Multiperiod Contracting and Salesperson Effort Profiles: The Optimality of “Hockey Stick,” “Giving Up,” and “Resting on Laurels”

2020 ◽  
Vol 57 (2) ◽  
pp. 211-235 ◽  
Author(s):  
Kinshuk Jerath ◽  
Fei Long
Keyword(s):  
Empirical Support ◽  
Limited Liability ◽  
Sales Force ◽  
Hockey Stick ◽  
Repeated Moral Hazard ◽  
Incentive Contracting ◽  
Hazard Scenario ◽  
Increasing Demand ◽  
Neutral Agent ◽  
Short Time

The authors study multiperiod sales force incentive contracting in which salespeople can engage in effort gaming, a phenomenon that has extensive empirical support. Focusing on a repeated moral hazard scenario with two independent periods and a risk-neutral agent with limited liability, the authors conduct a theoretical investigation to understand which effort profiles the firm can expect under the optimal contract. The authors show that various effort profiles that may give the appearance of being suboptimal, such as postponing effort exertion (“hockey stick”) and not exerting effort after a bad or a good initial demand outcome (“giving up” and “resting on laurels,” respectively) may indeed be induced optimally by the firm. This is because, under certain conditions that depend on how severe the contracting frictions are and how effective effort exertion is in increasing demand, the firm wants to concentrate rewards on extreme demand outcomes. Doing this induces gaming and reduces expected demand but also makes motivating effort cheaper, thus saving on incentive payments. On introducing dependence between time periods, such as when the agent can transfer demands between periods, this insight continues to hold and, furthermore, “hockey stick,” “giving up,” and “resting on laurels” can be optimal for the firm even under repeated short time horizon contracting. The results imply that one must carefully consider the setting and environmental factors when making inferences about contract effectiveness from dynamic effort profiles of agents.

scholarly journals Thallus sectioning as an efficient monospore release method in Pyropia yezoensis (Bangiales, Rhodophyta)

2019 ◽  
Vol 32 (4) ◽  
pp. 2195-2200 ◽  
Author(s):  
Nianci Chen ◽  
Lei Tang ◽  
Xiaowei Guan ◽  
Rui Chen ◽  
Min Cao ◽  
...  
Keyword(s):  
High Efficiency ◽  
Low Cost ◽  
Economic Value ◽  
Northern China ◽  
Pyropia Yezoensis ◽  
Effect Of Temperature ◽  
Seeding Strategy ◽  
Increasing Demand ◽  
Short Time ◽  
Release Method

AbstractThe red seaweed Pyropia yezoensis is a marine crop of important economic value and is widely cultivated in the coastal areas of northern China. The current seedling-raising system relies on the germination of conchospores, a process not fast enough to meet the increasing demand from farmers. In this study, we developed a monospore-dependent seedling method based on the asexual reproduction of the Pyropia thallus. The Pyropia thallus was physically sectioned into small pieces (microthalli) that were cultivated at 15 °C. The algal cells in the microthalli became morphologically condensed, underwent cell division, and then developed into monospores on the 5th day. The monospores were able to attach to the seeding rope in 24 h and germinated into healthy thalli. To optimize the efficiency of monospore release, we tested the effect of temperature and the size and original positions of the microthalli as well as the age of the mother thallus. Microthalli with a size of 30–50 cells from the middle and apex of 21-day-old thalli cultivated at 15 °C yielded the optimum production of monospores. Theoretically, in this thallus-to-thallus seeding strategy, 0.1 g of thallus could produce at least 107 monospores, with the same number of offspring thallus seedlings. Taking all of these advantages together, including the high efficiency, short time, low cost and easy operation, this physical sectioning method could serve as a promising seed source especially for new cultivars with superior traits in Pyropia farming and rapid replenishment of seedlings when thalli undergo disastrous diseases.

scholarly journals ANALISIS BAURAN PROMOSI PADA PT.ANUGRAH PARAHYANGAN JAYA

2018 ◽  
Vol 2 (2) ◽  
pp. 161-178
Author(s):  
Yayan Sofyan
Keyword(s):  
Business And Society ◽  
Sales Promotions ◽  
Direct Communication ◽  
Sales Personnel ◽  
Trade Show ◽  
Analysis Process ◽  
Promotion Strategies ◽  
Increasing Demand ◽  
Short Time

Marketing is a major force in business and society that began and ended the needs of consumers. The concept of marketing is a whole system of business activities to plan, determine pricing, promoting and distributing goods or services that can satisfy consumer needs, analysis of the results of the implementation of the strategy is important for the Promotion Mix done to see how far the influence of these promotion strategies in increasing the value company's sales. The results of this analysis will be useful as guidelines for the management of companies, especially companies Ciroyom market developers to take steps appropriate policies and targeted. The data analysis process to organize and sort the data into patterns, categories and units so that the basic outline can be found in the theme and can be formulated as a working hypothesis based on the data, the authors analyzed the data using the method of calculating the average (mean), mode, and median             Implementation of the Promotion Mix PT.Anugrah Parahyangan Plaza is on the radio ads, billboard installation in strategic places, distributed brochures places crowded with ads consumers are expected to know more about PT.Anugrah Parahyangan Jaya so that companies can reap the results of purpose of the advertising that is increasing demand for early, developing the options on the company and the last to convince buyers of the products offered by PT.Anugrah Parahyangan Jaya can be enjoyed by consumers             Sales promotions conducted in PT.Anugrah Parahyangan Jaya using time rebate form discount if consumers buy a kiosk or shop at a specific time and is proven effective to stimulate sales in a short time and in the long term the company can attract new customers, sales personnel in PT . Anugrah Jaya Parahyangan by direct communication between the SPG to the consumer, usually PT.Anugrah Parahyangan Jaya following property trade show organized by Event Orgazer resulting in direct contacts between the SPG PT.Anugrah Parahyangan Jaya with consumers and this usually occurs when the consumer transaction fits with the bid offered by the company

scholarly journals MULTI LEVEL MARKETING DALAM PERSPEKTIF ETIKA BISNIS ISLAM

2019 ◽  
Vol 3 (1) ◽  
pp. 94-115
Author(s):  
Safwan Safwan
Keyword(s):  
Business Ethics ◽  
National Economy ◽  
Distribution Channels ◽  
Sales Force ◽  
Distribution Costs ◽  
Business System ◽  
Islamic Business Ethics ◽  
Multi Level ◽  
Short Time

Amid the sluggishness and deterioration of the national economy, came a business system that had much promise and success and offered wealth in a short time. This system became known as Multi Level Marketing (MLM) or Networking Marketing. Multi Level Marketing (MLM) systems cut distribution channels in conventional sales because it doesn't involve distributors or sole agents and wholesalers or sub-agents, but directly distributing products to independent distributors who work as retailers or sellers directly to consumers. In this way, marketing and distribution costs (transportation, warehouse rent, salaries and sales force commissions etc.) can be obtained transferred to an independent distributor with a system tiered which is generally adjusted to the achievement of targets the sales or turnover of the distributor concerned, coupled with the controversies regarding the MLM system in today's society, starting from the aspect of products that must be halal to the system transactions, bonus giving, member recruitment, and coaching who do not use things that are forbidden by Islam, then plus the elements of money games, maysir, dharar, dzulm, immoral and usury. So it becomes interesting when we see Multi Level Marketing (MLM) through the perspective of Islamic business ethics.

scholarly journals A learning module in hair restoration surgery: A simple and economic method to learn all steps of strip method of hair follicles harvesting and implantation

2017 ◽  
Vol 50 (03) ◽  
pp. 230-235
Author(s):  
Anil Kumar Garg ◽  
Seema Garg
Keyword(s):  
Hair Follicles ◽  
Strip Method ◽  
Learning Module ◽  
Economic Method ◽  
Or Practice ◽  
Increasing Demand ◽  
Global Increase ◽  
Materials Used ◽  
User Friendly ◽  
Short Time

ABSTRACTBackground: There is a global increase in demand for hair transplant as well as increasing demand for trained assistants and surgeons. It is a fact that permanent donor hair follicles are limited and any loss during learning is permanent and irreversible, so there is no place to learn and/or practice on a patient. Objective: To develop a learning module in hair restoration surgery to learn all steps of strip method of hair follicles harvesting and methods of implantation. Materials and Methods: In this learning module, the materials used are paper, pencil, plant leaf, foam and thread. The last step is on goat skin. Module has been divided into multiple steps. The first step is training of microsurgery position, the second step is training of movement at wrist using paper and pencil, the third step is strip harvesting and slivering on foam model, the fourth step is learning of follicle dissection on leaf model, the fifth step is thread follicle implantation on leaf bed. After practising on non-living model finally, all steps are practised on goatskin, starting from slivering, follicle dissection and implantation of goat follicles on leaf. Conclusion: This is very economical and user-friendly system to learn all steps of strip method of hair follicle harvesting and methods of implantation as well. The materials used are available around us and anyone can learn as well as train his or her technicians in very short time.

scholarly journals Automatic threshold and run parameter selection: a climatology for extreme hourly precipitation in Switzerland

2014 ◽  
Vol 120 (3-4) ◽  
pp. 403-416 ◽  
Author(s):  
S. Fukutome ◽  
M. A. Liniger ◽  
M. Süveges
Keyword(s):  
Time Series ◽  
Generalized Pareto Distribution ◽  
Value Theory ◽  
Extreme Value ◽  
Return Level ◽  
High Threshold ◽  
Hourly Precipitation ◽  
Four Seasons ◽  
Increasing Demand ◽  
Short Time

Abstract Extreme value analyses of a large number of relatively short time series are in increasing demand in environmental sciences and design. Here, we present an automated procedure for the peaks-over-threshold (POT) approach to extreme value theory and use it to provide a climatology of extreme hourly precipitation in Switzerland. The POT approach fits the generalized Pareto distribution (GPD) to independent exceedances above some high threshold. To guarantee independence, the time series is pruned: exceedances separated by less than a fixed interval called the run parameter are considered a cluster, and all but the cluster maxima are discarded. We propose the automation of an existing graphical method for joint selection of threshold and run parameter. Hourly precipitation is analyzed at 59 stations of the MeteoSwiss observational network over the period 1981–2010. The four seasons are considered separately. When necessary, a simple detrending is applied. Results suggest that unnecessarily large run parameters have adverse effects on the estimation of the GPD parameters. The proposed method yields mean cluster sizes that reflect the seasonal and geographical variation of lag dependence of hourly precipitation. The climatology, as represented by the return level maps and Alpine cross-section, mirror known aspects of the Swiss climate. Unlike for daily precipitation, summer thunderstorm tracks are visible in the seasonal frequency of events, rather than in the amplitude of rare events.

scholarly journals The role of port operations in the development of cruise tourism: The case of port of Antalya

2016 ◽  
Vol 13 (3) ◽  
pp. 5613 ◽  
Author(s):  
Şirvan Şen Demir ◽  
Gonca Manap Davras ◽  
Havva Uzun
Keyword(s):  
Structured Interview ◽  
Marine Tourism ◽  
Cruise Ships ◽  
Port Operations ◽  
The World ◽  
Cruise Tourism ◽  
Increasing Demand ◽  
Short Time ◽  
New Jobs

Cruise tourism, which is evaluated within marine tourism, has significant environmental, economic, and socio-cultural impacts on visited ports. Cruise tourism is an activity that provides economic income to the harbors and creates new jobs. The cruise tourism has an increasing demand in the recent years because cruise ship visitors both have an opportunity to see many countries and cities in a short time and have a vacation on a luxury ship, which has a comfort standard like a holiday village.  With her historical, cultural and natural attractions, Turkey is located in very strategic and convenient point and also Turkey is so close to destinations that cruise ships prefer to visit in the Mediterranean Basin. In 2014, approximately  22 million tourist travelled with cruise ships in the World and 1.8 million cruise passengers came to Turkey. The aim of this study is evaluate the development of cruise tourism in Turkey in terms of port operations.  In previous studies it has focused on the development of cruise tourism but has not been evaluated in terms of port operations perspective. Semi-structured interview technique was used in the study and interviewed with General Manager of Antalya Global Ports Holding, which is one of Turkey’s most important port operations. Turkey  and in the World cruise tourism is compared and has been reached important information about the development of cruise tourism.

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