Search

The work is devoted to the modeling of the behavior of the tourism market in the conditions of a supply random lag, distributed according to normal and uniform distribution laws. The behavior of dependences on the tourist market of supply and demand on the price is considered. The modeling of the behavior of the tourism market was carried out using a market dynamic model in the plane of variables "supply – price – demand" taking into account the interests of different groups of consumers, primarily from the point of view of pricing. The delay between changes in supply and demand volumes is taken into account using a Cobweb model. To test this method, information was collected on family expenses when traveling abroad (outbound tourism, tourist vacations lasting 7-15 days) by surveying the employees of 38 travel organizations as of 2021. Three segments of the tourism market are identified: low ($2000 − 4000), medium ($4000 − 12000), and VIP-segment ($12,000 − 20,000). The analysis of the modeling results showed that the behavior of tourists of different segments can significantly influence the market dynamics. The use of a Cobweb model allowed for determining the level of stability of tourist behavior and assessing the possibility of consumer migration from one segment to another. Sensitivity to price changes and response to new offers from different segments can be different, which is important for determining pricing strategies, marketing, and the development of new tourism products. [ABSTRACT FROM AUTHOR]

We prove that supply correspondences are characterized by two properties: the law of supply and being homogeneous of degree zero. [ABSTRACT FROM AUTHOR]

To characterize any standard market, generally, we need a model consisting of at least two equations, one of which describes the pattern of demand for the relevant goods or resources, and the other the pattern of supply. In the simplest case, when all the factors, except price, affecting demand and supply are fixed, and the market is standard, we have the following version of the model:, where and functions of demand and supply depend on price. When the specific type of these functions is known, it is easy to determine the equilibrium point of the market (if it exists) using the following equation:. As a rule, in most cases, specific types of and functions are unknown, and we have to resort to econometric modeling to estimate them. To accomplish this, we must 1) transform the above-mentioned system into a model comprising of regression equations and 2) obtain, data for the variables, and included in the model. The first requirement, transformation into a regression system, is easy to accomplish by including the random error terms, and, with the expected value equal to zero, into the corresponding equations:. The second requirement--obtaining the observation data for, and variables--is much harder to fulfill. The difficulty is that in market model analysis, the separate and values of supply and demand are rarely available, except when research is specifically done to examine market subjects. As a rule, the existing statistical system gives information on price values together with the variable--the volume of actual sales, but not what the demand, and the supply were under different price conditions. In such cases, if no additional information is available, the demand and supply functions of the market model are considered unidentifiable. The widely used standard approach to solving this problem involves changing the specification of the model by including additional explanatory variables in the equations and making an assumption that observed values, together with their respective prices, correspond to the point of market equilibrium, i.e., we have the following equations:. This article proposes a different method to estimate the market model consisting of regression equations. It takes into account the specifics of the market mechanism and makes it possible to fully or partially identify the functions of supply and demand, even when the only data available is on the price and the volume of sales. Unlike the traditional approach, the proposed method is based on the assumption that not every pair of price and sales volume included in the data sample, corresponds to the point of market equilibrium. The estimation of equations of this model involves a two-step process. First, using the sample of data on price and sales volume, the sales line is estimated, and the point of its maximum, which corresponds to the point of market equilibrium, is defined. Then, given the location of the equilibrium point, using a particular technique, subsamples that define demand and supply are identified from the total sample, and their respective equations are constructed. The article demonstrates how to apply this method, using the Georgian labor market as an example. The employment line equation estimated using quarterly data on real wages and employment in 2010-2021 showed that the labor market in Georgia was in equilibrium in the third quarter of 2013. On the basis of this information, we used data from the first quarter of 2010 through the third quarter of 2013 to estimate the labor supply function, and the rest of the data was applied to estimate the labor demand function. Based on these estimates, a 100 GEL increase in real wages in Georgia during the analyzed period caused a 5.2% increase in labor supply and a 5.6% decrease in demand for labor. [ABSTRACT FROM AUTHOR]

Procurement Auctions with Capacity Reservation It frequently happens that a supplier needs to invest in building capacity prior to supplying a product. Then the buyer will need to reserve capacity from suppliers and pay for this in advance of knowing the final demand. "Capacity Games with Supply Function Competition" by Edward Anderson, Bo Chen, and Lusheng Shao studies a very general version of this problem, in which both capacity and production costs are volume dependent. They explore how an auction will operate in this setting and allow supply function bids from suppliers. They apply this framework to a newsvendor problem with unreliable suppliers, a portfolio procurement setting with supply options and a spot market, and a bundling problem with nonsubstitutable products. This helps to understand when we may expect the buyer to make a reservation choice that maximizes the overall supply chain profit. The key to these results is to show that the supply chain optimal profit is submodular in the set of suppliers. We introduce a general model for suppliers competing for a buyer's procurement business. The buyer faces uncertain demand, and there is a requirement to reserve capacity in advance of knowing the demand. Each supplier has costs that are two-dimensional, with some capacity costs incurred prior to production and some production costs incurred at the time of delivery. These costs are general functions of quantity, and this naturally leads us to a supply function competition framework in which each supplier offers a schedule of prices and quantities. We show that there is an equilibrium of a particular form: the buyer makes a reservation choice that maximizes the overall supply chain profit, each supplier makes a profit equal to their marginal contribution to the supply chain, and the buyer takes the remaining profit. This is a natural equilibrium for the suppliers to coordinate on, since no supplier can do better in any other equilibrium. These results make use of a submodularity property for the supply chain optimal profits as a function of the suppliers available and build on the assumption that the buyer breaks a tie in favor of the solutions that give the largest supply chain profit. We demonstrate the applications of our model in three operations management problems: a newsvendor problem with unreliable suppliers, a portfolio procurement problem with supply options and a spot market, and a bundling problem with nonsubstitutable products. [ABSTRACT FROM AUTHOR]

Despite the seriousness individual attempts made by some breeders to develop and improve methods of breeding and fattening to reduce costs, but most breeders follow the traditional methods of breeding and fattening their livestock, and this is what prompted me to do this study, A questionnaire for a sample of (100) breeders in Mahmoudia district (case study) for the year 2021, the study aimed to derive the cost function in long-run from the output of Cobb-Douglas production function, as well as deriving the supply function from the cost function in long-run derived from the Cobb-Douglas production function, and derivation the supply function From the production function estimated for Calves fattening projects, in addition to deriving the two demand functions for labor and capital Resources which use in the production process of Calves fattening projects, The cost function in long-run was estimated, and the results of the study showed that the demand for labor and capital in Calves fattening projects was up to (160.7) man /day for labor and (12,776.874) thousand dinars for capital. The displayed quantity of production is about (4040.77) kg, the study recommends the necessity of providing feed, especially concentrated feed, in the necessary quantities and qualities during different seasons by providing hybrid fodder crops such as fodder corn to obtain the desired weight gain.

Meat is an important source of protein for human body. Research aims to study the effect of prices and costs on production and local supply of red meat in Iraq. The estimated supply function for period (1985-2019) using standard analytical method. Problem statement is lack of interest in local livestock projects due to the conditions that the country has experienced. Most of the local projects have stopped and the local supply is insufficient to meet the increasing demand for that commodity, forcing it to import from abroad and the high prices and costs of red meat. Results for estimated supply function of red meat for independents that were well represented. An increase in the price causes a direct increase in the quantity supplied, but the increase in price is greater than the increase in quantity. For costs, the relationship was inverse, that is, the higher costs, lower the amount of supply. When prices of requirements for red meat production increase, this leads to an increase costs, so producers reduce amount of supply of commodity, but in small, or they raise the prices of the product to cover additional costs. Recommends need to use modern technologies in production and continuous support and provision of production requirements in order to increase local production and reduce dependence on importing foreign meat. Also, developing legal procedures to reduce smuggling and finally pay attention to the research aspect that contributes to development of livestock. [ABSTRACT FROM AUTHOR]

The corn crop is one of the main crops in Iraq and is of great importance in terms of food and industry, as it is used in the manufacture of corn flakes, starch, oil, etc., and is used as animal feed. The research aimed to estimate the supply function of the maize crop in Iraq for the period (1990 - 2019) and to determine the factors affecting the production of the crop, represented by the price and non-price factors. The Nerlov partial adjustment model was used for a set of explanatory variables, namely, corn production as a dependent factor, the price of the crop for the current and previous years, rains, corn production in the previous year, price risk, technology variable, and the qualitative variable represented by the economic blockade as independent factors. The method of least squares was used in the analysis of several functions including linear, double logarithmic, half logarithmic and inverse logarithmic. The results indicated that the double logarithmic function is the best in terms of its conformity with the logic of economic theory and statistical criteria. The value of the coefficient of determination R2 was (0.89), and this indicates that the independent factors affect by (89%) the dependent variable, and that (11%) are due to other factors outside the model whose impact is absorbed by the random variable. The results of all parameters appeared significant according to the t-test at a level of significance (1%) to express the relationship between the dependent variable and the independent variables, and that the calculated F value is greater than the tabular F value, which amounted to (76.69), which indicates the significance of the model as a whole. The results indicated that corn supply is elastic in the short-run and inelastic in the long-run, which indicates that corn growers are less sensitive to price changes. And it was found that the supply of corn increases by (0.14, 0.19, 0.27) when the cultivated areas and prices of the current and previous year increase by one unit in order, and the research concluded that the supply of corn depends on several factors, the most important of which are prices in the current and previous year and the areas planted with the crop and to a lesser extent on the amount of rain And the production of corn in the previous year and the technological factor and other factors despite their positive impact on the production of the crop. The study recommends adopting policies that focus on non-price factors as a means to stabilize and increase corn production.

This research was aimed to estimate the long-run cost and supply functions and to calculate the optimum profit-maximizing level of production, optimum capacity for broiler projects. The preliminary data were obtained by questionnaires that were distributed to project owners in Qadisiyah, Babil and Wasit governorates. A total of 80 projects amounted for 15% of the total projects in these governorates were included. The results indicated that the optimal profit-maximizing and actual production were 25,337, 34,737, and 21.25 tons respectively. The optimum production capacity was 9.9 thousand birds, while the actual capacity was 8.3 thousand chicken The cost elasticities were 0.936, 1.0 and 1.23 at the actual, optimal and profit maximizing production, respectively. The supply function had low elasticity indicating that the producers face great difficulty in controlling production in case of price changes. From these results, it can be concluded that government support is required for productive inputs, facilitating loans, preventing poultry importing, and adoption of strategic policy for the agricultural sector in general and poultry production in particular. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Agriculture & Nature / Kahramanmaraş Sütçü İmam Üniversitesi Tarım & Doğa Dergisi is the property of Kahramanmaras Sutcu Imam Universitesi and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study aims to investigate the impact of supply-side factors on the export performance of Pakistan at a disaggregated level. It has identified major export categories of Pakistan and constructed a novel time-series data set of each of these categories from 1971 to 2014. Using autoregressive distributed lag (ARDL) model (bound testing), the sectoral focus confirms that major export categories respond differently to changes in various factors of export supply in the long-run. For instance, the relative prices have a larger impact on the export performance of raw materials and value-added manufactured products. Similarly, the cost of production has higher effects on the growth of value-added manufactured and cotton waste exports. On the contrary, production capacity and domestic demand pressure have significantly influenced the export supply almost all manufactured and primary export categories in the long-run. In the short-run, the relative price, cost of production, and production capacity showed mixed effects for the export supply of many primary and manufactured export categories while domestic demand pressure hypothesis is valid in most cases. The study concludes that the factors determining the export supply are changing across the export categories. Hence, it is suggested that the government must revisit the export policy and make the new policy in line with new sectorial realities in order to expand the export sector of the country.

We study the existence of equilibrium price vector in a supply-demand model taking into account the transaction costs associated with the sale of products. In this model, the demand function is the solution to the problem of maximizing the utility function under budget constraints. The supply function is the solution to the problem of maximizing the profit (with given transaction losses) on the technology set. We establish sufficient conditions for the existence of the equilibrium price vector, which are consequences of some theorems in the theory of covering mappings.

The potato crop is an important agricultural commodity domestically,both for consumptionand at the national level for export. It is considered an important source of national agricultural income. Egypt ranks the sixth among potato exproters ,with an average export value of about 7.209 billion pounds during the period (2013- 2018), thus can be relied upon to save part of the foreign exchange. The problem of research focused on the decline in the area of the potato crop in the agricultural seasons new lands of Giza Governorate, especially the Nile season, which represents about 42.67% of the total area of the new lands in the Republic. Especially in view of the high production costs of the new lands of the potato crop as a result of the high production prices requirements,particularly those of prices of summer season seeds imported from abroad, increased of seeds to be grown in the new landsthat make farmers reluctant to grow potato crop. So the research was aimed to examine the production situation of the potato crop in the new lands of Giza governorate, as a case study,given that giza governorate is one of the areas classified by the reports of the "Potato Brown Rot Project"it is free from infection with bacteria that causes brown rot.So it can measure the productions and costs functions of the potato corp and estimate the derivatives that benefit to know for determining unit cost of production and determining efficiency in the use of productive resources. The results :(1) Results showed that most potato farmers are in the initial phase of production function in short run, where the elasticity of production functions is about 1.23, 1.407, and 1.03 for the agricultural seasons of the potato crop.(2)The cost elasticity amounted to about 0.81, 0.64 and 0.95 meaning the production of potatoes in the seasons it takes place in the phase of increasing returns to scale.(3)The price elasticity seasons reached about 0.208, 0.130, 0.443 in the short run at prevailing market prices, so that means the supply response of potatoes crop non-resilient. While the price elasticity in the long run period amounted to 2.4, 1.2, and 2.0, the potatoes crop is flexible for price changes. Research recommends: 1- The production elements available for the crop should be remixed so as to optimize the use of the elements and achieve economic efficiency. 2- Elicitation of new varieties at the horticultural research institute to produce special local varieties for the summer season to bring a balance in price and expansion of tissue culture to increase production and diversify sources of seed production. 3- Encouragement potato farmers to use chemical analysis of the soil to identify optimal quantities of various fertilizers. [ABSTRACT FROM AUTHOR]

This study aims to investigate the impact of supply-side factors on the export performance of Pakistan at a disaggregated level. It has identified major export categories of Pakistan and constructed a novel time-series data set of each of these categories from 1971 to 2014. Using autoregressive distributed lag (ARDL) model (bound testing), the sectoral focus confirms that major export categories respond differently to changes in various factors of export supply in the long-run. For instance, the relative prices have a larger impact on the export performance of raw materials and value-added manufactured products. Similarly, the cost of production has higher effects on the growth of value-added manufactured and cotton waste exports. On the contrary, production capacity and domestic demand pressure have significantly influenced the export supply almost all manufactured and primary export categories in the long-run. In the short-run, the relative price, cost of production, and production capacity showed mixed effects for the export supply of many primary and manufactured export categories while domestic demand pressure hypothesis is valid in most cases. The study concludes that the factors determining the export supply are changing across the export categories. Hence, it is suggested that the government must revisit the export policy and make the new policy in line with new sectorial realities in order to expand the export sector of the country. [ABSTRACT FROM AUTHOR]

In an increasingly complex and dynamic economic and business context, the study of the relationships that firms establish with their suppliers is a very important topic. Firms must use these relationships to ensure that the inputs they acquire are the most appropriate to achieve the desired product. But since not all firms, particularly SMEs, have personnel specifically trained to manage these relationships, or even to manage the firm itself, difficulties can sometimes arise in the management of the firm's supply function. The relationship marketing literature considers it beneficial to establish lasting relationships both with customers and with suppliers. It may be that people who are less well-educated academically are not aware of this situation. Thus, the current work aims to analyse the possible influence of the educational level of the purchasing/supply manager on the long-term orientation of firm-supplier relationships. Specifically, we use a sample of Spanish firms to analyse the moderating effect of this variable on the temporal orientation. Dividing the total sample into two subsamples -- "better-educated" and "less well-educated" managers responsible for the supply function -- we obtain some very interesting results and implications about the effects of trust, communication, cooperation, satisfaction and commitment on the temporal orientation of such relationships. [ABSTRACT FROM AUTHOR]

With the reform of electricity markets, demand response (DR) plays an important role in providing flexibility to the markets. Block bidding market is a new market mode, which is based on the concept of “the same quality, the same price”. The mechanism has great effects in reducing start-stop related costs. In this paper, we propose a double-sided non-cooperative game model in block bidding markets with a DR program. The model combines the advantages of block bidding and the simplicity of hourly bidding. In the model, one side is the non-cooperative game of supply-side power firms, and we propose a novel supply function bidding model based on block duration and load capacity to maximize each firm’s profit. The other side is the demand-side different types of customers, and we propose a DR model that combines hourly-various prices with the block bidding mechanism to maximize each customer’s payoff. The overall market optimization problem is solved by a distributed iterative algorithm, which has great convergence performance. We verify the proposed model on real data, and the results show that the demand load curve becomes flattened with DR, and the total generation costs decrease while the social welfare is significantly improved.