scholarly journals Location-Price Game in a Dual-Circle Market with Different Demand Levels

2021 ◽  
Vol 2021 ◽  
pp. 1-15
Author(s):  
Xiaofeng Chen ◽  
Qiankun Song ◽  
Luqing Rong ◽  
Zhenjiang Zhao
Keyword(s):  
Price Competition ◽  
Algebraic Expression ◽  
Market System ◽  
Quartic Equation ◽  
Price Structure ◽  
Price Game ◽  
Spatial Game ◽  
Location Equilibrium ◽  
The Relationship ◽  
Circle Model

This paper researches a location-price game in a dual-circle market system, where two circular markets are interconnected with different demand levels. Based on the Bertrand and Salop models, a double intersecting circle model is established for a dual-circle market system in which two players (firms) develop a spatial game under price competition. By a two-stage (location-then-price) structure and backward induction approach, the existence of price and location equilibrium outcomes is obtained for the location game. Furthermore, by Ferrari method for quartic equation, the location equilibrium is presented by algebraic expression, which directly reflects the relationship between the equilibrium position and the proportion factor of demand levels. Finally, an algorithm is designed to simulate the game process of two players in the dual-circle market and simulation results show that two players almost reach the equilibrium positions obtained by theory, wherever their initial positions are.

scholarly journals Two-Player Location-Price Game in a Spoke Market with Linear Transportation Cost

2021 ◽  
Vol 2021 ◽  
pp. 1-5
Author(s):  
Xiaofeng Chen ◽  
Qiankun Song
Keyword(s):  
Price Competition ◽  
Transportation Cost ◽  
Market Model ◽  
Two Stage ◽  
Hotelling Model ◽  
Price Game ◽  
Location Equilibrium ◽  
Price Patterns

This paper investigates the location game of two players in a spoke market with linear transportation cost. A spoke market model has been proposed, which is inspired by the Hotelling model and develops two-player games in price competition. Using two-stage (position and price) patterns and the backward guidance method, the existence of price and location equilibrium results for the position games is proved.

scholarly journals Principals Agents and Prisoners: An Economical Perspective on Information Systems Development Practice

10.28945/3041 ◽  
2006 ◽  
Author(s):  
Karlheinz Kautz ◽  
Bjarke Nielsen
Keyword(s):  
Information Systems ◽  
Systems Development ◽  
Information Systems Development ◽  
Research Approach ◽  
Price Structure ◽  
Relationship Of ◽  
The Impact ◽  
The Relationship ◽  
Development Practice

Information systems development takes place within an economical context. However, the economical conditions, which shape systems development in practice, are hardly researched. In this paper we are investigating the question how a given price structure influences systems development projects. Our analysis is based on a multi case study and a Grounded Theory inspired research approach. Our work is informed by economic theories, which deal with the relationship of suppliers and customers and their mutual dependency. We thus apply principal-agent theory and economic game theory in form of the prisoner’s dilemma. As a result we provide three interlinked models for understanding the impact of pricing structure on systems development practice. The main elements of these models are pricing structure, risk distribution and price level, and opportunistic behavior. We discuss how these elements are interrelated and examine their impact on information systems development in practice.

MATHEMATICAL ALGORITHMS OF GAME THEORY AS AN APPLIED TOOL FOR MAKING EFFECTIVE FINANCIAL AND ECONOMIC DECISIONS

2020 ◽  
Vol 1 (11) ◽  
pp. 33-47
Author(s):  
Leonid S. Zvyagin ◽  
Keyword(s):  
Game Theory ◽  
Price Competition ◽  
Optimal Investment ◽  
Point Of View ◽  
Investment Portfolio ◽  
Economic Decisions ◽  
Economic Sphere ◽  
Mathematical Algorithms ◽  
Business Game ◽  
The Relationship

Recently, the methods of gametheoretic modeling are increasingly used in the financial sphere. In particular, the formation of an optimal investment portfolio is considered and analyzed from the point of view of game theory as a type of cooperative game. In business, game theory is widely used to model the behavior between competitors. Economists often use game theory to understand the behavior of oligopolies, trying to calculate when firms collude. The relevance of game theory methods for the financial and economic sphere is due to their universality, as well as mathematical validity. This article examines how using the concepts contained in game theory, it is possible not only to build real scenarios for such situations as price competition, production and output, the relationship between buyer and seller, but also to predict their results. The purpose of this article is to study the basic concepts of game theory, as well as to consider practical approaches to solving specific situations that are reflected in the financial and economic sphere

Value Based Differentiation in Business Relationship for Capital Products and Complex Solutions

2016 ◽  
Vol 7 (2) ◽  
pp. 52-70
Author(s):  
Ahmed O. El-Tagy ◽  
Khaled Wahba
Keyword(s):  
Price Competition ◽  
Brand Name ◽  
Purchasing Decisions ◽  
Value Drivers ◽  
Cost Drivers ◽  
Relationship Value ◽  
Complex Solutions ◽  
The Cost ◽  
The Relationship ◽  
Depth Interviews

Value based concepts are widely viewed as a way that enables companies to escape the price competition. In this case benefits and values start to have a great role. The main objective of the research is to develop a conceptual framework for building relationship value in the B2B context of capital products and complex solutions in Egypt. We complemented the literature review with twelve in-depth interviews with different buying center members who are involved in the purchasing decisions of complex solutions or capital products in medium and large organizations. The relationship value drivers were categorized as benefits and cost drivers. The benefit drivers that creates value for B2B capital products are (after sales service, product quality, time to market, supplier brand name, risk reduction, salesman role, and supplier market orientation). On the other hand, the model constructed the cost drivers as (direct cost, operation cost and payment methods).

Analysis of Game Theory on the Price of Supply Chain Based on Bertrand Model

2011 ◽  
Vol 135-136 ◽  
pp. 274-278
Author(s):  
Lan Xia ◽  
Ting Ting Song
Keyword(s):  
Game Theory ◽  
Product Differentiation ◽  
Price Competition ◽  
Market Competition ◽  
Theory Analysis ◽  
Core Competitiveness ◽  
The Core ◽  
Price Game ◽  
Bertrand Model ◽  
The Core Competitiveness

As market competition intensifies, Price competition as the most common and effective way of market competition among operators is quite active. Used game theory, analysis price game and inter-enterprise competition by Bertrand model, and illustrated the importance of product differentiation and build the core competitiveness by case.

scholarly journals Price and location equilibria in a circular market: a pure vs a mixed duopsony with a co-operative

2013 ◽  
Vol 59 (No. 8) ◽  
pp. 341-347
Author(s):  
P. Fousekis ◽  
D. Panagiotou
Keyword(s):  
Large Distance ◽  
Price Competition ◽  
Pure Strategy ◽  
Private Firm ◽  
Private Firms ◽  
Market Structures ◽  
Primary Commodity ◽  
Location Equilibrium ◽  
Price War

The objective of the present paper is to analyze the location-price competition in circular markets where the power lies with the buyers. To this end, it considers two alternative market structures. Namely, the pure ones, where the buyers of a primary commodity are private firms, and mixed ones, where a private firm competes against a producer’s co-operative. According to the results, the pure-strategy location equilibrium in both cases involves a distance between the two players larger or equal to 1/4. Nevertheless, the equilibriums are qualitatively different. In the pure duopsony, a large distance is required to prevent a price war while in the mixed duopsony, the private firm tries to stay away from the co-op in order to ensure a strictly positive profit.    

Effect of Temperature on Performance Parameters of Metallurgical Grade Polysilicon Solar Cells

2011 ◽  
Vol 148-149 ◽  
pp. 1252-1255 ◽  
Author(s):  
Li Fu Zhang ◽  
Yi Tan ◽  
Zhen Qiang Yang ◽  
Ze Fei Gao ◽  
Ying Nie
Keyword(s):  
Solar Cells ◽  
Open Circuit Voltage ◽  
Open Circuit ◽  
Effect Of Temperature ◽  
Stable Operation ◽  
Operating Voltage ◽  
Water Cooling ◽  
Quartic Equation ◽  
Metallurgical Silicon ◽  
The Relationship

By the stable operation of the experiments in actual outdoor conditions nearly a year, we find that the property of metallurgical silicon solar cells proves to be stable. The results show that the relationship between S-P could be expressed as a quartic equation. As the higher surface temperature of solar cells at noon on sunny day, both the open circuit voltage and the operating voltage are lower, the output power is reduced. It is concluded that the water cooling on the surface of the solar cells when the temperature T>50°C could improve power generation efficiency.

scholarly journals Ambiguity and price competition

2019 ◽  
Vol 88 (2) ◽  
pp. 231-256
Author(s):  
R. R. Routledge ◽  
R. A. Edwards
Keyword(s):  
Price Competition ◽  
Ambiguity Aversion ◽  
Market Demand ◽  
Equilibrium Prices ◽  
Price Game ◽  
Good Market ◽  
Minimum Price ◽  
Discontinuous Payoffs ◽  
Homogeneous Good

Abstract There are few models of price competition in a homogeneous-good market which permit general asymmetries of information amongst the sellers. This work studies a price game with discontinuous payoffs in which both costs and market demand are ex ante uncertain. The sellers evaluate uncertain profits with maximin expected utilities exhibiting ambiguity aversion. The buyers in the market are permitted to split between sellers tieing at the minimum price in arbitrary ways which may be deterministic or random. The role of the primitives in determining equilibrium prices in the market is analyzed in detail.

scholarly journals Aging of the agricultural workforce in relation to the agricultural labour market

2009 ◽  
Vol 55 (No. 9) ◽  
pp. 424-435 ◽  
Author(s):  
D. Spěšná ◽  
P. Pospěch ◽  
F. Nohel ◽  
J. Drlík ◽  
M. Delín
Keyword(s):  
Labour Market ◽  
Age Structure ◽  
Quantitative Data ◽  
Secondary Analysis ◽  
Market System ◽  
Political Influences ◽  
Empirical Survey ◽  
Specific Factors ◽  
The Relationship

The development of age structure of Czech agricultural workforce has been continuously predominantly negative since 1989 and it constitutes a serious problem in terms of reproduction of agricultural workforce. The present paper abstains from analyzing the demographic, economic and socio-political influences on this process and tries to identify the specific factors inherent in the agricultural labour market. It considers opportunities for improving the age structure of agricultural workforce provided by the labour market system, particularly in relation to the supply of workforce, demand for it, unemployment and wage levels. An abductive approach, based on a secondary analysis of quantitative data and the authors’ own empirical survey, identifies a set of hypotheses about the relationship between agricultural labour market and the age structure of agricultural workforce.

The M Yarn: Price and Social Imagination in Early Industrial Britain

2014 ◽  
Vol 15 (03) ◽  
pp. 417-441
Author(s):  
Paul Anthony Custer
Keyword(s):  
Nineteenth Century ◽  
Price Competition ◽  
Close Reading ◽  
Early Nineteenth Century ◽  
Social Imagination ◽  
Definition Of ◽  
The Relationship ◽  
Small Thing

This essay explores market talk in early nineteenth-century Britain through a close reading of the correspondence of the cotton-spinning firm McConnel & Kennedy of Manchester between 1798 and 1813. I argue that two distinct “narratives” of price and value emerge from these letters, and that the cleave between them pointed both to a deep anxiety about the market, and to a clear and clever bargaining strategy. McConnel & Kennedy clung stubbornly to a definition of “value” that they understood to be fictive, in order to avoid frank surrender to what they saw as cannibalistic price-competition. Rhetoric was, then, no small thing to them. They conceived supply and value as being inversely related, and this idea, I argue, was implicit also in wider contemporary anxieties about the relationship between proliferation and meaning.

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