Search results for " pricing"
showing 10 items of 146 documents
Integrating Keyword Advertising and Dynamic Pricing for an Online Market Place
2014
Keyword Advertising is a main marketing instrument for e-commerce companies in order to generate traffic from search engines on their website. The costs for Keyword Advertising are determined in an auction that is conducted for every single search query, which is entered in by a user. In case of an online market place, each adlink provided by the search engine refers to an ordered list of products on the website of the online market place. Hereby, the price of the product is oftentimes one important criteria for the user when deciding for one or the other product from the list. However, existing models assume the price of products to be exogeneous. By taking into account the prices of linke…
In light of the ends. Copyright hysteresis and private copy exception after the British Academy of Songwriters, Composers and Authors (BASCA) and oth…
2015
In British Academy of Songwriters, Composers and Authors (BASCA) and others v Secretary of State for Business, Innovation and Skills, the High Court of Justice in matter of private copy exception provides the twofold prime opportunity to shed light on the state of the art of copyright in the UK and to flesh out the idea of 'legal hysteresis’. I support the reintroduction of the private copy exception, possibly in a less narrow fashion, and I explain the reasons why I am confident that my expectations will be fulfilled.
A proposal for the analysis of price escalation within water tariffs: The impact of the Water Framework Directive in Spain
2017
During the last few decades, numerous international organizations have emphasized the role of pricing policy as a tool to achieve objectives of efficiency, environmental sustainability, and cost-recovery in the management of water resources. Incorporating a certain level of price escalation within water tariffs by adopting increasing block rates is commonly advocated as a key element for controlling water demand and fulfilling these objectives. However, despite its widespread use, there exists no established procedure to measure the levels of price escalation embodied in water tariffs. We propose a measure of price escalation within water tariffs at the level of the water supply management…
Real-time pricing for aggregates energy resources in the Italian energy market
2015
Abstract Over the last decade, the architecture of the energy market has radically changed. In many countries end-users are now able to directly access the market, which has given rise to the question of how they can actively participate in that market. End-users can comprise a critical mass through aggregation that is carried out by a third party – to wit the “loads aggregator.” This paper proposes a new framework for generating feasible real-time price curves for those end-users in a demand-response management process. The underlying algorithm generates output curves as the solution to a constrained optimization problem whose objective function is the aggregator's economic benefit. A case…
Electoral opportunism and water pricing with incomplete transfer of control rights
2020
One of the forms of intervention in public services that lie beyond market forces is price control. While such regulation is justified by the need to achieve social goals, empirical evidence has sh...
John Bates Clark on trusts: New light from the Columbia archives
2005
Public concern over the so called “trust problem” in the United States between the end of the nineteenth century and 1914, the year of the passage of the Clayton and Federal Trade Commission (FTC) Acts, was reflected in the considerable contemporary literature on the subject. Not surprisingly, professional economists actively participated in this debate. Their thinking directly and indirectly influenced the legislation of 1914 in a way that cannot be said of the Sherman Act of 1890 (Mayhew 1998). A survey of the most important of these professional writings shows that, among the several voices animating the discussion, John Bates Clark's was perhaps the most influential. In this connection,…
Learning competitive pricing strategies by multi-agent reinforcement learning
2003
Abstract In electronic marketplaces automated and dynamic pricing is becoming increasingly popular. Agents that perform this task can improve themselves by learning from past observations, possibly using reinforcement learning techniques. Co-learning of several adaptive agents against each other may lead to unforeseen results and increasingly dynamic behavior of the market. In this article we shed some light on price developments arising from a simple price adaptation strategy. Furthermore, we examine several adaptive pricing strategies and their learning behavior in a co-learning scenario with different levels of competition. Q-learning manages to learn best-reply strategies well, but is e…
Valuation of Barrier Options in a Black-Scholes Setup with Jump Risk
1999
This paper discusses the pitfalls in the pricing of barrier options approximations of the underlying continuous processes via discrete lattice models. These problems are studied first in a Black-Scholes model. Improvements result from a trinomial model and a further modified model where price changes occur at the jump times of a Poisson process. After the numerical difficulties have been resolved in the Black-Scholes model, unpredictable discontinuous price movements are incorporated.
American Option Pricing and Exercising with Transaction Costs
2005
In this paper we examine the problem of finding the reservation option prices and corresponding exercise policies of American options in a market with proportional transaction costs using the utility based approach proposed by Davis and Zariphopoulou (1995). We present a model where the option holder has a constant absolute risk aversion. We discuss the numerical algorithm and propose a new characterization of the option holder's value function. We suggest original discretization schemes for computing reservation prices and exercise policies of American options. The discretization schemes are implemented for the cases of American put and call options. We present the study of the optimal tra…
The Investment Performance of U.S. Islamic Mutual Funds
2020
Islamic investment funds have become increasingly important because of high demand from many investors, including those outside the Muslim investment community. This article compares the performance and risk sensitivity of Islamic mutual funds in the United States with that of their conventional peers. This article also analyzes the performance of Islamic funds, and compares this performance with that of socially responsible investment (SRI) mutual funds. Capital Asset Pricing Model (CAPM)-based methodology was used for the analysis. The results suggest that over the entire study period (1987&ndash