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Article
Publication date: 1 April 2005

Ana Paula Martins

Aims to analyse the labour market outcome when there are two unions in the industry, representing heterogeneous workers – imperfect substitutes in production.

640

Abstract

Purpose

Aims to analyse the labour market outcome when there are two unions in the industry, representing heterogeneous workers – imperfect substitutes in production.

Design/methodology/approach

Competition between union policies are viewed in terms of both employment and wage strategies. Results for substitutes and complements are inspected. Attention is given to the strategic behaviour of the unions, towards one another and/or the employer side. Cooperation is modelled using the Nash‐maximand approach.

Findings

Gathers some notes and enlargements to the standard collective bargaining problem in which unions maximise utility. Extends the framework to model union competition behaviour for jobs and/or employment that reproduces the standard market product analysis of imperfect competition. Focuses on heterogeneous labour.

Research limitations/implications

The analysis concentrates on the case of union duopoly, but can easily be enlarged to the n‐union setting – which is left for further investigation.

Originality/value

A simple analytical example with Stone‐Geary union utility functions and a linear labour demand system is forwarded.

Details

International Journal of Social Economics, vol. 32 no. 4
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 13 March 2018

Rofin T.M. and Biswajit Mahanty

The purpose of this paper is to investigate the impact of price adjustment speed on the stability of Bertrand–Nash equilibrium in the context of a dual-channel supply chain…

300

Abstract

Purpose

The purpose of this paper is to investigate the impact of price adjustment speed on the stability of Bertrand–Nash equilibrium in the context of a dual-channel supply chain competition.

Design/methodology/approach

The paper considers a dual-channel supply chain comprising a manufacturer, a traditional retailer and an online retailer. A two-dimensional discrete dynamical system is used to examine the Bertrand competition between the retailers. The retailers are assumed to follow bounded rational expectations. Local stability of Bertrand–Nash equilibrium is investigated with respect to the price adjustment speed.

Findings

As the price adjustment speed increases, the stability of Bertrand–Nash equilibrium is lost, leading to complex chaotic dynamics. The results showed that chaotic dynamics deteriorates the profit of the retailers. The authors also found that the chaos can be controlled using an adaptive adjustment mechanism and the retailers enjoy higher profit when the chaos is controlled.

Practical implications

This study helps retail managers to choose an appropriate price adjustment speed to maximize profit.

Originality/value

The heterogeneity of the retailers is not considered in the studies involving dynamics of retailer competition. This paper contributes to the literature by considering the operational difference between a traditional retailer and an online retailer, i.e. price adjustment speed. In addition, the study establishes a link between price adjustment speed and profit.

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Article
Publication date: 26 August 2014

Jay L. Shaw

The purpose of this paper is to compare Swami Vivekananda’s conception and development of human being with those of Bertrand Russell. The author also discusses Vivekananda’s…

130

Abstract

Purpose

The purpose of this paper is to compare Swami Vivekananda’s conception and development of human being with those of Bertrand Russell. The author also discusses Vivekananda’s conception of the human being in more detail and his methods for the development of human nature so that one can attain the ultimate goal of life.

Design/methodology/approach

Vivekananda’s view of human development is not to be equated with richness of material possession or with knowledge about the empirical world, which are sometimes necessary for the successful performance of virtuous actions. Vivekananda has instead emphasized the apprehension of truths, not only for our intellects but also for our hearts.

Findings

The oneness of Advaita Vedanta can, according to Vivekananda, be realized in our life in this world.

Originality/value

Vivekananda has shown not only how to apply the Advaita Vedanta in our life for our development but also how to achieve the ultimate goal of life, which is freedom from all types of suffering, and harmony in life.

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Article
Publication date: 17 August 2012

Rong Hu and Hong‐shan Xia

The purpose of this paper is to investigate the chaotic dynamics behaviours and chaos control of differentiated Bertrand model.

167

Abstract

Purpose

The purpose of this paper is to investigate the chaotic dynamics behaviours and chaos control of differentiated Bertrand model.

Design/methodology/approach

The paper analyzes a nonlinear differentiated Bertrand duopoly game by using the theory of bifurcations of dynamical system, where players have heterogeneous expectations and nonlinear cost function: two types of players are considered – bounded rational and naive expectation. The equilibrium point and local stability of the duopoly game are investigated.

Findings

The paper demonstrates that as some parameters of the game are varied, the stability of Nash equilibrium is lost through period doubling bifurcation. The chaotic features are justified numerically via computing Lyapunov exponents, and sensitive dependence on initial conditions. By using the delay feedback control method, the authors have made the system form chaotic state to stable state.

Originality/value

This paper fulfils an identified need to study the diversity of expectations and how to lead to rich dynamics and complexity.

Details

Grey Systems: Theory and Application, vol. 2 no. 2
Type: Research Article
ISSN: 2043-9377

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Article
Publication date: 1 October 1997

Henk Akkermans and Will Bertrand

Quantitative modelling seems admirably suited to help managers in their strategic decision making on operations management issues, but in practice models are rarely used for this…

2407

Abstract

Quantitative modelling seems admirably suited to help managers in their strategic decision making on operations management issues, but in practice models are rarely used for this purpose. Investigates the reasons why, based on a detailed cross‐case analysis of six cases of modelling‐supported strategic decision making. In several of these cases, effective strategic decision making was achieved despite unfavourable technical contingencies, such as a lack of quantitative data, or low tangibility of the issue at stake. This suggests that such technical conditions cannot be crucial for effective model‐based support. However, no case was found where good overall results were achieved under adverse organizational conditions, such as low quality of communication between stakeholders during the modelling/decision‐making process and low ownership with these stakeholders for the resulting model and its implications. This suggests that such organizational contingencies are indeed crucial for effective model‐based support. The modelling method described achieved good communication and ownership by operating in a process‐oriented consulting mode, where client participation in group model‐building sessions played a central role.

Details

International Journal of Operations & Production Management, vol. 17 no. 10
Type: Research Article
ISSN: 0144-3577

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Article
Publication date: 1 February 2002

J. Will M. Bertrand and Jan C. Fransoo

Gives an overview of quantitative model‐based research in operations management, focusing on research methodology. Distinguishes between empirical and axiomatic research, and…

38820

Abstract

Gives an overview of quantitative model‐based research in operations management, focusing on research methodology. Distinguishes between empirical and axiomatic research, and furthermore between descriptive and normative research. Presents guidelines for doing quantitative model‐based research in operations management. In constructing arguments, builds on learnings from operations research and operations management research from the past decades and on research from a selected number of other academic disciplines. Concludes that the methodology of quantitative model‐driven empirical research offers a great opportunity for operations management researchers to further advance theory.

Details

International Journal of Operations & Production Management, vol. 22 no. 2
Type: Research Article
ISSN: 0144-3577

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Article
Publication date: 7 October 2014

Arghya Kusum Mukherjee

The purpose of this paper is to see whether Government of India is successful to make credit accessible to the poor; to examine the role of competition in microfinance sector in…

1451

Abstract

Purpose

The purpose of this paper is to see whether Government of India is successful to make credit accessible to the poor; to examine the role of competition in microfinance sector in ensuring credit to the ultra poor borrowers; to see the role of subsidy in microfinance movement.

Design/methodology/approach

The paper is based on secondary data. This paper examines, in an analytical framework with a variety of assumptions, the role of microfinance institutes (MFIs) in bringing capital to the ultra poor.

Findings

In an attempt to make credit accessible to the poor, Government of India took several measures, but did not succeed to a significant extent. This paper has shown that the microcredit has become accessible to the “working poor,” but not to the ultra poor. Initially the model shows that in the absence of competition MFI and moneylender are equally exploitative to the ultra poor borrowers. The model further shows that in the presence or absence of competition in the credit market, credit may be accessible to the ultra poor borrowers under certain conditions. Excessive subsidies might drive out the poor borrowers from the microfinance sector.

Originality/value

For the poor clients served by the microfinance institution, the argument goes, the access not the cost (interest rate) that matters (Robinson, 2001). Here the implicit assumption is that the interest rate elasticity of demand for micro credit is close to zero (Emran et al., 2006). In an interesting paper Deheja et al. (2005) has shown that the interest rate elasticity of loan in the microfinance system is significantly negative. The author is of the opinion that this is the cost of credit as well as inability to pay a minimum price of credit, which denies the access to credit.

Details

International Journal of Social Economics, vol. 41 no. 10
Type: Research Article
ISSN: 0306-8293

Keywords

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Article
Publication date: 1 April 1997

Paul P.M. Stoop and J. Will M. Bertrand

In complex, job‐shop‐like production departments it is usually very difficult to predict the near‐future logistic performance as well as to explain or diagnose objectively why and…

3480

Abstract

In complex, job‐shop‐like production departments it is usually very difficult to predict the near‐future logistic performance as well as to explain or diagnose objectively why and how a certain performance has been achieved. Presents a prediction and diagnosis method that has been developed and tested in two production departments. Describes how the method provides realistic logistic performance targets in the short term with respect to the throughput of a production department and order completion times. The method also quantitatively determines ex post the impact of occurred disturbances on the realized performance. In the pilot project the method provided a clearer insight into relationships between logistic key variables, gave decision support to the capacity allocation decision, and generated reliable performance targets for the short term. More importantly, the actual performance became more open to discussion due to the objective explanation of the achieved performance, which opens the way to performance improvements.

Details

Integrated Manufacturing Systems, vol. 8 no. 2
Type: Research Article
ISSN: 0957-6061

Keywords

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Article
Publication date: 3 October 2016

João Tovar Jalles

There has been an increased interest in the role of the financial sector and institutional quality in the development process.

554

Abstract

Purpose

There has been an increased interest in the role of the financial sector and institutional quality in the development process.

Design/methodology/approach

This paper addresses the relationship between corruption and financial sector development by constructing a Schumpeterian endogenous growth model, allowing for the entry of competitive firms with an explicit role for politics and banking.

Findings

Assuming that technologically advanced firms are located in developed countries and backward firms in developing countries, the model in this study suggests that low corruption are more growth enhancing in the former group of countries. Better institutions stimulate entry by reducing banking screening costs and entry is more growth enhancing in sectors closer to the technological frontier.

Research limitations/implications

The model in this study is a partial equilibrium analysis and one should include a role for labour markets to address the household’s problem and enrich the model’s conclusions. Secondly, the model specification rests on the fact that the degree of corruption is correlated with the level of institutions. Even though this might be subject to some criticism, this is a common practice across the literature and so, it is clearly a matter of taste.

Practical implications

The main policy conclusion is that anti-corruption policy initiatives should prioritize corruption that distorts incentives with respect to productive investment that directly and negatively affects growth.

Originality/value

This paper addresses the relationship between corruption and financial sector development by constructing a Schumpeterian endogenous growth model, allowing for the entry of competitive firms with an explicit role for politics and banking.

Details

Studies in Economics and Finance, vol. 33 no. 4
Type: Research Article
ISSN: 1086-7376

Keywords

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Book part
Publication date: 5 June 1996

Steve McCorriston and Ian M. Sheldon

Abstract

Details

Agricultural Markets
Type: Book
ISBN: 978-0-44482-481-3

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