Do Tips Create Market Inefficiency? The Case of Restaurant Industry | Chapter 6 | New Advances in Business, Management and Economics Vol. 1

In this chapter, the author investigates the economic implications of restaurant tipping, that is, whether such practices induce market distortions. The author uses consumer choice theory to demonstrate the effects of tipping on consumer behavior and concludes that tipping does discourage consumer demand for restaurant meals, and hence leads to a substitution effect favoring grocery shopping. For this reason, this leads to a deadweight loss, thus undermining overall market efficiency. The author’s economic theoretical analysis shows how tipping distorts the price signal and harms consumer welfare. The main contribution of the chapter is to give a good theoretical background into restaurant management, and the theoretical model lays the groundwork for future empirical studies to validate the findings.

 

Author (s) Details

 

Tin-Chun Lin
School of Business and Economics, Indiana University – Northwest, Gary, IN 46408, USA.

 

Please see the book here:- https://doi.org/10.9734/bpi/nabme/v1/3803

Constrained Dynamic Optimization and Efficient Decentralized Decision Making in Nature: A Brief Overview | Chapter 1 | Current Topics on Business, Economics and Finance Vol. 9

 This phase suggests that the study of commerce as being practised in the economics profession contemporary is needlessly human centered. The direct interplays between individual people and character (hereafter human–nature interplays) have attracted growing interest.  There is evidence that all living belongings, including persons, are motivated by economic concerns. Their actions are stimulated by the limited vital optimisation goal, that is that they act logically. Decentralised decision-making is again used by far-flung groups of organisms to gain efficiency, such as restlessness and bee communities and forest trees. The evidence upholding this claim stems from a variety of notes on the behaviours of numerous plants and animals in addition to how their genomes are organized and work.  Recent research suggests that the origin of growth itself had the underlying purpose that was economic in nature, that is, that life was not a chance incident but an inevitable outcome of strength-dissipation-compelled organization of the matters properlingy so as to maximize the business-related efficiency ahead the evolutionary path of growing entropy result. It is striking that the motive of business-related efficiency underlies the behaviours of all profitable physical systems, two together organic and not organic, and that all successful wholes, organic or not organic, can be said to function rationally, profitable in the sense that they have been favorable in surviving the rigorous evolutionary theory process.Further, observations on a roomy range of natural phenomena, containing straight-line path of brightest star, symmetry of snowflakes and crystals, lead us to trust that it is not just living organisms that properly rationally but inorganic matters also - rationally in the sense that they function with the objective of constrained vital optimization that produces effective outcome.

Author(s) Details:

Jong Soue You,
Algoma University, Sault Ste. Marie, Ontario, Canada.

Please see the link here: https://stm.bookpi.org/CTBEF-V9/article/view/11454

Prospects for the Use of Hydrogel in the Cultivation of Melon | Chapter 5 | Emerging Issues in Agricultural Sciences Vol. 4

 The use of Aquasource hydrogel (Ecotechnology LLC) was studied at the Scientific Center of Vegetable and Industrial Crops (MoE RA) for three age (2020–2022). An objective has been start to study the effect of local application of miscellaneous amounts of the biodegradable Aquasource polymer to the soil on the progress, productivity, and kind of fruits and seedlings of fruit plants (Cucumis melo L). Hydrogel in the ratio: Soil join +Aaquasource (3:0.1), Soil mix+Aquasource (3:0.15), Soil join +Aquasource (3:0.2) compared accompanying the control (Soil join without Aquasource) had a beneficial effect on the early appearance of female flowers, lowering the terms of mechanics ripening and fruit character. Additionally, the melon profitable yield indicator was above the control (230.9±2.73 c/ha), coming in at 287.5±2.94, 308.0±2.27 and 307.0±3.05 c/ha, individually. The same style was seen accompanying seed yield: 360.7±2.87, 399.6±10.01, 392.1±9.20kg/ha, individually, with control 287.2±8.05 kg/ha. The financial efficiency of engaging Aquasource was determined expected between 120.4 and 128.6%, and worth was between 67.6 and 69.0% (accompanying control at 61.9%). This was accomplished by threatening the cost of available water, labor, and the provision of taller output.

Author(s) Details:

Armenuhi Pahlevanyan,
Department of Breeding, Seed Production and Cultivation Technology of Protected Ground, Scientific Centre of Vegetable and Industrial Crops, Ministry of Economy of the Republic of Armenia, Republic of Armenia.

Gayane Martirosyan,
Department of Seed Production and Primary Products Processing, Scientific Centre of Vegetable and Industrial Crops, Ministry of Economy of the Republic of Armenia, Republic of Armenia.

Laura Tadevosyan,
Department of Seed Production and Primary Products Processing, Scientific Centre of Vegetable and Industrial Crops, Ministry of Economy of the Republic of Armenia, Republic of Armenia.

Raya Balayan,
Department of Seed Production and Primary Products Processing, Scientific Centre of Vegetable and Industrial Crops, Ministry of Economy of the Republic of Armenia, Republic of Armenia.

Zara Harutyunyan,
Scientific Centre of Agribiotechnology, Armenian National Agrarian University, Republic of Armenia.

Iryna Vardanian,
Plant Biotechnology, Phytopathology and Biochemistry Laboratory, Scientific Center of Vegetable and Industrial Crops, Ministry of Economy of the Republic of Armenia, Republic of Armenia.

Please see the link here: https://stm.bookpi.org/EIAS-V4/article/view/10814

Identification of Economically Viable Cropping Systems for Vertisols of Northern Telangana, India: A Recent Study| Chapter 9 | Research Developments in Science and Technology Vol.4

This research was carried out in 2016-17 at the AICRP on Integrated Farming Systems, Regional Sugarcane and Rice Research Station, Rudrur, with the goal of diversifying existing rice-rice cropping systems with less water-demanding crops for vertisols of Northern Telangana Zone under irrigated dry conditions. In a three-replication Randomized Block Design (RBD) experiment, twelve cropping systems were utilised as treatments. During the kharif and rabi seasons, twelve cropping system combinations were examined. On a system level, the turmeric+soybean (1:2) BBF– sesame+blackgram (2:4) turmeric – sesame cropping cycle produced considerably greater production in terms of rice equivalent yield (REY) of 23830 kg ha-1. However, with production of 23332 kg ha-1 and 21389 kg ha-1, it was comparable to turmeric – sesame and turmeric + soybean (1:2) on flat bed – bajra crop sequences. Rice-rice farming strategy had lower production (10725 kg ha-1). Bt. cotton – sesame + black gramme (2:4) on BBF (Rs222838 ha-1) came in first, followed by Bt Cotton + Soybean (1:2) (BBF) – Sesamum + Groundnut (2:4) (Rs221160 ha-1) and Maize+soybean (2:4)–tomato (Rs221160 ha-1) (Rs212909 ha-1). In the traditional rice-rice scheme, lower net returns were recorded (Rs88179 ha-1). Bt Cotton + Soybean (1:2) (BBF)- Sesamum + Groundnut ((2:4) and Maize+soybean (2:4)–tomato were economically better with REE of 152.71 percent, 150.81 percent, and 141.45 percent, respectively. In the vertisols of Northern Telangana Zone, rice-rice farming is less productive and economically inferior for the majority of farmers, indicating a greater possibility to diversify existing rice-rice cropping systems with high-yielding, economically viable cropping systems.

Author(s) Details:

Firdoz Shahana,
AICRP on Integrated Farming Systems, Sub Centre: Regional Sugarcane and Rice Research Station, Rudrur- 503188, Nizamabad District, Telangana State, India.

M. Goverdhan,
AICRP on Integrated Farming Systems, Sub Centre: Regional Sugarcane and Rice Research Station, Rudrur- 503188, Nizamabad District, Telangana State, India.

S. Sridevi,
AICRP on Integrated Farming Systems, Sub Centre: Regional Sugarcane and Rice Research Station, Rudrur- 503188, Nizamabad District, Telangana State, India.

B. Joseph,
AICRP on Integrated Farming Systems, Sub Centre: Regional Sugarcane and Rice Research Station, Rudrur- 503188, Nizamabad District, Telangana State, India.

Please see the link here: https://stm.bookpi.org/RDST-V4/article/view/6857

Fodder Crop Farming Sustainability Groundwater Management and Risk Management Efficiency | Chapter 6 | Cutting-edge Research in Agricultural Sciences Vol. 6

 In the Sultanate of Oman's coastal region, the Rhodes Grass crop is continuously cultivated. This form of farming had a negative effect on the overall agriculture system and production. Since 2012, the government has prohibited the cultivation of Rhodes grass along the coast and has encouraged farmers to cultivate new agricultural land in Najed. Groundwater tables have sunk to low levels as a result of heavy depletion of groundwater for nine years to irrigate the Rhodes Grass crop and competitive abstraction, resulting in depleted aquifers. At the end of September 2020, the planted area and yield had decreased by 49 percent and 58 percent, respectively, resulting in a total loss of 5.3 million dollars. The aim of the study is to examine the project's climate and economic viability, as well as to outline the best risk management techniques for increasing project profitability. The study uses a stochastic budgeting approach to assess the government's intensive fodder crop farming strategies in the face of uncertainty. To represent risk variables and draw NPV probability distributions, the stochastic budgeting simulation model was used. Various reward strategies were assessed and rated based on risk aversion levels. According to the report, providing raw material subsidies for Rhodes Grass cultivation would reduce expected loss probability from 95 percent to 50 percent at Hanfeet farm and from 78.6 percent to 70 percent at Dawkah district, as well as increase the likelihood of achieving an acceptable positive net present value. According to the SERF analysis for the Alfalfa crop, the raw material (RM) subsidy option is the most risk efficient strategy for Dawkah farm, followed by the minimum revenue grantee (MRG) subsidy for Hanfeet farm. At Hanfeet Farm, a Rhodes Grass crop with a raw material subsidy and a minimum revenue grantee is risk effective. According to the findings, the existing capital subsidy strategy is insufficient to reduce risk and ensure long-term viability at Najed locations. Government officials must track and regulate groundwater, measure the cost of each risk management method, and choose the one that will allow agricultural activities to continue.

Author (s) Details

Dr. Kheiry Hassan M. Ishag
Dhofar Cattle Feed Company, P.O.Box 1220, PC 211, Sultanate of Oman.

View Book :- https://stm.bookpi.org/CRAS-V6/issue/view/59