Vienna University of Economics and Business
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A review of non-cooperative newsvendor games with horizontal inventory interactions
Get PDFThere are numerous applications of game theory in the analysis of supply chains where multiple actors interact with each other in order to reach their own objectives. In this paper we review the use of non-cooperative game theory in inventory management within the newsvendor framework describing a single period inventory control model with the focus on horizontal interactions among multiple independent newsvendors. We develop a framework for identifying these types of horizontal interactions including, for example, the models with the possibility of inventory sharing via transshipments, and situations with substitutable products sold by multiple newsvendors. Based on this framework, we discuss and relate the results of prior research and identify future research opportunities
Do Austrian Programmes Facilitate Labour Market Integration of Refugees?
Get PDFThis study examines two programmes aimed at integrating refugees into the Austrian labour
market: a short-term Skills Assessment and a longer-term Integration Year that includes an
internship and training. The theoretical framework draws on the concepts of social field and
forms of capital proposed by Pierre Bourdieu. Using data from a large-scale refugee survey in
early 2019, we find that Austria’s short-term Skills Assessment fails to increase refugees’
employment chances. The Integration Year positively helps employment, but this outcome is
limited to refugee women. We conclude that integration programmes only help if they provide
refugees with both cultural and social capital. Implications for research and practice are dis-
cussed
Leveraging the Economic Potential of FCC’s Technologies and Processes
Get PDFAn international consortium of more than 150 organizations worldwide is studying the feasibility of various future particle colliders to expand our understanding of the inner workings of the Universe. At the core of the Future Circular Collider (FCC) study is the design of a 100 km long circular particle collider infrastructure that could extend CERN’s current accelerator complex with an integral research program that spans 70 years. The first step would be an intensity-frontier electron-positron collider allowing to study with precision the Higgs couplings with many of the Standard Model particles and search with high-precision for new physics while the ultimate goal is to build a proton collider with a c.m.s collision energy seven times larger than the Large Hadron Collider. Hosted in the same tunnel and profiting from the new infrastructure, FCC-hh would allow to explore a new energy regime where new physics may be at play
colorspace: A Toolbox for Manipulating and Assessing Colors and Palettes
Get PDFThe R package colorspace provides a flexible toolbox for selecting individual colors or color palettes, manipulating these colors, and employing them in statistical graphics and data visualizations. In particular, the package provides a broad range of color palettes based on the HCL (hue-chroma-luminance) color space. The three HCL dimensions have been shown to match those of the human visual system very well, thus facilitating intuitive selection of color palettes through trajectories in this space. Using the HCL color model, general strategies for three types of palettes are implemented: (1) Qualitative for coding categorical information, i.e., where no particular ordering of categories is available. (2) Sequential for coding ordered/numeric information, i.e., going from high to low (or vice versa). (3) Diverging for coding ordered/numeric information around a central neutral value, i.e., where colors diverge from neutral to two extremes. To aid selection and application of these palettes, the package also contains scales for use with ggplot2, shiny and tcltk apps for interactive exploration, visualizations of palette properties, accompanying manipulation utilities (like desaturation and lighten/darken), and emulation of color vision deficiencies. The shiny apps are also hosted online at http://hclwizard.org/
Explaining alternative termination modes of international joint ventures
Get PDFPurpose – The authors combine options logic with transaction cost economics to explain why firms maintain, divest or buy out their international joint ventures (IJVs). It is suggested that a decline in environmental risk and higher partner-related risk makes a firm more likely to acquire an IJV but less likely to divest an IJV. The study also investigates how IJV age moderates the effects of a decline in environmental risk and higher partnerrelated risk.
Design/methodology/approach – The study employs competing risks analyses to examine the drivers of different termination outcomes using a dataset consisting of 459 IJVs in the People’s Republic of China, of which 110 were either acquired or divested by their foreign parent.
Findings – The study finds that changes in environmental risk and partner-related risk affect how firms terminate their IJVs in the People’s Republic of China. Specifically, the authors find that the effect of exogenous and endogenous risk are more pronounced for the acquisition of IJVs than for the divestment of IJVs.
Research limitations/implications – The study contributes to international marketing research by complementing options logic with transaction cost economics to provide a theoretical explanation of the different ways in which IJVs in the People’s Republic of China are terminated.
Practical implications – IJVs continue to be an important yet often unstable method to serve international markets. Our findings increase managers’ awareness of the effect that two important sources of risk may have on the termination of IJVs in the People’s Republic of China.
Originality/value – The study provides novel insights into the effect that changes in exogenous and endogenous risk have on a firm’s choice of termination mode drawing on novel data on the different ways in which foreign firms have terminated their IJVs in the Peoples’ Republic of China
Studie zur Ermittlung der Anzahl an Menschen mit Körper- & Sinnesbehinderung in Niederösterreich sowie deren Unterstützungsbedarf
Get PDFCarbon Prices for meeting the Paris Agreement and their impact on key metals
No full textUnder the Paris Agreement, nations of this world aim to limit temperature increase to well below 2 °C above pre-industrial levels and to pursue efforts to further limit the increase to 1.5 °C. Putting a price on CO2 emissions has been suggested as one approach to tackling global warming. This paper uses the results of suggested carbon pricing systems in the context of the Paris Agreement that consider biophysical boundary conditions for CO2 emissions. The impact of such carbon pricing is estimated statically for two ores – iron ore and bauxite – and four metals/alloys – steel, aluminium, copper and gold – at a commodity level and a company level for some of the largest mining companies in the world. The authors conclude that at the commodity level the upper-bound impact of carbon pricing on metal prices would still be within the market driven price variations of recent years for copper and gold. The situation however looks different for steel and aluminium and for the companies, where prices and profitability would be significantly impacted, in some cases even by the minimum carbon prices used in this study, which would make mining unprofitable.Security: staffonl
Recovery of the Austrian economy following the COVID-19 crisis can take up to three years, IIASA Policy Brief #26
Get PDFCollaboration between researchers from IIASA, WU, WIFO, and the IHS provides scenarios of the medium-run economic effects of the lockdown in Austria using the IIASA macroeconomic simulation model.
The analysis suggests that the return to the business-as-usual trend may take up to three years after a steep initial economic downturn due to the lockdown, and a gradual recovery thereafter
Hybrid Assessment Scheme Based on the Stern-Judging Rule for Maintaining Cooperation under Indirect Reciprocity
Get PDFIntensive studies on indirect reciprocity have explored rational assessment rules for maintaining cooperation and several have demonstrated the effects of the stern-judging rule. Uchida and Sasaki demonstrated that the stern-judging rule is not suitable for maintaining cooperative regimes in private assessment conditions while a public assessment system has been assumed in most studies. Although both assessment systems are oversimplified and society is most accurately represented by a mixture of these systems, little analysis has been reported on their mixture. Here, we investigated how much weight on the use of information originating from a public source is needed to maintain cooperative regimes for players adopting the stern-judging rule when players get information from both public and private sources. We did this by considering a hybrid-assessment scheme in which players use both assessment systems and by using evolutionary game theory. We calculated replicator equations using the expected payoffs of three strategies: unconditional cooperation, unconditional defection, and stern-judging rule adoption. Our analysis shows that the use of the rule helps to maintain cooperation if reputation information from a unique public notice board is used with more than a threshold probability. This hybrid-assessment scheme can be applied to other rules, including the simple-standing rule and the staying rule
The Hidden Paths of Category Research: Climbing new heights and slippery slopes
Get PDFCategory research has flourished over the last decade. While this body of work has prioritized the behavioral and economic consequences of stable classification systems, the papers in this special issue challenge this orientation by highlighting the importance of category dynamics for improving our understanding of markets and fields. We show how these papers support the emergence of category maintenance, the recategorization of mature categories, and the consolidation of new categories as understudied phenomena and as the next research challenges to pursue. After connecting the main findings of the papers in this special issue into a unified process model, we discuss various alternative pathways to further explore those challenges. We also point to how this theoretical endeavor runs on slippery slopes and might lead to cul-de-sacs such as terminological balkanization. We conclude by highlighting the need for developing a more comprehensive understanding of category dynamics