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The objective of this study is to understand how senders choose shipping services for different products, given the availability of both emerging crowd-shipping (CS) and traditional carriers in a logistics market. Using data collected from a US survey, Random Utility Maximization (RUM) and Random Regret Minimization (RRM) models have been employed to reveal factors that influence the diversity of decisions made by senders. Shipping costs, along with additional real-time services such as courier reputations, tracking info, e-notifications, and customized delivery time and location, have been found to have remarkable impacts on senders choices. Interestingly, potential senders were willing to pay more to ship grocery items such as food, beverages, and medicines by CS services. Moreover, the real-time services have low elasticities, meaning that only a slight change in those services will lead to a change in sender-behavior. Finally, data-science techniques were used to assess the performance of the RUM and RRM models and found to have similar accuracies. The findings from this research will help logistics firms address potential market segments, prepare service configurations to fulfill senders expectations, and develop effective business operations strategies.
The study examines the relationship between mobile financial services and individual financial behavior in India wherein a sizeable population is yet to be financially included. Addressing the endogeneity associated with the use of mobile financial s
The objective of this study is to understand the different behavioral considerations that govern the choice of people to engage in a crowd-shipping market. Using novel data collected by the researchers in the US, we develop discrete-continuous models
The article analyzes the populations assessment of their own health and attitude to a healthy lifestyle in the context of distribution by age groups. Of particular interest is the presence of transformations taking into account the complex epidemiolo
We develop an agent-based simulation of the catastrophe insurance and reinsurance industry and use it to study the problem of risk model homogeneity. The model simulates the balance sheets of insurance firms, who collect premiums from clients in retu
This paper studies reputation in the online market for illegal drugs in which no legal institutions exist to alleviate uncertainty. Trade takes place on platforms that offer rating systems for sellers, thereby providing an observable measure of reput