A fair, preference-based posted price resale e-market model and clearing heuristics for circular economy

2021 ◽  
pp. 107308
Author(s):  
Ali Haydar Özer
2009 ◽  
pp. 393-400
Author(s):  
Prithviraj Dasgupta ◽  
Louise E. Moser ◽  
P. Michael Melliar-Smith

Over the last decade, e-commerce has significantly changed the traditional forms of interaction among humans in conducting business by automating business processes over the Internet. Early seller Web sites consisted of passive text-based catalogs of products that could be manually browsed by potential customers. Online passive catalogs were soon replaced by dynamically updated catalogs containing detailed product descriptions using combinations of text and images that could be searched in various formats and according to different search criteria. E-commerce techniques used by sellers for operations such as price setting, negotiation, and payment have matured from manual off-line processing of sales data to automated algorithms that dynamically determine prices and profits for sellers. Modern e-commerce processes for trading goods between buyers and sellers can be divided into five stages: search, valuation, negotiation, payment, and delivery. Depending on the type of market in which the goods are traded, some of the above stages are more important than others. There are three principal market models that are used for online trading. The most common market model used by online sellers for trading goods over the Internet is the posted-price market model. The other two market models, the auction model (Sandholm, Suri, Gilpin, & Levine, 2002) and the marketplace model (Chavez & Maes, 1996), are used for markets in which niche or specialty items with sporadic or uncertain demand are traded. In the posted-price market model, a seller announces the price of a product on its Web site. Buyers visiting the seller’s Web site request a quote from the seller. The seller responds with a quote in response to the buyers’ requests, and the buyers examine the seller’s quote to make a purchase decision. Unlike auctions and market places, products traded in posted-price markets are no-niche items and exhibit continuous demand over time. The Web site of online book merchant Amazon (http://www.amazon.com) is an example of a posted-price market. A buyer interested in a particular book enters the necessary information through a form on Amazon’s Web site to request the price of the book and receives the price in response. Modern seller Web sites employ automated techniques for the different stages of e-commerce. Intermediaries called intelligent agents are used to automate trading processes by implementing different algorithms for selling products. For example, Web sites such as MySimon (http://www. mysimon.com) and PriceGrabber (http://www. pricegrabber.com) automate the search stage by employing the services of intelligent agents called shopbots. Shopbots enable buyers to make an informed purchase decision by comparing the prices and other attributes of products from thousands of online sellers. Automated price comparison by buyers has resulted in increased competition among sellers. Sellers have responded to this challenge by using intelligent agents called pricebots that dynamically determine the price of a product in response to varying market conditions and buyers’ preferences. Intelligent agents are also used to enable other e-commerce processes, such as supply-chain management and automated negotiation. In this article, we focus on the different algorithms that sellers’ pricebots can use for the dynamic pricing of goods in posted-price markets.


Author(s):  
Prithviraj Dasgupta ◽  
Louise E. Moser ◽  
P. Michael Melliar-Smith

Over the last decade, e-commerce has significantly changed the traditional forms of interaction among humans in conducting business by automating business processes over the Internet. Early seller Web sites consisted of passive text-based catalogs of products that could be manually browsed by potential customers. Online passive catalogs were soon replaced by dynamically updated catalogs containing detailed product descriptions using combinations of text and images that could be searched in various formats and according to different search criteria. E-commerce techniques used by sellers for operations such as price setting, negotiation, and payment have matured from manual off-line processing of sales data to automated algorithms that dynamically determine prices and profits for sellers. Modern e-commerce processes for trading goods between buyers and sellers can be divided into five stages: search, valuation, negotiation, payment, and delivery. Depending on the type of market in which the goods are traded, some of the above stages are more important than others. There are three principal market models that are used for online trading. The most common market model used by online sellers for trading goods over the Internet is the posted-price market model. The other two market models, the auction model (Sandholm, Suri, Gilpin, & Levine, 2002) and the marketplace model (Chavez & Maes, 1996), are used for markets in which niche or specialty items with sporadic or uncertain demand are traded. In the posted-price market model, a seller announces the price of a product on its Web site. Buyers visiting the seller’s Web site request a quote from the seller. The seller responds with a quote in response to the buyers’ requests, and the buyers examine the seller’s quote to make a purchase decision. Unlike auctions and marketplaces, products traded in posted-price markets are no-niche items and exhibit continuous demand over time. The Web site of online book merchant Amazon (http://www.amazon.com) is an example of a posted-price market. A buyer interested in a particular book enters the necessary information through a form on Amazon’s Web site to request the price of the book and receives the price in response. Modern seller Web sites employ automated techniques for the different stages of e-commerce. Intermediaries called intelligent agents are used to automate trading processes by implementing different algorithms for selling products. For example, Web sites such as MySimon (http://www.mysimon.com) and PriceGrabber (http://www.pricegrabber.com) automate the search stage by employing the services of intelligent agents called shopbots. Shopbots enable buyers to make an informed purchase decision by comparing the prices and other attributes of products from thousands of online sellers. Automated price comparison by buyers has resulted in increased competition among sellers. Sellers have responded to this challenge by using intelligent agents called pricebots that dynamically determine the price of a product in response to varying market conditions and buyers’ preferences. Intelligent agents are also used to enable other e-commerce processes, such as supply-chain management and automated negotiation. In this article, we focus on the different algorithms that sellers’ pricebots can use for the dynamic pricing of goods in posted-price markets.


2017 ◽  
pp. 93-110 ◽  
Author(s):  
O. Anchishkina

The article synthesizes information on database analysis of state, municipal, and regulated procurement through which Russian contract institutions and the market model are investigated. The inherent uncertainty of quantity indicators on contracting activities and process is identified and explained. The article provides statistical evidence for heterogeneous market structure in state and municipal procurement, and big player’s dominance. A theoretical model for market behavior, noncooperative competition and collusion is proposed, through which the major trends are explained. The intrinsic flaws and failure of the current contracting model are revealed and described. This ineffectiveness is regarded to be not a limitation, but a challenge to be met. If responded to, drivers for economic growth and market equilibrium will be switched on.


Author(s):  
Tamara Merkulova ◽  
Kateryna Kononova ◽  
Olena Titomir

Author(s):  
Susan EVANS

This case study explores the strategic business opportunities, for Lane Crawford, an iconic luxury department store, to transition in a circular economy towards sustainability. A new experimentation framework was developed and conducted among cross departmental employees, during a Design Lab, with intention to co-create novel Circular Economy business concepts towards a new vision: the later was a reframe of the old system based on the principles of sustainability; to move beyond a linear operational model towards a circular economy that can contribute to a regenerative society. This work draws on both academic and professional experience and was conducted through professional practice. It was found that innovative co-created concepts, output from the Design Lab, can create radical change in a circular economy that is holistically beneficial and financially viable; looking forward to extract greater value a)Internal organization requires remodeling to transform towards a circular economy; b)Requirement for more horizonal teams across departments vs solely vertical; c)New language and relationships are required to be able to transition towards a circular economy; d)Some form of physical and virtual space requirements, for cross-disciplinary teams to come together to co-create; e)Ability to iterate, learn and evolve requires agency across the business


2020 ◽  
Vol 19 (4) ◽  
pp. 598-617 ◽  
Author(s):  
S.V. Ratner

Subject. The article considers the concept of circular economy, which has originated relatively recently in the academic literature, and is now increasingly recognized in many countries at the national level. In the European Union, the transition to circular economy is viewed as an opportunity to improve competitiveness of the European Union, protect businesses from resource shortages and fluctuating prices for raw materials and supplies, and a way to increase employment and innovation. Objectives. The aim of the study is to analyze the incentives developed by the European Commission for moving to circular economy, and to assess their effectiveness on the basis of statistical analysis. Methods. I employ general scientific methods of research. Results. The analysis of the EU Action Plan for the Circular Economy enabled to conclude that the results of the recent research in circular economy barriers, eco-innovation, technology and infrastructure were successfully integrated into the framework of this document. Understanding the root causes holding back the circular economy development and the balanced combination of economic and administrative incentives strengthened the Action Plan, and it contributed to the circular economy development in the EU. Conclusions. The measures to stimulate the development of the circular economy proposed in the European Action Plan can be viewed as a prototype for designing similar strategies in other countries, including Russia. Meanwhile, a more detailed analysis of barriers to the circular economy at the level of individual countries and regions is needed.


Author(s):  
Anatoliy B. Yaroshchuk ◽  

The article considers the current and future systems for assessing the effectiveness of the use of state resources to create a national innovation system as a factor in improving the economic security of the state, the author develops a methodological approach to assessing the effectiveness of the use of state resources to create a national innovation system. The cyclical development of the world economy in the conditions of globalization is connected, first of all, with the change of technological structures, as well as with the provision of competitiveness for all levels of economic management. In the domestic and foreign economic literature, there is an idea of the national innovation system, which covers all types of economic objects in the country with innovations, increasing their competitiveness, and, thus, the national economy as a whole, and also directly affects the increase in the level of economic security of the country. Most developed countries and many developing countries have already established or are in the process of establishing their national innovation systems, built either on the basis of models already known and tested in other countries, or new, unique models for building innovation systems. The differences between these models of creation of national innovation systems of different countries are, both in the levels of economic objects, which are the basis of innovative breakthrough, and in the degree of use of public resources: "centralized model", based on public resources, or "market model", or a mixed model of "public-private partnership". These issues are the basis for consideration of the presented article. The methodological basis for writing the article was modern scientific research methods, including: dialectical method, method of system analysis, methods of analogy, comparative analysis, expert methods, structural-functional and normative approaches.


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