Market Model Research Articles

The impact of coronavirus disease 2019 (COVID-19) pandemic experiences on attitudes towards vaccinations: on the social, cultural and political determinants of preferred vaccination organization models in Poland

BackgroundThe article describes attitudes towards vaccinations in Poland in relation to issues such as voluntary versus compulsory vaccinations, the method of financing vaccinations, the method of organizing and carrying out vaccinations, the cognitive and educational aspect of vaccines (how to obtain knowledge about vaccines) and the preferred model of work and research on new vaccines. Taking into account these issues, the authors have created four ideal models of preferred vaccination policies: (a) the market model; (b) the state model; (c) the vaccine hesitancy model; and (d) the civic–social model. This perspective makes it possible to better understand and learn about the various motives behind the attitudes of anti-vaccination movements, as well as to notice cracks and divisions among vaccination supporters and their attitudes towards the financing and organization of vaccinations.MethodsThe study was carried out using the CATI method on a representative random-quota sample of Polish society of 1000 people aged 18 and over. The study took age, sex, education and the size of the place of residence into account.Additionally, in the Socio-demographic factors influencing attitudes towards vaccination practices in Poland section, we used the chi-squared test and regression analysis of factors influencing vaccination practices in Poland. PASW Statistics 18 (a version of SPSS) software was used for statistical analysis. Significant correlations were demonstrated at a significance level of 0.05% Pearson.ResultsThis article has shown that attitudes towards vaccinations are embedded in broader divisions and orientations related to the vision of the social order: the role of the state, the organization of healthcare and payments for vaccinations and medical services, as well as preferred ways of knowledge production in society and work on new vaccines. The political sympathies and the age of the respondents were the most important variables influencing vaccination behaviour. The education of the respondents was less important.ConclusionsA few years after the peak of the pandemic, the scope of anti-vaccination attitudes in Polish society ranges from 20% of the population (dogmatic anti-vaxxers) to 30% (vaccine hesitancy occurring depending on attitudes towards vaccinations).

The GAI marketing model: A conceptual framework and future research directions

This research introduces the GAI Marketing Model, a comprehensive conceptual framework for understanding and applying generative artificial intelligence (GAI) within marketing, specifically in the hospitality and tourism sectors. Building on existing classifications of GAI, this model incorporates critical elements such as adoption factors, marketing stages, and downstream outcomes. The framework offers a structured approach to exploring GAI’s potential to transform marketing strategies by enhancing personalization, improving customer engagement, and optimizing decision-making processes. The GAI Marketing Model synthesizes elements of technology, marketing theory, and consumer psychology, offering crucial insights that are instrumental for researchers and practitioners seeking to harness GAI for competitive advantage. Additionally, the model underscores the importance of ethical considerations and regulatory compliance, thereby ensuring that the integration of GAI into marketing practices remains both efficacious and responsible. This study establishes a foundational framework for future research, emphasizing the interdisciplinary scope of GAI’s influence on marketing strategies and practices

Unveiling the Complexities of the Agricultural Marketing System in India: A Crucial Step Towards an Efficient Marketing System

Background: The process of marketing agricultural produce is a labyrinth of complexities. Indian farmers encounter numerous challenges in their quest for a fair price for their produce. The need for a robust marketing system to reward their efforts is not just pressing but urgent. This study was undertaken to identify the challenges various agriculture marketing models face in the region and propose a new, more efficient model. Methods: The present study is explorative research in nature and primary data is collected from 1086 farmers, 11 APMCs, 25 FPCs, 2 retailers and 10 farmers’ markets in the Pune district. Result: This study unveiled the challenges faced by farmers in adopting non-conventional marketing models. However, these challenges can be overcome with the right encouragement and training. The study’s findings confirmed that combining conventional and non-conventional marketing models can empower farmers in the evolving landscape. They also presented an opportunity to understand the emerging challenges in Indian agriculture and offer a promising path toward doubling farmers’ income in India.

Statistical Identification of Independent Shocks with Kernel-based Maximum Likelihood Estimation and an Application to the Global Crude Oil Market

Independent component analysis has emerged as a promising approach for revealing structural relationships in multivariate dynamic systems, particularly in scenarios with limited knowledge of causal patterns. This article introduces a robust kernel-based maximum likelihood (KML) estimation method that accommodates the distributional characteristics of the structural sources of data variation. Our Monte Carlo study demonstrates the superior performance of the KML estimator compared to existing approaches for independence-based identification. Moreover, the proposed method enables partial identification and dimension reduction even in the presence of dependent shocks. We illustrate the benefits of our approach by applying it to the global oil market model of Kilian, highlighting its ability to capture unmodeled higher-order dependence between oil supply and speculative oil demand shocks.

Iterative coupling of a fundamental electricity market model and an agent-based simulation model to reduce the efficiency gap

Fundamental optimization models can determine normative cost-optimal systems following theoretical assumptions of markets with perfect competition and perfect foresight. However, in real markets, deviations from ideal assumptions need to be considered for designing efficient policies: they may lead to higher costs than theoretically expected and contribute to the so-called “efficiency gap”. Agent-based simulation models can consider market inefficiencies but are not ideally suited for determining normative systems. This work aims to reduce the efficiency gap between theoretically cost-optimal system configurations and their implementations in non-perfect markets by coupling a fundamental electricity market model and an agent-based model. A fully automated iterative coupling is demonstrated, and its convergence behavior is investigated for two coupling parameters. Fast convergence is observed when integrating peak capacity usage from the previous agent-based simulation into the fundamental model. However, the efficiency gap is reduced only to limited extent as no information on hourly dispatch is transferred between the models. Conversely, when using hourly storage dispatch as coupling parameter, it takes longer to achieve convergence. In return, the efficiency gap is reduced to larger extent. The proposed iterative coupling thus allows the identification of realizable cost-optimal systems, which means that they are achievable under non-perfect market conditions.

On Properties of the Hyperbolic Distribution

This paper is set to analytically describe properties of the hyperbolic distribution. This law, along with the variance-gamma distribution, is one of the most popular normal mean–variance mixtures from the point of view of various applications. We have found closed form expressions for the cumulative distribution and partial-moment-generating functions of the hyperbolic distribution. The obtained formulas use the values of the Humbert confluent hypergeometric and Whittaker special functions. The results are applied to the problem of European option pricing in the related Lévy model of financial market. The research demonstrates that the discussed normal mean–variance mixture is analytically tractable.

Promotion of Self-employment: Manager Justifications for Online Labor Platform Operations

The emergence of online labor platforms (OLPs) has raised concerns about the treatment of platform workers and the legality of OLPs’ contractual relations and control. This study examines how managers (CEOs/founders) justify OLPs’ contractual relations and market control within the frames of critical platform work discussions and the Finnish labor market model. By using justification theory and market control classification as analytical tools, this qualitative study reveals that managers justify OLPs’ control and contractual relations by referring to critical discussions and features of Finnish labor market model. In justifications, managers either adopt the normative features of the model or criticize the societal neglect of self-employed workers. The model’s emphasis on full-time employment and legal questions around the platform economy seems to challenge the legitimacy of all OLP companies on some level. Despite OLPs’ operational differences, all managers justify OLPs with the idea of promoting self-employment within the Finnishlabor market.

Improvement and Analysis of Peak Shift Demand Response Scenarios of Industrial Consumers Using an Electricity Market Model

Electricity procurement of industrial consumers is becoming more and more complicated, involving a combination of various procurement methods due to electricity liberalization and decarbonization trends. This study analyzed and improved power procurement strategies for a factory to achieve carbon neutralization through a multi-agent model simulating the electricity market and introduced a factory agent using various procurement methods including PV, FC, storage batteries (SB), and DR. Firstly, we created a new procurement strategy utilizing all methods. Then, by using the simulation model, we assessed the effectiveness of the existing peak shift DR scenarios in terms of cost reduction efficiency. Results revealed that the introduction of PV has led to a counterproductive outcome for DR. Based on the results, we proposed two methods to improve the effectiveness of DR, namely considering the operation of PV in the DR scenario and expanding the range of optional time periods for DR activation. Finally, we made three new DR scenarios based on our proposal. Through experiment, the new scenarios were confirmed to be effective in cost-effectiveness for decarbonization.

Collective vision-making practice: A long-run dynamic process model for geothermal market transitioning

Michael Porter’s work on competition highlights how firms can become stagnant or ‘stuck.’ This study extends that concept to markets or fields of institutional activity, examining what occurs when an entire market becomes 'stuck.' Focusing on the geothermal energy market, the research investigates achieving long-term collective action by cultivating a shared vision and mutual understanding among stakeholders with diverse interests. The study employs a longitudinal ethnographic approach, presenting a long-run dynamic process model of collective vision-making practice. This model consists of six first-order dimensions and twelve second-order interactive behavioural practice, illustrating how stakeholders can collaboratively construct and enfold a long-term collective vision. The findings demonstrate the institutional capacity to engage stakeholders and strategically consider whole market possibilities, enabling the creation of a broadly defined collective vision. The research advances a dynamic process model that emphasises sustained institutional interactional practice. The study’s implications are to motivate thought leaders and policymakers, prompting two strategic questions: First, “How can market actors collaborate to unlock value co-creation and shape the future of a ‘stuck’ market?” This involves engaging diverse stakeholder perspectives and exploring future market-making opportunities. Second, “How can all market actors pivot in harmony with a collective vision, fostering long-term shared understandings and commitments in pursuit of market-making efforts?”, This alignment is important for progressing from research and development to the successful implementation of pilot projects and the realisation of sustainable market opportunities.

Analyzing the market and financial impacts of the State Bank of India’s Merger: A comprehensive Event Study

This article presents detailed information about the event study that analyzed the market and financial impacts of the State Bank of India’s (SBI) merger. The merger of the SBI with its associate banks plays a significant role in the banking sector. The main aim of this study is to estimate the abnormal return and cumulative abnormal return test the significance of the shares of the SBI and also examine the impact of the merger of the SBI using Event study methodology. The market model is to be used in this study. The researcher has used the Wilcoxon Signed Ranked test for the event study to test the significance. The study reveals no significant difference in abnormal return of the SBI-merger during the pre and post-window periods. By applying the market model, a linear relationship between a stock return and market return be assumed. The findings of the study indicate that there is no significant relation between the pre and post-event windows in the abnormal returns. This suggests the market has already anticipated the effects of the merger. Moreover, the research will analyse the broader implications of the merger such as profitability, asset quality, and operational efficiency. The study contributes to the ongoing disclosure of the effectiveness of mergers in the banking sector and provides valuable insights for policymakers and investors.

Market and entrepreneurial orientations model to increase product innovation of culinary micro small medium enterprises in Indonesia

The objective of the article is to examine how market orientation and entrepreneurial orientation within an organization might bolster product innovation capabilities. By exploring these connections, the research aims to present a more comprehensive understanding of the research model and bridge existing limitations. This study employed a quantitative associative with a proportional-clustered-random-sampling technique. Data were collected through a questionnaire survey involving 400 respondents representing micro, small, and medium enterprises (MSMEs) and used structural equation modeling (SEM) to test hypotheses. The results indicated a significant impact of market and entrepreneurial orientations on product innovation with market orientation having a more dominant effect on product innovation than entrepreneurial orientation. A strong market orientation shows business players can absorb market knowledge for product innovation. Thus, MSME owners must swiftly digest this market information to plan future product developments, especially since some product types change rapidly during the product life cycle. The findings also show that the entrepreneurial approach has a poorer influence on product creation in MSMEs due to the necessity for competencies and risk-taking that the organization lacks. The Ministry of Cooperatives and MSME can use this input to design targeted programs to help MSME owners and creativity and invention to make distinctive things while being highly impacted by market demands. With its findings, the study augments our understanding of the product innovation position in Indonesian MSMEs and, illuminates MSMEs owners' next steps to sustain the competitiveness and operationalization of their businesses.

Guest editorial: Paving the way for the SDGs implementations: new consumption and marketing models in post-pandemic context

Guest editorial: Paving the way for the SDGs implementations: new consumption and marketing models in post-pandemic context

MARKETING RESEARCH OF ENVIRONMENTAL CULTURE POPULATION OF IZHEVSK

The article presents the results of a marketing study of the environmental culture and behavior of the population of the city of Izhevsk in 2023. The goals and objectives, the population under study, the size and structure of the sample, and the analysis tools are defined. An assessment of the actual sample obtained was given, on the basis of which a database was formed and an assessment of environmental culture and behavior was carried out. This study was initiated by the author of the article with the aim of testing a previously developed marketing model for assessing the level of environmental culture and behavior of the population “cognition-feeling-action”. The study became necessary to substantiate a number of provisions in the field of: environmental management and management against the backdrop of growing environmental problems in Russia and its regions; systematization of ideas about corporate social responsibility from the standpoint of justifying the rationality of its application; formation of marketing methodology for studying environmental culture and behavior of the population. Based on the results of a mass sample survey, a general and segment-by-segment assessment of the environmental culture and behavior of the population of Izhevsk in 2023 was given. The survey made it possible to record a number of indicators of the cognitive, affective and behavioral reaction of the population in the environmental sphere in general and by segment: “young” population (18 -44 years old); “middle-aged” population (45-59 years old), “elderly” people (over 60 years old). The structure of knowledge of environmental projects and programs, public and state bodies/institutions responsible for the state of the environment in the city of Izhevsk and Udmurtia has been studied. An assessment of the environmental situation in the city of Izhevsk by segment was recorded, and differentiation of people’s opinions regarding the consequences of environmental deterioration and the relevance of environmental problems was noted. An indirect study of the behavioral attitudes of a “responsible citizen” made it possible to assess the norms of behavior of the population and their readiness to act. Based on people's opinions, a rating of the relevance of measures to improve the environmental situation in the city of Izhevsk and the Urals was formed. As a result, an assessment of ecological culture is given by segments in the “cognition-feeling-action” model and illustrated graphically.

Advancements in Marketing Education: The Evolution of the API Model through Iterative Feedback

This study examines the iterative development and testing of the API marketing model initially created in 2019. The model was tested with 188 participants from 2019 to 2022, leading to revisions based on feedback, particularly addressing issues of complexity and visual clarity. A revised version, tested with 142 participants from 2022 to 2024, demonstrated improvements in clarity, simplicity, and overall effectiveness. Key advantages of the API model include its ability to integrate strategic and tactical marketing elements through visual presentation, while its primary limitation remains the complexity of the material. Collaboration with participants proved valuable in refining the model and enhancing its functionality and user engagement. Despite these improvements, future research must address the model's limitations, including its complexity and adaptability across different educational contexts. This study contributes to marketing education by presenting the API model that effectively supplements traditional teaching techniques and enhances learning outcomes, with implications for educators and practitioners in marketing management.

The Impact of Participation Ratio and Bidding Strategies on New Energy’s Involvement in Electricity Spot Market Trading under Marketization Trends—An Empirical Analysis Based on Henan Province, China

As new-energy electricity increasingly enters the post-subsidy era, traditional fixed feed-in tariffs and guaranteed purchase policies are not conducive to the optimal allocation of large-scale, high-proportion new-energy power due to the high pressure of subsidy funds and the fairness issues of power-generation grid connection. Encouraging new energy to participate in electricity market transactions is considered an effective solution. However, existing studies have presupposed the adverse effects of new energy in proposing market mechanism optimization designs for new-energy participation without quantitative results to support this, which is not conducive to a true assessment of the comprehensive impact of individual instances of new-energy participation in the market. To this end, this study, based on the actual experience and data cases of China’s electricity spot market pilot provinces, considers both unit commitment and economic dispatch in the electricity distribution process, and constructs a two-stage optimization model for electricity spot market clearing. According to the differences in grid connection time and the construction costs of new-energy power, differentiated proportions of new-energy participation in the market and bidding strategies are set. By analyzing the quantitative results of new energy participating in spot market transactions under multiple scenarios, using both typical daily data for normal loads and peak loads, the study provides theoretical support and a data basis for the optimized design of market mechanisms. The research results show that there is a non-linear relationship between the scale of new energy entering the market and its bidding strategies and market-clearing electricity prices. In the transition phase of the low-carbon transformation of the power sector, the impacts of thermal power technology with a certain generation capacity and changes in the relationship between power supply and demand on electricity prices are significant. From the perspective of the individual interests of new-energy providers, the analysis of their bidding strategies in the market is important.

How to construct monthly VAR proxies based on daily surprises in futures markets

It is common in applied work to estimate responses of macroeconomic aggregates to news shocks derived from surprise changes in daily futures prices around the date of policy announcements. This requires mapping the daily surprises into a monthly shock that may be used as an external instrument in a monthly VAR model or local projection. The standard approach has been to sum these daily surprises over the course of a given month when constructing the monthly proxy variable, ignoring the accounting relationship between daily and average monthly price data. In this paper, I discuss an alternative approach to constructing monthly proxies from daily surprises that takes account of this link and revisit the question of how to use OPEC announcements to identify news shocks in VAR models of the global oil market. The proposed approach calls into question the interpretation of the identified shock as oil supply news and implies quantitatively and qualitatively different estimates of the macroeconomic impact of OPEC announcements.

Innovative Research on Enterprise Marketing Strategies under the Background of New Media

Marketing is one of the comprehensive development strategies for production-oriented and service-oriented enterprises, and it is also an effective path to increase income and revenue for enterprises. By operating and selling the main products, services, cultural concepts, and many more of the enterprise in a market-oriented manner. We aim to deepen the impression of the enterprise among consumers, enhance its market influence, and seek more opportunities for cooperation and development for the enterprise. However, with increasingly fierce market competition, traditional marketing models are no longer able to maximize their effectiveness. This article firstly analyzes the positive impact of new media background on enterprise marketing in expanding the scope of information release, improving marketing targeting, and creating new marketing platforms. Secondly, it explores the problems faced by enterprises in the current marketing process, such as outdated ideological concepts, insufficient team building, and rigid marketing content. Finally, strategies such as updating marketing concepts, strengthening team building, and innovating marketing content were proposed to provide some reference and inspiration for enterprises to smoothly promote marketing work under the background of new media.

A postgrad marketing journey: How University of Limerick created and implemented its first university-wide postgraduate marketing campaign

The Stay Curious campaign for postgraduate studies at the University of Limerick, Ireland is one of the most successful campaigns that the institution has ever had, not just in terms of student recognition and brand recall, but more importantly, in the sense of ownership it has given the campus community. The strength of the campaign has resulted in consistent messaging and narratives across postgraduate marketing as the university continues to implement a devolved model of marketing and communications. The key has been anchoring the campaign in extensive research to achieve mass buy-in and making it as easy as possible for the wider university to get on board — creatively and collaboratively. While they are not without their challenges, this paper should illustrate that devolved models of university marketing and communications can work if there is a strong overarching campaign that key units can get behind. This paper argues that maximising the expertise in-house and maintaining an institutional focus rather than a departmental one can yield positive results.

A comparison of factor models in China

We evaluate the performance of eleven asset pricing models in the Chinese A-share market using a variety of test portfolios and statistical methodologies. To compile the test portfolios, we construct 105 anomalies and use the 23 significant anomalies as test assets for model comparison. The results indicate that, in time-series test and anomaly explanations, the Hou et al. (2019) five-factor q model demonstrates the best overall performance. The pairwise cross-sectional R2 tests and multiple model comparison tests further affirm that the Hou et al. (2019) five-factor q model, the Fama and French (2018) six-factor (FF6) model, and the Kelly et al. (2019) five-factor Instrumented Principal Component Analysis (IPCA5) model are the top performers. Notably, the performance of the five-factor q model remains robust across various experimental designs.

The Application of Asset Pricing Models in the Capital Market

With the development of China's financial and capital markets, more and more investors will choose to use different asset pricing models to analyze the effectiveness of their investments. Under the background of efficient markets hypothesis (EMH), this paper will use Fama-French three-factor model, GARCH family model and Heston model to analyze the validity and feasibility of these three commonly used models in Chinese market. Through empirical analysis, descriptive statistics and other research methods, it is found that all three models are effective but have certain limitations. It is found that the Fama-French three-factor model is too dependent on the market. The establishment of the GRACH family model is too complicated due to too many influencing factors in the market; and the time lag of the Heston model. All three models require investors to include more model analysis to get the optimal investment strategy. Therefore, this paper draws the definition of behavioral finance at the end of the paper, according to which investors' decisions can be further analyzed.