Master of Agribusiness / Department of Agricultural Economics / Allen M. Featherstone / Micronutrient machines have been used successfully in the beef industry, however, their use was mostly for the addition of antibiotics into the rations. Their use in the dairy industry has been very limited. Feed cost is over 50% of the total cost on a typical dairy farm, thereby creating an area where minor changes in cost per cow can impact the bottom line. Because of the high feed cost on dairy farms, income over feed cost (IOFC) is one of the bench marks as to the overall farm financial health. The feed rations also impact animal health incidences and reproduction efficiencies. Micro machines can add small amounts of a desired nutrient or product, generally less than 56 grams (± 2 oz) into the cattle's daily total mixed rations (TMR). These micronutrients are generally expensive, and their inclusion into the rations of only cows that need that particular micronutrient is one benefit of a micro machine. Micro machines also take out the human error of mixing small accurate amounts and can easily track inventories. Benefits also include the control of on-farm shrink through dust control, and environmental stewardship of resources. Lastly, by creating options to accurately add micronutrients, milk production may be increased and health incidences reduced. The dairy industry is a virtually an untapped field for this technology and this research will explore if there is a benefit from their use. As feeding systems have evolved and milk production has continued to climb, innovative technologies will continue to be implemented. Increased financial pressures will also continue to cause producers to become more efficient with their resources. As production increases in any field, fine tuning of inputs becomes more exact. The rumen inner workings and how feedstuff blends affect rumen micros and the pH levels is an area in which there is much research completed, however, much more is still needed. The addition of micro machines to fine tune rations for dairy farms TMR rations can be a profitable way to manage income over feed cost, not only by saving money spent on micronutrients but by increasing production and reducing herd health incidences.

Both open-form and closed-form formulas are developed to compute duration for two types of fixed-rate mortgages: the level or constant payment mortgage and the constant amortization mortgage. Because holding periods are often less than maturity, duration formulas are also developed for mortgages that are paid prior to maturity. The duration formulas are used to compare the risk and price behavior of the two types of mortgages. Under any scenario, the constant amortization mortgage exhibits less interest rate risk than the constant payment mortgage. The durations of both mortgage types are monotonically increasing functions of maturity when the mortgages are held to maturity. When the mortgages are subject to prepayment, however, durations may, under certain circumstances decline with original maturity.

<p>Prior knowledge about the possible characteristics of demand and supply is vital in the planning and operation of economically sustainable isolated rural power systems. System modelling and simulation is one of the tools that can be used in planning and assessing the performance of these systems. This thesis is presenting a Monte Carlo simulation methodology for modelling, simulating and analysing the performance of isolated rural electricity markets applicable in developing countries. The definitions of possible power system operators managing these markets are introduced based on different economic objectives of operating the systems. The two system operators considered in the thesis are: altruistic and profit maximising operators. The concept used to define types of isolated rural electricity markets is combining the definitions of operators and the possible combinations of power supply options (purely thermal or hybrid system). It is anticipated that the rural electricity markets under consideration comprise of uncertainties in demand and supply (both demand and generation are modelled as random variables from assumed or estimated probability distributions).</p><p>Demand is price sensitive and modelled as a product of two random variables, relative demand and peak demand. The price sensitivity of demand is shown by representing peak demand using an economic price-demand function. The parameters (price sensitivity and demand factor) of this function are modelled as random variables which reflect the randomness of consumers’ preferences.</p><p>The simulation algorithm is based on the theory of correlated sampling, in order to compare the performance of systems under different operators. The thesis introduces the concept of nested Monte Carlo simulation to be able manage the simulation of different operators subjected to the same market conditions. The performance of electricity markets is assessed by analysing three parameters (tariffs, profit and reliability), which are random variables presented using probability distributions in form of duration curves.</p><p>The methodology is tested on a theoretical case study system using load data obtained from a rural community in Africa.  The case study illustrates how to use the model, preparation of the input variables and how to use the output to estimate and assess the possible performance of isolated rural power systems under different power system operators. It is anticipated that the proposed methodology can be used by researchers, planners and academia as a tool for planning, estimating and assessing the performance of rural power systems in isolated areas of developing countries</p>

Recently, the new type department stores are increasing rapidly. The competition among department stores is getting intensified. In early days, department stores usually competed with others by giving customers some discount or sending them gifts. However, the result of price war is that businesses are hard to raise their profits. This study analyzes consumer behavior by investigating the relation between store image and customer value, researching the correlation between customer value and price sensitivity and understanding the interference effects of demographics and lift style to test whether department stores can boost customer value by improving the store image and then decrease price sensitivity. This study adopts structural questionnaire to survey, Pearson Correlation Analysis and Canonical Correlation Analysis to analyze the relation between store image and customer value and research the correlation between customer value and price sensitivity, and Multiple Regression to investigate the mediating effects of customer value. Besides, in order to analyze the interference effects of demographics and lift style, this study chooses the Multivariate Analysis of Variance as testing tools to test these two variables. To understand what is the most important way for improving store image which can raise more customer values and what customer value was rose can boost more price tolerance, this study chooses the same sample, the same demographics or the same life style, to rebuild regression formulas, and identify the influence by observing the forecast variables and their coefficients. This study finds that if we choose different samples, including different ages, educational levels and lift styles, to build regression formula, the forecast variables and their coefficients would change. That is to say, if we want to increase price tolerance by raising customer value, we have to adopt different ways to different groups. In the same way, if businesses would like to raise costumer value by improving store images, they have to adopt different ways to different groups. If businesses adopt right way, they can let customer feel having more customer values so that customers can endure higher price and then reach the goal decreasing price sensitivity.

Prior knowledge about the possible characteristics of demand and supply is vital in the planning and operation of economically sustainable isolated rural power systems. System modelling and simulation is one of the tools that can be used in planning and assessing the performance of these systems. This thesis is presenting a Monte Carlo simulation methodology for modelling, simulating and analysing the performance of isolated rural electricity markets applicable in developing countries. The definitions of possible power system operators managing these markets are introduced based on different economic objectives of operating the systems. The two system operators considered in the thesis are: altruistic and profit maximising operators. The concept used to define types of isolated rural electricity markets is combining the definitions of operators and the possible combinations of power supply options (purely thermal or hybrid system). It is anticipated that the rural electricity markets under consideration comprise of uncertainties in demand and supply (both demand and generation are modelled as random variables from assumed or estimated probability distributions). Demand is price sensitive and modelled as a product of two random variables, relative demand and peak demand. The price sensitivity of demand is shown by representing peak demand using an economic price-demand function. The parameters (price sensitivity and demand factor) of this function are modelled as random variables which reflect the randomness of consumers’ preferences. The simulation algorithm is based on the theory of correlated sampling, in order to compare the performance of systems under different operators. The thesis introduces the concept of nested Monte Carlo simulation to be able manage the simulation of different operators subjected to the same market conditions. The performance of electricity markets is assessed by analysing three parameters (tariffs, profit and reliability), which are random variables presented using probability distributions in form of duration curves. The methodology is tested on a theoretical case study system using load data obtained from a rural community in Africa.  The case study illustrates how to use the model, preparation of the input variables and how to use the output to estimate and assess the possible performance of isolated rural power systems under different power system operators. It is anticipated that the proposed methodology can be used by researchers, planners and academia as a tool for planning, estimating and assessing the performance of rural power systems in isolated areas of developing countries

>Magister Scientiae - MSc

In group coupon service, customers get merchandise or service which features significant discount from vendor and service provider. However, there are gaps generated during service delivery and had effect on repurchase intention. We extend the E-S-QUAL and HSQM to find the dimensions in respectively service quality. The purpose of this research is to learn how service quality of vendor and service quality of service provider influence the repurchase intention on vendor and service provider, moderating with price sensitivity dimension. PLS (partial least squared) is used to analyze our measurement and structural models. The results include: (1) key dimensions of service provider¡¦s service quality in group coupon service model and group coupon service model with recovery are interaction quality, physical environment, fulfillment, and policy. Dimensions of service quality of vendor in regular case are information quality, efficiency, system availability, and assurance, while dimensions of service quality of vendor in recovery case are responsiveness, compensation, and contact. (2) Service quality of service provider has greater effect on repurchase intention on vendor than service quality of vendor in regular case. (3) Price Sensitivity has no significant moderating effect on the relationship between service quality of service provider and repurchase intention on service provider with regular price. Our research contributes to the nascent body of group coupon advertisement format and offer unique insights for the vendor and service provider on the importance of each role and what should be concern for the future.

Pricing strategies (e.g. yield management) in the tourism industry, known as non-transparent pricing, have raised fairness issues, and more recently, new pricing schemes in the airline industry have been controversial issues in terms of price fairness. Nonetheless, few tourism researchers have studied price fairness from a consumer perspective. Thus, an understanding of the cognitive processes associated with perceived price fairness could have far-reaching implications for tourist behavior research. The purpose of this study was to examine the antecedents and consequences of tourists‟ perceived price fairness of the ancillary revenue (i.e. extra fees of airlines). In particular, a conceptual model was based on Weiner's (1980) attribution theory, which was expected to complement shortcomings of the traditional dual entitlement principle (Kahneman, Knetsch, and Thaler, 1986). Following the study purpose, four objectives of the study were established: (1) to examine the dimensionality of price fairness in a price change context; (2) to examine the antecedents of price fairness; (3) to examine the consequences of price fairness; and (4) to compare differences in the price fairness model between high and low price sensitivity groups. To achieve the study objectives, this study developed a conceptual model of price fairness with three antecedents (price comparison, cognitive attribution, and emotional response) and four consequences (behavioral loyalty, willingness to pay, complaining, and revenge), and determined the model that best predicted the hypothesized model using Structural Equation Modeling. Data were collected from an online survey and the respondents (n=524) were leisure travel passengers in the United States who had taken domestic flights in the past 12 months. The initial model fit the data well from a global perspective, yet, some hypotheses were not supported. Results suggested that price comparison evaluation and cognitive attribution are antecedents to price fairness, but emotional response was found to be influenced by price fairness as opposed to what was hypothesized. It was also revealed that while price fairness directly influenced favorable behavioral intentions (e.g. behavioral loyalty and willingness to pay more), it also influenced unfavorable behavioral intentions (e.g. revenge and complaining behavior), mediated by negative emotional response. The revised model was alternatively proposed. In addition, significant differences in price fairness, emotional response, willingness to pay more, and revenge intention between high and low price sensitivity groups were found. Results of this study provide potentially important direction for the development of a theoretical framework for the conceptualization of antecedents and consequences of price fairness in a tourism context. It is further expected that findings of this study from an attributional perspective provide managerial guidance for the utilization of marketing strategy when a company encounters inevitable price increases or extra fees.

Verslo mokymų rinka išgyvena dinamišką laikotarpį, kuris pasižymi mokymų apimčių didėjimu, naujų įmonių teikiančių tokias paslaugas atsiradimu. Augimo laikotarpiu daugelis tradicinių verslo problemų nėra aštrios, tačiau rinkai pasiekus brandos stadiją, situacija keičiasi. Kainodaros sprendimai – vieni sudėtingiausių ir turinčių didelį poveikį verslo stabilumui bei plėtrai. Šio darbo tikslas – padėti mokymus teikiančioms bendrovėms tvirčiau jaustis ieškant atsakymų į klausimus – kokie yra klientų segmentai pagal jautrumą kainai, radus šiuos atsakymus, didesnė tikimybė priimti teisingus plėtros sprendimus. Baigiamojo darbo tema: Lietuvos verslo mokymų rinkos segmentavimo galimybės taikant jautrumo kainai kriterijų. Darbo tikslas - nustatyti, kokios yra mokymų rinkos segmentavimo galimybės pagal jautrumą mokymo kainai. Darbo uždaviniai: 1. Išanalizuoti Lietuvos mokymo paslaugų rinką. 2. Surinkti duomenis apie šiuo metu Lietuvos mokymo paslaugų rinkoje taikomas kainas. 3. Atlikti kiekybinę apklausą, nustatant kainos jautrumo parametrus skirtingiems Lietuvos mokymo paslaugų klientams. 4. Pasiūlyti prioritetus, kaip Lietuvos mokymų rinka gali būti segmentuojama pagal jautrumą mokymo kainai ir kokie kainodaros metodai taikytini skirtingiems segmentams. Tyrimo metodika. Darbe buvo panaudotas kiekybinis tyrimo metodas - Westendorp „Price Sensitivity Meter“ („Kainos jautrumo nustatymo“) klausimynas. / The market of business training experiences dynamic time, which is characterized by an increasing scope of training and discovery of new enterprises providing such services. At the stage of development a lot of traditional business problems are not severe, however, when the market reaches the maturity stage the situation changes. Pricing solutions are one of the most complex and having a huge impact on business stability and expansion. The aim of the research is to help training providers to feel more confident while looking for an answer to the question – what are the client segments according to the price sensitivity. After having answered it, there is greater likelihood to take the right decisions in expansion. Theme: Application of Price Sensitivity Criterion in the Market of Business Training in Lithuania and its Segmentation Position Objectives: to determine the segmentation position of executive training market in applying the price sensitivity criterion. Aims of the research: 1. To analyze the market in the Training service sector of Lithuania. 2. To carry out analysis in price rates in the training sector in Lithuania. 3. To conduct a survey in order to set rice sensitivity parameters on different Lithuanian clients in the training service sector. To propose a method of how the training sector in Lithuania can be segmented according to the price sensitivity in training and what pricing methods could be applied to different segments... [to full text]

An A/B test is implemented on a SaaS rm's product page to examine the dierence in conversion rates from website visitors who are randomly assigned to two dierent product-landing pages that show dierent prices. To count as a successful conversion the visitors that view a product-landing page have to click on a \Free Trial" button. Half of the group will be assigned the treatment page, which will state higher prices and the other half will be assigned the controlled page, which will state today's current price. The only variant that will dier from the two pages will be the stated price of the product and all other factors will be kept constant. The controlled experiment is executed to get a sense of customers' price sensitivity, hence this thesis contributes to microeconomic research of the private sector, more specically to the ICT industry by using a novel approach with the help of A/B testing on prices. The results showed no statistical signicance difference between the two variations, which can be translated to accepting the null hypothesis; the demand for a particular Software-As-A-Service product will hold unchanged after the proposed price increase. At first, this could be a surprising result but when looking into the industry, which the rm participates in and their early mover advantages this result could have been assumed.