Market Design

This paper first proposes a competitive market structure for reactive power procurement and then develops a methodology for incorporating voltage stability problems into the model. The owners of electric transactions should participate in this competitive framework and submit their own firmness bids in ($/MW) to the Independent System/Market Operator (ISO- IMO). ISO clears the market for reactive energy regarding the

In this paper, we discuss a one-sided many-to-many matching model. Unlike a labor market matching model, agents may not be divided into two in our model. Moreover, unlike a roommate model, each agent is allowed to have multiple partnerships in our model. In addition, two agents may form multiple partnerships between them. We consider that each agent has a specific preference on the possible matchings. We represent a matching as a multiple graph and consider stability and efficiency of matchings of the model. We give a characterization of a matching that is stable and not Pareto dominated by any individually rational matching. Finally, we show that a direct mechanism for selecting a stable matching that is not Pareto dominated by any individually rational matching is not strategy-proof.

Digital markets depend on recommender systems that facilitate the interaction among suppliers, distributors, and consumers; ultimately increasing sales volume and allegedly increasing user utility. Beyond this operational cornerstone, recommender systems also have a passive role on how these markets organize and behave (e.g. funneling consumers into few suppliers or promoting obscure products and services that can better satisfy consumer needs). The potential effect of recommendations appears to be larger on cultural or entertainment and media industries, where product’s uncertainty for consumers and producers is usually high. As such, cultural diversity and market concentration on content platforms (e.g. YouTube, Spotify) are susceptible to the effect of recommendation systems algorithms. The study of diversity has been a focal topic for individual recommendation optimizations, but little attention has been given to aggregated measures of diversity. Previous work on this area states that collaborative based recommender systems have an impact on sales diversity. I expand on this presenting an agent-based model to test the impacts of recommender systems on cultural markets. The model offers a framework to estimate the effects of state-of-the-art content-based and collaborative filtering algorithms on diversity. Early results confirm previous work. Next steps include the use of machine learning algorithms, social influence, and adaptive behavior of users. Current and future work will provide useful insights for marketing modeling, content platform policy, and the use of recommenders in market design.

The integration of food into urban planning is a crucial and emerging topic. Urban planners, alongside the local and regional authorities that have traditionally been less engaged in food-related issues, are now asked to take a central and active part in understanding the way food is produced, processed, packaged, transported, marketed, consumed, disposed of and recycled in our cities. Despite a growing body of literature on food and cities, the issue of planning cities in such a way they will increase food security and nutrition, not only for the affluent segments of society but primarily for the poor, is much less discussed, and much less informed by practices. This volume intends to fill this gap by putting more than 20 city-based experiences in perspective: Toronto, New York City, Providence and Portland in North America; Cape Town and Ghana in Africa; Milan in Europe; Lima and Belo Horizonte in South America; and, in Asia, Bangkok, Solo and Yogyakarta in Indonesia, and Tokyo.

Page 1. The Art of the Entrepreneurial Marketer Dr Ian Fillis Senior Lecturer Department of Marketing University of Stirling Stirling FK9 4LA Scotland, UK [email protected] Abstract: This paper interrogates the notion of the art of the entrepreneurial marketer by ...

In media studies, there is recurrent fascination with how communication , especially when couched in terms of "information," tends to influence many spheres of social life and intellectual endeavor. Some of the key figures in that discipline have been especially attentive to the implications for politics of the modern advent of the "information economy." Nevertheless, we think that there has been little impetus among media scholars to explore how other disciplines , and in this case orthodox economics, have been providing competing accounts of the nature and importance of information over the same rough time frame. Furthermore, we think they might be surprised to learn that Friedrich Hayek and the neoliberals have been important in framing inquiry into the information economy for the larger culture for a couple of generations. This essay is a preliminary report on what would happen to intellectual history if media studies took the early development of the "economics of information" into account.

Purpose – The purpose of this paper is to present a new marketing mix based on MBA students' attitudes and opinions towards the marketing initiatives of business schools in South Africa. The post-graduate business education market is, and increasingly, getting more aggressive in their efforts to attract students on to their flagship degree, the MBA. The traditional marketing tools historically grouped into 4Ps (product, price, place and promotion), 5Ps (adding people) and 7Ps (adding physical facilities and processes) may be wanting in this market.

Design/methodology/approach – The approach taken was a quantitative survey of students registered at state subsidized universities in South Africa.

Findings – The factor analysed data showed seven quite distinct underlying factors in the marketing activities of these business schools, some covering the same elements of the traditional marketing mix: people, promotion, and price. There were, however, four different elements: programme, prominence, prospectus, and premiums.

Research limitations/implications – While the survey included only MBA students from a sample drawn in South Africa, the study does highlight the fact that the traditional services marketing mix may not be as useful to the higher education sector as it might have been originally thought.

Practical implications – The development of marketing strategy may be better served by this 7P model rather than the services mix.

Originality/value – This paper presents the underlying factors that form the basis of a new marketing mix specifically for MBA recruitment.

Purpose – The purpose of this paper is to verify whether relationship marketing is a new paradigm that has replaced transactional marketing. Design/methodology/approach – A literature and empirical study indicated that relationship marketing is neither an invention of the late twentieth century, nor prevailing in practice. This suggested that rather than a complete paradigm shift, relationship marketing and transactional marketing are complementary. Through interviewing five Scandinavian companies about their marketing priorities, their mix of transactional and relationship marketing approaches was studied. Findings – The paper finds that no company exclusively used the relationship marketing approach. Some were merely utilizing the traditional marketing concept of 4Ps; others were blending a relationship and transactional marketing mix. Research limitations/implications – This is a limited study, which calls for further validating. Practical implications – The Kotlerism of the 4Ps ...

... Archana Kumar, University of Tennessee, Knoxville, Tennessee, USA. ... consumers are purchasing these brands in modern shopping formats such as malls and department ... Bharadwaj, VT, Swaroop, GM, Vittal, I. (2005), "Winning the Indian consumer", McKinsey Quarterly, No ...

Information and communication technologies (ICT) have altered the balance of cost between activities within a firm and activities between firms. Easier co-operation allows companies to focus on their core strengths, while forming relations with other firms to supply the other needed skills to bring a product to market. Design, in one firm or in a consortium, is iterative and does

The book gathers some of the most important theories of matching, and guides the reader to the discovery of the practice of Market Design. The field of Matching Theory is devoted to study and solve allocation problems into matching markets, where prices and payments cannot be used, and agents' preferences are the discriminants. The assignments' solutions lie at the crossing of Economics, Mathematics and Computational Science, and consist of mechanisms that have the strength to be tailored and implemented into real-world contexts. The economist becomes an engineer who uses theoretical tools for designing, and practically building, efficient markets for bettering the well-being of all the agents involved.