Net Profit (net + profit)

Distribution by Scientific Domains


Selected Abstracts


DESIGNING A MARKET STRUCTURE WHEN FIRMS COMPETE FOR THE RIGHT TO SERVE THE MARKET,

THE JOURNAL OF INDUSTRIAL ECONOMICS, Issue 3 2005
Michel Mougeot
In many industries, a regulator designs an auction to select ex-ante the firms that compete ex-post on the product market. This paper considers the optimal market structure when firms incur sunk costs before entering the market and when the government is not able to regulate firms in the market. We prove that a free entry equilibrium results in an excessive entry when the entry costs are private information. Then, we consider an auction mechanism selecting the firms allowed to serve the market and show that the optimal number of licences results in the socially optimal market structure. When all the potential candidates are actual bidders, the optimal number of firms in the market increases with the number of candidates and decreases with the social cost of public funds. When the market size is small, as the net profit in the market decreases with the number of selected firms, entry is endogenous. As increasing competition in the market reduces competition for the market, the optimal structure is more concentrated than in the previous case. [source]


Implementation of the Socially Optimal Outcome

THE MANCHESTER SCHOOL, Issue 5 2004
Chun-Hsiung Liao
We show that a welfare maximizing planner in a Cournot oligopoly can easily implement the socially optimal outcome by offering the firms a per unit subsidy in return for upfront fees. The planner announces a subsidy and auctions it off to a limited number of firms. It is shown that if at least one firm is excluded and not subsidized, the socially optimal outcome can be achieved while the planner runs no deficit. The planner does not impose any regulation on the firms. They accept his offer willingly and voluntarily. Yet, every firm makes zero net profit and consumers extract the entire surplus. [source]


The Assessment of Gain-Based Damages for Breach of Contract

THE MODERN LAW REVIEW, Issue 4 2008
Ralph Cunnington
This article argues that there are two different measures of gain-based damages for breach of contract: the Wrotham Park measure and the Blake measure. The former is assessed by reference to the objective value of the benefit received by the defendant and the latter by reference to the defendant's subjective gain. In assessing Wrotham Park damages the courts apply a fixed formula, determining the price that a reasonable person in the position of the claimant might have demanded from the defendant at the time of breach for relaxing its rights under the contract. The Blake measure is different; it requires the defendant to disgorge the actual net profit received from the breach. Unlike the Wrotham Park measure, it deals only with positive and not negative gains. It is also limited by the doctrine of causation so that only those gains that are ,directly occasioned' by the breach are recoverable. [source]


Optimal admission and pricing control problems in service industries with multiple servers and sideline profit

APPLIED STOCHASTIC MODELS IN BUSINESS AND INDUSTRY, Issue 4 2008
Jae-Dong Son
Abstract This paper deals with the problem of selecting profitable customer orders sequentially arriving at a company operating in service industries with multiple servers in which two classes of services are provided. The first class of service is designed to meet the particular needs of customers; and the company (1) makes a decision on whether to accept or to reject the order for this service (admission control) and (2) decides a price of the order and offers it to an arriving customer (pricing control). The second class of service is provided as a sideline, which prevents servers from being idle when the number of customer orders for the first class is less than the number of servers. This yields the sideline profit. A cost is paid to search for customer orders, which is called the search cost. In the context of search cost, the company has an option whether to conduct the search or not. In this paper, we discuss both admission control and pricing control problems within an identical framework as well as examine the structure of the optimal policies to maximize the total expected net profit gained over an infinite planning horizon. We show that when the sideline profit is large, the optimal policies may not be monotone in the number of customer orders in the system. Copyright © 2008 John Wiley & Sons, Ltd. [source]


Low-cost diet for monoculture of giant freshwater prawn (Macrobrachium rosenbergii de Man) in Bangladesh

AQUACULTURE RESEARCH, Issue 3 2007
Md Arshad Hossain
Abstract An experiment was conducted for 3 months in 12 experimental ponds, each of 30 m2, with a view to develop a low-cost diet for monoculture of Macrobrachium rosenbergii in ponds. Three experimental diets (30% protein) were formulated using fish meal, meat and bone meal, mustard oilcake, sesame meal and rice bran in different combinations partially replacing fish meal by meat and bone meal and sesame meal and assigned to treatments T1, T2 and T3 respectively. A commercial golda feed (Starter-III) was assigned to T4 (reference diet). Each treatment had three replicates. Juveniles of M. rosenbergii (2.90±0.21 g) were stocked at the rate of 40 000 ha,1. Prawns were fed three times daily at the rate of 10% and 5% of their body weight at the beginning and for the last 2 months respectively. The ponds were provided with aeration during the night using air pumps. The ranges of water quality parameters recorded in different ponds were: temperature 28.9,32.5°C, dissolved oxygen 5.1,8.1 mg L,1 and pH 6.4,7.7. The results showed that the weight gain of prawns fed diet 1 was significantly higher (P<0.05) than those fed diets 2 and 3, but was not significantly different from those fed diet 4 (reference diet). The feed conversion ratio (FCR) values of diets ranged between 2.21 and 2.96 with diets 1 and 4 showing significantly lower (P<0.05) FCR values. The survivals (%) ranged between 68% and 78% with prawns fed diets 1 and 4 showing significantly higher survival. The production of prawn ranged between 921 and 1428 kg ha,1 and diet 1 resulted in a significantly high (P<0.05) production. A simple economic analysis showed that diet 1 generated the maximum net profit of Tk 159 178 ha,1. The results of the study showed that a diet containing 20% fish meal, 10% meat and bone meal, 15% mustard oilcake, 15% sesame meal, 35% rice bran, 4% molasses and 1% vitamin,mineral premixes may be recommended to the farmers for monoculture of M. rosenbergii in ponds. [source]


Effect of mixed feeding schedules with varying dietary protein levels on the growth of sutchi catfish, Pangasius hypophthalmus (Sauvage) with silver carp, Hypophthalmichthys molitrix (Valenciennes) in ponds

AQUACULTURE RESEARCH, Issue 7 2005
Md Zulfikar Ali
Abstract A 6-month feeding trial was conducted in field condition using 10 farm ponds (400,600 m2) to investigate the effect of mixed feeding schedules on the growth of sutchi catfish, Pangasius hypophthalmus with silver carp, Hypophthalmichthys molitrix. Fish were stocked at a ratio of 80:20 (sutchi catfish, 4.9±0.5 g: silver carp, 12.0±0.8 g) at the total rate of 25 000 ha,1. Two diets of high protein (30%, HP) and low protein (16%, LP) were prepared using locally available feed ingredients. Five different feeding schedules of high-protein diet continuously (HP), low-protein diet continuously (LP), 1-day low,protein/1-day high-protein diet (1LP/1HP), 7 days low,protein/7 days high-protein diet (7LP/7HP) and 14 days low,protein/14 days high-protein diet (14LP/14HP) were tested. The fish were fed twice daily at the rate of 15%, 10%, 8% and 5% of their body weight for first, second, third month and rest of experimental period respectively. Feeding rate was calculated only on the basis of sutchi catfish weight only and was adjusted every 2 weeks according to weight gain. Fish fed LP and HP on alternate day (1LP/1HP) resulted in significantly (P<0.05) higher growth rate, feed utilization and production among the treatments. However, there were no significant differences (P>0.05) between the growth rates and production of fish fed HP regularly and fish fed 7 days LP followed by 7 days HP (7LP/7HP). Fish maintained on LP grew the least. The feed conversion ratio (FCR) values for sutchi catfish ranged between 2.04 and 2.79 with feeding schedule 1LP/1HP showing the best FCR. The total production of fish (including silver carp) ranged between 8310 and 12 422 kg ha,1 6 months,1 with 1LP/1HP feeding schedule resulting in the highest production and net profit. The study demonstrated that feeding fish continuously with HP is less economical. Thus, for profitable sutchi catfish culture with silver carp, farmers can use the mixed feeding schedule of alternate day feeding of LP and HP as a means of reducing feed costs. [source]


OUTPUT VERSUS INPUT CONTROLS UNDER UNCERTAINTY: THE CASE OF A FISHERY

NATURAL RESOURCE MODELING, Issue 2 2009
SATOSHI YAMAZAKI
Abstract The paper compares the management outcomes with a total allowable catch (TAC) and a total allowable effort (TAE) in a fishery under uncertainty. Using a dynamic programming model with multiple uncertainties and estimated growth, harvest, and effort functions from one of the world's largest fisheries, the relative economic and biological benefits of a TAC and TAE are compared and contrasted in a stochastic environment. This approach provides a decision and modeling framework to compare instruments and achieve desired management goals. A key finding is that neither instrument is always preferred in a world of uncertainty and that regulator's risk aversion and weighting in terms of expected net profits and biomass, and the trade-offs in terms of expected values and variance determine instrument choice. [source]


Techno-Economic Analysis of Hydrazine Hydrate Technologies

CHEMICAL ENGINEERING & TECHNOLOGY (CET), Issue 9 2010
P. Nikhitha
Abstract The increasing demand of current world production for hydrazine hydrate emphasizes the need to focus on the techno-economic analysis of the existing technologies. Three processes, namely the Raschig process, urea process, and peroxide-ketazine process, are chosen for technical analysis followed by cost estimation and economic assessment. The technical part involves the development of flow sheets, process design, carrying out of calculations as well as estimation of raw materials, labor, utilities, and process equipment by sizing and other sub-components. The economic part comprises the estimation of working capital, fixed capital investment, total capital investment, and total production costs. Economic parameters like net profits, rate of return, payback period, and break-even point are also estimated to perform economic analysis. The results obtained from technical analysis and economical feasibility studies show that the peroxide-ketazine-based hydrazine hydrate technology has clear advantages in terms of raw material consumption and economic competitiveness. [source]