WorldWideScience

Sample records for price distributor address

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

    Directory of Open Access Journals (Sweden)

    Zhongwei Jake Zhang

    2014-12-01

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

  2. Research Note Consumer Addressability and Customized Pricing

    OpenAIRE

    Yuxin Chen; Ganesh Iyer

    2002-01-01

    The increasing availability of customer information is giving many firms the ability to reach and customize price and other marketing efforts to the tastes of the individual consumer. This ability is labeled as consumer addressability. Consumer addressability through sophisticated databases is particularly important for direct-marketing firms, catalog retailers such as L.L Bean and Land's End, credit card-issuing banks, and firms in the long-distance telephone market. We examine the strategic...

  3. Hydraulic distributor

    Energy Technology Data Exchange (ETDEWEB)

    Starichnev, V.V.; Bromfen, P.M.; Gruzdev, G.D.; Kuzshinov, V.M.; Miterev, V.A.; Ragutskiy, A.M.

    1981-01-01

    The proposed distributor contains a housing with flat seat, spring-loaded gate valve with push rod installed in it, distributor bushing installed on the flat seat, bushing and spring-loaded cut-off valve with axial channel connected to the above-bushing cavity and the overflow main. In order to improve reliability by guaranteeing automatic discharge of the above-bushing cavity, the spring-loaded cut-off valve is equipped with a release valve whose saddle is made in the axial channel of the cut-off valve, and the conical cut-off element is on the push rod.

  4. Addressing Pricing Power in Integrated Delivery: The Limits of Antitrust.

    Science.gov (United States)

    Berenson, Robert

    2015-08-01

    Prices are the major driver of why the United States spends so much more on health care than other countries do. The pricing power that hospitals have garnered recently has resulted from consolidated delivery systems and concentrated markets, leading to enhanced negotiating leverage. But consolidation may be the wrong frame for viewing the problem of high and highly variable prices; many "must-have" hospitals achieve their pricing power from sources other than consolidation, for example, reputation. Further, the frame of consolidation leads to unrealistic expectations for what antitrust's role in addressing pricing power should be, especially because in the wake of two periods of merger "manias" and "frenzies" many markets already lack effective competition. It is particularly challenging for antitrust to address extant monopolies lawfully attained. New payment and delivery models being pioneered in Medicare, especially those built around accountable care organizations (ACOs), offer an opportunity to reduce pricing power, but only if they are implemented with a clear eye on the impact on prices in commercial insurance markets. This article proposes approaches that public and private payers should consider to complement the role of antitrust to assure that ACOs will actually help control costs in commercial markets as well as in Medicare and Medicaid. Copyright © 2015 by Duke University Press.

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

    Directory of Open Access Journals (Sweden)

    Giuca Simona-Mihaela

    2014-07-01

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

  6. Addresses

    Data.gov (United States)

    Town of Chapel Hill, North Carolina — Point features representing locations of all street addresses in Orange County, NC including Chapel Hill, NC. Data maintained by Orange County, the Town of Chapel...

  7. Gas distributor for fluidized bed coal gasifier

    Science.gov (United States)

    Worley, Arthur C.; Zboray, James A.

    1980-01-01

    A gas distributor for distributing high temperature reaction gases to a fluidized bed of coal particles in a coal gasification process. The distributor includes a pipe with a refractory reinforced lining and a plurality of openings in the lining through which gas is fed into the bed. These feed openings have an expanding tapered shape in the downstream or exhaust direction which aids in reducing the velocity of the gas jets as they enter the bed.

  8. From policy to practice: Addressing snack quality, consumption, and price in afterschool programs

    Science.gov (United States)

    Beets, Michael W.; Tilley, Falon; Weaver, Robert G.; Turner-McGrievy, Brie; Moore, Justin B.; Webster, Collin

    2013-01-01

    Objective To evaluate a community partnership between afterschool programs (ASPs) and grocery store to provide discounted pricing on snacks to meet the National Afterschool Association Healthy Eating Standards that call for serving a fruit/vegetable (FV) daily, while eliminating sugar-based foods/beverages. Methods A single-group, pre- with multiple post-test design (Spring 2011–2013) in four large-scale ASPs serving 500 children/day was used along with direct observation of snacks served, consumed, and cost. Results At baseline FV, sugar-sweetened beverages (SSB), and desserts were served 0.1±0.5, 1.7±2.0, and 2.0±1.4 days/wk. By Spring 2013, FV increased to 5.0±0.0 days/wk, while SSB and desserts were eliminated. Eighty-four percent of children consumed the fruit; 59% consumed the vegetables. Cost associated with purchasing snacks resulted in a $2,000–$3,000 savings over a standard 180day school year. Conclusions and Implications This partnership can serve as a model for successfully meeting nutrition policies established for ASP snacks. PMID:24268299

  9. From policy to practice: addressing snack quality, consumption, and price in after-school programs.

    Science.gov (United States)

    Beets, Michael W; Tilley, Falon; Weaver, Robert G; Turner-McGrievy, Gabrielle; Moore, Justin B; Webster, Collin

    2014-01-01

    To evaluate a community partnership between after-school programs (ASPs) and grocery stores to provide discounted pricing on snacks to meet the National Afterschool Association Healthy Eating Standards that call for serving a fruit or vegetable (FV) daily while eliminating sugar-based foods and beverages. A single-group, pretest with multiple posttest design (spring, 2011-2013) in 4 large-scale ASPs serving 500 children/d was used, along with direct observation of snacks served, consumed, and cost. At baseline, FV, sugar-sweetened beverages, and desserts were served 0.1 ± 0.5, 1.7 ± 2.0, and 2.0 ± 1.4 d/wk. By spring, 2013, FV increased to 5.0 ± 0.0 d/wk, whereas sugar-sweetened beverages and desserts were eliminated. A total of 84% of children consumed the fruit; 59% consumed the vegetables. Cost associated with purchasing snacks resulted in a $2,000-$3,000 savings over a standard 180-day school year. This partnership can serve as a model for successfully meeting nutrition policies established for ASP snacks. Copyright © 2014 Society for Nutrition Education and Behavior. All rights reserved.

  10. Price

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

    The price terms in wheeling contracts very substantially, reflecting the differing conditions affecting the parties contracting for the service. These terms differ in the manner in which rates are calculated, the formulas used, and the philosophy underlying the accord. For example, and EEI study found that firm wheeling rates ranged from 20 cents to $1.612 per kilowatt per month. Nonfirm rates ranged from .15 mills to 5.25 mills per kilowatt-hour. The focus in this chapter is on cost-based rates, reflecting the fact that the vast majority of existing contracts are based on rate designs reflecting embedded costs. This situation may change in the future, but, for now, this fact can't be ignored

  11. Staff report on Ontario gas distributor service quality regulation

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2005-07-29

    This report provides the basis for consultation regarding a framework for building principles and minimum standards regarding service quality measures for gas distributors. It begins with a general overview of current concerns expressed by Ontario natural gas consumers regarding service quality. Customer complaints logged with the Ontario Energy Board between 2003 and 2004 include common issues such as slow telephone response time, failure to obtain regular meter reads, inaccurate billing, long payment processing times, long reconnection times, long new connection times, and slow response to emergencies. This report also presents the historical experience in Ontario's energy sector regarding performance monitoring of services within an incentive based rate making framework for electricity and gas distributors. The Ontario Energy Board's Natural Gas Forum report reveals that a service quality framework would ensure that cost saving initiatives are not implemented at the expense of customer service or safe operation of the distribution system. Although the Board intends to implement a service quality framework, it will not include direct financial incentives. Rather, it will monitor service quality performance and utilities will be subject to a compliance process. A brief summary was also included of service quality regulations in the electricity sector and in other jurisdictions such as Australia, the United Kingdom, Pennsylvania, and Alberta. A list of issues that remain to be addressed before implementing a framework in Ontario was then presented. 2 appendices.

  12. Options to address concerns regarding EU ETS induced increases in power prices and generators' profits. The case of carbon cost pass-through in Germany and the Netherlands

    International Nuclear Information System (INIS)

    Sijm, J.P.M.; Hers, J.S.; Wetzelaer, B.J.H.W.

    2008-02-01

    Power prices in EU countries have increased significantly since the European Emissions Trading Scheme (EU ETS) became effective on 1 January 2005. This suggests that these increases in power prices are due to this scheme, in particular the pass-through of the costs of EU allowances (EUAs) to cover the CO2 emissions of eligible installations. In all sectors, however - including the power sector - eligible installations have usually received almost all of their needed allowances for free during the first phase of the EU ETS (2005-07). In several EU countries, the coincidence of the increases in power prices and the implementation of the EU ETS has raised questions, and sometimes fierce political debate, on whether power producers have indeed passed through the costs of freely allocated CO2 allowances to electricity prices, and to what extent the increase in these prices can be attributed to this pass-through or to other factors. In addition, it has raised discussions on whether - and to what extent - the supposed passing through of these costs has led to additional profits for power producers, that is, the so-called 'windfall profits' induced by the EU ETS. Finally, the supposed ETSinduced increases in power prices and generators' profits has raised concerns affecting the legitimacy of the present EU ETS, including concerns regarding its impact on the international competitiveness of some powerintensive industries, the purchasing power of electricity end-users such as small households or, more generally, the distribution of social welfare among power producers and consumers. As a result, in several countries policy makers and stakeholders have suggested a variety of options to address these concerns, including changing the emissions trading allocation system, taxing windfall profits or controlling market prices of EU carbon allowances, electricity or both. Against this background, the objectives of this chapter include: (a) To analyse empirically the trends in power

  13. Who is behind the stocking of energy-dense foods and beverages in small stores? The importance of food and beverage distributors.

    Science.gov (United States)

    Ayala, Guadalupe X; D'Angelo, Heather; Gittelsohn, Joel; Horton, Lucy; Ribisl, Kurt; Sindberg, Lesley Schmidt; Olson, Christina; Kharmats, Anna; Laska, Melissa N

    2017-12-01

    The present study examined food and beverage distributors' sourcing, placement and promotion of obesogenic (energy-dense, nutrient-poor) product categories from the perspective of small food store owners/managers. The obesogenic product categories of interest were savoury snacks, sugary beverages, sweet snacks, confectionery and frozen treats. Specifically, we examined how frequently distributors sourced these products, and the types of agreements and expectations they had for their placement and promotion. Differences were explored by store size and ethnicity. Fresh produce was used as a comparison when examining differences in frequency of sourcing only, with implications for healthy food access. Survey research involving in-person interviews. Four urban areas in the USA: Baltimore, MD; Durham, NC; Minneapolis/St. Paul, MN; and San Diego, CA. Seventy-two small food store owners/managers, 65 % consent rate. Most distributors sourced obesogenic products weekly. Agreements to place products were predominantly informal (e.g. handshake) with sweet snack, confectionery and frozen treat distributors, and formal (e.g. contract) with savoury snack and sugary beverage distributors. Free-standing displays were the most common incentive provided by distributors and they expected some control over their placement and pricing. Free/discounted products and signage were also common incentives but slotting fees were not. Smaller stores and ethnic stores were less likely to receive various incentives, but among sweet snack distributors, they were more likely to control the price in ethnic v. non-ethnic stores. Obesogenic products are ubiquitous. Influencing what is made available to consumers in the retail food environment needs to consider the distributor.

  14. DISTRIBUTION OF TWO-PHASE FLOW IN A DISTRIBUTOR

    Directory of Open Access Journals (Sweden)

    AZRIDJAL AZIZ

    2012-02-01

    Full Text Available The flow configuration and distribution behavior of two-phase flow in a distributor made of acrylic resin have been investigated experimentally. In this study, air and water were used as two-phase flow working fluids. The distributor consists of one inlet and two outlets, which are set as upper and lower, respectively. The flow visualization at the distributor was made by using a high–speed camera. The flow rates of air and water flowing out from the upper and lower outlet branches were measured. Effects of inclination angle of the distributor were investigated. By changing the inclination angle from vertical to horizontal, uneven distributions were also observed. The distribution of two-phase flow through distributor tends even flow distribution on the vertical position and tends uneven distribution on inclined and horizontal positions. It is shown that even distribution could be achieved at high superficial velocities of both air and water.

  15. Improved gas distributor for coating HTGR fuel particles

    International Nuclear Information System (INIS)

    Lackey, W.J.; Stinton, D.P.; Sease, J.D.

    1977-01-01

    The important criteria to be considered in design of the gas distributor are: (1) The distributor should ideally spread or disperse the gas over the full area of the coating chamber to maximize the particle gas contact area and thereby increase both particle circulation and the percentage of the input gas that ends up as coating. (2) The gas should not heat up during its passage through the distributor. Otherwise the gas would partially decompose prematurely, causing excessive coating deposition within or on the distributor. (3) The distributor should be designed to minimize accidental drainage of particles from the furnace and blowover of particles into the effluent system. (4) The distributor should be capable of depositing both carbon and SiC coatings of high quality as regards to density, preferred orientation, permeability, defective fraction, and other product attributes. (5) The distributor should be amenable to use with large particle charges and short turnaround times and be simple, inexpensive, and reliable. We have devised a simple distributor that incorporates the five criteria listed above. The new design is termed a blind-hole frit. All the gas passes through the thinned blind-hole regions, and thus the gas velocity is considerably higher than for a flat frit of uniform thickness. Because of its high velocity, the gas does not have time to reach a high enough temperature to cause deposition within the frit. Also most of the resistance to gas flow is provided by the porous distributor and not by the particle bed; therefore, localized variations of the quantity of particles above any particular gas inlet do not significantly alter the flow rate through that inlet

  16. Communication About the Selecta hot and cold drinks distributor

    CERN Document Server

    2007-01-01

    The contract for the management of the Selecta hot and cold drinks distributors installed on the CERN site will expire on 19 December 2007. As a result, the Selecta credit-keys will no longer be active from this date onwards. Notices will be posted by Selecta on each device showing the date of its removal. As from 3 December 2007, Novae will gradually start installing new distributors. Credit-key top-up points will be installed in the following three locations: Building 513: keys may be bought from the distributor installed Building 60 next to the newspaper kiosk: keys on sale in the kiosk Building 33, on the ground floor: keys may be bought from the distributor installed. All the necessary operating instructions and tips will be indicated clearly on each machine. Restaurant Supervisory Committee

  17. Communication About the Selecta hot and cold drinks distributor

    CERN Multimedia

    2007-01-01

    The contract for the management of the Selecta hot and cold drinks distributors installed on the CERN site will expire on 19 December 2007. As a result, the Selecta credit-keys will no longer be active from this date onwards. Notices will be posted by Selecta on each device showing the date of its removal. As from 3 December 2007, Novae will gradually start installing new distributors. Credit-key top-up points will be installed in the following three locations: -\tBuilding 513: keys may be bought from the distributor installed -\tBuilding 60 next to the newspaper kiosk: keys on sale in the kiosk - Building 33, on the ground floor: keys may be bought from the distributor installed. All the necessary operating instructions and tips will be indicated clearly on each machine. Restaurant Supervisory Committee

  18. Communication About the Selecta hot and cold drinks distributor

    CERN Document Server

    FI Department

    2007-01-01

    The contract for the management of the Selecta hot and cold drinks distributors installed on the CERN site will expire on 19 December 2007. As a result, the Selecta credit-keys will no longer be active from this date onwards. Notices will be posted by Selecta on each device showing the date of its removal. As from 3 December 2007, Novae will gradually start installing new distributors. Credit-key top-up points will be installed in the following three locations: Building 513: keys may be bought from the distributor installed; Building 60 next to the newspaper kiosk: keys on sale in the kiosk; Building 33, on the ground floor: keys may be bought from the distributor installed. All the necessary operating instructions and tips will be indicated clearly on each machine. Restaurant Supervisory Committee

  19. Characterization of Hall effect thruster propellant distributors with flame visualization

    Science.gov (United States)

    Langendorf, S.; Walker, M. L. R.

    2013-01-01

    A novel method for the characterization and qualification of Hall effect thruster propellant distributors is presented. A quantitative measurement of the azimuthal number density uniformity, a metric which impacts propellant utilization, is obtained from photographs of a premixed flame anchored on the exit plane of the propellant distributor. The technique is demonstrated for three propellant distributors using a propane-air mixture at reservoir pressure of 40 psi (gauge) (377 kPa) exhausting to atmosphere, with volumetric flow rates ranging from 15-145 cfh (7.2-68 l/min) with equivalence ratios from 1.2 to 2.1. The visualization is compared with in-vacuum pressure measurements 1 mm downstream of the distributor exit plane (chamber pressure held below 2.7 × 10-5 Torr-Xe at all flow rates). Both methods indicate a non-uniformity in line with the propellant inlet, supporting the validity of the technique of flow visualization with flame luminosity for propellant distributor characterization. The technique is applied to a propellant distributor with a manufacturing defect in a known location and is able to identify the defect and characterize its impact. The technique is also applied to a distributor with numerous small orifices at the exit plane and is able to resolve the resulting non-uniformity. Luminosity data are collected with a spatial resolution of 48.2-76.1 μm (pixel width). The azimuthal uniformity is characterized in the form of standard deviation of azimuthal luminosities, normalized by the mean azimuthal luminosity. The distributors investigated achieve standard deviations of 0.346 ± 0.0212, 0.108 ± 0.0178, and 0.708 ± 0.0230 mean-normalized luminosity units respectively, where a value of 0 corresponds to perfect uniformity and a value of 1 represents a standard deviation equivalent to the mean.

  20. Inefficient charging for delivered gas by local gas distributors

    Directory of Open Access Journals (Sweden)

    Siniša Bikić

    2005-10-01

    Full Text Available In this region, especially in Serbia, common belief is that local distributors of gas used by households don’t charge for gas properly. It is suspected that there are two sources for improper ways of gas charging. Local distributors charge for delivered gas only, according to flow rat but not according to gas quality. It is usual that local distributors deliver gas of different quality than one signed in contract. In this work will be considered only one of aspects inefficient charging for delivered gas by local gas distributors, which is connected to variable atmospheric pressure. There is doubt, that local distributors make mistakes during accounting for delivered gas to costumers in regard atmospheric pressure. At the beginning of every investigation, problem has to be located and recognized. Authors are going to collect as much as possible available data, to elaborate and analyze data by scientific methods and to represent conclusions. So, the aim of this work is to diagnose current state and to approve or disapprove above mentioned suspicions. In our region this theme is very interesting, both because of energy efficiency and air pollution control. In this way both consumer and distributor will know, how mush energy they have really spent.

  1. Computational Studies on the Performance of Flow Distributor in Tank

    International Nuclear Information System (INIS)

    Shin, Soo Jai; Kim, Young In; Ryu, Seungyeob; Bae, Youngmin

    2014-01-01

    Core make-up tank (CMT) is full of borated water and provides makeup and boration to the reactor coolant system (RCS) for early stage of loss of coolant accident (LOCA) and non-LOCA. The top and bottom of CMT are connected to the RCS through the pressure balance line (PBL) and the safety injection line (SIL), respectively. Each PBL is normally open to maintain pressure of the CMT at RCS, and this arrangement enables the CMT to inject water to the RCS by gravity when the isolation valves of SIL are open. During CMT injection into the Reactor, the condensation and thermal stratification are observed in CMT and the rapid condensation disturbed the injection operation. The optimal design of the flow distributor is very important to ensure structural integrity of the reactor system and their safe operation during some transient or accident conditions. In the present study, we numerically investigated the performance of flow distributor in tank with different shape factor such as the total number of the holes, the pitch-to-hole diameter ratios (p/d), the diameter of the hole and the area ratios. These data will contribute to the design the flow distributor. In the present study, the model of the flow distributor in tank is simulated using the commercial CFD software, Fluent 13.0 with varying the different shape factor of the flow distributor such as the total number of the holes, the diameter of the holes and the area ratio. As the diameter of the hole is smaller, the velocity difference between holes, which is located at upper position and lower position of the flow distributor, also decreases. For larger area ratio, the velocity of the holes is slower. When the diameter of the hole is large enough for the velocity difference between holes to be large, however, the velocity of the holes is not in inverse proportional to the area ratio

  2. Computational Studies on the Performance of Flow Distributor in Tank

    Energy Technology Data Exchange (ETDEWEB)

    Shin, Soo Jai; Kim, Young In; Ryu, Seungyeob; Bae, Youngmin [Korea Atomic Energy Research Institute, Daejeon (Korea, Republic of)

    2014-05-15

    Core make-up tank (CMT) is full of borated water and provides makeup and boration to the reactor coolant system (RCS) for early stage of loss of coolant accident (LOCA) and non-LOCA. The top and bottom of CMT are connected to the RCS through the pressure balance line (PBL) and the safety injection line (SIL), respectively. Each PBL is normally open to maintain pressure of the CMT at RCS, and this arrangement enables the CMT to inject water to the RCS by gravity when the isolation valves of SIL are open. During CMT injection into the Reactor, the condensation and thermal stratification are observed in CMT and the rapid condensation disturbed the injection operation. The optimal design of the flow distributor is very important to ensure structural integrity of the reactor system and their safe operation during some transient or accident conditions. In the present study, we numerically investigated the performance of flow distributor in tank with different shape factor such as the total number of the holes, the pitch-to-hole diameter ratios (p/d), the diameter of the hole and the area ratios. These data will contribute to the design the flow distributor. In the present study, the model of the flow distributor in tank is simulated using the commercial CFD software, Fluent 13.0 with varying the different shape factor of the flow distributor such as the total number of the holes, the diameter of the holes and the area ratio. As the diameter of the hole is smaller, the velocity difference between holes, which is located at upper position and lower position of the flow distributor, also decreases. For larger area ratio, the velocity of the holes is slower. When the diameter of the hole is large enough for the velocity difference between holes to be large, however, the velocity of the holes is not in inverse proportional to the area ratio.

  3. Fluid-solid contact vessel having fluid distributors therein

    Science.gov (United States)

    Jones, Jr., John B.

    1980-09-09

    Rectangularly-shaped fluid distributors for large diameter, vertical vessels include reinforcers for high heat operation, vertical sides with gas distributing orifices and overhanging, sloped roofs. Devices are provided for cleaning the orifices from a buildup of solid deposits resulting from the reactions in the vessel.

  4. 9 CFR 112.4 - Subsidiaries, divisions, distributors, and permittees.

    Science.gov (United States)

    2010-01-01

    ... establishment where the product is produced. Such labels shall comply with requirements for their review... biological product imported for sale and distribution in accordance with § 104.5 in a manner which could be... 9 Animals and Animal Products 1 2010-01-01 2010-01-01 false Subsidiaries, divisions, distributors...

  5. 75 FR 47318 - GE Asset Management Incorporated and GE Investment Distributors, Inc.; Notice of Application and...

    Science.gov (United States)

    2010-08-05

    ...] GE Asset Management Incorporated and GE Investment Distributors, Inc.; Notice of Application and.... Applicants: GE Asset Management Incorporated (``GEAM'') and GE Investment Distributors, Inc. (``GEID... of Investment Management, Office of Investment Company Regulation). SUPPLEMENTARY INFORMATION: The...

  6. Device for underwater use in nuclear power stations with an electrical distributor

    International Nuclear Information System (INIS)

    1988-01-01

    The electrical connections for the different equipments used underwater are taken to a distributor via waterproof connectors. This distributor is situated in the head of a bell open at the bottom. When the bell is lowered into the water, water will penetrate into it, but only to a certain level, so that the water level inside the bell does not reach the distributor. This air cushion therefore protects the connections on the distributor against water entering them. (DG) [de

  7. PRICE AND PRICING STRATEGIES

    OpenAIRE

    SUCIU Titus

    2013-01-01

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

  8. A liquid filled light distributor and a method of use

    DEFF Research Database (Denmark)

    2013-01-01

    the proximal end is arranged to be in optical communication with a light source and wherein the refractive index of the tube wall is n1 and the refractive index of the fluid is n2 and n1/n2 light from the light source travels along the longitudinal direction of the tubular body and that a part......The present invention relates to liquid filled light distributor comprising an elongated tubular body with a tube wall defining an in inner lumen filled with a liquid, said tubular body having -a proximal end closed by first closing means -a distal end closed by second closing means. Wherein...... of the light is emitted through the tube wall along at least a part of the tubular body. Further a method of use for the liquid filled light distributor is provided....

  9. Prices and Price Setting

    NARCIS (Netherlands)

    R.P. Faber (Riemer)

    2010-01-01

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

  10. Relating price strategies and price-setting practices

    NARCIS (Netherlands)

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

    2013-01-01

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

  11. Game Theory Study on Distributors' Alliance to Gain Competitive Advantage in Marketing Channel

    Institute of Scientific and Technical Information of China (English)

    ZHAO Shi-ying; CHEN Jie; WANG Fang-hua

    2005-01-01

    Using the Cournot Game Model, this paper has analyzed the motivation of the distributors' alliance to gain competitive advantage in marketing channel. At first, this paper separately analyzed the advantage of alliance in the situation of oneshort game and infinitely repeated game, then, based on the analysis of distributors' betrayal of the alliance under infinitely repeated game, the conditions to maintain the distributors alliance are put forward and discussed.

  12. 40 CFR 82.118 - Compliance by wholesalers, distributors and retailers.

    Science.gov (United States)

    2010-07-01

    ... container is reliably and accurately complying with the requirements of this subpart. (c) Contractual obligations. A wholesaler, distributor or retailer's contractual relationship with its supplier under which...

  13. The Ground Rules for Effective OBAs: Principles for Addressing Carbon-Pricing Competitiveness Concerns through the Use of Output-Based Allocations

    Directory of Open Access Journals (Sweden)

    Sarah Dobson

    2017-06-01

    Full Text Available The federal government’s decision to impose a minimum national price on carbon emissions has the potential to make certain businesses in the country less competitive. Specifically, there are emissions-intensive and trade-exposed industries across Canada that compete against producers from other jurisdictions where governments do not put a price on carbon. For these industries, the obligation to pay a carbon price creates a competitive disadvantage. Specifically, these businesses will face higher costs and may encounter a loss of market share to international competitors from jurisdictions that lack the same emission-control measures. That not only hurts Canadian businesses, it could also negate any emissions reductions that carbon pricing in Canada achieves on a global scale. The federal government has opted to protect such emissions-intensive, tradeexposed businesses using subsidies called output-based allocations (OBAs. This is the same system that Alberta is introducing through its forthcoming Carbon Competiveness Regulation. It also shares certain similarities with cap-and-trade programs, such as those in Ontario and Quebec, which provide free allocations of emissions permits to certain firms. OBAs are a desirable complementary policy to a carbon price as they maintain the incentive for producers to invest in production methods and facilities that are less emissions intensive. So while producers are still, nevertheless, subsidized to offset the tax burden of the carbon price, they will, under an OBA system, see greater benefits the more they work to reduce their emissions intensity. Still, to function most effectively and most efficiently, an OBA policy should follow certain key principles. The most critical principle in the design of an OBA policy is ensuring that OBAs are allocated to facilities independent of their individual emission levels, and allocated equally (on a per unit basis to facilities producing the same product. One of the

  14. A propane price spike nails users

    International Nuclear Information System (INIS)

    Milke, M.

    1997-01-01

    The increase in price for propane was discussed. In 1993, propane cost about 5 cents per litre; by December 1996, the price has risen to 27 cents wholesale, while retail prices for auto propane reached 40 cents per litre. As a result, farmers and fleet operators are considering switching to an alternative energy supply. The five factors which may have played a role in the propane price spike were described. These included a cold winter which lowered inventories, a Pemex gas plant in Mexico which had been damaged by fire, forcing Mexico to import natural gas and natural gas liquids from the USA, the failure of propane distributors to restock during the summer months in the hope of lower prices, and increased cost of competing fuels in the face of increased demand. It was noted that these factors are transitory, which could mean better prices this summer

  15. 16 CFR 503.3 - Name and place of business of manufacturer, packer, or distributor.

    Science.gov (United States)

    2010-01-01

    ... retains its separate corporate identity, is not the manufacturer of the consumer commodities manufactured... manufacturer, packer, or distributor. To clarify the identity of a manufacturer, packer, or distributor for the... by the addition of any substance which changes the identity of the bulk, ceases to be the...

  16. 21 CFR 701.12 - Name and place of business of manufacturer, packer, or distributor.

    Science.gov (United States)

    2010-04-01

    ... 21 Food and Drugs 7 2010-04-01 2010-04-01 false Name and place of business of manufacturer, packer, or distributor. 701.12 Section 701.12 Food and Drugs FOOD AND DRUG ADMINISTRATION, DEPARTMENT OF... business of manufacturer, packer, or distributor. (a) The label of a cosmetic in package form shall specify...

  17. 76 FR 20042 - Four Seasons Distributors, Inc.; Order Accepting Settlement Agreement and Terminating Proceeding

    Science.gov (United States)

    2011-04-11

    ... DEPARTMENT OF JUSTICE Drug Enforcement Administration [Docket No. 08-16] Four Seasons Distributors, Inc.; Order Accepting Settlement Agreement and Terminating Proceeding On October 31, 2007, the Deputy... Show Cause to Four Seasons Distributors, Inc. (Respondent), of Belleville, Illinois. The Show Cause...

  18. A comparison of the performance of male and female CBD distributors in Peru.

    Science.gov (United States)

    Foreit, J R; Garate, M R; Brazzoduro, A; Guillen, F; Herrera, M C; Suarez, F C

    1992-01-01

    This report presents the results of an operations research project to increase male involvement in family planning in Peru. Two community-based distribution (CBD) programs, PROFAMILIA of Lima and CENPROF of Trujillo, Peru, recruited male contraceptive distributors and compared their performance to that of female distributors recruited at the same time. Both programs found it harder to recruit men than women as distributors. Program supervisors, who were women, were less comfortable with men than with other women, even though there were no differences in distributor compliance with program norms. Male distributors were more likely to serve male clients and sell male methods (condoms), while female distributors were more likely to serve female clients and sell female methods (pills). Men sold as much or more total couple-years of protection than did women, and they recruited as many or more new acceptors. Gender was found to exert an impact on method mix independent of other distributor characteristics, such as age, education, marital status, and number of living children. The study suggests that family planning programs can influence method mix and client characteristics by recruiting men as CBD distributors.

  19. Pricing products: juxtaposing affordability with quality appeal.

    Science.gov (United States)

    1984-01-01

    Choosing appropriate product prices is 1 of the most crucial steps in creating an effective contraceptive social marketing (CSM) sales campaign. The Social Marketing Forum conducted an informal survey of social marketing project managers, international contractors, and marketing consultants to determine how CSM programs cope with pricing problems and ways to circumvent some obstacles. According to Diana Altman, a family planning consultant, low prices that make products available to needy individuals are more important than the program's self sufficiency, yet if prices are too low, consumers think the products were unusable in the US and thus were dumped on local markets. Other key factors include commercial competition, spiraling inflation rates, and problems with rising prices and retailer/distributor margins. A sampling of per capita gross national products indicates the poverty level of most CSM projects' target market. Consequently, CSM projects must set low pices, regardless of program operating costs. The goal often is to increase the demand and availability for contraceptives. The fact that social marketing products must pass through retail networks to reach consumers complicates the pricing equation. To deal with the problem, India's Nirodh program gives a 25% margin to distributors/wholesalers, compared to 6% offered on most other goods. Retailers also receive a 25% margin, more than double the commercial rate. Once prices are set, increases pose hazards. Local government approval often is a prerequisite and can require lengthy negotiations. Market studies remain a valuable approach to effective pricing, according to PNA's Mallamad and other research consultants. They cite such effective research strategies as test marketing products and asking consumers how prices affect buying habits. Further, CSM projects can jump over some pricing hurdles through creative marketing. An effective pricing strategy alone cannot produce a successful CSM program. Pricing

  20. Electrical equipment distributors assuming greater role as suppliers to electric utilities

    International Nuclear Information System (INIS)

    Anon.

    1990-01-01

    A survey was conducted of Canada's largest distributors of electrical equipment to the utility market. Summaries are presented of the views of the major respondents concerning market trends and future challenges. Distributors have emerged as a supply source to utilities over the past two decades. Before then, electric utilities did virtually all their business directly with the manufacturers and rarely with distributors. One reason for this situation was that direct dealing with manufacturers was perceived by the utilites as providing better access to technical advice. Distributors have grown significantly since then and many have their own expert technical staff and provide full support for their products. Various advantages for utilities in dealing with distributors are noted: ability to supply most needs relatively rapidly from stock, simplification of ordering, improved inventory management, and savings in brokerage and other costs associated with imported equipment

  1. Numerical studies on the performance of a flow distributor in tank

    Energy Technology Data Exchange (ETDEWEB)

    Shin, Soo Jai, E-mail: shinsoojai@kaeri.re.kr; Kim, Young In; Ryu, Seungyeob; Bae, Youngmin; Kim, Keung Koo [Korea Atomic Energy Research Institute, Daedeok-daero 989-111, Yuseong-gu, Daejeon 305-353 (Korea, Republic of)

    2015-03-10

    Flow distributors are generally observed in several nuclear power plants. During core make-up tank (CMT) injection into the reactor, the condensation and thermal stratification are observed in the CMT, and rapid condensation disturbs the injection operation. To reduce the condensation phenomena in the tank, CMT was equipped with a flow distributor. The optimal design of the flow distributor is very important to ensure the structural integrity the CMT and its safe operation during certain transient or accident conditions. In the present study, we numerically investigated the performance of a flow distributor in tank with different shape factors such as the total number of holes, pitch-to-hole diameter ratios, diameter of the hole, and the area ratios. These data will contribute to a design of the flow distributor.

  2. Numerical studies on the performance of a flow distributor in tank

    International Nuclear Information System (INIS)

    Shin, Soo Jai; Kim, Young In; Ryu, Seungyeob; Bae, Youngmin; Kim, Keung Koo

    2015-01-01

    Flow distributors are generally observed in several nuclear power plants. During core make-up tank (CMT) injection into the reactor, the condensation and thermal stratification are observed in the CMT, and rapid condensation disturbs the injection operation. To reduce the condensation phenomena in the tank, CMT was equipped with a flow distributor. The optimal design of the flow distributor is very important to ensure the structural integrity the CMT and its safe operation during certain transient or accident conditions. In the present study, we numerically investigated the performance of a flow distributor in tank with different shape factors such as the total number of holes, pitch-to-hole diameter ratios, diameter of the hole, and the area ratios. These data will contribute to a design of the flow distributor

  3. Pricing regulations in Great Britain

    International Nuclear Information System (INIS)

    Cicoletti, G.

    1993-01-01

    This paper briefly describes the structure and functions of Great Britain's essential electric power regulatory authority institutionalized by the 1989 British Electricity Act, i.e., the Office of Electricity Regulation, OFFER, and the responsibilities and tasks of the head of OFFER -the Director General of Electricity Supply (DGES). In particular, with regard to the latter, the paper describes how the DGES works together with regional electricity commissions to ensure the respect, by the various utilities, of consumer price caps and compliance with overall quality of service standards, as well as, to oversee 'pooling' activities by producers and distributors

  4. Pricing regulations in Great Britain

    International Nuclear Information System (INIS)

    Cicoletti, G.

    1993-01-01

    This paper briefly describes the structure and functions of Great Britain's essential electric power regulatory authority institutionalized by the 1989 British Electricity Act, i.e., the Office of Electricity Regulation, OFFER, and the responsibilities and tasks of the head of OFFER - the Director General of Electricity Supply (DGES). In particular, with regard to the latter, the paper describes how the DGES works together with regional electricity commissions to ensure the respect, by the various utilities, of consumer price caps and compliance with overall quality of service standards, as well as, to oversee 'pooling' activities by producers and distributors

  5. Measurement framework for product service system performance of generator set distributors

    Science.gov (United States)

    Sofianti, Tanika D.

    2017-11-01

    Selling Generator Set (Genset) in B2B market, distributors assisted manufacturers to sell products. This is caused by the limited resources owned by the manufacturer for adding service elements. These service elements are needed to enhance the competitiveness of the generator sets. Some genset distributors often sell products together with supports to their customers. Industrial distributor develops services to meet the needs of the customer. Generator set distributors support machines and equipment produced by manufacturer. The services delivered by the distributors could enhance value obtained by the customers from the equipment. Services provided to customers in bidding process, ordering process of the equipment from the manufacturer, equipment delivery, installations, and the after sales stage. This paper promotes framework to measure Product Service System (PSS) of Generator Set distributors in delivering their products and services for the customers. The methodology of conducting this research is by adopting the perspective of the providers and customers and by taking into account the tangible and intangible products. This research leads to the idea of improvement of current Product Service System of a Genset distributor. This research needs further studies in more detailed measures and the implementation of measurement tools.

  6. Internet resource pricing models

    CERN Document Server

    Xu, Ke; He, Huan

    2013-01-01

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

  7. Using disease management and market reforms to address the adverse economic effects of drug budgets and price and reimbursement regulations in Germany.

    Science.gov (United States)

    Schwermann, Tim; Greiner, Wolfgang; v d Schulenburg, J M Graf

    2003-01-01

    Germany spends the highest share (10.4%) of its gross domestic product on health care among European Union countries. The majority of this financing comes from an earmarked tax on labor earnings. Drug spending, as a share (12.7%), is relatively low, as is per-capita drug spending. Over the past decade, a number of specific budgeting initiatives were introduced to control drug spending-with some success, at least until the 11% increase in the first 6 months of 2001. This article describes and analyzes these governmental initiatives as well as other market reforms. Germany has had a "drug budget silo mentality" throughout this period. But the focus of the mentality moved rapidly from the central budget to regional budgets and to drug budgets per physician based on historical data. These amounts do not correspond to either medical necessity or economic considerations. An analysis of the health-care system as a whole shows that the efforts to constrain spending with budget in one area can lead to higher total costs. This article also considers the impact of introducing other actual or proposed reforms such as a positive list to replace the negative list, generic substitution, retail price competition among pharmacies, and E-health commerce. There is also a new national institute constructing a database of information on health technology assessments. To overcome the strong segmentation of the health system in physician, drug, and hospital budgets, we recommend using this information from proper cost-effectiveness evaluations to develop clear guidelines for disease management programs, reinforced by appropriate financial incentives.

  8. Manufacturer-distributor relationships and channel service quality

    NARCIS (Netherlands)

    Lemmink, J.G.A.M.; Wetzels, M.G.M.; Koelemeijer, K.

    1997-01-01

    In today's marketplace for fast-moving consumer goods, many brands exist with similar characteristics. Development and maintenance of product differentiation becomes increasingly difficult to realize for manufacturers. Consequently, non-price competition particularly by offering high quality

  9. Food Wholesalers and Distributors, US and Territories, 2015, EPA Region 9

    Data.gov (United States)

    U.S. Environmental Protection Agency — This GIS dataset contains point features that represent food wholesalers, distributors, and supermarket and grocery stores represented by twenty-two unique NAICS...

  10. Gas pricing in Europe. Pt. 2. End-use consumption markets

    International Nuclear Information System (INIS)

    Donath, R.

    1996-01-01

    In the end-use consumption markets, gas is supplied to households, small consumers and industrial customers of retail distributors. As regards the delimitation of industrial customers receiving gas from retail distributors, there are great differences from one country to another, similarly to the market segmentation of wholesale markets.- First of all, the article points out structures and regulations in the investigated end-use consumption markets. The second part investigates cost-oriented and value-oriented pricing principles, followed by a comparison of price structures based on the Eurostat gas purchasing criteria for households and small consumers in the third part. A fourth part summarizes the results. (orig./UA) [de

  11. Sales Territory Management and Distributor Performance in the Telecommunications Industry in Ghana

    Directory of Open Access Journals (Sweden)

    Isaac TWENEBOAH-KODUAH

    2016-10-01

    Full Text Available The mobile telecommunications in Ghana is a highly competitive market which faces a problem of retaining their customers due to low switching cost. The purpose of this study was to investigate sales territory management and distributor performance of Vodafone in Sunyani. The population for the study was staff and retailers of Vodafone product and services. Multi-Stage sampling approach was employed for the study. A well-structured questionnaire and interview guide were used in collecting data from the respondents. Descriptive statistics, One Sample t-test, Kendall’s Coefficient of Concordance and Pearson Correlation Matrix were used to analyse the data. Results revealed that there was effective supervision of the sales territory representatives by the sales managers. The retailer’s confirmed the receipt of their requested orders from the distributor when the need arose. The sales territory representatives confirmed that sales managers involved them in developing new or adjusted territory plans for effective distribution. This study suggests that the key distributor should restructure their distribution strategy for better market penetration. Vodafone should do more to support the distributor in terms of logistics and intensify sales training for the sales territory representatives. Furthermore, the study prescribed five generic factors to serve as best practices for distributor management of any organisation.

  12. Keynote address

    International Nuclear Information System (INIS)

    Davis, J.M.

    1991-01-01

    DOE biomass R ampersand D programs have the potential to provide America with both plentiful, clean-burning domestic transportation fuels and cost-competitive industrial and utility fuels, benefiting energy security in the United States. Biofuels developed under our programs will also help improve air quality, reduce greenhouse gases, reduce the large daily quantities of waste we produce, and revitalize rural America. These research motivations have been documented in the National Energy Strategy. DOE looks forward to expanding its biofuels research program and to forging a partnership with private sector for cost-shared commercialization of new fuels and vehicle technologies. Many alternative fuels (e.g., ethanol, methanol, compressed natural gas, propane, or electricity) are candidates for gaining market share. Indeed, there may be significant regional variation in the future fuel mix. Alcohol fuels from biomass, particularly ethanol, have the potential to make a major contribution. Currently, ethanol in the United States is almost entirely made from corn; and the limitations of that process are well known (e.g., costly feedstock, end product requiring subsidy to be competitive, use of fossil fuels in renewable feedstock production and processing, and potential adverse impact of corn ethanol production on the price of food). To address these concerns, the DOE biofuels program is pursuing an ambitious research program to develop the technologies needed to convert these crops into alternative transportation fuels, primarily cellulose-based ethanol and methanol. Program R ampersand D has reduced the estimated cost per gallon of cellulose-based ethanol from $3.60 in 1980 to the current $1.35, with a program goal of $0.60 by the year 2000. DOE is also investigating the thermochemical conversion of biomass to methanol. The program goal is to achieve commercial production of methanol (like ethanol) at the gasoline equivalent of $0.90 per gallon by the year 2000. 4 figs

  13. Price fairness

    OpenAIRE

    Diller, Hermann

    2013-01-01

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

  14. Towards a framework for surveillance of distributors and development of food manufacturers' competencies

    DEFF Research Database (Denmark)

    Skytte, Hans

    Marketing has a long tradition for stressing the importance of staying close to your customers (Peters, 1982). How manufacturers can stay close to their cus-to-mers and create value for them has been widely researched in relation to end-users (Dic 1987) and to industrial customers (Narus, 1986......) but not so much in connection with distributors. This paper will discuss how food manufac-tu-rers can survey distributors, and in this connection especially food retailers. Firstly we will discuss the results from three preliminary studies and secondly we will discuss the research projects we intend to carry...

  15. The Opec basket price at $21/b

    International Nuclear Information System (INIS)

    Anon.

    1996-01-01

    The increase of petroleum prices are explained by speculative buying for a part, others reasons have to be emphasized: the tension between China and Taiwan, the Usa implication in this area and the conflicts risks have increased market excitability. The petroleum demand stays dynamic in Usa, due to a rigorous winter when the petroleum storage has been at the lowest level for twenty years, refiners and distributors being used to work with low storage. Recent declarations of the United Nations secretary, Mister Boutros Boutros-Gali, according to which a lot of problems are still to solve before concluding an agreement with Iraq, have taken the Damocles sword away from petroleum prices. Certainly the petroleum prices are going to decrease but the principle question is to know at which level they will be stabilized. (N.C.). 1 tab

  16. Dynamic Pricing

    DEFF Research Database (Denmark)

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

    2017-01-01

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

  17. 21 CFR 801.1 - Medical devices; name and place of business of manufacturer, packer or distributor.

    Science.gov (United States)

    2010-04-01

    ... 21 Food and Drugs 8 2010-04-01 2010-04-01 false Medical devices; name and place of business of manufacturer, packer or distributor. 801.1 Section 801.1 Food and Drugs FOOD AND DRUG ADMINISTRATION... § 801.1 Medical devices; name and place of business of manufacturer, packer or distributor. (a) The...

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

    Science.gov (United States)

    Puig-Junoy, Jaume

    2012-11-01

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

  19. 21 CFR 101.5 - Food; name and place of business of manufacturer, packer, or distributor.

    Science.gov (United States)

    2010-04-01

    ... 21 Food and Drugs 2 2010-04-01 2010-04-01 false Food; name and place of business of manufacturer... Food; name and place of business of manufacturer, packer, or distributor. (a) The label of a food in... business in lieu of the actual place where such food was manufactured or packed or is to be distributed...

  20. Transfer Pricing

    DEFF Research Database (Denmark)

    Nielsen, Søren Bo

    2014-01-01

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

  1. Gold prices

    OpenAIRE

    Joseph G. Haubrich

    1998-01-01

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

  2. Effect of distributor on performance of a continuous fluidized bed dryer

    Science.gov (United States)

    Yogendrasasidhar, D.; Srinivas, G.; Pydi Setty, Y.

    2018-03-01

    Proper gas distribution is very important in fluidized bed drying in industrial practice. Improper distribution of gas may lead to non-idealities like channeling, short circuiting and accumulation which gives rise to non-uniform quality of dried product. Gas distribution depends on the distributor plate used. Gas distribution mainly depends on orifice diameter, number of orifices and opening area of the distributor plate. Small orifice diameter leads to clogging, and a large orifice diameter gives uneven distribution of gas. The present work involves experimental studies using different distributor plates and simulation studies using ASPEN PLUS steady state simulator. The effect of various parameters such as orifice diameter, number of orifices and the opening area of the distributor plate on the performance of fluidized bed dryer have been studied through simulation and experimentation. Simulations were carried out (i) with increasing air inlet temperature to study the characteristics of solid temperature and moisture in outlet (ii) with increasing orifice diameter and (iii) with increase in number orifices to study the solid outlet temperature profiles. It can be observed from the simulation that, an increase in orifice diameter and number orifices increases solid outlet temperature upto certain condition and then after there is no effect with further increase. Experiments were carried out with increasing opening area (3.4 to 42%) in the form of increasing orifice diameter keeping the number of orifices constant and increasing number of orifices of the distributor plate keeping the orifice diameter constant. It can be seen that the drying rate and solid outlet temperature increase upto certain condition and then after with further increase in the orifice diameter and number of orifices, the change in the drying rate and solid outlet temperature observed is little. The optimum values of orifice diameter and number of orifices from experimentation are found to be 5

  3. Numerical and experimental hydrodynamic study of a coolant distributor for grinding applications

    Directory of Open Access Journals (Sweden)

    Tala Moussa

    2016-01-01

    Full Text Available In grinding, the high frictional energy is converted into heat, which may cause thermal damage and degradation of the wheel and the workpiece. Unwanted thermal effects must thus be reduced, often by external cooling using a curved-duct coolant distributor to match the wheel geometry. The performance of such a system depends strongly on the impinging jet flow properties to ensure efficient sprinkling of the hot spots. The fluid distributor, placed above the workpiece, is pierced with a certain number of identical nozzle fittings, providing multiple jets at the outlet of the nozzles. These jets sprinkle the solids over a given zone and remove the heat by convective transfer. The cooling is hence dependent on the flow structure, meaning the jet diameters, trajectories and velocities, determined up-flow by the distributor design. The present study is devoted to the hydrodynamics aspects of the fluid distributor, aiming to determine the flow-rate distribution at the different orifices and the flow-rate–pressure relationship, for a variety of nozzle diameters and feeding flow rates, under isothermal conditions. A simple hydraulic balance in the device was not able to predict with sufficient accuracy the actual measurements, even when the Venturi effect was accounted for. This discrepancy is due to the curvature of the distributor, inducing secondary flows in interaction with the nozzle outlets, which leads to a rather complex flow pattern. To overcome this issue, a computational fluid dynamics (CFD tool was used and compared with in situ experiments – global flow rate and pressure measurements were additionally taken with particle image velocimetry (PIV to gain insight into the local structure. Simulations were performed with a 3D turbulence model for Reynolds numbers up to 100,000. This model provides an efficient tool for coupling with the thermal study at a later step, allowing global sizing and energetic optimization of the grinding process.

  4. Price Competition or Tacit Collusion

    OpenAIRE

    Yano, Makoto; Komatsubara, Takashi

    2012-01-01

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

  5. Pricing of new vaccines.

    Science.gov (United States)

    Lee, Bruce Y; McGlone, Sarah M

    2010-08-01

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

  6. Pricing of new vaccines

    Science.gov (United States)

    McGlone, Sarah M

    2010-01-01

    New vaccine pricing is a complicated process that could have substantial long-standing scientific, medical and public health ramifications. Pricing can have a considerable impact on new vaccine adoption and, thereby, either culminate or thwart years of research and development and public health efforts. Typically, pricing strategy consists of the following eleven components: (1) Conduct a target population analysis; (2) Map potential competitors and alternatives; (3) Construct a vaccine target product profile (TPP) and compare it to projected or actual TPPs of competing vaccines; (4) Quantify the incremental value of the new vaccine's characteristics; (5) Determine vaccine positioning in the marketplace; (6) Estimate the vaccine price-demand curve; (7) Calculate vaccine costs (including those of manufacturing, distribution, and research and development); (8) Account for various legal, regulatory, third party payer and competitor factors; (9) Consider the overall product portfolio; (10) Set pricing objectives; (11) Select pricing and pricing structure. While the biomedical literature contains some studies that have addressed these components, there is still considerable room for more extensive evaluation of this important area. PMID:20861678

  7. Transfer Pricing

    DEFF Research Database (Denmark)

    Rohde, Carsten; Rossing, Christian Plesner

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

  8. Optimal economic order quantity for buyer-distributor-vendor supply chain with backlogging derived without derivatives

    Science.gov (United States)

    Teng, Jinn-Tsair; Cárdenas-Barrón, Leopoldo Eduardo; Lou, Kuo-Ren; Wee, Hui Ming

    2013-05-01

    In this article, we first complement an inappropriate mathematical error on the total cost in the previously published paper by Chung and Wee [2007, 'Optimal the Economic Lot Size of a Three-stage Supply Chain With Backlogging Derived Without Derivatives', European Journal of Operational Research, 183, 933-943] related to buyer-distributor-vendor three-stage supply chain with backlogging derived without derivatives. Then, an arithmetic-geometric inequality method is proposed not only to simplify the algebraic method of completing prefect squares, but also to complement their shortcomings. In addition, we provide a closed-form solution to integral number of deliveries for the distributor and the vendor without using complex derivatives. Furthermore, our method can solve many cases in which their method cannot, because they did not consider that a squared root of a negative number does not exist. Finally, we use some numerical examples to show that our proposed optimal solution is cheaper to operate than theirs.

  9. Digitization and the open management of data: New prospects for electricity distributors

    International Nuclear Information System (INIS)

    Derdevet, Michel

    2017-01-01

    At the core of both the energy transition and the digital revolution are the grids for distributing electricity during this era of big data. The electricity grid is becoming smarter and smarter, as it is equipped with sensors capable of providing information and data - the leading example being the 35 million smart electricity meters to be installed in French households by 2021. Backed by recent legislation, the trend toward open data is, for distributors, both a requirement and a lever: an economic, social and environmental requirement for enabling localities to prove their sense of responsibility and for developing innovative services for citizens; but also a lever for distributors to become operators who, processing dynamic data, are open to their ecosystem - a lever for making new business models emerge for the local management of energy

  10. Investment and revenue cap under incentive regulation: The case study of the Norwegian electricity distributors

    OpenAIRE

    Zhang, Dengjun; Xie, Jinghua

    2017-01-01

    Source at https://doi.org/10.1080/23322039.2017.1400900 Electricity distribution operators are regulated as monopolies around the world. Incentive regulation is further applied to relate their allowed revenues (revenue cap) to cost efficiency and investment. Incentive regulation varies cross countries and has evolved over time for individual countries. Norway is one of the first countries reforming the network distributors by incentive regulation. Using the long time series data, we eval...

  11. Design data, liquid distributors and condenser for a distillation column to enrich tritium in metallic lithium

    International Nuclear Information System (INIS)

    Barnert, E.

    1984-01-01

    Tritium, one fuel component of the fusion reactor is bred from the reactors blanket material lithium. Before extracting the tritium from, for instance, metallic lithium by permeation it has to be enriched in the lithium by high temperature distillation. In this report design data for a column for high temperature distillation are given. About the testing of two distributors for small liquid quantities and of a condenser is reported. (orig.) [de

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

    Science.gov (United States)

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

    2017-06-01

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

  13. Petroleum price

    International Nuclear Information System (INIS)

    Chevallier, B.

    2009-01-01

    The 'AFTP' conference on 'petroleum prices' organized by Total last March, tries to explain the different aspects of the crisis we undergo for July 2007 and its consequential effects on the petroleum markets (supply, demand evolvements, impacts on reserves, prices, refining...). (O.M.)

  14. Gas prices and price process

    International Nuclear Information System (INIS)

    Groenewegen, G.G.

    1992-01-01

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

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

    Directory of Open Access Journals (Sweden)

    Travis C. Tai

    2017-11-01

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

  16. Price increase

    CERN Multimedia

    2006-01-01

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

  17. Price increase

    CERN Multimedia

    2005-01-01

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

  18. Convocation address.

    Science.gov (United States)

    Swaminathan, M S

    1998-07-01

    This address delivered to the 40th convocation of the International Institute for Population Sciences in India in 1998 opens by noting that a shortage of jobs for youth is India's most urgent problem but that the problems that attend the increasing numbers of elderly also require serious attention. The address then notes that the Earth's population is growing at an unsustainable rate while economic inequities among countries are increasing, so that, while intellectual property is becoming the most important asset in developed countries, nutritional anemia among pregnant women causes their offspring to be unable to achieve their full intellectual potential from birth. Next, the address uses a discussion of the 18th-century work on population of the Marquis de Condorcet and of Thomas Malthus to lead into a consideration of estimated increased needs of countries like India and China to import food grains in the near future. Next, the progress of demographic transition in Indian states is covered and applied to Mahbub ul Haq's measure of human deprivation developed for and applied to the region of the South Asian Association for Regional Cooperation (India, Pakistan, Bangladesh, Nepal, Sri Lanka, Bhutan, and the Maldives). The address continues by reiterating some of the major recommendations forwarded by a government of India committee charged in 1995 with drafting a national population policy. Finally, the address suggests specific actions that could be important components of the Hunger-Free India Programme and concludes that all success rests on the successful implementation of appropriate population policies.

  19. Freemium Pricing

    DEFF Research Database (Denmark)

    Runge, Julian; Wagner, Stefan; Claussen, Jörg

    Firms commonly run field experiments to improve their freemium pricing schemes. However, they often lack a framework for analysis that goes beyond directly measurable outcomes and focuses on longer term profit. We aim to fill this gap by structuring existing knowledge on freemium pricing...... into a stylized framework. We apply the proposed framework in the analysis of a field experiment that contrasts three variations of a freemium pricing scheme and comprises about 300,000 users of a software application. Our findings indicate that a reduction of free product features increases conversion as well...... as viral activity, but reduces usage – which is in line with the framework’s predictions. Additional back-of-the-envelope profit estimations suggest that managers were overly optimistic about positive externalities from usage and viral activity in their choice of pricing scheme, leading them to give too...

  20. Petroleum price

    International Nuclear Information System (INIS)

    Maurice, J.

    2001-01-01

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

  1. inaugral address

    African Journals Online (AJOL)

    While political reorientation and economic redress were of immediate concern, ... South African context, where widespread changes have been proposed for education at all ... education at school and other levels and needs to be addressed so as to ..... the major national curriculum intervention in environmental education.

  2. Water distribution in an orchard irrigated by perforated distributors in stony ground

    International Nuclear Information System (INIS)

    Decroix, M.; Marcesse, J.; Normand, M.

    1975-01-01

    In the context of new irrigation techniques the Compagnie Nationale d'Amenagement du Bas-Rhone et du Languedoc (B.Rh.L.) has developed a process of localized irrigation by perforated distributors. Conditions were defined for the optimum use of this process, especially the distribution of water in the ground. The study was carried out in a peach orchard in stony ground. The neutronic method was used to measure the soil moisture content. Because of the heterogeneous stone size distribution it was necessary for the specific humidity determination to take into account the dry apparent density. This parameter was measured by gammametry [fr

  3. About SEEs in the HV Distributor System of the TileCal

    CERN Document Server

    Chadelas, R; Lambert, D

    2002-01-01

    SEE tests performed in october 2001 (27-28) on the HV distributor system of the Tile calorimeter gave us estimated numbers concerning soft and latch-up events. Even if the rates seen will not prevent the device from running, it is important to try to reduce them and to predict how the system will react in particular to latch-ups. This note describes the efforts developped to reduce SEE rates and to secure the behaviour of the system with respect to latch-ups.

  4. Opening address

    International Nuclear Information System (INIS)

    Ianko, L.

    1993-01-01

    This short talk was the opening remarks to the attendees at this conference, presented by the Scientific Secretary, IWG-LMNPP, of the IAEA. This meeting is an effort to aid research on problems related to the general area of nuclear plant aging and life management. In particular it addresses fracture properties of reactor materials and components, both as installed, and at end of service condition. A major concern is relating measurements made on laboratory samples to properties displayed by actual reactor components

  5. Marketplace pricing

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

    As discussed in this chapter, interest in marketplace pricing has been increasing in recent years, reflecting the societal trend toward substituting competition for regulation where appropriate. Competition is valuable because it encourages utilities to make efficient decisions with a minimum of regulatory intervention. It enhances efficiency through the incentive for innovation by the regulated companies and by increasing the likelihood they will come forward with proposals for better services, lower prices or both. Ultimately, consumers are beneficiaries. Marketplace pricing is emblematic of the view that the degree of regulation should reflect the degree of market power, that workably competitive markets should be allowed to operate with as little regulatory interference as possible. The Edison Electric Institute has made perhaps the most detailed proposal on marketplace pricing. It and others perceive numerous benefits from this method of pricing transmission services. Given the undeniable market power resulting from line ownership, FERC has emphasized the need to find a workably competitive market before approving such proposals. The ability to make this distinction without a full-blown antitrust review for every transaction is questionable, and FERC has yet to provide generic guidance. Finally, FERC's legal ability to depart from cost-based standards is questionable

  6. Convocation address.

    Science.gov (United States)

    Zakaria, R

    1996-07-01

    By means of this graduation address at the International Institute for Population Sciences (IIPS) in Bombay, the Chancellor of Urdu University voiced his concerns about overpopulation in India. During the speaker's tenure as Health Minister of Maharashtra, he implemented a sterilization incentive program that resulted in the state's having the best family planning (FP) statistics in India for almost 10 years. The incentive program, however, was misused by overenthusiastic officials in other states, with the result that the FP program was renamed the Family Welfare Programme. Population is growing in India because of improvements in health care, but the population education necessary to change fertility will require more time than the seriousness of the population problem allows. In the longterm, poverty and illiteracy must be addressed to control population. In the meanwhile, the graduate program at the IIPS should be expanded to include an undergraduate program, marriage age laws should be enforced, and misconceptions about religious objections to FP must be addressed. India can not afford to use the measures forwarded by developed countries to control population growth. India must integrate population control efforts with the provision of health care because if population continues to grow in the face of reduced infant mortality and longer life expectancy, future generations will be forced to live in a state of poverty and economic degradation.

  7. Forecasting of electricity prices with neural networks

    Energy Technology Data Exchange (ETDEWEB)

    Gareta, Raquel [Centro de Investigacion de Recursos y Consumos Energeticos (CIRCE), Universidad de Zaragoza, Centro Politecnico Superior, Maria de Luna, 3, 50018 Zaragoza (Spain); Romeo, Luis M. [Centro de Investigacion de Recursos y Consumos Energeticos (CIRCE), Universidad de Zaragoza, Centro Politecnico Superior, Maria de Luna, 3, 50018 Zaragoza (Spain)]. E-mail: luismi@unizar.es; Gil, Antonia [Centro de Investigacion de Recursos y Consumos Energeticos (CIRCE), Universidad de Zaragoza, Centro Politecnico Superior, Maria de Luna, 3, 50018 Zaragoza (Spain)

    2006-08-15

    During recent years, the electricity energy market deregulation has led to a new free competition situation in Europe and other countries worldwide. Generators, distributors and qualified clients have some uncertainties about the future evolution of electricity markets. In consequence, feasibility studies of new generation plants, design of new systems and energy management optimization are frequently postponed. The ability of forecasting energy prices, for instance the electricity prices, would be highly appreciated in order to improve the profitability of utility investments. The development of new simulation techniques, such as Artificial Intelligence (AI), has provided a good tool to forecast time series. In this paper, it is demonstrated that the Neural Network (NN) approach can be used to forecast short term hourly electricity pool prices (for the next day and two or three days after). The NN architecture and design for prices forecasting are described in this paper. The results are tested with extensive data sets, and good agreement is found between actual data and NN results. This methodology could help to improve power plant generation capacity management and, certainly, more profitable operation in daily energy pools.

  8. Forecasting of electricity prices with neural networks

    International Nuclear Information System (INIS)

    Gareta, Raquel; Romeo, Luis M.; Gil, Antonia

    2006-01-01

    During recent years, the electricity energy market deregulation has led to a new free competition situation in Europe and other countries worldwide. Generators, distributors and qualified clients have some uncertainties about the future evolution of electricity markets. In consequence, feasibility studies of new generation plants, design of new systems and energy management optimization are frequently postponed. The ability of forecasting energy prices, for instance the electricity prices, would be highly appreciated in order to improve the profitability of utility investments. The development of new simulation techniques, such as Artificial Intelligence (AI), has provided a good tool to forecast time series. In this paper, it is demonstrated that the Neural Network (NN) approach can be used to forecast short term hourly electricity pool prices (for the next day and two or three days after). The NN architecture and design for prices forecasting are described in this paper. The results are tested with extensive data sets, and good agreement is found between actual data and NN results. This methodology could help to improve power plant generation capacity management and, certainly, more profitable operation in daily energy pools

  9. Survey regarding the prices of wood fuels over the 2014 - 2015 period - Synthesis

    International Nuclear Information System (INIS)

    Fautrad, Alice

    2015-11-01

    The study conducted by CODA Strategies contains, in a first part, the synthesis and the full report of the results of a survey realized in 2015 among distributors of wood fuels for domestic, commercial, industrial and collective housing purposes. A second report presents the 2014-2015 fuel prices for commercial, industrial and collective housing markets only. This report is based on data published by the CEEB and proposes a method to estimate the cost of delivery. A third report presents the 2014-2015 results of a survey realized among distributors of wood fuels for domestic purposes only. This report also presents data regarding wood pellets price, in order to place the French market in its international context. A last report presents a French/English synthesis of the the 2014-2015 survey results

  10. Electricity pricing

    International Nuclear Information System (INIS)

    Wijayatunga, P.D.C.

    1994-01-01

    Electricity pricing in most countries, especially in the developing world, has been determined by traditional accounting criteria where it raises revenue requirements to cover the operating costs and a return on past and future capital investments in possible power systems. The use of economic principles to improve the total economic efficiency in the electricity industry is discussed. Basic marginal cost theory, long run marginal costing (LRMC) cost categories and rating periods, marginal capacity costs, marginal energy costs, consumer costs, short run marginal costing (SRMC), marginal cost of fuel, marginal cost of network losses, market clearing price, value of unserved energy and network quality of supply cost are discussed

  11. Keynote address

    International Nuclear Information System (INIS)

    Herzog, R.

    1985-01-01

    This paper addresses various aspects of the bases underlying the nuclear third party liability regime, and also analyses the distinction between danger and risk and the manner in which damage caused by flood, mass unemployment (economic damage mainly) and certain diseases is dealt with in the absence of liability provisions similar to those applicable to nuclear incidents. It also is suggested that the State because of its duty under the Basic Law to ensure adequate energy supplies, should be co-responsible for liability questions along with the nuclear operator. (NEA) [fr

  12. Distributor- Retailer Interface in Pharmaceutical Supply Chain: Service Quality Measurement Scale.

    Science.gov (United States)

    Mehralian, Gholamhossein; Babapour, Jafar; Peiravian, Farzad

    2016-01-01

    In the current competitive market, service quality management is the key to the survival and success of businesses. SERVQUAL is a popular service quality measurement scale (SQMS) that has served as a basis for subsequent research on service quality; it has been used for testing different aspects of service quality in a market. The purpose of our study is, therefore, to develop a service quality measurement scale (SQMS) for the distributor-retailer interface of Pharm supply chains (PSC) in Iran. A survey was performed to collect data from pharmacies located in Tehran. A valid and reliable questionnaire delivered to pharmacies, and 400 pharmacies were intended to participate in our survey. Confirmatory factor analysis (CFA) was used to develop an SQMS in this study. Sufficient sampling was undertaken to do CFA. Consistent with other service quality studies, this Res developed an SQMS with five dimensions and 20 items for PSC, and contributes to mangers to regularly measure service quality. This is an initial study to develop a framework for measuring service quality in Iranian PCS. The framework can be used effectively to achieve competitive advantage at the distributor-retailer interface.

  13. Femtosecond Laser-Inscripted Direct Ultrafast Fabrication of a DNA Distributor Using Microfluidics

    Directory of Open Access Journals (Sweden)

    Hojun Shin

    2017-10-01

    Full Text Available A femtosecond laser can be used for single or multiple writing processes to create sub 10-μm lines or holes directly without the use of masks. In this study, we characterized the depth and width of micro-channels created by femtosecond laser micro-scribing in polydimethylsiloxane (PDMS under various energy doses (1%, 5%, 10%, 15% and 20% and laser beam passes (5, 10 and 15. Based on a microfluidic simulation in a bio-application, a DNA distributor was designed and fabricated based on an energy dose of 5% and a laser beam pass of 5. The simulated depth and width of the micro-channels was 3.58 and 5.27 μm, respectively. The depth and width of the micro-channels were linearly proportional to the energy dose and the number of laser beam passes. In a DNA distribution experiment, a brighter fluorescent intensity for YOYO-1 Iodide with DNA was observed in the middle channels with longer DNA. In addition, the velocity was the lowest as estimated in the computational simulation. The polymer processability of the femtosecond laser and the bio-applicability of the DNA distributor were successfully confirmed. Therefore, a promising technique for the maskless fabrication of sub 10-μm bio-microfluidic channels was demonstrated.

  14. Business Strategy of CV Jaya Sampurna in Facing Soft Drink Distributor Competition in Bekasi

    Directory of Open Access Journals (Sweden)

    Seri Nurmala

    2015-11-01

    Full Text Available CV Jaya Sampurna is a soft drink distributor in Bekasi. Distributor company has a low profit margin, moreover the product sold is Fast Moving Consumers Goods with a very low profit margin (3.5%–5%. Therefore the company depends on a high volume of sales. Besides, there are many competitors in this industry, thus the business strategy is needed to improve the competitive advantage of the company. Given the conditions,this research was to identify the internal and the external factors, to identify the formulation of business strategy alternative, and to identify the recommendation of functional strategy for CV Jaya Sampurna. Research used descriptive method; and the type of research used was case study. Data were gathered from questionnaires and interview to three member of managers: Director, Operational Manager, and Finance Manager. Data wereanalyzed by using EFE, IFE, SWOT, IE, Grand Strategy Matrix and QSPM. The result of this research implies that the alternative strategy based on QSPM’s result was market penetration

  15. Design and Testing of a Hall Effect Thruster with 3D Printed Channel and Propellant Distributor

    Science.gov (United States)

    Hopping, Ethan P.; Xu, Kunning G.

    2017-01-01

    The UAH-78AM is a low-power Hall effect thruster developed at the University of Alabama in Huntsville with channel walls and a propellant distributor manufactured using 3D printing. The goal of this project is to assess the feasibility of using unconventional materials to produce a low-cost functioning Hall effect thruster and consider how additive manufacturing can expand the design space and provide other benefits. A version of the thruster was tested at NASA Glenn Research Center to obtain performance metrics and to validate the ability of the thruster to produce thrust and sustain a discharge. An overview of the thruster design and transient performance measurements are presented here. Measured thrust ranged from 17.2 millinewtons to 30.4 millinewtons over a discharge power of 280 watts to 520 watts with an anode I (sub SP)(Specific Impulse) range of 870 seconds to 1450 seconds. Temperature limitations of materials used for the channel walls and propellant distributor limit the ability to run the thruster at thermal steady-state.

  16. Dynamic pricing for demand response considering market price uncertainty

    DEFF Research Database (Denmark)

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

    2017-01-01

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

  17. Price Increases in the Aftermath of Hurricane Katrina: Authority to Limit Price Gouging

    National Research Council Canada - National Science Library

    Welborn, Angie A; Flynn, Aaron M

    2005-01-01

    ... gasoline prices, in other parts of the country. State laws regarding price gouging in the event of an emergency are discussed as is the role the Federal Government could play in addressing rising gas prices in other parts of the country...

  18. Best Practices for New Product Pricing: Impact on Market Performance and Price Level under Different Conditions

    NARCIS (Netherlands)

    Ingenbleek, P.T.M.; Frambach, R.T.; Verhallen, T.M.M.

    2013-01-01

    To date, research on new product pricing has predominantly been approached as a choice between market skimming and penetration pricing. Despite calls for research that addresses other complexities in new product pricing, empirical research responding to these calls remains scarce. This paper

  19. Pricing decision-making units

    OpenAIRE

    R F&aauml;re; S Grosskopf; D Margaritis

    2013-01-01

    In this note we extend the standard DEA paradigm to address the question of how one can price DMUs (decision-making units). To do this we use an adjoint transformation to the technology generated by these DMUs which links to traditional linear programming theory of the firm and is similar to pricing portfolios in financial markets. We also provide a numerical example illustrating the practicality of the proposed method.

  20. Keynote address

    International Nuclear Information System (INIS)

    Farlinger, W.

    1997-01-01

    In this second keynote address of the conference Mr. Farlinger, Chairman of Ontario Hydro, attempted to respond to some of the criticisms levelled at the Corporation in the course of the Macdonald Committee process. He appeared to be particularly vexed by the criticism of IPPSO, saying that in effect, they are' beating up on their only customer', at a time when Hydro is being pulled in several different directions, and was facing pressure from jurisdictional dispute with municipal utilities, (MEUs). Nevertheless, he agreed with the need for restructuring. He defended Hydro by saying that the Macdonald Report in fact represented a vindication of the position Ontario Hydro had taken, particularly on such issues as open competition, customer choice, rationalization of the distribution system, and termination of Hydro's monopoly position. At the same time, he objected to the Report's assertion that dismantling the generation system into smaller units would be in the best interest of the people of Ontario. He suggested that there would be several large US utility companies willing and able to fill the vacuum if there was no large company with its head office in Ontario to stake its claim to the provincial market

  1. Opening address

    International Nuclear Information System (INIS)

    Boening, K.

    2003-01-01

    The program of this 9th Meeting of the International Group on Research Reactors IGORR includes are quite a number of fascinating new research reactor projects in France, Germany, Russia, Canada, China, Thailand, and in Australia. In addition to the session about New Facilities there are interesting sessions on the Upgrades and on the Optimization of Operation and Utilization of existing research reactors, on Secondary Neutron Sources, on Neutron Scattering applications, and on the aspects of Safety, Licensing and Decommissioning. Two particular projects of new research reactors are mentioned specially: the TRR-II project in Taiwan, has unfortunately been terminated last year because of a change to anti-nuclear of the ruling parties in the government - and the new FRM-II in Munich, Germany, which will hopefully survive such a political change and receive its green light for nuclear start up in the very near future. The charter of IGORR and its objectives are part of this address: The International Group on Research Reactors IGORR was formed to facilitate the sharing of knowledge and experience among those institutions and individuals who are actively working to design, build, and promote new research reactors or to make significant upgrades to existing facilities. The main IGORR objectives are to promote contacts between its members, to identify and discuss problems of common interest, to distribute newsletters about once or twice every year and to organize meetings about once every one-and-a-half years

  2. Opening Address

    Science.gov (United States)

    Yamada, T.

    2014-12-01

    Ladies and Gentlemen, it is my great honor and pleasure to present an opening address of the 3rd International Workshop on "State of the Art in Nuclear Cluster Physics"(SOTANCP3). On the behalf of the organizing committee, I certainly welcome all your visits to KGU Kannai Media Center belonging to Kanto Gakuin University, and stay in Yokohama. In particular, to whom come from abroad more than 17 countries, I would appreciate your participations after long long trips from your homeland to Yokohama. The first international workshop on "State of the Art in Nuclear Cluster Physics", called SOTANCP, was held in Strasbourg, France, in 2008, and the second one was held in Brussels, Belgium, in 2010. Then the third workshop is now held in Yokohama. In this period, we had the traditional 10th cluster conference in Debrecen, Hungary, in 2012. Thus we have the traditional cluster conference and SOTANCP, one after another, every two years. This obviously shows our field of nuclear cluster physics is very active and flourishing. It is for the first time in about 10 years to hold the international workshop on nuclear cluster physics in Japan, because the last cluster conference held in Japan was in Nara in 2003, about 10 years ago. The president in Nara conference was Prof. K. Ikeda, and the chairpersons were Prof. H. Horiuchi and Prof. I. Tanihata. I think, quite a lot of persons in this room had participated at the Nara conference. Since then, about ten years passed. So, this workshop has profound significance for our Japanese colleagues. The subjects of this workshop are to discuss "the state of the art in nuclear cluster physics" and also discuss the prospect of this field. In a couple of years, we saw significant progresses of this field both in theory and in experiment, which have brought better and new understandings on the clustering aspects in stable and unstable nuclei. I think, the concept of clustering has been more important than ever. This is true also in the

  3. Welcome Address

    Science.gov (United States)

    Kiku, H.

    2014-12-01

    Ladies and Gentlemen, It is an honor for me to present my welcome address in the 3rd International Workshop on "State of the Art in Nuclear Cluster Physics"(SOTANCP3), as the president of Kanto Gakuin University. Particularly to those from abroad more than 17 countries, I am very grateful for your participation after long long trips from your home to Yokohama. On the behalf of the Kanto Gakuin University, we certainly welcome your visit to our university and stay in Yokohama. First I would like to introduce Kanto Gakuin University briefly. Kanto Gakuin University, which is called KGU, traces its roots back to the Yokohama Baptist Seminary founded in 1884 in Yamate, Yokohama. The seminary's founder was Albert Arnold Bennett, alumnus of Brown University, who came to Japan from the United States to establish a theological seminary for cultivating and training Japanese missionaries. Now KGU is a major member of the Kanto Gakuin School Corporation, which is composed of two kindergartens, two primary schools, two junior high schools, two senior high schools as well as KGU. In this university, we have eight faculties with graduate school including Humanities, Economics, Law, Sciences and Engineering, Architecture and Environmental Design, Human and Environmental Studies, Nursing, and Law School. Over eleven thousands students are currently learning in our university. By the way, my major is the geotechnical engineering, and I belong to the faculty of Sciences and Engineering in my university. Prof. T. Yamada, here, is my colleague in the same faculty. I know that the nuclear physics is one of the most active academic fields in the world. In fact, about half of the participants, namely, more than 50 scientists, come from abroad in this conference. Moreover, I know that the nuclear physics is related to not only the other fundamental physics such as the elementary particle physics and astrophysics but also chemistry, medical sciences, medical cares, and radiation metrology

  4. Surface contamination of hazardous drug pharmacy storage bins and pharmacy distributor shipping containers.

    Science.gov (United States)

    Redic, Kimberly A; Fang, Kayleen; Christen, Catherine; Chaffee, Bruce W

    2018-03-01

    Purpose This study was conducted to determine whether there is contamination on exterior drug packaging using shipping totes from the distributor and carousel storage bins as surrogate markers of external packaging contamination. Methods A two-part study was conducted to measure the presence of 5-fluorouracil, ifosfamide, cyclophosphamide, docetaxel and paclitaxel using surrogate markers for external drug packaging. In Part I, 10 drug distributor shipping totes designated for transport of hazardous drugs provided a snapshot view of contamination from regular use and transit in and out of the pharmacy. An additional two totes designated for transport of non-hazardous drugs served as controls. In Part II, old carousel storage bins (i.e. those in use pre-study) were wiped for snapshot view of hazardous drug contamination on storage bins. New carousel storage bins were then put into use for storage of the five tested drugs and used for routine storage and inventory maintenance activities. Carousel bins were wiped at time intervals 0, 8, 16 and 52 weeks to measure surface contamination. Results Two of the 10 hazardous shipping totes were contaminated. Three of the five-old carousel bins were contaminated with cyclophosphamide. One of the old carousel bins was also contaminated with ifosfamide. There were no detectable levels of hazardous drugs on any of the new storage bins at time 0, 8 or 16 weeks. However, at the Week 52, there was a detectable level of 5-FU present in the 5-FU carousel bin. Conclusions Contamination of the surrogate markers suggests that external packaging for hazardous drugs is contaminated, either during the manufacturing process or during routine chain of custody activities. These results demonstrate that occupational exposure may occur due to contamination from shipping totes and storage bins, and that handling practices including use of personal protective equipment is warranted.

  5. A Bayesian Approach to International Distributor Selection for Small and Medium-Sized Enterprises in the Software Industry

    Science.gov (United States)

    Lui, Joseph P.

    2013-01-01

    Identifying appropriate international distributors for small and medium-sized enterprises (SMEs) in the software industry for overseas markets can determine a firm's future endeavors in international expansion. SMEs lack the complex skills in market research and decision analysis to identify suitable partners to engage in global market entry.…

  6. Comparison of Knowledge on Diarrheal Disease Management between Two Types of Community-Based Distributors in Oyo State, Nigeria

    Science.gov (United States)

    Ande, Oluyinka; Oladepo, Oladimeji; Brieger, William R.

    2004-01-01

    Community-based distributors (CBDs) have been trained and utilized to promote a variety of health commodities. In addition, a variety of different types of community residents have been trained ranging from traditional birth attendants (TBAs) to patent medicine vendors. A training programme for CBD agents in the Akinyele Local Government Area of…

  7. Enabling Business Processes through Information Management and IT Systems: The FastFit and Winter Gear Distributors Case Studies

    Science.gov (United States)

    Kesner, Richard M.; Russell, Bruce

    2009-01-01

    The "FastFit Case Study" and its companion, the "Winter Gear Distributors Case Study" provide undergraduate business students with a suitable and even familiar business context within which to initially consider the role of information management (IM) and to a lesser extent the role of information technology (IT) systems in enabling a business.…

  8. Pharmaceutical quality assurance of local private distributors: a secondary analysis in 13 low-income and middle-income countries

    Science.gov (United States)

    Caudron, Jean Michel; Schiavetti, Benedetta; Pouget, Corinne; Tsoumanis, Achilleas; Meessen, Bruno; Ravinetto, Raffaella

    2018-01-01

    Introduction The rapid globalisation of the pharmaceutical production and distribution has not been supported by harmonisation of regulatory systems worldwide. Thus, the supply systems in low-income and middle-income countries (LMICs) remain exposed to the risk of poor-quality medicines. To contribute to estimating this risk in the private sector in LMICs, we assessed the quality assurance system of a convenient sample of local private pharmaceutical distributors. Methods This descriptive study uses secondary data derived from the audits conducted by the QUAMED group at 60 local private pharmaceutical distributors in 13 LMICs. We assessed the distributors’ compliance with good distribution practices (GDP), general quality requirements (GQR) and cold chain management (CCM), based on an evaluation tool inspired by the WHO guidelines ’Model Quality Assurance System (MQAS) for procurement agencies'. Descriptive statistics describe the compliance for the whole sample, for distributors in sub-Saharan Africa (SSA) versus those in non-SSA, and for those in low-income countries (LICs) versus middle-income countries (MICs). Results Local private pharmaceutical distributors in our sample were non-compliant, very low-compliant or low-compliant for GQR (70%), GDP (60%) and CCM (41%). Only 7/60 showed good to full compliance for at least two criteria. Observed compliance varies by geographical region and by income group: maximum values are higher in non-SSA versus SSA and in MICs versus LICs, while minimum values are the same across different groups. Conclusion The poor compliance with WHO quality standards observed in our sample indicates a concrete risk that patients in LMICs are exposed to poor-quality or degraded medicines. Significant investments are needed to strengthen the regulatory supervision, including on private pharmaceutical distributors. An adapted standardised evaluation tool inspired by the WHO MQAS would be helpful for self-evaluation, audit and inspection

  9. 77 FR 15370 - General Services Administration Acquisition Regulation; Information Collection; Price Reductions...

    Science.gov (United States)

    2012-03-15

    ... Services Administration Acquisition Regulation; Information Collection; Price Reductions Clause; Extension... notice of request for comments regarding OMB Control No. 3090-0235, Price Reductions Clause, published in... 16, 2012. ADDRESSES: Submit comments identified by Information Collection 3090- 0235, Price...

  10. Natural gas pricing policies in Southeast Asia

    International Nuclear Information System (INIS)

    Pacudan, R.B.

    1998-01-01

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

  11. Electricity prices in the Finnish retail market

    International Nuclear Information System (INIS)

    Lehto, Eero

    2011-01-01

    This study focuses, firstly, on the pricing of electricity in the Finnish retail market. In particular, the impact of the ownership structure on prices is tested empirically. Secondly, the influence of low-cost electricity sources on retail prices is considered. The question about whether the average fuel costs rather than the wholesale price determine the retail prices is thus addressed. The supply side behaviour characterised may explain the passivity of client activity in the seemingly competitive Finnish market. - Research highlights: → Ownership has a strong impact on retail prices in the Finnish electricity market. → Locally owned companies' rates are 5-15 per cent lower than investor owned companies' rates. → Own low cost acquisition of electricity helps local firms to keep prices at low levels.

  12. Nonlinear Pricing in Markets with Interdependent Demand

    OpenAIRE

    Shmuel S. Oren; Stephen A. Smith; Robert B. Wilson

    1982-01-01

    This paper provides a mathematical framework for modeling demand and determining optimal price schedules in markets which have demand externalities and can sustain nonlinear pricing. These fundamental economic concepts appear in the marketplace in the form of mutual buyers' benefits and quantity discounts. The theory addressing these aspects is relevant to a wide variety of goods and services. Examples include tariffs for electronic communications services, pricing of franchises, and royalty ...

  13. Location-Price Competition in Airline Networks

    Directory of Open Access Journals (Sweden)

    H. Gao

    2014-01-01

    Full Text Available This paper addresses location-then-price competition in airline market as a two-stage game of n players on the graph. Passenger’s demand distribution is described by multinomial logit model. Equilibrium in price game is computed through best response dynamics. We solve location game using backward induction, knowing that airlines will choose prices from equilibrium for the second-stage game. Some numerical results for airline market under consideration are presented.

  14. Optimal pricing and marketing planning for deteriorating items.

    Directory of Open Access Journals (Sweden)

    Seyed Reza Moosavi Tabatabaei

    Full Text Available Optimal pricing and marketing planning plays an essential role in production decisions on deteriorating items. This paper presents a mathematical model for a three-level supply chain, which includes one producer, one distributor and one retailer. The proposed study considers the production of a deteriorating item where demand is influenced by price, marketing expenditure, quality of product and after-sales service expenditures. The proposed model is formulated as a geometric programming with 5 degrees of difficulty and the problem is solved using the recent advances in optimization techniques. The study is supported by several numerical examples and sensitivity analysis is performed to analyze the effects of the changes in different parameters on the optimal solution. The preliminary results indicate that with the change in parameters influencing on demand, inventory holding, inventory deteriorating and set-up costs change and also significantly affect total revenue.

  15. Optimal pricing and marketing planning for deteriorating items

    Science.gov (United States)

    Moosavi Tabatabaei, Seyed Reza; Sadjadi, Seyed Jafar; Makui, Ahmad

    2017-01-01

    Optimal pricing and marketing planning plays an essential role in production decisions on deteriorating items. This paper presents a mathematical model for a three-level supply chain, which includes one producer, one distributor and one retailer. The proposed study considers the production of a deteriorating item where demand is influenced by price, marketing expenditure, quality of product and after-sales service expenditures. The proposed model is formulated as a geometric programming with 5 degrees of difficulty and the problem is solved using the recent advances in optimization techniques. The study is supported by several numerical examples and sensitivity analysis is performed to analyze the effects of the changes in different parameters on the optimal solution. The preliminary results indicate that with the change in parameters influencing on demand, inventory holding, inventory deteriorating and set-up costs change and also significantly affect total revenue. PMID:28306750

  16. Optimal pricing and marketing planning for deteriorating items.

    Science.gov (United States)

    Moosavi Tabatabaei, Seyed Reza; Sadjadi, Seyed Jafar; Makui, Ahmad

    2017-01-01

    Optimal pricing and marketing planning plays an essential role in production decisions on deteriorating items. This paper presents a mathematical model for a three-level supply chain, which includes one producer, one distributor and one retailer. The proposed study considers the production of a deteriorating item where demand is influenced by price, marketing expenditure, quality of product and after-sales service expenditures. The proposed model is formulated as a geometric programming with 5 degrees of difficulty and the problem is solved using the recent advances in optimization techniques. The study is supported by several numerical examples and sensitivity analysis is performed to analyze the effects of the changes in different parameters on the optimal solution. The preliminary results indicate that with the change in parameters influencing on demand, inventory holding, inventory deteriorating and set-up costs change and also significantly affect total revenue.

  17. Energy prices and taxes

    International Nuclear Information System (INIS)

    2004-01-01

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

  18. MARKET ECONOMICS PRICING PARTICULARS

    Directory of Open Access Journals (Sweden)

    V. I. Parshin

    2011-01-01

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

  19. Performance Tests of Three Flow Distributors Using SMART-ITL with 1-Train CMT

    Energy Technology Data Exchange (ETDEWEB)

    Bae, Hwang; Ryu, Sung Uk; Shin, Yong-Cheol; Ko, Yung-Joo; Min, Kyoung-Ho; Ryu, Hyo Bong; Park, Jong-Kuk; Bang, Yun-Gon; Chae, Young-Jong; Yi, Sung-Jae; Park, Hyun-Sik [Korea Atomic Energy Research Institute, Daejeon (Korea, Republic of)

    2014-10-15

    Passive safety systems (PSSs) are key tools to remove the heat from the core or containment. Safety improvements for SMART have been studied since the Standard Design Approval (SDA) for SMART was certificated in 2012. Active safety systems such as safety injection pumps are replaced by a passive system, which is a kind of the gravity injection system with core makeup tanks (CMT) and safety injection tanks (SIT). All tanks for the passive safety systems are located higher than a pressurized reactor vessel, whose injection nozzles are located around the reactor coolant pumps (RCP). An Integral Test Loop for the SMART design (SMART-ITL) has been constructed and its commissioning tests finished in 2012. SMART-ITL is scaled down by the volume scaling methodology. Its height is conserved and its volume scale ratio is 1/49. The SMART-ITL has all fluid systems of SMART together with a break system and instruments. Recently, a test program to validate the performance of SMART Passive Safety System (PSS) was launched. A scaled-down test facility for SMART PSS was additionally installed at the existing SMART-ITL facility and a set of validation tests were performed. In this paper, the performance tests of the flow distributors using SMART-ITL with 1-train CMT will be discussed. A 1-train passive safety system including a CMT and SIT, which is operated only by gravity force, was additionally installed in the SMART-ITL to replace the active safety system for the SMART design. Several performance tests for the flow distributors were carried out to estimate a designed flow rate. 1. The peak flow rate in a hot test does not reach the value in a cold test, and the approaching time to peak is also delayed during the early stage of gravity injection. 2.. It is verified that the flow rate from a gravity injection depends on the differential pressure in the injection pipe line including a friction and form drag, which can be adjusted by controlling the resistance coefficient.

  20. The Hierarchical Trend Model for property valuation and local price indices

    NARCIS (Netherlands)

    Francke, M.K.; Vos, G.A.

    2002-01-01

    This paper presents a hierarchical trend model (HTM) for selling prices of houses, addressing three main problems: the spatial and temporal dependence of selling prices and the dependency of price index changes on housing quality. In this model the general price trend, cluster-level price trends,

  1. Fighting the fan sub war: Conflicts between media rights holders and unauthorized creator/distributor networks

    Directory of Open Access Journals (Sweden)

    Mikhail Koulikov

    2010-09-01

    Full Text Available The way Japanese animation has been spread outside Japan not only by entertainment companies but also by fan groups that have worked to produce fan subs—that is, subtitled translations of films and television shows produced without authorization and shared outside established commercial channels—has been one of the most powerful examples of transformative culture to take place in the last three decades or so. Much has already been written about anime and its global impact, but the process of fan sub creation and distribution, and in particular how these groups have been structured, has not yet been examined in depth. A question that is becoming prominent concerns what happens when the fan subbing culture finally clashes with authorized commercial content distributors. This essay explores the way fan sub distribution has changed over the years and draws on the concept of Net war to illustrate the conflict and the potential tools and methods animation distribution companies have used to engage, subvert, and interdict these groups. This has broad implications for understanding and predicting the flow of other emerging conflicts between networked actors, such as hackers, anarchists, and activists, and hierarchically organized traditional corporate entities.

  2. Giving Is Nicer than Taking: Preschoolers Reciprocate Based on the Social Intentions of the Distributor.

    Directory of Open Access Journals (Sweden)

    Martina Vogelsang

    Full Text Available Recent research has found that even preschoolers give more resources to others who have previously given resources to them, but the psychological bases of this reciprocity are unknown. In our study, a puppet distributed resources between herself and a child by taking some from a pile in front of the child or else by giving some from a pile in front of herself. Although the resulting distributions were identical, three- and five-year-olds reciprocated less generously when the puppet had taken rather than given resources. This suggests that children's judgments about resource distribution are more about the social intentions of the distributor and the social framing of the distributional act than about the amount of resources obtained. In order to rule out that the differences in the children's reciprocal behavior were merely due to experiencing gains and losses, we conducted a follow-up study. Here, three- and-five year olds won or lost resources in a lottery draw and could then freely give or take resources to/from a puppet, respectively. In this study, they did not respond differently after winning vs. losing resources.

  3. Entropy generation analysis of a proton exchange membrane fuel cell (PEMFC) with a fermat spiral as a flow distributor

    International Nuclear Information System (INIS)

    Rangel-Hernandez, V.H.; Damian-Ascencio, C.; Juarez-Robles, D.; Gallegos-Munoz, A.; Zaleta-Aguilar, A.; Plascencia-Mora, H.

    2011-01-01

    The present paper aims at investigating the main sources of irreversibility in a Proton Exchange Membrane Fuel Cell (PEMFC) using a Fermat spiral as flow distributor and also to direct possible improvements in its design. The numerical analysis is based on a finite volume technique with a SIMPLE algorithm as numerical procedure. In order to have a more complete and rigorous analysis a new dimensionless parameter is proposed here. The parameter represents the ratio of the entropy generation due to mass transfer to the total entropy generation is proposed here. Results demonstrate that the main sources of irreversibility in a fuel cell are the concentration losses for the most part of the operational domain, whereas the heat transfer effect is not dominant. -- Highlights: → PEM Fuel Cell with Fermat Spiral as distributor. → Causes of irreversibilities. → A new dimensionless parameter to determine contribution of mass transfer in entropy generation.

  4. Environmental consumerism and its capacity to confer competitive advantage to producers & distributors of specific FMCG brands in Ireland

    OpenAIRE

    Robbins, Peter

    2000-01-01

    This thesis examines the extent to which Green Consumerism has the capacity to confer competitive advantage to the producers and distributors of certain fast moving consumer goods in the Irish retail market. It begins with a review of the literature linking mass consumerism to the major threats which currently beset the environment both on a national and global scale e.g. Ozone depletion and water pollution. The research section focuses on two major consumer markets, laundry detergents an...

  5. 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...

  6. Integration of three echelon supply chain (supplier-manufacturer-distributor-drop shipper) with permissible delay in payment and penalty contract

    Science.gov (United States)

    Ibrahim, M. F.; Suparno

    2018-04-01

    Supply Chain Management (SCM) has to be considered in the company in order to improve the sustainability and competitiveness. SCM executed to integrating any companies on the supply chain in a way of coordinating the flow of goods, information, and financial. Permissible delay in payment is one of the coordination ways with allowing the costumers delay the payments to a vendor in some certain periods without any interest charges. In the supply chain system, drop-shipping player already familiar in this era. In drop-shipping internet retailing, the supplier will hold supplies and also carry out physical distribution service on behalf of drop-shipper. Drop-shipper will just focus on selling, on the other hand, their supplier will be responsible for the physical process. Generally, drop-shipper have information of the customer demands better than the distributor. But, it is also unrare when the drop-shipper send the estimation of demands which bigger than their own estimation in order to maximize their own interest, so they hope supplies of the distributor will always enough to accommodate their demands. Contributions in this research will be focused on integration of three echelons supply chain, which are the supplier, manufacturer, distributor, and drop-shipper. With considering delay in payment on first and second echelons, and also the contract penalty on third echelon. The problem on this research will be modeled in some kind of cases which can represent the problem of real supply chain system. Sensitivity analysis will be done on certain significant variables toward the changes of total supply chain cost. Coordination with delay in payment success to integrate supply chain. Contract penalty plan success to maintain the profit of distributor and drop-shipper.

  7. Preliminary guidelines for electricity distributor conservation and demand management activities : a guide for conservation and demand management investment

    International Nuclear Information System (INIS)

    2004-01-01

    In May 2004, electricity distributors in Ontario were asked to submit deferral accounts to the Ontario Energy Board to track expenditures on conservation and demand management initiatives. The deferral accounts must be established before the distributor could recover the costs through the next installment of the allowable return on equity in March 2004. The Board will determine the appropriateness of the actual expenditures. These guidelines offer short-term assistance to distributors in establishing conservation and demand management plans and initiatives. The following specific measures may be supported by the Board: energy efficiency; operational changes to smart control systems; load management measures which facilitate interruptible and dispatchable loads, dual fuel applications, thermal storage and demand response; fuel switching measures; programs targeted to low income and hard to reach consumers; and, distributed energy options such as tri-generation, cogeneration, ground source heat pumps, wind and biomass systems. These guidelines described the regulatory treatment of conservation and demand management investments along with cost effectiveness, allocation of costs, monitoring, evaluation, and implementation. 1 appendix

  8. Pricing and Trust

    DEFF Research Database (Denmark)

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

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

  9. 7 CFR 1000.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  10. Energy efficieny policy and carbon pricing

    Energy Technology Data Exchange (ETDEWEB)

    Ryan, Lisa; Moarif, Sara; Levina, Ellina; Baron, Richard

    2011-08-15

    The main message of this paper is that while carbon pricing is a prerequisite for least-cost carbon mitigation strategies, carbon pricing is not enough to overcome all the barriers to cost-effective energy efficiency actions. Energy efficiency policy should be designed carefully for each sector to ensure optimal outcomes for a combination of economic, social and climate change goals. This paper aims to examine the justification for specific energy efficiency policies in economies with carbon pricing in place. The paper begins with an inventory of existing market failures that attempt to explain the limited uptake of energy efficiency. These market failures are investigated to see which can be overcome by carbon pricing in two subsectors -- electricity use in residential appliances and heating energy use in buildings. This analysis finds that carbon pricing addresses energy efficiency market failures such as externalities and imperfect energy markets. However, several market and behavioural failures in the two subsectors are identified that appear not to be addressed by carbon pricing. These include: imperfect information; principal-agent problems; and behavioural failures. In this analysis, the policies that address these market failures are identified as complementary to carbon pricing and their level of interaction with carbon pricing policies is relatively positive. These policies should be implemented when they can improve energy efficiency effectively and efficiently (and achieve other national goals such as improving socio-economic efficiency).

  11. Energy Efficiency Policy and Carbon Pricing

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2011-07-01

    The main message of this paper is that while carbon pricing is a prerequisite for least-cost carbon mitigation strategies, carbon pricing is not enough to overcome all the barriers to cost-effective energy efficiency actions. Energy efficiency policy should be designed carefully for each sector to ensure optimal outcomes for a combination of economic, social and climate change goals. This paper aims to examine the justification for specific energy efficiency policies in economies with carbon pricing in place. The paper begins with an inventory of existing market failures that attempt to explain the limited uptake of energy efficiency. These market failures are investigated to see which can be overcome by carbon pricing in two subsectors -- electricity use in residential appliances and heating energy use in buildings. This analysis finds that carbon pricing addresses energy efficiency market failures such as externalities and imperfect energy markets. However, several market and behavioural failures in the two subsectors are identified that appear not to be addressed by carbon pricing. These include: imperfect information; principal-agent problems; and behavioural failures. In this analysis, the policies that address these market failures are identified as complementary to carbon pricing and their level of interaction with carbon pricing policies is relatively positive. These policies should be implemented when they can improve energy efficiency effectively and efficiently (and achieve other national goals such as improving socio-economic efficiency).

  12. Competitive Pricing by a Price Leader

    OpenAIRE

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

    1994-01-01

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

  13. ACCOUNTING ASPECTS OF PRICING AND TRANSFER PRICING

    Directory of Open Access Journals (Sweden)

    TÜNDE VERES

    2011-01-01

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

  14. Pricing Strategy, Pricing Stability and Financial Condition in the Defense Aerospace Industry

    OpenAIRE

    Johnstone, Jeffrey Carl; Keavney, Patrick Daniel

    1987-01-01

    Approved for public release, distribution unlimited The purpose of this research is to determine if pricing strategy and pricing stability for products in the defense aerospace industry can be predicted based on a firm's financial condition. The sample for this research includes 17 contractors and 52 missile and aircraft programs. Two separate issues are addressed. The first issue concerns the relationship between financial condition and contractor pricing strategy. The second concerns the...

  15. Heterogeneity and option pricing

    NARCIS (Netherlands)

    Benninga, Simon; Mayshar, Joram

    2000-01-01

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

  16. Can environmental sustainability be used to manage energy price risk?

    International Nuclear Information System (INIS)

    Henriques, Irene; Sadorsky, Perry

    2010-01-01

    Energy security issues and climate change are two of the most pressing problems facing society and both of these problems are likely to increase energy price variability in the coming years. This paper develops and estimates a model of a company's energy price exposure and presents evidence showing that increases in a company's environmental sustainability lowers its energy price exposure. This result is robust across two different measures of energy prices. These results should be useful to companies seeking new ways of addressing energy price risk as well as governments concerned about the impact that energy price risk can have on economic growth and prosperity. (author)

  17. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

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

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

  18. One TV, One Price?

    OpenAIRE

    Jean Imbs; Haroon Mumtaz; Morten O. Ravn; Hélène Rey

    2009-01-01

    We use a unique dataset on television prices across European countries and regions to investigate the sources of differences in price levels. Our findings are as follows: (i) Quality is a crucial determinant of price differences. Even in an integrated economic zone as Europe, rich economies tend to consume higher quality goods. This effect accounts for the lion’s share of international price dispersion. (ii) Sizable international price differentials subsist even for the same television sets. ...

  19. Value-based pricing

    OpenAIRE

    Netseva-Porcheva Tatyana

    2010-01-01

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

  20. Regime-Switching Risk: To Price or Not to Price?

    Directory of Open Access Journals (Sweden)

    Tak Kuen Siu

    2011-01-01

    “normative” issues to be addressed in pricing contingent claims under a Markovian, regime-switching, Black-Scholes-Merton model. We address this issue using a minimal relative entropy approach. Firstly, we apply a martingale representation for a double martingale to characterize the canonical space of equivalent martingale measures which may be viewed as the largest space of equivalent martingale measures to incorporate both the diffusion risk and the regime-switching risk. Then we show that an optimal equivalent martingale measure over the canonical space selected by minimizing the relative entropy between an equivalent martingale measure and the real-world probability measure does not price the regime-switching risk. The optimal measure also justifies the use of the Esscher transform for option valuation in the regime-switching market.

  1. ACCOUNTING ASPECTS OF PRICING AND TRANSFER PRICING

    OpenAIRE

    TÜNDE VERES

    2011-01-01

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

  2. Access to Paediatric Essential Medicines: A Survey of Prices, Availability, Affordability and Price Components in Shaanxi Province, China

    Science.gov (United States)

    Wang, Xiao; Fang, Yu; Yang, Shimin; Jiang, Minghuan; Yan, Kangkang; Wu, Lina; Lv, Bing; Shen, Qian

    2014-01-01

    Objective To evaluate the prices and availability of paediatric essential medicines in Shaanxi Province, China. Methods Price and availability data for 28 paediatric essential medicines were collected from 60 public hospitals and 60 retail pharmacies in six areas of Shaanxi Province using a standardised methodology developed by the World Health Organization and Health Action International, during November to December 2012. Affordability was measured as the number of days’ wages required for the lowest-paid unskilled government worker to purchase standard treatments for common conditions. Data on medicine price components were collected from hospitals, wholesalers and distributors to obtain price mark-ups. Findings The mean availabilities of originator brands (OBs) and lowest-priced generics (LPGs) were 10.8% and 27.3% in the public hospitals and 11.9% and 20.6% in the private pharmacies. The public procurement and retail prices were 2.25 and 2.59 times the international reference prices (IRPs) for three OBs, and 0.52 and 0.93 times for 20 LPGs. In the private sector, the final prices for OBs and LPGs were 3.89 and 1.25 times their IRPs. The final price in the private sector was 2.7% lower than in the public sector for OBs, and 14.1% higher for LPGs. Generally, standard treatments cost less than 1 day’s wages in both sectors. Distribution mark-ups applied to brand salbutamol in Xi'an was 65.5%, and up to 185.3% for generic. Cumulative mark-ups for LPGs in Ankang were also high, from 33% to 50%. The manufacturer’s selling price is the largest contributor to the final price in both areas. Conclusions The government should approve a list of national paediatric essential medicines. The availability, price and affordability of these should be improved in both public hospitals and private pharmacies to enable children to obtain effective treatment. Measures should be taken to improve the efficiency of the centralised medicine purchasing system. PMID:24595099

  3. Access to paediatric essential medicines: a survey of prices, availability, affordability and price components in Shaanxi Province, China.

    Directory of Open Access Journals (Sweden)

    Xiao Wang

    Full Text Available OBJECTIVE: To evaluate the prices and availability of paediatric essential medicines in Shaanxi Province, China. METHODS: Price and availability data for 28 paediatric essential medicines were collected from 60 public hospitals and 60 retail pharmacies in six areas of Shaanxi Province using a standardised methodology developed by the World Health Organization and Health Action International, during November to December 2012. Affordability was measured as the number of days' wages required for the lowest-paid unskilled government worker to purchase standard treatments for common conditions. Data on medicine price components were collected from hospitals, wholesalers and distributors to obtain price mark-ups. FINDINGS: The mean availabilities of originator brands (OBs and lowest-priced generics (LPGs were 10.8% and 27.3% in the public hospitals and 11.9% and 20.6% in the private pharmacies. The public procurement and retail prices were 2.25 and 2.59 times the international reference prices (IRPs for three OBs, and 0.52 and 0.93 times for 20 LPGs. In the private sector, the final prices for OBs and LPGs were 3.89 and 1.25 times their IRPs. The final price in the private sector was 2.7% lower than in the public sector for OBs, and 14.1% higher for LPGs. Generally, standard treatments cost less than 1 day's wages in both sectors. Distribution mark-ups applied to brand salbutamol in Xi'an was 65.5%, and up to 185.3% for generic. Cumulative mark-ups for LPGs in Ankang were also high, from 33% to 50%. The manufacturer's selling price is the largest contributor to the final price in both areas. CONCLUSIONS: The government should approve a list of national paediatric essential medicines. The availability, price and affordability of these should be improved in both public hospitals and private pharmacies to enable children to obtain effective treatment. Measures should be taken to improve the efficiency of the centralised medicine purchasing system.

  4. Topics on Electricity Transmission Pricing

    Energy Technology Data Exchange (ETDEWEB)

    Bjoerndal, Mette

    2000-02-01

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

  5. Topics in Electricity Transmission Pricing

    Energy Technology Data Exchange (ETDEWEB)

    Bjoerndal, Mette

    2000-02-01

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

  6. Topics on Electricity Transmission Pricing

    International Nuclear Information System (INIS)

    Bjoerndal, Mette

    2000-02-01

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

  7. Exporter Price Premia?

    DEFF Research Database (Denmark)

    Jäkel, Ina Charlotte; Sørensen, Allan

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

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

    OpenAIRE

    Panasenko Tetyana

    2015-01-01

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

  9. 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

  10. Valuation Struggles over Pricing

    DEFF Research Database (Denmark)

    Pallesen, Trine

    2016-01-01

    of creating political markets, and political prices, here understood as market distortion. This paper studies the ‘politics’ of pricing by following the adoption of the first feed-in tariff in France. Pricing as a way of achieving non-economic ends, such as climate mitigation, brings the values of several...... public goods into play, all the while prompting a translation of these values into a single price. Following the struggles over the pricing of wind power in the early 2000s, the study illustrates that rather than a pollution of the market sphere by that of politics, a politics of pricing can be observed...

  11. Self-certification and employee training of mail-order distributors of scheduled listed chemical products. Interim final rule with request for comment.

    Science.gov (United States)

    2011-04-13

    On October 12, 2010, the President signed the Combat Methamphetamine Enhancement Act of 2010 (MEA). It establishes new requirements for mail-order distributors of scheduled listed chemical products. Mail-order distributors must now self-certify to DEA in order to sell scheduled listed chemical products at retail. Sales at retail are those sales intended for personal use; mail-order distributors that sell scheduled listed chemical products not intended for personal use, e.g., sale to a university, are not affected by the new law. This self-certification must include a statement that the mail-order distributor understands each of the requirements that apply under part 1314 and agrees to comply with these requirements. Additionally, mail-order distributors are now required to train their employees prior to self certification. DEA is promulgating this rule to incorporate the statutory provisions and make its regulations consistent with the new requirements and other existing regulations related to self-certification.

  12. PRICES IN COMPETITIVE SYSTEM

    Directory of Open Access Journals (Sweden)

    VADUVA MARIA

    2017-08-01

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

  13. Retail Price Model

    Science.gov (United States)

    The Retail Price Model is a tool to estimate the average retail electricity prices - under both competitive and regulated market structures - using power sector projections and assumptions from the Energy Information Administration.

  14. Natural gas pricing

    International Nuclear Information System (INIS)

    Freedenthal, C.

    1993-01-01

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

  15. Drug Pricing Reforms

    DEFF Research Database (Denmark)

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

    2015-01-01

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

  16. Forecasting Long-Run Electricity Prices

    International Nuclear Information System (INIS)

    Hamm, Gregory; Borison, Adam

    2006-01-01

    Estimation of long-run electricity prices is extremely important but it is also very difficult because of the many uncertainties that will determine future prices, and because of the lack of sufficient historical and forwards data. The difficulty is compounded when forecasters ignore part of the available information or unnecessarily limit their thinking about the future. The authors present a practical approach that addresses these problems. (author)

  17. BUSINESS MODELS FOR TAX AND TRANSFER PRICING PURPOSES

    Directory of Open Access Journals (Sweden)

    Corlaciu Alexandra

    2013-07-01

    Full Text Available In order to remain competitive, the multinational enterprises (MNEs are forced by the globalization phenomenon (which manifestation has became more and more stringent to analyze continuously its effectiveness. In this respect, the structure of the business represents an element which might have an important impact for the enterprise’s overall results. This is why, in the last decades, the MNEs granted special attention to business structures and put significant efforts in business restructurings, where the case, with the scope to keep the efficiency and to remain on the market. Generally, the operational business restructuring process follows one of the business model globally developed, namely manufacturer or sales business models. Thus, according to the functions performed, assets used and risks assumed, the entities within the group are labeled into limited risk units (such as toll manufacturer or commission agent, medium risk (contract manufacturer, commissionaire, stripped distributor or high risk units (fully fledged manufacturer, fully fledged distributor. Notwithstanding the above, there should be emphasized that the operational business restructuring has to be undertaken with maximal care, as it might have important fiscal impact. Having this regard, the purpose of the present investigation is to provide, from a tax and transfer pricing point of view, a systematic and structured analysis of the generally characteristics of business models (manufacturer and sales business models used by multinational enterprises in the process of business reorganization, with the scope to increase their performance and the sustainable competitive advantages. Thus, by using the fundamental (theoretical and qualitative research type, this paper is aiming to present the most important characteristics of each business model (general overview of each model, the principal risk assumed, the usual transfer pricing method used for the remuneration of intra

  18. Hedonic price theory: Concept and applications

    International Nuclear Information System (INIS)

    Metz, W.C.; Lowry, J.; Morey, M.

    1990-01-01

    Direct and indirect techniques are being used to estimate economic consequences of proximity to existing or proposed public facilities. The hedonic price theory, an indirect technique, is the most logically suited, especially for capturing the shadow or implicit price of a characteristic such as proximity in the real estate market. While the theory is increasingly being used, there is also a growing tendency to draw inferences from the study of one or more hazards and situations and transfer the conclusions to a very different hazard and situation. The use of the hedonic price theory and the issue of transferability to radioactive waste facilities are addressed in this paper. 12 refs

  19. Consumer poaching, brand switching, and price transparency

    DEFF Research Database (Denmark)

    Schultz, Christian

    2014-01-01

    This paper addresses price transparency on the consumer side in markets with behavioral price discrimination which feature welfare reducing brand switching. When long-term contracts are not available, an increase in transparency intensifies competition, lowers prices and profits, reduces brand...... switching and benefits consumers and welfare. With long-term contracts, an increase in transparency reduces the use of long-term contracts, leading to more brand switching and a welfare loss. Otherwise, the results are the same as without long-term contracts....

  20. NUKEM adjusts price definitions

    International Nuclear Information System (INIS)

    Anon.

    1994-01-01

    This article is the October-November 1994 market report, providing trading volume and prices in the Uranium market. During this period, there were five deals in the spot concentrates market, five deals in the medium and long-term market, one deal in the conversion market, and two deals in the enrichment market. Restricted prices strengthened while unrestricted prices held steady. Price re-definitions were also announced

  1. Delegating Pricing Decisions

    OpenAIRE

    Pradeep Bhardwaj

    2001-01-01

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

  2. 3D casing-distributor analysis with a novel block coupled OpenFOAM solver for hydraulic design application

    International Nuclear Information System (INIS)

    Devals, C; Zhang, Y; Dompierre, J; Guibault, F; Vu, T C; Mangani, L

    2014-01-01

    Nowadays, computational fluid dynamics is commonly used by design engineers to evaluate and compare losses in hydraulic components as it is less expensive and less time consuming than model tests. For that purpose, an automatic tool for casing and distributor analysis will be presented in this paper. An in-house mesh generator and a Reynolds Averaged Navier-Stokes equation solver using the standard k-ω SST turbulence model will be used to perform all computations. Two solvers based on the C++ OpenFOAM library will be used and compared to a commercial solver. The performance of the new fully coupled block solver developed by the University of Lucerne and Andritz will be compared to the standard 1.6ext segregated simpleFoam solver and to a commercial solver. In this study, relative comparisons of different geometries of casing and distributor will be performed. The present study is thus aimed at validating the block solver and the tool chain and providing design engineers with a faster and more reliable analysis tool that can be integrated into their design process

  3. 21 CFR 821.30 - Tracking obligations of persons other than device manufacturers: distributor requirements.

    Science.gov (United States)

    2010-04-01

    ... name, address, telephone number, and social security number (if available) of the patient receiving the...; (ii) The name, address, telephone number, and social security number (if available) of the patient... when applicable, the date the device was explanted, the date of the patient's death, or the date the...

  4. Three essays on access pricing

    Science.gov (United States)

    Sydee, Ahmed Nasim

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

  5. Price competition on graphs

    NARCIS (Netherlands)

    Soetevent, A.R.

    2010-01-01

    This paper extends Hotelling's model of price competition with quadratic transportation costs from a line to graphs. I propose an algorithm to calculate firm-level demand for any given graph, conditional on prices and firm locations. One feature of graph models of price competition is that spatial

  6. Press point on prices

    International Nuclear Information System (INIS)

    Schilansky, J.L.

    2005-06-01

    This document presents information and statistical data on the prices of the crude oils, refining and petroleum products, at the date of the 28 June 2005: evolution of the barrel price, supply and demand, geo-policy, consumption, diesel and gasoline, prices at the service station. (A.L.B.)

  7. Price control and macromarketing

    Directory of Open Access Journals (Sweden)

    Kancir Rade

    2003-01-01

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

  8. Simulating Price-Taking

    Science.gov (United States)

    Engelhardt, Lucas M.

    2015-01-01

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

  9. Dutch house price fundamentals

    NARCIS (Netherlands)

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

    2009-01-01

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

  10. Online distribution of digital cultural products : are legal distributors strong enough against piracy?

    OpenAIRE

    Saumard, Mélodie

    2013-01-01

    In 2012, the music industry is showing positive growth for the first time in fifteen years. The same year, Game of Thrones is declared the most pirated TV series with an average of 4.28 million illegal downloads for each episode. Ever since the creation of Napster in 1998, online piracy became a common practice which is weakly reprehended socially-speaking. The starting point for our work was Gabe Newell's idea that piracy is not a matter of price but a problem of service rende...

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

    OpenAIRE

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

    2004-01-01

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

  12. Why are product prices in online markets not converging?

    Directory of Open Access Journals (Sweden)

    Takayuki Mizuno

    Full Text Available Why are product prices in online markets dispersed in spite of very small search costs? To address this question, we construct a unique dataset from a Japanese price comparison site, which records price quotes offered by e-retailers as well as customers' clicks on products, which occur when they proceed to purchase the product. The novelty of our approach is that we seek to extract useful information on the source of price dispersion from the shape of price distributions rather than focusing merely on the standard deviation or the coefficient of variation of prices, as previous studies have done. We find that the distribution of prices retailers quote for a particular product at a particular point in time (divided by the lowest price follows an exponential distribution, showing the presence of substantial price dispersion. For example, 20 percent of all retailers quote prices that are more than 50 percent higher than the lowest price. Next, comparing the probability that customers click on a retailer with a particular rank and the probability that retailers post prices at a particular rank, we show that both decline exponentially with price rank and that the exponents associated with the probabilities are quite close. This suggests that the reason why some retailers set prices at a level substantially higher than the lowest price is that they know that some customers will choose them even at that high price. Based on these findings, we hypothesize that price dispersion in online markets stems from heterogeneity in customers' preferences over retailers; that is, customers choose a set of candidate retailers based on their preferences, which are heterogeneous across customers, and then pick a particular retailer among the candidates based on the price ranking.

  13. Why Are Product Prices in Online Markets Not Converging?

    Science.gov (United States)

    Mizuno, Takayuki; Watanabe, Tsutomu

    2013-01-01

    Why are product prices in online markets dispersed in spite of very small search costs? To address this question, we construct a unique dataset from a Japanese price comparison site, which records price quotes offered by e-retailers as well as customers’ clicks on products, which occur when they proceed to purchase the product. The novelty of our approach is that we seek to extract useful information on the source of price dispersion from the shape of price distributions rather than focusing merely on the standard deviation or the coefficient of variation of prices, as previous studies have done. We find that the distribution of prices retailers quote for a particular product at a particular point in time (divided by the lowest price) follows an exponential distribution, showing the presence of substantial price dispersion. For example, 20 percent of all retailers quote prices that are more than 50 percent higher than the lowest price. Next, comparing the probability that customers click on a retailer with a particular rank and the probability that retailers post prices at a particular rank, we show that both decline exponentially with price rank and that the exponents associated with the probabilities are quite close. This suggests that the reason why some retailers set prices at a level substantially higher than the lowest price is that they know that some customers will choose them even at that high price. Based on these findings, we hypothesize that price dispersion in online markets stems from heterogeneity in customers’ preferences over retailers; that is, customers choose a set of candidate retailers based on their preferences, which are heterogeneous across customers, and then pick a particular retailer among the candidates based on the price ranking. PMID:24015219

  14. Allegheny County Addressing Landmarks

    Data.gov (United States)

    Allegheny County / City of Pittsburgh / Western PA Regional Data Center — This dataset contains address points which represent physical address locations assigned by the Allegheny County addressing authority. Data is updated by County...

  15. Allegheny County Address Points

    Data.gov (United States)

    Allegheny County / City of Pittsburgh / Western PA Regional Data Center — This dataset contains address points which represent physical address locations assigned by the Allegheny County addressing authority. Data is updated by County...

  16. 77 FR 2680 - Defense Federal Acquisition Regulation Supplement; Definition of Cost or Pricing Data

    Science.gov (United States)

    2012-01-19

    ... Regulation Supplement; Definition of Cost or Pricing Data AGENCY: Defense Acquisition Regulations System... Acquisition Regulation Supplement (DFARS) to update text addressing the definition of cost or pricing data... update the DFARS for consistency with FAR changes addressing the definition of cost or pricing data...

  17. Pricing of Marine Products and Services in the Modular Age

    DEFF Research Database (Denmark)

    Jiang, Liping; Al-Ajlouni, Omar

    WHAT IS THE ISSUE? Pricing can be a particular challenging issue for marine suppliers with multiple products and services especially when suppliers want to address specific customer needs and at the same time achieves the efficiency in pricing. WHY IS IT IMPORTANT? Appropriate pricing of products-and-services...... in the market. Lastly, customer satisfaction and loyalty will be increased accordingly. WHAT CAN BE DONE? The pricing challenge for multiple products and services can be overcome by applying the modular concept on pricing, where each product or service is offered as a module, so suppliers can either set...

  18. Value-based pricing

    Directory of Open Access Journals (Sweden)

    Netseva-Porcheva Tatyana

    2010-01-01

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

  19. A decision-making tool to determine economic feasibility and break-even prices for artisan cheese operations.

    Science.gov (United States)

    Durham, Catherine A; Bouma, Andrea; Meunier-Goddik, Lisbeth

    2015-12-01

    Artisan cheese makers lack access to valid economic data to help them evaluate business opportunities and make important business decisions such as determining cheese pricing structure. The objective of this study was to utilize an economic model to evaluate the net present value (NPV), internal rate of return, and payback period for artisan cheese production at different annual production volumes. The model was also used to determine the minimum retail price necessary to ensure positive NPV for 5 different cheese types produced at 4 different production volumes. Milk type, cheese yield, and aging time all affected variable costs. However, aged cheeses required additional investment for aging space (which needs to be larger for longer aging times), as did lower yield cheeses (by requiring larger-volume equipment for pasteurization and milk handling). As the volume of milk required increased, switching from vat pasteurization to high-temperature, short-time pasteurization was necessary for low-yield cheeses before being required for high-yield cheeses, which causes an additional increase in investment costs. Because of these differences, high-moisture, fresh cow milk cheeses can be sold for about half the price of hard, aged goat milk cheeses at the largest production volume or for about two-thirds the price at the lowest production volume examined. For example, for the given model assumptions, at an annual production of 13,608kg of cheese (30,000 lb), a fresh cow milk mozzarella should be sold at a minimum retail price of $27.29/kg ($12.38/lb), whereas a goat milk Gouda needs a minimum retail price of $49.54/kg ($22.47/lb). Artisan cheese makers should carefully evaluate annual production volumes. Although larger production volumes decrease average fixed cost and improve production efficiency, production can reach volumes where it becomes necessary to sell through distributors. Because distributors might pay as little as 35% of retail price, the retail price needs

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

    International Nuclear Information System (INIS)

    1999-03-01

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

  1. 7 CFR 1131.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  2. 7 CFR 1005.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  3. 7 CFR 1124.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  4. 7 CFR 1126.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  5. 7 CFR 1032.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  6. 7 CFR 1030.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

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

    Science.gov (United States)

    2010-01-01

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

  8. 7 CFR 1001.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  9. 7 CFR 1007.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  10. 7 CFR 1006.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  11. Arbitrage Pricing, Capital Asset Pricing, and Agricultural Assets

    OpenAIRE

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

    1988-01-01

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

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

    Directory of Open Access Journals (Sweden)

    Panasenko Tetyana

    2015-11-01

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

  13. An investigation of the pricing attitudes and practices of Korean business

    OpenAIRE

    Hyun, Soeun

    1988-01-01

    The purpose of this study was to explore issues related to the development of pricing strategies. Important questions addressed included the importance of this topic and a description of how prices are set or why prices are set. Also, the concern of whether these issues are general across major types of pricing decisions, or specific to certain pricing decisions was investigated. Particularly, this study reviewed the descriptive survey research or case studies that have been do...

  14. The Interrelated Effects of Culture and Relationship Quality on the Relations Between Portuguese Exporters and Angolan Distributors

    Directory of Open Access Journals (Sweden)

    Gisela Alves

    2013-11-01

    Full Text Available The objective of this research is to investigate the role of the relationship quality and culture between Portuguese companies and their export market intermediaries in Angola. In particular, we aim to understand the importance that the quality of the relationship has and the role of cultures in export activities. In terms of methodology we opted for a qualitative analysis; we present the results of two case studies of Portuguese exporting companies and one case study on an Angolan intermediate. In general, the results show that the business relationships are influenced by trust, commitment, culture and similar values. As known, Angola was once a Portuguese colony, so communication is easy because these countries share some common cultural traits. Such factors will influence the trade relations between Portuguese exporters and their Angolan distributors.

  15. STS pricing policy

    Science.gov (United States)

    Lee, C. M.; Stone, B.

    1982-01-01

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

  16. Target Price Accuracy

    Directory of Open Access Journals (Sweden)

    Alexander G. Kerl

    2011-04-01

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

  17. CO2 price dynamics. The implications of EU emissions trading for electricity prices and operations

    International Nuclear Information System (INIS)

    Sijm, J.P.M.; Bakker, S.J.A.; Harmsen, H.W.; Lise, W.; Chen, Y.

    2006-07-01

    The experience with CO 2 trading and allowances prices in the last year is reviewed, with a focus on the factors influencing the price of electricity in EU countries. A statistical analysis investigates the relationship between the large increases in electricity prices experienced in 2005 and their relationship to CO 2 prices. In addition, a market simulation analysis using the COMPETES model is performed to assess the extent to which profit-maximizing generators, some of which possess market power, might pass on the opportunity cost of allowances to consumers. The paper concludes by reviewing possible options for policy makers to address the possible adverse implications of price increases caused by CO/sub 2/ trading.

  18. Estimating commercial property prices: an application of cokriging with housing prices as ancillary information

    Science.gov (United States)

    Montero-Lorenzo, José-María; Larraz-Iribas, Beatriz; Páez, Antonio

    2009-12-01

    A vast majority of the recent literature on spatial hedonic analysis has been concerned with residential property values, with only very few examples of studies focused on commercial property prices. The dearth of studies can be attributed to some of the challenges faced in the analysis of commercial properties, in particular the scarcity of information compared to residential transactions. In order to address this issue, in this paper we propose the use of cokriging and housing prices as ancillary information to estimate commercial property prices. Cokriging takes into account the spatial autocorrelation structure of property prices, and the use of more abundant information on housing prices helps to improve the accuracy of property value estimates. A case study of Toledo in Spain, a city for which commercial activity stemming from tourism is one of the key elements of the economy in the city, demonstrates that substantial accuracy and precision gains can be obtained from the use of cokriging.

  19. Gasoline prices and the public interest

    International Nuclear Information System (INIS)

    1997-12-01

    The concerns that have been raised about gasoline prices in Newfoundland were addressed and the reasons why they differ significantly from one part of Newfoundland to another were examined. A research and investigation program was established to identify the factors contributing to the price of, and price variation in gasoline sold in the province. Companies directly involved in the gasoline retail business in the province were invited to answer an extensive questionnaire which asked detailed, confidential information concerning the company's operations. This report contains the results of the analysis of the responses, and provides a comprehensive picture of the operation of the petroleum industry. It also contains a series of recommendations for the government with respect to monitoring price fluctuations, gathering data about the industry, and constructing an independently owned and operated terminal storage facility. The report recommends against direct regulation. tabs., figs

  20. Capital Gains Taxation and House Price Fluctuations

    DEFF Research Database (Denmark)

    Fuest, Clemens; Nielsen, Søren Bo

    2004-01-01

    Recent years have seen large swings in house prices in many countries. Motivated by housing price variations, proposals for taxing capital gains on housing have repeatedly been put forth. The idea seems to be that such taxes would curb the redistribution occurring between those owning houses...... and those trying to get into the market for owner-occupied housing. Our paper shows that at least in simple settings, a tax on real capital gains on housing will only lead to even bigger price swings and will not be able to redistribute between people appearing on either side of the housing market.......Keywords: capital gains tax, housing market, price fluctuationsJEL-Classification: H23, H24, R 31.Addresses:...

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

    Energy Technology Data Exchange (ETDEWEB)

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

    2009-11-15

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

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

    International Nuclear Information System (INIS)

    Meyler, Aidan

    2009-01-01

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

  3. Pricing of new vaccines

    OpenAIRE

    Lee, Bruce Y; McGlone, Sarah M

    2010-01-01

    New vaccine pricing is a complicated process that could have substantial long-standing scientific, medical and public health ramifications. Pricing can have a considerable impact on new vaccine adoption and, thereby, either culminate or thwart years of research and development and public health efforts. Typically, pricing strategy consists of the following eleven components: (1) Conduct a target population analysis; (2) Map potential competitors and alternatives; (3) Construct a vaccine targe...

  4. Land Prices and Fundamentals

    OpenAIRE

    Koji Nakamura; Yumi Saita

    2007-01-01

    This paper examines the long-term relationship between macro economic fundamentals and the weighted-average land price indicators, which are supposed to be more appropriate than the official land price indicators when analyzing their impacts on the macro economy. In many cases, we find the cointegrating relationships between the weighted-average land price indicators and the discounted present value of land calculated based on the macro economic fundamentals indicators. We also find that the ...

  5. Introduction to pricing issues

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

    This chapter provides an overview of pricing issues the proper pricing of transmission services is essential to efficient operation of the grid. Wheeling rights have little meaning if capacity on existing lines is scarce and there is no incentive to build new lines. Depending on the type of transmission pricing policies FERC adopts, the Commission may be able to encourage more voluntary wheeling service, and to influence decisions to build or upgrade the supply of facilities

  6. Cost and Price Collaboration

    Science.gov (United States)

    2016-04-30

    described below which relies on questionnaires administered to subject matter experts in both cost analysis and price analysis to determine the value of...additional reports or data that the price analyst used in determining their final negotiated position. The cost analyst section of the questionnaire...an analysis at the individual element level rather than at a total price level to determine the major changes from the awarded contract to the new

  7. 1988 coal price negotiation

    Energy Technology Data Exchange (ETDEWEB)

    Senmura, Akira

    1988-12-01

    In the negotiation on raw coal price for 1988, which began at the end of 1987, Australia requested price rise of 4 - 5 dollars for the reason of rise of Australian dollars, conditions of mines, price drop in the past five years, and world supply/demand of coal. Japan insisted to maintain the price of preceding year. The talk ended in a dead lock which could last a long time. Negotiation on the Canadian coal price also encountered difficulties but an agreement was obtained in March as Japan accepted the increased price. After which, Japan and Australia agreed to raise the price by 2.90 dollars and an increase over last year. Producing countries also requested a wide price rise as 7.50 dollars for general coal, making in this area very difficult to progress. Finally, they agreed to raise the price by 6.30 dollars and the electric power utility in Japan responded by importing of U.S. coal, which has a lower heat output but is also cheaper. It depends on Australia for 70% of coal supply but started to diversify the source. 3 tabs.

  8. Are internet prices sticky?

    OpenAIRE

    Lünnemann, Patrick; Wintr, Ladislav

    2006-01-01

    This paper studies the behaviour of Internet prices. It compares price rigidities on the Internet and in traditional brick-and-mortar stores and provides a cross-country perspective. The data set covers a broad range of items typically sold over the Internet. It includes more than 5 million daily price quotes downloaded from price comparison web sites in France, Germany, Italy, the UK and the US. The following results emerge from our analysis. First, and contrary to the recent findings for co...

  9. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

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

    2014-01-01

    Reference prices constitute a main determinant of patient health care reimbursement in many countries. We study the effects of a change from an "external" (based on a basket of prices in other countries) to an "internal" (based on comparable domestic products) reference price system. We find...... that while our estimated consumer compensating variation is small, the reform led to substantial reductions in list and reference prices as well as co-payments, and to sizeable decreases in overall producer revenues, health care expenditures, and co-payments. These effects differ markedly between branded...

  10. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

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

    Reference prices constitute a main determinant of patient health care reimbursement in many countries. We study the effects of a change from an "external" (based on a basket of prices in other countries) to an "internal" (based on comparable domestic products) reference price system. We find...... that while our estimated consumer compensating variation is small, the reform led to substantial reductions in list and reference prices as well as co-payments, and to sizeable decreases in overall producer revenues, health care expenditures, and co-payments. These effects differ markedly between branded...

  11. Alternative pricing methodologies

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

    With the increased interest in competitive market forces and growing recognition of the deficiencies in current practices, FERC and others are exploring alternatives to embedded cost pricing. A number of these alternatives are discussed in this chapter. Marketplace pricing, discussed briefly here, is the subject of the next chapter. Obviously, the pricing formula may combine several of these methodologies. One utility of which the authors are aware is seeking a price equal to the sum of embedded costs, opportunity costs, line losses, value of service, FERC's percentage adder formula and a contract service charge

  12. Vertical price transmission in the Danish food chain

    DEFF Research Database (Denmark)

    Jensen, Jørgen Dejgård; Møller, Anja Skadkær

    2005-01-01

    This purpose of this paper is to investigate price transmission patterns through selected Danish food chains – from primary production to processing, from processing to wholesale and from wholesale to retail prices. Specifically, the study addresses the following research questions: To what extent...... are commodity prices transmitted from one stage to another in the food chain? What is the time horizon in the price transmission? Is price transmission symmetric – in the short run and in the long run? Is the degree of price transmission affected by the degree of concentration in the supply and demand stage...... considered? These questions are analysed theoretically and empirically using econometric analysis. 6 food chains are investigated: pork, chicken, eggs, milk, sugar and apples. Preliminary empirical results suggest that for most commodities, price transmission tends to be upward asymmetric, i.e. stronger...

  13. Determinants of contractor pricing strategy

    OpenAIRE

    Moses, O. Douglas

    1988-01-01

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

  14. Customizing Prices in Online Markets

    OpenAIRE

    Werner Reinartz

    2002-01-01

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

  15. Equitable Prices of Single-Source Drugs in Thailand.

    Science.gov (United States)

    Ngorsuraches, Surachat; Chaiyakan, Kanokkan

    2015-08-01

    In Thailand, total drug expenditure has grown rapidly. Recently, the Thai government has addressed the issue of drug pricing, but the prices of single-source drugs remain a major challenge. To examine equitable prices of single-source drugs in Thailand. A total of 98 single-source and high-expenditure drugs were examined. Unit prices from the Drug and Medical Supplies Information Center (DMSIC) and National Average Drug Acquisition Cost (NADAC) were used to represent drug prices at the provider level in Thailand and the U.S., respectively. Data for measuring drug affordability, e.g., dose and poverty line, were obtained from Micromedex online and the National Statistical Office (NSO). The U.S. drug prices were adjusted by the Human Development Index (HDI) to be equitable prices for Thailand. Purchasing Power Parity (PPP) was used to convert US currency into Thai baht. All prices in this study were based on the year 2012. Catastrophic, Impoverishment, and WHO/Health Action International (HAI) approaches were used to determine Thai citizens' ability to afford the study drugs. Finally, uncertainty analyses were conducted. From all study drugs, 55 single-source drugs were priced higher than their equitable prices, ranging from 0.38 to 422.36% higher. Among these, 28 items were antineoplastic drugs. The prices of drugs outside the National List of Essential Medicines (NLEM), as well as the country's newer drugs, tended to be higher than their calculated equitable prices. The majority of drugs in Thailand priced higher than equitable prices were unaffordable for most Thai citizens. The uncertainty analyses revealed that almost all results were relatively robust. Most single-source drug prices in Thailand were higher than their equitable prices, and were likely to be unaffordable to Thai citizens.

  16. Model Calibration in Option Pricing

    Directory of Open Access Journals (Sweden)

    Andre Loerx

    2012-04-01

    Full Text Available We consider calibration problems for models of pricing derivatives which occur in mathematical finance. We discuss various approaches such as using stochastic differential equations or partial differential equations for the modeling process. We discuss the development in the past literature and give an outlook into modern approaches of modelling. Furthermore, we address important numerical issues in the valuation of options and likewise the calibration of these models. This leads to interesting problems in optimization, where, e.g., the use of adjoint equations or the choice of the parametrization for the model parameters play an important role.

  17. License Address List

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Address list generated from National Saltwater Angler Registry. Used in conjunction with an address-based sample as per survey design.

  18. Reach Address Database (RAD)

    Data.gov (United States)

    U.S. Environmental Protection Agency — The Reach Address Database (RAD) stores the reach address of each Water Program feature that has been linked to the underlying surface water features (streams,...

  19. Intranational Price Convergence and Price Stickiness

    DEFF Research Database (Denmark)

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

    2017-01-01

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

  20. Establishing National Carbon Emission Prices for China

    NARCIS (Netherlands)

    C-L. Chang (Chia-Lin); T.K. Mai (Te-Ke); M.J. McAleer (Michael)

    2018-01-01

    textabstractThe purpose of the paper is to establish national carbon emissions prices for the People’s Republic of China, which is one of the world’s largest producers of carbon emissions. Several measures have been undertaken to address climate change in China, including the establishment of a

  1. Beyond Fees and Charges: The Need for a Pricing Strategy.

    Science.gov (United States)

    Tugman, Sarah Jones

    1985-01-01

    As citizens demand governmental accountability, recreation agencies must devote attention to determining the cost of programs and to justifying the fee structure assigned to each program. This article addresses the need for proper pricing and offers a plan for establishing a pricing strategy. (MT)

  2. Price elasticity of demand for psychiatric consultation in a Nigerian ...

    African Journals Online (AJOL)

    Objective: This paper addresses price elasticity of demand (PED) in a region where most patients make payments for consultations out of pocket. PED is a measure of the responsiveness of the quantity demanded of goods or services to changes in price. The study was done in the context of an outpatient psychiatric clinic in ...

  3. The Impact of Price Disclosure on Dynamic Shopping Decisions

    NARCIS (Netherlands)

    B.G.C. Dellaert (Benedict); V.Y. Golounov (Vladislav); J. Prabhu (Jaideep)

    2005-01-01

    textabstractA potentially powerful way to assist consumers in making dynamic shopping decisions is to disclose price information to them before they shop, for example by posting prices on the Internet. This paper addresses the differential impact of disclosing either only current, or both current

  4. Price learning during grocery shopping

    DEFF Research Database (Denmark)

    Jensen, Birger Boutrup

    Many attempts have been made to measure consumers' price knowledge for groceries. However, the results have varied considerably and conflict with results of reference price research. This is the first study to examine price knowledge before, during, and after store visit, thus enabling a study...... of what consumers learn about prices during grocery shopping. Three measures of price knowledge corresponding to different levels of price information processing were applied. Results indicate that price learning does take place and that episodic price knowledge after store exit is far more widespread...... than expected. Consequently, a new view of how consumer price knowledge evolves during grocery shopping is presented....

  5. Assessing Asset Pricing Anomalies

    NARCIS (Netherlands)

    W.A. de Groot (Wilma)

    2017-01-01

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

  6. Poverty and price transmission

    DEFF Research Database (Denmark)

    Elleby, Christian

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

  7. Essays on asset pricing

    NARCIS (Netherlands)

    Nazliben, Kamil

    2015-01-01

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

  8. Pricing transmission services

    International Nuclear Information System (INIS)

    Haaden, E.

    1995-01-01

    The price structure for transmission of electric power through the main lines in Sweden is analyzed. After deregulation of the electricity market, the main transmission lines are owned by a separate national company, with no interests from the power producers. Comparisons are made to ideal marginal price structures. 6 refs

  9. Selecting Lower Priced Items.

    Science.gov (United States)

    Kleinert, Harold L.; And Others

    1988-01-01

    A program used to teach moderately to severely mentally handicapped students to select the lower priced items in actual shopping activities is described. Through a five-phase process, students are taught to compare prices themselves as well as take into consideration variations in the sizes of containers and varying product weights. (VW)

  10. Petroleum: Price trends

    International Nuclear Information System (INIS)

    Babusiaux, Denis; Pierru, Axel

    2010-01-01

    The Organization of Petroleum-Exporting Countries (OPEC), some political leaders and financiers have mainly attributed the price spike of oil in 2008 - followed by a just as spectacular drop in prices - to the speculative moves made by financial investors on the futures market instead of to market fundamentals

  11. Pricing Mechanism in Information Goods

    OpenAIRE

    Li, Xinming; Wang, Huaqing

    2018-01-01

    We study three pricing mechanisms' performance and their effects on the participants in the data industry from the data supply chain perspective. A win-win pricing strategy for the players in the data supply chain is proposed. We obtain analytical solutions in each pricing mechanism, including the decentralized and centralized pricing, Nash Bargaining pricing, and revenue sharing mechanism.

  12. Price Formation by Bargaining and Posted Prices

    NARCIS (Netherlands)

    Kultti, K.K.

    1997-01-01

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

  13. How to Find the Price That's Right.

    Science.gov (United States)

    Crompton, John L.

    1981-01-01

    Five primary methods used by recreation and park agencies to establish a price are reviewed: (1) going-rate pricing; (2) demand oriented pricing; (3) variable cost pricing; (4) partial overhead pricing; and (5) average cost pricing. (CJ)

  14. Policy on energy pricing

    Energy Technology Data Exchange (ETDEWEB)

    Webb, M. G.

    1977-10-15

    Some economic principles of energy pricing in a market type economy in which there is consumer sovereignty are discussed. Thus resources will be allocated via the production processes in line with the preferences of consumers as revealed by their purchases of goods and services. Prices play the crucial role of coordinating instruments in this allocative process. It is assumed that all the energy industries are in the public sector. The following topics are discussed: the specification of objectives for the energy sector; marginal cost pricing; problems associated with the measurement of marginal costs; some aspects of the environmental costs associated with energy production and use, and some issues related to time differentiated tariffs; the modification of prices to achieve financial targets; and the use of energy prices to achieve income distribution objectives.

  15. Oil prices and the stock prices of alternative energy companies

    International Nuclear Information System (INIS)

    Henriques, Irene; Sadorsky, Perry

    2008-01-01

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

  16. Mind your pricing cues.

    Science.gov (United States)

    Anderson, Eric; Simester, Duncan

    2003-09-01

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

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

    Science.gov (United States)

    Ward, Frank A; Pulido-Velazquez, Manuel

    2009-01-01

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

  18. Value based pricing: the least valued pricing strategy

    OpenAIRE

    Hoenen, Bob

    2017-01-01

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

  19. 7 CFR 1124.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  20. 7 CFR 1030.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  1. 7 CFR 1000.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  2. Steel: Price and Policy Issues

    National Research Council Canada - National Science Library

    Cooney, Stephen

    2006-01-01

    Steel prices remain at historically elevated levels. The rapid growth of steel production and demand in China is widely considered as a major cause of the increases in both steel prices and the prices of steelmaking inputs...

  3. Pricing American and Asian Options

    OpenAIRE

    Pat Muldowney

    2015-01-01

    An analytic method for pricing American call options is provided; followed by an empirical method for pricing Asian call options. The methodology is the pricing theory presented in "A Modern Theory of Random Variation", by Patrick Muldowney, 2012.

  4. Capuchin monkeys do not show human-like pricing effects

    OpenAIRE

    Catapano, Rhia; Buttrick, Nicholas; Widness, Jane; Goldstein, Robin; Santos, Laurie R.

    2014-01-01

    Recent work in judgment and decision-making has shown that a good's price can have irrational effects on people's preferences. People tend to prefer goods that cost more money and assume that such expensive goods will be more effective, even in cases where the price of the good is itself arbitrary. Although much work has documented the existence of these pricing effects, unfortunately little work has addressed where these price effects come from in the first place. Here we use a comparative a...

  5. Prospects for oil prices

    International Nuclear Information System (INIS)

    Stevens, P.

    1992-01-01

    The basic argument presented is that the oil price is set in an administrated market. The administration is undertaken by the controllers of excess capacity to produce crude oil. The extent to which the administrated price matches the market price is a function, first, of the strength and effectiveness of the market controller and, secondly, of the state of supply and demand and expectations in the market. Currently, the market is operating close to capacity, what limited excess capacity exists is located mainly in Saudi Arabia and the Saudi Arabians appear to be following a low price objective. While the Saudi Arabians pursue volume, the short term project, in the balance of a political upheaval, is that oil prices will remain below the $21 per barrel agreed in July 1990. There is a view that Saudi Arabia would take quick action to reverse a price collapse, but attention is drawn to previous miscalculations with respect to price collapse. Should political circumstances allow the return of Iraq to the oil market, then excess capacity within the Gulf members of OPEC will return and control will be much more difficult. (UK)

  6. Prospects for oil prices

    International Nuclear Information System (INIS)

    Caddy, P.

    1992-01-01

    It is argued that the wave in oil prices which occurred in 1991, although appearing to suggest price instability, in fact shows the opposite. Steady oscillation between a low price level that leads to new customers and a high price that encourages customers to switch to alternatives is a sign of a stable market. This relative stability was achieved against the background of the political upheaval in the USSR and Eastern Europe and its unpredictable consequences. Such political uncertainties to one side, the difficulties of assessing demand trends in the light of the imponderables of the state of the world economy and the weather are stressed. Despite these problems, the view is expressed that correct reading of signals up the supply chain by producers should ensure continued relative price stability. This is not to say that prices will stay exactly the same, just that they will be bound within a trading range set by anticipated consumer and producer responses to the fluctuating prices. (UK)

  7. Asset Pricing - A Brief Review

    OpenAIRE

    Li, Minqiang

    2010-01-01

    I first introduce the early-stage and modern classical asset pricing and portfolio theories. These include: the capital asset pricing model (CAPM), the arbitrage pricing theory (APT), the consumption capital asset pricing model (CCAPM), the intertemporal capital asset pricing model (ICAPM), and some other important modern concepts and techniques. Finally, I discuss the most recent development during the last decade and the outlook in the field of asset pricing.

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

    International Nuclear Information System (INIS)

    Miller, Mark; Alberini, Anna

    2016-01-01

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

  9. Price Competition on Graphs

    OpenAIRE

    Adriaan R. Soetevent

    2010-01-01

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

  10. Price Competition on Graphs

    OpenAIRE

    Pim Heijnen; Adriaan Soetevent

    2014-01-01

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

  11. House Prices and Taxes

    DEFF Research Database (Denmark)

    Gjedsted Nielsen, Mads

    This paper is the first to consider a large scale natural experiment to estimate the effect of taxes on house prices. We find that a 1 percentage-point increase in income tax rates lead to a drop in house prices of at most 2.2%. This corresponds to a tax capitalization for the average household...... capitalization from earlier studies. Furthermore, we find no effect of property taxes on house prices. We attribute this to the low levels of Danish municipal property tax rates compared to income tax rates....

  12. Financial and technical feasibility of dynamic congestion pricing as a revenue generation source in Indiana : exploiting the availability of real-time information and dynamic pricing technologies.

    Science.gov (United States)

    2011-10-19

    "Highway stakeholders continue to support research studies that address critical issues of the current era, including congestion mitigation and revenue generation. A mechanism that addresses both concerns is congestion pricing which establishes a dir...

  13. What Happens to Patterns of Food Consumption when Food Prices Change? Evidence from A Systematic Review and Meta-Analysis of Food Price Elasticities Globally.

    Science.gov (United States)

    Cornelsen, Laura; Green, Rosemary; Turner, Rachel; Dangour, Alan D; Shankar, Bhavani; Mazzocchi, Mario; Smith, Richard D

    2015-12-01

    Recent years have seen considerable interest in examining the impact of food prices on food consumption and subsequent health consequences. Fiscal policies targeting the relative price of unhealthy foods are frequently put forward as ways to address the obesity epidemic. Conversely, various food subsidy interventions are used in attempts to reduce levels of under-nutrition. Information on price elasticities is essential for understanding how such changes in food prices affect food consumption. It is crucial to know not only own-price elasticities but also cross-price elasticities, as food substitution patterns may have significant implications for policy recommendations. While own-price elasticities are common in analyses of the impact of food price changes on health, cross-price effects, even though generally acknowledged, are much less frequently included in analyses, especially in the public health literature. This article systematically reviews the global evidence on cross-price elasticities and provides combined estimates for seven food groups in low-income, middle-income and high-income countries alongside previously estimated own-price elasticities. Changes in food prices had the largest own-price effects in low-income countries. Cross-price effects were more varied and depending on country income level were found to be reinforcing, undermining or alleviating own-price effects. Copyright © 2014 John Wiley & Sons, Ltd.

  14. Do Canadian electricity prices reflect costs?

    International Nuclear Information System (INIS)

    Jaccard, M.

    1993-01-01

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

  15. Russian energy prices, taxes and costs 1993

    International Nuclear Information System (INIS)

    1994-01-01

    The Russian energy industry may be the country's most promising exporter, but it is struggling to free itself from the heavy regulation and economic distortions inherited from the Soviet era. This analysis examines Russian price and tax policies as well as production costs in 1993, and their effect on supply and demand in the oil, coal, gas and electricity sectors. The study underscores the broad consensus among both Western and Russian experts that primary energy prices should be lifted to world levels. It offers a framework for addressing the great question about how fast this should be done in a country undergoing a tremendous social and political transformation

  16. A Study on Rational Pricing System for Water Supply

    Energy Technology Data Exchange (ETDEWEB)

    Moon, H.J. [Korea Environment Institute, Seoul (Korea)

    2001-12-01

    Reasonable pricing of water can induce optimal water use by the public by relaying the considerable costs of water provision and plays an important role of providing a basic scheme for the reasonable management of water. This study provides a reasonable pricing scheme of water that reflects the economic and social values of water as a resource by investigating reasonable bulk-water pricing and retail-water pricing. For bulk pricing, the study discuss the range of costs to be covered, design of efficient pricing structures(differentiated by source quality, loss ratios and time year), and sharing efficient costs between beneficiaries (customer groups and regions). The study also addresses the adjustment of present charging schemes for bulk water such as charges for bulk water from dam, abstraction charges, and river charges etc. Factoring in demand and available resource characteristics, the differentiated pricing mechanism is also investigated. The study proposes a differentiated pricing mechanism based on season, where the pricing structure reflects the cost structure related to fluctuated demand. In addition, implementation methods and effects of introducing seasonal pricing scheme are discussed. Another seasonal pricing mechanism, the seasonally differentiated pricing scheme in bulk pricing reflects a cost structure related to resource availability, is also investigated. Increasing block rate as a reasonable pricing scheme for water conservation, and priority pricing as a tool socially desirable water allocation in the case water shortage are designed. for practical implementation of pricing scheme, several issues are discussed: identification and calculation of costs that should be covered and the structure of costs as a basis of differentiated pricing scheme, issue of forecasting, and practical that could be happen in the implementation of increasing block rate and seasonal pricing schemes, etc. Institutional systems that implement the proposed pricing schemes

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

    OpenAIRE

    Michael D. Noel

    2007-01-01

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

  18. Uranium price reporting systems

    International Nuclear Information System (INIS)

    1987-09-01

    This report describes the systems for uranium price reporting currently available to the uranium industry. The report restricts itself to prices for U 3 O 8 natural uranium concentrates. Most purchases of natural uranium by utilities, and sales by producers, are conducted in this form. The bulk of uranium in electricity generation is enriched before use, and is converted to uranium hexafluoride, UF 6 , prior to enrichment. Some uranium is traded as UF 6 or as enriched uranium, particularly in the 'secondary' market. Prices for UF 6 and enriched uranium are not considered directly in this report. However, where transactions in UF 6 influence the reported price of U 3 O 8 this influence is taken into account. Unless otherwise indicated, the terms uranium and natural uranium used here refer exclusively to U 3 O 8 . (author)

  19. AKRO: Standard Prices

    Data.gov (United States)

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

  20. Price of military uranium

    International Nuclear Information System (INIS)

    Klimenko, A.V.

    1998-01-01

    The theoretical results about optimum strategy of use of military uranium confirmed by systems approach accounts are received. The numerical value of the system approach price of the highly enriched military uranium also is given

  1. Pricing and Fee Management.

    Science.gov (United States)

    Fischer, Richard B.

    1986-01-01

    Defines key terms and discusses things to consider when setting fees for a continuing education program. These include (1) the organization's philosophy and mission, (2) certain key variables, (3) pricing strategy options, and (4) the test of reasonableness. (CH)

  2. The price of pollution

    International Nuclear Information System (INIS)

    Bleijenberg, A.N.; Davidson, M.D.; Wit, R.

    1998-06-01

    The market does not create a price for environmental pollution for the simple reason that there is no market for the environment. What can be done is to calculate shadow prices for environmental pollution, which is achieved by calculating the price that would arise if there would be a market for the environment. In applying this method, it generally proves to be necessary to base calculations on government environmental targets. Using available research data, the method is used to calculate shadow prices for a number of key pollutants. The present report is based on the CE studies 'Schaduwprijzen Prioriterings Methodiek (SPM)' (1997), commissioned by ICI Holland BV, and 'De prijs van Milieuvervuiling' (1997), commissioned by KNP BT Packaging

  3. Variable Pricing Feasibility Assessment

    National Research Council Canada - National Science Library

    2004-01-01

    ...) and Willard Bishop Consulting (Barrington, IL) to evaluate the practicality of using a variable pricing system within DeCA to maintain an average of 30 percent customer savings and lower appropriated fund costs...

  4. Market News Price Dataset

    Data.gov (United States)

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

  5. Essays on Derivatives Pricing

    DEFF Research Database (Denmark)

    Kokholm, Thomas

    . With the existence of a liquid market for derivatives with variance as underlying, such as VIX options, VIX futures and a well-developed over-the-counter market for options on variance swaps, it is important to consider models that are able to fit these markets while consistently pricing vanilla options...... financial models, and most importantly, to be aware of their limitations. Following that belief, this thesis consists of three independent and self-contained papers, all dealing with topics in derivatives pricing. The first paper considers the pricing of traffic light options, which are appropriate...... the market for multivariate credit instruments, we take a step back and focus on single-name default modeling and introduce two new model classes for modeling of the default time of a company. Finally, in the third paper we propose a consistent pricing model for index and volatility derivatives...

  6. Transfer Prices Implication Upon Tax System. The Romanian Experience

    Directory of Open Access Journals (Sweden)

    Dumiter Florin

    2017-06-01

    Full Text Available Transfer prices are a top field in financial and legal scientific research and practical activity. Although this research field is still in the beginning, due to its complexity, as well as it’s inter-, multi- and transdisciplinarity, it can be noted that empirical studies, as well as practical researches in economic and legal matters, have intensified. Moreover, this field of transfer prices is in close connection with the area of international double taxation, which shows its international character. In this article we sought a holistic approach to the transfer price phenomenon, dealing with economic and legal technical aspects that we believed are important to emphasise. Without addressing the issue of transfer prices in an exhaustive manner, in this article we presented both the legal and the economic framework of transfer prices in Romania. The added value of this article lies in the approach to transfer prices, both legally and economically.

  7. Midsouth Pulpwood Prices, 1991

    Science.gov (United States)

    Patrick E. Miller

    1993-01-01

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

  8. Energy price risk management

    International Nuclear Information System (INIS)

    Evans, J.W.G.

    1998-01-01

    While long term, fixed price contracts for fuel procurement and export of excess power may lock in the economics of a CHP plant, these do not necessarily give the best pricing opportunities that may exist during the life of those contracts. A more prudent approach may be to vary the length of the contracts and markets are now developing in gas and electricity to assist in the management of such a portfolio. (Author)

  9. New product pricing

    International Nuclear Information System (INIS)

    Wilkinson, V.K.

    1981-01-01

    One of the most uncertain elements in budget planning is estimating production costs of items that have heretofore only been produced in prototype configurations and quantities. This paper examines the design and development of a mathematical model which computes appropriate prices for new and unique products. The resulting model offers a producer a fair return on his investment and the consumer a fair purchase price

  10. Corporate debt pricing I.

    OpenAIRE

    Ilya, Gikhman

    2007-01-01

    In this article we discuss fundamentals of the debt securities pricing. We begin with a generalization of the present value concept. Though the present value is the base valuation method in the modern finance we will illustrate that this concept does not sufficiently accurate in producing instrument pricing. The incompleteness of the unique present value approach stems from variability of the interest rates. Admitting variability of the interest rates we define two present values one for buye...

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

    International Nuclear Information System (INIS)

    Radchenko, S.

    2005-01-01

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

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

    NARCIS (Netherlands)

    Carvalho, M.

    2009-01-01

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

  13. Why do stumpage prices increase more than lumber prices?

    Science.gov (United States)

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

    1998-01-01

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

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

    NARCIS (Netherlands)

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

    2004-01-01

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

  15. Higher Education Prices and Price Indexes. 1976 Supplement.

    Science.gov (United States)

    Halstead, Kent D.

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

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

    NARCIS (Netherlands)

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

    2013-01-01

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

  17. A Comparison of Pricing Strategies for Bibliographical Databases on CDROM and Equivalent Printed Products.

    Science.gov (United States)

    Rowley, Jennifer; Butcher, David

    1994-01-01

    Considers comparative prices for bibliographic data on CD-ROM and in print. Topics addressed include differences in the nature of bibliographic data in the two media, the relative complexities of pricing structure, varying policies on network pricing, and standardization of the licensing arrangement. (KRN)

  18. The effect of proportional v. value pricing on fountain drink purchases: results from a field experiment.

    Science.gov (United States)

    Gollust, Sarah E; Tang, Xuyang; Runge, Carlisle Ford; French, Simone A; Rothman, Alexander J

    2018-05-15

    Reducing sugar-sweetened beverage consumption is a public health priority, yet finding an effective and acceptable policy intervention is challenging. One strategy is to use proportional pricing (a consistent price per fluid ounce) instead of the typical value-priced approach where large beverages offer better value. The purpose of the present study was to evaluate whether proportional pricing affects the purchasing of fountain beverages at a university cinema concession stand. Four price strategies for beverages were evaluated over ten weekends of film screenings. We manipulated two factors: the price structure (value pricing v. proportional pricing) and the provision of information about the price per fluid ounce (labels v. no labels). The key outcomes were the number and size of beverages purchased. We analysed data using regression analyses, with standard errors clustered by film and controlling for the day and time of purchase. A university cinema concession stand in Minnesota, USA, in spring 2015. University students. Over the study period (360 beverages purchased) there were no significant effects of the proportional pricing treatment. Pairing a label with the standard value pricing increased the likelihood of purchasing large drinks but the label did not affect purchasing when paired with proportional pricing. Proportional prices did not significantly affect the size of beverages purchased by students at a university cinema, but adding a price-per-ounce label increased large drink purchases when drinks were value-priced. More work is needed to address whether pricing and labelling strategies might promote healthier beverage purchases.

  19. Capuchin monkeys do not show human-like pricing effects

    Science.gov (United States)

    Catapano, Rhia; Buttrick, Nicholas; Widness, Jane; Goldstein, Robin; Santos, Laurie R.

    2014-01-01

    Recent work in judgment and decision-making has shown that a good's price can have irrational effects on people's preferences. People tend to prefer goods that cost more money and assume that such expensive goods will be more effective, even in cases where the price of the good is itself arbitrary. Although much work has documented the existence of these pricing effects, unfortunately little work has addressed where these price effects come from in the first place. Here we use a comparative approach to distinguish between different accounts of this bias and to explore the origins of these effects. Specifically, we test whether brown capuchin monkeys (Cebus apella) are also susceptible to pricing effects within the context of an experimentally trained token economy. Using a capuchin population previously trained in a token market, we explored whether monkeys used price as an indicator of value across four experiments. Although monkeys demonstrated an understanding of which goods had which prices (consistently shifting preferences to cheaper goods when prices were increased), we observed no evidence that such price information affected their valuation of different kinds of goods. These results suggest that human pricing effects may involve more sophisticated human-unique cognitive capacities, such as an understanding of market forces and signaling. PMID:25520677

  20. Capuchin monkeys do not show human-like pricing effects

    Directory of Open Access Journals (Sweden)

    Rhia eCatapano

    2014-12-01

    Full Text Available Recent work in judgment and decision-making has shown that a good’s price can have irrational effects on people’s preferences. People tend to prefer goods that cost more money and assume that such expensive goods will be more effective, even in cases where the price of the good is itself arbitrary. Although much work has documented the existence of these pricing effects, unfortunately little work has addressed where these price effects come from in the first place. Here we use a comparative approach to distinguish between different accounts of this bias and to explore the origins of these effects. Specifically, we test whether brown capuchin monkeys (Cebus apella are also susceptible to pricing effects within the context of an experimentally trained token economy. Using a capuchin population previously trained in a token market, we explored whether monkeys used price as an indicator of value across four experiments. Although monkeys demonstrated an understanding of which goods had which prices (consistently shifting preferences to cheaper goods when prices were increased, we observed no evidence that such price information affected their valuation of different kinds of goods. These results suggest that human price effects may involve more sophisticated human-unique cognitive capacities, such as an understanding of market forces and signaling.

  1. Capuchin monkeys do not show human-like pricing effects.

    Science.gov (United States)

    Catapano, Rhia; Buttrick, Nicholas; Widness, Jane; Goldstein, Robin; Santos, Laurie R

    2014-01-01

    Recent work in judgment and decision-making has shown that a good's price can have irrational effects on people's preferences. People tend to prefer goods that cost more money and assume that such expensive goods will be more effective, even in cases where the price of the good is itself arbitrary. Although much work has documented the existence of these pricing effects, unfortunately little work has addressed where these price effects come from in the first place. Here we use a comparative approach to distinguish between different accounts of this bias and to explore the origins of these effects. Specifically, we test whether brown capuchin monkeys (Cebus apella) are also susceptible to pricing effects within the context of an experimentally trained token economy. Using a capuchin population previously trained in a token market, we explored whether monkeys used price as an indicator of value across four experiments. Although monkeys demonstrated an understanding of which goods had which prices (consistently shifting preferences to cheaper goods when prices were increased), we observed no evidence that such price information affected their valuation of different kinds of goods. These results suggest that human pricing effects may involve more sophisticated human-unique cognitive capacities, such as an understanding of market forces and signaling.

  2. Estimating the commodity market price of risk for energy prices

    International Nuclear Information System (INIS)

    Kolos, Sergey P.; Ronn, Ehud I.

    2008-01-01

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

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

    Directory of Open Access Journals (Sweden)

    David Bouras

    2017-07-01

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

  4. Addressing Ozone Layer Depletion

    Science.gov (United States)

    Access information on EPA's efforts to address ozone layer depletion through regulations, collaborations with stakeholders, international treaties, partnerships with the private sector, and enforcement actions under Title VI of the Clean Air Act.

  5. Delivered Pricing, FOB Pricing, and Collusion in Spatial Markets

    OpenAIRE

    Maria Paz Espinosa

    1992-01-01

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

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

    OpenAIRE

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

    2013-01-01

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

  7. Gross Mal distribution Identification and Effect of Inlet Distributor on the Phase Holdup in a Trickle Bed Reactor Using Gamma-Ray Densitometry (GRD)

    International Nuclear Information System (INIS)

    Mohd Fitri Abdul Rahman; Alexander, V.; Al-Dahhan, M.

    2016-01-01

    Local liquid and gas mal distribution and their holdups in a packed column are difficult to identify due to multiphase properties and other design factors. Good liquid and gas flow distribution important to determine to get high performance of Trickle Bed Reactor (TBR). Gross mal distribution indicates some faulty or bad flow distribution of liquid and gas. In this work, gross mal distribution of phases has been identified using Gamma Ray Densitometry (GRD) technique with three types of inlet distributors (single inlet towards the wall, single inlet at the center, and proper shower) by measuring line average diameter profile of phases (Liquid, Gas, and Solids) holdups. Gamma-ray densitometry is a non-invasive technique which can be implemented at the laboratory, pilot plant, and industrial scales reactors. Experiments were performed on 0.14 m diameter reactor made of Plexiglas filled with 0.003 m glass bead which acts as the solid. The superficial velocities for both gas and liquid were in the range 0.03 m/s to 0.27 m/s and 0.004 m/s to 0.014 m/s respectively. Proper shower distributor showed early liquid spreading than compared with other distributors. The effect of superficial gas velocity on liquid spread was seen to be non-significant, and liquid distribution is found to be almost uniform at the center region of the catalyst bed. (author)

  8. Energy markets and price relations

    International Nuclear Information System (INIS)

    Bergendahl, P.A.

    1986-10-01

    The aim of the report is to elucidate the way and extent of the dependence of the price of different energy species of one another and particularly of crude oil prices. Oil, coal and natural gas can substitute each other at many applications. The prices are dependent on mining, processing and transporting. Forecasting of prices and future trends are discussed

  9. Electricity prices and fuel costs. Long-run relations and short-run dynamics

    International Nuclear Information System (INIS)

    Mohammadi, Hassan

    2009-01-01

    The paper examines the long-run relation and short-run dynamics between electricity prices and three fossil fuel prices - coal, natural gas and crude oil - using annual data for the U.S. for 1960-2007. The results suggest (1) a stable long-run relation between real prices for electricity and coal (2) Bi-directional long-run causality between coal and electricity prices. (3) Insignificant long-run relations between electricity and crude oil and/or natural gas prices. And (4) no evidence of asymmetries in the adjustment of electricity prices to deviations from equilibrium. A number of implications are addressed. (author)

  10. THE PROBLEMS OF TRANSFER PRICING

    OpenAIRE

    Tursunova Nargiza

    2015-01-01

    Each item has a price, but not every company is able to independently set the price at which it wants to sell its goods. Firms need to have a streamlined method of setting prices for their goods, and their financial condition depends on it. When choosing a method of pricing, there must be considered and internal and external constraints. The paper discusses the stages of formation of prices in a continuous process of pricing, as well as methods of pricing, their advantages and disadvantages. ...

  11. Quantity precommitment and price matching

    DEFF Research Database (Denmark)

    Tumennasan, Norovsambuu

    We revisit the question of whether price matching is anti-competitive in a capacity constrained duopoly setting. We show that the effect of price matching depends on capacity. Specifically, price matching has no effect when capacity is relatively low, but it benefits the firms when capacity...... is relatively high. Interestingly, when capacity is in an intermediate range, price matching benefits only the small firm but does not affect the large firm in any way. Therefore, one has to consider capacity seriously when evaluating if price matching is anti-competitive. If the firms choose their capacities...... simultaneously before pricing decisions, then the effect of price matching is either pro-competitive or ambiguous. We show that if the cost of capacity is high, then price matching can only (weakly) decrease the market price. On the other hand, if the cost of capacity is low, then the effect of price matching...

  12. Stock Price Informativeness and Idiosyncratic Return Volatility in Emerging Markets: Evidence from China

    OpenAIRE

    Karen Jingrong Lin; Khondkar Karim; Clairmont Carter

    2014-01-01

    This study attempts to address two research questions on the idiosyncratic return volatility and stock price informativeness. First, whether idiosyncratic return volatility is a valid proxy for stock price informativeness in emerging markets, and if it is, whether there exists a monotonic relationship between the idiosyncratic return volatility and stock price informativeness throughout the whole sample. We find that the idiosyncratic return volatility reflects the stock price informativeness...

  13. Developments in Global Food Prices

    OpenAIRE

    Vanessa Rayner; Emily Laing; Jamie Hall

    2011-01-01

    Global food prices have increased significantly since the early 2000s, reversing the long-run trend decline in relative food prices over previous decades. A range of supply disruptions in key food-producing countries have contributed to higher food prices, along with strong demand from developing countries as per capita incomes rise and consumption patterns change. Rising commodity prices are leading to higher headline consumer price inflation in many countries though, at this stage, core mea...

  14. Rational Asset Pricing Bubbles Revisited

    OpenAIRE

    Jan Werner

    2012-01-01

    Price bubble arises when the price of an asset exceeds the asset's fundamental value, that is, the present value of future dividend payments. The important result of Santos and Woodford (1997) says that price bubbles cannot exist in equilibrium in the standard dynamic asset pricing model with rational agents as long as assets are in strictly positive supply and the present value of total future resources is finite. This paper explores the possibility of asset price bubbles when either one of ...

  15. Nonlinear price impact from linear models

    Science.gov (United States)

    Patzelt, Felix; Bouchaud, Jean-Philippe

    2017-12-01

    The impact of trades on asset prices is a crucial aspect of market dynamics for academics, regulators, and practitioners alike. Recently, universal and highly nonlinear master curves were observed for price impacts aggregated on all intra-day scales (Patzelt and Bouchaud 2017 arXiv:1706.04163). Here we investigate how well these curves, their scaling, and the underlying return dynamics are captured by linear ‘propagator’ models. We find that the classification of trades as price-changing versus non-price-changing can explain the price impact nonlinearities and short-term return dynamics to a very high degree. The explanatory power provided by the change indicator in addition to the order sign history increases with increasing tick size. To obtain these results, several long-standing technical issues for model calibration and testing are addressed. We present new spectral estimators for two- and three-point cross-correlations, removing the need for previously used approximations. We also show when calibration is unbiased and how to accurately reveal previously overlooked biases. Therefore, our results contribute significantly to understanding both recent empirical results and the properties of a popular class of impact models.

  16. The oil price

    International Nuclear Information System (INIS)

    Alba, P.

    2000-01-01

    Statistical analysis cannot, alone, provide an oil price forecast. So, one needs to understand the fundamental phenomena which control the past trends since the end of world war II After a first period during which oil, thanks to its abundance, was able to increase its market share at the expense of other energies, the first oil shock reflects the rarefaction of oil resource with the tilting of the US production curve from growth to decline. Since then, the new situation is that of a ''cohabitation'' between oil and the other energies with the oil price, extremely volatile, reflecting the trial and error adjustment of the market share left to the other energies. Such a context may explain the recent oil price surge but the analogy between the US oil situation at the time of the first shock and that existing today for the world outside Middle East suggest another possibility, that of a structural change with higher future oil prices. The authors examine these two possibilities, think that the oil price will reflect both as long as one or the other will not become proven, and conclude with a series of political recommendations. (authors)

  17. "Photographing money" task pricing

    Science.gov (United States)

    Jia, Zhongxiang

    2018-05-01

    "Photographing money" [1]is a self-service model under the mobile Internet. The task pricing is reasonable, related to the success of the commodity inspection. First of all, we analyzed the position of the mission and the membership, and introduced the factor of membership density, considering the influence of the number of members around the mission on the pricing. Multivariate regression of task location and membership density using MATLAB to establish the mathematical model of task pricing. At the same time, we can see from the life experience that membership reputation and the intensity of the task will also affect the pricing, and the data of the task success point is more reliable. Therefore, the successful point of the task is selected, and its reputation, task density, membership density and Multiple regression of task positions, according to which a nhew task pricing program. Finally, an objective evaluation is given of the advantages and disadvantages of the established model and solution method, and the improved method is pointed out.

  18. 7 CFR 1033.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  19. 7 CFR 1005.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  20. 7 CFR 1001.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  1. 7 CFR 1006.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  2. 7 CFR 1126.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  3. 7 CFR 1032.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  4. 7 CFR 1131.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  5. 7 CFR 1007.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  6. How German Online Retailers Price Foods: An Empirical Analysis for Chocolate Products

    Directory of Open Access Journals (Sweden)

    Svetlana Fedoseeva

    2017-01-01

    Full Text Available Despite the increasing importance of online grocery retailing, little is known about price dispersion across online providers, the relation between online and offline prices as well as the frequency of price adjustments. We employ means of descriptive and inductive statistics as well as panel econometrics to address these issues for German online food retailers. Daily online prices for twelve chocolate products charged by eight pure online and multichannel retailers and collected over three months are investigated. Information economics suggests that a maturing online market will call forth more price homogeneity online due to lower search costs by consumers as well as more flexible prices due to lower costs of price adjustments by retailers. Our results suggest, however, that neither homogenous prices nor frequent price adjustments do occur on the German online chocolate market.

  7. Price smarter on the Net.

    Science.gov (United States)

    Baker, W; Marn, M; Zawada, C

    2001-02-01

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

  8. Fuel switching? Demand destruction? Gas market responses to price spikes

    International Nuclear Information System (INIS)

    Lippe, D.

    2004-01-01

    This presentation defined fuel switching and addressed the issue regarding which consumers have the capability to switch fuels. In response to short term price aberrations, consumers with fuel switching capabilities reduce their use of one fuel and increase consumption of an alternative fuel. For example, natural gas consumption by some consumers declines in response to price spikes relative to prices of alternative fuels. This presentation also addressed the issue of differentiating between fuel switching and demand destruction. It also demonstrated how to compare gas prices versus alternative fuel prices and how to determine when consumers will likely switch fuels. Price spikes have implications for long term trends in natural gas demand, supply/demand balances and prices. The power generating sector represents a particular class of gas consumers that reduce operating rates of gas fired plants and increase operating rates of other plants. Some gas consumers even shut down plants until gas prices declines and relative economies improve. Some practical considerations for fuel switching include storage tank capacity, domestic refinery production, winter heating season, and decline in working gas storage. tabs., figs

  9. Addressing the nuclear misconception

    International Nuclear Information System (INIS)

    Taylor, J.J.

    1998-01-01

    There is a perception, fostered and encouraged by the anti-nuclear groups, that the nuclear industry generates large quantities of waste with no idea how to deal with it, that it is unsafe, uneconomic, and environmentally damaging. The task is to change these perceptions, by demonstrating that the industry is not a problem in itself, but in fact provides solutions to problems. This paper, while primarily concerned with waste, addresses all of these issues as each has a bearing on the perception of the industry and therefore must be considered when addressing the issue of waste. The paper concludes that evidence exists to support the industry view, but that the mission of the industry should be to change the perception of the industry, by influencing and working together with its stake holders to address their concerns, rather than merely presenting more and more facts. (author)

  10. Performance analysis of a membrane humidifier containing porous metal foam as flow distributor in a PEM fuel cell system

    International Nuclear Information System (INIS)

    Afshari, Ebrahim; Baharlou Houreh, Nasser

    2014-01-01

    Highlights: • Three metal foam configurations for the membrane humidifier are introduced. • The performances of the humidifiers containing metal foam are investigated. • A 3D CFD model is developed to compare the introduced humidifiers with one another. • Using metal foam at dry side has no positive effect on the humidifier performance. - Abstract: Using metal foam as flow distributor in membrane humidifier for proton exchange membrane (PEM) fuel cell system has some unique characteristics like more water transfer, low manufacturing complexity and low cost compared to the conventional flow channel plate. Metal foam can be applied at wet side or dry side or both sides of a humidifier. The three-dimensional CFD models are developed to investigate the performance of the above mentioned meanwhile compare them with the conventional humidifier. This model consists of a set of coupled equations including conservations of mass, momentum, species and energy for all regions of the humidifier. The results indicate that with the metal foam installed at wet side and both sides, water recovery ratio and dew point at dry side outlet are more than that of the conventional humidifier, indicating a better humidifier performance; while using metal foam at dry side has no positive effect on humidifier performance. At dry side mass flow rates higher than 10 mgr/s pressure drop in humidifier containing metal foam at wet side is lower than that of the conventional humidifier. As the mass flow rate increases from 9 to 15 mgr/s humidifier containing metal foam at wet side has better performance, while at mass flow rates lower than 9 mgr/s, the humidifier containing metal foam at both sides has better performance. At dry side inlet temperatures lower than 303 K, humidifier containing metal foam at wet side has better performance and at temperatures higher than 303 K, humidifier containing metal foam at both sides has better performance

  11. Fouling reduction characteristics of a no-distributor-fluidized-bed heat exchanger for flue gas heat recovery

    Energy Technology Data Exchange (ETDEWEB)

    Jun, Y.D.; Lee, K.B.; Islam, S.Z.; Ko, S.B. [Kongju National University, Kong Ju (Republic of Korea). Dept. for Mechanical Engineering

    2008-07-01

    In conventional flue gas heat recovery systems, the fouling by fly ashes and the related problems such as corrosion and cleaning are known to be major drawbacks. To overcome these problems, a single-riser no-distributor-fluidized-bed heat exchanger is devised and studied. Fouling and cleaning tests are performed for a uniquely designed fluidized bed-type heat exchanger to demonstrate the effect of particles on the fouling reduction and heat transfer enhancement. The tested heat exchanger model (1 m high and 54 mm internal diameter) is a gas-to-water type and composed of a main vertical tube and four auxiliary tubes through which particles circulate and transfer heat. Through the present study, the fouling on the heat transfer surface could successfully be simulated by controlling air-to-fuel ratios rather than introducing particles through an external feeder, which produced soft deposit layers with 1 to 1.5 mm thickness on the inside pipe wall. Flue gas temperature at the inlet of heat exchanger was maintained at 450{sup o}C at the gas volume rate of 0.738 to 0.768 CMM (0.0123 to 0.0128 m{sup 3}/sec). From the analyses of the measured data, heat transfer performances of the heat exchanger before and after fouling and with and without particles were evaluated. Results showed that soft deposits were easily removed by introducing glass bead particles, and also heat transfer performance increased two times by the particle circulation. In addition, it was found that this type of heat exchanger had high potential to recover heat of waste gases from furnaces, boilers, and incinerators effectively and to reduce fouling related problems.

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

    OpenAIRE

    Carlo De Gregorio

    2010-01-01

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

  13. Logistics: Price Rises Incurred by High Oil Price

    Institute of Scientific and Technical Information of China (English)

    Lai Zhihui

    2011-01-01

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

  14. Pricing Volatility Referenced Assets

    Directory of Open Access Journals (Sweden)

    Alan De Genaro Dario

    2006-12-01

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

  15. Wireless network pricing

    CERN Document Server

    Huang, Jianwei

    2013-01-01

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

  16. Addressing Sexual Harassment

    Science.gov (United States)

    Young, Ellie L.; Ashbaker, Betty Y.

    2008-01-01

    This article discusses ways on how to address the problem of sexual harassment in schools. Sexual harassment--simply defined as any unwanted and unwelcome sexual behavior--is a sensitive topic. Merely providing students, parents, and staff members with information about the school's sexual harassment policy is insufficient; schools must take…

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

    Energy Technology Data Exchange (ETDEWEB)

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

    2006-04-01

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

  18. Decoupling the Oil and Gas Prices. Natural Gas Pricing in the Post-Financial Crisis Market

    International Nuclear Information System (INIS)

    Kanai, Miharu

    2011-01-01

    This paper looks into natural gas pricing in the post-financial crisis market and, in particular, examines the question whether the oil-linked gas pricing system has outlived its utility as global gas markets mature and converge more rapidly than expected and as large new resources of unconventional gas shift the gas terms-of-trade. Two opposing natural gas pricing systems have coexisted for the last two decades. On the one hand, there is traditional oil-linked pricing, used in pipeline gas imports by Continental European countries and in LNG imports by the countries in Far East. The other is the system led by futures exchanges in deregulated, competitive markets largely in the UK and the US. World gas markets are changing and the basis and mechanisms of price formation are changing with them. There is no reason to expect a revolution in gas pricing, but formulas designed to address the challenges of the 1970's will need to adjust to the realities of the present and expectations for the 21. century. Because such changes will imply a redistribution of costs and benefits, vested shareholders will defend the status quo. But hopefully and ultimately, appropriately regulated markets will assert themselves and shareholders along the entire value chain will have their interests served

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

    International Nuclear Information System (INIS)

    Courchene, T.J.

    2006-01-01

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

  20. Price knowledge during grocery shopping

    DEFF Research Database (Denmark)

    Jensen, Birger Boutrup; Grunert, Klaus G

    2014-01-01

    applying a multi-point, multi-measure approach, consumers appear to know more aboutprices than suggested by past research. Determinants of price knowledge are also examined and the results indicate that price knowledge buildsup not only because of active search but also due to accidental exposure to prices......Past research on consumer price knowledge has varied considerably partly due to differences in how and when price knowledge is measured.This paper applies a multi-point, multi-measure approach to reconcile differences in past price knowledge research by examining systematicrelationships between...... time of measurement and type of measures applied. Examination of consumer price knowledge before, during, and afterstore visit sheds light on what is measured at the individual points in time: episodic price knowledge and/or reference prices? With a between-subjects design interviewing 1...

  1. Pricing of Fluctuations in Electricity Markets

    OpenAIRE

    Tsitsiklis, John N.; Xu, Yunjian

    2012-01-01

    In an electric power system, demand fluctuations may result in significant ancillary cost to suppliers. Furthermore, in the near future, deep penetration of volatile renewable electricity generation is expected to exacerbate the variability of demand on conventional thermal generating units. We address this issue by explicitly modeling the ancillary cost associated with demand variability. We argue that a time-varying price equal to the suppliers' instantaneous marginal cost may not achieve s...

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

    Directory of Open Access Journals (Sweden)

    Andrea Erika NYÁRÁDI

    2007-01-01

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

  3. Notes for an address

    International Nuclear Information System (INIS)

    Welch, R.W.

    1981-06-01

    The policy of the Ontario government is to ensure that consumers have access to a full range of competitively-priced energy forms. Nuclear power is more desirable than coal, both environmentally and from the point of view of cost, and the nuclear industry is also important to Ontario, providing jobs and contributing to the province's industrial development. The government of Ontario is exploring the possibility of exporting surplus electrical power when a profit can be made. Ontario Hydro has been exporting electricity for about 60 years, and sales to the United States have increased significantly since 1973, allowing rates to Ontario consumers to be lowered. Exports at present are from fossil-fired plants, increasing nuclear capacity frees the more expensive coal-fuelled capacity for export purposes. In past generating plants have not been built exclusively for the export market, and only short-term power surplusses have been exported. Over the next ten years exports are likely to remain about 10 billion kilowatt-hours per year. It would be environmentally advantageous for Ontario to build nuclear plants to generate electricity for the American market, rather than have to import acid rain from US coal-fired power plants. Much depends on public opinion and government policies at the federal level in both countries

  4. Pricing Natural Gas. The Outlook for the European Market (Summary)

    International Nuclear Information System (INIS)

    2008-01-01

    Long-term gas supply contracts contain price formulae, in which the gas price is usually linked to the price of another commodity, or to the spot price of gas in a particular market. In continental Europe the gas price in international long-term supply contracts is predominantly linked to oil products. At the same time, spot markets for gas in which gas prices are determined by supply and demand are developing in various EU markets. This paper addresses the question of to what extent the traditional form of oil-based price indexation is sustainable and/or will be sustained by the market players. It discusses the considerations the market players may have in favour of one or the other form of indexation, the external forces that may influence the choice of indexation in the short and longer terms and the consequences of change. It argues that pricing systems are a fundamental part of a market organisation, and that a shift to different pricing structures only happens if and when the main actors are convinced that they understand and accept the consequences of such change. It concludes that there is no strong evidence that the current hybrid situation, in which both forms of gas pricing co-exist, cannot continue. There are also no overriding reasons to intervene in the market practices of price formation. Both systems have their advantages and disadvantages under different market conditions, and to some extent complement each other in the current markets. Different types of risk and the appreciation thereof by the trading parties will determine particular choices of pricing rules and contracting conditions. More importantly, in today's market, in which new supplies are slow to come forward, the choice should be left to the market parties, particularly as sellers and buyers do not seem to be in strong disagreement

  5. No pressure on Slovnaft to lower fuel prices

    International Nuclear Information System (INIS)

    Beer, G.; Schoenwiesner, R.; Debnar, M.

    2004-01-01

    The Bratislava based refinery, Slovnaft has a dominant position on the Slovak fuel market. But this dominant market position is not specific to Slovakia - other national markets also have domestic producers with dominant positions. Fuel prices have increased substantially and the consumers are looking for a c ulprit' and have found it in the major player on the market. All those who are talking of 'record-breaking' fuel prices seem to have forgotten about inflation rates in recent years. But the situation on the Slovak market is not entirely standard. Slovak customers are right in objecting to the fact that fuel prices are often higher in Slovakia (pre-tax) than in neighbouring countries. But there is nothing to indicate this situation is likely to change. The consumption of petrol and diesel in Slovakia is growing. Many well-established companies have left the Slovak market and 50 competition is decreasing. And those that have stayed buy their fuel from Slovnaft and do not exercise any pressure on retail margins. Small independent distributors are not in a position to offer lower prices and they themselves are forced to decrease their margins. Slovnaft, controlled by the Hungarian company MOL, dictates the rules not only because its refineries produce 76% of all fuel sold on the Slovak market but also due to the fact that the company controls 39% of the retail network. It does not make a difference whether drivers stop at non--brand petrol stations, or use the petrol stations of international companies, nearly all companies operating in Slovakia buy their fuel from the Bratislava refinery with the exception of high octane petrol and winter diesel. Despite refinery over-capacity in Central Europe and the high number of producers operating within a small area, competition is not noticeable on the Slovak market. In theory, competition could be provided by the Polish refineries, the Czech refinery which imports under the JET brand, the Austrian owned OMV, the

  6. The Cushing OK Crude Oil Futures Price Pass - Through to New York Harbor Reformulated RBOB Regular Gasoline Futures Price

    Directory of Open Access Journals (Sweden)

    Chu V. Nguyen

    2017-04-01

    Full Text Available This study utilizes an Autoregressive Distributed Lag model to investigate the nature of crude oil futures price pass-through since 2006. The empirical results reveal a very high but incomplete short-run pass-through rate from the crude oil futures price to the gasoline futures price of 0.849298 with a corresponding negative long-run pass-through rate of -0.2440894. These empirical findings suggest that traders in the U.S. oil and gasoline futures markets overreact to fluctuations in the crude oil futures price as evidenced by subsequent corrections made over the sample period. The result of the bounds test for a long-term relationship between these two futures prices is inconclusive. The empirical findings further suggest that U.S. futures market traders considered futures prices of gasoline three weeks earlier in determining the current trading price while taking only one week to respond completely to the shock in the crude oil futures price.  The empirical findings of this investigation may address the core elements of the price dynamics of the crude oil and gasoline futures markets and advance inquiry into assessment tools that could manage a very complex market challenge, especially for policy makers in countries with transitional economies in Eastern Europe, Caucasus and Central Asia.

  7. Nonlinear Pricing of Information Goods

    OpenAIRE

    Arun Sundararajan

    2003-01-01

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

  8. Energy pricing policy in Iran

    International Nuclear Information System (INIS)

    Davood Manzoor

    1995-01-01

    Low energy prices in Iran do not reflect economic costs. Further distortions exist in the tariff structures of most energy sources and in their relative prices. Price reform is a key policy element for achieving increased energy conservation and economic substitution. Subsidies should be made transparent and explained by the Government, and, when eliminated, they could be compensated by target measures or direct subsidies for low income households. Price reforms are under way, with some caution though, because of possible political and inflationary consequences. In order to better understand the need for price reforms a brief analysis of the current energy pricing policy is provided there. (author)

  9. Pricing offshore wind power

    International Nuclear Information System (INIS)

    Levitt, Andrew C.; Kempton, Willett; Smith, Aaron P.; Musial, Walt; Firestone, Jeremy

    2011-01-01

    Offshore wind offers a very large clean power resource, but electricity from the first US offshore wind contracts is costlier than current regional wholesale electricity prices. To better understand the factors that drive these costs, we develop a pro-forma cash flow model to calculate two results: the levelized cost of energy, and the breakeven price required for financial viability. We then determine input values based on our analysis of capital markets and of 35 operating and planned projects in Europe, China, and the United States. The model is run for a range of inputs appropriate to US policies, electricity markets, and capital markets to assess how changes in policy incentives, project inputs, and financial structure affect the breakeven price of offshore wind power. The model and documentation are made publicly available. - Highlights: → We calculate the Breakeven Price (BP) required to deploy offshore wind plants. → We determine values for cost drivers and review incentives structures in the US. → We develop 3 scenarios using today's technology but varying in industry experience. → BP differs widely by Cost Scenario; relative policy effectiveness varies by stage. → The low-range BP is below regional market values in the Northeast United States.

  10. Carbon pricing comes clean

    International Nuclear Information System (INIS)

    De Wit, Elisa

    2011-01-01

    Together with the Clean Energy Bill, the implications of the Australian Federal Government's climate change legislative package are far reaching. Norton Rose gives business a heads-up in this breakdown of the draft legislation underpinning the carbon pricing and clean energy scheme. It is a summary of Norton Rose's full analysis.

  11. Road pricing policy implementation

    NARCIS (Netherlands)

    Vonk Noordegraaf, D.M.

    2016-01-01

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

  12. 2050: A Pricing Odyssey

    Energy Technology Data Exchange (ETDEWEB)

    Faruqui, Ahmad

    2006-10-15

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

  13. Pricing methodologies and approaches

    International Nuclear Information System (INIS)

    Petrov, K.

    2002-01-01

    The following topics are dealt with: Role of regulatory control in the electric power market; Price regulation; Market monitoring; Quality of supply regulation; Regulatory challenges in Central and Eastern Europe. The findings of these questions are summarized in the Summary. (R.P.)

  14. On Storekeepers' Pricing Behavior.

    NARCIS (Netherlands)

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

    1986-01-01

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

  15. Price of Prejudice

    DEFF Research Database (Denmark)

    Hedegaard, Morten; Tyran, Jean-Robert Karl

    2018-01-01

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

  16. Coal prices rise

    International Nuclear Information System (INIS)

    McLean, A.

    2001-01-01

    Coking and semi hard coking coal price agreements had been reached, but, strangely enough, the reaching of common ground on semi soft coking coal, ultra low volatile coal and thermal coal seemed some way off. More of this phenomenon later, but suffice to say that, traditionally, the semi soft and thermal coal prices have fallen into place as soon as the hard, or prime, coking coal prices have been determined. The rise and rise of the popularity of the ultra low volatile coals has seen demand for this type of coal grow almost exponentially. Perhaps one of the most interesting facets of the coking coal settlements announced to date is that the deals appear almost to have been preordained. The extraordinary thing is that the preordination has been at the prescience of the sellers. Traditionally, coking coal price fixing has been the prerogative of the Japanese Steel Mills (JSM) cartel (Nippon, NKK, Kawasaki, Kobe and Sumitomo) who presented a united front to a somewhat disorganised force of predominantly Australian and Canadian sellers. However, by the time JFY 2001 had come round, the rules of the game had changed

  17. Sentiment and art prices

    NARCIS (Netherlands)

    Penasse, J.N.G.; Renneboog, L.D.R.; Spaenjers, C.

    We hypothesize the existence of a slow-moving fad component in art prices. Using unique panel survey data on art market participants’ confidence levels in the outlook for a set of artists, we find that sentiment indeed predicts short-term returns.

  18. The Price Is Right?

    Science.gov (United States)

    Schaffhauser, Dian

    2012-01-01

    There's something about textbook prices that generates outrage in ways that other college expenses, such as housing and technology fees, don't. Maybe it's the shock felt by new students when faced with a $900 bill after getting their textbooks for free in K-12. Maybe it's the awful realization that $40,000 in tuition and board doesn't even cover…

  19. Option Pricing and Momentum

    NARCIS (Netherlands)

    Rodriguez, J.C.

    2007-01-01

    If managers are reluctant to fully adjust dividends to changes in earnings, stock returns and changes in the dividend yield will tend to be negatively correlated. When this is the case, stock returns will exhibit positive autocorrelation, or mo- mentum. This paper studies the pricing of options in

  20. Transfer Pricing Principles

    DEFF Research Database (Denmark)

    Jensen, Dennis Ramsdahl

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

  1. Pricing Mining Concessions Based on Combined Multinomial Pricing Model

    Directory of Open Access Journals (Sweden)

    Chang Xiao

    2017-01-01

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

  2. Sociodemographic differences in fast food price sensitivity

    Science.gov (United States)

    Meyer, Katie A.; Guilkey, David K.; Ng, Shu Wen; Duffey, Kiyah J.; Popkin, Barry M.; Kiefe, Catarina I.; Steffen, Lyn M.; Shikany, James M.; Gordon-Larsen, Penny

    2014-01-01

    Importance Fiscal food policies (e.g., taxation) are increasingly proposed to improve population-level health, but their impact on health disparities is unknown. Objective We estimated subgroup-specific effects of fast food price changes on fast food consumption and cardio-metabolic outcomes, hypothesizing inverse associations between fast food price with fast food consumption, BMI, and insulin resistance and stronger associations among blacks (vs. whites) and participants with relatively lower education or income. Design 20-year follow-up (5 exams) in a biracial U.S. prospective cohort: Coronary Artery Risk Development in Young Adults (CARDIA) (1985/86–2005/06, baseline n=5,115). Participants Aged 18–30 at baseline; designed for equal recruitment by race (black/white), educational attainment, age, and gender. Exposures Community-level price data from the Council for Community and Economic Research (C2ER) temporally- and geographically-linked to study participants’ home address at each exam. Main outcome and measures Participant-reported number of fast food eating occasions per week; BMI (kg/m2) from clinical assessment of weight and height; homeostatic model assessment insulin resistance (HOMA-IR) from fasting glucose and insulin. Covariates included individual- and community-level social and demographic factors. Results In repeated measures regression, multivariable-adjusted associations between fast food price and consumption were non-linear (quadratic, pconsumption at higher prices; estimates varied according to race (interaction term p=0.04), income (p=0.07), and education (p=0.03). For example, at the 10th percentile of price ($1.25/serving), blacks and whites had mean fast food consumption (times/week) of 2.2 (95% CI: 2.1–2.3) and 1.6 (1.5–1.7), respectively, while at the 90th percentile of price ($1.53/serving), respective mean consumption estimates were 1.9 (1.8–2.0) and 1.5 (1.4–1.6). We observed differential price effects on HOMA

  3. 7 CFR 1000.54 - Equivalent price.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Equivalent price. 1000.54 Section 1000.54 Agriculture... Prices § 1000.54 Equivalent price. If for any reason a price or pricing constituent required for computing the prices described in § 1000.50 is not available, the market administrator shall use a price or...

  4. In search of the elusive long-term price

    International Nuclear Information System (INIS)

    Connor, M.J.; Combs, J.

    1989-01-01

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

  5. Jumps and stochastic volatility in oil prices: Time series evidence

    International Nuclear Information System (INIS)

    Larsson, Karl; Nossman, Marcus

    2011-01-01

    In this paper we examine the empirical performance of affine jump diffusion models with stochastic volatility in a time series study of crude oil prices. We compare four different models and estimate them using the Markov Chain Monte Carlo method. The support for a stochastic volatility model including jumps in both prices and volatility is strong and the model clearly outperforms the others in terms of a superior fit to data. Our estimation method allows us to obtain a detailed study of oil prices during two periods of extreme market stress included in our sample; the Gulf war and the recent financial crisis. We also address the economic significance of model choice in two option pricing applications. The implied volatilities generated by the different estimated models are compared and we price a real option to develop an oil field. Our findings indicate that model choice can have a material effect on the option values.

  6. Price Comparisons on the Internet Based on Computational Intelligence

    Science.gov (United States)

    Kim, Jun Woo; Ha, Sung Ho

    2014-01-01

    Information-intensive Web services such as price comparison sites have recently been gaining popularity. However, most users including novice shoppers have difficulty in browsing such sites because of the massive amount of information gathered and the uncertainty surrounding Web environments. Even conventional price comparison sites face various problems, which suggests the necessity of a new approach to address these problems. Therefore, for this study, an intelligent product search system was developed that enables price comparisons for online shoppers in a more effective manner. In particular, the developed system adopts linguistic price ratings based on fuzzy logic to accommodate user-defined price ranges, and personalizes product recommendations based on linguistic product clusters, which help online shoppers find desired items in a convenient manner. PMID:25268901

  7. Mideast crisis and pricing in the oil futures market

    International Nuclear Information System (INIS)

    Hamed, A.H.

    1992-01-01

    Futures prices and the corresponding expected future cash price on crude oil markets differ. The difference is hypothesized to be due to a time varying risk premium where risk is due to either cash price volatility, oil output volatility, or unanticipated oil price movement. And this risk is measured by the conditional variance of the forementioned sources of risk. Using the ARCH (Autoregressive Conditional Heterosckdasticity) model and its extensions this study addresses the determination of the time varying risk premium. Political unrest in the Mideast oil exporting countries is hypothesized to be a determinant of the time varying risk premium in the oil futures market. The empirical tests allow informative inferences to be drawn on the role of political unrest in pricing oil

  8. Consistent Estimation of Pricing Kernels from Noisy Price Data

    OpenAIRE

    Vladislav Kargin

    2003-01-01

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

  9. Oil price prospects

    International Nuclear Information System (INIS)

    Toalster, J.

    1992-01-01

    In this paper, four different, popular approaches to the analysis of oil price movements will be considered and an alternative method will be proposed. Whilst we await the development of a rigorous theoretical framework within which to evaluate the phenomenon of oil price movements some progress may be effected by an amalgam of approaches, with the traditional supply and demand model being supplemented by observations regarding political and social developments in particular countries or regions, together with an assessment of emerging and prospective technological achievements. In this way it should be possible to identify the critical influences at work, from which it should also be possible to select either the single most important variable or combination of variables, affecting the oil price. Moreover, it is my belief that the crucial variables influencing the oil price almost certainly, are more likely to be political and social, rather than economic. In this context and notwithstanding the fact that there is only a minimal level of surplus productive capacity in the world oil industry at present (perhaps 1-2 million b/d albeit rising rapidly), it is reasonable to conclude that oil prices will average around $18-19 a barrel for North Sea Brent in 1992 and 1993, with oscillations of $2-4 a barrel either side, rising slightly in 1994 to $19-20 a barrel and to $20-21 a barrel in 1995. Thereafter, the most likely outcome is for a rise in line with inflation (say $ a barrel/annum) with no prospect of an upward spike, because demand will be weaker than most commentators expect up to the year 2000, whilst OPEC oil supplies will be substantially higher than the consensus forecast. (author)

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

    International Nuclear Information System (INIS)

    Adom, Philip Kofi

    2017-01-01

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

  11. Hawaiian Fish Distributors Data

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — This is proprietary sales data from one Kona-based fish dealer for August 1986 to Decemeber 1988. Fishing was generally around Kona. This is Dealer Data and is...

  12. Export pricing objectives and factors influencing them

    OpenAIRE

    Snieškienė, Gabrielė; Pridotkienė, Jūratė

    2010-01-01

    Pricing is recognized as one of the most important tools to achieve a successful export operation. The starting point in every pricing effort is the process of creating pricing objectives. Pricing objectives are the strategic and economic goals desired by management in pricing the product. Pricing objectives constitute the basis on which pricing methods and policies are formulated. Therefore, a better understanding of the pricing objectives should direct the company’s overall pricing process....

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

    Science.gov (United States)

    Tsourougiannis, Dimitrios

    2017-01-01

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

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

    Science.gov (United States)

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

    2018-01-01

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

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

    Science.gov (United States)

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

    2014-12-01

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

  16. Demand side management in recycling and electricity retail pricing

    Science.gov (United States)

    Kazan, Osman

    This dissertation addresses several problems from the recycling industry and electricity retail market. The first paper addresses a real-life scheduling problem faced by a national industrial recycling company. Based on their practices, a scheduling problem is defined, modeled, analyzed, and a solution is approximated efficiently. The recommended application is tested on the real-life data and randomly generated data. The scheduling improvements and the financial benefits are presented. The second problem is from electricity retail market. There are well-known patterns in daily usage in hours. These patterns change in shape and magnitude by seasons and days of the week. Generation costs are multiple times higher during the peak hours of the day. Yet most consumers purchase electricity at flat rates. This work explores analytic pricing tools to reduce peak load electricity demand for retailers. For that purpose, a nonlinear model that determines optimal hourly prices is established based on two major components: unit generation costs and consumers' utility. Both are analyzed and estimated empirically in the third paper. A pricing model is introduced to maximize the electric retailer's profit. As a result, a closed-form expression for the optimal price vector is obtained. Possible scenarios are evaluated for consumers' utility distribution. For the general case, we provide a numerical solution methodology to obtain the optimal pricing scheme. The models recommended are tested under various scenarios that consider consumer segmentation and multiple pricing policies. The recommended model reduces the peak load significantly in most cases. Several utility companies offer hourly pricing to their customers. They determine prices using historical data of unit electricity cost over time. In this dissertation we develop a nonlinear model that determines optimal hourly prices with parameter estimation. The last paper includes a regression analysis of the unit generation cost

  17. Reducing the Burden of Price.

    Science.gov (United States)

    Hansen, Janet S.

    1984-01-01

    Setting prices for undergraduate education and assessing their effects on consumers and institutions is complicated by widespread price discounting. Student aid programs, credit, subsidized employment, and tax policy can reduce the actual costs paid by students and their families. (MSE)

  18. Pricing strategies for information goods

    Indian Academy of Sciences (India)

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

    gaming, and education. ... Traditional cost-based pricing ... traditional optimisation models (for instance, the integer programming model described in ...... (1998), many of the key results that shaped modern reasoning about price and product ...

  19. Technical Note—Delegating Pricing Responsibility to the Salesforce

    OpenAIRE

    Rajiv Lal

    1986-01-01

    In this paper, we use an agency theory framework to address the issue of delegating pricing responsibility to the salesperson. In this analysis, it is shown that delegating the pricing responsibility to the salesperson is as profitable as centralization when the salesperson and the sales manager have identical information about the selling environment; but delegation may be more profitable when the saleperson's information is superior to that of the sales manager's. It is also argued that thi...

  20. Stock Market Prices and the Market for Corporate Control

    OpenAIRE

    Armour, John; Cheffins, Brian Robert

    2016-01-01

    The manner in which hostile takeovers have historically been executed has just begun to receive serious academic attention. Similarly, while the literature on the accuracy and determinants of share prices is voluminous, there has been little systematic historical analysis of when and how modern standards of share price efficiency took shape. This article addresses both subjects in depth to ascertain the extent to which developments in the market for corporate control may have been associated ...

  1. Optimal Pricing Strategies for New Products in Dynamic Oligopolies

    OpenAIRE

    Engelbert Dockner; Steffen Jørgensen

    1988-01-01

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

  2. Hearing focuses on price of Norplant; Wyeth pledges discount for public sector.

    Science.gov (United States)

    1993-11-23

    In November 1993, Democratic US Representative Ron Wyden held a hearing on the cost of the contraceptive implant Norplant. Its US distributor, Wyeth-Ayerst, informed the US House Subcommittee on Regulation, Business Opportunities and Technology that it would offer the public sector a discounted price for Norplant 5 years after it had been on the US market. Public funds contributed to the development of Norplant. USAID provided $17.2 million of the $41.3 million that the Population Council spent on developing Norplant. Wyeth provided the Council levonorgestrel, the drug used in Norplant, thereby holding the right to market Norplant in the US and Canada. USAID buys Norplant from the distributor for all other countries for $23, while Wyeth sells Norplant in a package of insertion and educational materials for $365. This large gap infuriates groups providing family planning services to low-income women. Medicaid pays for Norplant and its insertion for the poorest women. Wealthier women either pay for Norplant themselves, or their health insurance pays for it. This leaves low-income women with no access to Norplant. Wyeth has formed the Norplant Foundation to provide Norplant to low-income women whom Medicaid will not cover. It also trains most providers in insertion and removal procedures. The law requires Wyeth to reimburse qualified public health clinics 15% of costs. The reason Wyeth does not yet give the public sector a discounted price is that it wants Norplant to become firmly entrenched in the private sector first. Other panelists commented on how Norplant's success may encourage other companies to return to contraception research. Liability and political controversy are still concerns, however. Another panelist expressed concern that consumers have become too dependent on pharmaceutical companies and their commercial interests.

  3. FAS 33: accurately recording effects of changing prices.

    Science.gov (United States)

    Sage, L G

    1987-02-01

    FAS 33 addresses the problem of distortion in conventional historical cost financial statements because of changing prices. It requires 1300 business enterprises to report selected changing price data on a supplementary basis. It has been demonstrated that it is also feasible and beneficial for hospitals to present price disclosures as supplementary information to their financial statements. The possible application of FAS 33 is supported on the basis that the accounting and reporting methods of healthcare institutions are similar to the accounting and reporting practices of profit-seeking entities.

  4. Pricing objectives in nonprofit hospitals.

    OpenAIRE

    Bauerschmidt, A D; Jacobs, P

    1985-01-01

    This article reports on a survey of 60 financial managers of nonprofit hospitals in the eastern United States relating to the importance of a number of factors which influence their pricing decisions and the pricing objectives which they pursue. Among the results uncovered by the responses: that trustees are the single most important body in the price-setting process (doctors play a relatively unimportant role); that hospital pricing goals are more related to target net revenue than profit ma...

  5. Immigration and Swiss House Prices

    OpenAIRE

    Kathrin Degen; Andreas M. Fischer

    2010-01-01

    This study examines the behavior of Swiss house prices to immigration flows for 85 districts from 2001 to 2006. The results show that the nexus between immigration and house prices holds even in an environment of low house price inflation, nationwide rent control, and modest immigration flows. An immigration inflow equal to 1% of an area's population is coincident with an increase in prices for single-family homes of about 2.7%: a result consistent with previous studies. The overall immigrati...

  6. Brand the Pricing: Critical Critique

    OpenAIRE

    Alam Kazmi, Syed Hasnain

    2015-01-01

    Brand pricing decision models and established theories in the marketing and econometrics focus typically on assuming the symmetric competing businesses. The empirical generalities are key for strategic marketplace planning. The significance of pricing to customer store and brand choices are always regarded as a widely known truth among marketing scholars and explains consumer’s role responding to their psychological representations of price rather than price itself. Scholars have ...

  7. Electric Cars and Oil Prices

    OpenAIRE

    Azar, Jose

    2009-01-01

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

  8. Strategic pricing of equity issues

    OpenAIRE

    Klaus Ritzberger; Frank Milne

    2002-01-01

    Consider a general equilibrium model where agents may behave strategically. Specifically, suppose some firm issues new shares. If the primary market price is controlled by the issuing institution and investors' expectations on future equity prices are constant in their share purchases, the share price on the primary market cannot exceed the secondary market share price. In certain cases this may imply strict underpricing of newly issued shares. If investors perceive an influence on future sha...

  9. Pricing of Asian temperature risk

    OpenAIRE

    Benth, Fred; Härdle, Wolfgang Karl; López Cabrera, Brenda

    2009-01-01

    Weather derivatives (WD) are different from most financial derivatives because the underlying weather cannot be traded and therefore cannot be replicated by other financial instruments. The market price of risk (MPR) is an important parameter of the associated equivalent martingale measures used to price and hedge weather futures/options in the market. The majority of papers so far have priced non-tradable assets assuming zero MPR, but this assumption underestimates WD prices. We study the MP...

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

    DEFF Research Database (Denmark)

    Boom, Anette

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

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

    DEFF Research Database (Denmark)

    Boom, Anette

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

  12. Asymmetric Price Effects of Competition

    NARCIS (Netherlands)

    Lach, S.; Moraga Gonzalez, J.L.

    2017-01-01

    When price dispersion is prevalent, a relevant question is what happens to the whole distribution of equilibrium prices when the number of firms changes. Using data from the gasoline market in the Netherlands, we find, first, that markets with N competitors have price distributions that first-order

  13. Price Discrimination: A Classroom Experiment

    Science.gov (United States)

    Aguiló, Paula; Sard, Maria; Tugores, Maria

    2016-01-01

    In this article, the authors describe a classroom experiment aimed at familiarizing students with different types of price discrimination (first-, second-, and third-degree price discrimination). During the experiment, the students were asked to decide what tariffs to set as monopolists for each of the price discrimination scenarios under…

  14. The Pricing of Economics Books.

    Science.gov (United States)

    Laband, David; Hudson, John

    2003-01-01

    Examines the pricing and other characteristics of books. Notes substantial increases in book prices between 2000 and 1985 data. Suggests a major factor is the increasing importance of foreign presses that sell books at higher prices. Indicates that discount on paperbacks appear to have been relatively stable in the two years studied. (JEH)

  15. Asymmetric price effects of competition

    NARCIS (Netherlands)

    Lach, S.; Moraga González, José

    2017-01-01

    When price dispersion is prevalent, a relevant question is what happens to the whole distribution of equilibrium prices when the number of firms changes. Using data from the gasoline market in the Netherlands, we find, first, that markets with N competitors have price distributions that first‐order

  16. Fundamental Economic Factors That Affect Housing Prices: Comparative Analysis between Kosovo and Slovenia

    Directory of Open Access Journals (Sweden)

    Visar Hoxha

    2014-12-01

    Full Text Available The purpose of this study is to provide strategic implications for real estate appraisers and real estate managers to know the economic determinants of housing price dynamics in Kosovo. The fundamental economic determinants of housing prices, adopted from previous studies, are Gross Domestic Product growth, demographics, real interest rates, and construction costs. The research methodology used is quantitative factor analysis. The main question addressed is, whether the conventional fundamental determinants of housing prices, such as Gross Domestic Product per capita, real interest rates, demographic factors, and construction costs have driven the observed housing prices in Kosovo. By sampling the determinants of housing prices in Kosovo, the study shows their effects on housing price dynamics. The study shows that housing prices in Kosovo are significantly determined by the underlying conventional fundamentals. This is the first research that tries to determine whether the fundamental economic factors influence the housing prices in Kosovo.

  17. An empirical analysis of gasoline price convergence for 20 OECD countries

    Energy Technology Data Exchange (ETDEWEB)

    Bentzen, J.

    2003-07-01

    Two decades have passed now since the oil price shocks of the 1970s and since then energy prices have - apart from short periods of price instability - evolved relatively smoothly in the industrialized countries. Energy taxes in many countries differ markedly thereby causing differences in final energy prices, but as similar tax levels are becoming more common, e.g. in the European Union, convergence concerning energy prices might be expected to appear. In the present paper national gasoline price data covering the time period since the 1970s for a sample of OECD countries are used in order to test for this often addressed topic of convergence. The empirical part of the paper applies different time series based tests of convergence, where gasoline prices exhibit convergence for most OECD-Europe countries in the case where US$ is used for measurement of the energy prices indicating a convergence or tax harmonization process is taking place for these countries. (au)

  18. An empirical analysis of gasoline price convergence for 20 OECD countries

    International Nuclear Information System (INIS)

    Bentzen, J.

    2003-01-01

    Two decades have passed now since the oil price shocks of the 1970s and since then energy prices have - apart from short periods of price instability - evolved relatively smoothly in the industrialized countries. Energy taxes in many countries differ markedly thereby causing differences in final energy prices, but as similar tax levels are becoming more common, e.g. in the European Union, convergence concerning energy prices might be expected to appear. In the present paper national gasoline price data covering the time period since the 1970s for a sample of OECD countries are used in order to test for this often addressed topic of convergence. The empirical part of the paper applies different time series based tests of convergence, where gasoline prices exhibit convergence for most OECD-Europe countries in the case where US$ is used for measurement of the energy prices indicating a convergence or tax harmonization process is taking place for these countries. (au)

  19. Evaluation of dynamic pass-through of carbon prices into electricity prices – a cointegrated VECM analysis

    OpenAIRE

    Freitas, Carlos J. Pereira; Silva, Patrícia Pereira da

    2013-01-01

    This paper addresses the impact of the CO2 opportunity cost on the wholesale electricity price in the context of the Iberian electricity market (MIBEL), namely on the Portuguese system, for the period corresponding to the Phase II of the European Union Emission Trading Scheme (EU ETS). In the econometric analysis a vector error correction model (VECM) is specified to estimate both long–run equilibrium relations and short–run interactions between the electricity price and the fuel (natural gas...

  20. Structural change and forecasting long-run energy prices

    International Nuclear Information System (INIS)

    Bernard, J.T.; Khalaf, L.

    2004-01-01

    Fluctuating energy prices have a significant impact on the economies of industrialized nations. A recent study has shown a strong non-linear relationship between changes in oil prices and growth in gross domestic product (GDP). In order to forecast the behaviour of energy prices, a complete model must take into account domestic and international supply and demand conditions, market regulations, technological advances and geopolitics. In 1999, Pindyck suggested that for long-term forecasting, a simple model should be adopted where prices grow in real terms and at a fixed rate. This paper tests the statistical significance of Pindyck's suggested class of econometric equations that model the behaviour of long-run real energy prices. The models assume mean-reverting prices with continuous and random changes in their level and trend. They are estimated using Kalman filtering. The authors used simulation-based procedures to address the issue of non-standard test statistics and nuisance parameters. Results were reported for a standard Monte Carlo test and a maximized Monte Carlo test. Results shown statistically significant instabilities for coal and natural gas prices, but not for crude oil prices. Various models were differentiated using out-of-sample forecasting exercises. 25 refs., 3 tabs

  1. Uranium price forecasting methods

    International Nuclear Information System (INIS)

    Fuller, D.M.

    1994-01-01

    This article reviews a number of forecasting methods that have been applied to uranium prices and compares their relative strengths and weaknesses. The methods reviewed are: (1) judgemental methods, (2) technical analysis, (3) time-series methods, (4) fundamental analysis, and (5) econometric methods. Historically, none of these methods has performed very well, but a well-thought-out model is still useful as a basis from which to adjust to new circumstances and try again

  2. Albania Residential Prices

    Directory of Open Access Journals (Sweden)

    Luciana Koprencka

    2016-04-01

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

  3. Record prices [crude oil

    International Nuclear Information System (INIS)

    Anon

    2006-01-01

    Crude oil prices climbed to new record levels on fears of a future loss of supplies from Iran as Washington stepped up its efforts to persuade Tehran to abandon its programme to produce nuclear fuel. IPE's December Brent contract set a new record for the exchange by trading at $75.80/bbl on 21st April. On the same day October WTI reached an all-time high of $77.30/bbl on Nymex. US product prices gained as refiners struggled to produce sufficient middle distillate. Alarmed by the rising retail price of gasoline, the US Senate debated a reduction in the already low US tax rate on motor spirit. The House of Representatives passed a measure to prohibit overcharging for petrol, diesel and heating oil, but Democrats rejected a Republican proposal to speed-up the process for approving new refineries. President George W Bush announced a temporary easing of new gasoline and diesel specifications (see 'Focus', March 2006) to allow more fuel to be produced. He also agreed to delay the repayment of some 2.1 mn bbl of crude oil lent to companies after last year's hurricanes from the Strategic Petroleum Reserve. California announced an inquiry into alleged overcharging for fuel by oil companies operating in the state. (author)

  4. Customer response to day-ahead market hourly pricing: Choices and performance

    International Nuclear Information System (INIS)

    Hopper, Nicole; Goldman, Charles; Bharvirkar, Ranjit; Neenan, Bernie

    2006-01-01

    Real-time pricing (RTP) has been advocated to address extreme price volatility and market power in electricity markets. This study of Niagara Mohawk Power Corporation's largest customers analyzes their choices and performance in response to day-ahead, default-service RTP. Overall price response is modest: 119 customers are estimated to reduce their peak demand by about 10% at high prices. Manufacturing customers are most responsive with a price elasticity of 0.16, followed by government/education customers (0.11), while commercial/retail, healthcare and public works customers are, at present, relatively unresponsive. Within market segments, individual customer response varies significantly. (author)

  5. Chaotic structure of oil prices

    Science.gov (United States)

    Bildirici, Melike; Sonustun, Fulya Ozaksoy

    2018-01-01

    The fluctuations in oil prices are very complicated and therefore, it is unable to predict its effects on economies. For modelling complex system of oil prices, linear economic models are not sufficient and efficient tools. Thus, in recent years, economists attached great attention to non-linear structure of oil prices. For analyzing this relationship, GARCH types of models were used in some papers. Distinctively from the other papers, in this study, we aimed to analyze chaotic pattern of oil prices. Thus, it was used the Lyapunov Exponents and Hennon Map to determine chaotic behavior of oil prices for the selected time period.

  6. Michigan residential heating oil and propane price survey: 1995-1996 heating season. Final report

    International Nuclear Information System (INIS)

    Moriarty, C.

    1996-05-01

    This report summarizes the results of a survey of residential No. 2 distillate fuel (home heating oil) and liquefied petroleum gas (propane) prices over the 1995--1996 heating season in Michigan. The Michigan's Public Service Commission (MPSC) conducted the survey under a cooperative agreement with the US Department of Energy's (DOE) Energy Information Administration (EIA). This survey was funded in part by a grant from the DOE. From October 1995 through March 1996, the MPSC surveyed participating distributors by telephone for current residential retail home heating oil and propane prices. The MPSC transmitted the data via a computer modem to the EIA using the Petroleum Electronic Data Reporting Option (PEDRO). Survey results were published in aggregate on the MPSC World Wide Web site at http://ermisweb.state.mi.us/shopp. The page was updated with both residential and wholesale prices immediately following the transmission of the data to the EIA. The EIA constructed the survey using a sample of Michigan home heating oil and propane retailers. The sample accounts for different sales volumes, geographic location, and sources of primary supply

  7. Addressing Counterfeit Parts in the DoD Supply Chain

    Science.gov (United States)

    2014-03-01

    property rights to that part. Franchised distributor Distributor with which OCM has a contractual agreement to buy , stock, repackage, sell, and...because the DoD is not the largest buyer of microelectronics, the private sector market must buy into DNA tagging in order for manufacturers to include...tacitly acknowledged that “it is impossible to eliminate all risk of counterfeit in every system that the DoD buys or supports” (p. 3). Thus, Metzger

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

    International Nuclear Information System (INIS)

    Lim, Seul-Ye; Yoo, Seung-Hoon

    2013-01-01

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

  9. Selected Films for Young Adults, 1984.

    Science.gov (United States)

    Top of the News, 1984

    1984-01-01

    This 22-item filmography of 16mm films recommended for use in programs planned for young adults was compiled by the Selected Films for Young Adults Committee, Young Adult Services Division, American Library Association. Producers, directors, distributors, length, price, and brief annotations are provided. Addresses for 12 distributors are…

  10. Price floors for emissions trading

    International Nuclear Information System (INIS)

    Wood, Peter John; Jotzo, Frank

    2011-01-01

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

  11. Trading network predicts stock price.

    Science.gov (United States)

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

    2014-01-16

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

  12. Reciprocity, World Prices and Welfare

    DEFF Research Database (Denmark)

    Raimondos-Møller, Pascalis; Woodland, Alan D.

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

  13. Price setting in turbulent times

    DEFF Research Database (Denmark)

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

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

  14. Oil price uncertainty in Canada

    Energy Technology Data Exchange (ETDEWEB)

    Elder, John [Department of Finance and Real Estate, 1272 Campus Delivery, Colorado State University, Fort Collins, CO 80523 (United States); Serletis, Apostolos [Department of Economics, University of Calgary, Calgary, Alberta (Canada)

    2009-11-15

    Bernanke [Bernanke, Ben S. Irreversibility, uncertainty, and cyclical investment. Quarterly Journal of Economics 98 (1983), 85-106.] shows how uncertainty about energy prices may induce optimizing firms to postpone investment decisions, thereby leading to a decline in aggregate output. Elder and Serletis [Elder, John and Serletis, Apostolos. Oil price uncertainty.] find empirical evidence that uncertainty about oil prices has tended to depress investment in the United States. In this paper we assess the robustness of these results by investigating the effects of oil price uncertainty in Canada. Our results are remarkably similar to existing results for the United States, providing additional evidence that uncertainty about oil prices may provide another explanation for why the sharp oil price declines of 1985 failed to produce rapid output growth. Impulse-response analysis suggests that uncertainty about oil prices may tend to reinforce the negative response of output to positive oil shocks. (author)

  15. Does Pharmaceutical Pricing Transparency Matter? Examining Brazil's Public Procurement System.

    Science.gov (United States)

    Kohler, Jillian Clare; Mitsakakis, Nicholas; Saadat, Faridah; Byng, Danalyn; Martinez, Martha Gabriela

    2015-08-04

    widely used medicines. This is indicative of a limited model for addressing the challenges in pharmaceutical procurement and puts into question the value of tools used globally to improve transparency in pharmaceutical pricing.

  16. Overview of external reference pricing systems in Europe.

    Science.gov (United States)

    Rémuzat, Cécile; Urbinati, Duccio; Mzoughi, Olfa; El Hammi, Emna; Belgaied, Wael; Toumi, Mondher

    2015-01-01

    External reference pricing (ERP) is a price regulation tool widely used by policy makers in the European Union (EU) Member States (MS) to contain drug cost, although in theory, it may contribute to modulate prices up and down. The objective of this article was to summarise and discuss the main findings of part of a large project conducted for the European Commission ('External reference pricing of medicinal products: simulation-based considerations for cross-country coordination'; see www.ec.europa.eu/health/healthcare/docs/erp_reimbursement_medicinal_products_en.pdf) that aimed to provide an overview of ERP systems, both on processes and potential issues in 31 European countries (28 EU MS, Iceland, Norway, and Switzerland). A systematic structured literature review was conducted to identify and characterise the use of ERP in the selected countries, to describe its impact on the prices of pharmaceuticals, and to discuss the possible cross-country coordination issues in EU MS. This research was complemented with a consultation of competent authorities' and international organisations' representatives to address the main issues or uncertainties identified through the literature review. All selected countries applied ERP, except the United Kingdom and Sweden. Twenty-three countries used ERP as the main systematic criterion for pricing. In the majority of European countries, ERP was based on legislated pricing rules with different levels of accuracy. ERP was applied either for all marketed drugs or for specific categories of medicines; it was mainly used for publicly reimbursed medicines. The number of reference countries included in the basket varied from 1 to 31. There was a great variation in the calculation methods used to compute the price; 15 countries used the average price, 7 countries used the lowest price, and 7 countries used other calculation methods. Reported limitations of ERP application included the lack of reliable sources of price information, price

  17. Industrial Pricing: Theory and Managerial Practice

    OpenAIRE

    Peter M. Noble; Thomas S. Gruca

    1999-01-01

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

  18. The pricing of capital services over time

    International Nuclear Information System (INIS)

    Valle, A.P.D.; Watkins, G.C.

    1990-01-01

    In 1982, the Canadian National Energy Board and McGill University sponsored a conference on pipeline regulation in an inflationary era, focussing especially on the possible introduction of some form of tariff levelling. Ironically, shortly after the conference proceedings were published the very concerns addressed receded: inflation declined markedly and emerging weaknesses in oil and gas prices saw the demise or deferral of big projects with large up-front investments, the very projects which had excited interest in developing new regulatory techniques. This paper is organized in three main sections. Section I outlines the problems raised by traditional tariff regulation. Section II develops and discusses theoretical aspects of alternative rate structures. Section II focuses on practical problems of implementing rate structures that, on the face of it, have a better economic rationale than cost-of-service style pricing. Concluding remarks are made in Section IV

  19. Enhancing medicine price transparency through price information mechanisms.

    Science.gov (United States)

    Hinsch, Michael; Kaddar, Miloud; Schmitt, Sarah

    2014-05-08

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

  20. Pricing and tariffs

    International Nuclear Information System (INIS)

    Dyrelund, A.

    1993-01-01

    Danish suppliers of electricity and district heating are with a few exceptions either public utilities or cooperatives owned by consumers. The basic tariff regulations for electricity and heat in Denmark state that the tariff has to cover all costs and that only a reasonable interest of invested capital may be included in the tariff. Consequently, all profit has to be used to lower prices. For municipality-owned utilities the consumer prices would be the same if the consumers were the owners. It is typical for the district heating and electricity sector that the technical system, the organizations involved and the tariff levels show the same structure: Plants - transmission - distribution - consumer. E.g. the price of energy from the transmission system includes costs of plants and transmission, but not costs of distribution. Concerning energy saving measures in buildings it is important to note that energy saving measures should not be evaluated on the basis of saved GJ (Giga Joule) thermal energy and GJ electricity because the fuel energy consumption and the share of variable costs depend on the supply system. To find least-cost solutions to satisfy the basic demand for energy services, it is necessary to be aware of the whole chain of elements from fuel to services: fuel - plant - network - consumer installations - building envelope - services. The consumer tariff is the most important link between the supply systems and the buildings. A reasonably designed incentive tariff may work for least-cost solutions, whereas other tariffs may encourage a waste of resources, either waste of fuel energy or waste of investments. (AB)

  1. Regulation of electricity prices?

    International Nuclear Information System (INIS)

    Mihok, P.

    2006-01-01

    In this paper author deals with the regulation of electricity prices in the Slovak Republic. Author contests the social policy of the government through doped prices of electricity. Two thirds of electricity is generated in nuclear power plants in Slovakia. Hence, it is necessary to focus on the solution of problem of nuclear waste. In 2004 Ministry of Economy stated, that the deficit in nuclear fund, from which the country have to fully cover the costs of liquidation and final disposal of nuclear waste, is estimated in the amount of around 89 billion Slovak crowns (≅ 3.7 billion $). From it, so called historical deficit, which originated because of late foundation of fund, represents officially 15 billion Slovak crowns (≅ 0.62 billion $). In Slovakia exists the real risk, that by maintenance of present state by creation and draw of the fund, it will be possible to ensure only 39 per cent of financial sources necessary for full financial handling of the back part of nuclear energetic. Even though the Ministry of Economy in connection with privatisation of Slovenske elektrarne designed to decrease the transfers of operators of nuclear power plants into nuclear fund. In 2006 the Parliament decreased by the law the level of gains of the fund from sale of nuclear electricity (the second from two components of the gains of the fund) from 6.8 to 5.95 per cent from annual revenues. So the tax of forced reduction of the price of nuclear electricity will be represented by loading of the further generations

  2. Counting addressing method: Command addressable element and extinguishing module

    Directory of Open Access Journals (Sweden)

    Ristić Jovan D.

    2009-01-01

    Full Text Available The specific requirements that appear in addressable fire detection and alarm systems and the shortcomings of the existing addressing methods were discussed. A new method of addressing of detectors was proposed. The basic principles of addressing and responding of a called element are stated. Extinguishing module is specific subsystem in classic fire detection and alarm systems. Appearing of addressable fire detection and alarm systems didn't caused essential change in the concept of extinguishing module because of long calling period of such systems. Addressable fire security system based on counting addressing method reaches high calling rates and enables integrating of the extinguishing module in addressable system. Solutions for command addressable element and integrated extinguishing module are given in this paper. The counting addressing method was developed for specific requirements in fire detection and alarm systems, yet its speed and reliability justifies its use in the acquisition of data on slowly variable parameters under industrial conditions. .

  3. Left-digit price effects on smoking cessation motivation.

    Science.gov (United States)

    MacKillop, James; Amlung, Michael T; Blackburn, Ashley; Murphy, James G; Carrigan, Maureen; Carpenter, Matthew J; Chaloupka, Frank

    2014-11-01

    Cigarette price increases have been associated with increases in smoking cessation, but relatively little is known about this relationship at the level of individual smokers. To address this and to inform tax policy, the goal of this study was to apply a behavioural economic approach to the relationship between the price of cigarettes and the probability of attempting smoking cessation. Adult daily smokers (n=1074; ie, 5+ cigarettes/day; 18+ years old; ≥8th grade education) completed in-person descriptive survey assessments. Assessments included estimated probability of making a smoking cessation attempt across a range of cigarette prices, demographics and nicotine dependence. As price increases, probability of making a smoking cessation attempt exhibited an orderly increase, with the form of the relationship being similar to an inverted demand curve. The largest effect size increases in motivation to make a quit attempt were in the form of 'left-digit effects,' (ie, maximal sensitivity across pack price whole-number changes; eg, US$5.80-6/pack). Significant differences were also observed among the left-digit effects, suggesting the most substantial effects were for price changes that were most market relevant. Severity of nicotine dependence was significantly associated with price sensitivity, but not for all indices. These data reveal the clear and robust relationship between the price of cigarettes and an individual's motivation to attempt smoking cessation. Furthermore, the current study indicates the importance of left-digit price transitions in this relationship, suggesting policymakers should consider relative price positions in the context of tax changes. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://group.bmj.com/group/rights-licensing/permissions.

  4. Meeting competition through negotiated pricing

    International Nuclear Information System (INIS)

    Keith, D.M.; Raper, J.W.

    1990-01-01

    A fundamental premise of negotiated pricing as a demand-side management (DSM) tool is that price determines cost. As the ultimate objective of energy efficiency is to increase electromotive work while conserving resources, negotiated prices can have a significant impact as a DSM tool to force costs down. Three examples are offered of the effect of negotiated pricing as a DSM tool. The examples are a small hydroelectric company and an electric utility authority owned, a utility-to-customer example of negotiated pricing with the Public Service Company of Oklahoma's (PSO) system, and a large paper mill on PSO's system. Some of the major problems associated with negotiated pricing, outside of the human effort of finding and training knowledgeable and skilled negotiators, are: obtaining enough information about the customer or potential customer to be able to determine that in negotiating prices the utility is not giving away more benefits than the utility will gain; developing a pricing plan that fits both the customer's and utility's existing and potential future mode of operation; assuring that other customers who cannot negotiate on their own behalf are not adversely affected by utility revenue shortfalls; making such negotiated prices available to all similarly situated customers, so as not to inadvertently create unfair competitive advantages among them; and defining the shared benefits before and after the fact as a result of having negotiated prices in the first place

  5. Understanding gasoline pricing in Canada

    International Nuclear Information System (INIS)

    2001-04-01

    This brochure is designed to help consumers understand how gasoline is priced and explained why prices increase, fluctuate and vary by location, city or region. The price of a litre of gasoline reflects the costs of crude oil, refining, retailing and taxes. Taxes are usually the largest single component of gasoline prices, averaging 40 to 50 per cent of the pump price. The cost of crude oil makes up another 35 to 45 per cent of the price. Refining costs make up 10 to 15 per cent while the remaining 5 to 10 per cent represents retail costs. Gasoline retailers make a profit of about 1 cent per litre. The latest network technology allows national and regional retail chains to constantly monitor price fluctuations to change their prices at gasoline stations at a moments notice to keep up with the competition and to protect their market shares. Several government studies, plus the Conference Board of Canada, have reported that competition is working in favour of Canadian motorists. This brochure also explained the drawbacks of regulating crude and pump prices with the reminder that crude prices were regulated in the 1970s with many negative consequences. 2 tabs., 1 fig

  6. Transfer Pricing - An Innovative Approach

    Directory of Open Access Journals (Sweden)

    Ramona MAXIM

    2017-06-01

    Full Text Available This paper presents transfer pricing and elements of drafting the transfer pricing file by the big companies. The transfer pricing procedure was founded based upon Order no. 442/2016 and the Fiscal Procedure Code and it represents a method upon which the tax base is transferred from a high tax country to a country with low taxation. This legislation outlines the conditions which companies must observe in order to draft the transfer pricing documentation and the significance thresholds. The purpose to draft a transfer pricing file is to reduce the differences between prices and market value and the actual results of company taxation. Economic double taxation occurs when tax authorities apply price adjustments because the company did not respect the principle of market value. Keeping records of transfer pricing and practicing a price aligned to market requirements contribute to an understanding of business development and the creation of appropriate tax planning. Taking into account all these aspects and the fact that any taxpayer is tempted to pay the lowest possible fees, tax havens become an option. In this context we can speak of a tax haven as a loophole in the use of the market price.

  7. Strong volume, stable prices

    International Nuclear Information System (INIS)

    Anon.

    1993-01-01

    This article is the September-October 1993 market report, providing trading volume and prices in the Uranium market. Activity was brisk, with 15 deals concluded. Six were in the spot concentrates market, with four of the six deals involving U.S. utilities and approximately 1.8M pounds of U3O8 equivalent. There were five conversion deals announced, with four of the five deals involving U.S. utilities. Four deals were concluded in the enrichment market, and the deals involving U.S. utilities were approximately 327k SWUs. On the horizon, there are deals for approximately 4.1M SWU

  8. Priced Timed Automata

    DEFF Research Database (Denmark)

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

    2004-01-01

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

  9. Volatility in energy prices

    International Nuclear Information System (INIS)

    Duffie, D.

    1999-01-01

    This chapter with 58 references reviews the modelling and empirical behaviour of volatility in energy prices. Constant volatility and stochastic volatility are discussed. Markovian models of stochastic volatility are described and the different classes of Markovian stochastic volatility model are examined including auto-regressive volatility, option implied and forecasted volatility, Garch volatility, Egarch volatility, multivariate Garch volatility, and stochastic volatility and dynamic hedging policies. Other volatility models and option hedging are considered. The performance of several stochastic volatility models as applied to heating oil, light oil, natural gas, electricity and light crude oil are compared

  10. PRICING STRATEGY FOR DIGITAL PRODUCTS

    Directory of Open Access Journals (Sweden)

    MARIA MAGDALENA CRIVEANU

    2018-02-01

    Full Text Available The current society imposes an alert pace on companies that need to adapt to change, become more flexible and adopt new strategies to maintain market share. Digital marketing is a useful tool for promoting products, as customers can access a range of product information at any time and from anywhere. At the same time, another advantage on the part of companies is the lower promotion costs as compared to traditional promotional methods, as well as the establishment of a connection and a communication bridge with each client. The most important component in the process of purchasing a product is inevitably the price. It communicates a series of information about the product and the customer so that the price can be an important element of persuasion in relation to other marketing strategies. Most of the time, the smallest price is the most important factor in making a decision about buying a product, and digital marketing offers the posibility to compare prices. In this sense, digital marketing can provide both an advantage and a disadvantage for traders, as the small price may invalidate other marketing strategies or product features. In this sense, pricing is a challenge for marketing departments because the pricing strategy is deferring from the sterile formula of pricing which meant covering costs and making profit. This paper aims to analyze the extent to which price is an important element in purchasing a product, as well as highlighting a variety of methods and techniques used in pricing. Quantitative research is based on a questionnaire applied to 100 respondents in order to identify the correct pricing strategy. Research results communicate an important message to merchants who have to adjust the price of each buyer individually, so that the buyer profile is particularly important in setting the price.

  11. Price sensitive demand with random sales price - a newsboy problem

    Science.gov (United States)

    Sankar Sana, Shib

    2012-03-01

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

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

    International Nuclear Information System (INIS)

    Narayan, Paresh Kumar; Narayan, Seema

    2010-01-01

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

  13. Pricing hazardous substance emissions

    Energy Technology Data Exchange (ETDEWEB)

    Staring, Knut; Vennemo, Haakon

    1998-12-31

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

  14. From tariffs to prices

    International Nuclear Information System (INIS)

    Baena, D. Eduardo Martin

    1998-01-01

    It looks like that all over the World things are changing. Many countries, Spain among them, where electricity regulations were usual, are changing their regulatory mainframe. Since January 1, 1998, electricity production is a deregulated activity in Spain. There has to be open market competition. Prices that are very important for the time coming, have to cover the production cost plus some profits in order to maintain the company profitability. This cultural change applies to all our production facilities, including nuclear power plants. Taking into account this new situation and the nuclear competitiveness, it is important for all of us to understand this issue. As it is well known, nuclear energy is capital intensive, that means it has to compete as base load units due to their low operating costs and their large capital ones. For that reason it is important to reduce as much as possible the operating and maintenance cost as well as the fuel one, which will allow nuclear plants to compete in marginal costs with others units. Nuclear energy, in Spain, is not going to fix the pool price but it has to recover some depreciation through it, the remaining being recovered by the recognition of an important part of the stranded cost. (author)

  15. Pricing hazardous substance emissions

    Energy Technology Data Exchange (ETDEWEB)

    Staring, Knut; Vennemo, Haakon

    1997-12-31

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

  16. TOURISM MARKET: PRICING ISSUES

    Directory of Open Access Journals (Sweden)

    Irina A. Kiseleva

    2016-01-01

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

  17. A Multiperiod Equilibrium Pricing Model

    Directory of Open Access Journals (Sweden)

    Minsuk Kwak

    2014-01-01

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

  18. The price of crude oil

    International Nuclear Information System (INIS)

    Bakhtiari, A.M.S.

    1999-01-01

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

  19. Projections of the energy prices

    International Nuclear Information System (INIS)

    Jankauskas, V.

    1996-01-01

    This article deals with the trends of the main fuel prices development in the Western European markets. There are two possible price development scenarios presented in the article. Transportation costs of various internationally traded fuels from various sources (Russia, Western Europe) are estimated and their most feasible values are considered. Fuel prices for the final big consumers are calculated adding the domestic distribution costs. Trends of heat and electricity price development in Lithuania during the period of 1991-1995 are analyzed. Forecasts of the electricity generation and supply costs are calculated according to various scenarios. Electricity prices will be lowest in the case of the further operation of the Ignalina NPP and low fuel prices in international markets. (author). 8 refs., 14 figs., 4 tabs

  20. Microgrids Real-Time Pricing Based on Clustering Techniques

    Directory of Open Access Journals (Sweden)

    Hao Liu

    2018-05-01

    Full Text Available Microgrids are widely spreading in electricity markets worldwide. Besides the security and reliability concerns for these microgrids, their operators need to address consumers’ pricing. Considering the growth of smart grids and smart meter facilities, it is expected that microgrids will have some level of flexibility to determine real-time pricing for at least some consumers. As such, the key challenge is finding an optimal pricing model for consumers. This paper, accordingly, proposes a new pricing scheme in which microgrids are able to deploy clustering techniques in order to understand their consumers’ load profiles and then assign real-time prices based on their load profile patterns. An improved weighted fuzzy average k-means is proposed to cluster load curve of consumers in an optimal number of clusters, through which the load profile of each cluster is determined. Having obtained the load profile of each cluster, real-time prices are given to each cluster, which is the best price given to all consumers in that cluster.

  1. The Price Equation, Gradient Dynamics, and Continuous Trait Game Theory.

    Science.gov (United States)

    Lehtonen, Jussi

    2018-01-01

    A recent article convincingly nominated the Price equation as the fundamental theorem of evolution and used it as a foundation to derive several other theorems. A major section of evolutionary theory that was not addressed is that of game theory and gradient dynamics of continuous traits with frequency-dependent fitness. Deriving fundamental results in these fields under the unifying framework of the Price equation illuminates similarities and differences between approaches and allows a simple, unified view of game-theoretical and dynamic concepts. Using Taylor polynomials and the Price equation, I derive a dynamic measure of evolutionary change, a condition for singular points, the convergence stability criterion, and an alternative interpretation of evolutionary stability. Furthermore, by applying the Price equation to a multivariable Taylor polynomial, the direct fitness approach to kin selection emerges. Finally, I compare these results to the mean gradient equation of quantitative genetics and the canonical equation of adaptive dynamics.

  2. Price squeezes in electric power: The new Battle of Concord

    International Nuclear Information System (INIS)

    Kwoka, J.E. Jr.

    1992-01-01

    The US Court of Appeals opinion in Town of Concord v. Boston Edison offers a vigorous statement of the position that in a regulated market, what may appear to be a price squeeze almost certainly cannot harm the competitive process and therefore should not be held to violate the antitrust laws. While not disputing the possibility of self-serving claims of price squeezes, this article shows that truly anticompetitive price squeezes may indeed occur in the electric power industry and cannot be so readily dismissed. This analysis begins with a brief factual and economic background on price squeezes, then addresses arguments made in Concord and elsewhere seeking to disprove their possibility, and demonstrate that sound economics and good policy require a more balanced approach

  3. Stock prices and business investment

    OpenAIRE

    Yaron Leitner

    2007-01-01

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

  4. Nonlinear Pricing to Produce Information

    OpenAIRE

    David J. Braden; Shmuel S. Oren

    1994-01-01

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

  5. Essays in Empirical Asset Pricing

    DEFF Research Database (Denmark)

    Rzeznik, Aleksandra

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

  6. Demand Uncertainty and Price Stabilization

    OpenAIRE

    E. Kwan Choi; Stanley R. Johnson

    1987-01-01

    Price stabilization is an important policy goal of government intervention in competitive markets. These policies are primarily directed at raising producer income and stabilizing market prices at levels acceptable to consumers and producers (Fox 1956, Turnovsky 1978, Newbery and Stiglitz 1979). Many of the stabilization policy results have been developed from the study of agricultural commodity markets. In these markets, prices tend to be highly variable due to uncertain and inelastic supply...

  7. Competitive nonlinear pricing and bundling

    OpenAIRE

    Armstrong, Mark; Vickers, John

    2006-01-01

    We examine the impact of multiproduct nonlinear pricing on profit, consumer surplus and welfare in a duopoly. When consumers buy all their products from one firm (the one-stop shopping model), nonlinear pricing leads to higher profit and welfare, but often lower consumer surplus, than linear pricing. By contrast, in a unit-demand model where consumers may buy one product from one firm and another product from another firm, bundling generally acts to reduce profit and welfare and to boost cons...

  8. Asset Pricing and Monetary Policy

    OpenAIRE

    Bingbing Dong

    2014-01-01

    This paper examines the role of money in understanding the behavior of asset prices and whether and how monetary policy should react to asset prices such as stock prices and equity premiums. To do so, I introduce money via the form of transaction cost into a production economy with limited stock market participation where agents with lower inter-temporal elasticity of substitution (IES), called non-stockholders, have no access to stock market. In addition to facilitating transactions of consu...

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

    OpenAIRE

    Mathä, Thomas Y.

    2009-01-01

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

  10. Near-term oil prices

    International Nuclear Information System (INIS)

    Lynch, M.C.

    2001-01-01

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

  11. Alpha Momentum and Price Momentum

    Directory of Open Access Journals (Sweden)

    Hannah Lea Hühn

    2018-05-01

    Full Text Available We analyze a novel alpha momentum strategy that invests in stocks based on three-factor alphas which we estimate using daily returns. The empirical analysis for the U.S. and for Europe shows that (i past alpha has power in predicting the cross-section of stock returns; (ii alpha momentum exhibits less dynamic factor exposures than price momentum and (iii alpha momentum dominates price momentum only in the U.S. Connecting both strategies to behavioral explanations, alpha momentum is more related to an underreaction to firm-specific news while price momentum is primarily driven by price overshooting due to momentum trading.

  12. Transmission pricing: paradigms and methodologies

    Energy Technology Data Exchange (ETDEWEB)

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

    1994-12-31

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

  13. Energy pricing under uncertain supply

    International Nuclear Information System (INIS)

    Serra, P.J.

    1997-01-01

    This paper introduces a new pricing system - based on the Chilean tariff regulations - to deal with an uncertain energy supply. It consists of a basic rate for each unit actually consumed and a compensation that the utilities pay their customers for each unit of energy that they voluntarily reduce below their normal consumption during an energy shortage. Within the framework of a model that portrays the stylized facts of the Chilean electric system, and assumes risk-neutral agents, this paper shows the equivalency of the new pricing system with both contingent pricing and priority pricing. (Author)

  14. Producers give prices a boost

    International Nuclear Information System (INIS)

    Anon.

    1992-01-01

    Uranium producers came alive in August, helping spot prices crack the $8.00 barrier for the first time since March. The upper end of NUKEM's price range actually finished the month at $8.20. Scrambling to fulfill their long-term delivery contracts, producers dominate the market. In the span of three weeks, five producers came out for 2 million lbs U3O8, ultimately buying nearly 1.5 million lbs. One producer accounted for over half this volume. The major factor behind rising prices was that producers required specific origins to meet contract obligations. Buyers willing to accept open origins created the lower end of NUKEM's price range

  15. House Prices and Public Debt

    DEFF Research Database (Denmark)

    Gjedsted Nielsen, Mads; Rzeznik, Aleksandra

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

  16. The determinants of oil prices

    International Nuclear Information System (INIS)

    Angelier, J-P.

    1991-01-01

    In recent years, swings in oil prices have been of unprecendented severity and frequency. Three factors work together to determine the price of oil: in the short term, the balance between supply and demand; in the medium term, the structure of the oil industry; and in the long term, the marginal production cost consistent with world oil demand. An oil price forecast is presented based on these considerations, and it is predicted that in the year 2000, oil prices will not be significantly different from those of today. 28 refs

  17. Price Strategies in Banking Marketing

    Directory of Open Access Journals (Sweden)

    Iuliana Cetina

    2007-01-01

    Full Text Available All organizations must settle a price for the services they offer. The price for services is an important element of the marketing mix, being an important income source for the organization. The settlement of a correct price, both for the market and the competition, is a significant element for the sector of financial - banking services. Another important factor to take into consideration is the fact that the banks do not settle only the prices for individual services, but also coordinate their prices for service packages. As the competition in the financial - banking services has intensified, the settlement of correct prices has become an essential element for the marketing strategy. Nevertheless it is important to remind that the price is not a central element. There are other significant grounds, the price being only one of the elements of the marketing mix. Although in Romania many customers may be sensitive in present to the price, as the competition will increase, the quality of the services will become more important to the customers, and the demand will be complex.

  18. What is a new drug worth? An innovative model for performance-based pricing.

    Science.gov (United States)

    Dranitsaris, G; Dorward, K; Owens, R C; Schipper, H

    2015-05-01

    This article focuses on a novel method to derive prices for new pharmaceuticals by making price a function of drug performance. We briefly review current models for determining price for a new product and discuss alternatives that have historically been favoured by various funding bodies. The progressive approach to drug pricing, proposed herein, may better address the views and concerns of multiple stakeholders in a developed healthcare system by acknowledging and incorporating input from disparate parties via comprehensive and successive negotiation stages. In proposing a valid construct for performance-based pricing, the following model seeks to achieve several crucial objectives: earlier and wider access to new treatments; improved transparency in drug pricing; multi-stakeholder involvement through phased pricing negotiations; recognition of innovative product performance and latent changes in value; an earlier and more predictable return for developers without sacrificing total return on investment (ROI); more involved and informed risk sharing by the end-user. © 2014 John Wiley & Sons Ltd.

  19. Transfer prices – a debate amongst multinational companies and tax authorities

    Directory of Open Access Journals (Sweden)

    Gheorghe MATEI

    2017-11-01

    Full Text Available Transfer pricing is a topical subject because it has a strong impact on affiliated companies as well as on the countries in which these companies operate. Transfer pricing is one of the most important aspects of international tax, but a practical approach will help to focus on solutions to these problems, solutions that will help countries emerging to address evaluation issues transfer pricing in which is robust and equitable to all parties involved.

  20. Essays in financial transmission rights pricing

    Science.gov (United States)

    Posner, Barry

    transmission paths in the Delmarva Peninsula were examined. The maximum-likelihood two-way Tobit model developed in Chapter One consistently predicts the expected responses to the independent variables that have employed, but the model as defined here does a poor job of predicting prices. This is likely due to the inability to include system outages (i.e., short-term changes in the structure of the transmission grid) as variables in the estimation model. The second chapter addresses the behavior of firms in the monthly auctions for FTRs. FTRs are a claim to congestion rent revenues along a certain path within the PJM grid, and are awarded in a uniform-price divisible-goods auction. Firms typically submit a schedule of bids for different amounts of FTR at different prices, akin to a demand curve. A firm bidding too high a price may cause the clearing price of the FTR to be higher than the realized value of the FTR, creating a loss from ownership of the FTR. A firm bidding too low means that it wins no FTRs, depriving itself of the ability to profit from ownership or to hedge against congestion. Several questions concerning firm behavior are addressed in this study. It is found that firms adjust their bids in response to new information that is obtained from past auctions: they raise or lower bids in accordance with changes in recent FTR prices and payoffs. Firms consistently bid below the value of the FTR (i.e., shade their bids). This adds empirical evidence to the theoretically-posited notion that uniform-price auctions are not truth-telling, unlike the second-price auction for a non-divisible good. Firms employ greater bid-shading in response to increases in the volatility of both FTR clearing prices and realized FTR values. This validates the notion that firms are risk-averse. It is discovered that better-informed "insider" firms employ structurally different bidding strategies, but these differences do not lead to greater profits. However, profits do increase as firms gain

  1. Port pricing : principles, structure and models

    OpenAIRE

    Meersman, Hilde; Strandenes, Siri Pettersen; Van de Voorde, Eddy

    2014-01-01

    Price level and price transparency are input to shippers’ choice of supply chain and transport mode. In this paper, we analyse current port pricing structures in the light of the pricing literature and consider opportunities for improvement. We present a detailed overview of pricing criteria, who sets prices and who ultimately foots the bill for port-of-call charges, cargo-handling fees and congestion charges. Current port pricing practice is based on a rather linear structure and fails to in...

  2. Factors affecting the attrition of community-directed distributors of ivermectin, in an onchocerciasis-control programme in the Imo and Abia states of south-eastern Nigeria.

    Science.gov (United States)

    Emukah, E C; Enyinnaya, U; Olaniran, N S; Akpan, E A; Hopkins, D R; Miri, E S; Amazigo, U; Okoronkwo, C; Stanley, A; Rakers, L; Richards, F O; Katabarwa, M N

    2008-01-01

    In areas of Nigeria where onchocerciasis is endemic, community-directed distributors (CDD) distribute ivermectin annually, as part of the effort to control the disease. Unfortunately, it has been reported that at least 35% of the distributors who have been trained in Nigeria are unwilling to participate further as CDD. The selection and training of new CDD, to replace those unwilling to continue, leads to annual expense that the national onchocerciasis-programme is finding difficult to meet, given other programme priorities and the limited resources. If the reported levels of attrition are true, they seriously threaten the sustainability of community-directed treatment with ivermectin (CDTI) in Nigeria. In 2002, interviews were held with 101 people who had been trained as CDD, including those who had stopped serving their communities, from 12 communities in south-eastern Nigeria that had high rates of CDD attrition. The results showed that, although the overall reported CDD attrition was 40.6%, the actual rate was only 10.9%. The CDD who had ceased participating in the annual rounds of ivermectin blamed a lack of incentives (65.9%), the demands of other employment (14.6%), the long distances involved in the house-to-house distribution (12.2%) or marital duties (7.3%). Analysis of the data obtained from all the interviewed CDD showed that inadequate supplies of ivermectin (P<0.01), lack of supervision (P<0.05) and a lack of monetary incentives (P<0.001) led to significant increases in attrition. Conversely, CDD retention was significantly enhanced when the distributors were selected by their community members (P<0.001), supervised (P<0.001), supplied with adequate ivermectin tablets (P<0.05), involved in educating their community members (P<0.05), and/or involved in other health programmes (P<0.001). Although CDD who were involved in other health programmes were relatively unlikely to cease participating in the distributions, they were more likely to take longer

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

    Science.gov (United States)

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

    2011-12-01

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

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

    DEFF Research Database (Denmark)

    Proietti, Tomasso; Haldrup, Niels; Knapik, Oskar

    Electricity spot prices are subject to transitory sharp movements commonly referred to as spikes. The paper aims at assessing their effects on model based inferences and predictions, with reference to the Nord Pool power exchange. We identify a spike as a price value which deviates substantially...

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

    NARCIS (Netherlands)

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

    2010-01-01

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

  6. Revisiting port pricing : a proposal for seven port pricing principles

    NARCIS (Netherlands)

    Van Den Berg, R.; De Langen, P.W.; Van Zuijlen, P.C.J.

    2017-01-01

    A review of seven large landlord port authorities around the world reveals a notable diversity of pricing structures. While port authorities increasingly act as commercial undertakings, port pricing often seems to be not driven by commercial considerations. In this paper, we argue that ports can be

  7. Are high oil prices a threat for the price stability?

    International Nuclear Information System (INIS)

    Mollerus, A.

    2000-01-01

    The high price for oil and the decreased value of the Euro increase the risks for the stability of prices. Still, the prospects for inflation are favorable for the Euro zone. Less favorable are the consequences for the Netherlands, while the inflation difference with the Euro zone appears to become bigger, in particular as a result of the new Tax regulations in the Netherlands

  8. The oil barrel price

    International Nuclear Information System (INIS)

    Blondy, J.; Papon, P.

    2009-01-01

    This paper proposes an overview and a prospective glance on the oil barrel price. It indicates the relevant indicators: Brent quotation, euro/dollar parity, economic activity indicators, world oil consumption distribution, crude oil production, refining capacity. It briefly presents the involved stake holders: crude oil producers, oil refiners, refined product dealers, and the OPEC. It discusses the major retrospective trends: evolution in relationship with geopolitical events and energy policies, strong correlation between oil demand and economic growth, prevalence of OPEC, growing importance of national oil companies. An emerging trend is noticed: growing role of emerging countries on the crude market. Some prospective issues are discussed: duration and intensity of economic recession, separation between economic growth and energy consumption, pace and ambition level of policies of struggle against climate change, exploitable resources, and geopolitical hazards. Four evolution hypotheses are discussed

  9. Airport Pricing Strategies

    Science.gov (United States)

    Pels, Eric; Verhoef, Erik T.

    2003-01-01

    Conventional economic wisdom suggests that congestion pricing would be an appropriate response to cope with the growing congestion levels currently experienced at many airports. Several characteristics of aviation markets, however, may make naive congestion prices equal to the value of marginal travel delays a non-optimal response. This paper has developed a model of airport pricing that captures a number of these features. The model in particular reflects that airlines typically have market power and are engaged in oligopolistic competition at different sub-markets; that part of external travel delays that aircraft impose are internal to an operator and hence should not be accounted for in congestion tolls. We presented an analytical treatment for a simple bi-nodal symmetric network, which through the use of 'hyper-networks' would be readily applicable to dynamic problems (in discrete time) such as peak - off-peak differences, and some numerical exercises for the same symmetric network, which was only designed to illustrate the possible comparative static impacts of tolling, in addition to marginal equilibrium conditions as could be derived for the general model specification. Some main conclusions are that second-best optimal tolls are typically lower than what would be suggested by congestion costs alone and may even be negative, and that the toll as derived by Brueckner (2002) may not lead to an increase in total welfare. While Brueckner (2002) has made clear that congestion tolls on airports may be smaller than expected when congestion costs among aircraft are internal for a firm, our analysis adds to this that a further downward adjustment may be in order due to market power. The presence of market power (which causes prices to exceed marginal costs) may cause the pure congestion toll to be suboptimal, because the resulting decrease in demand is too high (the pure congestion tall does not take into account the decrease in consumer surplus). The various

  10. Prices versus Quantities

    DEFF Research Database (Denmark)

    Hansen, Lars Gårn; Jensen, Frank

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

  11. Transfer Pricing and FDI

    Directory of Open Access Journals (Sweden)

    Patricia-Sabina Macelaru

    2013-08-01

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

  12. Road pricing with complications

    DEFF Research Database (Denmark)

    Fosgerau, Mogens; Van Dender, Kurt

    2013-01-01

    The rationale for congestion charges is that by internalising the marginal external congestion cost, they restore efficiency in the transport market. In the canonical model underlying this view, congestion is a static phenomenon, users are taken to be homogenous, there is no travel time risk......, and a highly stylised model of congestion is used. The simple analysis also ignores that real pricing schemes are only rough approximations to ideal systems and that inefficiencies in related markets potentially affect the case for congestion charges. The canonical model tends to understate the marginal...... external congestion cost because it ignores user heterogeneity and trip timing inefficiencies. With respect to the relevance of interactions between congestion and congestion charges and tax distortions and distributional concerns, recent insights point out that there is no general case for modifying...

  13. Why fuel prices differ

    International Nuclear Information System (INIS)

    Rietveld, P.; Woudenberg, S. van

    2005-01-01

    Fuel taxes differ largely between countries. This paper reviews a number of considerations from the theory of public finance that may explain these differences. Based on a multiple regression model, we find for tax competition in Europe that small countries tend to be more aggressive than large countries by charging lower fuel taxes to attract customers from neighbouring countries. There is strong evidence that fuel is just considered as one of the many sources for government expenditure: as the share of government expenditure in GDP is higher, the fuel tax tends to be higher. No support is found for the hypothesis that fuel taxes are higher in countries where externality problems are more severe (proxied by car density of the country). In this respect, the normative literature on pricing externalities has found little support in the realities of transport policy. (author)

  14. The Pricing of natural gas

    International Nuclear Information System (INIS)

    Nese, Gjermund

    2004-11-01

    The report focuses on the pricing of natural gas. The motivation has been the wish of the Norwegian authorities to increase the use of natural gas and that this should follow market conditions. The pricing of gas occurs at present in various ways in the different markets. The report identifies to main factors behind the pricing. 1) The type of market i.e. how far the liberalization of the gas markets has gone in the various countries. 2) The development within the regulation, climate and tax policies. The gas markets are undergoing as the energy markets in general, a liberalization process where the traditional monopoly based market structures are replaced by markets based on competition. There are great differences in the liberalization development of the various countries, which is reflected in the various pricing principles applied for the trade of gas in the countries. The analysis shows that the net-back-pricing is predominant in some countries i.e. that the price is in various ways indexed towards and follow the development of the price of alternative energy carriers so that the gas may be able to compete. The development towards trade places for gas where the pricing is based on offer and demand is already underway. As the liberalization of the European gas markets progresses it is expected that the gas price will be determined increasingly at spot markets instead of through bilateral agreements between monopolistic corporations. The development within the regulation, climate and tax policies and to what extent this may influence the gas prices in the future, are also studied. There seem to be effects that may pull in both directions but it is evident that these political variables will influence the gas pricing in the international market to a large extent and thereby also the future internal natural gas market

  15. Pricing effects on food choices.

    Science.gov (United States)

    French, Simone A

    2003-03-01

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

  16. Forms of address in Isizulu

    OpenAIRE

    2014-01-01

    M.A. (African Studies) The study deals with forms of address in isiZulu. Therefore, the various aspects of speech that play roles when addressing a person, the factors affecting forms of address in isiZulu and the effect of languages such as English, Afrikaans and other African languages on the forms of address in isiZulu are of interest. Research was conducted on forms of address in isiZulu in parts of Soweto and it was discovered that form of address are determined by different factors i...

  17. Energy price dispute - companies are confident

    International Nuclear Information System (INIS)

    Marcan, P.; Slovak, P.

    2007-01-01

    Energy prices stipulated for 2003 were not compliant with the valid legislation. The Constitutional Court has repeatedly confirmed this fact. The dispute between several Slovak companies and the state will address the damage caused by illegal actions taken by the public authority, including loss of profit. A group of claimants represented by the Club 500 association is claiming up to 2 bil. Sk (57.97 mil. EUR) as compensation for the mistake made by the Office for Regulation of Network Industries (URSO), including the unclear calculation of the lost profit of companies. It will be up to the courts to decide whether the price deregulation really caused damage to the companies or whether they just took advantage of the faulty legislation.The companies base their claims on a decision of the Constitutional Court. Last year the Court twice announced that the 2003 energy prices were not compliant with valid legislation. At that time, Slovakia lacked a generally binding regulation that should have been in place according to the Act on Regulation of Network Industries. Currently, the role of these missing regulations has been taken over by URSO decrees. These stipulate justified costs and adequate profit of energy suppliers. The regulator had such a decree prepared at the end of 2002, but due to material stipulations and time constraints it did not publish it. (authors)

  18. Obesity and supermarket access: proximity or price?

    Science.gov (United States)

    Drewnowski, Adam; Aggarwal, Anju; Hurvitz, Philip M; Monsivais, Pablo; Moudon, Anne V

    2012-08-01

    We examined whether physical proximity to supermarkets or supermarket price was more strongly associated with obesity risk. The Seattle Obesity Study (SOS) collected and geocoded data on home addresses and food shopping destinations for a representative sample of adult residents of King County, Washington. Supermarkets were stratified into 3 price levels based on average cost of the market basket. Sociodemographic and health data were obtained from a telephone survey. Modified Poisson regression was used to test the associations between obesity and supermarket variables. Only 1 in 7 respondents reported shopping at the nearest supermarket. The risk of obesity was not associated with street network distances between home and the nearest supermarket or the supermarket that SOS participants reported as their primary food source. The type of supermarket, by price, was found to be inversely and significantly associated with obesity rates, even after adjusting for individual-level sociodemographic and lifestyle variables, and proximity measures (adjusted relative risk=0.34; 95% confidence interval=0.19, 0.63) Improving physical access to supermarkets may be one strategy to deal with the obesity epidemic; improving economic access to healthy foods is another.

  19. An analysis of strategic price setting in retail gasoline markets

    Science.gov (United States)

    Jaureguiberry, Florencia

    This dissertation studies price-setting behavior in the retail gasoline industry. The main questions addressed are: How important is a retail station's brand and proximity to competitors when retail stations set price? How do retailers adjust their pricing when they cater to consumers who are less aware of competing options or have less discretion over where they purchase gasoline? These questions are explored in two separate analyses using a unique datasets containing retail pricing behavior of stations in California and in 24 different metropolitan areas. The evidence suggests that brand and location generate local market power for gasoline stations. After controlling for market and station characteristics, the analysis finds a spread of 11 cents per gallon between the highest and the lowest priced retail gasoline brands. The analysis also indicates that when the nearest competitor is located over 2 miles away as opposed to next door, consumers will pay an additional 1 cent per gallon of gasoline. In order to quantify the significance of local market power, data for stations located near major airport rental car locations are utilized. The presumption here is that rental car users are less aware or less sensitive to fueling options near the rental car return location and are to some extent "captured consumers". Retailers located near rental car locations have incentives to adjust their pricing strategies to exploit this. The analysis of pricing near rental car locations indicates that retailers charge prices that are 4 cent per gallon higher than other stations in the same metropolitan area. This analysis is of interest to regulators who are concerned with issues of consolidation, market power, and pricing in the retail gasoline industry. This dissertation concludes with a discussion of the policy implications of the empirical analysis.

  20. A survey of utility experience with real time pricing: implications for policymakers seeking price responsive demand

    International Nuclear Information System (INIS)

    Barbose, Galen; Goldman, Charles; Neenan, Bernard

    2005-01-01

    Economists and policy makers frequently propose real time pricing (RTP) as a strategy for facilitating price responsive demand, thereby improving the performance of electricity markets and regional networks. While theoretically appealing, many practical and empirical issues related to RTP remain unresolved or poorly understood. Over the past two decades, more than 70 utilities in the U.S. have offered voluntary RTP tariffs, on either a pilot or permanent basis. However, most have operated in relative obscurity, and little information has made its way into the public domain. To address this gap, we conducted a conducted a comprehensive review of voluntary RTP programs in the U.S. by surveying 43 U.S. utilities and reviewing regulatory documents, tariffs, program evaluations, and other publicly available sources. Based on this review of RTP program experience, we identify key trends related to utilities' motivations and goals for implementing RTP, evolution of RTP tariff design, program participation, participant price response, and program outlook. Experience with voluntary RTP programs has been mixed. Several utilities have demonstrated that voluntary RTP programs are capable of generating significant load reductions. However, most programs have attracted relatively few participants and therefore have generated quite limited load reductions. About 2700 non-residential customers were enrolled in RTP programs in 2003, representing more than 11 000 MW of load. We then draw from these findings to identify implications for policy makers and regulators that are currently considering RTP as a strategy for facilitating price responsive demand

  1. Price developments in the region. A comparative analysis

    International Nuclear Information System (INIS)

    Gallagher, J.T.

    2002-01-01

    The ERRA Tariff and Pricing Committee has the following tasks: Data collection, research, round-table; Sharing information and potential solutions to common challenges; Highlight key issues, including common objectives, challenges and opportunities; Identify recent trends and developments; Discuss how member countries are addressing those challenges. These last step is discussed in detail. Future tasks and activities are highlighted. (R.P.)

  2. Optimal Infinite Runs in One-Clock Priced Timed Automata

    DEFF Research Database (Denmark)

    David, Alexandre; Ejsing-Duun, Daniel; Fontani, Lisa

    We address the problem of finding an infinite run with the optimal cost-time ratio in a one-clock priced timed automaton and pro- vide an algorithmic solution. Through refinements of the quotient graph obtained by strong time-abstracting bisimulation partitioning, we con- struct a graph with time...

  3. An empirical examination of restructured electricity prices

    International Nuclear Information System (INIS)

    Knittel, C.R.; Roberts, M.R.

    2005-01-01

    We present an empirical analysis of restructured electricity prices. We study the distributional and temporal properties of the price process in a non-parametric framework, after which we parametrically model the price process using several common asset price specifications from the asset-pricing literature, as well as several less conventional models motivated by the peculiarities of electricity prices. The findings reveal several characteristics unique to electricity prices including several deterministic components of the price series at different frequencies. An 'inverse leverage effect' is also found, where positive shocks to the price series result in larger increases in volatility than negative shocks. We find that forecasting performance in dramatically improved when we incorporate features of electricity prices not commonly modelled in other asset prices. Our findings have implications for how empiricists model electricity prices, as well as how theorists specify models of energy pricing. (author)

  4. Housing Price Volatility and Econometrics

    Czech Academy of Sciences Publication Activity Database

    Sunega, Petr; Lux, Martin; Zemčík, Petr

    2014-01-01

    Roč. 1, č. 2 (2014), s. 70-78 ISSN 2336-2839 R&D Projects: GA ČR(CZ) GAP404/12/1446 Institutional support: RVO:68378025 ; RVO:67985998 Keywords : econometrics * housing prices * price bubbles Subject RIV: AO - Sociology, Demography

  5. Market, trading and coal price

    International Nuclear Information System (INIS)

    Muller, J.C.; Cornot-Gandolphe, S.; Labrunie, L.; Lemoine, St.; Vandijck, M.

    2006-01-01

    The coal world experienced a true upheaval in the past five years World coal consumption went up 28 % between 2000 and 2005, as a result of the strong growth in Chinese demand. The growth should continue in the coming years: electrical plant builders' orders are mainly for coal. The regained interest in coal is based on the constraints experienced by competing energies (increase in oil and natural gas prices, geopolitical uncertainties, supply difficulties) and by the abundant reserves of coal in the world and the competitiveness of its price. The strong growth in world coal demand comes with a change in rules governing steam coal trading. While long term bilateral agreements were most common until the late nineties, there has been a true revolution in coal marketing since 2000: spot contracts, stock exchange emergence and futures contracts, price indexes. In a few years, the steam coal market has become a true commodities market, overtaking many more goods. The price of coal has also gone through strong variations since 2003. Whereas the price had been stable for decades, in 2004 the strong increase in China' s demand for coal and iron ore resulting in transport shortage, caused a strong increase in CAF coal prices. Since then, prices have gone down, but remain higher than the Eighties and Nineties levels. In spite of the increase, coal remains available at more competitive prices than its competing energies. (authors)

  6. Behavioral heterogeneity in stock prices

    NARCIS (Netherlands)

    Boswijk, H.P.; Hommes, C.H.; Manzan, S.

    2007-01-01

    We estimate a dynamic asset pricing model characterized by heterogeneous boundedly rational agents. The fundamental value of the risky asset is publicly available to all agents, but they have different beliefs about the persistence of deviations of stock prices from the fundamental benchmark. An

  7. The true Price of Chocolate?

    NARCIS (Netherlands)

    Ingram, V.J.; Chocoloney, T.

    2015-01-01

    Chocolate prices generally do not incorporate many of the environmental and social externalities, costs which are incurred as the main ingredients such as cocoa and sugar move from farms, to factories to consumers. Nor do prices reflect the benefits of non-conventional production and alternative

  8. Is macroeconomic announcement news priced?

    NARCIS (Netherlands)

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

    2016-01-01

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

  9. Price satisfaction and producer loyalty

    DEFF Research Database (Denmark)

    Mutonyi, Sarah; Beukel, Karin; Gyau, Amos

    2016-01-01

    Purpose The purpose of this paper is to investigate which dimensions of price satisfaction influence producers’ trust in buyers and assess the mediating role of such trust in the relationship between price satisfaction and producer loyalty in fresh fruit supply chains. Design/methodology/approach......Purpose The purpose of this paper is to investigate which dimensions of price satisfaction influence producers’ trust in buyers and assess the mediating role of such trust in the relationship between price satisfaction and producer loyalty in fresh fruit supply chains. Design...... reliability, and relative price are dimensions of price satisfaction that affect producers’ trust in the buyer. Moreover, trust between the producer and the buyer is found to be a strong mediator between price satisfaction and producer loyalty. The findings support recent studies about trust and its mediating...... between the multi-dimensional nature of price satisfaction and producer loyalty with trust as a mediating variable in the business-to-business (B2B) context. Although B2B relationships have been shown to be of great importance for smallholders in enhancing business performance with their buyers, little...

  10. Price as indicator for quality?

    DEFF Research Database (Denmark)

    Nielsen, Jørgen Ulff-Møller; Hansen, Jørgen Drud

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

  11. After the oil price collapse

    International Nuclear Information System (INIS)

    Kohl, W.L.

    1991-01-01

    In this book, the authors focus on issues that include the extremely high prices following the second oil shock, the resulting decline in oil demand and the increase in non-OPEC production, reduced industry concentration, OPEC's subsequent attempt to regain market share; and the resulting free-for-all of competitive pricing

  12. Strammere retningslinjer om transfer pricing

    DEFF Research Database (Denmark)

    Rossing, Christian Plesner

    2015-01-01

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

  13. Understanding international commodity price fluctuations

    NARCIS (Netherlands)

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

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

  14. Regime jumps in electricity prices

    NARCIS (Netherlands)

    R. Huisman (Ronald); R.J. Mahieu (Ronald)

    2003-01-01

    textabstractMany countries are liberalizing their energy markets. Participants in these markets are exposed to market risk due to the characteristics of electricity price dynamics. Electricity prices are known to be mean-reverting very volatile and subject to frequent spikes. Models that describe

  15. Oil price and the dollar

    International Nuclear Information System (INIS)

    Coudert, V.; Mignon, V.; Penot, A.

    2007-01-01

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

  16. Option price and market instability

    Science.gov (United States)

    Baaquie, Belal E.; Yu, Miao

    2017-04-01

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

  17. Sociodemographic differences in fast food price sensitivity.

    Science.gov (United States)

    Meyer, Katie A; Guilkey, David K; Ng, Shu Wen; Duffey, Kiyah J; Popkin, Barry M; Kiefe, Catarina I; Steffen, Lyn M; Shikany, James M; Gordon-Larsen, Penny

    2014-03-01

    Fiscal food policies (eg, taxation) are increasingly proposed to improve population-level health, but their impact on health disparities is unknown. To estimate subgroup-specific effects of fast food price changes on fast food consumption and cardiometabolic outcomes. Twenty-year follow-up (5 examinations) in a biracial US prospective cohort: Coronary Artery Risk Development in Young Adults (CARDIA) (1985/1986-2005/2006, baseline N = 5115). Participants were aged 18 to 30 years at baseline; design indicated equal recruitment by race (black vs white), educational attainment, age, and sex. Community-level price data from the Council for Community and Economic Research were temporally and geographically linked to study participants' home address at each examination. Participant-reported number of fast food eating occasions per week, body mass index (BMI), and homeostasis model assessment insulin resistance (HOMA-IR) from fasting glucose and insulin concentrations. Covariates included individual-level and community-level social and demographic factors. In repeated measures regression analysis, multivariable-adjusted associations between fast food price and consumption were nonlinear (quadratic, P fast food consumption frequency of 2.20 (95% CI, 2.07-2.33) and 1.55 (1.45-1.65) times/wk, respectively, whereas at the 90th percentile of price ($1.53/serving), respective mean consumption estimates were 1.86 (1.75-1.97) and 1.50 (1.41-1.59) times/wk. We observed differential price effects on HOMA-IR (inverse for lower educational status only [interaction P = .005] and at middle income only [interaction P = .02]) and BMI (inverse for blacks, less education, and middle income; positive for whites, more education, and high income [all interaction P fast food price sensitivity on fast food consumption and insulin resistance among sociodemographic groups that have a disproportionate burden of chronic disease. Our findings have implications for fiscal policy, particularly with

  18. Is College Pricing Power Pro-Cyclical?

    Science.gov (United States)

    Altringer, Levi; Summers, Jeffrey

    2015-01-01

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

  19. Western Canada : changing pricing dynamics

    International Nuclear Information System (INIS)

    Frank, B.

    1998-01-01

    Natural gas supply and demand trends in Western Canada are reviewed in a series of overhead viewgraphs. Production versus pipeline capacity, required gas well completions in the WCSB to meet local demand and fill export pipeline capacity to year 2005, NYMEX and AECO price trends during 1995-2000, and the question of what will happen to prices with additional pipeline capacity to the U.S. Midwest were summarized. The best guess is that Midwest prices will need to be high enough to attract marginal supplies from the Gulf, i.e. prices have be around the Henry Hub + five cents/ mmbtu. The new Canadian pipelines, (Northern Border and Alliance) will lower Midwest prices somewhat, but the impact will be modest. Assuming that additional planned pipeline expansion come on-stream, the pressure to expand east of Chicago will be considerable. tabs., figs

  20. PRICES - PREREQUISITE OF MARKET DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    VĂDUVA MARIA

    2017-08-01

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

  1. Pricing of temperature index insurance

    Directory of Open Access Journals (Sweden)

    Che Mohd Imran Che Taib

    2012-01-01

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

  2. Ethical aspect price decision making

    Directory of Open Access Journals (Sweden)

    Grubor Aleksandar

    2007-01-01

    Full Text Available Price decision making in a marketing program framework creatings is a complicated and delicated part of marketing management, especially to keep in sight culminating of mass external factors. In a market economies price policy as a marketing mix instrument rarely is regulated by the law, which opening the ethical aspect questions of price decision making process. The ethics in the price decision making means consideration of the inner law of the individual (marketing managers and/or consumers, whose irreverence does not entail any juridical sanctions, rather its application is sanctioned by the self - awareness. The acception and stability of the ethical aspect price decision making are determined by the characteristic of selected marketing environment.

  3. World oil prices, precious metal prices and macroeconomy in Turkey

    International Nuclear Information System (INIS)

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

    2009-01-01

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

  4. Competitive pricing within pharmaceutical classes: evidence on "follow-on" drugs in Germany 1993-2008.

    Science.gov (United States)

    Mueller, Michael T; Frenzel, Alexander

    2015-01-01

    Competition from "follow-on" drugs has been a highly controversial issue. Manufacturers launching new molecules in existing drug classes have often been criticized for inflating health systems' expenses, but it has been argued that such drugs increase therapeutic options. Economic theory suggests that follow-on drugs induce price competition. We contribute to this discussion by addressing the topic of pricing at market entry and price development in the German market. We measure determinants of price strategies of follow-on drugs using regression analyses, considering all new molecules launched in the German market from 1993 to 2008. Prices of products are standardized on defined daily dosages controlling for sales volumes based on data from the IMS Health DPM database and for the therapeutic quality of a new product using ratings by Fricke/Klaus as a proxy for innovation. We identify prices correlating with therapeutic value at market entry. While the first two molecules engage in quality competition, price discounts below the market price can be observed from the third entrant on. Price discounts are even more distinct in development races with several drugs entering the market within 2 years and in classes with a low degree of therapeutic differentiation. Prices remain relatively constant over time. This study contributes to assessments of competition in pharmaceutical markets focusing on price strategies of new market entrants. After an initial phase of market building, further follow-on products induce price competition. Largely unchanged prices after 4 years may be interpreted as quality competition and can be attributed to prices in Germany being anchor points for international price referencing.

  5. 77 FR 13384 - Additional Guidance on Airfare/Air Tour Price Advertisements; Correction

    Science.gov (United States)

    2012-03-06

    ...The Department published a notice entitled ``Additional Guidance on Airfare/Air Tour Price Advertisements,'' in the Federal Register of February 27, 2012; the notice contained an incorrect address for the Department.

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

    OpenAIRE

    Herrmann, Roland; Moeser, Anke

    2005-01-01

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

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

    International Nuclear Information System (INIS)

    Ewing, Bradley T.; Thompson, Mark A.

    2007-01-01

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

  8. Energy prices, equalization and federalism

    Energy Technology Data Exchange (ETDEWEB)

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

    2005-10-01

    A rise in oil prices over the last 30 years has shaped the debate on the equalization formula as well as the nature of fiscal federalism. The oil shocks of 1973 and 1979 contributed to the creation of the National Energy Program (NEP) in 1980 and the Energy Pricing and Taxation Agreement (EPTA) between Ottawa and Alberta in 1981. The current surge in oil prices, to recent highs of $70 a barrel has resulted in a new debate on energy pricing, equalization and fiscal frameworks. This article presented a review of the history of oil and federalism, and proposed a remedy to the horizontal fiscal imbalance by allocating the fixed equalization pool in accordance with fiscal capacity disparities relating to non-resource revenues. An interprovincial revenue-sharing pool was suggested for resource revenues, agreed to and operated by the provinces. It was suggested that after the price spike in 1973 in which the price of oil tripled, a key part of the rationale for imposing export taxes on oil equal to the difference between domestic and world prices was that the federal government could subsidize oil imports into eastern Canada and maintain a uniform domestic price across the country. By continuing to subsidize imports and maintaining a domestic price below the world price, the government has been diverting potential energy revenues from energy-rich provinces and transferring them directly to Canadians in terms of subsidized energy prices. It was noted that energy price surges cannot send equalization payments soaring as they did before because of the 2004 Framework Agreement, in which the overall equalization will be increased to $10.9 billion. A 2-tier approach to equalization was presented, in which it was suggested that the $10.9 billion pool should be allocated with fiscal capacity disparities relating to non-resource revenues. The creation of a revenue sharing pool for resource revenues was recommended. It was suggested that the 2 approaches will result in a strategic

  9. Energy prices, equalization and federalism

    International Nuclear Information System (INIS)

    Courchene, T.J.

    2005-01-01

    A rise in oil prices over the last 30 years has shaped the debate on the equalization formula as well as the nature of fiscal federalism. The oil shocks of 1973 and 1979 contributed to the creation of the National Energy Program (NEP) in 1980 and the Energy Pricing and Taxation Agreement (EPTA) between Ottawa and Alberta in 1981. The current surge in oil prices, to recent highs of $70 a barrel has resulted in a new debate on energy pricing, equalization and fiscal frameworks. This article presented a review of the history of oil and federalism, and proposed a remedy to the horizontal fiscal imbalance by allocating the fixed equalization pool in accordance with fiscal capacity disparities relating to non-resource revenues. An interprovincial revenue-sharing pool was suggested for resource revenues, agreed to and operated by the provinces. It was suggested that after the price spike in 1973 in which the price of oil tripled, a key part of the rationale for imposing export taxes on oil equal to the difference between domestic and world prices was that the federal government could subsidize oil imports into eastern Canada and maintain a uniform domestic price across the country. By continuing to subsidize imports and maintaining a domestic price below the world price, the government has been diverting potential energy revenues from energy-rich provinces and transferring them directly to Canadians in terms of subsidized energy prices. It was noted that energy price surges cannot send equalization payments soaring as they did before because of the 2004 Framework Agreement, in which the overall equalization will be increased to $10.9 billion. A 2-tier approach to equalization was presented, in which it was suggested that the $10.9 billion pool should be allocated with fiscal capacity disparities relating to non-resource revenues. The creation of a revenue sharing pool for resource revenues was recommended. It was suggested that the 2 approaches will result in a strategic

  10. Have oil and gas prices got separated?

    International Nuclear Information System (INIS)

    Erdős, Péter

    2012-01-01

    This paper applies vector error correction models that show that oil and natural gas prices decoupled around 2009. Before 2009, US and UK gas prices had a long-term equilibrium with crude prices to which gas prices always reverted after exogenous shocks. Both US and UK gas prices adjusted to the crude oil price individually, and departure from the equilibrium gas price on one continent resulted in a similar departure on the other. After an exogenous shock, the adjustment between US and UK gas prices took approximately 20 weeks on average, and the convergence was mediated mainly by crude oil with a necessary condition that arbitrage across the Atlantic was possible. After 2009, however, the UK gas price has remained integrated with oil price, but the US gas price decoupled from crude oil price and the European gas price, as the Atlantic arbitrage has halted. The oversupply from shale gas production has not been mitigated by North American export, as there has been no liquefying and export capacity. - Highlights: ► VEC models are applied to investigate the relationship between oil and natural gas prices. ► While natural gas prices in Europe and Asia react to oil price, US gas price decoupled from oil in 2009. ► Since 2009, the US gas price has decoupled from the European and Asian gas prices.

  11. Defense Contract Audit Agency Reviews of Price Proposals

    National Research Council Canada - National Science Library

    1998-01-01

    .... Auditors perform field pricing reviews of contractor price proposals when procurement office information is insufficient to perform the cost or price analysis needed to negotiate contract prices...

  12. The pricing of bank debt guarantees

    NARCIS (Netherlands)

    Arping, S.

    2010-01-01

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

  13. A comprehensive method for exotic option pricing

    OpenAIRE

    Rossella Agliardi

    2010-01-01

    This work illustrates how several new pricing formulas for exotic options can be derived within a Levy framework by employing a unique pricing expression. Many existing pricing formulas of the traditional Gaussian model are obtained as a by-product.

  14. 48 CFR 36.207 - Pricing fixed-price construction contracts.

    Science.gov (United States)

    2010-10-01

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

  15. Natural gas prices

    International Nuclear Information System (INIS)

    Johnson, W.A.

    1990-01-01

    Since the 1970s, many electric utilities and industrial boiler fuel users have invested in dual fuel use capability which has allowed them to choose between natural gas, residual fuel oil, and in some instances, coal as boiler fuels. The immediate reason for this investment was the need for security of supply. Wellhead regulation of natural gas prices had resulted in shortages during the 1970s. Because many industrial users were given lowest priority in pipeline curtailments, these shortages affected most severely boiler fuel consumption of natural gas. In addition, foreign supply disruptions during the 1970s called into question the ready availability of oil. Many boiler fuel users of oil responded by increasing their ability to diversify to other sources of energy. Even though widespread investment in dual fuel use capability by boiler fuel users was initially motivated by a need for security of supply, perhaps the most important consequence of this investment was greater substitutability between natural gas and resid and a more competitive boiler fuel market. By the early 1980s, most boiler fuel users were able to switch from one fuel to another and often did for savings measured in pennies per MMBtu. Boiler fuel consumption became the marginal use of both natural gas and resid, with coal a looming threat on the horizon to both fuels

  16. Dynamic supply chain network design with capacity planning and multi-period pricing

    DEFF Research Database (Denmark)

    Fattahi, Mohammad; Mahootchi, Masoud; Govindan, Kannan

    2015-01-01

    This paper addresses a new problem in designing and planning a multi-echelon and multi-product supply chain network over a multi-period horizon in which customer zones have price-sensitive demands. Based on price-demand relationships, a generic method is presented to obtain price levels...... for products and then, a mixed-integer linear programming model is developed. Due to the problem intractability, a simulated annealing algorithm that uses some developed linear relaxation-based heuristics for capacity planning and pricing is presented. Numerical results demonstrate the significance...

  17. [The French medecine pricing committee].

    Science.gov (United States)

    Giorgi, D

    2017-09-01

    The French medicine pricing committee (CEPS) has to reconcile several major constraints, including optimal patient access to medicines and a good control of expenditures on reimbursable medicines. From 2013 to 2015, drug price decreases and discounts obtained by CEPS contributed more than € 5 billion to the balance of the health insurance accounts. As for price setting, there is a significant drop in the prices of medicines in France once they are registered for reimbursement. France is affected by a limited, but costly, flow of innovative medicines, whose prices are higher than those of previous generations, a reflection of an international gradient to which France is obviously subject, despite prices that remain at the low end of the range in Western Europe. The provision of innovative medicines for all patients who need them has been ensured in France over the last fifteen years at a controlled cost. But with the arrival of new expensive products, a resolute policy of control of expenditures must take over from the fall in prices, and original financing channels will have to be explored. Copyright © 2017 Académie Nationale de Pharmacie. Published by Elsevier Masson SAS. All rights reserved.

  18. Canadian natural gas price forecast

    International Nuclear Information System (INIS)

    Jones, D.

    1998-01-01

    The basic factors that influenced NYMEX gas prices during the winter of 1997/1998 - warm temperatures, low fuel prices, new production in the Gulf of Mexico, and the fact that forecasters had predicted a mild spring due to El Nino - were reviewed. However, it was noted that for the last 18 months the basic factors had less of an impact on market direction because of an increase in Fund and technical trader participation. Overall, gas prices were strong through most of the year. For the winter of 1998-1999 the prediction was that NYMEX gas prices will remain below $2.00 through to the end of October 1998 because of high U.S. storage levels and moderate temperatures. NYMEX gas prices are expected to peak in January 1999 at $3.25. AECO natural gas prices were predicted to decrease in the short term because of increasing levels of Canadian storage, and because of delays in Northern Border pipeline expansions. It was also predicted that AECO prices will peak in January 1999 and will remain relatively strong through the summer of 1999. tabs., figs

  19. Price Sensitivity of Demand for Prescription Drugs

    DEFF Research Database (Denmark)

    Simonsen, Marianne; Skipper, Lars; Skipper, Niels

    2016-01-01

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

  20. How Do Companies Use the Price Strategies

    Institute of Scientific and Technical Information of China (English)

    赵亚男; 赵翠玲

    2011-01-01

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