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The purpose is to detect the nonlinearity wholesale rice price formation process in Italy in the 1995–2017 period.

A nonlinear smooth transition autoregressive (STAR)-type dynamics model is used.

Wholesale rice prices are significantly affected by variations in the international price of rice as well as variations in Arborio price.

The limitations include policy recommendations for the production and commercialization of rice in Italy.

Understanding rice pricing dynamics and nonlinearity behavior is pivotal for the survival of the entire European and Italian rice supply chain.

In the extant literature, no evidence exists on non-linearity of rice prices in Italy.

The purpose of this study is to provide an optimal joint strategy of multi-period pricing and sales effort for a retailer with a logit choice demand in an integrated channel.

Customer demand is characterized by a logit choice model, it varies over time and is influenced by price and sales effort. The multi-period decision model for the retailer is constructed using a discrete-time dynamic programming method to determine the optimal price and sales effort in each period.

When the inventory level does not exceed a certain threshold, decreasing price and increasing sales effort over time or as inventory level increases are the optimal strategies. However, once the inventory level exceeds the threshold, the optimal strategy is to maintain both price and sales effort constant as the inventory level changes or to increase price and decrease sales effort over time. Additionally, the greater the influence of sales effort on demand or the higher the arrival rate of customers, the higher the optimal price and the greater the optimal sales effort level.

This study contributes to the existing research on dynamic pricing and sales effort in integrated channels by incorporating a logit choice model. Furthermore, it provides valuable management insights for retailers operating in an integrated channel to make pricing and sales effort decisions based on inventory level and time period.

The purpose of this article is based on the unit patent license fee model in the closed-loop supply chain.

This paper analyzes the impact of the bundling strategy of the retailer selling new products and remanufactured products on the closed-loop supply chain under the condition that the original manufacturer produces new products and the remanufacturer produces remanufacturing products.

The results show that alternative products can be bundled, and in many cases, the bundling of remanufactured products and new products is better than selling alone.

If the retailer chooses bundling, for the remanufacturer, when certain conditions are met, the benefits of bundling are greater than the separate sales at that time; for the original manufacturer, when the recycling price sensitivity coefficient is high, the bundling is better than separate sales.

International roaming (IR) makes it possible to conveniently use mobile communication services (MCS) such as MI access abroad without switching providers, devices or subscriber identity module (SIM) cards. To increase the intensity of competition in the intra-European Union market for IR services, customers will be enabled to buy IR voice and MI access services separately from their existing domestic MCS, as of July, 2014. Specifically, for separated international MI services providers can choose from three different charge types (use-dependent, flat and combination of flat and use-dependent). The purpose of this paper is to empirically examine customer preferences regarding these tariff types for separated international MI services.

Six research questions concerning antecedents of tariff type preferences for separated international MI access services are derived from a literature review. They are empirically addressed by analyzing survey responses obtained for a sample of 496 German-speaking MCS users.

Customers who actively seek for IR price information, consider IR services to be useful, exhibit high use intensities of MI services, do not restrict their MI usage when travelling abroad and tend to prefer flat rates to other pricing schemes. In contrast to these rather “active users”, customers favoring strictly use-dependent tariff plans exhibit significantly lower IR price information seeking efforts and comparatively low use intensities of MI services. Pricing schemes with MI allowances are especially liked by customers who are well-informed regarding and satisfied with IR prices, report above average use intensities of MI services, restrict their MI use abroad, are more likely to switch providers and use MCS mainly for job-related purposes.

The study is based on a German-speaking sample, which deviates from the German adult population. Additionally, the analysis is limited to stated instead of behaviorally revealed preferences for cross-border MI tariff types. Price thresholds influencing whether a cross-border MI tariff is entered into a consumer’s relevant set of offerings are not examined.

The research suggests that mobile network operators are well-advised to offer a clearly structured menu of a limited number of tariffs directed to the three profiled customer segments. Notwithstanding the advantages of such a set of rate plans, international MI tariff schemes with a data volume allowance appear to be generally beneficial both from a provider and an end-customer perspective.

To date, little is known about customer preferences concerning the three rate plan categories and on antecedents of such preferences in the field of MI access abroad. The present study takes a first step to narrowing this knowledge gap.

The purpose of this paper is to explore the dynamic influence of WTI crude oil returns on the stock returns of China’s traditional energy sectors, including oil and gas exploitation, coal mining and processing, petroleum processing and coking, electricity, heat production and supply and mining services.

Hong’s information spill-over test and the DP Granger causality test are applied to investigate the relationship between the two markets. Moreover, a rolling window is introduced into the above two tests to capture time-varying characteristics of the influence of WTI crude oil returns.

The empirical results indicate that, first, there exists significant bidirectional linear causality between WTI crude oil returns and China’s traditional energy sectoral stock returns, but the nonlinear causality appears weaker. Second, the influence of WTI crude oil returns on traditional energy sectoral stock returns has time-varying characteristics and industry heterogeneity both in the linear and nonlinear cases. Finally, the decline of WTI crude oil prices may strengthen its linear influence on the stock returns of traditional energy sectors, while the excessive rise of market values in traditional energy sectors may weaken the linear and nonlinear influence of WTI on them.

The general nexus between international crude oil market and China’s traditional energy stock market is explored both in the linear and nonlinear perspectives. In particular, the dynamic linear and nonlinear influence of WTI crude oil returns on China’s traditional energy sectoral stock returns and its industry heterogeneity are analysed in detail.

This paper applies a volume-price probability wave differential equation to propose a conceptual theory and has innovative behavioral interpretations of intraday dynamic market equilibrium price, in which traders' momentum, reversal and interactive behaviors play roles.

The authors select intraday cumulative trading volume distribution over price as revealed preferences. An equilibrium price is a price at which the corresponding cumulative trading volume achieves the maximum value. Based on the existence of the equilibrium in social finance, the authors propose a testable interacting traders' preference hypothesis without imposing the invariance criterion of rational choices. Interactively coherent preferences signify the choices subject to interactive invariance over price.

The authors find that interactive trading choices generate a constant frequency over price and intraday dynamic market equilibrium in a tug-of-war between momentum and reversal traders. The authors explain the market equilibrium through interactive, momentum and reversal traders. The intelligent interactive trading preferences are coherent and account for local dynamic market equilibrium, holistic dynamic market disequilibrium and the nonlinear and non-monotone V-shaped probability of selling over profit (BH curves).

The authors will understand investors' behaviors and dynamic markets through more empirical execution in the future, suggesting a unified theory available in social finance.

The authors can apply the subjects' intelligent behaviors to artificial intelligence (AI), deep learning and financial technology.

Understanding the behavior of interacting individuals or units will help social risk management beyond the frontiers of the financial market, such as governance in an organization, social violence in a country and COVID-19 pandemics worldwide.

It uncovers subjects' intelligent interactively trading behaviors.

This paper aims to investigate the nonlinear dynamics in the effects of oil price shocks on the exchange rate for a sample from the Group of Twenty (G20) over the period 1994:1-2019:1.

Using monthly time series data covering the period1994:1-2019:1, the author first use the non-parametric triples test of Randles et al. (1980) to ascertain the existence of asymmetric properties in the sample of exchange rates. Then the author used the nonlinear ARDL cointegration approach developed by Shin et al. (2014) to examine the reaction of these exchange rates to the oil price shocks.

This study has identified significant evidence that the exchange rate is asymmetrically distributed, with the effect that high appreciation of the exchange rate is followed by slower depreciation. The NARDL results support such asymmetry even more strongly because in the test the exchange rate is shown to react differently in the long term to positive and negative shocks in oil prices. Another major finding was that the speed of adjustment differed over the sample, as the cumulative dynamic multipliers effect highlighted.

This change in direction and the employment of non-linear technique can be to obtain better insight into the model specification, which the author believes, will not only enhance the findings in the literature but also enhance forecasting and decision-making.

A practical implication of this change is the possibility that policymakers and participants concerned with exchange rate stability should intervene in the market to alleviate the unfavourable impact of oil price shocks on the exchange rate.

Addressing this nonlinear dynamic in the effects of oil price shocks on the exchange rate have at least the following two important reasons: asymmetry and regime change are types of nonlinearities that affect the market dynamics, especially, over marked sample period with such financial crises as the global financial crises of 2007, thereby violating the linear models. Adopting an asymmetric cointegration technique permits to incorporate cointegrated positive and negative components of the considered series.

This paper investigates the dynamic intercorrelation among cryptocurrency (Bitcoin) and conventional financial assets (gold, oil and S&P 500).

The dynamic contemporaneous nexus has been analyzed using spillover index developed and extended by Diebold and Yilmaz (2012, 2014) and Kyrtsou-Labys (2006) nonlinear causality tests. This study is implemented using the daily data spanning from January 2013 to December 2021.

First, using the spillover index, the authors find evidence that the S&P 500 was a net transmitter of volatility from oil and gold markets, but a net receiver of volatility from Bitcoin. Return spillovers from crude oil were transmitted first to gold, and Bitcoin markets and return spillovers from gold were transmitted to Bitcoin. Second, Kyrtsou-Labys nonlinear causality tests provide us further insights into the lead-lag interconnections among the four key considered variables from the economic perspective. Specifically, a close inspection of these empirical results, the integration of the four key assets is significant. Similarly, price fluctuation dependency among Bitcoin, stock, gold and oil markets is generally minimal, but it strengthens throughout the COVID-19 period.

This paper is the first study employing the spillover index Diebold-Yilmaz alongside with Kyrtsou-Labys nonlinear causality tests not only to capture the directional return spillover effects but also to highlight the potential presence of asymmetric causality relationships, nonlinear effects among assets under investigation that the previous studies have been ignored in these relations. Therefore, the main contribution of this article to the related literature in this field is significant.

The purpose of this paper is to survey literature on macroeconomic nonlinear dynamics.

The paper identifies five influential types of models where the possible generation of endogenous cycles and chaotic motion arises. First, the frameworks that make use of the one‐hump logistic type equation; second, the models inspired on the growth literature of the 1940s; third, intertemporal utility maximization problems with increasing returns; fourth, models that can be represented as piecewise dynamic maps; and, fifth, bounded rationality – heterogeneous expectations setups.

The attention will be mainly focused on the theme of business cycles; an interpretation of the deterministic real business cycle model with increasing returns is proposed and a graphical analysis of the underlying system shows that strange attractors are observable for specific sets of parameter values.

The study of endogenous cycles in macroeconomic literature has important implications for policy: if fluctuations are due to deterministic reasons this may imply that by manipulating policy parameters governments may be able to change the qualitative nature of the economy's dynamics.

The paper gives a comprehensive view of nonlinear dynamics in macroeconomics. It shows that various relevant subjects might be addressed in this kind of models, e.g. economic growth, asset pricing, business cycles, consumption decisions, among others.

I survey applications of Markov switching models to the asset pricing and portfolio choice literatures. In particular, I discuss the potential that Markov switching models have to fit financial time series and at the same time provide powerful tools to test hypotheses formulated in the light of financial theories, and to generate positive economic value, as measured by risk-adjusted performances, in dynamic asset allocation applications. The chapter also reviews the role of Markov switching dynamics in modern asset pricing models in which the no-arbitrage principle is used to characterize the properties of the fundamental pricing measure in the presence of regimes.