scholarly journals Effect of Monetary Intervention in the Frame of IS-LM Model with Dynamic Price Adjustment and Adaptive Expectations

2011 ◽  
Vol 59 (1) ◽  
pp. 47-57
Author(s):  
Szomolányi Karol ◽  
Lukáčik Martin ◽  
Lukáčiková Adriana
Keyword(s):  
Price Adjustment ◽  
Adaptive Expectations ◽  
Dynamic Price

Predicting the direction of dynamic price adjustment in the Hong Kong hotel industry

2020 ◽  
pp. 135481662090390
Author(s):  
Ibrahim Mohammed ◽  
Basak Denizci Guillet ◽  
Rob Law ◽  
Wassiuw Abdul Rahaman
Keyword(s):  
Hong Kong ◽  
Dynamic Pricing ◽  
Contextual Factors ◽  
Hotel Industry ◽  
Price Adjustment ◽  
Probit Regression ◽  
Market Conditions ◽  
Negatively Associated ◽  
Dynamic Price ◽  
Price Increases

This study analysed dynamic pricing data of Hong Kong hotels within the last-minute 1-week booking window to determine patterns and direction of room rate changes and their association with hotel characteristics regarding tangible attributes, reputational variables and contextual factors. Findings show that room rates are more likely to increase than decrease or stay constant, and that, holding demand and market conditions constant, the likelihood of price increases (decreases), based on standard binomial probit regression, is positively (negatively) associated with size (tangible attribute), chain affiliation and star rating (reputational attributes), and seller density and location accessibility (contextual factors). These results confirm the importance of differentiation in pricing hotel rooms and indicate how hotel customers and revenue managers can combine these characteristics with predicted demand to anticipate the direction of room rate change in the last-minute booking window as the booking horizon approaches check-in.

scholarly journals Complexity Analysis of Prefabrication Contractors’ Dynamic Price Competition in Mega Projects with Different Competition Strategies

Complexity ◽  
2018 ◽  
Vol 2018 ◽  
pp. 1-9 ◽  
Author(s):  
Jianbo Zhu ◽  
Qianqian Shi ◽  
Peng Wu ◽  
Zhaohan Sheng ◽  
Xiangyu Wang
Keyword(s):  
Price Competition ◽  
Complexity Analysis ◽  
System Stability ◽  
Price Adjustment ◽  
Competition Strategy ◽  
Dynamic Price ◽  
Adjustment Strategy ◽  
The Stability ◽  
Parameter Values ◽  
Initial Capacity

This paper considers a repeated duopoly game of prefabrication contractors in mega infrastructure projects and assumes the contractors exhibit bounded rationality. Based on the theory of bifurcation of dynamical systems, a dynamic price competition model is constructed considering different competition strategies. Accordingly, the stability of the equilibrium point of the system is discussed considering different initial market capacities, and numerical simulation is performed. The results show the system has a unique equilibrium solution when initial capacity is high and the parameters meet certain conditions. The contractors’ price adjustment strategy has an important influence on system stability. However, an overly aggressive competition strategy is not conducive to system stability. Moreover, the system is sensitive to initial parameter values.

scholarly journals A Dynamic Price Game Model in a Low-Carbon, Closed-Loop Supply Chain Considering Return Rates and Fairness Concern Behaviors

2019 ◽  
Vol 16 (11) ◽  
pp. 1978 ◽  
Author(s):  
Qiuxiang Li ◽  
Mengnan Shi ◽  
Yimin Huang
Keyword(s):  
Supply Chain ◽  
Price Adjustment ◽  
Stable Region ◽  
Game Model ◽  
Low Carbon ◽  
Return Rates ◽  
Dynamic Price ◽  
Price Game ◽  
Fairness Concern ◽  
Parameter Values

In this paper, we developed a dynamic price game model for a low-carbon, closed-loop supply chain system in which (1) the manufacturer had fairness concern and carbon emission reduction (CER) behaviors, and market share and profit maximization were their objectives, and (2) the retailer showed fairness concern behaviors in market competition and provided service input to reduce return rates. The retailer recycled old products from customers, and the manufacturer remanufactured the recycled old products. The effects of different parameter values on the stability and utility of the dynamic price game model were determined through analysis and numerical simulation. Results found that an increasing customer loyalty to the direct marketing channel decreased the stable region of the manufacturer’s price adjustment and increase that of the retailer. The stable region of the system shrank with an increase of CER and the retailer’s service level, which expanded with return rates. The dynamic system entered into chaos through flip bifurcation with the increase of price adjustment speed. In the chaotic state, the average utilities of the manufacturer and retailer all declined, while that of the retailer declined even more. Changes to parameter values had a great impact on the utilities of the manufacturer and retailer. By selecting appropriate control parameters, the dynamic system can return to a stable state from chaos again. The research of this paper is of great significance to participants’ price decision-making and supply chain operation management.

scholarly journals Parking and Ride Induction Methods for Drivers in Commuting Scenes

Symmetry ◽  
2021 ◽  
Vol 13 (11) ◽  
pp. 2176
Author(s):  
Lili Zheng ◽  
Zifang Xie ◽  
Tongqiang Ding ◽  
Jianfeng Xi ◽  
Fanyun Meng
Keyword(s):  
Probability Model ◽  
Price Adjustment ◽  
Walking Distance ◽  
Personal Attributes ◽  
Traffic Condition ◽  
Selection Probability ◽  
Adjustment Method ◽  
Dynamic Price ◽  
Guidance Strategies ◽  
Parking Lot

Parking and ride is a very effective method to improve the traffic condition of commuter channels, and it is necessary to develop effective parking guidance strategies. In this study, considering the travel time, walking distance, parking cruise time, parking fee, and personal attributes of drivers, a probability model of parking and ride selection in commuter scenarios was proposed, and a dynamic price adjustment method based on the equilibrium of parking occupancy in the region was constructed. The parking price was adjusted by determining the target occupancy, thus affecting the parking choice behavior to guide the commuter to park. The example analysis showed that this method adjusted the selection probability of the parking lot by using the dynamic price adjustment method from the perspective of regional parking occupancy equilibrium, solved the model by symmetric duality algorithm and formulated a reasonable parking replacement induction scheme to achieve the goal of occupancy equilibrium. Compared with parking guidance under static pricing, it can avoid the crowding of commuter vehicles into the city center effectively to reduce the congestion of commuter channels.

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