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Bargaining Theory
In the social sciences, bargaining or haggling is a type of negotiation in which the buyer and seller of a good or service debate the price or nature of a transaction. If the bargaining produces agreement on terms, the transaction takes place. Although the most apparent aspect of bargaining in markets is as an alternative pricing strategy to fixed prices, it can also include making arrangements for credit or bulk purchasing, as well as serving as an important method of clienteling. Bargaining has largely disappeared in parts of the world where retail stores with fixed prices are the most common place to purchase goods. However, for expensive goods such as homes, antiques and collectibles, jewellery and automobiles, bargaining can remain commonplace. Dickering and "haggling" refer to the same process. Where it takes place Haggling is associated commonly with bazaars and other markets where centralized regulation is difficult or impossible. Both religious beli ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Pasar Malam Rawasari 11
Pasar ( fa, پاسار, also Romanized as Pāsār and Pāssar) is a village in Cheshmeh Kabud Rural District, in the Central District of Harsin County, Kermanshah Province, Iran Iran, officially the Islamic Republic of Iran, and also called Persia, is a country located in Western Asia. It is bordered by Iraq and Turkey to the west, by Azerbaijan and Armenia to the northwest, by the Caspian Sea and Turkm .... At the 2006 census, its population was 512, in 113 families. The early 3rd millennium BC flint production site of Pasar is located southwest of the village. The site was located By Mortensen and Smith during their regional survey in 1977.Müller-Neuhof, B. (2013). Southwest Asian Late Chalcolithic/Early Bronze Age demand for “big-tools”: specialized flint exploitation beyond the fringes of settled regions. Lithic Technology, 38(3), 220-236. References Populated places in Harsin County {{Harsin-geo-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Automobile
A car or automobile is a motor vehicle with wheels. Most definitions of ''cars'' say that they run primarily on roads, seat one to eight people, have four wheels, and mainly transport people instead of goods. The year 1886 is regarded as the birth year of the car, when German inventor Carl Benz patented his Benz Patent-Motorwagen. Cars became widely available during the 20th century. One of the first cars affordable by the masses was the 1908 Model T, an American car manufactured by the Ford Motor Company. Cars were rapidly adopted in the US, where they replaced animal-drawn carriages and carts. In Europe and other parts of the world, demand for automobiles did not increase until after World War II. The car is considered an essential part of the developed economy. Cars have controls for driving, parking, passenger comfort, and a variety of lights. Over the decades, additional features and controls have been added to vehicles, making them progressively more comple ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Nash Bargaining Solution
Cooperative bargaining is a process in which two people decide how to share a surplus that they can jointly generate. In many cases, the surplus created by the two players can be shared in many ways, forcing the players to negotiate which division of payoffs to choose. Such surplus-sharing problems (also called bargaining problem) are faced by management and labor in the division of a firm's profit, by trade partners in the specification of the terms of trade, and more. The present article focuses on the ''normative'' approach to bargaining. It studies how the surplus ''should'' be shared, by formulating appealing axioms that the solution to a bargaining problem should satisfy. It is useful when both parties are willing to cooperate in implementing the fair solution. The five axioms, any Nash Bargaining Solution should satisfy are Pareto Optimality (PAR), Individual Rationality (IR), Independent of Expected Utility Representations (INV), Independence of Irrelevant Alternatives (IIA) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Von Neumann–Morgenstern Utility Theorem
In decision theory, the von Neumann–Morgenstern (VNM) utility theorem shows that, under certain axioms of rational behavior, a decision-maker faced with risky (probabilistic) outcomes of different choices will behave as if he or she is maximizing the expected value of some function defined over the potential outcomes at some specified point in the future. This function is known as the von Neumann–Morgenstern utility function. The theorem is the basis for expected utility theory. In 1947, John von Neumann and Oskar Morgenstern proved that any individual whose preferences satisfied four axioms has a utility function; Neumann, John von and Morgenstern, Oskar, ''Theory of Games and Economic Behavior''. Princeton, NJ. Princeton University Press, 1953. such an individual's preferences can be represented on an interval scale and the individual will always prefer actions that maximize expected utility. That is, they proved that an agent is (VNM-)rational ''if and only if'' there exis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Bargaining Problem
Cooperative bargaining is a process in which two people decide how to share a surplus that they can jointly generate. In many cases, the surplus created by the two players can be shared in many ways, forcing the players to negotiate which division of payoffs to choose. Such surplus-sharing problems (also called bargaining problem) are faced by management and labor in the division of a firm's profit, by trade partners in the specification of the terms of trade, and more. The present article focuses on the ''normative'' approach to bargaining. It studies how the surplus ''should'' be shared, by formulating appealing axioms that the solution to a bargaining problem should satisfy. It is useful when both parties are willing to cooperate in implementing the fair solution. The five axioms, any Nash Bargaining Solution should satisfy are Pareto Optimality (PAR), Individual Rationality (IR), Independent of Expected Utility Representations (INV), Independence of Irrelevant Alternatives (IIA) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Medina Tripoli Libya
Medina,, ', "the radiant city"; or , ', (), "the city" officially Al Madinah Al Munawwarah (, , Turkish: Medine-i Münevvere) and also commonly simplified as Madīnah or Madinah (, ), is the second-holiest city in Islam, and the capital of the Medina Province of Saudi Arabia. , the estimated population of the city is 1,488,782, making it the fourth-most populous city in the country. Located at the core of the Medina Province in the western reaches of the country, the city is distributed over , of which constitutes the city's urban area, while the rest is occupied by the Hejaz Mountains, empty valleys, agricultural spaces and older dormant volcanoes. Medina is generally considered to be the "cradle of Islamic culture and civilization". The city is considered to be the second-holiest of three key cities in Islamic tradition, with Mecca and Jerusalem serving as the holiest and third-holiest cities respectively. ''Al-Masjid al-Nabawi'' () is of exceptional importance in Islam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Supermarket
A supermarket is a self-service shop offering a wide variety of food, beverages and household products, organized into sections. This kind of store is larger and has a wider selection than earlier grocery stores, but is smaller and more limited in the range of merchandise than a hypermarket or big-box market. In everyday U.S. usage, however, "grocery store" is synonymous with supermarket, and is not used to refer to other types of stores that sell groceries. The supermarket typically has places for fresh meat, fresh produce, dairy, deli items, baked goods, etc. Shelf space is also reserved for canned and packaged goods and for various non-food items such as kitchenware, household cleaners, pharmacy products and pet supplies. Some supermarkets also sell other household products that are consumed regularly, such as alcohol (where permitted), medicine, and clothing, and some sell a much wider range of non-food products: DVDs, sporting equipment, board games, and seaso ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Marketplace
A marketplace or market place is a location where people regularly gather for the purchase and sale of provisions, livestock, and other goods. In different parts of the world, a marketplace may be described as a ''souk'' (from the Arabic), '' bazaar'' (from the Persian), a fixed '' mercado'' ( Spanish), or itinerant '' tianguis'' (Mexico), or '' palengke'' (Philippines). Some markets operate daily and are said to be ''permanent'' markets while others are held once a week or on less frequent specified days such as festival days and are said to be ''periodic markets.'' The form that a market adopts depends on its locality's population, culture, ambient and geographic conditions. The term ''market'' covers many types of trading, as market squares, market halls and food halls, and their different varieties. Thus marketplaces can be both outdoors and indoors, and in the modern world, online marketplaces. Markets have existed for as long as humans have engaged in trade. The ear ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Thailand
Thailand ( ), historically known as Siam () and officially the Kingdom of Thailand, is a country in Southeast Asia, located at the centre of the Indochinese Peninsula, spanning , with a population of almost 70 million. The country is bordered to the north by Myanmar and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the west by the Andaman Sea and the extremity of Myanmar. Thailand also shares maritime borders with Vietnam to the southeast, and Indonesia and India to the southwest. Bangkok is the nation's capital and largest city. Tai peoples migrated from southwestern China to mainland Southeast Asia from the 11th century. Indianised kingdoms such as the Mon, Khmer Empire and Malay states ruled the region, competing with Thai states such as the Kingdoms of Ngoenyang, Sukhothai, Lan Na and Ayutthaya, which also rivalled each other. European contact began in 1511 with a Portuguese diplomatic mission to Ayuttha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Indonesia
Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania between the Indian and Pacific oceans. It consists of over 17,000 islands, including Sumatra, Java, Sulawesi, and parts of Borneo and New Guinea. Indonesia is the world's largest archipelagic state and the 14th-largest country by area, at . With over 275 million people, Indonesia is the world's fourth-most populous country and the most populous Muslim-majority country. Java, the world's most populous island, is home to more than half of the country's population. Indonesia is a presidential republic with an elected legislature. It has 38 provinces, of which nine have special status. The country's capital, Jakarta, is the world's second-most populous urban area. Indonesia shares land borders with Papua New Guinea, East Timor, and the East Malaysia, eastern part of Malaysia, as well as maritime borders with Singapore, Vietnam, Thailand, the Philippines, Australia, Palau, an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Djerba Spice Market-snopek
Djerba (; ar, جربة, Jirba, ; it, Meninge, Girba), also transliterated as Jerba or Jarbah, is a Tunisian island and the largest island of North Africa at , in the Gulf of Gabès, off the coast of Tunisia. It had a population of 139,544 at the 2004 census, which rose to 163,726 at the 2014 census. Citing the long and unique history of its Jewish minority in Djerba, Tunisia has sought UNESCO World Heritage status protections for the island. History Legend has it that Djerba was the island of the lotus-eaters where Odysseus was stranded on his voyage through the Mediterranean Sea. The island was called ''Meninx'' ( grc, Μῆνιγξ) until the third century AD. Strabo writes that there was an altar of Odysseus. The island was controlled twice by the Norman Kingdom of Sicily: in 1135–1158 and in 1284–1333. During the second of these periods it was organised as a feudal lordship, with the following Lords of Jerba: * 1284–1305: Roger I * 1305–1307, and 1 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |