Why markdown as a pricing modality?

Markdown as a pricing modality is ubiquitous in retail whereas everyday low price (EDLP) remains relatively rare (despite its several advantages, such as simplicity). This paper explores whether and why retailers can use either of these pricing modalities as an effective defense against a competitor entering the market with the alternative pricing modality. Various studies have shown that consumers are strategic and heterogeneous in their valuation of a product. Consumers are also shown to be regret-prone, and anticipation of regret affects their purchase decisions. Consumers experience availability regret when they are unable to purchase products due to stockouts and high-price regret when they miss an opportunity to purchase products at low prices. Considering such factors, consumers decide whether, when, and from which retailer to purchase the product. In such a market environment, we find that the possible entry of a competitor should deter retailers from using the EDLP pricing modality but not markdown. We also identify a new reason for the markdown retailer to ration stock (in addition to the reason for discouraging consumers to wait for the markdown). In particular, we show that the markdown retailer can use inventory rationing to preclude a cutthroat competition and bankruptcy after the entry of an EDLP retailer. We also quantify how consumer regret affects both retailers' decisions and resulting profits. In particular, in a competitive market, the EDLP retailer cannot simply disregard consumers' availability and high-price regret (even when it stocks ample inventory and does not discount prices). We show that high-price regret and availability regret have complementary effects on the markdown retailer's rationing strategy and the EDLP retailer's price decision. Finally, using a proprietary price data set from a large department store, we show that ignoring regret factors causes the markdown retailer to leave up to 20% of its profits on the table. In addition, in a competitive market, the markdown retailer rations too aggressively when regret is ignored and, as a result, leaves some of the forgone profit to its competitor-the EDLP retailer. The retail industry is often characterized by its slim profit margins. In such an environment, the aforementioned results also suggest that retailers should seriously consider investing in developing the capacity to estimate and quantify the role of regret in consumers' purchase decisions

Emotional Dimensions Regarding Job Satisfaction: The Case of Dashboard Design for City Buses

In studies regarding bus drivers’ workstation design, physical and cognitive ergonomics related issues of driving are handled widely. However in order to maintain well-being of bus drivers, emotional issues should also be taken into account. The aim of this paper is to present the emotional dimensions of job satisfaction for urban bus drivers in Turkey, in order to provide design considerations for the public bus dashboard. The paper outlines the findings regarding emotional dimensions and hedonic needs from the product development project of an urban bus dashboard involving several research studies, the aim of which were not specifically to obtain users’ emotional needs. However, as these needs cannot be considered separately from the needs that can be defined as tangible or functional, the outcomes of the prior studies provide important information regarding this issue

Duality Twists on a Group Manifold

We study duality-twisted dimensional reductions on a group manifold G, where the twist is in a group \tilde{G} and examine the conditions for consistency. We find that if the duality twist is introduced through a group element \tilde{g} in \tilde{G}, then the flat \tilde{G}-connection A =\tilde{g}^{-1} d\tilde{g} must have constant components M_n with respect to the basis 1-forms on G, so that the dependence on the internal coordinates cancels out in the lower dimensional theory. This condition can be satisfied if and only if M_n forms a representation of the Lie algebra of G, which then ensures that the lower dimensional gauge algebra closes. We find the form of this gauge algebra and compare it to that arising from flux compactifications on twisted tori. As an example of our construction, we find a new five dimensional gauged, massive supergravity theory by dimensionally reducing the eight dimensional Type II supergravity on a three dimensional unimodular, non-semi-simple, non-abelian group manifold with an SL(3,R) twist.Comment: 22 page

Efficacy of letrozole versus clomiphene citrate for infertile women with polycystic ovary syndrome

Background: The aim was to compare ovulation induction protocols in anovulatory patients, who make up a significant percentage of infertility patients, and to determine the most appropriate treatment for patients in the clinic based on the findings.Methods: The effectiveness of clomiphene citrate (CC) and letrozole (aromatase inhibitor) in ovulation induction treatments were retrospectively compared in patients who applied for infertility in the last 5 years and were found to be anovulatory. 20 of these patients were being treated with clomiphene citrate, while the 18 were being treated with letrozole.Results: The study included a total of 38 anovulatory infertile patients. The mean age of the patients was found to be 29.3. When the endometrial thicknesses (ET) after the treatment were compared, the first group's mean EC was 6.1, while that of the second group was 9.05. The endometrial thicknesses measured after the treatments were found to be significantly different, which were consistent with other studies in the literature. Post-treatment ovulation responses were similar with 55% in both groups. In the evaluation of pregnancy outcomes, 20% of pregnancy was achieved in the first group and 33% in the second group.Conclusions: The use of letrozole, an aromatase inhibitor, may be suggested as an alternative to CC in the ovulation induction protocol in our clinical practice, particularly in obese patients

Rapid earthquake loss updating of spatially distributed systems via sampling-based bayesian inference

Within moments following an earthquake event, observations collected from the affected area can be used to define a picture of expected losses and to provide emergency services with accurate information. A Bayesian Network framework could be used to update the prior loss estimates based on ground-motion prediction equations and fragility curves, considering various field observations (i.e., evidence). While very appealing in theory, Bayesian Networks pose many challenges when applied to real-world infrastructure systems, especially in terms of scalability. The present study explores the applicability of approximate Bayesian inference, based on Monte-Carlo Markov-Chain sampling algorithms, to a real-world network of roads and built areas where expected loss metrics pertain to the accessibility between damaged areas and hospitals in the region. Observations are gathered either from free-field stations (for updating the ground-motion field) or from structure-mounted stations (for the updating of the damage states of infrastructure components). It is found that the proposed Bayesian approach is able to process a system comprising hundreds of components with reasonable accuracy, time and computation cost. Emergency managers may readily use the updated loss distributions to make informed decisions

The effect of using different starter culture combinations on organic and fatty acid compositions of Mihaliç cheese

The objective of this study was to assess the influence of three different starter culture combinations and two scalding temperatures on the organic and fatty acid compositions of pasteurized Mihaliç cheeses. For this purpose, starter culture combinations consisting of Propionibacterium freudenreichii, Streptococcus thermophilus, Lactobacillus helveticus, and Leuconostoc mesenteroides subsp. cremoris were used. Two scalding temperatures, 40 °C or 45 °C, were used for cheeses with the same culture combination. Samples were evaluated in terms of organic and fatty acid compositions during 90 days of ripening. Eye formation, which is a characteristic feature of Mihaliç cheese, was seen in all cheese samples. Propionic and lactic acids were the most abundant organic acids detected in the cheeses. The most abundant saturated fatty acid was palmitic acid, followed by myristic and stearic acids. Oleic acid content was the highest among total unsaturated fatty acids. The control cheese had lower levels of short-chain fatty acids, which contribute directly to the cheese flavour

Ab initio investigation of BCS-type superconductivity in LuNi2 B2 C -type superconductors

Journal ArticleAb initio pseudopotential calculations have been made to calculate the structural, electronic, vibrational, and superconducting properties of the borocarbide superconductors RM2B2C(R=Lu,La,Y;M=Ni,Pd,Pt). Using the electronic and vibrational spectra, the average electron-phonon coupling parameter is calculated to be 0.78, 0.83, 0.96, and 1.48 for LaPt2B2C, LuNi2B2C, YPt2B2C, and YPd2B2C, respectively. From a detailed spectral analysis throughout the irreducible Brillouin zone (IBZ), we found that the highest contribution to the electron-phonon coupling parameter for these materials comes from the acoustic and low-frequency optical modes characterized with anomalous dispersion, instead of the A1g optical-phonon mode claimed in previous studies. Using the calculated electron-phonon coupling parameter values, the superconducting critical temperatures for LaPt2B2C, LuNi2B2C, YPt2B2C, and YPd2B2C are found to be 10.40, 15.94, 11.30, and 20.60 K, respectively, which are in good accordance with their experimental values of 10.50, 16.10, 10.00, and 21.00 K.This work was supported by the Scientific and Technological Research Council of Turkey (TÜBİTAK) (Project No. MFAG-114F192). Some of the calculations for this project were carried out using the computing facilities on the Intel Nehalem (i7) cluster (ceres) in the School of Physics, University of Exeter, United Kingdom

PTPN22 gene polymorphism in Takayasu's arteritis

Objective. Takayasu's arteritis (TA) is a chronic, rare granulomatous panarteritis of unknown aetiology involving mainly the aorta and its major branches. In this study, genetic susceptibility to TA has been investigated by screening the functional single nucleotide polymorphism (SNP) of PTPN22 gene encoding the lymphoid-specific protein tyrosine phosphatase. Methods. Totally, 181 patients with TA and 177 healthy controls are genotyped by PCR-RFLP method for the SNP rs2476601 (A/G) of PTPN22 gene. Polymorphic region was amplified by PCR and digested with Xcm I enzyme. Results. Detected frequencies of heterozygous genotype (AG) were 5.1% (9/177) in control group and 3.8% (7/181) in TA group (P = 0.61, odds ratio: 0.75, 95% CI: 0.3, 2.0). No association with angiographic type, vascular involvement or prognosis of TA was observed either. Conclusion. The distribution of PTPN22 polymorphism did not reveal any association with TA in Turkey. © The Author 2008. Published by Oxford University Press on behalf of the British Society for Rheumatology. All rights reserved