WorldWideScience

Sample records for net price calculator

  1. Enrollment Management's Sleeping Giant: The Net Price Calculator Mandate

    Science.gov (United States)

    Fallon, Mary A. C.

    2011-01-01

    Enrollment managers will be watching to see how recruitment strategies change when higher education's sleeping giant--net price calculators (NPCs)--wakes in the fall of 2011. Some predict yield projections may be more difficult and reputations will be challenged as prospective students, their families, high school counselors, and independent…

  2. Price smarter on the Net.

    Science.gov (United States)

    Baker, W; Marn, M; Zawada, C

    2001-02-01

    Companies generally have set prices on the Internet in two ways. Many start-ups have offered untenably low prices in a rush to capture first-mover advantage. Many incumbents have simply charged the same prices on-line as they do off-line. Either way, companies are missing a big opportunity. The fundamental value of the Internet lies not in lowering prices or making them consistent but in optimizing them. After all, if it's easy for customers to compare prices on the Internet, it's also easy for companies to track customers' behavior and adjust prices accordingly. The Net lets companies optimize prices in three ways. First, it lets them set and announce prices with greater precision. Different prices can be tested easily, and customers' responses can be collected instantly. Companies can set the most profitable prices, and they can tap into previously hidden customer demand. Second, because it's so easy to change prices on the Internet, companies can adjust prices in response to even small fluctuations in market conditions, customer demand, or competitors' behavior. Third, companies can use the clickstream data and purchase histories that it collects through the Internet to segment customers quickly. Then it can offer segment-specific prices or promotions immediately. By taking full advantage of the unique possibilities afforded by the Internet to set prices with precision, adapt to changing circumstances quickly, and segment customers accurately, companies can get their pricing right. It's one of the ultimate drivers of e-business success.

  3. 7 CFR 1221.16 - Net market price.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 10 2010-01-01 2010-01-01 false Net market price. 1221.16 Section 1221.16 Agriculture... INFORMATION ORDER Sorghum Promotion, Research, and Information Order Definitions § 1221.16 Net market price. Net market price means the sales price, or other value, per volumetric unit, received by a producer...

  4. 7 CFR 1220.115 - Net market price.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 10 2010-01-01 2010-01-01 false Net market price. 1220.115 Section 1220.115... CONSUMER INFORMATION Soybean Promotion and Research Order Definitions § 1220.115 Net market price. The term net market price means— (a) except as provided in paragraph (b) of this section, the sales price, or...

  5. 5 CFR 1645.3 - Calculation of total net earnings for each TSP Fund.

    Science.gov (United States)

    2010-01-01

    ... each TSP Fund. 1645.3 Section 1645.3 Administrative Personnel FEDERAL RETIREMENT THRIFT INVESTMENT BOARD CALCULATION OF SHARE PRICES § 1645.3 Calculation of total net earnings for each TSP Fund. (a) Each business day, net earnings will be calculated separately for each TSP Fund. (b) Net earnings for each fund...

  6. FEWS NET Price Volatility Data 2002-2012

    Data.gov (United States)

    US Agency for International Development — This dataset from the Famine Early Warning System Network (FEWS NET) documents ten years, from 2002 to 2012, of cereal price fluctuations across twenty-five African...

  7. 5 CFR 1645.5 - Calculation of share prices.

    Science.gov (United States)

    2010-01-01

    ... incremental change in the value of that fund from the last business day to the current business day. The share price for that fund for the current business day is the sum of the incremental change in the share price... incremental change in the share price of the fund for that business day. The residual net earnings that are...

  8. IMPORTANCE OF DELIVERY CONDITIONS IN THE EXTERNAL PRICE CALCULATION

    Directory of Open Access Journals (Sweden)

    Violeta ISAI

    2005-01-01

    Full Text Available The delivery conditions of the merchandise at export, established by the rules INCOTERMS2000, influence the external price structure. There are some conditions in which the external priceincludes only the value of the merchandise and other conditions in which, besides the value of themerchandise, the price includes also the external transport and insurance. In the case of the exportson commercial credit, when it appears the notion of external interest, this one may be included in theprice or may be invoiced separately, thus defining gross external prices and net external prices.

  9. 17 CFR 190.07 - Calculation of allowed net equity.

    Science.gov (United States)

    2010-04-01

    ... equity. 190.07 Section 190.07 Commodity and Securities Exchanges COMMODITY FUTURES TRADING COMMISSION BANKRUPTCY § 190.07 Calculation of allowed net equity. Allowed net equity shall be computed as follows: (a) Allowed claim. The allowed net equity claim of a customer shall be equal to the aggregate of the funded...

  10. Environmental economic calculation prices for emissions; Miljoeoekonomiske beregningspriser for emissioner

    Energy Technology Data Exchange (ETDEWEB)

    Skou Andersen, M.

    2010-05-15

    The project's aim has been to present updated environmental-economic calculation prices which make it possible to differentiate between traffic sources and stationary sources of air pollution. Furthermore, for the first time calculation prices for emissions to the aquatic environment and for the heavy metal lead are included. (ln)

  11. 26 CFR 1.6662-6 - Transactions between persons described in section 482 and net section 482 transfer price...

    Science.gov (United States)

    2010-04-01

    ... section 482 and net section 482 transfer price adjustments. 1.6662-6 Section 1.6662-6 Internal Revenue... described in section 482 and net section 482 transfer price adjustments. (a) In general—(1) Purpose and... (the transactional penalty) or a net section 482 transfer price adjustment (the net adjustment penalty...

  12. Comparison of the performance of net radiation calculation models

    DEFF Research Database (Denmark)

    Kjærsgaard, Jeppe Hvelplund; Cuenca, R H; Martinez-Cob, A

    2009-01-01

    values of net radiation were calculated using three net outgoing long-wave radiation models and compared to measured values. Four meteorological datasets representing two climate regimes, a sub-humid, high-latitude environment and a semi-arid mid-latitude environment, were used to test the models...... or developed for specific climate regimes, the predictions of the physically based model had slightly lower bias and scatter than the empirical models. When used with their original model coefficients, the physically based model had a higher bias than the measurement error of the net radiation instruments used...

  13. Calculation Tool for Determining the Net Energy Gain

    DEFF Research Database (Denmark)

    Laustsen, Jacob Birck; Svendsen, Svend

    2002-01-01

    for windows are presented. Based on these methods a program has been developed that determines the heat loss coefficient, U, and the total solar energy transmittance, g, for windows compounded of specific window components selected from a database. The program calculates the net energy gain for specific....... A proper and direct way to describe the energy performance of windows is by the net energy gain, E, which expresses the energy balance for the window. It is defined as the solar heat gain transmitted in minus the heat loss transmitted out through the window during the heating season. The net energy gain...... is dependent on both the U-values and the g-values. Beyond this it is dependent on the orientation of the windows and the climate and the actual period. This makes it difficult to choose the glazings and windows that are optimal with regard to energy performance in a given case. These facts have aroused a need...

  14. Net air emissions from electric vehicles: the effect of carbon price and charging strategies.

    Science.gov (United States)

    Peterson, Scott B; Whitacre, J F; Apt, Jay

    2011-03-01

    Plug-in hybrid electric vehicles (PHEVs) may become part of the transportation fleet on time scales of a decade or two. We calculate the electric grid load increase and emissions due to vehicle battery charging in PJM and NYISO with the current generation mix, the current mix with a $50/tonne CO(2) price, and this case but with existing coal generators retrofitted with 80% CO(2) capture. We also examine all new generation being natural gas or wind+gas. PHEV fleet percentages between 0.4 and 50% are examined. Vehicles with small (4 kWh) and large (16 kWh) batteries are modeled with driving patterns from the National Household Transportation Survey. Three charging strategies and three scenarios for future electric generation are considered. When compared to 2020 CAFE standards, net CO(2) emissions in New York are reduced by switching from gasoline to electricity; coal-heavy PJM shows somewhat smaller benefits unless coal units are fitted with CCS or replaced with lower CO(2) generation. NO(X) is reduced in both RTOs, but there is upward pressure on SO(2) emissions or allowance prices under a cap.

  15. Subsidizing Creativity through Network Design: Zero-Pricing and Net Neutrality

    OpenAIRE

    Robin S. Lee; Tim Wu

    2009-01-01

    This paper focuses on the pricing aspect of the "net neutrality" debate -- in particular, the de facto ban on fees levied by Internet service providers on content providers to reach users. This "zero-price" rule may prove desirable for several reasons. Using a two-sided market analysis, we suggest that it subsidizes creativity and innovation in new content creation -- goals shared by copyright and patent laws. The rule also helps to solve a coordination problem: since Internet service provide...

  16. Applying Activity Based Costing (ABC) Method to Calculate Cost Price in Hospital and Remedy Services.

    Science.gov (United States)

    Rajabi, A; Dabiri, A

    2012-01-01

    Activity Based Costing (ABC) is one of the new methods began appearing as a costing methodology in the 1990's. It calculates cost price by determining the usage of resources. In this study, ABC method was used for calculating cost price of remedial services in hospitals. To apply ABC method, Shahid Faghihi Hospital was selected. First, hospital units were divided into three main departments: administrative, diagnostic, and hospitalized. Second, activity centers were defined by the activity analysis method. Third, costs of administrative activity centers were allocated into diagnostic and operational departments based on the cost driver. Finally, with regard to the usage of cost objectives from services of activity centers, the cost price of medical services was calculated. The cost price from ABC method significantly differs from tariff method. In addition, high amount of indirect costs in the hospital indicates that capacities of resources are not used properly. Cost price of remedial services with tariff method is not properly calculated when compared with ABC method. ABC calculates cost price by applying suitable mechanisms but tariff method is based on the fixed price. In addition, ABC represents useful information about the amount and combination of cost price services.

  17. Net thrust calculation sensitivity of an afterburning turbofan engine to variations in input parameters

    Science.gov (United States)

    Hughes, D. L.; Ray, R. J.; Walton, J. T.

    1985-01-01

    The calculated value of net thrust of an aircraft powered by a General Electric F404-GE-400 afterburning turbofan engine was evaluated for its sensitivity to various input parameters. The effects of a 1.0-percent change in each input parameter on the calculated value of net thrust with two calculation methods are compared. This paper presents the results of these comparisons and also gives the estimated accuracy of the overall net thrust calculation as determined from the influence coefficients and estimated parameter measurement accuracies.

  18. 26 CFR 1.408-11 - Net income calculation for returned or recharacterized IRA contributions.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 5 2010-04-01 2010-04-01 false Net income calculation for returned or... Internal Revenue Code section that the return of a contribution be accompanied by the amount of net income... OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Pension, Profit-Sharing, Stock Bonus...

  19. Inter ISO Market Coordination by Calculating Border Locational Marginal Prices

    Directory of Open Access Journals (Sweden)

    BABIC, A. B.

    2013-05-01

    Full Text Available In this paper the methodology for solving Locational Marginal Price (LMP differences (inconsistency of LMPs that arise at the boundary buses between separate power markets is proposed. The algorithm developed enables us to obtain consistent LMP values at the boundary buses between interconnected ISOs. A Primal-Dual Interior Point based optimal power flow (OPF is applied, with complete set of power system physical limit constraints, to solve a regional spot market. The OPF is implemented such that producer and consumer behaviors are modeled simultaneously, while the welfare is maximized. In this paper a generalized methodology for multiple ISOs case is proposed and later it is practically applied on two interconnected independent entities. The algorithm for approximation of cost coefficients of generators and dispatchable loads for neighboring ISOs is proposed. The developed algorithm enables participating ISOs to obtain LMPs at the boundary buses with other interconnected ISOs. By controlling interchange of electric power at the scheduled level, regional spot markets are resolved eliminating possible exercise of market power by individual interconnected ISOs. Results of proposed methodology are tested on the IEEE 118-bus power system.

  20. 31 CFR 356.13 - When must I report my net long position and how do I calculate it?

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false When must I report my net long position and how do I calculate it? 356.13 Section 356.13 Money and Finance: Treasury Regulations Relating... net long position and how do I calculate it? (a) Net long position reporting threshold. (1) If you are...

  1. Net effects of gasoline price changes on transit ridership in U.S. urban areas.

    Science.gov (United States)

    2014-12-01

    Using panel data of transit ridership and gasoline prices for ten selected U.S. urbanized areas over the time period of 2002 to 2011, : this study analyzes the effect of gasoline prices on ridership of the four main transit modesbus, light rail, h...

  2. Moderating factors of immediate, gross, and net cross-brand effects of price promotions

    NARCIS (Netherlands)

    C. Horváth (Csilla); D. Fok (Dennis)

    2013-01-01

    textabstractThis article examines cross-price promotional effects in a dynamic context. Among other things, we investigate whether previously established findings hold when consumer and competitive dynamics are taken into account. Five main influential effects (asymmetric price effect, neighborhood

  3. CALPAN: A Microcomputer Program for Calculating Accounting Prices Using Input-Output Techniques. User's Manual

    OpenAIRE

    Elio H Londero; Roberto Soto

    2004-01-01

    CALPAN is a set of DOS programs for microcomputers, designed to calculate accounting price ratios using input-output techniques. It also serves to calculate domestic resource costs of foreign exchange and other useful preprogrammed operations, as well as to perform arithmetic operations with matrices. A ZIP file contains the manual in PDF format and the ecalpro.exe file with the program. To install the program run the ecalpro.exe file and when asked give the destination folder (e.g. c:/calpan...

  4. Existence of a current price as a precondition for abstract method for calculating damages in international and Serbian sales law

    Directory of Open Access Journals (Sweden)

    Fišer-Šobot Sandra

    2014-01-01

    Full Text Available If the contract is avoided and there is a current price for the goods, the party claiming damages may recover the difference between the price fixed by the contract and the current price at specific time and at specific place. Abstract calculation of loss is possible only when the contract goods have current price. Current price is the price generally charged for such goods sold under comparable circumstances in the trade concerned. According to the CISG and Serbian Law of Obligations, for the determination of the current price is relevant time of avoidance. This general rule is not applicable in international sales law when the party claiming damages has avoided the contract after taking over the goods. In that case, the current price at the time of taking over shall be applicable instead of the current price at the time of avoidance. Current price rule contained in the Art. 76(2 of the CISG presupposes that the current price is the price prevailing at the place where the delivery of the goods should have been made, or if there is no current price at the place, the price at such other place as serves as a reasonable substitute, making due allowance for differences in the cost of transporting the goods. Pursuant to Art. 524(2 Of Serbian Law of Obligations, however, relevant is the price in the market of the place of effecting the transaction. Formulation place of effecting the transaction is unclear and vague and can create different problems. Therefore, this rule should be amended and the relevant place should be the place of delivery.

  5. The impact of two pharmaceutical risk-sharing agreements on pricing, promotion, and net health benefits.

    Science.gov (United States)

    Zaric, Gregory S; Xie, Bin

    2009-01-01

    Health insurers are increasingly making use of risk-sharing agreements with drug manufacturers to manage uncertainties regarding the costs and effectiveness of new drugs. Several risk-sharing models exist including those based on sales volume, achievement of clinical thresholds, and achievement of cost-effectiveness thresholds. The objective of this article is to compare two risk-sharing arrangements and to investigate conditions under which each is preferable from the perspective of the payer and the manufacturer. We develop two two-period models to compare two risk-sharing arrangements between a payer and a drug manufacturer in which there is uncertainty about the effectiveness of the new drug. In the first risk-sharing agreement, the drug is listed on a formulary in the first period but delisted in the second period if the net monetary benefit in the first period is negative. In the second risk-sharing agreement, the manufacturer pays a rebate in each period if the net monetary benefit in that period is negative. We show that the relative performance of the two arrangements depends on several factors and that neither arrangement is always preferred. Additionally, we are able to identify situations in which a payer and a manufacturer would prefer the same plan and other situations in which the two parties would disagree on which plan was most desirable. Because neither risk-sharing arrangement is always preferred, payers and manufacturers must carefully consider the characteristics of their individual situation when entering into such contracts.

  6. Calculating the Price for Derivative Financial Assets of Bessel Processes Using the Sturm-Liouville Theory

    Directory of Open Access Journals (Sweden)

    Burtnyak Ivan V.

    2017-06-01

    Full Text Available In the paper we apply the spectral theory to find the price for derivatives of financial assets assuming that the processes described are Markov processes and such that can be considered in the Hilbert space L^2 using the Sturm-Liouville theory. Bessel diffusion processes are used in studying Asian options. We consider the financial flows generated by the Bessel diffusions by expressing them in terms of the system of Bessel functions of the first kind, provided that they take into account the linear combination of the flow and its spatial derivative. Such expression enables calculating the size of the market portfolio and provides a measure of the amount of internal volatility in the market at any given moment, allows investigating the dynamics of the equity market. The expansion of the Green function in terms of the system of Bessel functions is expressed by an analytic formula that is convenient in calculating the volume of financial flows. All assumptions are natural, result in analytic formulas that are consistent with the empirical data and, when applied in practice, adequately reflect the processes in equity markets.

  7. Optimal transfer, ordering and payment policies for joint supplier-buyer inventory model with price-sensitive trapezoidal demand and net credit

    Science.gov (United States)

    Shah, Nita H.; Shah, Digeshkumar B.; Patel, Dushyantkumar G.

    2015-07-01

    This study aims at formulating an integrated supplier-buyer inventory model when market demand is variable price-sensitive trapezoidal and the supplier offers a choice between discount in unit price and permissible delay period for settling the accounts due against the purchases made. This type of trade credit is termed as 'net credit'. In this policy, if the buyer pays within offered time M1, then the buyer is entitled for a cash discount; otherwise the full account must be settled by the time M2; where M2 > M1 ⩾ 0. The goal is to determine the optimal selling price, procurement quantity, number of transfers from the supplier to the buyer and payment time to maximise the joint profit per unit time. An algorithm is worked out to obtain the optimal solution. A numerical example is given to validate the proposed model. The managerial insights based on sensitivity analysis are deduced.

  8. 13 CFR 134.608 - What are the special rules for calculating net worth and number of employees?

    Science.gov (United States)

    2010-01-01

    ... unincorporated business, or a partnership, corporation, association, organization, or unit of local government... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false What are the special rules for calculating net worth and number of employees? 134.608 Section 134.608 Business Credit and Assistance SMALL...

  9. A more accurate formula for calculating the net longwave radiation flux in the Baltic Sea

    Directory of Open Access Journals (Sweden)

    Tomasz Zapadka

    2007-12-01

    Full Text Available A new, more accurate formula for calculating the net longwave radiation fluxLW ↑↓ has been devised for the Baltic Sea region. To this end,the following sets of simultaneously measured data regarding the longwave radiation of the sea andthe atmosphere were used: the temperatures of the sea surface and its contiguous air layer,the water vapour pressure in the air above the water, and the cloud cover.These data were gathered during numerous research cruises in the Baltic in 2000-03 and were supplemented by satellitedata from Karlsson (2001 characterising the cloud cover over the whole Baltic. The formulaestablished for LW ↑↓ can be written in the form of three alternative equations,differing with respect to their cloud cover functions:LW ↑↓ =0.985σT4s - σT4a (0.685+0.00452e{(1 + d n2 average for all cloud types (Z1(1 + din2 separately for low-, mid- and high-level clouds (Z2(1 + dinϒi separately for low-, mid- and high-level clouds (Z3where σ - Stefan-Boltzmann constant; Ts - sea surface temperature [K]; Ta - air temperature [K]; e - water vapour pressure [mbar]; n - total cloud amount [0 - 1]; d - mean empirical dimensionless coefficient, determined for all cloud types or for particular months (see Tables 3 and 4; da - empirical coefficient determined for the quadratic function: d1 = 0.39 for low-level clouds, d2 = 0.305 for mid-level clouds, d3 = 0.22 for high-level clouds; di - empirical coefficient determined as follows: d1 = 0.39 for low-level clouds when γ1 = 1.3, d2 = 0.29 for mid-level clouds when γ2 = 1.1; d3 = 0.17 for high-level clouds when γ3 = 0.96. The improved accuracy of this formula (RMSE ≅ 10 W m-2 is due chiefly to the establishment of functions and coefficients characterising the cloud cover over the Baltic in particular months of the year and their incorporation into it.

  10. NetSeed: a network-based reverse-ecology tool for calculating the metabolic interface of an organism with its environment.

    Science.gov (United States)

    Carr, Rogan; Borenstein, Elhanan

    2012-03-01

    NetSeed is a web tool and Perl module for analyzing the topology of metabolic networks and calculating the set of exogenously acquired compounds. NetSeed is based on the seed detection algorithm, developed and validated in previous studies. The NetSeed web-based tool, open-source Perl module, examples and documentation are freely available online at: http://depts.washington.edu/elbogs/NetSeed.

  11. The Influence of Output Variability from Renewable Electricity Generation on Net Energy Calculations

    Directory of Open Access Journals (Sweden)

    Hannes Kunz

    2014-01-01

    Full Text Available One key approach to analyzing the feasibility of energy extraction and generation technologies is to understand the net energy they contribute to society. These analyses most commonly focus on a simple comparison of a source’s expected energy outputs to the required energy inputs, measured in the form of energy return on investment (EROI. What is not typically factored into net energy analysis is the influence of output variability. This omission ignores a key attribute of biological organisms and societies alike: the preference for stable returns with low dispersion versus equivalent returns that are intermittent or variable. This biologic predilection for stability, observed and refined in academic financial literature, has a direct relationship to many new energy technologies whose outputs are much more variable than traditional energy sources. We investigate the impact of variability on net energy metrics and develop a theoretical framework to evaluate energy systems based on existing financial and biological risk models. We then illustrate the impact of variability on nominal energy return using representative technologies in electricity generation, with a more detailed analysis on wind power, where intermittence and stochastic availability of hard-to-store electricity will be factored into theoretical returns.

  12. Net charge changes in the calculation of relative ligand-binding free energies via classical atomistic molecular dynamics simulation.

    Science.gov (United States)

    Reif, Maria M; Oostenbrink, Chris

    2014-01-30

    The calculation of binding free energies of charged species to a target molecule is a frequently encountered problem in molecular dynamics studies of (bio-)chemical thermodynamics. Many important endogenous receptor-binding molecules, enzyme substrates, or drug molecules have a nonzero net charge. Absolute binding free energies, as well as binding free energies relative to another molecule with a different net charge will be affected by artifacts due to the used effective electrostatic interaction function and associated parameters (e.g., size of the computational box). In the present study, charging contributions to binding free energies of small oligoatomic ions to a series of model host cavities functionalized with different chemical groups are calculated with classical atomistic molecular dynamics simulation. Electrostatic interactions are treated using a lattice-summation scheme or a cutoff-truncation scheme with Barker-Watts reaction-field correction, and the simulations are conducted in boxes of different edge lengths. It is illustrated that the charging free energies of the guest molecules in water and in the host strongly depend on the applied methodology and that neglect of correction terms for the artifacts introduced by the finite size of the simulated system and the use of an effective electrostatic interaction function considerably impairs the thermodynamic interpretation of guest-host interactions. Application of correction terms for the various artifacts yields consistent results for the charging contribution to binding free energies and is thus a prerequisite for the valid interpretation or prediction of experimental data via molecular dynamics simulation. Analysis and correction of electrostatic artifacts according to the scheme proposed in the present study should therefore be considered an integral part of careful free-energy calculation studies if changes in the net charge are involved. © The Authors Journal of Computational Chemistry

  13. Existence of a current price as a precondition for abstract method for calculating damages in international and Serbian sales law

    National Research Council Canada - National Science Library

    Fišer-Šobot Sandra

    2014-01-01

    If the contract is avoided and there is a current price for the goods, the party claiming damages may recover the difference between the price fixed by the contract and the current price at specific...

  14. Do multinationals beat down developing countries' export prices? The impact of FDI on net barter terms of trade

    OpenAIRE

    Wacker, Konstantin M.

    2011-01-01

    This paper explores the economic relationship between foreign direct investment to developing countries and the export prices of the latter, measured by terms of trade. It is first shown that economic theory suggests such a relationship for various reasons but is inconclusive about the direction of the effect. To address this open issue empirically, I analyze data on more than 50 developing countries throughout the period 1980 - 2008 using dynamic panel data methods. The results show that mul...

  15. Application of Risk within Net Present Value Calculations for Government Projects

    Science.gov (United States)

    Grandl, Paul R.; Youngblood, Alisha D.; Componation, Paul; Gholston, Sampson

    2007-01-01

    In January 2004, President Bush announced a new vision for space exploration. This included retirement of the current Space Shuttle fleet by 2010 and the development of new set of launch vehicles. The President's vision did not include significant increases in the NASA budget, so these development programs need to be cost conscious. Current trade study procedures address factors such as performance, reliability, safety, manufacturing, maintainability, operations, and costs. It would be desirable, however, to have increased insight into the cost factors behind each of the proposed system architectures. This paper reports on a set of component trade studies completed on the upper stage engine for the new launch vehicles. Increased insight into architecture costs was developed by including a Net Present Value (NPV) method and applying a set of associated risks to the base parametric cost data. The use of the NPV method along with the risks was found to add fidelity to the trade study and provide additional information to support the selection of a more robust design architecture.

  16. Design of a Software for Calculating Isoelectric Point of a Polypeptide According to Their Net Charge Using the Graphical Programming Language LabVIEW

    Science.gov (United States)

    Tovar, Glomen

    2018-01-01

    A software to calculate the net charge and to predict the isoelectric point (pI) of a polypeptide is developed in this work using the graphical programming language LabVIEW. Through this instrument the net charges of the ionizable residues of the chains of the proteins are calculated at different pH values, tabulated, pI is predicted and an Excel…

  17. Pricing the Future in the Seventeenth Century: Calculating Technologies in Competition.

    Science.gov (United States)

    Deringer, William

    Time is money. But how much? What is money in the future worth to you today? This question of "present value" arises in myriad economic activities, from valuing financial securities to real estate transactions to governmental cost-benefit analysis-even the economics of climate change. In modern capitalist practice, one calculation offers the only "rational" way to answer: compound-interest discounting. In the early modern period, though, economic actors used at least two alternative calculating technologies for thinking about present value, including a vernacular technique called years purchase and discounting by simple interest. All of these calculations had different strengths and affordances, and none was unquestionably better or more "rational" than the others at the time. The history of technology offers distinct resources for understanding such technological competitions, and thus for understanding the emergence of modern economic temporality.

  18. Is College Pricing Power Pro-Cyclical?

    Science.gov (United States)

    Altringer, Levi; Summers, Jeffrey

    2015-01-01

    We define pricing power as a college's ability to increase its net tuition revenue by raising its sticker-price for tuition. The greater is the positive effect of sticker-price increases on net tuition revenue, the greater is the pricing power. We gauge variation in the pricing power of private, non-profit baccalaureate colleges by estimating this…

  19. Price of Water

    Science.gov (United States)

    Survilo, Josifs; Boreiko, Dmitrijs

    2009-01-01

    There are watercourses on the globe which as yet do not deliver up their energy to the needs of the people. How much energy their waters bear, is it worth to take away this energy? Those and alike questions must be (and they are) answered before start to build hydro power station. Similar problems must be solved to control hydro power plants in most gainful way which is known as hydrothermal coordination. The notion of price of water can be met lately in technical literature as one of numerical indices of these issues. The gross price of water and net price of water are considered in this paper. Gross price of 1 t water is the price of electric energy obtained by conversion of potential energy of 1 t of water, lifted to a height of power station water head. Net price of water is the difference between gross price and total expenses determined by hydro power station building and its exploitation costs in a year related to 1 m3 of water. If net price of water is positive, it is worth building power station. The greater net price is, the more urgent is the building. Net price of water grows with water head but it continues only to some height of the dam because further increase of head sharply increases capital outlay and other exploitation expenses. To maximize net price of water, optimization of net price function can be done. Net price of water diminishes when some amount of water is diverted for other needs. When amount of diverted water is out of discussion, no controversy can emerge. However when by diverted water some goods with some monetary worth can be obtained, the task must be solved how much water can be diverted so that the water of watercourse be used to the maximum benefit. The environmental issues must be taken into account as well.

  20. Inferring CO2 Fluxes from OCO-2 for Assimilation into Land Surface Models to Calculate Net Ecosystem Exchange

    Science.gov (United States)

    Prouty, R.; Radov, A.; Halem, M.; Nearing, G. S.

    2016-12-01

    Investigations of mid to high latitude atmospheric CO2 show a growing seasonal amplitude. Land surface models poorly predict net ecosystem exchange (NEE) and are unable to substantiate these sporadic observations. An investigation of how the biosphere has reacted to changes in atmospheric CO2 is essential to our understanding of potential climate-vegetation feedbacks. A global, seasonal investigation of CO2-flux is then necessary in order to assimilate into land surface models for improving the prediction of annual NEE. The Atmospheric Radiation Measurement program (ARM) of DOE collects CO2-flux measurements (in addition to CO2 concentration and various other meteorological quantities) at several towers located around the globe at half hour temporal frequencies. CO2-fluxes are calculated via the eddy covariance technique, which utilizes CO2-densities and wind velocities to calculate CO2-fluxes. The global coverage of CO2 concentrations as provided by the Orbiting Carbon Observatory (OCO-2) provide satellite-derived CO2 concentrations all over the globe. A framework relating the satellite-inferred CO2 concentrations collocated with the ground-based ARM as well as Ameriflux stations would enable calculations of CO2-fluxes far from the station sites around the entire globe. Regression techniques utilizing deep-learning neural networks may provide such a framework. Additionally, meteorological reanalysis allows for the replacement of the ARM multivariable meteorological variables needed to infer the CO2-fluxes. We present the results of inferring CO2-fluxes from OCO-2 CO2 concentrations for a two year period, Sept. 2014- Sept. 2016 at the ARM station located near Oklahoma City. A feed-forward neural network (FFNN) is used to infer relationships between the following data sets: F([ARM CO2-density], [ARM Meteorological Data]) = [ARM CO2-Flux] F([OCO-2 CO2-density],[ARM Meteorological Data]) = [ARM CO2-Flux] F([ARM CO2-density],[Meteorological Reanalysis]) = [ARM CO2-Flux

  1. Calculating net primary productivity of forest ecosystem with G4M model: case study on South Korea

    Science.gov (United States)

    Sung, S.; Forsell, N.; Kindermann, G.; Lee, D. K.

    2015-12-01

    Net primary productivity (NPP) is considered as an important indicator for forest ecosystem since the role of forest is highlighted as a stepping stone for mitigating climate change. Especially rapidly urbanizing countries which have high carbon dioxide emission have large interest in calculating forest NPP under climate change. Also maximizing carbon sequestration in forest sector has became a global goal to minimize the impacts of climate change. Therefore, the objective of this research is estimating carbon stock change under the different climate change scenarios by using G4M (Global Forestry Model) model in South Korea. We analyzed four climate change scenarios in different Representative Concentration Pathway (RCP). In this study we used higher resolution data (1kmx1km) to produce precise estimation on NPP from regionalized four climate change scenarios in G4M model. Finally, we set up other environmental variables for G4M such as water holding capacity, soil type and elevation. As a result of this study, temperature showed significant trend during 2011 to 2100. Average annual temperature increased more than 5℃ in RCP 8.5 scenario while 1℃ increased in RCP 2.6 scenario. Each standard deviation of the annual average temperature showed similar trend. Average annual precipitation showed similarity within four scenarios. However the standard deviation of average annual precipitation is higher in RCP8.5 scenario which indicates the ranges of precipitation is wider in RCP8.5 scenario. These results present that climate indicators such as temperature and precipitation have uncertainties in climate change scenarios. NPP has changed from 5-13tC/ha/year in RCP2.6 scenario to 9-21 tC/ha/year in RCP8.5 scenario in 2100. In addition the spatial distribution of NPP presented different trend among the scenarios. In conclusion we calculated differences in temperature and precipitation and NPP change in different climate change scenarios. This study can be applied for

  2. PRICE AND PRICING STRATEGIES

    OpenAIRE

    Titus SUCIU

    2013-01-01

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

  3. Prices and Price Setting

    NARCIS (Netherlands)

    R.P. Faber (Riemer)

    2010-01-01

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

  4. Comparison of Quantitative Analysis of Image Logs for Shale Volume and Net to Gross Calculation of a Thinly Laminated Reservoir between VNG-NERGE and LAGIA-EGYPT

    Directory of Open Access Journals (Sweden)

    Ahmed Z. Nooh

    2017-09-01

    The gamma ray log data resolution is considerably lower than the FMI log to reflect accurate lithology changes in thinly bedded reservoirs. It has been found afterthought some calibrations and corrections on the FMI resistivity log, the new processed log is used for clay volume and net to gross calculation of the reservoir, indicating the potential of this log for analysis of thin beds. A comparison between VNG-NERGE, NORTH SEA WELL, NERWING and LAGIA-8, LAGIA, EGYPT indicates the calculation for shale volume at different intervals using FMI tools.

  5. Comparison of the effects of conditional food and cash transfers of the Ethiopian Productive Safety Net Program on household food security and dietary diversity in the face of rising food prices: ways forward for a more nutrition-sensitive program.

    Science.gov (United States)

    Baye, Kaleab; Retta, Negussie; Abuye, Cherinet

    2014-09-01

    In light of the continuing rise in food prices during and after the 2008 world food crisis, whether food and cash transfers are equally effective in improving food security and diet quality is debatable. To compare the effects of conditional food and cash transfers of the Ethiopian Productive Safety Net Program (PSNP) on household food security and dietary diversity. Data on household dietary diversity, child anthropometry, food security, and preference of transfer modalities (food, cash, or mixed) were generated from a cross-sectional survey of 195 PSNP beneficiary households (67 receiving food and 128 receiving cash) in Hawella Tulla District, Sidama, southern Ethiopia. Most beneficiaries (96%) reported food shortages, and 47% reported food shortages that exceeded 3 months. Households receiving cash had better household dietary diversity scores (p = .02) and higher consumption of oils and fats (p = .003) and vitamin A-rich foods (p = .002). Compared with households receiving food, households receiving cash were more affected by increases in food prices that forced them to reduce their number of daily meals (p food (82%) preferred to continue receiving food, households receiving cash (56%) preferred a mix of food and cash. Households receiving cash had better household dietary diversity than households receiving food, a result suggesting that cash transfers may be more effective. However, the continuing rise infood prices may offset these benefits unless cash transfers are index-linked to food price fluctuations.

  6. Design of a software for calculating isoelectric point of a polypeptide according to their net charge using the graphical programming language LabVIEW.

    Science.gov (United States)

    Tovar, Glomen

    2018-01-01

    A software to calculate the net charge and to predict the isoelectric point (pI) of a polypeptide is developed in this work using the graphical programming language LabVIEW. Through this instrument the net charges of the ionizable residues of the polypeptide chains of the proteins are calculated at different pH values, tabulated, pI is predicted and an Excel (-xls) type file is generated. In this work, the experimental values of the pIs (pI) of different proteins are compared with the values of the pIs (pI) calculated graphically, achieving a correlation coefficient (R) of 0.934746 which represents a good reliability for a p program can constitute an instrument applicable in the laboratory, facilitating the calculation to graduate students and junior researchers. © 2017 by The International Union of Biochemistry and Molecular Biology, 46(1):39-46, 2018. © 2017 The International Union of Biochemistry and Molecular Biology.

  7. Program NetMoment; Simultaneous Calculation of Moment, Source Corner Frequency, and Site Specific t* from Network Recordings

    Energy Technology Data Exchange (ETDEWEB)

    Hutchings, L

    2001-12-12

    The purpose of computer program NetMoment (Appendix I) is to utilize fundamental knowledge of earthquake sources, propagation attenuation, and site response in a simultaneous inversion of network data to determine the moment and source corner frequency of earthquakes, and site specific t*. The source parameters are especially difficult to determine for small earthquakes. A fundamental problem in determining the source corner frequencies of small earthquakes is that site response can result in spectral corner frequencies in the range that may be expected from the earthquakes themselves. Several authors have identified this as fmax (Hanks, 1982), a constant corner frequency for small events so that below threshold moment (about 1.0 x 10{sup 21} dyne-cm) the corner frequency remains constant the size of events diminishes. Hutchings and Wu (1990) found that for the southern California region, events with moment less than about 1.5 x 10{sup 21} dyne-cm (about magnitude 3.4) show no source effect in their spectra. Hanks (1982) found the threshold to be about 1.0 x l0{sup 21} dyne-cm for other southern California sites. Baise et al. (2002) found borehole recordings on Yerba Buena Island, in San Francisco Bay, to have corner frequencies limited to about 3-5 Hz for M < 4.0 earthquakes in the region. Some authors have attributed this to a minimum source dimension for earthquakes, which results in a decrease in stress drop for smaller events (Archuleta et al., 1982; Papageorgiou and Aki, 1983). alternative explanation is that the constant corner frequencies result from whole path or near site attenuation and/or amplifications due to soil response. This is supported by a wide body of literature (Anderson and Hough, 1984, Hutchings and Wu, 1990, Blakeslee and Malin, 1991; Aster and Shearer, 1991; Abercrombie, 1995). Abercrombie, for example, estimated source corner frequencies from events recorded in granite at a depth of 2.5 Km in the Cajon Pass scientific drill hole and

  8. The criteria for setting the natural gas reference price for purposes of government take calculation; Os criterios para fixacao do preco de referencia do gas natural para fins de calculo das participacoes governamentais

    Energy Technology Data Exchange (ETDEWEB)

    Lima, Flavio Augusto Pimentel de; Rosa, Renata Gualberto Cordeiro [PETROBRAS, Rio de Janeiro, RJ (Brazil)

    2008-07-01

    The Petroleum Law states that the concession contract will also have provisions regarding the government takes established by the bid tender. However, the criteria for calculating the value of Royalties are set forth in the Decree 2.705/98, enacted to set such criteria, taking into account the volumes of production and the reference prices for oil and natural gas. The following aspects are analyzed in this paper: the method for calculating the volumes subject to the impact of Royalties; definition of the reference price for natural gas, the general rule for setting up the reference price in case the sale was made at market price; the special rule in case the sale was not made on a market basis, in case there is no sale or in case of breach of the conditions set in that Decree; and the settlement of the reference price in situations where only part of the volumes produced are sold on contracts that meet the requirements of the Decree. In conclusion the problems caused by gaps in legislation will be highlighted, particularly with regard to concessions granted to consortia as well as the inconsistencies between the applicable legislation, which may provide different analysis, including by the ANP, according to the features of each case. (author)

  9. Inventories and upstream gasoline price dynamics

    NARCIS (Netherlands)

    Kuper, Gerard H.

    This paper sheds new light on the asymmetric dynamics in upstream U.S. gasoline prices. The model is based on Pindyck's inventory model of commodity price dynamics. We show that asymmetry in gasoline price dynamics is caused by changes in the net marginal convenience yield: higher costs of marketing

  10. Valuing Trial Designs from a Pharmaceutical Perspective Using Value-Based Pricing.

    Science.gov (United States)

    Breeze, Penny; Brennan, Alan

    2015-11-01

    Our aim was to adapt the traditional framework for expected net benefit of sampling (ENBS) to be more compatible with drug development trials from the pharmaceutical perspective. We modify the traditional framework for conducting ENBS and assume that the price of the drug is conditional on the trial outcomes. We use a value-based pricing (VBP) criterion to determine price conditional on trial data using Bayesian updating of cost-effectiveness (CE) model parameters. We assume that there is a threshold price below which the company would not market the new intervention. We present a case study in which a phase III trial sample size and trial duration are varied. For each trial design, we sampled 10,000 trial outcomes and estimated VBP using a CE model. The expected commercial net benefit is calculated as the expected profits minus the trial costs. A clinical trial with shorter follow-up, and larger sample size, generated the greatest expected commercial net benefit. Increasing the duration of follow-up had a modest impact on profit forecasts. Expected net benefit of sampling can be adapted to value clinical trials in the pharmaceutical industry to optimise the expected commercial net benefit. However, the analyses can be very time consuming for complex CE models. © 2014 The Authors. Health Economics published by John Wiley & Sons Ltd.

  11. Net Zero Energy Buildings

    DEFF Research Database (Denmark)

    Marszal, Anna Joanna; Bourrelle, Julien S.; Musall, Eike

    2010-01-01

    and identify possible renewable energy supply options which may be considered in calculations. Finally, the gap between the methodology proposed by each organisation and their respective national building code is assessed; providing an overview of the possible changes building codes will need to undergo......The international cooperation project IEA SHC Task 40 / ECBCS Annex 52 “Towards Net Zero Energy Solar Buildings”, attempts to develop a common understanding and to set up the basis for an international definition framework of Net Zero Energy Buildings (Net ZEBs). The understanding of such buildings...... parameters used in the calculations are discussed and the various renewable supply options considered in the methodologies are summarised graphically. Thus, the paper helps to understand different existing approaches to calculate energy balance in Net ZEBs, highlights the importance of variables selection...

  12. Transfer Pricing

    DEFF Research Database (Denmark)

    Nielsen, Søren Bo

    2014-01-01

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

  13. Antimicrobial price variation: Conundrum of medical profession!

    Directory of Open Access Journals (Sweden)

    Rataboli P

    2007-01-01

    Full Text Available Pharmacoeconomics plays a pivotal role in clinical practice. High medicine prices can adversely affect a patient′s finances and compliance. The Indian pharmaceutical industry has become a cornucopia of medicines with wide variation in prices for the same medicine marketed under different brand names. Price list of available antimicrobial brands was procured from a commercial drug directory. Average price of widely prescribed oral antimicrobials was found and price variation between different brands was calculated. The variation in medicine prices was found to be from 95% lower to more than 350% higher than the average price. Implications of price variation in clinical practice are discussed and remedial measures suggested.

  14. Oil price and the dollar

    Energy Technology Data Exchange (ETDEWEB)

    Coudert, V. [Banque de France, Paris (France); Mignon, V. [Paris Univ., Paris (France). Economix-CNRS; Penot, A. [Lyon Univ., Lyon (France). CNRS

    2007-10-01

    Oil prices and the United States (US) dollar exchange rate are driving the evolution of the world economy. This paper investigated long-term relationships between oil prices and the US effective exchange rate. An empirical study was performed on oil prices and the dollar real effective exchange rate between 1974 to 2004. The impact of the dollar exchange rate was also explored, and the effects of oil prices on supply and demand were considered. A dynamic partial equilibrium framework study was evaluated in order to compare how other countries used revenues from oil exports in dollars. The study showed that both variables had similar evolutions when price fluctuations were low. Strong increases in the dollar were associated with lower oil prices. However, adjustment speeds of the dollar real effective exchange rate was slow. Co-integration and causality tests showed that oil prices influenced the exchange rate, and that the link between the 2 variables was transmitted through the country's net foreign asset position. It was concluded that higher oil prices improved US net foreign asset position in relation to other countries, and had a positive impact on dollar appreciation. 24 refs., 6 tabs., 1 fig.

  15. Price Competition on Graphs

    OpenAIRE

    Heijnen, Pim; Soetevent, Adriaan

    2014-01-01

    This paper extends Hotelling's model of price competition with quadratic transportation costs from a line to graphs. We derive an algorithm to calculate firm-level demand for any given graph, conditional on prices and firm locations. These graph models of price competition may lead to spatial discontinuities in firm-level demand. We show that the existence result of D'Aspremont et al. (1979) does not extend to simple star graphs and conjecture that this non-existence result holds more general...

  16. Net Locality

    DEFF Research Database (Denmark)

    de Souza e Silva, Adriana Araujo; Gordon, Eric

    Provides an introduction to the new theory of Net Locality and the profound effect on individuals and societies when everything is located or locatable. Describes net locality as an emerging form of location awareness central to all aspects of digital media, from mobile phones, to Google Maps...... of emerging technologies, from GeoCities to GPS, Wi-Fi, Wiki Me, and Google Android....

  17. Net Neutrality

    DEFF Research Database (Denmark)

    Savin, Andrej

    2017-01-01

    Repealing “net neutrality” in the US will have no bearing on Internet freedom or security there or anywhere else.......Repealing “net neutrality” in the US will have no bearing on Internet freedom or security there or anywhere else....

  18. Pricing of new vaccines.

    Science.gov (United States)

    Lee, Bruce Y; McGlone, Sarah M

    2010-08-01

    New vaccine pricing is a complicated process that could have substantial long-standing scientific, medical, and public health ramifications. Pricing can have a considerable impact on new vaccine adoption and, thereby, either culminate or thwart years of research and development and public health efforts. Typically, pricing strategy consists of the following ten components: 1. Conduct a target population analysis; 2. Map potential competitors and alternatives; 3. Construct a vaccine target product profile (TPP) and compare it to projected or actual TPPs of competing vaccines; 4. Quantify the incremental value of the new vaccine's characteristics; 5. Determine vaccine positioning in the marketplace; 6. Estimate the vaccine price-demand curve; 7. Calculate vaccine costs (including those of manufacturing, distribution, and research and development); 8. Account for various legal, regulatory, third party payer, and competitor factors; 9. Consider the overall product portfolio; 10. Set pricing objectives; 11. Select pricing and pricing structure. While the biomedical literature contains some studies that have addressed these components, there is still considerable room for more extensive evaluation of this important area.

  19. Transfer Pricing

    DEFF Research Database (Denmark)

    Rohde, Carsten; Rossing, Christian Plesner

    trade internally as the units have to decide what prices should be paid for such inter-unit transfers. One important challenge is to uncover the consequences that different transfer prices have on the willingness in the organizational units to coordinate activities and trade internally. At the same time...

  20. The aims of transfer prices formation

    Directory of Open Access Journals (Sweden)

    Tomašević Stevan

    2013-01-01

    Full Text Available More than two-thirds of today's world trade comprises of transactions between related legal persons. Prices for the above-mentioned transactions within legal person or group of related legal persons are called transfer pricing. The aim of this paper is to present the transfer prices as well as the main objectives of transfer pricing. Also, this paper explains application of transfer pricing in the Republic of Serbia and the normative rules that cover the issue of transfer pricing, their determination and their application in the calculation. Overall, there has been a great deal of attention paid to the transfer pricing in national and international levels.

  1. Praktische kostprijs biologische melk = Practical cost price of organic milk

    NARCIS (Netherlands)

    Evers, A.G.; Haan, de M.H.A.; Water, K.; Jager, J.H.

    2008-01-01

    In this report a calculation methodology was developed for defining the cost price of organic dairy products. This price is based on broad support, practical data and provides a practical cost price for organic milk production.

  2. Rising food prices and household food security

    African Journals Online (AJOL)

    food prices can exacerbate poverty, inequality and food insecurity when the poor are net food consumers (consume more than they produce),4 which is the .... Darmon N, Drewnoski A. Contribution of food prices and diet cost to socioeconomic disparities in diet quality and health: a systematic review and analysis. Nutrition.

  3. Higher fuel and food prices

    DEFF Research Database (Denmark)

    Arndt, Channing; Benfica, Rui; Maximiano, Nelson

    2008-01-01

    analysis indicates that urban households and households in the southern region are more vulnerable to food price increases. Rural households, particularly in the North and Center, often benefit from being in a net seller position. Longer-term analysis using a computable general equilibrium (CGE) model...

  4. Price increase

    CERN Multimedia

    2005-01-01

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

  5. Price increase

    CERN Multimedia

    2006-01-01

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

  6. Impact of external price referencing on medicine prices - a price comparison among 14 European countries.

    Science.gov (United States)

    Leopold, Christine; Mantel-Teeuwisse, Aukje Katja; Seyfang, Leonhard; Vogler, Sabine; de Joncheere, Kees; Laing, Richard Ogilvie; Leufkens, Hubert

    2012-12-01

    This study aims to examine the impact of external price referencing (EPR) on on-patent medicine prices, adjusting for other factors that may affect price levels such as sales volume, exchange rates, gross domestic product (GDP) per capita, total pharmaceutical expenditure (TPE), and size of the pharmaceutical industry. Price data of 14 on-patent products, in 14 European countries in 2007 and 2008 were obtained from the Pharmaceutical Price Information Service of the Austrian Health Institute. Based on the unit ex-factory prices in EURO, scaled ranks per country and per product were calculated. For the regression analysis the scaled ranks per country and product were weighted; each country had the same sum of weights but within a country the weights were proportional to its sales volume in the year (data obtained from IMS Health). Taking the scaled ranks, several statistical analyses were performed by using the program "R", including a multiple regression analysis (including variables such as GDP per capita and national industry size). This study showed that on average EPR as a pricing policy leads to lower prices. However, the large variation in price levels among countries using EPR confirmed that the price level is not only driven by EPR. The unadjusted linear regression model confirms that applying EPR in a country is associated with a lower scaled weighted rank (p=0.002). This interaction persisted after inclusion of total pharmaceutical expenditure per capita and GDP per capita in the final model. The study showed that for patented products, prices are in general lower in case the country applied EPR. Nevertheless substantial price differences among countries that apply EPR could be identified. Possible explanations could be found through a correlation between pharmaceutical industry and the scaled price ranks. In conclusion, we found that implementing external reference pricing could lead to lower prices.

  7. Impact of External Price Referencing on Medicine Prices – A Price Comparison Among 14 European Countries

    Science.gov (United States)

    Leopold, Christine; Mantel-Teeuwisse, Aukje Katja; Seyfang, Leonhard; Vogler, Sabine; de Joncheere, Kees; Laing, Richard Ogilvie; Leufkens, Hubert

    2012-01-01

    Objectives: This study aims to examine the impact of external price referencing (EPR) on on-patent medicine prices, adjusting for other factors that may affect price levels such as sales volume, exchange rates, gross domestic product (GDP) per capita, total pharmaceutical expenditure (TPE), and size of the pharmaceutical industry. Methods: Price data of 14 on-patent products, in 14 European countries in 2007 and 2008 were obtained from the Pharmaceutical Price Information Service of the Austrian Health Institute. Based on the unit ex-factory prices in EURO, scaled ranks per country and per product were calculated. For the regression analysis the scaled ranks per country and product were weighted; each country had the same sum of weights but within a country the weights were proportional to its sales volume in the year (data obtained from IMS Health). Taking the scaled ranks, several statistical analyses were performed by using the program “R”, including a multiple regression analysis (including variables such as GDP per capita and national industry size). Results: This study showed that on average EPR as a pricing policy leads to lower prices. However, the large variation in price levels among countries using EPR confirmed that the price level is not only driven by EPR. The unadjusted linear regression model confirms that applying EPR in a country is associated with a lower scaled weighted rank (p=0.002). This interaction persisted after inclusion of total pharmaceutical expenditure per capita and GDP per capita in the final model. Conclusions: The study showed that for patented products, prices are in general lower in case the country applied EPR. Nevertheless substantial price differences among countries that apply EPR could be identified. Possible explanations could be found through a correlation between pharmaceutical industry and the scaled price ranks. In conclusion, we found that implementing external reference pricing could lead to lower prices. PMID

  8. The Calculation of Rural Urban Food Price Differentials from Unit Values in Household Expenditure Surveys: A new procedure and comparison with existing methods

    OpenAIRE

    Amita Majumder; Ranjan Ray; Kompal Sinha

    2011-01-01

    While national and international statistical agencies spend much resource on calculating purchasing power parity (PPP) between countries, relatively little attention is given to PPP calculations within countries. Yet, for large and heterogeneous countries, such as the US and India, intra country PPP is as important as cross-country PPP. This is particularly true of the rural urban divide in such countries where the idea that one unit of currency has the same purchasing power in both sectors i...

  9. TRADING ACTIVITY AND PRICES IN ENERGY FUTURES MARKET

    Directory of Open Access Journals (Sweden)

    Aysegul Ates

    2016-04-01

    Full Text Available This paper aims to examine trading activity and the relationship between futures trading activity by trader type and energy price movements in three energy futures markets –natural gas, crude oil and heating oil. We find that the level of net positions of speculators are positively related to future returns and in contrast net positions of hedgers are negatively related to futures price changes in all three markets. The changes in net positions are relatively more informative compare to the level of net positions in predicting price changes in related markets.

  10. Prices and pricing in the energy sector. From calculation to implemention of prices for electricity, gas, district heating, water and CO{sub 2}; Preise und Preisgestaltung in der Energiewirtschaft. Von der Kalkulation bis zur Umsetzung von Preisen fuer Strom, Gas, Fernwaerme, Wasser und CO{sub 2}

    Energy Technology Data Exchange (ETDEWEB)

    Zenke, Ines [BBH Becker Buettner Held, Berlin (Germany); Hochschule fuer nachhaltige Entwicklung Eberswalde (HNEE) (Germany); Wollschlaeger, Stefan [Becker Buettner Held, Hamburg (Germany).; Eder, Jost (ed.) [BBH Becker Buettner Held, Berlin (Germany)

    2015-07-01

    Hardly a question in the energy sector is currently so great discussion subject, such as the pricing of energy prices. The work provides practical answers to all questions. After a systematic introduction to the subject specialists and practitioners give an introduction to the specific rules applicable to each sector or value chain. Given is a comprehensive overview on the subject of prices in the energy sector as well as numerous practical examples, notes, options for action and formulating proposals. [German] Kaum eine Frage in der Energiewirtschaft ist derzeit so grossen Diskussionen unterworfen, wie die Preisgestaltung von Energieversorgungspreisen. Das Werk bietet praxisbezogene Antworten auf alle Fragen. Nach einer systematischen Einfuehrung in die Thematik fuehren ausgewiesene Fachleute und Praktiker in die fuer jede einzelne Sparte bzw. Wertschoepfungskette geltenden Besonderheiten ein. Gegeben wird ein umfassender Ueberblick zum Thema Preise in der Energiewirtschaft sowie zahlreiche praxisnahe Beispiele, Hinweise, Handlungsoptionen und Formulierungsvorschlaege.

  11. Trends in College Pricing, 2016. Trends in Higher Education Series

    Science.gov (United States)

    Ma, Jennifer; Baum, Sandy; Pender, Matea; Welch, Meredith

    2016-01-01

    In 2016-17, published tuition and fee prices rose slightly less than the year before. The rapid price growth observed during the Great Recession has abated, as typically happens when the economy recovers, but the rate of increase in tuition and fees continues to exceed inflation. More notable, however, is the pattern of the net prices students…

  12. Net energy of hemp hulls and processed hemp hull products fed to growing pigs and the comparison of net energy determined via indirect calorimetry and calculated from prediction equations.

    Science.gov (United States)

    Kim, J W; Nyachoti, C M

    2017-06-01

    An experiment was conducted to determine the NE of hemp hulls (HH), extruded HH (EHH), and a blended product of HH with pea (HHP) fed to growing pigs using indirect calorimetry (IC) and to determine effects of dietary fiber on heat production (HP) and fasting HP (FHP). Twenty-four growing barrows with an average initial BW of 22.9 ± 1.75 kg were individually housed in adjustable metabolism crates. Pigs were randomly allotted to 1 of 4 dietary treatments with 6 replicates per treatment. A corn-soybean meal basal diet was prepared. Three additional diets were formulated to contain a constant ratio of corn and soybean meal and each of the test ingredients. Pigs were fed experimental diets for 16 d including 10 d for adaptation and 6 d for total collection of feces and urine to determine DE and ME of experimental diets. Pigs were then moved into IC chambers to determine HP and FHP. The apparent total tract digestibility (ATTD) of DM was greater ( < 0.01) in the HHP diet than in the HH and EHH diets but less ( < 0.01) than in the basal diet. Similarly, the ATTD of GE in the basal diet was greater ( < 0.01) compared with the HH, EHH, and HHP diets. The DE, ME, and NE of the basal diet were greater ( < 0.01) than those of the HH, EHH, and HHP diets. No significant differences were observed for the HP (on average, 1,904 kcal/kg DM) and FHP (on average, 1,320 kcal/kg DM) among treatments. However, the retained energy of pigs fed the basal diet (1,763 kcal/kg DM) was greater ( < 0.05) than for those fed the HH (1,501 kcal/kg DM) and HHP (1,482 kcal/kg DM) diets. The NE:ME ratio tended to be greater ( ≤ 0.10) for the basal diet (0.85) than for the HH (0.82), EHH (0.82), and HHP (0.83) diets. The NE of HH, EHH, and HHP determined by the IC method were 2,375, 2,320, and 2,399 kcal/kg DM, respectively, whereas values calculated using published prediction equations were 2,308, 2,161, and 2,278 kcal/kg DM, respectively. However there was no difference between determined and

  13. RESTful NET

    CERN Document Server

    Flanders, Jon

    2008-01-01

    RESTful .NET is the first book that teaches Windows developers to build RESTful web services using the latest Microsoft tools. Written by Windows Communication Foundation (WFC) expert Jon Flanders, this hands-on tutorial demonstrates how you can use WCF and other components of the .NET 3.5 Framework to build, deploy and use REST-based web services in a variety of application scenarios. RESTful architecture offers a simpler approach to building web services than SOAP, SOA, and the cumbersome WS- stack. And WCF has proven to be a flexible technology for building distributed systems not necessa

  14. Price Fairness versus Pricing Fairness

    OpenAIRE

    Chapuis, Jean Michel

    2012-01-01

    International audience; This research note discusses the distinction between these two concepts of perceptions of fairness, based on the theory of distributive justice and procedural justice, in order to helps understand consumer behavior. With a sample of 250 tourists in French Polynesia and a structural equation model, tourists do not confuse price fairness and pricing fairness. The theoretical implications are that future research should use two distinct scales. For managers, the study sug...

  15. Norwegian electricity market liberalisation: questions of cost calculation and price definition by grid operators; Norwegische Elektrizitaetsmarktoeffnung: Kostenrechnungs- und Preisbildungsfragen der Netzgesellschaften

    Energy Technology Data Exchange (ETDEWEB)

    Wild, J.; Vaterlaus, S.

    2002-07-01

    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.

  16. Petri Nets

    Indian Academy of Sciences (India)

    Associate Professor of. Computer Science and. Automation at the Indian. Institute of Science,. Bangalore. His research interests are broadly in the areas of stochastic modeling and scheduling methodologies for future factories; and object oriented modeling. GENERAL I ARTICLE. Petri Nets. 1. Overview and Foundations.

  17. Petri Nets

    Indian Academy of Sciences (India)

    Home; Journals; Resonance – Journal of Science Education; Volume 4; Issue 8. Petri Nets - Overview and Foundations. Y Narahari. General Article Volume 4 Issue 8 August 1999 pp ... Author Affiliations. Y Narahari1. Department ot Computer Science and Automation, Indian Institute of Science, Bangalore 560 012, India.

  18. Calculating the price of tanks, vessels and process equipment of petrochemical industry second criteria of integrity and survival remaining of API RP 579 (Fitness for service); Calculo do preco de tanques, vasos e equipamentos de processo da industria petroquimica segundo criterios de integridade e sobrevida remanescente do API RP 579 (Fitness for service)

    Energy Technology Data Exchange (ETDEWEB)

    Morato, Paulo Cesar Vidal Morato [Petroleo Brasileiro S.A. (PETROBRAS), Rio de Janeiro, RJ (Brazil)

    2012-07-01

    By owning many tanks, vessels and process equipment, PETROBRAS has developed the concept of 'Fitness-For-Service' (suitability for use) under the standard API RP 579, i.e. to verify the structural integrity and remaining useful life of equipment in service. In this paper we will discuss how to calculate the remaining useful life of equipment used in accordance with such criteria and with this technical data, calculate the depreciated price. Steps: verification of applicability; surveys of the technical data of the equipment; surveys the minimum thickness of plating equipment over the years; calculation of the average annual rate of corrosion (tc); calculation of the required minimum thickness according to the criteria of API RP 579 (tr); calculation of remaining useful life (nr); calculation of the depreciated price (Vd) equipment. Conclusions: intended for evaluation of tanks price, vessels and process equipment according to API RP 579 concepts. Estimate the remaining useful life of equipment used and calculates the depreciated price. Scientific method based, consistent and robust, due to calculating established the remaining useful life. (author)

  19. The option to expand a project: its assessment with the binomial options pricing model

    Directory of Open Access Journals (Sweden)

    Salvador Cruz Rambaud

    Full Text Available Traditional methods of investment appraisal, like the Net Present Value, are not able to include the value of the operational flexibility of the project. In this paper, real options, and more specifically the option to expand, are assumed to be included in the project information in addition to the expected cash flows. Thus, to calculate the total value of the project, we are going to apply the methodology of the Net Present Value to the different scenarios derived from the existence of the real option to expand. Taking into account the analogy between real and financial options, the value of including an option to expand is explored by using the binomial options pricing model. In this way, estimating the value of the option to expand is a tool which facilitates the control of the uncertainty element implicit in the project. Keywords: Real options, Option to expand, Binomial options pricing model, Investment project appraisal

  20. Poverty, Policy and Price Transmission

    DEFF Research Database (Denmark)

    Elleby, Christian

    of the real food price process based on which dynamic forecasts and historical decompositions are calculated. Results indicate that, despite the low degree of pass-through from international to domestic rice prices, food prices in general grew as fast as expected or faster, given the surge......This thesis consists of four self-contained chapters in which different aspects of the relationship between international commodity markets and domestic food markets are explored. What motivates the analysis is the recent surge in international commodity prices and the controversy over the poverty...... impact of the 2007-8 ‘food crisis’, in particular. The first paper analyses, in a stylized economic model, how the response of domestic aggregate food prices to an international shock depends on features of the country’s income distribution. The model is based on a dichotomy between traded and purely...

  1. Access price regulation facilitates strategic transfer pricing

    OpenAIRE

    Fjell, Kenneth; Foros, Øystein

    2005-01-01

    Access price regulation is used in telecommunications to prevent that a vertically integrated firm, that controls an essential input, raises the rivals` costs. When the authorities remove the access price as a strategic tool, they at the same time make it optimal for the vertically integrated firm to reorganize from centralized pricing to decentralized pricing in order to use the transfer price as an alternative strategic device. To implement access price regulation, authorities use accountin...

  2. Price Asynchronization and Price Level Inertia

    OpenAIRE

    Blanchard, Olivier J.

    1982-01-01

    If price decisions are taken neither continuously nor in perfect synchronization, the process of adjustment of all prices to a new nominal level will imply temporary movements in relative prices. It might then well be that, to avoid these movements in relative prices, each price setter will want to move his own price slowly compared to others. The result will be a slow movement of all prices to their new nominal level, and substantial inertia of the price level. This paper formalizes this int...

  3. Freemium Pricing

    DEFF Research Database (Denmark)

    Runge, Julian; Wagner, Stefan; Claussen, Jörg

    into a stylized framework. We apply the proposed framework in the analysis of a field experiment that contrasts three variations of a freemium pricing scheme and comprises about 300,000 users of a software application. Our findings indicate that a reduction of free product features increases conversion as well...... as viral activity, but reduces usage – which is in line with the framework’s predictions. Additional back-of-the-envelope profit estimations suggest that managers were overly optimistic about positive externalities from usage and viral activity in their choice of pricing scheme, leading them to give too...... much of their product away for free. Our framework and its exemplary application can be a remedy....

  4. Pricing Perishables

    OpenAIRE

    Weaver, Robert D.; Moon, Yongma

    2011-01-01

    A key feature of food products is their perishability. Within the short marketing window that characterizes most food and ag products, demand is typically highly stochastic and difficult to predict. This combination of features poses substantial challenges to retailers when pricing products and has implications for performance that ripples through vertical food chains. For many food products, processing to forms that can be preserved and held in inventory has traditionally been used as a mean...

  5. Price Perception

    OpenAIRE

    Margianti, E.S.; Saptariani, Trini; Sirongoringo, Hotniar

    2008-01-01

    This research is intended to investigate consumer price perception which is set up by two (2) big retail chains. However, research variable is subjected to consumer opinion, so that survey research was deployed to gather data needed. Questionnaire, as research instrument, was distributed to consumers who perform convenience shopping goods at two chains, i.e. Carrefour and Giant in Depok city. As research variables are latent in nature, multilevel structural equation modeling was used to analy...

  6. World cocoa output and price variabilities: implications for economic ...

    African Journals Online (AJOL)

    Price index analysis was used to determine the degree of cocoa price variation at the international market. The price of cocoa between 1991and 2002 was used for the study. Monthly and annual averages of daily price of cocoa beans were calculated using the average quotations of London cocoa terminal market and New ...

  7. Aplicación de una medida de riesgo coherente para el cálculo de la prima de riesgo en un seguro de rentas = Application of a coherent risk measure in the price calculation of an income insurance (annuities

    Directory of Open Access Journals (Sweden)

    Montserrat Hernández Solís

    2014-07-01

    Full Text Available Resumen Una práctica común que realizan las entidades aseguradoras es la de modificar las tasas de mortalidad instantánea al aplicar el principio de prima neta con el fin de hacer frente a las desviaciones desfavorables de la siniestralidad. Este documento proporciona una respuesta matemática a esta cuestión mediante la aplicación de la función de distorsión de potencia de Wang. Tanto la prima neta y la función de distorsión de Wang son medidas de riesgo coherentes, siendo este último aplicado por primera vez en el campo delos seguros de vida. Utilizando las leyes de Gompertz y Makeham primero calculamos la prima a nivel general y en una segunda parte, se aplica el principio de cálculo de la prima basado en función de distorsión de potencia de Wang para calcular el recargo sobre la prima de riesgo ajustada. El precio de prima única de riesgo se ha aplicado a una forma de cobertura de seguro de supervivencia, el seguro de rentas. La principal conclusión que puede extraerse es que mediante el uso de la función de distorsión, la nueva tasa instantánea de mortalidad es directamente proporcional a un múltiplo, que es justamente el exponente de esta función y hace que el riesgo de longevidad sea mayor. Esta es la razón por la prima de riesgo ajustada es superior a la prima neta. Abstract Modification of instantaneous mortality rates when applying the net premium principle in order to cope with unfavorable deviations in claims, is common practice carried out by insurance companies. This paper provides a mathematical answer to this matter by applying Wang’s power distortion function. Both net premium and Wang’s distortion function are coherent risk measures, the latter being first applied to the field of life insurance. Using the Gompertz and Makeham laws we first calculate the premium at a general level and in a second part, the principle of premium calculation based on Wang´s power distortion function is applied to calculate

  8. Application of a coherent risk measure in the price calculation of an income insurance (annuities = Aplicación de una medida de riesgo coherente para el cálculo de la prima de riesgo en un seguro de rentas

    Directory of Open Access Journals (Sweden)

    Montserrat Hernández Solís

    2013-12-01

    Full Text Available Una práctica común que realizan las entidades aseguradoras es la de modificar las tasas de mortalidad instantánea al aplicar el principio de prima neta con el fin de hacer frente a las desviaciones desfavorables de la siniestralidad. Este documento proporciona una respuesta matemática a esta cuestión mediante la aplicación de la función de distorsión de potencia de Wang. Tanto la prima neta y la función de distorsión de Wang son medidas de riesgo coherentes, siendo este último aplicado por primera vez en el campo delos seguros de vida.Utilizando las leyes de Gompertz y Makeham primero calculamos la prima a nivel general y en una segunda parte, se aplica el principio de cálculo de la prima basado en función de distorsión de potencia de Wang para calcular el recargo sobre la prima de riesgo ajustada. El precio de prima única de riesgo se ha aplicado a una forma de cobertura de seguro de supervivencia, el seguro de rentas.La principal conclusión que puede extraerse es que mediante el uso de la función de distorsión, la nueva tasa instantánea de mortalidad es directamente proporcional a un múltiplo, que es justamente el exponente de esta función y hace que el riesgo de longevidad sea mayor. Esta es la razón por la prima de riesgo ajustada es superior a la prima neta.Modification of instantaneous mortality rates when applying the net premium principle in order to cope with unfavorable deviations in claims, is common practice carried out by insurance companies. This paper provides a mathematical answer to this matter by applying Wang’s power distortion function. Both net premium and Wang’s distortion function are coherent risk measures, the latter being first applied to the field of life insurance.Using the Gompertz and Makeham laws we first calculate the premium at a general level and in a second part, the principle of premium calculation based on Wang´s power distortion function is applied to calculate the adjusted risk

  9. State energy price and expenditure report 1994

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-06-01

    The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates individually for the 50 States and the District of Columbia and in aggregate for the United States. The price and expenditure estimates developed in the State Energy Price and Expenditure Data System (SEPEDS) are provided by energy source and economic sector and are published for the years 1970 through 1994. Consumption estimates used to calculate expenditures and the documentation for those estimates are taken from the State Energy Data Report 1994, Consumption Estimates (SEDR), published in October 1996. Expenditures are calculated by multiplying the price estimates by the consumption estimates, which are adjusted to remove process fuel; intermediate petroleum products; and other consumption that has no direct fuel costs, i.e., hydroelectric, geothermal, wind, solar, and photovoltaic energy sources. Documentation is included describing the development of price estimates, data sources, and calculation methods. 316 tabs.

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

    Science.gov (United States)

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

    2005-04-01

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

  11. Willingness to Pay For Insecticide-Treated Nets in Berehet District ...

    African Journals Online (AJOL)

    Nearly 68.5% persons had willingness to buy Insecticide-Treated Nets if they have access to these Nets. The median maximum price a person is willingness to pay for blue rectangular Insecticide-Treated Net was 20 ETB. People had willingness to pay 30 ETB for blue and white conical insecticide-treated nets. Working on ...

  12. MARKET ECONOMICS PRICING PARTICULARS

    Directory of Open Access Journals (Sweden)

    V. I. Parshin

    2011-01-01

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

  13. Price controls and international petroleum product prices

    Energy Technology Data Exchange (ETDEWEB)

    Deacon, R.T.; Mead, W.J.; Agarwal, V.B.

    1980-02-01

    The effects of Federal refined-product price controls upon the price of motor gasoline in the United States through 1977 are examined. A comparison of domestic and foreign gasoline prices is made, based on the prices of products actually moving in international trade. There is also an effort to ascribe US/foreign market price differentials to identifiable cost factors. Primary emphasis is on price comparisons at the wholesale level, although some retail comparisons are presented. The study also examines the extent to which product price controls are binding, and attempts to estimate what the price of motor gasoline would have been in the absence of controls. The time period under consideration is from 1969 through 1977, with primary focus on price relationships in 1970-1971 (just before US controls) and 1976-1977. The foreign-domestic comparisons are made with respect to four major US cities, namely, Boston, New York, New Orleans, and Los Angeles. 20 figures, 14 tables.

  14. Alcohol prices, beverage quality, and the demand for alcohol: quality substitutions and price elasticities.

    Science.gov (United States)

    Gruenewald, Paul J; Ponicki, William R; Holder, Harold D; Romelsjö, Anders

    2006-01-01

    Although the published literature on alcohol beverage taxes, prices, sales, and related problems treats alcoholic beverages as a simple good, alcohol is a complex good composed of different beverage types (i.e., beer, wine, and spirits) and quality brands (e.g., high-, medium-, and low-quality beers). As a complex good, consumers may make substitutions between purchases of different beverage types and brands in response to price increases. For this reason, the availability of a broad range of beverage prices provides opportunities for consumers to mitigate the effects of average price increases through quality substitutions; a change in beverage choice in response to price increases to maintain consumption. Using Swedish price and sales data provided by Systembolaget for the years 1984 through 1994, this study assessed the relationships between alcohol beverage prices, beverage quality, and alcohol sales. The study examined price effects on alcohol consumption using seemingly unrelated regression equations to model the impacts of price increases within 9 empirically defined quality classes across beverage types. The models enabled statistical assessments of both own-price and cross-price effects between types and classes. The results of these analyses showed that consumers respond to price increases by altering their total consumption and by varying their brand choices. Significant reductions in sales were observed in response to price increases, but these effects were mitigated by significant substitutions between quality classes. The findings suggest that the net impacts of purposeful price policy to reduce consumption will depend on how such policies affect the range of prices across beverage brands.

  15. Cotton price change and welfare in Togo

    Directory of Open Access Journals (Sweden)

    Anani Nourredine Mensah

    2015-06-01

    Full Text Available This paper uses the evaluation of net benefit ratios applied to survey data on households to appreciate the effects of international price of cotton on the welfare of producers in Togo. It needs first to trace the difference between international prices and those paid to domestic producers. Furthermore, given that households are producers of these goods, we use a revenue function that depends on the remuneration of labor, other earnings and profit that in turn depends on the price paid to producers and land ownership. For estimates, the effect of welfare, which is captured by the compensating variation, is the result of the share of the average cotton income in average total income multiplied by the change in the price of cotton. Our results with QUIBB 2006 and 2011 survey data reveal that the impact of a price change on the compensating variation gives a welfare change relatively higher for poor households. However, this effect remains low, considering whether a change in producer prices or in international price. A simulation of a potential effect of the change in the producer price of 50% of the differential of the two prices, and the positive impact on social welfare that results appears stronger. This positive change in welfare is reversely associated to the wealth of households.

  16. 7 CFR 1000.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... III price; (4) The Class III skim milk price; (5) The Class IV price; (6) The Class IV skim milk price... the following month: (1) The Class I price; (2) The Class I skim milk price; (3) The Class I butterfat price; (4) The Class II skim milk price; (5) The Class II nonfat solids price; and (6) The advanced...

  17. Pricing and Trust

    DEFF Research Database (Denmark)

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

    We experimentally examine the effects of flexible and fixed prices in markets for experience goods in which demand is driven by trust. With flexible prices, we observe low prices and high quality in competitive (oligopolistic) markets, and high prices coupled with low quality in non-competitive (......We experimentally examine the effects of flexible and fixed prices in markets for experience goods in which demand is driven by trust. With flexible prices, we observe low prices and high quality in competitive (oligopolistic) markets, and high prices coupled with low quality in non...

  18. Pricing and hedging in incomplete financial markets

    NARCIS (Netherlands)

    Wurth, A.M.

    2009-01-01

    In the practical part, Chapter 4 considers numerical methods for indifference pricing in a stochastic volatility model. In Chapter 5, a feasible procedure is developed for calculating the CVaR price in unit-linked insurance products under an additional assumption. This assumption is relaxed in

  19. ACCOUNTING ASPECTS OF PRICING AND TRANSFER PRICING

    Directory of Open Access Journals (Sweden)

    TÜNDE VERES

    2011-01-01

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

  20. Heterogeneity and option pricing

    NARCIS (Netherlands)

    Benninga, Simon; Mayshar, Joram

    2000-01-01

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

  1. How Do Drug Prices Respond to a Change from External to Internal Reference Pricing?

    DEFF Research Database (Denmark)

    Kaiser, Ulrich; Mendez, Susan J.

    We study the effects of a change in the way patient reimbursements are calculated on the prices of pharmaceuticals using quasi-experimental data for Denmark which switched from external (where reimbursements are based on prices of similar products in foreign countries) to internal reference pricing...... not find significant effects on our acute treatment. Moreover, the reform did only affect generics and did not impact original products or parallel imports....

  2. Accounting Aspects of Pricing and Transfer Pricing

    OpenAIRE

    TÜNDE VERES

    2011-01-01

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

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

    Science.gov (United States)

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

    2015-12-01

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

  4. Exporter Price Premia?

    DEFF Research Database (Denmark)

    Jäkel, Ina Charlotte; Sørensen, Allan

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

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

    Science.gov (United States)

    Herr, Annika; Suppliet, Moritz

    2017-09-15

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

  6. TOURISM MARKET: PRICING ISSUES

    Directory of Open Access Journals (Sweden)

    Irina A. Kiseleva

    2016-01-01

    Full Text Available Article retractedThe article is devoted to the actual topic of our time - the development of tourism services. The development of tourism is the leading technology trend dynamics maroon economic caused social restructuring of modern society. Macroeconomic Financial Statistics conrms the minimum amplitude of cyclical uctuations in the service sector, which turns it into countercyclical tool. In the Russian Federation the economic problem of a state policy in the sphere of tourist services is defined - to having turned tourism in competitive, innovative, countercyclical, and highly protable sector of national business. In article pricing factors are dened and are dened key of them, responsible for the cost of a tourist product. This work answers such questions of travel company as: denition of optimum group, formation of a transport tariff, structure of a tourist product on the main and accompanying services and their range, ways of sale. A practical advice by calculation of expenses is given. Correlation and regression and cluster analyses acted as research tools when performing work. In article the conclusion is drawn that the main methods of marketing management of pricing in the market of tourist services are: transition to the unified technology of granting a service on the basis of ISO; intensication and integration of the sphere of production and services

  7. NA-NET numerical analysis net

    Energy Technology Data Exchange (ETDEWEB)

    Dongarra, J. [Tennessee Univ., Knoxville, TN (United States). Dept. of Computer Science]|[Oak Ridge National Lab., TN (United States); Rosener, B. [Tennessee Univ., Knoxville, TN (United States). Dept. of Computer Science

    1991-12-01

    This report describes a facility called NA-NET created to allow numerical analysts (na) an easy method of communicating with one another. The main advantage of the NA-NET is uniformity of addressing. All mail is addressed to the Internet host ``na-net.ornl.gov`` at Oak Ridge National Laboratory. Hence, members of the NA-NET do not need to remember complicated addresses or even where a member is currently located. As long as moving members change their e-mail address in the NA-NET everything works smoothly. The NA-NET system is currently located at Oak Ridge National Laboratory. It is running on the same machine that serves netlib. Netlib is a separate facility that distributes mathematical software via electronic mail. For more information on netlib consult, or send the one-line message ``send index`` to netlib{at}ornl.gov. The following report describes the current NA-NET system from both a user`s perspective and from an implementation perspective. Currently, there are over 2100 members in the NA-NET. An average of 110 mail messages pass through this facility daily.

  8. NA-NET numerical analysis net

    Energy Technology Data Exchange (ETDEWEB)

    Dongarra, J. (Tennessee Univ., Knoxville, TN (United States). Dept. of Computer Science Oak Ridge National Lab., TN (United States)); Rosener, B. (Tennessee Univ., Knoxville, TN (United States). Dept. of Computer Science)

    1991-12-01

    This report describes a facility called NA-NET created to allow numerical analysts (na) an easy method of communicating with one another. The main advantage of the NA-NET is uniformity of addressing. All mail is addressed to the Internet host na-net.ornl.gov'' at Oak Ridge National Laboratory. Hence, members of the NA-NET do not need to remember complicated addresses or even where a member is currently located. As long as moving members change their e-mail address in the NA-NET everything works smoothly. The NA-NET system is currently located at Oak Ridge National Laboratory. It is running on the same machine that serves netlib. Netlib is a separate facility that distributes mathematical software via electronic mail. For more information on netlib consult, or send the one-line message send index'' to netlib{at}ornl.gov. The following report describes the current NA-NET system from both a user's perspective and from an implementation perspective. Currently, there are over 2100 members in the NA-NET. An average of 110 mail messages pass through this facility daily.

  9. Price, availability and affordability of medicines.

    Science.gov (United States)

    Mhlanga, Brenda S; Suleman, Fatima

    2014-06-24

    Medicines play an important role in healthcare, but prices can be a barrier to patient care. Few studies have looked at the prices of essential medicines in low- and middle-income countries in terms of patient affordability. To determine the prices, availability and affordability of medicines along the supply chain in Swaziland. Private- and public-sector facilities in Manzini, Swaziland. The standardised methodology designed by the World Health Organization and Health Action International was used to survey 16 chronic disease medicines. Data were collected in one administrative area in 10 private retail pharmacies and 10 public health facilities. Originator brand (OB) and lowest-priced generic equivalent (LPG) medicines were monitored and these prices were then compared with international reference prices (IRPs). Affordability was calculated in terms of the daily wage of the lowest-paid unskilled government worker. Mean availability was 68% in the public sector. Private sector OB medicines were priced 32.4 times higher than IRPs, whilst LPGs were 7.32 times higher. OBs cost473% more than LPGs. The total cumulative mark-ups for individual medicines range from 190.99% - 440.27%. The largest contributor to add-on cost was the retail mark-up (31% - 53%). Standard treatment with originator brands cost more than a day's wage. Various policy measures such as introducing price capping at all levels of the medicine supply chain, may increase the availability, whilst at the same time reducing the prices of essential medicines for the low income population.

  10. Forecasting day ahead electricity spot prices: The impact of the EXAA to other European electricity markets

    OpenAIRE

    Ziel, Florian; Steinert, Rick; Husmann, Sven

    2015-01-01

    In our paper we analyze the relationship between the day-ahead electricity price of the Energy Exchange Austria (EXAA) and other day-ahead electricity prices in Europe. We focus on markets, which settle their prices after the EXAA, which enables traders to include the EXAA price into their calculations. For each market we employ econometric models to incorporate the EXAA price and compare them with their counterparts without the price of the Austrian exchange. By employing a forecasting study...

  11. PRICES IN COMPETITIVE SYSTEM

    Directory of Open Access Journals (Sweden)

    VADUVA MARIA

    2017-08-01

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

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

    Science.gov (United States)

    Puig-Junoy, Jaume

    2012-11-01

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

  13. Drug Pricing Reforms

    DEFF Research Database (Denmark)

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

    2015-01-01

    Reference price systems for prescription drugs have found widespread use as cost containment tools. Under such regulatory regimes, patients co-pay a fraction of the difference between pharmacy retail price of the drug and a reference price. Reference prices are either externally (based on drug pr...... for patients and the health insurance system. We also estimated an increase in consumer welfare but the size effect depends on whether or not perceived quality differences between branded and other drugs are taken into account....

  14. Dynamic leverage asset pricing

    OpenAIRE

    Adrian,Tobias; Moench, Emanuel; Shin, Hyun Song

    2013-01-01

    We investigate intermediary asset pricing theories empirically and find strong support for models that have intermediary leverage as the relevant state variable. A parsimonious model that uses detrended dealer leverage as a price-of-risk variable, and innovations to dealer leverage as a pricing factor, is shown to perform well in time series and cross-sectional tests of a wide variety of equity and bond portfolios. The model outperforms alternative specifications of intermediary pricing model...

  15. Delegating Pricing Decisions

    OpenAIRE

    Pradeep Bhardwaj

    2001-01-01

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

  16. Net Ecosystem Carbon Flux

    Data.gov (United States)

    U.S. Geological Survey, Department of the Interior — Net Ecosystem Carbon Flux is defined as the year-over-year change in Total Ecosystem Carbon Stock, or the net rate of carbon exchange between an ecosystem and the...

  17. Simulating Price-Taking

    Science.gov (United States)

    Engelhardt, Lucas M.

    2015-01-01

    In this article, the author presents a price-takers' market simulation geared toward principles-level students. This simulation demonstrates that price-taking behavior is a natural result of the conditions that create perfect competition. In trials, there is a significant degree of price convergence in just three or four rounds. Students find this…

  18. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

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

    2014-01-01

    Reference prices constitute a main determinant of patient health care reimbursement in many countries. We study the effects of a change from an "external" (based on a basket of prices in other countries) to an "internal" (based on comparable domestic products) reference price system. We find that...

  19. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

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

    Reference prices constitute a main determinant of patient health care reimbursement in many countries. We study the effects of a change from an "external" (based on a basket of prices in other countries) to an "internal" (based on comparable domestic products) reference price system. We find that...

  20. Dutch house price fundamentals

    NARCIS (Netherlands)

    Haffner, M.E.A.; de Vries, P.

    2009-01-01

    This paper discusses house price developments in the Netherlands, specifically focussing on the question whether current house prices in the Dutch owner-occupied market are likely to decrease. We analyse three aspects of the question based on a literature review: (1) whether there is a house price

  1. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

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

    the joint eects of this reform on prices and quantities. Prices decreased more than 26 percent due to the reform, which reduced patient and government expenditures by 3.0 percent and 5.6 percent, respectively, and producer revenues by 5.0 percent. The prices of expensive products decreased more than...

  2. Incentive pricing and cost recovery at the basin scale.

    Science.gov (United States)

    Ward, Frank A; Pulido-Velazquez, Manuel

    2009-01-01

    Incentive pricing programs have potential to promote economically efficient water use patterns and provide a revenue source to compensate for environmental damages. However, incentive pricing may impose disproportionate costs and aggravate poverty where high prices are levied for basic human needs. This paper presents an analysis of a two-tiered water pricing system that sets a low price for subsistence needs, while charging a price equal to marginal cost, including environmental cost, for discretionary uses. This pricing arrangement can promote efficient and sustainable water use patterns, goals set by the European Water Framework Directive, while meeting subsistence needs of poor households. Using data from the Rio Grande Basin of North America, a dynamic nonlinear program, maximizes the basin's total net economic and environmental benefits subject to several hydrological and institutional constraints. Supply costs, environmental costs, and resource costs are integrated in a model of a river basin's hydrology, economics, and institutions. Three programs are compared: (1) Law of the River, in which water allocations and prices are determined by rules governing water transfers; (2) marginal cost pricing, in which households pay the full marginal cost of supplying treated water; (3) two-tiered pricing, in which households' subsistence water needs are priced cheaply, while discretionary uses are priced at efficient levels. Compared to the Law of the River and marginal cost pricing, two-tiered pricing performs well for efficiency and adequately for sustainability and equity. Findings provide a general framework for formulating water pricing programs that promote economically and environmentally efficient water use programs while also addressing other policy goals.

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

    Science.gov (United States)

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

    2013-05-01

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

  4. Psychology of pricing

    OpenAIRE

    Bimaj, Arjola

    2012-01-01

    Price is the element of the marketing mix that has direct effect in the profits of a company. The right price can boost the profit and the wrong price can significantly shrink it. Thus, the businesses need to set the right price in order to maximize their revenues. However, the newest factors in the economic field, the continuous changes in the environment and the current financial situation in the world has eroded the pricing power and forces the managers to look in every direction in order ...

  5. Internet resource pricing models

    CERN Document Server

    Xu, Ke; He, Huan

    2013-01-01

    This brief guides the reader through three basic Internet resource pricing models using an Internet cost analysis. Addressing the evolution of service types, it presents several corresponding mechanisms which can ensure pricing implementation and resource allocation. The authors discuss utility optimization of network pricing methods in economics and underline two classes of pricing methods including system optimization and entities' strategic optimization. The brief closes with two examples of the newly proposed pricing strategy helping to solve the profit distribution problem brought by P2P

  6. Value-based pricing

    Directory of Open Access Journals (Sweden)

    Netseva-Porcheva Tatyana

    2010-01-01

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

  7. State energy price and expenditure report, 1995

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1998-08-01

    The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates individually for the 50 States and the District of Columbia and in aggregate for the US. The estimates developed in the State Energy Price and Expenditure Data System (SEPEDS) are provided by energy source and economic sector and are published for the years 1970 through 1995. Data for all years are available on a CD-ROM and via Internet. Consumption estimates used to calculate expenditures and the documentation for those estimates are taken from the State Energy Data Report 1995, Consumption Estimates (SEDR), published in December 1997. Expenditures are calculated by multiplying the price estimates by the consumption estimates, which are adjusted to remove process fuel; intermediate petroleum products; and other consumption that has no direct fuel costs, i.e., hydroelectric, geothermal, wind, solar, and photovoltaic energy sources.

  8. Professional Enterprise NET

    CERN Document Server

    Arking, Jon

    2010-01-01

    Comprehensive coverage to help experienced .NET developers create flexible, extensible enterprise application code If you're an experienced Microsoft .NET developer, you'll find in this book a road map to the latest enterprise development methodologies. It covers the tools you will use in addition to Visual Studio, including Spring.NET and nUnit, and applies to development with ASP.NET, C#, VB, Office (VBA), and database. You will find comprehensive coverage of the tools and practices that professional .NET developers need to master in order to build enterprise more flexible, testable, and ext

  9. Theoretical and practical bases of transfer pricing formation at the microlevel in terms of national economy

    OpenAIRE

    Oksana Desyatniuk; Olga Cherevko

    2015-01-01

    The theoretical and methodological bases of transfer pricing formation at microlevel are studied. The factors acting upon transfer pricing are analysed and the algorithm to form transfer price at an enterprise is suggested. The model example to choose the method of transfer pricing and calculate the profitability interval meeting modern legal requirements is considered.

  10. Price learning during grocery shopping

    DEFF Research Database (Denmark)

    Jensen, Birger Boutrup

    of what consumers learn about prices during grocery shopping. Three measures of price knowledge corresponding to different levels of price information processing were applied. Results indicate that price learning does take place and that episodic price knowledge after store exit is far more widespread...... than expected. Consequently, a new view of how consumer price knowledge evolves during grocery shopping is presented....

  11. Credit Derivatives Pricing Model for Fuzzy Financial Market

    Directory of Open Access Journals (Sweden)

    Liang Wu

    2015-01-01

    Full Text Available With various categories of fuzziness in the market, the factors that influence credit derivatives pricing include not only the characteristic of randomness but also nonrandom fuzziness. Thus, it is necessary to bring fuzziness into the process of credit derivatives pricing. Based on fuzzy process theory, this paper first brings fuzziness into credit derivatives pricing, discusses some pricing formulas of credit derivatives, and puts forward a One-Factor Fuzzy Copula function which builds a foundation for portfolio credit products pricing. Some numerical calculating samples are presented as well.

  12. The news model of asset price determination: An empirical examination of the Danish football club Brøndby IF

    OpenAIRE

    Jørgensen, Casper W.; Moritzen, Mark R.; Stadtmann, Georg

    2012-01-01

    According to the news model of asset price determination, only the unexpected component of an information should drive the stock price. We use the Danish publicly listed football club Brøndby IF to analyze how match outcome impacts the stock price. To disentangle gross news from net news, betting odd information is used to control for the expected match outcome.

  13. The News Model of Asset Price Determination - An Empirical Examination of the Danish Football Club Bröndby IF

    DEFF Research Database (Denmark)

    Stadtmann, Georg; Moritzen; Jörgensen

    2012-01-01

    According to the news model of asset price determination, only the unexpected component of an information should drive the stock price. We use the Danish publicly listed football club Brøndby IF to analyse how match outcome impacts the stock price. To disentangle gross news from net news, betting...

  14. 7 CFR 1124.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  15. 7 CFR 1030.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  16. 7 CFR 1033.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  17. 7 CFR 1006.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  18. 7 CFR 1005.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  19. 7 CFR 1032.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  20. 7 CFR 1131.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  1. 7 CFR 1126.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  2. 7 CFR 1001.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  3. 7 CFR 1007.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  4. Essays on pricing dynamics, price dispersion, and nested logit modelling

    Science.gov (United States)

    Verlinda, Jeremy Alan

    The body of this dissertation comprises three standalone essays, presented in three respective chapters. Chapter One explores the possibility that local market power contributes to the asymmetric relationship observed between wholesale costs and retail prices in gasoline markets. I exploit an original data set of weekly gas station prices in Southern California from September 2002 to May 2003, and take advantage of highly detailed station and local market-level characteristics to determine the extent to which spatial differentiation influences price-response asymmetry. I find that brand identity, proximity to rival stations, bundling and advertising, operation type, and local market features and demographics each influence a station's predicted asymmetric relationship between prices and wholesale costs. Chapter Two extends the existing literature on the effect of market structure on price dispersion in airline fares by modeling the effect at the disaggregate ticket level. Whereas past studies rely on aggregate measures of price dispersion such as the Gini coefficient or the standard deviation of fares, this paper estimates the entire empirical distribution of airline fares and documents how the shape of the distribution is determined by market structure. Specifically, I find that monopoly markets favor a wider distribution of fares with more mass in the tails while duopoly and competitive markets exhibit a tighter fare distribution. These findings indicate that the dispersion of airline fares may result from the efforts of airlines to practice second-degree price discrimination. Chapter Three adopts a Bayesian approach to the problem of tree structure specification in nested logit modelling, which requires a heavy computational burden in calculating marginal likelihoods. I compare two different techniques for estimating marginal likelihoods: (1) the Laplace approximation, and (2) reversible jump MCMC. I apply the techniques to both a simulated and a travel mode

  5. Price strategy and pricing strategy: terms and content identification

    Directory of Open Access Journals (Sweden)

    Panasenko Tetyana

    2015-11-01

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

  6. Use of a Spreadsheet to Calculate the Net Charge of Peptides and Proteins as a Function of pH: An Alternative to Using "Canned" Programs to Estimate the Isoelectric Point of These Important Biomolecules

    Science.gov (United States)

    Sims, Paul A.

    2010-01-01

    An approach is presented that utilizes a spreadsheet to allow students to explore different means of calculating and visualizing how the charge on peptides and proteins varies as a function of pH. In particular, the concept of isoelectric point is developed to allow students to compare the results of their spreadsheet calculations with those of…

  7. Freeze-out conditions from net-proton and net-charge fluctuations at RHIC

    Energy Technology Data Exchange (ETDEWEB)

    Alba, Paolo; Alberico, Wanda [Department of Physics, Torino University and INFN, Sezione di Torino, via P. Giuria 1, 10125 Torino (Italy); Bellwied, Rene [Department of Physics, University of Houston, Houston, TX 77204 (United States); Bluhm, Marcus [Department of Physics, Torino University and INFN, Sezione di Torino, via P. Giuria 1, 10125 Torino (Italy); Department of Physics, North Carolina State University, Raleigh, NC 27695 (United States); Mantovani Sarti, Valentina [Department of Physics, Torino University and INFN, Sezione di Torino, via P. Giuria 1, 10125 Torino (Italy); Nahrgang, Marlene [Department of Physics, Duke University, Durham, NC 27708-0305 (United States); Frankfurt Institute for Advanced Studies (FIAS), Ruth-Moufang-Str. 1, 60438 Frankfurt am Main (Germany); Ratti, Claudia [Department of Physics, Torino University and INFN, Sezione di Torino, via P. Giuria 1, 10125 Torino (Italy)

    2014-11-10

    We calculate ratios of higher-order susceptibilities quantifying fluctuations in the number of net-protons and in the net-electric charge using the Hadron Resonance Gas (HRG) model. We take into account the effect of resonance decays, the kinematic acceptance cuts in rapidity, pseudo-rapidity and transverse momentum used in the experimental analysis, as well as a randomization of the isospin of nucleons in the hadronic phase. By comparing these results to the latest experimental data from the STAR Collaboration, we determine the freeze-out conditions from net-electric charge and net-proton distributions and discuss their consistency.

  8. Factors influencing global antiretroviral procurement prices.

    Science.gov (United States)

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

    2009-11-18

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

  9. Valuation Struggles over Pricing

    DEFF Research Database (Denmark)

    Pallesen, Trine

    2016-01-01

    Public policies such as feed-in tariffs have been widely introduced to stimulate the development of renewable energies, and sustain a decarbonisation of the electricity sector. Proponents argue that these governance instruments safeguard public goods such as the climate – yet they are accused...... of creating political markets, and political prices, here understood as market distortion. This paper studies the ‘politics’ of pricing by following the adoption of the first feed-in tariff in France. Pricing as a way of achieving non-economic ends, such as climate mitigation, brings the values of several...... public goods into play, all the while prompting a translation of these values into a single price. Following the struggles over the pricing of wind power in the early 2000s, the study illustrates that rather than a pollution of the market sphere by that of politics, a politics of pricing can be observed...

  10. STS pricing policy

    Science.gov (United States)

    Lee, C. M.; Stone, B.

    1982-01-01

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

  11. Optimal Asset Pricing

    Directory of Open Access Journals (Sweden)

    Rolf Turner

    2014-07-01

    Full Text Available We describe an R package for determining the optimal price of an asset which is perishable in a certain sense, given the intensity of customer arrivals and a time-varying price sensitivity function which speci?es the probability that a customer will purchase an asset o?ered at a given price at a given time. The package deals with the case of customers arriving in groups, with a probability distribution for the group size being speci?ed. The methodology and software allow for both discrete and continuous pricing. The class of possible models for price sensitivity functions is very wide, and includes piecewise linear models. A mechanism for constructing piecewise linear price sensitivity functions is provided.

  12. Target Price Accuracy

    Directory of Open Access Journals (Sweden)

    Alexander G. Kerl

    2011-04-01

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

  13. Annuity payments can increase patient access to innovative cell and gene therapies under England’s net budget impact test

    Science.gov (United States)

    Jørgensen, Jesper; Kefalas, Panos

    2017-01-01

    ABSTRACT Background: Cell and gene therapies have the potential to provide therapeutic breakthroughs, but the high costs of researching, developing, manufacturing and delivering them translate into prices that may challenge healthcare budgets. Various measures exist that aim to address the affordability challenge, including reducing price, limiting patient numbers and/or linking remuneration to product performance. Objective: To explore how the net budget impact test recently introduced in England can affect patient access to high-value, one-off cell and gene therapies, and how managed entry agreements can improve access. Methods: We use a hypothetical example where a new high-value, one-off therapy launches in an indication where it displaces a relatively low cost chronic treatment. We calculate the number of patients that can be treated without exceeding the £20 million net budget impact threshold, and compare results for scenarios where a full upfront payment is used, and where annuity-based payments are used. Results: Charging a full upfront payment at the time of treatment can lead to suboptimal patient access. Conclusion: Annuity-based payments in combination with an outcomes-based remuneration scheme reduce consequences of decision uncertainty and can increase patient access, without exceeding the net budget impact test. PMID:28839525

  14. Annuity payments can increase patient access to innovative cell and gene therapies under England's net budget impact test.

    Science.gov (United States)

    Jørgensen, Jesper; Kefalas, Panos

    2017-01-01

    Background: Cell and gene therapies have the potential to provide therapeutic breakthroughs, but the high costs of researching, developing, manufacturing and delivering them translate into prices that may challenge healthcare budgets. Various measures exist that aim to address the affordability challenge, including reducing price, limiting patient numbers and/or linking remuneration to product performance. Objective: To explore how the net budget impact test recently introduced in England can affect patient access to high-value, one-off cell and gene therapies, and how managed entry agreements can improve access. Methods: We use a hypothetical example where a new high-value, one-off therapy launches in an indication where it displaces a relatively low cost chronic treatment. We calculate the number of patients that can be treated without exceeding the £20 million net budget impact threshold, and compare results for scenarios where a full upfront payment is used, and where annuity-based payments are used. Results: Charging a full upfront payment at the time of treatment can lead to suboptimal patient access. Conclusion: Annuity-based payments in combination with an outcomes-based remuneration scheme reduce consequences of decision uncertainty and can increase patient access, without exceeding the net budget impact test.

  15. WaveNet

    Science.gov (United States)

    2015-10-30

    Coastal Inlets Research Program WaveNet WaveNet is a web-based, Graphical-User-Interface ( GUI ) data management tool developed for Corps coastal...generates tabular and graphical information for project planning and design documents. The WaveNet is a web-based GUI designed to provide users with a...data from different sources, and employs a combination of Fortran, Python and Matlab codes to process and analyze data for USACE applications

  16. Pharmaceutical Pricing in Japan: Market Evidence for Rheumatoid Arthritis treatment.

    Science.gov (United States)

    Mahlich, Jörg; Kamae, Isao; Sruamsiri, Rosarin

    2017-10-17

    Drug price setting is one of the key challenges faced by the Japanese health care system. This study aims to identify the determinants of drug price in Japan using the example of the rheumatoid arthritis (RA) treatment market. In order to compare prices across different products, we calculated prices per defined daily dose using WHO methodology. Price determinants were calculated both at launch and over time using IMS quarterly data on medicines approved for RA treatment in Japan from 2012 to 2015. Pharmaceutical pricing was modeled as a function of clinical and economic variables using regression analysis. For prices at the launch we found that differences in efficacy are not reflected in price differentials. We also report that the number of products within a molecule class had a negative effect on prices while originator drugs maintained higher prices. Although the existing pricing rules in Japan are very comprehensive they do not necessarily capture differences in product characteristics. The findings here support the notion that competitive forces are weak in highly regulated markets such as Japan.

  17. The Hotel Pricing Strategy

    OpenAIRE

    Cibulková, Michaela

    2013-01-01

    The main purpose of this thesis is an analysis of pricing strategy of Hotel Imperial and its evaluation, which should results in proposal of changes leading to increase of effectivity and hotel's income. The diploma thesis is divided into four main parts. The first two chapters are devoted to a theoretical description of pricing strategy and distribution channels used in hotel business. The third part is focused on the analysis of hotel itself and its pricing strategy. The final chapter summa...

  18. Employment and Asset Prices

    OpenAIRE

    Zoega, Gylfi

    2009-01-01

    A medium-term relationship exists between share prices, normalised by labour productivity, and the rate of unemployment in the OECD countries. A similar relationship appears to exist between unemployment and house prices. This helps explain decadal changes in mean unemployment, such as the shift to higher mean unemployment in the Continental European countries in the 1970s and 1980s that coincided with a fall in the level of share prices, as well as differences in mean unemployment between co...

  19. Pricing public transport services

    OpenAIRE

    Jansson, Jan Owen; Holmgren, Johan; Ljungberg, Anders

    2015-01-01

    This chapter aims at outlining pricing policy for public transport that maximizes the social surplus, that is, the sum of the producer surplus and the consumer surplus, while internalizing possible system-external costs. It starts by presenting the door-to-door transport cost as a key concept in price theory for public transport, and then first principles of optimal pricing valid for all modes of public transport are laid down. These principles are applied to urban (short-distance) public tra...

  20. Determinants of contractor pricing strategy

    OpenAIRE

    Moses, O. Douglas

    1988-01-01

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

  1. Coloured Petri Nets

    DEFF Research Database (Denmark)

    Jensen, Kurt

    1991-01-01

    This paper describes how Coloured Petri Nets (CP-nets) have been developed — from being a promising theoretical model to being a full-fledged language for the design, specification, simulation, validation and implementation of large software systems (and other systems in which human beings and...... use of CP-nets — because it means that the function representation and the translations (which are a bit mathematically complex) no longer are parts of the basic definition of CP-nets. Instead they are parts of the invariant method (which anyway demands considerable mathematical skills...

  2. Game Coloured Petri Nets

    DEFF Research Database (Denmark)

    Westergaard, Michael

    2006-01-01

    This paper introduces the notion of game coloured Petri nets. This allows the modeler to explicitly model what parts of the model comprise the modeled system and what parts are the environment of the modeled system. We give the formal definition of game coloured Petri nets, a means of reachability...... analysis of this net class, and an application of game coloured Petri nets to automatically generate easy-to-understand visualizations of the model by exploiting the knowledge that some parts of the model are not interesting from a visualization perspective (i.e. they are part of the environment...

  3. Programming NET Web Services

    CERN Document Server

    Ferrara, Alex

    2007-01-01

    Web services are poised to become a key technology for a wide range of Internet-enabled applications, spanning everything from straight B2B systems to mobile devices and proprietary in-house software. While there are several tools and platforms that can be used for building web services, developers are finding a powerful tool in Microsoft's .NET Framework and Visual Studio .NET. Designed from scratch to support the development of web services, the .NET Framework simplifies the process--programmers find that tasks that took an hour using the SOAP Toolkit take just minutes. Programming .NET

  4. Annotating Coloured Petri Nets

    DEFF Research Database (Denmark)

    Lindstrøm, Bo; Wells, Lisa Marie

    2002-01-01

    -net. An example of such auxiliary information is a counter which is associated with a token to be able to do performance analysis. Modifying colour sets and arc inscriptions in a CP-net to support a specific use may lead to creation of several slightly different CP-nets – only to support the different uses...... a method which makes it possible to associate auxiliary information, called annotations, with tokens without modifying the colour sets of the CP-net. Annotations are pieces of information that are not essential for determining the behaviour of the system being modelled, but are rather added to support...

  5. Development of net cage acoustic alarm system

    Science.gov (United States)

    Hong, Shih-Wei; Wei, Ruey-Chang

    2004-05-01

    In recent years, the fishery production has been drastically decreased in Taiwan, mainly due to overfishing and coast pollution; therefore, fishermen and corporations are encouraged by government to invest in ocean net cage aquaculture. However, the high-price fishes in the net cage are often coveted, so incidences of fish stealing and net cage breaking were found occasionally, which cause great economical loss. Security guards or a visual monitoring system has limited effect, especially in the night when these intrusions occur. This study is based on acoustic measure to build a net cage alarm system, which includes the sonobuoy and monitor station on land. The sonobuoy is a passive sonar that collects the sounds near the net cage and transmits the suspected signal to the monitor station. The signals are analyzed by the control program on the personal computer in the monitor station, and the alarms at different stages could be activated by the sound levels and durations of the analyzed data. To insure long hours of surveillance, a solar panel is applied to charge the battery, and a photodetector is used to activate the system.

  6. Relating price strategies and price-setting practices

    NARCIS (Netherlands)

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

    2013-01-01

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

  7. Price formation and transmission along the food commodity chain

    Directory of Open Access Journals (Sweden)

    Ivana Blažková

    2012-01-01

    Full Text Available The article is focused on analysis of price transmission along the wheat commodity chain in the Czech Republic, with the distinction on wheat products with low value added (wheat flour, respectively high value added (wheat rolls. The degree of vertical price transmission is measured to identify potential market failures, because asymmetric price transmission can be the result of existence of market power within the food commodity chain. The data basis is made up from monthly prices on partial markets of the analyzed commodity chain published by Czech Statistical Office and Ministry of Agriculture of the Czech Republic. The monitored time period is from January 2000 till October 2009. The analysis is based on calculation of the price transmission elasticity coefficient (evaluation of price transmission along the chain and the intensity of dependency of positive and negative inter-market price differences (evaluation whether positive or negative price changes are better transmitted among particular vertical markets. Time lag is tested as well. The assessment of price transmission along the wheat commodity chain confirmed the existence of market power especially on the retail stage and low impact of price changes of farm prices on final consumer food prices.

  8. American option pricing with stochastic volatility processes

    Directory of Open Access Journals (Sweden)

    Ping LI

    2017-12-01

    Full Text Available In order to solve the problem of option pricing more perfectly, the option pricing problem with Heston stochastic volatility model is considered. The optimal implementation boundary of American option and the conditions for its early execution are analyzed and discussed. In view of the fact that there is no analytical American option pricing formula, through the space discretization parameters, the stochastic partial differential equation satisfied by American options with Heston stochastic volatility is transformed into the corresponding differential equations, and then using high order compact finite difference method, numerical solutions are obtained for the option price. The numerical experiments are carried out to verify the theoretical results and simulation. The two kinds of optimal exercise boundaries under the conditions of the constant volatility and the stochastic volatility are compared, and the results show that the optimal exercise boundary also has stochastic volatility. Under the setting of parameters, the behavior and the nature of volatility are analyzed, the volatility curve is simulated, the calculation results of high order compact difference method are compared, and the numerical option solution is obtained, so that the method is verified. The research result provides reference for solving the problems of option pricing under stochastic volatility such as multiple underlying asset option pricing and barrier option pricing.

  9. State energy price and expenditure report 1989

    Energy Technology Data Exchange (ETDEWEB)

    1991-09-30

    The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates for the 50 States, the District of Columbia, and the United States. The estimates are provided by energy source (e.g., petroleum, natural gas, coal, and electricity) and by major consuming or economic sector. This report is an update of the State Energy Price and Expenditure Report 1988 published in September 1990. Changes from the last report are summarized in a section of the documentation. Energy price and expenditure estimates are published for the years 1970, 1975, 1980, and 1985 through 1989. Documentation follows the tables and describes how the price estimates are developed, including sources of data, methods of estimation, and conversion factors applied. Consumption estimates used to calculate expenditures, and the documentation for those estimates, are from the State Energy Data Report, Consumption Estimates, 1960--1989 (SEDR), published in May 1991. Expenditures are calculated by multiplying the price estimates by the consumption estimates, adjusted to remove process fuel and intermediate product consumption. All expenditures are consumer expenditures, that is, they represent estimates of money directly spent by consumers to purchase energy, generally including taxes. 11 figs., 43 tabs.

  10. Intranational Price Convergence and Price Stickiness

    DEFF Research Database (Denmark)

    Bergman, Ulf Michael; Heebøll, Christian; Hansen, Niels Lynggaard

    2017-01-01

    We show that estimates of the half-life of deviations from LOOP are biased when not taking into account the precision when aggregating over types of goods. Using a comprehensive dataset with monthly price data for 124 homogeneous products across regions in Denmark over the period 1997–2010 we find...... a large positive aggregation bias. On average, we find that the half-life is 8.4 months when taking the bias into account compared to 28.7 months when applying the standard method. The heterogeneity in estimated half-life can be explained by price stickiness, distance between regions and whether the good...

  11. Shining a light in the black box of orphan drug pricing

    OpenAIRE

    Picavet, Eline; Morel, Thomas; Cassiman, David; Simoens, Steven

    2014-01-01

    Background The pricing mechanism of orphan drugs appears arbitrary and has been referred to as a “black box”. Therefore, the aim of this study is to investigate how drug- and disease-specific variables relate to orphan drug prices. Additionally, we aim to explore if certain country-specific pricing and reimbursement policies affect the price level of orphan drugs. Methods Annual treatment costs per indication per patient were calculated for 59 orphan drugs with a publicly available price in B...

  12. The market performance and determinants of net returns to artisanal ...

    African Journals Online (AJOL)

    The result of the multiple regression analysis showed that age, household size, farming experience and access to credit were significant determinants of fishermen net returns while age, educational level, price of the product (fish) and transport cost were significant determinants of the marketers'(wholesalers and retailers) ...

  13. How intrinsic values influence wines prices

    Directory of Open Access Journals (Sweden)

    Gál Péter

    2017-01-01

    Full Text Available The use of hedonic price indices is quite common in the wine economics literature, yet they mainly include scores of organoleptic tests and some dummy variables representing varieties and quality signs as geographical indications. This study focuses on the relation between the composition and the price of wines on the example of Hungarian wines. In Hungary, the wine law renders chemical analysis compulsory for all wines released to the market. The study includes five main compounds: actual alcoholic strength, total sugars, total acidity, sugar free extract and pH value and is based on hedonic price indices calculated on a sample of 2,453 wines. Results of several regressions – using different model specifications – consistently show that actual alcoholic strength, sugar content, sugar free extract and pH value are related with the price. Some characteristics have an optimal level, while in other cases the relation is linear.

  14. The economic cost of fuel price subsidies in Ghana

    Science.gov (United States)

    Ofori, Roland Oduro

    I adapt the Harberger formula for deadweight loss to develop approximations for the deadweight loss created by multiple fuel price subsidies. I also estimate the own-price, cross-price, and income elasticities of demand for gasoline and diesel in Africa. I use data on fuel prices and sales in combination with my formulas and elasticity estimates to calculate the deadweight loss of fuel price subsidies in Ghana from 2009 to 2014. I show that the average efficiency cost of the gasoline and diesel price subsidies in Ghana is 0.8% of fuel price subsidy transfers. This result stresses the futility of basing subsidy reforms on economic efficiency losses, which are relatively small due to very inelastic energy demand, and the need for such reforms to be motivated by the poor-targeting of subsidies to low-income households and the impact of subsidies on government debt-financing.

  15. Net zero water

    CSIR Research Space (South Africa)

    Lindeque, M

    2013-01-01

    Full Text Available Is it possible to develop a building that uses a net zero amount of water? In recent years it has become evident that it is possible to have buildings that use a net zero amount of electricity. This is possible when the building is taken off...

  16. SolNet

    DEFF Research Database (Denmark)

    Jordan, Ulrike; Vajen, Klaus; Bales, Chris

    2014-01-01

    SolNet, founded in 2006, is the first coordinated International PhD education program on Solar Thermal Engineering. The SolNet network is coordinated by the Institute of Thermal Engineering at Kassel University, Germany. The network offers PhD courses on solar heating and cooling, conference...

  17. Kunstige neurale net

    DEFF Research Database (Denmark)

    Hørning, Annette

    1994-01-01

    Artiklen beskæftiger sig med muligheden for at anvende kunstige neurale net i forbindelse med datamatisk procession af naturligt sprog, specielt automatisk talegenkendelse.......Artiklen beskæftiger sig med muligheden for at anvende kunstige neurale net i forbindelse med datamatisk procession af naturligt sprog, specielt automatisk talegenkendelse....

  18. Price Discrimination in Academic Journals.

    Science.gov (United States)

    Joyce, Patrick; Merz, Thomas E.

    1985-01-01

    Analysis of price discrimination (charging different prices to different customers for same product) for 89 academic journals in 6 disciplines reveals: incidence of price discrimination rose between 1974 and 1984, increase in mean institutional (library) subscription price exceeded increase in mean individual subscription price. Journal list…

  19. Poverty and price transmission

    DEFF Research Database (Denmark)

    Elleby, Christian

    A key parameter determining the welfare impact from a world market shock is the transmission elasticity which measures the average domestic response to an international price change. Many studies have estimated price transmission elasticities for a large number of countries but the variation in t...

  20. Essays on asset pricing

    NARCIS (Netherlands)

    Nazliben, Kamil

    2015-01-01

    The dissertation consists of three chapters that represent separate papers in the area of asset pricing. The first chapter studies investors optimal asset allocation problem in which mean reversion in stock prices is captured by explicitly modeling transitory and permanent shocks. The second chapter

  1. Manufacturer's Suggested Retail Prices

    NARCIS (Netherlands)

    Rosenkranz, S.|info:eu-repo/dai/nl/157222241

    2003-01-01

    Based on arguments of the `reference- dependent' theory of consumer choice we assume that a retailer's discount of a manufacturer's suggested retail price changes consumers' demand. We can show that the producer benefits from suggesting a retail price. If consumers are additionally sufficiently

  2. PRICING FINANCIAL PRODUCTS

    OpenAIRE

    Tom Valentine

    1998-01-01

    Deregulation of the financial system, and the significant heightening of competition that it produced, has directed attention to the way in which financial institutions price their products and services. Also, the loan losses of the nineties increased interest in the problems of pricing for risk.

  3. House Prices and Taxes

    DEFF Research Database (Denmark)

    Gjedsted Nielsen, Mads

    This paper is the first to consider a large scale natural experiment to estimate the effect of taxes on house prices. We find that a 1 percentage-point increase in income tax rates lead to a drop in house prices of at most 2.2%. This corresponds to a tax capitalization for the average household...

  4. Assessing Asset Pricing Anomalies

    NARCIS (Netherlands)

    W.A. de Groot (Wilma)

    2017-01-01

    markdownabstractOne of the most important challenges in the field of asset pricing is to understand anomalies: empirical patterns in asset returns that cannot be explained by standard asset pricing models. Currently, there is no consensus in the academic literature on the underlying causes of

  5. Price, availability and affordability of medicines

    Directory of Open Access Journals (Sweden)

    Brenda S. Mhlanga

    2014-01-01

    Full Text Available Background: Medicines play an important role in healthcare, but prices can be a barrier to patient care. Few studies have looked at the prices of essential medicines in low- and middle-income countries in terms of patient affordability.Aim: To determine the prices, availability and affordability of medicines along the supply chain in Swaziland.Setting: Private- and public-sector facilities in Manzini, Swaziland.Methods: The standardised methodology designed by the World Health Organization and Health Action International was used to survey 16 chronic disease medicines. Data were collected in one administrative area in 10 private retail pharmacies and 10 public health facilities. Originator brand (OB and lowest-priced generic equivalent (LPG medicines were monitored and these prices were then compared with international reference prices (IRPs. Affordability was calculated in terms of the daily wage of the lowest-paid unskilled government worker.Results: Mean availability was 68% in the public sector. Private sector OB medicines were priced 32.4 times higher than IRPs, whilst LPGs were 7.32 times higher. OBs cost473% more than LPGs. The total cumulative mark-ups for individual medicines range from 190.99% – 440.27%. The largest contributor to add-on cost was the retail mark-up (31% – 53%. Standard treatment with originator brands cost more than a day’s wage.Conclusion: Various policy measures such as introducing price capping at all levels of the medicine supply chain, may increase the availability, whilst at the same time reducing the prices of essential medicines for the low income population.

  6. Price Formation by Bargaining and Posted Prices

    NARCIS (Netherlands)

    Kultti, K.K.

    1997-01-01

    We study markets with two types of agents. Sellers have an indivisible good for sale, and their reservation value is zero. Buyers are randomly matched with sellers, and they value the good at unity. Sellers may be matched with any positive number of buyers, and they may choose to determine the price

  7. Coupons and `everyday low prices': price competition with multiple instruments

    OpenAIRE

    Lester Kwong

    2003-01-01

    A simple two-stage game is examined, where firms compete in prices by chosen pricing instruments. Those considered include a simple, uniform pricing technology and a promotional pricing technology like an advertised discount coupon. Consumers are separated by types, informed and uninformed. Therefore, a motive for price competition exists for the purpose of separating the two types of consumers. It is shown that the sustainability of an asymmetric choice of pricing instrument between the two ...

  8. Mind your pricing cues.

    Science.gov (United States)

    Anderson, Eric; Simester, Duncan

    2003-09-01

    For most of the items they buy, consumers don't have an accurate sense of what the price should be. Ask them to guess how much a four-pack of 35-mm film costs, and you'll get a variety of wrong answers: Most people will underestimate; many will only shrug. Research shows that consumers' knowledge of the market is so far from perfect that it hardly deserves to be called knowledge at all. Yet people happily buy film and other products every day. Is this because they don't care what kind of deal they're getting? No. Remarkably, it's because they rely on retailers to tell them whether they're getting a good price. In subtle and not-so-subtle ways, retailers send signals to customers, telling them whether a given price is relatively high or low. In this article, the authors review several common pricing cues retailers use--"sale" signs, prices that end in 9, signpost items, and price-matching guarantees. They also offer some surprising facts about how--and how well--those cues work. For instance, the authors' tests with several mail-order catalogs reveal that including the word "sale" beside a price can increase demand by more than 50%. The practice of using a 9 at the end of a price to denote a bargain is so common, you'd think customers would be numb to it. Yet in a study the authors did involving a women's clothing catalog, they increased demand by a third just by changing the price of a dress from $34 to $39. Pricing cues are powerful tools for guiding customers' purchasing decisions, but they must be applied judiciously. Used inappropriately, the cues may breach customers' trust, reduce brand equity, and give rise to lawsuits.

  9. Expected Net Benefit of Vaccinating Rangeland Sheep against Bluetongue Virus Using a Modified-Live versus Killed Virus Vaccine.

    Science.gov (United States)

    Munsick, Tristram R; Peck, Dannele E; Ritten, John P; Jones, Randall; Jones, Michelle; Miller, Myrna M

    2017-01-01

    Recurring outbreaks of bluetongue virus in domestic sheep of the US Intermountain West have prompted questions about the economic benefits and costs of vaccinating individual flocks against bluetongue (BT) disease. We estimate the cost of a BT outbreak on a representative rangeland sheep operation in the Big Horn Basin of the state of Wyoming using enterprise budgets and stochastic simulation. The latter accounts for variability in disease severity and lamb price, as well as uncertainty about when an outbreak will occur. We then estimate the cost of purchasing and administering a BT vaccine. Finally, we calculate expected annual net benefit of vaccinating under various outbreak intervals. Expected annual net benefit is calculated for both a killed virus (KV) vaccine and modified-live virus vaccine, using an observed price of $0.32 per dose for modified-live and an estimated price of $1.20 per dose for KV. The modified-live vaccine's expected annual net benefit has a 100% chance of being positive for an outbreak interval of 5, 10, or 20 years, and a 77% chance of being positive for a 50-year interval. The KV vaccine's expected annual net benefit has a 97% chance of being positive for a 5-year outbreak interval, and a 42% chance of being positive for a 10-year interval. A KV vaccine is, therefore, unlikely to be economically attractive to producers in areas exposed less frequently to BT disease. A modified-live vaccine, however, requires rigorous authorization before legal use can occur in Wyoming. To date, no company has requested to manufacture a modified-live vaccine for commercial use in Wyoming. The KV vaccine poses less risk to sheep reproduction and less risk of unintentional spread, both of which facilitate approval for commercial production. Yet, our results show an economically consequential tradeoff between a KV vaccine's relative safety and higher cost. Unless the purchase price is reduced below our assumed $1.20 per dose, producer adoption of a KV

  10. Transaction costs and asset prices : a dynamic equilibrium model

    OpenAIRE

    Dimitri Vayanos

    1998-01-01

    In this article we study the effects of transaction costs on asset prices. We assume an overlapping generations economy with a riskless, liquid bond, and many risky stocks carrying proportional transaction costs. We obtain stock prices and turnover in closed form. Surprisingly, a stock's price may increase in transaction costs, and a more frequently traded stock may be less adversely affected by an increase in transaction costs. Calculations based on the 'marginal' investor overestimate the e...

  11. ALTERNATE PRICING STRATEGIES IN CONSTRUCTION

    Directory of Open Access Journals (Sweden)

    Krishna Mochtar

    2000-01-01

    Full Text Available Recent research findings on pricing strategies both in general and in construction are reviewed and explored. First%2C pricing strategy in general%2C mostly in the manufacturing industry%2C is reviewed. It includes the concepts of pricing strategy%2C predatory pricing%2C price wars%2C and price policy development. Second%2C pricing strategy in construction is explored. It includes various pricing models for bid price determination%2C such as the Friedman-Gates models%2C expected utility models%2C risk-pricing model%2C and the crew-day%2C multiple regression%2C and fuzzy-set pricing models. In conclusion%2C pricing strategies in construction are still predominantly based on a cost-based approach. More recent models try to close the gap between the models and the real life conditions of a bidder%5C%27s decision-making process. It appears that there are more problems in cost-based pricing as opposed to market-based pricing. Consequently%2C it is highly recommended that%2C alternative pricing approach such as that are closer to the proposed market-based pricing model need to be explored and developed for use in the construction industry. Abstract in Bahasa Indonesia : Pricing+strategy%2C+cost-based+pricing%2C+market-based+pricing.

  12. Markets, voucher subsidies and free nets combine to achieve high bed net coverage in rural Tanzania

    Directory of Open Access Journals (Sweden)

    Gerrets Rene PM

    2008-06-01

    Full Text Available Abstract Background Tanzania has a well-developed network of commercial ITN retailers. In 2004, the government introduced a voucher subsidy for pregnant women and, in mid 2005, helped distribute free nets to under-fives in small number of districts, including Rufiji on the southern coast, during a child health campaign. Contributions of these multiple insecticide-treated net delivery strategies existing at the same time and place to coverage in a poor rural community were assessed. Methods Cross-sectional household survey in 6,331 members of randomly selected 1,752 households of 31 rural villages of Demographic Surveillance System in Rufiji district, Southern Tanzania was conducted in 2006. A questionnaire was administered to every consenting respondent about net use, treatment status and delivery mechanism. Findings Net use was 62.7% overall, 87.2% amongst infants (0 to1 year, 81.8% amongst young children (>1 to 5 years, 54.5% amongst older children (6 to 15 years and 59.6% amongst adults (>15 years. 30.2% of all nets had been treated six months prior to interview. The biggest source of nets used by infants was purchase from the private sector with a voucher subsidy (41.8%. Half of nets used by young children (50.0% and over a third of those used by older children (37.2% were obtained free of charge through the vaccination campaign. The largest source of nets amongst the population overall was commercial purchase (45.1% use and was the primary means for protecting adults (60.2% use. All delivery mechanisms, especially sale of nets at full market price, under-served the poorest but no difference in equity was observed between voucher-subsidized and freely distributed nets. Conclusion All three delivery strategies enabled a poor rural community to achieve net coverage high enough to yield both personal and community level protection for the entire population. Each of them reached their relevant target group and free nets only temporarily

  13. 7 CFR 1030.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  14. 7 CFR 1124.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  15. Impacts of price and exchange rate policies on pesticide use in the Philippines

    OpenAIRE

    Tjornhom, Jessica D; Norton, George W.; Gapud, Victor

    1998-01-01

    Pesticide prices can influence producer decisions to apply pesticides as opposed to nonchemical means of pest control. Those prices are in tum influenced by price and exchange rate policies. The effective rate of protection for nine pesticides commonly applied to vegetables in the Philippines was calculated to determine whether government policies are creating incentives or disincentives to adopt more integrated pest management methods. Calculations found that direct price policies, primarily...

  16. 340B Drug Pricing Program Ceiling Price and Manufacturer Civil Monetary Penalties Regulation. Final rule.

    Science.gov (United States)

    2017-01-05

    The Health Resources and Services Administration (HRSA) administers section 340B of the Public Health Service Act (PHSA), referred to as the "340B Drug Pricing Program" or the "340B Program." This final rule will apply to all drug manufacturers that are required to make their drugs available to covered entities under the 340B Program. This final rule sets forth the calculation of the 340B ceiling price and application of civil monetary penalties (CMPs).

  17. Entry Decision and Pricing Policies

    OpenAIRE

    Sílvia Jorge; Cesaltina Pires

    2007-01-01

    We extend the analysis of the impact of firms' pricing policies upon entry to a framework where price competition and differentiated products are present. We consider a model where an incumbent serves two distinct and independent geographical markets and an entrant may enter in one of the markets. Entry under discriminatory pricing is more likely than under uniform pricing when entry is profitable under discriminatory pricing but unprofitable under uniform pricing. Our results show entry unde...

  18. Cigarette price level and variation in five Southeast Asian countries.

    Science.gov (United States)

    Liber, Alex C; Ross, Hana; Ratanachena, Sophapan; Dorotheo, E Ulysses; Foong, Kin

    2015-06-01

    To monitor and analyse impacts of the interaction between tobacco excise tax policy and industry price strategy, on the price level and variation of cigarettes sold in five Southeast Asian countries (Indonesia, Cambodia, Lao PDR, the Philippines and Vietnam). Prices of cigarette sold by sticks and packs were collected through an in-person survey of retailers during 2011. Mean cigarette prices and price variation were calculated in each study country for single cigarettes, whole packs and brand groups. Price variation of whole packs was greater in countries with ad-valorem excise tax structures (Cambodia, Lao PDR and Vietnam) than in countries with multitiered specific excise taxes (Indonesia and the Philippines). The price variation for single sticks appeared to be driven by local currency denomination. Cigarettes sold individually cost more per stick than cigarettes sold in whole packs in every brand group except for Indonesia's domestic brands. Tobacco industry strategy and excise tax structure drove the price level and variation of cigarettes sold in packs, while currency denominations influence the selling price of single sticks. To maximise the effectiveness of tobacco tax policies, countries should adopt specific excise tax structures to decrease cigarette price variation, which would minimise opportunities for smokers to 'trade down' to a cheaper brand to avoid a tax-driven price increase. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://group.bmj.com/group/rights-licensing/permissions.

  19. Pro NET Best Practices

    CERN Document Server

    Ritchie, Stephen D

    2011-01-01

    Pro .NET Best Practices is a practical reference to the best practices that you can apply to your .NET projects today. You will learn standards, techniques, and conventions that are sharply focused, realistic and helpful for achieving results, steering clear of unproven, idealistic, and impractical recommendations. Pro .NET Best Practices covers a broad range of practices and principles that development experts agree are the right ways to develop software, which includes continuous integration, automated testing, automated deployment, and code analysis. Whether the solution is from a free and

  20. Getting to Net Zero

    Energy Technology Data Exchange (ETDEWEB)

    2016-09-01

    The technology necessary to build net zero energy buildings (NZEBs) is ready and available today, however, building to net zero energy performance levels can be challenging. Energy efficiency measures, onsite energy generation resources, load matching and grid interaction, climatic factors, and local policies vary from location to location and require unique methods of constructing NZEBs. It is recommended that Components start looking into how to construct and operate NZEBs now as there is a learning curve to net zero construction and FY 2020 is just around the corner.

  1. Instant Lucene.NET

    CERN Document Server

    Heydt, Michael

    2013-01-01

    Filled with practical, step-by-step instructions and clear explanations for the most important and useful tasks. A step-by-step guide that helps you to index, search, and retrieve unstructured data with the help of Lucene.NET.Instant Lucene.NET How-to is essential for developers new to Lucene and Lucene.NET who are looking to get an immediate foundational understanding of how to use the library in their application. It's assumed you have programming experience in C# already, but not that you have experience with search techniques such as information retrieval theory (although there will be a l

  2. Inflation and asset prices

    OpenAIRE

    Tatom, John

    2011-01-01

    Changes in the general level of prices and inflation have profound effects on asset prices. There are several reasons for these effects and the influence differs depending on the source of the inflation and whether it is expected or not. To understand these effects it is important to clarify what is meant by inflation, the pure theory of the sources of inflation, how inflation affects goods and services prices and how it affects the assets that are used to finance production, both equity pr...

  3. Housing Price Forecastability

    DEFF Research Database (Denmark)

    Bork, Lasse; Møller, Stig Vinther

    2016-01-01

    We examine U.S. housing price forecastability using principal component analysis (PCA), partial least squares (PLS), and sparse PLS (SPLS). We incorporate information from a large panel of 128 economic time series and show that macroeconomic fundamentals have strong predictive power for future...... movements in housing prices. We find that (S)PLS models systematically dominate PCA models. (S)PLS models also generate significant out-of-sample predictive power over and above the predictive power contained by the price-rent ratio, autoregressive benchmarks, and regression models based on small datasets....

  4. Crude oil prices: Speculation versus fundamentals

    Science.gov (United States)

    Kolodziej, Marek Krzysztof

    Beginning in 2004, the price of crude oil fluctuates rapidly over a wide range. Large and rapid price increases have recessionary consequences and dampen long-term infrastructural investment. I investigate whether price changes are driven by market fundamentals or speculation. With regard to market fundamentals, I revisit econometric evidence for the importance of demand shocks, as proxied by dry maritime cargo rates, on oil prices. When I eliminate transportation costs from both sides of the equation, disaggregate OPEC and non-OPEC production, and allow for more than one cointegrating relation, I find that previous specifications are inconsistent with arguments that demand shocks play an important role. Instead, results confirm the importance of OPEC supply shocks. I investigate two channels by which speculation may affect oil prices; the direct effect of trader behavior and changes in oil from a commodity to a financial asset. With regard to trader behavior, I find evidence that trader positions are required to explain the spread between spot and futures prices of crude oil on the New York Mercantile Exchange. The inclusion of trader positions clarifies the process of equilibrium error correction, such that there is bidirectional causality between prices and trader positions. This creates the possibility of speculative bubbles. With regard to oil as a commodity and/or financial asset, I use a Kalman Filter model to estimate the time-varying partial correlation between returns to investments in equity and oil markets. This correlation changes from negative to positive at the onset of the 2008 financial crisis. The low interest rates used to rescue the economy depress convenience yields, which reduces the benefits of holding oil as a commodity. Instead, oil becomes a financial asset (on net) as the oil market changed from contango to backwardation. Contradicting simple political narratives, my research suggests that both market fundamentals and speculation drive

  5. PhysioNet

    Data.gov (United States)

    U.S. Department of Health & Human Services — The PhysioNet Resource is intended to stimulate current research and new investigations in the study of complex biomedical and physiologic signals. It offers free...

  6. NetSig

    DEFF Research Database (Denmark)

    Horn, Heiko; Lawrence, Michael S; Chouinard, Candace R

    2018-01-01

    Methods that integrate molecular network information and tumor genome data could complement gene-based statistical tests to identify likely new cancer genes; but such approaches are challenging to validate at scale, and their predictive value remains unclear. We developed a robust statistic (Net......Sig) that integrates protein interaction networks with data from 4,742 tumor exomes. NetSig can accurately classify known driver genes in 60% of tested tumor types and predicts 62 new driver candidates. Using a quantitative experimental framework to determine in vivo tumorigenic potential in mice, we found that Net......Sig candidates induce tumors at rates that are comparable to those of known oncogenes and are ten-fold higher than those of random genes. By reanalyzing nine tumor-inducing NetSig candidates in 242 patients with oncogene-negative lung adenocarcinomas, we find that two (AKT2 and TFDP2) are significantly amplified...

  7. Homology Groups of a Pipeline Petri Net

    Directory of Open Access Journals (Sweden)

    A. A. Husainov

    2013-01-01

    Full Text Available Petri net is said to be elementary if every place can contain no more than one token. In this paper, it is studied topological properties of the elementary Petri net for a pipeline consisting of n functional devices. If the work of the functional devices is considered continuous, we can come to some topological space of “intermediate” states. In the paper, it is calculated the homology groups of this topological space. By induction on n, using the Addition Sequence for homology groups of semicubical sets, it is proved that in dimension 0 and 1 the integer homology groups of these nets are equal to the group of integers, and in the remaining dimensions are zero. Directed homology groups are studied. A connection of these groups with deadlocks and newsletters is found. This helps to prove that all directed homology groups of the pipeline elementary Petri nets are zeroth.

  8. Edgeworth Price Cycles, Cost-based Pricing and Sticky Pricing in Retail Gasoline Markets

    OpenAIRE

    Noel, Michael

    2004-01-01

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

  9. TideNet

    Science.gov (United States)

    2015-10-30

    query tide data sources in a desired geographic region of USA and its territories (Figure 1). Users can select a tide data source through the Google Map ...select data sources according to the desired geographic region. It uses the Google Map interface to display data from different sources. Recent...Coastal Inlets Research Program TideNet The TideNet is a web-based Graphical User Interface (GUI) that provides users with GIS mapping tools to

  10. Building Neural Net Software

    OpenAIRE

    Neto, João Pedro; Costa, José Félix

    1999-01-01

    In a recent paper [Neto et al. 97] we showed that programming languages can be translated on recurrent (analog, rational weighted) neural nets. The goal was not efficiency but simplicity. Indeed we used a number-theoretic approach to machine programming, where (integer) numbers were coded in a unary fashion, introducing a exponential slow down in the computations, with respect to a two-symbol tape Turing machine. Implementation of programming languages in neural nets turns to be not only theo...

  11. Interaction Nets in Russian

    OpenAIRE

    Salikhmetov, Anton

    2013-01-01

    Draft translation to Russian of Chapter 7, Interaction-Based Models of Computation, from Models of Computation: An Introduction to Computability Theory by Maribel Fernandez. "In this chapter, we study interaction nets, a model of computation that can be seen as a representative of a class of models based on the notion of 'computation as interaction'. Interaction nets are a graphical model of computation devised by Yves Lafont in 1990 as a generalisation of the proof structures of linear logic...

  12. Programming NET 35

    CERN Document Server

    Liberty, Jesse

    2009-01-01

    Bestselling author Jesse Liberty and industry expert Alex Horovitz uncover the common threads that unite the .NET 3.5 technologies, so you can benefit from the best practices and architectural patterns baked into the new Microsoft frameworks. The book offers a Grand Tour" of .NET 3.5 that describes how the principal technologies can be used together, with Ajax, to build modern n-tier and service-oriented applications. "

  13. Dynamic bi-product bundle pricing problem

    Directory of Open Access Journals (Sweden)

    Rafiei Hamed

    2014-01-01

    Full Text Available This paper addresses bundle pricing problem of two products in a stochastic environment so as to maximize net profit of a retailer. In the considered problem, it is assumed that customers are received upon a Poisson distribution and their demands follow a bi-variant distribution function. Also, it is assumed that products are sold individually or in the form of a bundle, which are offered from an initial stock of the products. To tackle the problem, a stochastic dynamic program is developed in which optimum values of the initial stock and order quantities of every planning period are determined. Moreover, prices of the individual products and their bundle are optimized. Also, the proposed dynamic program tackles bundling/ unbundling decisions taken in every planning period. A numerical example of a two planning period horizon is considered to validate the proposed model.

  14. Health, Wealth and the Price of Oil.

    Science.gov (United States)

    Evans, Robert G

    2016-05-01

    The correlation between health and wealth is arguably a very solidly established relationship. Yet that relationship may be reversing. Falling oil prices have raised (average) per capita incomes, worldwide. But from a long-run perspective they are a public health disaster. The latter is easy to see: low oil reduces the incentive to develop alternative energy sources and "bend the curve" of global warming. Their principal impact on incomes has been redistributional - Alberta and Russia lose, Ontario and Germany gain, etc. Zero net gain. But the price has fallen because technical progress in extracting American shale oil has forced the Saudis' hand. These efficiencies have real benefits for (average) incomes, but costs for long-run health. A compensating carbon tax is an obvious response. Copyright © 2016 Longwoods Publishing.

  15. Market News Price Dataset

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Real-time price data collected by the Boston Market News Reporter. The NOAA Fisheries' "Fishery Market News" began operations in New York City on February 14, 1938....

  16. TRANSFER PRICING METHODS

    Directory of Open Access Journals (Sweden)

    Olga A. Kirova

    2014-01-01

    Full Text Available This article discusses methods of transfer pricing as a set of methods and operations on the justification of compliance rates in a transaction between related parties market level.

  17. RDBMS prices drop

    National Research Council Canada - National Science Library

    Krill, Paul

    1997-01-01

    .... Microsoft began offering a special Web browser-based access price of $2,999 per server for its SQL Server relational database management system in 1996, even though this could mean lost revenues from client licenses...

  18. AKRO: Standard Prices

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Standard prices are generated for cost recovery programs in the Individual Fishing Quota (IFQ) halibut and sablefish, BSAI Rationalized crab, and Central Gulf of...

  19. Price and cost estimation

    Science.gov (United States)

    Stewart, R. D.

    1979-01-01

    Price and Cost Estimating Program (PACE II) was developed to prepare man-hour and material cost estimates. Versatile and flexible tool significantly reduces computation time and errors and reduces typing and reproduction time involved in preparation of cost estimates.

  20. Price Recall, Bertrand Paradox and Price Dispersion With Elastic Demand

    NARCIS (Netherlands)

    Carvalho, M.

    2009-01-01

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

  1. Forecasting Day-Ahead Electricity Prices : Utilizing Hourly Prices

    NARCIS (Netherlands)

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

    2013-01-01

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

  2. Analyzing the effects of past prices on reference price formation

    NARCIS (Netherlands)

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

    2004-01-01

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

  3. Uncertainty in Forest Net Present Value Estimations

    Directory of Open Access Journals (Sweden)

    Ilona Pietilä

    2010-09-01

    Full Text Available Uncertainty related to inventory data, growth models and timber price fluctuation was investigated in the assessment of forest property net present value (NPV. The degree of uncertainty associated with inventory data was obtained from previous area-based airborne laser scanning (ALS inventory studies. The study was performed, applying the Monte Carlo simulation, using stand-level growth and yield projection models and three alternative rates of interest (3, 4 and 5%. Timber price fluctuation was portrayed with geometric mean-reverting (GMR price models. The analysis was conducted for four alternative forest properties having varying compartment structures: (A a property having an even development class distribution, (B sapling stands, (C young thinning stands, and (D mature stands. Simulations resulted in predicted yield value (predicted NPV distributions at both stand and property levels. Our results showed that ALS inventory errors were the most prominent source of uncertainty, leading to a 5.1–7.5% relative deviation of property-level NPV when an interest rate of 3% was applied. Interestingly, ALS inventory led to significant biases at the property level, ranging from 8.9% to 14.1% (3% interest rate. ALS inventory-based bias was the most significant in mature stand properties. Errors related to the growth predictions led to a relative standard deviation in NPV, varying from 1.5% to 4.1%. Growth model-related uncertainty was most significant in sapling stand properties. Timber price fluctuation caused the relative standard deviations ranged from 3.4% to 6.4% (3% interest rate. The combined relative variation caused by inventory errors, growth model errors and timber price fluctuation varied, depending on the property type and applied rates of interest, from 6.4% to 12.6%. By applying the methodology described here, one may take into account the effects of various uncertainty factors in the prediction of forest yield value and to supply the

  4. Midsouth Pulpwood Prices, 1991

    Science.gov (United States)

    Patrick E. Miller

    1993-01-01

    The average delivered price for a cord of Midsouth roundwood in 1991 was $56.39, an increase of 6.5 percent since 1990. Softwood roundwood averaged $58.24 and hardwoods, $50.48 per standard cord, up 2.8 and 7.9 percent, respectively. Chipped residue prices were $26.52 for softwood and $21.0l for hardwood per green ton. The expenditure for wood fiber in the Midsouth...

  5. Endogenous price leadership

    OpenAIRE

    van Damme, E.E.C.; Hurkens, S.

    2004-01-01

    We consider a linear price setting duopoly game with differentiated products and determine endogenously which of the players will lead and which will follow. While the follower role is most attractive for each firm, we show that waiting is more risky for the low cost firm so that, consequently, risk dominance considerations, as in Harsanyi and Selten (1988), allow the conclusion that only the high cost firm will choose to wait. Hence, the low cost firm will emerge as the endogenous price leader.

  6. Supermarket Pricing Strategies

    OpenAIRE

    Paul B. Ellickson; Sanjog Misra

    2008-01-01

    Most supermarket firms choose to position themselves by offering either everyday low prices (EDLP) across several items or offering temporary price reductions (promotions) on a limited range of items. While this choice has been addressed from a theoretical perspective in both the marketing and economic literature, relatively little is known about how these decisions are made in practice, especially within a competitive environment. This paper exploits a unique store level data set consisting ...

  7. Dynamic Pricing in Electronic Commerce Using Neural Network

    Science.gov (United States)

    Ghose, Tapu Kumar; Tran, Thomas T.

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

  8. IDENTIFYING PRODUCT AND PRICE STRATEGIES FOR DESIGNING TRANSACTIONAL BANKING PACKAGES ADDRESSED TO SMES (CONSIDERATIONS

    Directory of Open Access Journals (Sweden)

    Giuca Simona-Mihaela

    2014-07-01

    Full Text Available The current paper has the aim to provide guidelines for designing efficient product and price strategies, through proposed business cases which could be used especially for banking products addressed to SMEs. While identifying the optimal product and price strategy and designing the product catalogue structure, the marketing specialist should definitely consider existing portfolio behaviour and estimate the growing potential (if possible, overall portfolio, with focus on accurately defining the additional impact of the newly proposed product/ products. A business case contains estimations for results to be generated by products to be launched or optimized. This paper presents complex schemes for business case scenarios for migration of existing portfolio to the new products, but also considers new clients acquisition based on important features of the products. The pricing strategy is not a simple task to manage. Especially when speaking about transactional packages (for which the price is lower than separate services included, some segments or clusters may generate loss to the bank if they already used the services at a higher price than the one of the package. Therefore, the decision of setting up specific prices needs to be based on an accurate and complex analysis, as presented in current paper. The assumptions used in a business case need to be relevant for the entire process of designing and launching a product, therefore they can always be adjusted for better calculation of the impact. No matter if the assumptions and prices remain as in the initial proposal or not, the steps to be followed are the same. Segmentation also plays an important role in designing the product strategy, since the target for a product or product catalogue can be represented by a segment, a sub segment or a cluster of many segments. Not always the initial segmentation represents the clustering for the product strategy. Sometimes, behaviour of existing clients

  9. DEMAND AND PRICES

    Directory of Open Access Journals (Sweden)

    VĂDUVA MARIA

    2014-08-01

    Full Text Available Studying the consumer’s behavior by the ordinal approach of utility with the help of indifference curves allows us to deduce the two “movement laws of demand” in this chapter: the demand for a “normal” good is decreasing function of its price and an increasing function of income. We will use the elasticity concept to measure the intensity of the relation that is established between the demand, on the one hand, and prices or income, on the other hand: elasticity – price, direct and crossed, and elasticity – income. We can classify the goods in many categories, depending on the values that this elasticity takes. The demand elasticity can be determined depending on price and income. It reflects the proportion in which the demand for different products changes with the modification of the consumers’ income, the other factors remaining constant. The elasticity compared to the income is a demonstration of legality from the consumer’s sphere, which determines a certain hierarchy of the needs of each population category in a certain level of income. The movement of prices orients both the options and decisions of producers, namely the most useful productions and the most efficient investments, as well as the consumers’ options and decisions on the most advantageous buying of goods and services that they need. The prices appear as a “signal system” coordinating and making coherence the economic agents’ decisions – producers, consumers and population.

  10. Patients Who Choose Primary Care Physicians Based On Low Office Visit Price Can Realize Broader Savings.

    Science.gov (United States)

    Mehrotra, Ateev; Huckfeldt, Peter J; Haviland, Amelia M; Gascue, Laura; Sood, Neeraj

    2016-12-01

    Price transparency initiatives encourage patients to save money by choosing physicians with a relatively low price per office visit. Given that the price of such visits represents a small fraction of total spending, the extent of the savings from choosing such physicians has not been clear. Using a national sample of commercial claims data, we compared the care received by patients of high- and low-price primary care physicians. The median price for an established patient's office visit was $60 among low-price physicians and $86 among high-price physicians (price was calculated as reimbursement plus out-of-pocket spending). Patients of low-price physicians also received, on average, relatively low-price lab tests, imaging, and other procedures. Total spending per year among patients cared for by low-price physicians was $690 less than spending among patients cared for by high-price physicians. There were no consistent differences in patients' use of services between high- and low-price physicians. Despite modest differences in physicians' office visit prices, patients of low-price physicians had substantively lower overall spending, compared to patients of high-price physicians. Project HOPE—The People-to-People Health Foundation, Inc.

  11. Mass distribution of free insecticide-treated nets do not interfere with continuous net distribution in Tanzania.

    Science.gov (United States)

    Eze, Ikenna C; Kramer, Karen; Msengwa, Amina; Mandike, Renata; Lengeler, Christian

    2014-05-27

    To protect the most vulnerable groups from malaria (pregnant women and infants) the Tanzanian Government introduced a subsidy (voucher) scheme in 2004, on the basis of a public-private partnership. These vouchers are provided to pregnant women at their first antenatal care visit and mothers of infants at first vaccination. The vouchers are redeemed at registered retailers for a long-lasting insecticidal net against the payment of a modest top-up price. The present work analysed a large body of data from the Tanzanian National Voucher Scheme, focusing on interactions with concurrent mass distribution campaigns of free nets. In an ecologic study involving all regions of Tanzania, voucher redemption data for the period 2007-2011, as well as data on potential determinants of voucher redemption were analysed. The four outcome variables were: pregnant woman and infant voucher redemption rates, use of treated bed nets by all household members and by under- five children. Each of the outcomes was regressed with selected determinants, using a generalized estimating equation model and accounting for regional data clustering. There was a consistent improvement in voucher redemption rates over the selected time period, with rates >80% in 2011. The major determinants of redemption rates were the top-up price paid by the voucher beneficiary, the retailer- clinic ratio, and socio-economic status. Improved redemption rates after 2009 were most likely due to reduced top-up prices (following a change in policy). Redemption rates were not affected by two major free net distribution campaigns. During this period, there was a consistent improvement in net use across all the regions, with rates of up to 75% in 2011. The key components of the National Treated Nets Programme (NATNETS) seem to work harmoniously, leading to a high level of net use in the entire population. This calls for the continuation of this effort in Tanzania and for emulation by other countries with endemic malaria.

  12. Prices in the two Germanies

    NARCIS (Netherlands)

    Dietzenbacher, E; Wagener, HJ

    Comparative evaluations across economic systems are often hampered by the typical valuation problem, that is, market prices have a different meaning than planned prices. This paper considers prices in the two Germanies and the widely accepted hypothesis that East German prices did not reflect

  13. Equilibrium adjustment of disequilibrium prices

    NARCIS (Netherlands)

    Herings, P.J.J.; van der Laan, G.; Talman, A.J.J.; Venniker, R.

    1994-01-01

    We consider an exchange economy in which price rigidities are present. In the short run the non-numeraire commodities have a exible price level with respect to the numeraire commodity but their relative prices are mutually fixed. In the long run prices are assumed to be completely exible. For a

  14. Demand and willingness-to-pay for bed nets in Tanzania: results from a choice experiment.

    Science.gov (United States)

    Gingrich, Chris D; Ricotta, Emily; Kahwa, Amos; Kahabuka, Catherine; Koenker, Hannah

    2017-07-14

    Universal coverage campaigns for long-lasting insecticide-treated nets do not always reach the goal of one net for every two household members, and even when ownership of at least one net per household is high, many households may not own enough nets. The retail market provides these households options for replacing or increasing the number of nets they own with products that best fit their needs since a variety of net shapes, sizes, and colours are available. Hence, it is important to understand the factors affecting private net demand. This study explores private demand for nets in Tanzania using a discrete choice experiment. The experiment provides participants the option to buy nets with their own money, and thus should prove more accurate than a hypothetical survey of net preferences. Nearly 800 participants sampled in two regions showed an overall strong demand for nets, with 40% choosing to buy a net across all seven combinations of net prices and characteristics such as size, shape, and insecticide treatment. Only 8% of all participants chose not to buy a single net. A key factor influencing demand was whether a participant's household currently owned sufficient nets for all members, with rural participants showing lower net coverage and greater demand than urban participants. Both poor and less poor households showed strong evidence of making purchase decisions based on more than price alone. Mean willingness-to-pay values for a net started at US$1.10 and grew by US$0.50-1.40 for various attributes such as rectangular shape, large size, and insecticide treatment. The impact of price on demand was negative but small, with elasticity values between -0.25 and -0.45. The results suggest that private demand for nets in Tanzania could potentially supplement future coverage campaigns. Net manufacturers and retailers should advertise and promote consumers' preferred net attributes to improve sales and further expand net access and coverage. To overcome household

  15. Medicare Part B Drug Average Sales Pricing Files

    Data.gov (United States)

    U.S. Department of Health & Human Services — Manufacturer reporting of Average Sales Price (ASP) data - A manufacturers ASP must be calculated by the manufacturer every calendar quarter and submitted to CMS...

  16. USING TARGET COST IN DETERMINING PRICE

    Directory of Open Access Journals (Sweden)

    Aurelian Ionut CEAUSESCU

    2010-12-01

    Full Text Available The target cost method was designed as a comprehensive set of tools for cost planning, cost management and cost control. This method is based on the idea that the selling price of a product is fixed at the market. Price does not therefore depend on cost. Target costing method is not only a method for calculating the costs, but also a method which uses modern management techniques on the study assessed the market value analysis, reducing the diversity of technology, manufacturing, partnership suppliers.

  17. Board Structure and Price Informativeness

    OpenAIRE

    Ferreira, Daniel; Ferreira, Miguel A.; Raposo, Clara C.

    2008-01-01

    We develop and test the hypothesis that private information incorporated into stock prices affects the structure of corporate boards. Stock price informativeness may be a complement to board monitoring, because the information revealed by prices can be used by directors to monitor management. But price informativeness may also be a substitute for board monitoring, because more informative prices can trigger external monitoring mechanisms, such as takeovers. We find robust evidence for the sub...

  18. Supermarket Promotions and Food Prices

    OpenAIRE

    Lan, H.; Lloyd, T. A.; Morgan, C. W.

    2014-01-01

    Using a sample comprising nearly a quarter of a million weekly prices from the largest seven supermarket chains in the UK, we present statistical evidence on two pricing practices that have attracted public interest. Analysing price dynamics before and after periods of promotional discounting the investigation finds first, no evidence of a general tendency for sales to disguise rises in the regular price, and second, some evidence for prices to rise prior to sales in a manner that is consiste...

  19. 7 CFR 1131.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  20. 7 CFR 1032.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  1. 7 CFR 1005.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  2. 7 CFR 1006.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  3. 7 CFR 1001.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  4. 7 CFR 1007.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  5. 7 CFR 1033.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  6. 7 CFR 1126.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  7. 75 FR 69591 - Medicaid Program; Withdrawal of Determination of Average Manufacturer Price, Multiple Source Drug...

    Science.gov (United States)

    2010-11-15

    ... particular, drug manufacturers would be advised to base their AMP calculations on the definitions set forth... definition of AMP is used to calculate 340B ceiling prices as HRSA uses AMP data to calculate the 340B drug... of Average Manufacturer Price, Multiple Source Drug Definition, and Upper Limits for Multiple Source...

  8. Pharmaceutical Pricing: The Use of External Reference Pricing.

    Science.gov (United States)

    Ruggeri, Kai; Nolte, Ellen

    2013-01-01

    External reference pricing, or international price comparison, is a common strategy to control prices of pharmaceuticals that are protected by intellectual property rights and benefit from a legal monopoly (in-patent drugs). In the UK negotiations are under way that seek to define new arrangements for the pricing of branded (new) medicines from 2014. The pharmaceutical market in the UK only accounts for a small proportion of global sales; however, UK prices are important as many countries reference their prices against those in the UK. This article seeks to contribute to our understanding of approaches to pharmaceutical pricing in high-income countries and the role of reference pricing as a means to determining pharmaceutical prices. Reviewing experiences in Canada, France, Germany, Italy, the Netherlands and Spain, we find high variability of external reference pricing across different settings and of the relative importance of this approach in comparison with other pricing strategies. There was also considerable variation in the terminology and practices used, and understanding the complexities of countries included in reference baskets for external pricing requires considerable semantic clarification. There was considerable overlap between countries that cross-reference, and it remains challenging to estimate the direct, immediate impact on external reference baskets. This review suggests that the international impact of pricing changes in the UK is likely to be minimal or indirect, largely because of the diverse ways in which reference pricing is implemented in the countries examined.

  9. La plataforma .NET

    OpenAIRE

    Fornas Estrada, Miquel

    2008-01-01

    L'aparició de la plataforma .NET Framework ha suposat un canvi molt important en la forma de crear i distribuir aplicacions, degut a que incorpora una sèrie d'innovacions tècniques i productives que simplifiquen molt les tasques necessàries per desenvolupar un projecte. La aparición de la plataforma. NET Framework ha supuesto un cambio muy importante en la forma de crear y distribuir aplicaciones, debido a que incorpora una serie de innovaciones técnicas y productivas que simplifican mucho...

  10. Biological Petri Nets

    CERN Document Server

    Wingender, E

    2011-01-01

    It was suggested some years ago that Petri nets might be well suited to modeling metabolic networks, overcoming some of the limitations encountered by the use of systems employing ODEs (ordinary differential equations). Much work has been done since then which confirms this and demonstrates the usefulness of this concept for systems biology. Petri net technology is not only intuitively understood by scientists trained in the life sciences, it also has a robust mathematical foundation and provides the required degree of flexibility. As a result it appears to be a very promising approach to mode

  11. A Price Comparison of Antibiotics in a Tertiary Healthcare Facility in ...

    African Journals Online (AJOL)

    The prices of 15 different antibiotics were obtained from the hospital formulary and were compared with the international prices as obtained from an international drug formulary. These were converted to the same currency and the Median Price Ratio (MPR) was calculated for each antibiotic drug. The MPR ranged from 0.38 ...

  12. Fish is food--the FAO's fish price index.

    Science.gov (United States)

    Tveterås, Sigbjørn; Asche, Frank; Bellemare, Marc F; Smith, Martin D; Guttormsen, Atle G; Lem, Audun; Lien, Kristin; Vannuccini, Stefania

    2012-01-01

    World food prices hit an all-time high in February 2011 and are still almost two and a half times those of 2000. Although three billion people worldwide use seafood as a key source of animal protein, the Food and Agriculture Organization (FAO) of the United Nations-which compiles prices for other major food categories-has not tracked seafood prices. We fill this gap by developing an index of global seafood prices that can help to understand food crises and may assist in averting them. The fish price index (FPI) relies on trade statistics because seafood is heavily traded internationally, exposing non-traded seafood to price competition from imports and exports. Easily updated trade data can thus proxy for domestic seafood prices that are difficult to observe in many regions and costly to update with global coverage. Calculations of the extent of price competition in different countries support the plausibility of reliance on trade data. Overall, the FPI shows less volatility and fewer price spikes than other food price indices including oils, cereals, and dairy. The FPI generally reflects seafood scarcity, but it can also be separated into indices by production technology, fish species, or region. Splitting FPI into capture fisheries and aquaculture suggests increased scarcity of capture fishery resources in recent years, but also growth in aquaculture that is keeping pace with demand. Regionally, seafood price volatility varies, and some prices are negatively correlated. These patterns hint that regional supply shocks are consequential for seafood prices in spite of the high degree of seafood tradability.

  13. Price Analysis of Railway Freight Transport under Marketing Mechanism

    Science.gov (United States)

    Shi, Ying; Fang, Xiaoping; Chen, Zhiya

    Regarding the problems in the reform of the railway tariff system and the pricing of the transport, by means of assaying the influence of the price elasticity on the artifice used for price, this article proposed multiple regressive model which analyzed price elasticity quantitatively. This model conclude multi-factors which influences on the price elasticity, such as the averagely railway freight charge, the averagely freight haulage of proximate supersede transportation mode, the GDP per capita in the point of origin, and a series of dummy variable which can reflect the features of some productive and consume demesne. It can calculate the price elasticity of different classes in different domains, and predict the freight traffic volume on different rate levels. It can calculate confidence-level, and evaluate the relevance of each parameter to get rid of irrelevant or little relevant variables. It supplied a good theoretical basis for directing the pricing of transport enterprises in market economic conditions, which is suitable for railway freight, passenger traffic and other transportation manner as well. SPSS (Statistical Package for the Social Science) software was used to calculate and analysis the example. This article realized the calculation by HYFX system(Ministry of Railways fund).

  14. Environmental prices in the long term; Miljoepriser paa lang sikt

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-12-31

    Economic analyses may undervalue important long-time environmental impacts of economic activities if the calculated price of the impacts are wrong. This report discusses how one may estimate the future calculated price of some environmental services. The term environmental service denotes something the presence or absence of which has an impact on the environment that can be valued. Thus, puffins, NOx emissions and suspended dust are all environmental services. The calculated price of an environmental service is the price used in socio-economic benefit-cost analyses. A calculation method is proposed and evaluated by application to such diverse environmental services as the stock of puffins, impregnated wood, NOx emissions and suspended dust. None of these services are priced in the market. The proposed method can be used to estimate the future prices of environmental services that are not priced in the market. The most important difficulties experienced with the method have been (1) how to find data for the increase in the supply of environmental services and (2) how to define environmental services in a satisfactory way. 29 refs., 5 figs., 6 tabs.

  15. DEFINITION OF COMPETITIVE PRICE OF HOUSES PROCEEDING FROM THEIR CONSUMER PROPERTIES

    Directory of Open Access Journals (Sweden)

    Хакимзян Амирович Фасхиев

    2016-11-01

    Full Text Available The method of determination of competitive prices of individual houses, which is based on the price depending on the customer value of the object to the decision maker. Line «red price» compared to residential houses built on the basis of an assessment of their quality aggregate-decomposition method. The price of the test at home is determined by the line «red price» for its calculated level of quality. The technique can be used in the valuation of real estate activities. An example of determining the price of an apartment house, located in the suburbs of a large city.

  16. [Current problems in assessing drug prices].

    Science.gov (United States)

    Lucioni, C

    1989-01-01

    Two reasons provide historical justification for controlling drug prices: safeguarding the consumer and safeguarding public demand. Due to the increased presence of the "third payer" in public health systems this second reason has become more important. Nevertheless, over the last decade, a third purpose has attached to public control of prices: promotion of drug manufacturers economic development. The justification offered for this is that development of pharmaceutical companies contributes to the economic growth of the host country by creating employment, exports and research activity. The situations in Germany, Great Britain and United States are often cited in support of this thesis. As a model for price policy in Italy, however, it has not been successful. The rapid growth of prices in fact has not created greater employment and the foreign exchange deficit has risen rapidly. In other words the growing cost of drugs to the National Health Service has not produced hoped-for economic benefits. It would therefore be opportune to modify the mechanisms of price control by seeking a better balance in the interests involved (safeguarding public demand versus manufacturers economic growth). Methodologies available point to the evaluation of the therapeutic utility of a drug as a useful tool for this purpose. By this method the price of a new drug may only be higher than that of a drug already on the market if its therapeutic utility (which does not coincide only with clinical effectiveness) is greater. Appropriate evaluation techniques of benefits deriving from a new drug (cost-effectiveness and cost-utility) do exist and can be taken into consideration in a new method of calculating drug price.

  17. Cost and Price Collaboration

    Science.gov (United States)

    2016-04-30

    competitions and dual sourcing. [patrick.n.watkins4.civ@mail.mil] Abstract This paper examines how collaboration between the cost analysis and price ...qÜáêíÉÉåíÜ=^ååì~ä= ^Åèìáëáíáçå=oÉëÉ~êÅÜ= póãéçëáìã= qÜìêëÇ~ó=pÉëëáçåë= sçäìãÉ=ff= = Cost and Price Collaboration Venkat Rao, Professor, Defense Acquisition...University David Holm, Director, Cost and Systems Analysis, TACOM LCMC Patrick Watkins, Chief, Stryker/Armaments Pricing Group, Army Contracting

  18. Essays on Derivatives Pricing

    DEFF Research Database (Denmark)

    Kokholm, Thomas

    The field of quantitative finance has been criticized in the mainstream media lately and been accused of being one of the causes of the financial crisis. Convenient as this explanation may be, my belief is that a part of the solution to the crisis is to use more (and not less) sophisticated...... financial models, and most importantly, to be aware of their limitations. Following that belief, this thesis consists of three independent and self-contained papers, all dealing with topics in derivatives pricing. The first paper considers the pricing of traffic light options, which are appropriate...... the market for multivariate credit instruments, we take a step back and focus on single-name default modeling and introduce two new model classes for modeling of the default time of a company. Finally, in the third paper we propose a consistent pricing model for index and volatility derivatives...

  19. Net global warming potential and greenhouse gas intensity

    Science.gov (United States)

    Various methods exist to calculate global warming potential (GWP) and greenhouse gas intensity (GHG) as measures of net greenhouse gas (GHG) emissions from agroecosystems. Little is, however, known about net GWP and GHGI that account for all sources and sinks of GHG emissions. Sources of GHG include...

  20. Petri Nets-Applications

    Indian Academy of Sciences (India)

    Home; Journals; Resonance – Journal of Science Education; Volume 4; Issue 9. Petri Nets - Applications. Y Narahari. General Article Volume 4 Issue 9 September 1999 pp 44-52. Fulltext. Click here to view fulltext PDF. Permanent link: http://www.ias.ac.in/article/fulltext/reso/004/09/0044-0052. Author Affiliations. Y Narahari ...

  1. Safety nets or straitjackets?

    DEFF Research Database (Denmark)

    Ilsøe, Anna

    2012-01-01

    Does regulation of working hours at national and sector level impose straitjackets, or offer safety nets to employees seeking working time flexibility? This article compares legislation and collective agreements in the metal industries of Denmark, Germany and the USA. The industry has historically...

  2. Coloured Petri Nets

    CERN Document Server

    Jensen, Kurt

    2009-01-01

    Coloured Petri Nets (CPN) is a graphical language for modelling and validating concurrent and distributed systems, and other systems in which concurrency plays a major role. This book introduces the constructs of the CPN modelling language and presents the related analysis methods. It provides a comprehensive road map for the practical use of CPN.

  3. Boom Booom Net Radio

    DEFF Research Database (Denmark)

    Grimshaw, Mark Nicholas; Yong, Louisa; Dobie, Ian

    1999-01-01

    of an existing Internet radio station; Boom Booom Net Radio. Whilst necessity dictates some use of technology-related terminology, wherever possible we have endeavoured to keep such jargon to a minimum and to either explain it in the text or to provide further explanation in the appended glossary....

  4. Game Theory .net.

    Science.gov (United States)

    Shor, Mikhael

    2003-01-01

    States making game theory relevant and accessible to students is challenging. Describes the primary goal of GameTheory.net is to provide interactive teaching tools. Indicates the site strives to unite educators from economics, political and computer science, and ecology by providing a repository of lecture notes and tests for courses using…

  5. Coloured Petri Nets

    DEFF Research Database (Denmark)

    Jensen, Kurt; Kristensen, Lars Michael

    Coloured Petri Nets (CPN) is a graphical language for modelling and validating concurrent and distributed systems, and other systems in which concurrency plays a major role. The development of such systems is particularly challenging because of inherent intricacies like possible nondeterminism...

  6. Pricing Volatility Referenced Assets

    Directory of Open Access Journals (Sweden)

    Alan De Genaro Dario

    2006-12-01

    Full Text Available Volatility swaps are contingent claims on future realized volatility. Variance swaps are similar instruments on future realized variance, the square of future realized volatility. Unlike a plain vanilla option, whose volatility exposure is contaminated by its asset price dependence, volatility and variance swaps provide a pure exposure to volatility alone. This article discusses the risk-neutral valuation of volatility and variance swaps based on the framework outlined in the Heston (1993 stochastic volatility model. Additionally, the Heston (1993 model is calibrated for foreign currency options traded at BMF and its parameters are used to price swaps on volatility and variance of the BRL / USD exchange rate.

  7. Wireless network pricing

    CERN Document Server

    Huang, Jianwei

    2013-01-01

    Today's wireless communications and networking practices are tightly coupled with economic considerations, to the extent that it is almost impossible to make a sound technology choice without understanding the corresponding economic implications. This book aims at providing a foundational introduction on how microeconomics, and pricing theory in particular, can help us to understand and build better wireless networks. The book can be used as lecture notes for a course in the field of network economics, or a reference book for wireless engineers and applied economists to understand how pricing

  8. Transfer Pricing Principles

    DEFF Research Database (Denmark)

    Jensen, Dennis Ramsdahl

    Konferencebidraget indeholder en kritisk analyse af transfer pricing reglerne på henholdsvis moms og indkomstskatterettens område med henblik på en diskussion af, det er hensigtsmæssigt med en harmonisering af reglerne på tværs af de to retsområder......Konferencebidraget indeholder en kritisk analyse af transfer pricing reglerne på henholdsvis moms og indkomstskatterettens område med henblik på en diskussion af, det er hensigtsmæssigt med en harmonisering af reglerne på tværs af de to retsområder...

  9. IS THE PRICE RIGHT? PRICING FOR LONG TERM PROFITABILITY

    Directory of Open Access Journals (Sweden)

    Andrea Erika NYÁRÁDI

    2007-01-01

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

  10. A Price Index Model for Road Freight Transportation and Its Empirical analysis in China

    OpenAIRE

    Liu Zhishuo; Zhao Kuan; Ma Jingmiao; Wang Chunfang

    2017-01-01

    The aim of price index for road freight transportation (RFT) is to reflect the changes of price in the road transport market. Firstly, a price index model for RFT based on the sample data from Alibaba logistics platform is built. This model is a three levels index system including total index, classification index and individual index and the Laspeyres method is applied to calculate these indices. Finally, an empirical analysis of the price index for RFT market in Zhejiang Province is perform...

  11. Nonlinear pricing of information goods

    OpenAIRE

    Arun Sundararajan

    2003-01-01

    This paper analyzes optimal pricing for information goods under incomplete information, when both unlimited-usage (fixed-fee) pricing and usage-based pricing are feasible, and administering usage-based pricing may involve transaction costs. It is shown that offering fixed- fee pricing in addition to a non-linear usage-based pricing scheme is always profit-improving in the presence of any non-zero transaction costs, and there may be markets in which a pure fixed-fee is optimal. This implies th...

  12. Financial and monetary policy responses to oil price shocks: evidence from oil-importing and oil-exporting countries

    OpenAIRE

    Filis, George; Chatziantoniou, I.

    2014-01-01

    In this study, we investigate the financial and monetary policy responses to oil price shocks using a Structural VAR framework. We distinguish between net oil-importing and net oil-exporting countries. Since the 80s, a significant number of empirical studies have been published investigating the effect of oil prices on macroeconomic and financial variables. Most of these studies though, do not make a distinction between oil-importing and oil-exporting economies. Overall, our results indicate ...

  13. Population growth and the benefits from optimally priced externalities.

    Science.gov (United States)

    Clarke, H R; Ng Y-k

    1995-06-01

    "In this article we show that, considering only economic effects, even if population growth, by natural increase or immigration, increases congestion, pollution, and other forms of external costs, that provided pre-existing citizens own the resources giving rise to the externalities, and provided they efficiently price usage of such, that existing citizens must, in net average terms, be better off with population growth than without it. In simple terms the increased revenues they gain from efficient pricing at increased demand levels will be strictly greater than the monetary value of the increased external costs together with the higher tax costs they incur as consumers of the resources." excerpt

  14. Pricing Strategy versus Heterogeneous Shopping Behavior under Market Price Dispersion

    National Research Council Canada - National Science Library

    Álvarez, Francisco; Rey, José-Manuel; Sanchis, Raúl G

    2016-01-01

      We consider the ubiquitous problem of a seller competing in a market of a product with dispersed prices and having limited information about both his competitors' prices and the shopping behavior...

  15. Pharmaceutical Pricing: The Use of External Reference Pricing

    OpenAIRE

    Ruggeri, Kai; Nolte, Ellen

    2013-01-01

    This article reviews approaches to pharmaceutical pricing in Canada, France, Germany, Italy, the Netherlands and Spain to inform better understanding of the role of external reference pricing and its relevance to the UK.

  16. ANTESEDEN DAN KONSEKUENSI DARI PRICE SATISFACTION

    OpenAIRE

    Steven Dharma; Asep Hermawan

    2012-01-01

    The purpose of this paper is to explore the antecedents and consequents of price satisfaction. It argues that price satisfaction is composed of several dimensions (price transparency, pricequality ratio, relative price, price confidence, price reliability, and price fairness) and that companies should consider these dimensions when monitoring customer price satisfaction. Based on a theoretical discussion of the price dimensions, a questionnaire is developed that measures customer satisfact...

  17. Road pricing policy implementation

    NARCIS (Netherlands)

    Vonk Noordegraaf, D.M.

    2016-01-01

    Urban areas suffer from the negative externalities of road transport like congested road networks, air pollution and road traffic accidents. A measure to reduce these negative externalities is road pricing, meaning policies that impose direct charges on road use (Jones and Hervik, 1992). Since the

  18. 2050: A Pricing Odyssey

    Energy Technology Data Exchange (ETDEWEB)

    Faruqui, Ahmad

    2006-10-15

    The author uses the Rip Van Winkle approach favored by marketers to gaze, clear-eyed, into the future - say, the year 2050 - to visualize alternative demand-response possibilities. Dare we go California Dreamin' of a distant utopia - or is it inevitable that pricing myopia will keep us from attaining the fulfillment of many of our career goals? (author)

  19. On Storekeepers' Pricing Behavior.

    NARCIS (Netherlands)

    B. Bode (Ben); J. Koerts (Johan); A.R. Thurik (Roy)

    1986-01-01

    textabstractThis research note deals with a quantitative analysis of differences in percentage gross margin between individual stores in the retail trade. A number of hypotheses on pricing behavior of storekeepers are tested using Dutch survey data from nine different types of retail stores. We

  20. Price of Prejudice

    DEFF Research Database (Denmark)

    Hedegaard, Morten; Tyran, Jean-Robert Karl

    2017-01-01

    We present a new type of field experiment to investigate ethnic prejudice in the workplace. Our design allows us to study how potential discriminators respond to changes in the cost of discrimination. We find that ethnic discrimination is common but highly responsive to the “price of prejudice”, i...

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

    Energy Technology Data Exchange (ETDEWEB)

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

    2006-04-01

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

  2. Road pricing and road safety : possible effects on road safety of 23 variants of road pricing.

    NARCIS (Netherlands)

    Eenink, R.G. Dijkstra, A. Wijnen, W. & Janssen, S.T.M.C.

    2007-01-01

    The Nouwen Committee (National Platform Paying Differently for Mobility) advised the Cabinet in 2005 about the introduction of a system of road pricing. Part of this advice consisted of a calculation of the expected road safety effects of such a system. In a letter to the Minister of Transport, SWOV

  3. Price transparency: building community trust.

    Science.gov (United States)

    Clarke, Richard L

    2007-01-01

    With the push from policymakers, payers, and consumers for hospitals to make their prices public, healthcare executives need to recognize two central issues related to price transparency: 1) meaningful price transparency involves helping patients and consumers understand their financial obligation for an episode of care, and 2) price transparency is key to the most critical success strategy for healthcare providers: building trust. This article reviews the history of pricing and billing practices and explores why price transparency is not easily achieved in today's environment. Pricing is a mystery even to those of us who work in the field, yet despite its complexity, the call for price transparency is not going to go away. For transparency, the goal should be to establish a rational pricing system that is easily explainable and justified to all stakeholders. Healthcare executives must make pricing a priority, understand cost, develop a pricing philosophy, understand the overall revenue requirements, examine market conditions and prices, and set up systems for review. A rational process of price setting should enhance community trust. In this matter there is nothing less at stake than the hearts of our community members.

  4. An Investigation into the Fundamental Drivers of Pricing of Residential Mortgage Products – A Risk Pricing Viewpoint

    Directory of Open Access Journals (Sweden)

    Harry M Karamujic

    2010-12-01

    Full Text Available Residential mortgage products (also known as home loans pricing has been long understood to be something of a ‘dark art’, requiring judgment and experience, rather than being an exact science. In the last decade, a lot has changed in this field and more and more lenders, primarily the larger lenders, are increasingly looking to make their pricing as exact as possible. Even so, inadequate pricing of residential mortgage products (in particular its substandard risk pricing has been seen as one of major causes of the global financial crisis (GFC and subsequent spectacular banking collapses. The underlying theme of the paper is to exhibit how contemporary lenders, in practice, price their residential mortgage products. While discussing elements of the pricing calculation particular attention was given to the exposition of how contemporary lenders price risks involved in providing home loans. Because of the importance of Basel capital accords to how financial institutions assess and quantify their risks, the paper provides an overview of Basel capital accords. The author envisages that the paper will (i help enhance comprehension of the underlying elements of the pricing calculation and the ways in which these elements relate to each other, (ii scrutinize how contemporary lenders identify and quantify risks and (iii improve consciousness of future changes in interest rates

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

    Science.gov (United States)

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

    2018-01-01

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

  6. Exchange rates, petroleum prices and price determination in Sierra ...

    African Journals Online (AJOL)

    This study determined the effects of monetary environment, exchange rate movement and petroleum prices on domestic prices in Sierra Leone by estimating a hybrid model of inflation. The empirical results showed that petroleum product prices, exchange rate as well as monetary factors determined inflation in Sierra Leone ...

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

    Science.gov (United States)

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

    2014-12-01

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

  8. Price Regulations in a Multi-unit Uniform Price Auction

    DEFF Research Database (Denmark)

    Boom, Anette

    Inspired by recent regulations in the New York ICAP market we examine the effect of different price regulations on a multi-unit uniform price auction. We investigate a bid cap and a bid foor. Given suffciently high total capacities general bid caps always ensure that the market price does...

  9. New Local, National and Regional Cereal Price Indices for Improved Identification of Food Insecurity

    Science.gov (United States)

    Brown, Molly E.; Tondel, Fabien; Thorne, Jennifer A.; Essam, Timothy; Mann, Bristol F.; Stabler, Blake; Eilerts, Gary

    2011-01-01

    Large price increases over a short time period can be indicative of a deteriorating food security situation. Food price indices developed by the United Nations Food and Agriculture Organization (FAO) are used to monitor food price trends at a global level, but largely reflect supply and demand conditions in export markets. However, reporting by the United States Agency for International Development (USAID)'s Famine Early Warning Systems Network (FEWS NET) indicates that staple cereal prices in many markets of the developing world, especially in surplus-producing areas, often have a delayed and variable response to international export market price trends. Here we present new price indices compiled for improved food security monitoring and assessment, and specifically for monitoring conditions of food access across diverse food insecure regions. We found that cereal price indices constructed using market prices within a food insecure region showed significant differences from the international cereals price, and had a variable price dispersion across markets within each marketshed. Using satellite-derived remote sensing information that estimates local production and the FAO Cereals Index as predictors, we were able to forecast movements of the local or national price indices in the remote, arid and semi-arid countries of the 38 countries examined. This work supports the need for improved decision-making about targeted aid and humanitarian relief, by providing earlier early warning of food security crises.

  10. Food Safety Nets:

    OpenAIRE

    Haggblade, Steven; Diallo, Boubacar; Staatz, John; Theriault, Veronique; Traoré, Abdramane

    2013-01-01

    Food and social safety nets have a history as long as human civilization. In hunter gatherer societies, food sharing is pervasive. Group members who prove unlucky in the short run, hunting or foraging, receive food from other households in anticipation of reciprocal consideration at a later time (Smith 1988). With the emergence of the first large sedentary civilizations in the Middle East, administrative systems developed specifically around food storage and distribution. The ancient Egyptian...

  11. Net technical assessment

    OpenAIRE

    Wegmann, David G.

    1989-01-01

    Approved for public release; distribution is unlimited. The present and near term military balance of power between the U.S. and the Soviet Union can be expressed in a variety of net assessments. One can examine the strategic nuclear balance, the conventional balance in Europe, the maritime balance, and many others. Such assessments are essential not only for policy making but for arms control purposes and future force structure planning. However, to project the future military balance, on...

  12. Understanding tobacco industry pricing strategy and whether it undermines tobacco tax policy: the example of the UK cigarette market.

    Science.gov (United States)

    Gilmore, Anna B; Tavakoly, Behrooz; Taylor, Gordon; Reed, Howard

    2013-07-01

    Tobacco tax increases are the most effective means of reducing tobacco use and inequalities in smoking, but effectiveness depends on transnational tobacco company (TTC) pricing strategies, specifically whether TTCs overshift tax increases (increase prices on top of the tax increase) or undershift the taxes (absorb the tax increases so they are not passed onto consumers), about which little is known. Review of literature on brand segmentation. Analysis of 1999-2009 data to explore the extent to which tax increases are shifted to consumers, if this differs by brand segment and whether cigarette price indices accurately reflect cigarette prices. UK. UK smokers. Real cigarette prices, volumes and net-of-tax- revenue by price segment. TTCs categorise brands into four price segments: premium, economy, mid and 'ultra-low price' (ULP). TTCs have sold ULP brands since 2006; since then, their real price has remained virtually static and market share doubled. The price gap between premium and ULP brands is increasing because the industry differentially shifts tax increases between brand segments; while, on average, taxes are overshifted, taxes on ULP brands are not always fully passed onto consumers (being absorbed at the point each year when tobacco taxes increase). Price indices reflect the price of premium brands only and fail to detect these problems. Industry-initiated cigarette price changes in the UK appear timed to accentuate the price gap between premium and ULP brands. Increasing the prices of more expensive cigarettes on top of tobacco tax increases should benefit public health, but the growing price gap enables smokers to downtrade to cheaper tobacco products and may explain smoking-related inequalities. Governments must monitor cigarette prices by price segment and consider industry pricing strategies in setting tobacco tax policies. © 2013 Society for the Study of Addiction.

  13. Strategic Delegation in Price Competition

    OpenAIRE

    Güth, Werner; Pull, Kerstin; Stadler, Manfred

    2012-01-01

    We study price competition in heterogeneous markets where price decisions are delegated to agents. Principals implement a revenue sharing scheme to which agents react by commonly charging a sales price. The results of our model exemplify the importance of both intrafirm- and interfirm interactions of principals and agents in competition. We show that price delegation can increase or decrease the firms' surplus depending on the heterogeneity of the market and the number of agents employed by t...

  14. Developing a consumer pricing strategy.

    Science.gov (United States)

    Sturm, Arthur; Tiedemann, Frank

    2013-05-01

    Healthcare providers can learn a variety of pricing lessons from the retail market: For providers, wholesale pricing--"the price to play"--alone is not enough. Once a hospital or health system chooses a market position, the provider creates an expectation that must be met-consistently. Consumer loyalty is fluid, and the price of care or service is not always the motivator for choosing one organization over another; intangibles such as location and level of customer service also drive purchasing decisions.

  15. Home Price Beliefs in Australia

    OpenAIRE

    Callan Windsor; Gianni La Cava; James Hansen

    2014-01-01

    We document some new stylised facts about how Australian homeowners value their homes using household panel data and unit-record data on home sale prices. We find that homeowners' price beliefs are unbiased at the postcode level, on average, although there is considerable dispersion in the difference between beliefs and prices across postcodes. Household characteristics, such as age and tenure, and the regional unemployment rate are correlated with differences between beliefs and prices. We a...

  16. Electric Cars and Oil Prices

    OpenAIRE

    Azar, Jose

    2009-01-01

    This paper studies the joint dynamics of oil prices and interest in electric cars, measured as the volume of Google searches for related phrases. Not surprisingly, I find that oil price shocks predict increases in Google searches for electric cars. Much more surprisingly, I also find that an increase in Google searches predicts declines in oil prices. The high level of public interest in electric cars between April and August of 2008 can explain approximately half of the decline in oil prices...

  17. Using WordNet for Building WordNets

    CERN Document Server

    Farreres, X; Farreres, Xavier; Rodriguez, Horacio; Rigau, German

    1998-01-01

    This paper summarises a set of methodologies and techniques for the fast construction of multilingual WordNets. The English WordNet is used in this approach as a backbone for Catalan and Spanish WordNets and as a lexical knowledge resource for several subtasks.

  18. Price Regulations in a Multi-unit Uniform Price Auction

    DEFF Research Database (Denmark)

    Boom, Anette

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

  19. Price Regulations in a Multi-unit Uniform Price Auction

    DEFF Research Database (Denmark)

    Boom, Anette

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

  20. RESTAURANT NO. 2: PRICE INCREASES

    CERN Multimedia

    2003-01-01

    'DSR', the concession holder of Restaurant no. 2 (bldg. 504 - Meyrin site), has submitted to the Restaurant Supervisory Committee a request to increase certain prices. After close examination, the Committee has established that the proposed increases are compatible with the relevant price indexing mechanisms and other contractual conditions. The new prices will apply as from Monday, June 30, 2003.

  1. RESTAURANT NO. 3: PRICE INCREASES

    CERN Multimedia

    2003-01-01

    'AVENANCE', the concession holder of Restaurant no. 3 (bldg. 866 - Prévessin site), has submitted to the Restaurant Supervisory Committee a request to increase its prices. After close examination, the Committee has established that the proposed increases are compatible with the relevant price indexing mechanisms and other contractual conditions. The new prices will apply as from Monday, June 2, 2003.

  2. Quantity precommitment and price matching

    DEFF Research Database (Denmark)

    Tumennasan, Norovsambuu

    We revisit the question of whether price matching is anti-competitive in a capacity constrained duopoly setting. We show that the effect of price matching depends on capacity. Specifically, price matching has no effect when capacity is relatively low, but it benefits the firms when capacity is re...

  3. Pricing Policies for Quantity Discounts

    OpenAIRE

    Maqbool Dada; K. N. Srikanth

    1987-01-01

    In this paper we analyze the seller's decision to offer quantity discounts to the buyer. We build on an existing model as follows. We first characterize the range of order sizes and prices which reduce costs for the buyer and seller, and develop related pricing schemes. The model is then extended to allow inventory carrying costs to be a function of price.

  4. TRANSFER PRICING - ECONOMIC OUTLOOK FOR BUSSINESSES IN MOLDAVIA

    Directory of Open Access Journals (Sweden)

    Cristina Ion DIACONU

    2016-12-01

    Full Text Available Transfer pricing is a complex , current and original topic for Moldovian enterprises. In terms of decentralization of responsibilities it is not so much a challenge as a necessity to determine a transfer price based on certain, rational, fair and effective fundamentals. From an economic perspective most empirical studies regarding the matters of transfer pricing, converge on delimitation of the methods for determining transfer prices fall into 3 groups: cost-based methods; methods based on market value and methods based on negotiation. But we can say with certainty that there is no perfect method of calculation that would meet all the criteria. Therefore, the main purpose of this article is to present methods for determining transfer prices from an economic point of view, highlighting the advantages and disadvantages of each of them.

  5. Patients' views on price shopping and price transparency.

    Science.gov (United States)

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

    2017-06-01

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

  6. Measurement and pricing of risk in insurance markets.

    Science.gov (United States)

    Tsanakas, Andreas; Desli, Evangelia

    2005-12-01

    The theory and practice of risk measurement provides a point of intersection between risk management, economic theories of choice under risk, financial economics, and actuarial pricing theory. This article provides a review of these interrelationships, from the perspective of an insurance company seeking to price the risks that it underwrites. We examine three distinct approaches to insurance risk pricing, all being contingent on the concept of risk measures. Risk measures can be interpreted as representations of risk orderings, as well as absolute (monetary) quantifiers of risk. The first approach can be called an "axiomatic" one, whereby the price for risks is calculated according to a functional determined by a set of desirable properties. The price of a risk is directly interpreted as a risk measure and may be induced by an economic theory of price under risk. The second approach consists in contextualizing the considerations of the risk bearer by embedding them in the market where risks are traded. Prices are calculated by equilibrium arguments, where each economic agent's optimization problem follows from the minimization of a risk measure. Finally, in the third approach, weaknesses of the equilibrium approach are addressed by invoking alternative valuation techniques, the leading paradigm among which is arbitrage pricing. Such models move the focus from individual decision takers to abstract market price systems and are thus more parsimonious in the amount of information that they require. In this context, risk measures, instead of characterizing individual agents, are used for determining the set of price systems that would be viable in a market.

  7. Proof nets for lingusitic analysis

    NARCIS (Netherlands)

    Moot, R.C.A.

    2002-01-01

    This book investigates the possible linguistic applications of proof nets, redundancy free representations of proofs, which were introduced by Girard for linear logic. We will adapt the notion of proof net to allow the formulation of a proof net calculus which is soundand complete for the

  8. Teaching Tennis for Net Success.

    Science.gov (United States)

    Young, Bryce

    1989-01-01

    A program for teaching tennis to beginners, NET (Net Easy Teaching) is described. The program addresses three common needs shared by tennis students: active involvement in hitting the ball, clearing the net, and positive reinforcement. A sample lesson plan is included. (IAH)

  9. Net4Care Ecosystem Website

    DEFF Research Database (Denmark)

    Christensen, Henrik Bærbak; Hansen, Klaus Marius; Rasmussen, Morten

    2012-01-01

    is a tele-monitoring scenario in which Net4Care clients are deployed in a gateway in private homes. Medical devices then connect to these gateways and transmit their observations to a Net4Care server. In turn the Net4Care server creates valid clinical HL7 documents, stores them in a national XDS repository...

  10. Asset Pricing without Garbage

    OpenAIRE

    Kroencke, Tim Alexander

    2014-01-01

    This paper provides an explanation why garbage as a measure of consumption implies a several times lower coefficient of relative risk aversion in the consumption-based asset pricing model than consumption based on the official National Income and Product Ac- counts (NIPA): Unlike garbage, NIPA consumption is filtered to mitigate measurement error. I apply a structural model of the filtering process, which allows to revoke the filter inherent in NIPA consumption. "Unfiltered NIP...

  11. Price Competition or Tacit Collusion

    OpenAIRE

    Yano, Makoto; Komatsubara, Takashi

    2012-01-01

    Every now and then, we observe a fierce price war in a real world market, through which competing firms end up with a Bertrand-like price competition equilibrium. Despite this, very little has been known in the existing literature as to why a price competition market is formed. We address this question in the context of a choice between engaging in price competition and holding a price leader. Focusing on a duopoly market, we demonstrate that if supply is tight relative to demand, and if the ...

  12. Reciprocity, World Prices and Welfare

    DEFF Research Database (Denmark)

    Raimondos-Møller, Pascalis; Woodland, Alan D.

    We examine in detail the circumstances under which reciprocity, as defined in Bagwell and Staiger (1999), leads to fixed world prices. We show that a change of tariffs satisfying reciprocity does not necessarily imply constant world prices in a world of many goods and countries. While...... it is possible to find tariff reforms that are consistent with both reciprocity and constant world prices, these reforms do not follow from the reciprocity condition, but rather from the requirement of unchanged world prices. We propose an alternative reciprocity rule that is guaranteed to raise the welfare...... of all countries, independently of whether world prices change and independently of the relative numbers of goods and countries....

  13. Albania Residential Prices

    Directory of Open Access Journals (Sweden)

    Luciana Koprencka

    2016-04-01

    Full Text Available The real estate market is complex and influenced by too many factors. Real Estate market in Albania has experienced a boom after the 1990. We have inherited from the communist system a very poor market of housing. The number of dwellings in 1990 in Albania was 219 dwellings per 1000 inhabitants and the useful floor space was 5 m² per person, but in Bulgaria number of dwellings per 1,000 people varies 465 and in Romania average useful floor space per person was 37 sq. The data used in this study are derived from the database of the World Bank, the Institute of Statistics, reports of Bank of Albania also from information provided individually on the ground and different sources. In this study is analyzed the relationship that exists between economic growth, remittances and the price of dwellings in Albania. The dependent variable is the average price of housing in major cities of Albania. Independent variables in the model are GDP per capita and the remittances. The Econometric model is a Linear Regress equation and the period are the years from 1998 to 2013. The model used is the statistical program EViews 6.0. Unfortunately the information let the desired, so we do not have an official detailed information on prices of Albanian real estate market. In Albania few researchers have been studying real estate market in Albania.

  14. Market price of risk

    Directory of Open Access Journals (Sweden)

    Kožul Nataša

    2017-01-01

    Full Text Available Most people find stochastic calculus intimidating and skip through complex equations. While there is no way of simplifying them, this work is an attempt to relate some of the widely used concepts in pricing financial derivatives to the practical market observations. Recent financial crisis has brought many adverse economic changes, but has also challenged the long-standing beliefs, such as that interest rates will always remain positive. Although the debate on its exact causes is unlikely to be settled, many blame complex derivatives and underlying models. Quantitative analysts that developed them, on the other hand, claim that the math was correct, but the complex products were mis-sold. Regardless of what side one wishes to take, the fact remains that the stochastic differential equations and integrals underlying most derivatives pricing models cannot be easily related to the actual market movements. Here, Markov and Wiener processes - the cornerstones of financial calculus - are explained in relation to return on investment, via market price of risk.

  15. Fuzzy net present value for engineering analysis

    Directory of Open Access Journals (Sweden)

    Ali Nazeri

    2012-10-01

    Full Text Available Cash flow analysis is one of the most popular methods for investigating the outcome of an economical project. The costs and benefits of a construction project are often involved with uncertainty and it is not possible to find a precise value for a particular project. In this paper, we present a simple method to calculate the net present value of a cash flow when both costs and benefits are given as triangular numbers. The proposed model of this paper uses Delphi method to figure out the fair values of all costs and revenues and then using fizzy programming techniques, it calculates the fuzzy net present value. The implementation of the proposed model is demonstrated using a simple example.

  16. Industrial Pricing: Theory and Managerial Practice

    OpenAIRE

    Peter M. Noble; Thomas S. Gruca

    1999-01-01

    We organize the existing theoretical pricing research into a new two-level framework for industrial goods pricing. The first level consists of four pricing situations: New Product, Competitive, Product Line, and Cost-based. The second level consists of the pricing strategies appropriate for a given situation. For example, within the new product pricing situation, there are three alternative pricing strategies: Skim, Penetration, and Experience Curve pricing. There are a total of ten pricing s...

  17. Price determination for hydrogen produced from bio-ethanol in Argentina

    Energy Technology Data Exchange (ETDEWEB)

    Gregorini, V.A.; Pasquevich, D. [Instituto de Energia y Desarrollo Sustentable - CNEA, Av. Del Libertador 8250, Buenos Aires (Argentina); Laborde, M. [Facultad de Ingenieria - Universidad de Buenos Aires, Ciudad Universitaria, Buenos Aires (Argentina)

    2010-06-15

    A massive penetration for hydrogen as a fuel vector requires a price reduction against fossil fuels (up to lower or at less equal to current prices). That is why it is important to calculate the current prices, so that we can determinate the gap between them and work in reducing them. In order to follow properly prices evolution it is necessary been able to compare data generated by Universities, Laboratories and Industries. So that, DOE creates in 2003 a tool (H2A) to determine prices for hydrogen, with some assumptions and pre defined values, to facilitate transparency and consistency of data. In this work we will use the H2A tool to calculate de price of hydrogen produced in a bio-ethanol semi-industrial Plant in Argentina, and we will compare it with the prices of USA studies. (author)

  18. Methodological Aspects and Methods of Transfer Pricing in Ukrainian Banking Institutions

    Directory of Open Access Journals (Sweden)

    Taras Savchenko

    2006-03-01

    Full Text Available This article examines the methodological aspects and methods of transfer pricing in Ukrainian banking institutions. It explores the approaches used to define the functions of transfer pricing from the perspective of pricing theory and enterprise economics theory. It reviews the international and national experiences in the legal regulation of this type of pricing. It identifies the methodological preconditions for the use of transfer prices in banking institutions. The paper examines graphic models of transfer pricing. Based on calculations from the Hirschmann-Herfindale Index and the Lerner Index, it determines the level of competition on the banking market in Ukraine as of 1 January 2006. Conclusions are made concerning the practical utility of a theoretical model of transfer pricing, based on a study of the nature of an intermediate banking product and the degree of competitiveness of the banking market in Ukraine. The paper reviews the transfer pricing practices in Ukrainian banking institutions.

  19. Price competition and equilibrium analysis in multiple hybrid channel supply chain

    Science.gov (United States)

    Kuang, Guihua; Wang, Aihu; Sha, Jin

    2017-06-01

    The amazing boom of Internet and logistics industry prompts more and more enterprises to sell commodity through multiple channels. Such market conditions make the participants of multiple hybrid channel supply chain compete each other in traditional and direct channel at the same time. This paper builds a two-echelon supply chain model with a single manufacturer and a single retailer who both can choose different channel or channel combination for their own sales, then, discusses the price competition and calculates the equilibrium price under different sales channel selection combinations. Our analysis shows that no matter the manufacturer and retailer choose same or different channel price to compete, the equilibrium price does not necessarily exist the equilibrium price in the multiple hybrid channel supply chain and wholesale price change is not always able to coordinate supply chain completely. We also present the sufficient and necessary conditions for the existence of equilibrium price and coordination wholesale price.

  20. Price floors for emissions trading

    Energy Technology Data Exchange (ETDEWEB)

    Wood, Peter John, E-mail: Peter.J.Wood@anu.edu.a [Resource Management in Asia Pacific Program, Crawford School of Economics and Government, Australian National University, Canberra ACT 0200 (Australia); Jotzo, Frank, E-mail: frank.jotzo@anu.edu.a [Resource Management in Asia Pacific Program, Crawford School of Economics and Government, Australian National University, Canberra ACT 0200 (Australia)

    2011-03-15

    Price floors in greenhouse gas emissions trading schemes can guarantee minimum abatement efforts if prices are lower than expected, and they can help manage cost uncertainty, possibly as complements to price ceilings. Provisions for price floors are found in several recent legislative proposals for emissions trading. Implementation however has potential pitfalls. Possible mechanisms are government commitments to buy back permits, a reserve price at auction, or an extra fee or tax on acquittal of emissions permits. Our analysis of these alternatives shows that the fee approach has budgetary advantages and is more compatible with international permit trading than the alternatives. It can also be used to implement more general hybrid approaches to emissions pricing. - Research highlights: {yields} Price floors for emissions trading schemes guarantee a minimum carbon price. {yields} Price floors mean that emissions can be less than specified by the ETS cap. {yields} We examine how price floors can relate to different policy objectives. {yields} We compare different mechanisms for implementing a price floor. {yields} We find that a mechanism where there is an extra tax or fee has advantages.

  1. Application of Neural Network Technologies for Price Forecasting in the Liberalized Electricity Market

    Science.gov (United States)

    Gerikh, Valentin; Kolosok, Irina; Kurbatsky, Victor; Tomin, Nikita

    2009-01-01

    The paper presents the results of experimental studies concerning calculation of electricity prices in different price zones in Russia and Europe. The calculations are based on the intelligent software "ANAPRO" that implements the approaches based on the modern methods of data analysis and artificial intelligence technologies.

  2. Trading network predicts stock price.

    Science.gov (United States)

    Sun, Xiao-Qian; Shen, Hua-Wei; Cheng, Xue-Qi

    2014-01-16

    Stock price prediction is an important and challenging problem for studying financial markets. Existing studies are mainly based on the time series of stock price or the operation performance of listed company. In this paper, we propose to predict stock price based on investors' trading behavior. For each stock, we characterize the daily trading relationship among its investors using a trading network. We then classify the nodes of trading network into three roles according to their connectivity pattern. Strong Granger causality is found between stock price and trading relationship indices, i.e., the fraction of trading relationship among nodes with different roles. We further predict stock price by incorporating these trading relationship indices into a neural network based on time series of stock price. Experimental results on 51 stocks in two Chinese Stock Exchanges demonstrate the accuracy of stock price prediction is significantly improved by the inclusion of trading relationship indices.

  3. Master Robotic Net

    Directory of Open Access Journals (Sweden)

    Vladimir Lipunov

    2010-01-01

    Full Text Available The main goal of the MASTER-Net project is to produce a unique fast sky survey with all sky observed over a single night down to a limiting magnitude of 19-20. Such a survey will make it possible to address a number of fundamental problems: search for dark energy via the discovery and photometry of supernovae (including SNIa, search for exoplanets, microlensing effects, discovery of minor bodies in the Solar System, and space-junk monitoring. All MASTER telescopes can be guided by alerts, and we plan to observe prompt optical emission from gamma-ray bursts synchronously in several filters and in several polarization planes.

  4. Art/Net/Work

    DEFF Research Database (Denmark)

    Andersen, Christian Ulrik; Lindstrøm, Hanne

    2006-01-01

    The seminar Art|Net|Work deals with two important changes in our culture. On one side, the network has become essential in the latest technological development. The Internet has entered a new phase, Web 2.0, including the occurrence of as ‘Wiki’s’, ‘Peer-2-Peer’ distribution, user controlled...... the praxis of the artist. We see different kinds of interventions and activism (including ‘hacktivism’) using the network as a way of questioning the invisible rules that govern public and semi-public spaces. Who ‘owns’ them? What kind of social relationships do they generate? On what principle...

  5. Understanding tobacco industry pricing strategy and whether it undermines tobacco tax policy: the example of the UK cigarette market

    Science.gov (United States)

    Gilmore, Anna B; Tavakoly, Behrooz; Taylor, Gordon; Reed, Howard

    2013-01-01

    Aims Tobacco tax increases are the most effective means of reducing tobacco use and inequalities in smoking, but effectiveness depends on transnational tobacco company (TTC) pricing strategies, specifically whether TTCs overshift tax increases (increase prices on top of the tax increase) or undershift the taxes (absorb the tax increases so they are not passed onto consumers), about which little is known. Design Review of literature on brand segmentation. Analysis of 1999–2009 data to explore the extent to which tax increases are shifted to consumers, if this differs by brand segment and whether cigarette price indices accurately reflect cigarette prices. Setting UK. Participants UK smokers. Measurements Real cigarette prices, volumes and net-of-tax- revenue by price segment. Findings TTCs categorise brands into four price segments: premium, economy, mid and ‘ultra-low price’ (ULP). TTCs have sold ULP brands since 2006; since then, their real price has remained virtually static and market share doubled. The price gap between premium and ULP brands is increasing because the industry differentially shifts tax increases between brand segments; while, on average, taxes are overshifted, taxes on ULP brands are not always fully passed onto consumers (being absorbed at the point each year when tobacco taxes increase). Price indices reflect the price of premium brands only and fail to detect these problems. Conclusions Industry-initiated cigarette price changes in the UK appear timed to accentuate the price gap between premium and ULP brands. Increasing the prices of more expensive cigarettes on top of tobacco tax increases should benefit public health, but the growing price gap enables smokers to downtrade to cheaper tobacco products and may explain smoking-related inequalities. Governments must monitor cigarette prices by price segment and consider industry pricing strategies in setting tobacco tax policies. PMID:23445255

  6. Modelling and forecasting electricity price variability

    Energy Technology Data Exchange (ETDEWEB)

    Haugom, Erik

    2012-07-01

    The liberalization of electricity sectors around the world has induced a need for financial electricity markets. This thesis is mainly focused on calculating, modelling, and predicting volatility for financial electricity prices. The four first essays examine the liberalized Nordic electricity market. The purposes in these papers are to describe some stylized properties of high-frequency financial electricity data and to apply models that can explain and predict variation in volatility. The fifth essay examines how information from high-frequency electricity forward contracts can be used in order to improve electricity spot-price volatility predictions. This essay uses data from the Pennsylvania-New Jersey-Maryland wholesale electricity market in the U.S.A. Essay 1 describes some stylized properties of financial high-frequency electricity prices, their returns and volatilities at the Nordic electricity exchange, Nord Pool. The analyses focus on distribution properties, serial correlation, volatility clustering, the influence of extreme events and seasonality in the various measures. The objective of Essay 2 is to calculate, model, and predict realized volatility of financial electricity prices for quarterly and yearly contracts. The total variation is also separated into continuous and jump variation. Various market measures are also included in the models in order potentially to improve volatility predictions. Essay 3 compares day-ahead predictions of Nord Pool financial electricity price volatility obtained from a GARCH approach with those obtained using standard time-series techniques on realized volatility. The performances of a total of eight models (two representing the GARCH family and six representing standard autoregressive models) are compared and evaluated. Essay 4 examines whether predictions of day-ahead and week-ahead volatility can be improved by additionally including volatility and covariance effects from related financial electricity contracts

  7. Energy intensity ratios as net energy measures of United States energy production and expenditures

    Science.gov (United States)

    King, C. W.

    2010-10-01

    In this letter I compare two measures of energy quality, energy return on energy invested (EROI) and energy intensity ratio (EIR) for the fossil fuel consumption and production of the United States. All other characteristics being equal, a fuel or energy system with a higher EROI or EIR is of better quality because more energy is provided to society. I define and calculate the EIR for oil, natural gas, coal, and electricity as measures of the energy intensity (units of energy divided by money) of the energy resource relative to the energy intensity of the overall economy. EIR measures based upon various unit prices for energy (e.g. /Btu of a barrel of oil) as well as total expenditures on energy supplies (e.g. total dollars spent on petroleum) indicate net energy at different points in the supply chain of the overall energy system. The results indicate that EIR is an easily calculated and effective proxy for EROI for US oil, gas, coal, and electricity. The EIR correlates well with previous EROI calculations, but adds additional information on energy resource quality within the supply chain. Furthermore, the EIR and EROI of oil and gas as well as coal were all in decline for two time periods within the last 40 years, and both time periods preceded economic recessions.

  8. Food Prices Transmission In Rwanda: Econometric Analysis ...

    African Journals Online (AJOL)

    This paper analyses the food prices transmission using econometric techniques where vector autoregressive models were formulated. Price transmission means the change of one price caused by the change of another price. Spatial price transmission is used in this study and price transmission is affected by different ...

  9. RETAIL-FARM PRICE MARGINS AND CONSUMER PRODUCT DIVERSITY

    OpenAIRE

    Reed, Albert J.; Elitzak, Howard; Wohlgenant, Michael K.

    2002-01-01

    This bulletin provides an alternative approach for computing retail-farm price margins. Current published estimates of retail-farm price margins are calculated assuming that food markets are comprised of identical firms producing, in fixed-factor proportions, a homogeneous set of final food products. The approach presented here relaxes these assumptions by relying on an expenditure-based measure, justified by the Generalized Composite Commodity Theorem, that reflects consumer demand for the m...

  10. Helminth.net: expansions to Nematode.net and an introduction to Trematode.net

    Science.gov (United States)

    Martin, John; Rosa, Bruce A.; Ozersky, Philip; Hallsworth-Pepin, Kymberlie; Zhang, Xu; Bhonagiri-Palsikar, Veena; Tyagi, Rahul; Wang, Qi; Choi, Young-Jun; Gao, Xin; McNulty, Samantha N.; Brindley, Paul J.; Mitreva, Makedonka

    2015-01-01

    Helminth.net (http://www.helminth.net) is the new moniker for a collection of databases: Nematode.net and Trematode.net. Within this collection we provide services and resources for parasitic roundworms (nematodes) and flatworms (trematodes), collectively known as helminths. For over a decade we have provided resources for studying nematodes via our veteran site Nematode.net (http://nematode.net). In this article, (i) we provide an update on the expansions of Nematode.net that hosts omics data from 84 species and provides advanced search tools to the broad scientific community so that data can be mined in a useful and user-friendly manner and (ii) we introduce Trematode.net, a site dedicated to the dissemination of data from flukes, flatworm parasites of the class Trematoda, phylum Platyhelminthes. Trematode.net is an independent component of Helminth.net and currently hosts data from 16 species, with information ranging from genomic, functional genomic data, enzymatic pathway utilization to microbiome changes associated with helminth infections. The databases’ interface, with a sophisticated query engine as a backbone, is intended to allow users to search for multi-factorial combinations of species’ omics properties. This report describes updates to Nematode.net since its last description in NAR, 2012, and also introduces and presents its new sibling site, Trematode.net. PMID:25392426

  11. NETS FOR PEACH PROTECTED CULTIVATION

    Directory of Open Access Journals (Sweden)

    Evelia Schettini

    2012-06-01

    Full Text Available The aim of this paper was to investigate the radiometric properties of coloured nets used to protect a peach cultivation. The modifications of the solar spectral distribution, mainly in the R and FR wavelength band, influence plant photomorphogenesis by means of the phytochrome and cryptochrome. The phytochrome response is characterized in terms of radiation rate in the red wavelengths (R, 600-700 nm to that in the farred radiation (FR, 700-800 nm, i.e. the R/FR ratio. The effects of the blue radiation (B, 400-500 nm is investigated by the ratio between the blue radiation and the far-red radiation, i.e. the B/FR ratio. A BLUE net, a RED net, a YELLOW net, a PEARL net, a GREY net and a NEUTRAL net were tested in Bari (Italy, latitude 41° 05’ N. Peach trees were located in pots inside the greenhouses and in open field. The growth of the trees cultivated in open field was lower in comparison to the growth of the trees grown under the nets. The RED, PEARL, YELLOW and GREY nets increased the growth of the trees more than the other nets. The nets positively influenced the fruit characteristics, such as fruit weight and flesh firmness.

  12. Price Linkage between International Price of Crude Palm Oil (CPO) and Cooking Oil Price in Indonesia

    OpenAIRE

    Rifin, Amzul

    2009-01-01

    Cooking oil in Indonesia is considered to be one of the staple food of Indonesian people. In the beginning of 2008, the price of cooking oil in Indonesia has increased significantly. One of the reasons is the increase of Crude Palm Oil (CPO) price in the international market. The objective of this research is to investigate the impacts of international price of CPO on the domestic price of CPO and cooking oil. Three specific objectives are included (1) To test whether international price of C...

  13. Declination Calculator

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Declination is calculated using the current International Geomagnetic Reference Field (IGRF) model. Declination is calculated using the current World Magnetic Model...

  14. Enhancing medicine price transparency through price information mechanisms.

    Science.gov (United States)

    Hinsch, Michael; Kaddar, Miloud; Schmitt, Sarah

    2014-05-08

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

  15. Controlling Price-Responsive Heat Pumps for Overload Elimination in Distribution Systems

    DEFF Research Database (Denmark)

    Csetvei, Zsuzsa; Østergaard, Jacob; Nyeng, Preben

    2011-01-01

    This paper investigates the possibility of applying electric heat pumps with the control-by-price-concept in order to avoid overload in a local distribution system. The proposed control algorithm is based upon a centrally dispatched real-time market price, reflecting the state of a larger power...... system, and is extended with a local price control for overload elimination on the corresponding feeder. The paper presents the mathematical models of a two-node system with price-responsive heat pumps, the chosen methodology of the central price calculation, and the proposed local feedback control...

  16. Household electricity consumers’ incentive to choose dynamic pricing under different taxation schemes

    DEFF Research Database (Denmark)

    Katz, Jonas; Kitzing, Lena; Schröder, Sascha Thorsten

    2018-01-01

    vehicles has now reinforced interest in flexible demand and dynamic pricing. With a roll-out of smart metering one important technical hurdle is going to be cleared, and dynamic retail pricing may soon become an eligible option for many households. We quantify the potential incentives to adopt new pricing...... observations in the Danish market. We calculate potential savings from dynamic pricing and show how the choice of electricity taxation technique may hamper or enhance potential benefits. In the light of switching costs, our results suggest that the combination of smart meter roll-out and dynamic pricing...

  17. Price setting in turbulent times

    DEFF Research Database (Denmark)

    Ólafsson, Tjörvi; Pétursdóttir, Ásgerdur; Vignisdóttir, Karen Á.

    This price setting survey among Icelandic firms aims to make two contributions to the literature. First, it studies price setting in an advanced economy within a more turbulent macroeconomic environment than has previously been done. The results indicate that price adjustments are to a larger ext...... to spread to sectors less exposed to such changes through the use of price indexation. Exchange rate pass-through, price indexation and backward-looking behaviour in price setting therefore pose challenges for monetary policy in Iceland....... extent driven by exchange rate fluctuations than in most other advanced countries. The median Icelandic firm reviews its prices every four months and changes them every six months. The main sources of price rigidity and the most commonly used price setting methods are the same as in most other countries....... A second contribution to the literature is our analysis of the nexus between price setting and exchange rate movements, a topic that has attracted surprisingly limited attention in this survey-based literature. A novel aspect of our approach is to base our analysis on a categorisation of firms...

  18. Retailer Pricing Strategy and Consumer Choice under Price Uncertainty

    OpenAIRE

    Shai Danziger; Liat Hadar; Morwitz, Vicki G

    2014-01-01

    This research examines how consumers choose retailers when they are uncertain about store prices prior to shopping. Simulating everyday choice, participants made successive retailer choices where on each occasion they chose a retailer and only then learned product prices. The results of a series of studies demonstrated that participants were more likely to choose a retailer that offered an everyday low pricing strategy (EDLP) or that offered frequent small discounts over a retailer that offer...

  19. The equivalency between logic Petri workflow nets and workflow nets.

    Science.gov (United States)

    Wang, Jing; Yu, ShuXia; Du, YuYue

    2015-01-01

    Logic Petri nets (LPNs) can describe and analyze batch processing functions and passing value indeterminacy in cooperative systems. Logic Petri workflow nets (LPWNs) are proposed based on LPNs in this paper. Process mining is regarded as an important bridge between modeling and analysis of data mining and business process. Workflow nets (WF-nets) are the extension to Petri nets (PNs), and have successfully been used to process mining. Some shortcomings cannot be avoided in process mining, such as duplicate tasks, invisible tasks, and the noise of logs. The online shop in electronic commerce in this paper is modeled to prove the equivalence between LPWNs and WF-nets, and advantages of LPWNs are presented.

  20. Priced Timed Automata

    DEFF Research Database (Denmark)

    Behrmann, Gerd; Larsen, Kim Guldstrand; Rasmussen, Jacob Illum

    2004-01-01

    This contribution reports on the considerable effort made recently towards extending and applying well-established timed automata technology to optimal scheduling and planning problems. The effort of the authors in this direction has to a large extent been carried out as part of the European...... projects VHS [22] and AMETIST [17] and are available in the recently released UPPAAL CORA [12], a variant of the real-time verification tool UPPAAL [20,5] specialized for cost-optimal reachability for the extended model of priced timed automata....

  1. Pricing Strategy versus Heterogeneous Shopping Behavior under Market Price Dispersion

    Directory of Open Access Journals (Sweden)

    Francisco Álvarez

    2016-01-01

    Full Text Available We consider the ubiquitous problem of a seller competing in a market of a product with dispersed prices and having limited information about both his competitors’ prices and the shopping behavior of his potential customers. Given the distribution of market prices, the distribution of consumers’ shopping behavior, and the seller’s cost as inputs, we find the computational solution for the pricing strategy that maximizes his expected profits. We analyze the seller’s solution with respect to different exogenous perturbations of parametric and functional inputs. For that purpose, we produce synthetic price data using the family of Generalized Error Distributions that includes normal and quasiuniform distributions as particular cases, and we also generate consumers’ shopping data from different behavioral assumptions. Our analysis shows that, beyond price mean and dispersion, the shape of the price distribution plays a significant role in the seller’s pricing solution. We focus on the seller’s response to an increasing diversity in consumers’ shopping behavior. We show that increasing heterogeneity in the shopping distribution typically lowers seller’s prices and expected profits.

  2. [Evolution of the relative prices of food groups between 1939 and 2010 in the city of Sao Paulo, Southeastern Brazil].

    Science.gov (United States)

    Yuba, Tania Yuka; Sarti, Flavia Mori; Campino, Antonio Carlos Coelho; Carmo, Heron Carlos Esvael do

    2013-06-01

    To analyze the evolution of relative prices of food groups and its influence on public healthy eating policies. Data from the municipality of Sao Paulo between 1939 and 2010 were analyzed based on calculating index numbers. Data from the Economic Researches Foundation Institute price database and weight structures (1939 to 1988) and from the Brazilian Institute of Geography and Statistics (1989 to 2010) were used to. The price database was organized, its consistency tested and prices were deflated using the consumer price index. Relative prices were calculated and associated to food categories and groups, according to the food pyramid guide adapted for the Brazilian population. The price indices for each group were calculated according to Laspeyres modified formula. The general food price index was compared with the indices for each food group and respective category: fresh food, processed food, beverages, meat, legumes, milk and eggs, cereals and root vegetables and eating out. Price indices for fat, oil, spices, sugars and sweets and processed food showed relative price reduction. Fresh food, such as fruit and vegetables, showed an increase in relative prices. Other food groups, such as cereals, flour and pasta, meat, milk and egg, showed a steadier long term trend in relative prices. The evolution of relative prices of food in the city of Sao Paulo demonstrates a negative trend towards healthy eating at household level in the long run.

  3. Coloured Petri Nets

    DEFF Research Database (Denmark)

    Jensen, Kurt; Kristensen, Lars Michael

    studies that illustrate the practical use of CPN modelling and validation for design, specification, simulation, verification and implementation in various application domains. Their presentation primarily aims at readers interested in the practical use of CPN. Thus all concepts and constructs are first......Coloured Petri Nets (CPN) is a graphical language for modelling and validating concurrent and distributed systems, and other systems in which concurrency plays a major role. The development of such systems is particularly challenging because of inherent intricacies like possible nondeterminism...... and the immense number of possible execution sequences. In this textbook, Jensen and Kristensen introduce the constructs of the CPN modelling language and present the related analysis methods in detail. They also provide a comprehensive road map for the practical use of CPN by showcasing selected industrial case...

  4. Energy Dependence of Moments of Net-Proton, Net-Kaon, and Net-Charge Multiplicity Distributions at STAR

    CERN Document Server

    ,

    2016-01-01

    One of the main goals of the RHIC Beam Energy Scan (BES) program is to study the QCD phase structure, which includes the search for the QCD critical point, over a wide range of chemical potential. Theoretical calculations predict that fluctuations of conserved quantities, such as baryon number (B), charge (Q), and strangeness (S), are sensitive to the correlation length of the dynamical system. Experimentally, higher moments of multiplicity distributions have been utilized to search for the QCD critical point in heavy-ion collisions. In this paper, we report recent efficiency-corrected cumulants and cumulants ratios of the net- proton, net-kaon, and net-charge multiplicity distributions in Au+Au collisions at 7.7, 11.5, 14.5, 19.6, 27, 39, 62.4, and 200 GeV collected in the years 2010, 2011, and 2014 with STAR at RHIC. The centrality and energy dependence of the cumulants up to the fourth order, as well as their ratios, are presented. Furthermore, the comparisons with baseline calculations (Poisson) and non-c...

  5. Differences in external price referencing in Europe: a descriptive overview.

    Science.gov (United States)

    Leopold, Christine; Vogler, Sabine; Mantel-Teeuwisse, A K; de Joncheere, Kees; Leufkens, H G M; Laing, Richard

    2012-01-01

    This study aimed to provide an up-to-date description as well as comparative analysis of the national characteristics of pharmaceutical external price referencing (EPR) in Europe. Review of the country-specific PPRI (Pharmaceutical Pricing and Reimbursement Information) Pharma Profiles written by representatives of the PPRI Network. The Profiles were analysed according to predefined criteria. Of 28 analysed European countries 24 applied EPR in 2010. The majority of countries have statutory rules to implement EPR. Most countries had less than 10 countries in their reference baskets. Higher income countries tend to include higher income countries in their basket, whereas lower income countries refer to lower income countries. Taking the average price of all countries in the basket as the basis to calculate the national price was the most common strategy (n=8). The methodology of EPR has changed in most European countries over the past 10 years (n=19). EPR is a widely used pricing policy in Europe and is still actively used as well as adjusted by national authorities. However, we still see room for improvement by implementing more detailed legislations in terms of the revision of prices and by identifying alternative countries in case a product is not on the market. We also see the need for formal information sharing (e.g. congresses dedicated to pricing strategies and systems) with other public pricing authorities to learn about the different EPR methodologies as well as the national experiences. These congresses might also give room to better understand national pricing methods including discussions on possible limitations of these pricing methods. Copyright © 2011 Elsevier Ireland Ltd. All rights reserved.

  6. A Multiperiod Equilibrium Pricing Model

    Directory of Open Access Journals (Sweden)

    Minsuk Kwak

    2014-01-01

    Full Text Available We propose an equilibrium pricing model in a dynamic multiperiod stochastic framework with uncertain income. There are one tradable risky asset (stock/commodity, one nontradable underlying (temperature, and also a contingent claim (weather derivative written on the tradable risky asset and the nontradable underlying in the market. The price of the contingent claim is priced in equilibrium by optimal strategies of representative agent and market clearing condition. The risk preferences are of exponential type with a stochastic coefficient of risk aversion. Both subgame perfect strategy and naive strategy are considered and the corresponding equilibrium prices are derived. From the numerical result we examine how the equilibrium prices vary in response to changes in model parameters and highlight the importance of our equilibrium pricing principle.

  7. Has competition lowered hospital prices?

    Science.gov (United States)

    Zwanziger, Jack; Mooney, Cathleen

    2005-01-01

    On Jan. 1, 1997, New York ended its regulation of hospital prices with the intent of using competitive markets to control prices and increase efficiency. This paper uses data that come from annual reports filed by all health maintenance organizations (HMOs) operating in New York and include payments to and usage in the major hospitals in an HMO's network. We estimate the relationship between implied prices and hospital, plan, and market characteristics. The models show that after 1997, hospitals in more competitive markets paid less. Partially offsetting these price reductions were price increases associated with hospital mergers that reduced the competitiveness of the local market. Hospital deregulation was successful, at least in the short run, in using price competition to reduce hospital payments; it is unclear whether this success will be undermined by the structural changes taking place in the hospital industry.

  8. Isotopic tracers for net primary productivity for a terrestrial esocystem ...

    African Journals Online (AJOL)

    The coupling effect of vapour release and CO2 uptake during photosynthesis plays an important role in the carbon and hydrologic cycles. The water use efficiency (WUE) for transpiration was used in calculating the net primary productivity (NPP) for terrestrial ecosystem. Three parameters were used in calculating the water ...

  9. Pricing hazardous substance emissions

    Energy Technology Data Exchange (ETDEWEB)

    Staring, Knut; Vennemo, Haakon

    1997-12-31

    This report discusses pricing of emissions to air of several harmful substances. It combines ranking indices for environmentally harmful substances with economic valuation data to yield price estimates. The ranking methods are discussed and a relative index established. Given the relative ranking of the substances, they all become valued by assigning a value to one of them, the `anchor` substance, for which lead is selected. Valuations are provided for 19 hazardous substances that are often subject to environmental regulations. They include dioxins, TBT, etc. The study concludes with a discussion of other categories of substances as well as uncertainties and possible refinements. When the valuations are related to CO, NOx, SOx and PM 10, the index system undervalues these pollutants as compared to other studies. The scope is limited to the outdoor environment and does not include global warming and eutrophication. The indices are based on toxicity and so do not apply to CO{sub 2} or other substances that are biologically harmless. The index values are not necessarily valid for all countries and should be considered as preliminary. 18 refs., 6 tabs.

  10. Determinants of Tanzanian Export Prices

    OpenAIRE

    Rollo Valentina.

    2012-01-01

    This paper uses firm level data to study the pricing behavior of Tanzanian exporters. The important question of how exporting firms make pricing decisions has not received significant attention in the trade literature which is more focused on factors that determine export flows. The results of the paper show that the free on board price of Tanzanian exports is differentiated both across exporters—within product destination pairs—and across markets—within firm product pairs. Moreover contrasti...

  11. Stock prices and business investment

    OpenAIRE

    Yaron Leitner

    2007-01-01

    Is there a link between the stock market and business investment? Empirical evidence indicates that there is. A firm tends to invest more when its stock price increases, and it tends to invest less when the price falls. In “Stock Prices and Business Investment,” Yaron Leitner discusses existing research that explains this relationship. One question under consideration is whether the stock market actually improves investment decisions.

  12. How hospitals approach price transparency.

    Science.gov (United States)

    Houk, Scott; Cleverley, James O

    2014-09-01

    A survey of finance leaders found that hospitals with lower charges were more likely than other hospitals to emphasize making prices defensible rather than simply transparent. Finance leaders of hospitals with higher charges were more likely to express concern that price transparency would cause a reduction in hospital revenue by forcing them to lower charges. Those respondents said commercial payers likely will have to agree to renegotiate contracts for price transparency to be a financially viable proposition.

  13. Countervailing Power and Price Transparency

    OpenAIRE

    Møllgaard, Peter; Hviid, Morten

    2000-01-01

    We investigate whether increased transparency about prices may increase the countervailing power exercised by buyers of an intermediate good and whether this will lead to a decrease of intermediate goods prices. We show that, even in a non-cooperative, one-shot model, the most likely outcome of improved transparency is a price increase: Improved transparency will lead sellers to take tougher bargaining stands since more is at stake. The results are related to the experience of the Danish Comp...

  14. Regional Hospital Input Price Indexes

    OpenAIRE

    Freeland, Mark S.; Schendler, Carol Ellen; Anderson, Gerard

    1981-01-01

    This paper describes the development of regional hospital input price indexes that is consistent with the general methodology used for the National Hospital Input Price Index. The feasibility of developing regional indexes was investigated because individuals inquired whether different regions experienced different rates of increase in hospital input prices. The regional indexes incorporate variations in cost-share weights (the amount an expense category contributes to total spending) associa...

  15. Nonlinear Pricing to Produce Information

    OpenAIRE

    David J. Braden; Oren, Shmuel S.

    1994-01-01

    We investigate the firm's dynamic nonlinear pricing problem when facing consumers whose tastes vary according to a scalar index. We relax the standard assumption that the firm knows the distribution of this index. In general the firm should determine its marginal price schedule as if it were myopic, and produce information by lowering the price schedule; “bunching” consumers at positive purchase levels should be avoided. As a special case we also consider a market characterized by homogeneous...

  16. International Prices and Exchange Rates

    OpenAIRE

    Gopinath, Gita; Burstein, Ariel

    2013-01-01

    We survey the recent empirical and theoretical developments in the literature on the relation between prices and exchange rates. After updating some of the major findings in the empirical literature we present a simple framework to interpret this evidence. We review theoretical models that generate insensitivity of prices to exchange rate changes through variable markups, both under flexible prices and nominal rigidities, first in partial equilibrium and then in general equilibrium.

  17. Essays in Empirical Asset Pricing

    DEFF Research Database (Denmark)

    Rzeznik, Aleksandra

    This thesis consists of three essays investigating financial and real estate markets and identifying a relationship between them. A 2008 financial crises provides a perfect example of sizeable interactions between US housing market and equity prices, where a negative shock to house prices triggered...... a word-wide recession. Therefore, understanding forces driving investors behaviour and preferences, which in turn affect asset prices in both equity and housing market are of great interest....

  18. Price transparency for medical devices.

    Science.gov (United States)

    Pauly, Mark V; Burns, Lawton R

    2008-01-01

    Hospital buyers of medical devices contract with manufacturers with market power that sell differentiated products. The medical staff strongly influences hospitals' choice of devices. Sellers have sought to limit disclosure of transaction prices. Policy-makers have proposed legislation mandating disclosure, in the interest of greater transparency. We discuss why a manufacturer might charge different prices to different hospitals, the role that secrecy plays, and the consequences of secrecy versus disclosure. We argue that hospital-physician relationships are key to understanding what manufacturers gain from price discrimination. Price disclosure can catalyze a restructuring of those relationships, which, in turn, can improve hospital bargaining.

  19. Transmission pricing: paradigms and methodologies

    Energy Technology Data Exchange (ETDEWEB)

    Shirmohammadi, Dariush [Pacific Gas and Electric Co., San Francisco, CA (United States); Vieira Filho, Xisto; Gorenstin, Boris [Centro de Pesquisas de Energia Eletrica (CEPEL), Rio de Janeiro, RJ (Brazil); Pereira, Mario V.P. [Power System Research, Rio de Janeiro, RJ (Brazil)

    1994-12-31

    In this paper we describe the principles of several paradigms and methodologies for pricing transmission services. The paper outlines some of the main characteristics of these paradigms and methodologies such as where they may be used for best results. Due to their popularity, power flow based MW-mile and short run marginal cost pricing methodologies will be covered in some detail. We conclude the paper with examples of the application of these two pricing methodologies for pricing transmission services in Brazil. (author) 25 refs., 2 tabs.

  20. Entropy, pricing and macroeconomics of pumped-storage systems

    Science.gov (United States)

    Karakatsanis, Georgios; Mamassis, Nikos; Koutsoyiannis, Demetris; Efstratiadis, Andreas

    2014-05-01

    We propose a pricing scheme for the enhancement of macroeconomic performance of pumped-storage systems, based on the statistical properties of both geophysical and economic variables. The main argument consists in the need of a context of economic values concerning the hub energy resource; defined as the resource that comprises the reference energy currency for all involved renewable energy sources (RES) and discounts all related uncertainty. In the case of pumped-storage systems the hub resource is the reservoir's water, as a benchmark for all connected intermittent RES. The uncertainty of all involved natural and economic processes is statistically quantifiable by entropy. It is the relation between the entropies of all involved RES that shapes the macroeconomic state of the integrated pumped-storage system. Consequently, there must be consideration on the entropy of wind, solar and precipitation patterns, as well as on the entropy of economic processes -such as demand preferences on either current energy use or storage for future availability. For pumped-storage macroeconomics, a price on the reservoir's capacity scarcity should also be imposed in order to shape a pricing field with upper and lower limits for the long-term stability of the pricing range and positive net energy benefits, which is the primary issue of the generalized deployment of pumped-storage technology. Keywords: Entropy, uncertainty, pricing, hub energy resource, RES, energy storage, capacity scarcity, macroeconomics

  1. Modeling of price and profit in coupled-ring networks

    Science.gov (United States)

    Tangmongkollert, Kittiwat; Suwanna, Sujin

    2016-06-01

    We study the behaviors of magnetization, price, and profit profiles in ring networks in the presence of the external magnetic field. The Ising model is used to determine the state of each node, which is mapped to the buy-or-sell state in a financial market, where +1 is identified as the buying state, and -1 as the selling state. Price and profit mechanisms are modeled based on the assumption that price should increase if demand is larger than supply, and it should decrease otherwise. We find that the magnetization can be induced between two rings via coupling links, where the induced magnetization strength depends on the number of the coupling links. Consequently, the price behaves linearly with time, where its rate of change depends on the magnetization. The profit grows like a quadratic polynomial with coefficients dependent on the magnetization. If two rings have opposite direction of net spins, the price flows in the direction of the majority spins, and the network with the minority spins gets a loss in profit.

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

    Science.gov (United States)

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

    2011-12-01

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

  3. Modeling the Effect of Oil Price on Global Fertilizer Prices

    NARCIS (Netherlands)

    P-Y. Chen (Ping-Yu); C-L. Chang (Chia-Lin); C-C. Chen (Chi-Chung); M.J. McAleer (Michael)

    2010-01-01

    textabstractThe main purpose of this paper is to evaluate the effect of crude oil price on global fertilizer prices in both the mean and volatility. The endogenous structural breakpoint unit root test, the autoregressive distributed lag (ARDL) model, and alternative volatility models, including the

  4. Oil Price Fluctuations and Output performance in Nigeria : a Var Approach

    Directory of Open Access Journals (Sweden)

    Ismail O. Fasanya

    2013-09-01

    Full Text Available This paper examines the impact of oil price movements on real output growth in Nigeria during the period 1970 to 2011 making use of annual time series data. The empirical analysis rests on dynamic VAR analytical framework. To capture the possible channels reflecting the fluctuations in the oil prices, the model includes money supply, real exchange rate, government spending and inflation. Our findings indicate the lagged effects of the VAR model are not able to capture any significant impact of changes in oil prices, and oil price shocks are therefore not found to contribute directly to output, exchange rate or inflation in the short run but show a positive significant relationship to output growth in the long run. Following the VAR model results, the generalized impulse responses reaffirm the direct link between the net oil price shock and growth, as well as the indirect linkages.

  5. Testing Benjamin Graham’s net current asset value model

    Directory of Open Access Journals (Sweden)

    Chongsoo An

    2015-02-01

    Full Text Available The objective of this paper is to empirically test one of Graham’s investment methods based on the net current asset value (NCAV. The NCAV is truly unique, and conservative, and commonly known as the net-net method.  The ratio of the net current asset value to market value (NCAV/MV was employed in this study to test a stock’s performance comparing to the performance of S&P 500 as the market index. We used all stocks in Portfolio123 whose raw data were supplied by Compustat, Standard & Poors, Capital IQ, and Reuters for the period of January 2, 1999 to August 31, 2012. The overall results show that the firms with high net current asset values outperform the market. These results are strong in the up market. It can be argued that the firms with a high NCAV/MV ratio are likely to move toward their fundamental value and generate high excess return because its stock prices are now undervalued. The implications of the study are: (a a positive NCAV/MV ratio may be a good indicator of the underpriced security; (b investing in the growth period and avoiding the downturn period leads investors to earn much higher returns from the firms with a high NCAV/MV ratio; and (c The NCAV/MV strategy requires a longer holding period of the portfolio in order to generate excess returns.

  6. Investigations on the porous resistance coefficients for fishing net structures

    DEFF Research Database (Denmark)

    Chen, Hao; Christensen, Erik Damgaard

    2016-01-01

    resistance coefficients were adjusted by fitting the available experimental data. In the present paper, a new approach was proposed to calculate the porous resistance coefficients based on the transformation of Morison type load model. The transformation follows the principle that the total forces acting...... validation cases were carried out to examine the performance of the numerical model. This includes steady current flow through plane net panels and circular fish cages, and wave interaction with plane net panels. A variety of fishing nets with different solidity ratios were used in the validation cases, from...

  7. Relationship between efficiency and predictability in stock price change

    Science.gov (United States)

    Eom, Cheoljun; Oh, Gabjin; Jung, Woo-Sung

    2008-09-01

    In this study, we evaluate the relationship between efficiency and predictability in the stock market. The efficiency, which is the issue addressed by the weak-form efficient market hypothesis, is calculated using the Hurst exponent and the approximate entropy (ApEn). The predictability corresponds to the hit-rate; this is the rate of consistency between the direction of the actual price change and that of the predicted price change, as calculated via the nearest neighbor prediction method. We determine that the Hurst exponent and the ApEn value are negatively correlated. However, predictability is positively correlated with the Hurst exponent.

  8. Deriving the bond pricing equation

    Directory of Open Access Journals (Sweden)

    Kožul Nataša

    2014-01-01

    Full Text Available Given the recent focus on Eurozone debt crisis and the credit rating downgrade not only of US debt, but that of other countries and many UK major banking institutions, this paper aims to explain the concept of bond yield, its different measures and bond pricing equation. Yields on capital market instruments are rarely quoted on the same basis, which makes direct comparison between different as investment choices impossible. Some debt instruments are quoted on discount basis, whilst coupon-bearing ones accrue interest differently, offer different compounding opportunities, have different coupon payment frequencies, and manage non-business day maturity dates differently. Moreover, rules governing debt vary across countries, markets and currencies, making yield calculation and comparison a rather complex issue. Thus, some fundamental concepts applicable to debt instrument yield measurement, with focus on bond equation, are presented here. In addition, bond equation expressed in annuity form and used to apply Newton-Raphson algorithm to derive true bond yield is also shown.

  9. Considerations regarding price in oligopolistic structured markets

    Directory of Open Access Journals (Sweden)

    Ciobanu, R.

    2011-01-01

    Full Text Available Economists report price rigidity in markets with oligopolistic structures, while explaining the phenomenon. If an oligopolistic firm raises prices, other prices will remain stable in oligopolistic firms, so we will see a significant decrease in sales volume in the firm which increased prices. To avoid this situation an oligopolistic company will not initiate price increases. If oligopolistic firms lower prices, other oligopolistic firms will reduce prices promptly and the result will be that of lower volume of sales - will sell the same physical volume of goods but at a lower price. To avoid this situation, the company will not initiate oligopolistic price decreases.

  10. Pricing unit-linked insurance with guaranteed benefit

    Science.gov (United States)

    Iqbal, M.; Novkaniza, F.; Novita, M.

    2017-07-01

    Unit-linked insurance is an investment-linked insurance, that is, the given benefit is the premium investment out-come. Recently, the most widely marketed insurance in the industry is unit-linked insurance with guaranteed benefit. With guaranteed benefit applied, the insurance benefits form is similar to the payoff form of European call option. Thereby, pricing European call option is involved in pricing unit-linked insurance with guaranteed benefit. The dynamics of investment outcome is assumed to follow stochastic interest rate. Hence, change of measure methods is used in pricing unit-linked insurance. The discount factor with stochastic interest rate needs to be modified as well to be zero coupon bond price. Eventually, the insurance premium is calculated by equivalence principle with guaranteed benefit and insurance period explicitly given.

  11. Prices and species diversity

    DEFF Research Database (Denmark)

    Sauer, Johannes

    . Based on a biologically defined species diver-sity index we incorporate biodiversity either as a desirable output or biodiversity loss as a detrimental input. Beside quantitative shadow price measures the main contribu-tion of the work is the evidence that parametric scores of environmental efficiency...... of biodiversity and the appropriate incorporation in stochastic fron-tier models to achieve more realistic measures of production efficiency. We use the empirical example of tobacco production drawing from as well as affecting species diversity in the surrounding forests. We apply a shadow profit distance...... function ap-proach as well as a fixed effects non-radial technique to reveal input specific alloca-tive and output oriented technical efficiency measures as well as measures of envi-ronmental efficiency. We also consider functional consistency by imposing convexity on the translog profit function model...

  12. Transfer Pricing and FDI

    Directory of Open Access Journals (Sweden)

    Patricia-Sabina Macelaru

    2013-08-01

    Full Text Available FDI analysis is usually performed within the frame of the win-win hypothesis. However, we believe that certain circumstances (MNEs following their own business objectives, lack of appropriate regulations, non-observance of the arm’s length principle may generate disproportionate advantages at the level of FDI stakeholders. The disequilibrium between reinvested profits and repatriated profits may be viewed as a proof of such disproportionate advantages of stakeholders involved in FDI. In addition to figures showing the comparison between reinvested and repatriated profits, as well as the way in which such indicators vary e.g. in case of abnormal business conditions (global economy collapse, we try to show that lack/misuse of transfer pricing regulations may generate even more disequilibrium, the MNEs using intra-group transactions as an additional way of repatriating non-taxable/low tax profits.

  13. Prices versus Quantities

    DEFF Research Database (Denmark)

    Hansen, Lars Gårn; Jensen, Frank

    Weitzman (2002) studies the regulation of a fishery characterised by constant marginal harvest costs and shows that price regulation performs better than quantity regulation when the regulator is uncertain about the biological reproduction function (ecological uncertainty). Here, we initially...... illustrate that this result does not generalise to a search fishery, where marginal costs are allowed to depend on harvest. Hansen et al (2008) study a fishery where non-compliance with regulations is a problem. When the regulator is uncertain about non-compliance (compliance uncertainty), then landing fees...... are the preferred type of regulation, and Hansen et al (2008) find that this result does generalise to a search fishery where marginal costs depend on harvest. In this paper, we simulate a stochastic stock-recruitment model for the Danish cod fishery in the Kategat capturing both ecological and compliance...

  14. Utilizing TOPSIS intensified with adjustment similarity factor to determine price of technology

    Directory of Open Access Journals (Sweden)

    Seyed Mohammad Seyedhosseini

    2012-08-01

    Full Text Available Technology transfer has been a very frequent activity in the industrial world nowadays. Technology valuation, and in particular technology pricing, has played a considerable role in these transactions, in spite of a huge amount of limitations in the pricing methodologies applied. Making a sound, traceable and reliable means for applying the price evaluation procedure, seems as a technological requirement to be traced for. The objective of delivering this paper is to introduce a new numerical technology pricing method to provide the two transacting parties a unique compromised price. A three-dimensional model for technology pricing is proposed and The TOPSPS algorithm has been utilized to select the most similar technologies to the intended one and the constructed scoring system is applied to calculate the final technology price accordingly.

  15. CONTAGIOUS EFFECTS OF OIL PRICES ON ASIAN STOCK MARKETS’ BEHAVIOUR

    Directory of Open Access Journals (Sweden)

    Jok-Tong Wan

    2016-05-01

    Full Text Available The main objective of this study is to examine the stock markets’ shock due to the effect of the price of oil in the East Asia Region. Particularly, this study examines if there is stock market interdependence during global oil price shocks (sudden changes for a sample of five total oil importers (the Philippines, Hong Kong SAR, Taiwan, South Korea, and Japan, four net oil importers (Indonesia, Singapore, Thailand, and China, and one net oil exporter (Malaysia between 1999 and 2014. From the result, an oil price change is collectively found to have a small but significant positive impact on the stock markets, in particular where a sudden decrease in oil prices tends to cause a stock market downturn and volatility. The world economy’s spending, financial investments in oil futures and foreign investment by oil rich nations are some underlying motives for inducing this oil-stock positive relation. The same direction of time-varying conditional correlations is found across East Asian stock markets during negative oil price shocks. The integration among East Asian stock markets is inducing the oil shock contagion to be transmitted from direct oil-affected countries (South Korea, Hong Kong, and Singapore to non-direct oil affected countries’ (Japan and Taiwan stock markets. In spite of a long practiced ASEAN+3 macroeconomics surveillance process and Early Warning System (EWS which can be customized for stock markets to prevent or detect the oil risk, hedging against initial oil-affected stock markets and a stronger influence by the East Asian countries in the global world of oil and capital investment are strongly suggested.

  16. A Web-Based Electronic Book (e-book) Library: The netLibrary Model.

    Science.gov (United States)

    Connaway, Lynn Silipigni

    2001-01-01

    Identifies elements that are important for academic libraries to use in evaluating electronic books, including content; acquisition and collection development; software and hardware standards and protocols; digital rights management; access; archiving; privacy; the market and pricing; and enhancements and ideal features. Describes netLibrary, a…

  17. System and method for determining the net output torque from a waste heat recovery system

    Science.gov (United States)

    Tricaud, Christophe; Ernst, Timothy C.; Zigan, James A.

    2016-12-13

    The disclosure provides a waste heat recovery system with a system and method for calculation of the net output torque from the waste heat recovery system. The calculation uses inputs from existing pressure and speed sensors to create a virtual pump torque sensor and a virtual expander torque sensor, and uses these sensors to provide an accurate net torque output from the WHR system.

  18. Is macroeconomic announcement news priced?

    NARCIS (Netherlands)

    de Goeij, Peter; Hu, Jiehui; Werker, Bas

    2016-01-01

    We test whether news contained in macroeconomic announcements (MEAs) is priced in the cross-section of stock returns. When including news on a set of widely followed individual macroeconomic fundamentals in the cross-section of stock returns, estimates of their prices of risk are consistent with the

  19. Price satisfaction and producer loyalty

    DEFF Research Database (Denmark)

    Mutonyi, Sarah; Beukel, Karin; Gyau, Amos

    2016-01-01

    Purpose The purpose of this paper is to investigate which dimensions of price satisfaction influence producers’ trust in buyers and assess the mediating role of such trust in the relationship between price satisfaction and producer loyalty in fresh fruit supply chains. Design/methodology/approach...

  20. Algorithms for optimal price regulations

    NARCIS (Netherlands)

    Grigoriev, Alexander; van Loon, Joyce; Uetz, Marc Jochen; Papadimitriou, C.; Zhang, S.

    2008-01-01

    Since summer 2007, mobile phone users in the European Union (EU) are protected by a ceiling on the roaming tariff when calling or receiving a call abroad. We analyze the effects of this price regulative policy, and compare it to alternative implementations of price regulations. The problem is a

  1. Strammere retningslinjer om transfer pricing

    DEFF Research Database (Denmark)

    Rossing, Christian Plesner

    2015-01-01

    Transfer pricing vedrører prisfastsættelsen på transaktioner, der foregår mellem koncernforbundne selskaber og er fortsat et tema, der nyder stort fokus hos både multinationale koncerner og skattemyndigheder. For den multinationale koncern er transfer pricing i høj grad en aktivitet, der består i...

  2. Pricing strategies for information goods

    Indian Academy of Sciences (India)

    R. Narasimhan (Krishtel eMaging) 1461 1996 Oct 15 13:05:22

    ual consumers – in North America alone, direct marketing was a $200 billion business in. 2001 ... direct marketing techniques have always been imprecise, with a conversion rate of less than. 2% largely due to the use .... lower profits from pricing at a level that will ensure that the sale takes place, and prices at half the upper ...

  3. Option price and market instability

    Science.gov (United States)

    Baaquie, Belal E.; Yu, Miao

    2017-04-01

    An option pricing formula, for which the price of an option depends on both the value of the underlying security as well as the velocity of the security, has been proposed in Baaquie and Yang (2014). The FX (foreign exchange) options price was empirically studied in Baaquie et al., (2014), and it was found that the model in general provides an excellent fit for all strike prices with a fixed model parameters-unlike the Black-Scholes option price Hull and White (1987) that requires the empirically determined implied volatility surface to fit the option data. The option price proposed in Baaquie and Cao Yang (2014) did not fit the data during the crisis of 2007-2008. We make a hypothesis that the failure of the option price to fit data is an indication of the market's large deviation from its near equilibrium behavior due to the market's instability. Furthermore, our indicator of market's instability is shown to be more accurate than the option's observed volatility. The market prices of the FX option for various currencies are studied in the light of our hypothesis.

  4. Ethnic diversity deflates price bubbles

    Science.gov (United States)

    Levine, Sheen S.; Apfelbaum, Evan P.; Bernard, Mark; Bartelt, Valerie L.; Zajac, Edward J.; Stark, David

    2014-01-01

    Markets are central to modern society, so their failures can be devastating. Here, we examine a prominent failure: price bubbles. Bubbles emerge when traders err collectively in pricing, causing misfit between market prices and the true values of assets. The causes of such collective errors remain elusive. We propose that bubbles are affected by ethnic homogeneity in the market and can be thwarted by diversity. In homogenous markets, traders place undue confidence in the decisions of others. Less likely to scrutinize others’ decisions, traders are more likely to accept prices that deviate from true values. To test this, we constructed experimental markets in Southeast Asia and North America, where participants traded stocks to earn money. We randomly assigned participants to ethnically homogeneous or diverse markets. We find a marked difference: Across markets and locations, market prices fit true values 58% better in diverse markets. The effect is similar across sites, despite sizeable differences in culture and ethnic composition. Specifically, in homogenous markets, overpricing is higher as traders are more likely to accept speculative prices. Their pricing errors are more correlated than in diverse markets. In addition, when bubbles burst, homogenous markets crash more severely. The findings suggest that price bubbles arise not only from individual errors or financial conditions, but also from the social context of decision making. The evidence may inform public discussion on ethnic diversity: it may be beneficial not only for providing variety in perspectives and skills, but also because diversity facilitates friction that enhances deliberation and upends conformity. PMID:25404313

  5. Price knowledge during grocery shopping

    DEFF Research Database (Denmark)

    Jensen, Birger Boutrup; Grunert, Klaus G

    2014-01-01

    accessible at the store exit. These findings enable the authors to reconcile diverging results from past research,showing how consumer price knowledge evolves and suggesting that the vast majority of consumers learn about prices, whether consciously orunconsciously, during grocery shopping. Thus, when...

  6. Carbon pricing in the EU

    NARCIS (Netherlands)

    Brink, Corjan; Vollebergh, Herman R.J.; Werf, van der Edwin

    2016-01-01

    This paper studies various options to support allowance prices in the EU Emissions Trading System (ETS), such as adjusting the cap, an auction reserve price, and fixed and variable carbon taxes in addition to the EU ETS. We use a dynamic computable general equilibrium model that explicitly allows

  7. Price as indicator for quality?

    DEFF Research Database (Denmark)

    Nielsen, Jørgen Ulff-Møller; Hansen, Jørgen Drud

    This paper examines the relation between price differences and quality differences in an oligopoly model with intra-industry trade, where goods are horizontally as well as vertically differentiated. The analysis demonstrates that the ratio of prices is not linked to the ratio of qualities in any ...

  8. Understanding international commodity price fluctuations

    NARCIS (Netherlands)

    Arezki, Rabah; Loungani, Prakash; van der Ploeg, Rick; Venables, Anthony J.

    An overview is provided of recent work on commodity prices, focusing on three themes: (i) "financialization" of commodity markets--commodities being considered by financial investors as a distinct asset class, (ii) trends and forecasts of commodity prices, and (iii) fracking-a shorthand for the

  9. Ethnic diversity deflates price bubbles.

    Science.gov (United States)

    Levine, Sheen S; Apfelbaum, Evan P; Bernard, Mark; Bartelt, Valerie L; Zajac, Edward J; Stark, David

    2014-12-30

    Markets are central to modern society, so their failures can be devastating. Here, we examine a prominent failure: price bubbles. Bubbles emerge when traders err collectively in pricing, causing misfit between market prices and the true values of assets. The causes of such collective errors remain elusive. We propose that bubbles are affected by ethnic homogeneity in the market and can be thwarted by diversity. In homogenous markets, traders place undue confidence in the decisions of others. Less likely to scrutinize others' decisions, traders are more likely to accept prices that deviate from true values. To test this, we constructed experimental markets in Southeast Asia and North America, where participants traded stocks to earn money. We randomly assigned participants to ethnically homogeneous or diverse markets. We find a marked difference: Across markets and locations, market prices fit true values 58% better in diverse markets. The effect is similar across sites, despite sizeable differences in culture and ethnic composition. Specifically, in homogenous markets, overpricing is higher as traders are more likely to accept speculative prices. Their pricing errors are more correlated than in diverse markets. In addition, when bubbles burst, homogenous markets crash more severely. The findings suggest that price bubbles arise not only from individual errors or financial conditions, but also from the social context of decision making. The evidence may inform public discussion on ethnic diversity: it may be beneficial not only for providing variety in perspectives and skills, but also because diversity facilitates friction that enhances deliberation and upends conformity.

  10. Cost Price Characteristics of Seaport and River Port Services

    Directory of Open Access Journals (Sweden)

    Teodor Perić

    2003-09-01

    Full Text Available The discussion about the various aspects of the cost price ofthe respective services starts from the previous knowledge aboutthe role and significance of the sea and river ports within thetraffic system, and the scope of their services. The previousknowledge includes also the knowledge about the used meansof long-term assets which are in this study classified into followingthree groups: a objects of infrast/Ucture, b objects ofsuprast/Ucture, and c shopfloors and equipment.The st/Ucture and functional purpose of these means confirmsthe high capital intensity of the sea and river port terminals,which leads to the high share of the fixed components ofthe costs in the cost price of these services.Most of the definitions of the cost price start from the factthat it is a part of the value or price of production, i.e. services,which accounts for the price of the used means (raw materialsand ftxed capital and the price of the labour.The procedure of obtaining the cost price is called calculation,and certain 1Ules or principles starting from punctuality,adaptability, updating, comparability, economic efficiency, etc.need to be complied with.Due to very high fragmentation of the sea and river port services,it is difficult to hannonise all the mentioned principles,and in calculating the full cost price various methods for calculatingthe common costs are applied, and the suitable methodsof distributing the common costs, i.e. overheads. In order tocalculate these procedures as precisely as possible, appropriateindicators are used, i.e. indirect indicators, but everythingwould be much simpler if the differentiation were narrower, i.e.if the number of given services were reduced by an adequateprocedure of levelling out.

  11. Linear Logic on Petri Nets

    DEFF Research Database (Denmark)

    Engberg, Uffe Henrik; Winskel, Glynn

    This article shows how individual Petri nets form models of Girard's intuitionistic linear logic. It explores questions of expressiveness and completeness of linear logic with respect to this interpretation. An aim is to use Petri nets to give an understanding of linear logic and give some apprai...

  12. Reference Guide Microsoft.NET

    NARCIS (Netherlands)

    Zee M van der; Verspaij GJ; Rosbergen S; IMP; NMD

    2003-01-01

    Developers, administrators and managers can get more understanding of the .NET technology with this report. They can also make better choices how to use this technology. The report describes the results and conclusions of a study of the usability for the RIVM of this new generation .NET development

  13. Net neutrality and audiovisual services

    NARCIS (Netherlands)

    van Eijk, N.; Nikoltchev, S.

    2011-01-01

    Net neutrality is high on the European agenda. New regulations for the communication sector provide a legal framework for net neutrality and need to be implemented on both a European and a national level. The key element is not just about blocking or slowing down traffic across communication

  14. Sticky prices and deviations from the Law of One Price: Evidence from Mexican micro-price data

    National Research Council Canada - National Science Library

    Elberg, AndreS

    2016-01-01

    This paper uses a novel dataset of weekly sampled store-level prices to study the impact of sticky prices on the volatility and persistence of intranational deviations from the Law of One Price (LOP...

  15. MEMS Calculator

    Science.gov (United States)

    SRD 166 MEMS Calculator (Web, free access)   This MEMS Calculator determines the following thin film properties from data taken with an optical interferometer or comparable instrument: a) residual strain from fixed-fixed beams, b) strain gradient from cantilevers, c) step heights or thicknesses from step-height test structures, and d) in-plane lengths or deflections. Then, residual stress and stress gradient calculations can be made after an optical vibrometer or comparable instrument is used to obtain Young's modulus from resonating cantilevers or fixed-fixed beams. In addition, wafer bond strength is determined from micro-chevron test structures using a material test machine.

  16. European attitudes to water pricing

    DEFF Research Database (Denmark)

    Jensen, Anne Kejser

    2016-01-01

    as is affordability concern, which may be explained by expectations of inequity measures to come in place in parallel with increasing water prices. Overall these results support the hypothesis that lack of information and affordability concern could lead to resistance towards efficient water pricing among the general......Efficient use of the water resource requires internalization of all costs in the price of water, including environmental and resource costs. However, water resource management tends to be highly political and increasing water prices are a sensitive and complicated policy matter. Hence......, there is a need for increased understanding of the implementation process and the attitudes towards implementation among the general public. This paper explores the spatial heterogeneity in the public attitude towards internalizing environmental and resource costs in the price of water across the EU regions...

  17. Pricing of temperature index insurance

    Directory of Open Access Journals (Sweden)

    Che Mohd Imran Che Taib

    2012-01-01

    Full Text Available The aim of this paper is to study pricing of weather insurance contracts based on temperature indices. Three different pricing methods are analysed: the classical burn approach, index modelling and temperature modelling. We take the data from Malaysia as our empirical case. Our results show that there is a significant difference between the burn and index pricing approaches on one hand, and the temperature modelling method on the other. The latter approach is pricing the insurance contract using a seasonal autoregressive time series model for daily temperature variations, and thus provides a precise probabilistic model for the fine structure of temperature evolution. We complement our pricing analysis by an investigation of the profit/loss distribution from the contract, in the perspective of both the insured and the insurer.

  18. PRICES - PREREQUISITE OF MARKET DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    VĂDUVA MARIA

    2017-08-01

    Full Text Available Prices are the key points of transfer and interactions. Balance means knowing the real demand and adapting thier supply at its level and structure. In studying the prices, the knowledge of economic content and the mechanism of their formation in exchange process is a crucial prerequisites to accomplish the transition from theoretical foundations to practical foundations of concrete modalities, of pricing techniques. If demand can assimilate the production of considered enterprises, then the manufacturer is concerned to determine that level of production for which will get maximum profit, profitability threshold, elasticity of supply compared with the price, to choose the best outlet. Price depends on the intersection of demand and supply

  19. Food prices and poverty negatively affect micronutrient intakes in Guatemala.

    Science.gov (United States)

    Iannotti, Lora L; Robles, Miguel; Pachón, Helena; Chiarella, Cristina

    2012-08-01

    Limited empirical evidence exists for how economic conditions affect micronutrient nutrition. We hypothesized that increasing poverty and rising food prices would reduce consumption of high-quality "luxury" foods, leading to an increased probability of inadequacy for several nutrients. The 2006 Guatemala National Living Conditions Survey was analyzed. First, energy and nutrient intakes and adequacy levels were calculated. Second, the income-nutrient relationships were investigated by assessing disparities in intakes, determining income-nutrient elasticities, and modeling nutrient intakes by reductions in income. Third, the food price-nutrient relationships were explored through determination of price-nutrient elasticities and modeling 2 price scenarios: an increase in food prices similar in magnitude to the food price crisis of 2007-2008 and a standardized 10% increase across all food groups. Disparities in nutrient intakes were greatest for vitamin B-12 (0.38 concentration index) and vitamin A (0.30 concentration index); these nutrients were highly and positively correlated with income (r = 0.22-0.54; P < 0.05). Although the baseline probability of inadequacy was highest for vitamin B-12 (83%), zinc showed the greatest increase in probability of inadequacy as income was reduced, followed by folate and vitamin A. With rising food prices, zinc intake was most acutely affected under both scenarios (P < 0.05) and folate intake in the poorest quintile (+7 percentage points) under the 10% scenario. Price-nutrient elasticities were highest for vitamin B-12 and the meat, poultry, and fish group (-0.503) and for folate and the legumes group (-0.343). The economic factors of food prices and income differentially influenced micronutrient intakes in Guatemala, notably zinc and folate intakes.

  20. A Small Universal Petri Net

    Directory of Open Access Journals (Sweden)

    Dmitry A. Zaitsev

    2013-09-01

    Full Text Available A universal deterministic inhibitor Petri net with 14 places, 29 transitions and 138 arcs was constructed via simulation of Neary and Woods' weakly universal Turing machine with 2 states and 4 symbols; the total time complexity is exponential in the running time of their weak machine. To simulate the blank words of the weakly universal Turing machine, a couple of dedicated transitions insert their codes when reaching edges of the working zone. To complete a chain of a given Petri net encoding to be executed by the universal Petri net, a translation of a bi-tag system into a Turing machine was constructed. The constructed Petri net is universal in the standard sense; a weaker form of universality for Petri nets was not introduced in this work.

  1. 48 CFR 36.207 - Pricing fixed-price construction contracts.

    Science.gov (United States)

    2010-10-01

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

  2. Minimum prices in a model with search frictions and price posting

    NARCIS (Netherlands)

    Cai, X.

    2015-01-01

    In this paper I consider the effects of a minimum price (maximum wage) in a random search model with price (wage) posting. I show that with a minimum price, the price distribution will have a mass point. If the minimum price is sufficiently high, the price distribution will become degenerate.

  3. Dynamic pricing for demand response considering market price uncertainty

    DEFF Research Database (Denmark)

    Ghazvini, Mohammad Ali Fotouhi; Soares, Joao; Morais, Hugo

    2017-01-01

    Retail energy providers (REPs) can employ different strategies such as offering demand response (DR) programs, participating in bilateral contracts, and employing self-generation distributed generation (DG) units to avoid financial losses in the volatile electricity markets. In this paper......, the problem of setting dynamic retail sales price by a REP is addressed with a robust optimization technique. In the proposed model, the REP offers price-based DR programs while it faces uncertainties in the wholesale market price. The main contribution of this paper is using a robust optimization approach...

  4. 7 CFR 1000.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    .... block cheese reported by the Department for the month; and (ii) The U.S. average NASS survey price for 500-pound barrel cheddar cheese (38 percent moisture) reported by the Department for the month plus 3... one-hundredth cent, shall be the U.S. average NASS dry whey survey price reported by the Department...

  5. The pricing of bank debt guarantees

    NARCIS (Netherlands)

    Arping, S.

    2010-01-01

    We analyze the desirability of fair pricing of government guarantees for bank liabilities. Fair pricing is desirable only if the banking sector is sufficiently transparent. In opaque banking systems, fair pricing may exacerbate banks' incentive to take excessive risks.

  6. Essays in financial transmission rights pricing

    Science.gov (United States)

    Posner, Barry

    This work examines issues in the pricing of financial transmission rights in the PJM market region. The US federal government is advocating the creation of large-scale, not-for-profit regional transmission organizations to increase the efficiency of the transmission of electricity. As a non-profit entity, PJM needs to allocate excess revenues collected as congestion rents, and the participants in the transmission markets need to be able to hedge their exposure to congestion rents. For these purposes, PJM has developed an instrument known as the financial transmission right (FTR). This research, utilizing a new data set assembled by the author, looks at two aspects of the FTR market. The first chapter examines the problem of forecasting congestion in a transmission grid. In the PJM FTR system firms bid in a competitive auction for FTRs that cover a period of one month. The auctions take place in the middle of the previous month; therefore firms have to forecast congestion rents for the period two to six weeks after the auction. The common methods of forecasting congestion are either time-series models or full-information engineering studies. In this research, the author develops a forecasting system that is more economically grounded than a simple time-series model, but requires less information than an engineering model. This method is based upon the arbitrage-cost methodology, whereby congesting is calculated as the difference of two non-observable variables: the transmission price difference that would exist in the total absence of transmission capacity between two nodes, and the ability of the existing transmission to reduced that price difference. If the ability to reduce the price difference is greater than the price difference, then the cost of electricity at each node will be the same, and congestion rent will be zero. If transmission capacity limits are binding on the flow of power, then a price difference persists and congestion rents exist. Three

  7. Welfare Effects of Higher Energy and Food Prices in Botswana: A ...

    African Journals Online (AJOL)

    Using a social accounting matrix (SAM) multiplier framework, the paper examines the welfare effects of higher prices of internationally traded energy and food commodities on economic sectors in Botswana. These are adverse supply–side shocks to Botswana since the country is a net importer of energy and food ...

  8. Tuition Elasticity of the Demand for Higher Education among Current Students: A Pricing Model.

    Science.gov (United States)

    Bryan, Glenn A.; Whipple, Thomas W.

    1995-01-01

    A pricing model is offered, based on retention of current students, that colleges can use to determine appropriate tuition. A computer-based model that quantifies the relationship between tuition elasticity and projected net return to the college was developed and applied to determine an appropriate tuition rate for a small, private liberal arts…

  9. Food Prices and Economic Well-Being in Sub-Saharan Africa ...

    African Journals Online (AJOL)

    Findings from the study reveal that both contemporaneous and the initially prevailing food prices impact negatively on economic wellbeing in the region. Thus, it is recommended that governments should put in place policies and measures (like social safety nets, targeted food subsidies, special cash transfers) that will ...

  10. Price Sensitivity of Demand for Prescription Drugs

    DEFF Research Database (Denmark)

    Simonsen, Marianne; Skipper, Lars; Skipper, Niels

    2016-01-01

    We investigate price sensitivity of demand for prescription drugs, using drug purchase records for the entire Danish population. We identify price responsiveness by exploiting variation in prices caused by kinked reimbursement schemes and implement a regression kink design. The results suggest some...... price responsiveness with corresponding price elasticities ranging from −0.2 to −0.7. Individuals with chronic disease and especially individuals above the age of 65 respond less to the price of drugs....

  11. Water Demand Under Alternative Price Structures

    OpenAIRE

    Sheila Olmstead; W. Michael Hanemann; Stavins, Robert N.

    2007-01-01

    We estimate the price elasticity of water demand with household-level data, structurally modeling the piecewise-linear budget constraints imposed by increasing-block pricing. We develop a mathematical expression for the unconditional price elasticity of demand under increasing-block prices and compare conditional and unconditional elasticities analytically and empirically. We test the hypothesis that price elasticity may depend on price structure, beyond technical differences in elasticity co...

  12. [Preliminary influence of 2015 cigarette excise tax up-regulation on cigarette retail price].

    Science.gov (United States)

    Feng, G Z; Wang, C X; Yang, J Q; Jiang, Y

    2016-10-10

    Objective: To evaluate the impact of cigarette excise tax up-regulation on the retail price of cigarettes in 2015. Methods: Nominal and real price of selected cigarette varieties were calculated with data from Tobacco Retail Price Monitoring Project, which was conducted in 10 cities of China from 2013 to 2015. The trend of the cigarette prices changing was analyzed with annual data. Results: A total of 352 varieties of cigarettes were surveyed during the three years. The nominal price of these cigarettes did not change significantly from 2013 to 2014. Compared with nominal price of 2014, the price of 286 varieties increased and the price of 10 most popular varieties increased from 0.6% to 7.4% after cigarette excise tax increased, but the actual prices had both rise and fall compared with 2013. Conclusions: Cigarette excise tax raise in 2015 had influence on the retail price of cigarettes. But the increase in retail price was very limited, if factors including inflation and purchasing power are taken into consideration. Therefore, the influence of 2015 cigarette excise tax raise on tobacco control needs further evaluation.

  13. Comparison of United States and Canadian Glaucoma Medication Costs and Price Change from 2006 to 2013

    Directory of Open Access Journals (Sweden)

    Matthew B. Schlenker

    2015-01-01

    Full Text Available Objective. Compare glaucoma medication costs between the United States (USA and Canada. Methods. We modelled glaucoma brand name and generic medication annual costs in the USA and Canada based on October 2013 Costco prices and previously reported bottle overfill rates, drops per mL, and wastage adjustment. We also calculated real wholesale price changes from 2006 to 2013 based on the Average Wholesale Price (USA and the Ontario Drug Benefit Price (Canada. Results. US brand name medication costs were on average 4x more than Canadian medication costs (range: 1.9x–6.9x, averaging a cost difference of $859 annually. US generic costs were on average the same as Canadian costs, though variation exists. US brand name wholesale prices increased from 2006 to 2013 more than Canadian prices (US range: 29%–349%; Canadian range: 9%–16%. US generic wholesale prices increased modestly (US range: −23%–58%, and Canadian wholesale prices decreased (Canadian range: −38%–0%. Conclusions. US brand name glaucoma medications are more expensive than Canadian medications, though generic costs are similar (with some variation. The real prices of brand name medications increased more in the USA than in Canada. Generic price changes were more modest, with real prices actually decreasing in Canada.

  14. Alcohol price and intoxication in college bars.

    Science.gov (United States)

    O'Mara, Ryan J; Thombs, Dennis L; Wagenaar, Alexander C; Rossheim, Matthew E; Merves, Michele L; Hou, Wei; Dodd, Virginia J; Pokorny, Steven B; Weiler, Robert M; Goldberger, Bruce A

    2009-11-01

    Many population studies find that alcohol prices are inversely related to alcohol consumption and alcohol-related problems, including among college students and young adults. Yet, little is known about the "micro-level" effects of alcohol price on the behavior of individual consumers in natural drinking settings such as college bars. Therefore, we assessed patron's cost per gram of ethanol consumed at on-premise drinking establishments and its association with intoxication upon leaving an establishment. On 4 consecutive nights during April 2008, data were collected from 804 patrons exiting 7 on-premise establishments in a bar district located adjacent to a large university campus in the southeastern United States. Anonymous interview and survey data were collected as well as breath alcohol concentration (BrAC) readings. We calculated each patron's expenditures per unit of ethanol consumed based on self-reported information regarding the type, size, number, and cost of consumed drinks. A multivariable model revealed that a 10-cent increase in cost per gram of ethanol at on-premise establishments was associated with a 30% reduction in the risk of exiting an establishment intoxicated (i.e., BrAC > or = 0.08 g/210 l). The results are consistent with economic theory and population-level research regarding the price elasticity of alcoholic beverages, which show that increases in alcohol prices are accompanied by less alcohol consumption. These findings suggest that stricter regulation of the drink discounting practices of on-premise drinking establishments would be an effective strategy for reducing the intoxication levels of exiting patrons.

  15. High-level Petri Nets

    DEFF Research Database (Denmark)

    High-level Petri nets are now widely used in both theoretical analysis and practical modelling of concurrent systems. The main reason for the success of this class of net models is that they make it possible to obtain much more succinct and manageable descriptions than can be obtained by means...... of low-level Petri nets - while, on the other hand, they still offer a wide range of analysis methods and tools. The step from low-level nets to high-level nets can be compared to the step from assembly languages to modern programming languages with an elaborated type concept. In low-level nets...... there is only one kind of token and this means that the state of a place is described by an integer (and in many cases even by a boolean). In high-level nets each token can carry a complex information/data - which, e.g., may describe the entire state of a process or a data base. Today most practical...

  16. Price and consumption of tobacco.

    Science.gov (United States)

    Singh, Virendra; Sharma, Bharat Bhushan; Saxena, Puneet; Meena, Hardayal; Mangal, Daya Krishan

    2012-07-01

    It is thought that price increase in tobacco products leads to reduced consumption. Though many studies have substantiated this concept, it has not been well studied in India. Recently, price of tobacco products was increased due to ban on plastic sachets of chewing tobacco and increased tax in Rajasthan. This study was designed to evaluate the effect of price rise on overall consumption of tobacco in Jaipur city, Rajasthan. This study was carried out in Jaipur city. Two-staged stratified sampling was used. In the first phase of study, cost and consumption of various tobacco products in the months of February and April were enquired from 25 retail tobacco shops. In the second phase, tobacco consumption was enquired from 20 consecutive consumers purchasing any tobacco product from all the above retail tobacco shops. The data were statistically analyzed using descriptive statistics and paired "t" test. The comparison of prices of tobacco products between February and April revealed that the price of cigarette, bidi, and chewing tobacco has increased by 19%, 21%, and 68%, respectively. Average decrease in sales of cigarettes, bidi, and chewing tobacco at shops included in the study were 14%, 23%, and 38%, respectively. The consumers purchasing tobacco also reported decreased consumption. Chewing tobacco showed the maximum reduction (21%). Consumption of cigarette and bidi has also reduced by 15% and 13%, respectively. It may be concluded that reduction in consumption is associated with increased price of tobacco products. Reduced consumption is comparative to the magnitude of price increase.

  17. Spikes and memory in (Nord Pool) electricity price spot prices

    DEFF Research Database (Denmark)

    Proietti, Tomasso; Haldrup, Niels; Knapik, Oskar

    Electricity spot prices are subject to transitory sharp movements commonly referred to as spikes. The paper aims at assessing their effects on model based inferences and predictions, with reference to the Nord Pool power exchange. We identify a spike as a price value which deviates substantially...... the spikes, i.e. shrinking an observation deviating substantially from the normal price towards the one-step-ahead prediction. Our empirical application illustrates the effects of the spikes on the estimates of the parameters governing the persistence of the series; moreover, a real time rolling forecasting...... from the normal price, where the latter is defined as the expectation arising from a model accounting for long memory at the zero and at the weekly seasonal frequencies, given the knowledge of the past realizations. Hence, a spike is associated to a time series innovation with size larger than...

  18. Dynamic Pricing for Demand Response Considering Market Price Uncertainty

    National Research Council Canada - National Science Library

    Mohammad Ali Fotouhi Ghazvini; João Soares; Hugo Morais; Rui Castro; Zita Vale

    2017-01-01

    ...) units to avoid financial losses in the volatile electricity markets. In this paper, the problem of setting dynamic retail sales price by a REP is addressed with a robust optimization technique...

  19. Pro asynchronous programming with .NET

    CERN Document Server

    Blewett, Richard; Ltd, Rock Solid Knowledge

    2014-01-01

    Pro Asynchronous Programming with .NET teaches the essential skill of asynchronous programming in .NET. It answers critical questions in .NET application development, such as: how do I keep my program responding at all times to keep my users happy how do I make the most of the available hardware how can I improve performanceIn the modern world, users expect more and more from their applications and devices, and multi-core hardware has the potential to provide it. But it takes carefully crafted code to turn that potential into responsive, scalable applications.With Pro Asynchronous Programming

  20. Conformal Nets II: Conformal Blocks

    Science.gov (United States)

    Bartels, Arthur; Douglas, Christopher L.; Henriques, André

    2017-08-01

    Conformal nets provide a mathematical formalism for conformal field theory. Associated to a conformal net with finite index, we give a construction of the `bundle of conformal blocks', a representation of the mapping class groupoid of closed topological surfaces into the category of finite-dimensional projective Hilbert spaces. We also construct infinite-dimensional spaces of conformal blocks for topological surfaces with smooth boundary. We prove that the conformal blocks satisfy a factorization formula for gluing surfaces along circles, and an analogous formula for gluing surfaces along intervals. We use this interval factorization property to give a new proof of the modularity of the category of representations of a conformal net.

  1. Spatial peak-load pricing

    Energy Technology Data Exchange (ETDEWEB)

    Arellano, M. Soledad; Serra, Pablo [Universidad de Chile, Dept. of Industrial Engineering, Santiago (Chile)

    2007-03-15

    This article extends the traditional electricity peak-load pricing model to include transmission costs. In the context of a two-node, two-technology electric power system, where suppliers face inelastic demand, we show that when the marginal plant is located at the energy-importing center, generators located away from that center should pay the marginal capacity transmission cost; otherwise, consumers should bear this cost through capacity payments. Since electric power transmission is a natural monopoly, marginal-cost pricing does not fully cover costs. We propose distributing the revenue deficit among users in proportion to the surplus they derive from the service priced at marginal cost. (Author)

  2. Effects of unit-based pricing on household waste collection demand: A meta-regression analysis

    NARCIS (Netherlands)

    Bel, G.; Gradus, R.H.J.M.

    2016-01-01

    Reducing the quantity of waste is an objective pursued by an increasing number of governments. Pricing waste has been one of the most important tools used for that purpose, and the literature on the demand for household waste disposal shows a wide diversity of price elasticity calculations. We

  3. The effect of changes in lumber and furniture prices on wood furniture manufacturers' lumber usage

    Science.gov (United States)

    William G. Luppold

    1983-01-01

    Wood furniture manufacturers' demands for oak, maple, poplar, open-grain, and close-grain lumber are estimated using cross-sectional, time-series techniques. The analyses indicate that the demand for open-grain species is more price responsive than the demand for close-grain species. The calculated cross-price elasticities indicate that furniture producers do...

  4. A sensitivity analysis of process design parameters, commodity prices and robustness on the economics of odour abatement technologies.

    Science.gov (United States)

    Estrada, José M; Kraakman, N J R Bart; Lebrero, Raquel; Muñoz, Raúl

    2012-01-01

    The sensitivity of the economics of the five most commonly applied odour abatement technologies (biofiltration, biotrickling filtration, activated carbon adsorption, chemical scrubbing and a hybrid technology consisting of a biotrickling filter coupled with carbon adsorption) towards design parameters and commodity prices was evaluated. Besides, the influence of the geographical location on the Net Present Value calculated for a 20 years lifespan (NPV20) of each technology and its robustness towards typical process fluctuations and operational upsets were also assessed. This comparative analysis showed that biological techniques present lower operating costs (up to 6 times) and lower sensitivity than their physical/chemical counterparts, with the packing material being the key parameter affecting their operating costs (40-50% of the total operating costs). The use of recycled or partially treated water (e.g. secondary effluent in wastewater treatment plants) offers an opportunity to significantly reduce costs in biological techniques. Physical/chemical technologies present a high sensitivity towards H2S concentration, which is an important drawback due to the fluctuating nature of malodorous emissions. The geographical analysis evidenced high NPV20 variations around the world for all the technologies evaluated, but despite the differences in wage and price levels, biofiltration and biotrickling filtration are always the most cost-efficient alternatives (NPV20). When, in an economical evaluation, the robustness is as relevant as the overall costs (NPV20), the hybrid technology would move up next to BTF as the most preferred technologies. Copyright © 2012 Elsevier Inc. All rights reserved.

  5. ON PRICE CHOICE AT SELLING OF INFORMATION RESOURCES

    Directory of Open Access Journals (Sweden)

    O. S. Ivanova

    2015-05-01

    Full Text Available The paper considers the problem of the pricing policy determination in the company, selling information resource at the market. The problem of the optimal price determination for an information resource is solved depending on the time for the case when the seller-company has no competitors in the market, the market is saturated, and buyers are not able to further spread of the resource. Conditions for the optimal choice of information resource price have been obtained; the maximum possible income of the company has been calculated for linear demand function, and conditions, determining the duration and volume of sales, providing the maximum of average income of the company, have been obtained as well. The problem of optimal price choice is solved by macrosystem approach that has made it possible to reduce it to the isoperimetric kind. It is shown that the optimal price dependence on time for a linear demand function should provide a linearly increasing rate of sales. Conditions have been derived under which the sales proceedings for an information resource are positive, relationship is determined between volume of sales and timeline at which the average income during the sales reaches its maximum. The results are given in dimensionless form, thereby reducing the number of independent parameters. These results are usable for the pricing analysis of software and other information products.

  6. An Analysis of Alternative Weighting System on the National Price ...

    African Journals Online (AJOL)

    Finally, the paper calculates both the “plutocratic” and “democratic” inflation for the households in the lowest quintile of consumption and compare to similar inflation for the highest quintile. The paper finds that the plutocratic weighted inflation tends to be more sensitive to the changes in the prices of goods that are mostly ...

  7. Optimal Fourier Inversion in Semi-analytical Option Pricing

    NARCIS (Netherlands)

    R. Lord (Roger); Ch. Kahl

    2006-01-01

    textabstractAt the time of writing this article, Fourier inversion is the computational method of choice for a fast and accurate calculation of plain vanilla option prices in models with an analytically available characteristic function. Shifting the contour of integration along the complex plane

  8. THE EFFECTS OF SWINGS IN GLOBAL WHEAT PRICES ON THE DOMESTIC MARKETS IN AFGHANISTAN

    Directory of Open Access Journals (Sweden)

    Najibullah Hassanzoy

    2016-10-01

    Full Text Available The recent shocks in global prices of cereals and the spillover effects of trade restrictive policies adversely affected domestic markets, particularly in the net food importing countries such as Afghanistan. This paper investigates the effects of 2007–2008 spikes in global wheat prices on the dynamics of price transmission and long-run equilibrium relationship between global and domestic wheat markets. The findings indicate that domestic and global wheat markets may be cointegrated in Regime-I (pre-break, Regime-II (post-break and the overall sample period. Moreover, the elasticity of price transmission and speed of adjustment towards the long-run equilibrium are substantially different between the two regimes, i.e., they appear to be larger in Regime-I as compared to Regime-II. Similarly, the effect of a shock in global wheat prices on domestic wheat markets might be long-lasting in Regime-I but transitory in Regime-II. This research underlines the need for mitigating the adverse effect of spikes in global wheat prices on domestic wheat markets in the context of a landlocked net food importing country.

  9. Tacit collusion among hospitals in price competitive markets.

    Science.gov (United States)

    Mobley, L R

    1996-01-01

    Horizontal and vertical mergers, and coalition and network building activity have recently escalated in the US hospital industry in response to actual and threatened increases in competition. Parties to this industry's consolidation state that increased efficiency is the primary motive. However, increased consolidation may lead to increased awareness of inter-dependence, and facilitate 'conscious parallelism', or tacit collusion. In conjunction with this, selective contracting practices by payors with hospitals for negotiated prices may have increased the awareness of interdependence among price-competing hospitals. We posit that cost asymmetries arising from first-mover advantages to merged hospitals and multihospital chain members may be used strategically in local markets to facilitate tacit arrival at profit maximizing prices. Thus, hospital mergers and acquisitions which enhance efficiency in the short run may not yield net gains to society in the long run, as they may alter incentives which parameterize the potential for implicit cooperation. This outcome depends upon mitigating local market conditions, such as capacity utilization and market power held by payors. The current view that safeguarding emerging price competition is important necessitates careful analysis of how merger is likely to affect bargaining power between hospitals and purchasers. This complexity precludes the use of simple antitrust rules or guidelines in this industry.

  10. Dynamic Price Dispersion of Storable Goods

    DEFF Research Database (Denmark)

    Gao, Cixiu

    2014-01-01

    consists of one-time price reductions and several consecutive periods in which all retailers offer the regular price. The model predicts that competition is the hardest when consumer inventories are zero, and that at high inventory levels the probability of holding a sale is low.......In this paper I provide an analytical model for the rationale behind supermarket pricing patterns characterized by long-term high prices and temporary price reductions. The model is based on the understanding that temporary price reductions serve the role of price discrimination between consumers...... with different search costs and willingness to wait. I demonstrate that the high-price-low-price pattern is rational for storable goods. In a Markov-perfect equilibrium, agents’ actions depend on consumer inventory, and purchase decisions are characterized by a critical price. The equilibrium price series...

  11. Petri Net Tool Overview 1986

    DEFF Research Database (Denmark)

    Jensen, Kurt; Feldbrugge, Frits

    1987-01-01

    This paper provides an overview of the characteristics of all currently available net based tools. It is a compilation of information provided by tool authors or contact persons. A concise one page overview is provided as well....

  12. Understanding Net Zero Energy Buildings

    DEFF Research Database (Denmark)

    Salom, Jaume; Widén, Joakim; Candanedo, José

    2011-01-01

    Although several alternative definitions exist, a Net-Zero Energy Building (Net ZEB) can be succinctly described as a grid-connected building that generates as much energy as it uses over a year. The “net-zero” balance is attained by applying energy conservation and efficiency measures...... and by incorporating renewable energy systems. While based on annual balances, a complete description of a Net ZEB requires examining the system at smaller time-scales. This assessment should address: (a) the relationship between power generation and building loads and (b) the resulting interaction with the power grid....... This paper presents and categorizes quantitative indicators suitable to describe both aspects of the building’s performance. These indicators, named LMGI - Load Matching and Grid Interaction indicators, are easily quantifiable and could complement the output variables of existing building simulation tools...

  13. PolicyNet Publication System

    Data.gov (United States)

    Social Security Administration — The PolicyNet Publication System project will merge the Oracle-based Policy Repository (POMS) and the SQL-Server CAMP system (MSOM) into a new system with an Oracle...

  14. KM3NeT

    CERN Multimedia

    KM3NeT is a large scale next-generation neutrino telescope located in the deep waters of the Mediterranean Sea, optimized for the discovery of galactic neutrino sources emitting in the TeV energy region.

  15. Net Neutrality: Background and Issues

    National Research Council Canada - National Science Library

    Gilroy, Angele A

    2006-01-01

    .... The move to place restrictions on the owners of the networks that compose and provide access to the Internet, to ensure equal access and nondiscriminatory treatment, is referred to as "net neutrality...

  16. Determinants of the net interest margins in BH banks

    Directory of Open Access Journals (Sweden)

    Plakalović Novo

    2015-01-01

    Full Text Available In this paper, the subject of analysis is influence of certain macroeconomic and microeconomic variables on bank net interest margins in Bosnia and Herzegovina (BH for the period from 2008 to 2013 through a multiple linear regression models. The level and dynamics of NIM indicate the efficiency of financial intermediation. The observed period is characterized by the reduction in net interest margins of banks over the previous decade, which was characterized by high GDP growth, bank loans and high-interest rates and high profitability. Therefore, this study examines the factors that affect the level of net interest margins in the domestic banking industry. The main objective of this paper is to determine whether there is interdependence in the movement between the independent and dependent variables through a multiple linear regression. The net interest margin will be observed as a dependent variable, and liquidity risk, operating costs, credit risk, the index of market concentration, funding risk, the growth rate of gross domestic product and consumer price index will be used as independent variables.

  17. Energy performance of windows based on the net energy gain

    DEFF Research Database (Denmark)

    Svendsen, Svend; Kragh, Jesper; Laustsen, Jacob Birck

    2005-01-01

    The paper presents a new method to set up energy performance requirements and energy classes for windows of all dimensions and configurations. The net energy gain of windows is the solar gain minus the heat loss integrated over the heating season. The net energy gain can be calculated for one...... orientation or averaged over different orientations. The averaged value may be used for energy labeling of windows of standard size. Requirements in building codes may also be based on the net energy gain instead of the thermal transmittance of the window. The size and the configuration of the window, i.......e. number of glazing units, have a very large effect on the net energy gain. Therefore the energy labeling or the requirements based on the standard size may not give valid information on the energy performance of windows of non-standard size. The paper presents a method to set up requirements and classes...

  18. Association of Cigarette Price Differentials With Infant Mortality in 23 European Union Countries.

    Science.gov (United States)

    Filippidis, Filippos T; Laverty, Anthony A; Hone, Thomas; Been, Jasper V; Millett, Christopher

    2017-11-01

    Raising the price of cigarettes by increasing taxation has been associated with improved perinatal and child health outcomes. Transnational tobacco companies have sought to undermine tobacco tax policy by adopting pricing strategies that maintain the availability of budget cigarettes. To assess associations between median cigarette prices, cigarette price differentials, and infant mortality across the European Union. A longitudinal, ecological study was conducted from January 1, 2004, to December 31, 2014, of infant populations in 23 countries (comprising 276 subnational regions) within the European Union. Median cigarette prices and the differential between these and minimum cigarette prices were obtained from Euromonitor International. Pricing differentials were calculated as the proportions (%) obtained by dividing the difference between median and minimum cigarette price by median price. Prices were adjusted for inflation. Annual infant mortality rates. Associations were assessed using linear fixed-effect panel regression models adjusted for smoke-free policies, gross domestic product, unemployment rate, education, maternal age, and underlining temporal trends. Among the 53 704 641 live births during the study period, an increase of €1 (US $1.18) per pack in the median cigarette price was associated with a decline of 0.23 deaths per 1000 live births in the same year (95% CI, -0.37 to -0.09) and a decline of 0.16 deaths per 1000 live births the following year (95% CI, -0.30 to -0.03). An increase of 10% in the price differential between median-priced and minimum-priced cigarettes was associated with an increase of 0.07 deaths per 1000 live births (95% CI, 0.01-0.13) the following year. Cigarette price increases across 23 European countries between 2004 and 2014 were associated with 9208 (95% CI, 8601-9814) fewer infant deaths; 3195 (95% CI, 3017-3372) infant deaths could have been avoided had there been no cost differential between the median-priced and

  19. Supply Chain Shipment Pricing Data

    Data.gov (United States)

    US Agency for International Development — This data set provides supply chain health commodity shipment and pricing data. Specifically, the data set identifies Antiretroviral (ARV) and HIV lab shipments to...

  20. Dynamic pricing of a resource

    KAUST Repository

    Al-Dawsari, Monther Abdullah

    2013-06-04

    A method of dynamic pricing of a resource is presented. For example, the method includes determining a set of anticipated demands for one or more users to acquire the resource according to uncertainty of the one or more users in preferring one or more certain time periods of a plurality of time periods for acquiring the resource. Prices for the resource differ between at least two of the plurality of time periods. Each anticipated demand of the set is associated with a different one of the plurality of time periods. The method further includes setting prices for the resource during each of the plurality of time periods according to the determined set of anticipated demands. The determining of the set of anticipated demands and/or the setting of prices are implemented as instruction code executed on a processor device.

  1. Pricing Models Using Real Data

    Science.gov (United States)

    Obremski, Tom

    2008-01-01

    A practical hands-on classroom exercise is described and illustrated using the price of an item as dependent variable throughout. The exercise is well-tested and affords the instructor a variety of approaches and levels.

  2. Poverty, Policy and Price Transmission

    DEFF Research Database (Denmark)

    Elleby, Christian

    domestic goods. Households prefer the traded good which they substitute towards as their incomes increase, thus exposing themselves to world market price swings. Price transmission from international to domestic markets therefore increases with per capita income but also with income inequality. Model......This thesis consists of four self-contained chapters in which different aspects of the relationship between international commodity markets and domestic food markets are explored. What motivates the analysis is the recent surge in international commodity prices and the controversy over the poverty...... impact of the 2007-8 ‘food crisis’, in particular. The first paper analyses, in a stylized economic model, how the response of domestic aggregate food prices to an international shock depends on features of the country’s income distribution. The model is based on a dichotomy between traded and purely...

  3. Experimental Evidence on Transfer Pricing

    Directory of Open Access Journals (Sweden)

    Tran Quoc H.

    2016-06-01

    Full Text Available We use incentivized economics experiments to test both the point predictions and comparative static predictions of optimal transfer pricing models, comparing behavior under varying conditions, including wholly versus partially-owned subsidiaries and different tariff and tax rates. As predicted, we find that transfer prices are responsive to relative tax and tariff rates as well as ownership proportions. Additionally, we examine convergence and learning in this setting. While individuals do not choose optimal transfer prices, their choices converge to optimal levels with experience. This paper thus makes two important contributions. First, by comparing behavior with theoretical predictions it provides evidence of whether (and when individuals set transfer prices optimally. Second, by comparing behavior under conditions of full and partial ownership it provides evidence on the impact of policy interventions (like regulating ownership proportions by MNEs on tax revenues.

  4. Petri Nets in Cryptographic Protocols

    DEFF Research Database (Denmark)

    Crazzolara, Federico; Winskel, Glynn

    2001-01-01

    A process language for security protocols is presented together with a semantics in terms of sets of events. The denotation of process is a set of events, and as each event specifies a set of pre and postconditions, this denotation can be viewed as a Petri net. By means of an example we illustrate...... how the Petri-net semantics can be used to prove security properties....

  5. The Economics of Net Neutrality

    OpenAIRE

    Hahn, Robert W.; Wallsten, Scott

    2006-01-01

    This essay examines the economics of "net neutrality" and broadband Internet access. We argue that mandating net neutrality would be likely to reduce economic welfare. Instead, the government should focus on creating competition in the broadband market by liberalizing more spectrum and reducing entry barriers created by certain local regulations. In cases where a broadband provider can exercise market power the government should use its antitrust enforcement authority to police anticompetitiv...

  6. Availability, prices and affordability of essential medicines in Haiti.

    Science.gov (United States)

    Chahal, Harinder Singh; St Fort, Nazaire; Bero, Lisa

    2013-12-01

    Haiti is the poorest country in the Western Hemisphere and faces numerous challenges, including inadequate medication access for its residents. The objective of this study was to determine the availability, prices, and affordability of essential medicines in Haiti and compare these findings to other countries. We conducted a cross-sectional nationwide survey in 2011 of availability and consumer prices of 60 essential medicines in Haiti using a standardized methodology developed by the World Health Organization and Health Action International. The survey was conducted in 163 medicine outlets in four health care sectors (public, retail, nonprofit and mixed sectors). Medicine prices were expressed as ratios relative to the International Reference Price. Affordability was calculated by comparing the costs of treatment for common conditions with the salary of the lowest paid government worker and was compared to available data from four Latin American countries. For generic medicines, the availability in public, retail, nonprofit and mixed sectors was 20%, 37%, 24% and 23% of medications, respectively. Most of the available medicines were priced higher than the International Reference Price. The lowest paid government worker would need 2.5 days' wages to treat an adult respiratory infection with generic medicines from the public sector. For treatment of common conditions with originator brands (OB) purchased from a retail pharmacy, costs were between 1.4 (anaerobic bacterial infection) and 13.7 (hyperlipidemia) days' wages, respectively. Treatment of pediatric bacterial infections with the OB of ceftriaxone from a retail pharmacy would cost 24.6 days' wages. Prices in Bolivia, Colombia, Mexico and Nicaragua were frequently lower for comparable medications. The availability of essential medicines was low and prices varied widely across all four sectors. Over 75% of Haitians live on less than US$ 2.00 /day; therefore, most medication regimens are largely unaffordable

  7. Sharecropping, interlinkage, and price variation

    OpenAIRE

    Debapriya Sen

    2005-01-01

    This paper proposes a theory of sharecropping and interlinkage on the basis of seasonal variation of price and imperfectly competitive nature of rural product markets. First, a benchmark model is considered to show the optimality of sharecropping in the presence of price variation. This model is extended by allowing interlinked contracts to show that there are multiple equilibria and both forms of contracts�fixed rental and sharecropping�can be sustained in equilibrium. Finally, incorpora...

  8. Contagion and REIT Stock Prices

    OpenAIRE

    Chinmoy Ghosh; Randall S. Guttery; C. F. Sirmans

    1998-01-01

    This article investigates the contagious movement of real estate investment trust (REIT) stock prices in response to real estate news related to financial institutions' real estate portfolios. The basic hypothesis is that because real estate assets are traded infrequently, the market has incomplete information about their true value; thus, REIT stock prices react negatively to announcements of poorly performing real estate portfolios of financial institutions. Consistent with the hypothesis, ...

  9. Petroleum price; Prix du petrole

    Energy Technology Data Exchange (ETDEWEB)

    Maurice, J

    2001-07-01

    The oil market is the most volatile of all markets, with the exception of the Nasdaq. It is also the biggest commodity market in the world. Therefore one cannot avoid forecasting oil prices, nor can one expect to avoid the forecasting errors that have been made in the past. In his report, Joel Maurice draws a distinction between the short term and the medium-long term in analysing the outlook for oil prices. (author)

  10. Information, Search, and Price Dispersion

    OpenAIRE

    Baye, Michael R; John Morgan; Patrick Scholten

    2006-01-01

    We provide a unified treatment of alternative models of information acquisition/transmission that have been advanced to rationalize price dispersion in online and offline markets for homogeneous products. These different frameworks -- which include sequential search, fixed sample search, and clearinghouse models -- reveal that reductions in (or the elimination of) consumer search costs need not reduce (or eliminate) price dispersion. Our treatment highlights a "duality" between search-theoret...

  11. Analysis of Cryptocurrencies Price Development

    OpenAIRE

    Jan Lansky

    2016-01-01

    Cryptocurrencies are a type of digital currencies based on cryptography principles. Cryptocurrencies are a unique combination of three characteristics: they provide anonymity, they are independent of central authority and they provide protection from double spending attack. The aim of this paper is to capture trends in the area of significant cryptocurrencies price developments and to explain their causes. The current research in this area is exclusively limited to an analysis of the price de...

  12. Investor Psychology and Asset Pricing

    OpenAIRE

    Hirshleifer, David

    2001-01-01

    The basic paradigm of asset pricing is in vibrant flux. The purely rational approach is being subsumed by a broader approach based upon the psychology of investors. In this approach, security expected returns are determined by both risk and misvaluation. This survey sketches a framework for understanding decision biases, evaluates the a priori arguments and the capital market evidence bearing on the importance of investor psychology for security prices, and reviews recent models.

  13. A Price Index Model for Road Freight Transportation and Its Empirical analysis in China

    Directory of Open Access Journals (Sweden)

    Liu Zhishuo

    2017-01-01

    Full Text Available The aim of price index for road freight transportation (RFT is to reflect the changes of price in the road transport market. Firstly, a price index model for RFT based on the sample data from Alibaba logistics platform is built. This model is a three levels index system including total index, classification index and individual index and the Laspeyres method is applied to calculate these indices. Finally, an empirical analysis of the price index for RFT market in Zhejiang Province is performed. In order to demonstrate the correctness and validity of the exponential model, a comparative analysis with port throughput and PMI index is carried out.

  14. The effect of the advertising price display format on consumer price perception

    OpenAIRE

    Okuse, Yoshiyuki

    2017-01-01

    Most retail advertisements, such as flyers or features, show both the sale price and an external reference price, such as the regular price. In such a case, how should advertisers display these prices? This study examines the effect of price placement format in advertisements. This study has two aims: (1) to examine the relationship between price perception and the format in the advertisement and (2) to examine the influence of psychological distance on price perception.

  15. Topics on Electricity Transmission Pricing

    Energy Technology Data Exchange (ETDEWEB)

    Bjoerndal, Mette

    2000-02-01

    Within the last decade we have experienced deregulation of several industries, such as airlines, telecommunications and the electric utility industry, the last-mentioned being the focus of this work. Both the telecommunications and the electricity sector depend on network facilities, some of which are still considered as natural monopolies. In these industries, open network access is regarded as crucial in order to achieve the gains from increased competition, and transmission tariffs are important in implementing this. Based on the Energy Act that was introduced in 1991, Norway was among the first countries to restructure its electricity sector. On the supply side there are a large number of competing firms, almost exclusively hydro plants, with a combined capacity of about 23000 MW, producing 105-125 TWh per year, depending on the availability of water. Hydro plants are characterized by low variable costs of operation, however since water may be stored in dams, water has an opportunity cost, generally known as the water value, which is the shadow price of water when solving the generator's inter temporal profit maximization problem. Water values are the main factor of the producers' short run marginal cost. Total consumption amounts to 112-117 TWh a year, and consumers, even households, may choose their electricity supplier independent of the local distributor to which the customer is connected. In fact, approximately 10% of the households have actually changed supplier. The web-site www.konkurransetilsynet.no indicates available contracts, and www.dinside.no provides an ''energy-calculator'' where one can check whether it is profitable to switch supplier. If a customer buys energy from a remote supplier, the local distributor only provides transportation facilities for the energy and is compensated accordingly. Transmission and distribution have remained monopolized and regulated by the Norwegian Water Resources and Energy

  16. Topics in Electricity Transmission Pricing

    Energy Technology Data Exchange (ETDEWEB)

    Bjoerndal, Mette

    2000-02-01

    Within the last decade we have experienced deregulation of several industries, such as airlines, telecommunications and the electric utility industry, the last-mentioned being the focus of this work. Both the telecommunications and the electricity sector depend on network facilities, some of which are still considered as natural monopolies. In these industries, open network access is regarded as crucial in order to achieve the gains from increased competition, and transmission tariffs are important in implementing this. Based on the Energy Act that was introduced in 1991, Norway was among the first countries to restructure its electricity sector. On the supply side there are a large number of competing firms, almost exclusively hydro plants, with a combined capacity of about 23000 MW, producing 105-125 TWh per year, depending on the availability of water. Hydro plants are characterized by low variable costs of operation, however since water may be stored in dams, water has an opportunity cost, generally known as the water value, which is the shadow price of water when solving the generator's inter temporal profit maximization problem. Water values are the main factor of the producers' short run marginal cost. Total consumption amounts to 112-117 TWh a year, and consumers, even households, may choose their electricity supplier independent of the local distributor to which the customer is connected. In fact, approximately 10% of the households have actually changed supplier. The web-site www.konkurransetilsynet.no indicates available contracts, and www.dinside.no provides an ''energy-calculator'' where one can check whether it is profitable to switch supplier. If a customer buys energy from a remote supplier, the local distributor only provides transportation facilities for the energy and is compensated accordingly. Transmission and distribution have remained monopolized and regulated by the Norwegian Water Resources and Energy

  17. The Optimal Price Ratio of Typical Energy Sources in Beijing Based on the Computable General Equilibrium Model

    Directory of Open Access Journals (Sweden)

    Yongxiu He

    2014-04-01

    Full Text Available In Beijing, China, the rational consumption of energy is affected by the insufficient linkage mechanism of the energy pricing system, the unreasonable price ratio and other issues. This paper combines the characteristics of Beijing’s energy market, putting forward the society-economy equilibrium indicator R maximization taking into consideration the mitigation cost to determine a reasonable price ratio range. Based on the computable general equilibrium (CGE model, and dividing four kinds of energy sources into three groups, the impact of price fluctuations of electricity and natural gas on the Gross Domestic Product (GDP, Consumer Price Index (CPI, energy consumption and CO2 and SO2 emissions can be simulated for various scenarios. On this basis, the integrated effects of electricity and natural gas price shocks on the Beijing economy and environment can be calculated. The results show that relative to the coal prices, the electricity and natural gas prices in Beijing are currently below reasonable levels; the solution to these unreasonable energy price ratios should begin by improving the energy pricing mechanism, through means such as the establishment of a sound dynamic adjustment mechanism between regulated prices and market prices. This provides a new idea for exploring the rationality of energy price ratios in imperfect competitive energy markets.

  18. Calculation Software

    Science.gov (United States)

    1994-01-01

    MathSoft Plus 5.0 is a calculation software package for electrical engineers and computer scientists who need advanced math functionality. It incorporates SmartMath, an expert system that determines a strategy for solving difficult mathematical problems. SmartMath was the result of the integration into Mathcad of CLIPS, a NASA-developed shell for creating expert systems. By using CLIPS, MathSoft, Inc. was able to save the time and money involved in writing the original program.

  19. 26 CFR 1.904(f)-3 - Allocation of net operating losses and net capital losses.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 9 2010-04-01 2010-04-01 false Allocation of net operating losses and net....904(f)-3 Allocation of net operating losses and net capital losses. For rules relating to the allocation of net operating losses and net capital losses, see § 1.904(g)-3T. ...

  20. 29 CFR 4204.13 - Net income and net tangible assets tests.

    Science.gov (United States)

    2010-07-01

    ... 29 Labor 9 2010-07-01 2010-07-01 false Net income and net tangible assets tests. 4204.13 Section....13 Net income and net tangible assets tests. (a) General. The criteria under this section are that either— (1) Net income test. The purchaser's average net income after taxes for its three most recent...

  1. Nonlife Insurance Pricing:

    Science.gov (United States)

    Darooneh, Amir H.

    We consider the insurance company as a physical system which is immersed in its environment (the financial market). The insurer company interacts with the market by exchanging the money through the payments for loss claims and receiving the premium. Here, in the equilibrium state, we obtain the premium by using the canonical ensemble theory, and compare it with the Esscher principle, the well-known formula in actuary for premium calculation. We simulate the case of car insurance for quantitative comparison.

  2. 48 CFR 15.405 - Price negotiation.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Price negotiation. 15.405... AND CONTRACT TYPES CONTRACTING BY NEGOTIATION Contract Pricing 15.405 Price negotiation. (a) The purpose of performing cost or price analysis is to develop a negotiation position that permits the...

  3. Price Discrimination and Resale: A Classroom Experiment

    Science.gov (United States)

    Basuchoudhary, Atin; Metcalf, Christopher; Pommerenke, Kai; Reiley, David; Rojas, Christian; Rostek, Marzena; Stodder, James

    2008-01-01

    The authors present a classroom experiment designed to illustrate key concepts of third-degree price discrimination. By participating as buyers and sellers, students actively learn (1) how group pricing differs from uniform pricing, (2) how resale between buyers limits a seller's ability to price discriminate, and (3) how preventing price…

  4. Dynamic pricing models for electronic business

    Indian Academy of Sciences (India)

    R. Narasimhan (Krishtel eMaging) 1461 1996 Oct 15 13:05:22

    Abstract. Dynamic pricing is the dynamic adjustment of prices to consumers depending upon the value these customers attribute to a product or service. Today's digital economy is ready for dynamic pricing; however recent research has shown that the prices will have to be adjusted in fairly sophisticated ways, based on.

  5. 48 CFR 15.402 - Pricing policy.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Pricing policy. 15.402... AND CONTRACT TYPES CONTRACTING BY NEGOTIATION Contract Pricing 15.402 Pricing policy. Contracting... certified cost or pricing data when required by 15.403-4, along with data other than certified cost or...

  6. 48 CFR 1615.402 - Pricing policy.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Pricing policy. 1615.402... Contract Pricing 1615.402 Pricing policy. Pricing of FEHB contracts is governed by 5 U.S.C. 8902(i), 5 U.S.C. 8906, and other applicable law. FAR subpart 15.4 will be implemented by applying its policies and...

  7. 48 CFR 215.402 - Pricing policy.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Pricing policy. 215.402... OF DEFENSE CONTRACTING METHODS AND CONTRACT TYPES CONTRACTING BY NEGOTIATION Contract Pricing 215.402 Pricing policy. Follow the procedures at PGI 215.402 when conducting cost or price analysis, particularly...

  8. Dynamic pricing models for electronic business

    Indian Academy of Sciences (India)

    Dynamic pricing is the dynamic adjustment of prices to consumers depending upon the value these customers attribute to a product or service. Today's digital economy is ready for dynamic pricing; however recent research has shown that the prices will have to be adjusted in fairly sophisticated ways, based on sound ...

  9. 10 CFR 218.12 - Pricing.

    Science.gov (United States)

    2010-01-01

    ... 10 Energy 3 2010-01-01 2010-01-01 false Pricing. 218.12 Section 218.12 Energy DEPARTMENT OF ENERGY OIL STANDBY MANDATORY INTERNATIONAL OIL ALLOCATION Supply Orders § 218.12 Pricing. The price for oil subject to a supply order issued pursuant to this subpart shall be based on the price conditions...

  10. Cost-Effectiveness of Price Subsidies on Fortified Packaged Infant Cereals in Reducing Iron Deficiency Anemia in 6-23-Month-Old-Children in Urban India.

    Directory of Open Access Journals (Sweden)

    Rafael Plessow

    Full Text Available Iron deficiency anaemia (IDA is a major public health problem in India and especially harmful in early childhood due to its impact on cognitive development and increased all-cause mortality. We estimate the cost-effectiveness of price subsidies on fortified packaged infant cereals (F-PICs in reducing IDA in 6-23-monthold children in urban India.Cost-effectiveness is estimated by comparing the net social cost of price subsidies with the disability-adjusted life-years (DALYs averted with price subsidies. The net social costs correspond to the cost of the subsidy minus the monetary costs saved by reducing IDA. The estimation proceeds in three steps: 1 the current lifetime costs of IDA are assessed with a health economic model combining the prevalence of anemia, derived from a large population survey, with information on the health consequences of IDA and their costs in terms of mortality, morbidity, and DALYs. 2 The effects of price subsidies on the demand for F-PICs are assessed with a market survey among 4801 households in 12 large Indian cities. 3 The cost-effectiveness is calculated by combining the findings of the first two steps with the results of a systematic review on the effectiveness of F-PICs in reducing IDA. We compare the cost-effectiveness of interventions that differ in the level of the subsidy and in the socio-economic strata (SES eligible for the subsidy.The lifetime social costs of IDA in 6-23-month-old children in large Indian cities amount to production losses of 3222 USD and to 726,000 DALYs. Poor households incur the highest costs, yet even wealthier households suffer substantial losses. The market survey reveals that few households currently buy F-PICs, with the share ranging from 14% to 36%. Wealthier households are generally more likely to buy FPICs. The costs of the subsidies per DALY averted range from 909 to 3649 USD. Interventions targeted at poorer households are most effective. Almost all interventions are cost

  11. Cost-Effectiveness of Price Subsidies on Fortified Packaged Infant Cereals in Reducing Iron Deficiency Anemia in 6-23-Month-Old-Children in Urban India.

    Science.gov (United States)

    Plessow, Rafael; Arora, Narendra Kumar; Brunner, Beatrice; Wieser, Simon

    2016-01-01

    Iron deficiency anaemia (IDA) is a major public health problem in India and especially harmful in early childhood due to its impact on cognitive development and increased all-cause mortality. We estimate the cost-effectiveness of price subsidies on fortified packaged infant cereals (F-PICs) in reducing IDA in 6-23-monthold children in urban India. Cost-effectiveness is estimated by comparing the net social cost of price subsidies with the disability-adjusted life-years (DALYs) averted with price subsidies. The net social costs correspond to the cost of the subsidy minus the monetary costs saved by reducing IDA. The estimation proceeds in three steps: 1) the current lifetime costs of IDA are assessed with a health economic model combining the prevalence of anemia, derived from a large population survey, with information on the health consequences of IDA and their costs in terms of mortality, morbidity, and DALYs. 2) The effects of price subsidies on the demand for F-PICs are assessed with a market survey among 4801 households in 12 large Indian cities. 3) The cost-effectiveness is calculated by combining the findings of the first two steps with the results of a systematic review on the effectiveness of F-PICs in reducing IDA. We compare the cost-effectiveness of interventions that differ in the level of the subsidy and in the socio-economic strata (SES) eligible for the subsidy. The lifetime social costs of IDA in 6-23-month-old children in large Indian cities amount to production losses of 3222 USD and to 726,000 DALYs. Poor households incur the highest costs, yet even wealthier households suffer substantial losses. The market survey reveals that few households currently buy F-PICs, with the share ranging from 14% to 36%. Wealthier households are generally more likely to buy FPICs. The costs of the subsidies per DALY averted range from 909 to 3649 USD. Interventions targeted at poorer households are most effective. Almost all interventions are cost saving from a

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

    Directory of Open Access Journals (Sweden)

    Kriswanto Kriswanto

    2016-09-01

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

  13. Two tier pricing system recommendation and summary

    Energy Technology Data Exchange (ETDEWEB)

    None

    1974-06-01

    In both the U.S. and the world today the most critical price system problem is the spectacular crude price set by the OPEC monopoly. In the U.S. this $10.00 plus price currently sets the price of 60% of our crude petroleum input. Therefore, the most powerful method available to reduce U.S. crude input price inflation is to reduce the OPEC monopoly price by at least $2 or 20%. At this price, it would supposedly approximate the long run cost of such energy. The situation is reviewed and recommendations and a summary are provided.

  14. Price and consumption of tobacco

    Directory of Open Access Journals (Sweden)

    Virendra Singh

    2012-01-01

    Full Text Available Background: It is thought that price increase in tobacco products leads to reduced consumption. Though many studies have substantiated this concept, it has not been well studied in India. Recently, price of tobacco products was increased due to ban on plastic sachets of chewing tobacco and increased tax in Rajasthan. This study was designed to evaluate the effect of price rise on overall consumption of tobacco in Jaipur city, Rajasthan. Materials and Methods: This study was carried out in Jaipur city. Two-staged stratified sampling was used. In the first phase of study, cost and consumption of various tobacco products in the months of February and April were enquired from 25 retail tobacco shops. In the second phase, tobacco consumption was enquired from 20 consecutive consumers purchasing any tobacco product from all the above retail tobacco shops. The data were statistically analyzed using descriptive statistics and paired "t" test. Results: The comparison of prices of tobacco products between February and April revealed that the price of cigarette, bidi, and chewing tobacco has increased by 19%, 21%, and 68%, respectively. Average decrease in sales of cigarettes, bidi, and chewing tobacco at shops included in the study were 14%, 23%, and 38%, respectively. The consumers purchasing tobacco also reported decreased consumption. Chewing tobacco showed the maximum reduction (21%. Consumption of cigarette and bidi has also reduced by 15% and 13%, respectively. Conclusion: It may be concluded that reduction in consumption is associated with increased price of tobacco products. Reduced consumption is comparative to the magnitude of price increase.

  15. 48 CFR 16.206 - Fixed-ceiling-price contracts with retroactive price redetermination.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Fixed-ceiling-price contracts with retroactive price redetermination. 16.206 Section 16.206 Federal Acquisition Regulations...-Price Contracts 16.206 Fixed-ceiling-price contracts with retroactive price redetermination. ...

  16. Export channel pricing management for integrated solutions

    OpenAIRE

    Roine, Henna; Sainio, Liisa-Maija; Saarenketo, Sami

    2012-01-01

    This article studies systems integrators' export channel pricing management for integrated solutions. We find support from our empirical case study for the notion that a systems integrator's export channel pricing strategy is multidimensional and dependent on international pricing environment and partner characteristics and that export partnerships have unique implications on a systems integrator's pricing process. The results show that giving up pricing control in export channel context may ...

  17. A Reconsideration of Full-Cost Pricing

    OpenAIRE

    Nubbemeyer, Elmar

    2010-01-01

    The wide use of full-cost pricing techniques remains an explanandum in both economics and management accounting theory. This work surveys and develops possible theoretical explanations of this industrial pricing behaviour and analyses some of its implications. By recognition of the widespread use of imperfect cost-plus pricing heuristics, observable pricing behaviour, as well as empirical market-level phenomena, can be explained. Furthermore, methodological aspects of marginalist price the...

  18. Pricing strategies of the supermarket sector

    OpenAIRE

    Leal, Joana Lobato da Fonseca Sáragga

    2014-01-01

    The food retail industry is a very competitive market. Supermarkets use a combination of price, quality of products and service to lure consumers and increase their profit. This work project draws upon both empirical and theoretical literatures to understand the different pricing strategies that the supermarket sector uses. Everyday Low Price, Promotional, Zone Pricing and Loyalty Programs are the most common pricing strategies in this industry. By using data from the Portuguese supermarket l...

  19. OPTIMAL PRICING OF EXECUTIVE MBA PROGRAMS

    OpenAIRE

    Francis Petit

    2010-01-01

    The purpose of this research is to determine the most strategic tuition pricing strategy that can be utilized by senior management in Business Schools when pricing Executive MBA Programs. To determine this information, the state of the Executive MBA market and three pricing strategies were reviewed in detail and an analysis ensued on the viability and applicability of each strategy for pricing Executive MBA Programs. The main findings of this study indicate that the Value Based pricing model ...

  20. Estimating Hedonic Prices for Stellenbosch wine

    OpenAIRE

    Sanja Lutzeyer

    2008-01-01

    This paper estimates a hedonic price function for Stellenbosch wines to determine the association between market value and different characteristics of these wines. In such a hedonic price function, the price of a bottle of wine is ascribed to the implicit value of its attributes. Besides contributing to both South African and international wine pricing literature, the benefits of developing a hedonic wine pricing model extend to numerous players in the wine industry. Consumers are provided w...

  1. Dynamic Duopoly with Best-Price Clauses

    OpenAIRE

    Monika Schnitzer

    1994-01-01

    This article investigates best-price clauses as a strategic devise to facilitate collusion in a dynamic duopoly game. Best-price clauses guarantee rebates on the purchase price if a customer finds a better price after his purchase. Two different price clauses are distinguished: "most favored customer" and "meet or release." I examine the collusive potential of both clauses in a finite-horizon duopoly model with homogeneous durable goods. In each period, new consumers enter the market. I show ...

  2. Transfer Pricing as a Tax Compliance Risk

    OpenAIRE

    Jost, Sven P.; Pfaffermayr, Michael; Winner, Hannes

    2010-01-01

    This paper contributes to the empirical literature on the transfer pricing behavior of multinational firms. Previous research mainly focuses on transfer pricing as a means of tax optimization. Our approach concentrates on transfer pricing as a critical compliance issue. Specifically, we investigate whether and to what extent the awareness of transfer pricing as a tax compliance issue responds to country and industry characteristics as well as firm-specifics. Empirically, the transfer pricing ...

  3. Learning to Price with Reference Effects

    OpenAIRE

    Kazerouni, Abbas; Van Roy, Benjamin

    2017-01-01

    As a firm varies the price of a product, consumers exhibit reference effects, making purchase decisions based not only on the prevailing price but also the product's price history. We consider the problem of learning such behavioral patterns as a monopolist releases, markets, and prices products. This context calls for pricing decisions that intelligently trade off between maximizing revenue generated by a current product and probing to gain information for future benefit. Due to dependence o...

  4. Three essays on access pricing

    Science.gov (United States)

    Sydee, Ahmed Nasim

    In the first essay, a theoretical model is developed to determine the time path of optimal access price in the telecommunications industry. Determining the optimal access price is an important issue in the economics of telecommunications. Setting a high access price discourages potential entrants; a low access price, on the other hand, amounts to confiscation of private property because the infrastructure already built by the incumbent is sunk. Furthermore, a low access price does not give the incumbent incentives to maintain the current network and to invest in new infrastructures. Much of the existing literature on access pricing suffers either from the limitations of a static framework or from the assumption that all costs are avoidable. The telecommunications industry is subject to high stranded costs and, therefore, to address this issue a dynamic model is imperative. This essay presents a dynamic model of one-way access pricing in which the compensation involved in deregulatory taking is formalized and then analyzed. The short run adjustment after deregulatory taking has occurred is carried out and discussed. The long run equilibrium is also analyzed. A time path for the Ramsey price is shown as the correct dynamic price of access. In the second essay, a theoretical model is developed to determine the time path of optimal access price for an infrastructure that is characterized by congestion and lumpy investment. Much of the theoretical literature on access pricing of infrastructure prescribes that the access price be set at the marginal cost of the infrastructure. In proposing this rule of access pricing, the conventional analysis assumes that infrastructure investments are infinitely divisible so that it makes sense to talk about the marginal cost of investment. Often it is the case that investments in infrastructure are lumpy and can only be made in large chunks, and this renders the marginal cost concept meaningless. In this essay, we formalize a model of

  5. Analysis of Options Contract, Option Pricing in Agricultural Products

    Directory of Open Access Journals (Sweden)

    H. Tamidy

    2016-03-01

    of standardizing the underlying asset 4- Impossibility of creating cross supply of the underlying asset In addition, after the introduction of the model parameters, we offers method calculating of the volatility (standard deviation price with using historical data (time series. Parameters of Blk- Scholes model are introduced and option contract of selected product will pricing. After effect of the rise and fall agreement prices (in the form of 9-defined scenario on the price of put option and sales option are studied. In this study, after forming the hypothetical option market for the Canola, option pricing is done. In this section, the criteria for selecting an appropriate asset base is expressed for option contract. The Black–Scholes model is introduced for the valuation of call option and European put option contract. After introducing the model parameters, the calculation of volatility (standard deviation of price using historical data (time series is presented .To achieve this aim, the Black – Scholes model was used under 9 strike price scenario of 5, 10, 15, 20 percent above; 5, 10, 15, and 20 percent lower and finally equal to current prices. This model was run in Excel 2010 and Derivea gem 1.5. Results and Discussion: The results showed 43% price volatility for canola that reflects uncertainty in its price. In the next stage of pricing, the purchase and sale of the selected product was done under the nine price scenarios. The results showed that the highest authority to purchase option was for scenario K1 and the highest buy option was for the K9 scenario. The least expensive buy option is K9 and the least expensive sell option is K1. Conclusion: The results show that the increase of strike price under these scenarios leads to a decrease of call option price and decrease of put option price. In addition, the farmers, businesspersons and agricultural products transforming factories with a different degree of risk disclosure can participate in these markets

  6. The role of discounts and loss leaders in medicine procurement in Austrian hospitals - a primary survey of official and actual medicine prices.

    Science.gov (United States)

    Vogler, Sabine; Zimmermann, Nina; Habl, Claudia; Mazag, Jan

    2013-07-04

    Knowledge about the prices of medicines used in hospitals, particularly the actually achieved ones, is scant. There are indications of large discounts and the provision of medicines cost-free to Austrian hospitals. The study aims to survey the official and actual prices of medicines procured by Austrian hospitals and to compare them to the out-patient prices. Primary price collection of the official hospital list prices and the actually achieved prices for 12 active ingredients as of the end of September 2009 in five general hospitals in Austria and analysis of the 15 most commonly used presentations. The official hospital list prices per unit differed considerably (from 1,500 Euro for an oncology medicine to 0.20 Euro for a generic cardiovascular medicine). For eight on-patent medicines (indications: oncology, anti-inflammatory, neurology-multiple sclerosis and blood) actual hospital medicine prices equaled the list prices (seven medicines) or were lower (one medicine) in four hospitals, whereas one hospital always reported higher actual prices due to the application of a wholesale mark-up. The actual hospital prices of seven medicines (cardiology and immunomodulation) were below the official hospital prices in all hospitals; of these all cardiovascular medicines were provided free-of-charge. Hospital prices were always lower than out-patient prices (pharmacy retail price net and reimbursement price). The results suggest little headroom for hospitals to negotiate price reductions for "monopoly products", i.e. medicines with no therapeutic alternative. Discounts and cost-free provision (loss leaders) appear to be granted for products of strategic importance for suppliers, e.g. cardiovascular medicines, whose treatment tends to be continued in primary care after discharge of the patient.

  7. The role of discounts and loss leaders in medicine procurement in Austrian hospitals - a primary survey of official and actual medicine prices

    Science.gov (United States)

    2013-01-01

    Background Knowledge about the prices of medicines used in hospitals, particularly the actually achieved ones, is scant. There are indications of large discounts and the provision of medicines cost-free to Austrian hospitals. The study aims to survey the official and actual prices of medicines procured by Austrian hospitals and to compare them to the out-patient prices. Methods Primary price collection of the official hospital list prices and the actually achieved prices for 12 active ingredients as of the end of September 2009 in five general hospitals in Austria and analysis of the 15 most commonly used presentations. Results The official hospital list prices per unit differed considerably (from 1,500 Euro for an oncology medicine to 0.20 Euro for a generic cardiovascular medicine). For eight on-patent medicines (indications: oncology, anti-inflammatory, neurology-multiple sclerosis and blood) actual hospital medicine prices equaled the list prices (seven medicines) or were lower (one medicine) in four hospitals, whereas one hospital always reported higher actual prices due to the application of a wholesale mark-up. The actual hospital prices of seven medicines (cardiology and immunomodulation) were below the official hospital prices in all hospitals; of these all cardiovascular medicines were provided free-of-charge. Hospital prices were always lower than out-patient prices (pharmacy retail price net and reimbursement price). Conclusion The results suggest little headroom for hospitals to negotiate price reductions for “monopoly products”, i.e. medicines with no therapeutic alternative. Discounts and cost-free provision (loss leaders) appear to be granted for products of strategic importance for suppliers, e.g. cardiovascular medicines, whose treatment tends to be continued in primary care after discharge of the patient. PMID:23826758

  8. A Three-Part Electricity Price Mechanism for Photovoltaic-Battery Energy Storage Power Plants Considering the Power Quality and Ancillary Service

    Directory of Open Access Journals (Sweden)

    Yajing Gao

    2017-08-01

    Full Text Available To solve the problem of solar abandoning, which is accompanied by the rapid development of photovoltaic (PV power generation, a demonstration of a photovoltaic-battery energy storage system (PV-BESS power plant has been constructed in Qinghai province in China. However, it is difficult for the PV-BESS power plant to survive and develop with the current electricity price mechanism and subsidy policy. In this paper, a three-part electricity price mechanism is proposed based on a deep analysis of the construction and operation costs and economic income. The on-grid electricity price is divided into three parts: the capacity price, graded electricity price, and ancillary service price. First, to ensure that the investment of the PV-BESS power plant would achieve the industry benchmark income, the capacity price and benchmark electricity price are calculated using the discounted cash flow method. Then, the graded electricity price is calculated according to the grade of the quality of grid-connected power. Finally, the ancillary service price is calculated based on the graded electricity price and ancillary service compensation. The case studies verify the validity of the three-part electricity price mechanism. The verification shows that the three-part electricity price mechanism can help PV-BESS power plants to obtain good economic returns, which can promote the development of PV-BESS power plants.

  9. Calculator calculus

    CERN Document Server

    McCarty, George

    1982-01-01

    How THIS BOOK DIFFERS This book is about the calculus. What distinguishes it, however, from other books is that it uses the pocket calculator to illustrate the theory. A computation that requires hours of labor when done by hand with tables is quite inappropriate as an example or exercise in a beginning calculus course. But that same computation can become a delicate illustration of the theory when the student does it in seconds on his calculator. t Furthermore, the student's own personal involvement and easy accomplishment give hi~ reassurance and en­ couragement. The machine is like a microscope, and its magnification is a hundred millionfold. We shall be interested in limits, and no stage of numerical approximation proves anything about the limit. However, the derivative of fex) = 67.SgX, for instance, acquires real meaning when a student first appreciates its values as numbers, as limits of 10 100 1000 t A quick example is 1.1 , 1.01 , 1.001 , •••• Another example is t = 0.1, 0.01, in the functio...

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

    Science.gov (United States)

    Puig-Junoy, Jaume

    2010-01-01

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

  11. [Mechanics and effects of European reference pricing for vaccines in Germany according to §130a Abs. 2 SGB V: an analysis using the example of influenza vaccines].

    Science.gov (United States)

    Barth, J; Hammerschmidt, T; Vollmar, J; Bierbaum, M; Schöffski, O

    2014-04-01

    On 01 January 2011 the bill for the reorganisation of the pharmaceutical market became effective. Since that time there is a European reference pricing (ERP) system for vaccines in order to bring down the German vaccine prices to an assumed lower European level. This study describes the implementation, functioning and effect of this new system. For influenza vaccines the impact of ERP on the price level and spread of prices is analysed. The description of the mechanism is based on the law and corresponding regulations of the head association of sickness funds (GKV-SV). The analysis of vaccine prices is based on the data of the i:data report (status of 01 September 2011) of ifap Service Institute. The European reference price is calculated as the average price of the manufacturer-selling-prices of the corresponding vaccine in the 4 countries of the European Union whose gross national income comes closest to the German one and in which the vaccine is distributed. The relied prices are weighted by sales and purchasing power parities of the respective countries. This analysis suggests that in particular the practical implementation of the reference price system should be further improved and specified. The calculation of the reference prices should ensure price comparability. In addition, significant problems remain in the deduction of discounts, because no distinction is made in the documentation of vaccinating doctors, whether vaccination was performed as a compulsory or statutory benefit. The comparison of the manufacturer-selling-prices of individual influenza vaccines with the corresponding reference prices shows an enlargement of the existing price differences, which have evolved in a competitive environment, after the implementation of the reference pricing -system. There is still a need for improvement in implementing the reference pricing system. In the most competitive vaccine market of influenza vaccines, the ERP-system lowers the prices, but seems to

  12. Pricing-to-Market: Price Discrimination or Product Differentiation?

    OpenAIRE

    Lavoie, Nathalie; Liu, Qihong

    2004-01-01

    We employ a vertical differentiation model to examine the potential bias in pricing-to-market (PTM) results when using unit values aggregating differentiated products. Our results show that: i) false evidence of PTM (“pseudo PTM”) is always found when using unit values, whether the law of one price holds or not; and ii) the extent to which results are biased due to pseudo PTM increases with the level of product differentiation. Correspondingly, our simulation results suggest that: i) it is po...

  13. Capture market share, raise prices

    Directory of Open Access Journals (Sweden)

    Robbins RA

    2015-08-01

    Full Text Available No abstract available. Article truncated after 150 words. Two principles in medical economics central to the Affordable Care Act (ACA were dealt blows by recently published studies. The first principle is the belief that economies of scale will result in lower prices. The theory is that larger insurers will have lower prices because they are more administratively efficient. The second principle is that provider-owned health plans, usually hospitals, will reduce premiums. The theory is that by controlling doctors over charging health plans in a fee-for-service model will lower prices. The first study published in Technology Science found that the largest insurer in each of the states served by HealthCare.gov raised their prices in 2015 by an average of over 10 per cent compared to smaller competitors in the same market (1. Those steeper price hikes for monthly premiums did not seem warranted by the level of health claims which did not significantly differ as a percentage of premiums ...

  14. Transfer pricing and safe harbours

    Directory of Open Access Journals (Sweden)

    Veronika Solilová

    2013-01-01

    Full Text Available Transfer prices are significant for both taxpayers and tax administrations because they determine in large part taxable profits of associated enterprises in different tax jurisdictions. Moreover, in the context of taxation, transfer prices must be complied with the arm’s length principle. However, Multinational Enterprises have been faced daily by conflicting rules and approaches to applying the arm’s length principle, burdensome documentation requirements, inconsistent audit standards and unpredictable competent authority outcomes. Therefore, the Committee on Fiscal Affairs launched another project on the administrative aspects of transfer pricing in 2010. On 16 May 2013 as a partial solution of this project was approved by the OECD Council the Revised Section E on Safe Harbours in Chapter IV of the Transfer Pricing Guidelines for Multinational Enterprises and Tax Authorities. The paper is focused on significant changes of newly approved chapter IV of the Transfer Pricing Guidelines for Multinational Enterprises and Tax Authorities, further on analysis of practice in this area, on advantages and disadvantages of safe harbours for taxpayers and competent authorities with aim to suggest recommendations on use of safe harbours in the Czech Republic.

  15. The price of electric power to households 1994; Pris paa elektrisk kraft til husholdninger 1994

    Energy Technology Data Exchange (ETDEWEB)

    Opedal, Sigrid [Norges Vassdrags- og Energiverk, Oslo (Norway)

    1994-07-01

    The Norges vassdrags- og energiverk (NVE) has made calculations which shows that the average electricity price to households by the 15th of April 1994 is 47,4 oere/kWh including electricity tax and VAT. This is a reduction of 1,2 oere (2,3 %) compared to the corresponding figure by the 1st of April 1993. The electricity tax has increased by 0,5 oere/kWh in this period and the reduction in the electricity price without taxes will then be even larger. Statistics made by NVE and Statistisk Sentralbyraa (SSB) show that the average price for sail to households has risen each year from 1970 to 1993 except for 1992. The price reduction from 1993 to 1994 may be a sign of the new power market and will also benefit the households. The reduction in price of electric power to households is mostly due to the reduction in transfer tariffs. The average price of transfer to the households was by 15th of April 1994 19,5 oere/kWh ex. taxes which is a reduction of 1,6 oere/kWh compared to the distribution prices in 1993. Out of the counties North Troendelag has the highest average price of 55,3 oere/kWh and Finnmark the lowest of 33,5 oere/kWh. Finnmark is however, exempt from electricity tax and VAT for electricity consumption for households. Rogaland has the lowest average price ex. taxes. There are still large price differences between the energy plants in some of the counties. The largest difference between highest and lowest price is to be found in Sogn og Fjordane where the difference between the highest stipulated price and the lowest price is of 28 oere/kWh.

  16. TimeNET Optimization Environment

    Directory of Open Access Journals (Sweden)

    Christoph Bodenstein

    2015-12-01

    Full Text Available In this paper a novel tool for simulation-based optimization and design-space exploration of Stochastic Colored Petri nets (SCPN is introduced. The working title of this tool is TimeNET Optimization Environment (TOE. Targeted users of this tool are people modeling complex systems with SCPNs in TimeNET who want to find parameter sets that are optimal for a certain performance measure (fitness function. It allows users to create and simulate sets of SCPNs and to run different optimization algorithms based on parameter variation. The development of this tool was motivated by the need to automate and speed up tests of heuristic optimization algorithms to be applied for SCPN optimization. A result caching mechanism is used to avoid recalculations.

  17. The mean time-limited crash rate of stock price

    Science.gov (United States)

    Li, Yun-Xian; Li, Jiang-Cheng; Yang, Ai-Jun; Tang, Nian-Sheng

    2017-05-01

    In this article we investigate the occurrence of stock market crash in an economy cycle. Bayesian approach, Heston model and statistical-physical method are considered. Specifically, Heston model and an effective potential are employed to address the dynamic changes of stock price. Bayesian approach has been utilized to estimate the Heston model's unknown parameters. Statistical physical method is used to investigate the occurrence of stock market crash by calculating the mean time-limited crash rate. The real financial data from the Shanghai Composite Index is analyzed with the proposed methods. The mean time-limited crash rate of stock price is used to describe the occurrence of stock market crash in an economy cycle. The monotonous and nonmonotonous behaviors are observed in the behavior of the mean time-limited crash rate versus volatility of stock for various cross correlation coefficient between volatility and price. Also a minimum occurrence of stock market crash matching an optimal volatility is discovered.

  18. Irrigation water demand: A meta-analysis of price elasticities

    Science.gov (United States)

    Scheierling, Susanne M.; Loomis, John B.; Young, Robert A.

    2006-01-01

    Metaregression models are estimated to investigate sources of variation in empirical estimates of the price elasticity of irrigation water demand. Elasticity estimates are drawn from 24 studies reported in the United States since 1963, including mathematical programming, field experiments, and econometric studies. The mean price elasticity is 0.48. Long-run elasticities, those that are most useful for policy purposes, are likely larger than the mean estimate. Empirical results suggest that estimates may be more elastic if they are derived from mathematical programming or econometric studies and calculated at a higher irrigation water price. Less elastic estimates are found to be derived from models based on field experiments and in the presence of high-valued crops.

  19. Reliability Calculations

    DEFF Research Database (Denmark)

    Petersen, Kurt Erling

    1986-01-01

    Risk and reliability analysis is increasingly being used in evaluations of plant safety and plant reliability. The analysis can be performed either during the design process or during the operation time, with the purpose to improve the safety or the reliability. Due to plant complexity and safety...... and availability requirements, sophisticated tools, which are flexible and efficient, are needed. Such tools have been developed in the last 20 years and they have to be continuously refined to meet the growing requirements. Two different areas of application were analysed. In structural reliability probabilistic...... approaches have been introduced in some cases for the calculation of the reliability of structures or components. A new computer program has been developed based upon numerical integration in several variables. In systems reliability Monte Carlo simulation programs are used especially in analysis of very...

  20. Implementing NetScaler VPX

    CERN Document Server

    Sandbu, Marius

    2014-01-01

    An easy-to-follow guide with detailed step-by step-instructions on how to implement the different key components in NetScaler, with real-world examples and sample scenarios.If you are a Citrix or network administrator who needs to implement NetScaler in your virtual environment to gain an insight on its functionality, this book is ideal for you. A basic understanding of networking and familiarity with some of the different Citrix products such as XenApp or XenDesktop is a prerequisite.