Market Model Research Articles

A tri-level model for optimal management of active distribution networks enabling two-layer local markets

The deregulation of distribution systems enable local energy trading under the umbrella of local market strategies, which are launched and cleared by local entities like distribution system operators. The emergence of active players connected to distribution networks such as microgrids path the way to two-layer market structures, within which different local markets must coexist and coordinate. This new paradigm advocates for developing new management and market models suitable for multi-level local markets. This paper focuses on this issue. In particular, a new management model for active distribution networks enabling two-layer local markets is developed, which casts as an original tri-level optimization approach. This paper applies the developed methodology to the case in which different microgrids connected to a distribution market launch local markets for energy trading within the microgrid, but it could be applied to similar frameworks such as energy communities or virtual power plants. The new approach stablishes a game-oriented market coordination which preserves the hierarchical feature of the coordinated market strategy. A case study on a 33-bus radial distribution network serves to validate the model and illustrates how active players such as distributed generators and flexible demands perform under local market rules. A number of scenarios are studied under different distributed generation and microgrid penetration, showing that incrementing the number of both leads to improve the economy of the distribution system operator and microgrids. Finally, a sensitivity analysis regarding the renewable generation potential is studied.

Older Adult's Opinion About Colorectal Cancer Screening based on Social Marketing Model

Older Adult's Opinion About Colorectal Cancer Screening based on Social Marketing Model

The EU’s Geopolitical Awakening Following the Russian Invasion of Ukraine: How the Commission Shifted from a Regulatory Market-Based Approach to a Geopolitical Approach in Its External Energy Policy

The Ukraine invasion has been a watershed moment in EU-Russia gas relations, which has resulted in a shift in the European Commission’s (EC’s) approach towards Russia and European energy policy. Whilst the EC has traditionally followed a rule-based market approach in its external energy relations with Russia, there appears to have been a shift from the prevailing liberal market model to a more strategic and geopolitical approach focused on energy security.Although the EC has sometimes displayed tendencies of a realist nature, these realist elements in its external action have been exacerbated following the invasion of Ukraine. This article engages in a theoretical debate between the conceptualizations of the EU as a liberal actor versus the perception of the EU as a realist actor. Whilst there is literature to support both views, the debate can be further developed after the war in Ukraine. Since the invasion, the EC appears to have undertaken a more robust and coherent stance towards Russia in its commitment to decouple European economies from Russian gas to ensure EU energy security. The change in objectives illustrate a shift in the EU’s energy policy from the liberal paradigm of markets to geopolitics, as the new dynamics of EU-Russia energy relations, following the invasion of Ukraine.

Modelling intervention: Barbara Bergmann’s micro-to-macro simulation projects

Over a period of 12 years, Barbara Bergmann developed several models of the labour market using microsimulation, eventually integrated in a “Transactions Model” of the entire US economy, built with Robert Bennett and published in 1986. The paper reconstructs the history of this modelling enterprise in the context of the debates on the micro-foundations of macroeconomics and the role of macroeconomic expertise from the 1970s to the late 1980s. It shows how her focus on the distributional effects of policies was central to the criticism of macroeconomic modelling and how both her epistemological and political positions were marginalised in the 1980s.

Analysis of the Economic Model of Influencer Marketing in Social Media: The Case of Douyin

Analysis of the Economic Model of Influencer Marketing in Social Media: The Case of Douyin

Regulation by enforcement: the impact of Securities and Exchange Commission enforcement actions on crypto valuation

Purpose This paper aims to examine the impact of enforcement actions by the US Securities and Exchange Commission (SEC) on the valuation of major crypto assets. Design/methodology/approach Given the recent increase in regulatory efforts to combat fraudulent activity within the market, the paper concentrates on the period from 2019 to 2023 and uses the event study approach. Findings The analysis reveals a negative and economically significant effect of SEC actions on crypto valuations, ranging from −0.7% to −1.4% over a three-day window surrounding the announcement of enforcement actions for the entire sample. Particularly, a pronounced negative reaction is observed from crypto investors to SEC enforcement actions in 2022 and those where individuals are charged. Originality/value The findings align with existing literature, even though the study uses more conservative methodological approaches and data selection criteria. Specifically, the author uses a market event study model, account for potential confounding events, and use initial news reports about investigations rather than official SEC communications as event dates.

Trading signals of the relative strength index and market valuation of State Treasury companies listed on the Warsaw Stock Exchange

Abstract Accurate forecasting of the level of volatility of financial instrument prices is important from the point of view of stock exchange investors. The aim of this paper is to measure the value relevance of transaction signals (buy/sell) by the relative strength index (RSI) in the case of State Treasury companies listed on the Warsaw Stock Exchange (WSE). The research covered the two hypotheses stating that stock buy (sell) transaction signals generated by the RSI indicator cause the occurrence of statistically significant positive (negative) abnormal returns (AR). These, in turn, support that RSI generates value-relevant signals, which are valuable investment tools and can be used to earn money on the stock exchanges. Based on the final research sample, including 75 buy signals and 88 sell signals, generated by the RSI indicator on the shares of State Treasury companies listed on WSE, an event study methodology was carried out. In 7-day event windows, calculations were made of AR, which is the difference between the realized and the expected return (estimated on the basis of the market model). The averaged ARs did not differ statistically significantly from zero on any of the tested days for both buy and sell signals. Therefore, research results do not indicate that share purchase (sell) transaction signals generated by the RSI indicator result in the occurrence of statistically significant positive (negative) average abnormal returns (AAR).

Evaluating and Analysing Digital Entrepreneurship: Innovation, Competitive Advantage, and Sustainability in the Modern Business Landscape

This review paper examines the transformative impact of digital entrepreneurship on the modern business landscape, focusing on its ability to drive innovation, provide competitive advantages, and contribute to economic growth. The study explores key components of successful digital enterprises, including digital literacy, creativity, and critical reasoning, while analyzing emerging trends such as artificial intelligence, digital marketing, and subscription-based models. Through case studies of successful companies like Shopify and Airbnb, the paper highlights how digital platforms disrupt traditional industries and enhance customer experiences. Despite the benefits, digital entrepreneurship faces challenges like high competition, data security concerns, and customer trust issues. The review concludes that, by embracing technological advancements and innovative strategies, digital enterprises can thrive, create value, and shape a sustainable and inclusive global economy.

Comparative Study of Domestic and International Art Museum Derivatives

With the continuous improvement of the national economy, the quality of cultural consumer groups generally improve, the museum as a place of convergence of cultural essence, through the derivatives produced by the arts is worth studying, this paper is mainly through the introduction of domestic art derivatives of the development and construction of art derivatives with foreign art derivatives to compare the different, view design thinking and marketing model, put forward some reflections and constructive thinking, especially in the era of consumerism. Derivatives with what kind of innovative ideas, art and culture and the public clever connection.

Anomalies and Multi-Factor Models in the Chinese Market

A stock market anomaly refers to the occurrence of excess returns in stocks that cannot be fully explained by traditional asset pricing models or the efficient market hypothesis. Studying these anomalies allows scholars to gain deeper insights into the stock market and provides investors with opportunities to capitalize on these irregularities for higher returns. In this paper, the size and value factors in the Chinese stock market are empirically tested for the period from January 2002 to December 2021, leading to several conclusions. First, the CH-3 model is found to be more suitable for the Chinese market compared to the FF-3 model. Additionally, the interpretation of anomalies using CH-3 differs from prior research, particularly regarding the CH-4 model, which incorporates a share turnover factor. These differences may stem from potential data mining effects.

Efficiency and transparency in the management of energy transactions of a smart grid

Smart grids are developing rapidly, offering significant benefits but also major challenges. Among the main issues are trust between network players, transparency of energy transactions and data confidentiality. To address this, it is crucial to create energy transaction systems that ensure transparency, trust, and minimization of energy losses, while preserving the confidentiality of the information exchanged. An in-depth study led to the design of an innovative architecture in 7 layers, including a specific layer for energy transfer in order to accurately monitor consumption in smart grids. The division of smart grids into geographical areas aims to optimize energy transmission and reduce losses. In this article, a smart contract-based mechanism was developed, deployed on an Ethereum testnet to manage financial and energy transactions, to ensure transparency and build trust. A decentralized application (Dapp) has also been created to facilitate the management of these transactions. This architecture has been validated by comparative simulations between our market model and the one based on the double auction mechanism. The results show that our system, using energy consumption tokens on the Ethereum Virtual Machine (EVM) of the Sepolia testnet, reduces transaction losses, stabilizes prices, and maintains a high level of satisfaction through transparent and reliable transaction management and consumption tracking.

Model of optimizing operating modes of autonomous power supply systems based on hydrogen technologies for the needs of the Arctic

The possibilities of implementing a “hydrogen transition” in the local energy sector of the Arctic are considered based on the application of the concepts of environmentally friendly technologies and socio-technological transit according to the criterion of profit maximization. The relevance of the work is due to the reform of the electric power industry, which implies a phased transition to a competitive market model, when each manufacturer will be interested in maximizing its own profit and independently determine the volume of production of electrical and thermal energy based on modern technologies. An analysis of foreign experience in creating autonomous hybrid power systems was carried out. The article discusses the possibilities of using hydrogen produced from natural gas in fuel cells in decentralized electricity and heat supply systems. The conditions for the competitiveness of the new technology in comparison with centralized systems and decentralized ones based on mini-CHP with gas turbine or gas piston engines have been determined. It has been shown that fuel cell systems using natural gas as fuel are not energy-saving technologies, but can reduce emissions of carbon dioxide and other pollutants into the environment. Massive use of fuel cells in decentralized energy supply systems is possible only if their cost is reduced to less than $100/kW.

Can the optimal fiscal policy counteract corporate tax evasion without harming job creation?

PurposeThis paper studies the relation between corporate tax evasion, job creation and optimal fiscal policy. Job creation depends on firms’ profits since firms open (“create”) new jobs when profits increase. In turn, firms’ profits depend on incentives (rewards) and disincentives (penalties) to comply with tax rules. Hence, any fiscal policy to combat tax evasion also has repercussions on job creation.Design/methodology/approachThis paper is both theoretical and empirical. From a theoretical point of view, a modified and extended version of the search and matching model of the labor market is used. In this framework, moreover, the welfare function of workers and firms is closely related to the job creation condition. Empirically, a panel analysis of a system of two simultaneous equations that covers 54 countries (both developed and developing) and four years (2018–2021) is carried out.FindingsThe paper finds that anti-tax evasion policies should be related to job creation policies. Also, anti-tax evasion and job creation policies change according to the extent of tax evasion in the economy. Precisely, when tax evasion is widespread, a lower tax burden (tax cuts or provision of fiscal rewards) requires tighter tax audits, whereas, where most people comply with tax rules, a decrease in tax audits is possible.Practical implicationsThe empirical analysis supports the model-generated theoretical relationships. Eventually, therefore, the optimal fiscal policy suggested by this work can counteract corporate tax evasion and, at the same time, reduce the firm’s tax burden, thus promoting job creation.Originality/valueAs far as we are aware, this is the first paper that considers the close and direct link between fiscal policy, corporate tax evasion and job creation.

Monte Carlo simulation of community microgrid operation: Business prospects in the Brazilian regulatory framework

Microgrids offer an innovative solution to modern energy challenges, providing enhanced reliability and resilience to distribution systems while accommodating the growing presence of distributed energy resources (DER). However, realizing the potential benefits of microgrids requires a comprehensive assessment of their complex technical and economic aspects. This paper introduces a dedicated techno-economic evaluation model for community microgrids (CMGs) while considering a consumer-centric internal market. Uncertainties arising from load variations and intermittent generation are addressed via Monte Carlo simulation (MCS). The proposed internal market model aligns with the Brazilian regulatory framework and enables currently unavailable innovations, such as a community internal market; however, the model can be adapted to the context of any system. We demonstrate the capabilities of the methodology by presenting a case study involving a real microgrid, where economic benefits are shared among all consumers. This study, derived from a research and development (R&D) project, underscores its practical relevance in advancing cleaner and more sustainable energy systems.

A Model of Integrated Marketing Communication for Community Products: “Chi-Hot” Parsley Balm of Klong Yong Sub-district, Nakhon Pathom, Thailand

Introduction: Herbal products are famous for their affordability, ease of production, and health benefits. People are more aware of their health. The biennial fragrant plant parsley has essential oils that can be used for various applications. It is extracted for inhaler balms under the brand “Chi-hot” (“Chi” is parsley in the Thai language). Purpose: This research aims to explore consumer behavior of herbal balm and develop an integrated marketing communication (IMC) model for selling parsley balm. Methods: This survey collects data by questionnaire from 256 consumers selected by convenient sampling method. Descriptive and inferential statistics analyzed the data. Findings: 78% of respondents have used herbal balm, and 48% purchase 1-2 times/month. The reasons for purchase are Price (38%), Brand(26%), and Quality (11%). IMC's model for selling parsley balm consists of Public Relations, Word-of-Mouth Marketing, Event Marketing, Advertising, Direct Marketing, Promotions, and Personal Selling. Implication: Parsley balm can be developed as a community herbal product to promote local wisdom and enhance local revenue. IMC's model of Public Relations, Word-of-Mouth Marketing, Event Marketing, Advertising, Direct Marketing, Promotions, and Personal Selling is effective for selling herbal products. Local manufacturers can employ this model easily with low investment.

Problems and Countermeasures of Enterprise Brand Marketing in the New Media Environment

With the continuous advancement of information technology, market competition has become increasingly intense. For enterprises, adhering strictly to traditional marketing models is unlikely to yield the desired results. Therefore, it is crucial for companies to focus on the application of new media, update their marketing strategies, and develop marketing models that align with their development needs. A brand can reflect a company's image to a certain extent, and an appropriate marketing plan can help build a positive image. This paper briefly introduces the impact of the new media environment on brand marketing, analyzes the problems existing in brand marketing of various enterprises under this environment, and proposes targeted countermeasures based on the demands of social development and the characteristics of enterprises. It provides theoretical support for conducting brand marketing in the new media context.

(Un)disclosed brand partnerships: How platform policies and interfaces shape commercial content for influencers

Social media platforms mediate and regulate how influencers engage in monetisation practices. In this social-legal paper we examine one form of monetisation, influencer marketing, to understand how platform policies and interfaces shape commercial content for influencers. We situate our inquiry of governance by platforms within the governance of platforms, by focusing on the legal obligation to disclose commercial content under European consumer law. Combining an analysis of platform documentation for Instagram, TikTok, Snap, and YouTube, with insights from a walkthrough of each platform, we present five findings. First, we explore the terminology used by platforms to refer to influencers. Second, we outline how platforms frame commercial content and situate business models of influencer marketing. Third, we analyse how platforms present the duty to disclose commercial content and assign responsibility for compliance. Fourth, we examine how platforms facilitate disclosure through their in-app tools. Finally, we look at the articulation regarding the moderation of undisclosed commercial content by platforms. Our analysis unveils tensions between the law (governance of platforms) and what platforms do (governance by platforms). Overall, as platforms hold significant power in shaping monetisation practices, we argue that enforcing influencers’ disclosure practices must be contextualised within the dynamics of platform governance.

Nutrition Marketing and Nutrient Profiling Models with Regard to Packaged Snack Foods: A Literature Review

Background: Snacking habits are changing towards healthier options as a result of growing consumer awareness, which is making nutrition and health important components of modern food culture. Nutrition-related claims may help consumers and desk job doers to make healthier choices. The food labels carrying nutritional information and health benefit of the product is very much revealing from a health point of view. Methods: This review is an attempt to document nutrition marketing with regard to packaged snack foods, nutrient profiling models for categorization of packaged snack foods and complacency of packaged snack foods with respect to nutrient claim and health claim. Results: Nutritional information available on products is helping consumers in making healthier choices along with products having any health or nutrition-related claims are fascinating consumers and are considered as a good marketing strategy for snack food manufactures. But, researchers pertaining to health and nutrition-related claims have documented an insignificant impact of these claims on consumer’s decision--making about purchasing packaged snack foods.

Market Reaction to Dividend Announcement during the Covid-19 Pandemic on the Indonesian Stock Exchange

This research uses Average Abnormal Return and Trading Volume Activity to test the market reaction around the dividend announcement date. Tests using these two parameters are expected to provide a more comprehensive description of market reactions. This research is quantitative research using secondary data. Even study method with a window period of 5 days before and 5 days after the dividend announcement date. Abnormal returns were calculated using a market model for 252 dividend announcement events on the Indonesia Stock Exchange in 2020. The sample was determined using purposive sampling technique and data analysis using the IBM SPSS Statistics 25.0 application. The research results show that there is a market reaction in terms of abnormal returns and differences in trading volume activity when cash dividends are announced during the Covid-19 pandemic. The announcement of an increase in the value of cash dividends and a decrease in the value of cash dividends during the pandemic caused a market reaction characterized by a significant positive average abnormal return. Meanwhile, for the announcement of the provision of dividends and the elimination of dividends, there were no significant average abnormal returns and no significant differences in trading volume activity.

Comparative Analysis of Market Clearing Mechanisms for Peer-to-Peer Energy Market Based on Double Auction

This paper aims to develop an optimisation-based price bid generation mechanism for the sellers and buyers in a double-auction-aided peer-to-peer (P2P) energy trading market. With consumers being prosumers through the continuous adoption of distributed energy resources, P2P energy trading models offer a paradigm shift in energy market operation. Thus, it is essential to develop market models and mechanisms that can maximise the incentives for participation in the P2P energy market. In this sense, the proposed approach focuses on maximising profit at the sellers, as well as maximising cost savings at the buyers. The bids generated from the proposed approach are integrated with three different market clearing mechanisms, and the corresponding market clearing prices are compared. A numerical analysis is performed on a real-life dataset from Ausgrid to demonstrate the bids generated from sellers/buyers, as well as the associated market clearing prices throughout different months of the year. It can be observed that the market clearing prices are lower when the solar generation is higher. The statistical analysis demonstrates that all three market clearing mechanisms can achieve a consistent market clearing price within a range of 5 cents/kWh for 50% of the time when trading takes place.