In this paper we employ an agent-based industry simulation model to study the effects of the interplay between individual firms’ market evaluation strategies on the extent of product innovations and overall industry development. In particular, we show that a homogenous industry consisting of companies with focus on historical profits yields high overall industry profits but is very unstable. Th...

A closed-loop supply chain recovery model with single manufacturer, single retailer and two competitive third-party recyclers is established with the application of game theory. This paper focuses on analyzing the optimal pricing decisions and profits of all the enterprises members in the decentralized structure. Through the analysis of model, the result shows that the manufacturer’s transfer p...

Within the current Internet, autonomous ISPs implement bilateral agreements, with each ISP establishing agreements that suit its own local objective to maximize its profit. Peering agreements based on local views and bilateral settlements, while expedient, encourage selfish routing strategies and discriminatory interconnections. From a more global perspective, such settlements reduce aggregate ...

As more non-profits embrace social enterprise, it is important to examine the role enterprise plays in society. Market failure prevailing economic theory explaining non-profits’ existence, and applies enterprise. However, market presents a contradiction: how can activities address failures if they use market-based strategies that led failure? We resolve this contradiction by identifying two res...

The study of profits is important not only because of the information it provides about the health of the economy in any given year, but also because profits are a key determinant of growth and employment in the medium-term. Changes in profitability are an important contributor to economic progress via the influence profits have on the investment and savings decisions of companies. This is beca...

Social influence has been shown to create significant unpredictability in cultural markets, providing one potential explanation why experts routinely fail at predicting commercial success of cultural products. As a result, social influence is often presented in a negative light. Here, we show the benefits of social influence for cultural markets. We present a policy that uses product quality, a...