Impact of tobacco tax increase in 2016 and 2019 in retail prices in Vietnam

We argue that falling farm product prices, incomes, and spending may explain 10–30 percent of the 1930 U.S. output decline. Crop prices collapsed, reducing farmers’ incomes. And across U.S. states and Ohio counties, auto sales fell most in crop-growing areas. The large spending response may be explained by farmers’ indebtedness. Reasonable assumptions about the marginal propensity to spend of farmers relative to nonfarmers and the pass-through of farm prices to retail prices imply that the collapse of farm product prices in 1930 was a powerful propagation mechanism worsening the Depression.

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Strategic Analysis of the Pricing Mechanisms in an Online Book Supply Chain in the Presence of Reference Price Effects

Journal of theoretical and applied electronic commerce research ◽

10.3390/jtaer16050084 ◽

2021 ◽

Vol 16 (5) ◽

pp. 1492-1516

Author(s):

Wenhua Hou ◽

Yuwen Zeng

Keyword(s):

Supply Chain ◽

Discount Rate ◽

Reference Price ◽

Stackelberg Game ◽

Lower Boundary ◽

Retail Price ◽

Reference Points ◽

Price Effects ◽

Retail Prices ◽

Online Book

(1) Background: A binding recommended retail price has been used in several markets in a variety of forms, and the book market is a typical example. Publishers sell books to online retailers at a unit wholesale discount computed on the cover price. Retailers are then allowed to set the retail price. Therefore, if consumers regard the cover prices as reference points, then they may be more likely to purchase books if retail prices are lower than the cover prices. (2) Methods: We develop a Stackelberg game model for a book supply chain to investigates how reference price effects affect retailers and publisher’s pricing strategies. (3) Results: The results show that retailers will sell printed books at a discount only when the publisher’s wholesale discount rate is not high. Further, as the intensity of the reference price effects increases, (a) the lower boundary of the wholesale discount rate rises, (b) publishers’ profits increase and (c) retailers’ profits increase relative to the level of consumers’ e-books acceptance. (4) Conclusions: This result is related to the fact that the online retailer, such as Amazon and JD.com, like to invoke reference price effects in consumers’ minds by highlighting the printed book’s discount rate.

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The Optimal Mechanism Design of Retail Prices in the Electricity Market for Several Types of Consumers

Mathematics ◽

10.3390/math9101147 ◽

2021 ◽

Vol 9 (10) ◽

pp. 1147

Author(s):

Natalia Aizenberg ◽

Nikolai Voropai

Keyword(s):

Electricity Market ◽

Electric Power System ◽

Optimal Mechanism ◽

General Welfare ◽

Different Types ◽

Payment Schemes ◽

Retail Prices ◽

Adverse Selection Problem ◽

Pricing Schemes ◽

Dependent Demand

In this paper, we discuss the demand side management (DSM) problem: how to incentivize a consumer to equalize the load during the day through price-dependent demand. Traditionally, the retail market offers several electricity payment schemes. A scheme is effective when the different tariffs satisfy different consumers. At the same time, the existing and generally accepted retail pricing schemes can lead to an "adverse selection" problem when all consumers choose the same price, thereby, reducing the possible general welfare. We propose an optimal design of pricing mechanisms, taking into account the interests of the electricity supplier and different types of consumers. The results of our work are that the optimal mechanism is implemented simultaneously for several periods, including the case when the ratio of types of consumers in periods changes. In addition, the mechanism proposed by us, in contrast to the studies of other researchers, provides an equilibrium close to the socially optimal maximum. We describe the implementation algorithm of the mechanism and provide examples of its action in the electric power system with different types and numbers of consumers.

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