Browsing by Author "Ayvaz-Cavdaroglu, Nur"

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Analyzing Multiple Pricing Decisions for Substitutes Under Stochastic Demand: an Experiment
(John Wiley & Sons Ltd, 2022) Ayvaz-Cavdaroglu, Nur; Buyukboyaci, Muruvvet
This study investigates how individuals choose prices for two substitutes under stochastic demand in an airline setting. We design two treatments: symmetrical and asymmetrical, meaning the demand distribution of the two flights having the same size of support or not. Several insights are obtained. First, the decision makers' price choices are closer to the theoretical benchmarks in the symmetrical setting. Next, the subjects do not want to overprice and fly with empty seats, exhibiting loss aversion with reference point. Finally, the subjects often treat the flights as independent rather than interrelated and price them separately, using an anchoring-and-adjusting heuristic.
Citation - WoS: 5
Citation - Scopus: 6
An Optimization-Based Analysis of Waste To Energy Options for Different Income Level Countries
(WILEY, 2021) Firtina-Ertis, İrem; Çavdaroğlu, Nur Ayvaz; Çoban, Aslı; Ayvaz-Cavdaroglu, Nur
Utilizing waste-to-energy (WtE) technologies is becoming crucial in today's world where energy sources are scarce. Despite the fact that WtE technologies (incineration, gasification, pyrolysis, anaerobic digestion, and landfill gas recovery) have been analyzed thoroughly in the literature regarding their efficiency rates in treating waste, the applicability of each method to different waste compositions and in various economic environments has not been considered before. In this study, this issue is investigated by modeling and solving a mixed integer programming model. The model is illustrated in three settings, namely Turkey, Brazil, and Germany, each of which is an example of a lower middle income, upper middle income, and a high income country, respectively. The findings of the optimization model suggest that plasma-arc gasification and advanced incineration stand out as the most efficient technologies to create the WtE conversion, provided that there are sufficient funds to build and run these facilities. If there are economic restraints, anaerobic digestion could be a more cost-effective way to create energy from waste. However, the solutions can be highly dependent on the parameters of the problem, as indicated in the results of the sensitivity analysis performed. In particular, if CO2 emissions are a big concern, the optimization model favors more of plasma-arc and pyrolysis technologies. Novelty Statement Despite a wide range of previous studies involving technical analysis of WtE technologies, an economic perspective involving facility building decisions comparing different income level countries has not been performed before. This study examines all waste-to-energy methods in the literature not only regarding their efficiency rates in treating waste but also selecting the most appropriate methodology in different settings. In this manner, considering different income level countries brings a proper perspective and novelty to the study.