This paper proposes a novel optimal current given (OCG) maximum power point tracking (MPPT) control strategy based on the theory of power feedback and hill climb searching (HCS) for a permanent magnet direct drive wind energy conversion system (WECS). The presented strategy not only has the...

Choi, DeSarbo and Harker (1990) have recently proposed a numerical methodology for optimal product positioning and pricing under the assumption that the incumbents react only with price changes in the short run. The current note extends this methodology to include incumbents' long-run strategy...

This paper presents a consumer-based methodology for new product pricing and positioning in the face of price competition. The price competition is modelled as a Nash equilibrium for which two complementary approaches are employed: an analytical approach of duopoly provides qualitative insights...

In recent studies of channel competition, it has been found that channel intermediaries reduce the intensity of direct competition between manufacturers. The underlying channel structure in most studies consists of two manufacturers and two retailers each of whom sells only manufacturer's...

Motivated by the emergence of online penny or pay-to-bid auctions, in this study, we analyze the operational consequences of all-pay auctions competing with fixed list price stores. In all-pay auctions, bidders place bids, and highest bidder wins. Depending on the auction format, the winner pays...

This article reports results from surveying decision makers who had used a visual, interactive (VI) model to aid their decision making. The survey was a follow-up to an earlier survey of modellers who had built at least one VI model. The model builders reported on their practical experience with...

We develop a demand rate model for the optimisation of retail sales of perishable assets when consumers track prices over the sales horizon. We model this behaviour within an aggregate demand framework, solving the initial joint inventory and pricing problem when the demand is deterministic as...

In opaque selling certain characteristics of the product or service are hidden from the consumer until after purchase, transforming a differentiated good into somewhat of a commodity. Opaque selling has become popular in service pricing as it allows firms to sell their differentiated products at...

This paper examines the welfare implications of different exchange-rate systems, especially an exchange-rate target-zone system, in a context of monetary policy making and dynamic inconsistency. It is shown that when there is uncertainty, there is a trade-off between commitment to a rule and...