When bidders are not substitutes, we show that there is no standard ascending auction that implements a bidder-optimal competitive equilibrium under truthful bidding. Such an impossibility holds also in environments where the Vickrey payoff vector is a competitive equilibrium payoff and is thus stronger than de Vries, Schummer and Vohra’s [On ascending Vickrey auctions for heterogeneous objects...

The main purpose of this study is to investigate the periodic inventory model with backorder price discounts, where shortages are partially backlogged. The application of just-in-time (JIT) philosophy i.e., crashing of the lead-time and setup cost has been carried component wise. Two cases have been discussed viz 1 protection interval demand distribution is known (normal distribution approach) ...

This paper presents a dynamic model for light motor vehicles. Consumers solve an optimal stopping problem in deciding if they want a new automobile and when in the model year to purchase it. This dynamic approach allows for determining how the mix of consumers evolves over the model year and for measuring consumers’ substitution patterns across products and time. I find that temporal substituti...

This paper aims to examine the effect of price discounts on store image and eventually consumers’ purchase intention in online shopping context of cell-phones. For this purpose, two cell-phone brands; i.e., Nokia and HTC were selected to study among 248 professors, employees and university students from University of Tabriz, Iran during April-June 2012. Required data was collected through quest...

For more permission information, see page 2. Materials managers are almost evenly divided on how protective apparel prices will change in the coming year. Depending on the contracts they are using, they foresee prices staying level or dropping by as much as 10%. None believes they will rise. Most respondents to this month’s HMM price survey reported prices were unchanged overall last year, desp...

We investigate the pricing discount for limited liquidity. Unlike previous studies that have examined the relation between historical returns and liquidity, ours looks directly at current stock prices. This approach requires less data and yields up-todate information about limited liquidity discounts. We analyze data from the Swiss exchange and the Nasdaq during 1995–2001, and find a statistica...

This paper argues that life satisfaction data can be used to value natural disasters. We discuss the strengths of this approach, compare it to traditional methods and apply it to estimate and monetize utility losses caused by floods in 17 OECD countries between 1973 and 2004. Using combined cross-section and time-series data, we find a negative impact of floods on life satisfaction that is size...

With the rapid growth of social media platforms, numerous group commerce websites, which exploit both the advantages of price discounts and experience value, have emerged. Moreover, the popularity of sophisticated mobile devices brings great commercial opportunities for local store to gain publicity. In this research, considering user preference, geographic convenience, and friends’ influence, ...

The rise of mega-retailers and industry concentration levels has recently generated an interest among economists and antitrust policymakers in the effects of buyer countervailing power. There exists a considerable theoretical literature offering a range of sources of powerful buyers’ ability to extract price discounts. The explanations that have been tested experimentally have all found laborat...

A simple characterization of the equilibrium conditions required to compute Vickrey payments in the Combinatorial Allocation Problem leads to an ascending price Generalized Vickrey Auction. The ascending auction, iBundle Extend & Adjust (iBEA), maintains non-linear and perhaps non-anonymous prices on bundles of items, and terminates with the efficient allocation and the Vickrey payments in ex p...