In this paper we build a pragmatic model on competition in oligopoly markets. To achieve this goal, we use an approach based on studying the response functions of each market participant, thus making it possible to address both Cournot and Bertrand industrial structures with a unified formal method. In contrast to the restrictive theoretical constructs of duopoly equilibrium, our study is able to account for real-world limitations like minimal sustainable production levels and exclusive access to certain resources. We prove and demonstrate that by using carefully constructed response functions it is possible to build and calibrate a model that reflects different competitive strategies used in extremely concentrated markets. The response functions approach makes it also possible to take into consideration different barriers to entry. By fitting to the response functions rather than the profit maximization of the payoff functions problem we alter the classical optimization problem to a problem of coupled fixed points, which has the benefit that considering corner optimum, corner equilibria and convexity condition of the payoff function can be skipped.
The goal of this study is to examine and identify the factors influencing customer attitude toward and intention to use digital wallets (electronic wallets, e-wallets) during and after the COVID-19 pandemic. A total of 257 correctly fulfilled questionnaires from an online survey were summarized. The main features of e-wallet payment systems were classified with a focus on consumer satisfaction via the integration of classic and modern data analysis methods. Structural Equation Modeling (SEM) was preferred to reveal the dependencies between the variables from e-wallets users’ perspective. The designed model can discover and explain the underlying relationships that determine the e-wallets’ adoption mechanism. The obtained results lead to specific recommendations to stakeholders in the value chain of payment processing. Financial regulatory authorities could employ the presented results in planning the development of payment systems. E-commerce marketers could utilize the proposed methodology to assess, compare and select an alternative way for order payment. E-wallet service providers could establish a reliable multi-criteria system for the evaluation of digital wallet adoption. Being aware of the most important components of e-wallets value, managers can more effectively run and control payment platforms, enhance customer experience, and thus improve the company’s competitiveness. As the perceived value of customer satisfaction is subjective and dynamic, measurements and data analysis should be conducted periodically.
We have obtained a new class of ordered pairs of multivalued maps that have pairs of coupled fixed points. We illustrate the main result with two examples that cover a wide range of models. We apply the main result in models in duopoly markets to get a market equilibrium and in aquatic ecosystems, also to get an equilibrium.
Access to finance for the creative industries can be difficult, mainly due to the intangible nature of their assets and collateral, the limited scale of the market, the uncertainty of demand and the lack of expertise on the part of financial intermediaries, taking into account the specificities of the creative industry. Every organization should know the "life cycle of the project". It represents a sequence of phases (stages) in the development of the project from its beginning to its end. Splitting the phase design allows for better and more efficient implementation and management. The aim of this article is to analyze, through in-depth analysis, the difficulties associated with the development, implementation and management of projects by the creative industries. These gaps in the skills of art managers were found after a survey based on an in-depth interview in the city of Plovdiv, Bulgaria. This article reflects the results of the empirical study. The survey was conducted among 105 organizations and their managers working in the field of creative and recreational industries and identified gaps in project management, resource management, people, and risk assessment. Risk management is an element of the financial management of any organization, including art organizations. Good risk management is a guarantee for success and the achievement of the goals of art organizations. The environment in which the art develops is dynamic, provocative, and it requires an up-to-date risk assessment, which in turn is a requirement for knowing the stages, methods and mechanisms of risk reduction to dimensions that will give reasonable assurance to the organization's art management that the goals will be achieved.
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