SciCombinator

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Concept: Inverse demand function

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Over the past decade, several countries across all regions, income groups and procurement methods have been unable to secure sufficient BCG vaccine supply. While the frequency of stock-outs has remained rather stable, duration increased in 2014-2015 due to manufacturing issues and attracted the attention of national, regional and global immunization stakeholders. This prompted an in-depth analysis of supply and demand dynamics aiming to characterize supply risks. This analysis is unique as it provides a global picture, where previous analyses have focused on a portion of the market procuring through UN entities. Through literature review, supplier interviews, appraisal of shortages, stock-outs and historical procurement data, and through demand forecasting, this analysis shows an important increase in global capacity in 2017: supply is sufficient to meet forecasted BCG vaccine demand and possibly buffer market shocks. Nevertheless, risks remain mainly due to supply concentration and limited investment in production process improvements, as well as inflexibility in demand. Identification of these market risks will allow implementation of risk-mitigating interventions in three areas: (1) enhancing information sharing between major global health actors, countries and suppliers, (2) identifying interests and incentives to expand product registration and investment in the BCG manufacturing process, and (3) working with countries for tighter vaccine management.

Concepts: Supply and demand, Consumer theory, Microeconomics, Market, Market economy, Economic surplus, Inverse demand function, Islamic economics in the world

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In this paper, we have considered an economic order quantity model for deteriorating items with two-level trade credit policy in which a delay in payment is offered by a supplier to a retailer and also an another delay in payment is offered by the retailer to his/her all customers. Here, it is proposed that the demand function is dependent on the length of the customer’s credit period and also the duration of offering the credit period. In this article, it is considered that the retailer’s ordering cost per order depends on the number of replenishment cycles. The objective of this model is to establish a deterministic EOQ model of deteriorating items for the retailer to decide the position of customers credit period and the number of replenishment cycles in finite time horizon such that the retailer gets the maximum profit. Also, the model is explained with the help of some numerical examples.

Concepts: Time, Mathematics, Operations research, Set theory, Commerce, Inverse demand function, Economic order quantity, Dynamic lot size model

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Behavioral economic demand curve indices of alcohol consumption reflect decisions to consume alcohol at varying costs. Although these indices predict alcohol-related problems beyond established predictors, little is known about the determinants of elevated demand. Two cognitive constructs that may underlie alcohol demand are alcohol-approach inclinations and drinking identity. The aim of this study was to evaluate implicit and explicit measures of these constructs as predictors of alcohol demand curve indices. College student drinkers (N = 223, 59% female) completed implicit and explicit measures of drinking identity and alcohol-approach inclinations at 3 time points separated by 3-month intervals, and completed the Alcohol Purchase Task to assess demand at Time 3. Given no change in our alcohol-approach inclinations and drinking identity measures over time, random intercept-only models were used to predict 2 demand indices: Amplitude, which represents maximum hypothetical alcohol consumption and expenditures, and Persistence, which represents sensitivity to increasing prices. When modeled separately, implicit and explicit measures of drinking identity and alcohol-approach inclinations positively predicted demand indices. When implicit and explicit measures were included in the same model, both measures of drinking identity predicted Amplitude, but only explicit drinking identity predicted Persistence. In contrast, explicit measures of alcohol-approach inclinations, but not implicit measures, predicted both demand indices. Therefore, there was more support for explicit, versus implicit, measures as unique predictors of alcohol demand. Overall, drinking identity and alcohol-approach inclinations both exhibit positive associations with alcohol demand and represent potentially modifiable cognitive constructs that may underlie elevated demand in college student drinkers. (PsycINFO Database Record

Concepts: Scientific method, Prediction, Futurology, Future, Hypothesis, Supply and demand, Drinking culture, Inverse demand function

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We present a mathematical model of a fishery on several sites with a variable price. The model takes into account the evolution during the time of the resource, fish and boat movement between the different sites, fishing effort and price that varies with respect to supply and demand. We suppose that the movements of the boats and resource as well as the variation of the price go on at a fast time scale. We use methods of aggregation of variables in order to reduce the number of variables and we derive a reduced model governing two global variables, respectively the biomass of the resource and the fishing effort of the whole fishery. We look for the existence of equilibria of the aggregated model and perform local stability analysis. Two main cases can occur. The first one corresponds to over-exploitation leading to fish extinction. At extinction, the fishing effort tends to a positive value. The second case corresponds to a durable fishery equilibrium which is globally asymptotically stable. In the later case, we show that there exists a number of fishing sites that optimizes the total catch of the fishery.

Concepts: Mathematics, Physics, Set theory, Logic, Supply and demand, Fisheries, Overfishing, Inverse demand function

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Production of many consumer products results in byproducts that contain a considerably large part of nutrients originating from input materials. High production volumes, environmental impact, and nutritional content of byproducts make them an important subject for careful valorization. Valorization allows us to explore the possibility of reusing nutrients in the production of main products, and thus highlights the potential gains that can be achieved. The main aim of this study was to evaluate the added value of cheese whey valorization, and to determine the impact of integral valorization of main products and byproducts on the profit of a dairy producer. Several scenarios and cases were implemented and analyzed using a decision support tool, the integral dairy valorization model. Data originated from the international dairy processor FrieslandCampina (Amersfoort, the Netherlands). The outcomes of scenarios were analyzed with regard to profit and shifts in the production of nonwhey end products, and were validated by company experts. Modeling results showed that the valorization of byproducts is very profitable (24.3% more profit). Furthermore, additional profit can be achieved when 2 valorization processes (main products and byproducts) are integrated. This effect is, however, considerably affected by current capacity and market demand limitations. Significant benefits can be created if demand of whey-based products is increased by 25%.

Concepts: Volume, Milk, Value added, Integral, Supply and demand, Casein, Whey, Inverse demand function