Personalized Pricing and Quality Differentiation on the Internet

No changes were made in the Abstract. Please use the previous Abstract that was submittedVertical Differentiation, Personalization, Price Discrimination, Electronic Commerce,

Warm mix asphalt: Paves way for energy saving

Road transport sector in India has expanded in the last sixty years after independence, both in terms of capacity and dimensions. Today, India is having thethird largest road network in the world, with over 4.236 million km of roadways spread across the country. Currently, majority of the Indian roads are paved with Hot Mix Asphalt (HMA),which consists of aggregates and bitumen mixed together at high temperature,approximately150-170°C. The production and placement of HMA pavements has evolved over the last 130 years and recognised as a high quality engineered paving material to produce good quality pavement. During all these years, the production of HMA has modernized from manual hand mixing and placement with rakes and shovels to computerized plants feeding, placement, and compaction equipment that track location and material quality.The main concern with the production of HMA is, it requires large amount of energy and also releases enormous amount of emissions into the environment. So, the road construction industry is looking for an alternate material or a technology that reduces the amount of energy required to produce the HMA, in order to combine energy savings and environmental benefits. Warm Mix Asphalt (WMA) technology is one of the solutions. WMA technologies allow producing the asphalt material at 30 to 40°C lower temperatures than conventional HMA. This paper presents a comprehensive literature review on various WMA technologies across the globe and advantages associated with WMA technologies.It also provides details of some of the attempts done with WMA technologies in India till now

Properties of Waste Polyethylene Terephthalate (PET) Modified Asphalt Mixes: Dependence on PET Size, PET Content, and Mixing Process

Management and disposal of waste polyethylene terephthalate (PET) bottles is an ever-growing challenge. The present study investigated the effect of incorporation of shredded waste PET bottles on properties of asphalt mixes in terms of: (i) process of PET addition, (ii) PET content, and (iii) PET size. Experimental design included three variables: two processes (dry process, and modified dry process), three PET contents (2.5%, 5.0%, and 7.5% by weight of binder), and two PET sizes (2.36–1.18 mm, and 0.30–0.15 mm). Volumetric properties, Marshall parameters, and moisture susceptibility characteristics of PET modified mixes were evaluated and compared with control mix (without PET). Analysis of variance (ANOVA) was performed to evaluate main and interaction effects of the variables. Results indicated that all the three variables had significant influence on the measured properties. Further, mixes prepared using modified dry process outperformed other mixes and showed highest resistance towards moisture induced damage

Personalized Pricing and Quality Differentiation

We develop an analytical framework to investigate the competitive implications of personalized pricing (PP), whereby firms charge different prices to different consumers, based on their willingness to pay. We embed personalized pricing in a model of vertical product differentiation, and show how it affects firmsâÃÂàchoices over quality. We show that firmsâÃÂàoptimal pricing strategies with PP may be non-monotonic in consumer valuations. When the PP firm has a high quality both firms raise their qualities, relative to the uniform pricing case. Conversely, when the PP firm has low quality, both firms lower their qualities. Although many firms are trying to implement such pricing policies, we find that a higher quality firm can actually be worse off with PP. While it is optimal for the firm adopting PP to increase product differentiation, the non-PP firm seeks to reduce differentiation by moving in closer in the quality space. While PP results in a wider market coverage, it also leads to aggravated price competition between firms. Since this entails a change in equilibrium qualities, the nature of the cost function determines whether firms gain or lose by implementing such PP policies. Despite the threat of first-degree price discrimination, we find that personalized pricing with competing firms can lead to an overall increase in consumer welfare.Information Systems Working Papers Serie

Personalized Pricing and Quality Differentiation

We develop an analytical framework to investigate the competitive implications of personalized pricing (PP), whereby firms charge different prices to different consumers based on their willingness to pay. We embed PP in a model of vertical product differentiation and show how it affects firms’ choices over quality. We show that firms’ optimal pricing strategies with PP may be nonmonotonic in consumer valuations. When the PP firm has high quality, both firms raise their qualities relative to the uniform pricing case. Conversely, when the PP firm has low quality, both firms lower their qualities. Although many firms are trying to implement such pricing policies, we find that a higher-quality firm can actually be worse off with PP. While it is optimal for the firm adopting PP to increase product differentiation, the non-PP firm seeks to reduce differentiation by moving in closer in the quality space. While PP results in a wider market coverage, it also leads to aggravated price competition between firms. Because this entails a change in equilibrium qualities, the nature of the cost function determines whether firms gain or lose by implementing such PP policies. Despite the threat of first-degree price discrimination, we find that PP with competing firms can lead to an overall increase in consumer welfare.NYU, Stern School of Business, IOMS Department, Center for Digital Economy Researc

Management of open fractures of the lower limb during the COVID-19 pandemic: are the standards of treatment being maintained? A study from a major trauma centre in England

Background: Coronavirus disease 2019 (COVID 19) has created an immense strain on the NHS. During the height of the pandemic, trauma services were affected by redeployment, reduced theatre capacity and staff illness, and COVID BOAST guidelines were introduced.Methods: This retrospective study aimed to evaluate the standards of management of open fractures of the lower limb at a Major Trauma Centre in the United Kingdom during the COVID-19 pandemic and compare the same with the pre-pandemic period. Patient demographics, mechanism of injury, timing and mechanism of initial debridement and definitive soft tissue and skeletal fixation were noted. Outcomes including duration of hospital stay, 30 day and 1 year mortality were also assessed.Results: There was an overall 21% reduction in admissions with open lower limb fractures during the pandemic period with a 48% reduction during the first lockdown. There was a significant reduction in time taken from Emergency Department presentation to first debridement as well as a notable increase in operating outside of regular theatre hours. There was little difference in operative technique used for skeletal or soft tissue management at initial and definitive surgery, though fewer cases were performed as a two stage procedure. There was no difference in amputation rate in the two years. Length of stay was reduced from 21 days to 17, and 30 day mortality remained the same.Conclusions: Our study shows this Major Trauma Centre was able to provide a trauma service in accordance to the BOAST4 guidelines despite the increased pressures of the COVID-19 pandemic

Spatial distribution and environmental assessment of heavy metals in the surface sediments of Kongsfjorden, Svalbard

Spatial distribution and environmental assessment of heavy metals of the surface sediment samples collected from the Kongsfjorden system, Svalbard duringsummer months of 2011, 2012 and 2013were studied using grain size, organic carbon and metal concentrations (Mn, Cr, Zn, Co, Cu,Tiand Pb). The Inner fjord was blanketed by clay-rich sediments while clayey silt or silty clay was found in the Outer fjord. High sedimentation rate and the water column turbulence resulted in the poor preservation of the organic matter in the Inner fjord while high concentration of TOC in the Outer fjord sediments indicated high primaryproductivity.Further, in the Outer fjord, the concentration of metals like Mn, Cr, Zn, Co,Cuand Pb were found to be higher near the mouth of the fjord while the lowest concentrations were at its distal end. The Inner fjord was also characterized by a concurrent enrichment of these heavy metals near the glacier outlets with the lowest values occurring near the shallow sill separating it from the Outer fjord. The significant positive correlation of all the heavy metals except Pb in the outer and inner part of the fjord, among themselves and also with Ti corroborated their terrigenous source possibly derived from the rocks present in the catchment area through the glacier melt waters.While, uniform negative correlation exhibited by Pb with all the other elements may point to its source from elsewhere,indicating its source to be anthropogenic

Dynamic Pricing: A Strategic Advantage for Electronic Retailers

We develop an analytical framework to investigate the competitive implications of dynamic pricing technologies (DPT), which enable precise inferring of consumersí valuations for firmsí products and personalized pricing. These technologies enable first-degree price discrimination: firms charge different prices to different consumers, based on their willingness to pay. We first show that, even though the monopolist makes a higher profit with DPT, its optimal quality is the same with or without DPT. Next we show that in a duopoly setting, dynamic pricing adds value only if it is associated with product differentiation. We then consider a model of vertical product differentiation, and show how dynamic pricing on the Internet affects firmsí choices of quality differentiation in a competitive scenario. We find that when the high quality firm adopts DPT both firms raise their quality. Conversely, when the low quality firm adopts DPT, both firms lower their quality. While it is optimal for the firm adopting DPT to increase product differentiation, the non-DPT firm seeks to reduce differentiation by moving closer in the quality space. Our model also points out firmsí optimal pricing strategies with DPT, which may be non-monotonic in consumer valuations. Finally, we show that consumer surplus is highest when both firms adopt DPT. Thus, despite the threat of first-degree price discrimination, dynamic pricing with competing firms can lead to an overall increase in consumer welfare

Evaluation of bio-asphalt binders modified with biochar: a pyrolysis by-product of Mesua ferrea seed cover waste

With growing global concerns related to energy security and sustainability, interest in bio-fuels has increased significantly. Production of biofuel mostly begins with pyrolysis, a process that converts the biomass to liquid biooil, solid biochar and gases. A large amount of carbonaceous biochar is generated as a by-product during the pyrolysis. However, no major effort has been made in the past decade to utilize the biochar in pavement applications, especially as a bio-modifier to asphalt binders. In this study, an attempt was made to evaluate the carbonaceous biochar, obtained during bio-fuel production through pyrolysis of Mesua ferrea seed cover waste, as an asphalt modifier/extender to obtain bio-asphalts. Physical and chemical characterizations of biochar were carried out using scanning electron microscopy, Fourier transform infrared spectroscopy and energy dispersive X-ray analysis. This was followed by rheological characterization of asphalt binders (from two sources) modified with various concentrations of biochar (0, 5, 10, 15, and 20% by weight of binder). Flow behaviour, permanent deformation, and fatigue characteristics of bio-asphalts were evaluated and compared with control binders (no biochar). Aging susceptibility of biochar modified binders was also evaluated and compared for biochar contents and binder sources. Permanent deformation behaviour evaluated through multiple stress creep and recovery (MSCR) test indicated that the use of biochar improved the rutting resistance of binders. Improved binder performance against the effects of aging and deformation with the use of biochar makes it a promising asphalt modifier, especially for the warm tropical climatic conditions prevalent in India

Amorphous Calcium Phosphate and Amorphous Calcium Phosphate Carboxylate: Synthesis and Characterization

The authors acknowledge financial support from the European Union’s Horizon 2020 Research and Innovation Program under grant agreement no. 857287 and Baltic Research Programme Project No. EEA-RESEARCH-85 “Waste-to-resource: eggshells as a source for next generation biomaterials for bone regeneration (EGGSHELL)” under the EEA Grant of Iceland, Liechtenstein and Norway No. EEZ/BPP/VIAA/2021/1. Institute of Solid State Physics, University of Latvia, received funding from the European Union’s Horizon 2020 Framework Programme H2020-WIDESPREAD-01-2016-2017-TeamingPhase2 under grant agreement No. 739508, project CAMART. 2Amorphous calcium phosphate (ACP) is the first solid phase precipitated from a supersaturated calcium phosphate solution. Naturally, ACP is formed during the initial stages of biomineralization and stabilized by an organic compound. Carboxylic groups containing organic compounds are known to regulate the nucleation and crystallization of hydroxyapatite. Therefore, from a biomimetic point of view, the synthesis of carboxylate ions containing ACP (ACPC) is valuable. Usually, ACP is synthesized with fewer steps than ACPC. The precipitation reaction of ACP is rapid and influenced by pH, temperature, precursor concentration, stirring conditions, and reaction time. Due to phosphates triprotic nature, controlling pH in a multistep approach becomes tedious. Here, we developed a new ACP and ACPC synthesis approach and thoroughly characterized the obtained materials. Results from vibration spectroscopy, nuclear magnetic resonance (NMR), X-ray photoelectron spectroscopy (XPS), true density, specific surface area, and ion release studies have shown a difference in the physiochemical properties of the ACP and ACPC. Additionally, the effect of a carboxylic ion type on the physiochemical properties of ACPC was characterized. All of the ACPs and ACPCs were synthesized in sterile conditions, and in vitro analysis was performed using MC-3T3E1 cells, revealing the cytocompatibility of the synthesized ACPs and ACPCs, of which the ACPC synthesized with citrate showed the highest cell viability. © 2023 The Authors. Published by American Chemical Society --//-- https://pubs.acs.org/doi/10.1021/acsomega.3c00796. Published under the CC BY 4.0 licence.EEA Grant of Iceland EEZ/BPP/VIAA/2021/1; Horizon 2020 Framework Programme 857287, EEA-RESEARCH-85; institute of Solid State Physics, University of Latvia, received funding from the European Union’s Horizon 2020 Framework Programme H2020-WIDESPREAD-01-2016-2017-TeamingPhase2 under grant agreement No. 739508, project CAMART.