Can Retail Selling Prices of Petrol and Diesel Trigger Inflation in Malaysia?

Directory of Open Access Journals (Sweden)

Shaari Mohd Shahidan

2018-01-01

Full Text Available Previously, many studies explored the effects of oil price on inflation by using the price of crude oil as the proxy of oil price. The novelty of this current study is that it used several types of fuel prices including RON95, RON97 and Diesel. This study employed the ARDL approach and analysed the monthly data from 2010 to 2015 in Malaysia. The result shows that there are significant effects of the price of RON95, RON97 and diesel on inflation in the long run in Malaysia. However, in the short run, the price of RON97 does not affect inflation while the prices of RON95 and diesel do affect inflation in Malaysia.

Economic Order Quantity (EOQ) Optimal Control Considering Selling Price and Salesman Initiative Cost

Science.gov (United States)

Hertini, Elis; Anggriani, Nursanti; Mianna, Winda; Supriatna, Asep K.

2018-03-01

Retailers usually offer several types of similar products. A larger number of available stock products in display space will lead consumer to buy more, as well as giving a negative impression on other types of less available products. However, the amount of display space is limited so capacity of carrying the products is limited. Competition among products to increase demand rate is influenced by stock levels available in display space, price and salesmen’s initiative in promoting the products. The Economic Order Quantity (EOQ) to replenish the stock of the product is dependent on the on-hand inventory. Salesman’s initiative also affects maximum profit obtained by the seller. In this paper, Potryagin’s Maximal Principle is used to determine the state of the inventory levels response to control prices of products. Sensitivity analysis of capacity allocation display space is also presented numerically.

The Neolithic Revolution from a Price-Theoretic Perspective

DEFF Research Database (Denmark)

Guzmán, Ricardo Andrés; Weisdorf, Jacob Louis

2010-01-01

The adoption of agriculture during the Neolithic triggered the first demographic explosion in history. When fertility returned to its original level, early farmers found themselves more poorly nourished than hunter-gatherers and working longer hours to make ends meet. We develop a dynamic, price......-theoretic model that rationalizes these events: in the short-run, fertility and utility increase; in the long-run, consumption, leisure, and utility fall below their initial levels. This, we argue, can be attributed to the rise in child labor productivity that followed the adoption of agriculture. Counter...

The Efects of Corporate Social Responsibility Initiatives and Price Premiums on Polish Consumers' Responses: An Experimental Study

Directory of Open Access Journals (Sweden)

Wójcik Piotr

2014-10-01

Full Text Available This article explores whether, how and which forms of corporate social responsibility (CSR initiatives influence consumer perceptions of the value of and intention to buy responsibly manufactured yogurt, and identifies the impact of the price rise effect on consumer responses. An experimental study was conducted using scenarios with a sample of 421 university students. The results indicate that information about positive corporate behavior evokes higher perceived value and buying intention than information about negative corporate behavior; that responses differ significantly depending on whether or not the CSR initiative relates to the firm's core business; and that there is a level of consumer sensitivity to the price premium for a responsibly made yogurt. This study expands existing knowledge beyond previous areas of focus by demonstrating that a CSR initiative related to a firm's core business generates higher perceived value and buying intention than a non-related initiative, and by showing that there exists a trade-of between functional and social attributes. The findings of this study may be of interest to companies by showing the level of premium price acceptance and by demonstrating that CSR initiatives detached from basic business activity may bring negative consequences in terms of sales volume.

Experience of Initial Symptoms of Breast Cancer and Triggers for Action in Ethiopia

International Nuclear Information System (INIS)

Dye, T.D.; Hobden, C.; Reeler, A.; Dye, T.D.; Bogale, S.; Tilahun, Y.; Deressa, T.

2012-01-01

Objective. This study assessed the initial experiences, symptoms, and actions of patients in Ethiopia ultimately determined to have breast cancer. Methods. 69 participants in a comprehensive breast cancer treatment program at the main national cancer hospital in Ethiopia were interviewed using mixed qualitative and quantitative approaches. Participants narratives of their initial cancer experience were coded and analyzed for themes around their symptoms, time to seeking advice, triggers for action, and contextual factors. The assessment was approved by the Addis Ababa University Faculty of Medicine Institutional Review Board. Results. Nearly all women first noticed lumps, though few sought medical advice within the first year (average time to action: 1.5 years). Eventually, changes in their symptoms motivated most participants to seek advice. Most participants did not think the initial lump would be cancer, nor was a lump of any particular concern until symptoms changed. Conclusion. Given the frequency with which lumps are the first symptom noticed, raising awareness among participants that lumps should trigger medical consultation could contribute significantly to more rapid medical advice-seeking among women in Ethiopia. Primary care sites should be trained and equipped to offer evaluation of lumps so that women can be referred appropriately for assessment if needed

Determinants of contractor pricing strategy

OpenAIRE

Moses, O. Douglas

1988-01-01

This paper investigates pricing strategies used by major defense contractors. Two pricing strategies are identified and discussed: penetration, which calls for a relatively low initial price followed by little reduction in price over time, and skimming, which calls for a relatively high initial price coupled with greater reduction in price over time. It is argued that contractor pricing strategy will depend on features of the defense program under consideration and featur...

Marketing little cigars and cigarillos: advertising, price, and associations with neighborhood demographics.

Science.gov (United States)

Cantrell, Jennifer; Kreslake, Jennifer M; Ganz, Ollie; Pearson, Jennifer L; Vallone, Donna; Anesetti-Rothermel, Andrew; Xiao, Haijun; Kirchner, Thomas R

2013-10-01

We have documented little cigar and cigarillo (LCC) availability, advertising, and price in the point-of-sale environment and examined associations with neighborhood demographics. We used a multimodal real-time surveillance system to survey LCCs in 750 licensed tobacco retail outlets that sold tobacco products in Washington, DC. Using multivariate models, we examined the odds of LCC availability, the number of storefront exterior advertisements, and the price per cigarillo for Black & Mild packs in relation to neighborhood demographics. The odds of LCC availability and price per cigarillo decreased significantly in nearly a dose-response manner with each quartile increase in proportion of African Americans. Prices were also lower in some young adult neighborhoods. Having a higher proportion of African American and young adult residents was associated with more exterior LCC advertising. Higher availability of LCCs in African American communities and lower prices and greater outdoor advertising in minority and young adult neighborhoods may establish environmental triggers to smoke among groups susceptible to initiation, addiction, and long-term negative health consequences.

STS pricing policy

Science.gov (United States)

Lee, C. M.; Stone, B.

1982-01-01

In 1977 NASA published Shuttle Reimbursement Policies for Civil U.S. Government, DOD and Commercial and Foreign Users. These policies were based on the principle of total cost recovery over a period of time with a fixed flat price for initial period to time to enhance transition. This fixed period was to be followed with annual adjustments thereafter, NASA is establishing a new price for 1986 and beyond. In order to recover costs, that price must be higher than the initial fixed price through FY 1985. NASA intends to remain competitive. Competitive posture includes not only price, but other factors such as assured launch, reliability, and unique services. NASA's pricing policy considers all these factors.

Impacts of the introduction of CO2 price floors in a two-country electricity maket model

NARCIS (Netherlands)

Richstein, J.C.; Chappin, E.J.L.; De Vries, L.J.

2012-01-01

The recent low of CO2 prices in the European Union Emission Trading Scheme have triggered a renewed discussion, whether the introduction of a CO2 price oor would lower investor uncertainty and thus trigger more investment in low-carbon electricity generation. We compare the effects of a CO2 price

Patients' views on price shopping and price transparency.

Science.gov (United States)

Semigran, Hannah L; Gourevitch, Rebecca; Sinaiko, Anna D; Cowling, David; Mehrotra, Ateev

2017-06-01

Driven by the growth of high deductibles and price transparency initiatives, patients are being encouraged to search for prices before seeking care, yet few do so. To understand why this is the case, we interviewed individuals who were offered access to a widely used price transparency website through their employer. Qualitative interviews. We interviewed individuals enrolled in a preferred provider organization product through their health plan about their experience using the price transparency tool (if they had done so), their past medical experiences, and their opinions on shopping for care. All interviews were transcribed and manually coded using a thematic coding guide. In general, respondents expressed frustration with healthcare costs and had a positive opinion of the idea of price shopping in theory, but 2 sets of barriers limited their ability to do so in reality. The first was the salience of searching for price information. For example, respondents recognized that due to their health plan benefits design, they would not save money by switching to a lower-cost provider. Second, other factors were more important than price for respondents when choosing a provider, including quality and loyalty to current providers. We found a disconnect between respondents' enthusiasm for price shopping and their reported use of a price transparency tool to shop for care. However, many did find the tool useful for other purposes, including checking their claims history. Addressing the barriers to price shopping identified by respondents can help inform ongoing and future price transparency initiatives.

Higher US crop prices trigger little area expansion so marginal land for biofuel crops is limited

International Nuclear Information System (INIS)

Swinton, Scott M.; Babcock, Bruce A.; James, Laura K.; Bandaru, Varaprasad

2011-01-01

By expanding energy biomass production on marginal lands that are not currently used for crops, food prices increase and indirect climate change effects can be mitigated. Studies of the availability of marginal lands for dedicated bioenergy crops have focused on biophysical land traits, ignoring the human role in decisions to convert marginal land to bioenergy crops. Recent history offers insights about farmer willingness to put non-crop land into crop production. The 2006-09 leap in field crop prices and the attendant 64% gain in typical profitability led to only a 2% increase in crop planted area, mostly in the prairie states. At this rate, a doubling of expected profitability from biomass crops would expand cropland supply by only 3.2%. Yet targets for cellulosic ethanol production in the US Energy Independence and Security Act imply boosting US planted area by 10% or more with perennial biomass crops. Given landowner reluctance to expand crop area with familiar crops in the short run, large scale expansion of the area in dedicated bioenergy crops will likely be difficult and costly to achieve. - Highlights: → Biofuel crops on cropland can displace food crops, reducing food supply and triggering indirect land use. → Growing biofuel crops on non-crop marginal land avoids these problems. → But US farmers expanded cropland by only 2% when crop profitability jumped 64% during 2006-09. → So medium-term availability of marginal lands for biofuel crops is limited and costly.

LAND PRICE MAPPING OF JABODETABEK, INDONESIA

Directory of Open Access Journals (Sweden)

Adisti Madella Elmanisa

2017-03-01

Full Text Available Land provision is one of the biggest challenges for development in urban area. Most of the available urban land will be the object of speculation to be resold at a higher price when the time is right. In Jabodetabek, where the pace of urban development is faster than other parts of Indonesia, the prices of land show an abnormal increase; they seem to rise too fast. This paper discusses the increasing land prices in Jabodetabek area and argues that the increasing land price has encourages the private developer to bank the land in the area. Based on land price survey in Jabodetabek, urban activity is moving to south Jakarta. The highest land prices were found at East Kuningan, Setiabudi, and South Jakarta. By constrast, the lowest prices were observed in Sumur Batu and Cimuning (Bantar Gebang, Bekasi.It can be concluded that the land price increase also triggered land banking practice in Jabodetabek reaching in total approximately 60% of total area of Jakarta.

The ATLAS Muon Trigger Performance : Run 1 and initial Run 2.

CERN Document Server

Kasahara, Kota; The ATLAS collaboration

2015-01-01

Events with muons in the final state are an important signature for many physics topics at the Large Hadron Collider (LHC). An efficient trigger on muons and a detailed understanding of its performance are required. In 2012, the last year of Run 1, the instantaneous luminosity of the LHC reached 7.7x10^33 cm -2s-1 and the average number of events that occur in a same bunch crossing was 25. The ATLAS Muon trigger has successfully adapted to this changing environment by making use of isolation requirements, combined trigger signatures with electron and jet trigger objects, and by using so-called full-scan triggers, which make use of the full event information to search for di-lepton signatures, seeded by single lepton objects. A stable and highly efficient muon trigger was vital in the discovery of Higgs boson in 2012 and for many searches for new physics. 
The performance of muon triggers during the LHC Run 1 data-taking campaigns is presented, together with an overview and preliminary results of the new muo...

The LHCb trigger

CERN Document Server

Hernando Morata, Jose Angel

2006-01-01

The LHCb experiment relies on an efficient trigger to select a rate up to 2 kHz of events useful for physics analysis from an initial rate of 10 MHz of visible collisions. In this contribution, we describe the different LHCb trigger algorithms and present their expected performance.

Fanning the flames? : How media coverage of a price war impacts retailers, consumers and investors

NARCIS (Netherlands)

van Heerde, H.J.; Gijsbrechts, E.; Pauwels, K.

2015-01-01

This paper explores how media coverage of a price war impacts customer, retailer and investor reactions over time. Based on data covering a Dutch supermarket price war (2003–2005), the authors find that price reductions, and especially deep ones, trigger media coverage of the price conflict. This

Triggered creep as a possible mechanism for delayed dynamic triggering of tremor and earthquakes

Science.gov (United States)

Shelly, David R.; Peng, Zhigang; Hill, David P.; Aiken, Chastity

2011-01-01

The passage of radiating seismic waves generates transient stresses in the Earth's crust that can trigger slip on faults far away from the original earthquake source. The triggered fault slip is detectable in the form of earthquakes and seismic tremor. However, the significance of these triggered events remains controversial, in part because they often occur with some delay, long after the triggering stress has passed. Here we scrutinize the location and timing of tremor on the San Andreas fault between 2001 and 2010 in relation to distant earthquakes. We observe tremor on the San Andreas fault that is initiated by passing seismic waves, yet migrates along the fault at a much slower velocity than the radiating seismic waves. We suggest that the migrating tremor records triggered slow slip of the San Andreas fault as a propagating creep event. We find that the triggered tremor and fault creep can be initiated by distant earthquakes as small as magnitude 5.4 and can persist for several days after the seismic waves have passed. Our observations of prolonged tremor activity provide a clear example of the delayed dynamic triggering of seismic events. Fault creep has been shown to trigger earthquakes, and we therefore suggest that the dynamic triggering of prolonged fault creep could provide a mechanism for the delayed triggering of earthquakes. ?? 2011 Macmillan Publishers Limited. All rights reserved.

Flexible trigger menu implementation on the Global Trigger for the CMS Level-1 trigger upgrade

CERN Document Server

Matsushita, Takashi

2017-01-01

The CMS experiment at the Large Hadron Collider (LHC) has continued to explore physics at the high-energy frontier in 2016. The integrated luminosity delivered by the LHC in 2016 was 41~fb$^{-1}$ with a peak luminosity of 1.5 $\\times$ 10$^{34}$ cm$^{-2}$s$^{-1}$ and peak mean pile-up of about 50, all exceeding the initial estimations for 2016. The CMS experiment has upgraded its hardware-based Level-1 trigger system to maintain its performance for new physics searches and precision measurements at high luminosities. The Global Trigger is the final step of the CMS \\mbox{Level-1} trigger and implements a trigger menu, a set of selection requirements applied to the final list of objects from calorimeter and muon triggers, for reducing the 40 MHz collision rate to 100 kHz. The Global Trigger has been upgraded with state-of-the-art FPGA processors on Advanced Mezzanine Cards with optical links running at 10 GHz in a MicroTCA crate. The powerful processing resources of the upgraded system enable implemen...

Flexible trigger menu implementation on the Global Trigger for the CMS Level-1 trigger upgrade

Science.gov (United States)

MATSUSHITA, Takashi; CMS Collaboration

2017-10-01

The CMS experiment at the Large Hadron Collider (LHC) has continued to explore physics at the high-energy frontier in 2016. The integrated luminosity delivered by the LHC in 2016 was 41 fb-1 with a peak luminosity of 1.5 × 1034 cm-2s-1 and peak mean pile-up of about 50, all exceeding the initial estimations for 2016. The CMS experiment has upgraded its hardware-based Level-1 trigger system to maintain its performance for new physics searches and precision measurements at high luminosities. The Global Trigger is the final step of the CMS Level-1 trigger and implements a trigger menu, a set of selection requirements applied to the final list of objects from calorimeter and muon triggers, for reducing the 40 MHz collision rate to 100 kHz. The Global Trigger has been upgraded with state-of-the-art FPGA processors on Advanced Mezzanine Cards with optical links running at 10 GHz in a MicroTCA crate. The powerful processing resources of the upgraded system enable implementation of more algorithms at a time than previously possible, allowing CMS to be more flexible in how it handles the available trigger bandwidth. Algorithms for a trigger menu, including topological requirements on multi-objects, can be realised in the Global Trigger using the newly developed trigger menu specification grammar. Analysis-like trigger algorithms can be represented in an intuitive manner and the algorithms are translated to corresponding VHDL code blocks to build a firmware. The grammar can be extended in future as the needs arise. The experience of implementing trigger menus on the upgraded Global Trigger system will be presented.

China's coal price disturbances: Observations, explanations, and implications for global energy economies

International Nuclear Information System (INIS)

Yang, Chi-Jen; Xuan, Xiaowei; Jackson, Robert B.

2012-01-01

Since China decontrolled coal prices, its coal price has risen steadily and been unusually volatile. In 2011 in particular, high coal prices and capped electricity prices in China discouraged coal-fired power generation, triggering widespread power shortages. We suggest that these coal-price disturbances could be symptomatic of a major change in pricing dynamics of global fossil-fuel markets, with increasing correspondence between coal and oil prices globally. Historically, global coal prices have been more stable and lower than oil and natural gas prices on a per-heat basis. In recent years, however, coal prices have been increasingly volatile worldwide and have tracked other fossil fuel prices more closely. Meanwhile, the recent development of unconventional gas has substantially decoupled US natural gas and oil prices. Technically, low US natural gas prices, with potential fuel switching, could drive US domestic coal prices lower. However, this effect is unlikely to counteract the overall trend in increasing coal consumption globally. China's market size and unique, partially-controlled energy system make its reform agenda a key force in the global economy. Policymakers in the US, E.U. and elsewhere should monitor China's economic reform agenda to anticipate and respond to changes accompanying China's increasing importance in the global energy economy. - Highlights: ► Since China decontrolled its coal prices, the price of coal has risen steadily in China, accompanied by unusual volatility. ► Relatively high and volatile coal prices have triggered widespread power shortages in China. ► Coal and oil prices have already become, and continue to become, more closely linked globally. ► China's demand will likely drive up global coal prices and make them as volatile as that of other fossil fuels. ► Policymakers should monitor China's economic reform agenda to anticipate and respond to changes in the global energy economy.

Cancer Drugs: An International Comparison of Postlicensing Price Inflation.

Science.gov (United States)

Savage, Philip; Mahmoud, Sarah; Patel, Yogin; Kantarjian, Hagop

2017-06-01

The cost of cancer drugs forms a rising proportion of health care budgets worldwide. A number of studies have examined international comparisons of initial cost, but there is little work on postlicensing price increases. To examine this, we compared cancer drug prices at initial sale and subsequent price inflation in the United States and United Kingdom and also reviewed relevant price control mechanisms. The 10 top-selling cancer drugs were selected, and their prices at initial launch and in 2015 were compared. Standard nondiscounted prices were obtained from the relevant annual copies of the RED BOOK and the British National Formulary. At initial marketing, prices were on average 42% higher in the United States than in the United Kingdom. After licensing in the United States, all 10 drugs had price rises averaging an overall annual 8.8% (range, 1.4% to 24.1%) increase. In comparison, in the United Kingdom, six drugs had unchanged prices, two had decreased prices, and two had modest price increases. The overall annual increase in the United Kingdom was 0.24%. Cancer drug prices are rising substantially, both at their initial marketing price and, in the United States, at postlicensing prices. In the United Kingdom, the Pharmaceutical Price Regulation Scheme, an agreement between the government and the pharmaceutical industry, controls health care costs while allowing a return on investment and funds for research. The increasing costs of cancer drugs are approaching the limits of sustainability, and a similar government-industry agreement may allow stability for both health care provision and the pharmaceutical industry in the United States.

Food Prices and Climate Extremes: A Model of Global Grain Price Variability with Storage

Science.gov (United States)

Otto, C.; Schewe, J.; Frieler, K.

2015-12-01

Extreme climate events such as droughts, floods, or heat waves affect agricultural production in major cropping regions and therefore impact the world market prices of staple crops. In the last decade, crop prices exhibited two very prominent price peaks in 2007-2008 and 2010-2011, threatening food security especially for poorer countries that are net importers of grain. There is evidence that these spikes in grain prices were at least partly triggered by actual supply shortages and the expectation of bad harvests. However, the response of the market to supply shocks is nonlinear and depends on complex and interlinked processes such as warehousing, speculation, and trade policies. Quantifying the contributions of such different factors to short-term price variability remains difficult, not least because many existing models ignore the role of storage which becomes important on short timescales. This in turn impedes the assessment of future climate change impacts on food prices. Here, we present a simple model of annual world grain prices that integrates grain stocks into the supply and demand functions. This firstly allows us to model explicitly the effect of storage strategies on world market price, and thus, for the first time, to quantify the potential contribution of trade policies to price variability in a simple global framework. Driven only by reported production and by long--term demand trends of the past ca. 40 years, the model reproduces observed variations in both the global storage volume and price of wheat. We demonstrate how recent price peaks can be reproduced by accounting for documented changes in storage strategies and trade policies, contrasting and complementing previous explanations based on different mechanisms such as speculation. Secondly, we show how the integration of storage allows long-term projections of grain price variability under climate change, based on existing crop yield scenarios.

The Temptation of Zero Price: Event-Related Potentials Evidence of How Price Framing Influences the Purchase of Bundles

Directory of Open Access Journals (Sweden)

Haiying Ma

2018-04-01

Full Text Available Studies have revealed that consumers are susceptible to price framing effect, a common cognitive bias, due to their limited capacity in processing information. The effect of price framing in a bundling context and its neural correlates, however, remain not clearly characterized. The present study applied the event-related potentials (ERPs approach to investigate the role of price framing in information processing and purchase decision making in a bundling context. Three price frames were created with practically identical total prices (with a maximum difference of ¥0.1, which was about equal to 0.016 US dollars for a bundle with two components, a focal product and a tie-in product. In normal price condition (NP, both the focal and tie-in products were offered at a normal discounted price; in zero price condition (ZP, the tie-in product was offered free while the total price of the bundle remained the same as NP; whereas in low price condition (LP, the tie-in product was offered at a low token price (¥0.1, and the focal product shared the same price as the focal product of ZP. The behavioral results showed a higher purchase rate and a shorter reaction time for ZP in contrast to NP. Neurophysiologically, enlarged LPP amplitude was elicited by ZP relative to NP, suggesting that ZP triggered a stronger positive affect that could motivate decision to buy. Thus, this study provides both behavioral and neural evidence for how different price framing information is processed and ultimately gives rise to price framing effect in purchase decision making.

The Temptation of Zero Price: Event-Related Potentials Evidence of How Price Framing Influences the Purchase of Bundles.

Science.gov (United States)

Ma, Haiying; Mo, Zan; Zhang, Huijun; Wang, Cuicui; Fu, Huijian

2018-01-01

Studies have revealed that consumers are susceptible to price framing effect, a common cognitive bias, due to their limited capacity in processing information. The effect of price framing in a bundling context and its neural correlates, however, remain not clearly characterized. The present study applied the event-related potentials (ERPs) approach to investigate the role of price framing in information processing and purchase decision making in a bundling context. Three price frames were created with practically identical total prices (with a maximum difference of ¥0.1, which was about equal to 0.016 US dollars) for a bundle with two components, a focal product and a tie-in product. In normal price condition (NP), both the focal and tie-in products were offered at a normal discounted price; in zero price condition (ZP), the tie-in product was offered free while the total price of the bundle remained the same as NP; whereas in low price condition (LP), the tie-in product was offered at a low token price (¥0.1), and the focal product shared the same price as the focal product of ZP. The behavioral results showed a higher purchase rate and a shorter reaction time for ZP in contrast to NP. Neurophysiologically, enlarged LPP amplitude was elicited by ZP relative to NP, suggesting that ZP triggered a stronger positive affect that could motivate decision to buy. Thus, this study provides both behavioral and neural evidence for how different price framing information is processed and ultimately gives rise to price framing effect in purchase decision making.

The Temptation of Zero Price: Event-Related Potentials Evidence of How Price Framing Influences the Purchase of Bundles

Science.gov (United States)

Ma, Haiying; Mo, Zan; Zhang, Huijun; Wang, Cuicui; Fu, Huijian

2018-01-01

Studies have revealed that consumers are susceptible to price framing effect, a common cognitive bias, due to their limited capacity in processing information. The effect of price framing in a bundling context and its neural correlates, however, remain not clearly characterized. The present study applied the event-related potentials (ERPs) approach to investigate the role of price framing in information processing and purchase decision making in a bundling context. Three price frames were created with practically identical total prices (with a maximum difference of ¥0.1, which was about equal to 0.016 US dollars) for a bundle with two components, a focal product and a tie-in product. In normal price condition (NP), both the focal and tie-in products were offered at a normal discounted price; in zero price condition (ZP), the tie-in product was offered free while the total price of the bundle remained the same as NP; whereas in low price condition (LP), the tie-in product was offered at a low token price (¥0.1), and the focal product shared the same price as the focal product of ZP. The behavioral results showed a higher purchase rate and a shorter reaction time for ZP in contrast to NP. Neurophysiologically, enlarged LPP amplitude was elicited by ZP relative to NP, suggesting that ZP triggered a stronger positive affect that could motivate decision to buy. Thus, this study provides both behavioral and neural evidence for how different price framing information is processed and ultimately gives rise to price framing effect in purchase decision making. PMID:29731705

Exchange rates and individual good's price misalignment: Some preliminary evidence of long-horizon predictability

OpenAIRE

Dong, Wei; Nam, Deokwoo

2011-01-01

When prices are sticky, movements in the nominal exchange rate have a direct impact on international relative prices. A relative price misalignment would trigger an adjustment in consumption and employment, and may help to predict future movements in the exchange rate. Although purchasing-power-parity fundamentals, in general, have only weak predictability, currency misalignment may be indicated by price differentials for some goods, which could then have predictive power for subsequent re-ev...

How Do Companies Use the Price Strategies

Institute of Scientific and Technical Information of China (English)

赵亚男; 赵翠玲

2011-01-01

@@ 1 .Introduction With the development of the globalization, companies face many challenges.Pricing strategy is a part of their marketing efforts.Price is the only element in the marketing mix that produces revenues; all other elements re present cost.So pricing and price competition is the number-one problem facing many marketing executives.To select an initial price, companies should using pricing

The ATLAS Muon Trigger Performance in Run I and Initial Run II Performance

CERN Document Server

AUTHOR|(INSPIRE)INSPIRE-00437899; The ATLAS collaboration

2015-01-01

Events with muons in the final state are an important signature for many physics topics at the Large Hadron Collider (LHC). An efficient trigger on muons and a detailed understanding of its performance are required. In 2012, the last year of Run I, the instantaneous luminosity of the LHC reached 7.7x1033 cm-2s-1 and the average number of events that occur in a same bunch crossing was 25. The ATLAS Muon trigger has successfully adapted to this changing environment by making use of isolation requirements, combined trigger signatures with electron and jet trigger objects, and by using so-called full-scan triggers, which make use of the full event information to search for di-lepton signatures, seeded by single lepton objects. A stable and highly efficient muon trigger was vital in the discovery of Higgs boson in 2012 and for many searches for new physics. The performance of muon triggers during the LHC Run 1 data-taking campaigns is presented, together with an overview and preliminary results of the new muon str...

The ATLAS Muon Trigger Performance in Run I and Initial Run II Performance

CERN Document Server

AUTHOR|(INSPIRE)INSPIRE-00437899; The ATLAS collaboration

2016-01-01

Events with muons in the final state are an important signature for many physics topics at the Large Hadron Collider. An efficient trigger on muons and a detailed understanding of its performance are required. In 2012, the last year of Run I, the instantaneous luminosity reached $7.7\\times10^{33}$ cm$^{-2}$s$^{-1}$ and the average number of interactions that occur in the same bunch crossing was 25. The ATLAS muon trigger has successfully adapted to this challenging environment by making use of isolation requirements, combined trigger signatures with electron and jet trigger objects, and by using so-called full-scan triggers, which make use of the full event information to search for di-lepton signatures, seeded by single lepton objects. A stable and highly efficient muon trigger was vital in the discovery of the Higgs boson in 2012 and for many searches for new physics. The performance of muon triggers during the Large Hadron Collider Run I data-taking campaigns is presented, together with an overview and pre...

75 FR 49411 - Consumer Price Index Adjustments of Oil Pollution Act of 1990 Limits of Liability-Vessels and...

Science.gov (United States)

2010-08-13

... Consumer Price Index Adjustments of Oil Pollution Act of 1990 Limits of Liability--Vessels and Deepwater... ports to reflect significant increases in the Consumer Price Index. The amendment triggered information... interim rule entitled ``Consumer Price Index Adjustments of Oil Pollution Act of 1990 Limits of Liability...

Oil prices, speculation, and fundamentals. Interpreting causal relations among spot and futures prices

International Nuclear Information System (INIS)

Kaufmann, Robert K.; Ullman, Ben

2009-01-01

A consensus that the world oil market is unified begs the question, where do innovations in oil prices enter the market? Here we investigate where changes in the price of crude oil originate and how they spread by examining causal relationships among prices for crude oils from North America, Europe, Africa, and the Middle East on both spot and futures markets. Results indicate that innovations first appear in spot prices for Dubai-Fateh and spread to other spot and futures prices while other innovations first appear in the far month contract for West Texas Intermediate and spread to other exchanges and contracts. Links between spot and futures markets are relatively weak and this may have allowed the long-run relationship between spot and future prices to change after September 2004. Together, these results suggest that market fundamentals initiated a long-term increase in oil prices that was exacerbated by speculators, who recognized an increase in the probability that oil prices would rise over time. (author)

Dendrite Injury Triggers DLK-Independent Regeneration

Directory of Open Access Journals (Sweden)

Michelle C. Stone

2014-01-01

Full Text Available Axon injury triggers regeneration through activation of a conserved kinase cascade, which includes the dual leucine zipper kinase (DLK. Although dendrites are damaged during stroke, traumatic brain injury, and seizure, it is not known whether mature neurons monitor dendrite injury and initiate regeneration. We probed the response to dendrite damage using model Drosophila neurons. Two larval neuron types regrew dendrites in distinct ways after all dendrites were removed. Dendrite regeneration was also triggered by injury in adults. Next, we tested whether dendrite injury was initiated with the same machinery as axon injury. Surprisingly, DLK, JNK, and fos were dispensable for dendrite regeneration. Moreover, this MAP kinase pathway was not activated by injury to dendrites. Thus, neurons respond to dendrite damage and initiate regeneration without using the conserved DLK cascade that triggers axon regeneration.

Initial mandate concerning the problem of fluctuating gasoline prices and their effect on the Quebec economy : Final report

International Nuclear Information System (INIS)

Guillot, R.; Ford, N. ed.

2002-06-01

Over a three-year period covering May 1998 to May 2001, the average price of gasoline in Quebec slowly increased from 57.1 cent per litre to 82.6 cent per litre. This 45 per cent increase in the price of gasoline worried consumers and had an effect on commercial and industrial operations throughout the province. This situation prompted the Commission de l'economie et du travail (Commission on Labour and the Economy) to initiate a mandate to examine the problem. In October 2001, experts representing energy and taxation sectors were consulted and presentations made by 17 people and organizations. The Ministre des Ressources Naturelles (Minister of Natural Resources) and the President de la Regie de l'Energie were heard in a public consultation forum. In the first part of the document, the authors explained the mechanism by which the price of gasoline and its various components are determined, identified the elements responsible for the increases in prices, and compare the prices in the different parts of the province. In part two, the responsibilities and powers of the Ministry of Natural Resources and the Regie de l'Energie with regard to petroleum products were examined. Part three described the opinions expressed and proposed recommendations obtained during the public consultation process and they were grouped under four headings: taxation, competition, consumer information, and energy savings. The final part of the document presented the recommendations of the Commission on Labour and the Economy. 15 refs., 5 tabs

European CO2 prices and carbon capture investments

International Nuclear Information System (INIS)

Abadie, Luis M.; Chamorro, Jose M.

2008-01-01

We assess the option to install a carbon capture and storage (CCS) unit in a coal-fired power plant operating in a carbon-constrained environment. We consider two sources of risk, namely the price of emission allowance and the price of the electricity output. First we analyse the performance of the EU market for CO 2 emission allowances. Specifically, we focus on the contracts maturing in the Kyoto Protocol's first commitment period (2008 to 2012) and calibrate the underlying parameters of the allowance price process. Then we refer to the Spanish wholesale electricity market and calibrate the parameters of the electricity price process. We use a two-dimensional binomial lattice to derive the optimal investment rule. In particular, we obtain the trigger allowance prices above which it is optimal to install the capture unit immediately. We further analyse the effect of changes in several variables on these critical prices, among them allowance price volatility and a hypothetical government subsidy. We conclude that, at current permit prices, immediate installation does not seem justified from a financial point of view. This need not be the case, though, if carbon market parameters change dramatically, carbon capture technology undergoes significant improvements, and/or a specific governmental policy to promote these units is adopted. (author)

Accelerated reduction in SO₂ emissions from the U.S. power sector triggered by changing prices of natural gas.

Science.gov (United States)

Lu, Xi; McElroy, Michael B; Wu, Gang; Nielsen, Chris P

2012-07-17

Emissions of sulfur dioxide (SO(2)) from the U.S. power sector decreased by 24% in 2009 relative to 2008. The Logarithmic Mean Divisia Index (LMDI) approach was applied to isolate the factors responsible for this decrease. It is concluded that 15% of the decrease can be attributed to the drop in demand for electricity triggered by the economic recession, and 28% can be attributed to switching of fuel from coal to gas responding to the decrease in prices for the latter. The largest factor in the decrease, close to 57%, resulted from an overall decline in emissions per unit of power generated from coal. This is attributed in part to selective idling of older, less efficient coal plants that generally do not incorporate technology for sulfur removal, and in part to continued investments by the power sector in removal equipment in response to the requirements limiting emissions imposed by the U.S. Environmental Protection Agency (U.S. EPA). The paper argues further that imposition of a modest tax on emissions of carbon would have ancillary benefits in terms of emissions of SO(2).

World oil prices, precious metal prices and macroeconomy in Turkey

International Nuclear Information System (INIS)

Soytas, Ugur; Sari, Ramazan; Hammoudeh, Shawkat; Hacihasanoglu, Erk

2009-01-01

We examine the long- and short-run transmissions of information between the world oil price, Turkish interest rate, Turkish lira-US dollar exchange rate, and domestic spot gold and silver price. We find that the world oil price has no predictive power of the precious metal prices, the interest rate or the exchange rate market in Turkey. The results also show that the Turkish spot precious metals, exchange rate and bond markets do not also provide information that would help improve the forecasts of world oil prices in the long run. The findings suggest that domestic gold is also considered a safe haven in Turkey during devaluation of the Turkish lira, as it is globally. It is interesting to note that there does not seem to be any significant influence of developments in the world oil markets on Turkish markets in the short run either. However, transitory positive initial impacts of innovations in oil prices on gold and silver markets are observed. The short-run price transmissions between the world oil market and the Turkish precious metal markets have implications for policy makers in emerging markets and both local and global investors in the precious metals market and the oil market.

Cross-border electricity market effects due to price caps in an emission trading system : An agent-based approach

NARCIS (Netherlands)

Richstein, J.C.; Chappin, E.J.L.; De Vries, L.J.

2014-01-01

The recent low CO2 prices in the European Union Emission Trading Scheme (EU ETS) have triggered a discussion whether the EU ETS needs to be adjusted. We study the effects of CO2 price floors and a price ceiling on the dynamic investment pathway of two interlinked electricity markets (loosely based

The ATLAS trigger: high-level trigger commissioning and operation during early data taking

International Nuclear Information System (INIS)

Goncalo, R

2008-01-01

The ATLAS experiment is one of the two general-purpose experiments due to start operation soon at the Large Hadron Collider (LHC). The LHC will collide protons at a centre of mass energy of 14 TeV, with a bunch-crossing rate of 40 MHz. The ATLAS three-level trigger will reduce this input rate to match the foreseen offline storage capability of 100-200 Hz. This paper gives an overview of the ATLAS High Level Trigger focusing on the system design and its innovative features. We then present the ATLAS trigger strategy for the initial phase of LHC exploitation. Finally, we report on the valuable experience acquired through in-situ commissioning of the system where simulated events were used to exercise the trigger chain. In particular we show critical quantities such as event processing times, measured in a large-scale HLT farm using a complex trigger menu

Self-triggered assistive stimulus training improves step initiation in persons with Parkinson’s disease

Directory of Open Access Journals (Sweden)

Creath Robert A

2013-01-01

Full Text Available Abstract Background Prior studies demonstrated that hesitation-prone persons with Parkinson’s disease (PDs acutely improve step initiation using a novel self-triggered stimulus that enhances lateral weight shift prior to step onset. PDs showed reduced anticipatory postural adjustment (APA durations, earlier step onsets, and faster 1st step speed immediately following stimulus exposure. Objective This study investigated the effects of long-term stimulus exposure. Methods Two groups of hesitation-prone subjects with Parkinson’s disease (PD participated in a 6-week step-initiation training program involving one of two stimulus conditions: 1 Drop. The stance-side support surface was lowered quickly (1.5 cm; 2 Vibration. A short vibration (100 ms was applied beneath the stance-side support surface. Stimuli were self-triggered by a 5% reduction in vertical force under the stance foot during the APA. Testing was at baseline, immediately post-training, and 6 weeks post-training. Measurements included timing and magnitude of ground reaction forces, and step speed and length. Results Both groups improved their APA force modulation after training. Contrary to previous results, neither group showed reduced APA durations or earlier step onset times. The vibration group showed 55% increase in step speed and a 39% increase in step length which were retained 6 weeks post-training. The drop group showed no stepping-performance improvements. Conclusions The acute sensitivity to the quickness-enhancing effects of stimulus exposure demonstrated in previous studies was supplanted by improved force modulation following prolonged stimulus exposure. The results suggest a potential approach to reduce the severity of start hesitation in PDs, but further study is needed to understand the relationship between short- and long-term effects of stimulus exposure.

Triggered lightning strikes to aircraft and natural intracloud discharges

Science.gov (United States)

Mazur, Vladislav

1989-01-01

The physical model of Mazur (1989) for triggering lightning strikes by aircraft was used to interpret the initiation of intracloud flashes observed by the French UHF-VHF interferometric system. It is shown that both the intracloud discharges and airplane-triggered lightning strikes were initiated by simultaneous bidirectional development of the negative stepped leader and the positive leader-continous current process. However, the negative stepped leader phase in triggered flashes is of shorter duration (tens of milliseconds), than that in intracloud flashes (usually hundreds of milliseconds). This is considered to be due to the fact that, on the aircraft there is a single initiation process, versus the numerous initiation processes that occur inside the cloud.

Understanding gasoline pricing in Canada

International Nuclear Information System (INIS)

Anon.

2001-01-01

Pricing policies for gasoline by Canadian oil companies are discussed. An attempt is made to demonstrate that competition between oil companies is extremely keen, and markups are so small that to stay in business, retail outlets have to sell huge volumes and sell non-fuel products, as a means to increase revenues and margins. An explanation is provided for why gasoline prices move in unison, and why what appears to the public as collusion and gouging is, in fact, the result of retail dealers attempting to stay in business. The high prices are attributed mainly to taxes by municipalities, the provinces and the federal government; taxes are said to account for 40 to 50 per cent of the pump price. The cost of crude makes up another 35 to 45 per cent, refining adds 10 to 15 per cent, with the remaining 5 to 10 per cent representing retail costs. (Taxes in the United States average 20 to 30 per cent). Over the longer term, gasoline prices consistently reflect the cost of crude oil, dominated by the OPEC countries which supply about 41 per cent of daily world production. Another factor is the rise of global and regional commodity markets for refined products such as gasoline. Commodity traders buy wholesale gasoline cheaply whenever it is in oversupply, and sell it for a profit into markets where the demand is greater. While this is claimed to ensure competitive prices in all markets, the practice can also trigger abrupt changes in regional markets

Lessons from (triggered) tremor

Science.gov (United States)

Gomberg, Joan

2010-01-01

I test a “clock-advance” model that implies triggered tremor is ambient tremor that occurs at a sped-up rate as a result of loading from passing seismic waves. This proposed model predicts that triggering probability is proportional to the product of the ambient tremor rate and a function describing the efficacy of the triggering wave to initiate a tremor event. Using data mostly from Cascadia, I have compared qualitatively a suite of teleseismic waves that did and did not trigger tremor with ambient tremor rates. Many of the observations are consistent with the model if the efficacy of the triggering wave depends on wave amplitude. One triggered tremor observation clearly violates the clock-advance model. The model prediction that larger triggering waves result in larger triggered tremor signals also appears inconsistent with the measurements. I conclude that the tremor source process is a more complex system than that described by the clock-advance model predictions tested. Results of this and previous studies also demonstrate that (1) conditions suitable for tremor generation exist in many tectonic environments, but, within each, only occur at particular spots whose locations change with time; (2) any fluid flow must be restricted to less than a meter; (3) the degree to which delayed failure and secondary triggering occurs is likely insignificant; and 4) both shear and dilatational deformations may trigger tremor. Triggered and ambient tremor rates correlate more strongly with stress than stressing rate, suggesting tremor sources result from time-dependent weakening processes rather than simple Coulomb failure.

The Earnings/Price Risk Factor in Capital Asset Pricing Models

Directory of Open Access Journals (Sweden)

Rafael Falcão Noda

2015-01-01

Full Text Available This article integrates the ideas from two major lines of research on cost of equity and asset pricing: multi-factor models and ex ante accounting models. The earnings/price ratio is used as a proxy for the ex ante cost of equity, in order to explain realized returns of Brazilian companies within the period from 1995 to 2013. The initial finding was that stocks with high (low earnings/price ratios have higher (lower risk-adjusted realized returns, already controlled by the capital asset pricing model's beta. The results show that selecting stocks based on high earnings/price ratios has led to significantly higher risk-adjusted returns in the Brazilian market, with average abnormal returns close to 1.3% per month. We design asset pricing models including an earnings/price risk factor, i.e. high earnings minus low earnings, based on the Fama and French three-factor model. We conclude that such a risk factor is significant to explain returns on portfolios, even when controlled by size and market/book ratios. Models including the high earnings minus low earnings risk factor were better to explain stock returns in Brazil when compared to the capital asset pricing model and to the Fama and French three-factor model, having the lowest number of significant intercepts. These findings may be due to the impact of historically high inflation rates, which reduce the information content of book values, thus making the models based on earnings/price ratios better than those based on market/book ratios. Such results are different from those obtained in more developed markets and the superiority of the earnings/price ratio for asset pricing may also exist in other emerging markets.

Optimal Pricing Strategy for New Products

OpenAIRE

Trichy V. Krishnan; Frank M. Bass; Dipak C. Jain

1999-01-01

Robinson and Lakhani (1975) initiated a long research stream in marketing when they used the Bass model (1969) to develop optimal pricing path for a new product. A careful analysis of the extant literature reveals that the research predominantly suggests that the optimal price path should be largely based on the sales growth pattern. However, in the real world we rarely find new products that have such pricing pattern. We observe either a monotonically declining pricing pattern or an increase...

The effect of uncertainty and aggregate investments on crude oil price dynamics

International Nuclear Information System (INIS)

Tvedt, Jostein

2002-01-01

This paper is a study of the dynamics of the oil industry and we derive a mean reverting process for the crude oil price. Oil is supplied by a market leader, OPEC, and by an aggregate that represents non-OPEC producers. The non-OPEC producers take the oil price as given. The cost of non-OPEC producers depends on past investments. Shifts in these investments are influenced by costs of structural change in the construction industry. A drop in the oil price to below a given level triggers lower investments, but if the oil price reverts back to a high level investments may not immediately expand. In an uncertain oil demand environment cost of structural change creates a value of waiting to invest. This investment behaviour influences the oil price process

State cigarette minimum price laws - United States, 2009.

Science.gov (United States)

2010-04-09

Cigarette price increases reduce the demand for cigarettes and thereby reduce smoking prevalence, cigarette consumption, and youth initiation of smoking. Excise tax increases are the most effective government intervention to increase the price of cigarettes, but cigarette manufacturers use trade discounts, coupons, and other promotions to counteract the effects of these tax increases and appeal to price-sensitive smokers. State cigarette minimum price laws, initiated by states in the 1940s and 1950s to protect tobacco retailers from predatory business practices, typically require a minimum percentage markup to be added to the wholesale and/or retail price. If a statute prohibits trade discounts from the minimum price calculation, these laws have the potential to counteract discounting by cigarette manufacturers. To assess the status of cigarette minimum price laws in the United States, CDC surveyed state statutes and identified those states with minimum price laws in effect as of December 31, 2009. This report summarizes the results of that survey, which determined that 25 states had minimum price laws for cigarettes (median wholesale markup: 4.00%; median retail markup: 8.00%), and seven of those states also expressly prohibited the use of trade discounts in the minimum retail price calculation. Minimum price laws can help prevent trade discounting from eroding the positive effects of state excise tax increases and higher cigarette prices on public health.

House Prices and Public Debt

DEFF Research Database (Denmark)

Gjedsted Nielsen, Mads; Rzeznik, Aleksandra

By using the 2002 case of fraud in the Danish municipality Farum by then mayor Peter Brixtofte as an exogenous shock to public debt of 1 billion DKK, I estimate the effect of public debt on house prices. I find that the average home ownership lost about 570,000 DKK or as much as 29% of the average...... house price in the municipality. Furthermore, I document that the aggregate house price loss of 2.1 billion DKK greatly exceeds the increase in public debt of 1 billion DKK. I find that the drop in house prices is sustained 1 year, indicating that the housing market initially overreacts...

Share Price Analyst With PBV, DER, And EPS At Initial Public Offering

Directory of Open Access Journals (Sweden)

Kriswanto Kriswanto

2016-09-01

Full Text Available Underpricing and overpricing are commonly happened in stocks market. Underpricing happened when IPO pricing was lower than closing price in the first day stock been trade in the market. There were some measurements to be used, like Price to Book Value (PBV, Price Earning Ratio (PER, Earning Per Share (EPS, Debt to Equity Ratio (DER, Net Profit Margin (NPM, Size of Company (Size and Company Age (Age. The type of research was quantitative with a comparative analysis which focused on the study of literature to support research by describing theories related to the title of the study, data collection of financial statements, and annual reports of companies going public as well as Fact Book published. This article used data from 78 companies that did IPOin 2010 to 2013. This research finds that some statistic used to show majority variables that influence to underpricing is PBV, PER, DER,and Size.

Durable-Goods Monopolists, Network Effects and Penetration Pricing

OpenAIRE

Cyrus C.Y. Chu; Hung-Ken Chien

2005-01-01

We study the pricing problem of a durable-goods monopolist. With network effects, consumption externalities among heterogeneous groups of consumers generate a discontinuous demand function. Consequently, the lessor has to offer a low price in order to reach the mass market, whereas the seller has the option to build a customer base by setting a lower initial price and raise the price later in the mass market, which explains the practice of introductory pricing. Contrary to the existing litera...

Commissioning the ATLAS Level-1 Central Trigger System

CERN Document Server

Sherman, Daniel

2010-01-01

The ATLAS Level-1 central trigger is a critical part of ATLAS operation. It receives the 40 MHz bunch clock from the LHC and distributes it to all sub-detectors. It initiates their read-out by forming the Level-1 Accept decision, which is based on information from the calorimeter and muon trigger processors and a variety of additional trigger inputs from detectors in the forward region. It also provides trigger summary information to the data acquisition system and the Level-2 trigger system. In this paper, we present the completion of the installed central trigger system, its performance during cosmic-ray data taking and the experience gained with triggering on the first LHC beams.

Do Canadian electricity prices reflect costs?

International Nuclear Information System (INIS)

Jaccard, M.

1993-01-01

In an article by Cairns and Heyes (1993), it is argued that electricity pricing in Canada diverges from cost due to inter-class rate design that results in cross-subsidies, subsidized cost of capital, intra-class rate design that lacks time-of-use pricing, and failure to collect differential rent. Some problems with the key components of the initial assumption that prices diverge from cost are examined. The premise that inter-class rate design results in cross-subsidies may be correct, but is difficult to test since unregulated crown utilities are not required to make the necessary information public. Cairns and Heyes are on firmer ground in their assertion that provincial government backing of utility debts leads to lower costs of capital than would otherwise occur. Quebec and British Columbia governments have recently undertaken revenue collection initiatives justified under the rationale of addressing this situation. However, there are problems with the assumption that lack of time-of-use pricing indicates cost/price divergence, since such pricing is especially relevant in capacity-critical systems. Most hydroelectric systems are energy-critical and time-of-use differentials are not appropriate. Finally, recent evidence suggests reassessing the differential rent assumptions of the 1980s. The economic rents estimated in that period may be more accurately described as windfall rents existing in the short term while markets adjust to erratic fuel prices and cost changes in nuclear and hydro energy. There may be good economic efficiency arguments against short-term rent collection strategies involving erratic price adjustments. 1 ref

Price changes in the gasoline market: Are Midwestern gasoline prices downward sticky?

International Nuclear Information System (INIS)

1999-03-01

This report examines a recurring question about gasoline markets: why, especially in times of high price volatility, do retail gasoline prices seem to rise quickly but fall back more slowly? Do gasoline prices actually rise faster than they fall, or does this just appear to be the case because people tend to pay more attention to prices when they're rising? This question is more complex than it might appear to be initially, and it has been addressed by numerous analysts in government, academia and industry. The question is very important, because perceived problems with retail gasoline pricing have been used in arguments for government regulation of prices. The phenomenon of prices at different market levels tending to move differently relative to each other depending on direction is known as price asymmetry. This report summarizes the previous work on gasoline price asymmetry and provides a method for testing for asymmetry in a wide variety of situations. The major finding of this paper is that there is some amount of asymmetry and pattern asymmetry, especially at the retail level, in the Midwestern states that are the focus of the analysis. Nevertheless, both the amount asymmetry and pattern asymmetry are relatively small. In addition, much of the pattern asymmetry detected in this and previous studies could be a statistical artifact caused by the time lags between price changes at different points in the gasoline distribution system. In other words, retail gasoline prices do sometimes rise faster than they fall, but this is largely a lagged market response to an upward shock in the underlying wholesale gasoline or crude oil prices, followed by a return toward the previous baseline. After consistent time lags are factored out, most apparent asymmetry disappears

An assessment of innovative pricing schemes for the communication of value: is price discrimination and two-part pricing a way forward?

Science.gov (United States)

Hertzman, Peter; Miller, Paul; Tolley, Keith

2018-02-01

With the introduction of new expensive medicines, traditional pricing schemes based on constructs such as price per pill/vial have been challenged. Potential innovative schemes could be either financial-based or performance-based. Within financial-based schemes the use of price discrimination is an emerging option, which we explore in this assessment. Areas covered: In the short term the price per indication approach is likely to become more prevalent for high cost, high benefit new pharmaceuticals, such as those emerging in oncology (e.g. new combination immunotherapies). 'Two-Part Pricing' (2PP) is a frequently used payment method in other industries, which consists of an Entry Fee, giving the buyer the right to use the product, and a Usage Price charged every time the product is purchased. Introducing 2PP into biopharma could have cross-stakeholder benefits including broader patient access, and improvement in budget/revenue predictability. A concern however is the potential complexity of the negotiation between manufacturer and payer. Expert commentary: We believe 'price discrimination' and 2PP in particular can be relevant for some new, expensive specialist medicines. A recommended first step would be to initiate pilots to test to what degree the 2PP approach meets stakeholder objectives and is practical to implement within specialty care.

The price of crude oil

International Nuclear Information System (INIS)

Bakhtiari, A.M.S.

1999-01-01

The price of crude oil is among the most important prices quoted daily across the world - which is not surprising, since crude oil is the most widely used source of energy worldwide, as well as being a unique commodity. When petroleum burst onto the world stage in 1859, its price first went through some initial gyrations (1860-70), before settling in the $1.00 - 2.00 per barrel range (barring a few exceptions) for a full century. Then, the price underwent two 'shocks' (1973 and 1980), followed by the 'counter-shock' of 1986. Thereafter, the price entered the relative stability of the $15 - 20 /b consensus, where it lingered until recently. Some day, there is bound to be a fresh paradigm of 'insufficient oil reserves', thus ushering in a new era for oil prices. Taking into consideration available data on reserves and expert analysis, it would seem that that day may be years rather than decades away

PRICE AND PRICING STRATEGIES

OpenAIRE

SUCIU Titus

2013-01-01

In individual companies, price is one significant factor in achieving marketing success. In many purchase situations, price can be of great importance to customers. Marketers must establish pricing strategies that are compatible with the rest of the marketing mix. Management should decide whether to charge the same price to all similar buyers of identical quantities of a product (a one-price strategy) or to set different prices (a flexible price strategy). Many organizations, especially retai...

Electricity: French industrialists tied up by prices

International Nuclear Information System (INIS)

Jemain, A.

2004-01-01

With more than 50% of increase in 3 years, the electricity prices reach summits in France. The industrialists, initially enthusiastic over the promises of the liberalization of European energy markets, are today particularly disappointed and denounce an irrational logic. The reasons of these inflationary prices are explained in this article: alignment of electricity prices with respect to the prices of the less efficient producers (oil and gas power plants), lack of peak production means which induces prices volatility, a commodity market model unsuitable to electricity specificities, lack of transparency in the establishment of reference prices, no margins for negotiation, and will of Electricite de France (EdF) to restore its financial status. (J.S.)

The response of the Beijing carbon emissions allowance price (BJC) to macroeconomic and energy price indices

International Nuclear Information System (INIS)

Zeng, Shihong; Nan, Xin; Liu, Chao; Chen, Jiuying

2017-01-01

In 2013, China opened pilot carbon emission trading markets in seven provinces, where carbon emission allowances have now been traded for more than two years. In this paper, we employ a structural VAR model and the price of the Beijing carbon emission allowance to study the dynamic relationships among the price of the carbon emission allowance, economic development and the price of energy. This paper's data cover the period from April 2, 2014 to November 6, 2015. This paper provides information that will be helpful to both investors and governmental policy makers. The results show that (1) an increase of one standard deviation in the coal price leads to an initial increase of approximately 0.1% in the Beijing carbon price. After 2 days, there is a decrease of less than 0.1%, and the price gradually increases by approximately 0.1% after 30 days; (2) the price of the Beijing carbon emission allowance is mainly affected by its own historical price; (3) the Beijing carbon emission allowance price, crude oil price, natural gas price and economic development have positive – albeit non-significant – correlations. - Highlights: • This paper examines the response of the Beijing carbon emission allowance price. • A rise in coal prices will have different effects in different lag stages. • There are positive correlations between the BJC and economic development.

Global Phosphorus Fertilizer Market and National Policies: A Case Study Revisiting the 2008 Price Peak

Directory of Open Access Journals (Sweden)

Nikolay Khabarov

2017-06-01

Full Text Available The commodity market super-cycle and food price crisis have been associated with rampant food insecurity and the Arab spring. A multitude of factors were identified as culprits for excessive volatility on the commodity markets. However, as it regards fertilizers, a clear attribution of market drivers explaining the emergence of extreme price events is still missing. In this paper, we provide a quantitative assessment of the price spike of the global phosphorus fertilizer market in 2008 focusing on diammonium phosphate (DAP. We find that fertilizer market policies in India, the largest global importer of phosphorus fertilizers and phosphate rock, turned out to be a major contributor to the global price spike. India doubled its import of P-fertilizer in 2008 at a time when prices doubled. The analysis of a wide set of factors pertinent to the 2008 price spike in phosphorus fertilizer market leads us to the discovery of a price spike magnification and triggering mechanisms. We find that the price spike was magnified on the one hand by protective trade measures of fertilizer suppliers leading to a 19% drop in global phosphate fertilizer export. On the other hand, the Indian fertilizer subsidy scheme led to farmers not adjusting their demand for fertilizer. The triggering mechanism appeared to be the Indian production outage of P-fertilizer resulting in the additional import demand for DAP in size of about 20% of annual global supply. The main conclusion is that these three factors have jointly caused the spike, underscoring the need for ex ante improvements in fertilizer market regulation on both national and international levels.

A regime-switching copula approach to modeling day-ahead prices in coupled electricity markets

DEFF Research Database (Denmark)

Pircalabu, Anca; Benth, Fred Espen

2017-01-01

significant evidence of tail dependence in all pairs of interconnected areas we consider. As a first application of the proposed model, we consider the pricing of financial transmission rights, and highlight how the choice of marginal distributions and copula impacts prices. As a second application we......The recent price coupling of many European electricity markets has triggered a fundamental change in the interaction of day-ahead prices, challenging additionally the modeling of the joint behavior of prices in interconnected markets. In this paper we propose a regime-switching AR–GARCH copula...... to model pairs of day-ahead electricity prices in coupled European markets. While capturing key stylized facts empirically substantiated in the literature, this model easily allows us to 1) deviate from the assumption of normal margins and 2) include a more detailed description of the dependence between...

MR imaging findings of trigger thumb

Energy Technology Data Exchange (ETDEWEB)

Chang, Eric Y.; Chen, Karen C.; Chung, Christine B. [VA San Diego Healthcare System, Radiology Service, San Diego, CA (United States); University of California, San Diego Medical Center, Department of Radiology, San Diego, CA (United States)

2015-08-15

Trigger finger (or trigger thumb), also known as sclerosing tenosynovitis, is a common clinical diagnosis that rarely presents for imaging. Because of this selection bias, many radiologists may not be familiar with the process. Furthermore, patients who do present for imaging frequently have misleading examination indications. To our knowledge, magnetic resonance (MR) imaging findings of trigger thumb have not been previously reported in the literature. In this article, we review the entity of trigger thumb, the anatomy involved, and associated imaging findings, which include flexor pollicis longus tendinosis with a distinct nodule, A1 pulley thickening, and tenosynovitis. In addition, in some cases, an abnormal Av pulley is apparent. In the rare cases of trigger finger that present for MR imaging, accurate diagnosis by the radiologist can allow initiation of treatment and avoid further unnecessary workup. (orig.)

MR imaging findings of trigger thumb

International Nuclear Information System (INIS)

Chang, Eric Y.; Chen, Karen C.; Chung, Christine B.

2015-01-01

Trigger finger (or trigger thumb), also known as sclerosing tenosynovitis, is a common clinical diagnosis that rarely presents for imaging. Because of this selection bias, many radiologists may not be familiar with the process. Furthermore, patients who do present for imaging frequently have misleading examination indications. To our knowledge, magnetic resonance (MR) imaging findings of trigger thumb have not been previously reported in the literature. In this article, we review the entity of trigger thumb, the anatomy involved, and associated imaging findings, which include flexor pollicis longus tendinosis with a distinct nodule, A1 pulley thickening, and tenosynovitis. In addition, in some cases, an abnormal Av pulley is apparent. In the rare cases of trigger finger that present for MR imaging, accurate diagnosis by the radiologist can allow initiation of treatment and avoid further unnecessary workup. (orig.)

Prices and Price Setting

NARCIS (Netherlands)

R.P. Faber (Riemer)

2010-01-01

textabstractThis thesis studies price data and tries to unravel the underlying economic processes of why firms have chosen these prices. It focuses on three aspects of price setting. First, it studies whether the existence of a suggested price has a coordinating effect on the prices of firms.

Lightning initiation mechanism based on the development of relativistic runaway electron avalanches triggered by background cosmic radiation: Numerical simulation

International Nuclear Information System (INIS)

Babich, L. P.; Bochkov, E. I.; Kutsyk, I. M.

2011-01-01

The mechanism of lightning initiation due to electric field enhancement by the polarization of a conducting channel produced by relativistic runaway electron avalanches triggered by background cosmic radiation has been simulated numerically. It is shown that the fields at which the start of a lightning leader is possible even in the absence of precipitations are locally realized for realistic thundercloud configurations and charges. The computational results agree with the in-situ observations of penetrating radiation enhancement in thunderclouds.

Lightning initiation mechanism based on the development of relativistic runaway electron avalanches triggered by background cosmic radiation: Numerical simulation

Energy Technology Data Exchange (ETDEWEB)

Babich, L. P., E-mail: babich@elph.vniief.ru; Bochkov, E. I.; Kutsyk, I. M. [All-Russian Research Institute of Experimental Physics, Russian Federal Nuclear Center (Russian Federation)

2011-05-15

The mechanism of lightning initiation due to electric field enhancement by the polarization of a conducting channel produced by relativistic runaway electron avalanches triggered by background cosmic radiation has been simulated numerically. It is shown that the fields at which the start of a lightning leader is possible even in the absence of precipitations are locally realized for realistic thundercloud configurations and charges. The computational results agree with the in-situ observations of penetrating radiation enhancement in thunderclouds.

Energy prices, equalization and Canadian federalism : comparing Canada's energy price shocks

International Nuclear Information System (INIS)

Courchene, T.J.

2006-01-01

Revenues from natural resources during periods of high energy prices can create problems with the way the Canadian federal government distributes wealth through equalization. This paper traced the history of equalization in comparison with energy prices from the years 1973 to 2003. It was noted that the National Energy Program, section 92A of the Constitution, and the 5-province standard were all federal responses to initial energy price increases. It was suggested that current increases in energy prices demand a different response. The author examined a method of using the national average standard to calculate equalization payments as a means of eliminating the inequities created by the current 5-province standard, which excludes both Alberta and the Atlantic provinces. It was argued that the exclusion of Alberta's energy resources creates a false impression that other provinces such as British Columbia and Saskatchewan are rich in resources. It was suggested that fiscal imbalance between provinces is a significant challenge to the current Canadian government. New approaches to cash transfers to the provinces were discussed. A 2-tier equalization scheme was proposed that separated natural resource revenues from other revenues. It was concluded that the government's previous response to high energy prices will not be appropriate for addressing the current price shock. A 2-tier equalization scheme will mean that resource-rich provinces have an opportunity to participate more fully in federal decision-making. 53 refs., 3 figs

Initial Search for Triggered Gamma Emission from {sup 178}Hf{sup m2} Using the YSU Miniball Array

Energy Technology Data Exchange (ETDEWEB)

Carroll, J. J.; Burnett, J.; Drummond, T.; Lepak, J.; Propri, R.; Smith, D. [Youngstown State University, Department of Physics and Astronomy, Center for Photon-Induced Processes (United States); Karamian, S. A.; Adam, J. [Joint Institute for Nuclear Research (Russian Federation); Stedile, F. [Universitaet Stuttgart, Institut fuer Strahlenphysik (Germany); Agee, F. J. [Air Force Office of Scientific Research, AFOSR/NE (United States)

2002-11-15

Experiments with the long-lived, high-K isomer {sup 178}Hf{sup m2} have been recognized as intriguing tests of multi-quasiparticle state structures and their interactions with external radiation. A triggered release of the energy stored by this isomer, 2.5 MeV per nucleus or 1.2 GJ/gram, in the form of a gamma-ray burst might prove valuable for numerous applications. The observation of 'accelerated' decay of {sup 178}Hf{sup m2} during irradiation by 90-keV bremsstrahlung has already been reported, but with poor statistical accuracy due to the experimental approach. That approach employed single Ge detectors to seek increases in the areas of peaks at energies corresponding to transitions in the spontaneous decay of the isomer. The need for better quality data to confirm those results has motivated the development of improved detection concepts. One such concept was utilized here to perform an initial search for low-energy (<20 keV) triggered gamma emission from {sup 178}Hf{sup m2} using the YSU miniball detector array.

TRIGGER

CERN Multimedia

Wesley Smith

Level-1 Trigger Hardware and Software The hardware of the trigger components has been mostly finished. The ECAL Endcap Trigger Concentrator Cards (TCC) are in production while Barrel TCC firmware has been upgraded, and the Trigger Primitives can now be stored by the Data Concentrator Card for readout by the DAQ. The Regional Calorimeter Trigger (RCT) system is complete, and the timing is being finalized. All 502 HCAL trigger links to RCT run without error. The HCAL muon trigger timing has been equalized with DT, RPC, CSC and ECAL. The hardware and firmware for the Global Calorimeter Trigger (GCT) jet triggers are being commissioned and data from these triggers is available for readout. The GCT energy sums from rings of trigger towers around the beam pipe beam have been changed to include two rings from both sides. The firmware for Drift Tube Track Finder, Barrel Sorter and Wedge Sorter has been upgraded, and the synchronization of the DT trigger is satisfactory. The CSC local trigger has operated flawlessly u...

The Trigger for Early Running

CERN Document Server

The ATLAS Collaboration

2009-01-01

The ATLAS trigger and data acquisition system is based on three levels of event selection designed to capture the physics of interest with high efficiency from an initial bunch crossing rate of 40 MHz. The selections in the three trigger levels must provide sufficient rejection to reduce the rate to 200 Hz, compatible with offline computing power and storage capacity. The LHC is expected to begin its operation with a peak luminosity of 10^31 with a relatively small number of bunches, but quickly ramp up to higher luminosities by increasing the number of bunches, and thus the overall interaction rate. Decisions must be taken every 25 ns during normal LHC operations at the design luminosity of 10^34, where the average bunch crossing will contain more than 20 interactions. Hence, trigger selections must be deployed that can adapt to the changing beam conditions while preserving the interesting physics and satisfying varying detector requirements. In this paper, we provide a menu of trigger selections that can be...

7 CFR 1000.50 - Class prices, component prices, and advanced pricing factors.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing... advanced pricing factors. Class prices per hundredweight of milk containing 3.5 percent butterfat, component prices, and advanced pricing factors shall be as follows. The prices and pricing factors described...

Convergent and Divergent Signaling in PAMP-Triggered Immunity and Effector-Triggered Immunity.

Science.gov (United States)

Peng, Yujun; van Wersch, Rowan; Zhang, Yuelin

2018-04-01

Plants use diverse immune receptors to sense pathogen attacks. Recognition of pathogen-associated molecular patterns (PAMPs) by pattern recognition receptors localized on the plasma membrane leads to PAMP-triggered immunity (PTI). Detection of pathogen effectors by intracellular or plasma membrane-localized immune receptors results in effector-triggered immunity (ETI). Despite the large variations in the magnitude and duration of immune responses triggered by different PAMPs or pathogen effectors during PTI and ETI, plasma membrane-localized immune receptors activate similar downstream molecular events such as mitogen-activated protein kinase activation, oxidative burst, ion influx, and increased biosynthesis of plant defense hormones, indicating that defense signals initiated at the plasma membrane converge at later points. On the other hand, activation of ETI by immune receptors localized to the nucleus appears to be more directly associated with transcriptional regulation of defense gene expression. Here, we review recent progress in signal transductions downstream of different groups of plant immune receptors, highlighting the converging and diverging molecular events.

The ATLAS Tau Trigger

CERN Document Server

Dam, M; The ATLAS collaboration

2009-01-01

The ATLAS experiment at CERN’s LHC has implemented a dedicated tau trigger system to select hadronically decaying tau leptons from the enormous background of QCD jets. This promises a significant increase in the discovery potential to the Higgs boson and in searches for physics beyond the Standard Model. The three level trigger system has been optimised for effciency and good background rejection. The first level uses information from the calorimeters only, while the two higher levels include also information from the tracking detectors. Shower shape variables and the track multiplicity are important variables to distinguish taus from QCD jets. At the initial lumonosity of 10^31 cm^−2 s^−1, single tau triggers with a transverse energy threshold of 50 GeV or higher can be run standalone. Below this level, the tau signatures will be combined with other event signature

Reducing tobacco use and access through strengthened minimum price laws.

Science.gov (United States)

McLaughlin, Ian; Pearson, Anne; Laird-Metke, Elisa; Ribisl, Kurt

2014-10-01

Higher prices reduce consumption and initiation of tobacco products. A minimum price law that establishes a high statutory minimum price and prohibits the industry's discounting tactics for tobacco products is a promising pricing strategy as an alternative to excise tax increases. Although some states have adopted minimum price laws on the basis of statutorily defined price "markups" over the invoice price, existing state laws have been largely ineffective at increasing the retail price. We analyzed 3 new variations of minimum price laws that hold great potential for raising tobacco prices and reducing consumption: (1) a flat rate minimum price law similar to a recent enactment in New York City, (2) an enhanced markup law, and (3) a law that incorporates both elements.

ATLAS: triggers for B-physics

International Nuclear Information System (INIS)

George, Simon

2000-01-01

The LHC will produce bb-bar events at an unprecedented rate. The number of events recorded by ATLAS will be limited by the rate at which they can be stored offline and subsequently analysed. Despite the huge number of events, the small branching ratios mean that analysis of many of the most interesting channels for CP violation and other measurements will be limited by statistics. The challenge for the Trigger and Data Acquisition (DAQ) system is therefore to maximise the fraction of interesting B decays in the B-physics data stream. The ATLAS Trigger/DAQ system is split into three levels. The initial B-physics selection is made in the first-level trigger by an inclusive low-p T muon trigger (∼6 GeV). The second-level trigger strategy is based on identifying classes of final states by their partial reconstruction. The muon trigger is confirmed before proceeding to a track search. Electron/hadron separation is given by the transition radiation tracking detector and the Electromagnetic calorimeter. Muon identification is possible using the muon detectors and the hadronic calorimeter. From silicon strips, pixels and straw tracking, precise track reconstruction is used to make selections based on invariant mass, momentum and impact parameter. The ATLAS trigger group is currently engaged in algorithm development and performance optimisation for the B-physics trigger. This is closely coupled to the R and D programme for the higher-level triggers. Together the two programmes of work will optimise the hardware, architecture and algorithms to meet the challenging requirements. This paper describes the current status and progress of this work

Pricing effects on food choices.

Science.gov (United States)

French, Simone A

2003-03-01

Individual dietary choices are primarily influenced by such considerations as taste, cost, convenience and nutritional value of foods. The current obesity epidemic has been linked to excessive consumption of added sugars and fat, as well as to sedentary lifestyles. Fat and sugar provide dietary energy at very low cost. Food pricing and marketing practices are therefore an essential component of the eating environment. Recent studies have applied economic theories to changing dietary behavior. Price reduction strategies promote the choice of targeted foods by lowering their cost relative to alternative food choices. Two community-based intervention studies used price reductions to promote the increased purchase of targeted foods. The first study examined lower prices and point-of-purchase promotion on sales of lower fat vending machine snacks in 12 work sites and 12 secondary schools. Price reductions of 10%, 25% and 50% on lower fat snacks resulted in an increase in sales of 9%, 39% and 93%, respectively, compared with usual price conditions. The second study examined the impact of a 50% price reduction on fresh fruit and baby carrots in two secondary school cafeterias. Compared with usual price conditions, price reductions resulted in a four-fold increase in fresh fruit sales and a two-fold increase in baby carrot sales. Both studies demonstrate that price reductions are an effective strategy to increase the purchase of more healthful foods in community-based settings such as work sites and schools. Results were generalizable across various food types and populations. Reducing prices on healthful foods is a public health strategy that should be implemented through policy initiatives and industry collaborations.

Wealth Transfers from Implementing Real-Time Retail Electricity Pricing

OpenAIRE

Borenstein, Severin

2005-01-01

Adoption of real-time electricity pricing %u2014 retail prices that vary hourly to reflect changing wholesale prices %u2014 removes existing cross-subsidies to those customers that consume disproportionately more when wholesale prices are highest. If their losses are substantial, these customers are likely to oppose RTP initiatives unless there is a supplemental program to offset their loss. Using data on a random sample of 636 industrial and commercial customers in southern California, I sho...

Impact of cigarette minimum price laws on the retail price of cigarettes in the USA.

Science.gov (United States)

Tynan, Michael A; Ribisl, Kurt M; Loomis, Brett R

2013-05-01

Cigarette price increases prevent youth initiation, reduce cigarette consumption and increase the number of smokers who quit. Cigarette minimum price laws (MPLs), which typically require cigarette wholesalers and retailers to charge a minimum percentage mark-up for cigarette sales, have been identified as an intervention that can potentially increase cigarette prices. 24 states and the District of Columbia have cigarette MPLs. Using data extracted from SCANTRACK retail scanner data from the Nielsen company, average cigarette prices were calculated for designated market areas in states with and without MPLs in three retail channels: grocery stores, drug stores and convenience stores. Regression models were estimated using the average cigarette pack price in each designated market area and calendar quarter in 2009 as the outcome variable. The average difference in cigarette pack prices are 46 cents in the grocery channel, 29 cents in the drug channel and 13 cents in the convenience channel, with prices being lower in states with MPLs for all three channels. The findings that MPLs do not raise cigarette prices could be the result of a lack of compliance and enforcement by the state or could be attributed to the minimum state mark-up being lower than the free-market mark-up for cigarettes. Rather than require a minimum mark-up, which can be nullified by promotional incentives and discounts, states and countries could strengthen MPLs by setting a simple 'floor price' that is the true minimum price for all cigarettes or could prohibit discounts to consumers and retailers.

An experimental investigation of triggered film boiling destabilisation

International Nuclear Information System (INIS)

Naylor, P.

1985-03-01

Film boiling was established on a polished brass rod in water, collapse being initiated by either a pressure pulse or a transient bulk water flow. This work is relevant to the triggering stage of a molten fuel-coolant interaction, and a criterion is proposed for triggered film boiling collapse with pressure pulse. (U.K.)

TRIGGER

CERN Multimedia

Wesley Smith

Level-1 Trigger Hardware and Software The trigger synchronization procedures for running with cosmic muons and operating with the LHC were reviewed during the May electronics week. Firmware maintenance issues were also reviewed. Link tests between the new ECAL endcap trigger concentrator cards (TCC48) and the Regional Calorimeter Trigger have been performed. Firmware for the energy sum triggers and an upgraded tau trigger of the Global Calorimeter Triggers has been developed and is under test. The optical fiber receiver boards for the Track-Finder trigger theta links of the DT chambers are now all installed. The RPC trigger is being made more robust by additional chamber and cable shielding and also by firmware upgrades. For the CSC’s the front-end and trigger motherboard firmware have been updated. New RPC patterns and DT/CSC lookup tables taking into account phi asymmetries in the magnetic field configuration are under study. The motherboard for the new pipeline synchronizer of the Global Trigg...

The US gasoline situation and crude oil prices

International Nuclear Information System (INIS)

Anon.

2004-01-01

Before and during the United States' summer driving season, concern over the country's gasoline supply can potentially influence the direction of the petroleum market. There are three causes of concern: a persistent lack of gasoline-producing capacity; a patchwork of as many as 18 different kinds of gasoline specifications; and the introduction of stringent new specifications for reformulated gasoline. However, gasoline stocks should be able to meet the needs of this year's driving season, at a time of ample crude oil availability, with strong imports. But, unplanned outages in the US logistics system and refining centres, or major disruptions in external gasoline supplies, could trigger price spikes that would, in turn, lead to frequently stronger crude oil prices, especially with the observed robust oil demand growth in China. (Author)

The Price Elasticity of Specialty Drug Use: Evidence from Cancer Patients in Medicare Part D.

Science.gov (United States)

Jung, Jeah Kyoungrae; Feldman, Roger; McBean, A Marshall

2017-12-01

Specialty drugs can bring substantial benefits to patients with debilitating conditions, such as cancer, but their costs are very high. Insurers/payers have increased patient cost-sharing for specialty drugs to manage specialty drug spending. We utilized Medicare Part D plan formulary data to create the initial price (cost-sharing in the initial coverage phase in Part D), and estimated the total demand (both on- and off-label uses) for specialty cancer drugs among elderly Medicare Part D enrollees with no low-income subsidies (non-LIS) as a function of the initial price. We corrected for potential endogeneity associated with plan choice by instrumenting the initial price of specialty cancer drugs with the initial prices of specialty drugs in unrelated classes. We report three findings. First, we found that elderly non-LIS beneficiaries with cancer were less likely to use a Part D specialty cancer drug when the initial price was high: the overall price elasticity of specialty cancer drug spending ranged between -0.72 and -0.75. Second, the price effect in Part D specialty cancer drug use was not significant among newly diagnosed patients. Finally, we found that use of Part B-covered cancer drugs was not responsive to the Part D specialty cancer drug price. As the demand for costly specialty drugs grows, it will be important to identify clinical circumstances where specialty drugs can be valuable and ensure access to high-value treatments.

The Kumamoto Mw7.1 mainshock: deep initiation triggered by the shallow foreshocks

Science.gov (United States)

Shi, Q.; Wei, S.

2017-12-01

and the mainshock. The results support that the stress alternation after the foreshocks may have triggered the failure on the fault plane of the Mw7.1 earthquake. Therefore, the 2016 Kumamoto earthquake sequence is dominated by a series of large triggering events whose initiation is associated with the geometric barrier in the intersection of the Futagawa and Hinagu faults.

TRIGGER

CERN Multimedia

W. Smith

2012-01-01

  Level-1 Trigger The Level-1 Trigger group is ready to deploy improvements to the L1 Trigger algorithms for 2012. These include new high-PT patterns for the RPC endcap, an improved CSC PT assignment, a new PT-matching algorithm for the Global Muon Trigger, and new calibrations for ECAL, HCAL, and the Regional Calorimeter Trigger. These should improve the efficiency, rate, and stability of the L1 Trigger. The L1 Trigger group also is migrating the online systems to SLC5. To make the data transfer from the Global Calorimeter Trigger to the Global Trigger more reliable and also to allow checking the data integrity online, a new optical link system has been developed by the GCT and GT groups and successfully tested at the CMS electronics integration facility in building 904. This new system is now undergoing further tests at Point 5 before being deployed for data-taking this year. New L1 trigger menus have recently been studied and proposed by Emmanuelle Perez and the L1 Detector Performance Group...

Natural gas pricing policies in Southeast Asia

International Nuclear Information System (INIS)

Pacudan, R.B.

1998-01-01

The very dynamic economies of Southeast Asia have recently been experiencing a rapid increase in energy demand. Parallel to this development, there has been an increase in the utilization of indigenous natural gas resources. This article reviews gas-pricing policies in the region, which partly explain the rise in gas utilization. Although diverse, energy pricing policies in Southeast Asia address the common objective of enhancing domestic gas production and utilization. The article concludes that a more rational gas-pricing policy framework is emerging in the region. In global terms, gas pricing in the region tends to converge in a market-related framework, despite the many different pricing objectives of individual countries, and the predominance of non-economic pricing objectives in certain countries (especially gas-rich nations). Specifically, governments have been flexible enough to follow global trends and initiate changes in contractual agreements (pricing and profit-sharing), giving oil companies more favourable terms, and encouraging continued private investment in gas development. At the same time, promotional pricing has also been used to increase utilization of gas, through set prices and adjusted taxes achieving a lower price level compared to substitute fuels. For an efficient gas-pricing mechanism, refinements in the pricing framework should be undertaken, as demand for gas approaches existing and/or forecast production capacities. (author)

Asset pricing under rational learning about rare disasters

OpenAIRE

Koulovatianos, Christos; Wieland, Volker

2011-01-01

This paper proposes a new approach for modeling investor fear after rare disasters. The key element is to take into account that investors’ information about fundamentals driving rare downward jumps in the dividend process is not perfect. Bayesian learning implies that beliefs about the likelihood of rare disasters drop to a much more pessimistic level once a disaster has occurred. Such a shift in beliefs can trigger massive declines in price-dividend ratios. Pessimistic beliefs persist for s...

TRIGGER

CERN Multimedia

Wesley Smith

Level-1 Trigger Hardware and Software The production of the trigger hardware is now basically finished, and in time for the turn-on of the LHC. The last boards produced are the Trigger Concentrator Cards for the ECAL Endcaps (TCC-EE). After the recent installation of the four EE Dees, the TCC-EE prototypes were used for their commissioning. Production boards are arriving and are being tested continuously, with the last ones expected in November. The Regional Calorimeter Trigger hardware is fully integrated after installation of the last EE cables. Pattern tests from the HCAL up to the GCT have been performed successfully. The HCAL triggers are fully operational, including the connection of the HCAL-outer and forward-HCAL (HO/HF) technical triggers to the Global Trigger. The HCAL Trigger and Readout (HTR) board firmware has been updated to permit recording of the tower “feature bit” in the data. The Global Calorimeter Trigger hardware is installed, but some firmware developments are still n...

A study of Canadian retail gasoline prices

International Nuclear Information System (INIS)

Eckert, A.L.

1999-05-01

Retail gasoline pricing in Canadian markets was examined to demonstrate why retail prices tend to follow one of two distinct patterns and that neither pattern is observable in the wholesale price. In many cities, retail prices are more rigid than wholesale prices, while in other markets, retail prices follow a cyclic pattern not seen in wholesale prices. This study examined why constant prices are observed in some cities, while other cities have cyclic prices. Theoretical justification was given to the argument that prices will remain constant only in markets in which there are only few gasoline companies with a small number of stations, but a large per-station capacity. It was shown that when one firm operates significantly more stations than its rival, a constant cost equilibrium cannot be maintained. However, a cycle equilibrium can be constructed in this case, and also when the two companies are similarly sized. An initial examination of available price, cost and market structure data shows that there is a positive correlation between price stability and concentration. The response of retail prices to wholesale price movements in the presence of a retail price cycle was also examined through the use of a simple model based on the predictions of the above theory. Data for the city of Windsor, Ontario was used for the modelling approach. A new cycle is created by an increase in price whenever the distance between the previous retail price and the current wholesale prices is very small. Retail prices are more responsive to wholesale prices over the increasing portion of the cycle. It was shown that when the asymmetric error correction model of Borenstein, Cameron and Gilbert is estimated, it indicates a more rapid response to wholesale price increases than to decreases. 72 refs., 22 tabs., 8 figs

The effectiveness of the European agricultural quality policy: a price analysis

Energy Technology Data Exchange (ETDEWEB)

Bardaji, I.; Iraizoz, B.; Rapun, M.

2009-07-01

The European rural development policy, the second pillar of the Common Agricultural Policy, is currently playing an increasing role. One of its key instruments is the support for quality standards through Protected Geographical Indications (PGI). The analysis presented in this article investigates prices for two varieties of beef (PGI and non- PGI). The research setting is a specific area in northern Spain, where Ternera de Navarra (Navarra beef) is produced. The results show that quality production systems achieve higher and more stable prices in the long term. Another major point emerging from the analysis, given the nature of the beef production sector, is that the PGI product is better able to stand up to consumer confidence crises, such as that triggered by the bovine spongiform encephalopathy outbreak. Additional key words: prices, protected geographical indication, rural development. (Author) 40 refs.

Minimum-Cost Reachability for Priced Timed Automata

DEFF Research Database (Denmark)

Behrmann, Gerd; Fehnker, Ansgar; Hune, Thomas Seidelin

2001-01-01

This paper introduces the model of linearly priced timed automata as an extension of timed automata, with prices on both transitions and locations. For this model we consider the minimum-cost reachability problem: i.e. given a linearly priced timed automaton and a target state, determine...... the minimum cost of executions from the initial state to the target state. This problem generalizes the minimum-time reachability problem for ordinary timed automata. We prove decidability of this problem by offering an algorithmic solution, which is based on a combination of branch-and-bound techniques...

Dynamic Pricing in Electronic Commerce Using Neural Network

Science.gov (United States)

Ghose, Tapu Kumar; Tran, Thomas T.

In this paper, we propose an approach where feed-forward neural network is used for dynamically calculating a competitive price of a product in order to maximize sellers’ revenue. In the approach we considered that along with product price other attributes such as product quality, delivery time, after sales service and seller’s reputation contribute in consumers purchase decision. We showed that once the sellers, by using their limited prior knowledge, set an initial price of a product our model adjusts the price automatically with the help of neural network so that sellers’ revenue is maximized.

Minimum-Cost Reachability for Priced Timed Automata

DEFF Research Database (Denmark)

Behrmann, Gerd; Fehnker, Ansgar; Hune, Thomas Seidelin

2001-01-01

This paper introduces the model of linearly priced timed automata as an extension of timed automata, with prices on both transitions and locations. For this model we consider the minimum-cost reachability problem: i.e. given a linearly priced timed automaton and a target state, determine...... the minimum cost of executions from the initial state to the target state. This problem generalizes the minimum-time reachability problem for ordinary timed automata. We prove decidability of this problem by offering an algorithmic solution, which is based on a combination of branch-and-bound techniques...... and a new notion of priced regions. The latter allows symbolic representation and manipulation of reachable states together with the cost of reaching them....

Research on Double Price Regulations and Peak Shaving Reserve Mechanism in Coal-Electricity Supply Chain

Directory of Open Access Journals (Sweden)

Hongjun Peng

2013-01-01

Full Text Available The game models were used to study the mechanism of coal-electricity price conflict under conditions of double price regulations of coal and electricity. Based on this, the peak shaving reserve mechanism was designed to probe into the countermeasures against the coal-electricity price conflicts. The study revealed that in the boom seasons of coal demand, the initiatives of the coal enterprises to supply thermal coal and the electricity enterprises to order thermal coal are reduced under conditions of double price regulations. However, under the circumstances of coal price marketization, in the boom seasons of coal demand the thermal coal price may go up obviously, the initiatives of the coal enterprises to supply thermal coal are increased, and meanwhile the initiatives of the power enterprises to order thermal coal are decreased dramatically. The transportation capacity constraint of coal supply leads to the evident decrease of the initiatives of coal enterprises for the thermal coal supply. The mechanism of peak shaving reserve of thermal coal may not only reduce the price of coal market but also increase the enthusiasm of the power enterprises to order more thermal coal and the initiatives of the coal enterprises to supply more thermal coal.

VaR and CVaR Implied in Option Prices

Directory of Open Access Journals (Sweden)

Giovanni Barone Adesi

2016-02-01

Full Text Available VaR (Value at Risk and CVaR (Conditional Value at Risk are implied by option prices. Their relationships to option prices are derived initially under the pricing measure. It does not require assumptions about the distribution of portfolio returns. The effects of changes of measure are modest at the short horizons typically used in applications. The computation of CVaR from option price is very convenient, because this measure is not elicitable, making direct comparisons of statistical inferences from market data problematic.

The pass through of oil prices into euro area consumer liquid fuel prices in an environment of high and volatile oil prices

Energy Technology Data Exchange (ETDEWEB)

Meyler, Aidan [European Central Bank, Frankfurt am Main (Germany)

2009-11-15

Crude and refined oil prices have been relatively high and volatile on a sustained basis since 1999. This paper considers the pass through of oil prices into consumer liquid (i.e. petrol, diesel and heating) fuel prices in such an environment. The pass through of oil prices into consumer liquid fuel prices has already been addressed extensively in the literature. Nonetheless much of this literature has either focused on the United States or on a time period when oil prices were relatively stable, or has used monthly data. The main contribution of this paper is a comprehensive combination of many features that have been considered before but rarely jointly. These features include: (1) the analysis of the euro area as an aggregate and a large number of countries (the initial 12 member states); (2) the consideration of different time periods; (3) the modelling of the data in raw levels rather than in log levels. This turns out to have important implications for our findings; (4) the use of high frequency (weekly) data, which, as results will suggest, are the lowest frequency one should consider; (5) the investigation of the different stages of the production chain from crude oil prices to retail distribution - refining costs and margins, distribution and retailing costs and margins; (6) the examination of prices including and excluding taxes - excise and value-added; (7) the modelling of prices for three fuel types - passenger car petrol and diesel separately and home heating fuel oil; (8) lastly we also address the issue of possible asymmetries, allowing for the pass through to vary according to (a) whether price are increasing or decreasing and (b) whether price levels are above or below their equilibrium level. The main findings are as follows: First, as distribution and retailing costs and margins have been broadly stable on average, the modelling of the relationship between consumer prices excluding taxes and upstream prices in raw levels rather than in

The pass through of oil prices into euro area consumer liquid fuel prices in an environment of high and volatile oil prices

International Nuclear Information System (INIS)

Meyler, Aidan

2009-01-01

Crude and refined oil prices have been relatively high and volatile on a sustained basis since 1999. This paper considers the pass through of oil prices into consumer liquid (i.e. petrol, diesel and heating) fuel prices in such an environment. The pass through of oil prices into consumer liquid fuel prices has already been addressed extensively in the literature. Nonetheless much of this literature has either focused on the United States or on a time period when oil prices were relatively stable, or has used monthly data. The main contribution of this paper is a comprehensive combination of many features that have been considered before but rarely jointly. These features include: (1) the analysis of the euro area as an aggregate and a large number of countries (the initial 12 member states); (2) the consideration of different time periods; (3) the modelling of the data in raw levels rather than in log levels. This turns out to have important implications for our findings; (4) the use of high frequency (weekly) data, which, as results will suggest, are the lowest frequency one should consider; (5) the investigation of the different stages of the production chain from crude oil prices to retail distribution - refining costs and margins, distribution and retailing costs and margins; (6) the examination of prices including and excluding taxes - excise and value-added; (7) the modelling of prices for three fuel types - passenger car petrol and diesel separately and home heating fuel oil; (8) lastly we also address the issue of possible asymmetries, allowing for the pass through to vary according to (a) whether price are increasing or decreasing and (b) whether price levels are above or below their equilibrium level. The main findings are as follows: First, as distribution and retailing costs and margins have been broadly stable on average, the modelling of the relationship between consumer prices excluding taxes and upstream prices in raw levels rather than in

Electricity-market price and nuclear power plant shutdown: Evidence from California

International Nuclear Information System (INIS)

Woo, C.K.; Ho, T.; Zarnikau, J.; Olson, A.; Jones, R.; Chait, M.; Horowitz, I.; Wang, J.

2014-01-01

Japan's Fukushima nuclear disaster, triggered by the March 11, 2011 earthquake, has led to calls for shutting down existing nuclear plants. To maintain resource adequacy for a grid's reliable operation, one option is to expand conventional generation, whose marginal unit is typically fueled by natural-gas. Two timely and relevant questions thus arise for a deregulated wholesale electricity market: (1) what is the likely price increase due to a nuclear plant shutdown? and (2) what can be done to mitigate the price increase? To answer these questions, we perform a regression analysis of a large sample of hourly real-time electricity-market price data from the California Independent System Operator (CAISO) for the 33-month sample period of April 2010–December 2012. Our analysis indicates that the 2013 shutdown of the state's San Onofre plant raised the CAISO real-time hourly market prices by $6/MWH to $9/MWH, and that the price increases could have been offset by a combination of demand reduction, increasing solar generation, and increasing wind generation. - Highlights: • Japan's disaster led to calls for shutting down existing nuclear plants. • We perform a regression analysis of California's real-time electricity-market prices. • We estimate that the San Onofre plant shutdown has raised the market prices by $6/MWH to $9/MWH. • The price increases could be offset by demand reduction and renewable generation increase

Pricing and University Autonomy: Tuition Deregulation in Texas

Directory of Open Access Journals (Sweden)

Jeongeun Kim

2016-04-01

Full Text Available This paper investigates changes in tuition policies in the wake of tuition deregulation in Texas, which in 2003 transferred tuition-setting authority from the state legislature to institutions. We find that price increases accelerated, particularly at the most selective institutions. Institutions also began differentiating price by undergraduate program, raising relative prices for the most costly and lucrative majors, including engineering, business, nursing, and architecture. Price increases were particularly large for institutions with the highest initial costs and for programs with a high earnings premium within institutions, though lower for institutions with more low-income students. These distinctions suggest that public postsecondary institutions respond to microeconomic incentives when given greater autonomy to set price, and take some measures to alleviate impacts on low-income students. The Texas experience suggests that decentralized price-setting generates greater price differentiation within the public higher education system, both across and within institutions.

Reimbursement of pharmaceuticals: Reference pricing versus health technology assessment

NARCIS (Netherlands)

M. Drummond (Michael); B. Jönsson (Bengt); F.F.H. Rutten (Frans); T. Stargardt (Tom)

2011-01-01

textabstractReference pricing and health technology assessment are policies commonly applied in order to obtain more value for money from pharmaceuticals. This study focussed on decisions about the initial price and reimbursement status of innovative drugs and discussed the consequences for market

TRIGGER

CERN Multimedia

by Wesley Smith

2010-01-01

Level-1 Trigger Hardware and Software The overall status of the L1 trigger has been excellent and the running efficiency has been high during physics fills. The timing is good to about 1%. The fine-tuning of the time synchronization of muon triggers is ongoing and will be completed after more than 10 nb-1 of data have been recorded. The CSC trigger primitive and RPC trigger timing have been refined. A new configuration for the CSC Track Finder featured modified beam halo cuts and improved ghost cancellation logic. More direct control was provided for the DT opto-receivers. New RPC Cosmic Trigger (RBC/TTU) trigger algorithms were enabled for collision runs. There is further work planned during the next technical stop to investigate a few of the links from the ECAL to the Regional Calorimeter Trigger (RCT). New firmware and a new configuration to handle trigger rate spikes in the ECAL barrel are also being tested. A board newly developed by the tracker group (ReTRI) has been installed and activated to block re...

Use of learning programs for SSC trigger strategy studies

International Nuclear Information System (INIS)

Clearwater, S.H.; Cleland, W.E.; Stern, E.G.

1990-01-01

In a novel application of the learning program RL, we are studying ways to develop the trigger for experiments at the SSC. Our initial study, which is still in progress, is to understand how to select top events from background, combining both cuts at the trigger level and in the off-line analysis. Our plan is to carry out these studies for a variety of reactions and thereby build up a comprehensive view of the trigger requirements for a calorimeter-based experiment at the SSC. Our initial results have shown that the learning program can find correlations and cuts that would be quite difficult to find using traditional methods. The program is expected to obtain cuts that are at least as good, if not better, than the the cuts found by traditional methods

Energy prices, equalization and Canadian federalism : comparing Canada's energy price shocks

Energy Technology Data Exchange (ETDEWEB)

Courchene, T.J. [Queen' s Univ., Kingston, ON (Canada). School of Policy Studies; Institute for Research on Public Policy, Montreal, PQ (Canada)

2006-04-01

Revenues from natural resources during periods of high energy prices can create problems with the way the Canadian federal government distributes wealth through equalization. This paper traced the history of equalization in comparison with energy prices from the years 1973 to 2003. It was noted that the National Energy Program, section 92A of the Constitution, and the 5-province standard were all federal responses to initial energy price increases. It was suggested that current increases in energy prices demand a different response. The author examined a method of using the national average standard to calculate equalization payments as a means of eliminating the inequities created by the current 5-province standard, which excludes both Alberta and the Atlantic provinces. It was argued that the exclusion of Alberta's energy resources creates a false impression that other provinces such as British Columbia and Saskatchewan are rich in resources. It was suggested that fiscal imbalance between provinces is a significant challenge to the current Canadian government. New approaches to cash transfers to the provinces were discussed. A 2-tier equalization scheme was proposed that separated natural resource revenues from other revenues. It was concluded that the government's previous response to high energy prices will not be appropriate for addressing the current price shock. A 2-tier equalization scheme will mean that resource-rich provinces have an opportunity to participate more fully in federal decision-making. 53 refs., 3 figs.

TRIGGER

CERN Multimedia

Roberta Arcidiacono

2013-01-01

Trigger Studies Group (TSG) The Trigger Studies Group has just concluded its third 2013 workshop, where all POGs presented the improvements to the physics object reconstruction, and all PAGs have shown their plans for Trigger development aimed at the 2015 High Level Trigger (HLT) menu. The Strategy for Trigger Evolution And Monitoring (STEAM) group is responsible for Trigger menu development, path timing, Trigger performance studies coordination, HLT offline DQM as well as HLT release, menu and conditions validation – this last task in collaboration with PdmV (Physics Data and Monte Carlo Validation group). In the last months the group has delivered several HLT rate estimates and comparisons, using the available data and Monte Carlo samples. The studies were presented at the Trigger workshops in September and December, and STEAM has contacted POGs and PAGs to understand the origin of the discrepancies observed between 8 TeV data and Monte Carlo simulations. The most recent results show what the...

7 CFR 1124.50 - Class prices, component prices, and advanced pricing factors.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing factors. 1124.50 Section 1124.50 Agriculture Regulations of the Department of Agriculture (Continued... prices, and advanced pricing factors. See § 1000.50. ...

7 CFR 1030.50 - Class prices, component prices, and advanced pricing factors.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing factors. 1030.50 Section 1030.50 Agriculture Regulations of the Department of Agriculture (Continued... prices, and advanced pricing factors. See § 1000.50. ...

Gas prices and price process

International Nuclear Information System (INIS)

Groenewegen, G.G.

1992-01-01

On a conference (Gas for Europe in the 1990's) during the Gasexpo '91 the author held a speech of which the Dutch text is presented here. Attention is paid to the current European pricing methods (prices based on the costs of buying, transporting and distributing the natural gas and prices based on the market value, which is deducted from the prices of alternative fuels), and the transparency of the prices (lack of information on the way the prices are determined). Also attention is paid to the market signal transparency and gas-gas competition, which means a more or less free market of gas distribution. The risks of gas-to-gas competition for a long term price stability, investment policies and security of supply are discussed. Opposition against the Third Party Access (TPA), which is the program to implement gas-to-gas competition, is caused by the fear of natural gas companies for lower gas prices and lower profits. Finally attention is paid to government regulation and the activities of the European Commission (EC) in this matter. 1 fig., 6 ills., 1 tab

The long-run price sensitivity dynamics of industrial and residential electricity demand: The impact of deregulating electricity prices

International Nuclear Information System (INIS)

Adom, Philip Kofi

2017-01-01

This study examines the demand-side of Ghana's electricity sector. We test two important related hypotheses: (1) deregulation of electricity price does not promote energy conservation, and (2) demand-price relationship is not an inverted U-shaped. The Stock and Watson dynamic OLS is used to address the so-called second-order bias. The result showed that, deregulation of electricity price in Ghana has induced behaviours that are more consistent with energy conservation improvements. The demand-price relationship is an inverted U, which suggests that there is a price range that end-users can tolerate further price rise and still increase their consumption of electricity. However, the degree of price tolerability is higher for residential consumers than industrial consumers. The simulation results showed that, further economic growth is likely to compromise energy conservation but more in the industrial sector than the residential sector. On the other hand, future crude oil price is likely to deteriorate energy conservation in the initial years after 2016, but this trend is likely to reverse after the year 2020. Pricing mechanisms are potent to induce energy conservation but inadequate. The results suggest that they should be complemented with other stringent policies such as a mandatory energy reduction policy, investment in renewables, and personalization of energy efficiency programs. - Highlights: • Studies the demand-side of the electricity sector • Deregulating electricity price promotes energy conservation • Demand-price relationship is an inverted U-shaped • Pricing policies should be combined with other energy mandatory reduction policies

The ATLAS High-Level Calorimeter Trigger in Run-2

CERN Document Server

Wiglesworth, Craig; The ATLAS collaboration

2018-01-01

The ATLAS Experiment uses a two-level triggering system to identify and record collision events containing a wide variety of physics signatures. It reduces the event rate from the bunch-crossing rate of 40 MHz to an average recording rate of 1 kHz, whilst maintaining high efficiency for interesting collision events. It is composed of an initial hardware-based level-1 trigger followed by a software-based high-level trigger. A central component of the high-level trigger is the calorimeter trigger. This is responsible for processing data from the electromagnetic and hadronic calorimeters in order to identify electrons, photons, taus, jets and missing transverse energy. In this talk I will present the performance of the high-level calorimeter trigger in Run-2, noting the improvements that have been made in response to the challenges of operating at high luminosity.

On a Boltzmann-type price formation model

KAUST Repository

Burger, Martin; Caffarelli, Luis A.; Markowich, Peter A.; Wolfram, Marie Therese

2013-01-01

In this paper, we present a Boltzmann-type price formation model, which is motivated by a parabolic free boundary model for the evolution of price presented by Lasry and Lions in 2007. We discuss the mathematical analysis of the Boltzmann-type model and show that its solutions converge to solutions of the model by Lasry and Lions as the transaction rate tends to infinity. Furthermore, we analyse the behaviour of the initial layer on the fast time scale and illustrate the price dynamics with various numerical experiments. © 2013 The Author(s) Published by the Royal Society. All rights reserved.

On a Boltzmann-type price formation model

KAUST Repository

Burger, Martin

2013-06-26

In this paper, we present a Boltzmann-type price formation model, which is motivated by a parabolic free boundary model for the evolution of price presented by Lasry and Lions in 2007. We discuss the mathematical analysis of the Boltzmann-type model and show that its solutions converge to solutions of the model by Lasry and Lions as the transaction rate tends to infinity. Furthermore, we analyse the behaviour of the initial layer on the fast time scale and illustrate the price dynamics with various numerical experiments. © 2013 The Author(s) Published by the Royal Society. All rights reserved.

TRIGGER

CERN Multimedia

W. Smith

2010-01-01

Level-1 Trigger Hardware and Software The Level-1 Trigger hardware has performed well during both the recent proton-proton and heavy ion running. Efforts were made to improve the visibility and handling of alarms and warnings. The tracker ReTRI boards that prevent fixed frequencies of Level-1 Triggers are now configured through the Trigger Supervisor. The Global Calorimeter Trigger (GCT) team has introduced a buffer cleanup procedure at stops and a reset of the QPLL during configuring to ensure recalibration in case of a switch from the LHC clock to the local clock. A device to test the cables between the Regional Calorimeter Trigger and the GCT has been manufactured. A wrong charge bit was fixed in the CSC Trigger. The ECAL group is improving crystal masking and spike suppression in the trigger primitives. New firmware for the Drift Tube Track Finder (DTTF) sorters was developed to improve fake track tagging and sorting. Zero suppression was implemented in the DT Sector Collector readout. The track finder b...

TRIGGER

CERN Multimedia

Wesley Smith

Trigger Hardware The status of the trigger components was presented during the September CMS Week and Annual Review and at the monthly trigger meetings in October and November. Procedures for cold and warm starts (e.g. refreshing of trigger parameters stored in registers) of the trigger subsystems have been studied. Reviews of parts of the Global Calorimeter Trigger (GCT) and the Global Trigger (GT) have taken place in October and November. The CERN group summarized the status of the Trigger Timing and Control (TTC) system. All TTC crates and boards are installed in the underground counting room, USC55. The central clock system will be upgraded in December (after the Global Run at the end of November GREN) to the new RF2TTC LHC machine interface timing module. Migration of subsystem's TTC PCs to SLC4/ XDAQ 3.12 is being prepared. Work is on going to unify the access to Local Timing Control (LTC) and TTC CMS interface module (TTCci) via SOAP (Simple Object Access Protocol, a lightweight XML-based messaging ...

Specialty pharmaceuticals: policy initiatives to improve assessment, pricing, prescription, and use.

Science.gov (United States)

Robinson, James C; Howell, Scott

2014-10-01

The value of "specialty pharmaceuticals" for cancer and other complex conditions depends not merely on their molecular structures but also on the manner in which the drugs are assessed, insured, priced, prescribed, and used. This article analyzes the five principal stages through which a specialty drug must pass on its journey from the laboratory to the bedside. These include regulatory approval by the Food and Drug Administration for market access, insurance coverage, pricing and payment, physician prescription, and patient engagement. If structured appropriately, each stage improves performance and supports continued research and development. If structured inappropriately, however, each stage adds to administrative burdens, distorts clinical decision making, and weakens incentives for innovation. Cautious optimism is in order, but neither the continued development of breakthrough products nor their use according to evidence-based guidelines can be taken for granted. Project HOPE—The People-to-People Health Foundation, Inc.

The D0 run II trigger system

International Nuclear Information System (INIS)

Schwienhorst, Reinhard; Michigan State U.

2004-01-01

The D0 detector at the Fermilab Tevatron was upgraded for Run II. This upgrade included improvements to the trigger system in order to be able to handle the increased Tevatron luminosity and higher bunch crossing rates compared to Run I. The D0 Run II trigger is a highly exible system to select events to be written to tape from an initial interaction rate of about 2.5 MHz. This is done in a three-tier pipelined, buffered system. The first tier (level 1) processes fast detector pick-off signals in a hardware/firmware based system to reduce the event rate to about 1. 5kHz. The second tier (level 2) uses information from level 1 and forms simple Physics objects to reduce the rate to about 850 Hz. The third tier (level 3) uses full detector readout and event reconstruction on a filter farm to reduce the rate to 20-30 Hz. The D0 trigger menu contains a wide variety of triggers. While the emphasis is on triggering on generic lepton and jet final states, there are also trigger terms for specific final state signatures. In this document we describe the D0 trigger system as it was implemented and is currently operating in Run II

Study on current limiting characteristics of SFCL with two trigger current levels

International Nuclear Information System (INIS)

Lim, S.H.

2010-01-01

In this paper, the superconducting fault current limiter (SFCL) with two trigger current levels was suggested and its effectiveness through the analysis on the current limiting characteristics was described. The proposed SFCL, which consists of the triggering and the limiting components, can limit the fault current by generating the limiting impedance through two steps according to the amplitude of the initial fault current. In case that the fault happens, the lower initial fault current causes the only superconducting element of the triggering component to be quenched. On the other hand, the higher initial fault current makes both the superconducting elements comprising the triggering and the limiting components of the SFCL to be quenched, which contributes to the higher impedance of the SFCL. Therefore, the effective fault current limiting operation of the SFCL can be performed by generating the SFCL's impedance in proportion to the amplitude of the initial fault current. To confirm the current limiting operation of the proposed SFCL, the short-circuit tests of the SFCL according to the fault angle were carried out and its effective fault current limiting operations could be discussed.

Increasing Dominance - the Role of Advertising, Pricing and Product Design

OpenAIRE

Kretschmer, Tobias; Rösner, Mariana

2010-01-01

Despite the empirical relevance of advertising strategies in concentrated markets, the economics literature is largely silent on the effect of persuasive advertising strategies on pricing, market structure and increasing (or decreasing) dominance. In a simple model of persuasive advertising and pricing with differentiated goods, we analyze the interdependencies between ex-ante asymmetries in consumer appeal, advertising and prices. Products with larger initial appeal to consumers will ...

An EV Charging Scheduling Mechanism Based on Price Negotiation

Directory of Open Access Journals (Sweden)

Baocheng Wang

2018-05-01

Full Text Available Scheduling EV user’s charging behavior based on charging price and applying renewable energy resources are the effective methods to release the load pressure of power grids brought about by the large-scale popularity of electric vehicles (EVs. This paper presents a novel approach for EV charging scheduling based on price negotiation. Firstly, the EV charging system framework based on price negotiation and renewable energy resources is discussed. Secondly, the price negotiation model is presented, including the initial price models and the conditions of transactions. Finally, an EV charging scheduling mechanism based on price negotiation (CSM-PN, including the price adjustment strategies of both the operator and EV users is proposed to seek a final transaction during multi-round price negotiation. Simulation results show that this novel approach can effectively improve the charging station operator’s income, reduce the EV users’ costs, and balance the load of the power grid while improving the efficiency of the EV charging system.

Relating price strategies and price-setting practices

NARCIS (Netherlands)

Ingenbleek, P.T.M.; Lans, van der I.A.

2013-01-01

Purpose - This article addresses the relationship between price strategies and price-setting practices. The first derive from a normative tradition in the pricing literature and the latter from a descriptive tradition. Price strategies are visible in the market, whereas price-setting practices are

78 FR 22490 - Administrative Practice and Procedure; Postal Service; Review of Price Cap Rules

Science.gov (United States)

2013-04-16

...] Administrative Practice and Procedure; Postal Service; Review of Price Cap Rules AGENCY: Postal Regulatory Commission. ACTION: Proposed rule. SUMMARY: The Commission is initiating a review of its Price Cap Rules. The... implemented without a price cap calculation. Docket No. R2011-5, Order Approving Market Dominant Price...

7 CFR 1131.53 - Announcement of class prices, component prices, and advanced pricing factors.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1131.53 Section 1131.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

7 CFR 1005.53 - Announcement of class prices, component prices, and advanced pricing factors.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1005.53 Section 1005.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

7 CFR 1126.53 - Announcement of class prices, component prices, and advanced pricing factors.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1126.53 Section 1126.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

7 CFR 1032.53 - Announcement of class prices, component prices, and advanced pricing factors.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1032.53 Section 1032.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

7 CFR 1030.53 - Announcement of class prices, component prices, and advanced pricing factors.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1030.53 Section 1030.53 Agriculture Regulations of the Department of Agriculture... of class prices, component prices, and advanced pricing factors. See § 1000.53. ...

7 CFR 1033.53 - Announcement of class prices, component prices, and advanced pricing factors.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1033.53 Section 1033.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

7 CFR 1001.53 - Announcement of class prices, component prices, and advanced pricing factors.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1001.53 Section 1001.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

7 CFR 1007.53 - Announcement of class prices, component prices, and advanced pricing factors.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1007.53 Section 1007.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

7 CFR 1006.53 - Announcement of class prices, component prices, and advanced pricing factors.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1006.53 Section 1006.53 Agriculture Regulations of the Department of Agriculture... class prices, component prices, and advanced pricing factors. See § 1000.53. ...

7 CFR 1033.50 - Class prices, component prices, and advanced pricing factors.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing factors. 1033.50 Section 1033.50 Agriculture Regulations of the Department of Agriculture (Continued..., and advanced pricing factors. See § 1000.50. ...

7 CFR 1005.50 - Class prices, component prices, and advanced pricing factors.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing factors. 1005.50 Section 1005.50 Agriculture Regulations of the Department of Agriculture (Continued..., and advanced pricing factors. See § 1000.50. ...

7 CFR 1001.50 - Class prices, component prices, and advanced pricing factors.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing factors. 1001.50 Section 1001.50 Agriculture Regulations of the Department of Agriculture (Continued..., and advanced pricing factors. See § 1000.50. ...

7 CFR 1006.50 - Class prices, component prices, and advanced pricing factors.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing factors. 1006.50 Section 1006.50 Agriculture Regulations of the Department of Agriculture (Continued..., and advanced pricing factors. See § 1000.50. ...

7 CFR 1126.50 - Class prices, component prices, and advanced pricing factors.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing factors. 1126.50 Section 1126.50 Agriculture Regulations of the Department of Agriculture (Continued..., and advanced pricing factors. See § 1000.50. ...

7 CFR 1032.50 - Class prices, component prices, and advanced pricing factors.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing factors. 1032.50 Section 1032.50 Agriculture Regulations of the Department of Agriculture (Continued..., and advanced pricing factors. See § 1000.50. ...

7 CFR 1131.50 - Class prices, component prices, and advanced pricing factors.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing factors. 1131.50 Section 1131.50 Agriculture Regulations of the Department of Agriculture (Continued..., and advanced pricing factors. See § 1000.50. ...

7 CFR 1007.50 - Class prices, component prices, and advanced pricing factors.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing factors. 1007.50 Section 1007.50 Agriculture Regulations of the Department of Agriculture (Continued..., and advanced pricing factors. See § 1000.50. ...

Performance of the ATLAS first-level Trigger with first LHC Data

CERN Document Server

Lundberg, J; The ATLAS collaboration

2010-01-01

ATLAS is one of the two general-purpose detectors at the Large Hadron Collider (LHC). Its trigger system must reduce the anticipated proton collision rate of up to 40 MHz to a recordable event rate of 100-200 Hz. This is realized through a multi-level trigger system. The first-level trigger is implemented with custom-built electronics and makes an initial selection which reduces the rate to less than 100 kHz. The subsequent trigger selection is done in software run on PC farms. The first-level trigger decision is made by the central-trigger processor using information from coarse grained calorimeter information, dedicated muon-trigger detectors, and a variety of additional trigger inputs from detectors in the forward regions. We present the performance of the first-level trigger during the commissioning of the ATLAS detector during early LHC running. We cover the trigger strategies used during the different machine commissioning phases from first circulating beams and splash events to collisions. It is descri...

7 CFR 1124.53 - Announcement of class prices, component prices, and advanced pricing factors.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1124.53 Section 1124.53 Agriculture Regulations of the Department of Agriculture... Announcement of class prices, component prices, and advanced pricing factors. See § 1000.53. ...

TRIGGER

CERN Multimedia

Wesley Smith

Level-1 Trigger Hardware and Software The final parts of the Level-1 trigger hardware are now being put in place. For the ECAL endcaps, more than half of the Trigger Concentrator Cards for the ECAL Endcap (TCC-EE) are now available at CERN, such that one complete endcap can be covered. The Global Trigger now correctly handles ECAL calibration sequences, without being influenced by backpressure. The Regional Calorimeter Trigger (RCT) hardware is complete and working in USC55. Intra-crate tests of all 18 RCT crates and the Global Calorimeter Trigger (GCT) are regularly taking place. Pattern tests have successfully captured data from HCAL through RCT to the GCT Source Cards. HB/HE trigger data are being compared with emulator results to track down the very few remaining hardware problems. The treatment of hot and dead cells, including their recording in the database, has been defined. For the GCT, excellent agreement between the emulator and data has been achieved for jets and HF ET sums. There is still som...

TRIGGER

CERN Multimedia

W. Smith

Level-1 Trigger Hardware and Software The trigger system has been constantly in use in cosmic and commissioning data taking periods. During CRAFT running it delivered 300 million muon and calorimeter triggers to CMS. It has performed stably and reliably. During the abort gaps it has also provided laser and other calibration triggers. Timing issues, namely synchronization and latency issues, have been solved. About half of the Trigger Concentrator Cards for the ECAL Endcap (TCC-EE) are installed, and the firmware is being worked on. The production of the other half has started. The HCAL Trigger and Readout (HTR) card firmware has been updated, and new features such as fast parallel zero-suppression have been included. Repairs of drift tube (DT) trigger mini-crates, optical links and receivers of sector collectors are under way and have been completed on YB0. New firmware for the optical receivers of the theta links to the drift tube track finder is being installed. In parallel, tests with new eta track finde...

TRIGGER

CERN Multimedia

R. Carlin with contributions from D. Acosta

2012-01-01

Level-1 Trigger Data-taking continues at cruising speed, with high availability of all components of the Level-1 trigger. We have operated the trigger up to a luminosity of 7.6E33, where we approached 100 kHz using the 7E33 prescale column.  Recently, the pause without triggers in case of an automatic "RESYNC" signal (the "settle" and "recover" time) was reduced in order to minimise the overall dead-time. This may become very important when the LHC comes back with higher energy and luminosity after LS1. We are also preparing for data-taking in the proton-lead run in early 2013. The CASTOR detector will make its comeback into CMS and triggering capabilities are being prepared for this. Steps to be taken include improved cooperation with the TOTEM trigger system and using the LHC clock during the injection and ramp phases of LHC. Studies are being finalised that will have a bearing on the Trigger Technical Design Report (TDR), which is to be rea...

In search of the elusive long-term price

International Nuclear Information System (INIS)

Connor, M.J.; Combs, J.

1989-01-01

The Uranium Institute, WNFM, and past USCEA sessions described and compared existing price reporting systems. The McGraw-Hill conference led to a rather heated discussion as to the propriety of spot prices having the influence they do on amounts paid in long-term contracts. The Ux representative proposed a future's market as a way that producers could hedge against some of the uncertainty of volatile spot market. In discussing the search for the elusive long-term price, there are two interrelated issues. The first is obvious-the search for a starting or initializing price that is representative of recently-signed or pending long-term contracts. The second is less obvious, but perhaps more important-the search for a successful mechanism for determining later delivery values in long-term contracts. This paper addresses the question of pricing mechanisms first

Edgeworth Price Cycles, Cost-Based Pricing, and Sticky Pricing in Retail Gasoline Markets

OpenAIRE

Michael D. Noel

2007-01-01

This paper examines dynamic pricing behavior in retail gasoline markets for 19 Canadian cities over 574 weeks. I find three distinct retail pricing patterns: 1. cost-based pricing, 2. sticky pricing, and 3. steep, asymmetric retail price cycles that, while seldom documented empirically, resemble those of Maskin & Tirole[1988]. Using a Markov switching regression, I estimate the prevalence of patterns and the structural characteristics of the cycles. Retail price cycles prevail in over 40% of ...

The influence of the PFI on waste management pricing

International Nuclear Information System (INIS)

2000-01-01

This report analyses the pricing mechanisms generated within the waste management sector under the Private Finance Initiative (PFI) and compares them with the cost-plus pricing mechanisms. The background to the research is traced, and the influence of the PFI on service procurement, the incentives to use PFI, the procurement process, and the allocation of contractual risk are discussed. The PFI pricing mechanisms are described, and a case study of a hypothetical local authority involved in the tender for integrated waste management services is created to illustrate the pricing mechanisms under the PFI, comparisons with traditional pricing, and a quantitative analysis. A non-PFI model, a PFI 20 year model, and PFI 25 year model are presented in the appendix

The influence of the PFI on waste management pricing

Energy Technology Data Exchange (ETDEWEB)

NONE

2000-07-01

This report analyses the pricing mechanisms generated within the waste management sector under the Private Finance Initiative (PFI) and compares them with the cost-plus pricing mechanisms. The background to the research is traced, and the influence of the PFI on service procurement, the incentives to use PFI, the procurement process, and the allocation of contractual risk are discussed. The PFI pricing mechanisms are described, and a case study of a hypothetical local authority involved in the tender for integrated waste management services is created to illustrate the pricing mechanisms under the PFI, comparisons with traditional pricing, and a quantitative analysis. A non-PFI model, a PFI 20 year model, and PFI 25 year model are presented in the appendix.

Signaling Mechanisms in Pattern-Triggered Immunity (PTI)

KAUST Repository

Bigeard, Jean; Colcombet, Jean; Hirt, Heribert

2015-01-01

In nature, plants constantly have to face pathogen attacks. However, plant disease rarely occurs due to efficient immune systems possessed by the host plants. Pathogens are perceived by two different recognition systems that initiate the so-called pattern-triggered immunity (PTI) and effector-triggered immunity (ETI), both of which are accompanied by a set of induced defenses that usually repel pathogen attacks. Here we discuss the complex network of signaling pathways occurring during PTI, focusing on the involvement of mitogen-activated protein kinases. © 2015 The Author.

Competitive Pricing by a Price Leader

OpenAIRE

Abhik Roy; Dominique M. Hanssens; Jagmohan S. Raju

1994-01-01

We examine the problem of pricing in a market where one brand acts as a price leader. We develop a procedure to estimate a leader's price rule, which is optimal given a sales target objective, and allows for the inclusion of demand forecasts. We illustrate our estimation procedure by calibrating this optimal price rule for both the leader and the follower using data on past sales and prices from the mid-size sedan segment of the U.S. automobile market. Our results suggest that a leader-follow...

Strategies for risk management using the paper markets [to minimize oil price risks

International Nuclear Information System (INIS)

Annesley, M.

1993-01-01

The severe price movement experienced within energy markets during the last few years have awakened significant interest in hedging, and other uses of the futures, options, forward and derivative markets, to minimise price risk. There are two basic strands of structure of the markets now available for risk mangement. The first of these is the Exchange markets (IPE, NYMEX, and SIMEX) providing various futures and options alternatives; the second is the forward cargo contracts. The liquidity in these forward cargo markets, is variable but the contracts do provide some hedging and price risk management opportunities, which supplement and complement the Exchange markets, particularly for the professional risk managers and market makers. A range of forward markets is potentially available serving all regions. The more recent development of widely used derivative contracts, notably the swaps and price triggering in physical sale contracts, gives further alternatives from which interested companies may choose. The derivative market, although by definition off-exchange' may use either the Exchanges, forward markets or various oil publications for establishing their prices. Therefore, Exchange futures and options, forward markets and either standard or individually tailored derivatives all provide possible solutions to the risk management needs of coping with today's volatile prices. (author)

The voluntary price for the small consumer: Real-time pricing in Spain

International Nuclear Information System (INIS)

Roldán Fernández, Juan Manuel; Payán, Manuel Burgos; Santos, Jesús Manuel Riquelme; García, Ángel Luis Trigo

2017-01-01

In 2013, a period of reform was initiated of the regulatory framework of the Spanish electricity sector. A year later, the methodology for the calculation of the Voluntary Price for the Small Consumer (VPSC) was approved: a real-time price tariff for small domestic consumers. Under this price-setting system, VPSC consumers are billed according to their hourly consumption and hourly prices along the day. Directive 27/2014/EU, on energy saving, was also transposed to Spanish regulation in 2014. The impact on the Spanish electricity market and domestic VPSC consumers of these two recent energy policy modifications are analyzed in this work. A qualitative model, based on the flexibility of the merit-order curves, is first introduced to formulate a number of hypotheses. A set of scenarios are then examined to quantify the main effects on the market and on domestic consumers. The results show that domestic energy-saving, and, to a lesser extent, load-shifting scenarios, can diminish the mean hourly price and the cost of the annual traded energy in the market. Nevertheless, these reductions are mainly granted to large qualified consumers, since domestic consumers mostly benefit from the reduction of their energy demand rather than from a reduction of the price. - Graphical abstract: Load saving and load-shifting performed by small VPSC consumers reduces the hourly clearing price and the traded energy leading to some rent transfer from the generators to the purchasing agents. The cost saving for VPSC consumers is mainly related to the energy they saved. They profit only partially from the market cost saving. - Highlights: • Merit-order effect related to energy saving and load-shifting are identified. • Domestic consumers are able to conduct energy saving and load-shifting at no cost. • Cyclic load-shifting reduces the traded energy and the economic cost in the market. • Rent transfer form generators to purchasing agents catalyzed by costumers’ saving. �

Factors influencing global antiretroviral procurement prices.

Science.gov (United States)

Wirtz, Veronika J; Forsythe, Steven; Valencia-Mendoza, Atanacio; Bautista-Arredondo, Sergio

2009-11-18

Antiretroviral medicines (ARVs) are one of the most costly parts of HIV/AIDS treatment. Many countries are struggling to provide universal access to ARVs for all people living with HIV and AIDS. Although substantial price reductions of ARVs have occurred, especially between 2002 and 2008, achieving sustainable access for the next several decades remains a major challenge for most low- and middle-income countries. The objectives of the present study were twofold: first, to analyze global ARV prices between 2005 and 2008 and associated factors, particularly procurement methods and key donor policies on ARV procurement efficiency; second, to discuss the options of procurement processes and policies that should be considered when implementing or reforming access to ARV programs. An ARV-medicines price-analysis was carried out using the Global Price Reporting Mechanism from the World Health Organization. For a selection of 12 ARVs, global median prices and price variation were calculated. Linear regression models for each ARV were used to identify factors that were associated with lower procurement prices. Logistic regression models were used to identify the characteristics of those countries which procure below the highest and lowest direct manufactured costs. Three key factors appear to have an influence on a country's ARV prices: (a) whether the product is generic or not; (b) the socioeconomic status of the country; (c) whether the country is a member of the Clinton HIV/AIDS Initiative. Factors which did not influence procurement below the highest direct manufactured costs were HIV prevalence, procurement volume, whether the country belongs to the least developed countries or a focus country of the United States President's Emergency Plan For AIDS Relief. One of the principal mechanisms that can help to lower prices for ARV over the next several decades is increasing procurement efficiency. Benchmarking prices could be one useful tool to achieve this.

List prices vs. bargain prices: which solution to estimate consumer price indices?

OpenAIRE

Carlo De Gregorio

2010-01-01

Alternative approaches to CPI surveys are here evaluated, in markets where final prices are based on some sort of price listing. Three types of surveys are compared: local surveys (LOC), with small samples and a local price collection; list price surveys (LIS), with huge samples and centralised collection; mixed surveys (MXD), in which LOC and LIS are jointly used. Based on a multiplicative pricing model, some conditions are derived to establish the relative efficiency of these approaches. Th...

Energy prices, equalization and federalism

International Nuclear Information System (INIS)

Courchene, T.J.

2005-01-01

initiative orchestrated by the provinces to allow them to increase their ability to manoeuvre in the federation, and resolve the underlying issue of satisfying the constitutional commitment that all Canadians should have access to comparable public services. It was concluded that a failure to come to terms with societal values could mean that the current energy price surge might have dramatic ramifications for the evolution of the federation. 1 fig

Energy prices, equalization and federalism

Energy Technology Data Exchange (ETDEWEB)

Courchene, T.J. [Queen' s Univ., Kingston, ON (Canada). School of Policy Studies

2005-10-01

initiative orchestrated by the provinces to allow them to increase their ability to manoeuvre in the federation, and resolve the underlying issue of satisfying the constitutional commitment that all Canadians should have access to comparable public services. It was concluded that a failure to come to terms with societal values could mean that the current energy price surge might have dramatic ramifications for the evolution of the federation. 1 fig.

An Event-Triggered Online Energy Management Algorithm of Smart Home: Lyapunov Optimization Approach

Directory of Open Access Journals (Sweden)

Wei Fan

2016-05-01

Full Text Available As an important component of the smart grid on the user side, a home energy management system is the core of optimal operation for a smart home. In this paper, the energy scheduling problem for a household equipped with photovoltaic devices was investigated. An online energy management algorithm based on event triggering was proposed. The Lyapunov optimization method was adopted to schedule controllable load in the household. Without forecasting related variables, real-time decisions were made based only on the current information. Energy could be rapidly regulated under the fluctuation of distributed generation, electricity demand and market price. The event-triggering mechanism was adopted to trigger the execution of the online algorithm, so as to cut down the execution frequency and unnecessary calculation. A comprehensive result obtained from simulation shows that the proposed algorithm could effectively decrease the electricity bills of users. Moreover, the required computational resource is small, which contributes to the low-cost energy management of a smart home.

TRIGGER

CERN Multimedia

W. Smith

At the March meeting, the CMS trigger group reported on progress in production, tests in the Electronics Integration Center (EIC) in Prevessin 904, progress on trigger installation in the underground counting room at point 5, USC55, the program of trigger pattern tests and vertical slice tests and planning for the Global Runs starting this summer. The trigger group is engaged in the final stages of production testing, systems integration, and software and firmware development. Most systems are delivering final tested electronics to CERN. The installation in USC55 is underway and integration testing is in full swing. A program of orderly connection and checkout with subsystems and central systems has been developed. This program includes a series of vertical subsystem slice tests providing validation of a portion of each subsystem from front-end electronics through the trigger and DAQ to data captured and stored. After full checkout, trigger subsystems will be then operated in the CMS Global Runs. Continuous...

TRIGGER

CERN Multimedia

Wesley Smith

2011-01-01

Level-1 Trigger Hardware and Software New Forward Scintillating Counters (FSC) for rapidity gap measurements have been installed and integrated into the Trigger recently. For the Global Muon Trigger, tuning of quality criteria has led to improvements in muon trigger efficiencies. Several subsystems have started campaigns to increase spares by recovering boards or producing new ones. The barrel muon sector collector test system has been reactivated, new η track finder boards are in production, and φ track finder boards are under revision. In the CSC track finder, an η asymmetry problem has been corrected. New pT look-up tables have also improved efficiency. RPC patterns were changed from four out of six coincident layers to three out of six in the barrel, which led to a significant increase in efficiency. A new PAC firmware to trigger on heavy stable charged particles allows looking for chamber hit coincidences in two consecutive bunch-crossings. The redesign of the L1 Trigger Emulator...

TRIGGER

CERN Multimedia

W. Smith from contributions of C. Leonidopoulos, I. Mikulec, J. Varela and C. Wulz.

Level-1 Trigger Hardware and Software Over the past few months, the Level-1 trigger has successfully recorded data with cosmic rays over long continuous stretches as well as LHC splash events, beam halo, and collision events. The L1 trigger hardware, firmware, synchronization, performance and readiness for beam operation were reviewed in October. All L1 trigger hardware is now installed at Point 5, and most of it is completely commissioned. While the barrel ECAL Trigger Concentrator Cards are fully operational, the recently delivered endcap ECAL TCC system is still being commissioned. For most systems there is a sufficient number of spares available, but for a few systems additional reserve modules are needed. It was decided to increase the overall L1 latency by three bunch crossings to increase the safety margin for trigger timing adjustments. In order for CMS to continue data taking during LHC frequency ramps, the clock distribution tree needs to be reset. The procedures for this have been tested. A repl...

Minimum Bias Trigger Scintillators for ATLAS: Commissioning and Run 2 Initial Operation

CERN Document Server

Dano Hoffmann, Maria; The ATLAS collaboration

2015-01-01

The Minimum Bias Trigger Scintillators (MBTS) delivered the primary trigger for selecting events from low luminosity proton-proton, lead-lead and lead-proton collisions with the smallest possible bias during LHC Run 1 (2009-2013). Similarly, the MBTS will select events for the first Run 2 physics measurements, for instance charge multiplicity, proton-proton cross section, rapidity gap measurements, etc. at the unprecedented 13 TeV center of mass energy of proton-proton collisions. We will review the upgrades to the MBTS detector that have been implemented during the 2013-2014 shutdown. New scintillators have been installed to replace the radiation damaged ones, a modified optical readout scheme have been adopted to increase the light yield and an improved data acquisition chain has been used to cope with the few issues observed during Run 1 operations. Since late 2014, MBTS have been commissioned during cosmic data taking, first LHC beam splashes and single beam LHC fills. The goal is to have a fully commissi...

Arbitrage Pricing, Capital Asset Pricing, and Agricultural Assets

OpenAIRE

Louise M. Arthur; Colin A. Carter; Fay Abizadeh

1988-01-01

A new asset pricing model, the arbitrage pricing theory, has been developed as an alternative to the capital asset pricing model. The arbitrage pricing theory model is used to analyze the relationship between risk and return for agricultural assets. The major conclusion is that the arbitrage pricing theory results support previous capital asset pricing model findings that the estimated risk associated with agricultural assets is low. This conclusion is more robust for the arbitrage pricing th...

Output Price Risk, Material Input Price Risk, and Price Margins: Evidence from the US Catfish Industry.

Directory of Open Access Journals (Sweden)

David Bouras

2017-07-01

Full Text Available Aim/purpose - To develop a conceptual model for analyzing the impact of output price risk and material input price risk on price margins. Design/methodology/approach - To analyze the combined effect of output price risk and material input risk on price margins, we use a series of comparative static analyses, GARCH models, and data ranging from 1990/01 to 2012/12. Findings - The theoretical results indicate that the impact of output price risk and the impact of material input price risk on price margins are ambiguous and, to a great extent, hinge on the correlation between output price and material input price. The empirical results show that whole frozen catfish price risk and live catfish price risk negatively affect the price margin for frozen catfish. The empirical results, however, indicate that the risk of the price of live catfish affects markedly the price margin for frozen whole catfish in contrast to the impact of the risk of the price of frozen whole catfish. Research implications/limitations - The empirical results have significant implications for managerial decision-making especially when crafting strategies for improving price margins. Accordingly, in order to beef up the price margin for frozen whole catfish, catfish processors may consider engaging in vertical integration. This paper has some limitations: first, it assumes that firms operate in competitive markets; second, it assumes that firms produce and sell a single product. Originality/value/contribution - Unlike earlier studies that focused solely on the effect of output price risk on price margins, this paper analyzes theoretically and empirically the impact of output price risk and material input price risk on price margins.

PRICE CATEGORIES USED IN FOREIGN TRADE TRANSACTIONS IN THE LIGHT OF THE DELIVERY TERMS INCOTERMS 2010

Directory of Open Access Journals (Sweden)

Paliu - Popa Lucia

2011-12-01

Full Text Available On the international markets of goods, pricing is usually done by the confrontation between supply and demand, under pressure from global competition; such pricing is influenced by many other factors that reflect the structural crisis phenomena triggered in the world economy, or factors specific to different groups of goods. After negotiation, the contracting parties should obtain the best price, taking into account the circumstantial situation of the world market upon the transaction, the quality and the technical and functional parameters of the goods subject to negotiations, comparable to those of the competition, the delivery terms and the payment method. From this perspective, we believe that the provision of substantiated external prices makes it easier to obtain maximum benefits and achieve the trade with foreign countries under the best terms. Because the external price is an essential element of the agreement of international sale of goods that contributes substantially to the profitability of an entity, we will deal below with the main categories of prices used in foreign trade activities, both in intra-Community and international transactions, taking into account the models for calculating the external price, compared to the delivery terms Incoterms 2010.

The Multi-Frequency Correlation Between Eua and sCER Futures Prices: Evidence from the Emd Approach

Science.gov (United States)

Zhang, Yue-Jun; Huang, Yi-Song

2015-05-01

Currently European Union Allowances (EUA) and secondary Certified Emission Reduction (sCER) have become two dominant carbon trading assets for investors and their linkage attracts much attention from academia and practitioners in recent years. Under this circumstance, we use the empirical mode decomposition (EMD) approach to decompose the two carbon futures contract prices and discuss their correlation from the multi-frequency perspective. The empirical results indicate that, first, the EUA and sCER futures price movements can be divided into those triggered by the long-term, medium-term and short-term market impacts. Second, the price movements in the EUA and sCER futures markets are primarily caused by the long-term impact, while the short-term impact can only explain a small fraction. Finally, the long-term (short-term) effect on EUA prices is statistically uncorrelated with the short-term (long-term) effect of sCER prices, and there is a medium or strong lead-and-lag correlation between the EUA and sCER price components with the same time scales. These results may provide some important insights of price forecast and arbitraging activities for carbon futures market investors, analysts and regulators.

Carbon price and wind power support in Denmark

International Nuclear Information System (INIS)

Gavard, Claire

2016-01-01

This paper aims at characterizing the conditions of wind power deployment in order to infer a carbon price level that would provide wind power with comparable advantage over fossil fuel technologies as effective wind support policies. The analysis is conducted on Denmark after the electricity market liberalization. Probit and tobit techniques are employed to take account of a potential threshold effect. I find that the level and type of the support policy are the dominant drivers of deployment. A feed-in tariff significantly brings more wind power in than a premium policy. The additional capacity installed monthly increases by more than 1 MW for each additional €/MWh of support. This is compared to the effect of the electricity price, investment cost, interest rate and general economic activity. If the policy is a premium, I find that 23€/MWh of support in addition to electricity price is needed to observe the connection of new turbines to the grid with a 0.5 probability. I convert this support level into a carbon price of 27€/ton if wind power competes with coal, and 48€/t if it competes with gas. - Highlights: •I analyze wind power development in Denmark between 2000 and 2010. •I use probit and tobit techniques to assess the determinants of this deployment. •The level and policy type of wind power support are the main drivers. •I deduct the critical level of premium needed to trigger wind power. •I convert this into an equivalent carbon price and I find that it is below 50€/ton.

Supervision of the ATLAS High Level Trigger System

CERN Document Server

Wheeler, S.; Meessen, C.; Qian, Z.; Touchard, F.; Negri, France A.; Zobernig, H.; CHEP 2003 Computing in High Energy Physics; Negri, France A.

2003-01-01

The ATLAS High Level Trigger (HLT) system provides software-based event selection after the initial LVL1 hardware trigger. It is composed of two stages, the LVL2 trigger and the Event Filter. The HLT is implemented as software tasks running on large processor farms. An essential part of the HLT is the supervision system, which is responsible for configuring, coordinating, controlling and monitoring the many hundreds of processes running in the HLT. A prototype implementation of the supervision system, using tools from the ATLAS Online Software system is presented. Results from scalability tests are also presented where the supervision system was shown to be capable of controlling over 1000 HLT processes running on 230 nodes.

7 CFR 1000.53 - Announcement of class prices, component prices, and advanced pricing factors.

Science.gov (United States)

2010-01-01

... advanced pricing factors. 1000.53 Section 1000.53 Agriculture Regulations of the Department of Agriculture..., component prices, and advanced pricing factors. (a) On or before the 5th day of the month, the market... administrator for each Federal milk marketing order shall announce the following prices and pricing factors for...

Ex-vessel Fish Price Database: Disaggregating Prices for Low-Priced Species from Reduction Fisheries

Directory of Open Access Journals (Sweden)

Travis C. Tai

2017-11-01

Full Text Available Ex-vessel fish prices are essential for comprehensive fisheries management and socioeconomic analyses for fisheries science. In this paper, we reconstructed a global ex-vessel price database with the following areas of improvement: (1 compiling reported prices explicitly listed as “for reduction to fishmeal and fish oil” to estimate prices separately for catches destined for fishmeal and fish oil production, and other non-direct human consumption purposes; (2 including 95% confidence limit estimates for each price estimation; and (3 increasing the number of input data and the number of price estimates to match the reconstructed Sea Around Us catch database. Our primary focus was to address this first area of improvement as ex-vessel prices for catches destined for non-direct human consumption purposes were substantially overestimated, notably in countries with large reduction fisheries. For example in Peru, 2010 landed values were estimated as 3.8 billion real 2010 USD when using separate prices for reduction fisheries, compared with 5.8 billion using previous methods with only one price for all end-products. This update of the price database has significant global and country-specific impacts on fisheries price and landed value trends over time.

TRIGGER

CERN Multimedia

W. Smith, from contributions of D. Acosta

2012-01-01

  The L1 Trigger group deployed several major improvements this year. Compared to 2011, the single-muon trigger rate has been reduced by a factor of 2 and the η coverage has been restored to 2.4, with high efficiency. During the current technical stop, a higher jet seed threshold will be applied in the Global Calorimeter Trigger in order to significantly reduce the strong pile-up dependence of the HT and multi-jet triggers. The currently deployed L1 menu, with the “6E33” prescales, has a total rate of less than 100 kHz and operates with detector readout dead time of less than 3% for luminosities up to 6.5 × 1033 cm–2s–1. Further prescale sets have been created for 7 and 8 × 1033 cm–2s–1 luminosities. The L1 DPG is evaluating the performance of the Trigger for upcoming conferences and publication. Progress on the Trigger upgrade was reviewed during the May Upgrade Week. We are investigating scenarios for stagin...

TRIGGER

CERN Multimedia

R. Arcidiacono

2013-01-01

  In 2013 the Trigger Studies Group (TSG) has been restructured in three sub-groups: STEAM, for the development of new HLT menus and monitoring their performance; STORM, for the development of HLT tools, code and actual configurations; and FOG, responsible for the online operations of the High Level Trigger. The Strategy for Trigger Evolution And Monitoring (STEAM) group is responsible for Trigger Menu development, path timing, trigger performance studies coordination, HLT offline DQM as well as HLT release, menu and conditions validation – in collaboration and with the technical support of the PdmV group. Since the end of proton-proton data taking, the group has started preparing for 2015 data taking, with collisions at 13 TeV and 25 ns bunch spacing. The reliability of the extrapolation to higher energy is being evaluated comparing the trigger rates on 7 and 8 TeV Monte Carlo samples with the data taken in the past two years. The effect of 25 ns bunch spacing is being studied on the d...

TRIGGER

CERN Multimedia

W. Smith

Level-1 Trigger Hardware and Software The road map for the final commissioning of the level-1 trigger system has been set. The software for the trigger subsystems is being upgraded to run under CERN Scientific Linux 4 (SLC4). There is also a new release for the Trigger Supervisor (TS 1.4), which implies upgrade work by the subsystems. As reported by the CERN group, a campaign to tidy the Trigger Timing and Control (TTC) racks has begun. The machine interface was upgraded by installing the new RF2TTC module, which receives RF signals from LHC Point 4. Two Beam Synchronous Timing (BST) signals, one for each beam, can now be received in CMS. The machine group will define the exact format of the information content shortly. The margin on the locking range of the CMS QPLL is planned for study for different subsystems in the next Global Runs, using a function generator. The TTC software has been successfully tested on SLC4. Some TTC subsystems have already been upgraded to SLC4. The TTCci Trigger Supervisor ...

Wealth Transfers Among Large Customers from Implementing Real-Time Retail Electricity Pricing

OpenAIRE

Borenstein, Severin

2007-01-01

Adoption of real-time electricity pricing — retail prices that vary hourly to reflect changing wholesale prices — removes existing cross-subsidies to those customers that consume disproportionately more when wholesale prices are highest. If their losses are substantial, these customers are likely to oppose RTP initiatives unless there is a supplemental program to offset their loss. Using data on a sample of 1142 large industrial and commercial customers in northern California, I show that RTP...

Why monetary board: Monetary board and endogenic price flexibility

Directory of Open Access Journals (Sweden)

Bašić Tamara

2004-01-01

Full Text Available The paper presents a model which proves that a unilateral exchange rate fixing, i.e. monetary board, as opposed to certain opinions, is an optimal policy since it increases flexibility of nominal prices, which is the ultimate goal of a flexible exchange rate policy. A suitable calibration of the model shows that the higher the initial price flexibility, the lower the difference needed for "utility increase" in getting the producers to switch from fixed to flexible prices. The results obtained in all cases indicate that exchange rate fixing increases price flexibility, which proves that a unilateral exchange rate fixing, i.e. monetary board, could be an optimal monetary policy.

The impact of energy prices on industrial energy efficiency and productivity

International Nuclear Information System (INIS)

Boyd, G.A.

1993-01-01

Energy prices moved into the forefront of concern in the mid and late seventies when two oil price shocks drove up energy prices dramatically. The analysis of the subsequent increase in industrial energy efficiency, i.e., decline in energy use per unit of industrial output, has filled volumes of government and private studies. Despite the volumes of analysis, there remains no consensus on the magnitude of the effect of energy prices on industrial energy efficiency or the effect of the change in energy prices on productivity. This paper examines some sources of the controversy to initiate a dialog between policy makers, analysts, and the energy consumers and producers

Price strategy and pricing strategy: terms and content identification

OpenAIRE

Panasenko Tetyana

2015-01-01

The article is devoted to the terminology and content identification of seemingly identical concepts "price strategy" and "pricing strategy". The article contains evidence that the price strategy determines the direction, principles and procedure of implementing the company price policy and pricing strategy creates a set of rules and practical methods of price formation in accordance with the pricing strategy of the company.

A Two-Step Approach for Analytical Optimal Hedging with Two Triggers

Directory of Open Access Journals (Sweden)

Tiesong Hu

2016-02-01

Full Text Available Hedging is widely used to mitigate severe water shortages in the operation of reservoirs during droughts. Rationing is usually instituted with one hedging policy, which is based only on one trigger, i.e., initial storage level or current water availability. It may perform poorly in balancing the benefits of a release during the current period versus those of carryover storage during future droughts. This study proposes a novel hedging rule to improve the efficiency of a reservoir operated to supply water, in which, based on two triggers, hedging is initiated with three different hedging sub-rules through a two-step approach. In the first step, the sub-rule is triggered based on the relationship between the initial reservoir storage level and the level of the target rule curve or the firm rule curve at the end of the current period. This step is mainly concerned with increasing the water level or not in the current period. Hedging is then triggered under the sub-rule based on current water availability in the second step, in which the trigger implicitly considers both initial and ending reservoir storage levels in the current period. Moreover, the amount of hedging is analytically derived based on the Karush–Kuhn–Tucker (KKT conditions. In addition, the hedging parameters are optimized using the improved particle swarm optimization (IPSO algorithm coupled with a rule-based simulation. A single water-supply reservoir located in Hubei Province in central China is selected as a case study. The operation results show that the proposed rule is reasonable and significantly improves the reservoir operation performance for both long-term and critical periods relative to other operation policies, such as the standard operating policy (SOP and the most commonly used hedging rules.

Value based pricing: the least valued pricing strategy

OpenAIRE

Hoenen, Bob

2017-01-01

Pricing has been one of the least researched topics in marketing, although within these pricing strategies: cost-plus pricing is considered as the leading pricing strategy worldwide. Why should companies use such an unprofitable strategy, where fighting for a higher market share due to low prices is more a rule than exception? VBP is one of the most underestimated strategies by organizations. The definition of VBP is: 'value pricing applies to products that have the potential of being differe...

The FDA Unapproved Drugs Initiative: An Observational Study of the Consequences for Drug Prices and Shortages in the United States.

Science.gov (United States)

Gupta, Ravi; Dhruva, Sanket S; Fox, Erin R; Ross, Joseph S

2017-10-01

Hundreds of drug products are currently marketed in the United States without approval from the FDA. The 2006 Unapproved Drugs Initiative (UDI) requires manufacturers to remove these drug products from the market or obtain FDA approval by demonstrating evidence of safety and efficacy. Once the FDA acts against an unapproved drug, fewer manufacturers remain in the market, potentially enabling drug price increases and greater susceptibility to drug shortages. There is a need for systematic study of the UDI's effect on prices and shortages of all targeted drugs. To examine the clinical evidence for approval and association with prices and shortages of previously unapproved prescription drugs after being addressed by the UDI. Previously unapproved prescription drugs that faced UDI regulatory action or with at least 1 product that received FDA approval through manufacturers' voluntary compliance with the UDI between 2006 and 2015 were identified. The clinical evidence was categorized as either newly conducted clinical trials or use of previously published literature and/or bioequivalence studies to demonstrate safety and efficacy. We determined the change in average wholesale price, presence of shortage, and duration of shortage for each drug during the 2 years before and after UDI regulatory action or approval through voluntary compliance. Between 2006 and 2015, 34 previously unapproved prescription drugs were addressed by the UDI. Nearly 90% of those with a drug product that received FDA approval were supported by literature reviews or bioequivalence studies, not new clinical trial evidence. Among the 26 drugs with available pricing data, average wholesale price during the 2 years before and after voluntary approval or UDI action increased by a median of 37% (interquartile range [IQR] = 23%-204%; P Innovation; from the Blue Cross Blue Shield Association to better understand medical technology evidence generation; from the Centers for Medicare & Medicaid Services to

48 CFR 36.207 - Pricing fixed-price construction contracts.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Pricing fixed-price... Contracting for Construction 36.207 Pricing fixed-price construction contracts. (a) Generally, firm-fixed... methods. (b) Lump-sum pricing shall be used in preference to unit pricing except when— (1) Large...

Price strategy and pricing strategy: terms and content identification

Directory of Open Access Journals (Sweden)

Panasenko Tetyana

2015-11-01

Full Text Available The article is devoted to the terminology and content identification of seemingly identical concepts "price strategy" and "pricing strategy". The article contains evidence that the price strategy determines the direction, principles and procedure of implementing the company price policy and pricing strategy creates a set of rules and practical methods of price formation in accordance with the pricing strategy of the company.

Research of the Stock Price Overreaction and Investor Overconfidence Issues

Directory of Open Access Journals (Sweden)

Bayu Raharja

2017-06-01

Full Text Available This research examines the existing of investor overconfidence in the capital market and the phenomena of stock prices reversal in the future due to the existing of this behavior. It has a different approach to test the existing of investor overconfidence by introducing firm’s growth as the information which has triggered many investors to behave overconfidently. By using multiple regression analysis, the results of this research confirmed our conducted hypothesis, investor tends to behave overconfident to firms which have higher growth. It proofed by the positive relation between firms’ growth and trading volume. Afterward, this research also found that higher growth firms tend to have declining on its performance in the future. The negative relation between firms’ growth and longterm performance means that the stock’s price reversal caused by the existing of investor overconfidence.

Adjusting the CO2 cap to subsidised RES generation: Can CO2 prices be decoupled from renewable policy?

International Nuclear Information System (INIS)

Richstein, Jörn C.; Chappin, Émile J.L.; Vries, Laurens J. de

2015-01-01

Highlights: • Strong renewable policy can cause price drops in an emission trading system (ETS). • Cap reduction based on exceedance of original policy goals could prevent price drops. • Dynamic cap reduction makes renewable policy climate effective in an ETS. • Dynamic cap reduction is not useful for reaching carbon price or volatility goals. • Dynamic cap reduction could undo the “green promotes the dirtiest” effect. - Abstract: The low prices in the European Emission Trading System (EU ETS) have triggered discussions of various possible reforms. One option is to decouple the CO 2 prices from renewable energy policy by adjusting the emission cap to renewable energy investment overshoots. We introduce two ways of reducing the CO 2 cap in response to overshoots of renewable policy investment over previously announced targets. We investigate these options with the agent-based model EMLab-generation. We find that both policy implementations are successful in restoring prices. They also ensure that making public investments that exceed policy targets contribute to carbon emission reduction, and that renewable policy does not benefit the most emission-intensive power plants. However, neither policy is suitable for achieving specifc levels of prices or price volatility

Logistics: Price Rises Incurred by High Oil Price

Institute of Scientific and Technical Information of China (English)

Lai Zhihui

2011-01-01

@@ "When the oil price grows by 100%, the logistic indus-try will see a price growth of 40%, while the logistics in-dustry a price rise of 35%, which means every price increase of 5% in the oil price will bring along that of 2% in this industry." said Liu Zongsheng, General Manager of Itochu Logistics Co., Ltd., on the seminar "Focusing on the eco-nomic consequences of raising oil price, interest rate and deposit reserve ratio", which was held recently.

Use of modeling to assess the scalability of Ethernet networks for the ATLAS second level trigger

CERN Document Server

Korcyl, K; Dobinson, Robert W; Saka, F

1999-01-01

The second level trigger of LHC's ATLAS experiment has to perform real-time analyses on detector data at 10 GBytes/s. A switching network is required to connect more than thousand read-out buffers to about thousand processors that execute the trigger algorithm. We are investigating the use of Ethernet technology to build this large switching network. Ethernet is attractive because of the huge installed base, competitive prices, and recent introduction of the high-performance Gigabit version. Due to the network's size it has to be constructed as a layered structure of smaller units. To assess the scalability of such a structure we evaluated a single switch unit. (0 refs).

Enhancing medicine price transparency through price information mechanisms.

Science.gov (United States)

Hinsch, Michael; Kaddar, Miloud; Schmitt, Sarah

2014-05-08

Medicine price information mechanisms provide an essential tool to countries that seek a better understanding of product availability, market prices and price compositions of individual medicines. To be effective and contribute to cost savings, these mechanisms need to consider prices in their particular contexts when comparing between countries. This article discusses in what ways medicine price information mechanisms can contribute to increased price transparency and how this may affect access to medicines for developing countries. We used data collected during the course of a WHO project focusing on the development of a vaccine price and procurement information mechanism. The project collected information from six medicine price information mechanisms and interviewed data managers and technical experts on key aspects as well as observed market effects of these mechanisms.The reviewed mechanisms were broken down into categories including objective and target audience, as well as the sources, types and volumes of data included. Information provided by the mechanisms was reviewed according to data available on medicine prices, product characteristics, and procurement modalities. We found indications of positive effects on access to medicines resulting from the utilization of the reviewed mechanisms. These include the uptake of higher quality medicines, more favorable results from contract negotiations, changes in national pricing policies, and the decrease of prices in certain segments for countries participating in or deriving data from the various mechanisms. The reviewed mechanisms avoid the methodological challenges observed for medicine price comparisons that only use national price databases. They work with high quality data and display prices in the appropriate context of procurement modalities as well as the peculiarities of purchasing countries. Medicine price information mechanisms respond to the need for increased medicine price transparency and have the

Dynamic Pricing

DEFF Research Database (Denmark)

Sharifi, Reza; Anvari-Moghaddam, Amjad; Fathi, S. Hamid

2017-01-01

Dynamic pricing scheme, also known as real-time pricing (RTP), can be more efficient and technically beneficial than the other price-based schemes (such as flat-rate or time-of-use (TOU) pricing) for enabling demand response (DR) actions. Over the past few years, advantages of RTP-based schemes h...... of dynamic pricing can lead to increased willingness of consumers to participate in DR programs which in turn improve the operation of liberalized electricity markets.......Dynamic pricing scheme, also known as real-time pricing (RTP), can be more efficient and technically beneficial than the other price-based schemes (such as flat-rate or time-of-use (TOU) pricing) for enabling demand response (DR) actions. Over the past few years, advantages of RTP-based schemes...

A high-voltage triggered pseudospark discharge experiment

International Nuclear Information System (INIS)

Ramaswamy, K.; Destler, W.W.; Rodgers, J.

1996-01-01

The design and execution of a pulsed high-voltage (350 endash 400 keV) triggered pseudospark discharge experiment is reported. Experimental studies were carried out to obtain an optimal design for stable and reliable pseudospark operation in a high-voltage regime (approx-gt 350 kV). Experiments were performed to determine the most suitable fill gas for electron-beam formation. The pseudospark discharge is initiated by a trigger mechanism involving a flashover between the trigger electrode and hollow cathode housing. Experimental results characterizing the electron-beam energy using the range-energy method are reported. Source size imaging was carried out using an x-ray pinhole camera and a novel technique using Mylar as a witness plate. It was experimentally determined that strong pinching occurred later in time and was associated with the lower-energy electrons. copyright 1996 American Institute of Physics

TRIGGER

CERN Multimedia

by Wesley Smith

2011-01-01

Level-1 Trigger Hardware and Software After the winter shutdown minor hardware problems in several subsystems appeared and were corrected. A reassessment of the overall latency has been made. In the TTC system shorter cables between TTCci and TTCex have been installed, which saved one bunch crossing, but which may have required an adjustment of the RPC timing. In order to tackle Pixel out-of-syncs without influencing other subsystems, a special hardware/firmware re-sync protocol has been introduced in the Global Trigger. The link between the Global Calorimeter Trigger and the Global Trigger with the new optical Global Trigger Interface and optical receiver daughterboards has been successfully tested in the Electronics Integration Centre in building 904. New firmware in the GCT now allows a setting to remove the HF towers from energy sums. The HF sleeves have been replaced, which should lead to reduced rates of anomalous signals, which may allow their inclusion after this is validated. For ECAL, improvements i...

TRIGGER

CERN Multimedia

W. Smith from contributions of C. Leonidopoulos

2010-01-01

Level-1 Trigger Hardware and Software Since nearly all of the Level-1 (L1) Trigger hardware at Point 5 has been commissioned, activities during the past months focused on the fine-tuning of synchronization, particularly for the ECAL and the CSC systems, on firmware upgrades and on improving trigger operation and monitoring. Periodic resynchronizations or hard resets and a shortened luminosity section interval of 23 seconds were implemented. For the DT sector collectors, an automatic power-off was installed in case of high temperatures, and the monitoring capabilities of the opto-receivers and the mini-crates were enhanced. The DTTF and the CSCTF now have improved memory lookup tables. The HCAL trigger primitive logic implemented a new algorithm providing better stability of the energy measurement in the presence of any phase misalignment. For the Global Calorimeter Trigger, additional Source Cards have been manufactured and tested. Testing of the new tau, missing ET and missing HT algorithms is underw...

ASSESSING THE GOVERNANCE FOR COMMODITY PRICE STABILIZATION - A RETROSPECTIVE LOOK

Directory of Open Access Journals (Sweden)

Pop Larisa Nicoleta

2015-07-01

Full Text Available The volatility of commodity prices has become once again a matter of profound and controversial debates for both political and academic spheres worldwide in the framework of the global economy severely distressed by the recent economic turbulences. Although commodity markets were already notorious for their price instability, the events the world economy experienced in the years 2000s offered new connotations to this phenomenon. In the first decade of this millennium, the commodity markets have struggled with high volatility, with prices reaching historical peaks just to crash dramatically some months later and very soon to restart their rise. The significant increase in volatility generated many debates about its triggering factors, the implications in terms of risk exposure of economic actors, but also the need for reconfiguring regulatory policy frameworks. The quest for the most appropriate means to deal with commodity price turbulences has known different stages over the years. Decision makers worldwide have sought alternatives, formulated and tested various mechanisms whose central aim was to mitigate price fluctuations. Governments formulate and implement consistent regulatory policies whose international coordination is a ‘sine qua non’ condition for stabilizing these markets. However, the turbulences on commodity markets often generate policy responses that sometimes exacerbate rather than mitigate the price instability. The purpose of this paper is to assess the subject of governance regarding commodity price stabilization, offering a retrospective look at the mechanisms implemented over the years, with a central focus on the International Commodity Agreements – instruments through which in the previous decades the producer and consumer governments worldwide pursued price stabilization for some key commodities like sugar, coffee, cocoa, tin and natural rubber. After analyzing the effectiveness of the International Agreements and

Report from the June Trigger and Physics Week

CERN Multimedia

Chris Bee

The week of June 4th saw the 5th ATLAS Trigger and Physics week at CERN. The meeting, bringing together people working in the trigger, data preparation, detector combined-performance and physics groups, aimed at focusing work and discussions on preparing ATLAS for first data-taking. The meeting started on Monday afternoon with a set of plenary presentations on topics ranging from software status and validation, the ATLAS analysis model and its implications for the computing model, and initial ideas for trigger menus for the expected LHC start-up luminosity of 1031cm-2s-1. There was also a report from Peter Jenni on the expected LHC start-up schedule. The participation exceeded the organisers' wildest dreams as the CERN Council Chamber (seating capacity 160) proved woefully inadequate to seat everyone. A packed Council Chamber for the opening plenary Tuesday was dedicated to parallel sessions of the trigger and combined performance groups. A great deal of progress was presented in all areas, notably on...

ACCOUNTING ASPECTS OF PRICING AND TRANSFER PRICING

Directory of Open Access Journals (Sweden)

TÜNDE VERES

2011-01-01

Full Text Available The pricing methods in practice need really complex view of the business situation and depend on the strategy and market position of a company. The structure of a price seems simple: cost plus margin. Both categories are special area in the management accounting. Information about the product costs, the allocation methodologies in cost accounting, the analyzing of revenue and different level of the margin needs information from accounting system. This paper analyzes the pricing methods from management accounting aspects to show out the role of the accounting system in the short term and long term pricing and transfer pricing decisions.

Optimal dynamic pricing and replenishment policies for deteriorating items

Directory of Open Access Journals (Sweden)

Masoud Rabbani

2014-08-01

Full Text Available Marketing strategies and proper inventory replenishment policies are often incorporated by enterprises to stimulate demand and maximize profit. The aim of this paper is to represent an integrated model for dynamic pricing and inventory control of deteriorating items. To reflect the dynamic characteristic of the problem, the selling price is defined as a time-dependent function of the initial selling price and the discount rate. In this regard, the price is exponentially discounted to compensate negative impact of the deterioration. The planning horizon is assumed to be infinite and the deterioration rate is time-dependent. In addition to price, the demand rate is dependent on advertisement as a powerful marketing tool. Several theoretical results and an iterative solution algorithm are developed to provide the optimal solution. Finally, to show validity of the model and illustrate the solution procedure, numerical results are presented.

Oil price volatility and the asymmetric response of gasoline prices to oil price increases and decreases

International Nuclear Information System (INIS)

Radchenko, S.

2005-01-01

This paper analyzes the effect of volatility in oil prices on the degree of asymmetry in the response of gasoline prices to oil price increases and decreases. Several time series measures of the asymmetry between the responses of gasoline prices to oil price increases and decreases and several measures of the oil price volatility are constructed. In all models, the degree of asymmetry in gasoline prices declines with an increase in oil price volatility. The results support the oligopolistic coordination theory as a likely explanation of the observed asymmetry and are not consistent with the standard search theory and the search theory with Bayesian updating. (author)

IS THE PRICE RIGHT? PRICING FOR LONG TERM PROFITABILITY

Directory of Open Access Journals (Sweden)

Andrea Erika NYÁRÁDI

2007-01-01

Full Text Available The way how we choose our pricing strategy has a significant impact on company’s success. Nowadays companies more and more adopt a new way of thinking in pricing, namely pricing for a long term period in order to bring higher profitability, to build an efficient pricing strategy. Marketers have only recently begun to focus seriously on effective pricing. These companies are the so called progressive companies. They have begun doing more than just worrying about pricing. To increase profitability many are abandoning traditional reactive pricing procedures in favor of proactive pricing, making explicit corporate decisions to change their focus to growth in top-line sales to growth in profitability. The long-term implications of price strategies are still under-researched, and managers should be aware of shifts in customer reactions that may result from frequent adoption of certain strategies. The company pricing strategy should be seen in relation to developments in the company variables, internal ones (capital strength, competencies, organizational conditions, efficiency of the work force etc. as well as external ones (customers, competitors, the technological development etc., adopting strategic pricing. In this paper I will present the most effective pricing strategies leading to long term profitability, and also suggest practical conditions for pricing strategies to maximize profit in the long run.

Pricing of Licenses on CERN Technology

CERN Document Server

Eide, V; Gaivoronski, Alexei; Huuse, H; Streit-Bianchi, M; Le Goff, J M

2006-01-01

This Master thesis develops a framework for the pricing of licenses on technology, suitable for a Technology Transfer (TT) context that is characterized by a goal of dissemination, early-stage technologies, limited market information, and great variations between technologies. The chosen context is defined by comparing the policy and the specificity of the initial recipient, CERN, to other public research institutions, thereby aiming at the development of a general framework. A conceptual model of the framework is thereafter developed to accommodate considerations of all the indicated characteristics through three main subparts: 1)~the target price, 2)~the walk-away point, and 3)~the royalty structure. For estimation of a suitable target price, valuation methodologies from academic and business literature are reviewed and discussed with regard to their suitability for the chosen TT context, thus selecting six methods of different approaches and varying information dependency. A method for quantifying the appr...

Drug pricing and reimbursement information management: processes and decision making in the global economy

OpenAIRE

Tsourougiannis, Dimitrios

2017-01-01

ABSTRACT Background: Cost-containment initiatives are re-shaping the pharmaceutical business environment and affecting market access as well as pricing and reimbursement decisions. Effective price management procedures are too complex to accomplish manually. Prior to February 2013, price management within Astellas Pharma Europe Ltd was done manually using an Excel database. The system was labour intensive, slow to update, and prone to error. An innovative web-based pricing information managem...

Analyzing the effects of past prices on reference price formation

OpenAIRE

van Oest, R.D.; Paap, R.

2004-01-01

textabstractWe propose a new reference price framework for brand choice. In this framework, we employ a Markov-switching process with an absorbing state to model unobserved price recall of households. Reference prices result from the prices households are able to remember. Our model can be used to learn how many prices observed in the past are used for reference price formation. Furthermore, we learn to what extent households have sufficient price knowledge to form an internal reference price...

Forecasting Day-Ahead Electricity Prices : Utilizing Hourly Prices

NARCIS (Netherlands)

E. Raviv (Eran); K.E. Bouwman (Kees); D.J.C. van Dijk (Dick)

2013-01-01

textabstractThe daily average price of electricity represents the price of electricity to be delivered over the full next day and serves as a key reference price in the electricity market. It is an aggregate that equals the average of hourly prices for delivery during each of the 24 individual

TRIGGER

CERN Multimedia

W. Smith

2011-01-01

Level-1 Trigger Hardware and Software Overall the L1 trigger hardware has been running very smoothly during the last months of proton running. Modifications for the heavy-ion run have been made where necessary. The maximal design rate of 100 kHz can be sustained without problems. All L1 latencies have been rechecked. The recently installed Forward Scintillating Counters (FSC) are being used in the heavy ion run. The ZDC scintillators have been dismantled, but the calorimeter itself remains. We now send the L1 accept signal and other control signals to TOTEM. Trigger cables from TOTEM to CMS will be installed during the Christmas shutdown, so that the TOTEM data can be fully integrated within the CMS readout. New beam gas triggers have been developed, since the BSC-based trigger is no longer usable at high luminosities. In particular, a special BPTX signal is used after a quiet period with no collisions. There is an ongoing campaign to provide enough spare modules for the different subsystems. For example...

TRIGGER

CERN Multimedia

J. Alimena

2013-01-01

Trigger Strategy Group The Strategy for Trigger Evolution And Monitoring (STEAM) group is responsible for the development of future High-Level Trigger menus, as well as of its DQM and validation, in collaboration and with the technical support of the PdmV group. Taking into account the beam energy and luminosity expected in 2015, a rough estimate of the trigger rates indicates a factor four increase with respect to 2012 conditions. Assuming that a factor two can be tolerated thanks to the increase in offline storage and processing capabilities, a toy menu has been developed using the new OpenHLT workflow to estimate the transverse energy/momentum thresholds that would halve the current trigger rates. The CPU time needed to run the HLT has been compared between data taken with 25 ns and 50 ns bunch spacing, for equivalent pile-up: no significant difference was observed on the global time per event distribution at the only available data point, corresponding to a pile-up of about 10 interactions. Using th...

Monitoring Agricultural Production in Primary Export Countries within the framework of the GEOGLAM Initiative

Science.gov (United States)

Becker-Reshef, I.; Justice, C. O.; Vermote, E.

2012-12-01

Up to date, reliable, global, information on crop production prospects is indispensible for informing and regulating grain markets and for instituting effective agricultural policies. The recent price surges in the global grain markets were in large part triggered by extreme weather events in primary grain export countries. These events raise important questions about the accuracy of current production forecasts and their role in market fluctuations, and highlight the deficiencies in the state of global agricultural monitoring. Satellite-based earth observations are increasingly utilized as a tool for monitoring agricultural production as they offer cost-effective, daily, global information on crop growth and extent and their utility for crop production forecasting has long been demonstrated. Within this context, the Group on Earth Observations developed the Global Agricultural Monitoring (GEOGLAM) initiative which was adopted by the G20 as part of the action plan on food price volatility and agriculture. The goal of GEOGLAM is to enhance agricultural production estimates through the use of Earth observations. This talk will explore the potential contribution of EO-based methods for improving the accuracy of early production estimates of main export countries within the framework of GEOGLAM.

Oil prices and the stock prices of alternative energy companies

International Nuclear Information System (INIS)

Henriques, Irene; Sadorsky, Perry

2008-01-01

Energy security issues coupled with increased concern over the natural environment are driving factors behind oil price movements. While it is widely accepted that rising oil prices are good for the financial performance of alternative energy companies, there has been relatively little statistical work done to measure just how sensitive the financial performance of alternative energy companies are to changes in oil prices. In this paper, a four variable vector autoregression model is developed and estimated in order to investigate the empirical relationship between alternative energy stock prices, technology stock prices, oil prices, and interest rates. Our results show technology stock prices and oil prices each individually Granger cause the stock prices of alternative energy companies. Simulation results show that a shock to technology stock prices has a larger impact on alternative energy stock prices than does a shock to oil prices. These results should be of use to investors, managers and policy makers. (author)

Transfer pricing in Serbia: Facing a sobering reality

Directory of Open Access Journals (Sweden)

Kostić Svetislav V.

2017-01-01

Full Text Available This paper attempts to systematize the basic pillars of Serbian policy in the area of corporate income taxation of related party transactions (transfer pricing. The author looks at the very first Serbian transfer pricing legislation introduced in 1991 and follows its development through to the present. Principle focus is directed towards the policy drivers behind the 2012 and 2013 comprehensive reform of the Serbian transfer pricing provisions, which the author analyses with the added value of hindsight. Despite a generally positive view on what was achieved by the 2012 amendments to the Serbian transfer pricing legislation, the author offers a divergent view. A critical assessment is provided and the author stipulates the reasons which suggest that the respective amendments failed to meet desired goals in the area of transfer pricing set in 2012 and 2013. The author tries to deduce the lessons that should be taken into consideration in the future legislation reform initiatives and attempts to find alternative paths that should be taken in order to avoid repeating identical mistakes.

Forecasting Day-Ahead Electricity Prices: Utilizing Hourly Prices

OpenAIRE

Raviv, Eran; Bouwman, Kees E.; van Dijk, Dick

2013-01-01

This discussion paper led to a publication in 'Energy Economics' , 2015, 50, 227-239. The daily average price of electricity represents the price of electricity to be delivered over the full next day and serves as a key reference price in the electricity market. It is an aggregate that equals the average of hourly prices for delivery during each of the 24 individual hours. This paper demonstrates that the disaggregated hourly prices contain useful predictive information for the daily average ...

Higher Education Prices and Price Indexes. 1976 Supplement.

Science.gov (United States)

Halstead, Kent D.

The 1976 supplement presents higher education price index data for fiscal years 1971 through 1976. The basic study, "Higher Education Prices and Price Indexes" (ED 123 996) presents complete descriptions of the indexes together with index values and price data for fiscal years 1961 through 1974. Indexes are presented for research and development,…

Another look on the relationships between oil prices and energy prices

International Nuclear Information System (INIS)

Lahiani, Amine; Miloudi, Anthony; Benkraiem, Ramzi; Shahbaz, Muhammad

2017-01-01

This paper employs the Quantile Autoregressive Distributed Lags (QARDL) model developed recently by Cho et al. (2015) to investigate the pass-through of oil prices to a set of energy prices. This approach allows analyzing simultaneously short-term connections and long-run cointegrating relationships across a range of quantiles. It also provides insights on the short-run predictive power of oil prices in predicting energy prices while accounting for the cointegration between oil prices and each of the considered energy prices in low, medium and high quantiles. Two key findings emerge from this paper. First, all considered energy prices are shown to be cointegrated with oil price across quantiles meaning that a stationaryequilibriumrelationship exists between single energy price and oil price. Second, we find evidence that oil price is a significant predictor of individual petroleum products prices and natural gas in the short run. This paper has important policy implications for forecasters, energy policy-makers and portfolio managers. - Highlights: • The pass-through of oil prices to a set of energy prices is investigated for US economy. • All considered energy prices are shown to be cointegrated with oil price across quantiles. • Oil price is a significant predictor of individual petroleum products prices in the short run. • Oil price also predicts natural gas prices in the short run.

Oil Price Rise and the Great Recession of 2008

Directory of Open Access Journals (Sweden)

Mehdi Siamak MONADJEMI

2017-02-01

Full Text Available The financial crises of 2007-2008, caused wide-spread falling output and unemployment, in the affected countries and also globally. The severity of the recession was such that it was called the “Great Recession”. As a result of an increase in demand from China and India, at the same time, oil prices rose significantly. The empirical results from this study show that oil price changes negatively affected global growth rate in the 1970s but not in the 1990s and 2000s. These results suggest that the Great Recession in 2008 that initiated by the financial crises, was independent of a significant rise in oil prices.

Efficient pricing and investment in electricity markets with intermittent resources

International Nuclear Information System (INIS)

Chao, Hung-po

2011-01-01

Facing growing technological and environmental challenges, the electricity industry needs effective pricing mechanism to promote efficient risk management and investment decisions. In a restructured electricity market with competitive wholesale prices and traditionally regulated retail rates, however, there are technical and institutional barriers that prevent dynamic pricing with price responsive demand. In regions with limited energy storage capacity, intermittent renewable resources present special challenges. This could adversely affect the effectiveness of public policies causing inefficient investments in energy technologies. In this paper, we present an updated economic model of pricing and investment in restructured electricity market and use the model in a simulation study for an initial assessment of renewable energy strategy and alternative pricing mechanisms. A key objective of the study is to shed light on the policy issues so that effective decisions can be made to improve efficiency. - Highlights: → Renewable resources present special challenges in regions with limited energy storage capacity. → This paper presents an updated economic model of pricing and investment in restructured electricity market. → A simulation study assesses renewable energy strategy and alternative pricing mechanisms. → The study results inform policy decisions to improve efficient investments in energy technologies.

Pricing Mining Concessions Based on Combined Multinomial Pricing Model

Directory of Open Access Journals (Sweden)

Chang Xiao

2017-01-01

Full Text Available A combined multinomial pricing model is proposed for pricing mining concession in which the annualized volatility of the price of mineral products follows a multinomial distribution. First, a combined multinomial pricing model is proposed which consists of binomial pricing models calculated according to different volatility values. Second, a method is provided to calculate the annualized volatility and the distribution. Third, the value of convenience yields is calculated based on the relationship between the futures price and the spot price. The notion of convenience yields is used to adjust our model as well. Based on an empirical study of a Chinese copper mine concession, we verify that our model is easy to use and better than the model with constant volatility when considering the changing annualized volatility of the price of the mineral product.

Cross-border electricity market effects due to price caps in an emission trading system: An agent-based approach

International Nuclear Information System (INIS)

Richstein, Jörn C.; Chappin, Emile J.L.; Vries, Laurens J. de

2014-01-01

The recent low CO 2 prices in the European Union Emission Trading Scheme (EU ETS) have triggered a discussion whether the EU ETS needs to be adjusted. We study the effects of CO 2 price floors and a price ceiling on the dynamic investment pathway of two interlinked electricity markets (loosely based on Great Britain, which already has introduced a price floor, and on Central Western Europe). Using an agent-based electricity market simulation with endogenous investment and a CO 2 market (including banking), we analyse the cross-border effects of national policies as well as system-wide policy options. A common, moderate CO 2 auction reserve price results in a more continuous decarbonisation pathway. This reduces CO 2 price volatility and the occurrence of carbon shortage price periods, as well as the average cost to consumers. A price ceiling can shield consumers from extreme price shocks. These price restrictions do not cause a large risk of an overall emissions overshoot in the long run. A national price floor lowers the cost to consumers in the other zone; the larger the zone with the price floor, the stronger the effect. Price floors that are too high lead to inefficiencies in investment choices and to higher consumer costs. - Highlights: • Cross-border effects of CO 2 policies were investigated with an agent-based model. • The current EU ETS might cause CO 2 price shocks and CO 2 price volatility. • A CO 2 auction reserve price does not lower welfare, but lowers CO 2 price volatility. • A national CO 2 price floor lowers consumer cost in the other countries. • A CO 2 price ceiling does not lead to an overshoot of emissions

The ATLAS Level-1 Topological Trigger Design and Operation in Run-2

CERN Document Server

Igonkina, Olga; The ATLAS collaboration

2018-01-01

The ATLAS Level-1 Trigger system performs initial event selection using data from calorimeters and the muon spectrometer to reduce the LHC collision event rate down to about 100 kHz. Trigger decisions from the different sub-systems are combined in the Central Trigger Processor for the final Level-1 decision. A new FPGAs-based AdvancedTCA sub-system was introduced to calculate in real time complex kinematic observables: the Topological Processor System. It was installed during the shutdown and commissioning started in 2015 and continued during 2016. The design and operation of the Level-1 Topological Trigger in Run-2 will be illustrated.

The impact of electricity price changes on industrial prices and the general price level in Korea

International Nuclear Information System (INIS)

Lim, Seul-Ye; Yoo, Seung-Hoon

2013-01-01

Electricity has played an important role in the economic development of Korea and, thus, has become a critical factor in sustaining the well-being of the Korean people. This study attempts to investigate the impact of electricity price changes on industrial prices and the general price level using input–output (I–O) analysis. To this end, we apply the I–O price model to the 2011 I–O table recently produced by the Bank of Korea, paying particular attention to the electricity sector by considering it as exogenous and then investigating its impacts. The impacts of the electricity price changes on each industrial sector's prices and the general price level are quantitatively derived. For example, the overall impact of a 10% increase in electricity price on the Korean national economy is estimated to be 0.4367%. We also report the results from the model with the electricity sector endogenous and the model with endogenous electricity and labor sectors. This information can be usefully utilized in decision-making regarding price management for electricity. - Highlights: • We investigate the impact of electricity price changes on the Korean economy. • We use the input–output (I–O) analysis specifying the electricity sector as exogenous. • We apply the I–O price model to 2010 I–O table produced by the Bank of Korea. • The impact of a 10% increase in electricity price on the Korean economy is 0.2176%

Real-time electricity pricing mechanism in China based on system dynamics

International Nuclear Information System (INIS)

He, Yongxiu; Zhang, Jixiang

2015-01-01

Highlights: • The system dynamics is used to research the real-time electricity pricing mechanism. • Four kinds of the real-time electricity pricing models are carried out and simulated. • It analysed the electricity price, the user satisfaction and the social benefits under the different models. • Market pricing is the trend of the real-time electricity pricing mechanism. • Initial development path of the real-time price mechanism for China is designed between 2015 and 2030. - Abstract: As an important means of demand-side response, the reasonable formulation of the electricity price mechanism will have an important impact on the balance between the supply and demand of electric power. With the introduction of Chinese intelligence apparatus and the rapid development of smart grids, real-time electricity pricing, as the frontier electricity pricing mechanism in the smart grid, will have great significance on the promotion of energy conservation and the improvement of the total social surplus. From the perspective of system dynamics, this paper studies different real-time electricity pricing mechanisms based on load structure, cost structure and bidding and analyses the situation of user satisfaction and the total social surplus under different pricing mechanisms. Finally, through the comparative analysis of examples under different real-time pricing scenarios, this paper aims to explore and design the future dynamic real-time electricity pricing mechanism in China, predicts the dynamic real-time pricing level and provides a reference for real-time electricity price promotion in the future

Pricing and the psychology of consumption.

Science.gov (United States)

Gourville, John; Soman, Dilip

2002-09-01

Most executives know how pricing influences the demand for a product, but few of them realize how it affects the consumption of a product. In fact, most companies don't even believe they can have an effect on whether customers use products they have already paid for. In this article, the authors argue that the relationship between pricing and consumption lies at the core of customer strategy. The extent to which a customer uses a product during a certain time period often determines whether he or she will buy the product again. So pricing tactics that encourage people to use the products they've paid for help companies build long-term relationships with customers. The link between pricing and consumption is clear: People are more likely to consume a product when they are aware of its cost. But for many executives, the idea that they should draw consumers' attention to the price that was paid for a product or service is counterintuitive. Companies have long sought to mask the costs of their goods and services in order to boost sales. And rightly so--if a company fails to make the initial sale, it won't have to worry about consumption. So to promote sales, health club managers encourage members to get the payment out of the way early; HMOs encourage automatic payroll deductions; and cruise lines bundle small, specific costs into a single, all-inclusive fee. The problem is, by masking how much a buyer has spent on a given product, these pricing tactics decrease the likelihood that the buyer will actually use it. This article offers some new approaches to pricing--how and when to charge for goods and services--that may boost consumption.

Feynman path integral application on deriving black-scholes diffusion equation for european option pricing

International Nuclear Information System (INIS)

Utama, Briandhika; Purqon, Acep

2016-01-01

Path Integral is a method to transform a function from its initial condition to final condition through multiplying its initial condition with the transition probability function, known as propagator. At the early development, several studies focused to apply this method for solving problems only in Quantum Mechanics. Nevertheless, Path Integral could also apply to other subjects with some modifications in the propagator function. In this study, we investigate the application of Path Integral method in financial derivatives, stock options. Black-Scholes Model (Nobel 1997) was a beginning anchor in Option Pricing study. Though this model did not successfully predict option price perfectly, especially because its sensitivity for the major changing on market, Black-Scholes Model still is a legitimate equation in pricing an option. The derivation of Black-Scholes has a high difficulty level because it is a stochastic partial differential equation. Black-Scholes equation has a similar principle with Path Integral, where in Black-Scholes the share's initial price is transformed to its final price. The Black-Scholes propagator function then derived by introducing a modified Lagrange based on Black-Scholes equation. Furthermore, we study the correlation between path integral analytical solution and Monte-Carlo numeric solution to find the similarity between this two methods. (paper)

Price fairness

OpenAIRE

Diller, Hermann

2013-01-01

Purpose – The purpose of this article is to integrate the various strands of fair price research into a concise conceptual model. Design/methodology/approach – The proposed price fairness model is based on a review of the fair pricing literature, incorporating research reported in not only English but also German. Findings – The proposed fair price model depicts seven components of a fair price: distributive fairness, consistent behaviour, personal respect and regard for the partner, fair dea...

Technology for Price Management in Industrial Differential Product Market

Directory of Open Access Journals (Sweden)

E. V. Orlova

2015-01-01

Full Text Available The article studies price behavior of oligopolies in industrial market where price competition is replaced by non-price competition. There is a developed technology for pricing management of the products of industrial enterprises, which, unlike the existing ones, takes into account the dynamics of changes in consumer preferences and changes in the pricing policy of the enterprise competitor and is based on usage of system dynamics models to simulate the financial and economic performance of enterprises and the fuzzy model for situational analysis and decisionmaking on changes in prices for the products. A pricing simulation model is offered. It is based on system-dynamic modeling method, which takes into account the complex cause-to-effect concatenation of factors on price such as product quality, cost, price competition, price elasticity of economic demand, competitors’ quantity of output and estimates the impact of changing factors of internal and external enterprise environment on the effectiveness of its activities.The simulation model allows us to conduct diverse experiments and analyze the impact of management decisions on the efficiency of the enterprise. Based on the fuzzy approach a price decision-making model is developed. It operates not only precise (numeric values, but also qualitative assessments of variables and provides an adequate use of logical relationships and the laws of the mutual influence of market and production and economic factors. Qualitative dependences, which establish the influence of external and internal factors on the price change, are identified as a result of the study of economic laws and legal conformity that are in the context of rapid economic change and market turbulence may not be strictly formalized and take the form of linguistic statements, which express the conditional relationship between the qualitative assessments of initial factors and changes in the relative price.

Method of triggering the vacuum arc in source with a resistor

International Nuclear Information System (INIS)

Zheng Le; Lan Zhaohui; Long Jidong; Peng Yufei; Li Jie; Yang Zhen; Dong Pan; Shi Jinshui

2014-01-01

Background: The metal vapor vacuum arc (MEVVA) ion source is a common source which provides strong metal ion flow. To trigger this ion source, a high-voltage trigger pulse generator and a high-voltage isolation pulse transformer are needed, which makes the power supply system complex. Purpose: To simplify the power supply system, a trigger method with a resistor was introduced, and some characteristics of this method were studied. Methods: The ion flow provided by different main arc current was measured, as well as the trigger current. The main arc current and the ion current were recorded with different trigger resistances. Results: Experimental results showed that, within a certain range of resistances, the larger the resistance value, the more difficult it was to success fully trigger the source. Meanwhile, the main arc rising edge became slower on the increasing in the trigger time. However, the resistance value increment had hardly impact on the intensity of ion flow extracted in the end, The ion flow became stronger with the increasing main arc current. Conclusion: The power supply system of ion source is simplified by using the trigger method with a resistor. Only a suitable resistor was needed to complete the conversion process from trigger to arc initiating. (authors)

Effect of oil price on Nigeria’s food price volatility

Directory of Open Access Journals (Sweden)

Ijeoma C. Nwoko

2016-12-01

Full Text Available This study examines the effect of oil price on the volatility of food price in Nigeria. It specifically considers the long-run, short-run, and causal relationship between these variables. Annual data on oil price and individual prices of maize, rice, sorghum, soya beans, and wheat spanning from 2000 to 2013 were used. The price volatility for each crop was obtained using Generalized Autoregressive Conditional Heteroskedascity (GARCH (1, 1 model. Our measure of oil price is the Refiner acquisition cost of imported crude oil. The Augmented Dickey–Fuller and Phillip–Perron unit root tests show that all the variables are integrated of order one, I (1. Therefore, we use the Johansen co-integration test to examine the long-run relationship. Our results show that there is no long-run relationship between oil price and any of the individual food price volatility. Thus, we implement a VAR instead of a VECM to investigate the short-run relationship. The VAR model result revealed a positive and significant short-run relationship between oil price and each of the selected food price volatility with exception of that of rice and wheat price volatility. These results were further confirmed by the impulse response functions. The Granger causality test result indicates a unidirectional causality from oil price to maize, soya bean, and sorghum price volatilities but does not show such relationship for rice and wheat price volatilities. We draw some policy implications of these findings.

Stress/strain changes and triggered seismicity at The Geysers, California

Science.gov (United States)

Gomberg, Joan; Davis, Scott

1996-01-01

The principal results of this study of remotely triggered seismicity in The Geysers geothermal field are the demonstration that triggering (initiation of earthquake failure) depends on a critical strain threshold and that the threshold level increases with decreasing frequency, or, equivalently, depends on strain rate. This threshold function derives from (1) analyses of dynamic strains associated with surface waves of the triggering earthquakes, (2) statistically measured aftershock zone dimensions, and (3) analytic functional representations of strains associated with power production and tides. The threshold is also consistent with triggering by static strain changes and implies that both static and dynamic strains may cause aftershocks. The observation that triggered seismicity probably occurs in addition to background activity also provides an important constraint on the triggering process. Assuming the physical processes underlying earthquake nucleation to be the same, Gomberg [this issue] discusses seismicity triggered by the MW 7.3 Landers earthquake, its constraints on the variability of triggering thresholds with site, and the implications of time delays between triggering and triggered earthquakes. Our results enable us to reject the hypothesis that dynamic strains simply nudge prestressed faults over a Coulomb failure threshold sooner than they would have otherwise. We interpret the rate-dependent triggering threshold as evidence of several competing processes with different time constants, the faster one(s) facilitating failure and the other(s) inhibiting it. Such competition is a common feature of theories of slip instability. All these results, not surprisingly, imply that to understand earthquake triggering one must consider not only simple failure criteria requiring exceedence of some constant threshold but also the requirements for generating instabilities.

Stress/strain changes and triggered seismicity at The Geysers, California

Science.gov (United States)

Gomberg, J.; Davis, S.

1996-01-01

The principal results of this study of remotely triggered seismicity in The Geysers geothermal field are the demonstration that triggering (initiation of earthquake failure) depends on a critical strain threshold and that the threshold level increases with decreasing frequency or equivalently, depends on strain rate. This threshold function derives from (1) analyses of dynamic strains associated with surface waves of the triggering earthquakes, (2) statistically measured aftershock zone dimensions, and (3) analytic functional representations of strains associated with power production and tides. The threshold is also consistent with triggering by static strain changes and implies that both static and dynamic strains may cause aftershocks. The observation that triggered seismicity probably occurs in addition to background activity also provides an important constraint on the triggering process. Assuming the physical processes underlying earthquake nucleation to be the same, Gomberg [this issue] discusses seismicity triggered by the MW 7.3 Landers earthquake, its constraints on the variability of triggering thresholds with site, and the implications of time delays between triggering and triggered earthquakes. Our results enable us to reject the hypothesis that dynamic strains simply nudge prestressed faults over a Coulomb failure threshold sooner than they would have otherwise. We interpret the rate-dependent triggering threshold as evidence of several competing processes with different time constants, the faster one(s) facilitating failure and the other(s) inhibiting it. Such competition is a common feature of theories of slip instability. All these results, not surprisingly, imply that to understand earthquake triggering one must consider not only simple failure criteria requiring exceedence of some constant threshold but also the requirements for generating instabilities.

Delivered Pricing, FOB Pricing, and Collusion in Spatial Markets

OpenAIRE

Maria Paz Espinosa

1992-01-01

This article examines price discrimination and collusion in spatial markets. The problem is analyzed in the context of a repeated duopoly game. I conclude that the prevailing pricing systems depend on the structural elements of the market. Delivered pricing systems emerge in equilibrium in highly monopolistic and highly competitive industries, while FOB is used in intermediate market structures. The fact driving this result is that delivered pricing policies allow spatial price discrimination...

A first-level calorimeter trigger for the ATLAS experiment

International Nuclear Information System (INIS)

Perera, V.; Edwards, J.; Gee, N.

1995-01-01

In the RD27 collaboration the authors have carried out system studies on the implementation of the first level calorimeter trigger processor system for the ATLAS experiment to be mounted at the Large Hadron Collider (LHC) at CERN. A demonstrator trigger system operated successfully with the RD3 and RD33 calorimeters at the full 40 MHz LHC bunch crossing (BC) rate. The prototype application-specific integrated circuits (ASICs) in this system each processed data from only a single trigger cell and its environment, which would lead to an extremely large system for ATLAS. Using eight-bit parallel data even the use of ASICs, processing multiple trigger cells would demand unacceptably large numbers of input pins and module connections. Initial studies of this I/O problem produced a solution based on asynchronous transmission of zero-suppressed and BC-tagged data on 160 Mbit/s serial links. This approach appeared to be feasible but would have introduced additional latency of about 20 BCs. Further studies have led to the design of a fully-synchronous calorimeter trigger processor system using commercial high-speed optical links. The links will terminate in multi-chip modules (MCMs) incorporating custom-designed integrated optics, and the trigger algorithms will be implemented in ASICs

Optimal Pricing Strategies for New Products in Dynamic Oligopolies

OpenAIRE

Engelbert Dockner; Steffen Jørgensen

1988-01-01

This paper deals with the determination of optimal pricing policies for firms in oligopolistic markets. The problem is studied as a differential game and optimal pricing policies are established as Nash open-loop controls. Cost learning effects are assumed such that unit costs are decreasing with cumulative output. Discounting of future profits is also taken into consideration. Initially, the problem is addressed in a general framework, and we proceed to study some specific cases that are rel...

Producers post increase as prices plumb new depths

International Nuclear Information System (INIS)

Young, I.

1993-01-01

European polypropylene (PP) producers are gearing up for yet another attempt to raise prices and stem their losses. Despite a string of pricing initiatives throughout 1992, the oversupplied PP market continued to sink. It slipped again in January, with many producers accusing their competitors of price cutting to raise sales volumes. The difference this time is that all the major players have stated their readiness to hike prices, while output has been cut back considerably to reduce stocks. Sentiment in the market is that prices simply cannot be allowed to go any lower. Neste Chemicals (Helsinki) has led the way by announcing a 40-pfennig/kg increase, effective March 1. Sven Svensson, Neste's v.p./PP, says the increase was announced early to allow converters to adjust the prices of their products. Huels (Marl, Germany) has since announced a 30 pfennig-40 pfennig/kg hike for February or March, Hoechst (Frankfurt) says it will go for a similar increase March 1, Amoco Chemical Europe (Geneva) has promised a hike effective February 1, while Himont (Milan) and Brussels-based Petrofina and Solvay confirm they will also be raising prices. There could be a greater sense of urgency now that propylene contracts have been raised for February. The lowest PP price so far reported in Europe has been BF12.50/kg (DM0.61/kg) for raffia-grade material in Belgium. The French market is about F2.20/kg; the UK at Brit-pounds 290/m.t.; German prices are slightly firmer at DM0.70/kg, with injection molding at about DM0.75/kg. PP copolymer prices have fallen precipitously since early December, with German levels dropping by 20 pfennig/kg, to about DM0.90/kg

Pricing and Trust

DEFF Research Database (Denmark)

Huck, Steffen; Ruchala, Gabriele K.; Tyran, Jean-Robert

-competitive (monopolistic) markets. We then introduce a regulated intermediate price above the oligopoly price and below the monopoly price. The effect in monopolies is more or less in line with standard intuition. As price falls volume increases and so does quality, such that overall efficiency is raised by 50%. However......We experimentally examine the effects of flexible and fixed prices in markets for experience goods in which demand is driven by trust. With flexible prices, we observe low prices and high quality in competitive (oligopolistic) markets, and high prices coupled with low quality in non...

Distributor pricing approaches enabled in Smart Grid to differentiate delivery service quality

Directory of Open Access Journals (Sweden)

Zhongwei Jake Zhang

2014-12-01

Full Text Available Industry practitioners who advocate retail competition and Demand-side Participation now look for approaches to link both initiatives through distributor pricing. As distributors incrementally convert more traditional assets into Smart Grid assets, they also need to consider different pricing approaches to recover the investment costs and meet the regulatory business requirements. Small electricity consumers need incentives to take part in these initiatives but their delivery service quality should also be closely guarded. Hence this paper addresses the above needs as a whole and investigates a set of distributor pricing approaches with Smart Grid technologies. Pricing of network and non-network based solutions should follow the incremental basis, such as the long run average incremental cost (LRAIC. The benefit of deferring network investment is calculated and should be passed to consumers as peak pricing rebate. A concept of reliability premium (RP based on load point reliability index is proposed, through which customers can express their preference of service quality and adjust their network tariff payment accordingly. A service delivery model is also proposed to utilize the savings from wholesale market trading to compensate for the downgraded service when loads are controlled. The IEEE 123-node distribution test feeder and the IEEE distribution system for RBTS Bus No. 2 are simulated, and solved using General Algebraic Modeling System (GAMS to demonstrate the proposed distributor pricing approaches in Smart Grid.

Dynamic cyclical comovements of oil prices with industrial production, consumer prices, unemployment, and stock prices

International Nuclear Information System (INIS)

Ewing, Bradley T.; Thompson, Mark A.

2007-01-01

This paper examines the empirical relationship between oil prices and several key macroeconomic variables. In particular, we investigate the cyclical comovements of crude oil prices with output, consumer prices, unemployment, and stock prices. The methodology involves the use of the Hodrick-Prescott [Hodrick, R.J., Prescott, E.C., 1980. Post-War US Business Cycles: An Empirical Investigation. Working Paper, Carnegie Mellon University] and Baxter-King [Baxter, M., King, R.G., 1999. Measuring business cycles: approximate band-pass filters for economic time series. Review of Economics and Statistics 81, 575-593] filters, as well as the recently developed full-sample asymmetric Christiano-Fitzgerald [Christiano, L.J., Fitzgerald, T.J., 2003. The band pass filter. International Economic Review 44, 435-465] band-pass filter. Contemporaneous and cross-correlation estimates are made using the stationary cyclical components of the time series to make inference about the degree to which oil prices move with the cycle. Besides documenting a number of important cyclical relationships using three different time series filtering methods, the results suggest that crude oil prices are procyclical and lag industrial production. Additionally, we find that oil prices lead consumer prices. (author)

Energy prices and agricultural commodity prices: Testing correlation using copulas method

International Nuclear Information System (INIS)

Koirala, Krishna H.; Mishra, Ashok K.; D'Antoni, Jeremy M.; Mehlhorn, Joey E.

2015-01-01

The linear relationships between energy prices and prices for agricultural commodities such as corn and soybeans may have been affected, over the last several years, by policy legislations in the farm sector, the Energy Independence and Security Act of 2007, and the Renewable Fuel Standard Program for 2014. Using high-frequency data and newer methodology, this study investigates dependence between agricultural commodity futures prices and energy futures prices. Results reveal that agricultural commodity and energy future prices are highly correlated and exhibit positive and significant relationship. Findings from this study highlight that an increase in energy price increases the price of agricultural commodities. - Highlights: • Energy policy mandates production of 15 billion gallons of corn ethanol by 2015. • Energy-intensive agriculture has a link between energy sector and crop production costs. • We investigate correlation between energy prices and agricultural commodity prices. • Agricultural commodity and energy future prices are highly correlated. • Increase in energy price increases the price of agricultural commodity

Impact of European pharmaceutical price regulation on generic price competition: a review.

Science.gov (United States)

Puig-Junoy, Jaume

2010-01-01

Although economic theory indicates that it should not be necessary to intervene in the generic drug market through price regulation, most EU countries intervene in this market, both by regulating the maximum sale price of generics (price cap) and by setting the maximum reimbursement rate, especially by means of reference pricing systems. We analyse current knowledge of the impact of direct price-cap regulation of generic drugs and the implementation of systems regulating the reimbursement rate, particularly through reference pricing and similar tools, on dynamic price competition between generic competitors in Europe. A literature search was carried out in the EconLit and PubMed databases, and on Google Scholar. The search included papers published in English or Spanish between January 2000 and July 2009. Inclusion criteria included that studies had to present empirical results of a quantitative nature for EU countries of the impact of price capping and/or regulation of the reimbursement rate (reference pricing or similar systems) on price dynamics, corresponding to pharmacy sales, in the generic drug market. The available evidence indicates that price-cap regulation leads to a levelling off of generic prices at a higher level than would occur in the absence of this regulation. Reference pricing systems cause an obvious and almost compulsory reduction in the consumer price of all pharmaceuticals subject to this system, to a varying degree in different countries and periods, the reduction being greater for originator-branded drugs than for generics. In several countries with a reference pricing system, it was observed that generics with a consumer price lower than the reference price do not undergo price reductions until the reference price is reduced, even when there are other lower-priced generics on the market (absence of price competition below the reference price). Beyond the price reduction forced by the price-cap and/or reference pricing regulation itself

Understanding Price Controls and Non-Price Competition with Matching Theory

OpenAIRE

Hatfield, John William; Plott, Charles R.; Tanaka, Tomomi

2012-01-01

We develop a quality competition model to understand how price controls affect market outcomes in buyer-seller markets with discrete goods of varying quality. While competitive equilibria do not necessarily exist in such markets when price controls are imposed, we show that stable outcomes do exist and characterize the set of stable outcomes in the presence of price restrictions. In particular, we show that price controls induce non-price competition: price floors induce the trade of ineffici...

Negotiating transfer pricing using the Nash bargaining solution

Directory of Open Access Journals (Sweden)

Clempner Julio B.

2017-12-01

Full Text Available This paper analyzes and proposes a solution to the transfer pricing problem from the point of view of the Nash bargaining game theory approach. We consider a firm consisting of several divisions with sequential transfers, in which central management provides a transfer price decision that enables maximization of operating profits. Price transferring between divisions is negotiable throughout the bargaining approach. Initially, we consider a disagreement point (status quo between the divisions of the firm, which plays the role of a deterrent. We propose a framework and a method based on the Nash equilibrium approach for computing the disagreement point. Then, we introduce a bargaining solution, which is a single-valued function that selects an outcome from the feasible pay-offs for each bargaining problem that is a result of cooperation of the divisions of the firm involved in the transfer pricing problem. The agreement reached by the divisions in the game is the most preferred alternative within the set of feasible outcomes, which produces a profit-maximizing allocation of the transfer price between divisions. For computing the bargaining solution, we propose an optimization method. An example illustrating the usefulness of the method is presented.

Separated influence of crude oil prices on regional natural gas import prices

International Nuclear Information System (INIS)

Ji, Qiang; Geng, Jiang-Bo; Fan, Ying

2014-01-01

This paper analyses the impact of global economic activity and international crude oil prices on natural gas import prices in three major natural gas markets using the panel cointegration model. It also investigates the shock impacts of the volatility and the increase and decrease of oil prices on regional natural gas import prices. The results show that both global economic activity and international crude oil prices have significant long-term positive effects on regional natural gas import prices. The volatility of international crude oil prices has a negative impact on regional natural gas import prices. The shock impact is weak in North America, lags in Europe and is most significant in Asia, which is mainly determined by different regional policies for price formation. In addition, the response of natural gas import prices to increases and decreases in international crude oil prices shows an asymmetrical mechanism, of which the decrease impact is relatively stronger. - Highlights: • Impacts of world economy and oil prices on regional natural gas prices are analysed • North American natural gas prices are mainly affected by world economy • Asian and European natural gas prices are mainly affected by oil prices • The volatility of oil prices has a negative impact on regional natural gas prices • The response of natural gas import prices to oil prices up and down shows asymmetry

The LHCb trigger

International Nuclear Information System (INIS)

Korolko, I.

1998-01-01

This paper describes progress in the development of the LHCb trigger system since the letter of intent. The trigger philosophy has significantly changed, resulting in an increase of trigger efficiency for signal B events. It is proposed to implement a level-1 vertex topology trigger in specialised hardware. (orig.)

TRIGGER

CERN Multimedia

W. Smith

At the December meeting, the CMS trigger group reported on progress in production, tests in the Electronics Integration Center (EIC) in Prevessin 904, progress on trigger installation in the underground counting room at point 5, USC55, and results from the Magnet Test and Cosmic Challenge (MTCC) phase II. The trigger group is engaged in the final stages of production testing, systems integration, and software and firmware development. Most systems are delivering final tested electronics to CERN. The installation in USC55 is underway and moving towards integration testing. A program of orderly connection and checkout with subsystems and central systems has been developed. This program includes a series of vertical subsystem slice tests providing validation of a portion of each subsystem from front-end electronics through the trigger and DAQ to data captured and stored. This is combined with operations and testing without beam that will continue until startup. The plans for start-up, pilot and early running tri...

Price performance following stock's IPO in different price limit systems

Science.gov (United States)

Wu, Ting; Wang, Yue; Li, Ming-Xia

2018-01-01

An IPO burst occurred in China's stock markets in 2015, while price limit trading rules usually help to reduce the short-term trading mania on individual stocks. It is interesting to make clear the function of the price limits after IPOs. We firstly make a statistical analysis based on all the IPO stocks listed from 1990 to 2015. A high dependency exists between the activities in stock's IPO and various market environment. We also focus on the price dynamics in the first 40 trading days after the stock listed. We find that price limit system will delay the price movement, especially for the up-trend movements, which may lead to longer continuous price limit hits. Similar to our previous work, many results such as ;W; shape can be also observed in the future daily return after the price limit open. At last, we find most IPO measures show evident correlations with the following price limit hits. IPO stocks with lower first-day turnover and earning per share will be followed with a longer continuous price limit hits and lower future daily return under the newest trading rules, which give us a good way to estimate the occurrence of price limit hits and the following price dynamics. Our analysis provides a better understanding of the price dynamics after IPO events and offers potential practical values for investors.

Joint Ordering and Pricing Decisions for New Repeat-Purchase Products

Directory of Open Access Journals (Sweden)

Xiang Wu

2015-01-01

Full Text Available This paper studies ordering and pricing problems for new repeat-purchase products. We incorporate the repeat-purchase rate and price effects into the Bass model to characterize the demand pattern. We consider two decision models: (1 two-stage decision model, in which the sales division chooses a price to maximize the gross profit and the purchasing division determines an optimal ordering decision to minimize the total cost under a given demand subsequently, and (2 joint decision model, in which the firm makes ordering and pricing decisions simultaneously to maximize the profit. We combine the generalized Bass model with dynamic lot sizing model to formulate the joint decision model. We apply both models to a specific imported food provided by an online fresh produce retailer in Central China, solve them by Gaussian Random-Walk and Wagner-Whitin based algorithms, and observe three results. First, joint pricing and ordering decisions bring more significant profits than making pricing and ordering decisions sequentially. Second, a great initiative in adoption significantly increases price premium and profit. Finally, the optimal price shows a U-shape (i.e., decreases first and increases later relationship and the profit increases gradually with the repeat-purchase rate when it is still not very high.

Estimating the commodity market price of risk for energy prices

International Nuclear Information System (INIS)

Kolos, Sergey P.; Ronn, Ehud I.

2008-01-01

The purpose of this paper is to estimate the ''market price of risk'' (MPR) for energy commodities, the ratio of expected return to standard deviation. The MPR sign determines whether energy forward prices are upward- or downward-biased predictors of expected spot prices. We estimate MPRs using spot and futures prices, while accounting for the Samuelson effect. We find long-term MPRs generally positive and short-term negative, consistent with positive energy betas and hedging, respectively. In spot electricity markets, MPRs in Day-Ahead Prices agree with short-dated futures. Our results relate risk premia to informed hedging decisions, and futures prices to forecast/expected prices. (author)

Oil price and food price volatility dynamics: The case of Nigeria

Directory of Open Access Journals (Sweden)

Ijeoma C. Nwoko

2016-12-01

Full Text Available This study examines the long and short run relationships between oil price and food price volatility as well as the causal link between them. The study used annual food price volatility index from FAO from 2000 to 2013 and crude oil price from U.S. Energy Information and Administration (EIA from 2000 to 2013. The Johansen and Jesulius co-integration test revealed that there is a long run relationship between oil price and domestic food price volatility. The vector error correction model indicated a positive and significant short run relationship between oil price and food price volatility. The Granger causality test revealed a unidirectional causality with causality running from oil price to food price volatility but not vice versa. It is recommended that policies and interventions that will help reduce uncertainty about food prices such as improved market information, trade policies and investment in research and development among others should be encouraged. Also to reduce the effect of oil price shock, it is recommended that government should subsidise pump price of refined oil, seek alternative sources of energy and there should be less dependence on oil for fertilizer production.

Study of Tectonic Tremor in Depth: Triggering Stress Observation and Model of the Triggering Mechanism

Science.gov (United States)

Wang, Tien-Huei

including NVT occur on these sections have slower slip rates than that of the general earthquakes (Rubin, 2008; Ide, 2008). In Azna region, we use envelope and waveform cross-correlation to detect tremor. We investigate the stress required to trigger tremor and tremor spectrum using continuous broadband seismograms from 11 stations located near Anza, California. We examine 44 Mw≥7.4 teleseismic events between 2001 and 2011, in addition to one regional earthquake of smaller-magnitude, the 2009 Mw 6.5 Gulf of California earthquake, because it induced extremely high strain at Anza. The result suggests that not only the amplitude of the induced strain, but also the period of the incoming surface wave, may control triggering of tremor near Anza. In addition, we find that the transient-shear stress (17--35 kPa) required to trigger tremor along the SJF at Anza is distinctly higher than what has been reported for the well-studied SAF (Gulihem et al. 2010). We model slip initiation using the analytical solution of rate-and-state friction. We verify the correctness of this method by comparing the results with that from the dynamic model, implemented using the Multi-Dimensional Spectral Boundary Integral Code (MDSBI) written by Eric M. Dunham from Sanford University. We find that the analytical result is consistent with that of the dynamic model. We set up a patch model with which the source stress and frictional conditions best resemble the current estimates of the tremor source. The frictional regime of this patch is rate-weakening. The initial normal and shear stress, and friction parameters are suggested by previous observations of tectonic tremors both in this and other studies (Brown et al., 2005; Shelly et al., 2006; Miyazawa, 2008; Ben-Zion, 2012). Our dynamic loading first consists of simple harmonic stress change with fixed periods, simplifying the transient stress history to resemble teleseismic earthquakes. We tested the period and amplitude of such periodic loading. We

The unavoidable increase in electricity prices in France: should the effects of the European market integration be corrected?

International Nuclear Information System (INIS)

Finon, D.; Glachant, J.M.

2008-01-01

The competitive reform will unavoidably generate a price increase for French consumers when the regulated price is removed. That increase is due to the competitive hourly rate formation system in the continental market. The system allows existing nuclear equipment of all European producers to generate a rarity income, without this triggering nuclear investment decisions due to political obstacles. The sacrifice of French consumers does not imply later price decreases failing such investments. The benefit sought by the integration of the market for European consumer benefit cannot be achieved. The rarity income from existing equipment only benefits the shareholders of companies holding existing low combustible cost equipment, including the historical French operator. This article details this nuclear rarity income analysis and reviews several compensation approaches to reconcile French consumers with the construction dynamics of a competitive European market. Such re-allotment systems need to be both simple and perceived as a compensation for potential price increase, and not alter drastically the operation of the new markets. (authors)

Communication between Trigger/DAQ and DCS in ATLAS

International Nuclear Information System (INIS)

Burckhart, H.; Jones, R.; Hart, R.; Khomoutnikov, V.; Ryabov, Y.

2001-01-01

Within the ATLAS experiment Trigger/DAQ and DCS are both logically and physically separated. Nevertheless there is a need to communicate. The initial problem definition and analysis suggested three subsystems the Trigger/DAQ DCS Communication (DDC) project should support the ability to: 1. exchange data between Trigger/DAQ and DCS; 2. send alarm messages from DCS to Trigger/DAQ; 3. issue commands to DCS from Trigger/DAQ. Each subsystem is developed and implemented independently using a common software infrastructure. Among the various subsystems of the ATLAS Trigger/DAQ the Online is responsible for the control and configuration. It is the glue connecting the different systems such as data flow, level 1 and high-level triggers. The DDC uses the various Online components as an interface point on the Trigger/DAQ side with the PVSS II SCADA system on the DCS side and addresses issues such as partitioning, time stamps, event numbers, hierarchy, authorization and security. PVSS II is a commercial product chosen by CERN to be the SCADA system for all LHC experiments. Its API provides full access to its database, which is sufficient to implement the 3 subsystems of the DDC software. The DDC project adopted the Online Software Process, which recommends a basic software life-cycle: problem statement, analysis, design, implementation and testing. Each phase results in a corresponding document or in the case of the implementation and testing, a piece of code. Inspection and review take a major role in the Online software process. The DDC documents have been inspected to detect flaws and resulted in a improved quality. A first prototype of the DDC is ready and foreseen to be used at the test-beam during summer 2001

Why do stumpage prices increase more than lumber prices?

Science.gov (United States)

William G. Luppold; John E. Baumgras; John E. Baumgras

1998-01-01

Every sawmiller who has been in business more than 5 years realizes that hardwood stumpage prices tend to increase faster than lumber prices, decreasing the margin between these two prices. Although increases in stumpage versus lumber prices are readily apparent, the reason for the decrease in the margin is not. Recent research findings indicate that the stumpage/...

A Comparative Anatomy of Oil Price Routs: A Review of Four Price Routs between 1985 and 2014

Directory of Open Access Journals (Sweden)

Robert Skinner

2015-11-01

Full Text Available With layoffs and cutbacks in the oilpatch and the ripple effects spreading out through Canada’s economy, it may seem as though the latest drop in oil prices could stall the economic engine in Alberta for a long time. This paper argues, however, that the current rout is unlike the other three major ones (when the price of oil dropped 60 per cent or more experienced in the last 30 years. The factors affecting the oil price drop and its potential for rebound differ significantly. The routs of 2008 and 1997 were mostly demand-driven, triggered by credit crises in key markets. Both 2014 and 1985 started as demand-driven, too, but significantly, they changed to supply-driven crashes. There, however, the similarities end between today and 30 years ago. Fears that we may be in for a long-term rout, similar to that of 1985, which lasted more than a decade, may be allayed by examining the very different circumstances surrounding the contemporary situation. Given an uninspiring macroeconomic outlook, a supply-side solution will be imperative. A critical difference lies in the security of spare productive capacity. In 1985, OPEC’s spare capacity approached twenty per cent of world demand. Today, it is closer to two per cent. Moreover, today’s producer of the disruptive non-OPEC barrels in the shale oil industry in particular is far more reliant on external financing than were companies developing, for example, the North Sea 30 years ago. Then, with much higher prime rates, firms largely self-generated their financing. In addition, there was considerable room for cost-cutting, enabling increased production and therefore prolongation of the crash. If any silver lining can be found in the roiling storm clouds of the current rout, it is that the pendulum could swing sharply back by decade’s end. Natural production declines in old fields and investment cutbacks and cancellations around the world will eventually register in market balances once record

A queueing theory description of fat-tailed price returns in imperfect financial markets

Science.gov (United States)

Lamba, H.

2010-09-01

In a financial market, for agents with long investment horizons or at times of severe market stress, it is often changes in the asset price that act as the trigger for transactions or shifts in investment position. This suggests the use of price thresholds to simulate agent behavior over much longer timescales than are currently used in models of order-books. We show that many phenomena, routinely ignored in efficient market theory, can be systematically introduced into an otherwise efficient market, resulting in models that robustly replicate the most important stylized facts. We then demonstrate a close link between such threshold models and queueing theory, with large price changes corresponding to the busy periods of a single-server queue. The distribution of the busy periods is known to have excess kurtosis and non-exponential decay under various assumptions on the queue parameters. Such an approach may prove useful in the development of mathematical models for rapid deleveraging and panics in financial markets, and the stress-testing of financial institutions.

The Effects of Price Stabilization on Short-Term Returns of IPOs

Directory of Open Access Journals (Sweden)

Douglas Beserra Pinheiro

2011-12-01

Full Text Available During the price stabilization in IPOs the underwriter repurchases part of the issue (ASC for aftermarket short covering. Such activity raises question about its real purpose: to keep price artificially high and deceive investors, or avoid price fluctuation resulting from the initial flow of information and the action of flippers. Our analysis indicates that in the post stabilization period stabilized IPOs underperform non-stabilized ones; the higher the intensity of the stabilization the lower are post-stabilization returns; IPOs for which the overallotment is fully covered in the ASC underperform non-stabilized IPOs in the post-stabilization period; the same does not happen when the ASC is only partial. Therefore, both views of the stabilization process are partially right: in some cases, stabilization is used to avoid price volatility and in other cases to keep price artificially high.

Option pricing: Stock price, stock velocity and the acceleration Lagrangian

Science.gov (United States)

Baaquie, Belal E.; Du, Xin; Bhanap, Jitendra

2014-12-01

The industry standard Black-Scholes option pricing formula is based on the current value of the underlying security and other fixed parameters of the model. The Black-Scholes formula, with a fixed volatility, cannot match the market's option price; instead, it has come to be used as a formula for generating the option price, once the so called implied volatility of the option is provided as additional input. The implied volatility not only is an entire surface, depending on the strike price and maturity of the option, but also depends on calendar time, changing from day to day. The point of view adopted in this paper is that the instantaneous rate of return of the security carries part of the information that is provided by implied volatility, and with a few (time-independent) parameters required for a complete pricing formula. An option pricing formula is developed that is based on knowing the value of both the current price and rate of return of the underlying security which in physics is called velocity. Using an acceleration Lagrangian model based on the formalism of quantum mathematics, we derive the pricing formula for European call options. The implied volatility of the market can be generated by our pricing formula. Our option price is applied to foreign exchange rates and equities and the accuracy is compared with Black-Scholes pricing formula and with the market price.

On the conditions for nonlinear growth in magnetospheric chorus and triggered emissions

Science.gov (United States)

Gołkowski, Mark; Gibby, Andrew R.

2017-09-01

The nonlinear whistler mode instability associated with magnetospheric chorus and VLF triggered emissions continues to be poorly understood. Following up on formulations of other authors, an analytical exploration of the stability of the phenomenon from a new vantage point is given. This exploration derives an additional requirement on the anisotropy of the energetic electron distribution relative to the linear treatment of the instability, and shows that the nonlinear instability is most favorable to increasing growth rate when electrons become initially trapped in the wave potential of a constant frequency wave. These results imply that the initiation of the nonlinear instability at the equator requires a positive frequency sweep rate, while the initiation of the instability by a constant frequency triggering wave must occur at a location downstream of the geomagnetic equator.

Consistent Estimation of Pricing Kernels from Noisy Price Data

OpenAIRE

Vladislav Kargin

2003-01-01

If pricing kernels are assumed non-negative then the inverse problem of finding the pricing kernel is well-posed. The constrained least squares method provides a consistent estimate of the pricing kernel. When the data are limited, a new method is suggested: relaxed maximization of the relative entropy. This estimator is also consistent. Keywords: $\\epsilon$-entropy, non-parametric estimation, pricing kernel, inverse problems.

BAT Triggering Performance

Science.gov (United States)

McLean, Kassandra M.; Fenimore, E. E.; Palmer, D. M.; BAT Team

2006-09-01

The Burst Alert Telescope (BAT) onboard Swift has detected and located about 160 gamma-ray bursts (GRBs) in its first twenty months of operation. BAT employs two triggering systems to find GRBs: image triggering, which looks for a new point source in the field of view, and rate triggering, which looks for a significant increase in the observed counts. The image triggering system looks at 1 minute, 5 minute, and full pointing accumulations of counts in the detector plane in the energy range of 15-50 keV, with about 50 evaluations per pointing (about 40 minutes). The rate triggering system looks through 13 different time scales (from 4ms to 32s), 4 overlapping energy bins (covering 15-350 keV), 9 regions of the detector plane (from the full plane to individual quarters), and two background sampling models to search for GRBs. It evaluates 27000 trigger criteria in a second, for close to 1000 criteria. The image triggering system looks at 1, 5, and 40 minute accumulations of counts in the detector plane in the energy range of 15-50 keV. Both triggering systems are working very well with the settings from before launch and after we turned on BAT. However, we now have more than a year and a half of data to evaluate these triggering systems and tweak them for optimal performance, as well as lessons learned from these triggering systems.

An Overview of the ATLAS High Level Trigger Dataflow and Supervision

CERN Document Server

Wheeler, S; Baines, J T M; Bee, C P; Biglietti, M; Bogaerts, A; Boisvert, V; Bosman, M; Brandt, S; Caron, B; Casado, M P; Cataldi, G; Cavalli, D; Cervetto, M; Comune, G; Corso-Radu, A; Di Mattia, A; Díaz-Gómez, M; Dos Anjos, A; Drohan, J; Ellis, Nick; Elsing, M; Epp, B; Etienne, F; Falciano, S; Farilla, A; George, S; Ghete, V M; González, S; Grothe, M; Kaczmarska, A; Karr, K M; Khomich, A; Konstantinidis, N P; Krasny, W; Li, W; Lowe, A; Luminari, L; Meessen, C; Mello, A G; Merino, G; Morettini, P; Moyse, E; Nairz, A; Negri, A; Nikitin, N V; Nisati, A; Padilla, C; Parodi, F; Pérez-Réale, V; Pinfold, J L; Pinto, P; Polesello, G; Qian, Z; Resconi, S; Rosati, S; Scannicchio, D A; Schiavi, C; Schörner-Sadenius, T; Segura, E; De Seixas, J M; Shears, T G; Sivoklokov, S Yu; Smizanska, M; Soluk, R A; Stanescu, C; Tapprogge, Stefan; Touchard, F; Vercesi, V; Watson, A; Wengler, T; Werner, P; Wickens, F J; Wiedenmann, W; Wielers, M; Zobernig, G; RT 2003 13th IEEE-NPSS Real Time Conference

2004-01-01

The ATLAS High Level Trigger (HLT) system provides software-based event selection after the initial LVL1 hardware trigger. It is composed of two stages, the LVL2 trigger and the Event Filter (EF). The LVL2 trigger performs event selection with optimized algorithms using selected data guided by Region of Interest pointers provided by the LVL1 trigger. Those events selected by LVL2, are built into complete events, which are passed to the EF for a further stage of event selection and classification using off-line algorithms. Events surviving the EF selection are passed for off-line storage. The two stages of HLT are implemented on processor farms. The concept of distributing the selection process between LVL2 and EF is a key element in the architecture, which allows it to be flexible to changes (luminosity, detector knowledge, background conditions etc.) Although there are some differences in the requirements between these sub-systems there are many commonalities. An overview of the dataflow (event selection) an...

48 CFR 216.203 - Fixed-price contracts with economic price adjustment.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Fixed-price contracts with economic price adjustment. 216.203 Section 216.203 Federal Acquisition Regulations System DEFENSE... CONTRACTS Fixed-Price Contracts 216.203 Fixed-price contracts with economic price adjustment. ...

Research on the pricing system of online nuclear power

International Nuclear Information System (INIS)

Xu Dan

2010-01-01

National Development and Reform Commission Issues 'Long-term Nuclear Power Development Plan (2005-2020)' in October, 2007. It is the milestone for great development of the nuclear power plant. By the end of the first half of 2009, the nuclear power companies, mainly leading by CNNC and CGNPC, are busy in expanding the new project investment scale of the nuclear power. They gradually initialize the enormous nuclear investment in Zhejiang, Liaoning, Shandong, Guangxi Province and some other place. Along with the development of the nuclear plant and the reformation of the electricity price, the online electricity price of the nuclear power plant will likely be revised. How long will the price policy of 'One to one price' for each type of plant be hold? How will the online electricity price be set in the future? What kind of theories will be followed in the new pricing policy? And what kind of influence will it have on the operating and constructing nuclear power plants? All these will be the problem to the nuclear power plant. There are a lot of uncertainties in front of the nuclear power enterprise in the future. The article analyzes the cost structure of the nuclear power enterprise. Based on the price theory of the market economy, and after benchmarking with the coal power and some other industries, the article studies the future pricing policy of the nuclear power enterprise. And the article analyzes the future management risk of the nuclear power enterprise after the pricing policy reformation. And through the management improvement, the nuclear power company could response effectively to the price regulation, and minimize the uncertainty caused by the pricing policy reformation to the enterprise operation and management. (author)

Smart Environmental Policy with Full-Cost Pricing

Directory of Open Access Journals (Sweden)

Nancy Olewiler

2012-03-01

Full Text Available Canada’s natural capital — its resources, ecosystems and wildlife — are indispensable to the productivity of industry. Despite this, both the public and private sectors have failed to adequately factor in the consequences of production and consumption on the natural environment. There is a growing need for full-cost pricing, a system that adjusts market prices to reflect not only the direct costs of good and services, but also their impact on this country’s natural capital. As this paper argues, the onus is on the federal government to create the conditions for full-cost pricing to succeed. Ottawa needs to eliminate energy subsidies (to producers and consumers, implement full-cost pricing on air contaminants and greenhouse gases and encourage projects at the provincial and municipal levels that adopt that methodology. The benefits include productivity gains; potentially billions in savings for consumers, businesses and governments; a strong environment supporting sustainable industries; and simplified tax systems. In surveying past and existing federal initiatives and missed opportunities in previous budgets, this paper assesses costs and consequences, arguing that a healthy environment is synonymous with a healthy economy, and providing hard data to back up that conviction. With Budget 2012 just around the corner, the time is ripe for the Harper government to introduce full-cost pricing, and guarantee Canada a brighter future.

Report of the work-group on oil price volatility

International Nuclear Information System (INIS)

2010-01-01

This report proposes a detailed analysis of the past and possible evolution of oil markets in terms of price volatility, financial strategies and pricing. It discusses current reflections and actions aiming at improving oil market operation: the Joint Oil Data Initiative or JODI for oil data transparency, the works of the International Energy Forum (IEF), and the conceivable reforms of the oil financial markets. Then, it proposes and discusses four main strategic orientations for a better knowledge of oil markets by France and the improvement of their operation and transparency: to support IEF initiatives, to apply to oil financial markets the global orientations defined by the G20, to set additional specific rules, and to propose a true oil strategy for the European Union. These orientations are then broken up in 22 propositions

Price Regulations in a Multi-unit Uniform Price Auction

DEFF Research Database (Denmark)

Boom, Anette

not exceed the price cap whereas a selective bid cap for only the larger firms, does not guarantee this outcome. A sufficiently high bid floor always destroys pure strategy equilibria with equilibrium prices above the marginal costs, no matter whether the floor applies to all or only to relatively small......Inspired by recent regulations in the New York ICAP market we examine the effect of different price regulations on a multi-unit uniform price auction. We investigate a bid cap and a bid foor. Given suffciently high total capacities general bid caps always ensure that the market price does...

Price Regulations in a Multi-unit Uniform Price Auction

DEFF Research Database (Denmark)

Boom, Anette

Inspired by recent regulations in the New York ICAP market we examine the effect of different price regulations on a multi-unit uniform price auction. We investigate a bid cap and a bid foor. Given suffciently high total capacities general bid caps always ensure that the market price does...... not exceed the price cap whereas a selective bid cap for only the larger firms, does not guarantee this outcome. A sufficiently high bid floor always destroys pure strategy equilibria with equilibrium prices above the marginal costs, no matter whether the floor applies to all or only to relatively small...

TRIGGER

CERN Multimedia

W. Smith

Level-1 Trigger Hardware The CERN group is working on the TTC system. Seven out of nine sub-detector TTC VME crates with all fibers cabled are installed in USC55. 17 Local Trigger Controller (LTC) boards have been received from production and are in the process of being tested. The RF2TTC module replacing the TTCmi machine interface has been delivered and will replace the TTCci module used to mimic the LHC clock. 11 out of 12 crates housing the barrel ECAL off-detector electronics have been installed in USC55 after commissioning at the Electronics Integration Centre in building 904. The cabling to the Regional Calorimeter Trigger (RCT) is terminated. The Lisbon group has completed the Synchronization and Link mezzanine board (SLB) production. The Palaiseau group has fully tested and installed 33 out of 40 Trigger Concentrator Cards (TCC). The seven remaining boards are being remade. The barrel TCC boards have been tested at the H4 test beam, and good agreement with emulator predictions were found. The cons...

48 CFR 3016.203 - Fixed price contracts with economic price adjustments.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 7 2010-10-01 2010-10-01 false Fixed price contracts with economic price adjustments. 3016.203 Section 3016.203 Federal Acquisition Regulations System DEPARTMENT OF... TYPES OF CONTRACTS Fixed-Price Contracts 3016.203 Fixed price contracts with economic price adjustments. ...

Mass and energy-capital conservation equations to study the price evolution of non-renewable energy resources. Part II-Extension to resources sold to the market

International Nuclear Information System (INIS)

Gori, F.

2006-01-01

The time evolution of the price of resources sold to the market and of the price difference, between sold and extracted resources, is investigated in case of no accumulation of the resources; i.e. when the resources are extracted and sold to the market at the same mass flow rate. The price evolution of sold resources varies with time according to the relation between the price increase factor, PIF, of sold and extracted resources. The price evolutions of sold resources and price difference are investigated according to the relation between extraction rate and interest rate of extracted and sold resources. The price of sold resources and the price difference increase with time if the PIF of sold resources is greater than the PIF of extracted resources and the initial price is greater than the critical price of sold resources, which depends on the initial price of extracted resources and the interest rate of non-extracted and extracted resources. The price of sold resources and the price difference decrease with time if the PIF of sold resources is greater than the PIF of extracted resources and the initial price is smaller than the critical price of sold resources. The other cases are discussed extensively in the paper. (author)

Exporter Price Premia?

DEFF Research Database (Denmark)

Jäkel, Ina Charlotte; Sørensen, Allan

This paper provides new evidence on manufacturing firms' output prices: in Denmark, on average, exported varieties are sold at a lower price (i.e. a negative exporter price premium) relative to only domestically sold varieties. This finding stands in sharp contrast to previous studies, which have...... found positive exporter price premia. We also document that the exporter price premium varies substantially across products (both in terms of sign and magnitude). We show that in a standard heterogeneous firms model with heterogeneity in quality as well as production efficiency there is indeed no clear......-cut prediction on the sign of the exporter price premium. However, the model unambiguously predicts a negative exporter price premium in terms of quality-adjusted prices, i.e. prices per unit of quality. This prediction is broadly borne out in the Danish data: while the magnitude of the premium varies across...

Beyond the sticker price: including and excluding time in comparing food prices.

Science.gov (United States)

Yang, Yanliang; Davis, George C; Muth, Mary K

2015-07-01

An ongoing debate in the literature is how to measure the price of food. Most analyses have not considered the value of time in measuring the price of food. Whether or not the value of time is included in measuring the price of a food may have important implications for classifying foods based on their relative cost. The purpose of this article is to compare prices that exclude time (time-exclusive price) with prices that include time (time-inclusive price) for 2 types of home foods: home foods using basic ingredients (home recipes) vs. home foods using more processed ingredients (processed recipes). The time-inclusive and time-exclusive prices are compared to determine whether the time-exclusive prices in isolation may mislead in drawing inferences regarding the relative prices of foods. We calculated the time-exclusive price and time-inclusive price of 100 home recipes and 143 processed recipes and then categorized them into 5 standard food groups: grains, proteins, vegetables, fruit, and dairy. We then examined the relation between the time-exclusive prices and the time-inclusive prices and dietary recommendations. For any food group, the processed food time-inclusive price was always less than the home recipe time-inclusive price, even if the processed food's time-exclusive price was more expensive. Time-inclusive prices for home recipes were especially higher for the more time-intensive food groups, such as grains, vegetables, and fruit, which are generally underconsumed relative to the guidelines. Focusing only on the sticker price of a food and ignoring the time cost may lead to different conclusions about relative prices and policy recommendations than when the time cost is included. © 2015 American Society for Nutrition.

Testing optimal punishment mechanisms under price regulation : the case of the retail market for gasoline

International Nuclear Information System (INIS)

Gagne, R.; Versaevel, B.

2003-01-01

The effects of a price floor on price wars in the retail market for gasoline were analyzed. The authors selected a theoretical model which assumed a Bertrand oligopoly supergame, where firms initially collude by charging the monopolistic price. Once a deviation from this strategy is detected by the firms, a switch to a lower price is made in what can be called a punishment phase (price war), before returning to collusive prices. A natural experiment for the testing of the model was provided by the introduction of a price floor regulation in the Quebec retail market for gasoline in 1996. A Markov Switching Model with two latent states was used to simultaneously identify the periods of price-collusion/price war, and also to estimate the parameters which characterized each state. The results indicated that the intensity of price wars was reduced by the introduction of the price floor, but the expected duration of those wars was raised. 14 refs., 5 tabs., 1 fig

Testing optimal punishment mechanisms under price regulation : the case of the retail market for gasoline

Energy Technology Data Exchange (ETDEWEB)

Gagne, R. [Montreal Univ., Quebec, PQ (Canada). Ecole des Hautes Etudes Commerciales; Van Norden, S. [Montreal Univ., Quebec, PQ (Canada). Ecole des Hautes Etudes Commerciales]|[Centre for Interuniversity Research and Analysis on Organizations, Montreal, PQ (Canada); Versaevel, B.

2003-09-01

The effects of a price floor on price wars in the retail market for gasoline were analyzed. The authors selected a theoretical model which assumed a Bertrand oligopoly supergame, where firms initially collude by charging the monopolistic price. Once a deviation from this strategy is detected by the firms, a switch to a lower price is made in what can be called a punishment phase (price war), before returning to collusive prices. A natural experiment for the testing of the model was provided by the introduction of a price floor regulation in the Quebec retail market for gasoline in 1996. A Markov Switching Model with two latent states was used to simultaneously identify the periods of price-collusion/price war, and also to estimate the parameters which characterized each state. The results indicated that the intensity of price wars was reduced by the introduction of the price floor, but the expected duration of those wars was raised. 14 refs., 5 tabs., 1 fig.

Price Recall, Bertrand Paradox and Price Dispersion With Elastic Demand

NARCIS (Netherlands)

Carvalho, M.

2009-01-01

This paper studies the consequence of an imprecise recall of the price by the consumers in the Bertrand price competition model for a homogeneous good. It is shown that firms can exploit this weakness and charge prices above the competitive price. This markup increases for rougher recall of the

Analyzing the effects of past prices on reference price formation

NARCIS (Netherlands)

R.D. van Oest (Rutger); R. Paap (Richard)

2004-01-01

textabstractWe propose a new reference price framework for brand choice. In this framework, we employ a Markov-switching process with an absorbing state to model unobserved price recall of households. Reference prices result from the prices households are able to remember. Our model can be used to

A JOINT EXPERIMENTAL ANALYSIS OF INVESTOR BEHAVIOR IN IPO PRICING METHODS

Directory of Open Access Journals (Sweden)

Vinicio de Souza e Almeida

2015-01-01

Full Text Available This article jointly examines the differences of laboratory versions of the Dutch clock open auction, a sealed-bid auction to represent book building, and a two-stage sealed bid auction to proxy for the “competitive IPO”, a recent innovation used in a few European equity initial public offerings. We investigate pricing, seller allocation, and buyer welfare allocation efficiency and conclude that the book building emulation seems to be as price efficient as the Dutch auction, even after investor learning, whereas the competitive IPO is not price efficient, regardless of learning. The competitive IPO is the most seller allocative efficient method because it maximizes offer proceeds. The Dutch auction emerges as the most buyer welfare allocative efficient method. Underwriters are probably seeking pricing efficiency rather than seller or buyer welfare allocative efficiency and their discretionary pricing and allocation must be important since book building is prominent worldwide.

Oil price scenarios and refining profitability

International Nuclear Information System (INIS)

Sweeney, B.

1993-01-01

Currently refining profitability is low because there has been an overbuilding of conversion capacity in Western Europe in the last round. Oil marketing, the chemicals business and the fundamental economy itself are at low points in their cycles which have not coincided, at least in the UK, since 1975. Against that gloomy background, it is predicted that downstream profitability will recover in the mid-1990s. Crude oil prices will remain low until the call on OPEC crude increases again and takes up the capacity which has been brought on stream in response to the Gulf War. When this happens, it is likely to trigger another price spike and another round of investment in production capacity. Environmentally driven investments in desulphurisation or emissions reduction will be poorly remunerated all the way through the value chain. Refining margins will recover when white oil demand growth tightens up the need for conversion capacity. Marketing will need to reduce the retail network overcapacity in the mature markets if it is to improve its profitability. In this period of low profitability, even with the light at the end of the tunnel for refiners in the middle of the decade, the industry structure is under threat. There is a strong argument for new modes of competitive behaviour which are backed by strong elements of cooperation. (author)

Modelling the impact of oil prices on Vietnam's stock prices

International Nuclear Information System (INIS)

Narayan, Paresh Kumar; Narayan, Seema

2010-01-01

The goal of this paper is to model the impact of oil prices on Vietnam's stock prices. We use daily data for the period 2000-2008 and include the nominal exchange rate as an additional determinant of stock prices. We find that stock prices, oil prices and nominal exchange rates are cointegrated, and oil prices have a positive and statistically significant impact on stock prices. This result is inconsistent with theoretical expectations. The growth of the Vietnamese stock market was accompanied by rising oil prices. However, the boom of the stock market was marked by increasing foreign portfolio investment inflows which are estimated to have doubled from US$0.9 billion in 2005 to US$1.9 billion in 2006. There was also a change in preferences from holding foreign currencies and domestic bank deposits to stocks local market participants, and there was a rise in leveraged investment in stock as well as investments on behalf of relatives living abroad. It seems that the impact of these internal and domestic factors were more dominant than the oil price rise on the Vietnamese stock market. (author)

Drug Pricing Reforms

DEFF Research Database (Denmark)

Kaiser, Ulrich; Mendez, Susan J.; Rønde, Thomas

2015-01-01

Reference price systems for prescription drugs have found widespread use as cost containment tools. Under such regulatory regimes, patients co-pay a fraction of the difference between pharmacy retail price of the drug and a reference price. Reference prices are either externally (based on drug...... prices in other countries) or internally (based on domestic drug prices) determined. In a recent study, we analysed the effects of a change from external to internal reference pricing in Denmark in 2005, finding that the reform led to substantial reductions in prices, producer revenues, and expenditures...... for patients and the health insurance system. We also estimated an increase in consumer welfare but the size effect depends on whether or not perceived quality differences between branded and other drugs are taken into account....

Whistler Triggered Upper Band Chorus Observed in Alaska

Science.gov (United States)

Hosseini, P.; Golkowski, M.

2017-12-01

VLF radiation from lightning discharges is one of several sources of energy injection into the inner magnetosphere from the Earth. Lightning discharges initially produce a broadband impulse or `sferic' but after propagation in the dispersive magnetosphere this waveform soon becomes quasi narrow band with the characteristic spectrographic form of the whistler. Most of the lightning induced VLF wave energy injected into the magnetosphere will be unducted with a k-vector which becomes increasingly oblique. Although unducted radiation is ubiquitous throughout the inner magnetosphere, it is generally of a low amplitude due to Landau damping and is not expected to produce strong nonlinear phenomena such as triggered emissions and chorus waves. However, VLF wave energy ducted or trapped in field-aligned plasma density enhancements can have relatively large amplitudes due to focusing and also linear cyclotron resonance growth. Therefore high amplitude ducted whistler waves can trigger a number of complex nonlinear phenomena. These include the triggering of VLF emissions and triggering of VLF hiss or chorus. Such phenomena are generally considered to result from nonlinear electron cyclotron phase trapping. Observation of such VLF emissions triggered by natural whistlers have been reported since the 1970s in Antarctica. We present observations of whistlers triggered upper band chorus emission from Alaska. Dispersion analyze of whistlers determine the L-shell range to be 4.5 clear frequency band gap between upper and lower band of the observed chorus emissions. The observations point to ducted chorus generation in the vicinity of the plasmapause boundary.

Upgrade of the ATLAS Level-1 Calorimeter Trigger

CERN Document Server

Wessels, M; The ATLAS collaboration

2014-01-01

The Level-1 Calorimeter Trigger (L1Calo) of the ATLAS experiment has been operating well since the start of LHC data taking, and played a major role in the Higgs boson discovery. To face the new challenges posed by the upcoming increases of the LHC proton beam energy and luminosity, a series of upgrades is planned for L1Calo. The initial upgrade phase in 2013-14 includes substantial improvements to the analogue and digital signal processing to allow more sophisticated digital filters for energy and timing measurement, as well as compensate for pile-up and baseline shifting effects. Two existing digital algorithm processor subsystems will receive substantial hardware and firmware upgrades to increase the real-time data path bandwidth, allowing topological information to be transmitted and processed at Level-1. An entirely new subsystem, the Level-1 Topological Processor, will receive real-time data from both the upgraded L1Calo and Level-1 Muon Trigger to perform trigger algorithms based on entire event topolo...

Double prospectively ECG-triggered high-pitch spiral acquisition for CT coronary angiography: Initial experience

International Nuclear Information System (INIS)

Wang, Q.; Qin, J.; He, B.; Zhou, Y.; Yang, J.-J.; Hou, X.-L.; Yang, X.-B.; Chen, J.-H.; Chen, Y.-D.

2013-01-01

Aim: To evaluate the feasibility of double prospectively electrocardiogram (ECG)-triggered high-pitch spiral acquisition mode (double high-pitch mode) for coronary computed tomography angiography (CTCA). Materials and methods: One hundred and forty-nine consecutive patients [40 women, 109 men; mean age 58.2 ± 9.2 years; sinus rhythm ≤70 beats/min (bpm) after pre-medication, body weight ≤100 kg] were enrolled for CTCA examinations using a dual-source CT system with 2 × 128 × 0.6 mm collimation, 0.28 s rotation time, and a pitch of 3.4. Double high-pitch mode was prospectively triggered first at 60% and later at 30% of the R–R interval within two cardiac cycles. Image quality was evaluated using a four-point scale (1 = excellent, 4 = non-assessable). Results: From 2085 coronary artery segments, 86.4% (1802/2085) were rated as having a score of 1, 12.3% (257/2085) as score of 2, 1.2% (26/2085) as score of 3, and none were rated as “non-assessable”. The average image quality score was 1.15 ± 0.26 on a per-segment basis. The effective dose was calculated by multiplying the coefficient factor of 0.028 by the dose–length product (DLP); the mean effective dose was 3.5 ± 0.8 mSv (range 1.7–7.6 mSv). The total dosage of contrast medium was 78.7 ± 2.9 ml. Conclusion: Double prospectively ECG-triggered high-pitch spiral acquisition mode provides good image quality with an average effective dose of less than 5 mSv in patients with a heart rate ≤70 bpm

ACCOUNTING ASPECTS OF PRICING AND TRANSFER PRICING

OpenAIRE

TÜNDE VERES

2011-01-01

The pricing methods in practice need really complex view of the business situation and depend on the strategy and market position of a company. The structure of a price seems simple: cost plus margin. Both categories are special area in the management accounting. Information about the product costs, the allocation methodologies in cost accounting, the analyzing of revenue and different level of the margin needs information from accounting system. This paper analyzes the pricing methods from m...

The bio-energies development: the role of biofuels and the CO2 price

International Nuclear Information System (INIS)

Jouvet, Pierre-Andre; Lantz, Frederic; Le Cadre, Elodie

2012-01-01

Reduction in energy dependency and emissions of CO 2 via renewable energies targeted in the European Union energy mix and taxation system, might trigger the production of bio-energy production and competition for biomass utilization. Torrefied biomass could be used to produce second generation biofuels to replace some of the fuels used in transportation and is also suitable as feedstock to produce electricity in large quantities. This paper examines how the CO 2 price affects demand of torrefied biomass in the power sector and its consequences on the profitability of second generation biofuel units (Biomass to Liquid units). Indeed, the profitability of the BtL units which are supplied only by torrefied biomass is related to the competitive demand of the power sector driven by the CO 2 price and feed-in tariffs. We propose a linear dynamic model of supply and demand. On the supply side, a profit-maximizing torrefied biomass sector is modelled. The model aims to represent the transformation of biomass into torrefied biomass which could be sold to the refinery sector and the power sector. A two-sided (demanders and supplier) bidding process led us to arrive at the equilibrium price for torrefied biomass. The French case is used as an example. Our results suggest that the higher the CO 2 price, the more stable and important the power sector demand. It also makes the torrefied biomass production less vulnerable to uncertainty on demand coming from the refining sector. The torrefied biomass co-firing with coal can offer a near-term market for the torrefied biomass for a CO 2 emission price lower than 20 euros/tCO 2 , which can stimulate development of biomass supply systems. Beyond 2020, the demand for torrefied biomass from the power sector could be substituted by the refining sector if the oil price goes up whatever the CO 2 price. (authors)

Transfer Pricing

DEFF Research Database (Denmark)

Nielsen, Søren Bo

2014-01-01

Against a background of rather mixed evidence about transfer pricing practices in multinational enterprises (MNEs) and varying attitudes on the part of tax authorities, this paper explores how multiple aims in transfer pricing can be pursued across four different transfer pricing regimes. A MNE h...

ATLAS Trigger and Data Acquisition Upgrades for High Luminosity LHC

CERN Document Server

AUTHOR|(INSPIRE)INSPIRE-00439268; The ATLAS collaboration

2016-01-01

The ATLAS experiment at CERN is planning a second phase of upgrades to prepare for the "High Luminosity LHC", a 4th major run due to start in 2026. In order to deliver an order of magnitude more data than previous runs, 14 TeV protons will collide with an instantaneous luminosity of 7.5 × 1034 cm−2s−1, resulting in much higher pileup and data rates than the current experiment was designed to handle. While this extreme scenario is essential to realise the physics programme, it is a huge challenge for the detector, trigger, data acquisition and computing. The detector upgrades themselves also present new requirements and opportunities for the trigger and data acquisition system. Initial upgrade designs for the trigger and data acquisition system are shown, including the real time low latency hardware trigger, hardware-based tracking, the high throughput data acquisition system and the commodity hardware and software-based data handling and event filtering. The motivation, overall architecture and expected ...

ATLAS Trigger and Data Acquisition Upgrades for High Luminosity LHC

CERN Document Server

AUTHOR|(INSPIRE)INSPIRE-00421104; The ATLAS collaboration

2016-01-01

The ATLAS experiment at CERN is planning a second phase of upgrades to prepare for the "High Luminosity LHC", a 4th major run due to start in 2026. In order to deliver an order of magnitude more data than previous runs, 14 TeV protons will collide with an instantaneous luminosity of $7.5 \\times 10^{34} cm^{-2}s^{-1}$, resulting in much higher pileup and data rates than the current experiment was designed to handle. While this extreme scenario is essential to realise the physics programme, it is a huge challenge for the detector, trigger, data acquisition and computing. The detector upgrades themselves also present new requirements and opportunities for the trigger and data acquisition system. Initial upgrade designs for the trigger and data acquisition system are shown, including the real time low latency hardware trigger, hardware-based tracking, the high throughput data acquisition system and the commodity hardware and software-based data handling and event filtering. The motivation, overall architecture an...

ATLAS Trigger and Data Acquisition Upgrades for High Luminosity LHC

CERN Document Server

George, Simon; The ATLAS collaboration

2016-01-01

The ATLAS experiment at CERN is planning a second phase of upgrades to prepare for the "High Luminosity LHC", a 4th major run due to start in 2026. In order to deliver an order of magnitude more data than previous runs, 14 TeV protons will collide with an instantaneous luminosity of 7.5 × 10^{34} cm^{−2}s^{−1}, resulting in much higher pileup and data rates than the current experiment was designed to handle. While this extreme scenario is essential to realise the physics programme, it is a huge challenge for the detector, trigger, data acquisition and computing. The detector upgrades themselves also present new requirements and opportunities for the trigger and data acquisition system. Initial upgrade designs for the trigger and data acquisition system are shown, including the real time low latency hardware trigger, hardware-based tracking, the high throughput data acquisition system and the commodity hardware and software-based data handling and event filtering. The motivation, overall architecture and ...

ATLAS Trigger and Data Acquisition Upgrades for High Luminosity LHC

CERN Document Server

Balunas, William Keaton; The ATLAS collaboration

2016-01-01

The ATLAS experiment at CERN is planning a second phase of upgrades to prepare for the "High Luminosity LHC", a 4th major run due to start in 2026. In order to deliver an order of magnitude more data than previous runs, 14 TeV protons will collide with an instantaneous luminosity of $7.5 × 10^{34}$ cm$^{−2}$s$^{−1}$, resulting in much higher pileup and data rates than the current experiment was designed to handle. While this extreme scenario is essential to realise the physics programme, it is a huge challenge for the detector, trigger, data acquisition and computing. The detector upgrades themselves also present new requirements and opportunities for the trigger and data acquisition system. Initial upgrade designs for the trigger and data acquisition system are shown, including the real time low latency hardware trigger, hardware-based tracking, the high throughput data acquisition system and the commodity hardware and software-based data handling and event filtering. The motivation, overall architectur...

Adapting Child Care Market Price Surveys to Support State Quality Initiatives. White Paper

Science.gov (United States)

Branscome, Kenley

2016-01-01

Recent changes to the Child Care and Development Fund (CCDF) require a state's child care market price survey to: (1) be statistically valid and reliable and (2) reflect variations in the cost of child care services by geographic area, type of provider, and age of child. States may use an alternative methodology for setting payment rates--such as…

NOMAD Trigger Studies

International Nuclear Information System (INIS)

Varvell, K.

1995-01-01

The author reports on the status of an offline study of the NOMAD triggers, which has several motivations. Of primary importance is to demonstrate, using offline information recorded by the individual subdetectors comprising NOMAD, that the online trigger system is functioning as expected. Such an investigation serves to complement the extensive monitoring which is already carried out online. More specific to the needs of the offline software and analysis, the reconstruction of tracks and vertices in the detector requires some knowledge of the time at which the trigger has occurred, in order to locate relevant hits in the drift chambers and muon chambers in particular. The fact that the different triggers allowed by the MIOTRINO board take varying times to form complicates this task. An offline trigger algorithm may serve as a tool to shed light on situations where the online trigger status bits have not been recorded correctly, as happens in a small number of cases, or as an aid to studies with the aim of further refinement of the online triggers themselves

Natural gas pricing

International Nuclear Information System (INIS)

Freedenthal, C.

1993-01-01

Natural gas pricing is the heart and soul of the gas business. Price specifically affects every phase of the industry. Too low a price will result in short supplies as seen in the mid-1970s when natural gas was scarce and in tight supply. To fully understand the pricing of this energy commodity, it is important to understand the total energy picture. In addition, the effect and impact of world and US economies, and economics in general are crucial to understanding natural gas pricing. The purpose of this presentation will be to show the parameters going into US natural gas pricing including the influence of the many outside industry factors like crude oil and coal pricing, market drivers pushing the gas industry, supply/demand parameters, risk management for buyers and sellers, and other elements involved in pricing analysis

Testing causal relationships between wholesale electricity prices and primary energy prices

International Nuclear Information System (INIS)

Nakajima, Tadahiro; Hamori, Shigeyuki

2013-01-01

We apply the lag-augmented vector autoregression technique to test the Granger-causal relationships among wholesale electricity prices, natural gas prices, and crude oil prices. In addition, by adopting a cross-correlation function approach, we test not only the causality in mean but also the causality in variance between the variables. The results of tests using both techniques show that gas prices Granger-cause electricity prices in mean. We find no Granger-causality in variance among these variables. -- Highlights: •We test the Granger-causality among wholesale electricity and primary energy prices. •We test not only the causality in mean but also the causality in variance. •The results show that gas prices Granger-cause electricity prices in mean. •We find no Granger-causality in variance among these variables

Photovoltaic (PV) Pricing Trends: Historical, Recent, and Near-Term Projections

Energy Technology Data Exchange (ETDEWEB)

Feldman, David [National Renewable Energy Lab. (NREL), Golden, CO (United States); Barbose, Galen [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Margolis, Robert [National Renewable Energy Lab. (NREL), Golden, CO (United States); Wiser, Ryan [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Darghouth, Naim [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Goodrich, Alan [National Renewable Energy Lab. (NREL), Golden, CO (United States)

2012-11-30

The installed capacity of global and U.S. photovoltaic (PV) systems has soared in recent years, driven by declining PV prices and government incentives. The U.S. Department of Energy’s (DOE) SunShot Initiative aims to make PV cost competitive without incentives by reducing the cost of PV-generated electricity by about 75% between 2010 and 2020. This summary report—based on research at Lawrence Berkeley National Laboratory (LBNL) and the National Renewable Energy Laboratory (NREL)—examines progress in PV price reductions to help DOE and other PV stakeholders manage the transition to a market-driven PV industry, and to provide clarity surrounding the wide variety of potentially conflicting data available about PV system prices.

Consumer food choices: the role of price and pricing strategies.

Science.gov (United States)

Steenhuis, Ingrid H M; Waterlander, Wilma E; de Mul, Anika

2011-12-01

To study differences in the role of price and value in food choice between low-income and higher-income consumers and to study the perception of consumers about pricing strategies that are of relevance during grocery shopping. A cross-sectional study was conducted using structured, written questionnaires. Food choice motives as well as price perceptions and opinion on pricing strategies were measured. The study was carried out in point-of-purchase settings, i.e. supermarkets, fast-food restaurants and sports canteens. Adults (n 159) visiting a point-of-purchase setting were included. Price is an important factor in food choice, especially for low-income consumers. Low-income consumers were significantly more conscious of value and price than higher-income consumers. The most attractive strategies, according to the consumers, were discounting healthy food more often and applying a lower VAT (Value Added Tax) rate on healthy food. Low-income consumers differ in their preferences for pricing strategies. Since price is more important for low-income consumers we recommend mainly focusing on their preferences and needs.

An electricity price model with consideration to load and gas price effects.

Science.gov (United States)

Huang, Min-xiang; Tao, Xiao-hu; Han, Zhen-xiang

2003-01-01

Some characteristics of the electricity load and prices are studied, and the relationship between electricity prices and gas (fuel) prices is analyzed in this paper. Because electricity prices are strongly dependent on load and gas prices, the authors constructed a model for electricity prices based on the effects of these two factors; and used the Geometric Mean Reversion Brownian Motion (GMRBM) model to describe the electricity load process, and a Geometric Brownian Motion(GBM) model to describe the gas prices; deduced the price stochastic process model based on the above load model and gas price model. This paper also presents methods for parameters estimation, and proposes some methods to solve the model.

Ontario gas prices review task force report : fairness at the pump

International Nuclear Information System (INIS)

2000-01-01

Sudden gas price increases hit Ontario consumers in July 1999, and as a result, the Gas Busters Hotline operated by the provincial government received over 4,000 complaints concerning the price of gas. World crude oil prices increased to above 34 American dollars per barrel by March 2000, and there were discrepancies by as much as 10 cents a litre in the price of gas in Ontario, depending on the community where the purchase was made. The Gas Prices Review Task Force was established in November 1999 to assist in the identification of an adequate solution to the rising price of gas. Public participation was sought, as well as input from representatives of consumer groups and industry. The Task Force was also mandated to conduct policy options research to ensure fair prices at the pump, to examine the regulatory or legislative initiatives that would work best for the protection of the consumer, in accordance with the federal Competition Act. A report was submitted to the Minister of Consumer and Commercial Relations. A total of fourteen recommendations were made to the Minister. The recommendations touched topics as varied as tax collection legislation, price monitoring, segmented earnings reports, removal of the Goods and Services Tax (GST). refs., figs

Tiered co-payments, pricing, and demand in reference price markets for pharmaceuticals.

Science.gov (United States)

Herr, Annika; Suppliet, Moritz

2017-12-01

Health insurance companies curb price-insensitive behavior and the moral hazard of insureds by means of cost-sharing, such as tiered co-payments or reference pricing in drug markets. This paper evaluates the effect of price limits - below which drugs are exempt from co-payments - on prices and on demand. First, using a difference-in-differences estimation strategy, we find that the new policy decreases prices by 5 percent for generics and increases prices by 4 percent for brand-name drugs in the German reference price market. Second, estimating a nested-logit demand model, we show that consumers appreciate co-payment exempt drugs and calculate lower price elasticities for brand-name drugs than for generics. This explains the different price responses of brand-name and generic drugs and shows that price-related co-payment tiers are an effective tool to steer demand to low-priced drugs. Copyright © 2017 Elsevier B.V. All rights reserved.

Recovering a time-homogeneous stock price process from perpetual option prices

OpenAIRE

Ekström, Erik; Hobson, David

2009-01-01

It is well known how to determine the price of perpetual American options if the underlying stock price is a time-homogeneous diffusion. In the present paper we consider the inverse problem, that is, given prices of perpetual American options for different strikes, we show how to construct a time-homogeneous stock price model which reproduces the given option prices.

Steam explosion triggering phenomena: stainless steel and corium-E simulants studied with a floodable arc melting apparatus

International Nuclear Information System (INIS)

Nelson, L.S.; Buxton, L.D.

1978-05-01

Laboratory-scale experiments on the thermal interaction of light water reactor core materials with water have been performed. Samples (10--35 g) of Type 304 stainless steel and Corium-E simulants were each flooded with approximately 1.5 litres of water to determine whether steam explosions would occur naturally. Many of the experiments also employed artificially induced pressure transients in an attempt to initiate steam explosions. Vigorous interactions were not observed when the triggering pulse was not applied, and for stainless steel the triggering pulse initiated only coarse fragmentation. Two-stage, pressure-producing interactions were triggered for an ''oxidic'' Corium-E simulant. An impulse-initiated gas release theory has been simulated to explain the initial sample fragmentation. Although the delayed second stage of the event is not fully understood, it does not appear to be readily explained with classical vapor explosion theory. Rather, some form of metastability of the melt seems to be involved

Investigation into triggering lightning with a pulsed laser

International Nuclear Information System (INIS)

Schubert, C.W. Jr.; Lippert, J.R.

1979-01-01

Theoretical and experimental considerations for the triggering of lightning with a high-power pulsed laser are discussed. The mechanisms of laser-induced clean air breakdown, aerosol breakdown, and channel heating over a long path for the purpose of initiating and possibly guiding lightning are reviewed. It is shown that long path (of the order of one kilometer) ionization through laser-induced clean air breakdown is theoretically possible. Channel heating over a long path appears possible, but requires prohibitive energies. Indications are that long path ionization can be enhanced by taking advantage of the significantly reduced power requirements for aerosol breakdown. The Mt. Baldy, New Mexico, experimental test site for 1978 to 1979 experiments and triggering attempts is briefly described

How Does Pricing of Day-ahead Electricity Market Affect Put Option Pricing?

Directory of Open Access Journals (Sweden)

H. Raouf Sheybani

2016-09-01

Full Text Available In this paper, impacts of day-ahead market pricing on behavior of producers and consumers in option and day-ahead markets and on option pricing are studied. To this end, two comprehensive equilibrium models for joint put option and day-ahead markets under pay-as-bid and uniform pricing in day-ahead market are presented, respectively. Interaction between put option and day-ahead markets, uncertainty in fuel price, day-ahead market pricing, and elasticity of consumers to strike price, premium price, and day-ahead price are taken into account in these models. By applying the presented models to a test system impact of day-ahead market pricing on equilibrium of joint put option and day-ahead markets are studied.

Gold prices

OpenAIRE

Joseph G. Haubrich

1998-01-01

The price of gold commands attention because it serves as an indicator of general price stability or inflation. But gold is also a commodity, used in jewelry and by industry, so demand and supply affect its pricing and need to be considered when gold is a factor in monetary policy decisions.

Real-time prediction of rain-triggered lahars: incorporating seasonality and catchment recovery

Science.gov (United States)

Jones, Robbie; Manville, Vern; Peakall, Jeff; Froude, Melanie J.; Odbert, Henry M.

2017-12-01

Rain-triggered lahars are a significant secondary hydrological and geomorphic hazard at volcanoes where unconsolidated pyroclastic material produced by explosive eruptions is exposed to intense rainfall, often occurring for years to decades after the initial eruptive activity. Previous studies have shown that secondary lahar initiation is a function of rainfall parameters, source material characteristics and time since eruptive activity. In this study, probabilistic rain-triggered lahar forecasting models are developed using the lahar occurrence and rainfall record of the Belham River valley at the Soufrière Hills volcano (SHV), Montserrat, collected between April 2010 and April 2012. In addition to the use of peak rainfall intensity (PRI) as a base forecasting parameter, considerations for the effects of rainfall seasonality and catchment evolution upon the initiation of rain-triggered lahars and the predictability of lahar generation are also incorporated into these models. Lahar probability increases with peak 1 h rainfall intensity throughout the 2-year dataset and is higher under given rainfall conditions in year 1 than year 2. The probability of lahars is also enhanced during the wet season, when large-scale synoptic weather systems (including tropical cyclones) are more common and antecedent rainfall and thus levels of deposit saturation are typically increased. The incorporation of antecedent conditions and catchment evolution into logistic-regression-based rain-triggered lahar probability estimation models is shown to enhance model performance and displays the potential for successful real-time prediction of lahars, even in areas featuring strongly seasonal climates and temporal catchment recovery.

Real-time prediction of rain-triggered lahars: incorporating seasonality and catchment recovery

Directory of Open Access Journals (Sweden)

R. Jones

2017-12-01

Full Text Available Rain-triggered lahars are a significant secondary hydrological and geomorphic hazard at volcanoes where unconsolidated pyroclastic material produced by explosive eruptions is exposed to intense rainfall, often occurring for years to decades after the initial eruptive activity. Previous studies have shown that secondary lahar initiation is a function of rainfall parameters, source material characteristics and time since eruptive activity. In this study, probabilistic rain-triggered lahar forecasting models are developed using the lahar occurrence and rainfall record of the Belham River valley at the Soufrière Hills volcano (SHV, Montserrat, collected between April 2010 and April 2012. In addition to the use of peak rainfall intensity (PRI as a base forecasting parameter, considerations for the effects of rainfall seasonality and catchment evolution upon the initiation of rain-triggered lahars and the predictability of lahar generation are also incorporated into these models. Lahar probability increases with peak 1 h rainfall intensity throughout the 2-year dataset and is higher under given rainfall conditions in year 1 than year 2. The probability of lahars is also enhanced during the wet season, when large-scale synoptic weather systems (including tropical cyclones are more common and antecedent rainfall and thus levels of deposit saturation are typically increased. The incorporation of antecedent conditions and catchment evolution into logistic-regression-based rain-triggered lahar probability estimation models is shown to enhance model performance and displays the potential for successful real-time prediction of lahars, even in areas featuring strongly seasonal climates and temporal catchment recovery.

Value-based differential pricing: efficient prices for drugs in a global context.

Science.gov (United States)

Danzon, Patricia; Towse, Adrian; Mestre-Ferrandiz, Jorge

2015-03-01

This paper analyzes pharmaceutical pricing between and within countries to achieve second-best static and dynamic efficiency. We distinguish countries with and without universal insurance, because insurance undermines patients' price sensitivity, potentially leading to prices above second-best efficient levels. In countries with universal insurance, if each payer unilaterally sets an incremental cost-effectiveness ratio (ICER) threshold based on its citizens' willingness-to-pay for health; manufacturers price to that ICER threshold; and payers limit reimbursement to patients for whom a drug is cost-effective at that price and ICER, then the resulting price levels and use within each country and price differentials across countries are roughly consistent with second-best static and dynamic efficiency. These value-based prices are expected to differ cross-nationally with per capita income and be broadly consistent with Ramsey optimal prices. Countries without comprehensive insurance avoid its distorting effects on prices but also lack financial protection and affordability for the poor. Improving pricing efficiency in these self-pay countries includes improving regulation and consumer information about product quality and enabling firms to price discriminate within and between countries. © 2013 The Authors. Health Economics published by John Wiley & Sons Ltd.

Triggering at high luminosity: fake triggers from pile-up

International Nuclear Information System (INIS)

Johnson, R.

1983-01-01

Triggers based on a cut in transverse momentum (p/sub t/) have proved to be useful in high energy physics both because they indicte that a hard constituent scattering has occurred and because they can be made quickly enough to gate electronics. These triggers will continue to be useful at high luminosities if overlapping events do not cause an excessive number of fake triggers. In this paper, I determine if this is indeed a problem at high luminosity machines

Triggered lightning spectroscopy: Part 1. A qualitative analysis

Science.gov (United States)

Walker, T. Daniel; Christian, Hugh J.

2017-08-01

The first high-speed spectra of triggered lightning have been obtained. During the summers of 2012 and 2013, spectra were recorded at the International Center for Lightning Research and Testing, Camp Blanding, FL. The spectra were recorded with a high-speed camera with a grism mounted in front of it. The triggered lightning channels observed were generally at low altitude in a region that included the copper wire. Spectral emissions were recorded at each phase: the initial stage, dart leader, return stroke, and continuing current. These spectra are separated into two major regions: soft ultraviolet to visible (3800-6200 Å) and visible to near infrared (6200-8700 Å). The emissions during the initial stage reflect those of a copper wire burn in air. The majority of the emissions are neutral copper. After the initial stage comes the first return stroke which contains no detected molecular emissions; however, it does contain neutral, singly, and doubly ionized nitrogen and oxygen, neutral argon, and neutral hydrogen. Occasionally, before a return stroke, the dart leader coming down the channel will be stepped. During these occasions the leader spectra resemble that of the return stroke but are dimmer and shorter lived. After the initial portion of the return stroke, there are often changes in the luminosity of the spectrum which corresponds with fluctuations in the continuing current. During these "reillumination phases" no singly or doubly ionized lines have been observed to reemerge over the detection threshold, only neutral emission features.

The integration of Price Responsive Demand into Regional Transmission Organization (RTO) wholesale power markets and system operations

International Nuclear Information System (INIS)

Centolella, Paul

2010-01-01

A number of states and utilities are pursuing demand response based on dynamic and time-differentiated retail prices and utility investments in Advanced Metering Infrastructure (AMI), often as part of Smart Grid initiatives. These developments could produce large amounts of Price Responsive Demand, demand that predictably responds to changes in wholesale prices. Price Responsive Demand could provide significant reliability and economic benefits. However, existing RTO tariffs present potential barriers to the development of Price Responsive Demand. Effectively integrating Price Responsive Demand into RTO markets and operations will require changes in demand forecasting, scarcity pricing reform, synchronization of scarcity pricing with capacity markets, tracking voluntary hedging by price responsive loads, and a non-discriminatory approach in curtailments in capacity emergencies. The article describes changes in RTO policies and systems needed incorporate Price Responsive Demand. (author)

Modeling the relationship between the oil price and global food prices

International Nuclear Information System (INIS)

Chen, Sheng-Tung; Kuo, Hsiao-I; Chen, Chi-Chung

2010-01-01

The growth of corn-based ethanol production and soybean-based bio-diesel production following the increase in the oil prices have significantly affect the world agricultural grain productions and its prices. The main purpose of this paper is to investigate the relationships between the crude oil price and the global grain prices for corn, soybean, and wheat. The empirical results show that the change in each grain price is significantly influenced by the changes in the crude oil price and other grain prices during the period extending from the 3rd week in 2005 to the 20th week in 2008 which implies that grain commodities are competing with the derived demand for bio-fuels by using soybean or corn to produce ethanol or bio-diesel during the period of higher crude oil prices in these recent years. The subsidy policies in relation to the bio-fuel industries in some nations engaging in bio-fuel production should be considered to avoid the consequences resulting from high oil prices. (author)

Energy prices and taxes

International Nuclear Information System (INIS)

2004-01-01

Energy Prices and Taxes contains a major international compilation of energy prices at all market levels: import prices, industry prices and consumer prices. The statistics cover main petroleum products, gas, coal and electricity, giving for imported products an average price both for importing country and country of origin. Every issue includes full notes on sources and methods and a description of price mechanisms in each country

Trigger mechanisms of secondary sclerosing cholangitis in critically ill patients.

Science.gov (United States)

Leonhardt, Silke; Veltzke-Schlieker, Wilfried; Adler, Andreas; Schott, Eckart; Hetzer, Roland; Schaffartzik, Walter; Tryba, Michael; Neuhaus, Peter; Seehofer, Daniel

2015-03-31

In recent years the development of secondary sclerosing cholangitis in critically ill patients (SSC-CIP) has increasingly been perceived as a separate disease entity. About possible trigger mechanisms of SSC-CIP has been speculated, systematic investigations on this issue are still lacking. The purpose of this study was to evaluate the prevalence and influence of promoting factors. Temporality, consistency and biological plausibility are essential prerequisites for causality. In this study, we investigated the temporality and consistency of possible triggers of SSC-CIP in a large case series. Biological plausibility of the individual triggers is discussed in a scientific context. SSC-CIP cases were recruited retrospectively from 2633 patients who underwent or were scheduled for liver transplantation at the University Hospital Charité, Berlin. All patients who developed secondary sclerosing cholangitis in association with intensive care treatment were included. Possible trigger factors during the course of the initial intensive care treatment were recorded. Sixteen patients (68% males, mean age 45.87 ± 14.64 years) with a confirmed diagnosis of SSC-CIP were identified. Of the 19 risk factors investigated, particularly severe hypotension with a prolonged decrease in mean arterial blood pressure (MAP) to <65 mmHg and systemic inflammatory response syndrome (SIRS) were established as possible triggers of SSC-CIP. The occurrence of severe hypotension appears to be the first and most significant step in the pathogenesis. It seems that severe hypotension has a critical effect on the blood supply of bile ducts when it occurs together with additional microcirculatory disturbances. In critically ill patients with newly acquired cholestasis the differential diagnosis of SSC-CIP should be considered when they have had an episode of haemodynamic instability with a prolonged decrease in MAP, initial need for large amounts of blood transfusions or colloids, and early

Structural Features of Sugars That Trigger or Support Conidial Germination in the Filamentous Fungus Aspergillus niger

Science.gov (United States)

Hayer, Kimran; Stratford, Malcolm

2013-01-01

The asexual spores (conidia) of Aspergillus niger germinate to produce hyphae under appropriate conditions. Germination is initiated by conidial swelling and mobilization of internal carbon and energy stores, followed by polarization and emergence of a hyphal germ tube. The effects of different pyranose sugars, all analogues of d-glucose, on the germination of A. niger conidia were explored, and we define germination as the transition from a dormant conidium into a germling. Within germination, we distinguish two distinct stages, the initial swelling of the conidium and subsequent polarized growth. The stage of conidial swelling requires a germination trigger, which we define as a compound that is sensed by the conidium and which leads to catabolism of d-trehalose and isotropic growth. Sugars that triggered germination and outgrowth included d-glucose, d-mannose, and d-xylose. Sugars that triggered germination but did not support subsequent outgrowth included d-tagatose, d-lyxose, and 2-deoxy-d-glucose. Nontriggering sugars included d-galactose, l-glucose, and d-arabinose. Certain nontriggering sugars, including d-galactose, supported outgrowth if added in the presence of a complementary triggering sugar. This division of functions indicates that sugars are involved in two separate events in germination, triggering and subsequent outgrowth, and the structural features of sugars that support each, both, or none of these events are discussed. We also present data on the uptake of sugars during the germination process and discuss possible mechanisms of triggering in the absence of apparent sugar uptake during the initial swelling of conidia. PMID:23995938

Structural features of sugars that trigger or support conidial germination in the filamentous fungus Aspergillus niger.

Science.gov (United States)

Hayer, Kimran; Stratford, Malcolm; Archer, David B

2013-11-01

The asexual spores (conidia) of Aspergillus niger germinate to produce hyphae under appropriate conditions. Germination is initiated by conidial swelling and mobilization of internal carbon and energy stores, followed by polarization and emergence of a hyphal germ tube. The effects of different pyranose sugars, all analogues of d-glucose, on the germination of A. niger conidia were explored, and we define germination as the transition from a dormant conidium into a germling. Within germination, we distinguish two distinct stages, the initial swelling of the conidium and subsequent polarized growth. The stage of conidial swelling requires a germination trigger, which we define as a compound that is sensed by the conidium and which leads to catabolism of d-trehalose and isotropic growth. Sugars that triggered germination and outgrowth included d-glucose, d-mannose, and d-xylose. Sugars that triggered germination but did not support subsequent outgrowth included d-tagatose, d-lyxose, and 2-deoxy-d-glucose. Nontriggering sugars included d-galactose, l-glucose, and d-arabinose. Certain nontriggering sugars, including d-galactose, supported outgrowth if added in the presence of a complementary triggering sugar. This division of functions indicates that sugars are involved in two separate events in germination, triggering and subsequent outgrowth, and the structural features of sugars that support each, both, or none of these events are discussed. We also present data on the uptake of sugars during the germination process and discuss possible mechanisms of triggering in the absence of apparent sugar uptake during the initial swelling of conidia.

Evolution of the Trigger and Data Acquisition System in the ATLAS experiment

CERN Document Server

Kama, Sami; The ATLAS collaboration

2012-01-01

The ATLAS detector is designed to observe proton-proton collisions delivered by the LHC accelerator. The ATLAS Trigger and Data Acquisition (TDAQ) system is responsible for the selection and the conveyance of physics data, reducing the rate of stored events from the initial 40 MHz LHC frequency to several hundreds Hz. The TDAQ system is organised in a three-level selection scheme, including a hardware-based first-level trigger and second- and third-level triggers implemented as software systems distributed on commodity hardware nodes. The second-level trigger operates over limited regions of the detector, the so-called Regions-of-Interest (RoI). The last selection step deals instead with complete events. In the current design, the second and third trigger levels are separate systems. While this architecture was successfully operated well beyond the original design goals, the accumulated experience stimulated interest to explore possible evolutions. One attractive direction is to merge the second and third tri...

Evolution of the Trigger and Data Acquisition System in the ATLAS experiment

CERN Document Server

Kama, S; The ATLAS collaboration

2012-01-01

The ATLAS detector is designed to observe proton-proton collisions delivered by the LHC accelerator. The ATLAS Trigger and Data Acquisition (TDAQ) system is responsible for the selection and the conveyance of physics data, reducing the rate of stored events from the initial $40\\MHz$ LHC frequency to several hundreds Hz. The TDAQ system is organized in a three-level selection scheme, including a hardware-based first-level trigger and second- and third-level triggers implemented as software systems distributed on commodity hardware nodes. The second-level trigger operates over limited regions of the detector, the so-called Regions-of-Interest (RoI). The last selection step deals instead with complete events. In the current design, the second and third trigger levels are separate systems. While this architecture was successfully operated well beyond the original design goals, the accumulated experience stimulated interest to explore possible evolutions. One attractive direction is to merge the second and third t...

Electricity prices in a competitive market: a preliminary analysis of the deregulated Thai electricity industry

International Nuclear Information System (INIS)

Pipattanasomporn, M.; Ongsakul, W.; Pacudan, R.; Lefevre, T.

2000-01-01

The electricity industry throughout the world is currently undergoing a significant transition towards restructuring and deregulation. Following this new legislation, Thailand has initiated an institutional and structural reform with a belief that this could be the best way forward for the Thai electricity supply industry (ESI) to improve efficiency, lower electricity prices, and tackle financial debts. This paper presents an analysis of the extent to which prices for generation services in a competitive market may differ from regulated electricity prices, if competitive prices are based on marginal costs and regulated prices are based on average costs, by using Thailand as a case study. (Author)

Psychological Prices and Price Rigidity in Grocery Retailing: Analysis of German Scanner Data

OpenAIRE

Herrmann, Roland; Moeser, Anke

2005-01-01

A substantial degree of price rigidity has been reported for branded foods in various studies with scanner data. One possible explanation for price rigidity is the existence of psychological pricing points. We analyze to which extent psychological pricing plays a role in grocery retailing and whether it contributes to price rigidity of branded foods in Germany. Psychological pricing defined here as just-below-the-round-figure-pricing is empirically analyzed with scanner data of weekly prices ...

Value-based pricing

OpenAIRE

Netseva-Porcheva Tatyana

2010-01-01

The main aim of the paper is to present the value-based pricing. Therefore, the comparison between two approaches of pricing is made - cost-based pricing and value-based pricing. The 'Price sensitively meter' is presented. The other topic of the paper is the perceived value - meaning of the perceived value, the components of perceived value, the determination of perceived value and the increasing of perceived value. In addition, the best company strategies in matrix 'value-cost' are outlined. .

How do minimum cigarette price laws affect cigarette prices at the retail level?

Science.gov (United States)

Feighery, E C; Ribisl, K M; Schleicher, N C; Zellers, L; Wellington, N

2005-04-01

Half of US states have minimum cigarette price laws that were originally passed to protect small independent retailers from unfair price competition with larger retailers. These laws prohibit cigarettes from being sold below a minimum price that is set by a formula. Many of these laws allow cigarette company promotional incentives offered to retailers, such as buydowns and master-type programmes, to be calculated into the formula. Allowing this provision has the potential to lower the allowable minimum price. This study assesses whether stores in states with minimum price laws have higher cigarette prices and lower rates of retailer participation in cigarette company promotional incentive programmes. Retail cigarette prices and retailer participation in cigarette company incentive programmes in 2001 were compared in eight states with minimum price laws and seven states without them. New York State had the most stringent minimum price law at the time of the study because it excluded promotional incentive programmes in its price setting formula; cigarette prices in New York were compared to all other states included in the study. Cigarette prices were not significantly different in our sample of US states with and without cigarette minimum price laws. Cigarette prices were significantly higher in New York stores than in the 14 other states combined. Most existing minimum cigarette price laws appear to have little impact on the retail price of cigarettes. This may be because they allow the use of promotional programmes, which are used by manufacturers to reduce cigarette prices. New York's strategy to disallow these types of incentive programmes may result in higher minimum cigarette prices, and should also be explored as a potential policy strategy to control cigarette company marketing practices in stores. Strict cigarette minimum price laws may have the potential to reduce cigarette consumption by decreasing demand through increased cigarette prices and reduced

48 CFR 5416.203 - Fixed-price contracts with economic price adjustment.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 7 2010-10-01 2010-10-01 false Fixed-price contracts with economic price adjustment. 5416.203 Section 5416.203 Federal Acquisition Regulations System DEFENSE LOGISTICS AGENCY, DEPARTMENT OF DEFENSE TYPES OF CONTRACTS Fixed Price Contracts 5416.203 Fixed-price...

Relative Pricing of Publicly Traded U.S. Electric Utility Companies

Science.gov (United States)

Jewczyn, Nicholas Stephen

In the financial turmoil of 2008, U.S. firms reported debt-ratios that differed from the debt-ratios calculated from balance sheets. The problem is that investors bought common stock expecting initial investment return and lost money when companies delisted. The purpose of this quantitative study was to determine sample securities pricing with the application of synthetic assets and debt accrued. Addressed in the research questions was whether those securities were (a) underpriced compared with return-on-assets (ROA), (b) overpriced compared with ROA, (c) a debt-ratio higher than 60% and also overpriced, (d) underpriced with a synthetic asset added, or (e) related by relative pricing to variant pricing and market capitalization. The study's base theory was Pan's efficient market hypothesis (EMH) of security price prediction of market prices versus model prices. The data from the financial statements of 16 publicly traded U.S. electric utility companies were analyzed via correlations and multiple regression analyses to determine securities pricing and suitability. The findings from the analyses of the sample's variables of market price, book value, market-to-book, and study constructed variables from those variable data were statistically significant. The alternate hypotheses were accepted for all 5 research questions since the analytical operationalization of the hypothetical constructs led to significant relationships. Results suggest that the use of more pricing determinants in securities evaluation may lead to investors losing less money and earning the expected returns for a more efficient capital market, leading to a stronger economy and macroeconomic stability.

Trigger finger

Science.gov (United States)

... digit; Trigger finger release; Locked finger; Digital flexor tenosynovitis ... cut or hand Yellow or green drainage from the cut Hand pain or discomfort Fever If your trigger finger returns, call your surgeon. You may need another surgery.

Combined electrocardiography- and respiratory-triggered CT of the lung to reduce respiratory misregistration artifacts between imagining slabs in free-breathing children: Initial experience

International Nuclear Information System (INIS)

Goo, Hyun Woo; Allmendinger, Thomas

2017-01-01

Cardiac and respiratory motion artifacts degrade the image quality of lung CT in free-breathing children. The aim of this study was to evaluate the effect of combined electrocardiography (ECG) and respiratory triggering on respiratory misregistration artifacts on lung CT in free-breathing children. In total, 15 children (median age 19 months, range 6 months–8 years; 7 boys), who underwent free-breathing ECG-triggered lung CT with and without respiratory-triggering were included. A pressure-sensing belt of a respiratory gating system was used to obtain the respiratory signal. The degree of respiratory misregistration artifacts between imaging slabs was graded on a 4-point scale (1, excellent image quality) on coronal and sagittal images and compared between ECG-triggered lung CT studies with and without respiratory triggering. A p value < 0.05 was considered significant. Lung CT with combined ECG and respiratory triggering showed significantly less respiratory misregistration artifacts than lung CT with ECG triggering only (1.1 ± 0.4 vs. 2.2 ± 1.0, p = 0.003). Additional respiratory-triggering reduces respiratory misregistration artifacts on ECG-triggered lung CT in free-breathing children

Combined electrocardiography- and respiratory-triggered CT of the lung to reduce respiratory misregistration artifacts between imagining slabs in free-breathing children: Initial experience

Energy Technology Data Exchange (ETDEWEB)

Goo, Hyun Woo [Dept. of Radiology and Research Institute of Radiology, University of Ulsan College of Medicine, Asan Medical Center, Seoul (Korea, Republic of); Allmendinger, Thomas [Siemens Healthcare, GmbH, Computed Tomography Division, Forchheim (Germany)

2017-09-15

Cardiac and respiratory motion artifacts degrade the image quality of lung CT in free-breathing children. The aim of this study was to evaluate the effect of combined electrocardiography (ECG) and respiratory triggering on respiratory misregistration artifacts on lung CT in free-breathing children. In total, 15 children (median age 19 months, range 6 months–8 years; 7 boys), who underwent free-breathing ECG-triggered lung CT with and without respiratory-triggering were included. A pressure-sensing belt of a respiratory gating system was used to obtain the respiratory signal. The degree of respiratory misregistration artifacts between imaging slabs was graded on a 4-point scale (1, excellent image quality) on coronal and sagittal images and compared between ECG-triggered lung CT studies with and without respiratory triggering. A p value < 0.05 was considered significant. Lung CT with combined ECG and respiratory triggering showed significantly less respiratory misregistration artifacts than lung CT with ECG triggering only (1.1 ± 0.4 vs. 2.2 ± 1.0, p = 0.003). Additional respiratory-triggering reduces respiratory misregistration artifacts on ECG-triggered lung CT in free-breathing children.

Energy pricing. Economics and principles

Energy Technology Data Exchange (ETDEWEB)

Conkling, Roger L. [Portland Univ., OR (United States). School of Business Administration

2011-07-01

This book describes the processes through which rates for energy consumption are derived, ranging from initial analyses of the supply and demand parameters to the final forms and levels of end-use consumer prices. The author argues against aggressive accounting procedures, and suggests criteria for choosing firm's position on pending public policy issues. A handbook on energy formulae for non-professionals is included in the book. The author is adjunct professor at the University of Portland. (orig.)

48 CFR 16.203 - Fixed-price contracts with economic price adjustment.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Fixed-price contracts with economic price adjustment. 16.203 Section 16.203 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION CONTRACTING METHODS AND CONTRACT TYPES TYPES OF CONTRACTS Fixed-Price Contracts 16.203 Fixed-price...

Potential impacts of electricity price changes on price formation in the economy: a social accounting matrix price modeling analysis for Turkey

International Nuclear Information System (INIS)

Akkemik, K. Ali

2011-01-01

Recent reforms in the Turkish electricity sector since 2001 aim to introduce a tariff system that reflects costs. This is expected to affect the production and consumer prices of electricity. The changes in electricity prices are then reflected in production costs in other segments of the economy. Subsequently, producer and consumer prices will be affected. The potential impact of the changes in electricity prices that the ongoing electricity reforms in Turkey will bring about may have important implications on the price formation in economic activities and the cost of living for households. This paper evaluates the potential impacts of changes in electricity prices from a social accounting matrix (SAM) price modeling perspective. It is found that based on the estimated price multipliers that prices in the energy-producing sectors, mining, and iron and steel manufacturing sectors would be affected more severely than the remaining sectors of the economy. Consumer prices are affected slightly less than producer prices. - Research Highlights: → The impact of electricity generation costs on prices in other sectors is modeled. → A micro-SAM emphasizing electricity supply is constructed using 2002 I-O tables. → Energy, mining, and steel sectors are more responsive to electricity costs. → Living costs are less responsive to electricity cost changes than producer prices.

Global strategies to reduce the price of antiretroviral medicines: evidence from transactional databases.

Science.gov (United States)

Waning, Brenda; Kaplan, Warren; King, Alexis C; Lawrence, Danielle A; Leufkens, Hubert G; Fox, Matthew P

2009-07-01

To estimate the impact of global strategies, such as pooled procurement arrangements, third-party price negotiation and differential pricing, on reducing the price of antiretrovirals (ARVs), which currently hinders universal access to HIV/AIDS treatment. We estimated the impact of global strategies to reduce ARV prices using data on 7253 procurement transactions (July 2002-October 2007) from databases hosted by WHO and the Global Fund to Fight AIDS, Tuberculosis and Malaria. For 19 of 24 ARV dosage forms, we detected no association between price and volume purchased. For the other five ARVs, high-volume purchases were 4-21% less expensive than medium- or low-volume purchases. Nine of 13 generic ARVs were priced 6-36% lower when purchased under the Clinton Foundation HIV/AIDS Initiative (CHAI). Fifteen of 18 branded ARVs were priced 23-498% higher for differentially priced purchases compared with non-CHAI generic purchases. However, two branded, differentially priced ARVs were priced 63% and 73% lower, respectively, than generic non-CHAI equivalents. Large purchase volumes did not necessarily result in lower ARV prices. Although current plans for pooled procurement will further increase purchase volumes, savings are uncertain and should be balanced against programmatic costs. Third-party negotiation by CHAI resulted in lower generic ARV prices. Generics were less expensive than differentially priced branded ARVs, except where little generic competition exists. Alternative strategies for reducing ARV prices, such as streamlining financial management systems, improving demand forecasting and removing barriers to generics, should be explored.

Value-based pricing

Directory of Open Access Journals (Sweden)

Netseva-Porcheva Tatyana

2010-01-01

Full Text Available The main aim of the paper is to present the value-based pricing. Therefore, the comparison between two approaches of pricing is made - cost-based pricing and value-based pricing. The 'Price sensitively meter' is presented. The other topic of the paper is the perceived value - meaning of the perceived value, the components of perceived value, the determination of perceived value and the increasing of perceived value. In addition, the best company strategies in matrix 'value-cost' are outlined. .

Transfer Pricing

DEFF Research Database (Denmark)

Rohde, Carsten; Rossing, Christian Plesner

trade internally as the units have to decide what prices should be paid for such inter-unit transfers. One important challenge is to uncover the consequences that different transfer prices have on the willingness in the organizational units to coordinate activities and trade internally. At the same time...... the determination of transfer price will affect the size of the profit or loss in the organizational units and thus have an impact on the evaluation of managers‟ performance. In some instances the determination of transfer prices may lead to a disagreement between coordination of the organizational units...

Control, Test and Monitoring Software Framework for the ATLAS Level-1 Calorimeter Trigger

CERN Document Server

Achenbach, R; Aharrouche, M; Andrei, V; Åsman, B; Barnett, B M; Bauss, B; Bendel, M; Bohm, C; Booth, J R A; Bracinik, J; Brawn, I P; Charlton, D G; Childers, J T; Collins, N J; Curtis, C J; Davis, A O; Eckweiler, S; Eisenhandler, E F; Faulkner, P J W; Fleckner, J; Föhlisch, F; Gee, C N P; Gillman, A R; Goringer, C; Groll, M; Hadley, D R; Hanke, P; Hellman, S; Hidvegi, A; Hillier, S J; Johansen, M; Kluge, E E; Kühl, T; Landon, M; Lendermann, V; Lilley, J N; Mahboubi, K; Mahout, G; Meier, K; Middleton, R P; Moa, T; Morris, J D; Müller, F; Neusiedl, A; Ohm, C; Oltmann, B; Perera, V J O; Prieur, D P F; Qian, W; Rieke, S; Rühr, F; Sankey, D P C; Schäfer, U; Schmitt, K; Schultz-Coulon, H C; Silverstein, S; Sjölin, J; Staley, R J; Stamen, R; Stockton, M C; Tan, C L A; Tapprogge, S; Thomas, J P; Thompson, P D; Watkins, P M; Watson, A; Weber, P; Wessels, M; Wildt, M

2008-01-01

The ATLAS first-level calorimeter trigger is a hardware-based system designed to identify high-pT jets, electron/photon and tau candidates and to measure total and missing ET in the ATLAS calorimeters. The complete trigger system consists of over 300 customdesignedVME modules of varying complexity. These modules are based around FPGAs or ASICs with many configurable parameters, both to initialize the system with correct calibrations and timings and to allow flexibility in the trigger algorithms. The control, testing and monitoring of these modules requires a comprehensive, but well-designed and modular, software framework, which we will describe in this paper.

The discount framing in different pricing schemes: Combined versus partitioned pricing

OpenAIRE

Matthew Lee; Dr. Frankie Law

2015-01-01

Pricing is one of the most sophisticated and critical issues which managers have to face. It is obvious that managers have been undervaluing the behavioural and psychological perspective of pricing for many years. With a clear understanding of behavioural pricing, managers are able to make extra profit for their firms. In the current study, it was interesting to investigating exactly how manipulation of discounts in the combined pricing scheme and partitioned pricing scheme affects the purcha...

Induced innovation, energy prices, and the environment

Science.gov (United States)

Popp, David Clifford

The process of developing new technologies is a central question for economic theory as well as for public policy in many areas. For example, the development of cleaner, more efficient energy technologies will play an important role in reducing the threat of global warming. To study how technology evolves over time, this dissertation uses patent data on energy innovations from 1970 to 1991 to examine the impact of energy prices on energy-efficient innovations. Before this can be done, however, information on supply-side factors which influence innovation is also needed. In the case of innovation, supply-side factors are the usefulness of the existing base of scientific knowledge. Patent citations are used for this purpose. Subsequent citations to patents granted each year since 1970 are used to show that the returns to research and development (R&D) fall over time for most of the technologies studied. These estimates are then combined with data on demand-side factors, such as energy prices, to estimate a model of induced innovation in energy technologies. Both energy prices and the supply of knowledge are found to have strongly significant positive effects on innovation. Next, the Yale Technology Concordance (YTC), which maps patents to the industries in which they are used, is employed to construct a stock of energy-related knowledge for 14 energy intensive industries. The effect of changes in this stock on energy consumption in these industries is estimated. On average, the present value of energy savings resulting from a new patent is eight million dollars, with the maximum savings coming about five years after the initial patent application. Finally, the results of each regression are combined to simulate the impact of a ten percent energy tax. Initially, simple factor substitution due to the price change has the largest effect. However, because of the cumulative nature of R&D, induced innovation has a much larger effect than factor substitution in the long run

Sensitivity of price elasticity of demand to aggregation, unobserved heterogeneity, price trends, and price endogeneity: Evidence from U.S. Data

International Nuclear Information System (INIS)

Miller, Mark; Alberini, Anna

2016-01-01

Price elasticity estimates of residential electricity demand vary widely across the energy economics and policy literature. In this paper, we seek to explain these findings using three nationwide datasets from the U.S. – the American Housing Survey, Forms EIA-861, and the Residential Energy Consumption Survey. We examine the role of the sample period, level of aggregation, use of panel data, use of instrumental variables, and inclusion of housing characteristics and capital stock. Our findings suggest that price elasticities have remained relatively constant over time. Upon splitting our panel datasets into annual cross sections, we do observe a negative relationship between price elasticities and the average price. Whether prices are rising or falling appears to have little effect on our estimates. We also find that aggregating our data can result in both higher and lower price elasticity estimates, depending on the dataset used, and that controlling for unit-level fixed effects with panel data generally results in more inelastic demand functions. Addressing the endogeneity of price and/or measurement error in price with instrumental variables has a small but noticeable effect on the price elasticities. Finally, controlling for housing characteristics and capital stock produces a lower price elasticity. - Highlights: • The price elasticity of residential electricity demand varies widely across studies. • We use three large datasets from the US to examine reasons for such wide variation. • Some assessed effects include aggregation, unobserved heterogeneity, and price trends. • Correcting for such issues can change the estimated price elasticity by 50–100%.

MARKET ECONOMICS PRICING PARTICULARS

Directory of Open Access Journals (Sweden)

V. I. Parshin

2011-01-01

Full Text Available The price performs several economic functions: accounting, stimulation, distribution, demand and offer balancing, serving as production site rational choice criterion, information. Most important pricing principles are: price scientific and purpose-aimed substantiation, single pricing and price control process. Pricing process factors are external, internal, basic (independent on money-market, market-determined and controlling. Different pricing methods and models are to be examined, recommendations on practical application of those chosen are to be written.

Target Price Accuracy

Directory of Open Access Journals (Sweden)

Alexander G. Kerl

2011-04-01

Full Text Available This study analyzes the accuracy of forecasted target prices within analysts’ reports. We compute a measure for target price forecast accuracy that evaluates the ability of analysts to exactly forecast the ex-ante (unknown 12-month stock price. Furthermore, we determine factors that explain this accuracy. Target price accuracy is negatively related to analyst-specific optimism and stock-specific risk (measured by volatility and price-to-book ratio. However, target price accuracy is positively related to the level of detail of each report, company size and the reputation of the investment bank. The potential conflicts of interests between an analyst and a covered company do not bias forecast accuracy.

How to pay for waste collection? Taxes, charges, user fees or market prices

International Nuclear Information System (INIS)

Ascari, S.; Universita Commerciale Luigi Bocconi, Milan

1995-01-01

Increased environmental awareness leads to the reexamination of the waste collection charging problem, where the public nature of the service is challenged by their private utility, while economic instruments should also be aimed at pursuing environmental goals. Hence the case for applying the benefit principle of taxation is discussed. The choice of payment vehicle for waste collection services is analysed first as an environmental instrument, where unit pricing is compared with recycling subsidies and landfill levies; and as a local public finance tool, aimed at triggering utility efficiency, budget transparency, and equity. Alternative solutions like lump sum and parametric charges (in particular, the opportunity of charging waste collection by local property taxes) are also seen from these perspectives. Finally, price structure and the case for fees raised directly by the franchise instead of local public charges are discussed as a means of improving productive efficiency and combating tax evasion

Topological Trigger Developments

CERN Multimedia

Likhomanenko, Tatiana

2015-01-01

The main b-physics trigger algorithm used by the LHCb experiment is the so-called topological trigger. The topological trigger selects vertices which are a) detached from the primary proton-proton collision and b) compatible with coming from the decay of a b-hadron. In the LHC Run 1, this trigger utilized a custom boosted decision tree algorithm, selected an almost 100% pure sample of b-hadrons with a typical efficiency of 60-70%, and its output was used in about 60% of LHCb papers. This talk presents studies carried out to optimize the topological trigger for LHC Run 2. In particular, we have carried out a detailed comparison of various machine learning classifier algorithms, e.g., AdaBoost, MatrixNet and uBoost. The topological trigger algorithm is designed to select all "interesting" decays of b-hadrons, but cannot be trained on every such decay. Studies have therefore been performed to determine how to optimize the performance of the classification algorithm on decays not used in the training. These inclu...

NAMA 80/20 DEFERRED PAYMENT INITIATIVE PARTICIPATION FORM

OpenAIRE

2012-01-01

Brochure detailing the Deferred Payment Initiative key features and information on how to apply for the initiative: "NAMA has launched a Deferred Payment Initiative (the ‘Initiative’) on a pilot basis. The Initiative is aimed at potential owner-occupiers who are interested in purchasing residential property but are concerned at the risk of further price declines."

Studies of scintillator-based muon triggers in CMS

Energy Technology Data Exchange (ETDEWEB)

Scheuch, Florian

2017-03-16

The CMS experiment at the LHC will face challenges due to upgrades and improvements of the LHC in future. Especially, the upgrade towards the high luminosity LHC in 2025 with a foreseen center of mass energy of 14 TeV, an instantaneous luminosity of O(10{sup 35} cm{sup -2} s{sup -1}) and the concurrent aging of and radiation damage to the detectors will have an impact on the fast CMS trigger system and the CMS sub-detectors. Especially, the impact on the CMS muon system - and more particular on the drift tube (DT) system - is of vital interest. In order to respond to these challenges the performance of the DT system as part of the L1 muon trigger and the use of a scintillator-based muon trigger as supportive detector are analyzed in this thesis. First, the concept of such a scintillator-based muon trigger, the Muon Track fast Tag (MTT), as support for the DT trigger system, is presented. The conducted related R and D is described. Exploiting the similarity of the MTT concept and the existing hadron outer calorimeter (HO), studies are presented that evaluate the impact of the challenges on the L1 Trigger as well as the potential of the HO detector as a possible response to these challenges. It is shown that the HO detector can be of help in case of DT detector failures and it is able to improve the muon recognition of the DT detector in the L1 Trigger. The reduction of L1 muon ambiguities with the HO detector is found to be not feasible. The results, that were obtained using HO, are extrapolated towards the MTT concept. The MTT concept is rated as valuable backup solution that, however, will not increase the benefit above the HO detector in the presented application scenarios. After a summary of the performed analyses, the conclusion is drawn, that the HO detector should be included into the L1 Trigger decision. The initiated upgrade process of the HO integration into the L1 muon trigger, that was motivated by these studies, is presented. The preceding upgrade of HO

Imperfect price-reversibility of US gasoline demand: Asymmetric responses to price increases and declines

International Nuclear Information System (INIS)

Gately, D.

1992-01-01

This paper describes a framework for analyzing the imperfect price-reversibility (hysteresis) of oil demand. The oil demand reductions following the oil price increases of the 1970s will not be completely reversed by the price cuts of the 1980s, nor is it necessarily true that these partial demand reversals themselves will be reversed exactly by future price increases. The author decomposes price into three monotonic series: price increases to maximum historic levels, price cuts, and price recoveries (increases below historic highs). He would expect that the response to price cuts would be no greater than to price recoveries, which in turn would be no greater than for increases in maximum historic price. For evidence of imperfect price-reversibility, he tests econometrically the following US data: vehicle miles per driver, the fuel efficiency of the automobile fleet, and gasoline demand per driver. In each case, the econometric results allow him to reject the hypothesis of perfect price-reversibility. The data show smaller response to price cuts than to price increases. This has dramatic implications for projections of gasoline and oil demand, especially under low-price assumptions. 26 refs., 13 figs., 3 tabs

Tradable Driving Credits : car users' responses towards an innovative pricing measure in the Netherlands and China

NARCIS (Netherlands)

Dogterom, N.J.

2017-01-01

Car traffic volumes continue to increase rapidly worldwide, leading to steadily rising levels of congestion and harmful emissions in many urbanised areas. Transport researchers have long been convinced of the power of pricing solutions to mitigate these problems. However, pricing initiatives have

Pharmaceutical policies: effects of reference pricing, other pricing, and purchasing policies.

Science.gov (United States)

Acosta, Angela; Ciapponi, Agustín; Aaserud, Morten; Vietto, Valeria; Austvoll-Dahlgren, Astrid; Kösters, Jan Peter; Vacca, Claudia; Machado, Manuel; Diaz Ayala, Diana Hazbeydy; Oxman, Andrew D

2014-10-16

Pharmaceuticals are important interventions that could improve people's health. Pharmaceutical pricing and purchasing policies are used as cost-containment measures to determine or affect the prices that are paid for drugs. Internal reference pricing establishes a benchmark or reference price within a country which is the maximum level of reimbursement for a group of drugs. Other policies include price controls, maximum prices, index pricing, price negotiations and volume-based pricing. To determine the effects of pharmaceutical pricing and purchasing policies on health outcomes, healthcare utilisation, drug expenditures and drug use. We searched the Cochrane Central Register of Controlled Trials (CENTRAL), part of The Cochrane Library (including the Effective Practice and Organisation of Care Group Register) (searched 22/10/2012); MEDLINE In-Process & Other Non-Indexed Citations and MEDLINE, Ovid (searched 22/10/2012); EconLit, ProQuest (searched 22/10/2012); PAIS International, ProQuest (searched 22/10/2012); World Wide Political Science Abstracts, ProQuest (searched 22/10/2012); INRUD Bibliography (searched 22/10/2012); Embase, Ovid (searched 14/12/2010); NHSEED, part of The Cochrane Library (searched 08/12/2010); LILACS, VHL (searched 14/12/2010); International Political Science Abstracts (IPSA), Ebsco (searched (17/12/2010); OpenSIGLE (searched 21/12/10); WHOLIS, WHO (searched 17/12/2010); World Bank (Documents and Reports) (searched 21/12/2010); Jolis (searched 09/10/2011); Global Jolis (searched 09/10/2011) ; OECD (searched 30/08/2005); OECD iLibrary (searched 30/08/2005); World Bank eLibrary (searched 21/12/2010); WHO - The Essential Drugs and Medicines web site (browsed 21/12/2010). Policies in this review were defined as laws; rules; financial and administrative orders made by governments, non-government organisations or private insurers. To be included a study had to include an objective measure of at least one of the following outcomes: drug use

International positioning of South African electricity prices and commodity differentiated pricing

Directory of Open Access Journals (Sweden)

George A. Thopila

2013-07-01

Full Text Available The South African electricity industry has seen a dramatic increase in prices over the past 3 years. This increase has been blanketed across all sectors and is based on a number of factors such as sector, usage and, in the case of domestic pricing, suburb. The cost of electricity in South Africa, particularly to the industrial sector, has been among the lowest in the world. In this paper, we analyse the recent price increases in the South African electricity sector and discuss the price determination mechanism employed by Eskom, South Africa's electricity provider. We also analyse the revenue and sales of Eskom and review the electricity price from an international perspective. The concept of differential pricing and international benchmarking is analysed as a possibility for the South African industrial electricity industry, so that all sectors are not adversely affected by across-the-board increases. Our aim is to raise the question of whether South Africa's electricity prices are in line with international increases and to suggest the possibility of differentiated prices in the local electricity sector.

Quantifying immediate price impact of trades based on the k-shell decomposition of stock trading networks

Science.gov (United States)

Xie, Wen-Jie; Li, Ming-Xia; Xu, Hai-Chuan; Chen, Wei; Zhou, Wei-Xing; Stanley, H. Eugene

2016-10-01

Traders in a stock market exchange stock shares and form a stock trading network. Trades at different positions of the stock trading network may contain different information. We construct stock trading networks based on the limit order book data and classify traders into k classes using the k-shell decomposition method. We investigate the influences of trading behaviors on the price impact by comparing a closed national market (A-shares) with an international market (B-shares), individuals and institutions, partially filled and filled trades, buyer-initiated and seller-initiated trades, and trades at different positions of a trading network. Institutional traders professionally use some trading strategies to reduce the price impact and individuals at the same positions in the trading network have a higher price impact than institutions. We also find that trades in the core have higher price impacts than those in the peripheral shell.

Triggering Mechanism for Neutron Induced Single-Event Burnout in Power Devices

Science.gov (United States)

Shoji, Tomoyuki; Nishida, Shuichi; Hamada, Kimimori

2013-04-01

Cosmic ray neutrons can trigger catastrophic failures in power devices. It has been reported that parasitic transistor action causes single-event burnout (SEB) in power metal-oxide-semiconductor field-effect transistors (MOSFETs) and insulated gate bipolar transistors (IGBTs). However, power diodes do not have an inherent parasitic transistor. In this paper, we describe the mechanism triggering SEB in power diodes for the first time using transient device simulation. Initially, generated electron-hole pairs created by incident recoil ions generate transient current, which increases the electron density in the vicinity of the n-/n+ boundary. The space charge effect of the carriers leads to an increase in the strength of the electric field at the n-/n+ boundary. Finally, the onset of impact ionization at the n-/n+ boundary can trigger SEB. Furthermore, this failure is closely related to diode secondary breakdown. It was clarified that the impact ionization at the n-/n+ boundary is a key point of the mechanism triggering SEB in power devices.

What Factors Affect the Prices of Low-Priced U.S. Solar PV Systems?

Energy Technology Data Exchange (ETDEWEB)

Nemet, Gregory F. [Univ. of Wisconsin, Madison, WI (United States); Mercator Research Inst. on Global Commons and Climate Change, Berlin (Germany); O' Shaughnessy, Eric [National Renewable Energy Lab. (NREL), Golden, CO (United States); Wiser, Ryan [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Darghouth, Naïm R. [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Barbose, Galen [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Gillingham, Ken [Yale Univ., New Haven, CT (United States); Rai, Varun [Univ. of Texas, Austin, TX (United States)

2016-08-01

The price of solar PV systems has declined rapidly, yet there are some much lower-priced systems than others. This study explores the factors leading some systems to be so much lower priced than others. Using a data set of 42,611 residential-scale PV systems installed in the U.S. in 2013, we use quantile regressions to estimate the importance of factors affecting the installed prices for low-priced (LP) systems (those at the 10th percentile) in comparison to median-priced systems. We find that the value of solar to consumers–a variable that accounts for subsidies, electric rates, and PV generation levels–is associated with lower prices for LP systems but higher prices for median priced systems. Conversely, systems installed in new home construction are associated with lower prices at the median but higher prices for LP. Other variables have larger cost-reducing effects on LP than on median priced systems: systems installed in Arizona and Florida, as well as commercial and thin film systems. In contrast, the following have a smaller effect on prices for LP systems than median priced systems: tracking systems, self-installations, systems installed in Massachusetts, the system size, and installer experience. These results highlight the complex factors at play that lead to LP systems and shed light into how such LP systems can come about.

Carbon pricing. Mobilizing non-state actors on a global issue with local implications

International Nuclear Information System (INIS)

Afriat, Marion; Vaidyula; Manasvini; Alberola, Emilie

2016-09-01

An effective carbon price should send economic and political signals that shift public and private investment to increase the competitiveness of low-carbon solutions (fuels switching, deployment of renewable energy, etc.) and stay below the 2 deg. C trajectory. In 2016, over 40 countries and 20 provinces and cities have established an explicit price on carbon through carbon taxes or emissions trading systems. The choice of the carbon pricing instrument depends largely on the national or local circumstances and priorities. Carbon pricing should not be a stand-alone policy and should be part of a coherent energy and climate policy framework in order to achieve an effective low-carbon transition in all economic sectors. In 2015, $26 billion in government revenue was generated in the world through carbon pricing initiatives. These revenues can be leveraged to yield economic and environmental benefits at the national and local level. The Paris Agreement provides the necessary framework to facilitate the uptake of carbon pricing

Upgrade of the ATLAS Level-1 Calorimeter Trigger

CERN Document Server

AUTHOR|(CDS)2072874

2014-01-01

The Level-1 calorimeter trigger (L1Calo) operated successfully during the first data taking phase of the ATLAS experiment at the LHC. Facing the new challenges posed by the upcoming increases of the LHC beam energy and luminosity, and from the experience of the previous running, a series of upgrades is planned for L1Calo. The initial upgrade phase in 2013-14 includes substantial improvements to the analogue and digital signal processing to cope with baseline shifts due to signal pile-up. Additionally a newly introduced system will receive real-time data from both the upgraded L1Calo and L1Muon trigger to perform trigger algorithms based on entire event topologies. During the second upgrade phase in 2018-19 major parts of L1Calo will be rebuilt in order to exploit a tenfold increase in the available calorimeter data granularity compared to that of the current system. The contribution gives an overview of the existing system and the lessons learned during the first period of LHC data taking. Based on these, the...

Upgrade of the ATLAS Level-1 Calorimeter Trigger

CERN Document Server

Mueller, Felix; The ATLAS collaboration

2014-01-01

The Level-1 calorimeter trigger (L1Calo) operated successfully during the first data taking phase of the ATLAS experiment at the LHC. Based on the lessons learned , a series of upgrades is planned for L1Calo to face the new challenges posed by the upcoming increases of the LHC beam energy and luminosity. The initial upgrade phase in 2013-14 includes substantial improvements to the analogue and digital signal processing to cope with baseline shifts due to signal pile-up. Additionally a newly introduced system will receive real-time data from both the upgraded L1Calo and L1Muon trigger to perform trigger algorithms based on entire event topologies. During the second upgrade phase in 2018-19 major parts of L1Calo will be rebuilt in order to exploit a tenfold increase in the available calorimeter data granularity compared to that of the current system. In this contribution we present the lessons learned during the first period of LHC data taking. Based on these we discuss the expected performance improvements tog...

Do higher-priced generic medicines enjoy a competitive advantage under reference pricing?

Science.gov (United States)

Puig-Junoy, Jaume

2012-11-01

In many countries with generic reference pricing, generic producers and distributors compete by means of undisclosed discounts offered to pharmacies in order to reduce acquisition costs and to induce them to dispense their generic to patients in preference over others. The objective of this article is to test the hypothesis that under prevailing reference pricing systems for generic medicines, those medicines sold at a higher consumer price may enjoy a competitive advantage. Real transaction prices for 179 generic medicines acquired by pharmacies in Spain have been used to calculate the discount rate on acquisition versus reimbursed costs to pharmacies. Two empirical hypotheses are tested: the discount rate at which pharmacies acquire generic medicines is higher for those pharmaceutical presentations for which there are more generic competitors; and, the discount rate at which pharmacies acquire generic medicines is higher for those pharmaceutical forms for which the consumer price has declined less in relation to the consumer price of the brand drug before generic entry (higher-priced generic medicines). An average discount rate of 39.3% on acquisition versus reimbursed costs to pharmacies has been observed. The magnitude of the discount positively depends on the number of competitors in the market. The higher the ratio of the consumer price of the generic to that of the brand drug prior to generic entry (i.e. the smaller the price reduction of the generic in relation to the brand drug), the larger the discount rate. Under reference pricing there is intense price competition among generic firms in the form of unusually high discounts to pharmacies on official ex-factory prices reimbursed to pharmacies. However, this effect is highly distorting because it favours those medicines with a higher relative price in relation to the brand price before generic entry.

Regulation of Pharmaceutical Prices

DEFF Research Database (Denmark)

Kaiser, Ulrich; Mendez, Susan J.; Rønde, Thomas

On April 1, 2005, Denmark changed the way references prices, a main determinant of reimbursements for pharmaceutical purchases, are calculated. The previous reference prices, which were based on average EU prices, were substituted to minimum domestic prices. Novel to the literature, we estimate...... the joint eects of this reform on prices and quantities. Prices decreased more than 26 percent due to the reform, which reduced patient and government expenditures by 3.0 percent and 5.6 percent, respectively, and producer revenues by 5.0 percent. The prices of expensive products decreased more than...

A VMEbus interface for multi-detector trigger and control system

CERN Document Server

Gong Pei Rong; Litroco, P

2002-01-01

MUSE (MUltiplicity SElector) is the trigger and control system of CHIMERA, a 4 pi charged particles detector. Initialization of MUSE can be performed via VMEbus. The author describes the design of VMEbus interface and functional module in MUSE, and briefs an application of MUSE

The Central Trigger Processor (CTP)

CERN Multimedia

Franchini, Matteo

2016-01-01

The Central Trigger Processor (CTP) receives trigger information from the calorimeter and muon trigger processors, as well as from other sources of trigger. It makes the Level-1 decision (L1A) based on a trigger menu.

ISOTDAQ - where students learn about trigger and data acquisition

CERN Multimedia

CERN Bulletin

2011-01-01

Where can students learn to implement a good trigger and to design the data acquisition system for today’s increasingly complex experiments? Universities rarely include classes on such specific topics. The ISOTDAQ School trains students and helps them gain hands-on experience of trigger systems, data-acquisition hardware and software, and data-transfer technologies.   One of the commercially available FPGA development boards from Altera. This was used in one of the practical exercises at ISOTDAQ2011 to teach students the principles of FPGA programming. The second International School of Trigger and Data Acquisition (ISOTDAQ) was held from 9 to 16 February at the Physics Department of Rome University, ‘La Sapienza’. The School was jointly organised and sponsored by CERN, INFN, ACEOLE (a Marie Curie Initial Training Network at CERN), and National Instruments. This year almost fifty students took part in the School. “Leading experts in the field gave lectures ...

Dating breaks for global crude oil prices and their volatility : a possible price band for global crude prices

International Nuclear Information System (INIS)

Liao, H.C.; Suen, Y.B.

2006-01-01

Global oil prices are among the most visible of all historical commodity records. This paper presented and applied the multiple structural change method developed by Baie and Perron (BP) to investigate daily West Texas Intermediate (WTI) spot prices from January 2, 1986 to December 30, 2004 as collected by the United States Department of Energy. In particular, the BP statistical method was used to estimate the number and location of structural breaks in global oil price series and their volatility. The objective was to precisely determine the exact structural break in the global oil market. The breaks for both the price of oil and its volatility were successfully located and dated. It was shown that the break for the structural change in oil prices occurred on November 12, 1999, where the average oil price was U$19.02 per barrel previously, and U$30.90 afterwards. Two breaks for oil price volatility were also found, the first in March 1991 and the other in December 1995. The volatility was measured in 3 regimes by dividing these 2 breaks. It was suggested that since oil prices increased more rapidly during the second half of 2004 and 2005, it is possible that another structural break may be found during this period. However, it wa cautioned that it is difficult to find another significant break until more data becomes available, particularly for periods characterized by a rapid increase in price. 24 refs., 5 tabs., 2 figs

The Trigger Processor and Trigger Processor Algorithms for the ATLAS New Small Wheel Upgrade

CERN Document Server

Lazovich, Tomo; The ATLAS collaboration

2015-01-01

The ATLAS New Small Wheel (NSW) is an upgrade to the ATLAS muon endcap detectors that will be installed during the next long shutdown of the LHC. Comprising both MicroMegas (MMs) and small-strip Thin Gap Chambers (sTGCs), this system will drastically improve the performance of the muon system in a high cavern background environment. The NSW trigger, in particular, will significantly reduce the rate of fake triggers coming from track segments in the endcap not originating from the interaction point. We will present an overview of the trigger, the proposed sTGC and MM trigger algorithms, and the hardware implementation of the trigger. In particular, we will discuss both the heart of the trigger, an ATCA system with FPGA-based trigger processors (using the same hardware platform for both MM and sTGC triggers), as well as the full trigger electronics chain, including dedicated cards for transmission of data via GBT optical links. Finally, we will detail the challenges of ensuring that the trigger electronics can ...

Joint Dynamic Pricing of Multiple Perishable Products Under Consumer Choice

OpenAIRE

Yalç{\\i}n Akçay; Harihara Prasad Natarajan; Susan H. Xu

2010-01-01

In response to competitive pressures, firms are increasingly adopting revenue management opportunities afforded by advances in information and communication technologies. Motivated by these revenue management initiatives in industry, we consider a dynamic pricing problem facing a firm that sells given initial inventories of multiple substitutable and perishable products over a finite selling horizon. Because the products are substitutable, individual product demands are linked through consume...

An Empirical Analysis of IPO Under-Pricing: New Evidence from 2007 NASDAQ Stock Market

OpenAIRE

Wang, Zhijie

2008-01-01

Initial Public Offering (IPO) has been adopted by most firms when they are process of going public into the stock market. In most cases, the offering price of IPO is systematically lower than its closing price on the first trading day. Because of this, investors can enjoy great benefits by purchasing IPOs on the first trading day and sell them on the second trading day or few trading days later. This phenomenon is called IPO under-pricing and it has been extensively documented in almost every...

Surface-wave potential for triggering tectonic (nonvolcanic) tremor

Science.gov (United States)

Hill, D.P.

2010-01-01

Source processes commonly posed to explain instances of remote dynamic triggering of tectonic (nonvolcanic) tremor by surface waves include frictional failure and various modes of fluid activation. The relative potential for Love- and Rayleigh-wave dynamic stresses to trigger tectonic tremor through failure on critically stressed thrust and vertical strike-slip faults under the Coulomb-Griffith failure criteria as a function of incidence angle is anticorrelated over the 15- to 30-km-depth range that hosts tectonic tremor. Love-wave potential is high for strike-parallel incidence on low-angle reverse faults and null for strike-normal incidence; the opposite holds for Rayleigh waves. Love-wave potential is high for both strike-parallel and strike-normal incidence on vertical, strike-slip faults and minimal for ~45?? incidence angles. The opposite holds for Rayleigh waves. This pattern is consistent with documented instances of tremor triggered by Love waves incident on the Cascadia mega-thrust and the San Andreas fault (SAF) in central California resulting from shear failure on weak faults (apparent friction, ????? 0.2). However, documented instances of tremor triggered by surface waves with strike-parallel incidence along the Nankai megathrust beneath Shikoku, Japan, is associated primarily with Rayleigh waves. This is consistent with the tremor bursts resulting from mixed-mode failure (crack opening and shear failure) facilitated by near-lithostatic ambient pore pressure, low differential stress, with a moderate friction coefficient (?? ~ 0.6) on the Nankai subduction interface. Rayleigh-wave dilatational stress is relatively weak at tectonic tremor source depths and seems unlikely to contribute significantly to the triggering process, except perhaps for an indirect role on the SAF in sustaining tremor into the Rayleigh-wave coda that was initially triggered by Love waves.

Estimating the common trend rate of inflation for consumer prices and consumer prices excluding food and energy prices

OpenAIRE

Michael T. Kiley

2008-01-01

I examine the common trend in inflation for consumer prices and consumer prices excluding prices of food and energy. Both the personal consumption expenditure (PCE) indexes and the consumer price indexes (CPI) are examined. The statistical model employed is a bivariate integrated moving average process; this model extends a univariate model that fits the data on inflation very well. The bivariate model forecasts as well as the univariate models. The results suggest that the relationship betwe...

Hydro to market green power at special prices

International Nuclear Information System (INIS)

McArthur, D.; Salaff, S.

1996-01-01

A 600 kW grid-connected demonstration wind turbine at Ontario Place will provide green power to Toronto residents early in 1997. The joint venture project partners include publicly owned Ontario Hydro, Toronto Hydro and Natural Resources Canada. The power will be sold at a premium under arrangements yet to be announced. The green power pricing initiative would allow some customers to buy their electricity at a green price. The project could be a self-financing model for future renewable energy development. The Ontario Place turbine project will determine whether Toronto electricity customers want green power or electricity from nuclear and fossil stations, and could determine which type of generation should be built in the future

Why is the oil price not about equilibrium?: An economic sociology account of petroleum markets

International Nuclear Information System (INIS)

Belyi, Andrei V.

2016-01-01

This opinion paper seeks to initiate discussion of the institutional and societal causes of oil price. On this basis, the social embeddedness concept is proposed instead of the frequently used producer-consumer juxtaposition. Observation shows no linearity between resource distribution imbalances and supply dynamics on the one hand and price on the other. As a socially endogenous factor, oil price generates practices and norms comprising benchmarks for resource valuation, stock market dynamics and risk aversion practices. A high oil price incentivises investments and inter-fuel competition, whereas a low oil price increases both political and market risks beyond the consumer-producer conceptualisation. Hence, it is argued that the notion of oil price affordability in energy security should be revised. - Highlights: •Oil price is not about affordability but about social embeddedness processes. •Producer-Consumer juxtaposition stems from resource-determinism concept. •Elevated oil price postpones peak oil and favors inter-fuel competition. •Important symbolisms surrounding the oil price exists in terms of business perspectives and political risk aversion.

Price control and macromarketing

Directory of Open Access Journals (Sweden)

Kancir Rade

2003-01-01

Full Text Available Price control at macro level is part of integral macro marketing strategic control system, or more precisely, part of social marketing mix control. Price impact is direct, if it is regarded in the context of needs satisfaction, and indirect, within the context of resource allocation. These two patterns of price impact define control mechanism structuring. Price control in sense of its direct impact at process of need satisfaction should comprise qualitative and quantitative level of needs satisfaction at a given price level and its structure, informational dimension of price and different disputable forms of corporate pricing policies. Control of price allocation function is based at objectives of macro marketing system management in the area of resource allocation and the role of price as allocator in contemporary market economies. Control process is founded, on one hand, at theoretical models of correlation between price and demand in different market structures, and on the other hand, at complex limits that price as allocator has, and which make whole control process even more complex because of reduction of the degree of determinism in functioning of contemporary economic systems. Control of price allocation function must be continuous and dynamic process if it is to provide for convergence with environmental changes and if it is to provide for placing control systems at micro marketing levels in the function of socially valid objectives.

Drug pricing and reimbursement information management: processes and decision making in the global economy.

Science.gov (United States)

Tsourougiannis, Dimitrios

2017-01-01

Background : Cost-containment initiatives are re-shaping the pharmaceutical business environment and affecting market access as well as pricing and reimbursement decisions. Effective price management procedures are too complex to accomplish manually. Prior to February 2013, price management within Astellas Pharma Europe Ltd was done manually using an Excel database. The system was labour intensive, slow to update, and prone to error. An innovative web-based pricing information management system was developed to address the shortcomings of the previous system. Development : A secure web-based system for submitting, reviewing and approving pricing requests was designed to: track all pricing applications and approval status; update approved pricing information automatically; provide fixed and customizable reports of pricing information; collect pricing and reimbursement rules from each country; validate pricing and reimbursement rules monthly. Several sequential phases of development emphasized planning, time schedules, target dates, budgets and implementation of the entire system. A test system was used to pilot the electronic (e)-pricing system with three affiliates (four users) in February 2013. Outcomes : The web-based system was introduced in March 2013, currently has about 227 active users globally and comprises more than 1000 presentations of 150 products. The overall benefits of switching from a manual to an e-pricing system were immediate and highly visible in terms of efficiency, transparency, reliability and compliance. Conclusions : The e-pricing system has improved the efficiency, reliability, compliance, transparency and ease of access to multinational drug pricing and approval information.

Price sensitive demand with random sales price - a newsboy problem

Science.gov (United States)

Sankar Sana, Shib

2012-03-01

Up to now, many newsboy problems have been considered in the stochastic inventory literature. Some assume that stochastic demand is independent of selling price (p) and others consider the demand as a function of stochastic shock factor and deterministic sales price. This article introduces a price-dependent demand with stochastic selling price into the classical Newsboy problem. The proposed model analyses the expected average profit for a general distribution function of p and obtains an optimal order size. Finally, the model is discussed for various appropriate distribution functions of p and illustrated with numerical examples.

Non Price Interaction and Business Fluctuations in an Agent Based Model of Firms’ Demography

OpenAIRE

Roberto Leombruni

2002-01-01

This paper presents some artificial stylised facts emerging in a simulated contestable market where firms interact with each other in taking their stay or go decision. I use nearly zero-intelligence firms: no optimisation is considered, and all the firms sell at a fixed price an equal quantity of the good. The entry of new firms is triggered by the overall profitability of the market, measured by the spread between the average rate of profit and the interest rate. The exit decision is modelle...

Nodal price volatility reduction and reliability enhancement of restructured power systems considering demand-price elasticity

International Nuclear Information System (INIS)

Goel, L.; Wu, Qiuwei; Wang, Peng

2008-01-01

With the development of restructured power systems, the conventional 'same for all customers' electricity price is getting replaced by nodal prices. Electricity prices will fluctuate with time and nodes. In restructured power systems, electricity demands will interact mutually with prices. Customers may shift some of their electricity consumption from time slots of high electricity prices to those of low electricity prices if there is a commensurate price incentive. The demand side load shift will influence nodal prices in return. This interaction between demand and price can be depicted using demand-price elasticity. This paper proposes an evaluation technique incorporating the impact of the demand-price elasticity on nodal prices, system reliability and nodal reliabilities of restructured power systems. In this technique, demand and price correlations are represented using the demand-price elasticity matrix which consists of self/cross-elasticity coefficients. Nodal prices are determined using optimal power flow (OPF). The OPF and customer damage functions (CDFs) are combined in the proposed reliability evaluation technique to assess the reliability enhancement of restructured power systems considering demand-price elasticity. The IEEE reliability test system (RTS) is simulated to illustrate the developed techniques. The simulation results show that demand-price elasticity reduces the nodal price volatility and improves both the system reliability and nodal reliabilities of restructured power systems. Demand-price elasticity can therefore be utilized as a possible efficient tool to reduce price volatility and to enhance the reliability of restructured power systems. (author)

Steam explosion triggering and efficiency studies

International Nuclear Information System (INIS)

Buxton, L.D.; Nelson, L.S.; Benedick, W.B.

1979-01-01

A program at Sandia Laboratories to provide relevant data on the interaction of molten LWR core materials with water is described. Two different subtasks were established. The first was the performance of laboratory-scale experiments to investigate the ability to trigger steam explosions for realistic LWR core melt simulants under a wide range of initial conditions. The second was the performance of field-scale experiments to investigate the efficiency of converting the thermal energy of the melt into mechanical work in much larger steam explosions

Modelling the impact of oil prices on Vietnam's stock prices

Energy Technology Data Exchange (ETDEWEB)

Narayan, Paresh Kumar [School of Accounting, Economics and Finance, Deakin University, Victoria 3125 (Australia); Narayan, Seema [School of Economics, Finance and Marketing, Royal Melbourne Institute of Technology University, Melbourne (Australia)

2010-01-15

The goal of this paper is to model the impact of oil prices on Vietnam's stock prices. We use daily data for the period 2000-2008 and include the nominal exchange rate as an additional determinant of stock prices. We find that stock prices, oil prices and nominal exchange rates are cointegrated, and oil prices have a positive and statistically significant impact on stock prices. This result is inconsistent with theoretical expectations. The growth of the Vietnamese stock market was accompanied by rising oil prices. However, the boom of the stock market was marked by increasing foreign portfolio investment inflows which are estimated to have doubled from US$0.9 billion in 2005 to US$1.9 billion in 2006. There was also a change in preferences from holding foreign currencies and domestic bank deposits to stocks local market participants, and there was a rise in leveraged investment in stock as well as investments on behalf of relatives living abroad. It seems that the impact of these internal and domestic factors were more dominant than the oil price rise on the Vietnamese stock market. (author)

Tiered co-payments, pricing, and demand in reference price markets for pharmaceuticals

NARCIS (Netherlands)

Herr, Annika; Suppliet, Moritz

2017-01-01

Health insurance companies curb price-insensitive behavior and the moral hazard of insureds by means of cost-sharing, such as tiered co-payments or reference pricing in drug markets. This paper evaluates the effect of price limits –below which drugs are exempt from co-payments– on prices and on

Regional Mc parity: do common pricing points reduce deviations from the law of one price?

OpenAIRE

Mathä, Thomas Y.

2009-01-01

Abstract This paper analyses price differences of McDonald?s products in four different countries. I show that pricing at pricing points in different currencies may contribute to explaining deviations from the law of one price. Observing strictly equal prices is more probable if prices are set at psychological and fractional pricing points in a common currency. The latter is also found to reduce the size of price deviations. Additionally, price differences increase as transaction c...

Delegating Pricing Decisions

OpenAIRE

Pradeep Bhardwaj

2001-01-01

An outstanding problem in marketing is why some firms in a competitive market delegate pricing decisions to agents and other firms do not. This paper analyzes the impact of competition on the delegation decision and, in turn, the impact of delegation on prices and incentives. The theory builds on the simplest framework of competition in two dimensions: prices and (sales agents') effort. Specifically, we are interested in answering the following questions: (1) Does competition affect the price...

Price regulation and relative price convergence: Evidence from the retail gasoline market in Canada

International Nuclear Information System (INIS)

Suvankulov, Farrukh; Lau, Marco Chi Keung; Ogucu, Fatma

2012-01-01

This paper explores price regulation and relative price convergence in the Canadian retail gasoline market. We use monthly data (2000–2010) on retail gasoline prices in 60 Canadian cities to investigate (i) whether the retail gasoline market in Canada has experienced a relative price convergence to the mean, which is expected, given the increased economic integration across Canadian provinces; and (ii) whether the introduction of price regulation mechanisms in New Brunswick and Nova Scotia in July 2006 had any impact on the price convergence in these provinces. We use a nonlinear panel unit root test and find solid evidence that Canadian retail gasoline markets are well integrated across locales; however, the share of converging cities reveals a significant decline since July of 2006. The impact of price regulation on price convergence is mixed; our results indicate that since the enactment of the regulation in all New Brunswick cities (9) included in the dataset, gasoline prices converge to the national mean. Volatility of price is also significantly reduced. In contrast, in the wake of price regulation in Nova Scotia, all 6 cities of the province are non-convergent to the mean with increased volatility and overall price level. - Highlights: ► The paper examines price regulation and convergence of gasoline prices in Canada. ► Overall in 2000–2010 the Canadian retail gasoline market was well integrated. ► Price convergence across cities has significantly declined since July 2006. ► The impact of price regulation at province level on a price convergence is mixed. ► The paper relies on the most advanced nonlinear panel unit root test.

The composite barrel of retail prices and its relationship to crude oil prices

International Nuclear Information System (INIS)

Balabanoff, S.

1993-01-01

This paper challenges assumptions about the relationship between refinery gate prices, retail prices paid by consumers and crude oil prices. The analysis presented here considers their relationship within the context of the Organization of Petroleum Exporting Countries' (OPEC's) composite barrel statistics, which includes taxes and other government policy effects on prices. Speed of adjustment and retail price response to taxes are analysed with respect to crude import prices. OPEC's composite barrel is explained and evaluated. Test results are summarized. (UK)

Reliability model analysis and primary experimental evaluation of laser triggered pulse trigger

International Nuclear Information System (INIS)

Chen Debiao; Yang Xinglin; Li Yuan; Li Jin

2012-01-01

High performance pulse trigger can enhance performance and stability of the PPS. It is necessary to evaluate the reliability of the LTGS pulse trigger, so we establish the reliability analysis model of this pulse trigger based on CARMES software, the reliability evaluation is accord with the statistical results. (authors)

Improving the asset pricing ability of the Consumption-Capital Asset Pricing Model?

DEFF Research Database (Denmark)

Rasmussen, Anne-Sofie Reng

This paper compares the asset pricing ability of the traditional consumption-based capital asset pricing model to models from two strands of literature attempting to improve on the poor empirical results of the C-CAPM. One strand is based on the intertemporal asset pricing model of Campbell (1993...... able to price assets conditionally as suggested by Cochrane (1996) and Lettau and Ludvigson (2001b). The unconditional C-CAPM is rewritten as a scaled factor model using the approximate log consumptionwealth ratio cay, developed by Lettau and Ludvigson (2001a), as scaling variable. The models...... and composite. Thus, there is no unambiguous solution to the pricing ability problems of the C-CAPM. Models from both the alternative literature strands are found to outperform the traditional C-CAPM on average pricing errors. However, when weighting pricing errors by the full variance-covariance matrix...

Oil prices, SUVs, and Iraq. An investigation of automobile manufacturer oil price sensitivity

Energy Technology Data Exchange (ETDEWEB)

Cameron, Ken [United States Navy (United States); Schnusenberg, Oliver [Department of Accounting and Finance, Coggin College of Business, The University of North Florida, 1 UNF Drive, Jacksonville, FL 32224 (United States)

2009-05-15

There has been much speculation about the recent upsurge in crude oil prices and the effect it will have on the economy and business. The objective of this paper is to investigate the relationship between oil prices and stock prices of automobile manufacturers. We add an oil price factor, measured alternatively by the excess change in WTI crude oil prices or the excess return on an energy ETF, to the Fama-French three-factor model over the period March 20, 2001 to September 30, 2008. Our dependent variable is the excess return on a price-weighted index of automobile manufacturers. Results indicate that oil prices add value to the pricing model, particularly for manufacturers specializing in SUVs and for a subperiod following the Iraq invasion on March 19, 2003. (author)

Stay away from asthma triggers

Science.gov (United States)

Asthma triggers - stay away from; Asthma triggers - avoiding; Reactive airway disease - triggers; Bronchial asthma - triggers ... clothes. They should leave the coat outside or away from your child. Ask people who work at ...

Carbon pricing. A lever for energy transition

International Nuclear Information System (INIS)

2016-01-01

The international community has set itself the target of limiting the global temperature rise to 2 deg. C. In today's world, the challenge is to invent new ways of manufacturing goods, producing food, travelling and keeping ourselves warm, without emitting more greenhouse gases (GHG) into the atmosphere than what we are technically able to remove from it. Climate action can be considered as an insurance for our societies against unacceptable costs generated by the risk of increasingly frequent climate-triggered natural disasters, irreversible damage to ecosystems and mass population migrations. In addition to avoid climate damage there are many benefits of climate action, including greater energy autonomy, reduced atmospheric pollution, which is harmful for human health, and the economic benefits of new green growth sectors. However, the efforts needed to make the transition to economies that emit fewer greenhouse gases must not be underestimated. This transition requires the mass redirection of investments into clean transport, renewable energy sources, building insulation and the development of agro-ecology, in a highly restricted financial and budgetary context. The economic and financial tools used for explicit or implicit carbon pricing give clear messages about the benefits of emitting less carbon, or alternatively the cost of greenhouse gas emissions for society. Consequently, they make it possible to accelerate the energy transition. 74 countries and over 1,000 businesses formed a coalition for carbon pricing during the United Nations Climate Summit in September 2014, held at the invitation of the UN Secretary-General. The goal of the coalition is to promote productive dialogue between public and private decision-makers concerning opportunities to extend carbon pricing policies. It has been officially launched on November 30, 2015, on the opening day of COP21. It has been officially launched on November 30, 2015, on the opening day of COP21. Members of the

Prompt triggering of edge localized modes through lithium granule injection on EAST

Science.gov (United States)

Lunsford, Robert; Sun, Z.; Hu, J. S.; Xu, W.; Zuo, G. Z.; Gong, X. Z.; Wan, B. N.; Li, J. G.; Huang, M.; Maingi, R.; Diallo, A.; Tritz, K.; the EAST Team

2017-10-01

We report successful triggering of edge localized mode (ELMs) in EAST with Lithium (Li) micropellets, and the observed dependence of ELM triggering efficiency on granule size. ELM control is essential for successful ITER operation throughout the entire campaign, relying on magnetic perturbations for ELM suppression and ELM frequency enhancement via pellet injection. To separate the task of fueling from ELM pacing, we initiate the prompt generation of ELMs via impurity granule injection. Lithium granules ranging in size from 200 - 1000 microns are mechanically injected into upper-single null EAST long pulse H-mode discharges. The injections are monitored for their effect on high Z impurity accumulation and to assess the pressure perturbation required for reliable ELM triggering. We have determined that granules of diameter larger than 600 microns (corresponding to 5.2 x 1018 Li atoms) are successful at triggering ELMs more than 90% of the time. The triggering efficiency drops precipitously to less than 40% as the granule size is reduced to 400 microns (1.5 x 1018 Li atoms), indicating a triggering threshold has been crossed. Using this information an optimal impurity granule size which will regularly trigger a prompt ELM in these EAST discharges is determined. Coupling these results with alternate discharge scenarios on EAST and similar experiments performed on DIII-D provides the possibility of extrapolation to future devices.

Price increase

CERN Multimedia

2006-01-01

Please take note that after five years of stable prices at Restaurant No 1 a price increase will come into force on 1st January 2006. This increase has been agreed after discussions between the CSR (Comité de Surveillance des Restaurants) and the catering company Novae and will reflect the inflation rate of the last few years. In addition, a new children's menu will be introduced, as well as 'Max Havelaar' fair-trade coffee at a price of 1.70 CHF.

Price increase

CERN Multimedia

2005-01-01

Please take note that after five years of stable prices at Restaurant No 1 a price increase will come into force on 1st January 2006. This increase has been agreed after discussions between the CSR (Comité de Surveillance des Restaurants) and the catering company Novae and will reflect the inflation rate of the last few years. In addition, a new children's menu will be introduced as well as 'Max Havelaar' fair-trade coffee at a price of 1.70 CHF.

Near-term oil prices

International Nuclear Information System (INIS)

Lynch, M.C.

2001-01-01

This PowerPoint presentation included 36 slides that described the state of oil prices and how to predict them. Prices are random, stochastic, chaotic, mean-reverting and driven by speculators, oil companies and OPEC. The many factors that enable price forecasting are economic growth, weather, industry behaviour, speculators, OPEC policy choices, Mexico/Russia production policy, non-OPEC supply and the interpretation of the above factors by OPEC, speculators, traders and the petroleum industry. Several graphs were included depicting such things as WTI price forecasts, differentials, oil market change in 2001, inventory levels, and WTI backwardation. The presentation provided some explanations for price uncertainties, price surges and collapses. U.S. GDP growth and the volatility of Iraq's production was also depicted. The author predicted that economic growth will occur and that oil demand will go up. Oil prices will fluctuate as the Middle East will be politically unstable and weather will be a major factor that will influence oil prices. The prices are likely to be more volatile than in the 1986 to 1995 period. 2 tabs., 22 figs

Distance to Store, Food Prices, and Obesity in Urban Food Deserts

Science.gov (United States)

Ghosh-Dastidar, Bonnie; Cohen, Deborah; Hunter, Gerald; Zenk, Shannon N.; Huang, Christina; Beckman, Robin; Dubowitz, Tamara

2014-01-01

Background Lack of access to healthy foods may explain why residents of low-income neighborhoods and African Americans in the U.S. have high rates of obesity. The findings on where people shop and how that may influence health are mixed. However, multiple policy initiatives are underway to increase access in communities that currently lack healthy options. Few studies have simultaneously measured obesity, distance, and prices of the store used for primary food shopping. Purpose To examine the relationship among distance to store, food prices, and obesity. Methods The Pittsburgh Hill/Homewood Research on Eating, Shopping, and Health study conducted baseline interviews with 1,372 households between May and December 2011 in two low-income, majority African American neighborhoods without a supermarket. Audits of 16 stores where participants reported doing their major food shopping were conducted. Data were analyzed between February 2012 and February 2013. Results Distance to store and prices were positively associated with obesity (pfood prices were jointly modeled, only prices remained significant (pjunk foods relative to healthy foods. Conclusions Placing supermarkets in food deserts to improve access may not be as important as simultaneously offering better prices for healthy foods relative to junk foods, actively marketing healthy foods, and enabling consumers to resist the influence of junk food marketing. PMID:25217097

The price facade: Symbolic and behavioural price cues in service environments

NARCIS (Netherlands)

Verhoeven, J.W.M.; van Rompay, Thomas Johannes Lucas; Pruyn, Adriaan T.H.

2009-01-01

Although the role of price expectations in predicting consumer behavior has been widely acknowledged, little is known about the way in which price expectations depend on environmental elements in hospitality settings. We propose that restaurant guests base price expectations on (1) perceptions of

Timing paradox of stepping and falls in ageing: not so quick and quick(er) on the trigger.

Science.gov (United States)

Rogers, Mark W; Mille, Marie-Laure

2016-08-15

Physiological and degenerative changes affecting human standing balance are major contributors to falls with ageing. During imbalance, stepping is a powerful protective action for preserving balance that may be voluntarily initiated in recognition of a balance threat, or be induced by an externally imposed mechanical or sensory perturbation. Paradoxically, with ageing and falls, initiation slowing of voluntary stepping is observed together with perturbation-induced steps that are triggered as fast as or faster than for younger adults. While age-associated changes in sensorimotor conduction, central neuronal processing and cognitive functions are linked to delayed voluntary stepping, alterations in the coupling of posture and locomotion may also prolong step triggering. It is less clear, however, how these factors may explain the accelerated triggering of induced stepping. We present a conceptual model that addresses this issue. For voluntary stepping, a disruption in the normal coupling between posture and locomotion may underlie step-triggering delays through suppression of the locomotion network based on an estimation of the evolving mechanical state conditions for stability. During induced stepping, accelerated step initiation may represent an event-triggering process whereby stepping is released according to the occurrence of a perturbation rather than to the specific sensorimotor information reflecting the evolving instability. In this case, errors in the parametric control of induced stepping and its effectiveness in stabilizing balance would be likely to occur. We further suggest that there is a residual adaptive capacity with ageing that could be exploited to improve paradoxical triggering and other changes in protective stepping to impact fall risk. © 2016 The Authors. The Journal of Physiology © 2016 The Physiological Society.

Reimbursement of pharmaceuticals: reference pricing versus health technology assessment.

Science.gov (United States)

Drummond, Michael; Jönsson, Bengt; Rutten, Frans; Stargardt, Tom

2011-06-01

Reference pricing and health technology assessment are policies commonly applied in order to obtain more value for money from pharmaceuticals. This study focussed on decisions about the initial price and reimbursement status of innovative drugs and discussed the consequences for market access and cost. Four countries were studied: Germany, The Netherlands, Sweden and the United Kingdom. These countries have operated one, or both, of the two policies at certain points in time, sometimes in parallel. Drugs in four groups were considered: cholesterol-lowering agents, insulin analogues, biologic drugs for rheumatoid arthritis and "atypical" drugs for schizophrenia. Compared with HTA, reference pricing is a relatively blunt instrument for obtaining value for money from pharmaceuticals. Thus, its role in making reimbursement decisions should be limited to drugs which are therapeutically equivalent. HTA is a superior strategy for obtaining value for money because it addresses not only price but also the appropriate indications for the use of the drug and the relation between additional value and additional costs. However, given the relatively higher costs of conducting HTAs, the most efficient approach might be a combination of both policies.

Equilibrium prices supported by dual price functions in markets with non-convexities

International Nuclear Information System (INIS)

Bjoerndal, Mette; Joernsten, Kurt

2004-06-01

The issue of finding market clearing prices in markets with non-convexities has had a renewed interest due to the deregulation of the electricity sector. In the day-ahead electricity market, equilibrium prices are calculated based on bids from generators and consumers. In most of the existing markets, several generation technologies are present, some of which have considerable non-convexities, such as capacity limitations and large start up costs. In this paper we present equilibrium prices composed of a commodity price and an uplift charge. The prices are based on the generation of a separating valid inequality that supports the optimal resource allocation. In the case when the sub-problem generated as the integer variables are held fixed to their optimal values possess the integrality property, the generated prices are also supported by non-linear price-functions that are the basis for integer programming duality. (Author)

Heterogeneity and option pricing

NARCIS (Netherlands)

Benninga, Simon; Mayshar, Joram

2000-01-01

An economy with agents having constant yet heterogeneous degrees of relative risk aversion prices assets as though there were a single decreasing relative risk aversion pricing representative agent. The pricing kernel has fat tails and option prices do not conform to the Black-Scholes formula.

Customizing Prices in Online Markets

OpenAIRE

Werner Reinartz

2002-01-01

Dynamic pricing is the dynamic adjustment of prices to consumers depending on the value these customers attribute to a good. Underlying the concept of dynamic pricing is what marketers call price customization. Price customization is the charging of different prices to end consumers based on a discriminatory variable. Internet technology will serve as a great enabling tool for making dynamic pricing accessible to many industries.

Have Chinese water pricing reforms reduced urban residential water demand?

Science.gov (United States)

Zhang, B.; Fang, K. H.; Baerenklau, K. A.

2017-06-01

China continues to deal with severe levels of water scarcity and water pollution. To help address this situation, the Chinese central government initiated urban water pricing reforms in 2002 that emphasized the adoption of increasing block rate (IBR) price structures in place of existing uniform rate structures. By combining urban water use records with microlevel data from the Chinese Urban Household Survey, this research investigates the effectiveness of this national policy reform. Specifically, we compare household water consumption in 28 cities that adopted IBR pricing structures during 2002-2009, with that of 110 cities that had not yet done so. Based on difference-in-differences models, our results show that the policy reform reduced annual residential water demand by 3-4% in the short run and 5% in the longer run. These relatively modest reductions are consistent with the generous nature of the IBR pricing structures that Chinese cities have typically chosen to implement. Our results imply that more efforts are needed to address China's persistent urban water scarcity challenges.

48 CFR 16.205 - Fixed-price contracts with prospective price redetermination.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Fixed-price contracts with prospective price redetermination. 16.205 Section 16.205 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION CONTRACTING METHODS AND CONTRACT TYPES TYPES OF CONTRACTS Fixed-Price Contracts 16.205...

Pricing hospital care: Global budgets and marginal pricing strategies.

Science.gov (United States)

Sutherland, Jason M

2015-08-01

The Canadian province of British Columbia (BC) is adding financial incentives to increase the volume of surgeries provided by hospitals using a marginal pricing approach. The objective of this study is to calculate marginal costs of surgeries based on assumptions regarding hospitals' availability of labor and equipment. This study is based on observational clinical, administrative and financial data generated by hospitals. Hospital inpatient and outpatient discharge summaries from the province are linked with detailed activity-based costing information, stratified by assigned case mix categorizations. To reflect a range of operating constraints governing hospitals' ability to increase their volume of surgeries, a number of scenarios are proposed. Under these scenarios, estimated marginal costs are calculated and compared to prices being offered as incentives to hospitals. Existing data can be used to support alternative strategies for pricing hospital care. Prices for inpatient surgeries do not generate positive margins under a range of operating scenarios. Hip and knee surgeries generate surpluses for hospitals even under the most costly labor conditions and are expected to generate additional volume. In health systems that wish to fine-tune financial incentives, setting prices that create incentives for additional volume should reflect knowledge of hospitals' underlying cost structures. Possible implications of mis-pricing include no response to the incentives or uneven increases in supply. Copyright © 2015 The Authors. Published by Elsevier Ireland Ltd.. All rights reserved.

CMS Trigger Performance

CERN Document Server

Donato, Silvio

2017-01-01

During its second run of operation (Run 2) which started in 2015, the LHC will deliver a peak instantaneous luminosity that may reach $2 \\cdot 10^{34}$ cm$^{-2}$s$^{-1}$ with an average pile-up of about 55, far larger than the design value. Under these conditions, the online event selection is a very challenging task. In CMS, it is realized by a two-level trigger system the Level-1 (L1) Trigger, implemented in custom-designed electronics, and the High Level Trigger (HLT), a streamlined version of the offline reconstruction software running on a computer farm. In order to face this challenge, the L1 trigger has been through a major upgrade compared to Run 1, whereby all electronic boards of the system have been replaced, allowing more sophisticated algorithms to be run online. Its last stage, the global trigger, is now able to perform complex selections and to compute high-level quantities, like invariant masses. Likewise, the algorithms that run in the HLT go through big improvements; in particular, new appr...

First results on the performance of the CMS global calorimeter trigger

CERN Document Server

Foudas, C; Jones, J; Rose, A; Stettler, M; Sidiropoulos, G; Tapper, A; Brooke, J; Frazier, R; Heath, G; Hansen, M; PH-EP

2007-01-01

The CMS Global Calorimeter Trigger (GCT) uses data from the CMS calorimeters to compute a number kinematical quantities which characterize the LHC event. The GTC output is used by the Global Trigger (GT) along with data from the Global Muon Trigger (GMT) to produce the Level-1 Accept (L1A) decision. The design for the current GCT system commenced early in 2006. After a rapid development phase all the different GCT components have been produced and a large fraction of them have been installed at the CMS electronics cavern (USC-55). There the GCT system has been under test since March 2007. This paper reports results from tests which took place at the USC-55. Initial tests aimed to test the integrity of the GCT data and establish that the proper synchronization had been achieved both internally within GCT as well as with the Regional Calorimeter Trigger (RCT) which provides the GCT input data and with GT which receives the GCT results. After synchronization and data integrity had been established, Monte Carlo E...

PRICES IN COMPETITIVE SYSTEM

Directory of Open Access Journals (Sweden)

VADUVA MARIA

2017-08-01

Full Text Available Regularities of competitive market determine rules for determining prices and their dynamics. Orientation prices to competition (competitive pricing is the strategy most frequently used in countries with market economies and especially for exports. Moreover, in an economy dominated by market competition it cannot be ignored without certain risks the prices resulting from competition between products bidders. Companies that use this type of strategy seek to maintain a level of prices linked to that charged by other competitors (or exporting producers generally no longer covering production costs or demand, relying on the assumption that the average market price is a reasonable basis of costs. But the way how practical guidance and reporting to the competition in every price strategy, will be determined by the company's market position, by the available power and enjoyed prestige, objectives and prospects of its market share etc. according to these elements, there may be several versions of pricing strategies oriented to competitors.

Price learning during grocery shopping