100 research outputs found

    B2B in Asian chemical industry

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    Thesis(Master) --KDI School:Master of Public Policy,2001Maximized profit with minimal input; this is the foremost and eternal goal of business sector in capitalized society. Internet-savvy business people, in 21st century, have sought for the solution of continuous hunger for achieving efficiency in workflow and cost saving in the networked economy. Reducing marketing cost, saving telecommunication expenses, expanding new opportunities to new customers, accomplishing price transparency, and most importantly, controlling the whole process of business flow from production, sales to payment through networking individual companies' back-end system were believed to be finally achieved through a magic tool, internet business. Unlike people's expectation, however, the B2B concept itself is unfamiliar to most of the people and employing this new tool in such a conservative industry as chemical industry is being challenged in many facets. Many start-ups have been sprouted, but couldn't survive long. Most surviving B2Bs are also struggling and continuously being tested about their viability. New business models are continuously emerging without a strong confidence. We will see how this new industry would evolve, whether or not this would be developed as a powerful tool to be able to replace the inefficient offline trading practices after all.I. Introduction 1 II. Overview of Chemical B2B 4 III. Chemical B2B in Asia 14 IV. Strategy for chemical B2Bs in Asia 21 V. Case Study of Asian Chemical B2B: ChemCross.com 23. ConclusionmasterpublishedKang Minji

    Computational Explorations of Information and Mechanism Design in Markets

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    Markets or platforms assemble multiple selfishly-motivated and strategic agents. The outcomes of such agent interactions depend heavily on the rules, regulations, and norms of the platform, as well as the information available to agents. This thesis investigates the design and analysis of mechanisms and information structures through the ``computational lens\u27\u27 in both static and dynamic settings. It both addresses the outcome of single platforms and fills a gap in the study of the dynamics of multiple platform interactions. In static market settings, we are particularly interested in the role of information, because mechanisms are harder to change than the information available to participants. We approach information design through specific examples, i.e., matching markets and auction markets. First, in matching markets, we study the situation where the matching is preceded by a costly interviewing stage in which firms acquire information about the qualities of candidates. We focus on the impact of the signals of quality available prior to the interviewing stage. We show that more ``commonality\u27\u27 in the quality of information can be harmful, yielding fewer matches. Second, in auction markets, we design an information environment for revenue enhancement in a sealed-bid second price auction. Much of the previous literature has focused on signal design in settings where bidders are symmetrically informed, or on the design of optimal mechanisms under fixed information structures. Here, we provide new theoretical insights for complex situations like corporate mergers, where the sender of the signal has the opportunity to communicate in different ways to different receivers. Next, in dynamic markets, we focus on two dimensions: (1) the effects of different market-clearing rules on market outcomes and (2) the dynamics of multiple platform interactions. Considering both dimensions, we investigate two important real-world dynamic markets: kidney exchange and financial markets. Specifically, in kidney exchange, we analyze the performance of different market-clearing algorithms and design a competing-market model to quantify the social welfare loss caused by market competition and exchange fragmentation. Here, we present the first analysis of equilibrium behavior in these dynamic competing matching market systems, from the viewpoints of both agents and markets. To improve the performance of kidney exchange in terms of both social welfare and individual utility, we analyze the benefit of convincing directed donation pairs to participate in paired kidney exchange, measured in terms of long-term graft survival. We provide the first empirical evidence that including compatible pairs dramatically benefits both social welfare and individual outcomes. For financial markets, in the debate over high frequency trading, the frequent call (Call) mechanism has recently received considerable attention as a proposal for replacing the continuous double auction (CDA) mechanisms that currently run most financial markets. We examine agents\u27 profit under CDA and frequent call auctions in a dynamic environment. We design an agent-based model to study the competition between these two market policies and show that CALL markets can drive trade away from CDAs. The results help to inform this very important debate

    Inventory and pricing management in probabilistic selling

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    Context: Probabilistic selling is the strategy that the seller creates an additional probabilistic product using existing products. The exact information is unknown to customers until they receive the probabilistic products. This strategy is still a relatively new area for both researchers and practitioners. Many of the corresponding operations problems need to be solved to take full advantage of the opportunity of this innovative marketing strategy. However, limited attention has been paid to examining the inventory management of probabilistic selling from the perspective of Operations Management, which cannot meet the needs of decision-making in reality. Objectives: Considering different characteristics of the probabilistic product, the buyer, and the seller involved in probabilistic selling, i.e., the probabilistic product form, the buyers’ behaviours of demand switch and barter exchange, and the seller's product allocation behaviour, we establish models and solve the decision problems of pricing, inventory, joint decision of pricing-inventory, and product allocation, etc. Based on the analysis of optimal decisions and strategy comparison results, we shed some lights on the effectiveness of probabilistic selling on managing uncertainty, and its profitability. Method: First, we analyze the practice scenarios of probabilistic selling. Next we mainly use newsvendor inventory model, hotelling model, and optimization theory to model, solve, and analyze the operational problems. Then we give some analytical results. Next we conduct the numerical analysis using softwares of Matlab and Mathematica. Finally, we provide insightful managerial implications for the practice of probabilistic selling. Results: The thesis derives the optimal operational decisions of inventory order, pricing, inventory allocation, and product line design in probabilistic selling. Overall, the analysis of the results show that probabilistic selling can benefit the seller with higher expected profit by reducing demand/supply uncertainty and improving inventory efficiency. The performance of probabilistic selling is closely dependent on customers' price sensitivity, product similarity, and uncertainty level, etc. Main results considering different research scenarios are as follows: 1) When the price for the probabilistic product is independent on demand reshape, a proper cannibalization can benefit the retailer in terms of yielding a higher expected profit. Probabilistic selling is more profitable with relatively lower product similarity and higher price-sensitive customers, while inventory substitution strategy outperforms probabilistic selling with higher product similarity. 2) When the price for the probabilistic product is dependent on demand reshape, probabilistic selling can benefit the seller with higher expected profit and lower inventory. Probabilistic selling is more profitable with lower product differentiation, higher customers' price sensitivity, and higher demand uncertainty. Improper pricing would undermine the seller's profit. 3) When the seller offers physical probabilistic product, he can benefit from two effects, namely the risk pooling effect due to demand reshape and the risk diversification effect due to inventory flexibility. 4) When the seller offers barter choice in probabilistic selling, he may benefit from the marketing effect in the barter process. Offering barter choice can broaden the application range of probabilistic selling, which will increase with successful barter probability. Conclusions/Implications: First, the thesis helps sellers understand how to manage their inventory, pricing and related implementation issues to take full advantage of probabilistic selling. Second, this thesis explores the mechanism of this innovative marketing strategy as an inventory management tool to combat uncertainty which also riches the literature on Operations Management, especially inventory management.Antecedentes: Los productos probabilísticos son productos adicionales creados por un proveedor que combina productos existentes y oculta parte de la información del producto. Es decir, cierta información de atributos de los productos probabilísticos es opaca para el cliente. El cliente que compra el producto probabilístico obtiene una de las combinaciones de productos con una cierta probabilidad. Las ventas probabilísticas son una estrategia de ventas que permite la venta de productos probabilísticos. Todavía es un modelo de ventas relativamente nuevo para empresas e investigadores. La implementación de ventas probabilísticas es diversa y aún no se ha verificado la rentabilidad de las diferentes formas de ventas probabilísticas. Se deben abordar las situaciones de inventario y fijación de precios que tengan en cuenta las diferentes realidades. Por el momento, desde la perspectiva de la gestión operativa, existen pocos estudios sobre la toma de decisiones de inventario y fijación de precios bajo el modelo de ventas probabilísticas, que no puede satisfacer las necesidades de las empresas para tomar decisiones científicas en el proceso de implementación. Objetivo: Este documento se centra en los tres actores principales en el proceso de venta probabilística: los productos probabilísticos, compradores y vendedores. Considere el afecto de las diferentes realidades y circunstancias (en concreto, la forma de productos probabilísticos, la demanda de transferencia y el comportamiento de intercambio del comprador, y si el vendedor reemplaza el producto en el proceso de distribución de los productos) sobre la fijación de precios y las decisiones de inventario. Al establecer un modelo que considera los factores realistas antes mencionados, se resuelve el problema de fijación de precios, la decisión conjunta de inventario- precios y la asignación de productos bajo el modelo probabilístico de ventas. Finalmente, a través del análisis de las decisiones y la comparación de estrategias, se obtendrá sugerencias de gestión para la implementación de ventas probabilísticas. Método: En primer lugar, este documento analiza los escenarios de diferentes ventas de probabilidad. En segundo lugar, utilizando el modelo de vendedor de periódicos, el modelo de Hotelling y la teoría de optimización, se intenta resolver y analizar la fijación de precios, el inventario, la toma de decisiones conjunta de inventario-precios y los problemas de decisión de asignación de productos. Luego, da el teorema y analízalo. Finalmente, proporcione asesoramiento de gestión de inventario- precios para los comerciantes que implementan ventas probabilísticas. Conclusión: Este documento ha encontrado las decisiones operativas óptimas para el inventario, fijación de precios, asignación de inventario y diseño de línea de producto en ventas probabilísticas. Los resultados generales muestran que las ventas probabilísticas pueden aumentar la eficiencia del inventario al reducir la incertidumbre de la demanda / oferta, lo que permite a los vendedores obtener mayores ganancias esperadas. El rendimiento de las ventas probabilísticas está estrechamente relacionado con factores tales como la sensibilidad del precio del cliente, la similitud y la incertidumbre del producto. Significado: Primero, permita que los vendedores hagan un buen uso de las ventas probabilísticas. Este artículo los ayuda a comprender cómo resolver problemas de inventario, precios y decisiones operativas relacionadas en modelos de ventas probabilísticas. Segundo, consideramos esta estrategia de marketing innovadora como una herramienta de gestión de inventario, por lo que este documento enriquece la investigación de gestión operativa, especialmente la teoría de gestión de inventarioPostprint (published version

    The Case for Virtual Property

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    PhDVirtual assets should be treated as a species of property. Users of virtual environments have legitimate expectations about acquiring legal interests in virtual assets as they would in their physical counterparts under similar circumstances. There are two sources of these expectations. Firstly, it is the architecture of virtual environments, the existence of virtual economies, and the property-like characteristics of virtual assets that frame users’ expectations. Secondly, providers’ representations and conduct either explicitly authorise or tolerate virtual asset transactions. As a result, issues of title and ownership arise. The existing legal framework fails to deal properly with these issues. Currently applicable laws, such as contract, intellectual property or consumer protection law, do not recognise users’ expectations as legitimate. However, property law could provide the necessary answers by treating virtual assets as part of the law of property. The theoretical foundations of property law inform us about the origins, justifications and consequences of property rights, as well as their role in allocating valuable resources and resolving social conflict. The concept of virtual property entails property rights in virtual assets, which as durable, separable things of independent value. In consequence, a new category of virtual property would resolve the different and unjustified treatment of virtual assets. Virtual property recognizes and protects users’ legal interest in virtual assets, based on their legitimate expectations

    The Free Press : September 26, 2013

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    Sharing Economy Business Models : Addressing the design-implementation gap

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    Despite sharing being a long-practiced form of consumption, the concept ‘sharing economy’ has emerged only recently. New business models have proliferated, utilising technology to reduce transaction costs and facilitate shared access. Societal actors have taken interest in the sharing economy, to reduce resource consumption, foster social cohesion, and support the economy. However, sharing economy business models facilitate a wide array of consumption practices, including sharing, renting, borrowing, lending, bartering, swapping, trading, exchanging, gifting, buying second-hand, and even buying new goods. Past academic research and media attention tend to focus on unicorns such as Airbnb and Uber. There is greater need to explore the diverse permutations of business models within the sharing economy, especially considering sustainability.However, a gap exists between the design and successful implementation of sharing economy business models. This research aims to advance and structure knowledge about the sharing economy and sustainable business models, by using business modelling methods to study the design and implementation of sharing economy business models. Inspired by design science, this research engages in prescriptive theory-building and design- oriented research to construct and evaluate design artefacts. Incorporating data materials from people, documents, and literature, the research strategies of grounded theory and desk research are utilised to support methods for data collection and data analysis.The research proposes a prescriptive definition of the sharing economy as a socio-economic system that leverages technology to mediate two-sided markets, which facilitate temporary access to goods that are under- utilised, tangible, and rivalrous. From this, four design principles guide the formation of the sharing economy business model framework, which capture three value dimensions, sixteen business model attributes, and eighty- nine configuration options. This research proposes a coherent design theory to support the conceptualisation of sharing economy business models for sustainability.Additional artefacts are developed to support the successful implementation of these business models. First, business model patterns provide the justificatory knowledge to select relevant business model attributes in specific contexts. Then, a systematic framework measures the social impact of sharing platforms across four aspects – trust, empowerment, social justice, and inclusivity. Finally, organisational response strategies to COVID-19 are established in the sharing economy.The primary contribution of this research is conceptual, with additional modest methodological and empirical contributions. Furthermore, the artefacts are intended to be useful for research and practice, including scholars, entrepreneurs, managers, policymakers, investors, users, and concerned citizens

    Peer-to-Peer Bartering: Swapping Amongst Self-interested Agents

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    Large--scale distributed environments can be seen as a conflict between the selfish aims of the participants and the group welfare of the population as a whole. In order to regulate the behavior of the participants it is often necessary to introduce mechanisms that provide incentives and stimulate cooperative behavior in order to mitigate for the resultant potentially undesirable availability outcomes which could arise from individual actions.The history of economics contains a wide variety of incentive patterns for cooperation. In this thesis, we adopt bartering incentive pattern as an attractive foundation for a simple and robust form of exchange to re-allocate resources. While bartering is arguably the world's oldest form of trade, there are still many instances where it surprises us. The success and survivability of the barter mechanisms adds to its attractiveness as a model to study.In this thesis we have derived three relevant scenarios where a bartering approach is applied. Starting from a common model of bartering: - We show the price to be paid for dealing with selfish agents in a bartering environment, as well as the impact on performance parameters such as topology and disclosed information.- We show how agents, by means of bartering, can achieve gains in goods without altruistic agents needing to be present.- We apply a bartering--based approach to a real application, the directory services.The core of this research is the analysis of bartering in the Internet Age. In previous times, usually economies dominated by bartering have suffered from high transaction costs (i.e. the improbability of the wants, needs that cause a transaction occurring at the same time and place). Nowadays, the world has a global system of interconnected computer networks called Internet. This interconnected world has the ability to overcome many challenges of the previous times. This thesis analysis the oldest system of trade within the context of this new paradigm. In this thesis we aim is to show thatbartering has a great potential, but there are many challenges that can affect the realistic application of bartering that should be studied.The purpose of this thesis has been to investigate resource allocation using bartering mechanism, with particular emphasis on applications in largescale distributed systems without the presence of altruistic participants in the environment.Throughout the research presented in this thesis we have contributed evidence that supports the leitmotif that best summarizes our work: investigation interactions amongst selfish, rational, and autonomous agents with incomplete information, each seeking to maximize its expected utility by means of bartering. We concentrate on three scenarios: one theoretical, a case of use, and finally a real application. All of these scenarios are used for evaluating bartering. Each scenario starts from a common origin, but each of them have their own unique features.The final conclusion is that bartering is still relevant in the modern world

    Digital Transformation and Digital Strategy roadmap: the growing importance of CRM.

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    In the globalized we are living. The market is characterized by high competition the only thing companies to customers and gain a competitive advantage is to focus on customers. The aimed this work is to analyse CRM under a strategical and technological point of view. A special focus is given to influence of internet and social media thraugh big data on CRM. At the and a business case is presente

    Global Art Market in the Aftermath of COVID-19

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    Although the global art market has often been resilient to international economic and political events, it has recently faced some of its biggest challenges under the influence of COVID-19. Among others, the pandemic and the accompanying restrictive administrative measures taken by world governments have significantly influenced such key economic indicators as gallery employment, art sales, and the organization of international art fairs. The Special Issue "Global Art Market in the Aftermath of COVID-19" studies various economic, social, and political impacts of the COVID-19 pandemic on the global art market’s current state and future evolution
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