A Survey on Ranking in Information Retrieval System

A Survey on Ranking in Information Retrieval System Shikha Gupta Abstract Available information is expanding day by day and this availability makes access and proper organization to the archives critical for efficient use of information. People generally rely on information retrieval (IR) system to get the desired result. In such a case, it is the duty of the service provider to provide relevant, proper and quality information to the user against the query submitted to the IR System, which is a challenge for them. With time, many old techniques have been modified, and many new techniques are developing to do effective retrieval over large collections. This paper is concerned with the analysis and comparison of various available page ranking algorithms based on the various parameters to find out their advantages and limitations in ranking the pages. Based on this analysis of different page ranking algorithms, a comparative study has been done to find out their relative strengths and limitations. This paper also tries to find out the further scope of researc h in page ranking algorithm. Keywords Information Retrieval (IR) System, Ranking, Page Rank, HITS, WPR, WLR, Distance Rank, Time Rank, Query Dependent, Context. 1. INTRODUCTION 1.1 Information Retrieval System Information retrieval systems are defined as some collection of components and processes which takes input in the form of a query from the user to the system, then compares it with the information which has been collected by the system, and then produce an output, which is some set of texts or information objects considered to be related to the query. It is the activity of obtaining the information resources which are relevant to an information need(query) from a collection of information resources. Data structure used by an IR system is Inverted index which is an index of {term, doc IDs} entries. IR system consists of three main components: firstly the user in the system; then the knowledge resource on which the user has an access and with which s/he interacts; and, a person(s) and/or device(s) that supports and mediates the interaction of the user with the knowledge resource (the intermediary). User FeedbackUser Query RankedExecutable DocumentsQuery Fig: IR architecture In an IR System the processes which are to be considered as important are: Representation of the user’s information problem which is in the form of texts in the knowledge resource: e.g. indexing; Comparison of representation of texts and information problem: e.g. retrieval techniques; Interaction between the user and an intermediary: e.g. human-computer interaction or reference interview; and, sometimes, Judgment of appropriateness of the text to information problem submitted by the user: e.g. relevance judgments; and Modification of the representation of an information problem: e.g. query reformulation or relevance feedback. 1.2 Ranking Ranking is a process of arranging the resulted documents in the order of their relevancy. An information retrieval process begins when the user enters aqueryinto a system. Queries can be defined as formal statements ofinformation needs, for example the search strings in web search engines. In information retrieval not only a single object uniquely identifies a query in the collection, rather, several objects may match the query, but, with different degrees ofrelevancy. Most of the IR systems compute a numeric score for each object in the database to determine how well each of them matches the query, and then it rank the objects according to this calculated value. After ranking, objects having top ranks are shown to the user. The user can then iterate the process by refining the query, if required. Use of ranking To improve search quality. To do effective retrieval over large collections. Granting relevant, efficient, fast and quality information against the user query. 2. RELATED WORK In this paper, a review of previous work on ranking is given. In the field of ranking, many algorithms and techniques have already been proposed but they all seem to be less efficient in efficiently granting the rank. The various algorithms are defined below. . Page Rank Algorithm Page Rank Algorithm is one of the most common ranking algorithms. It is alink analysisalgorithm which provides a way of measuring the importance of pages. Its working is based on the number and quality of links to a page to make a rough estimate of the importance of the page. It is based on the assumption that more important pages are will receive more links from other pages. The numerical weight that it assigns to any given elementEis referred to as thePageRank of Eand is denoted by PR (E). HITS Algorithm Hyperlink-Induced Topic Search(HITS; also known ashubs and authorities) is alink analysisalgorithmthat rates pages. In links and out links of the web pages are processed to rank them. A good hub represents a page that pointes to many other pages, and a good authority represents a page that was linked by many different hubs. The scheme therefore assigns two scores for each page: its authority, which estimates the value of the content of the page, and its hub value, which estimates the value of its links to other pages. HITS algorithm has the limitation of assigning high rank value to some popular pages that are not highly relevant to the given query. Hubs Authorities Fig: Hubs and Authorities Weighted Page Rank Algorithm Weighted Page Rank algorithm (WPR) is an extension to the standard Page Rank algorithm. The importance of both in-links and out-links of the pages are taken into account. Rank scores are distributed based on the popularity of the pages. Number of in-links and out-links are observed to determine the popularity of a page. This algorithm performs better than the conventional Page Rank algorithm in terms of returning a large number of relevant pages to the given query. Weighted Links Rank Algorithm Weighted links rank (WLRank) algorithm is a variant of Page Rank algorithm. Different page attributes are considered to give more weight to some links, for improving the precision of the answers. Various page attributes which are considered for assigning the weight are: tag in which the link is contained, length of the anchor text and relative position in the page. The use of anchor text is the best attribute of this algorithm. Distance Rank Algorithm It is an intelligent ranking algorithm based on learning. In this algorithm, the distance between pages is calculated. The distance is deà ¯Ã‚ ¬Ã‚ ned as the number of ‘‘average clicks’’ between two pages. It considers distance between pages as a punishment and therefore aims at minimizing this distance so that a page with less distance will get a higher rank. The Advantage of this algorithm is that it can find pages with high quality and more quickly with the use of distance based solution. Also, the complexity of Distance Rank is low. The Limitation of this algorithm is that it requires a large calculation to calculate the distance vector. Time Rank Algorithm This algorithm utilizes the time factor to increase the accuracy of the web page ranking. In this the rank score is improved by using the visit time of the page. The visit time of the page is measured after applying original and improved methods of web page rank algorithm to know about the degree of importance to the users. Time factor is used in this algorithm to increase the accuracy of the page ranking. It is a combination of content and link structure. It provides satisfactory and more relevant results. Query Dependent Ranking Algorithm This algorithm is used to point out a large variety of queries. The similarities between the queries are measured. The ranking of documents in search is conducted by using different models based on different properties of queries. The ranking model in this algorithm is the combination of various models of the similar training queries. Categorization by context This approach proposes a ranking scheme in which ranking is done on the basis of context of the document rather than on the terms basis. Its task is to extract contextual information about documents by analyzing the structure of documents that refer to them. It uses context to describe collections. It is used to overcome the disadvantages of term based approach. 3. CONCLUSION AND FUTURE SCOPE A large number of algorithms are present today which can be used for ranking the pages in Informational Retrieval System. There will always be a scope of better ranking of pages as each algorithm has its associated advantages and disadvantages. In term based approach, there are problems of Synonymy (means multiple words having the same meaning) and Polysemy (means that a word has multiple meanings). On the other hand, in context based approach, the problem is that the pages which refer to a document must contain enough hints about its content so that they are sufficient to classify the document. According to the requirements of the user, the IR system should use an appropriate algorithm. Use of an efficient algorithm will provide speedy response, and, accurate and relevant results. REFERENCES [1] Wenpu Xing and Ali Ghorbani, â€Å"Weighted PageRank Algorithm†, In proceedings of the 2rd Annual Conference on Communication Networks Services Research, PP. 305-314, 2004. [2] Ricardo Baeza-Yates and Emilio Davis ,Web page ranking using link attributes , In proceedings of the 13th international World Wide Web conference on Alternate track papers posters, PP.328-329, 2004. [3] H Jiang et al., TIMERANK: A Method of Improving Ranking Scores by Visited Time, In proceedings of the Seventh International Conference on Machine Learning and Cybernetics, Kunming, 12-15 July 2008. [4] Jon Kleinberg, â€Å"Authoritative Sources in a Hyperlinked Environment†, In Proceedings of the ACM-SIAM Symposium on Discrete Algorithms, 1998. [5] Ali Mohammad Zareh Bidoki and Nasser Yazdani, â€Å"DistanceRank: An Intelligent Ranking Algorithm for Web Pages†, Information Processing and Management, 2007. [6] Dilip Kumar Sharma and A. K. Sharma,â€Å" A Comparative Analysis of Web Page Ranking Algorithms†, in International Journal on Computer Science and Engineering, 2010. [7] Giuseppe Attardi and Antonio Gullà ¬, â€Å"Automatic Web Page Categorization by Link and Context Analysis†, [8] Parul Gupta and Dr. A.K.Sharma, â€Å"Context based Indexing in Search Engines using Ontology†, 2010 International Journal of Computer Applications. [9] Abdelkrim Bouramoul, Mohamed-Khireddine Kholladi1 and Bich-Lien Doan, , â€Å" USING CONTEXT TO IMPROVE THE EVALUATION OF INFORMATION RETRIEVAL SYSTEMS† International Journal of Database Management Systems, May 2011. [10] Xiubo Geng, Tie-Yan Liu, Tao Qin, â€Å"Query Dependent Ranking Using K-Nearest Neighbor†, SIGIR’08, July 20–24, 2008, Singapore

Marketing Project on Nokia Essay

Introduction: Nokia is a world leader in mobile phone industry, but its market share has recently been diminished by tough competition in the smart phone market. It targeted rural markets with mobile phones that are affordable and, the mobile phones were not only for the communication but also for varied purposes like torch light, radio etc. Farmers use it during nights as a torch light. Nokia was able to fully penetrate and conquer the still untapped rural mobile phone market. Nokia plans to conquer the untapped rural market by providing additional services like information on agriculture, microfinance, weather reports. Background: In 1865, an engineer named Fredrik Idestam established a wood-pulp mill and started manufacturing paper in southern Finland near the banks of a river. Those were the days when there was a strong demand for paper in the industry, the company’s sales achieved its high-stakes and Nokia grew faster and faster. The Nokia exported paper to Russia first and then to the United Kingdom and France. The Nokia factory employed a fairly large workforce and a small community grew around it. In southern Finland a community called Nokia still exists on the riverbank of Emà ¤koski. Finnish Rubber Works, a manufacturer a Rubber goods, impressed with the hydro-electrcity produced by the Nokia wood-pulp (from river Emà ¤koski), merged up and started selling goods under the brand name on Nokia. After World War II, it acquired a major part of the Finnish Cable Worksshares. The Finnish Cable Works had grown quickly due to the increasing need for power transmission and telegraph and telephone networks in the World War II. Gradually the ownership of the Rubber Works and the Cable Works companies consolidated. In 1967, all the 3 companies merged-up to form the Nokia Group. The Electronics Department generated 3 % of the Group’s net sales and provided work for 460 people in 1967, when the Nokia Group was formed. In the beginning of 1970, the telephone exchanges consisted of electro-mechanical analog switches. Soon Nokia successfully developed the digital switch (Nokia DX 200) thereby replacing the prior electro mechanical analog switch. The Nokia DX 200 was embedded with high-level computer language as well as Intel microprocessors which in turn allowed computer-controlled telephone exchanges to be on the top and which is till date the basis for Nokia’s netwok in infrastucture Introduction of mobile network began enabling the Nokia production to invent the Nordic Mobile Telephony(NMT), the world’s very first multinational cellular network in 1981. The NMT was later on introduced in other countries. Very soon Global System for Mobile Communication (GSM), a digital mobile telephony, was launched and Nokia started the development of GSM phones. Beginning of the 1990 brought about an economic recession in Finland. (Rumour has it that Nokia was offered to the Swedish telecom company Ericsson during this time which was refused) Due to this Nokia increased its sale of GSM phones that was enormous. This was the main reason for Nokia to not only be one of the largest but also the most important companies in Finland. As per the sources, in August 1997, Nokia supplied GSM systems to 59 operators in 31countries. Slowly and steadily, Nokia became a large television manufacturer and also the largest information technology company in the Nordic countries. During the economic recession the Nokia was committed to telecommunications. The 2100 series of the production was so successful that inspite of its goal to sell 500,000 units, it marvellously sold 20 million. Presently, Nokia is the number 1 production in digital technologies, it invests 8.5% of net sales in research and development. Also has its annual Nokia Game. Between 1992 and 1996, the company exited from the rubber and cable businesses as well Nokia in india: Nokia entered the Indian market in 1994. The first ever GSM call in India was made on a Nokia 2110 mobile phone on its own network in 1995. When Nokia entered India, the telecom policies were not conducive to the growth of the mobile phone industry. The tariffs levied on importing mobile phones were as high as 27%, usage charges were at Rs.16 per minute and, at these high rates, consumers did not take to mobile phones. Nokia also had to face tough competition from other powerful global players like Motorola, Sony, Siemens and Ericsson, Samsung, reliance. ————————————————- The Indian Mobile Phones IndustryThe mobile phones industry made a slow start in India in 1995. Several private players who had entered the industry in 1995 exited in the next few years due to the unfriendly telecom policies of the Indian government, high licensing fees and absence of a proper telecom regulatory body. The growth in the subscriber base of mobile phones remained sluggish initially, reaching the 1 million milestone in 1998. In 1999, the Government of India announced a new telecom policy. This policy planned to provide telephones on demand by 2002.| Among other things, the policy allowed unrestricted private entry into almost all mobile service sectors. The government allowed cellular mobile service providers to share infrastructure with other operators. It also allowed existing operators to migrate from fixed license fee to one-time entry fee with revenue sharing. This policy helped many private operators to break even faster. By 2001, the demand for mobile services was growing well. The private companies concentrated on providing basic telephone services to consumers. The number of mobile phones crossed five million by 2001 and doubled to 10 million in 2002†¦

What Is So Fascinating About Cool History Essay Topics?

What Is So Fascinating About Cool History Essay Topics? More important is that you demonstrate your comprehension of the question collection. You just have a limited quantity of space or time, so think about exactly how much detail to give. As it's such a huge subject, you're going to want to narrow your paper down to a particular angle. Unless there's depth in the topic, you will not be able to generate a well-rounded argument about the advantages and disadvantages of your topic. To put it differently, you've got to believe very carefully about the question you are requested to reply. The essential word in the aforementioned paragraphs is think. The very first sentence employs the verb began, signaling he is moving to a different subject, or a new chapter in his story. The topic sentence tells the reader precisely what the paragraph is all about. Don't forget, if you're writing an argument about whether they really existed, you will want to present evidence to strengthen your argument but will also will need to deal with the counterargument. Animals' rights are always a good problem to discuss, particularly with students. So think as difficult as you can concerning the significance of the question, about the issues it raises and the ways that you can answer it. The very best evidence and facts are summarized without the usage of any new info. Your essay might incorporate the explanations for teen pregnancy and talk about the present rates of teen pregnancy and potential solutions. If you do, you are able to now write on topics which are going to be humorous to them. Remain realistic and pick a topic you are able to research. Try out anything which broadens your understanding of expected topics. You want to produce your home seem remarkable and alluring. If you receive totally confused, have a break. When you build a home, you don't just live there. You may want to incorporate a concise history of plastic surgery and why it has gotten so popular. Always think deeply about the way to create a superior essay structure it's a significant part academic writing. Every section of an essay is crucial, but the very first paragraph is critical. If you would like to compose the essay yourself, we believe it would be best to pick a universal subject or issue. A protracted essay is one which you won't finish overnight. Maybe you simply do not know the subject well enough, and that's the reason you can't locate the idea for your history essay. The very first thing you ought to determine is what's meant by contemporary history. Because the prolonged essay contains far more words than a typical essay, the selection of topic should be such a good argument can be developed and resolved. Bear in mind that you may make funny argumentative essays if you do a few things. Writing the college application essay is a challenging gig. On our site you will discover far more useful special information that will certainly be handy for junior and higher school kids from, like common home task essay about Hamlet, together with, for instance, application essays for college for future students. If you're looking for assistance with your essay then we provide a comprehensive writing service offered by fully qualified academics in your area of study. From time to time, employing the exact same topics over and over again makes students bored and not able to find inspiration to compose essays. There are an endless number of methods to compose an essay because any type of writing is a method of self-expression. You might think that interesting essay titles do all of the work, permitting you to add obvious examples and share ordinary ideas. Explaining how to spend less by employing open-source texts and internet textbook rental websites would result in an extremely informative essay. In the event you cannot find your subject here, don't hesitate to have a talk with our staff and put an order for a customized history essay on your specific subject.

The Story Of An Hour - 1283 Words

â€Å"The Story of an Hour† For this story, I will use Mrs. Mallard as the example, and will discuss her challenges and struggles. According to the text, she was â€Å"afflicted with a heart trouble, so based on that alone we know that she struggled with delicate health issues. The narrator further described her as, â€Å"young, with a fair, calm face, whose lines bespoke repression and even a certain strength.† The ‘lines’ or wrinkles of repression that he speaks of is most likely caused by the stress of suppressing feelings or emotions in her life. Although she described her husband in a positive light, I do not believe she was happy and/or in love with him. My assumption is based on the fact that she demonstrated an incredible sense of relief when she thought he had passed on. A good example of this conclusion is the following quote: â€Å"And yet she had loved him – sometimes. Often she had not. What did it matter! What could love, the unsolved mystery, count for in face of this possession of self-assertion which she suddenly recognized as the strongest impulse of her being!† I can only assume that she loved him, but was not â€Å"in love† with him. Once he supposedly died, she was consumed with happy thoughts of freedom. Her husband may have very well restricted her freedom, but then again, most husbands in his position may have done the same. She gave a small glimpse of his authority over her, when she stated that his influence on her day-to-day life was an occurrence of â€Å"powerful will.†Show MoreRelatedThe Story Of An Hour And The Story Of An Hour2009 Words   |  9 PagesWomen are taught from a young age that marriage is the end all be all in happiness, in the short story â€Å"The Story of An Hour† by Kate Chopin and the drama â€Å"Poof!† by Lynn Nottage, we l earn that it is not always the case. Mrs. Mallard from â€Å"The Story of an Hour† and Loureen from â€Å"Poof!† are different characteristically, story-wise, and time-wise, but share a similar plight. Two women tied down to men whom they no longer love and a life they no longer feel is theirs. Unlike widows in happy marriagesRead MoreThe Story Of An Hour854 Words   |  4 PagesIn â€Å"The Story of an Hour† we are taken through a journey. The journey is the thoughts and emotions going through Mrs. Mallards (Louise) mind. The journey only takes an hour, so everything moves at a fast pace. Louise seemed to process the news of her husband’s death without an initial element of disbelief and shock. She goes right into the reaction of grieving for her husband. She quickly begins to feel other emotions. At first she does not understand them. The journey is a way that Louise comesRead MoreStory of an Hour1203 Words   |  5 PagesThe Story of an Hour 1. There are many themes in The Story of An Hour; ‘heart trouble’ – which describes not only the physical affliction of Mrs Mallard but also the emotional suffering in her marriage. Three other themes that are prominent within this story are; death, freedom and oppression. Though, the themes of freedom and oppression can be seen as the main themes within this story, as we see the character of Mrs Mallard – a Mallard is a type of wild duck, which can be seen as being symbolicRead MoreThe Story Of An Hour1414 Words   |  6 Pagesarticle would be bad satire, a bad argument. Chongyue and Lihua’s â€Å"A Caricature of an Ungrateful and Unfaithful Wife† distorts Kate Chopin’s â€Å"The Story of an Hour† through imaginative exaggeration of character interaction, emotional ignorance, and its simplification of the characters and the text. Firstly, there is no evidence in the text of â€Å"The Story of an Hour† to suggest that Louise Mallard has been at all unfaithful to her husband. One sentence within the article suggests that some readers have sensedRead MoreStory of an Hour848 Words   |  4 PagesStory of an Hour Kate Chopin s the Story of an Hour includes a vast amount of literary devices. Irony, foreshadowing, personification, imagery, symbolism, metaphor and repetition are some of the major literary techniques used by Chopin within this short story about a woman named Mrs. Mallard. Although the story covers only one hour in the life of the main character, the use of these various literary techniques present the theme of the story to the reader in a very entertaining manner. TheRead MoreStory of an Hour619 Words   |  3 Pages â€Å"The story of an hour† is a short story written by Kate Chopin. According to Wikipedia, she was born Katherine O’Flaherty on February 8, 1850, in St. Louis, Missouri. She was an American author of short stories and novels. She is now considered by some to have been a forerunner of feminist authors of the 20th century. â€Å"The story of an hour† was written on April 19, 1894 but was originally published in Vogue on December 6, 1894 as â€Å"The Dream of an Hour†. It was first reprintedRead MoreThe Story Of An Hour1169 Words   |  5 Pages â€Å"The Story of an Hour† is a story that in a few pages creates commentary, emotions, and thoughts about a simple yet very important part of every civilization. It is quite amazing that a short story written over a hundred years ago is still relevant to our society today. Every successful civilization has had some form of marriage, and while this story is to many criticizing the institution of marriage, I believe that people could see this dichotomy of oppressor vs oppressed that this story triesRead MoreThe Story of an Hour1203 Words   |  5 PagesAyodeji Ilesanmi Ms. Pape English 1302.626 February 23, 2012 Part One: Alternate ending to â€Å"The Story of an Hour† â€Å"Someone was opening the front door with a latchkey, it was Brently Mallard who entered, a little travel stained, composedly carrying his grip-sack and umbrella. He had been far from the scene of the accident, and did not even know there had been one. He stood amazed at Josephine s piercing cry; at Richards quick motion to screen him from the view of his wife† (Chopin, 16). Read MoreThe Story of an Hour960 Words   |  4 PagesIn The Story of an Hour, Kate Chopin suggests that in certain scenarios, the death of a loved one may be a blessing in disguise. Possible situations may include an abusive relationship, or an unhappy marriage, as the story suggests. Although the circumstances throughout the story might lead the reader to believe that Louises husbands death would cause her great pain, ironically, when she hears the news, she feels a sense of euphoria. This suggests that death may not always cause agony. LouisesRead MoreA Story Of An Hour1289 Words   |  6 PagesMost stories have more than one conflict, some bigger than others, but all important as a story progressives to the very moment everything clicks and comes together. After that point, the story starts to wind down, lose ends are tied, and the reader gets the satisfying feeling of a happy ending. The Story of an Hour is not your typical short story; but is similar to others in the way that conflicts are the leading force behind a short story. This story starts with Mrs. Mallard finding out any wife’s

The Body Of God s Image - 1781 Words

Most believe that they were made in God’s image, however, Sallie McFague believes that God exists not only on humanoid aspects, but also on a microscopic aspect. The body of God is the universe and everything included in it; the animals, the trees, the oceans, the bacteria. We, as human beings, are responsible to take care of the world and its environment. We need to come to the realization that we are all connected, and that everything, not just everyone, is a piece of God. So who is Sallie McFague? Well, she was born in 1933 on the 25th of May in Quincy, Massachusetts, and when she went to higher schooling she received a Bachelor’s degree in English Literature from Smith College in 1955. Soon after, in 1959 she married Eugene TeSelle,†¦show more content†¦level in some countries and with an equivalent value to the â€Å"Doctor of Science.† According to Wesley J. Wildman, a student at the Graduate Theological Union in Berkeley, during her time at Yale, she was influenced by the dialectical theology of Karl Barth. This theology was Protestantism which was developed Post-WWI. Dialectical theology is characterized as a re-evaluation of the teachings of the Reformation, and it is characterized as a reaction against doctrines of 19th-century liberal theology. The theology emphasizes the role of theologian aiding the preaching of God s word, giving them the responsibility as the helper and critic of the preacher. She gained different perspectives from Karl Barth and reflected on one of her former teachers, H. Richard Niebuhr. Now, according to Wesley J. Wildman, Sallie Mcfague understood Niebuhr’s recognition of liberalism s concern for involvement, perspective, the symbolic imagination and the appearance of the emotions. The influences of these two people are major insights into the content of the McFague’s t heology which are always prevalent in her work. Sallie McFague has written many works pertaining to feminism and the problems facing the world today including poverty, increasing difference poor and rich, and ecological devastation. One of her books, The Body of God, eliminates the last traces of anthropocentricism which Sallie McFague believes has corrupted Christianity with disastrous consequences for the world and

Evaluation of Different Pricing Strategies Free Essays

The models are based on the average cost approach to price setting but differ slightly In detail. The paper Initially examines the models from an analytical point of view. The paper then describes a simulation model used to evaluate the effect of both decision approaches over time. We will write a custom essay sample on Evaluation of Different Pricing Strategies or any similar topic only for you Order Now While the models are analytically similar the simulation results show that the long run behavior of the firm is significantly different under each approach. This work is part of the author’s PhD research and represents ongoing rather than completed work. Please do not quote without prior permission. Introduction This paper continues the author’s examination of firm growth using analytical and simulation modeling methods and which has already been discussed in Brady (1999; AAA, b and c; 2001). This paper specifically examines firm growth under two different managerial policies both of which use the average cost including demand pricing assumption discussed in Brady (2001). Methodology Two models identical in all respects but one were used in this research. Both models used the average cost including demand approach IEEE. Firms produce product at a certain cost and then set out to sell that product at a marked up price. The models defer in the policy adopted by the firm when production exceeds demand for their product. The firm in model A sells whatever quantity it can at Its marked up price as documented In Brady (2001). The firm In model B sells the quantity It produces at the price the market will bear [e. It sells at the price determined by the firm’s demand curve. Model A Is more realistic In that firms Immediately realism that they have exceeded their demand curve In that they are unable to sell product at the marked up price and either they Increase Inventory or goods perish. Model B Is less realistic In that firm’s cannot determine price with certainty from the demand curve (they do not know their demand curve with certainty): in practice firms must determine this price by some kind of atonement mechanism. Note Tanat tons osculation does not model ten atonement process itself; instead it determines the new price directly from the demand curve. In summary, when production exceeds demand, under model A the firm sells less product than it anticipates but holds its price whereas under model B the firm sells all it produces but at a lower price. Specifically model B differs from model A as follows: the demand function (P = a – BC) used is the inverse function to that used in model A (Q = a – BP); these two expressions are functionally equivalent. The models also differ in that in model A units sold were equal to the units produced or units demanded, whichever is the lower; in model B the price at which goods are sold is equal to the marked up price or the demand price (e. The price given by the demand function), whichever is the lower. In all other respects, including the values of all parameters, the models are identical. In the case of both models demand is held constant throughout the simulation ‘e. The demand curve does not shift upwards or downwards during the simulation. Also, depreciation has been set to zero during the simulation and fixed costs remain constant throughout the simulation (IEEE. There is no step increase in fixed costs as described in Brady, 2001). Results The results of the simulation for model A are shown in figures 1, 2, 3 and 4. Examining firstly firm size, as measured by capital, we see in figure 1 that the firm increases in size until approximately period 50 and then firm size remains more or sees constant. To see why this is so we examine firm retained earnings as shown in figure 2. Here we see retained earnings increase monotonically until period 42 and then decrease asymptotically to zero. Figure 3 shows both revenue and total cost and clearly demonstrates this decline in margin. Here we see the firm maintaining its margin percentage until period 42; margin then declines dramatically until approximately period 60; margin continues declining asymptotically to zero. 01 2 0 1 Capital Accumulated_loss 125021002 Time Figure 1. Model A: Capital Retained_earnings 0050100 Figure 2. Model A: retained earnings This decline in earnings is due to the fact that production exceeded demand in period 42 as shown in figure 4. From that period onwards the firm incurred an increasing cost of overproduction and gradually its margin eroded completely. Although the change in period 42 is abrupt the firm comes smoothly to an equilibrium state (although unfortunately for the firm this equilibrium state is one of zero profitability). On the positive side, the firm never makes a loss as it stops increasing production at a point before its price drops below cost. How to cite Evaluation of Different Pricing Strategies, Papers

International Institutions and Organisations

Question: Discuss about the International Institutions and Organisations. Answer: Introduction: Realism is the only theory that can explain the current system of global governance Global governance or world governance is a process of cooperative leadership and political integration of bringing multilateral public agencies, national governments and civil society together (Cabrera, 2011). Global governance aims at negotiating responses that affect more than one region or state and involves institutionalization. The concept of international relations is in a debate if realism is the only theory that explains the current system of global governance. As argued by Stephen Walt, the complete diplomat of the future shall remain aware of realists emphasis on power, reflect on constructivist vision of change and liberals awareness of domestic forces in mind (Ralston, 2013). In an anarchic state, there is nobody hierarchically superior or coercive. Therefore, the realists argue that international cooperation among states is unlikely as the states can never trust each other but themselves. According to a traditional realist Hans Morgenthau, international politics is related with struggle for more power (D'Anieri, 2016). The realists focus on relative gains. They do not favour absolute benefits. It is argued that if one region gains greater power than another, it shall act as a threat to the other states national security. In this new era, realism asserts that international institutions might mitigate for establishing international relations or anarchy while eliminating the idea of a sovereign state. The international system shall remain unchanged and the legitimate use of violence shall be eliminated since the institutions shall have no real power over sovereign states (Dunne, Kurki, Smith, 2013). However, the liberal theory states that international cooperation is possible since they believe in absolute gains as opposed to realists. The liberals do not disagree with the fact that the states shall try to work for their own national interest. But, in terms of absolute advantage, the liberals state that spread of free trade shall reduce the likelihood of conflict. As observed by Michael Doyle, global governance is identified with an essential principle of freedom of individual. The liberal perspective argues that at a minimum heterogeneous state of peace and war, the world could become a state of global peace where war shall disappear (Cabrera, 2011). Doyle further argues that states can be differentiated in a manner they deal with individual rights. Liberals believe that the interest of states can be extended beyond protection of human rights. Further, constructivism deals with norms, rules and institutions constituting interest of states and other international bodies (Dunne, Kurki, Smith, 2013). The theory claims that that the distribution of cultures and ideas determine the shape of international system. The constructivists argue that the capabilities of determining the nature of international system is possible because of the ideas people attach to them (Pease, 2015). It is concluded that realism is the only theory that can explain the current system of global governance. The pluralist approach may be applied for explaining order, power, norms and change. Realists acknowledge the existence of civil society, globalization and transnational forces. It explains the current theory of global governance as it emphasizes on the strategies to improve international competition. References Cabrera, L. (2011).Global governance, global government(p. 91). Albany: State University of New York Press. D'Anieri, P. (2016).International politics. Belmont, CA: Wadsworth Cengage Learning. Dunne, T., Kurki, M., Smith, S. (2013).International relations theories. Oxford: Oxford University Press. Pease, K. (2015).International Organizations. Hoboken: Taylor and Francis. Ralston, S. (2013).Philosophical pragmatism and international relations(p. 178). Lexington Books: USA.