Book•
Intermediate microeconomics : A modern approach
01 Jan 2006-
TL;DR: The Varian approach as mentioned in this paper gives students tools they can use on exams, in the rest of their classes, and in their careers after graduation, and is still the most modern presentation of the subject.
Abstract: This best-selling text is still the most modern presentation of the subject. The Varian approach gives students tools they can use on exams, in the rest of their classes, and in their careers after graduation.
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Dissertation•
16 Jun 2015
TL;DR: In this article, it is shown that the Taiwanese and Slovakian versions of the VAT lottery provide more of the public good than an economy with no such lottery. But the difference between the VAT and the charitable lotteries is the existence of firms which have an incentive to cheat and collude with the customers at the expense of the tax office.
Abstract: This thesis consists of two main parts. At first, VAT lotteries are modelled as charitable lotteries for a public good. For that purpose, an economy consisting of risk-neutral, utility maximizing consumers with quasi-linear preferences is assumed. It is shown that the Taiwanese and the Slovakian versions of the VAT lottery provide more of the public good than an economy with no such lottery. The second part analyzes the willingness of firms and consumers to cheat and keep part of the VAT revenue for themselves. This is done because the key difference between the VAT and the charitable lotteries is the existence of firms which have an incentive to cheat and collude with the customers at the expense of the tax office. So when a set of profit maximizing firms is added to the model and the presence of the VAT lottery is still assumed, it is shown that under certain circumstances it might be more profitable for firms and customers to cheat because higher levels of profit or utility, respectively, might be achieved. JEL Classification H25, H41, D62, H26
2 citations
Dissertation•
01 Aug 2014
TL;DR: In this paper, the authors presented two feasible mechanisms for multi-attribute multi-supplier transactions, which allow buyers to control preference representation and information revelation, assuring that suppliers obtain sufficient information in making effective proposals while protecting confidential information.
Abstract: Successful e-procurement depends on selecting the appropriate mechanisms that comprise rules governing and facilitating transaction process. Existing mechanisms have theoretical or practical limitations such as limited number of attributes, disclosure of buyer’s preferences and costly processes. The present research addresses these issues through three studies. Study 1 presents two feasible mechanisms for multi-attribute multi-supplier transactions. They allow buyers to control preference representation and information revelation, assuring that suppliers obtain sufficient information in making effective proposals while protecting confidential information. Following the design-science approach, the mechanisms are implemented to support multi-attribute reverse auctions and multi-bilateral negotiations. Study 2 examines the revelation of information in multi-attribute reverse auctions. Three revelation rules are formulated with admissible bids, winning bids and all bidders’ bids. Their effects on the process, outcomes and bidders’ assessment are tested in two experiments. The results show significant improvement in process efficiency when more information is revealed. The suppliers reached better outcomes with either admissible bids only or all bidders’ bids, while the buyers gained more when revealing the winning bids only. Bidders were more satisfied with the outcomes and system when more information was provided. Study 3 compares multi-attribute reverse auctions and multi-bilateral negotiations in both laboratory and online experiments. The results show that auctions are more efficient than negotiations in terms of the process. Auctions led to greater gains for the buyers, whereas more balanced contracts were reached in negotiations. Suppliers’ assessment was affected by their outcomes, and the winning suppliers were more satisfied with the process, outcomes and system. The buyer’s role was also examined. Different types of information conveyed from buyer influence suppliers’ behavior in making bids/offers and concessions, which in turn affected buyer’s gains.
This research provides implications to future studies and practices in e-procurement, in particular, the formulation of a procedure of two multi-attribute mechanisms and the formulation of general guidelines for strategic use of different mechanisms in various e-procurement contexts.
2 citations
TL;DR: In this paper, the effects of generalized trust in people and trust in food agents regarding the safety of food on the demand for different forms of meat products, on preferences for pork production characteristics and on human health risk perceptions about bovine spongiform encephalopathy (BSE) and chronic wasting disease (CWD) are analysed.
Abstract: Consumers’ concerns about animal diseases, production and processing methods could drive their choices of food products. Consumers’ choices of food products will influence their nutritional status. Understanding preferences for food products could inform policy and assist in forecasting future demand for food products. In this study, the effects of generalized trust in people and trust in food agents regarding the safety of food on the demand for different forms of meat products, on preferences for pork production characteristics and on human health risk perceptions about bovine spongiform encephalopathy (BSE) and chronic wasting disease (CWD) are analysed. The following hypotheses are tested (i) consumers who have lower levels of trust (both general and agent specific trust about food safety) are more likely to purchase fresh meat products and less likely to purchase processed meat products as compared to those consumers who have higher levels of trust. Consumers who have lower levels of trust might be more concerned about the use of additives, flavors and the public information on cancer risks of processed food, for example as compared to those consumers who have higher levels of trust; (ii) consumers who have lower levels of trust (both general and agent specific trust about food safety) are willing to pay higher premiums for pork produced under more traditional forms of production as compared to those consumers who have higher levels of trust. Consumers who have lower levels of trust might prefer traditionally raised pork over conventional pork as compared to those consumers who have higher levels of trust due to concerns about the use of antibiotics, the feed given to animals and the use of hormones, for example; (iii) trust (both general and agent specific trust about food safety) is negatively related to human health risk perceptions about BSE and CWD. The three studies are linked in that the effects of trust on consumer behaviour are analysed in three different contexts and trust is measured using the same questions. The first hypothesis is tested using cluster analysis, demand system analysis, probit models, data from two Canada wide surveys (2008 and 2011) and meat purchase data for the period 2002 to 2009 for the same households. The second hypothesis is tested using cluster analysis, conditional and random parameter logit models and data from choice experiments and surveys in Canada in 2011 and in Edmonton in 2009 and 2011. The third hypothesis is tested using ordered probit regressions and data from surveys conducted in Canada in 2009 and 2010, in the U.S. in 2010 (two surveys) and in Japan in 2009. In summary, the results suggest that households with respondents who have lower levels of trust generally purchased more fresh meat products and fewer processed meat products as compared to households with respondents who have medium or higher levels of trust. Households in the low trust cluster generally substitute fresh and semi-processed meat products more than households in the medium and higher trust clusters. Households in the high trust cluster generally substitute semi-processed and fully processed meat products more than households in the low and medium trust clusters. A little surprising but respondents who have higher levels of trust are generally willing to pay higher premiums for traditionally raised pork as compared to those respondents who have lower levels of trust. Although the effects of trust on consumer’s human health risk perceptions about BSE and CWD are not generally the same across countries or between the two diseases, trust does play a role in influencing risk perceptions in each country. In conclusion, trust is an important influence on consumer behaviour.
2 citations
30 Apr 2019
TL;DR: In this article, the authors assess the effectiveness of implementing decentralised wastewater reuse facilities in industrial parks as a DSM-based strategy targeted at the manufacturing sector and assess the impact of the potential water savings through reuse of wastewater in industrial plants within an overall water supply system.
Abstract: Policy makers are now re-aligning their thinking towards demand-side management (DSM), where for the industrial sector specifically, strategies have been emphasising water consumption reduction through conservation, increased efficiency, and wastewater recycling. Although DSM-based strategies have been seen as a viable option to delay the need for large capital investment and to avoid irreversible environmental impact, their implementation at a large scale have been largely unknown as is implementation has generally been reported at a small-scale. As such, this research attempts to assess the effectiveness of implementation of decentralised wastewater reuse facilities in industrial parks as a DSM-based strategy targeted at the manufacturing sector.
The research first assessed the vulnerability of three reservoirs in Selangor – namely Semenyih, Klang Gates, and Langat dam – against water deficiency events using a modelling approach to analyse their: i) reliability, via the use of an inflow-demand reliability index, and ii) resilience, through a water supply resilience index. Total potential potable water savings were then estimated for all industrial parks in the area served by each reservoir and subsequent potable water treatment plant. The impact of the potential water savings through reuse of wastewater in industrial parks within an overall water supply system was then evaluated.
The feasibility of this DSM-based strategy was assessed in terms of its technical, economics, and environmental impact. Four treatment trains corresponding to the two cases of i) potable and ii) non-potable reuse were assessed in terms of their removal efficiencies necessary to comply with the current potable and non-potable water quality standards. The financial cost of each treatment train was determined for both capital and operational costs, while the environmental assessment was assessed using a Life Cycle Assessment (LCA) approach based on several environmental impact categories.
Findings for the three dams indicated varying level of vulnerability, with Klang Gates dam being the most vulnerable, while Semenyih the least. For Klang Gates and Langat dams, the resultant IDR and WSR indexes achieved similar conclusions; both indices resulted in almost constant negative values for both dams, suggesting that an effective DSM-based strategy could possibly delay the need for implementation of an SSM strategy. For Semenyih dam, it was observed that the system is approaching system vulnerability, where lower IDR and WSR values were observed in the later years as compared to historical scenarios. Here, it can be hypothesised that a well-planned DSM-based strategy might eliminate the need for a SSM strategy.
It was found that there was minimal number of industrial parks within the Klang Gates water supply area, further reducing the feasibility of wastewater reuse to reduce the vulnerability of this WSS. Conversely, it was estimated that, for Langat and Semenyih WSS, approximately 308,903 and 430,281 m3/month of water consumed by the premises within the identified IPs. This translates to approximately 266,430 and 374,009 m3/month of water savings if 90% of the total demand was discarded as effluent, and treated at 95% recovery rate. The savings calculated for this reuse option could contribute to a savings of 5.5% (8.8 MLD) and 12.2% (12.47 MLD) for the Langat and Semenyih dam respectively. These accumulated savings had a different impact on each dam’s vulnerability. For the Langat dam, recalculation of the IDR and WSR values with the savings indicated little change to the system’s overall vulnerability. In contrast, recalculations for the Semenyih dam resulted in positive changes for the WSR specifically, indicating reduced vulnerability of the system.
The feasibility of four treatment trains corresponding to both reuse options for their technical, financial, and environmental dimensions were considered. The general findings in all three dimensions reinforced the option of non-potable reuse, specifically the NP-1 treatment train, which resulted in the lowest cost while providing the highest technical capability to remove contaminants from the industrial wastewater to meet both non-potable and potable water reuse standards. Additionally, from the environmental perspective, the resultant water for reuse had a lower human toxicity impact without an additional blending requirement, though this produced a higher terrestrial eco-toxicity impact due to the contaminants removal to landfill.
On the other hand, it was also illustrated via this research that the additional financial resources, institutional reconfiguration of existing water service industry, as well as current awareness of the industrial players itself will limit the effective implementation of the identified strategy. As such, it was concluded that, although the use of industrial wastewater for manufacturing sector is technical, financial, and environmental feasible, its deployment however, is improbable against the current organizational structure and current awareness of the users.
2 citations
15 Dec 2015
TL;DR: In this paper, acknowledgements and acknowledgements are given for the work presented in this article: https://github.com/mcclouda/blog/blog.
Abstract: ............................................................................................ i Acknowledgements .............................................................................. iii
2 citations