An appropriate advertising mode selection and allocation of advertising budgets considering advertising budget constraints are developed with the game theory and optimization model.The results show that the advertisin...An appropriate advertising mode selection and allocation of advertising budgets considering advertising budget constraints are developed with the game theory and optimization model.The results show that the advertising budget and the weakening factor of the online advertising effects on the traditional advertising affect sellers advertising,pricing strategies and budget allocation.The effectiveness of combination advertising is a Pareto optimum relative to the traditional advertising in a certain range.The weakening effect of the online advertising on the traditional advertising has a nonlinear effect on the advertising strategy and pricing strategy.In addition,sellers choose combination advertising with different budget constraints,and there is an optimal budget allocation ratio.In certain cases,sellers can obtain an optimal advertising expenditure less than the budget constrain.When sellers adopt combination advertising with enough budget,they do not invest in traditional advertising without limit.Moreover,compared with enough budget,when sellers adopt combination advertising with budget constrain,sellers do not decrease the advertising allocation of online advertising since online advertising is more efficient.展开更多
Historical analysis of the market economy indicates that soft budget constraint is becoming increasingly pervasive and broad-rooted. Using an analysis of micro-level entities in the market economy, this paper describe...Historical analysis of the market economy indicates that soft budget constraint is becoming increasingly pervasive and broad-rooted. Using an analysis of micro-level entities in the market economy, this paper describes how soft constraint derives from interdependence among corporations, banks, and the government. Soft constraint is explained in relation to changes in concentrated shareholding ownership, the increasing dominance of the financial sector, and financial insurance. We conclude： 1） concentrated shareholding ownership and institutionalized soft budget constraint create sub-optimal allocation of resources in the market economy; 2） neoclassical microeconomic principles cannot explain the economic actions of organizations in the market economy and should be revised; 3） externalities associated with soft budget constraint have spread across the globe to become both the cause and primary effect of cyclic global financial and economic crises. Hence, the government, banks, and the corporate sector must work together to overhaul supervisory mechanisms. On a global level, governments must collaborate to build a new international economic order. Correcting imbalances in international reserve currencies and fortifying administration of cross-national economic organizations will mitigate the effects of soft budget constraint.展开更多
This paper aims to inquire into an objectively authentic budget constraint in a monetary economy through showing two missing problems of the monetary budget constraint and their solutions. To start with, we show the f...This paper aims to inquire into an objectively authentic budget constraint in a monetary economy through showing two missing problems of the monetary budget constraint and their solutions. To start with, we show the first missing problem that money is “missing” if all agents expend their total budgets under the simple budget constraint. This problem shows that the simple budget constraint is inadequate as an objective monetary budget constraint. A deficiency of the simple budget constraint exists partly in that it does not reflect money circulation. To improve this deficiency, we incorporate the expenditure reflux formula into the simple constraint. The first missing problem is partially solved by the application of this reflux budget constraint, but another problem occurs. The new problem is that infinite expenditure is permitted under this constraint. This is the second missing problem. The second problem appears to be a variation of the solvability problem of the money circulation equation. Referring to the proof of the solvability, we incorporate a time irreversible disposal into the budget constraint. This irreversibility budget constraint brings us a provisional solution of the missing problems. However, it should not be called a perfect solution. We also examine the relationships between our research and two previous studies: the finance constraint and the cash-in-advance model.展开更多
The COVID-19 outbreak has caused uncertainty risk surges,increased sustainable supply chain vulnerabilities,and challenges to sustainable supply chain resilience(SSCR)management.Therefore,improving SSCR is necessary t...The COVID-19 outbreak has caused uncertainty risk surges,increased sustainable supply chain vulnerabilities,and challenges to sustainable supply chain resilience(SSCR)management.Therefore,improving SSCR is necessary to alleviate vulnerabilities,and SSCR management must generate large capital investments.However,the economic downturn brought about by the COVID-19 epidemic has made some companies have limited budgets that can be used to improve SSCR.Therefore,the design of resilience solutions needs to fully consider the constraints of budgetary costs.Most of the existing related literature only discusses optimal resilience solutions under certain cost constraints,so such resilience solutions cannot be applied to most enterprises.In this study,we set the cost constraint as a variable quantity,using resilience efficiency and customer satisfaction as indicators,to determine the changing laws of optimal resilience strategies when cost constraints change.These rules can be applied to enterprises with different budgeted costs.Our findings suggest that companies should prioritize sacrificing resilience measures(RMs)related to adaptive capacity when budget costs gradually decline,and RMs related to absorptive capacity are indispensable at all budget levels.Furthermore,the pursuit of environmental and social sustainability cannot be abandoned,no matter how limited the flexible budget may be.展开更多
A homogenous multi-unit auction model is studied in two conditions： One is that the bidders face budget constraints and another is that the bidders do not face budget constraints. Two equilibrium bidding strategies o...A homogenous multi-unit auction model is studied in two conditions： One is that the bidders face budget constraints and another is that the bidders do not face budget constraints. Two equilibrium bidding strategies of each bidder are presented in these two conditions. By comparing them, the authors show that the equilibrium unit price bid in the presence of budget constraints will be less than that in the absence of budget constraints. The difference between the two equilibrium bids leads to the reduced revenue of the seller. And this difference will decrease as the number of the bidders increases.展开更多
Cost-effectiveness analysis（CEA） is increasingly important in health care decision making.Cost-effectiveness threshold is a critical parameter in the cost-effectiveness analysis.This review introduces the concept of...Cost-effectiveness analysis（CEA） is increasingly important in health care decision making.Cost-effectiveness threshold is a critical parameter in the cost-effectiveness analysis.This review introduces the concept of cost-effectiveness threshold, summarizes its determining methods,and classifies the existing methods into two kinds according to budget constraints,then analyzes the merit and demerit of every methods.When there is a flexible budget,the methods for determining the cost-effectiveness threshold include inferring the threshold from previous decisions,comparison with other health care technology or transfer from elsewhere in the public sector,social willingness-to-pay approach,GDP per capita criteria,and rule of thumb.When there is a fixed budget,the methods for determining the cost-effectiveness threshold include shadow price approach,opportunity cost approach,and ICER threshold-searcher model.Each approach to determining threshold has its strength and weakness.The aim of this article is to introduce the existing methods and discuss the features of each method.The background information,such as the definition of threshold,is also described.The basic theory of cost-effectiveness threshold is elaborated,and we recommend the establishment of a cost-effectiveness threshold in the Chinese health care.展开更多
基金The National Natural Science Foundation of China(No.71371050)
文摘An appropriate advertising mode selection and allocation of advertising budgets considering advertising budget constraints are developed with the game theory and optimization model.The results show that the advertising budget and the weakening factor of the online advertising effects on the traditional advertising affect sellers advertising,pricing strategies and budget allocation.The effectiveness of combination advertising is a Pareto optimum relative to the traditional advertising in a certain range.The weakening effect of the online advertising on the traditional advertising has a nonlinear effect on the advertising strategy and pricing strategy.In addition,sellers choose combination advertising with different budget constraints,and there is an optimal budget allocation ratio.In certain cases,sellers can obtain an optimal advertising expenditure less than the budget constrain.When sellers adopt combination advertising with enough budget,they do not invest in traditional advertising without limit.Moreover,compared with enough budget,when sellers adopt combination advertising with budget constrain,sellers do not decrease the advertising allocation of online advertising since online advertising is more efficient.
文摘Historical analysis of the market economy indicates that soft budget constraint is becoming increasingly pervasive and broad-rooted. Using an analysis of micro-level entities in the market economy, this paper describes how soft constraint derives from interdependence among corporations, banks, and the government. Soft constraint is explained in relation to changes in concentrated shareholding ownership, the increasing dominance of the financial sector, and financial insurance. We conclude： 1） concentrated shareholding ownership and institutionalized soft budget constraint create sub-optimal allocation of resources in the market economy; 2） neoclassical microeconomic principles cannot explain the economic actions of organizations in the market economy and should be revised; 3） externalities associated with soft budget constraint have spread across the globe to become both the cause and primary effect of cyclic global financial and economic crises. Hence, the government, banks, and the corporate sector must work together to overhaul supervisory mechanisms. On a global level, governments must collaborate to build a new international economic order. Correcting imbalances in international reserve currencies and fortifying administration of cross-national economic organizations will mitigate the effects of soft budget constraint.
文摘This paper aims to inquire into an objectively authentic budget constraint in a monetary economy through showing two missing problems of the monetary budget constraint and their solutions. To start with, we show the first missing problem that money is “missing” if all agents expend their total budgets under the simple budget constraint. This problem shows that the simple budget constraint is inadequate as an objective monetary budget constraint. A deficiency of the simple budget constraint exists partly in that it does not reflect money circulation. To improve this deficiency, we incorporate the expenditure reflux formula into the simple constraint. The first missing problem is partially solved by the application of this reflux budget constraint, but another problem occurs. The new problem is that infinite expenditure is permitted under this constraint. This is the second missing problem. The second problem appears to be a variation of the solvability problem of the money circulation equation. Referring to the proof of the solvability, we incorporate a time irreversible disposal into the budget constraint. This irreversibility budget constraint brings us a provisional solution of the missing problems. However, it should not be called a perfect solution. We also examine the relationships between our research and two previous studies: the finance constraint and the cash-in-advance model.
基金was supported by the Social Science Fund of Liaoning Province(Grant No.L21CGL004).
文摘The COVID-19 outbreak has caused uncertainty risk surges,increased sustainable supply chain vulnerabilities,and challenges to sustainable supply chain resilience(SSCR)management.Therefore,improving SSCR is necessary to alleviate vulnerabilities,and SSCR management must generate large capital investments.However,the economic downturn brought about by the COVID-19 epidemic has made some companies have limited budgets that can be used to improve SSCR.Therefore,the design of resilience solutions needs to fully consider the constraints of budgetary costs.Most of the existing related literature only discusses optimal resilience solutions under certain cost constraints,so such resilience solutions cannot be applied to most enterprises.In this study,we set the cost constraint as a variable quantity,using resilience efficiency and customer satisfaction as indicators,to determine the changing laws of optimal resilience strategies when cost constraints change.These rules can be applied to enterprises with different budgeted costs.Our findings suggest that companies should prioritize sacrificing resilience measures(RMs)related to adaptive capacity when budget costs gradually decline,and RMs related to absorptive capacity are indispensable at all budget levels.Furthermore,the pursuit of environmental and social sustainability cannot be abandoned,no matter how limited the flexible budget may be.
基金supported by the National Natural Science Foundation of China under Grant No.70771041the Scientific Research Foundation for the Returned Overseas Chinese Scholars from State Education Ministry
文摘A homogenous multi-unit auction model is studied in two conditions： One is that the bidders face budget constraints and another is that the bidders do not face budget constraints. Two equilibrium bidding strategies of each bidder are presented in these two conditions. By comparing them, the authors show that the equilibrium unit price bid in the presence of budget constraints will be less than that in the absence of budget constraints. The difference between the two equilibrium bids leads to the reduced revenue of the seller. And this difference will decrease as the number of the bidders increases.
文摘Cost-effectiveness analysis（CEA） is increasingly important in health care decision making.Cost-effectiveness threshold is a critical parameter in the cost-effectiveness analysis.This review introduces the concept of cost-effectiveness threshold, summarizes its determining methods,and classifies the existing methods into two kinds according to budget constraints,then analyzes the merit and demerit of every methods.When there is a flexible budget,the methods for determining the cost-effectiveness threshold include inferring the threshold from previous decisions,comparison with other health care technology or transfer from elsewhere in the public sector,social willingness-to-pay approach,GDP per capita criteria,and rule of thumb.When there is a fixed budget,the methods for determining the cost-effectiveness threshold include shadow price approach,opportunity cost approach,and ICER threshold-searcher model.Each approach to determining threshold has its strength and weakness.The aim of this article is to introduce the existing methods and discuss the features of each method.The background information,such as the definition of threshold,is also described.The basic theory of cost-effectiveness threshold is elaborated,and we recommend the establishment of a cost-effectiveness threshold in the Chinese health care.
