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Sample records for price reduction act

  1. The Price-Anderson Act

    International Nuclear Information System (INIS)

    Jones, R.

    2000-01-01

    The Price-Anderson Act establishes nuclear liability law in the United States. First passed in 1957, it has influenced other nuclear liability legislation around the world. The insurer response the nuclear accident at Three Mile Island in 1979 demonstrates the application of the Act in a real life situation. The Price-Anderson Act is scheduled to be renewed in 2002, and the future use of commercial nuclear power in tge United States will be influenced by this renewal. (author)

  2. 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.

  3. Under fire: the Price--Anderson Act

    Energy Technology Data Exchange (ETDEWEB)

    Yeany, P R

    1978-07-01

    The Price-Anderson Act, considered by some to be essential to the future of nuclear power plants, was recently ruled unconstitutional by a Federal District Court. If the protection of limited liabilities is removed, private industry could not risk participating in the nuclear power industry. Arguments which led to the court's decision reflected concerns over the release of radioactivity and the loss of property values, the effects of heated wastewater on lakes and rivers, and the threat of an accident. The Court found in favor of the plaintiffs on the legal grounds for the suit and found the Price-Anderson Act to be in violation of both Due Process and Equal Protection Clauses. The Court suggested other schemes for spreading the risk. The Supreme Court later overruled the lower Court's decision. 11 references.

  4. Approximation Preserving Reductions among Item Pricing Problems

    Science.gov (United States)

    Hamane, Ryoso; Itoh, Toshiya; Tomita, Kouhei

    When a store sells items to customers, the store wishes to determine the prices of the items to maximize its profit. Intuitively, if the store sells the items with low (resp. high) prices, the customers buy more (resp. less) items, which provides less profit to the store. So it would be hard for the store to decide the prices of items. Assume that the store has a set V of n items and there is a set E of m customers who wish to buy those items, and also assume that each item i ∈ V has the production cost di and each customer ej ∈ E has the valuation vj on the bundle ej ⊆ V of items. When the store sells an item i ∈ V at the price ri, the profit for the item i is pi = ri - di. The goal of the store is to decide the price of each item to maximize its total profit. We refer to this maximization problem as the item pricing problem. In most of the previous works, the item pricing problem was considered under the assumption that pi ≥ 0 for each i ∈ V, however, Balcan, et al. [In Proc. of WINE, LNCS 4858, 2007] introduced the notion of “loss-leader, ” and showed that the seller can get more total profit in the case that pi < 0 is allowed than in the case that pi < 0 is not allowed. In this paper, we derive approximation preserving reductions among several item pricing problems and show that all of them have algorithms with good approximation ratio.

  5. Price-Anderson Act: Congressional review begins

    International Nuclear Information System (INIS)

    Anon.

    1984-01-01

    Every 10 years Congress reviews, amends, and extends the Price-Anderson Act of 1957, which was designed to encourage the new nuclear industry by guaranteeing insurance beyond the level provided by private insurers. The Nuclear Regulatory Commission is recommending five congressional actions for the 1987 extension: reauthorization, replacement of the absolute insurance limitation with an annual limitation of liability, raising the retrospective premium per reactor per incident from $5 million to $10 million, raising the statute of limitations on claims for 20 to 30 years, and retaining current language dealing with extraordinary events. Two bills, H.R. 421 and H.R. 3277, were introduced with provisions that broaden the opportunity for victims compensation and eliminate the subsidy aspect. Hearings began in July, with reactions from the National Taxpayers Union and Nuclear insurance underwriters in conflict over the limitations on liability. DOE and DOE contractors urge continuation of the Price-Anderson limitation

  6. Price-Anderson Act and nuclear insurance

    International Nuclear Information System (INIS)

    Long, J.D.; Long, D.P.

    1979-01-01

    The nuclear incident at Three Mile Island has served to intensify debate about elimination of the federal limit on liability of utilities (and others) for operation of private nuclear reactions and about elimination of possible federal indemnification of utilities (or others) for claims paid in nuclear incidents. Not all those who debate these issues appear to be fully informed about the present nuclear liability and insurance system. This paper provides a brief description of the Price-Anderson Act, as amended, and of the operation of the nuclear insurance pools. It also includes a comment on the recent federal district court award against the Kerr-McGee Corporation

  7. 48 CFR 52.215-10 - Price Reduction for Defective Certified Cost or Pricing Data.

    Science.gov (United States)

    2010-10-01

    ... Defective Certified Cost or Pricing Data. 52.215-10 Section 52.215-10 Federal Acquisition Regulations System... Text of Provisions and Clauses 52.215-10 Price Reduction for Defective Certified Cost or Pricing Data... or Pricing Data (OCT 2010) (a) If any price, including profit or fee, negotiated in connection with...

  8. Cigarette price minimization strategies in the United States: price reductions and responsiveness to excise taxes.

    Science.gov (United States)

    Pesko, Michael F; Licht, Andrea S; Kruger, Judy M

    2013-11-01

    Because cigarette price minimization strategies can provide substantial price reductions for individuals continuing their usual smoking behaviors following federal and state cigarette excise tax increases, we examined independent price reductions compensating for overlapping strategies. The possible availability of larger independent price reduction opportunities in states with higher cigarette excise taxes is explored. Regression analysis used the 2006-2007 Tobacco Use Supplement of the Current Population Survey (N = 26,826) to explore national and state-level independent price reductions that smokers obtained from purchasing cigarettes (a) by the carton, (b) in a state with a lower average after-tax cigarette price than in the state of residence, and (c) in "some other way," including online or in another country. Price reductions from these strategies are estimated jointly to compensate for known overlapping strategies. Each strategy reduced the price of cigarettes by 64-94 cents per pack. These price reductions are 9%-22% lower than conventionally estimated results not compensating for overlapping strategies. Price reductions vary substantially by state. Following cigarette excise tax increases, the price reduction available from purchasing cigarettes by cartons increased. Additionally, the price reduction from purchasing cigarettes in a state with a lower average after-tax cigarette price is positively associated with state cigarette excise tax rates and border state cigarette excise tax rate differentials. Findings from this large, nationally representative study of cigarette smokers suggest that price reductions are larger in states with higher cigarette excise taxes, and increase as cigarette excise taxes rise.

  9. Managing industrial price risk: a balancing act

    International Nuclear Information System (INIS)

    Muse, J-F.

    2000-01-01

    The challenge of managing industrial price risk is assessed by a senior executive of Cargill, a diversified industrial conglomerate, involved in steel manufacturing and recycling, oilseeds, cocoa, beef, pork, and poultry processing, fertilizer and fruit juice production, in addition to trading and financial risk management. Energy is a key component in many of Cargill's businesses, hence the company has good reason to be concerned about price volatility. The effects of energy risk management on the company's shareholders are demonstrated by an analysis of month-to-month price fluctuations over the Nov 1999 to Oct 2000 period, showing the monthly value of risk at the 95 per cent confidence level as $4,832,195. The effects of alternatives for an end-user such as passing on cost to customers, improving energy efficiency. fuel switching and production curtailment, are explored and limitations and problems with each of the approaches are discussed. The best options for industrial end-users of natural gas are suggested to be a proactive risk management program in the short-term and asset diversification, fuel switching, and geographic relocation of production facilities in the long-term

  10. Insurance and nuclear power: The Price-Anderson act

    International Nuclear Information System (INIS)

    Whipple, C.

    1985-01-01

    This chapter evaluates the Price-Anderson Act, which establishes procedures for insuring nuclear facilities (including nuclear power plants) and was enacted in order to protect the public and to encourage the development of a private nuclear energy industry. Under the Act, the aggregate liability of the reactor operator, the US NRC, or any others who might be at fault (e.g. equipment manufacturers) is limited to $560 million. The reactor operator assumes all public liability, including that of the manufacturers of the plant or its equipment. The Price-Anderson Act has been criticized on the grounds that the limitation on liability removes a significant safety incentive and that the public would not be protected in the event of accident damages exceeding $ million. It is pointed out that under Price-Anderson, the limitation on liability at $560 million is not intended to be absolute

  11. 48 CFR 52.215-11 - Price Reduction for Defective Certified Cost or Pricing Data-Modifications.

    Science.gov (United States)

    2010-10-01

    ... accordingly and the contract shall be modified to reflect the reduction. This right to a price reduction is... 48 Federal Acquisition Regulations System 2 2010-10-01 2010-10-01 false Price Reduction for... CONTRACT CLAUSES Text of Provisions and Clauses 52.215-11 Price Reduction for Defective Certified Cost or...

  12. 48 CFR 52.214-27 - Price Reduction for Defective Certified Cost or Pricing Data-Modifications-Sealed Bidding.

    Science.gov (United States)

    2010-10-01

    ... reduction. This right to a price reduction is limited to that resulting from defects in data relating to... 48 Federal Acquisition Regulations System 2 2010-10-01 2010-10-01 false Price Reduction for... PROVISIONS AND CONTRACT CLAUSES Text of Provisions and Clauses 52.214-27 Price Reduction for Defective...

  13. 48 CFR 1615.407-1 - Rate reduction for defective pricing or defective cost or pricing data.

    Science.gov (United States)

    2010-10-01

    ... defective pricing or defective cost or pricing data. 1615.407-1 Section 1615.407-1 Federal Acquisition... CONTRACTING METHODS AND CONTRACT TYPES CONTRACTING BY NEGOTIATION Contract Pricing 1615.407-1 Rate reduction for defective pricing or defective cost or pricing data. The clause set forth in section 1652.215-70...

  14. Marine Debris Research, Prevention, and Reduction Act

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — The Marine Debris Research, Prevention, and Reduction Act legally establishes the National Oceanic and Atmospheric Administration's (NOAA) Marine Debris Program. The...

  15. Nuclear liability and the Price--Anderson Act

    International Nuclear Information System (INIS)

    Wilson, R.

    1977-01-01

    The Price-Anderson Act is viewed as meeting public needs in a unique and responsible way, reflecting the far-sightedness of those involved in the early development of nuclear power who saw the importance of building safety into each step of the program. An extension of the Act is advised as a first step in recognizing that many potential and real disasters (e.g., dam breaks, floods, etc.) are man-made rather than ''Acts of God''. Rather than abolish the Price-Anderson Act because it is unique, the case is made for extending it to cover these other situations. Provisions of the Act are examined in terms of the role of negligence in nuclear accidents, and the conclusion is reached that public concern for reactor safety should not be affected. Limited assets on the part of insurers and insurance pools have made government involvement important but not a real subsidy because of high premiums. Premiums in the new amendment are paid retroactively when there is an accident, which relieves the problem of anticipating what premiums may be needed in the future. This limits government liability and, combined with the waiver of defenses against liability, offers better protection for the public. Recommendations for allowing tort law to operate above the $560 million Price-Anderson limits are criticized, and a counter proposal is made for reassessing the figure at an appropriate limit and extending insurance to competitive industries

  16. 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...

  17. 48 CFR 1652.215-70 - Rate Reduction for Defective Pricing or Defective Cost or Pricing Data.

    Science.gov (United States)

    2010-10-01

    ... Defective Pricing or Defective Cost or Pricing Data. 1652.215-70 Section 1652.215-70 Federal Acquisition... CLAUSES AND FORMS CONTRACT CLAUSES Texts of FEHBP Clauses 1652.215-70 Rate Reduction for Defective Pricing or Defective Cost or Pricing Data. As prescribed in 1615.407-1, the following clause shall be...

  18. 77 FR 29982 - Federal Acquisition Regulation; Submission for OMB Review; Davis Bacon Act-Price Adjustment...

    Science.gov (United States)

    2012-05-21

    ...; Submission for OMB Review; Davis Bacon Act-Price Adjustment (Actual Method) AGENCY: Department of Defense... previously approved information collection requirement concerning the Davis-Bacon Act price adjustment... Bacon Act-Price Adjustment (Actual Method), by any of the following methods: Regulations.gov : http...

  19. 48 CFR 52.222-44 - Fair Labor Standards Act and Service Contract Act-Price Adjustment.

    Science.gov (United States)

    2010-10-01

    ... and Service Contract Act-Price Adjustment. 52.222-44 Section 52.222-44 Federal Acquisition Regulations... CLAUSES Text of Provisions and Clauses 52.222-44 Fair Labor Standards Act and Service Contract Act—Price... Contract Act—Price Adjustment (SEP 2009) (a) This clause applies to both contracts subject to area...

  20. Unconstitutionality of Section 170 (e) of the price Anderson Act

    International Nuclear Information System (INIS)

    1977-01-01

    Several environmental protection groups in the State of North Carolina have recently contested the conformity with the United States Constitution of Section 170 (e) of the Atomic Energy Act (Price-Anderson Act). The court seized of the question (the United States District Court for the western district of North Carolina, Charlotte Division) held in March 1977 that this Section and the other provisions of the Atomic Energy Act concerning implementation of the $560 million limitation of liability for nuclear damage were unconstitutional and unenforceable insofar as they applied to nuclear incidents occurring inside the United States. The defendants, the former United States Atomic Energy Commission and its then Commissioners as well as the Duke Power Company (the local electricity company) will appeal this decision. The note on case law analyses the arguments retained by the court. (NEA) [fr

  1. Are prices enough? The economics of material demand reduction

    Science.gov (United States)

    Aidt, Toke; Jia, Lili; Low, Hamish

    2017-05-01

    Recent policy proposals to achieve carbon targets have emphasized material demand reduction strategies aimed at achieving material efficiency. We provide a bridge between the way economists and engineers think about efficiency. We use the tools of economics to think about policies directed at material efficiency and to evaluate the role and rationale for such policies. The analysis highlights when prices (or taxes) can be used to induce changes in material use and when taxes may not work. We argue that the role of taxes is limited by concerns about their distributional consequences, by international trade and the lack of international agreement on carbon prices, and by investment failures. This article is part of the themed issue 'Material demand reduction'.

  2. Price-Anderson Act - the third decade. Report to Congress

    International Nuclear Information System (INIS)

    Saltzman, J.

    1983-12-01

    Subsection 170p. of the Atomic Energy Act of 1954, as amended, requires that the Commission submit to the Congress by August 1, 1983, a detailed report on the need for continuation or modification of Section 170 of the Act, the Price-Anderson provisions. The report is divided into four sections with detailed subject reports appended to the main report. Sections I through III include an examination of issues that the Commission was required by statute to study (i.e., condition of the nuclear industry, state of knowledge of nuclear safety, and availability of private insurance), and discussion of other issues of interest and importance to the Congress and to the public. The subjects covered are as follows: (1) overview of the Price-Anderson system; (2) the state of knowledge of nuclear safety; (3) availability of private insurance; (4) conditions of the nuclear industry; (5) causality and proof of damages; (6) limitation of liability and subsidy; and (7) a proposal that would provide for removal of the limitation of liability but with limited annual liability payments. Section IV of the report contains conclusions and recommendations. Section V contains a bibliography

  3. 18 CFR 2.22 - Pricing policy for transmission services provided under the Federal Power Act.

    Science.gov (United States)

    2010-04-01

    ... 18 Conservation of Power and Water Resources 1 2010-04-01 2010-04-01 false Pricing policy for... INTERPRETATIONS Statements of General Policy and Interpretations Under the Federal Power Act § 2.22 Pricing policy... Policy Statement on its pricing policy for transmission services provided under the Federal Power Act...

  4. Oil price reduction impacts on the Iranian economy

    Directory of Open Access Journals (Sweden)

    Abdollah Mahmoodi

    2017-12-01

    Full Text Available economy. In order to simulate this shock, the global trade analysis project (GTAP model with its data done by using. In the new created data aggregation, oil exporting in Iran and the rest of the world countries as economic new regions, ten new economic sectors have been created, among which the oil is introduced as one sector as well as five endowments. The standard economic closure was changed, and decline in world oil price was simulated in model as a policy shock. The results show that oil export revenue and the mineral commodity export earnings will decrease, but other production sectors’ exports will increase. The trade balance of Iran will be affected negatively and strongly. Also, oil and other services production decreased. In the production sectors’ market, the demand for labor, natural resources, and investment decreased dramatically, and the demand for land increased. Using equivalent variation (EV, changes in Iran’s welfare is high negative. Finally, deflation, reduction in value and quantity of GDP and changes in consumption combination from public to private sector are the other economic impacts of reduction in oil price on Iran’s economic. It is suggested that future studies are done using dynamic models and up-to-date data. In addition, policy makers need to rebound internationally and within OPEC to raise oil prices.

  5. Per-pack price reductions available from different cigarette purchasing strategies: United States, 2009-2010.

    Science.gov (United States)

    Pesko, Michael F; Xu, Xin; Tynan, Michael A; Gerzoff, Robert B; Malarcher, Ann M; Pechacek, Terry F

    2014-06-01

    Following cigarette excise tax increases, smokers may use cigarette price minimization strategies to continue their usual cigarette consumption rather than reducing consumption or quitting. This reduces the public health benefits of the tax increase. This paper estimates the price reductions for a wide-range of strategies, compensating for overlapping strategies. We performed regression analysis on the 2009-2010 National Adult Tobacco Survey (N=13,394) to explore price reductions that smokers in the United States obtained from purchasing cigarettes. We examined five cigarette price minimization strategies: 1) purchasing discount brand cigarettes, 2) using price promotions, 3) purchasing cartons, 4) purchasing on Indian reservations, and 5) purchasing online. Price reductions from these strategies were estimated jointly to compensate for overlapping strategies. Each strategy provided price reductions between 26 and 99cents per pack. Combined price reductions were possible. Additionally, price promotions were used with regular brands to obtain larger price reductions than when price promotions were used with generic brands. Smokers can realize large price reductions from price minimization strategies, and there are many strategies available. Policymakers and public health officials should be aware of the extent that these strategies can reduce cigarette prices. Published by Elsevier Inc.

  6. Regulatory restrictions and energy: The impact of the Jones Act on spot gasoline prices

    International Nuclear Information System (INIS)

    Gius, Mark

    2013-01-01

    The purpose of the present study is to estimate the effects of the Jones Act on spot gasoline prices. Although the Jones Act pertains to the domestic shipment of all types of goods, the present study will only focus on gasoline. The present study will use data obtained from the Energy Information Administration in order to determine if the price of gasoline declined during Jones Act waiver periods. Looking at daily prices, the results regarding the effects of the Jones Act on spot gasoline prices are mixed. When using a t-test, the results indicated either that there was no significant difference or that prices were actually higher during the waiver periods. When using a first-order autoregressive model, it was found that prices were lower during the 2005 waiver period but higher during the 2012 waiver. Given these inconclusive results, it is not possible to conclude that the Jones Act restrictions contribute to higher gasoline prices. - Highlights: • I examine the effect of the Jones Act on spot gasoline prices. • I use daily price data over a seven year period. • I find that the results are mixed. • For the Hurricane Katrina waiver, prices fell, but for the Hurricane Sandy waiver, prices rose

  7. What should the Price--Anderson Act accomplish

    International Nuclear Information System (INIS)

    Kane, G.L.

    1977-01-01

    A historical review of the Price-Anderson Act's goals is followed by recommendations for amendments to improve guarantees of public safety. Failures of the original Act are identified as its failure to cover some accident situations appropriately and to provide incentives for promoting public safety. Legislation should correct these problems and be extended to all energy areas. Legislation based on worst-case situations is not found to be meaningful in terms of increasing safety or estimating comprehensive compensation because it relies on invalidated assumptions, which are still useful in safety awareness. Legislation could take the direction of putting 1.5 percent of the reactor cost into a fund, with the vendor and licensee contributing equal parts. When an incident occurs at any reactor, another one percent is put in by every reactor plus a $1 million penalty proportioned among those responsible. The Federal government would cover amounts above the fund, which would have no limit. Compensation to public funds by the industry would be a social decision based on the social and economic impact

  8. Price--Anderson Act: the insurance industry's view

    International Nuclear Information System (INIS)

    Marrone, J.

    1977-01-01

    The insurance industry feels the expense of providing insurance coverage under the Price-Anderson Act is justified because it encouraged development of nuclear power and assured protection for the public in the event of an accident. Insurance pools have been instituted in about 20 countries in order to distribute the risk on a worldwide basis. Changes in the original Act allow an off-site claimant to get compensation with defense waived and provide for the transition of financial responsibility from the public to the private sector. To date the pools have refunded $9.7 of $12.7 million (73 percent) of the premiums to the insured and the remainder has grown into a $45 million fund, which reflects the success of the nuclear industry and the regulatory agencies in establishing a safe record. This record covers 60 power reactors, 50 research and development reactors, waste disposal sites, and about 50 nuclear facilities. With the exception of reactor operators and fuel reprocessors, the insurance is voluntary at premiums ranging from $1000 to $260,000. A total of $600,000 has been paid in claims

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

    International Nuclear Information System (INIS)

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

    2008-01-01

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

  10. Achieving 80% greenhouse gas reduction target in Saudi Arabia under low and medium oil prices

    KAUST Repository

    Alshammari, Yousef Mohammad

    2016-11-10

    COP 21 led to a global agreement to limit the earth\\'s rising temperature to less than 2 °C. This will require countries to act upon climate change and achieve a significant reduction in their greenhouse gas emissions which will play a pivotal role in shaping future energy systems. Saudi Arabia is the World\\'s largest exporter of crude oil, and the 11th largest CO2 emitter. Understanding the Kingdom\\'s role in global greenhouse gas reduction is critical in shaping the future of fossil fuels. Hence, this work presents an optimisation study to understand how Saudi Arabia can meet the CO2 reduction targets to achieve the 80% reduction in the power generation sector. It is found that the implementation of energy efficiency measures is necessary to enable meeting the 80% target, and it would also lower costs of transition to low carbon energy system while maintaining cleaner use of hydrocarbons with CCS. Setting very deep GHG reduction targets may be economically uncompetitive in consideration of the energy supply requirements. In addition, we determine the breakeven price of crude oil needed to make CCS economically viable. Results show important dimension for pricing CO2 and the role of CCS compared with alternative sources of energy.

  11. Reduction of CO2 emissions by influencing fuel prices

    International Nuclear Information System (INIS)

    Keller, M.; Zbinden, R.; Haan, P.; Gruetter, J.; Ott, W.

    2002-01-01

    The CO 2 law stipulates quantitative targets for CO 2 emissions (reductions of 10% by 2010 compared with 1990, 15% for heating fuels, 8% for motor fuels). For motor fuels, it is currently estimated that the target will be missed by about 15%, or 2 to 2.5 million tonnes of CO 2 . In order to reach the targets, therefore, all measures that can be taken to reduce emissions are to be checked out and, where sensible and possible, implemented too. The subject of this study is the preferential treatment of diesel, natural gas, liquefied gas and bio-fuels as far as taxation is concerned, with compensation of tax losses on the petrol side. Also, the possibilities for promoting energy-efficient cars are looked at. The reduction of the price for diesel (at least 25 Swiss cents when compensated for via the petrol price) is considered to be unsuitable for reaching the targets because, in the final analysis, fuel sales - the determining factor for the CO 2 emissions that are charged to Switzerland - will increase instead of decreasing. Also, reservations are expressed from the environmental point of view (increased NO x emissions and, in particular, emissions of particulate matter). The modified measure proposed (fixed difference between the prices for petrol and diesel of 25 Swiss cents, for example) is looked at less critically, because it does actually lead to a reduction of CO 2 , even if only a modest one (approx. 10% of the gap to be bridged). On the environmental side, the same reservations apply. Bonus-malus systems, on the other hand, permit a selective choice of the objects of promotion (efficient and, possibly, low-emission vehicles), avoid the unjust preferential treatment of goods traffic and can be implemented without disturbing international price structures (fuel tourism). A bonus-malus system applied at purchase (e.g. different levels of car taxation) is considered to be more efficient than a differentiation in vehicle (road) tax. The promotion of gas is a

  12. Excessive price reduction and extreme volatility in wind dominant electricity markets; solutions and emerging challenges

    DEFF Research Database (Denmark)

    Farashbashi-Astaneh, Seyed-Mostafa; Chen, Zhe; Mousavi, Omid Alizadeh

    2013-01-01

    High intermittency in the nature of wind power emphasize conceptual revising in the mechanisms of electricity markets with high wind power penetration levels. This paper introduces overmuch price reduction and high price volatility as two adverse consequences in future wind dominant electricity...... is developed. The paper indicates discriminatory pricing approach can be beneficial in high penetration of wind power because it alleviates high price variations and spikiness in one hand and prevents overmuch price reduction in wind dominant electricity markets on the other hand....... markets. While high price volatility imposes elevated risk levels for both electricity suppliers and consumers, excessive price reduction of electricity is a disincentive for investment in new generation capacity and might jeopardizes system adequacy in long term. A comparative study between marginal...

  13. Achieving 80% greenhouse gas reduction target in Saudi Arabia under low and medium oil prices

    International Nuclear Information System (INIS)

    Alshammari, Yousef M.; Sarathy, S. Mani

    2017-01-01

    COP 21 led to a global agreement to limit the earth's rising temperature to less than 2 °C. This will require countries to act upon climate change and achieve a significant reduction in their greenhouse gas emissions which will play a pivotal role in shaping future energy systems. Saudi Arabia is the World's largest exporter of crude oil, and the 11th largest CO_2 emitter. Understanding the Kingdom's role in global greenhouse gas reduction is critical in shaping the future of fossil fuels. Hence, this work presents an optimisation study to understand how Saudi Arabia can meet the CO_2 reduction targets to achieve the 80% reduction in the power generation sector. It is found that the implementation of energy efficiency measures is necessary to enable meeting the 80% target, and it would also lower costs of transition to low carbon energy system while maintaining cleaner use of hydrocarbons with CCS. Setting very deep GHG reduction targets may be economically uncompetitive in consideration of the energy supply requirements. In addition, we determine the breakeven price of crude oil needed to make CCS economically viable. Results show important dimension for pricing CO_2 and the role of CCS compared with alternative sources of energy. - Highlights: • Energy efficiency measures are needed to achieve 80% reduction. • Nuclear appears as an important option to achieve deep cuts in CO_2 by 2050. • Technology improvement can enable using heavy fuel oil with CCS until 2050. • IGCC requires lower net CO_2 footprint in order to be competitive. • Nuclear power causes a sharp increase in the CO_2 avoidance costs.

  14. 48 CFR 52.222-43 - Fair Labor Standards Act and Service Contract Act-Price Adjustment (Multiple Year and Option...

    Science.gov (United States)

    2010-10-01

    ... and Service Contract Act-Price Adjustment (Multiple Year and Option Contracts). 52.222-43 Section 52... Standards Act and Service Contract Act—Price Adjustment (Multiple Year and Option Contracts). As prescribed in 22.1006(c)(1), insert the following clause: Fair Labor Standards Act and Service Contract Act...

  15. Strategies for price reduction of HIV medicines under a monopoly situation in Brazil

    Science.gov (United States)

    Chaves, Gabriela Costa; Hasenclever, Lia; Osorio-de-Castro, Claudia Garcia Serpa; Oliveira, Maria Auxiliadora

    2016-01-01

    ABSTRACT OBJECTIVE To analyze Government strategies for reducing prices of antiretroviral medicines for HIV in Brazil. METHODS Analysis of Ministry of Health purchases of antiretroviral medicines, from 2005 to 2013. Expenditures and costs of the treatment per year were analyzed and compared to international prices of atazanavir. Price reductions were estimated based on the terms of a voluntary license of patent rights and technology transfer in the Partnership for Productive Development Agreement for atazanavir. RESULTS Atazanavir, a patented medicine, represented a significant share of the expenditures on antiretrovirals purchased from the private sector. Prices in Brazil were higher than international references, and no evidence was found of a relationship between purchase volume and price paid by the Ministry of Health. Concerning the latest strategy to reduce prices, involving local production of the 200 mg capsule, the price reduction was greater than the estimated reduction. As for the 300 mg capsule, the amounts paid in the first two years after the Partnership for Productive Development Agreement were close to the estimated values. Prices in nominal values for both dosage forms remained virtually constant between 2011 (the signature of the Partnership for Productive Development Agreement), 2012 and 2013 (after the establishment of the Partnership). CONCLUSIONS Price reduction of medicines is complex in limited-competition environments. The use of a Partnership for Productive Development Agreement as a strategy to increase the capacity of local production and to reduce prices raises issues regarding its effectiveness in reducing prices and to overcome patent barriers. Investments in research and development that can stimulate technological accumulation should be considered by the Government to strengthen its bargaining power to negotiate medicines prices under a monopoly situation. PMID:26759969

  16. Strategies for price reduction of HIV medicines under a monopoly situation in Brazil

    Directory of Open Access Journals (Sweden)

    Gabriela Costa Chaves

    2015-01-01

    Full Text Available ABSTRACT OBJECTIVE To analyze Government strategies for reducing prices of antiretroviral medicines for HIV in Brazil. METHODS Analysis of Ministry of Health purchases of antiretroviral medicines, from 2005 to 2013. Expenditures and costs of the treatment per year were analyzed and compared to international prices of atazanavir. Price reductions were estimated based on the terms of a voluntary license of patent rights and technology transfer in the Partnership for Productive Development Agreement for atazanavir. RESULTS Atazanavir, a patented medicine, represented a significant share of the expenditures on antiretrovirals purchased from the private sector. Prices in Brazil were higher than international references, and no evidence was found of a relationship between purchase volume and price paid by the Ministry of Health. Concerning the latest strategy to reduce prices, involving local production of the 200 mg capsule, the price reduction was greater than the estimated reduction. As for the 300 mg capsule, the amounts paid in the first two years after the Partnership for Productive Development Agreement were close to the estimated values. Prices in nominal values for both dosage forms remained virtually constant between 2011 (the signature of the Partnership for Productive Development Agreement, 2012 and 2013 (after the establishment of the Partnership. CONCLUSIONS Price reduction of medicines is complex in limited-competition environments. The use of a Partnership for Productive Development Agreement as a strategy to increase the capacity of local production and to reduce prices raises issues regarding its effectiveness in reducing prices and to overcome patent barriers. Investments in research and development that can stimulate technological accumulation should be considered by the Government to strengthen its bargaining power to negotiate medicines prices under a monopoly situation.

  17. 75 FR 49411 - Consumer Price Index Adjustments of Oil Pollution Act of 1990 Limits of Liability-Vessels and...

    Science.gov (United States)

    2010-08-13

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

  18. Asymmetric information and list-price reductions in the housing market

    NARCIS (Netherlands)

    de Wit, E.; van der Klaauw, B.

    2013-01-01

    In housing markets with asymmetric information list prices may signal unobserved properties of the house or the seller. Asymmetric information is the starting point for many models for the housing market. In this paper, we estimate the causal effect of list-price reductions on the time houses remain

  19. 48 CFR 538.272 - MAS price reductions.

    Science.gov (United States)

    2010-10-01

    ... maintain during the contract period the negotiated price/discount relationship (and/or term and condition relationship) between the eligible ordering activities and the offeror's customer or category of customers on... customers) that results in a less advantageous relationship between the eligible ordering activities and...

  20. Pricing of alcohol in Canada: A comparison of provincial policies and harm-reduction opportunities.

    Science.gov (United States)

    Giesbrecht, Norman; Wettlaufer, Ashley; Thomas, Gerald; Stockwell, Tim; Thompson, Kara; April, Nicole; Asbridge, Mark; Cukier, Samantha; Mann, Robert; McAllister, Janet; Murie, Andrew; Pauley, Chris; Plamondon, Laurie; Vallance, Kate

    2016-05-01

    Alcohol pricing is an effective prevention policy. This paper compares the 10 Canadian provinces on three research-based alcohol pricing policies-minimum pricing, pricing by alcohol content and maintaining prices relative to inflation. The selection of these three policies was based on systematic reviews and seminal research papers. Provincial data for 2012 were obtained from Statistics Canada and relevant provincial ministries, subsequently sent to provincial authorities for verification, and then scored by team members. All provinces, except for Alberta, have minimum prices for at least one beverage type sold in off-premise outlets. All provinces, except for British Columbia and Quebec, have separate (and higher) minimum pricing for on-premise establishments. Regarding pricing on alcohol content, western and central provinces typically scored higher than provinces in Eastern Canada. Generally, minimum prices were lower than the recommended $1.50 per standard drink for off-premise outlets and $3.00 per standard drink in on-premise venues. Seven of 10 provinces scored 60% or higher compared to the ideal on indexing prices to inflation. Prices for a representative basket of alcohol products in Ontario and Quebec have lagged significantly behind inflation since 2006. While examples of evidence-based alcohol pricing policies can be found in every jurisdiction in Canada, significant inter-provincial variation leaves substantial unrealised potential for further reducing alcohol-related harm and costs. This comparative assessment of alcohol price policies provides clear indications of how individual provinces could adjust their pricing policies and practices to improve public health and safety. [Giesbrecht N, Wettlaufer A, Thomas G, Stockwell T, Thompson K, April N, Asbridge M, Cukier S, Mann R, McAllister J, Murie A, Pauley C, Plamondon L, Vallance K. Pricing of alcohol in Canada: A comparison of provincial policies and harm-reduction opportunities. Drug Alcohol Rev

  1. Per-pack price reductions available from different cigarette purchasing strategies: United States, 2009–2010☆

    Science.gov (United States)

    Pesko, Michael F.; Xu, Xin; Tynan, Michael A.; Gerzoff, Robert B.; Malarcher, Ann M.; Pechacek, Terry F.

    2015-01-01

    Objective Following cigarette excise tax increases, smokers may use cigarette price minimization strategies to continue their usual cigarette consumption rather than reducing consumption or quitting. This reduces the public health benefits of the tax increase. This paper estimates the price reductions for a wide-range of strategies, compensating for overlapping strategies. Method We performed regression analysis on the 2009–2010 National Adult Tobacco Survey (N = 13,394) to explore price reductions that smokers in the United States obtained from purchasing cigarettes. We examined five cigarette price minimization strategies: 1) purchasing discount brand cigarettes, 2) using price promotions, 3) purchasing cartons, 4) purchasing on Indian reservations, and 5) purchasing online. Price reductions from these strategies were estimated jointly to compensate for overlapping strategies. Results Each strategy provided price reductions between 26 and 99 cents per pack. Combined price reductions were possible. Additionally, price promotions were used with regular brands to obtain larger price reductions than when price promotions were used with generic brands. Conclusion Smokers can realize large price reductions from price minimization strategies, and there are many strategies available. Policymakers and public health officials should be aware of the extent that these strategies can reduce cigarette prices. PMID:24594102

  2. U.S. Price - Anderson Act - Prospects for Amendment and Extension

    International Nuclear Information System (INIS)

    Brown, O. F.

    2002-01-01

    In enacting the Price-Anderson Act in 1957, the United States created the world's first national nuclear liability regime. At its inception, the Act provided US$560 million of nuclear hazards liability coverage for power plants and certain other nuclear facilities. Today, the amount is about US$9.5 billion for each of 106 nuclear power plants in the United States, by far the highest monetary coverage of any nuclear liability regime in the world. The Price-Anderson Act's authority for new nuclear power plants has been extended periodically by the U.S. Congress since 1957. The last fifteen-year extension enacted in 1988 will expire on August 1st, unless again renewed. What will expire on that date is the authority to cover new nuclear power plants licensed by the U.S. Nuclear Regulatory Commission. Each existing power plant will continue to be covered for the life of the plant, even if Congress does not reauthorize the Act. Price-Anderson extension bills now have passed both the U.S. House of Representatives in November 2001 and Senate in April 2002. This Price-Anderson Act reauthorization has not been very controversial, and is expected to occur without significant changes in nuclear power plant coverage. However, the House and Senate bills may not be reconciled before August 1st when the Act's authority for new nuclear power plants expires. Given the fact that the events in the United States last September 11th have given rise to concerns about terrorism and nuclear damage coverage, this paper also addresses the fact that the Price-Anderson Act covers acts of terrorism. (author)

  3. Estimating the Value of Price Risk Reduction in Energy Efficiency Investments in Buildings

    Directory of Open Access Journals (Sweden)

    Pekka Tuominen

    2017-10-01

    Full Text Available This paper presents a method for calculating the value of price risk reduction to a consumer that can be achieved with investments in energy efficiency. The value of price risk reduction is discussed to some length in general terms in the literature reviewed but, so far, no methodology for calculating the value has been presented. Here we suggest such a method. The problem of valuating price risk reduction is approached using a variation of the Black–Scholes model by considering a hypothetical financial instrument that a consumer would purchase to insure herself against unexpected price hikes. This hypothetical instrument is then compared with an actual energy efficiency investment that reaches the same level of price risk reduction. To demonstrate the usability of the method, case examples are calculated for typical single-family houses in Finland. The results show that the price risk entailed in household energy consumption can be reduced by a meaningful amount with energy efficiency investments, and that the monetary value of this reduction can be calculated. It is argued that this often-overlooked benefit of energy efficiency investments merits more consideration in future studies.

  4. The Medicaid Rebate: Changes in Oncology Drug Prices After the Affordable Care Act.

    Science.gov (United States)

    Bonakdar Tehrani, Ali; Carroll, Norman V

    2017-08-01

    Prescription drug spending is a significant component of Medicaid total expenditures. The Affordable Care Act (ACA) includes a provision that increases the Medicaid rebate for both brand-name and generic drugs. This study examines the extent to which oncology drug prices changed after the increase in the Medicaid rebate in 2010. A pre-post study design was used to evaluate the correlation between the Medicaid rebate increase and oncology drug prices after 2010 using 2006-2013 State Drug Utilization Data. The results show that the average annual price of top-selling cancer drugs in 2006, adjusted for inflation and secular changes in drug prices, have increased by US$154 and US$235 for branded and competitive brand drugs, respectively, following the 2010 ACA; however, generic oncology drug prices showed no significant changes. The findings from this study indicate that oncology drug prices have increased after the 2010 ACA, and suggest that pharmaceutical companies may have increased their drug prices to offset increases in Medicaid rebates.

  5. 77 FR 6803 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2012-02-09

    ... pregnant during Health Questionnaire/ 750 1 20/60 NHANES 1999-2010. Consent Form. 3. State/local vital...-11CE] Agency Forms Undergoing Paperwork Reduction Act Review The Centers for Disease Control and... about the pregnant women at the time of interview. Having information on their children's birth...

  6. 77 FR 37051 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2012-06-20

    ... Year 1 and Year 2. Informed Consent Form... 4,404 1 2/60 Non-Responder Interview. 792 1 5/60 Kimberly S...] Agency Forms Undergoing Paperwork Reduction Act Review The Centers for Disease Control and Prevention...-minute interview will be conducted with a 10% sample of non-responders (up to 792 individuals). In order...

  7. 75 FR 68360 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2010-11-05

    ...] Agency Forms Undergoing Paperwork Reduction Act Review The Centers for Disease Control and Prevention... screener questionnaire will be used to determine participation eligibility and obtain oral consent. Approximately 7,000 individuals will be approached and screened (through a 2-minute interview) for eligibility...

  8. 75 FR 6671 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2010-02-10

    ... programs implemented a new consent form. This form asked participants for permission for CDC to contact...] Agency Forms Undergoing Paperwork Reduction Act Review The Centers for Disease Control and Prevention... prevention behaviors, CDC will conduct telephone interviews of 425 Matter of Balance program participants six...

  9. 75 FR 24706 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2010-05-05

    ... parent consent 214 1 10/60 form. Child Clinic Visit--Case 107 1 1.5 children packet. Parent Clinic Visit...] Agency Forms Undergoing Paperwork Reduction Act Review The Centers for Disease Control and Prevention...; (4) a telephone interview focusing on pregnancy-related events and early life history (biological...

  10. 76 FR 38654 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2011-07-01

    ... consent for an interview. After the data collection phase, a multidisciplinary case review team (CRT) will... Post-Partum HIV- FIMR/HIV Maternal 300 1 1.5 infected Women. Interview Form. Daniel L. Holcomb, Reports...] Agency Forms Undergoing Paperwork Reduction Act Review The Centers for Disease Control and Prevention...

  11. 77 FR 12594 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2012-03-01

    ... Script. Refusal Questions Form.. 62 1 2/60 Individual Consent Form. 250 1 3/60 Contact Information Form... Screening 92 1 5/60 Survey. Informed Consent........ 50 1 1/60 Interview Questionnaire. 50 1 1 Network Size...-12-12BL] Agency Forms Undergoing Paperwork Reduction Act Review The Agency for Toxic Substances and...

  12. 76 FR 55915 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2011-09-09

    ... type 2 diabetes DPRP Application Form........ 120 1 1 prevention programs. DPRP Evaluation Data... mechanism for recognizing organizations that deliver effective, community-based type 2 diabetes prevention...] Agency Forms Undergoing Paperwork Reduction Act Review The Centers for Disease Control and Prevention...

  13. 76 FR 5377 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2011-01-31

    ... Budget (OMB) in compliance with the Paperwork Reduction Act (44 U.S.C. Chapter 35). To request a copy of... Project Developing a Sexual Consent Norms Instrument--New--National Center for Injury Prevention and... violence prevention strategies are increasingly focusing on promoting positive behavioral norms such as...

  14. 75 FR 37445 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2010-06-29

    ... Budget (OMB) in compliance with the Paperwork Reduction Act (44 U.S.C. Chapter 35). To request a copy of... HIV testing, socio-cultural norms, and perceived behavioral control factors that influence HIV testing... identify variables for a survey that will examine attitudes towards HIV testing, socio-cultural norms, and...

  15. 76 FR 24537 - Paperwork Reduction Act; Proposed Collection; Comment Request

    Science.gov (United States)

    2011-05-02

    ... President, Office of National Drug Control Policy, Drug-Free Communities (DFC) Support Program, 750 17th... OFFICE OF NATIONAL DRUG CONTROL POLICY Paperwork Reduction Act; Proposed Collection; Comment Request AGENCY: Office of National Drug Control Policy. ACTION: 60-Day notice and request for comments...

  16. 75 FR 65489 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2010-10-25

    ... children. The three environmental chemicals, Bisphenol A (BPA), phthalates, and mercury have been selected...] Agency Forms Undergoing Paperwork Reduction Act Review The Centers for Disease Control and Prevention (CDC) publishes a list of information collection requests under review by the Office of Management and...

  17. 77 FR 76045 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2012-12-26

    ... case classification (disease staging system). Recommendations for revisions in the case definition were... DEPARTMENT OF HEALTH AND HUMAN SERVICES Centers for Disease Control and Prevention [30Day-13-0573] Agency Forms Undergoing Paperwork Reduction Act Review The Centers for Disease Control and Prevention...

  18. 78 FR 9699 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2013-02-11

    ... Budget (OMB) in compliance with the Paperwork Reduction Act (44 U.S.C. Chapter 35). To request a copy of... Officer, Office of Management and Budget, Washington, DC 20503 or by fax to (202) 395-5806. Written... through advertisements in laboratory trade publications, at professional meetings, and possibly through...

  19. 75 FR 25859 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2010-05-10

    ... drinking water will also be examined: Parkinson's disease, kidney failure and other severe kidney diseases... Budget (OMB) in compliance with the Paperwork Reduction Act (44 U.S.C. Chapter 35). To request a copy of... comparison group. As required by law, health surveys will also be mailed to those who registered with the...

  20. 77 FR 40363 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2012-07-09

    ... Methicillin-resistant Staphylococcus aureus (MRSA) among Patients Recently Discharged from Acute Care... DEPARTMENT OF HEALTH AND HUMAN SERVICES Centers for Disease Control and Prevention [30-Day-12-12II] Agency Forms Undergoing Paperwork Reduction Act Review The Centers for Disease Control and Prevention...

  1. 78 FR 40151 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2013-07-03

    ... resistant Staphylococcus aureus ABCs Case Report Form. ABCs Invasive Pneumococcal 10 41 10/60 Disease in... DEPARTMENT OF HEALTH AND HUMAN SERVICES Centers for Disease Control and Prevention [30-Day 13-13DB] Agency Forms Undergoing Paperwork Reduction Act Review The Centers for Disease Control and Prevention...

  2. 75 FR 20601 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2010-04-20

    .... Proposed Project Asthma Information Reporting System (AIRS)--New--Air Pollution and Respiratory Health... DEPARTMENT OF HEALTH AND HUMAN SERVICES Centers for Disease Control and Prevention [30Day-10-09CK] Agency Forms Undergoing Paperwork Reduction Act Review The Centers for Disease Control and prevention...

  3. 78 FR 24422 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2013-04-25

    ... System (AIRS) (0920-0853, Expiration 06/30/2013)--Extension--Air Pollution and Respiratory Health Branch... DEPARTMENT OF HEALTH AND HUMAN SERVICES Centers for Disease Control and Prevention [30Day-13-0853] Agency Forms Undergoing Paperwork Reduction Act Review The Centers for Disease Control and Prevention...

  4. State Approaches to Demand Reduction Induced Price Effects: Examining How Energy Efficiency Can Lower Prices for All

    Energy Technology Data Exchange (ETDEWEB)

    Taylor, Colin [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Hedman, Bruce [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Goldberg, Amelie [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)

    2015-12-01

    Effects (DRIPE) as a real, quantifiable benefit of energy efficiency and demand response programs. DRIPE is a measurement of the value of demand reductions in terms of the decrease in wholesale energy prices, resulting in lower total expenditures on electricity or natural gas across a given grid. Crucially for policymakers and consumer advocates, DRIPE savings accrue not only to the subset of customers who consume less, but to all consumers. Rate-paying customers realize DRIPE savings when price reductions across an electricity or natural gas system are passed on to all retail customers as lower rates (depending upon regulation and market structure, residual savings may be wholly or partially retained by utilities). DRIPE savings, though seemingly small in terms of percent price reductions or dollars per household, can amount to hundreds of millions of dollars per year across entire states or grids. Therefore, accurately assessing DRIPE benefits can help to ensure appropriate programs are designed and implemented for energy efficiency measures. This paper reviews the existing knowledge and experience from select U.S. states regarding DRIPE (including New York and Ohio), and the potential for expanded application of the concept of DRIPE by regulators. Policymakers and public utility commissions have a critical role to play in setting the methodology for determining DRIPE, encouraging its capture by utilities, and allocating DRIPE benefits among utilities, various groups of customers, and/or society at large. While the methodologies for estimating DRIPE benefits are still being perfected, policymakers can follow the examples of states such as Maryland and Vermont in including conservative DRIPE estimates in their resource planning.

  5. Nicotine reduction as an increase in the unit price of cigarettes: a behavioral economics approach.

    Science.gov (United States)

    Smith, Tracy T; Sved, Alan F; Hatsukami, Dorothy K; Donny, Eric C

    2014-11-01

    Urgent action is needed to reduce the harm caused by smoking. Product standards that reduce the addictiveness of cigarettes are now possible both in the U.S. and in countries party to the Framework Convention on Tobacco Control. Specifically, standards that required substantially reduced nicotine content in cigarettes could enable cessation in smokers and prevent future smoking among current non-smokers. Behavioral economics uses principles from the field of microeconomics to characterize how consumption of a reinforcer changes as a function of the unit price of that reinforcer (unit price=cost/reinforcer magnitude). A nicotine reduction policy might be considered an increase in the unit price of nicotine because smokers are paying more per unit of nicotine. This perspective allows principles from behavioral economics to be applied to nicotine reduction research questions, including how nicotine consumption, smoking behavior, use of other tobacco products, and use of other drugs of abuse are likely to be affected. This paper reviews the utility of this approach and evaluates the notion that a reduction in nicotine content is equivalent to a reduction in the reinforcement value of smoking-an assumption made by the unit price approach. Copyright © 2014 Elsevier Inc. All rights reserved.

  6. The United States nuclear liability regime under the Price-Anderson Act

    International Nuclear Information System (INIS)

    Brown, O. F.

    2011-01-01

    The 1958 U. S. Price-Anderson Act created the worlds first national nuclear liability regime. It now provides US $12,6 Billion of nuclear liability coverage for the 104 nuclear power plants in the United States, by far the highest monetary coverage of any nuclear liability regime in the world. Each power plant operator provides nuclear hazards coverage for anyone liable through a combination of private insurance from the American nuclear insurance pool (now US$ 375 million) and a retrospective assessment (now US$111,9 million per power plant per incident plus 5 percent for claims and costs). The United States in 2008 ratified the International Atomic Energy Agency's Convention on Supplementary Compensation for Nuclear Damage (CSC). and is promoting it as the basis for a more global nuclear liability regime uniting States that are party to the Vienna Convention or the Paris Convention, or have a domestic law consistent with the CSC Annex. The CSC Annex was written to grad father the Price-Anderson Acts economic channeling of liability to the installation operator. The omnibus feature of Price-Anderson is similar to the legal channeling of all liability to the installation operator under the international nuclear liability conventions and domestic laws of many other countries. The Price-Anderson system (like the Vienna and Paris Conventions) does not provide liability coverage for nuclear damage to or loss of use of on-site property. (Author)

  7. Impacts of the Federal Energy Acts and Other Influences on Prices of Agricultural Commodities and Food

    OpenAIRE

    Ferris, John N.

    2013-01-01

    Most of the increase in ethanol production in the 2008-2012 period can be attributed to the Energy Independence and Security Act of 2007 (EISA) and earlier federal energy legislation. The expansion in U.S. biofuel production, particularly ethanol, was the predominant cause of the elevated commodity prices. Other influences documented were a weak dollar, speculation and an increasingly inelastic commodity demand function. The supply function displayed more elasticity as crop farmers responded ...

  8. Impact of International Oil Price on Energy Conservation and Emission Reduction in China

    Directory of Open Access Journals (Sweden)

    Jian Chai

    2016-05-01

    Full Text Available In the context of “new normal” economy and frequent “haze”, the strategy of energy conservation and emission reduction aiming to lower costs and reduce pollution is currently still a major strategic direction in China and the world, and will remain so for some time in the future. This paper uses the annual data of West Texas Intermediate (WTI crude oil price in 1987–2014 as samples. We firstly present the direction and mechanism of the influence of oil price change on total consumption of every kind of energy by path analysis, and then consider establishing a Structural Vector Autoregression model of energy conservation and emission reduction in three statuses. Research shows that if the international oil price increases by 1%, the energy consumption per GDP and carbon dioxide emission increase by 0.092% and 0.053% respectively in the corresponding period. In the status of high energy consumption and high emission, if the international oil price increases by 1%, the energy consumption per GDP and carbon dioxide emission increase by 0.043% and 0.065% respectively in the corresponding period. In the status of low energy consumption and low emission, if the international oil price increases by 1%, the energy consumption per GDP per unit increases by 0.067% and carbon dioxide emission decreases by 0.085% in the corresponding period.

  9. 75 FR 750 - Consumer Price Index Adjustments of Oil Pollution Act of 1990 Limits of Liability-Vessels and...

    Science.gov (United States)

    2010-01-06

    ... historical record of annual changes in the CPI-U (the Consumer Price Index--All Urban Consumers, Not...-AB25 Consumer Price Index Adjustments of Oil Pollution Act of 1990 Limits of Liability--Vessels and... final rule, without change, an interim rule published on July 1, 2009. The interim rule increased the...

  10. Reduction potential, shadow prices, and pollution costs of agricultural pollutants in China.

    Science.gov (United States)

    Tang, Kai; Gong, Chengzhu; Wang, Dong

    2016-01-15

    This paper analyses the reduction potential, shadow prices, and pollution costs of agricultural pollutants in China based on provincial panel data for 2001-2010. Using a parameterized quadratic form for the directional output distance function, we find that if agricultural sectors in all provinces were to produce on the production frontier, China could potentially reduce agricultural emissions of chemical oxygen demand (COD), total nitrogen (TN), and total phosphorus (TP) by 16.0%, 16.2%, and 20.4%, respectively. Additionally, our results show that the shadow price of TN increased rapidly and continuously, while that of COD and TP fluctuated for the whole period. For the whole country, the average shadow price of COD, TN, and TP are 8266 Yuan/tonne, 25,560 Yuan/tonne, and 10,160 Yuan/tonne, respectively. The regional shadow prices of agricultural pollutants are unbalanced. Furthermore, we show that the pollution costs from emissions of COD, TN, and TP are 6.09% of the annual gross output value of the agricultural sector and are highest in the Western and lowest in the Eastern provinces. Our estimates suggest that there is scope for further pollution abatement and simultaneous output expansion for China's agriculture if farmers promote greater efficiency in their production process. Policymakers are required to dynamically adjust the pollution tax rates and ascertain the initial permit price in an emission trading system. Policymakers should also consider the different pollution costs for each province when making the reduction allocations within the agricultural sector. Copyright © 2015 Elsevier B.V. All rights reserved.

  11. Ordering Cost Reduction in Inventory Model with Defective Items and Backorder Price Discount

    Directory of Open Access Journals (Sweden)

    Karuppuchamy Annadurai

    2014-01-01

    Full Text Available In the real market, as unsatisfied demands occur, the longer the length of lead time is, the smaller the proportion of backorder would be. In order to make up for the inconvenience and even the losses of royal and patient customers, the supplier may offer a backorder price discount to secure orders during the shortage period. Also, ordering policies determined by conventional inventory models may be inappropriate for the situation in which an arrival lot contains some defective items. To compensate for the inconvenience of backordering and to secure orders, the supplier may offer a price discount on the stockout item. The purpose of this study is to explore a coordinated inventory model including defective arrivals by allowing the backorder price discount and ordering cost as decision variables. There are two inventory models proposed in this paper, one with normally distributed demand and another with distribution free demand. A computer code using the software Matlab 7.0 is developed to find the optimal solution and present numerical examples to illustrate the models. The results in the numerical examples indicate that the savings of the total cost are realized through ordering cost reduction and backorder price discount.

  12. Aggregate modeling of fast-acting demand response and control under real-time pricing

    International Nuclear Information System (INIS)

    Chassin, David P.; Rondeau, Daniel

    2016-01-01

    Highlights: • Demand elasticity for fast-acting demand response load under real-time pricing. • Validated first-principles logistic demand curve matches random utility model. • Logistic demand curve suitable for diversified aggregate loads market-based transactive control systems. - Abstract: This paper develops and assesses the performance of a short-term demand response (DR) model for utility load control with applications to resource planning and control design. Long term response models tend to underestimate short-term demand response when induced by prices. This has two important consequences. First, planning studies tend to undervalue DR and often overlook its benefits in utility demand management program development. Second, when DR is not overlooked, the open-loop DR control gain estimate may be too low. This can result in overuse of load resources, control instability and excessive price volatility. Our objective is therefore to develop a more accurate and better performing short-term demand response model. We construct the model from first principles about the nature of thermostatic load control and show that the resulting formulation corresponds exactly to the Random Utility Model employed in economics to study consumer choice. The model is tested against empirical data collected from field demonstration projects and is shown to perform better than alternative models commonly used to forecast demand in normal operating conditions. The results suggest that (1) existing utility tariffs appear to be inadequate to incentivize demand response, particularly in the presence of high renewables, and (2) existing load control systems run the risk of becoming unstable if utilities close the loop on real-time prices.

  13. 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

  14. Price-Anderson Act Amendments Act of 1986. A report submitted to the Senate, Ninety-Ninth Congress, Second Session, May 21, 1986

    International Nuclear Information System (INIS)

    Anon.

    1986-01-01

    The report on proposed legislation (S. 1225) to amend the Price-Anderson Act provisions of the Atomic Energy Act to extend and improve the procedures for compensating the public in the event of a nuclear accident is favorable, but suggest some changes. The bill reauthorizes the Price-Anderson indemnification system for 25 years, increases funds available for victim compensation, and expedites congressional procedures for responding with additional action as needed in the event of the theft or an accident involving nuclear materials. The report outlines the background and need for the legislation, gives a section-by-section analysis, and presents additional views and statements of committee members

  15. Financial protection against nuclear hazards: thirty years' experience under the Price-Anderson Act

    International Nuclear Information System (INIS)

    Anon.

    1984-01-01

    Supplementing earlier reports on ways to provide financial protection against the potential hazards involved in the production of nuclear energy by analyzing the issues raised in the Silkwood v. Kerr-McGee Corporation decision, the author explores the impact of the case on the availability of funds to compensate the public and any increased exposure of the nuclear industry or the federal government to public liability. She concludes that the decision will have a significant impact on the day-to-day administration of claims, and could lead to higher premiums. The court would have to determine the priority given to claims in the event of a catastrophic accident, in which case the only significant impact would be under amendments to the Price-Anderson Act which resulted in elimination of its coverage or a substantial increase in or elimination of the limitation on liability

  16. Price--Anderson Act: an imaginative approach to public liability concerns

    International Nuclear Information System (INIS)

    Lowenstein, R.

    1977-01-01

    Opposition to the Price-Anderson Indemnity Law is felt to be motivated by opposition to new nuclear power plant construction rather than against the insurance industry. Those who oppose nuclear power plants view them as an alternative rather than the additional source of energy needed to meet demand. The Act's historical background is reviewed, leading up to the insurance industry's conclusion that lack of actuarial statistics would prevent it from providing adequate insurance for potential liability claims. The 1957 Act was intended to provide public compensation in the event of an accident and to limit the liability of private industry. Several modifications were enacted over the years to close gaps in the original law and extend protection to new developments. Amendments were passed in 1975 that extend coverage to August 1, 1987, allow industry-financed indemnity to be substituted for government indemnity beyond the insurance available, and increase the limit of liability. Critics contend that (1) although the government has yet to pay out any claims, government indemnity amounts to a subsidy; (2) limits on liability are not reasonable if reactors are safe and licensable; and (3) liability coverage is a disincentive for reactor safety measures. These criticisms are not felt to be valid, however, and the amended bill's provisions are listed and found to be adequate

  17. 75 FR 65355 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2010-10-22

    ... involving media, access, price, point of purchase decision, and support services (MAPPS). These approaches... modify the environmental determinants of risk factors for chronic diseases, prevent or delay chronic... collect information from a subset of CPPW States and communities to gain insight into the factors that...

  18. The importance of marginal cost electricity pricing to the success of greenhouse gas reduction programs

    International Nuclear Information System (INIS)

    Friedman, Lee S.

    2011-01-01

    The efficient reduction of GHG emissions requires appropriate retail pricing of off-peak electricity. However, off-peak electricity for residential consumers is priced at 331% above its marginal cost in the United States as a whole (June 2009). Even for the 1% of residences that are on some form of time-of-use (TOU) rate schedule, the off-peak rate is almost three times higher than the marginal cost. A barrier to marginal-cost based TOU rates is that less than 9% of U.S. households have the 'smart' meters in place that can measure and record the time of consumption. Policies should be put in place to achieve full deployment. Another important barrier is consumer concern about TOU rate design. Two TOU rate designs (baseline and two-part tariff) are described that utilize marginal-cost based rates, ensure appropriate cost recovery, and minimize bill changes from current rate structures. A final barrier is to get residences on to these rates. Should a marginal-cost based TOU rate design remain an alternative for which residences could 'opt-in,' or become the default choice, or become mandatory? Time-invariant rates are a historical anachronism that subsidize very costly peak-period consumption and penalize off-peak usage to our environmental detriment. They should be phased out. - Highlights: → Off-peak electricity for residences is priced at 331% above marginal cost in the US. → This inefficiently deters vehicle electrification that could reduce GHG emissions. → 9% of U.S. households have the 'smart' meters necessary for time-of-use rates. → Time-invariant rates cause substantial environmental harm and should be phased out.

  19. The constitutional protection of trade secrets and patents under the Biologics Price Competition and Innovation Act of 2009.

    Science.gov (United States)

    Epstein, Richard A

    2011-01-01

    The Biologics Price Competition and Innovation Act of 2009 ("Biosimilars Act") is for the field of pharmaceutical products the single most important legislative development since passage of the Drug Price Competition and Patent Term Restoration Act of 1984 ("Hatch-Waxman Act"), on which portions of the Biosimilars Act are clearly patterned. Congress revised section 351 of the Public Health Service Act (PHSA) to create a pathway for FDA approval of "biosimilar" biological products. Each biosimilar applicant is required to cite in its application a "reference product" that was approved on the basis of a full application containing testing data and manufacturing information, which is owned and was submitted by another company and much of which constitutes trade secret information subject to constitutional protection. Because the Biosimilars Act authorizes biosimilar applicants to cite these previously approved applications, the implementation of the new legislative scheme raises critical issues under the Fifth Amendment of the Constitution, pursuant to which private property--trade secrets included--may not be taken for public use, without "just compensation." FDA must confront those issues as it implements the scheme set out in the Biosimilars Act. This article will discuss these issues, after providing a brief overview of the Biosimilars Act and a more detailed examination of the law of trade secrets.

  20. 75 FR 76472 - Biologics Price Competition and Innovation Act of 2009; Meetings on User Fee Program for...

    Science.gov (United States)

    2010-12-08

    ... DEPARTMENT OF HEALTH AND HUMAN SERVICES Food and Drug Administration [Docket No. FDA-2010-N-0602] Biologics Price Competition and Innovation Act of 2009; Meetings on User Fee Program for Biosimilar and Interchangeable Biological Product Applications; Request for Notification of Stakeholder Intention To Participate...

  1. Does renewable energies’ usage act as a shield against oil price changes?

    OpenAIRE

    Cardoso, Duarte Cortez dos Santos Vaz

    2014-01-01

    The purpose of this dissertation is to contribute to the existing literature on equity markets and energy prices by studying the impact of oil price changes on several American and European companies, taking into consideration their level of renewable energies’ usage within the total energy consumption. The results show that in fact there is an overall negative impact of oil price changes. However, when we split the oil price changes in positive and negative ones, it seems that their impact i...

  2. 77 FR 49797 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2012-08-17

    ... social marketing campaigns under the umbrella of the larger Act Against AIDS campaign. The target... Project Formative Research for the Development of CDC's Act Against AIDS Social Marketing Campaigns... period to develop various social marketing campaigns aimed at increasing HIV testing rates, increasing...

  3. Benefits from Liberalisation. Update to EURELECTRIC-KEMA report confirms price reductions for customers

    International Nuclear Information System (INIS)

    2007-07-01

    EURELECTRIC believes it important to consider facts and figures when discussing electricity prices. Electricity markets have delivered - and still deliver - lower prices since the beginning of the liberalisation process for a majority of customer categories. A report drawn up by KEMA on behalf of EURELECTRIC in November 2005 ('Review of European Electricity Prices') looked at price evolution from a European perspective. The figures included in this update are based on that report, updated by KEMA for the years 2005 and 2006. It is important to note that all data on electricity prices used are based on official Eurostat data

  4. 75 FR 17410 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2010-04-06

    ... for Occupational Safety and Health (NIOSH), Centers for Disease Control and Prevention (CDC). [[Page... Health Act, the National Institute for Occupational Safety and Health (NIOSH) has been at the forefront..., NIOSH employs engineers and scientists with experience and expertise in mine safety and health issues...

  5. 75 FR 70929 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2010-11-19

    ... national anti-terrorism policies and assigned specific missions to federal departments and agencies. The... respond to acts of biological, chemical, or radiological terrorism and other public health emergencies... equipment inventories. The collection of personal identifiable information for the purpose of communication...

  6. 77 FR 70781 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2012-11-27

    ... comments should be received within 30 days of this notice. Proposed Project Workplace Violence Prevention... prevention programs. However, little is understood about how effective these laws are in reducing violence... facility compliance with the New Jersey Violence Prevention in Health Care Facilities Act, (2) to evaluate...

  7. 77 FR 51807 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2012-08-27

    ... Cervical Cancer Mortality Prevention Act of 1990. Screening services include clinical breast examinations... Minimum Data Elements (MDEs) for the National Breast and Cervical Cancer Early Detection Program (NBCCEDP... screening and early detection tests for breast and cervical cancer. Mammography is extremely valuable as an...

  8. 76 FR 70729 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2011-11-15

    ... each of the four grantees. The surveys will capture information from the program's target audience to... Evaluation of Enhanced Implementation of the ``Learn the Signs. Act Early.'' Campaign in 4 Target Sites,--New... effectively reaching the target populations. The evaluation will be accomplished by a pre-implementation...

  9. 78 FR 14554 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2013-03-06

    ... will focus on specific subpopulations at greatest risk for HIV infection. The target audiences will... Project Formative Research for the Development of CDC's Act Against AIDS Social Marketing Campaigns... period to develop various social marketing campaigns aimed at increasing HIV testing rates, increasing...

  10. 76 FR 23818 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2011-04-28

    ... Project Evaluating Act Against AIDS Social Marketing Campaign Phases Targeting Consumers--New--National... concurrently. Each phase of the campaign will use mass media and direct-to-consumer channels to deliver HIV... effectiveness of these social marketing messages aimed at increasing HIV awareness and delivering HIV prevention...

  11. 78 FR 35635 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2013-06-13

    ... the cognitive demands that affect a miner's ability to do his or her job. To be consistent with... Systems Integration Needs in Mining--New--National Institute for Occupational Safety and Health (NIOSH... 91-173 as amended by Public Law 95-164 (Federal Mine Safety and Health Act of 1977), and Public Law...

  12. 78 FR 307 - Agency Forms Undergoing Paperwork Reduction Act Review

    Science.gov (United States)

    2013-01-03

    ... (CDC) publishes a list of information collection requests under review by the Office of Management and.../AIDS Strategic Plan. (3) reporting has been changed from quarterly to semiannual. (4) the number of... how these efforts have contributed to a reduction in HIV transmission; (2) improve ease of reporting...

  13. Sensitivity of district heating system operation to heat demand reductions and electricity price variations: A Swedish example

    International Nuclear Information System (INIS)

    Åberg, M.; Widén, J.; Henning, D.

    2012-01-01

    In the future, district heating companies in Sweden must adapt to energy efficiency measures in buildings and variable fuel and electricity prices. Swedish district heating demands are expected to decrease by 1–2% per year and electricity price variations seem to be more unpredictable in the future. A cost-optimisation model of a Swedish local district heating system is constructed using the optimisation modelling tool MODEST. A scenario for heat demand changes due to increased energy efficiency in buildings, combined with the addition of new buildings, is studied along with a sensitivity analysis for electricity price variations. Despite fears that heat demand reductions will decrease co-generation of clean electricity and cause increased global emissions, the results show that anticipated heat demand changes do not increase the studied system's primary energy use or global CO 2 emissions. The results further indicate that the heat production plants and the fuels used within the system have crucial importance for the environmental impact of district heat use. Results also show that low seasonal variations in electricity price levels with relatively low winter prices promote the use of electric heat pumps. High winter prices on the other hand promote co-generation of heat and electricity in CHP plants. -- Highlights: ► A MODEST optimisation model of the Uppsala district heating system is built. ► The impact of heat demand change on heat and electricity production is examined. ► An electricity price level sensitivity analysis for district heating is performed. ► Heat demand changes do not increase the primary energy use or global CO 2 emissions. ► Low winter prices promote use of electric heat pumps for district heating production.

  14. Focal point pricing: A challenge to the successful implementation of Section 10a (introduced by the Competition Amendment Act

    Directory of Open Access Journals (Sweden)

    Mike Holland

    2015-08-01

    Full Text Available The Competition Amendment Act introduced section 10A, which provides the Competition Commission with the powers to investigate complex monopoly conduct in a market and allows the Competition Tribunal, under certain conditions, to prohibit such behaviour. Although more than five years have elapsed since the Competition Amendment Act was promulgated, this provision has yet to come into force. However, when it eventually does so, it will mark a significant change in South African competition law, as it seeks to regulate firms’ consciously parallel conduct. This is coordinated conduct that occurs without communication or agreement, but results in the prevention or substantial lessening of competition. Examples of horizontal tacit coordination practices include price leadership and facilitating practices, such as information exchanges and price signaling. The successful implementation of the amendment poses problems for the competition authorities in assessing the competitive effects of complex monopoly conduct and in providing effective remedies. Oligopoly markets result in mutual interdependent decision-making by firms, which can lead to market outcomes similar to explicit collusion. However, a further and little noticed issue is that firms in oligopolistic markets have opportunities to use focal points to determine coordinated strategies. This paper explores the nature and role of focal point pricing, which can lead to prices that are above competitive levels. The South African banking industry is used as an example. We find that focal point pricing is difficult to control, making the successful implementation of section 10A even more problematic. Moreover, the proposed amendment provides scope for the imposition of structural remedies by the Competition Tribunal, a function that the Competition Tribunal is ill-suited to perform.

  15. 46 CFR 147.8 - OMB control numbers assigned pursuant to the Paperwork Reduction Act.

    Science.gov (United States)

    2010-10-01

    ...) DANGEROUS CARGOES HAZARDOUS SHIPS' STORES General Provisions § 147.8 OMB control numbers assigned pursuant... Management and Budget (OMB) pursuant to the Paperwork Reduction Act of 1980 (44 U.S.C. 3501 et seq.). The...

  16. Residential, Commercial, and Utility-Scale Photovoltaic (PV) System Prices in the United States: Current Drivers and Cost-Reduction Opportunities

    Energy Technology Data Exchange (ETDEWEB)

    Goodrich, A.; James, T.; Woodhouse, M.

    2012-02-01

    The price of photovoltaic (PV) systems in the United States (i.e., the cost to the system owner) has dropped precipitously in recent years, led by substantial reductions in global PV module prices. However, system cost reductions are not necessarily realized or realized in a timely manner by many customers. Many reasons exist for the apparent disconnects between installation costs, component prices, and system prices; most notable is the impact of fair market value considerations on system prices. To guide policy and research and development strategy decisions, it is necessary to develop a granular perspective on the factors that underlie PV system prices and to eliminate subjective pricing parameters. This report's analysis of the overnight capital costs (cash purchase) paid for PV systems attempts to establish an objective methodology that most closely approximates the book value of PV system assets.

  17. Diversification of Oil and Gas Companies’ Activities in the Condition of Oil Prices Reduction and Economic Sanctions

    Directory of Open Access Journals (Sweden)

    Anastasia V. Sheveleva

    2016-01-01

    Full Text Available This article analyzes the influence of the economic sanctions imposed from the USA and the EU and oil prices reduction on the oil and gas companies and the directions of diversification of their activity as a method of management of price risks are considered. In the modern dynamic and quickly developing world, in the conditions of globalization and market economy, the oil and gas companies are affected by various risks which can exert negative impact on production and financial results. Risks can arise in absolutely various spheres, beginning from natural and technological hazards, and finishing with price risks. Sharp reduction of oil prices and decrease in demand for energy resources in the world markets, first of all in the European countries, input of financial or technological sanctions from the USA and Europe against Russia in 2014 has caused necessity of search a new more effective methods of price risks management of the oil and gas company. The methods of price risk management include the creation of commodity reserves, the establishment of a reserve fund, long-term contracts, subsidies from the state and the diversification of activities. The most effective it is possible to offer diversification of oil and gas companies' activity. It is expedient to carry out diversification of oil and gas companies' activity in such directions as geographical diversification of the oil, oil products and gas realization directions, geographical diversification of oil and gas companies' purchasing activity, diversification of oil, oil products and gas transportation ways, diversification of oil and gas companies' business. This approach allows to expand the activities of the oil and gas companies and create additional ways to generate revenue and enhance efficiency of oil and gas companies.

  18. Changes in alcohol consumption following a reduction in the price of spirits: a natural experiment in Switzerland.

    Science.gov (United States)

    Heeb, Jean-Luc; Gmel, Gerhard; Zurbrügg, Christoph; Kuo, Meichun; Rehm, Jürgen

    2003-10-01

    To discover what changes in alcohol consumption had occurred in subgroups defined by age, sex, volume of drinking and drinking occasions, following a reduction in the price of spirits in Switzerland in July 1999. Quasi-experimental. Longitudinal general-population survey with baseline 3 months before and follow-up 3 months after price change. Probabilistic telephone sample of 1347 individuals with at least monthly consumption on average in the previous 6 months at both interviews. The response rate at baseline was 74,8% and the attrition rate from baseline to follow-up 20.2%. Alcohol consumption was assessed by means of a beverage-specific graduated-frequency measure. High volume of drinking was defined as 40 + g/day for men and 20 + g/day for women. Binge drinking was defined as six + drinks on an occasion for men and four + drinks for women. Spirits consumption increased significantly (by 28.6%) in the total sample, and specifically in young males and in individuals who were low-volume drinkers at baseline. Consumption of alcohol overall, or of wine or beer, did not change significantly. No indication of effects of substitution was found. Spirits consumption showed price-responsiveness in the early postintervention period. This finding is of particular interest, as (a) the increase in spirits consumption took place at a time of generally declining consumption of alcohol in Switzerland; and (b) in contrast to the findings of most studies, the intervention, namely price reduction, increased availability.

  19. Oscillatory Reduction in Option Pricing Formula Using Shifted Poisson and Linear Approximation

    Directory of Open Access Journals (Sweden)

    Rachmawati Ro’fah Nur

    2014-03-01

    Full Text Available Option is one of derivative instruments that can help investors improve their expected return and minimize the risks. However, the Black-Scholes formula is generally used in determining the price of the option does not involve skewness factor and it is difficult to apply in computing process because it produces oscillation for the skewness values close to zero. In this paper, we construct option pricing formula that involve skewness by modified Black-Scholes formula using Shifted Poisson model and transformed it into the form of a Linear Approximation in the complete market to reduce the oscillation. The results are Linear Approximation formula can predict the price of an option with very accurate and successfully reduce the oscillations in the calculation processes.

  20. CO-2 reduction in the Danish transportation sector. Working paper 4: Cargo transport - road pricing system

    International Nuclear Information System (INIS)

    1997-03-01

    In this paper other financial control measures than fuel prices are considered for the transportation sector. The main effect discussed is that of the road pricing system. From the point of view of the CO 2 emission there could be introduced a registration tax for trucks over 4 tons as the higher transport expenditure would tend to reduce road transport demand. EU infrastructure tax directive however recommends taxes for trucks exceeding 12 tons. Road pricing will grow within the categories of lighter trucks but it is only a minor fraction of the total truck expenditure, taking into account fuel tax, weight tax and registration tax. Insurance cost is not included in these consideration. (EG) Prepared for Trafikministeriet. 22 refs

  1. Price responsive load programs: U.S. experience in creating markets for peak demand reductions

    International Nuclear Information System (INIS)

    Goldberg, Miriam L.; Michelman, Thomas; Rosenberg, Mitchell

    2003-01-01

    Demand response programs use a variety of pricing mechanisms to induce end-use customers to reduce demand at specified periods. U.S. distribution utilities, regional market operators, and their regulators have implemented demand response programs with the objectives of improving electric system reliability, avoiding price spikes, and relieving local transmission congestion. This paper reviews the design and performance of market-linked demand response programs operated in 2001 and 2002, focusing on the relationship between program design and customer participation and the development of accurate and feasible methods to measure demand response at the facility level

  2. The Price-Anderson Act: A Linchpin in the Development of Commercial Nuclear Power in the United States

    International Nuclear Information System (INIS)

    Quattrocchi, J. L.

    2006-01-01

    The dawn of the atomic age brought with it both the hope of great benefit and the fear of great disaster. By the mid-1950's, the United States recognized that it was in the national interest to promote commercial development of nuclear energy in medicine and industry, particularly in the generation of electric power. The uncertainties of the technology and the potential for severe accidents were clear obstacles to commercial development. Exposure to potentially serious uninsured liabilities inhibited the private sector. These impediments led Congress to enact the Price-Anderson Act in 1957. Its three-fold purpose was to encourage private development of nuclear power, establish a framework for handling liability claims and provide a ready source of funds to compensate accident victims. The law was originally enacted for ten years but has now been extended four times. The major provisions of the Act and its importance to the public and to insurers are described in this paper.(author)

  3. Peak reduction in decentralised electricity systems : Markets and prices for flexible planning

    NARCIS (Netherlands)

    Höning, N.F.

    2016-01-01

    In contemporary societies, industrial processes as well as domestic activities rely to a large degree on a well-functioning electricity system. This reliance exists both structurally (the system should always be available) and economically (the prices for electricity affect the costs of operating a

  4. Stocking and price-reduction decisions for non-instantaneous deteriorating items under time value of money

    Directory of Open Access Journals (Sweden)

    Freddy Andrés Pérez

    2019-01-01

    Full Text Available Deteriorating inventory models are used as decision support tools for managers primarily, although not exclusively, in the retail trade. The mathematical modeling of deteriorating items allows managers to analyze their inventory management systems to identify areas that can be improved and to measure the corresponding potential benefits. This study develops an enhanced deteriorating inventory model for optimizing the inventory control strategy of companies operating in sectors with deteriorating products. In contrast with previous studies, our model holistically accounts for the overall financial effect of a company’s policies on product price discounting and on inventory shortages while considering the time value of money (TVM. We aim to find the optimal replenishment strategy and the optimal price reductions that maximize the discounted profit function of this analytical model over a fixed planning horizon. To this end, we use an economic order quantity model to study the effects of the TVM and inflation. The model accounts for pre- and post-deterioration discounts on the selling price for non-instantaneous deteriorating products with the demand rate being a function of time, price-discounts and stock-keeping units. Shortages are allowed and partially backordered, depending on the waiting time until the next replenishment. Additionally, we consider the effect of discounts on the selling price when items have either an instant deterioration or a fixed lifetime. We propose five implementable solutions for obtaining the optimal values, and examine their performance. We present some numerical examples to illustrate the applicability of the models, and carry out a sensitivity analysis. The study reveals that accounting for TVM and inventory shortages is complex and time-consuming; nevertheless, we find that accounting for TVM and shortages can be valuable in terms of increasing the yields of companies. Finally, we provide some important

  5. Resources available for nuclear power plant emergencies under the Price-Anderson Act and the Robert T. Stafford Disaster Relief and Emergency Assistance Act

    International Nuclear Information System (INIS)

    1992-07-01

    Through a series of TABLETOP exercises and other events that involved participation by State and Federal organizations, the need was identified for further explanation of financial and other related resources available to individuals and State and local governments in a major emergency at a nuclear power plant. A group with representatives from the Nuclear Regulatory commission, the Federal Emergency Management Agency, and the American Nuclear Insurers/Mutual Atomic Energy Liability Underwriters was established to work toward this end. This report is the result of that effort. This document is not meant to modify, undermine, or replace any other planning document (e.g., the Federal Radiological Emergency Response Plan or the Federal Response Plan). Its purpose is to clarify issues that have surfaced regarding resources available under the Price-Anderson and Stafford Acts

  6. Implications of the recent reductions in natural gas prices for emissions of CO2 from the US power sector.

    Science.gov (United States)

    Lu, Xi; Salovaara, Jackson; McElroy, Michael B

    2012-03-06

    CO(2) emissions from the US power sector decreased by 8.76% in 2009 relative to 2008 contributing to a decrease over this period of 6.59% in overall US emissions of greenhouse gases. An econometric model, tuned to data reported for regional generation of US electricity, is used to diagnose factors responsible for the 2009 decrease. More than half of the reduction is attributed to a shift from generation of power using coal to gas driven by a recent decrease in gas prices in response to the increase in production from shale. An important result of the model is that, when the cost differential for generation using gas rather than coal falls below 2-3 cents/kWh, less efficient coal fired plants are displaced by more efficient natural gas combined cycle (NGCC) generation alternatives. Costs for generation using NGCC decreased by close to 4 cents/kWh in 2009 relative to 2008 ensuring that generation of electricity using gas was competitive with coal in 2009 in contrast to the situation in 2008 when gas prices were much higher. A modest price on carbon could contribute to additional switching from coal to gas with further savings in CO(2) emissions.

  7. 48 CFR 301.106 - Office of Management and Budget approval under the Paperwork Reduction Act.

    Science.gov (United States)

    2010-10-01

    ... Issuance 301.106 Office of Management and Budget approval under the Paperwork Reduction Act. (a) The... approval from the Office of Management and Budget (OMB) before collecting the same information from 10 or... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Office of Management and...

  8. 46 CFR 159.001-9 - OMB Control Numbers assigned pursuant to the Paperwork Reduction Act.

    Science.gov (United States)

    2010-10-01

    .... This section collects and displays the control numbers assigned to information collection and... Paperwork Reduction Act of 1980, (44 U.S.C. 3501 et seq.). The Coast Guard intends that this section comply with the requirements of 44 U.S.C. 3507(f) which requires that agencies display a current control...

  9. 15 CFR 806.18 - OMB control numbers assigned to the Paperwork Reduction Act.

    Science.gov (United States)

    2010-01-01

    ... 15 Commerce and Foreign Trade 3 2010-01-01 2010-01-01 false OMB control numbers assigned to the Paperwork Reduction Act. 806.18 Section 806.18 Commerce and Foreign Trade Regulations Relating to Commerce and Foreign Trade (Continued) BUREAU OF ECONOMIC ANALYSIS, DEPARTMENT OF COMMERCE DIRECT INVESTMENT...

  10. 7 CFR 1425.24 - OMB control number assigned pursuant to Paperwork Reduction Act.

    Science.gov (United States)

    2010-01-01

    ...) COMMODITY CREDIT CORPORATION, DEPARTMENT OF AGRICULTURE LOANS, PURCHASES, AND OTHER OPERATIONS COOPERATIVE MARKETING ASSOCIATIONS § 1425.24 OMB control number assigned pursuant to Paperwork Reduction Act. The... Office of Management and Budget (OMB) under the provisions of 44 U.S.C. Chapter 35 and have been assigned...

  11. The impact of price reductions on individuals' choice of healthy meals away from home.

    Science.gov (United States)

    Nordström, Jonas; Thunström, Linda

    2015-06-01

    Food high in energy but low in nutritional value is an important contributor to several serious illnesses, and one type of food that is particularly high in energy but low in nutrition is food consumed away from home. In this paper, we examine the demand and willingness to pay for healthy, Keyhole-labelled meals. A Keyhole-labelled meal is particularly low in energy, fat, sugar and salt, but particularly high in fibre. The results suggest that to get the majority of individuals to choose the healthy option regularly it would be necessary to alter the relative price between healthy and less healthy meals. Generally groups of individuals with a poor nutritional intake require a larger compensation (subsidy) before they choose the healthy alternative. About one third of respondents would choose the healthy option regularly if the prices for a healthy and less healthy meal were the same. In particular groups of individuals who already have a relatively good nutritional intake would select the healthy option. Groups with a generally poor nutritional intake (men and individuals with lower education and lower income) would gain health benefits from a subsidy of Keyhole-labelled meals. Copyright © 2015 Elsevier Ltd. All rights reserved.

  12. Projects to Improve Air Quality at Ports – 2014 Diesel Emissions Reduction Act (DERA) Funding Opportunity - Closed Announcement FY 2014

    Science.gov (United States)

    OTAQ is soliciting proposals that achieve reductions in diesel emissions produced by diesel engines and diesel emissions exposure, from fleets operating at marine and inland water ports under the Diesel Emissions Reduction Act (DERA).

  13. Projects to Improve Air Quality at Ports – 2013 Diesel Emissions Reduction Act (DERA) Funding Opportunity - Closed Announcement FY 2014

    Science.gov (United States)

    OTAQ is soliciting proposals that achieve reductions in diesel emissions produced by diesel engines and diesel emissions exposure, from fleets operating at marine and inland water ports under the Diesel Emissions Reduction Act (DERA).

  14. Achieving 80% greenhouse gas reduction target in Saudi Arabia under low and medium oil prices

    KAUST Repository

    Alshammari, Yousef Mohammad; Sarathy, Mani

    2016-01-01

    meeting the 80% target, and it would also lower costs of transition to low carbon energy system while maintaining cleaner use of hydrocarbons with CCS. Setting very deep GHG reduction targets may be economically uncompetitive in consideration of the energy

  15. 14 CFR 11.201 - Office of Management and Budget (OMB) control numbers assigned under the Paperwork Reduction Act.

    Science.gov (United States)

    2010-01-01

    ... 14 Aeronautics and Space 1 2010-01-01 2010-01-01 false Office of Management and Budget (OMB) control numbers assigned under the Paperwork Reduction Act. 11.201 Section 11.201 Aeronautics and Space... PROCEDURES Paperwork Reduction Act Control Numbers § 11.201 Office of Management and Budget (OMB) control...

  16. Radiation dose reduction at a price: the effectiveness of a thyroid shield during head CT scanning

    International Nuclear Information System (INIS)

    Fu Qiang; Lu Tao; Zhang Ling

    2008-01-01

    Objective: To assess radiation dose to the thyroid in patients undergoing head CT scanning and to evaluate dose reduction to the thyroid by load shielding. Methods: A post-morterm was scanned by different model and study was undertaken to evaluate the dose reduction by thyroid lead shields and assess their practicality in a clinical setting. (a)No thyroid shields and (b) thyroid shield. One thermoluminescent dosimeters (TLDs)were placed over the thyroid gland center, A thyroid lead shield (Pb eq 0.5mm)was placed around the neck of post-morterm. Scan parameter, CTDIw and DLP were recorded. Results: (a) 0.207mSv; (b) 0.085mSv. A mean effective radiation dose reduction of 58% was seen in the shielded versus the unshielded. Conclusion: Thyroid exposure to scattered radiation from head CT scanning only once is associated with a low but not negligible risk of cancer, but accumulatived doses to the thyroid are serious, highlighting the need for increased awareness of patient radiation protection. Thyroid lead shielding yields significant radiation protection, which should be used routinely during head CT scan. (authors)

  17. The impact of China's carbon allowance allocation rules on the product prices and emission reduction behaviors of ETS-covered enterprises

    International Nuclear Information System (INIS)

    Zhang, Yue-Jun; Wang, Ao-Dong; Tan, Weiping

    2015-01-01

    It is an important task for China to allocate carbon emission allowance to realize its carbon reduction target and establish carbon trading market. China has designed several allocation rules within seven pilot regions. What influence those rules may cause is closely related with the enthusiasm of emission trading scheme (ETS) covered enterprises' participation in carbon market, and more importantly, with the mechanism design and sustainable development of carbon market. For this purpose, the multi-stage profit model is developed to analyze the ETS-covered enterprises' product prices and emission reduction behaviors under different allocation rules. The results show that, first, under the rules of grandfathering, self-declaration and auctioning, when deciding the optimal product price and optimal carbon emission reduction, those enterprises may focus on maximizing current stage profit; however, under the rule of benchmarking, those enterprises may care more about the impact of current decisions on the profit in next stage. Second, the optimal product price policy is positively correlated with the price of the same kind products, consumers' low-carbon awareness and government subsidy. Finally, along with the increase of carbon price, consumers' low-carbon awareness and government subsidy and the decrease of carbon emission cap, those enterprises tend to reduce carbon emissions. - Highlights: • Analyze the impact of carbon allowance allocation rules on ETS-covered enterprises. • For grandfather, self-declaration and auction, they may maximize current profits. • For benchmark, they care the effect of current decisions on the coming profits. • The optimal product price positively relates to low-carbon awareness and subsidy. • Carbon price, low-carbon awareness and subsidy rise leads their emission reduction.

  18. Long-term management of radioactive waste - will the Price-Anderson system work for third party liability issues arising from the Nuclear Waste Policy Act of 1982

    International Nuclear Information System (INIS)

    Kuznick, S.K.

    1985-01-01

    Two pieces of legislation have been enacted in the United States to provide a framework for the management of radioactive waste and spent nuclear fuel: the Low-level Radioactive Waste Policy Act (1980) and the Nuclear Waste Policy Act of 1982. Neither of these statutes provide a means for resolving third party liability issues arising out of radioactive waste management. However, the Price Anderson Act (originally enacted in 1957) provides a system of financial protection that can be applied to waste management activities and that can resolve most issues pertaining to liability for nuclear damage that may result from long-term management of radioactive waste and spent nuclear fuel. (NEA) [fr

  19. An Analysis of Decision Factors on the Price of South Korea’s Certified Emission Reductions in Use of Vector Error Correction Model

    Directory of Open Access Journals (Sweden)

    Sumin Park

    2017-09-01

    Full Text Available This study analyzes factors affecting the price of South Korea’s Certified Emission Reduction (CER using statistical methods. CER refers to the transaction price for the amount of carbon emitted. Analysis of results found a co-integration relationship among the price of South Korea’s CER, oil price (WTI, and South Korea’s maximum electric power demand, which means that there is a long-term relationship among the three variables. Based on this result, VECM (vector error correction model analysis, impulse response function, and variance decomposition were performed. As the oil price (WTI increases, the demand for gas in power generation in Korea declines while the demand for coal increases. This leads to increased greenhouse gas (GHG; e.g., CO2 emissions and increased price of South Korea’s CERs. In addition, rising oil prices (WTI cause a decline in demand for oil products such as kerosene, which results in an increase in South Korea’s maximum power demand.

  20. Determinants of contractor pricing strategy

    OpenAIRE

    Moses, O. Douglas

    1988-01-01

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

  1. Comparing effectiveness of mass media campaigns with price reductions targeting fruit and vegetable intake on US cardiovascular disease mortality and race disparities.

    Science.gov (United States)

    Pearson-Stuttard, Jonathan; Bandosz, Piotr; Rehm, Colin D; Afshin, Ashkan; Peñalvo, Jose L; Whitsel, Laurie; Danaei, Goodarz; Micha, Renata; Gaziano, Tom; Lloyd-Williams, Ffion; Capewell, Simon; Mozaffarian, Dariush; O'Flaherty, Martin

    2017-07-01

    Background: A low intake of fruits and vegetables (F&Vs) is a major risk factor for cardiovascular disease (CVD) in the United States. Both mass media campaigns (MMCs) and economic incentives may increase F&V consumption. Few data exist on their comparative effectiveness. Objective: We estimated CVD mortality reductions potentially achievable by price reductions and MMC interventions targeting F&V intake in the US population. Design: We developed a US IMPACT Food Policy Model to compare 3 policies targeting F&V intake across US adults from 2015 to 2030: national MMCs and national F&V price reductions of 10% and 30%. We accounted for differences in baseline diets, CVD rates, MMC coverage, MMC duration, and declining effects over time. Outcomes included cumulative CVD (coronary heart disease and stroke) deaths prevented or postponed and life-years gained (LYGs) over the study period, stratified by age, sex, and race. Results: A 1-y MMC in 2015 would increase the average national F&V consumption by 7% for 1 y and prevent ∼18,600 CVD deaths (95% CI: 17,600, 19,500), gaining ∼280,100 LYGs by 2030. With a 15-y MMC, increased F&V consumption would be sustained, yielding a 3-fold larger reduction (56,100; 95% CI: 52,400, 57,700) in CVD deaths. In comparison, a 10% decrease in F&V prices would increase F&V consumption by ∼14%. This would prevent ∼153,300 deaths (95% CI: 146,400, 159,200), gaining ∼2.51 million LYGs. For a 30% price decrease, resulting in a 42% increase in F&V consumption, corresponding values would be 451,900 CVD deaths prevented or postponed (95% CI: 433,100, 467,500) and 7.3 million LYGs gained. Effects were similar by sex, with a smaller proportional effect and larger absolute effects at older ages. A 1-y MMC would be 35% less effective in preventing CVD deaths in non-Hispanic blacks than in whites. In comparison, price-reduction policies would have equitable proportional effects. Conclusion: Both national MMCs and price-reduction policies

  2. The Massachusetts Toxics Use Reduction Act: a model for nanomaterials regulation?

    Science.gov (United States)

    Nash, Jennifer

    2012-08-01

    Nanomaterials exemplify a new class of emerging technologies that have significant economic and social value, pose uncertain health and environmental risks, and are entering the marketplace at a rapid pace. Effective regimes for regulating emerging technologies generate information about known or suspected hazards and draw on private sector expertise to guide managers' behavior toward risk reduction, even in the absence of clear evidence of harm. This paper considers the extent to which the federal Toxic Substances Control Act (TSCA) accomplishes those objectives. It offers the approach of the Massachusetts Toxics Use Reduction Act (TURA) as a possible supplement to TSCA, filling gaps in agency knowledge and private sector capacities. TURA is notable for its focus on chemicals use and hazard and its emphasis on strengthening firms' internal management systems. Given the current deadlock in Congressional efforts to modernize federal laws such as TSCA, the role of state laws like TURA merit attention. Absent definitive information about risk, a governance strategy that generates information and focuses management attention on reducing hazards is worth considering.

  3. The Massachusetts Toxics Use Reduction Act: a model for nanomaterials regulation?

    International Nuclear Information System (INIS)

    Nash, Jennifer

    2012-01-01

    Nanomaterials exemplify a new class of emerging technologies that have significant economic and social value, pose uncertain health and environmental risks, and are entering the marketplace at a rapid pace. Effective regimes for regulating emerging technologies generate information about known or suspected hazards and draw on private sector expertise to guide managers’ behavior toward risk reduction, even in the absence of clear evidence of harm. This paper considers the extent to which the federal Toxic Substances Control Act (TSCA) accomplishes those objectives. It offers the approach of the Massachusetts Toxics Use Reduction Act (TURA) as a possible supplement to TSCA, filling gaps in agency knowledge and private sector capacities. TURA is notable for its focus on chemicals use and hazard and its emphasis on strengthening firms’ internal management systems. Given the current deadlock in Congressional efforts to modernize federal laws such as TSCA, the role of state laws like TURA merit attention. Absent definitive information about risk, a governance strategy that generates information and focuses management attention on reducing hazards is worth considering.

  4. Minimum target prices for production of direct-acting antivirals and associated diagnostics to combat hepatitis C virus.

    Science.gov (United States)

    van de Ven, Nikolien; Fortunak, Joe; Simmons, Bryony; Ford, Nathan; Cooke, Graham S; Khoo, Saye; Hill, Andrew

    2015-04-01

    Combinations of direct-acting antivirals (DAAs) can cure hepatitis C virus (HCV) in the majority of treatment-naïve patients. Mass treatment programs to cure HCV in developing countries are only feasible if the costs of treatment and laboratory diagnostics are very low. This analysis aimed to estimate minimum costs of DAA treatment and associated diagnostic monitoring. Clinical trials of HCV DAAs were reviewed to identify combinations with consistently high rates of sustained virological response across hepatitis C genotypes. For each DAA, molecular structures, doses, treatment duration, and components of retrosynthesis were used to estimate costs of large-scale, generic production. Manufacturing costs per gram of DAA were based upon treating at least 5 million patients per year and a 40% margin for formulation. Costs of diagnostic support were estimated based on published minimum prices of genotyping, HCV antigen tests plus full blood count/clinical chemistry tests. Predicted minimum costs for 12-week courses of combination DAAs with the most consistent efficacy results were: US$122 per person for sofosbuvir+daclatasvir; US$152 for sofosbuvir+ribavirin; US$192 for sofosbuvir+ledipasvir; and US$115 for MK-8742+MK-5172. Diagnostic testing costs were estimated at US$90 for genotyping US$34 for two HCV antigen tests and US$22 for two full blood count/clinical chemistry tests. Minimum costs of treatment and diagnostics to cure hepatitis C virus infection were estimated at US$171-360 per person without genotyping or US$261-450 per person with genotyping. These cost estimates assume that existing large-scale treatment programs can be established. © 2014 The Authors. Hepatology published by Wiley Periodicals, Inc., on behalf of the American Association for the Study of Liver Diseases.

  5. 12 CFR 226.35 - Prohibited acts or practices in connection with higher-priced mortgage loans.

    Science.gov (United States)

    2010-01-01

    ..., and other loan pricing terms currently offered to consumers by a representative sample of creditors for mortgage transactions that have low-risk pricing characteristics. The Board publishes average... and premiums for mortgage-related insurance required by the creditor, such as insurance against loss...

  6. 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...

  7. 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.

  8. Supermarket Healthy Eating for Life (SHELf: protocol of a randomised controlled trial promoting healthy food and beverage consumption through price reduction and skill-building strategies

    Directory of Open Access Journals (Sweden)

    Le Ha ND

    2011-09-01

    Full Text Available Abstract Background In the context of rising food prices, there is a need for evidence on the most effective approaches for promoting healthy eating. Individually-targeted behavioural interventions for increasing food-related skills show promise, but are unlikely to be effective in the absence of structural supports. Fiscal policies have been advocated as a means of promoting healthy eating and reducing obesity and nutrition-related disease, but there is little empirical evidence of their effectiveness. This paper describes the Supermarket Healthy Eating for LiFe (SHELf study, a randomised controlled trial to investigate effectiveness and cost-effectiveness of a tailored skill-building intervention and a price reduction intervention, separately and in combination, against a control condition for promoting purchase and consumption of healthy foods and beverages in women from high and low socioeconomic groups. Methods/design SHELf comprises a randomised controlled trial design, with participants randomised to receive either (1 a skill-building intervention; (2 price reductions on fruits, vegetables and low-joule soft drink beverages and water; (3 a combination of skill-building and price reductions; or (4 a control condition. Five hundred women from high and low socioeconomic areas will be recruited through a store loyalty card program and local media. Randomisation will occur on receipt of informed consent and baseline questionnaire. An economic evaluation from a societal perspective using a cost-consequences approach will compare the costs and outcomes between intervention and control groups. Discussion This study will build on a pivotal partnership with a major national supermarket chain and the Heart Foundation to investigate the effectiveness of intervention strategies aimed at increasing women's purchasing and consumption of fruits and vegetables and decreased purchasing and consumption of sugar-sweetened beverages. It will be among the

  9. Price-Anderson Act Amendments Act of 1985. Hearing before the Subcommittee on Energy Research and Development of the Committee on Energy and Natural Resources, United States Senate, Ninety-Ninth Congress, First Session on S. 1225, June 25, 1985

    International Nuclear Information System (INIS)

    Anon.

    1986-01-01

    A hearing on S. 1225, which clarifies and expands insurance coverage under the Price-Anderson Act, brought testimony from Nuclear Regulatory Commissioners, representatives of several states and power companies, insurance underwriters, and DOE. At issue was DOE's recommended changes to limit liability and to include commercial and defense waste facilities under the provisions for special coverage in event of an extraordinary nuclear occurrence. DOE's request was to update, but not to radically change the Price-Anderson Act. Utilities and insurance underwriters objected to policies which would impose heavier financial burdens on the nuclear power industry by requiring insurance pools. Witnesses noted the adverse effects of unlimited liability as well as the need to insure the health of the insurance industry in conjunction with promoting nuclear power. The testimony of 17 witnesses and additional responses for the record follows the text of S. 1225

  10. The Effects of the 2004 Reduction in the Price of Alcohol on Alcohol-Related Harm in Finland – a Natural Experiment Based on Register Data

    Directory of Open Access Journals (Sweden)

    Kimmo Herttua

    2010-01-01

    Full Text Available Changes in alcohol pricing have been documented as inversely associated with changes in consumption and alcohol-related problems. Evidence of the association between price changes and health problems is nevertheless patchy and is based to a large extent on cross-sectional state-level data, or time series of such cross-sectional analyses. Natural experimental studies have been called for. There was a substantial reduction in the price of alcohol in Finland in 2004 due to a reduction in alcohol taxes of one third, on average, and the abolition of duty-free allowances for travellers from the EU. These changes in the Finnish alcohol policy could be considered a natural experiment, which offered a good opportunity to study what happens with regard to alcohol-related problems when prices go down. The present study investigated the effects of this reduction in alcohol prices on (1 alcohol-related and all-cause mortality, and mortality due to cardiovascular diseases, (2 alcohol-related morbidity in terms of hospitalisation, (3 socioeconomic differentials in alcohol-related mortality, and (4 small-area differences in interpersonal violence in the Helsinki Metropolitan area. Differential trends in alcohol-related mortality prior to the price reduction were also analysed.  A variety of population-based register data was used in the study. Time-series intervention analysis modelling was applied to monthly aggregations of deaths and hospitalisation for the period 1996-2006. These and other mortality analyses were carried out for men and women aged 15 years and over. Socioeconomic differentials in alcohol-related mortality were assessed on a before/after basis, mortality being followed up in 2001-2003 (before the price reduction and 2004-2005 (after. Alcohol-related mortality was defined in all the studies on mortality on the basis of information on both underlying and contributory causes of death. Hospitalisation related to alcohol meant that there was a

  11. Got ACTs? Availability, price, market share and provider knowledge of anti-malarial medicines in public and private sector outlets in six malaria-endemic countries

    Directory of Open Access Journals (Sweden)

    O'Connell Kathryn A

    2011-10-01

    Full Text Available Abstract Background Artemisinin-based combination therapy (ACT is the first-line malaria treatment throughout most of the malaria-endemic world. Data on ACT availability, price and market share are needed to provide a firm evidence base from which to assess the current situation concerning quality-assured ACT supply. This paper presents supply side data from ACTwatch outlet surveys in Benin, the Democratic Republic of Congo (DRC, Madagascar, Nigeria, Uganda and Zambia. Methods Between March 2009 and June 2010, nationally representative surveys of outlets providing anti-malarials to consumers were conducted. A census of all outlets with the potential to provide anti-malarials was conducted in clusters sampled randomly. Results 28,263 outlets were censused, 51,158 anti-malarials were audited, and 9,118 providers interviewed. The proportion of public health facilities with at least one first-line quality-assured ACT in stock ranged between 43% and 85%. Among private sector outlets stocking at least one anti-malarial, non-artemisinin therapies, such as chloroquine and sulphadoxine-pyrimethamine, were widely available (> 95% of outlets as compared to first-line quality-assured ACT ( Conclusions These standardized, nationally representative results demonstrate the typically low availability, low market share and high prices of ACT, in the private sector where most anti-malarials are accessed, with some exceptions. The results confirm that there is substantial room to improve availability and affordability of ACT treatment in the surveyed countries. The data will also be useful for monitoring the impact of interventions such as the Affordable Medicines Facility for malaria.

  12. 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...

  13. Reduction of regional disparities in electric power prices by spatially effective measures and planning in the Federal Republic of Germany

    Energy Technology Data Exchange (ETDEWEB)

    Wagner, G

    1984-01-01

    For a long time energy policy has been trying to reduce disparities in electric power prices by administrative and financial measures alone. Governmental planning was opening up new prospects when long-range fuel transport - and in particular the transport of hard coal by ship or by rail - was seeing a drop in prices in the mid seventies. Since fuel transport has been lower-priced than the transport of equivalent quantities of electric power, regional disparities in electric power prices which are due to the respective supply structures may be levelled by way of power plant site selection and power plant installation according to the specific regional loads. A decentralized expansion of power generation within reach of the consumer requires but a minimum of wiring. Structural price disparities are reduced in particular in regions importing electric power at excessive prices. In addition, costs may be saved by rational energy utilization consisting above all in the application of dual-purpose power plants and by the rationalization of network infrastuctures. The study abstracted is part of a research project of the Federal Research Institute for Land Studies and Planning. The project is dealing with concepts of decentralized electric power supply and space heating. It adds to already existing related studies which deal above all with the basic problems of scheduling and planning the contents and inner structure of decentralized energy concepts.

  14. 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...

  15. Got ACTs? Availability, price, market share and provider knowledge of anti-malarial medicines in public and private sector outlets in six malaria-endemic countries.

    Science.gov (United States)

    O'Connell, Kathryn A; Gatakaa, Hellen; Poyer, Stephen; Njogu, Julius; Evance, Illah; Munroe, Erik; Solomon, Tsione; Goodman, Catherine; Hanson, Kara; Zinsou, Cyprien; Akulayi, Louis; Raharinjatovo, Jacky; Arogundade, Ekundayo; Buyungo, Peter; Mpasela, Felton; Adjibabi, Chérifatou Bello; Agbango, Jean Angbalu; Ramarosandratana, Benjamin Fanomezana; Coker, Babajide; Rubahika, Denis; Hamainza, Busiku; Chapman, Steven; Shewchuk, Tanya; Chavasse, Desmond

    2011-10-31

    Artemisinin-based combination therapy (ACT) is the first-line malaria treatment throughout most of the malaria-endemic world. Data on ACT availability, price and market share are needed to provide a firm evidence base from which to assess the current situation concerning quality-assured ACT supply. This paper presents supply side data from ACTwatch outlet surveys in Benin, the Democratic Republic of Congo (DRC), Madagascar, Nigeria, Uganda and Zambia. Between March 2009 and June 2010, nationally representative surveys of outlets providing anti-malarials to consumers were conducted. A census of all outlets with the potential to provide anti-malarials was conducted in clusters sampled randomly. 28,263 outlets were censused, 51,158 anti-malarials were audited, and 9,118 providers interviewed. The proportion of public health facilities with at least one first-line quality-assured ACT in stock ranged between 43% and 85%. Among private sector outlets stocking at least one anti-malarial, non-artemisinin therapies, such as chloroquine and sulphadoxine-pyrimethamine, were widely available (> 95% of outlets) as compared to first-line quality-assured ACT (sector, first-line quality-assured ACT was available for free in all countries except Benin and the DRC (US$1.29 [Inter Quartile Range (IQR): $1.29-$1.29] and $0.52[IQR: $0.00-$1.29] per adult equivalent dose respectively). In the private sector, first-line quality-assured ACT was 5-24 times more expensive than non-artemisinin therapies. The exception was Madagascar where, due to national social marketing of subsidized ACT, the price of first-line quality-assured ACT ($0.14 [IQR: $0.10, $0.57]) was significantly lower than the most popular treatment (chloroquine, $0.36 [IQR: $0.36, $0.36]). Quality-assured ACT accounted for less than 25% of total anti-malarial volumes; private-sector quality-assured ACT volumes represented less than 6% of the total market share. Most anti-malarials were distributed through the private sector

  16. 7 CFR 62.400 - OMB control number assigned pursuant to the Paperwork Reduction Act.

    Science.gov (United States)

    2010-01-01

    ...) AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing Practices), DEPARTMENT OF AGRICULTURE (CONTINUED) REGULATIONS AND STANDARDS UNDER THE AGRICULTURAL MARKETING ACT OF 1946 AND THE EGG PRODUCTS INSPECTION ACT (CONTINUED) LIVESTOCK, MEAT, AND OTHER AGRICULTURAL COMMODITIES (QUALITY SYSTEMS VERIFICATION...

  17. 76 FR 27062 - Biologics Price Competition and Innovation Act of 2009; Options for a User Fee Program for...

    Science.gov (United States)

    2011-05-10

    ... under the Public Health Service Act (PHS Act). FDA is requesting input on the identified principles for... adhere to these principles, and performance goals for this program. FDA plans to review the comments... drug marketing applications were submitted each year for FDA review. The number of participants in the...

  18. 15 CFR 30.63 - Office of Management and Budget control numbers assigned pursuant to the Paperwork Reduction Act.

    Science.gov (United States)

    2010-01-01

    ... 15 Commerce and Foreign Trade 1 2010-01-01 2010-01-01 false Office of Management and Budget control numbers assigned pursuant to the Paperwork Reduction Act. 30.63 Section 30.63 Commerce and Foreign... FOREIGN TRADE REGULATIONS General Administrative Provisions § 30.63 Office of Management and Budget...

  19. 78 FR 44188 - Paperwork Reduction Act of 1995, as Amended by Public Law 104-13; Proposed Collection, Comment...

    Science.gov (United States)

    2013-07-23

    ... TENNESSEE VALLEY AUTHORITY Paperwork Reduction Act of 1995, as Amended by Public Law 104-13; Proposed Collection, Comment Request AGENCY: Tennessee Valley Authority. ACTION: Proposed Collection... preference. The information is used to make comparative appraisals and to assist in selections. The affected...

  20. 75 FR 27863 - Paperwork Reduction Act of 1995, as Amended by Public Law 104-13; Proposed Collection, Comment...

    Science.gov (United States)

    2010-05-18

    ... TENNESSEE VALLEY AUTHORITY Paperwork Reduction Act of 1995, as Amended by Public Law 104-13; Proposed Collection, Comment Request AGENCY: Tennessee Valley Authority. ACTION: Proposed collection... preference. The information is used to make comparative appraisals and to assist in selections. The affected...

  1. 78 FR 5446 - Federal Acquisition Regulation; Submission for OMB Review; Price Redetermination

    Science.gov (United States)

    2013-01-25

    ... the fundamental purposes of the Paperwork Reduction Act because of the burden it puts on the entity... onerous, and will require a contractor to implement accounting systems that are equipped to account for...-price contract with prospective price redetermination would have accounting systems that allow for...

  2. Savannah River Site Footprint Reduction Results under the American Recovery and Reinvestment Act - 13302

    Energy Technology Data Exchange (ETDEWEB)

    Flora, Mary [Savannah River Nuclear Solutions Bldg. 730-4B, Aiken, SC 29808 (United States); Adams, Angelia [United States Department of Energy Bldg. 730-B, Aiken, SC 29808 (United States); Pope, Robert [United States Environmental Protection Agency Region IV Atlanta, GA 30303 (United States)

    2013-07-01

    The Savannah River Site (SRS) is an 802 square-kilometer United States Department of Energy (US DOE) nuclear facility located along the Savannah River near Aiken, South Carolina, managed and operated by Savannah River Nuclear Solutions. Construction of SRS began in the early 1950's to enhance the nation's nuclear weapons capability. Nuclear weapons material production began in the early 1950's, eventually utilizing five production reactors constructed to support the national defense mission. Past operations have resulted in releases of hazardous constituents and substances to soil and groundwater, resulting in 515 waste sites with contamination exceeding regulatory thresholds. More than 1,000 facilities were constructed onsite with approximately 300 of them considered radiological, nuclear or industrial in nature. In 2003, SRS entered into a Memorandum of Agreement with its regulators to accelerate the cleanup using an Area Completion strategy. The strategy was designed to focus cleanup efforts on the 14 large industrial areas of the site to realize efficiencies of scale in the characterization, assessment, and remediation activities. This strategy focuses on addressing the contaminated surface units and the vadose zone and addressing groundwater plumes subsequently. This approach streamlines characterization and remediation efforts as well as the required regulatory documentation, while enhancing the ability to make large-scale cleanup decisions. In February 2009, Congress approved the American Reinvestment and Recovery Act (ARRA) to create jobs and promote economic recovery. At SRS, ARRA funding was established in part to accelerate the completion of environmental remediation and facility deactivation and decommissioning (D and D). By late 2012, SRS achieved 85 percent footprint reduction utilizing ARRA funding by accelerating and coupling waste unit remediation with D and D of remnant facilities. Facility D and D activities were sequenced and

  3. 7 CFR 33.60 - OMB control number assigned pursuant to the Paperwork Reduction Act.

    Science.gov (United States)

    2010-01-01

    ... MARKETING SERVICE (Standards, Inspections, Marketing Practices), DEPARTMENT OF AGRICULTURE COMMODITY STANDARDS AND STANDARD CONTAINER REGULATIONS REGULATIONS ISSUED UNDER AUTHORITY OF THE EXPORT APPLE ACT...

  4. 7 CFR 59.400 - OMB control number assigned pursuant to the Paperwork Reduction Act.

    Science.gov (United States)

    2010-01-01

    ...) AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing Practices), DEPARTMENT OF AGRICULTURE (CONTINUED) REGULATIONS AND STANDARDS UNDER THE AGRICULTURAL MARKETING ACT OF 1946 AND THE EGG PRODUCTS INSPECTION ACT (CONTINUED) LIVESTOCK MANDATORY REPORTING OMB Control Number § 59.400 OMB control number...

  5. Innovation in technology for the least product price and cost - a new minimum cost relation for reductions during technological learning

    International Nuclear Information System (INIS)

    Duffey, R.B.

    2004-01-01

    By analogy with the concepts of human learning, we show and introduce a new method to obtain least product cost and price that includes the effect of innovation and technological learning in manufacturing and production. This key result is a new paradigm instead of the usual economic 'power law' formulation. The new analysis is based on extensive analysis of many technological systems, and is directly related to the presence of learning as experience is accumulated. The results agree with the observed data. By using a consistent basis, the method replaces previous empirical 'power law' descriptions of the technological learning curve with a new 'marginal minimum cost equation' (MCE). (author)

  6. Accelerated Reduction in \\(SO_2\\) Emissions from the U.S. Power Sector Triggered by Changing Prices of Natural Gas

    OpenAIRE

    Wu, Gang; McElroy, Michael Brendon; Lu, Xi; Nielsen, Chris

    2012-01-01

    Emissions of sulfur dioxide (\\(SO_2\\)) from the U.S. power sector decreased by 24% in 2009 relative to 2008. The Logarithmic Mean Divisia Index (LMDI) approach was applied to isolate the factors responsible for this decrease. It is concluded that 15% of the decrease can be attributed to the drop in demand for electricity triggered by the economic recession, and 28% can be attributed to switching of fuel from coal to gas responding to the decrease in prices for the latter. The largest factor i...

  7. 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....

  8. 22 CFR 201.03 - OMB approval under the Paperwork Reduction Act.

    Science.gov (United States)

    2010-04-01

    .... The information is required from suppliers in order to receive payment for commodities or commodity..., and the Office of Management and Budget, Paperwork Reduction Project (0412-0514), Washington, DC 20503...

  9. 7 CFR 54.1034 - OMB control numbers assigned pursuant to the Paperwork Reduction Act.

    Science.gov (United States)

    2010-01-01

    ...) AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing Practices), DEPARTMENT OF AGRICULTURE (CONTINUED) REGULATIONS AND STANDARDS UNDER THE AGRICULTURAL MARKETING ACT OF 1946 AND THE EGG PRODUCTS..., Processing, and Packaging of Livestock and Poultry Products § 54.1034 OMB control numbers assigned pursuant...

  10. Rent distribution effect of a price reduction in the Dutch gas transport market. A scenario analysis of regulatory policy, market form and rent allocation

    International Nuclear Information System (INIS)

    Van Witteloostuijn, A.; Brakman, S.; Van Marrewijk, C.

    2005-09-01

    As part of the larger energy market deregulation program, the Dutch Office of Energy Regulation (DTe) has developed the habit to force the Dutch gas transport enterprise (Gas Transport Services GTS) to lower its prices. In this report, we simulate the welfare effects of a five per cent transport price reduction. DTe's key argument is that lower gas transport prices will benefit the end-user. Indeed, that might well be the case. However, at least three observations complicate matters substantially: Observation 1: government ownership. GTS is government -owned, and the dominant shipper (Gasunie Trade and Supply) is partly so (50 %). Hence, lost revenues from the gas transport business will all emerge at the debit side of the government's budget, and part of the shippers' rent returns in the government's pockets. Observation 2: imperfect competition. Firms enter into the competitive game to make profits. Shippers are not different. So, apart from in the extreme case of perfect competition (or, more generally, perfect contestability), part of the rents will end up in the pockets of the shippers, rather than the endconsumers. Observation 3: rent export. The Netherlands are not an isolated island in the European gas ocean. Not only is the majority of gas transported in the Netherlands exported to foreign end-users, but apart from that have foreign owners a large stake in Dutch shippers. As a result, given the fact that the Dutch industry is not autarktic, part of the rents will always be distributed, or will always 'leak' away, to foreign consumers and shippers (or their shareholders). These three observations together have three important implications. First, state ownership implies that much rent allocation is simply a matter of circulating money from one government sub-budget to the other (Observation 1). Second, given that the industry is imperfectly competitive, part of the rents will not be passed on to the endconsumers (Observation 2). Third, it is unavoidable

  11. Welfare distribution effect of a price reduction in the Dutch gas transport market: A scenario analysis of regulatory policy, market form and rent allocation

    International Nuclear Information System (INIS)

    Van Witteloostuijn, Arjen; Van Marrewijk, Charles

    2007-01-01

    As part of the larger energy market deregulation program, the Dutch energy authority - DTe - has developed the habit to force the Dutch gas transport enterprise - Gas Transport Services, or GTS - to lower its prices. DTe's key argument is that lower gas transport prices will benefit the end-user. Indeed, that might well be the case. This policy, in general, is in line with European legislation on the liberalization of the gas market. We model and simulate the (domestic) welfare effects of a 5 percent transport price reduction. From this, we conclude that at least three observations complicate matters substantially. First, GTS is government-owned, and the dominant shipper - Gasunie Trade and Supply (or GasTerra, as it was recoined recently) - is partly so (50%). Second, shippers enter into the competitive game to make profits. Third, not only is the majority of gas transported in the Netherlands exported to foreign end-users, but also foreign owners have a large stake in Dutch shippers. As a result, part of the rents will always be distributed, or will 'leak' away, to foreign consumers and shippers (or their shareholders). These three observations together have three important implications. First, state ownership implies that much rent allocation is simply a matter of circulating money from one government sub-budget to the other. Second, given that the industry is imperfectly competitive, part of the rents will not be passed on to the end-consumers. Third, it is unavoidable that a substantial part of the rents are transferred abroad. A general conclusion for policy-makers is that market liberalization might not bring ex post what they expected ex ante. (author)

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

    Science.gov (United States)

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

    2012-07-17

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

  13. 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.

  14. Radiation dose reduction at a price: the effectiveness of a male gonadal shield during helical CT scans

    OpenAIRE

    Erdi Yusuf E; Casciotta Kevin A; Dauer Lawrence T; Rothenberg Lawrence N

    2007-01-01

    Abstract Background It is estimated that 60 million computed tomography (CT) scans were performed during 2006, with approximately 11% of those performed on children age 0–15 years. Various types of gonadal shielding have been evaluated for reducing exposure to the gonads. The purpose of this study was to quantify the radiation dose reduction to the gonads and its effect on image quality when a wrap-around male pediatric gonad shield was used during CT scanning. This information is obtained to...

  15. Radiation dose reduction at a price: the effectiveness of a male gonadal shield during helical CT scans

    International Nuclear Information System (INIS)

    Dauer, Lawrence T; Casciotta, Kevin A; Erdi, Yusuf E; Rothenberg, Lawrence N

    2007-01-01

    It is estimated that 60 million computed tomography (CT) scans were performed during 2006, with approximately 11% of those performed on children age 0–15 years. Various types of gonadal shielding have been evaluated for reducing exposure to the gonads. The purpose of this study was to quantify the radiation dose reduction to the gonads and its effect on image quality when a wrap-around male pediatric gonad shield was used during CT scanning. This information is obtained to assist the attending radiologist in the decision to utilize such male gonadal shields in pediatric imaging practice. The dose reduction to the gonads was measured for both direct radiation and for indirect scattered radiation from the abdomen. A 6 cm 3 ion chamber (Model 10X5-6, Radcal Corporation, Monrovia, CA) was placed on a Humanoid real bone pelvic phantom at a position of the male gonads. When exposure measurements with shielding were made, a 1 mm lead wrap-around gonadal shield was placed around the ion chamber sensitive volume. The use of the shields reduced scatter dose to the gonads by a factor of about 2 with no appreciable loss of image quality. The shields reduced the direct beam dose by a factor of about 35 at the expense of extremely poor CT image quality due to severe streak artifacts. Images in the direct exposure case are not useful due to these severe artifacts and the difficulties in positioning these shields on patients in the scatter exposure case may not be warranted by the small absolute reduction in scatter dose unless it is expected that the patient will be subjected to numerous future CT scans

  16. Radiation dose reduction at a price: the effectiveness of a male gonadal shield during helical CT scans.

    Science.gov (United States)

    Dauer, Lawrence T; Casciotta, Kevin A; Erdi, Yusuf E; Rothenberg, Lawrence N

    2007-03-16

    It is estimated that 60 million computed tomography (CT) scans were performed during 2006, with approximately 11% of those performed on children age 0-15 years. Various types of gonadal shielding have been evaluated for reducing exposure to the gonads. The purpose of this study was to quantify the radiation dose reduction to the gonads and its effect on image quality when a wrap-around male pediatric gonad shield was used during CT scanning. This information is obtained to assist the attending radiologist in the decision to utilize such male gonadal shields in pediatric imaging practice. The dose reduction to the gonads was measured for both direct radiation and for indirect scattered radiation from the abdomen. A 6 cm3 ion chamber (Model 10X5-6, Radcal Corporation, Monrovia, CA) was placed on a Humanoid real bone pelvic phantom at a position of the male gonads. When exposure measurements with shielding were made, a 1 mm lead wrap-around gonadal shield was placed around the ion chamber sensitive volume. The use of the shields reduced scatter dose to the gonads by a factor of about 2 with no appreciable loss of image quality. The shields reduced the direct beam dose by a factor of about 35 at the expense of extremely poor CT image quality due to severe streak artifacts. Images in the direct exposure case are not useful due to these severe artifacts and the difficulties in positioning these shields on patients in the scatter exposure case may not be warranted by the small absolute reduction in scatter dose unless it is expected that the patient will be subjected to numerous future CT scans.

  17. Radiation dose reduction at a price: the effectiveness of a male gonadal shield during helical CT scans

    Directory of Open Access Journals (Sweden)

    Erdi Yusuf E

    2007-03-01

    Full Text Available Abstract Background It is estimated that 60 million computed tomography (CT scans were performed during 2006, with approximately 11% of those performed on children age 0–15 years. Various types of gonadal shielding have been evaluated for reducing exposure to the gonads. The purpose of this study was to quantify the radiation dose reduction to the gonads and its effect on image quality when a wrap-around male pediatric gonad shield was used during CT scanning. This information is obtained to assist the attending radiologist in the decision to utilize such male gonadal shields in pediatric imaging practice. Methods The dose reduction to the gonads was measured for both direct radiation and for indirect scattered radiation from the abdomen. A 6 cm3 ion chamber (Model 10X5-6, Radcal Corporation, Monrovia, CA was placed on a Humanoid real bone pelvic phantom at a position of the male gonads. When exposure measurements with shielding were made, a 1 mm lead wrap-around gonadal shield was placed around the ion chamber sensitive volume. Results The use of the shields reduced scatter dose to the gonads by a factor of about 2 with no appreciable loss of image quality. The shields reduced the direct beam dose by a factor of about 35 at the expense of extremely poor CT image quality due to severe streak artifacts. Conclusion Images in the direct exposure case are not useful due to these severe artifacts and the difficulties in positioning these shields on patients in the scatter exposure case may not be warranted by the small absolute reduction in scatter dose unless it is expected that the patient will be subjected to numerous future CT scans.

  18. The Energy Policy Act of 1992 and reductions in greenhouse gas emissions: The petroleum industry perspective

    International Nuclear Information System (INIS)

    Baer, M.T.

    1994-01-01

    The Energy Policy Act of 1992 (EPAct) directs the US Department of Energy policies, programs and regulations to stabilize and reduce the quantities of greenhouse gas emissions. These objectives will be accomplished through the regulation of sources associated with the production, transportation/distribution, and end-use of energy resources. Almost all of the 30 titles of the Act affect these sources: from the energy efficiency provisions of Titles 1 and XXI to the alternative fuels and vehicles programs of Titles 3 through 5; from the global climate change requirements of Title XVI to the petroleum alternative research programs of Titles VI, XII, XIII, XX, and XXI; and from the multiple titles pertaining to the development and regulation of nuclear facilities, supplies, and waste. The goals of the law are to: (1) reduce the use of oil in the domestic energy mix from 40% in 1990 to 35% by the year 2005, (2) require the use of alternative fuels and alternative fuel vehicles in designated fleets, (3) replace up to 30% of motor fuels with ''replacement fuels'' by the year 2010, (4) increase the overall efficiency of consumer, residential, and commercial products, (5) reduce and stabilize the emissions of greenhouse gases, and (6) encourage the development and commercialization of renewable and non petroleum energy resources. All these goals are intended to reduce the emissions of greenhouse gases as well. The EPAct's potential to impact all forms of energy and all energy producers and suppliers is obvious and substantial. This paper assesses three goals of the EPAct, now under study by the petroleum industry, that will affect the production, supply, composition, and use of petroleum products, most notably gasoline and natural gas

  19. Pricing, Carbon Emission Reduction, Low-Carbon Promotion and Returning Decision in a Closed-Loop Supply Chain under Vertical and Horizontal Cooperation

    Directory of Open Access Journals (Sweden)

    Hui Li

    2017-11-01

    Full Text Available In this paper, we examine the influences of vertical and horizontal cooperation models on the optimal decisions and performance of a low-carbon closed-loop supply chain (CLSC with a manufacturer and two retailers, and study optimal operation in the competitive pricing, competitive the low-carbon promotion, the carbon emission reduction, the used-products collection and the profits. We consider the completely decentralized model, M-R vertical cooperation model, R-R horizontal cooperation model, M-R-R vertical and horizontal cooperation model and completely centralized model, and also identify the optimal decision results and profits. It can be observed from a systematic comparison and numerical analysis that the completely centralized model is best in all optimal decision results among all models. In semi-cooperation, the M-R vertical cooperation model is positive, the R-R horizontal cooperation model is passive, and the positivity of the M-R-R vertical and horizontal cooperation model decreases with competitive intensity increasing in the used-products returning, carbon emissions reduction level, low-carbon promotion effort and the profits of the manufacturer and the entire supply chain.

  20. Pricing, Carbon Emission Reduction, Low-Carbon Promotion and Returning Decision in a Closed-Loop Supply Chain under Vertical and Horizontal Cooperation

    Science.gov (United States)

    Li, Hui; Wang, Chuanxu; Shang, Meng; Ou, Wei

    2017-01-01

    In this paper, we examine the influences of vertical and horizontal cooperation models on the optimal decisions and performance of a low-carbon closed-loop supply chain (CLSC) with a manufacturer and two retailers, and study optimal operation in the competitive pricing, competitive the low-carbon promotion, the carbon emission reduction, the used-products collection and the profits. We consider the completely decentralized model, M-R vertical cooperation model, R-R horizontal cooperation model, M-R-R vertical and horizontal cooperation model and completely centralized model, and also identify the optimal decision results and profits. It can be observed from a systematic comparison and numerical analysis that the completely centralized model is best in all optimal decision results among all models. In semi-cooperation, the M-R vertical cooperation model is positive, the R-R horizontal cooperation model is passive, and the positivity of the M-R-R vertical and horizontal cooperation model decreases with competitive intensity increasing in the used-products returning, carbon emissions reduction level, low-carbon promotion effort and the profits of the manufacturer and the entire supply chain. PMID:29104268

  1. Pricing, Carbon Emission Reduction, Low-Carbon Promotion and Returning Decision in a Closed-Loop Supply Chain under Vertical and Horizontal Cooperation.

    Science.gov (United States)

    Li, Hui; Wang, Chuanxu; Shang, Meng; Ou, Wei

    2017-11-01

    In this paper, we examine the influences of vertical and horizontal cooperation models on the optimal decisions and performance of a low-carbon closed-loop supply chain (CLSC) with a manufacturer and two retailers, and study optimal operation in the competitive pricing, competitive the low-carbon promotion, the carbon emission reduction, the used-products collection and the profits. We consider the completely decentralized model, M-R vertical cooperation model, R-R horizontal cooperation model, M-R-R vertical and horizontal cooperation model and completely centralized model, and also identify the optimal decision results and profits. It can be observed from a systematic comparison and numerical analysis that the completely centralized model is best in all optimal decision results among all models. In semi-cooperation, the M-R vertical cooperation model is positive, the R-R horizontal cooperation model is passive, and the positivity of the M-R-R vertical and horizontal cooperation model decreases with competitive intensity increasing in the used-products returning, carbon emissions reduction level, low-carbon promotion effort and the profits of the manufacturer and the entire supply chain.

  2. 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...

  3. 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...

  4. Recovery Act: SeaMicro Volume Server Power Reduction Research Development

    Energy Technology Data Exchange (ETDEWEB)

    Gary Lauterbach

    2012-03-22

    Cloud data centers are projected to be the fastest growing segment of the server market through 2015, according to IDC. Increasingly people and businesses rely on the Cloud to deliver digital content quickly and efficiently. Recovery Act funding from the Department of Energy has helped SeaMicro's technologies enhance the total cost of operation, performance and energy efficiency in large data center and Cloud environments. SeaMicro's innovative supercomputer fabric connects thousands of processor cores, memory, storage and input/output traffic. The company's fabric supports multiple processor instruction sets. Current systems featuring SeaMicro technology typically use one quarter the power and take one sixth the space of traditional servers with the same compute performance, yet deliver up to 12 times the bandwidth per core. Mozilla and eHarmony are two customers successfully using SeaMicro's technology. Numerous non-public customers have been successfully using the SeaMicro product in test and production facilities. As a result of the Recovery Act funding from the U.S. Department of Energy, more than 50 direct jobs were created at SeaMicro. To date, they primarily have been high-value, engineering jobs. Hardware, software and manufacturing engineering positions have been created, as well as sales and sales engineering. The positions have allowed SeaMicro to significantly accelerate engineering development and accelerate commercialization. As a result, commercialization and delivery to market are months ahead of initial schedule. Additional jobs were indirectly created through the development of the SeaMicro product. Through many years of research and hard work prior to receipt of public funding, SeaMicro was awarded 2 patents for its work. SeaMicro's product led the way for industry leaders to reconsider the market for low power servers and create new product lines. With valuable support of the U.S. Department of Energy and through Sea

  5. 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...

  6. Tuition reduction is the key factor determining tax burden of graduate students under the Tax Cuts and Job Act.

    Science.gov (United States)

    Lawston, Patricia M; Parker, Michael T

    2017-01-01

    Background : The proposed Tax Cuts and Jobs Act (H.R.1) has stirred significant public debate on the future of American economics.  While supporters of the plan have championed it as a necessity for economic revitalization, detractors have pointed out areas of serious concern, particularly for low- and middle-income Americans.  One particularly alarming facet of the plan is the radical change to education finance programs and taxation of students in higher education.  Methods :  By analyzing actual income and tuition of a public and a private university student, as well as the 'average' graduate student, we investigated the effect of both the House and Senate versions of H.R. 1 on taxation of students of various family structures.  Results :  Our findings indicate that taxable tuition would be the greatest contributor to graduate student tax burden across all four categories of filing status.  However, when tuition reduction is upheld or a student is on sustaining fees rather than full tuition, graduate students would realize decreases in taxation. Conclusions :  Overall, we conclude that removal of tuition reduction would result in enormous tax burdens for graduate students and their families and that these effects are dependent not only on the status of the student in their degree program but also on their tuition and stipend, and therefore the institution they attend.

  7. 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...

  8. Welfare distribution effect of a price reduction in the Dutch gas transport market: A scenario analysis of regulatory policy, market form and rent allocation

    NARCIS (Netherlands)

    A. Witteloostuijn, van (Arjen); S. Brakman (Steven); J.G.M. van Marrewijk (Charles)

    2007-01-01

    textabstractAs part of the larger energy market deregulation program, the Dutch energy authority—DTe—has developed the habit to force the Dutch gas transport enterprise—Gas Transport Services, or GTS—to lower its prices. DTe's key argument is that lower gas transport prices will benefit the

  9. Welfare distribution effect of a price reduction in the Dutch gas transport market: A scenario analysis of regulatory policy, market form and rent allocation

    NARCIS (Netherlands)

    Witteloostuijn , van Arjen; Brakman, S.; van Marrewijk, C.

    2007-01-01

    As part of the larger energy market deregulation program, the Dutch energy authority-DTe-has developed the habit to force the Dutch gas transport enterprise-Gas Transport Services, or GTS-to lower its prices. DTe's key argument is that lower gas transport prices will benefit the end-user. Indeed,

  10. 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...

  11. 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.

  12. Impact of the Pharma Economic Act on Diffusion of Innovation and Reduction of Costs in the Hungarian Prescription Drug Market (2007-2010).

    Science.gov (United States)

    Hren, Rok

    In this study, we examined the impact of the Pharma Economic Act, which was introduced in Hungary in 2007. We used detailed data on the Hungarian prescription drug market, which had been made publicly available by the authorities. We evaluated the effect of the Pharma Economic Act on both dynamic and static efficiencies and also on equity, which has been historically a controversial issue in Hungary. We analyzed the overall prescription drug market and statin and atorvastatin markets; as a proxy for determining dynamic efficiency, we examined the oncology drug market for some specific products (e.g., bortezomib) and the long-acting atypical antipsychotic drugs market. There is no denying that the authorities managed to control the overall prescription drug costs; however, they were still paying excessive rents for off-patent drugs. Examples of oncology and long-acting atypical antipsychotic drugs showed that the diffusion of innovation was on per-capita basis at least comparable to G-5 countries. While the share of out-of-pocket co-payments markedly increased and the reimbursement was lowered, the concurrent price decreases often meant that the co-payment per milligram of a given dispensed drug was actually lower than that before the Act, thereby benefiting the patient. It appears that strong mechanisms to control volume rather than price on the supply side (marketing authorization holders) contained the drug expenditure, while offering enough room to strive for innovation. Making data on prescription drug expenditures and associated co-payments publicly available is an item that should be definitely followed by the surrounding jurisdictions. Copyright © 2013, International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc.

  13. World coal prices and future energy demand

    International Nuclear Information System (INIS)

    Bennett, J.

    1992-01-01

    The Clean Air Act Amendments will create some important changes in the US domestic steam coal market, including price increases for compliance coal by the year 2000 and price decreases for high-sulfur coal. In the international market, there is likely to be a continuing oversupply which will put a damper on price increases. The paper examines several forecasts for domestic and international coal prices and notes a range of predictions for future oil prices

  14. 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

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

    Science.gov (United States)

    Puig-Junoy, Jaume

    2010-01-01

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

  16. 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...

  17. Future prices and market for SO2 allowances

    International Nuclear Information System (INIS)

    Sanghi, A.; Joseph, A.; Michael, K.; Munro, W.; Wang, J.

    1993-01-01

    The expected price of SO 2 emission allowances is an important issue in energy and integrated resource planning activities. For example, the expected price of SO 2 allowances in needed in order to evaluate alternative strategies for meeting SO 2 provisions of the Clean Air Act Amendments of 1990. In addition, the expected SO 2 allowance price is important to state public utility regulators who must provide guidance on rate-making issues regarding utility compliance plans which involve allowance trading and direct investment of SO 2 control technologies. Last but not the least, the expected SO 2 allowance price is an important determinant of the future market for natural gas and low sulfur coal. The paper develops estimates of SO 2 allowance prices over time by constructing national supply and demand curves for SO 2 reductions. Both the supply and demand for SO 2 reductions are based on an analysis of the sulfur content of fuels burned in 1990 by utilities throughout the United States; and on assumptions about plant retirements, the rate of new capacity growth, the types of new and replacement plants constructed, the costs of SO 2 reduction measures and legislation by midwest states to maintain the use of high sulfur coal to protect local jobs. The paper shows that SO 2 allowance prices will peak around the year 2000 at about $500 per ton, and will eventually fall to zero by about the year 2020. A sensitivity analysis indicates that the price of SO 2 allowances is relatively insensitive to assumptions regarding the availability of natural gas or energy demand growth. However, SO 2 allowance prices tend to be quite sensitive to assumptions regarding regulations which may force early retirement of existing power plants and possible legislation which may reduce CO 2 emissions

  18. S. 446: This Act may be cited as the Price-Anderson Financial Accountability Amendments of 1989, introduced in the Senate, One Hundred First Congress, First Session, February 23, 1989

    International Nuclear Information System (INIS)

    Anon.

    1989-01-01

    S. 446 would amend the Price-Anderson provisions of the Atomic Energy Act of 1954 to provide for the financial accountability of certain contractors of the Department of Energy. The bill would allow the Attorney General to bring action in court to recover any amount paid by the Federal Government to a contractor for public liability resulting from gross negligence or willful misconduct of such contractor (or subcontractor or supplier of such contractor). The amount recoverable would not exceed the total contract price received by the contractor. The President may exempt a contractor from some provisions if he determines it is necessary to protect the national security. Renegotiation of contracts is allowed. The amendments would take effect one year after the date of enactment of this law

  19. Medicaid's Role in Financing Health Care for Children with Behavioral Health Care Needs in the Special Education System: Implications of the Deficit Reduction Act

    Science.gov (United States)

    Mandell, David S.; Machefsky, Aliza; Rubin, David; Feudtner, Chris; Pita, Susmita; Rosenbaum, Sara

    2008-01-01

    Background: Recent changes to Medicaid policy may have unintended consequences in the education system. This study estimated the potential financial impact of the Deficit Reduction Act (DRA) on school districts by calculating Medicaid-reimbursed behavioral health care expenditures for school-aged children in general and children in special…

  20. 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.

  1. 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...

  2. 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.)

  3. 39 CFR 551.6 - Pricing.

    Science.gov (United States)

    2010-07-01

    ... 39 Postal Service 1 2010-07-01 2010-07-01 false Pricing. 551.6 Section 551.6 Postal Service UNITED STATES POSTAL SERVICE POSTAGE PROGRAMS SEMIPOSTAL STAMP PROGRAM § 551.6 Pricing. (a) The Semipostal Authorization Act, as amended by Public Law 107-67, section 652, 115 Stat. 514 (2001), prescribes that the price...

  4. 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

  5. Price increase

    CERN Multimedia

    2006-01-01

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

  6. 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.

  7. 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)

  8. 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

  9. 18 CFR 2.17 - Price discrimination and anticompetitive effect (price squeeze issue).

    Science.gov (United States)

    2010-04-01

    ... INTERPRETATIONS Statements of General Policy and Interpretations Under the Federal Power Act § 2.17 Price... 18 Conservation of Power and Water Resources 1 2010-04-01 2010-04-01 false Price discrimination and anticompetitive effect (price squeeze issue). 2.17 Section 2.17 Conservation of Power and Water...

  10. Urban partnership agreement and congestion reduction demonstration programs : lessons learned on congestion pricing from the Seattle and Atlanta household travel behavior surveys.

    Science.gov (United States)

    2014-04-01

    This paper presents lessons learned from household traveler surveys administered in Seattle and Atlanta as part of the evaluation of the Urban Partnership Agreement and Congestion Reduction Demonstration Programs. The surveys use a two-stage panel su...

  11. 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

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

    International Nuclear Information System (INIS)

    Gately, D.

    1992-01-01

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

  13. 48 CFR 252.215-7000 - Pricing adjustments.

    Science.gov (United States)

    2010-10-01

    ... clauses entitled “Price Reduction for Defective Cost or Pricing Data—Modifications,” “Subcontractor Cost or Pricing Data,” and “Subcontractor Cost or Pricing Data—Modifications,” means the aggregate increases and/or decreases in cost plus applicable profits. (End of clause) [56 FR 36479, July 31, 1991, as...

  14. H.R. 3653: a bill to amend the Price-Anderson provisions of the Atomic Energy Act of 1954 to extend and improve procedures for liability and indemnification for nuclear incidents. Introduced in the House of Representatives, Ninety-Ninth Congress, Second Session, October 30, 1985

    International Nuclear Information System (INIS)

    Anon.

    1986-01-01

    The Price-Anderson Amendments Act of 1986 amends provisions of the Atomic Energy Act of 1954 in order to improve the liability and indemnification procedures for nuclear incidents. The bill places the primary financial responsibility for protection on large electrical generating facilities, with a limit of $200 million. The bill also makes changes in premium, borrowing authority, and indemnification agreements for licensing. Other changes include defense waivers and judicial reviews

  15. Did the expiration of retail price caps affect prices in the restructured Texas electricity market?

    International Nuclear Information System (INIS)

    Kang, Linhong; Zarnikau, Jay

    2009-01-01

    On January 1, 2007, the Electric Reliability Council of Texas (ERCOT) market became the first restructured market in the US to completely remove caps on the prices which could be charged to residential energy consumers by the retailers associated with the traditional or incumbent utility service providers. Our analysis suggests that the expiration of the price-to-beat (PTB) price caps may have led to a reduction in the average prices charged by competitive retail electric providers (REPs). (author)

  16. The Prison Economy of Needles and Syringes: What Opportunities Exist for Blood Borne Virus Risk Reduction When Prices Are so High?

    Directory of Open Access Journals (Sweden)

    Carla Treloar

    Full Text Available A formal Needle and Syringe Program (NSP is not provided in Australian prisons. Injecting equipment circulates in prisons as part of an informal and illegal economy. This paper examined how this economy generates blood-borne virus (BBV risk and risk mitigation opportunities for inmates.The HITS-p cohort recruited New South Wales inmates who had reported ever injecting drugs and who had a negative HCV serological test within 12 months prior to enrolment. For this study, qualitative interviews were conducted with 30 participants enrolled in HITS-p. Participants included 10 women and were incarcerated in 12 prisons.A needle/syringe was nominated as being typically priced in the 'inside' prison economy at $100-$150, with a range of $50-$350. Purchase or hire of equipment was paid for in cash (including transactions that occurred outside prison and in exchange for drugs and other commodities. A range of other resources was required to enable successful needle/syringe economies, especially relationships with visitors and other prisoners, and violence to ensure payment of debts. Strategies to mitigate BBV risk included retaining one needle/syringe for personal use while hiring out others, keeping drug use (and ownership of equipment "quiet", stealing used equipment from the prison health clinic, and manufacture of syringes from other items available in the prison.The provision of prison NSP would disrupt the inside economies built around contraband needles/syringes, as well as minimise BBV risk. However, any model of prison NSP should be interrogated for any unanticipated markets that could be generated as a result of its regulatory practices.

  17. The Prison Economy of Needles and Syringes: What Opportunities Exist for Blood Borne Virus Risk Reduction When Prices Are so High?

    Science.gov (United States)

    Treloar, Carla; McCredie, Luke; Lloyd, Andrew R

    2016-01-01

    A formal Needle and Syringe Program (NSP) is not provided in Australian prisons. Injecting equipment circulates in prisons as part of an informal and illegal economy. This paper examined how this economy generates blood-borne virus (BBV) risk and risk mitigation opportunities for inmates. The HITS-p cohort recruited New South Wales inmates who had reported ever injecting drugs and who had a negative HCV serological test within 12 months prior to enrolment. For this study, qualitative interviews were conducted with 30 participants enrolled in HITS-p. Participants included 10 women and were incarcerated in 12 prisons. A needle/syringe was nominated as being typically priced in the 'inside' prison economy at $100-$150, with a range of $50-$350. Purchase or hire of equipment was paid for in cash (including transactions that occurred outside prison) and in exchange for drugs and other commodities. A range of other resources was required to enable successful needle/syringe economies, especially relationships with visitors and other prisoners, and violence to ensure payment of debts. Strategies to mitigate BBV risk included retaining one needle/syringe for personal use while hiring out others, keeping drug use (and ownership of equipment) "quiet", stealing used equipment from the prison health clinic, and manufacture of syringes from other items available in the prison. The provision of prison NSP would disrupt the inside economies built around contraband needles/syringes, as well as minimise BBV risk. However, any model of prison NSP should be interrogated for any unanticipated markets that could be generated as a result of its regulatory practices.

  18. Rhodium-Coordinated Poly(arylene-ethynylene)-alt-Poly(arylene-vinylene) Copolymer Acting as Photocatalyst for Visible-Light-Powered NAD+/NADH Reduction

    Science.gov (United States)

    2014-01-01

    A 2,2′-bipyridyl-containing poly(arylene-ethynylene)-alt-poly(arylene-vinylene) polymer, acting as a light-harvesting ligand system, was synthesized and coupled to an organometallic rhodium complex designed for photocatalytic NAD+/NADH reduction. The material, which absorbs over a wide spectral range, was characterized by using various analytical techniques, confirming its chemical structure and properties. The dielectric function of the material was determined from spectroscopic ellipsometry measurements. Photocatalytic reduction of nucleotide redox cofactors under visible light irradiation (390–650 nm) was performed and is discussed in detail. The new metal-containing polymer can be used to cover large surface areas (e.g. glass beads) and, due to this immobilization step, can be easily separated from the reaction solution after photolysis. Because of its high stability, the polymer-based catalyst system can be repeatedly used under different reaction conditions for (photo)chemical reduction of NAD+. With this concept, enzymatic, photo-biocatalytic systems for solar energy conversion can be facilitated, and the precious metal catalyst can be recycled. PMID:25130570

  19. Security Price Informativeness with Delegated Traders

    OpenAIRE

    Gary Gorton; Ping He; Lixin Huang

    2010-01-01

    Trade in securities markets is conducted by agents acting for principals, using "mark-to-market" contracts whereby performance is assessed using security market prices. We endogenize contract choices, information production, informed trading, and security price informativeness. But there is a contract externality. Prices are informative only because other principals induce their agents to trade based on privately produced information. The agent-traders then have an incentive to coordinate and...

  20. Price formation and market mechanisms

    International Nuclear Information System (INIS)

    Neff, T.L.

    1991-01-01

    World markets for nuclear fuel have changed greatly since the 1970s. In earlier days, firms specializing in mining, conversion, enrichment and fabrication negotiated directly with end users, primarily under long term contracts at specified prices. This old model is gone. Market structure has been transformed: traditional suppliers now compete with traders, some of whom can offer a much larger menu of products and terms than primary suppliers. Utilities act as traders, converters as brokers, brokers as traders, producers as buyers, and so on. De-enrichment, de-conversion, loans, swaps, interchanges and other new kinds of transactions have proliferated. These changes in market structure and market mechanisms have been accompanied by substantial changes in price formation, that is the process by which market price is set. Today, the level and direction of price are set in a trading dominated spot market environment, fuelled by inventory liquidation and Soviet and other non-traditional supply. (author)

  1. The fixing of prices by the oil companies during the Gulf war

    International Nuclear Information System (INIS)

    1991-01-01

    Developments in the global oil market and changes in the structure of the Danish market during the nineteen eighties are described. Price notation on world market spot markets had a significant influence on the fixing of prices in the consumer countries. The influence of the OPEC lands has been reduced. One must note the over-capacity which followed the two oil crises. On the Danish market many of the larger international companies have withdrawn from the scene. Reduction in the number of independent Danish oil companies continues. These factors have led to increased market concentration. Denmark's recovery of oil covers 70% of domestic consumption. It is evaluated whether oil companies have taken advantage of the Gulf War for monetary gain and whether they have changed their buying practices in order to take advantage of holding less stock. It was found that companies are very quick to follow Rotterdam prices (three days) and that more price reductions are given than before the Gulf War. Danish prices are quick to follow the rises and falls in the European market and did not differ much from the European ones during 1990. Only raw oil producers seem to have gained economically from the Gulf War, but this is not judged as speculation. Refinery and import companies have acted in a similar way to each other and have not seemed to decease their stock after the Gulf War in order to buy at a lower price. (AB)

  2. Saving-Based Asset Pricing

    DEFF Research Database (Denmark)

    Dreyer, Johannes Kabderian; Schneider, Johannes; T. Smith, William

    2013-01-01

    This paper explores the implications of a novel class of preferences for the behavior of asset prices. Following a suggestion by Marshall (1920), we entertain the possibility that people derive utility not only from consumption, but also from the very act of saving. These ‘‘saving-based’’ prefere...

  3. Excessive prices as abuse of dominance?

    DEFF Research Database (Denmark)

    la Cour, Lisbeth; Møllgaard, Peter

    2007-01-01

    firm abused its position by charging excessive prices. We also test whether tightening of the Danish competition act has altered the pricing behaviour on the market. We discuss our results in the light of a Danish competition case against the dominant cement producer that was abandoned by the authority...

  4. Pricing structures in US coal supply contracts

    Science.gov (United States)

    Kacker, Kanishka

    The subject of my dissertation is the study of coal procurement by electric utilities in the US over 2 decades, from 1979 to 2000. Energy markets are typically characterized by severe contracting problems. Buyers and sellers therefore employ various instruments, such as contract length or complex pricing arrangements, to restrict these problems. Relationship specific investment, wherein buyers make investments specific to their suppliers, has been advanced as a prominent explanation for contractual length. Investment decisions are however endogenous in length or pricing, making causal identification of the role of investment specificity difficult. In my first chapter, I attempt a resolution. I use the 1990 Clean Air Act Amendment as an exogenous shifter of the extent of relationship specific investment. A key feature of the Amendment's design helps me define a difference-in-difference model arguably free of the endogeneity issues discussed above. I find that the plants forced into switching - Phase I plants located in the US Midwest - are more likely to choose fixed price contracts than those that were not. Further they also write contracts of shorter terms, with the reduction being approximately 30%. Considerably little is known about the performance implications of contractual choices. These form the basis for Chapter 2. Here I find prices to be lower, by between 5% to 20% of the total transaction price, but the probability of renegotiation higher, under fixed price contracts than under escalator or cost-plus contracts. Contract choices appear consistent with a trade-off between establishing incentives ex-ante and lowering negotiation costs ex-post, with relationship specific investments in particular making such a trade-off compelling. Chapter 3 considers the regulatory environment these utilities were subject to. Both incentive based regulation as well as the restructuring of electricity generation are smaller in comparison to relationship specific investment

  5. Electricity price, energy production and emissions impact : evaluating proposed GHG emission reduction frameworks for the Alberta electricity industry : updated reference case and sensitivity results prepared for CASA EPT Greenhouse Gas Allocation Subgroup

    International Nuclear Information System (INIS)

    2004-01-01

    This document presents the results of a study which quantified the potential impact of various greenhouse gas (GHG) policy scenarios on Alberta generators' energy production, airborne emissions and electricity wholesale market price. The study examined proactive policy frameworks compared to business as usual scenarios. A reference case scenario was included to represent the status quo environment where electricity demand continues on its current path. Five additional sensitivity cases were examined, of which 3 evaluated the impact of many key assumptions regarding progressive GHG reduction levels and costs related to meeting GHG requirements. The other two evaluated an all-coal future electricity supply both with and without GHG emission reduction costs. Environmental costs were also evaluated in terms of emissions of nitrous oxides, sulphurous oxides, mercury and particulate matter. The impact of generation retirement and renewable energy source development was also analyzed. Demand and supply forecasts for oil, natural gas, electric energy and energy sales were presented along with generation supply forecasts for the reference case scenario, coal generation and natural gas fired retirements. refs., tabs., figs

  6. The value of price transparency in residential solar photovoltaic markets

    Energy Technology Data Exchange (ETDEWEB)

    O’Shaughnessy, Eric; Margolis, Robert

    2018-06-01

    Installed prices for residential solar photovoltaic (PV) systems have declined significantly in recent years. However price dispersion and limited customer access to PV quotes prevents some prospective customers from obtaining low price offers. This study shows that improved customer access to prices - also known as price transparency - is a potential policy lever for further PV price reductions. We use customer search and strategic pricing theory to show that PV installation companies face incentives to offer lower prices in markets with more price transparency. We test this theoretical framework using a unique residential PV quote dataset. Our results show that installers offer lower prices to customers that are expected to receive more quotes. Our study provides a rationale for policies to improve price transparency in residential PV markets.

  7. 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

  8. 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.

  9. Tuition reduction is the key factor determining tax burden of graduate students under the Tax Cuts and Job Act [version 2; referees: 2 approved

    Directory of Open Access Journals (Sweden)

    Patricia M. Lawston

    2018-02-01

    Full Text Available Background: The proposed Tax Cuts and Jobs Act (H.R.1 has stirred significant public debate on the future of American economics.  While supporters of the plan have championed it as a necessity for economic revitalization, detractors have pointed out areas of serious concern, particularly for low- and middle-income Americans.  One particularly alarming facet of the plan is the radical change to education finance programs and taxation of students in higher education.  Methods:  By analyzing actual income and tuition of a public and a private university student, as well as the ‘average’ graduate student, we investigated the effect of both the House and Senate versions of H.R. 1 on taxation of students of various family structures.  Results:  Our findings indicate that taxable tuition would be the greatest contributor to graduate student tax burden across all four categories of filing status.  However, when tuition reduction is upheld or a student is on sustaining fees rather than full tuition, graduate students would realize decreases in taxation. Conclusions:  Overall, we conclude that removal of tuition reduction would result in enormous tax burdens for graduate students and their families and that these effects are dependent not only on the status of the student in their degree program but also on their tuition and stipend, and therefore the institution they attend.

  10. Real-time Pricing in Power Markets

    DEFF Research Database (Denmark)

    Boom, Anette; Schwenen, Sebastian

    We examine welfare e ects of real-time pricing in electricity markets. Before stochastic energy demand is known, competitive retailers contract with nal consumers who exogenously do not have real-time meters. After demand is realized, two electricity generators compete in a uniform price auction...... to satisfy demand from retailers acting on behalf of subscribed customers and from consumers with real-time meters. Increasing the number of consumers on real-time pricing does not always increase welfare since risk-averse consumers dislike uncertain and high prices arising through market power...

  11. Real-time Pricing in Power Markets

    DEFF Research Database (Denmark)

    Boom, Anette; Schwenen, Sebastian

    We examine welfare eects of real-time pricing in electricity markets. Before stochastic energy demand is known, competitive retailers contract with nal consumers who exogenously do not have real-time meters. After demand is realized, two electricity generators compete in a uniform price auction...... to satisfy demand from retailers acting on behalf of subscribed customers and from consumers with real-time meters. Increasing the number of consumers on real-time pricing does not always increase welfare since risk-averse consumers dislike uncertain and high prices arising through market power...

  12. 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)

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

    DEFF Research Database (Denmark)

    Kaiser, Ulrich; Mendez, Susan J.

    (where they are based on the cheapest domestic substitute). We analyze three therapeutic classes with different treatment durations and show that the reform led to substantial price decreases for our lifelong treatment and to less substantial price reductions for our medium duration treatment while we do......We study the effects of a change in the way patient reimbursements are calculated on the prices of pharmaceuticals using quasi-experimental data for Denmark which switched from external (where reimbursements are based on prices of similar products in foreign countries) to internal reference pricing...

  14. Price and consumption of tobacco

    Directory of Open Access Journals (Sweden)

    Virendra Singh

    2012-01-01

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

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

    International Nuclear Information System (INIS)

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

    2015-01-01

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

  16. Oil prices and long-run risk

    Science.gov (United States)

    Ready, Robert Clayton

    I show that relative levels of aggregate consumption and personal oil consumption provide an excellent proxy for oil prices, and that high oil prices predict low future aggregate consumption growth. Motivated by these facts, I add an oil consumption good to the long-run risk model of Bansal and Yaron [2004] to study the asset pricing implications of observed changes in the dynamic interaction of consumption and oil prices. Empirically I observe that, compared to the first half of my 1987--2010 sample, oil consumption growth in the last 10 years is unresponsive to levels of oil prices, creating an decrease in the mean-reversion of oil prices, and an increase in the persistence of oil price shocks. The model implies that the change in the dynamics of oil consumption generates increased systematic risk from oil price shocks due to their increased persistence. However, persistent oil prices also act as a counterweight for shocks to expected consumption growth, with high expected growth creating high expectations of future oil prices which in turn slow down growth. The combined effect is to reduce overall consumption risk and lower the equity premium. The model also predicts that these changes affect the riskiness of of oil futures contracts, and combine to create a hump shaped term structure of oil futures, consistent with recent data.

  17. 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...

  18. 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...

  19. Medicaid’s Role in Financing Health Care for Children With Behavioral Health Care Needs in the Special Education System: Implications of the Deficit Reduction Act

    Science.gov (United States)

    Mandell, David S.; Machefsky, Aliza; Rubin, David; Feudtner, Chris; Pita, Susmita; Rosenbaum, Sara

    2010-01-01

    BACKGROUND Recent changes to Medicaid policy may have unintended consequences in the education system. This study estimated the potential financial impact of the Deficit Reduction Act (DRA) on school districts by calculating Medicaid-reimbursed behavioral health care expenditures for school-aged children in general and children in special education in particular. METHODS Medicaid claims and special education records of youth ages 6 to 18 years in Philadelphia, PA, were merged for calendar year 2002. Behavioral health care volume, type, and expenditures were compared between Medicaid-enrolled children receiving and not receiving special education. RESULTS Significant overlap existed among the 126,533 children who were either Medicaid enrolled (114,257) or received special education (27,620). Medicaid-reimbursed behavioral health care was used by 21% of children receiving special education (37% of those Medicaid enrolled) and 15% of other Medicaid-enrolled children. Total expenditures were $197.8 million, 40% of which was spent on the 5728 children in special education and 60% of which was spent on 15,092 other children. CONCLUSIONS Medicaid-reimbursed behavioral health services disproportionately support special education students, with expenditures equivalent to 4% of Philadelphia’s $2 billion education budget. The results suggest that special education programs depend on Medicaid-reimbursed services, the financing of which the DRA may jeopardize. PMID:18808472

  20. PF-05231023, a long-acting FGF21 analogue, decreases body weight by reduction of food intake in non-human primates.

    Science.gov (United States)

    Thompson, W Clayton; Zhou, Yingjiang; Talukdar, Saswata; Musante, Cynthia J

    2016-08-01

    PF-05231023, a long-acting FGF21 analogue, is a promising potential pharmacotherapy for the treatment of obesity and associated comorbidities. Previous studies have shown the potential of FGF21 and FGF21-like compounds to decrease body weight in mice, non-human primates, and humans; the precise mechanisms of action remain unclear. In particular, there have been conflicting reports on the degree to which FGF21-induced weight loss in non-human primates is attributable to a decrease in food intake versus an increase in energy expenditure. Here, we present a semi-mechanistic mathematical model of energy balance and body composition developed from similar work in mice. This model links PF-05231023 administration and washout to changes in food intake, which in turn drives changes in body weight. The model is calibrated to and compared with recently published data from cynomolgus macaques treated with PF-05231023, demonstrating its accuracy in describing pharmacotherapy-induced weight loss in these animals. The results are consistent with the hypothesis that PF-05231023 decreases body weight in cynomolgus macaques solely by a reduction in food intake, with no direct effect on energy expenditure.

  1. 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.

  2. Pricing of natural gas in Kazakhstan

    International Nuclear Information System (INIS)

    Zhapargaliev, I.K.

    1996-01-01

    Two state companies are in charge of natural gas supply in Kazakhstan. They buy, transport and sell natural gas and have monopolized the industry and provoked increase of gas prices. Ministry of Oil and gas Industry proposed demonopolization. The restructuring that took place caused new distribution of tasks in the gas industry. A more competitive environment was created leading to normalization of the natural gas prices. All economic subjects were granted the right to acquire gas regardless the type of ownership. Measures implemented for reorganization of gas companies contributed to the reduction of gas transport costs and prices by 50% and to decrease of gas prices in the southern regions by 50%. Despite these measures gas prices for household sector are still unchanged and are below the import prices, the main reason being the low average household income

  3. A Case Study of Pharmaceutical Pricing in China: Setting the Price for Off-Patent Originators.

    Science.gov (United States)

    Hu, Shanlian; Zhang, Yabing; He, Jiangjiang; Du, Lixia; Xu, Mingfei; Xie, Chunyan; Peng, Ying; Wang, Linan

    2015-08-01

    This article aims to define a value-based approach to pricing and reimbursement for off-patent originators using a multiple criteria decision analysis (MCDA) approach centered on a systematic analysis of current pricing and reimbursement policies in China. A drug price policy review was combined with a quantitative analysis of China's drug purchasing database. Policy preferences were identified through a MCDA performed by interviewing well-known academic experts and industry stakeholders. The study findings indicate that the current Chinese price policy includes cost-based pricing and the establishment of maximum retail prices and premiums for off-patent originators, whereas reference pricing may be adopted in the future. The literature review revealed significant differences in the dissolution profiles between originators and generics; therefore, dissolution profiles need to be improved. Market data analysis showed that the overall price ratio of generics and off-patent originators was around 0.54-0.59 in 2002-2011, with a 40% price difference, on average. Ten differentiating value attributes were identified and MCDA was applied to test the impact of three pricing policy scenarios. With the condition of implementing quality consistency regulations and controls, a reduction in the price gap between high-quality off-patent products (including originator and generics) seemed to be the preferred policy. Patents of many drugs will expire within the next 10 years; thus, pricing will be an issue of importance for off-patent originators and generic alternatives.

  4. 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

  5. 77 FR 58380 - General Services Administration Acquisition Regulation; Submission for OMB Review; Price...

    Science.gov (United States)

    2012-09-20

    ...] General Services Administration Acquisition Regulation; Submission for OMB Review; Price Reductions Clause... requirement regarding the GSAR Price Reductions Clause. A notice was published in the Federal Register at 76... identified by Information Collection 3090- 0235, Price Reduction Clause, by any of the following methods...

  6. 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.

  7. 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

  8. 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...

  9. 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. ...

  10. 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. .

  11. 77 FR 74237 - T. Rowe Price Associates, Inc., et al.; Notice of Application

    Science.gov (United States)

    2012-12-13

    ... Price Associates, Inc., et al.; Notice of Application December 7, 2012. AGENCY: Securities and Exchange... sections 12(d)(1)(A) and (B) of the Act. Applicants: T. Rowe Price Associates, Inc. (``TRP''), T. Rowe Price Institutional Income Funds, Inc. (the ``Corporation'') and T. Rowe Price Investment Services, Inc...

  12. 78 FR 7387 - Continuation of 2008 Farm Bill-Dairy Forward Pricing Program

    Science.gov (United States)

    2013-02-01

    ...] Continuation of 2008 Farm Bill--Dairy Forward Pricing Program AGENCY: Agricultural Marketing Service, USDA... the Dairy Forward Pricing Program contained in the Food, Conservation and Energy Act of 2008 (the 2008... associations of producers may enter into forward price contracts under the Dairy Forward Pricing Program...

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

    OpenAIRE

    Oksana Desyatniuk; Olga Cherevko

    2015-01-01

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

  14. 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...

  15. Reference Pricing with Endogenous or Exogenous Payment Limits: Impacts on Insurer and Consumer Spending.

    Science.gov (United States)

    Brown, Timothy T; Robinson, James C

    2016-06-01

    Reference pricing (RP) theories predict different outcomes when reference prices are fixed (exogenous) versus being a function of market prices (MPs) (endogenous). Exogenous RP results in MPs at both high-price and low-price firms converging towards the reference price from above and below, respectively. Endogenous RP results in MPs at both high-price and low-price firms decreasing, with low-price firms acting strategically to decrease the reference price in order to gain market share. We extend these models to a hospital context focusing on insurer and consumer payments. Under exogenous RP, insurer and consumer payments to low-price hospitals increase, and insurer payments to high-price hospitals decrease, but predictions regarding consumer payments are ambiguous for high-price hospitals. Under endogenous RP, insurer payments to high-price and low-price hospitals decrease, and consumer payments to low-price hospitals decrease, but predictions regarding consumer payments are ambiguous for high-price hospitals. We test these predictions with difference-in-differences specifications using 2008-2013 data on patients undergoing joint replacement. For 2 years following RP implementation, insurer payments to high-price and low-price hospitals moved downward, consistent with endogenous RP. However, when the reference price was not reset to account for changes in MPs, insurer payments to low-price hospitals reverted to pre-implementation levels, consistent with exogenous RP. Copyright © 2015 John Wiley & Sons, Ltd. Copyright © 2015 John Wiley & Sons, Ltd.

  16. 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...

  17. 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.

  18. 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...

  19. Oil prices remain firm, despite economic slump

    International Nuclear Information System (INIS)

    Brady, Aaron; Giesecke Linda

    2002-01-01

    Despite all the evidence of sluggish economic growth throughout the world this year, WTI crude oil prices have averaged about $24/bbl year-to-date. Although prices have been lower than year-ago levels, they're a far cry from the lows that occurred in 1998 and at the beginning of 1999. Mounting tensions in the Middle East have given crude prices support. While the market has taken these tensions into account since the beginning of the year, more recent concerns about a possible U.S military conflict with Iraq have added a larger war premium to crude prices. Note that the halt of Iraqi exports itself may not be as detrimental as perceived, since these exports could easily be replaced by OPEC's excess capacity. In part, we have already seen a reduction in Iraqi exports this year due to a pricing dispute

  20. 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.

  1. Outpatient provider concentration and commercial colonoscopy prices.

    Science.gov (United States)

    Pozen, Alexis

    2015-01-01

    The objective was to evaluate the magnitude of various contributors to outpatient commercial colonoscopy prices, including market- and provider-level factors, especially market share. We used adjudicated fee-for-service facility claims from a large commercial insurer for colonoscopies occurring in hospital outpatient department or ambulatory surgery center from October 2005 to December 2012. Claims were matched to provider- and market-level data. Linear fixed effects regressions of negotiated colonoscopy price were run on provider, system, and market characteristics. Markets were defined as counties. There were 178,433 claims from 169 providers (104 systems). The mean system market share was 76% (SD = 0.34) and the mean real (deflated) price was US$1363 (SD = 374), ranging from US$169 to US$2748. For every percentage point increase in a system or individual facility's bed share, relative price increased by 2 to 4 percentage points; this result was stable across a number of specifications. Market population and price were also consistently positively related, though this relation was small in magnitude. No other factor explained price as strongly as market share. Price variation for colonoscopy was driven primarily by market share, of particular concern as the number of mergers increases in wake of the recession and the Affordable Care Act. Whether variation is justified by better quality care requires further research to determine whether quality is subsumed in prices. © The Author(s) 2015.

  2. 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.

  3. 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.

  4. 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

  5. Trouble in your tank: What can be done about out-of-control gasoline prices?

    International Nuclear Information System (INIS)

    Menzies, D.

    2000-01-01

    The recent increases in the price of automotive fuels, especially gasoline is discussed. The Canadian Automobile Association (CAA) makes several recommendation as to how the government might intervene to bring prices back down to a realistic level. First and foremost, the CAA recommends an outright gasoline tax cut, noting that tax on gasoline has increased from 1.5 cent to 10 cents a litre since 1885. The CAA also suggests that a minimum of 5 cents reduction in price would result if the GST were applied only on an ex-tax basis instead of being tacked on to the total pump price after federal and provincial taxes have been added, which in effect amounts to a tax on tax. The provinces could also help by cutting back on their gasoline taxes which range from a low of 9 cents in Alberta to a high of 16.5 cents in Newfoundland. It is noted that the Ottawa-based Canadian Petroleum Products Institute, which represents the major oil companies, does not support the CAA suggestions and dismisses concerns regarding the near-monopoly in the market held by a few major oil companies by saying that while there are admittedly fewer small independents in the market, competition from new larger entrants has actually increased. The Institute spokesman attributes the recent round of price increases as merely the results of world market forces (despite the fact that Canada is a net exporter of oil). At the same time, the Independent Retail Gasoline Merchant Association wants the government to conduct a fundamental review of the Competition Act, to harmonize Canadian laws with those of the United States, our largest trading partner. The Association believes that the Competition Bureau has evolved into a a quasi-judicial body, and is mired in red tape. The Association also suggests that in the meantime, the government should invoke the Energy Supplies Emergency Act to stop Big Oil's 'deceitful price gouging'

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

    NARCIS (Netherlands)

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

    2015-01-01

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

  7. 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

  8. 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...

  9. An overview of alternative fossil fuel price and carbon regulation scenarios

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, Ryan; Bolinger, Mark

    2004-10-01

    ) current oil prices, (3) externally generated oil price forecasts, and (4) the historical difficulty in accurately forecasting oil prices. Overall, a spread between the FE-EERE High Oil Price and Reference scenarios of well over $8/bbl is supported by the literature. We conclude that a wide range of carbon regulation scenarios are possible, especially within the time frame considered by EERE and FE (through 2050). The Working Group's Carbon Cap-and-Trade Scenario is found to be less aggressive than many Kyoto-style targets that have been analyzed, and similar in magnitude to the proposed Climate Stewardship Act. The proposed scenario is more aggressive than some other scenarios found in the literature, however, and ignores carbon banking and offsets and does not allow nuclear power to expand. We are therefore somewhat concerned that the stringency of the proposed carbon regulation scenario in the 2010 to 2025 period will lead to a particularly high estimated cost of carbon reduction. As described in more detail later, we encourage some flexibility in the Working Group's ultimate implementation of the Carbon Cap-and-Trade Scenario. We conclude by identifying additional scenarios that might be considered in future analyses, describing a concern with the proposed specification of the High Fuel Price Scenario, and highlighting the possible difficulty of implementing extreme scenarios with current energy modeling tools.

  10. 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

  11. 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.)

  12. 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…

  13. 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

  14. Oxygenates to hike gasoline price

    International Nuclear Information System (INIS)

    Anon.

    1992-01-01

    This paper reports that cost of achieving required US gasoline formulations this winter in Environmental Protection Agency carbon monoxide (CO) nonattainment areas could reach 3-5 cents/gal, an Energy Information Administration analysis has found. EIA says new winter demand for gasoline blending oxygenates such as methyl tertiary butyl ether (MTBE) or ethanol created by 190 amendments to the Clean Air Act (CAA) will exceed US oxygenate production by 140,000-220,000 b/d. The shortfall must be made up from inventory or imports. EIA estimates the cost of providing incremental oxygenate to meet expected gasoline blending demand likely will result in a price premium of about 20 cents/gal of MTBE equivalent over traditional gasoline blend octane value. That cost likely will be added to the price of oxygenated gasoline

  15. Asymmetric adaptations to energy price changes

    International Nuclear Information System (INIS)

    Kuper, G.H.; Van Soest, D.P.

    1999-01-01

    The effectiveness of policies to reduce the use of energy depend on the elasticity of substitution between the various inputs and on the rate of technological progress. This paper presents a theoretical model emphasising energy investment characteristics of uncertainty and irreversibility that result in testable hypotheses concerning the relative values of substitution parameters and rates of technological change in periods of high and increasing energy prices and in periods of low prices. Estimation results for a panel of sectors of the Dutch economy show that the elasticity of substitution between energy and other inputs is low in periods of low energy prices, whereas it is significantly higher in the preceding period of high and increasing energy prices. Furthermore, energy-saving technological progress in periods of high and increasing energy prices is also significantly higher than if energy prices are low and falling. The regression results suggest that, due this asymmetric response of firms to changes in energy prices, taxing energy in the current period of low energy prices will not yield substantial reductions in energy use of Dutch industry. 21 refs

  16. 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...

  17. 26 CFR 301.9100-6T - Time and manner of making certain elections under the Deficit Reduction Act of 1984.

    Science.gov (United States)

    2010-04-01

    ... for alcohol used as fuel. The election under section 40(f) (as added by section 474(k) of the Act) not... election under such section 102(d)(3), guidelines for making such an election are not provided in this...

  18. H.R. 3653: a Bill to amend the Price-Anderson provisions of the Atomic Energy Act of 1954 to extend and improve procedures for liability and indemnification for nuclear incidents. Introduced in the House of Representatives, Ninety-Ninth Congress, First Session, October 30, 1985

    International Nuclear Information System (INIS)

    Anon.

    1985-01-01

    The Price-Anderson Amendments Act of 1985 extends the coverage from August 1, 1987 to August 1, 1997 and improves liability and indemnification procedures. It establishes premium amounts and limits annual levels to $10 million. The aggregate liability for a single nuclear incident is set at $500 million plus the cost of nuclear insurance required for the licensee as a function of the rated electrical capacity. A commission to administer compensation will function following an incident and until dissolved by the president. The bill also provides for the consolidation of claims from a single incident

  19. 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

  20. 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. .

  1. Fair value enrichment pricing: is it fair

    International Nuclear Information System (INIS)

    1978-01-01

    The Atomic Energy Act of 1954, as amended (Public Law 83-702), requires the Department of Energy to recover all costs for its enrichment activities over a reasonable period of time. The proposed legislation would allow the Department to recover its costs plus a percentage of these costs. Six major factors are examined to determine whether the legislation should be adopted: What effect will the legislation have on the prices paid by ultimate consumers of electricity; will the increase in price resulting from the legislation help promote the establishment of a private uranium enrichment industry; how will the price increase impact on the administration's nuclear non-proliferation goals; what additional revenues will be generated from domestic and foreign customers; should the United States continue to perpetuate a subsidy to the U.S. nuclear industry; what effect, if any, will the new price have on the U.S. supply and demand situation for energy

  2. The 21st Century Cures Act Implications for the Reduction of Racial Health Disparities in the US Criminal Justice System: a Public Health Approach.

    Science.gov (United States)

    Cole, Donna M; Thomas, Dawna Marie; Field, Kelsi; Wool, Amelia; Lipiner, Taryn; Massenberg, Natalie; Guthrie, Barbara J

    2017-11-09

    Past drug epidemics have disproportionately criminalized drug addiction among African Americans, leading to disparate health outcomes, increased rates of HIV/AIDS, and mass incarceration. Conversely, the current opioid addiction crisis in the USA focuses primarily on white communities and is being addressed as a public health problem. The 21st Century Cures Act has the potential to reduce racial health disparities in the criminal justice system through the Act's public health approach to addiction and mental health issues. The 21st Century Cures Act is a progressive step in the right direction; however, given the historical context of segregation and the criminalization of drug addiction among African Americans, the goals of health equity are at risk of being compromised. This paper discusses the implications of this landmark legislation and its potential to decrease racial health disparities, highlighting the importance of ensuring that access to treatment and alternatives to incarceration must include communities of color. In this paper, the authors explain the key components of the 21st Century Cures Act that are specific to criminal justice reform, including a key objective, which is treatment over incarceration. We suggest that without proper attention to how, and where, funding mechanisms are distributed, the 21st Century Cures Act has the potential to increase racial health disparities rather than alleviate them.

  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. Factors influencing global antiretroviral procurement prices.

    Science.gov (United States)

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

    2009-11-18

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

  6. Air quality co-benefits of carbon pricing in China

    Science.gov (United States)

    Li, Mingwei; Zhang, Da; Li, Chiao-Ting; Mulvaney, Kathleen M.; Selin, Noelle E.; Karplus, Valerie J.

    2018-05-01

    Climate policies targeting energy-related CO2 emissions, which act on a global scale over long time horizons, can result in localized, near-term reductions in both air pollution and adverse human health impacts. Focusing on China, the largest energy-using and CO2-emitting nation, we develop a cross-scale modelling approach to quantify these air quality co-benefits, and compare them to the economic costs of climate policy. We simulate the effects of an illustrative climate policy, a price on CO2 emissions. In a policy scenario consistent with China's recent pledge to reach a peak in CO2 emissions by 2030, we project that national health co-benefits from improved air quality would partially or fully offset policy costs depending on chosen health valuation. Net health co-benefits are found to rise with increasing policy stringency.

  7. 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. ...

  8. 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. ...

  9. 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. ...

  10. 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. ...

  11. 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. ...

  12. 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. ...

  13. 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. ...

  14. 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. ...

  15. 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. ...

  16. 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. ...

  17. What happened to anti-malarial markets after the Affordable Medicines Facility-malaria pilot? Trends in ACT availability, price and market share from five African countries under continuation of the private sector co-payment mechanism.

    Science.gov (United States)

    Tougher, Sarah; Hanson, Kara; Goodman, Catherine

    2017-04-25

    The private sector supplies anti-malarial treatment for large proportions of patients in sub-Saharan Africa. Following the large-scale piloting of the Affordable Medicines Facility-malaria (AMFm) from 2010 to 2011, a private sector co-payment mechanism (CPM) provided continuation of private sector subsidies for quality-assured artemisinin combination therapies (QAACT). This article analyses for the first time the extent to which improvements in private sector QAACT supply and distribution observed during the AMFm were maintained or intensified during continuation of the CPM through 2015 in Kenya, Madagascar, Nigeria, Tanzania and Uganda using repeat cross-sectional outlet survey data. QAACT market share in all five countries increased during the AMFm period (p private sector QAACT availability were maintained or improved. In 2014/15, private sector QAACT availability was greater than 70% in Nigeria (84.3%), Kenya (70.5%), Tanzania (83.0%) and Uganda (77.1%), but only 11.2% in Madagascar. QAACT market share was maintained or improved post-AMFm in Nigeria, Tanzania and Uganda, but statistically significant declines were observed in Kenya and Madagascar. In 2014/5, QAACT market share was highest in Kenya and Uganda (48.2 and 47.5%, respectively) followed by Tanzania (39.2%), Nigeria (35.0%), and Madagascar (7.0%). Four of the five countries experienced significant decreases in median QAACT price during the AMFm period. Private sector QAACT prices were maintained or further reduced in Tanzania, Nigeria and Uganda, but prices increased significantly in Kenya and Madagascar. SP prices were consistently lower than those of QAACT in the AMFm period, with the exception of Kenya and Tanzania in 2011, where they were equal. In 2014/5 QAACT remained two to three times more expensive than the most popular non-artemisinin therapy in all countries except Tanzania. Results suggest that a private sector co-payment mechanism for QAACT implemented at national scale for 5 years was

  18. 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...

  19. 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.

  20. 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.

  1. 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.

  2. Analysing the relationship between wholesale and end-user prices in the Nordic electricity market

    International Nuclear Information System (INIS)

    Lewis, P.E.; Johnsen, T.A.; Naervae, T.; Wasti, S.

    2004-09-01

    Efficient pricing in a deregulated market means prices which closely reflect the cost of obtaining electricity in the wholesale market. This research report analyses and explains the relationship between wholesale prices (especially Spot Prices) and end-user prices for residential, industrial and commercial users in the Finnish, Swedish and Norwegian electricity markets. The report primarily analyses the closeness of wholesale and end-user price patterns (the primary tracking period is 1998-2003, focusing especially closely on Finland and the period 2002-2003). The report reveals that Finnish, Norwegian and Swedish end- user prices can all be said to follow spot prices (and other wholesale prices) to a greater or lesser extent. The relationship is however complex and, especially regarding spot prices, clearly closest in Norway, followed by Sweden and then Finland. Whilst, overall, Finnish prices seem quite competitive and Nordic end-user prices currently seem to be extremely similar, there is some cause for concern in Finland. In particular, very few customers have spot based tariffs; wholesale prices (including spot prices) appear to sometimes have been used as an excuse for end-user price rises; Finnish suppliers have often been slow to respond to post-spike spot price reductions; offer prices are currently often higher than standard variable prices; and suppliers seem quite free to follow any pricing strategy, regardless of the presence of competition. Six factors are identified which influence end-user prices and their relationship with wholesale (and particularly spot) prices: hydro-dependency; concentration and entry barriers; cultural and historical determination; legislation; pricing strategies; the competitive environment. The report additionally specifically illustrates a wide variety of possible supplier strategies which might explain Finnish end-user pricing. Spot prices seem to provide only a minor explanation for Finnish end-user prices. (orig.)

  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. 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

  10. New Evidence on the Price Effects of Cigarette Tax Competition.

    Science.gov (United States)

    Carpenter, Christopher S; Mathes, Michael T

    2016-05-01

    Multiple studies have shown that cigarette taxes are more than fully passed through to cigarette prices and that access to a nearby state with a lower cigarette tax also reduces local cigarette prices. We study two other sources of tax competition: nearby Native American reservations and online sales. Using quarterly data on local cigarette prices from 1976-2003, we show that the opening of a Native American casino within 25 miles of a city center is associated with a $0.016-$0.027 lower per-pack price, while a 50 percentage point increase in internet penetration is associated with a $0.22-$0.25 per-pack price reduction. These effects are not observed for other local prices for which there is no potential tax savings. Our results further our understanding of how tax competition affects local cigarette prices and provide context to studies linking Native American reservations and internet penetration to cigarette smuggling.

  11. 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.

  12. Sensitivity of portuguese electricity market prices to solar PV penetration : an analysis of 2016 prices

    OpenAIRE

    Cordeiro De Sousa, João

    2017-01-01

    The reduction in price of solar PV technology led, in the recent years, multiple investors to apply for installing new solar PV power plants in Portugal which would operate without subsidies or feed-in-tari s. In 2016 it was reported the approval of construction of such power plants and given the low variable cost of this technology it is expected that their penetration would reduce the electricity market prices. Hence, before doing the economic assessment of potential new sola...

  13. Theft in Price-Volatile Markets: On the Relationship between Copper Price and Copper Theft

    OpenAIRE

    Sidebottom, A.; Belur, J.; Bowers, K.; Tompson, L.; Johnson, S. D.

    2011-01-01

    Recently, against a backdrop of general reductions in acquisitive crime, increases have been observed in the frequency of metal theft offences. This is generally attributed to increases in metal prices in response to global demand exceeding supply. The main objective of this article was to examine the relationship between the price of copper and levels of copper theft, focusing specifically on copper cable theft from the British railway network. Results indicated a significant positive correl...

  14. 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

  15. 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...

  16. Swedish district heating - owners, prices and profitability

    International Nuclear Information System (INIS)

    Andersson, Sofie; Werner, S.

    2001-01-01

    Owners, prices and profitability are examined in this report for 152 Swedish district heating companies during 1999. Only public information available has been used: Prices from a national annual consumer study, energy supplied, lengths of district heating pipes installed, and average prices for energy supplied. These companies are responsible for 96 % of all district heat supplied in Sweden. District heating systems owned by municipalities were responsible for 65 % of all district heat supply, while the share of power companies was 34 %. Other private owners accounted for 1 %. Only 12 % of the board members are women and more than 40 % of the companies have no woman in the board. The prices gathered by the annual consumer study are good estimates of the price level of district heating in Sweden. The average revenues are only 4,1 % lower than the effective average of prices gathered. Price of district heating decrease with size and market share. Use of combined heat and power plants decrease prices slightly. Lower prices with size can mainly be explained by lower energy supply costs. Calculated rates of return in relation to calculated replacement values increase slightly by size and are almost independent of age and market share. The purport of these conclusions is that the district heating companies share the cost reduction from size with their customers, while the whole benefit from high market shares is repaid to the customers. Calculated rates of return vary among the owner groups examined. Lower rates are accepted by municipalities, while power companies have higher rates at the average costs used. Total replacement costs for the 152 companies has been estimated to 89 billion Swedish crowns or 10 billion Euro. Only correlation analyses using one dimension have been used in this study. A higher degree of quality can be obtained by using multi-dimensional analyses

  17. 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....

  18. International Transfer Pricing Regulation: Nigerian Experience ...

    African Journals Online (AJOL)

    Multinational enterprises (MNEs), as any other international business concern, have among other objectives, the reduction of foreign exchange risk, duties or tariffs, foreign and domestic taxes, which ultimately maximise the enterprises profitability. The use of international transfer pricing strategy by MNEs remains on the ...

  19. Secondary market prices and Mexico's Brady Deal

    NARCIS (Netherlands)

    van Wijnbergen, S.J.G.; Claessens, C.A.M.F.

    1993-01-01

    Analyzes wether or not the use of official funds in debt reduction packages as in Mexico's 1989 Brady deal is tantamount to a creditor bailout. Review of events; option-pricing approach to sovereign debt valuation; market valuation of the Brady debt package; positive impact of Brady plan on debt

  20. 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

  1. 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...

  2. 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

  3. 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

  4. 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)

  5. 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

  6. 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.

  7. 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

  8. 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)

  9. 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.

  10. 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)

  11. 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.

  12. The carbon price: a toothless tool for material efficiency?

    Science.gov (United States)

    Skelton, Alexandra C H; Allwood, Julian M

    2017-06-13

    This article explores whether a carbon price will effectively encourage the more efficient use of greenhouse gas intensive materials such as steel. The article identifies a range of distortions that arise when some of the restrictive assumptions of neoclassical economics are relaxed. Distortions occur due to the sequential nature of decision-making along supply chains, due to imperfect competition and due to government intervention to reduce the risk of carbon leakage. If upstream sectors do not pass on carbon costs, downstream sectors do not have the opportunity to react. Of the distortions identified, compensation mechanisms that reduce the risk of carbon leakage are likely to act as the greatest hinderance to appropriate incentives for the more efficient use of steel in the UK: as things currently stand, unless upstream companies are encouraged to make windfall profits, incentives downstream are weakened. The article concludes by exploring policy options to address the distortions identified, including efforts to reinstate the carbon price downstream and efforts to remove other distortive taxes.This article is part of the themed issue 'Material demand reduction'. © 2017 The Authors.

  13. 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...

  14. Basket Option Pricing Using GP-GPU Hardware Acceleration

    KAUST Repository

    Douglas, Craig C.; Lee, Hyoseop

    2010-01-01

    We introduce a basket option pricing problem arisen in financial mathematics. We discretized the problem based on the alternating direction implicit (ADI) method and parallel cyclic reduction is applied to solve the set of tridiagonal matrices

  15. Reduction of undesired lateral forces acting on the flapper of a flapper–nozzle pilot valve by using an innovative flapper shape

    International Nuclear Information System (INIS)

    Zhang, Shengzhuo; Aung, Nay Zar; Li, Songjing

    2015-01-01

    Highlights: • The simulated flow rate and main flow force show a good agreement with experiments. • The innovative flapper has little influence on the flow-pressure characteristics. • The innovative flapper can greatly reduce the Y direction force on the upper part. • The innovative flapper reduces both the X and Z direction forces on the lower part. - Abstract: The stability and dynamic performance of a flapper–nozzle pilot valve significantly depend on the flow forces acting on the flapper. Due to the shape of the flapper and flow structure in the flapper–nozzle pilot valve there are undesired lateral forces acting on the flapper, which are very potential to interfere with the stability of the flapper. Aiming to reduce these undesired lateral forces, an innovative flapper shape is proposed and a comparative study of flow forces acting on the two different flapper shapes is conducted. A simple rectangle shape is selected as the innovative flapper shape. The flow forces acting on the traditional flapper shape and innovative flapper shape are evaluated by means of CFD (Computational Fluid Dynamics) simulations and verified with the results from the semi-experimental approach. The evaluation of the flow forces is performed for each flapper shape with two different flapper–nozzle clearances of 0.10 mm and 0.05 mm under seven different flow conditions with the variation of inlet pressures from 1 MPa to 7 MPa. A good agreement between CFD results and semi-experimental results shows that the proposed innovative flapper shape has no effect on flow control characteristics since it is giving approximately the same flow rate and main flow force as the traditional flapper shape at every flow condition. Meanwhile the innovative flapper shape effectively reduces the undesired lateral forces acting on the flapper by altering the flow structure and reducing the strength of the jet flow and cavitation occurred in the flow field of flapper–nozzle pilot valve. At the

  16. 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. ...

  17. 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. ...

  18. 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...

  19. Gas and electrical utilities owned by local governments. A development reviewed from the viewpoint of price control in the framework of the antitrust laws and the German Energy Act

    International Nuclear Information System (INIS)

    Wolf, A.

    1994-01-01

    There is no legal obligation of local governments to run electric utilities or gas works as public utilities, but logal governments have the right to do so. If they so wish, a vital requirement is to produce evidence of the long-term economic efficiency, to be presented among others to the supervisory Land authority for public utilities, which has to grant a licence under section 5 EnWG. The licence should not be issued unless proof is given of the long-term economic efficiency on the basis of near-to-competition prices and taking into account cost advantages due to local infrastructural conditions. The costs of deprivatisation - take-over costs, deconcentration and integration costs - must not be used to justify higher rates charged by public, local government utilities in comparison to regional utilies. (orig./HSCH) [de

  20. 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...

  1. 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.

  2. Paying the price: a cross-sectional survey of Australian socioeconomically disadvantaged smokers' responses to hypothetical cigarette price rises.

    Science.gov (United States)

    Guillaumier, Ashleigh; Bonevski, Billie; Paul, Christine; D'Este, Catherine; Doran, Christopher; Siahpush, Mohammad

    2014-03-01

    Increases in tobacco taxation can lead to reductions in tobacco consumption and prevalence of use across social groups. However, use of price-minimisation strategies to manage current and future tobacco use and the role of financial stress is less understood. This study aimed to measure the effect of cigarette price increases on price-minimisation strategy endorsement and financial stress among socioeconomically disadvantaged smokers. Community service organisation welfare recipients in NSW, Australia completed a touchscreen survey. Smoking history, financial stress, highest price to quit and responses to hypothetical cigarette price increases were assessed. Participants were 354 smokers (response rate = 79%). Most participants received income from a government pension (95%), earned price rises, significantly more participants endorsed trying to quit in response to the larger increase scenario (P price-minimisation strategies (e.g. switching to cheaper brands/products) were endorsed, but remained constant across hypothetical scenarios; level of financial stress appeared to have little influence. Smokers indicating they would not change their smoking in response to price rises had higher levels of nicotine dependence. Socially disadvantaged smokers endorsed numerous price-minimising strategies to maintain smoking at hypothetically increased costs. Larger cigarette price rises motivated more smokers to consider quitting, while price-resistant smokers appeared to have a more entrenched smoker status. © 2013 Australasian Professional Society on Alcohol and other Drugs.

  3. 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.

  4. 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)

  5. 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

  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. An unexpected role for the yeast nucleotide exchange factor Sil1 as a reductant acting on the molecular chaperone BiP

    Science.gov (United States)

    Siegenthaler, Kevin D; Pareja, Kristeen A; Wang, Jie; Sevier, Carolyn S

    2017-01-01

    Unfavorable redox conditions in the endoplasmic reticulum (ER) can decrease the capacity for protein secretion, altering vital cell functions. While systems to manage reductive stress are well-established, how cells cope with an overly oxidizing ER remains largely undefined. In previous work (Wang et al., 2014), we demonstrated that the chaperone BiP is a sensor of overly oxidizing ER conditions. We showed that modification of a conserved BiP cysteine during stress beneficially alters BiP chaperone activity to cope with suboptimal folding conditions. How this cysteine is reduced to reestablish 'normal' BiP activity post-oxidative stress has remained unknown. Here we demonstrate that BiP's nucleotide exchange factor – Sil1 – can reverse BiP cysteine oxidation. This previously unexpected reductant capacity for yeast Sil1 has potential implications for the human ataxia Marinesco-Sjögren syndrome, where it is interesting to speculate that a disruption in ER redox-signaling (due to genetic defects in SIL1) may influence disease pathology. DOI: http://dx.doi.org/10.7554/eLife.24141.001 PMID:28257000

  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. Balancing Act

    Institute of Scientific and Technical Information of China (English)

    Wang Jun

    2012-01-01

    China's real estate market experienced challenges in 2011,with the overheated market starting to cool down and the exorbitantly high house prices growth starting to decline.According to figures released by the National Bureau of Statistics,in November 2011,49 of the 70 surveyed large and medium-sized cities saw prices of newly built commercial houses drop compared with the previous month,and another 16 saw prices remain the same as October.

  13. Revisiting Environmental Kuznets Curves through the energy price lens

    International Nuclear Information System (INIS)

    Rodríguez, Miguel; Pena-Boquete, Yolanda; Pardo-Fernández, Juan Carlos

    2016-01-01

    The goal of this paper is to provide new insights to elucidate the inconclusive results from the Environmental Kuznets Curve (EKC) empirical literature. For the first time in empirical literature, an econometric analysis includes the relative prices for several energy sources. The paper provides strong evidence on the relevance of energy prices to CO_2 emissions. Accordingly, one reason for the lack of agreement in the EKC literature may be the absence of energy prices in empirical exercises. The presence of relative energy price changes in the econometric specification confirms a monotonic and positive relationship between CO_2 and gross domestic product (GDP). Therefore, we may conclude that there is a decoupling process but without reaching any turning point on that relationship. The policy implications are straightforward. Direct climate action by policy makers is required to break the positive relationship between CO_2 and GDP. That conclusion has been reinforced by the reduction of energy prices since the middle of 2014. Otherwise, the trend in energy prices may reverse the relative decarbonisation processes accounted for in recent years in major developed countries. - Highlights: •EKC literature usually dismiss the major influence of energy prices. •Relative energy prices invalidate the evidence in favour of the EKC hypothesis. •Results may explain some contradictory observations found in the EKC literature. •Nowadays reduction in energy prices may break decarbonisation trends. •Direct action by policymakers is required to break the positive GDP-CO_2 link.

  14. The pricing of natural gas in US markets

    International Nuclear Information System (INIS)

    Brown, S.P.A.; Yucel, M.K.

    1993-01-01

    Our econometric evidence indicates that changes in natural gas prices are unequal in the long run. Nonetheless, all downstream prices change by at least as much as the average well-head price. Statistically, residential and commercial prices change as much as the city gate price. In the face of persistent shocks, however, market institutions and market dynamics can lead to lengthy periods in which the residential and commercial prices of natural gas adjust less than the wellhead or city gate prices. Electrical and industrial users of natural gas rely heavily on spot supplies and can switch fuels easily. Their ability to switch fuels may be related to the development of a spot market to serve them. Reliance on the spot market may explain why these end users have seen a greater reduction in natural gas prices than have the LDCs over the past seven years. The ability to switch fuels may account for electrical and industrial prices being the source of shocks in their relationships with the wellhead price. It also may explain why prices in these end-sue markets are quick to adjust. Commercial and residential customers cannot switch fuels easily and rely heavily on LDCs for their natural gas. The inability of these end users to switch fuels probably contributes to the reluctance of LDCs to purchase spot supplies of gas. Reliance on contract supplies may explain why the city gate price has not declined as much as electrical and industrial prices of natural gas over the past seven years. Furthermore, the LDCs administer prices in the commercial and residential markets under state regulation

  15. 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 ...

  16. 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)

  17. 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...

  18. 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

  19. 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)

  20. 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

  1. 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...

  2. 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....

  3. 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...

  4. Acute IPPS - Readmissions Reduction Program

    Data.gov (United States)

    U.S. Department of Health & Human Services — Section 3025 of the Affordable Care Act added section 1886(q) to the Social Security Act establishing the Hospital Readmissions Reduction Program, which requires CMS...

  5. 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...

  6. 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)

  7. 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

  8. 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...

  9. 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)

  10. 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

  11. 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/...

  12. 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

  13. 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,…

  14. 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

  15. From Rio to Rio: a global carbon price signal to escape the great climate inconsistency

    International Nuclear Information System (INIS)

    Dion, Stephane; Laurent, Eloi

    2012-05-01

    Two decades after the 1992 Rio Conference, we must admit to collective failure in combating human-induced climate change. The problem is not that no efforts have been undertaken, but that these efforts have just not been enough. We cannot escape serious climate disruption - which, to some extent, has already begun - if we keep going down that road. We must change direction, and we must move quickly. To this end, we call in this paper for a fine-tuning of the international negotiations on climate. We propose refocusing these international efforts on negotiating a global carbon price signal, harmonized in principle but flexible in practice, instead of doggedly spending the next few years attempting to convince countries to accept stricter national targets for quantitative reduction of their greenhouse gas (GHG) emissions. We cannot afford to spend the next few years missing the wrong targets. Simply put, we must move away, collectively, from an ineffective logic of constraint to a pragmatic logic of price incentives. The December 2011 Durban Conference proved, once again, that the 'to each their own target' approach does not work. We must instead adopt a 'one price signal for all' strategy. If there were a single reason to improve the current mitigation logic, it would be this evident fact: developing countries, which now account for 60% of emissions worldwide, cannot accept what they perceive as an obstacle to their economic development, when developed countries have been able to get rich on unlimited use of fossil fuel energy. Indeed, in the foreseeable future, emerging economies, particularly China and India with Gross Domestic Product (GDP) annual growth rates of between 8% and 10%, will not accept absolute reduction targets for GHG emissions. On the other hand, these countries might be more open to the idea of a flexible levy of a price per tonne of carbon dioxide, a price from which they would derive revenues, and which their economic

  16. 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)

  17. Pricing as a means of controlling alcohol consumption.

    Science.gov (United States)

    Sharma, Anurag; Sinha, Kompal; Vandenberg, Brian

    2017-09-01

    Reducing the affordability of alcohol, by increasing its price, is the most effective strategy for controlling alcohol consumption and reducing harm. We review meta-analyses and systematic reviews of alcohol tax/price effects from the past decade, and recent evaluations of tax/price policies in the UK, Canada and Australia. While the magnitudes of price effects vary by sub-group and alcoholic beverage type, it has been consistently shown that price increases lead to reductions in alcohol consumption. There remains, however, a lack of consensus on the most appropriate taxation and pricing policy in many countries because of concerns about effects by different consumption level and income level and disagreement on policy design between parts of the alcoholic beverage industries. Recent developments in the research highlight the importance of obtaining accurate alcohol price data, reducing bias in estimating price responsiveness, and examining the impact on the heaviest drinkers. There is a need for further research focusing on the substitution effects of taxation and pricing policies, estimation of the true tax pass-through rates, and empirical analysis of the supply-side response (from alcohol producers and retailers) to various alcohol pricing strategies. © The Author 2017. Published by Oxford University Press. All rights reserved. For permissions, please e-mail: journals.permissions@oup.com

  18. Emission allowances -- Long-term price trend

    International Nuclear Information System (INIS)

    Lennox, F.H.

    1994-01-01

    Estimated trends in emission allowance (EA) values have been of interest to all those affected by the Clean Air Act Amendments of 1990 since it became law in 1990. The authors published estimates of the values of EAs in December 1991, and revised their estimate in November 1992. The summary trends of the 1992 estimate is shown here. General estimates such as these are no longer useful. Everyone directly involved in complying with the Act or in buying and selling allowances has developed their own outlook on EA values. Many recent trades have been publicized. The prices from the first auction are also well known. Therefore this article is concerned only with what might happening the long-run. Once Phase 2 compliance is essentially complete and emissions roughly match Emission Allowance allocations of some 9.8 million tons annually, what pressures will there be on prices? What will be the direction of values after Phase 2 is in balance?

  19. 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.

  20. Local house prices and mental health.

    Science.gov (United States)

    Joshi, Nayan Krishna

    2016-03-01

    This paper examines the impact of local (county-level) house prices on individual self-reported mental health using individual level data from the United States Behavioral Risk Factor Surveillance System between 2005 and 2011. Exploiting a fixed-effects model that relies on within-county variations, relative to the corresponding changes in other counties, I find that while individuals are likely to experience worse self-reported mental health when local house prices decline, this association is most pronounced for individuals who are least likely to be homeowners. This finding is not consistent with a prediction from a pure wealth mechanism but rather with the hypothesis that house prices act as an economic barometer. I also demonstrate that the association between self-reported mental health and local house prices is not driven by unemployment or foreclosure. The primary result-that lower local house prices have adverse impact on self-reported mental health of homeowners and renters-is consistent with studies using data from the United Kingdom.

  1. 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...

  2. 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 ...

  3. 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

  4. 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

  5. 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. ...

  6. Direct-acting Antivirals in Kidney Transplant Patients: Successful Hepatitis C Treatment and Short Term Reduction in Urinary Protein/Creatinine Ratios

    Directory of Open Access Journals (Sweden)

    Michael R. Goetsch

    2017-09-01

    Full Text Available Introduction: The role of Hepatitis C Virus (HCV clearance in long-term kidney graft survival is unknown. In this study, we examined short-term trends of urinary protein/creatinine (P/C ratios in a cohort of HCV-infected kidney transplant recipients with stable graft function and treated with direct-acting antivirals (DAAs. Methods: We conducted a retrospective study of 19 kidney transplant patients with chronic HCV infection treated with DAAs at the University of Alabama at Birmingham 1917 Viral Hepatitis Clinic between January 2013 and June 2016. Markers of glomerular damage were assessed using average protein/creatinine (P/C ratios measured pre- and post-treatment. We also described treatment efficacy using sustained virologic response at 12 weeks post-HCV treatment (SVR12. Results: The median age of the 19 patients included was 59 years (Q1=58, Q3=64 at completion of treatment. Of these patients, 68% were African American, 32% were White and 63% were male. The median time between kidney transplant and initiation of DAA therapy was 2.25 years (Q1=0.79, Q3=3.79. Post-treatment P/C ratios (median=0.127, Q1=0.090, Q3=0.220 were significantly lower (p=0.01 than pre-treatment ratios (median=0.168, Q1=0.118, Q3=0.385. P/C ratios decreased in 14 of 19 patients (74% with median change of -0.072 (median percent change= -40%. Post-treatment eGFRs (median=58.9, Q1=48.9, Q3=72.3 were not significantly different (p=0.82 than the pre-treatment values (median=57.0, Q1=48.8, Q3=67.8. Conclusions: In this preliminary study, there was a statistically significant decrease in P/C ratios associated with HCV clearance, suggesting a potential role for DAAs in improving kidney graft survival. Larger cohort studies will be needed to assess the clinical and long-term benefits of DAAs in this special population of HCV infected patients.

  7. 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...

  8. 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...

  9. 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 ...

  10. 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)

  11. "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.

  12. Photovoltaic power: the inadequate purchase price

    International Nuclear Information System (INIS)

    Finon, D.

    2009-01-01

    The current policy of guaranteed purchase prices applied to photovoltaic power lacks rationality: prices are not graduated, commitment times are too long, there is no capping to capacity developed, subsidies (tax credit, direct subsidy, etc) are complex and give too favourable a return time. The lack of differentiation between products may also delay the emergence of new PV technologies. As a result, it is legitimate to envisage a cost/benefit analysis of future subsidies and to wonder about Frances ability, as a second rank player, to catch up with the leaders (Germany, Japan, United States). The report does not criticize policy based on purchase prices in itself: this is suitable or technology close to commercial operation in that it guarantees stable terms close to wholesale electricity market prices. It does, however, criticize adequacy in terms of less advanced PV technology, which results in purchase prices five times that of wind power. The report proposes re-targeting the system to take account of the significant stakes in PV power. Costly incentives for installing land PV cells and units should be quickly reduced, while industrial demonstration budgets deserve increases to further the development of new technologies (improved crystal silicon and thin layers). The demonstration phase and industrial development should be the primary focus, where a large part of potentially promising reductions in costs are likely to be achieved. (author)

  13. Privacy Act

    Science.gov (United States)

    Learn about the Privacy Act of 1974, the Electronic Government Act of 2002, the Federal Information Security Management Act, and other information about the Environmental Protection Agency maintains its records.

  14. Price-Anderson Law - reports on Price-Anderson issues

    International Nuclear Information System (INIS)

    Anon.

    1985-01-01

    Five of the six papers in this study are by experts outside the nuclear industry, and deal with fear, risk, and risk management as they apply to the review of the Price-Anderson Act. The purpose of the Act is to encourage private enterprise to develop a reliable source of electric power and to protect the public from the financial consequences of injury or damage that may occur during the process. The titles of the five papers are: (1) the effects of ionizing radiation on human health, (2) proof of causation through expert opinion evidence in low-level radiation cases, (3) a critical review of the probability of causation method, (4) the nuclear liability claims experience of the nuclear insurance pools, (5) review of nuclear liability compensation systems applicable to reactors outside the United States, and (6) the economic foundations of limited liability for nuclear reactor accidents. A separate abstract was prepared for each of the papers for EDB, EPA, and INS

  15. 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. ...

  16. 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. ...

  17. 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. ...

  18. 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. ...

  19. 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. ...

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

    Science.gov (United States)

    2010-01-01

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

  1. 7 CFR 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. ...

  2. 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. ...

  3. 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.

  4. [Prudent use price controls in Chinese medicines market: based on statistical data analysis].

    Science.gov (United States)

    Yang, Guang; Wang, Nuo; Huang, Lu-Qi; Qiu, Hong-Yan; Guo, Lan-Ping

    2014-01-01

    A dispute about the decreasing-price problem of traditional Chinese medicine (TCM) has recently arisen. This article analyzes the statistical data of 1995-2011 in China, the results showed that the main responsibility of expensive health care has no direct relationship with the drug price. The price index of TCM rose significantly slower than the medicine prices, the production margins of TCM affected by the material prices has been diminishing since 1995, continuous price reduction will further depress profits of the TCM industry. Considering the pros and cons of raw materials vary greatly in price, decreasing medicine price behavior will force enterprises to use inferior materials in order to maintain corporate profits. The results have the guiding meaning to medicine price management.

  5. Trends in prices to commercial energy consumers in the competitive Texas electricity market

    International Nuclear Information System (INIS)

    Zarnikau, Jay; Fox, Marilyn; Smolen, Paul

    2007-01-01

    To date, the price of electricity to commercial or business energy consumers has generally increased at greater rates in the areas of Texas where retail competition has been introduced than in areas that do not enjoy competition. Trends in commercial competitive prices have largely mirrored trends in residential prices. Market restructuring has tended to increase the sensitivity of retail electricity prices to changes in the price of natural gas, the marginal fuel used for generation in Texas. Consequently, the rapid increases in the commodity price of natural gas following restructuring led to increases in competitive electric rates which exceeded the increases in areas not exposed to restructuring, where the fuel component of electric rates tend to reflect a weighted average of the utilities' fuel costs. There is some evidence that pricing behavior by competitive retailers changed when the retailers affiliated with the incumbent utilities were permitted some pricing flexibility, resulting in a reduction in prices. (author)

  6. The short-term impact of Ontario's generic pricing reforms.

    Directory of Open Access Journals (Sweden)

    Michael R Law

    Full Text Available Canadians pay amongst the highest generic drug prices in the world. In July 2010, the province of Ontario enacted a policy that halved reimbursement for generic drugs from the public drug plan, and substantially lowered prices for private purchases. We quantified the impact of this policy on overall generic drug expenditures in the province, and projected the impact in other provinces had they mimicked this pricing change.We used quarterly prescription generic drug dispensing data from the IMS-Brogan CompuScript Audit. We used the price per unit in both the pre- and post-policy period and two economics price indexes to estimate the expenditure reduction in Ontario. Further, we used the post-policy Ontario prices to estimate the potential reduction in other provinces.We estimate that total expenditure on generic drugs in Ontario during the second half of 2010 was between $181 and $194 million below what would be expected if prices had remained at pre-policy level. Over half of the reduction in spending was due to savings on just 10 generic ingredients. If other provinces had matched Ontario's prices, their expenditures over during the latter half of 2010 would have been $445 million lower.We found that if Ontario's pricing scheme were adopted nationally, overall spending on generic drugs in Canada would drop at least $1.28 billion annually--a 5% decrease in total prescription drug expenditure. Other provinces should seriously consider both changes to their generic drug prices and the use of more competitive bulk purchasing policies.

  7. The importance of price for the sale of ecological products

    DEFF Research Database (Denmark)

    Hansen, Jesper Kirkeby; Sørensen, Hans Christian

    1993-01-01

    Executive summary: 1. A high price has been considered as one of the main reasons for consumers' unwillingness to buy ecological products in spite of often positive attitudes towards this category of products. The study reported in this paper had the purpose to find out whether the present price ...... are characterised by low consumer involvement: few alternatives are compared, not very many product attributes are used, and in the decision making, consumers resort to the application of simple choice tactics....... level for ecological products is indeed a decisive obstacle to the sale of ecological prducts. 2. The survey indicated that the market share for ecological products cannot be increased at the present price level. Hence, there is good reason to focus on the price parameter. 3. An experiment with price...... reductions produced considerable changes in customer choices and hence in the estimated market share. The change for tomatoes entails a doubling of the market share at a price reduction of DKK 2.00. For potatoes one could observe a 10% increase per DKK 1.30 price reduction. The ecological market share...

  8. 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...

  9. 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.

  10. 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.

  11. 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

  12. Empirical analysis of the spot market implications of price-responsive demand

    International Nuclear Information System (INIS)

    Siddiqui, A.S.

    2006-01-01

    Although electricity is theoretically an inelastic good in the short term, the steep slope of the supply stack implies that even modest response by demand could translate into reduced capacity requirements and significant price decreases. This article examined the effect of price-responsive demand strategies in an actual deregulated electricity industry. Auction data from the New York Independent System Operator (NYISO) day-ahead electricity market were used to form supply stacks for various zones. A simple linear demand function was used to determine the effect of price responsiveness on equilibrium spot market price and consumption. The aim was to quantify the benefits from the pricing protocol and to determine whether modest levels of price elasticity can significantly lower prices and consumption. Market-clearing prices and quantities were estimated using various supply curves in order to quantify the responsiveness necessary to achieve given price reductions. Price response was induced in the demand curve by varying its slope. Estimates were then used to estimate the average level of slope needed to reduce the average market-clearing price during the year by a certain percentage. Results showed that an average slope of -50.04 was necessary for prices to be reduced by 25 per cent. Results also showed that necessary price responses can be ascertained for any desired reduction in the market-clearing price or quantity. Although price responsiveness unambiguously reduces the spot market price and quantity, its effect on the forward price is not yet clear. It was concluded that a separate analysis of peak hours may reveal the effectiveness of enhanced price response. 8 refs., 1 tab., 8 figs

  13. ASPECTS OF REGIONAL COMPETITIVENESS THROUGH DYNAMIC PRICES OF PETROLEUM PRODUCTS

    Directory of Open Access Journals (Sweden)

    Daniela\tENACHESCU

    2015-06-01

    Full Text Available This paper presents aspects regarding the dynamics of prices of petroleum products: gasoline and diesel in Romania in the period 2003(2007-2014. Both focus on relationship-price raw material and finished product by the impact of market prices. Given that the price of fuel is a key factor in economic development but also in the living of population, this paper has proposed to analyze some aspects of the dynamics of prices of petroleum products in correlation with commodity prices in a competitive market in 2003 -2014. In the analized period, price of oil barrel has a dynamics substantially influenced by the global political turbulences but also by lower oil demand due to consumption reduction, especially lately. Increases and decreases were abrupt and unpredictable in the early years of the first decade of the XXI century. Political crises in the Middle East, the economic crisis started in 2007 and especially the crisis in Ukraine and policies adopted by the EU and the US have led to extremely large fluctuations in oil prices from one period to another . This dynamic will only cover the price of petroleum products namely gazoline and diesel for vehicles.

  14. Economic impact on the Florida economy of energy price spikes

    International Nuclear Information System (INIS)

    Mory, J.F.

    1992-01-01

    A substantial disturbance in oil supplies is likely to generate a large price upsurge and a downturn in the level of economic activity. Each of these two effects diminishes demand by a certain amount. The specific price surge required to reduce demand to the lower level of supply can be calculated with an oil demand function and with empirical estimations of the association between price spikes and declines in economic activity. The first section presents an energy demand model for Florida, which provides the price and income elasticities needed. The second section includes theoretical explanations and empirical estimations of the relationship between price spikes and recessions. Based on historical evidence, it seems that Florida's and the nation's economic systems are very sensitive to oil price surges. As price spikes appear damaging to the economy, it could be expected that reductions in the price of oil are beneficial to the system. That is likely to be the case in the long run, but no empirical evidence of favorable short-term effects of oil price decreases was found. Several possible explanations and theoretical reasons are offered to explain this lack of association. The final section presents estimates of the effect of oil disruptions upon specific industries in Florida and the nation

  15. 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...

  16. 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.

  17. Animal health and price transmission along livestock supply chains.

    Science.gov (United States)

    Aragrande, M; Canali, M

    2017-04-01

    Animal health diseases can severely affect the food supply chain by causing variations in prices and market demand. Price transmission analysis reveals in what ways price variations are transmitted along the supply chain, and how supply chains of substitute products and different regional markets are also affected. In perfect markets, a price variation would be completely and instantaneously transmitted across the different levels of the supply chain: producers, the processing industry, retailers and consumers. However, empirical studies show that food markets are often imperfect, with anomalies or asymmetries in price transmission and distortions in the distribution of market benefits. This means, for instance, that a price increase at the consumer level may not be transmitted from retailers to processors and producers; yet, on the other hand, price falls may rapidly affect the upstream supply chain. Market concentration and the consequent exertion of market power in key segments of the supply chain can explain price transmission asymmetries and their distributional effects, but other factors may also be involved, such as transaction costs, scale economies, and imperfect information. During the bovine spongiform encephalopathy (BSE) crisis, asymmetric price transmission in the beef supply chain and related meat markets determined distributional effects among sectors. After the spread of the BSE food scare, the fall in demand marginally affected the price paid to retailers, but producers and wholesalers suffered much more, in both price reductions and the time needed to recover to precrisis demand. Price transmission analysis investigates how animal health crises create different economic burdens for various types of stakeholder, and provides useful socioeconomic insights when used with other tools.

  18. 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...

  19. 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)

  20. 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.

  1. 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.

  2. 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

  3. 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)

  4. 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.)

  5. 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

  6. 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...

  7. 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

  8. 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.

  9. 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…

  10. 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

  11. 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...

  12. 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.

  13. [Impact Reimbursement Act on the pharmaceutical market in Poland].

    Science.gov (United States)

    Giermaziak, Wojciech

    2014-04-01

    According to 12 may 2011 Reimbursement Act, the new regulations were introduced related to changes in so far in force rules on refunds of official prices and margins for drugs, foodstuffs of special purpose and medical products. After year of functioning of this regulation, in evaluation of the government, law gave measurable financial effects for public payer, sometimes through drastic actions, connected the of reduction of existing profits of manufacturers sector and importers drugs, as well wholesale and retail, both in treatment open and closed. Parallel to research and analysis of effects introduction in life act refund, conducted by government, to target current regulation possible negative phenomena can to be after-effects to regulation, systematically there are conducted analogous study to reputable companies specialized in evaluation and updating market Polish pharmaceutical, such as IMS Health Polska, Pharma Expert, Kamsoft, WHO and European a law firm. In their opinion to reimbursement act is the most serious regulation control system to introduced into Polish order legal, and first time for many years on such a large scale. Thoroughly changed policy of drugs State have important influence for all participants Polish pharmaceutical market, both those directly related to the drug trade, as the functioning doctors and health condition and financial Polish patient. Change in the way prices of drugs is determined as flexible to price formation mechanism, combining drugs similar profile pharmacological in so group limits and dependence of the level of refunds from application drug accordingly characteristics medicinal product, adaptation solutions to new law refund to the existing law about health services, gave measurable financial effect for the public payer. Rationalization expenses to NFZ, as main premise introduction refund act, created to broader than so far possibility to use new molecules of drugs, and the latest medical technology, even if in the

  14. 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...

  15. Price regulation in the Spanish energy sectors: who benefits?

    International Nuclear Information System (INIS)

    Arocena, Pablo; Contin, Ignacio; Huerta, Emilio

    2002-01-01

    This paper analyses the distribution of benefits between firms and consumers due to the price regulation of the Spanish energy sectors (electricity, oil fuels and gas) during the decade 1987-1997. To that effect, we compare the actual evolution of energy prices with alternate benchmarks in order to assess the potential existence of a pro-industry or a pro-consumer bias in the pricing policies followed by the regulator. Our results show a pro-industry-biased regulatory context, where consumers benefited very little from price control. The successive price adjustments over time allowed the companies to keep all the productivity gains and cost reductions and to increase their profitability rates relative to those achieved in the manufacturing sector. (Author)

  16. Price regulation in the Spanish energy sectors: who benefits?

    Energy Technology Data Exchange (ETDEWEB)

    Arocena, Pablo; Contin, Ignacio; Huerta, Emilio [Departamento de Gestion de Empresas, Universidad Publica de Navarra, Campus de Arrosadia. 31006, Pamplona (Spain); [Canterbury Business School, University of Kent Canterbury (United Kingdom)

    2002-08-01

    This paper analyses the distribution of benefits between firms and consumers due to the price regulation of the Spanish energy sectors (electricity, oil fuels and gas) during the decade 1987-1997. To that effect, we compare the actual evolution of energy prices with alternate benchmarks in order to assess the potential existence of a pro-industry or a pro-consumer bias in the pricing policies followed by the regulator. Our results show a pro-industry-biased regulatory context, where consumers benefited very little from price control. The successive price adjustments over time allowed the companies to keep all the productivity gains and cost reductions and to increase their profitability rates relative to those achieved in the manufacturing sector. (Author)

  17. 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.

  18. 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)

  19. Is College Affordable? Are Loans Manageable? What Do Colleges' Net Price Calculators Show? Policy Bulletin

    Science.gov (United States)

    Advisory Committee on Student Financial Assistance, 2012

    2012-01-01

    A review of net price calculators--a financial aid tool mandated by the "Higher Education Opportunity Act" of 2008--reveals that students from low-, moderate-, and middle-income families face record-level net prices at 4-year public colleges today. These net prices will translate into levels of average total loan burden far in excess of…

  20. 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....

  1. International Pricing Strategies for Born-Global Firms

    Directory of Open Access Journals (Sweden)

    Michael Neubert

    2017-10-01

    Full Text Available This paper aims to understand how born global firms develop their international pricing strategies, practices, and models. It aims to expand the study of international entrepreneurship and born global firms by including a broader and deeper range of pricing aspects than is normally found in the international entrepreneurship and pricing literature. The paper opted for a multiple case-study research design using different sources of evidence, including four in-depth interviews with CEOs of born global firms. The case-study firms were selected using a purposive selection method. The theoretical framework of Ingenbleek, Frambach & Verhallen is used. The results suggest that successful leaders act as ‘integrating forces’ on two levels: by applying a structured and disciplined price-setting process with regular reviews and by mediating between corporate financial goals and the local market reality. The results support the claim that policy makers should offer insights, training and financial support to give promising born global firms the possibility to select the most efficient international pricing models and strategies. The results are relevant for entrepreneurs to understand the importance of efficient price-modelling processes and the influence of the different price strategies and price models on financial results and sales revenues.

  2. Influence of generic reference pricing on medicine cost in Slovenia: a retrospective study

    Science.gov (United States)

    Marđetko, Nika; Kos, Mitja

    2018-01-01

    Aim To assess the impact of the generic reference pricing (GRP) system on the prices and cost of medicines in Slovenia approximately 8 years after its introduction in 2003 and before the implementation of the therapeutic reference pricing system. Methods A retrospective study of all medicines (N = 789) included in the GRP system on January 31, 2012 was performed. Medicine prices and cost were analyzed between January 31, 2012 and December 31, 2013 after every update (N = 11) of the maximum reimbursable price (MRP) and were compared to the price and cost on January 31, 2012 (index date). Time trends of different types of medicine prices (maximum allowed price, MRP, and actual wholesale price) were graphically analyzed, and actual wholesale price adjustments to the MRP changes and the budget impact of the GRP were assessed. Results In the 2-year study period, the long-term performance of the GRP system was associated with an approximate 45% decrease in the average MRP or an approximate 20% cost reduction. For each MRP update period, the GRP reduced the cost based on the maximum allowed price for approximately 30%. The wholesale price adjustments were mostly made for medicines priced above the MRP and reduced patients’ out-of-pocket cost. Conclusions In the long term, the GRP system effectively reduced medicine prices and the cost of reimbursed products. PMID:29740992

  3. Influence of generic reference pricing on medicine cost in Slovenia: a retrospective study.

    Science.gov (United States)

    Marđetko, Nika; Kos, Mitja

    2018-04-30

    To assess the impact of the generic reference pricing (GRP) system on the prices and cost of medicines in Slovenia approximately 8 years after its introduction in 2003 and before the implementation of the therapeutic reference pricing system. A retrospective study of all medicines (N=789) included in the GRP system on January 31, 2012 was performed. Medicine prices and cost were analyzed between January 31, 2012 and December 31, 2013 after every update (N=11) of the maximum reimbursable price (MRP) and were compared to the price and cost on January 31, 2012 (index date). Time trends of different types of medicine prices (maximum allowed price, MRP, and actual wholesale price) were graphically analyzed, and actual wholesale price adjustments to the MRP changes and the budget impact of the GRP were assessed. In the 2-year study period, the long-term performance of the GRP system was associated with an approximate 45% decrease in the average MRP or an approximate 20% cost reduction. For each MRP update period, the GRP reduced the cost based on the maximum allowed price for approximately 30%. The wholesale price adjustments were mostly made for medicines priced above the MRP and reduced patients' out-of-pocket cost. In the long term, the GRP system effectively reduced medicine prices and the cost of reimbursed products.

  4. 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.

  5. 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.

  6. 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)

  7. 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 ...

  8. 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...

  9. 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...

  10. 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 ...

  11. 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...

  12. 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...

  13. 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...

  14. Loss Aversion and Time-Differentiated Electricity Pricing

    Energy Technology Data Exchange (ETDEWEB)

    Spurlock, C. Anna [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2015-06-01

    I develop a model of loss aversion over electricity expenditure, from which I derive testable predictions for household electricity consumption while on combination time-of-use (TOU) and critical peak pricing (CPP) plans. Testing these predictions results in evidence consistent with loss aversion: (1) spillover effects - positive expenditure shocks resulted in significantly more peak consumption reduction for several weeks thereafter; and (2) clustering - disproportionate probability of consuming such that expenditure would be equal between the TOUCPP or standard flat-rate pricing structures. This behavior is inconsistent with a purely neoclassical utility model, and has important implications for application of time-differentiated electricity pricing.

  15. 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...

  16. 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...

  17. 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

  18. 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…

  19. 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)

  20. 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

  1. Tergiversating the price of nuclear waste storage

    International Nuclear Information System (INIS)

    Mills, R.L.

    1984-01-01

    Tergiversation, the evasion of straightforward action of clearcut statement of position, was a characteristic of high-level nuclear waste disposal until the US Congress passed the Nuclear Waste Policy Act of 1982. How the price of waste storage is administered will affect the design requirements of monitored retrievable storage (MRS) facilities as well as repositories. Those decisions, in part, are internal to the Department of Energy. From the utility's viewpoint, the options are few but clearer. Reprocessing, as performed in Europe, is not a perfect substitute for MRS. The European reprocess-repository sequence will not yield the same nuclear resource base as the American MRS-repository scheme. For the future price of the energy resource represented by nuclear waste, the author notes that tergiversation continues. 3 references

  2. 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.

  3. Retail electricity price savings from compliance flexibility in GHG standards for stationary sources

    International Nuclear Information System (INIS)

    Burtraw, Dallas; Woerman, Matt; Paul, Anthony

    2012-01-01

    The EPA will issue rules regulating greenhouse gas (GHG) emissions from existing steam boilers and refineries in 2012. A crucial issue affecting the scope and cost of emissions reductions will be the potential introduction of flexibility in compliance, including averaging across groups of facilities. This research investigates the role of compliance flexibility for the most important of these source categories—existing coal-fired power plants—that currently account for one-third of national emissions of carbon dioxide, the most important greenhouse gas. We find a flexible standard, calibrated to achieve the same emissions reductions as a traditional(inflexible) approach, reduces the increase in electricity price by 60 percent and overall costs by two-thirds in 2020. The flexible standard also leads to substantially more investment to improve the operating efficiency of existing facilities, whereas the traditional standard leads to substantially greater retirement of existing facilities. - Highlights: ► The U.S. EPA will regulate GHG emissions from power plants under the Clean Air Act. ► We compare a flexible standard with fleet-wide averaging to a traditional standard. ► Flexible standard reduces the increase in electricity price by 60percent in 2020. ► Flexible standard reduces the increase in overall costs by two-thirds in 2020. ► Flexible standard leads to more efficiency investment and less capacity retirement.

  4. Animal Diet Formulation with Floating Price

    Directory of Open Access Journals (Sweden)

    S.H Nasseri

    2016-12-01

    Full Text Available In the process of milk production, the highest cost relates to animal feed. Based on reports provided by the experts, around seventy percent of dairy livestock costs included feed costs. In order to minimize the total price of livestock feed, according to the limits of feed sources in each region or season, and also the transportation and maintenance costs and ultimately milk price reduction, optimization of the livestock nutrition program is an essential issue. Because of the uncertainty and lack of precision in the optimal food ration done with existing methods based on linear programming, there is a need to use appropriate methods to meet this purpose. Therefore, in this study formulation of completely mixed nutrient diets of dairy cows is done by using a fuzzy linear programming in early lactation. Application of fuzzy optimization method and floating price make it possible to formulate and change the completely mixed diets with adequate safety margins. Therefore, applications of fuzzy methods in feed rations of dairy cattle are recommended to optimize the diets. Obviously, it would be useful to design suitable software, which provides the possibility of using floating prices to set feed rations by the use of fuzzy optimization method.

  5. Gas markets and pricing in Asia

    International Nuclear Information System (INIS)

    Mashayekhi, A.; Law, P.L.

    1992-01-01

    The issues of natural gas market development and pricing are reviewed within the context of specific Asian countries where gas plays an important role. Within Southeast Asia, Malaysia's Penninsular Gas Utilization project signals a new era in pipeline gas trade with an agreement to supply Singapore. There is now also an opportunity to extend Malaysian pipeline supplies to Thailand, which is actively seeking natural gas from neighboring countries. The prospects for LNG are dominated by the high growth markets of Japan, South Korea, and Taiwan. LNG trade has tended to bind the region together through close economic ties. Due to the increasing damand within the supplier countries themselves and their close neighbors, it is likely that LNG consumers will increasingly need to look beyond their traditional Southeast Asian suppliers in the future, perhaps to higher cost LNG schemes outside the region. In Southeast Asia, reduction of the high volumes of associated gas currently flared from the Bombay High Field in India will not only make big contribution to meeting the country's future gas demand, but will also prove environmentally beneficial. Pakistan, in order to control its developing gas markets, has raised gas prices to consumers substantially, with beneficial effects on supply and demand. In Bangladesh, economic pricing has been important in allocating gas resources efficiently. At both the regional and global level, the link between gas use and the environment is becoming stronger, raising the question of relating gas and energy prices to environmental costs and benefits

  6. Customer response on price incentives

    International Nuclear Information System (INIS)

    Naesje, Paal C.; Andersen, Thale K.; Saele, Hanne

    2005-01-01

    This paper analyses the relation between end-users energy attitudes and their corresponding energy behaviour. It presents empirical findings from analyses of the effects of two-way communication between consumers and power companies. Two-way communication has made available high quality data on energy consumption. In the build-up to the analysis in this paper the a number of aspects thought to influence energy consumption has been looked at; including standard of housing, number and age of residents, as well as socio-economic factors, behaviour and preferences. Here we choose to focus specifically on attitudes and behaviour. These aspects are controlled for price incentives. The combination of very tight peak power balance in the Nordic power system and few investments in extension of power networks has turned the focus towards manual or automatic demand-response which requires hourly metering for documentation. The data are two-fold: Hourly recordings of meter-data of electric consumption of 10,894 customers (nearly half of these had installed technology for remote load control) in two different network areas and survey-data from a questionnaire distributed to consumers that resulted in nearly 550 answers. During the winter 2003/2004 these customers were offered different price incentives. The analyses showed a net reduction in electricity consumption of 1,0 kWh/h at the most in peak load hours. The paper is based on two connected studies, 'End-user flexibility by efficient use of ICT' and 'Improving end-user knowledge for managing energy loads end consumption' conducted in Norway by the SINTEF group

  7. 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

  8. 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.

  9. 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 ...

  10. 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.

  11. 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%

  12. 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.

  13. Determinants and Sustainability of House Prices: The Case of Shanghai, China

    Directory of Open Access Journals (Sweden)

    Gao Lu Zou

    2015-04-01

    Full Text Available Recent housing policies include measures for home purchase control and shanty town redevelopment. This study proposes sustainable pricing, in that the long-run equilibrium price is determined by the fundamentals of house prices. We argue that changes in CPI might have led to rapidly growing house prices and rather high price levels. We investigate the long-run or short-run impacts of new commodity housing completions, transacted square meters of commodity housing, and CPI for house prices in Shanghai. We adopt monthly data for the period of 2005–2010. We test for unit roots using both the ADF and PP techniques and structural breaks using both the Zivot-Andrews (Model B and Perron (Model C methods. Considering Cheung-Lai and Reinsel–Ahn finite-sample corrections, the results suggest a long-run equilibrium. Housing completions negatively impact house prices in the short run. A positive volume-price relationship is suggested. Housing sales affect house prices in the short run but not vice versa. Hence, the empirical evidence supports the search model. In addition, CPI is strongly exogenous with respect to the long-run relationship and thus is a long-term determinant of house prices. CPI also positively and drastically influences house prices in the short run. Therefore, a reduction in inflation rate could stabilize house prices, increasing the chances of sustainable prices in the future.

  14. Relative Food Prices and Obesity in U.S. Metropolitan Areas: 1976-2001

    Science.gov (United States)

    Xu, Xin; Variyam, Jayachandran N.; Zhao, Zhenxiang; Chaloupka, Frank J.

    2014-01-01

    This study investigates the impact of food price on obesity, by exploring the co-occurrence of obesity growth with relative food price reduction between 1976 and 2001. Analyses control for female labor participation and metropolitan outlet densities that might affect body weight. Both the first-difference and fixed effects approaches provide consistent evidence suggesting that relative food prices have substantial impacts on obesity and such impacts were more pronounced among the low-educated. These findings imply that relative food price reductions during the time period could plausibly explain about 18% of the increase in obesity among the U.S. adults in metropolitan areas. PMID:25502888

  15. 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.

  16. 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...

  17. Price setting in turbulent times

    DEFF Research Database (Denmark)

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

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

  18. 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)

  19. Pricing for finished products of the enterprise: accounting and analytical aspect

    Directory of Open Access Journals (Sweden)

    N.L. Pravdyuk

    2017-03-01

    Full Text Available The pricing policy chosen by the enterprise in respect of goods and finished products of own production, has a decisive influence on the formation of financial results. In modern economic conditions we need to strengthen managerial decisions on the choice and carrying out price policy and a means of solving this problem is accounting. To determine the boundaries and competence of decision-making we analyzed the regulation of these terms and processes, as well as the dynamics of the stocks across sectors of the economy, the consumer price index, producer price index, the price index of realization of industrial products. Widely used data analytical reviews of the national Bank of Ukraine, enterprises' expectations regarding efficiency, the analysis of financial market indicators, etc. Established that the provision of information management pricing of goods shall conform to the requirements of the economy, by deepening complexity of accounting, to ensure the needs of consumers. According to the study substantiates the basics of accounting and analytical aspect of the pricing policy for finished products businesses. In the study of pricing policies in respect of goods in accounting and analytical aspect, we have established the following. The existing normative-legal acts and definitions of researchers on economic and accounting analysis of the concept give a sufficiently wide interpretation, which depends on the orientation and activity of the enterprise. Factors and points of influence on the efficiency of the pricing policy are: information support of process of pricing assessment of pricing factors, establish the objectives of price policy, assessment of customer demand, cost analysis, competition analysis, selecting a pricing method that measures the price adjustment, the evaluation price risk. The economic impact of the market environment is the most significant to the pricing policy of agricultural enterprises, which revealed the analysis

  20. 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

    We review procurement and pricing transparency practices for pharmaceutical products. We specifically focus on Brazil and examine its approach to increasing pricing transparency, with the aim of determining the level of effectiveness in lower prices using a tool (Banco de Preços em Saúde, BPS) that only reveals purchase prices as compared to other tools (in other countries) that establish a greater degree of price transparency. A general report of Preços em Saúde (BPS) and Sistema Integrado de Administração de Serviços Gerais (SIASG) pricing data was created for 25 drugs that met specific criteria. To explore the linear time trend of each of the drugs, separate regression models were fitted for each drug, resulting in a total of 19 models. Each model controlled for the state variable and the interaction between state and time, in order to accommodate expected heterogeneity in the data. Additionally, the models controlled for procurement quantities and the effect they have on the unit price. Secondary analysis using mixed effects models was also carried out to account for the impact that institutions and suppliers may have upon the unit price. Adjusting for these predictor variables (procurement quantities, supplier, purchasing institution) was important to determine the sole effect that time has had on unit prices. A total of 2 x 19 = 38 models were estimated to explore the overall effect of time on changes in unit price. All statistical analyses were performed using the R statistical software, while the linear mixed effects models were fitted using the lme4 R package. The findings from our analysis suggest that there is no pattern of consistent price decreases within the two Brazilian states during the five-year period for which the prices were analyzed. While the BPS does allow for an increase in transparency and information on drug purchase prices in Brazil, it has not shown to lead to consistent reductions in drug purchase prices for some of the most

  1. 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

  2. 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...

  3. The economic impact of carbon pricing with regulated electricity prices in China—An application of a computable general equilibrium approach

    International Nuclear Information System (INIS)

    Li, Ji Feng; Wang, Xin; Zhang, Ya Xiong; Kou, Qin

    2014-01-01

    We use a dynamic CGE model (SICGE) to assess the economic and climate impacts of emissions trading system (ETS) in China with a carbon price of 100 Yuan/ton CO2. A particular focus is given to the regulated electricity price regime, which is a major concern of electricity sector’s cost-effective participation in ETS in China. We found: (1) Carbon pricing is an effective policy for China to reduce CO 2 emissions. Total CO 2 emissions reduction ranges from 6.8% to 11.2% in short-term. (2) Rigid electricity price entails lower CO 2 emissions reduction but can be considered as a feasible starting point to introduce carbon pricing policies in short-term as long as governmental subsidies are given to electricity production. (3) In mid- and long-term, the efficient policy is to earmark carbon revenue with competitive electricity price. We propose to use carbon revenue to reduce consumption tax in the first year of the introduction of carbon price and to use the carbon revenue to reduce production tax in following years. - Highlights: • We use a CGE model to assess the impacts of carbon pricing in China. • We test different scenarios of carbon cost pass-through in electricity price. • Carbon pricing policy cost-efficiency is examined with double-dividend hypothesis

  4. ACTS 2014

    DEFF Research Database (Denmark)

    Co-curator of ACTS 2014 together with Rasmus Holmboe, Judith Schwarzbart and Sanne Kofoed. ACTS is the Museum of Contemporary Art’s international bi-annual festival. ACTS was established in 2011 and, while the primary focus is on sound and performance art, it also looks toward socially oriented art....... For the 2014 festival, the museum has entered into a collaboration with the Department for Performance Design at Roskilde University – with continued focus on sound and performance art, and social art in public spaces. With ACTS, art moves out of its usual exhibition space and instead utilizes the city, its...... various possibilities and public spaces as a stage. ACTS takes place in and around the museum and diverse locations in Roskilde city. ACTS is partly curated by the museum staff and partly by guest curators. ACTS 2014 is supported by Nordea-fonden and is a part of the project The Museum goes downtown....

  5. Optimal public rationing and price response.

    Science.gov (United States)

    Grassi, Simona; Ma, Ching-To Albert

    2011-12-01

    We study optimal public health care rationing and private sector price responses. Consumers differ in their wealth and illness severity (defined as treatment cost). Due to a limited budget, some consumers must be rationed. Rationed consumers may purchase from a monopolistic private market. We consider two information regimes. In the first, the public supplier rations consumers according to their wealth information (means testing). In equilibrium, the public supplier must ration both rich and poor consumers. Rationing some poor consumers implements price reduction in the private market. In the second information regime, the public supplier rations consumers according to consumers' wealth and cost information. In equilibrium, consumers are allocated the good if and only if their costs are below a threshold (cost effectiveness). Rationing based on cost results in higher equilibrium consumer surplus than rationing based on wealth. Copyright © 2011 Elsevier B.V. All rights reserved.

  6. The Analysis of Differences in Residential Property Price Indices

    Directory of Open Access Journals (Sweden)

    Kokot Sebastian

    2014-10-01

    Full Text Available Residential property price indices can serve as a useful tool in the practice of real property market analysts, investment advisers, property developers, certified property appraisers, estate agents and managers. They can also be applied in property price valorization in specific legal positions. The Polish Act on Real Estate Management puts an obligation on the President of the Central Statistical Office to announce real property price indices, but the CSO fails to fulfill this obligation. The author’s rationale for this article is to contribute to works on rules of how to build property price indices. Presented within are the results of research on determining the price indices of such types of residential property as: a part of a building constituting a separate property and strata titles in housing cooperatives. The flats were divided into categories by floor area and by their location in 16 voivodeship capitals. The major purpose of the study is to prove that the prices of flats of different floor area change at different rates. Consequently, it seems worth considering whether a more detailed segmentation of the real estate market would be worthwhile for the sake of more accurate real property price indicators.

  7. 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

  8. Option pricing: a flexible tool to disseminate shared savings contracts.

    Science.gov (United States)

    Friedberg, Mark W; Buendia, Anthony M; Lauderdale, Katherine E; Hussey, Peter S

    2013-08-01

    Due to volatility in healthcare costs, shared savings contracts can create systematic financial losses for payers, especially when contracting with smaller providers. To improve the business case for shared savings, we calculated the prices of financial options that payers can "sell" to providers to offset these losses. Using 2009 to 2010 member-level total cost of care data from a large commercial health plan, we calculated option prices by applying a bootstrap simulation procedure. We repeated these simulations for providers of sizes ranging from 500 to 60,000 patients and for shared savings contracts with and without key design features (minimum savings thresholds,bonus caps, cost outlier truncation, and downside risk) and under assumptions of zero, 1%, and 2% real cost reductions due to the shared savings contracts. Assuming no real cost reduction and a 50% shared savings rate, per patient option prices ranged from $225 (3.1% of overall costs) for 500-patient providers to $23 (0.3%) for 60,000-patient providers. Introducing minimum savings thresholds, bonus caps, cost outlier truncation, and downside risk reduced these option prices. Option prices were highly sensitive to the magnitude of real cost reductions. If shared savings contracts cause 2% reductions in total costs, option prices fall to zero for all but the smallest providers. Calculating the prices of financial options that protect payers and providers from downside risk can inject flexibility into shared savings contracts, extend such contracts to smaller providers, and clarify the tradeoffs between different contract designs, potentially speeding the dissemination of shared savings.

  9. Pharmaceutical Pricing in Germany: How Is Value Determined within the Scope of AMNOG?

    Science.gov (United States)

    Lauenroth, Victoria Desirée; Stargardt, Tom

    To analyze how value is determined within the scope of the German Pharmaceutical Restructuring Act, which came into effect in 2011. Using data from all pharmaceuticals that had undergone assessment, appraisal, and price negotiations in Germany before June 30, 2016, we applied generalized linear model regression to analyze the impact of added benefit on the difference between negotiated prices and the prices of comparators. Data were extracted from the Federal Joint Committee's appraisals and price databases. We specified added benefit in various ways. In all models, we controlled for additional criteria such as size of patient population, European price levels, and whether the comparators were generic. Our regression results confirmed the descriptive results, with price premiums reflecting the extent of added benefit as appraised by the Federal Joint Committee. On the substance level, an added benefit was associated with an increase in price premium of 227.2% (P price premium of 377.5% (P price premium (624.3%; P Price premiums, or "value," are driven by health gain, the share of patients benefiting from a pharmaceutical, European price levels, and whether comparators are generic. No statement can be made, however, about the appropriateness of the level of price premiums. Copyright © 2017 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

  10. Estimating inpatient hospital prices from state administrative data and hospital financial reports.

    Science.gov (United States)

    Levit, Katharine R; Friedman, Bernard; Wong, Herbert S

    2013-10-01

    To develop a tool for estimating hospital-specific inpatient prices for major payers. AHRQ Healthcare Cost and Utilization Project State Inpatient Databases and complete hospital financial reporting of revenues mandated in 10 states for 2006. Hospital discharge records and hospital financial information were merged to estimate revenue per stay by payer. Estimated prices were validated against other data sources. Hospital prices can be reasonably estimated for 10 geographically diverse states. All-payer price-to-charge ratios, an intermediate step in estimating prices, compare favorably to cost-to-charge ratios. Estimated prices also compare well with Medicare, MarketScan private insurance, and the Medical Expenditure Panel Survey prices for major payers, given limitations of each dataset. Public reporting of prices is a consumer resource in making decisions about health care treatment; for self-pay patients, they can provide leverage in negotiating discounts off of charges. Researchers can also use prices to increase understanding of the level and causes of price differentials among geographic areas. Prices by payer expand investigational tools available to study the interaction of inpatient hospital price setting among public and private payers--an important asset as the payer mix changes with the implementation of the Affordable Care Act. © Published 2013. This article is a U.S. Government work and is in the public domain in the USA.

  11. Demonstration Project. Consumer reactions to peak prices

    International Nuclear Information System (INIS)

    Lindskoug, Stefan

    2006-06-01

    The purpose and aim of the project is to look at the risk of capacity shortage in the Swedish electricity supply system during excessively cold periods of weather. A risk that has increased in recent years. A growing number of analysts emphasize the importance of high spot prices actually leading to a reduction in demand. Through increased consumer sensitivity as regards pricing, the power system can be run safely with smaller generation reserves. In addition, market price fluctuation is estimated to become more stable and predictable. The purpose of the Demonstration Project is to demonstrate methods or business concepts that lead to the demand for electricity on a national level being reduced at times of high spot prices. The need for the measures to be profitable for the parties involved is an important starting point. A general problem associated with research and development projects is that the participants feel selected and special attention is paid them, hence they will make an extra effort to improve the results. We were aware of this fact when setting up the trials, which is why we introduced the trials as an offer from the electricity supplier to take part in a commercial assessment using a new price list. For this reason we concealed the marked research aim with Elforsk as a backer. Evaluating the results of questionnaires and detailed interviews does not give cause to suppose the results are in any way affected by such conditions. The conclusion of this project is that controlling load at the customer end is an economic alternative to the investment of new production resources

  12. Multiple stakeholders in road pricing: A game theoretic approach

    NARCIS (Netherlands)

    Ohazulike, Anthony; Still, Georg J.; Kern, Walter; van Berkum, Eric C.; Hausken, Kjell; Zhuang, Jun

    2015-01-01

    We investigate a game theoretic approach as an alternative to the standard multi-objective optimization models for road pricing. Assuming that various, partly conflicting traffic externalities (congestion, air pollution, noise, safety, etcetera) are represented by corresponding players acting on a

  13. 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)

  14. 76 FR 72986 - Options Price Reporting Authority; Notice of Filing and Immediate Effectiveness of Proposed...

    Science.gov (United States)

    2011-11-28

    ... SECURITIES AND EXCHANGE COMMISSION [Release No. 34-65795; File No. SR-OPRA-2011-04] Options Price... Implement the Datafeed Policy November 21, 2011. Pursuant to Section 11A of the Securities Exchange Act of... Options Price Reporting Authority (``OPRA'') submitted to the Securities and Exchange Commission...

  15. 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

  16. 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

  17. 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.

  18. 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

  19. 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....

  20. 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

  1. 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.

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

    International Nuclear Information System (INIS)

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

    2017-01-01

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

  3. 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.

  4. 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)

  5. Road pricing and its consequences for individual travel patterns

    DEFF Research Database (Denmark)

    Rich, Jeppe; Axhausen, Kay W.; Schönfelder, Stefan

    2007-01-01

    While mobility pricing is discussed as a suitable tool for tackling urban traffic problems, its impact on the travel pattern of individuals is largely unexplored. Individual responses to pricing emerge as a number of different changes. As an example, it involves the reduction in actual trip-makin...... the choice of destinations and the size and structure of activity spaces (employing measures developed for longitudinal travel data by Schönfelder and Axhausen).......While mobility pricing is discussed as a suitable tool for tackling urban traffic problems, its impact on the travel pattern of individuals is largely unexplored. Individual responses to pricing emerge as a number of different changes. As an example, it involves the reduction in actual trip...... used to simulate road pricing by displaying cost information for every trip driven. The experiment showed significant demand effects with a decrease in daily kilometres travelled between 0 and 40 per cent depending on the location and the pricing scheme; however, the deeper impacts on personal mobility...

  6. Obtaining fruit and vegetables for the lowest prices: pricing survey of different outlets and geographical analysis of competition effects.

    Science.gov (United States)

    Pearson, Amber L; Winter, Pieta R; McBreen, Ben; Stewart, Georgia; Roets, Rianda; Nutsford, Daniel; Bowie, Christopher; Donnellan, Niamh; Wilson, Nick

    2014-01-01

    Inadequate fruit and vegetable (F&V) consumption is an important dietary risk factor for disease internationally. High F&V prices can be a barrier to dietary intake and so to improve understanding of this topic we surveyed prices and potential competition between F&V outlet types. Over a three week early autumn period in 2013, prices were collected bi-weekly for 18 commonly purchased F&Vs from farmers' markets (FM) selling local produce (n = 3), other F&V markets (OFVM) (n = 5), supermarkets that neighbored markets (n = 8), and more distant supermarkets (n = 8), (in urban Wellington and Christchurch areas of New Zealand). Prices from an online supermarket were also collected. A total of 3120 prices were collected. Most F&Vs (13/18) were significantly cheaper at OFVMs than supermarkets. Over half of the F&Vs (10/18) were significantly cheaper at nearby compared to distant supermarkets, providing evidence of a moderate 'halo effect' in price reductions in supermarkets that neighbored markets. Weekend (vs midweek) prices were also significantly cheaper at nearby (vs distant) supermarkets, supporting evidence for a 'halo effect'. Ideal weekly 'food basket' prices for a two adult, two child family were: OFVMs (NZ$76), online supermarket ($113), nearby supermarkets ($124), distant supermarkets ($127), and FMs ($138). This represents a savings of $49 per week (US$26) by using OFVMs relative to (non-online) supermarkets. Similarly, a shift from non-online supermarkets to the online supermarket would generate a $13 saving. In these locations general markets appear to be providing some substantially lower prices for fruit and vegetables than supermarkets. They also appear to be depressing prices in neighboring supermarkets. These results, when supplemented by other needed research, may help inform the case for interventions to improve access to fruit and vegetables, particularly for low-income populations.

  7. Obtaining fruit and vegetables for the lowest prices: pricing survey of different outlets and geographical analysis of competition effects.

    Directory of Open Access Journals (Sweden)

    Amber L Pearson

    Full Text Available AIMS: Inadequate fruit and vegetable (F&V consumption is an important dietary risk factor for disease internationally. High F&V prices can be a barrier to dietary intake and so to improve understanding of this topic we surveyed prices and potential competition between F&V outlet types. METHODS: Over a three week early autumn period in 2013, prices were collected bi-weekly for 18 commonly purchased F&Vs from farmers' markets (FM selling local produce (n = 3, other F&V markets (OFVM (n = 5, supermarkets that neighbored markets (n = 8, and more distant supermarkets (n = 8, (in urban Wellington and Christchurch areas of New Zealand. Prices from an online supermarket were also collected. RESULTS: A total of 3120 prices were collected. Most F&Vs (13/18 were significantly cheaper at OFVMs than supermarkets. Over half of the F&Vs (10/18 were significantly cheaper at nearby compared to distant supermarkets, providing evidence of a moderate 'halo effect' in price reductions in supermarkets that neighbored markets. Weekend (vs midweek prices were also significantly cheaper at nearby (vs distant supermarkets, supporting evidence for a 'halo effect'. Ideal weekly 'food basket' prices for a two adult, two child family were: OFVMs (NZ$76, online supermarket ($113, nearby supermarkets ($124, distant supermarkets ($127, and FMs ($138. This represents a savings of $49 per week (US$26 by using OFVMs relative to (non-online supermarkets. Similarly, a shift from non-online supermarkets to the online supermarket would generate a $13 saving. CONCLUSIONS: In these locations general markets appear to be providing some substantially lower prices for fruit and vegetables than supermarkets. They also appear to be depressing prices in neighboring supermarkets. These results, when supplemented by other needed research, may help inform the case for interventions to improve access to fruit and vegetables, particularly for low-income populations.

  8. 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.

  9. 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)

  10. 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.

  11. 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.

  12. 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

  13. 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

  14. Determinants of price setting decisions on anti-malarial drugs at retail shops in Cambodia

    OpenAIRE

    Patouillard, Edith; Hanson, Kara; Kleinschmidt, Immo; Palafox, Benjamin; Tougher, Sarah; Pok, Sochea; O?Connell, Kate; Goodman, Catherine

    2015-01-01

    Background In many low-income countries, the private commercial sector plays an important role in the provision of malaria treatment. However, the quality of care it provides is often poor, with artemisinin combination therapy (ACT) generally being too costly for consumers. Decreasing ACT prices is critical for improving private sector treatment outcomes and reducing the spread of artemisinin resistance. Yet limited evidence exists on the factors influencing retailers? pricing decisions. This...

  15. 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)

  16. Higher fuel prices are associated with lower air pollution levels.

    Science.gov (United States)

    Barnett, Adrian G; Knibbs, Luke D

    2014-05-01

    Air pollution is a persistent problem in urban areas, and traffic emissions are a major cause of poor air quality. Policies to curb pollution levels often involve raising the price of using private vehicles, for example, congestion charges. We were interested in whether higher fuel prices were associated with decreased air pollution levels. We examined an association between diesel and petrol prices and four traffic-related pollutants in Brisbane from 2010 to 2013. We used a regression model and examined pollution levels up to 16 days after the price change. Higher diesel prices were associated with statistically significant short-term reductions in carbon monoxide and nitrogen oxides. Changes in petrol prices had no impact on air pollution. Raising diesel taxes in Australia could be justified as a public health measure. As raising taxes is politically unpopular, an alternative political approach would be to remove schemes that put a downward pressure on fuel prices, such as industry subsidies and shopping vouchers that give fuel discounts. Copyright © 2014 Elsevier Ltd. All rights reserved.

  17. PRICING OF BT COTTON SEEDS IN INDIA: THE DEBATE BEHIND

    Directory of Open Access Journals (Sweden)

    Anchal ARORA

    2014-11-01

    Full Text Available In 2006 the state government of Andhra Pradesh reduced the Bt cotton seed prices from Indian Rs1600 to Rs750 in order to make the technology affordable and accessible to small and marginal farmers in the state and also to prevent the monopolistic market structure in the seed market. The drastic reduction in seed prices, on the other hand could affect the profitability of seed providing companies and curb their incentives to innovate in future. Recent literature has also examined the impact of price controls on diffusion of technology, revenue and profitability of seed providers. It suggests that price controls have positively impacted the diffusion of technology in India, and were also successful in increasing the revenue of seed providers in the short run. However, the impact of price controls on profitability would depend on cost conditions. In the light of the above discussion, this article attempts to discuss the debate behind price controls and draws certain policy implications pertaining to pricing of Bt seeds, which has an international policy relevance.

  18. Insurer Market Power Lowers Prices In Numerous Concentrated Provider Markets.

    Science.gov (United States)

    Scheffler, Richard M; Arnold, Daniel R

    2017-09-01

    Using prices of hospital admissions and visits to five types of physicians, we analyzed how provider and insurer market concentration-as measured by the Herfindahl-Hirschman Index (HHI)-interact and are correlated with prices. We found evidence that in the range of the Department of Justice's and Federal Trade Commission's definition of a moderately concentrated market (HHI of 1,500-2,500), insurers have the bargaining power to reduce provider prices in highly concentrated provider markets. In particular, hospital admission prices were 5 percent lower and cardiologist, radiologist, and hematologist/oncologist visit prices were 4 percent, 7 percent, and 19 percent lower, respectively, in markets with high provider concentration and insurer HHI above 2,000, compared to such markets with insurer HHI below 2,000. We did not find evidence that high insurer concentration reduced visit prices for primary care physicians or orthopedists, however. The policy dilemma that arises from our findings is that there are no insurer market mechanisms that will pass a portion of these price reductions on to consumers in the form of lower premiums. Large purchasers of health insurance such as state and federal governments, as well as the use of regulatory approaches, could provide a solution. Project HOPE—The People-to-People Health Foundation, Inc.

  19. 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.

  20. 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...