The Experts below are selected from a list of 22014 Experts worldwide ranked by ideXlab platform
Jing Zhao - One of the best experts on this subject based on the ideXlab platform.
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pricing decision for substitutable products with Retail Competition in a fuzzy environment
International Journal of Production Economics, 2012Co-Authors: Wansheng Tang, Jing Zhao, Jie WeiAbstract:Abstract This paper studies the pricing problem of substitutable products in a supply chain with one manufacturer and two competitive Retailers. The consumer demands and manufacturing costs are of uncertainty, which are described by fuzziness. Based on different market structures, one centralized pricing model and three decentralized pricing models are developed, and the corresponding analytical equilibrium solutions are obtained using the game-theoretic approach. Finally, numerical examples are presented to illustrate the effectiveness of the theoretical results, and to gain additional managerial insights.
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pricing decisions with Retail Competition in a fuzzy closed loop supply chain
Expert Systems With Applications, 2011Co-Authors: Jie Wei, Jing ZhaoAbstract:The optimal pricing decision problem of a fuzzy closed-loop supply chain with Retail Competition is considered in this paper. The fuzziness is associated with the customer demands, the remanufacturing cost and the collecting cost. By using game theory and fuzzy theory, the optimal decision on wholesale price, Retail prices and remanufacturing rate are explored respectively under the centralized and the decentralized decision scenarios, and the expressions for them are also established. Some insights into the economic behavior of firms are given, which can serve as the basis for further study in the future.
Jie Wei - One of the best experts on this subject based on the ideXlab platform.
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pricing decision for substitutable products with Retail Competition in a fuzzy environment
International Journal of Production Economics, 2012Co-Authors: Wansheng Tang, Jing Zhao, Jie WeiAbstract:Abstract This paper studies the pricing problem of substitutable products in a supply chain with one manufacturer and two competitive Retailers. The consumer demands and manufacturing costs are of uncertainty, which are described by fuzziness. Based on different market structures, one centralized pricing model and three decentralized pricing models are developed, and the corresponding analytical equilibrium solutions are obtained using the game-theoretic approach. Finally, numerical examples are presented to illustrate the effectiveness of the theoretical results, and to gain additional managerial insights.
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pricing decisions with Retail Competition in a fuzzy closed loop supply chain
Expert Systems With Applications, 2011Co-Authors: Jie Wei, Jing ZhaoAbstract:The optimal pricing decision problem of a fuzzy closed-loop supply chain with Retail Competition is considered in this paper. The fuzziness is associated with the customer demands, the remanufacturing cost and the collecting cost. By using game theory and fuzzy theory, the optimal decision on wholesale price, Retail prices and remanufacturing rate are explored respectively under the centralized and the decentralized decision scenarios, and the expressions for them are also established. Some insights into the economic behavior of firms are given, which can serve as the basis for further study in the future.
Jay Zarnikau - One of the best experts on this subject based on the ideXlab platform.
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Retail Competition, Advanced Metering Investments, and Product Differentiation: Evidence From Texas
Future of Utilities Utilities of the Future, 2016Co-Authors: Varun Rai, Jay ZarnikauAbstract:Retail electricity service can differ with respect to attributes such as reliability of service, environmental impact, value-added services, and payment options. Does a competitive Retail sector foster the diverse pricing and service offerings required to satisfy the heterogeneous needs of consumers? This question is explored by comparing product and service offerings in areas of Texas opened to Competition to those offered by monopoly providers in areas not opened to Retail choice. Competition, supplemented with a state-mandated investment in advanced metering infrastructure (AMI), has led to greater choices of rates and products, consistent with an initial rationale for market reform in Texas.
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energy efficiency programs in a restructured market the texas framework
The Electricity Journal, 2015Co-Authors: Jay Zarnikau, Steve N Isser, Amy MartinAbstract:The past 15 years of experience in Texas suggests that utility-administered energy efficiency programs can succeed in cost-effectively meeting modest energy efficiency goals in an electricity market that has been restructured to introduce Retail Competition. However, many changes to this framework would be required to enable Texas to meet the more aggressive goals suggested by federal greenhouse gas emissions policy proposals.
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industrial customer response to wholesale prices in the restructured texas electricity market
Energy, 2007Co-Authors: Jay Zarnikau, G Landreth, I Hallett, Subal C KumbhakarAbstract:This paper estimates the demand responsiveness of the 20 largest industrial energy consumers in the Houston area to wholesale price signals in the restructured Electric Reliability Council of Texas (ERCOT) market. Statistical analysis of their load patterns employing a Symmetric Generalized McFadden cost function model suggests that ERCOT achieved limited success in establishing a market that facilitates demand response from the largest industrial energy consumers in the Houston area to wholesale price signals in its second year of Retail Competition. The muted price response is at least partially because energy consumers who opt to offer their “interruptibility” to the market as an ancillary service are constrained in their ability to respond to wholesale energy prices.
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Has electric utility restructuring led to lower electricity prices for residential consumers in Texas
Energy Policy, 2006Co-Authors: Jay Zarnikau, Doug WhitworthAbstract:This paper analyzes the determination of residential electricity prices in the competitive Electric Reliability Council of Texas (ERCOT) market. This analysis suggests that electricity restructuring in Texas has not yet resulted in lower prices for the majority of residential energy consumers in areas open to Competition. Contrary to common expectations, residential electricity costs for consumers at a typical (1000 kWh per month) consumption level have increased at a greater rate in the areas of Texas offering Retail choice than in the areas of the State where Retail Competition has not been introduced.
Charles Goldman - One of the best experts on this subject based on the ideXlab platform.
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customer response to day ahead wholesale market electricity prices case study of rtp program experience in new york
Other Information: PBD: 1 Jul 2004, 2004Co-Authors: Charles Goldman, Nicole Hopper, Osman Sezgen, Mithra Moezzi, Ranjit Bharvirkar, Bernie Neenan, Richard N Boisvert, Peter Cappers, Donna PrattAbstract:There is growing interest in policies, programs and tariffs that encourage customer loads to provide demand response (DR) to help discipline wholesale electricity markets. Proposals at the Retail level range from eliminating fixed rate tariffs as the default service for some or all customer groups to reinstituting utility-sponsored load management programs with market-based inducements to curtail. Alternative rate designs include time-of-use (TOU), day-ahead real-time pricing (RTP), critical peak pricing, and even pricing usage at real-time market balancing prices. Some Independent System Operators (ISOs) have implemented their own DR programs whereby load curtailment capabilities are treated as a system resource and are paid an equivalent value. The resulting load reductions from these tariffs and programs provide a variety of benefits, including limiting the ability of suppliers to increase spot and long-term market-clearing prices above competitive levels (Neenan et al., 2002; Boren stein, 2002; Ruff, 2002). Unfortunately, there is little information in the public domain to characterize and quantify how customers actually respond to these alternative dynamic pricing schemes. A few empirical studies of large customer RTP response have shown modest results for most customers, with a few very price-responsive customers providing most of the aggregate response (Herriges et al., 1993; Schwarz et al., 2002). However, these studies examined response to voluntary, two-part RTP programs implemented by utilities in states without Retail Competition.1 Furthermore, the researchers had limited information on customer characteristics so they were unable to identify the drivers to price response. In the absence of a compelling characterization of why customers join RTP programs and how they respond to prices, many initiatives to modernize Retail electricity rates seem to be stymied.
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renewable energy policy and electricity restructuring a california case study
Energy Policy, 1998Co-Authors: Ryan Wiser, Steven Pickle, Charles GoldmanAbstract:Abstract Many countries are in the process of deregulating and restructuring their electric power industries. Although the introduction of Retail Competition may have negative impacts on the development of renewable energy, a number of countries are establishing new programs to support these clean energy technologies. In the United States, debate has centered on three primary renewables support mechanisms: (1) the renewables portfolio standard; (2) programs funded by an electricity distribution surcharge; and (3) voluntary renewable energy purchases by electricity customers via green power marketing. California provides a good case study of the design of renewables support programs within industry restructuring because policymakers considered all three of these options during the state’s restructuring proceedings. Moreover, many of the same policy options, design issues, and political conflicts that have arisen in California are likely to recur in other states and countries. Some of the most important lessons from the California experience include: (1) renewable energy and environmental advocates must clearly articulate the need and rationale for continued support of renewables; (2) cost containment and competitive neutrality concerns must be addressed head on; (3) combinations of policies are likely to be far more effective than any single renewables policy; and (4) the effectiveness of renewable energy policies developed during the restructuring process will be strongly linked to their duration and stability.
Paul B Ellickson - One of the best experts on this subject based on the ideXlab platform.
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estimation of dynamic discrete choice models in continuous time with an application to Retail Competition
The Review of Economic Studies, 2016Co-Authors: Peter Arcidiacono, Patrick J Bayer, Jason R Blevins, Paul B EllicksonAbstract:This article develops a dynamic model of Retail Competition and uses it to study the impact of the expansion of a new national competitor on the structure of urban markets. In order to accommodate substantial heterogeneity (both observed and unobserved) across agents and markets, the article first develops a general framework for estimating and solving dynamic discrete choice models in continuous time that is computationally light and readily applicable to dynamic games. In the proposed framework, players face a standard dynamic discrete choice problem at decision times that occur stochastically. The resulting stochastic-sequential structure naturally admits the use of conditional choice probability methods for estimation and makes it possible to compute counterfactual simulations for relatively high-dimensional games. The model and method are applied to the Retail grocery industry, into which Walmart began rapidly expanding in the early 1990s, eventually attaining a dominant position. We find that Walmart's expansion into groceries came mostly at the expense of the large incumbent supermarket chains, rather than the single-store outlets that bore the brunt of its earlier conquest of the broader general merchandise sector. Instead, we find that independent grocers actually thrive when Walmart enters, leading to an overall reduction in market concentration. These competitive effects are strongest in larger markets and those into which Walmart expanded most rapidly, suggesting a diminishing role of scale and a greater emphasis on differentiation in this previously mature industry.
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estimation of dynamic discrete choice models in continuous time with an application to Retail Competition
The Review of Economic Studies, 2016Co-Authors: Peter Arcidiacono, Jason R Blevins, Patrick Bayer, Paul B EllicksonAbstract:This paper provides a method for estimating and solving dynamic discrete choice models in a continuous time framework that is computationally light. The method is particularly useful in dynamic games. In the proposed framework, players face a standard dynamic discrete choice problem at decision times that occur stochastically. The resulting stochastic-sequential structure naturally admits the use of CCP methods for estimation and makes it possible to compute counterfactual simulations for relatively high-dimensional games. We apply our techniques to examine the impact of Walmart’s entry into the Retail grocery industry, showing that even the threat of entry by Walmart has a substantial eect on market structure.
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estimation of dynamic discrete choice models in continuous time with an application to Retail Competition
National Bureau of Economic Research, 2012Co-Authors: Peter Arcidiacono, Patrick J Bayer, Jason R Blevins, Paul B EllicksonAbstract:This paper develops a dynamic model of Retail Competition and uses it to study the impact of the expansion of a new national competitor on the structure of urban markets. In order to accommodate substantial heterogeneity (both observed and unobserved) across agents and markets, the paper first develops a general framework for estimating and solving dynamic discrete choice models in continuous time that is computationally light and readily applicable to dynamic games. In the proposed framework, players face a standard dynamic discrete choice problem at decision times that occur stochastically. The resulting stochastic-sequential structure naturally admits the use of CCP methods for estimation and makes it possible to compute counterfactual simulations for relatively high-dimensional games. The model and method are applied to the Retail grocery industry, into which Wal-Mart began rapidly expanding in the early 1990s, eventually attaining a dominant position. We find that Wal-Mart’s expansion into groceries came mostly at the expense of the large incumbent supermarket chains, rather than the single-store outlets that bore the brunt of its earlier conquest of the broader general merchandise sector. Instead, we find that independent grocers actually thrive when Wal-Mart enters, leading to an overall reduction in market concentration. These competitive effects are strongest in larger markets and those into which Wal-Mart expanded most rapidly, suggesting a diminishing role of scale and a greater emphasis on differentiation in this previously mature industry.
