On the Benefit of Inventory‐Based Dynamic Pricing Strategies

We study the optimal pricing and replenishment decisions in an inventory system with a price‐sensitive demand, focusing on the benefit of the inventory‐based dynamic pricing strategy. We find that demand variability impacts the benefit of dynamic pricing not only through the magnitude of the variability but also through its functional form (e.g., whether it is additive, multiplicative, or others). We provide an approach to quantify the profit improvement of dynamic pricing over static pricing without having to solve the dynamic pricing problem. We also demonstrate that dynamic pricing is most effective when it is jointly optimized with inventory replenishment decisions, and that its advantage can be mostly realized by using one or two price changes over a replenishment cycle.     

Strategies to Improve the World Food Programme's Revenue Mobilisation and Procurement Practices

Currently, a vast majority of WFP food procurement is executed through spot markets, which exposes it to substantial commodity and transport price risk as well as significant delays in delivery. The WFP also has limited flexibility owing to unpredictable revenue mobilisation, partly driven by restricted donor contributions. However, a significant portion of its operations are fairly predictable – both in terms of countries and delivery volumes. There are several types of derivatives contracts available at commodities exchanges that can facilitate strategic hedging. Greater commitments of untied cash donations from the US and other major donors can give the WFP significant operational flexibility to execute prudent financial management operations without damaging local food markets.     

Parity of participation in liberal welfare states: human rights,neoliberalism, disability and employment

Governments continue to face challenges in implementing effective strategies to increase social and economic participation of people with disabilities. In a recent OECD high-level policy forum on Sickness, Disability and Work, the main policy message was the need for a culture of inclusion; with a dual focus on short-term active policy interventions and long-term structural reform. This paper examines policies in liberal welfare states that encourage people receiving disability benefits to participate in the labor market. Examples from the United States, the United Kingdom and Australia of active labor market programs aimed at moving people with disabilities from workfare are analyzed in the context of international disability rights and neoliberal discourse. The paper explores the extent to which new approaches to activation policies are facilitating parity of participation and factors that impact the effectiveness of these policies.     

Synesthetizing Sound Studies and the Sociology of Technology

This paper examines current issues at the intersection of the Sociology of Technology and the interdisciplinary field of Sound Studies. It begins with an overview of major social constructionist, interpretive semiotic, and actor–network theoretical sociological approaches to technology as developed within the field of Science and Technology Studies (STS). Considering the predominance of narrative visual metaphors in these approaches' treatment of socio‐technical perception, it is argued that the “turn to sound” in social studies of technology, rather than simply furnishing established analytic approaches with a fresh set of empirical cases (i.e. “sound technologies”), presents an opportunity to better sensitize STS approaches to the contingent socio‐technical shaping and distribution of embodied perceptual modalities in general. A critical review of recent social and historical studies of sound and technology, attending especially to debates surrounding the theoretical shift from acoustemological or soundscape‐based to signal‐oriented “transductive” approaches, suggests the importance for future STS and Sound Studies work of addressing how shared modes of sensory perception are produced within particular socio‐technical frames.     

COMPETITIVE BALANCE MEASURES IN SPORTS LEAGUES: THE EFFECTS OF VARIATION IN SEASON LENGTH

Appropriate measurement of competitive balance is central to the economic analysis of professional sports leagues. We examine the distributional properties of the ratio of standard deviations (RSD) of points percentages, the most widely used measure of competitive balance in the sports economics literature, in comparison with other standard‐deviation‐based measures. Simulation methods are used to evaluate the effects of changes in season length on the distributions of competitive balance measures for different distributions of the strengths of teams in a league. The popular RSD measure performs as expected only in cases of perfect balance; if there is imbalance in team strengths, its distribution is sensitive to changes in season length. It is therefore not recommended for comparisons of competitive balance for different sports leagues with different numbers of teams and/or games played. (JEL L83, D63, C63)     

Variance of the number of false discoveries

Summary.  In high throughput genomic work, a very large number d of hypotheses are tested based on n ≪ d data samples. The large number of tests necessitates an adjustment for false discoveries in which a true null hypothesis was rejected. The expected number of false discoveries is easy to obtain. Dependences between the hypothesis tests greatly affect the variance of the number of false discoveries. Assuming that the tests are independent gives an inadequate variance formula. The paper presents a variance formula that takes account of the correlations between test statistics. That formula involves O ( d ²) correlations, and so a naïve implementation has cost O ( nd ²). A method based on sampling pairs of tests allows the variance to be approximated at a cost that is independent of d .