Water scarcity, climate change, price volatility, agricultural output variability, and geo-political instability have determined new stressors and situations of risks that exert pressure on agro-ecological systems, farmers, people’s food security, and generally affect the well-being of the population. In recent times, resilience is seen as providing a new approach on how to analyse the effects of shocks and stressors that threaten people’s well-being. The question is whether there is a relationship between the inadequate access to basic services, as stressor of people’s physical access to food and food availability on the market, and food security, as an outcome of people’s well-being. Statistical data have been analysed with simple regression model. The case study of Romania is discussed, using twenty two observations. The main findings show that access to essential services, such as water and sanitation, are important in explaining household’s resilience capacity. Other stressors, such as rail lines density and road density, which determine the physical access to markets, have a less significant influence on food security. The relevance of the results lies in their capacity to emphasize the role of people’s access to basic needs in strengthening the resilience of individuals, families and regions, and to ensure, as a consequence, food security.
{"title":"The role of the population's access to basic needs in building resilience and ensuring food security: Case study of Romania","authors":"R. Ion","doi":"10.5937/ekopolj2002345r","DOIUrl":"https://doi.org/10.5937/ekopolj2002345r","url":null,"abstract":"Water scarcity, climate change, price volatility, agricultural output variability, and geo-political instability have determined new stressors and situations of risks that exert pressure on agro-ecological systems, farmers, people’s food security, and generally affect the well-being of the population. In recent times, resilience is seen as providing a new approach on how to analyse the effects of shocks and stressors that threaten people’s well-being. The question is whether there is a relationship between the inadequate access to basic services, as stressor of people’s physical access to food and food availability on the market, and food security, as an outcome of people’s well-being. Statistical data have been analysed with simple regression model. The case study of Romania is discussed, using twenty two observations. The main findings show that access to essential services, such as water and sanitation, are important in explaining household’s resilience capacity. Other stressors, such as rail lines density and road density, which determine the physical access to markets, have a less significant influence on food security. The relevance of the results lies in their capacity to emphasize the role of people’s access to basic needs in strengthening the resilience of individuals, families and regions, and to ensure, as a consequence, food security.","PeriodicalId":45567,"journal":{"name":"Ekonomika Poljoprivreda-Economics of Agriculture","volume":"67 1","pages":"345-357"},"PeriodicalIF":0.6,"publicationDate":"2020-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43937651","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Dragana Tekić, B. Mutavdžić, T. Novaković, Maja Pokuševski
Discriminant analysis and logistic regressions were applied in this research for the purpose of analyzing the development of autonomous province (AP) Vojvodina local self-government units, which are classified as developed and underdeveloped. The aim of the study is to identify population economic and social characteristics as the one with the most influence on the existence of differences between the observed categories of local self-government units. Based on the results of the discriminatory analysis, number of employed inhabitants per 1,000 inhabitants and number of highly educated inhabitants per 1000 inhabitants were found to have the greatest influence on the development of the local self-government unit, while based on logistic regression results, number of employed inhabitants per 1000 inhabitants and natural increase are the most influential factors. Both models have good data classification power, the discriminant analysis model successfully classifies 90.9% of all cases, and the logistic regression model successfully classifies 88.6% of cases.
{"title":"Analysis of development of local self-government units in Vojvodina","authors":"Dragana Tekić, B. Mutavdžić, T. Novaković, Maja Pokuševski","doi":"10.5937/ekopolj2002431t","DOIUrl":"https://doi.org/10.5937/ekopolj2002431t","url":null,"abstract":"Discriminant analysis and logistic regressions were applied in this research for the purpose of analyzing the development of autonomous province (AP) Vojvodina local self-government units, which are classified as developed and underdeveloped. The aim of the study is to identify population economic and social characteristics as the one with the most influence on the existence of differences between the observed categories of local self-government units. Based on the results of the discriminatory analysis, number of employed inhabitants per 1,000 inhabitants and number of highly educated inhabitants per 1000 inhabitants were found to have the greatest influence on the development of the local self-government unit, while based on logistic regression results, number of employed inhabitants per 1000 inhabitants and natural increase are the most influential factors. Both models have good data classification power, the discriminant analysis model successfully classifies 90.9% of all cases, and the logistic regression model successfully classifies 88.6% of cases.","PeriodicalId":45567,"journal":{"name":"Ekonomika Poljoprivreda-Economics of Agriculture","volume":"67 1","pages":"431-443"},"PeriodicalIF":0.6,"publicationDate":"2020-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46422386","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Economic development could be presented by gross domestic product to show how different factors affect the development. Gross domestic product could be affected by different nonlinear factors in positive or negative way. Hence it is suitable to apply artificial intelligence techniques in order to track the gross domestic product variation in depend on the factors. AI techniques require only input and output data pairs in order to catch the output variations based on the input factors. Therefore in this study adaptive neuro fuzzy inference system was applied in order to select the most relevant factors for gross domestic product growth rate. These factors are whole sale price index, consumer price index in urban areas, consumer price index in rural areas, state per capita income, exports, import and industry income. Results shown that the whole sale price index has the highest relevance on the gross domestic product growth rate.
{"title":"Gross domestic product growth rate analyzing based on price indexes, import and export factors","authors":"Biljana Petković, B. Kuzman, M. Barjaktarević","doi":"10.5937/ekopolj2002405p","DOIUrl":"https://doi.org/10.5937/ekopolj2002405p","url":null,"abstract":"Economic development could be presented by gross domestic product to show how different factors affect the development. Gross domestic product could be affected by different nonlinear factors in positive or negative way. Hence it is suitable to apply artificial intelligence techniques in order to track the gross domestic product variation in depend on the factors. AI techniques require only input and output data pairs in order to catch the output variations based on the input factors. Therefore in this study adaptive neuro fuzzy inference system was applied in order to select the most relevant factors for gross domestic product growth rate. These factors are whole sale price index, consumer price index in urban areas, consumer price index in rural areas, state per capita income, exports, import and industry income. Results shown that the whole sale price index has the highest relevance on the gross domestic product growth rate.","PeriodicalId":45567,"journal":{"name":"Ekonomika Poljoprivreda-Economics of Agriculture","volume":"67 1","pages":"405-415"},"PeriodicalIF":0.6,"publicationDate":"2020-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44343210","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
M. Jeremić, S. Zekić, Bojan Matkovski, Danilo Đokić, Žana Jurjević
As the pork supply chain was perceived through three level of chain: agricultural sector, processing and distribution sector, the main objective of this paper was the estimation of the vertical price transmission in the pork supply chain in the Republic of Serbia for period 2008-2015. The analysis of the price transmission was related on the presence of the asymmetry and was estimated with AECM model. The results indicated the presence of the negative asymmetry in the price transmission and one of the main causes of the presence of asymmetry was the abuse of the market power by processing sector, i.e. slaughtering industry.
{"title":"Price transmission analysis in pork supply chain in Serbia","authors":"M. Jeremić, S. Zekić, Bojan Matkovski, Danilo Đokić, Žana Jurjević","doi":"10.5937/ekopolj2002417j","DOIUrl":"https://doi.org/10.5937/ekopolj2002417j","url":null,"abstract":"As the pork supply chain was perceived through three level of chain: agricultural sector, processing and distribution sector, the main objective of this paper was the estimation of the vertical price transmission in the pork supply chain in the Republic of Serbia for period 2008-2015. The analysis of the price transmission was related on the presence of the asymmetry and was estimated with AECM model. The results indicated the presence of the negative asymmetry in the price transmission and one of the main causes of the presence of asymmetry was the abuse of the market power by processing sector, i.e. slaughtering industry.","PeriodicalId":45567,"journal":{"name":"Ekonomika Poljoprivreda-Economics of Agriculture","volume":"67 1","pages":"417-430"},"PeriodicalIF":0.6,"publicationDate":"2020-06-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44534883","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Using quarterly data from 2006 to 2019 (55 observations), this paper examines 18 Eurozone macroeconomic variables that represent monetary policy, external and construction sectors’ performance, economic growth, investment, households’ earnings, inflation and assesses their impact on the performance of the European listed real estate companies and REITs. Empirical results demonstrate that the European listed real estate market is strongly influenced by the supply side: the construction sector and the inflation of producers’ prices; while the demand side is strongly affected by the expansionary monetary policy of ECB. Furthermore, some primary findings propose that US expansionary monetary policy shocks have an effect on the European listed real estate market. This conclusion demands further thorough research.
{"title":"The Evaluation of the Impact of Macroeconomic Indicators on the Performance of Listed Real Estate Companies and Reits","authors":"Viktorija Cohen, Arūnas Burinskas","doi":"10.15388/ekon.2020.1.5","DOIUrl":"https://doi.org/10.15388/ekon.2020.1.5","url":null,"abstract":"Abstract Using quarterly data from 2006 to 2019 (55 observations), this paper examines 18 Eurozone macroeconomic variables that represent monetary policy, external and construction sectors’ performance, economic growth, investment, households’ earnings, inflation and assesses their impact on the performance of the European listed real estate companies and REITs. Empirical results demonstrate that the European listed real estate market is strongly influenced by the supply side: the construction sector and the inflation of producers’ prices; while the demand side is strongly affected by the expansionary monetary policy of ECB. Furthermore, some primary findings propose that US expansionary monetary policy shocks have an effect on the European listed real estate market. This conclusion demands further thorough research.","PeriodicalId":45567,"journal":{"name":"Ekonomika Poljoprivreda-Economics of Agriculture","volume":"1 1","pages":"79 - 92"},"PeriodicalIF":0.6,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89121143","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The tourism-poverty alleviation nexus is becoming an increasingly significant subject of academic inquiry within the tourism economics discourse. Using time series data from the World Bank (1995–2017) in a P-ARDL model, the present study explores the relationship between tourism (receipts from exports, the travel subsector, hospitality and accommodation subsector) and poverty alleviation (final household consumption) with tourism arrivals as the control variable within the context of the BRICS group. The results suggest that receipts from the travel subsector and exports met the a priori expectation – positively influencing poverty alleviation within BRICS nations in the long run. Contrastingly, receipts from the hospitality and accommodation subsector did not meet the a priori expectation of a positive sign, with the results indicating statistical insignificance in the long run. However, receipts from the hospitality and accommodation were found to only influence poverty alleviation in the short run. Relatedly, the results suggest that increases in consumption associated with growth in tourism arrivals did not influence poverty in the BRICS. The results point to the heterogeneity of the influence of tourism on poverty alleviation, whereby certain dimensions of tourism contribute to poverty alleviation in the long run and others do so in the short run. Based on these findings it is recommended that BRICS countries harness their tourism potential and promote intra-BRICS tourism to maximise the positive impact of travel and tourism export receipts on household consumption, which catalyses poverty alleviation.
{"title":"Exploring the Tourism-Poverty Alleviation Nexus in the Brics Group of Nations","authors":"R. Garidzirai, T. Matiza","doi":"10.15388/ekon.2020.1.6","DOIUrl":"https://doi.org/10.15388/ekon.2020.1.6","url":null,"abstract":"Abstract The tourism-poverty alleviation nexus is becoming an increasingly significant subject of academic inquiry within the tourism economics discourse. Using time series data from the World Bank (1995–2017) in a P-ARDL model, the present study explores the relationship between tourism (receipts from exports, the travel subsector, hospitality and accommodation subsector) and poverty alleviation (final household consumption) with tourism arrivals as the control variable within the context of the BRICS group. The results suggest that receipts from the travel subsector and exports met the a priori expectation – positively influencing poverty alleviation within BRICS nations in the long run. Contrastingly, receipts from the hospitality and accommodation subsector did not meet the a priori expectation of a positive sign, with the results indicating statistical insignificance in the long run. However, receipts from the hospitality and accommodation were found to only influence poverty alleviation in the short run. Relatedly, the results suggest that increases in consumption associated with growth in tourism arrivals did not influence poverty in the BRICS. The results point to the heterogeneity of the influence of tourism on poverty alleviation, whereby certain dimensions of tourism contribute to poverty alleviation in the long run and others do so in the short run. Based on these findings it is recommended that BRICS countries harness their tourism potential and promote intra-BRICS tourism to maximise the positive impact of travel and tourism export receipts on household consumption, which catalyses poverty alleviation.","PeriodicalId":45567,"journal":{"name":"Ekonomika Poljoprivreda-Economics of Agriculture","volume":"69 1","pages":"93 - 109"},"PeriodicalIF":0.6,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75051410","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract A new causal simulation model of economic development was created, which comprehensively in detail and fully reflects various types of legal and shadow economic activities and their interrelations. The model is used to forecast the whole (legal and shadow) country’s economy up to 2022. The dynamics of shadow and legal indicators are different. The biggest and most important difference is about exports and imports. Official statistics give a negative balance of the Ukrainian foreign trade of Ukraine in 2019-22. However, total export, determined by the model, considerably exceeds imports, so actually we expect a surplus. This is very important for the National Bank: its policy based on the official (legal) negative balance of Ukraine foreign trade should be one (throw foreign currency reserves into the market or to devalue the hryvnia), but with the actual balance that includes shadow flows and is positive, - contrary one (to buy currency on the market or to revalue the national currency). Our model calculates how the production volumes of all types of goods and services should change to ensure that supply and demand are balanced. These numbers can serve a reference for manufacturers. We suggested that the relevant Ukrainian authorities take an active position in the implementation of the developed forecast for the economic development of Ukraine: measuring actual rates of changes in the production of these types of goods during the year, they provide recommendations to producers to increase or decrease their production.
{"title":"Short-Term Forecast of Ukrainian Economy Including Shadow Sector Using Causal Simulation Model","authors":"Yuriy Vasylenko","doi":"10.15388/ekon.2020.1.8","DOIUrl":"https://doi.org/10.15388/ekon.2020.1.8","url":null,"abstract":"Abstract A new causal simulation model of economic development was created, which comprehensively in detail and fully reflects various types of legal and shadow economic activities and their interrelations. The model is used to forecast the whole (legal and shadow) country’s economy up to 2022. The dynamics of shadow and legal indicators are different. The biggest and most important difference is about exports and imports. Official statistics give a negative balance of the Ukrainian foreign trade of Ukraine in 2019-22. However, total export, determined by the model, considerably exceeds imports, so actually we expect a surplus. This is very important for the National Bank: its policy based on the official (legal) negative balance of Ukraine foreign trade should be one (throw foreign currency reserves into the market or to devalue the hryvnia), but with the actual balance that includes shadow flows and is positive, - contrary one (to buy currency on the market or to revalue the national currency). Our model calculates how the production volumes of all types of goods and services should change to ensure that supply and demand are balanced. These numbers can serve a reference for manufacturers. We suggested that the relevant Ukrainian authorities take an active position in the implementation of the developed forecast for the economic development of Ukraine: measuring actual rates of changes in the production of these types of goods during the year, they provide recommendations to producers to increase or decrease their production.","PeriodicalId":45567,"journal":{"name":"Ekonomika Poljoprivreda-Economics of Agriculture","volume":"56 1","pages":"131 - 145"},"PeriodicalIF":0.6,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88226169","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The purpose of this study is to determine the relationship between monetary policy and the exchange market pressure index in Turkey for the 2002–2018 period with monthly data. To obtain the foreign exchange market pressure index, this study uses the model developed by L. Girton and D.E. Roper and is based fundamentally on the monetary approach to exchange rate determination and the balance of payments. The calculated exchange market pressure index is in accordance with the developments lived in financial markets and changes in monetary policy during the period under investigation. As for the relation between exchange market pressure index and monetary policy, a VAR model was set up and a Granger type causality analysis was carried out. According to Granger causality test results, there is a unidirectional causality running from domestic credit expansion to exchange market pressure and from domestic credit expansion to interest rate differential while there is a bidirectional causality between exchange market pressure and interest rate differential. Since increasing exchange market pressure means a depreciation of the Turkish Lira, the estimated VAR model’s results support the view that the Central Bank will increase the interest rate to temper the exchange market pressure.
{"title":"Exchange Market Pressure and Monetary Policy: The Turkish Case","authors":"I. Siklar, A. Akça","doi":"10.15388/ekon.2020.1.7","DOIUrl":"https://doi.org/10.15388/ekon.2020.1.7","url":null,"abstract":"Abstract The purpose of this study is to determine the relationship between monetary policy and the exchange market pressure index in Turkey for the 2002–2018 period with monthly data. To obtain the foreign exchange market pressure index, this study uses the model developed by L. Girton and D.E. Roper and is based fundamentally on the monetary approach to exchange rate determination and the balance of payments. The calculated exchange market pressure index is in accordance with the developments lived in financial markets and changes in monetary policy during the period under investigation. As for the relation between exchange market pressure index and monetary policy, a VAR model was set up and a Granger type causality analysis was carried out. According to Granger causality test results, there is a unidirectional causality running from domestic credit expansion to exchange market pressure and from domestic credit expansion to interest rate differential while there is a bidirectional causality between exchange market pressure and interest rate differential. Since increasing exchange market pressure means a depreciation of the Turkish Lira, the estimated VAR model’s results support the view that the Central Bank will increase the interest rate to temper the exchange market pressure.","PeriodicalId":45567,"journal":{"name":"Ekonomika Poljoprivreda-Economics of Agriculture","volume":"34 1","pages":"110 - 130"},"PeriodicalIF":0.6,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83688176","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract The article aims at ascertaining the relationship between indicators affecting the green economic growth of the Eurozone countries. Despite extensive research, scientists have not yet found a clear answer as to whether economic growth and climate change mitigation can be aligned. Another important aspect of the study was to investigate the possible effect of environmental policies on macroeconomic variables such as GDP, investment, employment, and trade. The authors of the article applied the PVAR econometric model to measure the impact of energy consumption, CO2 emissions, and some of the macroeconomic indicators on GDP growth in 19 countries of the Eurozone for years 2000–2016. Based on the results, we cannot yet state explicitly that economic growth in the Eurozone countries has been decoupled from climate change mitigation; however, green transition is on the right track.
{"title":"The Relationships between Economic growth, Energy Efficiency and CO2 Emissions: Results for the Euro Area","authors":"V. Klyvienė, Angele Kedaitiene","doi":"10.15388/ekon.2020.1.1","DOIUrl":"https://doi.org/10.15388/ekon.2020.1.1","url":null,"abstract":"Abstract The article aims at ascertaining the relationship between indicators affecting the green economic growth of the Eurozone countries. Despite extensive research, scientists have not yet found a clear answer as to whether economic growth and climate change mitigation can be aligned. Another important aspect of the study was to investigate the possible effect of environmental policies on macroeconomic variables such as GDP, investment, employment, and trade. The authors of the article applied the PVAR econometric model to measure the impact of energy consumption, CO2 emissions, and some of the macroeconomic indicators on GDP growth in 19 countries of the Eurozone for years 2000–2016. Based on the results, we cannot yet state explicitly that economic growth in the Eurozone countries has been decoupled from climate change mitigation; however, green transition is on the right track.","PeriodicalId":45567,"journal":{"name":"Ekonomika Poljoprivreda-Economics of Agriculture","volume":"23 1","pages":"6 - 25"},"PeriodicalIF":0.6,"publicationDate":"2020-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89315324","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract A modern effective business model involves the use of an appropriate pricing strategy. However, what matters is not only short-term profitability but also the long-term loyalty of clients. The main purpose of this paper is to present a specific transactional pricing strategy for a second-hand goods resale exchange platform that allows to avoid the possible negative outcomes of being associated with consumer discrimination. Using a simulation modeling approach, it was shown how customer segmentation combined with transactional pricing can help gain higher profitability. The model is based on the work of intelligent agents that recreate the full product lifecycle. Changing the input parameters of the model, it is possible to simulate different scenarios of a company’s activity and market conditions. The model supports the inclusion of any number of products, while its intelligent agents’ methods are still flexible to be replaced with other techniques. The simulation model has shown that the use of transactional pricing can increase the profitability of a business while keeping its clients loyal.
{"title":"Model of a Second-Hand Goods Resale Exchange under Transactional Pricing Strategy","authors":"I. Iarmolenko, G. Chornous","doi":"10.15388/ekon.2020.1.4","DOIUrl":"https://doi.org/10.15388/ekon.2020.1.4","url":null,"abstract":"Abstract A modern effective business model involves the use of an appropriate pricing strategy. However, what matters is not only short-term profitability but also the long-term loyalty of clients. The main purpose of this paper is to present a specific transactional pricing strategy for a second-hand goods resale exchange platform that allows to avoid the possible negative outcomes of being associated with consumer discrimination. Using a simulation modeling approach, it was shown how customer segmentation combined with transactional pricing can help gain higher profitability. The model is based on the work of intelligent agents that recreate the full product lifecycle. Changing the input parameters of the model, it is possible to simulate different scenarios of a company’s activity and market conditions. The model supports the inclusion of any number of products, while its intelligent agents’ methods are still flexible to be replaced with other techniques. The simulation model has shown that the use of transactional pricing can increase the profitability of a business while keeping its clients loyal.","PeriodicalId":45567,"journal":{"name":"Ekonomika Poljoprivreda-Economics of Agriculture","volume":"19 1","pages":"69 - 78"},"PeriodicalIF":0.6,"publicationDate":"2020-05-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76766965","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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