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2757 items in total found

Working Papers | 2014

A Method for Retail Product Selection using Data Mining

Srikumar Krishnamoorthy

Product assortment planning is considered as one of the important problems in the retail business. Traditional approaches to product selection in the assortment are largely based on individual product popularity or margins. More recent research works in the literature utilize the cross selling potential of products to improve profitability of the overall assortment. This paper builds on the extant literature and proposes a new product selection method for assortment planning. The proposed method makes use of association rule mining for better assortment planning. Our method is evaluated on a real-life retail dataset and the results are found to be quite promising. A detailed comparative evaluation and sensitivity analysis is also presented to demonstrate the utility of the new method.

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Working Papers | 2014

Online Retailing Paired with Kirana – A Formidable Combination for emerging Markets

Piyush Kumar Sinha, Srikant Gokhale, and Saurabh Rawal

The World Wide Web was launched in 1991 by Tim Berners Lee and shortly after that, in 1994, Pizza Hut delivered its first pizza after receiving an online order. Electronic commerce is one of the boons of internet and the one that is speculated to alter how businesses will grow in the competitive world. India stands third in the world with over 130 million internet users. This has positively shaped the growth of electronic commerce in the country, from booking tickets to buying clothes to paying bills. Four major factors have advocated the growth and expansion of electronic commerce in India. First and foremost is the rapid penetration of technology, be it the broadband or the smart phones or online banking, has empowered the consumers to access the World Wide Web very easily.
Previous research has also highlighted how this impact of internet penetration is magnified specifically in the emerging economies. Second is the fast adoption of the online medium by every major brand as a part of their sales as well as the marketing strategy. Large retailer have also opened stores in the virtual space. The third factor is the convenience consumers derive through online shopping. More and more members of a typical Indian family are joining the workforce which leaves little time regular shopping errands. Consequently people have shifted to buying items online and this is further facilitated by services like cash-on-delivery, buy-back policies and many more. Finally growing real estate prices and low penetration of large format retailing have been indicating for a need to innovate to increase business.
In the light of the convenience provided by online and the omnipresent Kirana (mom-and-pop equivalent) stores, it is proposed that these two would be the dominant formats of retailing as a mix of brick and click models.

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Working Papers | 2014

Urban – Rural Income Differential in Major States: Contribution of Structural Factors

Ravindra H. Dholakia, Manish Pandya, and Payal M. Pateriya

In this paper, we have attempted to estimate the urban-rural income differential (URID) for 15 major states based on readily available data on GSDP by sectors, population and employment by sectors and urban-rural residence. There are three components of the URID, viz., worker population ratios (WPR), employment structure and labor productivity by sectors in urban and rural areas. We are unable to estimate the labor productivity differentials at the state level, but the other two factors are considered and the floor estimate for the URID is obtained for the 15 states in the four base years. Moreover, it is also shown with the help of the estimates available at the All India level that out of the three factors, employment structure is the most dominant one to determine URID and that the component of productivity differential is not very high. Assuming the same extent of the component of productivity differential for each state as for the country, estimates of the URID in the major states for the three base years are derived. We have also attempted an estimate of the URID for the country and the states in the likely base year of 2011-12 with corresponding urban and rural per capita incomes.

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Working Papers | 2014

Cost and Benefit of Disinflation Policy in India

Ravindra H. Dholakia

Current monetary policy stance is based on assertions that there is no trade-off between inflation and growth and that disinflation will result in more growth. Present study examines recent empirical evidence on India for the direction of causality for growth and inflation, and short-run costs and long-run benefits likely for the deliberate policy of disinflation. There is no support for the first assertion because the regular trade-off does exist in India imposing substantial short-run costs for deliberate disinflation. There is a stronger evidence for causality from growth to inflation, but the reverse causality cannot be ruled out. Disinflation may result in the gain in long-run growth after 4 to 5 years. Under such conditions, RBI should hold nominal growth of money supply and allow supply side policies by the government to bring down the inflation.

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Working Papers | 2014

Multi-Period Facility Location Problem with an Uncertain Number of Servers

Amit Kumar Vatsa

We study the problem of allocating doctors to primary health centers. We model the prob-
lem as a multi-period uncapacitated facility location problem under uncertainty. The problem
is unconventional in that the uncertainty is in the number and period of availability of doctors.
We use a minmax regret approach to solve the problem. We present solution techniques using
local search and tabu search and compare our solutions with optimal solutions obtained using
commercial solvers. We see that one of our tabu search algorithms is faster and yields optimal
solutions in the problems we tested on.

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Working Papers | 2014

Sacrifice Ratio and Cost of Inflation for the Indian Economy

Ravindra H. Dholakia

Traditional concept of the Sacrifice Ratio measures the loss of potential output sustained by the society in the medium term to achieve reduction in the long-run inflation by one percentage point. This concept is critically examined and generalized to include episodes increasing the long-run inflation rate to gain higher growth of output and employment and hence reduction in the poverty proportion in the medium term. Since the concept needs measurement through a shifting short-run equilibrium of dynamic aggregate demand and supply in terms of inflation rate and output attributable to monetary policy interventions, its estimation is challenging. There are two alternative approaches to estimate the ratio, the direct one and regression based. Both have their relative merits and demerits. The regression based approach provides one unique average estimate of the Sacrifice Ratio for all episodes but allows holding other factors constant. The direct approach provides separate estimates by episodes but fails to hold other factors constant. The Sacrifice Ratio turns out to be in a narrow range of 1.8 to 2.1 for deliberate deflation and 2.8 for inflation in India. On the other hand, benefits of one percentage point reduction in trend rate of inflation are at best 0.5 percentage points increase in long-term growth of output that occurs after 4-5 years. This has implications on policy to disinflate.

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Working Papers | 2014

Midwifery education within the integrated nursing and midwifery programmes in India

Bharati Sharma, Ingegerd Hildingsson, Eva Johanson, K. V. Ramani, and Kyllike Christensson

Staff nurses (nurse-midwives) in India are expected to provide normal birth services in health facilities under the maternal health strategy of the National Rural Health Mission. Under the integrated nursing and midwifery programme in India, every nurse graduate has some midwifery education which may not be adequate for this role.

To assess confidence of students in four domains of midwifery skills of the International Confederation of Midwives,just before graduation, namely antepartum, intrapartum, postpartum and newborn care. The study further compares confidence levels of students from the diploma and bachelor programmes.

Self-reported confidence data was obtained from 633 final year students from diploma and bachelor's programmes in one district, from 25 randomly selected schools and colleges of nursing. An explorative factor analyses using principal component analysis (PCA) for the four competency domains was done.Relationship between type of program and self-assessed confidence unadjusted and adjusted logistic regression models were performed.

Sixty five per cent students did not meet the national registration requirements ofnumber of assisted and independent births. Except for managing high risk pregnancies the students were confident in other antepartum skills. More than 40% of all students expressed low confidence in most of the intrapartum skills. Students expressed low confidence for first level care for postpartum complications and some basic skills such as assessing involution, and healing of lacerations. Except for newborn complications, the students expressed confidence in most basic newborn care skills. Students in the diploma program were significantly more confident in all skill areas with 2-7 times higher odds for self-assessed high confidence.

Students graduating from the diploma and bachelor's programme do not feel confident in fulfilling their role of normal births as expected under the national strategy on maternal health. They need more hands on clinical experience especially for intra partum care, and for recognition and initiating life saving measures for complications.

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Working Papers | 2014

What Makes a Data-Story Work?
A Framework for Effective Visual Data Narratives

Amit Kapoor and Kavitha Ranganathan

Stories have been recognized for their power of communication & persuasion for centuries and we need to operate at that intersection of data, visual and stories to fully harness the power of data. Online journalism has already started to show the path but we need to develop the science of data-story to get them widely adopted in business. We used a case study based approach to map the four different layers in a data-story: See - Show - Tell - Engage. We developed a framework of key dimensions within each of these layers and then rigorously analyzed 25 carefully selected case-studies to see which elements were being employed in the data-story. We focused not only on the dimensions of data abstraction and visual representation, framing and transition but also on the dimensions of story structure, point-of-view, relatability and engagement through emotions, takeaways and interaction. Our framework indicates generic strategies that can be used for effective data-stories using exploratory and explanatory visualization in personal and presentation context.

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Working Papers | 2014

Prevention of postpartum infections using 'Appreciative Inquiry'

Bharati Sharma, K. V. Ramani, Dileep Mavalankar, Lovney Kanguru, and Julia Hussein

The objective of the present study was to explore how infection rates in study hospitals were affected by an intervention in six intervention hospitals in Gujarat, India. Infection control practices, human resource management, infrastructure, supplies and associated health system factors were investigated.
Methods

This study was conducted within a controlled, interrupted time series study where a reduction in infection rates was observed. The intervention was a process called Appreciative Inquiry (AI), an organisational change agent which focuses on positive aspects (what is done well) where hospital personnel were brought together to share experiences and agree on action plans for improving infection control. Three to six months after the intervention, 31 in-depth interviews were conducted. Monthly observation check lists were also used to investigate the perceived influence of AI and underlying health system factors.

AI was perceived as having a positive influence on team relationships; improving communication across the power hierarchy of hospitals; fostering trust and cooperation with inclusion of the marginalized and non-technical staff in the team; and developing better understanding of one's own role and those of the others. The intervention did not lead to changes in human resource policies, financial and information systems or leadership and governance. Pre-existing factors such as power and autonomy of leaders, the leader's motivation for change, leadership styles and a background of organizational reform such as accreditation influenced the AI process.

Infection control is a complex phenomenon both being influenced by and influencing health systems. Organizational factors such as distribution of power across staff hierarchy, inclusive decision making and problem solving seem to influence team performance. Social factors such as status of women, and caste and social hierarchies influence team relationships in health care settings. Appreciative inquiry as an organizational change method has the potential to change infection control behaviours of health care teams by not only targeting health systems but the underlying organizational and social factors thereby strengthening teams and staff morale.It is a means for developing a shared ideology and values for improved service delivery, thereby setting-up an organisational 'work culture'. Enabling environments such as accreditation appear to put organizations into a receptive, high alert, active mode.

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Working Papers | 2014

High Frequency Manipulation at Futures Expiry: The Case of Cash Settled Indian Single Stock Futures

Sobhesh Kumar Agarwalla, Joshy Jacob, and Jayanth R. Varma

Futures markets are known to be vulnerable to manipulation, and despite the presence of a variety of mechanisms to prevent such manipulation, instances of market manipulation have been found in some of the largest and most liquid futures markets worldwide. In 2013, the Securities and Exchange Board of India identified a case of alleged manipulation (in September 2012) of the settlement price of cash settled single stock futures based on high frequency circular trading. As is well known, it is easy for any well-endowed manipulator to manipulate the price; the real challenge for the manipulator is to make the manipulation profitable. The use of high frequency circular trading of the form alleged in the SEBI order makes many forms of manipulation profitable, and makes futures market manipulation a much bigger problem than previously thought.

As argued by Pirrong (2004), it is more practical to detect and punish manipulation than to try and prevent it. We develop an econometric technique that uses high frequency data and which can be integrated with the automated surveillance system to identify suspected cases of high frequency manipulation at futures expiry. We then use these techniques to identify a few suspected cases of manipulation. Needless to say, human judgement needs to be applied to decide which, if any, of these cases need to be taken up for investigation (and, after that, possible prosecution). This judgement is beyond the scope of our paper, and we refrain from making any judgement on whether any of the identified cases constitutes actual market manipulation.

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IIMA