Medicines constitute a substantial proportion of out-of-pocket (OOP) expenses in Indian households. In order to address this issue, the Government of India launched the Jan Aushadhi (Medicine for the Masses) Scheme (JAS) to provide cheap generic medicines to the patients (http://janaushadhi.gov.in/about_jan_aushadhi.html). These medicines are provided through the Jan Aushadhi stores established...

We use experimental methods to demonstrate the anti-competitive potential of price matching guarantees in both symmetric and asymmetric cost duopolies. Our findings establish that when costs are symmetric, price-matching guarantees significantly increase market prices. In markets with cost asymmetries, guaranteed prices remain high relative to prices without the use of guarantees, but the overa...

Sticky-price models often suggest that relative price distortion is a major cost of in‡ation. We provide an intuition for this: Even at low rates, in‡ation strongly a¤ects price dispersion which in turn has an impact on the economy qualitatively similar to, and of the order of magnitude of, a negative shift in productivity. The utility cost of price dispersion is quanti…ed and its impact on opt...

The model shows how a regulated monopolist’s price should change as random cost and demand parameters are revealed. The regulator has a Ramsey-type problem. With a linear tariff a trade-off between allocative efficiency and risk sharing typically exists. The attitudes of the consumer and the firm to both income and price risk determine how the price should move. Sufficient conditions are found ...

This paper analyzes the role of verification of product availability in the context of competitive price-matching guarantees (PMGs). PMGs involve a retailer matching any lower price offered by competition for an identical item. Until now, researchers focused on the scenario where customers can receive the lower price with a simple proof (e.g., weekly flyers). However, in reality, retailers rese...

The Dixit entry/exit real option model was applied to the entry/exit decisions of New York dairy farmers. For the cost structure of a 500-cow farm the entry milk price is $17.52 per hundredweight (cwt.) and the exit milk price is $10.84. For the 50-cow farm cost structure the entry price is higher at $23.71 per cwt., and the exit price is also higher at $13.48. If infinite numbers of representa...

This study examines the productivity changes of decision making units in situation whereinput price vectors are varying between them and inputs are heterogeneous; that is a noncompetitivemarket. We present a directional measure of cost Malmquist productivity indexwhere incorporates the decision maker's preference over productivity change over time. Asimple numerical example is designed to illus...

Changes in production cost always lead to changes in wholesale and retail price. How to adjust the wholesale price, retail price and order quantity in order to derive an optimal strategy for the supplier and the retailer is one of the most perplexing problems. The purpose of this study is to develop a strategy to maximize the expected profit by simultaneously determining the adjustment ratio o...

The Australian Brahman Cross (BX) cattle industry is very modern. They have created a comprehensive system guided by the principles of animal welfare. importation BX companies in Indonesia will be bound Exporter Supply Chain Assurance System (ESCAS) regulations. This study aimed to evaluate current increased price and fattening cost feeder along with ESCAS additional on slaughtered their Based ...