Number Of Potential Buyers Research Articles

Трансформация пространственной организации розничной торговли в Архангельске

The article compares the spatial organization of retail food trade in Arkhangelsk in 1988 and 2022 in order to identify the changes that have occurred in the post-Soviet period. Its transformation was facilitated by the closure of industrial enterprises, most of them were located in settlements in outskirts, a change in the solvency of residents, and a reduction in the number of potential buyers. The internal heterogenety of the conditions for the development of trade in different parts of the city, differences in the provision of retail outlets for residents, the prevailing trade formats that are typical for central and outlying areas are revealed. Compliance of the principle of equidistance of shops from residential buildings was checked. We also conducted a content analysis of customer reviews about various formats of retail outlets. We determined that in 2022 the number of stores in Arkhangelsk increased by 3 times compared to 1988. However, their distribution throughout the city is extremely heterogeneous. There is a clear competitive advantage of the central districts of the city (Oktyabrskiy, Lomonosovskiy), where the number of stores has increased by 4–5 times, over the outskirts, where the growth is less than 2 times (Maimaksanskiy, Isakogorskiy, Tsiglomenskiy districts). The most common form of trade organization in Arkhangelsk is a discount store, which is associated with the low solvency of the city population. Most of them belong to federal retailers. Their expansion in Arkhangelsk mainly affected the central districts and bedroom suburbs close to them. The least number of stores of federal and local retail chains has been opened in the outlying districts; there aren't any shops on the islands without bridges (Brevennik, Linskiy Priluk, Khabarka, Kegostrov). For outlying areas, the most common stores are those that do not belong to chain retailers, these are small pavilions and kiosks. Most customers’ reviews of such stores are negative and the overall rating of their work is lower than that of chain stores.

Inflation and Welfare in a Competitive Search Equilibrium with Asymmetric Information

AbstractWe study an economy characterized by competitive search and asymmetric information. Money is essential. Buyers decide their cash holdings after observing the contracts posted by firms and experience match‐specific preference shocks which remain unknown to sellers. Firms are allowed to post general contracts. In the baseline model with indivisible goods, we show that, when the number of potential buyers is fixed, inflation decreases markups. This, in turn, increases aggregate output and ex ante welfare. When goods are divisible the negative effect of inflation on markups holds for unconstrained agents but is ambiguous for constrained agents. Still, optimal monetary policy implies a positive nominal rate. When there is buyers' free entry, asymmetric information causes a congestion effect that can be corrected by monetary policy.

Insight into Market Supply and Demand of Private Forests in Croatia

Due to their modest 23% share, private forests in Croatia are a resource that is perceived as less important than state-owned forests. One of the basic characteristics of private forests is fragmentation, which is also the biggest obstacle to a successful and, economically speaking, sustainable management of private forests. The cases in which a private forest with its area and integrity can generate a sustainable economic income to its owner are not common. However, from an economic point of view, private forests still have one advantage. Unlike state-owned forests, private forests can be the subject of investment and change hands. Based on this, this paper investigates the supply of private forests on the free market. For private forests that were publicly put for sale in the period from 2010 to 2020, their spatial-temporal distribution and supply dynamics and trends (price and quantity) were analyzed. The data were collected from the leading real estate advertising platform in Croatia (Njuškalo.hr), and a total of 866 advertisements were analyzed, relating exclusively to the sale of raw wood material along with the accompanying forest land. On the other hand, in order to assess the demand, data were collected on the number of potential buyers who viewed the advertisements (period 2020-2021). In the observed ten-year period, a total of 1,890.63 ha of private forests with a total asking value of €32.14 million were offered on the market. The share of advertisements advertised through real estate agencies is 42.1%. The average total annual supply is 170 ha and has a growing trend (in the advertisements in the coastal part of Croatia, the average area is 1.3 ha, while the average area in the continental part is 3 ha). The prices are not constant but rising. According to compound interest, the price increase in the coastal area is 1.57% and 7.49% in the continental area. From the relationship between supply and demand or, more precisely, the relationship between price and the quantity, it was concluded that the market is not well developed and that the price is not affected by the supply/demand quantity of private forests. Furthermore, it was concluded that this market is developing in the direction of a typical real estate market in Croatia due to the fact that forest management and wood processing characteristics of forests do not define the price, but that the price is largely determined by a market with greater financial importance (the market in real estate near the Adriatic coast).

BA2P : Bidirectional and Anonymous Auction Protocol with Dispute-Freeness

Electronic auction is a popular platform to sell goods, task assignment, and resources’ allocation due to reductions of transaction costs and has attracted a huge number of potential buyers. However, it is challenging to address the disputes between the buyer and the auctioneer. The main reason is, on the one hand, solving such problem leverages to the broad domain of research aspects, such as economic theory, engineering, and cryptography, and, on the other hand, it is difficult to arbitrate in a decentralized and anonymous setting. In this work, we consider a more general framework to solve the potential disputes by enforcing bidirectional confirmation and public verification. Hence, the bidding procedure is clear to inspect and potential disputes can be erased. To achieve this goal, we propose policy-driven chameleon hash and revised linkable-and-redactable ring signature as building blocks. We used these two tools to build a bidirectional and anonymous auction protocol called BA 2 P. In our BA 2 P protocol, the bidders can competitively and anonymously place their bids to outbid others. At the end of the auction protocol, everyone can verify the validity of the bidding proof and decide the winner. Thus, dispute-freeness feature is achieved. The analysis suggests that our proposal is provably secure and practically efficient, and it trades some efficiencies with dispute-freeness feature.

The hold‐up problem in China's broiler industry: Empirical evidence from Jiangsu Province

AbstractUsing detailed survey data on broiler growers, we tested for the existence of hold‐up problems in the broiler industry in Jiangsu Province, China. We found that growers’ investments in chicken houses, which are assets with a high degree of physical and location specificity, increased along with the number of potential buyers (integrators) nearby. Such an effect was particularly strong in proximity to leading industry buyers. These results support the existence of hold‐ups in the Chinese broiler industry. However, we failed to find evidence that a longer‐term contract led to higher grower investments in chicken houses, possibly because of the lack of a minimum purchase guarantee in a typical contract. A key policy implication of this study is that subsidies to growers, from the government or buyers, can alleviate the underinvestment problem caused by hold‐ups.

Prospects of Agricultural Land Use Formation in the Conditions of Introduction of Agricultural Land Market in Ukraine

The evolution of agricultural land use development in Ukraine has been studied. The main factors influencing the land market on the formation of agricultural land use are identified, they include: the number of potential buyers (land users) and sellers, the expiration of the lease agreement, the structure of the land bank of the agricultural enterprise (lease, ownership), land consolidation based on land purchase and sale . The article, based on the example of Narizhanska village council of Poltava region, established that only 30 percent of landowners will be able to sell their land plots in the first 2 years due to the expiring lease agreement. The authors study the factors influencing the efficiency of agricultural land use in the land market, the main ones are: disruption of crop rotation, excessive agricultural development and plowing, low rents and competition of land users, a small number of small land uses with poor financial stability, destructive changes -climatic conditions, lack of effective tools for termination of lease agreements, lack, to a large extent, of information on territorial restrictions in the State Land Cadastre and more. The article proposes to make proposals to the regulatory framework in terms of the possibility of one-time termination or re-conclusion of lease agreements due to changes in significant conditions (turnover of agricultural land), which will intensify the sale process, increase investment attractiveness of agricultural land use by increasing the portfolio private property, land consolidation, simplification of the land exchange process, involvement of a larger share of credit and financial institutions in the formation of land use, as well as positively affect the welfare of landowners (shares) and more. The article proposes to ensure the formation of sustainable land use by improving the regulatory framework, ensuring an environmentally friendly structure of sown areas primarily through strengthening the role of landowners, increasing the share of small or medium agricultural land use.

Assessing Buyer Power in Syndicated Loans

Bu yazinin Turkce versiyonu surada bulunabilir: https://ssrn.com/abstract=3366192. The main purpose of this study is to examine the buyer power of the borrowers at the multilateral loan market including the syndicated and club loans. Although there has not been a formal definition yet for the buyer power concept in the antitrust economics literature, it may be described as the power that is exercised by the buyers on market transactions. In some markets, it is observed that not the sellers but the buyers may exercise their power on market prices and/or quantities. Corporate multilateral loan market is one of those markets, mostly because of the characteristics of the borrowers which are large and financially sound companies. In this study, the analysis done for the multilateral loan market are based on the assessment of the borrowers’ buyer power and the lenders’ market power. While on one side the competitive conditions in the market and market power of lenders have been elaborated, on the other side factors that determine the buyer power of borrowers have been assessed. The study also provides a specific analysis for Turkish companies in multilateral loan market and their buyer power. Through reviewing the relevant scientific literature and based on the data, the study put the following findings concerning the buyer power of borrowers in multilateral (syndicated/club) loans: • Company characteristics -such as, company size, publicly available information and domestic/foreign ownership- are the most important determinants for the choice of debt instruments. Companies and financial institutions may reach alternative borrowing tools based on their characteristics. • Credit quality of some large companies -called blue-chips- enable them to directly access to the international capital markets and gives them bargaining power over lenders in multilateral loan market. This proves the significance buyer power of such companies in multilateral loan market. • Our analysis for the Turkish borrowers in multilateral loan market shows that Turkish companies have considerable buyer power because of the following reasons: (1) In Turkey the demand side of the multilateral loan market is shallow and concentrated, (2) the number of potential buyers for multilateral loans have been stable, (3) Turkish companies may switch to other debt instruments in case of cost increases. Based on the above findings and facts, we argue that a proper competition analysis which assesses the multilateral loan market -including syndicated and club loans- should consider the buyer power of borrowers as a significant factor.

(Study of Consumer Behavior)

Bulgarian Abstract: Основна задача на маркетинга e изследване на характеристиките на потребителите и тяхното поведение. Необходимо е да се даде отговор на въпросите, свързани с поведението на потребителя преди, по време на и след покупката. Изследването на потребителското поведение има за цел да разкрие – как се взема решението за покупка, кой го взема, в резултат на въздействието на кои фактори се формира то и каква е реакцията на клиента. Стоките са с различна стойност и значение за потребителите, в резултат на което процесът на вземане на решение за покупка не е един и същ. Например съществува разлика в процеса на вземане на решение за покупка, ако обектите на покупка са холова гарнитура или прах за пране. „Колкото по-добре една организация се ориентира в това, как потребителите, реагират на различните характеристики на стоката, промяната в цената и рекламното въздействие, толкова по-голямо ще бъде нейното предимство пред конкурентите”. Настоящата статия разглежда изследването на потребителското поведение. Подробно са разгледани факторите, влияещи върху потребителското поведение. Особено място в този анализ е отделено на етапите на процеса на вземане на решение за покупка. Съществуват пет етапа в процеса на вземане на решение за покупка: откриване на проблема; търсене на информация; оценяване на алтернативите; решение за покупка; поведение след покупката. В по-голямата си част потребителското поведение е заучено. Потребителите се учат от своя предишен опит. Лоялността към определена марка е свързана с процеса на заучаването. Много от аспектите на поведението на организациите – купувачи се различават от поведението на потребителите. Някои ключови разлики са: характеристиката на търсенето, броят на потенциалните купувачи, целта на покупката, критериите за покупка, големината на поръчката, взаимодействието между продавач и купувач, както и влиянието на другите бизнес-организации. Стадиите при вземане на решение за покупка от организацията са същите, както тези при вземането на решение за покупка от потребителите. English Abstract: The main task of marketing is to study the characteristics of consumers and their behavior. It is necessary to answer questions about the behavior of the consumer before, during and after the purchase. Consumer behavior research aims to reveal – how a purchase decision is taken, who takes it, as a result of what factors it is formed and what the customer's reaction is. Goods are of different value and importance to consumers, as a result the decision-making process is not the same. For example, there is a difference in the purchasing decision process if the item of purchase is a piece of furniture or if it is a laundry powder. The better an organization focuses on how consumers respond to the different characteristics of the product, the change in price and the advertising impact, the greater will be its advantage over competitors. This article discusses and researches consumer behavior. The factors influencing consumer behavior are discussed in detail. A special place in this analysis is dedicated to the stages of the purchasing decision process. There are five stages in the decision-making process: finding the problem; search for information; assessing alternatives; purchase decision; post-purchase behavior. For the most part, consumer behavior has been learned. Users learn from their previous experience. Loyalty to a particular brand is related to the learning process. Many aspects of the behaviors of buyer organizations are different from consumer behavior. Some key differences are: the characteristics of the search, the number of potential buyers, the purpose of the purchase, the purchase criteria, the size of the order, the interaction between the seller and the buyer, as well as the influence of the other business organizations. The decision-making stages of the purchase by the organization are the same as those of users when making a purchase decision.

ИССЛЕДОВАНИЕ ДИНАМИКИ СПРОСА ИННОВАЦИОННОГО ТОВАРА В КОНТЕКСТЕ ТЕОРИИ РАСПРОСТРАНЕНИЯ ИНФОРМАЦИИ

The studies on the dynamics of demand for innovative products are at the junction of the diffusion theory, product life cycle theory, theory of information distribution and sales management. The paper deals with studies within the first two theories. It’s shown that the examined studies are essential for a better understanding of dissemination of innovations at the stage of its commercialization, but they don’t sufficiently take into account its features. Thereby, conceptual provisions of control over the commercialization of innovative products are proposed and substantiated. The selection of stages of innovative products realization according to submitting information to potential buyers underlies these provisions. At the first stage a potential buyer gets information about the innovative product either by the media or interpersonal communication. At the second stage a potential buyer evaluates a buying opportunity depending on his ability to pay. At the third stage a potential buyer decides to purchase a product which depends on his psychological type. At the fourth stage a potential buyer gets an innovative product. The methodological approach to forecasting the dynamics of innovative products implementation taking into account the stages of making a decision about the purchase by a potential buyer, caused by peculiarities of the commercialization of innovations, is proposed. The methodological approach to calculation of the market capacity (number of potential buyers) of an innovative product, depending on the dynamics of its price change and taking into account the stage of making a decision about the purchase by potential buyers, is offered. The method of determining the demand for innovative goods in accordance with information support of potential buyers is developed. The proposed methodological tools for forecasting the dynamics of demand for innovative products makes it possible to reduce an error of forecasting the dynamics of the innovative products sales volume and, consequently, reduce the costs associated with revaluation or underestimation of demand.

Tendencies of Small Business Development in the Russian Information Economy

The problem of small businesses products and services promotion with the using of new information technologies is considered in the article. The particular attention is paid to small businesses products and services promotion through social networks, especially on the Russian level. There is observation of the small businesses economic activities and social networks, which are preferable for a small business development. The basic ways of products and services promotion on social networks have been found out and there are given some recommendations on the most successful and rapid onset of the consumer audience attracting campaign. The proposed method of indicator calculation which shows the number of potential buyers will allow to calculate the approximate number of potential buyers for any business account in Instagram. DOI: 10.5901/mjss.2014.v5n24p336

Long-Range Forecasting for a Consumer Durable in an International Market

There has been a substantial amount of interest recently in long-range planning. One necessary component of the long-range plan Is the long-range forecast. In contrast to the emphasis on the planning process, however, little attention has been given to forecasting. This study considers the problem of long-range forecasting in a situation which is of growing importance - forecasting sales for international markets.Many researchers appear to operate under the impression that causal models (i.e., models based on an analysis of underlying factors) lead to more accurate sales forecasts than those provided by naive models (i.e., projections based on historical sales data only). A survey of the research literature led to the conclusion that this confidence in causal models is virtually unsupported. One can hardly criticize firms, then, for relying primarily upon naive models for sales forecasting since these models are simpler and less expensive than causal model.This study was based on the hypothesis that causal models are superior to naive models in certain situations. The key element of these situations is that -there are 'large changes.' Long-range sales forecasting usually involves such large changes; and there are many reasons to expect that long-range forecasting for international markets is a situation in which substantial changes will occur (e.g., the Kennedy round tariff cuts and the formation of common markets.)A causal model was developed to provide long-range forecasts of the international market for still cameras. This model provided unconditional forecasts of unit camera sales by country for year t n on the basis of l) knowledge about camera sales in year t and 2) predicted changes in four causal variables from year t to t n. These four causal variables included, in order of importance, per capita income, price of cameras, number of potential buyers and quality of cameras.The predictive ability of the causal model was superior to that of a naive model purporting to represent current practice. Each model was used to provide backcasts of 1954 camera sales in 17 countries on the basis of data from 1967 to 1960 only. The mean absolute percentage error for the causal model was 23% while that for the naive model was 43%. This result was statistically significant (0? = .05); but, more importantly, it appeared to have great practical significance. An evaluation, based on very conservative subjective estimates, indicated that such an improvement in accuracy would have a present value worth in excess of one percent of a typical firm's yearly sales volume.Further support for the use of the causal model was obtained by noting that the standard errors of the estimated relationships were low (evidence of reliability), that the estimates of causal relationships from different measurement models were in rather close agreement (evidence of construct validity), and that the causal model performed well in another situation where predictions were provided for I960-65 camera sales in 11 'new' countries (evidence of concurrent validity).The causal relationships were initially specified by a subjective analysis. Various parts of the causal model were then updated by use of a number of measurement models including an analysis of differences among sales rates for 30 countries, of differences among changes in the sales rates from 1961 to 1965 for 21 countries, and of differences among six income categories from United States household survey data. This updating led to a modest, though valuable, gain as the mean absolute percentage error of the 1954 backcast was reduced from 30% to the 23% mentioned above.Additional benefits associated with the development of the causal model included the ability to evaluate large changes in the market; to estimate current sales where trade and production figures are inadequate; to evaluate alternative assumptions about the future rapidly and cheaply; and to identify markets which have not been fully exploited.In summary, the study argues that the development of better long-range forecasting models is an important problem; describes the development of causal models; and demonstrates the superiority of causal models over naive models in a case involving long-range forecasting for international markets.

Is the division of labor limited by the extent of the market?: evidence from the chemical industry

In the age of outsourcing, it is easy to forget that outsourcing is simply one manifestation of the division of labor. Adam Smith's dictum that the division of labor is limited by the extent of the market has created difficulties when applied to a division of labor among firms (rather than within a firm). The problems are both for analytical attempts to formalize it and for empirical attempts to test it. Bresnahan and Gambardella show that the Smith--Stigler theorem holds when the extent of the market is defined in terms of the number of users instead of simply the total size of demand; therefore, division of labor is increasing in the number of users and decreasing in the average size of users. This article provides an empirical test of Bresnahan and Gambardella's theoretical argument, using data from the chemical industry. The chemical industry shows systematic variation across technologies and countries in the extent of the division of labor in plant design and engineering. We develop an empirical model in which large firms decide whether to build plants using in-house resources or to contract out, and small chemical firms also decide whether to invest in a plant. The number of specialized suppliers of plant design and engineering services (SEFs) vary with the demand for their services. The empirical results support the predictions of Bresnahan and Gambardella. We find that the number of SEFs increases when the market expands through an increase in the number of potential buyers but not when the market expansion is due to an increase in the average size of buyers. Moreover, an increase in the share of large-firm investment decreases small-firm investment, which decreases the number of SEFs. In turn, this further depresses small firm investment. Copyright 2009 The Author 2009. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved., Oxford University Press.

Is the Division of Labor limited by the Extent of the Market?: Evidence from Chemical Industry

Stigler (1951) formalized the Smithian notion that the division of labor is limited by the extent of the market. Bresnahan and Gambardella (1998) make an analytical distinction between two dimensions of market size - the breadth and depth of markets - in terms of the effects on the division of labor. They argue that broader, but not deeper, markets promote specialization and division of labor between firms. This paper develops an empirical specification of these ideas and tests it using data from the chemical plant construction industry. We develop a simple model of the make-buy decision regarding the engineering and construction of chemical plants. In an advance over the literature, we embed this model in a market equilibrium, and estimate the resulting structural model. Our results support the theory developed by Bresnahan and Gambardella that increases in the number of potential buyers (but not the average size of the buyer) encourages firm specialization and division of labor.

The introduction of the printed book auction catalogue

The introduction of the printed book auction catalogue

The Influence of Market Structure on Industry Advertising Intensity

IN recent years significant progress has been made in developing a theoretical model to explain inter-market differences in advertising intensity among consumer goods industries, and a number of empirical studies have been carried out which tend to support many of the hypotheses which have been advanced. Beginning with the pioneering work of Kaldor and Silverman [71, these studies have included the works of Else [14, Doyle [3], Greer [5], Cable [2], and Sutton [I3], among others. The explanation for inter-market differences in advertising intensity has generally been sought in characteristics of market structure, such as market concentration, the rate of growth in demand, market size, and the number of potential buyers, and in characteristics of the products, such as purchase frequency, unit price, product complexity, and the presence or absence of 'emotional' buying motives associated with the products. Regression models employing independent variables representing various combinations of these and other market and product characteristics have met with some degree of success. However, most of the aforementioned studies have utilized United Kingdom data on rather narrow product categories to test for the hypothesized relationships,1 while little empirical work has been done on these matters using American data.2 To remedy this deficiency and provide alternative tests, the present study draws together a number of previously developed and well-known hypotheses to construct a multiple regression model to explain inter-industry differences in advertising intensity. This model is then tested using U.S. data for a sample of 28 four-digit consumer goods industries. The independent variables employed in this study have been selected on the basis of theoretical considerations, previous results, and the pragmatic

Some Psychological Aspects of the Present Business and Stock Market Situation

M A ARKETS DIFFER FROM many other sources of personal experiences in the fact of variable market prices, resulting in profit or loss to traders, speculators, or investors. The function of price changes is to reflect past and present events and to discount probable future events, to the end that at all times there may seem to be an equal probability that the price will rise or that it will fall, based on the generally known elements of present and future economic value for the particular commodity. The outstanding feature of value and hence of market prices is thus variability. Those who, through superior knowledge of specific market influences and developments, are earliest to apply this knowledge correctly by purchasing or selling are likely to profit thereby. By the time any substantial number of potential buyers or sellers in the market are aware of some one or more specific developments relating to a particular situation, their actions have generally caused the price to commence discounting these developments. Later comers then, by their actions, generally carry the price up or down to the point where it ultimately overdiscounts the developments.

The Automobile Industry

QNE of the most obvious results of the prolonged depression has been the considerable increase in the proportion of old automobiles in use, reflecting the great amount of replacement buying which has been deferred. Since I929 less than 82 million new automobiles have been sold in the United States. At present there are approximately 22 million passenger cars and trucks in use in this country. Over I3 million, therefore, are four or more years old. Between 8 and 9 million are not less than five years old; while there are something like 5 million whose age exceeds six years. There is little doubt that many of these vehicles are nearing the end of their useful life and would be discarded if their owners could afford to replace them. In addition, more than 3 million apparently have passed out of use since I929 and have not been replaced. The industry thus finds itself in a position unique in its history a truly enormous potential replacement demand has been created and is being further augmented. The very conditions, however, which have brought this great potential demand into existence have placed obstacles in the way of its becoming largely effective in the immediate future. Severe shrinkage of incomes, unemployment on an unprecedented scale, and the consequent added burden upon many of those who continued to be employed these things have occasioned much of the deferred replacement of automobiles and will continue to do so while they persist. Doubtless some replacement buying was postponed by persons who had the necessary purchasing power but who were reluctant to use it in the face of the great uncertainty as to their future economic position. Increased employment, however, and considerable enhancement of income on the part of a great many people, are conditions precedent to making effective in a very large way the existing potentials replacement demand. Furthermore, the long continuance of the depression has caused a progressive shrinkage of that important portion of the nor-mal automobile buying power of the public represented by the trade-in value of used cars. As automobiles become older their resale value naturally decreases. In the case of a large number of potential buyers this resale value has now fallen to quite insignificant proportions, and this shrinkage will have to be offset by the expenditure of more cash than otherwise would be required, if these cars are to be replaced by new ones. In another respect, also, the length and severity of the depression will tend to retard replacement buying. In depressions of short duration, even when they are severe, a considerable reserve of buying power may be expected to continue in existence and to aid in the early stages of the following business revival. But after four years of depression, with drastic and long continued unemployment, such reserves must be greatly depleted in the aggregate and completely exhausted in a multitude of individual cases. Last year, under the impact of increased confidence in the general business situation and lessened confidence in the dollar, some of the then remaining reserves apparently were used for automobile buying, probably accounting in part for this industry's revival in I933, but also lessening the likelihood of further similar stimulation in I934. In addition, increased taxes and license fees have made the ownership and operation of automobiles more