Search Results (510)

In marketing science, product categorization using cannibalization relationship data is an emerging but still underdeveloped area, where clustering using price effect information is a novel direction that is worth further exploration. In this study, by assuming a realistic modeling of the cross-price effect, we developed and experimentally validated with simulations an agglomerative clustering algorithm that outputs clustering results closer to the ground truth compared with other agglomerative algorithms based on traditional cluster linkages. Full article

This study investigates the predictive performance of financial indicators in forecasting stock prices within the automotive sector using an adaptive neuro-fuzzy inference system (ANFIS). In light of the growing complexity of global financial markets and the increasing demand for automated, data-driven forecasting models, this research aims to identify those financial ratios that most accurately reflect price dynamics in this specific industry. The model incorporates four widely used financial indicators, return on assets (ROA), return on equity (ROE), earnings per share (EPS), and profit margin (PM), as inputs. The analysis is based on real financial and market data from automotive companies, and model performance was assessed using RMSE, nRMSE, and confidence intervals. The results indicate that the full model, including all four indicators, achieved the highest accuracy and prediction stability, while the exclusion of ROA or ROE significantly deteriorated model performance. These findings challenge the weak-form efficiency hypothesis and underscore the relevance of firm-level fundamentals in stock price formation. This study’s sector-specific approach highlights the importance of tailoring predictive models to industry characteristics, offering implications for both financial modeling and investment strategies. Future research directions include expanding the indicator set, increasing the sample size, and testing the model across additional industry domains. Full article

This study examines the associations between linearly scored phenotypic traits and auction sales prices of young event horses in Ireland, aiming to identify key traits influencing market value. Data from 307 horses sold at public auctions (2022–2023) were analysed using regression analysis, binary optimisation, and Principal Component Analysis (PCA). Regression identified Head–neck Connection, Quality of Legs, Walk length of Stride, and Scope as highly significant predictors of sales price (p < 0.001), with Length of Croup, Trot Elasticity, Trot Balance, and Take-off Direction also significant (p < 0.05). Optimised regression reduced the number of relevant traits from 37 to 8, streamlining evaluation. PCA highlighted eight principal traits, including Scope, Elasticity, and Canter Impulsion, explaining 61.19% of variance in the first four components. These results demonstrate that specific conformation, movement, and athleticism traits significantly affect auction outcomes. The findings provide actionable insights for breeders and stakeholders, suggesting that targeted selection for high-impact traits could accelerate genetic progress and improve market returns. Furthermore, these traits could underpin the development of economic or buyer indices to enhance valuation accuracy and transparency, with potential application across equestrian disciplines to align breeding objectives with market demands. Full article

The decarbonization of electricity generation by 2030 and the realization of a net-zero economy by 2050 are central to the United States’ climate strategy. However, large-scale renewable integration introduces operational challenges, including extreme ramping, unsafe dispatch, and price volatility. This review investigates how demand–response (DR) aggregators and distributed loads can support these climate goals while addressing critical operational challenges. We hypothesize that current DR aggregator frameworks fall short in the areas of distributed load operational flexibility, scalability with the number of distributed loads (prosumers), prosumer privacy preservation, DR aggregator and prosumer competition, and uncertainty management, limiting their potential to enable large-scale prosumer participation. Using a systematic review methodology, we evaluate existing DR aggregator and prosumer frameworks through the proposed FCUPS criteria—flexibility, competition, uncertainty quantification, privacy, and scalability. The main results highlight significant gaps in current frameworks: limited support for decentralized operations; inadequate privacy protections for prosumers; and insufficient capabilities for managing competition, uncertainty, and flexibility at scale. We conclude by identifying open research directions, including the need for game-theoretic and machine learning approaches that ensure privacy, scalability, and robust market participation. Addressing these gaps is essential to shape future research agendas and to enable DR aggregators to contribute meaningfully to US climate targets. Full article

This study investigates the relationship between sovereign credit rating transitions and domestic equity market performance, focusing on Greece from 2004 to 2024. Although credit ratings are central to sovereign risk assessment, their immediate influence on financial markets remains contested. This research adopts a multi-method analytical framework combining algebraic combinatorics and time-series econometrics. The methodology incorporates the construction of a directed credit rating transition graph, the partially ordered set representation of rating hierarchies, rolling-window correlation analysis, Granger causality testing, event study evaluation, and the formulation of a reward matrix with optimal rating path optimization. Empirical results indicate that credit rating announcements in Greece exert only modest short-term effects on the Athens Stock Exchange General Index, implying that markets often anticipate these changes. In contrast, sequential downgrade trajectories elicit more pronounced and persistent market responses. The reward matrix and path optimization approach reveal structured investor behavior that is sensitive to the cumulative pattern of rating changes. These findings offer a more nuanced interpretation of how sovereign credit risk is processed and priced in transparent and fiscally disciplined environments. By bridging network-based algebraic structures and economic data science, the study contributes a novel methodology for understanding systemic financial signals within sovereign credit systems. Full article

Addressing the stock market forecasting as a classification problem, where the model predicts the direction of stock price movement, is crucial for both traders and investors, as it can help them to allocate limited resources to the most promising investment opportunities. In this study, we propose a hybrid system that uses a Long Short-Term Memory (LSTM) network and sentiment analysis for predicting the direction of the movement of the stock price. The proposed hybrid system is fed with historical stock data and regulatory news announcements for producing more reliable responses. LSTM networks are well suited to handling time series data with long-term dependencies, while the sentiment analyser provides insights into how news impacts stock price movements by classifying business news into classes. By integrating both the LSTM network and the sentiment classifier, the proposed hybrid system delivers more accurate forecasts. Our experiments demonstrate that the proposed hybrid system outperforms other competing configurations. Full article

In recent years, online retailing platforms (ORPs) have increasingly introduced private brand (PB) products as a new profit source, reshaping market dynamics and affecting their commission revenues. This shift creates a strategic trade-off for the platform: maximizing PB product profits while maintaining commission income from national brand (NB) retailers. This paper examines the platform’s pricing and quality strategies for PB products, as well as its incentives to introduce them. We develop a game-theoretic model featuring a platform and a retailer, and derive results through equilibrium analysis and comparative statics. Special attention is given to the platform’s strategy when market power is asymmetric and the PB product is homogeneous. The analysis yields three key findings. Firstly, the platform is always incentivized to introduce a PB product, regardless of its brand value. Even when direct profit is limited, the platform can leverage the PB product to increase competitive pressure on the retailer and boost commission revenue. Secondly, when the PB product has low brand value, the platform adopts a cost-saving strategy with low quality for extremely low brand value, and a function-enhancing strategy with high quality for moderately low brand value. Thirdly, when the PB product has high brand value, the platform consistently prefers a function-enhancing strategy. This study contributes to the literature by systematically characterizing the platform’s strategic trade-offs in introducing PB products, highlighting its varied pricing and quality strategies across categories, and revealing the critical role of brand value in supply chain competition. Full article

Artificial intelligence (AI) is reshaping mobile food-ordering apps, yet its impact on customer experience (CX) has not been fully mapped. Following systematic review guidelines (PRISMA 2020), a search of SCOPUS, Web of Science, ScienceDirect, and Google Scholar in March 2025 identified 55 studies published between 2022 and 2025. Since 2022, research has expanded from intention-based studies to include real-time app interactions and live app experiments. This shift has helped to identify five key CX dimensions: (1) instrumental usability: how quickly and smoothly users can order; (2) personalization value: AI-generated menus and meal suggestions; (3) affective engagement: emotional appeal of the app interface; (4) data trust and procedural fairness: users’ confidence in fair pricing and responsible data handling; (5) social co-experience: sharing orders and interacting through live reviews. Studies have shown that personalized recommendations and chatbots enhance relevance and enjoyment, while unclear surge pricing, repetitive menus, and algorithmic anxiety reduce trust and satisfaction. Given the limitations of this study, including its reliance on English-only sources, a cross-sectional design, and limited cultural representation, future research should investigate long-term usage patterns across diverse markets. This approach would help uncover nutritional biases, cultural variations, and sustained effects on customer experience. Full article

The rapid advancement of machine learning and deep learning techniques has revolutionized stock market prediction, providing innovative methods to analyze financial trends and market behavior. This review paper presents a comprehensive analysis of various machine learning and deep learning approaches utilized in stock market prediction, focusing on their methodologies, evaluation metrics, and datasets. Popular models such as LSTM, CNN, and SVM are examined, highlighting their strengths and limitations in predicting stock prices, volatility, and trends. Additionally, we address persistent challenges, including data quality and model interpretability, and explore emerging research directions to overcome these obstacles. This study aims to summarize the current state of research, provide insights into the effectiveness of predictive models. Full article

The global crude oil market, known for its pronounced volatility and nonlinear dynamics, plays a pivotal role in shaping economic stability and informing investment strategies. Contrary to traditional research focused on price forecasting, this study emphasizes the more investor-centric task of predicting returns for West Texas Intermediate (WTI) crude oil. By spotlighting returns, it directly addresses critical investor concerns such as asset allocation and risk management. This study applies advanced machine learning models, including XGBoost, random forest, and neural networks to predict crude oil return, and for the first time, incorporates sustainability and external risk variables, which are shown to enhance predictive performance in capturing the non-stationarity and complexity of financial time-series data. To enhance predictive accuracy, we integrate 55 variables across five dimensions: macroeconomic indicators, financial and futures markets, energy markets, momentum factors, and sustainability and external risk. Among these, the rate of change stands out as the most influential predictor. Notably, XGBoost demonstrates a superior performance, surpassing competing models with an impressive 76% accuracy in direction forecasting. The analysis highlights how the significance of various predictors shifted during the COVID-19 pandemic. This underscores the dynamic and adaptive character of crude oil markets under substantial external disruptions. In addition, by incorporating sustainability factors, the study provides deeper insights into the drivers of market behavior, supporting more informed portfolio adjustments, risk management strategies, and policy development aimed at fostering resilience and advancing sustainable energy transitions. Full article

Probabilistic selling is a retail strategy in which consumers purchase products without knowing their exact identities until after purchase, with various applications like gaming and retail; a real-world practice involves retailers may unsealing and reselling goods to meet consumer demand for transparency. This disrupts manufacturers’ strategies designed to adopt the uncertainty for segmentation and pricing. Using a vertically differentiated supply chain model structured as a Stackelberg game framework, this study examines how transparency from retailer unsealing affects profitability, consumer surplus, and market dynamics. Key findings include the following: (1) Unsealing increases retailer profits by aligning pricing with heterogeneous consumer willingness to pay. (2) Introducing a manufacturer’s direct channel reduces unsealing profits via price competition. (3) Unsealing creates conflicts between manufacturers’ design goals and retailers’ profit-driven incentives. By applying a Stackelberg game framework to model unsealing as a downstream transparency decision, this work advances the probabilistic selling literature by offering a structured approach to analyzing how downstream transparency and retailer strategies reshape probabilistic selling and supply chain dynamics. It highlights the need for manufacturers to balance segmentation, pricing, and channel control, offering insights into mitigating conflicts between design intentions and downstream market behaviors. Full article

Electricity price forecasting plays a fundamental role in ensuring efficient market operation and informed decision making. With the growing integration of renewable energy, prices have become more volatile and difficult to predict, increasing the necessity of accurate forecasting in bidding, scheduling, and risk management. This paper provides a comprehensive review of point forecasting models for electricity markets, covering classical statistical approaches both with and without exogenous inputs, and modern machine learning and deep learning techniques, including ensemble methods and hybrid architectures. Unlike standard reviews focused solely on the day-ahead market, we assess model performance across day-ahead, intra-day, and balancing markets, with each posing unique challenges due to differences in time resolution, data availability, and market structure. Through this market-specific lens, the paper merges insights from a broad set of studies; identifies persistent challenges, such as data quality, model interpretability, and generalisability; and outlines promising directions for future research. Our findings highlight the strong performance of hybrid and ensemble models in the day-ahead market, the dominance of recurrent neural networks in the intra-day market, and the relative effectiveness of simpler statistical models such as LEAR in the balancing market, where volatility and data sparsity remain critical challenges. Full article

This study introduces a novel forecasting framework that identifies and predicts recurrently emerging structural patterns in stock trends using rising visibility graphs (RVGs) and the Weisfeiler–Lehman (WL) subtree kernel. The proposed method, RVGWL, addresses a key limitation of traditional visibility graphs, namely the structural indistinguishability between rising and falling trends, by selectively constructing edges only along upward price movements. This approach produces graph representations that capture direction-sensitive market dynamics and facilitate the extraction of meaningful topological features from price data. By applying the WL kernel, RVGWL quantifies structural similarities between graph-transformed time series, enabling the identification of structurally similar preceding patterns and the probabilistic forecasting of their subsequent trajectories based on nine canonical trend templates. Experiments on time series data from four major stock indices and their constituent stocks during the year 2023—characterized by diverse market regimes across the U.S., Japan, the U.K., and China—demonstrate that RVGWL consistently outperforms classical rule-based strategies. These results support the predictive value of recurring topological structures in financial time series and higight the potential of structure-aware forecasting methods in quantitative analysis. Full article

Driven by the global “double carbon” goal, the volatility of renewable energy poses a challenge to the stability of power systems. Traditional methods have difficulty dealing with high-dimensional nonlinear data, and the single deep learning model has the limitations of spatiotemporal feature decoupling and being a “black box”. Aiming at the problem of insufficient accuracy and interpretability of power load forecasting in a renewable energy grid connected scenario, this study proposes an interpretable spatiotemporal feature fusion model based on an attention mechanism. Through CNN layered extraction of multi-dimensional space–time features such as meteorology and electricity price, BiLSTM bi-directional modeling time series rely on capturing the evolution rules of load series before and after, and the improved self-attention mechanism dynamically focuses on key features. Combined with the SHAP quantitative feature contribution and feature deletion experiment, a complete chain of “feature extraction time series modeling weight allocation interpretation and verification” is constructed. The experimental results show that the determination coefficient R² of the model on the Australian electricity market data set reaches 0.9935, which is 84.6% and 59.8% higher than that of the LSTM and GRU models, respectively. The prediction error (RMSE = 105.5079) is 9.7% lower than that of TCN-LSTM model and 52.1% compared to the GNN (220.6049). Cross scenario validation shows that the generalization performance is excellent (R² ≥ 0.9849). The interpretability analysis reveals that electricity price (average absolute value of SHAP 716.7761) is the core influencing factor, and its lack leads to a 0.76% decline in R². The research breaks through the limitation of time–space decoupling and the unexplainable bottleneck of traditional models, provides a transparent basis for power dispatching, and has an important reference value for the construction of new power systems. Full article

As an essential chemical raw material and a cost-effective energy product, fluctuations in propane price has garnered significant attention in the energy market. This paper processes the original time series using a coarse-grained method and employs symbolic representation combined with the sliding window technique to represent fluctuation modes as nodes within a network. The weight and direction of the edges among the nodes are determined by the number and direction of the conversions among the modes, thereby mapping the original sequence of the propane price into the propane price oriented weighted network (PPOWN) by the symbolic patterns, which is an asymmetric network that has evolved from the symmetric network based on symmetry theory. The results indicate that the core fluctuation state of the PPOWN is concentrated in the first 0.96% of the nodes, exhibiting scale-free network characteristics and dynamic asymmetry. Nodes with greater strength are more closely interconnected, but not all early-appearing nodes possess great strength. The PPOWN demonstrates a short-range correlation ($\overline{L}=8.5405$) and a highly linear growth trend in the cumulative time interval of the new nodes. Additionally, the nodes of the PPOWN display low betweenness, clustering coefficient, and strength, which significantly differ from the random and chaotic networks. The presence of these lower-strength nodes often signifies that the market is undergoing a transformation or transition period. By identifying and analyzing these nodes, subsequent propane price fluctuations can be predicted more effectively, enhancing market responsiveness. Full article