WorldWideScience

Sample records for networks transaction costs

  1. Networks and Transaction Costs

    DEFF Research Database (Denmark)

    Henning, Christian; Henningsen, Geraldine; Henningsen, Arne

    2011-01-01

    Based on the well-known fact that social networks can provide effective mechanisms that help to increase the trust level between two trade partners, we apply a simple game-theoretical framework to derive transaction costs as a high risk of opportunistic behavior in a repeated trade relation...... determined by the density and size of trading networks. In the empirical part of the paper we apply a two stage procedure to estimate the impact of social network structures on farm’s transaction costs observed for different input and output markets. At a first stage we estimate a multiple input...... transaction cost functions for all traded farm inputs and outputs. Estimation results based on a sample of 315 Polish farms imply a significant influence of social network structures on farm’s transaction costs. Moreover, estimated transaction costs correspond to a reasonable amount of farm specific shadow...

  2. Networks and Transaction Costs

    DEFF Research Database (Denmark)

    Henning, Christian; Henningsen, Geraldine; Henningsen, Arne

    2011-01-01

    determined by the density and size of trading networks. In the empirical part of the paper we apply a two stage procedure to estimate the impact of social network structures on farm’s transaction costs observed for different input and output markets. At a first stage we estimate a multiple input......Based on the well-known fact that social networks can provide effective mechanisms that help to increase the trust level between two trade partners, we apply a simple game-theoretical framework to derive transaction costs as a high risk of opportunistic behavior in a repeated trade relation...... transaction cost functions for all traded farm inputs and outputs. Estimation results based on a sample of 315 Polish farms imply a significant influence of social network structures on farm’s transaction costs. Moreover, estimated transaction costs correspond to a reasonable amount of farm specific shadow...

  3. Transaction costs and social networks in productivity measurement

    DEFF Research Database (Denmark)

    Henningsen, Geraldine; Henningsen, Arne; Henning, Christian H. C. A.

    2015-01-01

    and support. Hence, we use measures of a firm’s access to social networks as a proxy for the transaction costs the firm faces. We develop a microeconomic production model that takes into account transaction costs and networks. Using a data set of 384 Polish farms, we empirically estimate this model......We argue that in the presence of transaction costs, observed productivity measures may in many cases understate the true productivity, as production data seldom distinguish between resources entering the production process and resources of a similar type that are sacrificed for transaction costs....... Hence, both the absolute productivity measures and, more importantly, the productivity ranking will be distorted. A major driver of transaction costs is poor access to information and contract enforcement assistance. Social networks often catalyse information exchange as well as generate trust...

  4. Transaction costs and social networks in productivity measurement

    DEFF Research Database (Denmark)

    Henningsen, Geraldine; Henningsen, Arne; Henning, Christian H. C. A.

    2015-01-01

    . Hence, both the absolute productivity measures and, more importantly, the productivity ranking will be distorted. A major driver of transaction costs is poor access to information and contract enforcement assistance. Social networks often catalyse information exchange as well as generate trust...... and support. Hence, we use measures of a firm’s access to social networks as a proxy for the transaction costs the firm faces. We develop a microeconomic production model that takes into account transaction costs and networks. Using a data set of 384 Polish farms, we empirically estimate this model...... and compare different parametric, semiparametric, and nonparametric model specifications. Our results generally support our hypothesis. Especially, large trading networks and dense household networks have a positive influence on a farm’s productivity. Furthermore, our results indicate that transaction costs...

  5. Measuring the Influence of Networks on Transaction Costs Using a Nonparametric Regression Technique

    DEFF Research Database (Denmark)

    Henningsen, Geraldine; Henningsen, Arne; Henning, Christian H.C.A.

    All business transactions as well as achieving innovations take up resources, subsumed under the concept of transaction costs. One of the major factors in transaction costs theory is information. Firm networks can catalyse the interpersonal information exchange and hence, increase the access to non......-public information so that transaction costs are reduced.Many resources that are sacrificed for transaction costs are inputs that also enter the technical production process. As most production data do not distinguish between these two usages of inputs, high transaction costs result in reduced observed productivity...

  6. Measuring the influence of networks on transaction costs using a non-parametric regression technique

    DEFF Research Database (Denmark)

    Henningsen, Géraldine; Henningsen, Arne; Henning, Christian H.C.A.

    All business transactions as well as achieving innovations take up resources, subsumed under the concept of transaction costs. One of the major factors in transaction costs theory is information. Firm networks can catalyse the interpersonal information exchange and hence, increase the access to non......-public information so that transaction costs are reduced. Many resources that are sacrificed for transaction costs are inputs that also enter the technical production process. As most production data do not distinguish between these two usages of inputs, high transaction costs result in reduced observed productivity...

  7. Measuring the Influence of Information Networks on Transaction Costs Using a Non-parametric Regression Technique

    DEFF Research Database (Denmark)

    Henningsen, Geraldine; Henningsen, Arne; Henning, Christian

    2011-01-01

    All business transactions as well as achieving innovations take up resources, subsumed under the concept of transaction costs (TAC). One of the major factors in TAC theory is information. Information networks can catalyse the interpersonal information exchange and hence, increase the access...... to nonpublic information. Our analysis shows that information networks have an impact on the level of TAC. Many resources that are sacrificed for TAC are inputs that also enter the technical production process. As most production data do not separate between these two usages of inputs, high transaction costs...

  8. Measuring the Influence of Information Networks on Transaction Costs Using a Non-parametric Regression Technique

    DEFF Research Database (Denmark)

    Henningsen, Geraldine; Henningsen, Arne; Henning, Christian

    2011-01-01

    to nonpublic information. Our analysis shows that information networks have an impact on the level of TAC. Many resources that are sacrificed for TAC are inputs that also enter the technical production process. As most production data do not separate between these two usages of inputs, high transaction costs...

  9. Managerial accounting for transaction costs

    OpenAIRE

    Лабынцев, Николай Тихонович

    2015-01-01

    Essence and significance of transaction accounting and its basic concepts – transaction and transaction costs – have been determined. Main types of transaction costs and elements of transaction accounting for expenses have been considered. Source documents forms for the purpose of accounting for transaction costs have been worked out.

  10. Resources and transaction costs

    DEFF Research Database (Denmark)

    Foss, Kirsten; Foss, Nicolai Juul

    2005-01-01

    from resources depends on the property rights that he or she holds and on the transaction costs of exchanging, defining, and protecting them. While transaction costs are a major source of value dissipation, reducing such dissipation may create value. Implications for the RBV analysis of sustained...

  11. Resources and Transaction Costs

    DEFF Research Database (Denmark)

    Foss, Kirsten; Foss, Nicolai Juul

    2004-01-01

    resources depends on the propertyrights that she holds to those resources and on the transaction costs of exchanging,defining and protecting the relevant property rights. While transaction costs aremajor sources of value dissipation, value may be created by reducing suchdissipation. Implications for the RBV...

  12. Networks and RegionalCompetitiveness: Towards a Transaction Cost Approach of Small-Scale Cooperation

    Directory of Open Access Journals (Sweden)

    Daniel Friel

    2005-06-01

    Full Text Available A preoccupation with competition often dominates the study of governance. A focus on competition often unnecessarily precludes the possibility that regional institutions can suspend competition in certain areas and facilitate cooperation among potential rivals, thereby potentially contributing to their mutual success. In many ways companies cooperating through these types of networks have a greater degree of flexibility than firms which are forced to rely solely on hierarchies or markets for solutions to their problems. In order to fully understand how such networks work, this article first parses out differences in definitions of networks in order to understand how the type of network mentioned above actually differs from other uses of this term. Then it develops a theory of governance that goes beyond hierarchies and markets by demonstrating how this type of network can lead to reductions in transaction costs. This claim is illustrated on hand from examples of alternative forms of organization in Germany and Italy.

  13. Managerial responses to transaction cost disequilibrium in food supply chains and networks

    NARCIS (Netherlands)

    Bremmers, H.J.; Meulen, van der B.M.J.; Poppe, K.J.; Wijnands, J.H.M.

    2010-01-01

    Differences in transaction costs (i.e. costs of information processing, monitoring and control) between firms in local supply chains as well as in an international setting may have a negative impact on competitiveness and on creation of value added. Transaction cost disequilibrium is defined as a

  14. Value and Transaction Costs

    DEFF Research Database (Denmark)

    Foss, Kirsten; Foss, Nicolai Juul

    2003-01-01

    caused by transaction costs), andnew types of resources (i.e., capture and protection capabilities), clarifies the roleof contracting in the exercise of market power, and suggests that `strategizing'and `economizing' perspectives are related to a larger extent than is normallyrecognized. Refutable......AbstractWe forge linkages between the economics of property rights (Coase, Demsetz,Cheung, Barzel) and strategic management. Property rights to resources consistof the rights to consume, obtain income from, and alienate these resources.Transaction costs are the costs of exchanging, protecting...... and capturing propertyrights. We clarify the key role of transaction costs with respect to understandingvalue creation and the limitations and opportunities of strategizing relative tocompetitive forces. The economics of property rights identifies new sources ofvalue creation (i.e., reducing the dissipation...

  15. Transactional Network Platform: Applications

    Energy Technology Data Exchange (ETDEWEB)

    Katipamula, Srinivas; Lutes, Robert G.; Ngo, Hung; Underhill, Ronald M.

    2013-10-31

    In FY13, Pacific Northwest National Laboratory (PNNL) with funding from the Department of Energy’s (DOE’s) Building Technologies Office (BTO) designed, prototyped and tested a transactional network platform to support energy, operational and financial transactions between any networked entities (equipment, organizations, buildings, grid, etc.). Initially, in FY13, the concept demonstrated transactions between packaged rooftop air conditioners and heat pump units (RTUs) and the electric grid using applications or "agents" that reside on the platform, on the equipment, on a local building controller or in the Cloud. The transactional network project is a multi-lab effort with Oakridge National Laboratory (ORNL) and Lawrence Berkeley National Laboratory (LBNL) also contributing to the effort. PNNL coordinated the project and also was responsible for the development of the transactional network (TN) platform and three different applications associated with RTUs. This document describes two applications or "agents" in details, and also summarizes the platform. The TN platform details are described in another companion document.

  16. Transaction Costs For Innovations Diffusion

    Directory of Open Access Journals (Sweden)

    Ilya A. Romanov

    2012-10-01

    Full Text Available The article deals with the analysis of transaction costs of the innovations distribution. The factors, affecting the innovations diffusion in accordance with the clusters, relations, dynamics of the distribution are disclosed. Transaction costs as a result of bounded rationality of economic entities are detected. The inevitability of transaction costs as an objective phenomenon is shown. Their dependence on the quality of economic information and information uncertainty is indicated. Correlative approach for the analysis of these costs is applied. The article justifies that the reduction of transaction costs increases the efficiency of innovations.

  17. Transaction Costs in Housing Markets

    OpenAIRE

    Ommeren, van, Jos

    2008-01-01

    According to economic theory, there are no strong reasons to tax (or to subsidise) residential moves, although low levels of taxation may be potentially justified to deal with the presence of externalities and economic stability. This is in contrast to practise in most countries where governments have created strong barriers to moving (transaction taxes, rent control) which induces substantial transaction costs. Likely, the welfare losses due to these government-induced transaction costs are ...

  18. Transaction costs economics of irreplaceability: ex ante and ex post evaluation of conservation networks' vulnerability to environmental shocks.

    Science.gov (United States)

    Huusom, Henrik; Strange, Niels

    2008-04-01

    The theoretical concept, "asset specificity," is applied to real data in the context of Danish nature conservation network planning in order to produce illustrative examples of an economic measure of the network's vulnerability to exogenous shocks to the species composition. Three different measures of asset specificity are quantified from the shadow value of eliminating a key species from the individual grid cells. This represents a novel approach and a different interpretation of the term, as it is conventionally used as a qualitative indicator in the transaction cost economics literature. Apart from supplementing existing cost measures with an indicator of risk associated with investments in protected areas, this study demonstrates how the estimation and interpretation of various asset specificity measures for geographical areas may qualify policy makers' choice of policy instrument in conservation planning. This differs from the more intuitive approach of basing policy instrument choice solely on the rarity of the species in a given area.

  19. Components of the costs of controlling quality: a transaction cost economics approach.

    Science.gov (United States)

    Stiles, R A; Mick, S S

    1997-01-01

    This article identifies the components that contribute to a healthcare organization's costs in controlling quality. A central tenet of our argument is that at its core, quality is the result of a series of transactions among members of a diverse network. Transaction cost economics is applied internally to analyze intraorganizational transactions that contribute to quality control, and questions for future research are posed.

  20. Environmental taxes and transaction costs

    International Nuclear Information System (INIS)

    Vollebergh, Herman R.J.

    1994-06-01

    A well-known tax policy principle in the case of environmental bads holds that optimality would apply to a special class of environmental taxes, the so called Pigovian or effluent taxes (or fees or charges). However, an interesting paradox arises here for effluent taxes are seldom chosen in practical policies by governments. An explanation for this discrepancy is that effluent taxes are generally supposed to bring about the highest amount of transaction costs in order to enforce this kind of tax. This would be caused by the fact that usually large numbers of agents are involved if effluents are taken as the principal tax base. Unfortunately this explanation seems to boomerang for it brings about an impossibility result: effluent taxes can never be first best taxes if transaction costs are allowed. Up till now theoretical economics has not paid much attention to this problem. In contrast this essay offers an explanation for the discrepancy and it shows why the impossibility theorem is a paradox. As soon as one allows for transaction costs in welfare analysis, one not only has to acknowledge that such costs are attached to the internalization device but also to the initial status quo. Moreover, the amount of transaction costs is not independent of the tax contracts themselves, neither are the benefits of regulation through taxation. Accordingly a more general welfare assessment of questions where it is optimal to levy environmental taxes shows that first best Pigovian taxes need not be effluent taxes (even if abatement is possible), although in some cases effluent taxes might still be the best policy option from an economic perspective. 31 refs

  1. Environmental taxes and transaction costs

    Energy Technology Data Exchange (ETDEWEB)

    Vollebergh, Herman R.J. [Centre for Economic Policy OCFEB, Erasmus University Rotterdam (Netherlands)

    1994-06-01

    A well-known tax policy principle in the case of environmental bads holds that optimality would apply to a special class of environmental taxes, the so called Pigovian or effluent taxes (or fees or charges). However, an interesting paradox arises here for effluent taxes are seldom chosen in practical policies by governments. An explanation for this discrepancy is that effluent taxes are generally supposed to bring about the highest amount of transaction costs in order to enforce this kind of tax. This would be caused by the fact that usually large numbers of agents are involved if effluents are taken as the principal tax base. Unfortunately this explanation seems to boomerang for it brings about an impossibility result: effluent taxes can never be first best taxes if transaction costs are allowed. Up till now theoretical economics has not paid much attention to this problem. In contrast this essay offers an explanation for the discrepancy and it shows why the impossibility theorem is a paradox. As soon as one allows for transaction costs in welfare analysis, one not only has to acknowledge that such costs are attached to the internalization device but also to the initial status quo. Moreover, the amount of transaction costs is not independent of the tax contracts themselves, neither are the benefits of regulation through taxation. Accordingly a more general welfare assessment of questions where it is optimal to levy environmental taxes shows that first best Pigovian taxes need not be effluent taxes (even if abatement is possible), although in some cases effluent taxes might still be the best policy option from an economic perspective. 31 refs.

  2. Financial and Cost Aspects of Other Transactions

    National Research Council Canada - National Science Library

    1998-01-01

    ...." This report discusses the DoD administration of "other transactions." The second audit report will discuss the review of costs charged to the agreements by the "other transaction" participant...

  3. Anonymous Transactions in Computer Networks

    Science.gov (United States)

    Dolev, Shlomi; Kopeetsky, Marina

    We present schemes for providing anonymous transactions while privacy and anonymity are preserved, providing user anonymous authentication in distributed networks such as the Internet. We first present a practical scheme for anonymous transactions while the transaction resolution is assisted by a Trusted Authority. This practical scheme is extended to a theoretical scheme where a Trusted Authority is not involved in the transaction resolution. Given an authority that generates for each player hard to produce evidence EVID (e. g., problem instance with or without a solution) to each player, the identity of a user U is defined by the ability to prove possession of said evidence. We use Zero-Knowledge proof techniques to repeatedly identify U by providing a proof that U has evidence EVID, without revealing EVID, therefore avoiding identity theft.

  4. Entrepreneurship, Transaction Costs, and Resource Attributes

    DEFF Research Database (Denmark)

    Foss, Kirsten; Foss, Nicolai Juul

    transaction costs and property rights shape the process of entrepreneurial discovery. We provide a sketch of the mechanisms that link entrepreneurship, property rights, and transaction costs in a resource-based setting, contributing further to the attempt to take the RBV in a more dynamic direction....

  5. Simulating water markets with transaction costs

    Science.gov (United States)

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

    2014-06-01

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

  6. Entrepreneurship, transaction costs, and resource attributes

    DEFF Research Database (Denmark)

    Foss, Kirsten; Foss, Nicolai Juul

    2006-01-01

    transaction costs shape the process of entrepreneurial discovery. We provide a sketch of the mechanisms that link entrepreneurship, property rights, and transaction costs in a resource-based setting, contributing further to the attempt to take the RBV in a more dynamic direction.......This paper responds to Kim and Mahoney's "How Property Rights Economics Furthers the Resource-Based View: Resources, Transaction Costs and Entrepreneurial Discovery" (a comment on Foss and Foss, 2005). While we agree with many of their arguments, we argue that they fail to recognise how exactly...

  7. Accounting costs of transactions in real estate

    DEFF Research Database (Denmark)

    Stubkjær, Erik

    2005-01-01

    in relating theoretical conceptualizations of transaction costs to national accounting and further to the identification and quantification of actions on units of real estate. The notion of satellite accounting of the System of National Accounts is applied to the segment of society concerned with changes......The costs of transactions in real estate is of importance for households, for investors, for statistical services, for governmental and international bodies concerned with the efficient delivery of basic state functions, as well as for research. The paper takes a multi-disciplinary approach...... in real estate. The paper ends up with an estimate of the cost of a major real property transaction in Denmark....

  8. Entrepreneurship, transaction costs, and resource attributes

    DEFF Research Database (Denmark)

    Foss, Kirsten; Foss, Nicolai Juul

    2006-01-01

    This paper responds to Kim and Mahoney's "How Property Rights Economics Furthers the Resource-Based View: Resources, Transaction Costs and Entrepreneurial Discovery" (a comment on Foss and Foss, 2005). While we agree with many of their arguments, we argue that they fail to recognise how exactly t...... transaction costs shape the process of entrepreneurial discovery. We provide a sketch of the mechanisms that link entrepreneurship, property rights, and transaction costs in a resource-based setting, contributing further to the attempt to take the RBV in a more dynamic direction....

  9. Plural Governance: A Modified Transaction Cost Model

    DEFF Research Database (Denmark)

    Mols, Niels Peter; Menard, Claude

    2014-01-01

    Plural governance is a form of governance where a firm both makes and buys similar goods or services. Despite a widespread use of plural governance there are no transaction cost models of how plural governance affects performance. This paper reviews the literature about plural forms and proposes...... a model relating transaction cost and resource-based variables to the cost of the plural form. The model is then used to analyze when the plural form is efficient compared to alternative governance structures. We also use the model to discuss the strength of three plural form synergies....

  10. FIRM SIZE EFFECTS ON TRANSACTION COSTS

    NARCIS (Netherlands)

    NOOTEBOOM, B

    1993-01-01

    Associated with effects of scale, scope, experience and learning there are effects of firm size on transaction costs; in the stages of contact, contract and control. These effects are due to ''threshold costs'' in setting up contacts, contracts and governance schemes, and to differences with respect

  11. Aid Effectiveness, Transaction Costs and Conditionality in the Education Sector

    Science.gov (United States)

    Ashford, Richard; Biswas, Shampa

    2010-01-01

    The reduction of transaction costs is a commonly mentioned yet rarely elaborated goal for aid effectiveness in educational development. The casual use of the concept of transaction costs conceals which costs may be reduced, which costs are required and, indeed, what transaction costs actually are. Examining issues related to harmonizing the…

  12. Configurations of Control: A Transaction Cost Approach

    NARCIS (Netherlands)

    R.F. Speklé (Roland)

    2003-01-01

    textabstractIn this paper, I present a theory of management control based on Transaction Cost Economics. This theory seeks to integrate into a single framework a set of insights as to the nature of the organization's activities, the control problems that are inherent in these activities, and the

  13. Transaction costs of raising energy efficiency

    Energy Technology Data Exchange (ETDEWEB)

    Ostertag, K.

    2003-07-01

    Part of the debate evolves around the existence and importance of energy saving potentials to reduce CO{sub 2} emissions that may be available at negative net costs, implying that the energy cost savings of one specific technology can actually more than offset the costs of investing into this technology and of using it. This so called ''no-regret'' potential would comprise measures that from a pure economic efficiency point of view would be ''worth undertaking whether or not there are climate-related reasons for doing so''. The existence of the no-regret potential is often denied by arguing, that the economic evaluation of the energy saving potentials did not take into account transaction costs. This paper will re-examine in more detail the concept of transaction costs as it is used in the current debate on no-regret potentials (section 1). Four practical examples are presented to illustrate how transaction costs and their determinants can be identified, measured and possibly influenced (section 2). In order to link the presented cases to modelling based evaluation approaches the implications for cost evaluations of energy saving measures, especially in the context of energy system modelling, will be shown (section 3). (author)

  14. Transaction Costs for Design-Build-Finance-Maintain Contracts

    NARCIS (Netherlands)

    Favie, R.; Beelen, W.A.; Maas, G.J.; Ceric, A.; Radujkovic, M.

    2009-01-01

    This paper gives insight in how transaction costs arise and how in theory transaction costs can be reduced. A comparison between theory and practice has been made. A study of a case in the Netherlands, the Second Coentunnel showed how transaction costs in practice appear, in which stage of the

  15. Impact of transaction costs on healthcare outcomes.

    Science.gov (United States)

    Stiles, Renée A; So, Stephanie A

    2003-06-01

    This article reviews transaction cost economics to frame a discussion of how inefficiencies in healthcare delivery processes affect clinical outcomes and differentiate between inefficiencies that are tractable from those that are transitional or intractable. Recognizing and quantifying these effects improves the ability of organizations to calculate returns on investment in quality improvement, research and development and related value enhancing, but it is subject to high-risk undertakings.

  16. Accountable Care Organizations and Transaction Cost Economics.

    Science.gov (United States)

    Mick, Stephen S Farnsworth; Shay, Patrick D

    2016-12-01

    Using a Transaction Cost Economics (TCE) approach, this paper explores which organizational forms Accountable Care Organizations (ACOs) may take. A critical question about form is the amount of vertical integration that an ACO may have, a topic central to TCE. We posit that contextual factors outside and inside an ACO will produce variable transaction costs (the non-production costs of care) such that the decision to integrate vertically will derive from a comparison of these external versus internal costs, assuming reasonably rational management abilities. External costs include those arising from environmental uncertainty and complexity, small numbers bargaining, asset specificity, frequency of exchanges, and information "impactedness." Internal costs include those arising from human resource activities including hiring and staffing, training, evaluating (i.e., disciplining, appraising, or promoting), and otherwise administering programs. At the extreme, these different costs may produce either total vertical integration or little to no vertical integration with most ACOs falling in between. This essay demonstrates how TCE can be applied to the ACO organization form issue, explains TCE, considers ACO activity from the TCE perspective, and reflects on research directions that may inform TCE and facilitate ACO development. © The Author(s) 2016.

  17. Transaction cost of micro and small enterprises financing

    Directory of Open Access Journals (Sweden)

    Ghana Atma Sulistya

    2016-10-01

    Full Text Available High transaction costs become one of the obstacles for the micro and small enterprises (MSEs to access financial loans to the bank. In order to minimize the transaction costs, group lending scheme become  alternative, so that both sides are pay lower transaction costs, and MSEs are able to improve their welfare. This study aims to analyze the credit process and transaction costs incurred on the model of individuals and groups lending and to compare the magnitude of transaction costs on both models. Mixed Method Analysis is used to analyze the component of transaction costs and the magnitude of the transaction cost on both models.These results indicate there are differences in transaction costs incurred on both schemes. In the amount of the transaction costs, the overall group scheme still allows for greater compared to individual schemes and dominated by the cost of the disbursement. Even so, the transaction cost per member group is much smaller than the individual schemes.

  18. Transaction Costs in Global Supply Chains of Manufacturing Companies

    Directory of Open Access Journals (Sweden)

    Philipp Bremen

    2010-02-01

    Full Text Available Outsourcing has advanced to an important measure that is applied broadly in operations management. Nowadays, suppliers of manufacturing companies do not only provide direct material like raw material and operational supplements but offer components and advanced modules incurring many value-adding stages. Whereas in the past companies built up local supplier networks, they recently tend to search for global sources. However, not all companies reach their expectations towards the success of global sourcing projects. Important reasons for relocating manufacturing capacities back to local suppliers or in- house manufacturing are costs for unexpected coordination activities, limited flexibility and declined or fluctuating quality. The theory of Transaction Cost Economics postulates that transaction costs of the types information, communication and coordination determine the governance structure of a supply chain, i.e. market, hybrid or firm. The objective of this paper is to analyze the cause-and-effect chain of inter-firm transaction costs concerning global sourcing. The resulting qualitative model is based on explorative multiple-case study.

  19. Commercial agencies and surrogate motherhood: a transaction cost approach.

    Science.gov (United States)

    Galbraith, Mhairi; McLachlan, Hugh V; Swales, J Kim

    2005-03-01

    In this paper we investigate the legal arrangements involved in UK surrogate motherhood from a transaction-cost perspective. We outline the specific forms the transaction costs take and critically comment on the way in which the UK institutional and organisational arrangements at present adversely influence transaction costs. We then focus specifically on the potential role of surrogacy agencies and look at UK and US evidence on commercial and voluntary agencies. Policy implications follow.

  20. On Transaction-Cost Models in Continuous-Time Markets

    Directory of Open Access Journals (Sweden)

    Thomas Poufinas

    2015-04-01

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

  1. Automated Measurement and Signaling Systems for the Transactional Network

    Energy Technology Data Exchange (ETDEWEB)

    Piette, Mary Ann; Brown, Richard; Price, Phillip; Page, Janie; Granderson, Jessica; Riess, David; Czarnecki, Stephen; Ghatikar, Girish; Lanzisera, Steven

    2013-12-31

    The Transactional Network Project is a multi-lab activity funded by the US Department of Energy?s Building Technologies Office. The project team included staff from Lawrence Berkeley National Laboratory, Pacific Northwest National Laboratory and Oak Ridge National Laboratory. The team designed, prototyped and tested a transactional network (TN) platform to support energy, operational and financial transactions between any networked entities (equipment, organizations, buildings, grid, etc.). PNNL was responsible for the development of the TN platform, with agents for this platform developed by each of the three labs. LBNL contributed applications to measure the whole-building electric load response to various changes in building operations, particularly energy efficiency improvements and demand response events. We also provide a demand response signaling agent and an agent for cost savings analysis. LBNL and PNNL demonstrated actual transactions between packaged rooftop units and the electric grid using the platform and selected agents. This document describes the agents and applications developed by the LBNL team, and associated tests of the applications.

  2. Social capital and transaction costs in millet markets.

    Science.gov (United States)

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

    2018-01-01

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

  3. Social capital and transaction costs in millet markets

    Directory of Open Access Journals (Sweden)

    Damien Christophe Jacques

    2018-01-01

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

  4. Father Knows Best: Using Adam Smith to Teach Transactions Costs

    Science.gov (United States)

    Dupont, Brandon

    2014-01-01

    Adam Smith's moral philosophy can be used to introduce economics students to the important idea of transactions costs. The author provides a brief background in this article to Smith's moral philosophy and connects it to the costs of transacting in a way that fits easily into the standard principles of microeconomics classroom. By doing…

  5. Uncovering the Hidden Transaction Costs of Market Power

    DEFF Research Database (Denmark)

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

    2018-01-01

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

  6. Marketable pollution permits with uncertainty and transaction costs

    International Nuclear Information System (INIS)

    Montero, Juan-Pablo

    1998-01-01

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

  7. Emissions trading to combat climate change: The impact of scheme design on transaction costs

    OpenAIRE

    Betz, Regina

    2006-01-01

    This paper explores the likely impact of emissions trading design on transaction costs. Transaction costs include both the costs for the private sector to comply with the scheme rules and the costs of scheme administration. In economic theory transaction costs are often assumed to be zero. But transaction costs are real costs and there is no reason for treating them differently to other costs. Thus, in setting up an emissions trading scheme, transaction costs have to be taken into account in ...

  8. Transaction Costs, Property Rights, and Organizational Culture: An Exchange Perspective.

    Science.gov (United States)

    Jones, Gareth R.

    1983-01-01

    Applying the language of exchange theory, this paper analyses how organizational culture emerges out of the institutional arrangements developed to regulate the transactions between members. Transaction costs of social exchange, the characteristics and etiology of those institutional arrangements, and three ideal-typical cultural forms are…

  9. Challenges of hotel outsourcing in Ghana: A transaction cost perspective

    Directory of Open Access Journals (Sweden)

    Stephen Edem Hiamey

    2012-01-01

    Full Text Available Outsourcing is one of the many business strategies adopted by hotels due to the many opportunities that it provides. These opportunities notwithstanding, there are teething challenges with outsourcing. This study sought to find out from hotel managers in the Accra Metropolis of Ghana some of the challenges they face with outsourcing from a transaction cost perspective. Eight in-depth interviews were conducted in six hotels that outsourced. After capturing and transcribing data, a three-tier coding system was employed to group responses under thematic networks. The global themes that emerged within and across cases were inductively analysed. It was realised that poor quality of outsourced staff, lack of product knowledge by hoteliers, monopolistic tendencies by a few outsourcers, lack of commitment on the part of outsourced staff and cost involved in outsourcing were some of the challenges faced by the hotels in the Accra Metropolis of Ghana.

  10. Transaction costs of energy efficiency policy instruments

    Energy Technology Data Exchange (ETDEWEB)

    Mundaca, Luis [International Inst. for Industrial Environmental Economics, Lund Univ. (Sweden)

    2007-07-01

    This paper identifies the nature and scale of transaction costs (TCs) under different policy instruments aimed to increase energy efficiency. It analyses three cases: a) GHG-driven initiatives, b) tradable 'White Certificate' (TWC) schemes -taking the Energy Efficiency Commitment in Great Britain as a case study-, and c) energy efficiency audits given by grid companies in Denmark. The analysis focuses on TCs borne by project developers or obliged parties under these initiatives. Several sources of TCs are considered, such as search for information, persuasion of customers, negotiation with business partners, and measurement and verification (M and V) activities. Information has been obtained through a literature review, interviews with stakeholders and questionnaires. Some similarities were found as far as the nature of TCs is concerned. Relevant sources of TCs appear to be the search for information (for both potential measures and beneficiaries), negotiation and contract agreements with third parties, follow-up of measures, M and V activities and due accreditation of savings. The scale of TCs differs to a large extent, ranging from 5 % to 36 % of total audit/project costs. Figures must be taken with caution due to a number of specific factors driving their order of magnitude, including levels of uncertainty and the TCs accounting problem. Indications of economies of scale were only found for the case of GHG policy initiatives. In all, estimations are very case-specific and cannot be comparable. It is concluded that a number of endogenous and exogenous determinants affect the nature and scale of TCs for the analysed cases.

  11. Transaction costs, externalities and information technology in health care.

    Science.gov (United States)

    Ferguson, B; Keen, J

    1996-01-01

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

  12. Transaction costs and sequential bargaining in transferable discharge permit markets.

    Science.gov (United States)

    Netusil, N R; Braden, J B

    2001-03-01

    Market-type mechanisms have been introduced and are being explored for various environmental programs. Several existing programs, however, have not attained the cost savings that were initially projected. Modeling that acknowledges the role of transactions costs and the discrete, bilateral, and sequential manner in which trades are executed should provide a more realistic basis for calculating potential cost savings. This paper presents empirical evidence on potential cost savings by examining a market for the abatement of sediment from farmland. Empirical results based on a market simulation model find no statistically significant change in mean abatement costs under several transaction cost levels when contracts are randomly executed. An alternative method of contract execution, gain-ranked, yields similar results. At the highest transaction cost level studied, trading reduces the total cost of compliance relative to a uniform standard that reflects current regulations.

  13. Third sector organizations in rural development: a transaction cost perspective

    Directory of Open Access Journals (Sweden)

    V. VALENTINOV

    2008-12-01

    Full Text Available In many parts of the world, rural development is supported by third sector organizations, such as nongovernmental organizations, farmer associations, and cooperatives. This essay develops a transaction cost explanation of these organizations’ role in rural areas. Since the traditional transaction cost theory is concerned with the choice of governance mechanisms within the for-profit sector, this essay adopts an alternative conceptualization of the notion of transaction cost by building on the theory of the division of labor. This theory regards transaction cost as a constraint on the division of labor causing the replacement of exchange with self-sufficiency. The proposed transaction cost explanation of rural third sector organizations consists of two arguments: 1 third sector organizations embody partial reliance on self-sufficiency; and 2 rural areas exhibit rurality-specific transaction cost acting as a constraint on the division of labor and thus creating a niche for third sector organizations. The essay concludes with suggesting a research program on developing an economic theory of the rural third sector.;

  14. A TRANSACTION COST ANALYSIS OF MICROPAYMENTS IN MOBILE COMMERCE

    Directory of Open Access Journals (Sweden)

    Daniel Gille

    2012-07-01

    Full Text Available Personalised, location-related and differentiated services in the mobile digitaleconomy create a demand for suitable pricing models. In the case of disaggregated“microservices” (e.g., small digitalized information or service units, as well as for theacquisition of low-value physical goods, the deployment of micropayments seemsappropriate.This paper analyzes the economic efficiency of marginal transaction amounts in the mcommercearea by applying the theoretical approach of transaction cost economics. Forthis purpose, a separation of technical and cognitive transaction costs is applied. Theinfluence of selected determinants such as specifity, uncertainty and bounded rationality ontransaction costs in mobile commerce micropayments is analyzed. The result is a morelikely application of micropayments for physical goods such as beverages or parking ticketsthan for digital goods and services, given the theoretical assumptions of the model. Inaddition, indicators for a significant above-zero lower limit of transaction amounts inmobile commerce are presented.

  15. Reconsidering Money: Monetary Exchange with Additive Transaction Costs

    DEFF Research Database (Denmark)

    Schröder, Philipp

    2001-01-01

    Under the assumption of purely additive transaction costs in exchange, the literature on money has a standard example of direct exchange dominating indirect (monetary) exchange. From here it is frequently concluded that subadditive costs (e.g. search costs) must be examined in order to explain...... money. In contrast, this paper presents an additive transaction costs model in which the mere absence of double coincidences of wants suffices to motivate monetary exchange. Furthermore it is found that not all commodity moneys, that are collectively desirable, qualify for the core, but that all fiat...

  16. Determinants of Transactions Costs in the Brazilian Stock Market

    Directory of Open Access Journals (Sweden)

    Antonio Zoratto Sanvicente

    2012-06-01

    Full Text Available The Lesmond (2005 method for estimating transactions costs, based on a limited-dependent variable model, is used in order to test for the significance of plausible explanations for cross sectional cost differences. Variables such as liquidity, volatility, firm size, quality of corporate governance and participation in ADR programs are considered, in addition to the possible impact of the 2008 crisis. Daily data for 1999-2009 are used, covering at least 250 securities each year. The average total transaction cost declined from 2.95% in 1999 to 1.22% in 2009. Stock volatility and quality of corporate governance appear to be the most relevant factors associated with the measure of transactions cost.

  17. Allocation of fixed transmission cost to wheeling transactions by cooperative game theory

    International Nuclear Information System (INIS)

    Tsukamoto, Yukitoki; Iyoda, Isao

    1996-01-01

    This paper describes a methodology to allocate the cost of transmission network facilities to wheeling transactions in decentralized power systems. The authors propose that the responsibility placed on transmission facilities involved in each transaction be according to the transmission usage pattern. Their proposal incorporates MW-mile method and considers economies of scale of transmission network facilities. The authors also incorporate a nucleolus scheme in the cooperative game theory to deal with matters of conflict. The applicability of their method is demonstrated in a numerical example

  18. Listening to Whispers of Ripple: Linking Wallets and Deanonymizing Transactions in the Ripple Network

    OpenAIRE

    Moreno-Sanchez Pedro; Zafar Muhammad Bilal; Kate Aniket

    2016-01-01

    The decentralized I owe you (IOU) transaction network Ripple is gaining prominence as a fast, low-cost and efficient method for performing same and cross-currency payments. Ripple keeps track of IOU credit its users have granted to their business partners or friends, and settles transactions between two connected Ripple wallets by appropriately changing credit values on the connecting paths. Similar to cryptocurrencies such as Bitcoin, while the ownership of the wallets is implicitly pseudony...

  19. Asset Prices and Trading Volume under Fixed Transactions Costs.

    Science.gov (United States)

    Lo, Andrew W.; Mamaysky, Harry; Wang, Jiang

    2004-01-01

    We propose a dynamic equilibrium model of asset prices and trading volume when agents face fixed transactions costs. We show that even small fixed costs can give rise to large "no-trade" regions for each agent's optimal trading policy. The inability to trade more frequently reduces the agents' asset demand and in equilibrium gives rise to a…

  20. 1991 transactions of the American Association of Cost Engineers

    International Nuclear Information System (INIS)

    Humphreys, B.

    1991-01-01

    This book contains the proceeding of the 1991 transactions of the AACE under the following subject: Power plant dismantling cost studies; Understand the costs and schedule of hydroelectric projects; Environmental project control- A government perspective; and Nuclear hazardous waste control management

  1. The transaction costs driving captive power generation: Evidence from India

    International Nuclear Information System (INIS)

    Ghosh, Ranjan; Kathuria, Vinish

    2014-01-01

    The 2003 Indian Electricity Act incentivizes captive power production through open access in an attempt to harness all sources of generation. Yet, we observe that only some firms self-generate while others do not. In this paper we give a transaction cost explanation for such divergent behavior. Using a primary survey of 107 firms from India, we construct a distinct variable to measure the transaction-specificity of electricity use. The ‘make or buy’ decision is then econometrically tested using probit model. Results are highly responsive to transaction-specificity and the likelihood of captive power generation is positively related to it. At the industrial level, this explains why food and chemical firms are more likely to make their own electricity. Since the burden of poor grid supply is highest on smaller sized and high transaction-specific firms, the grid access policies need to account for firm-level characteristics if government wants to incentivize captive power generation. - Highlights: • We analyze why some firms opt for captive power generation while others do not. • We examine the role of transaction costs in this decision making using probit model. • Unique data from a primary survey of manufacturing firms in Andhra Pradesh, India. • Transaction-specificity significantly determines who installs captive power plant (CPP). • Firm-level characteristics crucial in policies incentivizing captive generation

  2. COULD SOCIOECONOMIC METABOLISM BE MOLDED BY TRANSACTION COSTS?

    Directory of Open Access Journals (Sweden)

    RALUCA I. IORGULESCU

    2017-06-01

    Full Text Available Two key issues that shape the economic development and growth of a country are the independence and effectiveness of the judicial system and the level of bureaucracy. The theory of transaction costs, developed, among others, by Douglass C. North, explores both. Increasing the independence and effectiveness of the judicial system reduces corruption and protects private property and economic freedom while reducing bureaucracy is absolutely necessary to increase a country's competitiveness by lowering the cost and increasing the speed of transactions. This paper introduces the transaction costs approach, the concept of ‘socioeconomic/societal metabolism’ and takes advantage of the Multi-Scale Integrated Analysis of Societal and Ecosystem Metabolism (MuSIASEM to examine how the ‘socioeconomic/societal metabolism’ could be impacted.

  3. The long memory and the transaction cost in financial markets

    Science.gov (United States)

    Li, Daye; Nishimura, Yusaku; Men, Ming

    2016-01-01

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

  4. VOLTTRON Lite: Integration Platform for the Transactional Network

    Energy Technology Data Exchange (ETDEWEB)

    Haack, Jereme N.; Katipamula, Srinivas; Akyol, Bora A.; Lutes, Robert G.

    2013-10-31

    In FY13, Pacific Northwest National Laboratory (PNNL) with funding from the Department of Energy’s (DOE’s) Building Technologies Office (BTO) designed, prototyped and tested a transactional network platform. The platform is intended to support energy, operational and financial transactions between any networked entities (equipment, organizations, buildings, grid, etc.). Initially, in FY13, the concept demonstrated transactions between packaged rooftop units (RTUs) and the electric grid using applications or “agents” that reside on the platform, on the equipment, on local building controller or in the Cloud. This document describes the core of the transactional network platform, the Volttron Lite™ software and associated services hosted on the platform. Future enhancements are also discussed. The appendix of the document provides examples of how to use the various services hosted on the platform.

  5. Towards a Transaction Cost Theory of Management Control

    NARCIS (Netherlands)

    R.F. Speklé (Roland)

    2002-01-01

    textabstractIn this paper, I present and discuss a theory of management control based on Transaction Cost Economics. This theory specifies the composition of various archetypal control structures, and links these to their respective habitat. These are: (1) arm's length control; (2) machine control;

  6. Transaction Cost Of Borrowing Among Small Scale Farmers In ...

    African Journals Online (AJOL)

    The study examined transaction cost of borrowing among small scale farmers in Rivers State, Nigeria. Data was collected with the aid of structured questionnaire from 109 randomly selected small scale farmers in the study area. Data analysis was by frequency, percentage and mean. It was found that farmers mostly ...

  7. Distance, Transaction Costs, and Preferences in European Trade

    DEFF Research Database (Denmark)

    Kokko, Ari; Tingvall, Patrik Gustavsson

    2014-01-01

    Beckerman (1956) and Linder (1961) have suggested that international trade is not determined by supply-side factors alone—perceptions about foreign countries and country preferences matter. We explore the relation between exports, cultural distance, and country preferences in Europe. The results ...... channels, both indirectly through transaction costs and more directly, as countries seem to prefer some trade partners before others....

  8. Testing Affine Term Structure Models in Case of Transaction Costs

    NARCIS (Netherlands)

    Driessen, J.J.A.G.; Melenberg, B.; Nijman, T.E.

    1999-01-01

    In this paper we empirically analyze the impact of transaction costs on the performance of affine interest rate models. We test the implied (no arbitrage) Euler restrictions, and we calculate the specification error bound of Hansen and Jagannathan to measure the extent to which a model is

  9. Farmers' choice of cattle marketing channels under transaction cost ...

    African Journals Online (AJOL)

    The theoretical predictions of transaction cost economics were tested based on primary data collected from 230 cattle farm households in 13 communities of the Okhahlamba Local Municipality. The results of a multinomial logit regression revealed some unique insights. They showed that the probability of selling at auction ...

  10. Transaction cost determinants of credit governance structures of ...

    African Journals Online (AJOL)

    This paper explores transaction cost determinants of credit governance structures (CGS) of commercial banks in Tanzania. Descriptive statistics, linear regression model, binary and multinomial logistic regression models were employed for analysis. Findings revealed four modes of credit governance structures that are ...

  11. Vegetables procurement by Asian supermarkets: A transaction cost approach

    NARCIS (Netherlands)

    Ruben, R.; Boselie, D.M.; Hualiang, L.

    2007-01-01

    Purpose - The paper seeks to understand the conditions that motivate Asian supermarkets' choices for vegetable sourcing through wholesale procurement or preferred supplier systems. Design/methodology/approach - Insights from transaction cost theory are used to analyze the evolution of fresh produce

  12. Vegetables procurement by Asian supermarkets: a transaction cost approach

    NARCIS (Netherlands)

    Ruben, R.; Boselie, D.M.; Lu Hualiang,

    2007-01-01

    Purpose - The paper seeks to understand the conditions that motivate Asian supermarkets' choices for vegetable sourcing through wholesale procurement or preferred supplier systems. Design/methodology/approach - Insights from transaction cost theory are used to analyze the evolution of fresh produce

  13. New Evidence of the Effect of Transaction Costs on Residential Mobility

    NARCIS (Netherlands)

    Ommeren, van Jos; Leuvensteijn, van Michiel

    2002-01-01

    Transaction costs have attracted considerably attention in the theoretical literature on residential mobility. In many European countries, these costs mainly consist of ad-valorem transaction costs. In the current paper, we demonstrate empirically for the Netherlands that the transaction costs have

  14. Allocation and management issues in multiple-transaction open access transmission networks

    Science.gov (United States)

    Tao, Shu

    -flow basis. It also proposes a congestion relief scheme that removes the congestion attributed to each transaction on the network in a least-cost manner to the IGO and determines the appropriate transmission charges to each transaction for its transmission usage. The thesis provides a compendium of problems that are natural extensions of the research results reported here and appear to be good candidates for future work.

  15. Leveraging Technology to Reduce Patient Transaction Costs.

    Science.gov (United States)

    Edlow, Richard C

    2015-01-01

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

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

    NARCIS (Netherlands)

    Zant, W.

    2013-01-01

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

  17. 7 CFR 1927.53 - Costs of title clearance and closing of transactions.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 12 2010-01-01 2010-01-01 false Costs of title clearance and closing of transactions... and Loan Closing § 1927.53 Costs of title clearance and closing of transactions. The borrower or the... payment of all costs of title clearance and closing of the transaction and will arrange for payment before...

  18. Continuous time Black-Scholes equation with transaction costs in subdiffusive fractional Brownian motion regime

    Science.gov (United States)

    Wang, Jun; Liang, Jin-Rong; Lv, Long-Jin; Qiu, Wei-Yuan; Ren, Fu-Yao

    2012-02-01

    In this paper, we study the problem of continuous time option pricing with transaction costs by using the homogeneous subdiffusive fractional Brownian motion (HFBM) Z(t)=X(Sα(t)), 0transaction costs of replicating strategies. We also give the total transaction costs.

  19. Supply Chain-Wide Consequences of Transaction Risks and Their Contractual Solutions: Towards an Extended Transaction Cost Economics Framework

    NARCIS (Netherlands)

    Wever, M.; Wognum, P.M.; Trienekens, J.H.; Omta, S.W.F.

    2012-01-01

    How supply chain actors manage their exposure to both supply- and demand-side risks is a topic that has been insufficiently examined within the transaction cost economics (TCE) literature. TCE studies often only examine transaction risks in the context of bilateral exchanges. This study aims to

  20. THREE APPLICATIONS OF TRANSACTION COST ECONOMICS IN ROMANIA

    OpenAIRE

    Radu A. Păun

    2008-01-01

    We begin by investigating the use of complex contracts in Romania. A transparent transaction cost economics (TCE) model generates the hypothesis that buyer and seller relationship-specific investments have opposite effects on contract complexity. Our analysis counters the problem of unobserved heterogeneity, generates estimates of the effects of specific investments that are opposite in sign on opposite sides of the agreement, and explains the patterns in the biases of ordinary least-squares ...

  1. A Transactions Cost Economics (TCE) Approach to Optimal Contract Type

    OpenAIRE

    Franck, Raymond; Melese, Francois; Dillard, John

    2006-01-01

    Proceedings Paper (for Acquisition Research Program) This study examines defense acquisition through the new lens of Transaction Cost Economics (TCE). TCE is an emergent field in economics that has multiple applications to defense acquisition practices. TCE''s original focus was to guide ''make-or-buy?'' decisions that define the boundaries of a firm. This study reviews insights afforded by TCE that impact government outsourcing (''buy'' decisions), paying special attention to defense pro...

  2. Austrian Economics and the Transaction Cost Approach to the Firm

    Directory of Open Access Journals (Sweden)

    Nicolai J. Foss

    2009-10-01

    Full Text Available As the transaction cost theory of the firm was taking shape in the 1970s, another important movement in economics was emerging: a revival of the ‘Austrian’ tradition in economic theory associated with such economists as Ludwig von Mises and F. A. Hayek (1973; Dolan, 1976; Spadaro, 1978. As Oliver Williamson has pointed out, Austrian economics is among the diverse sources for transaction cost economics. In particular, Williamson frequently cites Hayek (e.g., Williamson, 1985, p. 8; 1991, p. 162, particularly Hayek’s emphasis on adaptation as a key problem of economic organisation (Hayek, 1945. Following Williamson’s lead, a reference to Hayek’s ‘The Use of Knowledge in Society’ (Hayek, 1945 has become almost mandatory in discussions of economic organisation (e.g., Ricketts, 1987, p. 59; Milgrom and Roberts, 1992, p. 56; Douma and Schreuder 1991, p. 9. However, there are many other potential links between Austrian and transaction cost economics that have not been explored closely and exploited.This article argues that characteristically Austrian ideas about property, entrepreneurship, economic calculation, tacit knowledge, and the temporal structure of capital have important implications for theories of economic organisation, transaction cost economics in particular. Austrian economists have not, however, devoted substantial attention to the theory of the firm, preferring to focus on business-cycle theory, welfare economics, political economy, comparative economic systems, and other areas. Until recently the theory of the firm was an almost completely neglected area in Austrian economics, but over the last decade, a small Austrian literature on the firm has emerged. While these works cover a wide variety of theoretical and applied topics, their authors share the view that Austrian insights have something to offer students of firm organisation.

  3. Two-Stage Fuzzy Portfolio Selection Problem with Transaction Costs

    OpenAIRE

    Chen, Yanju; Wang, Ye

    2015-01-01

    This paper studies a two-period portfolio selection problem. The problem is formulated as a two-stage fuzzy portfolio selection model with transaction costs, in which the future returns of risky security are characterized by possibility distributions. The objective of the proposed model is to achieve the maximum utility in terms of the expected value and variance of the final wealth. Given the first-stage decision vector and a realization of fuzzy return, the optimal value expression of the s...

  4. Transaction Costs in Collective Waste Recovery Systems in the EU

    OpenAIRE

    Nozharov, Shteryo

    2018-01-01

    The study aims to identify the institutional flaws of the current EU waste management model by analysing the economic model of extended producer responsibility and collective waste management systems and to create a model for measuring the transaction costs borne by waste recovery organizations. The model was approbated by analysing the Bulgarian collective waste management systems that have been complying with the EU legislation for the last 10 years. The analysis focuses on waste oils becau...

  5. Institutional failures and transaction costs of Bulgarian private research institutes

    OpenAIRE

    Nozharov, Shteryo

    2016-01-01

    The paper analyses the reasons for poor performance of private research institutes in Bulgaria. In this regard the Institutional Economics methods are used. A connection between smart growth policy goals and Bulgarian membership in EU is made. The gaps in the institutional environment are identified as well as measures for their elimination are proposed. The main accent of the study is put on the identification of transaction costs, arisen as a result of the failures of the institutional envi...

  6. Challenges of hotel outsourcing in Ghana: A transaction cost perspective

    OpenAIRE

    Stephen Edem Hiamey

    2012-01-01

    Outsourcing is one of the many business strategies adopted by hotels due to the many opportunities that it provides. These opportunities notwithstanding, there are teething challenges with outsourcing. This study sought to find out from hotel managers in the Accra Metropolis of Ghana some of the challenges they face with outsourcing from a transaction cost perspective. Eight in-depth interviews were conducted in six hotels that outsourced. After capturing and transcribing ...

  7. A transaction cost approach to strategic alliances in telecommunications

    OpenAIRE

    Camino Blasco, David; Trecu, Juan Ramón

    1996-01-01

    An emerging form of international business organization is the strategic alliance, a species of joint-venture in which an innovator of technology contracts with another firm for the joint exploitation of technology and other assets across a number of national territories. This work will examine international alliances, applying insights from both the transaction cost and foreign investment theories to the telecommunications service industry and asking whether these cooperation agreements are ...

  8. [Pay for performance explained by transaction costs theory].

    Science.gov (United States)

    Gorbaneff, Yuri; Cortes, Ariel; Torres, Sergio; Yepes, Francisco

    2011-01-01

    To evaluate the ability of transaction costs theory to explain incentives in the health care chain. We performed a case study of CPS, a health insurance company in Bogota (Colombia), which preferred not to publish its name. CPS moves in the environment of high transaction costs and uses the hybrid form of governance at the outpatient level. Incentive intensity, administrative control and the contract all agree with the theory. At the hospital level, the market is used, despite greater uncertainty. Because of the discrete form (1.0) of the incentives and the absence of administrative control, it is difficult for CPS to relate payment to hospital performance. Transaction costs theory explains the configuration of incentives. Another contribution made by this theory to the literature is the criterion to differentiate between the market and the hybrid. We propose that the market uses discrete-type (1.0) incentives, while the hybrid uses continuous, commission-like incentives. Copyright © 2011 SESPAS. Published by Elsevier Espana. All rights reserved.

  9. Linear versus quadratic portfolio optimization model with transaction cost

    Science.gov (United States)

    Razak, Norhidayah Bt Ab; Kamil, Karmila Hanim; Elias, Siti Masitah

    2014-06-01

    Optimization model is introduced to become one of the decision making tools in investment. Hence, it is always a big challenge for investors to select the best model that could fulfill their goal in investment with respect to risk and return. In this paper we aims to discuss and compare the portfolio allocation and performance generated by quadratic and linear portfolio optimization models namely of Markowitz and Maximin model respectively. The application of these models has been proven to be significant and popular among others. However transaction cost has been debated as one of the important aspects that should be considered for portfolio reallocation as portfolio return could be significantly reduced when transaction cost is taken into consideration. Therefore, recognizing the importance to consider transaction cost value when calculating portfolio' return, we formulate this paper by using data from Shariah compliant securities listed in Bursa Malaysia. It is expected that, results from this paper will effectively justify the advantage of one model to another and shed some lights in quest to find the best decision making tools in investment for individual investors.

  10. Transaction costs of raising energy efficiency. Working paper

    Energy Technology Data Exchange (ETDEWEB)

    Ostertag, K. [Fraunhofer-Institut fuer Systemtechnik und Innovationsforschung (ISI), Karlsruhe (Germany); Centre International de Recherche sur l' Environnement et le Developpement (CIRED), 94 - Nogent sur Marne (France)

    1999-05-01

    In the face of the uncertainties concerning the importance and the actual impacts of anthropogeneous climate change the extent to which measures should be adopted to avoid greenhouse gas emissions (GHG) already today and in the near future is highly controversial. More specifically, part of the debate evolves around the existence and importance of energy saving potentials to reduce CO{sub 2} emissions that may be available at negative net costs, implying that the energy cost savings of one specific technology can actually more than offset the costs of investing into this technology and of using it. This so called 'no-regret' potential would comprise measures that from a pure economic efficiency point of view would be 'worth undertaking whether or not there are climate-related reasons for doing so' (Bruce et al. 1996, p. 271). The existence of the no-regret potential is often denied by arguing, that the economic evaluation of the energy saving potentials did not take into account transaction costs (Grubb et al. 1993). This paper will examine in more detail the concept of transaction costs as it is used in the current debate on no-regret potentials (section 1). Four practical examples are presented to illustrate how transaction costs and their determinants can be identified, measured and possibly influenced (section 2). In order to link the presented cases to modelling based evaluation approaches the implications for cost evaluations of energy saving measures especially in the context of energy system modelling will be shown (section 3). (orig.)

  11. Fresh Snack Food Channel Evaluation Model for Integrating Customers’ Perception of Transaction Costs in Taiwan

    Directory of Open Access Journals (Sweden)

    Po-Yu Chen

    2017-01-01

    Full Text Available The primary purpose of this study was to explore how food dealers develop methods that facilitate transaction efficiency and how they select the optimal food channels. This study establishes a model according to the impact of transaction cost factors on consumers’ decision-making regarding purchase of fresh snack foods. Using fresh snack foods in Taiwan as an example, this study employed a fuzzy analytic network process to solve decision-making problems with multiple criteria by comparing the interaction between each transaction cost factor to obtain the factor weightings as well as the weightings of the transaction costs at each decision stage. This study found that food safety assurance and providing sufficient nutrition information were the most essential topics; thus, the optimal choice for snack food producers is to develop retail outlets. This study construction process proposed is innovative and operational, and the results may provide a reference for snack food dealers or microfood enterprises to assist them in developing their food channels.

  12. TRANSACTION COSTS AND MARKET IMPACT IN INVESTMENT MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Marek Kociński

    2015-05-01

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

  13. Who needs the assumption of opportunistic behavior? Transaction cost economics does not!

    DEFF Research Database (Denmark)

    Koch, Carsten Allan

    2000-01-01

    The assumption of opportunistic behavior, familiar from transaction cost economics, has been and remains highly controversial. But opportunistic behavior, albeit undoubtedly an extremely important form of motivation, is not a necessary condition for the contractual problems studied by transaction...

  14. Access regulation in the next generation access network environment: A comparative study of Hong Kong and Singapore from the transaction cost economics perspectives

    OpenAIRE

    Ho, Au Man

    2012-01-01

    Hong Kong and Singapore have adopted two different models in the regulation of the next generation access (NGA) networks. In Hong Kong, the government has decided that access regulation will not be applied to fibre-based access networks and its strategy will be to rely on facilities-based competition to promote investment in the NGA networks. Singapore, on the other hand, has promoted access/services-based competition over a next generation broadband infrastructure subsidised by public fundin...

  15. Health care development: integrating transaction cost theory with social support theory.

    Science.gov (United States)

    Hajli, M Nick; Shanmugam, Mohana; Hajli, Ali; Khani, Amir Hossein; Wang, Yichuan

    2014-07-28

    The emergence of Web 2.0 technologies has already been influential in many industries, and Web 2.0 applications are now beginning to have an impact on health care. These new technologies offer a promising approach for shaping the future of modern health care, with the potential for opening up new opportunities for the health care industry as it struggles to deal with challenges including the need to cut costs, the increasing demand for health services and the increasing cost of medical technology. Social media such as social networking sites are attracting more individuals to online health communities, contributing to an increase in the productivity of modern health care and reducing transaction costs. This study therefore examines the potential effect of social technologies, particularly social media, on health care development by adopting a social support/transaction cost perspective. Viewed through the lens of Information Systems, social support and transaction cost theories indicate that social media, particularly online health communities, positively support health care development. The results show that individuals join online health communities to share and receive social support, and these social interactions provide both informational and emotional support.

  16. Network Constrained Transactive Control for Electric Vehicles Integration

    DEFF Research Database (Denmark)

    Hu, Junjie; Yang, Guangya; Bindner, Henrik W.

    2015-01-01

    . This paper applies the transactive control concept to integrate electric vehicles into the power distribution system with the purpose of minimizing the charging cost of electric vehicles as well as preventing grid congestions and voltage violations. A hierarchical EV management system is proposed where three...

  17. Minimum cost connection networks

    DEFF Research Database (Denmark)

    Hougaard, Jens Leth; Tvede, Mich

    2015-01-01

    In the present paper we consider the allocation of costs in connection networks. Agents have connection demands in form of pairs of locations they want to have connected. Connections between locations are costly to build. The problem is to allocate costs of networks satisfying all connection...... demands. We use a few axioms to characterize allocation rules that truthfully implement cost minimizing networks satisfying all connection demands in a game where: (1) a central planner announces an allocation rule and a cost estimation rule; (2) every agent reports her own connection demand as well...... as all connection costs; (3) the central planner selects a cost minimizing network satisfying reported connection demands based on the estimated costs; and, (4) the planner allocates the true costs of the selected network. It turns out that an allocation rule satisfies the axioms if and only if relative...

  18. FACTORS INFLUENCING SMALLHOLDERS' TRANSACTION COST OF BORROWING FROM THE NIGERIAN AGRICULTURAL AND COOPERATIVE BANK

    OpenAIRE

    Olomola, A.S.

    1992-01-01

    In Nigeria, small-scale farmers are reluctant to borrow from formal institutions because of high transaction costs. This paper examines the components and determinants of borrowing transaction costs and argues that unless the loan administrative strategies are simplified and channels of loan delivery diversified, farmers would continue to find it difficult to use formal loans. Borrowing transaction costs are defined as the administrative expenses and transportation cost incurred by borrowers ...

  19. Traffic Rules in Electronic Financial Transactions (EFT Networks

    Directory of Open Access Journals (Sweden)

    Vedran Batoš

    2002-01-01

    Full Text Available This paper presents the traffic rules in the EFT (ElectronicFinancial Transactions networks, based on the implementationof the solution called Gold-Net developed and implementedby Euronet Worldwide Inc. Following the traffic rulesin EFT networks, out of its worldwide experience, Gold-Netevolved a comprehensive and expandable EFT network solutiondesigned to meet an institution's needs today and in the future.It is an ITM (Integrated Transaction Management solution,modular and expandable, and consists of a comprehensiveEFT software modules with ATM and POS driving capabilities.The combination of ATM management and the onlineconnection form the intercept processing control module. Asthe marketplace grows, this solution ensures that an ente1prisemay position itself for future growth and expanded service offerings.

  20. Adaptive salinity management in the Murray-Darling Basin: a transaction cost study

    Science.gov (United States)

    Loch, A. J.

    2017-12-01

    Transaction costs hinder or promote effective management of common good resource intertemporal externalities. Appropriate policy choices may reduce externalities and improve social welfare, and transaction cost analysis can help to evaluate policy choices. However, without measurement of relevant transaction costs such policy evaluation remains challenging. This article uses a time series dataset of salinity management program to test theory aimed at transaction cost-based policy evaluation and adaptive resource management over a period of 30 years worth of data. We identify peaks and troughs in transaction costs over time, lag-effects in program expenditure, and calculate the decay in transaction cost impacts. We conclude that Australian salinity management programs are achieving flexible institutional outcomes and effective policy arrangements with long-term benefits. Proposed changes to the program moving forward add weight to our assertions of adaptive strategies, and illustrate the value of the novel data-driven tracnsaction cost analysis approach for other jurisdictions.

  1. Emissions trading and transaction costs : analyzing the flaws in the discussion

    NARCIS (Netherlands)

    Woerdman, E.

    Although emissions trading lowers the costs of climate change mitigation, transaction costs (e.g. to find a trading partner) may reduce its cost-effectiveness. Some economists claim that transaction costs for Joint Implementation (JI) and Clean Development Mechanism (CDM) projects will be higher

  2. Analysis of Transaction Costs in Logistics and the Methodologies for Their Information Reflection for Automotive Companies

    Directory of Open Access Journals (Sweden)

    Ol’ga Evgen’evna Kovrizhnykh

    2016-12-01

    Full Text Available Transaction costs emerge in different types of logistics activities and influence the material flow and the accompanying financial and information flows; due to this fact, the information support and assessment are important tasks for the enterprise. The paper analyzes transaction costs in logistics for automotive manufacturers; according to the analysis, the level of these costs in any functional area of “logistics supply” ranges from 1.5 to 20%. These are only the official figures of transaction costs of enterprises that do not take into consideration implicit costs. Despite the growing interest in transaction costs in logistics in the latest fifteen years, this topic is covered rather poorly in Russian literature; the definition of “transaction costs” is unclear, there is no technique of their information reflection and assessment. We have developed the methods for information reflection of transaction costs that can be used by automotive enterprises. Each enterprise will have an opportunity to choose the most suitable technique for information reflection of transaction costs or to compare the level of transaction costs when using different techniques. Application of techniques for information reflection of transaction costs allows the enterprises to increase profits by optimizing and reducing costs and using their assets more effectively, to identify possible ways to improve cost parameters of their performance, to improve their efficiency and productivity; to cut out unnecessary or duplicate activities, to optimize the number of staff involved in a particular activity

  3. Managing transaction risks in interdependent supply chains: an extended transaction cost economics perspective

    NARCIS (Netherlands)

    Wever, M.; Wognum, P.M.; Trienekens, J.H.; Omta, S.W.F.

    2012-01-01

    The present study examines the management of transaction risks in supply chains. Risk management studies often ignore the wider supply chain context in which individual transactions take place. However, risk management strategies which are suitable to use when only a single transaction is considered

  4. Minimum cost connection networks

    DEFF Research Database (Denmark)

    Hougaard, Jens Leth; Tvede, Mich

    In the present paper we consider the allocation of cost in connection networks. Agents have connection demands in form of pairs of locations they want to be connected. Connections between locations are costly to build. The problem is to allocate costs of networks satisfying all connection demands...

  5. SPECIFICITY OF TRANSACTION COSTS IN THE SPHERE OF EDUCATION IN THE EMERGING KNOWLEDGE ECONOMY

    Directory of Open Access Journals (Sweden)

    A. G. Furin

    2014-01-01

    Full Text Available The paper considers the specifics of transaction costs in the sphere of education. Comparative analysis of the theoretical framework of the research devoted to the theory of transaction costs, allowed us to determine the causes and types of transaction costs in the educational environment. On the basis of the existing conceptual framework and specifics of the education system the paper formulates the definition of transaction costs and their classification is given on the basis of the principle of legality. The conclusion is that the minimization of the «illegal» costs is possible through the creation of information management system within the education cluster.

  6. Tapping Transaction Costs to Forecast Acquisition Cost Breaches

    Science.gov (United States)

    2016-01-01

    experience a cost breach. In our medical example, we could use survival analysis to identify risk fac- tors, such as obesity , that might indicate a greater... exogenous variables on the probability of a dichotomous outcome, such as whether or not a cost breach occurs in any given program year. Logit is

  7. A Model for Understanding the Relationship Between Transaction Costs and Acquisition Cost Breaches

    Science.gov (United States)

    2014-04-30

    an assistant professor and received a BA in anthropology and a BA and MA in economics (2004) and a PhD in political economy and public policy (2008...between transaction costs and cost overruns. Biggs (2013) showed that as the EAC SE/PM cost ratio rises there is a statistically significant corresponding...Estimate at Completion ( EAC ) is the sum of the ACWP and the estimate to completion (ETC) for the remaining work. The ETC can be calculated using the cost

  8. Why are social network transactions important? Evidence based on the concentration of key suppliers and customers in China

    Directory of Open Access Journals (Sweden)

    Xiang Kong

    2011-09-01

    Full Text Available Based on a new institutional economy framework, this study examines the formation and economic consequences of social networks (guanxi from the perspective of key suppliers and customers in China. Results show that commercial activities which depend on networks are determined by the institutional environment. For example, companies that have lower accumulated social capital (less trust among people and are subject to more government invention depend more on social network transactions than on the market. In addition, this study shows that network transactions can provide benefits to firms, especially in weak institutional environments. Networks can reduce transaction costs by reducing information asymmetry, i.e., increased network dependence is associated with lower credit costs and lower advertising and sales costs. Networks can also reduce the effect of industry shocks, especially negative shocks, by creating a bonding mechanism. This study contributes to our understanding of social networks in emerging markets by providing evidence on network transactions with key suppliers and customers and their influence on firms’ accounting behavior.

  9. Competition Analysis of the Multimedia Market and Market Entry illustrated of network companies. A theoretical analysis with the five forces approach and the transaction costs approach

    OpenAIRE

    Kürble, Peter

    2010-01-01

    Two of the main issues for firms concerning to the creation of new markets are: whether or not be a part of this process and if so, how to participate. This paper deals with this questions concerning to the development of multimedia markets for private households on the one side and networking companies on the other side. The first question will be answered by using the "five forces"-approach for the market for movies and the broadcasting market. The second question will be discussed by the t...

  10. Optimal Investment Under Transaction Costs: A Threshold Rebalanced Portfolio Approach

    Science.gov (United States)

    Tunc, Sait; Donmez, Mehmet Ali; Kozat, Suleyman Serdar

    2013-06-01

    We study optimal investment in a financial market having a finite number of assets from a signal processing perspective. We investigate how an investor should distribute capital over these assets and when he should reallocate the distribution of the funds over these assets to maximize the cumulative wealth over any investment period. In particular, we introduce a portfolio selection algorithm that maximizes the expected cumulative wealth in i.i.d. two-asset discrete-time markets where the market levies proportional transaction costs in buying and selling stocks. We achieve this using "threshold rebalanced portfolios", where trading occurs only if the portfolio breaches certain thresholds. Under the assumption that the relative price sequences have log-normal distribution from the Black-Scholes model, we evaluate the expected wealth under proportional transaction costs and find the threshold rebalanced portfolio that achieves the maximal expected cumulative wealth over any investment period. Our derivations can be readily extended to markets having more than two stocks, where these extensions are pointed out in the paper. As predicted from our derivations, we significantly improve the achieved wealth over portfolio selection algorithms from the literature on historical data sets.

  11. Transaction cost analysis in redeveloping indigenous lands in Malaysia

    Directory of Open Access Journals (Sweden)

    I. OMAR

    2009-06-01

    Full Text Available Land supply constraints restrict the flow of land supply onto the land market for development purposes. It disturbs the effectiveness of the land market. As a result, the underutilized area may become derelict and needs regeneration as part of urban renewal programs. The study begins with discussion on transaction costs within institutional economics analysis. In particular, the review on literature concentrates on the elements of land supply constraints with the purpose to feed the empirical analysis in the case study areas. Empirically, the study investigates sources of land supply constraints in the case study area of MAS Kampong Baru, Kuala Lumpur. Data were gathered using interviews with landowners of undeveloped and developed sites to examine why they had taken effort to develop or simply abandoned their lands undeveloped. Analysis had been undertaken using qualitative techniques on respondents using coding, either direct or indirect quotations. Landowner respondents were taken randomly to represent predetermined zones within the case study areas. Data analysed were presented in the forms of charts, histograms, diagrams and illustrations to ease discussion. One of the main findings is that landowners were unwilling to undertake redevelopment due to land supply constraints as revealed by transaction cost embedded within their status of landownership, attitudes, physical, planning and valuation or market constraints. In the end, the findings enable various interested parties to realize their roles and responsibilities in their future directions to redevelop Kampong Baru in Kuala Lumpur.

  12. The Effects of Collaboration on Logistical Performance and Transaction Costs

    Directory of Open Access Journals (Sweden)

    Vieira, J.G.V.

    2015-05-01

    Full Text Available This paper assesses the effect of supplier-retailer collaboration on logistical performance and transaction costs from the viewpoint of retail sector suppliers. The methodology consists of an empirical study conducted over nine months in the logistics department of a large Brazilian supermarket retailer and a survey of 125 representatives of 90 manufacturers. The results show collaboration contributes to an improvement in logistical performance related to urgent deliveries and deliveries that occur during periods of high demand. Interpersonal collaboration and joint actions contribute to the reduction of uncertainties among the participants. These joint actions, together with strategic collaboration, contribute to an increase in investment in specific assets, such as dedicated production lines or specialised vehicle fleets to serve partners. The study provides an analysis of logistical performance and transaction cost elements not previously investigated, including urgent deliveries and deliveries during periods of high demand, contract negotiation and renegotiation, waiting time for agreements to be reached, contingency logistics planning, and various cultural, psychosocial and geographical aspects of the supplier-retailer relationship. Managerial implications, research limitation and future research are also discussed.

  13. Two-Stage Fuzzy Portfolio Selection Problem with Transaction Costs

    Directory of Open Access Journals (Sweden)

    Yanju Chen

    2015-01-01

    Full Text Available This paper studies a two-period portfolio selection problem. The problem is formulated as a two-stage fuzzy portfolio selection model with transaction costs, in which the future returns of risky security are characterized by possibility distributions. The objective of the proposed model is to achieve the maximum utility in terms of the expected value and variance of the final wealth. Given the first-stage decision vector and a realization of fuzzy return, the optimal value expression of the second-stage programming problem is derived. As a result, the proposed two-stage model is equivalent to a single-stage model, and the analytical optimal solution of the two-stage model is obtained, which helps us to discuss the properties of the optimal solution. Finally, some numerical experiments are performed to demonstrate the new modeling idea and the effectiveness. The computational results provided by the proposed model show that the more risk-averse investor will invest more wealth in the risk-free security. They also show that the optimal invested amount in risky security increases as the risk-free return decreases and the optimal utility increases as the risk-free return increases, whereas the optimal utility increases as the transaction costs decrease. In most instances the utilities provided by the proposed two-stage model are larger than those provided by the single-stage model.

  14. Hospital efficiency and transaction costs: a stochastic frontier approach.

    Science.gov (United States)

    Ludwig, Martijn; Groot, Wim; Van Merode, Frits

    2009-07-01

    The make-or-buy decision of organizations is an important issue in the transaction cost theory, but is usually not analyzed from an efficiency perspective. Hospitals frequently have to decide whether to outsource or not. The main question we address is: Is the make-or-buy decision affected by the efficiency of hospitals? A one-stage stochastic cost frontier equation is estimated for Dutch hospitals. The make-or-buy decisions of ten different hospital services are used as explanatory variables to explain efficiency of hospitals. It is found that for most services the make-or-buy decision is not related to efficiency. Kitchen services are an important exception to this. Large hospitals tend to outsource less, which is supported by efficiency reasons. For most hospital services, outsourcing does not significantly affect the efficiency of hospitals. The focus on the make-or-buy decision may therefore be less important than often assumed.

  15. Educational Alliances, Property Rights and Trust: Issues of Transaction Costs in the Transfer of Credit.

    Science.gov (United States)

    Girton, Kathryn M.

    Using transaction-cost economics as a theoretical lens, this paper analyzes educational alliances, which are agreements between educational organizations, such as those between 2-year and 4-year colleges. Transaction costs are those costs associated with the movement of course-credit hours across different institutional environments. The report…

  16. 18 CFR 2.25 - Ratemaking treatment of the cost of emissions allowances in coordination transactions.

    Science.gov (United States)

    2010-04-01

    ... the cost of emissions allowances in coordination transactions. 2.25 Section 2.25 Conservation of Power... § 2.25 Ratemaking treatment of the cost of emissions allowances in coordination transactions. (a... Commission provides for recovery of variable costs on an incremental basis, the Commission will allow...

  17. Academic Activities Transaction Extraction Based on Deep Belief Network

    Directory of Open Access Journals (Sweden)

    Xiangqian Wang

    2017-01-01

    Full Text Available Extracting information about academic activity transactions from unstructured documents is a key problem in the analysis of academic behaviors of researchers. The academic activities transaction includes five elements: person, activities, objects, attributes, and time phrases. The traditional method of information extraction is to extract shallow text features and then to recognize advanced features from text with supervision. Since the information processing of different levels is completed in steps, the error generated from various steps will be accumulated and affect the accuracy of final results. However, because Deep Belief Network (DBN model has the ability to automatically unsupervise learning of the advanced features from shallow text features, the model is employed to extract the academic activities transaction. In addition, we use character-based feature to describe the raw features of named entities of academic activity, so as to improve the accuracy of named entity recognition. In this paper, the accuracy of the academic activities extraction is compared by using character-based feature vector and word-based feature vector to express the text features, respectively, and with the traditional text information extraction based on Conditional Random Fields. The results show that DBN model is more effective for the extraction of academic activities transaction information.

  18. Listening to Whispers of Ripple: Linking Wallets and Deanonymizing Transactions in the Ripple Network

    Directory of Open Access Journals (Sweden)

    Moreno-Sanchez Pedro

    2016-10-01

    Full Text Available The decentralized I owe you (IOU transaction network Ripple is gaining prominence as a fast, low-cost and efficient method for performing same and cross-currency payments. Ripple keeps track of IOU credit its users have granted to their business partners or friends, and settles transactions between two connected Ripple wallets by appropriately changing credit values on the connecting paths. Similar to cryptocurrencies such as Bitcoin, while the ownership of the wallets is implicitly pseudonymous in Ripple, IOU credit links and transaction flows between wallets are publicly available in an online ledger. In this paper, we present the first thorough study that analyzes this globally visible log and characterizes the privacy issues with the current Ripple network. In particular, we define two novel heuristics and perform heuristic clustering to group wallets based on observations on the Ripple network graph. We then propose reidentification mechanisms to deanonymize the operators of those clusters and show how to reconstruct the financial activities of deanonymized Ripple wallets. Our analysis motivates the need for better privacy-preserving payment mechanisms for Ripple and characterizes the privacy challenges faced by the emerging credit networks.

  19. Influence of Transaction costs and real options on firms' own-or-rent ...

    African Journals Online (AJOL)

    Based on secondary data on 79 companies in Mekelle, Ethiopia, this paper investigates the influence of transaction cost and real option factors on firms' own or rent decision for building resources. Empirical results suggest that both transaction cost and option factors have significant influence on firms' own or rent decision.

  20. Organizational Economics: Notes on the Use of Transaction-Cost Theory in the Study of Organizations.

    Science.gov (United States)

    Robins, James A.

    1987-01-01

    Reviews transaction-cost approaches to organizational analysis, examines their use in microeconomic theory, and identifies some important flaws in the study. Advocates transaction-cost theory as a powerful tool for organizational and strategic analysis when set within the famework of more general organizational theory. Includes 61 references. (MLH)

  1. Do Transaction Costs and Risk Preferences Influence Marketing Arrangements in the Illinois Hog Industry?

    NARCIS (Netherlands)

    Franken, J.R.V.; Pennings, J.M.E.; Garcia, P.

    2008-01-01

    Studies of hog industry structure often invoke risk reduction and transaction costs explanations for empirical observations but fail to directly examine the core concepts of risk behavior and transaction costs theories. Using a more unified conceptual framework and unique survey and accounting data,

  2. The economic perspective: demand and supply in the reduction of transaction costs in the ancient world

    NARCIS (Netherlands)

    Dari-Mattiacci, G.; Kehoe, D.P.; Ratzan, D.M.; Yiftach, U.

    2015-01-01

    In this chapter, I distill some elements of the demand and supply of institutions designed to reduce transaction costs in the ancient world. I some cases, contractual parties could reduce transaction cost by accurately designing contracts. In other cases, the failure of private coordination placed

  3. Finite difference schemes for a nonlinear black-scholes model with transaction cost and volatility risk

    DEFF Research Database (Denmark)

    Mashayekhi, Sima; Hugger, Jens

    2015-01-01

    Several nonlinear Black-Scholes models have been proposed to take transaction cost, large investor performance and illiquid markets into account. One of the most comprehensive models introduced by Barles and Soner in [4] considers transaction cost in the hedging strategy and risk from an illiquid...

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

    International Nuclear Information System (INIS)

    Lee, Kangil; Han, Taek-Whan

    2016-01-01

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

  5. Analysis of transaction costs for the supply and demand for wood fuels

    International Nuclear Information System (INIS)

    Roos, A.; Bohlin, F.; Hektor, B.; Hillring, B.; Parikka, M.

    2001-12-01

    The objective of the project was to analyse the importance of transaction costs for the supply and demand for woodfuels in Sweden. The project covered the period of great expansion of woodfuel use in the district heating sector, from 1980 until present. It uses literature studies, case studies and surveys. New institutional theory and transaction cost theory was applied. Several transaction costs have influenced both supply from the forest owners and demand from the main users, the district heating plants. Many of these transaction costs have been reduced by the market players, through learning, technical improvements and institutional innovations. Actions to reduce transaction costs have accompanied technical improvements of handling and transport. Strategies for woodfuel procurement have also been analysed. Important conclusions of the project for a change in the energy system are presented

  6. Trust and Control Dynamics in Agrifood Supply Networks: Communication Strategies for Electronic Transaction Environments

    OpenAIRE

    Fritz, Melanie; Hausen, Tobias

    2006-01-01

    Agrifood supply networks are dynamic structures where firms regularly face the need to search for new market partners. A decision for a transaction with a new partner requires the existence of appropriate control and safeguard mechanisms as well as trust to overcome perceived risk and uncertainties. Electronic transaction environments offer new potentials for the identification of new transaction partners. However, trust and control need to be communicated appropriately in electronic transact...

  7. The Problematic Aspects of Accounting the Transaction Costs and Ways to Address Them

    Directory of Open Access Journals (Sweden)

    Khorunzhak Nadiya M.

    2017-05-01

    Full Text Available The article is aimed at a theoretical generalization of the nature and causes of appearance of transaction costs, development of proposals on formation of an effective model for their management, including the proposals on the basis of improved accounting for brewery enterprises. According to the carried out analysis of the authors’ positions on accounting, including the positions related to reflection of transaction costs in the accounting records, it has been concluded about expediency to account such costs by types, although only in regard to the activities, directed toward sales of production. A goal tree graph has been built to ensure the rationality of research on elaborating the classification (grouping of transaction costs and on substantiating the composition of working accounts for their accounting. In order to ensure the continuity and timeliness of including the transaction costs into the prime cost of the production sold, it has been proposed to use planning and reporting calculations. An approach has been developed to determine the planned inclusion of transaction costs in the prime cost of the production sold (exponential average. An appropriate model for recording the transaction costs has been built. Prospect for further research will be construction of the efficient policy decisions concerning the enterprise’s activities, based on the above conception of the system of management of transaction costs together with its information base.

  8. Transaction costs and community-based natural resource management in Nepal.

    Science.gov (United States)

    Adhikari, Bhim; Lovett, Jon C

    2006-01-01

    Transaction costs in community-based resource management are incurred by households attempting to enforce property right rules over common resources similar to those inherent in private property rights. Despite their importance, transaction costs of community-based management of common pool resources (CPRs) are often not incorporated into the economic analysis of participatory resource management. This paper examines the transaction costs incurred by forest users in community forestry (CF) based on a survey of 309 households belonging to eight different forest user groups (FUGs) in the mid hills of Nepal. The analysis reveals that the average 'poor' household incurred Nepalese rupees (NRS) 1265 in transaction costs annually, while wealthier 'rich' households incurred an average of NRS 2312 per year. Although richer households bear higher proportions of such costs, transaction costs for CF management as a percentage of resource appropriation costs are higher for poorer households (26%) than those of middle-wealth (24%) or rich households (14%). There are also village differences in the level of transaction costs. The results show that transaction costs are a major component of resource management costs and vary according to socio-economic status of resource users and characteristics of the community.

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

    OpenAIRE

    Starr, Ross M.

    2002-01-01

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

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

    Science.gov (United States)

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

    2014-04-01

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

  11. Division of Labor, Transaction Cost, Emergence of the Firm and Firm Size

    OpenAIRE

    Pak-Wai Liu; Xiaokai Yang

    1999-01-01

    In this paper a general equilibrium model is constructed to explain the emergence of firms and change in firm size by the tradeoff between economies of specialization and transaction cost. We show that firms emerge from the development of division of labor if the transaction efficiency for labor is smaller than that for intermediate goods. Given the emergence of firms, change in the average size of firms (average employment) will depend on the change in transaction efficiency for intermediate...

  12. Transaction costs of unilateral CDM projects in India-results from an empirical survey

    International Nuclear Information System (INIS)

    Krey, Matthias

    2005-01-01

    Recently, transaction costs in the context of the Clean Development Mechanism (CDM) gained considerable attention as they were generally perceived to be significantly higher than for the other Kyoto Mechanisms. However, empirical evidence on the amount of transaction costs of CDM projects is very scarce. This paper presents the results from an empirical survey designed to quantify transaction costs of potential non-sink CDM projects in India. The definition of transaction costs of CDM projects was derived from recent literature and observations made in the current market for Certified Emission Reductions (CERs). During the survey, parts of transaction costs of 15 projects were quantified. An assessment of the results showed that specific transaction costs depend, to a large extent, on economies of scale in terms of total amount of CERs generated over the crediting period. Total transaction costs were quantified for seven projects. The costs range from 0.07 to 0.47 dollar/t CO 2 . As the projects have an emission reduction between 0.24 Mt CO 2 and 5.00 Mt CO 2 over the crediting period, the results support the assumption of Michaelowa et al. (Climate Policy 3 (2003) 273) that projects with emission reductions smaller than 0.20 Mt CO 2 are not economically viable at current CER prices

  13. 12 CFR Appendix K to Part 226 - Total Annual Loan Cost Rate Computations for Reverse Mortgage Transactions

    Science.gov (United States)

    2010-01-01

    ... Appendix K to Part 226—Total Annual Loan Cost Rate Computations for Reverse Mortgage Transactions (a... loan cost rate for various transactions, as well as instructions, explanations, and examples for.... (2) Term of the transaction. For purposes of total annual loan cost disclosures, the term of a...

  14. Transaction Costs, the Phenomenon of the Trading House and Economic Organization

    Directory of Open Access Journals (Sweden)

    Kiryanov Igor, V.

    2015-12-01

    Full Text Available The present paper contains a study of the phenomenon of company’s specific internal divisions called “trading house”. The analysis of different approaches (based on results obtained by R. Coase and O. Williamson towards the problem of impact of transaction cost on company size leads to the following conclusion: the company size mostly depends on its institutional architecture which includes specific divisions that ensure outsourcing of intergroup transaction cost. I propose to call these divisions centers of transaction cost. I suppose that the wide popularity of trading houses among companies belonging to different branches can be explained by the fact that a trading house is mostly used not as selling and purchasing division, but as a center of transaction cost that concentrates the biggest transaction cost (by its share within company’s general expenses. This reasoning leads to possibility of existence of a set of methodological principles that allow to build up an a priori model of expanding company. The process of expansion represents a series of inclusion of centers of transactions cost by the company after institutional advantages of an earlier institutional architecture disappear. This methodology allows to set up a classification between a classical company as a structure with low level of integration and frozen institutional architecture and an economic organization that represents an explicitly constructed composition including centers of transaction cost that help to extend the transformational space of an expanding company.

  15. Subcommunities and Their Mutual Relationships in a Transaction Network

    Science.gov (United States)

    Iino, T.; Iyetomi, H.

    We investigate a Japanese transaction network consisting ofabout 800 thousand firms (nodes) and four million business relations (links) with focus on its modular structure. Communities detected by maximizing modularity often are dominated by firms with common features or behaviors in the network, such as characterized by regions or industry sectors. However, it is well known that the modularity optimization approach has a resolution limit problem, that is, it fails in identifying fine communities buried in large communities. To unfold such hidden structures, we apply the community detection to each of subnetworks formed by isolating those communities from the whole body. Subcommunities thus identified are composed of firms with finer regions, more specified sectors or business affiliations. Also we introduce a new idea of reduced modularity matrix to measure the strength of relations between (sub)communities.

  16. Administration and transaction cost estimates for a greenhouse gas offset system : final report

    International Nuclear Information System (INIS)

    2004-01-01

    Canada's Climate Change Plan provides large final emitters (LFEs) with the option to meet their emission targets through the purchase of domestic greenhouse gas (GHG) offset credits. This paper presents the results of a study which identified and estimated transaction costs associated with an offset system. The cost to both proponents and governments were identified. The study also suggested ways to reduce administration and transaction costs through design options. The study considered projects involving agriculture, forests, landfill gas capture, renewable energy and energy efficiency within a potential domestic offset system. It was determined that average transaction costs per tonne range from $19 per tonne to $0.05 depending on the design choice and project type. Total administration costs did not vary more than 5 per cent between different design choices. The total system costs, which are the combination of all transaction and administration costs, are the best indicator for the potential of a project. Eight case studies were examined and costs per tonne were presented. According to the results, the best opportunities to reduce both transaction and administration costs are to choose a broad approach to baselines, boundaries and quantification; and, to allow pooling in the forestry and agriculture sectors. Transaction costs can be lowered further by reducing the frequency of monitoring and verification and allowing pre-2008 crediting. refs., tabs., figs

  17. The consequences of hospital autonomization in Colombia: a transaction cost economics analysis.

    Science.gov (United States)

    Castano, Ramon; Mills, Anne

    2013-03-01

    Granting autonomy to public hospitals in developing countries has been common over recent decades, and implies a shift from hierarchical to contract-based relationships with health authorities. Theory on transactions costs in contractual relationships suggests they stem from relationship-specific investments and contract incompleteness. Transaction cost economics argues that the parties involved in exchanges seek to reduce transaction costs. The objective of this research was to analyse the relationships observed between purchasers and the 22 public hospitals of the city of Bogota, Colombia, in order to understand the role of relationship-specific investments and contract incompleteness as sources of transaction costs, through a largely qualitative study. We found that contract-based relationships showed relevant transaction costs associated mainly with contract incompleteness, not with relationship-specific investments. Regarding relationships between insurers and local hospitals for primary care services, compulsory contracting regulations locked-in the parties to the contracts. For high-complexity services (e.g. inpatient care), no restrictions applied and relationships suggested transaction-cost minimizing behaviour. Contract incompleteness was found to be a source of transaction costs on its own. We conclude that transaction costs seemed to play a key role in contract-based relationships, and contract incompleteness by itself appeared to be a source of transaction costs. The same findings are likely in other contexts because of difficulties in defining, observing and verifying the contracted products and the underlying information asymmetries. The role of compulsory contracting might be context-specific, although it is likely to emerge in other settings due to the safety-net role of public hospitals.

  18. Transactional Problem Content in Cost Discounting: Parallel Effects for Probability and Delay

    Science.gov (United States)

    Jones, Stephen; Oaksford, Mike

    2011-01-01

    Four experiments investigated the effects of transactional content on temporal and probabilistic discounting of costs. Kusev, van Schaik, Ayton, Dent, and Chater (2009) have shown that content other than gambles can alter decision-making behavior even when associated value and probabilities are held constant. Transactions were hypothesized to lead…

  19. Growth Optimal Portfolio Selection Under Proportional Transaction Costs with Obligatory Diversification

    International Nuclear Information System (INIS)

    Duncan, T.; Pasik Duncan, B.; Stettner, L.

    2011-01-01

    A continuous time long run growth optimal or optimal logarithmic utility portfolio with proportional transaction costs consisting of a fixed proportional cost and a cost proportional to the volume of transaction is considered. The asset prices are modeled as exponent of diffusion with jumps whose parameters depend on a finite state Markov process of economic factors. An obligatory portfolio diversification is introduced, accordingly to which it is required to invest at least a fixed small portion of our wealth in each asset.

  20. Risks and Transaction Costs of Distributed-Ledger Fintech: Boundary Effects and Consequences

    OpenAIRE

    Kaivanto, Kim; Prince, Daniel

    2017-01-01

    Fintech business models based on distributed ledgers -- and their smart-contract variants in particular -- offer the prospect of democratizing access to faster, anywhere-accessible, lower cost, reliable-and-secure high-quality financial services. In addition to holding great, economically transformative promise, these business models pose new, little-studied risks and transaction costs. However, these risks and transaction costs are not evident during the demonstration and testing phases of d...

  1. Analysis of Transaction Costs in Logistics and the Methodologies for Their Information Reflection for Automotive Companies

    OpenAIRE

    Ol’ga Evgen’evna Kovrizhnykh; Polina Aleksandrovna Nechaeva

    2016-01-01

    Transaction costs emerge in different types of logistics activities and influence the material flow and the accompanying financial and information flows; due to this fact, the information support and assessment are important tasks for the enterprise. The paper analyzes transaction costs in logistics for automotive manufacturers; according to the analysis, the level of these costs in any functional area of “logistics supply” ranges from 1.5 to 20%. These are only the official figures of transa...

  2. R&D Cooperation Between Firms---A Perceived Transaction Cost Perspective

    OpenAIRE

    Klaus Brockhoff

    1992-01-01

    Transaction cost is considered as an explanatory variable for the choice between markets and various organizational arrangements for performing some predefined tasks, such as engaging in private R&D. With respect to R&D cooperation between firms, we show that the perception of high transaction cost is related to certain characteristics of the firm and to the type of R&D task. We also show a relationship between the perception of transaction cost and the perceived success of the cooperation. T...

  3. Price Reversal Pattern of ARV Drugs: A Transaction-Cost Approach Digression

    Directory of Open Access Journals (Sweden)

    Frank LORNE

    2015-05-01

    Full Text Available A price reversal pattern of ARV drugs was noted across lower and middle income countries in that the lower-income countries have higher prices relative to higher-income countries based on a 2008-2009 Summary Report by World Health Organization. The transaction costs affecting AVR drug pricing can be broadly classified into two kinds: One between the final users and the opinion/knowledge experts, and the other between the opinion/knowledge experts and the manufacturers. Economist’s version of price discrimination needs to be modified by including transaction costs. Transaction costs also point to institution creditability factors that will affect NGO procurement.

  4. European Option Pricing with Transaction Costs in Lévy Jump Environment

    Directory of Open Access Journals (Sweden)

    Jiayin Li

    2014-01-01

    Full Text Available The European option pricing problem with transaction costs is investigated for a risky asset price model with Lévy jump. By the aid of arbitrage pricing theory and the generalized Itô formula (which includes Poisson jump, the explicit solution to the risk asset price model is given. According to arbitrage-free principle, we first discretize the continuous-time model. Then, in each small time interval, the transaction costs are introduced. By using the Δ-hedging strategy, the explicit solutions of the European options pricing formula with transaction costs are given for the risky asset price model with Lévy jump.

  5. Dynamic Portfolio Optimization with Transaction Costs and State-Dependent Drift

    DEFF Research Database (Denmark)

    Palczewski, Jan; Poulsen, Rolf; Schenk-Hoppe, Klaus Reiner

    2015-01-01

    The problem of dynamic portfolio choice with transaction costs is often addressed by constructing a Markov Chain approximation of the continuous time price processes. Using this approximation, we present an efficient numerical method to determine optimal portfolio strategies under time- and state......-dependent drift and proportional transaction costs. This scenario arises when investors have behavioral biases or the actual drift is unknown and needs to be estimated. Our numerical method solves dynamic optimal portfolio problems with an exponential utility function for time-horizons of up to 40 years....... It is applied to measure the value of information and the loss from transaction costs using the indifference principle....

  6. Multi-period fuzzy mean-semi variance portfolio selection problem with transaction cost and minimum transaction lots using genetic algorithm

    Directory of Open Access Journals (Sweden)

    Mohammad Ali Barati

    2016-04-01

    Full Text Available Multi-period models of portfolio selection have been developed in the literature with respect to certain assumptions. In this study, for the first time, the portfolio selection problem has been modeled based on mean-semi variance with transaction cost and minimum transaction lots considering functional constraints and fuzzy parameters. Functional constraints such as transaction cost and minimum transaction lots were included. In addition, the returns on assets parameters were considered as trapezoidal fuzzy numbers. An efficient genetic algorithm (GA was designed, results were analyzed using numerical instances and sensitivity analysis were executed. In the numerical study, the problem was solved based on the presence or absence of each mode of constraints including transaction costs and minimum transaction lots. In addition, with the use of sensitivity analysis, the results of the model were presented with the variations of minimum expected rate of programming periods.

  7. A transaction cost analysis of micropayments in mobile commerce

    OpenAIRE

    Gille, Daniel

    2005-01-01

    Personalised, location-related and differentiated services in the mobile digital economy create a demand for suitable pricing models. In the case of disaggregated “microservices” (e.g., small digitalized information or service units), as well as for the acquisition of low-value physical goods, the deployment of micropayments seems appropriate. This paper analyzes the economic efficiency of marginal transaction amounts in the m-commerce area by applying the theoretical approach of transact...

  8. Corporate Governance of Sugar Mills in East Java: A Transaction Cost Economics Perspective

    Directory of Open Access Journals (Sweden)

    Ahmad Erani Yustika

    2007-01-01

    Full Text Available Despite Indonesia’s overall achievements during the past two decades%2C the economy is encountering a series of problems. One of the biggest challenges is the unsatisfactory performance of the state-owned enterprises (SOEs. Subsidisies and uncovered loans to the SOEs have drained the government’s fiscal resources%2C and the signing off of employees creates many social problems. Compared with the SOEs in other sectors%2C state-owned sugar mills face more serious crises which not only jeopardise the social fabric%2C but also endanger the production. Research results strengthen the statement that the basic problem in sugar mills is management inefficiency resulting in high transaction costs. This research compares the transaction costs between state-owned (Ngadiredjo and privately-owned (Kebon Agung sugar mills. The study shows that in Kebon Agung Sugar Mill transaction costs are higher than production costs%2C while in Ngadiredjo Sugar Mill the reverse is true. However%2C the high transaction costs in Kebon Agung Sugar Mill cannot be attributed directly to inefficient institutions%2C because Ngadiredjo Sugar Mill incurred high costs for plants%2C land preparation%2C and fertilizer%2C which decreased the proportion of transaction costs. If analyzed in detail%2C the following facts are revealed: (i market transaction costs in Kebon Agung Sugar Mill are higher than in Ngadiredjo Sugar Mill. This is because Kebon Agung Sugar Mill has established cooperation with sugarcane farmers in the form of extensions and transport subsidies; and (ii the political transaction costs proportion in Ngadiredjo Sugar Mill is higher than in Kebon Agung Sugar Mill because of the imposition of many ‘illegal’ fees. Abstract in Bahasa Indonesia : transaction cost economics%2C corporate governance%2C sugar mill%2C East Java.

  9. The chronic care model versus disease management programs: a transaction cost analysis approach.

    Science.gov (United States)

    Leeman, Jennifer; Mark, Barbara

    2006-01-01

    The present article applies transaction cost analysis as a framework for better understanding health plans' decisions to improve chronic illness management by using disease management programs versus redesigning care within physician practices.

  10. Enhancing supply risk management performance : a transaction cost and social exchange theory perspective

    NARCIS (Netherlands)

    Hoffmann, Petra; Schiele, Holger; Song, Michael

    2012-01-01

    Supply risk management gained prominence over the last decade, both in the academic discourse and in practical application. This research examines the influence of Transaction Cost characteristics -behavioral uncertainty, environmental uncertainty and asset specificity- on supply risk management

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

    NARCIS (Netherlands)

    Royer, A.

    2011-01-01

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

  12. Enhancing supply risk management performance: a transaction cost and social exchange theory perspective

    NARCIS (Netherlands)

    Hoffmann, Petra; Schiele, Holger; Song, Michael; Krabbendam, Johannes Jacobus

    2011-01-01

    Supply risk management gained prominence over the last decade, both in the academic discourse and in practical application. This research examines the influence of Transaction Cost characteristics -behavioral uncertainty, environmental uncertainty and asset specificity- on supply risk management

  13. Supply risk management from a transaction cost and social exchange theory perspective

    NARCIS (Netherlands)

    Hoffmann, Petra; Schiele, Holger; Song, Michael; Krabbendam, Johannes Jacobus

    2012-01-01

    Supply risk management gained prominence over the last decade, both in the academic discourse and in practical application. This research examines the influence of Transaction Cost characteristics -behavioral uncertainty, environmental uncertainty and asset specificity on supply risk management

  14. Asian Option Pricing with Monotonous Transaction Costs under Fractional Brownian Motion

    Directory of Open Access Journals (Sweden)

    Di Pan

    2013-01-01

    Full Text Available Geometric-average Asian option pricing model with monotonous transaction cost rate under fractional Brownian motion was established. The method of partial differential equations was used to solve this model and the analytical expressions of the Asian option value were obtained. The numerical experiments show that Hurst exponent of the fractional Brownian motion and transaction cost rate have a significant impact on the option value.

  15. Supply risk management from a transaction cost and social exchange theory perspective

    OpenAIRE

    Hoffmann, Petra; Schiele, Holger; Song, Michael; Krabbendam, Johannes Jacobus

    2012-01-01

    Supply risk management gained prominence over the last decade, both in the academic discourse and in practical application. This research examines the influence of Transaction Cost characteristics -behavioral uncertainty, environmental uncertainty and asset specificity on supply risk management performance. We also identify two antecedents of the transaction cost constructs based on social exchange theory: dependency and preferred customer status. We used survey data to discover a positive in...

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

    OpenAIRE

    Takahiro Ito

    2007-01-01

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

  17. Research on e-commerce transaction networks using multi-agent modelling and open application programming interface

    Science.gov (United States)

    Piao, Chunhui; Han, Xufang; Wu, Harris

    2010-08-01

    We provide a formal definition of an e-commerce transaction network. Agent-based modelling is used to simulate e-commerce transaction networks. For real-world analysis, we studied the open application programming interfaces (APIs) from eBay and Taobao e-commerce websites and captured real transaction data. Pajek is used to visualise the agent relationships in the transaction network. We derived one-mode networks from the transaction network and analysed them using degree and betweenness centrality. Integrating multi-agent modelling, open APIs and social network analysis, we propose a new way to study large-scale e-commerce systems.

  18. What can transaction costs tell us about governance in the delivery of large scale HIV prevention programmes in southern India?

    Science.gov (United States)

    Guinness, Lorna

    2011-01-01

    This paper aims to understand the transaction costs implications of two different governance modes for large scale contracting of HIV prevention services to non-governmental organisations (NGOs) in 2 states in India as part of the National AIDS Control Programme between 2001 and 2003. Interviews at purposively selected case study NGOs, contracting agencies and key informants as well as document review were used to compile qualitative data and make comparisons between the states on five themes theoretically proposed to shape transaction costs: institutional environment, informational problems, opportunism, scale of activity and asset specificity (the degree to which investments made specifically for the contract have value elsewhere). The State AIDS Control Society (SACS) in state Y used a management agency to manage the NGO contracts whereas the SACS in state X contracted directly with the NGOs. A high level of uncertainty, endemic corruption and weak information systems served to weaken the contractual relationships in both states. The management agency in state Y enabled the development of a strong NGO network, greater transparency and control over corrupt practises than the contract model in state X. State X’s contractual process was further weakened by inadequate human resources. The application of the transaction cost framework to contracting out public services to NGOs identified the key costs associated with the governance of HIV prevention services through NGO contracts in India. A more successful form of relational contract evolved within the network of the contract management agency and the NGOs. This led to improved flows of information and perceived quality, and limited corrupt practises. It is unlikely that the SACS on its own, with broader responsibilities and limited autonomy can achieve the same ends. The management agency approach therefore appears to be both transaction cost reducing and better able to cope with the large scale of these

  19. What can transaction costs tell us about governance in the delivery of large scale HIV prevention programmes in southern India?

    Science.gov (United States)

    Guinness, Lorna

    2011-06-01

    This paper aims to understand the transaction costs implications of two different governance modes for large scale contracting of HIV prevention services to non-governmental organisations (NGOs) in 2 states in India as part of the National AIDS Control Programme between 2001 and 2003. Interviews at purposively selected case study NGOs, contracting agencies and key informants as well as document review were used to compile qualitative data and make comparisons between the states on five themes theoretically proposed to shape transaction costs: institutional environment, informational problems, opportunism, scale of activity and asset specificity (the degree to which investments made specifically for the contract have value elsewhere). The State AIDS Control Society (SACS) in state Y used a management agency to manage the NGO contracts whereas the SACS in state X contracted directly with the NGOs. A high level of uncertainty, endemic corruption and weak information systems served to weaken the contractual relationships in both states. The management agency in state Y enabled the development of a strong NGO network, greater transparency and control over corrupt practises than the contract model in state X. State X's contractual process was further weakened by inadequate human resources. The application of the transaction cost framework to contracting out public services to NGOs identified the key costs associated with the governance of HIV prevention services through NGO contracts in India. A more successful form of relational contract evolved within the network of the contract management agency and the NGOs. This led to improved flows of information and perceived quality, and limited corrupt practises. It is unlikely that the SACS on its own, with broader responsibilities and limited autonomy can achieve the same ends. The management agency approach therefore appears to be both transaction cost reducing and better able to cope with the large scale of these

  20. International business and economic geography : knowledge, time and transactions costs

    NARCIS (Netherlands)

    McCann, Philip

    This paper sketches out how the ways in which a combination of economic geography and international business approaches can shed light on the spatial behaviour of multinational companies. The emphasis of the argument here is on the nature of the knowledge content embedded in the transactions of the

  1. Introducing nonpoint source transferable quotas in nitrogen trading: The effects of transaction costs and uncertainty.

    Science.gov (United States)

    Zhou, Xiuru; Ye, Weili; Zhang, Bing

    2016-03-01

    Transaction costs and uncertainty are considered to be significant obstacles in the emissions trading market, especially for including nonpoint source in water quality trading. This study develops a nonlinear programming model to simulate how uncertainty and transaction costs affect the performance of point/nonpoint source (PS/NPS) water quality trading in the Lake Tai watershed, China. The results demonstrate that PS/NPS water quality trading is a highly cost-effective instrument for emissions abatement in the Lake Tai watershed, which can save 89.33% on pollution abatement costs compared to trading only between nonpoint sources. However, uncertainty can significantly reduce the cost-effectiveness by reducing trading volume. In addition, transaction costs from bargaining and decision making raise total pollution abatement costs directly and cause the offset system to deviate from the optimal state. While proper investment in monitoring and measuring of nonpoint emissions can decrease uncertainty and save on the total abatement costs. Finally, we show that the dispersed ownership of China's farmland will bring high uncertainty and transaction costs into the PS/NPS offset system, even if the pollution abatement cost is lower than for point sources. Copyright © 2015 Elsevier Ltd. All rights reserved.

  2. Analysis of the production and transaction costs of forest carbon offset projects in the USA.

    Science.gov (United States)

    Galik, Christopher S; Cooley, David M; Baker, Justin S

    2012-12-15

    Forest carbon offset project implementation costs, comprised of both production and transaction costs, could present an important barrier to private landowner participation in carbon offset markets. These costs likewise represent a largely undocumented component of forest carbon offset potential. Using a custom spreadsheet model and accounting tool, this study examines the implementation costs of different forest offset project types operating in different forest types under different accounting and sampling methodologies. Sensitivity results are summarized concisely through response surface regression analysis to illustrate the relative effect of project-specific variables on total implementation costs. Results suggest that transaction costs may represent a relatively small percentage of total project implementation costs - generally less than 25% of the total. Results also show that carbon accounting methods, specifically the method used to establish project baseline, may be among the most important factors in driving implementation costs on a per-ton-of-carbon-sequestered basis, dramatically increasing variability in both transaction and production costs. This suggests that accounting could be a large driver in the financial viability of forest offset projects, with transaction costs likely being of largest concern to those projects at the margin. Copyright © 2012 Elsevier Ltd. All rights reserved.

  3. Determinants and Effects of Logistics Costs in Container Ports: The Transaction Cost Economics Perspective

    Directory of Open Access Journals (Sweden)

    Hyuk-soo Cho

    2014-08-01

    Full Text Available Many countries seek to become a global logistics center linking major trading ports. They are competitively constructing container ports. The aggressive competition creates overcapacity situation in the container port sector. Massive investments are required to construct container ports with terminals, docks, storage areas and hinterlands. Nevertheless, it is not easy for container ports to have sufficient container cargo volumes to justify the massive investments. Therefore, container ports of individual countries are required to develop effective strategies to have enough traffic volumes. Based on country-level analysis, this study is designed to investigate empirically internal capabilities and external environments of logistics costs and traffic volumes in individual container ports. A theoretical foundation, the transaction cost economics (TCE is applied to support and explain empirical findings.

  4. Cost analysis of an electricity supply chain using modification of price based dynamic economic dispatch in wheeling transaction scheme

    Science.gov (United States)

    Wahyuda; Santosa, Budi; Rusdiansyah, Ahmad

    2018-04-01

    Deregulation of the electricity market requires coordination between parties to synchronize the optimization on the production side (power station) and the transport side (transmission). Electricity supply chain presented in this article is designed to facilitate the coordination between the parties. Generally, the production side is optimized with price based dynamic economic dispatch (PBDED) model, while the transmission side is optimized with Multi-echelon distribution model. Both sides optimization are done separately. This article proposes a joint model of PBDED and multi-echelon distribution for the combined optimization of production and transmission. This combined optimization is important because changes in electricity demand on the customer side will cause changes to the production side that automatically also alter the transmission path. The transmission will cause two cost components. First, the cost of losses. Second, the cost of using the transmission network (wheeling transaction). Costs due to losses are calculated based on ohmic losses, while the cost of using transmission lines using the MW - mile method. As a result, this method is able to provide best allocation analysis for electrical transactions, as well as emission levels in power generation and cost analysis. As for the calculation of transmission costs, the Reverse MW-mile method produces a cheaper cost than the Absolute MW-mile method

  5. Social capital and transaction cost on co-creating IT value towards inter-organizational EMR exchange.

    Science.gov (United States)

    Chang, Hsin Hsin; Hung, Chung-Jye; Huang, Ching Ying; Wong, Kit Hong; Tsai, Yi Ju

    2017-01-01

    This study adopts social capital theory and transaction cost theory to explore the feasibility of an inter-organizational cross-hospital electronic medical records (EMR) exchange system, and the factors that affect its adoption. The concept of value co-creation is also used to assess such a system, and its influence on the performance of participating medical institutes. This research collected 330 valid paper-based questionnaires from the medical staff of various institutes. The results showed that social interaction ties and shared vision positively affected medical institutes' willingness to adopt the EMR exchange system, while asset specificity and uncertainty increased the related transaction costs. With a greater willingness to invest in relation-specific assets and to meet the related transaction costs, this behavior lead to an increase in medical IT value, as well as better results for the related medical institutes, medical staff, and patients. Therefore, this study suggests that such institutes encourage their medical staff to participate in seminars or reunions in order to develop their professional and social networks, and set up clear schedules and desire for expected effects when introducing the cross-hospital EMR exchange system. Copyright © 2016 Elsevier Ireland Ltd. All rights reserved.

  6. A Global Survey and Review of the Determinants of Transaction Costs of Forestry Carbon Projects

    NARCIS (Netherlands)

    Phan, D.T.H.; Brouwer, Roy; Davidson, M.D.

    2017-01-01

    Reducing carbon emissions in the forestry sector by means of market-based schemes is considered a cost-effective measure for tackling climate change impacts. However, the transaction costs (TCs) involved are typically unknown or unquantified and therefore often neglected. In this study three types

  7. A Global Survey and Review of the Determinants of Transaction Costs of Forestry Carbon Projects

    NARCIS (Netherlands)

    Phan, T.-H.D.; Brouwer, R.; Davidson, M.D.

    Reducing carbon emissions in the forestry sector by means of market-based schemes is considered a cost-effective measure for tackling climate change impacts. However, the transaction costs (TCs) involved are typically unknown or unquantified and therefore often neglected. In this study three types

  8. Hospitals' vertical integration into skilled nursing: a rational approach to controlling transaction costs.

    Science.gov (United States)

    Lehrman, S; Shore, K K

    1998-01-01

    Using 1985 and 1988 American Hospital Association data, this study examines 1,523 hospitals nationwide and concludes that hospitals' ownership of skilled nursing facilities helps minimize the transaction costs associated with post-acute patient transfers while productively using empty hospital beds. Unfortunately, such ownership creates complex cost, quality, and accessibility trade-offs in terms of the skilled nursing care provided.

  9. Private-Sector Cleanup Expenditures and Transaction Costs at 18 Superfund Sites (1993)

    Science.gov (United States)

    Superfund allows the government either to clean up a site and recover its cost from the potentially responsible parties (PRPs) or to require the PRPs to undertake the cleanup themselves. This study examines private-sector expenditures and transaction-costs

  10. An empirical application of transaction-costs theory to organizational design characteristics.

    Science.gov (United States)

    Williams, S

    2000-01-01

    The environmental uncertainty component of transaction-costs theory was used to predict the organizational structural characteristics of size (number of employees) and horizontal differentiation (number of vice presidents) using financial and management information from the COMPACT DISCLOSURE data base (which contains the most recent annual and periodic reports for more than 12,000 public companies). Organizations were categorized as low- or high-uncertainty industries according to Dess and Beard's (1984) Dynamism Scale, and net sales volume was controlled. As predicted, high-uncertainty companies had significantly higher horizontal differentiation than low-uncertainty firms, a finding that supports the transaction-costs expectation that organizations may require more departments or personnel to cope with increasing uncertainty. Surprisingly, low-uncertainty firms were found to have significantly more employees than high-uncertainty organizations, which is the opposite of what transaction-costs theory predicts. Possible explanations for this unexpected finding and further potential limitations are discussed.

  11. Influence of transaction costs on controlling activity of territorial taxation bodies

    Directory of Open Access Journals (Sweden)

    Natalya A. Bondareva

    2016-01-01

    Full Text Available Objective to disclose and justify transaction costs of controlling activities of the territorial taxation bodies and their impact on tax control under the need for effective functioning and optimal decision making with a view of reducing the state expenditures on tax control. Methods general scientific synthesis deduction induction generalization testing interviewing observation forecasting scientific abstraction statistical analysis logic and methods of grouping and classification expert assessment. Results the analysis and grouping of transaction costs of controlling activities of the territorial taxation bodies have been carried out. It was found that the most time and resource consuming are onsite tax inspections. The factors that have a significant impact on the efficiency of tax control were revealed. It is proved that the release of material and time resources contributes to the transformation of the tax bodies. Scientific novelty the main problem of implementation of the onsite tax control is its costs. The existing studies do not give a systematic list of tax control costs of the territorial tax bodies in general and transaction costs of tax control in particular. The author shows that the reduction of transaction costs as factors of influence on the tax control will free up the working time of the inspectors and will bring economic benefits and also will allow to consolidate territorial tax bodies and change the status of a tax inspector. Practical significance reducing the cost of tax control is becoming increasingly important in terms of saving financial resources of the state.

  12. Transaction costs and technological development: The case of the Danish fruit and vegetable industry

    DEFF Research Database (Denmark)

    Foss, Kirsten

    1996-01-01

    It is argued that technological change can be understood in terms of attempts to reduce transaction costs as well as production costs. Two types of paths of technological development are identified: a production cost minimizing path, and a transac cost minimizing path. The creation of new...... technological opportunites underlying the path of production-cost.minimizing depends on the emergence of problems of optimizing the performance of products and processing technology. The exploitation of su opportunities may easily be interpreted within a production perspective since the economic consequences...... would be reduced production costs. The creation of new technological opportunities within the transaction-costs-minimizing path depends on th continual emergence of problems related to the control of variablility in product quality or performance. The economic consequence from exploiting...

  13. Optimal investment strategies and hedging of derivatives in the presence of transaction costs (Invited Paper)

    Science.gov (United States)

    Muratore-Ginanneschi, Paolo

    2005-05-01

    Investment strategies in multiplicative Markovian market models with transaction costs are defined using growth optimal criteria. The optimal strategy is shown to consist in holding the amount of capital invested in stocks within an interval around an ideal optimal investment. The size of the holding interval is determined by the intensity of the transaction costs and the time horizon. The inclusion of financial derivatives in the models is also considered. All the results presented in this contributions were previously derived in collaboration with E. Aurell.

  14. Lookback Option Pricing with Fixed Proportional Transaction Costs under Fractional Brownian Motion.

    Science.gov (United States)

    Sun, Jiao-Jiao; Zhou, Shengwu; Zhang, Yan; Han, Miao; Wang, Fei

    2014-01-01

    The pricing problem of lookback option with a fixed proportion of transaction costs is investigated when the underlying asset price follows a fractional Brownian motion process. Firstly, using Leland's hedging method a partial differential equation satisfied by the value of the lookback option is derived. Then we obtain its numerical solution by constructing a Crank-Nicolson format. Finally, the effectiveness of the proposed form is verified through a numerical example. Meanwhile, the impact of transaction cost rate and volatility on lookback option value is discussed.

  15. TRANSACTION COSTS WITHIN THE INDIVIDUAL AND COOPERATIVE APPLE PRODUCERS IN PRESPA REGION, THE REPUBLIC OF MACEDONIA

    Directory of Open Access Journals (Sweden)

    Aleksandra ANGELOSKA

    2018-02-01

    Full Text Available Apple production in the Republic of Macedonia is an important sector that highly contributes to theeconomy in terms of employment and income, especially for the small farmers in Prespa Region. Despitecooperatives’ efforts and governmental support to attract members through the provision of inputs,technical advices and other incentives to farmers, membership adherence is low and slow. The TransactionCost Economics Theory (TCE provided the basis for this study where the choice is conditioned by relativecomparative advantage in terms of lower transaction costs. Based on the research, following conclusions are underlined: a. from the perspective of farmers andthe cooperatives there are factors that positively influence the choice of cooperative membership; b. fromthe cooperative’s side, some of the positive influences are its regular flow of price information, constanttechnical advices and secured market; c for farmers who aim at increasing production and improving theirincomes, membership to cooperative signifies security of accessing cheaper inputs especially chemicalfertiliser, security of market for the produced apples and higher frequency of transaction cost. Farmers’choices are not exclusive to one type of structure or the other. Farmers can transact with the cooperative andtrader at the same time, influenced by the differences in the price among the “Idared” and “varieties”. Bothof them, members and non-members are limited connected to the “middlemen” in choice of transactions.

  16. Economic Assessment of Network-Constrained Transactive Energy for Managing Flexible Demand in Distribution Systems

    Directory of Open Access Journals (Sweden)

    Junjie Hu

    2017-05-01

    Full Text Available The increasing number of distributed energy resources such as electric vehicles and heat pumps connected to power systems raises operational challenges to the network operator, for example, introducing grid congestion and voltage deviations in the distribution network level if their operations are not properly coordinated. Coordination and control of a large number of distributed energy resources requires innovative approaches. In this paper, we follow up on a recently proposed network-constrained transactive energy (NCTE method for scheduling of electric vehicles and heat pumps within a retailer’s aggregation at distribution system level. We extend this method with: (1 a new modeling technique that allows the resulting congestion price to be directly interpreted as a locational marginal pricing in the system; (2 an explicit analysis of the benefits and costs of different actors when using the NCTE method in the system, given the high penetration of distributed energy resources. This paper firstly describes the NCTE-based distribution system that introduces a new interacting scheme for actors at the distribution system level. Then, technical modeling and economic interpretation of the NCTE-based distribution system are described. Finally, we show the benefits and costs of different actors within the NCTE-based distribution system.

  17. Do the Rich Get Richer? An Empirical Analysis of the Bitcoin Transaction Network

    Science.gov (United States)

    Kondor, Dániel; Pósfai, Márton; Csabai, István; Vattay, Gábor

    2014-01-01

    The possibility to analyze everyday monetary transactions is limited by the scarcity of available data, as this kind of information is usually considered highly sensitive. Present econophysics models are usually employed on presumed random networks of interacting agents, and only some macroscopic properties (e.g. the resulting wealth distribution) are compared to real-world data. In this paper, we analyze Bitcoin, which is a novel digital currency system, where the complete list of transactions is publicly available. Using this dataset, we reconstruct the network of transactions and extract the time and amount of each payment. We analyze the structure of the transaction network by measuring network characteristics over time, such as the degree distribution, degree correlations and clustering. We find that linear preferential attachment drives the growth of the network. We also study the dynamics taking place on the transaction network, i.e. the flow of money. We measure temporal patterns and the wealth accumulation. Investigating the microscopic statistics of money movement, we find that sublinear preferential attachment governs the evolution of the wealth distribution. We report a scaling law between the degree and wealth associated to individual nodes. PMID:24505257

  18. Do the rich get richer? An empirical analysis of the Bitcoin transaction network.

    Directory of Open Access Journals (Sweden)

    Dániel Kondor

    Full Text Available The possibility to analyze everyday monetary transactions is limited by the scarcity of available data, as this kind of information is usually considered highly sensitive. Present econophysics models are usually employed on presumed random networks of interacting agents, and only some macroscopic properties (e.g. the resulting wealth distribution are compared to real-world data. In this paper, we analyze Bitcoin, which is a novel digital currency system, where the complete list of transactions is publicly available. Using this dataset, we reconstruct the network of transactions and extract the time and amount of each payment. We analyze the structure of the transaction network by measuring network characteristics over time, such as the degree distribution, degree correlations and clustering. We find that linear preferential attachment drives the growth of the network. We also study the dynamics taking place on the transaction network, i.e. the flow of money. We measure temporal patterns and the wealth accumulation. Investigating the microscopic statistics of money movement, we find that sublinear preferential attachment governs the evolution of the wealth distribution. We report a scaling law between the degree and wealth associated to individual nodes.

  19. Do the rich get richer? An empirical analysis of the Bitcoin transaction network.

    Science.gov (United States)

    Kondor, Dániel; Pósfai, Márton; Csabai, István; Vattay, Gábor

    2014-01-01

    The possibility to analyze everyday monetary transactions is limited by the scarcity of available data, as this kind of information is usually considered highly sensitive. Present econophysics models are usually employed on presumed random networks of interacting agents, and only some macroscopic properties (e.g. the resulting wealth distribution) are compared to real-world data. In this paper, we analyze Bitcoin, which is a novel digital currency system, where the complete list of transactions is publicly available. Using this dataset, we reconstruct the network of transactions and extract the time and amount of each payment. We analyze the structure of the transaction network by measuring network characteristics over time, such as the degree distribution, degree correlations and clustering. We find that linear preferential attachment drives the growth of the network. We also study the dynamics taking place on the transaction network, i.e. the flow of money. We measure temporal patterns and the wealth accumulation. Investigating the microscopic statistics of money movement, we find that sublinear preferential attachment governs the evolution of the wealth distribution. We report a scaling law between the degree and wealth associated to individual nodes.

  20. Barriers to Building Energy Efficiency (BEE) promotion: A transaction costs perspective

    Science.gov (United States)

    Qian Kun, Queena

    Worldwide, buildings account for a surprisingly high 40% of global energy consumption, and the resulting carbon footprint significantly exceeds that of all forms of transportation combined. Large and attractive opportunities exist to reduce buildings' energy use at lower costs and higher returns than in other sectors. This thesis analyzes the concerns of the market stakeholders, mainly real estate developers and end-users, in terms of transaction costs as they make decisions about investing in Building Energy Efficiency (BEE). It provides a detailed analysis of the current situation and future prospects for BEE adoption by the market's stakeholders. It delineates the market and lays out the economic and institutional barriers to the large-scale deployment of energy-efficient building techniques. The aim of this research is to investigate the barriers raised by transaction costs that hinder market stakeholders from investing in BEES. It explains interactions among stakeholders in general and in the specific case of Hong Kong as they consider transaction costs. It focuses on the influence of transaction costs on the decision-making of the stakeholders during the entire process of real estate development. The objectives are: 1) To establish an analytical framework for understanding the barriers to BEE investment with consideration of transaction costs; 2) To build a theoretical game model of decision making among the BEE market stakeholders; 3) To study the empirical data from questionnaire surveys of building designers and from focused interviews with real estate developers in Hong Kong; 4) To triangulate the study's empirical findings with those of the theoretical model and analytical framework. The study shows that a coherent institutional framework needs to be established to ensure that the design and implementation of BEE policies acknowledge the concerns of market stakeholders by taking transaction costs into consideration. Regulatory and incentive options

  1. A case study of the Mexican avocado industry based on transaction costs and supply chain management practices

    NARCIS (Netherlands)

    Arana Coronado, J.J.; Bijman, J.; Omta, S.W.F.; Oude Lansink, A.

    2015-01-01

    The present study is based on transaction cost economics and supply chain management to analyze how the adoption of supply chain management practices in the Mexican avocado industry reduces the transaction costs between producers and packers. Two sources of information are used: interviews from

  2. Do the Rich Get Richer? An Empirical Analysis of the Bitcoin Transaction Network

    OpenAIRE

    Kondor, Dániel; Pósfai, Márton; Csabai, István; Vattay, Gábor

    2014-01-01

    The possibility to analyze everyday monetary transactions is limited by the scarcity of available data, as this kind of information is usually considered highly sensitive. Present econophysics models are usually employed on presumed random networks of interacting agents, and only macroscopic properties (e.g. the resulting wealth distribution) are compared to real-world data. In this paper, we analyze BitCoin, which is a novel digital currency system, where the complete list of transactions is...

  3. A Bilevel Scheduling Approach for Modeling Energy Transaction of Virtual Power Plants in Distribution Networks

    Directory of Open Access Journals (Sweden)

    F. Nazari

    2017-03-01

    Full Text Available By increasing the use of distributed generation (DG in the distribution network operation, an entity called virtual power plant (VPP has been introduced to control, dispatch and aggregate the generation of DGs, enabling them to participate either in the electricity market or the distribution network operation. The participation of VPPs in the electricity market has made challenges to fairly allocate payments and benefits between VPPs and distribution network operator (DNO. This paper presents a bilevel scheduling approach to model the energy transaction between VPPs and DNO.  The upper level corresponds to the decision making of VPPs which bid their long- term contract prices so that their own profits are maximized and the lower level represents the DNO decision making to supply electricity demand of the network by minimizing its overall cost. The proposed bilevel scheduling approach is transformed to a single level optimizing problem using its Karush-Kuhn-Tucker (KKT optimality conditions. Several scenarios are applied to scrutinize the effectiveness and usefulness of the proposed model. 

  4. 1981 transactions of the American Association of Cost Engineers

    International Nuclear Information System (INIS)

    Anon.

    1981-01-01

    The 1981 proceedings of the American Association of Cost Engineers includes papers on economic evaluation of energy projects, coal-oil mixture FPL's Sanford COM demonstration project, conception and evaluation of a large industrial project by using linear programming, geothermal power generation, conceptual estimating of power plants, management of nuclear retrofit, the future of shale oil, cost engineering in the Arabian Gulf, and the application of probabilistic cost estimating to an advanced energy system, among other topics

  5. Proportional Transaction Costs in the Robust Control Approach to Option Pricing: The Uniqueness Theorem

    Energy Technology Data Exchange (ETDEWEB)

    El Farouq, Naïma, E-mail: naima.elfarouq@univ-bpclermont.fr [Université Blaise Pascal (Clermont-Ferrand II) (France); Bernhard, Pierre, E-mail: pierre.bernhard@inria.fr [INRIA Sophia Antipolis-Méditerranée (France)

    2015-10-15

    We prove the missing uniqueness theorem for the viscosity solution of a quasi-variational inequality related to a minimax impulse control problem modeling the option pricing with proportional transactions costs. This result makes our robust control approach of option pricing in the interval market model essentially complete.

  6. A retrospective on : Institutional, cultural and transaction cost influences on entry mode choice and performance

    NARCIS (Netherlands)

    Brouthers, K.D.

    For several decades researchers have focused on the entry mode decision because it is critically important for firms expanding abroad. Despite this attention we still lack clear tools to help managers make effective entry decisions. In this paper I review past research exploring transaction cost and

  7. SME international entry mode choice and performance : A transaction cost perspective

    NARCIS (Netherlands)

    Brouthers, K.D.; Nakos, G.

    2004-01-01

    Although small and medium sized enterprises (SMEs) account for a significant portion of international trade, little is know about how they make international entry mode decisions. Transaction cost theory has been widely used to study entry mode selection for large firms. Here we apply the theory to

  8. Proportional Transaction Costs in the Robust Control Approach to Option Pricing: The Uniqueness Theorem

    International Nuclear Information System (INIS)

    El Farouq, Naïma; Bernhard, Pierre

    2015-01-01

    We prove the missing uniqueness theorem for the viscosity solution of a quasi-variational inequality related to a minimax impulse control problem modeling the option pricing with proportional transactions costs. This result makes our robust control approach of option pricing in the interval market model essentially complete

  9. Pricing European option with transaction costs under the fractional long memory stochastic volatility model

    Science.gov (United States)

    Wang, Xiao-Tian; Wu, Min; Zhou, Ze-Min; Jing, Wei-Shu

    2012-02-01

    This paper deals with the problem of discrete time option pricing using the fractional long memory stochastic volatility model with transaction costs. Through the 'anchoring and adjustment' argument in a discrete time setting, a European call option pricing formula is obtained.

  10. A comparative study of transaction costs of payments for forest ecosystem services in Vietnam

    NARCIS (Netherlands)

    Phan, Thu Ha Dang; Brouwer, Roy; Davidson, Marc David; Hoang, Long Phi

    2017-01-01

    Two payments for forest ecosystem services (PFES) schemes under one common legal-institutional coordination mechanism but different historical-institutional background and organizational design are analyzed to measure and explain their transaction costs (TC). Data on TC related to payment

  11. A comparative study of transaction costs of payments for forest ecosystem services in Vietnam

    NARCIS (Netherlands)

    Phan, D.T.H.; Brouwer, R.; Long, H.P.; Davidson, M.D.

    2017-01-01

    Two payments for forest ecosystemservices (PFES) schemes under one common legal-institutional coordination mechanism but different historical-institutional background and organizational design are analyzed to measure and explain their transaction costs (TC). Data on TC related to payment transfers

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

    NARCIS (Netherlands)

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

    2008-01-01

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

  13. Analysis of transaction costs for the supply and demand for wood fuels; Transaktionskostnadsanalys av utbud och efterfraagan paa traedbraenslen. Slutrapport

    Energy Technology Data Exchange (ETDEWEB)

    Roos, A.; Bohlin, F.; Hektor, B.; Hillring, B.; Parikka, M. [Swedish Univ. of Agricultural Sciences, Uppsala (Sweden). Dept. of Forest Management and Products

    2001-12-01

    The objective of the project was to analyse the importance of transaction costs for the supply and demand for woodfuels in Sweden. The project covered the period of great expansion of woodfuel use in the district heating sector, from 1980 until present. It uses literature studies, case studies and surveys. New institutional theory and transaction cost theory was applied. Several transaction costs have influenced both supply from the forest owners and demand from the main users, the district heating plants. Many of these transaction costs have been reduced by the market players, through learning, technical improvements and institutional innovations. Actions to reduce transaction costs have accompanied technical improvements of handling and transport. Strategies for woodfuel procurement have also been analysed. Important conclusions of the project for a change in the energy system are presented.

  14. Managing of transaction costs of agricultural enterprises in the context of raising the level of economic security of the company

    Directory of Open Access Journals (Sweden)

    Odnoshevnaya Olga Aleksandrovna

    2017-03-01

    Full Text Available The purpose of the article deals with the analysis of the concept transaction costs incurred by the agricultural enterprise in the course of their activities. To investigate the effect of transaction costs in the context of improving the economic security of the enterprise. Elements scientific novelty. As element of scientific novelty in the work optimization structure of the formative groups of transaction costs agriculture costs for enterprises is presented . With a view of the effectiveness increase business processes management in the enterprise optimization and provision expenses we consider it necessary to the select transaction costs in separate classification group. As a result of conducted work been detected was the number of research transaction costs agriculture enterprise and recommended conducted work such costs of recommended way. Theoretically was studied classification features of transaction costs for agricultural enterprises, as a condition for the full impact of their recording and that the state of economic security. The practical significance. For the study, the results justified the conclusion that the transaction costs – is a special category of costs, which requires a separate account management for the improvement of its economic security.

  15. Identifying Interbank Loans, Rates, and Claims Networks from Transactional Data

    NARCIS (Netherlands)

    Leon Rincon, C.E.; Cely, Jorge; Cadena, Carlos

    2015-01-01

    We identify interbank (i.e. non-collateralized) loans from the Colombian large-value payment system by implementing Furfine’s method. After identifying interbank loans from transactional data we obtain the interbank rates and claims without relying on financial institutions’ reported data.

  16. Fixed transaction costs and modelling limited dependent variables

    NARCIS (Netherlands)

    Hempenius, A.L.

    1994-01-01

    As an alternative to the Tobit model, for vectors of limited dependent variables, I suggest a model, which follows from explicitly using fixed costs, if appropriate of course, in the utility function of the decision-maker.

  17. Dynamic Trading with Predictable Returns and Transaction Costs

    DEFF Research Database (Denmark)

    Garleanu, Nicolae; Heje Pedersen, Lasse

    We derive a closed-form optimal dynamic portfolio policy when trading is costly and security returns are predictable by signals with dierent mean-reversion speeds.The optimal strategy is characterized by two principles: 1) aim in front of the target and 2) trade partially towards the current aim...

  18. Dynamic Trading with Predictable Returns and Transaction Costs

    DEFF Research Database (Denmark)

    Gârleanu, Nicolae; Heje Pedersen, Lasse

    2013-01-01

    We derive a closed-form optimal dynamic portfolio policy when trading is costly and security returns are predictable by signals with different mean-reversion speeds. The optimal strategy is characterized by two principles: (1) aim in front of the target, and (2) trade partially toward the current...

  19. Reducing carbon transaction costs in community based forest management

    NARCIS (Netherlands)

    Skutsch, Margaret

    The paper considers the potential for community based forest management (of existing forests) in developing countries, as a future CDM strategy, to sequester carbon and claim credits in future commitment periods. This kind of forestry is cost effective, and should bring many more benefits to local

  20. Contracting for health services in New Zealand: a transaction cost analysis.

    Science.gov (United States)

    Ashton, T

    1998-02-01

    The splitting of the functions of purchaser and provider in the New Zealand health system in 1993 necessitated the use of explicit contracts between the two parties. This paper examines contracting experiences during the first two years of operation. The study focuses on four services: rest homes, primary care clinics, surgical services, and acute mental health services. The insights of transaction cost economics form the theoretical framework. The objective of this study was to examine whether the transaction costs associated with contracting vary across the four different services, and whether different types of contracts and contractual relationships are emerging as transactors attempt to reduce these costs. Information was collected in a series of 53 interviews with purchasers and providers, together with any relevant documentation. The results suggest that the costs of contracting are indeed greater for some services than for others. Other variables such as the style of negotiations, the type and specificity of contracts and the degree of monitoring also differ across the four services. At this early stage of the reform process, there was little evidence that purchasers and providers were attempting to reduce transaction costs by negotiating more flexible, longer-term, relational contracts. The main benefit from contracting to date has been improved accountability of service providers.

  1. Transaction costs and marketing decision: a case study of smallholder tomato farmers in Makurdi, Nigeria

    Directory of Open Access Journals (Sweden)

    Samuel O. Osebeyo

    2014-01-01

    Full Text Available This study examined the impact of transaction costs and other institutional and socio-economic factors on smallholder tomato farmers marketing decision in Makurdi Local Government Area, Benue State, Nigeria. The study used a survey data from 165 randomly selected farm households. Using a Logit model, the study found that the probability of market participation is significantly affected by transaction cost variables (namely access to market information, market distance and transport cost. Education and dependency ratio also had significant effect on decision to sell in the market. While access to market information and education significantly increase the probability of tomato farmers’ participation in the market, transport cost, market distance and dependency ratio significantly decrease the probability. The study stresses the need for government intervention by means of providing the necessary infrastructures that will help to reduce transaction costs and thus increase farmers’ participation in the market. Also policies to provide adequate and timely information about the market situations as well as polices to enhance access to education are advocated.

  2. Are Public-Private Partnerships an Appropriate Governance Structure for Power Plants? A Transaction Cost Analysis

    Science.gov (United States)

    Ho, S. Ping; Hsu, Yaowen

    2015-04-01

    In order to meet the requirements of the rapid economic growth, many countries demand an increasing number of power plants to meet the increasing electricity usage. Since high capital requirements of power plants present a big issue for these countries, PPPs have been considered an alternative to provide power plant infrastructure. In particular, in emerging or developing countries, PPPs may be the fastest way to provide the infrastructure needed. However, while PPPs are a promising alternative to providing various types of infrastructure, many failed power plant PPP projects have made it evident that PPPs, under certain situations, can be very costly or even a wrong choice of governance structure. While the higher efficiency due to better pooling of resources is greatly emphasized in Public-Private Partnerships (PPPs), the embedded transaction inefficiencies are often understated or even ignored. Through the lens of Transaction Cost Economics (TCE), this paper aims to answer why and when PPPs may become a costly governance structure for power plants. Specifically, we develop a TCE-based theory of PPPs as a governance structure. This theory suggests that three major opportunism problems embedded in infrastructure PPPs are possible to cause substantial transaction costs and render PPPs a costly governance structure. The three main opportunism problems are principal-principal problem, firm's hold-up problem, and government-led hold-up problem. Moreover, project and institutional characteristics that may lead to opportunism problems are identified. Based on these characteristics, an opportunism-focused transaction cost analysis (OTCA) for PPPs as a governance structure is proposed to supplement the current practice of PPP feasibility analysis. As a part of theory development, a case study of PPP power plants is performed to evaluate the proposed theory and to illustrate how the proposed OTCA can be applied in practice. Policies and administration strategies for power

  3. Transaction cost economics and the role of national culture : a test of hypotheses based on Inglehart and Hofstede

    NARCIS (Netherlands)

    Steenkamp, J.E.B.M.; Geyskens, I.

    2012-01-01

    Transaction cost economics (TCE) is probably the most widely accepted theory on how firms can gain competitive advantage through efficient organization of their economic transactions. However, by focusing on the competitive environment in which companies operate, it abstracts from the cultural

  4. Concave utility, transaction costs, and risk in measuring discounting of delayed rewards.

    Science.gov (United States)

    Kirby, Kris N; Santiesteban, Mariana

    2003-01-01

    Research has consistently found that the decline in the present values of delayed rewards as delay increases is better fit by hyperbolic than by exponential delay-discounting functions. However, concave utility, transaction costs, and risk each could produce hyperbolic-looking data, even when the underlying discounting function is exponential. In Experiments 1 (N = 45) and 2 (N = 103), participants placed bids indicating their present values of real future monetary rewards in computer-based 2nd-price auctions. Both experiments suggest that utility is not sufficiently concave to account for the superior fit of hyperbolic functions. Experiment 2 provided no evidence that the effects of transaction costs and risk are large enough to account for the superior fit of hyperbolic functions.

  5. Transaction cost determinants and ownership-based entry mode choice: a meta-analytical review

    OpenAIRE

    Hongxin Zhao; Yadong Luo; Taewon Suh

    2004-01-01

    Entry mode choice is a critical ingredient of international entry strategies, and has been voluminously examined in the field. The findings, however, are very mixed, especially with respect to transaction-cost-related factors in determining the ownership-based entry mode choice. This study conducted a meta-analysis to quantitatively summarize the literature and empirically generalize more conclusive findings. Based on the 106 effect sizes of 38 empirical studies, the meta-analysis shows that ...

  6. To make or buy patient safety solutions: a resource dependence and transaction cost economics perspective.

    Science.gov (United States)

    Fareed, Naleef; Mick, Stephen S

    2011-01-01

    For almost a decade, public and private organizations have pressured hospitals to improve their patient safety records. Since 2008, the Centers for Medicare & Medicaid Services has no longer been reimbursing hospitals for secondary diagnoses not reported during the point of admission. This ruling has motivated some hospitals to engage in safety-oriented programs to decrease adverse events. This study examined which hospitals may engage in patient safety solutions and whether they create these patient safety solutions within their structures or use suppliers in the market. We used a theoretical model that incorporates the key constructs of resource dependence theory and transaction cost economics theory to predict a hospital's reaction to Centers for Medicare & Medicaid Services "never event" regulations. We present propositions that speculate on how forces conceptualized from the resource dependence theory may affect adoption of patient safety innovations and, when they do, whether the adopting hospitals will do so internally or externally according to the transaction cost economics theory. On the basis of forces identified by the resource dependence theory, we predict that larger, teaching, safety net, horizontally integrated, highly interdependent, and public hospitals in concentrated, high public payer presence, competitive, and resource-rich environments will be more likely to engage in patient safety innovations. Following the logic of the transaction cost economics theory, we predict that of the hospitals that react positively to the never event regulation, most will internalize their innovations in patient safety solutions rather than approach the market, a choice that helps hospitals economize on transaction costs. This study helps hospital managers in their strategic thinking and planning in relation to current and future regulations related to patient safety. For researchers and policy analysts, our propositions provide the basis for empirical testing.

  7. The admissible portfolio selection problem with transaction costs and an improved PSO algorithm

    Science.gov (United States)

    Chen, Wei; Zhang, Wei-Guo

    2010-05-01

    In this paper, we discuss the portfolio selection problem with transaction costs under the assumption that there exist admissible errors on expected returns and risks of assets. We propose a new admissible efficient portfolio selection model and design an improved particle swarm optimization (PSO) algorithm because traditional optimization algorithms fail to work efficiently for our proposed problem. Finally, we offer a numerical example to illustrate the proposed effective approaches and compare the admissible portfolio efficient frontiers under different constraints.

  8. Bureaucratic limits of firm size: Empirical analysis using transaction cost economics

    OpenAIRE

    Canbäck, Staffan

    2002-01-01

    This thesis was submitted for the degree of Doctor of Business Administration and awarded by Brunel University on behalf of Henley Management College This thesis tests Oliver Williamson’s proposition that transaction cost economics can explain the limits of firm size. Williamson suggests that diseconomies of scale are manifested through four interrelated factors: atmospheric consequences due to specialisation, bureaucratic insularity, incentive limits of the employment relation and communi...

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

    International Nuclear Information System (INIS)

    Spanjer, Aldo R.

    2009-01-01

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

  10. Spreading the Word: Transaction Cost Economics in the Conversation of Economics: Spreading the Word

    OpenAIRE

    Pessali, Huascar; Fernández, Ramón

    2012-01-01

    Transaction cost economics is a key topic in many conversations in business and economics related disciplines, much as a result of Oliver Williamson's intellectual crusade. By claiming a "distinct worldview," he develops arguments of association and differentiation to established worldviews, like traditional microeconomics, earlier institutionalism, Austrian and radical economics, and also within the new institutional economics itself, in order to advance his theory. His resourcefulness defie...

  11. Non-Linear Transaction Costs Inclusion in Mean-Variance Optimization

    Directory of Open Access Journals (Sweden)

    Christian Johannes Zimmer

    2005-12-01

    Full Text Available In this article we propose a new way to include transaction costs into a mean-variance portfolio optimization. We consider brokerage fees, bid/ask spread and the market impact of the trade. A pragmatic algorithm is proposed, which approximates the optimal portfolio, and we can show that is converges in the absence of restrictions. Using Brazilian financial market data we compare our approximation algorithm with the results of a non-linear optimizer.

  12. Multi-objective possibilistic model for portfolio selection with transaction cost

    Science.gov (United States)

    Jana, P.; Roy, T. K.; Mazumder, S. K.

    2009-06-01

    In this paper, we introduce the possibilistic mean value and variance of continuous distribution, rather than probability distributions. We propose a multi-objective Portfolio based model and added another entropy objective function to generate a well diversified asset portfolio within optimal asset allocation. For quantifying any potential return and risk, portfolio liquidity is taken into account and a multi-objective non-linear programming model for portfolio rebalancing with transaction cost is proposed. The models are illustrated with numerical examples.

  13. The Transaction Cost Benefits of Electronic Patent Licensing Platforms: A Discussion at the Example of the PatentBooks Model

    OpenAIRE

    Ghafele, Roya; Gibert, Benjamin

    2011-01-01

    Current mechanisms to compensate inventors and improve legal access to their inventions remain ineffective. Manufacturers encounter significant transaction costs in the process of licensing the multitude of patent rights implicated in their products. High-technology product manufacturing requires access to a diverse pool of technologies that are owned by different organizations all over the world. The transaction costs of licensing these disparate rights are inhibiting unlicensed manufacturer...

  14. Delivering Left-Skewed Portfolio Payoff Distributions in the Presence of Transaction Costs

    Directory of Open Access Journals (Sweden)

    Jacek B Krawczyk

    2015-08-01

    Full Text Available For pension-savers, a low payoff is a financial disaster. Such investors will most likely prefer left-skewed payoff distributions over right-skewed payoff distributions. We explore how such distributions can be delivered. Cautious-relaxed utility measures are cautious in ensuring that payoffs don’t fall much below a reference value, but relaxed about exceeding it. We find that the payoff distribution delivered by a cautious-relaxed utility measure has appealing features which payoff distributions delivered by traditional utility functions don’t. In particular, cautious-relaxed distributions can have the mass concentrated on the left, hence be left-skewed. However, cautious-relaxed strategies prescribe frequent portfolio adjustments which may be expensive if transaction costs are charged. In contrast, more traditional strategies can be time-invariant. Thus we investigate the impact of transaction costs on the appeal of cautious-relaxed strategies. We find that relatively high transaction fees are required for the cautious-relaxed strategy to lose its appeal. This paper contributes to the literature which compares utility measures by the payoff distributions they produce and finds that a cautious-relaxed utility measure will deliver payoffs that many investors will prefer.

  15. Sequential Construction of Costly Networks

    Energy Technology Data Exchange (ETDEWEB)

    Gutfraind, Alexander [Los Alamos National Laboratory

    2011-01-01

    Natural disasters or attacks often disrupt infrastructure networks requiring a costly recovery. This motivates an optimization problem where the objecitve is to construct the nodes of a graph G(V;E), and the cost of each node is dependent on the number of its neighbors previously constructed, or more generally, any properties of the previously-completed subgraph. In this optimization problem the objective is to find a permutation of the nodes which results in the least construction cost. We prove that in the case where the cost of nodes is a convex function in the number of neighbors, the optimal construction sequence is to start at a single node and move outwards. We also introduce algorithms and heuristics for solving various instances of the problem. Those methods can be applied to help reduce the cost of recovering from disasters as well as to plan the deployment of new network infrastructure.

  16. Towards measuring the transaction costs of co-management in Mkambati Nature Reserve, Eastern Cape, South Africa.

    Science.gov (United States)

    Blore, M L; Cundill, G; Mkhulisi, M

    2013-11-15

    During the last three decades, there has been an increased pursuit of participatory approaches to managing natural resources. In South Africa, this has been evident in the management of protected areas. In particular, land claims, which affect much of the conservation estate in South Africa, frequently result in co-management of protected areas by claimant communities and conservation agencies. This is occurring against a backdrop of declining state subsidies and growing expectations that South African conservation agencies will finance themselves while simultaneously stimulating local economic opportunities. In this context, it is important for co-management partners to understand and monitor the cost-effectiveness of management processes in achieving both the socio-economic and ecological targets of conservation management. Transaction costs are useful in gauging the cost-effectiveness of policies and institutions; however there is little methodological guidance for measuring transaction costs empirically. This study develops and tests a transaction costs model for a co-managed nature reserve in the Eastern Cape province of South Africa. Transaction costs were quantified by taking into account the total time spent in meetings annually, the daily opportunity cost of participants' time and the travel costs associated with attending such meetings. A key limitation in the development of this model was a lack of record keeping by the conservation agency. The model developed in this study offers a practical means for co-management partners in similar contexts to monitor how transaction costs change over time. Copyright © 2013 Elsevier Ltd. All rights reserved.

  17. A transaction costs analysis of changing contractual relations in the English NHS.

    Science.gov (United States)

    Marini, Giorgia; Street, Andrew

    2007-09-01

    The English National Health Service has replaced locally negotiated block contracting arrangements with a system of national prices to pay for hospital activity. This paper applies a transaction costs approach to quantify and analyse the nature of how contracting costs have changed as a consequence. Data collection was based on semi-structured interviews with key stakeholders from hospitals and Primary Care Trusts, which purchase hospital services. Replacing block contracting with activity based funding has led to lower costs of price negotiation, but these are outweighed by higher costs associated with volume control, of data collection, contract monitoring, and contract enforcement. There was consensus that the new contractual arrangements were preferable, but the benefits will have to be demonstrated formally in future.

  18. Business Service Outsourcing: An Evolution of Concentration on Core Business Concepts and Transaction Cost Economies

    Directory of Open Access Journals (Sweden)

    Ahmad H. Juma'h

    2000-08-01

    Full Text Available Present and evaluate the literature with respect to business service outsourcing (BSO, with a particular concentration on a common form of BSO, information technology (IT. The review defines the issues with respect to BSO in terms of drivers and motivations, as well as internal and external implications for BSO companies and their contractors. BSO is an evolution of transaction cost theory and concentration on core business concepts. Although, there are several attempts to explain when a company should outsource, these theoretical frameworks are difficult to apply in practice since satisfaction is a function of expectation and the identification of activities are core commodity is not straightforward.

  19. Modelling the Intention to Adopt Cloud Computing Services: A Transaction Cost Theory Perspective

    Directory of Open Access Journals (Sweden)

    Ogan Yigitbasioglu

    2014-11-01

    Full Text Available This paper uses transaction cost theory to study cloud computing adoption. A model is developed and tested with data from an Australian survey. According to the results, perceived vendor opportunism and perceived legislative uncertainty around cloud computing were significantly associated with perceived cloud computing security risk. There was also a significant negative relationship between perceived cloud computing security risk and the intention to adopt cloud services. This study also reports on adoption rates of cloud computing in terms of applications, as well as the types of services used.

  20. An Evolutionary Algorithm for Multiobjective Fuzzy Portfolio Selection Models with Transaction Cost and Liquidity

    Directory of Open Access Journals (Sweden)

    Wei Yue

    2015-01-01

    Full Text Available The major issues for mean-variance-skewness models are the errors in estimations that cause corner solutions and low diversity in the portfolio. In this paper, a multiobjective fuzzy portfolio selection model with transaction cost and liquidity is proposed to maintain the diversity of portfolio. In addition, we have designed a multiobjective evolutionary algorithm based on decomposition of the objective space to maintain the diversity of obtained solutions. The algorithm is used to obtain a set of Pareto-optimal portfolios with good diversity and convergence. To demonstrate the effectiveness of the proposed model and algorithm, the performance of the proposed algorithm is compared with the classic MOEA/D and NSGA-II through some numerical examples based on the data of the Shanghai Stock Exchange Market. Simulation results show that our proposed algorithm is able to obtain better diversity and more evenly distributed Pareto front than the other two algorithms and the proposed model can maintain quite well the diversity of portfolio. The purpose of this paper is to deal with portfolio problems in the weighted possibilistic mean-variance-skewness (MVS and possibilistic mean-variance-skewness-entropy (MVS-E frameworks with transaction cost and liquidity and to provide different Pareto-optimal investment strategies as diversified as possible for investors at a time, rather than one strategy for investors at a time.

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

    Energy Technology Data Exchange (ETDEWEB)

    Sathaye, Jayant; Murtishaw, Scott

    2004-11-23

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

  2. Il B2B e il paradigma dei costi di transazione (B2B and the Transaction Costs Paradigm

    Directory of Open Access Journals (Sweden)

    Pierluigi Sabbatini

    2012-04-01

    Full Text Available Business to Business (B2B Internet commerce causes a significant contraction of transaction costs. According to the Coase paradigm, we would thus expect a deverticalization of the industry and broader scope for anonymous market mechanisms. In reality, such expectations are not fully borne out by the facts. When the industrial structure is concentrated the B2Bgenerally loses its independence, and is owned by the firms which most contribute to its development, e.g. the ones able to bring the liquidity to it. The B2B governance mechanism established by these firms gives hierarchical mechanisms a role which they do not usually play in extensive, anonymous markets.         JEL Codes: D23, L86Keywords: Cost, Transaction Costs, Transactions

  3. Challenges in Delivering Green Building Projects: Unearthing the Transaction Costs (TCs

    Directory of Open Access Journals (Sweden)

    Queena K. Qian

    2015-03-01

    Full Text Available Delivering green building (GB projects involve some activities that are atypical in comparison with conventional buildings. Such new activities are characterized by uncertainty, and they incur hidden costs that have not been expected nor are they readily appreciated among the stakeholders. This paper develops a typology and chronology to examine the new activities that are associated with transaction costs (TCs in the real estate development process (REDP of green building. Through in-depth interviews with representatives from the major developers in Hong Kong who have experiences in GB practice, this study aims to unearth TCs involved at the critical stages of the REDP. Apart from reconfirming the early project planning stage as the most critical in the consideration of TCs, the study results also identified “extra legal liability risk of the GB product” as the major concern for any GB developer in Hong Kong. The key additional activities that bring significant TCs in developing GB are identified and compared to their traditional counterparts. In turn, project managers not only have to pursue overall cost management whilst winning more business, but they also have to pay particular attention to sustainability in order to minimize hidden societal costs. The study also provides a reference for governments and professionals that will aid in forming policy as well as advance the practice of the GB market by optimizing the societal costs.

  4. Efficiency in the United States electric industry: Transaction costs, deregulation, and governance structures

    Science.gov (United States)

    Peterson, Carl

    Transaction costs economics (TCE) posits that firms have an incentive to bypass the market mechanisms in situations where the cost of using the market is prohibitive. Vertical integration, among other governance mechanisms, can be used to minimize the transactions costs associated with the market mechanism. The study analyses different governance mechanisms, which range from complete vertical integration to the use of market mechanisms, for firms in the US electric sector. This sector has undergone tremendous change in the past decade including the introduction of retail competition in some jurisdictions. As a result of the push toward deregulation of the industry, vertically integration, while still significant in the sector, has steadily been replaced by alternative governance structures. Using a sample of 136 investor-owned electric utilities that reported data the US Federal Energy Regulatory Commission between 1996 and 2002, this study estimates firm level efficiency using Data Envelopment Analysis (DEA) and relates these estimates to governance structure and public policies. The analysis finds that vertical integration is positively related to firm efficiency, although in a non-linear fashion suggesting that hybrid governance structures tend to be associated with lower efficiency scores. In addition, while some evidence is found for negative short-term effects on firm efficiency from the choice to deregulate, this result is sensitive to DEA model choice. Further, competition in retail markets is found to be positively related to firm level efficiency, but the retreat from deregulation, which occurred after 2000, is negatively associated with firm-level efficiency. These results are important in the ongoing academic and public policy debates concerning deregulation of the electric section and indicate that vertical economies remain in the industry, but that competition has provided incentives for improving firm level efficiency.

  5. Risk preference, option pricing and portfolio hedging with proportional transaction costs

    International Nuclear Information System (INIS)

    Wang, Xiao-Tian; Li, Zhe; Zhuang, Le

    2017-01-01

    Highlights: • Scaling is a key factor in option pricing. • The model is theoretically analyzed and the results are new. • Some numerical examples are performed. • The implied-volatility-frown is affected by the risk preference and scaling. - Abstract: This paper is concerned in the option pricing and portfolio hedging in a discrete time case with the proportional transaction costs. Through the Monte Carlo simulations it has been shown that the fractal scaling and risk preference of traders have an important influence on the hedging performances in both option pricing and portfolio hedging in a discrete time case. In addition, the relation between preference of traders and implied volatility frown is discussed. We conclude that the risk preferences of traders play an important role in determining the shape of the implied-volatility-frown and the different options having the different hedging frequencies is another reason for the implied volatility frown.

  6. The Comparative Effects of Transaction Cost Economics and Resource Based View: A Technological Alliance Motivational Perspective

    Directory of Open Access Journals (Sweden)

    Hwan Jin Kim

    2016-06-01

    Full Text Available This paper examines the impact of two main alliance motivation theories, transaction cost economics (TCE and resource based view (RBV, on alliance processes among Korean manufacturing high-tech ventures. Results show that TCE and RBV are complimentarily explaining the formation of inter-firm alliances. TCE variables are more related with alliance partner characteristics while RBV is more linked with partner capabilities. Both show positive effects on performance. No significant effect is found on determining an alliance governance structure. While selecting appropriate technological alliance partners show positive effects on performance, no significant effect is found between alliance governance structure and performance. Factors of both theories impacting each alliance stage and analytical explanations of such impacts are discussed.

  7. The public promotion of wind energy in Spain from the transaction costs perspective 1986-2007

    International Nuclear Information System (INIS)

    Perez, Yannick; Ramos-Real, Francisco Javier

    2009-01-01

    This paper analyzes the success of wind energy in Spain from 1986 to 2007. Certain special characteristics have emerged in Spain that provide credibility to the feed-in tariff (FIT) device to promote this energy source. To explain this success, the analysis will focus on the intrinsic characteristics of FIT using the concepts of the transaction cost theory (TCE). Nevertheless, in this framework, special attention is placed on the role that specific political and institutional factors have played in providing stability to this instrument. Thanks to an early start and an on-going and generous FIT device, wind energy promotion for electricity has become a political success story in Spain. The main implication of this analysis is that this success is mainly due to the trade-off between stability and flexibility in the use of Spanish FIT. (author)

  8. Applying Insights from Transaction Cost Economics (TCE) to Improve DoD Cost Estimation

    National Research Council Canada - National Science Library

    Angelis, Diana I; Dillard, John; Franck, Raymond; Melese, Francois

    2007-01-01

    The purpose of this report is to explore the possibility of improving DoD cost estimation methods by including explanatory variables that capture the coordination and motivation problems associated with the program...

  9. Modeling the green building (GB) investment decisions of developers and end-users with transaction costs (TCs) considerations

    NARCIS (Netherlands)

    Qian, Q.K.; Chan, E.H.W.; Visscher, H.J.; Lehmann, S.

    2015-01-01

    The paper, through a “regenerative” lens, has focused upon a new conceptual game system involving transaction costs (TCs) for creating a more accessible green buildings (GB) market. Individual stakeholders steadfastly guard their own interests in any investment decision, which seldom considers any

  10. TRADE ENHANCEMENT CHARACTERISTICS OF DESSERT BANANA FRUITS AND ESTIMATES OF TRANSACTION COSTS IN OKIGWE METROPOLIS, IMO STATE NIGERIA

    Directory of Open Access Journals (Sweden)

    C. Ogbonna Emerole

    2013-07-01

    Full Text Available This study on trade enhancement Characteristics of sweet (dessert banana fruit and estimation of transaction costs was conducted in Okigwe Metropolis of Imo State, Nigeria. Stratified random sampling technique was adopted in selecting 80 respondents comprising 40 dessert banana traders (panelists and 40 dessert banana consumers. Monthly trade data was collected from the respondents using pretested semi-structured questionnaire during dry season (November-April and rain season (May-October for the year 2012. Data collected were subjected to descriptive statistical analysis; with transaction costs estimated as ex ante and ex post components. Hedonic pricing regression model was used in determining buyer socioeconomic/banana attributes that influenced willingness to pay price. Fruit characteristics that significantly enhanced trade of sweet banana in descending order were taste (3.83, fruit variety (3.57, and fruit skin colour (3.50. Other significant factors were level of ripeness (3.49, availability in off-season (3.46, fruit size (3.20 and cleanliness (3.20. Mean ex-ante transaction costs for sweet banana was N77, 800.00/trader and its mean ex-post transaction cost was N25,080.00/trader. We recommended that traders should take advantage of Global Mobile System (GSM to overcome information barriers on banana trading. Government and health institutions should intensify consumer safety education, and encourage horticultural unions to heighten postharvest monitoring of stored and displayed dessert banana fruits to enforce observance of ripening standards.

  11. The Drayang Girls of Thimphu: sexual network formation, transactional sex and emerging modernities in Bhutan.

    Science.gov (United States)

    Lorway, Robert; Dorji, Gampo; Bradley, Janet; Ramesh, B M; Isaac, Shajy; Blanchard, James

    2011-12-01

    Bhutan's sustained low HIV prevalence can be attributed to its political commitment to maintain isolation from foreign cultural influence. Recently, rising HIV prevalence has coincided with the increase in human traffic along Bhutan's borders. The majority of infections, occurring primarily through sexual contact, have appeared in the urban environments that are situated along the main transport routes. This qualitative study explored the sexual networks that form at entertainment venues in the capital city of Thimphu. To more fully understand sexual network formation at theses venues, one must take into account an emerging modernity that reflects a convergence of cultural, economic and political influences emanating from Bhutan's unique 'middle-path' modernisation scheme. The growing appearance of transactional sex in Thimphu not only points to an emergent form of exploitation wrought by larger economic transformations and widening social inequalities; the power inequalities that surround its practice are also significantly exacerbated by the local cultural politics and moral ideologies that arise as Bhutan proceeds along the path towards global capitalism. Discourses of Bhutanese sexual morality articulate with broader political economic transformations to forcefully position village women engaging in transactional sex within a field of power relations that leaves them open to various forms of subjugation.

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

    OpenAIRE

    Yoon-Doo Kim; Seok Yoon

    2012-01-01

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

  13. Transaction costs of Tradable White Certificate schemes: The Energy Efficiency Commitment as case study

    Energy Technology Data Exchange (ETDEWEB)

    Mundaca, Luis [International Institute for Industrial Environmental Economics at Lund University, Lund (Sweden)

    2007-08-15

    This paper analyses the nature and scale of transaction costs (TCs) borne by obliged parties under a ''Tradable White Certificate'' (TWC) scheme. Taking the first phase of the Energy Efficiency Commitment (EEC1) in Great Britain as a case study, several sources of TCs were considered, such as search for information, persuasion of customers, negotiation with business partners, and measurement and verification activities. Information was obtained through interviews and a questionnaire distributed to obliged parties. Results show that the most significant sources of TCs were related to search for information, persuading customers and negotiating with managing agents/contractors to implement energy efficiency measures. Perceived high TCs related to contract negotiation and liability risks slightly reduced the low trading level. The scale of TCs was estimated to be around 10% and 30% of total investments costs for the lighting and insulation segments, respectively. The results indicate that, despite the presence and scale of TCs, the EEC1 scheme generated energy savings that yielded net societal benefits. Estimated financial benefits range from 0.6 to 6 p/kWh for insulation and lighting savings, respectively. When avoided external costs due to electricity savings are included, estimated economic benefits range from 3 to 8 p/kWh. Several lessons from the EEC1 can be drawn for TWC schemes. Among others, it is found that informative policy instruments to raise awareness among end-users are critical if a TWC scheme is to deliver cost-effective energy savings. In all, the nature and scale of TCs under TWC schemes will differ because of a number of endogenous and exogenous determinants. (author)

  14. Transaction costs of Tradable White Certificate schemes: The Energy Efficiency Commitment as case study

    International Nuclear Information System (INIS)

    Mundaca, Luis

    2007-01-01

    This paper analyses the nature and scale of transaction costs (TCs) borne by obliged parties under a 'Tradable White Certificate' (TWC) scheme. Taking the first phase of the Energy Efficiency Commitment (EEC1) in Great Britain as a case study, several sources of TCs were considered, such as search for information, persuasion of customers, negotiation with business partners, and measurement and verification activities. Information was obtained through interviews and a questionnaire distributed to obliged parties. Results show that the most significant sources of TCs were related to search for information, persuading customers and negotiating with managing agents/contractors to implement energy efficiency measures. Perceived high TCs related to contract negotiation and liability risks slightly reduced the low trading level. The scale of TCs was estimated to be around 10% and 30% of total investments costs for the lighting and insulation segments, respectively. The results indicate that, despite the presence and scale of TCs, the EEC1 scheme generated energy savings that yielded net societal benefits. Estimated financial benefits range from 0.6 to 6 p/kWh for insulation and lighting savings, respectively. When avoided external costs due to electricity savings are included, estimated economic benefits range from 3 to 8 p/kWh. Several lessons from the EEC1 can be drawn for TWC schemes. Among others, it is found that informative policy instruments to raise awareness among end-users are critical if a TWC scheme is to deliver cost-effective energy savings. In all, the nature and scale of TCs under TWC schemes will differ because of a number of endogenous and exogenous determinants

  15. A Novel Dynamic Algorithm for IT Outsourcing Risk Assessment Based on Transaction Cost Theory

    Directory of Open Access Journals (Sweden)

    Guodong Cong

    2015-01-01

    Full Text Available With the great risk exposed in IT outsourcing, how to assess IT outsourcing risk becomes a critical issue. However, most of approaches to date need to further adapt to the particular complexity of IT outsourcing risk for either falling short in subjective bias, inaccuracy, or efficiency. This paper proposes a dynamic algorithm of risk assessment. It initially forwards extended three layers (risk factors, risks, and risk consequences of transferring mechanism based on transaction cost theory (TCT as the framework of risk analysis, which bridges the interconnection of components in three layers with preset transferring probability and impact. Then, it establishes an equation group between risk factors and risk consequences, which assures the “attribution” more precisely to track the specific sources that lead to certain loss. Namely, in each phase of the outsourcing lifecycle, both the likelihood and the loss of each risk factor and those of each risk are acquired through solving equation group with real data of risk consequences collected. In this “reverse” way, risk assessment becomes a responsive and interactive process with real data instead of subjective estimation, which improves the accuracy and alleviates bias in risk assessment. The numerical case proves the effectiveness of the algorithm compared with the approach forwarded by other references.

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

    Science.gov (United States)

    Khan, H. F.; Brown, C.

    2017-12-01

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

  17. Network strength, transaction-specific investments, inter-personal trust, and relationship satisfaction in Chinese agrifood SMEs

    NARCIS (Netherlands)

    Lu Hualiang,; Feng, S.; Trienekens, J.H.; Omta, S.W.F.

    2012-01-01

    Purpose - The purpose of this paper is to investigate the effects of network strength, transaction-specific investments and inter-personal trust on business relationship satisfaction for small-and-medium-sized enterprises (SMEs) involved in agri-food processing and exporting in China.

  18. EU Think Tank Fora as Transaction Cost Reducers: A Study of Informal Interest Intermediation in the EU

    Directory of Open Access Journals (Sweden)

    Marybel Perez

    2014-05-01

    Full Text Available By examining the organisational structure of EU think tank fora (seminars, workshops and conferences, this article proposes that fora can play the role of transaction cost reducers in EU policymaking. I argue that certain aspects of EU policymaking, including i controlled processes of consultation, ii diminishing costs of management, and iii the risk of state capture, incentivise EU institutions to outsource part of the consultation activity to policy actors that can help EU institutions fulfil their informational and legitimacy needs. I argue that think tanks are able to play this role because they i reduce information asymmetries by connecting a wide variety of policy actors and ii act as intermediaries that mitigate opportunistic behaviour. The empirical assessment reveals that the dimensions characterising transactions are present in EU think tank fora. It shows that policy actors that do not usually participate in formal consultation processes frequently attend fora where they meet representatives of EU institutions, particularly Parliament and Commission representatives.

  19. An unconditionally stable, positivity-preserving splitting scheme for nonlinear Black-Scholes equation with transaction costs.

    Science.gov (United States)

    Guo, Jianqiang; Wang, Wansheng

    2014-01-01

    This paper deals with the numerical analysis of nonlinear Black-Scholes equation with transaction costs. An unconditionally stable and monotone splitting method, ensuring positive numerical solution and avoiding unstable oscillations, is proposed. This numerical method is based on the LOD-Backward Euler method which allows us to solve the discrete equation explicitly. The numerical results for vanilla call option and for European butterfly spread are provided. It turns out that the proposed scheme is efficient and reliable.

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

    OpenAIRE

    Lu Hualiang

    2006-01-01

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

  1. Transaction costs of access to health care: Implications of the care-seeking pathways of tuberculosis patients for health system governance in Nigeria.

    Science.gov (United States)

    Abimbola, Seye; Ukwaja, Kingsley N; Onyedum, Cajetan C; Negin, Joel; Jan, Stephen; Martiniuk, Alexandra L C

    2015-10-01

    Health care costs incurred prior to the appropriate patient-provider transaction (i.e., transaction costs of access to health care) are potential barriers to accessing health care in low- and middle-income countries. This paper explores these transaction costs and their implications for health system governance through a cross-sectional survey of adult patients who received their first diagnosis of pulmonary tuberculosis (TB) at the three designated secondary health centres for TB care in Ebonyi State, Nigeria. The patients provided information on their care-seeking pathways and the associated costs prior to reaching the appropriate provider. Of the 452 patients, 84% first consulted an inappropriate provider. Only 33% of inappropriate consultations were with qualified providers (QP); the rest were with informal providers such as pharmacy providers (PPs; 57%) and traditional providers (TP; 10%). Notably, 62% of total transaction costs were incurred during the first visit to an inappropriate provider and the mean transaction costs incurred was highest with QPs (US$30.20) compared with PPs (US$14.40) and TPs (US$15.70). These suggest that interventions for reducing transaction costs should include effective decentralisation to integrate TB care with services at the primary health care level, community engagement to address information asymmetry, enforcing regulations to keep informal providers within legal limits and facilitating referral linkages among formal and informal providers to increase early contact with appropriate providers.

  2. Scaling and long-range dependence in option pricing V: Multiscaling hedging and implied volatility smiles under the fractional Black-Scholes model with transaction costs

    Science.gov (United States)

    Wang, Xiao-Tian

    2011-05-01

    This paper deals with the problem of discrete time option pricing using the fractional Black-Scholes model with transaction costs. Through the ‘anchoring and adjustment’ argument in a discrete time setting, a European call option pricing formula is obtained. The minimal price of an option under transaction costs is obtained. In addition, the relation between scaling and implied volatility smiles is discussed.

  3. The impact of the prospective payment system for skilled nursing facilities on therapy service provision: a transaction cost approach.

    Science.gov (United States)

    Zinn, Jacqueline S; Mor, Vincent; Intrator, Orna; Feng, Zhanlian; Angelelli, Joseph; Davis, Jullet A

    2003-12-01

    To examine skilled nursing facilities (SNFs) "make-or-buy" decisions with respect to rehabilitation therapy service provision in the 1990s, both before and after implementation of Medicare's Prospective Payment System (PPS) for SNFs. Longitudinal On-line Survey Certification and Reporting (OSCAR) data (1992-2001) on a sample of 10,241 freestanding urban SNFs. We estimated a longitudinal multinomial logistic regression model derived from transaction cost economic theory to predict the probability of the outcome in each of four service provision categories (all employed staff, all contract, mixed, and no services provided). Transaction frequency, uncertainty, and complexity result in greater control over therapy services through employment as opposed to outside contracting. For-profit status and chain affiliation were associated with greater control over therapy services. Following PPS, nursing homes acted to limit transaction costs by either exiting the rehabilitation market or exerting greater control over therapy services by managing rehabilitation services in-house. The financial incentives associated with changes in reimbursement methodology have implications that extend beyond the boundaries of the health care industry segment directly affected. Unintended quality and access consequences need to be carefully monitored by the Medicare program.

  4. Concurrency Control in Distributed Systems with Applications to Long-Lived Transactions and Partitioned Networks.

    Science.gov (United States)

    1983-06-01

    i in partition Is ana transaction 󈧐 writes oata ooject a in partition 1I, then the conflict pair "TiTi : a" must ue Includea in tne glocal relation...It botn transactions naa written aatd ob]ect a tnen each control site woulu insert a conflict pair in the glocal relation. "TIT2 : a" and ൔii : a...DATA STUULTUhES 1. Transactions Transactions are implemented in the simulation design as a linked list structure pointed to oy a glocal variaole (TIA

  5. Transaction cost analysis of in-clinic versus telehealth consultations for chronic pain: preliminary evidence for rapid and affordable access to interdisciplinary collaborative consultation.

    Science.gov (United States)

    Theodore, Brian R; Whittington, Jan; Towle, Cara; Tauben, David J; Endicott-Popovsky, Barbara; Cahana, Alex; Doorenbos, Ardith Z

    2015-06-01

    With ever increasing mandates to reduce costs and increase the quality of pain management, health care institutions are faced with the challenge of adopting innovative technologies and shifting workflows to provide value-based care. Transaction cost economic analysis can provide comparative evaluation of the consequences of these changes in the delivery of care. The aim of this study was to establish proof-of-concept using transaction cost analysis to examine chronic pain management in-clinic and through telehealth. Participating health care providers were asked to identify and describe two comparable completed transactions for patients with chronic pain: one consultation between patient and specialist in-clinic and the other a telehealth presentation of a patient's case by the primary care provider to a team of pain medicine specialists. Each provider completed two on-site interviews. Focus was on the time, value of time, and labor costs per transaction. Number of steps, time, and costs for providers and patients were identified. Forty-six discrete steps were taken for the in-clinic transaction, and 27 steps were taken for the telehealth transaction. Although similar in costs per patient ($332.89 in-clinic vs. $376.48 telehealth), the costs accrued over 153 business days in-clinic and 4 business days for telehealth. Time elapsed between referral and completion of initial consultation was 72 days in-clinic, 4 days for telehealth. U.S. health care is moving toward the use of more technologies and practices, and the information provided by transaction cost analyses of care delivery for pain management will be important to determine actual cost savings and benefits. Wiley Periodicals, Inc.

  6. Transaction costs economics as a conceptual framework for the analysis of barriers to the diffusion of telemedicine.

    Science.gov (United States)

    Pelletier-Fleury, N; Fargeon, V; Lanoé, J L; Fardeau, M

    1997-10-01

    Telemedecine has been talked about for more than 20 years, without it entering daily use with any success. Based on transaction costs economics, the present analysis of the exchange relationships between health care producers highlights certain characteristics of the current technical and legislative context, which leads to transaction costs. It also demonstrates that the introduction of telemedicine shifts the costs associated with agents' opportunism from patients to health-care producers themselves. All these costs may be considered nowadays to thwart the use of telemedicine. It is argued here that the Public Authorities and professionals of health care could act upon telemedicine in two fields: (1) intervention in the institutional environment aims notably at better defining the property rights of telemedicine, and so constitutes an unavoidable means of encouraging health-care producers to invest in new technology; and (2) implementation of organisational forms and mechanisms susceptible to regulating such telemedical relationships between health care producers-given the present institutional environment-constitutes an essential means for overcoming the immediate barriers blocking the diffusion of telemedicine.

  7. CONSTRUCTION COST PREDICTION USING NEURAL NETWORKS

    Directory of Open Access Journals (Sweden)

    Smita K Magdum

    2017-10-01

    Full Text Available Construction cost prediction is important for construction firms to compete and grow in the industry. Accurate construction cost prediction in the early stage of project is important for project feasibility studies and successful completion. There are many factors that affect the cost prediction. This paper presents construction cost prediction as multiple regression model with cost of six materials as independent variables. The objective of this paper is to develop neural networks and multilayer perceptron based model for construction cost prediction. Different models of NN and MLP are developed with varying hidden layer size and hidden nodes. Four artificial neural network models and twelve multilayer perceptron models are compared. MLP and NN give better results than statistical regression method. As compared to NN, MLP works better on training dataset but fails on testing dataset. Five activation functions are tested to identify suitable function for the problem. ‘elu' transfer function gives better results than other transfer function.

  8. The relationship between product quality and transaction costs with vertical coordination in DOC Rioja wine grape industry

    Energy Technology Data Exchange (ETDEWEB)

    Fernanez-Olmos, M.; Rossell-Martinez, J.; Espitia-Escuer, M. A.

    2009-07-01

    This paper analyzes the relationship between product quality and governance mode choice (market mode, hybrid mode or vertical integration) using the results of a survey of 187 qualified appellation of origin (DOC) Rioja wineries. By estimating a generalized ordered logit, it is concluded that wineries that produce high-quality wines are more likely to vertically integrate than are wineries that produce low-quality wines. Consistent with transaction cost economics, evidence is found that asset specificity and uncertainty are important determinants of vertical integration. Finally, the size of the winery is also an important factor that affects governance mode choice in viticulture. (Author)

  9. Il B2B e il paradigma dei costi di transazione (B2B and the Transaction Costs Paradigm

    Directory of Open Access Journals (Sweden)

    Pierluigi Sabbatini

    2001-06-01

    Full Text Available Business to Business (B2B Internet commerce causes a significant contraction of transaction costs. According to the Coase paradigm, we would thus expect a deverticalization of the industry and broader scope for anonymous market mechanisms. In reality, such expectations are not fully borne out by the facts. When the industrial structure is concentrated the B2Bgenerally loses its independence, and is owned by the firms which most contribute to its development, e.g. the ones able to bring the liquidity to it. The B2B governance mechanism established by these firms gives hierarchical mechanisms a role which they do not usually play in extensive, anonymous markets.

  10. Alignment between chain quality management and chain governance in EU pork supply chains: a Transaction-Cost-Economics perspective.

    Science.gov (United States)

    Wever, Mark; Wognum, Nel; Trienekens, Jacques; Omta, Onno

    2010-02-01

    Although inter-firm coordination of quality management is increasingly important for meeting end-customer demand in agri-food chains, few researchers focus on the relation between inter-firm quality management systems (QMS) and inter-firm governance structures (GS). However, failure to align QMSs and GSs may lead to inefficiencies in quality management because of high transaction-costs. In addition, misalignment is likely to reduce the quality of end-customer products. This paper addresses this gap in research by empirically examining the relation between QMSs and GSs in pork meat supply chains. Transaction-Cost-Economic theory is used to develop propositions about the relation between three aspects of QMSs--ownership, vertical scope and scale of adoption--and the use of different types of GSs in pork meat supply chains. To validate the propositions, seven cases are examined from four different countries. The results show that the different aspects of QMSs largely relate to specific GSs used in chains in the manner predicted by the propositions. This supports the view that alignment between QMSs and GSs is important for the efficient coordination of quality management in (pork meat) supply chains.

  11. On cost-effective communication network designing

    Science.gov (United States)

    Zhang, Guo-Qiang

    2010-02-01

    How to efficiently design a communication network is a paramount task for network designing and engineering. It is, however, not a single objective optimization process as perceived by most previous researches, i.e., to maximize its transmission capacity, but a multi-objective optimization process, with lowering its cost to be another important objective. These two objectives are often contradictive in that optimizing one objective may deteriorate the other. After a deep investigation of the impact that network topology, node capability scheme and routing algorithm as well as their interplays have on the two objectives, this letter presents a systematic approach to achieve a cost-effective design by carefully choosing the three designing aspects. Only when routing algorithm and node capability scheme are elegantly chosen can BA-like scale-free networks have the potential of achieving good tradeoff between the two objectives. Random networks, on the other hand, have the built-in character for a cost-effective design, especially when other aspects cannot be determined beforehand.

  12. Transaction costs of farmers’ participation in forest management: Policy implications of payments for environmental services schemes in Vietnam

    Directory of Open Access Journals (Sweden)

    Areeya Manasboonphempool

    2015-11-01

    Full Text Available Recent research on payments for environmental services (PES has observed that high transaction costs (TCs are incurred through the implementation of PES schemes and farmer participation. TCs incurred by households are considered to be an obstacle to the participation in and efficiency of PES policies. This study aims to understand transactions related to previous forest plantation programmes and to estimate the actual TCs incurred by farmers who participated in these programmes in a mountainous area of northwestern Vietnam. In addition, this study examines determinants of households’ TCs to test the hypothesis of whether the amount of TCs varies according to household characteristics. Results show that average TCs are not likely to be a constraint for participation since they are about 200,000 VND (USD 10 per household per contract, which is equivalent to one person’s average earnings for about two days of labour. However, TCs amount to more than one-third of the programmes’ benefits, which is relatively high compared to PES programmes in developed countries. This implies that rather than aiming to reduce TCs, an appropriate agenda for policy improvement is to balance the level of TCs with PES programme benefits to enhance the overall attractiveness of afforestation programmes for smallholder farmers. Regression analysis reveals that education, gender and perception towards PES programmes have significant effects on the magnitude of TCs. The analyses also points out the importance of local conditions on the level of TCs, with some unexpected results.

  13. Sharing cost in social community networks

    DEFF Research Database (Denmark)

    Pal, Ranjan; Elango, Divya; Wardana, Satya Ardhy

    2012-01-01

    their deployment in a residential locality. Our proposed mechanism accounts for heterogeneous user preferences towards different router features and comes up with the optimal (feature-set, user costs) router blueprint that satisfies each user in a locality, in turn motivating them to buy routers and thereby improve......Wireless social community networks (WSCNs) is an emerging technology that operate in the unlicensed spectrum and have been created as an alternative to cellular wireless networks for providing low-cost, high speed wireless data access in urban areas. WSCNs is an upcoming idea that is starting...... reflect their slow progress in capturing the WiFi router market. In this paper, we look at a router design and cost sharing problem in WSCNs to improve deployment. We devise a simple to implement, successful, budget-balanced, ex-post efficient, and individually rational auction-based mechanism...

  14. Transaction-cost Expenditures and the Relative Performance of Mutual Funds

    OpenAIRE

    John M.R. Chalmers; Roger M. Edelen; Gregory B. Kadlec

    1999-01-01

    We directly estimate annual trading costs for a sample of equity mutual funds and find that these costs are large and exhibit substantial cross sectional variation. Trading costs average 0.78% of fund assets per year and have an inter-quartile range of 0.59%. Trading costs, like expense ratios, are negatively related to fund returns and we find no evidence that on average trading costs are recovered in higher gross fund returns. We find that our direct estimates of trading costs have more exp...

  15. Economics of institutions and transaction costs: implementation of some elements of the analysis of small-scale agribusiness.

    Directory of Open Access Journals (Sweden)

    Marcio Gazolla

    2009-12-01

    Full Text Available The purpose of this paper is to demonstrate how family agribusiness reproduces in rural areas of the country (with emphasis in Southern Brazil, even in some cases, under conditions of social and economic difficulties. Thus, this paper discusses the main issues related to maintaining social and economic developments of small agro-industrial by addressing them under the theoretical framework of institutionalism (The New Institutional Economics - NEI and Cost Economics Transaction (ECT. The research methodology included the use of a structured questionnaire with closed questions, search through the CAAF (CAAF, 2006 and semi-structured interviews with owners of families agribusinesses, applied both in Northern Rio Grande do Sul (Upper East Region of Uruguay. The findings show that the ECT and institutionalism are theoretical approaches that are consistent and provide good support in understanding the processes of reproduction and social maintenance of small-scale agro-industrial family, even in the face of production problems, market, organization, legislation.

  16. 1979 transactions of the American Association of Cost Engineers, Cincinnati, OH

    International Nuclear Information System (INIS)

    Anon.

    1979-01-01

    The proceedings of the American cost engineers 1979 meeting include a discussion of the probabilistic cost estimating for nuclear power plants, computer simulation of power plant costs, a panel discussion on the effects of the National Energy Act on energy needs, a projected cash flow life cycle analysis for the power industry, and TVA's nuclear power plant experience among other topics

  17. Transaction Cost on The Implementation of E-Invoices in Micro and Small Enterprises

    Directory of Open Access Journals (Sweden)

    Clara Palupi

    2017-02-01

    Full Text Available E-invoice is one of the tax administration modernization program created to reduce the tax compliance costs in order to improve the tax compliance. This paper aims to prove that e-invoice as a form of institutional change can actually change or lower the tax compliance costs. Using a qualitative approach case study method and supported by evidence of calculation of the cost of compliance. The results showed that e-invoice cannot directly reduce the tax compliance costs, because e-invoice is a new program and the taxpayers bear big the amount of time cost for the process of adjustment (adapt. Tax compliance costs will increase temporarily during the adaptation process; the total compliance cost in the six months after the e-invoice increased 3.4 percent from the six months before. Then, the results of tax compliance costs estimated at one year after the e-invoice applied showed that the compliance costs decrease 31 percent from the cost of compliance without e-invoice.DOI: 10.15408/sjie.v6i1.4866

  18. The cost of the tax transaction in the commercial enterprises of the province of Tungurahua

    OpenAIRE

    Edgar Fabian Mera Bozano; Gina Elizabeth Vargas Núñez; Santiago Xavier Flores Brito

    2017-01-01

    The present article includes an important contribution for the tax administration, since it allows identifying the indirect cost to taxpayers when complying with tax obligations, the cost that is doctrinally known as indirect tax pressure, although the obligations are Several, Not all of them fall on the same obligated subject, the tendency in Ecuador is the reduction of the costs of tracking, hence the value given by the Internal Revenue service to the use of information technologies, throug...

  19. The impact of transport- and transaction-cost reductions on food markets in developing countries: evidence for tempered expectations for Burkina Faso

    NARCIS (Netherlands)

    Ruijs, A.J.W.; Schweigman, C.; Lutz, C.

    2004-01-01

    Reductions in transport and transaction costs are expected to have a major effect on the functioning of food markets in developing countries. For Burkina Faso, this is a relevant issue as it may have important consequences for the food markets in urban and rural deficit areas. A partial equilibrium

  20. The impact of transport- and transaction-cost reductions on food markets in developing countries : evidence for tempered expectations for Burkina Faso

    NARCIS (Netherlands)

    Ruijs, A.J.W.; Schweigman, C.; Lutz, C.H.M.

    2004-01-01

    Reductions in transport and transaction costs are expected to have a major effect on the functioning of food markets in developing countries. For Burkina Faso, this is a relevant issue as it may have important consequences for the food markets in urban and rural deficit areas. A partial equilibrium

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

    OpenAIRE

    Hoekman, Bernard; Nicita, Alessandro

    2010-01-01

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

  2. Too expensive to meter: the influence of transaction costs in transportation and communication.

    Science.gov (United States)

    Levinson, David; Odlyzko, Andrew

    2008-06-13

    Technology appears to be making fine-scale charging (as in tolls on roads that depend on time of day or even on current and anticipated levels of congestion) increasingly feasible. Such charging also appears to be increasingly desirable, as traffic on roads continues to grow and costs and public opposition limit new construction. Similar incentives towards fine-scale charging also appear to be operating in communications and other areas, such as electricity usage. Standard economic theory supports such measures and technology is being developed and deployed to implement them. But their spread is not very rapid and their prospects for the future are uncertain. This paper presents a collection of sketches, ranging from ancient history to very recent developments, that illustrate the costs that charging imposes. Some of those costs are explicit (in terms of the monetary costs to users and the costs of implementing the charging mechanisms). Others are implicit, such as the time or the mental processing costs of users. These argue that the case for fine-scale charging is not unambiguous and that in many cases such charging may lead to undesirable outcomes.

  3. The cost of the tax transaction in the commercial enterprises of the province of Tungurahua

    Directory of Open Access Journals (Sweden)

    Edgar Fabian Mera Bozano

    2017-12-01

    Full Text Available The present article includes an important contribution for the tax administration, since it allows identifying the indirect cost to taxpayers when complying with tax obligations, the cost that is doctrinally known as indirect tax pressure, although the obligations are Several, Not all of them fall on the same obligated subject, the tendency in Ecuador is the reduction of the costs of tracking, hence the value given by the Internal Revenue service to the use of information technologies, through The various Online Services in the contribution cycle, from registration to registration, to declaration and payment through the web. The present study shows that however there are always processes derived from constant regulatory changes and procedures that generate an additional cost to the payment of the Tribute as such, The highest cost represents the item of remuneration to the staff with slight to the payment of and the use of resources for computer changes in systems, the challenge is to generate a comprehensive reform, the digitization of processes, and the reduction of technological illiteracy that may exist in the citizenry, promoting the tax culture Through compliance Voluntary and timely obligation, without the proclivity to circumvent the law with loopholes and shortcuts

  4. Transaction Costs and the Collection of Information: Presale Measurement on Private Timber Sales

    Science.gov (United States)

    Keith B. Leffler; Randal R. Rucker; Ian A. Munn

    2000-01-01

    Measurement efforts to reduce the uncertainty concerning the attributes of heterogeneous goods may simply redistribute wealth and result in social waste. Individuals bearing the cost of such distributional measurement have incentives to develop buying and selling practices that limit such measurement. We examine, both theoretically and empirically, the determinants...

  5. The Impact of Transaction Costs on Rebalancing an Investment Portfolio in Portfolio Optimization

    OpenAIRE

    B. Marasović; S. Pivac; S. V. Vukasović

    2015-01-01

    Constructing a portfolio of investments is one of the most significant financial decisions facing individuals and institutions. In accordance with the modern portfolio theory maximization of return at minimal risk should be the investment goal of any successful investor. In addition, the costs incurred when setting up a new portfolio or rebalancing an existing portfolio must be included in any realistic analysis. In this paper rebalancing an investment portfolio in the pr...

  6. Coordinating collaborative joint efforts with suppliers: the effects of trust transaction specific investment and information network in the Dutch flower industry

    NARCIS (Netherlands)

    Claro, D.P.; Oliveira Claro, de P.B.; Hagelaar, J.L.F.

    2006-01-01

    Purpose: It is the aim of this paper to discuss the value of trust and the effects of transaction specific investments for the relative degree of collaborative joint efforts, and also to assess the moderating effect of the information network on such joint efforts. Design/methodology/approach: The

  7. Diversified Investments, Market Returns and Low Transaction Costs: Which is the Best Combination of these Factors?

    Directory of Open Access Journals (Sweden)

    Jose M. Ventura

    2000-08-01

    Full Text Available The article presents a way to build a diversified portfolio at a cost lower than what most investment service firms and advisors can provide through active fund management. The investment strategy presented consists of selecting the Index that is appropriate for the investment aims and investing the portfolio based on the mix of different indexes that reflect the investor's goal. Since index investing by definition does not select any other security than the one in the index and has to be purchased in the proportion reflected in the index, stock selection is straightforward and management fees are at a low level or even beat the minimum, if competition works.

  8. Optimal dividend policies with transaction costs for a class of jump-diffusion processes

    DEFF Research Database (Denmark)

    Hunting, Martin; Paulsen, Jostein

    2013-01-01

    his paper addresses the problem of finding an optimal dividend policy for a class of jump-diffusion processes. The jump component is a compound Poisson process with negative jumps, and the drift and diffusion components are assumed to satisfy some regularity and growth restrictions. Each dividend...... payment is changed by a fixed and a proportional cost, meaning that if ξ is paid out by the company, the shareholders receive kξ−K, where k and K are positive. The aim is to maximize expected discounted dividends until ruin. It is proved that when the jumps belong to a certain class of light...

  9. Cost effective campaigning in social networks

    Science.gov (United States)

    Kotnis, Bhushan; Kuri, Joy

    2016-05-01

    Campaigners are increasingly using online social networking platforms for promoting products, ideas and information. A popular method of promoting a product or even an idea is incentivizing individuals to evangelize the idea vigorously by providing them with referral rewards in the form of discounts, cash backs, or social recognition. Due to budget constraints on scarce resources such as money and manpower, it may not be possible to provide incentives for the entire population, and hence incentives need to be allocated judiciously to appropriate individuals for ensuring the highest possible outreach size. We aim to do the same by formulating and solving an optimization problem using percolation theory. In particular, we compute the set of individuals that are provided incentives for minimizing the expected cost while ensuring a given outreach size. We also solve the problem of computing the set of individuals to be incentivized for maximizing the outreach size for given cost budget. The optimization problem turns out to be non trivial; it involves quantities that need to be computed by numerically solving a fixed point equation. Our primary contribution is, that for a fairly general cost structure, we show that the optimization problems can be solved by solving a simple linear program. We believe that our approach of using percolation theory to formulate an optimization problem is the first of its kind.

  10. An efficient heuristic method for dynamic portfolio selection problem under transaction costs and uncertain conditions

    Science.gov (United States)

    Najafi, Amir Abbas; Pourahmadi, Zahra

    2016-04-01

    Selecting the optimal combination of assets in a portfolio is one of the most important decisions in investment management. As investment is a long term concept, looking into a portfolio optimization problem just in a single period may cause loss of some opportunities that could be exploited in a long term view. Hence, it is tried to extend the problem from single to multi-period model. We include trading costs and uncertain conditions to this model which made it more realistic and complex. Hence, we propose an efficient heuristic method to tackle this problem. The efficiency of the method is examined and compared with the results of the rolling single-period optimization and the buy and hold method which shows the superiority of the proposed method.

  11. Application of Transaction Costs in Analyzing Transport Corridors Using Multi-Agent-Based Simulation

    Directory of Open Access Journals (Sweden)

    Lawrence E. Henesey

    2006-03-01

    Full Text Available In analyzing the freight transportation systems, such as thetransport of intermodal containers, often direct monetary costsassociated with transportation are used to evaluate or determinethe choice of transport corridor. In forming decisions ontransport co"idor choice, this paper proposes that transactioncosts can be considered as an additional determinant in conductingtransport corridor analysis. The application of transactioncosts theory in analyzing the organizations and the transactionsthat occur, assists in indicating as to which governancestructure results in higher efficiencies. Efficiency is seen as eitherthe minimisation on costs or the maximisation of customerservice levels. The use of multi-agent based simulation for modellingthe organisational structure and mechanisms provides anovel approach in understanding the relationships in a regionaltransport co"idor.

  12. The Effect of Cross-Border E-Commerce on China’s International Trade: An Empirical Study Based on Transaction Cost Analysis

    Directory of Open Access Journals (Sweden)

    Yu Wang (Avery. W

    2017-11-01

    Full Text Available Reducing transaction costs by means of policy intervention could generate comparative advantages and contribute to the growth of international trade. Chinese government agencies have introduced a number of policies in support of rapidly growing cross-border e-commerce to promote China’s international trade. However, the previous literature has not empirically verified the precise effect of these policies on the growth of international trade while focusing on the impact of cross-border e-commerce on trade distance and consumer welfare. To address this gap, this paper investigates the impact of cross-border e-commerce on international trade in the context of China, mainly from the perspective of transaction cost economics in conjunction with the traditional comparative advantage model by analyzing information cost, negotiation cost, transportation cost, tariffs and middlemen cost separately. Firstly, the new theoretical model suggests that cross-border e-commerce may have a positive role in promoting international trade only when the negative impact caused by tariff cost and transportation cost is offset. Secondly, our result shows that cross-border e-commerce has a positive effect on the growth of China’s international trade in each year. However, the positive effect does not show incremental growth over time, possibly as a result of the weak implementation of favorable policies in trade, in addition to global trade shrinking.

  13. Analysis of the transmission characteristics of China's carbon market transaction price volatility from the perspective of a complex network.

    Science.gov (United States)

    Jia, Jingjing; Li, Huajiao; Zhou, Jinsheng; Jiang, Meihui; Dong, Di

    2018-03-01

    Research on the price fluctuation transmission of the carbon trading pilot market is of great significance for the establishment of China's unified carbon market and its development in the future. In this paper, the carbon market transaction prices of Beijing, Shanghai, Tianjin, Shenzhen, and Guangdong were selected from December 29, 2013 to March 26, 2016, as sample data. Based on the view of the complex network theory, we construct a price fluctuation transmission network model of five pilot carbon markets in China, with the purposes of analyzing the topological features of this network, including point intensity, weighted clustering coefficient, betweenness centrality, and community structure, and elucidating the characteristics and transmission mechanism of price fluctuation in China's five pilot cities. The results of point intensity and weighted clustering coefficient show that the carbon prices in the five markets remained unchanged and transmitted smoothly in general, and price fragmentation is serious; however, at some point, the price fluctuates with mass phenomena. The result of betweenness centrality reflects that a small number of price fluctuations can control the whole market carbon price transmission and price fluctuation evolves in an alternate manner. The study provides direction for the scientific management of the carbon price. Policy makers should take a positive role in promoting market activity, preventing the risks that may arise from mass trade and scientifically forecasting the volatility of trading prices, which will provide experience for the establishment of a unified carbon market in China.

  14. The Effect of Cross-Border E-Commerce on China’s International Trade: An Empirical Study Based on Transaction Cost Analysis

    OpenAIRE

    Wang (Avery. W), Yu; Wang, Yi; Lee, Soo Hee

    2017-01-01

    Reducing transaction costs by means of policy intervention could generate comparative advantages and contribute to the growth of international trade. Chinese government agencies have introduced a number of policies in support of rapidly growing cross-border e-commerce to promote China’s international trade. However, the previous literature has not empirically verified the precise effect of these policies on the growth of international trade while focusing on the impact of cross-border e-comme...

  15. Institutional failures and transaction costs of Bulgarian "private research institutes". Kiel und Hamburg : ZBW – Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft.

    OpenAIRE

    Nozharov, Shteryo

    2016-01-01

    Abstract: The paper analyses the reasons for poor performance of private research institutes in Bulgaria. In this regard the Institutional Economics methods are used. A connection between smart growth policy goals and Bulgarian membership in EU is made. The gaps in the institutional environment are identified as well as measures for their elimination are proposed. The main accent of the study is put on the identification of transaction costs, arisen as a result of the failures of the institut...

  16. Solving Minimum Cost Multi-Commodity Network Flow Problem ...

    African Journals Online (AJOL)

    ADOWIE PERE

    2018-03-23

    Mar 23, 2018 ... network-based modeling framework for integrated fixed and mobile ... Minimum Cost Network Flow Problem (MCNFP) and some ..... Unmanned Aerial Vehicle Routing in Traffic. Incident ... Ph.D. Thesis, Dept. of Surveying &.

  17. Decentralized Transactive Mechanism in Distribution Network Based on Smart Contract%基于智能合约的配电网去中心化交易机制

    Institute of Scientific and Technical Information of China (English)

    平健; 陈思捷; 张宁; 严正; 姚良忠

    2017-01-01

    With the deregulation of power industry and increasing penetration of distributed energy resources,both opportunities and challenges arise in distribution networks.Traditionally a distribution network is operated in a centralized way similar to a transmission network.However,this may incur problems such as high transaction costs,inefficiency,lack of transparency,and cyber-security risk.This paper presented a decentralized transactive distribution system operation method.Firstly,a transactive and decentralized mechanism was proposed.When a prosumer's actual generation/load deviates from her day-ahead schedule,she can send a real-time transaction request to neighboring prosumers and ask help to eliminate the deviation.A Vickrey-Clarke-Groves (VCG) auction method was introduced to encourage honest bidding of her neighbors.A security check method was proposed to ensure that power flows are within limits.Then,an operation method of a transactive distribution system,based on Ethereum blockchain that ensures transparency and information symmetry,was proposed.We also designed a smart contract of transactive energy.The simulation result based on Ethereum private blockchain shows that the proposed decentralized transactive method can deliver multilateral bidding of prosumers,minimize the total cost of eliminating deviation,and ensure the economic and secure operation of a distribution network.%电力体制改革的推进以及分布式能源渗透率的提高给配网运行带来了机遇与挑战.传统上,配网借鉴输电侧经验,以集中的方式管理运行.然而,这一模式在新形势下存在成本高、效率低、透明度低、信息安全风险高等问题.为此,该文提出了去中心化的配网运行模式和方法.首先,提出无须中心机构参与的配网交易机制与模型:配网中的产消者在其实际出力/负荷偏离发用电计划时,可发起实时交易请求,由周边产消者协助消除这一偏差,维持配网的供求动态平

  18. Transactional Memory

    CERN Document Server

    Harris, Tim; Rajwar, Ravi

    2010-01-01

    The advent of multicore processors has renewed interest in the idea of incorporating transactions into the programming model used to write parallel programs.This approach, known as transactional memory, offers an alternative, and hopefully better, way to coordinate concurrent threads. The ACI(atomicity, consistency, isolation) properties of transactions provide a foundation to ensure that concurrent reads and writes of shared data do not produce inconsistent or incorrect results. At a higher level, a computation wrapped in a transaction executes atomically - either it completes successfullyand

  19. Optimal cost for strengthening or destroying a given network

    Science.gov (United States)

    Patron, Amikam; Cohen, Reuven; Li, Daqing; Havlin, Shlomo

    2017-05-01

    Strengthening or destroying a network is a very important issue in designing resilient networks or in planning attacks against networks, including planning strategies to immunize a network against diseases, viruses, etc. Here we develop a method for strengthening or destroying a random network with a minimum cost. We assume a correlation between the cost required to strengthen or destroy a node and the degree of the node. Accordingly, we define a cost function c (k ) , which is the cost of strengthening or destroying a node with degree k . Using the degrees k in a network and the cost function c (k ) , we develop a method for defining a list of priorities of degrees and for choosing the right group of degrees to be strengthened or destroyed that minimizes the total price of strengthening or destroying the entire network. We find that the list of priorities of degrees is universal and independent of the network's degree distribution, for all kinds of random networks. The list of priorities is the same for both strengthening a network and for destroying a network with minimum cost. However, in spite of this similarity, there is a difference between their pc, the critical fraction of nodes that has to be functional to guarantee the existence of a giant component in the network.

  20. Application of Network-Constrained Transactive Control to Electric Vehicle Charging for Secure Grid Operation

    DEFF Research Database (Denmark)

    Hu, Junjie; Yang, Guangya; Bindner, Henrik W.

    2016-01-01

    including power transformer congestion and voltage violations. In this method, a price coordinator is introduced to facilitate the interaction between the distribution system operator (DSO) and aggregators in the smart grid. Electric vehicles are used to illustrate the proposed network...

  1. Pattern of secure bilateral transactions ensuring power economic dispatch in hybrid electricity markets

    International Nuclear Information System (INIS)

    Kumar, Ashwani; Gao, Wenzhong

    2009-01-01

    This paper proposes a new method for secure bilateral transactions determination ensuring economic power dispatch of the generators using new AC distribution factors for pool and bilateral coordinated markets. The new optimization problem considers simultaneous minimization of deviations from scheduled transactions and fuel cost of the generators in the network. The fuel cost has been obtained for hybrid market model and impact of different percentage of bilateral demand on fuel cost, generation share, and pattern of transactions has also been determined. The impact of optimally located unified power flow controller (UPFC) on the bilateral transactions, fuel cost and generation pattern has also been studied. The results have also been obtained for pool market model. The proposed technique has been applied on IEEE 24-bus reliability test system (RTS). (author)

  2. Transacting in the absence of trust : Uncertainty and network patterns in post-communism

    NARCIS (Netherlands)

    B. Lehmbruch (Barbara)

    2012-01-01

    textabstractThe paper critically discusses the widespread literature focusing on informal post-communist “clans,” “networks,” or “fiefdoms.” Often self-described as determinedly empirical, the “clan” paradigm is crucially shaped by its origins in the analysis of East Asia, as well as by its use as

  3. Valuation of Transactive Systems

    Energy Technology Data Exchange (ETDEWEB)

    Hammerstrom, Donald J. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Corbin, Charles D. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Fernandez, Nicholas [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Homer, Juliet S. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Makhmalbaf, Atefe [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Pratt, Robert G. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Somani, Abhishek [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Gilbert, Erik I. [Navigant Consulting, Boulder, CO (United States); Chandler, Shawn [Navigant Consulting, Portland, OR (United States); Shandross, Richard [Navigant Consulting, Burlington, MA (United States)

    2016-05-12

    This is a final report from a project funded by the U.S. Department of Energy to formulate and test a methodology for valuation of systems where transaction-based mechanisms coordinate the exchange of value between the system’s actors. Today, the principal commodity being exchanged is electrical energy, and such mechanisms are called transactive energy systems. The authors strove to lay a foundation for meaningful valuations of transactive systems in general, and transactive energy systems as a special case. The word valuation is used in many different ways. This report proposes a valuation methodology that is inclusive of many types of valuations. Many will be familiar with cost-benefit valuations, in which both costs and benefits are assessed to determine whether the assets are worth their cost. Another set of valuation methods attempt to optimize an outcome using available resources, as is the case with integrated resource planning. In the end, this report’s methodology was most influenced by and most resembles the integrated-resource-planning approach. Regardless, we wish to enforce the premise that all valuations are comparative and should clearly specify a baseline scenario. A long, annotated list of prior valuation studies and valuation methodologies that influenced this report has been appended to this report. Much research is being conducted today concerning transactive systems, but only a handful of transactive system mechanisms have been formulated and field tested. They are found to be quite diverse, and the documentation of the various mechanisms is uneven in breadth and quality. It is therefore not adequate to simply assert that a valuation scenario includes a transactive system; certain characteristics and qualities of the chosen transactive system mechanism must be defined and stated. The report lists and discusses most of the known transactive system mechanisms. It offers a set of questions that may be used to help specify important

  4. Network formation under heterogeneous costs: The multiple group model

    NARCIS (Netherlands)

    Kamphorst, J.J.A.; van der Laan, G.

    2007-01-01

    It is widely recognized that the shape of networks influences both individual and aggregate behavior. This raises the question which types of networks are likely to arise. In this paper we investigate a model of network formation, where players are divided into groups and the costs of a link between

  5. Social networks, market transactions, and reputation as a central resource. The Mercado del Mar, a fish market in central Mexico

    Science.gov (United States)

    Hernández, Juan M.

    2017-01-01

    Fish consumption in Mexico is considered low (around 12 kg per person per year) and non-homogeneously distributed across the country. One of the reasons for this situation is the scarcity of wholesale selling sites. In this context, the Mercado del Mar (MM), located in Guadalajara city, Jalisco, is the second biggest wholesale fish market in Mexico, with a distribution of about 500 tons per day and a variety of about 350 different species of fish. In this paper, we argue that MM has accumulated social capital, which is formed from two main resources: buyer and seller relationships, and reputation. Specifically, the MM manages a broad and intensive interaction among business actors and the already achieved reputation allows the MM to adapt to market changes. To validate our hypotheses, an empirical study was conducted in 2015 by means of interviews to fish wholesalers in the MM and a sample of their suppliers and buyers. For simplicity we have only considered fresh water fish. We have followed snow-ball sampling as the survey strategy. Results show that the MM has responded to fish market dynamics organizing a complex network of buyers and suppliers whose relationships can be explained in the form of strong and weak ties. At the same time, reputation has been the central resource to build this social capital and also gives place to market transactions. Additionally, the strategic position of Guadalajara city and the well-connected routes have facilitated fish bulking and distribution in the region. PMID:29016637

  6. Social networks, market transactions, and reputation as a central resource. The Mercado del Mar, a fish market in central Mexico.

    Science.gov (United States)

    Pedroza-Gutiérrez, Carmen; Hernández, Juan M

    2017-01-01

    Fish consumption in Mexico is considered low (around 12 kg per person per year) and non-homogeneously distributed across the country. One of the reasons for this situation is the scarcity of wholesale selling sites. In this context, the Mercado del Mar (MM), located in Guadalajara city, Jalisco, is the second biggest wholesale fish market in Mexico, with a distribution of about 500 tons per day and a variety of about 350 different species of fish. In this paper, we argue that MM has accumulated social capital, which is formed from two main resources: buyer and seller relationships, and reputation. Specifically, the MM manages a broad and intensive interaction among business actors and the already achieved reputation allows the MM to adapt to market changes. To validate our hypotheses, an empirical study was conducted in 2015 by means of interviews to fish wholesalers in the MM and a sample of their suppliers and buyers. For simplicity we have only considered fresh water fish. We have followed snow-ball sampling as the survey strategy. Results show that the MM has responded to fish market dynamics organizing a complex network of buyers and suppliers whose relationships can be explained in the form of strong and weak ties. At the same time, reputation has been the central resource to build this social capital and also gives place to market transactions. Additionally, the strategic position of Guadalajara city and the well-connected routes have facilitated fish bulking and distribution in the region.

  7. Supply disruption cost for power network planning

    International Nuclear Information System (INIS)

    Kjoelle, G.H.

    1992-09-01

    A description is given of the method of approach to calculate the total annual socio-economic cost of power supply disruption and non-supplied energy, included the utilities' cost for planning. The total socio-economic supply disruption cost is the sum of the customers' disruption cost and the utilities' cost for failure and disruption. The mean weighted disruption cost for Norway for one hour disruption is NOK 19 per kWh. The customers' annual disruption cost is calculated with basis in the specific disruption cost referred to heavy load (January) and dimensioning maximum loads. The loads are reduced by factors taking into account the time variations of the failure frequency, duration, the loads and the disruption cost. 6 refs

  8. The ASAC Flight Segment and Network Cost Models

    Science.gov (United States)

    Kaplan, Bruce J.; Lee, David A.; Retina, Nusrat; Wingrove, Earl R., III; Malone, Brett; Hall, Stephen G.; Houser, Scott A.

    1997-01-01

    To assist NASA in identifying research art, with the greatest potential for improving the air transportation system, two models were developed as part of its Aviation System Analysis Capability (ASAC). The ASAC Flight Segment Cost Model (FSCM) is used to predict aircraft trajectories, resource consumption, and variable operating costs for one or more flight segments. The Network Cost Model can either summarize the costs for a network of flight segments processed by the FSCM or can be used to independently estimate the variable operating costs of flying a fleet of equipment given the number of departures and average flight stage lengths.

  9. Reducing Transaction Costs for Energy Efficiency Investments and Analysis of Economic Risk Associated With Building Performance Uncertainties: Small Buildings and Small Portfolios Program

    Energy Technology Data Exchange (ETDEWEB)

    Langner, R.; Hendron, B.; Bonnema, E.

    2014-08-01

    The small buildings and small portfolios (SBSP) sector face a number of barriers that inhibit SBSP owners from adopting energy efficiency solutions. This pilot project focused on overcoming two of the largest barriers to financing energy efficiency in small buildings: disproportionately high transaction costs and unknown or unacceptable risk. Solutions to these barriers can often be at odds, because inexpensive turnkey solutions are often not sufficiently tailored to the unique circumstances of each building, reducing confidence that the expected energy savings will be achieved. To address these barriers, NREL worked with two innovative, forward-thinking lead partners, Michigan Saves and Energi, to develop technical solutions that provide a quick and easy process to encourage energy efficiency investments while managing risk. The pilot project was broken into two stages: the first stage focused on reducing transaction costs, and the second stage focused on reducing performance risk. In the first stage, NREL worked with the non-profit organization, Michigan Saves, to analyze the effects of 8 energy efficiency measures (EEMs) on 81 different baseline small office building models in Holland, Michigan (climate zone 5A). The results of this analysis (totaling over 30,000 cases) are summarized in a simple spreadsheet tool that enables users to easily sort through the results and find appropriate small office EEM packages that meet a particular energy savings threshold and are likely to be cost-effective.

  10. Minimizing communication cost among distributed controllers in software defined networks

    Science.gov (United States)

    Arlimatti, Shivaleela; Elbreiki, Walid; Hassan, Suhaidi; Habbal, Adib; Elshaikh, Mohamed

    2016-08-01

    Software Defined Networking (SDN) is a new paradigm to increase the flexibility of today's network by promising for a programmable network. The fundamental idea behind this new architecture is to simplify network complexity by decoupling control plane and data plane of the network devices, and by making the control plane centralized. Recently controllers have distributed to solve the problem of single point of failure, and to increase scalability and flexibility during workload distribution. Even though, controllers are flexible and scalable to accommodate more number of network switches, yet the problem of intercommunication cost between distributed controllers is still challenging issue in the Software Defined Network environment. This paper, aims to fill the gap by proposing a new mechanism, which minimizes intercommunication cost with graph partitioning algorithm, an NP hard problem. The methodology proposed in this paper is, swapping of network elements between controller domains to minimize communication cost by calculating communication gain. The swapping of elements minimizes inter and intra communication cost among network domains. We validate our work with the OMNeT++ simulation environment tool. Simulation results show that the proposed mechanism minimizes the inter domain communication cost among controllers compared to traditional distributed controllers.

  11. Modelling Real Property Transactions

    DEFF Research Database (Denmark)

    Stubkjær, Erik

    2003-01-01

    Der er store forskelle i financieringsomkostningerne ved hussalg i forskellige lande. Er disse forskelle nødvendige? og kan udgifterne reduceres? Sådanne spørgsmål søger forskningsprojektet ?Modelling Real Property Transactions?, officielt sat i værk indenfor rammerne af COST (European Co...

  12. Modelling Real Property Transactions

    DEFF Research Database (Denmark)

    Stubkjær, Erik

    2002-01-01

    for more elaborated concept sets - for a theoretical basis - was among the motives for proposing a concerted research project: Modelling Real Property Transactions. Researchers from 11 European countries co-operate in the project that gained status as a COST action as of March 1st 2001. The majority...

  13. Economic Assessment of Network-Constrained Transactive Energy for Managing Flexible Demand in Distribution Systems

    DEFF Research Database (Denmark)

    Hu, Junjie; Yang, Guangya; Xue, Yusheng

    2017-01-01

    's aggregation at distribution system level. We extend this method with: (1) a new modeling technique that allows the resulting congestion price to be directly interpreted as a locational marginal pricing in the system; (2) an explicit analysis of the benefits and costs of different actors when using the NCTE...... method in the system, given the high penetration of distributed energy resources. This paper firstly describes the NCTE-based distribution system that introduces a new interacting scheme for actors at the distribution system level. Then, technical modeling and economic interpretation of the NCTE...

  14. Disincentives to voluntary transactions

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

    Current legal, regulatory and institutional standards and practices provide several disincentives for a utility wishing to engage in voluntary wheeling transactions, and are discussed here. These disincentives largely arise from the fact that regulation, like the transmission system itself, is based on the notion of integrated utilities engaging in transactions largely for reliability reasons. Factors which fall into this category are: a pricing regime based on embedded costs, the ratemaking treatment of revenues derived from coordination and transmission services, and several provisions in legislation and FERC regulations

  15. Cost and Demand Characteristics of Telecom Networks

    DEFF Research Database (Denmark)

    Falch, Morten

    1997-01-01

    The Chapter presents the general characteristics of the cost and demand profiles for telecommunication services and identifies the barriers towards a free competitive market for telecommunication services related to these characteristics.......The Chapter presents the general characteristics of the cost and demand profiles for telecommunication services and identifies the barriers towards a free competitive market for telecommunication services related to these characteristics....

  16. Protecting infrastructure networks from cost-based attacks

    International Nuclear Information System (INIS)

    Wang Xingang; Guan Shuguang; Lai, Choy Heng

    2009-01-01

    It is well known that heterogeneous networks are vulnerable to the intentional removal of a small fraction of highly connected or loaded nodes, implying that to protect the network effectively, the important nodes should be allocated more defense resource than the others. However, if too much resource is allocated to the few important nodes, the numerous less-important nodes will be less protected, which if attacked together can still lead to devastating damage. A natural question is therefore how to efficiently distribute the limited defense resource among the network nodes such that the network damage is minimized against any attack strategy. In this paper, taking into account the factor of attack cost, the problem of network security is reconsidered in terms of efficient network defense against cost-based attacks. The results show that, for a general complex network, there exists an optimal distribution of the defense resource with which the network is best protected from cost-based attacks. Furthermore, it is found that the configuration of the optimal defense is dependent on the network parameters. Specifically, networks of larger size, sparser connection and more heterogeneous structure will more likely benefit from the defense optimization.

  17. Effects of network node consolidation in optical access and aggregation networks on costs and power consumption

    Science.gov (United States)

    Lange, Christoph; Hülsermann, Ralf; Kosiankowski, Dirk; Geilhardt, Frank; Gladisch, Andreas

    2010-01-01

    The increasing demand for higher bit rates in access networks requires fiber deployment closer to the subscriber resulting in fiber-to-the-home (FTTH) access networks. Besides higher access bit rates optical access network infrastructure and related technologies enable the network operator to establish larger service areas resulting in a simplified network structure with a lower number of network nodes. By changing the network structure network operators want to benefit from a changed network cost structure by decreasing in short and mid term the upfront investments for network equipment due to concentration effects as well as by reducing the energy costs due to a higher energy efficiency of large network sites housing a high amount of network equipment. In long term also savings in operational expenditures (OpEx) due to the closing of central office (CO) sites are expected. In this paper different architectures for optical access networks basing on state-of-the-art technology are analyzed with respect to network installation costs and power consumption in the context of access node consolidation. Network planning and dimensioning results are calculated for a realistic network scenario of Germany. All node consolidation scenarios are compared against a gigabit capable passive optical network (GPON) based FTTH access network operated from the conventional CO sites. The results show that a moderate reduction of the number of access nodes may be beneficial since in that case the capital expenditures (CapEx) do not rise extraordinarily and savings in OpEx related to the access nodes are expected. The total power consumption does not change significantly with decreasing number of access nodes but clustering effects enable a more energyefficient network operation and optimized power purchase order quantities leading to benefits in energy costs.

  18. Behaviour in O of the Neural Networks Training Cost

    DEFF Research Database (Denmark)

    Goutte, Cyril

    1998-01-01

    We study the behaviour in zero of the derivatives of the cost function used when training non-linear neural networks. It is shown that a fair number offirst, second and higher order derivatives vanish in zero, validating the belief that 0 is a peculiar and potentially harmful location. These calc......We study the behaviour in zero of the derivatives of the cost function used when training non-linear neural networks. It is shown that a fair number offirst, second and higher order derivatives vanish in zero, validating the belief that 0 is a peculiar and potentially harmful location....... These calculations arerelated to practical and theoretical aspects of neural networks training....

  19. Decision, Transaction, Law and Contract

    DEFF Research Database (Denmark)

    Koch, Carsten Allan

    Copy from ”Preface to Post Doctoral Dissertation” ”Decision, transaction, law and contract” The period since 1970 has witnessed an explosion in contributions to what is now often referred to as the new institutional economics. One of the most influential (but also most atypical) of these approaches...... and Hierarchies” from 1975. Since then Williamson has, almost singlehandedly, erected an impressive research program which aims at explaining the institutional structures at the micro-level under which economic transactions take place. A number of different phenomena that were very hard to rationalize given...... further. Compared to earlier contributions, the mode of analysis employed differs in at least three ways. Firstly, the analysis is made in terms of the decision premises for entering a transactional relationship. This is in opposition to traditional transaction cost economics, where the transaction...

  20. Identifying Bitcoin users by transaction behavior

    Science.gov (United States)

    Monaco, John V.

    2015-05-01

    Digital currencies, such as Bitcoin, offer convenience and security to criminals operating in the black marketplace. Some Bitcoin marketplaces, such as Silk Road, even claim anonymity. This claim contradicts the findings in this work, where long term transactional behavior is used to identify and verify account holders. Transaction timestamps and network properties observed over time contribute to this finding. The timestamp of each transaction is the result of many factors: the desire purchase an item, daily schedule and activities, as well as hardware and network latency. Dynamic network properties of the transaction, such as coin flow and the number of edge outputs and inputs, contribute further to reveal account identity. In this paper, we propose a novel methodology for identifying and verifying Bitcoin users based on the observation of Bitcoin transactions over time. The behavior we attempt to quantify roughly occurs in the social band of Newell's time scale. A subset of the Blockchain 230686 is taken, selecting users that initiated between 100 and 1000 unique transactions per month for at least 6 different months. This dataset shows evidence of being nonrandom and nonlinear, thus a dynamical systems approach is taken. Classification and authentication accuracies are obtained under various representations of the monthly Bitcoin samples: outgoing transactions, as well as both outgoing and incoming transactions are considered, along with the timing and dynamic network properties of transaction sequences. The most appropriate representations of monthly Bitcoin samples are proposed. Results show an inherent lack of anonymity by exploiting patterns in long-term transactional behavior.

  1. Cost Vs. Redundancy in FTTH Access Networks

    DEFF Research Database (Denmark)

    Haraldsson, Gustav Helgi; Pedersen, Jens Myrup

    2006-01-01

    separate distribution nodes to NT's. The cost of the ear topology is kept down by reusing trenches making extra digging minimal. The results show however that the ear topology with the home-run method is not suitable compared to the tree topology due to the extra fibers needed. Further work could apply...

  2. Impact of multilateral congestion management on the reliability of power transactions

    International Nuclear Information System (INIS)

    Rodrigues, A.B.; Da Silva, M.G.

    2003-01-01

    The restructuring of the electricity industry has caused an increase in the number of transactions in the energy market. These transactions are defined by market forces without considering operational constraints of the transmission system. Consequently, there are transactions that cause congestion in the transmission network. This paper has as objective to assess the impact of multilateral congestion management on the reliability of power transactions. This assessment is based on reliability indices such as expected power curtailments, curtailment probability, expected cost of congestion management and probability distributions of the total power curtailment. Tests results with IEEE RTS-1996 demonstrate that the multilateral management results in smaller curtailments and congestion costs than traditional bilateral management. (author)

  3. Pago por desempeño explicado desde la teoría de costos de transacción Pay for performance explained by transaction costs theory

    Directory of Open Access Journals (Sweden)

    Yuri Gorbaneff

    2011-12-01

    Full Text Available Objetivo: Evaluar la capacidad de la teoría de costos de transacción para explicar los incentivos en la cadena de salud. Métodos: Estudio de un caso de CPS, una aseguradora de salud en Bogotá (Colombia, que prefiere no publicar su nombre. Resultados: CPS se mueve en el ambiente de altos costos de transacción y utiliza la forma híbrida de gobernación en el nivel ambulatorio. La intensidad de incentivos, el control administrativo y el contrato están de acuerdo con la teoría. En el nivel hospitalario, a pesar de la alta incertidumbre, se utiliza el mercado. Los incentivos discretos tipo (1,0 y la ausencia de control administrativo dificultan a CPS relacionar el pago con el desempeño hospitalario. Conclusiones: La teoría de costos de transacción explica satisfactoriamente la configuración de los incentivos. Otro aporte a la literatura lo constituye el criterio para diferenciar entre mercado e híbrido. Se propone que para el mercado son característicos incentivos discretos tipo (1,0, mientras que para híbrido son los incentivos continuos tipo comisión.Objective: To evaluate the ability of transaction costs theory to explain incentives in the health care chain. Methods: We performed a case study of CPS, a health insurance company in Bogota (Colombia, which preferred not to publish its name. Results: CPS moves in the environment of high transaction costs and uses the hybrid form of governance at the outpatient level. Incentive intensity, administrative control and the contract all agree with the theory. At the hospital level, the market is used, despite greater uncertainty. Because of the discrete form (1.0 of the incentives and the absence of administrative control, it is difficult for CPS to relate payment to hospital performance. Conclusions: Transaction costs theory explains the configuration of incentives. Another contribution made by this theory to the literature is the criterion to differentiate between the market and the hybrid

  4. SOFTCOST - DEEP SPACE NETWORK SOFTWARE COST MODEL

    Science.gov (United States)

    Tausworthe, R. C.

    1994-01-01

    The early-on estimation of required resources and a schedule for the development and maintenance of software is usually the least precise aspect of the software life cycle. However, it is desirable to make some sort of an orderly and rational attempt at estimation in order to plan and organize an implementation effort. The Software Cost Estimation Model program, SOFTCOST, was developed to provide a consistent automated resource and schedule model which is more formalized than the often used guesswork model based on experience, intuition, and luck. SOFTCOST was developed after the evaluation of a number of existing cost estimation programs indicated that there was a need for a cost estimation program with a wide range of application and adaptability to diverse kinds of software. SOFTCOST combines several software cost models found in the open literature into one comprehensive set of algorithms that compensate for nearly fifty implementation factors relative to size of the task, inherited baseline, organizational and system environment, and difficulty of the task. SOFTCOST produces mean and variance estimates of software size, implementation productivity, recommended staff level, probable duration, amount of computer resources required, and amount and cost of software documentation. Since the confidence level for a project using mean estimates is small, the user is given the opportunity to enter risk-biased values for effort, duration, and staffing, to achieve higher confidence levels. SOFTCOST then produces a PERT/CPM file with subtask efforts, durations, and precedences defined so as to produce the Work Breakdown Structure (WBS) and schedule having the asked-for overall effort and duration. The SOFTCOST program operates in an interactive environment prompting the user for all of the required input. The program builds the supporting PERT data base in a file for later report generation or revision. The PERT schedule and the WBS schedule may be printed and stored in a

  5. Heterogeneous Deployment Analysis for Cost-Effective Mobile Network Evolution

    DEFF Research Database (Denmark)

    Coletti, Claudio

    2013-01-01

    network coverage and boosting network capacity in traffic hot-spot areas. The thesis deals with the deployment of both outdoor small cells and indoor femto cells. Amongst the outdoor solution, particular emphasis is put on relay base stations as backhaul costs can be reduced by utilizing LTE spectrum...... statistical models of deployment areas, the performance analysis is carried out in the form of operator case studies for large-scale deployment scenarios, including realistic macro network layouts and inhomogeneous spatial traffic distributions. Deployment of small cells is performed by means of proposed...... heuristic deployment algorithms, which combine network coverage and spatial user density information. As a secondary aspect, deployment solutions achieving the same coverage performance are compared in terms of Total Cost of Ownership (TCO), in order to investigate the viability of different deployment...

  6. The transactional approach in company boundaries

    Directory of Open Access Journals (Sweden)

    Bruno Chaihuaque Dueñas

    2009-12-01

    Full Text Available This article shows the relationship between market and firms through the theory of transactional cost and the relationsthat determine the structure and boundaries of the firm. Using the assumptions from the transactional cost approach,this article proposes some variables that determine optimal organizational structures and their boundaries.

  7. The cost of caring for end-stage kidney disease patients: an analysis based on hospital financial transaction records.

    Science.gov (United States)

    Bruns, F J; Seddon, P; Saul, M; Zeidel, M L

    1998-05-01

    The costs of care for end-stage renal disease patients continue to rise because of increased numbers of patients. Efforts to contain these costs have focused on the development of capitated payment schemes, in which all costs for the care of these patients are covered in a single payment. To determine the effect of a capitated reimbursement scheme on care of dialysis patients (both hemodialysis [HD] and peritoneal dialysis [PD]), complete financial records (all reimbursements for inpatient and outpatient care, as well as physician collections) of dialysis patients at a single medical center over 1 year were analyzed. For the period from July 1994 to July 1995, annualized cost per dialysis patient-year averaged $63,340, or 9.8% higher than the corrected estimate from the U.S. Renal Data Service (USRDS; $57,660). The "most expensive" 25% of patients engendered 44 to 48% of the total costs, and inpatient costs accounted for 37 to 40% of total costs. Nearly half of the inpatient costs resulted from only two categories (room charges and inpatient dialysis), whereas other categories each made up a small fraction of the inpatient costs. PD patients were far less expensive to care for than HD patients, due to reduced hospital days and lower cost of outpatient dialysis. Care for a university-based dialysis population was only slightly more expensive than estimates predicted from the USRDS. These results validate the USRDS spending data and suggest that they can be used effectively for setting capitated rates. Efforts to control costs without sacrificing quality of care must center on reducing inpatient costs, particularly room charges and the cost of inpatient dialysis.

  8. Brain Network Analysis: Separating Cost from Topology Using Cost-Integration

    Science.gov (United States)

    Ginestet, Cedric E.; Nichols, Thomas E.; Bullmore, Ed T.; Simmons, Andrew

    2011-01-01

    A statistically principled way of conducting brain network analysis is still lacking. Comparison of different populations of brain networks is hard because topology is inherently dependent on wiring cost, where cost is defined as the number of edges in an unweighted graph. In this paper, we evaluate the benefits and limitations associated with using cost-integrated topological metrics. Our focus is on comparing populations of weighted undirected graphs that differ in mean association weight, using global efficiency. Our key result shows that integrating over cost is equivalent to controlling for any monotonic transformation of the weight set of a weighted graph. That is, when integrating over cost, we eliminate the differences in topology that may be due to a monotonic transformation of the weight set. Our result holds for any unweighted topological measure, and for any choice of distribution over cost levels. Cost-integration is therefore helpful in disentangling differences in cost from differences in topology. By contrast, we show that the use of the weighted version of a topological metric is generally not a valid approach to this problem. Indeed, we prove that, under weak conditions, the use of the weighted version of global efficiency is equivalent to simply comparing weighted costs. Thus, we recommend the reporting of (i) differences in weighted costs and (ii) differences in cost-integrated topological measures with respect to different distributions over the cost domain. We demonstrate the application of these techniques in a re-analysis of an fMRI working memory task. We also provide a Monte Carlo method for approximating cost-integrated topological measures. Finally, we discuss the limitations of integrating topology over cost, which may pose problems when some weights are zero, when multiplicities exist in the ranks of the weights, and when one expects subtle cost-dependent topological differences, which could be masked by cost-integration. PMID:21829437

  9. Brain network analysis: separating cost from topology using cost-integration.

    Directory of Open Access Journals (Sweden)

    Cedric E Ginestet

    Full Text Available A statistically principled way of conducting brain network analysis is still lacking. Comparison of different populations of brain networks is hard because topology is inherently dependent on wiring cost, where cost is defined as the number of edges in an unweighted graph. In this paper, we evaluate the benefits and limitations associated with using cost-integrated topological metrics. Our focus is on comparing populations of weighted undirected graphs that differ in mean association weight, using global efficiency. Our key result shows that integrating over cost is equivalent to controlling for any monotonic transformation of the weight set of a weighted graph. That is, when integrating over cost, we eliminate the differences in topology that may be due to a monotonic transformation of the weight set. Our result holds for any unweighted topological measure, and for any choice of distribution over cost levels. Cost-integration is therefore helpful in disentangling differences in cost from differences in topology. By contrast, we show that the use of the weighted version of a topological metric is generally not a valid approach to this problem. Indeed, we prove that, under weak conditions, the use of the weighted version of global efficiency is equivalent to simply comparing weighted costs. Thus, we recommend the reporting of (i differences in weighted costs and (ii differences in cost-integrated topological measures with respect to different distributions over the cost domain. We demonstrate the application of these techniques in a re-analysis of an fMRI working memory task. We also provide a Monte Carlo method for approximating cost-integrated topological measures. Finally, we discuss the limitations of integrating topology over cost, which may pose problems when some weights are zero, when multiplicities exist in the ranks of the weights, and when one expects subtle cost-dependent topological differences, which could be masked by cost-integration.

  10. Predicting Market Impact Costs Using Nonparametric Machine Learning Models.

    Directory of Open Access Journals (Sweden)

    Saerom Park

    Full Text Available Market impact cost is the most significant portion of implicit transaction costs that can reduce the overall transaction cost, although it cannot be measured directly. In this paper, we employed the state-of-the-art nonparametric machine learning models: neural networks, Bayesian neural network, Gaussian process, and support vector regression, to predict market impact cost accurately and to provide the predictive model that is versatile in the number of variables. We collected a large amount of real single transaction data of US stock market from Bloomberg Terminal and generated three independent input variables. As a result, most nonparametric machine learning models outperformed a-state-of-the-art benchmark parametric model such as I-star model in four error measures. Although these models encounter certain difficulties in separating the permanent and temporary cost directly, nonparametric machine learning models can be good alternatives in reducing transaction costs by considerably improving in prediction performance.

  11. Predicting Market Impact Costs Using Nonparametric Machine Learning Models.

    Science.gov (United States)

    Park, Saerom; Lee, Jaewook; Son, Youngdoo

    2016-01-01

    Market impact cost is the most significant portion of implicit transaction costs that can reduce the overall transaction cost, although it cannot be measured directly. In this paper, we employed the state-of-the-art nonparametric machine learning models: neural networks, Bayesian neural network, Gaussian process, and support vector regression, to predict market impact cost accurately and to provide the predictive model that is versatile in the number of variables. We collected a large amount of real single transaction data of US stock market from Bloomberg Terminal and generated three independent input variables. As a result, most nonparametric machine learning models outperformed a-state-of-the-art benchmark parametric model such as I-star model in four error measures. Although these models encounter certain difficulties in separating the permanent and temporary cost directly, nonparametric machine learning models can be good alternatives in reducing transaction costs by considerably improving in prediction performance.

  12. Switching Fuzzy Guaranteed Cost Control for Nonlinear Networked Control Systems

    Directory of Open Access Journals (Sweden)

    Linqin Cai

    2014-01-01

    Full Text Available This paper deals with the problem of guaranteed cost control for a class of nonlinear networked control systems (NCSs with time-varying delay. A guaranteed cost controller design method is proposed to achieve the desired control performance based on the switched T-S fuzzy model. The switching mechanism is introduced to handle the uncertainties of NCSs. Based on Lyapunov functional approach, some sufficient conditions for the existence of state feedback robust guaranteed cost controller are presented. Simulation results show that the proposed method is effective to guarantee system’s global asymptotic stability and quality of service (QoS.

  13. Network cost in transmission and distribution of electric power

    International Nuclear Information System (INIS)

    Lindahl, A.; Naeslund, B.; Oettinger-Biberg, C.; Olander, H.; Wuolikainen, T.; Fritz, P.

    1994-01-01

    This report is divided in two parts, where part 1 treats the charges on the regional nets with special emphasis on the net owners tariffs on a deregulated market. Part 2 describes the development of the network costs in electric power distribution for the period 1991-1993. 11 figs, 33 tabs

  14. evaluation of total annual costs of heat exchanger networks using

    African Journals Online (AJOL)

    This study presents pinch analysis of some heat exchanger networks (HENs) problems using Hint integration (HINT) software. Three examples reported to have been solved using different approaches by various researchers to obtain the least possible total annual cost (TAC) were solved using the Hint software. In this work ...

  15. An efficient and cost effective nuclear medicine image network

    International Nuclear Information System (INIS)

    Sampathkumaran, K.S.; Miller, T.R.

    1987-01-01

    An image network that is in use in a large nuclear medicine department is described. This network was designed to efficiently handle a large volume of clinical data at reasonable cost. Small, limited function computers are attached to each scintillation camera for data acquisition. The images are transferred by cable network or floppy disc to a large, powerful central computer for processing and display. Cost is minimized by use of small acquisition computers not equipped with expensive video display systems or elaborate analysis software. Thus, financial expenditure can be concentrated in a powerful central computer providing a centralized data base, rapid processing, and an efficient environment for program development. Clinical work is greatly facilitated because the physicians can process and display all studies without leaving the main reading area. (orig.)

  16. Coevolution of Synchronization and Cooperation in Costly Networked Interactions

    Science.gov (United States)

    Antonioni, Alberto; Cardillo, Alessio

    2017-06-01

    Despite the large number of studies on synchronization, the hypothesis that interactions bear a cost for involved individuals has seldom been considered. The introduction of costly interactions leads, instead, to the formulation of a dichotomous scenario in which an individual may decide to cooperate and pay the cost in order to get synchronized with the rest of the population. Alternatively, the same individual can decide to free ride, without incurring any cost, waiting for others to get synchronized to his or her state. Thus, the emergence of synchronization may be seen as the byproduct of an evolutionary game in which individuals decide their behavior according to the benefit-to-cost ratio they accrued in the past. We study the onset of cooperation and synchronization in networked populations of Kuramoto oscillators and report how topology is essential in order for cooperation to thrive. We also display how different classes of topology foster synchronization differently both at microscopic and macroscopic levels.

  17. Addressing governance challenges in the provision of animal health services: A review of the literature and empirical application transaction cost theory.

    Science.gov (United States)

    Ilukor, John; Birner, Regina; Nielsen, Thea

    2015-11-01

    Providing adequate animal health services to smallholder farmers in developing countries has remained a challenge, in spite of various reform efforts during the past decades. The focuses of the past reforms were on market failures to decide what the public sector, the private sector, and the "third sector" (the community-based sector) should do with regard to providing animal health services. However, such frameworks have paid limited attention to the governance challenges inherent in the provision of animal health services. This paper presents a framework for analyzing institutional arrangements for providing animal health services that focus not only on market failures, but also on governance challenges, such as elite capture, and absenteeism of staff. As an analytical basis, Williamson's discriminating alignment hypothesis is applied to assess the cost-effectiveness of different institutional arrangements for animal health services in view of both market failures and governance challenges. This framework is used to generate testable hypotheses on the appropriateness of different institutional arrangements for providing animal health services, depending on context-specific circumstances. Data from Uganda and Kenya on clinical veterinary services is used to provide an empirical test of these hypotheses and to demonstrate application of Williamson's transaction cost theory to veterinary service delivery. The paper concludes that strong public sector involvement, especially in building and strengthening a synergistic relation-based referral arrangement between paraprofessionals and veterinarians is imperative in improving animal health service delivery in developing countries. Copyright © 2015 Elsevier B.V. All rights reserved.

  18. Remedial transactions curtailment via optimization

    Directory of Open Access Journals (Sweden)

    Maksimović Viktor

    2009-01-01

    Full Text Available The new method developed in this paper is aiming at transmission congestion management (CM. The new, Optimal Transactions Management method (OTM, is based on linear programming (LP, DC load flow (DCLF and linear security constraints. The OTM method is embedded in Available Transfer Capabilities (ATCs and Power Transfer Distribution Factors (PTDFs definitions' environment. Well-suited for both preventive and corrective modes of operation, the OTM method aids transmission system operator in running a congested power system network, where congestions are due to transactions. Potential congestion threat is solved by finding the 'culprit' transaction and its optimal reduction. Besides the proposed downsizing of scheduled and/or committed transactions, controls of the OTM method also include redispatching of generation and load levels. The task is to establish a system state without constraint violations. To ensure the feasible network solution, both DC and AC power flows are used. The common 5 nodes/7 lines Ward&Hale sample power system is used to clarify the OTM method. Besides, six other power system networks including the real-life power system network of Serbia, Macedonia and Montenegro (part of the South East Europe - SEE grid are used to test remedial potentials and CPU-time performances of the method. The 24-hour daily demand diagram is used with all test networks to study the effects of transactions as they are being superimposed to the regional grid. The remedial, transactions-curtailing OTM method is found well suited for market-related analyses precluding the hour-ahead, the day-ahead dispatch, as well as the real-time generation dispatch. It could also suit for the novel, Day Ahead Congestion Forecast (DACF procedure used in power markets. .

  19. Designing Green Networks and Network Operations Saving Run-the-Engine Costs

    CERN Document Server

    Minoli, Daniel

    2011-01-01

    In recent years the confluence of socio-political trends toward environmental responsibility and the pressing need to reduce Run-the-Engine (RTE) costs has given birth to a nascent discipline of Green IT. A clear and concise introduction to green networks and green network operations, this book examines analytical measures and discusses virtualization, network computing, and web services as approaches for green data centers and networks. It identifies some strategies for green appliance and end devices and examines the methodical steps that can be taken over time to achieve a seamless migratio

  20. A Transaction Cost Analysis of Dutch Hospital Care Contracting between hospitals and health insurance companies in a deregulated environment

    NARCIS (Netherlands)

    C.A. Brandenburg (Claudia)

    2008-01-01

    textabstractThe Dutch government has started a process of reformation in the Dutch healthcare. The goal of this reformation is cost efficient healthcare in the Netherlands. Hospitals and health insurance companies in the Netherlands experience changes in regulations and funding. They are expected

  1. Transactional costs of the interaction between business and government as a threat to the economic security of the state

    Directory of Open Access Journals (Sweden)

    Evmenov Aleksandr

    2018-01-01

    Full Text Available The article considers the costs of the interaction between the state and business as a threat to the development of the economy of the Russian Federation from the point of view of ensuring economic security. The authors identified significant obstacles both from the business and from the government side, which pose a threat to economic security. The study is of interest for the further development of a system of providing the economic security of the Russian Federation.

  2. Preserving Transactional Data

    OpenAIRE

    Sara Day Thomson

    2017-01-01

    This paper is an adaptation of a longer report commissioned by the UK Data Service. The longer report contributes to on-going support for the Big Data Network – a programme funded by the Economic and Social Research Council (ESRC). The longer report can be found at doi:10.7207/twr16-02. This paper discusses requirements for preserving transactional data and the accompanying challenges facing the companies and institutions who aim to re-use these data for analysis or research. It present...

  3. Design and management of networks with fixed transportation costs

    OpenAIRE

    Lange, Jean-Charles

    2010-01-01

    Reusable packages are logistic items used for the shipments of goods from a producer to its customers and which, once the goods have been consumed by the customers, are to be returned to the producer. This doctoral thesis addresses the strategic design and the operational management of large independent reverse networks for their return flows when fixed transportation costs apply. At the strategic level, we identify the economic logic by which the allocation of the customers should be made...

  4. Towards Scalable Cost-Effective Service and Survivability Provisioning in Ultra High Speed Networks

    Energy Technology Data Exchange (ETDEWEB)

    Bin Wang

    2006-12-01

    Optical transport networks based on wavelength division multiplexing (WDM) are considered to be the most appropriate choice for future Internet backbone. On the other hand, future DOE networks are expected to have the ability to dynamically provision on-demand survivable services to suit the needs of various high performance scientific applications and remote collaboration. Since a failure in aWDMnetwork such as a cable cut may result in a tremendous amount of data loss, efficient protection of data transport in WDM networks is therefore essential. As the backbone network is moving towards GMPLS/WDM optical networks, the unique requirement to support DOE’s science mission results in challenging issues that are not directly addressed by existing networking techniques and methodologies. The objectives of this project were to develop cost effective protection and restoration mechanisms based on dedicated path, shared path, preconfigured cycle (p-cycle), and so on, to deal with single failure, dual failure, and shared risk link group (SRLG) failure, under different traffic and resource requirement models; to devise efficient service provisioning algorithms that deal with application specific network resource requirements for both unicast and multicast; to study various aspects of traffic grooming in WDM ring and mesh networks to derive cost effective solutions while meeting application resource and QoS requirements; to design various diverse routing and multi-constrained routing algorithms, considering different traffic models and failure models, for protection and restoration, as well as for service provisioning; to propose and study new optical burst switched architectures and mechanisms for effectively supporting dynamic services; and to integrate research with graduate and undergraduate education. All objectives have been successfully met. This report summarizes the major accomplishments of this project. The impact of the project manifests in many aspects: First

  5. From Transactional to Transformational Accounting.

    Science.gov (United States)

    Cooper, Bruce S.; Randall, E. Vance

    1998-01-01

    Accurate transactional financial data are necessary for governmental compliance; transformational information is crucial for measuring and improving school performance. Some districts are shifting from a systems to a service, focus, from partial to full-cost accounting, from centralized to decentralized reporting procedures and facilities, and…

  6. Road networks as collections of minimum cost paths

    Science.gov (United States)

    Wegner, Jan Dirk; Montoya-Zegarra, Javier Alexander; Schindler, Konrad

    2015-10-01

    We present a probabilistic representation of network structures in images. Our target application is the extraction of urban roads from aerial images. Roads appear as thin, elongated, partially curved structures forming a loopy graph, and this complex layout requires a prior that goes beyond standard smoothness and co-occurrence assumptions. In the proposed model the network is represented as a union of 1D paths connecting distant (super-)pixels. A large set of putative candidate paths is constructed in such a way that they include the true network as much as possible, by searching for minimum cost paths in the foreground (road) likelihood. Selecting the optimal subset of candidate paths is posed as MAP inference in a higher-order conditional random field. Each path forms a higher-order clique with a type of clique potential, which attracts the member nodes of cliques with high cumulative road evidence to the foreground label. That formulation induces a robust PN -Potts model, for which a global MAP solution can be found efficiently with graph cuts. Experiments with two road data sets show that the proposed model significantly improves per-pixel accuracies as well as the overall topological network quality with respect to several baselines.

  7. How should fixed costs in the network be covered?

    International Nuclear Information System (INIS)

    1999-01-01

    The report examines how tariffs that are only meant to cover costs in the transmission network should be formulated. Should the tariffs be based on power figures, such as for instance installed production capacity, or on an energy figure such as total annual energy production? Tariffs based on the producers' installed production capacity will in the long run cause the prises to rise under peak loads while tariffs based on generated energy elevate the consumer price by a small amount for all load segments. Thus, tariffs based on installed power capacity cause greater price distortion and greater socio-economic losses than energy tariffs. There are good arguments that fixed costs should mainly be paid by consumers with inelastic demand

  8. Unconventional uranium transactions

    International Nuclear Information System (INIS)

    Anderson, S.C.

    1981-01-01

    The purpose of this paper is to describe some representative unconventional transactions which have been observed in the uranium market; to explain the circumstances giving rise to these transactions; and to describe the benefits resulting from these transactions. Unconventional transactions are usually quite specialized, since they are tailored to meet the particular needs of specific market participants. Nevertheless, most of these transactions fall into the following basic categories: multi-party (back-to-back; bridge); swap (deconversion; nationality); barter; inventory financing (leasing with repurchase obligation; sale with repurchase option). These transactions are explained and discussed. (U.K.)

  9. "Should I Buy or Should I Grow?" How drug policy institutions and drug market transaction costs shape the decision to self-supply with cannabis in the Netherlands and the Czech Republic.

    Science.gov (United States)

    Belackova, Vendula; Maalsté, Nicole; Zabransky, Tomas; Grund, Jean Paul

    2015-03-01

    This paper uses the framework of institutional economics to assess the impact of formal and informal institutions that influence the transaction costs on the cannabis market, and users' decisions to self-supply in the Czech Republic and the Netherlands, two countries with seemingly identical policies towards cannabis cultivation. A comparative analysis was conducted using secondary qualitative and quantitative data in four areas that were identified as relevant to the decision to cultivate cannabis: (i) the rules of the game - cannabis cultivation policy; (ii) "playing the game" - implementation of cannabis cultivation policy, (iii) informal institutions - cannabis cultivation culture, and (iv) the transaction costs of the cannabis market - availability, quality, and relative cannabis prices adjusted by purchasing power parity. Although the two policies are similar, their implementation differs substantially. In the Czech Republic, law enforcement has focused almost exclusively on large-scale cultivation. This has resulted in a competitive small-scale cultivation market, built upon a history of cannabis self-supply, which is pushing cannabis prices down. In the Netherlands, the costs of establishing one's own self-supply have historically outweighed the costs associated with buying in coffee shops. Additionally, law enforcement has recently pushed small-scale growers away from the market, and a large-scale cannabis supply, partly controlled by organised criminal groups, has been established that is driving prices up. The Czech cannabis prices have become relatively lower than the Dutch prices only recently, and the decision to buy on the market or to self-supply will be further shaped by the transactions costs on both markets, by policy implementation and by the local culture. The ability to learn from the impacts of cannabis cultivation policies conducted within the framework of UN drug treaties is particularly important at a time when increasing numbers of

  10. Transaction Costs in Housing Markets

    NARCIS (Netherlands)

    Ommeren, van Jos

    2008-01-01

    According to economic theory, there are no strong reasons to tax (or to subsidise) residential moves, although low levels of taxation may be potentially justified to deal with the presence of externalities and economic stability. This is in contrast to practise in most countries where governments

  11. Construction of road network vulnerability evaluation index based on general travel cost

    Science.gov (United States)

    Leng, Jun-qiang; Zhai, Jing; Li, Qian-wen; Zhao, Lin

    2018-03-01

    With the development of China's economy and the continuous improvement of her urban road network, the vulnerability of the urban road network has attracted increasing attention. Based on general travel cost, this work constructs the vulnerability evaluation index for the urban road network, and evaluates the vulnerability of the urban road network from the perspective of user generalised travel cost. Firstly, the generalised travel cost model is constructed based on vehicle cost, travel time, and traveller comfort. Then, the network efficiency index is selected as an evaluation index of vulnerability: the network efficiency index is composed of the traffic volume and the generalised travel cost, which are obtained from the equilibrium state of the network. In addition, the research analyses the influence of traffic capacity decrease, road section attribute value, and location of road section, on vulnerability. Finally, the vulnerability index is used to analyse the local area network of Harbin and verify its applicability.

  12. A trans-acting locus regulates an anti-viral expression network and type 1 diabetes risk

    Czech Academy of Sciences Publication Activity Database

    Heinig, M.; Petretto, E.; Wallace, C.; Bottolo, L.; Rotival, M.; Lu, H.; Li, Y.; Sarwar, R.; Langley, S. R.; Bauerfeind, A.; Hummel, O.; Lee, Y. A.; Paskas, S.; Rintisch, C.; Saar, K.; Cooper, J.; Buchan, R.; Gray, C. C.; Cyster, J. G.; Erdmann, J.; Hengstenberg, C.; Maouche, S.; Ouwehand, W. H.; Rice, C. M.; Samani, N. J.; Schunkert, H.; Goodall, A. H.; Schulz, H.; Roider, H. G.; Vingron, M.; Blankenberg, S.; Münzel, T.; Zeller, T.; Szymczak, S.; Ziegler, A.; Tiret, L.; Smyth, D. J.; Pravenec, Michal; Aitman, T. J.; Cambien, F.; Clayton, D.; Todd, J. A.; Hubner, N.; Cook, S.A.

    2010-01-01

    Roč. 467, č. 7314 (2010), s. 460-464 ISSN 0028-0836 R&D Projects: GA MŠk(CZ) 1M0520; GA ČR GAP301/10/0290 Institutional research plan: CEZ:AV0Z50110509 Keywords : IRF7 driven inflammatory network * Ebi2 * type 1 diabetes Subject RIV: EB - Genetics ; Molecular Biology Impact factor: 36.101, year: 2010

  13. Unsupervised Neural Network Quantifies the Cost of Visual Information Processing.

    Science.gov (United States)

    Orbán, Levente L; Chartier, Sylvain

    2015-01-01

    Untrained, "flower-naïve" bumblebees display behavioural preferences when presented with visual properties such as colour, symmetry, spatial frequency and others. Two unsupervised neural networks were implemented to understand the extent to which these models capture elements of bumblebees' unlearned visual preferences towards flower-like visual properties. The computational models, which are variants of Independent Component Analysis and Feature-Extracting Bidirectional Associative Memory, use images of test-patterns that are identical to ones used in behavioural studies. Each model works by decomposing images of floral patterns into meaningful underlying factors. We reconstruct the original floral image using the components and compare the quality of the reconstructed image to the original image. Independent Component Analysis matches behavioural results substantially better across several visual properties. These results are interpreted to support a hypothesis that the temporal and energetic costs of information processing by pollinators served as a selective pressure on floral displays: flowers adapted to pollinators' cognitive constraints.

  14. Transaction-Based Building Controls Framework, Volume 1: Reference Guide

    Energy Technology Data Exchange (ETDEWEB)

    Somasundaram, Sriram [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Pratt, Robert G. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Akyol, Bora A. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Fernandez, Nicholas [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Foster, Nikolas AF [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Katipamula, Srinivas [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Mayhorn, Ebony T. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Somani, Abhishek [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Steckley, Andrew C. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Taylor, Zachary T. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States)

    2014-12-01

    This document proposes a framework concept to achieve the objectives of raising buildings’ efficiency and energy savings potential benefitting building owners and operators. We call it a transaction-based framework, wherein mutually-beneficial and cost-effective market-based transactions can be enabled between multiple players across different domains. Transaction-based building controls are one part of the transactional energy framework. While these controls realize benefits by enabling automatic, market-based intra-building efficiency optimizations, the transactional energy framework provides similar benefits using the same market -based structure, yet on a larger scale and beyond just buildings, to the society at large.

  15. [Cost estimation of an epidemiological surveillance network for animal diseases in Central Africa: a case study of the Chad network].

    Science.gov (United States)

    Ouagal, M; Berkvens, D; Hendrikx, P; Fecher-Bourgeois, F; Saegerman, C

    2012-12-01

    In sub-Saharan Africa, most epidemiological surveillance networks for animal diseases were temporarily funded by foreign aid. It should be possible for national public funds to ensure the sustainability of such decision support tools. Taking the epidemiological surveillance network for animal diseases in Chad (REPIMAT) as an example, this study aims to estimate the network's cost by identifying the various costs and expenditures for each level of intervention. The network cost was estimated on the basis of an analysis of the operational organisation of REPIMAT, additional data collected in surveys and interviews with network field workers and a market price listing for Chad. These costs were then compared with those of other epidemiological surveillance networks in West Africa. The study results indicate that REPIMAT costs account for 3% of the State budget allocated to the Ministry of Livestock. In Chad in general, as in other West African countries, fixed costs outweigh variable costs at every level of intervention. The cost of surveillance principally depends on what is needed for surveillance at the local level (monitoring stations) and at the intermediate level (official livestock sectors and regional livestock delegations) and on the cost of the necessary equipment. In African countries, the cost of surveillance per square kilometre depends on livestock density.

  16. Network resilience against intelligent attacks constrained by the degree-dependent node removal cost

    International Nuclear Information System (INIS)

    Annibale, A; Coolen, A C C; Bianconi, G

    2010-01-01

    We study the resilience of complex networks against attacks in which nodes are targeted intelligently, but where disabling a node has a cost to the attacker which depends on its degree. Attackers have to meet these costs with limited resources, which constrains their actions. A network's integrity is quantified in terms of the efficacy of the process that it supports. We calculate how the optimal attack strategy and the most attack-resistant network degree statistics depend on the node removal cost function and the attack resources. The resilience of networks against intelligent attacks is found to depend strongly on the node removal cost function faced by the attacker. In particular, if node removal costs increase sufficiently fast with the node degree, power law networks are found to be more resilient than Poissonian ones, even against optimized intelligent attacks. For cost functions increasing quadratically in the node degrees, intelligent attackers cannot damage the network more than random damages would.

  17. Validez de un modelo basado en los costes de transacción para identificar los beneficios de los SIIO Validity of a model based on the transaction costs to identify the benefits from IOS

    Directory of Open Access Journals (Sweden)

    Piercarlo Maggiolini

    2002-12-01

    Full Text Available El objetivo principal de este trabajo de investigación es verificar la validez de un modelo basado en los costes de transacción, para evaluar el impacto de la introducción y uso de los Sistemas de Información Interorganizativos (SIIO en las empresas. Se propone un modelo que considera diferentes tipos de beneficios, y después, a modo exploratorio, se aplica a la identificación de los beneficios obtenidos por el uso de Sistemas de Intercambio Electrónico de Datos (EDI en un grupo de empresas del sector de bienes de gran consumo. La verificación del modelo propuesto en una tecnología "clásica" ha permitido confirmar la utilidad del mismo para identificar los beneficios y especialmente aquellos situados a nivel interorganizativo.The main objective of this research work is the verification of the validity of a model based on the transaction costs, to be used for the impact evaluation of the introduction and use of Interorganizational Information Systems (IOS in companies. This model which has been proposed takes into consideration different kinds of benefits, and later in an exploratory way, it is applied to the benefits identification in using Electronic Data Interchange Systems (EDI in some enterprises within the mass consumer industry. The verification of the proposed model on a "classic" technology has allowed to confirm its usefulness for the identification of the benefits and mainly for those placed at the interorganizative level.

  18. [Self-owned versus accredited network: comparative cost analysis in a Brazilian health insurance provider].

    Science.gov (United States)

    Souza, Marcos Antônio de; Salvalaio, Dalva

    2010-10-01

    to analyze the cost of a self-owned network maintained by a Brazilian health insurance provider as compared to the price charged by accredited service providers, so as to identify whether or not the self-owned network is economically advantageous. for this exploratory study, the company's management reports were reviewed. The cost associated with the self-owned network was calculated based on medical and dental office visits and diagnostic/laboratory tests performed at one of the company's most representative facilities. The costs associated with third parties were derived from price tables used by the accredited network for the same services analyzed in the self-owned network. The full-cost method was used for cost quantification. Costs are presented as absolute values (in R$) and percent comparisons between self-owned network costs versus accredited network costs. overall, the self-owned network was advantageous for medical and dental consultations as well as diagnostic and laboratory tests. Pediatric and labor medicine consultations and x-rays were less costly in the accredited network. the choice of verticalization has economic advantages for the health care insurance operator in comparison with services provided by third parties.

  19. Effects of cost metric on cost-effectiveness of protected-area network design in urban landscapes.

    Science.gov (United States)

    Burkhalter, J C; Lockwood, J L; Maslo, B; Fenn, K H; Leu, K

    2016-04-01

    A common goal in conservation planning is to acquire areas that are critical to realizing biodiversity goals in the most cost-effective manner. The way monetary acquisition costs are represented in such planning is an understudied but vital component to realizing cost efficiencies. We sought to design a protected-area network within a forested urban region that would protect 17 birds of conservation concern. We compared the total costs and spatial structure of the optimal protected-area networks produced using three acquisition-cost surrogates (area, agricultural land value, and tax-assessed land value). Using the tax-assessed land values there was a 73% and 78% cost savings relative to networks derived using area or agricultural land value, respectively. This cost reduction was due to the considerable heterogeneity in acquisition costs revealed in tax-assessed land values, especially for small land parcels, and the corresponding ability of the optimization algorithm to identify lower-cost parcels for inclusion that had equal value to our target species. Tax-assessed land values also reflected the strong spatial differences in acquisition costs (US$0.33/m(2)-$55/m(2)) and thus allowed the algorithm to avoid inclusion of high-cost parcels when possible. Our results add to a nascent but growing literature that suggests conservation planners must consider the cost surrogate they use when designing protected-area networks. We suggest that choosing cost surrogates that capture spatial- and size-dependent heterogeneity in acquisition costs may be relevant to establishing protected areas in urbanizing ecosystems. © 2015 Society for Conservation Biology.

  20. Cost allocation model for distribution networks considering high penetration of distributed energy resources

    DEFF Research Database (Denmark)

    Soares, Tiago; Pereira, Fábio; Morais, Hugo

    2015-01-01

    The high penetration of distributed energy resources (DER) in distribution networks and the competitive environment of electricity markets impose the use of new approaches in several domains. The network cost allocation, traditionally used in transmission networks, should be adapted and used...... in the distribution networks considering the specifications of the connected resources. The main goal is to develop a fairer methodology trying to distribute the distribution network use costs to all players which are using the network in each period. In this paper, a model considering different type of costs (fixed......, losses, and congestion costs) is proposed comprising the use of a large set of DER, namely distributed generation (DG), demand response (DR) of direct load control type, energy storage systems (ESS), and electric vehicles with capability of discharging energy to the network, which is known as vehicle...

  1. Minimisation of a heat exchanger networks' cost over its lifetime

    International Nuclear Information System (INIS)

    Nemet, Andreja; Klemeš, Jiří Jaromír; Kravanja, Zdravko

    2012-01-01

    The optimal design of heat exchanger networks (HENs) has a great influence on the profitability of a plant. The optimisation is based on trade-offs between investment and operational cost. The full lifetime of the HEN and future utility prices have to be considered rather than optimising HEN on a yearly basis using current utility prices. Single-period optimisation and synthesis models for HENs reflect current utility prices only. These prices can fluctuate rather quickly and the optimal solution may be very different from a year to year. Deterministic and stochastic multi-period mixed-integer nonlinear programming (MINLP) models for HEN synthesis have been developed to account for future price projections, where the utility cost coefficients are forecasted for the lifetime of the process. An optimal design is then determined for each projection and these designs are compared against a design with fixed current prices by applying the Incremental Net Present Value and other economic measures. In case studies the difference between utility consumption, using previous optimisation methods and new, were significant; e.g. in Case Study 2 the utility savings were 18.4% for hot and 32.6% for cold utility yielding an increase of the Net Present Value (NPV) by 7.8%. Highlights: ► Optimisation using forecasted utility prices can lead to higher energy recovery. ► Incremental Net Present Value when using future versus current prices is positive. ► The reduction of utilities increases with the process lifetime. ► Developed multi-period MINLP models for HEN account for future utility prices.

  2. Visualizing Dynamic Bitcoin Transaction Patterns

    Science.gov (United States)

    McGinn, Dan; Birch, David; Akroyd, David; Molina-Solana, Miguel; Guo, Yike; Knottenbelt, William J.

    2016-01-01

    Abstract This work presents a systemic top-down visualization of Bitcoin transaction activity to explore dynamically generated patterns of algorithmic behavior. Bitcoin dominates the cryptocurrency markets and presents researchers with a rich source of real-time transactional data. The pseudonymous yet public nature of the data presents opportunities for the discovery of human and algorithmic behavioral patterns of interest to many parties such as financial regulators, protocol designers, and security analysts. However, retaining visual fidelity to the underlying data to retain a fuller understanding of activity within the network remains challenging, particularly in real time. We expose an effective force-directed graph visualization employed in our large-scale data observation facility to accelerate this data exploration and derive useful insight among domain experts and the general public alike. The high-fidelity visualizations demonstrated in this article allowed for collaborative discovery of unexpected high frequency transaction patterns, including automated laundering operations, and the evolution of multiple distinct algorithmic denial of service attacks on the Bitcoin network. PMID:27441715

  3. Visualizing Dynamic Bitcoin Transaction Patterns.

    Science.gov (United States)

    McGinn, Dan; Birch, David; Akroyd, David; Molina-Solana, Miguel; Guo, Yike; Knottenbelt, William J

    2016-06-01

    This work presents a systemic top-down visualization of Bitcoin transaction activity to explore dynamically generated patterns of algorithmic behavior. Bitcoin dominates the cryptocurrency markets and presents researchers with a rich source of real-time transactional data. The pseudonymous yet public nature of the data presents opportunities for the discovery of human and algorithmic behavioral patterns of interest to many parties such as financial regulators, protocol designers, and security analysts. However, retaining visual fidelity to the underlying data to retain a fuller understanding of activity within the network remains challenging, particularly in real time. We expose an effective force-directed graph visualization employed in our large-scale data observation facility to accelerate this data exploration and derive useful insight among domain experts and the general public alike. The high-fidelity visualizations demonstrated in this article allowed for collaborative discovery of unexpected high frequency transaction patterns, including automated laundering operations, and the evolution of multiple distinct algorithmic denial of service attacks on the Bitcoin network.

  4. Unsupervised Neural Network Quantifies the Cost of Visual Information Processing.

    Directory of Open Access Journals (Sweden)

    Levente L Orbán

    Full Text Available Untrained, "flower-naïve" bumblebees display behavioural preferences when presented with visual properties such as colour, symmetry, spatial frequency and others. Two unsupervised neural networks were implemented to understand the extent to which these models capture elements of bumblebees' unlearned visual preferences towards flower-like visual properties. The computational models, which are variants of Independent Component Analysis and Feature-Extracting Bidirectional Associative Memory, use images of test-patterns that are identical to ones used in behavioural studies. Each model works by decomposing images of floral patterns into meaningful underlying factors. We reconstruct the original floral image using the components and compare the quality of the reconstructed image to the original image. Independent Component Analysis matches behavioural results substantially better across several visual properties. These results are interpreted to support a hypothesis that the temporal and energetic costs of information processing by pollinators served as a selective pressure on floral displays: flowers adapted to pollinators' cognitive constraints.

  5. Balancing collective and individual interests in transactive energy management of interconnected micro-grid clusters

    International Nuclear Information System (INIS)

    Chen, Yang; Hu, Mengqi

    2016-01-01

    The emerging technology, transactive energy network, can allow multiple interconnected micro-grids (a.k.a. micro-grid clusters) to exchange energy for greater energy efficiency. Existing research has demonstrated that the micro-grid clusters can achieve some collective interests (e.g., minimizing total energy cost). However, some micro-grids may have to make sacrifices of their individual interests (e.g., increasing cost) for collective interests of the clusters. To bridge these research gaps, we propose four different transactive energy management models for micro-grid clusters where each micro-grid is allowed to have energy transactions with others. The first model focuses on maximizing collective interests, both the collective and individual interests are considered in the second model, and the last two models aim to maximize both the collective and individual interests. The performances of the proposed models are evaluated using a cluster of sixteen micro-grids with different energy profiles. It is demonstrated that 1) all of the four models can maximize the collective interests, 2) the third model can maximize the relative individual interests where each micro-grid can achieve the same percentage of cost savings as the clusters, and 3) the fourth model can maximize the absolute individual interests where each micro-grid can achieve the same amount of cost savings. - Highlights: • A modeling framework is developed for transactive energy management of the micro-grid clusters. • Four operation decision models are developed to balance the collective and individual interests. • The prices of local energy transaction are modeled. • The micro-grid clusters can achieve 15.34% energy cost savings.

  6. The transaction management perspective on procurement in the era of globalization

    NARCIS (Netherlands)

    den Butter, F.A.G.

    2012-01-01

    Fragmentation of production into more and more complex supply chains is a prominent feature of globalisation. Transaction management purports to minimise the transaction costs associated with this fragmentation of production. In this era of globalisation, transaction costs carry a large weight in

  7. Low-Cost Ground Sensor Network for Intrusion Detection

    Science.gov (United States)

    2017-09-01

    their suitability to our research. 1. Wireless Sensor Networks The backend network infrastructure forms the communication links for the network...were not ideal as they were perpetually turned on. Our research considered the backend communication infrastructure and its power requirements when...7 3. Border Patrol— Mobile Situation Awareness Tool (MSAT

  8. The influence of network characteristics on costs in pharmaceutical new product development

    DEFF Research Database (Denmark)

    Buonansegna, Erika; Schultz, Carsten; Stargardt, Tom

    2015-01-01

    This paper develops a model relating prior experiences, network stability, exclusive partnership, geographical distance, and intermediation in inter-firm R&D networks to new product development (NPD) costs. The developed hypotheses are tested with unique multilevel R&D partnership data from 33...... becomes relevant for non-exclusive partnerships and dispersed networks. NPD costs also increase in more stable networks, reflecting the relevance of structural holes for control and information advantages. This study contributes to the network management literature by understanding the relation between...

  9. Combining Tasking and Transactions

    OpenAIRE

    Kienzle, Jörg

    1999-01-01

    This position paper discusses the issues in design and development of a transaction support for Ada 95. Transactions and other fault tolerance mechanisms are reviewed, and their applicability in a concurrent programming language is analyzed. Possible ways of integration are presented and implementation problems are discussed.

  10. Cost sharing in production situations and network exploitation

    NARCIS (Netherlands)

    Koster, M.A.L.

    1999-01-01

    In many real-life situations where individuals work together in a joint project, joint costs (or profits) occur which have to be shared. The central problem of cost sharing is the allocation of costs in a 'just' way among the participants. Examples are numerous and range from setting fees for the

  11. Structure and Anonymity of the Bitcoin Transaction Graph

    Directory of Open Access Journals (Sweden)

    Kay Hamacher

    2013-05-01

    Full Text Available The Bitcoin network of decentralized payment transactions has attracted a lot of attention from both Internet users and researchers in recent years. Bitcoin utilizes a peer-to-peer network to issue anonymous payment transactions between different users. In the currently used Bitcoin clients, the full transaction history is available at each node of the network to prevent double spending without the need for a central authority, forming a valuable source for empirical research on network structure, network dynamics, and the implied anonymity challenges, as well as guidance on the future evolution of complex payment systems. We found dynamical effects of which some increase anonymity while others decrease it. Most importantly, several parameters of the Bitcoin transaction graph seem to have become stationary over the last 12–18 months. We discuss the implications.

  12. Robust and Cost-Efficient Communication Based on SNMP in Mobile Networks

    Science.gov (United States)

    Ryu, Sang-Hoon; Baik, Doo-Kwon

    A main challenge in the design of this mobile network is the development of dynamic routing protocols that can efficiently find routes between two communicating nodes. Multimedia streaming services are receiving considerable interest in the mobile network business. An entire mobile network may change its point of attachment to the Internet. The mobile network is operated by a basic specification to support network mobility called Network Mobility (NEMO) Basic Support. However, NEMO basic Support mechanism has some problem in continuous communication. In this paper, we propose robust and cost-efficient algorithm. And we simulate proposed method and conclude some remarks.

  13. The calculation of costs of postal network and universal postal service based on standard and average cost principles

    Directory of Open Access Journals (Sweden)

    Blagojević Mladenka Z.

    2017-01-01

    Full Text Available The provision of universal postal service involves high costs for operator, especially in rural areas. The aim of this paper is to propose and test tool for managing the cost of providing universal postal service and maintaining the postal network in order to facilitate understanding of the problem in the sector. The proposed approach use standard prices and standard quantities (the redefined number of postal units, the number of employees, etc. as well as average costs for calculation of the costs of the universal postal service and postal network. The methodology provides the efficiency analysis, benchmarking and identification of causes of poor performance of management and resource allocation. It can be used for postal operators that do not have modern accounting systems.

  14. Low Cost Wireless Sensor Network for Continuous Bridge monitoring

    DEFF Research Database (Denmark)

    Han, Bo; Kalis, A; Tragas, P

    2012-01-01

    Continuous monitoring wireless sensor networks (WSN) are considered as one of the most promising means to harvest information from large structures in order to assist in structural health monitoring and management. At the same time, continuous monitoring WSNs suffer from limited network lifetimes...

  15. The Role of Trust in Costly Network Formation

    NARCIS (Netherlands)

    Gilles, R.P.; Sarangi, S.

    2003-01-01

    We consider game theoretic models of social network formation.In this paper we limit our investigation to game theoretic models of network formation that are based on individual actions only.Our approach is based on three simple and realistic principles: (1) Link formation is a binary process of

  16. Transactions in Software Components: Container-Interposed Transactions

    Czech Academy of Sciences Publication Activity Database

    Procházka, M.; Plášil, František

    2002-01-01

    Roč. 3, č. 2 (2002), s. - ISSN 1525-9293 R&D Projects: GA ČR GA201/99/0244; GA AV ČR IAA2030902 Institutional research plan: AV0Z1030915 Keywords : transactions * component-based software architectures * transaction propagation policy * transaction attributes * container -interposed transactions Subject RIV: JC - Computer Hardware ; Software

  17. Enhancing reliable online transaction with intelligent rule-based ...

    African Journals Online (AJOL)

    Enhancing reliable online transaction with intelligent rule-based fraud detection technique. ... These are with a bid to reducing amongst other things the cost of production and also dissuade the poor handling of Nigeria currency. The CBN pronouncement has necessitated the upsurge in transactions completed with credit ...

  18. Governance structures for real estate transactions: Markets ...

    African Journals Online (AJOL)

    networks in the governance of real-estate transactions under three property rights regimes in .... empirical results of case study research exploring the relationship between .... collaboration (Entwistle, Bristow, Hines, Donaldson & Martin, 2007: 63-79). .... self-help group development (City of Windhoek, 2005). Of these,.

  19. An OCP Compliant Network Adapter for GALS-based SoC Design Using the MANGO Network-on-Chip

    DEFF Research Database (Denmark)

    Bjerregaard, Tobias; Mahadevan, Shankar; Olsen, Rasmus Grøndahl

    2005-01-01

    decouples communication and computation, providing memory-mapped OCP transactions based on primitive message-passing services of the network. Also, it facilitates GALS-type systems, by adapting to the clockless network. This helps leverage a modular SoC design flow. We evaluate performance and cost of 0...

  20. Refined analysis results for multimedia network costs and profits

    DEFF Research Database (Denmark)

    Tahkokorpi, M.; Falch, Morten; Skouby, Knud Erik

    This deliverable describes the techno-economic business model developed in EURORIM WP3 and presents the refined results of the multimedia service delivery cost-profit calculations......This deliverable describes the techno-economic business model developed in EURORIM WP3 and presents the refined results of the multimedia service delivery cost-profit calculations...

  1. Audio Teleconferencing: Low Cost Technology for External Studies Networking.

    Science.gov (United States)

    Robertson, Bill

    1987-01-01

    This discussion of the benefits of audio teleconferencing for distance education programs and for business and government applications focuses on the recent experience of Canadian educational users. Four successful operating models and their costs are reviewed, and it is concluded that audio teleconferencing is cost efficient and educationally…

  2. Concurrency Control for Transactional Drago

    OpenAIRE

    Patiño-Martinez, Marta; Jiménez-Peris, Ricardo; Kienzle, Jörg; Arévalo, Sergio

    2002-01-01

    The granularity of concurrency control has a big impact on the performance of transactional systems. Concurrency control granu- larity and data granularity (data size) are usually the same. The e ect of this coupling is that if a coarse granularity is used, the overhead of data access (number of disk accesses) is reduced, but also the degree of concurrency. On the other hand, if a ne granularity is chosen to achieve a higher degree of concurrency (there are less con icts), the cost of data ac...

  3. Improved Cost-Base Design of Water Distribution Networks using Genetic Algorithm

    Science.gov (United States)

    Moradzadeh Azar, Foad; Abghari, Hirad; Taghi Alami, Mohammad; Weijs, Steven

    2010-05-01

    Population growth and progressive extension of urbanization in different places of Iran cause an increasing demand for primary needs. The water, this vital liquid is the most important natural need for human life. Providing this natural need is requires the design and construction of water distribution networks, that incur enormous costs on the country's budget. Any reduction in these costs enable more people from society to access extreme profit least cost. Therefore, investment of Municipal councils need to maximize benefits or minimize expenditures. To achieve this purpose, the engineering design depends on the cost optimization techniques. This paper, presents optimization models based on genetic algorithm(GA) to find out the minimum design cost Mahabad City's (North West, Iran) water distribution network. By designing two models and comparing the resulting costs, the abilities of GA were determined. the GA based model could find optimum pipe diameters to reduce the design costs of network. Results show that the water distribution network design using Genetic Algorithm could lead to reduction of at least 7% in project costs in comparison to the classic model. Keywords: Genetic Algorithm, Optimum Design of Water Distribution Network, Mahabad City, Iran.

  4. Starling flock networks manage uncertainty in consensus at low cost.

    Directory of Open Access Journals (Sweden)

    George F Young

    Full Text Available Flocks of starlings exhibit a remarkable ability to maintain cohesion as a group in highly uncertain environments and with limited, noisy information. Recent work demonstrated that individual starlings within large flocks respond to a fixed number of nearest neighbors, but until now it was not understood why this number is seven. We analyze robustness to uncertainty of consensus in empirical data from multiple starling flocks and show that the flock interaction networks with six or seven neighbors optimize the trade-off between group cohesion and individual effort. We can distinguish these numbers of neighbors from fewer or greater numbers using our systems-theoretic approach to measuring robustness of interaction networks as a function of the network structure, i.e., who is sensing whom. The metric quantifies the disagreement within the network due to disturbances and noise during consensus behavior and can be evaluated over a parameterized family of hypothesized sensing strategies (here the parameter is number of neighbors. We use this approach to further show that for the range of flocks studied the optimal number of neighbors does not depend on the number of birds within a flock; rather, it depends on the shape, notably the thickness, of the flock. The results suggest that robustness to uncertainty may have been a factor in the evolution of flocking for starlings. More generally, our results elucidate the role of the interaction network on uncertainty management in collective behavior, and motivate the application of our approach to other biological networks.

  5. Starling Flock Networks Manage Uncertainty in Consensus at Low Cost

    Science.gov (United States)

    Young, George F.; Scardovi, Luca; Cavagna, Andrea; Giardina, Irene; Leonard, Naomi E.

    2013-01-01

    Flocks of starlings exhibit a remarkable ability to maintain cohesion as a group in highly uncertain environments and with limited, noisy information. Recent work demonstrated that individual starlings within large flocks respond to a fixed number of nearest neighbors, but until now it was not understood why this number is seven. We analyze robustness to uncertainty of consensus in empirical data from multiple starling flocks and show that the flock interaction networks with six or seven neighbors optimize the trade-off between group cohesion and individual effort. We can distinguish these numbers of neighbors from fewer or greater numbers using our systems-theoretic approach to measuring robustness of interaction networks as a function of the network structure, i.e., who is sensing whom. The metric quantifies the disagreement within the network due to disturbances and noise during consensus behavior and can be evaluated over a parameterized family of hypothesized sensing strategies (here the parameter is number of neighbors). We use this approach to further show that for the range of flocks studied the optimal number of neighbors does not depend on the number of birds within a flock; rather, it depends on the shape, notably the thickness, of the flock. The results suggest that robustness to uncertainty may have been a factor in the evolution of flocking for starlings. More generally, our results elucidate the role of the interaction network on uncertainty management in collective behavior, and motivate the application of our approach to other biological networks. PMID:23382667

  6. Optimal financing and dividend control of a corporation with transaction costs%考虑交易费的融资与分红最优控制模型

    Institute of Scientific and Technical Information of China (English)

    张磊

    2004-01-01

    在实际金融市场中股份公司在红利分配和再融资过程中都需要支付固定交易费和比例交易费, 而如何确定交易费对公司财务决策的影响还没有进行过讨论.本文利用随机脉冲控制理论研究了在收取固定和比例交易费的市场环境下,公司如何制定其最优的财务策略.首先给出了最优控制问题对应的Hamilton-Jacobi-Bellman方程,接着构造出了它的连续可微解.利用解的性质和推广的It公式,构造出了最优的再融资及分红策略.最后对模型的应用做了经济学上的解释,并与已有模型做了比较.%In the financial markets corporations have to pay for the fixed and proportional transaction costs when distributing dividends and issuing external equity.But no discussions have been found on the optimal financing and dividends policy influenced by both the fixed and proportional transaction costs.To address this inadequacy,an optimal control problem is discussed using stochastic impulse control theory to determine the optimal policy.First the associated Hamilton-Jacobi-Bellman(HJB) equation is given, then its continuously differentiable solution is constructed.From the solution and generalized It Lemma,the optimal financing and dividends policy is derived.Finally the economic interpretations are presented to illustrate the applications of the results, and comparisons are made with existing literatures.

  7. Banknotes and unattended cash transactions

    Science.gov (United States)

    Bernardini, Ronald R.

    2000-04-01

    There is a 64 billion dollar annual unattended cash transaction business in the US with 10 to 20 million daily transactions. Even small problems with the machine readability of banknotes can quickly become a major problem to the machine manufacturer and consumer. Traditional note designs incorporate overt security features for visual validation by the public. Many of these features such as fine line engraving, microprinting and watermarks are unsuitable as machine readable features in low cost note acceptors. Current machine readable features, mostly covert, were designed and implemented with the central banks in mind. These features are only usable by the banks large, high speed currency sorting and validation equipment. New note designs should consider and provide for low cost not acceptors, implementing features developed for inexpensive sensing technologies. Machine readable features are only as good as their consistency. Quality of security features as well as that of the overall printing process must be maintained to ensure reliable and secure operation of note readers. Variations in printing and of the components used to make the note are one of the major causes of poor performance in low cost note acceptors. The involvement of machine manufacturers in new currency designs will aid note producers in the design of a note that is machine friendly, helping to secure the acceptance of the note by the public as well as acting asa deterrent to fraud.

  8. A case study to estimate costs using Neural Networks and regression based models

    Directory of Open Access Journals (Sweden)

    Nadia Bhuiyan

    2012-07-01

    Full Text Available Bombardier Aerospace’s high performance aircrafts and services set the utmost standard for the Aerospace industry. A case study in collaboration with Bombardier Aerospace is conducted in order to estimate the target cost of a landing gear. More precisely, the study uses both parametric model and neural network models to estimate the cost of main landing gears, a major aircraft commodity. A comparative analysis between the parametric based model and those upon neural networks model will be considered in order to determine the most accurate method to predict the cost of a main landing gear. Several trials are presented for the design and use of the neural network model. The analysis for the case under study shows the flexibility in the design of the neural network model. Furthermore, the performance of the neural network model is deemed superior to the parametric models for this case study.

  9. Least-cost network evaluation of centralized and decentralized contributions to global electrification

    International Nuclear Information System (INIS)

    Levin, Todd; Thomas, Valerie M.

    2012-01-01

    The choice between centralized and decentralized electricity generation is examined for 150 countries as a function of population distribution, electricity consumption, transmission cost, and the cost difference between decentralized and centralized electricity generation. A network algorithm is developed to find the shortest centralized transmission network that spans a given fraction of the population in a country. The least-cost combination of centralized and decentralized electricity that serves the country is determined. Case studies of Botswana, Uganda, and Bangladesh illustrate situations that are more and less suited for decentralized electrification. Specific maps for centralized and decentralized generation are presented to show how the least-cost option varies with the relative costs of centralized and decentralized generation and transmission cost. Centralized and decentralized fractions are calculated for 150 countries. For most of the world's population, centralized electricity is the least-cost option. For a number of countries, particularly in Africa, substantial populations and regions may be most cost-effectively served by decentralized electricity. - Highlights: ► Centralized and decentralized electrification are compared for 150 countries. ► A cost-optimized network algorithm finds the least-cost electrification system. ► Least-cost infrastructures combine centralized and decentralized portions. ► For most people, centralized electricity is cheapest option. ► In much of Africa, decentralized electricity may be cheaper than centralized.

  10. On the Development of Methodology for Planning and Cost-Modeling of a Wide Area Network

    OpenAIRE

    Ahmedi, Basri; Mitrevski, Pece

    2014-01-01

    The most important stages in designing a computer network in a wider geographical area include: definition of requirements, topological description, identification and calculation of relevant parameters (i.e. traffic matrix), determining the shortest path between nodes, quantification of the effect of various levels of technical and technological development of urban areas involved, the cost of technology, and the cost of services. These parameters differ for WAN networks in different regions...

  11. Co-ordination and Lock-in: Competition with Switching Costs and Network Effects

    OpenAIRE

    Joseph Farrell; Paul Klemperer

    2006-01-01

    Switching costs and network effects bind customers to vendors if products are incompatible, locking customers or even markets in to early choices. Lock-in hinders customers from changing suppliers in response to (predictable or unpredictable) changes in effciency, and gives vendors lucrative ex post market power-over the same buyer in the case of switching costs (or brand loyalty), or over others with network effects. Firms compete ex ante for this ex post power, using penetration pricing, in...

  12. Coordination and Lock-In: Competition with Switching Costs and Network Effects

    OpenAIRE

    Farrell, Joseph; Klemperer, Paul

    2006-01-01

    Switching costs and network effects bind customers to vendors if products are incompatible, locking customers or even markets in to early choices. Lock-in hinders customers from changing suppliers in response to (predictable or unpredictable) changes in efficiency, and gives vendors lucrative ex post market power—over the same buyer in the case of switching costs (or brand loyalty), or over others with network effects. Firms compete ex ante for this ex post power, using penetration ...

  13. Testing the Feasibility of a Low-Cost Network Performance Measurement Infrastructure

    Energy Technology Data Exchange (ETDEWEB)

    Chevalier, Scott [Indiana Univ., Bloomington, IN (United States). International Networks; Schopf, Jennifer M. [Indiana Univ., Bloomington, IN (United States). International Networks; Miller, Kenneth [Pennsylvania State Univ., University Park, PA (United States). Telecommunications and Networking Services; Zurawski, Jason [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States). Energy Sciences Network

    2016-07-01

    Todays science collaborations depend on reliable, high performance networks, but monitoring the end-to-end performance of a network can be costly and difficult. The most accurate approaches involve using measurement equipment in many locations, which can be both expensive and difficult to manage due to immobile or complicated assets. The perfSONAR framework facilitates network measurement making management of the tests more reasonable. Traditional deployments have used over-provisioned servers, which can be expensive to deploy and maintain. As scientific network uses proliferate, there is a desire to instrument more facets of a network to better understand trends. This work explores low cost alternatives to assist with network measurement. Benefits include the ability to deploy more resources quickly, and reduced capital and operating expenditures. Finally, we present candidate platforms and a testing scenario that evaluated the relative merits of four types of small form factor equipment to deliver accurate performance measurements.

  14. Guaranteed Cost Fault-Tolerant Control for Networked Control Systems with Sensor Faults

    Directory of Open Access Journals (Sweden)

    Qixin Zhu

    2015-01-01

    Full Text Available For the large scale and complicated structure of networked control systems, time-varying sensor faults could inevitably occur when the system works in a poor environment. Guaranteed cost fault-tolerant controller for the new networked control systems with time-varying sensor faults is designed in this paper. Based on time delay of the network transmission environment, the networked control systems with sensor faults are modeled as a discrete-time system with uncertain parameters. And the model of networked control systems is related to the boundary values of the sensor faults. Moreover, using Lyapunov stability theory and linear matrix inequalities (LMI approach, the guaranteed cost fault-tolerant controller is verified to render such networked control systems asymptotically stable. Finally, simulations are included to demonstrate the theoretical results.

  15. evaluation of total annual costs of heat exchanger networks using

    African Journals Online (AJOL)

    user

    after solving the first problem using RPA based heat integration gave a minimum total annual cost (TAC) of $237, ... mathematical programming and non-RPA based Hint software. ... The concept of pinch analysis evolved over the years.

  16. Cost-Based Vertical Handover Decision Algorithm for WWAN/WLAN Integrated Networks

    Directory of Open Access Journals (Sweden)

    Kim LaeYoung

    2009-01-01

    Full Text Available Abstract Next generation wireless communications are expected to rely on integrated networks consisting of multiple wireless technologies. Heterogeneous networks based on Wireless Local Area Networks (WLANs and Wireless Wide Area Networks (WWANs can combine their respective advantages on coverage and data rates, offering a high Quality of Service (QoS to mobile users. In such environment, multi-interface terminals should seamlessly switch from one network to another in order to obtain improved performance or at least to maintain a continuous wireless connection. Therefore, network selection algorithm is important in providing better performance to the multi-interface terminals in the integrated networks. In this paper, we propose a cost-based vertical handover decision algorithm that triggers the Vertical Handover (VHO based on a cost function for WWAN/WLAN integrated networks. For the cost function, we focus on developing an analytical model of the expected cost of WLAN for the mobile users that enter the double-coverage area while having a connection in the WWAN. Our simulation results show that the proposed scheme achieves better performance in terms of power consumption and throughput than typical approach where WLANs are always preferred whenever the WLAN access is available.

  17. Bulk Electric Load Cost Calculation Methods: Iraqi Network Comparative Study

    Directory of Open Access Journals (Sweden)

    Qais M. Alias

    2016-09-01

    Full Text Available It is vital in any industry to regain the spent capitals plus running costs and a margin of profits for the industry to flourish. The electricity industry is an everyday life touching industry which follows the same finance-economic strategy. Cost allocation is a major issue in all sectors of the electric industry, viz, generation, transmission and distribution. Generation and distribution service costing’s well documented in the literature, while the transmission share is still of need for research. In this work, the cost of supplying a bulk electric load connected to the EHV system is calculated. A sample basic lump-average method is used to provide a rough costing guide. Also, two transmission pricing methods are employed, namely, the postage-stamp and the load-flow based MW-distance methods to calculate transmission share in the total cost of each individual bulk load. The three costing methods results are then analyzed and compared for the 400kV Iraqi power grid considered for a case study.

  18. Strategy on energy saving reconstruction of distribution networks based on life cycle cost

    Science.gov (United States)

    Chen, Xiaofei; Qiu, Zejing; Xu, Zhaoyang; Xiao, Chupeng

    2017-08-01

    Because the actual distribution network reconstruction project funds are often limited, the cost-benefit model and the decision-making method are crucial for distribution network energy saving reconstruction project. From the perspective of life cycle cost (LCC), firstly the research life cycle is determined for the energy saving reconstruction of distribution networks with multi-devices. Then, a new life cycle cost-benefit model for energy-saving reconstruction of distribution network is developed, in which the modification schemes include distribution transformers replacement, lines replacement and reactive power compensation. In the operation loss cost and maintenance cost area, the operation cost model considering the influence of load season characteristics and the maintenance cost segmental model of transformers are proposed. Finally, aiming at the highest energy saving profit per LCC, a decision-making method is developed while considering financial and technical constraints as well. The model and method are applied to a real distribution network reconstruction, and the results prove that the model and method are effective.

  19. Accounting for Energy Cost When Designing Energy-Efficient Wireless Access Networks

    Directory of Open Access Journals (Sweden)

    Greta Vallero

    2018-03-01

    Full Text Available Because of the increase of the data traffic demand, wireless access networks, through which users access telecommunication services, have expanded, in terms of size and of capability and, consequently, in terms of power consumption. Therefore, costs to buy the necessary power for the supply of base stations of those networks is becoming very high, impacting the communication cost. In this study, strategies to reduce the amount of money spent for the purchase of the energy consumed by the base stations are proposed for a network powered by solar panels, energy batteries and the power grid. First, the variability of the energy prices is exploited. It provides a cost reduction of up to 30%, when energy is bought in advance. If a part of the base stations is deactivated when the energy price is higher than a given threshold, a compromise between the energy cost and the user coverage drop is needed. In the simulated scenario, the necessary energy cost can be reduced by more than 40%, preserving the user coverage by greater than 94%. Second, the network is introduced to the energy market: it buys and sells energy from/to the traditional power grid. Finally, costs are reduced by the reduction of power consumption of the network, achieved by using microcell base stations. In the considered scenario, up to a 31% cost reduction is obtained, without the deterioration of the quality of service, but a huge Capex expenditure is required.

  20. Distributed Energy Systems Integration and Demand Optimization for Autonomous Operations and Electric Grid Transactions

    Energy Technology Data Exchange (ETDEWEB)

    Ghatikar, Girish [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Greenlots, San Francisco, CA (United States); Mashayekh, Salman [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Stadler, Michael [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Center for Energy and Innovation Technologies (Austria); Yin, Rongxin [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Liu, Zhenhua [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2015-11-29

    Distributed power systems in the U.S. and globally are evolving to provide reliable and clean energy to consumers. In California, existing regulations require significant increases in renewable generation, as well as identification of customer-side distributed energy resources (DER) controls, communication technologies, and standards for interconnection with the electric grid systems. As DER deployment expands, customer-side DER control and optimization will be critical for system flexibility and demand response (DR) participation, which improves the economic viability of DER systems. Current DER systems integration and communication challenges include leveraging the existing DER and DR technology and systems infrastructure, and enabling optimized cost, energy and carbon choices for customers to deploy interoperable grid transactions and renewable energy systems at scale. Our paper presents a cost-effective solution to these challenges by exploring communication technologies and information models for DER system integration and interoperability. This system uses open standards and optimization models for resource planning based on dynamic-pricing notifications and autonomous operations within various domains of the smart grid energy system. It identifies architectures and customer engagement strategies in dynamic DR pricing transactions to generate feedback information models for load flexibility, load profiles, and participation schedules. The models are tested at a real site in California—Fort Hunter Liggett (FHL). Furthermore, our results for FHL show that the model fits within the existing and new DR business models and networked systems for transactive energy concepts. Integrated energy systems, communication networks, and modeling tools that coordinate supply-side networks and DER will enable electric grid system operators to use DER for grid transactions in an integrated system.

  1. Improving the delivery of veterinary services in Africa: insights from the empirical application of transaction costs theory in Uganda and Kenya.

    Science.gov (United States)

    Ilukor, J

    2017-04-01

    This paper presents a summary of findings from a research project that examined institutional arrangements for providing animal health services in Uganda and Kenya. Given the need to find solutions to the pervasive governance challenges encountered in the delivery of veterinary services in Africa, the study applied transaction economics theory to generate recommendations on how to improve the delivery of these services and minimise livestock production risks, including those that pose a risk to human health, e.g. zoonoses. The most notable recommendations are as follows: i) lower- and middle-income countries should invest in creating an enabling environment that supports the relationship between professional veterinarians and para-professionals, to ensure the timely reporting, treatment and control of animal diseases; ii) the provision of veterinary extension services should not focus solely on household 'heads', but also on other household members, such as wives and children, and on herdsmen; iii) strong government engagement is required in the provision of veterinary services for pastoral or extensive livestock production systems, because normal market forces have failed to attract professional veterinarians and trained para-professionals from the private sector to work in these sectors; iv) farmers must be empowered to hold service providers accountable, by the development and trialling of tools that would enable them to measure the quality of services that they receive and to verify the qualifications of different service providers; v) investment in veterinary education is vital, to ensure that enough qualified veterinary staff are available to offer veterinary services to farmers.

  2. COST network genderSTE: Networking Gender Equality in Research and Innovation in Europe and beyond

    Directory of Open Access Journals (Sweden)

    Inés Sánchez de Madariaga

    2013-06-01

    Full Text Available Gender is one of five priorities of the European Research Area, as stated in the Communication adopted in July 2012 entitled A Reinforced European Research Area Partnership for Excellence and Growth (EC 2012c. Following this Communication, the EC has fully integrated gender dimensions in its proposal for a regulation on the new research framework program Horizon 2020¸ which includes in article 15 a provision for gender mainstreaming (EC 2011b. One final upcoming policy instrument announced by the EC is the Recommendation on Gender, Science and Innovation that will address member states and be adopted in the next months. Against this European policy background , the international COST network genderSTE (Gender, Science, Technology and Environment aims at enhancing a better integration of gender dimensions in science and technology at three main levels: i promoting women’s careers in science and technology through structural change of institutions (as recommended by EC by disseminating existing research and practice; ii promoting a better integration of gender in the content of science, research and technology, by dissemination existing research on the topic, ie the UE-US Gendered Innovations Project; iii identifying gender dimensions relevant to environment-related Horizon2020 Grand Challenges and other urban EC initiatives.  

  3. Costs of Residential Solar PV Plants in Distribution Grid Networks

    DEFF Research Database (Denmark)

    Kjær, Søren Bækhøj; Yang, Guangya; Ipsen, Hans Henrik

    2015-01-01

    In this article we investigate the impact of residential solar PV plants on energy losses in distribution networks and their impact on distribution transformers lifetime. Current guidelines in Denmark states that distribution transformers should not be loaded with more than 67% solar PV power...

  4. Low cost drip irrigation in Burkina Faso : unravelling actors, networks and practices

    NARCIS (Netherlands)

    Wanvoeke, M.J.V.

    2015-01-01

    Title: Low cost drip irrigation in Burkina Faso: Unravelling Actors, Networks and Practices

    In Burkina Faso, there is a lot of enthusiasm about Low Cost Drip Irrigation (LCDI) as a tool to irrigate vegetables, and thus improve food security,

  5. Modelling the Cost Performance of a Given Logistics Network Operating Under Regular and Irregular Conditions

    NARCIS (Netherlands)

    Janic, M.

    2009-01-01

    This paper develops an analytical model for the assessment of the cost performance of a given logistics network operating under regular and irregular (disruptive) conditions. In addition, the paper aims to carry out a sensitivity analysis of this cost with respect to changes of the most influencing

  6. Evaluating C-RAN Fronthaul Functional Splits in Terms of Network Level Energy and Cost Savings

    DEFF Research Database (Denmark)

    Checko, Aleksandra; Popovska Avramova, Andrijana; Berger, Michael Stübert

    2016-01-01

    The placement of the complete baseband processing in a centralized pool results in high data rate requirement and inflexibility of the fronthaul network, which challenges the energy and cost effectiveness of the cloud radio access network (C-RAN). Recently, redesign of the C-RAN through functional...... split in the baseband processing chain has been proposed to overcome these challenges. This paper evaluates, by mathematical and simulation methods, different splits with respect to network level energy and cost efficiency having in the mind the expected quality of service.The proposed mathematical...... model quantifies the multiplexing gains and the trade-offs between centralization and decentralization concerning the cost of the pool, fronthaul network capacity and resource utilization. The event-based simulation captures the influence of the traffic load dynamics and traffic type variation...

  7. Stochastic project networks temporal analysis, scheduling and cost minimization

    CERN Document Server

    Neumann, Klaus

    1990-01-01

    Project planning, scheduling, and control are regularly used in business and the service sector of an economy to accomplish outcomes with limited resources under critical time constraints. To aid in solving these problems, network-based planning methods have been developed that now exist in a wide variety of forms, cf. Elmaghraby (1977) and Moder et al. (1983). The so-called "classical" project networks, which are used in the network techniques CPM and PERT and which represent acyclic weighted directed graphs, are able to describe only projects whose evolution in time is uniquely specified in advance. Here every event of the project is realized exactly once during a single project execution and it is not possible to return to activities previously carried out (that is, no feedback is permitted). Many practical projects, however, do not meet those conditions. Consider, for example, a production process where some parts produced by a machine may be poorly manufactured. If an inspection shows that a part does no...

  8. Computational cost for detecting inspiralling binaries using a network of laser interferometric detectors

    International Nuclear Information System (INIS)

    Pai, Archana; Bose, Sukanta; Dhurandhar, Sanjeev

    2002-01-01

    We extend a coherent network data-analysis strategy developed earlier for detecting Newtonian waveforms to the case of post-Newtonian (PN) waveforms. Since the PN waveform depends on the individual masses of the inspiralling binary, the parameter-space dimension increases by one from that of the Newtonian case. We obtain the number of templates and estimate the computational costs for PN waveforms: for a lower mass limit of 1M o-dot , for LIGO-I noise and with 3% maximum mismatch, the online computational speed requirement for single detector is a few Gflops; for a two-detector network it is hundreds of Gflops and for a three-detector network it is tens of Tflops. Apart from idealistic networks, we obtain results for realistic networks comprising of LIGO and VIRGO. Finally, we compare costs incurred in a coincidence detection strategy with those incurred in the coherent strategy detailed above

  9. Low-cost airlines in Europe: Network structures after the enlargement of the European Union

    Directory of Open Access Journals (Sweden)

    Dudas Gabor

    2010-01-01

    Full Text Available The liberalization of the European air opened the strictly regulated European market, and contributed to the appearance and quick spread of the Low-Cost Carriers (LCCs. At the beginning of the 21st century the low cost traffic absolutely concentrated on the Western European market but after the enlargement of the European Union (EU LCCs started their operations in Eastern Europe enlarging and enriching the former evolved network structures. The aim of this paper is to trace the evolution of the route network as a result of EU expansion. During the study we came to the conclusion that in the time period after the EU enlargement the European LCC traffic showed dynamic development, route networks widened and the number of accessible destinations doubled. Comparing the LCCs network structures we defined three main characteristics, which represents the North-South flows, the West-East routes and the mixed network structure.

  10. Computational cost for detecting inspiralling binaries using a network of laser interferometric detectors

    CERN Document Server

    Pai, A; Dhurandhar, S V

    2002-01-01

    We extend a coherent network data-analysis strategy developed earlier for detecting Newtonian waveforms to the case of post-Newtonian (PN) waveforms. Since the PN waveform depends on the individual masses of the inspiralling binary, the parameter-space dimension increases by one from that of the Newtonian case. We obtain the number of templates and estimate the computational costs for PN waveforms: for a lower mass limit of 1M sub o sub - sub d sub o sub t , for LIGO-I noise and with 3% maximum mismatch, the online computational speed requirement for single detector is a few Gflops; for a two-detector network it is hundreds of Gflops and for a three-detector network it is tens of Tflops. Apart from idealistic networks, we obtain results for realistic networks comprising of LIGO and VIRGO. Finally, we compare costs incurred in a coincidence detection strategy with those incurred in the coherent strategy detailed above.

  11. Transactional Mechanism of Territorial Administration: Conceptualisation and Systematization of Elements

    Directory of Open Access Journals (Sweden)

    Elena Аleksandrovna Petrova

    2016-12-01

    Full Text Available The concept of transaction expenses developed by R. Coase allows to consider functioning of economy and its agents from the information viewpoint. This viewpoint implies that information exchange between agents and the urge to overcome information incompleteness start playing the crucial role. Transaction expenses are information exchange costs for the purpose of elimination (reduction of its incompleteness and the related uncertainty. R. Coase showed that creation and the size of firms are closely connected with the urge to minimize transaction expenses. Traditionally transaction expenses are associated with functioning of firms, however, the state actively participates in economy, for example, through formation of tax policy. Besides, financing of the public benefits takes place on the basis of collective decisions. But collective character of the decision causes interest, though smaller in comparison with the private choice, in the maximum efficiency of the decision. It is ensured by two factors: firstly, the position of an individual is not of great importance at collective decision-making; secondly, an individual is responsible for a small part of benefits and expenses which are formed in the course of decision implementation. The article deals with the concept of transaction costs, and systematically occurring types of transaction costs in the following groups: search information costы, the cost of negotiating, measuring costs, the costs of specification and protection of property rights, the costs of opportunistic behavior, the cost of “politicizing”, the costs of collective decisionmaking, influence costs. The authors propose a model of transaction mechanism of territorial administration, which includes the following elements: economic entities; a goal determined by system of indicators; methods; instruments; channels; forms of target use; landmark feedback on the system; subject to the experience stage of modernization; criteria

  12. Low-cost Augmented Reality prototype for controlling network devices

    OpenAIRE

    Nguyen, Anh; Banic, Amy

    2014-01-01

    With the evolution of mobile devices, and smart-phones in particular, comes the ability to create new experiences that enhance the way we see, interact, and manipulate objects, within the world that surrounds us. It is now possible to blend data from our senses and our devices in numerous ways that simply were not possible before using Augmented Reality technology. In a near future, when all of the office devices as well as your personal electronic gadgets are on a common wireless network, op...

  13. Narrow Networks On The Health Insurance Marketplaces: Prevalence, Pricing, And The Cost Of Network Breadth.

    Science.gov (United States)

    Dafny, Leemore S; Hendel, Igal; Marone, Victoria; Ody, Christopher

    2017-09-01

    Anecdotal reports and systematic research highlight the prevalence of narrow-network plans on the Affordable Care Act's health insurance Marketplaces. At the same time, Marketplace premiums in the period 2014-16 were much lower than projected by the Congressional Budget Office in 2009. Using detailed data on the breadth of both hospital and physician networks, we studied the prevalence of narrow networks and quantified the association between network breadth and premiums. Controlling for many potentially confounding factors, we found that a plan with narrow physician and hospital networks was 16 percent cheaper than a plan with broad networks for both, and that narrowing the breadth of just one type of network was associated with a 6-9 percent decrease in premiums. Narrow-network plans also have a sizable impact on federal outlays, as they depress the premium of the second-lowest-price silver plan, to which subsidy amounts are linked. Holding all else constant, we estimate that federal subsidies would have been 10.8 percent higher in 2014 had Marketplaces required all plans to offer broad provider networks. Narrow networks are a promising source of potential savings for other segments of the commercial insurance market. Project HOPE—The People-to-People Health Foundation, Inc.

  14. Transactive control: a framework for operating power systems characterized by high penetration of distributed energy resources

    DEFF Research Database (Denmark)

    Hu, Junjie; Yang, Guangya; Kok, Koen

    2016-01-01

    The increasing number of distributed energy resources connected to power systems raises operational challenges for the network operator, such as introducing grid congestion and voltage deviations in the distribution network level, as well as increasing balancing needs at the whole system level......, followed by a literature review and demonstration projects that apply to transactive control. Cases are then presented to illustrate the transactive control framework. At the end, discussions and research directions are presented, for applying transactive control to operating power systems, characterized...

  15. Marginal Congestion Cost on a Dynamic Expressway Network

    DEFF Research Database (Denmark)

    Fosgerau, Mogens; Small, Kenneth A.

    2012-01-01

    a dynamic econometric model using unusually complete and accurate data from Danish motorways. We use the results to estimate the marginal external cost of adding a vehicle to a link's entry flow, finding it is highly influenced by the dynamic properties of the system of relationships between travel times......We formulate an empirical model of congestion for a series of sequential expressway links where queues may form and spill back. Its purpose is to disentangle the dynamic effect that a marginal vehicle has on the distribution of travel times experienced there and on connected links. We estimate...

  16. Smart control for minimizing distribution network reinforcement cost due to electrification

    International Nuclear Information System (INIS)

    Pudjianto, Danny; Djapic, Predrag; Aunedi, Marko; Gan, Chin Kim; Strbac, Goran; Huang, Sikai; Infield, David

    2013-01-01

    Electrification of transport fleets and heating sectors is seen as one of the key strategies to further reduce the use of fossil fuels and the resulting greenhouse gas emissions. However, it will potentially cause a significant increase of electricity peak demand and have adverse consequences on the electricity system, in particular on distribution networks. This paper will address the benefits of various applications of smart network control and demand response technologies for enhancing the integration of these future load categories, and for improvements in operation management and efficient use of distribution network assets. A range of numerical simulations have been carried out on different distribution network topologies (rural and urban networks) to identify the need and the cost of network reinforcement required to accommodate future load under various operating strategies such as Business as Usual (passive demand and passive network) against the smart grid approach. Applications of smart Plug-in vehicle (PiV) charging, smart heat pumps, and optimised control of network voltage regulators to reduce network investment have been studied, and selected key results of our studies on evaluating the benefits of implementing these technologies for Great Britain's distribution networks are presented and discussed in this paper. - Highlights: ► Growth of electricity loads driven by electrification of transport and heat will be significant. ► It will increase the electricity peak demand up to 2–3 times and cost tens of billion pounds if we maintain Business as Usual approach. ► A coordinated application of smart demand technologies can significantly reduce this cost. ► It requires sets of policies and regulations to facilitate timely deployment of such technologies.

  17. Costing the lifecycle of networked learning: documenting the costs from conception to evaluation

    Directory of Open Access Journals (Sweden)

    Paul Bacsich

    2000-12-01

    Full Text Available Analysing the costs of new learning technologies within the educational sector is currently a neglected area, yet the issue of how to spend money effectively in this context is a question that must be answered. This question is made especially pertinent with the current expansion of information technology into higher and further education. To know the costeffectiveness of these initiatives, it is first necessary to gain some comprehension of the costs involved. This must be done in a way that is comprehensible to everyone in academia. A recently completed research study undertaken by the authors addressed these problems.

  18. Energy Cost Minimization in Heterogeneous Cellular Networks with Hybrid Energy Supplies

    Directory of Open Access Journals (Sweden)

    Bang Wang

    2016-01-01

    Full Text Available The ever increasing data demand has led to the significant increase of energy consumption in cellular mobile networks. Recent advancements in heterogeneous cellular networks and green energy supplied base stations provide promising solutions for cellular communications industry. In this article, we first review the motivations and challenges as well as approaches to address the energy cost minimization problem for such green heterogeneous networks. Owing to the diversities of mobile traffic and renewable energy, the energy cost minimization problem involves both temporal and spatial optimization of resource allocation. We next present a new solution to illustrate how to combine the optimization of the temporal green energy allocation and spatial mobile traffic distribution. The whole optimization problem is decomposed into four subproblems, and correspondingly our proposed solution is divided into four parts: energy consumption estimation, green energy allocation, user association, and green energy reallocation. Simulation results demonstrate that our proposed algorithm can significantly reduce the total energy cost.

  19. A transaction assessment method for allocation of transmission services

    Science.gov (United States)

    Banunarayanan, Venkatasubramaniam

    The purpose of this research is to develop transaction assessment methods for allocating transmission services that are provided by an area/utility to power transactions. Transmission services are the services needed to deliver, or provide the capacity to deliver, real and reactive power from one or more supply points to one or more delivery points. As the number of transactions increase rapidly in the emerging deregulated environment, accurate quantification of the transmission services an area/utility provides to accommodate a transaction is becoming important, because then appropriate pricing schemes can be developed to compensate for the parties that provide these services. The Allocation methods developed are based on the "Fair Resource Allocation Principle" and they determine for each transaction the following: the flowpath of the transaction (both real and reactive power components), generator reactive power support from each area/utility, real power loss support from each area/utility. Further, allocation methods for distributing the cost of relieving congestion on transmission lines caused by transactions are also developed. The main feature of the proposed methods is representation of actual usage of the transmission services by the transactions. The proposed method is tested extensively on a variety of systems. The allocation methods developed in this thesis for allocation of transmission services to transactions is not only useful in studying the impact of transactions on a transmission system in a multi-transaction case, but they are indeed necessary to meet the criteria set forth by FERC with regard to pricing based on actual usage. The "consistency" of the proposed allocation methods has also been investigated and tested.

  20. Transacted Memory for Smart Cards

    NARCIS (Netherlands)

    Hartel, Pieter H.; Butler, Michael J.; de Jong, Eduard; Longley, Mark; Olivieira, J.N.; Zave, P.

    A transacted memory that is implemented using EEPROM technology offers persistence, undoability and auditing. The transacted memory system is formally specified in Z, and refined in two steps to a prototype C implementation / SPIN model. Conclusions are offered both on the transacted memory system

  1. Dynamic network tariffs: are they the most efficient way to match peak consumption and network incremental costs?

    OpenAIRE

    João Tomé Saraiva; Guido Pires; João Filipe Nunes; José Nuno Fidalgo; Rui Barbosa Pinto

    2016-01-01

    The purpose of this paper is to present the main results of the ongoing analysis of applying dynamic network access tariffs in Portugal. For the 2015-2017 regulatory period, the Portuguese National Regulatory Authority, ERSE, required the three main Portuguese DSOs to submit, until the end of June 2016, plans for the implementation of network dynamic tariff schemes targeting Medium, High and Extra High Voltage customers, as well as the respective cost-benefit analysis. EDP Distribuição, the m...

  2. Ring Confidential Transactions

    Directory of Open Access Journals (Sweden)

    Shen Noether

    2016-12-01

    Full Text Available This article introduces a method of hiding transaction amounts in the strongly decentralized anonymous cryptocurrency Monero. Similar to Bitcoin, Monero is a cryptocurrency which is distributed through a proof-of-work “mining” process having no central party or trusted setup. The original Monero protocol was based on CryptoNote, which uses ring signatures and one-time keys to hide the destination and origin of transactions. Recently the technique of using a commitment scheme to hide the amount of a transaction has been discussed and implemented by Bitcoin Core developer Gregory Maxwell. In this article, a new type of ring signature, A Multilayered Linkable Spontaneous Anonymous Group signature is described which allows one to include a Pedersen Commitment in a ring signature. This construction results in a digital currency with hidden amounts, origins and destinations of transactions with reasonable efficiency and verifiable, trustless coin generation. The author would like to note that early drafts of this were publicized in the Monero Community and on the #bitcoin-wizards IRC channel. Blockchain hashed drafts are available showing that this work was started in Summer 2015, and completed in early October 2015. An eprint is also available at http://eprint.iacr.org/2015/1098.

  3. Costs and clinical outcomes in individuals without known coronary artery disease undergoing coronary computed tomographic angiography from an analysis of Medicare category III transaction codes.

    Science.gov (United States)

    Min, James K; Shaw, Leslee J; Berman, Daniel S; Gilmore, Amanda; Kang, Ning

    2008-09-15

    Multidetector coronary computed tomographic angiography (CCTA) demonstrates high accuracy for the detection and exclusion of coronary artery disease (CAD) and predicts adverse prognosis. To date, opportunity costs relating the clinical and economic outcomes of CCTA compared with other methods of diagnosing CAD, such as myocardial perfusion single-photon emission computed tomography (SPECT), remain unknown. An observational, multicenter, patient-level analysis of patients without known CAD who underwent CCTA or SPECT was performed. Patients who underwent CCTA (n = 1,938) were matched to those who underwent SPECT (n = 7,752) on 8 demographic and clinical characteristics and 2 summary measures of cardiac medications and co-morbidities and were evaluated for 9-month expenditures and clinical outcomes. Adjusted total health care and CAD expenditures were 27% (p cost-efficient alternative to SPECT for the initial coronary evaluation of patients without known CAD.

  4. Impact and Cost Evaluation of Electric Vehicle Integration on Medium Voltage Distribution Networks

    DEFF Research Database (Denmark)

    Wu, Qiuwei; Cheng, Lin; Pineau, Ulysse

    2013-01-01

    This paper presents the analysis of the impact of electric vehicle (EV) integration on medium voltage (MV) distribution networks and the cost evaluation of replacing the overloaded grid components. A number of EV charging scenarios have been studied. A 10 kV grid from the Bornholm Island...... in the city area has been used to carry out case studies. The case study results show that the secondary transformers are the bottleneck of the MV distribution networks and the increase of EV penetration leads to the overloading of secondary transformers. The cost of the transformer replacement has been...

  5. Staffing an Academic Reference Desk with Librarians is not Cost-effective. A Review of: Ryan, Susan M. “Reference Transactions Analysis: The Cost-effectiveness of Staffing a Traditional Academic Reference Desk.” Journal of Academic Librarianship 34.5 (2008: 389-99.

    Directory of Open Access Journals (Sweden)

    Cari Merkley

    2009-06-01

    Full Text Available Objective – To determine whether it is cost effective to staff an academic reference desk with librarians through an examination of the types of reference questions being asked and the qualifications required to answer them.Design – Content analysis of reference transaction logs and activity-based costing for reference services based on quantitative data derived from the logs.Setting – Stetson University, a private institution in the United States with an FTE of approximately 2500.Subjects – 6959 phone, email, and in-person reference transactions logged at the reference desk by four full-time and two part-time librarians.Methods – This study repurposes data originally collected to determine the frequency with which librarians turned to online versus print sources when responding to questions at the reference desk. Librarians working at the Stetson University library reference desk recorded all reference queries received in person, by phone, or by email for a total of eight months between 2002 and 2006. Data collection took place in two month intervals in fall 2002, spring 2003, spring 2006, and fall 2006. Each question and the sources used to address it were logged by the librarian. Directional questions that were not related to the library’s collections and technical questions dealing with printer or copier mechanical problems were counted, but the specifics of these questions were not recorded. It was felt that these queries would not yield data relevant to the original research question on sources used as they “did not directly relate to an information need” (391. A total of 6959 questions were logged by librarians during the four collection periods. Questions were recorded for only 4431 transactions; the remaining 2528 queries related to printer/copier problems or non-library specific directions and were described as “direction and machine: non- informational” (394. The 4431 recorded questions were then divided into four

  6. Appling a Novel Cost Function to Hopfield Neural Network for Defects Boundaries Detection of Wood Image

    Directory of Open Access Journals (Sweden)

    Qi Dawei

    2010-01-01

    Full Text Available A modified Hopfield neural network with a novel cost function was presented for detecting wood defects boundary in the image. Different from traditional methods, the boundary detection problem in this paper was formulated as an optimization process that sought the boundary points to minimize a cost function. An initial boundary was estimated by Canny algorithm first. The pixel gray value was described as a neuron state of Hopfield neural network. The state updated till the cost function touches the minimum value. The designed cost function ensured that few neurons were activated except the neurons corresponding to actual boundary points and ensured that the activated neurons are positioned in the points which had greatest change in gray value. The tools of Matlab were used to implement the experiment. The results show that the noises of the image are effectively removed, and our method obtains more noiseless and vivid boundary than those of the traditional methods.

  7. Cost Minimization Model of Gas Transmission Line for Indonesian SIJ Pipeline Network

    Directory of Open Access Journals (Sweden)

    Septoratno Siregar

    2003-05-01

    Full Text Available Optimization of Indonesian SIJ gas pipeline network is being discussed here. Optimum pipe diameters together with the corresponding pressure distribution are obtained from minimization of total cost function consisting of investment and operating costs and subjects to some physical (Panhandle A and Panhandle B equations constraints. Iteration technique based on Generalized Steepest-Descent and fourth order Runge-Kutta method are used here. The resulting diameters from this continuous optimization are then rounded to the closest available discrete sizes. We have also calculated toll fee along each segment and safety factor of the network by determining the pipe wall thickness, using ANSI B31.8 standard. Sensitivity analysis of toll fee for variation of flow rates is shown here. The result will gives the diameter and compressor size and compressor location that feasible to use for the SIJ pipeline project. The Result also indicates that the east route cost relatively less expensive than the west cost.

  8. Probabilistic costing of transmission services

    International Nuclear Information System (INIS)

    Wijayatunga, P.D.C.

    1992-01-01

    Costing of transmission services of electrical utilities is required for transactions involving the transport of energy over a power network. The calculation of these costs based on Short Run Marginal Costing (SRMC) is preferred over other methods proposed in the literature due to its economic efficiency. In the research work discussed here, the concept of probabilistic costing of use-of-system based on SRMC which emerges as a consequence of the uncertainties in a power system is introduced using two different approaches. The first approach, based on the Monte Carlo method, generates a large number of possible system states by simulating random variables in the system using pseudo random number generators. A second approach to probabilistic use-of-system costing is proposed based on numerical convolution and multi-area representation of the transmission network. (UK)

  9. Study of the full-service and low-cost carriers network configuration

    Directory of Open Access Journals (Sweden)

    Oriol Lordan

    2014-10-01

    Full Text Available Purpose: The network strategies used by airline carriers have been a recurring subject in air transport research. The aim of this paper is to investigate the relationship between the different operational characteristics of the airline and its route network configuration. Design/methodology/approach: The two main airline carrier typologies - Full-Service and Low-Cost carriers – are analysed using empirical models developed on complex network research relating them to the business model of the airlines. Findings and Originality/value: Just in Europe, one can differentiate between Full-Service and Low-Cost Carriers by complex network analyses. In this process, it has been also found that new concept Low-Cost Carriers, such as Vueling, have network properties closer to Full-Service Carriers. Research limitations/implications: This paper has a limited sample, as includes 26 airline case studies from Europe, United States and Asia. Practical implications: The analysis carried out in this research can help to the assessment of the evolution of the strategies of airline carriers, and has also operational implications, since the configuration of an airline route network can determine its resilience to attacks and errors. Social implications: A better understanding of the properties of airline route networks can benefit airlines, passengers and another stakeholders of the air transport industry. Originality/value: Current research on air transport networks has only considered the global or regional level, but few studies have addressed the study of airline transport networks, and its relationship with their business model.

  10. Cost Effective Instrumentation for Developing Autonomous Groundwater Monitoring Networks

    Science.gov (United States)

    Viti, T. M.; Garmire, D. G.

    2017-12-01

    Despite a relatively poor understanding of Hawaiian groundwater systems, the State of Hawaii depends almost exclusively on groundwater for its public water supply. Ike Wai, an NSF funded project (EPSCoR Program Award OIA #1557349) at the University of Hawaii, aims to develop new groundwater models for Hawaii's aquifers, including water quality and transport processes. To better understand aquifer properties such as capacity and hydraulic conductivity, we are developing well-monitoring instruments that can autonomously record water parameters such as conductivity, temperature, and hydraulic head level, with sampling frequencies on the order of minutes. We are currently exploring novel methods and materials for solving classical design problems, such as applying dielectric spectroscopy techniques for measuring salinity, and using recycled materials for producing custom cable assemblies. System components are fabricated in house using rapid prototyping (e.g. 3D printing, circuit board milling, and laser cutting), and traditional manufacturing techniques. This approach allows us to produce custom components while minimizing development cost, and maximizing flexibility in the overall system's design.

  11. Costs associated with wheeling

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

    Wheeling costs are incurred by all companies that experience a change in power flows over their transmission lines during a specific transaction, whether or not the lines of that company are part of the contract path. The costs of providing wheeling service differ from one system to another and from one kind of wheeling transaction to another. While most transactions may be completed using existing capacity, others may require an increase in line. Depending on the situation, some cost components may be high, low, negative, or not incurred at all. This article discusses two general categories of costs; transactional and capital. The former are all operation, maintenance and opportunity costs incurred in completing a specific transaction assuming the existence of adequate capacity. Capital costs are the costs of major new equipment purchases and lines necessary to provide any increased level of transmission services

  12. The strategic capability of Asian network airlines to compete with low-cost carriers

    OpenAIRE

    Pearson, James; O'Connell, John F.; Pitfield, David; Ryley, Tim

    2015-01-01

    Never before have network airlines been so exposed and vulnerable to low-cost carriers (LCCs). While LCCs had 26.3% of all world seats in 2013, Southeast Asia had 57.7% and South Asia 58.4% – and these figures will only increase. There are many consequences of LCCs on network airlines, including inadequately meeting the expectations of customers, so increasing dissatisfaction, and not offering sufficient value-for-money. Clearly, it is fundamentally important for Asian network airlines to res...

  13. Protecting Online Transactions with Unique Embedded Key Generators

    DEFF Research Database (Denmark)

    Boesgaard, Martin; Zenner, Erik

    2007-01-01

    We present a novel approach for protecting transactions over networks. While we use the example of a netbank application, the proposal is relevant for many security-critical transactions. The approach is based on two major changes compared to current solutions. The first one is the use...... difficult. In combination, these techniques allow to build a secure channel between the client program and the server, while current solutions only build such a channel between the client computer and the server....

  14. Blockchain Transaction Analysis Using Dominant Sets

    OpenAIRE

    Awan , Malik ,; Cortesi , Agostino

    2017-01-01

    Part 4: Engineering of Enterprise Software Products; International audience; Blockchain is an emerging backbone technology behind different crypto-currencies. It can also be used for other purposes and areas. There are different scalability issues associated with blockchain. It is important to know the in depth structure of blockchain by identifying common behaviors of the transactions and the effect of these behaviors on the nodes of the network. Dominant set approach can categorize the bloc...

  15. Medium-term load forecasting and wholesale transaction profitability

    International Nuclear Information System (INIS)

    Selker, F.K.; Wroblewski, W.R.

    1996-01-01

    The volume of wholesale transactions quoted at firm prices is increasing. The cost, and thus profitability, of serving these contracts strongly depends upon native load during the time of delivery. However, transactions extend beyond load forecasts based on weather information, and long-term resource planning forecasts of load peaks and energy provide inadequate detail. To address this need, Decision Focus Inc. (DFI) and Commonwealth Edison (ComEd) developed a probabilistic, medium-term load forecasting capability. In this paper the authors use a hypothetical utility to explore the impact of uncertain medium-term loads on transaction profitability

  16. Perceptions of mobile network operators regarding the cost drivers of the South African mobile phone industry

    Directory of Open Access Journals (Sweden)

    Musenga F. Mpwanya

    2016-11-01

    Implications: The findings of this study should assist MNOs in their monitoring of cost drivers and in the identification of cost reduction opportunities, in order to remain effective and efficient in the industry. This study’s findings should help regulating authorities (such as the Department of Communications and the Independent Communication Authority of South Africa [ICASA] to gain insights into the cost drivers of the South African mobile phone industry from the perspective of a network operator, and thus to develop appropriate mobile phone policies.

  17. Model for cost economic analysis in the maintenance of distribution networks

    International Nuclear Information System (INIS)

    Flores, N.; Leite, O.C.; Abe, R.Y.; Violante, R.A.

    1989-01-01

    A methodology for evaluating the costs from aerial distribution networks maintenance is described, aiming give a tool for the planning decisions, with the purpose to keeping the system operating in equilibrium conditions between the resources invested on the preventive and corrective maintenance. (C.G.C.)

  18. Network cost in transmission and distribution of electric power; Naetkostnader i oeverfoering och distribution av el

    Energy Technology Data Exchange (ETDEWEB)

    Lindahl, A; Naeslund, B; Oettinger-Biberg, C; Olander, H; Wuolikainen, T; Fritz, P

    1994-12-31

    This report is divided in two parts, where part 1 treats the charges on the regional nets with special emphasis on the net owners tariffs on a deregulated market. Part 2 describes the development of the network costs in electric power distribution for the period 1991-1993. 11 figs, 33 tabs

  19. Monitoring groundwater: optimising networks to take account of cost effectiveness, legal requirements and enforcement realities

    Science.gov (United States)

    Allan, A.; Spray, C.

    2013-12-01

    regulator to ensure compliance with legal standards. On the other hand, it can be ruinously expensive to set up a monitoring network in remote areas and regulators must therefore balance the cost effectiveness of these networks against the chance that a court might question their fitness for purpose. This presentation will examine how regulators can balance legal standards for monitoring against the cost of developing and maintaining the requisite networks, while still producing observable improvements in water and ecosystem quality backed by legally enforceable sanctions for breaches. Reflecting the findings from the EU-funded GENESIS project, it will look at case law from around the world to assess how tribunals balance competing models, and the extent to which decisions may be revisited in the light of new scientific understanding. Finally, it will make recommendations to assist regulators in optimising their network designs for enforcement.

  20. The organisation of transactions : studying supply networkd using gaming simulation

    NARCIS (Netherlands)

    Meijer, S.A.

    2009-01-01

    This book studies the organisation of transactions in supply networks. More specifically it investigates the influence of social structure on the mode of organisation in supply networks. To gain new insights, the results in this book have been gathered using gaming simulation as a research method.

  1. Cost/worth assessment of reliability improvement in distribution networks by means of artificial intelligence

    Energy Technology Data Exchange (ETDEWEB)

    Bouhouras, Aggelos S.; Labridis, Dimitris P.; Bakirtzis, Anastasios G. [Power Systems Laboratory, Aristotle University of Thessaloniki, Dept. of Electrical and Computer Engineering, 54124 Thessaloniki (Greece)

    2010-06-15

    A major challenge for the power utilities today is to ensure a high level of reliability of supply to customers. Two main factors determine the feasibility of a project that improves the reliability of supply: the project cost (investment and operational) and the benefits that result from the implementation of the project. This paper examines the implementation of an Artificial Intelligence System in an urban distribution network, capable to locate and isolate short circuit faults in the feeder, thus accomplishing immediate restoration of electric supply to the customers. The paper describes the benefits of the project, which are supply reliability improvement and distribution network loss reduction through network reconfigurations. By comparison of the project benefits and costs the economic feasibility of such a project for an underground distribution feeder in Greece is demonstrated. (author)

  2. A trusted cryptocurrency scheme for secure and verifiable digital transactions

    OpenAIRE

    Baldi, Marco; Chiaraluce, Franco

    2017-01-01

    Decentralized digital currency systems known as cryptocurrencies are a breakthrough in electronic payments: the absence of a central authority can avoid the risk that a not fully reliable government seizes assets or causes hyperinflation, very small transactions can be made without incurring high costs and transactions can be traced, thus providing a tool to counter laundering and tax evasion. Furthermore, decentralization provides robustness against many attacks. Despite these advantages, cr...

  3. Transaction based approach

    Science.gov (United States)

    Hunka, Frantisek; Matula, Jiri

    2017-07-01

    Transaction based approach is utilized in some methodologies in business process modeling. Essential parts of these transactions are human beings. The notion of agent or actor role is usually used for them. The paper on a particular example describes possibilities of Design Engineering Methodology for Organizations (DEMO) and Resource-Event-Agent (REA) methodology. Whereas the DEMO methodology can be regarded as a generic methodology having its foundation in the theory of Enterprise Ontology the REA methodology is regarded as the domain specific methodology and has its origin in accountancy systems. The results of these approaches is that the DEMO methodology captures everything that happens in the reality with a good empirical evidence whereas the REA methodology captures only changes connected with economic events. Economic events represent either change of the property rights to economic resource or consumption or production of economic resources. This results from the essence of economic events and their connection to economic resources.

  4. Cost effectiveness of DH-network construction. Final report; Kaukolaempoeverkon rakentamisen kehittaeminen; Loppuraportti

    Energy Technology Data Exchange (ETDEWEB)

    Kivistoe, V.M. [Ekono Energy Ltd, Espoo (Finland)

    1993-12-31

    Construction cost of DH networks were analyzed in the study. Basing on the analysis, those areas of construction activities were selected, where cost effectiveness could be improved. According to the study, the civil works` cost form about half of the total construction cost on small diameter networks and 30..40 % of the cost of larger sizes. The impact of the design on the construction cost should be emphasized. According to the study it is possible to find significant reduction in the construction cost by increased use of twin pipe where the both carrier pipes are included in the same insulation casing. In small network sizes the reduction of cost achievable by the above is about 30..35 % and in larger sizes about 10 % (DN 125..DN 200) when comparing with a design by individual pipes. The use of twin pipe also causes savings in thermal loss. In sizes DN 65 and up, the saving in heat loss is about 90..95 FIM/m which represents about half of the total savings when compared with design by individual pipes. The possibility of prestressing the twin pipe element at factory in order to shorten the installation time at site was also studied and test pipes was also done. By factory prestressing it would be possible to avoid preheating of pipes at construction site. The trench could be backfilled immediately after pipe laying, welding and inspections. Theoretically and based on test pipes done the prestressing of twin pipe element looks very promising. When factory prestressing would be used, the open time of the trench is reduced significantly and for instance the disturbance to traffic is smaller. As well the use of labour and machinery at site could be more effective

  5. International business transactions

    OpenAIRE

    Buczkowski, Bogdan

    2016-01-01

    Running a business on an international scale requires not only a substantial body of knowledge but also the ability to apply it in practice. That is why our textbook, with a vast collection of practical examples, discusses a wide variety of pertinent issues connected with business operations in international markets, from international market analysis, drafting business plans, concluding business transactions and the insurance of goods through to customs clearance procedures and professional ...

  6. Guaranteed cost control of mobile sensor networks with Markov switching topologies.

    Science.gov (United States)

    Zhao, Yuan; Guo, Ge; Ding, Lei

    2015-09-01

    This paper investigates the consensus seeking problem of mobile sensor networks (MSNs) with random switching topologies. The network communication topologies are composed of a set of directed graphs (or digraph) with a spanning tree. The switching of topologies is governed by a Markov chain. The consensus seeking problem is addressed by introducing a global topology-aware linear quadratic (LQ) cost as the performance measure. By state transformation, the consensus problem is transformed to the stabilization of a Markovian jump system with guaranteed cost. A sufficient condition for global mean-square consensus is derived in the context of stochastic stability analysis of Markovian jump systems. A computational algorithm is given to synchronously calculate both the sub-optimal consensus controller gains and the sub-minimum upper bound of the cost. The effectiveness of the proposed design method is illustrated by three numerical examples. Copyright © 2015 ISA. Published by Elsevier Ltd. All rights reserved.

  7. 21 CFR 1404.325 - What happens if I do business with an excluded person in a covered transaction?

    Science.gov (United States)

    2010-04-01

    ... person, we may disallow costs, annul or terminate the transaction, issue a stop work order, debar or... person in a covered transaction? 1404.325 Section 1404.325 Food and Drugs OFFICE OF NATIONAL DRUG CONTROL... Regarding Transactions Doing Business with Other Persons § 1404.325 What happens if I do business with an...

  8. 34 CFR 85.325 - What happens if I do business with an excluded person in a covered transaction?

    Science.gov (United States)

    2010-07-01

    ... person, we may disallow costs, annul or terminate the transaction, issue a stop work order, debar or... in a covered transaction? 85.325 Section 85.325 Education Office of the Secretary, Department of... Regarding Transactions Doing Business with Other Persons § 85.325 What happens if I do business with an...

  9. 22 CFR 1006.325 - What happens if I do business with an excluded person in a covered transaction?

    Science.gov (United States)

    2010-04-01

    ... disallow costs, annul or terminate the transaction, issue a stop work order, debar or suspend you, or take... person in a covered transaction? 1006.325 Section 1006.325 Foreign Relations INTER-AMERICAN FOUNDATION GOVERNMENTWIDE DEBARMENT AND SUSPENSION (NONPROCUREMENT) Responsibilities of Participants Regarding Transactions...

  10. 22 CFR 208.325 - What happens if I do business with an excluded person in a covered transaction?

    Science.gov (United States)

    2010-04-01

    ... person, we may disallow costs, annul or terminate the transaction, issue a stop work order, debar or... person in a covered transaction? 208.325 Section 208.325 Foreign Relations AGENCY FOR INTERNATIONAL... Regarding Transactions Doing Business with Other Persons § 208.325 What happens if I do business with an...

  11. 7 CFR 3017.325 - What happens if I do business with an excluded person in a covered transaction?

    Science.gov (United States)

    2010-01-01

    ... knowingly do business with an excluded person, we may disallow costs, annul or terminate the transaction... in a covered transaction? 3017.325 Section 3017.325 Agriculture Regulations of the Department of... DEBARMENT AND SUSPENSION (NONPROCUREMENT) Responsibilities of Participants Regarding Transactions § 3017.325...

  12. 22 CFR 1508.325 - What happens if I do business with an excluded person in a covered transaction?

    Science.gov (United States)

    2010-04-01

    ... person, we may disallow costs, annul or terminate the transaction, issue a stop work order, debar or... person in a covered transaction? 1508.325 Section 1508.325 Foreign Relations AFRICAN DEVELOPMENT... Regarding Transactions Doing Business with Other Persons § 1508.325 What happens if I do business with an...

  13. 2 CFR 180.325 - What happens if I do business with an excluded person in a covered transaction?

    Science.gov (United States)

    2010-01-01

    ... person, the Federal agency responsible for your transaction may disallow costs, annul or terminate the... excluded person in a covered transaction? 180.325 Section 180.325 Grants and Agreements OFFICE OF... Regarding Transactions Doing Business With Other Persons § 180.325 What happens if I do business with an...

  14. 29 CFR 98.325 - What happens if I do business with an excluded person in a covered transaction?

    Science.gov (United States)

    2010-07-01

    ... transaction? If as a participant you knowingly do business with an excluded person, we may disallow costs... covered transaction? 98.325 Section 98.325 Labor Office of the Secretary of Labor GOVERNMENTWIDE DEBARMENT AND SUSPENSION (NONPROCUREMENT) Responsibilities of Participants Regarding Transactions Doing Business...

  15. 29 CFR 1471.325 - What happens if I do business with an excluded person in a covered transaction?

    Science.gov (United States)

    2010-07-01

    ... business with an excluded person, we may disallow costs, annul or terminate the transaction, issue a stop... covered transaction? 1471.325 Section 1471.325 Labor Regulations Relating to Labor (Continued) FEDERAL... of Participants Regarding Transactions Doing Business with Other Persons § 1471.325 What happens if I...

  16. Cost-related model for transit rates in electric power distribution networks

    International Nuclear Information System (INIS)

    Collstrand, F.

    1994-02-01

    The planned deregulation of the swedish electrical power market will require a new structure of the electrical energy rates. In this report different models of transit rates are studied. The report includes studies of literature and a proposal to a rate structure and is made specifically for Malmoe Energi AB. The differences between various methods of calculating the transfer cost are illustrated. Further, the build-up of the tariff structure and its base elements are discussed. The costs are divided on different categories of costumers and shows the cost for each customer. The new regulations should apply simultaneously to all networks, independent of the voltage level. The transit cost should be based on a number of basic elements: capital cost, operation and maintenance, losses, measuring and administration. Capital cost and operation and maintenance should be charged as power fees, the loss cost as an energy fee and the measuring and administration cost as a fixed fee. The customer bill should be split into two parts, one for the transit cost and one for the energy usage. 15 refs., 37 tabs., 6 figs

  17. Adaptation in Food Networks: Theoretical Framework and Empirical Evidences

    Directory of Open Access Journals (Sweden)

    Gaetano Martino

    2013-03-01

    Full Text Available The paper concerns the integration in food networks under a governance point of view. We conceptualize the integration processes in terms of the adaptation theory and focus the issues related under a transaction cost economics perspective. We conjecture that the allocation of decisions rights between the parties to a transaction is a key instrument in order to cope with the sources of basic uncertainty in food networks: technological innovation, sustainability strategies, quality and safety objectives. Six case studies are proposed which contribute to corroborate our conjecture. Managerial patters based on a joint decision approach also are documented

  18. The Impact of Trust on the Mode of Transaction Governance between Manufacturer and Distributor: Evidence from Georgia

    OpenAIRE

    George BERULAVA; David LEZHAVA

    2008-01-01

    The goal of the paper is to explore main determinants of the mode of transaction governance between manufacturers and distributors. We examine a number of types of transaction governance, viz., markets, relational transacting, and hierarchies. The model proposed in the paper integrates the concept of trust with key dimensions of transaction cost economics, being estimated with data from a sample of Georgian manufacturing industries. The main finding of the study is that trust along with tra...

  19. Assessment for feasibility and pricing of wheeling transactions under deregulated environment of power industry

    International Nuclear Information System (INIS)

    Yog Raj Sood; Narayana Prasad Padhy; Hari Om Gupta

    2004-01-01

    Many transactions of electrical power are expected to take place due to deregulation of electrical power industry. It is important for independent power producers, independent system operator and bulk power consumers (load centers) to know and select the least cost transaction among all the feasible transactions. In this paper, selection of best possible wheeling transaction in a deregulated power system has been determined based on available transfer capability and short run marginal cost. The proposed algorithm has been tested and analyzed for IEEE-30 bus test system and hence applied to South African power industry, the results so obtained are found to be of very much practical use. (author)

  20. The Impact of Trust on the Mode of Transaction Governance between Manufacturer and Distributor: Evidence from Georgia

    Directory of Open Access Journals (Sweden)

    George BERULAVA

    2008-11-01

    Full Text Available The goal of the paper is to explore main determinants of the mode of transaction governance between manufacturers and distributors. We examine a number of types of transaction governance, viz., markets, relational transacting, and hierarchies. The model proposed in the paper integrates the concept of trust with key dimensions of transaction cost economics, being estimated with data from a sample of Georgian manufacturing industries. The main finding of the study is that trust along with traditional dimensions of transaction cost economics has a significant impact on the choice of exchange governance mode

  1. Transactive Campus Energy Systems: Final Report

    Energy Technology Data Exchange (ETDEWEB)

    Katipamula, Srinivas [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Corbin, Charles D. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Haack, Jereme N. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Hao, He [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Kim, Woohyun [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Hostick, Donna J. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Akyol, Bora A. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Allwardt, Craig H. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Carpenter, Brandon J. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Huang, Sen [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Liu, Guopeng [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Lutes, Robert G. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Makhmalbaf, Atefe [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Mendon, Vrushali V. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Ngo, Hung [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Somasundaram, Sriram [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Underhill, Ronald M. [Pacific Northwest National Lab. (PNNL), Richland, WA (United States); Zhao, Mingjie [Pacific Northwest National Lab. (PNNL), Richland, WA (United States)

    2017-09-26

    Transactive energy refers to the combination of economic and control techniques to improve grid reliability and efficiency. The fundamental purpose of transactive energy management is to seamlessly coordinate the operation of large numbers of new intelligent assets—such as distributed solar, energy storage and responsive building loads—to provide the flexibility needed to operate the power grid reliably and at minimum cost, particularly one filled with intermittent renewable generation such as the Pacific Northwest. It addresses the key challenge of providing smooth, stable, and predictable “control” of these assets, despite the fact that most are neither owned nor directly controlled by the power grid. The Clean Energy and Transactive Campus (CETC) work described in this report was done as part of a Cooperative Research and Development Agreement (CRADA) between the U.S. Department of Energy’s Pacific Northwest National Laboratory (PNNL) and the Washington State Department of Commerce (Commerce) through the Clean Energy Fund (CEF). The project team consisted of PNNL, the University of Washington (UW) and Washington State University (WSU), to connect the PNNL, UW, and WSU campuses to form a multi-campus testbed for transaction-based energy management—transactive—solutions. Building on the foundational transactive system established by the Pacific Northwest Smart Grid Demonstration (PNWSGD), the purpose of the project was to construct the testbed as both a regional flexibility resource and as a platform for research and development (R&D) on buildings/grid integration and information-based energy efficiency. This report provides a summary of the various tasks performed under the CRADA.

  2. Transaction-Based Controls for Building-Grid Integration: VOLTTRON™

    Energy Technology Data Exchange (ETDEWEB)

    Akyol, Bora A.; Haack, Jereme N.; Hernandez, George; Katipamula, Srinivas; Widergren, Steven E.

    2015-07-01

    The U.S. Department of Energy’s (DOE’s) Building Technologies Office (BTO) is supporting the development of a “transactional network” concept that supports energy, operational, and financial transactions between building systems (e.g., rooftop units -- RTUs), and the electric power grid using applications, or 'agents', that reside either on the equipment, on local building controllers, or in the Cloud. The transactional network vision is delivered using a real-time, scalable reference platform called VOLTTRON that supports the needs of the changing energy system. VOLTTRON is an agent execution and an innovative distributed control and sensing software platform that supports modern control strategies, including agent-based and transaction-based controls. It enables mobile and stationary software agents to perform information gathering, processing, and control actions.

  3. Implementing Virtual Private Networking for Enabling Lower Cost, More Secure Wide Area Communications at Sandia National Laboratories; TOPICAL

    International Nuclear Information System (INIS)

    MILLER, MARC M.; YONEK JR., GEORGE A.

    2001-01-01

    Virtual Private Networking is a new communications technology that promises lower cost, more secure wide area communications by leveraging public networks such as the Internet. Sandia National Laboratories has embraced the technology for interconnecting remote sites to Sandia's corporate network, and for enabling remote access users for both dial-up and broadband access

  4. Transaction processing in the common node of a distributed function laboratory computer system

    International Nuclear Information System (INIS)

    Stubblefield, F.W.; Dimmler, D.G.

    1975-01-01

    A computer network architecture consisting of a common node processor for managing peripherals and files and a number of private node processors for laboratory experiment control is briefly reviewed. Central to the problem of private node-common node communication is the concept of a transaction. The collection of procedures and the data structure associated with a transaction are described. The common node properties assigned to a transaction and procedures required for its complete processing are discussed. (U.S.)

  5. A dual exterior point simplex type algorithm for the minimum cost network flow problem

    Directory of Open Access Journals (Sweden)

    Geranis George

    2009-01-01

    Full Text Available A new dual simplex type algorithm for the Minimum Cost Network Flow Problem (MCNFP is presented. The proposed algorithm belongs to a special 'exterior- point simplex type' category. Similarly to the classical network dual simplex algorithm (NDSA, this algorithm starts with a dual feasible tree-solution and reduces the primal infeasibility, iteration by iteration. However, contrary to the NDSA, the new algorithm does not always maintain a dual feasible solution. Instead, the new algorithm might reach a basic point (tree-solution outside the dual feasible area (exterior point - dual infeasible tree.

  6. On Corporate Social Responsibility Origins: A Review of Transaction Costs --on the Institutional Arrangements of Promoting Social Responsibility of Enterprises in China%企业社会责任探源:一个交易成本的考察——兼论促进我国企业履行社会责任的制度安排

    Institute of Scientific and Technical Information of China (English)

    邹俊; 徐传谌

    2012-01-01

    Why companies have to fulfill their social responsibility, what is the root? It has been a hot issue in theory circles, until now there has been no consensus. For the existing research, transaction cost problems has been neglected, and examining the root causes of corporate social re- sponsibility from the perspective of transaction cost is possibly an effective way. Under the condi- tion of zero transaction costs, the market can optimize the allocation of resources to achieve Pareto optimality, and corporate social responsibility becomes not important; but in fact, under the condi- tion of positive transaction costs, insider trading and government failure in supervision cause the uncertainty, corporate social responsibility becomes a rational choice for controlling the transaction costs. In this paper, we discuss some related institutional arrangements to stimulate and promote corporate social responsibility system.%企业为何要履行社会责任,根源何在?一直以来是理论界探讨的热点问题,直到现在也没有达成共识。在已有的研究中,交易成本问题一直被忽略,从交易成本视角来考察企业履行社会责任之缘由,不失为一条有效途径。在零交易成本下,市场可以优化资源配置,实现帕累托最优,企业社会责任问题变得无关紧要;但在正交易成本的现实世界里,企业内部交易和政府失灵导致交易成本不确定性大大增强,企业履行社会责任成为控制交易成本的理性选择,而且也是激发和促进我国企业履行社会责任的相关制度安排。

  7. Remote Autonomous Sensor Networks: A Study in Redundancy and Life Cycle Costs

    Science.gov (United States)

    Ahlrichs, M.; Dotson, A.; Cenek, M.

    2017-12-01

    The remote nature of the United States and Canada border and their extreme seasonal shifts has made monitoring much of the area impossible using conventional monitoring techniques. Currently, the United States has large gaps in its ability to detect movement on an as-needed-basis in remote areas. The proposed autonomous sensor network aims to meet that need by developing a product that is low cost, robust, and can be deployed on an as-needed-basis for short term monitoring events. This is accomplished by identifying radio frequency disturbance and acoustic disturbance. This project aims to validate the proposed design and offer optimization strategies by conducting a redundancy model as well as performing a Life Cycle Assessment (LCA). The model will incorporate topological, meteorological, and land cover datasets to estimate sensor loss over a three-month period, ensuring that the remaining network does not have significant gaps in coverage which preclude being able to receive and transmit data. The LCA will investigate the materials used to create the sensor to generate an estimate of the total environmental energy that is utilized to create the network and offer alternative materials and distribution methods that can lower this cost. This platform can function as a stand-alone monitoring network or provide additional spatial and temporal resolution to existing monitoring networks. This study aims to create the framework to determine if a sensor's design and distribution is appropriate for the target environment. The incorporation of a LCA will seek to answer if the data a proposed sensor network will collect outweighs the environmental damage that will result from its deployment. Furthermore, as the arctic continues to thaw and economic development grows, the methodology described in paper will function as a guidance document to ensure that future sensor networks have a minimal impact on these pristine areas.

  8. Inclusion of tank configurations as a variable in the cost optimization of branched piped-water networks

    Science.gov (United States)

    Hooda, Nikhil; Damani, Om

    2017-06-01

    The classic problem of the capital cost optimization of branched piped networks consists of choosing pipe diameters for each pipe in the network from a discrete set of commercially available pipe diameters. Each pipe in the network can consist of multiple segments of differing diameters. Water networks also consist of intermediate tanks that act as buffers between incoming flow from the primary source and the outgoing flow to the demand nodes. The network from the primary source to the tanks is called the primary network, and the network from the tanks to the demand nodes is called the secondary network. During the design stage, the primary and secondary networks are optimized separately, with the tanks acting as demand nodes for the primary network. Typically the choice of tank locations, their elevations, and the set of demand nodes to be served by different tanks is manually made in an ad hoc fashion before any optimization is done. It is desirable therefore to include this tank configuration choice in the cost optimization process itself. In this work, we explain why the choice of tank configuration is important to the design of a network and describe an integer linear program model that integrates the tank configuration to the standard pipe diameter selection problem. In order to aid the designers of piped-water networks, the improved cost optimization formulation is incorporated into our existing network design system called JalTantra.

  9. A Cost-based Explanation of Gradual, Regional Internationalization of Multinationals on Social Networking Sites

    DEFF Research Database (Denmark)

    Pogrebnyakov, Nicolai

    2017-01-01

    This paper examines firm internationalization on social networking sites (SNS). It systematically examines costs faced by an internationalizing firm and how firms react to these costs according to “distance-dependent” (gradual and regional) and “distance-invariant” (born-global) explanations...... of internationalization. Data on 5827 country pages of 240 multinational firms on Facebook, the most popular SNS today, is used. Creating a foreign country-specific Facebook page is considered the SNS equivalent of opening a physical subsidiary in that country. The data show that multinationals exhibit...

  10. Fluid dynamics transactions

    CERN Document Server

    Fiszdon, W

    1965-01-01

    Fluid Dynamics Transactions, Volume 2 compiles 46 papers on fluid dynamics, a subdiscipline of fluid mechanics that deals with fluid flow. The topics discussed in this book include developments in interference theory for aeronautical applications; diffusion from sources in a turbulent boundary layer; unsteady motion of a finite wing span in a compressible medium; and wall pressure covariance and comparison with experiment. The certain classes of non-stationary axially symmetric flows in magneto-gas-dynamics; description of the phenomenon of secondary flows in curved channels by means of co

  11. Dynamic Self-Healing Mechanism for Transactional Business Process

    Directory of Open Access Journals (Sweden)

    Yuhai Zhao

    2015-01-01

    Full Text Available It is clear that transactional behavior consistency is a prerequisite and basis for construction of a reliable services-based business application. However, in previous works, maintaining transactional consistency during exception handling was ignored. Maintaining transactional consistency requires functionality for rolling back some operations and revoking uploaded data. Replacing only the failed service will eventually lead to overall business application failure. In this study, we take fully into account the behavioral consistency of transactional services and propose two effective self-healing mechanisms for service-based applications. If a service enters into potential failure condition, a rescheduling mechanism is triggered to maintain consistent transactional behavior and to ensure reliable execution; if a service fails during execution, the compensation operation is triggered and the system will take action to ensure transactional behavior consistency. Meanwhile, cost-benefit analysis with compensation support is proposed to minimize the dynamic reselection cost. Finally, the experimental analysis shows that the proposed strategies can effectively guarantee the reliability of Web-based applications system.

  12. Secure and Cost-Effective Distributed Aggregation for Mobile Sensor Networks.

    Science.gov (United States)

    Guo, Kehua; Zhang, Ping; Ma, Jianhua

    2016-04-23

    Secure data aggregation (SDA) schemes are widely used in distributed applications, such as mobile sensor networks, to reduce communication cost, prolong the network life cycle and provide security. However, most SDA are only suited for a single type of statistics (i.e., summation-based or comparison-based statistics) and are not applicable to obtaining multiple statistic results. Most SDA are also inefficient for dynamic networks. This paper presents multi-functional secure data aggregation (MFSDA), in which the mapping step and coding step are introduced to provide value-preserving and order-preserving and, later, to enable arbitrary statistics support in the same query. MFSDA is suited for dynamic networks because these active nodes can be counted directly from aggregation data. The proposed scheme is tolerant to many types of attacks. The network load of the proposed scheme is balanced, and no significant bottleneck exists. The MFSDA includes two versions: MFSDA-I and MFSDA-II. The first one can obtain accurate results, while the second one is a more generalized version that can significantly reduce network traffic at the expense of less accuracy loss.

  13. Efficient Mobile Client Caching Supporting Transaction Semantics

    Directory of Open Access Journals (Sweden)

    IlYoung Chung

    2000-05-01

    Full Text Available In mobile client-server database systems, caching of frequently accessed data is an important technique that will reduce the contention on the narrow bandwidth wireless channel. As the server in mobile environments may not have any information about the state of its clients' cache(stateless server, using broadcasting approach to transmit the updated data lists to numerous concurrent mobile clients is an attractive approach. In this paper, a caching policy is proposed to maintain cache consistency for mobile computers. The proposed protocol adopts asynchronous(non-periodic broadcasting as the cache invalidation scheme, and supports transaction semantics in mobile environments. With the asynchronous broadcasting approach, the proposed protocol can improve the throughput by reducing the abortion of transactions with low communication costs. We study the performance of the protocol by means of simulation experiments.

  14. A Decision Processing Algorithm for CDC Location Under Minimum Cost SCM Network

    Science.gov (United States)

    Park, N. K.; Kim, J. Y.; Choi, W. Y.; Tian, Z. M.; Kim, D. J.

    Location of CDC in the matter of network on Supply Chain is becoming on the high concern these days. Present status of methods on CDC has been mainly based on the calculation manually by the spread sheet to achieve the goal of minimum logistics cost. This study is focused on the development of new processing algorithm to overcome the limit of present methods, and examination of the propriety of this algorithm by case study. The algorithm suggested by this study is based on the principle of optimization on the directive GRAPH of SCM model and suggest the algorithm utilizing the traditionally introduced MST, shortest paths finding methods, etc. By the aftermath of this study, it helps to assess suitability of the present on-going SCM network and could be the criterion on the decision-making process for the optimal SCM network building-up for the demand prospect in the future.

  15. Reconfiguration of distribution networks to minimize loss and disruption costs using genetic algorithms

    Energy Technology Data Exchange (ETDEWEB)

    Cebrian, Juan Carlos; Kagan, Nelson [Department of Electrical Engineering, University of Sao Paulo, Escola Politecnica, Av. Prof. Luciano Gualberto, travessa 3 n 380 - CEP - 05508-970 - Sao Paulo (Brazil)

    2010-01-15

    In this paper a computational implementation of an evolutionary algorithm (EA) is shown in order to tackle the problem of reconfiguring radial distribution systems. The developed module considers power quality indices such as long duration interruptions and customer process disruptions due to voltage sags, by using the Monte Carlo simulation method. Power quality costs are modeled into the mathematical problem formulation, which are added to the cost of network losses. As for the EA codification proposed, a decimal representation is used. The EA operators, namely selection, recombination and mutation, which are considered for the reconfiguration algorithm, are herein analyzed. A number of selection procedures are analyzed, namely tournament, elitism and a mixed technique using both elitism and tournament. The recombination operator was developed by considering a chromosome structure representation that maps the network branches and system radiality, and another structure that takes into account the network topology and feasibility of network operation to exchange genetic material. The topologies regarding the initial population are randomly produced so as radial configurations are produced through the Prim and Kruskal algorithms that rapidly build minimum spanning trees. (author)

  16. THE SPECIFICITY OF INTRACOMMUNITY TRANSACTIONS

    Directory of Open Access Journals (Sweden)

    PALIU-POPA LUCIA

    2011-09-01

    Full Text Available Considered from the perspective of Romania's accession to the European Union, we can say that starting with 1 January 2007, foreign trade transactions were delimited in relation to the customs borders in intra-Community transactions and international transactions. In this context, the way of conducting these operations is influenced by both the economic and financial features specific to both categories of transactions, that relate to the economic character of the activity, the diversity and specificity of the foreign trade activity, transport of goods, the complexity and regulation of intra-Community and international commercial transactions, and by the specific features of each category of transaction. Starting from the consideration that the economic and financial characteristics of foreign trade activity, specific to intra-Community commercial transactions, have a significant influence in the organization and management of accounting of the entities involved in such transactions, determining in a greater or lesser extent, the way of capitalization of the financial and accounting information in the processes of analysis, decision and control, in this paper we proposed to address the features of intra-Community trade.

  17. Bridge Management Strategy Based on Extreme User Costs for Bridge Network Condition

    Directory of Open Access Journals (Sweden)

    Ladislaus Lwambuka

    2014-01-01

    Full Text Available This paper presents a practical approach for prioritization of bridge maintenance within a given bridge network. The maintenance prioritization is formulated as a multiobjective optimization problem where the simultaneous satisfaction of several conflicting objectives includes minimization of maintenance costs, maximization of bridge deck condition, and minimization of traffic disruption and associated user costs. The prevalence of user cost during maintenance period is twofold; the first case refers to the period of dry season where normally the traffic flow is diverted to alternative routes usually resurfaced to regain traffic access. The second prevalence refers to the absence of alternative routes which is often the case in the least developed countries; in this case the user cost referred to results from the waiting time while the traffic flow is put on hold awaiting accomplishment of the maintenance activity. This paper deals with the second scenario of traffic closure in the absence of alternative diversion routes which in essence results in extreme user cost. The paper shows that the multiobjective optimization approach remains valid for extreme cases of user costs in the absence of detour roads as often is the scenario in countries with extreme poor road infrastructure.

  18. Forecasting Construction Cost Index based on visibility graph: A network approach

    Science.gov (United States)

    Zhang, Rong; Ashuri, Baabak; Shyr, Yu; Deng, Yong

    2018-03-01

    Engineering News-Record (ENR), a professional magazine in the field of global construction engineering, publishes Construction Cost Index (CCI) every month. Cost estimators and contractors assess projects, arrange budgets and prepare bids by forecasting CCI. However, fluctuations and uncertainties of CCI cause irrational estimations now and then. This paper aims at achieving more accurate predictions of CCI based on a network approach in which time series is firstly converted into a visibility graph and future values are forecasted relied on link prediction. According to the experimental results, the proposed method shows satisfactory performance since the error measures are acceptable. Compared with other methods, the proposed method is easier to implement and is able to forecast CCI with less errors. It is convinced that the proposed method is efficient to provide considerably accurate CCI predictions, which will make contributions to the construction engineering by assisting individuals and organizations in reducing costs and making project schedules.

  19. Impact of connection density on regional cost differences for network operators in the Netherlands

    International Nuclear Information System (INIS)

    2009-04-01

    The Dutch Office of Energy Regulation ('Energiekamer') has an obligation to investigate the extent to which the electricity and gas distribution businesses (DNOs) in the Netherlands face different structural environments that result in regional cost differences which, in turn, could justify tariff differences. On the basis of previous studies, Energiekamer has identified 'water crossings' and 'local taxes' as allowable regional differences. To account for them, Energiekamer has introduced an adjustment to the regulated revenues formula in order to guarantee a level-playing field to the Dutch DNOs. In addition to these factors, it has been claimed that connection density may have an impact on distribution costs and that, therefore, regulated revenues should be adjusted to compensate for regional differences in connection density between DNOs. However, so far, the research in this field has been unable to identify a sufficiently robust relationship between cost and connection density to support this claim. In order to address this issue, Energiekamer has asked Frontier Economics and Consentec to further investigate the relationship between connection density and distribution costs in the Netherlands. Therefore, our analysis has aimed at determining whether, and to what extent, connection density in the Netherlands is a significant driver of the costs of electricity and gas distribution networks. The following three questions are answered: (1) Is connection density a significant cost driver in electricity and gas networks in the Netherlands?; (2) If so, which functional form (e.g. U-shaped) does this relationship have in the Netherlands?; (3) Finally, based on the evidence collected, is the influence of connection density sufficiently well-determined to be considered a regional difference in the Dutch regulatory framework?

  20. Bilateral transaction bargaining between independent utilities under incomplete information

    International Nuclear Information System (INIS)

    David, A. K.; Wen, F. S.

    2001-01-01

    A new approach to designing bilateral power transaction bargaining models between two independent utilities in a deregulated electricity market is proposed. In the paper it is assumed that each utility (a seller or a buyer) knows its own operating costs but does not know those of its opponent. The bilateral power transaction problem is then considered as non-cooperative bargaining under incomplete information. Each participant develops its own bargaining strategy based on estimates of the opponent's operating costs and bargaining strategy. Two bargaining models are developed and examples are employed for demonstration. (Author)

  1. On the Problem of Attribute Selection for Software Cost Estimation: Input Backward Elimination Using Artificial Neural Networks

    OpenAIRE

    Papatheocharous , Efi; Andreou , Andreas S.

    2010-01-01

    International audience; Many parameters affect the cost evolution of software projects. In the area of software cost estimation and project management the main challenge is to understand and quantify the effect of these parameters, or 'cost drivers', on the effort expended to develop software systems. This paper aims at investigating the effect of cost attributes on software development effort using empirical databases of completed projects and building Artificial Neural Network (ANN) models ...

  2. Potential impacts of the Alberta fetal alcohol spectrum disorder service networks on secondary disabilities: a cost-benefit analysis.

    Science.gov (United States)

    Thanh, Nguyen Xuan; Moffatt, Jessica; Jacobs, Philip; Chuck, Anderson W; Jonsson, Egon

    2013-01-01

    To estimate the break-even effectiveness of the Alberta Fetal Alcohol Spectrum Disorder (FASD) Service Networks in reducing occurrences of secondary disabilities associated with FASD. The secondary disabilities addressed within this study include crime, homelessness, mental health problems, and school disruption (for children) or unemployment (for adults). We used a cost-benefit analysis approach where benefits of the service networks were the cost difference between the two approaches: having the 12 service networks and having no service network in place, across Alberta. We used a threshold analysis to estimate the break-even effectiveness (i.e. the effectiveness level at which the service networks became cost-saving). If no network was in place throughout the province, the secondary disabilities would cost $22.85 million (including $8.62 million for adults and $14.24 million for children) per year. Given the cost of network was $6.12 million per year, the break-even effectiveness was estimated at 28% (range: 25% to 32%). Although not all benefits associated with the service networks are included, such as the exclusion of the primary benefit to those experiencing FASD, the benefits to FASD caregivers, and the preventative benefits, the economic and social burden associated with secondary disabilities will "pay-off" if the effectiveness of the program in reducing secondary disabilities is 28%.

  3. Transactional Sex among Noninjecting Illicit Drug Users: Implications for HIV Transmission

    Directory of Open Access Journals (Sweden)

    Rafael Alves Guimarães

    2016-01-01

    Full Text Available Noninjecting illicit drug users (NIDUs present high risk for HIV infection, due especially to transactional sex. This study aimed to estimate the prevalence and risk factors for transactional sex among NIDUs in the Southwest region of Goiás State, Central Brazil. The prevalence of self-reported transactional sex was 22.8%. Prevalence in women and men was 52.7% and 16.8%, respectively, a significant difference (p<0.001. Crack use and history of sexually transmitted infections (STI were risk factors for transactional sex in men. Homelessness, crack use, sex under the influence of drugs, and history of sexual violence were risk factors for transactional sex in women. A high prevalence of transactional sex was observed among NIDUs. This risk behavior may contribute to the high rates of HIV among this population and their social networks and in the general population.

  4. A Low-Cost, Real-Time Network for Radiological Monitoring Around Nuclear Facilities

    International Nuclear Information System (INIS)

    Bertoldo, N A

    2004-01-01

    A low-cost, real-time radiological sensor network for emergency response has been developed and deployed at the Lawrence Livermore National Laboratory (LLNL). The Real-Time Radiological Area Monitoring (RTRAM) network is comprised of 16 Geiger-Mueller (GM) sensors positioned on the site perimeter to continuously monitor radiological conditions as part of LLNL's comprehensive environment/safety/health protection program. The RTRAM network sensor locations coincide with wind sector directions to provide thorough coverage of the one square mile site. These low-power sensors transmit measurement data back to a central command center (CCC) computer through the LLNL telecommunications infrastructure. Alarm conditions are identified by comparing current data to predetermined threshold parameters and are validated by comparison with plausible dispersion modeling scenarios and prevailing meteorological conditions. Emergency response personnel are notified of alarm conditions by automatic radio- and computer- based notifications. A secure intranet provides emergency response personnel with current condition assessment data that enable them to direct field response efforts remotely. This system provides a low-cost real-time radiation monitoring solution that is easily converted to incorporate both a hard-wired interior perimeter with strategically positioned wireless secondary and tertiary concentric remote locations. These wireless stations would be configured with solar voltaic panels that provide current to recharge batteries and power the sensors and radio transceivers. These platforms would supply data transmission at a range of up to 95 km from a single transceiver location. As necessary, using radio transceivers in repeater mode can extend the transmission range. The RTRAM network as it is presently configured at LLNL has proven to be a reliable system since initial deployment in August 2001 and maintains stability during inclement weather conditions. With the proposed

  5. FINANCING OF INTERNATIONAL TRANSACTIONS

    Directory of Open Access Journals (Sweden)

    RADU NICOLAE BĂLUNĂ

    2013-02-01

    Full Text Available Financing (funding is essentially the purchase of funds necessary for a business. This can be done from internal sources (company’s own funds or external (borrowed funds. The high value of goods traded in international trade makes revenues generated from internal resources not sufficient to settle the value of the goods. Thus, it is frequent to resort to borrowed funds. In International Business Transactions, external financing is done both by classical techniques of credit (credit supplier and buyer credit and modern techniques of financing (factoring, forfeiting, leasing all trade tailored. In terms of the length of financing, accounting funding is short-term (1-12 months and long-term financing (over a year. In principle, export and import operations prevailing short-term financing techniques, while international investment and industrial cooperation actions are specific long-term funding

  6. The modular organization of human anatomical brain networks: Accounting for the cost of wiring

    Directory of Open Access Journals (Sweden)

    Richard F. Betzel

    2017-02-01

    Full Text Available Brain networks are expected to be modular. However, existing techniques for estimating a network’s modules make it difficult to assess the influence of organizational principles such as wiring cost reduction on the detected modules. Here we present a modification of an existing module detection algorithm that allowed us to focus on connections that are unexpected under a cost-reduction wiring rule and to identify modules from among these connections. We applied this technique to anatomical brain networks and showed that the modules we detected differ from those detected using the standard technique. We demonstrated that these novel modules are spatially distributed, exhibit unique functional fingerprints, and overlap considerably with rich clubs, giving rise to an alternative and complementary interpretation of the functional roles of specific brain regions. Finally, we demonstrated that, using the modified module detection approach, we can detect modules in a developmental dataset that track normative patterns of maturation. Collectively, these findings support the hypothesis that brain networks are composed of modules and provide additional insight into the function of those modules.

  7. Online Learning Algorithm for Time Series Forecasting Suitable for Low Cost Wireless Sensor Networks Nodes

    Directory of Open Access Journals (Sweden)

    Juan Pardo

    2015-04-01

    Full Text Available Time series forecasting is an important predictive methodology which can be applied to a wide range of problems. Particularly, forecasting the indoor temperature permits an improved utilization of the HVAC (Heating, Ventilating and Air Conditioning systems in a home and thus a better energy efficiency. With such purpose the paper describes how to implement an Artificial Neural Network (ANN algorithm in a low cost system-on-chip to develop an autonomous intelligent wireless sensor network. The present paper uses a Wireless Sensor Networks (WSN to monitor and forecast the indoor temperature in a smart home, based on low resources and cost microcontroller technology as the 8051MCU. An on-line learning approach, based on Back-Propagation (BP algorithm for ANNs, has been developed for real-time time series learning. It performs the model training with every new data that arrive to the system, without saving enormous quantities of data to create a historical database as usual, i.e., without previous knowledge. Consequently to validate the approach a simulation study through a Bayesian baseline model have been tested in order to compare with a database of a real application aiming to see the performance and accuracy. The core of the paper is a new algorithm, based on the BP one, which has been described in detail, and the challenge was how to implement a computational demanding algorithm in a simple architecture with very few hardware resources.

  8. Online Learning Algorithm for Time Series Forecasting Suitable for Low Cost Wireless Sensor Networks Nodes

    Science.gov (United States)

    Pardo, Juan; Zamora-Martínez, Francisco; Botella-Rocamora, Paloma

    2015-01-01

    Time series forecasting is an important predictive methodology which can be applied to a wide range of problems. Particularly, forecasting the indoor temperature permits an improved utilization of the HVAC (Heating, Ventilating and Air Conditioning) systems in a home and thus a better energy efficiency. With such purpose the paper describes how to implement an Artificial Neural Network (ANN) algorithm in a low cost system-on-chip to develop an autonomous intelligent wireless sensor network. The present paper uses a Wireless Sensor Networks (WSN) to monitor and forecast the indoor temperature in a smart home, based on low resources and cost microcontroller technology as the 8051MCU. An on-line learning approach, based on Back-Propagation (BP) algorithm for ANNs, has been developed for real-time time series learning. It performs the model training with every new data that arrive to the system, without saving enormous quantities of data to create a historical database as usual, i.e., without previous knowledge. Consequently to validate the approach a simulation study through a Bayesian baseline model have been tested in order to compare with a database of a real application aiming to see the performance and accuracy. The core of the paper is a new algorithm, based on the BP one, which has been described in detail, and the challenge was how to implement a computational demanding algorithm in a simple architecture with very few hardware resources. PMID:25905698

  9. Online learning algorithm for time series forecasting suitable for low cost wireless sensor networks nodes.

    Science.gov (United States)

    Pardo, Juan; Zamora-Martínez, Francisco; Botella-Rocamora, Paloma

    2015-04-21

    Time series forecasting is an important predictive methodology which can be applied to a wide range of problems. Particularly, forecasting the indoor temperature permits an improved utilization of the HVAC (Heating, Ventilating and Air Conditioning) systems in a home and thus a better energy efficiency. With such purpose the paper describes how to implement an Artificial Neural Network (ANN) algorithm in a low cost system-on-chip to develop an autonomous intelligent wireless sensor network. The present paper uses a Wireless Sensor Networks (WSN) to monitor and forecast the indoor temperature in a smart home, based on low resources and cost microcontroller technology as the 8051MCU. An on-line learning approach, based on Back-Propagation (BP) algorithm for ANNs, has been developed for real-time time series learning. It performs the model training with every new data that arrive to the system, without saving enormous quantities of data to create a historical database as usual, i.e., without previous knowledge. Consequently to validate the approach a simulation study through a Bayesian baseline model have been tested in order to compare with a database of a real application aiming to see the performance and accuracy. The core of the paper is a new algorithm, based on the BP one, which has been described in detail, and the challenge was how to implement a computational demanding algorithm in a simple architecture with very few hardware resources.

  10. Construction cost estimation of spherical storage tanks: artificial neural networks and hybrid regression—GA algorithms

    Science.gov (United States)

    Arabzadeh, Vida; Niaki, S. T. A.; Arabzadeh, Vahid

    2017-10-01

    One of the most important processes in the early stages of construction projects is to estimate the cost involved. This process involves a wide range of uncertainties, which make it a challenging task. Because of unknown issues, using the experience of the experts or looking for similar cases are the conventional methods to deal with cost estimation. The current study presents data-driven methods for cost estimation based on the application of artificial neural network (ANN) and regression models. The learning algorithms of the ANN are the Levenberg-Marquardt and the Bayesian regulated. Moreover, regression models are hybridized with a genetic algorithm to obtain better estimates of the coefficients. The methods are applied in a real case, where the input parameters of the models are assigned based on the key issues involved in a spherical tank construction. The results reveal that while a high correlation between the estimated cost and the real cost exists; both ANNs could perform better than the hybridized regression models. In addition, the ANN with the Levenberg-Marquardt learning algorithm (LMNN) obtains a better estimation than the ANN with the Bayesian-regulated learning algorithm (BRNN). The correlation between real data and estimated values is over 90%, while the mean square error is achieved around 0.4. The proposed LMNN model can be effective to reduce uncertainty and complexity in the early stages of the construction project.

  11. Potential travel cost saving in urban public-transport networks using smartphone guidance

    Science.gov (United States)

    2018-01-01

    Public transport (PT) is a key element in most major cities around the world. With the development of smartphones, available journey planning information is becoming an integral part of the PT system. Each traveler has specific preferences when undertaking a trip, and these preferences can also be reflected on the smartphone. This paper considers transit assignment in urban public-transport networks in which the passengers receive smartphone-based information containing elements that might influence the travel decisions in relation to line loads, as well as passenger benefits, and the paper discusses the transition from the current widespread choosing approach to a personalized decision-making approach based on smartphone information. The approach associated with smartphone guidance that considers passengers’ preference on travel time, waiting time and transfer is proposed in the process of obtaining his/her preferred route from the potential travel routes generated by the Deep First Search (DFS) method. Two other approaches, based on the scenarios reflecting reality, include passengers with access to no real time information, and passengers that only have access to the arrival time at the platform are used as comparisons. For illustration, the same network proposed by Spiess and Florian is utilized on the experiments in an agent-based model. Two experiments are conducted respectively according to whether each passenger’s choosing method is consistent. As expected, the results in the first experiment showed that the travel for consistent passengers with smartphone guidance was clearly shorter and that it can reduce travel time exceeding 15% and weighted cost exceeding 20%, and the average saved time approximated 3.88 minutes per passenger. The second experiment presented that travel cost, as well as cost savings, gradually decreased by employing smartphone guidance, and the maximum cost savings accounted for 14.2% of the total weighted cost. PMID:29746528

  12. Potential travel cost saving in urban public-transport networks using smartphone guidance.

    Science.gov (United States)

    Song, Cuiying; Guan, Wei; Ma, Jihui

    2018-01-01

    Public transport (PT) is a key element in most major cities around the world. With the development of smartphones, available journey planning information is becoming an integral part of the PT system. Each traveler has specific preferences when undertaking a trip, and these preferences can also be reflected on the smartphone. This paper considers transit assignment in urban public-transport networks in which the passengers receive smartphone-based information containing elements that might influence the travel decisions in relation to line loads, as well as passenger benefits, and the paper discusses the transition from the current widespread choosing approach to a personalized decision-making approach based on smartphone information. The approach associated with smartphone guidance that considers passengers' preference on travel time, waiting time and transfer is proposed in the process of obtaining his/her preferred route from the potential travel routes generated by the Deep First Search (DFS) method. Two other approaches, based on the scenarios reflecting reality, include passengers with access to no real time information, and passengers that only have access to the arrival time at the platform are used as comparisons. For illustration, the same network proposed by Spiess and Florian is utilized on the experiments in an agent-based model. Two experiments are conducted respectively according to whether each passenger's choosing method is consistent. As expected, the results in the first experiment showed that the travel for consistent passengers with smartphone guidance was clearly shorter and that it can reduce travel time exceeding 15% and weighted cost exceeding 20%, and the average saved time approximated 3.88 minutes per passenger. The second experiment presented that travel cost, as well as cost savings, gradually decreased by employing smartphone guidance, and the maximum cost savings accounted for 14.2% of the total weighted cost.

  13. Monetary policy and the transaction role of money in the United States

    NARCIS (Netherlands)

    Kriwoluzky, A.; Stoltenberg, C.A.

    2012-01-01

    We argue that the declining importance of money in saving transaction costs can explain the well-known fact that U.S. interest rate policy was passive in the pre-Volcker period and active after 1982. To identify the declining role of money in transactions as the driving force for the change in

  14. Economic consequences of extra by-passes in district heating networks. Investment-, running- and maintenance costs

    International Nuclear Information System (INIS)

    Herbert, P.

    1995-02-01

    For various reasons, extra by-passes are installed in district heating networks to ensure a high flow temperature when the water circulation is insufficient. By 'extra by-pass' we here mean a connection between the distribution pipe and the return pipe. This study mainly deals with extra by-passes to prevent freezing. The estimation of the extra by-pass costs is based on the district heating rates. Our assumption is that an extra by-pass can be regarded as a substation in the district heating network, with regard to the demand for the water flow, heat and power. The reason is the difficulty to obtain available facts to estimate the real costs concerning extra by-passes. Therefore, the method can not claim that the information about the costs is exact but gives an indication of the size of them. The valves in an extra by-pass can be set more or less open. We assume that manual valves in extra by-passes are wide open. Thermostatic valves are, however, assumed to be adjusted in order to cause a very small water flow. 2 refs, 16 figs, 9 tabs, 6 appendices

  15. NetPICOmag: A low-cost networked magnetometer and its applications

    Science.gov (United States)

    Schofield, I.; Connors, M.; Russell, C. T.

    2012-03-01

    NetPICOmag (NPM) is the culmination of a design effort to build a compact, low-cost, laboratory-grade, networked magnetometer designed for remote autonomous operation, suited for research and education. NPM allows wide placement of magnetometers sensitive enough to detect auroral activity and the daily variation, and is suitable for education projects and a range of geophysical applications. The use of networked microcontrollers and GPS timing is applicable to other small instruments for field or local deployment, and an onboard data logging capability has also been demonstrated. We illustrate the value of the placement of low-cost magnetometers to increase coverage in an area through the study of a Pc 5 pulsation event which took place on September 4, 2010. By combining results with those from auroral zone magnetometers supporting the THEMIS project, we find that the phase velocity of these morning sector pulsations was northward on the ground. The event took place under very quiet solar wind conditions, and credible mapping associates it with the inner magnetosphere. Another aspect beyond increasing areal coverage is increasing density of coverage, which becomes feasible with instruments of very low cost. We examine aspects of the April 5, 2010 space weather event which are possible to deduce from closely spaced magnetometers.

  16. A medical cost estimation with fuzzy neural network of acute hepatitis patients in emergency room.

    Science.gov (United States)

    Kuo, R J; Cheng, W C; Lien, W C; Yang, T J

    2015-10-01

    Taiwan is an area where chronic hepatitis is endemic. Liver cancer is so common that it has been ranked first among cancer mortality rates since the early 1980s in Taiwan. Besides, liver cirrhosis and chronic liver diseases are the sixth or seventh in the causes of death. Therefore, as shown by the active research on hepatitis, it is not only a health threat, but also a huge medical cost for the government. The estimated total number of hepatitis B carriers in the general population aged more than 20 years old is 3,067,307. Thus, a case record review was conducted from all patients with diagnosis of acute hepatitis admitted to the Emergency Department (ED) of a well-known teaching-oriented hospital in Taipei. The cost of medical resource utilization is defined as the total medical fee. In this study, a fuzzy neural network is employed to develop the cost forecasting model. A total of 110 patients met the inclusion criteria. The computational results indicate that the FNN model can provide more accurate forecasts than the support vector regression (SVR) or artificial neural network (ANN). In addition, unlike SVR and ANN, FNN can also provide fuzzy IF-THEN rules for interpretation. Copyright © 2015 Elsevier Ireland Ltd. All rights reserved.

  17. Assessing the Performance of a Network of Low Cost Particulate Matter Sensors Deployed in Sacramento, California

    Science.gov (United States)

    Mukherjee, A. D.; Brown, S. G.; McCarthy, M. C.

    2017-12-01

    A new generation of low cost air quality sensors have the potential to provide valuable information on the spatial-temporal variability of air pollution - if the measurements have sufficient quality. This study examined the performance of a particulate matter sensor model, the AirBeam (HabitatMap Inc., Brooklyn, NY), over a three month period in the urban environment of Sacramento, California. Nineteen AirBeam sensors were deployed at a regulatory air monitoring site collocated with meteorology measurements and as a local network over an 80 km2 domain in Sacramento, CA. This study presents the methodology to evaluate the precision, accuracy, and reliability of the sensors over a range of meteorological and aerosol conditions. The sensors demonstrated a robust degree of precision during collocated measurement periods (R2 = 0.98 - 0.99) and a moderate degree of correlation against a Beta Attenuation Monitor PM2.5 monitor (R2 0.6). A normalization correction is applied during the study period so that each AirBeam sensor in the network reports a comparable value. The role of the meteorological environment on the accuracy of the sensor measurements is investigated, along with the possibility of improving the measurements through a meteorology weighted correction. The data quality of the network of sensors is examined, and the spatial variability of particulate matter through the study domain derived from the sensor network is presented.

  18. Low-cost autonomous perceptron neural network inspired by quantum computation

    Science.gov (United States)

    Zidan, Mohammed; Abdel-Aty, Abdel-Haleem; El-Sadek, Alaa; Zanaty, E. A.; Abdel-Aty, Mahmoud

    2017-11-01

    Achieving low cost learning with reliable accuracy is one of the important goals to achieve intelligent machines to save time, energy and perform learning process over limited computational resources machines. In this paper, we propose an efficient algorithm for a perceptron neural network inspired by quantum computing composite from a single neuron to classify inspirable linear applications after a single training iteration O(1). The algorithm is applied over a real world data set and the results are outer performs the other state-of-the art algorithms.

  19. A cost-effective measurement-device-independent quantum key distribution system for quantum networks

    Science.gov (United States)

    Valivarthi, Raju; Zhou, Qiang; John, Caleb; Marsili, Francesco; Verma, Varun B.; Shaw, Matthew D.; Nam, Sae Woo; Oblak, Daniel; Tittel, Wolfgang

    2017-12-01

    We experimentally realize a measurement-device-independent quantum key distribution (MDI-QKD) system. It is based on cost-effective and commercially available hardware such as distributed feedback lasers and field-programmable gate arrays that enable time-bin qubit preparation and time-tagging, and active feedback systems that allow for compensation of time-varying properties of photons after transmission through deployed fiber. We examine the performance of our system, and conclude that its design does not compromise performance. Our demonstration paves the way for MDI-QKD-based quantum networks in star-type topology that extend over more than 100 km distance.

  20. Long-range planning cost model for support of future space missions by the deep space network

    Science.gov (United States)

    Sherif, J. S.; Remer, D. S.; Buchanan, H. R.

    1990-01-01

    A simple model is suggested to do long-range planning cost estimates for Deep Space Network (DSP) support of future space missions. The model estimates total DSN preparation costs and the annual distribution of these costs for long-range budgetary planning. The cost model is based on actual DSN preparation costs from four space missions: Galileo, Voyager (Uranus), Voyager (Neptune), and Magellan. The model was tested against the four projects and gave cost estimates that range from 18 percent above the actual total preparation costs of the projects to 25 percent below. The model was also compared to two other independent projects: Viking and Mariner Jupiter/Saturn (MJS later became Voyager). The model gave cost estimates that range from 2 percent (for Viking) to 10 percent (for MJS) below the actual total preparation costs of these missions.

  1. Global Approximations to Cost and Production Functions using Artificial Neural Networks

    Directory of Open Access Journals (Sweden)

    Efthymios G. Tsionas

    2009-06-01

    Full Text Available The estimation of cost and production functions in economics relies on standard specifications which are less than satisfactory in numerous situations. However, instead of fitting the data with a pre-specified model, Artificial Neural Networks (ANNs let the data itself serve as evidence to support the modelrs estimation of the underlying process. In this context, the proposed approach combines the strengths of economics, statistics and machine learning research and the paper proposes a global approximation to arbitrary cost and production functions, respectively, given by ANNs. Suggestions on implementation are proposed and empirical application relies on standard techniques. All relevant measures such as Returns to Scale (RTS and Total Factor Productivity (TFP may be computed routinely.

  2. The COST Action IC0604 "Telepathology Network in Europe" (EURO-TELEPATH).

    Science.gov (United States)

    García-Rojo, Marcial; Gonçalves, Luís; Blobel, Bernd

    2012-01-01

    The COST Action IC0604 "Telepathology Network in Europe" (EURO-TELEPATH) is a European COST Action that has been running from 2007 to 2011. COST Actions are funded by the COST (European Cooperation in the field of Scientific and Technical Research) Agency, supported by the Seventh Framework Programme for Research and Technological Development (FP7), of the European Union. EURO-TELEPATH's main objectives were evaluating and validating the common technological framework and communication standards required to access, transmit and manage digital medical records by pathologists and other medical professionals in a networked environment. The project was organized in four working groups. orking Group 1 "Business modeling in pathology" has designed main pathology processes - Frozen Study, Formalin Fixed Specimen Study, Telepathology, Cytology, and Autopsy -using Business Process Modeling Notation (BPMN). orking Group 2 "Informatics standards in pathology" has been dedicated to promoting the development and application of informatics standards in pathology, collaborating with Integrating the Healthcare Enterprise (IHE), Digital Imaging and Communications in Medicine (DICOM), Health Level Seven (HL7), and other standardization bodies. Working Group 3 "Images: Analysis, Processing, Retrieval and Management" worked on the use of virtual or digital slides that are fostering the use of image processing and analysis in pathology not only for research purposes, but also in daily practice. Working Group 4 "Technology and Automation in Pathology" was focused on studying the adequacy of current existing technical solutions, including, e.g., the quality of images obtained by slide scanners, or the efficiency of image analysis applications. Major outcome of this action are the collaboration with international health informatics standardization bodies to foster the development of standards for digital pathology, offering a new approach for workflow analysis, based in business process

  3. Principles of Transactional Memory The Theory

    CERN Document Server

    Guerraoui, Rachid

    2010-01-01

    Transactional memory (TM) is an appealing paradigm for concurrent programming on shared memory architectures. With a TM, threads of an application communicate, and synchronize their actions, via in-memory transactions. Each transaction can perform any number of operations on shared data, and then either commit or abort. When the transaction commits, the effects of all its operations become immediately visible to other transactions; when it aborts, however, those effects are entirely discarded. Transactions are atomic: programmers get the illusion that every transaction executes all its operati

  4. Application of multivariate probabilistic (Bayesian) networks to substance use disorder risk stratification and cost estimation.

    Science.gov (United States)

    Weinstein, Lawrence; Radano, Todd A; Jack, Timothy; Kalina, Philip; Eberhardt, John S

    2009-09-16

    This paper explores the use of machine learning and Bayesian classification models to develop broadly applicable risk stratification models to guide disease management of health plan enrollees with substance use disorder (SUD). While the high costs and morbidities associated with SUD are understood by payers, who manage it through utilization review, acute interventions, coverage and cost limitations, and disease management, the literature shows mixed results for these modalities in improving patient outcomes and controlling cost. Our objective is to evaluate the potential of data mining methods to identify novel risk factors for chronic disease and stratification of enrollee utilization, which can be used to develop new methods for targeting disease management services to maximize benefits to both enrollees and payers. For our evaluation, we used DecisionQ machine learning algorithms to build Bayesian network models of a representative sample of data licensed from Thomson-Reuters' MarketScan consisting of 185,322 enrollees with three full-year claim records. Data sets were prepared, and a stepwise learning process was used to train a series of Bayesian belief networks (BBNs). The BBNs were validated using a 10 percent holdout set. The networks were highly predictive, with the risk-stratification BBNs producing area under the curve (AUC) for SUD positive of 0.948 (95 percent confidence interval [CI], 0.944-0.951) and 0.736 (95 percent CI, 0.721-0.752), respectively, and SUD negative of 0.951 (95 percent CI, 0.947-0.954) and 0.738 (95 percent CI, 0.727-0.750), respectively. The cost estimation models produced area under the curve ranging from 0.72 (95 percent CI, 0.708-0.731) to 0.961 (95 percent CI, 0.95-0.971). We were able to successfully model a large, heterogeneous population of commercial enrollees, applying state-of-the-art machine learning technology to develop complex and accurate multivariate models that support near-real-time scoring of novel payer

  5. A Portable Low-Cost High Density Sensor Network for Air Quality at London Heathrow Airport

    Science.gov (United States)

    Popoola, Olalekan; Mead, Iq; Bright, Vivien; Baron, Ronan; Saffell, John; Stewart, Gregor; Kaye, Paul; Jones, Roderic

    2013-04-01

    Outdoor air quality and its impact on human health and the environment have been well studied and it has been projected that poor air quality will surpass poor sanitation as the major course of environmental premature mortality by 2050 (IGAC / IGBP, release statement, 2012). Transport-related pollution has been regulated at various levels by enactment of legislations at local, national, regional and global stages. As part of the mitigation measures, routine measurements of atmospheric pollutants such as carbon monoxide (CO), nitric oxide (NO) and nitrogen dioxide (NO2) have to be established in areas where air quality problems are identified. In addition, emission inventories are also generated for different atmospheric environments including urban areas and airport environments required for air quality models. Whilst recognising that most of the existing sparse monitoring networks provide high temporal measurements, spatial data of these highly variable pollutants are not captured, making it difficult to adequately characterise the highly heterogeneous air quality. Spatial information is often obtained from model data which can only be constrained using measurements from the sparse monitoring networks. The work presented here shows the application of low-cost sensor networks aimed at addressing this missing spatial information. We have shown in previous studies the application of low-cost electrochemical sensor network instruments in monitoring road transport pollutants including CO, NO and NO2 in an urban environment (Mead et. al. 2012, accepted Atmospheric Environment). Modified versions of these instruments which include additional species such as O3, SO2, VOCs and CO2 are currently deployed at London Heathrow Airport (LHR) as part of the Sensor Network for Air Quality (SNAQ) project. Meteorology data such as temperature, relative humidity, wind speed and direction are also measured as well as size-speciated particulates (0.38 to 17.4 µm). A network of 50

  6. A cost-effective traffic data collection system based on the iDEN mobile telecommunication network.

    Science.gov (United States)

    2008-10-01

    This report describes a cost-effective data collection system for Caltrans 170 traffic signal : controller. The data collection system is based on TCP/IP communication over existing : low-cost mobile communication networks and Motorola iDEN1 mobile...

  7. Transaction management with integrity checking

    DEFF Research Database (Denmark)

    Martinenghi, Davide; Christiansen, Henning

    2005-01-01

    Database integrity constraints, understood as logical conditions that must hold for any database state, are not fully supported by current database technology. It is typically up to the database designer and application programmer to enforce integrity via triggers or tests at the application level....... 2.~In concurrent database systems, besides the traditional correctness criterion, the execution schedule must ensure that the different transactions can overlap in time without destroying the consistency requirements tested by other, concurrent transactions....

  8. Micro-transactions for concurrent data structures

    DEFF Research Database (Denmark)

    Meawad, Fadi; Iyer, Karthik; Schoeberl, Martin

    2013-01-01

    implementation of transactional memory that we call micro-transactions. In particular, we argue that hardware support for micro-transactions allows us to efficiently implement certain data structures. Those data structures are difficult to realize with the atomic operations provided by stock hardware and provide......, atomic instructions, and micro-transactions. Our results suggest that transactional memory is an interesting alternative to traditional concurrency control mechanisms....

  9. Managing business networks and buyer-supplier relationships. How information obtained from the business network affects trust, transaction specific investments, collaboration and performance in the Dutch Potted Plant and Flower Industry

    NARCIS (Netherlands)

    Claro, D.P.

    2004-01-01

    Managing networks and buyer-supplier relationships " attempt to provide scientific sound discussion for problems faced in business linkages. Business networks, supply chains and buyer-supplier relationships all refer to business linkages, from a web of connected relationships to a dyadic

  10. Design of a Multiobjective Reverse Logistics Network Considering the Cost and Service Level

    Directory of Open Access Journals (Sweden)

    Shuang Li

    2012-01-01

    Full Text Available Reverse logistics, which is induced by various forms of used products and materials, has received growing attention throughout this decade. In a highly competitive environment, the service level is an important criterion for reverse logistics network design. However, most previous studies about product returns only focused on the total cost of the reverse logistics and neglected the service level. To help a manufacturer of electronic products provide quality postsale repair service for their consumer, this paper proposes a multiobjective reverse logistics network optimisation model that considers the objectives of the cost, the total tardiness of the cycle time, and the coverage of customer zones. The Nondominated Sorting Genetic Algorithm II (NSGA-II is employed for solving this multiobjective optimisation model. To evaluate the performance of NSGA-II, a genetic algorithm based on weighted sum approach and Multiobjective Simulated Annealing (MOSA are also applied. The performance of these three heuristic algorithms is compared using numerical examples. The computational results show that NSGA-II outperforms MOSA and the genetic algorithm based on weighted sum approach. Furthermore, the key parameters of the model are tested, and some conclusions are drawn.

  11. A New European COST Network 'NORM4Building' (TU1301) for the Reuse of NORM Containing Residues in Building Materials

    International Nuclear Information System (INIS)

    Schroeyers, W.; Schreurs, S.

    2014-01-01

    The new COST action was initiated on the 1st of January 2014 and runs for four years. COST is supported by the EU RTD Framework Program. In the presentation more information on how to participate in the network will be provided. In the presentation the new approach and new initiatives of the NORM4BUILDING network, that has its first meeting here in the DEAD SEA Hotel on the 12-13/02/2014, will be introduced. The NORM4Building materials network will be an open network of researchers. An Advisory Board consisting mainly from NORM processing and construction industries and relevant associations and regulators are invited to work in collaboration with the scientists that will populate the various working groups and the management committee of the new COST action

  12. Walking- and cycling track networks in Norwegian cities : cost-benefit analyses including health effects and external costs of road traffic : summary

    Science.gov (United States)

    2002-04-01

    Cost- benefit analyses of walking- and cycling track net-works in three Norwegian cities are presented in this study. A project group working with a National Cycling Strategy in Norway initialised the study. Motivation for starting the study is the P...

  13. Routing of radioactive shipments in networks with time-varying costs and curfews

    Energy Technology Data Exchange (ETDEWEB)

    Bowler, L.A.; Mahmassani, H.S. [Univ. of Texas, Austin, TX (United States). Dept. of Civil Engineering

    1998-09-01

    This research examines routing of radioactive shipments in highway networks with time-dependent travel times and population densities. A time-dependent least-cost path (TDLCP) algorithm that uses a label-correcting approach is adapted to include curfews and waiting at nodes. A method is developed to estimate time-dependent population densities, which are required to estimate risk associated with the use of a particular highway link at a particular time. The TDLCP algorithm is implemented for example networks and used to examine policy questions related to radioactive shipments. It is observed that when only Interstate highway facilities are used to transport these materials, a shipment must go through many cities and has difficulty avoiding all of them during their rush hour periods. Decreases in risk, increased departure time flexibility, and modest increases in travel times are observed when primary and/or secondary roads are included in the network. Based on the results of the example implementation, the suitability of the TDLCP algorithm for strategic nuclear material and general radioactive material shipments is demonstrated.

  14. Routing of radioactive shipments in networks with time-varying costs and curfews

    International Nuclear Information System (INIS)

    Bowler, L.A.; Mahmassani, H.S.

    1998-09-01

    This research examines routing of radioactive shipments in highway networks with time-dependent travel times and population densities. A time-dependent least-cost path (TDLCP) algorithm that uses a label-correcting approach is adapted to include curfews and waiting at nodes. A method is developed to estimate time-dependent population densities, which are required to estimate risk associated with the use of a particular highway link at a particular time. The TDLCP algorithm is implemented for example networks and used to examine policy questions related to radioactive shipments. It is observed that when only Interstate highway facilities are used to transport these materials, a shipment must go through many cities and has difficulty avoiding all of them during their rush hour periods. Decreases in risk, increased departure time flexibility, and modest increases in travel times are observed when primary and/or secondary roads are included in the network. Based on the results of the example implementation, the suitability of the TDLCP algorithm for strategic nuclear material and general radioactive material shipments is demonstrated

  15. Network for development of electroporation-based technologies and treatments: COST TD1104.

    Science.gov (United States)

    Miklavčič, Damijan

    2012-10-01

    Exposure of biological cells to a sufficiently strong external electric field results in increased permeability of cell membranes, referred to as "electroporation." Since all types of cells (animal, plant and microorganism) can be effectively electroporated, electroporation is considered to be a universal method and a platform technology. Electroporation has become a widely used technology applicable to, e.g., cancer treatment, gene transfection, food and biomass processing and microbial inactivation. However, despite significant progress in electroporation-based applications, there is a lack of coordination and interdisciplinary exchange of knowledge between researchers from different scientific domains. Thus, critical mass for new major breakthroughs is missing. This is why we decided to establish cooperation between research groups working in different fields of electroporation. Cooperation in Science and Technology (COST), which funds networking and capacity-building activities, presents a perfect framework for such scientific cooperation. This COST action aims at (1) providing necessary steps toward EU cooperation of science and technology to foster basic understanding of electroporation; (2) improving communication between research groups, resulting in streamlining European research and development activities; and (3) enabling development of new and further development of existing electroporation-based applications by integrating multidisciplinary research teams, as well as providing comprehensive training for early-stage researchers. Results of this COST action will provide multiple societal, scientific and technological benefits from improving existing electroporation-based applications to adding new ones in the fields of medicine, biotechnology and environmental preservation.

  16. Two-Stage Optimal Scheduling of Electric Vehicle Charging based on Transactive Control

    DEFF Research Database (Denmark)

    Liu, Zhaoxi; Wu, Qiuwei; Ma, Kang

    2018-01-01

    In this paper, a two-stage optimal charging scheme based on transactive control is proposed for the aggregator to manage day-ahead electricity procurement and real-time EV charging management in order to minimize its total operating cost. The day-ahead electricity procurement considers both the day......-ahead energy cost and expected real-time operation cost. In the real-time charging management, the cost of employing the charging flexibility from the EV owners is explicitly modelled. The aggregator uses a transactive market to manage the real-time charging demand to provide the regulating power. A model...... predictive control (MPC) based method is proposed for the aggregator to clear the transactive market. The realtime charging decisions of the EVs are determined by the clearing of the proposed transactive market according to the realtime requests and preferences of the EV owners. As such, the aggregators...

  17. How to Use EMTS to Report Transactions for Fuel Programs

    Science.gov (United States)

    Reporting instructions for parties who transact Renewable Identification Numbers (RINs) and must enter transaction information in the EPA Moderated Transaction System (EMTS) within five (5) business days.

  18. Comparing electricity distribution network revenues and costs in New South Wales, Great Britain and Victoria

    International Nuclear Information System (INIS)

    Mountain, Bruce; Littlechild, Stephen

    2010-01-01

    A decade ago, electricity distribution network revenues per customer in New South Wales (NSW) were twice those in Great Britain (GB). Recent price controls imply that by 2014 they will be nearly four times as high. This paper examines possible reasons for this. The main reason does not seem to be geography, operating environment or industry structure. GB and Victoria have managed to accommodate increasing demand at broadly constant or even declining costs and revenues while delivering higher quality of service, while NSW has not. The regulatory framework and the practice of the regulatory body within that framework seem relevant. Australian regulators have not used benchmarking techniques as the GB regulator has. Perhaps the most important explanatory factor is private ownership in GB and Victoria compared to state ownership in NSW. This could also impact on the nature and effectiveness of regulation. (author)

  19. Transactional Sex among Noninjecting Illicit Drug Users: Implications for HIV Transmission.

    Science.gov (United States)

    Guimarães, Rafael Alves; Rodovalho, Aurélio Goulart; Fernandes, Inaina Lara; Silva, Graciele Cristina; de Felipe, Rodrigo Lopes; Vera, Ivânia; Gregório, Valéria Duarte; Lucchese, Roselma

    2016-01-01

    Noninjecting illicit drug users (NIDUs) present high risk for HIV infection, due especially to transactional sex. This study aimed to estimate the prevalence and risk factors for transactional sex among NIDUs in the Southwest region of Goiás State, Central Brazil. The prevalence of self-reported transactional sex was 22.8%. Prevalence in women and men was 52.7% and 16.8%, respectively, a significant difference (p drugs, and history of sexual violence were risk factors for transactional sex in women. A high prevalence of transactional sex was observed among NIDUs. This risk behavior may contribute to the high rates of HIV among this population and their social networks and in the general population.

  20. COST Action ES1401 TIDES: a European network on TIme DEpendent Seismology

    Science.gov (United States)

    Morelli, Andrea

    2016-04-01

    Using the full-length records of seismic events and background ambient noise, today seismology is going beyond still-life snapshots of the interior of the Earth, and look into time-dependent changes of its properties. Data availability has grown dramatically with the expansion of seismographic networks and data centers, so as to enable much more detailed and accurate analyses. COST Action ES1401 TIDES (TIme DEpendent Seismology; http://tides-cost.eu) aims at structuring the EU seismological community to enable development of data-intensive, time-dependent techniques for monitoring Earth active processes (e.g., earthquakes, volcanic eruptions, landslides, glacial earthquakes) as well as oil/gas reservoirs. The main structure of TIDES is organised around working groups on: Workflow integration of data and computing resources; Seismic interferometry and ambient noise; Forward problems and High-performance computing applications; Seismic tomography, full waveform inversion and uncertainties; Applications in the natural environment and industry. TIDES is an open network of European laboratories with complementary skills, and is organising a series of events - workshops and advanced training schools - as well as supporting short-duration scientific stays. The first advanced training school was held in Bertinoro (Italy) on June 2015, with attendance of about 100 participants from 20 European countries, was devoted to how to manage and model seismic data with modern tools. The next school, devoted to ambient noise, will be held in 2016 Portugal: the program will be announced at the time of this conference. TIDES will strengthen Europe's role in a critical field for natural hazards and natural resource management.