”Bricks vs. Clicks”: The impact of manufacturer encroachment with a dealer leasing and selling of durable goods

In durable goods markets, many brand name manufacturers, including IBM, HP, Epson, and Lenovo, have adopted dual-channel supply chains to market their products. There is scant literature, however, addressing the product durability and its impact on players’ optimal strategies in a dual-channel supply chain. To fill this void, we consider a two-period dual-channel model in which a manufacturer sells a durable product directly through both a manufacturer-owned e-channel and an independent dealer who adopts a mix of selling and leasing to consumers. Our results show that the manufacturer begins encroaching into the market in Period 1, but the dealer starts withdrawing from the retail channel in Period 2. Moreover, as the direct selling cost decreases, the equilibrium quantities and wholesale prices become quite angular and often nonmonotonic. Among other results, we find that both the dealer and the supply chain may benefit from the manufacturer’s encroachment. Our results also indicate that both the market structure and the nature of competition have an important impact on the player’s (dealer’s) optimal choice of leasing and selling.

'Her Britannic Majesty' (short story)

Short story

A Holistic vs. an Attribute-based Approach to Agri-Environmental Policy Valuation: Do Welfare Estimates Differ?

Different economic valuation methodologies can be used to value the non-market benefits of an agri-environmental scheme. In particular, the non-market value can be examined by assessing the public's willingness to pay for the policy outputs as a whole or by modelling the preferences of society for the component attributes of the rural landscape that result from the implementation of the policy. In this article we examine whether the welfare values estimated for an agri-environmental policy are significantly different between an holistic valuation methodology (using contingent valuation) and an attribute-based valuation methodology (choice experiment). It is argued that the valuation methodology chosen should be based on whether or not the overall objective is the valuation of the agri-environment policy package in its entirety or the valuation of each of the policy's distinct environmental outputs.

1D-Leaky Wave Antenna Employing Parallel-Plate Waveguide Loaded With PRS and HIS

A new type of one-dimensional leaky-wave antenna (LWA) with independent control of the beam-pointing angle and beamwidth is presented. The antenna is based on a simple structure composed of a bulk parallel-plate waveguide (PPW) loaded with two printed circuit boards (PCBs), each one consisting of an array of printed dipoles. One PCB acts as a partially reflective surface (PRS), and the other grounded PCB behaves as a high impedance surface (HIS). It is shown that an independent control of the leaky-mode phase and leakage rate can be achieved by changing the lengths of the PRS and HIS dipoles, thus resulting in a flexible adjustment of the LWA pointing direction and directivity. The leaky-mode dispersion curves are obtained with a simple Transverse Equivalent Network (TEN), and they are validated with three-dimensional full-wave simulations. Experimental results on fabricated prototypes operating at 15 GHz are reported, demonstrating the versatile and independent control of the LWA performance by changing the PRS and HIS parameters.