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Introduction: It is commonly observed that the ratio of food prices during the war times had become significantly more important than usual periods within the countries including Turkey, known as the Ottoman Empire that previously defeated in Balkans just before the Great World War. The scope of the study is to analyze increased or decreased wheat prices together with price fluctuations during the war period.

Aim: This study investigates the food pricing progress during The Great World War and its relationship with wheat prices.

Method: A model for the behavior of time series is applied to compare the important days of the war data against the timeline of wheat prices for British, German, and French. The statistical test named Holt–Winters uses exponential smoothing technique to encode the various values from the past and predicts “typical” values for the present and the future.

Findings: As a result, it can be said that wheat prices had anomaly patterns during the specific dates in war for French, British, and German sides. Great Britain’s wheat prices increased significantly on April 1915 when landings began on the Gallipoli Peninsula. Wheat prices in Great Britain and Germany dropped significantly just before on July 1916 when the first Battle of the Somme began. However, it increased in Great Britain whilst decreased considerably in Germany in March 1918 when the Soviet Government signed a separate peace agreement with the Central Powers. A significant increase for France was observed only at the end of this war.

Marketing, Pricing, Strategic marketing.

The case is developed for an MBA-level program.

In May 2017, the telecom industry in India witnessed an intense price war over 4G (fourth generation) data prices. Gopal Vittal, CEO of Bharti Airtel was exploring various options on how best to respond to the situation. He had to take a final call regarding Bharti Airtel’s marketing team’s counter move to tackle this price war by Jio – should Bharti Airtel ignore it, accommodate it or retaliate with even lower prices? Bharti Airtel strongly believed that Jio pricing structure had violated “fair pricing” norms, and its pricing was anti-competitive. It had filed a case with the Telecom Regulatory Authority of India (TRAI) and the Competition Commission of India (CCI) to restrain Jio from further giving “free” promotional offers and penalize it for it. Could the legal recourse by Bharti Airtel dampen Jio’s consistent subscriber growth rate?

The case provides the students with an insight into how the competition focused on pricing happens in the telecom industry. The pricing war affects the profit margin of all competing companies. It changes the customer reference point for evaluating the competing products and services. The students would also learn practical applications of positive-sum pricing, pricing war, fair pricing and legal aspects of pricing. This case provides the students with an opportunity to understand the pricing war and how to respond to it in a particular situation; understand positive-sum pricing and negative-sum pricing in telecom industry context; understand legal aspects of pricing; and how to leverage data for gaining newer customer insights.

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CSS 8: Marketing.

The Bureau of Economics in the Federal Trade Commission has a three-part role in the Agency and the strength of its functions changed over time depending on the preferences and ideology of the FTC’s leaders, developments in the field of economics, and the tenor of the times. The over-riding current role is to provide well considered, unbiased economic advice regarding antitrust and consumer protection law enforcement cases to the legal staff and the Commission. The second role, which long ago was primary, is to provide reports on investigations of various industries to the public and public officials. This role was more recently called research or “policy R&D”. A third role is to advocate for competition and markets both domestically and internationally. As a practical matter, the provision of economic advice to the FTC and to the legal staff has required that the economists wear “two hats,” helping the legal staff investigate cases and provide evidence to support law enforcement cases while also providing advice to the legal bureaus and to the Commission on which cases to pursue (thus providing “a second set of eyes” to evaluate cases). There is sometimes a tension in those functions because building a case is not the same as evaluating a case. Economists and the Bureau of Economics have provided such services to the FTC for over 100 years proving that a sub-organization can survive while playing roles that sometimes conflict. Such a life is not, however, always easy or fun.

The study investigates the inter-linkages between geopolitical risk (GPR) and food price (FP).

By employing the bootstrap full- and sub-sample rolling-window Granger causality tests.

The empirical results show that there is a time-varying bidirectional causality between GPR and FP. High GPR leads to a rise in FP, suggesting that geopolitical events usually may disrupt supply and demand conditions in food markets, and even trigger global food crises. However, the negative effect of GPR on FP does not support this view in certain periods. This is mainly because GPR is also related to the global economic situation and oil price, which together have impacts on the food market. These results cannot always be supported by the inter-temporal capital asset pricing model, which states that GPR affects FP in a positive manner. Conversely, there is a positive impact of FP on GPR, indicating that the food market is an effective tool that can reflect global geopolitical environment.

In the context of the Russia–Ukraine conflict, these analyses can assist investors and policymakers to understand the sensitivity of FP to GPR. Also, it will provide significant revelations for governments to attach importance to the role of food price information in predicting geopolitical events, thus contributing to a more stable international environment.

While the popular image of the Sherman Act is that of a “trust-busting” statute, conduct remedies have been more common than structural relief. This paper evaluates the effect on economic welfare of conduct remedies that have resulted from ten prominent Sherman Act monopolization cases. In general, we find that in some cases the behavioral relief has had no consequence other than the cost of litigation and cost of compliance; in other cases, the remedies probably reduced consumer welfare. Cases studied are United Shoe Machinery, AT&T, Std. Oil of California, IBM, United Fruit, Kodak, Safeway, GM, Jerrold, and Blue Chip Stamp.

To achieve a full understanding of the role of marketing from plan to profit requires a knowledge of the basic building blocks. This textbook introduces the key concepts in the art or science of marketing to practising managers. Understanding your customers and consumers, the 4 Ps (Product, Place, Price and Promotion) provides the basic tools for effective marketing. Deploying your resources and informing your managerial decision making is dealt with in Unit VII introducing marketing intelligence, competition, budgeting and organisational issues. The logical conclusion of this effort is achieving sales and the particular techniques involved are explored in the final section.

This study examines the influence of the global geopolitical risk (GPR) on the relationship between oil prices and domestic food prices under the augmented Phillips curve framework.

Using monthly data on Nigeria from January 1995 to December 2021, the authors accommodate symmetry and asymmetry by adopting the linear and nonlinear autoregressive distributed lag, linear and nonlinear Granger causality tests.

The study establishes the positive and significant effects of both oil prices and GPR on food prices in the long and short run, though with a small magnitude in the short run. The asymmetric model shows that, while oil price shocks (positive and negative) exert a positive influence on food prices in the long-run, the effects of oil price shocks differ when accounting for GPR in the short-run. The coefficients of the interactive term, being the moderator of GPR between oil-food prices, are positively significant across models, suggesting that they jointly influence food prices when assuming linearity. The nonlinear model shows that the positive and negative components of interactive terms exert a positively significant influence on food prices, even though food prices tend to be more reactive to positive oil price shocks. The robustness checks show a unidirectional causal flow from oil prices and GPR to food prices under the linear and nonlinear models.

The authors examine the moderating effect of the newly developed global GPR index of Caldara and Iacoviello (2022) on the oil–food inflation relationship in Nigeria by applying the symmetric and asymmetric approaches.

In his article “Geld” of 1909 Menger introduces a principal distinction between “outer exchange value of money” (purchasing power as measured by index numbers) and “inner exchange value of money,” which is affected solely “by influences originating on the side of money,” not on the side of the other goods. Menger chooses constancy of the inner value as policy goal to be achieved by appropriately regulating the quantity of money. In a growing economy, the general price level would have a declining tendency if the money supply were kept constant – a consequence which Menger does not make explicit, and even appears not to have been aware of. There is a fundamental inconsistency in his writings, since in his essays on the currency reform of the Austro-Hungarian monarchy of 1892 Menger warned against undesired consequences of deflation and inflation. Menger’s extensive discussion on how effects on purchasing power on the side of goods could be separated from those attributable to the side of money is referred in the light of then available monetary and price statistics. The inconsistency remains enigmatic. The last part of the present contribution gives a brief overview on how authors of later generations of the Austrian School (Wieser, Mises, Schumpeter, and Hayek), who coined the term “neutrality of money” for Menger’s constancy postulate followed or deviated from Menger’s concepts of the value of money.

Internet + and Electronic Business in China is a comprehensive resource that provides insight and analysis into E-commerce in China and how it has revolutionized and continues to revolutionize business and society. Split into four distinct sections, the book first lays out the theoretical foundations and fundamental concepts of E-Business before moving on to look at internet+ innovation models and their applications in different industries such as agriculture, finance and commerce. The book then provides a comprehensive analysis of E-business platforms and their applications in China before finishing with four comprehensive case studies of major E-business projects, providing readers with successful examples of implementing E-Business entrepreneurship projects.

Internet + and Electronic Business in China is a comprehensive resource that provides insights and analysis into how E-commerce has revolutionized and continues to revolutionize business and society in China.

Although critical to profitable pricing, competitive strategy is often overlooked in the pricing process. This often leads to poorly developed competitive actions with profitability suffering. This paper provides a comprehensive integrated process for the strategic management of the connection between pricing and competitive strategy. The use of the process proposed here provides active management of competitive interactions and significantly improves profitability.