Consumer Surplus Under Demand Uncertainty

Cohen, Maxime C.; Perakis, Georgia; Thraves, Charles

doi:10.1111/poms.13554

Cited by 19 publications

(5 citation statements)

References 30 publications

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“…where CS represents the consumer surplus. Note that for a general random demand function, we refer to Cohen et al (2016) and Cohen et al (2022) to define the expression of consumer surplus under uncertain demand as follows…”

Section: Discussionmentioning

confidence: 99%

Analyzing rational decision‐making's effect: Empirical evidence from Green supply chain

Wang,

Zhang,

Peng

et al. 2024

Manage Decis Econ

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Under the global environmental degradation and intense competition, firms are increasingly resorting to green supply chains to achieve sustainability, and rational decision‐making by managers is unprecedented desired in management supply chain operations management. This study investigates the effect of rational decision‐making in green supply chains on environment, social welfare, and sustainability. Based on a sample of 856 firms that disclose green supply chain, we established a supply chain game theory model consisting of manufacturers and retailers, where retailers are risk averse, and used regression analysis to test hypotheses. We find that the micro‐level empirical evidence on rational decision‐making in green supply chain does exist—namely, rational decision‐making not only has a beneficial effect on the environment and social welfare, but also can improve the sustainability of the supply chain. The results give valuable insights to supply chain management in rational decision‐making and provide application recommendations for managers by constructing a strategic initiative for sustainable development.

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Section: Discussionmentioning

confidence: 99%

Analyzing rational decision‐making's effect: Empirical evidence from Green supply chain

Wang,

Zhang,

Peng

et al. 2024

Manage Decis Econ

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“…AI has been widely used in several areas of society over the past decade. The use of AI in business and management tends to have direct implications for firms' profits and consumer welfare (e.g., Cohen et al 2022b;Khernam-nuai et al 2022). Meanwhile, the public sector also utilizes AI in several functions, such as in the legal system (e.g., Cohen et al 2022aCohen et al , 2023 and in policy making (van Noordt and Misuraca 2022).…”

Section: Social Impact Of Artificial Intelligencementioning

confidence: 99%

Using AI to detect panic buying and improve products distribution amid pandemic

Adulyasak

Benomar²,

Chaouachi³

et al. 2023

AI & Soc

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The COVID-19 pandemic has triggered panic-buying behavior around the globe. As a result, many essential supplies were consistently out-of-stock at common point-of-sale locations. Even though most retailers were aware of this problem, they were caught off guard and are still lacking the technical capabilities to address this issue. The primary objective of this paper is to develop a framework that can systematically alleviate this issue by leveraging AI models and techniques. We exploit both internal and external data sources and show that using external data enhances the predictability and interpretability of our model. Our data-driven framework can help retailers detect demand anomalies as they occur, allowing them to react strategically. We collaborate with a large retailer and apply our models to three categories of products using a dataset with more than 15 million observations. We first show that our proposed anomaly detection model can successfully detect anomalies related to panic buying. We then present a prescriptive analytics simulation tool that can help retailers improve essential product distribution in uncertain times. Using data from the March 2020 panic-buying wave, we show that our prescriptive tool can help retailers increase access to essential products by 56.74%.

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“…Nie et al [37] examined the information sharing of market demand when a manufacturer produces both new and remanufactured products. Cohen et al [38] pointed out that demand uncertainty adversely affects consumer surpluses in many cases. In an empirical analysis of longitudinal data on Australian manufacturing, Bakhtiari and Breunig [39] show that new outsourcing and demand uncertainty has an asymmetric relationship.…”

Section: Literature Reviewmentioning

confidence: 99%

Decisions for Blockchain Adoption and Information Sharing in a Low Carbon Supply Chain

Yang

Yue

et al. 2022

Mathematics

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Enterprises in low-carbon supply chains have been exploring blockchain technology in order to make carbon data transparent. However, there is still some opaque information in the market, such as the value-added service efficiency. How do supply chain members make decisions between information sharing and blockchain adoption? This study considers blockchain adoption and information sharing in a low-carbon supply chain with a single manufacturer and a single retailer. The retailer has private information about value-added services and decides how to share it with the manufacturer. We examine six combined strategies comprised of blockchain scenarios and information sharing formats (no sharing, voluntary sharing, and mandatory sharing). The results indicate that supply chain members prefer blockchain technology under no sharing and voluntary sharing. Under mandatory sharing, supply chain members have incentives to participate in blockchain when the value-added service efficiency exceeds a threshold value. While the manufacturer prefers to obtain the value-added service information, the retailer decides to share information depending on the value-added service efficiency. Besides, supply chain members’ attitude toward the sharing contract also depends on the value-added service efficiency.

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Consumer Surplus Under Demand Uncertainty

Cited by 19 publications

References 30 publications

Analyzing rational decision‐making's effect: Empirical evidence from Green supply chain

Analyzing rational decision‐making's effect: Empirical evidence from Green supply chain

Using AI to detect panic buying and improve products distribution amid pandemic

Decisions for Blockchain Adoption and Information Sharing in a Low Carbon Supply Chain

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