How vulnerable is the emissions market to transaction costs?: An ABMS Approach

International Nuclear Information System (INIS)

Lee, Kangil; Han, Taek-Whan

2016-01-01

The impact of transaction costs on the early emissions trading market is examined by applying an agent-based model and simulation (ABMS) approach. For a realistic model set up, bounded rationality, stochastic characteristics, and learning-by-doing are considered in our search processes. Marginal abatement cost parameters are obtained from Yoo et al. (2010), which is an experimental study on the emissions trading in the Korean power sector. Sensitivity analyses are performed on market performance indices with regard to transaction cost parameters, which represent scales and the learning elasticities of transaction costs. A total of 960 simulations were run in this sensitivity analysis. Sensitivity analysis results consistently show that higher transaction costs worsen market performance. The most remarkable finding in these results is that welfare performance of all the transactions decreases by up to 50% as the scale parameters of transaction costs increase, implying that welfare gain from introducing emissions trading disappears significantly. However, with learning curve effect, welfare performance could be regained by up to 26%. In sum, although transaction costs significantly encroach upon trade gains at the early stage, based on our simulation results, the welfare loss by way of transaction costs is lessened as the knowledge of market participants progresses. - Highlights: • Impact of transaction costs on small and early, primitive emissions trading market • Bounded Rationality (BR) and Zero Intelligence Plus (ZIP) agents concept • Marginal Abatement Cost (MAC) parameters delineate Korean power companies • With transaction costs, welfare gain from trade found to be shrunken • As learning proceeds, welfare loss is reduced

Marginal Cost Pricing in a World without Perfect Competition: Implications for Electricity Markets with High Shares of Low Marginal Cost Resources

Energy Technology Data Exchange (ETDEWEB)

Frew, Bethany A. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Clark, Kara [National Renewable Energy Lab. (NREL), Golden, CO (United States); Bloom, Aaron P. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Milligan, Michael [National Renewable Energy Lab. (NREL), Golden, CO (United States)

2017-12-02

A common approach to regulating electricity is through auction-based competitive wholesale markets. The goal of this approach is to provide a reliable supply of power at the lowest reasonable cost to the consumer. This necessitates market structures and operating rules that ensure revenue sufficiency for all generators needed for resource adequacy purposes. Wholesale electricity markets employ marginal-cost pricing to provide cost-effective dispatch such that resources are compensated for their operational costs. However, marginal-cost pricing alone cannot guarantee cost recovery outside of perfect competition, and electricity markets have at least six attributes that preclude them from functioning as perfectly competitive markets. These attributes include market power, externalities, public good attributes, lack of storage, wholesale price caps, and ineffective demand curve. Until (and unless) these failures are ameliorated, some form of corrective action(s) will be necessary to improve market efficiency so that prices can correctly reflect the needed level of system reliability. Many of these options necessarily involve some form of administrative or out-of-market actions, such as scarcity pricing, capacity payments, bilateral or other out-of-market contracts, or some hybrid combination. A key focus with these options is to create a connection between the electricity market and long-term reliability/loss-of-load expectation targets, which are inherently disconnected in the native markets because of the aforementioned market failures. The addition of variable generation resources can exacerbate revenue sufficiency and resource adequacy concerns caused by these underlying market failures. Because variable generation resources have near-zero marginal costs, they effectively suppress energy prices and reduce the capacity factors of conventional generators through the merit-order effect in the simplest case of a convex market; non-convexities can also suppress prices.

Cost reduction potentials in the German market for balancing power

International Nuclear Information System (INIS)

Flinkerbusch, Kai; Heuterkes, Michael

2010-01-01

This article examines potential cost reductions in the market for balancing power by pooling all four German control areas. In a united control area both the procurement and the production of balancing power may be more efficient than in four separated control areas. Our data contain bids on energy procurement as well as balancing power flows in the period from December 2007 to November 2008. A reference scenario simulates the market results for secondary and tertiary balancing power. Subsequently, we simulate a united control area. We show that in the period under review the total costs of balancing power are reduced by 17%. (author)

Econometric Analysis of Marketing Costs: A Case Study

NARCIS (Netherlands)

Kuwornu, J.K.M.; Abboah, R.; Amegashie, D.P.K.; Kuiper, W.E.

2009-01-01

This study analyzes the marketing costs of a pineapple producing and export firm (Bomart Farms) in Ghana. Con­ sistent with the existing literature, we categorize marketing costs into assembling, processing, and distribution costs. The assembling cost comprises of cost of crating and loading fresh

Security cost allocation under combined bilateral-pool market dispatch

International Nuclear Information System (INIS)

Abdullah, M.P.; Hassan, M.Y.; Hussin, F.

2008-01-01

Most electricity markets around the world are a combination of bilateral and pool markets, such as NordPool and NYPOOL. In these models, market participants bid into the pool and also make bilateral contracts with each other. This paper addressed the issue of congestion management and security cost allocation in a power pool market model. The basic idea of security cost allocation is to divide the incurred security cost due to congestion relief into pool and bilateral market based on their flow contribution to the congested line. A newly proposed security cost allocation strategy of the combined bilateral-pool market was also presented along with case studies using IEEE-14 bus system that tested the proposed method. Using the proposed method, it was shown that security costs are allocated to market participants at different prices which reflect the load contribution to the security problem. This solves the problem of the uniform security cost allocation in a pure pool market system having uniform pricing, and provides a proper security signal to market participants. 11 refs., 3 tabs., 4 figs

Consumer cost effectiveness of CO2 mitigation policies in restructured electricity markets

International Nuclear Information System (INIS)

Moore, Jared; Apt, Jay

2014-01-01

We examine the cost of carbon dioxide mitigation to consumers in restructured USA markets under two policy instruments, a carbon price and a renewable portfolio standard (RPS). To estimate the effect of policies on market clearing prices, we constructed hourly economic dispatch models of the generators in PJM and in ERCOT. We find that the cost effectiveness of policies for consumers is strongly dependent on the price of natural gas and on the characteristics of the generators in the dispatch stack. If gas prices are low (∼$4/MMBTU), a technology-agnostic, rational consumer seeking to minimize costs would prefer a carbon price over an RPS in both regions. Expensive gas (∼$7/MMBTU) requires a high carbon price to induce fuel switching and this leads to wealth transfers from consumers to low carbon producers. The RPS may be more cost effective for consumers because the added energy supply lowers market clearing prices and reduces CO 2 emissions. We find that both policies have consequences in capacity markets and that the RPS can be more cost effective than a carbon price under certain circumstances: continued excess supply of capacity, retention of nuclear generators, and high natural gas prices. (letter)

TRANSACTION COSTS AND MARKET IMPACT IN INVESTMENT MANAGEMENT

Directory of Open Access Journals (Sweden)

Marek Kociński

2015-05-01

Full Text Available The aim of this article is to analyse the major sources of transaction costs in financial markets, in particular to find the amounts of such costs on the Warsaw Stock Exchange (WSE. Sources of transaction costs are considered: commissions, bid-ask spread and market impact. The commissions are only briefly described since they are explicitly stated and easily measured. More attention is paid to the bid-ask spread which is one of the main causes of trading costs. It is shown that the investor who wants to outperform the Polish market should usually expect a much higher bid-ask spread than it follows from the officially used calculations. Then it is demonstrated how historical spreads can be used in predicting their future values. This seems to be important from the practical point of view, since forecasting trading costs is a compelling task for financial managers. Next, market impact and market impact costs are considered. The practical method of measuring these is applied and discussed.

Management of busbar costs and spending tradeoffs for the transition to competitive markets in electricity

International Nuclear Information System (INIS)

Corio, M.R.; Boyd, G.

1995-01-01

Competition is changing the fundamental basis for doing business in the electricity generation market. As the market moves toward competitive market conditions, electricity will be viewed increasingly as a commodity--not only supplied to customers within a utility's service area, but brokered and marketed outside its area as well. With movement toward retail wheeling being considered in California, Michigan, and New York, it may soon become a reality as well. This means that a utility can no longer feel secure as the monopoly supplier of electricity within its own franchise area. To remain the main supplier in its current service area and compete for customers in other service areas, utilities will need to understand and examine all the components of ''busbar costs'' at its generating units. As competition drives the market to marginal costs, generating units with costs exceeding the market clearing price for electricity may soon have a limited role in the generation market. As the industry evolves, competition in the marketplace will force uneconomic plants to reduce costs or go out of business. This paper discusses results of studies addressing the evaluation of cost effectiveness, benchmarking of cost-efficiency, and development of marginal cost curves for busbar costs based on the development and aggregation of the three key measures which determine the cost and level of output (generation): (1) reliability; (2) heat rate; and (3) planned outage factor

Management of busbar costs and spending tradeoffs for the transition to competitive markets in electricity

Energy Technology Data Exchange (ETDEWEB)

Corio, M.R.; Boyd, G. [Applied Economic Research Co., Inc., New York, NY (United States)

1995-09-01

Competition is changing the fundamental basis for doing business in the electricity generation market. As the market moves toward competitive market conditions, electricity will be viewed increasingly as a commodity--not only supplied to customers within a utility`s service area, but brokered and marketed outside its area as well. With movement toward retail wheeling being considered in California, Michigan, and New York, it may soon become a reality as well. This means that a utility can no longer feel secure as the monopoly supplier of electricity within its own franchise area. To remain the main supplier in its current service area and compete for customers in other service areas, utilities will need to understand and examine all the components of ``busbar costs`` at its generating units. As competition drives the market to marginal costs, generating units with costs exceeding the market clearing price for electricity may soon have a limited role in the generation market. As the industry evolves, competition in the marketplace will force uneconomic plants to reduce costs or go out of business. This paper discusses results of studies addressing the evaluation of cost effectiveness, benchmarking of cost-efficiency, and development of marginal cost curves for busbar costs based on the development and aggregation of the three key measures which determine the cost and level of output (generation): (1) reliability; (2) heat rate; and (3) planned outage factor.

Assessing the Doha Round: Market Access, Transactions Costs and Aid for Trade Facilitation

OpenAIRE

Hoekman, Bernard; Nicita, Alessandro

2010-01-01

This paper compares the predicted trade impacts of a successful Doha Round with the trade effects of actions aimed at reducing domestic trade costs for traders in developing countries and the world as a whole. We show that a relatively small reduction in trade costs will generate trade impacts that are larger than what is likely to emerge even from a relatively ambitious Doha Round market access outcome. This illustrates the importance of complementing market access commitments with measures ...

Sunk cost investments and market information

DEFF Research Database (Denmark)

Sørensen, Hans Eibe; Stieglitz, Nils

2008-01-01

This paper extends the strategic management literature on how firms' sunk cost investments and market orientation mutually shapes firm performance. Using data from 314 manufacturing firms, we decompose firms' sunk cost investments into industry-specific resources and firm-specific resources...... and investigate their effect on firm performance. Our results suggest that the salient components of a firm's market orientation - i.e. customer orientation and competitor orientation - have different effects on firms' performance as well as moderate the relationship between a firm's sunk cost investments and its...

Uncovering the Hidden Transaction Costs of Market Power

DEFF Research Database (Denmark)

Foss, Kirsten; Foss, Nicolai J.; Klein, Peter G.

2018-01-01

A central construct in competitive strategy research is market power, the ability to raise price above marginal cost. Positioning research focuses on attempts to build, protect, and exercise market power. However, this approach contains hidden assumptions about transaction costs. Parties made worse...... off by the exercise of market power can negotiate, bargain, form coalitions, and otherwise contract around the focal firm's attempts to appropriate monopoly profits—depending on transaction costs. We build on property rights economics to explain how transaction costs affect positioning and offer...

On Transaction-Cost Models in Continuous-Time Markets

Directory of Open Access Journals (Sweden)

Thomas Poufinas

2015-04-01

Full Text Available Transaction-cost models in continuous-time markets are considered. Given that investors decide to buy or sell at certain time instants, we study the existence of trading strategies that reach a certain final wealth level in continuous-time markets, under the assumption that transaction costs, built in certain recommended ways, have to be paid. Markets prove to behave in manners that resemble those of complete ones for a wide variety of transaction-cost types. The results are important, but not exclusively, for the pricing of options with transaction costs.

Cost-Optimal ATCs in Zonal Electricity Markets

DEFF Research Database (Denmark)

Jensen, Tue Vissing; Kazempour, Jalal; Pinson, Pierre

2017-01-01

from the physical ATCs based on security indices only typically used in zonal electricity markets today. Determining cost-optimal ATCs requires viewing ATCs as an endogenous market construct, and leads naturally to the definition of a market entity whose responsibility is to optimize ATCs....... The optimization problem which this entity solves is a stochastic bilevel problem, which we decompose to yield a computationally tractable formulation. We show that cost-optimal ATCs depend non-trivially on the underlying network structure, and the problem of finding a setof cost-optimal ATCs is in general non...... by a factor of 2 or more, and ATCs which are zero between well-connected areas.Our results indicate that the perceived efficiency gap between zonal and nodal markets may be exagerrated if non-optimal ATCs are used....

DOES ECO-EFFICENCY REDUCE THE COST OF EQUITY CAPITAL? EMPIRICAL EVIDENCE FROM INDONESIA

OpenAIRE

Lisa Alviani; Mahfud Sholihin

2015-01-01

The objective of this study is to examine the effect of eco-efficiency on the cost of equity capital. The study hypothesizes that the implementation of eco-efficiency reduces the cost of equity capital. Using manufacturing companies listed on the Indonesian Stock Exchange for the period 2010-2012 as data, and controlling for beta, company size, Book to Market ratio, and leverage; the study finds that the implementation of eco-efficiency may reduce the cost of equity capital. The findings sugg...

The Finnish power market: Are imports from Russia low-cost?

International Nuclear Information System (INIS)

Ochoa, Camila; Gore, Olga

2015-01-01

Electricity market integration of high- and low-price areas is expected to bring benefits to the consumers in a high-price area. However, these potential benefits are highly dependent on the market characteristics and the policy interventions. We use simulation to study the effects of different alternatives for the expansion and operation of the interconnector Finland–Russia on the Finnish market (a high-price area). Our results show that the current trading arrangement, where a single trader owns the transmission rights, and limits the trade during peak hours to avoid capacity charges in Russia, is beneficial for Finland at the current interconnection capacity. However, if the interconnector is expanded, the behaviour of the trader would create significant distortions in the Finnish market. We also analyse the pros and cons of maintaining a strategic reserve in Finland in combination with the different scenarios of interconnection expansion and trading arrangements. We conclude that in the absence of trust in imports, the need for a strategic reserve is undeniable. This will slightly reduce the economic benefits of integration for Finnish consumers, but it will significantly improve reliability. - Highlights: • We model the likely long-term dynamics of the interconnection Finland–Russia. • Different cross-border arrangements and capacity adequacy policies are considered. • Discriminatory access to the interconnector undermines the benefits of integration. • Market coupling reduces supply costs but creates reliability concerns. • Keeping a strategic reserve reduces the benefits of market coupling

Does Eco-efficency Reduce the Cost of Equity Capital? Empirical Evidence From Indonesia

OpenAIRE

Alviani, Lisa; Sholihin, Mahfud

2015-01-01

The objective of this study is to examine the effect of eco-efficiency on the cost of equity capital. The study hypothesizes that the implementation of eco-efficiency reduces the cost of equity capital. Using manufacturing companies listed on the Indonesian Stock Exchange for the period 2010-2012 as data, and controlling for beta, company size, Book to Market ratio, and leverage; the study finds that the implementation of eco-efficiency may reduce the cost of equity capital. The findings sugg...

Photovoltaic technology, performance, manufacturing cost and markets

International Nuclear Information System (INIS)

Maycock, P.D.

1999-01-01

A comprehensive discussion of key aspects of photovoltaic energy conversion systems will provide the basis for forecasting PV module shipments from 1999 to 2010. Principal areas covered include: (1) Technology and Performance Status: The module efficiency and performance are described for commercial cell technologies including single crystal silicon, polycrystal silicon, ribbon silicon, film silicon on low cost substrate, amorphous silicon, copper indium diselenide, and cadmium telluride; (2) Manufacturing cost: 1999 costs for PV technologies in production (single crystal silicon, polycrystal silicon, and amorphous silicon) are developed. Manufacturing costs for 10--25 MW plants and 100 MW plants will be estimated; (3) The world PV market is summarized by region, top ten companies, and technology; and (4) Forecast of the World Market (seven market sectors) to 2010 will be presented. Key assumptions, price of modules, incentive programs, price of competing electricity generation will be detailed

Advance market commitments for vaccines against neglected diseases: estimating costs and effectiveness.

Science.gov (United States)

Berndt, Ernst R; Glennerster, Rachel; Kremer, Michael R; Lee, Jean; Levine, Ruth; Weizsäcker, Georg; Williams, Heidi

2007-05-01

The G8 is considering committing to purchase vaccines against diseases concentrated in low-income countries (if and when desirable vaccines are developed) as a way to spur research and development on vaccines for these diseases. Under such an 'advance market commitment,' one or more sponsors would commit to a minimum price to be paid per person immunized for an eligible product, up to a certain number of individuals immunized. For additional purchases, the price would eventually drop to close to marginal cost. If no suitable product were developed, no payments would be made. We estimate the offer size which would make revenues similar to the revenues realized from investments in typical existing commercial pharmaceutical products, as well as the degree to which various model contracts and assumptions would affect the cost-effectiveness of such a commitment. We make adjustments for lower marketing costs under an advance market commitment and the risk that a developer may have to share the market with subsequent developers. We also show how this second risk could be reduced, and money saved, by introducing a superiority clause to a commitment. Under conservative assumptions, we document that a commitment comparable in value to sales earned by the average of a sample of recently launched commercial products (adjusted for lower marketing costs) would be a highly cost-effective way to address HIV/AIDS, malaria, and tuberculosis. Sensitivity analyses suggest most characteristics of a hypothetical vaccine would have little effect on the cost-effectiveness, but that the duration of protection conferred by a vaccine strongly affects potential cost-effectiveness. Readers can conduct their own sensitivity analyses employing a web-based spreadsheet tool. Copyright (c) 2006 John Wiley & Sons, Ltd.

Market Integration and Transport Costs in France 1825-1903

DEFF Research Database (Denmark)

Ejrnæs, Mette; Persson, Karl Gunnar

2000-01-01

This article argues that the appropriate standard for the analysis of commodity market integration is the transport cost adjusted law of one price. A threshold error correction model that incorporates that property is developed and applied to French wheat prices in the 19th century. This type...... to equilibrium price differentials between markets. Unlike previous studies this article shows that French wheat markets were well integrated by the middle of the 19th century...... of modeling acknowledges the fact that error corrections only take place when price differentials between markets exceed transport costs. The method used produces estimates of implied transport costs, which are quite close to observed costs, and generates more accurate estimates of the adjustment speed...

DOES ECO-EFFICENCY REDUCE THE COST OF EQUITY CAPITAL? EMPIRICAL EVIDENCE FROM INDONESIA

Directory of Open Access Journals (Sweden)

Lisa Alviani

2015-05-01

Full Text Available The objective of this study is to examine the effect of eco-efficiency on the cost of equity capital. The study hypothesizes that the implementation of eco-efficiency reduces the cost of equity capital. Using manufacturing companies listed on the Indonesian Stock Exchange for the period 2010-2012 as data, and controlling for beta, company size, Book to Market ratio, and leverage; the study finds that the implementation of eco-efficiency may reduce the cost of equity capital. The findings suggest that companies should implement eco-efficency.

A Stochastic Market Design With Revenue Adequacy and Cost Recovery by Scenario: Benefits and Costs

DEFF Research Database (Denmark)

Kazempour, Jalal; Pinson, Pierre; Hobbs, Benjamin F.

2018-01-01

Two desirable properties of electricity market mechanisms include: i) revenue adequacy for the market, and ii) cost recovery for all generators. Previously proposed stochastic market-clearing mechanisms satisfy both properties in expectation only, or satisfy one property by scenario and another...... scheme that ensures both properties by scenario. However, this approach is cost-inefficient in general and may sacrifice other desirable market attributes. Undesirable consequences include: one group of participants will have to pay more to ensure that all other participants have their costs covered......, and thus their prices will not be equilibrium supporting; and day-ahead and real-time prices are not arbitraged in expectation, although this can be fixed by allowing virtual bidders to arbitrage but at the potential cost of increased market inefficiency. Considering these pros and cons, we propose our...

Marketable pollution permits with uncertainty and transaction costs

International Nuclear Information System (INIS)

Montero, Juan-Pablo

1998-01-01

Increasing interest in the use of marketable permits for pollution control has become evident in recent years. Concern regarding their performance still remains because empirical evidence has shown transaction costs and uncertainty to be significant in past and existing marketable permits programs. In this paper we develop theoretical and numerical models that include transaction costs and uncertainty (in trade approval) to show their effects on market performance (i.e., equilibrium price of permits and trading volume) and aggregate control costs. We also show that in the presence of transaction costs and uncertainty the initial allocation of permits may not be neutral in terms of efficiency. Furthermore, using a numerical model for a hypothetical NO x trading program in which participants have discrete control technology choices, we find that aggregate control costs and the equilibrium price of permits are sensitive to the initial allocation of permits, even for constant marginal transaction costs and certainty

Making renewable energy competitive in India: Reducing financing costs via a government-sponsored hedging facility

International Nuclear Information System (INIS)

Farooquee, Arsalan Ali; Shrimali, Gireesh

2016-01-01

In India, a significant barrier to market-competitiveness of renewable energy is a shortage of attractive debt. Domestic debt has high cost, short tenors, and variable interest rates, adding 30% to the cost of renewable energy compared to renewable energy projects elsewhere. Foreign debt is as expensive as domestic debt because it requires costly market-based currency hedging solutions. We investigate a government-sponsored foreign exchange facility as an alternative to reducing hedging costs. Using the geometric Brownian motion (GBM) as a representative stochastic model of the INR–USD foreign exchange rate, we find that the expected cost of providing a currency hedge via this facility is 3.5 percentage points, 50% lower than market. This leads to an up to 9% reduction in the per unit cost of renewable energy. However, this requires the government to manage the risks related to unexpected currency movements appropriately. One option to manage these risks is via a capital buffer; for the facility to obtain India's sovereign rating, the capital buffer would need to be almost 30% of the underlying loan. Our findings have significant policy implications given that the Indian government can use this facility to make renewable energy more competitive and, therefore, hasten its deployment. - Highlights: • We analyze a government-sponsored foreign exchange facility in India. •We use geometric Brownian motion to represent the INR–USD exchange rate. •This facility can reduce the currency hedging costs by 50%. •This facility can reduce the levelized cost of renewable energy by 9%. •The capital buffer to reach India's sovereign rating is 30% of the original loan.

Guidelines for target costing adoption in the development of products for the residential real estate market

Directory of Open Access Journals (Sweden)

Reymard Savio Sampaio de Melo

Full Text Available Abstract This study focuses on the problems associated with the traditional practice of reducing costs in construction and the need to increase business competitiveness in the residential real estate sector. In this context, target costing is a promising approach to improve the competitiveness of companies by ensuring that the products launched on the market do not jeopardize the company's results and value delivery to customers. However, far too little attention is paid to target costing implementation by companies that develop residential real state products for sale and face strong market competition. Thus, this paper seeks to investigate whether the standard framework of target costing in the literature applies - with or without adjustments - to real estate developers. Case study was the research strategy adopted. Guidelines are proposed for the introduction of target costing in the development process of residential real estate products. The proposed guidelines are related to the three main sections of the target costing process: market-driven costing, product-level target costing and component-level target costing.

How Is the Liberalization of Food Markets Progressing? Market Integration and Transaction Costs in Subsistence Economies

NARCIS (Netherlands)

Zant, W.

2013-01-01

We propose a modification of Baulch's parity bounds model to measure the market integration of food markets in developing countries. Instead of extrapolating a single observation of transaction costs, we estimate transaction costs. Predicted transaction costs compare well with survey data of

Cost vs. Market Value: The Case for Reporting Endowment Investments at Market Value.

Science.gov (United States)

Bland, Harold

1992-01-01

The difference between cost and market value of endowment investments is significant for many colleges and universities. These investments should always be reported at market value to provide relevant, comparable, consistent, and understandable financial information. Nonmanagement users of institutional financial statements prefer market rather…

Redesign of an in-market food processor for manufacturing cost reduction using DFMA methodology

Directory of Open Access Journals (Sweden)

Akshay Harlalka

2016-01-01

Full Text Available Reducing the time and cost involved in the product development is very important to stay competitive in the market. Design for Manufacturing and Assembly (DFMA is a cost-reduction framework for designers to evaluate manufacturing aspects of a product design. A case study on an in-market food processor, this paper aims to demonstrate the significance of DFMA implementation on an Indian consumer product. Even though many DFMA case studies have been published till date, very few have dealt with the Indian consumer durables category. In this paper, various cost-reduction opportunities are identified in the design of a food processor manufactured by a reputed company in India. Using the DFMA study, design ideas are developed with an objective of reducing the overall manufacturing cost of the product. As a result of DFMA implementation, significant improvement in terms of the product’s architecture, assembly time and design efficiency is identified. Overall cost reduction of 0.25 USD (United States Dollar was achieved and an improvement in the Design for Assembly (DFA index from 15.99 to 19.93 is reported. This procedure utilized in this paper can be adopted for any consumer durable products of similar type and design improvements and cost reduction can be achieved.

Dynamic Stock Market Participation of Households with Heterogeneous Participation Costs

DEFF Research Database (Denmark)

Khorunzhina, Natalia

This paper develops and estimates a dynamic model of stock market participation, where consumers’ decisions regarding stock market participation are influenced by participation costs. The practical significance of the participation costs is considered as being a channel through which financial...... education programs can affect consumers’ investment decisions. Using household data from the Panel Study of Income Dynamics, I estimate the magnitude of the participation cost, allowing for individual heterogeneity in it. The results show the average stock market participation cost is about 5% of labor...... income; however, it varies substantially over consumers’ life. The model successfully predicts the level of the observed participation rate and the increasing pattern of stock market participation over the consumers’ life cycle....

Market failures, consumer preferences, and transaction costs inenergy efficiency purchase decisions

Energy Technology Data Exchange (ETDEWEB)

Sathaye, Jayant; Murtishaw, Scott

2004-11-23

Several factors limit the energy savings potential and increase the costs of energy-efficient technologies to consumers. These factors may usefully be placed into two categories; one category is what economists would define as market failures and the other is related to consumer preferences. This paper provides a conceptual framework for understanding the roles of these factors, and develops a methodology to quantify their effects on costs and potentials of two energy efficient end uses - residential lighting and clothes washers. It notes the significant roles played by the high implicit cost of obtaining information about the benefits of the two technologies and the apparent inability to process and utilize information. For compact fluorescent lamps, this report finds a conservative estimate of the cost of conserved energy of 3.1 cents per kWh. For clothes washers, including water savings reduces the cost of conserved energy from 13.6 cents to 4.3 cents per equivalent kWh. Despite these benefits, market share remains low. About 18 million tons of CO2 could be saved cost effectively from 2005 sales of these two technologies alone. The paper also notes that trading of carbon emissions will incur transaction costs that will range from less than 10 cents per metric ton of CO2 for larger size projects and programs to a few dollars per metric ton of carbon for the smaller ones.

HMO market penetration and costs of employer-sponsored health plans.

Science.gov (United States)

Baker, L C; Cantor, J C; Long, S H; Marquis, M S

2000-01-01

Using two employer surveys, we evaluate the role of increased health maintenance organization (HMO) market share in containing costs of employer-sponsored coverage. Total costs for employer health plans are about 10 percent lower in markets in which HMOs' market share is above 45 percent than they are in markets with HMO enrollments of below 25 percent. This is the result of lower premiums for HMOs than for non-HMO plans, as well as the competitive effect of HMOs that leads to lower non-HMO premiums for employers that continue to offer these benefits. Slower growth in premiums in areas with high HMO enrollments suggests that expanded HMO market share may also lower the long-run growth in costs.

Constraining Forest Certificate's Market to Improve Cost-Effectiveness of Biodiversity Conservation in São Paulo State, Brazil.

Science.gov (United States)

Bernasconi, Paula; Blumentrath, Stefan; Barton, David N; Rusch, Graciela M; Romeiro, Ademar R

2016-01-01

The recently launched Brazilian "forest certificates" market is expected to reduce environmental compliance costs for landowners through an offset mechanism, after a long history of conservation laws based in command-and-control and strict rules. In this paper we assessed potential costs and evaluated the cost-effectiveness of the instrument when introducing to this market constraints that aim to address conservation objectives more specifically. Using the conservation planning software Marxan with Zones we simulated different scopes for the "forest certificates" market, and compared their cost-effectiveness with that of existing command-and-control (C&C), i.e. compliance to the Legal Reserve on own property, in the state of São Paulo. The simulations showed a clear potential of the constrained "forest certificates" market to improve conservation effectiveness and increase cost-effectiveness on allocation of Legal Reserves. Although the inclusion of an additional constraint of targeting the BIOTA Conservation Priority Areas doubled the cost (+95%) compared with a "free trade" scenario constrained only by biome, this option was still 50% less costly than the baseline scenario of compliance with Legal Reserve at the property.

Constraining Forest Certificate's Market to Improve Cost-Effectiveness of Biodiversity Conservation in São Paulo State, Brazil.

Directory of Open Access Journals (Sweden)

Paula Bernasconi

Full Text Available The recently launched Brazilian "forest certificates" market is expected to reduce environmental compliance costs for landowners through an offset mechanism, after a long history of conservation laws based in command-and-control and strict rules. In this paper we assessed potential costs and evaluated the cost-effectiveness of the instrument when introducing to this market constraints that aim to address conservation objectives more specifically. Using the conservation planning software Marxan with Zones we simulated different scopes for the "forest certificates" market, and compared their cost-effectiveness with that of existing command-and-control (C&C, i.e. compliance to the Legal Reserve on own property, in the state of São Paulo. The simulations showed a clear potential of the constrained "forest certificates" market to improve conservation effectiveness and increase cost-effectiveness on allocation of Legal Reserves. Although the inclusion of an additional constraint of targeting the BIOTA Conservation Priority Areas doubled the cost (+95% compared with a "free trade" scenario constrained only by biome, this option was still 50% less costly than the baseline scenario of compliance with Legal Reserve at the property.

Consumer Cost Differences for Traditional and Internet Markets.

Science.gov (United States)

Shaw, Michael J.; Strader, Troy J.

1999-01-01

Addresses research issues related to the economics of electronic, Internet-based markets. Discusses consumer cost-based differences for traditional and electronic markets; revenue implications for sellers and transaction intermediaries; and results of an empirical, survey-based study of an electronic market in the sports trading-card industry.…

State distributed PV policies: Can low cost (to government) policies have a market impact?

International Nuclear Information System (INIS)

Krasko, Vitaliy A.; Doris, Elizabeth

2013-01-01

This analysis examines the use of state policy as a tool to support the development of distributed generation photovoltaic (PV) markets. The focus is on low-cost market opening policies instead of various forms of government subsidies aimed at reducing installation costs. The ideas tested in this work are: (1) low-cost market opening policies can be effective in facilitating PV market growth without subsidizing projects, and (2) policies can be made more effective if states and localities stage their enactment in a particular order. The policies selected for evaluation emerge from a policy stacking theory outlined in Doris (2012), NREL/CP-7A30-54801, Golden, CO: National Renewable Energy Laboratory. A cross-section econometric analysis that takes into account the quality of interconnection standards, net metering standards, Renewable Portfolio Standards (RPS), RPS set-asides, and a non-policy determinant (population) explains about 70% of the variation in newly installed PV capacity across states and indicates that all of the selected policies are significant. Nonparametric statistical tests confirm the regression results. Qualitative evidence is also presented indicating that effective policy ordering starts with improving interconnection standards, closely followed by improvements in net metering standards, and eventually strengthened by the enactment of an RPS and set-asides. - Highlights: • Impacts of low cost market opening policies on PV capacity are evaluated. • Impact of a strategic policy enactment sequence is evaluated. • Effective interconnection, net metering, RPS, and set-asides increase PV capacity. • Effective ordering is market preparation, then creation, then expansion policies

Cost-effectiveness of a ROPS social marketing campaign.

Science.gov (United States)

Sorensen, J A; Jenkins, P; Bayes, B; Clark, S; May, J J

2010-01-01

Tractor rollovers are the most frequent cause of death in the farm community. Rollover protection structures (ROPS) can prevent the injuries and fatalities associated with these events; however, almost half of U.S. farms lack these essential devices. One promising strategy for increasing ROPS use is social marketing. The purpose of this study was to assess the costs associated with the New York ROPS Social Marketing Campaign in relation to the cost of fatalities and injuries averted as a result of the campaign to determine whether cost savings could be demonstrated in the initial years of program implementation. A total of 524 farmers who had retrofitted a tractor through the program were mailed a survey to assess the number of rollovers or close calls that occurred since ROPS installation. Responses were obtained from 382 farmers, two of whom indicated that they had a potential fatality/injury scenario since retrofitting their tractor through the program. The cost savings associated with the intervention was estimated using a decision-tree analysis adapted from Myers and Pana-Cryan with appropriate consumer price index adjustments. The data were compared to the cost of the New York ROPS Social Marketing Campaign to arrive at an associated cost-savings estimate relative to the intervention. This study indicates that a net savings will likely be demonstrated within the third year of the New York ROPS Social Marketing initiative. These data may provide evidence for researchers hoping to generate support from state and private agencies for similar initiatives.

Integrating intermittent energy sources in liberalized electricity markets: from technical costs to economic penalties as a result of market rules

International Nuclear Information System (INIS)

Menanteau, Ph.; Finon, D.; Lamy, M.L.

2003-06-01

With the aim of preventing climatic change and ensuring the security of energy supplies, the recent European Directive on renewable energy production sources is aimed at bringing about a very substantial increase in electricity production from renewable sources in Europe by the 2010 horizon. Generally speaking, production of electricity from renewable sources will be assured by biomass and wind, and to a lesser extent by micro hydro, technologies whose characteristics are very different from the point of view of their integration into the electricity system. Their inclusion in the electricity systems will cause problems because of the intermittent nature of the production, a factor that does not enter into the paradigms of producers, system operators or regulators. The problems raised by the integration of intermittent production are technical in nature (risk of non-availability in peak periods, the need for additional reserves) and will incur adjustment costs, but the way in which the electricity markets function will impose economic penalties generally more substantial than the added technical costs. In this paper are examined in succession: (i) the additional costs raised by intermittence; (ii) the economic penalties imposed by the operating rules of de-regulated electricity markets with electricity production from renewable sources included, with particular reference to the case of the British and Nordic markets; and (iii) an analysis of the options that could limit the gap between the additional cost of intermittent production for the system and the adjustment surcharges imposed by the electricity markets, with the aim of reducing the tension between the deregulation of the electricity market and promoting the development of renewable energy sources. (A.L.B.)

Market Making in the Residential Real Estate Market

National Research Council Canada - National Science Library

Tenney, Curtis

2001-01-01

.... The benefits of having market makers range from shortening trading time and reducing transaction costs to transmitting information quicker and cheaper and reducing total selling costs and equilibrium prices...

Association of Hospital Market Concentration With Costs of Complex Hepatopancreaticobiliary Surgery.

Science.gov (United States)

Cerullo, Marcelo; Chen, Sophia Y; Dillhoff, Mary; Schmidt, Carl; Canner, Joseph K; Pawlik, Timothy M

2017-09-20

Trade-offs involved with market competition, overall costs to payers and consumers, and quality of care have not been well defined. Less competition within any given market may enable provider-driven increases in charges. To examine the association between regional hospital market concentration and hospital charges for hepatopancreaticobiliary surgical procedures. This study included all patients undergoing hepatic or pancreatic resection in the Nationwide Inpatient Sample from January 1, 2003, through December 31, 2011. Hospital market concentration was assessed using a variable-radius Herfindahl-Hirschman Index (HHI) in the 2003, 2006, and 2009 Hospital Market Structure files. Data were analyzed from November 19, 2016, through March 2, 2017. Hepatic or pancreatic resection. Multivariable mixed-effects log-linear models were constructed to determine the association between HHI and total costs and charges for hepatic or pancreatic resection. Weighted totals of 38 711 patients undergoing pancreatic resection (50.8% men and 49.2% women; median age, 65 years [interquartile range, 55-73 years]) and 52 284 patients undergoing hepatic resection (46.8% men and 53.2% women; median age, 59 years [interquartile range, 49-69 years]) were identified. Higher institutional volume was associated with lower cost of pancreatic resection (-5.4%; 95% CI, -10.0% to -0.5%; P = .03) and higher cost of hepatic resection (13.4%; 95% CI, 8.2% to 18.8%; P markets relative to moderately concentrated markets, although overall charges were 8.3% lower (95% CI, -14.0% to -2.3%; P = .008) in highly concentrated markets. For hepatic resections, hospitals in highly concentrated markets had 8.4% lower costs (95% CI, -13.0% to -3.6%; P = .001) compared with those in unconcentrated markets and charges that were 13.4% lower (95% CI, -19.3% to -7.1%; P markets and 10.5% lower (95% CI, -16.2% to -4.4%; P = .001) compared with unconcentrated markets. Higher market concentration was

Constraining Forest Certificate’s Market to Improve Cost-Effectiveness of Biodiversity Conservation in São Paulo State, Brazil

Science.gov (United States)

Blumentrath, Stefan; Barton, David N.; Rusch, Graciela M.; Romeiro, Ademar R.

2016-01-01

The recently launched Brazilian “forest certificates” market is expected to reduce environmental compliance costs for landowners through an offset mechanism, after a long history of conservation laws based in command-and-control and strict rules. In this paper we assessed potential costs and evaluated the cost-effectiveness of the instrument when introducing to this market constraints that aim to address conservation objectives more specifically. Using the conservation planning software Marxan with Zones we simulated different scopes for the “forest certificates” market, and compared their cost-effectiveness with that of existing command-and-control (C&C), i.e. compliance to the Legal Reserve on own property, in the state of São Paulo. The simulations showed a clear potential of the constrained “forest certificates” market to improve conservation effectiveness and increase cost-effectiveness on allocation of Legal Reserves. Although the inclusion of an additional constraint of targeting the BIOTA Conservation Priority Areas doubled the cost (+95%) compared with a “free trade” scenario constrained only by biome, this option was still 50% less costly than the baseline scenario of compliance with Legal Reserve at the property. PMID:27780220

Structural Estimation of Stock Market Participation Costs

DEFF Research Database (Denmark)

Khorunzhina, Natalia

2013-01-01

education programs can affect consumers' investment decisions. Using household data from the Panel Study of Income Dynamics, I estimate the magnitude of the participation cost, allowing for individual heterogeneity in it. The results show the average stock market participation cost is about 4–6% of labor...

Reducing the energy penalty costs of postcombustion CCS systems with amine-storage.

Science.gov (United States)

Patiño-Echeverri, Dalia; Hoppock, David C

2012-01-17

Carbon capture and storage (CCS) can significantly reduce the amount of CO(2) emitted from coal-fired power plants but its operation significantly reduces the plant's net electrical output and decreases profits, especially during times of high electricity prices. An amine-based CCS system can be modified adding amine-storage to allow postponing 92% of all its energy consumption to times of lower electricity prices, and in this way has the potential to effectively reduce the cost of CO(2) capture by reducing the costs of the forgone electricity sales. However adding amine-storage to a CCS system implies a significant capital cost that will be outweighed by the price-arbitrage revenue only if the difference between low and high electricity prices is substantial. In this paper we find a threshold for the variability in electricity prices that make the benefits from electricity price arbitrage outweigh the capital costs of amine-storage. We then look at wholesale electricity markets in the Eastern Interconnect of the United States to determine profitability of amine-storage systems in this region. Using hourly electricity price data from years 2007 and 2008 we find that amine storage may be cost-effective in areas with high price variability.

The long memory and the transaction cost in financial markets

Science.gov (United States)

Li, Daye; Nishimura, Yusaku; Men, Ming

2016-01-01

In the present work, we investigate the fractal dimensions of 30 important stock markets from 2006 to 2013; the analysis indicates that the Hurst exponent of emerging markets shifts significantly away from the standard Brownian motion. We propose a model based on the Hurst exponent to explore the considerable profits from the predictable long-term memory. We take the transaction cost into account to justify why the market inefficiency has not been arbitraged away in the majority of cases. The empirical evidence indicates that the majority of the markets are efficient with a certain transaction cost under the no-arbitrage assumption. Furthermore, we use the Monte Carlo simulation to display "the efficient frontier" of the Hurst exponent with different transaction costs.

Cheap versus expensive trades: Assessing the determinants of market impact costs

NARCIS (Netherlands)

Bikker, J.A.; Spierdijk, L.; van der Sluis, P.J.

2005-01-01

This paper assesses the determinants of market impact costs of institutional equity trades, using unique data from the world's second largest pension fund. We allow the impact of trade characteristics and market conditions on trading costs to depend on the level of trading costs itself and establish

Analysis of efficiency and marketing trends cost optimization in enterprises of baking branch

Directory of Open Access Journals (Sweden)

Lukan О.М.

2017-06-01

Full Text Available Today, at the bakery industry, little attention is paid to marketing activities. Limited financial resources and the lack of a comprehensive assessment of the effectiveness of marketing activities leads to a reduction in marketing budgets and a decrease in the profitability of the enterprise as a whole. Therefore, despite the complexity of conducting an analysis of the cost effectiveness of marketing activities, in market conditions it is necessary to control the level of costs and the formation of optimal marketing budgets. In the work it is determined that the main direction of marketing activity evaluation is the analysis of the cost effectiveness for its implementation. A scientific-methodical approach to the analysis of the effectiveness of marketing costs in the bakery industry is suggested. The analysis of the cost effectiveness of marketing activities on the basis of the assumption that marketing costs are a factor variable determining the patterns of changes in the values of the resulting indicators of financial and economic activities of the enterprise, such as net income from sales of products, gross profit, financial results from operating activities and net profit (losses. The main directions of optimization of marketing activities at bakery enterprises are given.

Social capital and transaction costs in millet markets.

Science.gov (United States)

Jacques, Damien Christophe; Marinho, Eduardo; d'Andrimont, Raphaël; Waldner, François; Radoux, Julien; Gaspart, Frédéric; Defourny, Pierre

2018-01-01

In sub-Saharan Africa, transaction costs are believed to be the most significant barrier that prevents smallholders and farmers from gaining access to markets and productive assets. In this study, we explore the impact of social capital on millet prices for three contrasted years in Senegal. Social capital is approximated using a unique data set on mobile phone communications between 9 million people allowing to simulate the business network between economic agents. Our approach is a spatial equilibrium model that integrates a diversified set of data. Local supply and demand were respectively derived from remotely sensed imagery and population density maps. The road network was used to establish market catchment areas, and transportation costs were derived from distances between markets. Results demonstrate that accounting for the social capital in the transaction costs explained 1-9% of the price variance depending on the year. The year-specific effect remains challenging to assess but could be related to a strengthening of risk aversion following a poor harvest.

Disclosure Regulation in Duopoly Markets: Proprietary Costs and Social Welfare

NARCIS (Netherlands)

Suijs, J.P.M.; Wielhouwer, J.L.

2014-01-01

The argument of proprietary costs is commonly used by firms to object against proposed disclosure regulations. The goal of this paper is to improve our understanding of the welfare consequences of disclosure in duopoly markets and to identify market settings where proprietary costs are a viable

Disclosure regulation in duopoly markets : Proprietary costs and social welfare

NARCIS (Netherlands)

Suijs, J.P.M.; Wielhouwer, J.L.

2014-01-01

The argument of proprietary costs is commonly used by firms to object against proposed disclosure regulations. The goal of this paper is to improve our understanding of the welfare consequences of disclosure in duopoly markets and to identify market settings where proprietary costs are a viable

Does a renewable fuel standard for biofuels reduce climate costs?

Energy Technology Data Exchange (ETDEWEB)

Greaker, Mads; Hoel, Michael; Rosendahl, Knut Einar

2012-07-01

Recent contributions have questioned whether biofuels policies actually lead to emissions reductions, and thus lower climate costs. In this paper we make two contributions to the literature. First, we study the market effects of a renewable fuel standard. Opposed to most previous studies we model the supply of fossil fuels taking into account that fossil fuels is a non-renewable resource. Second, we model emissions from land use change explicitly when we evaluate the climate effects of the renewable fuel standard. We find that extraction of fossil fuels most likely will decline initially as a consequence of the standard. Thus, if emissions from biofuels are sufficiently low, the standard will have beneficial climate effects. Furthermore, we find that the standard tends to reduce total fuel (i.e., oil plus biofuels) consumption initially. Hence, even if emissions from biofuels are substantial, climate costs may be reduced. Finally, if only a subset of countries introduce a renewable fuel standard, there will be carbon leakage to the rest of the world. However, climate costs may decline as global extraction of fossil fuels is postponed.(Author)

The social costs to the US of monopolization of the world oil market, 1972--1991

International Nuclear Information System (INIS)

Greene, D.L.; Leiby, P.N.

1993-03-01

The partial monopolization of the world oil market by the OPEC cartel has produced significant economic costs to the economies of the world. This paper reports estimates of the costs of monopolization of oil to the US over the period 1972--1991. Two fundamental assumptions of the analysis are, (1) that OPEC has acted as a monopoly, albeit with limited control, knowledge, and ability to act and, (2) that the US and other consuming nations could, through collective (social) action affect the cartel's ability to act as a monopoly. We measure total costs by comparing actual costs for the 1972--1991 period to a hypothetical ''more competitive'' world oil market scenario. By measuring past costs we avoid the enormous uncertainties about the future course of the world oil market and leave to the reader's judgment the issue of how much the future will be like the past. We note that total cost numbers cannot be used to determine the value of reducing US oil use by one barrel. They are useful for describing the overall size of the petroleum problem and are one important factor in deciding how much effort should be devoted to solving it. Monopoly pricing of oil transfers wealth from US oil consumers to foreign oil producers and, by increasing theeconomic scarcity of oil, reduces the economy's potential to produce. The actions of the OPEC cartel have also produced oil price shocks, both upward and downward, that generate additional costs because of the economy's inherent inability to adjust quickly to a large change in energy prices. Estimated total costs to the United States from these three sources for the 1972--1991 period are put at $4.1 trillion in 1990$($1.2 T wealth transfer, $0.8 T macroeconomic adjustment costs, $2.1 T potential GNP losses). The cost of the US's primary oil supply contingency program is small ($10 B) by comparison

Using forward markets to improve electricity market design

International Nuclear Information System (INIS)

Ausubel, Lawrence M.; Cramton, Peter

2010-01-01

Forward markets, both medium term and long term, complement the spot market for wholesale electricity. The forward markets reduce risk, mitigate market power, and coordinate new investment. In the medium term, a forward energy market lets suppliers and demanders lock in energy prices and quantities for one to three years. In the long term, a forward reliability market assures adequate resources are available when they are needed most. The forward markets reduce risk for both sides of the market, since they reduce the quantity of energy that trades at the more volatile spot price. Spot market power is mitigated by putting suppliers and demanders in a more balanced position at the time of the spot market. The markets also reduce transaction costs and improve liquidity and transparency. Recent innovations to the Colombia market illustrate the basic elements of the forward markets and their beneficial role. (author)

Using forward markets to improve electricity market design

Energy Technology Data Exchange (ETDEWEB)

Ausubel, Lawrence M.; Cramton, Peter [University of Maryland, College Park, MD 20742 (United States)

2010-12-15

Forward markets, both medium term and long term, complement the spot market for wholesale electricity. The forward markets reduce risk, mitigate market power, and coordinate new investment. In the medium term, a forward energy market lets suppliers and demanders lock in energy prices and quantities for one to three years. In the long term, a forward reliability market assures adequate resources are available when they are needed most. The forward markets reduce risk for both sides of the market, since they reduce the quantity of energy that trades at the more volatile spot price. Spot market power is mitigated by putting suppliers and demanders in a more balanced position at the time of the spot market. The markets also reduce transaction costs and improve liquidity and transparency. Recent innovations to the Colombia market illustrate the basic elements of the forward markets and their beneficial role. (author)

Effectiveness and cost-effectiveness of policies and programmes to reduce the harm caused by alcohol.

Science.gov (United States)

Anderson, Peter; Chisholm, Dan; Fuhr, Daniela C

2009-06-27

This paper reviews the evidence for the effectiveness and cost-effectiveness of policies and programmes to reduce the harm caused by alcohol, in the areas of education and information, the health sector, community action, driving while under the influence of alcohol (drink-driving), availability, marketing, pricing, harm reduction, and illegally and informally produced alcohol. Systematic reviews and meta-analyses show that policies regulating the environment in which alcohol is marketed (particularly its price and availability) are effective in reducing alcohol-related harm. Enforced legislative measures to reduce drink-driving and individually directed interventions to already at-risk drinkers are also effective. However, school-based education does not reduce alcohol-related harm, although public information and education-type programmes have a role in providing information and in increasing attention and acceptance of alcohol on political and public agendas. Making alcohol more expensive and less available, and banning alcohol advertising, are highly cost-effective strategies to reduce harm. In settings with high amounts of unrecorded production and consumption, increasing the proportion of alcohol that is taxed could be a more effective pricing policy than a simple increase in tax.

Social capital and transaction costs in millet markets

Directory of Open Access Journals (Sweden)

Damien Christophe Jacques

2018-01-01

Full Text Available In sub-Saharan Africa, transaction costs are believed to be the most significant barrier that prevents smallholders and farmers from gaining access to markets and productive assets. In this study, we explore the impact of social capital on millet prices for three contrasted years in Senegal. Social capital is approximated using a unique data set on mobile phone communications between 9 million people allowing to simulate the business network between economic agents. Our approach is a spatial equilibrium model that integrates a diversified set of data. Local supply and demand were respectively derived from remotely sensed imagery and population density maps. The road network was used to establish market catchment areas, and transportation costs were derived from distances between markets. Results demonstrate that accounting for the social capital in the transaction costs explained 1–9% of the price variance depending on the year. The year-specific effect remains challenging to assess but could be related to a strengthening of risk aversion following a poor harvest.

Renewable energy: Externality costs as market barriers

International Nuclear Information System (INIS)

Owen, Anthony D.

2006-01-01

This paper addresses the impact of environmentally based market failure constraints on the adoption of renewable energy technologies through the quantification in financial terms of the externalities of electric power generation, for a range of alternative commercial and almost-commercial technologies. It is shown that estimates of damage costs resulting from combustion of fossil fuels, if internalised into the price of the resulting output of electricity, could lead to a number of renewable technologies being financially competitive with generation from coal plants. However, combined cycle natural gas technology would have a significant financial advantage over both coal and renewables under current technology options and market conditions. On the basis of cost projections made under the assumption of mature technologies and the existence of economies of scale, renewable technologies would possess a significant social cost advantage if the externalities of power production were to be 'internalised'. Incorporating environmental externalities explicitly into the electricity tariff today would serve to hasten this transition process. (author)

Costs and remuneration of renewables in liberalized market

International Nuclear Information System (INIS)

Pezzaglia, M.

2008-01-01

The massive introduction of financial incentives schemes of production of energy from renewable sources result a rapid development of technology production and the market. The production costs are strongly influenced by types of technology. This studies have yet to track the costs of production [it

Operating Costs Reducing in MDF Manufacturing Industries

Directory of Open Access Journals (Sweden)

José Augusto Coeve Florino

2014-05-01

Full Text Available The sustained efforts by electric motors when subjected to cutting, trimming or finishing are directly related to the material being machined and the angle of attack of the tool. Choosing the right tool for this operation depends on an expected result. So the engines behave differently to each operation. The optimization between strength, speed, power, material and type of operation, can be found to reduce operational costs of production, besides determining the exact time to make the set-up of worn tool. The reduction in operating costs is an item of sustainability that outlines the strategic positioning on companies to become competitive in the global marketplace. With the great technological development present today, this issue goes away with the very latest products on the market for professionals who productivity will be dealt with in these modern maintenance equipment such as power quality analyzer, Imager, profile projector and microscope for research. The result of this work is the optimization of the cutting operation and energy consumption thereby demonstrating an optimum point of operation in a case study presented in this work.

Medium-term marginal costs in competitive generation power markets

International Nuclear Information System (INIS)

Reneses, J.; Centeno, E.; Barquin, J.

2004-01-01

The meaning and significance of medium-term marginal costs for a generation company in a competitive power market in analysed. A methodology to compute and decompose medium-term generation marginal costs in a competitive environment is proposed. The methodology is based on a market equilibrium model. The aim is to provide a useful tool for generation companies so that they can manage their resources in an optimal way, helping them with their operation, decision-making processes, asset valuations or contract assessments. (author)

The potential of urban tree plantings to be cost effective in carbon credit markets

Science.gov (United States)

M.R. McHale; E.G. McPherson; I.C. Burke

2007-01-01

Emission trading is considered to be an economically sensitive method for reducing the concentrations of greenhouse gases, particularly carbon dioxide, in the atmosphere. There has been debate about the viability of using urban tree plantings in these markets. The main concern is whether or not urban planting projects can be cost effective options for investors. We...

Forecasting market impact costs and identifying expensive trades

NARCIS (Netherlands)

Bikker, J.A.; Spierdijk, L.; Hoevenaars, R.P.M.M.; van der Sluis, P.J.

Often, a relatively small group of trades causes the major part of the trading costs on an investment portfolio. For the equity trades studied in this paper, executed by the world's second largest pension fund, we find that only 10% of all trades determines 75% of total market impact costs.

Short-term strategies for Dutch wind power producers to reduce imbalance costs

International Nuclear Information System (INIS)

Chaves-Ávila, José Pablo; Hakvoort, Rudi A.; Ramos, Andrés

2013-01-01

The paper assesses bidding strategies for a wind power producer in the Netherlands. To this end, a three-stage stochastic optimization framework is used, maximizing wind power producer's profit using the day-ahead and cross-border intraday market, taking into account available interconnection capacity. Results show that the wind power producer can increase its profits by trading on the intraday market and – under certain imbalance prices – by intentionally creating imbalances. It has been considered uncertainties about prices, power forecast and interconnection capacity at the day-ahead and intraday timeframes. - Highlights: ► A cross-border bidding strategy model for wind power producers has been developed. ► The model was applied to a real case study of a Dutch offshore wind power producer. ► Under certain imbalance prices, it is not profitable to deliver all possible power. ► Intraday markets give the possibility to reduce imbalance costs. ► Integration of intraday markets will increase liquidity.

Reducing operating costs: A collaborative approach between industry and electric utilities

International Nuclear Information System (INIS)

Tyers, B.; Sibbald, L.

1993-01-01

The unit cost of electricity to industrial consumers is expected to increase at a rate of 5% annually in the 1990s. The partnership that has been created between Amoco Canada Petroleum Company and TransAlta Utilities to control the cost of electricity is described. To allow the company to receive lower rates for interruptible power, a number of measures have been taken. The Amoco Whitecourt plant has standby generators in reserve that can be used when utility power is not available. A Pembina compressor can be turned off for up to 12 hours, at 30 minutes notice, without affecting field pressure. At the East Crossfield plant sales gas can be compressed using electricity or a gas-driven engine. Spot market energy is used in a number of plants allowing electric drive alternatives to plant operators and offering short term energy markets. TransAlta invests in electrical equipment such as switchgear as well as transmission lines and transformers. New rate alternatives offered by TransAlta Utilities include review of the need for a demand ratchet, additional time of use rates, unbundling of rates allowing power purchase from alternative sources, rates that follow product costs, reduced rates for conversion of gas to electric drives certain circumstances, energy audits, and power factor credits. 5 figs

States reducing solar's soft costs

Energy Technology Data Exchange (ETDEWEB)

Meehan, Chris

2012-07-01

In 2012 the costs of modules will drop below the balance of system costs or 'soft costs' of solar in the US. Federal policy that nationalizes permitting processes could reduce some of the soft costs, but is unlikely. That's why states like California, Colorado, Connecticut and Vermont passed own laws to reduce soft costs by speeding solar permitting and reducing fees. (orig.)

Marginal CO2 cost pass-through under imperfect competition in power markets

International Nuclear Information System (INIS)

Chernyavs'ka, Liliya; Gulli, Francesco

2008-01-01

In line with economic theory, carbon ETS determines a rise in marginal cost equal to the carbon opportunity cost regardless of whether carbon allowances are allocated free of charge or not. This paper aims at evaluating to what extent firms in imperfectly competitive markets will pass-through into electricity prices the increase in cost. By using the load duration curve approach and the dominant firm with competitive fringe model, we show that the result is ambiguous. The increase in price can be either lower or higher than the marginal CO 2 cost, depending on several structural factors: the degree of market concentration, the available capacity (whether there is excess capacity or not), the power plant mix in the market and the power demand level (peak vs. off-peak hours). The empirical analysis of the Italian context (an emblematic case of imperfectly competitive market), which can be split into four sub-markets with different structural features, provides a contribution supporting the model predictions. Market power, therefore, would determine a significant deviation from the 'full pass-through' rule but we cannot know the sign of this deviation, a priori, i.e. without before taking carefully into account the structural features of the power market. (author)

Information Cost, Memory Length and Market Instability.

Science.gov (United States)

Diks, Cees; Li, Xindan; Wu, Chengyao

2018-07-01

In this article, we study the instability of a stock market with a modified version of Diks and Dindo's (2008) model where the market is characterized by nonlinear interactions between informed traders and uninformed traders. In the interaction of heterogeneous agents, we replace the replicator dynamics for the fractions by logistic strategy switching. This modification makes the model more suitable for describing realistic price dynamics, as well as more robust with respect to parameter changes. One goal of our paper is to use this model to explore if the arrival of new information (news) and investor behavior have an effect on market instability. A second, related, goal is to study the way markets absorb new information, especially when the market is unstable and the price is far from being fully informative. We find that the dynamics become locally unstable and prices may deviate far from the fundamental price, routing to chaos through bifurcation, with increasing information costs or decreasing memory length of the uninformed traders.

Power plant asset market evaluations: Forecasting the costs of power production

Energy Technology Data Exchange (ETDEWEB)

Lefton, S A; Grunsrud, G P [Aptech Engineering Services, Inc., Sunnyvale, CA (United States)

1999-12-31

This presentation discusses the process of evaluating and valuing power plants for sale. It describes a method to forecast the future costs at a power plant using a portion of the past fixed costs, variable energy costs, and most importantly the variable cycling-related wear-and-tear costs. The presentation then discusses how to best determine market share, expected revenues, and then to forecast plant future costs based on future expected unit cycling operations. The presentation concludes with a section on recommendations to power plant buyers or sellers on how to manage the power plant asset and how to increase its market value. (orig.) 4 refs.

Power plant asset market evaluations: Forecasting the costs of power production

Energy Technology Data Exchange (ETDEWEB)

Lefton, S.A.; Grunsrud, G.P. [Aptech Engineering Services, Inc., Sunnyvale, CA (United States)

1998-12-31

This presentation discusses the process of evaluating and valuing power plants for sale. It describes a method to forecast the future costs at a power plant using a portion of the past fixed costs, variable energy costs, and most importantly the variable cycling-related wear-and-tear costs. The presentation then discusses how to best determine market share, expected revenues, and then to forecast plant future costs based on future expected unit cycling operations. The presentation concludes with a section on recommendations to power plant buyers or sellers on how to manage the power plant asset and how to increase its market value. (orig.) 4 refs.

Power plant asset market evaluations: Forecasting the costs of power production

International Nuclear Information System (INIS)

Lefton, S.A.; Grunsrud, G.P.

1998-01-01

This presentation discusses the process of evaluating and valuing power plants for sale. It describes a method to forecast the future costs at a power plant using a portion of the past fixed costs, variable energy costs, and most importantly the variable cycling-related wear-and-tear costs. The presentation then discusses how to best determine market share, expected revenues, and then to forecast plant future costs based on future expected unit cycling operations. The presentation concludes with a section on recommendations to power plant buyers or sellers on how to manage the power plant asset and how to increase its market value. (orig.) 4 refs

Highly reusable space transportation: Approaches for reducing ETO launch costs to $100 - $200 per pound of payload

Science.gov (United States)

Olds, John R.

1995-01-01

The Commercial Space Transportation Study (CSTS) suggests that considerable market expansion in earth-to-orbit transportation would take place if current launch prices could be reduced to around $400 per pound of payload. If these low prices can be achieved, annual payload delivered to low earth orbit (LEO) is predicted to reach 6.7 million pounds. The primary market growth will occur in communications, government missions, and civil transportation. By establishing a cost target of $100-$200 per pound of payload for a new launch system, the Highly Reusable Space Transportation (HRST) program has clearly set its sights on removing the current restriction on market growth imposed by today's high launch costs. In particular, achieving the goal of $100-$200 per pound of payload will require significant coordinated efforts in (1) marketing strategy development, (2) business planning, (3) system operational strategy, (4) vehicle technical design, and (5) vehicle maintenance strategy.

Competitive pricing in markets with different overhead costs : Concealment or leakage of cost information?

NARCIS (Netherlands)

Cardinaels, E.; Roodhooft, F.; Warlop, L.; Van Herck, G.

2008-01-01

This paper experimentally investigates how leaders and followers in a duopoly set prices for two product markets that have different overhead costs. In a fully crossed two‐by‐two design, we manipulate the participants' private cost report quality as either low or high, representing the extent to

Effect of Climate Change and Transaction Costs on Performance of a Groundwater Market

Science.gov (United States)

Khan, H. F.; Brown, C.

2017-12-01

With surface water resources becoming increasingly stressed, groundwater extraction, much of it unmanaged, has increased globally. Incentive-based policies, such as the cap-and-trade system, have been shown to be useful in the context of groundwater management. Previous research has shown that optimal groundwater markets (i.e. incentives-based policy) outperforms water quotas (command and control policy) with regards to both economic and environmental outcomes. In this work, we investigate whether these advantages of a water market over water quotas hold when assumptions of perfect information are violated due to climate change and hydrogeologic heterogeneity. We also assess whether the benefits of a cap-and-trade system outweigh the costs of implementing it, and how changes in future climate affect the performance a cap-and trade system. We use a sub-basin of the Republican River Basin, overlying the Ogallala aquifer in the High Plains of the United States, as a case study. We develop a multi-agent system model where individual benefits of each self-interested agent are maximized subject to bounds on irrigation requirements and water use permits. This economic model is coupled with a calibrated physically based groundwater model for the study region. Results show that permitting farmers to trade results in increased economic benefits and reduced environmental violations. However, the benefits of trading are dependent on the total allocations and the resulting level of water demand. We quantify third party impacts and environmental externalities for different water allocations, and highlight the unequal distributional effects of uniform water allocations resulting in `winners' and `losers'. The study reveals that high transaction costs can reduce the efficiency of the cap-and-trade system even below that of water quotas. Future changes in climate are shown to significantly influence the dynamics of the water market, and emphasize the need to address climate

Market power and technological bias in electricity generation markets

International Nuclear Information System (INIS)

Twomey, Paul; Neuhoff, Karsten

2005-01-01

It is difficult or very costly to avoid all market power in electricity markets. A recurring response is that a limited amount of market power is accepted with the justification that it is necessary to produce revenues to cover some of the fixed costs. It is assumed that all market participants benefit equally from the increased prices. However, this assumption is not satisfied if different production technologies are used. We assess the case of a generation mix of conventional generation and intermittent generation with exogenously varying production levels. If all output is sold in the spot market, then intermittent generation benefits less from market power than conventional generation. If forward contracts or option contracts are signed, then market power might be reduced but the bias against returns to intermittent generators persists. Thus allowing some level of market power as a means of encouraging investment in new generation may result in a bias against intermittent technologies or increase the costs of strategic deployment to achieve renewable quotas. (Author)

The cost-effectiveness of methanol for reducing motor vehicle emissions and urban ozone

International Nuclear Information System (INIS)

Krupnick, A.J.; Walls, M.A.

1992-01-01

This article analyzes the costs and emissions characteristics of methanol vehicles. The cost-effectiveness of methanol - the cost per ton of reactive hydrocarbon emissions reduced - is calculated and compared to the cost-effectiveness of other hydrocarbon reduction strategies. Methanol is found to cost from $33,000 to nearly $60,000 per ton, while several other options are available for under $10,000 per ton. The cost per part-per-million reduction in peak ambient ozone levels is also computed for two cities, Houston and Philadelphia. Despite the greater improvement in ozone in Philadelphia than Houston, methanol is found to be more cost-effective in Houston. This result occurs because Houston's distribution and marketing costs are lower than Philadelphia's. The costs in both cities, however, are far higher than estimates of the benefits from acute health improvements. Finally, the reduction in ozone exposure in Los Angeles is estimated and the costs of the reduction compared with an estimate of acute health benefits. Again, the benefits fall far short of the costs. 51 refs., 5 tabs

Reducing costs by reducing size

International Nuclear Information System (INIS)

Hayns, M.R.; Shepherd, J.

1991-01-01

The present paper discusses briefly the many factors, including capital cost, which have to be taken into account in determining whether a series of power stations based on a small nuclear plant can be competitive with a series based on traditional large unit sizes giving the guaranteed level of supply. The 320 MWe UK/US Safe Integral Reactor is described as a good example of how the factors discussed can be beneficially incorporated into a design using proven technology. Finally it goes on to illustrate how the overall costs of a generating system can indeed by reduced by use of the 320 MWe Safe Integral Reactor rather than conventional units of around 1200 MWe. (author). 9 figs

Swedish market entry strategy utilizing Internet marketing: the utilization of Internet marketing in a cost effective and efficient way to market a virtual world

OpenAIRE

Möller, Per

2010-01-01

The purpose of this thesis is to review published literature both printed and electronic on the subject of Internet marketing. This will aid to provide guidance on how a newly started virtual world company would be able to conduct as cost effective and efficient Internet marketing as possible with focus on entering the Swedish market. The theory part of the thesis will review the most relevant technologies and marketing concepts for the commissioner of this work. The empirical part of the the...

THE MULTINATIONAL COMPANIES AND THE LOW-COST MARKETS OF SOUTH-EAST ASIA

Directory of Open Access Journals (Sweden)

Diaconu Laura

2009-05-01

Full Text Available In order to be considered a low-cost market, the cost advantage of one or more factors of production offered by a state – generally, a developing one – must be exploited by the multinational firms. Therefore, we may speak about these markets only after 19

Using the market at a cost: How the introduction of green certificates in Sweden lead to market inefficiencies

International Nuclear Information System (INIS)

Sundqvist, Thomas; Nilsson, Mats

2005-01-01

The paper examines the transactions costs in the Swedish electricity retail market arising as a result of the implementation of a green certificate system. Since transaction costs cannot be measured directly, we analyze the margin between what the retailers pay for the certificates and what they charge the end-users for the certificate service. Our results show the necessity to put either market or regulatory pressure on the retailers. There are strong indications that the retailers have used the green certificate market to extract oligopoly rents. We propose that the competitive pressure on the retailers should be strengthened by, for example, shifting the quota obligation to the retailers and/or by including the pricing of the certificate-service in the end-user price of electricity. Furthermore, we restate the obvious fact that the number of policy instruments implemented in a particular market matters insofar that each and every policy will create transaction costs. (Author)

From national air carriers to low-cost companies: Effects of successful marketing strategy implementation

Directory of Open Access Journals (Sweden)

Aćimović Slobodan

2009-01-01

Full Text Available Huge changes in marketing strategies and, more generally - in business philosophies are not so often. During the last 20 years global and/or national companies have already defined their general approaches of marketing instruments implementation. Therefore, when a contemporary company changes something in its marketing approach, it usually only refers to 'subtle adjustment' of the already determined strategy. Another reason for changes in a particular segment of marketing is a crisis of some kind that forces firms to implement innovations, especially regarding the elements such as costs - price - or service quality. A global enterprise segment consisting of low tariff airline companies is here identified as the one that has dramatically changed its marketing approach within the last 20 years, which continually resulted in its improved market position and business results. Changes in marketing strategies of low-cost companies have truly been revolutionary and are completely the consequence of recognizing the real needs of clients who use services of air transport. The success of low-cost airline companies is forcing the traditional, classic, air carriers to adapt their marketing instruments to this new model of business management. This paper also identifies one very significant assumption of the low-cost carriers phenomenon and their marketing approach - the liberalization of the global air transport market.

Financial restructuring and stranded costs: quantification and effect on market rules

Energy Technology Data Exchange (ETDEWEB)

Baird, F.; Marcus, W.

1999-03-01

Fred Baird, Director of Putnam, Hayes and Bartlett Inc., predicted that the province`s market rules would not inhibit new investment, an important point, since the prime test of real competition is the possibility of new entries into the market. Ontario`s approach to competition will ensure that marginal prices are competitive, and will limit Genco`s ability to charge above-market rents or practice volume accommodation strategies that would lead to unnecessary investment. Genco will not have control over the residual market, since the company will not be the supplier of last resort. These are crucial factors of success since the point of dealing with market power is to move towards an economically efficient outcome. Bill Marcus, Principal Economist of JBS Energy Inc. of Sacramento, California discussed strategies for calculating stranded debt and the treatment of Ontario Hydro`s nuclear recovery costs. He identified two critical differences in Ontario`s administrative method for calculating stranded costs: (1) past costs (such as decommissioning) are lumped in with future costs, and (2) the overall figures are based on aggregate calculations, covering the whole corporation. In most other jurisdictions `going forward costs` like fuel costs, operating and maintenance, capital additions, and retubing, are excluded. The difference is important because operating subsidies (which is what is involved in this method of calculation) harm both competitors as well as ratepayers. With respect to nuclear assets he prophesied that Ontario Hydro`s nuclear optimization program, if successful, will add only limited value to the nuclear assets, but will cannibalize the value of the rest of Ontario Hydro. He recommended that the Ministry of Finance pursue a strategy that maximizes the value of the whole company, not just the nuclear assets.

Generic atorvastatin, the Belgian statin market and the cost-effectiveness of statin therapy.

Science.gov (United States)

Simoens, Steven; Sinnaeve, Peter R

2013-02-01

This study examines how the market entry of generic atorvastatin influences the Belgian statin market and the cost-effectiveness of statin therapy. Using IMS Health data, the Belgian 2000-2011 statin market was analyzed in terms of total expenditure, annual price of statin treatment, and patient numbers. A simulation analysis projected statin market shares from 2012 to 2015 following market entry of generic atorvastatin. This analysis was based on three scenarios regarding the number of patients taking specific statins. Savings associated with an atorvastatin price reduction of 50-70 % were calculated. A literature review of economic evaluations assessed the cost-effectiveness of generic atorvastatin. Statin expenditure increased from €113 million in 2000 to €285 million in 2011 due to higher expenditure on atorvastatin and rosuvastatin. Although the number of patients treated with simvastatin increased by nearly 800 %, the resulting increase in expenditure was partially offset by price reductions. Atorvastatin is projected to become the dominant product in the Belgian statin market (market share of 47-66 % by 2015). Annual savings would attain €108.6-€153.7 million for a 50 % reduction in the atorvastatin price and €152.0-€215.2 million for a 70 % price reduction. The literature suggests that generic atorvastatin is cost-effective as compared to simvastatin. The limited evidence about the cost-effectiveness of rosuvastatin as compared with generic atorvastatin is inconclusive. Generic atorvastatin is cost-effective as compared to simvastatin, is projected to become the dominant product in the Belgian statin market and is expected to generate substantial savings to health care payers.

Cost analysis, cost recovery, marketing and fee-based services a guide for the health sciences librarian

CERN Document Server

Wood, M Sandra

2013-01-01

This outstanding volume won the 1986 Ida and George Eliot Prize--awarded by the Medical Library Association for the work judged most effective in furthering medical librarianship. Library professionals review the controversy behind fee-for-service programs and provide a rationale for incorporating them into contemporary library philosophies of service. Some fee-based services are necessary for survival in a society that treats information as a marketable commodity; this comprehensive book gives practical advice on cost analysis, cost recovery and marketing of reference services, and presents i

Preliminary evaluation of the lifecycle costs and market barriers of reflective pavements; TOPICAL

International Nuclear Information System (INIS)

Ting, M.; Koomey, J.G.; Pomerantz, M.

2001-01-01

The objective of this study is to evaluate the life cycle costs and market barriers associated with using reflective paving materials in streets and parking lots as a way to reduce the urban heat island effect. We calculated and compared the life cycle costs of conventional asphalt concrete (AC) pavements to those of other existing pavement technologies with higher reflectivity-portland cement concrete (PCC), porous pavements, resin pavements, AC pavements using light-colored chip seals, and AC pavements using light-colored asphalt emulsion additives. We found that for streets and parking lots, PCC can provide a cost-effective alternative to conventional AC when severely damaged pavements must be completely reconstructed. We also found that rehabilitating damaged AC streets and intersections with thin overlays of PCC (ultra-thin white topping) can often provide a cost-effective alternative to standard rehabilitation techniques using conventional AC. Chip sealing is a common maintenance treatment for low-volume streets which, when applied using light-colored chips, could provide a reflective pavement surface. If the incremental cost of using light-colored chips is low, this chip sealing method could also be cost-effective, but the incremental costs of light-colored chips are as of yet uncertain and expected to vary. Porous pavements were found to have higher life cycle costs than conventional AC in parking lots, but several cost-saving features of porous pavements fell outside the boundaries of this study. Resin pavements were found to be only slightly more expensive than conventional AC, but the uncertainties in the cost and performance data were large. The use of light-colored additives in asphalt emulsion seal coats for parking lot pavements was found to be significantly more expensive than conventional AC, reflecting its current niche market of decorative applications. We also proposed two additional approaches to increasing the reflectivity of conventional AC

Switching benefits and costs in competitive health insurance markets: A conceptual framework and empirical evidence from the Netherlands.

Science.gov (United States)

Duijmelinck, Daniëlle M I D; Mosca, Ilaria; van de Ven, Wynand P M M

2015-05-01

Competitive health insurance markets will only enhance cost-containment, efficiency, quality, and consumer responsiveness if all consumers feel free to easily switch insurer. Consumers will switch insurer if their perceived switching benefits outweigh their perceived switching costs. We developed a conceptual framework with potential switching benefits and costs in competitive health insurance markets. Moreover, we used a questionnaire among Dutch consumers (1091 respondents) to empirically examine the relevance of the different switching benefits and costs in consumers' decision to (not) switch insurer. Price, insurers' service quality, insurers' contracted provider network, the benefits of supplementary insurance, and welcome gifts are potential switching benefits. Transaction costs, learning costs, 'benefit loss' costs, uncertainty costs, the costs of (not) switching provider, and sunk costs are potential switching costs. In 2013 most Dutch consumers switched insurer because of (1) price and (2) benefits of supplementary insurance. Nearly half of the non-switchers - and particularly unhealthy consumers - mentioned one of the switching costs as their main reason for not switching. Because unhealthy consumers feel not free to easily switch insurer, insurers have reduced incentives to invest in high-quality care for them. Therefore, policymakers should develop strategies to increase consumer choice. Copyright © 2014 Elsevier Ireland Ltd. All rights reserved.

Deregulation of the Nordic power market and environmental policy

International Nuclear Information System (INIS)

Amundsen, E.S.; Nesse, A.; Tjoetta, S.

1999-01-01

A common Nordic power market will reduce total CO2 emissions in the Nordic countries as compared to a situation of autarky and, thus, reduce the aggregate cost of complying to strict national CO2 emission targets. A common market for CO2 emission permits may reduce the aggregate cost further, but this cost reduction will be smaller the harsher the CO2 emission constraints are. The economic gain of introducing a common Nordic power market will be particularly large in the case of a Swedish nuclear power phase out. In this case, the cost reduction of introducing a common market for CO2 emission permits will not be very large. 10 refs

Analysis of the Photovoltaic Market 2001. Cost of PV Components and Systems

International Nuclear Information System (INIS)

Balenzategui Manzanares, J. L.

2002-01-01

This document tries to study the development and evolution of the photovoltaic market at a national and international scale, and to analyse its current status at the end of 2001. The paper broaches the study from different points of view. At the first step, the actual great expansion of the global market is analysed by means of the data for international sales and shipments of photovoltaic modules, which are completed with figures of the main countries and manufacturing companies involved in the market, the end-use applications, the installed power per country, the technologies used and the evolution of the cost of the modules. By using the same kind of parameters, the particular conditions of the Spanish market is then analysed, and the current national norms and plans for promotion and their short term perspectives are reviewed and discussed. As a complementary aspect, a simple cost analysis of the main components of a photovoltaic system in the Spanish market is carried out, together with the costs of complete installations. The average values for components and systems are obtained and are compared with those from preceding years. These data allow evaluating in practice how the global situation is reflected in the final cost of the photovoltaic devices for consumers. (Author) 56 refs

Marketing techniques and cost calculations of radiation vulcanised natural rubber latex (RVNRL)

International Nuclear Information System (INIS)

Wan Manshol Wan Zin; Chai Chee Keong; Najib Mohammed Zakey; Hafizuddin Maseri

2005-01-01

This paper describes how RVNRL is promoted to the latex based industries locally and abroad. RVNRL promotion requires patience and very challenging. This is a fact since the product is new to the market. Cost is important in deciding its market and potential usage. The elements that contribute to the cost is described in this paper. (Author)

Cost and returns analysis of catfish marketing in Aba South Local ...

African Journals Online (AJOL)

Cost and returns analysis of catfish marketing in Aba South Local Government Area of Abia State, Nigeria. ... The constraints militating against catfish marketing were also identified. ... EMAIL FREE FULL TEXT EMAIL FREE FULL TEXT

Caste Discrimination and Transaction Costs in the Labor Market: Evidence from Rural North India

OpenAIRE

Takahiro Ito

2007-01-01

This paper is an empirical attempt to quantify caste-based discrimination in thelabor market using household data taken from rural North India. In the regressionanalysis, transaction costs associated with entry into the labor market and reservationwages are estimated simultaneously along with market wages. The estimation resultsprovide evidence of the existence of transaction costs in the labor market anddiscrimination against backward classes with regard to access to regular employment. Inli...

cost and returns analysis of catfish marketing in aba south local

African Journals Online (AJOL)

The study analyzed the cost and returns of catfish marketing in Aba South ... significantly influenced net income should be considered in policy issues. ... entrepreneur/manager at a profit. .... marketers were well experienced in their business.

Costs and benefits of Danish active labour market programmes

DEFF Research Database (Denmark)

Jespersen, Svend; Munch, Jakob Roland; Skipper, Lars

2008-01-01

Since 1994, unemployed workers in the Danish labour market have participated in active labour market programmes on a large scale. This paper contributes with an assessment of costs and benefits of these programmes. Long-term treatment effects are estimated on a very detailed administrative dataset...... prospects in the long run. When the cost side is taken into account, private and public job training still come out with surplusses, while classroom training leads to a deficit....... by propensity score matching. For the years 1995 - 2005 it is found that private job training programmes have substantial positive employment and earnings effects, but also public job training ends up with positive earnings effects. Classroom training does not significantly improve employment or earnings...

Marginal cost and congestion in the Italian electricity market: An indirect estimation approach

International Nuclear Information System (INIS)

Bigerna, Simona; Andrea Bollino, Carlo; Polinori, Paolo

2015-01-01

In this paper we construct an indirect measure of the supply marginal cost function for the main generators from the observed bid data in the Italian electricity market in the period 2004–2007. We compute the residual demand function for each generator, taking explicitly into account the issue of transmission line congestion. This procedure allows recovering correct zonal Lerner index and the implied measure of the marginal cost function. We find evidence of a stable U-shaped marginal cost function for three main Italian generators, but a flat function for ENEL, the former national monopolist. The policy relevance of our approach lies in the possibility to offer some empirical knowledge of the marginal cost function of each generator to the regulator to design appropriate policy measures geared to the promotion of competitive market conditions. We propose a new market surveillance mechanism, which is based on the principle of sanctioning excessive deviations from the estimated measure of the marginal cost function presented in this work. -- Highlights: •We construct an indirect measure of the supply marginal cost function. •We compute the residual demand function taking into account transmission line congestion. •We find a general evidence of a stable U-shaped marginal cost function for Italian generators. •We find flat marginal cost function for the former national monopolist. •We use excessive deviations from estimated marginal cost function as a new market surveillance mechanism

Increasing electric vehicle policy efficiency and effectiveness by reducing mainstream market bias

International Nuclear Information System (INIS)

Green, Erin H.; Skerlos, Steven J.; Winebrake, James J.

2014-01-01

Plug-in electric vehicles (PEVs) provide an opportunity for reducing energy use and emissions in the transportation sector. Currently, a number of federal policies are in place to incentivize deployment of PEVs to mainstream consumers with demographics and vehicle attribute preferences most common to today's new vehicle purchasers. This article argues that policies intending to give PEVs a foothold in the market should not focus on mainstream consumers and should instead focus on niche markets—specifically carsharing and postal fleets—and early adopters including green consumers. Two arguments can be made in support of eliminating the mainstream market bias of current policies toward a policy of cultivating niche markets. The first is efficiency: so far PEV policies featuring a mainstream market bias have proven to be inefficient and costly. The second is effectiveness: it is becoming increasingly evident that PEV policies would be more effective in achieving potential societal benefits if they focused on early adopters and niche markets using such approaches as strategic niche management, accessible loans and financing, and appropriately targeted incentives. PEV policies focused on early adopters and niche markets would create complementary system effects that will lead to increased PEV market penetration and realization of intended societal benefits. - Highlights: • We argue that U.S. electric vehicle policies are inefficient and ineffective. • We introduce “mainstream consumer bias” as an explanation for policy deficiencies. • We propose an alternative policy agenda to address some of these policy problems. • Proposed policy options include strategic niche management, targeted R and D and incentives, and loans

Costs for Alternatives to District Heating. A study of real costs on local heating markets; Alternativkostnad till fjaerrvaerme. En studie av verkliga kostnader paa lokala vaermemarknader

Energy Technology Data Exchange (ETDEWEB)

Carlson, Annelie; Lehtmets, Marti; Andersson, Sofie

2008-07-01

Heating comprise the major part of the cost of supporting a building with necessities like electricity, heat, refuse collection and water and sewage. As these costs increase, it is becoming more interesting to find other solutions in order to reduce them. One alternative is to convert to another heating system. Several price analyses comparing different heating systems have been performed. Avgiftsgruppen publishes one report on a yearly basis, where the costs to support a building with necessities and how they vary between communities are listed. The latest report states that it is less expensive in 75 % of the communities in Sweden to convert from district heating to a pellets boiler or a ground-source pump. However, other studies have established that the heat market is a local market with local conditions. Therefore you need to compare alternative heating costs that are specific to the area instead of estimated average costs at a national level. The purpose of this survey is to study a local heat market in order to verify the real cost of the alternative heating systems to district heating and if these costs vary between different communities. The hypothesis is that it is not possible to generalize the heating cost on a national level. Instead, a local market should be studied to make an accurate cost comparison between heating options. Three communities are studied in order to find real and verified investment costs in pellet boilers and heat pumps. The investments that are of primary interest are those performed in buildings similar to the multi-dwelling house used in earlier price analyses. Furthermore, the building should be located within the distribution network of district heating in order to illustrate the competition between the heating alternatives. The result of the study illustrates the difficulties to find real and verified costs of completed investments in alternative heating systems in buildings that is of primary interest for this study. Contacts

MOBILE MARKETING - TRENDS ON THE ROMANIAN ADVERTISING MARKET

OpenAIRE

Dinu Cristina; Iatagan Mariana; Natalia Manea

2010-01-01

In these times of economic crisis, the advertising market goes through a difficult period, as companies reduce marketing budgets drastically trying to reduce their costs. For some companies, mobile phone can be a very effective communication channel because mobile adds are much cheaper than classic advertising, offers many advantages as a means to promote and may become an "ally" of those companies that support sustainable development and social responsibility. The article present a SWOT anal...

Canadian Food Dollar: Breakdown between Farm and Marketing Costs

OpenAIRE

Kelly, Jessica; Weersink, Alfons; Cranfield, John

2013-01-01

This poster assesses the breakdown of the Canadian food dollar between farm and marketing costs. It uses input-output methods, comparable to those used by the Economic Research Service (ERS), in order to allow for Canadian-American comparison. The farm share and marketing bill provide a valuable snapshot of the dynamics of the agri-food supply chain, changing consumer demands, and the resultant value distribution of the retail food dollar.

Market Potential Study for Standing Cabin Concept for Domestic Low-Cost Commercial Airlines in Malaysia

Science.gov (United States)

Romli, Fairuz I.; Dasuki, Norhafizah; Yazdi Harmin, Mohammad

2016-02-01

An affordable air transportation has become the operational aim of many airlines these days. This is to cater the growing air travel demands from people of different social and economic status. One of the revolutionary proposals to reduce the operational costs, hence the flight ticket price, is by introducing the so-called standing cabin concept. This concept involves transporting passengers during the entire flight in their standing position with a proper support of a vertical seat. As can be expected with many new inventions, despite its clear advantages, the concept has been met with mixed reactions from the public. This study intends to establish whether the standing cabin concept has a market potential to be implemented for domestic flights in Malaysia. The public perception is determined from collected data through a survey done at two major local low-cost airport terminals. It can be concluded from the results that the concept has a good market potential for application on flights with duration of less than two hours.

The Hidden Costs of Tax Evasion: Collaborative Tax Evasion in Markets for Expert Services

OpenAIRE

Balafoutas, Loukas; Beck, Adrian; Kerschbamer, Rudolf; Sutter, Matthias

2015-01-01

We experimentally examine the impact of tax evasion attempts on the performance of credence goods markets, where contractual incompleteness results from asymmetric information on the welfare maximizing quality of the good. Our results suggest that tax evasion attempts – independently of whether they are successful or not – lead to efficiency losses in the form of too low quality and less frequent trade. Thus, shadow economies may reduce welfare not only by inducing agents to incur costs to hi...

Integration of REDD into the international carbon market: Implications for future commitments and market regulation

OpenAIRE

Dixon, Alistair; Anger, Niels; Holden, Rachel; Livengood, Erich

2008-01-01

Integrating reduced emissions from deforestation and degradation (REDD) into a post-Kyoto intergovernmental carbon market could significantly decrease global carbon prices and the costs of mitigating climate change. We investigate this impact by simulating the impact of the supply of REDD units on the international carbon market in 2020 under unlimited and restricted exchange conditions. We find restricting supply or demand of REDD credits reduces such price impacts, but comes at the cost of ...

End user prices in liberalised energy markets

Energy Technology Data Exchange (ETDEWEB)

Lijesen, M.G. [Afdeling Energie en Grondstoffen, Centraal Planbureau CPB, Den Haag (Netherlands)

2002-12-01

As European energy markets move towards deregulation, energy prices shift from classic 'cost plus' prices towards market prices. We develop a model for the retail and wholesale energy markets in Europe, based on Bertrand competition in a two part pricing structure with switching costs. We use the model to forecast end user electricity and natural gas prices and find that the introduction of competition in energy retail and wholesale markets will decrease standing charges, lowering total costs for energy users. A larger number of entrants, a cost advantage for one of the suppliers, or lower switching costs reduces standing charges further.

Fixed Costs and the Product Market Treatment of Preference Minorities

OpenAIRE

Steven Berry; Alon Eizenberg; Joel Waldfogel

2014-01-01

It is well documented that, in the presence of substantial fixed costs, markets offer preference majorities more variety than preference minorities. This fact alone, however, does not demonstrate the market outcome is in any way biased against preference minorities. In this paper, we clarify the sense in which the market outcome may in fact be biased against preference minorities, and we provide some conditions for such bias to occur. We then estimate the degree of bias in a particular indust...

The Market Value and Cost of Solar Photovoltaic Electricity Production

OpenAIRE

Borenstein, Severin

2008-01-01

The high cost of power from solar photovoltaic (PV) panels has been a major deterrent to the technology’s market penetration. Proponents have argued, however, that typical analyses overlook many of the benefits of solar PV. Some of those benefits are in the realm of environmental and security externalities, but others occur within the electricity markets. In this paper, I attempt to do a more complete market valuation of solar PV. I incorporate the fact that power from solar PV panels is gene...

The effective cost of tritium for tokamak fusion power reactors with reduced tritium production systems

International Nuclear Information System (INIS)

Gilligan, J.G.; Evans, K.

1983-01-01

If sufficient tritium cannot be produced and processed in tokamak blankets then at least two alternatives are possible. Tritium can be purchased; or reactors with reduced tritium (RT) content in the plasma can be designed. The latter choice may require development of magnet technology etc., but the authors show that the impact on the cost-of-electricity may be mild. Cost tradeoffs are compared to the market value of tritium. Adequate tritium production in fusion blankets is preferred, but the authors show there is some flexibility in the deployment of fusion if this is not possible

Stranded cost recovery in electricity market reforms in the US

International Nuclear Information System (INIS)

Woo, C.K.; Lloyd, D.; Karimov, R.; Tishler, A.

2003-01-01

An important element of an electricity market reform is stranded cost recovery. This paper explains the cause of stranded costs, describes four recovery mechanisms, evaluates these mechanisms using the criteria of recovery certainty, economic efficiency and equity, reviews the financial performance of 12 utilities in the US in connection to stranded cost recovery, and shows why the mechanism used in California has contributed to the reform failure in that state. (Author)

Optimal Charging of Electric Vehicles with Trading on the Intraday Electricity Market

Directory of Open Access Journals (Sweden)

Ilham Naharudinsyah

2018-06-01

Full Text Available Trading on the energy market is a possible way to reduce the electricity costs of charging electric vehicles at public charging stations. In many European countries, it is possible to trade electricity until shortly before the period of delivery on so called intraday electricity markets. In the present work, the potential for reducing the electricity costs by trading on the intraday market is investigated using the example of the German market. Based on simulations, the authors reveal that by optimizing the charging schedule together with the trading on the intraday electricity market, the costs can be reduced by around 8% compared to purchasing all the required energy from the energy supplier. By allowing the charging station operator to resell the energy to the intraday electricity market, an additional cost reduction of around 1% can be achieved. Besides the potential cost savings, the impacts of the trading unit and of the lead time of the intraday electricity market on the costs are investigated. The authors reveal that the achievable electricity costs can be strongly affected by the lead time, while the trading unit has only a minor effect on the costs.

Fair Division of Costs in Green Energy Markets

DEFF Research Database (Denmark)

Hougaard, Jens Leth; Kronborg, Dorte; Smilgins, Aleksandrs

2017-01-01

This paper considers cost allocation in networks where agents are characterized by stochastic demand and supply of a non-storable good, e.g. green energy. The grid itself creates possibilities of exchanging energy between agents and we propose to allocate common costs in proportion to the economi...... gain of being part of the grid. Our model includes a set of fundamental requirements for the associated trading platform. In particular, it is argued that a suitable mechanism deviates from a traditional market. The approach is illustrated by simulations....

Dis-harmony in European natural gas market(s). Discussion of standards and definitions

Energy Technology Data Exchange (ETDEWEB)

Karasz, Michael [The Energy House GmbH, Muenchen (Germany); Pustisek, Andrej [Hochschule fuer Technik, Stuttgart (Germany); Drasdo, Peter

2013-06-15

The European Union attempts to harmonise the European natural gas market(s). In general, this is supported on national levels. Nevertheless, such harmonisation is not yet fully accomplished: neither for the rules nor for the quality specifications nor for the physical quantities and their units. Even if the current economic impact of such dis-harmony is negligible, i.e. that market participants for the time being do not have to bear additional costs caused by the lack of harmonisation, participants in the commodity market are exposed to contractual risks. Potentially, this might lead to reduced competition and reduced liquidity of each single and the European internal market for natural gas. However, as the costs for a potential harmonisation of European gas markets are estimated to be significant, the dilemma is evident and the 'political' solution of the 'harmonisation problem' will necessarily deviate from the traders' one. (orig.)

Low-cost options for reducing consumer health risks from farm to fork where crops are irrigated with polluted water in West Africa

DEFF Research Database (Denmark)

Amoah, Philip; Keraita, Bernard; Akple, Maxwell

To identify interventions which reduce health risks of consumers where highly polluted irrigation water is used to irrigate vegetables in West Africa, scientists worked over 5 years with farmers, market traders and street food vendors in Ghana. The most promising low-cost interventions with high......) guidelines. The tested market-based interventions were important to prevent new or additional contamination...

The international pharmaceutical market as a source of low-cost prescription drugs for U.S. patients.

Science.gov (United States)

Kesselheim, Aaron S; Choudhry, Niteesh K

2008-04-15

In response to increasing prescription drug costs, more U.S. patients and policymakers are importing less-expensive pharmaceutical products from other countries. Large-scale prescription drug importation is currently illegal, but the U.S. Food and Drug Administration permits individuals to bring in 90-day supplies of drugs for personal use. As patient use of foreign-bought drugs has increased, federal legislators have continued to debate the full legalization of importation. Three factors help guide whether U.S. patients and policymakers can rely on other countries as sources of imported prescription drugs: whether the safety of the product can be ensured, how the import price compares with domestic prices, and how importation might affect the exporting country's pharmaceutical market. In wealthier countries with active regulatory systems, drug safety can be adequately ensured, and brand-name products are usually less expensive than in the United States (although generic drugs may be more expensive). However, implementing large-scale importation can negatively impact the originating country's market and can diminish the long-term cost savings for U.S. consumers. In low- and middle-income countries, prices may be reduced for both brand-name and generic drugs, but the prevalence of unauthorized products on the market makes ensuring drug safety more difficult. It may be reasonable for individual U.S. consumers to purchase essential medicines from certain international markets, but the most effective way to decrease drug costs overall is the appropriate use of domestic generic drugs, which are available for almost every major therapeutic class.

Liberalising energy markets: Cost management using measurement data

International Nuclear Information System (INIS)

Girsberger, H.

2000-01-01

This article looks at the various factors involved in assuring good cost management and customer relations in the liberalised energy market such as price levels, additional services and added value for the customer. The additional information required by the utilities to be able to implement such customer-oriented strategies is considered and ways of collecting and processing the data on energy consumption, customer profiles and trends are described. The further analysis of the data and the compilation of reports for management, marketing, engineering and quality assurance departments are discussed, as are the information technology and equipment interfaces required to do this

Impact of marketing, information system, modularity, and low-cost solution on the implementation of CIM in SMEs

Science.gov (United States)

Marri, Hussain B.; McGaughey, Ronald; Gunasekaran, Angappa

2000-10-01

Globalization can have a dramatic impact on manufacturing sector due to the fact that the majority of establishments in this industry are small to medium manufacturing companies. The role of Small and Medium Enterprises (SMEs) in the national economy has been emphasized all over the world, considering their contribution to the total manufacturing output and employment opportunities. The lack of marketing forces to regulate the operation of SMEs has been a fundamental cause of low efficiency for a long time. Computer Integrated Manufacturing (CIM) is emerging as one of the most promising opportunities for shrinking the time delays in information transfer and reducing manufacturing costs. CIM is the architecture for integrating the engineering, marketing and manufacturing functions through information system technologies. SMEs in general have not made full use of new technologies although their investments in CIM technology tended to be wider in scale and scope. Most of the SMEs only focus on the short-term benefit, but overlook a long- term and fundamental development on applications of new technologies. With the help of suitable information systems, modularity and low cost solutions, SMEs can compete in the global market. Considering the importance of marketing, information system, modularity and low cost solutions in the implementation of CIM in SMEs, a model has been developed and studied with the help of an empirical study conducted with British SMEs to facilitate the adoption of CIM. Finally, a summary of findings and recommendations are presented.

Using the market at a cost: How the introduction of green certificates in Sweden led to market inefficiencies

International Nuclear Information System (INIS)

Nilsson, Mats; Sundqvist, Thomas

2007-01-01

The paper examines the transactions costs in the Swedish electricity retail market arising as a result of the implementation of a green certificate system. Since transaction costs cannot be measured directly, we analyze the margin between what the retailers pay for the certificates and what they charge the end-users for the certificate service. Our results highlight some costs of implementing new policy and the necessity of a careful regulatory design. We propose that the price transparency should be strengthened by, for example, shifting the quota obligation to the retailers and/or by including the pricing of the certificate-service in the end-user price of electricity. Furthermore, we restate the obvious fact that the number of policy instruments implemented in a particular market matters insofar that each and every policy will create transaction costs. (author)

Large-scale offshore wind energy. Cost analysis and integration in the Dutch electricity market

International Nuclear Information System (INIS)

De Noord, M.

1999-02-01

the total construction time is reduced to 7 years. Different financing options are regarded: a required internal rate of return of 10% or even 5% reduces the kWh cost price with 27% up to 50%. The effect of including the lifetimes of components in the price calculations is analysed, as well as the effect of considering the electrical grid as part of the public grid. With a maximum public effort the kWh cost price could be reduced to 8 ct. Integration of large-scale offshore wind energy in the distribution system can cause several technical and economic effects. These effects are caused by the variable wind supply, and can vary from insufficient grid connection capacity to the potential danger of a black out in the distribution system and large price fluctuations on the electricity market. To solve these problems, the application of backup power is introduced. Three types are regarded: an old coal plant, a new STEG plant, and hydroelectric power from Norway. Calculations show a moderate effect on the wind energy price due to backup power: this price increases with 6% up to 13%. In the backup power calculations an assumed market price is used, which makes it possible to predict a provisional value of an OWE green certificate. Finally, a comparison is made between the effect of possible technology improvements, public incentive effects and the effect of using backup power. This results in the conclusion that the feasibility of large-scale offshore wind energy depends more on public policy than on technology. 22 refs

Simulating water markets with transaction costs

Science.gov (United States)

Erfani, Tohid; Binions, Olga; Harou, Julien J.

2014-06-01

This paper presents an optimization model to simulate short-term pair-wise spot-market trading of surface water abstraction licenses (water rights). The approach uses a node-arc multicommodity formulation that tracks individual supplier-receiver transactions in a water resource network. This enables accounting for transaction costs between individual buyer-seller pairs and abstractor-specific rules and behaviors using constraints. Trades are driven by economic demand curves that represent each abstractor's time-varying water demand. The purpose of the proposed model is to assess potential hydrologic and economic outcomes of water markets and aid policy makers in designing water market regulations. The model is applied to the Great Ouse River basin in Eastern England. The model assesses the potential weekly water trades and abstractions that could occur in a normal and a dry year. Four sectors (public water supply, energy, agriculture, and industrial) are included in the 94 active licensed water diversions. Each license's unique environmental restrictions are represented and weekly economic water demand curves are estimated. Rules encoded as constraints represent current water management realities and plausible stakeholder-informed water market behaviors. Results show buyers favor sellers who can supply large volumes to minimize transactions. The energy plant cooling and agricultural licenses, often restricted from obtaining water at times when it generates benefits, benefit most from trades. Assumptions and model limitations are discussed. This article was corrected on 13 JUN 2014. See the end of the full text for details.

Reduced cost of ownership

International Nuclear Information System (INIS)

Wyse, W.H.; Newton, J.C.

1995-01-01

There is common drive throughout industry towards reduced costs of ownership of plant and equipment. Rolls-Royce and Associates Ltd. has developed the systems and expertise necessary to achieve these objectives. This Paper outlines the methods being used on existing facilities, and describes a new all embracing process called Planned Lifetime Management. This process, based on the military standard Integrated Logistic Support, ensures that all aspects of support are clearly identified at the design stage and that support is monitored to allow through-life support costs to be optimized. (author)

The cost of fuel economy in the Indian passenger vehicle market

International Nuclear Information System (INIS)

Chugh, Randy; Cropper, Maureen; Narain, Urvashi

2011-01-01

To investigate how fuel economy is valued in the Indian car market, we compute the cost to Indian consumers of purchasing a more fuel-efficient vehicle and compare it to the benefit of lower fuel costs over the life of the vehicle. We estimate hedonic price functions for four market segments (petrol hatchbacks, diesel hatchbacks, petrol sedans, and diesel sedans) to compute 95% confidence intervals for the marginal cost to the consumer for an increase in fuel economy. We find that the associated present value of fuel savings falls within the 95% confidence interval for most specifications, in all market segments, for the years 2002 through 2006. Thus, we fail to consistently reject the hypothesis that consumers appropriately value fuel economy. - Highlights: → We examine the tradeoffs faced by new vehicle consumers in India. → We use hedonic price functions and instrumental variables. → We find no support for the hypothesis that consumers undervalue fuel economy. → Some consumers are willing to forgo substantial potential savings to own their preferred vehicle.

Recruitment in a Monopsonistic Labour Market: Will Travel Costs be reimbursed?

NARCIS (Netherlands)

Rouwendal, Jan; Ommeren, van Jos

2007-01-01

Reimbursement of commuting costs by employers has attracted little attention from economists. We develop a theoretical model of a monopsonistic employer who determines an optimal recruitment policy in a spatial labour market with search frictions and show that partial reimbursement of commuting cost

Final Report - Stationary and Emerging Market Fuel Cell System Cost Assessment

Energy Technology Data Exchange (ETDEWEB)

Contini, Vince [Battelle Memorial Inst., Columbus, OH (United States); Heinrichs, Mike [Battelle Memorial Inst., Columbus, OH (United States); George, Paul [Battelle Memorial Inst., Columbus, OH (United States); Eubanks, Fritz [Battelle Memorial Inst., Columbus, OH (United States); Jansen, Mike [Battelle Memorial Inst., Columbus, OH (United States); Valluri, Manoj [Battelle Memorial Inst., Columbus, OH (United States); Mansouri, Mahan [Battelle Memorial Inst., Columbus, OH (United States); Swickrath, Mike [Battelle Memorial Inst., Columbus, OH (United States)

2017-04-30

The U.S. Department of Energy (DOE) is focused on providing a portfolio of technology solutions to meet energy security challenges of the future. Fuel cells are a part of this portfolio of technology offerings. To help meet these challenges and supplement the understanding of the current research, Battelle has executed a five-year program that evaluated the total system costs and total ownership costs of two technologies: (1) an ~80 °C polymer electrolyte membrane fuel cell (PEMFC) technology and (2) a solid oxide fuel cell (SOFC) technology, operating with hydrogen or reformate for different applications. Previous research conducted by Battelle, and more recently by other research institutes, suggests that fuel cells can offer customers significant fuel and emission savings along with other benefits compared to incumbent alternatives. For this project, Battelle has applied a proven cost assessment approach to assist the DOE Fuel Cell Technologies Program in making decisions regarding research and development, scale-up, and deployment of fuel cell technology. The cost studies and subsequent reports provide accurate projections of current system costs and the cost impact of state-of-the-art technologies in manufacturing, increases in production volume, and changes to system design on system cost and life cycle cost for several near-term and emerging fuel cell markets. The studies also provide information on types of manufacturing processes that must be developed to commercialize fuel cells and also provide insights into the optimization needed for use of off-the-shelf components in fuel cell systems. Battelle’s analysis is intended to help DOE prioritize investments in research and development of components to reduce the costs of fuel cell systems while considering systems optimization.

Allocation of Transaction Cost to Market Participants Using an Analytical Method in Deregulated Market

Science.gov (United States)

Jeyasankari, S.; Jeslin Drusila Nesamalar, J.; Charles Raja, S.; Venkatesh, P.

2014-04-01

Transmission cost allocation is one of the major challenges in transmission open access faced by the electric power sector. The purpose of this work is to provide an analytical method for allocating transmission transaction cost in deregulated market. This research work provides a usage based transaction cost allocation method based on line-flow impact factor (LIF) which relates the power flow in each line with respect to transacted power for the given transaction. This method provides the impact of line flows without running iterative power flow solution and is well suited for real time applications. The proposed method is compared with the Newton-Raphson (NR) method of cost allocation on sample six bus and practical Indian utility 69 bus systems by considering multilateral transaction.

Structure of Cost of Equity as the Dependence on the Corporate- and Market Life Cycle

Directory of Open Access Journals (Sweden)

Zdeněk Konečný

2013-10-01

Full Text Available Purpose of the article: Companies, like all living creatures, goes through their life cycle, which includes some partial phases. Each of these phases is specific. Depending up the corporate life cycle, there are changed managerial decisions, that have an considerable influence, among others, on financial indicators like liquidity (current ratio, quick ratio, cash ratio, return (on investment, assets, equity, sales, economic value added, or cost of capital. The purpose of this article is to show relations between corporate life cycle and the structure of cost of equity. Furthermore, there will be, besides the corporate life cycle, considered also the market life cycle and market positions, that can companies hold on the market, on which they are acting. Methodology/methods: There is used a method, based on the analysis of secondary data, gotten from financial statements of selected companies and from statistical and analytical documents, published by Czech Ministry of Industry and Trade. There are selected 39 companies, acting on the czech market with motor vehicles production. The data are gathered for periods from 2002 up to 2010. There is used a model by Reiners (2004 to identify phases of corporate- and market life cycle and market positions. For finding out the structure of cost of equity there is used the constructional model by Czech Ministry of Industry and Trade. Scientific aim: The selected companies are divided into groups with considering different phases of their life cycle and with considering their different market positions. There are for each period found out numbers of companies from these groups, that reached the minimal value, the value within the interval and maximal value of all risk rewards, that are, besides the riskless rate, components of cost of equity. Findings: The greatest part of cost of equity, reached on the market, is the riskless rate. Other components (and their shares on the cost of equity

Costs And Returns Analysis Of Palm Wine Marketing In Uyo Area Of ...

African Journals Online (AJOL)

Costs And Returns Analysis Of Palm Wine Marketing In Uyo Area Of Akwa Ibom State, Nigeria. ... Abstract. This study examined the marketing of palm wine (Ukot) in Akwa Ibom State, Nigeria. The socio ... EMAIL FULL TEXT EMAIL FULL TEXT

Switching benefits and costs in the Irish health insurance market: an analysis of consumer surveys

OpenAIRE

KEEGAN, CONOR; Teljeur, Conor; Turner, Brian; THomas, Steve

2018-01-01

PUBLISHED Relatively little analysis has taken place internationally on the consumer-reported benefits and costs to switching insurer in multi-payer health insurance markets. Ideally, consumers should be willing to switch out of consideration for price and quality and switching should be able to take place without incurring significant switching costs. Costs to switching come in many forms and understanding the nature of these costs is necessary if policy interventions to improve market co...

Social Welfare and the Market Economy.

Science.gov (United States)

Nelson, Joel I.

1992-01-01

Reports on a study that questions whether private enterprise can maintain quality while reducing costs of providing social welfare services. Reviews three aspects of privatization: (1) competitive markets; (2) rationality; and (3) cost reduction. Concludes by questioning a central claim of economic theory: that free markets and private firms are…

Thesis: the ''evolutions of the long term European gas market - organisation and costs''

International Nuclear Information System (INIS)

Ouvry, V.

1998-01-01

This paper presents the main conclusions of the thesis defended by the author on January 30, 1998: recalls of some characteristics of the European gas market, the stakes of the gas market liberation, the regulatory aspects, the tariffs problem, the competition in the gas marketing segment, and different possible modeling of the gas market evolution (contracts, costs, competition). (J.S.)

Optimal Mandates and The Welfare Cost of Asymmetric Information: Evidence from The U.K. Annuity Market.

Science.gov (United States)

Einav, Liran; Finkelstein, Amy; Schrimpf, Paul

2010-05-01

Much of the extensive empirical literature on insurance markets has focused on whether adverse selection can be detected. Once detected, however, there has been little attempt to quantify its welfare cost, or to assess whether and what potential government interventions may reduce these costs. To do so, we develop a model of annuity contract choice and estimate it using data from the U.K. annuity market. The model allows for private information about mortality risk as well as heterogeneity in preferences over different contract options. We focus on the choice of length of guarantee among individuals who are required to buy annuities. The results suggest that asymmetric information along the guarantee margin reduces welfare relative to a first best symmetric information benchmark by about £127 million per year, or about 2 percent of annuitized wealth. We also find that by requiring that individuals choose the longest guarantee period allowed, mandates could achieve the first-best allocation. However, we estimate that other mandated guarantee lengths would have detrimental effects on welfare. Since determining the optimal mandate is empirically difficult, our findings suggest that achieving welfare gains through mandatory social insurance may be harder in practice than simple theory may suggest.

Optimal Mandates and The Welfare Cost of Asymmetric Information: Evidence from The U.K. Annuity Market*

Science.gov (United States)

Einav, Liran; Finkelstein, Amy; Schrimpf, Paul

2009-01-01

Much of the extensive empirical literature on insurance markets has focused on whether adverse selection can be detected. Once detected, however, there has been little attempt to quantify its welfare cost, or to assess whether and what potential government interventions may reduce these costs. To do so, we develop a model of annuity contract choice and estimate it using data from the U.K. annuity market. The model allows for private information about mortality risk as well as heterogeneity in preferences over different contract options. We focus on the choice of length of guarantee among individuals who are required to buy annuities. The results suggest that asymmetric information along the guarantee margin reduces welfare relative to a first best symmetric information benchmark by about £127 million per year, or about 2 percent of annuitized wealth. We also find that by requiring that individuals choose the longest guarantee period allowed, mandates could achieve the first-best allocation. However, we estimate that other mandated guarantee lengths would have detrimental effects on welfare. Since determining the optimal mandate is empirically difficult, our findings suggest that achieving welfare gains through mandatory social insurance may be harder in practice than simple theory may suggest. PMID:20592943

The costs of climate policies in a second best world with labour market imperfections

International Nuclear Information System (INIS)

Guivarch, C.; Crassous, R.; Sassi, O.; Hallegatte, St.

2009-09-01

This article explores the critical role of labour market imperfections in climate stabilisation costs formation. To do so, we use a dynamic recursive energy-economy model that represents a second best world with market imperfections and short-run adjustments constraints along a long-term growth path. We show that the degree of rigidity of the labour markets is a central parameter and we conduct a systematic sensitivity analysis of the model results to this parameter. When labour markets are represented as highly flexible, the model results are in the usual range of existing literature, i.e. less than 2% GDP losses in 2030 for a stabilisation target at 450 ppm CO 2 equivalent, But when labour markets rigidities are accounted for, mitigation costs increase dramatically. In a second time, the article identifies accompanying measures, namely labour subsidies, which guarantees against the risk of large stabilisation costs in the case of high rigidities of the labour markets. That vision complements the usual view that mitigation is a long-term matter that depends on technology, innovation, investment and behavioural change. Here we add the warning that mitigation is also a shorter-term issue and a matter of transition on the labour market. (authors)

A study of the cost-effective markets for new technology agricultural aircraft

Science.gov (United States)

Hazelrigg, G. A., Jr.; Clyne, F.

1979-01-01

A previously developed data base was used to estimate the regional and total U.S. cost-effective markets for a new technology agricultural aircraft as incorporating features which could result from NASA-sponsored aerial applications research. The results show that the long-term market penetration of a new technology aircraft would be near 3,000 aircraft. This market penetration would be attained in approximately 20 years. Annual sales would be about 200 aircraft after 5 to 6 years of introduction. The net present value of cost savings benefit which this aircraft would yield (measured on an infinite horizon basis) would be about $35 million counted at a 10 percent discount rate and $120 million at a 5 percent discount rate. At both discount rates the present value of cost savings exceeds the present value of research and development (R&D) costs estimated for the development of the technology base needed for the proposed aircraft. These results are quite conservative as they have been derived neglecting future growth in the agricultural aviation industry, which has been averaging about 12 percent per year over the past several years.

Analysis of Fuel Cell Markets in Japan and the US: Experience Curve Development and Cost Reduction Disaggregation

Energy Technology Data Exchange (ETDEWEB)

Wei, Max [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Smith, Sarah J. [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Sohn, Michael D. [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

2016-07-15

Fuel cells are both a longstanding and emerging technology for stationary and transportation applications, and their future use will likely be critical for the deep decarbonization of global energy systems. As we look into future applications, a key challenge for policy-makers and technology market forecasters who seek to track and/or accelerate their market adoption is the ability to forecast market costs of the fuel cells as technology innovations are incorporated into market products. Specifically, there is a need to estimate technology learning rates, which are rates of cost reduction versus production volume. Unfortunately, no literature exists for forecasting future learning rates for fuel cells. In this paper, we look retrospectively to estimate learning rates for two fuel cell deployment programs: (1) the micro-combined heat and power (CHP) program in Japan, and (2) the Self-Generation Incentive Program (SGIP) in California. These two examples have a relatively broad set of historical market data and thus provide an informative and international comparison of distinct fuel cell technologies and government deployment programs. We develop a generalized procedure for disaggregating experience-curve cost-reductions in order to disaggregate the Japanese fuel cell micro-CHP market into its constituent components, and we derive and present a range of learning rates that may explain observed market trends. Finally, we explore the differences in the technology development ecosystem and market conditions that may have contributed to the observed differences in cost reduction and draw policy observations for the market adoption of future fuel cell technologies. The scientific and policy contributions of this paper are the first comparative experience curve analysis of past fuel cell technologies in two distinct markets, and the first quantitative comparison of a detailed cost model of fuel cell systems with actual market data. The resulting approach is applicable to

Labor market productivity costs for caregivers of children with spina bifida: a population-based analysis.

Science.gov (United States)

Tilford, John M; Grosse, Scott D; Goodman, Allen C; Li, Kemeng

2009-01-01

Caregiver productivity costs are an important component of the overall cost of care for individuals with birth defects and developmental disabilities, yet few studies provide estimates for use in economic evaluations. This study estimates labor market productivity costs for caregivers of children and adolescents with spina bifida. Case families were recruited from a state birth defects registry in Arkansas. Primary caregivers of children with spina bifida (N = 98) reported their employment status in the past year and demographic characteristics. Controls were abstracted from the Current Population Survey covering the state of Arkansas for the same time period (N = 416). Estimates from regression analyses of labor market outcomes were used to calculate differences in hours worked per week and lifetime costs. Caregivers of children with spina bifida worked an annual average of 7.5 to 11.3 hours less per week depending on the disability severity. Differences in work hours by caregivers of children with spina bifida translated into lifetime costs of $133,755 in 2002 dollars using a 3% discount rate and an age- and sex-adjusted earnings profile. Including caregivers' labor market productivity costs in prevention effectiveness estimates raises the net cost savings per averted case of spina bifida by 48% over the medical care costs alone. Information on labor market productivity costs for caregivers can be used to better inform economic evaluations of prevention and treatment strategies for spina bifida. Cost-effectiveness calculations that omit caregiver productivity costs substantially overstate the net costs of the intervention and underestimate societal value.

An equivalent marginal cost-pricing model for the district heating market

International Nuclear Information System (INIS)

Zhang, Junli; Ge, Bin; Xu, Hongsheng

2013-01-01

District heating pricing is a core element in reforming the heating market. Existing district heating pricing methods, such as the cost-plus pricing method and the conventional marginal-cost pricing method, cannot simultaneously provide both high efficiency and sufficient investment cost return. To solve this problem, the paper presents a new pricing model, namely Equivalent Marginal Cost Pricing (EMCP) model, which is based on the EVE pricing theory and the unique characteristics of heat products and district heating. The EMCP model uses exergy as the measurement of heating product value and places products from different district heating regions into the same competition platform. In the proposed model, the return on investment cost is closely related to the quoted cost, and within the limitations of the Heating Capacity Cost Reference and the maximum compensated shadow capacity cost, both lower and higher price speculations of heat producers are restricted. Simulation results show that the model can guide heat producers to bid according to their production costs and to provide reasonable returns on investment, which contributes to stimulate the role of price leverage and to promote the optimal allocation of heat resources. - Highlights: • Presents a new district heating pricing model. • Provides both high market efficiency and sufficient investment cost return. • Provides a competition mechanism for various products from different DH regions. • Both of lower and higher price speculations are restricted in the new model

Reducing operational costs through MIPS management

NARCIS (Netherlands)

Kwiatkowski, L.M.; Verhoef, C.

2015-01-01

We focus on an approach to reducing the costs of running applications. MIPS, which is a traditional acronym for millions of instructions per second, have evolved to become a measurement of processing power and CPU resource consumption. The need for controlling MIPS attributed costs is indispensable

Japanese manufacturers' cost-performance marketing strategy for the delivery of solar photovoltaic homes

International Nuclear Information System (INIS)

Noguchi, M.

2005-02-01

Japanese manufacturers have been gaining a global reputation for their design approaches to industrialized housing, which is often equipped with PV systems. Homes are produced on a cost performance marketing strategy. In 2004, 13.7 per cent of the 1,160,083 houses built in Japan were pre-fabricated. The pre-fabricated housing industry has been given considerable government support. In response to growing demands for sustainable housing, the government has implemented promotional programs aiming to support the installations of photovoltaic systems. Details of various programs were presented, including: value-added production; housing sustainability; PV rooftop systems; and a mass custom design approach. It was concluded that the cost performance marketing strategy has a significant impact on production and design approaches. However, quality-oriented production may also result in successful commercialization of innovative housing. The Japanese marketing approach allows consumers to understand the added value of packaged innovations rather than the cost. It was suggested that this marketing strategy should be examined further, when considering approaches to innovative housing in other countries. 38 refs., 3 figs

Forecasting market impact costs and identifying expensive trades

NARCIS (Netherlands)

Bikker, Jacob A.; Spierdijk, L.; Hoevenaars, Roy P.M.M.; van der Sluis, Pieter Jelle

Often, a relatively small group of trades causes the major part of the trading costs on an investment portfolio. Consequently, reducing the trading costs of comparatively few expensive trades would already result in substantial savings on total trading costs. Since trading costs depend to some

To market, to market

International Nuclear Information System (INIS)

Lieberman, J.I.

1992-01-01

Senator Lieberman and three fellow members of Congress introduced the CO 2 Offset Policy Efficiency Act (COPE), which incorporates the use of marketable permits to reduce CO 2 emissions. For COPE to be fully effective, however, several key criteria must be met: (1) establishing initial baselines will be critical to ensure that emission reductions are credited properly; (2) accurate plant-by-plant monitoring must be in place to ensure that claimed reductions have actually occurred; (3) the program must include a strong enforcement provision to prevent evasion and to punish violators with substantial automatic fines. COPE imposes a sanction equal to roughly four times the estimated cost of offsets; the sanctions would be paid before enforcement proceedings commence. The urgency and complexity of global warming requires us to break with the past and develop new ways of delaying with pollution, Senator Lieberman feels by giving the market a chance to work on behalf of the environment, the sale of emission allowance will reduce CO 2 emissions in the most-efficient cost-effective way possible

Theory and Evidence of Switching Costs in the Market for College Textbooks

Science.gov (United States)

McMahan, Chris

2013-01-01

This dissertation develops and estimates a model of switching costs in the market for college textbooks. First, in a theoretical setting, this paper characterizes the professor's adoption decision, which includes a trade-off between time and course quality. The professor faces a time cost when he switches textbooks. This switching cost leads…

Damage reduces shelf-life of sweetpotato during marketing | Mtunda ...

African Journals Online (AJOL)

Damage reduces shelf-life of sweetpotato during marketing. ... K. Mtunda, D. Chilosa, E. Rwiza, M. Kilima, H. Kiozya, R. Munisi, R. Kapinga, D. Rees. Abstract. Although sweetpotato is primarily grown for home consumption, marketing is becoming increasingly important, and in this case, short shelf-life of the roots is a major ...

The impact of unit cost reductions on gross profit: Increasing or decreasing returns?

Directory of Open Access Journals (Sweden)

Ely Dahan

2011-09-01

Full Text Available We suggest that marketers actively participate in reducing unit costs during new product development, consistent with the theme of integrated marketing and manufacturing. Most marketing managers misjudge the impact on gross profit of reducing variable unit manufacturing costs, mistakenly believing that such cost reductions yield decreasing or linear returns while they actually generate increasing returns.

Prices and costs of irregularity in renewable resources in the liberalized electricity markets

International Nuclear Information System (INIS)

Menanteau, Ph.; Finon, D.

2004-01-01

The problems raised by incorporating irregular production are of a technical nature (risk of non-availability during peak demand, the requirements for additional reserves) but the electricity markets methods of operation impose economic penalties, which greatly exceed these additional technical costs. In this document, the authors examine the nature of the technical problems posed by irregularity of production and the additional costs resulting from this, and then analyse the origins of the economic penalties that the operation of liberalized electricity markets impose, taking in particular the example of the British market, the New Energy Trading Arrangement (NETA). It would appear that the markets' operating rules may conflict, in certain cases, with the targets for promoting electricity generation from renewable resources. Two types of solutions can therefore be envisaged: a set of rules to limit the impact on irregular production or collective handling of the adjustment to production from renewable resources as already exists in the Nordic electricity markets. (authors)

PRAGMATICS OF USING A MODIFIED CAPM MODEL FOR ESTIMATING COST OF EQUITY ON EMERGING MARKETS

Directory of Open Access Journals (Sweden)

Vitaliy Semenyuk

2016-11-01

Full Text Available The aim of the work is to forming pragmatic recommendations for the development and implementation the modified CAPM model in the process of estimating the equity value on emerging markets. Original CAPM model allows estimating the cost of equity on the developed capital markets. At the same time it requires the information received on the market data basis. But, as show recent empirical research, the classical model does not always produce acceptable results of the equity estimation. In addition, CAPM model in its classical form can’t be used to estimate the cost of equity for countries with emerging markets. This is due with lower efficiency in emerging markets, with lower level of liquidity and capitalization, which makes the information obtained from these markets not entirely reliable. Therefore in practice are increasingly using different modification CAPM models, that allow consider for more specific factors which affect the cost of equity. These factors, which are not considered in the classical CAPM model, include the size of the corporation and country risk. The first factor is actual for developed and emerging markets and needed to account during the equity estimation and modification the CAPM model. Country risk is associated with differences and peculiarities of the economies different countries and in the first place should be taken into account when estimating the cost of equity in emerging capital markets, which are considered by investors as more risky for investment. This factor should also be taken into account in estimating the cost of equity. Methodology In the process of constructing a modified CAPM model, theoretical and methodological provisions were used, which are set out in the work R. Banz, G. Bekaert, M. Goedhart, R. Grabowski, R. Grinold, D. Vessels, A. Damodaran, M. Dempsey, J. Zhang, R. Ibbotson, P. Kaplan, T. Koller, K. Kroner, L. Kruschwitz, M. Long, A. Lofler, G. Mandl, M. Miller, F. Modilyani, K. Nunes, D

CO{sub 2} mitigation costs of large-scale bioenergy technologies in competitive electricity markets

Energy Technology Data Exchange (ETDEWEB)

Gustavsson, L [Mid-Sweden University, Ostersund (Sweden). Dept. of Natural and Environmental Sciences, Ecotechnology; Madlener, R [Swiss Federal Institute of Technology, Zurich (Switzerland). CEPE

2003-11-01

In this study, we compare and contrast the impact of recent technological developments in large biomass-fired and natural-gas-fired cogeneration and condensing plants in terms of CO{sub 2} mitigation costs and under the conditions of a competitive electricity market. The CO{sub 2} mitigation cost indicates the minimum economic incentive required (e.g. in the form of a carbon tax) to equal the cost of a less carbon extensive system with the cost of a reference system. The results show that CO{sub 2} mitigation costs are lower for biomass systems than for natural gas systems with decarbonization. However, in liberalized energy markets and given the sociopolitical will to implement carbon extensive energy systems, market-based policy measures are still required to make biomass and decarbonization options competitive and thus help them to penetrate the market. This cost of cogeneration plants, however, depends on the evaluation method used. If we account for the limitation of heat sinks by expanding the reference entity to include both heat and power, as is typically recommended in life-cycle analysis, then the biomass-based gasification combined cycle (BIG/CC) technology turns out to be less expensive and to exhibit lower CO{sub 2} mitigation costs than biomass-fired steam turbine plants. However, a heat credit granted to cogeneration systems that is based on avoided cost of separate heat production, puts the steam turbine technology despite its lower system efficiency at an advantage. In contrast, when a crediting method based on avoided electricity production in natural gas fired condensing plants is employed, the BIG/CC technology turns out to be more cost competitive than the steam turbine technology for carbon tax levels beyond about $150/t C. Furthermore, steam turbine plants are able to compete with natural gas fired cogeneration plants at carbon tax levels higher than about $90/tC. (author)

Comparative cost analysis of insecticide-treated net delivery strategies: sales supported by social marketing and free distribution through antenatal care.

Science.gov (United States)

De Allegri, Manuela; Marschall, Paul; Flessa, Steffen; Tiendrebéogo, Justin; Kouyaté, Bocar; Jahn, Albrecht; Müller, Olaf

2010-01-01

Insecticide-treated nets (ITNs) are effective in substantially reducing malaria transmission. Still, ITN coverage in sub-Saharan Africa (SSA) remains extremely low. Policy makers are concerned with identifying the most suitable delivery mechanism to achieve rapid yet sustainable increases in ITN coverage. Little is known, however, on the comparative costs of alternative ITN distribution strategies. This paper aimed to fill this gap in knowledge by developing such a comparative cost analysis, looking at the cost per ITN distributed for two alternative interventions: subsidized sales supported by social marketing and free distribution to pregnant women through antenatal care (ANC). The study was conducted in rural Burkina Faso, where the two interventions were carried out alongside one another in 2006/07. Cost information was collected prospectively to derive both a financial analysis adopting a provider's perspective and an economic analysis adopting a societal perspective. The average financial cost per ITN distributed was US$8.08 and US$7.21 for sales supported by social marketing and free distribution through ANC, respectively. The average economic cost per ITN distributed was US$4.81 for both interventions. Contrary to common belief, costs did not differ substantially between the two interventions. Due to the district's ability to rely fully on the use of existing resources, financial costs associated with free ITN distribution through ANC were in fact even lower than those associated with the social marketing campaign. This represents an encouraging finding for SSA governments and points to the possibility to invest in programmes to favour free ITN distribution through existing health facilities. Given restricted budgets, however, free distribution programmes are unlikely to be feasible.

COST MEASUREMENT AND COST MANAGEMENT IN TARGET COSTING

Directory of Open Access Journals (Sweden)

Moisello Anna Maria

2012-07-01

Full Text Available Firms are coping with a competitive scenario characterized by quick changes produced by internationalization, concentration, restructuring, technological innovation processes and financial market crisis. On the one hand market enlargement have increased the number and the segmentation of customers and have raised the number of competitors, on the other hand technological innovation has reduced product life cycle. So firms have to adjust their management models to this scenario, pursuing customer satisfaction and respecting cost constraints. In a context where price is a variable fixed by the market, firms have to switch from the cost measurement logic to the cost management one, adopting target costing methodology. The target costing process is a price driven, customer oriented profit planning and cost management system. It works, in a cross functional way, from the design stage throughout all the product life cycle and it involves the entire value chain. The process implementation needs a costing methodology consistent with the cost management logic. The aim of the paper is to focus on Activity Based Costing (ABC application to target costing process. So: -it analyzes target costing logic and phases, basing on a literary review, in order to highlight the costing needs related to this process; -it shows, through a numerical example, how to structure a flexible ABC model – characterized by the separation between variable, fixed in the short and fixed costs - that effectively supports target costing process in the cost measurement phase (drifting cost determination and in the target cost alignment; -it points out the effectiveness of the Activity Based Costing as a model of cost measurement applicable to the supplier choice and as a support for supply cost management which have an important role in target costing process. The activity based information allows a firm to optimize the supplier choice by following the method of minimizing the

Design meeting on reduced technical objectives/reduced cost ITER options

International Nuclear Information System (INIS)

Spears, W.

1999-01-01

At this meeting, which took place at Garching, Germany in January 1999, means of reducing the overall cost for ITER to 50% where discussed. It was felt that a smaller plasma of high elongation and high triangularity was a step in the right direction. Further steps would include cheaper magnetic field coils, cheaper in-vessel components and also costly buildings

Marketing Transformation (Fact Sheet)

Energy Technology Data Exchange (ETDEWEB)

DOE Solar Energy Technologies Program

2011-10-13

Through the SunShot Initiative, the U.S. Department of Energy (DOE) works with manufacturers, communities, states, utilities, and other partners to enable the solar market by reducing non-hardware balance-of-system (BOS) costs, developing a skilled workforce, and eliminating market barriers to widespread adoption of solar technologies.

Analysis of the Photovoltaic Market 2001. Cost of PV Components and Systems; Analisis del Mercado Fotovoltaico 2001. Coste de Componentes y Sistemas Fotovoltaicos

Energy Technology Data Exchange (ETDEWEB)

Balenzategui Manzanares, J. L.

2002-07-01

This document tries to study the development and evolution of the photovoltaic market at a national land international scale, and to analyse its current status at the end of 2001. The paper broaches the study from different points of view. At the first step, the actual great expansion of the global market is analysed by means of the data for international sales and shipments of photovoltaic modules which are completed with figures of the main countries and manufacturing companies involved in the market, the end-use applications, the installed power per country, the technologies used and the evolution of the cost of the modules. By using the same kind of parameters, the particular conditions of the Spanish market is then analysed, and the current national norms and plans for promotion and their short-term perspectives are reviewed and discussed. As a complementary/aspect , a simple cost analysis of the main components of a photovoltaic system in the Spanish market is carried out, together with the costs of complete installations. The average values for components and systems are obtained and are compared with those from preceding years. These data allow evaluating in practice how the global situations is reflected in the final cost of the photovoltaic devices for consumers. (Author) 56 refs.

Implementing the Fundamental Principle of Islamic Finance PLS in Order to Reduce Moral Hazard on the Financial Services Market

OpenAIRE

Dariusz Piotrowski

2014-01-01

Moral hazard is a situation where agent takes a risky actions, knowing that potential costs will be born by principal. In finance, moral hazard arises when advisers take risky decisions come to believe that they will not have to carry the full burden of potential loses. Implementing the fundamental principle of Islamic finance PLS could reduce moral hazard on financial services market.

Combined analyses of costs, market value and eco-costs in circular business models : eco-efficient value creation in remanufacturing

NARCIS (Netherlands)

Vogtländer, J.G.; Scheepens, A.E.; Bocken, N.M.P.; Peck, D.P.

2017-01-01

Eco-efficient Value Creation is a method to analyse innovative product and service design together with circular business strategies. The method is based on combined analyses of the costs, market value (perceived customer value) and eco-costs. This provides a prevention-based single indicator for

Japanese manufacturers' cost-performance marketing strategy for the delivery of solar photovoltaic homes

Energy Technology Data Exchange (ETDEWEB)

Noguchi, M.

2005-02-01

Japanese manufacturers have been gaining a global reputation for their design approaches to industrialized housing, which is often equipped with PV systems. Homes are produced on a cost performance marketing strategy. In 2004, 13.7 per cent of the 1,160,083 houses built in Japan were pre-fabricated. The pre-fabricated housing industry has been given considerable government support. In response to growing demands for sustainable housing, the government has implemented promotional programs aiming to support the installations of photovoltaic systems. Details of various programs were presented, including: value-added production; housing sustainability; PV rooftop systems; and a mass custom design approach. It was concluded that the cost performance marketing strategy has a significant impact on production and design approaches. However, quality-oriented production may also result in successful commercialization of innovative housing. The Japanese marketing approach allows consumers to understand the added value of packaged innovations rather than the cost. It was suggested that this marketing strategy should be examined further, when considering approaches to innovative housing in other countries. 38 refs., 3 figs.

Concepts for reducing nuclear utility inventory carrying costs

International Nuclear Information System (INIS)

Graybill, R.E.; DiCola, F.E.; Solanas, C.H.

1985-01-01

Nuclear utilities are under pressure to reduce their operating and maintenance expenses such that the total cost of generating electricity through nuclear power remains an economically attractive option. One area in which expenses may be reduced is total inventory carrying cost. The total inventory carrying cost consists of financing an inventory, managing the inventory, assuring quality, engineering of acceptable parts specifications, and procuring initial and replenishment stock. Concepts and methodology must be developed to reduce the remaining expenses of a utility's total inventory carrying cost. Currently, two concepts exist: pooled inventory management system (PIMS), originally established by General Electric Company and a group of boiling water reactor owners, and Nuclear Parts Associates' (NUPA) shared inventory management program (SIMP). Both concepts share or pool parts and components among utilities. The SIMP program objectives and technical activities are summarized

The impact of Pulpwood Rail Freight Costs on the Minnesota-Wisconsin Pulpwood Market

Science.gov (United States)

David C. Lothner

1976-01-01

Transportation costs affect the marketing and utilization of pulpwood. Their impact on the procurement and utilization of pulpwood often prove difficult to measure because deriving an average annual measure of the transportation cost is difficult. This note, by means of a simple index method for measuring regional interstate pulpwood rail freight costs, illustrates...

Analisa Pengaruh Relationship Marketing Dan Switching Cost Terhadap Customer Loyalty Di Hotel “X” Surabaya

OpenAIRE

Yosswanta, Tigrent; Susanto, Michael Triadi; Ervanto, Edwin

2015-01-01

Tujuan penelitian ini adalah untuk mengetahui sejauh mana pengaruh Relationship Marketing dan Switching Cost terhadap Customer Loyalty di Hotel “X” Surabaya. Jenis penelitian yang digunakan adalah kuantitatif kausal yang bertujuan menguji hubungan sebab akibat. Sedangkan teknik pengumpulan data yang digunakan adalah kuesioner. Berdasarkan hasil penelitian yang diperoleh menunjukkan Relationship Marketing berpengaruh positif dan signifikan terhadap Customer Loyalty. Sedangkan, Switching Cost b...

Is scorpion antivenom cost-effective as marketed in the United States?

Science.gov (United States)

Armstrong, Edward P; Bakall, Maja; Skrepnek, Grant H; Boyer, Leslie V

2013-12-15

The purpose of this study was to analyze the cost-effectiveness of scorpion antivenom compared to no antivenom, in the United States, using a decision analysis framework. A decision analytic model was created to assess patient course with and without antivenom. Costs were determined from the perspective of a health care payer. Cost data used in the model were extracted from Arizona Medicaid. The probability of clinical events occurring with and without antivenom was obtained from the published literature, medical claims obtained from Arizona Medicaid, and results of recent clinical trials. Patients that became so ill that mechanical ventilator support was necessary were considered treatment failures. A Monte Carlo simulation was run 1000 times and sampled simultaneously across all variable distributions in the model. The mean success rate was 99.87% (95% CI 99.64%-99.98%) with scorpion antivenom and 94.31% (95% CI 91.10%-96.61%) without scorpion antivenom. The mean cost using scorpion antivenom was $10,708 (95% CI $10,556 - $11,010) and the mean cost without scorpion antivenom was $3178 (95% CI $1627 - $5184). Since the 95% CIs do not overlap for either the success or cost, use of the scorpion antivenom was significantly more effective and significantly more expensive than no antivenom. Cost-effectiveness analysis found that the scorpion antivenom was not cost-effective at its current price as marketed in the United States. The scorpion antivenom marketed in the United States is extremely effective, but too costly to justify its use in most clinical situations. Formulary committees should restrict the use of this antivenom to only the most severe scorpion envenomations. Copyright © 2013 Elsevier Ltd. All rights reserved.

Risk, Incentives and Coordination Costs in Agro-Food Chains in the Presence of Futures Markets

NARCIS (Netherlands)

Kuwornu, J.K.M.

2006-01-01

This thesis focuses on developing conceptual models to examine the role of futures markets for risk-shifting, incentives and coordination costs in the context of commodity marketing channels. The empirical analysis is conducted for different marketing channel structures (two-stage and three-stage

Life-cycle private costs of hybrid electric vehicles in the current Chinese market

International Nuclear Information System (INIS)

Lin, Chengtao; Wu, Tian; Ou, Xunmin; Zhang, Qian; Zhang, Xu; Zhang, Xiliang

2013-01-01

Understanding the life-cycle private cost (LCPC) of the hybrid electric vehicle (HEV) is important for market feasibility analysis. An HEV LCPC model was established to evaluate HEV market prospects in China compared with traditional internal combustion engine vehicles (ICEV). The Kluger HV, a full-hybrid HEV sports utility vehicle (SUV), aimed at the Chinese market, was simulated as the 2010 model's technology details were well publicized. The LCPC of the Kluger HV was roughly the same (about 1.06 times) as that of its comparable ICEV (Highlander SUV). This aligns with other compact and midsize HEV cars (e.g., Toyota Prius, Honda Civic and Toyota Camry HEV) in China. With oil prices predicted to rise in the long-term, the advantage of HEVs energy saving will partly compensate the high manufacturing costs associated with their additional motor/battery components. Besides supporting technology development, enabling policy should be implemented to introduce HEV technology into taxi fleets and business cars. This technology's cost-competitiveness, compared with traditional ICEVs, is advantageous for these higher mileage vehicles. - Highlights: ► A model is set up to evaluate the life-cycle private cost of HEVs. ► Life-cycle private costs of HEVs are higher than conventional cars in China. ► HEVs become competitive when the oil price rises

Lean Manufacturing Implementation: an Approach to Reduce Production Cost

Directory of Open Access Journals (Sweden)

Iraswari

2012-04-01

Full Text Available Abstract: Lean Manufacturing Implementation: An Approach To Reduce Production Cost. Opportunities to improve production processes and reduce production cost through the implementation of lean manufacturing in small medium garment manufacturing are presented in this research. This research shows that there is a possibility of decrease in production cost and increase in return on sales. Lean manufacturing implementation can eliminate waste in the production process. This is a set of techniques for identification and elimination of waste gathered from The Ford Production, Statistical Process Control and other techniques. Improvement of quality could be carried out while time and cost of production are being reduced.

Reducing the cost of administrative justice

International Nuclear Information System (INIS)

Tourtellotte, J.R.

1982-01-01

In virtually every sector of government regulation, the complaint has been lodged that the costs of administrative justice are too high. These costs in time, money, resources, and productivity can have a profound effect on the individual consumer. When applied to an energy technology such as nuclear power, costs of administrative justice can transcent time and money to have even more profound and pervasive soeietal effects. Societal costs can be expressed in terms of their impact on important national concerns, that is, the standard of living, technological superiority, and the national energy equation. Some views are presented on the interests involved in the regulation of nuclear power and what can be done to bring those interests into better balance so as to reduce the cost of administrative justice

Market Barriers to Solar in Michigan

Energy Technology Data Exchange (ETDEWEB)

Miller, E.; Nobler, E.; Wolf, C.; Doris, E.

2012-08-01

The solar industry in the United States is at a turning point; the cost of PV hardware has declined substantially in recent years, placing new attention on reducing the balance of system (BOS) costs of solar that now contribute to a growing percentage of installation expenses. How states address these costs through the creation of a favorable policy and regulatory environment is proving to be a critical determinant of a thriving statewide solar market. This report addresses the permitting and tax issues that may stimulate the solar market growth in Michigan. By making PV installations easier to complete through reduced BOS costs, Michigan would become a more attractive location for manufacturers and installers. As PV module costs decline and BOS costs make up a greater share of the cost of solar, action taken today on these issues will prove beneficial in the long term, providing Michigan an opportunity to establish a leadership position in the solar industry.

Low-cost options for reducing consumer health risks from farm to fork where crops are irrigated with polluted water in West Africa

DEFF Research Database (Denmark)

Amoah, Philip; Keraita, Bernard; Akple, Maxwell

To identify interventions which reduce health risks of consumers where highly polluted irrigation water is used to irrigate vegetables in West Africa, scientists worked over 5 years with farmers, market traders and street food vendors in Ghana. The most promising low-cost interventions with high...

The ITER reduced cost design

International Nuclear Information System (INIS)

Aymar, R.

2000-01-01

Six years of joint work under the international thermonuclear experimental reactor (ITER) EDA agreement yielded a mature design for ITER which met the objectives set for it (ITER final design report (FDR)), together with a corpus of scientific and technological data, large/full scale models or prototypes of key components/systems and progress in understanding which both validated the specific design and are generally applicable to a next step, reactor-oriented tokamak on the road to the development of fusion as an energy source. In response to requests from the parties to explore the scope for addressing ITER's programmatic objective at reduced cost, the study of options for cost reduction has been the main feature of ITER work since summer 1998, using the advances in physics and technology databases, understandings, and tools arising out of the ITER collaboration to date. A joint concept improvement task force drawn from the joint central team and home teams has overseen and co-ordinated studies of the key issues in physics and technology which control the possibility of reducing the overall investment and simultaneously achieving the required objectives. The aim of this task force is to achieve common understandings of these issues and their consequences so as to inform and to influence the best cost-benefit choice, which will attract consensus between the ITER partners. A report to be submitted to the parties by the end of 1999 will present key elements of a specific design of minimum capital investment, with a target cost saving of about 50% the cost of the ITER FDR design, and a restricted number of design variants. Outline conclusions from the work of the task force are presented in terms of physics, operations, and design of the main tokamak systems. Possible implications for the way forward are discussed

Cost of providing injectable contraceptives through a community-based social marketing program in Tigray, Ethiopia.

Science.gov (United States)

Prata, Ndola; Downing, Janelle; Bell, Suzanne; Weidert, Karen; Godefay, Hagos; Gessessew, Amanuel

2016-06-01

To provide a cost analysis of an injectable contraceptive program combining community-based distribution and social marketing in Tigray, Ethiopia. We conducted a cost analysis, modeling the costs and programmatic outcomes of the program's initial implementation in 3 districts of Tigray, Ethiopia. Costs were estimated from a review of program expense records, invoices, and interviews with health workers. Programmatic outcomes include number of injections and couple-year of protection (CYP) provided. We performed a sensitivity analysis on the average number of injections provided per month by community health workers (CHWs), the cost of the commodity, and the number of CHWs trained. The average programmatic CYP was US $17.91 for all districts with a substantial range from US $15.48-38.09 per CYP across districts. Direct service cost was estimated at US $2.96 per CYP. The cost per CYP was slightly sensitive to the commodity cost of the injectable contraceptives and the number of CHWs. The capacity of each CHW, measured by the number of injections sold, was a key input that drove the cost per CYP of this model. With a direct service cost of US $2.96 per CYP, this study demonstrates the potential cost of community-based social marketing programs of injectable contraceptives. The findings suggest that the cost of social marketing of contraceptives in rural communities is comparable to other delivery mechanisms with regards to CYP, but further research is needed to determine the full impact and cost-effectiveness for women and communities beyond what is measured in CYP. Copyright © 2016 Elsevier Inc. All rights reserved.

26 CFR 1.471-4 - Inventories at cost or market, whichever is lower.

Science.gov (United States)

2010-04-01

... lower. 1.471-4 Section 1.471-4 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Inventories § 1.471-4 Inventories at cost or market, whichever is lower. (a) In general—(1) Market definition. Under ordinary circumstances and for normal goods...

Market penetration scenarios for fuel cell vehicles

Energy Technology Data Exchange (ETDEWEB)

Thomas, C.E.; James, B.D.; Lomax, F.D. Jr. [Directed Technologies, Inc., Arlington, VA (United States)

1997-12-31

Fuel cell vehicles may create the first mass market for hydrogen as an energy carrier. Directed Technologies, Inc., working with the US Department of Energy hydrogen systems analysis team, has developed a time-dependent computer market penetration model. This model estimates the number of fuel cell vehicles that would be purchased over time as a function of their cost and the cost of hydrogen relative to the costs of competing vehicles and fuels. The model then calculates the return on investment for fuel cell vehicle manufacturers and hydrogen fuel suppliers. The model also projects the benefit/cost ratio for government--the ratio of societal benefits such as reduced oil consumption, reduced urban air pollution and reduced greenhouse gas emissions to the government cost for assisting the development of hydrogen energy and fuel cell vehicle technologies. The purpose of this model is to assist industry and government in choosing the best investment strategies to achieve significant return on investment and to maximize benefit/cost ratios. The model can illustrate trends and highlight the sensitivity of market penetration to various parameters such as fuel cell efficiency, cost, weight, and hydrogen cost. It can also illustrate the potential benefits of successful R and D and early demonstration projects. Results will be shown comparing the market penetration and return on investment estimates for direct hydrogen fuel cell vehicles compared to fuel cell vehicles with onboard fuel processors including methanol steam reformers and gasoline partial oxidation systems. Other alternative fueled vehicles including natural gas hybrids, direct injection diesels and hydrogen-powered internal combustion hybrid vehicles will also be analyzed.

Security of supply in electricity markets: Improving cost efficiency of supplying security and possible welfare gains

DEFF Research Database (Denmark)

Klinge Jacobsen, Henrik; Grenaa Jensen, Stine

2012-01-01

In liberalised markets the ability to maintain security of electricity supply is questioned because security is characterised as a public good. We discuss if this property can be modified with changing technology. Furthermore, we examine if construction of markets for security can be justified...... by possible welfare gains. From a welfare perspective it is possible that security levels are too high and obtained with too high costs. Adjusting the effort so that marginal cost for securing supply is at similar levels in generation capacity and in network maintenance could increase welfare even without...... the need to construct markets. Secondarily, a consumer defined average level of security might improve welfare. Finally, different willingness to pay among customers and construction of advanced markets might increase welfare further. We argue that several cost and welfare improvements can be achieved...

Regulating the Dutch pharmaceutical market: improving efficiency or controlling costs?

NARCIS (Netherlands)

Wolf, de P.; Brouwer, W.B.F.; Rutten, F.H.

2005-01-01

In this paper, we describe the Dutch pharmaceutical market, which is heavily regulated by the government. Through the regulation of prices and promoting prudent use, the Dutch government tries to bring down the cost of pharmaceuticals, which increases every year at a higher rate than total health

Analysis of Effectiveness of Modern Information and Communication Technologies on Maize Marketing Efficiency in Selected Markets of Malawi

OpenAIRE

Tione, S. E.; Katengeza, Samson P.; Mangisoni, Julius H.

2013-01-01

Developing countries have been promoting initiatives that aim at reducing information asymmetry among market players especially smallholder farmers. Using co-integration error correction models, the study assessed effectiveness of modern Information and Communication Technologies (ICT) based market interventions in improving maize market efficiency in Malawi. Considering that efficient markets are integrated markets when price difference is only a factor of transaction costs, Threshold Autore...

AGENCY COSTS DAN KEBIJAKAN DIVIDEN PADA EMERGING MARKET

Directory of Open Access Journals (Sweden)

Darman Darman

2017-03-01

Full Text Available The purpose of this research was to analyze agency costs and dividend policy onemerging market. The research population was 147 manufacture industry companies listedat the Indonesian Stock Exchange. Sample were retrieved bases on purposive sampling method,there were 25 companies, which were fulfilling the condition needed, starting from 2000until 2005, pooling data with analysis unit n = 6 x 25 = 150. Research used ordinary leastsquare. Research results showed that agency costs did not significantly influence dividendpolicy. Research conclusion was that agency costs were not important factors of dividendpolicy. Next analysis result showed that insider ownership, institutional ownership, dispertionof ownership, and free cash flow did not significantly influence dividen policy. Thecollateralizable asset significantly influenced dividend policy. This finding showed that therewas no agencial conflicts between manager (agent and stockholders (principals in emergingmarket (manufacture industry companies listed at the Indonesian Stock Exchange. However,there were agencial conflicts between stockholders and creditor (bondholders.

Do small labor market entry cohorts reduce unemployment?

Directory of Open Access Journals (Sweden)

Alfred Garloff

2013-09-01

Full Text Available BACKGROUND Germany, like many OECD countries, faces a shift in the age composition of its population,and will face an even more drastic demographic change in the years ahead. From a theoretical point of view, decreasing cohort sizes may on the one hand reduce unemployment due to inverse cohort crowding or, on the other hand, increase unemploymentif companies reduce jobs disproportionately. Consequently, the actual effect of cohort shrinkage on employment and unemployment is an empirical question. OBJECTIVE We quantitatively assess the relationship between (unemployment and cohort sizes. METHODS We analyze a long panel of population and labor-market data for Western German labor market regions. We isolate the direct, statistical effect of aging in a decomposition approach and estimate the overall effect by regression. In this context, we account for the likely endogeneity of cohort size due to migration of the young workforce across regions using lagged births as instrument. RESULTS The direct effect of the age composition of the labor force on unemployment is negligible.In contrast, the elasticities of unemployment and employment with regard to the labor-market entry cohort's size are significantly positive or negative, respectively. The causal effect indicates an over-elastic reaction by unemployment. CONCLUSIONS Our results provide good news for the Western German labor market: small entry cohorts are indeed likely to decrease the overall unemployment rate and thus to improve the situation of job seekers. Accordingly, we find the employment rate is positively affected by a decrease in the youth proportion.

Internalizing environmental costs: A survey of progress in estimating the external environmental costs of electricity production and a review of market-based policies to incorporate them

International Nuclear Information System (INIS)

Eto, J.H.; Helcke, G.

1991-01-01

The production of electricity creates environmental insults whose costs are not fully reflected in the prices paid by consumers for electricity services. Failure to incorporate these external costs leads to economically inefficient production and consumption decisions. The present work reviews two related efforts to address this market distortion. The first concerns progress in estimating the uninternalized environmental costs of electricity production. The second concerns market-based approaches to internalizing these costs in electricity production and consumption decisions. 10 tabs.; 41 refs

COST ANALYSIS OF LONG ESTABLISHED AND NEWER ORAL ANTIEPILEPTIC DRUGS AVAILABLE IN THE INDIAN MARKET

Directory of Open Access Journals (Sweden)

Phatak Abhishek M, Hotwani Jitendra H, Deshmukhkiran R, Panchal Sagar S, Naik Madhura S

2015-10-01

Full Text Available Background: Large number of pharmaceutical companies manufactures antiepileptic drugs in India. The price variations among the marketed drugs are wide. Aims: The present study was aimed to find the cost of different oral antiepileptic drugs available in Indian market as monotherapy, combination therapy and number of manufacturing companies for each, to evaluate difference in cost of different brands of same dosage of same active drug by calculating percentage variation of cost. Methods and Materials: Cost of a drug being manufactured by different companies, in the same strength and dosage forms was obtained from “Indian Drug Review” Vol. XXI, Issue No.4, 2014 and “Current Index of Medical Specialties” July-October 2014. The difference in the maximum and minimum price of the same drug manufactured by different pharmaceutical companies and percentage variation in price was calculated. Results: The percentage price variation noted of long-established drugs was – Phenytoin (50mg: 140%, Carbamazepine (100mg: 1033%, Phenobarbital (30mg : 730%, Valproic acid (300mg : 420%. Newer drugs –Levetiracetam (250mg: 75%, Lamotrigine (25mg: 66%, Topiramate (50mg: 108%, Zonisamide (100mg: 19%. Combination drugs – Phenobarbital + Phenytoin (30+100 mg: 354.55%. Conclusion: The percentage price variation of different brands of the same commonly used long-established oral antiepileptic drug manufactured in India is very wide. The formulation or brand of Antiepileptic drugs (AED’s should preferably not be changed since variations in bioavailability or different pharmacokinetic profiles may increase the potential for reduced effect or excessive side effects. Hence, manufacturing companies should aim to decrease the price variation while maintaining the therapeutic efficacy.

Liberalised electricity markets, new bioenergy technologies, and GHG emission reductions: interactions and CO2 mitigation costs

International Nuclear Information System (INIS)

Gustavsson, L.; Madlener, R.

1999-01-01

We contrast recent developments in power and heat production with bioenergy, and natural-gas-fired condensing plants with and without decarbonisation, in the light of electricity market liberalisation. Our main focus is on CO 2 mitigation costs and carbon tax sensitivity of production costs. We find that CO 2 mitigation costs are lower for biomass systems using IGCC technology than for natural gas system using decarbonisation. However, based on current fuel prices natural-gas fired co-generation plants have the lowest production costs. Hence energy policy measures will be needed to promote biomass technologies and decarbonisation options on a liberalised market. (author)

Integrated Cost Allocation of Transmission Usage under Electricity Markets

Directory of Open Access Journals (Sweden)

Hermagasantos Zein

2012-08-01

Full Text Available Cost allocation of transmission usage on the power networks is an important issue especially in the modern electricity market mechanism. In this context, all costs that have been embedded in the transmission, embedded cost, should be covered by the transmission users. This paper follows general methods, where generators are fullyresponsible to cover the embedded cost. It proposes a method to determine the cost allocation of transmission usage based on decomposition through the superposition techinique to determine power flow contributions from an integrated base case of the results of the power flow calculations of all transactions, bilateral and nonbilateral contracts. Mathematically, the applied formulations are illustrated clearly in this paper. The proposed method has been tested with 5-bus system and the results are much different compared to a few of the published methods. This is shown by the test results on the 5 bus system. The published methods produce total power flow contributions in each line is greater than the actual. And they earn total revenues approximately 11.6% greater than the embedded cost. While on the proposed method, the power flow contribu tions are equal to the actual and the revenues are equal to the embedded cost. It shows also that the proposed method gives results as expected.

Reducing Operating Room Costs Through Real-Time Cost Information Feedback: A Pilot Study.

Science.gov (United States)

Tabib, Christian H; Bahler, Clinton D; Hardacker, Thomas J; Ball, Kevin M; Sundaram, Chandru P

2015-08-01

To create a protocol for providing real-time operating room (OR) cost feedback to surgeons. We hypothesize that this protocol will reduce costs in a responsible way without sacrificing quality of care. All OR costs were obtained and recorded for robot-assisted partial nephrectomy and laparoscopic donor nephrectomy. Before the beginning of this project, costs pertaining to the 20 most recent cases were analyzed. Items were identified from previous cases as modifiable for replacement or omission. Timely feedback of total OR costs and cost of each item used was provided to the surgeon after each case, and costs were analyzed. A cost analysis of the robot-assisted partial nephrectomy before the washout period indicates expenditures of $5243.04 per case. Ten recommended modifiable items were found to have an average per case cost of $1229.33 representing 23.4% of the total cost. A postwashout period cost analysis found the total OR cost decreased by $899.67 (17.2%) because of changes directly related to the modifiable items. Therefore, 73.2% of the possible identified savings was realized. The same stepwise approach was applied to laparoscopic donor nephrectomies. The average total cost per case before the washout period was $3530.05 with $457.54 attributed to modifiable items. After the washout period, modifiable items costs were reduced by $289.73 (8.0%). No complications occurred in the donor nephrectomy cases while one postoperative complication occurred in the partial nephrectomy group. Providing surgeons with feedback related to OR costs may lead to a change in surgeon behavior and decreased overall costs. Further studies are needed to show equivalence in patient outcomes.

Opportunities for Low Cost Titanium in Reduced Fuel Consumption, Improved Emissions, and Enhanced Durability Heavy Duty Vehicles

Energy Technology Data Exchange (ETDEWEB)

Kraft, E.H.

2002-07-22

The purpose of this study was to determine which components of heavy-duty highway vehicles are candidates for the substitution of titanium materials for current materials if the cost of those Ti components is very significantly reduced from current levels. The processes which could be used to produce those low cost components were also investigated. Heavy-duty highway vehicles are defined as all trucks and busses included in Classes 2C through 8. These include heavy pickups and vans above 8,500 lbs. GVWR, through highway tractor trailers. Class 8 is characterized as being a very cyclic market, with ''normal'' year volume, such as in 2000, of approximately 240,000 new vehicles. Classes 3-7 are less cyclic, with ''normal'' i.e., year 2000, volume totaling approximately 325,000 new vehicles. Classes 3-8 are powered about 88.5% by diesel engines, and Class 2C at very roughly 83% diesel. The engine portion of the study therefore focused on diesels. Vehicle production volumes were used in estimates of the market size for candidate components.

Does Prescription Drug Adherence Reduce Hospitalizations and Costs?

OpenAIRE

William Encinosa; Didem Bernard; Avi Dor

2010-01-01

We estimate the impact of diabetic drug adherence on hospitalizations, ER visits, and hospital costs, using insurance claims from MarketScan® employer data. However, it is often difficult to measure the impact of drug adherence on hospitalizations since both adherence and hospitalizations may be correlated with unobservable patient severity. We control for such unobservables using propensity score methods and instrumental variables for adherence such as drug coinsurance levels and direct-to- ...

Manual for Reducing Educational Unit Costs in Latin American Countries.

Science.gov (United States)

Centro Multinacional de Investigacion Educativa, San Jose (Costa Rica).

Designed for educational administrators, this manual provides suggestions for reducing educational unit costs in Latin America without reducing the quality of the education. Chapter one defines unit cost concepts and compares the costs of the Latin American countries. Chapter two deals with the different policies which could affect the principal…

The axiom about the market (cadastral cost of the reproducible factors of a single propert

Directory of Open Access Journals (Sweden)

A. D. Vlasov

2017-01-01

Full Text Available The purpose of the study. To prove the methodological error of the calculation of the market (cadastral value of capital construction objects, as a result of a violation of the Federal law of the Russian Federation of 29.07.1998 No. 135-FZ “On valuation activities in the Russian Federation”, article 3, in determining the market value of the property. To show that the theory and practice of measuring the value of real estate is necessary to delimit the elements of the market value formation of reproducible and not reproducible factors single property. Materials and methods. The objectives of the article are: the rules of law in assessment activities; the results of the cadastral valuation of real estate in settlements of Russia; comparative analysis of the factors determining the market (cadastral value of real estate. Results. Formulated the axiom about the market (cadastral cost of the reproducible factors of a single property. It is shown that in the theory and practice of measurement in market (cadastral value of real estate of Russia violated article 3 of the law 135-FZ of 29.07.1998. As a consequence, the market (cadastral cost of the capital construction objects 2-5 times overestimated, and the market (cadastral value of land in the 2-15 times underestimated. This is the basis of corruption, challenging the results of cadastral assessment of problems of formation of budgets of all levels, reduction in the rate of economic development of Russia. According to our results of the cadastral assessment of land plots of various categories of land in the regions of Russia there is a technology of determining the economic norms of rational use of real estate. Conclusion. Regardless of technology assessment of the property market value of reproducible improvements of the land may not exceed their replacement cost. 

Interactions of Reduced Deforestation and the Carbon Market: The Role of Market Regulations and Future Commitments

OpenAIRE

Anger, Niels; Dixon, Alistair; Livengood, Erich

2009-01-01

Reducing emissions from deforestation and degradation (REDD) has been proposed as a potentially inexpensive and plentiful source of emission abatement to supplement other longterm climate policies. However, critics doubt that REDD credits are environmentally equivalent to domestic emission reductions, and suggest an excess supply may disrupt carbon markets. In this context, we investigate the economic implications of emissions market regulations and future emissions reduction commitments, as ...

[Community marketing of contraceptives].

Science.gov (United States)

Urrutia, J M

1987-09-01

The 5-year-old community contraceptive distribution program developed by PROFAMILIA, Colombia's private family planning organization, has given excellent results, but several cost-effectiveness comparisons with social marketing programs have suggested that commercial distribution programs are superior. The community contraceptive distribution program has a high content of information and education activities, which produced significant increases in knowledge and use of contraception in the communities covered. It has been a fundamental support for the social marketing program, creating much of the demand for contraceptive products that the social marketing program has filled. The social marketing program has given good results in terms of volume of sales and in cost-effectiveness since 1976, prompting calls for replacement of the community contraceptive distribution program by the social marketing program in those sectors where knowledge and use of contraception have achieved acceptable levels. An experiment in the Department of Santander in 1984 and 1985 gave very favorable results, suggesting that community contraceptive distribution programs should be replaced by social marketing programs in all more developed markets. But economic problems in 1985 and the decision of manufacturers to decrease the profit margin for PROFAMILIA jeopardized the social marketing program. The community distribution program covered about 20% of the market. Reduced profits in the social marketing program threatened its continued expansion, at the same time that potential demand was growing because of increases in the fertile aged population and increased use of contraception. To meet the need, PROFAMILIA combined the community contraceptive distribution and social marketing programs into a new entity to be called community marketing. The strategy of the community marketing program will be to maintain PROFAMILIA's participation in the market and aid the growth of demand for

Market diffusion, technological learning, and cost-benefit dynamics of condensing gas boilers in the Netherlands

NARCIS (Netherlands)

Weiss, M.; Dittmar, L.; Junginger, H.M.; Patel, M.K.; Blok, K.

2009-01-01

High costs often prevent the market diffusion of novel and efficient energy technologies. Monitoring cost and price decline for these technologies is thus important in order to establish effective energy policy. Here, we present experience curves and cost-benefit analyses for condensing gas boilers

Banking regulation and market making

OpenAIRE

Cimon, David A.; Garriott, Corey

2017-01-01

We present a model of market makers subject to recent banking regulations: liquidity and capital constraints in the style of Basel III and a position limit in the style of the Volcker Rule. Regulation causes market makers to reduce their intermediation by refusing principal positions. However, it can improve the bid-ask spread because it induces new market makers to enter. Since market makers intermediate less, asset prices exhibit a liquidity premium. Costs of regulation can be assessed by m...

Reducing maintenance costs

International Nuclear Information System (INIS)

Zaiss, W.; Reuschle, K.; Baier, B.

2002-01-01

The increasingly more expensive maintenance measures, cuts in the cost budget, and the loss of know-how on the part of vendors all require a change of policy with respect to maintenance concepts of the part of operators. This also applies to the existing valve concepts, the drives included. Under these aspects, the current drive, which is self-actuated and actuated by outside media, for a parallel-plate valve of a nomial width of 700 was reconsidered. The effort served to reduce maintenance costs and, at the same time, simplify the drive concept as well as cut back on the number of in-service inspections. Moreover, the number of active components were to be minimized and installation conditions in the plant were to be improved. When the boundary conditions to be observed with respect to process technology had been laid down, the competent technical department developed a concept of modification of the drive. A major constituent part was the demonstration of the functioning capability of the new drive under accident conditions. It was achieved mainly by an analytical approach. In the resultant drive concept, the same control valves are employed to actuate a driving cylinder by means of self-actuation or by an outside medium as a function of pressure. (orig.) [de

Market efficiency in the European carbon markets

International Nuclear Information System (INIS)

Charles, Amélie; Darné, Olivier; Fouilloux, Jessica

2013-01-01

In this paper, we study the relationship between futures and spot prices in the European carbon markets from the cost-of-carry hypothesis. The aim is to investigate the extent of efficiency market. The three main European markets (BlueNext, EEX and ECX) are analyzed during Phase II, covering the period from March 13, 2009 to January, 17, 2012. Futures contracts are found to be cointegrated with spot prices and interest rates for several maturities in the three CO 2 markets. Results are similar when structural breaks are taken into account. According to individual and joint tests, the cost-of-carry model is rejected for all maturities and CO 2 markets, implying that neither contract is priced according to the cost-of-carry model. The absence of the cost-of-carry relationship can be interpreted as an indicator of market inefficiency and may bring arbitrage opportunities in the CO 2 market. - Highlights: • We study the cost-of-carry hypothesis in the European carbon markets during Phase 2. • We apply cointegration tests with and without structural breaks on several maturities. • We find that futures contracts are cointegrated with spot prices and interest rates. • The cost-of-carry model is rejected for all maturities and carbon markets

Wind farm production cost: Optimum turbine size and farm capacity in the actual market

Energy Technology Data Exchange (ETDEWEB)

Laali, A.R.; Meyer, J.L.; Bellot, C. [Electricite de France, Chatou (France); Louche, A. [Espace de Recherche, Ajaccio (France)

1996-12-31

Several studies are undertaken in R&D Division of EDF in collaboration with ERASME association in order to have a good knowledge of the wind energy production costs. These studies are performed in the framework of a wind energy monitoring project and concern the influence of a few parameters like wind farm capacity, turbine size and wind speed on production costs, through an analysis of the actual market trend. Some 50 manufacturers and 140 different kind of wind turbines are considered for this study. The minimum production cost is situated at 800/900 kW wind turbine rated power. This point will probably move to more important powers in the future. This study is valid only for average conditions and some special parameters like particular climate conditions or lack of infrastructure for a special site the could modify the results shown on the curves. The variety of wind turbines (rated power as a function of rotor diameter, height and specific rated power) in the actual market is analyzed. A brief analysis of the market trend is also performed. 7 refs., 7 figs.

Aqueous nitrate waste treatment: Technology comparison, cost/benefit, and market analysis

Energy Technology Data Exchange (ETDEWEB)

1994-01-01

The purpose of this analysis is to provide information necessary for the Department of Energy (DOE) to evaluate the practical utility of the Nitrate to Ammonia and Ceramic or Glass (NAC/NAG/NAX) process, which is under development in the Oak Ridge National Laboratory. The NAC/NACx/NAX process can convert aqueous radioactive nitrate-laden waste to a glass, ceramic, or grout solid waste form. The tasks include, but are not limited to, the following: Identify current commercial technologies to meet hazardous and radiological waste disposal requirements. The technologies may be thermal or non-thermal but must be all inclusive (i.e., must convert a radionuclide-containing nitrate waste with a pH around 12 to a stable form that can be disposed at permitted facilities); evaluate and compare DOE-sponsored vitrification, grouting, and minimum additive waste stabilization projects for life-cycle costs; compare the technologies above with respect to material costs, capital equipment costs, operating costs, and operating efficiencies. For the NAC/NAG/NAX process, assume aluminum reactant is government furnished and ammonia gas may be marketed; compare the identified technologies with respect to frequency of use within DOE for environmental management applications with appropriate rationale for use; Assess the potential size of the DOE market for the NAC/NAG/NAX process; assess and off-gas issues; and compare with international technologies, including life-cycle estimates.

Aqueous nitrate waste treatment: Technology comparison, cost/benefit, and market analysis

International Nuclear Information System (INIS)

1994-01-01

The purpose of this analysis is to provide information necessary for the Department of Energy (DOE) to evaluate the practical utility of the Nitrate to Ammonia and Ceramic or Glass (NAC/NAG/NAX) process, which is under development in the Oak Ridge National Laboratory. The NAC/NACx/NAX process can convert aqueous radioactive nitrate-laden waste to a glass, ceramic, or grout solid waste form. The tasks include, but are not limited to, the following: Identify current commercial technologies to meet hazardous and radiological waste disposal requirements. The technologies may be thermal or non-thermal but must be all inclusive (i.e., must convert a radionuclide-containing nitrate waste with a pH around 12 to a stable form that can be disposed at permitted facilities); evaluate and compare DOE-sponsored vitrification, grouting, and minimum additive waste stabilization projects for life-cycle costs; compare the technologies above with respect to material costs, capital equipment costs, operating costs, and operating efficiencies. For the NAC/NAG/NAX process, assume aluminum reactant is government furnished and ammonia gas may be marketed; compare the identified technologies with respect to frequency of use within DOE for environmental management applications with appropriate rationale for use; Assess the potential size of the DOE market for the NAC/NAG/NAX process; assess and off-gas issues; and compare with international technologies, including life-cycle estimates

Managing hybrid marketing systems.

Science.gov (United States)

Moriarty, R T; Moran, U

1990-01-01

As competition increases and costs become critical, companies that once went to market only one way are adding new channels and using new methods - creating hybrid marketing systems. These hybrid marketing systems hold the promise of greater coverage and reduced costs. But they are also hard to manage; they inevitably raise questions of conflict and control: conflict because marketing units compete for customers; control because new indirect channels are less subject to management authority. Hard as they are to manage, however, hybrid marketing systems promise to become the dominant design, replacing the "purebred" channel strategy in all kinds of businesses. The trick to managing the hybrid is to analyze tasks and channels within and across a marketing system. A map - the hybrid grid - can help managers make sense of their hybrid system. What the chart reveals is that channels are not the basic building blocks of a marketing system; marketing tasks are. The hybrid grid forces managers to consider various combinations of channels and tasks that will optimize both cost and coverage. Managing conflict is also an important element of a successful hybrid system. Managers should first acknowledge the inevitability of conflict. Then they should move to bound it by creating guidelines that spell out which customers to serve through which methods. Finally, a marketing and sales productivity (MSP) system, consisting of a central marketing database, can act as the central nervous system of a hybrid marketing system, helping managers create customized channels and service for specific customer segments.

Reducing Interaction Costs for Self-interested Agents

Science.gov (United States)

Zhang, Yunqi; Larson, Kate

In many multiagent systems, agents are not able to freely interact with each other or with a centralized mechanism. They may be limited in their interactions by cost or by the inherent structure of the system. Using a combinatorial auction application as motivation, we study the impact of interaction costs and structure on the strategic behaviour of self-interested agents. We present a particular model of costly agent-interaction, and argue that self-interested agents may wish to coordinate their actions with their neighbours so as to reduce their individual costs. We highlight the issues that arise in such a setting, propose a cost-sharing mechanism that agents can use, and discuss group coordination procedures. Experimental work validates our model.

QUALITY COSTS AS THE FACTOR OF COMPETITIVENESS INCREASE AT DOMESTIC AND FOREIGN MARKET

OpenAIRE

Lazibat, Tonći; Matić, Božo

2000-01-01

The paper discusses the importance of quality costs as the factor of competitiveness at the world market. For this purpose it is given definition of quality costs, their structure and characteristics, and the control system-supervision, as the subsystem of quality system determined by international standards ISO 9000ff. There are also analyzed experiences in monitoring the quality costs in developed countries and countries in transition-transitional countries, with a special retrospect to the...

Autonomous Droop Scheme With Reduced Generation Cost

DEFF Research Database (Denmark)

Nutkani, Inam Ullah; Loh, Poh Chiang; Wang, Peng

2014-01-01

) of the microgrid. To reduce this TGC without relying on fast communication links, an autonomous droop scheme is proposed here, whose resulting power sharing is decided by the individual DG generation costs. Comparing it with the traditional scheme, the proposed scheme retains its simplicity and it is hence more....... This objective might, however, not suit microgrids well since DGs are usually of different types, unlike synchronous generators. Other factors like cost, efficiency, and emission penalty of each DG at different loading must be considered since they contribute directly to the total generation cost (TGC...

License or entry decision for innovator in international duopoly with convex cost functions

OpenAIRE

Hattori, Masahiko; Tanaka, Yasuhito

2017-01-01

We consider a choice of options for a foreign innovating firm to license its new cost-reducing technology to a domestic incumbent firm or to enter the domestic market with or without license under convex cost functions. With convex cost functions the domestic market and the foreign market are not separated, and the results depend on the relative size of those markets. In a specific case with linear demand and quadratic cost, entry without license strategy is never the optimal strategy for the...

Planning uncertainties, market risks and new environmental choices: Winning least cost planning combinations

International Nuclear Information System (INIS)

Violette, D.; Lang, C.

1990-01-01

Utility demand and supply-side planners will face new challenges from environmental regulations. Under current proposals, every ton of pollutant will have a cost to utilities, not just the tons that put them over the allowable limit. Planners will have to account for these new costs. To do this, planners need to start tracking emissions implementation actions today, and begin strategies for future regulatory changes. Current legislative proposals include a tax on the carbon content of fuels to curb emissions of greenhouse gases and substantial reductions in sulfur dioxide and nitrogen oxide emissions. The important issue for planners is the flexible compliance requirements within these regulatory changes. The acid rain proposals, for example, include a market-based emissions trading system for emissions allowances. Whenever there is a competitive market, there are market risks, and potential winners and losers. Utilities need to be prepared to analyze and mitigate these risks. Integrated least cost planing is one way a utility will have to meet this challenge. Planning involves uncertainty and risk. The wide array of compliance choices create countless combinations of strategies for utilities to comply with the new emissions regulations. This paper discusses new compliance strategies, demand-side management (DSM) as a compliance strategy, solutions to DSM traps, and the compliance strategy game

Costs of reducing nutrient losses in Denmark

DEFF Research Database (Denmark)

Jacobsen, Brian H.; Abildtrup, Jens; Jensen, Jørgen Dejgård

to the eastern part of Denmark. The final plan for the Aquatic Environment III from 2004 included a 13% reduction of N-leaching until 2015 based on cost effective administrative measures like wetlands and catch crops. Also a tax on mineral phosphorus in feedstuffs was included in order to half the phosphorus......The economic calculations carried out prior to the Plan for the Aquatic Environment III included a comparison of regulation systems aimed at reducing nitrogen leaching, analyses of measures for reducing phosphorus losses and estimation of administrative costs. The conclusions were that taxation...... surplus. The measures in the Plan will have to be supplemented by more measures to meet the targets in the EU's Water Framework Directive....

Does Intellectual Property Restrict Output? An Analysis of Pharmaceutical Markets*

Science.gov (United States)

Lakdawalla, Darius; Philipson, Tomas

2013-01-01

Standard normative analysis of intellectual property focuses on the balance between incentives for research and the static welfare costs of reduced price-competition from monopoly. However, static welfare loss from patents is not universal. While patents restrict price competition, they may also provide static welfare benefits by improving incentives for marketing, which is a form of non-price competition. We show theoretically how stronger marketing incentives mitigate, and can even offset, the static costs of monopoly pricing. Empirical analysis in the pharmaceutical industry context suggests that, in the short-run, patent expirations reduce consumer welfare as a result of decreased marketing effort. In the long-run, patent expirations do benefit consumers, but by 30% less than would be implied by the reduction in price alone. The social value of monopoly marketing to consumers alone is roughly on par with its costs to firms. PMID:25221349

The impact of hospital market structure on patient volume, average length of stay, and the cost of care.

Science.gov (United States)

Robinson, J C; Luft, H S

1985-12-01

A variety of recent proposals rely heavily on market forces as a means of controlling hospital cost inflation. Sceptics argue, however, that increased competition might lead to cost-increasing acquisitions of specialized clinical services and other forms of non-price competition as means of attracting physicians and patients. Using data from hospitals in 1972 we analyzed the impact of market structure on average hospital costs, measured in terms of both cost per patient and cost per patient day. Under the retrospective reimbursement system in place at the time, hospitals in more competitive environments exhibited significantly higher costs of production than did those in less competitive environments.

From market games to real-world markets

Science.gov (United States)

Jefferies, P.; Hart, M. L.; Hui, P. M.; Johnson, N. F.

2001-04-01

This paper uses the development of multi-agent market models to present a unified approach to the joint questions of how financial market movements may be simulated, predicted, and hedged against. We first present the results of agent-based market simulations in which traders equipped with simple buy/sell strategies and limited information compete in speculatory trading. We examine the effect of different market clearing mechanisms and show that implementation of a simple Walrasian auction leads to unstable market dynamics. We then show that a more realistic out-of-equilibrium clearing process leads to dynamics that closely resemble real financial movements, with fat-tailed price increments, clustered volatility and high volume autocorrelation. We then show that replacing the `synthetic' price history used by these simulations with data taken from real financial time-series leads to the remarkable result that the agents can collectively learn to identify moments in the market where profit is attainable. Hence on real financial data, the system as a whole can perform better than random. We then employ the formalism of Bouchaud in conjunction with agent based models to show that in general risk cannot be eliminated from trading with these models. We also show that, in the presence of transaction costs, the risk of option writing is greatly increased. This risk, and the costs, can however be reduced through the use of a delta-hedging strategy with modified, time-dependent volatility structure.

Costs of emission-reducing manure application

NARCIS (Netherlands)

Huijsmans, J.F.M.; Verwijs, B.; Rodhe, L.; Smith, K.

2004-01-01

Favourable economics of handling and application of manure are of fundamental importance to encourage the implementation of emission-reducing application techniques. The economics of manure application depend on the costs of the equipment and the time to carry out the field operation. In this study

Reducing capital and operating costs in gas processing, liquefaction, and storage

Energy Technology Data Exchange (ETDEWEB)

Krusen, III, L C [Phillips Petroleum Co., Bartlesville, OK (United States). Research Div.

1997-06-01

The LNG industry is unanimous that capital costs must be reduced throughout the chain, and especially at the liquefaction facility including associated gas processing and LNG storage. The Ken ai LNG plant provides an example of how both reduced capital and operating costs were attained. This paper will cover cost production strategies that can be applied to liquefaction processes in general, and will than focus on their realization in the Phillips Optimized Cascade LNG process. The paper concludes that reduced LNG plant costs are attainable. (Author).

Reducing capital and operating costs in gas processing, liquefaction, and storage

International Nuclear Information System (INIS)

Krusen, L.C. III

1997-01-01

The LNG industry is unanimous that capital costs must be reduced throughout the chain, and especially at the liquefaction facility including associated gas processing and LNG storage. The Ken ai LNG plant provides an example of how both reduced capital and operating costs were attained. This paper will cover cost production strategies that can be applied to liquefaction processes in general, and will than focus on their realization in the Phillips Optimized Cascade LNG process. The paper concludes that reduced LNG plant costs are attainable. (Author)

Reducing Design Cycle Time and Cost Through Process Resequencing

Science.gov (United States)

Rogers, James L.

2004-01-01

In today's competitive environment, companies are under enormous pressure to reduce the time and cost of their design cycle. One method for reducing both time and cost is to develop an understanding of the flow of the design processes and the effects of the iterative subcycles that are found in complex design projects. Once these aspects are understood, the design manager can make decisions that take advantage of decomposition, concurrent engineering, and parallel processing techniques to reduce the total time and the total cost of the design cycle. One software tool that can aid in this decision-making process is the Design Manager's Aid for Intelligent Decomposition (DeMAID). The DeMAID software minimizes the feedback couplings that create iterative subcycles, groups processes into iterative subcycles, and decomposes the subcycles into a hierarchical structure. The real benefits of producing the best design in the least time and at a minimum cost are obtained from sequencing the processes in the subcycles.

Making Markets for Low-Cost Schooling: The Devices and Investments behind Bridge International Academies

Science.gov (United States)

Riep, Curtis B.

2017-01-01

This paper explores the market-making devices behind Bridge International Academies: a for-profit education company aiming to school millions of nursery and primary aged-students living on less than $2 per day. A wide variety of devices are utilised by Bridge International Academies to construct mass markets for low-cost schooling, including GPS…

Arbitrage in Energy Markets. Competing in the Incumbent's Shadow

International Nuclear Information System (INIS)

Kupper, G.; Willems, B.R.R.

2007-01-01

This paper studies the welfare implications of using market mechanisms to allocate transmission capacity in recently liberalized electricity markets. It questions whether access to this essential facility should be traded on a market, or whether the incumbent should retain exclusive usage rights. We show that granting exclusive use to the incumbent might be optimal, if the capacity of the essential facility is small and the incumbent can reduce production costs by taking advantage of interregional production-cost differences. This result counters the intuition that arbitrage will improve the social surplus when there is no output contraction. The reason is that when competition is imperfect, arbitrage might reduce production efficiency. We advise policymakers to introduce market mechanisms for the allocation of transmission capacity only if sufficient investment in the network is ensured or if the market power of the incumbent is broken in at least one of the markets in which it is active

Transaction costs in milk marketing: a comparison between Canada and Great Britain

NARCIS (Netherlands)

Royer, A.

2011-01-01

This study measures the magnitude of transaction costs incurred by milk producers in their contractual relations with dairy processors in two different coordination mechanisms: centralized contracting through a marketing board and decentralized bilateral contracting. Interviews and surveys were

Cost-effectiveness analysis of cetuximab in treatment of metastatic colorectal cancer in Iranian pharmaceutical market

Directory of Open Access Journals (Sweden)

Majid Davari

2015-01-01

Conclusions: The FOLFOX regimen + cetuximab provides lower costs per additional life years gained (more cost-effective compared with its alternatives in the treatment of patients with unresectable metastatic CRC. However, according to the WHO indicator, none of the cetuximab regimens could be considered as cost effective for the Iranian health care market.

Market performance and distributional effects on renewable energy markets

International Nuclear Information System (INIS)

Koutstaal, P.; Bijlsma, M.; Zwart, G.; Van Tilburg, X.; Ozdemir, O.

2009-08-01

A renewable obligation (RO) combined with tradable renewable energy certificates is a market-based instrument used to promote the production of electricity from renewable energy sources. A renewable obligation is an alternative for subsidies. A renewable obligation will only be an efficient instrument if certificate markets are efficient. This requires that there is no market power and no anti-competitive behaviour on the certificate market. If the current developments in Dutch renewable energy production continue, market power on a future renewable certificate market in the Netherlands will probably not be an issue, even if the RO should only rest on the retail market instead of on the whole electricity market. A renewable obligation will raise the retail price for consumers, thereby reducing consumer surplus. Simulations show that the retail electricity price increases with 30 euro per MWh to a level of 104 euro per MWh in case of a 30% renewable target. Consumer surplus is reduced with 19% compared to the baseline scenario. In contrast, a subsidy such as the Dutch SDE (Promoting Renewable Energy scheme or 'Stimulering Duurzame Energie') which is financed from the state budget has the effect to (slightly) lower the retail electricity price, thereby increasing consumer surplus. It should however be realised that the costs of the subsidy will indirectly affect electricity consumers through their tax payments.

Marketing potential of advanced breeding clones

Science.gov (United States)

The accumulation of reducing sugars during cold storage of potato tubers is a serious and costly problem for producers and processors. The degree to which cultivars accumulate reducing sugars during storage determines their processing and market potential. Cultivars or advanced breeding lines with...

Cost of Conflicts in the Common Market for Eastern and Southern ...

International Development Research Centre (IDRC) Digital Library (Canada)

The Common Market for Eastern and Southern Africa (COMESA) aims to promote social and economic development in the region. Conflicts, particularly in the area of the Great Lakes, are adversely affecting the regional integration agenda, although their actual costs have yet to be assessed. This grant will support the ...

Econometric analysis of the effect of marketing costs on grain prices ...

African Journals Online (AJOL)

Econometric analysis of the effect of marketing costs on grain prices in Kaduna State of Nigeria. JAL Effiong. Abstract. No Abstract. Journal of Agriculture and Social Research Vol. 6 (1) 2006: pp. 11-14. Full Text: EMAIL FREE FULL TEXT EMAIL FREE FULL TEXT · DOWNLOAD FULL TEXT DOWNLOAD FULL TEXT.

Ancillary reactive power service allocation cost in deregulated markets: a methodology

International Nuclear Information System (INIS)

Hernandez, J. Horacio Tovar; Jimenez-Guzman, Miguel; Gutierrez-Alcaraz, Guillermo

2005-01-01

This paper presents a methodology to allocate reactive power costs in deregulated markets. Reactive power supply service is decomposed into voltage regulation and reactive power spinning reserve. The proposed methodology is based on sensitivities and the postage-stamp method in order to allocate the total costs service among all participants. With the purpose of achieving this goal, the system operator identifies voltage support and/or reactive power requirements, and looks out for suitable providers. One case study is presented here to illustrate the methodology over a simplified southeastern Mexican grid. (Author)

Cost-effectiveness of pharmacotherapy to reduce obesity.

Directory of Open Access Journals (Sweden)

J Lennert Veerman

Full Text Available AIMS: Obesity causes a high disease burden in Australia and across the world. We aimed to analyse the cost-effectiveness of weight reduction with pharmacotherapy in Australia, and to assess its potential to reduce the disease burden due to excess body weight. METHODS: We constructed a multi-state life-table based Markov model in Excel in which body weight influences the incidence of stroke, ischemic heart disease, hypertensive heart disease, diabetes mellitus, osteoarthritis, post-menopausal breast cancer, colon cancer, endometrial cancer and kidney cancer. We use data on effectiveness identified from PubMed searches, on mortality from Australian Bureau of Statistics, on disease costs from the Australian Institute of Health and Welfare, and on drug costs from the Department of Health and Ageing. We evaluate 1-year pharmacological interventions with sibutramine and orlistat targeting obese Australian adults free of obesity-related disease. We use a lifetime horizon for costs and health outcomes and a health sector perspective for costs. Incremental Cost-Effectiveness Ratios (ICERs below A$50 000 per Disability Adjusted Life Year (DALY averted are considered good value for money. RESULTS: The ICERs are A$130 000/DALY (95% uncertainty interval [UI] 93 000-180 000 for sibutramine and A$230 000/DALY (170 000-340 000 for orlistat. The interventions reduce the body weight-related disease burden at the population level by 0.2% and 0.1%, respectively. Modest weight loss during the interventions, rapid post-intervention weight regain and low adherence limit the health benefits. CONCLUSIONS: Treatment with sibutramine or orlistat is not cost-effective from an Australian health sector perspective and has a negligible impact on the total body weight-related disease burden.

Issues in Water Quality Trading: Perspectives on the Market-Based Approach

Science.gov (United States)

Market mechanisms and incentives can play an important role in addressing environmental problems. Potential advantages of using market-based approaches include reducing the costs of meeting environmental goals and encouraging innovation. One market mechanism that has been promo...

Cost of equity on the Polish and global coal market - comparative analysis

OpenAIRE

Aneta Michalak

2014-01-01

The mining industry in Poland as well as in the world is considered to be a strategic industry, of special significance for the economy. At the same time it is an industry requiring high capital outlays. Equity plays an important role in financing of the mining enterprises. The objective of the article is to compare the cost of equity on the Polish and global coal market. The object of the research are the Polish and foreign mining enterprises listed on the stock markets. The basic research m...

DETERMINING COSTS-RETURNS PROFITABILITY IN HONEY MARKETING IN CROSS RIVER STATE, NIGERIA

OpenAIRE

Adinya, I.B; Ayuk, E.A; Akpet, S.O; Agiopu, B.F

2017-01-01

This study examined costs-returns profitability in honey marketing in Cross River State. Honey contains 29 percent of protein, 19 percent of amino acid, vitamins and minerals for bodybuilding. Honey mixed with aloe vera gel is use for cure of dandruff and rapid hair growth. This mixture could also help to prevent hair breakage. Honey pollen enhances vitality and brings about a longer life span. Data were obtained from a random sample of 120 honey marketers in the study area by means of struct...

Optimal distributed energy resources and the cost of reduced greenhouse gas emissions in a large retail shopping centre

International Nuclear Information System (INIS)

Braslavsky, Julio H.; Wall, Josh R.; Reedman, Luke J.

2015-01-01

Highlights: • Optimal options for distributed energy resources are analysed for a shopping centre. • A multiobjective optimisation model is formulated and solved using DER-CAM. • Cost and emission trade-offs are compared in four key optimal investment scenarios. • Moderate investment in DER technologies lowers emissions by 29.6% and costs by 8.5%. • Larger investment in DER technologies lowers emissions by 72% at 47% higher costs. - Abstract: This paper presents a case study on optimal options for distributed energy resource (DER) technologies to reduce greenhouse gas emissions in a large retail shopping centre located in Sydney, Australia. Large retail shopping centres take the largest share of energy consumed by all commercial buildings, and present a strong case for adoption of DER technologies to reduce energy costs and emissions. However, the complexity of optimally designing and operating DER systems has hindered their widespread adoption in practice. This paper examines and demonstrates the value of DER in reducing the carbon footprint of the shopping centre by formulating and solving a multiobjective optimisation problem using the Distributed Energy Resources Customer Adoption Model (DER-CAM) tool. An economic model of the shopping centre is developed in DER-CAM using on-site-specific demand, tariffs, and performance data for each DER technology option available. Four key optimal DER technology investment scenarios are then analysed by comparing: (1) solution trade-offs of costs and emissions, (2) the cost of reduced emissions attained in each investment scenario, and (3) investment benefits with respect to the business-as-usual scenario. The analysis shows that a moderate investment in combined cooling, heat and power (CCHP) technology alone can reduce annual energy costs by 8.5% and carbon dioxide-equivalent emissions by 29.6%. A larger investment in CCHP technology, in conjunction with on-site solar photovoltaic (PV) generation, can deliver

Analysis of Effectiveness of Modern Information and Communication Technologies on Maize Marketing Efficiency in Lilongwe and Dedza Districts and Selected Markets of Malawi

OpenAIRE

Tione, Sarah Ephridah

2011-01-01

Government of Malawi has been promoting initiatives like Malawi Agriculture Commodity Exchange (MACE) that aim at reducing information asymmetry among market players especially smallholder farmers. Using co-integration error correction models, the study assessed effectiveness of modern ICT based market interventions on improving maize marketing efficiency in Malawi. Considering that efficient markets are integrated markets when price difference is only a factor of transaction costs, TAR model...

Costs of electricity deregulation

International Nuclear Information System (INIS)

Woo, C.K.; King, M.

2006-01-01

The last decade has witnessed efforts throughout the world to deregulate the electricity industry, with varied results. While there have been a few qualified success stories, many challenges of deregulation have come to light. These challenges can lead to negative, even disastrous, outcomes. Based on a comprehensive literature review, this paper catalogues problems experienced in various deregulation efforts, and considers the application of the lessons learned from this history to Israel, which is considering deregulation. Failings of deregulation are found to center around the following problems: high set-up cost; complicated market design; inevitable spot price volatility; market power abuse; inefficient investment; difficulty in reducing generation cost; dysfunctional input markets; stranded cost; unequal distribution of benefits. We find that many of these problems are exacerbated by the particular circumstances faced by Israel, and advise any country or region considering deregulation to carefully consider these obstacles to success. (author)

A marketing clinical doctorate programs.

Science.gov (United States)

Montoya, Isaac D; Kimball, Olive M

2007-01-01

Over the past decade, clinical doctorate programs in health disciplines have proliferated amid both support and controversy among educators, professional organizations, practitioners, administrators, and third-party payers. Supporters argue that the explosion of new knowledge and increasing sophistication of technology have created a need for advanced practice models to enhance patient care and safety and to reduce costs. Critics argue that necessary technological advances can be incorporated into existing programs and believe that clinical doctorates will increase health care costs, not reduce them. Despite the controversy, many health disciplines have advanced the clinical doctorate (the most recent is the doctor of nursing practice in 2004), with some professions mandating the doctorate as the entry-level degree (i.e., psychology, pharmacy, audiology, and so on). One aspect of the introduction of clinical doctoral degrees has been largely overlooked, and that is the marketing aspect. Because of marketing considerations, some clinical doctorates have been more successfully implemented and accepted than others. Marketing is composed of variables commonly known as "the four P's of marketing": product, price, promotion, and place. This report explores these four P's within the context of clinical doctorates in the health disciplines.

Innovation in Nuclear Technology for the Least Product Price and Cost

International Nuclear Information System (INIS)

Duffey, Romney

2003-01-01

In energy markets, costs dominate for all new technology introductions (pressure valves, gas turbines, reactors) both now and far into the future. Technology improves, and costs are reduced as markets are penetrated with the trend following a learning/experience curve (MCE) based on classic economic forces. The curve followed is governed by development costs and market targets, and nuclear systems follow such a curve in order to compete with other technologies and projected future cost for alternate energy initiatives. Funding impacts directly on market penetration and on the ''learning rate.'' The CANDU/AECL development path (experience curve) is a chosen balance between evolution and revolution for a competitive advantage

General Equilibrium in a Segmented Market Economy with Convex Transaction Cost: Existence, Efficiency, Commodity and Fiat Money

OpenAIRE

Starr, Ross M.

2002-01-01

This study derives the monetary structure of transactions, the use of commodity or fiat money, endogenously from transaction costs in a segmented market general equilibrium model. Market segmentation means there are separate budget constraints for each transaction: budgets balance in each transaction separately. Transaction costs imply differing bid and ask (selling and buying) prices. The most liquid instruments are those with the lowest proportionate bid/ask spread in equilibrium. Exist...

Modeling market power in Korea's emerging power market

International Nuclear Information System (INIS)

Ahn, Nam-sung; Niemeyer, Victor

2007-01-01

The Korean power market is being formed from the unbundled generation, transmission and distribution assets of Korea Electric Power Corporation. The KEPCO generation has been allocated to six independent gencos with a combined generating capacity of 46,629 MW in 2002. This gave an 11% margin over the peak load that year (41,921 MW). One of the concerns for any power market is whether individual participants can increase profits (and prices) by withholding generation from the market. To address this concern, a Cournot-based model of Korean power system was created and applied to a set of loads representing the load duration curve for Korea's system loads in 2002. Our simulation results show a strong possibility for exercise of market power to increase market price in Korean market. Under tight market conditions, even 1 GW of withholding can cause a large increase in market price. If loads unexpectedly grow faster than the 5% recent experience, the gencos will have the collective ability and incentive to spike prices further. Vesting contracts can reduce the incentive to act strategically. Requiring that the gencos offer 50% of their capacity in long-term forward contracts greatly reduces the payoff to act strategically, and requiring vesting for 75% of their capacity results in prices that are essentially the same as the competitive equilibrium. Depending on the price for the vesting contracts, this policy can reduce the incentives to add new generation by gencos or the competitive fringe. Another approach to reducing the effects of market power is establishing demand-response programs, simulated here by increasing the elasticity of overall demand. These programs can reduce the incentives to withhold capacity, but to a lesser degree than vesting contracts. The genco with the greatest ability to influence prices through withholding is the largest, KNHP. However, acting on its own, without the support of the other gencos, its ability to raise prices is limited. This

Electricity prices and generator behaviour in gross pool electricity markets

International Nuclear Information System (INIS)

O'Mahoney, Amy; Denny, Eleanor

2013-01-01

Electricity market liberalisation has become common practice internationally. The justification for this process has been to enhance competition in a market traditionally characterised by statutory monopolies in an attempt to reduce costs to end-users. This paper endeavours to see whether a pool market achieves this goal of increasing competition and reducing electricity prices. Here the electricity market is set up as a sealed bid second price auction. Theory predicts that such markets should result with firms bidding their marginal cost, thereby resulting in an efficient outcome and lower costs to consumers. The Irish electricity system with a gross pool market experiences among the highest electricity prices in Europe. Thus, we analyse the Irish pool system econometrically in order to test if the high electricity prices seen there are due to participants bidding outside of market rules or out of line with theory. Overall we do not find any evidence that the interaction between generator and the pool in the Irish electricity market is not efficient. Thus, the pool element of the market structure does not explain the high electricity prices experienced in Ireland. - Highlights: • We consider whether a gross pool achieves competitive behaviour. • We analyse the Irish pool system econometrically. • Results indicate the Irish pool system appears to work efficiently. • Generators appear to be bidding appropriately

Leveraging Technology to Reduce Patient Transaction Costs.

Science.gov (United States)

Edlow, Richard C

2015-01-01

Medical practices are under significant pressure to provide superior customer service in an environment of declining or flat reimbursement. The solution for many practices involves the integration of a variety of third-party technologies that conveniently interface with one's electronic practice management and medical records systems. Typically, the applications allow the practice to reduce the cost of each patient interaction. Drilling down to quantify the cost of each individual patient interaction helps to determine the practicality of implementation.

Organ Vouchers and Barter Markets: Saving Lives, Reducing Suffering, and Trading in Human Organs.

Science.gov (United States)

Cherry, Mark J

2017-10-01

The essays in this issue of The Journal of Medicine and Philosophy explore an innovative voucher program for encouraging kidney donation. Discussions cluster around a number of central moral and political/theoretical themes: (1) What are the direct and indirect health care costs and benefits of such a voucher system in human organs? (2) Do vouchers lead to more effective and efficient organ procurement and allocation or contribute to greater inequalities and inefficiencies in the transplantation system? (3) Do vouchers contribute to the inappropriate commodification of human body parts? (4) Is there a significant moral difference between such a voucher system and a market in human organs for transplantation? This paper argues that while kidney vouchers constitute a step in the right direction, fuller utilization of market-based incentives, including, but not limited to, barter exchanges (e.g., organ exchanges, organ chains, and organ vouchers), would save more lives and further reduce human suffering. © The Author 2017. Published by Oxford University Press, on behalf of the Journal of Medicine and Philosophy Inc. All rights reserved. For permissions, please e-mail: journals.permissions@oup.com.

Fuel cells make gains in power generation market

International Nuclear Information System (INIS)

Anon.

1996-01-01

The ultra-low emission, highly efficient natural gas-fueled fuel cell system is beginning to penetrate the electric power generation market in the US and abroad as the fuel cell industry lowers product costs. And, even as the current market continues to grow, fuel cell companies are developing new technology with even higher levels of energy efficiency. The paper discusses fuel cell efficiency, business opportunities, work to reduce costs, and evolving fuel cell technology

Reducing biosolids disposal costs using land application in forested areas

International Nuclear Information System (INIS)

Huffines, R.L.

1995-01-01

Switching biosolids land application from a reclamation site to a forested site significantly reduced the cost of biosolids disposal at the Savannah River Site. Previous beneficial reuse programs focused on reclamation of existing borrow pits. While extremely beneficial, this program became very costly due to the regulatory requirements for groundwater monitoring, soil monitoring and frequent biosolids analyses. A new program was developed to reuse biosolids in forested areas where the biosolids could be used as a soil conditioner and fertilizer to enhance timber yield. The forested land application site was designed so that groundwater monitoring and soil monitoring could be eliminated while biosolids monitoring and site maintenance were minimized. Monitoring costs alone were reduced by 80%. Capital costs for site preparation were also significantly reduced since there was no longer a need for expensive groundwater monitoring wells

Policy interactions, risk and price formation in carbon markets

International Nuclear Information System (INIS)

Blyth, William; Bunn, Derek; Kettunen, Janne; Wilson, Tom

2009-01-01

Carbon pricing is an important mechanism for providing companies with incentives to invest in carbon abatement. Price formation in carbon markets involves a complex interplay between policy targets, dynamic technology costs, and market rules. Carbon pricing may under-deliver investment due to R and D externalities, requiring additional policies which themselves affect market prices. Also, abatement costs depend on the extent of technology deployment due to learning-by-doing. This paper introduces an analytical framework based on marginal abatement cost (MAC) curves with the aim of providing an intuitive understanding of the key dynamics and risk factors in carbon markets. The framework extends the usual static MAC representation of the market to incorporate policy interactions and some technology cost dynamics. The analysis indicates that supporting large-scale deployment of mature abatement technologies suppresses the marginal cost of abatement, sometimes to zero, whilst increasing total abatement costs. However, support for early stage R and D may reduce both total abatement cost and carbon price risk. An important aspect of the analysis is in elevating risk management considerations into energy policy formation, as the results of the stochastic modelling indicate wide distributions for the emergence of carbon prices and public costs around the policy expectations. (author)

Reducing health care costs - potential and limitations of local ...

African Journals Online (AJOL)

Reducing health care costs - potential and limitations of local authority health services. ... both the quality and the cost-effectiveness of health care would be improved. ... LAs offer an appropriate structure for effective community control over the ...

The Cost of Collateralized Borrowing in the Colombian Money Market: Does Connectedness Matter?

OpenAIRE

Constanza Martínez; Carlos León

2014-01-01

Under the view that the market is a weighted and directed network (Barabási, 2003), this document is a first attempt to model the Colombian money market within a spatial econometrics framework. By estimating two standard spatial econometric models, we study the cost of collateralized borrowing (i.e. sell/buy backs) among Colombian financial institutions, and its relationship with the effects induced by traditional variables (leverage, size and borrowing levels), and by spatial variables resul...

Water Technology Innovation: 10 Market Opportunities

Science.gov (United States)

The Water Technology Innovation Blueprint offers an overview of market opportunities that include conserving and recovering energy, recovering nutrients, improving water infrastructure, reducing costs for water monitoring, and improving water quality.

Reactor decommissioning in a deregulated market

International Nuclear Information System (INIS)

Beverridge, George; Cooper, T.

2002-01-01

Full text: Deregulation of the electricity markets in North America and Western Europe has had many profound effects on the electric utilities and the nuclear industry. Deregulation has led to cost transparency, increased competition, and a drive by the utilities to reduce costs in order to maintain market share and margins. In the context of this more competitive and dynamic market having a clear picture of decommissioning liabilities and their successful discharge has a material impact on the financial performance of a utility. This paper will summarise BNFL Environmental Services' experience with regard to its experience in both the planning and implementation phases of a reactor decommissioning project. In particular it will demonstrate how commercial projects in crucial areas of strategy development, project implementation and site restoration, can be combined with an approach that is both commercial and innovative to reduce the risks to a utility. This paper sets out to demonstrate this viewpoint. (author)

Vulnerability of health to market forces.

Science.gov (United States)

Brezis, Mayer; Wiist, William H

2011-03-01

This article reviews adverse influences of for-profit enterprises on health care and public health, and examines significance for public policy. Narrative review. For-profit health-care industries may increase costs and reduce quality, leading to market failure and contributing to the USA's unflattering position in international comparisons of health-care efficiency. Drug and device corporations use strategies such as making biased inferences, influencing scientists and physicians, marketing rather than informing the public, and lobbying to control their own industry regulations to create market advantage. Successful marketing leads to the increased use of costly profit-making drugs and procedures over cheaper, nonpatented therapies. Because resources are limited, the overuse of costly modalities contributes to expensive health care, which presents a challenge to universal coverage. The free market also fosters the proliferation of industries, such as tobacco, food, and chemicals, which externalize costs to maximize profits, seek to unduly influence research by paying experts and universities, and attempt to control the media and regulatory agencies. Most vulnerable to the cumulative harm of these tactics are children, the poor, the sick, and the least educated. The free market can harm health and health care. The corporate obligation to increase profits and ensure a return to shareholders affects public health. Such excesses of capitalism pose formidable challenges to social justice and public health. The recognition of the health risks entailed by corporation-controlled markets has important implications for public policy. Reforms are required to limit the power of corporations.

Cost reducing investments and spatial competition

OpenAIRE

Domenico Scalera; Alberto Zazzaro

2005-01-01

In this paper we analyze the relationship between competition and cost reducing investments in the context of a location model. In particular, we derive the symmetric subgame-perfect equilibrium of a three-stage circular city model with closed-loop strategies, and study the effects of changes in competition fundamentals under both a given number of firms and free entry

The Dynamics of Bertrand Price Competition with Cost-Reducing Investments

DEFF Research Database (Denmark)

Iskhakov, Fedor; Rust, John; Schjerning, Bertel

We present a dynamic extension of the classic static model of Bertrand price competition that allows competing duopolists to undertake cost-reducing investments in an attempt to “leapfrog” their rival to attain low-cost leadership – at least temporarily. We show that leapfrogging occurs in equili......We present a dynamic extension of the classic static model of Bertrand price competition that allows competing duopolists to undertake cost-reducing investments in an attempt to “leapfrog” their rival to attain low-cost leadership – at least temporarily. We show that leapfrogging occurs...... in equilibrium, resolving the Bertrand investment paradox., i.e. leapfrogging explains why firms have an ex ante incentive to undertake cost-reducing investments even though they realize that simultaneous investments to acquire the state of the art production technology would result in Bertrand price competition...... leader. We show that the equilibrium involves investment preemption only when the firms invest in a deterministically alternating fashion and technological progress is deterministic. We prove that when technological progress is deterministic and firms move in an alternating fashion, the game has a unique...

Electricity market design of the future

International Nuclear Information System (INIS)

Peek, Markus; Diels, Robert

2016-01-01

The transformation of the power generation system, to one in which renewable energies will form a cornerstone, will change the requirements for all market actors. To achieve the goals of the German Energiewende ('energy transition'), greater flexibility in production and consumption is of particular importance. Flexibility enables the cost-effective integration of the fluctuating actual feed-in of renewable energies. On the one hand, the technical options for reducing existing technical inflexibilities are given to a considerable extent. On the other hand, analyses of the transnational compensation effects of load and renewable energy supply (RES) feed-in show that flexibility requirements can be reduced significantly in a common electricity market. Electricity markets in which there is open technological competition are an appropriate instrument for the flexibilization of the power supply system. In the short term, the mechanisms of competitive electricity markets ensure an efficient synchronization of supply and demand. Over the medium and long term, the market creates efficient incentives to adapt the generation system and the behavior of consumers to future needs, resulting from the changes in the residual load structure. But at the same time, in recent years the occurrence of negative electricity prices in situations with significantly positive residual loads show that flexibility restraints exist. The causes of these restraints are at least partly due to the market design or the regulatory framework. On the one hand, there are barriers to market entry and, on the other hand, price signals from the electricity markets do not reach all market actors or reach them distortedly. To enable the cost effective development of the different flexibility options in an open technology competition, restraints resulting from market design and the regulatory framework (e. g. in the framework of grid charges, the market and product design of control power markets

Essays on wholesale auctions in deregulated electricity markets

Science.gov (United States)

Baltaduonis, Rimvydas

2007-12-01

The early experience in the restructured electric power markets raised several issues, including price spikes, inefficiency, security, and the overall relationship of market clearing prices to generation costs. Unsatisfactory outcomes in these markets are thought to have resulted in part from strategic generator behaviors encouraged by inappropriate market design features. In this dissertation, I examine the performance of three auction mechanisms for wholesale power markets - Offer Cost Minimization auction, Payment Cost Minimization auction and Simple-Offer auction - when electricity suppliers act strategically. A Payment Cost Minimization auction has been proposed as an alternative to the traditional Offer Cost Minimization auction with the intention to solve the problem of inflated wholesale electricity prices. Efficiency concerns for this proposal were voiced due to insights predicated on the assumption of true production cost revelation. Using a game theoretic approach and an experimental method, I compare the two auctions, strictly controlling for the level of unilateral market power. A specific feature of these complex-offer auctions is that the sellers submit not only the quantities and the minimum prices that they are willing to sell at, but also the start-up fees, which are designed to reimburse the fixed start-up costs of the generation plants. I find that the complex structure of the offers leaves considerable room for strategic behavior, which consequently leads to anti-competitive and inefficient market outcomes. In the last chapter of my dissertation, I use laboratory experiments to contrast the performance of two complex-offer auctions against the performance of a simple-offer auction, in which the sellers have to recover all their generation costs - fixed and variable - through a uniform market-clearing price. I find that a simple-offer auction significantly reduces consumer prices and lowers price volatility. It mitigates anti-competitive effects

Assembling markets for wind power. An inquiry into the making of market devices

Energy Technology Data Exchange (ETDEWEB)

Pallesen, T.

2013-04-15

This project studies the making of a market for wind power in France. Markets for wind power, as well as markets for other renewable energies, are often referred to as 'political markets: On the one hand, wind power has the potential to reduce CO{sub 2}-emissions and thus stall the effects of electricity generation on climate change; and on the other hand, as an economic good, wind power is said to suffer from 'disabilities', such as high costs, fluctuating and unpredictable generation, etc. Therefore, because of its performance as a good, it is argued that the survival of wind power in the market is premised on different instruments, some of which I will refer to as 'prosthetic devices'. This thesis inquires into two such prosthetic devices: The feed-in tariff and the wind power development zones (ZDE) as they are negotiated and practiced in France, and the ways in which they affect the making of markets for wind power. In this thesis, it is argued that while the two devices frame the price of wind power and the location of turbines, they also affect and address questions of costs, profitability, and efficiency; and as such, they may be investigated as market devices. (Author)

From Non-market Support to Cost-Competitive Incentives. Wind Energy Commercialization in China

Energy Technology Data Exchange (ETDEWEB)

Wenqiang, Liu; Xiliang, Zhang; Shuhua, Gu; Gan, Lin

1999-07-01

This paper presents an overview of the development of wind energy in China. By examining the economics of windfarm development, it compares the economics of wind technology with other conventional energy technologies and analyzes the role of alternative policy instruments. Meanwhile, it identifies the major constraints of wind technology development and the defects of current non-market support from the government. It shows that the development of wind power will be directly subject to rational policy change, incentive mechanisms and institutional framework building. Particular importance is paid to market incentives to reach the objectives of commercialization and industrialization of wind power. The paper recommends some cost-competitive incentive measure and policies to drive the wind power market. It concludes that promising market incentives to speed up the development of wind energy include: (i) establish market competition mechanisms through standard power purchase agreement; (ii) adjust tax policies and government subsidies; (iii) stimulate investment incentive policies and regulations; and (iv) change governmental institutions and management modes. (author)

The impact of power market structure on CO2 cost pass-through to electricity prices under quantity competition. A theoretical approach

International Nuclear Information System (INIS)

Sijm, J.; Chen, Y.; Hobbs, B.F.

2012-01-01

We present a theoretical analysis of the impact of power market structure on the pass-through rate (PTR) of CO2 emissions trading (ET) costs on electricity prices. Market structure refers in particular to the number of firms active in the market and the intensity of oligopolistic competition as measured by the conjectural variation, as well as to the functional form of the power demand and supply curves. In addition, we analyse briefly the impact of other power market-related factors on the PTR of carbon costs to electricity prices. These include in particular the impact of ET-induced changes in the merit order of power generation technologies and the impact of pursuing other market strategies besides maximising generator profit, such as maximising market shares or sales revenues of power companies. Each of these factors can have a significant impact on the rate of passing-through carbon costs to electricity prices.

Hospital and Health Insurance Markets Concentration and Inpatient Hospital Transaction Prices in the U.S. Health Care Market.

Science.gov (United States)

Dauda, Seidu

2018-04-01

To examine the effects of hospital and insurer markets concentration on transaction prices for inpatient hospital services. Measures of hospital and insurer markets concentration derived from American Hospital Association and HealthLeaders-InterStudy data are linked to 2005-2008 inpatient administrative data from Truven Health MarketScan Databases. Uses a reduced-form price equation, controlling for cost and demand shifters and accounting for possible endogeneity of market concentration using instrumental variables (IV) technique. The findings suggest that greater hospital concentration raises prices, whereas greater insurer concentration depresses prices. A hypothetical merger between two of five equally sized hospitals is estimated to increase hospital prices by about 9 percent (p costs. © Published 2017. This article is a U.S. Government work and is in the public domain in the USA.

A Study of Demand Response Effect of Thermal Storage Air-Conditioning Systems in Consideration of Electricity Market Prices

Science.gov (United States)

Omagari, Yuko; Sugihara, Hideharu; Tsuji, Kiichiro

This paper evaluates the economic impact of the introduction of customer-owned Thermal Storage Air-conditioning (TSA) systems, in an electricity market, from the viewpoint of the load service entity. We perform simulations on the condition that several thousand customers install TSA systems and shift peak demand in an electricity market by one percent. Our numerical results indicate that the purchase cost of the LSE was reduced through load management of customers with TSA systems. The introduction of TSA systems also reduced the volatility of market clearing price and reduced the whole-trade cost in an electricity market.

Reducing domestic heating demand: Managing the impact of behavior-changing feedback devices via marketing.

Science.gov (United States)

Jensen, Thorben; Chappin, Émile J L

2017-07-15

Feedback devices can be used to inform households about their energy-consumption behavior. This may persuade them to practice energy conservation. The use of feedback devices can also-via word of mouth-spread among households and thereby support the spread of the incentivized behavior, e.g. energy-efficient heating behavior. This study investigates how to manage the impact of these environmental innovations via marketing. Marketing activities can support the diffusion of devices. This study aims to identify the most effective strategies of marketing feedback devices. We did this by adapting an agent-based model to simulate the roll-out of a novel feedback technology and heating behavior within households in a virtual city. The most promising marketing strategies were simulated and their impacts were analyzed. We found it particularly effective to lend out feedback devices to consumers, followed by leveraging the social influence of well-connected individuals, and giving away the first few feedback devices for free. Making households aware of the possibility of purchasing feedback devices was found to be least effective. However, making households aware proved to be most cost-efficient. This study shows that actively managing the roll-out of feedback devices can increase their impacts on energy-conservation both effectively and cost-efficiently. Copyright © 2017 Elsevier Ltd. All rights reserved.

A Note on the Analysis of Time Cost by Difference of Transaction System in the Agricultural Wholesale Market of Korea

OpenAIRE

Yoon-Doo Kim; Seok Yoon

2012-01-01

Problem statement: The purpose of this study is to prove objectively that the market-wholesaler system, introduced to agricultural wholesale market in Korea for the first time, has better operational efficiency than the existing auction system. From an analytical viewpoint, we estimated the time value of two transaction systems at the agricultural wholesale market using the calculation methods of the congestion cost and the accumulation cost, and estimated the operational efficiencies divided...

Transaction costs, externalities and information technology in health care.

Science.gov (United States)

Ferguson, B; Keen, J

1996-01-01

This paper discusses some of the economic issues which underpin the rationale for investment in information and communications technologies (ICTs). Information imperfections lead to significant transaction costs (search, negotiating and monitoring) which in turn confer a negative externality on parties involved in exchange. This divergence in private and social costs leads to a degree of resource misallocation (efficiency loss) which, uncorrected, results in a sub-optimal outcome. Traditional solutions to this problem are to rely upon direct government action to reduce the costs of transacting between market agents, or to employ tax/subsidy measures and other legislative action to achieve the desired market outcome. Three key policy questions are raised in the context of the NHS purchaser/provider relationship. Firstly, what is the optimum level of transaction costs; secondly, can ICTs assist in lowering the level of transaction costs to the optimum level; thirdly, who should bear the investment cost in reducing the level of transaction costs? The issue of property rights in different information systems is discussed and raises interesting policy questions about how much investment should be undertaken centrally rather than devolved to a more local level. In some ways this economic framework offers a post hoc justification of why different ICT systems have been introduced at various levels of the NHS. Essentially this reduces to the problem of externalities: providing good information confers a positive externality: not providing relevant, timely and accurate information confers a negative externality, by increasing further the level of transaction costs. The crucial role which ICT systems can play lies in attempting to reduce the level of transaction costs and driving the market towards what Dahlman has described as the transaction-cost-constrained equilibrium.

Integral Cost-Benefit Analysis of Maglev Rail Projects Under Market Imperfections

Directory of Open Access Journals (Sweden)

J. Paul Elhorst

2008-07-01

Full Text Available This article evaluates a new mode of high speed ground transportation, the magnetic levitation rail system (Maglev. The outcomes of this evaluation provide policy information on the interregional redistribution of employment and population and the national welfare improvement of two Dutch urban-conglomeration and two Dutch core-periphery projects. This article also compares the results of an integral cost- benefit analysis with those of a conventional cost-benefit analysis and concludes that the additional economic benefits due to market imperfections vary from –1% to +38% of the direct transport benefits, depending on the type of regions connected and the general condition of the economy.

Reducing the Cost of Grid Extension for Rural Electrification

OpenAIRE

NRECA International, Ltd.

2000-01-01

This study first reviews the cost of grid extension in a number of countries. It then identifies ways to reduce costs by examining how they are affected by a variety of factors. An electricity supply system may be divided into two discrete components: the grid extension and the low-voltage distribution system. This study will focus on the first of these two components, the cost of grid ext...

A two-stage value chain model for vegetable marketing chain efficiency evaluation: A transaction cost approach

OpenAIRE

Lu Hualiang

2006-01-01

We applied a two-stage value chain model to investigate the effects of input application and occasional transaction costs on vegetable marketing chain efficiencies with a farm household-level data set. In the first stage, the production efficiencies with the combination of resource endowments, capital and managerial inputs, and production techniques were evaluated; then at the second stage, the marketing technical efficiencies were determined under the marketing value of the vegetables for th...

Reduced cost and improved figure of sapphire optical components

Science.gov (United States)

Walters, Mark; Bartlett, Kevin; Brophy, Matthew R.; DeGroote Nelson, Jessica; Medicus, Kate

2015-10-01

Sapphire presents many challenges to optical manufacturers due to its high hardness and anisotropic properties. Long lead times and high prices are the typical result of such challenges. The cost of even a simple 'grind and shine' process can be prohibitive. The high precision surfaces required by optical sensor applications further exacerbate the challenge of processing sapphire thereby increasing cost further. Optimax has demonstrated a production process for such windows that delivers over 50% time reduction as compared to traditional manufacturing processes for sapphire, while producing windows with less than 1/5 wave rms figure error. Optimax's sapphire production process achieves significant improvement in cost by implementation of a controlled grinding process to present the best possible surface to the polishing equipment. Following the grinding process is a polishing process taking advantage of chemical interactions between slurry and substrate to deliver excellent removal rates and surface finish. Through experiments, the mechanics of the polishing process were also optimized to produce excellent optical figure. In addition to reducing the cost of producing large sapphire sensor windows, the grinding and polishing technology Optimax has developed aids in producing spherical sapphire components to better figure quality. In addition to reducing the cost of producing large sapphire sensor windows, the grinding and polishing technology Optimax has developed aids in producing spherical sapphire components to better figure quality. Through specially developed polishing slurries, the peak-to-valley figure error of spherical sapphire parts is reduced by over 80%.

Institutions in European and Asian energy markets: A methodological overview

International Nuclear Information System (INIS)

Aalto, Pami

2014-01-01

This article introduces a methodological framework to study institutions in European and Asian energy markets with a comparative case study on the EU and east Asia. A distinction is made between informal and three types of formal institutions; and their transaction cost reducing, order creating and ecological/climatic functions. The operation of energy markets is explained through the structure of institutions, their types and functions. It is found that order-creating institutions guarantee enough stability, (mutual) trust and solidarity among EU Member States to support the competitive markets institution and supranational formal institutions as the underpinnings of trade in the internal energy market, which nevertheless retains some corporatist features. In the east Asian markets the nature of order-creating institutions sovereignty, energy diplomacy and great power management prevents the emergence of supranational formal institutions and a shared idea of trade. The prevailing structure has a large number of sub-regional organisations with overlapping tasks and few powers. In both markets the functions of institutions signify more than their number; transaction cost reducing institutions are dependent on order-creating institutions, while both of these functions are better realised on the regional level than ecological/climatic functions; ultimately informal institutions are most influential. - Highlights: • Institutions include informal types and three formal types. • The functions of institutions relate to transaction costs, order and ecology. • Transaction cost reduction depends on order creating institutions. • Ecological functions are the most difficult to realise regionally. • Informal institutions are most influential in the EU and east Asian markets

Economics of mycotoxins: evaluating costs to society and cost-effectiveness of interventions.

Science.gov (United States)

2012-01-01

The economic impacts of mycotoxins to human society can be thought of in two ways: (i) the direct market costs associated with lost trade or reduced revenues due to contaminated food or feed, and (ii) the human health losses from adverse effects associated with mycotoxin consumption. Losses related to markets occur within systems in which mycotoxins are being monitored in the food and feed supply. Food that has mycotoxin levels above a particular maximum allowable level is either rejected outright for sale or sold at a lower price for a different use. Such transactions can take place at local levels or at the level of trade among countries. Sometimes this can result in heavy economic losses for food producers, but the benefit of such monitoring systems is a lower risk of mycotoxins in the food supply. Losses related to health occur when mycotoxins are present in food at levels that can cause illness. In developed countries, such losses are often measured in terms of cost of illness; around the world, such losses are more frequently measured in terms of disability-adjusted life years (DALYs). It is also useful to assess the economics of interventions to reduce mycotoxins and their attendant health effects; the relative effectiveness of public health interventions can be assessed by estimating quality-adjusted life years (QALYs) associated with each intervention. Cost-effectiveness assessment can be conducted to compare the cost of implementing the intervention with the resulting benefits, in terms of either improved markets or improved human health. Aside from cost-effectiveness, however, it is also important to assess the technical feasibility of interventions, particularly in low-income countries, where funds and infrastructures are limited.

Implementing reduced-risk integrated pest management in fresh-market cabbage: improved net returns via scouting and timing of effective control.

Science.gov (United States)

Burkness, Eric C; Hutchison, W D

2008-04-01

During 1998-2001, field studies were done to assess the efficacy of an integrated pest management (IPM) program using an action threshold and "reduced-risk" insecticides. The IPM program was compared with a conventional grower-based program. Program performance was evaluated based on management of Trichoplusia ni (Hiibner), Pieris (=Artogeia) rapae (L.), and Plutella xylostella (L.), as well as the economic impact of each program on net returns. The action threshold used in the IPM program consisted of 10% plants infested with T. ni larvae, based on previous small-plot experiment station trials. In all years of the study, the IPM program resulted in significantly lower percentages of plants infested than the conventional program or untreated check. The mean reduction in insecticide applications for the IPM program compared with the conventional program was 23.5%, whereas, on average, the costs of the IPM program were 46.0% higher than the conventional program. Pest reduction in the IPM program resulted in an average of 10.5% higher marketable yields than the conventional program. Percentages of marketable heads in the IPM program ranged from 82 to 99% and from 63 to 96% in the conventional program. Mean net returns for the IPM program exceeded the conventional program by $984.20/ha. These results indicated that the IPM program reduced insecticide use overall, even though costs of the IPM program, with either spinosad or indoxacarb, were sometimes higher. Overall, net returns of the IPM program were higher due to active pest scouting, improved application timing, and increases in marketable yield. Given the potential decrease in insecticide applications and increases in net profit resulting from this IPM program, additional analyses should be conducted to quantify the economic risk, or consistency of the results, to fully evaluate the benefits of the IPM program compared with a conventional program.

Critical success factors in industrial marketing supply chain management

Directory of Open Access Journals (Sweden)

Naser Azad

2012-10-01

Full Text Available Implementation of better marketing strategies in industry plays an important role in increasing sales and profitability of industrial part suppliers. Understanding the weakness in each part of supply chain helps reduce different cost component and increases profitability. In this paper, we present an empirical study to find important factors influencing marketing strategies based on factor analysis. The study designs and distributes a questionnaire consists of 64 questions. The proposed study uses Skewness analysis to reduce the factors into 44 items and reports 8 important factors including business environment, communication chain technology, good organizational relationship, leadership cost strategy, performance risk, ecommerce strategy, encouraging strategy and consistency in organizational performance.

Least cost 100% renewable electricity scenarios in the Australian National Electricity Market

International Nuclear Information System (INIS)

Elliston, Ben; MacGill, Iain; Diesendorf, Mark

2013-01-01

Least cost options are presented for supplying the Australian National Electricity Market (NEM) with 100% renewable electricity using wind, photovoltaics, concentrating solar thermal (CST) with storage, hydroelectricity and biofuelled gas turbines. We use a genetic algorithm and an existing simulation tool to identify the lowest cost (investment and operating) scenarios of renewable technologies and locations for NEM regional hourly demand and observed weather in 2010 using projected technology costs for 2030. These scenarios maintain the NEM reliability standard, limit hydroelectricity generation to available rainfall, and limit bioenergy consumption. The lowest cost scenarios are dominated by wind power, with smaller contributions from photovoltaics and dispatchable generation: CST, hydro and gas turbines. The annual cost of a simplified transmission network to balance supply and demand across NEM regions is a small proportion of the annual cost of the generating system. Annual costs are compared with a scenario where fossil fuelled power stations in the NEM today are replaced with modern fossil substitutes at projected 2030 costs, and a carbon price is paid on all emissions. At moderate carbon prices, which appear required to address climate change, 100% renewable electricity would be cheaper on an annual basis than the replacement scenario

Hospital cost and quality performance in relation to market forces: an examination of U.S. community hospitals in the "post-managed care era".

Science.gov (United States)

Jiang, H Joanna; Friedman, Bernard; Jiang, Shenyi

2013-03-01

Managed care substantially transformed the U.S. healthcare sector in the last two decades of the twentieth century, injecting price competition among hospitals for the first time in history. However, total HMO enrollment has declined since 2000. This study addresses whether managed care and hospital competition continued to show positive effects on hospital cost and quality performance in the "post-managed care era." Using data for 1,521 urban hospitals drawn from the Healthcare Cost and Utilization Project, we examined hospital cost per stay and mortality rate in relation to HMO penetration and hospital competition between 2001 and 2005, controlling for patient, hospital, and other market characteristics. Regression analyses were employed to examine both cross-sectional and longitudinal variation in hospital performance. We found that in markets with high HMO penetration, increase in hospital competition over time was associated with decrease in mortality but no change in cost. In markets without high HMO penetration, increase in hospital competition was associated with increase in cost but no change in mortality. Overall, hospitals in high HMO penetration markets consistently showed lower average costs, and hospitals in markets with high hospital competition consistently showed lower mortality rates. Hospitals in markets with high HMO penetration also showed lower mortality rates in 2005 with no such difference found in 2001. Our findings suggest that while managed care may have lost its strength in slowing hospital cost growth, differences in average hospital cost associated with different levels of HMO penetration across markets still persist. Furthermore, these health plans appear to put quality of care on a higher priority than before.

Impacts of government and market on firm's efforts to reduce pollution

OpenAIRE

Kim, Bowon; Sim, Jeong Eun

2015-01-01

We examine how the government and the market affect firm’s pollution abatement efforts, i.e. firm’s efforts to reduce its pollution emission. The way for the government to control firm’s pollution is to impose penalty, whereas the consumers (the market) make their purchasing decision by taking into account the pollution, i.e. the demand is affected by the stock of pollution. In effect, we consider two forces, government penalty and consumer’s sensitivity to pollution, as primary factors to co...

A smart market for nutrient credit trading to incentivize wetland construction

Science.gov (United States)

Raffensperger, John F.; Prabodanie, R. A. Ranga; Kostel, Jill A.

2017-03-01

Nutrient trading and constructed wetlands are widely discussed solutions to reduce nutrient pollution. Nutrient markets usually include agricultural nonpoint sources and municipal and industrial point sources, but these markets rarely include investors who construct wetlands to sell nutrient reduction credits. We propose a new market design for trading nutrient credits, with both point source and non-point source traders, explicitly incorporating the option of landowners to build nutrient removal wetlands. The proposed trading program is designed as a smart market with centralized clearing, done with an optimization. The market design addresses the varying impacts of runoff over space and time, and the lumpiness of wetland investments. We simulated the market for the Big Bureau Creek watershed in north-central Illinois. We found that the proposed smart market would incentivize wetland construction by assuring reasonable payments for the ecosystem services provided. The proposed market mechanism selects wetland locations strategically taking into account both the cost and nutrient removal efficiencies. The centralized market produces locational prices that would incentivize farmers to reduce nutrients, which is voluntary. As we illustrate, wetland builders' participation in nutrient trading would enable the point sources and environmental organizations to buy low cost nutrient credits.

Adjustment in property space markets: taking long-term leases and transaction costs seriously

NARCIS (Netherlands)

Englund, P.; Gunnelin, Å.; Hendershott, P.H.; Söderberg, B.

2008-01-01

Markets for property space adjust only gradually because tenants and landlords are constrained by long-term leases and transaction and information costs. Not only do rents adjust slowly, but space occupancy, which depends on historical rents, often differs from demand at current rent. This creates

Strategies Used by Adults to Reduce Their Prescription Drug Costs

Science.gov (United States)

... data from the 2011 National Health Interview Survey (NHIS). Keywords: National Health Interview Survey, alternative therapies, medication ... to cost ( 9 ) that are not measured in NHIS. Definitions Strategies for reducing prescription drug costs : Based ...

Regulatory intervention on the dynamic European gas market. Neoclassical economics or transaction cost economics?

International Nuclear Information System (INIS)

Spanjer, Aldo R.

2009-01-01

Shifts at the international gas market indicate that the transaction cost perspective provides better underpinnings for European gas regulation than the current neoclassical perspective. Three implications are that policymakers should: (1) allow alternative coordination measures to complement market exchange; (2) recognize that less than perfect competition outcomes may be optimal and (3) be more reticent in prescribing interventionist measures. Finally, the analysis provides the foundations for the empirical research required to complement this paper's theoretical approach. (author)

Market value calculation and the solution of circularity between value and the weighted average cost of capital WACC

Directory of Open Access Journals (Sweden)

Ignacio Vélez-Pareja

2009-12-01

Full Text Available Most finance textbooks present the Weighted Average Cost of Capital (WACC calculation as: WACC = Kd×(1-T×D% + Ke×E%, where Kd is the cost of debt before taxes, T is the tax rate, D% is the percentage of debt on total value, Ke is the cost of equity and E% is the percentage of equity on total value. All of them precise (but not with enough emphasis that the values to calculate D% y E% are market values. Although they devote special space and thought to calculate Kd and Ke, little effort is made to the correct calculation of market values. This means that there are several points that are not sufficiently dealt with: Market values, location in time, occurrence of tax payments, WACC changes in time and the circularity in calculating WACC. The purpose of this note is to clear up these ideas, solve the circularity problem and emphasize in some ideas that usually are looked over. Also, some suggestions are presented on how to calculate, or estimate, the equity cost of capital.

The impact of power market structure on the pass-through of CO2 emissions trading costs to electricity prices. A theoretical approach

International Nuclear Information System (INIS)

Sijm, J.; Chen, Yihsu; Hobbs, B.F.

2009-06-01

This paper analyses the impact of power market structure on the pass-through rate (PTR) of CO2 emissions trading costs on electricity prices from a theoretical point of view, including graphical illustrations and mathematical proofs. Market structure refers in particular to the number of firms active in the market as well as to the shape of the power demand and supply curves. In addition, it analyses the impact of other power market related factors on the PTR of carbon costs to electricity prices, notably the impact of ET-induced changes in the merit order of power generation technologies or the impact of pursuing other market strategies besides maximising generators' profits, such as maximising market shares or sales revenues of power companies. It shows that each of these factors can have a significant impact on the rate of passing-through carbon costs to electricity prices

The impact of power market structure on the pass-through of CO2 emissions trading costs to electricity prices. A theoretical approach

Energy Technology Data Exchange (ETDEWEB)

Sijm, J. [ECN Policy Studies, Petten (Netherlands); Chen, Yihsu [Merced School of Engineering, University of California, Merced, CA (United States); Hobbs, B.F. [Department of Geography and Environmental Engineering, Johns Hopkins University, Baltimore, Maryland (United States)

2009-06-15

This paper analyses the impact of power market structure on the pass-through rate (PTR) of CO2 emissions trading costs on electricity prices from a theoretical point of view, including graphical illustrations and mathematical proofs. Market structure refers in particular to the number of firms active in the market as well as to the shape of the power demand and supply curves. In addition, it analyses the impact of other power market related factors on the PTR of carbon costs to electricity prices, notably the impact of ET-induced changes in the merit order of power generation technologies or the impact of pursuing other market strategies besides maximising generators' profits, such as maximising market shares or sales revenues of power companies. It shows that each of these factors can have a significant impact on the rate of passing-through carbon costs to electricity prices.

Market modeling for assessment of demand side programs using the marginal cost

International Nuclear Information System (INIS)

Papastamatiou, Panagiotis; Psarras, John

2000-01-01

Demand side management is nowadays considered as a functional step in the energy planning process. The criteria proposed for the assessment of the demand side programs (DSPs) are usually based on the balance between the marginal supply cost and the mean DSP cost. These criteria could not support the allotting of the invested capital to incentives for the consumers and advertising. This paper presents a methodology to support the utility planning at this point with more reliability. It proposes the expansion of the assessment criteria with the use of the marginal cost of the DSP. For the calculation of the DSP marginal cost, a dynamic model is developed and it is used for the simulation of the penetration of a DS Program. Using the 'least-cost' criterion as the decision rule for the simulation, the planner has a distribution of the available investment capital throughout the whole planning period. The use of the 'most-value' criterion supports the separation of the invested capital between incentives for the consumers and supportive expenses, e.g. advertising, marketing cost, etc. (Author)

Financial development and the cost of equity capital: Evidence from China

Directory of Open Access Journals (Sweden)

Jeong-Bon Kim

2015-12-01

Full Text Available This study examines the relation between province-level financial development and the cost of equity in China. Our main findings are that (1 stock market development reduces the cost of equity in general, but the effect diminishes significantly in state-owned enterprises (SOEs and firms with high growth potential or innovation intensity and (2 banking development only marginally lowers the cost of equity, but the effect is stronger in non-SOEs. Further analysis reveals that stock market development substitutes for such institutional factors as accounting quality, law enforcement, stock market integration and the split-share structure reform in lowering the cost of equity. We also find that lack of banking competition and banking marketization and under-development of the non-state economy partially account for the weak effect of banking development on the cost of equity.

Are the Costs of Reducing Greenhouse Gases from Passenger Vehicles Negative?

OpenAIRE

Parry, Ian W.H.

2006-01-01

Energy models suggest that the cost of reducing carbon emissions from the transportation sector is high relative to other sectors, such as electricity generation. However, this paper shows that taxes to reduce passenger vehicle emissions produce large net benefits, rather than costs, when account is taken of (a) their impact on reducing non-carbon externalities from passenger vehicle use, and (b) interactions with the broader fiscal system. Both of these considerations also strengthen the cas...

Marketing Professors' Perspectives on the Cost of College Textbooks: A Pilot Study

Science.gov (United States)

Silver, Lawrence S.; Stevens, Robert E.; Clow, Kenneth E.

2012-01-01

Textbooks are an integral component of the higher education process. However, a great deal of concern about the high costs of college textbooks has been expressed by those inside and outside of higher education. The authors focus on the results of a pilot study of a survey of marketing professors' criteria and use of textbooks and their reactions…

COST ANALYSIS OF ALTERNATIVE COMPUTERIZED SYSTEMS FOR THE MARKETING AND DISTRIBUTION OF MULTIPLE FOOD COMMODITIES

OpenAIRE

Epperson, James E.; Helmreich, D.P.; Moon, Leonard C.; Carley, Dale H.; Huang, Chung L.; Fletcher, Stanley M.

1981-01-01

The authors make cost comparisons among alternative computerized marketing systems. The systems described could encompass any number of commodities and stages of distribution involving cash and/or futures transactions.

Switch on the competition. Causes, consequences and policy implications of consumer switching costs

International Nuclear Information System (INIS)

Pomp, M.; Shestalova, V.; Rangel, L.

2005-09-01

The success or failure of reforms aimed at liberalising markets depends to an important degree on consumer behaviour. If consumers do not base their choices on differences in prices and quality, competition between firms may be weak and the benefits of liberalisation to consumers may be small. One possible reason why consumers may respond only weakly to differences in price and quality is high costs of switching to another firm. This report presents a framework for analysing markets with switching costs and applies the framework in two empirical case studies. The first case study analyses the residential energy market, the second focuses on the market for social health insurance. In both markets, there are indications that switching costs are substantial. The report discusses policy options for reducing switching costs and for alleviating the consequences of switching costs

Switch on the competition. Causes, consequences and policy implications of consumer switching costs

Energy Technology Data Exchange (ETDEWEB)

Pomp, M.; Shestalova, V.; Rangel, L.

2005-09-15

The success or failure of reforms aimed at liberalising markets depends to an important degree on consumer behaviour. If consumers do not base their choices on differences in prices and quality, competition between firms may be weak and the benefits of liberalisation to consumers may be small. One possible reason why consumers may respond only weakly to differences in price and quality is high costs of switching to another firm. This report presents a framework for analysing markets with switching costs and applies the framework in two empirical case studies. The first case study analyses the residential energy market, the second focuses on the market for social health insurance. In both markets, there are indications that switching costs are substantial. The report discusses policy options for reducing switching costs and for alleviating the consequences of switching costs.

Market diffusion, technological learning, and cost-benefit dynamics of condensing gas boilers in the Netherlands

International Nuclear Information System (INIS)

Weiss, Martin; Dittmar, Lars; Junginger, Martin; Patel, Martin K.; Blok, Kornelis

2009-01-01

High costs often prevent the market diffusion of novel and efficient energy technologies. Monitoring cost and price decline for these technologies is thus important in order to establish effective energy policy. Here, we present experience curves and cost-benefit analyses for condensing gas boilers produced and sold in the Netherlands between 1981 and 2006. For the most dominant boiler type on the Dutch market, i.e., condensing gas combi boilers, we identify learning rates of 14±1% for the average price and 16±8% for the additional price relative to non-condensing devices. Economies of scale, competitive sourcing of boiler components, and improvements in boiler assembly are among the main drivers behind the observed price decline. The net present value of condensing gas combi boilers shows an overall increasing trend. Purchasing in 2006 a gas boiler of this type instead of a non-condensing device generates a net present value of 970 EUR (Euro) and realizes CO 2 (carbon dioxide) emission savings at negative costs of -120 EUR per tonne CO 2 . We attribute two-thirds of the improvements in the cost-benefit performance of condensing gas combi boilers to technological learning and one-third to a combination of external effects and governmental policies.

Active labor market policies and crime

DEFF Research Database (Denmark)

Tranæs, Torben

2015-01-01

Active labor market programs continue to receive high priority in wealthy countries despite the fact that the benefits appear small relative to the costs. This apparent discrepancy suggests that the programs may have a broader purpose than simply increasing employment—for instance, preventing anti......-social behavior such as crime. Indeed, recent evidence shows that participation in active labor market programs reduces crime among unemployed young men. The existence of such effects could explain why it is the income-redistributing countries with greater income equality that spend the most on active labor...... market programs....

Preferential Market Access, Foreign Aid and Economic Development

DEFF Research Database (Denmark)

Afesorgbor, Sylvanus Kwaku; Abreha, Kaleb Girma

contributed to the economic development of the beneficiary countries. Focusing on the ACP countries over the period 1970-2009, we show that only the EU preferential scheme is effective in promoting exports and that market access plays a significant and economically large role in the development of beneficiary......Several studies highlight that exporters in developing countries face substantial trade costs. To reduce these costs, a few developed countries mainly Canada, the EU, Japan and the USA granted preferential market access to these exporters. We assess whether these preferential accesses have...

Retail margins and the effects of an integrated Nordic end user market for electricity

Energy Technology Data Exchange (ETDEWEB)

Damsgaard, Niclas; Roempoetti, Marie

2007-09-15

impact of these effects on the customers' total price has not been assessed. Furthermore, it is possible that the customers can gain from receiving offers that are more adapted to their needs since a larger market provides better possibilities for market segmentation. The starting point for this project is an assumption that the customers can gain from a common Nordic market through reduced prices (or reduced margins). The question is thus: Can we expect that an integrated Nordic retail market for electricity will decrease the retail margins? In order to answer this question we study the existing retail margins and try to explain the differences in margins. We then analyse and assess whether an integrated Nordic market is likely to affect these margins. The main assumption is than that the reduced margins would come from an increased competitive pressure. In addition to reduced margins, there are several other possible benefits for the customers, e.g. improved competition and services, reduced costs, improvements in regulations and a better functioning wholesale market. This is discussed qualitatively in an adjacent report (Elforsk report 07:48). We find that it is not likely that an integrated Nordic retail market will increase the competitive pressure and in that way substantially reduce the retail margins. There might be some possibilities for reduced margins, at least in some countries and for some customer segments but the margins are generally relatively small. More importantly, the national retail markets are not very concentrated and a Nordic retail market will not dilute market power in the same way as is the case for the wholesale market. The price benefits for the customers can thus be expected to be modest. This conclusion does however not imply that our recommendation is not to pursue an integrated Nordic end-user market for electricity, but only that reduced retail margins probably is not a particularly strong argument for this

The PV market

International Nuclear Information System (INIS)

Hammond, B.

1992-01-01

This paper forecasts the photovoltaic (PV) market growth for the 1990s. Ten years of PV history are reviewed and used to establish market trends in terms of average selling price (ASP) and kilowatts shipped by market segment. The market is segmented into indoor consumer, stand-alone, and grid-connected applications. Indoor consumer presently represents a saturated market and is fairly predictable. The stand-alone market (i.e. not connected to the utility grid) is fairly stable and predictable. The utility PV market however is highly dependent on a number of market factors such as the cost of conventional energy the cost of PV systems utility acceptance of PV and regulatory controls. Government and institutional regulations, environmental issues, and OPEC and Middle East politics will have the greatest impact on the cost of conventional fuels. Private and federal investment in PV technology development could have a significant impact on the cost of PV systems. Forecasts are provided through the year 2000 for indoor consumer stand-alone and utility markets

Security cost analysis in electricity markets based on voltage security criteria and Web-based implementation

International Nuclear Information System (INIS)

Chen, H.

2003-01-01

This paper presents an efficient and transparent method for electricity market operators to analyze transaction security costs and to quantify the correlation between market operation and power system operation. Rescheduling and take-risk strategies were proposed and discussed with reference to transaction impact computations, thermal and voltage limits and voltage stability criteria. The rescheduling method is associated with an iterative generation dispatch or load curtailment approach to minimize the amount of rescheduling. The take-risk method considered operating risks to facilitate transactions. The SATC concept was also proposed to accurately evaluate transmission congestion. The impact of transaction was calculated using a new sensitivity formula to find the most effective rescheduling direction and the most effective cost distribution. A new pricing method called Nodal Congestion Price was also proposed to determine proper price signals. The paper also presents an Artificial Neural Network (ANN) based short term load forecasting method that considers the effect of price on the load. A web-based prototype was implemented to allow all market participants access to the proposed analysis and pricing techniques. Several case studies have validated the effectiveness of the proposed method which would help independent system operators in determining congestion prices, coordinate transactions and make profitable market decisions

Energy-efficient induction motors designing with application of a modified criterion of reduced costs

Directory of Open Access Journals (Sweden)

V.S. Petrushin

2014-03-01

Full Text Available The paper introduces a modified criterion of reduced costs that employs coefficients of operation significance and priority of ohmic loss accounting to allow matching maximum efficiency with minimum reduced costs. Impact of the inflation factor on the criterion of reduced costs is analyzed.

New transmission interconnection reduces consumer costs

Energy Technology Data Exchange (ETDEWEB)

Anon.

2008-09-15

The Central American electric interconnection system (SIEPAC) project will involve the construction of a 1830 km 230 kV transmission system that will link Guatemala, El Salvador, Honduras, Costa Rica, Nicaragua, and Panama. The system is expected to alleviate the region's power shortages and reduce electricity costs for consumers. Costs for the SIEPAC project have been estimated at $370 million. The system will serve approximately 37 million customers, and will include 15 substations. The contract for building the electrical equipment has been awarded to Schweitzer Engineering Laboratories (SEL) who plan to manufacture components at a plant in Mexico. The equipment will include high speed line protection, automation, and control systems. Line current differential systems and satellite-synchronized clocks will also be used. The new transmission system is expected to be fully operational by 2009. 1 fig.

Cost reduction at NSP using IPE results

International Nuclear Information System (INIS)

Asmus, T.J.

1995-01-01

Operating nuclear power generating facilities are under increasing pressure to reduce costs to be able to compete successfully in the competitive electric sales market of today. With the completion of the individual plant evaluations (IPEs), numerous opportunities exist for application of probabilistic risk assessment methodology to reduce production costs. This paper presents two nontraditional methods in which IPE results can be used to help reduce nuclear insurance coverage limits and local property taxes. Significant savings can be realized through use of either of these two methods

International coal trade: the evolution of a global market

International Nuclear Information System (INIS)

1998-01-01

The international coal market has developed over the last 25 years to a mature stable market, largely free of government involvement. It is evident, however, that while the coal market is considered widely to be reliable and mature, there is only limited understanding of the way in which the market operates. Understanding energy market mechanisms is fundamental to encourage confidence in the continuing performance of liberalized markets. This publication seeks to address this need by providing a brief descriptive analysis of the operation of the coal market. The report draws attention to the considerable changes that have been experienced to date in the market, where freely operating market mechanisms have coped well. Further change is on the horizon. Coal demand in Europe is stagnating while growing rapidly in Asia. The once-dominant European market remains the region where price is formed but the Asian market is growing rapidly and becoming more flexible. Increasing competition for market share, low margins, and pressure on utilities to reduce costs as electricity markets are liberalized, will continue to stimulate productivity improvement and may lead to innovations in marketing to cope with stable real prices, high transport, and transaction costs

Transmission cost allocation for an efficient tariff action of electricity in a liberalised market

International Nuclear Information System (INIS)

Bassi, C.; Caldon, R.; Lorenzoni, A.

1999-01-01

The work is focused on the evaluation of the costs of an electricity transmission system operator and on their allocation among the users of the grid in liberalized market. After a recall of the goals of an efficient tariff for transmission, an original method for the cost allocation is proposed called ZI. Based on the marginal cost approach, this method could be the base for setting an efficient transmission tariff that at the same time covers costs and stimulates efficient behaviours. The performances of such an approach have been tested on a real 47 bus grid and ZI tariffs have been compared to the traditional postage stamp ones, highlighting the strong differences between them [it

The market and consumer welfare effects of mid-level ethanol blends in the US fuel market

International Nuclear Information System (INIS)

Gallagher, Paul W.; Sleper, Daniel

2016-01-01

This study examines the prospect that a consumer-driven market could eventually replace the myriad regulations and demand quotas in the US ethanol and gasoline fuel market. Given efficient households that minimize the cost of operating automobiles, recent vehicle technology that improves blended fuel substitution, and typical market conditions of the last five years, blended fuels with 20% ethanol concentration could occupy a volume of 82.2 billion gallons in a 138.3 billion gallon gasoline market. The consumer welfare gain associated with blended fuel is $15.9 billion annually for US consumers, or about $1000 over the life of a vehicle. The ethanol demand associated with a voluntary blended fuel market is 16.4 BGY, slightly more than the conventional component of the Renewable Fuels Standard. It is time to replace the corn RFS with a free market. But an active competition policy in the fuel marketing system may also be required. Intervention for the impending Biomass Ethanol Industry, such as a subsidy or an exemption a carbon tax, may also be in order. - Highlights: • Competiveness of 20% ethanol blends replacing gasoline is examined. • Households can reduce costs by $1000 over vehicle life with ethanol blend. • Blended fuel could gain a 60% share in a voluntary US gasoline market. • US ethanol supply in a voluntary market would match current mandated output.

An overview of a free-market approach to climate change and conservation.

Science.gov (United States)

Sandor, Richard L; Bettelheim, Eric C; Swingland, Ian R

2002-08-15

This paper describes the convergence of environmental and financial markets, reviews the evolution of market-based environmental programmes as an example of the seven-stage evolutionary process witnessed in a variety of markets and summarizes the emergence of greenhouse-gas-mitigation markets and their potential role in advancing land stewardship, biodiversity and other environmental services. Emissions trading has been developed to meet the demand to reduce pollution while avoiding economic disruption. Consistent with the seven-stage pattern of market evolution, the US programme to reduce the damage from acid rain established a standardized environmental commodity, developed 'evidence of ownership' necessary for financial instruments and provided the infrastructure to efficiently transfer title. The success of the system in reducing pollution at low cost has provided a model for other market-based environmental protection initiatives. The demand for cost-effective action to reduce the threat of climate change has initiated the same evolutionary process for markets to reduce greenhouse-gas emissions. Many of the land- and forest-management practices that can capture and store atmospheric CO(2) can also provide other environmental benefits, such as biodiversity preservation and enhanced water quality. The presence of a carbon-trading market will introduce a clear financial value for capture and mitigation of CO(2) emissions, thus introducing a new source of funding for land stewardship and forest rehabilitation. The market is now emerging through a variety of 'bottom-up' developments being undertaken through governmental, multilateral, private-sector and non-governmental-organization initiatives. The extension of markets to other emerging environmental issues is now underway, and the linkages between environmental sustainability and capital markets are being more deeply understood. The early evidence indicates that environmental sustainability can be compatible with

Can the household sector reduce global warming mitigation costs? sensitivity to key parameters in a TIMES techno-economic energy model

International Nuclear Information System (INIS)

Astudillo, Miguel F.; Vaillancourt, Kathleen; Pineau, Pierre-Olivier; Amor, Ben

2017-01-01

Highlights: •An energy system model of Quebec is combined with building simulation software. •Greenhouse gas emission reductions efforts increase annual electricity peak demand. •Alternative heating tech. And building envelopes can effectively reduce peak demand. •Denser urban developments massively reduced costs of global warming mitigation. •CO 2 emissions from hydropower reservoirs are relevant in global warming mitigation. -- Abstract: The transition to low carbon societies may increase peak electricity demand, which can be costly to supply with renewable energy, whose availability is uncertain. Buildings are often the main cause of peak demand, and they are believed to hold a large unrealised energy-efficiency potential. If realised, this potential could considerably mitigate the transition costs to low carbon societies, reducing average and peak electricity demands. We explore this potential in several cost-optimal global warming (GW) mitigation scenarios using a multi-sector TIMES energy system model of the province of Quebec for the period 2011–2050. Heating and conservation measures in the residential sector are modelled using building simulations and parameters’ values from the literature. The intra-annual availability of renewable energy and electricity imports is derived from time-series analysis. Additionally, the influence of key parameters such as the projections of primary energy demand and emissions from reservoir impoundment is evaluated. Finally, we discuss some of the barriers that could hamper the energy transition and how they can be overcome. Results indicate that peak demand would rise by 30% due to GW mitigation efforts, but it can be effectively reduced by interventions in the residential sector. Heat pumps are the most cost effective heating technology, despite their lower efficiencies in cold climates. Better-insulated building envelopes have an important role in new houses, reducing by 14% the GW mitigation costs and

The hidden cost of consensus: How coordinated market economies insulate politics

Directory of Open Access Journals (Sweden)

Lawrence Ezrow

2015-11-01

Full Text Available Previous research has argued that while elections motivate parties to respond to public sentiment, global economic ties reduce this responsiveness by redirecting elites from their electorates and toward market actors. In this study, we extend this work to examine the influence of globalization on party responsiveness across different forms of production-welfare regimes. Coordinated market economies (CMEs accommodate economic interdependence by striking corporatist bargains between political elites, trade union representatives, and organized business. Although these consensual relations facilitate economic stability, they also insulate policymakers from voters. Analyses that pair public opinion and party positions across 18 advanced capitalist democracies from 1977 to 2009 show that while CMEs permit political elites a wide room to maneuver under economic globalization, political parties competing in these organized market economies do not respond to public opinion. This is the case regardless of level of exposure to world markets. In CMEs, party position-taking is uninfluenced by external factors (economic globalization and domestic factors (public opinion alike. By examining the consequences for party behavior, our results raise questions about the virtues of coordinated market capitalism for the health of representative democracy.

Reduced cost mission design using surrogate models

Science.gov (United States)

Feldhacker, Juliana D.; Jones, Brandon A.; Doostan, Alireza; Hampton, Jerrad

2016-01-01

This paper uses surrogate models to reduce the computational cost associated with spacecraft mission design in three-body dynamical systems. Sampling-based least squares regression is used to project the system response onto a set of orthogonal bases, providing a representation of the ΔV required for rendezvous as a reduced-order surrogate model. Models are presented for mid-field rendezvous of spacecraft in orbits in the Earth-Moon circular restricted three-body problem, including a halo orbit about the Earth-Moon L2 libration point (EML-2) and a distant retrograde orbit (DRO) about the Moon. In each case, the initial position of the spacecraft, the time of flight, and the separation between the chaser and the target vehicles are all considered as design inputs. The results show that sample sizes on the order of 102 are sufficient to produce accurate surrogates, with RMS errors reaching 0.2 m/s for the halo orbit and falling below 0.01 m/s for the DRO. A single function call to the resulting surrogate is up to two orders of magnitude faster than computing the same solution using full fidelity propagators. The expansion coefficients solved for in the surrogates are then used to conduct a global sensitivity analysis of the ΔV on each of the input parameters, which identifies the separation between the spacecraft as the primary contributor to the ΔV cost. Finally, the models are demonstrated to be useful for cheap evaluation of the cost function in constrained optimization problems seeking to minimize the ΔV required for rendezvous. These surrogate models show significant advantages for mission design in three-body systems, in terms of both computational cost and capabilities, over traditional Monte Carlo methods.

Does Medicaid managed care market penetration impact provider participation, costs, utilization, and access?

Science.gov (United States)

Minott, Jenny

2010-09-01

Key findings. (1) An increase in commercial plan penetration increased the liklihood [sic] that a physician would accept new Medicaid patients, but this did not significantly impact enrollee costs. (2) An increase in Medicaid-dominant HMO market penetration increased the probability that individuals reported using the ED as their primary source of care.

The NOx Budget. Market-based control of tropospheric ozone in the northeastern United States

International Nuclear Information System (INIS)

Farrell, Alex; Carter, Robert; Raufer, Roger

1999-01-01

The NOx Budget is a marketable emissions allowance system currently being adopted by states in the Northeastern US to reduce tropospheric ozone concentrations to healthful levels in a cost-effective manner. Oxides of nitrogen (NOx) are currently regulated within the existing Command and Control (CAC) framework. The introduction of a market-based approach will further reduce emissions, but will not resolve all regulatory uncertainties. These implementation concerns are identified and discussed. Cost savings and emissions reductions patterns which will arise under several different scenarios are determined through the use of a dynamic, relaxed mixed-integer linear programming model of the NOx allowance market. Like other market-based pollution control programs, the NOx Budget is found to be more efficient than CAC options. Restrictions on the market designed to address perceived flaws are found to be expensive but ineffectual

Reducing Reforestation Costs in Lebanon: Adaptive Field Trials

Directory of Open Access Journals (Sweden)

Garabet (Garo Haroutunian

2017-05-01

Full Text Available Lebanon’s Ministry of Environment initiated a project in 2009 to determine low-cost reforestation techniques for stone pine (Pinus pinea and Lebanon cedar (Cedrus libani for large-scale land rehabilitation activities in the arid Middle East. Irrigation (several techniques vs. no water, planting (8- to 18-month-old seedlings, seeding, and soil preparation methods were evaluated in three sets of adaptive management field trials. The aim was to reduce reforestation costs while still achieving sufficient regeneration. A key result for management was that non-irrigated seed planting of stone pine and possibly of Lebanon cedar showed promise for cost-effective reforestation and could be competitive with seedlings, given correct seed source and planting conditions. Stone pine seeds collected from nearby mother trees and planted without irrigation on sandy soil showed 35% survival for <600 USD/ha; seedlings planted without irrigation cost about 2500 USD/ha and achieved 50–70% survival (costs based on 800 seedlings/ha. Water supplements increased establishment costs over 2 years without concomitant improvements to survival. Future studies should evaluate how soil texture and soil preparation interact with other factors to affect seed germination and survival for each species.

Comparative analysis of crayfish marketing in selected markets of ...

African Journals Online (AJOL)

Comparative analysis of crayfish marketing in selected markets of Akwa Ibom and Abia States, Nigeria. ... It specifically looked at market integration, costs and return, marketing margin, marketing ... EMAIL FULL TEXT EMAIL FULL TEXT

Investing in CenteringPregnancy™ Group Prenatal Care Reduces Newborn Hospitalization Costs.

Science.gov (United States)

Crockett, Amy; Heberlein, Emily C; Glasscock, Leah; Covington-Kolb, Sarah; Shea, Karen; Khan, Imtiaz A

CenteringPregnancy™ group prenatal care is an innovative model with promising evidence of reducing preterm birth. The outpatient costs of offering CenteringPregnancy pose barriers to model adoption. Enhanced provider reimbursement for group prenatal care may improve birth outcomes and generate newborn hospitalization cost savings for insurers. To investigate potential cost savings for investment in CenteringPregnancy, we evaluated the impact on newborn hospital admission costs of a pilot incentive project, where BlueChoice Health Plan South Carolina Medicaid managed care organization paid an obstetric practice offering CenteringPregnancy $175 for each patient who participated in at least five group prenatal care sessions. Using a one to many case-control matching without replacement, each CenteringPregnancy participant was matched retrospectively on propensity score, age, race, and clinical risk factors with five individual care participants. We estimated the odds of newborn hospital admission type (neonatal intensive care unit [NICU] or well-baby admission) for matched CenteringPregnancy and individual care cohorts with four or more visits using multivariate logistic regression. Cost savings were calculated using mean costs per admission type at the delivery hospital. Of the CenteringPregnancy newborns, 3.5% had a NICU admission compared with 12.0% of individual care newborns (p Investing in CenteringPregnancy for 85 patients ($14,875) led to an estimated net savings for the managed care organization of $67,293 in NICU costs. CenteringPregnancy may reduce costs through fewer NICU admissions. Enhanced reimbursement from payers to obstetric practices supporting CenteringPregnancy sustainability may improve birth outcomes and reduce associated NICU costs. Copyright © 2016 Jacobs Institute of Women's Health. Published by Elsevier Inc. All rights reserved.

Spatial analyses of cost efficient measures to reduce N-leaching

DEFF Research Database (Denmark)

Jacobsen, Brian H.; Abildtrup, Jens; Ørum, Jens Erik

(WFD). The analysis shows that the geographical position of the measures are very important in order to achieve the expected nutrient reduction. The current income varies a lot in the River basin and this might influence the choice of cost effective measures to reduce nutrient load. Furthermore a close......The Nitrate Directive has only been implemented satisfactorily in a few EU countries. The Commission have accepted the Danish implementation of the directive based on the Plan for the Aquatic Environment II. The costs of this plan has been calculated to 70 million € or 2,0 € per kg N in reduced...... leaching. The farmers have paid 60% of the costs. The paper then describes an example of a regional analysis covering the River Basin of Ringkøbing Fjord in Denmark, which indicates the type of calculations needed to find the measures and costs in order to comply with parts of the Water Framework Directive...

Optimal electricity market for wind power

International Nuclear Information System (INIS)

Holttinen, H.

2005-01-01

This paper is about electricity market operation when looking from the wind power producers' point of view. The focus in on market time horizons: how many hours there is between the closing and delivering the bids. The case is for the Nordic countries, the Nordpool electricity market and the Danish wind power production. Real data from year 2001 was used to study the benefits of a more flexible market to wind power producer. As a result of reduced regulating market costs from better hourly predictions to the market, wind power producer would gain up to 8% more if the time between market bids and delivery was shortened from the day ahead Elspot market (hourly bids by noon for 12-36 h ahead). An after sales market where surplus or deficit production could be traded 2 h before delivery could benefit the producer almost as much, gaining 7%

A study on measures to reduce production cost of long-running collieries and coal mining mechanization

Energy Technology Data Exchange (ETDEWEB)

NONE

1998-12-01

The reducing coal market has been enforcing the coal industry to make exceptional rationalization and restructuring efforts since the end of the eighties. To the competition from crude oil and natural gas has been added the growing pressure from rising wages and rising production cost as the working get deeper. To improve the competitive position of the remaining 11 coal mines after the rationalization of the industry, studies to improve mining system have been carried out. This report consists of 3 subjects. 1) Designing of the bord and pillar mining method to extract gently inclined seams of the Dogye coal mine. 2) Mechanization of coal cutting by plough. 3) Achievement of the mechanization of coal mining compared to the previous year. (author). 27 refs.

'Normal' markets, market imperfections and energy efficiency

International Nuclear Information System (INIS)

Sanstad, A.H.; Howarth, R.B.

1994-01-01

The conventional distinction between 'economic' and 'engineering' approaches to energy analysis obscures key methodological issues concerning the measurement of the costs and benefits of policies to promote the adoption of energy-efficient technologies. The engineering approach is in fact based upon firm economic foundations: the principle of lifecycle cost minimization that arises directly from the theory of rational investment. Thus, evidence that so-called 'market barriers' impede the adoption of cost-effective energy-efficient technologies implies the existence of market failures as defined in the context of microeconomic theory. A widely held view that the engineering view lacks economic justification, is based on the fallacy that markets are 'normally' efficient. (author)

Economics of Swine Marketing in Kafanchan (Katsit)Market, Jama'a ...

African Journals Online (AJOL)

The Gini coefficient was also high (0.53), indicating gross inequality in size distribution and seller concentration, hence oligopoly. Analyses also showed that the market is vertically integrated. Cost of transportation (N100 / animal) was the highest of the marketing services, representing 50.4%. Total cost of marketing ...

The Cost of Technical Trading Rules in the Forex Market: A Utility-based Evaluation

NARCIS (Netherlands)

H.D.R. Dewachter (Hans); M. Lyrio (Marco)

2003-01-01

textabstractWe compute the opportunity cost for rational risk averse agents of using technical trading rules in the foreign exchange rate market. Our purpose is to investigate whether these rules can be interpreted as near-rational investment strategies for rational investors. We analyze four

Hybrid Storage Market Assessment: A JISEA White Paper

Energy Technology Data Exchange (ETDEWEB)

Ericson, Sean J. [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Rose, Eric [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Jayaswal, Harshit [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Cole, Wesley J. [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Engel-Cox, Jill [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Logan, Jeffery [National Renewable Energy Laboratory (NREL), Golden, CO (United States); McLaren, Joyce A. [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Anderson, Katherine H [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Arent, Douglas J. [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Glassmire, John [HOMER Energy, Boulder, CO (United States); Klawiter, Steffi [HOMER Energy, Boulder, CO (United States); Rajasekaran, Dhiwaakar [HOMER Energy, Boulder, CO (United States)

2017-10-09

This white paper evaluates which markets are best suited for battery storage and storage hybrids and reviews regulations and incentives that support or impede the implementation of standalone storage and battery hybrids. The costs of battery storage technologies have dropped in recent years, resulting in a seven-fold increase in installed capacity over the last decade (1). These technologies offer an attractive rate of return in some locations; however, cost and regulatory barriers still limit the market for storage. Hybridizing a battery (combining the battery with a generator) can in some instances reduce total system costs and increase value compared to separate installations. The fast ramping and dispatchability of a battery can complement the generator to provide services that neither battery nor generator could provide alone. Battery hybrids also benefit from some policy incentives and may be better able to meet market and regulatory requirements.

The real cost of desalted water and how to reduce it further

International Nuclear Information System (INIS)

Nisan, S.; Blank, J.E.; Tusel, G.F.

2007-01-01

Freshwater scarcity on a worldwide level is now a burning problem, widely discussed in media inter-views and in major newspapers. In this context, the majority of the media are underlining the importance of seawater desalination as an attractive and logical alternative source to fight the freshwater scarcity. Unfortunately the majority of all these discussions are providing a totally wrong picture of the real cost of freshwater production from seawater. Figures for desalted water costs from below 0.25 Euro/m 3 to over 0.6 Euro/m 3 for large-scale realisation are frequently quoted. In some media, however, the costs given for desalted water production are too prohibitive for large-scale applications. Many so-called experts are enhancing the confusion with incorrect or in incomplete statements. Even simple considerations, such as water cost ex desalination plant vs. water cost at consumer tap, are neglected. Yet another neglected point is that freshwater of any kind is either highly subsidized or overpriced to finance costs which are not water-related costs. Even in the EU Commission the real cost of seawater desalination is sometimes incorrectly perceived. In principle, the calculation of specific freshwater cost is simple and based on a few clear parameters such as investment cost for a given desalting capacity, energy cost, cost for distribution, amortization period and concept, financing cost, inflation rate, operation and maintenance cost and, last but not least, plant availability and lifetime. A typical example to illustrate the reigning confusion is the primary energy cost. Today, the barrel of crude oil costs in the world market approximately 70 US dollars or more. However, many tenders or BOT projects compare the water and energy cost on a 5 US dollars/barrel level. With this energy cost level and other unrealistic conditions even old-fashioned, low-GOR MSF plant can produce freshwater for a nominal cost of 0.60 Euro/m 3 . With today's world-market prices

The consumers' role in a de-regulated electricity market

International Nuclear Information System (INIS)

Bye, Torstein; Doehl, Oeystein; Halvorsen, Bente; Larsen, Bodil M.; Larsson, Jan; Nesbakken, Runa

2001-01-01

The electricity market is market characterized by large price variations. This may have many causes, such as large variation of demand, large differences in the operating costs of the utilities or large variation in precipitation. Price variations caused by the supply side of the market may be counterbalanced by reducing consumption when the price is high, for example by using other energy sources, or by increasing consumption when the price is low

Integrated marketing communications:pathway for enhancing client-costomer relationships

OpenAIRE

Kehinde Oladele Joseph

2010-01-01

The strategic coordination of marketing communication tools is vital and highly crucial for every result driven organization today. Companies must be able to deliver the right message to their target audience in order to elicit the right results. The objectives of this paper amongst others are to: (i) ascertain whether proper implementation of Integrated Marketing Communications can help reduce the cost of marketing communication or promotional budget. (ii) Establish whether the use of integr...

Cost-optimal power system extension under flow-based market coupling

Energy Technology Data Exchange (ETDEWEB)

Hagspiel, Simeon; Jaegemann, Cosima; Lindenberger, Dietmar [Koeln Univ. (Germany). Energiewirtschaftliches Inst.; Brown, Tom; Cherevatskiy, Stanislav; Troester, Eckehard [Energynautics GmbH, Langen (Germany)

2013-05-15

Electricity market models, implemented as dynamic programming problems, have been applied widely to identify possible pathways towards a cost-optimal and low carbon electricity system. However, the joint optimization of generation and transmission remains challenging, mainly due to the fact that different characteristics and rules apply to commercial and physical exchanges of electricity in meshed networks. This paper presents a methodology that allows to optimize power generation and transmission infrastructures jointly through an iterative approach based on power transfer distribution factors (PTDFs). As PTDFs are linear representations of the physical load flow equations, they can be implemented in a linear programming environment suitable for large scale problems. The algorithm iteratively updates PTDFs when grid infrastructures are modified due to cost-optimal extension and thus yields an optimal solution with a consistent representation of physical load flows. The method is first demonstrated on a simplified three-node model where it is found to be robust and convergent. It is then applied to the European power system in order to find its cost-optimal development under the prescription of strongly decreasing CO{sub 2} emissions until 2050.

Comparing surgical trays with redundant instruments with trays with reduced instruments: a cost analysis.

Science.gov (United States)

John-Baptiste, A; Sowerby, L J; Chin, C J; Martin, J; Rotenberg, B W

2016-01-01

When prearranged standard surgical trays contain instruments that are repeatedly unused, the redundancy can result in unnecessary health care costs. Our objective was to estimate potential savings by performing an economic evaluation comparing the cost of surgical trays with redundant instruments with surgical trays with reduced instruments ("reduced trays"). We performed a cost-analysis from the hospital perspective over a 1-year period. Using a mathematical model, we compared the direct costs of trays containing redundant instruments to reduced trays for 5 otolaryngology procedures. We incorporated data from several sources including local hospital data on surgical volume, the number of instruments on redundant and reduced trays, wages of personnel and time required to pack instruments. From the literature, we incorporated instrument depreciation costs and the time required to decontaminate an instrument. We performed 1-way sensitivity analyses on all variables, including surgical volume. Costs were estimated in 2013 Canadian dollars. The cost of redundant trays was $21 806 and the cost of reduced trays was $8803, for a 1-year cost saving of $13 003. In sensitivity analyses, cost savings ranged from $3262 to $21 395, based on the surgical volume at the institution. Variation in surgical volume resulted in a wider range of estimates, with a minimum of $3253 for low-volume to a maximum of $52 012 for high-volume institutions. Our study suggests moderate savings may be achieved by reducing surgical tray redundancy and, if applied to other surgical specialties, may result in savings to Canadian health care systems.

Minimising the expectation value of the procurement cost in electricity markets based on the prediction error of energy consumption

OpenAIRE

Yamaguchi, Naoya; Hori, Maiya; Ideguchi, Yoshinari

2018-01-01

In this paper, we formulate a method for minimising the expectation value of the procurement cost of electricity in two popular spot markets: {\\it day-ahead} and {\\it intra-day}, under the assumption that expectation value of unit prices and the distributions of prediction errors for the electricity demand traded in two markets are known. The expectation value of the total electricity cost is minimised over two parameters that change the amounts of electricity. Two parameters depend only on t...

Reducing patient drug acquisition costs can lower diabetes health claims.

Science.gov (United States)

Mahoney, John J

2005-08-01

Concerned about rising prevalence and costs of diabetes among its employees, Pitney Bowes Inc recently revamped its drug benefit design to synergize with ongoing efforts in its disease management and patient education programs. Specifically, based on a predictive model showing that low medication adherence was linked to subsequent increases in healthcare costs in patients with diabetes, the company shifted all diabetes drugs and devices from tier 2 or 3 formulary status to tier 1. The rationale was that reducing patient out-of-pocket costs would eliminate financial barriers to preventive care, and thereby increase adherence, reduce costly complications, and slow the overall rate of rising healthcare costs. This single change in pharmaceutical benefit design immediately made critical brand-name drugs available to most Pitney Bowes employees and their covered dependents for 10% coinsurance, the same coinsurance level as for generic drugs, versus the previous cost share of 25% to 50%. After 2 to 3 years, preliminary results in plan participants with diabetes indicate that medication possession rates have increased significantly, use of fixed-combination drugs has increased (possibly related to easier adherence), average total pharmacy costs have decreased by 7%, and emergency department visits have decreased by 26%. Hospital admission rates, although increasing slightly, remain below the demographically adjusted Medstat benchmark. Overall direct healthcare costs per plan participant with diabetes decreased by 6%. In addition, the rate of increase in overall per-plan-participant health costs at Pitney Bowes has slowed markedly, with net per-plan-participant costs in 2003 at about 4000 dollars per year versus 6500 dollars for the industry benchmark. This recent moderation in overall corporate health costs may be related to these strategic changes in drug benefit design for diabetes, asthma, and hypertension and also to ongoing enhancements in the company's disease

Impacts of government and market on firm’s efforts to reduce pollution

Directory of Open Access Journals (Sweden)

Bowon Kim

2015-12-01

Full Text Available We examine how the government and the market affect firm’s pollution abatement efforts, i.e. firm’s efforts to reduce its pollution emission. The way for the government to control firm’s pollution is to impose penalty, whereas the consumers (the market make their purchasing decision by taking into account the pollution, i.e. the demand is affected by the stock of pollution. In effect, we consider two forces, government penalty and consumer’s sensitivity to pollution, as primary factors to control firm’s pollution and analyze their interaction in relation to the firm’s pollution reduction efforts. The analysis suggests as follows. The government penalty and the consumer’s awareness are substitutes either (1 when the market size is relatively large or (2 when the market is relatively small, but the government penalty is relatively heavy. On the contrary, the two factors are complements when the market size is relatively small and the government penalty is relatively light. We discuss managerial and economic implications of the analysis results.

Reducing emissions from deforestation and degradation: What contribution from carbon markets?

OpenAIRE

Bellassen , Valentin; Crassous , R.; Dietzsch , L.; Schwartzman , S.

2008-01-01

Tropical deforestation is responsible for 15-20% of total man-made emissions of greenhouse gases. In December 2007, at the international conference of Bali, the United Nations acknowledged that a viable solution to climate change must include a mechanism to limit deforestation and forest degradation. Today, the most widely used economic tool to reduce emissions is carbon markets: caps on emitters, and trade allowed between emitters and reducers, drive a price signal on carbon and provide ince...

Application of Target Costing method in the Hospitality Industry

Directory of Open Access Journals (Sweden)

Andor Pajrok

2014-12-01

Full Text Available Traditional approaches to managing costs are based on the costs that are the result of existing capabilities and resources in the company. Adding to these costs a specified margin or profit, leads to the sales price. If the market is not ready to accept such a selling price, managers need to find opportunities for rationalization and cost reduction. Target cost management begins the process of managing the sales price and the planned profit that the market can accept, and only then is it possible to determine the cost of the product. In the planning phase of the product and the manufacturing process the approach is to finding a method to lower costs and to reduce them as much as possible. The aim this of study is to investigate the application of target (strategy cost accounting methods in the Hospitality Industry.

Waste Management Strategy for Dismantling Waste to Reduce Costs for Power Plant Decommissioning - 13543

Energy Technology Data Exchange (ETDEWEB)

Larsson, Arne; Lidar, Per [Studsvik Nuclear AB, SE-611 82 Nykoeping (Sweden); Bergh, Niklas; Hedin, Gunnar [Westinghouse Electric Sweden AB, Fredholmsgatan 2, SE-721 63, Vaesteraas (Sweden)

2013-07-01

Decommissioning of nuclear power plants generates large volumes of radioactive or potentially radioactive waste. The proper management of the dismantling waste plays an important role for the time needed for the dismantling phase and thus is critical to the decommissioning cost. An efficient and thorough process for inventorying, characterization and categorization of the waste provides a sound basis for the planning process. As part of comprehensive decommissioning studies for Nordic NPPs, Westinghouse has developed the decommissioning inventories that have been used for estimations of the duration of specific work packages and the corresponding costs. As part of creating the design basis for a national repository for decommissioning waste, the total production of different categories of waste packages has also been predicted. Studsvik has developed a risk based concept for categorization and handling of the generated waste using six different categories with a span from extremely small risk for radiological contamination to high level waste. The two companies have recently joined their skills in the area of decommissioning on selected market in a consortium named 'ndcon' to further strengthen the proposed process. Depending on the risk for radiological contamination or the radiological properties and other properties of importance for waste management, treatment routes are proposed with well-defined and proven methods for on-site or off-site treatment, activity determination and conditioning. The system is based on a graded approach philosophy aiming for high confidence and sustainability, aiming for re-use and recycling where found applicable. The objective is to establish a process where all dismantled material has a pre-determined treatment route. These routes should through measurements, categorization, treatment, conditioning, intermediate storage and final disposal be designed to provide a steady, un-disturbed flow of material to avoid

Waste Management Strategy for Dismantling Waste to Reduce Costs for Power Plant Decommissioning - 13543

International Nuclear Information System (INIS)

Larsson, Arne; Lidar, Per; Bergh, Niklas; Hedin, Gunnar

2013-01-01

Decommissioning of nuclear power plants generates large volumes of radioactive or potentially radioactive waste. The proper management of the dismantling waste plays an important role for the time needed for the dismantling phase and thus is critical to the decommissioning cost. An efficient and thorough process for inventorying, characterization and categorization of the waste provides a sound basis for the planning process. As part of comprehensive decommissioning studies for Nordic NPPs, Westinghouse has developed the decommissioning inventories that have been used for estimations of the duration of specific work packages and the corresponding costs. As part of creating the design basis for a national repository for decommissioning waste, the total production of different categories of waste packages has also been predicted. Studsvik has developed a risk based concept for categorization and handling of the generated waste using six different categories with a span from extremely small risk for radiological contamination to high level waste. The two companies have recently joined their skills in the area of decommissioning on selected market in a consortium named 'ndcon' to further strengthen the proposed process. Depending on the risk for radiological contamination or the radiological properties and other properties of importance for waste management, treatment routes are proposed with well-defined and proven methods for on-site or off-site treatment, activity determination and conditioning. The system is based on a graded approach philosophy aiming for high confidence and sustainability, aiming for re-use and recycling where found applicable. The objective is to establish a process where all dismantled material has a pre-determined treatment route. These routes should through measurements, categorization, treatment, conditioning, intermediate storage and final disposal be designed to provide a steady, un-disturbed flow of material to avoid interruptions. Bottle

Norwegian electricity market liberalisation: questions of cost calculation and price definition by grid operators

International Nuclear Information System (INIS)

Wild, J.; Vaterlaus, S.

2002-01-01

This report for the Swiss Federal Office of Energy (SFOE) presents the results of a study carried out on the Norwegian electricity market 10 years after its liberalisation. The similarity of the Norwegian market to the Swiss electricity market is discussed. Similarly to the proposed situation in Switzerland, the liberalisation in Norway foresaw no privatisation of public utilities and a model for the regulation of grid access was introduced. The report describes and comments on the various phases in which the liberalisation occurred and examines the various instruments used, e.g. to ensure that individual grid operators did not make undue profits from their monopoly. The methods used for the monitoring of grid operators' costs are described and the mechanisms involved in the definition of prices for grid services are examined, including measures taken when profits were too high or too low. The report is concluded with a discussion of the conclusions that can be drawn from the Norwegian model for Swiss market opening efforts

Concepts of increasing productivity and reducing the processing cost of machine parts

Directory of Open Access Journals (Sweden)

О. С. Кленов

2017-06-01

Full Text Available The basic conditions to reduce the cost of processing technology and improve productivity through the use of modern cutting tools produced by leading foreign firms producing tools have been appraised from theory in the work. Theoretically, it has been found that an increase in the cost of processing varies according to extremum dependence, passing the minimum point. It is possible to reduce the minimum processing cost due to the increase of productivity using cutting edge tools, characterized by a high capacity for work in high cutting temperatures. The criterion showing the technological price cost minimum is the ratio of the expenditures on workers’ wages to the expenditures on the cutting tools, it being quite specific for various processing conditions. To analyze the possibilities of practical use of the proposed criterion, a complex of experimental researches of the technological prime cost and productivity of the processing with hard alloy cutting tools with wear-resistant coatings produced by the company «Iscar» has been carried out. It has been established that their use makes it possible by more than one half to reduce the labour consumption and overall costs as compared to the hard alloy cutting tools traditionally used in home industry. It has been shown that this effect is achieved by increasing the cutting speed and feed due to increased wear resistance and heat resistance of the «Iscar» company tools. It was established that it is much more possible to achieve low processing cost at milling than at turning. It was stated with regard to all major expenditures including the workers' wages, the cost of the cutting tools, equipment and other costs, allowing more correctly estimate the cost-effectiveness of mechanical processing. Experiments confirmed that the main condition for reducing the processing cost to its minimum value is to increase the processing performance through the use of a heat-resistant and wear-resistant cutting

The Gains from Improved Market Efficiency

DEFF Research Database (Denmark)

Persson, Karl Gunnar; Ejrnæs, Mette

faster, violations of the law of one price become smaller and hence less persistent. There were also significant gains from improved market efficiency but that improvement took place after the information ‘regime’ shifted from pre-telegraphic communication to a regime with swift transmission...... of information in an era which developed a sophisticated commercial press and telegraphic communication. Improved market efficiency probably stimulated trade more than falling transport costs......This paper looks at the gains from improved market efficiency in long-distance grain trade in the second half of the 19th century when violations of the law of one price were reduced due to improved information transmission. Two markets, a major export centre, Chicago, and a major importer...

The costs, benefits, and cost-effectiveness of interventions to reduce maternal morbidity and mortality in Mexico.

Directory of Open Access Journals (Sweden)

Delphine Hu

Full Text Available BACKGROUND: In Mexico, the lifetime risk of dying from maternal causes is 1 in 370 compared to 1 in 2,500 in the U.S. Although national efforts have been made to improve maternal services in the last decade, it is unclear if Millennium Development Goal 5--to reduce maternal mortality by three-quarters by 2015--will be met. METHODOLOGY/PRINCIPAL FINDINGS: We developed an empirically calibrated model that simulates the natural history of pregnancy and pregnancy-related complications in a cohort of 15-year-old women followed over their lifetime. After synthesizing national and sub-national trends in maternal mortality, the model was calibrated to current intervention-specific coverage levels and validated by comparing model-projected life expectancy, total fertility rate, crude birth rate and maternal mortality ratio with Mexico-specific data. Using both published and primary data, we assessed the comparative health and economic outcomes of alternative strategies to reduce maternal morbidity and mortality. A dual approach that increased coverage of family planning by 15%, and assured access to safe abortion for all women desiring elective termination of pregnancy, reduced mortality by 43% and was cost saving compared to current practice. The most effective strategy added a third component, enhanced access to comprehensive emergency obstetric care for at least 90% of women requiring referral. At a national level, this strategy reduced mortality by 75%, cost less than current practice, and had an incremental cost-effectiveness ratio of $300 per DALY relative to the next best strategy. Analyses conducted at the state level yielded similar results. CONCLUSIONS/SIGNIFICANCE: Increasing the provision of family planning and assuring access to safe abortion are feasible, complementary and cost-effective strategies that would provide the greatest benefit within a short-time frame. Incremental improvements in access to high-quality intrapartum and emergency

Reducing the cost of back-contact module technology

Energy Technology Data Exchange (ETDEWEB)

Bennett, I.J.; Eerenstein, W.; Rosca, V. [ECN Solar Energy, P.O. Box 1, 1755 ZG Petten (Netherlands)

2013-07-01

Back-contact modules made using a conductive back-sheet foil have a number of advantages over standard H-pattern modules including a higher power output, compatibility with very thin cells and high throughput, high yield manufacturing. For a conductive back-sheet based module the most cost critical components are the conductive back-sheet and the conductive adhesives used to make the contact between the cells and the conductive back-sheet. In this paper a number of methods for reducing the module materials cost will be presented. Climate chamber testing of low cost foils without isolation coating and without silver contacts demonstrated that this type of foil is reliable in damp-heat, reaching 2000 hours at 85%RH and 85{sup o}C with a loss in fill-factor of less than 2%.

Core designs for the de-regulated market

International Nuclear Information System (INIS)

Almberger, J.; Bernro, R.; Pettersson, H.

1999-01-01

Complete text of publication follows: The electricity market deregulation in the Nordic countries encourages innovations and cost reductions for power production in the Vattenfall reactors. The competition on the electricity market is strong, electricity price reductions dramatic and uncertainties about the future power demand is large. In the fuel area this situation has given increased attention to traditional areas like flexibility in power production, improved core designs, need for margins (improved fuel designs), improved surveillance, decreased lead times. At Vattenfall new fuel designs are already being implemented following the last fuel purchase, for which flexibility and margins, were given high values in the evaluations with the multipurpose task of eliminating fuel related problems and meeting the future market situation. This strategy has given Vattenfall a flying start to meeting the demands of the de-regulated market. What has been added are broad studies undertaken to investigate the various route into the future with respect to finding the most effective strategies for fuel and core design and optimization. In the present paper the Vattenfall priorities for fuel designs and margins are presented in a schematic manner summarizing the results of the last fuel purchase and also presenting the current program for LFAs. Technical limitations, licensing and R and D aspects, with respect to improving the fuel utilization will be mentioned. The main focus in the paper is on the broad study carried out in the PWR core design area. Driven by the relatively low power demand various possibilities for higher production flexibility have been investigated specifically extended coast-down, coast-up and yearly load follow. Further to reduce the costs for fuel consumption improvements in core designs have been studied: improved low leakage loading patterns, low enriched end zones, improved Gd designs etc. Main results and conclusions of the core design studies will

Effectiveness of social norms media marketing in reducing drinking and driving: A statewide campaign.

Science.gov (United States)

Perkins, H Wesley; Linkenbach, Jeffrey W; Lewis, Melissa A; Neighbors, Clayton

2010-10-01

This research evaluated the efficacy of a high-intensity social norms media marketing campaign aimed at correcting normative misperceptions and reducing the prevalence of drinking and driving among 21-to-34-year-olds in Montana. A quasi-experimental design was used, such that regions of Montana were assigned to one of three experimental groups: social norms media marketing campaign, buffer, and control. Four random samples of Montanans between the ages of 21 and 34 were assessed at four time points over 18 months via phone surveys. Findings suggest that the social norms media campaign was successful at exposing the targeted population to social norms messages in the counties within the intervention region. Moreover, results demonstrate the campaign reduced normative misperceptions, increased use of designated drivers, and decreased drinking and driving among those young adults in counties within the intervention region. Social norms media marketing can be effective at changing drinking-related behaviors at the population level. This research provides a model for utilizing social norms media marketing to address other behaviors related to public health. 2010 Elsevier Ltd. All rights reserved.

Effectiveness of social norms media marketing in reducing drinking and driving: A statewide campaign

Science.gov (United States)

Linkenbach, Jeffrey W.; Lewis, Melissa A.; Neighbors, Clayton

2016-01-01

This research evaluated the efficacy of a high-intensity social norms media marketing campaign aimed at correcting normative misperceptions and reducing the prevalence of drinking and driving among 21-to-34-year-olds in Montana. A quasi-experimental design was used, such that regions of Montana were assigned to one of three experimental groups: social norms media marketing campaign, buffer, and control. Four random samples of Montanans between the ages of 21 and 34 were assessed at four time points over 18 months via phone surveys. Findings suggest that the social norms media campaign was successful at exposing the targeted population to social norms messages in the counties within the intervention region. Moreover, results demonstrate the campaign reduced normative misperceptions, increased use of designated drivers, and decreased drinking and driving among those young adults in counties within the intervention region. Social norms media marketing can be effective at changing drinking-related behaviors at the population level. This research provides a model for utilizing social norms media marketing to address other behaviors related to public health. PMID:20619177

Watershed Controls on the Proper Scale of Economic Markets for Pollution Reduction

Science.gov (United States)

Rigby, J.; Doyle, M. W.; Yates, A.

2010-12-01

Markets for tradable discharge permits (TDPs) are an increasingly popular policy instrument for obtaining cost-effective nutrient reduction targets across watersheds. Such markets are also an emerging, dynamic coupling between economic institutions and stream hydrology/biogeochemistry as trading markets become explicit determinants for the spatial distribution of stream nutrient loads. A central problem in any environmental market program is setting the size of the market, as there are distinct trade-offs for large versus small markets. While the overall cost-effectiveness of permit trading increases with the size of the market, the potential for localized and highly damaging nutrient concentrations, or “hotspots”, also increases. Smaller market size reduces the potential for hot spots by dispersing the location of trades, but this may increase the net costs of water quality compliance significantly through both the restriction of possible trading partners and price manipulation by market participants. This project couples a microeconomic model for TDPs (based on possible configurations of mutually exclusive trading zones within the basin) with a semi-distributed water quality model to examine watershed controls on the configuration and scale of such markets. Our results show a wide variation in total annual cost of pollution abatement based on choice of market design -- often with large differences in cost between very similar configurations. This framework is also applied to a 10-member trading program among wastewater treatment plants in the Neuse River, NC, in order to assess (1) the optimum market design for the Upper Neuse basin and (2) how these costs compare with expected costs under alternative market structures (e.g., trading ratio system) and (3) the cost improvements over traditional command-and-control regulatory frameworks. We find that the optimal zone configuration is almost always a lower cost option when compared to a trading ratio scheme and

Use of commercial grade item dedication to reduce procurement costs

International Nuclear Information System (INIS)

Rosch, F.

1995-01-01

In the mid-1980s, the Nuclear Regulatory Industry (NRC) began inspecting utility practices of procuring and dedicating commercial grade items intended for plant safety-related applications. As a result of the industry efforts to address NRC concerns, nuclear utilities have enhanced existing programs and procedures for dedication of commercial grade items. Though these programs were originally enhanced to meet NRC concerns, utilities have discovered that the dedication of commercial grade items can also reduce overall procurement costs. This paper will discuss the enhancement of utility dedication programs and demonstrates how utilities have utilized them to reduce procurement costs

A Summary of: 25 Ways to Reduce the Cost of College

Science.gov (United States)

Center for College Affordability and Productivity (NJ1), 2010

2010-01-01

Almost everyone agrees that colleges have become costly to attend and are a growing burden on society to finance. Rising tuition costs threaten the ability and desire of students to attend college. Are there things that can be done to significantly reduce the cost of college? The answer is an emphatic "yes." The Center for College Affordability…

Offshore windfarm proposal to reduce costs of foundations and installations.

Energy Technology Data Exchange (ETDEWEB)

NONE

2007-09-04

The principle aim of this project is to develop innovative pile insertion, installation vessel pile handling and pile transfer systems that reduce the installed cost per kW of offshore wind turbine foundation installation. The project was to accomplish this by first developing a novel method of handling foundation piles without the use of craneage thereby allowing long piles of 5-6m diameter to be lifted safely in shallow water. This would extend the operating envelope by allowing work to continue without the weather constraints associated with lifting heavy loads by crane. The method would eventually reduce the size of the pile installation barge resulting in reduced installation costs. This part of the project has been satisfactorily completed, resulting in an innovative pile handling technique. Secondly a nonpercussive pile insertion method would be developed suitable for large diameter piles. The targeted aims of this method are as follows: To reduce or negate the need to handle and dispose of large amounts of spoil. To eliminate the need for piling hammers large enough to drive 6m diameter piles. These would be too heavy for the present generation of offshore cranes to lift, and the rental costs exorbitant. The advantages of these aims are: A reduction in the noise pollution produced by all percussive methods of pile driving and in particular large hammers. These noise levels are unacceptable to present and future environmental constraints. Because of the reduced drill spoil being handled compared to an industry standard full face drill, the energy consumption and therefore cost, is also reduced. Owing to the high cost and risk associated with mobilising and operating the equipment necessary for field trials in a marine environment (the cost for mobilising and operating a construction jack-up barge, all backup marine support craft, pile driving hammers and test piles can be several times the available grant funding), it was decided and agreed at an early stage

Risk-based assessment of the cost-efficiency and the effectivity of renewable energy support schemes: Certificate markets versus feed-in tariffs

International Nuclear Information System (INIS)

Fagiani, Riccardo; Barquín, Julián; Hakvoort, Rudi

2013-01-01

The introduction of renewable energy sources in the electricity generation mix has the potential to reduce power sector's emissions and countries' dependence on imported oil. Climate change concerns and highly volatile oil prices have attracted governments' interest and support to sustain investments in renewable energy capacity, and different support policies have been implemented in many countries around the world. This paper analyzes the effects of investors' risk aversion on the performance of support schemes. The analysis compares two policy options, a feed-in tariff mechanism with a certificate market system. Results show that while a tariff mechanism could obtain better results than a certificate market, its performance is strictly dependent on regulator choices. A certificate market instead, permits to obtain the desired level of renewable energy market share with good cost-efficiency as long as investors' risk aversion is moderate. Moreover, discounting future cash flows with higher social discount rates further benefits a certificate system making it preferable to feed-in tariffs. - Highlights: ► Paper analyzes the performance of feed-in tariffs and certificate markets. ► Model simulates the evolution of a power system considering investors' risk aversion. ► Tariffs could obtain better efficiency but also low effectiveness or over-investment. ► Barriers to entrance could result in higher certificates prices. ► Certificate performances benefit from higher social discount rates

Economic evaluation of the anti-stigma social marketing campaign in England 2009-2011.

Science.gov (United States)

Evans-Lacko, Sara; Henderson, Claire; Thornicroft, Graham; McCrone, Paul

2013-04-01

Evidence on the economic impact of social marketing anti-stigma campaigns in relation to people with mental illness is limited. To describe the economic impact of the Time to Change (TTC) anti-stigma social marketing campaign, including the potential effects on the wider economy. Data collected for the evaluation of TTC were combined with the social marketing campaign expenditure data to investigate differences in knowledge, attitudes and behaviour in relation to campaign awareness. To evaluate the return on investment, we applied a decision model that estimated the impact on employment for people with depression. Based on average national social marketing campaign costs, the economic benefits outweighed costs even if the campaign resulted in only 1% more people with depression accessing services and gaining employment if they experienced a health improvement. The cost per person with improved intended behaviour was at most £ 4 if we assume the campaign was responsible for 50% of the change. Costs associated with improved knowledge and attitudes, however, were more variable. The findings suggest that the TTC anti-stigma social marketing campaign is a potentially cost-effective and low-cost intervention for reducing the impact of stigma on people with mental health problems.

Electricity market design of the future; Strommarktdesign der Zukunft

Energy Technology Data Exchange (ETDEWEB)

Peek, Markus; Diels, Robert [r2b energy consulting GmbH, Koeln (Germany)

2016-02-15

The transformation of the power generation system, to one in which renewable energies will form a cornerstone, will change the requirements for all market actors. To achieve the goals of the German Energiewende ('energy transition'), greater flexibility in production and consumption is of particular importance. Flexibility enables the cost-effective integration of the fluctuating actual feed-in of renewable energies. On the one hand, the technical options for reducing existing technical inflexibilities are given to a considerable extent. On the other hand, analyses of the transnational compensation effects of load and renewable energy supply (RES) feed-in show that flexibility requirements can be reduced significantly in a common electricity market. Electricity markets in which there is open technological competition are an appropriate instrument for the flexibilization of the power supply system. In the short term, the mechanisms of competitive electricity markets ensure an efficient synchronization of supply and demand. Over the medium and long term, the market creates efficient incentives to adapt the generation system and the behavior of consumers to future needs, resulting from the changes in the residual load structure. But at the same time, in recent years the occurrence of negative electricity prices in situations with significantly positive residual loads show that flexibility restraints exist. The causes of these restraints are at least partly due to the market design or the regulatory framework. On the one hand, there are barriers to market entry and, on the other hand, price signals from the electricity markets do not reach all market actors or reach them distortedly. To enable the cost effective development of the different flexibility options in an open technology competition, restraints resulting from market design and the regulatory framework (e. g. in the framework of grid charges, the market and product design of control power markets

Corporate Finance and the San Francisco Mining Share Market, 1860-1877

OpenAIRE

Oskar, Glenda

2013-01-01

Throughout history, capital markets have been central to innovation and the development of new industries, job creation, low unemployment, wealth accumulation, reducing income inequality, improving living standards, and promoting economic growth. In perfect capital markets, firms can easily raise funds for profitable investments. However, market frictions, such as agency costs, liquidity constraints, and asymmetric information, can lead to underinvestment. In this dissertation, I study the fi...

Heuristic procedures for transmission planning in competitive electricity markets

International Nuclear Information System (INIS)

Lu, Wene; Bompard, Ettore; Napoli, Roberto; Jiang, Xiuchen

2007-01-01

The network structure of the power system, in an electricity market under the pool model, may have severe impacts on market performance, reducing market efficiency considerably, especially when producers bid strategically. In this context network re-enforcement plays a major role and proper strategies of transmission planning need to be devised. This paper presents, for pool-model electricity markets, two heuristic procedures to select the most effective subset of lines that would reduce the impacts on the market, from a set of predefined candidate lines and within the allowed budget for network expansion. A set of indices that account for the economic impacts of the re-enforcing of the candidate lines, both in terms of construction cost and market efficiency, are proposed and used as sensitivity indices in the heuristic procedure. The proposed methods are applied and compared with reference to an 18-bus test system. (author)

Evaluating the Value of Flexibility in Energy Regulation Markets

DEFF Research Database (Denmark)

Neupane, Bijay; Pedersen, Torben Bach; Thiesson, Bo

2015-01-01

In this paper, we perform an econometric analysis on the benefits of introducing flexibility in the Danish/Nordic regulating power market. The paper investigates the relationships between market power prices and regulation volumes, in order to quantify the effects of flexibility on regulating power...... prices. Further, we analyze the benefit for various types of flexibility and market objectives, to detect the type of energy flexibility that maximizes the benefits. Results show that if 3.87% of total demand is flexible, market can reduce the regulation cost by 49% and the regulation volume by 29.4%....

Using geographical indications for signalling quality and reducing transaction costs of marketing Uyui honey from Tanzania

DEFF Research Database (Denmark)

Mwakaje, A.E.G.; Bosselmann, Aske Skovmand; Hansted, L.

2018-01-01

data were collected on, cultural and historical identity, the local ecosystem, marketing and value addition technologies. The policy and legal framework for GI certification were also reviewed. Seven honey samples from Uyui District were tested for physicochemical characteristics and compared...

Tender frequency and market concentration in balancing power markets

International Nuclear Information System (INIS)

Knaut, Andreas; Obermueller, Frank; Weiser, Florian

2017-01-01

Balancing power markets ensure the short-term balance of supply and demand in electricity markets and their importance may increase with a higher share of fluctuating renewable electricity production. While it is clear that shorter tender frequencies, e.g. daily or hourly, are able to increase the efficiency compared to a weekly procurement, it remains unclear in which respect market concentration will be affected. Against this background, we develop a numerical electricity market model to quantify the possible effects of shorter tender frequencies on costs and market concentration. We find that shorter time spans of procurement are able to lower the costs by up to 15%. While market concentration decreases in many markets, we - surprisingly - identify cases in which shorter time spans lead to higher concentration.

Tender frequency and market concentration in balancing power markets

Energy Technology Data Exchange (ETDEWEB)

Knaut, Andreas; Obermueller, Frank; Weiser, Florian

2017-01-15

Balancing power markets ensure the short-term balance of supply and demand in electricity markets and their importance may increase with a higher share of fluctuating renewable electricity production. While it is clear that shorter tender frequencies, e.g. daily or hourly, are able to increase the efficiency compared to a weekly procurement, it remains unclear in which respect market concentration will be affected. Against this background, we develop a numerical electricity market model to quantify the possible effects of shorter tender frequencies on costs and market concentration. We find that shorter time spans of procurement are able to lower the costs by up to 15%. While market concentration decreases in many markets, we - surprisingly - identify cases in which shorter time spans lead to higher concentration.

Reducing the Risk: Unemployed Migrant Youth and Labour Market Programs. Overview.

Science.gov (United States)

Australian Inst. of Multicultural Affairs, Melbourne (Australia).

This booklet is an overview and summary of the publication "Reducing the Risk: Unemployed Migrant Youth and Labour Market Programs" which reviews programs and services for migrant and refugee youth in Australia. The unemployment rate for this group is higher than for their Australian-born peers, and their participation in governmental…

41 CFR 302-14.100 - How should we administer our home marketing incentive payment program?

Science.gov (United States)

2010-07-01

... reduce your overall relocation costs. You must not make a home marketing incentive payment that exceeds... our home marketing incentive payment program? 302-14.100 Section 302-14.100 Public Contracts and... 14-HOME MARKETING INCENTIVE PAYMENTS Agency Responsibilities § 302-14.100 How should we administer...

Do regulatory mechanisms promote competition and mitigate market power? Evidence from Spanish electricity market

International Nuclear Information System (INIS)

Moutinho, Victor; Moreira, António C.; Mota, Jorge

2014-01-01

This paper estimates the relationships between bidding quantities, marginal cost and market power measures in the Spanish wholesale electricity market for two different regulatory periods: 2002–2005 and 2006–2007. Using panel econometric techniques we find differences in the impacts on bidding strategies for both periods. Hence, the marginal cost and the market power measures affect bid and net quantities. The market power measures also suggest that the coefficient is consistently positive and highly significant for both periods. Moreover, the market power and marginal costs have mixed effects according to the models proposed for both periods. In addition, our results point to the effectiveness of the different effects of mitigating the market power in the Spanish electricity market. For the 2006–2007 period, the proposed causal relationships are partially validated by the cointegration results, which assumes there is a significant causality between the Lerner Index and the marginal cost. - Highlights: • Competition and regulation in the Spanish electricity market. • Net supplier and net demander behavior in the spot market. • Panel cointegration methods used: FMOLS, PMG, MG, DFE and DOLS. • The price cap regulation is effective in mitigating market power. • Market power and marginal cost have positive effects on bidding strategies

SIR (Safe Integral Reactor) - reducing size can reduce cost

International Nuclear Information System (INIS)

Hayns, M.R.

1991-01-01

Traditional engineering economics have favoured the advantages of larger size as a means of reducing specific capital costs and hence unit generating costs. For large and small plants utilising the same concept, e.g. a small four-loop PWR vs a large four-loop PWR with the same number of components, economies of scale are well established. If, however, a smaller plant is sized to take advantage of features which are only feasible at smaller outputs, is of simpler design, with the advantage taken of the simplified design to produce the most cost-effective layout, and incorporates fewer, more easily replaceable components with minimal assembly on site, it is possible to produce a plant which is competitive with larger plant of more traditional design. When 'system' effects, such as better matching of installed capacity to the growth in demand and the fact that a smaller total capacity will be needed to meet a given demand with a specified level of confidence, are taken into account, it can be shown that a utility's overall cash-flow position can be improved with lower associated absolute financial risks. The UK/US Safe Integral Reactor (SIR) is an integral pressurized water reactor in the 300-400 MW(e) range which utilises conventional water reactor technology in a way not feasible at the very large, sizes of recent years. The SIR concept is briefly explained and its technical and economic advantages in terms of simplicity, construction, maintenance, availability, decommissioning, safety and siting described. The results of system analyses which demonstrate the overall financial advantages to a utility are presented. (author)

Subsea industry implements NORSOK: Happy marriages reduce costs

International Nuclear Information System (INIS)

Heggelund, N.

1995-01-01

Cost reduction by implementing NORSOK standards and cooperation between subsea suppliers to the Norwegian continental shelf, are discussed in this article. The aim of NORSOK, which is based on US standards, is to achieve standardization of technical requirements for drilling and production facilities, to identify and develop common requirements for equipment and installations, based on functional specifications, interfaces and limited variety for equipment and design, and to take into consideration existing industry standards and use these where possible. The offspring of cooperation is notable cost reductions. Subsea costs at Saga's Vigdis field have been reduced by 50% in two years. More subsea projects could come up soon. Norsk Hydro has short-listed a semi PDQ (Processing, Drilling and living Quarters), a ship or Gullfaks tie-in as runner-up concepts for the Viksund project. 1 fig

Reinsurance and the Cost of Equity in the United Kingdom’s Non-Life Insurance Market

OpenAIRE

Upreti, Vineet

2014-01-01

The link between the cost of equity and reinsurance purchased by insurers is examined in this study. This work extends the research on the economic value implications of corporate risk management practices. Utilising a framework based on the theory of optimal capital structure, this study puts forward two hypotheses to test empirically the cost of equity – reinsurance relation in the United Kingdom’s non-life insurance market. The first hypothesis tests the effect of the decision to reinsure ...

Cost implications of reduced work hours and workloads for resident physicians.

Science.gov (United States)

Nuckols, Teryl K; Bhattacharya, Jay; Wolman, Dianne Miller; Ulmer, Cheryl; Escarce, José J

2009-05-21

Although the Accreditation Council for Graduate Medical Education (ACGME) limits the work hours of residents, concerns about fatigue persist. A new Institute of Medicine (IOM) report recommends, among other changes, improved adherence to the 2003 ACGME limits, naps during extended shifts, a 16-hour limit for shifts without naps, and reduced workloads. We used published data to estimate labor costs associated with transferring excess work from residents to substitute providers, and we examined the effects of our assumptions in sensitivity analyses. Next, using a probability model to represent labor costs as well as mortality and costs associated with preventable adverse events, we determined the net costs to major teaching hospitals and cost-effectiveness across a range of hypothetical changes in the rate of preventable adverse events. Annual labor costs from implementing the IOM recommendations were estimated to be $1.6 billion (in 2006 U.S. dollars) across all ACGME-accredited programs ($1.1 billion to $2.5 billion in sensitivity analyses). From a 10% decrease to a 10% increase in preventable adverse events, net costs per admission ranged from $99 to $183 for major teaching hospitals and from $17 to $266 for society. With 2.5% to 11.3% decreases in preventable adverse events, costs to society per averted death ranged from $3.4 million to $0. Implementing the four IOM recommendations would be costly, and their effectiveness is unknown. If highly effective, they could prevent patient harm at reduced or no cost from the societal perspective. However, net costs to teaching hospitals would remain high. 2009 Massachusetts Medical Society

The economics of international coal markets

Energy Technology Data Exchange (ETDEWEB)

Paulus, Moritz

2012-07-13

In the scope of four related essays this thesis analyses the Chinese domestic coal sector and coal trade policies and their respective impact on international steam coal trade economics. In particular, the thesis investigates the role of domestic transport infrastructure investment policies as well as Chinese coal export and import controls and the potential exertion of market power through such trade instruments. For this purpose, several spatial equilibrium models have been developed that enable simulation runs to compare different policy scenarios. These models also permit ex-post analyses to empirically test hypotheses of non-competitive market conduct of individual players under the assumption of Cournot behaviour. These model-based analyses yield, among others, the following findings: If coal is converted into electricity early in the Chinese energy supply chain, worldwide marginal costs of supply are substantially lower than if coal is transported via railway. This can reduce China's dependence on international imports significantly. Allocation of welfare changes, particularly in favour of Chinese consumers while rents of international producers decrease. If not only seaborne trade but also interactions and feedbacks between domestic coal markets and international trade markets are accounted for, trade volumes and prices of a China - Indonesia duopoly fit the real market outcome best in 2008. Real Chinese export quotas have been consistent with simulated exports under a Cournot-Nash strategy. Uncertainties with regard to future Chinese coal demand and coal sector policies generate significant costs for international investors and lead to a spatial and temporal reallocation of mining and infrastructure investments. The potential exertion of Chinese demand side market power would further reduce the overall investment activity of exporters.

The economics of international coal markets

International Nuclear Information System (INIS)

Paulus, Moritz

2012-01-01

In the scope of four related essays this thesis analyses the Chinese domestic coal sector and coal trade policies and their respective impact on international steam coal trade economics. In particular, the thesis investigates the role of domestic transport infrastructure investment policies as well as Chinese coal export and import controls and the potential exertion of market power through such trade instruments. For this purpose, several spatial equilibrium models have been developed that enable simulation runs to compare different policy scenarios. These models also permit ex-post analyses to empirically test hypotheses of non-competitive market conduct of individual players under the assumption of Cournot behaviour. These model-based analyses yield, among others, the following findings: If coal is converted into electricity early in the Chinese energy supply chain, worldwide marginal costs of supply are substantially lower than if coal is transported via railway. This can reduce China's dependence on international imports significantly. Allocation of welfare changes, particularly in favour of Chinese consumers while rents of international producers decrease. If not only seaborne trade but also interactions and feedbacks between domestic coal markets and international trade markets are accounted for, trade volumes and prices of a China - Indonesia duopoly fit the real market outcome best in 2008. Real Chinese export quotas have been consistent with simulated exports under a Cournot-Nash strategy. Uncertainties with regard to future Chinese coal demand and coal sector policies generate significant costs for international investors and lead to a spatial and temporal reallocation of mining and infrastructure investments. The potential exertion of Chinese demand side market power would further reduce the overall investment activity of exporters.

A market-driven commercialization strategy for gasification-based technologies

International Nuclear Information System (INIS)

Klara, J.M.; Tomer, B.J.; Stiegel, G.J.

1998-01-01

In the wake of deregulation of power generation in the US, market-based competition is driving electricity generators to low-cost risk system. In such an environment, gasification-based technologies will not be competitive with low capital cost, efficient, and reliable natural gas-fired facilities for baseload power generation in the foreseeable future. The lack of a near-term market application poses a serious threat to the progress of gasification technology. With a reduction in direct federal funding of large-scale demonstration plants as the trend to reduce the size of government continues, an alternate approach to commercialize gasification-based technologies has been developed at DOE/FETC. This new strategy employs gasification in near-term markets where, due to its ability to coproduce a wide variety of commodity and premium products to meet market requirements, it is an attractive alternative. By obtaining operating experience in near-term coproduction applications, gasification system modules can be refined and improved leading to commercial guarantees and acceptance of gasification technology as a cost-effective technology for baseload power generation when this market begins to open domestically, sometime after 2005

The Role of Budget Airlines in the Air Transport Market

Directory of Open Access Journals (Sweden)

Panasiuk Irina P.

2017-05-01

Full Text Available The contemporary air transport market has been considered and analyzed, key aspects of the emergence of budget airlines (low-cost in the air transport market have been highlighted. The main factors of influence on their functioning and international distribution have been allocated. On exploring the air transport market, it can be argued that low-cost airlines are gaining speed and spreading all around the world. This system was developed specifically for budget tourists and is particularly popular among students. Budget airlines are a profitable alternative to expensive airfares. As a rule, low-cost airlines refuse most traditional services to reduce the cost of transporting passengers, and hence the prices of flights. In the current phase of operation of the budget airlines, it is particularly necessary to study the reasons for such charity and the efficiency factor in providing cheap airfares. In spite of the tempting offer, there are some nuances that are subject of research.

Cost effectiveness of reducing radon exposure in Spanish dwellings

International Nuclear Information System (INIS)

Colgan, P.A.; Gutierrez, J.

1996-01-01

Published information on the distribution of radon levels in Spanish single family dwellings is used to evaluate the cost-effectiveness of three different intervention scenarios: remediation of existing dwellings, radon proofing of all future dwellings and the targetting of areas with higher than average indoor radon concentrations. Analysis is carried out on the basis of a Reference Level of 400 Bq m -3 for the existing housing stock and 200 Bq m -3 for new dwellings. Certain assumptions are made about the effectiveness and durability of the measures applied and annualised costs are used to calculate the costs per lung cancer death averted. The results reveal that targetting future housing is a more cost-effective option than remediation of existing dwellings with radon concentrations above the Reference Level -the costs per lung cancer death averted are typically $145000. In high-risk areas, these costs can be considerably less, depending on the percentage of dwellings expected to exceed the Reference Level and the average savings in exposure as a result of the intervention. The costs of intervention to reduce lung cancer deaths following exposure to radon compare favourably with those of other health programmes in other countries. (Author)

Biomass power generation in competitive markets - The impact of instruments and regulations

International Nuclear Information System (INIS)

Ackermann, Thomas; Soeder, Lennart

1999-01-01

This paper presents and briefly evaluates the most important existing market instruments and market schemes which support the development of renewable energy generation as well as the impact of market regulations on the development of biomass power generation. The evaluation of the existing instruments focuses on the incentives provided by the various instruments to reduce production costs. The instruments and schemes are: Feed-in Tariffs, Net Metering, Bidding Process, Fixed Quotas, Green Certificate Trading, Green Power Exchange, Green Pricing. Feed-in tariffs and net metering are important instruments to get the different technologies 'off the ground', however, they can only be considered an interim solution as they do not necessarily lead to cost reduction. A bidding process is one way to achieve these cost reductions, but high transaction costs will support the development of large renewable energy projects, which is not always the desired effect. Fixed quotas combined with green certificate trading or a power exchange in combination with Green Pricing seem to lead to similar costs reduction, however, so far there is only limited experience with such instruments. The analysis of the impact of market regulations focuses on international electricity markets with a power exchange. Such markets exist, for example, in Scandinavia, England and Wales, Australia, New Zealand and California. The analysis showed that new distributed generation, for example based on biomass, faces significant market barriers. Furthermore, distributed generation is not treated equally within the market regulations compared to large-scale power generation

Modelling the transition from cost-based to bid-based pricing in a deregulated electricity-market

International Nuclear Information System (INIS)

Druce, Donald J.

2007-01-01

Alberta is a province in western Canada with a deregulated electricity-market. Market clearing prices for most hours reflect the cost of either coal-fired or gas-fired thermal generation. Whenever there is a chronic shortage of generation or even a temporary one due to an outage, prices can be bid much higher than fuel costs would suggest. The province of British Columbia borders Alberta to the west and its electric utility, BC Hydro, has a history of trade with the utilities in Alberta. BC Hydro has predominantly hydroelectric resources and large storage reservoirs. Prior to Alberta's deregulation in 1996, BC Hydro was able to enter into mutually beneficial load-factoring contracts with the Alberta utilities. Now, as long as the transmission is available, BC Hydro can buy low priced off-peak coal-fired energy and sell into the high priced periods without having to share the benefits. BC Hydro uses a combination of econometric and Monte Carlo modelling to simulate hourly price-duration curves for Alberta that capture both cost-based and bid-based characteristics. This approach provides a good fit with the stochastic dynamic programming model that BC Hydro has developed for its mid-term hydro scheduling

A Transmission-Cost-Based Model to Estimate the Amount of Market-Integrable Wind Resources

DEFF Research Database (Denmark)

Morales González, Juan Miguel; Pinson, Pierre; Madsen, Henrik

2012-01-01

are made to share the expenses in transmission derived from their integration, they may see the doors of electricity markets closed for not being competitive enough. This paper presents a model to decide the amount of wind resources that are economically exploitable at a given location from a transmission......In the pursuit of the large-scale integration of wind power production, it is imperative to evaluate plausible frictions among the stochastic nature of wind generation, electricity markets, and the investments in transmission required to accommodate larger amounts of wind. If wind producers......-cost perspective. This model accounts for the uncertain character of wind by using a modeling framework based on stochastic optimization, simulates market barriers by means of a bi-level structure, and considers the financial risk of investments in transmission through the conditional value-at-risk. The major...

Can E-Filing Reduce Tax Compliance Costs in Developing Countries?

OpenAIRE

Yilmaz, Fatih; Coolidge, Jacqueline

2013-01-01

The purpose of this study is to investigate the association between electronic filing (e-filing) and the total tax compliance costs incurred by small and medium size businesses in developing countries, based on survey data from South Africa, Ukraine, and Nepal. A priori, most observers expect that use of e-filing should reduce tax compliance costs, but this analysis suggests that the assum...

Market Integration, Choice of Technology and Welfare

DEFF Research Database (Denmark)

Hansen, Jørgen Drud; Nielsen, Jørgen Ulff-Møller

2010-01-01

technologies. Market integration may induce a technological restructuring where firms either diversify their technologies or switch to a homogeneous technology. In general, market integration improves welfare. However, a small decrease of trade costs which induces a switch from heterogeneous technologies...... to a homogeneous technology may locally reduce global welfare. The model also shows that productivity differences lead to intra-industry firm heterogeneity in size and exports similar to the "new-new" trade models with monopolistic competition....

Caring Wisely: A Program to Support Frontline Clinicians and Staff in Improving Healthcare Delivery and Reducing Costs.

Science.gov (United States)

Gonzales, Ralph; Moriates, Christopher; Lau, Catherine; Valencia, Victoria; Imershein, Sarah; Rajkomar, Alvin; Prasad, Priya; Boscardin, Christy; Grady, Deborah; Johnston, S

2017-08-01

We describe a program called "Caring Wisely"®, developed by the University of California, San Francisco's (UCSF), Center for Healthcare Value, to increase the value of services provided at UCSF Health. The overarching goal of the Caring Wisely® program is to catalyze and advance delivery system redesign and innovations that reduce costs, enhance healthcare quality, and improve health outcomes. The program is designed to engage frontline clinicians and staff-aided by experienced implementation scientists-to develop and implement interventions specifically designed to address overuse, underuse, or misuse of services. Financial savings of the program are intended to cover the program costs. The theoretical underpinnings for the design of the Caring Wisely® program emphasize the importance of stakeholder engagement, behavior change theory, market (target audience) segmentation, and process measurement and feedback. The Caring Wisely® program provides an institutional model for using crowdsourcing to identify "hot spot" areas of low-value care, inefficiency and waste, and for implementing robust interventions to address these areas. © 2017 Society of Hospital Medicine.

Valuing productivity costs in a changing macroeconomic environment: the estimation of colorectal cancer productivity costs using the friction cost approach.

Science.gov (United States)

Hanly, Paul; Koopmanschap, Marc; Sharp, Linda

2016-06-01

The friction cost approach (FCA) has been proposed as an alternative to the human capital approach for productivity cost valuation. However, FCA estimates are context dependent and influenced by extant macroeconomic conditions. We applied the FCA to estimate colorectal cancer labor productivity costs and assessed the impact of a changing macroeconomic environment on these estimates. Data from colorectal cancer survivors (n = 159) derived from a postal survey undertaken in Ireland March 2010 to January 2011 were combined with national wage data, population-level survival data, and occupation-specific friction periods to calculate temporary and permanent disability, and premature mortality costs using the FCA. The effects of changing labor market conditions between 2006 and 2013 on the friction period were modeled in scenario analyses. Costs were valued in 2008 euros. In the base-case, the total FCA per-person productivity cost for incident colorectal cancer patients of working age at diagnosis was €8543. In scenario 1 (a 2.2 % increase in unemployment), the fall in the friction period caused total productivity costs to decrease by up to 18 % compared to base-case estimates. In scenario 2 (a 9.2 % increase in unemployment), the largest decrease in productivity cost was up to 65 %. Adjusting for the vacancy rate reduced the effect of unemployment on the cost results. The friction period used in calculating labor productivity costs greatly affects the derived estimates; this friction period requires reassessment following changes in labor market conditions. The influence of changes in macroeconomic conditions on FCA-derived cost estimates may be substantial.

Influence of wind farm capacity, turbine size and wind speed on production cost: analysis of the actual market trend

International Nuclear Information System (INIS)

Laali, A.-R.; Meyer, J.-L.

1996-01-01

Several studies are undertaken in R and D Division of EDF in collaboration with ERASME association in order to have a good knowledge of the wind energy production costs. These studies are performed in the framework of a wind energy monitoring project and concern the influence of a few parameters like wind farm capacity, turbine size and wind speed on production costs, through an analysis of the actual market trend. Some 50 manufacturers and 140 different kind of wind turbines are considered for this study. The minimum production cost is situated at 800/900 kW wind turbine rated power. This point will probably move to more important powers in the future. This study is valid only for average conditions and some special parameters like particular climate conditions or lack of infrastructure for a special site that could modify the results shown on the curves. The variety of wind turbines (rated power as a function of rotor diameter, height and specific rated power) in the actual market is analysed. A brief analysis of the market trend is also performed. (author)

Reducing Wildlife Damage with Cost-Effective Management Programmes.

Directory of Open Access Journals (Sweden)

Cheryl R Krull

Full Text Available Limiting the impact of wildlife damage in a cost effective manner requires an understanding of how control inputs change the occurrence of damage through their effect on animal density. Despite this, there are few studies linking wildlife management (control, with changes in animal abundance and prevailing levels of wildlife damage. We use the impact and management of wild pigs as a case study to demonstrate this linkage. Ground disturbance by wild pigs has become a conservation issue of global concern because of its potential effects on successional changes in vegetation structure and composition, habitat for other species, and functional soil properties. In this study, we used a 3-year pig control programme (ground hunting undertaken in a temperate rainforest area of northern New Zealand to evaluate effects on pig abundance, and patterns and rates of ground disturbance and ground disturbance recovery and the cost effectiveness of differing control strategies. Control reduced pig densities by over a third of the estimated carrying capacity, but more than halved average prevailing ground disturbance. Rates of new ground disturbance accelerated with increasing pig density, while rates of ground disturbance recovery were not related to prevailing pig density. Stochastic simulation models based on the measured relationships between control, pig density and rate of ground disturbance and recovery indicated that control could reduce ground disturbance substantially. However, the rate at which prevailing ground disturbance was reduced diminished rapidly as more intense, and hence expensive, pig control regimes were simulated. The model produced in this study provides a framework that links conservation of indigenous ecological communities to control inputs through the reduction of wildlife damage and suggests that managers should consider carefully the marginal cost of higher investment in wildlife damage control, relative to its marginal conservation

Predictive models reduce talent development costs in female gymnastics.

Science.gov (United States)

Pion, Johan; Hohmann, Andreas; Liu, Tianbiao; Lenoir, Matthieu; Segers, Veerle

2017-04-01

This retrospective study focuses on the comparison of different predictive models based on the results of a talent identification test battery for female gymnasts. We studied to what extent these models have the potential to optimise selection procedures, and at the same time reduce talent development costs in female artistic gymnastics. The dropout rate of 243 female elite gymnasts was investigated, 5 years past talent selection, using linear (discriminant analysis) and non-linear predictive models (Kohonen feature maps and multilayer perceptron). The coaches classified 51.9% of the participants correct. Discriminant analysis improved the correct classification to 71.6% while the non-linear technique of Kohonen feature maps reached 73.7% correctness. Application of the multilayer perceptron even classified 79.8% of the gymnasts correctly. The combination of different predictive models for talent selection can avoid deselection of high-potential female gymnasts. The selection procedure based upon the different statistical analyses results in decrease of 33.3% of cost because the pool of selected athletes can be reduced to 92 instead of 138 gymnasts (as selected by the coaches). Reduction of the costs allows the limited resources to be fully invested in the high-potential athletes.

The world market

International Nuclear Information System (INIS)

Field, D.

1991-01-01

This paper reports on the Lambda Power Supply Group, with headquarters in Melville, Long Island owned by UNITECH PLC, based in Reading in the United Kingdom. The Group forms the greatest Power Supply manufacturing and marketing organization in the world, with sales for 1989/90 in excess of $300 million. World markets have distinct trends which need to be recognized in the years ahead. In general, these trends are now commercially driven and center around: The globalization of world markets and the need to service the same customer in the Far East, North America and Europe. The drive to reduce physical size, improve performance and quality and the need to reduce costs. This requires significant investment in research and development to maintain technological leadership. The increasing speed of new product introductions requires power supply companies to work hand-in-hand with their customers as a partner, or even as an extension of the OEM's own development department. A significant trend within Europe is the perception by Far Eastern equipment manufacturers that, by 1992, trade barriers will be erected, and these large manufacturers are increasingly establishing factories within Europe, where they will need local content in their products. Whilst addressing a Global Market with products which are suitable for worldwide sale, it is important to note that local presence is vital, not only to service the customer, but also to monitor the customers needs which have significant differences in certain markets

Cost-effectiveness of reducing emissions from tropical deforestation, 2016-2050

Science.gov (United States)

Busch, Jonah; Engelmann, Jens

2017-12-01

Reducing tropical deforestation is potentially a large-scale and low-cost strategy for mitigating climate change. Yet previous efforts to project the cost-effectiveness of policies to reduce greenhouse gas emissions from future deforestation across the tropics were hampered by crude available data on historical forest loss. Here we use recently available satellite-based maps of annual forest loss between 2001-2012, along with information on topography, accessibility, protected status, potential agricultural revenue, and an observed inverted-U-shaped relationship between forest cover loss and forest cover, to project tropical deforestation from 2016-2050 under alternative policy scenarios and to construct new marginal abatement cost curves for reducing emissions from tropical deforestation. We project that without new forest conservation policies 289 million hectares of tropical forest will be cleared from 2016-2050, releasing 169 GtCO2. A carbon price of US20/tCO2 (50/tCO2) across tropical countries would avoid 41 GtCO2 (77 GtCO2) from 2016-2050. By comparison, we estimate that Brazil’s restrictive policies in the Amazon between 2004-2012 successfully decoupled potential agricultural revenue from deforestation and reduced deforestation by 47% below what would have otherwise occurred, preventing the emission of 5.2 GtCO2. All tropical countries enacting restrictive anti-deforestation policies as effective as those in the Brazilian Amazon between 2004-2012 would avoid 58 GtCO2 from 2016-2050.

Cost-Effectiveness Analysis of Interventions to Reduce Risk of Aspiration in Elderly Cancer Survivors Residing in Skilled Nursing Facilities.

Science.gov (United States)

Mantravadi, S

2017-04-01

Aspiration can occur in patients of any age group, but it can be prevented. The primary population at risk is made up of survivors of cancer because of their increased risk of mucositis, mucosal atrophy, and dysphagia associated with chemotherapy, radiotherapy, and the disease process itself. The rate of incidence of aspiration cannot be quantified, because minor cases of aspiration often go unreported. Sequelae ensuing from aspirations can include pneumonia, end-stage kidney disease, dialysis, and death. Analyses of cost, decision-tree modeling, and cost effectiveness were performed to compare a hypothetical, interventional model based on best practices with usual (standard) care. A societal perspective was used as the economic view point. Direct costs, caregiver time, and market values for wages were estimated for the 2 interventions. Effectiveness values for the cost-effectiveness and decision-tree analyses were obtained from the literature. The incremental-cost-effectiveness ratio was calculated and used to compare the intervention with usual care. The interventional method was more costly but more effective than usual care. A sensitivity analysis considered the uncertainty of event probability (aspiration vs no aspiration). The interventional protocol for aspiration reduction continued to be more cost effective than usual care. Aspiration takes a financial toll on all facets of health care, including on nurses, skilled nursing facilities, patients, their families, and insurers, among others. Implementing guidelines that describe best practices for aspiration appears to be a cost-effective strategy for reducing aspirations among cancer survivors - especially elderly patients - who live in skilled nursing facilities.

Small Habitat Commonality Reduces Cost for Human Mars Missions

Science.gov (United States)

Griffin, Brand N.; Lepsch, Roger; Martin, John; Howard, Robert; Rucker, Michelle; Zapata, Edgar; McCleskey, Carey; Howe, Scott; Mary, Natalie; Nerren, Philip (Inventor)

2015-01-01

Most view the Apollo Program as expensive. It was. But, a human mission to Mars will be orders of magnitude more difficult and costly. Recently, NASA's Evolvable Mars Campaign (EMC) mapped out a step-wise approach for exploring Mars and the Mars-moon system. It is early in the planning process but because approximately 80% of the total life cycle cost is committed during preliminary design, there is an effort to emphasize cost reduction methods up front. Amongst the options, commonality across small habitat elements shows promise for consolidating the high bow-wave costs of Design, Development, Test and Evaluation (DDT&E) while still accommodating each end-item's functionality. In addition to DDT&E, there are other cost and operations benefits to commonality such as reduced logistics, simplified infrastructure integration and with inter-operability, improved safety and simplified training. These benefits are not without a cost. Some habitats are sub-optimized giving up unique attributes for the benefit of the overall architecture and because the first item sets the course for those to follow, rapidly developing technology may be excluded. The small habitats within the EMC include the pressurized crew cabins for the ascent vehicle,

Ablation - breakthrough technology to reduce uranium mining cost and increase resources

International Nuclear Information System (INIS)

Scriven, D.

2014-01-01

Ablation Technologies, LLC has developed and patented a revolutionary mining technology termed “ablation”. Ablation is a process using only mechanical forces to upgrade sandstone uranium ores. Uranium bearing sandstone orebodies are formed from a uranium enriched solution flowing through an aquifer until it reached some type of a “red/ox” zone forcing the uranium and other heavy metals to come out of solution. The precipitate forms a thin coating on the sand grains and fills the interstitial space between the sand grains but does no penetrate the sand grains. The ablation process knocks the precipitate off the sand grains using the forces of abrasion, elastic compression and rebounding, much like a mud coated tennis ball will sheds the mud when bounced off the ground, and to some extent, sonic waves. This produces a product which collectively is exactly the same as the ore going in but with all the individual components separated. This allows for disgressionary separation, the most important of which is screening. The uranium and heavy metals report to the finer fractions of the material, typically less than 250 mesh. The larger fractions contain less than five percent of the uranium but 90 to 95 percent of the mass. The advantages of making an enriched ore are numerous: • Reduce haulage costs from 90 to 95 percent. • Reduce milling costs by reducing material handling costs, acid consumption and tailings disposal costs. • In addition to reducing overall mining and milling costs, the overall recovery of the recourse is increased because the ablation process is so inexpensive, if the material has to be mined it will be ablated and screened. This basically means ore control is significantly reduced, cutoff grade goes to practically zero and overall resource recovery is significantly increased. • Environmentally, the two major advantages are reduced tailings requirements at the mill site and cleaner waste dumps at the mine site. This paper will show

Inbound Marketing - the most important digital marketing strategy

OpenAIRE

PATRUTIU-BALTES Loredana

2017-01-01

Digital marketing has a major importance in the marketing strategy of any company regardless of sector, size or country of origin. Thus, more than ever, in order to remain competitive, companies are forced to exploit this form of marketing, which essentially can bring huge benefits at low costs. The main form of digital marketing is the inbound marketing, which represents an organic marketing form, based on the close relationship ...

IFMIF (International Fusion Materials Irradiation Facility) conceptual design activity reduced cost report

International Nuclear Information System (INIS)

2000-02-01

This report describes the results of a preliminary reevaluation of the design and cost of the International Fusion Materials Irradiation Facility (IFMIF) Project in response to the request from the 28th FPCC meeting in January 1999. Two major ideas have been considered: 1) reduction of the total construction cost through elimination of the previously planned facility upgrade and 2) a facility deployment in 3 stages with capabilities for limited experiments in the first stage. As a result, the size and complexity of the facility could be significantly reduced, leading to substantial cost savings. In addition to these two ideas, this study also included a critical review of the original CDA specification with the objective of elimination of nonessential items. For example, the number of lithium targets was reduced from two to one. As a result of these changes in addition to the elimination of the upgrade, the total cost estimate was very substantially reduced from 797.2 MICF to 487.8 MICF, where 1 MICF = 1 Million of the IFMIF Conversion Units (approximately $1M US January, 1996). (author)

Hospital cost-containment strategies that earn the respect of rating agencies.

Science.gov (United States)

Dopoulos, Jason

2016-01-01

To confirm that hospitals have the necessary structures and strategies in place to reduce costs and secure future market share, credit rating agencies analyze a variety of quantitative and qualitative criteria, including: Salaries and benefits, bad debt, age of plant and depreciation, and other line items that may point to inefficiencies in a hospital's expense structure. Cost-benefit analyses, strategic plans, and leadership qualities that show the long-term value of expense cuts, capital investments, and mergers and acquisitions. Cost-effective and clinically appropriate shifts in a hospital's outpatient-to-inpatient ratio. Liquidity and market share.

Reducing electrocoagulation harvesting costs for practical microalgal biodiesel production.

Science.gov (United States)

Dassey, Adam J; Theegala, Chandra S

2014-01-01

Electrocoagulation has shown potential to be a primary microalgae harvesting technique for biodiesel production. However, methods to reduce energy and electrode costs are still necessary for practical application. Electrocoagulation tests were conducted on Nannochloris sp. and Dunaliella sp. using perforated aluminium and iron electrodes under various charge densities. Aluminium electrodes were shown to be more efficient than iron electrodes when harvesting both algal species. Despite the lower harvesting efficiency, however, the iron electrodes were more energy and cost efficient. Operational costs of less than $0.03/L oil were achieved when harvesting Nannochloris sp. with iron electrodes at 35% harvest efficiency, whereas aluminium electrodes cost $0.75/L oil with 42% harvesting efficiency. Increasing the harvesting efficiencies for both aluminium and iron electrodes also increased the overall cost per litre of oil, therefore lower harvesting efficiencies with lower energy inputs was recommended. Also, increasing the culturing salinity to 2 ppt sodium chloride for freshwater Nannochloris sp. was determined practical to improve the electrocoagulation energy efficiency despite a 25% reduction in cell growth.

HPTLC Method Development and Validation of Zolpidem Tartrate in Bulk and Marketed Formulation

OpenAIRE

Abhay R. Shirode; Bharti G. Jadhav; Vilasrao J. Kadam

2015-01-01

High performance thin layer chromatography (HPTLC) offers many advantages over HPLC. It reduces the cost of analysis as compare to HPLC. The mobile phase consumption per sample is extremely low in HPTLC, hence reducing the acquisition and disposal cost. Considering the cost and suitability of analysis for estimation of zolpidem tartrate in bulk and its marketed formulation, HPTLC method was developed and validated. The Camag HPTLC system, employed with software winCATS (ver.1.4.1.8) was used ...

Wellness Programs: Preventive Medicine to Reduce Health Care Costs.

Science.gov (United States)

Martini, Gilbert R., Jr.

1991-01-01

A wellness program is a formalized approach to preventive health care that can positively affect employee lifestyle and reduce future health-care costs. Describes programs for health education, smoking cessation, early detection, employee assistance, and fitness, citing industry success figures. (eight references) (MLF)

Cost-effectiveness of diet and exercise interventions to reduce overweight and obesity.

Science.gov (United States)

Forster, M; Veerman, J L; Barendregt, J J; Vos, T

2011-08-01

To analyze whether two dietary weight loss interventions--the dietary approaches to stop hypertension (DASH) program and a low-fat diet program--would be cost-effective in Australia, and to assess their potential to reduce the disease burden related to excess body weight. We constructed a multi-state life-table-based Markov model in which the distribution of body weight influences the incidence of stroke, ischemic heart disease, hypertensive heart disease, diabetes mellitus, osteoarthritis, post-menopausal breast cancer, colon cancer, endometrial cancer and kidney cancer. The target population was the overweight and obese adult population in Australia in 2003. We used a lifetime horizon for health effects and costs, and a health sector perspective for costs. We populated the model with data identified from Medline and Cochrane searches, Australian Bureau of Statistics published catalogues, Australian Institute of Health and Welfare, and Department of Health and Ageing. Disability adjusted life years (DALYs) averted, incremental cost-effectiveness ratios (ICERs) and proportions of disease burden avoided. ICERs under AUS$50,000 per DALY are considered cost-effective. The DASH and low-fat diet programs have ICERs of AUS$12,000 per DALY (95% uncertainty range: Cost-saving- 68,000) and AUS$13,000 per DALY (Cost-saving--130,000), respectively. Neither intervention reduced the body weight-related disease burden at population level by more than 0.1%. The sensitivity analysis showed that when participants' costs for time and travel are included, the ICERs increase to AUS$75,000 per DALY for DASH and AUS$49,000 per DALY for the low-fat diet. Modest weight loss during the interventions, post-intervention weight regain and low participation limit the health benefits. Diet and exercise interventions to reduce obesity are potentially cost-effective but have a negligible impact on the total body weight-related disease burden.

Accelerating residential PV expansion: demand analysis for competitive electricity markets

International Nuclear Information System (INIS)

Duke, Richard; Williams, Robert; Payne, Adam

2005-01-01

This article quantifies the potential market for grid-connected, residential photovoltaic (PV) electricity integrated into new homes built in the US. It complements an earlier supply-side analysis by the authors that demonstrates the potential to reduce PV module prices below $1.5/W p by scaling up existing thin-film technology in 100 MW p /yr manufacturing facilities. The present article demonstrates that, at that price, PV modules may be cost effective in 125,000 new home installations per year (0.5 GW p /yr). While this market is large enough to support multiple scaled up thin-film PV factories, inefficient energy pricing and demand-side market failures will inhibit prospective PV consumers without strong public policy support. Net metering rules, already implemented in many states to encourage PV market launch, represent a crude but reasonable surrogate for efficient electricity pricing mechanisms that may ultimately emerge to internalize the externality benefits of PV. These public benefits include reduced air pollution damages (estimated costs of damage to human health from fossil fuel power plants are presented in Appendix A), deferral of transmission and distribution capital expenditures, reduced exposure to fossil fuel price risks, and increased electricity system reliability for end users. Thus, net metering for PV ought to be implemented as broadly as possible and sustained until efficient pricing is in place. Complementary PV 'buydowns' (e.g., a renewable portfolio standard with a specific PV requirement) are needed to jumpstart regional PV markets

Global stock market linkages reduce potential for diversification

OpenAIRE

Karen K. Lewis

2012-01-01

Recent European government debt difficulties demonstrate how linked stock markets have become. Problems in countries such as Greece and Italy have depressed stock markets not only on the continent but also in the United States. Such comovement across international financial markets highlights U.S. equity markets’ exposure to foreign markets.

Is Historical Cost Accounting a Panacea? Market Stress, Incentive Distortions, and Gains Trading

OpenAIRE

Ellul, Andrew; Jotikasthira, Chotibhak; Lundblad, Christian T; Wang, Yihui

2015-01-01

This paper explores the trading incentives of financial institutions induced by the interaction between regulatory accounting rules and capital requirements by investigating insurance companies’ trading behavior during the recent financial crisis. According to insurance regulation, life insurers have a greater degree of flexibility to hold downgraded instruments at historical cost, whereas property and casualty insurers are forced to re-mark many of their downgraded securities to market price...

Enhancing efficiency of production cost on seafood process with activity based management method

Science.gov (United States)

Tarigan, U.; Tarigan, U. P. P.

2018-02-01

The efficiency of production costs has an important impact maintaining company presence in the business world, as well as in the face of increasingly sharp global competition. It was done by identifying and reducing non-value-added activities to decrease production costs and increase profits. The study was conducted at a company engaged in the production of squid (seafood). It has a higher product price than the market as Rp 50,000 per kg while the market price of squid is only Rp 35,000 per kg. The price of the product to be more expensive compared with market price, and thereby a lot more consumers choose the lower market price. Based on the discussions conducted, the implementation of Activity Based Management was seen in the reduction of activities that are not added value in the production process. Since each activities consumers cost, the reduction of nonvalue-added activities has effects on the decline of production cost. The production’s decline costs mainly occur in the reduction of material transfer costs. The results showed that there was an increase after the improvement of 2.60%. Increased production cost efficiency causes decreased production costs and increased profits.

Assembling Markets for Wind Power

DEFF Research Database (Denmark)

Pallesen, Trine

hand, as an economic good, wind power is said to suffer from (techno-economic) ‘disabilities’, such as high costs, fluctuating and unpredictable generation, etc. Therefore, because of its performance as a good, it is argued that the survival of wind power in the market is premised on different......This project studies the making of a market for wind power in France. Markets for wind power are often referred to as ‘political markets: On the one hand, wind power has the potential to reduce CO2-emissions and thus stall the effects of electricity generation on climate change; and on the other...... instruments, some of which I will refer to as ‘prosthetic devices’. This thesis inquires into two such prosthetic devices: The feed-in tariff and the wind power development zones (ZDE) as they are negotiated and practiced in France, and also the ways in which they affect the making of markets for wind power....

The world enrichment market

International Nuclear Information System (INIS)

Gunter, L.; McCants, C.; Rutkowski, E.

1991-01-01

The enrichment market can be divided into two periods: the near-term market (1991 to 1995) and the long-term market (1995 and beyond). The near-term market is characterized by limited unfilled requirements of 4% per year, to be supplied by national stockpiles and excess inventories. This low-cost material will be drawn down by about 1993, causing a subsequent price rise. As the price rises, primary supplier activity is expected to increase. In the near-term, two contracting activities are apparent: spot; and intermediate-term. The current spot market is expected to last until available low cost inventories are drawn down. Recently, in attempts to gain market share, suppliers have offered attractively priced intermediate-term (3 year) contracts for 1996 to 1998. While a small spot market will continue after 1995, it is anticipated that utilities will prefer a mix of medium- and long-term (5 to 10 year) contracts from primary suppliers for most of their enrichment requirements. As national stockpiles and utility inventories are consumed, low-cost supply available to the spot market is expected to diminish. Consequently, with little low-cost supply available, the only apparent source of material will be from primary suppliers, and the resulting competition over market share is expected to be intense. (author)

Critical success factors in industrial marketing supply chain management

OpenAIRE

Naser Azad; Seyed Mohsen; Seyed Aliakbar; Ali Nayeri

2012-01-01

Implementation of better marketing strategies in industry plays an important role in increasing sales and profitability of industrial part suppliers. Understanding the weakness in each part of supply chain helps reduce different cost component and increases profitability. In this paper, we present an empirical study to find important factors influencing marketing strategies based on factor analysis. The study designs and distributes a questionnaire consists of 64 questions. The proposed study...