W incorporate the concept of fairness in a conventional dyadic channel to investigate how fairness may affect channel coordination. We show that when channel members are concerned about fairness, the manufacturer can use a simple wholesale price above her marginal cost to coordinate this channel both in terms of achieving the maximum channel profit and in terms of attaining the maximum channel ...

We consider a manufacturer selling to a retailer with private demand information arising dynamically over an infinite time horizon. Under a backlogging model, we show that the manufacturer’s optimal dynamic long-term contract takes a simple form: in the first period, based on her private demand forecast, the retailer selects a wholesale price and pays an associated upfront fee, and, from then o...

This paper details the development and evaluation of AstonTAC, an energy broker that successfully participated in the 2012 Power Trading Agent Competition (Power TAC). AstonTAC buys electrical energy from the wholesale market and sells it in the retail market. The main focus of the paper is on the broker’s bidding strategy in the wholesale market. In particular, it employs Markov Decision Proce...

Analysis of the characteristics of agricultural product price volatility and trend forecasting are necessary to formulate and implement agricultural price control policies. Taking wholesale cabbage prices as an example, a multiple test methodology has been adopted to identify the nonlinearity, fractality, and chaos of the data. The approaches used include the R/S analysis, the BDS test, the pow...

This study estimates demand during the 1980-90 period for wholesale beef cuts by season and by trend. A data set containing monthly nominal prices for wholesale cuts and average choice boxed beef from January 1980 to December 1990 was collected from multiple sources, The approach expressed the change in demand for wholede cuts as the change in the price ratio of individual cuts relative to the ...

considered supply chain in this article consists of one vendor and multiple retailers where the vendor applies vendor managed inventory. considering vendor as a leader and retailers as followers, stackelberg game theory is applied for modeling and analyzing this system. a general mixed integer nonlinear model is developed which can optimizes the performance of the system under revenue sharing c...

We study a supply chain consisting of an upstream supplier who invests in innovation, which increases the value of products to end users, and downstream manufacturers who sell to end users. We analyze the supplier’s optimal innovation decision and show that the supplier’s optimal innovation level is higher with the wholesale price contract than with bilateral bargaining. Moreover, with the whol...

The main elements of electricity price can be divided into three components. These are, wholesale price of energy, price of network services and taxes, each composing approximately third of the final price. It seems that wholesale price is determined quite efficiently, while the price of network services have not been under much interest. However, total welfare can be disturbed significantly, i...

We consider a supply chain with an upstream supplier who invests in innovation and a downstream manufacturer who sells to consumers. We study the impact of supply chain contracts with endogenous upstream innovation, focusing on three different contract scenarios: (i) a wholesale price contract, (ii) a quality-dependent wholesale price contract, and (iii) a revenuesharing contract. We confirm th...