scholarly journals Fragmentation in trader preferences among multiple markets: market coexistence versus single market dominance

2021 ◽  
Vol 8 (8) ◽  
pp. 202233
Author(s):  
Robin Nicole ◽  
Aleksandra Alorić ◽  
Peter Sollich
Keyword(s):  
Market Competition ◽  
Single Market ◽  
Technological Advancement ◽  
Homogeneous Population ◽  
Memory Length ◽  
Multiple Markets ◽  
Market Dominance ◽  
Zero Intelligence ◽  
Typical Scenario

Technological advancement has led to an increase in the number and type of trading venues and a diversification of goods traded. These changes have re-emphasized the importance of understanding the effects of market competition: does proliferation of trading venues and increased competition lead to dominance of a single market or coexistence of multiple markets? In this paper, we address these questions in a stylized model of zero-intelligence traders who make repeated decisions at which of three available markets to trade. We analyse the model numerically and analytically and find that the traders’ decision parameters—memory length and how strongly decisions are based on past success—make the key difference between consolidated and fragmented steady states of the population of traders. All three markets coexist with equal shares of traders only when either learning is too weak and traders choose randomly, or when markets are identical. In the latter case, the population of traders fragments across the markets. With different markets, we note that market dominance is the more typical scenario. Overall we show that, contrary to previous research emphasizing the role of traders’ heterogeneity, market coexistence can emerge simply as a consequence of co-adaptation of an initially homogeneous population of traders.

Interest-bearing checking policies at single-market banks, 2008-2012

2016 ◽  
Vol 42 (8) ◽  
pp. 781-798 ◽  
Author(s):  
Russ Kashian ◽  
Robert Drago
Keyword(s):  
Low Income ◽  
Design Methodology ◽  
Market Competition ◽  
Single Market ◽  
Local Market ◽  
Testing Hypotheses ◽  
Content Type ◽  
Report Data ◽  
The Difference

Purpose – The purpose of this paper is to analyze interest-bearing checking (IC) account policies, including the monthly fee, and minima to avoid the fee or to earn interest, as shrouded equilibria in the sense that low-income depositors subsidize higher income depositors. The authors ask whether behavior is consistent with low-income depositors being myopic, and analyze the role of competition and bank size. Design/methodology/approach – IC policy data from RateWatch cover more than 600 single-market banks from 2008-2012, and are matched to FDIC SOD data and call report data for testing. Hypotheses assuming low-income depositors are myopic are tested, as are the effects of bank size and competition with local market and multi-market banks. Findings – IC policies represent locally shrouded equilibria, with low-income depositors subsidizing higher income depositors up to a well-defined threshold, with depositors above that threshold subsiding all other customers. IC policy patterns are consistent with low-income customers being myopic, with banks generally avoiding drawing their attention, attempting to confuse them, and with policies consistent with a present orientation among low-income depositors. Local market competition does not meet the traditional expectation of favoring consumers. Additionally, larger banks report higher fees and minima, with the difference growing during the period. Social implications – IC policies have not received regulatory attention, yet the fees likely fall mainly on low-income individuals, and may continue to grow. Originality/value – The analysis of IC policies is novel, as is the locally shrouded equilibrium model, and findings regarding competition.

The role of data cap in two-part pricing under market competition

IEEE Network ◽  
2016 ◽  
Vol 30 (2) ◽  
pp. 12-17 ◽  
Author(s):  
Xin Wang ◽  
Richard T. B. Ma ◽  
Yinlong Xu
Keyword(s):  
Market Competition

The Role of African Students in Technology Transfer

1979 ◽  
Vol 9 (4) ◽  
pp. 50-51
Author(s):  
Ephraim Nkwute Aniebona
Keyword(s):  
Human Society ◽  
Technological Advancement ◽  
African Students ◽  
Human Needs ◽  
Power Resources ◽  
Human Effort ◽  
Basic Human Needs ◽  
Developed Nations

The term, “technology,” as used here, refers basically to: (1) the science or art of devising tools and instruments and how to use them; (2) the development of new materials and substances and their application; (3) the development of machines to supplement or replace human effort, where desirable and feasible; (4) the development of energy and power resources for running the machines; and (5) the development of efficient methods of doing work—that is, using tools, machines, and instruments. From an observation of human efforts throughout the world, it is clear that every human society is concerned with technology, for it is a proven means by which man has extended his power beyond his physical capacity and gained some control over his environment. Although technology exists in every society, it is the amount and quality of the technology that separates nations today on a scale of economic development. Whilst the developing, technologically backward countries of Africa constantly face the basic human needs of food, shelter, and clothing, the developed nations consume and enjoy a disproportionate amount of the world’s resources and wealth by reason of their technological advancement.

scholarly journals The Strategy of Trade In The Halal Food Industry In Jember

2021 ◽  
Vol 10 (1) ◽  
pp. 35
Author(s):  
Misbahul Munir ◽  
Muhammad Masyhuri
Keyword(s):  
Food Industry ◽  
Market Competition ◽  
Global Market ◽  
Business Partner ◽  
Business Partners ◽  
Halal Food ◽  
Muslim Majority ◽  
Product Industry

The halal product industry continues to grow and has a big influence on the global market. In fact, Indonesia is determined to make the country's halal product industry more competitive in the world halal market. To anticipate this global market competition, Indonesia as a Muslim majority country must be able to take the advantage of this enormous opportunity. The role of the network in developing halal products to the global market was when marketing its products. PT. Mitratani could not be separated from relationships with business partners. Each business partner had a role to play. Also, PT. Mitratani could not separate the use of information technology and media as a means to expand marketing to the global market. To create an edge in competition, PT. Mitratani focused on customer and consumer needs. The most important thing was to build trust in business partners. PT. Mitratani's advantage was in the cultivation of edamame. It was from planting to the use of pesticides and fertilizers, until PT Mitratani farmers did their own crops and carried out quality control on each land. This was done to maintain the quality of edamame. PT. Mitratani also improved the quality of its products by implementing HACCP, SOP and GMP in processing and production. In addition to maintaining the quality of PT, Mitratani had established good relationships with company stakeholders so that loyalty and trusted in the product and the company could continue.

scholarly journals Les conséquences des politiques de régulation par délégation de pouvoirs à des agences indépendantes

Federalism-E ◽  
1969 ◽  
Vol 5 (1) ◽  
Author(s):  
Olivier Grandjean
Keyword(s):  
European Union ◽  
Economic Efficiency ◽  
Market Competition ◽  
The European Union ◽  
Economic Role ◽  
Form Of Government ◽  
New Form ◽  
European Markets ◽  
The Welfare State

Regulation of European markets has changed considerably since 1980. As a result of factors such as European integration, international forces, and the decline of the welfare state, European governments have opted for other development strategies. Most notably, there has been a movement to privatize state-owned industries, as well as to develop new constitutive rules of competition that aim to ensure market competition in order to both obtain optimal economic efficiency and most efficiently allocate resources. The economic role of the European Union has thus been reinforced accordingly. Moreover, an indirect form of government in such matters has also emerged. These strategies have ultimately developed into a new form of government, which is characterized by changes in the official functions, institutions, actors and the types of policies followed on the matters.[...]

Il potere e il problema della qualitŕ. Considerazioni della prospettiva della sociologia economica

2009 ◽  
pp. 143-170
Author(s):  
Luigi Doria
Keyword(s):  
Public Policy ◽  
Market Competition ◽  
Public And Private ◽  
Management Quality ◽  
Quality Certification ◽  
Policy Fields ◽  
Contemporary Development ◽  
Private Actors ◽  
Sociological Studies

- Quality is one of the most relevant and, at the same time, ambiguous key-word of the contemporary socio-economic lexicon. The reference to quality discourses and technologies (such as those related to quality management, quality assurance, quality certification) ranges from market competition to organizational and managerial dynamics, from policy making to the new forms of governance. But, if quality constitutes itself as an eminent value for contemporary development, the treatment of the most diverse social domains (including, for example, administration, research, culture) in terms of quality is often assumed as the emblem of a disquieting trend towards control and rationalization. This contribution deals first with the analysis of the multiple meanings of the notion, paying particular attention to sociological studies and to the relationship between quality and the dimension of calculation. The attention focuses then on the role of the concept in the field of public policy and governance and, in particular, on quality as a sort of connecting device, which promotes processes of integration among different policy fields and networking phenomena involving public and private actors. The articles briefly hints, in the last part, at the root of the peculiar normativity of quality and at the enigmatic character of its current power.Keywords: Quality, networking, economic sociology, public policy.

Trends and Issues in Strategic Human Resources Management

2020 ◽  
pp. 17-41
Author(s):  
Abraham Pius ◽  
Husam Helmi Alharahsheh ◽  
Saikou Sanyang
Keyword(s):  
Human Resources ◽  
Planning Process ◽  
Human Resources Management ◽  
Workforce Planning ◽  
Technological Advancement ◽  
Future Planning ◽  
Strategic Human Resources ◽  
Current Trends ◽  
Strategic Human Resources Management

The key function of human resources will continue to play a key role in the process of firms' future planning. The chapter has highlighted, discussed, and explored key activities at the strategic levels of human resource management and planning including introductory comments and definitions of current understanding of HRM, the flexible firm, HRM planning and its benefits, HRM planning at the strategic levels, the role of individuals within their wider teams and organisations, and the development of technological advancement and its reflection in the planning process for HRM leading to further embedding of virtual aspects and activities. Furthermore, the chapter also included current practices of outsourcing and different key stages of workforce planning. The chapter aimed to enhance application by providing several practical discussions and case studies reflecting current trends in HRM at a strategic level.

Sign in / Sign up

Export Citation Format

Share Document