Selling Mechanism Research Articles

Robustly Optimal Mechanisms for Selling Multiple Goods

Abstract We study robustly optimal mechanisms for selling multiple items. The seller maximizes revenue against a worst-case distribution of a buyer’s valuations within a set of distributions, called an “ambiguity” set. We identify the exact forms of robustly optimal selling mechanisms and the worst-case distributions when the ambiguity set satisfies various moment conditions on the values of subsets of goods. The analysis reveals general properties of the ambiguity set that justifies categorical bundling, which includes separate sales and pure bundling as special cases.

A study of the impact of short selling mechanism on the stock price collapse risk

Drawing from an extensive review of existing literature, this study investigates the influence of the short selling mechanism (SSM) on x through both theoretical and empirical lenses. It further assesses whether this mechanism can effectively mitigate stock price collapse risk (SPCR). The findings reveal that the SSM has a significant moderating effect on stock price declines, with stability tests for alternative factors affirming the robustness of these results. The study then narrows its focus to listed companies in China, examining the role of the SSM in this specific context. Results indicate that the SSM enhances the information content of stocks, thereby reducing the risk of stock market crashes. Using regression analysis and a mediating role model, the paper empirically explores the relationship between the SSM and SPCR. The conclusions suggest that the SSM can partially reduce the risk of stock market crashes by increasing the information content of stock prices.

Trade-off Anak Adat Status as a High-cost of Political Transaction in Papua Local Elections

Currently, the political transaction through trade-off anak adat (customary child) status is wider applied in Papua local election. Benefiting from the direct elections, the elites competed for political power in the regions by mobilizing ethno-religious sentiments and utilizing money-politics. The voters, in return, behave as clients as they seek to gain material benefits from their preferred candidates in exchange for political loyalty. This condition caused the high-cost politics during the local election. Based on this problem, this paper attempts to analyze the hijacking of adat (customs) through trade-off anak adat status as a form of political transaction which impacted to high-cost politics. This study cultivates the theory of political transactions to analyze the political transaction in Papua local election especially in the gubernatorial election 2018 and election of DPRD (Regional Representative Council)’s member in 2019. This form of political transaction has caused the high-cost of local election in Papua, which is not only in the form of money, but also carried the social cultural high-cost impact. Of course, vote buying will make the candidates have to spend a lot of money. The trade-off of anak adat status from other than Papuan through buying and selling mechanism rather than using achievement and acknowledgement from the adat community would harm the Papuans. Moreover, this practice has brought detrimental destruction to the socio-cultural values of Papuan adat community. This study is qualitative research that use political approach to observe the local election processes in Papua. We used the criteria of credibility and confirmability to validate the data in our qualitative research.

Winning Seats: Contingency Selling in Markets with Limited Capacity and Diverse Preferences

This paper examines an emerging pricing model, contingency selling, for markets where the product is sold in advance with attribute uncertainty and capacity constraint. A typical example is tournament ticket sales for sports events where it is uncertain whether a particular team will appear in the game. The model enables the firm to sell tickets in a contingent fashion, i.e., some tickets will be valid only if a certain team gets into the game. When consumers (fans) have sufficiently different preferences for different products (games with different teams), selling these “contingent tickets” better matches the price with the willingness-to-pay of particular consumer segments (fans of specific teams). Exploiting state-based price discrimination and belief heterogeneity, contingent tickets generate a higher margin per seat than the traditional way of selling general tickets, especially when there are supply constraints. We further show that contingency selling continues to be advantageous in the presence of secondary markets where consumers purchase tickets in advance but can trade tickets once they know which team will be in the game. We extend our model to examine the impacts of consumer optimism bias and fan base asymmetry. Finally, we compare contingency selling with alternative selling mechanisms to demonstrate the robustness of our results and illustrate the situations where this new selling model is more (or less) advantageous.

The Power of Simple Menus in Robust Selling Mechanisms

The Power of Simple Menus in Robust Selling Mechanisms

Optimal Mechanism Design with Referral

This paper establishes the optimal selling mechanism when a seller can incentivize an existing buyer to refer his privately known potential buyer to participate. We identify three optimal channels for providing referral incentives. First, if the existing buyer declares that no potential buyer exists, his virtual value is penalized. Second, if the existing buyer refers the potential buyer to the seller, his virtual value is boosted. Third, in some scenarios where this carrots-and-sticks-via-virtual-value approach is insufficient for creating proper referral incentives, the existing buyer is then given a constant referral bonus for referring the potential buyer. We also provide conditions under which the optimal mechanism can be implemented using simple mechanisms. Finally, we demonstrate that the conventional resale mechanism is suboptimal. This paper was accepted by Itai Ashlagi, revenue management and market analytics. Funding: H. Zhou’s research is supported by the Chenguang Program of Shanghai Education Development Foundation and Shanghai Municipal Education Commission [Grant 22CGA77]. Supplemental Material: The online appendix is available at https://doi.org/10.1287/mnsc.2023.01540 .

Sistem Cash on Delivery (COD) dalam Jual Beli Online Menurut Perspektif Ekonomi Islam

Online buying and selling are transactions carried out by parties using the internet network. The payment method that is often used today is the COD system. The aim of this research is to find out and explain the mechanism of the Cash On Delivery (COD) system in online buying and selling according to an Islamic economic perspective. In this research the researcher used a library research method with descriptive qualitative analysis using a deductive method regarding the cash on delivery (COD) system and analyzed using an Islamic economics approach. The results of this research include the following: 1) the online buying and selling mechanism with the COD system in the marketplace can be implemented by selecting the goods first and then payment is made in cash when the goods arrive. To purchase products, you can order them via the website or application. 2) (2) Based on the analysis of online buying and selling using the COD system carried out by the marketplace, it is in accordance with Islamic economic principles, such as aspects of justice, transparency and compliance. So online buying and selling using the COD system is permitted from a Sharia Economic perspective.

How do Capital Market Pressures Affect Pay Structures? Evidence Based on Short Selling and Firms’ Internal Pay Gaps

This paper examines the relationship between short selling and internal pay gaps of listed companies, and explores how short selling affects the company's pay structure. To this end, this paper utilizes the data of Chinese A-share listed companies from 2008 to 2022, and adopts the staggered-DID method, and finds that short selling significantly increases the internal pay gaps of firms subject to the short selling mechanism, but gaps are instead narrowed in SOEs and technology-intensive firms. The mechanism analysis suggests that short selling widens pay gaps by increasing the demand for highly educated managers and their compensation for job risk. The result of this paper provides a new perspective for understanding the socio-economic effects of capital market policies, as well as a rationale for formulating fair and reasonable pay policies.

E-Commerce: The Mechanism of Flash Sale on Perspective Indonesia’s Positive Law and Sharia Economic Law

Technological developments provide easier access to marketing and buying and selling to the public. This opportunity is also used as widely as possible to market products with various online marketing strategies, one of which is flash sales. Flash sales became popular and became a buying and selling mechanism that was widely applied by online merchants. However, this leaves a question mark about the law of the flash running mechanism both in terms of Indonesia's positive law and sharia economic law in particular. The research method used in this study is qualitative research with a cross-site study approach. Primary data sources are obtained from direct searches on e-commerce platforms, while secondary data is obtained from journals and other published research results. The results of this study show that the flash sale mechanism that has been running so far in Indonesia has been in accordance with Indonesia's positive law and sharia economic law, both from normative, social, and sharia aspects itself.

Research on the Impact of Short Selling Mechanism on Corporate Violation Risks

Research on the Impact of Short Selling Mechanism on Corporate Violation Risks

Regulating data sales: The role of data selling mechanisms

We analyze the effects of different data selling mechanisms of a monopolistic Data Broker (DB) who sells consumer data to firms in a downstream market with free entry, where data can be used for consumer price discrimination. We consider three possible data selling mechanisms, namely auctions with and without reserve prices, and Take-It-Or-Leave-It offers, which exhibit decreasing levels of DB’s bargaining power towards firms. We highlight the emergence of an entry barrier effect in the downstream market, regardless of the data selling mechanism. Moreover, we show that the auction-based selling mechanisms, and particularly the auction with reserve prices, induce the DB to sell the lowest quantity of data, implying the lowest level of consumer surplus. Conversely, under TIOLI, the DB floods the market for data, selling to all firms data partitions that overlap over subsets of consumers. Imposing the sale of non-overlapping partitions to all firms would improve consumer surplus and welfare.

Optimal Dynamic Mechanism Under Customer Search

How to Sell to a Customer Who Searches for Alternative Products Customer searching behavior has been ubiquitous in modern marketplaces. Dynamic pricing, such as giving promotional prices to customers who purchase earlier, has been commonly adopted in practice to discourage customers from searching. In the paper “Optimal Dynamic Mechanism Under Customer Search,” Z. Hu and Y. Xiao characterize that, in the optimal selling mechanism, the seller should offer a menu of American option contracts. Under such a mechanism, the customer is given all the freedom in conducting the search but must pay an up-front deposit from the chosen option contract in order to enjoy the right to purchase the seller’s product anytime during the search at a prespecified strike price. Through deposits, the seller is able to extract the customer’s additional surplus from searching regardless of whether the customer makes the final purchase or not. As a result, the seller can often obtain a much higher profit than dynamic pricing mechanisms that aim to deter searching.

Analisis Hukum Terhadap Konsep Riba Dalam Transaksi Jual BeliOnline Menggunakan Shopee Pay Later Pada Perspektif KompilasiHukum Ekonomi Syariah

The purpose of this research is to determine the mechanism for using Shopee PayLater in the Shopee applicationand the views of the compilation of sharia economic law on the mechanism of buying and selling contracts usingShopee PayLater. This research uses an empirical normative juridical approach and the type of research uses aqualitative approach which includes the results of online surveys and interviews, with various written informationthat explains the buying and selling mechanism using Shopee PayLater payments in the view of the ShariaEconomic Law Compilation. This data relates to Shopee PayLater service provisions, payment systems, billing anduser statements. The techniques used by the author are direct and online interviews as well as literature study. Theresults of this research are that the requirements for activating Shopee PayLater are that you must have a Shopeeaccount that has been verified by Shopee and must have an ID card to activate it. The payment system is ininstallments 2 times, 3 times, 6 times and 12 times per month. Bill payments can be made via m-banking, ATM,Indomart, Alfamart, or other payments. The use of Shopee PayLater is included in the qardh contract which hasbeen regulated in the Compilation of Sharia Economic Law in article 20 paragraph 36 which explains the meaningof Qard and the articles related to qard in the use of Shopee PayLater, namely in article 606, article 607, article 608,Article 609 and Article 611. According to several legal opinions, Shopee PayLater can be said to be usury when thereis an ziyadah or additional element required in advance by the paylater publisher for its consumers. Included in thetype of debt usury which is prohibited. However, if Shopee PayLater charges additional fees then it is not usury. Aslong as the additional costs are counted as services or ijarah.Keywords: Usury, Online Buying and Selling, Shopee PayLater, Compilation of Sharia Economic Law

Strategi Komunikasi J&T Express Dalam Pelayanan Transaksi Cod ( Cash On Delivery )Di Kota Solok

The COD (Cash On Delivery) payment method is a payment that can be made after the buyer or recipient of the goods has received the goods ordered. With the convenience that people get in online shopping activities, online shopping is becoming more and more popular among people, one of which is in the city of Solok. And one of the expeditions in Solok City which is a place for sending goods to Solok is J&T Express. There are problems caused by customers' ignorance of online buying and selling mechanisms that use the COD payment method, causing problems for couriers and customers during the transaction process. For this reason, J&T Express has a strategy in processing COD transactions with customers. The research method used in this research is a qualitative descriptive approach and uses Joseph Devito's theory to analyze the communication process of J&T Express's strategy in transaction services via COD. The result of this research is that J&T Express provides education to couriers to provide information to COD customers about rules, policies and procedures for handling complaints such as complaints about ordered goods using the COD payment method. Apart from that, regulations regarding COD payment methods are also available on the internet so that many COD customers can know them. In this strategy, there are obstacles that make it difficult for COD customers to receive information, namely the lack of courier education to customers about COD regulations, the existence of limited customer technology, and also customer disagreement with the rules.

Equity Crowdfunding: The Secondary Market’s Implementation and Legal Protection for Investors Using Technology-Based Crowdfunding

The secondary market in equity crowdfunding aims to facilitate Investors in trading their Micro, Small, and Medium Enterprises (MSMEs) shares to other Investors as an exit and entrance strategy for interested Investors. Therefore, the traded shares must be liquid, ensuring that the secondary market of equity crowdfunding operates fairly, orderly, and efficiently. However, implementing the secondary market in equity crowdfunding in Indonesia, introduced in 2018 by the Financial Services Authority (OJK), still leaves room for evaluation and improvement. This thesis first examines the organization of the secondary market in Indonesia, which lacks legal certainty for both the Organizer and Users. Secondly, it explores the regulations on the secondary market in equity-based Crowdfunding in the United States, which can be used as a reference to develop legal regulations in Indonesia, including the prohibition of share sales in the first year and the classification of equity-based Crowdfunding for startup companies and medium-sized enterprises. Thirdly, applying American laws in the Indonesian legal framework can provide greater financial stability for issuing companies and reduce the risk of bankruptcy for Investors in equity-based Crowdfunding. The research findings indicate that the management and philosophy of the secondary market in equity crowdfunding cannot be equated with a Stock Exchange. Preventive legal protection for Investors can be provided through guidelines issued by the OJK, such as auto-reject limits, standardized buying and selling mechanisms, trading hours, transaction fees collected by the Organizer, transparency of daily transaction summary data, and mechanisms for determining the fair share price in initial trading on the secondary market. There are criminal and administrative sanctions for repressive legal protection.

Improving prediction efficiency of Chinese stock index futures intraday price by VIX-Lasso-GRU Model

With T+0 and short selling mechanism, the stock index futures are attractive to short-term traders in China, where stocks cannot be liquidated within the day and are difficult to short. So in terms of futures, how to improve the accuracy and speed of intraday price forecasting always fascinates short-term traders and researchers. Here we propose a novel forecasting model, VIX-Lasso-GRU Model, which based on the gated recurrent unit (GRU) by adding VIX information and a method called Least absolute shrinkage and selection operator (Lasso). The volatility index (VIX) can reduce the prediction errors and the Lasso algorithm significantly improve the training speed of the model. We predict the 5-minute closing prices of three datasets of index futures by VIX-Lasso-GRU Model. Comparing to the pure GRU and LSTM, we find that this new prediction model can improve the prediction efficiency with faster speed and higher accuracy.

Overview of Buying and Selling in Islam

Buying and selling is a daily activity of the global community. This study aims to review buying and selling in Islam. This study uses a qualitative method. Descriptive research approach and literature review. Data obtained from reference journals. The results of this study explain the definition of buying and selling and buying and selling based on Sharia. The practice of buying and selling is explained in the Qur'an in Surah Al-Baqarah verse 275, which mentions leaving usury and buying and selling legally. Every Muslim needs to pay attention to the Sharia-based buying and selling mechanism.

ANALISIS HUKUM EKONOMI ISLAM TERHADAP MEKANISME JUAL BELI ONLINE SISTEM DROPSHIPPING (Studi Kasus di Diza_Olshop Kecamatan Sukorejo Kabupaten Ponorogo)

Buying and selling online dropshipping system is an online buying and selling system that is carried out through social media, aiming to make it easier for sellers and buyers. In the mechanism of buying and selling online, the dropshipping system found several problems, such as the law on the goods being traded, there is an element of ambiguity. Buying and selling like this will be detrimental to both the buyer and the seller because the seller who acts as a dropshipper will find it difficult when the buyer complains about the incompatibility of the goods he ordered. This thesis reports the results of the research, with the formulation of the problem: (1) What is the mechanism for buying and selling online with the dropshipping system at Diza_Olshop, Sukorejo District, Ponorogo Regency? (2) Why does the online buying and selling mechanism with the dropshipping system often cause problems at Diza_Olshop? (3) How is the analysis of Islamic Economic Law on buying and selling online with the dropshipping system at Diza_Olshop?. This research approach is a type of field research. Data collection techniques with observation, interviews and documentation. Based on the results of data analysis it can be concluded that: (1) The online buying and selling mechanism with a dropshipping system at Diza_Olshop is based on a greeting contract, (2) It often causes problems at Diza_Olshop due to internal factors. (3) Analysis of Islamic Economic Law, buying and selling online with the dropshipping system at the Diza_Olshop is permissible if it is in accordance with the salam sale and purchase contract and does not contain elements of gharar, usury, other evils and aims to help each other.

TINJAUAN HUKUM ISLAM TERHADAP JUAL BELI BIBIT IKAN LELE DENGAN SISTEM SAMPEL (Studi Kasus di Desa Madusari Kecamatan Siman Ponorogo)

Many residents of Madusari Village, Siman Ponorogo District, are engaged in the business of buying and selling catfish seeds, because according to them selling and raising catfish seeds is capable of making a profit and the yield is sufficient to meet their daily needs. Buying and selling catfish seeds in Madusari Village, Siman District uses a sample system. The sample system, namely the first scale, is used as a reference for the next scale. Based on the background above, the researcher took the formulation of the problem about how to buy and sell catfish seeds using the sample system in Madusari Village, Siman Ponorogo sub-district. What is the review of Islamic Law on the Mechanism of Buying and Selling Catfish Seeds with the System in Madusari Village, Siman Ponorogo District. The steps in the data collection technique are interviews, observation, and documentation. The mechanism for buying and selling catfish fingerlings uses a sample system in Madusari Village, Siman Ponorogo District, which is carried out by grouping the size of the fish seeds using the previous grading bucket, then weighing them on a digital scale weighing 1 ounce and it is known that in 1 ounce the average number is 15 fish, for The second scale and so on do not count the number of catfish fingerlings, even though between the first scale and so on the number of catfish fingerlings is not the same, but both parties are mutually willing, and after the calculation is complete, one ounce is added in each transaction..

Blind box economic marketing model analysis and prospect development strategy research: A case study of POP MART

Nowadays, China's blind box industry, as an emerging industry, is developing at a high speed. Blind box economy has greatly promoted China's economic development. Due to young people's strong curiosity and strong desire for shopping, the uncertainty and popularity of blind boxes, blind boxes are very attractive to contemporary young people. Therefore, based on simple data analysis, the author studies the marketing model of blind box economy, the problems existing in the blind box industry and the future development strategy of the blind box industry in this paper. This paper finds that the blind box economy is in the stage of rapid development, so there are a variety of problems, such as blind box bidding, poor quality of blind box, false publicity and after-sales service is not in place. To solve these problems, this paper puts forward some suggestions. First of all, the government should establish and improve the relevant laws of the blind box industry and strengthen supervision and law enforcement to protect the rights and interests of consumers. Secondly, businesses engaged in the blind box industry should operate in accordance with the law to ensure the production of good quality products and provide efficient after-sales service. Finally, consumers should learn and understand the blind box selling mechanism, rational consumption, and learn how to correctly safeguard their rights. The significance of this paper is to promote the healthy development of blind box economy and guide the blind box industry to become a more mature industry.