scholarly journals Strongly Budget Balanced Auctions for Multi-Sided Markets

2020 ◽  
Vol 34 (02) ◽  
pp. 1998-2005
Author(s):  
Rica Gonen ◽  
Erel Segal-Halevi
Keyword(s):  
Supply Chain ◽  
Individual Rationality ◽  
Impossibility Theorem ◽  
Simulation Experiments ◽  
Maximum Gain ◽  
Practical Complexity ◽  
The One ◽  
Multiple Buyers ◽  
Two Sided Markets

In two-sided markets, Myerson and Satterthwaite's impossibility theorem states that one can not maximize the gain-from-trade while also satisfying truthfulness, individual-rationality and no deficit. Attempts have been made to circumvent Myerson and Satterthwaite's result by attaining approximately-maximum gain-from-trade: the double-sided auctions of McAfee (1992) is truthful and has no deficit, and the one by Segal-Halevi et al. (2016) additionally has no surplus — it is strongly-budget-balanced. They consider two categories of agents — buyers and sellers, where each trade set is composed of a single buyer and a single seller.The practical complexity of applications such as supply chain require one to look beyond two-sided markets. Common requirements are for: buyers trading with multiple sellers of different or identical items, buyers trading with sellers through transporters and mediators, and sellers trading with multiple buyers. We attempt to address these settings.We generalize Segal-Halevi et al. (2016)'s strongly-budget-balanced double-sided auction setting to a multilateral market where each trade set is composed of any number of agent categories. Our generalization refines the notion of competition in multi-sided auctions by introducing the concepts of external competition and trade reduction. We also show an obviously-truthful implementation of our auction using multiple ascending prices.Full version, including omitted proofs and simulation experiments, is available at https://arxiv.org/abs/1911.08094.

scholarly journals Information Acquisition and Its Incentives in an E-Commerce Supply Chain under the Offline Showroom Model

2021 ◽  
Vol 16 (5) ◽  
pp. 1791-1804
Author(s):  
Mengli Li ◽  
Xumei Zhang
Keyword(s):  
Supply Chain ◽  
Information Acquisition ◽  
Incentive Contracts ◽  
Demand Forecast ◽  
Competition Intensity ◽  
Demand Information ◽  
Optimal Information ◽  
Acquisition Strategy ◽  
The One ◽  
The Impact

Recently, the showroom model has developed fast for allowing consumers to evaluate a product offline and then buy it online. This paper aims at exploring the optimal information acquisition strategy and its incentive contracts in an e-commerce supply chain with two competing e-tailers and an offline showroom. Based on signaling game theory, we build a mathematical model by considering the impact of experience service and competition intensity on consumers’ demand. We find that, on the one hand, information acquisition promotes supply chain members to obtain demand information directly or indirectly, which leads to forecast revenue. On the other hand, information acquisition promotes supply chain members to distort optimal decisions, which results in signal cost. The optimal information acquisition strategy depends on the joint impact of forecast revenue, signal cost and demand forecast cost. Notably, in some conditions, the offline showroom will not acquire demand information even when its cost is equal to zero. We also design two different information acquisition incentive contracts to obtain Pareto improvement for all supply chain members.

Implications of Price Matching in Supply Chain Negotiation

2021 ◽  
Author(s):  
Weixin Shang ◽  
Gangshu (George) Cai
Keyword(s):  
Supply Chain ◽  
Social Welfare ◽  
Wholesale Price ◽  
Consumer Welfare ◽  
Problem Definition ◽  
Nash Bargaining ◽  
Price Matching ◽  
The Impact ◽  
Multiple Buyers ◽  
Wholesale Pricing

Problem definition: Few papers have explored the impact of price matching negotiation (PM), in which a channel matches its price with the resulting wholesale price bargained by another channel, on firms’ performances, consumer welfare, and social welfare, with and without supply chain coordination. Academic/practical relevance: Negotiation has been widely seen in determining both uniform and discriminatory wholesale prices, which affect outcomes of competitive supply chain practices. Methodology: To characterize the PM mechanism, we use game theory and Nash bargaining theory to compare PM with simultaneous negotiation (SN) through a common-seller two-buyer differentiated Bertrand competition model. Results: Our analysis reveals that PM can benefit the seller but hurt all buyers, which is at odds with some fair wholesale pricing clauses intending to protect buyers. Under coordination with side payments, however, all firms can conditionally benefit more from PM than from SN. Despite firms’ gains, PM leads to less consumer utility and social welfare compared with SN, unless the second buyer in PM is considerably less powerful than the first buyer. Coordination further worsens PM’s negative impact on consumer utility and social welfare. Moreover, the existence of a spot market can increase the wholesale price in PM, hurting buyers, consumers, and society. Furthermore, the qualitative results about PM remain robust under an alternative disagreement point for PM, multiple buyers, and other extensions. Managerial implications: This paper delivers insights on when price matching in supply chain wholesale price negotiation can benefit a seller, buyers, consumers, and society in a variety of scenarios. It advocates how managers can use PM to their own advantages and provides rationale to decision makers for policy regulations regarding wholesale pricing.

Supply resource management: Salomon and his network of subcontractors in Romania

2017 ◽  
Vol 33 (2) ◽  
pp. 4-6
Author(s):  
Richard Calvi
Keyword(s):  
Supply Chain ◽  
Resource Management ◽  
Competitive Advantage ◽  
Strategic Decisions ◽  
Content Type ◽  
External Resources ◽  
Internal Resources ◽  
The One ◽  
Practical Implications

Purpose According to Christopher (2000), in a lot of sectors, the competition is a question of supply chain against supply chain. The winner in term of competitive advantage should be the one, who is able to obtain more than the competitor from the available resources. In strategic literature, Dyer and Singh (1998) are the first who introduced the concept of “relational competency” to explain why some companies gain their competitive advantage not directly from their internal resources but mainly because they are able better to combine external resources. Design/methodology/approach This paper is a case study. Findings The author describes the different phases and strategic decisions in the building of a real supplier eco-system. Research limitations/implications It is a sole case study. Practical implications This study is a description of a success story. Originality/value This study is a description of an external resource management in action.

scholarly journals Legal-economic barriers to price transfers in food supply chains

2012 ◽  
Vol 6 (1-2) ◽  
pp. 27-33 ◽  
Author(s):  
Harry Bremmers ◽  
Bernd Van der Meulen ◽  
Zorica Sredojevi ◽  
Jo Wijnands
Keyword(s):  
Supply Chain ◽  
Supply Chains ◽  
Food Supply ◽  
Value Added ◽  
Price Volatility ◽  
Retail Sector ◽  
The European Union ◽  
Food Supply Chains ◽  
Industry Policy ◽  
The One

Recent price movements have put food supply chains under pressure. On the one side, upward price tendencies on commodity markets result in higher costs to processing firms. On the other side, these firms are confronted with a strong retail sector that is able to prevent compensation to protect consumers’ and own economic interests. Regulatory impediments of European law, especially with respect to foodstuffs, can adversely be utilized as barriers to protect the interest downstream the supply chain. The problem is that legal-economic instruments which can serve to smooth price volatility in supply markets can also opportunistically be used at the expense of the middlesection in food supply chains (i.e., mainly small and medium sized producers). The aim of this article is to identify the legal-economic mechanisms that effect price transfers in food supply chains in the European Union and define policy adjustments to improve pricing mechanisms, while safeguarding the interests of the processing industry. Policy alternatives to improve the smooth functioning of notably intermediate markets in food supply chains are the restructuring of competition law, improved processor information management and creating transparency of value added in the supply chain by means of labelling devices.

scholarly journals Feasibility of reforms regarding their reaches: An outline of an impossibility theorem

2003 ◽  
Vol 44 (159) ◽  
pp. 7-19
Author(s):  
Ljubomir Madzar
Keyword(s):  
French Revolution ◽  
Initial Position ◽  
Impossibility Theorem ◽  
Reform Process ◽  
Institutional Changes ◽  
Standard Argument ◽  
Lack Of Information ◽  
Run Up ◽  
The One ◽  
The French Revolution

Reform endeavors run up against various sorts of constraints. A major set of constraints is the one derived from the lack of information and knowledge. This category of constraints is inextricably linked with the size of the reform undertakings. The architects of reforms do not have the knowledge needed for designing big institutional changes. Moreover, the big changes take the system far a field from its initial position, the one to be overcome by the reform process. Both features generate two distinct types of uncertainty which are sources of potential hazards and could easily produce the breakdown of the system as a whole with well-known disastrous consequences. This reasoning turns down to the standard argument of feasibility and (there- fore) desirability of the Popper-like piecemeal engineering. Another important issue is the necessity/desirability of preserving old institutions while the new ones are being built lest institutional vacua be developed with disastrous consequences. The argument is analogous to the tenor of the Burke critique of the French Revolution. The upshot of the analysis is that quick implementation of the far-reaching changes is not to be expected and that the going criticisms of the alleged sluggishness of reforms are to some extent ill-advised.

Postharvest packaging.

2021 ◽  
Author(s):  
John Golding
Keyword(s):  
Supply Chain ◽  
Product Quality ◽  
Vital Role ◽  
Cut Flowers ◽  
Essential Component ◽  
The One

Abstract Packaging is an essential component of getting horticultural produce (fruit, vegetables or cut flowers) from the farm to the consumer. Packaging allows for the ease of handling and serves a vital role to protect and maintain product quality through the supply chain. Packaging of horticultural produce can be made of a range of products such as wood, fibreboard, jute (hessian) or plastics, where each packaging type is suitable for different applications. The best packaging type is the one that meets its purpose.

Missing Part of Halal Supply Chain Management

2018 ◽  
pp. 5456-5464 ◽  
Author(s):  
Ratih Hendayani ◽  
Yudi Fernando
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Islamic Law ◽  
Financial System ◽  
Chain Management ◽  
Product Demand ◽  
Supply Chain Financing ◽  
Financial Flow ◽  
New Perspective ◽  
The One

The increasing Halal product demand in the world made the Halal product industry should make sure all companies operation especially companies supply chain could guarantee product Halalness, so companies supply chain should comply Shariah or Islamic law. Some research about Halal supply chain already publish and give various perspectives about this topic. But unfortunately, there are one important thing that not discuss in previous research about Halal supply chain, the one important things is Islamic financial system that actually can support operation of Halal supply chain because based on the Islamic financial concept, the Halal supply chain can be not Halal or barakah if the supply chain financing not also comply with the Islamic law. For the integrated Halal supply chain, need included the Islamic Financial system, and this chapter will discuss Islamic financial that include in the Halal supply chain such as a Halal fund for the supply chain cost and Halal Financial flow. And bring a new perspective and definition of Halal supply chain management.

Confirmational Holism and Theory Choice: Arrow Meets Duhem

Mind ◽  
2019 ◽  
Vol 129 (513) ◽  
pp. 71-111 ◽  
Author(s):  
Eleonora Cresto ◽  
Diego Tajer
Keyword(s):  
Theory Choice ◽  
Impossibility Theorem ◽  
Arrow’S Theorem ◽  
Epistemic Virtues ◽  
Evidence Amalgamation ◽  
Arrow's Impossibility Theorem ◽  
Arrow's Theorem ◽  
The One ◽  
Different Sources ◽  
Positive Light

Abstract In a recent paper Samir Okasha has suggested an application of Arrow’s impossibility theorem to theory choice. When epistemic virtues are interpreted as ‘voters’ in charge of ranking competing theories, and there are more than two theories at stake, the final ordering is bound to coincide with the one proposed by one of the voters (the dictator), provided a number of seemingly reasonable conditions are in place. In a similar spirit, Jacob Stegenga has shown that Arrow’s theorem applies to the amalgamation of evidence; the ‘voters’ here are the different sources of evidence. As with Okasha’s proposal, it is not clear how to avoid Arrow’s pessimistic conclusion. In this paper we develop a novel argument that purports to show that, in typical examples, Arrow’s result does not obtain when dealing with evidence amalgamation. The reason is that we cannot escape the well-known Duhem problem: the evidence actually confirms (or disconfirms) complex conjunctions that include various auxiliary hypotheses. We argue that confirmational holism induces us to restrict the domain of a reasonable amalgamation function, thus violating one of Arrow’s conditions. The upshot is that we are now able to see the Duhem problem under a different, positive light – namely, as a phenomenon that makes the aggregation of the evidence possible in the first place, when there are at least three options on the table.

scholarly journals Mobile application for the purpose of marketing, product distribution and location-based logistics for elderly farmers

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sumitra Nuanmeesri
Keyword(s):  
Supply Chain ◽  
Mobile Application ◽  
Product Distribution ◽  
Agricultural Product ◽  
A Value ◽  
Service Supply Chain ◽  
Ant Colony Algorithms ◽  
User Comprehension ◽  
One Stop ◽  
The One

This research has developed a one-stop service supply chain mobile application for the purpose of marketing, product distribution and location-based logistics for elderly farmers and consumers in accordance with the Thailand 4.0 economic model. This is an investigation into the agricultural product distribution supply chain which focuses on marketing, distribution and logistics using the Dijkstra’s and Ant Colony Algorithms to respectively explore the major and minor product transport routes. The accuracy rate was determined to be 97%. The application is congruent with the product distribution, supply chain, in a value-based economy. The effectiveness of the mobile application was indicated to be at the highest level of results of learning outcomes, user comprehension and user experience of users. That is, the developed mobile application could be effectively used as a tool to support elderly farmers to distribute their agricultural products in the one-stop service supply chain which emphasizes marketing, distribution and location-based logistics for elderly farmers and consumers with respect to Thailand 4.0.

scholarly journals Supply chain performance attributes for the fast moving consumer goods industry

2011 ◽  
Vol 5 (1) ◽  
Author(s):  
Madhu Bala ◽  
Dinesh Kumar
Keyword(s):  
Supply Chain ◽  
Supply Chains ◽  
Consumer Goods ◽  
Fast Moving ◽  
Research Paper ◽  
Supply Chain Performance ◽  
Product Categories ◽  
Fast Moving Consumer Goods ◽  
Operational Models ◽  
The One

This research paper identifies the supply chain performance attributes that are relevant to the Fast Moving Consumer Goods (FMCG) industry. The FMCG supply chains are analysed from the perspective of processes, components and typology. The typical issues faced by the FMCG supply chains are also explored. Three supply chain operational models are compared and identify SCOR as the one best suited for the FMCG industry. The survey, conducted with the respondents from four research cases across two product categories, demonstrates the acceptance and the usage of the performance attributes for the FMCG supply chains. The results also include the analysis of the typology of the research cases across two product categories.

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