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Consumer attitudes and preferences about the pork meat in Hungary (based on cluster analysis)
151-158Views:243In my study I wish to investigate the fact that how the pork consumption of Hungary changed during the last years. This study focuses on consumer’s attitudes about (pork) meat, what do they think about the healthness of the different meat type, what are the strengths and weaknesses of pork meat, what are the main features of good quality pork meat, what are the major pork purchase influencing factors and what are the favourite food of the respondents from pork meat etc. Then I analyze the tendency of these values (cross tabs, bar/pie charts, means, Chi-square), where can be found significant differences, and make a cluster analysis to identify the pork consumers in Hungary.
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Consumer willingness to pay a premium for a functional food in Ghana
51-59Views:197Interest in functional foods has been growing in sub-Saharan Africa due to consumer concerns with diet and nutrition. This paper analyses consumer awareness, perceptions and effects of the determinants of consumer willingness to pay (WTP) a premium for Moringa bread in Ghana. An ordered probit model is employed. The empirical results indicate that consumer knowledge of the nutritional and health benefits of Moringa bread is what matters most to consumers in respect of their WTP a higher premium for the product. Consumers with knowledge on Moringa products are more willing to pay above 50% price premiums for Moringa bread. Fruitful policy recommendations are made in the paper.
JEL code: D12
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Profit efficiency among catfish marketers in Lagos state, Nigeria: a Stochastic Profit Frontier Analysis (SPFA) approach
Views:191The study analyzed the determinants of profit efficiency among catfish marketers in Lagos state, Nigeria. Multistage sampling procedure was used to select 120 catfish marketers, data were collected with the aid of a structured questionnaire. The data collected were analyzed with the use of descriptive statistics, enterprise budgetary technique, Shephered-Futrell method and stochastic profit frontier analysis (SPFA) model. The result of the gross ratio and net return on investment reveals that catfish marketing was a profitable and bankable enterprise. About 76.72% of sales revenue was taken up by the costs. The SPFA reveals that cost of catfish purchased and depreciation cost had positive (p<0.01) effects on profit while transportation cost (p<0.01) and labour cost (p<0.05) had negative effects. Furthermore, marital status and credit use (p<0.01) had negative effects on profit inefficiency, the mean profit efficiency of the catfish marketers was 74%. The study concluded that catfish marketers were inefficient, however, to improve the efficiency of the marketers and create more job opportunities; the study recommends that credit facilities that will enable the marketers increase their scale of operation, acquire better marketing resources and employ capable hands in catfish marketing should be made available and accessible. Policies that will help to provide good road networks and reduce the pump price of premium motor spirit (PMS) should be given adequate consideration.
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Structured commodity finance
77-83Views:171Over the past years, the financial stock market – providing the capital demand that is the result of stockpiling and the characteristic strong seasonality observed in the agricultural sector – has increasingly grown and become more “used” by market participants. Its size had reached an annual value of 200 billion HUF, of which agricultural products had received the largest proportion through the various market participants (producers, integrators, traders, feed producers, mills). In the meantime, this market had become part of the competition between the commercial banks that are the largest financers of the sector, due to which the financing credit institutions had undertaken increasing risk levels, with respect to both degree of financing and the VAT financing related to stockholding. The practice of commodity financing by banks display a rather varied picture at present. Considering the exceptional degree of fall in prices and the actions of companies totally disregarding business ethics in 2008, it seems necessary to reveal the full scope of risks inherent in commodity financing. The primary aim of such an exercise is to ensure the prudent operation of refinancing activities for commercial banks. The inherent risks in trade financing – as has been proven by the experiences of previous years – are not found primarily in the goods themselves, but rather at the actual storage facility and also emerge in relation to clients, as well as the inadequate and ineffective risk management of price volatility by the financers. Therefore, the establishment of banking risk management and risk prevention techniques, including the development of new financing procedures become indispensable, minimizing all types of risks that had emerged in previous years.
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Importance and impact of guest satisfaction
31-37Views:408The service quality can be measured by the consumers’ satisfaction. Researchers assume that high quality satisfies the guests and satisfaction may increase their loyalty. The main goal of this article is to measure guest satisfaction and prove its positive impacts on Hungarian hotels’ performance. A comprehensive survey was made on the Hungarian wellness hotels in October 2012; the primary aim was to provide them suggestions to improve their quality on the base of guests’ feedback. A self-administered questionnaire were compiled and sent back by 815 respondents. The investigation examined the quality awareness, quality perception, guest satisfaction and the following behavioral intentions of domestic guests of spa hotels. It can be concluded that domestic guests are generally satisfied with the quality of services offered by Hungarian spa hotels. The message of this research is for hotel managers that the increase of guest satisfaction can be reached by the improvement of service quality, and not only with price discounts. It has been demonstrated that satisfaction is closely related to their willingness to return to the hotel, so it is an essential condition of loyalty.
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EXPLORING THE NEXUS BETWEEN SUSTAINABLE CONSUMPTION BEHAVIOR AND ORGANIC FOOD PURCHASE: A Comprehensive Review
Views:101Recently, a remarkable increase in organic food consumption can been seen in both developed and developing countries. This research aims to identify the role of sustainable consumption behavior in purchasing organic food. The research problem has been formulated with several questions, most notably: Does sustainable consumption behavior has a role in purchasing organic food? The relationship between sustainable consumption behavior and organic food has received a lot of attention in the literature. However, take a comprehensive approach to examine how sustainable consumption behavior might affect purchasing organic food? In order to examine the role of sustainable consumption behavior in buying organic food, this article proposes a framework that adopts a comprehensive approach. The author conducted a qualitative synthesis of the literature (Systematic Literature Review (PRISMA), including 43 articles, revealing several findings. One of them, is that sustainable consumption behavior positively and directly impacts buying organic food due to the health, environmental cognition, high quality, trust, and food safety. The second finding is that complex factors influence organic food buying behavior. For example, price is always likely to be an important factor for most customers. Moreover, the lack of knowledge about organic food is another factor affecting customers’ buying organic food.
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Impacts of the global financial and economic crisis on the agro-food industry and rural livelihoods in Serbia
113-118Views:113Sixty-five per cent of the Serbian land area is agricultural and 55% of the population is rural.Agriculture share of GDP is more than 10% and about 47% of the rural labour force deals with agriculture. The aim of this work is to analyse the impacts of the global financial and economic crisis on the Serbian agro-food sector and rural communities. Measures introduced, mainly by public institutions, for relieving the consequences of the crisis are presented and discussed. Easily accessible yet high quality data from the central Office of Statistics in Serbia and specialized literature have been used. Impacts have been assessed by analyzing and discussing the trends of many socio-economic indicators. The crisis has had general impacts on the Serbian economy (low GDP growth, unemployment increase, price volatility, purchasing power decrease, etc.). Due to the crisis growth in agricultural production has been very low (0.1% in 2009). Agro-food exports decreased dramatically in 2008. About 9000 agricultural jobs were lost in 2008 and 2009. Reduced exports and lower domestic demand impacted negatively on agricultural commodity prices and agricultural household incomes.Access to credit became more difficult especially for small producers. However, agriculture is still a very important safety net. Agricultural employment share has increased both for men and women. The importance of agriculture is even higher if we consider the “grey agricultural economy”. To mitigate the crisis effects, the Government provided subsidies to rural people and will adopt the National Strategic Plan and Programme for Rural Development. Nevertheless, public institutions - in partnership with private, civil society and international organisations - should improve rural producers’ access to market information and credits and foster investments in rural areas including non-agricultural ones and those aiming at improving physical capital.
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Economic issues of duck production: A case study from Hungary
61-67Views:140The Hungarian waterfowl sector is characterised by export orientation, as 55-57% of the revenue comes from exports, so its importance is high in the national economy. The production of slaughter animals in the duck sector has doubled in the last decade. The objective of the study is to examine production parameters, as well as the cost and profit situation of broiler duck production and to reveal the correlations between the factors with a case study through the example of a Hungarian company. The production parameters and cost data of the investigated farm (2014-2016, 96 production cycles) were analysed using descriptive statistical methods, correlation and regression analysis. The results show that the average cost of the duck produced in intensive, closed farming system was between 72.6 and 101.7 eurocent kg-1. The most significant cost items were feed (52-63%) and chicken cost (14-19%). The sales price decreased from 112.9 eurocent kg-1 to 98.4 eurocent kg-1 during the examined period, resulting in a profit from -3.3 to 25.7 eurocent kg-1, and overall profitability was decreasing. The study also revealed that there was no correlation between average cost and final bodyweight, while the correlation between average cost and reared period was weak. At the same time, the relationship between average cost and average daily weight gain, mortality, feed conversion ratio was moderate. In addition, the European Production Efficiency Factor (EPEF) can be adapted to the duck sector as strong, positive relationship can be scientifically verified between the indicator and average cost. There is a close correlation between the sold live weight per m2 and the amount of feed used per m2, as well as between the final bodyweight and the amount of feed used to rear a duck, while the correlation between average cost and the sold live weight per m2 is weak.
JEL Code: Q13, Q19
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Luxury wine: analyzing motivations of luxury wine buyers in the US market
51-58Views:311The purpose of this research study was to describe motivations and demographics of luxury wine buyers in the US market. An online survey was completed by 1081 US wine consumers, of which 473 were designated to be luxury buyers based on price spent on wine. Standard demographic and wine consumer scales were utilized for profiling. Results show that the luxury wine buyer is more likely to be male, aged 30 to 50, with a higher income and education level. Motivations of the luxury wine buyer are different than the non-luxury wine buyer, and reasons for purchasing luxury wine go beyond mere collecting. This research is one of the first to analyze the luxury wine consumer in the US market, and provides useful information for wine marketers and researchers on the profile of the luxury wine buyer in America.
JEL Classification: M31
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New types of tourism and tourism marketing in the post-industrial world
41-45Views:147At the end of the 20th century in the most developed countries economy and society went through profound transformation. The emerging post-industrial society can be characterised by the dominance of service industry, more leisure time of the population, higher disposable income and more conscious consumers. These conscious consumers are more and more quality orientated and reject undifferentiated mass products. New customers of tourism and hospitality industry are not only more affluent – so less price conscious – and more quality orientated but they are also seeking activity, participation, fantasy, and experience. These new types of tourists are interested rather in aesthetic aspects of life and are seeking highly differentiated, personalised experience. In the following article the authors, professors of the French ESSCA business school overview theoretical aspects of new, post-Fordist tourism demand and present examples of the new tourism and hospitality products having emerged in the developed countries during the last years.
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Optimal crop plan of cooperative farmers in Osun state, Nigeria: a linear programming approach
Views:204Optimal level of production requires better use of existing resources at the lowest possible cost. Despite the inherent advantage of cooperatives to the agricultural sector, the question of how farmers under cooperative umbrella use farm resource for optimal outcome remains unanswered. This study investigates optimal crop mix for cooperative farmers in rural communities in Southwest Nigeria. Primary data were collected for the study through structured questionnaire. The data were fitted to Linear Programming Model. Three different cropping patterns are identified among the cooperative farmers. Based on the results from linear programming model, only maize, cassava and yam are admitted in the final plan and this combination is to be produced at 2.23 hectares. The gross margin value associated with the plan is ₦156, 235.781 (1$ = N365). Input resources such as land, labour, fertilizer, and chemicals are not fully utilized. The slack values for these inputs are 0.31, 651.20, 1929.6 and 140.76 respectively. The sensitivity analysis shows that seed/seedling is the only binding resource in the final plan with a shadow price which suggests that proper allocation of seed and seedlings would improve returns to cooperative farmers. There is need for appropriate farm management strategies to ensure optimal return for farmers. More education and training is suggested to boost cooperative farmers understanding of optimum strategy that is needed to improve production and earnings.
JEL code: Q10, Q13
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A comparison of the Hungarian mangalitza and dutch organic pork chains
73-76Views:153The aim of this paper is to present the Hungarian mangalitza pig and Dutch organic pig supply chains and, in interrogating the differences between the two sectors, to make suggestions for the efficient operation of the Hungarian mangalitza breeding sector. The information about the two was sourced by a depth interview and literature reviews. It is established that there are few similarities between the two segments. In both sectors, the pigs are kept outdoors in large paddocks, there are also National Associations: in Hungary, the Association of Mangalitza Breeders (NAMB), in The Netherlands, the Organic Pork Growers. They hold a general meeting every year, where they discuss issues such as volume, quality, price, marketing and the future challenges and opportunities. There is strong demand both for the mangalitza and also for Dutch organic pork products on foreign markets. The main difference between them is their information systems. In The Netherlands, information flows via FarmingNet, but in the mangalitza sector, no such system exists. Yet, such a system would represent a breaking point for the adequate flow of data and efficient production for the NAMB, because then, Hungarian farmers would be forced to supply data.
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Structural Breaks or Continuous Adjustments in Grain Production and Prices 1961-2014? An Explorative Study
11-22Views:116This article analyses grain production and prices 1961-2014. We first describe the development in aggregated and relative allocation of land worldwide for wheat, corn and soybeans, and the growth in production volumes and yields. We then proceed by analyzing long-term price relationships. Finding that grain prices are strongly co-integrated, we estimate an Error Correction Model to see whether deviations from the long-run equilibrium are quickly adjusted. Furthermore, we investigate whether changes in land allocations for these principal field crops are best described as a continuous process or as a series of structural breaks, hypothesizing that events like the introduction of GM technologies and the “energizing” of corn after 2005 caused structural breaks in acreage shares and relative prices. Given the major and sometimes dramatic political events and technological changes during this period,one would expect to find significant structural breaks in grain production, yields and prices. However, our main conclusion is that grain markets generally adjust smoothly and continuously. Prices adjust quickly towards long-run equilibrium, and the results from a series of Chow tests indicate that the changes in relative land allocations have progressed as a relatively smooth process with few structural breaks.
JEL Classification: O13, Q10, N50
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Some aspects of accounting and management accounting during economic downturns
33-35Views:149Economic slowdown and downturn creates new situation for every organisation, no one can avoid facing to new situation created by the global financial-, and economic crisis.All of the organisational function should reconsider its own role within the company due to the new circumstances, Accounting and Mangement Accounting can not be exception, but they have more complex and emphasized role in these difficult times. In the following paper I can not avoid to mention some general statement about importance of accounting and accounting principles, while there are a number of criticalaccounting and financial reporting issues that accountants and auditors should consider.In the framework of the paper I can not face with all relevant issues of the topic, but after some general statement I would like to highlight some special area regarding to management accounting, which can be more important during these challenging time for decision makers and accountants.Regarding to balance sheet analysis its important to mention current debate about fair value comparing with historical cost from accounting point of view, on the other hand from the view of management reporting system I would like to highlight the importance of working-capital indicators. More practical topic is the crucial role of budgeting and forecasting during economic downturns, and at the end I would like to show why it is more important monitoring price variance and indirect cost allocation in these uncertain business circumstances.
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More insurance subsidies for European farmers – is it needed?
33-38Views:124In addition to traditional sources of uncertainties, such as market price volatility and animal and plant health-related risks, the impacts of climate change have recently become a major concern in the agricultural sector throughout the world. Insurance has been commonly proposed as a key instrument in farm risk management, and agricultural insurance schemes have become more widespread both in developed and developing countries. We conducted a case study in the UK to investigate farmers’ risk perception and willingness to pay for crop insurance by using contingent valuation method (CVM). Similarly to the experience from developing countries, we found that farmers are less willing to pay for insurance, however they do take actions to reduce their risks. While these results suggest that the provision of premium subsidies to European farmers can be justified; in order to avoid counter-productive policy outcomes, one may consider the introduction of a risk-based approach in agricultural risk management.
JEL classification: Q14
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Competetiveness of the Montenegrin fruit and vegetables sector and recommendtations for impovement
69-75Views:84A number of facts, primarily including high fragmentation at all levels, weak vertical integration, limited dimensions in comparison to competitors poor technological level and unbalanced quality/price ratio make the sector weak, low competitive and exposed to international competition, reducing its capacity to capture any existing market potential. Almost all opportunities are frozen by prevailing weaknesses and threat impacts are exacerbated by a largely prevailing number of weaknesses. High production unit cost appears to be a major constraint to local supply market competitiveness. This situation appears to be mainly caused by general low levels of productivity – provoked by not adequate and up-to-date cultivation practices, reduced levels of input use, utilisation of old and, therefore, less performing varieties, and also farm management shortcomings. High losses from reduced availability of post-harvest facilities and equipment add up to the problem. The improvement of the sector is not easy. In other words, there is a lot to do for the Montenegrin sector operators to increase sales: tackle imports and increase market shares in the domestic market and abroad. Based on our research, we suggest that the Montenegrin fruit and vegetable sector should primarily aim at substituting imports, increasing domestic consumption and developing exports to the region (CEFTA countries) primarily via promising market opportunities. Based on our analyses of the state of affairs of the sector, the competitiveness and the market potentials, the recommendations for improvement competitiveness are outlined.
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Economic Profitability of Sweet Pepper Production under Different Irrigation Levels and Polyethylene Mulch in a Plastic Greenhouse
109-116Views:151Field experiment was conducted, during two successive seasons of 2014- 2015 and 2015- 2016, at Dokki protected agricultural site, Giza Governorate, Egypt, to study the profitability of different applied irrigation levels and polyethylene (PE) mulch on plant growth and yield of sweet pepper, (Capsicum annum L.) cv. Godion F1, under plastic house condition. Three irrigation levels (0.50, 0.75 and 1.00) of crop evapotranspiration (ETc), using drip irrigation system and three PE mulch treatments (transparent, black and control) were applied. Data revealed that black PE recorded the highest values of early and total fruit yield per plant during the two seasons. Increasing water level up to 1.00 (ETc) enhanced yield with different PE mulch treatments, while water use efficiency (WUE) decreased with increasing water level. However, Using 0.50 (ETc), with different PE mulches increased WUE compared to using 0.75 (ETc) or 1.00 (ETc). The economic assessment of costs and returns from different treatments were calculated. It was found that the average yield was higher in 1.00 ETc with black mulch. Gross margin per 540 m2 were analysed using yield data, price structures and production costs. The 1.00 (ETc) with black mulch had the highest gross margin which is USD 416.8 and USD 533 (1 USD= 9 Egyptian pound) for the first and second seasons, respectively. The benefit cost ratios (BCRs) per 540 m2 were analysed, and 1.00 (ETc) with black mulch had the highest BCR with 1.36 in the first season and 1.45 in the second season.
JEL Classification: Q 01, Q 12, Q 19
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Corporate branding effects on consumer purchase preferences in Serbian telecom market
23-36Views:119This research is carried out to know the role of corporate branding in mobile phone network along with different influencing factors involved in the purchase of mobile telephone connections. This paper discusses corporate branding from consumer’s point of view that how much they value it and what type of role it has.This is a quantitative study. A questionnaire is used in order to investigate corporate branding and other influencing factors involved in purchase decision of the customers. Population selected for this study are Belgrade University students which is the most of Serbian youth segment and is a valuable source that gives precise information with high probability about market preferences according to the Research of Serbian republic statistical office. Primary data are obtained by collecting data from questionnaire and interview, while the secondary data are collected from various reliable sources. Primary data provide reliable content in accordance with a secondary data obtained by Serbian republic statistical office and with a Research of competitor and consumer preferences insight provided by Telenor Company. The analysis of the data has been performed in accordance with the chosen theories and summarized in a table, which serves as a tool for deriving reliable and relevant conclusions. The sample size was determined by conducting a primary study and defining the variance of primary sample and the intended number of samples was selected carefully and randomly from the population. Then the validity and reliability of the questionnaire was determined. The used questionnaire in this research consisted of 7 common, and 30 specialized questions which were supporting the hypotheses of the research. Data was analyzed using the frequency percent techniques, and in the chapter related to the deductive statistics, one-sample t test was used to analyze and approve/disapprove the questions supporting the research hypotheses. The analysis of this study reveals different set of results while making comparison between literature and empirical. It investigates the relative importance of the corporate branding to the customers in mobile phone telecommunication industry while making purchase decision. The findings of this study provided useful information which is helpful not only for the students but also for the brand managers of mobile telecom operators that how they can improve their company’s strategic position for longer period of time through corporate branding to trigger more customers and for a good brand.
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Demographic and lifestyle attributes with a fundamental role in food supplement consumption (exploratory research)
181-185Views:147The worldwide proportion of food supplement consumers has been steadily increasing, more than 50% of the Hungarian population tends to buy at least one type of dietary supplement. In most cases, the purchase and consumption of food supplements are not based on medical indications but depends on consumers’ individual decisions. The study of consumer groups enables the investigation of typicalities which have an impact on attitudes related to the consumption of food additives. The present study explores the demographical factors determining the global consumption of dietary supplements by secondary research. It sought to explore the typical features of consumer lifestyles in line with the research findings, based on previously specified criteria, through qualitative focus group examinations. My study focused on subjects who bought and purchased at least one type of food supplement in the previous year and placed a high emphasis on healthy diet and lifestyle in their everyday lives. The consumption of dietary supplements indicates growth with age and it is more common among women. Consumers with higher qualifications and incomes tend to buy products with vitamins and minerals in a greater proportion. The identification of nutrition factors revealed that the proportion of those who do not need extra nutrient intake is high among food supplement consumers. It is primarily true of women having a healthy lifestyle (they typically consume high amounts of vegetables and fruits, they are physically active, non-smokers and do not use alcohol); moreover, their socio-economic status is typically high. The findings of my quantitative research suggest that the purchase and consumption of dietary supplements are most characteristic of the “Successful”, “Quality oriented- successful” and “Loyal to the brand - modest” groups in the lifestyle-based consumer segments. The investigated sample showed ambiguous attitudes towards product quality and willingness to pay in all the three batches. Nevertheless, it can be established, when consumers buy food supplements, brand sensitivity proves to be a dominant factor in addition to - typically Hungarian - price sensitivity. Based on lifestyle factors, the current research may bring us closer to the exploration of the motivational and attitude patterns of consumers’ food supplement purchases.
JEL Code: I12, M31
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Market power analysis in Mongolian wheat industry
71-76Views:195Mongolia has been in transition from a planned economy to a market economy for more than 20 years. In many sectors of the economy, it is necessary to define which market mechanisms exist. Grain occupies important economic sector in Mongolian economy. The current state of the wheat market has been studied based on NEIO research methods. In this study, the data for years from 2000 to 2017 and from 2007 to 2017 about wheat and wheat seed sector were taken through 6 indicators. We estimated the supply and demand functions for wheat and wheat seed. Using these functions, we defined market behavior, cost function, price elasticities, and market equilibrium. The capacity setting for product prices of wheat producers is weak, and this market is likely free-style competition.
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The effects of global real economic crisis on the markets for fossil and renewable fuels
51-56Views:129The 2008/2009 world economic crisis had significant impact on the oil and fuel markets. The crisis developed from the meltdown of American and European mortgage and financial markets and rapidly involved the global real economy. As each country reacted differently to the crisis, the changes in the fuel market also showed significant geographic variation. In our present research, the actions of the US, German and Hungarian fuel markets were analysed for the answer to the reasons for the differences in crisis reactions. We examined the tendency of fuel consumption, the changes of price elasticity for gasoline and diesel and the possible effects of the crisis on the regulatory system.
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The role of corporate branding in Serbian mobile phone operator market
Views:115This research is carried out to know the role of corporate branding in mobile phone network along with different influencing factors involved in the purchase of mobile telephone connections. This thesis discusses corporate branding from consumer’s point of view that how much they value it and what type of role it has.
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Economics of fairness within the food supply chain in context of the EU
107-116Views:193The paper broaches the issue of unfair trading practices (UTPs) at the expense of, economically spoken, weaker actors among the food supply chain in context of the EU. For illustrating the concept of UTPs and delivering a theoretical basis for scrutinizing the term of fairness in respective trading practices the paper suggests the three variables 1) bargaining power, 2) market power/anti competitive practices and 3) unequal gain distribution. Subsequently the article presents selected national food-specific legislative based reactions towards UTPs evolved in context of the three variables. Ultimately the paper presents a qualitatively generated hypothesis which presumes that legislative food-specific measurements focussing on protecting suppliers lead to a beneficial monetary share for farmers, by means of influencing the producer price to a monetarily advantageous extent. The hypothesis was generated unprejudiced in the run-up to the paper. The research design which led to the hypothesis mentioned will be presented.
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