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In accordance with Hottelling's Law, strategic location is a significant factor to ensure the success of a business, thus two businesses which sell the same product tend to choose a closed location. The real practice of this concept is seen in the competition of two big retailers which often open their shop nearby. However, in such competition, the location factor is merely not sufficient. It is necessary to consider other factors such as price and rebate or discount types given to their customers. This paper, particularly, aims to see the customers' preferences towards given attributes i.e. price, location, and discount types. The data is collected bymeans of a survey with non-probability sampling that is judgmental sampling. The respondents are people reside in Surabaya, Sidoarjo, and nearby whose age between 15-45 years and having various profession. The data is then processed with conjoint analysis by which is used as a basisto reconstruct a demand model considering the customer's preferences. The result shows that the attribute which is most considerable by respondents is the discount types, herein is a bundling product that comprises various products. This attribute has a preference level at 54.53%. The second prioritized attribute is the retailer location with a preference level at 24.28%. This means that a closer retailer is the most preferable by the respondent. Meanwhile, price is the last attribute considered by the respondent in choosing the retailer with a preference level at 21.28%. Thus, a respondent tends to pick a cheaper product after considering its discount type and the distance of retailer.

Orientation South Africa is a country where the vast majority of residents experience inequality, poverty and deprivation on a daily basis. For many black South Africans, their experience includes the expectation to financially support extended family. Research purpose This 'black tax' provides the government with an opportunity to redistribute wealth through taxation provisions. The study's purpose is to consider whether South African taxation legislation currently provides for black tax and if not, to provide suggested improvements. Motivation for the study Whilst South Africa already has a social grant system in place, there is a need to account for varying levels of taxpayer responsibility and to encourage less dependence on the government. Research approach/design and method Using a doctrinal research methodology, the authors collated relevant legislation and judicial precedents applied in South Africa with respect to supporting extended family and compared these to the taxation systems in the United States of America (USA), Brazil and Nigeria. Main findings The findings indicate that the current South African taxation legislation does not provide for supporting extended family, including black tax, and the US dependent exemption or rebate is a potential option for consideration in South Africa. Practical/managerial implications Taxpayers should encourage the South African government to develop a discussion document to encourage wider discourse. Contribution/value-add The study makes an important contribution to the debate on changing taxation legislation to ensure income and wealth redistribution.

A decade ago there was widespread agreement that fiscal policy should avoid countercyclical discretionary actions and instead should focus on the automatic stabilizers and on longer-term fiscal reforms that positively affect economic growth and provide appropriate government services, including infrastructure and national defense. This paper briefly summarizes the empirical evidence during the past decade on: 1. the temporary rebate programs of 2001 and 2008, 2. macroeconometric model simulations, 3. the changing cyclical response of the automatic stabilizers, and 4. the role of monetary policy in a zero interest situation. Based on this review, no empirical rationale for a revival of countercyclical discretionary fiscal policy is found.

Promotional tools such as rebates and coupons are usually seen as different ways of price discriminating among consumers. We focus on a different property of rebates: their ability to price discriminate within a consumer among her postpurchase states. Unlike price discrimination between consumers, this property is unique to rebates because, by design, they are redeemed after the purchase. (Coupons, by contrast, are redeemed with the purchase.) The consumer redeems the rebate only in postpurchase states in which her marginal utility of income is high. This selective redemption behavior provides an opportunity for the seller to \"utility arbitrage,\" directing discounts to when they matter most, resulting in an increase in the consumer’s up-front willingness to pay. In turn, this enables an increase in the regular price. Of course, rebates can still price discriminate among consumers. Indeed, their ability to deliver state-dependent discounts may enhance their overall price discrimination ability, as we show in an example comparing them to coupons.

Much of the work on path-dependent options assumes that the underlying asset price follows geometric Brownian motion with constant volatility. This paper uses a more general assumption for the asset price process that provides a better fit to the empirical observations. We use the so-called constant elasticity of variance (CEV) diffusion model where the volatility is a function of the underlying asset price. We derive analytical formulae for the prices of important types of path-dependent options under this assumption. We demonstrate that the prices of options, which depend on extrema, such as barrier and lookback options, can be much more sensitive to the specification of the underlying price process than standard call and put options and show that a financial institution that uses the standard geometric Brownian motion assumption is exposed to significant pricing and hedging errors when dealing in path-dependent options.

This article considers the joint development of the optimal pricing and ordering policies of a profit‐maximizing retailer, faced with (i) a manufacturer trade incentive in the form of a price discount for itself or a rebate directly to the end customer; (ii) a stochastic consumer demand dependent upon the magnitude of the selling price and of the trade incentive, that is contrasted with a riskless demand, which is the expected value of the stochastic demand; and (iii) a single‐period newsvendor‐type framework. Additional analysis includes the development of equal profit policies in either form of trade incentive, an assessment of the conditions under which a one‐dollar discount is more profitable than a one‐dollar rebate, and an evaluation of the impact upon the retailer‐expected profits of changes in either incentive or in the degree of demand uncertainty. A numerical example highlights the main features of the model. The analytical and numerical results clearly show that, as compared to the results for the riskless demand, dealing with uncertainty through a stochastic demand leads to (i) (lower) higher retail prices if additive (multiplicative) error, (ii) lower (higher) pass throughs if additive (multiplicative) error, (iii) higher claw backs in both error structures wherever applicable, and (iv) higher rebates to achieve equivalent profits in both error structures.