We study the inventory control problem of a retailer working under stochastic demand and stochastic limited supply. We assume that the unfilled part of the retailer׳s order is fully backordered at the supplier and replenished with certainty in the following period. As it may not always be optimal for the retailer to replenish the backordered supply, we also consider the setting in which the retailer has a right to either partially or fully cancel these backorders, if desired. We show the optimality of the base-stock policy and characterize the threshold inventory position above which it is optimal to fully cancel the replenishment of the backordered supply. We carry out a numerical analysis to quantify the benefits of supply backordering and the value of the cancelation option, and reveal several managerial insights.
Community satisfaction is an important determinant of the perceived overall quality of life, and can be defined as a function of opportunities a community provides to its residents. Although measurable at a specific point in time, it does not only reflect current communal activities, but also past developments and their path dependency. In this paper we identify and empirically verify factors influencing community satisfaction in post-socialist urban settlements. In the process we are using the Slovenian post-socialist cities of Nova Gorica and Velenje as illustrative examples, and the average Slovenian community satisfaction in urban settlements as a benchmark. This unique combination of data allows us to derive important lessons for community residents, community planners, and local policy-makers.
Digital piracy as a continuing problem significantly impacts various stakeholders, including consumers, enterprises, and countries. This study develops a three-level mechanism of determinants of consumer digital piracy behavior, with personal risk as an individual factor, susceptibility to interpersonal influence as an inter-personal factor, and moral intensity as a broad societal factor. Further, it explores the role of rationalization and future piracy intent as outcomes of past piracy behaviors. The authors use survey data from four countries in the European Union to test the system of structural relationships. With an exception of the effect of consumers’ susceptibility to interpersonal influence on piracy behavior, the conceptual model receives remarkably consistent support across the four countries. Specifically, perception of personal risk and moral intensity negatively affected the reported piracy behavior in all four countries. The results further support the negative influence of moral intensity and the positive influence of past digital piracy behavior on consumers’ use of rationalization. Lastly, personal risk, rationalization, and past digital piracy behavior directly influenced consumers’ intention to engage in digital piracy in the future. The study also discusses implications of the findings and identifies areas of future research.
This study proposes several hypotheses to explain the performance drivers in the casino industry. We differentiate between casinos in terms of their size, location, hotel vs. non-hotel offer, and operational type. All hypotheses are tested in the context of Slovenia, a country with a long history and tradition in the casino industry. The results show that performance is higher among large casinos and casinos located on the border with neighboring countries. We also accept the hypothesis that performance is higher for casinos that operate as a group vs. those that operate individually. Finally, we reject the hypothesis that casinos with hotels have higher performance than casinos without hotels. The study discusses the implications of these findings and provides directions for future research.