Strategic Management of Distressed Inventory

It is well known that maximizing revenue from a fixed stock of perishable goods may require discounting prices rather than allowing unsold inventory to perish. This behavior is seen in industries ranging from fashion retail to tour packages and baked goods. A number of authors have addressed the markdown management problem in which a seller seeks to determine the optimal sequence of discounts to maximize the revenue from a fixed stock of perishable goods. However, merchants who consistently use markdown policies risk training customers to “wait for the sale.” We investigate models in which the decision to sell inventory at a discount will change the future expectations of customers and hence their buying behavior. We show that, in equilibrium, a single‐price policy is optimal if all consumers are strategic and demand is known to the seller. Relaxing any of these conditions can lead to a situation in which a two‐price markdown policy is optimal. We show using numerical simulation that if customers update their expectations of availability over time, then optimal sales limit policies can evolve in a complex fashion.     

Event-driven production scheduling in SME

One common problem among Small and Medium Enterprises (SME) is to don’t have at disposal formal and simple approaches for production scheduling, especially in case of an event that introduces the requirement of a re-planning. The paper approaches this kind of event-driven re-scheduling problems at the arrival of a new order, when some jobs are under processing, some operation have already finished and other jobs are waiting to be loaded on a machine. For a simple application in a SME, to the operations already started and completed for a job a processing time equal to zero is assigned; the operations already started but not yet completed are interrupted and considered as operations that must be executed for the remaining part of their processing time; all the other jobs are considered for the event-driven job-shop re-scheduling problem. A validation of the procedure in a realistic application is presented.     

Zygmunt Bauman und die Geschlechterforschung: Eine viel versprechende Liaison?

Bauman’s work plays an important role in post-modern and post-modernist sociology. However, his work has been barely discussed within feminist and gender theory. In my article, I offer a critical reading of Bauman’s work in the light of recent feminist debates concerning theories of subjectivation and discourse (esp. by Butler and Braidotti). This reading shows that, while Bauman’s notion of postmodernity as social diagnosis is much less subtle than gender theory has proven to be, his work on postmodernism is indeed quite along the lines of post-structuralist and post-modern feminist theory.     

Zambian Women in South Africa: Insights Into Health Experiences of Labia Elongation

Labia minora elongation consists in the manual stretching of the inner lips of the external genitalia. This practice is documented in east and southern Africa. The experiences of African women in the diaspora practicing elongation are not thoroughly understood. The purpose of this qualitative study was to explore the health harms and benefits associated with this practice of Zambian women who have migrated to Cape Town, South Africa. Twenty women and seventeen men participated in this study. Between December 2013 and May 2014, in-depth interviews and natural group discussions were conducted with the participants. The focus of this article is to report on the emic of the women related to notions of health, hygiene, and well-being. Labial elongation is perceived as a practice involving minor, short-term adverse effects that can be prevented by following some basic hygiene. Overall, personal and social value is placed on this practice because of its reported benefits for the sexual health of men and women, and for women's femininity and self-image. Further research is necessary on how female genital modifications influence Zambians’ sexual preferences to inform the development of culturally appropriate health promotion interventions.     

Stable syndicates of factor owners and distribution of social output: a Shapley value approach

The purpose of this paper is to examine the incentive of a player to join a syndicate in an environment of team production and payoff distribution according to Shapley value. We consider an economy in which a single output is produced by an increasing returns to scale production function using two inputs: labor and capital. By assuming that syndicates of factor owners can form, we are interested in their stability, i.e., the willingness of the members of the syndicate to stay in the syndicate. Our analysis, based on the Shapley value, allows us to find a fair imputation of the gains of cooperation and the conditions under which syndicates are stable.     

Informality and Contributory and Non‐Contributory Programmes. Recent Reforms of the Social‐Protection System in Uruguay

Several countries in Latin America are expanding their social‐protection systems. There is an on‐going debate about the trade‐offs implied by these expansions, and by the resulting interactions between contributory and non‐contributory programmes with informality in the labour market. This article analyses the potential incentive effects for formal and informal employment from a set of social‐protection reforms implemented in Uruguay in the 1990s and 2000s. It presents empirical evidence of the expansion of health insurance to formal workers' dependants, and finds that this reform significantly increased formal employment. Finally, it discusses possible alternatives to extend social‐protection systems while maintaining incentives for formal work in Latin America's labour markets.     

LONG‐RUN EFFECTS OF YOUTH TRAINING PROGRAMS: EXPERIMENTAL EVIDENCE FROM ARGENTINA

We study the effect of a job training program for low‐income youth in Cordoba, Argentina. The program included life‐skills and vocational training, as well as internships with private sector employers. Participants were allocated by means of a public lottery. We rely on administrative data on formal employment, employment spells, and earnings, to establish the effects of the program in the short term (18 months), but also—exceptionally for programs of this type in Latin America and in developing countries in general—in the medium term (33 months) and in the long term (48 months). The results indicate sizable gains of about 8 percentage points in formal employment in the short term (about 32% higher than the control group), although these effects dissipate in the medium and in the long term. Contrary to previous results for similar programs in the region, the effects are substantially larger for men, although they also seem to fade in the long run. Program participants also exhibit earnings about 40% higher than those in the control group, and an analysis of bounds indicates that these gains result from both higher employment levels and higher wages. The detailed administrative records also allow us to shed some light on the possible mechanisms underlying these effects. A dynamic analysis of employment transitions indicates that the program operated through an increase in the persistence of employment rather than from more frequent entries into employment. The earnings effect and the higher persistence of employment suggest that the program was successful in increasing the human capital of participants, although the transient nature of these results may also reflect better matches from a program‐induced increase in informal contacts or formal intermediation. (JEL J08, J24, J68, O15)