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Sample records for prices equipment efficiencies

  1. An Analysis of Price Determination and Markups in the Air-Conditioning and Heating Equipment Industry

    Energy Technology Data Exchange (ETDEWEB)

    Dale, Larry; Millstein, Dev; Coughlin, Katie; Van Buskirk, Robert; Rosenquist, Gregory; Lekov, Alex; Bhuyan, Sanjib

    2004-01-30

    In this report we calculate the change in final consumer prices due to minimum efficiency standards, focusing on a standard economic model of the air-conditioning and heating equipment (ACHE) wholesale industry. The model examines the relationship between the marginal cost to distribute and sell equipment and the final consumer price in this industry. The model predicts that the impact of a standard on the final consumer price is conditioned by its impact on marginal distribution costs. For example, if a standard raises the marginal cost to distribute and sell equipment a small amount, the model predicts that the standard will raise the final consumer price a small amount as well. Statistical analysis suggest that standards do not increase the amount of labor needed to distribute equipment the same employees needed to sell lower efficiency equipment can sell high efficiency equipment. Labor is a large component of the total marginal cost to distribute and sell air-conditioning and heating equipment. We infer from this that standards have a relatively small impact on ACHE marginal distribution and sale costs. Thus, our model predicts that a standard will have a relatively small impact on final ACHE consumer prices. Our statistical analysis of U.S. Census Bureau wholesale revenue tends to confirm this model prediction. Generalizing, we find that the ratio of manufacturer price to final consumer price prior to a standard tends to exceed the ratio of the change in manufacturer price to the change in final consumer price resulting from a standard. The appendix expands our analysis through a typical distribution chain for commercial and residential air-conditioning and heating equipment.

  2. Energy Efficiency Policy and Carbon Pricing

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2011-07-01

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

  3. Appliance Efficiency Standards and Price Discrimination

    Energy Technology Data Exchange (ETDEWEB)

    Spurlock, Cecily Anna [Univ. of California, Berkeley, CA (United States)

    2013-05-08

    I explore the effects of two simultaneous changes in minimum energy efficiency and ENERGY STAR standards for clothes washers. Adapting the Mussa and Rosen (1978) and Ronnen (1991) second-degree price discrimination model, I demonstrate that clothes washer prices and menus adjusted to the new standards in patterns consistent with a market in which firms had been price discriminating. In particular, I show evidence of discontinuous price drops at the time the standards were imposed, driven largely by mid-low efficiency segments of the market. The price discrimination model predicts this result. On the other hand, in a perfectly competition market, prices should increase for these market segments. Additionally, new models proliferated in the highest efficiency market segment following the standard changes. Finally, I show that firms appeared to use different adaptation strategies at the two instances of the standards changing.

  4. Electric power transmission pricing regulations and efficiency

    International Nuclear Information System (INIS)

    Goldoni, G.

    1999-01-01

    An efficient-price mechanism for electricity transmission is very hard to find, essentially because of the natural monopoly condition of the grid and its peculiar interactions with generation. The use of Optimal Power Flow Models is difficult to implement and could be easily distorted by strategical behaviour of generators. These models, however, could became a valuable efficiency-test for actual transmission charges and codes [it

  5. Assistive technology pricing in Australia: is it efficient and equitable?

    Science.gov (United States)

    Summers, Michael P; Verikios, George

    2018-02-01

    Objective To examine available systematically collected evidence regarding prices for assistive technology (AT; e.g. disability aids and equipment) in Australia with other comparable countries. Issues of appropriate AT pricing are coming to the fore as a consequence of efforts to move to consumer-centric purchasing decisions with the National Disability Insurance Scheme (NDIS) and also in the recent aged care reforms. Methods We identified and present three sets of AT price comparisons. Two comparisons were based solely on the lowest prices advertised on the internet, and one comparison examined recommended retail prices. Variables essential to ensuring accurate comparisons, as well as significant supply-chain issues were also examined and considered in the analyses. Results The first internet-only price comparison found that overall AT prices were 38% higher in Australia compared to other countries, but did not factor in shipping and other related costs that are essential to include given that most AT is imported. The second internet-only price comparison found that overall Australian prices were 24% lower when shipping and related costs were included. The recommended retail price comparisons found that Australian prices were between 14% and 27% lower. Prices for internet-only retailers (those with no bricks-and-mortar presence) are consistently lower for all products than those sold by retailers with actual shop-fronts. Further, there is no evidence of suppliers earning supranormal profits in Australia. Conclusions The results indicate that AT prices in Australia are efficient and equitable, with no significant indicators of market failure which would require government intervention. Efforts to reduce prices through the excessive use of large-scale government procurement programs are likely to reduce diversity and innovation in AT and raise AT prices over time. Open markets and competition with centralised tracking of purchases and providers to minimise possible

  6. Price/efficiency correlations for 2004 photovoltaic modules

    International Nuclear Information System (INIS)

    Green, Martin A.

    2005-01-01

    The claim is often made that efficiency is a key factor in determining the marketability of photovoltaic products. If this is the case, a strong correlation between the price of modules and their efficiency might be expected. This relationship is investigated using module pricing data that have recently become available. Conclusions are that there is little correlation between module price and efficiency in this data set and that some thin-film modules currently appear to attract a pricing premium. (Author)

  7. Price regions and socio-economic efficiency

    International Nuclear Information System (INIS)

    2001-01-01

    In a market without market power, a system in which each node (small price regions) has its own price most effective. The loss when two nodes are combined into one price region is greater the more elastic the demand and supply curve is in the two regions and the more unequal the impact on the flow across the bottleneck is

  8. Value-based differential pricing: efficient prices for drugs in a global context.

    Science.gov (United States)

    Danzon, Patricia; Towse, Adrian; Mestre-Ferrandiz, Jorge

    2015-03-01

    This paper analyzes pharmaceutical pricing between and within countries to achieve second-best static and dynamic efficiency. We distinguish countries with and without universal insurance, because insurance undermines patients' price sensitivity, potentially leading to prices above second-best efficient levels. In countries with universal insurance, if each payer unilaterally sets an incremental cost-effectiveness ratio (ICER) threshold based on its citizens' willingness-to-pay for health; manufacturers price to that ICER threshold; and payers limit reimbursement to patients for whom a drug is cost-effective at that price and ICER, then the resulting price levels and use within each country and price differentials across countries are roughly consistent with second-best static and dynamic efficiency. These value-based prices are expected to differ cross-nationally with per capita income and be broadly consistent with Ramsey optimal prices. Countries without comprehensive insurance avoid its distorting effects on prices but also lack financial protection and affordability for the poor. Improving pricing efficiency in these self-pay countries includes improving regulation and consumer information about product quality and enabling firms to price discriminate within and between countries. © 2013 The Authors. Health Economics published by John Wiley & Sons Ltd.

  9. Evidence of efficiency in United States futures oil prices

    International Nuclear Information System (INIS)

    Duchock, C.J. Jr.

    1991-01-01

    The purpose of this study was to use the Perpetual Contract Data for West Texas Intermediate Crude Oil futures contracts in studies of the US crude oil futures market prices to determine whether the market was efficient. Analysis was done to determine whether the Perpetual Contract Data exhibited the characteristics of a random walk. Daily data on US crude oil perpetual futures contract prices were analyzed using standard statistical techniques and spectral analysis techniques. Spectral analysis was used on the first differences of daily data to determine whether the price change data contained cyclicality. Results showed no significant cycles or autocorrelation in the data, concluding there was evidence to indicate the Perpetual Contract Data for futures prices is a random walk. This is similar to the conclusion by Howard (1988) that spot West Texas Intermediate Crude prices follow a random walk. Thus, both the futures and spot markets efficiently capture current information in prices

  10. What can price volatility tell us about market efficiency? Conditional heteroscedasticity in historical commodity price series

    NARCIS (Netherlands)

    Földvári, P.; van Leeuwen, B.

    2011-01-01

    The development in the working of markets has been an important topic in economic history for decades. The volatility of market prices is often used as an indicator of market efficiency in the broadest sense. Yet, the way in which volatility is estimated often makes it difficult to compare price

  11. Efficient pricing and investment in electricity markets with intermittent resources

    International Nuclear Information System (INIS)

    Chao, Hung-po

    2011-01-01

    Facing growing technological and environmental challenges, the electricity industry needs effective pricing mechanism to promote efficient risk management and investment decisions. In a restructured electricity market with competitive wholesale prices and traditionally regulated retail rates, however, there are technical and institutional barriers that prevent dynamic pricing with price responsive demand. In regions with limited energy storage capacity, intermittent renewable resources present special challenges. This could adversely affect the effectiveness of public policies causing inefficient investments in energy technologies. In this paper, we present an updated economic model of pricing and investment in restructured electricity market and use the model in a simulation study for an initial assessment of renewable energy strategy and alternative pricing mechanisms. A key objective of the study is to shed light on the policy issues so that effective decisions can be made to improve efficiency. - Highlights: → Renewable resources present special challenges in regions with limited energy storage capacity. → This paper presents an updated economic model of pricing and investment in restructured electricity market. → A simulation study assesses renewable energy strategy and alternative pricing mechanisms. → The study results inform policy decisions to improve efficient investments in energy technologies.

  12. Energy prices, multiple structural breaks, and efficient market hypothesis

    Energy Technology Data Exchange (ETDEWEB)

    Lee, Chien-Chiang; Lee, Jun-De [Department of Applied Economics, National Chung Hsing University, Taichung (China)

    2009-04-15

    This paper investigates the efficient market hypothesis using total energy price and four kinds of various disaggregated energy prices - coal, oil, gas, and electricity - for OECD countries over the period 1978-2006. We employ a highly flexible panel data stationarity test of Carrion-i-Silvestre et al. [Carrion-i-Silvestre JL, Del Barrio-Castro T, Lopez-Bazo E. Breaking the panels: an application to GDP per capita. J Econometrics 2005;8:159-75], which incorporates multiple shifts in level and slope, thereby controlling for cross-sectional dependence through bootstrap methods. Overwhelming evidence in favor of the broken stationarity hypothesis is found, implying that energy prices are not characterized by an efficient market. Thus, it shows the presence of profitable arbitrage opportunities among energy prices. The estimated breaks are meaningful and coincide with the most critical events which affected the energy prices. (author)

  13. Energy prices, multiple structural breaks, and efficient market hypothesis

    International Nuclear Information System (INIS)

    Lee, Chien-Chiang; Lee, Jun-De

    2009-01-01

    This paper investigates the efficient market hypothesis using total energy price and four kinds of various disaggregated energy prices - coal, oil, gas, and electricity - for OECD countries over the period 1978-2006. We employ a highly flexible panel data stationarity test of Carrion-i-Silvestre et al. [Carrion-i-Silvestre JL, Del Barrio-Castro T, Lopez-Bazo E. Breaking the panels: an application to GDP per capita. J Econometrics 2005;8:159-75], which incorporates multiple shifts in level and slope, thereby controlling for cross-sectional dependence through bootstrap methods. Overwhelming evidence in favor of the broken stationarity hypothesis is found, implying that energy prices are not characterized by an efficient market. Thus, it shows the presence of profitable arbitrage opportunities among energy prices. The estimated breaks are meaningful and coincide with the most critical events which affected the energy prices. (author)

  14. Efficient Pricing of CPPI using Markov Operators

    OpenAIRE

    Louis Paulot; Xavier Lacroze

    2009-01-01

    Constant Proportion Portfolio Insurance (CPPI) is a strategy designed to give participation in a risky asset while protecting the invested capital. Some gap risk due to extreme events is often kept by the issuer of the product: a put option on the CPPI strategy is included in the product. In this paper we present a new method for the pricing of CPPIs and options on CPPIs, which is much faster and more accurate than the usual Monte-Carlo method. Provided the underlying follows a homogeneous pr...

  15. Relationship between efficiency and predictability in stock price change

    Science.gov (United States)

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

    2008-09-01

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

  16. Energy efficiency standards for residential and commercial equipment: Additional opportunities

    Energy Technology Data Exchange (ETDEWEB)

    Rosenquist, Greg; McNeil, Michael; Iyer, Maithili; Meyers, Steve; McMahon, Jim

    2004-08-02

    Energy efficiency standards set minimum levels of energy efficiency that must be met by new products. Depending on the dynamics of the market and the level of the standard, the effect on the market for a given product may be small, moderate, or large. Energy efficiency standards address a number of market failures that exist in the buildings sector. Decisions about efficiency levels often are made by people who will not be responsible for the energy bill, such as landlords or developers of commercial buildings. Many buildings are occupied for their entire lives by very temporary owners or renters, each unwilling to make long-term investments that would mostly reward subsequent users. And sometimes what looks like apathy about efficiency merely reflects inadequate information or time invested to evaluate it. In addition to these sector-specific market failures, energy efficiency standards address the endemic failure of energy prices to incorporate externalities. In the U.S., energy efficiency standards for consumer products were first implemented in California in 1977. National standards became effective starting in 1988. By the end of 2001, national standards were in effect for over a dozen residential appliances, as well as for a number of commercial sector products. Updated standards will take effect in the next few years for several products. Outside the U.S., over 30 countries have adopted minimum energy performance standards. Technologies and markets are dynamic, and additional opportunities to improve energy efficiency exist. There are two main avenues for extending energy efficiency standards. One is upgrading standards that already exist for specific products. The other is adopting standards for products that are not covered by existing standards. In the absence of new and upgraded energy efficiency standards, it is likely that many new products will enter the stock with lower levels of energy efficiency than would otherwise be the case. Once in the stock

  17. Actuarial pricing of energy efficiency projects: lessons foul and fair

    International Nuclear Information System (INIS)

    Mathew, Paul; Kromer, J. Stephen; Sezgen, Osman; Meyers, Steven

    2005-01-01

    Recent market convulsions in the energy industry have generated a plethora of post-mortem analyses on a wide range of issues, including accounting rules, corporate governance, commodity markets, and energy policy. While most of these analyses have focused on business practices related to wholesale energy trading, there has been limited analysis of retail energy services, particularly energy efficiency projects. We suggest that there were several business concepts and strategies in the energy efficiency arena whose inherent value may have been masked by the larger failure of companies such as Enron. In this paper, we describe one such concept, namely, actuarial pricing of energy efficiency projects, which leverages a portfolio-based approach to risk management. First, we discuss the business drivers, contrasting this approach with conventional industry practice. We then describe the implementation of this approach, including an actuarial database, pricing curves, and a pricing process compatible with commodity pricing. We conclude with a discussion of the prospects and barriers for the further development of transparent and quantifiable risk management products for energy efficiency, a prerequisite for developing energy efficiency as a tradeable commodity. We address these issues from an experiential standpoint, drawing mostly on our experience in developing and implementing such strategies at Enron

  18. Actuarial pricing of energy efficiency projects: lessons foul and fair

    Energy Technology Data Exchange (ETDEWEB)

    Mathew, Paul E-mail: pamathew@lbl.gov; Kromer, J. Stephen; Sezgen, Osman; Meyers, Steven

    2005-07-01

    Recent market convulsions in the energy industry have generated a plethora of post-mortem analyses on a wide range of issues, including accounting rules, corporate governance, commodity markets, and energy policy. While most of these analyses have focused on business practices related to wholesale energy trading, there has been limited analysis of retail energy services, particularly energy efficiency projects. We suggest that there were several business concepts and strategies in the energy efficiency arena whose inherent value may have been masked by the larger failure of companies such as Enron. In this paper, we describe one such concept, namely, actuarial pricing of energy efficiency projects, which leverages a portfolio-based approach to risk management. First, we discuss the business drivers, contrasting this approach with conventional industry practice. We then describe the implementation of this approach, including an actuarial database, pricing curves, and a pricing process compatible with commodity pricing. We conclude with a discussion of the prospects and barriers for the further development of transparent and quantifiable risk management products for energy efficiency, a prerequisite for developing energy efficiency as a tradeable commodity. We address these issues from an experiential standpoint, drawing mostly on our experience in developing and implementing such strategies at Enron.

  19. Price convergence and information efficiency in German natural gas markets

    International Nuclear Information System (INIS)

    Growitsch, Christian; Stronzik, Marcus; Nepal, Rabindra

    2012-01-01

    In 2007, Germany changed network access regulation in the natural gas sector and introduced a so-called entry-exit system. The re-regulation's spot market effects remain to be examined. We use cointegration analysis and a state space model with time-varying coefficients to study the development of natural gas spot prices in the two major trading hubs in Germany and the interlinked Dutch spot market. To analyse information efficiency in more detail, the state space model is extended to an error correction model. Overall, our results suggest a reasonable degree of price convergence between the corresponding hubs. However, allowing for time-variant adjustment processes, the remaining price differentials are only partly explained by transportation costs, indicating capacity constraints. Nonetheless, market efficiency in terms of information processing has increased considerably among Germany and The Netherlands.

  20. Price limits and stock market efficiency: Evidence from rolling bicorrelation test statistic

    International Nuclear Information System (INIS)

    Lim, Kian-Ping; Brooks, Robert D.

    2009-01-01

    Using the rolling bicorrelation test statistic, the present paper compares the efficiency of stock markets from China, Korea and Taiwan in selected sub-periods with different price limits regimes. The statistical results do not support the claims that restrictive price limits and price limits per se are jeopardizing market efficiency. However, the evidence does not imply that price limits have no effect on the price discovery process but rather suggesting that market efficiency is not merely determined by price limits.

  1. On the efficiency of the first price auction

    Czech Academy of Sciences Publication Activity Database

    Hernando-Veciana, Á.; Michelucci, Fabio

    2017-01-01

    Roč. 156, July (2017), s. 159-161 ISSN 0165-1765 Institutional support: Progres-Q24 Keywords : efficiency * first price auction * english auction Subject RIV: AH - Economics OBOR OECD: Economic Theory Impact factor: 0.558, year: 2016

  2. Effect of Energy Efficiency Standards on Natural Gas Prices

    Energy Technology Data Exchange (ETDEWEB)

    Carnall, Michael; Dale, Larry; Lekov, Alex

    2011-07-26

    A primary justification for the establishment of energy efficiency standards for home appliances is the existence of information deficiencies and externalities in the market for appliances. For example, when a long-term homeowner purchases a new gas-fired water heater, she will maximize the value of her purchase by comparing the life-cycle cost of ownership of available units, including both total installed cost - purchase price plus installation costs - and operating cost in the calculus. Choice of the appliance with the lowest life-cycle costs leads to the most economically efficient balance between capital cost and fuel cost. However, if the purchaser's expected period of ownership is shorter than the useful life of the appliance, or the purchaser does not pay for the fuel used by the appliance, as is often the case with rental property, fuel cost will be external to her costs, biasing her decision toward spending less on fuel efficiency and resulting in the purchase of an appliance with greater than optimal fuel usage. By imposing an efficiency standard on appliances, less efficient appliances are made unavailable, precluding less efficient purchases and reducing fuel usage. The reduction in fuel demanded by residential users affects the total demand for such fuels as natural gas, for example. Reduced demand implies that residential customers are willing to purchase less gas at each price level. That is, the demand curve, labeled D{sub 0} in Figure 1, shifts to the left to D{sub 1}. If there is no change in the supply function, the supply curve will intersect the demand curve at a lower price. Residential demand is only one component of the total demand for natural gas. It is possible that total demand will decline very little if demand in other sectors increases substantially in response to a decline in the price. If demand does decrease, modeling studies generally confirm the intuition that reductions in demand for natural gas will result in reductions

  3. Efficient dynamic scarcity pricing in urban water supply

    Science.gov (United States)

    Lopez-Nicolas, Antonio; Pulido-Velazquez, Manuel; Rougé, Charles; Harou, Julien J.; Escriva-Bou, Alvar

    2017-04-01

    Water pricing is a key instrument for water demand management. Despite the variety of existing strategies for urban water pricing, urban water rates are often far from reflecting the real value of the resource, which increases with water scarcity. Current water rates do not bring any incentive to reduce water use in water scarcity periods, since they do not send any signal to the users of water scarcity. In California, the recent drought has spurred the implementation of drought surcharges and penalties to reduce residential water use, although it is not a common practice yet. In Europe, the EU Water Framework Directive calls for the implementation of new pricing policies that assure the contribution of water users to the recovery of the cost of water services (financial instrument) while providing adequate incentives for an efficient use of water (economic instrument). Not only financial costs should be recovered but also environmental and resource (opportunity) costs. A dynamic pricing policy is efficient if the prices charged correspond to the marginal economic value of water, which increases with water scarcity and is determined by the value of water for all alternative uses in the basin. Therefore, in the absence of efficient water markets, measuring the opportunity costs of scarce water can only be achieved through an integrated basin-wide hydroeconomic simulation approach. The objective of this work is to design a dynamic water rate for urban water supply accounting for the seasonal marginal value of water in the basin, related to water scarcity. The dynamic pricing policy would send to the users a signal of the economic value of the resource when water is scarce, therefore promoting more efficient water use. The water rate is also designed to simultaneously meet the expected basic requirements for water tariffs: revenue sufficiency (cost recovery) and neutrality, equity and affordability, simplicity and efficiency. A dynamic increasing block rate (IBR

  4. The price of energy efficiency in the Spanish housing market

    International Nuclear Information System (INIS)

    Ayala, Amaia de; Galarraga, Ibon; Spadaro, Joseph V.

    2016-01-01

    The housing sector is a substantial consumer of energy, and therefore a focus for energy savings efforts. The Energy Performance of Buildings Directive (EPBD), introduced in 2002 and revised in 2010, is a key instrument to increase the energy performance of buildings across the European Union. Following the implementation of the EPBD into Spanish law, all properties offered for sale or rented out in Spain are required to have an Energy Performance Certificate (EPC). Given that the implementation of the EPC scheme for new, existing and advertised properties is still very low in Spain, unlike other European housing markets, the Spanish one lacks market data on energy efficiency (EE) labels and their impact on housing price. To overcome this gap, we determine the EE ratings of a sample of 1507 homes across Spain on the basis of information collected previously through household surveys. This allowed us to answer the question of whether or not, and to what extent, Spanish housing markets capitalise the value of EE. We apply the hedonic-price technique and observe that more energy efficient dwellings have a price-premium between 5.4% and 9.8% compared to those with the same characteristics but lower EE level. - Highlights: •The Spanish housing market lacks data on energy efficiency (EE) labels. •We determine the EE ratings of a sample of 1507 homes across Spain. •Homes labelled A, B and C account for less than 10% of the housing stock. •Energy efficient dwellings have a price-premium between 5.4% and 9.8%, ceteris paribus.

  5. Differential electricity pricing and energy efficiency in South Africa

    International Nuclear Information System (INIS)

    Kohler, Marcel

    2014-01-01

    By international standards the economy of South Africa is extremely energy intensive with only a few countries having higher intensities. SA's primary energy use per unit of GDP is amongst the highest in the world. The high energy and electricity intensity of the economy partly reflects SA's resource endowments (in particular the abundance of coal) but is also a function of the historical under-pricing of coal and electricity by the authorities. South African mining and industrial electricity efficiency is particularly concerning and considerably lower than the global average. This paper sets out to fill a significant gap in the South African energy literature by highlighting the importance of incorporating electricity demand factors as part of the country's energy policy and electricity planning horizon. The paper focuses its attention on modelling the electricity consumption of SA's industrial and mining sectors given these account for the lion's share of electricity demand. A differential electricity pricing policy which targets electricity intensive industrial and mining activities (as practised in China since 2004) is viewed by the author to be a superior policy to blanket electricity price increases administered by authorities in an effort to encourage electricity savings and improve energy efficiency in South Africa. - Highlights: • SA's primary energy use per unit of GDP is amongst the highest in the world. • SA industrial electricity efficiency is considerably lower than the global average. • A differential electricity pricing policy which targets electricity intensive activities. • Differential tariffs raise the cost of energy inefficiency and induces energy saving. • Highlights importance of energy demand modelling in electricity supply planning

  6. Decomposing price differentials due to ENERGY STARR labels and energy efficiency features in appliances: proxy for market share tracking?

    International Nuclear Information System (INIS)

    Gardner, John; Skumatz, Lisa A.

    2005-01-01

    This paper summarizes recent work using statistical methods to examine the portions of the apparent price differences for a variety of appliances that are attributable to efficiency labels or components of efficient measures. The work stems from research examining progress in market transformation. The goal was to monitor market progress in the premium associated with efficient equipment compared to standard equipment - and potentially track these changes (hopefully, according to logic, declining) over time. However, the incremental cost metric is always confounded by the fact that the 'feature bundle' on appliances and lighting is not consistent ( i.e. , many efficient products are loaded up with other, high-end features). Based on work conducted by the authors some years ago, we adapted statistical models to decompose the price differentials for efficient and standard refrigerators, clothes washers, and dish washers. The authors used site visits and web searches to gather data on appliance prices and features for a set of efficient and standard models. The authors first examined apparent (raw) price differentials between efficient and standard models. Then, using regression techniques to control for differences in features on the measures, the differences attributable to various features - and in particular to energy efficient features and logos - were estimated. The results showed that while the apparent (gross) price differences for efficient measures are high, the percentage and dollar differences decrease dramatically when the price differences statistically attributable to other features of the measure are accounted for. The work illustrates a promising approach for three important applications in program planning and evaluation: tracking market progress within and between states or service territories, using a proxy variable that is less expensive and complicated to measure than direct indicators of sales or market share, identifying appropriate levels for

  7. Smoothing the payoff for efficient computation of Basket option prices

    KAUST Repository

    Bayer, Christian

    2017-07-22

    We consider the problem of pricing basket options in a multivariate Black–Scholes or Variance-Gamma model. From a numerical point of view, pricing such options corresponds to moderate and high-dimensional numerical integration problems with non-smooth integrands. Due to this lack of regularity, higher order numerical integration techniques may not be directly available, requiring the use of methods like Monte Carlo specifically designed to work for non-regular problems. We propose to use the inherent smoothing property of the density of the underlying in the above models to mollify the payoff function by means of an exact conditional expectation. The resulting conditional expectation is unbiased and yields a smooth integrand, which is amenable to the efficient use of adaptive sparse-grid cubature. Numerical examples indicate that the high-order method may perform orders of magnitude faster than Monte Carlo or Quasi Monte Carlo methods in dimensions up to 35.

  8. Business Models, transparency and efficient stock price formation

    DEFF Research Database (Denmark)

    Nielsen, Christian; Vali, Edward; Hvidberg, Rene

    has an impact on a company's price formation. In this respect, we analysed whether those companies that publish a lot of information that may support a business model description tend to have a more efficient price formation. Next, we turned to our sample of companies, and via interview-based case...... studies, we managed to draw conclusions on how to construct a comprehensible business model description. The business model explains how the company intends to compete in its market, and thus it gives an account of the characteristics that make the company unique. The business model constitutes...... the platform from which the company prepares and unfolds its strategy. In order to explain this platform and its particular qualities to external interested parties, the description must provide a clear and explicit account of the main determinants of the company's value creation and explain how...

  9. Efficient Option Pricing under Levy Processes, with CVA and FVA

    Directory of Open Access Journals (Sweden)

    Jimmy eLaw

    2015-07-01

    Full Text Available We generalize the Piterbarg (2010 model to include 1 bilateral default risk as in Burgard and Kjaer (2012, and 2 jumps in the dynamics of the underlying asset using general classes of L'evy processes of exponential type. We develop an efficient explicit-implicit scheme for European options and barrier options taking CVA-FVA into account. We highlight the importance of this work in the context of trading, pricing and management a derivative portfolio given the trajectory of regulations.

  10. 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.

  11. The Pricing and Efficiency of Australian Treasury Bond Futures

    Directory of Open Access Journals (Sweden)

    Alex Frino

    2014-06-01

    Full Text Available This paper examines the efficiency of the Treasury Bond futures market in Australia. We provide a comprehensive explanation of the method used to price, and evaluate efficiency of the 3 and 10 Year Australian Treasury Bond Futures contracts, against underlying bond baskets. Results indicate that the futures contracts exhibit minimal variation from their theoretical value. The average mispricing equates to 1.96 basis points for 3 Year and 1.19 basis points for 10 Year government bond futures contracts. However, during some periods (including the financial crisis of 2008, the bond futures contracts exhibit greater mispricing. Consistent with prior literature, we find a decreasing pattern of mispricing towards expiry, with the futures contract yields and average forward yields of the underlying bonds converging towards expiry. Further analysis reveals that volatility and time to expiry exhibit a significant positive relationship with the absolute level of mispricing.

  12. Efficiency improvement of technological preparation of power equipment manufacturing

    Science.gov (United States)

    Milukov, I. A.; Rogalev, A. N.; Sokolov, V. P.; Shevchenko, I. V.

    2017-11-01

    Competitiveness of power equipment primarily depends on speeding-up the development and mastering of new equipment samples and technologies, enhancement of organisation and management of design, manufacturing and operation. Actual political, technological and economic conditions cause the acute need in changing the strategy and tactics of process planning. At that the issues of maintenance of equipment with simultaneous improvement of its efficiency and compatibility to domestically produced components are considering. In order to solve these problems, using the systems of computer-aided process planning for process design at all stages of power equipment life cycle is economically viable. Computer-aided process planning is developed for the purpose of improvement of process planning by using mathematical methods and optimisation of design and management processes on the basis of CALS technologies, which allows for simultaneous process design, process planning organisation and management based on mathematical and physical modelling of interrelated design objects and production system. An integration of computer-aided systems providing the interaction of informative and material processes at all stages of product life cycle is proposed as effective solution to the challenges in new equipment design and process planning.

  13. Overall equipment efficiency of Flexographic Printing process: A case study

    Science.gov (United States)

    Zahoor, S.; Shehzad, A.; Mufti, NA; Zahoor, Z.; Saeed, U.

    2017-12-01

    This paper reports the efficiency improvement of a flexographic printing machine by reducing breakdown time with the help of a total productive maintenance measure called overall equipment efficiency (OEE). The methodology is comprised of calculating OEE of the machine before and after identifying the causes of the problems. Pareto diagram is used to prioritize main problem areas and 5-whys analysis approach is used to identify the root cause of these problems. OEE of the process is improved from 34% to 40.2% for a 30 days time period. It is concluded that OEE and 5-whys analysis techniques are useful in improving effectiveness of the equipment and for the continuous process improvement as well.

  14. Using the Theory of Games to Modelling the Equipment and Prices of Car Parking

    Science.gov (United States)

    Parkitny, Waldemar

    2017-10-01

    In large cities there are two serious problems connected with increasing number of cars. The first problem is the congestion of vehicles’ movement. The second one is too small of car parks, especially in centres of the cities. Authorities of cities and management of municipal streets introduce limitations in vehicles’ movement and reduce the number of car parks to minimalize streets crowd. That acting seems logical, but this is only the one point of view. From the other point of view municipal governments should aim to improve the level of the occupants’ life and assure the financial incomes, which enable to cover indispensable expenses. From this point of view, the municipal car parks are needed and bringing the profits element of municipal infrastructure. Cracow, which is one of the largest cities in Poland (about 760 thousands of occupants, and Cracovian agglomeration is about 1.4 million persons), was chosen as the object of the investigations. The zone of paid parking in Cracow, administered by the company belonging to city, has possessed 28837 parking places in 28.01.2016. In the zone there are assigned car parks or parking places near to the curbs and on pavements. The zone operates from Monday to Friday, from 10.00 to 20.00. Assuming using car parks only in 50% and fare of about 0.7 euro per hour, we receive incomes figuring out about 740000 euro/month. The purpose of the investigations was the identification of technical parameters of car parks being preferred by drivers. The investigations had been executed by method of questionnaires. Next the mathematical model of competition was made. The model was executed basing on the theory of games. Strategies of “Player 1” were prices and technical equipment of car parks and parking places lying in the zone of paid parking, administered by municipal company. Strategies of “Player 2” were prices and technical equipment of car parks belonging to private owners and two commercial centres in the city

  15. Is the Internet making markets more efficient? The evidence according to price indicators in Spain

    OpenAIRE

    Sabaté i Garriga, Ferran; Cañabate Carmona, Antonio; Cobo Valeri, Erik; García, Dominie

    2009-01-01

    It has been theorized that low search costs associated with e-commerce imply greater levels of efficiency relative to the conventional retail channels. Multiple empirical studies confirm this hypothesis concerning price level, although the evidence is mixed relative to price dispersion. This article empirically compares the efficiency of the Internet with the conventional retail channel through 4 price indicators for the CD market. The results, based on 1,603 prices collected in Spain, are su...

  16. Economics : pricing, demand, and economic efficiency : a primer.

    Science.gov (United States)

    2008-11-01

    The Congestion Pricing Primer Series is part of : FHWAs outreach efforts to introduce the various : aspects of congestion pricing to decision-makers and : transportation professionals in the United States. The : primers are intended to lay out the...

  17. Smoothing the payoff for efficient computation of Basket option prices

    KAUST Repository

    Bayer, Christian; Siebenmorgen, Markus; Tempone, Raul

    2017-01-01

    We consider the problem of pricing basket options in a multivariate Black–Scholes or Variance-Gamma model. From a numerical point of view, pricing such options corresponds to moderate and high-dimensional numerical integration problems with non

  18. Efficient "Myopic" Asset Pricing in General Equilibrium: A Potential Pitfall in Excess Volatility Tests

    OpenAIRE

    Willem H. Buiter

    1987-01-01

    Excess volatility tests for financial market efficiency maintain the hypothesis of risk-neutrality. This permits the specification of the benchmark efficient market price as the present discounted value of expected future dividends. By departing from the risk-neutrality assumption in a stripped-down version of Lucas's general equilibrium asset pricing model, I show that asset prices determined in a competitive asset market and efficient by construction can nevertheless violate the variance bo...

  19. Energy efficiency subsidies with price-quality discrimination

    International Nuclear Information System (INIS)

    Nauleau, Marie-Laure; Giraudet, Louis-Gaëtan; Quirion, Philippe

    2015-01-01

    We compare various designs of energy efficiency subsidies in a market subject to both energy-use externalities and price-quality discrimination by a monopolist. We find that differentiated subsidies can establish the social optimum. Unlike per-quality regimes, ad valorem regimes generate downstream interferences: Subsidising of the high-end good leads the monopolist to reduce the quality of the low-end good. For this reason, ad valorem differentiated rates should always decrease with energy efficiency, a result seemingly at odds with actual practice. In contrast, with per-quality differentiated subsidies, the rates can increase if the externality is large enough relative to the market share of “low” type consumers. Contrary to differentiated subsidies, what we shall call single-instrument subsidies only achieve second-best outcomes. A uniform ad valorem subsidy should have a rate higher than that needed to specifically internalise energy-use externalities. Lastly, if, as is often observed in practice, only the high-end good is to be incentivised, a per-quality regime should be preferred to an ad valorem one. An ad valorem tax on the high-end good may even be preferred to an ad valorem subsidy if the externality is small enough and low-end consumers dominate the market.

  20. Efficient Pricing of Early : Exercise and Exotic Options Based on Fourier Cosine Expansions

    NARCIS (Netherlands)

    Zhang, B.

    2012-01-01

    In the financial world, two tasks are of prime importance: model calibration and portfolio hedging. For both tasks, efficient option pricing is necessary, particularly for the calibration where many options with different strike prices and different maturities need to be priced at the same time.

  1. The impact of energy prices on industrial energy efficiency and productivity

    International Nuclear Information System (INIS)

    Boyd, G.A.

    1993-01-01

    Energy prices moved into the forefront of concern in the mid and late seventies when two oil price shocks drove up energy prices dramatically. The analysis of the subsequent increase in industrial energy efficiency, i.e., decline in energy use per unit of industrial output, has filled volumes of government and private studies. Despite the volumes of analysis, there remains no consensus on the magnitude of the effect of energy prices on industrial energy efficiency or the effect of the change in energy prices on productivity. This paper examines some sources of the controversy to initiate a dialog between policy makers, analysts, and the energy consumers and producers

  2. ISSUES ON THE ROLE OF EFFICIENT WATER PRICING FOR SUSTAINABLE WATER MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Simona FRONE

    2012-06-01

    Full Text Available This paper aims to highlight some of the main issues raised by developing and implementing the most appropriate approach to water pricing, and to induce a sustainable water management. Therefore, we define the concept and utility of water demand management as one objective of efficient water pricing. Next we analyse the basic economics and some important theoretical insights of water pricing. We further with state the main four inter-correlated principles of sustainable water pricing (full-cost recovery, economic efficiency,equity and administrative feasability and the trends and challenges of their actual implementing in the water pricing policy of Romania and other EU countries. We end with a review of opinions, personal conclusions and recommendations on the actual opportunity, effectiveness and role of efficient water pricing in fulfilling the goals of sustainabilty.

  3. Technology Roadmaps: Energy-efficient Buildings: Heating and Cooling Equipment

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2011-07-01

    Buildings account for almost a third of final energy consumption globally and are an equally important source of CO2 emissions. Currently, both space heating and cooling as well as hot water are estimated to account for roughly half of global energy consumption in buildings. Energy-efficient and low/zero-carbon heating and cooling technologies for buildings have the potential to reduce CO2 emissions by up to 2 gigatonnes (Gt) and save 710 million tonnes oil equivalent (Mtoe) of energy by 2050. Most of these technologies -- which include solar thermal, combined heat and power (CHP), heat pumps and thermal energy storage -- are commercially available today. The Energy-Efficient Buildings: Heating and Cooling Equipment Roadmap sets out a detailed pathway for the evolution and deployment of the key underlying technologies. It finds that urgent action is required if the building stock of the future is to consume less energy and result in lower CO2 emissions. The roadmap concludes with a set of near-term actions that stakeholders will need to take to achieve the roadmap's vision.

  4. Method of determining the efficiency of price and non-price competition in service sector

    Directory of Open Access Journals (Sweden)

    Savel’eva Nadezhda

    2017-01-01

    Full Text Available With the end of 2014, the domestic banking system has serious difficulties with the availability of capital for lending and investment programs. Problems based on international political divisions, and their resolution lies in the distant future. in these circumstances, the government is concerned about the development of the Russian banking system in terms of ensuring their competitiveness in the international arena. foreign capital has always been a cheap resource for the domestic banking system, the problem area remains its state at the time of lifting of sanctions. Nowadays banks are forced to use different competition methods in target to adapt to environmental changes and ensure competitive success. So the development of methods for price and non-price competition has economic importance. Analysis of qualitative methodological foundations in banks service revealed strong background. Based on neoteric qualitative evaluation methodology, authors developed method for price and non-price competitiveness. It defines variables of price and non-price competitiveness, to set the value factors, to identify the closest competitors, and to set the position of a particular bank among other participants. It also helps to shape competitors dossier based on the evaluated score.

  5. Estimating the Efficiency and Impacts of Petroleum Product Pricing Reforms in China

    Directory of Open Access Journals (Sweden)

    Chuxiong Deng

    2018-04-01

    Full Text Available The efficiency and effects analysis of a new pricing mechanism would have significant policy implications for the further design of a pricing mechanism in an emerging market. Unlike most of the existing literature, which focuses on the impacts to the macro-economy, this paper firstly uses an econometrics model to discuss the efficiency of the new pricing mechanism, and then establishes an augmented Phillips curve to estimate the impact of pricing reform on inflation in China. The results show that: (1 the new pricing mechanism would strengthen the linkage between Chinese oil prices and international oil prices; (2 oil price adjustments are still inadequate in China. (3 The lag in inflation is the most important factor that affects inflation, while the impact of the Chinese government’s price adjustments on inflation is limited and insignificant. In order to improve the efficiency of the petroleum products pricing mechanism and shorten lags, government should shorten the adjustment period and diminish the fluctuation threshold.

  6. Price returns efficiency of the Shanghai A-Shares

    Science.gov (United States)

    Long, Wang Jiang; Jaaman, Saiful Hafizah; Samsudin, Humaida Banu

    2014-06-01

    Beta measured from the capital asset pricing model (CAPM) is the most widely used risk to estimate expected return. In this paper factors that influence Shanghai A-share stock return based on CAPM are explored and investigated. Price data of 312 companies listed on Shanghai Stock Exchange (SSE) from the year 2000 to 2011 are investigated. This study employed the Fama-MacBeth cross-sectional method to avoid weakness of traditional CAPM. In addition, this study improves the model by adjusting missing data. Findings of this study justifies that systematic risk can explain the portfolios' returns of China SSE stock market.

  7. Is the Internet making markets more efficient? The evidence according to price indicators in Spain

    Directory of Open Access Journals (Sweden)

    Ferran Sabate

    2009-04-01

    Full Text Available It has been theorized that low search costs associated with e-commerce imply greater levels of efficiency relative to the conventional retail channels. Multiple empirical studies confirm this hypothesis concerning price level, although the evidence is mixed relative to price dispersion. This article empirically compares the efficiency of the Internet with the conventional retail channel through 4 price indicators for the CD market. The results, based on 1,603 prices collected in Spain, are surprising. The conventional channel shows greater efficiency for both posted and final prices. These findings together with the coincident results of other reviewed studies would suggest key factors related to the development of e-commerce. Implications of the study and future considerations are discussed.

  8. Efficient Pricing of Derivatives on Assets with Discrete Dividends

    NARCIS (Netherlands)

    Vellekoop, M.H.; Nieuwenhuis, J.W.

    2006-01-01

    It is argued that due to inconsistencies in existing methods to approximate the prices of equity options on assets which pay out fixed cash dividends at future dates, a new approach to this problem may be useful. Logically consistent methods which are guaranteed to exclude arbitrage exist, but they

  9. Decomposing productivity growth allowing efficiency gains and price-induced technical progress

    NARCIS (Netherlands)

    Oude Lansink, A.G.J.M.; Silva, E.; Stefanou, S.

    2000-01-01

    Time- and firm-specific output technical efficiency measures are generated within a price-induced technological change framework. The firm-specific production frontier incorporates past prices as an argument encouraging innovation and a time trend to account for exogenous technical change. The

  10. How fast do stock prices adjust to market efficiency? Evidence from a detrended fluctuation analysis

    Science.gov (United States)

    Reboredo, Juan C.; Rivera-Castro, Miguel A.; Miranda, José G. V.; García-Rubio, Raquel

    2013-04-01

    In this paper we analyse price fluctuations with the aim of measuring how long the market takes to adjust prices to weak-form efficiency, i.e., how long it takes for prices to adjust to a fractional Brownian motion with a Hurst exponent of 0.5. The Hurst exponent is estimated for different time horizons using detrended fluctuation analysis-a method suitable for non-stationary series with trends-in order to identify at which time scale the Hurst exponent is consistent with the efficient market hypothesis. Using high-frequency share price, exchange rate and stock data, we show how price dynamics exhibited important deviations from efficiency for time periods of up to 15 min; thereafter, price dynamics was consistent with a geometric Brownian motion. The intraday behaviour of the series also indicated that price dynamics at trade opening and close was hardly consistent with efficiency, which would enable investors to exploit price deviations from fundamental values. This result is consistent with intraday volume, volatility and transaction time duration patterns.

  11. 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.

  12. Analyzing price and efficiency dynamics of large appliances with the experience curve approach

    International Nuclear Information System (INIS)

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

    2010-01-01

    Large appliances are major power consumers in households of industrialized countries. Although their energy efficiency has been increasing substantially in past decades, still additional energy efficiency potentials exist. Energy policy that aims at realizing these potentials faces, however, growing concerns about possible adverse effects on commodity prices. Here, we address these concerns by applying the experience curve approach to analyze long-term price and energy efficiency trends of three wet appliances (washing machines, laundry dryers, and dishwashers) and two cold appliances (refrigerators and freezers). We identify a robust long-term decline in both specific price and specific energy consumption of large appliances. Specific prices of wet appliances decline at learning rates (LR) of 29±8% and thereby much faster than those of cold appliances (LR of 9±4%). Our results demonstrate that technological learning leads to substantial price decline, thus indicating that the introduction of novel and initially expensive energy efficiency technologies does not necessarily imply adverse price effects in the long term. By extending the conventional experience curve approach, we find a steady decline in the specific energy consumption of wet appliances (LR of 20-35%) and cold appliances (LR of 13-17%). Our analysis suggests that energy policy might be able to bend down energy experience curves. (author)

  13. Research on the energy and ecological efficiency of mechanical equipment remanufacturing systems

    Science.gov (United States)

    Shi, Junli; Cheng, Jinshi; Ma, Qinyi; Wang, Yajun

    2017-08-01

    According to the characteristics of mechanical equipment remanufacturing system, the dynamic performance of energy consumption and emission is explored, the equipment energy efficiency and emission analysis model is established firstly, and then energy and ecological efficiency analysis method of the remanufacturing system is put forward, at last, the energy and ecological efficiency of WD615.87 automotive diesel engine remanufacturing system as an example is analyzed, the way of energy efficiency improvementnt and environmental friendly mechanism of remanufacturing process is put forward.

  14. Increasing efficiency and optimizing thermoelectric power plant equipment. Povyshenie effektivnosti i optimizatsiia teploenergeticheskikh ustanovok

    Energy Technology Data Exchange (ETDEWEB)

    Andriushchenko, A.I.

    1981-01-01

    The problems of increasing the efficiency and optimizing the operational conditions of a thermoelectric power plant and providing efficient operational conditions of the primary and auxillary equipment at a thermoelectric power plant are examined. Methodologies and designs for optimizing the primary parameters of the power-generating equipment based on economic factors are given. A number of recommendations for designing equipment based on the research results are given.

  15. Inherent Efficiency, Security Markets, and the Pricing of Investments Strategies

    NARCIS (Netherlands)

    Zou, L.; Kin, L.

    2000-01-01

    This paper applies the dichotomous theory of choice by Zou (2000a) tothe analysis of investmentstrategies and security markets. Issues concerning individualoptimality, (approximate) arbitrage,capital market equilibrium, and Pareto efficiency are studied undervarious market conditions. Among the main

  16. Estimation of Gasoline Price Elasticities of Demand for Automobile Fuel Efficiency in Korea: A Hedonic Approach

    Energy Technology Data Exchange (ETDEWEB)

    Lee, Sung Tae [Sungkyunkwan University, Seoul (Korea); Lee, Myunghun [Keimyung University, Taegu (Korea)

    2001-03-01

    This paper estimates the gasoline price elasticities of demand for automobile fuel efficiency in Korea to examine indirectly whether the government policy of raising fuel prices is effective in inducing less consumption of fuel, relying on a hedonic technique developed by Atkinson and Halvorsen (1984). One of the advantages of this technique is that the data for a single year, without involving variation in the price of gasoline, is sufficient in implementing this study. Moreover, this technique enables us to circumvent the multicollinearity problem, which had reduced reliability of the results in previous hedonic studies. The estimated elasticities of demand for fuel efficiency with respect to the price of gasoline, on average, is 0.42. (author). 30 refs., 3 tabs.

  17. Grinding efficiency improvement of hydraulic cylinders parts for mining equipment

    Directory of Open Access Journals (Sweden)

    Korotkov Aleksandr

    2017-01-01

    Full Text Available The aim of the article is to find out ways to improve parts treatment and components of mining equipment on the example of hydraulic cylinders parts, used as pillars for mine roof supports, and other actuator mechanisms. In the course of the research work methods of machine retaining devices design were used, the scientific approaches for the selection of progressive grinding schemes were applied; theoretical and practical experience in the design and production of new constructions of grinding tools was used. As a result of this work it became possible to create a progressive construction of a machine retaining device for grinding of large parts of hydraulic cylinders, to apply an effective scheme of rotary abrasive treatment, to create and implement new design of grinding tools by means of grains with controllable shape and orientation. Implementation of the results obtained in practice will improve the quality and performance of repairing and manufacturing of mining equipment.

  18. Production Decision Based on Discounted Price and Delivery Frequency for Garment Original Equipment Manufacturer with Constrained Capacity

    Institute of Scientific and Technical Information of China (English)

    HUO Yanfang; GU Yajie; HAN Lin; WANG Xize

    2017-01-01

    Original equipment manufacturers (OEM) have never been so important and powerful as it is today in garment manufacturing industry.The OEM supplier's production decisions always have a great impact on the market performance and the profits of a garment brand manufacturer.With constrained capacity and multiply buyers,how to make reasonable production decisions is an urgent problem for OEM suppliers.A price discount model with a single OEM supplier and two buyers is proposed to deal with the problem.Based on this model,the OEM supplier could satisfy buyers' demands and guarantee their profits as well through adjusting price and delivery frequency.A numerical example validates the validity of the model.

  19. 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.

  20. Cost efficiency with triangular fuzzy number input prices: An application of DEA

    International Nuclear Information System (INIS)

    Bagherzadeh Valami, H.

    2009-01-01

    The cost efficiency model (CE) has been considered by researchers as a Data Envelopment Analysis (DEA) model for evaluating the efficiency of DMUs. In this model, the possibility of producing the outputs of a target DMU is evaluated by the input prices of the DMU. This provides a criterion for evaluating the CE of DMUs. The main contribution of this paper is to provide an approach for generalizing the CE of DMUs when their input prices are triangular fuzzy numbers, where preliminary concepts of fuzzy theory and CE, are directly used.

  1. Opening and Closing Price Efficiency: Do Financial Markets need the Call Auction?

    OpenAIRE

    Ibikunle, Gbenga

    2015-01-01

    We model 73.62 million London Stock Exchange (LSE) trades and show that the LSE’s high rate of failure to open at the opening auction only relates to low volume stocks. Low volume stock traders avoid trading until the open; this seems connected to their evading the informed trading-dominated opening auction. For the largest volume stocks, the opening auction provides highly efficient opening prices, while the lower volume stocks attain similar levels of price efficiency only after the start o...

  2. Fair and efficient prices in traffic. Propositions on price policy for the sustainable development of traffic in Switzerland

    International Nuclear Information System (INIS)

    Maibach, M.; Ott, W.; Schreyer, Ch.

    2000-01-01

    Fair and efficient prices are a central topic in traffic policy, both at the EU level and in Switzerland. They should allow the efficient use of the infrastructure, set up fair terms of competition between road and rail traffic and reduce traffic loading. At the same time, they should also make it possible to finance traffic in a sustainable manner. One of the main directions of attack is letting those responsible pay the external costs which result from traffic jams, accidents and environmental pollution. With the planned introduction of the usage-dependent heavy traffic levy, Switzerland has made an important step in the direction of true cost-allocation for goods vehicles. As for the rest of road traffic, however, considerable external costs are still not covered. On the other hand, rail traffic is not able to cover its infrastructure costs itself in spite of compensation it receives for the provision of public services

  3. Fair and efficient prices in traffic. Propositions on price policy for the sustainable development of traffic in Switzerland

    International Nuclear Information System (INIS)

    Maibach, M.; Ott, W.; Schreyer, Ch.

    1999-01-01

    Fair and efficient prices are a central topic in traffic policy, both at the European Union level and in Switzerland. They should allow the efficient use of the infrastructure, set up fair terms of competition between road and rail traffic and reduce traffic loading. At the same time, they should also make it possible to finance traffic in a sustainable manner. One of the main directions of attack is letting those responsible pay the external costs which result from traffic jams, accidents and environmental pollution. With the planned introduction of the usage-dependent heavy traffic levy, Switzerland has made an important step in the direction of true cost-allocation for goods vehicles. As for the rest of road traffic, however, considerable external costs are still not covered. On the other hand, rail traffic is not able to cover its infrastructure costs itself in spite of compensation it receives for the provision of public services [de

  4. Can Deployment of Renewable Energy and Energy Efficiency PutDownward Pressure on Natural Gas Prices

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, Ryan; Bolinger, Mark

    2005-06-01

    High and volatile natural gas prices have increasingly led to calls for investments in renewable energy and energy efficiency. One line of argument is that deployment of these resources may lead to reductions in the demand for and price of natural gas. Many recent U.S.-based modeling studies have demonstrated that this effect could provide significant consumer savings. In this article we evaluate these studies, and benchmark their findings against economic theory, other modeling results, and a limited empirical literature. We find that many uncertainties remain regarding the absolute magnitude of this effect, and that the reduction in natural gas prices may not represent an increase in aggregate economic wealth. Nonetheless, we conclude that many of the studies of the impact of renewable energy and energy efficiency on natural gas prices appear to have represented this effect within reason, given current knowledge. These studies specifically suggest that a 1% reduction in U.S. natural gas demand could lead to long-term average wellhead price reductions of 0.8% to 2%, and that each megawatt-hour of renewable energy and energy efficiency may benefit natural gas consumers to the tune of at least $7.5 to $20.

  5. A Study on the efficient alleviation of domestic oil price at international oil crisis

    Energy Technology Data Exchange (ETDEWEB)

    Lee, Young Ku [Korea Energy Economics Institute, Euiwang (Korea)

    1999-01-01

    For alleviating domestic oil price when the international oil crisis happens, the government has been reacted directly such as using stored oil or alleviation fund. Although the release of stored oil works for short-term depending on the type of crisis, concerning that most of oil crisis had been resulted in temporary supply reduction rather than long-term supply suspension, utilizing the domestic alleviation fund is regarded more economical than storing oil. However, it has been suggested to compare efficiencies of alleviation fund and a futures market regarding the perspectives that using alleviation fund is more inefficient than utilizing a futures market. Moreover, the direct management by government is less efficient than indirect management. As an efficient way to alleviate domestic oil price at international oil crisis, this study presents an effective utilization of trading in futures of crude oil. There is a high probability of occurrence of this kind of oil crisis by judging from the world political situation and the trend of oil market. In such a case, the government as a crude oil importer should minimize the stored oil and utilize a futures market effectively. The subject of alleviating oil price by trading in futures is an oil supplier, such as oil refining companies or oil importers not the government as a prerequisite. Furthermore, the government should approve to include appropriate cost for preparing oil price alleviation in the oil price and it is required that such a government policy should be consistent. (author). 41 refs., 3 figs., 15 Tabs.

  6. 78 FR 54197 - Energy Efficiency Program for Commercial and Industrial Equipment: Energy Conservation Standards...

    Science.gov (United States)

    2013-09-03

    .... EERE-2013-BT-STD-0030] RIN 1904-AD01 Energy Efficiency Program for Commercial and Industrial Equipment: Energy Conservation Standards for Commercial Packaged Boilers AGENCY: Office of Energy Efficiency and..., Office of Energy Efficiency and Renewable Energy, Building Technologies Office, EE-2J, 1000 Independence...

  7. 78 FR 11996 - Energy Efficiency Program for Commercial and Industrial Equipment: Commercial and Industrial Pumps

    Science.gov (United States)

    2013-02-21

    .... EERE-2011-BT-STD-0031] RIN 1904-AC54 Energy Efficiency Program for Commercial and Industrial Equipment: Commercial and Industrial Pumps AGENCY: Office of Energy Efficiency and Renewable Energy, Department of... CONTACT: Mr. Charles Llenza, U.S. Department of Energy, Office of Energy Efficiency and Renewable Energy...

  8. Experience with Energy Efficiency Requirements for Electrical Equipment

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    This publication has been produced as part of the work programme in support of the Gleneagles Plan of Action (GPOA), where the IEA was requested to 'undertake a study to review existing global appliance standards and codes'. In accordance with the G8 request, this study investigates the coverage and impact of forms of minimum energy performance standards (MEPS) and comparative energy labelling programmes; which comprise the cornerstone of most IEA countries national energy efficiency strategy. This scope also reflects governments' aspirations to achieve ambitious targets for reducing greenhouse gas emissions. As a result, this study does not address endorsement labelling and associated voluntary programmes, although these are also important policy tools for national energy efficiency strategies.

  9. Designing efficient logging systems for northern hardwoods using equipment production capabilities and costs.

    Science.gov (United States)

    R.B. Gardner

    1966-01-01

    Describes a typical logging system used in the Lake and Northeastern States, discusses each step in the operation, and presents a simple method for designing and efficient logging system for such an operation. Points out that a system should always be built around the key piece of equipment, which is usually the skidder. Specific equipment types and their production...

  10. Efficiency evaluation of an electronic equipment: availability,reliability and maintenance

    International Nuclear Information System (INIS)

    Guyot, C.

    1966-01-01

    This concept of efficiency often called ''system effectiveness'', is presented and analyzed in terms of reliability and maintenance. It allows to define the availability factor of an electronic equipment. A procedure of evaluation is proposed. (A.L.B.)

  11. Optimal Tradable Credits Scheme and Congestion Pricing with the Efficiency Analysis to Congestion

    Directory of Open Access Journals (Sweden)

    Ge Gao

    2015-01-01

    Full Text Available We allow for three traffic scenarios: the tradable credits scheme, congestion pricing, and no traffic measure. The utility functions of different modes (car, bus, and bicycle are developed by considering the income’s impact on travelers’ behaviors. Their purpose is to analyze the demand distribution of different modes. A social optimization model is built aiming at maximizing the social welfare. The optimal tradable credits scheme (distribution of credits, credits charging, and the credit price, congestion pricing fees, bus frequency, and bus fare are obtained by solving the model. Mode choice behavior under the tradable credits scheme is also studied. Numerical examples are presented to demonstrate the model’s availability and explore the effects of the three schemes on traffic system’s performance. Results show congestion pricing would earn more social welfare than the other traffic measures. However, tradable credits scheme will give travelers more consumer surplus than congestion pricing. Travelers’ consumer surplus with congestion pricing is the minimum, which injures the travelers’ benefits. Tradable credits scheme is considered the best scenario by comparing the three scenarios’ efficiency.

  12. 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

  13. Is there a price premium for energy efficiency labels? Evidence from the Introduction of a Label in Korea

    International Nuclear Information System (INIS)

    Park, Ju Young

    2017-01-01

    This study examines the price premium from Korea's Energy Efficiency Grade Label. The Korean government recently began energy certification of televisions, providing a setting to analyze a possible price effect of the new label. Hedonic regression results seem to show that a price premium exists for products with the Energy Efficiency Grade Label. However, potential unobserved heterogeneity is a concern. Difference-in-difference and fixed-effects models are used to capture the net effect of the label by controlling for time and product differences. The results suggest that any price premium does not result from the energy efficiency label itself. Instead, energy-efficient products already had higher prices before the introduction of the energy efficiency label. The finding turns our attention to the importance of careful design of labeling programs. - Highlights: • The study examines the price premium from Korea's Energy Efficiency Grade Label. • Difference-in-difference and fixed-effects models are used to address potential unobserved heterogeneity and to capture the net effect of the label by controlling for time and product differences. • The result suggests that any price premium does not result from the energy efficiency label itself; instead, energy-efficient products already have higher prices before the introduction of the energy efficiency label. • The finding turns our attention to the importance of careful design of labeling programs.

  14. Quantifying the value that energy efficiency and renewable energy provide as a hedge against volatile natural gas prices

    Energy Technology Data Exchange (ETDEWEB)

    Bolinger, Mark; Wiser, Ryan; Bachrach, Devra; Golove, William

    2002-05-15

    Advocates of energy efficiency and renewable energy have long argued that such technologies can mitigate fuel price risk within a resource portfolio. Such arguments--made with renewed vigor in the wake of unprecedented natural gas price volatility during the winter of 2000/2001--have mostly been qualitative in nature, however, with few attempts to actually quantify the price stability benefit that these sources provide. In evaluating this benefit, it is important to recognize that alternative price hedging instruments are available--in particular, gas-based financial derivatives (futures and swaps) and physical, fixed-price gas contracts. Whether energy efficiency and renewable energy can provide price stability at lower cost than these alternative means is therefore a key question for resource acquisition planners. In this paper we evaluate the cost of hedging gas price risk through financial hedging instruments. To do this, we compare the price of a 10-year natural gas swap (i.e., what it costs to lock in prices over the next 10 years) to a 10-year natural gas price forecast (i.e., what the market is expecting spot natural gas prices to be over the next 10 years). We find that over the past two years natural gas users have had to pay a premium as high as $0.76/mmBtu (0.53/242/kWh at an aggressive 7,000 Btu/kWh heat rate) over expected spot prices to lock in natural gas prices for the next 10 years. This incremental cost to hedge gas price risk exposure is potentially large enough - particularly if incorporated by policymakers and regulators into decision-making practices - to tip the scales away from new investments in variable-price, natural gas-fired generation and in favor of fixed-price investments in energy efficiency and renewable energy.

  15. Quantifying the value that energy efficiency and renewable energy provide as a hedge against volatile natural gas prices

    International Nuclear Information System (INIS)

    Bolinger, Mark; Wiser, Ryan; Bachrach, Devra; Golove, William

    2002-01-01

    Advocates of energy efficiency and renewable energy have long argued that such technologies can mitigate fuel price risk within a resource portfolio. Such arguments-made with renewed vigor in the wake of unprecedented natural gas price volatility during the winter of 2000/2001-have mostly been qualitative in nature, however, with few attempts to actually quantify the price stability benefit that these sources provide. In evaluating this benefit, it is important to recognize that alternative price hedging instruments are available-in particular, gas-based financial derivatives (futures and swaps) and physical, fixed-price gas contracts. Whether energy efficiency and renewable energy can provide price stability at lower cost than these alternative means is therefore a key question for resource acquisition planners. In this paper we evaluate the cost of hedging gas price risk through financial hedging instruments. To do this, we compare the price of a 10-year natural gas swap (i.e., what it costs to lock in prices over the next 10 years) to a 10-year natural gas price forecast (i.e., what the market is expecting spot natural gas prices to be over the next 10 years). We find that over the past two years natural gas users have had to pay a premium as high as$0.76/mmBtu (0.53/242/kWh at an aggressive 7,000 Btu/kWh heat rate) over expected spot prices to lock in natural gas prices for the next 10 years. This incremental cost to hedge gas price risk exposure is potentially large enough - particularly if incorporated by policymakers and regulators into decision-making practices - to tip the scales away from new investments in variable-price, natural gas-fired generation and in favor of fixed-price investments in energy efficiency and renewable energy

  16. Transmission prices in the electric system. Technical constraints and economic efficiency

    International Nuclear Information System (INIS)

    Polidori, P.

    1999-01-01

    This article analyses the two main models at the core of today's theoretical discussion on transmission pricing in electricity sectors under competition. The first aim of the paper is showing how technical constraints that characterise transmission systems may affect energy production and transmission and therefore the definition of the price system for using the electric grid. The second aim of the paper is showing how it is possible to suggest solutions, although not free from limitations, that can be used for an efficient management of electric systems characterised by generation and consumption sectors under competition [it

  17. How the reverse supply chain enables original equipment manufacturers to compete on low price

    DEFF Research Database (Denmark)

    Larsen, Samuel; Jacobsen, Peter

    2015-01-01

    -attached services, the purpose of this paper is to examine the relationship between the firm’s RSC processes and overall operating costs. The paper asks the question of how a firm’s RSC processes enable continuous operating cost reductions. The paper’s research method combines a literature review of known RSC......Low price is perhaps the most widely present competitive parameter forcing firms to continuously reduce their operating costs. While much literature has investigated how firms can use their reverse supply chain (RSC) processes to comply with regulations or offer RSC-enabled product......-enabled cost reduction opportunities with a multiple case study that explores unknown opportunities. The most used cost reduction opportunity among the six firms in the study’s case sample is reducing operating costs by replacing purchasing of virgin materials and internal production with recovery of used...

  18. Influence of cable losses on the economic analysis of efficient and sustainable electrical equipment

    International Nuclear Information System (INIS)

    Lobão, J.A.; Devezas, T.; Catalão, J.P.S.

    2014-01-01

    Increasing energy needs are accompanied by environmental responsibilities, since nowadays electricity companies operate in a competitive and sustainable energy framework. In this context, any proposal for action on energy efficiency becomes important for consumers to minimize operational costs. In electrical installations, electricity consumption can be decreased by reducing losses in the cables, associated with the overall efficiency of the equipment, allowing a better use of the installed power. The losses must be analysed in conjunction with all loads that contribute to the currents in the sections of an electrical installation. When replacing equipment in output distribution boxes with more efficient ones, the current in those sections is reduced in association with the decrease in power losses. This decrease, often forgotten, is taken into account in this work for the economic analysis of efficiency and sustainable electrical equipment. This paper presents a new software application that compares and chooses the best investment in the acquisition of electrical equipment. Simulation results obtained with the new software application are provided and are then validated with experimental results from a real electrical installation. - Highlights: • Any proposal for action on energy efficiency is important for consumers. • Electricity consumption can be decreased by reducing losses in the cables. • A new software application that compares and chooses the best investment is provided. • The economic analysis of efficiency and sustainable electrical equipment is carried out. • Simulation results are validated with experimental results from a real electrical installation

  19. The role of efficiency estimates in regulatory price reviews: Ofgem's approach to benchmarking electricity networks

    International Nuclear Information System (INIS)

    Pollitt, Michael

    2005-01-01

    Electricity regulators around the world make use of efficiency analysis (or benchmarking) to produce estimates of the likely amount of cost reduction which regulated electric utilities can achieve. This short paper examines the use of such efficiency estimates by the UK electricity regulator (Ofgem) within electricity distribution and transmission price reviews. It highlights the place of efficiency analysis within the calculation of X factors. We suggest a number of problems with the current approach and make suggestions for the future development of X factor setting. (author)

  20. INCREASING OF ECOLOGICAL EFFICIENCY OF WORN EQUIPMENT BY PARTIAL UPDATES. ANALYTICAL AND CONTROL ASPECT

    Directory of Open Access Journals (Sweden)

    S. Voinova

    2017-12-01

    Full Text Available The current state of worn industrial equipment and the resulting low performance indicators of its functioning, in particular, low environmental friendliness, are considered. It is shown that the normalization of the complex situation that has developed in production is an acute problem, the solution of which should begin with the implementation of a program for the partial renewal of worn equipment. It is pointed out that there is a high potential for improving the technological, including ecological, efficiency of functioning of the upgraded equipment. It is pointed out that the partial renewal is highly efficient, because of the small specific investments in it. The significant influence of the quality of control of the setting and implementation of the renewal program on its effectiveness was noted. It is shown that the process of renewal of worn-out equipment, ultimately, has an environmental focus, increases the environmental friendliness of the updated technical facility.

  1. Is prevention of acute pesticide poisoning effective and efficient, with Locally Adapted Personal Protective Equipment?

    DEFF Research Database (Denmark)

    Varma, Anshu; Neupane, Dinesh; Ellekilde Bonde, Jens Peter

    2016-01-01

    BACKGROUND: Farmers' risk of pesticide poisoning can be reduced with personal protective equipment but in low-income countries farmers' use of such equipment is limited. OBJECTIVE: To examine the effectiveness and efficiency of Locally Adapted Personal Protective Equipment to reduce organophosphate...... exposure among farmers. METHODS: In a crossover study, 45 male farmers from Chitwan, Nepal, were randomly allocated to work as usual applying organophosphate pesticides wearing Locally Adapted Personal Protective Equipment or Daily Practice Clothing. For seven days before each experiment, each farmer.......08;0.06]. Wearing the Locally Adapted Personal Protective Equipment versus Daily Practice Clothing gave the following results, respectively: comfort 75.6% versus 100%, sense of heat 64.4% versus 31.3%, other problems 44.4% versus 33.3%, likeability 95.6% versus 77.8%. CONCLUSION: We cannot support the expectation...

  2. ARCH Models Efficiency Evaluation in Prediction and Poultry Price Process Formation

    Directory of Open Access Journals (Sweden)

    Behzad Fakari Sardehae

    2016-09-01

    . This study shows that the heterogeneous variance exists in error term and indicated by LM-test. Results and Discussion: Results showed that stationary test of the poultry price has a unit root and is stationary with one lag difference, and thus the price of poultry was used in the study by one lag difference. Main results showed that ARCH is the best model for fluctuation prediction. Moreover, news has asymmetric effect on poultry price fluctuation and good news has a stronger effect on poultry price fluctuation than bad news and leverage effect doesnot existin poultry price. Moreover current fluctuation does not transmit to future. One of the main assumptions of time series models is constant variance in estimated coefficients. If this assumption has not been, the estimated coefficients for the correlation between the serial data would be biased and results in wrong interpretation. The results showed that ARCH effects existed in error terms of poultry price and so the ARCH family with student t distribution should be used. Normality test of error term and exam of heterogeneous variance needed and lack of attention to its cause false conclusion. Result showed that ARCH models have good predictive power and ARMA models are less efficient than ARCH models. It shows that non-linear predictions are better than linear prediction. According to the results that student distribution should be used as target distribution in estimated patterns. Conclusion: Huge need for poultry, require the creation of infrastructure to response to demands. Results showed that change in poultry price volatility over time, may intensifies at anytime. The asymmetric effect of good and bad news in poultry price leading to consumer's reaction. The good news had significant effects on the poultry market and created positive change in the poultry price, but the bad news did not result insignificant effects. In fact, because the poultry product in the household portfolio is essential, it should not

  3. Least Squares Inference on Integrated Volatility and the Relationship between Efficient Prices and Noise

    OpenAIRE

    Nolte, Ingmar; Voev, Valeri

    2009-01-01

    The expected value of sums of squared intraday returns (realized variance)gives rise to a least squares regression which adapts itself to the assumptions ofthe noise process and allows for a joint inference on integrated volatility (IV),noise moments and price-noise relations. In the iid noise case we derive theasymptotic variance of the regression parameter estimating the IV, show thatit is consistent and compare its asymptotic efficiency against alternative consistentIV measures. In case of...

  4. Empirical Studies of Exchange Rates: Price Behavior, Rate Determinationand Market Efficiency

    OpenAIRE

    Richard M. Levich

    1983-01-01

    Theoretical and empirical research completed over the last decade has dramatically increased our understanding of exchange rate behavior. The major insight to come from this decade of research is that foreign exchange is a financial asset. In an asset pricing framework, current exchange rates reflect the expected values of future exogenous variables. The purpose of this paper is to survay the empirical evidence on exchange rate behavior, market efficiency and related topics. Section 2 present...

  5. Analysis of Marketing Channels and Price Effect to Rice Marketing Efficiency in Aceh, Indonesia

    OpenAIRE

    Yunus, Mukhlis; Syahputra, Hendra

    2013-01-01

    The objective of this study is to empirically explore the influence of marketing channels and price to rice marketing efficiency in Aceh Province, Indonesia. Six hundreds farmers' households from six districts of rice production base in Aceh were selected for the samples and analysed using the structural equation modelling (SEM). This study has been successfully documented how inefficient was the marketing of rice in Aceh because the farmers still tended to choose higher level of marketing ch...

  6. Does price efficiency increase with trading volume? Evidence of nonlinearity and power laws in ETFs

    Science.gov (United States)

    Caginalp, Gunduz; DeSantis, Mark

    2017-02-01

    Whether efficiency increases with increasing volume is an important issue that may illuminate trader strategies and distinguish between market theories. This relationship is tested using 124,236 daily observations comprising 68 large and liquid U.S. equity exchange traded funds (ETFs). ETFs have the advantage that efficiency can be measured in terms of the deviation between the trading price and the underlying net asset value that is reported each day. Our findings support the hypothesis that the relationship between volume and efficiency is nonlinear. Indeed, efficiency increases as volume increases from low to moderately high levels, but then decreases as volume increases further. The first part tends to support the idea that higher volume simply facilitates transactions and maintains efficiency, while the latter part, i.e., even higher volumes, supports the ansatz that increased volume is associated with increased speculation that ignores valuation and decreases efficiency. The results are consistent with the hypothesis that valuation is only part of the motivation for traders. Our methodology accounts for fund heterogeneity and contemporaneous correlations. Similar results are obtained when daily price volatility is introduced as an additional independent variable.

  7. Different Prices for Identical Products? Market Efficiency and the Virtual Location in B2C E-Commerce

    OpenAIRE

    Häring, Julia

    2003-01-01

    This paper analyses market efficiency and the role of the virtual location in digital markets using a data set containing more than 23,000 price observations from the online market for contact lenses as well as detailed information about online retailer and product characteristics. The data allow to implement and test the concept of virtual location. The empirical results reveal evidence for lower prices and less price dispersion among e-retailers in comparison to hybrid retailers, which supp...

  8. The importance of vehicle costs, fuel prices, and fuel efficiency to HEV market success.

    Energy Technology Data Exchange (ETDEWEB)

    Santini, D. J.; Patterson, P. D.; Vyas, A. D.

    1999-12-08

    Toyota's introduction of a hybrid electric vehicle (HEV) named ''Prius'' in Japan and Honda's proposed introduction of an HEV in the United States have generated considerable interest in the long-term viability of such fuel-efficient vehicles. A performance and cost projection model developed entirely at Argonne National Laboratory (ANL) is used here to estimate costs. ANL staff developed fuel economy estimates by extending conventional vehicle (CV) modeling done primarily under the National Cooperative Highway Research Program. Together, these estimates are employed to analyze dollar costs vs. benefits of two of many possible HEV technologies. We project incremental costs and fuel savings for a Prius-type low-performance hybrid (14.3 seconds zero to 60 mph acceleration, 260 time) and a higher-performance ''mild'' hybrid vehicle, or MHV (11 seconds 260 time). Each HEV is compared to a U.S. Toyota Corolla with automatic transmission (11 seconds 260 time). The base incremental retail price range, projected a decade hence, is $3,200-$3,750, before considering battery replacement cost. Historical data are analyzed to evaluate the effect of fuel price on consumer preferences for vehicle fuel economy, performance, and size. The relationship between fuel price, the level of change in fuel price, and consumer attitude toward higher fuel efficiency is also evaluated. A recent survey on the value of higher fuel efficiency is presented and U.S. commercial viability of the hybrids is evaluated using discount rates of 2090 and 870. Our analysis, with our current HEV cost estimates and current fuel savings estimates, implies that the U.S. market for such HEVS would be quite limited.

  9. Behavior of households equipped with fuel oil heating facing the petroleum price sudden increase in 2000; Le comportement des menages equipes de chauffage au fioul face a la brutale augmentation du prix du petrole en 2000

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2001-07-01

    This paper analyses the public attitudes facing the sudden increase of the fuel oil increase during the year 2000. This increase has got a great impact on the households equipped with fuel oil heating. The households adapted their strategy to obtain the best prices, to defer the deliveries or to reduce energy consumption by a improve of the heating performances. (A.L.B.)

  10. The Impact of Pre-closing Implementation to Price Efficiency in Indonesia Stock Exchange

    Directory of Open Access Journals (Sweden)

    Gilang Praditiyo

    2014-01-01

    Full Text Available Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} Indonesia Stock Exchange has really concerned about improving stock market quality these days. One of the effort is pre-closing trading session implementation. It refers to Decision of the Board of Directors of The Indonesia Stock Exchange Number Kep-00399/BEI/11-2012, regarding Amendment to Rule Number II-A concerning Equity-Type Securities Trading. The rule is effective on 2nd Januar, 2013 and Indonesia Stock Exchange has implemented it since that date. The purposes of pre-closing implementation are to mitigate marking the close, which is the practice of buying security at the very end of the trading day at a significantly higher price than the current price of the security, and to improve market quality. This paper attempts to veryfy whether the impact of pre-closing implementation to price efficiency is positive or not. The result shows that the pre-closing implementation has the positive impact to price efficiency. It reduces the return volatility and market manipulation at  the closing time which also means that the pre-closing implementation has effectively improved market quality in Indonesia Stock Exchange. Keywords:Pre-closing, price manipulation, marking the close, volatility, price efficiency.

  11. Systems analysis approach to the design of efficient water pricing policies under the EU water framework directive

    DEFF Research Database (Denmark)

    Riegels, Niels; Pulido-Velazquez, Manuel; Doulgeris, Charalampos

    2013-01-01

    management objectives. However, the design and implementation of economic instruments for water management, including water pricing, has emerged as a challenging aspect of WFD implementation. This study demonstrates the use of a systems analysis approach to designing and comparing two economic approaches......Economic theory suggests that water pricing can contribute to efficient management of water scarcity. The European Union (EU) Water Framework Directive (WFD) is a major legislative effort to introduce the use of economic instruments to encourage efficient water use and achieve environmental...... to efficient management of groundwater and surface water given EU WFD ecological flow requirements. Under the first approach, all wholesale water users in a river basin face the same volumetric price for water. This water price does not vary in space or in time, and surface water and groundwater are priced...

  12. Monitoring of energy efficiency of technological modes of gas transport using modern gas-turbine equipment

    Science.gov (United States)

    Golik, V. V.; Zemenkova, M. Yu; Shipovalov, A. N.; Akulov, K. A.

    2018-05-01

    The paper presents calculations and an example of energy efficiency justification of the regimes of the equipment used. The engineering design of the gas pipeline in the part of monitoring the energy efficiency of a gas compressor unit (GCU) is considered. The results of the GCU characteristics and its components evaluation are described. The evaluation results of the energy efficiency indicators of the gas pipeline are presented. As an example of the result of the analysis, it is proposed to use gas compressor unit GCU-32 "Ladoga" because of its efficiency and cost effectiveness, in comparison with analogues.

  13. Generating efficiency: The power of price caps in the public and private Spanish electricity sectors

    International Nuclear Information System (INIS)

    Arocena, P.; Price, C.W.

    1999-01-01

    Economic regulation of firms with market power has placed increasing emphasis on incentive-based regulation such as price caps. The move to such regulation often coincides with a change of ownership, making it difficult to separate the incentive effects. We focus on the effect of regulation alone by analysing the imposition of price cap type regulation on both publicly and privately owned Spanish electricity generators in 1988, several years before three was any change of ownership. Our initial results indicate that the publicly owned generators are generally more efficient than the private ones, but that the effect of price caps is to increase the efficiency of private sector plants faster than those in the public sector. We introduce two novelties into the analysis: we incorporate levels of CO2 and NOx emissions; and we include declared plant availability as an output. The outcome is dependent on the choice of inputs and outputs, and we argue that our measures are more appropriate than traditional measures for a system of central despatch for generators facing environmental constraints. (au) 37 refs

  14. Efficient Pricing of European-Style Asian Options under Exponential Lévy Processes Based on Fourier Cosine Expansions

    NARCIS (Netherlands)

    Zhang, B.; Oosterlee, C.W.

    2013-01-01

    We propose an efficient pricing method for arithmetic and geometric Asian options under exponential Lévy processes based on Fourier cosine expansions and Clenshaw–Curtis quadrature. The pricing method is developed for both European style and American-style Asian options and for discretely and

  15. Improving the efficiency of thermal power equipment based on technologies using surfactants

    Science.gov (United States)

    Nikolaeva, L. A.; Zueva, O. S.

    2015-10-01

    The formation of deposits on the functional surfaces of the equipment of heating systems and their corrosion are one of the major energetic problems. To improve the operational efficiency of thermal power equipment, surface-active agents (surfactants) are widely used, which are applied for the treatment of the working surfaces before use, during use, to prevent the parking corrosion, as well as while performing periodic chemical cleanings of power equipment. The tests have been performed, and the technology of application of Auge Neo Ac 56 acid product (MAHIM, Kazan) has been developed, designed to remove mineral deposits and scale from cooling and boiler systems without mechanical influence on them and without disassembly of technological equipment.

  16. Retrospective evaluation of appliance price trends

    International Nuclear Information System (INIS)

    Dale, Larry; Antinori, Camille; McNeil, Michael; McMahon, James E.; Sydny Fujita, K.

    2009-01-01

    Real prices of major appliances (refrigerators, dishwashers, heating and cooling equipment) have been falling since the late 1970s despite increases in appliance efficiency and other quality variables. This paper demonstrates that historic increases in efficiency over time, including those resulting from minimum efficiency standards, incur smaller price increases than were expected by the Department of Energy (DOE) forecasts made in conjunction with standards. This effect can be explained by technological innovation, which lowers the cost of efficiency, and by market changes contributing to lower markups and economies of scale in production of higher efficiency units. We reach four principal conclusions about appliance trends and retail price setting: 1.For the past several decades, the retail price of appliances has been steadily falling while efficiency has been increasing. 2.Past retail price predictions made by the DOE analyses of efficiency standards, assuming constant prices over time, have tended to overestimate retail prices. 3.The average incremental price to increase appliance efficiency has declined over time. DOE technical support documents have typically overestimated this incremental price and retail prices. 4.Changes in retail markups and economies of scale in production of more efficient appliances may have contributed to declines in prices of efficient appliances

  17. Efficiency evaluation of an electronic equipment: availability,reliability and maintenance; Notion d'efficacite d'un equipement electronique: disponibilite, fiabilite et maintenabilite

    Energy Technology Data Exchange (ETDEWEB)

    Guyot, C

    1966-07-01

    This concept of efficiency often called ''system effectiveness'', is presented and analyzed in terms of reliability and maintenance. It allows to define the availability factor of an electronic equipment. A procedure of evaluation is proposed. (A.L.B.)

  18. Promoting high efficiency residential HVAC equipment: Lessons learned from leading utility programs

    Energy Technology Data Exchange (ETDEWEB)

    Neme, C.; Peters, J.; Rouleau, D.

    1998-07-01

    The Consortium for Energy Efficiency recently sponsored a study of leading electric utility efforts to promote high efficiency residential HVAC equipment. Given growing concerns from some utilities about the level of expenditures associated with rebate programs, special emphasis was placed on assessing the success of financing and other non-rebate options for promoting efficiency. Emphasis was also placed on review of efforts--rebate or otherwise--to push the market to very high levels of efficiency (i.e., SEER 13). This paper presents the results of the study. It includes discussion of key lessons from the utility programs analyzed. It also examines program participation rates and other potential indicators of market impacts. One notable conclusion is that several utility programs have pushed market shares for SEER 12 equipment to about 50% (the national average is less than 20%). At least one utility program has achieved a 50% market share for SEER 13 equipment (the national average is less than 3%). In general, financing does not appear to have as broad an appeal as consumer rebates. However, one unique utility program which combines the other of customer financing with modest incentives to contractors--in the form of frequent seller points that can be redeemed for advertising, technician training, travel and other merchandise--offers some promise that high participation rates can be achieved without customer rebates.

  19. Easing the natural gas crisis: Reducing natural gas prices through increased deployment of renewable energy and energy efficiency

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, Ryan; Bolinger, Mark; St. Clair, Matt

    2004-12-21

    Heightened natural gas prices have emerged as a key energy-policy challenge for at least the early part of the 21st century. With the recent run-up in gas prices and the expected continuation of volatile and high prices in the near future, a growing number of voices are calling for increased diversification of energy supplies. Proponents of renewable energy and energy efficiency identify these clean energy sources as an important part of the solution. Increased deployment of renewable energy (RE) and energy efficiency (EE) can hedge natural gas price risk in more than one way, but this paper touches on just one potential benefit: displacement of gas-fired electricity generation, which reduces natural gas demand and thus puts downward pressure on gas prices. Many recent modeling studies of increased RE and EE deployment have demonstrated that this ''secondary'' effect of lowering natural gas prices could be significant; as a result, this effect is increasingly cited as justification for policies promoting RE and EE. This paper summarizes recent studies that have evaluated the gas-price-reduction effect of RE and EE deployment, analyzes the results of these studies in light of economic theory and other research, reviews the reasonableness of the effect as portrayed in modeling studies, and develops a simple tool that can be used to evaluate the impact of RE and EE on gas prices without relying on a complex national energy model. Key findings are summarized.

  20. Natural gas and CO2 price variation: impact on the relative cost-efficiency of LNG and pipelines.

    Science.gov (United States)

    Ulvestad, Marte; Overland, Indra

    2012-06-01

    THIS ARTICLE DEVELOPS A FORMAL MODEL FOR COMPARING THE COST STRUCTURE OF THE TWO MAIN TRANSPORT OPTIONS FOR NATURAL GAS: liquefied natural gas (LNG) and pipelines. In particular, it evaluates how variations in the prices of natural gas and greenhouse gas emissions affect the relative cost-efficiency of these two options. Natural gas is often promoted as the most environmentally friendly of all fossil fuels, and LNG as a modern and efficient way of transporting it. Some research has been carried out into the local environmental impact of LNG facilities, but almost none into aspects related to climate change. This paper concludes that at current price levels for natural gas and CO 2 emissions the distance from field to consumer and the volume of natural gas transported are the main determinants of transport costs. The pricing of natural gas and greenhouse emissions influence the relative cost-efficiency of LNG and pipeline transport, but only to a limited degree at current price levels. Because more energy is required for the LNG process (especially for fuelling the liquefaction process) than for pipelines at distances below 9100 km, LNG is more exposed to variability in the price of natural gas and greenhouse gas emissions up to this distance. If the prices of natural gas and/or greenhouse gas emission rise dramatically in the future, this will affect the choice between pipelines and LNG. Such a price increase will be favourable for pipelines relative to LNG.

  1. A study on the test of efficiency of the diagnostic X-ray equipment according to their rectifications

    International Nuclear Information System (INIS)

    Seon, Jong Ryul

    1997-01-01

    For the efficient management of the diagnostic x-ray equipment, a nation-wide inspection of hospitals was performed by an inspection institute in Taejon in the first half of 1997. Among those hospitals inspected, 28 equipments(machines) which were over 500 mA were randomly selected according to their characteristics : 7 condenser type x-ray equipments, 7 three control phase of full wave rectification of type remote control x-ray equipments, 7 single phase of full wave rectification type for general radiography equipments, and 7 single phase of full wave rectification type of R/F equipments. We obtained the following results by conducting the experiment based on the efficiency of the equipments mentioned above. 1) When te equipments are analyzed, 2 out of 7 single phase of full wave rectification type of general radiography equipments(28.6%), 3 out of 7 single phase of full wave rectification type of R/F equipments(42.9%), 5 out of 7 three phase of full wave rectification type remote of control x-ray equipments(71.4%), and 4 out of 7 condenser type of x-ray equipments(57.1%) showed suitability. It proves the superiority of the three phase of full wave rectification type of remote control x-ray equipments. 2) From the overall analysis, only about 50% of the equipments(suitability of 14 out of 28) maintain the efficient management. Therefore, maintenance management of equipments is more necessary. If the efficiency of the x-ray equipment is uniformly maintained and managed to prevent the breakdown(trouble) beforehand especially through the continuous inspection of tube voltage, tube current, exposure time, and collimator, the financial loss and exposure dose to the patient, as well as the workers engaged in radiation, can be reduced for better medical service

  2. Willingness to pay and price elasticities of demand for energy-efficient appliances: Combining the hedonic approach and demand systems

    Energy Technology Data Exchange (ETDEWEB)

    Galarraga, Ibon, E-mail: ibon.galarraga@bc3research.org; Gonzalez-Eguino, Mikel, E-mail: mikel.gonzalez@bc3research.org; Markandya, Anil, E-mail: anil.markandya@bc3research.org

    2011-12-15

    This article proposes a combined approach for estimating willingness to pay for the attributes represented by energy efficiency labels and providing reliable price elasticities of demand (own and cross) for close substitutes (e.g. those with low energy efficiency and those with higher energy efficiency). This is done by using the results of the hedonic approach together with the Quantity Based Demand System (QBDS) model. The elasticity results obtained with the latter are then compared with those simulated using the Linear Almost Ideal Demand System (LA/AIDS). The methodology is applied to the dishwasher market in Spain: it is found that 15.6% of the final price is actually paid for the energy efficiency attribute. This accounts for about Euro 80 of the average market price. The elasticity results confirm that energy efficient appliances are more price elastic than regular ones. - Highlights: > The article shows a combined approach for estimating willingness to pay for energy efficiency labels and price elasticities. > The results of the hedonic approach is used together with the Quantity Based Demand System (QBDS) model. > The elasticity results are compared with those simulated using the Linear Almost Ideal Demand System (LA/AIDS). > The methodology is applied to the dishwasher market in Spain.

  3. A Global Review of Incentive Programs to Accelerate Energy-Efficient Appliances and Equipment

    Energy Technology Data Exchange (ETDEWEB)

    de la Rue du Can, Stephane; Phadke, Amol; Leventis, Greg; Gopal, Anand

    2013-08-01

    Incentive programs are an essential policy tool to move the market toward energy-efficient products. They offer a favorable complement to mandatory standards and labeling policies by accelerating the market penetration of energy-efficient products above equipment standard requirements and by preparing the market for increased future mandatory requirements. They sway purchase decisions and in some cases production decisions and retail stocking decisions toward energy-efficient products. Incentive programs are structured according to their regulatory environment, the way they are financed, by how the incentive is targeted, and by who administers them. This report categorizes the main elements of incentive programs, using case studies from the Major Economies Forum to illustrate their characteristics. To inform future policy and program design, it seeks to recognize design advantages and disadvantages through a qualitative overview of the variety of programs in use around the globe. Examples range from rebate programs administered by utilities under an Energy-Efficiency Resource Standards (EERS) regulatory framework (California, USA) to the distribution of Eco-Points that reward customers for buying efficient appliances under a government recovery program (Japan). We found that evaluations have demonstrated that financial incentives programs have greater impact when they target highly efficient technologies that have a small market share. We also found that the benefits and drawbacks of different program design aspects depend on the market barriers addressed, the target equipment, and the local market context and that no program design surpasses the others. The key to successful program design and implementation is a thorough understanding of the market and effective identification of the most important local factors hindering the penetration of energy-efficient technologies.

  4. Non-fiscal price incentives. The energy-efficiency impact of differentiated energy prices; Niet-fiscale prijsprikkels. Onderzoek naar het besparingseffect van gedifferentieerde energieprijzen

    Energy Technology Data Exchange (ETDEWEB)

    Leguijt, C.; Blom, M.B.J.; Schepers, B.L.; Warringa, G.E.A.

    2012-02-15

    An exploratory study has been carried out on the potential impact of non-fiscal energy incentives. The study will feed into the Dutch government policies on energy efficiency in the built environment. The study takes in both electricity and gas, and private dwellings as well as utility buildings. The following non-fiscal price incentives were considered: (1) consumer prices indexed to consumption volume; (2) consumer prices indexed to time of consumption; (3) the energy-efficiency impact of 'autonomous' increases in energy prices. The energy-efficiency effects of price changes (options 1 and 3) were calculated on the basis of price elasticities, while for option 2 use was made of the results of the Social Cost-Benefit Analysis of Smart Grids carried out by CE Delft in collaboration with KEMA. The conclusions of the study are as follows: (a) Although differentiating consumer prices by consumption volume may yield energy savings of up to 2%, this would require market agreements in breach of the competition rules underpinning the liberalised energy market. This option is therefore unfeasible via consumer prices; (b) The energy savings accruing from indexing consumer prices to time of consumption are uncertain, as the main impact will be a temporal shift in consumption. This option is highly feasible, as such differentiation will in all likelihood evolve of its own accord with the roll-out of smart meters and smart grids; (c) The energy-efficiency impact of autonomous energy price rises is 0.2 to 0.4% per annum [Dutch] CE Delft heeft in opdracht van het Ministerie van Binnenlandse Zaken en Koninkrijkrelaties (BZK) een verkenning uitgevoerd naar de mogelijkheden voor niet-fiscale energieprijsprikkels. De studie maakt onderdeel uit van het plan van aanpak energiebesparing gebouwde omgeving van BZK. De verkenning betreft zowel elektriciteit als gas, en zowel huishoudens als utiliteitbouw. De niet-fiscale prijsprikkels die zijn verkend betreffen: (1

  5. 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...

  6. MONITORING OF THE PERFORMANCE EFFICIENCY OF THE EQUIPMENT AT THE ENTERPRISES OF AVIATION INSTRUMENTATION

    Directory of Open Access Journals (Sweden)

    Petr P. Dobrov

    2016-01-01

    Full Text Available The article elaborates the proposals to improve the systems for monitoring performance of the equipment at the enterprises of aviation instrument. The relevance of the study due to the fact that the aviation instrument-making industry of the Russian Federation can play a role as a key factor in enhancing the competitiveness of the national economy. Currently, the global aviation market is fairly saturated, it competition is not between individual companies and between the aviation powers. The role of an efficient industrial production is largely dependent on the amount, structure, technical condition and the level of utilization of fixed assets. Specificity of high-tech high-tech production presupposes the existence of a specific fleet of expensive and unique equipment; a high degree of novelty products, single or small-scale type of production that determines the high cost of production of a unit of production; high demands on the staff . The paper noted that the production capacity is an essential tool for production planning process, which allows to determine the optimal work shifts Park main technological equipment and production program to justify the enterprises of sphere of aviation instrument. On the basis of the modification of OEE method, a stochastic model is proposed, which allows to display the efficiency of the productive capacity of the high-tech enterprises of sphere of aviation instrument in the form of multi-dimensional size and much more accurately identify the relationship between its elements.

  7. Price-Efficiency Relationship for Photovoltaic Systems on a Global Basis

    Directory of Open Access Journals (Sweden)

    Mehmet Sait Cengiz

    2015-01-01

    Full Text Available Solar energy is the most abundant, useful, efficient, and environmentally friendly source of renewable energy. In addition, in recent years, the capacity of photovoltaic electricity generation systems has increased exponentially throughout the world given an increase in the economic viability and reliability of photovoltaic systems. Moreover, many studies state that photovoltaic power systems will play a key role in electricity generation in the future. When first produced, photovoltaic systems had short lifetimes. Currently, through development, the technology lifecycle of photovoltaic systems has increased to 20–25 years. Studies showed that photovoltaic systems would be broadly used in the future, a conclusion reached by considering the rapidly decreasing cost of photovoltaic systems. Because price analysis is very important for energy marketing, in this study, a review of the cost potential factors on photovoltaic panels is realized and the expected cost potential of photovoltaic systems is examined considering numerous studies.

  8. Evaluation of China's local enforcement of energy efficiency standards and labeling programs for appliances and equipment

    International Nuclear Information System (INIS)

    Khanna, Nina Zheng; Zhou, Nan; Fridley, David; Fino-Chen, Cecilia

    2013-01-01

    Aims: This paper aims to evaluate local enforcement of China's mandatory appliance and equipment energy efficiency standards and labeling programs, two increasingly important policies for meeting national energy and carbon reduction targets. The expected energy savings of efficiency standards and labels can be fully realized only with strong enforcement to ensure compliance for all products sold. This paper provides comprehensive retrospective evaluation of the methodologies, results, progress and remaining challenges in pilot enforcement projects initiated in the absence of consistent national check-testing focused on energy efficiency. Scope: This paper's scope is focused on 2006–2009 pilot local check-tests conducted to verify appliance and equipment compliance with China's mandatory energy label and efficiency standards. Conclusions: This paper finds both improvement and some backsliding in compliance rates over time. Compared to earlier efforts, 2009 check-tests covered a wider regional and product scope but demonstrated greater variation in compliance rates. Labeling display and energy efficiency compliance was generally high across regions and most products, but lower compliance rates were observed in less economically developed regions and for lighting and industrial products. Based on these findings, areas for improvement in local awareness, product sampling methodology, check-testing tools and procedures are identified. - Highlights: • China's mandatory standards and labeling crucial to national energy saving goals. • China's 2006–2009 pilot efficiency check-testing for standards and labeling evaluated. • Wider geographic and product scope in 2009, but greater variation in compliance. • Generally high compliance, but lower rates for less economically developed region. • Local check-test capacity improving but methodological challenges remain

  9. Energy Efficiency Sector in Russia. Market Survey of Equipment and Services

    International Nuclear Information System (INIS)

    2006-02-01

    The aim of the present Survey is to give an insight of energy efficiency (EE) in Russia and to assess the demand for EE equipment and services in the energy sector. In the Survey the term 'Energy Efficiency' means the efficient generation, distribution and consumption of heat and power. The main EE measures are classified as recovery of sources of energy, measuring and controlling systems, optimal use of the equipment, modernisation, in-house energy generation and renewable energy sources. Chapter 3 gives an overview of the current situation of the Russian energy sector. The term 'energy sector' is used in the context of generation, distribution and consumption of heat and power. The infrastructure and the ownership of the energy sector are examined. In this chapter special attention is paid to the Power Sector Reform and how the Reform affects the development of EE in the Russian energy sector. Chapter 4 describes the current situation in EE, giving the reasons of inefficiency in energy use and possible solutions for improving. Chapter 5 presents a market research of equipment that could make a great input into EE development. The research has shown that the most promising opportunities for suppliers of EE equipment lie in the heat sector (generation, distribution, consumption). This chapter also describes the development of ESCOs (Energy Service Companies) in Russia. Chapter 6 gives an overview of domestic and foreign capital available to finance EE development. According to conventional market based incentives, end users invest into increasing their profits more intensively than into projects aiming at energy saving. That is mostly because energy is relatively cheap in Russia and the federal governmental policy does not stimulate EE development either. Chapter 7 on the market approach advises on steps that have to be taken and risks that need to be avoided in order to enter the Russian market successfully. It warns of the possible pitfalls on this way. Chapter 8

  10. The COS Method : An Efficient Fourier Method for Pricing Financial Derivatives

    NARCIS (Netherlands)

    Fang, F.

    2010-01-01

    When valuing and risk-managing financial derivatives, practitioners demand fast and accurate prices and sensitivities. Aside from the pricing of non-standard exotic financial derivatives, so-called plain vanilla European options form the basis for the calibration of financial models. As any pricing

  11. The effect of equipment efficiency on occurrence of non-conforming products in die casting

    Directory of Open Access Journals (Sweden)

    S. Borkowski

    2010-01-01

    Full Text Available This study focuses on determination of the relationships between equipment efficiency in casting machines and the level of quality. The determination was made based on coefficients of Total Productive Maintenance and r correlation coefficient. The degree at which break-downs and downtime affect the occurrence of non-conforming products was also evaluated. The goal of further investigations is to deter-mine the structure of downtime and finding which downtime types have greatest impact on the quality of die-casting products.

  12. INCREASING THE EFFICIENCY OF ENTERPRISES' MATERIAL AND TECHNICAL EQUIPMENT (in Russian

    Directory of Open Access Journals (Sweden)

    Victor NORDIN

    2014-07-01

    Full Text Available The article pointed out the desirability of use of the “process approach” to material and technical equipment of enterprise, which will link its processes and develop an effective management system. It is proposed a form of table (matrix to enter data into an electronic database. In addition, it is proposed to create a unified management system and a set of information about procurement activities with the efficiency assessment of the resource purchasing processes and their quality through comprehensive quality indicators.

  13. Ensuring Energy Efficient 5G User Equipment by Technology Evolution and Reuse

    DEFF Research Database (Denmark)

    Lauridsen, Mads; Berardinelli, Gilberto; Sørensen, Troels Bundgaard

    2014-01-01

    the features’ pros and cons in achieving high performance in terms of data rate and/or latency while limiting their effect on the UE power consumption. Based on the discussion we give general recommendations for an energy efficient 5G design in the context of a previously proposed RAT concept.......Research on fifth generation (5G) radio access technology (RAT) is ramping up, with the goal of significantly improving user data rates and latency compared to previous radio generations. While energy efficiency (EE) of the user equipment (UE) was not a key optimization parameter for the current...... standards, it is anticipated to become a distinguishing factor for 5G. In this paper, we analyze established and emerging technological solutions for features such as waveform, frame structure, duplexing and multiple antenna transmission from an EE perspective. Our contribution is to identify and discuss...

  14. 78 FR 79423 - Energy Efficiency Program for Industrial Equipment: Petition of CSA Group for Classification as a...

    Science.gov (United States)

    2013-12-30

    ... DEPARTMENT OF ENERGY Office of Energy Efficiency and Renewable Energy [Docket No. EERE-2013-BT-DET-0053] Energy Efficiency Program for Industrial Equipment: Petition of CSA Group for Classification as a Nationally Recognized Certification Program for Small Electric Motors AGENCY: Office of Energy Efficiency and...

  15. Max Tech and Beyond: Maximizing Appliance and Equipment Efficiency by Design

    Energy Technology Data Exchange (ETDEWEB)

    Desroches, Louis-Benoit; Garbesi, Karina

    2011-07-20

    It is well established that energy efficiency is most often the lowest cost approach to reducing national energy use and minimizing carbon emissions. National investments in energy efficiency to date have been highly cost-effective. The cumulative impacts (out to 2050) of residential energy efficiency standards are expected to have a benefit-to-cost ratio of 2.71:1. This project examined energy end-uses in the residential, commercial, and in some cases the industrial sectors. The scope is limited to appliances and equipment, and does not include building materials, building envelopes, and system designs. This scope is consistent with the scope of DOE's appliance standards program, although many products considered here are not currently subject to energy efficiency standards. How much energy could the United States save if the most efficient design options currently feasible were adopted universally? What design features could produce those savings? How would the savings from various technologies compare? With an eye toward identifying promising candidates and strategies for potential energy efficiency standards, the Max Tech and Beyond project aims to answer these questions. The analysis attempts to consolidate, in one document, the energy savings potential and design characteristics of best-on-market products, best-engineered products (i.e., hypothetical products produced using best-on-market components and technologies), and emerging technologies in research & development. As defined here, emerging technologies are fundamentally new and are as yet unproven in the market, although laboratory studies and/or emerging niche applications offer persuasive evidence of major energy-savings potential. The term 'max tech' is used to describe both best-engineered and emerging technologies (whichever appears to offer larger savings). Few best-on-market products currently qualify as max tech, since few apply all available best practices and components. The

  16. Review of energy efficiency CO2 and price policies and measures in EU countries and Norway in 2001

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2002-04-01

    For each countries of the European Union and the Norway, this document provides statistical data and analysis of the situation concerning the energy efficiency context, the measures and programs on the energy policy, the energy taxes and prices, the budget. (A.L.B.)

  17. Natural Gas and CO2 Price Variation: Impact on the Relative Cost-Efficiency of LNG and Pipelines

    OpenAIRE

    Øverland, Indra; Ulvestad, Marte

    2012-01-01

    This article develops a formal model for comparing the cost structure of the two main transport options for natural gas: liquefied natural gas (LNG) and pipelines. In particular, it evaluates how variations in the prices of natural gas and greenhouse gas emissions affect the relative cost-efficiency of these two options. Natural gas is often promoted as the most environmentally friendly of all fossil fuels, and LNG as a modern and efficient way of transporting it. Some research has been carri...

  18. Assessment and Decomposition of Total Factor Energy Efficiency: An Evidence Based on Energy Shadow Price in China

    Directory of Open Access Journals (Sweden)

    Peihao Lai

    2016-04-01

    Full Text Available By adopting an energy-input based directional distance function, we calculated the shadow price of four types of energy (i.e., coal, oil, gas and electricity among 30 areas in China from 1998 to 2012. Moreover, a macro-energy efficiency index in China was estimated and divided into intra-provincial technical efficiency, allocation efficiency of energy input structure and inter-provincial energy allocation efficiency. It shows that total energy efficiency has decreased in recent years, where intra-provincial energy technical efficiency drops markedly and extensive mode of energy consumption rises. However, energy structure and allocation improves slowly. Meanwhile, lacking an integrated energy market leads to the loss of energy efficiency. Further improvement of market allocation and structure adjustment play a pivotal role in the increase of energy efficiency.

  19. The effect of the downturn in oil prices on the relative efficiency of government expenditure in the GCC countries

    International Nuclear Information System (INIS)

    Metwally, M.M.; Perera, N.

    1995-01-01

    This paper tests a control model to discover the effect of the decline in oil prices on the relative efficiency of government expenditure in the member states of the Gulf Cooperation Council. The econometric analysis shows that as a consequence of the decline in oil prices, the GCC countries need a relatively higher proportional rate of growth in their government expenditure to maintain a given percentage of income growth in the long run. This may, however, prove difficult, which necessitates greater reliance on other means of control. (author)

  20. Developments in cooling technique. Energy efficient solutions incentivized by price increases; Ontwikkelingen in de koeltechniek. Energie-efficiente oplossingen door prijsstijgingen gestimuleerd

    Energy Technology Data Exchange (ETDEWEB)

    Van de Maarel-Sonneveld, K.; Van de Sande, C. [Nederlandse vereniging van ondernemingen op het gebied van de Koudetechniek en Luchtbehandeling NVKL, Zoetermeer (Netherlands)

    2012-04-15

    Due to tightening of European (environmental) laws and regulations there is an increasing trend in the development of installations and equipment with natural refrigerants and synthetic refrigerants (HFCs) that have low global warming potential. At the same time, the installations are also becoming more energy efficient. Due to increasing prices, it is worth making investments in for operators. [Dutch] Door aanscherping van Europese (milieu)wet- en regelgeving is er een stijgende trend in de ontwikkeling van installaties en apparatuur met natuurlijke koudemiddelen en synthetische koudemiddelen (HFK'S) met een laag aardopwarmingsvermogen of 'global warming potential'. Tegelijkertijd worden de installaties zelf energie-efficienter. Door de stijgende energieprijzen loont het voor exploitanten hierin te investeren.

  1. Economic efficiency of coal gasification in Poland in reference to the price of CO2 emission rights

    Directory of Open Access Journals (Sweden)

    Kopacz Michał

    2016-01-01

    Full Text Available The article presents the impact of prices of carbon dioxide on the economic efficiency of 14 coal gasification technologies employed for producing electricity, hydrogen and methanol measured with the use of NPV method. All technical, technological and economic assumptions in the assessment have been made for Polish conditions. The impact of CO2 prices were examined in the range of 30-200 PLN/Mg. The production capacity of the base technology corresponds with the fuel consumption of indicative coal having the calorific value of 20.5 GJ/Mg, used in the amount of 100 Mg/h. On the basis of the conducted research, with respect to all technical and economic assumptions, it can be stated that for the base scale there is a clear impact of prices of CO2 emission allowances above the 90 PLN/Mg CO2. Such a level of carbon dioxide prices makes the decision concerning construction of geological sequestration systems (CCS, carbon capture and storage worthwhile. This applies in particular to the production of electric energy. For the variants focused on hydrogen production there is a dominance of variants with CCS system only at the price exceeding 120 PLN/Mg CO2, and in the case of methanol such a situation occurs above 150 PLN/Mg CO2.

  2. Multifractality, efficiency analysis of Chinese stock market and its cross-correlation with WTI crude oil price

    Science.gov (United States)

    Zhuang, Xiaoyang; Wei, Yu; Ma, Feng

    2015-07-01

    In this paper, the multifractality and efficiency degrees of ten important Chinese sectoral indices are evaluated using the methods of MF-DFA and generalized Hurst exponents. The study also scrutinizes the dynamics of the efficiency of Chinese sectoral stock market by the rolling window approach. The overall empirical findings revealed that all the sectoral indices of Chinese stock market exist different degrees of multifractality. The results of different efficiency measures have agreed on that the 300 Materials index is the least efficient index. However, they have a slight diffidence on the most efficient one. The 300 Information Technology, 300 Telecommunication Services and 300 Health Care indices are comparatively efficient. We also investigate the cross-correlations between the ten sectoral indices and WTI crude oil price based on Multifractal Detrended Cross-correlation Analysis. At last, some relevant discussions and implications of the empirical results are presented.

  3. Energy-efficiency labels and standards: A guidebook for appliances, equipment and lighting

    Energy Technology Data Exchange (ETDEWEB)

    McMahon, James E.; Wiel, Stephen

    2001-02-16

    Energy-performance improvements in consumer products are an essential element in any government's portfolio of energy-efficiency and climate change mitigation programs. Governments need to develop balanced programs, both voluntary and regulatory, that remove cost-ineffective, energy-wasting products from the marketplace and stimulate the development of cost-effective, energy-efficient technology. Energy-efficiency labels and standards for appliances, equipment, and lighting products deserve to be among the first policy tools considered by a country's energy policy makers. The U.S. Agency for International Development (USAID) and the United Nations Foundation (UNF) recognize the need to support policy makers in their efforts to implement energy-efficiency standards and labeling programs and have developed this guidebook, together with the Collaborative Labeling and Appliance Standards Program (CLASP), as a primary reference. This guidebook was prepared over the course of the past year with significant contribution from the authors and reviewers mentioned previously. Their diligent participation has made this the international guidance tool it was intended to be. The lead authors would also like to thank the following individuals for their support in the development, production, and distribution of the guidebook: Marcy Beck, Elisa Derby, Diana Dhunke, Ted Gartner, and Julie Osborn of Lawrence Berkeley National Laboratory as well as Anthony Ma of Bevilacqua-Knight, Inc. This guidebook is designed as a manual for government officials and others around the world responsible for developing, implementing, enforcing, monitoring, and maintaining labeling and standards-setting programs. It discusses the pros and cons of adopting energy-efficiency labels and standards and describes the data, facilities, and institutional and human resources needed for these programs. It provides guidance on the design, development, implementation, maintenance, and evaluation of the

  4. The integrated design of building services by an equipped and eco-efficient module (MOTE2

    Directory of Open Access Journals (Sweden)

    Roberto Giordano

    2016-12-01

    Full Text Available The targets set out by European Directives concerning the energy savings in the construction sector refer both to building envelope and to its services. With regard to building services it is mandatory meeting requirements related to heating, cooling, lighting and ventilation. Building services take up a variable space in the buildings that cannot be considered anymore negligible and they would always be fully integrated into buildings. Equipped and Eco-efficient Technological Module (MOTE2 is a research project aimed at implementing the integration in a unique services cupboard of some building services: heating and cooling; domestic hot water; mechanical ventilation. The project was organized according to four main phases. In phase 1 a set of rules was defined matching requirements related to the energy efficiency to environmental building design standards. During the phase 2 six building models were studied in order to size the corresponding building services according to scenario analysis set down for existing buildings. In phase 3 the project was focused on designing the assembly among services. The cupboard design is like a Tetris® game through the planning of the best combination among services shape. Based on the drawings developed a first mock-up was built up and monitored. Finally, in phase 4 the paper deals with the MOTE2’s expected performances. Outlook and some conclusions point out the future steps of the research activities.

  5. Market efficiency, cross hedging and price forecasts: California's natural-gas markets

    International Nuclear Information System (INIS)

    Woo, C.K.; Olson, A.; Horowitz, I.

    2006-01-01

    An extensive North American pipeline grid that physically integrates individual natural-gas markets, in conjunction with economic ties binding the California markets to those at Henry Hub, Louisiana and the New York mercantile exchange via an array of financial instruments, suggests that the spot prices at Henry Hub will impact those in California. We verify the suggestion via a partial-adjustment regression model, thus affirming that California traders can exploit the cross-hedging opportunities made available to them via market integration with Henry Hub, and that they can accurately forecast the price they will have to pay to meet future demand based solely on the price of futures at Henry Hub and the price of a California natural-gas basis swaps contract. (author)

  6. Efficiancy of hydrogen peroxide for cleaning production areas and equipments in the radiopharmaceutical production

    Energy Technology Data Exchange (ETDEWEB)

    Baptista, Tatyana S.; Batista, Vanessa; Gomes, Antonio; Matsuda, Margareth; Fukumori, Neuza; Araujo, Elaine B. de, E-mail: tsbaptista@ipen.br [Instituto de Pesquisas Energeticas e Nucleares (IPEN/CNEN-SP), Sao Paulo, SP (Brazil)

    2013-07-01

    A great challenge in the radiopharmaceuticals production is to fulfill the Good Manufacturing Practices (GMPs), involving the validation of process and of all supporting activities such as cleaning and sanitization. The increasingly strict requirements for quality assurance system, with several norms and normative resolutions has led to a constant concern with programs and cleaning validation in pharmaceutical production. The main goal of GMP is to reduce risks inherent to pharmaceutical production, that is to reduce product contamination with microorganisms and cross-contamination. The basic requirements to prevent contamination is the development and implementation of efficient cleaning programs. In the case of clean rooms for the production of injectable radiopharmaceuticals, the requirement for cleaning programs is evidently higher due to the characteristics of these areas with hot cells for radioactive materials, where sterile radiopharmaceuticals are manipulated and distributed before administration to patients just after minutes or hours of its preparation. In the Radiopharmacy Department at IPEN it was established a cleaning program for clean rooms and hot cells using a hydrogen peroxide solution (20% proxitane alfa). The objective of this work was to assess effectiveness of this cleaning agent in reducing and/or eliminating microbial load in the clean rooms and equipment to acceptable levels in accordance with the current legislation. The analysis was conducted using results of the environmental monitoring program with and settling contact plates in clean rooms after the cleaning procedures. Furthermore, it was possible to evaluate the action of the sanitizing agent on the microbial population on the surface of equipment and clean rooms. It was also evaluated the best way to accomplish the cleaning program considering the dosimetric factor in each production process, as the main concern of pharmaceutical companies is the microbiological contamination, in

  7. Efficiancy of hydrogen peroxide for cleaning production areas and equipments in the radiopharmaceutical production

    International Nuclear Information System (INIS)

    Baptista, Tatyana S.; Batista, Vanessa; Gomes, Antonio; Matsuda, Margareth; Fukumori, Neuza; Araujo, Elaine B. de

    2013-01-01

    A great challenge in the radiopharmaceuticals production is to fulfill the Good Manufacturing Practices (GMPs), involving the validation of process and of all supporting activities such as cleaning and sanitization. The increasingly strict requirements for quality assurance system, with several norms and normative resolutions has led to a constant concern with programs and cleaning validation in pharmaceutical production. The main goal of GMP is to reduce risks inherent to pharmaceutical production, that is to reduce product contamination with microorganisms and cross-contamination. The basic requirements to prevent contamination is the development and implementation of efficient cleaning programs. In the case of clean rooms for the production of injectable radiopharmaceuticals, the requirement for cleaning programs is evidently higher due to the characteristics of these areas with hot cells for radioactive materials, where sterile radiopharmaceuticals are manipulated and distributed before administration to patients just after minutes or hours of its preparation. In the Radiopharmacy Department at IPEN it was established a cleaning program for clean rooms and hot cells using a hydrogen peroxide solution (20% proxitane alfa). The objective of this work was to assess effectiveness of this cleaning agent in reducing and/or eliminating microbial load in the clean rooms and equipment to acceptable levels in accordance with the current legislation. The analysis was conducted using results of the environmental monitoring program with and settling contact plates in clean rooms after the cleaning procedures. Furthermore, it was possible to evaluate the action of the sanitizing agent on the microbial population on the surface of equipment and clean rooms. It was also evaluated the best way to accomplish the cleaning program considering the dosimetric factor in each production process, as the main concern of pharmaceutical companies is the microbiological contamination, in

  8. Political economy constraints on carbon pricing policies: What are the implications for economic efficiency, environmental efficacy, and climate policy design?

    International Nuclear Information System (INIS)

    Jenkins, Jesse D.

    2014-01-01

    Economists traditionally view a Pigouvian fee on carbon dioxide and other greenhouse gas emissions, either via carbon taxes or emissions caps and permit trading (“cap-and-trade”), as the economically optimal or “first-best” policy to address climate change-related externalities. Yet several political economy factors can severely constrain the implementation of these carbon pricing policies, including opposition of industrial sectors with a concentration of assets that would lose considerable value under such policies; the collective action nature of climate mitigation efforts; principal agent failures; and a low willingness-to-pay for climate mitigation by citizens. Real-world implementations of carbon pricing policies can thus fall short of the economically optimal outcomes envisioned in theory. Consistent with the general theory of the second-best, the presence of binding political economy constraints opens a significant “opportunity space” for the design of creative climate policy instruments with superior political feasibility, economic efficiency, and environmental efficacy relative to the constrained implementation of carbon pricing policies. This paper presents theoretical political economy frameworks relevant to climate policy design and provides corroborating evidence from the United States context. It concludes with a series of implications for climate policy making and argues for the creative pursuit of a mix of second-best policy instruments. - Highlights: • Political economy constraints can bind carbon pricing policies. • These constraints can prevent implementation of theoretically optimal carbon prices. • U.S. household willingness-to-pay for climate policy likely falls in the range of $80–$200 per year. • U.S. carbon prices may be politically constrained to as low as $2–$8 per ton of CO 2 . • An opportunity space exists for improvements in climate policy design and outcomes

  9. 78 FR 33262 - Energy Efficiency Program for Commercial and Industrial Equipment: Public Meeting and...

    Science.gov (United States)

    2013-06-04

    ... information, costs or prices, market shares, or other commercial matters regulated by U.S. antitrust laws. A... Energy Policy and Conservation Act of 1975 (EPCA), Public Law 94-163 (42 U.S.C. 6291-6309) established...

  10. Efficient Execution of Microscopy Image Analysis on CPU, GPU, and MIC Equipped Cluster Systems.

    Science.gov (United States)

    Andrade, G; Ferreira, R; Teodoro, George; Rocha, Leonardo; Saltz, Joel H; Kurc, Tahsin

    2014-10-01

    High performance computing is experiencing a major paradigm shift with the introduction of accelerators, such as graphics processing units (GPUs) and Intel Xeon Phi (MIC). These processors have made available a tremendous computing power at low cost, and are transforming machines into hybrid systems equipped with CPUs and accelerators. Although these systems can deliver a very high peak performance, making full use of its resources in real-world applications is a complex problem. Most current applications deployed to these machines are still being executed in a single processor, leaving other devices underutilized. In this paper we explore a scenario in which applications are composed of hierarchical data flow tasks which are allocated to nodes of a distributed memory machine in coarse-grain, but each of them may be composed of several finer-grain tasks which can be allocated to different devices within the node. We propose and implement novel performance aware scheduling techniques that can be used to allocate tasks to devices. We evaluate our techniques using a pathology image analysis application used to investigate brain cancer morphology, and our experimental evaluation shows that the proposed scheduling strategies significantly outperforms other efficient scheduling techniques, such as Heterogeneous Earliest Finish Time - HEFT, in cooperative executions using CPUs, GPUs, and MICs. We also experimentally show that our strategies are less sensitive to inaccuracy in the scheduling input data and that the performance gains are maintained as the application scales.

  11. Efficiency of protective dermal equipment against silver nanoparticles with water aerosol

    International Nuclear Information System (INIS)

    Park, Junsu; Kwak, Byoung Kyu; Kim, Younghun; Yi, Jongheop

    2011-01-01

    Protective dermal equipment (PDE) should be provided for protecting against the penetration of nanomaterials into the skin in the workplace. It is important that workers utilize appropriate PDE with characteristics to accomplish this. During the liquid-phase process, nanomaterials are released with water aerosol, which can easily affect the health of workers. The efficiency of PDE in protecting workers against silver nanoparticles (AgNPs) aerosolized with water aerosol was evaluated. The rate of penetration of AgNPs with water aerosol through cleanroom wear was faster than that for a lab coat. This can be attributed to differences in the filling rate of water, as the result of differences in capillary force. Therefore, humidity appears to be a major factor in the rate of penetration of nanomaterials in the presence of water aerosol. Although no penetration was observed when disposable protective gloves were observed, the presence of AgNPs on the surface of gloves was clearly found. Based on these findings, recommendations for the safe use of PDE can now be made.

  12. Ensuring capacity adequacy during energy transition in mature power markets: a social efficiency comparison of scarcity pricing and capacity mechanism

    International Nuclear Information System (INIS)

    Petitet, Marie; Finon, Dominique; Janssen, Tanguy

    2016-01-01

    This paper analyses how a capacity market mechanism can address security of supply objectives in the case of an energy transition scenario which combines both high energy efficiency efforts which stabilise demand in a context of mature markets and rapid increase of renewables share. The exogenous entry of variable renewables introduces a new challenge in matter of security of supply during peak hours. To analyse this situation, power markets are simulated on the long term with a model based on System Dynamics modelling which integrates both new investment and closure decisions. This last trait is an originality of the model which is very relevant to study market maturity. The addition of a capacity mechanism in a market architecture with price cap is compared to scarcity pricing in different situations. Simulations are performed for two different cases: a case without any exogenous closure of existing power plants and a case with exogenous retirements which create a need of new investments. Under the assumption of a risk-neutral investor, the results indicate that compared to an energy-only market with price cap set at euro 3,000/MWh, energy-only with scarcity pricing and capacity mechanism are two efficient market designs to reach an acceptable level of loss of load. Besides, the results highlight that the advantage of one design on the other in terms of social efficiency depends on the future scenarios which are simulated. Moreover, the results illustrates that the three market designs lead to different level of risk for peaking units, suggesting that including risk aversion is a relevant further step in the modelling. (authors)

  13. Pricing for Efficiency, Equity, and Simplicity: A Model Policy for an Interlibrary Courier Service.

    Science.gov (United States)

    Gassler, Robert Scott

    1985-01-01

    Presents an example of a pricing policy for any interlibrary courier service which (1) calculates fixed, travelling, and stopping costs; (2) charges by how often the courier stops at each participating library; and (3) uses any subsidies for costs libraries cannot control. (CDD)

  14. Least Squares Inference on Integrated Volatility and the Relationship between Efficient Prices and Noise

    DEFF Research Database (Denmark)

    Nolte, Ingmar; Voev, Valeri

    The expected value of sums of squared intraday returns (realized variance) gives rise to a least squares regression which adapts itself to the assumptions of the noise process and allows for a joint inference on integrated volatility (IV), noise moments and price-noise relations. In the iid noise...

  15. Pricing of payment cards, competition, and efficiency : A possible guide for SEPA

    NARCIS (Netherlands)

    Bolt, Wilko; Schmiedel, Heiko

    2013-01-01

    This paper analyzes equilibrium pricing of payment cards and welfare consequences of payment card competition. In particular, we model competition between debit and credit cards. The paper argues that optimal consumer and merchant fees must take safety, income uncertainty, default risk, and the

  16. Efficiency Effects of Unit-based Pricing Systems and Institutional Choices of Waste Collection

    NARCIS (Netherlands)

    Dijkgraaf, E.; Gradus, R.H.J.M.

    2015-01-01

    Municipal residential waste costs are rising. Therefore, it is important to introduce measures that lower waste collection and disposal costs. Based on a large panel data set for the Netherlands we show that unit-based pricing systems are more important from a cost-minimizing point of view than the

  17. Use and efficiency of public transport: the effects of price and service measures

    NARCIS (Netherlands)

    Witbreuk, Marc; de Jong, L.; de Jong, Leo

    2001-01-01

    Like in many other countries in the Netherlands, , the government of the Nethertlands assigns public transport an important role in its transport policy. However, the costs of public transport do exceed the revenues of it. Price may be an important variable to both increase the use of public

  18. Pricing stock options under stochastic volatility and interest rates with efficient method of moments estimation

    NARCIS (Netherlands)

    Jiang, George J.; Sluis, Pieter J. van der

    1999-01-01

    While the stochastic volatility (SV) generalization has been shown to improve the explanatory power over the Black-Scholes model, empirical implications of SV models on option pricing have not yet been adequately tested. The purpose of this paper is to first estimate a multivariate SV model using

  19. Efficient pricing of Asian options under Lévy processes based on Fourier cosine expansions Part I : European-style products

    NARCIS (Netherlands)

    Zhang, B.; Oosterlee, C.W.

    2011-01-01

    We propose an efficient pricing method for arithmetic, and geometric, Asian options under Levy processes, based on Fourier cosine expansions and Clenshaw–Curtis quadrature. The pricing method is developed for both European–style and American–style Asian options, and for discretely and continuously

  20. Overall Equipment Efficiency (OEE Enhancement in Manufacture of Electronic Components & Boards Industry through Total Productive Maintenance Practices

    Directory of Open Access Journals (Sweden)

    Fam Soo-Fen

    2018-01-01

    Full Text Available In an environment of intense global competition, both creative and proven strategies need to be considered in order to bring about the effectiveness and efficiency in manufacturing operation. Total Productive Maintenance (TPM is one of the effective maintenance strategy in enhancing the equipment effectiveness and to achieve a significant competitive advantage. This research paper addresses the impact of three TPM pillars namely planned maintenance (PM, autonomous maintenance (AM and focused maintenance (FM on overall equipment effectiveness (OEE of die attach equipment in the production line of semiconductor industry. The effect of TPM on the OEE is also investigated depending on the equipment types, in where die attach process consist of two models-CANON and ESEC. The primary data was collected from an organization's database and was analysed by SPSS V23. The preliminary results of the analysis showed that the performance of OEE in ESEC is better than the CANON after the implementation of TPM. The analysis also showed that out of the three TPM practices deployed, planned maintenance of equipment by production and maintenance team played the biggest role in increasing the equipment effectiveness. In conclusion, this study provides insights the importance of implementing TPM in order to succeed in a highly demanding market arena.

  1. The potential for greenhouse gases mitigation in household sector of Iran: cases of price reform/efficiency improvement and scenario for 2000-2010

    International Nuclear Information System (INIS)

    Davoudpour, Hamid; Ahadi, Mohammad Sadegh

    2006-01-01

    Iran's demographic profile is sharply youth oriented and this upcoming generation's needs for employment and housing, coupled with low-energy efficiency vectors and consumption patterns, has created a constant rise in energy demand and greenhouse gas (GHGs) emissions in the residential sector. Improved energy efficiency as a national policy lynchpin for demand reduction and GHGs mitigation, has become commonplace. OPEC countries however, Iran included, suffer an obvious lack of consumer incentive because of low fuel prices. This study evaluates the twin impacts of price reform and efficiency programs on energy carriers' consumption and GHGs mitigation in the Iranian housing sector. For this purpose, the demand functions for energy carriers, has been developed by econometrics process models. The results reveal that price elasticity for electricity demand in the Constant Elasticity Model for the short-run while the long-run is -0.142 and -0.901, respectively. In the Variable Elasticity Model the 250% increase in electricity rates in the short-run resulted in a price elasticity change from -0.02 to -0.475, hence the 250% increase in electricity pricing for the long-run resulted in the price elasticity change from -0.15 to -2.0. Finally, aided by a Scenario-Based Approach the impact of fuel pricing and efficiency improvement in trends of energy demand and GHGs emission were assessed in a Scenarios Base, developed on two different cases of Business-as-Usual (BAU) and Management. The results indicate that in the BAU case between 2000 and 2011, the energy demand and CO 2 emission increases with an annual growth rate of 7.5% and 6.8%, respectively. Comparatively, if the energy carriers' price is increased to border price and energy efficiency programs are implemented, they will stimulate carriers' demand and CO 2 emissions growth rate decreases to 4.94% and 3.1%, respectively

  2. A computationally efficient electricity price forecasting model for real time energy markets

    International Nuclear Information System (INIS)

    Feijoo, Felipe; Silva, Walter; Das, Tapas K.

    2016-01-01

    Highlights: • A fast hybrid forecast model for electricity prices. • Accurate forecast model that combines K-means and machine learning techniques. • Low computational effort by elimination of feature selection techniques. • New benchmark results by using market data for year 2012 and 2015. - Abstract: Increased significance of demand response and proliferation of distributed energy resources will continue to demand faster and more accurate models for forecasting locational marginal prices. This paper presents such a model (named K-SVR). While yielding prediction accuracy comparable with the best known models in the literature, K-SVR requires a significantly reduced computational time. The computational reduction is attained by eliminating the use of a feature selection process, which is commonly used by the existing models in the literature. K-SVR is a hybrid model that combines clustering algorithms, support vector machine, and support vector regression. K-SVR is tested using Pennsylvania–New Jersey–Maryland market data from the periods 2005–6, 2011–12, and 2014–15. Market data from 2006 has been used to measure performance of many of the existing models. Authors chose these models to compare performance and demonstrate strengths of K-SVR. Results obtained from K-SVR using the market data from 2012 and 2015 are new, and will serve as benchmark for future models.

  3. 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...

  4. Alternative Fuel and Advanced Technology Commercial Lawn Equipment (Spanish version); Clean Cities, Energy Efficiency & Renewable Energy (EERE)

    Energy Technology Data Exchange (ETDEWEB)

    Nelson, Erik

    2015-06-01

    Powering commercial lawn equipment with alternative fuels or advanced engine technology is an effective way to reduce U.S. dependence on petroleum, reduce harmful emissions, and lessen the environmental impacts of commercial lawn mowing. Numerous alternative fuel and fuel-efficient advanced technology mowers are available. Owners turn to these mowers because they may save on fuel and maintenance costs, extend mower life, reduce fuel spillage and fuel theft, and demonstrate their commitment to sustainability.

  5. Estimating shadow prices and efficiency analysis of productive inputs and pesticide use of vegetable production

    NARCIS (Netherlands)

    Singbo, Alphonse G.; Lansink, Alfons Oude; Emvalomatis, Grigorios

    2015-01-01

    This paper analyzes technical efficiency and the value of the marginal product of productive inputs vis-a-vis pesticide use to measure allocative efficiency of pesticide use along productive inputs. We employ the data envelopment analysis framework and marginal cost techniques to estimate

  6. 76 FR 18428 - Energy Efficiency Program for Certain Commercial and Industrial Equipment: Test Procedures for...

    Science.gov (United States)

    2011-04-04

    ... Ice Makers AGENCY: Office of Energy Efficiency and Renewable Energy, Department of Energy. ACTION... this proposed rule may be submitted to Office of Energy Efficiency and Renewable Energy through the... Energy Efficiency and Renewable Energy, Building Technologies, EE-2J, 1000 Independence Avenue, SW...

  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. Modern Energy Markets Real-Time Pricing, Renewable Resources and Efficient Distribution

    CERN Document Server

    Kopsakangas-Savolainen, Maria

    2012-01-01

    Energy has moved to the forefront in terms of societal and economic development. Modern Energy Markets is a comprehensive, economically oriented, exploration of modern electricity networks from production and distribution to deregulation and liberalization processes. Updating previous work by the authors, different aspects are considered resulting in a complete and detailed picture of  the systems and characteristics of modern electricity markets. Modern Energy Markets provides clear detail whilst encompassing a broad scope of topics and includes: •A method to model energy production systems including the main characteristics of future demand side management, •Different applications of this model in nuclear and renewable energy scenarios, •An analysis of Real-Time Pricing of electricity and its potential effects across the market, and, •A discussion of the need for regulation in an easily monopolized industry. Engineering and Economics students alike will find that Modern Energy Markets is a succinct...

  9. 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...

  10. A highly efficient pricing method for European-style options based on Shannon wavelets

    NARCIS (Netherlands)

    L. Ortiz Gracia (Luis); C.W. Oosterlee (Cornelis)

    2017-01-01

    textabstractIn the search for robust, accurate and highly efficient financial option valuation techniques, we present here the SWIFT method (Shannon Wavelets Inverse Fourier Technique), based on Shannon wavelets. SWIFT comes with control over approximation errors made by means of sharp quantitative

  11. A Highly Efficient Shannon Wavelet Inverse Fourier Technique for Pricing European Options

    NARCIS (Netherlands)

    Ortiz-Gracia, Luis; Oosterlee, C.W.

    2016-01-01

    In the search for robust, accurate, and highly efficient financial option valuation techniques, we here present the SWIFT method (Shannon wavelets inverse Fourier technique), based on Shannon wavelets. SWIFT comes with control over approximation errors made by means of sharp quantitative error

  12. A highly efficient Shannon wavelet inverse Fourier technique for pricing European options

    NARCIS (Netherlands)

    L. Ortiz Gracia (Luis); C.W. Oosterlee (Cornelis)

    2016-01-01

    htmlabstractIn the search for robust, accurate, and highly efficient financial option valuation techniques, we here present the SWIFT method (Shannon wavelets inverse Fourier technique), based on Shannon wavelets. SWIFT comes with control over approximation errors made by means of

  13. Revenue and efficiency in multi-unit uniform-price auctions

    Czech Academy of Sciences Publication Activity Database

    Břeský, Michal

    2013-01-01

    Roč. 82, November (2013), s. 205-217 ISSN 0899-8256 R&D Projects: GA ČR(CZ) GAP402/11/1531 Institutional support: RVO:67985998 Keywords : multi-unit auction * multiple-object auction * market efficiency Subject RIV: AH - Economics Impact factor: 1.025, year: 2013

  14. Revenue and efficiency in multi-unit uniform-price auctions

    Czech Academy of Sciences Publication Activity Database

    Břeský, Michal

    -, č. 384 (2009), s. 1-39 ISSN 1211-3298 Institutional research plan: CEZ:MSM0021620846 Keywords : multi-unit auction * multiple-object auction * market efficiency * optimal selling mechanism Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp384.pdf

  15. Energy Savings Potential and Opportunities for High-Efficiency Electric Motors in Residential and Commercial Equipment

    Energy Technology Data Exchange (ETDEWEB)

    Goetzler, William [Navigant Consulting, Inc., Burlington, MA (United States); Sutherland, Timothy [Navigant Consulting, Inc., Burlington, MA (United States); Reis, Callie [Navigant Consulting, Inc., Burlington, MA (United States)

    2013-12-04

    This report describes the current state of motor technology and estimates opportunities for energy savings through application of more advanced technologies in a variety of residential and commercial end uses. The objectives of this report were to characterize the state and type of motor technologies used in residential and commercial appliances and equipment and to identify opportunities to reduce the energy consumption of electric motor-driven systems in the residential and commercial sectors through the use of advanced motor technologies. After analyzing the technical savings potential offered by motor upgrades and variable speed technologies, recommended actions are presented.

  16. Towards Efficient Energy Management of Smart Buildings Exploiting Heuristic Optimization with Real Time and Critical Peak Pricing Schemes

    Directory of Open Access Journals (Sweden)

    Sheraz Aslam

    2017-12-01

    Full Text Available The smart grid plays a vital role in decreasing electricity cost through Demand Side Management (DSM. Smart homes, a part of the smart grid, contribute greatly to minimizing electricity consumption cost via scheduling home appliances. However, user waiting time increases due to the scheduling of home appliances. This scheduling problem is the motivation to find an optimal solution that could minimize the electricity cost and Peak to Average Ratio (PAR with minimum user waiting time. There are many studies on Home Energy Management (HEM for cost minimization and peak load reduction. However, none of the systems gave sufficient attention to tackle multiple parameters (i.e., electricity cost and peak load reduction at the same time as user waiting time was minimum for residential consumers with multiple homes. Hence, in this work, we propose an efficient HEM scheme using the well-known meta-heuristic Genetic Algorithm (GA, the recently developed Cuckoo Search Optimization Algorithm (CSOA and the Crow Search Algorithm (CSA, which can be used for electricity cost and peak load alleviation with minimum user waiting time. The integration of a smart Electricity Storage System (ESS is also taken into account for more efficient operation of the Home Energy Management System (HEMS. Furthermore, we took the real-time electricity consumption pattern for every residence, i.e., every home has its own living pattern. The proposed scheme is implemented in a smart building; comprised of thirty smart homes (apartments, Real-Time Pricing (RTP and Critical Peak Pricing (CPP signals are examined in terms of electricity cost estimation for both a single smart home and a smart building. In addition, feasible regions are presented for single and multiple smart homes, which show the relationship among the electricity cost, electricity consumption and user waiting time. Experimental results demonstrate the effectiveness of our proposed scheme for single and multiple smart

  17. Efficient fully controlled up-to-date equipment for catalytic treatment of waste gases

    International Nuclear Information System (INIS)

    Dvorak, Radek; Stulir, Roman; Cagas, Pavel

    2007-01-01

    This paper describes research and development of a new unit for catalytic destruction of waste gases polluted mainly by volatile organic compounds (VOC), halogenated organic compounds (HOC) or carbon monoxide. Novel equipment has considerable advantages compared with commonly used arrangement (combustion chamber (catalytic reactor)-pipeline-heat exchanger). It is very compact and light and has the combustion chamber, catalytic reactor and heat exchanger integrated into one unit. Maximum utilizing heat losses in the combustion chamber and catalytic reactor is achieved. During the development of this unit experience from tests of previously developed equipment used for thermal treatment of waste gases was used, as well as from experimental studies of catalytic disposal of various VOC carried out in the newly built experimental unit. During the development calculation methods were created allowing design modifications of this unit for real industrial applications. The newly developed unit can be used in various branches of industry such as paint shops, refining plants, sewage treatment plants, food processing industry, pharmaceutical industry, but also in companies processing and transporting crude-oil or natural gas, etc

  18. The Transfer efficiency analysis and modeling technology of new non - contact power transmission equipment

    Directory of Open Access Journals (Sweden)

    Cao Shi

    2017-01-01

    Full Text Available Due to the shortcomings of current power transmission which is used in ultrasound - assisted machining and the different transfer efficiency caused by the related parameters of the electromagnetic converter, this paper proposes an analysis model of the new non-contact power transmission device with more stable output and higher transmission efficiency. Then By utilizing Maxwell finite element analysis software, this paper studies the law of the transfer efficiency of the new non-contact transformer and compares new type with traditional type with the method of setting the boundary conditions of non-contact power supply device. At last, combining with the practical application, the relevant requirements which have a certain reference value in the application are put forward in the actual processing.

  19. Ionization efficiency of a COMIC ion source equipped with a quartz plasma chamber

    International Nuclear Information System (INIS)

    Suominen, P.; Stora, T.; Sortais, P.; Medard, J.

    2012-01-01

    Increased ionization efficiencies of light noble gases and molecules are required for new physics experiments in present and future radioactive ion beam facilities. In order to improve these beams, a new COMIC-type ion source with fully quartz made plasma chamber was tested. The beam current stability is typically better than 1 % and beams are easily reproducible. The highest efficiency for xenon is about 15 %. However, the main goal is to produce molecular beam including radioactive carbon (in CO or CO 2 ), in which case the efficiency was measured to be only about 0.2%. This paper describes the experimental prototype and its performance and provides ideas for future development. This paper is followed by the associated poster. (authors)

  20. Economic potential of energy-efficient retrofitting in the Swiss residential building sector: The effects of policy instruments and energy price expectations

    International Nuclear Information System (INIS)

    Amstalden, Roger W.; Kost, Michael; Nathani, Carsten; Imboden, Dieter M.

    2007-01-01

    The aim of this paper is to analyse the profitability of energy-efficient retrofit investments in the Swiss residential building sector from the house owner's perspective. Different energy price expectations, policy instruments such as subsidies, income tax deduction and a carbon tax, as well as potential future cost degression of energy efficiency measures were taken into account. The discounted cash flow method was used for the investment analysis of different retrofit packages applied to a model building scheduled for renovation, i.e. a single-family house constructed between 1948 and 1975. The results show that present Swiss policy instruments push investments for energy-efficient retrofitting to profitability. Cost degression has a minor significance for investment profitability. However, the most relevant factor for the investment analysis is the expected energy price. Expecting a future fuel oil price at the level of 2005, efficiency investments are close to profitability even without policy support. If higher energy prices were expected, energy-efficient retrofitting would be an attractive investment opportunity

  1. Energy Efficiency of Technological Equipment at the Economic Agent by Identifying the Points with Recoverable Heat Potential

    Directory of Open Access Journals (Sweden)

    Arina Negoiţescu

    2017-11-01

    Full Text Available For an energy-efficient future, the EU needs to step up its efforts to maximize energy savings. In this context, the paper addresses the steps needed to establish energy efficiency measures and proposes effective measures to reduce consumption by recovering large amounts of energy lost to industrial consumers. The points with the highest recoverable energy potential have been identified and it is proposed to install the heat recovery systems on the flue gas exhaust circuits and polluted air from Industrial Technological Equipment (ITE such as dyeing/drying cabins (DDC. Therefore, whenever possible and as small as energy saving, energy recovery solutions at any level, but especially at local level, need to be applied. In conclusion, by concentrating all the energy-saving efforts that are still being wasted, Europe can contribute, by saving energy, to ensuring a sustainable energy future

  2. Efficacy and efficiency of poultry carcass composting using different mechanical mixing equipment for avian influenza outbreaks

    Directory of Open Access Journals (Sweden)

    Jennifer Elizabeth Keaten

    2017-05-01

    Full Text Available Background and Aim: Avian influenza (AI is a viral disease that caused the largest animal disease outbreak in the history of US agriculture. There are several disposal methods of AI infected poultry carcasses available in the US, which include on-site burial, landfill, incineration, rendering, and composting. Of these methods, composting is the most environmentally friendly and poses a low risk for biosecurity. The United States Department of Agriculture (USDA has developed a comprehensive plan for composting AI infected carcasses. The current protocols have the potential for areas of anaerobic pockets within the windrow due to inadequate mixing and the large carcass size of whole birds. This could lead to ineffective virus neutralization or prolonged composting times and higher resource costs. The purpose of this project was to determine if using a horizontal mixer (HM wagon to mix composting ingredients or a vertical mixer (VM wagon to mix and cut up the compositing ingredients is an economical and timely means to accelerate the tissue break-down and obtain optimal temperatures for poultry carcass composting during an AI outbreak. Materials and Methods: A replicated trial with three treatments, HM, conventional layering (CL and VM, and three replications was initiated at the Compost Research and Education Center part of the University of Maine Forest and Agricultural Experimental Station called High Moor Farm. Daily temperatures and screened core sample weights (screen weights on day 0, 16, and 30 were recorded for each of the compost piles. The time to build each replication was recorded and used to help calculate the cost of each method. Data on equipment, carbon material and labor costs were collected from private contractors from the 2014 to 2016 highly pathogenic AI (HPAI outbreak and used to compare costs between methods. Results: All treatment methods reached USDA protocol temperatures to neutralize the HPAI virus. Screen weights for

  3. Modeling light use efficiency in a subtropical mangrove forest equipped with CO2 eddy covariance

    Directory of Open Access Journals (Sweden)

    J. G. Barr

    2013-03-01

    Full Text Available Despite the importance of mangrove ecosystems in the global carbon budget, the relationships between environmental drivers and carbon dynamics in these forests remain poorly understood. This limited understanding is partly a result of the challenges associated with in situ flux studies. Tower-based CO2 eddy covariance (EC systems are installed in only a few mangrove forests worldwide, and the longest EC record from the Florida Everglades contains less than 9 years of observations. A primary goal of the present study was to develop a methodology to estimate canopy-scale photosynthetic light use efficiency in this forest. These tower-based observations represent a basis for associating CO2 fluxes with canopy light use properties, and thus provide the means for utilizing satellite-based reflectance data for larger scale investigations. We present a model for mangrove canopy light use efficiency utilizing the enhanced green vegetation index (EVI derived from the Moderate Resolution Imaging Spectroradiometer (MODIS that is capable of predicting changes in mangrove forest CO2 fluxes caused by a hurricane disturbance and changes in regional environmental conditions, including temperature and salinity. Model parameters are solved for in a Bayesian framework. The model structure requires estimates of ecosystem respiration (RE, and we present the first ever tower-based estimates of mangrove forest RE derived from nighttime CO2 fluxes. Our investigation is also the first to show the effects of salinity on mangrove forest CO2 uptake, which declines 5% per each 10 parts per thousand (ppt increase in salinity. Light use efficiency in this forest declines with increasing daily photosynthetic active radiation, which is an important departure from the assumption of constant light use efficiency typically applied in satellite-driven models. The model developed here provides a framework for estimating CO2 uptake by these forests from reflectance data and

  4. The efficiency of the use of composite materials in electrotechnical equipment

    Science.gov (United States)

    Kim, K.; Ivanov, S.

    2018-02-01

    The indicators of the efficiency of electrical installations are directly connected with the creating and using of new composite materials with the desired performance properties. The practical application of composite materials is one of the perspective scientific and technical directions, providing the increase of the efficiency of electrical installations due to the sealing of current parts by protecting them from the external medium. The technical characteristics of the composite material match to its structure and depend on the properties of the individual components. The verification of the compliance of material parameters is implemented by the methods of the computer analysis of a model of composite material in the form of the structure in which the individual elements have thermodynamic properties of the corresponding phase state. In the study the topology of individual elements in the material structure is defined by the conditional boundaries of the section within the studied composite. The efficiency of using the composite materials includes the raising of electrical safety, increasing the durability, reducing the costs of maintenance and repair and the extension of the scope of installations.

  5. A simplified model of natural and mechanical removal to estimate cleanup equipment efficiency

    International Nuclear Information System (INIS)

    Lehr, W.

    2001-01-01

    Oil spill response organizations rely on modelling to make decisions in offshore response operations. Models are used to test different cleanup strategies and to measure the expected cost of cleanup and the reduction in environmental impact. The oil spill response community has traditionally used the concept of worst case scenario in developing contingency plans for spill response. However, there are many drawbacks to this approach. The Hazardous Materials Response Division of the National Oceanic and Atmospheric Administration in Cooperation with the U.S. Navy Supervisor of Salvage and Diving has developed a Trajectory Analysis Planner (TAP) which will give planners the tool to try out different cleanup strategies and equipment configurations based upon historical wind and current conditions instead of worst-case scenarios. The spill trajectory model is a classic example in oil spill modelling that uses advanced non-linear three-dimensional hydrodynamical sub-models to estimate surface currents under conditions where oceanographic initial conditions are not accurately known and forecasts of wind stress are unreliable. In order to get better answers, it is often necessary to refine input values rather than increasing the sophistication of the hydrodynamics. This paper described another spill example where the level of complexity of the algorithms needs to be evaluated with regard to the reliability of the input, the sensitivity of the answers to input and model parameters, and the comparative reliability of other algorithms in the model. 9 refs., 1 fig

  6. Targeting overall equipment efficiency for small medium enterprises with irregular production system

    Science.gov (United States)

    Prasetyawan, Y.; Suef, M.; Claudia, L.; Handayani, F. D.

    2018-04-01

    Overall Equipment Effectiveness (OEE) is widely used to measure the maturity of a production system. The company will be considered as World Class Manufacturing if it reaches more than 85% value, with near perfect value for availability, performance and quality factor. This assessment is usually taken on industries with regular production times named shift system. A typical 8 hours shift system is used in OEE measurement and performance monitoring. There are few Small to Medium Enterprise (SME) perform regular production times with shift systems, others using irregular production systems. The irregular production time in the SME production system is used because of demand fluctuations. This paper shows a quantitative analysis as a part of manufacturing system design to achieve a specific value of OEE for SME with irregular production systems, for individual businesses as well as collective business systems (some companies use the same production facilities for several processes). The results of experiments on several companies are presented, as a basis for determining the technical strategy of achieving OEE values.

  7. Procedure to evaluate and control efficiently the operations management of medical equipment in the maintenance unit of a health institution

    Directory of Open Access Journals (Sweden)

    Herrera-Galán Michael

    2018-01-01

    Full Text Available Maintenance management plays a very important role in the success of any company. As a consequence of this, in the year of 2013, a study was carried out in health facilities found in the South Eastern Region of Jamaica with the objective of evaluating the existing Maintenance Management Program for Medical Equipment. Among the results obtained, it showed that there is an inadequacy in the existing program whose principal deficiency is attributed to the operations management. As such, this work proposes a procedure for evaluating and controlling in an efficient manner the operations management within the Biomedical Department which forms part of the South East Regional Health Authority Maintenance Unit (SERHAMU, this latter is found on the premises of the Bustamante Hospital for Children (BHC, Jamaica. The method used to develop the procedure (GOMHO is based fundamentally on the design of: a codification system to identify control registers and to record failures associated with each equipment, a system of placing equipment into categories and further differentiating them based on the potential hazard such pose on the human body in the event of an operational failure. In addition, this procedure gives the SERHAMU at the BHC the opportunity to calculate the amount of human resources needed to carry out efficiently the preventative and corrective maintenance work being demanded on the department. During the implementation phase, the results demonstrated that from the control procedure designed there was an improvement in the planning and carrying out of maintenance work and a better system of monitoring the activities that are executed. Also, it was evidenced that there is a 61.53% of the amount of human resources needed to carry out the maintenance actions.

  8. Equipment for increasing the efficiency of a CPC-solar energy collector

    Energy Technology Data Exchange (ETDEWEB)

    Chao, Bei Tse; Rabl, Ari

    1977-01-13

    The invention concerns a cylindrical reflector with concentrators, which concentrate the solar radiation on a small surface, in whose area the actual absorber is fitted. To improve the efficiency of the collector there is provision for using the solar energy absorbed by the reflecting walls. For this purpose conducting channels are fitted on the back of the reflectors, through which a heat transport medium flows and takes away the absorbed energy. This energy can be used directly or the channels can be connected in series with the main absorber.

  9. Efficiency of equipment to reduce the harmful effects of oil spills at sea - an overview

    International Nuclear Information System (INIS)

    Loeset, S.

    1993-08-01

    The annual discharge of petroleum hydrocarbons to the marine environment is about 3.2 million metric tonnes. About 15% of this discharge is caused by accidental spills at sea. The paper gives an overview of the commonly available oil spill response systems with emphasis on cold waters. In principle the oil spill combat systems at sea can be divided into mechanical containment and recovery, chemical dispersants and in-situ burning. The paper highlights the applicability and efficiency of these combat systems under various conditions (weathering state of the oil, sea state and wind, etc.). 25 refs., 10 figs

  10. 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

  11. Does the Lowest Bid Price Evaluation Criterion Make for a More Efficient Public Procurement Selection Criterion? (Case of the Czech Republic

    Directory of Open Access Journals (Sweden)

    Ochrana František

    2015-06-01

    Full Text Available Through the institute of public procurement a considerable volume of financial resources is allocated. It is therefore in the interest of contracting entities to seek ways of how to achieve an efficient allocation of resources. Some public contract-awarding entities, along with some public-administration authorities in the Czech Republic, believe that the use of a single evaluation criterion (the lowest bid price results in a more efficient tender for a public contract. It was found that contracting entities in the Czech Republic strongly prefer to use the lowest bid price criterion. Within the examined sample, 86.5 % of public procurements were evaluated this way. The analysis of the examined sample of public contracts proved that the choice of an evaluation criterion, even the preference of the lowest bid price criterion, does not have any obvious impact on the final cost of a public contract. The study concludes that it is inappropriate to prefer the criterion of the lowest bid price within the evaluation of public contracts that are characterised by their complexity (including public contracts for construction works and public service contracts. The findings of the Supreme Audit Office related to the inspection of public contracts indicate that when using the lowest bid price as an evaluation criterion, a public contract may indeed be tendered with the lowest bid price, but not necessarily the best offer in terms of supplied quality. It is therefore not appropriate to use the lowest bid price evaluation criterion to such an extent for the purpose of evaluating work and services. Any improvement to this situation requires a corresponding amendment to the Law on Public Contracts and mainly a radical change in the attitude of the Office for the Protection of Competition towards proposed changes, as indicated within the conclusions and recommendations proposed by this study.

  12. 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

  13. Evaluation of the efficiency face to the NO{sub x} emissions from European gas-fired heat process equipment

    Energy Technology Data Exchange (ETDEWEB)

    Fourniguet, M.J.; Quinqueneau, A. [Gaz de France, Saint-Denis la Plaine (France); Karll, B. [Dansk Gasteknisk Center, Hoersholm (Denmark); Breithaupt, P. Gasunie [Gasunie, Groningue (Netherlands); Jonsson, O. [Svensk Gastekniskt Center AB, Malmoe (Sweden); Navarri, P. [CETIAT, Villeurbanne (France)

    1999-10-01

    In the frame of the project, tests have been performed by Gaz de France, CETIAT, DGC, GASUNIE and SGC on 35 European industrial sites in order to depict what the European industry using natural gas as an energy source actually looks like in 1997, the levels of efficiency and nitrogen oxides (NOx) emissions currently being achieved. These 35 industrial sites were chosen among the three following sectors: steam or water boilers, engines or turbines and industrial processes (food processing industry, metallurgy, ceramic, paper and textile industries). The partners focused on relatively new installations or newly retrofitted which were equipped with low NOx technologies. To create an open database between the Partners, a common EXCEL sheet has been defined and used to report the results for the three sectors concerned including principally the following items: General background on the site: it includes the description of the installation, technical characteristics of the furnace, the boiler or the engine, operating scenarios, gas total rating, and depending of the type of installation power density, rated electric power or production rate; Description of the equipment: it includes, if available, the control system of the heating equipment and the low NOx techniques identified; Description of the measurement techniques: In order to compensate for the lack of international standard, this part has been particularly detailed. It includes the description of flue gas analysers (CO, CO{sub 2}, O{sub 2}, NOx, CH{sub 4}, UHC, N{sub 2}O, VOC), metering and pressure and temperature probes in terms of measurement principle, supplier, measurement rang and accuracy and gas calibration. It precise the position of the sampling points and the type of the sampling line; Results: The operating conditions (atmospheric data, type of natural gas burnt during the test and measurement period) are given before the results themselves (complete flue gas analysis and determination of combustion

  14. Cost-Effective Integration of Efficient Low-Lift Base Load Cooling Equipment

    Energy Technology Data Exchange (ETDEWEB)

    Jiang, Wei; Winiarski, David W.; Katipamula, Srinivas; Armstrong, Peter R.

    2008-01-14

    The long-term goal of DOE’s Commercial Buildings Integration subprogram is to develop cost-effective technologies and building practices that will enable the design and construction of net Zero Energy Buildings — commercial buildings that produce as much energy as they use on an annual basis — by 2025. To support this long-term goal, DOE further called for — as part of its FY07 Statement of Needs — the development by 2010 of “five cost-effective design technology option sets using highly efficient component technologies, integrated controls, improved construction practices, streamlined commissioning, maintenance and operating procedures that will make new and existing commercial buildings durable, healthy and safe for occupants.” In response, PNNL proposed and DOE funded a scoping study investigation of one such technology option set, low-lift cooling, that offers potentially exemplary HVAC energy performance relative to ASHRAE Standard 90.1-2004. The primary purpose of the scoping study was to estimate the national technical energy savings potential of this TOS.

  15. Practical application of the benchmarking technique to increase reliability and efficiency of power installations and main heat-mechanic equipment of thermal power plants

    Science.gov (United States)

    Rimov, A. A.; Chukanova, T. I.; Trofimov, Yu. V.

    2016-12-01

    Data on the comparative analysis variants of the quality of power installations (benchmarking) applied in the power industry is systematized. It is shown that the most efficient variant of implementation of the benchmarking technique is the analysis of statistical distributions of the indicators in the composed homogenous group of the uniform power installations. The benchmarking technique aimed at revealing the available reserves on improvement of the reliability and heat efficiency indicators of the power installations of the thermal power plants is developed in the furtherance of this approach. The technique provides a possibility of reliable comparison of the quality of the power installations in their homogenous group limited by the number and adoption of the adequate decision on improving some or other technical characteristics of this power installation. The technique provides structuring of the list of the comparison indicators and internal factors affecting them represented according to the requirements of the sectoral standards and taking into account the price formation characteristics in the Russian power industry. The mentioned structuring ensures traceability of the reasons of deviation of the internal influencing factors from the specified values. The starting point for further detail analysis of the delay of the certain power installation indicators from the best practice expressed in the specific money equivalent is positioning of this power installation on distribution of the key indicator being a convolution of the comparison indicators. The distribution of the key indicator is simulated by the Monte-Carlo method after receiving the actual distributions of the comparison indicators: specific lost profit due to the short supply of electric energy and short delivery of power, specific cost of losses due to the nonoptimal expenditures for repairs, and specific cost of excess fuel equivalent consumption. The quality loss indicators are developed

  16. Effect and potential of grid price regulation on the promotion of electrical efficiency; Wirkung und Potenzial der Netzpreisregulierung fuer die Foerderung der Stromeffizienz. Eine Modellbetrachtung - Schlussbericht

    Energy Technology Data Exchange (ETDEWEB)

    Vettori, A.; Iten, R. [Infras, Zuerich (Switzerland); Worm, H.; Vaterlaus, S. [Polynomics AG, Olten (Switzerland); Spielmann, Ch. [IWB, Basel (Switzerland)

    2009-11-15

    This comprehensive report for the Swiss Federal Office of Energy (SFOE) presents the results of a theoretical analysis concerning the question if further development of grid pricing regulations can help increase efficiency in the use of electricity. Two possible stages in the implementation of grid price regulation are examined and discussed. Knowledge gained from theoretical analysis and from experience made in foreign countries is discussed. Various pricing models are examined and their cost-effectiveness discussed. The models and data used and the results obtained from the analysis are presented and discussed. The report is complemented with an appendix with details on selected results, modelling methods and tools used along with a glossary and a literature list.

  17. Efficiency of radiation protection equipment in interventional radiology: a systematic Monte Carlo study of eye lens and whole body doses

    International Nuclear Information System (INIS)

    Koukorava, C; Farah, J; Clairand, I; Donadille, L; Struelens, L; Vanhavere, F; Dimitriou, P

    2014-01-01

    Monte Carlo calculations were used to investigate the efficiency of radiation protection equipment in reducing eye and whole body doses during fluoroscopically guided interventional procedures. Eye lens doses were determined considering different models of eyewear with various shapes, sizes and lead thickness. The origin of scattered radiation reaching the eyes was also assessed to explain the variation in the protection efficiency of the different eyewear models with exposure conditions. The work also investigates the variation of eye and whole body doses with ceiling-suspended shields of various shapes and positioning. For all simulations, a broad spectrum of configurations typical for most interventional procedures was considered. Calculations showed that ‘wrap around’ glasses are the most efficient eyewear models reducing, on average, the dose by 74% and 21% for the left and right eyes respectively. The air gap between the glasses and the eyes was found to be the primary source of scattered radiation reaching the eyes. The ceiling-suspended screens were more efficient when positioned close to the patient’s skin and to the x-ray field. With the use of such shields, the H p (10) values recorded at the collar, chest and waist level and the H p (3) values for both eyes were reduced on average by 47%, 37%, 20% and 56% respectively. Finally, simulations proved that beam quality and lead thickness have little influence on eye dose while beam projection, the position and head orientation of the operator as well as the distance between the image detector and the patient are key parameters affecting eye and whole body doses. (paper)

  18. 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...

  19. Energy-Efficiency Labels and Standards: A Guidebook forAppliances, Equipment, and Lighting - 2nd Edition

    Energy Technology Data Exchange (ETDEWEB)

    Wiel, Stephen; McMahon, James E.

    2005-04-28

    Energy-performance improvements in consumer products are an essential element in any government's portfolio of energy-efficiency and climate change mitigation programs. Governments need to develop balanced programs, both voluntary and regulatory, that remove cost-ineffective, energy-wasting products from the marketplace and stimulate the development of cost-effective, energy-efficient technology. Energy-efficiency labels and standards for appliances, equipment, and lighting products deserve to be among the first policy tools considered by a country's energy policy makers. The U.S. Agency for International Development (USAID) and several other organizations identified on the cover of this guidebook recognize the need to support policy makers in their efforts to implement energy-efficiency standards and labeling programs and have developed this guidebook, together with the Collaborative Labeling and Appliance Standards Program (CLASP), as a primary reference. This second edition of the guidebook was prepared over the course of the past year, four years after the preparation of the first edition, with a significant contribution from the authors and reviewers mentioned previously. Their diligent participation helps maintain this book as the international guidance tool it has become. The lead authors would like to thank the members of the Communications Office of the Environmental Energy Technologies Division, Lawrence Berkeley National Laboratory for their support in the development, production, and distribution of the guidebook. This guidebook is designed as a manual for government officials and others around the world responsible for developing, implementing, enforcing, monitoring, and maintaining labeling and standards setting programs. It discusses the pros and cons of adopting energy-efficiency labels and standards and describes the data, facilities, and institutional and human resources needed for these programs. It provides guidance on the design

  20. Does Price Transparency Improve Market Efficiency? Implications of Empirical Evidence in Other Markets for the Health Sector

    National Research Council Canada - National Science Library

    Austin, Andrew; Gravelle, Jane G

    2007-01-01

    .... In health care markets consumers often have difficulty finding useful price data. In particular, few consumers have a clear idea of what hospital stays or hospital-based procedures will cost, or understand how hospital charges are determined...

  1. Is prevention of acute pesticide poisoning effective and efficient, with Locally Adapted Personal Protective Equipment? A randomized crossover study among farmers in Chitwan, Nepal

    DEFF Research Database (Denmark)

    Varma, Anshu; Neupane, Dinesh; Bonde, Jens Peter Ellekilde

    2016-01-01

    Background: Farmers' risk of pesticide poisoning can be reduced with personal protective equipment but in low-income countries farmers' use of such equipment is limited. Objective: To examine the effectiveness and efficiency of Locally Adapted Personal Protective Equipment to reduce organophosphate...... exposure among farmers. Methods: In a crossover study, 45 male farmers from Chitwan, Nepal, were randomly allocated to work as usual applying organophosphate pesticides wearing Locally Adapted Personal Protective Equipment or Daily Practice Clothing. For seven days before each experiment, each farmer.......08; 0.06]. Wearing the Locally Adapted Personal Protective Equipment versus Daily Practice Clothing gave the following results, respectively: comfort 75.6% versus 100%, sense of heat 64.4% versus 31.3%, other problems 44.4% versus 33.3%, like-ability 95.6% versus 77.8%. Conclusion: We cannot support...

  2. Market Efficiency Analysis at the Stockholm Stock Exchange: Measuring Intraday Stock Price Performance around Interim Reports of the OMXS30 Large Cap Stocks - An Event Study Approach

    OpenAIRE

    Tames Blanco, Juan Marcelo; Nsiah, Samuel Osei

    2010-01-01

    The purpose of this thesis is to perform event studies that determine the level of efficiency of twenty-two large cap stocks from the OMXS30 Index. Under the event study methodology, analysts’ expectations, the standard Capital Asset Pricing Model and a set of parametric tests are implemented. As a result, significant evidence is found on the existence of intraday abnormal returns at the exact moment of an interim report publication. However, further evidence on market corrections state effic...

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

    Energy Technology Data Exchange (ETDEWEB)

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

    2012-07-01

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

  4. A very efficient approach for pricing barrier options on an underlying described by the mixed fractional Brownian motion

    International Nuclear Information System (INIS)

    Ballestra, Luca Vincenzo; Pacelli, Graziella; Radi, Davide

    2016-01-01

    We deal with the problem of pricing barrier options on an underlying described by the mixed fractional Brownian model. To this aim, we consider the initial-boundary value partial differential problem that yields the option price and we derive an integral representation of it in which the integrand functions must be obtained solving Volterra equations of the first kind. In addition, we develop an ad-hoc numerical procedure to solve the integral equations obtained. Numerical simulations reveal that the proposed method is extremely accurate and fast, and performs significantly better than the finite difference method.

  5. Convergence of metropolitan house prices in South Africa: a re-examination using efficient unit root tests

    CSIR Research Space (South Africa)

    Das, Sonali

    2010-01-01

    Full Text Available This paper analyzes whether the Law of One Price (LOOP) holds in the housing market of five metropolitan areas of South Africa, namely Cape Town, Durban, Greater Johannesburg, Port Elizabeth/Uitenhage and Pretoria. The authors test the existence...

  6. Economical efficiency of bio energy as the level of prices in the agricultural sector rises; Wirtschaftlichkeit der Bioenergie bei steigendem Agrarpreisniveau

    Energy Technology Data Exchange (ETDEWEB)

    Heilmann, Hubert [Landesforschungsanstalt fuer Landwirtschaft und Fischerei Mecklenburg-Vorpommern, Guelzow (Germany). Inst. fuer Pflanzenproduktion und Betriebswirtschaft

    2013-10-01

    The food versus fuel debate is still of high social relevance. Changes to the framework conditions can have serious consequences for the profitability and the raw material supply of bioenergy plants. With the German Renewable Energy Act (EEG) economic incentives were created in the past to expand the growing of renewable raw materials on arable land for the production of biogas as well as for combined heat and power generation. In the meantime, agricultural prices have developed very dynamically; there can currently hardly be any talk of excessive promotion by the EEG. Taking into account the opportunity cost of agricultural/and use, from the perspective of the grower raw material prices which call into question the profitable supply of biogas plants are sometimes necessary - even for maize, the most important and efficient field fodder. The expiration of long-term supply agreements can lead to supply shortages, especially for biogas plants that do not belong to farms. (orig.)

  7. Improving Efficiency with 3-D Imaging: Technology Essential in Removing Plutonium Processing Equipment from Plutonium Finishing Plant Gloveboxes

    International Nuclear Information System (INIS)

    Crow, Stephen H.; Kyle, Richard N.; Minette, Michael J.

    2008-01-01

    The Plutonium Finishing Plant at Hanford, Washington began operations in 1949 to process plutonium and plutonium products. Its primary mission was to produce plutonium metal, fabricate weapons parts, and stabilize reactive materials. These operations, and subsequent activities, were performed in remote production lines, consisting primarily of hundreds of gloveboxes. Over the years these gloveboxes and processes have been continuously modified. The plant is currently inactive and Fluor Hanford has been tasked to clean out contaminated equipment and gloveboxes from the facility so it can be demolished in the near future. Approximately 100 gloveboxes at PFP have been cleaned out in the past four years and about 90 gloveboxes remain to be cleaned out. Because specific commitment dates for this work have been established with the State of Washington and other entities, it is important to adopt work practices that increase the safety and speed of this effort. The most recent work practice to be adopted by Fluor Hanford D and D workers is the use of 3-D models to improve the efficiency of cleaning out radioactive gloveboxes at the plant. The use of 3-D models has significantly improved the work planning process by providing workers with a clear image of glovebox construction and composition, which is then used to determine cleanout methods and work sequences. The 3-D visual products enhance safety by enabling workers to more easily identify hazards and implement controls. In addition, the ability to identify and target the removal of radiological materials early in the D and D process provides substantial dose reduction for the workers

  8. Industrial electricity demand and energy efficiency policy: The role of price changes and private R and D in the Swedish pulp and paper industry

    International Nuclear Information System (INIS)

    Henriksson, Eva; Söderholm, Patrik; Wårell, Linda

    2012-01-01

    The objective of this paper is to analyze electricity demand behaviour in the Swedish pulp and paper industry in the context of the increased interest in so-called voluntary energy efficiency programs. In these programs tax exemptions are granted if the participating firms carry out energy efficiency measures following an energy audit. We employ a panel data set of 19 pulp and paper firms, and estimate both the own- and cross-price elasticities of electricity demand as well as the impact of knowledge accumulation following private R and D on electricity use. The empirical results show that electricity use in the Swedish pulp and paper industry is relatively own-price insensitive, and the self-reported electricity savings following the voluntary so-called PFE program support the notion of important information asymmetries at the company level. However, the results display that already in a baseline setting pulp and paper firms tend to invest in private R and D that have electricity saving impacts, and our model simulations suggest that up to about one-third of the industry sector's self-reported electricity savings in PFE could be attributable to pure baseline effects. Future evaluations of voluntary energy efficiency programs must increasingly recognize the already existing incentives to reduce energy use in energy-intensive industries. - Highlights: ► We analyze electricity demand behaviour in the Swedish pulp and paper industry. ► An important context is the voluntary energy efficiency programs PFE. ► The electricity savings following PFE are significant, but price responses are low. ► Still, already in a baseline setting firms tend to invest in electricity-saving R and D. ► These baseline issues are not adequately addressed in PFE.

  9. 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

  10. 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...

  11. Design of variable energy and price components of electricity tariffs as an incentive for system-efficient energy management of flexible consumers in households

    International Nuclear Information System (INIS)

    Schreiber, Michael

    2017-01-01

    To mitigate anthropogenic climate change, both the heating and transport sectors will need to be electrically driven, with the higher electrical demand met by emission-free technologies, in addition to general efficiency improvements. On the generation side, wind and photovoltaic power plants must have a rated power significantly exceeding the current peak demand, in order to cover this increased electrical requirement. On the consumption side, heat pumps and private electric vehicles will increase the percentage of energy withdrawn at the low-voltage level of the new system. Given the right incentives, these customers will shift the energy demand in such a way as to benefit the system. This flexibility can be used as a tool to deal with variable renewable insertion while avoiding simultaneous overloading of the power grid. This thesis analyses and evaluates the effects of different electricity tariff designs on energy consumption. These tariffs should incentivise households to adapt their energy consumption to market prices, without inducing critical peak demands in times of particularly low prices. Therefore, time-varying energy price components and power price components are combined into flexible electricity tariffs and implemented as target functions within an optimization problem. The cost-minimizing effect of household energy management is determined under these flexible tariffs, and the effects of the tariff designs on energy consumption and the induced costs are evaluated. Additionally, the results of the flexible tariff approach are compared with results from a centralized optimization by a virtual power plant. It is possible to develop a design for a suitable flexible tariff that decreases the energy procurement costs of electric vehicles while simultaneously reducing peak demand in comparison to a single real-time pricing incentive. Furthermore, this thesis shows that certain kinds of electricity tariff design do not only fail to support but actually

  12. Efficient and compact mobile equipment based on the new RADEON-NWM technology to process liquid radioactive wastes resulted from the accidents of the nuclear installations

    International Nuclear Information System (INIS)

    Martoyan, Gagik; Nalbandyan, Garik; Gagiyan, Lavrenti; Karamyan, Gagik; Brutyan, Gagik

    2013-01-01

    During the operation of nuclear reactors important volume of liquid and solid radioactive wastes are generated, which, in normal conditions, becomes processed by stationary equipment by different methods to minimize their volume and then sent to specially constructed storages. The cases of accidents of Chernobyl and Fukushima showed that the localization of rejected big quantity of radioactive wastes is a prior problem for their further processing by stationary equipment. In this regard it is very important the processing of radioactive wastes on the contaminated areas to localize them by mobile equipment based on the efficient technologies. RADEONNWM new technology allows resolving this problem. This technology is compact, completely automated, which makes possible to assemble it on a standard 40-ft by 7-ft trailer driven by heavy-duty truck. The new technology is fully elaborated, the necessary tests are conducted. (authors)

  13. Design of China Leading Energy Efficiency Program (LEP) for equipment and appliances and comparative study of international experience on super-efficient products

    Science.gov (United States)

    Liang, Xiuying; Zhu, Chunyan

    2017-11-01

    With rising global emphasizes on climate change and sustainable development, how to accelerate the transformation of energy efficiency has become an important question. Designing and implementing energy-efficiency policies for super-efficient products represents an important direction to achieve breakthroughs in the field of energy conservation. On December 31, 2014, China’s National Development and Reform Commission (NDRC) jointly six other ministerial agencies launched China Leading Energy Efficiency Program (LEP), which identifies top efficiency models for selected product categories. LEP sets the highest energy efficiency benchmark. Design of LEP took into consideration of how to best motivate manufacturers to accelerate technical innovation, promote high efficiency products. This paper explains core elements of LEP, such as objectives, selection criteria, implementation method and supportive policies. It also proposes recommendations to further improve LEP through international policy comparison with Japan’s Top Runner Program, U.S. Energy Star Most Efficient, and SEAD Global Efficiency Medal.

  14. Cost analysis for heavy equipment in earthfill work - An optimization of heavy equipment fleet (Case study: Jabung ring dike project)

    Science.gov (United States)

    Arifin, Muhammad Faizal Ardhiansyah

    2017-03-01

    Earth fill work with large volumes of soil deposits will involve a lot of heavy equipment with a variety of functions and with different objectives. Where each machine will have different productivity anyway. So that in this paper discusses the calculation of the cost required to do the compacted earthfill work for embankment in accordance with the volume of work, the target date for implementation, and the number of heavy equipment needs. As the cost calculations used heavy equipment rental price per hour. In the cost analysis calculations use heavy equipment here there are several factors that we included in the calculation, are: 1.)Hauling distance; 2.)Effective hour a day; 3.)Change factor of Soil Volume; 4.)Effective Speed; 5.)Equipment efficiency factor; 6.)Equipment coefficient; 7.)Cycle Time.

  15. 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...

  16. Energy efficiency of office equipment - Proposal for a policy mix for Germany with an in-depth analysis of labelling strategies

    International Nuclear Information System (INIS)

    Duscha, Markus; Seebach, Dominik

    2005-01-01

    Research under contract with the German Federal Environmental Agency (UBA) identified a considerable energy saving potential fielding the area of office equipment. In this paper, a proposal for a policy mix is presented with the goal to increase energy efficiency by market-transformation in this sector. This was worked out by order of the UBA. Pending EU legislation like the Procurement Directive and the proposal for Eco-Design Directive have been considered. An in-depth analysis for labelling schemes for office equipment is provided with respect to the future of the Energy Star process, specifically the continuation of the Energy Star-cooperation between the U.S.EPA and the EU. Preliminary results gained after literature enquiry and interviews of experts were discussed during a workshop at the German Federal Environmental Ministry in September 2004. Our proposal for a policy mix includes: public procurement, efficiency labelling, training and education, energy management in public and private institutions, mandatory minimum standards, marketing. The demand for high efficient appliances should initially be boosted by green procurement to trigger market transformation. In the field of efficiency labelling, we first analyse the shortcomings of previous strategies. On this basis, we propose a two level-strategy for Germany: 1. The Energy Star process with improved structures shall act as a widely compliable labelling minimum standard. 2. An information programme about high efficient appliances ('quality-programme') should be established basing on existing structures (Energy Star, GEEA, TopTen) to minimise transaction costs

  17. ASSESSING THE EFFICIENCY OF EXCHANGE RATE-LINKED SUBSIDIES FOR NON-PRICE EXPORT PROMOTION: THE CASE OF COTTON

    OpenAIRE

    Paudel, Laxmi; Adhikari, Murali; Houston, Jack E.; Kinnucan, Henry W.

    2002-01-01

    Notwithstanding substantial federal financial support for the export promotion of agricultural products, ways to improve the efficiency of federal funding have not been discussed in empirical research. In this study, an equilibrium displacement framework was developed to evaluate whether the efficiency of export promotion expenditures could be increased by linking them with changes in the exchange rate. In our analysis, the gross gain to domestic cotton producers from the exchange-rate linked...

  18. Energy price spread as a driving force for combined generation investments: A view on Europe

    International Nuclear Information System (INIS)

    Kavvadias, K.C.

    2016-01-01

    Combined generation of heat, cooling and power has a large potential to increase its share in distributed generation of energy. Such investments are driven by energy savings which result to operational profits. These profits are very sensitive to the prices of the competitive energy products: electricity and gas. In this work a theoretical indicator is developed between energy prices, the technical characteristics of cogeneration and conventional generation equipment and the investment viability. Through this indicator, the operational profitability of cogeneration equipment is mapped and discussed. Empirical rules are extracted which can give a clear view of the sensitivity of energy prices on energy efficiency investments. The European cogeneration status quo is analyzed in terms of energy prices and market share. The developed indicator is also used, to analyze market related barriers and highlight the importance of energy pricing policy as a tool to minimize the risk exposure of energy efficiency investments. - Highlights: • Energy price spread of competitive fuels affects combined generation profitability. • Its uncertainty is the most important barrier for new investments. • The minimum energy price spread had been generalized and mathematically justified. • Can be used as a tax-based mechanism to hedge the risk of fuel price fluctuations. • For a typical installation, power has to be at least 2 times more expensive than gas.

  19. Kitchen Appliance Upgrades Improve Water Efficiency at DOD Exchange Facilities: Best Management Practice Case Study #11: Commercial Kitchen Equipment (Brochure)

    Energy Technology Data Exchange (ETDEWEB)

    2011-09-01

    The Exchange, formerly the Army and Air Force Exchange Service (AAFES), is a joint military activity and the U.S. Department of Defense?s (DOD) oldest and largest retailer. The Exchange is taking a leadership role in water efficiency improvements in their commercial kitchens by integrating water efficiency concepts into the organization?s overall sustainability plan and objectives.

  20. Residential Energy-Efficiency Equipment Shown to be a Good Investment for U.S. Navy (Fact Sheet)

    Energy Technology Data Exchange (ETDEWEB)

    None, None

    2014-04-01

    A two-year project between the National Renewable Energy Laboratory (NREL) and the U.S. Navy's Naval Facilities Engineering Command (NAVFAC) to demonstrate energy efficiency technologies at bases in Hawaii and Guam resulted in the identification of several promising options for reducing energy use and costs, including whole-house energy efficiency retrofits.

  1. 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.

  2. Fabrication of an anthropomorphous phantom equipped with sensors to assess the efficient dose at workstations submitted to photonic fields: experimental study

    International Nuclear Information System (INIS)

    Darreon, J.

    2009-12-01

    The efficient dose is a reference value in radioprotection. It allows the harmfulness of ionizing radiations received by organs and tissues to be assessed. It is used on a legal basis but is not directly measurable. This research thesis reports a practical feasibility study of an anthropomorphous dummy or phantom equipped with sensors to assess the efficient dose from selective measurements. A first part deals with the dose measurement system, i.e. the sensors which will be embedded in the phantom. The second part, based on a simulation performed with a Monte Carlo code, reports the study of the efficient dose assessment accuracies for different irradiation configurations which could be obtained with this measurement instrument. The author shows that the estimation accuracy can be improved by modifying the sensor locations with respect to doses deposited in future reference phantoms of the International Commission on Radiological Protection

  3. Emissions in 2001 conform the reference scenario (GE WLO with high oil price) and including Clean and Efficient

    International Nuclear Information System (INIS)

    Kroon, P.; Menkveld, M.

    2008-08-01

    This memo shows the calculation of an estimate for the total greenhouse gas emissions in 2011 in the reference scenario (GE WLO is the Dutch abbreviation for Global Economy and Welfare and Environment), including the impact of the Clean and Efficient programme from the assessment of ECN (Energy research Centre of the Netherlands) and MNP (Netherlands Environmental Assessment Agency) [nl

  4. 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...

  5. 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.

  6. Food Prices Transmission In Rwanda: Econometric Analysis

    African Journals Online (AJOL)

    ahavugimana

    (2010) found that if markets are efficient and policies are not an obstacle to their operation, changes in the world price of any given commodity should be similarly reflected in changes in domestic prices – phenomenon known as 'price transmission'. In many poor countries, the recent increases in prices of staple foods have ...

  7. An efficient and fast analytical procedure for the bromine determination in waste electrical and electronic equipment plastics.

    Science.gov (United States)

    Taurino, R; Cannio, M; Mafredini, T; Pozzi, P

    2014-01-01

    In this study, X-ray fluorescence (XRF) spectroscopy was used, in combination with micro-Raman spectroscopy, for a fast determination of bromine concentration and then of brominated flame retardants (BFRs) compounds in waste electrical and electronic equipments. Different samples from different recycling industries were characterized to evaluate the sorting performances of treatment companies. This investigation must be considered of prime research interest since the impact of BFRs on the environment and their potential risk on human health is an actual concern. Indeed, the new European Restriction of Hazardous Substances Directive (RoHS 2011/65/EU) demands that plastics with BFRs concentration above 0.1%, being potential health hazards, are identified and eliminated from the recycling process. Our results show the capability and the potential of Raman spectroscopy, together with XRF analysis, as effective tools for the rapid detection of BFRs in plastic materials. In particular, the use of these two techniques in combination can be considered as a promising method suitable for quality control applications in the recycling industry.

  8. 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.

  9. 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...

  10. Responding to high energy prices: energy management services

    International Nuclear Information System (INIS)

    Raynolds, M.

    2001-01-01

    Rapid growth in the number and sophistication of energy management companies has been observed in the wake of rising energy prices. These companies offer energy-efficiency consulting services to utilities, government and industry with the promise of improved cost efficiency, marketplace competitiveness and environmental commitments. The environmental benefits result from the reduction in emissions and pollutants associated with power production and natural gas used for space heating. In general, the stock in trade of these energy management companies is the energy audit involving evaluation of existing equipment in buildings and facilities and the resulting recommendations to install energy-efficient equipment such as lighting retrofits, boiler replacement, chiller replacement, variable speed drives, high-efficiency motors, improved insulation and weather proofing, water heaters and piping. The North American market for energy management services was estimated in 1997 at $208 billion (rising to $350 billion by 2004). Current market penetration is less than two per cent

  11. Improving the Efficiency of Administrative Decision-Making when Monitoring Reliability and Safety of Oil and Gas Equipment

    Directory of Open Access Journals (Sweden)

    Zemenkova Maria

    2016-01-01

    Full Text Available Methodology of rapid assessment of reliability index was developed based on system analysis of technological parameters. Within functioning of on-line monitoring system of reliability index of industrial facility this method allows to increase efficiency of making managerial decisions on technical and preventive maintenance. The technique is based on the analysis of technological parameters of operational modes of pipeline transport facilities registered by dispatcher controls. The created technique can be used by the operating, research, design institutes and oil and gas transport enterprises when declaring industrial safety. The received mathematical models allow federal services of supervision, the independent expert organizations to predict the development of reliability in the registered block of dispatching data either in real time mode, or taking into account the dynamics of service conditions of the object.

  12. Optimising the operation of hybrid coolers by means of efficient control equipment; Optimierung der Betriebsweise von Hybridkuehlern durch effiziente Steuerungstechnik

    Energy Technology Data Exchange (ETDEWEB)

    Odrich, T.; Koenig, H. [Jaeggi/Guentner (Schweiz) AG, Trimbach (Switzerland)

    2007-07-01

    Due to its functional principle and design, the hybrid dry cooler holds a high potential for saving water and energy. Purely convective heat discharge during dry operation in the case of a high annual rate of utilisation, evaporative cooling during the wetting cycle at peak load times or high ambient temperatures and infinitely adjustable fan speed in both operating modes permit a very substantial recooling performance at low operating costs and with little space requirement. However, the efficiency of hybrid dry coolers depends to a large degree on how intelligently the cooling functions are controlled and on the control strategy. The present article demonstrates that the control strategy contributes decisively to minimising water and energy consumption and costs. Besides describing the actual functions of a hybrid cooler control system it presents a control strategy for automatic lowering of the setpoint and hence optimisation of the refrigeration process. It discusses the option of operating multiple hybrid coolers by means of a hydraulic network and presents an optimised control concept for this purpose which is based on a master control unit. In conclusion the study shows that hybrid coolers need their own optimised control unit if maximum savings in energy and water are to be achieved.

  13. Petroleum price

    International Nuclear Information System (INIS)

    Chevallier, B.

    2009-01-01

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

  14. 浅谈提高大型仪器设备使用效率的措施%Discussion on improving utilization efficiency of large instruments and equipment

    Institute of Scientific and Technical Information of China (English)

    吴冰; 张勇

    2011-01-01

    大型仪器设备在高校学科建设中起着重要的支撑作用,高校对仪器设备的投人逐年增加,本文从提高机时利用率、管理人员素质和健全管理制度等方面探讨了提高大型仪器设备使用效率的措施.%Large instruments and equipment play an important supporting role in the building of academic disciplines in colleges and universities, and funds apropriated for their purchase and operation are increasing each year. This paper discusses the methods to improve the utilization efficiency of these instruments through improving the quality of management staff and administration system and increasing the usage factor.

  15. 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

  16. 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)

  17. 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.

  18. 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.

  19. Encouraging energy efficiency: Policies and programs

    International Nuclear Information System (INIS)

    Anon.

    1992-01-01

    Successfully overcoming the barriers to higher energy efficiency requires development of policies designed for specific users and locations. Reform of energy pricing, which entails removing subsidies and beginning internalization of externalities, is critical to give technology producers and users proper signals for investment and management decisions. But while a rise in energy prices increases the amount of energy-efficiency improvement that is cost-effective, it does not remove other barriers that deter investment. Minimum efficiency standards or agreements can raise the market floor, and are important because they affect the entire market in the near-term. But they may not raise the celining very much, and do little to push the efficiency frontier. To accomplish these goals, incentives and other market-development strategies are needed. Utility programs in particular can play a key role in pushing energy efficiency beyond the level where users are likely to invest on their own. Policies, programs, and pricing should complement one another. Pricing reform alone will not overcome the many entrenched barriers to higher energy efficiency, but trying to accelerate energy efficiency improvement without addressing energy pricing problems will lead to limited success. Whether tagerting new equipment or management of existing systems, policies must reflect a thorough understanding of the particular system and an awareness of the motivations of the actors. 25 refs

  20. 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...

  1. 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)

  2. Influence of Low-Temperature Plasma Treatment on The Liquid Filtration Efficiency of Melt-Blown PP Nonwovens in The Conditions of Simulated Use of Respiratory Protective Equipment

    Directory of Open Access Journals (Sweden)

    Majchrzycka Katarzyna

    2017-06-01

    Full Text Available Filtering nonwovens produced with melt-blown technology are one of the most basic materials used in the construction of respiratory protective equipment (RPE against harmful aerosols, including bio- and nanoaerosols. The improvement of their filtering properties can be achieved by the development of quasi-permanent electric charge on the fibres. Usually corona discharge method is utilized for this purpose. In the presented study, it was assumed that the low-temperature plasma treatment could be applied as an alternative method for the manufacturing of conventional electret nonwovens for the RPE construction. Low temperature plasma treatment of polypropylene nonwovens was carried out with various process gases (argon, nitrogen, oxygen or air in a wide range of process parameters (gas flow velocity, time of treatment and power supplied to the reactor electrodes. After the modification, nonwovens were evaluated in terms of filtration efficiency of paraffin oil mist. The stability of the modification results was tested after 12 months of storage and after conditioning at elevated temperature and relative humidity conditions. Moreover, scanning electron microscopy and ATR-IR spectroscopy were used to assess changes in surface topography and chemical composition of the fibres. The modification of melt-blown nonwovens with nitrogen, oxygen and air plasma did not result in a satisfactory improvement of the filtration efficiency. In case of argon plasma treatment, up to 82% increase of filtration efficiency of paraffin oil mist was observed in relation to untreated samples. This effect was stable after 12 months of storage in normal conditions and after thermal conditioning in (70 ± 3°C for 24 h. The use of low-temperature plasma treatment was proven to be a promising improvement direction of filtering properties of nonwovens used for the protection of respiratory tract against harmful aerosols.

  3. 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

  4. The welfare effects of different pricing schemes for electricity distribution in Finland

    International Nuclear Information System (INIS)

    Kopsakangas-Savolainen, Maria

    2004-01-01

    The main components of electricity prices can be divided into the wholesale price, the price of network operations and taxes. Even if the wholesale price is determined efficiently, total welfare can be significantly disturbed if network operations are priced inefficiently. In this study, we calculate network prices based on four alternative methods. These are marginal cost pricing, Ramsey pricing, FDC-pricing and optimal two-part tariffs. The welfare effects on the prevailing pricing system are compared. We show that potentially significant improvements in welfare can be achieved by using marginal cost prices or optimal two-part tariffs. Also Ramsey pricing indicates that prevailing prices are inefficient

  5. The welfare effects of different pricing schemes for electricity distribution in Finland

    International Nuclear Information System (INIS)

    Kopsakangas-Savolainen, Maria

    2004-01-01

    The main components of electricity prices can be divided into the wholesale price, the price of network operations and taxes. Even if the wholesale price is determined efficiently, total welfare can be significantly disturbed if network operations are priced inefficiently. In this study, we calculate network prices based on four alternative methods. These are marginal cost pricing, Ramsey pricing, FDC-pricing and optimal two-part tariffs. The welfare effects on the prevailing pricing system are compared. We show that potentially significant improvements in welfare can be achieved by using marginal cost prices or optimal two-part tariffs. Also Ramsey pricing indicates that prevailing prices are inefficient. (Author)

  6. Equipment considerations

    International Nuclear Information System (INIS)

    Anon.

    1992-01-01

    Trace or ultratrace analyses require that the HPLC equipment used, including the detector, be optimal for such determinations. HPLC detectors are discussed at length in Chapter 4; discussion here is limited to the rest of the equipment. In general, commercial equipment is adequate for trace analysis; however, as the authors approach ultratrace analysis, it becomes very important to examine the equipment thoroughly and optimize it, where possible. For this reason they will review the equipment commonly used in HPLC and discuss the optimization steps. Detectability in HPLC is influenced by two factors (1): (a) baseline noise or other interferences that lead to errors in assigning the baseline absorbance; (b) peak width. 87 refs

  7. An Analysis of Stand-alone GPS Quality and Simulated GNSS Quality for Road Pricing

    DEFF Research Database (Denmark)

    Zabic, Martina; Nielsen, Otto Anker

    2006-01-01

    Use of GPS for road pricing has often been suggested as the way of creating more efficient charging strategies than existing systems based on cordon lines or time use. In Denmark, Copenhagen participated with the AKTA project in the PRoGRESS programme, sponsored by the EU. The major part...... of the AKTA project was to equip 500 cars with GPS receivers. The paper presents the methods and results from a study of GPS quality in relation to road pricing in a dense urban area. The collected data from 500 cars over a two-year period in the Copenhagen region was analyzed in order to determine whether...... the stand alone GPS quality and reliability is adequate for implementation of an operational road pricing system in Copenhagen. The results from the analysis show that the satellite availability in Copenhagen is not sufficient to form the basis for a reliable operational road pricing system. The narrow...

  8. Equipment repair in coal mines

    Energy Technology Data Exchange (ETDEWEB)

    Zhang, S

    1982-01-01

    Most equipment in Chinese coal mines consists of machinery and equipment produced in the 1950s; the efficiency of 4-62, CTD-57 and 70B/sub 2/ ventilators is 15% lower than that of new ones; that of SSM and AYaP pumps, 10% lower than of modern ones. Equipment renovation is done in three ways: replacing obsolete equipment with new equipment of the same type; improving the performance of existing equipment by introducing efficiency and reconstruction; and replacing obsolete equipment with advanced equipment. It is indicated that the second way, for example, replacement of 4-62 ventilator blades with a maximum efficiency of 73% by 4-72 ventilator blades raises its efficiency to 90%. Replacing the 8DA-8x3 water pump, having a maximum efficiency of 63%, with the 200D 43x3 pump with a maximum efficiency of 78%, enables an electricity savings of 7000 yuan per year, which exceeds all replacement costs (600 yuan). The need to improve equipment maintenance and preventive work to increase equipment service life and to introduce new techniques and efficiency is noted.

  9. Efficient operation of the liquid nitrogen supply station for the cryogenic equipment of the pilot plant for tritium and deuterium separation

    International Nuclear Information System (INIS)

    Gherghinescu, Sorin; Popescu, Gheorghe

    2009-01-01

    Full text: At liquid nitrogen temperature the materials lose their elastic properties and become brittle. Protecting the personnel working with liquid nitrogen becomes difficult and to avoid accidents special equipment is used as helmets, gloves, goggles, special footwear, etc. The liquid nitrogen can destroy insulation of electrical cables, and so short circuits and electrocution can occur. Objects made of carbon steel (like pipes, props, containers, pillars, metal roofs, etc) when cooled by a sufficient amount of cryogenic liquid can break down to minimal mechanical stresses. Exceedingly dangerous is liquid nitrogen entered and retained into carbon steel ducts carrying pressured gas (even et low pressure values), since their cooling at extremely low temperatures can provoke their explosion. Resulting pieces and fragments are dangerous for both personnel and equipment around. The gas components of atmosphere (oxygen, nitrogen, argon) have critical parameters which allow liquefaction only at high pressure. For this reason they are called 'permanent gases'. Consequently, transformed in cryogenic liquids in closed precincts these gases will get totally vaporised when the precincts are not properly thermally isolated. The resulting raised pressure can lead to precinct destruction. For instance such event happens when an amount of liquid nitrogen is isolated into an external pipe between two closed taps while a relief valve is not in place. In such conditions isolation of liquid nitrogen ducts is absolutely necessary. This report reviews various solutions for obtaining an efficient isolation. All thermal isolations aim at reducing the heat transfer. In cryogenics the heat transfer from environment to the fluid in liquid phase is an important factor affecting the efficiency and yield of the liquefaction system. Choosing the type of isolation depends essentially on the specific application. The factors which must be considered are the cooling power, weight, the

  10. Oil price stability and free markets

    International Nuclear Information System (INIS)

    Yamani, A.Z.

    1992-01-01

    The oil industry, like any capital-intensive industry with long supply lead times, is prone to price instability. Free markets in oil reflect this inherent instability, for prices are efficient signallers of imbalances between supply and demand. Free markets are desirable in principle, but entirely free oil markets are unstable. Volatile oil prices are undesirable. This article advocates trading some market freedom for more price stability, since such a trade off will be beneficial to the world as a whole. (author)

  11. Behavioural Motives of Acquisition of Solar-driven Equipment

    Directory of Open Access Journals (Sweden)

    Shkurupska Iryna O.

    2013-12-01

    Full Text Available The article identifies needs of the target group, namely structure of motives, which justify making a decision to buy, in order to create efficient marketing strategy of an enterprise, which sell solar-driven equipment in Ukraine. There are five segments in the domestic market of helio-systems: individual consumers, recreation industry, agrarian industry, construction and social spheres. The article allocates 15 motives of acquisition of the solar-driven equipment for these segments, the most important of which are price, availability of solar energy, alternative price and energy saving. Besides, the structure of such motives is determined for each segment individually. In order to choose specific marketing instruments in the policy of promotion of solar-driven equipment, the article identifies differences in the form of goals of use and motives of acquisition between the specified consumer segments. The article reveals certain barriers that interfere with acquisition of solar-driven equipment – low level of trust into helio-systems, conservatism of consumers, absence of free applications for consumers – overcoming which is only possible with the help of certain marketing actions.

  12. Deregulation and pricing in a hydro electric system

    International Nuclear Information System (INIS)

    Stoea, P.; Livik, K.; Wangensteen, I.

    1992-01-01

    In line with the current development in some European countries, notably the UK and the Netherlands, deregulation and market competition has been introduced in Norwegian electricity supply in order to improve the economic efficiency of the system. The legal basis for the introduction is the new Norwegian Energy Act that was approved in the Storting (parliament) in June 1990 and came legally into effect on January 1, 1991. This paper deals with the organizational structure, the price formation in the wholesale market, and the tariffs and metering equipment that are being developed to meet the needs of the customers and the utilities in this new situation. (author)

  13. 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

  14. The role of efficiency improvements vs. price effects for modeling passenger car transport demand and energy demand—Lessons from European countries

    International Nuclear Information System (INIS)

    Ajanovic, Amela; Haas, Reinhard

    2012-01-01

    The objective of this paper is to analyze the impact of changes in fuel prices and fuel intensity (i.e. liters of fuel used per 100 kilometers) on overall fuel (gasoline and diesel) consumption and on the demand for vehicle km driven in car passenger transport. This is important for deriving effective policy portfolios consisting of fuel taxes and technical standards such as fuel intensity mandates or specific CO 2 emission limits. To extract these impacts, we apply cointegration analyses to six European countries and their aggregate over the period 1970–2007. We consider the impact of fuel prices, household income and fuel intensity on fuel consumption. Furthermore, we investigate how changes in fuel prices and fuel intensity interact, analyzing the rebound effect due to lower fuel intensity and due to the switch to diesel. Because we find a high rebound effect with 44% more km driven if fuel intensity is improved 100%, the major conclusion of our analysis for policy makers is that technical standards as the only policy instrument will have limited success. Rather we recommend increased fuel taxes along with fuel intensity standards so that the taxes compensate for the rebound due to the standards. - Highlights: ► We find a high rebound effect with 44% more km driven if fuel intensity is improved. ► Technical standards as the only policy instrument will have limited success. ► Fuel taxes accompanied to fuel intensity standards may compensate the rebound effect.

  15. Energy efficieny policy and carbon pricing

    Energy Technology Data Exchange (ETDEWEB)

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

    2011-08-15

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

  16. Pricing hospital care: Global budgets and marginal pricing strategies.

    Science.gov (United States)

    Sutherland, Jason M

    2015-08-01

    The Canadian province of British Columbia (BC) is adding financial incentives to increase the volume of surgeries provided by hospitals using a marginal pricing approach. The objective of this study is to calculate marginal costs of surgeries based on assumptions regarding hospitals' availability of labor and equipment. This study is based on observational clinical, administrative and financial data generated by hospitals. Hospital inpatient and outpatient discharge summaries from the province are linked with detailed activity-based costing information, stratified by assigned case mix categorizations. To reflect a range of operating constraints governing hospitals' ability to increase their volume of surgeries, a number of scenarios are proposed. Under these scenarios, estimated marginal costs are calculated and compared to prices being offered as incentives to hospitals. Existing data can be used to support alternative strategies for pricing hospital care. Prices for inpatient surgeries do not generate positive margins under a range of operating scenarios. Hip and knee surgeries generate surpluses for hospitals even under the most costly labor conditions and are expected to generate additional volume. In health systems that wish to fine-tune financial incentives, setting prices that create incentives for additional volume should reflect knowledge of hospitals' underlying cost structures. Possible implications of mis-pricing include no response to the incentives or uneven increases in supply. Copyright © 2015 The Authors. Published by Elsevier Ireland Ltd.. All rights reserved.

  17. 27 CFR 6.88 - Equipment and supplies.

    Science.gov (United States)

    2010-04-01

    ..., DEPARTMENT OF THE TREASURY LIQUORS âTIED-HOUSEâ Exceptions § 6.88 Equipment and supplies. (a) General. The act by an industry member of selling equipment or supplies to a retailer does not constitute a means... a price not less than the cost to the industry member who initially purchased them, and if the price...

  18. Chapter 4: Small Commercial and Residential Unitary and Split System HVAC Heating and Cooling Equipment-Efficiency Upgrade Evaluation Protocol. The Uniform Methods Project: Methods for Determining Energy Efficiency Savings for Specific Measures

    Energy Technology Data Exchange (ETDEWEB)

    Kurnik, Charles W [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Jacobson, David [Jacobson Energy Research, Providence, RI (United States); Metoyer, Jarred [DNV GL, Madison, WI (United States)

    2017-11-02

    The specific measure described here involves improving the overall efficiency in air-conditioning systems as a whole (compressor, evaporator, condenser, and supply fan). The efficiency rating is expressed as the energy efficiency ratio (EER), seasonal energy efficiency ratio (SEER), and integrated energy efficiency ratio (IEER). The higher the EER, SEER or IEER, the more efficient the unit is.

  19. Energy price disparity and public welfare

    International Nuclear Information System (INIS)

    Templet, P.H.

    2001-01-01

    The differences in the price of energy to economic sectors are linked to a number of system parameters and to public welfare. There are large disparities in energy prices within states when comparing residential and industrial prices although neoclassical economics predicts one price in markets. The large disparities between the two sectors across states negatively affects the efficiency of resource allocation, creates subsidies for those getting the cheap energy and results in unequal access to energy. These in turn lead to inefficient partitioning of energy between products and waste, higher pollution, leakage of wealth and poorer energy use efficiency, i.e. high energy intensity. States with large energy price disparities between sectors have statistically higher poverty, lower incomes, more pollution and use more energy but with less efficiency. Higher energy price disparities also result in higher throughput per unit of output thus reducing the chances for sustainability and lower public welfare. 31 refs

  20. Efficient Power Scheduling in Smart Homes Using Hybrid Grey Wolf Differential Evolution Optimization Technique with Real Time and Critical Peak Pricing Schemes

    Directory of Open Access Journals (Sweden)

    Muqaddas Naz

    2018-02-01

    Full Text Available With the emergence of automated environments, energy demand by consumers is increasing rapidly. More than 80% of total electricity is being consumed in the residential sector. This brings a challenging task of maintaining the balance between demand and generation of electric power. In order to meet such challenges, a traditional grid is renovated by integrating two-way communication between the consumer and generation unit. To reduce electricity cost and peak load demand, demand side management (DSM is modeled as an optimization problem, and the solution is obtained by applying meta-heuristic techniques with different pricing schemes. In this paper, an optimization technique, the hybrid gray wolf differential evolution (HGWDE, is proposed by merging enhanced differential evolution (EDE and gray wolf optimization (GWO scheme using real-time pricing (RTP and critical peak pricing (CPP. Load shifting is performed from on-peak hours to off-peak hours depending on the electricity cost defined by the utility. However, there is a trade-off between user comfort and cost. To validate the performance of the proposed algorithm, simulations have been carried out in MATLAB. Results illustrate that using RTP, the peak to average ratio (PAR is reduced to 53.02%, 29.02% and 26.55%, while the electricity bill is reduced to 12.81%, 12.012% and 12.95%, respectively, for the 15-, 30- and 60-min operational time interval (OTI. On the other hand, the PAR and electricity bill are reduced to 47.27%, 22.91%, 22% and 13.04%, 12%, 11.11% using the CPP tariff.

  1. Pharmaceutical pricing, price controls, and their effects on pharmaceutical sales and research and development expenditures in the European Union.

    Science.gov (United States)

    Vogel, Ronald J

    2004-08-01

    Each country in the European Union (EU) currently employs direct price controls or permutations of direct price controls, such as reference pricing or limitations on returns to capital. Some countries also use volume controls. A new proposal that is being discussed would have all of the countries in the EU adopt uniform pricing for each pharmaceutical. This paper analyzes the economic effects of free-market pricing individual-country price controls, and uniform EU price controls. Microeconomic and mathematical models were used to simulate and predict probable economic outcomes in a comparative static setting. Price controls may be in the form of price ceilings or price floors. Both forms of price control generate deadweight economic losses in the short run and long run. A uniform EU price for each pharmaceutical sold there would have elements of a price ceiling in some of the countries and of a price floor in other countries. The deadweight loss incurred would be a function of the level at which the uniform price was set by the EU and the price elasticity of demand for each pharmaceutical in each country. Economic efficiency is maximized in both the short run and long run when prices are set in freely competitive markets. An additional important dimension of Ramsey pricing within a competitive context is that it generates funds for investment in pharmaceutical research and development, which enhances economic efficiency in the long run.

  2. Seizing market shaping opportunities for vaccine cold chain equipment.

    Science.gov (United States)

    Azimi, Tara; Franzel, Lauren; Probst, Nina

    2017-04-19

    Gavi, the Vaccine Alliance, supports immunisation programmes in eligible countries to reach children with lifesaving vaccines. Dramatic improvement in the scale and performance of current cold chain systems is required to extend the reach of immunisation services - especially for children living in remote locations - to advance progress towards full vaccine coverage. Achieving these improvements will require a healthier market for cold chain equipment where the products meet user needs, are sustainably priced, and are available in sufficient quantities to meet demand. Yet evidence suggests that the cold chain market has suffered from several failures including limited demand visibility, fragmented procurement, and insufficient information exchange between manufacturers and buyers on needs and equipment performance. One of Gavi's strategic goals is to shape markets for vaccines and other immunisation products, including cold chain equipment and in 2015, Gavi created a new mechanism - the Cold Chain Equipment (CCE) Optimisation Platform - to strengthen country cold chain systems by offering financial support and incentives for higher performing CCE. The main objective of the CCE Platform is to get more equipment that is efficient, sustainable, and better performing deployed to every health facility where it is required at an affordable price. To achieve these objectives, Gavi is putting in place tested market shaping approaches and tools adapted for the CCE market: the development of market strategies or 'roadmaps'; improvement of product performance through the development of target product profiles (TPPs); strategic engagement with CCE manufacturers and countries to enhance information sharing; and tailoring procurement tactics to the CCE market. These approaches and tools will allow for increased demand and supply of higher-performing, cost-effective and quality products. By strengthening immunisation systems with improved cold chain equipment, Gavi countries can

  3. Energy Tax and Competition in Energy Efficiency. The Case of Consumer Durables

    International Nuclear Information System (INIS)

    Conrad, K.

    2000-01-01

    The purpose of this paper is to analyze the role of an energy tax on technical improvements and on prices of consumer durables induced by strategic competition in energy efficiency. If the gasoline tax is raised this does in principle not affect the producers of cars because the motorist pays for it in terms of a higher cost of using the car. This, however, affects the unit sales of car producers because of substitution towards other modes of transportation. A second element of reaction to energy price variation is an indirect one and relates to the effect of energy prices on technology. Competition forces car producers to develop more energy efficient cars in order to reduce the cost of using a car. This indirect effect can partly offset the direct effect of higher energy prices on demand if it is profitable for the automobile industry to engineer more energy efficient equipment. We will analyze the impact of an energy tax on energy efficiency and on the price of a durable good. This will be done within the framework of a duopoly competing in prices and in the energy efficiency of its products. The government chooses a welfare maximizing energy tax as an incentive to innovate. Then we will analyze a strategic two-stage decision process in which the duopolists first decide about energy efficiency and then compete in prices. 18 refs

  4. Energy-efficient technologies and policies can help us win the race to save the planet

    International Nuclear Information System (INIS)

    Rosenfeld, A.H.; Price, L.

    1994-01-01

    Past achievements in energy efficiency in the residential sector are reviewed and policy mechanisms for continuing such savings are discussed. Between 1973 and 1985, the efficiency of most new individual energy-using products doubled, and this occurred with minimal investments; the price difference between the existing and the more efficient product was typically recovered through reduced energy bills in three years or less. This is illustrated with examples including automobiles, refrigerators, windows, and lighting. With the recent decline in oil prices, energy use per unit of gross national product in the USA has risen slightly and high energy prices no longer provide the main motivation for further energy efficiency improvements. Other considerations that promote energy efficiency include the economic growth that results from using energy efficient products, environmental protection, and the need to reduce greenhouse gas emissions. Further energy efficiency improvements can be made using effective policies, such as establishment of energy-use labels for appliances and equipment, imposing energy efficiency standards, providing incentives for appliance and equipment manufacturers to produce energy efficient products, using fees and rebates to reduce energy use, building automobile insurance costs into gasoline prices, integrated resource planning and demand side management by energy utilities, and mortgage rates based on energy efficiency and conservation considerations. 42 refs., 6 figs., 2 tabs

  5. 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

  6. 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.

  7. Choice of models and data availability for the efficiency analysis of the Dutch distribution and supply companies in the electricity sector. Background document of 'Guidelines for price cap regulation in the Dutch electricity sector'

    International Nuclear Information System (INIS)

    Burns, P.; Huggins, M.; Riechmann, C.; Weyman-Jones, T.

    2000-02-01

    July 1999 The Netherlands Electricity Regulatory Service (DtE) published an Information and Consultation Document on the title subject. By means of price cap regulation tariffs are determined such that businesses are stimulated continuously to organize their total processes and operation as efficient as possible. In the consultation document a large number of questions with respect to the future organization and planning of the system of economic regulation of the electricity sector in the Netherlands can be found. Many reactions and answers were received, compiled and analyzed. The results are presented in the main report, which forms the framework for the DtE to shape the economic regulation of the Dutch electricity sector. In this background document attention is paid to the most appropriate models by means of which the efficiency of the electricity companies in the Netherlands can be analyzed

  8. Natural gas pricing policies in Southeast Asia

    International Nuclear Information System (INIS)

    Pacudan, R.B.

    1998-01-01

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

  9. Pricing electricity for sustainability : climate change and Canada's electricity sector

    International Nuclear Information System (INIS)

    2010-01-01

    The electricity sector is Canada's largest single source of greenhouse gas (GHG) emissions. This paper discussed electricity and carbon pricing approaches to reducing GHG emissions in the electricity sector. An overview of the links between electricity pricing and climate change was presented, and current and emerging trends in electricity pricing related to encouraging energy conservation were reviewed. Market prices and failures were discussed. Approaches to pricing electricity included an increase in block prices; time-of-use prices; demand-side management and energy efficiency; and carbon pricing in Canada and electricity pricing signals. The study showed that several provincial utilities in Canada are experimenting with market-based pricing approaches for electricity and carbon that may help to reduce GHG emissions over time. Concerns over electricity supply and the negative environmental impacts of electricity production may lead to the full social pricing of electricity in some regions of Canada. 46 refs., 3 tabs., 5 figs.

  10. Overall Equipment Effectiveness Implementation Criteria

    Science.gov (United States)

    Abramova, I. G.; Abramov, D. A.

    2018-01-01

    This article documents the methods applied in production control technics specifically focused on commonly used parameter OEE (Overall Equipment Effectiveness). The indicators of extensive and intensive use of equipment are considered. Their appointment this is comparison in the same type of production within the industry and comparison of single-type and / or different types of equipment in terms of capacity. However, it is shown that there is no possibility of revealing the reasons for the machine’s operation: productive / unproductive, with disturbances. Therefore, in the article reveals the approaches to calculating the indicator characterizing the direct operation of the equipment. The Machine Load coefficient is approaching closely to the indicator of the efficiency of the use of equipment. Methods analysis is proceeded through the historically applied techniques such as “Stopwatch” and “Motion” studies. Was performed the analysis of the efficiency index of OEE equipment using the comparable indexes performance of equipment in the Russian practice. An important indicator of OEE contains three components. The meaning of each of them reflects historically applicable indicators. The value of the availability of equipment indicator is close to the value of the equipment extensibility index. The value of the indicator of the efficiency of work can be compared with the characteristic of the capacity of the equipment and the indicator of the quality level can meet the requirements for compliance with the manufacturing technology. Shown that the sum of the values of the coefficient of “Availability” of the equipment and the value of the “Factor of compaction of working hours” are one. As well as the total value of the indicator “level of quality” and the coefficient of marriage given in the result unit. The measurability of the indicators makes it possible to make a prediction about efficiency of the equipment.

  11. Price of forest chips decreasing

    International Nuclear Information System (INIS)

    Hakkila, P.

    2001-01-01

    Use of forest chips was studied in 1999 in the national Puuenergia (Wood Energy) research program. Wood combusting heating plants were questioned about are the main reasons restricting the increment of the use of forest chips. Heating plants, which did not use forest chips at all or which used less than 250 m 3 (625 bulk- m 3 ) in 1999 were excluded. The main restrictions for additional use of forest chips were: too high price of forest chips; lack of suppliers and/or uncertainty of deliveries; technical problems of reception and processing of forest chips; insufficiency of boiler output especially in winter; and unsatisfactory quality of chips. The price of forest chips becomes relatively high because wood biomass used for production of forest chips has to be collected from wide area. Heavy equipment has to be used even though small fragments of wood are processed, which increases the price of chips. It is essential for forest chips that the costs can be pressed down because competition with fossil fuels, peat and industrial wood residues is hard. Low market price leads to the situation in which forest owner gets no price of the raw material, the entrepreneurs operate at the limit of profitability and renovation of machinery is difficult, and forest chips suppliers have to sell the chips at prime costs. Price of forest chips has decreased significantly during the past decade. Nominal price of forest chips is now lower than two decades ago. The real price of chips has decreased even more than the nominal price, 35% during the past decade and 20% during the last five years. Chips, made of small diameter wood, are expensive because the price includes the felling costs and harvesting is carried out at thinning lots. Price is especially high if chips are made of delimbed small diameter wood due to increased the work and reduced amount of chips. The price of logging residue chips is most profitable because cutting does not cause additional costs. Recovery of chips is

  12. Taking the mystery out of gasoline prices

    International Nuclear Information System (INIS)

    Anon.

    2000-01-01

    Gasoline price variations in different markets of Canada are primarily driven by market forces, not necessarily by costs, according to a petroleum valuation consultant of the Newfoundland Department of Mines and Energy. Market forces include wholesale prices, the number and efficiency of stations in an area, companies' marketing strategies and customer buying preferences. Prices can be affected by any one of these forces at any time. The prediction is that wholesale prices will continue to be volatile in the next few months as the market adjusts to the changes in crude oil prices determined by OPEC as well as the summer season for gasoline. Changes in crude oil prices are usually reflected in the price of gasoline at the pump, although they do not necessarily move together. Demand which is an important factor in price, is cyclical in both the US and Canada, being lowest in the first quarter of the year, picking up during the second and third quarters with increased driving during good weather, and usually declining again in the fourth quarter with the onset of colder weather. Taxes are also a very significant component of the retail price of gasoline; in July 1998 the combined federal and provincial taxes accounted for 54 per cent of the average retail price of regular unleaded gasoline in Canada. Refining and marketing costs, the distance gasoline has to be transported to market, also influence prices at the pump

  13. 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...

  14. 27 CFR 6.43 - Sale of equipment.

    Science.gov (United States)

    2010-04-01

    ... OF THE TREASURY LIQUORS âTIED-HOUSEâ Unlawful Inducements Furnishing Things of Value § 6.43 Sale of equipment. A transaction in which equipment is sold to a retailer by an industry member, except as provided.... Further, the negotiation by an industry member of a special price to a retailer for equipment from an...

  15. Alternative interpretations of price-quality relations

    DEFF Research Database (Denmark)

    Hjorth-Andersen, Christian

    1992-01-01

    In a previous paper by Ratchford and Gupta price-quality relations are related to a measure of market efficiency. In this paper, alternative explanations are presented to the effect that one cannot conclude from a poor price-quality relation that the market is inefficient. Further, some...

  16. 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...

  17. 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.

  18. Coal mining equipment

    International Nuclear Information System (INIS)

    Stein, R.R.; Martin, T.W.

    1991-01-01

    The word in longwall components is big, and these larger components have price tags to match. The logic behind the greater investment is that it will yield high production rates and good uptime statistics. This is true in most cases. More important than single-shift tonnage records, average shift production continues to climb upwards. This paper reports on the quality, and more significantly, the quantity of service supplied for long-wall equipment, which has reached levels that would have been seen as unachievable when longwall mining was first introduced in the U.S. The school of thought then was that longwall would increase productivity in part by reducing the number of production units and thus reducing the number of personnel employed underground. The expectation of fewer employees turned out to be unrealistic. That was probably one reason that some early attempts to install longwall system looked more like failures than vision of the future

  19. [Hydrotherapy equipment].

    Science.gov (United States)

    Tsibikov, V B; Ragozin, S I; Mikheeva, L V

    1985-01-01

    A flow-chart is developed demonstrating the relation between medical and prophylactic institutions within the organizational structure of the rehabilitation system and main types of rehabilitation procedures. In order to ascertain the priority in equipping rehabilitation services with adequate hardware the special priority criterion is introduced. The highest priority is assigned to balneotherapeutic and fangotherapeutic services. Based on the operation-by-operation analysis of clinical processes related to service and performance of balneologic procedures the preliminary set of clinical devices designed for baths, basins and showers in hospitals and rehabilitation departments is defined in a generalized form.

  20. Changing nature of equipment and parts qualification

    International Nuclear Information System (INIS)

    Bucci, R.M.

    1988-01-01

    Ideally, the original supplier of a piece of nuclear safety-related equipment has performed a qualification program and will continue to support that equipment throughout the lifetime of the nuclear power plants in which in equipment is installed. The supplier's nuclear quality assurance program will be maintained and he will continue to offer all necessary replacement parts. These parts will be identical to the original parts, certified to the original purchase order requirements, and the parts will be offered at competitive prices. Due to the changing nature of the nuclear plant equipment market, however, one or more of those ideal features are frequently unavailable when safety-related replacement equipment or parts are required. Thus, the process of equipment and parts qualification has had to adjust in order to ensure obtaining qualified replacements when needed. This paper presents some new directions taken in the qualification of replacement equipment and parts to meet changes in the marketplace

  1. Spatial and temporal distribution of cotton squares and small cotton bolls fallen on ground after damage by boll weevil and the efficiency of the equipment used to collect them

    Directory of Open Access Journals (Sweden)

    Carlos Alberto Domingues da Silva

    Full Text Available ABSTRACT: In this study, we determined the spatial and temporal distribution of fallen cotton squares and small cotton bolls fallen damaged by boll weevil and the efficiency and time interval of the equipment used to collect cotton samples. Spatial and temporal distribution of cotton squares and small cotton bolls fallen on the soil damaged by boll weevil among cotton rows was determined in an experimental design of randomized blocks in a factorial arrangement of 4x3, represented by soil surface tracks located at 1-11cm, 12-22cm, 23-33cm, and 34-44cm away from the planting row of cotton plants 70, 85, and 100 days of age. Efficiency and collection time interval of the cotton samples fallen on the soil infested by boll weevil by plastic rakes that were straight or fan-shaped, big broom, collector instrument model CNPA and aspirator of leaves ‘Trapp’ were determined in randomized block design with five treatments, 10 repetitions for each. Results demonstrated that the collection of cotton samples must be performed with greater attention to soil strips located below the cotton top projection and aspirator ‘Trapp’ of leaves was more appropriate for the operation as it used less time of collection with similar efficiency to other available equipment.

  2. Electricity prices differences between France and Germany

    International Nuclear Information System (INIS)

    Hensing, I.; Nolden, A.; Riechmann, Ch.; Schulz, W.

    1998-01-01

    High electricity prices in Germany especially as compared to France have played an important role in the electricity liberalization debate in Germany. The price differences can largely be explained by cost differences in electricity generation, the electricity grids, personnel cost and local taxes. Further analysis suggests that efficiency improvements upon market liberalization will only partly remove these price and cost differentials. Parts of the cost differentials are attributable to politically-motivated regulations and the (future) regulation of network functions. This implies that Germany can only expect to arrive at internationally comparable electricity prices if it advances with a reform of political and monopoly regulations alongside liberalizing electricity generation and trade. (author)

  3. Energy versus economic effectiveness in CHP (combined heat and power) applications: Investigation on the critical role of commodities price, taxation and power grid mix efficiency

    International Nuclear Information System (INIS)

    Comodi, Gabriele; Rossi, Mosè

    2016-01-01

    Starting from PES (primary energy saving) and CSR (cost saving ratio) definitions the work pinpoints a “grey area” in which CHP (combined heat and power – cogeneration) units can operate with profit and negative PES. In this case, CHP can be profitably operated with lower efficiency with respect to separate production of electrical and thermal energy. The work defines the R-index as the ratio between the cost of fuel and electricity. The optimal value of R-index for which CHP units operate with both environmental benefit (PES > 0) and economic profitability (CSR > 0) is the reference value of electrical efficiency, η_e_l_-_r_e_f, of separate production (national power grid mix). As a consequence, optimal R-index varies from Country to Country. The work demonstrates that the value of R corresponds to the minimum value of electrical efficiency for which any power generator operates with profit. The paper demonstrates that, with regard to the profitability of cogeneration, the ratio between the cost of commodities is more important than their absolute value so that different taxation of each commodity can be a good leverage for energy policy makers to promote high efficiency cogeneration, even in the absence of an incentive mechanism. The final part of the study presents an analysis on micro-CHP technologies payback times for different European Countries. - Highlights: • Investigation of the grey area where CHP profitably operates also with negative PES. • Study starts from definition of primary energy saving PES and cost saving ratio CSR. • Definition of the R-index as the ratio between the cost of fuel and electricity. • The optimal value of R for which the “grey area” disappears is R = η_e_l_-_r_e_f. • R is also the value of η_e_l for which any electric generator profitably operates.

  4. 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.

  5. 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...

  6. Use of automated test equipment and open-quotes paperlessclose quotes process control to implement efficient production of SSC dipole magnets

    International Nuclear Information System (INIS)

    Tobin, T.; Fagan, R.; Mitchell, D.

    1994-01-01

    In an effort to minimize human error and maximize process control and test capabilities during Collider Dipole Magnets (CDM) production, General Dynamics is developing automated test and process control equipment; known as Test ampersand Process Control Modules (TPCM's). When used along with software designed to create open-quotes paperlessclose quotes process control documentation, the system becomes the Test ampersand Process Control System (TPCS). This system simplifies business decisions and eliminates some problems normally associated with process control documentation, while reducing human errors during CDM production. It is also designed to reduce test operator errors normally incurred during test setup and data analysis. The authors present an overview of the TPCS hardware and software being developed at General Dynamics, along with the process control techniques included in TPCS

  7. Electricity: French industrialists tied up by prices

    International Nuclear Information System (INIS)

    Jemain, A.

    2004-01-01

    With more than 50% of increase in 3 years, the electricity prices reach summits in France. The industrialists, initially enthusiastic over the promises of the liberalization of European energy markets, are today particularly disappointed and denounce an irrational logic. The reasons of these inflationary prices are explained in this article: alignment of electricity prices with respect to the prices of the less efficient producers (oil and gas power plants), lack of peak production means which induces prices volatility, a commodity market model unsuitable to electricity specificities, lack of transparency in the establishment of reference prices, no margins for negotiation, and will of Electricite de France (EdF) to restore its financial status. (J.S.)

  8. Timing of Investment and Dynamic Pricing in Privatized Sectors

    OpenAIRE

    Tarola, Ornella; Trento, Sandro

    2010-01-01

    Firms in equipment-intensive sectors, where investment in production is performed at diminishing marginal cost, spend billions of dollars in equipment and production capacity. Typically, this expenditure is induced by either the replacement of existing equipment, which deteriorates with age and can result in higher operating costs and lower production capacity, or further investment, to benefit from any technological improvement embedded in new equipment. We identify the optimal price policy,...

  9. Cryogenic equipment

    International Nuclear Information System (INIS)

    Leger, L.; Javellaud, J.; Caro, C.; Gilguy, R.; Testard, O.

    1966-06-01

    The cryostats presented here were built from standard parts; this makes it possible to construct a great variety of apparatus at minimum cost. The liquid nitrogen and helium reservoirs were designed so as to reduce losses to a minimum, and so as to make the cryostats as autonomous as possible. The experimental enclosure which is generally placed in the lower part of the apparatus requires a separate study in every case. Furthermore, complete assemblies such as transfer rods, isolated traps and high vacuum valves, were designed with a similar regard for the economic aspects and for the need for standardization. This equipment thus satisfies a great variety of experimental needs; it is readily adaptable and the consumptions of helium and liquid nitrogen are very low. (authors) [fr

  10. 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. ...

  11. 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. .

  12. The Access Pricing Problem: A Synthesis.

    OpenAIRE

    Armstrong, Mark; Doyle, Chris; Vickers, John

    1996-01-01

    The Baumol-Willig efficient component pricing rule states that it is efficient to set the price of access to an essential facility equal to the direct cost of access plus the opportunity cost to the integrated access provider. The authors analyze the relevant notion of 'opportunity cost' under various assumptions about demand and supply conditions, including product differentiation, bypass, and substitution possibilities, which all reduce opportunity cost compared to the benchmark case. They ...

  13. 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...

  14. Pricing: A Normative Strategy in the Delivery of Human Services.

    Science.gov (United States)

    Moore, Stephen T.

    1995-01-01

    Discusses a normative strategy toward pricing human services, which will allow providers to develop pricing strategies within the context of organizational missions, goals, and values. Pricing is an effective tool for distributing resources and improving efficiency, and can be used as a tool for encouraging desired patterns of service utilization.…

  15. Theoretical and experimental fundamentals of designing promising technological equipment to improve efficiency and environmental safety of highly viscous oil recovery from deep oil reservoirs

    Science.gov (United States)

    Moiseyev, V. A.; Nazarov, V. P.; Zhuravlev, V. Y.; Zhuykov, D. A.; Kubrikov, M. V.; Klokotov, Y. N.

    2016-12-01

    The development of new technological equipment for the implementation of highly effective methods of recovering highly viscous oil from deep reservoirs is an important scientific and technical challenge. Thermal recovery methods are promising approaches to solving the problem. It is necessary to carry out theoretical and experimental research aimed at developing oil-well tubing (OWT) with composite heatinsulating coatings on the basis of basalt and glass fibers. We used the method of finite element analysis in Nastran software, which implements complex scientific and engineering calculations, including the calculation of the stress-strain state of mechanical systems, the solution of problems of heat transfer, the study of nonlinear static, the dynamic transient analysis of frequency characteristics, etc. As a result, we obtained a mathematical model of thermal conductivity which describes the steady-state temperature and changes in the fibrous highly porous material with the heat loss by Stefan-Boltzmann's radiation. It has been performed for the first time using the method of computer modeling in Nastran software environments. The results give grounds for further implementation of the real design of the OWT when implementing thermal methods for increasing the rates of oil production and mitigating environmental impacts.

  16. Electricity price forecast using Combinatorial Neural Network trained by a new stochastic search method

    International Nuclear Information System (INIS)

    Abedinia, O.; Amjady, N.; Shafie-khah, M.; Catalão, J.P.S.

    2015-01-01

    Highlights: • Presenting a Combinatorial Neural Network. • Suggesting a new stochastic search method. • Adapting the suggested method as a training mechanism. • Proposing a new forecast strategy. • Testing the proposed strategy on real-world electricity markets. - Abstract: Electricity price forecast is key information for successful operation of electricity market participants. However, the time series of electricity price has nonlinear, non-stationary and volatile behaviour and so its forecast method should have high learning capability to extract the complex input/output mapping function of electricity price. In this paper, a Combinatorial Neural Network (CNN) based forecasting engine is proposed to predict the future values of price data. The CNN-based forecasting engine is equipped with a new training mechanism for optimizing the weights of the CNN. This training mechanism is based on an efficient stochastic search method, which is a modified version of chemical reaction optimization algorithm, giving high learning ability to the CNN. The proposed price forecast strategy is tested on the real-world electricity markets of Pennsylvania–New Jersey–Maryland (PJM) and mainland Spain and its obtained results are extensively compared with the results obtained from several other forecast methods. These comparisons illustrate effectiveness of the proposed strategy.

  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. Modifying nodal pricing method considering market participants optimality and reliability

    Directory of Open Access Journals (Sweden)

    A. R. Soofiabadi

    2015-06-01

    Full Text Available This paper develops a method for nodal pricing and market clearing mechanism considering reliability of the system. The effects of components reliability on electricity price, market participants’ profit and system social welfare is considered. This paper considers reliability both for evaluation of market participant’s optimality as well as for fair pricing and market clearing mechanism. To achieve fair pricing, nodal price has been obtained through a two stage optimization problem and to achieve fair market clearing mechanism, comprehensive criteria has been introduced for optimality evaluation of market participant. Social welfare of the system and system efficiency are increased under proposed modified nodal pricing method.

  19. Lifetime of Mechanical Equipment

    Energy Technology Data Exchange (ETDEWEB)

    Leland, K.

    1999-07-01

    The gas plant at Kaarstoe was built as part of the Statpipe gas transport system and went on stream in 1985. In 1993 another line was routed from the Sleipner field to carry condensate, and the plant was extended accordingly. Today heavy additional supply- and export lines are under construction, and the plant is extended more than ever. The main role of the factory is to separate the raw gas into commercial products and to pump or ship it to the markets. The site covers a large number of well-known mechanical equipment. This presentation deals with piping, mechanical and structural disciplines. The lifetime of mechanical equipment is often difficult to predict as it depends on many factors, and the subject is complex. Mechanical equipment has been kept in-house, which provides detailed knowledge of the stages from a new to a 14 years old plant. The production regularity has always been very high, as required. The standard of the equipment is well kept, support systems are efficient, and human improvisation is extremely valuable.

  20. Institutions, Equilibria and Efficiency

    DEFF Research Database (Denmark)

    Competition and efficiency is at the core of economic theory. This volume collects papers of leading scholars, which extend the conventional general equilibrium model in important ways. Efficiency and price regulation are studied when markets are incomplete and existence of equilibria in such set...... in OLG, learning in OLG and in games, optimal pricing of derivative securities, the impact of heterogeneity...

  1. 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...

  2. Road pricing with complications

    DEFF Research Database (Denmark)

    Fosgerau, Mogens; Van Dender, Kurt

    2013-01-01

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

  3. Energy pricing and implications for the Nigerian environment

    International Nuclear Information System (INIS)

    Iwayemi, A.

    1999-01-01

    Energy pricing has been shown to have direct impact on energy demand and hence on energy efficiency. Regulated pricing which is below actual production price encourages inefficient use of energy with sometimes associated environmental problems. The important consideration presently being given to development of energy in an environmentally safe and economically prosperous society implies that energy pricing an play an important role in achieving these objectives

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

    Science.gov (United States)

    Ward, Frank A; Pulido-Velazquez, Manuel

    2009-01-01

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

  5. Medical Issues: Equipment

    Science.gov (United States)

    ... Information Packets Equipment Pool Living With SMA Medical Issues Palliative Breathing Orthopedics Nutrition Equipment Daily Life At ... curesma.org > support & care > living with sma > medical issues > equipment Equipment Individuals with SMA often require a ...

  6. TECHNICAL EQUIPMENT FOR SORTING APPLES BY SIZE

    Directory of Open Access Journals (Sweden)

    Vasilica Ştefan

    2012-01-01

    Full Text Available Need to increase the competitiveness of semi-subsistence farms, by valorisation of the fruits, led to research for designing of an equipment for sorting apples by size, in order to meet market requirement, pricing according to the size of the fruits.

  7. 36 CFR 1210.34 - Equipment.

    Science.gov (United States)

    2010-07-01

    ... 1210.34 Parks, Forests, and Public Property NATIONAL ARCHIVES AND RECORDS ADMINISTRATION GENERAL RULES... data, including date of disposal and sales price or the method used to determine current fair market... the following standards. For equipment with a current per unit fair market value of $5,000 or more...

  8. 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.

  9. 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.

  10. 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

  11. 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....

  12. Semiconductor Manufacturing equipment introduction

    International Nuclear Information System (INIS)

    Im, Jong Sun

    2001-02-01

    This book deals with semiconductor manufacturing equipment. It is comprised of nine chapters, which are manufacturing process of semiconductor device, history of semiconductor manufacturing equipment, kinds and role of semiconductor manufacturing equipment, construction and method of semiconductor manufacturing equipment, introduction of various semiconductor manufacturing equipment, spots of semiconductor manufacturing, technical elements of semiconductor manufacturing equipment, road map of technology of semiconductor manufacturing equipment and semiconductor manufacturing equipment in the 21st century.

  13. 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

  14. 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...

  15. 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

  16. 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.)

  17. 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.

  18. 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…

  19. 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

  20. Energy efficiency standards and innovation

    Science.gov (United States)

    Morrison, Geoff

    2015-01-01

    Van Buskirk et al (2014 Environ. Res. Lett. 9 114010) demonstrate that the purchase price, lifecycle cost and price of improving efficiency (i.e. the incremental price of efficiency gain) decline at an accelerated rate following the adoption of the first energy efficiency standards for five consumer products. The authors show these trends using an experience curve framework (i.e. price/cost versus cumulative production). While the paper does not draw a causal link between standards and declining prices, they provide suggestive evidence using markets in the US and Europe. Below, I discuss the potential implications of the work.

  1. 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...

  2. Implicit CO_2 prices of fossil fuel use in Switzerland

    International Nuclear Information System (INIS)

    Schleiniger, Reto

    2016-01-01

    This study aims to assess the efficiency of the fossil fuel taxation scheme currently in effect in Switzerland. To this end, the concept of implicit CO_2 prices is introduced, based on which prices for different fossil fuel uses are derived. Implicit CO_2 prices are defined as the difference between actual prices paid by consumers and efficient domestic fuel prices. Efficient domestic fuel prices, in turn, consist of private production costs, a uniform value added tax and only local external costs, not including external costs due to CO_2 emissions and global climate change. The resulting prices differ substantially, which suggests that there is considerable cost-saving potential in reducing CO_2 emissions in Switzerland. For passenger cars and air traffic, the implicit prices are negative. For these uses, higher fuel charges would therefore be beneficial from a purely domestic perspective, i.e., without considering the negative repercussions of global warming. - Highlights: •Efficient fossil fuel policy must take into account local and global externalities. •Implicit CO_2 prices are applied as efficiency indicator of fossil energy policy. •Implicit CO_2 prices vary strongly for different fossil fuel uses in Switzerland. •There is a large cost-saving potential in terms of reducing CO_2 emissions.

  3. Investigation of the performance of digital mammographic X-Ray equipment: Determination of noise equivalent quanta (NEQQC) and detective quantum efficiency (DQEQC) compared with the automated analysis of CDMAM test images with CDCOM and CDIC programs

    International Nuclear Information System (INIS)

    Loos, C.; Buhr, H.; Blendl, C.

    2013-01-01

    Purpose: The purpose of this study was to determine the values for noise equivalent quanta, detective quantum efficiency, modulation transfer function, noise power spectrum, and the values for the parameters for automated CDMAM test phantom analyses required to achieve satisfactory quality of digital mammograms. Materials and Methods: During the course of tests according to PAS 1054 (8 CR and 12 DR systems), test images were made with a test phantom insertion plate containing two lead edges in nearly horizontal and vertical directions. Only original data were processed with a program that was developed at the Cologne University of Applied Sciences (FH-Koeln). All equipment systems complied with the requirements regarding visual recognition of gold-plated mammo detail test objects. CDMAM test images were also evaluated using the CDIC (CUAS) and CDCOM (EUREF) programs. Results: CDMAM test images show comparable values for the parameters, precision, sensitivity and specificity. DR systems require about half the dose used for CR systems for similar results. The NEQ values achieved with the dose used for the CDMAM test images show larger scatter ranges. The MTF of the different equipment system types differ significantly from each other. Conclusion: Visual evaluation of CDMAM test images can be replaced by automated evaluation. Limiting values were determined for each parameter. Automated evaluation of CDMAM test phantom images should be used to determine the physical parameter NEQ QC . This method is much more sensitive to noise and sharpness influences and has a higher validity than diagnostic methods. Automated evaluation objectivizes testing. (orig.)

  4. 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

  5. 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. .

  6. 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.

  7. A computer based approach for Material, Manpower and Equipment managementin the Construction Projects

    Science.gov (United States)

    Sasidhar, Jaladanki; Muthu, D.; Venkatasubramanian, C.; Ramakrishnan, K.

    2017-07-01

    The success of any construction project will depend on efficient management of resources in a perfect manner to complete the project with a reasonable budget and time and the quality cannot be compromised. The efficient and timely procurement of material, deployment of adequate labor at correct time and mobilization of machinery lacking in time, all of them causes delay, lack of quality and finally affect the project cost. It is known factor that Project cost can be controlled by taking corrective actions on mobilization of resources at a right time. This research focuses on integration of management systems with the computer to generate the model which uses OOM data structure which decides to include automatic commodity code generation, automatic takeoff execution, intelligent purchase order generation, and components of design and schedule integration to overcome the problems of stock out. To overcome the problem in equipment management system inventory management module is suggested and the data set of equipment registration number, equipment number, description, date of purchase, manufacturer, equipment price, market value, life of equipment, production data of the equipment which includes equipment number, date, name of the job, hourly rate, insurance, depreciation cost of the equipment, taxes, storage cost, interest, oil, grease, and fuel consumption, etc. is analyzed and the decision support systems to overcome the problem arising out improper management is generated. The problem on labor is managed using scheduling, Strategic management of human resources. From the generated support systems tool, the resources are mobilized at a right time and help the project manager to finish project in time and thereby save the abnormal project cost and also provides the percentage that can be improved and also research focuses on determining the percentage of delays that are caused by lack of management of materials, manpower and machinery in different types of projects

  8. Economic information from Smart Meter: Nexus Between Demand Profile and Electricity Retail Price Between Demand Profile and Electricity Retail Price

    OpenAIRE

    Yu, Yang; Liu, Guangyi; Zhu, Wendong; Wang, Fei; Shu, Bin; Zhang, Kai; Rajagopal, Ram; Astier, Nicolas

    2016-01-01

    In this paper, we demonstrate that a consumer's marginal system impact is only determined by their demand profile rather than their demand level. Demand profile clustering is identical to cluster consumers according to their marginal impacts on system costs. A profile-based uniform-rate price is economically efficient as real-time pricing. We develop a criteria system to evaluate the economic efficiency of an implemented retail price scheme in a distribution system by comparing profile cluste...

  9. The economic cost of fuel price subsidies in Ghana

    Science.gov (United States)

    Ofori, Roland Oduro

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

  10. Option price calibration from Renyi entropy

    International Nuclear Information System (INIS)

    Brody, Dorje C.; Buckley, Ian R.C.; Constantinou, Irene C.

    2007-01-01

    The calibration of the risk-neutral density function for the future asset price, based on the maximisation of the entropy measure of Renyi, is proposed. Whilst the conventional approach based on the use of logarithmic entropy measure fails to produce the observed power-law distribution when calibrated against option prices, the approach outlined here is shown to produce the desired form of the distribution. Procedures for the maximisation of the Renyi entropy under constraints are outlined in detail, and a number of interesting properties of the resulting power-law distributions are also derived. The result is applied to efficiently evaluate prices of path-independent derivatives

  11. A Simple Measure of Price Adjustment Coefficients.

    OpenAIRE

    Damodaran, Aswath

    1993-01-01

    One measure of market efficiency is the speed with which prices adjust to new information. The author develops a simple approach to estimating these price adjustment coefficients by using the information in return processes. This approach is used to estimate t he price adjustment coefficients for firms listed on the NYSE and the A MEX as well as for over-the-counter stocks. The author finds evidence of a lagged adjustment to new information in shorter return intervals for firms in all market ...

  12. Electricity price and tariff problems and approaches to their solving

    International Nuclear Information System (INIS)

    Piha, M.

    1994-01-01

    The following problems are discussed: (i) integrity of the tariff system, price setting and price control in relation to the secondary market; (ii) long-term contracting relations between the subjects - primary and secondary market entities; (iii) the setting of electricity purchase prices from independent producers; (iv) international integration of national systems, including electricity import prices; (v) cross-subsidies within the system; (vi) identification of adverse environmental impacts and their remediation by incorporating the associated costs into electricity prices; (vii) the cost basis of prices; (viii) objectivization of the cost basis; (ix) unification/diversification of the price and tariff levels and the associated distribution rent problem; (x) rational structure of the tariff system with respect to its complexity and ties to the measuring and control instrumentation and their efficiency; and (xi) breakdown of the costs of heat and electricity cogeneration and a fair price setting. (J.B.)

  13. International comparison of energy price using a purchasing power parity

    Energy Technology Data Exchange (ETDEWEB)

    Yoo, Dong Hun; Jo, Sung Han [Korea Energy Economics Institute, Euiwang (Korea)

    1999-05-01

    The price control of government results in price distortion as well as lowering efficiency of energy market and distortion of allocating resources. Consequently, such a price policy leads to energy overconsumption and has negative influences on other policies trying to reduce environmental burden resulted from energy consumption. When the energy price does not reflect the market price properly, it results in inefficiency of energy industry and it makes very difficult to supply investment funds. Therefore, the government is planning to implement liberalization of energy price step by step. The purpose of this study is to provide basic materials for establishing a reasonable energy price policy through the international comparison among OECD countries on major products price focusing on petroleum products. To overcome problems of exchange rate, a purchasing power indicator from OECD was used for comparative analysis with OECD countries. 11 refs. 1 fig., 23 tabs.

  14. Selection of equipment for equipment qualification

    International Nuclear Information System (INIS)

    Torr, K.G.

    1989-01-01

    This report describes the methodology applied in selecting equipment in the special safety systems for equipment qualification in the CANDU 600 MW nuclear generating stations at Gentilly 2 and Point Lepreau. Included is an explanation of the selection procedure adopted and the rationale behind the criteria used in identifying the equipment. The equipment items on the list have been grouped into three priority categories as a planning aid to AECB staff for a review of the qualification status of the special safety systems

  15. 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. ...

  16. 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. ...

  17. 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. ...

  18. 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. ...

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

    Science.gov (United States)

    2010-01-01

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

  20. 7 CFR 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. ...

  1. 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. ...

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

    Science.gov (United States)

    2010-01-01

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

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

    Science.gov (United States)

    2010-01-01

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

  4. 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. ...

  5. Design and construction of a air pollutant gases sampler equipment

    International Nuclear Information System (INIS)

    Gomez S, R.A.; Rodriguez, T.J.

    1996-01-01

    This thesis is about the sketch and construction of an equipment which samples contaminated gases in the air. The topic of this work, is to propose a solution for imported and national equipment. The solution consist on lower prices of imported and national equipment without loosing the accuracy and the precision of those now available. The investigation shows all process to sample gases and theirs measurement for which all the mechanical, electric and electronic equipment, and the necessary software for giving the results in a computerized way were outlined. With this work it was able to succeed in measurements with a national low price, accurate, reliable, programmable, completely automatic and easy to use. This equipment exceed in accuracy the Japanese and the american equipment

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

    DEFF Research Database (Denmark)

    Jiang, Liping; Al-Ajlouni, Omar

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

  7. Pricing of electricity in Indonesia

    International Nuclear Information System (INIS)

    Amarullah, M.

    1983-01-01

    The objectives of this study are 1) to establish a sound theoretical basis for the determinants of electricity demand in Indonesia, 2) to measure the welfare losses of existing electricity pricing, and 3) to suggest a method of reducing these welfare losses. An econometric model for electricity demand is estimated using pooled time-series of fifteen regions in Indonesia covering the period 1970-1979. The short run price elasticities for both residential and industrial/business sectors are found to be inelastic, while the long run price elasticities for these sectors are found to be quite elastic with a value of -.61 for the residential sector and of -1.1 for the industrial/business sector. Income elasticity is .8 in the short run and around 1.00 for the long run. The exposure variable that captures the accessibility of electricity, has long run elasticity of 1.00 for the residential sector and less than 1.00 for the industrial/business sector. Due to distributional considerations, the 1980's electricity rate was set below its efficient level, and has created a welfare loss of Rp.8273.23 million per month. This accounts for 36.03% of the monthly electricity revenue. A rebate mechanism is recommended in this study, which provides a way to mitigate conflicting aspects of efficiency and equity

  8. 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...

  9. 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.

  10. Airport Pricing Strategies

    Science.gov (United States)

    Pels, Eric; Verhoef, Erik T.

    2003-01-01

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

  11. 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.

  12. Target Price Accuracy

    Directory of Open Access Journals (Sweden)

    Alexander G. Kerl

    2011-04-01

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

  13. 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...

  14. 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 ...

  15. 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

  16. Price trends and project viability

    International Nuclear Information System (INIS)

    Olsen, W.H.

    1999-01-01

    The paper discusses some of the remarkable changes that have occurred in the oil and gas industry over about the past 25 years. In the past ten years alone, technology and politics have brought new ways of working together and the recovery of resources once thought of as impossible. Cooperation appears to be a key word. The paper was presented under the sub-headings of the environment, global energy outlook, technological drivers and the challenge ahead. The current low price of oil will inevitably slow down exploration and field development but the author remains optimistic despite the tough challenges. The paper contains many diagrams relating to production, costs, efficiency, exploration, reserves, price forecasts and exploration technology

  17. Energy-efficient projecting and purchasing and means of promoting the use of energy efficient equipment within industry; Energieffektiv projektering og indkoeb samt vaerktoejer til fremme af energieffektivt udstyr til erhvervsvirksomheder

    Energy Technology Data Exchange (ETDEWEB)

    1994-04-01

    The first aim was to identify the barriers to energy efficient projecting and related purchasing in businesses and to suggest means to remove these barriers. It is stated that if energy consumption is taken into consideration in the first planning phase and before making purchases, energy-saving can be achieved at a reasonable investment. Examples are given to illustrate this point. As a result of interviews and discussions with involved persons, it was found that constraints are not only economical but also take the form of lack of sufficient time, procrastination on the part of decision-makers, lack of relevant information and a certain reluctance to experiment with new ideas. A three-phased decision process is suggested. It was found that energy-saving was not always given very high priority. Consultants should point out the relation between energy saving and environmental protection. Training and campaigning activities are essential. Consultants should be able to produce documentation to prove their theories on energy saving within industry. An effective organisation of consultancy services is essential. Clients` attitudes to energy savings must be influenced. A sequence of practical goals should be set up during the planning process. Cost-benefit analyses were carried out in relation to seven of the suggested plans for breaking down the barriers to energy-effective projecting. (AB) (16 refs.)

  18. 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.

  19. 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...

  20. 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...

  1. 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...

  2. 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

  3. 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...

  4. 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.

  5. 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

  6. Market fundamentals, competition and natural-gas prices

    International Nuclear Information System (INIS)

    Hulshof, Daan; Maat, Jan-Pieter van der; Mulder, Machiel

    2016-01-01

    After the liberalisation of the gas industry, trading hubs have emerged in Europe. Although these hubs appear to be liquid market places fostering gas-to-gas competition, the efficiency of the gas market remains a topic of interest as a fair share of gas is still traded through long-term contracts with prices linked to the oil price while the number of gas suppliers to the European market is limited. In order to assess the efficiency of the gas market, we analyse the day-ahead spot price at the Dutch gas hub over the period 2011–2014. We find that the oil price had a small positive impact on the gas price. Changes in the concentration on the supply side did not affect the movement in gas prices. The availability of gas in storages and the outside temperature negatively influenced the gas price. We also find that the gas price was related to the production of wind electricity. Overall, we conclude that the day-ahead gas prices are predominantly determined by gas-market fundamentals. Policies to further integrate gas markets within Europe may extend this gas-to-gas competition to a larger region. - Highlights: •We analyse the development of the day-ahead spot price at TTF over 2011–2014. •The oil price had a small impact on the gas price, while the coal price had no effect. •Changes in the concentration on the supply side did not affect the gas prices. •The gas prices are predominantly determined by weather and storage availability. •Policies to integrate gas markets foster gas-to-gas competition.

  7. 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...

  8. A Study on Rational Pricing System for Water Supply

    Energy Technology Data Exchange (ETDEWEB)

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

    2001-12-01

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

  9. 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.)

  10. Days individual equipment of protection and professional risks; Equipements de protection individuelle et risques professionnelles

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    The personal protection equipment is studied in the legal way (legal liabilities, certification, European texts), technical way (ergonomics, painfulness of ventilated equipment wearing, reliability of a respirable air line, protection gloves against the chemical risk, exposure to nano particulates, working in hot area), human factors (hostile area and emotion management), studies on personal equipment such evaluation, efficiency, conception of new equipment, physiological tolerance, limit of use, and some general safety studies on the working places. (N.C.)

  11. Correlation between Chinese and international energy prices based on a HP filter and time difference analysis

    International Nuclear Information System (INIS)

    He, Yongxiu; Wang, Bing; Wang, Jianhui; Xiong, Wei; Xia, Tian

    2013-01-01

    To establish a reasonable system and mechanism for Chinese energy prices, we use the Granger causality test, Hodrick–Prescott (HP) filter and time difference analysis to research the pricing relationship between Chinese and international energy prices. We find that Chinese and international crude oil prices changed synchronously while Chinese refined oil prices follow the changes of international oil prices with the time difference being about 1 month to 2 months. Further, Australian coal prices Granger causes Chinese coal prices, and there is a high correlation between them. The U.S. electricity price is influenced by the WTI crude oil price, the U.S. gasoline price and the HenryHub gas price. Due to the unreasonable price-setting mechanism and regulation from the central government, China′s terminal market prices for both electricity and natural gas do not reflect the real supply–demand situation. This paper provides quantitative results on the correlation between Chinese and international energy prices to better predict the impact of international energy price fluctuations on China′s domestic energy supply and guide the design of more efficient energy pricing policies. Moreover, it provides references for developing countries to improve their energy market systems and trading, and to coordinate domestic and international energy markets. -- Highlights: •The Hodrick-Prescott filter and time difference analysis are used to research the correlation among energy prices. •Our study finds that the U.S. and British refined oil prices Granger cause the Chinese refined oil price. •Both Chinese and the Australian coal prices play an important role in the international coal market. •The Chinese terminal electric power and terminal natural gas prices are not highly correlated. •The results are useful for guiding the design of more efficient energy pricing policies in China

  12. Price-elastic demand in deregulated electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Siddiqui, Afzal S.

    2003-05-01

    The degree to which any deregulated market functions efficiently often depends on the ability of market agents to respond quickly to fluctuating conditions. Many restructured electricity markets, however, experience high prices caused by supply shortages and little demand-side response. We examine the implications for market operations when a risk-averse retailer's end-use consumers are allowed to perceive real-time variations in the electricity spot price. Using a market-equilibrium model, we find that price elasticity both increases the retailers revenue risk exposure and decreases the spot price. Since the latter induces the retailer to reduce forward electricity purchases, while the former has the opposite effect, the overall impact of price responsive demand on the relative magnitudes of its risk exposure and end-user price elasticity. Nevertheless, price elasticity decreases cumulative electricity consumption. By extending the analysis to allow for early settlement of demand, we find that forward stage end-user price responsiveness decreases the electricity forward price relative to the case with price-elastic demand only in real time. Moreover, we find that only if forward stage end-user demand is price elastic will the equilibrium electricity forward price be reduced.

  13. A uniform price auction with locational price adjustments for competitive electricity markets

    International Nuclear Information System (INIS)

    Ethier, R.; Mount, T.; Schulze, W.; Zimmerman, R.; Thomas, R.

    1999-01-01

    Competitive electricity markets which rely on centralized dispatch require a mechanism to solicit offers from competing generators. Ideally, such an auction mechanism, provides incentives to submit offers equal to the marginal cost of generation for each generator. Economic theory suggests that the Uniform Price auction is an appropriate institution. However, an efficient implementation of this auction in an electricity context requires that the offers used in the auction reflect the appropriate locational price adjustments for transmission losses and congestion. This paper describes a uniform price auction that incorporates locational price adjustments on a Web-based platform suitable for experimentation. Preliminary results show dramatically different price and revenue results when compared with a simple continuous Discriminative auction. (author)

  14. 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....

  15. 24 CFR 965.306 - Energy conservation equipment and practices.

    Science.gov (United States)

    2010-04-01

    ... Measures § 965.306 Energy conservation equipment and practices. In purchasing original or, when needed, replacement equipment, PHAs shall acquire only equipment that meets or exceeds the minimum efficiency... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Energy conservation equipment and...

  16. 46 CFR 117.175 - Survival craft equipment.

    Science.gov (United States)

    2010-10-01

    ... 46 Shipping 4 2010-10-01 2010-10-01 false Survival craft equipment. 117.175 Section 117.175... AND ARRANGEMENTS Survival Craft Arrangements and Equipment § 117.175 Survival craft equipment. (a) General. Each item of survival craft equipment must be of good quality, and efficient for the purpose it...

  17. 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

  18. 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...

  19. 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

  20. 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

  1. 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)

  2. 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

  3. Essay on Option Pricing, Hedging and Calibration

    DEFF Research Database (Denmark)

    da Silva Ribeiro, André Manuel

    Quantitative finance is concerned about applying mathematics to financial markets.This thesis is a collection of essays that study different problems in this field: How efficient are option price approximations to calibrate a stochastic volatilitymodel? (Chapter 2) How different is the discretely...... of dynamics? (Chapter 5) How can we formulate a simple free-arbitrage model to price correlationswaps? (Chapter 6) A summary of the work presented in this thesis: Approximation Behooves Calibration In this paper we show that calibration based on an expansion approximation for option prices in the Heston...... stochastic volatility model gives stable, accurate, and fast results for S&P500-index option data over the period 2005 to 2009. Discretely Sampled Variance Options: A Stochastic Approximation Approach In this paper, we expand Drimus and Farkas (2012) framework to price variance options on discretely sampled...

  4. The volatility of stock market prices.

    Science.gov (United States)

    Shiller, R J

    1987-01-02

    If the volatility of stock market prices is to be understood in terms of the efficient markets hypothesis, then there should be evidence that true investment value changes through time sufficiently to justify the price changes. Three indicators of change in true investment value of the aggregate stock market in the United States from 1871 to 1986 are considered: changes in dividends, in real interest rates, and in a direct measure of intertemporal marginal rates of substitution. Although there are some ambiguities in interpreting the evidence, dividend changes appear to contribute very little toward justifying the observed historical volatility of stock prices. The other indicators contribute some, but still most of the volatility of stock market prices appears unexplained.

  5. 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.

  6. Price Formation by Bargaining and Posted Prices

    NARCIS (Netherlands)

    Kultti, K.K.

    1997-01-01

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

  7. 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)

  8. 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.

  9. 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)

  10. 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.

  11. Electricity pricing: optimal operation and investment by industrial consumers

    Energy Technology Data Exchange (ETDEWEB)

    Outhred, H.R.; Kaye, R.J.; Sutanto, D.; Manimaran, R.; Bannister, C.H.; Lee, Y.B.

    1988-08-01

    Ongoing research in the areas of economically efficient electricity pricing and industrial consumer response is described. A new electricity pricing theory is described that incorporates future uncertainty and intertemporal linkages between decisions. It indicates that electricity prices should contain two terms - short-run marginal cost plus a term that reflects how each particular decision is likely to affect future global welfare. A practical implementation using spot prices and forward contracts plus financial instruments for risk sharing and decision coordination is explored, and a procedure for developing long-term pricing policy is considered. The operation of industrial plant has been investigated and models developed to optimize plant behaviour in response to spot prices and forward contracts for electricity. These models are described and results of simulation studies discussed. The economic efficiency and risk sharing advantages of this advanced tariff structure compared with a conventional time-of-use tariff are illustrated.

  12. EV Charging Algorithm Implementation with User Price Preference

    Energy Technology Data Exchange (ETDEWEB)

    Wang, Bin; Hu, Boyang; Qiu, Charlie; Chu, Peter; Gadh, Rajit

    2015-02-17

    in this paper, we propose and implement a smart Electric Vehicle (EV) charging algorithm to control the EV charging infrastructures according to users’ price preferences. EVSE (Electric Vehicle Supply Equipment), equipped with bidirectional communication devices and smart meters, can be remotely monitored by the proposed charging algorithm applied to EV control center and mobile app. On the server side, ARIMA model is utilized to fit historical charging load data and perform day-ahead prediction. A pricing strategy with energy bidding policy is proposed and implemented to generate a charging price list to be broadcasted to EV users through mobile app. On the user side, EV drivers can submit their price preferences and daily travel schedules to negotiate with Control Center to consume the expected energy and minimize charging cost simultaneously. The proposed algorithm is tested and validated through the experimental implementations in UCLA parking lots.

  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. Price Transparency in the Online Age.

    Science.gov (United States)

    Kaplan, Jonathan L; Mills, Parker H

    2016-05-01

    Plastic surgeons are sometimes hesitant to provide their pricing information online, due to several concerns. However, if implemented right, price transparency can be used as a lead generation tool that provides consumers with the pricing information they want and gives the physician the consumer's contact information for follow-up. This study took place during the author's first year in private practice in a new city. An interactive price transparency platform (ie, cost estimator) was integrated into his website, allowing consumers to submit a "wishlist" of procedures to check pricing on these procedures of interest. However, the consumer must submit their contact information to receive the desired breakdown of costs that are tailored based on the author's medical fees. During that first year, without any advertising expenditure, the author's website received 412 wishlists from 208 unique consumers. Consumers (17.8%) that submitted a wishlist came in for a consultation and 62% of those booked a procedure. The average value of a booked procedure was over US $4000 and cumulatively, all of the leads from this one lead source in that first year generated over US $92,000 in revenue. When compared with non-price-aware patients, price-aware patients were 41% more likely to book a procedure. Price transparency led to greater efficiency and reduced consultations that ended in "sticker shock." When prudently integrated into a medical practice, price transparency can be a great lead generation source for patients that are (1) paying out of pocket for medically necessary services due to a high-deductible health plan or (2) paying for services not typically covered by insurance, such as cosmetic services.

  15. Market structure, price rigidity, and performance in the Indonesian food and beverages industry

    NARCIS (Netherlands)

    Setiawan, M.

    2012-01-01

    Keywords: industrial concentration, price rigidity, technical efficiency, price-cost margin, Structure-Conduct-Performance (SCP), new empirical industrial organization (NEIO), Indonesian food and beverages industry, Data Envelopment Analysis (DEA), system of equations

  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. The Implementation of Marginal External Cost Pricing in Road Transport

    OpenAIRE

    Verhoef, Erik T.

    1998-01-01

    This paper discusses a number of issues that will become increasingly important nowthat the concept of marginal external cost pricing becomes more likely to be implementedas a policy strategy in transport in reality. The first part of the paper deals with thelong-run efficiency of marginal external cost pricing. It is shown that such prices notonly optimize short-run mobility, given the shape and position of the relevant demandand cost curves, but even more importantly, also optimally affect ...

  20. Price impact on Russian gas production and export

    International Nuclear Information System (INIS)

    Kononov, Y.D.

    2003-01-01

    The paper examines the prospects for Russian gas output and export under different price development. Growth of gas production and transportation costs, following an increase of gas export and production, is estimated. An attempt is made to determine the relation of efficient (from the point of view of gas companies) gas export volumes to prices on external energy markets. The paper presents a quantitative estimate of the possible impact of domestic gas price policy on gas output in Western Siberia. (author)

  1. Unfair agricultural prices cause hunger and resources dilapidation

    OpenAIRE

    Pinheiro, António C.

    2009-01-01

    The main objective of this paper is to present facts and arguments trying to prove that unfair prices are the most important cause for the dilapidation of human and natural resources. In many poor countries farmers sell their products at prices below their real cost. In these countries, most often, family labour and equipment depreciation are not accounted as real costs. Although the huge technical progress occurred in the last fifty years, or because of it, many thousands of farmers in undev...

  2. Steel: Price and Policy Issues

    National Research Council Canada - National Science Library

    Cooney, Stephen

    2006-01-01

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

  3. Pricing American and Asian Options

    OpenAIRE

    Pat Muldowney

    2015-01-01

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

  4. Radio monitoring problems, methods, and equipment

    CERN Document Server

    Rembovsky, Anatoly; Kozmin, Vladimir; Smolskiy, Sergey

    2009-01-01

    Offers a unified approach to fundamental aspects of Automated Radio Monitoring (ARM). This book discusses the development, modeling, design, and manufacture of ARM systems. It provides classification and descriptions of modern high-efficient hardware-software ARM equipment, including the equipment for detection and radio direction-finding.

  5. Pricing of new vaccines.

    Science.gov (United States)

    Lee, Bruce Y; McGlone, Sarah M

    2010-08-01

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

  6. 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)

  7. 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

  8. 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)

  9. 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.

  10. 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...

  11. 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...

  12. 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....

  13. 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 ...

  14. 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)

  15. 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...

  16. 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

  17. 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)

  18. 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

  19. 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...

  20. 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....

  1. 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...

  2. 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...

  3. 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)

  4. 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

  5. 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...

  6. 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)

  7. 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

  8. 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/...

  9. 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

  10. 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,…

  11. 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

  12. Price competition among Dutch sickness funds

    OpenAIRE

    Varkevisser, Marco; Geest, Stéphanie

    2003-01-01

    textabstractIn general, competition enhances efficiency. On the market for health insurance free market competition, however, has unwanted side-effects. The existence of asymmetrical information can lead to adverse selection and cream skimming. Adequate risk-adjustment removes the incentives for cream skimming and balances the negative consequences of adverse selection. In an attempt to enhance efficiency, the Dutch government in 1992 introduced price competition between social health insurer...

  13. Shipboard and laboratory equipment

    Digital Repository Service at National Institute of Oceanography (India)

    Shyamprasad, M.; Ramaswamy, V.

    The polymetallic nodules occur at an average depth of 4500 m. Adequate equipment and techniques are required for the exploration at such depths. Shipboard and various laboratory equipments for the sampling of polymetallic nodules is described...

  14. Remote handling equipment

    International Nuclear Information System (INIS)

    Clement, G.

    1984-01-01

    After a definition of intervention, problems encountered for working in an adverse environment are briefly analyzed for development of various remote handling equipments. Some examples of existing equipments are given [fr

  15. Energy efficiency and CO2: is electricity the key factor?

    Energy Technology Data Exchange (ETDEWEB)

    Bamberger, Y.

    2007-07-01

    Europe must face soon to the depletion of fossil energy resources. Efficiency in end energy uses is a key to prepare this challenge. First, the report shows that significant energy efficiency capacities remain in the main economy sectors in France and Europe: buildings, industry, transportation. The key technologies, mainly electricity-driven, are briefly presented, together with the related main tracks for R and D: heat pumps, thermal insulation, induction and mechanical vapour compression for industry, plugged hybrid vehicle, LED sources for lighting. Their ability to decrease CO2 emissions is shown. Control equipment and users behaviour are pointed out, mainly with the key role of price energy with recent French experience : load shifting, peak shaving. Finally, the report shows that a firm policy, based on high performance equipments, could lead to a significant decrease of energy needs in France around 2030.

  16. Do Canadian electricity prices reflect costs?

    International Nuclear Information System (INIS)

    Jaccard, M.

    1993-01-01

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

  17. 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)

  18. 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.

  19. Exercise Equipment: Neutral Buoyancy

    Science.gov (United States)

    Shackelford, Linda; Valle, Paul

    2016-01-01

    Load Bearing Equipment for Neutral Buoyancy (LBE-NB) is an exercise frame that holds two exercising subjects in position as they apply counter forces to each other for lower extremity and spine loading resistance exercises. Resistance exercise prevents bone loss on ISS, but the ISS equipment is too massive for use in exploration craft. Integrating the human into the load directing, load generating, and motion control functions of the exercise equipment generates safe exercise loads with less equipment mass and volume.

  20. BP volume reduction equipment

    International Nuclear Information System (INIS)

    Kitamura, Yoshinori; Muroo, Yoji; Hamanaka, Isao

    2003-01-01

    A new type of burnable poison (BP) volume reduction system is currently being developed. Many BP rods, a subcomponent of spent fuel assemblies are discharged from nuclear power reactors. This new system reduces the overall volume of BP rods. The main system consists of BP rod cutting equipment, equipment for the recovery of BP cut pieces, and special transport equipment for the cut rods. The equipment is all operated by hydraulic press cylinders in water to reduce operator exposure to radioactivity. (author)

  1. Bridging the gap between theory and practice of transmission pricing

    International Nuclear Information System (INIS)

    Hughes, W.R.; Felak, R.

    1996-01-01

    The authors describe some strategies for pricing transmission service. Traditionally, wheeling prices have been postage stamp rates based on the level of megawatt demand; a related approach would assign grid costs to customers based on their respective shares of overall megawatt-miles. Innovative regulators have recently approved transmission rates based on opportunity cost of foregone capacity and the incremental costs of additional capacity needed to enable delivery. Others determined prices designed to reflect short-run congestion costs on the grid. The authors assess these pricing approaches and their effects on the distribution of wealth and economic efficiency for both firm and interruptible services. 3 refs

  2. Fixing a carbon price will not be enough

    International Nuclear Information System (INIS)

    Dron, Dominique

    2015-01-01

    As some argue that defining a unique price for carbon price would be efficient and even sufficient to have our societies move towards sustainability, the author discusses this point of view and shows that it needs to be nuanced even if, for example, measures regarding the automotive industry resulted in the production of always less emitting vehicles. As the ETS market is collapsing when current and expected climatic hazards are keeping on increasing, she outlines that carbon price does not reflect the reality of faced challenges. Other examples are mentioned, for example taxing of pesticides in France which did not reduce their usage. She discusses what a price should be or reflect

  3. Some fundamental technical concepts about cost based transmission pricing

    International Nuclear Information System (INIS)

    Shirmohammadi, D.; Filho, X.V.; Gorenstin, B.; Pereira, M.V.P.

    1996-01-01

    In this paper the authors describe the basic technical concepts involved in developing cost based transmission prices. They introduce the concepts of transmission pricing paradigms and methodologies to better illustrate how transmission costs are transformed into transmission prices. The authors also briefly discuss the role of these paradigms and methodologies in promoting ''economic efficiency'' which is narrowly defined in this paper. They conclude the paper with an example of the application of some of these paradigms and methodologies for pricing transmission services in Brazil

  4. A Consistent Pricing Model for Index Options and Volatility Derivatives

    DEFF Research Database (Denmark)

    Kokholm, Thomas

    to be priced consistently, while allowing for jumps in volatility and returns. An affine specification using Lévy processes as building blocks leads to analytically tractable pricing formulas for volatility derivatives, such as VIX options, as well as efficient numerical methods for pricing of European options...... on the underlying asset. The model has the convenient feature of decoupling the vanilla skews from spot/volatility correlations and allowing for different conditional correlations in large and small spot/volatility moves. We show that our model can simultaneously fit prices of European options on S&P 500 across...

  5. A Consistent Pricing Model for Index Options and Volatility Derivatives

    DEFF Research Database (Denmark)

    Cont, Rama; Kokholm, Thomas

    2013-01-01

    to be priced consistently, while allowing for jumps in volatility and returns. An affine specification using Lévy processes as building blocks leads to analytically tractable pricing formulas for volatility derivatives, such as VIX options, as well as efficient numerical methods for pricing of European options...... on the underlying asset. The model has the convenient feature of decoupling the vanilla skews from spot/volatility correlations and allowing for different conditional correlations in large and small spot/volatility moves. We show that our model can simultaneously fit prices of European options on S&P 500 across...

  6. 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...

  7. 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 ...

  8. Energy markets and price relations

    International Nuclear Information System (INIS)

    Bergendahl, P.A.

    1986-10-01

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

  9. 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. ...

  10. Price transmission and market integration: a test of the central ...

    African Journals Online (AJOL)

    Price transmission and market integration: a test of the central market ... cassava production but to improvements in marketing efficiency of the traditional food market ... Improvements in road network and other communication infrastructure will ...

  11. Electrical equipment qualification

    International Nuclear Information System (INIS)

    Farmer, W.S.

    1983-01-01

    Electrical equipment qualification research programs being carried out by CEA, JAERI, and Sandia Laboratories are discussed. Objectives of the program are: (1) assessment of accident simulation methods for electrical equipment qualification testing; lower coarse (2) evaluation of equipment aging and accelerated aging methods; (3) determine radiation dose spectrum to electrical equipment and assess simulation methods for qualification; (4) identify inadequacies in electrical equipment qualification procedures and standards and potential failure modes; and (5) provide data for verifying and improving standards, rules and regulatory guides

  12. 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...

  13. Determinants Of Equity Prices In The Stock Market

    Directory of Open Access Journals (Sweden)

    Muhammad Usman Javaid

    2010-12-01

    Full Text Available This study examines the effect of market variables on the movement stock prices in Pakistan. Asset pricing is considered as efficient if the asset prices reflect all available market information. This study examined the extent to which some "information factors" or market indices affect the stock price. A simple regression model has been used to develop a relation between the variables (stock prices, earnings per share, gross domestic product, dividend, inflation and KIBOR after testing for multi-collinearity among the independent variables. All the variables have shown positive correlation with stock prices with some exceptions of GDP and inflation. This study has enriched the existing literature while it would help policy makers who are interested in deploying instruments of monetary policy and other economic indices for the growth of the capital market.

  14. Competition and the Reference Pricing Scheme for pharmaceuticals.

    Science.gov (United States)

    Ghislandi, Simone

    2011-12-01

    By introducing n (>1) firms with infinite cross-price elasticity (i.e. generic drugs), we explore the effects of competition on the optimal pricing strategies under a Reference Pricing Scheme (RPS). A two-stage model repeated infinite number of times is presented. When stage 1 is competitive, the equilibrium in pure strategies exists and is efficient only if the reference price (R) does not depend on the price of the branded product. When generics collude, the way R is designed is crucial for both the stability of the cartel among generics and the collusive prices in equilibrium. An optimally designed RPS must set R as a function only of the infinitely elastic side of the market and should provide the right incentives for competition. Copyright © 2011 Elsevier B.V. All rights reserved.

  15. Space Heating Equipment

    Energy Technology Data Exchange (ETDEWEB)

    Rafferty, Kevin D.

    1998-01-01

    The performance evaluation of space heating equipment for a geothermal application is generally considered from either of two perspectives: (a) selecting equipment for installation in new construction, or (b) evaluating the performance and retrofit requirements of an existing system. With regard to new construction, the procedure is relatively straightforward. Once the heating requirements are determined, the process need only involve the selection of appropriately sized hot water heating equipment based on the available water temperature. It is important to remember that space heating equipment for geothermal applications is the same equipment used in non-geothermal applications. What makes geothermal applications unique is that the equipment is generally applied at temperatures and flow rates that depart significantly from traditional heating system design. This chapter presents general considerations for the performance of heating equipment at non-standard temperature and flow conditions, retrofit of existing systems, and aspects of domestic hot water heating.

  16. 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...

  17. 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 ...

  18. Renewal of radiological equipment.

    Science.gov (United States)

    2014-10-01

    In this century, medical imaging is at the heart of medical practice. Besides providing fast and accurate diagnosis, advances in radiology equipment offer new and previously non-existing options for treatment guidance with quite low morbidity, resulting in the improvement of health outcomes and quality of life for the patients. Although rapid technological development created new medical imaging modalities and methods, the same progress speed resulted in accelerated technical and functional obsolescence of the same medical imaging equipment, consequently creating a need for renewal. Older equipment has a high risk of failures and breakdowns, which might cause delays in diagnosis and treatment of the patient, and safety problems both for the patient and the medical staff. The European Society of Radiology is promoting the use of up-to-date equipment, especially in the context of the EuroSafe Imaging Campaign, as the use of up-to-date equipment will improve quality and safety in medical imaging. Every healthcare institution or authority should have a plan for medical imaging equipment upgrade or renewal. This plan should look forward a minimum of 5 years, with annual updates. Teaching points • Radiological equipment has a definite life cycle span, resulting in unavoidable breakdown and decrease or loss of image quality which renders equipment useless after a certain time period.• Equipment older than 10 years is no longer state-of-the art equipment and replacement is essential. Operating costs of older equipment will be high when compared with new equipment, and sometimes maintenance will be impossible if no spare parts are available.• Older equipment has a high risk of failure and breakdown, causing delays in diagnosis and treatment of the patient and safety problems both for the patient and the medical staff.• Every healthcare institution or authority should have a plan for medical imaging equipment upgrade or replacement. This plan should look forward a

  19. 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)

  20. "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.

  1. 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. ...

  2. 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. ...

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

    Science.gov (United States)

    2010-01-01

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

  4. 7 CFR 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. ...

  5. 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. ...

  6. 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. ...

  7. 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. ...

  8. 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. ...

  9. Business administration of PET facilities. A nationwide survey for prices of PET screening and a cost analysis of three facilities

    International Nuclear Information System (INIS)

    Mitsutake, Naohiro; Fujii, Ryo; Oku, Shinya; Furui, Yuji; Yasunaga, Hideo

    2007-01-01

    The purpose of this study is to analyze the business administration of positron emission tomography (PET) facilities based on the survey of the price of PET cancer screening and cost analysis of PET examination. The questionnaire survey of the price of PET cancer screening was implemented for all PET facilities in Japan. Cost data of PET examination, including fixed costs and variable costs, were obtained from three different medical institutions. The marked price of the PET cancer screening was yen111,499 in average, and the most popular range of prices was between yen80,000 and yen90,000. Costs of PET per examination were accounted for yen110,675, yen79,158 and yen111,644 in facility A, B and C, respectively. The results suggested that facilities with two or more PET/CT per a cyclotron could only secure profits. In Japan, the boom in PET facility construction could not continue in accordance with increasing number of PET facilities. It would become more essential to analyze the appropriate distribution of PET facilities and the adequate amount of PET procedures from the perspective of efficient utilization of the PET equipments and supply of PET-related healthcare. (author)

  10. 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.

  11. PROBLEMS PERTAINING TO DIVERSIFICATION OF CIVIL EQUIPMENT IN EQUIPMENT OF MILITARY PURPOSE

    OpenAIRE

    A. I. Kotlabay; V. A. Korobkin; V. F. Tamelo; I. V. Kostko; S. V. Kondratiev

    2009-01-01

    Study of directions concerning development of military equipment, its modernization with the purpose to improve its military efficiency is an actual problem for the Armed Forces, military science, designers and researchers.The paper analyzes and estimates possibilities to use civil equipment for military purpose. Problems pertaining to technologies of double application, diversification of civil equipment in military engineering machinery are considered in the paper.

  12. Methods for tube attachment in a heat exchange equipment

    International Nuclear Information System (INIS)

    Shilin, O.V.; Vasil'ev, V.B.

    1984-01-01

    Two main ways of attaching tubes to tube panels in heat exchange equipment are analyzed: expanding and pulse method (by explosion, for instance). Labour-consumption and cost price for the fastening of brass, perlitic and corrosion-resistant tubes for both of the methods are presented. The extent of fitting out with equipment for tube fixing and ways of testing the joints for attachment are evaluated. Measures for improving the joint quality and introduction of the advanced technology are suggested

  13. Entropy-based financial asset pricing.

    Directory of Open Access Journals (Sweden)

    Mihály Ormos

    Full Text Available We investigate entropy as a financial risk measure. Entropy explains the equity premium of securities and portfolios in a simpler way and, at the same time, with higher explanatory power than the beta parameter of the capital asset pricing model. For asset pricing we define the continuous entropy as an alternative measure of risk. Our results show that entropy decreases in the function of the number of securities involved in a portfolio in a similar way to the standard deviation, and that efficient portfolios are situated on a hyperbola in the expected return-entropy system. For empirical investigation we use daily returns of 150 randomly selected securities for a period of 27 years. Our regression results show that entropy has a higher explanatory power for the expected return than the capital asset pricing model beta. Furthermore we show the time varying behavior of the beta along with entropy.

  14. Entropy-based financial asset pricing.

    Science.gov (United States)

    Ormos, Mihály; Zibriczky, Dávid

    2014-01-01

    We investigate entropy as a financial risk measure. Entropy explains the equity premium of securities and portfolios in a simpler way and, at the same time, with higher explanatory power than the beta parameter of the capital asset pricing model. For asset pricing we define the continuous entropy as an alternative measure of risk. Our results show that entropy decreases in the function of the number of securities involved in a portfolio in a similar way to the standard deviation, and that efficient portfolios are situated on a hyperbola in the expected return-entropy system. For empirical investigation we use daily returns of 150 randomly selected securities for a period of 27 years. Our regression results show that entropy has a higher explanatory power for the expected return than the capital asset pricing model beta. Furthermore we show the time varying behavior of the beta along with entropy.

  15. Pricing of electricity tariffs in competitive markets

    International Nuclear Information System (INIS)

    Keppo, J.; Raesaenen, M.

    1999-01-01

    In many countries electricity supply business has been opened for competition. In this paper we analyze the problem of pricing of electricity tariffs in these open markets, when both the customers' electricity consumption and the market price are stochastic processes. Specifically, we focus on regular tariff contracts which do not have explicit amounts of consumption units defined in the contracts. Therefore the valuation process of these contracts differs from the valuation of electricity futures and options. The results show that the more there is uncertainty about the customer's consumption, the higher the fixed charge of the tariff contract should be. Finally, we analyze the indication of our results to the different methods for estimating the customer's consumption in the competitive markets. Since the consumption uncertainties enter into the tariff prices, the analysis indicates that the deterministic standard load curves do not provide efficient methods for evaluating the customers' consumption in competitive markets

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

    Science.gov (United States)

    Tsourougiannis, Dimitrios

    2017-01-01

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

  17. Reconsidering energy efficiency

    International Nuclear Information System (INIS)

    Goldoni, Giovanni

    2007-01-01

    Energy and environmental policies are reconsidering energy efficiency. In a perfect market, rational and well informed consumers reach economic efficiency which, at the given prices of energy and capital, corresponds to physical efficiency. In the real world, market failures and cognitive frictions distort the consumers from perfectly rational and informed choices. Green incentive schemes aim at balancing market failures and directing consumers toward more efficient goods and services. The problem is to fine tune the incentive schemes [it

  18. Energy efficiency at Hydro-Quebec: Why forget the substitution of electricity by natural gas?

    International Nuclear Information System (INIS)

    Bernard, J.-T.

    1994-01-01

    Hydro-Quebec has launched an energy program which will cost $1.9 billion and which intends to save 9.3 TWh of electricity consumption by the year 2000, equivalent to 5.6% of the forecasted electricity consumption. The program only considers electricity and ignores other energy sources. An analysis is conducted to determine whether the subsidies that Hydro-Quebec is prepared to spend in each sector of the program would be sufficient to make up the difference between the cost of electricity and that of natural gas for the end-user. A positive response to this question will allow identification of a less costly way that Hydro-Quebec could realize its energy efficiency objectives. The analysis takes into account the marginal cost of electricity production, the average cost of energy efficiency measures, electricity prices, and the prices of natural gas and of gas-burning equipment. The results of a detailed analysis of four typical cases in the residential and commercial sectors indicate that market segments exist in which an energy efficiency program that includes substitution of other forms of energy for electricity would be preferable to a simple reduction in electricity consumption. However, the rationale for the Hydro-Quebec program is that electricity prices are based on historical average costs; as a result, electricity prices are lower than marginal costs. This problem should be addressed before considering expensive energy efficiency programs where the least-cost alternative is not even considered. 5 refs., 1 fig., 2 tabs

  19. 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.

  20. Technology for Price Management in Industrial Differential Product Market

    Directory of Open Access Journals (Sweden)

    E. V. Orlova

    2015-01-01

    Full Text Available The article studies price behavior of oligopolies in industrial market where price competition is replaced by non-price competition. There is a developed technology for pricing management of the products of industrial enterprises, which, unlike the existing ones, takes into account the dynamics of changes in consumer preferences and changes in the pricing policy of the enterprise competitor and is based on usage of system dynamics models to simulate the financial and economic performance of enterprises and the fuzzy model for situational analysis and decisionmaking on changes in prices for the products. A pricing simulation model is offered. It is based on system-dynamic modeling method, which takes into account the complex cause-to-effect concatenation of factors on price such as product quality, cost, price competition, price elasticity of economic demand, competitors’ quantity of output and estimates the impact of changing factors of internal and external enterprise environment on the effectiveness of its activities.The simulation model allows us to conduct diverse experiments and analyze the impact of management decisions on the efficiency of the enterprise. Based on the fuzzy approach a price decision-making model is developed. It operates not only precise (numeric values, but also qualitative assessments of variables and provides an adequate use of logical relationships and the laws of the mutual influence of market and production and economic factors. Qualitative dependences, which establish the influence of external and internal factors on the price change, are identified as a result of the study of economic laws and legal conformity that are in the context of rapid economic change and market turbulence may not be strictly formalized and take the form of linguistic statements, which express the conditional relationship between the qualitative assessments of initial factors and changes in the relative price.

  1. 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.

  2. 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

  3. Optimal core acquisition and pricing strategies for hybrid manufacturing and remanufacturing systems

    NARCIS (Netherlands)

    Caner Bulmus, Serra; Zhu, Stuart X.; Teunter, Ruud H.

    2014-01-01

    In this study, we combine two aspects of remanufacturing, namely product acquisition management and marketing (pricing) of the remanufactured products. We consider an original equipment manufacturer (OEM) who decides on the acquisition prices offered for returns from different quality types and on

  4. 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...

  5. 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...

  6. Marginal cost pricing of electricity

    International Nuclear Information System (INIS)

    Edsbaecker, G.

    1980-01-01

    The discipline is economics and the phenomenon is the power system. The purpose of this system is to produce, transmit and consume electricity in such a way that the sum of consumers and suppliers surplus in maximized. This is accomplished by the means of marginal cost pricing. The concepts of the power system and the relations prevailing between and among them are picked out, defined and analyzed in the frames of economic theory and operations research. Methods are developed aiming at efficient prices so that the short run function of the power system is managed in such a way that the sum of conumers and suppliers surplus is maximized within the framwork of this system, i.e. value of service of the power system is maximized. The task of developing such methods is accomplished subject to mixed production resources, transmission losses, periodic demand and also when there is lack of information concerning future and cost conditions. The main results are methods which take to account the conditions stated above. Methods not only allowing for traditional cost minimizing but also for maximation of value of service including a process of reaching optimum by gradual adaption when demand and cost curves are not known in advance. (author)

  7. 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

  8. RETRIEVAL EQUIPMENT DESCRIPTIONS

    International Nuclear Information System (INIS)

    J. Steinhoff

    1997-01-01

    The objective and the scope of this document are to list and briefly describe the major mobile equipment necessary for waste package (WP) retrieval from the proposed subsurface nuclear waste repository at Yucca Mountain. Primary performance characteristics and some specialized design features of the equipment are explained and summarized in the individual subsections of this document. There are no quality assurance requirements or QA controls in this document. Retrieval under normal conditions is accomplished with the same fleet of equipment as is used for emplacement. Descriptions of equipment used for retrieval under normal conditions is found in Emplacement Equipment Descriptions, DI: BCAF00000-01717-5705-00002 (a document in progress). Equipment used for retrieval under abnormal conditions is addressed in this document and consists of the following: (1) Inclined Plane Hauler; (2) Bottom Lift Transporter; (3) Load Haul Dump (LHD) Loader; (4) Heavy Duty Forklift for Emplacement Drifts; (5) Covered Shuttle Car; (6) Multipurpose Vehicle; and (7) Scaler

  9. Performance Measurement of Mining Equipments by Utilizing OEE

    Directory of Open Access Journals (Sweden)

    Sermin Elevli

    2010-10-01

    Full Text Available Over the past century, open pit mines have steadily increased their production rate by using larger equipments which requireintensive capital investment. Low commodity prices have forced companies to decrease their unit cost by improving productivity. Oneway to improve productivity is to utilize equipment as effectively as possible. Therefore, the accurate estimation of equipmenteffectiveness is very important so that it can be increased. Overall Equipment Effectiveness (OEE is a well-known measurementmethod, which combines availability, performance and quality, for the evaluation of equipment effectiveness in manufacturing industry.However, there isn’t any study in literature about how to use this metric for mining equipments such as shovel, truck, drilling machineetc. This paper will discuss the application of OEE to measure effectiveness of mining equipment. It identifies causes of time losses forshovel and truck operations and introduces procedure to record time losses. The procedure to estimate OEE of shovels and trucks hasalso been presented via numerical example.

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

    Science.gov (United States)

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

    2015-12-01

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

  11. Design of variable energy and price components of electricity tariffs as an incentive for system-efficient energy management of flexible consumers in households; Design variabler Energie- und Leistungspreiskomponenten von Stromtarifen als Anreiz fuer ein systemdienliches Energiemanagement flexibler Verbraucher in Haushalten

    Energy Technology Data Exchange (ETDEWEB)

    Schreiber, Michael

    2017-11-01

    To mitigate anthropogenic climate change, both the heating and transport sectors will need to be electrically driven, with the higher electrical demand met by emission-free technologies, in addition to general efficiency improvements. On the generation side, wind and photovoltaic power plants must have a rated power significantly exceeding the current peak demand, in order to cover this increased electrical requirement. On the consumption side, heat pumps and private electric vehicles will increase the percentage of energy withdrawn at the low-voltage level of the new system. Given the right incentives, these customers will shift the energy demand in such a way as to benefit the system. This flexibility can be used as a tool to deal with variable renewable insertion while avoiding simultaneous overloading of the power grid. This thesis analyses and evaluates the effects of different electricity tariff designs on energy consumption. These tariffs should incentivise households to adapt their energy consumption to market prices, without inducing critical peak demands in times of particularly low prices. Therefore, time-varying energy price components and power price components are combined into flexible electricity tariffs and implemented as target functions within an optimization problem. The cost-minimizing effect of household energy management is determined under these flexible tariffs, and the effects of the tariff designs on energy consumption and the induced costs are evaluated. Additionally, the results of the flexible tariff approach are compared with results from a centralized optimization by a virtual power plant. It is possible to develop a design for a suitable flexible tariff that decreases the energy procurement costs of electric vehicles while simultaneously reducing peak demand in comparison to a single real-time pricing incentive. Furthermore, this thesis shows that certain kinds of electricity tariff design do not only fail to support but actually

  12. Medical equipment management

    CERN Document Server

    Willson, Keith; Tabakov, Slavik

    2013-01-01

    Know What to Expect When Managing Medical Equipment and Healthcare Technology in Your Organization As medical technology in clinical care becomes more complex, clinical professionals and support staff must know how to keep patients safe and equipment working in the clinical environment. Accessible to all healthcare professionals and managers, Medical Equipment Management presents an integrated approach to managing medical equipment in healthcare organizations. The book explains the underlying principles and requirements and raises awareness of what needs to be done and what questions to ask. I

  13. Data communication equipment

    International Nuclear Information System (INIS)

    Kim, Hak Seon; Lee, Sang Mok

    1998-02-01

    The contents of this book are introduction of data communication on definition, purpose and history, information terminal about data communication system and data transmission system, data transmit equipment of summary, transmission cable, data port, concentrator and front-end processor, audio communication equipment like phones, radio communication equipment of summary on foundation of electromagnetic waves, AM transmitter, AM receiver, FM receiver and FM transmitter, a satellite and mobile communication equipment such as earth station, TT and C and Cellular phone, video telephone and new media apparatus.

  14. 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...

  15. 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)

  16. Energy prices and the promotion of energy conservation. A background study for energy conservation programme

    International Nuclear Information System (INIS)

    1994-01-01

    The prices of fuels in the international markets affect the development of consumer prices of energy in Finland. In the near future no factors can be foreseen, which would cause major increases in the prices of oil, coal or gas. It can thus not be expected that increased fuel prices would motivate more efficient energy conservation. In international comparison, consumer prices of energy have been relatively low in Finland. This applies especially to electricity. After the removal of price controls, energy prices have been determined by the markets. The influence of the public authorities in energy pricing is put into effect through taxation. The price of energy has a fairly small effect on energy consumption in a short term, but longer term effects are more significant. Energy products are faxed in all western countries. (orig.)

  17. 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.

  18. 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.

  19. 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

  20. 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)

  1. 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.)

  2. 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

  3. 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...

  4. 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

  5. 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.

  6. 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…

  7. 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

  8. Transfer Pricing Principles

    DEFF Research Database (Denmark)

    Jensen, Dennis Ramsdahl

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

  9. 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.

  10. 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...

  11. Prices, technology development and the rebound effect

    International Nuclear Information System (INIS)

    Birol, F.; Keppler, J.H.

    2000-01-01

    Energy efficiency is the critical parameter for policies that aim at reducing energy consumption while maintaining or even boosting economic growth. The two main options to influence energy efficiency are changes in relative prices, i.e., raising the price of energy through economic instruments, or to introduce new technologies which increase the productivity of each unit of energy. This paper is based on the notion that in an equilibrium economy the marginal economic productivity is identical for all factors, i.e., energy, labour, knowledge and capital. From this premise two main conclusions can be drawn. First, any change in price or technology will have an impact on the whole economy by creating feedbacks through the substitution of factors of production and goods, as well as increased wealth. Second, the two policy approaches, changing relative prices and technology development, are not opposite to each other. They are the two faces of the same reality and should be developed and promoted simultaneous and consistently. (Author)

  12. A JOINT EXPERIMENTAL ANALYSIS OF INVESTOR BEHAVIOR IN IPO PRICING METHODS

    Directory of Open Access Journals (Sweden)

    Vinicio de Souza e Almeida

    2015-01-01

    Full Text Available This article jointly examines the differences of laboratory versions of the Dutch clock open auction, a sealed-bid auction to represent book building, and a two-stage sealed bid auction to proxy for the “competitive IPO”, a recent innovation used in a few European equity initial public offerings. We investigate pricing, seller allocation, and buyer welfare allocation efficiency and conclude that the book building emulation seems to be as price efficient as the Dutch auction, even after investor learning, whereas the competitive IPO is not price efficient, regardless of learning. The competitive IPO is the most seller allocative efficient method because it maximizes offer proceeds. The Dutch auction emerges as the most buyer welfare allocative efficient method. Underwriters are probably seeking pricing efficiency rather than seller or buyer welfare allocative efficiency and their discretionary pricing and allocation must be important since book building is prominent worldwide.

  13. 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.

  14. Optimal Lease Contract for Remanufactured Equipment

    Science.gov (United States)

    Iskandar, B. P.; Wangsaputra, R.; Pasaribu, U. S.; Husniah, H.

    2018-03-01

    In the last two decades, the business of lease products (or equipment) has grown significantly, and many companies acquire equipment through leasing. In this paper, we propose a new lease contract under which a product (or equipment) is leased for a period of time with maximum usage per period (e.g. 1 year). This lease contract has only a time limit but no usage limit. If the total usage per period exceeds the maximum usage allowed in the contract, then the customer (as a lessee) will be charged an additional cost. In general, the lessor (OEM) provides a full coverage of maintenance, which includes PM and CM under the lease contract. It is considered that the lessor offers the lease contract for a remanufactured product. We presume that the price of the lease contract for the remanufactured product is much lower than that of a new one, and hence it would be a more attractive option to the customer. The decision problem for the lessee is to select the best option offered that fits to its requirement, and the decision problem for the lessor is find the optimal maintenance efforts for a given price of the lease option offered. We first find the optimal decisions independently for each party, and then the joint optimal decisions for both parties.

  15. 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.

  16. 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)

  17. The cost of domestic energy prices to Saudi Arabia

    International Nuclear Information System (INIS)

    Alyousef, Yousef; Stevens, Paul

    2011-01-01

    The issue of subsidies on domestic energy prices has moved up the policy agenda, most recently as a result of the G20 commitment in September 2009 to phase out such subsidies. However, what constitutes a 'subsidy' is complex and controversial. The IEA in its last World Energy Outlook claimed that Saudi Arabia was second in the world in terms of its levels of subsidy on domestic energy prices. However, because Saudi Arabia is a price maker in the international oil market, the methodology used by the IEA is seriously flawed. This paper explains the problems with the methodology for computing subsidies and explains the correct method in the case of Saudi Arabia. It then attempts to measure the levels of subsidy in Saudi Arabia using this methodology. However, while it converts the IEA's 'subsidy' of $23 billion into a net 'profit' of $5.7 billion, it goes on to point out that the current low price regime is causing problems for Saudi Arabia. - Highlights: → How to define energy subsidies in the context of Saudi Arabia as the price maker for international oil prices? → How far do the low domestic energy price in Saudi Arabia represent subsidized prices? → What are the costs and benefits of low/subsidized domestic energy prices in Saudi Arabia? → What policy options are available to offset the very poor record of energy efficiency in Saudi Arabia?

  18. Water desalination price from recent performances: Modelling, simulation and analysis

    International Nuclear Information System (INIS)

    Metaiche, M.; Kettab, A.

    2005-01-01

    The subject of the present article is the technical simulation of seawater desalination, by a one stage reverse osmosis system, the objectives of which are the recent valuation of cost price through the use of new membrane and permeator performances, the use of new means of simulation and modelling of desalination parameters, and show the main parameters influencing the cost price. We have taken as the simulation example the Seawater Desalting centre of Djannet (Boumerdes, Algeria). The present performances allow water desalting at a price of 0.5 $/m 3 , which is an interesting and promising price, corresponding with the very acceptable water product quality, in the order of 269 ppm. It is important to run the desalting systems by reverse osmosis under high pressure, resulting in further decrease of the desalting cost and the production of good quality water. Aberration in choice of functioning conditions produces high prices and unacceptable quality. However there exists the possibility of decreasing the price by decreasing the requirement on the product quality. The seawater temperature has an effect on the cost price and quality. The installation of big desalting centres, contributes to the decrease in prices. A very important, long and tedious calculation is effected, which is impossible to conduct without programming and informatics tools. The use of the simulation model has been much efficient in the design of desalination centres that can perform at very improved prices. (author)

  19. 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....

  20. 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.