scholarly journals Pricing and Return Policies in a Competitive Market: A Consumer-Valuation Based Analysis with Valuation Uncertainties

2021 ◽  
Vol 13 (3) ◽  
pp. 1432
Author(s):  
Huifang Jiao ◽  
Xuan Wang ◽  
Chi To Ng ◽  
Lijun Ma
Keyword(s):  
Competitive Market ◽  
Two Dimensional ◽  
Competitive Markets ◽  
Return Policies ◽  
Numerical Investigations ◽  
Return Policy ◽  
Consumer Valuation ◽  
Competition Models ◽  
Monopoly Market ◽  
Duopoly Market

In this study, we develop a series of consumer-valuation-based models to investigate the pricing and return policies of the sellers in a competitive e-commerce market. Differing from the competition models in literature, a novel two-dimensional valuation structure is built, which considers the valuations of a consumer on two products and the valuation differentiation of all consumers on each product. We consider both monopoly and duopoly (competitive) markets. In each market, two models are respectively developed, one with and one without the return policies. We derive the solutions for the four models, and conduct some analytical and numerical investigations. The results show that return policy with a partial refund is always chosen by the sellers in both monopoly and duopoly markets. Return policy benefits the seller in a monopoly market, but may not benefit the sellers in a duopoly market. In the duopoly models, one seller can be considered as a monopoly seller who meets a new competitor. Our results show that the monopoly seller will reduce its price by no more than 20% when there comes a competitor, and, counter-intuitively, it will meanwhile adopt a severer return policy to the consumers.

scholarly journals Foundations of Contemporary Economics: Israel Kirzner and the Function of Entrepreneurship

2021 ◽  
Vol 27 (1) ◽  
pp. 121-127
Keyword(s):  
Decision Making ◽  
Competitive Market ◽  
Austrian School ◽  
Market Process ◽  
Short Paper ◽  
Competitive Markets ◽  
Market Driven

Israel Kirzner has made profound contribu­tions to the theory of entrepreneurship. His con­siderable insights address the entrepreneurial function in the market process. Kirzner belongs to the Austrian school and hence assumes subjective decision-making, incomplete sets of knowledge for all subjects, and market disequi­libria. He ascribes to entrepreneurs the ability to detect through alertness market disequilibria in dynamic competitive markets. Entrepreneurs as arbitrageurs bring markets closer to equilib­ria even if in a dynamic competitive market an equilibrium remains a theoretical utopia. In this short paper, we outline the most important as­pects of Kirzner’s entrepreneurial approach and the function entrepreneurship has in market-driven processes.

Numerical Investigations on Detonation Propagation in a Two-Dimensional Curved Channel

2014 ◽  
Vol 186 (10-11) ◽  
pp. 1662-1679 ◽  
Author(s):  
Yuta Sugiyama ◽  
Yoshio Nakayama ◽  
Akiko Matsuo ◽  
Hisahiro Nakayama ◽  
Jiro Kasahara
Keyword(s):  
Two Dimensional ◽  
Curved Channel ◽  
Detonation Propagation ◽  
Numerical Investigations

The Victory of National Interest: Debates on the Belgian Forced Return Policy, 1998–2013

2017 ◽  
Vol 3 (1) ◽  
pp. 1-21
Author(s):  
Jef Poppelmonde ◽  
Idesbald Goddeeris
Keyword(s):  
Refugee Crisis ◽  
Host Countries ◽  
Refugee Convention ◽  
Return Policies ◽  
The Public ◽  
Return Policy ◽  
Political Conversation ◽  
The Media ◽  
The Subject ◽  
Forced Return

Based on the 1951 Refugee Convention, persons who have left their country ‘owing to well-founded fear of being persecuted for reasons of race, religion, nationality, membership of a particular social group, or political opinion’ are entitled to protection. The principle of non-refoulement provides that ‘no country shall expel or return a refugee against his or her will, in any manner whatsoever, to a territory where he or she fears threats to life or freedom’. 1 Following the increasing numbers of asylum seekers in the 1990s, host countries began to apply the Refugee Convention criteria more strictly and refused a growing number of applicants. 2 Since the summer of 2015 Europe has found itself in the middle of what is described as a ‘refugee crisis’. The crisis has brought debates about asylum, borders and return policies to the centre of the public and political conversation. A growing portion of society has called for a stricter asylum policy. This article will argue that even before this latest ‘refugee crisis’ discourses on asylum were becoming more restrictive, with a growing focus on return rather than protection. It will also show that the debates on asylum keep moving away from the definition provided in the 1951 Refugee Convention. It will do so by comparing the Belgian debates on forced return – and on asylum in general, which is inseparably connected to the subject – in the media and parliament during two periods: 1998–2001 and 2011–2013. 3 In the first section, we will elaborate on the theoretical framework of the analysis, paying attention to relevant concepts and secondary literature, as well as to the research questions and methodology. We will then discuss the most important empirical data on the debates’ topics and stances. In a third and final section, the major shifts in the debates will be analysed.

SUPPLY CHAIN COORDINATION WITH CONTRACTS GAME BETWEEN COMPLEMENTARY SUPPLIERS

2007 ◽  
Vol 06 (01) ◽  
pp. 163-175 ◽  
Author(s):  
DING DING ◽  
JIAN CHEN
Keyword(s):  
Supply Chain ◽  
Stable Equilibrium ◽  
Supply Chain Coordination ◽  
Stochastic Demand ◽  
The Other ◽  
Simple Rule ◽  
Return Policies ◽  
Return Policy ◽  
Single Period ◽  
Period Model

This paper studies a supply chain consisting of two suppliers and an assembler who also acts as a retailer in a single period model. The suppliers provide complementary modules to the assembler and the latter assembles the final products and sells them to meet a stochastic demand. Each supplier can improve his performance by offering a return policy to the assembler while the best contract depends on that offered by the other supplier. We show that the non-cooperative contracts game between the firms has a unique and stable equilibrium in which the optimal return policies happen to fully coordinate the whole channel. Moreover, the suppliers still have the rights to negotiate with the assembler independently to share their profits properly. With such properties, the suppliers are encouraged to offer return policies to the assembler by following a simple rule derived from the favorable equilibrium, which will lead to a win-win-win situation.

CONNECTIONS BETWEEN SADDLES FOR THE FITZHUGH–NAGUMO SYSTEM

2001 ◽  
Vol 11 (02) ◽  
pp. 533-540 ◽  
Author(s):  
CARMEN ROCŞOREANU ◽  
NICOLAIE GIURGIŢEANU ◽  
ADELINA GEORGESCU
Keyword(s):  
Dynamical System ◽  
Homoclinic Bifurcation ◽  
Parameter Plane ◽  
Saddle Connection ◽  
Local Bifurcation ◽  
Two Dimensional ◽  
Bifurcation Diagrams ◽  
Numerical Investigations ◽  
Codimension One ◽  
Saddle Node

By studying the two-dimensional FitzHugh–Nagumo (F–N) dynamical system, points of Bogdanov–Takens bifurcation were detected (Sec. 1). Two of the curves of homoclinic bifurcation emerging from these points intersect each other at a point of double breaking saddle connection bifurcation (Sec. 2). Numerical investigations of the bifurcation curves emerging from this point, in the parameter plane, allowed us to find other types of codimension-one and -two bifurcations concerning the connections between saddles and saddle-nodes, referred to as saddle-node–saddle connection bifurcation and saddle-node–saddle with separatrix connection bifurcation, respectively. The local bifurcation diagrams corresponding to these bifurcations are presented in Sec. 3. An analogy between the bifurcation corresponding to the point of double homoclinic bifurcation and the point of double breaking saddle connection bifurcation is also presented in Sec. 3.

OBSERVABILITY OF CHAOS AND CYCLES IN ECOLOGICAL SYSTEMS: LESSONS FROM PREDATOR–PREY MODELS

2009 ◽  
Vol 19 (10) ◽  
pp. 3169-3234 ◽  
Author(s):  
RANJIT KUMAR UPADHYAY
Keyword(s):  
Deterministic Chaos ◽  
Ecological Systems ◽  
Competition Model ◽  
The Other ◽  
Model Systems ◽  
Two Dimensional ◽  
Exploitative Competition ◽  
Dynamical Chaos ◽  
Predator Prey ◽  
Competition Models

We examine and assess deterministic chaos as an observable. First, we present the development of model ecological systems. We illustrate how to apply the Kolmogorov theorem to obtain limits on the parameters in the system, which assure the existence of either stable equilibrium point or stable limit cycle behavior in the phase space of two-dimensional (2D) dynamical systems. We also illustrate the method of deriving conditions using the linear stability analysis. We apply these procedures on some basic existing model ecological systems. Then, we propose four model ecological systems to study the dynamical chaos (chaos and intermittent chaos) and cycles. Dynamics of two predation and two competition models have been explored. The predation models have been designed by linking two predator–prey communities, which differ from one another in one essential way: the predator in the first is specialist and that in the second is generalist. The two competition models pertain to two distinct competition processes: interference and exploitative competition. The first competition model was designed by linking two predator–prey communities through inter-specific competition. The other competition model assumes that a cycling predator–prey community is successfully invaded by a predator with linear functional response and coexists with the community as a result of differences in the functional responses of the two predators. The main criterion behind the selection of these two model systems for the present study was that they represent diversity of ecological interactions in the real world in a manner which preserves mathematical tractability. For investigating the dynamic behavior of the model systems, the following tools are used: (i) calculation of the basin boundary structures, (ii) performing two-dimensional parameter scans using two of the parameters in the system as base variables, (iii) drawing the bifurcation diagrams, and (iv) performing time series analysis and drawing the phase space diagrams. The results of numerical simulation are used to distinguish between chaotic and cyclic behaviors of the systems.The conclusion that we obtain from the first two model systems (predation models) is that it would be difficult to capture chaos in the wild because ecological systems appear to change their attractors in response to changes in the system parameters quite frequently. The detection of chaos in the real data does not seem to be a possibility as what is present in ecological systems is not robust chaos but short-term recurrent chaos. The first competition model (interference competition) shares this conclusion with those of predation ones. The model with exploitative competition suggests that deterministic chaos may be robust in certain systems, but it would not be observed as the constituent populations frequently execute excursions to extinction-sized densities. Thus, no matter how good the data characteristics and analysis techniques are, dynamical chaos may continue to elude ecologists. On the other hand, the models suggest that the observation of cyclical dynamics in nature is the most likely outcome.

Numerical Investigation on Performance of a Porous Medium Burner with Reciprocating Flow

2013 ◽  
Vol 781-784 ◽  
pp. 2741-2744
Author(s):  
Jun Rui Shi ◽  
Zhi Peng Wu ◽  
Yang Yang ◽  
Zhi Jia Xue ◽  
Xiu Li Zhang
Keyword(s):  
Porous Medium ◽  
Porous Media ◽  
Equivalence Ratio ◽  
Moderate Pressure ◽  
Two Dimensional ◽  
Numerical Investigations ◽  
Structure Improvement ◽  
Burner Design ◽  
Porous Media Burner ◽  
Reciprocating Flow

Two-dimensional numerical investigations on the performance and structure improvement of a inert porous media burner with reciprocating flow are presented. An improved burner design is proposed and this leads to a wider high temperature profile and moderate pressure loss for extremely dilute CH4/air mixture with an equivalence ratio of 0.1.

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