Optimal decisions on fencing, pricing, and selection of process mean in imperfectly segmented markets

2020 ◽  
Vol 54 (6) ◽  
pp. 1573-1592
Author(s):  
Syed Asif Raza
Keyword(s):  
Harmony Search ◽  
Stochastic Demand ◽  
Quality Characteristic ◽  
Process Mean ◽  
Manufacturing Firm ◽  
Specification Limit ◽  
Numerical Experimentation ◽  
Production Quantity ◽  
The Impact ◽  
Selection Of

This paper integrates the selection of a process mean, production and marketing decisions at a firm’s level. We discussed a manufacturing firm’s problem that integrates its manufacturing decisions on production quantities and selection of a process mean with marketing decisions. The marketing decisions include setting prices, and the fencing investment to mitigate the effect of demand leakages between market segments. The manufacturing firm yields products of varied quality based on a single quality characteristic (e.g., amount of fill). The firm operates in a monopoly, and manufacturing process is assumed to follow a normal distribution, and therefore, it produces multi-grade (class) products distinct in their single quality characteristic. Depending upon the quality characteristic, a product with quality characteristic equal to greater than the upper specification limit is classified as grade 1 product, and sold in primary market at a full price. When the quality characteristic falls between the lower and the upper specification limits, it is referred to as a grade 2 product, and sold in a secondary market at a discounted price. Any product with a quality characteristic lower than the lower specification limit is reworked at an additional cost. A 100% error-free inspection is conducted to segregate the products at a negligible cost. Unlike many related studies in literature, this research proposes a novel integration of the pricing and production quantity decisions along with the process targeting in the two markets with pricing decision in the presence of demand leakages due to cross-elasticity. Furthermore, it is assumed that the firm can mitigate the demand leakage at an additional investment on improving fencing. Thus, the firm’s optimal decision would also include the pricing in each market segment, and fencing investment along with its decision on the production quantity for each product class. Mathematical models are developed to address this problem assuming the price-dependent stochastic demand. Structural properties of these models are explored and efficient heuristic solution methodologies are developed. Later, we also developed models when the stochastic demand information is only partially known, and proposed Harmony Search algorithm on the problem. Numerical experimentation is reported to highlight the importance of the proposed integrated framework and the impact of the problem related parameters on a firm’s profitability and its integrated optimal control decisions on selection of a process mean, pricing, production quantity, and fencing investment.

The impact of differentiation price and demand leakage on a firm’s profitability

2015 ◽  
Vol 10 (3) ◽  
pp. 270-295 ◽  
Author(s):  
Syed Asif Raza
Keyword(s):  
Stochastic Demand ◽  
Optimal Decision ◽  
Joint Control ◽  
Market Demand ◽  
Content Type ◽  
Deterministic Demand ◽  
Mathematical Expressions ◽  
Inventory Decisions ◽  
The Impact ◽  
Selection Of

Purpose – The purpose of this paper is to study the impact of differentiation price which has been utilized to segment demand, but results in imperfect segmentation. The use of a differentiation price is among the most widely used Revenue Management (RM) techniques to segment a firm’s demand to augment profitability. Design/methodology/approach – Mathematical models are developed for a firm’s RM which use a differentiation price to categorize its market demand into two segments. Three distinct demand situations are considered: price-dependent deterministic demand, price-dependent stochastic demand whose distribution is known and price-dependent stochastic demand whose distribution is unknown. Models are analyzed to determine optimal joint control of a firm’s pricing and inventory decisions for each market segment. Findings – The analysis of the firm’s RM model has shown that revenue is jointly concave in pricing and order quantity. In most demand situations, closed-form mathematical expressions for optimal pricing and inventory are obtained. Research limitations/implications – In RM models developed in this paper, a firm only selects a differentiation price. Thus, an optimal selection of the differentiation price along with the pricing and inventory decisions may lead to an additional profitability which has not been explored in this research. Practical implications – The findings reported are relevant to RM managers and practitioners and help them to calibrate their optimal revenues by segmenting markets using a differentiation price. Social implications – This paper provides a quantitative perspective of a firm’s decision on the use of the differentiation price and the market response. Originality/value – The paper provides a firm’s optimal decision on pricing and inventory when it experiences demand leakage due to categorizing its market demand into two segments using a differentiation price.

Methods for Restricting Maximum Exposure Rate in Computerized Adaptative Testing

Methodology ◽  
2007 ◽  
Vol 3 (1) ◽  
pp. 14-23 ◽  
Author(s):  
Juan Ramon Barrada ◽  
Julio Olea ◽  
Vicente Ponsoda
Keyword(s):  
Measurement Accuracy ◽  
Computerized Adaptive Testing ◽  
Computation Time ◽  
Adaptive Testing ◽  
Exposure Rate ◽  
Control Parameters ◽  
The Impact ◽  
Two Alternatives ◽  
Selection Of ◽  
Maximum Exposure

Abstract. The Sympson-Hetter (1985) method provides a means of controlling maximum exposure rate of items in Computerized Adaptive Testing. Through a series of simulations, control parameters are set that mark the probability of administration of an item on being selected. This method presents two main problems: it requires a long computation time for calculating the parameters and the maximum exposure rate is slightly above the fixed limit. Van der Linden (2003) presented two alternatives which appear to solve both of the problems. The impact of these methods in the measurement accuracy has not been tested yet. We show how these methods over-restrict the exposure of some highly discriminating items and, thus, the accuracy is decreased. It also shown that, when the desired maximum exposure rate is near the minimum possible value, these methods offer an empirical maximum exposure rate clearly above the goal. A new method, based on the initial estimation of the probability of administration and the probability of selection of the items with the restricted method ( Revuelta & Ponsoda, 1998 ), is presented in this paper. It can be used with the Sympson-Hetter method and with the two van der Linden's methods. This option, when used with Sympson-Hetter, speeds the convergence of the control parameters without decreasing the accuracy.

Impact of removing ESBL designation from culture reports on the selection of antibiotics for the treatment of infections associated with ESBL-producing organisms

2020 ◽  
Vol 41 (5) ◽  
pp. 604-607 ◽  
Author(s):  
Mark D. Lesher ◽  
Cory M. Hale ◽  
Dona S. S. Wijetunge ◽  
Matt R. England ◽  
Debra S. Myers ◽  
...  
Keyword(s):  
Antimicrobial Stewardship ◽  
Antibiotic Prescribing ◽  
The Impact ◽  
Inhibitor Combination ◽  
Lactamase Inhibitor ◽  
Selection Of

AbstractWe characterized the impact of removal of the ESBL designation from microbiology reports on inpatient antibiotic prescribing. Definitive prescribing of carbapenems decreased from 48.4% to 16.1% (P = .01) and β-lactam–β-lactamase inhibitor combination increased from 19.4% to 61.3% (P = .002). Our findings confirm the importance of collaboration between microbiology and antimicrobial stewardship programs.

scholarly journals The Impact of Alkaloid-Producing Epichloë Endophyte on Forage Ryegrass Breeding: A New Zealand Perspective

Toxins ◽  
2021 ◽  
Vol 13 (2) ◽  
pp. 158
Author(s):  
Colin Eady
Keyword(s):  
Seed Production ◽  
Health Issues ◽  
Abiotic Stressors ◽  
Livestock Health ◽  
The Right ◽  
The Impact ◽  
The Relationship ◽  
And Storage ◽  
Selection Of ◽  
Epichloë Endophyte

For 30 years, forage ryegrass breeding has known that the germplasm may contain a maternally inherited symbiotic Epichloë endophyte. These endophytes produce a suite of secondary alkaloid compounds, dependent upon strain. Many produce ergot and other alkaloids, which are associated with both insect deterrence and livestock health issues. The levels of alkaloids and other endophyte characteristics are influenced by strain, host germplasm, and environmental conditions. Some strains in the right host germplasm can confer an advantage over biotic and abiotic stressors, thus acting as a maternally inherited desirable ‘trait’. Through seed production, these mutualistic endophytes do not transmit into 100% of the crop seed and are less vigorous than the grass seed itself. This causes stability and longevity issues for seed production and storage should the ‘trait’ be desired in the germplasm. This makes understanding the precise nature of the relationship vitally important to the plant breeder. These Epichloë endophytes cannot be ‘bred’ in the conventional sense, as they are asexual. Instead, the breeder may modulate endophyte characteristics through selection of host germplasm, a sort of breeding by proxy. This article explores, from a forage seed company perspective, the issues that endophyte characteristics and breeding them by proxy have on ryegrass breeding, and outlines the methods used to assess the ‘trait’, and the application of these through the breeding, production, and deployment processes. Finally, this article investigates opportunities for enhancing the utilisation of alkaloid-producing endophytes within pastures, with a focus on balancing alkaloid levels to further enhance pest deterrence and improving livestock outcomes.

scholarly journals An IoT-Based Participatory Antitheft System for Public Safety Enhancement in Smart Cities

Smart Cities ◽  
2021 ◽  
Vol 4 (2) ◽  
pp. 919-937
Author(s):  
Nikos Papadakis ◽  
Nikos Koukoulas ◽  
Ioannis Christakis ◽  
Ilias Stavrakas ◽  
Dionisis Kandris
Keyword(s):  
Smart Cities ◽  
Low Cost ◽  
Negative Influence ◽  
Asset Tracking ◽  
Tracking Tasks ◽  
Tracking Process ◽  
The Impact ◽  
Operation Center ◽  
Safety Enhancement ◽  
Selection Of

The risk of theft of goods is certainly an important source of negative influence in human psychology. This article focuses on the development of a scheme that, despite its low cost, acts as a smart antitheft system that achieves small property detection. Specifically, an Internet of Things (IoT)-based participatory platform was developed in order to allow asset-tracking tasks to be crowd-sourced to a community. Stolen objects are traced by using a prototype Bluetooth Low Energy (BLE)-based system, which sends signals, thus becoming a beacon. Once such an item (e.g., a bicycle) is stolen, the owner informs the authorities, which, in turn, broadcast an alert signal to activate the BLE sensor. To trace the asset with the antitheft tag, participants use their GPS-enabled smart phones to scan BLE tags through a specific smartphone client application and report the location of the asset to an operation center so that owners can locate their assets. A stolen item tracking simulator was created to support and optimize the aforementioned tracking process and to produce the best possible outcome, evaluating the impact of different parameters and strategies regarding the selection of how many and which users to activate when searching for a stolen item within a given area.

scholarly journals Simulation Verification of the Contact Parameter Influence on the Forces’ Course of Cereal Grain Impact against a Stiff Surface

2021 ◽  
Vol 11 (2) ◽  
pp. 466
Author(s):  
Włodzimierz Kęska ◽  
Jacek Marcinkiewicz ◽  
Łukasz Gierz ◽  
Żaneta Staszak ◽  
Jarosław Selech ◽  
...  
Keyword(s):  
Dynamic Properties ◽  
Decisive Role ◽  
Force Sensor ◽  
Contact Forces ◽  
Correct Selection ◽  
Contact Parameter ◽  
Cereal Grain ◽  
Wide Range ◽  
The Impact ◽  
Selection Of

The continuous development of computer technology has made it applicable in many scientific fields, including research into a wide range of processes in agricultural machines. It allows the simulation of very complex physical phenomena, including grain motion. A recently discovered discrete element method (DEM) is used for this purpose. It involves direct integration of equations of grain system motion under the action of various forces, the most important of which are contact forces. The method’s accuracy depends mainly on precisely developed mathematical models of contacts. The creation of such models requires empirical validation, an experiment that investigates the course of contact forces at the moment of the impact of the grains. To achieve this, specialised test stations equipped with force and speed sensors were developed. The correct selection of testing equipment and interpretation of results play a decisive role in this type of research. This paper focuses on the evaluation of the force sensor dynamic properties’ influence on the measurement accuracy of the course of the plant grain impact forces against a stiff surface. The issue was examined using the computer simulation method. A proprietary computer software with the main calculation module and data input procedures, which presents results in a graphic form, was used for calculations. From the simulation, graphs of the contact force and force signal from the sensor were obtained. This helped to clearly indicate the essence of the correct selection of parameters used in the tests of sensors, which should be characterised by high resonance frequency.

Does Wrongdoer Reputation Matter? Impact of Auditor-Wrongdoer Performance and Likeability Reputations on Fellow Auditors' Intention to Take Action and Choice of Reporting Outlet

2011 ◽  
Vol 23 (2) ◽  
pp. 207-234 ◽  
Author(s):  
Jesse C. Robertson ◽  
Chad M. Stefaniak ◽  
Mary B. Curtis
Keyword(s):  
Two Dimensions ◽  
Data Availability ◽  
Good Performer ◽  
Reporting Decisions ◽  
Prior Literature ◽  
Reporting Channel ◽  
Channel Preferences ◽  
Main Effects ◽  
The Impact ◽  
Selection Of

ABSTRACT We investigate the effects of auditor-wrongdoer reputations for performance and likeability on fellow auditors' intentions to take action in response to a questionable audit act. We also use this context to explore auditor selection of reporting outlets, when they do choose to take action. In an experiment with 181 auditors, main effects suggest that likeability reputation is a significant determinant of intention to take action, while performance reputation is marginally significant. As expected, interaction results indicate that auditors have the greatest intention to take action against less likeable, poor performers. Contrary to expectations, intention to take action against a more likeable, good performer is no lower than the mixed conditions. Thus, the influence of the two dimensions of reputation is complex. Additionally, we find auditors are more likely to whistle-blow internally than externally, and through non-anonymous outlets than anonymous outlets. Our contributions include exploring the impact of reputation on the actions of third parties, and advancing prior literature by considering the influence of wrongdoer attributes on reporting decisions and auditors' reporting channel preferences. Data Availability: Data are available from the first author upon request.

scholarly journals A Qualitative Study of COVID-19 Distress in University Students

2021 ◽  
pp. 216769682110251
Author(s):  
Samantha G. Farris ◽  
Mindy M. Kibbey ◽  
Erick J. Fedorenko ◽  
Angelo M. DiBello
Keyword(s):  
University Students ◽  
Undergraduate Students ◽  
Mental Health Problems ◽  
Financial Strain ◽  
Public Response ◽  
Viral Spread ◽  
Future Work ◽  
The Impact ◽  
Viral Outbreak ◽  
Selection Of

The psychological effect of the pandemic and measures taken in response to control viral spread are not yet well understood in university students; in-depth qualitative analysis can provide nuanced information about the young adult distress experience. Undergraduate students ( N = 624) in an early US outbreak “hotspot” completed an online narrative writing about the impact and distress experienced due to the COVID-19 pandemic. Data were collected April-May 2020. A random selection of 50 cases were sampled for thematic analysis. Nine themes were identified: viral outbreak distress, fear of virus contraction/transmission, proximity to virus, dissatisfaction with public response, physical distancing distress, social distancing distress, academic and school-related distress, disruptive changes in health behavior and routines, financial strain and unemployment, worsening of pre-existing mental health problems, and social referencing that minimizes distress. Future work is needed to understand the persistence of the distress, in addition to developing methods for assessment, monitoring, and mitigation of the distress.

scholarly journals Characterization of Carrier Phase-Based Positioning in Real-World Jamming Conditions

2021 ◽  
Vol 13 (14) ◽  
pp. 2680
Author(s):  
Søren Skaarup Larsen ◽  
Anna B. O. Jensen ◽  
Daniel H. Olesen
Keyword(s):  
Real World ◽  
Carrier Phase ◽  
Reference Station ◽  
Baseline Length ◽  
Dual Frequency ◽  
Positioning Accuracy ◽  
The Impact ◽  
Single Versus ◽  
Selection Of

GNSS signals arriving at receivers at the surface of the Earth are weak and easily susceptible to interference and jamming. In this paper, the impact of jamming on the reference station in carrier phase-based relative baseline solutions is examined. Several scenarios are investigated in order to assess the robustness of carrier phase-based positioning towards jamming. Among others, these scenarios include a varying baseline length, the use of single- versus dual-frequency observations, and the inclusion of the Galileo and GLONASS constellations to a GPS only solution. The investigations are based on observations recorded at physical reference stations in the Danish TAPAS network during actual jamming incidents, in order to realistically evaluate the impact of real-world jamming on carrier phase-based positioning accuracy. The analyses performed show that, while there are benefits of using observations from several frequencies and constellations in positioning solutions, special care must be taken in solution processing. The selection of which GNSS constellations and observations to include, as well as when they are included, is essential, as blindly adding more jamming-affected observations may lead to worse positioning accuracy.

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