TECHNICAL NOTE A MODIFIED EOQ MODEL WITH TEMPORARY SALE PRICE DERIVED WITHOUT DERIVATIVES

Most previous works applied differential calculus to derive optimal solutions for economic ordering policy. The formulations are suggested in this short note to show that optimal solutions can be derived algebraically without using differential calculus to treat the EOQ model with a temporary sale price.     

Implementation of Four Models for Outstanding Liabilities in Winbugs: A Discussion of a Paper by Ntzoufras and Dellaportas

Abstract

Ntzoufras and Dellaportas (2002) described four models for outstanding claim amounts of the “reported but not settled” variety. Two of the models incorporated claim-counts data in addition to the claim amounts themselves in order to add a hierarchical stage in the usual log-normal and state-space models. The purpose of this discussion is to describe how the models presented in Ntzoufras and Dellaportas may be implemented using WinBUGS. The use of WinBUGS to implement the Bayesian analysis of a number of other actuarial models was considered by Scollnik (2001).     

A Note on Laurence Seidman’s Article

Mihail Manoilescu was among the foremost intellectual figures of the interwar period in Romania. He was known as a politician and central banker, as well as an economist. From the very beginning of his theoretical and practical career, or at least from the late 1920s onward, Manoilescu’s ideas and theories (especially his corporatist theory) were marked by clear continuity and consistency based on the theory of protectionism grounded on productivity differences. By developing his model — an alternative to the theory of comparative advantage — Manoilescu endeavored to show the need for protectionist measures to promote the development of peripheral countries. His defense of protectionism is usually presented as clumsy and founded on an incorrect method, even if he is often recognized as the forerunner of the theory of unequal exchange and the dependency theory. Few scholars note the similarity of Manoilescu’s theory with Karl Marx’s labor theory. This paper contributes to validating Manoilescu’s conclusions, the soundness of which we test here by reconstructing the theory from a Marxian perspective. A reconstruction of this type offers new possibilities of evaluating his theory and a better understanding of its contributions and limitations.     

The Effects of Average Norm Model Regulation: The Case of Electricity Distribution in Sweden

Following the reform of energy sectors, some countries have used engineering norm models in incentive regulation of network utilities. In 2003, Sweden adopted this approach to regulation of electricity distribution networks. This paper examines whether the norm models represent the real networks and create incentives for performance improvement. We analyse data from 138 network concession holders between 2000 and 2007. The results show that norm models are not adequate representations of real networks. Also, utilities that perform better than their norm models tend to behave opportunistically. Finally, we find that private utilities respond more strongly to incentives.     

CSR Policies: Effects on Labour Productivity in Spanish Micro and Small Manufacturing Companies

Journal of Business Ethics - This paper analyses empirical evidence of efforts to enable Spanish micro and small manufacturing companies to boost their labour productivity rates through the...     

Consuming Alone: Broadening Putnam's “Bowling Alone” Thesis

Despite the popularity of Wi‐Fi technologies and social networks, many residents in developed nations are more socially isolated now than a few decades ago. Applying fuzzy‐set qualitative comparative analysis, using a nationally representative sample in one developed nation this study investigates the relationship between social isolation and advice‐giving and advice‐seeking behaviors with regard to brands or products. This study raises the proposition that people who are socially isolated lack the opportunity to give and seek advice, and, thus, abstain from doing so. Additionally, the study proposes that lacking ability or motivation also represent causal conditions for isolation. The study also investigates consumer behavior outcomes of low advice‐giving and advice‐seeking behaviors; that is, pampering and status buying. The findings from an analysis of an omnibus annual survey of residents in one nation support the propositions that the study proposes from theory and are likely relevant for residents of most developed nations.     

Why are African commodity exchanges languishing? A case study of the Zambian Agricultural Commodity Exchange

Food price volatility and high transactions costs remain major problems in African food markets. These persistent problems provide a strong theoretical justification for the development of commodity exchanges. However, the majority of African commodity exchanges remain underdeveloped. Through a case study of the Zambian Agricultural Commodity Exchange (ZAMACE), this article explores why agricultural commodity exchanges in the region have thus far failed to develop into sustainable trading platforms and identifies the most important changes needed to enhance their performance.