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Article
Publication date: 31 May 2022

Dipankar Das

To run a job guarantee public policy scheme, it is important to know the aspiration level or the reference point of labor, and accordingly, the labor hour and the wage…

Abstract

Purpose

To run a job guarantee public policy scheme, it is important to know the aspiration level or the reference point of labor, and accordingly, the labor hour and the wage sequence are to be prepared. The existing job guarantee schemes consider the same wage rates for all types of jobs. As a result, it is to identify the reference point. The present work aims to propose a job guarantee scheme where different types of jobs have different wage rates. The paper explains the choice problem between labor and leisure at different wage rates and proposes complete computational tools to be incorporated into the job guarantee schemes. The paper also gives a mechanism to prepare the list of jobs and corresponding wage rates by maintaining a balance between labor and leisure, where productive activities measure labor hours and labor welfare measures leisure hours. Lastly, the paper provides the analytical tools to interpret the ex-post data of the job guarantee public policy schemes.

Design/methodology/approach

The paper has been written based on the Coordination Game and its Welfare Implications in the job guarantee public policy schemes.

Findings

The present paper gives an initial work to measure the choice between labor and leisure for the different wage rates practically. This will help in getting the equilibrium strategies, namely, the combination of the labor hour and the wage rate between the policymaker and the labor. This method will help to implement the job guarantee schemes. For example, to run successfully the Basic Income policy, the basic income calculation should give due care; otherwise, there will be a downward trend in the basic income and the welfare of labor will be reduced, because the labor would have to supply excess labor to meet the target income.

Originality/value

This paper derives theories and explains how the equilibrium in this coordination game can be achieved. The paper explains how the policy of the job guarantee schemes can be practiced practically. In the MGNREGA scheme, the public institution declares different categories of jobs with different wage rates. The categories have been classified with respect to the hours required to complete the job. Therefore, the public institution declares different lists or a sequence of pairs of labor hours and wage rates. Moreover, the list is stochastic, because the list can be changed by the inclusion of an offer from the market as well. The labor has to select from the list. The challenge on the part of the public institution is to prepare the list in such a way so that the inclusion of the market offers will not distort the equilibrium of the coordination game. An important method has been proposed here to analyze the ex-post data of job offers so that the preparation of the future sequence of the job offers can be prepared with due care. One objective of the policymaker here is to make a list of job offers in such a way so that the labor supply will be converging to a point and that will not deviate if the wage rate increases further. This objective will make a balance of the distribution of funds between the existing registered labor and the new entrants into the job guarantee schemes.

Details

Journal of Economic Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 7 March 2022

Dipankar Das

Artificial intelligence (AI) has become an input to the production of goods and services. Therefore, a general question is there that “How the labor hour/human resource…

Abstract

Purpose

Artificial intelligence (AI) has become an input to the production of goods and services. Therefore, a general question is there that “How the labor hour/human resource will be replaced by the artificial intelligence?” To answer this question, the paper considers that both AI and the human resources (HR) are the inputs to the firm and explains the choice between the two with reference to the customer relationship management. The paper derives the individual firms and the industry demand functions of the AI and the HR when both are present in the production of the identical or closely related goods and services. Moreover, the paper also shows the strategic behavior of an individual firm with the industry in selecting the AI and the HR. It has been shown that the individual firm's choice in the industry depends on the choice of the industry leader. The paper explains the supermodular game between the firms in an industry.

Design/methodology/approach

Game theory, industrial organization and non-convexity theories have been used in this paper to identify the choice between the HR and the AI in the customer relationship management.

Findings

The paper explains analytically the preference and demand for AI in the industry. Individual firm's strategic behavior and decision on choosing AI and the industry equilibrium have been studied logically. Moreover, the paper gives some light on the question of employment in presence of AI. The paper proves that in the presence of AI, labor demand will not be reduced but both will be used.

Originality/value

This work proves for the first time using some logical derivation that AI will not crowd out labor from the market. Moreover, to run AI, labor should also be used. It has been proved that to complete a job with speed and quality, both AI and HR are to be used.

Details

Journal of Economic Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 14 December 2021

Dipankar Das and Vivek Sharadadevi Jadhav

To understand the new non-linear pricing in E-commerce. The present paper aims to put forth an idea of using tie-in agreement in the electronic commerce market in the name…

Abstract

Purpose

To understand the new non-linear pricing in E-commerce. The present paper aims to put forth an idea of using tie-in agreement in the electronic commerce market in the name of trust in India. According to the Indian antitrust law, tie-in agreement is not allowed to use as compulsory in an offer to the buyer. This means that a tie-in agreement cannot be a compulsion or only an option to the buyer. This means it can be an extra option.

Design/methodology/approach

The paper shows that using this logic the sellers are giving two options simultaneously to the buyer: (1) a commodity with a tie-in agreement and (2) the same commodity without a tie-in agreement. Therefore, there are two price mechanisms that are present. Now it is the decision of the buyer to choose between the two. These two price mechanisms create a new variable called trust. If the buyer selects the first option, then that buyer will not be treated as a trustworthy buyer, but in the second case, the buyer would be treated as a trustworthy or the affianced buyer. Therefore, the buyer would be leaning toward the second option. The paper proves that in the second option it would be difficult to minimize the consumer expenditure. As a result, there would be a situation of non-linear pricing in the name of trust which is hidden in the offer. The present work gives both theoretical models and empirical justifications.

Findings

We find that E-wallet is often used when a consumer orders food online but offline cash payment is preferred. Therefore, the offer does matter for the consumer. Hence, the offer can be used to make a tie-in arrangement. Therefore, even if there is a tie-in arrangement in online food servicing applications, the Competition Commission of India can restrict such practices as for illegal tying, the firm has to have the monopoly power in one market and there should be compulsory tie-arrangement in another market. But it does not mean that E-wallet tie-arrangement cannot be ignored as the monopoly power in the online food servicing market can influence the market share in the E-wallet market. Tie-in arrangement is also important, as the consumer has to spend more under cashback offer conditions which reduce the long-run gain of consumers.

Originality/value

The paper considered trust as a new element in forming non-linear pricing. This is new to this literature.

Details

Journal of Economic Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0144-3585

Keywords

Content available
Book part
Publication date: 9 March 2021

Abstract

Details

Global Tariff War: Economic, Political and Social Implications
Type: Book
ISBN: 978-1-80071-314-7

Book part
Publication date: 9 March 2021

Debabrata Mukhopadhyay and Dipankar Das

This study intends to explore the impact of World Trade Organization (WTO) which came into existence from January 1, 1995, on the export share of developing counties in…

Abstract

This study intends to explore the impact of World Trade Organization (WTO) which came into existence from January 1, 1995, on the export share of developing counties in the world exports of all goods together in US$, that is, in global merchandise trade. This study endogenously determines the structural break in changing export share of developing countries and how are they related to the major changes in the multilateral trading systems of international trade, in particular, the introduction of the WTO by following a multiple breakpoint analysis due to Bai–­Perron. In this context, it would be worthwhile to note that the shift toward more export-oriented strategies by a large number of developing countries has accelerated the growth of LDC exports. This study also compares the changing share of merchandise exports and trade in commercial ­services for developing countries and the LDCs in the Post-WTO regime. The ­authors follow a univariate time-series exploratory analysis to understand the trend in world export shares of all goods and commercial services for different regions of the developing world and demonstrate the potential of these regions in the expansion of trade. The study, while evaluating the impact of WTO in changing export share in terms of structural change analysis, enables us to understand the role tariff cut in the developed countries on the imports from developing countries. This study also observes increasing inequality in terms of export share among different regions of the developing world.

Details

Global Tariff War: Economic, Political and Social Implications
Type: Book
ISBN: 978-1-80071-314-7

Keywords

Book part
Publication date: 26 November 2019

Debabrata Mukhopadhyay and Dipankar Das

Financial sustainability in emerging market economies crucially depends on stable foreign capital inflows as these countries lack adequate domestic capital and…

Abstract

Financial sustainability in emerging market economies crucially depends on stable foreign capital inflows as these countries lack adequate domestic capital and sophisticated technology. This study attempts to examine the impact of major political risk factors in the emerging market economies along with basic economic fundamentals such as institutional variables like per capita electric consumption, trade openness, and real rate of interest. We have followed a static panel data approach in studying the impact of these crucial variables in Foreign Direct Investment (FDI) inflows in 15 major emerging economies for the period 2000–2014. Risk perceptions, i.e., political risk data, have been collected from the International Country Risk Guide (ICRG) provided by the Political Risk Services (PRS) Group. In our research purpose, we have considered dependent variable as FDI inflows for 15 emerging countries during the period 2000–2014, which are drawn from the United Nations Conference on Trade and Development (UNCTAD, 2014, 2015) FDI database. Our results demonstrate that there are six subcomponents of risk perception (political risk) which are statistically significant in explaining variation in FDI inflows of the major emerging countries. The results show that government stability, socioeconomic conditions, religious tension, and bureaucracy quality have a positive impact on FDI inflows of emerging countries, whereas internal conflict and law and order have a negative impact on FDI inflows of these countries. Stable government is more attractive to foreign investors. Again, an improvement in the socioeconomic conditions is positively related with FDI inflows in emerging countries. Decreasing bureaucracy leads to a reduction in corruption, and assists expanding FDI flows in the emerging country.

Details

The Gains and Pains of Financial Integration and Trade Liberalization
Type: Book
ISBN: 978-1-83867-004-7

Keywords

Content available
Book part
Publication date: 26 November 2019

Abstract

Details

The Gains and Pains of Financial Integration and Trade Liberalization
Type: Book
ISBN: 978-1-83867-004-7

Article
Publication date: 29 April 2014

Debasis Das Adhikary, Goutam Kumar Bose, Dipankar Bose and Souren Mitra

The purpose of this paper is to present a multi criterion failure mode effect and criticality analysis for coal-fired thermal power plants using uncertain data as well as…

Abstract

Purpose

The purpose of this paper is to present a multi criterion failure mode effect and criticality analysis for coal-fired thermal power plants using uncertain data as well as substituting the traditional risk priority number estimation method.

Design/methodology/approach

Grey-complex proportional assessment (COPRAS-G) method, a multi criteria decision making tool is applied to evaluate the criticalities of the failure modes (alternatives). In this model the criteria (criticality factor) against each alternative are expressed in grey number instead of crisp values.

Findings

Rupture failure of the straight tube of economizer (ECO) due to erosion is the highest critical failure mode whereas rupture failure of the stub of ECO due to welding defect is the lowest critical failure mode.

Originality/value

This paper incorporates human and environmental factors as additional factors which also influence the failure modes significantly. The COPRAS-G method is modified according this problem. Uncertainty in the scoring of criticality factors against each failure mode by various maintenance personnel is expressed in grey numbers.

Details

International Journal of Quality & Reliability Management, vol. 31 no. 5
Type: Research Article
ISSN: 0265-671X

Keywords

Content available
Article
Publication date: 18 April 2008

Satya P. Das and Chetan Ghate

371

Abstract

Details

Indian Growth and Development Review, vol. 1 no. 1
Type: Research Article
ISSN: 1753-8254

Book part
Publication date: 23 December 2010

Raka Ray

Questions about the role and composition of the middle class have been examined and debated in the academy and in the political sphere for more than 100 years. In analyses…

Abstract

Questions about the role and composition of the middle class have been examined and debated in the academy and in the political sphere for more than 100 years. In analyses of the Indian middle class specifically, two questions, both addressed by Diane Davis, seem to excite the most attention. The first has to do with the definition of a middle class, a term that has its origins in a very different social formation as well as its potentially mediating function in democracy. The second and more recent question has to do with what is variously called the “new” or “emerging” middle classes – in short, the middle classes of a liberalizing India.

Details

Political Power and Social Theory
Type: Book
ISBN: 978-0-85724-326-3

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