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This study provides a better explanation for the continued prevalence of high–low (Hi–Lo) pricing strategy. We investigate the impact of market competition on adopting two different pricing strategies in the retail industry: everyday low price (EDLP) strategy and Hi–Lo strategy. We developed two analytic models using a game‐theoretic modeling approach: the profit maximization model and the sales revenue maximization model. We then conducted an econometric analysis based on retail store‐level dataset. The result shows that an EDLP player's equilibrium price depends highly on the cost level rather than competitor's price whereas the Hi–Lo player's equilibrium price depends mainly on the range of promotional basket as well as the cost level.

Summary Methane hydrate-bearing sediments exist throughout the world in continental margins and in Arctic permafrost. Hydrates are ice-like compounds when dissociate due to temperature rise or reduction in fluid pressure, release gas. Because of the mechanical property changes caused by dissociation in which the loads supported by the hydrates are transferred to soil grains, these sediments may become unstable. To quantify the risk of ground instability triggered by dissociation, which may happen during operation to extract methane gas or from climate changes, a reliable predictive model is indispensable. Even though many models have been proposed, a detailed validation of the ability to model dissociation impact is still needed. This study investigated the adequacy of an spatially mobilized plane constitutive model and a modeling framework using laboratory-induced dissociation tests under shear from literature. Using laboratory-imposed temperature and pressure changes and the resulting hydrate saturation changes as input, this study was able to capture the geomechanical responses and determine the stability state of methane hydrate-bearing sediments as observed. Copyright © 2017 John Wiley & Sons, Ltd.

This study focuses on finding the trend of efficiency in the healthcare industry in recent years. We applied stochastic frontier analysis and data envelopment analysis methods to capture the efficiency of 1,471 hospitals and found a sign of the Baumol effect, which is detected by the decreasing trend of hospital efficiency with increasing trend of labor costs. Furthermore, we compared the results of both approaches (stochastic frontier and data envelope analyses) in capturing efficiency scores and suggest the U-shaped curve of the size effect may indicate the practice of “cream skimming” by some small hospitals.

Summary Mechanical properties of methane hydrate-bearing soils are complex. Their behavior undergoes a significant change when hydrates dissociate and become methane gas. On the other hand, methane hydrates are ice-like compounds and, depending on the hydrate accumulation habits and the degree of hydrate saturation, may cement soil particles into stronger and stiffer soils. A new constitutive model is proposed that is capable of capturing essential characteristics of hydrate-bearing soils. The core of the model includes the spatial mobilized plane concept; a transformed stress, tij; the critical state; and the subloading framework. The proposed model gives soil responses due to stress changes or hydrate saturation changes or both. The performance of the model has been found satisfactory, over a range of hydrate saturation and confining pressures, using triaxial test data from laboratory-synthesized samples and from field samples extracted from Nankai Trough, Japan. Copyright © 2015 John Wiley & Sons, Ltd.