Preview

Microeconomics

Better Essays
Open Document
Open Document
1188 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Microeconomics
The approach used by airlines to manage complex route networks is now helping other companies manage their software networks. Within nine months, a retail bank overcomes the limitations of thirty-year-old "legacy" microeconomics systems to launch a high-tech operation that offers its customers a complete range of banking services over the telephone. Another bank is able to roll out, within three months of an acquisition, information systems that deliver the same level of service to all customers at all branches, new and old. (Richard 2002, 177)

For these companies, Microeconomics has genuinely become an enabler of change that boosts competitive performance. The secret: a "hub -and- spoke" approach to building the kind of information systems
…show more content…
This approach, based on the work of McFadden (Domencich & McFadden, 1975; McFadden, 1986), provides a means for modeling the cognitive mechanisms that are typically absent in econometric specifications of choice. The inclusion of decision makers ' generalized attitudes and beliefs in the modeling process begins to open the black box that governs choice behavior. The results of our analyses demonstrate that general aviation pilots make decisions about airport use as reasoned adjustments to airport features that either increase or decrease the pilot 's expected value or utility for the airport. The findings, moreover, show that pilots find some airport attributes to be compelling and others to exert a very small impa ct on the choice of an …show more content…
Changing a single service or adding even one flight to a pre-set schedule created such a domino effect on connecting flights that real optimization was impossible. For every type of request, the hub must contain some logic that acts as a master script specifying which applications on which spokes have relevant information and so must be consulted to formulate an answer. (Damon 1994, 40) Knowledge about the fastest method of access to information The master script must also know which information has to be requested in sequence from different systems and which tasks can be executed in

You May Also Find These Documents Helpful

  • Good Essays

    Microeconomics Practice

    • 2318 Words
    • 10 Pages

    Which of the following most correctly describes GDP? GDP is the sum of the market value of all…

    • 2318 Words
    • 10 Pages
    Good Essays
  • Satisfactory Essays

    microeconomics

    • 293 Words
    • 2 Pages

    Define the principal agent problem= The Principal Agent problem arises when an employee acts in their own best interest instead of in the best interest of the company or stockholders.…

    • 293 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    microeconomics

    • 3367 Words
    • 21 Pages

    the CPI equals aggregate demand (AD) equals short-run aggregate supply (SRAS) equals long-run aggregate supply (LRAS).…

    • 3367 Words
    • 21 Pages
    Powerful Essays
  • Powerful Essays

    Turban, E., Rainer, R. K., & Potter, R. E. (2003). Introduction to Information Technology Chapter 13: Strategic Systems and Reorganization. Retrieved from https://ecampus.phoenix.edu/content/eBookLibrary2/content/eReader.aspx.…

    • 2032 Words
    • 9 Pages
    Powerful Essays
  • Good Essays

    Microeconomic

    • 1531 Words
    • 7 Pages

    1. Indicate whether each of the following statements applies to microeconomics or macroeconomics, and why: 12 Marks Total…

    • 1531 Words
    • 7 Pages
    Good Essays
  • Satisfactory Essays

    Microeconomics

    • 288 Words
    • 2 Pages

    much must real GDP have risen after two years to close the real GDP gap?…

    • 288 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    microeconomics

    • 1674 Words
    • 7 Pages

    3. Consider the market for minivans. For each of the events listed here, identify which of the determinants of demand or supply are affected, also indicate whether demand or supply increases or decreases. Then draw the diagram to show the effect on the past and quantity of minivans…

    • 1674 Words
    • 7 Pages
    Better Essays
  • Best Essays

    marketing. With the aid of IST, companies can become competitive in all phases of customer…

    • 2839 Words
    • 12 Pages
    Best Essays
  • Satisfactory Essays

    Microeconomics

    • 464 Words
    • 2 Pages

    APPLICATION FORM for SP Donors-Sponsored Scholarships or Bursaries / MOE Bursary /CDC-CCC Bursary* For Academic Year 20___ /___…

    • 464 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Microeconomics

    • 683 Words
    • 3 Pages

    Study the effect in words and graph of the following events on market equilibrium using the 3-step DD-SS analysis:…

    • 683 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Microeconomics

    • 500 Words
    • 2 Pages

    Cap and trade is in fact a tax on emissions, therefore, each company will have a limit on the amount of gas that can emit. The company must have a permission of emissions per ton of Cabon Dioxide that relased into the atmosphere. According to the article of Green Energy News, “Basically, the cap-and-trade bill seeks to cut down drastically on the amount of carbon emissions companies are able to release into the atmosphere.”…

    • 500 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Real Gross Domestic Product (GDP) is “the market value of final goods and services produced in an economy, stated in the prices of the giver year” (Colander, G-7). Real GDP is an inflation measure of the production of goods and services in the economy. It reflects price changes throughout the year. The real GDP is base more on realistic numbers instead of a guess. The calculation is more accurate concerning the gross domestic product for the previous year.…

    • 940 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Microeconomics

    • 286 Words
    • 2 Pages

    Explanation of the link :We can see in this article that the market equilibrium is disturbed due to the sudden change of the production caused by the Hurricane Katrina.Since natural gas is the most popular home heating resource, the elasticity of demand will be inelastic because the price increases as the quantity decreases.There is an excess in demand and a shortage in production which causes an upward pressure on the price.In order to reach the new equilibrium point, the price increases and the quantity lowers.See the illustration below for better comprehension:…

    • 286 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Micro Economics

    • 664 Words
    • 3 Pages

    (a) Explain and illustrate using suitable diagrams, the impact of external costs and external benefits on resource allocation; (2.5 marks)…

    • 664 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Based on Bloomberg article by Andrew Roberts, November 4 2011 Hermes wanted to build two more factory because they reach their full target until 4 November and since they know they quantity demand will always increase, their goal in 2012 to raise the quantity demand until 14 percent. They think Europe debt crisis would not effect their selling on 2011. They are thinking about increasing the price of their product due to the increase price for raw materials. In my opinion the demand and supply of Hermes product keep stable from last year…

    • 1258 Words
    • 6 Pages
    Good Essays

Related Topics