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This paper aims to study the preferences of the supply chain (SC) members on various power structures under demand information asymmetry considering competing retailers.
Abstract
Purpose
This paper aims to study the preferences of the supply chain (SC) members on various power structures under demand information asymmetry considering competing retailers.
Design/methodology/approach
A two-level SC with one manufacturer and two retailers is designed. The retailers are in Bertrand competition. The manufacturer who holds the confidential demand information chooses the appropriate information sharing (IS) format. Three IS formats are provided, i.e. no IS (the manufacturer never shares with the retailers), partial IS (the manufacturer shares with one retailer), full IS (the manufacturer shares with all retailers). In addition, the authors model two power structures based on the decision sequences in the SC, i.e. retailers or manufacturer-dominant SC. The authors characterize the equilibrium solutions and payoffs and then investigate the members’ preferences for IS formats.
Findings
It is shown that in retailers (manufacturer)-dominant SC, the retailers prefer full (no) IS, but the manufacturer prefers no (full) IS. Moreover, the authors analyze the members’ preferences on power structures under demand information asymmetry, which has a relationship with the degrees of demand uncertainty and competition intensity.
Originality/value
The analysis regarding the preferences of the SC members on power structure under demand information asymmetry provides valuable managerial insights to enhance cooperation and achieve a win-win result.
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Nida Rahman and Krishan Sharma
Regional comprehensive economic partnership (RCEP) is understood as the world's largest trading bloc given its contribution to the world output (30%). The mega trade bloc brings…
Abstract
Purpose
Regional comprehensive economic partnership (RCEP) is understood as the world's largest trading bloc given its contribution to the world output (30%). The mega trade bloc brings together 15 countries of East Asia, Southeast Asia and Oceania to eliminate tariff and non-tariff barriers in goods and services trade. The study suggests the importance of sector specific reforms for Malaysia to strengthen domestic capability.
Design/methodology/approach
The analytical framework constructs upon the partial equilibrium analysis and uses WITS SMART simulations.
Findings
The study finds that Malaysia's elimination of tariffs under the RCEP will cause a surge in imports from developed member countries of RCEP like Australia, South Korea and Japan. The study also finds a trade diversion in countries such as India. The empirical results establishes that RCEP would further strengthen intra-ASEAN trade.
Research limitations/implications
The study explores select sectors of the manufacturing industry in Malaysia.
Practical implications
The implementation of RCEP would impact the manufacturing sector immensely, especially in sectors like electrical machinery and equipment and inorganic chemicals, which are two of the major trading commodities of the Malaysian economy.
Social implications
Any trade agreement has a larger impact on the society. It may raise income, boost the consumer preferences and create or erode consumer welfare. The study reports the consumer welfare effect of the implementation of RCEP in Malaysia.
Originality/value
The study is the first attempt to do a partial equilibrium analysis for the electrical machinery and equipment sector and inorganic chemicals sector of Malaysia using both aggregated and disaggregated data at HS two-digit and HS six-digit level.
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Won-Hyuk Lee, Tae-Wook Na, Kyung-Woo Yi, Seung-Min Yang, Jang-Won Kang, Hyung Giun Kim and Hyung-Ki Park
When a pure titanium component is fabricated in a selective laser melting (SLM) process using titanium powder, the oxygen concentration of the SLM sample increases compared to the…
Abstract
Purpose
When a pure titanium component is fabricated in a selective laser melting (SLM) process using titanium powder, the oxygen concentration of the SLM sample increases compared to the initial powder. The purpose of this paper is to study the reason for increasing oxygen concentration after SLM.
Design/methodology/approach
To understand this phenomenon, the authors analyzed the oxidation behavior during the SLM process thermodynamically.
Findings
Based on the laser parameters used in this study, the temperature of the Ti melt during the SLM process was expected to rise to 2,150°C. Based on the thermodynamic analysis, the equilibrium oxygen partial pressure for oxidation was 2.32 × 10−19 atm at 2,150°C when the dissolved oxygen concentration in the titanium is 0.2 wt.%. However, the oxygen partial pressure inside the SLM chamber was 1 × 10−3 atm, which is much higher than the equilibrium oxygen partial pressure. Therefore, oxidation occurred during the SLM process, and the oxygen concentration of the SLM sample increased compared to the initial powder.
Originality/value
Most studies on fabricating Ti components using additive manufacturing (AM) have been focused on how the changes in the microstructures and mechanical properties depend on the process parameters. However, there are a few studies that analyzed the oxygen concentration change of Ti during the AM process and its causes. In this study, the authors analyzed the oxidation behavior during the SLM process thermodynamically.
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The purpose of this paper is to build a unified model of human information behavior (HIB) for integrating classical constructs and reformulating the structure of HIB theory.
Abstract
Purpose
The purpose of this paper is to build a unified model of human information behavior (HIB) for integrating classical constructs and reformulating the structure of HIB theory.
Design/methodology/approach
This paper employs equilibrium perspective from partial equilibrium theory to conceptualization and deduction, starting from four basic assumptions.
Findings
This paper develops two models to incorporate previous HIB research approaches into an equilibrium-analysis-oriented information supply-demand (ISD) framework: first, the immediate-task/problem-based and everyday life information-seeking (ELIS)-sense-making approaches are incorporated into the short-term ISD model; second, the knowledge-construction-oriented and ability-based HIB research approaches are elaborated by the long-term ISD model. Relations among HIB theories are illustrated via the method of graphical reasoning. Moreover, these two models jointly reveal the connection between information seeking in immediate problematic situations and long-term ability improvement.
Originality/value
The equilibrium framework enables future research to explore HIB from three perspectives: stages: group the classical concepts (e.g. anomalous state of knowledge, uncertainty) into different stages (i.e. start state, process, goal state) and see how they interact with each other within and across different stages; forces: explore information behaviors and information-related abilities as information supply and demand forces, and see how different forces influence each other and jointly motivate people to pursue the equilibriums between outside world and mental model; and short term and long term: study the connections between short-term information seeking and long-term ability improvement at both theoretical and empirical levels.
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The purpose of this paper is to study the optimal coverage limit in a model of deposit insurance with capital requirements and risk sensitive premia to prevent moral hazard.
Abstract
Purpose
The purpose of this paper is to study the optimal coverage limit in a model of deposit insurance with capital requirements and risk sensitive premia to prevent moral hazard.
Design/methodology/approach
The theoretical model has incorporated capital requirements, risk‐sensitive premium, and partial deposit insurance in a partial equilibrium model. The model discusses the interaction among risk‐taking banks, ex‐ante heterogeneous depositors, and a deposit insurer.
Findings
First, the paper shows that optimal coverage encourages depositors' monitoring and withdrawals. Partial deposit insurance improves social welfare. Second, risk‐sensitive premia and market discipline are essential to reduce bank risk taking behavior. Third, adjustment between level of coverage and the premium guarantees long term liquidity of the deposit insurance funds and makes banks better off. Fourth, numerical findings are consistent with the empirical evidence that shows differences in coverage between countries.
Research limitations/implications
Timing and frequency of adjustments to coverage limits and the implementation of co‐insurance have been beyond the scope of this study but those implications are worth further investigation.
Originality/value
In the current crisis, banking regulations combined with poor management and supervision have been responsible for banks' improper leverages, lending and securitization. A bank failure could easily turn into a crisis when the financial institution is overly exposed to credit risks and when the government is least equipped to deal with those risks. Thus, the study of the partial deposit insurance is important in achieving stability in the banking sector.
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This theoretical paper aims to illustrate that tourism economies differ substantially with respect to market conditions, such as demand elasticity and industrial structure, which…
Abstract
Purpose
This theoretical paper aims to illustrate that tourism economies differ substantially with respect to market conditions, such as demand elasticity and industrial structure, which have a clear effect on the distribution of the tax burden.
Design/methodology/approach
This paper has used partial and general equilibrium frameworks to study the effects of a production tax on the overall welfare of a tourism economy. The two frameworks are linked via the relative price of tourism based on the assumption that it is influenced by a typical tourism economy that is able to enjoy a certain degree of market power in its tourism exports.
Findings
We have discovered that the division of the tax burden is significantly affected by local market conditions, such as demand elasticity and industrial structure. Generally, tourism economies differ with respect to those characteristics, which can be crucial in determining the success of a tourism tax. This line of research has enabled us to determine why different tourism tax rates have been adopted in various markets and to provide a justification for government selection of a particular tax in a given market. The rational criterion for tax choices is to maximize the likelihood of enhancing welfare or to minimize the risk of reducing efficiency.
Originality/value
This paper argues that those conditions are crucial to determining the success or failure of a tourism tax and may thus be able to explain why each tourism economy has adopted a different tax.
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During the Paris Convention, Korean Government made commitment to curb carbon emission by 37 percent by the year of 2030. Since then there has been constant debate, both in media…
Abstract
Purpose
During the Paris Convention, Korean Government made commitment to curb carbon emission by 37 percent by the year of 2030. Since then there has been constant debate, both in media and academia, as to whether attempts to reduce carbon emission would spell the concomitant economic slowdown. The purpose of this paper is to build a Computable General Equilibrium (CGE) model to see the effects of emission decrease on Korea economy.
Design/methodology/approach
To answer the above question, we build a comprehensive framework to gauge the economic impact of Paris Convention through the lens of Computable General Equilibrium (CGE) model using Armington and Melitz model.
Findings
Contrary to conventional wisdom, Korea’s economic performance in terms of welfare remains robust when the carbon emission is reduced. Broadly speaking, Korea’s welfare does not contract significantly in part due to expansion at the export market. For instance, the energy intensive industry (EIT) is affected most directly from the Paris Convention commitment and yet it experiences growth in export. On the contrary, the authors find that the general economic impact on Korea’s output is negative. The additional experiment using Melitz model shows that as the carbon reduction is enforced, both the number and the average productivity of the exporting firms increase in the EIT sector, which the authors refer in the paper as the “Melitz Effect.”
Practical implications
This paper shows that what can be occurred in Korean industries by emission decrease commitment.
Social implications
One byproduct from restricting carbon emission is the surge in the electricity price. This is due to the fact that industries have to shift away from traditional fuels such as oil to electricity for energy. Therefore the authors propose that industrial policies aimed at balancing electricity price should accompany the plan to reduce carbon emission.
Originality/value
For Korean economy, the effects of emission reduction is researched using Armington and Melitz model at the same time. Especially, this is the first research case using the Melitz model in this Korean topic.
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Climate change affects the geographic and seasonal range of malaria incidence, especially, in poor tropical countries. This paper aims to attempt to conceptualize the potential…
Abstract
Purpose
Climate change affects the geographic and seasonal range of malaria incidence, especially, in poor tropical countries. This paper aims to attempt to conceptualize the potential economic repercussions of such effects with its focus on Ethiopia.
Design/methodology/approach
The paper is conceptual and descriptive in its design. It first reviews existing literature and evidence on the economic burdens of malaria, and the impacts of climate change on malaria disease. It then draws the economic implications of the expected malaria risk under the future climate. This is accompanied by a discussion on a set of methods that can be used to quantify the economic effects of malaria with or without climate change.
Findings
A review of available evidence shows that climate change is likely to increase the geographic and seasonal range of malaria incidence in Ethiopia. The economic consequences of even a marginal increase in malaria risk will be substantial as one considers the projected impacts of climate change through other channels, the current population exposed to malaria risk and the country’s health system, economic structure and level of investment. The potential effects have the potency to require more household and public spending for health, to perpetuate poverty and inequality and to strain agricultural and regional development.
Originality/value
This paper sheds light on the economic implications of climate change impacts on malaria, particularly, in Agrarian countries laying in the tropics. It illustrates how such impacts will interact with other impact channels of climate change, and thus evolve to influence the macro-economy. The paper also proposes a set of methods that can be used to quantify the potential economic effects of malaria. The paper seeks to stimulate future research on this important topic which rather has been neglected.
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This study aims to carry out a critical analysis of the methods used to deal with the regulatory impact assessment while proposing an alternative method to overcome some of the…
Abstract
Purpose
This study aims to carry out a critical analysis of the methods used to deal with the regulatory impact assessment while proposing an alternative method to overcome some of the drawbacks of the aforementioned methods.
Design/methodology/approach
To achieve the objective of this work, the methods currently used in regulatory impact analysis are presented by highlighting their scope and the problems they may pose during their applications. After that, the adjusted variant of radial measure is suggested as an alternative method to the aforementioned methods while showing its relevance with regard to other methods using pertinent criteria. Finally, for concretization, a case study related to the sanctions against Russia after its invasion of Ukraine is presented.
Findings
The findings show that regulations related to the sanctions against Russia are good enough, with a score of 0.846. However, this score is less good in several countries like Germany (0.671), Italy (0.677) and France (0.745) and in the poorest countries.
Originality/value
The originality of this work resides in using a novel method in the regulatory impact analysis field, which is adjusted variant of radial measure. This method increases the effectiveness of the regulatory impact assessment.
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– The purpose of this paper is to measure the effects of TPP on Korean economy focussing on the changes in the number of firms and productivity.
Abstract
Purpose
The purpose of this paper is to measure the effects of TPP on Korean economy focussing on the changes in the number of firms and productivity.
Design/methodology/approach
Following Melitz (2003) and Balistreri et al. (2011), the authors apply CGE simulation to five groups of 140 countries.
Findings
The authors find that welfare increases in Korea to join the TPP regardless the size of the TPP through productivity improvement of participating firms and increases in the number of exporting firms, factor prices and outputs.
Practical implications
This study helps tentative member countries of TPP decide to join.
Originality/value
The effects of TPP to Korean economy is measured with Melitz model, which has not yet attempted before.
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