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Journal articles on the topic 'Consumer arbitrage'
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1
Aguirre, Iñaki, and Marı́a Paz Espinosa. "Product differentiation with consumer arbitrage." International Journal of Industrial Organization 22, no. 2 (2004): 219–39. http://dx.doi.org/10.1016/s0167-7187(03)00092-4.
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Anderson, Simon P., and Victor A. Ginsburgh. "International Pricing with Costly Consumer Arbitrage." Review of International Economics 7, no. 1 (1999): 126–39. http://dx.doi.org/10.1111/1467-9396.00151.
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Anson, José, Mauro Boffa, and Matthias Helble. "Consumer arbitrage in cross-border e-commerce." Review of International Economics 27, no. 4 (2019): 1234–51. http://dx.doi.org/10.1111/roie.12424.
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Hwang, Hong, Yan-Shu Lin, and Chao-Cheng Mai. "Spatial pricing, optimal location and social welfare with consumer arbitrage." Annals of Regional Science 41, no. 3 (2007): 619–38. http://dx.doi.org/10.1007/s00168-007-0120-z.
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Ito, Koichiro, and Mar Reguant. "Sequential Markets, Market Power, and Arbitrage." American Economic Review 106, no. 7 (2016): 1921–57. http://dx.doi.org/10.1257/aer.20141529.
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We develop a framework to characterize strategic behavior in sequential markets under imperfect competition and restricted entry in arbitrage. Our theory predicts that these two elements can generate a systematic price premium. We test the model predictions using microdata from the Iberian electricity market. We show that the observed price differences and firm behavior are consistent with the model. Finally, we quantify the welfare effects of arbitrage using a structural model. In the presence of market power, we show that full arbitrage is not necessarily welfare-enhancing, reducing consumer costs but increasing deadweight loss. (JEL D42, D43, L12, L13, L94, Q41)
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Grossmann, Axel, Teofilo Ozuna, and Marc W. Simpson. "ADR mispricing: Do costly arbitrage and consumer sentiment explain the price deviation?" Journal of International Financial Markets, Institutions and Money 17, no. 4 (2007): 361–71. http://dx.doi.org/10.1016/j.intfin.2006.02.001.
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Yang, Gi Jin. "Crypto-assets and Financial Consumer ; A Review of Surrounding Legal Issues." International Review of Financial Consumers 3, No. 2 Oct 2018 (2018): 1–8. http://dx.doi.org/10.36544/irfc.2018.1-2.1.
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Crypto-assets or cryptocurrencies have emerged globally lately. This paper aims to discuss several issues about crypto-assets or cryptocurrencies while it introduces the some Korean issues. Recent attempts to regulate crypto-assets or cryptocurrencies are mostly to avoid/decrease regulatory arbitrage. Activities surrounding crypto-assets or cryptocurrencies may constitute pseudo-deposit taking activities subject to the related banking regulations. As cryptocurrencies are sometimes traded like money, activities dealing with cryptocurrencies may be subject to regulations about anti-money laundering (AML) and counter terrorist financing (CTF). Securities issues to protect investors are most topical; securities issues makes ICOs reviewed from an investor protection aspect thereby justifying application of securities regulations. Furthermore, the issue of accounting and taxation, and privacy issue are also important which need to keep watching.
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Ajello, Andrea, Luca Benzoni, and Olena Chyruk. "Core and ‘Crust’: Consumer Prices and the Term Structure of Interest Rates." Review of Financial Studies 33, no. 8 (2019): 3719–65. http://dx.doi.org/10.1093/rfs/hhz094.
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Abstract We propose a no-arbitrage model of the nominal and real term structures that accommodates the different persistence and volatility of distinct inflation components. Core, food, and energy inflation combine into a single total inflation measure that ties nominal and real risk-free bond prices together. The model successfully extracts market participants’ expectations of future inflation from nominal yields and inflation data. Estimation uncovers a factor structure common to core inflation and interest rates and downplays the pass-through effect of short-lived food and energy shocks on inflation and interest rates. Model forecasts systematically outperform survey forecasts and other benchmarks. Authors have furnished an Internet Appendix, which is available on the Oxford University Press Web site next to the link to the final published paper online.
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Miszczynski, Milosz. "Labour arbitrage: the lifecycle of a global production node." Journal of Organizational Ethnography 5, no. 2 (2016): 106–22. http://dx.doi.org/10.1108/joe-04-2016-0009.
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Purpose – The purpose of this paper is to address the geographic mobility of organisations by focusing on an instance of a rural community hosting a mobile phone plant in Romania. The paper depicts the process of changes in the community and outlines the effects during the lifecycle of the investment: starting from the plant’s re-location from Germany to Romania until its closure and re-location to Southern China. Design/methodology/approach – This study emerged from a 16 month ethnography in the community conducted between 2011 and 2013. The quotes and observations come from recorded interviews and field notes taken during this time. Findings – The outcome of this work is to show how firms generate relationships not only with each other, but also with local communities, their labour markets and economies. As the author argue in this work, those relationships, despite their intensity and transformative power, are unstable and contrary to expectations might prove to be fragile and temporary. Originality/value – A number of approaches, such as world-system theory, political economy or the global value chain theory, try to describe the ongoing re-location of manufacturing industry by employing a top-down perspective. In this work, the author goes beyond this view and instead focus on the cultural meanings of this process. The author’s bottom-up perspective focuses on the particular geographic location of a production node, an important part of the global value chain of a major producer of consumer electronics. The unique value of this work is also that it shows the local outcomes of the investment and the way that workers understand their participation in global production at different stages of organisational life.
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Peng, Congmin. "Identifying Bubbles in China’s Property Market for Consumer Financial Well-Being." Journal of Financial Counseling and Planning 29, no. 2 (2018): 182–97. http://dx.doi.org/10.1891/1052-3073.29.2.182.
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A sharp increase in Chinese house prices combined with the extraordinary lending growth during the 2000 s has led to concerns of an emerging real estate bubble and impairment of consumer financial well-being. This article studies real house prices relative to fundamental house values. Housing constitutes a large fraction of most household portfolios therefore affect household well-being, and its characteristics are in contrast to what prevails in most financial markets as arbitrage is limited, and hence correction toward fundamental values can be a prolonged process. Using a time-varying present value approach, our findings suggest evidence of bubbles in the Chinese housing market nationally and in representative cities using real-term data. We also find that price dynamics have an important role to play in determining house prices. Moreover, the results reveal that the dominant driving force of house price deviations from fundamental values might be the less than fully rational behavior of investors rather than fundamental factors. This seems plausible in an emerging market such as China.
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Sproul, Thomas W., Jaclyn D. Kropp, and Kyle D. Barr. "The pricing of community supported agriculture shares: evidence from New England." Agricultural Finance Review 75, no. 3 (2015): 313–29. http://dx.doi.org/10.1108/afr-04-2015-0020.
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Purpose – Community supported agriculture (CSA) programs allow consumers to buy a share of a farm’s production while providing working capital and risk management benefits for farmers. Several different types of CSA arrangements have emerged in the market with terms varying in the degree to which consumers share in the farm’s risk. No-arbitrage principles of futures and options pricing suggest that CSA shares should be priced to reflect the degree of risk transfer. The paper aims to discuss these issues. Design/methodology/approach – The authors evaluate the three most common share types using a cross-sectional data set of 226 CSA farms from New England to determine if there is empirical evidence in support of the theoretical price relationship between share types. Findings – The degree of risk transfer from farmers to consumers has a significant effect on the share price. There are statistically significant returns to scale and higher prices for organics. Farm characteristics and product offerings predict which type of shares is offered for sale. Research limitations/implications – The data set does not contain information pertaining to actual deliveries, expected deliveries, variance of expected deliveries, or covariance information; thus differences in share prices could be due to differences in these uncontrolled factors. Originality/value – This paper provides empirical evidence that CSA share prices reflect the degree of risk transferred from the producer to the consumer. It also highlights challenges in conducting empirical work pertaining to CSA contracting.
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LIVIU, TUDOR. "Change in Textile and Clothing Industry." Industria Textila 69, no. 01 (2018): 37–43. http://dx.doi.org/10.35530/it.069.01.1449.
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Traditionally, Textile and Clothing Industry has been known for its incremental changes but the current global business environment creates the premises of multiple organizational disruptive changes. Change Management helps people to transition structural change in a positive and efficient manner. Small and medium enterprises in Textile and Clothing Industry face a particular set of challenges – new technologies requiring high investments, relocation arbitrage on labor costs, regional industry protectionism, volatile consumer preferences, need for new managerial skills etc. – all these demanding a rebalance of managerial focus from operational excellence to strategic and change management excellence. A Change Management Model, with associated implementation discipline and attention to global market trends, represents a necessity for current managers active in Textile and Clothing Market.
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Milovidov, V. "Liberalism and Regulation of Financial Market." World Economy and International Relations, no. 9 (2012): 20–30. http://dx.doi.org/10.20542/0131-2227-2012-9-20-30.
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Reagan's financial sector deregulation became a starting point for the financial engineering, derivatives, combinatory financial operations industry. Due to it hedge funds developed, and a range of risk financial transactions expanded among the banks that found both new forms of financial risk hedging and new sources of income: arbitrage and hedging, credit default swaps, operations with "second-rate” credits. It was them that exploded the market in 2007–2008. The reaction of states realized in a string of regulation initiatives, including creation of supranational coordination bodies (in particular, Financial Stability Board); reformatting of mega regulators and on their base – the shaping of state prudential supervision and financial services consumer rights protection bodies with different tasks; restrictions on hedge funds activities; toughening of derivative instruments regulation and implementing of a central counterparty institute on derivatives market.
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Zain, Irma Istihara. "MEDIASI DALAM PEMBIAYAAN MOBIL PERSPEKTIF HUKUM ISLAM DI BADAN PENYELESAIAN SENGKETA KONSUMEN KOTA MATARAM." Asy-Syari'ah 21, no. 2 (2020): 257–80. http://dx.doi.org/10.15575/as.v21i2.6521.
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Abstract: The development of payment system that is easier accessed by consumer makes the consumer feels that that they has been given the ease of meeting their needs such as vehicle or in this case car. It is uncommon for the consumer to think about the impact that will occur in the future when their rights are not fulfilled as consumer. Consumer Dispute Resolution Agency (BPSK) has the role of protecting the rights of consumer and businessmen through arbitrage, conciliation, and mediation. However, most of the dispute was strived to be resolved through mediation. BPSK can verify the default clauses specified by businessmen. The complaint related to the lost he experienced can be prepared in writing or verbally through BPSK. This study aimed to give education and illustration about the mediation of car financing in BPSK of Mataram City, to explain the causative factors of dispute in BPSK, and to explain mediation of car financing in BPSK of Mataram City according to Islamic Law Perspective. This study used qualitative method through case approach. Case approach is an approach that raising issues by observing some similar cases. At the end of the study, the stages of mediation dispute resolution for car financing based on positive law concept and Islamic law concept can be found since both concepts are prioritizing justice. However, BPSK adopted three stages called request, trial, and resolution while in Islamic law concept prioritized pillars and condition. Besides that, the causative factor of car financing dispute in BPSK is contract violation. Keywords: Mediation, Car Financing, Consumer Dispute Settlement Agency, Islamic LawAbstrak: Berkembangnya sistem pembiayaan yang sangat mudah di jangkau oleh konsumen, membuat konsumen merasa diberi keringanan khususnya dalam pemenuhan kebutuhan seperti kendaraan bermotor yang dalam hal ini mobil. Sehingga tidak jarang konsumen memikirkan dampak yang terjadi di kemudian hari ketika tidak terpenuhinya hak yangseharusnya didapatkan sebagai konsumen. Sehingga BPSK memiliki peranan dalam melindungi hak-hak konsumen ketika dirugikan yaitu dengan melakukan penyelesaian sengketa antara konsumen dan pelaku usaha, melalui arbitrase, konsiliasi maupun mediasi, namun diupayakan penyelesaian sengketa dengan cara mediasi. BPSK dapat memeriksa klausula baku yang dicantumkan oleh pelaku usaha. Pengaduan dapat dilakukan secara tertulis ataupun lisan melalui BPSK terkait kerugian yang dialaminya. Penelitian ini berujuan untuk memberi edukasi dan gambaran terkait mediasi dalam pembiayaan mobil di BPSK Kota Mataram. Menjelaskan faktor penyebab timbulnya sengketa di BPSK. Dan menjelaskan mediasi dalam pembiayaan mobil di BPSK Kota Mataram perspektif hukum Islam. Metode yang digunakan yaitu kualitatif, pendekatan yang digunakan dengan mengangkat isu-isu yang muncul dengan mengaati beberapa kasus oleh karena dengan metode tersebut dinamakan dengan pendekatan kasus atau dengan kata lain case approach. Sehingga tata cara pelaksanaan penyelesaian sengketa mediasi dalam pembiayaan mobil berdasarkan konsep hukum positif dan konsep hukum Islam dapat ditemukan melalui penelitian ini. Konsep tersebut sama-sama mengutamakan keadilan, namun di BPSK mengadopsi 3 tahapan, yaitu permohonan, persidangan dan putusan sedangkan dalam konsep hukum Islam mengutamakan rukun, syarat serta prinsip-prinsip dalam mediasi. Selain itu faktor dari timbulnya sengketa pembiayaan mobil di BPSK yaitu adanya cidera janji atau wanprestasi. Kata Kunci: Mediasi, Pembiayaan Mobil, Badan Penyelesaian Sengketa Konsumen, Hukum Islam
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Gyódi, Kristóf, Maciej Sobolewski, and Michał Ziembiński. "What Drives Price Dispersion in the European E-commerce Industry?" Central European Economic Journal 3, no. 50 (2018): 53–71. http://dx.doi.org/10.1515/ceej-2017-0017.
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Abstract An important aspect of economic integration of the European Union is price convergence on digital single market. In this study, we propose a novel way to measure price dispersion in the e-commerce industry, using a custom made web-scraping tool. We target all the major price comparisons sites in the 26 EU member states, which enables us to collect price signals from thousands of retail shops operating on-line. We analyse pricing data of 182 branded products sold on-line across the EU, representing the most popular categories: fashion, consumer electronics, gaming and software, and cosmetics. We find considerable dispersion of both pre and post-vat on-line prices ranging from 20% to 40%, depending on the product category. The observed on-line price dispersion is driven by both cost factors and the level of per capita income, which is consistent with the view that producers or large distributors might engage in strategic price discrimination induced by income heterogeneity. At first look, our results point to the unexplored potential for cross-border trade, which could be released by policy interventions with regards to delivery, payment or law harmonization. However, under strategic price discrimination, reduced costs of arbitrage for consumers might induce discriminating firms to lower the magnitude of price dispersion between high and low income countries, bringing adverse welfare changes of a priori unknown net effect.
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Muhammad Mohsin, Hasan, and Scott Gilbert. "The Relative City Price Convergence in Pakistan: Empirical Evidence from Spatial GLS." Pakistan Development Review 49, no. 4II (2010): 439–48. http://dx.doi.org/10.30541/v49i4iipp.439-448.
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It is evident from general experience that price of same good may differ considerably among countries, regions, cities in same country and even adjacent shopping malls and outlets. It is also common knowledge that stronger competitive forces and information about market price tend to ensure convergence of prices. In the presence of these forces price differentials cannot be persistent and are hence short lived. The recent literature on price convergence has focused on country studies using regional commodity prices and Consumer Price Index (CPI) data.1 The analysis of relative prices or real exchange rates between regions or cities in a country has certain advantages in estimating Purchasing Power Parity (PPP) puzzle. There are no trade barriers and non tradable goods in a single country. Krugman and Obstfeld (2007) consider transportation costs, trade barriers and goods market segmentations as obstacles to hold international Ppp.Furthermore they mention that countries have different endowments, baskets of goods and consumption weights in their inflation index. So PPP may not hold even if there are no non tradable goods and barriers. The PPP theory is related to the law of one price through arbitrage of international goods. The estimation of real exchange rates among countries shows that the convergence towards PPP is very slow.2 This study attempts to use overall Consumer Price Index (CPI) data on 35 Pakistani cities from July 2001 to June 2008 to estimate relative city price convergence with Karachi and Lahore, two numeraire cities. The case of Pakistan is interesting primarily due to the following reasons.
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Jabarin, Mai, Abdulnaser Nour, and Sameh Atout. "Impact of macroeconomic factors and political events on the market index returns at Palestine and Amman Stock Markets (2011–2017)." Investment Management and Financial Innovations 16, no. 4 (2019): 156–67. http://dx.doi.org/10.21511/imfi.16(4).2019.14.
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This study aims to investigate the effect of macroeconomic factors on Palestine and Amman Stock Exchange returns. Also, the study handles the political events in the area and their impact on Palestine and Amman stock markets returns. This study applied the macro-econometric model based on Arbitrage Pricing Theory. In addition, the most important political events are selected, and their effect was tested using the event study methodology. The results show that the consumer price index, gross domestic product, and exchange rate have a significant impact on stock index returns, but industrial production index and balance of trade have no significant effect. In addition, the results reveal that the political events have a significant effect on Palestine and Amman stock markets returns. For instance, at Palestine Stock Exchange, seven out of eleven events had a significant impact on the Palestinian general index returns. Regarding the Amman Stock Exchange, there were nine out of eleven events, which had a significant impact on the Jordanian general index returns. The main results show that the macroeconomic factors and political events have a significant impact on the Palestine and Amman stock market returns. Both Palestine and Amman Stock Markets are inefficient and the markets do not absorb uncertain information and noisy events.
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Mittal, Banwari. "An Integrated Framework for Relating Diverse Consumer Characteristics to Supermarket Coupon Redemption." Journal of Marketing Research 31, no. 4 (1994): 533–44. http://dx.doi.org/10.1177/002224379403100407.
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The author proposes a model of consumer redemption of grocery coupons, integrating the separate literatures on consumer demographics, nondemographic consumer characteristics, and cost/benefit perceptions. The model posits that demographics are poor predictors of coupon-use behavior, because they are the farthest in the causal chain. The effects of demographics are mediated by three layers of mediating variables, each successively closer to coupon attitudes and use. Data from a sample of grocery shoppers show most of the hypothesized mediational paths to be significant. The research cautions against arbitrary use of demographics for targeting promotional efforts and offers an approach to constructing an understanding of the psychological processes that mediate between consumers’ demographics and their marketplace behaviors.
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Gorbanev, Sergey A., Ol’ga L. Markova, Gennady B. Yeremin, Natalya A. Mozzhukhina, Olga I. Kopytenkova, and Aleksandr O. Karelin. "Features of hygienic assessment of atmospheric air quality in the area of the location of the enterprise for the production of mineral fertilizers." Hygiene and sanitation 100, no. 8 (2021): 755–61. http://dx.doi.org/10.47470/0016-9900-2021-100-8-755-761.
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Introduction. The problematic environmental situation in the industrialized territories requires precise management decisions to ensure the excellent quality of atmospheric air to protect public health. Information on the atmospheric air quality is based on data from various monitoring systems: socio- hygienic, environmental, production control, as well as the results of control measures carried out by Federal Service for Surveillance on Consumer Rights Protection and Human Wellbeing (Rospotrebnadzor) and Federal Service for Supervision of Natural Resources of the Russian Federation (Rosprirodnadzor)). Materials and methods. The analysis of normative permissible emissions, sanitary protection zones projects, the results of socio-hygienic and environmental monitoring, production control, as well as carried out own laboratory and instrumental laboratory and instrumental studies of 130 samples of atmospheric air in the sanitary protection zone of the chemical industry enterprise and the nearest residential area. The research was based on the North-West Public Health Research Center and the chemical-analytical centre “Arbitrage” D.I. Mendeleev Research Institute for metrology. Results. According to various monitoring systems and the results of own research, on the territory of residential buildings, the concentrations of pollutants did not exceed the MAC, mainly corresponded to the design values. However, the ammonia content in the atmospheric air on the territory of the nearest building to the enterprise exceeded the calculated design values by three times. At the border of the industrial site of the enterprise for ammonia and diPhosphorpentaoxide, concentrations comparable to the MAC were recorded, while hydrochloric acid and gaseous fluorides were not detected either at the border of the industrial site or in the nearest residential development. Conclusions. The programs of air quality control monitoring are based on the research and analysis of the project documentation. The developed scheme for monitoring atmospheric air can be applied to assess atmospheric air quality in areas around mineral fertilizer production enterprises.
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Chovancová, Katarína. "Consumer Arbitration and Subtle Variances in its Effectiveness in Selected EU Member States (Czech Republic, Slovakia, Austria, Germany)." Review of Central and East European Law 43, no. 2 (2018): 197–231. http://dx.doi.org/10.1163/15730352-04302004.
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Thorough legal regulation of arbitration involving consumers is significant for their protection, which is provided in the EU by the restrictive model, embedded in Council Directive 93/13/EEC on Unfair Terms in Consumer Contracts. It is submitted that EU Member States’ legislative reaction to achieve compatibility of their national laws with Directive 93/13 EEC was not identical and led to a debate on the effectiveness of consumer arbitration in the EU. The following article is an attempt to inform this debate. It provides a compact analysis of consumer arbitration agreements and discusses relevant arbitration law and practice in the Czech Republic, Slovakia, Austria and Germany – four EU Member States and also neighbors with intertwined mutual relationships. The thesis of this article is that even the most consumer-friendly legislation does not secure the success of consumer arbitration in all arbitrated cases. Equally, strongly pro-consumer legislation does not always mean arbitration-friendly legislation when legislative assimilation of litigation with arbitration is not avoided – indeed, quite the opposite.
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Chen, Hung-Yuan, and Hua-Cheng Chang. "Consumers' perception-oriented product form design using multiple regression analysis and backpropagation neural network." Artificial Intelligence for Engineering Design, Analysis and Manufacturing 30, no. 1 (2015): 64–77. http://dx.doi.org/10.1017/s0890060415000165.
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AbstractConsumers' psychological perceptions of a product are significantly influenced by its appearance aesthetics, and thus product form plays an essential role in determining the commercial success of a product. The evolution of a product's form during the design process is typically governed by the designer's individual preferences and creative instincts. As a consequence, there is a risk that the product form may fail to satisfy the consumers' expectations or may induce an unanticipated consumer response. This study commences developing an integrated design approach based on the numerical definition of product form. A series of evaluation trials are then performed to establish the correlation between the product form features and the consumers' perceptions of the product image. The results of the evaluation trials are used to construct three different types of mathematical model (a multiple regression analysis model, a backpropagation neural network model, and a multiple regression analysis with a backpropagation neural network model) to predict the likely consumer response to any arbitrary product form. The feasibility of an integrated design approach is demonstrated using a three-dimensional knife form. Although this study takes an example for illustration and verification purposes, the methodology proposed in the present study is equally applicable to any form of consumer product.
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Feng, Wenting, Tao Wang, and Guo Rui. "Influence of number magnitude in luxury brand names on consumer preference." Social Behavior and Personality: an international journal 47, no. 5 (2019): 1–9. http://dx.doi.org/10.2224/sbp.7486.
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In this study we built on scarcity theory, to conduct two experiments in which we investigated the influence of arbitrary numbers we inserted into brand names of luxury products. In Study 1 we recruited 68 consumers who were each assigned to one of two groups (small number or big number for brand name), in order to test consumers’ preferences for luxury brands with names of different number magnitudes. The results revealed that a product with a small number in the brand name was received more favorably than was a product with a big number in the name. Scarcity mediated the relationship between number magnitude and preference. In Study 2 we tested the moderating role of involvement. Number magnitude of the brand name influenced preference through scarcity when involvement was high but not when it was low. Thus, we found that numbers in the name of a luxury brand arbitrarily impacted consumers’ perceptions of scarcity, which influenced their preference in regard to brand. This relationship was moderated by involvement. The results suggest that manufacturers of luxury brands should use a small number in their brand name, and should increase the degree of consumer involvement to elevate consumer preference for the brand.
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Kozubovska, Beata. "Ginčų, kylančių iš vartojimų sutarčių, nagrinėjimo arbitraže problematika." Teisė 81 (January 1, 2011): 119–28. http://dx.doi.org/10.15388/teise.2011.0.137.
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Straipsnyje analizuojama ginčų, kylančių iš vartojimo sutarčių, arbitruotinumo problematika. Remiantis lyginamąja Lietuvos ir kitų valstybių analize, siekiama suformuluoti mokslines rekomendacijas, susijusias su arbitražo naudojimo galimybe spręsti ginčus, kylančius iš vartojimo sutarčių, Lietuvoje.This article discusses arguable aspects of arbitrability of consumer related claims. By means of comparative analysis of Lithuanian and other countries legal systems, this article aims to construct recommendation regarding the possibility to make use of arbitration while solving consumer related disputes in Lithuania.
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Walter, Maik, Christian Hildebrand, Gerald Häubl, and Andreas Herrmann. "Mixing It Up: Unsystematic Product Arrangements Promote the Choice of Unfamiliar Products." Journal of Marketing Research 57, no. 3 (2020): 509–26. http://dx.doi.org/10.1177/0022243720901520.
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This research examines how the unsystematic (vs. systematic) spatial arrangement of a set of alternatives affects consumers’ product choices. The key hypothesis is that an unsystematic product arrangement—in which an assortment consisting of several alternatives is arranged in an apparently arbitrary manner—causes greater perceptual disfluency, which in turn triggers more extensive exploratory product search, ultimately promoting the choice of unfamiliar products. This sequence of effects is particularly pronounced when consumers do not have a strong prior preference for specific alternatives in the assortment. Evidence from five studies, including a large-scale field experiment, provides support for this theorizing across various display formats and product domains. The findings advance our understanding of how the spatial arrangement of a product assortment influences consumer choice, and they shed light on the psychological mechanism that governs this effect.
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Gloukhovtsev, Alexei, John W. Schouten, and Pekka Mattila. "Toward a General Theory of Regulatory Arbitrage: A Marketing Systems Perspective." Journal of Public Policy & Marketing 37, no. 1 (2018): 142–51. http://dx.doi.org/10.1509/jppm.16.0178.
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Businesses and consumers frequently exploit differences in laws and policies across jurisdictions to circumvent local laws, regulations, or restrictions. This practice, known as regulatory arbitrage, can have negative consequences for both business and social welfare. Although previous research examines regulatory arbitrage in specific contexts such as financial markets and the pharmaceutical industry, a general framework remains missing. Drawing on marketing systems theory, this study proposes a conceptualization that reflects the necessary conditions for regulatory arbitrage to occur across a variety of contexts. It also derives a typology of strategies to prevent and eliminate regulatory arbitrage. Using the context of alcohol policy in Finland as an illustrative example, the study applies the conceptualization to examine a situation where regulatory arbitrage has repeatedly threatened local policy. The findings illustrate how the broader perspective offered by marketing systems theory can help to more accurately predict whether businesses and consumers will pursue regulatory arbitrage in a given situation, and to select appropriate strategies for preventing and eliminating regulatory arbitrage in situations where it has negative consequences.
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Anderson, Chris. "Consumption-Based Asset Pricing When Consumers Make Mistakes." Finance and Economics Discussion Series 2021, no. 015 (2021): 1–71. http://dx.doi.org/10.17016/feds.2021.015.
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I analyze the implications of allowing consumers to make mistakes on the risk-return relationships predicted by consumption-based asset pricing models. I allow for consumption mistakes using a model in which a portfolio manager selects investments on a consumer's behalf. The consumer has an arbitrary consumption policy that could reflect a wide range of mistakes. For power utility, expected returns do not generally depend on exposure to single-period consumption shocks, but robustly depend on exposure to both long-run consumption and expected return shocks. I empirically show that separately accounting for both types of shocks helps explain the equity premium and cross section of stock returns.
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Shih, Bih-Yaw, Cheng-Wu Chen, Chen-Yuan Chen, and Ta-Wei Lo. "Merged Search Algorithms for Radio Frequency Identification Anticollision." Mathematical Problems in Engineering 2012 (2012): 1–20. http://dx.doi.org/10.1155/2012/609035.
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Nowadays, the Radio Frequency Identification (RFID) system enables the control of many devices over an open communication infrastructure ranging from a small home area network to the global Internet. Moreover, a variety of consumer products are tagged with remotely low-cost readable identification electromagnetic tags to replace Bar Codes. Applications such as automatic object tracking, inventory and supply chain management, and Web appliances were adopted for years in many companies. The arbitration algorithm for RFID system is used to arbitrate all the tags to avoid the collision problem with the existence of multiple tags in the interrogation field of a transponder. A splitting algorithm which is called Binary Search Tree (BST) is well known for multitags arbitration. In the current study, a splitting-based schema called Merged Search Tree is proposed to capture identification codes correctly for anticollision. Performance of the proposed algorithm is compared with the original BST according to time and power consumed during the arbitration process. The results show that the proposed model can reduce searching time and power consumed to achieve a better performance arbitration.
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Vukadinović, Slobodan. "The arbitration clause in general terms and conditions of business transactions: Current trends in international trade versus consumer arbitration." Glasnik Advokatske komore Vojvodine 92, no. 3 (2020): 379–429. http://dx.doi.org/10.5937/gakv92-28020.
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This paper shows the diverging tendencies in the understanding of the arbitration clause contained in the general terms conditions of business transactions (GT&CBT) in (international) commercial law and consumer protection law. The results show that inverse logic is currently used regarding the issue of bringing attention to the arbitration clause contained in a GT&CBT and the necessity for such an arbitration agreement to be contained in a separate and personally signed document. International commercial arbitration, encompassing both legal dogma and arbitration and court praxis, has shown a tendency towards a more liberal and flexible understanding of the written form in the past several decades, in terms of the validity of the arbitration clause contained in a GT&CBT referred to in an underlying substantive contract. By contrast, in consumer protection law, there is a tendency for the arbitration clause contained in a GT&CBT, which has not been brought to attention, to be considered a null and void provision. Namely, it is required for the arbitration clause to be contained in a separate document signed by both parties. This points to the conclusion that special attention should be paid to consumer disputes that are to be resolved by arbitration, while court and arbitration praxis in international commercial disputes lately records cases in which the court explicitly took the opposite position. Traders' claims stating that they were not aware that the GT&CBT contained an arbitration clause and that no attention was drawn to it are considered unfounded by the courts. Namely, the application of both GT&CBTs and arbitration in international trade are, nowadays, considered ordinary.
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Lohano, Heman D., Fateh M. Mari, and Rajab A. Memon. "Testing Onion Market Integration in Pakistan." Pakistan Development Review 44, no. 4II (2005): 717–28. http://dx.doi.org/10.30541/v44i4iipp.717-728.
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Spatial market integration of agricultural products has been widely used to indicate overall market performance [Faminow and Benson (1990)]. In spatially integrated markets, competition among arbitragers will ensure that a unique equilibrium is achieved where local prices in regional markets differ by no more than transportation and transaction costs. Information of spatial market integration, thus, provides indication of competitiveness, the effectiveness of arbitrage, and the efficiency of pricing [Sexton, et al. (1991)]. If price changes in one market are fully reflected in alternative market, these markets are said to be spatially integrated [Goodwin and Schroeder (1991)]. Prices in spatially integrated markets are determined simultaneously in various locations, and information of any change in price in one market is transmitted to other markets [Gonzalez-Rivera and Helfand (2001)]. Markets that are not integrated may convey inaccurate price signal that might distort producers marketing decisions and contribute to inefficient product movement [Goodwin and Schroeder (1991)], and traders may exploit the market and benefit at the cost of producers and consumers. In more integrated markets, farmers specialise in production activities in which they are comparatively proficient, consumers pay lower prices for purchased goods, and society is better able to reap increasing returns from technological innovations and economies of scale [Vollrath (2003)].
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Akbar Hamsah, Muhajir. "EFEKTIVITAS UNDANG-UNDANG NOMOR 8 TAHUN 1999 TENTANG PERLINDUNGAN KONSUMEN TERHADAP JUAL BELI DENGAN SISTEM TRANSAKSI ELEKTRONIK (E-COMMERCE)." Al-Ishlah : Jurnal Ilmiah Hukum 22, no. 2 (2019): 79–86. http://dx.doi.org/10.33096/aijih.v21i2.31.
Full textAbstract:
Legal protection to consumers by BPSK through means of mediation or conciliation or arbitration is made on the choice and consent of the parties concerned. Consumer dispute resolution is not a gradual dispute resolution process. Factors affecting the process of providing legal protection to the sale and purchase through electronic transactions are legal factors that still weaken the parties, especially the consumer, the requirement of the agreement in Article 1320 of the Civil Code can not be fulfilled in full, especially the matter of proficiency. The activities of the cyberspace can not be approached by conventional law size and classification alone, because if this method is taken too much difficulty and passes the enforcement of the law.
 AbstrakPerlindungan hukum kepada konsumen oleh BPSK melalui mediasi atau konsiliasi atau arbitrasi dilakukan berdasarkan pilihan dan persetujuan dari pihak-pihak terkait. Resolusi perselisihan konsumen bukanlah proses penyelesaian perselisihan bertahap. Faktor-faktor yang mempengaruhi proses pemberian perlindungan hukum terhadap jual beli melalui transaksi elektronik adalah faktor hukum yang masih melemahkan para pihak, terutama konsumen, persyaratan perjanjian dalam Pasal 1320 KUHPerdata tidak dapat dipenuhi secara penuh, terutama soal kemahiran. Kegiatan dunia maya tidak dapat didekati dengan ukuran hukum konvensional dan klasifikasi saja, karena jika metode ini diambil terlalu banyak kesulitan dan melewati penegakan hukum.
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Akbar Hamsah, Muhajir. "EFEKTIVITAS UNDANG-UNDANG NOMOR 8 TAHUN 1999 TENTANG PERLINDUNGAN KONSUMEN TERHADAP JUAL BELI DENGAN SISTEM TRANSAKSI ELEKTRONIK (E-COMMERCE)." Al-Ishlah : Jurnal Ilmiah Hukum 22, no. 2 (2019): 79–86. http://dx.doi.org/10.33096/aijih.v22i2.31.
Full textAbstract:
Legal protection to consumers by BPSK through means of mediation or conciliation or arbitration is made on the choice and consent of the parties concerned. Consumer dispute resolution is not a gradual dispute resolution process. Factors affecting the process of providing legal protection to the sale and purchase through electronic transactions are legal factors that still weaken the parties, especially the consumer, the requirement of the agreement in Article 1320 of the Civil Code can not be fulfilled in full, especially the matter of proficiency. The activities of the cyberspace can not be approached by conventional law size and classification alone, because if this method is taken too much difficulty and passes the enforcement of the law.
 AbstrakPerlindungan hukum kepada konsumen oleh BPSK melalui mediasi atau konsiliasi atau arbitrasi dilakukan berdasarkan pilihan dan persetujuan dari pihak-pihak terkait. Resolusi perselisihan konsumen bukanlah proses penyelesaian perselisihan bertahap. Faktor-faktor yang mempengaruhi proses pemberian perlindungan hukum terhadap jual beli melalui transaksi elektronik adalah faktor hukum yang masih melemahkan para pihak, terutama konsumen, persyaratan perjanjian dalam Pasal 1320 KUHPerdata tidak dapat dipenuhi secara penuh, terutama soal kemahiran. Kegiatan dunia maya tidak dapat didekati dengan ukuran hukum konvensional dan klasifikasi saja, karena jika metode ini diambil terlalu banyak kesulitan dan melewati penegakan hukum.
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Erpenbach, Jackson. "A Post-Spokeo Taxonomy of Intangible Harms." Michigan Law Review, no. 118.3 (2019): 471. http://dx.doi.org/10.36644/mlr.118.3.post-spokeo.
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Article III standing is a central requirement in federal litigation. The Supreme Court’s Spokeo decision marked a significant development in the doctrine, dividing the concrete injury-in-fact requirement into two subsets: tangible and intangible harms. While tangible harms are easily cognizable, plaintiffs alleging intangible harms can face a perilous path to court. This raises particular concern for the system of federal consumer protection laws where enforcement relies on consumers vindicating their own rights by filing suit when companies violate federal law. These plaintiffs must often allege intangible harms arising out of their statutorily guaranteed rights. This Note demonstrates that Spokeo’s standard for what constitutes a cognizable intangible harm has produced inconsistent and arbitrary results in such lower court cases. Courts have come to varying conclusions about which intangible harms are sufficiently concrete to confer standing under the Court’s new standard. This Note makes two contributions. First, it offers a novel taxonomy of these various intangible harms, sorted into five discrete categories. Once these categories are identified, the underlying inconsistencies, both between circuits and between similar consumer protection laws, become evident. Second, it proposes an approach to intangible harms that is more deferential to the judgment of Congress as revealed in its statutes.
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Gunarsa, Surya Muhammad. "Kekuatan Putusan Badan Penyelesaian Sengketa Konsumen Terkait Keberatan dan Pembatalan Putusan Arbitrase Sebagai Alternative Dispute Resolution dalam Penyelesaian Sengketa Konsumen." SASI 25, no. 2 (2019): 160. http://dx.doi.org/10.47268/sasi.v25i2.197.
Full textAbstract:
Consumer dispute can be resolved by litigation and non-litigation based on agreement of the parties. Presence of the Consumer Dispute Resolution Agency (BPSK) considered as a new hope for parties because thats’s give an option to resolve consumer dispute, through BPSK it is expected that dispute can be resolved in a simple, fast, and low-cost manner. However, in fact the verdict issued by BPSK has the disadvantage of not having specificity, it caused by the article 54 point 3 of Consumer Protection Law mention that the BPSK decision is final and binding but can still be submitted for objection, even cancellation, then the absence of executorial power on the BPSK decision causes this BPSK decision to have no merit.
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Myslik, Hannah N. "Attempting—and Failing—to Balance Fairness and Efficiency in the Arbitral System." Texas A&M Law Review 8, no. 3 (2021): 583–605. http://dx.doi.org/10.37419/lr.v8.i3.4.
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The Supreme Court has actively expanded the Federal Arbitration Act into realms not originally contemplated by Congress. This harms consumers who are parties to pre-dispute, binding arbitration agreements. If consumers sign a contract containing an arbitration agreement, they may be required to arbitrate everything within the agreement’s scope, including their statutory rights. Simultaneously, the Court has restricted class action arbitration—a device on which consumers have relied when they are forced to arbitrate. The Court’s expansion of arbitration and restriction of class action arbitration has led many to distrust and advocate for changing the arbitral system. Arbitration institutions have directly reacted to the concerns about arbitration by promulgating more rules, procedures, and safeguards to make arbitration fairer for consumers. However, adding rules and procedures is probably not enough to make arbitration proceedings truly fair, and doing so creates a system that is so court-like that arbitration loses its chief benefits—affordability and efficiency. Thus, if the Court continues with its expansive arbitration jurisprudence and its anti-class action arbitration jurisprudence, institutional reaction is an unlikely solution to address arbitration’s fairness concerns.
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Isakov, Alex, Rodion Latypov, Andrey Repin, Egor Postolit, Alexey Evseev, and Elena Sinelnikova-Muryleva. "Hard Numbers: Open Consumer Price Database." Russian Journal of Money and Finance 80, no. 1 (2021): 104–19. http://dx.doi.org/10.31477/rjmf.202101.104.
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We document a new source of consumer price microdata. The new database allows researchers studying consumer price behaviour to access current and granular raw statistical observations. The range of observed prices fully covers goods and services of the Rosstat’s CPI sample and extends beyond it. In this paper, we pursue two objectives. First, we describe the data collection mechanism, data structure, and their access protocols, as well provide four complete illustrations of their application using open API: i) training machine models of product classification based on text labels, ii) real-time tracking of product prices, iii) estimating hedonic regressions for product groups, and iv) calculating arbitrary analytical price indices. Second, we share a set of basic skills and technologies for the benefit of researchers interested in creating their own sources of alternative data.
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Tifany, Takenia, and Anna Maria Tri Anggraini. "PERLINDUNGAN KONSUMEN DALAM PENERAPAN BATAS KEWENANGAN BADAN PENYELESAIAN SENGKETA KONSUMEN MENYELESAIKAN PERKARA KONSUMEN (Studi Putusan No 481 K/Pdt.Sus-BPSK/2015)." Jurnal Hukum Adigama 1, no. 1 (2018): 1087. http://dx.doi.org/10.24912/adigama.v1i1.2187.
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Consumer Protection Law regulates the legal protection of consumer and including Consumer Dispute Completion Firm who autorhized to resolve consumer disputes who feel harmed over the acts of business from people that sometimes arbitrary, but decisions taken by Consumer Dispute Completion Firm often incriminate business actors, and usually seem to exceed the limit of their authority even wrong in applying the law. Consumer Dispute Completion Firm’s authority to adjudicate and decide a dispute is induced by Supreme Court’s decision which makes Consumer Dispute Completion Firm’s authority to limited. Therefore, the writer proposed an issue about how are the limits of Consumer Dispute Completion Firm’s authority in adjudicate and decide a consumer disputes? And how are the implementation and Supreme Court’s views regarding the limitation of Consumer Dispute Completion Firm’s authority? The writer examines the problem using normative legal research methods that use secondary data. From the results of the research, it can be concluded that the limits of Consumer Dispute Completion Firm authority in solving consumer disputes are limited to the agreement between both parties. In sense the Supreme Court believes that all transactions based on an agreement become the jurisdiction of the court
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Suherman, Dian Rubiana. "UPAYA PENERAPAN ARBITRASE ONLINE DALAM PENYELESAIAN SENGKETA BUSINESS TO CONSUMER E-COMMERCE SEBAGAI WUJUD PERLINDUNGAN TERHADAP HAK KONSUMEN." Aktualita (Jurnal Hukum) 2, no. 2 (2019): 584–97. http://dx.doi.org/10.29313/aktualita.v2i2.5158.
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Arbitrase online dirasa dapat menjadi jalan tengah ketika terjadi sengketa e-commerce terutama yang bersifat lintas batas. Hal tersebut karena pada dasarnya Indonesia telah memiliki perangkat aturan yang telah mendukung pemberlakuan arbitrase online sebagai mekanisme penyelesaian sengketa e-commerce, dan adanya dorongan dari Presiden Republik Indonesia melalui Instruski Presiden Nomor 74 tahun 2017 tentang Peta Jalan Sistem Perdagangan Nasional Berbasis Elektronik (Road Map E-commerce) Tahun 2017-2019. Penelitian ini dibuat sebagai upaya pemenuhan hak konsumen untuk mendapatkan mekanisme penyelesaian sengketa konsumen yang patut sesuai dengan yang diamanatkan dalam Pasal 4 huruf (e) Undang-undang Nomor 8 tahun 1999 tentang Perlindungan Konsumen. Dalam penelitian ini penulis menggunakan metode pendekatan yuridis normatif yaitu penelitian yang dilakukan dengan cara meneliti bahan pustaka atau data sekunder. Simpulan yang dapat diambil adalah bahwa arbitrase online sudah dapat dilaksanakan di Indonesia sebagai salah satu mekanisme penyelesaian sengketa business to consumer e-commerce.
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Putri, Desi Aeriani, and Sri Walny Rahayu. "Mekanisme Perlindungan Konsumen Usaha Asuransi oleh Otoritas Jasa Keuangan." Kanun Jurnal Ilmu Hukum 21, no. 1 (2019): 129–44. http://dx.doi.org/10.24815/kanun.v21i1.12412.
Full textAbstract:
Pasal 4 huruf c Undang-Undang Nomor 21 Tahun 2011 tentang Otoritas Jasa Keuangan disebutkan tujuan OJK agar keseluruhan kegiatan sektor jasa keuangan mampu melindungi konsumen antara lain di bidang usaha asuransi. Aturan lainnya disebutkan dalam Pasal 51 dan Pasal 52 Peraturan OJK Nomor 1 tahun 2013 Tentang Perlindungan Konsumen Sektor Jasa Keuangan disebutkan dalam melindungi konsumen OJK melakukan pengawasan secara langsung maupun tidak langsung terhadap penerapan perlindungan konsumen yang dilakukan pelaku usaha secara berkala. OJK melindungi tertanggung apabila adanya pengaduan dengan hanya memfasilitasi penyelesaian pengaduan sebagaimana diatur dalam Pasal 39 ayat (3) POJK No.1/2013. Upaya yang dilakukan yaitu mempertemukan para pihak untuk mengkaji ulang permasalahan yang timbul atas penolakan klaim. Apabila terjadinya kesepakatan maka kesepakatan dituangkan dalam Akta Kesepakatan. Namun, para pihak dapat menyelesaikan melalui pengadilan atau Badan Mediasi dan Arbitrase Asuransi Indonesia (BMAI) jika tidak tercapainya kesepakatan. Mechanism of Insurance Consumer Protection by the Authority of Financial Services The article 4 (c) of Law No. 21 of 2011 on Financial Services Authority (UU OJK) mentioned that the purpose of Financial Services Authority (OJK) is all of activities from all sector of OJK to be able to protect the consumers and society including insurance business sector. The other regulation which is mentioned in article 51 and article 52 of the regulation of Financial Services Authority (OJK) No. 1 of 2013 on the protection for the consumer of financial service sector mentioned that in term of protecting the consumer, the financial services authority (OJK) conducts direct and indirect supervision towards the implementation of consumer protection which is done by the business actors regularly. OJK protects the insured parties if there is a complaint by only facilitating the settlement of complaints as stipulated in Article 39 paragraph (3) POJK No.1 / 2013. The effort which is conducted is that to bring the parties together to review the problems arising from the rejection of claims. If an agreement occurs, the agreement should be stated in the deed of agreement. However, the parties could do the settlement through the court or the Indonesian Insurance Mediation and Arbitration Board (BMAI) if no agreement is reached.
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Mina, Mihai-Zicu, and Pantelimon Popescu. "EntangleNet: Theoretical Reestablishment of Entanglement in Quantum Networks †." Applied Sciences 8, no. 10 (2018): 1935. http://dx.doi.org/10.3390/app8101935.
Full textAbstract:
In the practical context of quantum networks, the most reliable method of transmitting quantum information is via teleportation because quantum states are highly sensitive. However, teleportation consumes a shared maximally entangled state. Two parties Alice and Bob located at separate nodes that wish to reestablish their shared entanglement will not send entangled qubits directly to achieve this goal, but rather employ a more efficient mechanism that ensures minimal time resources. In this paper, we present a quantum routing scheme that exploits entanglement swapping to reestablish consumed entanglement. It improves and generalizes previous work on the subject and reduces the entanglement distribution time by a factor of 4 k in an arbitrary scale quantum network, where N = 4 k - 1 is a required number of quantum nodes located between source and destination. In addition, k is the greatest positive integer considered by Alice or Bob, such that afterwards they choose N quantum switches.
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Shalaginova, Zoya I., Vyacheslav V. Tokarev, Oksana A. Grebneva, and Aleksandr V. Lutsenko. "Technologies for mathematical and computer modeling to automate the process of operational states development for heat supply systems." E3S Web of Conferences 209 (2020): 02026. http://dx.doi.org/10.1051/e3sconf/202020902026.
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This article proposes the new technology for development of operational states for HSS of arbitrary structure and dimension. Technology is based on multilevel modeling and a new method for adjustment calculation of thermal hydraulic states. It is implemented in the information and computer complex «ANGARA-HN». Technology includes checking the permissibility of states, calculating the throttling devices on the network and inputs of consumers’ buildings. It allows calculating large systems with intermediate stages of regulation, developing adjustment measures to improve the quality of heat supply and consumer provision, reducing circulation flow rates and pressure in networks. The development of modeling methods is carried out in the following directions: taking into account the new composition of equipment, including mixing pumping stations; development of nontraditional methods of calculation, such as object-oriented modeling; development of tasks of hierarchical optimization and identification of state parameters, as task of rising for model adequacy; development of task for finding of sectioning variants for multi-circuit heat network with several sources. The application of methodological and software developments makes it possible to obtain both an economic and a social effect by identifying and realizing of the energy saving potential, improving the quality and reliability.
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Jimeno Borrero, Jesús. "Arbitraje de compañías sevillanas (siglos XVIII-XIX)." BAETICA. Estudios de Historia Moderna y Contemporánea, no. 39 (March 9, 2020): 301–20. http://dx.doi.org/10.24310/baetica.2019.v0i39.7372.
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El presente estudio analiza el desarrollo del arbitraje societario en Sevilla en un momento histórico-jurídico crucial como es el paso de la dispersión de textos legales mercantiles del siglo XVIII a la unicidad del primer Código de Comercio en 1829. La variedad de fuentes consultadas niegan la interpretación del arbitraje como un método alternativo de solución de conflictos y demuestra su condición de sistema obligatorio dentro de la propia dinámica de la justicia consular para algunas materias societarias como la contabilidad. Por otra parte, este trabajo demuestra la impermeabilidad de la casuística mercantil a las diferentes influencias legislativas que se suceden desde el siglo XVIII hasta 1868
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Schönauer, Christian, and Hannes Kaufmann. "Wide Area Motion Tracking Using Consumer Hardware." International Journal of Virtual Reality 12, no. 1 (2013): 57–65. http://dx.doi.org/10.20870/ijvr.2013.12.1.2858.
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In this paper we present a wide area tracking system based on consumer hardware and available motion capture modules and middleware. We are using multiple depth cameras for human pose tracking in order to increase the captured space. Commercially available cameras can capture human movements in a non-intrusive way, while associated software-modules produce pose information of a simplified skeleton model. We calibrate the cameras relatively to each other to seamlessly combine their tracking data. Our design allows an arbitrary number of sensors to be integrated and used in parallel over a local area network. This enables us to capture human movements in a large arbitrarily shaped area. In addition we can improve motion capture data in regions, where the field of view of multiple cameras overlaps, by mutually completing partly occluded poses. In various examples we demonstrate, how human pose data is being merged in order to cover a wide area and how this data can easily be used for character animation in a virtual environment.
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Brits, Reghard. "The National Credit Act's remedies for reckless credit in the mortgage context." Potchefstroom Electronic Law Journal / Potchefstroomse Elektroniese Regsblad 21 (January 15, 2018): 1–34. http://dx.doi.org/10.17159/1727-3781/2018/v21i0a2955.
Full textAbstract:
The National Credit Act prohibits the granting of reckless credit and also provides for certain remedies that courts can grant to consumers who have fallen victim to reckless lending practices. Depending on the circumstances, these remedies are the partial or full setting aside of the consumer's rights and obligations under the agreement; the temporary suspension of the effect of the agreement; and the restructuring of the consumer's obligations. This article investigates these remedies with a focus on the effect that they would have on a creditor provider under a mortgage agreement. The argument is made that the contractual and security rights of creditor providers amount to "property" for purposes of section 25(1) of the Constitution (the property clause) and that, to some degree or another, each of these remedies involve a "deprivation" (limitation or modification) of the creditor provider's rights (property). The consequence is that, when one of these remedies is granted to a consumer, the court must tailor the remedy in such a way that the effect on the credit provider is not "arbitrary" as meant in the property clause. Therefore, the proposal is that there must be a sufficient relationship between the purpose of the remedy (to discourage reckless lending and to rectify the damage caused) and the effects thereof on the credit provider. In general, the remedy should not go further than what is necessary to rectify the prejudice suffered by the consumer due to the credit provider's conduct. The formulation of the remedy should accommodate considerations such as whether and to what extent either or both parties have already performed under the agreement, and it should accordingly ensure that the consumer will not be unjustifiably enriched. The remedy should also account for the effect that it would have if the consumer is permitted to keep the property that was subject to the reckless credit agreement. The article furthermore raises doubts regarding the recent high court judgment in ABSA v De Beer, where all the consumer's rights and obligations under a mortgage agreement were set aside due to the credit provider's reckless conduct. Remedies like this have serious consequences and therefore it is imperative that courts carefully investigate all the effects that the order would have, so that a just and reasonable outcome is achieved. This articles accordingly aims to provide some guidance with reference to the principles of constitutional property law.
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Kip Viscusi, W., and Ted Gayer. "Rational Benefit Assessment for an Irrational World: Toward a Behavioral Transfer Test." Journal of Benefit-Cost Analysis 7, no. 1 (2016): 69–91. http://dx.doi.org/10.1017/bca.2016.2.
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Behavioral economists have identified certain biases in decision making that lead people to make decisions that harm themselves, but there is insufficient guidance for estimating benefits in the presence of such behavioral failures. This gap in principles and standards for benefit-cost analysis has led government agencies at times to adopt arbitrary and excessive benefit valuations. This article describes an approach to incorporating behavioral market failures into benefit estimation, first by advocating a behavioral transfer test to use before applying behavioral findings from narrow contexts to broader populations subject to regulation, and then by comparing the outcomes from the self-harming behavior to a policy reference point in which people are assumed to be fully informed and to act fully rationally in their own self-interest. This approach, which is grounded on systematic, well-documented, and context-specific findings of behavioral failings, would reduce instances of agencies assuming that behavioral findings in some contexts provide sufficient rationale for overriding consumer preferences in other contexts. It would also establish a consistent approach to government policy by, for example, creating symmetry between advancing policies that seek to discourage consumption of products for which consumers underestimate the health risks and fostering accurate risk beliefs to address erroneous individual choices based on risk overestimation.
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Wang, Ming-Ming, Xiu-Bo Chen, Jin-Guang Chen, and Yi-Xian Yang. "Quantum state sharing of arbitrary known multi-qubit and multi-qudit states." International Journal of Quantum Information 12, no. 03 (2014): 1450014. http://dx.doi.org/10.1142/s0219749914500142.
Full textAbstract:
In this paper, we propose a new version of quantum state sharing (QSTS) scheme of an arbitrary multi-qubit state. Then we extend the scheme to a general form of sharing an arbitrary multi-qudit state in the high-dimensional system. The schemes consider the most general case where an arbitrary quantum state can be shared among an arbitrary number of agents in a symmetric way that any agent can recover the state with the help of the others. Compared with a traditional QSTS scheme sharing an unknown state, our schemes are more efficient since the dealer only needs to perform a simpler measurement and consume less classical communication costs.
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Nakashima, Shota, Makoto Miyauchi, and Seiichi Serikawa. "Proposal of a Method to Extract Arbitrary FiguresUsing One-Dimensional Histograms." Journal of Advanced Computational Intelligence and Intelligent Informatics 13, no. 4 (2009): 380–85. http://dx.doi.org/10.20965/jaciii.2009.p0380.
Full textAbstract:
Arbitrary figure extraction, a basic image processing problem, is done typically using the generalized Hough transform (GHT). GHT and its successors tend, however, to consume humongous amounts of processing time and memory space. The arbitrary figure extraction we propose using one-dimensional histograms takes advantage of the Polytope method, which features: (1) The histogram distribution changes if parameters representing figures change. (2) Optimum parameters are obtained, if the value of the highest-frequency histogram becomes maximum. This approach makes memory space very small, processing time very short, effective by extracts arbitrary curves with different aspect ratios, and the algorithm is simple.
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Demidov, A. I., I. O. Bobarika, and I. N. Gusev. "Constraint Equations of Physical and Geometrical Parameters of an Arbitrary Branched Hydraulic System of the General Form." Proceedings of Higher Educational Institutions. Маchine Building, no. 5 (710) (May 2019): 58–66. http://dx.doi.org/10.18698/0536-1044-2019-5-58-66.
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The development trends of aviation technology impose stringent requirements for the quality of aircraft design in general and its onboard power systems in particular. The article considers an arbitrary branched hydraulic system of the aircraft. With known output characteristics of the hydraulic system, i.e. the function that it must perform, the internal parameters of the system that provide efficient flow distribution required for the calculated operation of the mechanisms are determined. The problem of obtaining a system of equations of the general form linking the physical parameters of the hydraulic system, such as supply power, pressure in consumers and flow rate in all functional subsystems, with the geometric parameters of the pipelines and consumers of the system is solved by an analytical method. The equations in the resulting system are considered in the space of physical parameters. As the geometric parameters of the elements are not specified in an explicit form, it allows the authors to obtain the only unique solution for an arbitrary number of pipelines and consumers, excluding an iterative process. Besides, the final equations clearly determine the most effective mode of operation of the power supply.
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,, Andhika Yusuf Permana, and Munawar Kholil ,. "TINJAUAN YURIDIS PERLINDUNGAN KONSUMEN DALAM PERJANJIAN JUAL BELI ONLINE DI INDONESIA." Jurnal Privat Law 7, no. 1 (2019): 60. http://dx.doi.org/10.20961/privat.v7i1.30102.
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<p>Abstract<br />This article for analytic, a problematic consumer protection, and the dispute for consumer case. This <br />research form normative legal research which perspective. A data used is secondary and tertiary data. <br />Method of collection use document. Technique analytic a data using syllogism deduction. A problematic <br />consumer protection on online transaction agreement Indonesian unsolved, due by lack of awareness <br />consumer a conflict solution, lack of knowledge consumer protect law, and over difficult on dispute. Dispute <br />online transaction use non litigation and litigation. Dispute non litigation via Indonesian National Board <br />of Arbitration, Consumer Dispute Settlement Board, National Consumer Protection Agency, Mediation <br />and Negotiation. Negotiation, this way the most effect and efficient, because taking conclusion propose <br />dealing together. <br />Key word: protection, consumer, transaction.</p><p>Abstrak<br />Artikel ini bertujuan untuk mengkaji, problematika perlindungan konsumen, dan penyelesaiaan sengketa <br />konsumen dalam perjanjian jual beli online. Jenis penelitian merupakan hukum normatif bersifat <br />preskriptif. Jenis data yang digunakan data sekunder dan tersier. Teknik pengumpulan menggunakan studi <br />kepustakaan. Teknik analisis data secara deduksi silogisme. Problematika perlindungan konsumen dalam <br />perjanjian jual beli online di Indonesia belum terpecahkan, disebabkan karena kurangnya kesadaran dari <br />konsumen untuk menyelesaikan sengketa, kurangnya pengetahuan hukum perlindungan konsumen, dan <br />terlalu rumitnya dalam penyelesaian hukum. Penyelesaian sengketa dalam jual beli online dapat melalui <br />non litigasi dan litigasi. Penyelesaian non litigasi melalui Badan Arbitrase Nasional Indonesia, Badan <br />Penyelesaian Sengketa Konsumen, Badan Perlindungan Konsumen Nasional, Mediasi, dan Negosiasi. <br />Negosiasi merupakan salah satu jalur yang paling efektif dan efesien, karena dalam pengambilan <br />keputusan lebih mengedepankan kesepakatan bersama.<br />Kata Kunci: perlindungan, konsumen, jual beli</p>
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Windarti, Dwi, M. Faruq Najib, and Frida Agung Rakhmadi. "Characteristics of Surface Tension on First Edible Oil and Frying the Mixed with Candles by Using Torsion Dynamometer." Proceeding International Conference on Science and Engineering 2 (March 1, 2019): 53–54. http://dx.doi.org/10.14421/icse.v2.54.
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Cooking oil pure with the content that has been determined according to the needs that require measurement data minimum and the measurement of the maximum permissibility of the oil it consumed, and the content contained in the oil should have a standard that had been determined by laboratory results that do not interfere with the system of the body when consumed. However, when the pure cooking oil that has been supplemented with other substances or other material that would change the sound into different standard. By way of meeting the data compare surface on pure cooking oil and cooking oil wax mixture. So with this study we can know the difference in surface tension characteristics with Torsion Dynamometer that the elections were not arbitrary and cooking oil consumed well and healthy.
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Malyshev, Alexander G., Alexander S. Polygalov, and Sergey A. Alyamkin. "Automatic Tagging of Clothing Images." Vestnik NSU. Series: Information Technologies 18, no. 2 (2020): 54–61. http://dx.doi.org/10.25205/1818-7900-2020-18-2-54-61.
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This paper presents a computer vision clothing auto-tagging algorithm. Tagging is highly demanded in e-commerce as a tool to create a rich uniform set of annotations. The annotations improve catalog organization, statistics, and can be used for interactive catalog search by consumer photos. The proposed algorithm predicts length, design, and color attributes for an arbitrary number of clothing items in an image. The modular structure of the proposed system allows reconfiguration for other sets of tags and tagging tasks not related to clothing.