Interdependent lotteries and the jackpot model of lottery demand

2019 ◽  
Author(s):  
George Geronikolaou
Keyword(s):  
Profit Optimization ◽  
Main Driver ◽  
Single Operator ◽  
Optimization Rule ◽  
Grand Prize

Bettors may view different gambles either as substitutes or complements. Assuming that the grand prize is the main driver of the demand for multi-prize lottery bets, this paper presents a theory of lottery sales maximization considering possible complementarity or substitutability among different lottery gambles offered by a single operator. Optimal payout ratios are derived accounting not only for interrelation among games but also for their relative popularity. The new profit optimization rule is then applied to a dataset of two Greek lotteries.

REINTERPRETASI HADIS PENAKLUKAN KONSTANTINOPEL PERSPEKTIF FAZLUR RAHMAN

2020 ◽  
Vol 3 (1) ◽  
pp. 56-85
Author(s):  
Harel Bayu Paizin
Keyword(s):  
Main Driver

This paper discusses the criticism conveyed by Rahman on the understanding of hadith that has been developed in the midst of Islamic societies regarding the hadith about the conquest of Constantinople, where so far the hadith about the conquest of Constantinople is believed to be the main driver of Islamic commanders to conquer Constantinople. But Fazlur Rahman denied it by stating that the hadith was a hadith that emerge during the period of defamation which was used by certain groups to support their ambitions. To support his suspicion, Rahman offers a methodology called the theory of historicity, where each hadith must be seen first in terms of the history that follows it. The results obtained from the hadith about the conquest caused a shift in understanding that had been believed by Muslims that the conquest of Constantinople was inspired by the hadith that was revealed by the Prophet Muhammad.

Regular estimates of paddock pasture mass can improve profitability on New Zealand dairy farms

2015 ◽  
Vol 77 ◽  
pp. 29-34 ◽  
Author(s):  
P.C. Beukes ◽  
S. Mccarthy ◽  
C.M. Wims ◽  
A.J. Romera
Keyword(s):  
Supply And Demand ◽  
Grazing Management ◽  
Average Error ◽  
Value Proposition ◽  
Perfect Knowledge ◽  
Operating Profit ◽  
A Value ◽  
Main Driver ◽  
Imperfect Knowledge ◽  
Farm Scale

Paddock selection is an important component of grazing management and is based on either some estimate of pasture mass (cover) or the interval since last grazing for each paddock. Obtaining estimates of cover to guide grazing management can be a time consuming task. A value proposition could assist farmers in deciding whether to invest resources in obtaining such information. A farm-scale simulation exercise was designed to estimate the effect of three levels of knowledge of individual paddock cover on profitability: 1) "perfect knowledge", where cover per paddock is known with perfect accuracy, 2) "imperfect knowledge", where cover per paddock is estimated with an average error of 15%, 3) "low knowledge", where cover is not known, and paddocks are selected based on longest time since last grazing. Grazing management based on imperfect knowledge increased farm operating profit by approximately $385/ha compared with low knowledge, while perfect knowledge added a further $140/ha. The main driver of these results is the level of accuracy in daily feed allocation, which increases with improving knowledge of pasture availability. This allows feed supply and demand to be better matched, resulting in less incidence of under- and over-feeding, higher milk production, and more optimal post-grazing residuals to maximise pasture regrowth. Keywords: modelling, paddock selection, pasture cover

Optimization Rule of Anode Materials for Solid Oxide Fuel Cells

2015 ◽  
Vol 30 (10) ◽  
pp. 1043
Author(s):  
CHANG Xi-Wang ◽  
CHEN Ning ◽  
WANG Li-Jun ◽  
BIAN Liu-Zhen ◽  
LI Fu-Shen ◽  
...  
Keyword(s):  
Fuel Cells ◽  
Solid Oxide Fuel Cells ◽  
Anode Materials ◽  
Solid Oxide ◽  
Oxide Fuel ◽  
Optimization Rule
Sign in / Sign up

Export Citation Format

Share Document