The research seeks to contribute to Bitcoin pricing analysis based on the dynamics between variables of attractiveness and the value of the digital currency.Using the error correction model,the relationship between th...The research seeks to contribute to Bitcoin pricing analysis based on the dynamics between variables of attractiveness and the value of the digital currency.Using the error correction model,the relationship between the price of the virtual currency,Bitcoin,and the number of Google searches that used the terms bitcoin,bitcoin crash and crisis between December 2012 and February 2018 is analyzed.The study also applied the same analysis to prices of Bitcoin denominated in different sovereign currencies traded during the same period.The Johansen(J Econ Dyn Control 12:231-254,1988)test demonstrates that the price and number of searches on Google for the first two terms are cointegrated.This research indicates that there are strong short-term and long-term dynamics among attractiveness factors,suggesting that an increase in worldwide interest in Bitcoin is usually preceded by a price increase.In contrast,an increase in market mistrust over a collapse of the currency,as measured by the term bitcoin crash,is followed by a fall in price.Intense world economic crisis events appear to have a strong impact on interest in the virtual currency.This study demonstrates that during a worldwide crisis Bitcoin becomes an alternative investment,increasing its price.Based on it,bitcoin may be used as a safe haven by the financial market and its intrinsic characteristics might help the investors and governments to find new mechanisms to deal with monetary transactions.展开更多
Porter identifies high market share with cost leadership strategy which is based on the idea of competing on a price lower than that of the competition. However, in most consumer markets a business should serve the mi...Porter identifies high market share with cost leadership strategy which is based on the idea of competing on a price lower than that of the competition. However, in most consumer markets a business should serve the middle class by competing in the mid-price segment, offering quality better than that of the competition at a somewhat higher price. It is this path that can lead to market share leadership： a strategy that can be both profitable and sustainable. The U.S. men＇s shaving cream market consists of two major product-market segments： gel and foam. We test the hypothesis that the best-selling brand is very likely to be a member of the mid-price segment with a price tag that is higher than that of the nearest competition. This study is based on annual U.S. sales data for 2008 and 2007 from discount retail stores, food stores, and drug stores. We performed two separate analyses for 2008 and 2007, using cluster analysis as the main analytic tool. The results were remarkably consistent between the two years. In the gel segment--by far the most important--the price-quality segmentation analysis supported our hypothesis. An interesting finding is that, for both the gel and foam segments, we found the rank order correlation of brand unit price between 2007 and 2008 as highly significant. This means that in this market management considers the price of a brand as a strategic rather than a tactical variable. Although, technically the results for the foam segment were negative, this does not necessarily contradict our hypothesis. Finally, we discovered six strategic groups in the industry and have tried to articulate what their competitive strategy is.展开更多
The steelmaking process scheduling problem by considering variable electricity price （SMSPVEP） was in- vestigated. A decomposition approach was proposed for the SMSPVEP. At the first stage, mathematical program-ming...The steelmaking process scheduling problem by considering variable electricity price （SMSPVEP） was in- vestigated. A decomposition approach was proposed for the SMSPVEP. At the first stage, mathematical program-ming was utilized to minimize the maximum completion time for each cast without considering variable electricity price. At the second stage, based on obtained relative schedules of all casts, a mathematical model was formulated with an objective of minimizing the energy cost for all casts scheduling problem. The two-stage models were tested on randomly generated instances based on the practical process in a Chinese steelmaking plant. Computational results demonstrate the effectiveness of the proposed approach.展开更多
文摘The research seeks to contribute to Bitcoin pricing analysis based on the dynamics between variables of attractiveness and the value of the digital currency.Using the error correction model,the relationship between the price of the virtual currency,Bitcoin,and the number of Google searches that used the terms bitcoin,bitcoin crash and crisis between December 2012 and February 2018 is analyzed.The study also applied the same analysis to prices of Bitcoin denominated in different sovereign currencies traded during the same period.The Johansen(J Econ Dyn Control 12:231-254,1988)test demonstrates that the price and number of searches on Google for the first two terms are cointegrated.This research indicates that there are strong short-term and long-term dynamics among attractiveness factors,suggesting that an increase in worldwide interest in Bitcoin is usually preceded by a price increase.In contrast,an increase in market mistrust over a collapse of the currency,as measured by the term bitcoin crash,is followed by a fall in price.Intense world economic crisis events appear to have a strong impact on interest in the virtual currency.This study demonstrates that during a worldwide crisis Bitcoin becomes an alternative investment,increasing its price.Based on it,bitcoin may be used as a safe haven by the financial market and its intrinsic characteristics might help the investors and governments to find new mechanisms to deal with monetary transactions.
文摘Porter identifies high market share with cost leadership strategy which is based on the idea of competing on a price lower than that of the competition. However, in most consumer markets a business should serve the middle class by competing in the mid-price segment, offering quality better than that of the competition at a somewhat higher price. It is this path that can lead to market share leadership： a strategy that can be both profitable and sustainable. The U.S. men＇s shaving cream market consists of two major product-market segments： gel and foam. We test the hypothesis that the best-selling brand is very likely to be a member of the mid-price segment with a price tag that is higher than that of the nearest competition. This study is based on annual U.S. sales data for 2008 and 2007 from discount retail stores, food stores, and drug stores. We performed two separate analyses for 2008 and 2007, using cluster analysis as the main analytic tool. The results were remarkably consistent between the two years. In the gel segment--by far the most important--the price-quality segmentation analysis supported our hypothesis. An interesting finding is that, for both the gel and foam segments, we found the rank order correlation of brand unit price between 2007 and 2008 as highly significant. This means that in this market management considers the price of a brand as a strategic rather than a tactical variable. Although, technically the results for the foam segment were negative, this does not necessarily contradict our hypothesis. Finally, we discovered six strategic groups in the industry and have tried to articulate what their competitive strategy is.
基金Item Sponsored by National Natural Science Foundation of China (71171038,71021061 )Fundamental Research Funds for Central Universities of China (N100504001)
文摘The steelmaking process scheduling problem by considering variable electricity price （SMSPVEP） was in- vestigated. A decomposition approach was proposed for the SMSPVEP. At the first stage, mathematical program-ming was utilized to minimize the maximum completion time for each cast without considering variable electricity price. At the second stage, based on obtained relative schedules of all casts, a mathematical model was formulated with an objective of minimizing the energy cost for all casts scheduling problem. The two-stage models were tested on randomly generated instances based on the practical process in a Chinese steelmaking plant. Computational results demonstrate the effectiveness of the proposed approach.
