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Permanent URI for this collectionhttps://hdl.handle.net/20.500.14288/3

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    Supported nondominated points as a representation of the nondominated set: an empirical analysis
    (Wiley, 2024) Department of Business Administration; Sayın, Serpil; Department of Business Administration; College of Administrative Sciences and Economics
    The nondominated set of a multiple objective discrete optimization problem is known to contain unsupported nondominated points, which outnumber the supported ones and are more difficult to obtain. We treat supported nondominated points as a representation and analyse their quality using different metrics beyond their sheer numbers. Under different data generation schemes on multiobjective knapsack and assignment problems, we observe that supported nondominated points almost always provide a good representation of the entire nondominated set.
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    How consumers' economic and psychological vulnerabilities impact their consumption regulation during crisis
    (Wiley, 2024) Karaosmanoğlu, Elif; Okan, Mehmet; Altıniğne, Neşenur; Demir, Özge; İdemen, Elif; Işıksal, Didem Gamze; Graduate School of Business
    This paper focuses on the economic and psychological vulnerabilities that are intensified due to the effects of the COVID-19 pandemic on individuals' health, education and living standards. The deteriorating mental and financial conditions of individuals, called psychological and economic vulnerability, have made an impact on consumers' consumption patterns and habits. This study has proposed that when consumer vulnerabilities increase, consumers will be more likely to express prosocial behaviours and assume higher social capital change that may influence their consumption regulations. The findings are based on a panel survey of 786 individuals via CATI in two waves of data collection in Turkiye (Wave I: 20 July-10 August 2020;Wave II: 20 November-10 December 2020). In Wave I, it is found that when individuals face economic and psychological vulnerability, their tendency to show prosocial behaviour is negatively affected. In Wave II, when the COVID-19 cases peaked, while economic vulnerability still leads to lower prosocial behaviour, psychological vulnerability gets reversed and results in higher prosocial behaviour. Interestingly, in both waves, when consumers perceive positive social capital change due to increased prosocial behaviour, they are less likely to show consumption regulation.
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    Interpretation of the scope of international commercial arbitration agreements: a comparison of Swiss and Turkish case law
    (Springer Heidelberg, 2024) Önay, Işık; Law School
    Determining the extent to which parties have agreed to submit their disputes to arbitration is a matter of contract interpretation. It is very rare that an international arbitration convention or national legislation on international arbitration provides specific rules pertaining to interpretation of the scope of arbitration agreements. Therefore, general rules of contract interpretation are usually used as a starting point to construe the scope of international commercial arbitration agreements. Developing specific principles for interpretation is left to courts and arbitral tribunals. This paper focuses on the practice of courts regarding this matter in two countries, i.e., Switzerland and Turkey. The paper firstly provides an overview of the general principles adopted by the courts in the two countries. Then case law in both countries is compared and contrasted with regard to selected scenarios frequently occurring in practice. The comparison of case law reveals how courts' differing approaches to arbitration can make a difference in practice, even where very similar rules are applied. The comparison confirms the reputation of Swiss courts for adopting a pro-arbitration approach. Turkish courts, on the other hand, seem to be more reluctant in construing the scope of international commercial arbitration agreements broadly. This paper argues that the current practice in Turkey does not reflect the legislator's intent and courts should change their practice and adopt a more liberal approach in line with contemporary trends in international commercial arbitration practice.
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    Price discrimination through multi-level loyalty programs
    (Springer, 2016) Department of Business Administration; Department of Economics; Sayman, Serdar; Usman, Ali Murat; Faculty Member; Teaching Faculty; Department of Business Administration; Department of Economics; College of Administrative Sciences and Economics; College of Administrative Sciences and Economics; 112222; 100999
    Loyalty programs often feature multiple rewards with different requirements; for instance, an airline offering a free domestic ticket for 10 K miles, and an international ticket for 20 K miles. This research focuses on the role of multi-level rewards as a segmentation and price discrimination mechanism: Multi-level rewards can increase firm profits when buyers differ in purchase frequency and/or time discount factor. We propose that a program with two rewards can be designed in such a way that (i) it is more profitable than a one-reward program, and (ii) buyers self-select. Light users prefer to receive the smaller reward two times over receiving the larger reward one time, even though the smaller reward is less than half of the larger reward. We show that the smaller reward helps the firm enlarge its base in the light user segment. We also compare multi-level programs with quantity discounts.