scholarly journals Dynamic Sales Price Control Model for Exclusive Exquisite Products within a Time Interval

Processes ◽  
2021 ◽  
Vol 9 (10) ◽  
pp. 1717
Author(s):  
Po-Yu Chen
Keyword(s):  
Information Diffusion ◽  
Demand Function ◽  
Control Model ◽  
Price Control ◽  
Market Demand ◽  
Price Information ◽  
Sales Price ◽  
Transaction Prices ◽  
Transaction Price ◽  
Time Point

When information regarding the effective evaluation of the value of exquisite products is lacking, the market demand function for such products at a given time point is affected by the diffusion of historical transaction price information before the time point. This is because historical transaction prices play an active role in influencing the internal reference price (IRP) of customers, and the continuous diffusion of historical transaction price information leads to the continuous correction, adjustment, and updating of customers’ IRPs. Given the varying rates of such information diffusion, the speed at which customers adjust their IRPs also varies across individuals and contexts. By considering the exponential distribution of potential customers’ IRPs as an example to establish the dynamic demand function that considers the effect of historical transaction prices, this paper discusses the effect of different information diffusion rates on the demand function at a time point. On the basis of this demand function, a sales price control model that maximizes the discounted profitability for businesses in the patent term of an exquisite product is then constructed to provide businesses with an operation method to cultivate prices and increase profits.

scholarly journals LEARNING TO PLAY BEST RESPONSE IN DUOPOLY GAMES

2004 ◽  
Vol 06 (03) ◽  
pp. 443-459 ◽  
Author(s):  
JAN WENZELBURGER
Keyword(s):  
Demand Function ◽  
Optimal Strategies ◽  
Market Demand ◽  
Response Behavior ◽  
Estimation Errors ◽  
Demand Functions ◽  
Best Response ◽  
Game Theoretic ◽  
Payoff Functions ◽  
Duopoly Market

We consider a quantity-setting duopoly market where firms lack perfect knowledge of the market demand function. They use estimated and therefore misspecified demand functions instead and determine their optimal strategies from the corresponding subjective payoff functions. The central issue of this paper is the question under which conditions a firm can learn the true demand function as well as the response behavior of its competitor from repeated estimations of historical market data. As soon as estimation errors are negligible, a firm is able to play best response in the usual game theoretic sense.

The Optimal Price Control Model of Food Sales in a Given Period

2013 ◽  
Vol 34 (6) ◽  
pp. 361-371
Author(s):  
Po-Yu Chen ◽  
Miao-Sheng Chen ◽  
I-Chun Chen
Keyword(s):  
Control Model ◽  
Price Control ◽  
Optimal Price ◽  
Food Sales

scholarly journals The Influence of Public Facilities on the Transaction Price of Multi-Family Residential in Xitun District

2020 ◽  
pp. 1-11
Author(s):  
Ho-Wen Yang ◽  
Hsien-Chi Hsieh
Keyword(s):  
Residential Buildings ◽  
Hierarchical Linear Model ◽  
Group Level ◽  
Individual Level ◽  
Explanatory Variables ◽  
Public Facilities ◽  
Transaction Prices ◽  
Taichung City ◽  
Public Area ◽  
Transaction Price

The ratio of public area in Taiwan's multi-family residential is gradually increasing, and the items of public facilities are becoming more and more diversified. Most researches only classify them, however, it is rarely discussed how the connotation and diversity of public facilities affect residential transaction prices? This study intends to classify the public facilities in 22 multi-families residential near the Zhongke Shopping Plaza in Xitun District, Taichung City and give them diversity scores. The study uses hierarchical linear model for analysis, residential price as the dependent variable, diversity of public facilities scores as the independent variable of group-level, and public area, private area, age and floor as independent variables of individual-level. The empirical results found that floor, public area, and private area have positive and significant influence on residential transaction prices; when controlling the influence of individual-level explanatory variables on residential transaction prices, the diversity of public facilities at the group-level has a positive effect on the average residential transaction price of residential buildings.

scholarly journals Principles of the Proposed Czech Postal Sector Price Control Model

1970 ◽  
Vol 21 (1) ◽  
pp. 33-40
Author(s):  
Libor Švadlenka ◽  
Aleksander Chlan
Keyword(s):  
Control System ◽  
Control Theory ◽  
Control Model ◽  
Price Control ◽  
Current Control ◽  
Price Cap ◽  
Quantitative Expression ◽  
The Past ◽  
Postal Sector

The paper deals with the postal sector control. It resultsfrom the control theory and proves the justifiability of control inthe postal sector. Within the price control it results from E U Directive97!67/EC requirements on this control and states individualtypes of price control focusing on ineffective price controlcurrently used in the Czech postal sector (especially withindomestic services) and proposes a more effective method ofprice control. The paper also discusses the principles of the proposedmethod of price control of the Czech postal sector. It describesconcrete fulfilment of the price control model resultingfrom the price-cap and tariff formula RP I-X and concentrateson its quantitative expression. The application of the proposedmodel is carried out for a hypothetical period in the past (in orderto compare it with the current control system) for letteritems tariff basket.

Effects of Economy and FDA Intervention on the Hearing Aid Industry

2005 ◽  
Vol 14 (1) ◽  
pp. 71-79 ◽  
Author(s):  
Amyn M. Amlani ◽  
Dakshina G. De Silva
Keyword(s):  
Hearing Aids ◽  
Media Coverage ◽  
Demand Function ◽  
Hearing Aid ◽  
Media Campaign ◽  
Market Demand ◽  
Demand Side ◽  
Least Squares Regression ◽  
End User ◽  
Demand And Supply

Purpose: The purpose of this study was to examine the effects of the economy and the Food and Drug Administration’s (FDA) intervention on the hearing aid industry. Method: A 3-stage least squares regression technique was used to analyze the hearing aid market. Results: Our results show that, while recessionary periods reduced both demand and supply, the demand side of the hearing aid industry is significantly more responsive to changes in the economy. Further, the demand function within the hearing aid industry is inelastic. Finally, negative media coverage from nationally televised reports during the FDA’s intervention between the 2nd quarter of 1993 and the 3rd quarter of 1994 did not significantly affect the market demand of hearing aids. Conclusions: The demand for hearing aids increases in a flourishing economy and decreases during periods of recession. The negative media campaign from the FDA’s intervention between the 2nd quarter of 1993 and the 3rd quarter of 1994 had essentially little effect on the end user. The repercussions of the FDA’s intervention have resulted, however, in a reduction in the market supply of hearing aids and an increase in their cost due to manufacturer-sponsored clinical trials.

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