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

International Nuclear Information System (INIS)

Ewing, Bradley T.; Thompson, Mark A.

2007-01-01

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

Optimal Price Skimming by a Monopolist Facing Rational Consumers

OpenAIRE

David Besanko; Wayne L. Winston

1990-01-01

This paper considers the intertemporal pricing problem for a monopolist marketing a new product. The key feature differentiating this paper from the extant management science literature on intertemporal pricing is the assumption that consumers are intertemporal utility maximizers. A subgame perfect Nash equilibrium pricing policy is characterized and shown to involve intertemporal price discrimination. We compare this policy to the optimal policy for a monopolist facing myopic consumers and f...

Price promotions and products with low consumer ratings

OpenAIRE

Kuo, H. C.; Kuo, H. C.; Nakhata, C.; Nakhata, C.

2016-01-01

Previous research indicates the aversive effect of low consumer ratings on consumers’ purchasing decisions. This paper aims to apply decision justifiability theory to investigate how price promotions – price discount and price bundling – can reduce this effect. 517-527.

Advertising Expenditure and Consumer Prices

OpenAIRE

Ferdinand Rauch

2011-01-01

This paper studies the effect of a change in the marginal costs of advertising on advertising expenditures of firms and consumer prices across industries. It makes use of a unique policy change that caused a decrease of the taxation on advertising expenditures in parts of Austria and a simultaneous increase in other parts. Advertising expenditures move immediately in the opposite direction to the marginal costs of advertising. Simultaneously the price reaction to advertising is negative in so...

Variances in consumers prices of selected food items among ...

African Journals Online (AJOL)

... had insignificant differences in their consumer prices while beans consumer prices had significant differences between Okurikang market and the other two markets. The results imply perfect information flow in garri and rice markets and hence high possibility of a perfectly competitive market structure for these products.

Variances in consumers prices of selected food Items among ...

African Journals Online (AJOL)

The study focused on the determination of variances among consumer prices of rice (local white), beans (white) and garri (yellow) in Watts, Okurikang and 8 Miles markets in southern zone of Cross River State. Completely randomized design was used to test the research hypothesis. Comparing the consumer prices of rice, ...

Impact of Heterogeneous Consumers on Pricing Decisions under Dual-Channel Competition

Directory of Open Access Journals (Sweden)

Ying Wei

2015-01-01

Full Text Available This paper studies impact of heterogeneous consumer behavior on optimal pricing decisions under dual channel supply chain competition, which consists of one manufacturer and one retailer. The manufacturer is market leader with two sales channels: one is direct channel facing consumers directly and the other is indirect channel facing the retailer. Consumers decide whether to buy and from which channel to buy products. Purchasing decisions are based on considerations of prices posted on different channels, preference or loyalty to specific channels, and degree of rationality in decision-making process. Due to the complexity of heterogeneous consumer decision behavior, traditional mathematical analysis to the pricing problem becomes quite challenging. An agent-based modeling and simulation approach is then proposed and implemented. Simulation results reveal that consumer behavior influences both prices and profits. When consumers are increasingly loyal to the retailing channel, the retailer can make a higher selling price and more benefits. On the other hand, when consumers are increasingly loyal to the direct channel, the number of purchases from the direct channel increases and the manufacturer is better off. It is also interesting to note that as rationality level increases, selling prices for both channels slightly decrease.

Do consumers really know if the price is right ? Direct measures of references price are their implications for retailing

OpenAIRE

VANHUELE, Marc; DREZE, Xavier

2000-01-01

Reference price research suggest that consumers memorize and recall price information when selecting brands for frequently purchased products. In this study, we show that previous price-knowledge surveys provided imperfect estimates of reference price. Further, we propose to use a combination of price recall, price recognition, and deal recognition to measure representations to memorize prices. In addition we identify consumer and product characteristics that explain the variations in price k...

Minimum Price Guarantees In a Consumer Search Model

NARCIS (Netherlands)

M.C.W. Janssen (Maarten); A. Parakhonyak (Alexei)

2009-01-01

textabstractThis paper is the first to examine the effect of minimum price guarantees in a sequential search model. Minimum price guarantees are not advertised and only known to consumers when they come to the shop. We show that in such an environment, minimum price guarantees increase the value of

The Dynamic Pricing of Next Generation Consumer Durables

OpenAIRE

Barry L. Bayus

1992-01-01

Learning curve effects, aspects of consumer demand models (e.g., reservation price distributions, intertemporal utility maximizing behavior), and competitive activity are reasons which have been offered to explain why prices of new durables decline over time. This paper presents an alternative rationale based on the buying behavior for products with overlapping replacement cycles (i.e., next generation products). A model for consumer sales of a new durable is developed by incorporating the re...

Utility Green Pricing Programs: Design, Implementation, and Consumer Response

Energy Technology Data Exchange (ETDEWEB)

Bird, L.; Swezey, B.; Aabakken, J.

2004-02-01

The term green pricing refers to programs offered by utilities in traditionally regulated electricity markets, which allow customers to support the development of renewable energy sources by paying a small premium on their electric bills. Since the introduction of the concept in the United States, the number of unique utility green pricing programs has expanded from just a few programs in 1993 to more than 90 in 2002. About 10% of U.S. utilities offered a green pricing option to about 26 million consumers by the end of 2002. This report provides: (1) aggregate industry data on consumer response to utility programs, which indicate the collective impact of green pricing on renewable energy development nationally; and (2) market data that can be used by utilities as a benchmark for gauging the relative success of their green pricing programs. Specifically, the paper presents current data and trends in consumer response to green pricing, as measured by renewable energy sales, participants, participation rates, and new renewable energy capacity supported. It presents data on various aspects of program design and implementation, such as product pricing, ownership of supplies, retention rates, marketing costs, the effectiveness of marketing techniques, and methods of enrolling and providing value to customers.

In-Store Experimental Approach to Pricing and Consumer Behavior

Science.gov (United States)

Sigurdsson, Valdimar; Foxall, Gordon; Saevarsson, Hugi

2010-01-01

This study assessed how, and to what extent, it is possible to use behavioral experimentation and relative sales analysis to study the effects of price on consumers' brand choices in the store environment. An in-store experiment was performed in four stores to investigate the effects of different prices of a target brand on consumers' relative…

Fairness through Transparency: The Influence of Price Transparency on Consumer Perceptions of Price Fairness

OpenAIRE

Sandra Rothenberger

2015-01-01

This study proposes that price transparency is a significant factor affecting customer judgments of the fairness of sellers’ prices. Cognitive judgments of fairness require a certain amount of information processing; therefore, the level of transparency and the amount of price information affect fairness judgments. The more clear information consumers possess concerning seller prices, the more positive the judgment will be. Customer price fairness judgment is an effective measurement for the ...

Research Note Consumer Addressability and Customized Pricing

OpenAIRE

Yuxin Chen; Ganesh Iyer

2002-01-01

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

Price signals and end consumer flexibility in shortage situations

International Nuclear Information System (INIS)

Hunnes, Arngrim; Grande, Ove S.

2002-08-01

This report is written as a part of the project ''Consumer flexibility and efficient use of ICT''. The project aim is 1) to provide a decision basis and suggest external conditions for a priority guided development of an infrastructure based on future ICT solutions and 2) develop, test and evaluate various measures which stimulate flexibility in consumption with consideration to power price, network rent and new market solutions. The central question in the report is how to stimulate the end consumer to be flexible in the consumption of electric power. The use of power price and system rent is desired tools for communicating the right price signals to the end consumers and thereby give the end users an incentive. The focus is primarily on the short term flexibility. The first chapter in the report gives an introduction to the price signals and the two way communication. There is a clear distinction between price signals from power suppliers and price signals from network companies. The two following chapters contain a more thorough discussion. As to the price signals from the power suppliers it is pointed out that most of the existing power contracts have a design so that they in the short term do not give the right price signals to the end users. It is proposed that two new contract types are tested: 1) Spot price and time settling. 2) Contract for reduced power price in a certain period provided the consumer is willing to reduce the load when 1) the spot price exceeds a level given by the end user, 2) the present load exceeds the subscribed level. In the chapter about the price signals from network companies there is first a brief introduction to the natural monopoly and the demands of the authorities to network tariffs. There is also a survey of the size of the system tariffs in the various counties. The central section of the chapter contains suggestions for designing network tariffs. Based on the deductions it is proposed that the project will test the

Consumer protection issues in energy: a guide for attorneys general. Insulation, solar, automobile device, home devices

Energy Technology Data Exchange (ETDEWEB)

Cohen, Harry I.; Hulse, William S.; Jones, Robert R.; Langer, Robert M.; Petrucelli, Paul J.; Schroeder, Robert J.

1979-11-01

The guide attempts to bring together two important and current issues: energy and consumer protection. Perhaps the most basic consumer-protection issue in the energy area is assuring adequate supplies at adequate prices. It is anticipated, though, that consumers will want to consider new ways to lower enegy consumption and cost, and will thus be susceptible to fraudulent energy claims. Information is prepared on insulation, solar, energy-saving devices for the home, and energy-saving devices for the automobile.

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

Science.gov (United States)

Brown, Timothy T; Robinson, James C

2016-06-01

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

An Empirical Analysis of Latitude of Price Acceptance in Consumer Package Goods.

OpenAIRE

Kalyanaram, Gurumurthy; Little, John D C

1994-01-01

Scanner panel data analyses for sweetened and unsweetened drink categories (with four brands in each) support the presence of a region of price insensitivity around a reference price. The analyses also suggest that consumers with higher average reference price have a wider latitude of price acceptance. Consumers with a higher frequency of purchase (i.e., shorter average interpurchase time interval) are found to have a narrower latitude of price acceptance, because they are more aware of the r...

Dynamic pricing of network goods with boundedly rational consumers.

Science.gov (United States)

Radner, Roy; Radunskaya, Ami; Sundararajan, Arun

2014-01-07

We present a model of dynamic monopoly pricing for a good that displays network effects. In contrast with the standard notion of a rational-expectations equilibrium, we model consumers as boundedly rational and unable either to pay immediate attention to each price change or to make accurate forecasts of the adoption of the network good. Our analysis shows that the seller's optimal price trajectory has the following structure: The price is low when the user base is below a target level, is high when the user base is above the target, and is set to keep the user base stationary once the target level has been attained. We show that this pricing policy is robust to a number of extensions, which include the product's user base evolving over time and consumers basing their choices on a mixture of a myopic and a "stubborn" expectation of adoption. Our results differ significantly from those that would be predicted by a model based on rational-expectations equilibrium and are more consistent with the pricing of network goods observed in practice.

variances in consumers prices of selected food items among ...

African Journals Online (AJOL)

Admin

the consumer prices of rice, beans and garri in the three markets; rice and garri had insignificant differences in ... and inappropriate response by farmers to price ... supply or demand side or both). .... road network, storage facilities, subsidized.

Consumer influence on retail prices of rice in Imo state of Nigeria ...

African Journals Online (AJOL)

Consumer influence on retail prices of rice in Imo state of Nigeria. ... Nigeria Agricultural Journal ... The study aimed at estimating consumers bargaining power and its effect on price flexibility of rice in the area. ... to retailers by educating consumers on technicality involved in marketing. ... AJOL African Journals Online.

Can regulatory agencies protect consumers. Stigler-Cohen debate revisited

Energy Technology Data Exchange (ETDEWEB)

Feingold, A.

1983-01-01

Stigler-Cohen debate, organized by the American Enterprise Institute, took place twelve years ago. Since then, the movement now known as consumerism has rapidly grown and its impact on public opinion and on political decision makers is of greatest importance to business - it cannot be simply wished away, it must be dealt with rationally and effectively. The paper recognizes the changed reality of the marketplace resulting in growing consumer impotence and a very real need for protection going beyond the general rules governing commercial transactions. At the same time, the author points out that regulation is not costless, that the cure is often worse than the disease. Public policy must be assessed in the light of its overall effects, it must not be based simply on a response to a single-minded call for redress however loudly articulated. There is a great inconsistency in piecemeal attempts at protecting the consumer from himself, while government-supplied goods and services, and government-controlled monopoly pricing afford little consumer protection. Finally, the paper reminds us that freedom itself is our most valuable possession and must not be thoughtlessly traded for perceived temporary advantages.

Analysis of Consumers' Preferences and Price Sensitivity to Native Chickens.

Science.gov (United States)

Lee, Min-A; Jung, Yoojin; Jo, Cheorun; Park, Ji-Young; Nam, Ki-Chang

2017-01-01

This study analyzed consumers' preferences and price sensitivity to native chickens. A survey was conducted from Jan 6 to 17, 2014, and data were collected from consumers (n=500) living in Korea. Statistical analyses evaluated the consumption patterns of native chickens, preference marketing for native chicken breeds which will be newly developed, and price sensitivity measurement (PSM). Of the subjects who preferred broilers, 24.3% do not purchase native chickens because of the dryness and tough texture, while those who preferred native chickens liked their chewy texture (38.2%). Of the total subjects, 38.2% preferred fried native chickens (38.2%) for processed food, 38.4% preferred direct sales for native chicken distribution, 51.0% preferred native chickens to be slaughtered in specialty stores, and 32.4% wanted easy access to native chickens. Additionally, the price stress range (PSR) was 50 won and the point of marginal cheapness (PMC) and point of marginal expensiveness (PME) were 6,980 won and 12,300 won, respectively. Evaluation of the segmentation market revealed that consumers who prefer broiler to native chicken breeds were more sensitive to the chicken price. To accelerate the consumption of newly developed native chicken meat, it is necessary to develop a texture that each consumer needs, to increase the accessibility of native chickens, and to have diverse menus and recipes as well as reasonable pricing for native chickens.

Consumer rights and protections

Science.gov (United States)

... care consumer rights; Rights of the health care consumer ... RIGHTS AND PROTECTIONS Here are ways that the health care law protects consumers. You must be covered, even if you have a pre-existing condition. No insurance plan can reject you, ...

Social Security cost-of-living adjustments and the Consumer Price Index.

Science.gov (United States)

Burdick, Clark; Fisher, Lynn

2007-01-01

OASDI benefits are indexed for inflation to protect beneficiaries from the loss of purchasing power implied by inflation. In the absence of such indexing, the purchasing power of Social Security benefits would be eroded as rising prices raise the cost of living. By statute, cost-of-living adjustments (COLAs) for Social Security benefits are calculated using the Bureau of Labor Statistics (BLS) Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Some argue that this index does not accurately reflect the inflation experienced by the elderly population and should be changed to an elderly-specific price index such as the Experimental Consumer Price Index for Americans 62 Years of Age and Older, often referred to as the Consumer Price Index for the Elderly (CPI-E). Others argue that the measure of inflation underlying the COLA is technically biased, causing it to overestimate changes in the cost of living. This argument implies that current COLAs tend to increase, rather than merely maintain, the purchasing power of benefits over time. Potential bias in the CPI as a cost-of-living index arises from a number of sources, including incomplete accounting for the ability of consumers to substitute goods or change purchasing outlets in response to relative price changes. The BLS has constructed a new index called the Chained Consumer Price Index for All Urban Consumers (C-CPI-U) that better accounts for those consumer adjustments. Price indexes are not true cost-of-living indexes, but approximations of cost-of-living indexes (COLI). The Bureau of Labor Statistics (2006a) explains the difference between the two: As it pertains to the CPI, the COLI for the current month is based on the answer to the following question: "What is the cost, at this month ' market prices, of achieving the standard of living actually attained in the base period?" This cost is a hypothetical expenditure-the lowest expenditure level necessary at this month's prices to achieve the

Consumer Issues and Consumer Protection in Asia.

Science.gov (United States)

Widdows, Richard; And Others

1995-01-01

Looks at themes of consumer interests in Asia and comments on the directions consumer policy is taking in that region. Outlines issues facing the region's consumers, describes evolving consumer protection mechanisms, and presents a model for promoting consumer interests in the region. (JOW)

Strategic pricing, consumer search and the number of firms

NARCIS (Netherlands)

Janssen, Maarten C W; Moraga-González, José Luis

2004-01-01

We examine an oligopoly model where some consumers engage in costly non-sequential search to discover prices. There are three distinct price-dispersed equilibria characterized by low, moderate and high search intensity. The effects of an increase in the number of firms on search behaviour, expected

[Legal development of consumer protection from the Federal Office of Consumer Protection and Food Safety standpoint].

Science.gov (United States)

Püster, M

2010-06-01

Ten years after publication of the White Paper on Food Safety, health consumer protection has made significant progress and, today, is a key field in politics at both the European and German levels. In addition to the protection of health and security of consumers, consumer information has become a core element of consumer protection for the Federal Office of Consumer Protection and Food Safety (Bundesamt für Verbraucherschutz and Lebensmittelsicherheit, BVL). State authorities are provided with new means of communication and interaction with consumers.

An Empirical Investigation of Consumer Price Perception and Reputation Dimensions’ Effects on Attitude Toward Private Label Brands

OpenAIRE

Chen, Haidong; Sadeque, Saalem

2007-01-01

The study empirically investigated the effects of consumer price perception dimension and reputation dimension on attitude toward private label brands among young Swedish consumers. Consumer price perception dimension includes value consciousness, price consciousness, and price-quality association factors. Reputation dimension includes retailer’s reputation, existence of word-of-mouth (WOM), positive WOM, and negative WOM. Previous studies have found that factors under the consumer price perc...

Consumer price sensitivity in Dutch health insurance

NARCIS (Netherlands)

M. van Dijk (Machiel); M. Pomp (Marc); R.C.H.M. Douven (Rudy); T. Laske-Aldershof (Trea); F.T. Schut (Erik); W. de Boer (Willem); A. Boo (Anne)

2008-01-01

textabstractAim: To estimate the price sensitivity of consumer choice of health insurance firm. Method: Using paneldata of the flows of insured betweenpairs of Dutch sickness funds during the period 1993-2002, we estimate the sensitivity of these flows to differences in insurance premium. Results:

Joint Decisions on Production and Pricing with Strategic Consumers for Green Crowdfunding Products

Directory of Open Access Journals (Sweden)

Yuting Chen

2017-09-01

Full Text Available Green crowdfunding is developing as a novel and popular transaction method, which can largely improve the efficiency of raising initial funds and selling innovative green products or services. In this paper, we explore the creator’s joint decisions regarding green crowdfunding products of different quality levels that can sufficiently satisfy consumer preferences. Firstly, considering the characteristics of a green crowdfunding product, we present four pricing strategies when substitutes exist. Then we propose the optimal pricing strategies to maximize the total profit for the creator under different circumstances, facing strategic and myopic consumers. Finally, for the heterogeneity of consumer valuations, we compare the total profits of the four pricing strategies under different values of the substitution coefficient to obtain the optimal pricing and product strategies under the coexistence of strategic and myopic consumers. According to the result, we find that when the fraction of high-type consumers and the gap between high and low valuations is big, or when they are both small, traditional single pricing shows its benefit. However, when the green crowdfunding products are better than their substitute, a line of green products is more likely to be optimal.

Joint Decisions on Production and Pricing with Strategic Consumers for Green Crowdfunding Products

Science.gov (United States)

Chen, Yuting; Zhang, Rong

2017-01-01

Green crowdfunding is developing as a novel and popular transaction method, which can largely improve the efficiency of raising initial funds and selling innovative green products or services. In this paper, we explore the creator’s joint decisions regarding green crowdfunding products of different quality levels that can sufficiently satisfy consumer preferences. Firstly, considering the characteristics of a green crowdfunding product, we present four pricing strategies when substitutes exist. Then we propose the optimal pricing strategies to maximize the total profit for the creator under different circumstances, facing strategic and myopic consumers. Finally, for the heterogeneity of consumer valuations, we compare the total profits of the four pricing strategies under different values of the substitution coefficient to obtain the optimal pricing and product strategies under the coexistence of strategic and myopic consumers. According to the result, we find that when the fraction of high-type consumers and the gap between high and low valuations is big, or when they are both small, traditional single pricing shows its benefit. However, when the green crowdfunding products are better than their substitute, a line of green products is more likely to be optimal. PMID:28930198

Joint Decisions on Production and Pricing with Strategic Consumers for Green Crowdfunding Products.

Science.gov (United States)

Chen, Yuting; Zhang, Rong; Liu, Bin

2017-09-20

Green crowdfunding is developing as a novel and popular transaction method, which can largely improve the efficiency of raising initial funds and selling innovative green products or services. In this paper, we explore the creator's joint decisions regarding green crowdfunding products of different quality levels that can sufficiently satisfy consumer preferences. Firstly, considering the characteristics of a green crowdfunding product, we present four pricing strategies when substitutes exist. Then we propose the optimal pricing strategies to maximize the total profit for the creator under different circumstances, facing strategic and myopic consumers. Finally, for the heterogeneity of consumer valuations, we compare the total profits of the four pricing strategies under different values of the substitution coefficient to obtain the optimal pricing and product strategies under the coexistence of strategic and myopic consumers. According to the result, we find that when the fraction of high-type consumers and the gap between high and low valuations is big, or when they are both small, traditional single pricing shows its benefit. However, when the green crowdfunding products are better than their substitute, a line of green products is more likely to be optimal.

Biodiesel as a motor fuel price stabilization mechanism

International Nuclear Information System (INIS)

Serra, Teresa; Gil, José M.

2012-01-01

This article studies the capacity of biofuels to reduce motor fuel price fluctuations. For this purpose, we study dependence between crude oil and biodiesel blend prices in Spain. Copula models are used for this purpose. Results suggest that the practice of blending biodiesel with diesel can protect consumers against extreme crude oil price increases. - Highlights: ► We study the capacity of biofuels to reduce fuel price fluctuations. ► We focus on Spanish biodiesel market. ► Biodiesel and crude oil price dependence is studied using copula functions. ► Biodiesel can protect consumers against extreme crude oil price increases.

Dynamic Pricing Based on Strategic Consumers and Substitutes in a Duopoly Setting

Directory of Open Access Journals (Sweden)

Gongbing Bi

2014-01-01

Full Text Available Based on the rational strategic consumers, we construct a dynamic game to build a two-period dynamic pricing model for two brands of substitutes which are sold by duopoly. The solution concept of the dynamic game is Nash equilibrium. In our model, consumers have been clearly segmented into several consumption classes, according to their expected value of the products. The two competing firms enter a pricing game and finally reach the state of Nash equilibrium. In addition, decision-making process with only myopic consumers existing in the market is analyzed. To make the paper more practical and realistic, the condition, in which the myopic and strategic consumers both exist in the market, is also considered and studied. In order to help the readers understand better and make it intuitively more clearly, a numerical example is given to describe the influence of the main parameters to the optimal prices. The result indicates that, to maintain the firms’ respective optimal profits, the prices of the products should be adjusted appropriately with the changes of product differentiation coefficient.

Toward crustacean without chemicals: a descriptive analysis of consumer response using price comparisons.

Science.gov (United States)

Okpala, Charles Odilichukwu R; Bono, Gioacchino; Pipitone, Vito; Vitale, Sergio; Cannizzaro, Leonardo

2016-01-01

To date, there seems to be limited-to-zero emphasis about how consumers perceive crustacean products subject to either chemical and or non-chemical preservative treatments. In addition, studies that investigated price comparisons of crustacean products subject to either chemical or chemical-free preservative methods seem unreported. This study focused on providing some foundational knowledge about how consumers perceive traditionally harvested crustaceans that are either chemical-treated and or free of chemicals, incorporating price comparisons using a descriptive approach. The study design employed a questionnaire approach via interview using a computer-assisted telephone system and sampled 1,540 participants across five key locations in Italy. To actualize consumer sensitivity, 'price' was the focus given its crucial role as a consumption barrier. Prior to this, variables such as demographic characteristics of participants, frequency of purchasing, quality attributes/factors that limit the consumption of crustaceans were equally considered. By price comparisons, consumers are likely to favor chemical-free (modified atmosphere packaging) crustacean products amid a price increase of up to 15%. But, a further price increase such as by 25% could markedly damage consumers' feelings, which might lead to a considerable number opting out in favor of either chemical-treated or other seafood products. Comparing locations, the studied variables showed no statistical differences ( p >0.05). On the contrary, the response weightings fluctuated across the studied categories. Both response weightings and coefficient of variation helped reveal more about how responses deviated per variable categories. This study has revealed some foundational knowledge about how consumers perceive traditionally harvested crustaceans that were either chemical-treated or subject to chemical-free preservative up to price sensitivity using Italy as a reference case, which is applicable to other parts

Bidding price analysis for competitive generators and large consumers

International Nuclear Information System (INIS)

Ping Wei; Luonan Chen; Hsiao Dong Chiang

2005-01-01

We present a new method to analyze the bidding price of each participant (power suppliers and large consumers) in a pay-as-bid market. The bidding price will be decomposed into a variety of components corresponding to five factors, such as the incremental values of the subject bidder's generation on the system operational costs, on the income or payment of other bidders, and on the binding tradable constraints, and the first-order approximation of the subjective participant's bidding price. From an economic viewpoint, each component provides useful information for participants to design the strategic planning. The advantages of the method include that the decomposition is well defined without assumptions and that each decomposition term has its own economical and/or engineering meaning. The proposed method is numerically verified through computer simulations on a three-bus example system and a modified IEEE 30-bus power system with both generator and large consumer bidding. (author)

Consumer protection in European Union

OpenAIRE

Bartlová, Daniela

2009-01-01

The consumer protection is a very actual topic in the european policy. It is necessary for the right function of the internal market. The document mentions the development of the consumer protection policy - the past and the future strategy. The valid legislation is listed and also mentioned is the Proposal for a Directive on Consumer Rights. It gives an overview of european consumer organisations and their function . There are also mentioned some alternatives of the consumer's redress. Docum...

"The Consumer Price Index As a Measure of Inflation"

OpenAIRE

Dimitri B. Papadimitriou; L. Randall Wray

1996-01-01

As inflation approaches zero, it becomes increasingly important to examine the price indices on which monetary policy is based. The most popularly used aggregate price statistic in the U.S. is the Consumer Price Index (CPI), a statistic that appears to be a focal point in monetary policy deliberations. A problem associated with using the CPI, a fixed weight index of the cost-of-living, is that there are likely to be biases in the index as a measure of inflation. In this paper we use a simple ...

75 FR 13471 - Telephone Consumer Protection

Science.gov (United States)

2010-03-22

... Consumer Protection Act (TCPA) that would harmonize those rules with the Federal Trade Commission's (FTC's... Consumer Protection Act (TCPA) that would harmonize those rules with the Federal Trade Commission's (FTC's...] Telephone Consumer Protection AGENCY: Federal Communications Commission. ACTION: Proposed rule. SUMMARY: In...

Choisen problems of the consumer protection

OpenAIRE

HUML, Jan

2010-01-01

The main aim is to determine consumers' awareness of their rights in the area of consumer protection. Secondary targets are to explored the reason of ignorance of law, determine consumer satisfaction with consumer protection and design measures to improve the situation.

High prices on electric power now again?

International Nuclear Information System (INIS)

Doorman, Gerard

2003-01-01

Deregulation of the electric power market has yielded low prices for the consumers throughout the 1990s. Consumption has now increased considerably, but little new production has been added. This results in high prices in dry years, but to understand this one must understand price formation in the Nordic spot market. The high prices are a powerful signal to the consumers to reduce consumption, but they are also a signal to the producers to seize any opportunity to increase production. However, the construction of new dams etc. stirs up the environmentalists. Ordinary consumers may protect themselves against high prices by signing fixed-price contracts. For those who can tolerate price fluctuations, spot prices are a better alternative than the standard contract with variable price

The influence of price endings on consumer behavior: An application of the psychology of perception

OpenAIRE

Asamoah, Emmanuel Selase; Chovancová, Miloslava

2011-01-01

Price ending is an important pricing strategy that has been used by retailers over the years. The trend seems to be effective considering how consumers react especially to products with odd price endings. This review is aimed at providing an understanding of the psychological influences of price ending on buyers, using the theory of perception. It analysis theories and existing literature on the topic and brings out augmentative pricing strategies that retailers can adopt in consumer markets....

The influence of price endings on consumer behaviour: an application of the psychology of perception

OpenAIRE

Emmanuel Selase Asamoah; Miloslava Chovancová

2011-01-01

Price ending is an important pricing strategy that has been used by retailers over the years. The trend seems to be effective considering how consumers react especially to products with odd price endings. This review is aimed at providing an understanding of the psychological influences of price ending on buyers, using the theory of perception. It analysis theories and existing literature on the topic and brings out augmentative pricing strategies that retailers can adopt in consumer markets....

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.

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

Energy Technology Data Exchange (ETDEWEB)

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

2009-11-15

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

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

International Nuclear Information System (INIS)

Meyler, Aidan

2009-01-01

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

Effects of price manipulations on consumer behavior in sheltered workshop token economy.

Science.gov (United States)

Schroeder, S R; Barrera, F J

1976-09-01

The consumer behavior of institutionalized retarded clients in a sheltered workshop token economy were evaluated by changing prices in the workshop store. In the first experiment we found that clients displayed elasticity of demand in that raising the prices of frequently purchased goods reduced the frequency and amount spent on more expendable items. Results from the second experiment showed that this change in spending pattern was not due to the relative modal unit price of item classes. The regulation of demand for consumer goods is a potentially useful way to maintain economic balance and effectiveness of a token economy.

Pricing Policy in the Presence of Pro-environmental Consumers

International Nuclear Information System (INIS)

Salies, Evens

2010-02-01

In response to the climate change issue, many electric utilities introduce price schemes for inducing their customers to reduce electricity consumption. When a significant fraction of consumers find costly to save electricity, one would expect utilities to 'pay' them to use less electricity. This paper suggests a model that helps to understand why a typical electric utility may rather prefer to price discriminate against its pro-environmental customers, by increasing the price of electricity for these latter. This result holds even when the utility is charged for its greenhouse gas emissions. But in this case the price increase is sufficiently small so as to induce energy saving also from customers who have a positive cost of doing so. (author)

Consumer Protection for Educators.

Science.gov (United States)

Wallace, James M.

Educational changes are examined from the perspective of consumer protection--the direct consumers are the teachers being prepared; the indirect consumers are the students and the society that supports the schools. During the colonial and early national periods of American history, there was an absence of formal and separate teacher education.…

The inadequacy of consumer protection in the UAE: the need for reform

OpenAIRE

AlGhafri, Abdulla MA

2013-01-01

This thesis was submitted for the degree of Doctor of Philosophy and awarded by Brunel University. This thesis addresses the consumer protection regime in the United Arab Emirates (UAE) against damages posed by defective industrial products, unfair business practices and misleading advertising. Nowadays, unfair and deceptive practices such as the selling of defective or sub-standard goods, the charging of exorbitant prices, misrepresentation of the efficacy or usefulness of goods, and negl...

Toward crustacean without chemicals: a descriptive analysis of consumer response using price comparisons

Directory of Open Access Journals (Sweden)

Charles Odilichukwu R. Okpala

2016-10-01

Full Text Available Background: To date, there seems to be limited-to-zero emphasis about how consumers perceive crustacean products subject to either chemical and or non-chemical preservative treatments. In addition, studies that investigated price comparisons of crustacean products subject to either chemical or chemical-free preservative methods seem unreported. Objective: This study focused on providing some foundational knowledge about how consumers perceive traditionally harvested crustaceans that are either chemical-treated and or free of chemicals, incorporating price comparisons using a descriptive approach. Design: The study design employed a questionnaire approach via interview using a computer-assisted telephone system and sampled 1,540 participants across five key locations in Italy. To actualize consumer sensitivity, ‘price’ was the focus given its crucial role as a consumption barrier. Prior to this, variables such as demographic characteristics of participants, frequency of purchasing, quality attributes/factors that limit the consumption of crustaceans were equally considered. Results: By price comparisons, consumers are likely to favor chemical-free (modified atmosphere packaging crustacean products amid a price increase of up to 15%. But, a further price increase such as by 25% could markedly damage consumers’ feelings, which might lead to a considerable number opting out in favor of either chemical-treated or other seafood products. Comparing locations, the studied variables showed no statistical differences (p>0.05. On the contrary, the response weightings fluctuated across the studied categories. Both response weightings and coefficient of variation helped reveal more about how responses deviated per variable categories. Conclusions: This study has revealed some foundational knowledge about how consumers perceive traditionally harvested crustaceans that were either chemical-treated or subject to chemical-free preservative up to price

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

Science.gov (United States)

2010-08-13

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

FUNGIBILITY AND CONSUMER CHOICE: EVIDENCE FROM COMMODITY PRICE SHOCKS*

OpenAIRE

Hastings, Justine S.; Shapiro, Jesse M.

2013-01-01

We formulate a test of the fungibility of money based on parallel shifts in the prices of different quality grades of a commodity. We embed the test in a discrete-choice model of product quality choice and estimate the model using panel microdata on gasoline purchases. We find that when gasoline prices rise, consumers substitute to lower octane gasoline, to an extent that cannot be explained by income effects. Across a wide range of specifications, we consistently reject the null hypothesis t...

Consumer behaviour towards price-reduced suboptimal foods in the supermarket and the relation to food waste in households.

Science.gov (United States)

Aschemann-Witzel, Jessica; Jensen, Jacob Haagen; Jensen, Mette Hyldetoft; Kulikovskaja, Viktorija

2017-09-01

To combat food waste, supermarkets offer food items at a reduced price in-store when they are close to the expiration date or perceived as suboptimal. It is yet unknown, however, which considerations consumers engage in when deciding about the offer, and whether focusing particularly on the price during food purchase might be related to greater food waste at home. Knowledge about both the consumers' food purchase process for these price-reduced foods and the potential wastage of price-focused consumers can contribute to the assessment of whether or not offering suboptimal food at reduced prices in-store actually reduces food waste across the supply chain. We explore these questions in a mixed-method study including 16 qualitative accompanied shopping interviews and a quantitative online experimental survey with 848 consumers in Denmark. The interviews reveal that the consumers interviewed assess their ability to consume the price-reduced suboptimal food at home already while in the store. Consumers consider the relation between product-related factors of package unit, expiration date, and product quality, in interaction with household-related factors of freezing/storing, household size/demand, and possible meal/cooking. The survey shows that consumers who are more price-focused report lower food waste levels and lower tendency to choose the optimal food item first at home, than those who are not emphasizing the price-quality relation or do not search for price offers to the same extent. Higher age and high education also played a role, and the price-focus is lower in high-income groups and among single households. The findings allow deriving recommendations for retailers and policy makers to support both the marketability and the subsequent actual consumption of price-reduced suboptimal food, but they also raise questions for further research of this underexplored area. Copyright © 2017 Elsevier Ltd. All rights reserved.

PROBLEMS OF CONSUMER PROTECTION IN TOURISM

Directory of Open Access Journals (Sweden)

Gina Ionela Butnaru

2013-07-01

Full Text Available The actuality of the topic, its extent and importance, were strong arguments for writing this paper - Problems of consumer protection in tourism. To this, also the convergence of the fields that focus on the description of a image in deep of the topic is added, we are talking about economic, legal social features or features that belong to the specifics of tourism and of products and services consumed within it. The multiple dimensions of the approached topic transform it into an exciting topic which proves its usefulness when it is known since each individual can acquire the quality of a consumer, and his rights as a consumer are nothing else but the human rights of which every individual has to be aware. A process of education and information of the citizens regarding the rights they possess as consumers could reduce a part of the problems appearing in the process of consume of tourism products and services but it would contribute to the optimization of the protection of rights and interests of the consumers. In economic terms, democracy also implies ensuring the rights of the consumers and thus their protection, therefore the concept of protection of rights and interests of consumers exists.

Helping consumers manage their exposure to volatile natural gas prices

International Nuclear Information System (INIS)

Campion, A.

2004-01-01

This presentation provided a customer's view of forward gas prices and outlined different buying behaviours in terms of characteristics of novice and seasoned buyers. It presented a portfolio overview of natural gas and described the risks facing customers in terms of fixed prices and fixed volumes. An energy smart price plan considers floating gas prices instead of a fixed market price. An automobile manufacturer was presented as an example of a gas consumer that would prefer to manage internal costs of production rather than manage gas volatility. The importance of understanding the drivers of individual businesses was emphasized. Natural Resources Canada and the Office of Energy Efficiency offer financial incentives for manufacturers for energy retrofit feasibility studies that result in energy retrofit projects in lighting, heating, boiler replacement, chiller upgrades, and heat recovery. tabs., figs

Using Electroencephalogram (EEG to Understand The Effect of Price Perception on Consumer Preference

Directory of Open Access Journals (Sweden)

Fitri Aprilianty

2016-06-01

Full Text Available The research examines the influence of price as product cues on consumer’s perception and evaluation by using the application of electroencephalogram (EEG. This method can give objective information about consumer reactions towards product cues that will drive consumer’s choice. The main research objective was to observe and evaluate consumer’s brain activity in different brain regions while they were being exposed by several price levels (low, medium, high of underwear as stimuli and focused mainly on liking/disliking the stimuli. The participants consist of 10 female and 10 male consumers within 18-24 years old, have normal vision, right handed, and considered as potential purchasers of underwear. The participant’s brain activity was collected using Emotiv EPOC neuroheadset (EEG with international 10/20 system and was obtained in Beta frequency bands (13–30 Hz. The result indicated that there was a clear and significant change (p<0.05 in the EEG brain spectral activities of right and left hemisphere in the frontal (F3 & F4, temporal (T7 & T8, and parietal (P7 & P8 regions when participants indicated their attentiveness towards each price level stimulus. The results show, the male and female participant’s tactile sensations in parietal lobe does not give more favorable attention towards particular price stimulus, but the difference price perceptions in parietal lobe can lead to rational preference and give most favored response towards high price stimulus. Analyzing of price perception may help to understand the differences in price-related emotions and preference, which can gain insights into an alternative pricing strategy that can lead to influence consumers buying decision.

Protecting consumer interests in Alberta's deregulated electricity market

International Nuclear Information System (INIS)

Bradford, J.A.

2003-01-01

This paper explains why the province of Alberta decided to deregulate its electricity sector. In the early 1990s, electricity rates were reasonable in Alberta, there was no utility debt, and electricity costs were low. In 1994 California's open access transmission system suggested that open markets would result in lower electricity rates and attract new economic activity. The government of Alberta also believed that competitive markets would set prices with no need for economic regulation. In the initial transition to competition, regulated electricity rates were offered to customers who were not ready to switch to the new competitive market. The RRO rate was set by the Alberta Energy and Utilities Board (EUB). The rates included the forecasted cost of purchasing energy from markets, cost of system access, and retail service costs. The end of the RRO rate was scheduled for 2005 when the market was expected be well developed. This paper also describes other protection mechanisms for consumers. Alberta's new electricity policy (NEP) eliminates generator participant costs related to transmission. EUB's zonal interconnection charges are also overruled along with the EUB-approved 50/50 division of transmission costs. Under the NEP, the ISO is to build transmission in anticipation of new generation. Consumers will fund the total cost to build new transmission capacity for exports and imports. This new transmission policy is a complete change from the original government policy which allocated some transmission costs to generators. The sudden change in policy was due to pressure from oil sands producers and oil sands co-generation developers. The claimed benefit to Albertans is a 25 per cent reduction in pool price and greater system reliability. However, the author cautioned that government interference with competitive electricity markets will cripple the electric power industry in the foreseeable future because it interferes with market prices

Consumer protection in electronic commerce

Directory of Open Access Journals (Sweden)

Nicoleta Andreea NEACŞU

2016-07-01

Full Text Available Electronic commerce is one of the most important aspects of the Internet and allows people to buy instant. Fast and easy development of e-commerce has led to the necessity of consumer protection in cyberspace, where trade takes place, so as to ensure consumer safety and security matters. This article examines e-commerce in terms of consumer protection and data security, which concerns equally all stakeholders in the electronic market: buyers, sellers, banks, courier cargo and other participants.

Cooperative consumers in a deregulated electricity market - dynamic consumption strategies and price coordination

Energy Technology Data Exchange (ETDEWEB)

Haemaelaeinen, R.P.; Maentysaari, J. [Helsinki Univ. of Technology (Finland). Systems Analysis Lab.; Ruusunen, J. [Fortum Power and Heat Inc. (Finland); Pineau, P.O. [Helsinki Univ. of Technology (Finland). Systems Analysis Lab.; Ecole des Hautes Etudes Commerciales, Monteal , Quebec (Canada)

2000-09-01

As the trend in electricity markets is strongly towards deregulation, new players, new rules and new behaviors will continue to emerge. One of the new developments on the demand side is purchases made by a coalition of consumers. It seems indeed likely that in the future this will be more common, and that coalitions of consumers will emerge when they are worthwhile. The aim of this paper is to study how such an organization of consumers can be set up in a hierarchical framework. This new approach has not been described before in the deregulated electricity markets but is clearly an important research topic. We focus our interest on electric space heating, which is an energy need especially important in the Nordic countries such as Finland. We examine the consumption strategies of individual electricity buyers within a coalition. The decision problem all consumers face is to find the optimal use of their space heating system with respect to changes in electricity prices and to their tolerance to indoor temperature variation. A mathematical model for this problem is defined. Physical parameters of sample houses were gathered from an experimental field test conducted in Helsinki during the winter of 1996. The coalition buys in the market at marginal cost. However, as marginal cost pricing may not always fulfill metering and communication needs of the members of the coalition, we consider Time-Of-Use (TOU) pricing within the coalition. Different groups of consumer behavior are constructed to simulate this coalition. The optimal marginal price is used as a reference point to estimate the nearest TOU price within the coalition. (author)

Determining consumer purchase intentions: the importance of dry matter, size, and price of kiwifruit.

Science.gov (United States)

Jaeger, Sara R; Harker, Roger; Triggs, Chris M; Gunson, Anne; Campbell, Rachel L; Jackman, Richard; Requejo-Jackman, Cecilia

2011-04-01

Knowledge of the relative importance of food quality attributes in determining consumer purchase intention is critical for robust assessment of economic opportunities for industry growth. The aim of this study is to demonstrate how conjoint analysis methodology that incorporates tasting of fruit can be used to collect such information. Three hundred Japanese consumers took part in research designed to measure the importance of dry matter (DM), size, and price of kiwifruit (Actinidia deliciosa "Hayward" and Actinidia chinensis "Hort16A") for purchase intention. Measurement of consumer liking for kiwifruit of different DM content was a key first step. Liking increased as DM increased and was accompanied by increased purchase likelihood/choice probability for kiwifruit. The size of kiwifruit presented to consumers varied from "small" to "extra large." Consumers liked "mid-sized" kiwifruit over "small" or "extra-large" kiwifruit. Despite these differences in liking, size was of little importance in determining purchase likelihood/choice probability for kiwifruit. Price was a very important factor in determining purchase likelihood/choice probability but was less important than DM content. As price increased, purchase likelihood/choice probability decreased. Beneath these general findings, heterogeneity existed. Some consumers placed more/less importance on the focal purchase drivers than suggested by the aggregate model. Overall, the results suggest that incentive schemes already implemented by industry should consider rewarding high-DM fruit more than fruit size.   This research has contributed to the New Zealand kiwifruit industry gaining a better understanding of the relative importance consumers place on DM, size, and price of kiwifruit and has resulted in changes to grower incentive schemes. The research approach presented forces consumer to tradeoff attributes of kiwifruit against each other and decide on how important two key quality attributes-DM and

A Bayesian negotiation model for quality and price in a multi-consumer context

International Nuclear Information System (INIS)

Rufo, M.J.; Martín, J.; Pérez, C.J.

2016-01-01

Bayesian decision theory plays a significant role in a large number of applications that have as main aim decision making. At the same time, negotiation is a process of making joint decisions that has one of its main foundations in decision theory. In this context, an important issue involved in industrial and commercial applications is product reliability/quality demonstration. The goal is, among others, product commercialization with the best possible price. This paper provides a Bayesian sequential negotiation model in the context of sale of a product based on two characteristics: product price and reliability/quality testing. The model assumes several parties, a manufacturer and different consumers, who could be considered adversaries. In addition, a general setting for which the manufacturer offers a product batch to the consumers is taken. Both the manufacturer and the consumers have to use their prior beliefs as well as their preferences. Sometimes, the model will require to update the previous beliefs. This can be made through the corresponding posterior distribution. Anyway, the main aim is that at least one consumer accepts the product batch based on either product price or product price and reliability/quality. The general model is solved from the manufacturer viewpoint. Thus a general approach that allows us to calculate an optimal price and sample size for testing is provided. Finally, two applications show how the proposed technique can be applied in practice. - Highlights: • A general sequential Bayesian model of decision has been developed. • Product price and reliability/quality testing have been considered. • An original approach is implemented in order to obtain appropriate optimal values. • Distributions widely used in reliability and quality contexts have been taken.

Informing consumers: Protection from deceptive advertising

Directory of Open Access Journals (Sweden)

Stanković Ljiljana

2013-01-01

Full Text Available It is widely accepted that only informed consumers are protected from potential violation of their consumer rights. Advertising represents one of the main ways of informing consumers, so it is of crutial importance for it to include adequate information that can facilitate decision making proces regarding the purchase. With aim of preventing violation of basic consumer rights, advertising is regulated by legislation, both on EU level and on national level in Republic of Serbia, and while so special attention is dedicated to defining advertising that can possibly lead to deception of consumers. Authors of this paper are focused on analysing legislation and theoretical explanations of deceptive advertising. Results of the research regarding advertising in Serbia and ability of consumers to protect themselves from deceptive advertising are presented. The main aim of the authors is to contribute to increasing level of consumers' self-protection through increasing level of their counciousness on deceptive advertising and its concequences.

Consumer protection in energy law

International Nuclear Information System (INIS)

De Krom, H.; Van Leeuwen, E.T.W.M.; Schaap, A.R.

2009-01-01

This article provides an overview of the protection that energy consumers are entitled to in the framework of the energy law. First we provide an overview of the parties operating in the energy market that consumers deal with directly or indirectly. Next the supply permit is addressed, which provides an important safeguard for consumers against unreliable suppliers. In part 4 we address the protection of the consumer prior to and while closing an agreement. Part 5 addresses the supplier's obligations. Part 6 discusses the judicial processes that are available to the consumer in case of (partial) non-observance of the agreement. We also pay attention to the compensation schemes and emergency supply in case a supplier is permanently unable to fulfill his obligations. Finally, we address the termination of the agreement. [nl

Aggregate industrial energy consumer response to wholesale prices in the restructured Texas electricity market

International Nuclear Information System (INIS)

Zarnikau, Jay; Hallett, Ian

2008-01-01

The aggregate response of consumers to wholesale price signals is very limited in the restructured Electric Reliability Council of Texas (ERCOT) market. An overall average own-price elasticity of demand of - 0.000008 for industrial energy consumers served at transmission voltage is estimated using a Symmetric Generalized McFadden cost function model. To date, ERCOT has sought to promote demand response to price signals without reliance on 'stand alone' demand response programs, but with a market structure that is designed to facilitate economic demand response. This very limited responsiveness to wholesale price signals may prove problematic in light of policy decisions to pursue an 'energy only' resource adequacy mechanism for ERCOT. (author)

Issue Papers To Consumer Protection in Postsecondary Education.

Science.gov (United States)

1974

This document is intended to present background information on the basic consumer protection issues in postsecondary education. Topics discussed are: (1) recruitment practices of postsecondary schools; (2) the role of a state agency in consumer protection; (3) consumer rights, responsibilities and redress of consumer protection; (4) advertising…

Consumer Protection--Who Protects You? How Can You Protect Yourself? Proceed with Caution: Consumer Safety In the Home, I.

Science.gov (United States)

Saskatchewan Consumer and Commercial Affairs, Regina.

The enormous and rapidly-increasing number of goods on the market makes it difficult to ensure that all consumer products are safe to use. Public concern about product safety has caused the enactment of a wide range of consumer protection laws. The result of this legislation has been that many agencies have been established to protect the public.…

The influence of price endings on consumer behaviour: an application of the psychology of perception

Directory of Open Access Journals (Sweden)

Emmanuel Selase Asamoah

2011-01-01

Full Text Available Price ending is an important pricing strategy that has been used by retailers over the years. The trend seems to be effective considering how consumers react especially to products with odd price endings. This review is aimed at providing an understanding of the psychological influences of price ending on buyers, using the theory of perception. It analysis theories and existing literature on the topic and brings out augmentative pricing strategies that retailers can adopt in consumer markets. Also, an exploratory study was conducted to identify the prevalence of odd prices in the Czech retail sector. The exploratory study was based on 16 different home-drop advertising material, short magazines and leaflets by retails shops in the Zlin region. These leaflets, short magazines and home-drop advertising material were collected and analyzed over 3 month period to identify the dominance of odd and even pricing strategy (total number of advertisements = 922. Also, in order to have a comprehensive coverage of the odd-even pricing phenomenon, opinions of some buyers were sought on their perception of odd-pricing and how the odd-pricing influence their buying decisions. Opinions of a total of 173 shoppers were sampled. The study found clear evidence of the predominant use and preference by shoppers for odd prices compared to even prices in different product categories, especially fast moving consumer goods. The paper concludes by providing the marketing implications and suggestions on when odd and even price ending strategies should be used and for what category of products this strategy can be used. Also, the implications of price endings on marketing communication are highlighted.

Consumer preferences relative to the price and network capability of small urban vehicles

Energy Technology Data Exchange (ETDEWEB)

Burns, L.D.

1979-09-01

Preferences of consumers for small urban vehicle concepts differing only with respect to their hypothetical purchase prices and network capabilities (i.e., whether they are capable of operating on expressways, major arterials, or local streets) are analyzed using statistical techniques based on psychological scaling theories. Results from these analyses indicate that a vast majority of consumers are not readily willing to give up the accessibility provided by conventional automobiles. More specifically, over the range of hypothetical prices considered here, network capability dominates as a determinant of preferences for vehicle concepts. Also, the ability to operate vehicles on expressways is of utmost importance to consumers.

Spanish, French and British consumers' acceptability of Uruguayan beef, and consumers' beef choice associated with country of origin, finishing diet and meat price.

Science.gov (United States)

Realini, C E; Font i Furnols, M; Sañudo, C; Montossi, F; Oliver, M A; Guerrero, L

2013-09-01

The effect of country of origin (local, Switzerland, Argentina, Uruguay), finishing diet (grass, grass plus concentrate, concentrate), and price (low, medium, high) on consumer's beef choice and segmentation was evaluated in Spain, France and United Kingdom. Sensory acceptability of Uruguayan beef from different production systems was also evaluated and contrasted with consumers' beef choices. Origin was the most important characteristic for the choice of beef with preference for meat produced locally. The second most important factor was animal feed followed by price with preference for beef from grass-fed animals and lowest price. The least preferred product was beef from Uruguay, concentrate-fed animals and highest price. Sensory data showed higher acceptability scores for Uruguayan beef from grass-fed animals with or without concentrate supplementation than animals fed concentrate only. Consumer segments with distinct preferences were identified. Foreign country promotion seems to be fundamental for marketing beef in Europe, as well as the development of different marketing strategies to satisfy each consumer segment. Copyright © 2013 Elsevier Ltd. All rights reserved.

Profiling the high frequency wine consumer by price segmentation in the US market

Directory of Open Access Journals (Sweden)

Liz Thach

2015-06-01

Full Text Available Heavy users of consumer products are important to marketers as a profitable target segment. This is equally true in the wine industry, but with the added precaution of encouraging responsible consumption. This study examines the attributes and behaviors of 681 high frequency (heavy-user wine consumers in the US, based on a price segmentation of High, Moderate, and Low Spenders. For this study, price segmentation was defined as the price typically paid for a bottle of wine for home consumption. Significant differences were discovered based on gender, age, income, wine involvement, shopping channel, ecommerce/social media usage and other key areas. Implications for marketing managers as well as areas of future research are described.

Forecasting inflation based on the consumer price index, taking into account the impact of seasonal factors

Directory of Open Access Journals (Sweden)

A. K. Sapova

2017-01-01

Full Text Available The consumer price index is a key indicator of the inflation level in Russia. It is important for the Central Bank and Government in decision-making process. There is a strong need for high-quality analysis and accurate forecast of this index. Modelling and forecasting of consumer price index as a key indicator of inflation are relevant issues in current macroeconomic conditions. The article is dedicated to development of quality short-term forecast of consumer inflation level, with the impact of seasonal factor. Two classes of models (vector autoregression and time series models are considered. It was shown that vector autoregression model of the dependency between consumer price index and nominal effective exchange rate is worse for the proposes of inflation forecast then non-linear model with structural components and conventional heteroscedasticity. The practical significance of this work is that the developed approach to the forecasting of the consumer price index adjusted of seasonal factor can be very helpful for the purpose of proper assessment and regulation of inflation.

The role of internal reference prices in consumers' willingness to pay judgments: Thaler's Beer Pricing Task revisited.

Science.gov (United States)

Ranyard, R; Charlton, J P; Williamson, J

2001-02-01

Alternative reference prices, either displayed in the environment (external) or recalled from memory (internal) are known to influence consumer judgments and decisions. In one line of previous research, internal reference prices have been defined in terms of general price expectations. However, Thaler (Marketing Science 4 (1985) 199; Journal of Behavioral Decision Making 12 (1999) 183) defined them as fair prices expected from specific types of seller. Using a Beer Pricing Task, he found that seller context had a substantial effect on willingness to pay, and concluded that this was due to specific internal reference prices evoked by specific contexts. In a think aloud study using the same task (N = 48), we found only a marginal effect of seller context. In a second study using the Beer Pricing Task and seven analogous ones (N = 144), general internal reference prices were estimated by asking people what they normally paid for various commodities. Both general internal reference prices and seller context influenced willingness to pay, although the effect of the latter was again rather small. We conclude that general internal reference prices have a greater impact in these scenarios than specific ones, because of the lower cognitive load involved in their storage and retrieval.

16 CFR 0.17 - Bureau of Consumer Protection.

Science.gov (United States)

2010-01-01

... 16 Commercial Practices 1 2010-01-01 2010-01-01 false Bureau of Consumer Protection. 0.17 Section... ORGANIZATION § 0.17 Bureau of Consumer Protection. The Bureau investigates unfair or deceptive acts or..., and international agencies and organizations in consumer protection enforcement and regulatory matters...

Price reactions when consumers are concerned about pro-social reputation

DEFF Research Database (Denmark)

Kahsay, Goytom Abraha; Andersen, Laura Mørch; Hansen, Lars Gårn

In this paper, we propose a reputation-signalling model of demand for consumer goods containing pro-social characteristics such as a ‘fair trade’ or ‘organic’ certification. We show that reputation signalling can reverse price reactions resembling the crowding-out of pre-existing motives for pro-......-social behavior seen in situations of volunteering and charitable giving. Finally, using a unique combination of questionnaire and purchase panel data, we present evidence of such reputation-driven reversal of price reactions in the Danish market for organic milk....

[The price-based certainty of purchase influences consumer behavior for discount].

Science.gov (United States)

Arihara, Katsuhiko; Ariga, Atsunori; Furuya, Takeshi

2016-04-01

Tversky & Kahneman (1981) reported that most participants decided to drive when they could save money on a low-price good as compared to when they could save on a high-price good, even though the discount prices were same. Although this irrational decision making has been interpreted as a rate-dependent estimation of value (prospect theory), this study newly proposes that it can be explained by the certainty of purchase based on the price of goods. Experiment 1 replicated the previously reported difference in decision making, and additionally demonstrated that participants' certainty of purchase was lower for a high- than a low-price good. When it was emphasized that participants' intention to purchase high- and low-price goods were equally sure, decision making did not significantly differ (Experiment 2). Furthermore, decision making differed based only on the certainty of purchase even,when prices of goods were-same (Experiment 3). Consumers' decision making may be rather rational, depending straightforwardly on the certainty of purchase that is susceptible to price.

Demonstration Project. Consumer reactions to peak prices

International Nuclear Information System (INIS)

Lindskoug, Stefan

2006-06-01

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

Causality relation between the producer price index and the consumer price index. Ecuador Case

Directory of Open Access Journals (Sweden)

Víctor Quinde Rosales

2018-01-01

Full Text Available The present document is an investigation with a type of inductive reasoning. It evaluated the relationship of causality between the producer price index (IPP, and the consumer price index (IPC in a period from January 1998 to December 2016. The unit root test Dickey-Fuller Augmented (DFA was used under an empirical- analytic paradigm, an autoregressive vector-VAR model was generated and the Granger causality test was performed. The results show a positive trend and seasonality in the data of the variables, a VAR model of two variables was obtained with a number of optimal remnants of fourteen VAR2 (14 to which the causality test was performed, demonstrating a bi - directionality of both indices.

Willingness to Overpay for Insurance and for Consumer Credit: Search and Risk Behavior Under Price Dispersion

Directory of Open Access Journals (Sweden)

Sergey MALAKHOV

2014-11-01

Full Text Available When income growth under price dispersion reduces the time of search and raises prices of purchases, the increase in purchase price can be presented as the increase in the willingness to pay for insurance or the willingness to pay for consumer credit. The optimal consumer decision represents the trade-off between the propensity to search for beneficial insurance or consumer credit, and marginal savings on insurance policy or consumer credit. Under price dispersion the indirect utility function takes the form of cubic parabola, where the risk aversion behavior ends at the saddle point of the comprehensive insurance or the complete consumer credit. The comparative static analysis of the saddle point of the utility function discovers the ambiguity of the departure from risk-neutrality. This ambiguity can produce the ordinary risk seeking behavior as well as mathematical catastrophes of Veblen-effect’s imprudence and over prudence of family altruism. The comeback to risk aversion is also ambiguous and it results either in increasing or in decreasing relative risk aversion. The paper argues that the decreasing relative risk aversion comes to the optimum quantity of money.

How can big data enhance the timeliness of official statistics? The case of the US consumer price index

NARCIS (Netherlands)

Harchaoui, Tarek M.; Janssen, Robert V.

2018-01-01

The daily consumer price index (CPI) produced by the Billion Prices Project (BPP CPI) offers a glimpse of the direction taken by consumer price inflation in real time. This is in contrast to the official U.S. CPI, which is compiled monthly and released with an average of a three-week delay following

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

Science.gov (United States)

2010-01-06

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

A Bayesian Multi-Level Factor Analytic Model of Consumer Price Sensitivities across Categories

Science.gov (United States)

Duvvuri, Sri Devi; Gruca, Thomas S.

2010-01-01

Identifying price sensitive consumers is an important problem in marketing. We develop a Bayesian multi-level factor analytic model of the covariation among household-level price sensitivities across product categories that are substitutes. Based on a multivariate probit model of category incidence, this framework also allows the researcher to…

Beyond customer perception of price discrimination: A consumer behavior analysis and its implications on aviation revenue management

OpenAIRE

Kusch, Katharina

2016-01-01

The purpose of this paper is to assess consumer behavior in the airline industry from a perspective beyond the effects of price discrimination. First the consequences of dynamic pricing will be assessed before looking at the role of social media and offline social influences, consumer satisfaction and airline equilibrium networks and their effects on consumer loyalty. Final implications on aviation revenue management will be drawn.

Do the Scandinavian consumers pay a "fair" price for German white wines?

DEFF Research Database (Denmark)

Bentzen, Jan Børsen; Smith, Valdemar

The aim of this paper is to analyse the retail prices of German white wines sold in the Scandinavian countries. German white wines account for approximately 5-6 per cent of the total sale of wines - both red and white wines - in Denmark, Norway and Sweden. However, the market shares of German wines...... in Scandinavia have been declining for a number of years. Diminishing market shares may reflect changes in consumer tastes or simply 'wrong' prices, the latter related to both the level of wine prices (German wines being relatively expensive) and the structure of wine prices. In general, country-specific price...... differences for identical wines are expected to be a sign of differences in taxes, import prices, transportation costs as well as other costs - and also different competitive conditions at the retail level in the respective countries. Differences in wine prices across countries do not always reflect...

GREEN PRICES – A REFLECTION OF ENVIRONMETAL PROTECTION

Directory of Open Access Journals (Sweden)

Daniela SIMTION

2014-10-01

Full Text Available The price is generally a very important factor in taking the purchase decision; it will influence the acceptance or rejection of organic products. For those who believe market forces represent a path to sustainability, it is vital to include eco-costs in the product costs and, further, in their prices. Otherwise, consumption growth will result in a continuous degradation of ecosystems, taking into consideration that environmental costs are not reflected in the price. To what extent a company is considering the ecological policy will be reflected in its cost structure. Organic products, most of the times, will incur additional costs generated by preservation and improvement expenses for environmental. These expenses will be reflected in costs, the price will reflect the value of the main benefits required by the consumer.

Strategic trade between two regions with partial local consumer protection - General setup and nash equilibria

Science.gov (United States)

Iordanov, Iordan V.; Vassilev, Andrey A.

2017-12-01

We construct a model of the trade relations between two regions for the case when the trading entities (consumers) compete for a scarce good and there is an element of strategic interdependence in the trading process. Additionally, local consumers enjoy partial protection in the form of guaranteed access to a part of the locally-supplied quantity of the good. The model is formulated for the general asymmetric case, where the two regions differ in terms of parameters such as income, size of the local market supply, degree of protection and transportation costs. For this general model we establish the existence of Nash equilibria and obtain their form as a function of the model parameters, producing a typology of the equilibria. This is a required step in order to rigorously study various types of price dynamics for the model.

78 FR 71706 - Advisory Committee for Aviation Consumer Protection

Science.gov (United States)

2013-11-29

... Committee for Aviation Consumer Protection AGENCY: Office of the Secretary (OST), Department of... fifth meeting of the Advisory Committee for Aviation Consumer Protection. DATES: The fifth meeting of... Aviation Consumer Protection (ACACP) and announced those persons appointed as members. The committee's...

77 FR 43135 - Advisory Committee for Aviation Consumer Protection

Science.gov (United States)

2012-07-23

... Committee for Aviation Consumer Protection AGENCY: Office of the Secretary (OST), Department of... second meeting of the Advisory Committee for Aviation Consumer Protection. DATES: The second meeting of... Aviation Consumer Protection and announced those persons appointed as members. By notice dated June 13...

77 FR 53961 - Advisory Committee for Aviation Consumer Protection

Science.gov (United States)

2012-09-04

... Committee for Aviation Consumer Protection AGENCY: Office of the Secretary (OST), Department of... third meeting of the Advisory Committee for Aviation Consumer Protection. DATES: The third meeting of...)), established the Advisory Committee on Aviation Consumer Protection and announced those persons appointed as...

77 FR 35465 - Advisory Committee for Aviation Consumer Protection

Science.gov (United States)

2012-06-13

... Committee for Aviation Consumer Protection AGENCY: Office of the Secretary (OST), Department of... first meeting of the Advisory Committee for Aviation Consumer Protection. DATES: The first meeting of... recommendations to the Secretary for improving existing aviation consumer protection programs and for establishing...

78 FR 55327 - Advisory Committee for Aviation Consumer Protection

Science.gov (United States)

2013-09-10

... Committee for Aviation Consumer Protection AGENCY: Office of the Secretary (OST), Department of... fifth meeting of the Advisory Committee for Aviation Consumer Protection. DATES: The fifth meeting of... Consumer Protection and announced those persons appointed as members. The committee's charter, drafted in...

Federal consumer protection regulation: disclosures and beyond

OpenAIRE

Mark Furletti

2005-01-01

On June 10, 2005, the Payment Cards Center hosted a symposium entitled “Federal Consumer Protection Regulation: Disclosures and Beyond.” The symposium brought together credit card industry leaders, legal scholars, consumer advocates, economists, and federal regulators to discuss standardized credit card disclosures and other means of protecting credit card consumers. This paper summarizes the day’s discussion and details the recommendations of symposium participants. In general, these recomme...

40 CFR 51.368 - Public information and consumer protection.

Science.gov (United States)

2010-07-01

... 40 Protection of Environment 2 2010-07-01 2010-07-01 false Public information and consumer.../Maintenance Program Requirements § 51.368 Public information and consumer protection. (a) Public awareness... the test that were failed. (b) Consumer protection. The oversight agency shall institute procedures...

Protection for the Consumer; Business Education: 6463.07.

Science.gov (United States)

Finora, Daniel

This course is designed to acquaint the student with the functions, criticisms, costs, and consumer analysis of advertising; Federal and State regulations of industry operation and advertising; Federal, State, and city agencies for consumer protection; private and business-sponsored organizations for consumer protection; and rights and…

The Low Cost Airline Consumer Price Sensitivity. An Investigation on The Mediating Role of Promotion and Trust in Brand

Directory of Open Access Journals (Sweden)

Janfry Sihite

2014-12-01

Full Text Available The ASEAN Open Sky Policy is one of ASEAN policy to open the airspace between the ASEAN member countries. Aviation services based companies including the Low Cost airlines will experience tight com-petition among ASEAN airline companies. This research aim to explore the effect of price on customer loyalty through the mediating role of promotion and trust in brand. The original sample collected from 100 Indonesian low-cost airline Citilink consumer that just arrived in Soekarno-Hatta International Airport, the bootstrapped techniques conducted for 500 sub-samples and further analyzed with structural equation modelling partial least square. The research findings support the low cost airline consumer price sensitivity, furthermore price affect the trust in brand more severe compared with the promotion. Price effect fully mediated through the trust in brand and promotion toward the consumer loyalty. Further research should consider the sensitivity of price to elaborate the decision making process for the low cost air-line consumer.

The Low Cost Airline Consumer Price Sensitivity. An Investigation on The Mediating Role of Promotion and Trust in Brand

Directory of Open Access Journals (Sweden)

Janfry Sihite

2014-12-01

Full Text Available The ASEAN Open Sky Policy is one of ASEAN policy to open the airspace between the ASEAN member countries. Aviation services based companies including the Low Cost airlines will experience tight com-petition among ASEAN airline companies. This research aim to explore the effect of price on customer loyalty through the mediating role of promotion and trust in brand. The original sample collected from 100 Indonesian low-cost airline Citilink consumer that just arrived in Soekarno-Hatta International Airport, the bootstrapped techniques conducted for 500 sub-samples and further analyzed with structural equation modelling partial least square. The research findings support the low cost airline consumer price sensitivity, furthermore price affect the trust in brand more severe compared with the promotion. Price effect fully mediated through the trust in brand and promotion toward the consumer loyalty. Further research should consider the sensitivity of price to elaborate the decision making process for the low cost airline consumer.

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

International Nuclear Information System (INIS)

Zarnikau, Jay; Fox, Marilyn; Smolen, Paul

2007-01-01

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

Electronic Contracts and the Personal data Protection of the Consumer: Sources Dialogue Between the Consumer Protection Code and the Internet Civil Mark.

Directory of Open Access Journals (Sweden)

Rosane Leal Da Silva

2016-10-01

Full Text Available This paper analyzes the personal data protection of the consumer and your vulnerability in interactive electronic contracts, aiming to point means of defense. For this, uses the deductive approach and starts of the electronic contracting to discuss the legal protection of the consumer in light of the capturing and processing of personal data by the furnisher. Considering the absence of law about personal data, concludes that electronic contracting expands the consumer vulnerability, which requires the principles application of the Consumer Protection Code, adding the Internet Civil Mark in relation to the privacy protection.

Comparison of physicochemical characteristics and consumer perception of rice samples with different countries of origin and prices.

Science.gov (United States)

Jang, Eun-Hee; Lim, Seung-Taik; Kim, Sang Sook

2012-06-01

Rice is the only food item which is not liberalized in Korea. To prepare for future liberalization of the rice market in Korea, the physicochemical characteristics and consumer perception of four domestic rice samples were compared with those of 11 foreign rice samples. Additionally, the influences of country of origin (CO) and price on purchase intent (PI) and willingness to pay (WTP) were investigated. Consumer acceptance of rice samples from Japan was generally higher than that of rice samples from other countries. In an informed test, PI was affected by price and CO, while WTP was affected mostly by price. The PI decreased with the price provided while the WTP increased. In a blind test, consumers evaluated PI and WTP according to sensory liking. The PI was higher in the informed test than in the blind test in all domestic samples. Generally, consumer acceptance was highly correlated with fat acidity (r = - 0.76), protein content (r = - 0.72), and b value (r = - 0.64) of the rice samples. Further efforts to increase the quality of rice are recommended for survival in the global market after liberalization of rice, even though consumers showed loyalty for PI of domestic samples. Copyright © 2011 Society of Chemical Industry.

Regulated prices: for how long more?

International Nuclear Information System (INIS)

Pauron, M.

2008-01-01

Does a government has to intervene in a liberalize market? Between the purchasing power of consumers, the rise of raw materials price and the opening of markets, each announcement by the French government of an increase of the tariffs of Gaz de France (GDF: the historical French gas utility) irritates the ones and the others: the consumer considers it as another attack to its purchasing power, while the gas operators, GDF and its competitors, consider that the gas prices remain below the market prices, does not reflect the real increase of costs, and disturbs the good operation of the competitive market. This paper put the question of what must be the position of a government in a de-regulated energy market in order to implement sustainable economic measures and protect the low-income consumers. (J.S.)

FUNGIBILITY AND CONSUMER CHOICE: EVIDENCE FROM COMMODITY PRICE SHOCKS*

Science.gov (United States)

Hastings, Justine S.; Shapiro, Jesse M.

2015-01-01

We formulate a test of the fungibility of money based on parallel shifts in the prices of different quality grades of a commodity. We embed the test in a discrete-choice model of product quality choice and estimate the model using panel microdata on gasoline purchases. We find that when gasoline prices rise consumers substitute to lower octane gasoline, to an extent that cannot be explained by income effects. Across a wide range of specifications, we consistently reject the null hypothesis that households treat “gas money” as fungible with other income. We compare the empirical fit of three psychological models of decision-making. A simple model of category budgeting fits the data well, with models of loss aversion and salience both capturing important features of the time series. PMID:26937053

FUNGIBILITY AND CONSUMER CHOICE: EVIDENCE FROM COMMODITY PRICE SHOCKS.

Science.gov (United States)

Hastings, Justine S; Shapiro, Jesse M

2013-11-01

We formulate a test of the fungibility of money based on parallel shifts in the prices of different quality grades of a commodity. We embed the test in a discrete-choice model of product quality choice and estimate the model using panel microdata on gasoline purchases. We find that when gasoline prices rise consumers substitute to lower octane gasoline, to an extent that cannot be explained by income effects. Across a wide range of specifications, we consistently reject the null hypothesis that households treat "gas money" as fungible with other income. We compare the empirical fit of three psychological models of decision-making. A simple model of category budgeting fits the data well, with models of loss aversion and salience both capturing important features of the time series.

Pricing schemes for new drugs: a welfare analysis.

Science.gov (United States)

Levaggi, Rosella

2014-02-01

Drug price regulation is acquiring increasing significance in the investment choices of the pharmaceutical sector. The overall objective is to determine an optimal trade-off between the incentives for innovation, consumer protection, and value for money. However, price regulation is itself a source of distortion. In this study, we examine the welfare properties of listing through a bargaining process and value-based pricing schemes. The latter are superior instruments to uncertain listing processes for maximising total welfare, but the distribution of the benefits between consumers and the industry depends on rate of rebate chosen by the regulator. However, through an appropriate choice, it is always possible to define a value-based pricing scheme with risk sharing, which both consumers and the industry prefer to an uncertain bargaining process. Copyright © 2013 Elsevier Ltd. All rights reserved.

An integrated Markov decision process and nested logit consumer response model of air ticket pricing

NARCIS (Netherlands)

Lu, J.; Feng, T.; Timmermans, H.P.J.; Yang, Z.

2017-01-01

The paper attempts to propose an optimal air ticket pricing model during the booking horizon by taking into account passengers' purchasing behavior of air tickets. A Markov decision process incorporating a nested logit consumer response model is established to modeling the dynamic pricing process.

Value for money or making the healthy choice: the impact of proportional pricing on consumers' portion size choices.

Science.gov (United States)

Vermeer, Willemijn M; Alting, Esther; Steenhuis, Ingrid H M; Seidell, Jacob C

2010-02-01

Large food portion sizes are determinants of a high caloric intake, especially if they have been made attractive through value size pricing (i.e. lower unit prices for large than for small portion sizes). The purpose of the two questionnaire studies that are reported in this article was to assess the impact of proportional pricing (i.e. removing beneficial prices for large sizes) on people's portion size choices of high caloric food and drink items. Both studies employed an experimental design with a proportional pricing condition and a value size pricing condition. Study 1 was conducted in a fast food restaurant (N = 150) and study 2 in a worksite cafeteria (N = 141). Three different food products (i.e. soft drink, chicken nuggets in study 1 and a hot meal in study 2) with corresponding prices were displayed on pictures in the questionnaire. Outcome measures were consumers' intended portion size choices. No main effects of pricing were found. However, confronted with proportional pricing a trend was found for overweight fast food restaurant visitors being more likely to choose small portion sizes of chicken nuggets (OR = 4.31, P = 0.07) and less likely to choose large soft drink sizes (OR = 0.07, P = 0.04). Among a general public, proportional pricing did not reduce consumers' size choices. However, pricing strategies can help overweight and obese consumers selecting appropriate portion sizes of soft drink and high caloric snacks. More research in realistic settings with actual behaviour as outcome measure is required.

Consumer Protection Strategies: A Literature Review and Synthesis. Improving the Consumer Protection Function in Postsecondary Education.

Science.gov (United States)

Helliwell, Carolyn B.; Jung, Steven M.

Summarized are the findings of an American Institutes for Research (AIR) project to field test a data capture and dissemination system that would provide information for improving consumer protection in postsecondary education. Presented is a discussion of the methodology used, examples of consumer abuses cited in the literature, an analysis of…

Estimation of Cost Pass Through to Michigan Consumers in the ADM Price Fixing Case

OpenAIRE

Cotterill, Ronald W.

1998-01-01

This report analyzes the economic impact of price fixing in the wet corn milling industry on consumers in the State of Michigan. Two of the companies who produce citric acid have pleaded guilty to fixing its price. In this report we assume that price fixing also occurred among HFCS producers. Given the structure of the corn wet milling industry and the direct purchaser industries, the overcharge is essentially uniform across buyers and selling arrangements. We develop an actual economic model...

Counseling Directory and Consumer's Guide: Implementing Professional Disclosure and Consumer Protection.

Science.gov (United States)

Swanson, John L.

1979-01-01

The publication of a "counseling directory" and "consumer's guide" is a new approach that can be used to respond to the current professional issues of professional disclosure and consumer protection. Reviews the purposes, format, and content of both the directory and guide. (Author)

Joint Dynamic Pricing of Multiple Perishable Products Under Consumer Choice

OpenAIRE

Yalç{\\i}n Akçay; Harihara Prasad Natarajan; Susan H. Xu

2010-01-01

In response to competitive pressures, firms are increasingly adopting revenue management opportunities afforded by advances in information and communication technologies. Motivated by these revenue management initiatives in industry, we consider a dynamic pricing problem facing a firm that sells given initial inventories of multiple substitutable and perishable products over a finite selling horizon. Because the products are substitutable, individual product demands are linked through consume...

77 FR 32901 - State Enforcement of Household Goods Consumer Protection

Science.gov (United States)

2012-06-04

... enforce certain consumer protection provisions of Title 49 of the United States Code (U.S.C.) and related... bring civil actions in the U.S. district courts to enforce the consumer protection provisions that apply..., 386, and 387 State Enforcement of Household Goods Consumer Protection AGENCY: Federal Motor Carrier...

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...

Study on the structure and level of electricity prices for Northwest-European large-scale consumers

International Nuclear Information System (INIS)

2006-06-01

The aim of the study on the title subject is to make an overview of the structure and developments of electricity prices for large-scale consumers in Northwest-Europe (Netherlands, Germany, Belgium and France) and of current regulations for large-scale consumers in Europe [nl

A Consumer Protection Model for Regulating Lawyers.

Science.gov (United States)

Chalfie, Deborah M.

1992-01-01

Describes and critiques the "discipline model" of lawyer regulation from a consumer point of view and outlines an alternative model for regulating lawyers that is grounded in consumer protection principles. (JOW)

The DCFR and consumer protection: an economic assessment

NARCIS (Netherlands)

Luth, H.A.; Cseres, K.; Larouche, P.; Chirico, F.

2010-01-01

This paper will discuss consumer protection in the DCFR. It will screen the DCFR and its model of consumer protection through the lens of economic analysis. The assessment will examine the general role of mandatory rules, which justification grounds they are based on and how this general model is

Free medical care and consumer protection.

Science.gov (United States)

Agrawal, Aniket Deepak; Banerjee, Arunabha

2011-01-01

This paper will examine the question of whether patients, who receive free medical care, whether from private charitable or governmental hospitals, can claim rights as 'consumers' under the Consumer Protection Act, 1986. The issue will be discussed from a constitutional perspective as well as that of the law of torts.

Relating Economic Ideology to Consumer Protection: A Suggested Unit in Consumer Education

Science.gov (United States)

Herrmann, Robert O.

1977-01-01

Describes a suggested unit in consumer education designed to give students insight into the controversy about consumer protection policy and proposals, and compares the basic views of three economic belief systems: neoclassical, managerial, and liberal-Galbraithian. (MF)

The influence of an online auction's product price and e-retailer reputation on consumers' perception, attitude, and behavioral intention.

Science.gov (United States)

Wu, Wann-Yih; Huang, Po-Ching; Fu, Chen-Su

2011-06-01

Online auctions combine the conventional auction model with information technology. However, information asymmetry within such auctions causes risks and uncertainties that influence consumer purchase intentions. In this study, a 2 (product price: high vs. low) × 2 (e-retailer reputation: high vs. low) experimental design was used to understand whether the product price and e-retailer reputation will influence consumers' perceived risk, attitude toward the website and purchase intention. The results of this study indicate that perceived risk negatively influences consumer attitude toward the website and online purchase intention, while consumer attitude toward the website positively influences purchase intention. Moreover, involvement moderates the influence of product price and e-retailer reputation only on social risk but does not have a significant effect on consumer attitude toward the website. This study contributes to a more comprehensive understanding of online auction users' behavior. Finally, the managerial implications, limitations and future research directions are also provided. © 2011 The Authors. Scandinavian Journal of Psychology © 2011 The Scandinavian Psychological Associations.

Accreditation and Student Consumer Protection. An Occasional Paper.

Science.gov (United States)

Jung, Steven M.

The role of postsecondary accreditation and its relation to student consumer protection are discussed in this monograph. The importance of this concept is examined in light of increased marketing efforts on the part of higher education institutions. It is emphasized that students are consumers and their rights should be protected. Possible areas…

The Consumer Protection Bill, 2015: (Lack of) Rights of the Consumer to Terminate Sale Contract

OpenAIRE

Pathak, Akhileshwar

2015-01-01

Consumer protection law rests on the foundations of contract law and the law of sale of goods. A consumer law has to conceptually express this foundation and the modifications it is bringing about in these laws. Without this, the law would become unclear, conflicting and confusing. The Consumer Protection Bill, 2015 is not secured in its foundation and needs revision. The paper reviews the rights of the consumer to terminate the contract and makes suggestions for revision. The suggestions, wi...

Consumer Protection in the Electronic Market Place

DEFF Research Database (Denmark)

Falch, Morten; Henten, Anders

1999-01-01

This paper identifies the most important areas for regulation of consumer protection in relation to electronic commerce, such as marketing, contractual issues and privacy. Furthermore, different approaches for regulation of these issues in a global market is discussed......This paper identifies the most important areas for regulation of consumer protection in relation to electronic commerce, such as marketing, contractual issues and privacy. Furthermore, different approaches for regulation of these issues in a global market is discussed...

Overcoming consumer biases in the choice of pricing schemes: a lab experiment

Czech Academy of Sciences Publication Activity Database

Shestakova, Natalia

-, č. 418 (2010), s. 1-42 ISSN 1211-3298 R&D Projects: GA MŠk LC542 Grant - others:GA UK(CZ) 60010 Institutional research plan: CEZ:MSM0021620846 Keywords : heuristics * price discrimination * consumers' choice Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp418.pdf

Consumer Protection and Behavioral Economics: To BE or Not to BE?

OpenAIRE

Howard Beales

2008-01-01

The foundation of consumer protection policy is respect for consumer choice. Modern consumer protection recognizes the need to preserve information markets and to carefully structure interventions to ensure compatibility with how consumers actually process information.

The Michigan Consumer Protection Act of 1976. Consumer Education Training Module.

Science.gov (United States)

Monsma, Charles

This guide for secondary teachers is designed to identify and illustrate specified illegal practices identified in the Michigan Consumer Protection Act of 1976. The guide also explains procedures that a consumer or law-enforcement agency can take to enforce the provisions of this law. Since the act is a broad one, students learn not only about…

Consumer perception and preference for suboptimal food under the emerging practice of expiration date based pricing in supermarkets

DEFF Research Database (Denmark)

Aschemann-Witzel, Jessica

2017-01-01

, it is unclear which contextual, individual, and product-related factors impact consumer likelihood of choice and thus acceptance of the practice in the long run. The study aimed at exploring the effect of communicating different motives for purchase, the product being organic, familiarity with the practice...... and the interaction with gender is observed for milk in particular. Overall, perceived quality and estimated likelihood of consumption at home majorly determine likelihood of choice. Consumer acceptance of expiration date based pricing of suboptimal food can be increased through furthering consumer familiarity......Consumers have been found to majorly prefer ‘optimal’ food over ‘suboptimal’ when purchasing food. To provide an incentive for consumers to select suboptimal food and thus decrease food waste in the supply chain, expiration date based pricing is suggested and increasingly applied. However...

Price and Service Competition of Dual-Channel Supply Chain with Consumer Returns

Directory of Open Access Journals (Sweden)

Lili Ren

2014-01-01

Full Text Available Products returned by consumers are common in the retail industry and result in additional costs to both the manufacturer and the retailer. This paper proposes dual-channel supply chain models involving consumer returns policies. Also, the price and service competition between retail channel and direct channel is considered in the models. According to the models, we analyze the optimal decisions in both centralized and decentralized scenarios. Then we design a new contract, coordinate the dual-channel supply chain, and enable both the retailer and the manufacturer to be a win-win.

Inflation and changes in output and consumer prices of food in Nigeria

African Journals Online (AJOL)

The main objective of this study is to identify relationship between inflation, food production and changes in consumer prices of food in Nigeria. This study was carried out in the context of a macro-econometric model, which recognizes the inter-relationship among inflation and agricultural production. The study covered the ...

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.

To consume or not. How oil prices affect the comovement of consumption and aggregate wealth

International Nuclear Information System (INIS)

Odusami, Babatunde Olatunji

2010-01-01

This paper provides insight into how oil price movements affect the consumption choices of U.S. households through the wealth channel. Lettau and Ludvigson (2001) show that while consumption, asset wealth, and labor income share a common long-term trend; they substantially deviate from one another in the short run. In this paper, I show that these transitory deviations can be explained by fluctuations in the price of crude oil. Linear and threshold multivariate autoregressive models are used to measure the oil price effect. Oil price effect on the consumption to aggregate wealth ratio is robust to monetary policy effect, sub-period effect, and econometric specifications of oil price effect. Generally speaking, higher (lower) oil price will lead to a decrease (increase) in the proportion of aggregate wealth consumed. In addition, the magnitude of the oil price effect is asymmetric and sub-period dependent. Oil price effect was higher before the 1980's than in succeeding periods. (author)

Price-transparency and cost accounting: challenges for health care organizations in the consumer-driven era.

Science.gov (United States)

Hilsenrath, Peter; Eakin, Cynthia; Fischer, Katrina

2015-01-01

Health care reform is directed toward improving access and quality while containing costs. An essential part of this is improvement of pricing models to more accurately reflect the costs of providing care. Transparent prices that reflect costs are necessary to signal information to consumers and producers. This information is central in a consumer-driven marketplace. The rapid increase in high deductible insurance and other forms of cost sharing incentivizes the search for price information. The organizational ability to measure costs across a cycle of care is an integral component of creating value, and will play a greater role as reimbursements transition to episode-based care, value-based purchasing, and accountable care organization models. This article discusses use of activity-based costing (ABC) to better measure the cost of health care. It describes examples of ABC in health care organizations and discusses impediments to adoption in the United States including cultural and institutional barriers. © The Author(s) 2015.

31 CFR Appendix D to Part 356 - Description of the Consumer Price Index

Science.gov (United States)

2010-07-01

... Price Index (“CPI”) for purposes of inflation-protected securities is the non-seasonally adjusted U.S...' services, and drugs. In calculating the index, price changes for the various items are averaged together... Index D Appendix D to Part 356 Money and Finance: Treasury Regulations Relating to Money and Finance...

Ontario gas prices review task force report : fairness at the pump

International Nuclear Information System (INIS)

2000-01-01

Sudden gas price increases hit Ontario consumers in July 1999, and as a result, the Gas Busters Hotline operated by the provincial government received over 4,000 complaints concerning the price of gas. World crude oil prices increased to above 34 American dollars per barrel by March 2000, and there were discrepancies by as much as 10 cents a litre in the price of gas in Ontario, depending on the community where the purchase was made. The Gas Prices Review Task Force was established in November 1999 to assist in the identification of an adequate solution to the rising price of gas. Public participation was sought, as well as input from representatives of consumer groups and industry. The Task Force was also mandated to conduct policy options research to ensure fair prices at the pump, to examine the regulatory or legislative initiatives that would work best for the protection of the consumer, in accordance with the federal Competition Act. A report was submitted to the Minister of Consumer and Commercial Relations. A total of fourteen recommendations were made to the Minister. The recommendations touched topics as varied as tax collection legislation, price monitoring, segmented earnings reports, removal of the Goods and Services Tax (GST). refs., figs

Pricing and Timing Strategies for New Product Using Agent-Based Simulation of Behavioural Consumers

OpenAIRE

Keeheon Lee; Hoyeop Lee; Chang Ouk Kim

2014-01-01

In this study, we are interested in the problem of determining the pricing and timing strategies of a new product by developing an agent-based product diffusion simulation. In the proposed simulation model, agents imitate behavioural consumers, who are reference dependent and risk averse in the evaluation of new products and whose interactions create word-of-mouth regarding new products. Pricing and timing strategies involve the timing of a new product release, the timing of providing a disco...

Consumers' choice of drinking water: Is it dependent upon perceived quality, convenience, price and attitude?

Science.gov (United States)

Wahid, Nabsiah Abdul; Cheng, Patrick Tan Foon; Abustan, Ismail; Nee, Goh Yen

2017-10-01

Tap water is one of the many sources of water that the public as consumers can choose for drinking. This study hypothesized that perceived quality, convenience, price and environmental attitude would determine consumers's choice of drinking water following the Attribution Theory as the underlying model. A survey was carried out on Malaysia's public at large. From 301 usable data, the PLS analysis revealed that only perceived quality, convenience and price attributed towards the public's choice of drinking water while attitude was not significant. The findings are beneficial for the water sector industry, particularly for drinking water operators, state governments, and alternative drinking water manufacturers like bottled water companies. The ability to identify factors for why consumers in the marketplace choose the source of their drinking water would enable the operators to plan and strategize tactics that can disseminate accurate knowledge about the product that can motivate marketability of drinking water in Malaysia.

The Consumer Financial Protection Bureau and the Quest for Consumer Comprehension

Directory of Open Access Journals (Sweden)

Lauren E. Willis

2017-01-01

Full Text Available To ensure that consumers understand financial products’ “costs, benefits, and risks,” the Consumer Financial Protection Bureau has been redesigning mandated disclosures, primarily through iterative lab testing. But no matter how well these disclosures perform in experiments, firms will run circles around the disclosures when studies end and marketing begins. To meet the challenge of the dynamic twenty-first-century consumer financial marketplace, the bureau should require firms to demonstrate that a good proportion of their customers understand key pertinent facts about the financial products they buy. Comprehension rules would induce firms to inform consumers and simplify products, tasks that firms are better equipped than the bureau to perform.

Consumers` Attitude towards Consumer Protection in the Digital Single Market, as Reflected by European Barometers

Directory of Open Access Journals (Sweden)

Doru Alexandru Pleşea

2014-05-01

Full Text Available The European Single Market is an ongoing project that will continue to further develop and adapt to changing realities. Traditional economic activities, and the administrative rules governing them, face the challenge of adapting to developments that blur the dividing lines, for example, between shop and online sales or between traditional media and Internet communication. Convergence of this type will lead to a European Digital Single Market. A genuine Digital Single Market would generate new types of growth and also sustainable economic and social benefits for all European citizens. There are still a number of barriers which impose obstacles for the development of the digital market in Europe. Obstacles which can be identified include national differences regarding data protection rules, e-commerce rules, consumer protection rules and other legislation pertaining to information flows. The paper brings in discussion the advantages of a Digital Single Market, the obstacles in developing it in connection with e-commerce regulations, consumer protection and information flows legislation and also the premises for implementing a Digital Single Market. Consumers’ trust in on-line commerce results as one of the driving factors in implementing a Digital Single Market. These are some of the main obstacles for the boosting consumers’ confidence in the European Single Market. Improving consumer confidence in cross-border shopping online by taking appropriate policy action could provide a major boost to economic growth in Europe. Empowered and confident consumers can drive forward the European economy. Starting from the results of the Flash Euro-barometer survey „Consumer attitudes towards cross-border trade and consumer protection this study analyzes consumer`s readiness for the European Digital Single Market

Students as Consumers: The Implications of the Consumer Protection Act for Higher Education Institutions in South Africa

Science.gov (United States)

Reddy, K.

2012-01-01

The Consumer Protection Act (CPA) lays the basis for the protection of consumer rights in South Africa and comprehensively sets out obligations for "suppliers". There have been differing views expressed as to whether a student should be seen as a consumer. It is clear, however, that this Act applies to HEIs. This article, firstly,…

75 FR 29386 - Consumer Protections for Depository Institution Sales of Insurance

Science.gov (United States)

2010-05-25

... DEPARTMENT OF THE TREASURY Office of Thrift Supervision Consumer Protections for Depository...: Consumer Protection for Depository Institution Sales of Insurance. OMB Number: 1550-0106. Regulation..., Federal Deposit Insurance Corporation, and Office of Thrift Supervision to prescribe joint consumer...

Rushing into American Dream? House Prices, Timing of Homeownership, and Adjustment of Consumer Credit

OpenAIRE

Agarwal, Sumit; Hu, Luojia; Huang, Xing

2013-01-01

In this paper we use a large panel of individuals from Consumer Credit Panel dataset to study the timing of homeownership as a function of credit constraints and expectations of future house price. Our panel data allows us to track individuals over time and we model the transition probability of their first home purchase. We find that in MSAs with highest quartile house price growth, the median individual become homeowners earlier by 5 years in their lifecycle compared to MSAs with lowest qua...

Consumer Product Chemical Weight Fractions from Ingredient Lists

Data.gov (United States)

U.S. Environmental Protection Agency — Data and model predictions supporting the manuscript: Isaacs K.K., Phillips K.A., Biryol D., Dionisio K.L., and Price P. Consumer product chemical weight fractions...

Micro-energy markets: The role of a consumer preference pricing strategy on microgrid energy investment

International Nuclear Information System (INIS)

Faber, Isaac; Lane, William; Pak, Wayne; Prakel, Mary; Rocha, Cheyne; Farr, John V.

2014-01-01

The fragility of the modern electrical grid is exposed during random events such as storms, sporting events and often simply routine operation. Even with these obvious flaws large utilities and governments have been slow to create robust solutions due to the need of large capital investments required to address the issues. In this light creative economic and engineering solutions are desired to finance the needed upgrades. Driven by the requirement to have uninterrupted power that meets customers desires this research focuses on linking consumer preferences to a type of energy source in order to best fulfill stakeholder priorities. This approach is in contrast to the current and prevalent lowest cost methods to producing and consuming energy. This research yields a preliminary ‘micro-energy market’ that consists of an energy network architecture, pricing methodology and mathematical template which quantifies potential economic inefficiencies. If exploited these inefficiencies could be used to fund investment into various energy sources that provide unmet needs such as reduced carbon footprint, renewable, quality, and local production. These inefficiencies can be best exploited within the structure of a microgrid. Identification of opportunities on this smaller scale can provide an incentive for producers to develop a robust set of production facilities of varying size and characteristics to meet the consumer preferences. A stochastic optimization model of a microgrid implementation for a small military installation is used to evaluate the effects of this pricing methodology. The energy production of the resulting microgrid would be optimized to meet consumer preferences and minimize economic inefficiency. - Highlights: • This research focuses on linking consumer preferences to a type of energy source. • Pricing methodology quantifies strategic investments in alternative sources. • Inefficiencies could be used to fund investment into various energy sources

Arbitrability limitation in consumer (B2C disputes? : Consumers´ protection as legal and economic phenomenon

Directory of Open Access Journals (Sweden)

Alexander J. Bělohlávek

2012-10-01

Full Text Available Protection of consumers became a phenomenon of many governmental politics. Retrieval of a balance between privat autonomy and protection of a weaker party is very sensitive. The particular degree of consumers protection through limitation of contractual autonomy (in B2C contracts as well as procedural autonomy (regarding B2C dispute resolution mechanisms, as chosen by particular governments, has both legal and economic effects, in positive and negative sense. The European Court of Human Rights adjudicated repeatedly that traditional court litigation is not capable to grant effective protection to contractual claims in many countries. Arbitration is therefore one of possible tools for B2C dispute resolution, even if many countries and obviously the EU Commission followe rather an opposite strategy (keeping down arbitrability of B2C disputes in the opposite to US trends. Arbitration is not a cure-all and definitely not a method suitable for the resolution of any and all types of disputes. It has its proponents as well as opponents. Indeed, it is hard to claim that a particular type (class of disputes is a priori fit to be resolved in arbitration, rather than litigation, or vice versa. This also applies to consumer disputes (disputes from consumer contracts. It is fairly undisputable that consumers deserve a certain degree of specific protection in cases in which they are forced to enter into a particular contract and have no other option than to accept the conditions stipulated by the other party (the professional. But we cannot principally claim that the resolution of these disputes in court would be more suitable than arbitration or any other, the so-called alternative, dispute resolution method (ADR. Despite the basically undisputed importance of and the need for special consumer protection (whether provided by special laws, typically in Europe, or on the basis of general legal principles and the application of general contract law, like in the

Healthier fast-food options – Are consumers happy with the price they pay and the value that they receive?

Directory of Open Access Journals (Sweden)

Melanie Gopaul

2015-10-01

Full Text Available Changes in consumer lifestyle patterns have had a great impact on the fast-food industry worldwide and the demand for heathier food has forced such a growing industry to offer more alternatives to cater for these consumers. Many fast-food outlets have introduced healthier food options to their menus. However, there seems to be a common perception among consumers that healthier food options are more expensive. The primary research aim that pended from the literature was therefore to determine South African consumers’ level of satisfaction with the price and value of the healthier food options available at fast-food outlets. The results may assist fast-food outlets in adjusting their pricing strategy and offering consumers better value for money. A mixed method approach was used to collect data whereby self-administered questionnaires comprising of closed-ended, open-ended and scaled response questions were distributed to respondents. The findings indicated a low level of satisfaction among South African consumers’ with the price and value of healthier options offered at fast-food outlet

Consumer Legislation and E-Commerce Challenges

Directory of Open Access Journals (Sweden)

Jason Freeman

2015-07-01

Full Text Available Where there is vigorous competition, and consumer confidence, there is economic growth. E-commerce drives both of these but there remain situations where traders exploit technology or consumer behavioural biases, and seek to compete on the wrong things –such as unrealistic up front prices. This harms competition and can reduce consumer trust, meaning that consumers consume less. This could occur when traders: i prevent consumers from accessing, assessing or acting on information, and so make the wrong choice; ii take advantage of their superior understanding of technology to collect data or money from consumers; iii abuse the advantages of the internet (ease of set up, cross jurisdictional reach, access to markets to misrepresent the price, the quality, the range of products on offer, or the service you will get.Firms should therefore behave responsibly, and not seek to steal an unfair march on their competitors. Effective enforcement incentivises the right behaviours. In order to enforce effectively, EU agencies need to prioritise robustly and build strong competence in internet investigation. Increasingly enforcement activities need to be run as international projects involving non EU enforcers and industry allies –and we need to be willing to protect overseas consumers as well as our own. It is important that the legal framework facilitates, rather than hinders, enforcement –so that for example investigators can easily discover the true identity of traders who run anonymous websites, that they are able to carry out covert test purchases, and so that websites causing harm to the economic interests of consumers can swiftly be removed.There are a number of areas where the EU legislator should consider further work, in order to address those persistent threats that have proven difficult to eradicate so far: clarifying the scope of platform responsibility; extending consumer protection to all individuals; ensuring all CPC enforcers have

The role of regulatory council in the energy sector from the aspect of consumers' protection

International Nuclear Information System (INIS)

Banovac, E.; Pavlovic, D.; Boljesic, K.

2003-01-01

The consumers' protection legal base, with few factors of new legislative consumers' protection legislation in European Union, in the Law on Consumers' Protection, and in the set of the Croatian Energy Laws is shown in this paper. Special attention in this paper is paid on five factors of regulatory body's orientation to the consumers' protection field, which energy regulatory body's policy should be included. The model of consumers' protection in the energy sector is shown, with the scheme of Three-component interactive subsystems: basic legislation which is determined consumers' protection policy, planning activities for consumers' protection (short and long time plans), and performing activities for consumers' protection. Furthermore, the approach of consumers' protection in the energy sectors in European Union are described. The paper gives the model of consumers' protection in the Croatian energy sector, and Croatian Energy Regulatory Council' approach to this issue. The table, with the data of specific consumers' protection problems in practice, those the Croatian Energy Regulatory Council as a regulatory body have been settled, is shown.(author)

A Data-Driven Bidding Model for a Cluster of Price-Responsive Consumers of Electricity

DEFF Research Database (Denmark)

Saez Gallego, Javier; Morales González, Juan Miguel; Zugno, Marco

2016-01-01

This paper deals with the market-bidding problem of a cluster of price-responsive consumers of electricity. We develop an inverse optimization scheme that, recast as a bilevel programming problem, uses price-consumption data to estimate the complex market bid that best captures the price......-response of the cluster. The complex market bid is defined as a series of marginal utility functions plus some constraints on demand, such as maximum pick-up and drop-off rates. The proposed modeling approach also leverages information on exogenous factors that may influence the consumption behavior of the cluster, e...... can be largely captured in the form of a complex market bid, so that this could be ultimately used for the cluster to participate in the wholesale electricity market....

77 FR 66935 - Telephone Consumer Protection Act of 1991

Science.gov (United States)

2012-11-08

... FEDERAL COMMUNICATIONS COMMISSION 47 CFR Part 64 [CG Docket No. 02-278; FCC 12-21] Telephone Consumer Protection Act of 1991 AGENCY: Federal Communications Commission. ACTION: Final rule; correction...: Karen Johnson, Consumer and Governmental Affairs Bureau, Consumer Policy Division, at (202) 418- 7706 or...

Recycling Pricing and Coordination of WEEE Dual-Channel Closed-Loop Supply Chain Considering Consumers' Bargaining.

Science.gov (United States)

Zhu, Xiaodong; Wang, Jing; Tang, Juan

2017-12-15

Environmentally friendly handling and efficient recycling of waste electrical on Waste Electrical and Electronic Equipment (WEEE) have grown to be a global social problem. As holders of WEEE, consumers have a significant effect on the recycling process. A consideration of and attention to the influence of consumer behavior in the recycling process can help achieve more effective recycling of WEEE. In this paper, we built a dual-channel closed-loop supply chain model composed of manufacturers, retailers, and network recycling platforms. Based on the influence of customer bargaining behavior, we studied several different scenarios of centralized decision-making, decentralized decision-making, and contract coordination, using the Stackelberg game theory. The results show that retailers and network recycling platforms will reduce the direct recovery prices to maintain their own profit when considering the impact of consumer bargaining behavior, while remanufacturers will improve the transfer payment price for surrendering part of the profit under revenue and the expense sharing contract. Using this contract, we can achieve supply chain coordination and eliminate the effect of consumer bargaining behavior on supply chain performance. It can be viewed from the parameter sensitivity analysis that when we select the appropriate sharing coefficient, the closed-loop supply chain can achieve the same system performance under a centralized decision.

Food prices and consumer demand: differences across income levels and ethnic groups.

Directory of Open Access Journals (Sweden)

Cliona Ni Mhurchu

Full Text Available BACKGROUND: Targeted food pricing policies may improve population diets. To assess their effects on inequalities, it is important to determine responsiveness to price changes across income levels and ethnic groups. OBJECTIVE: Our goal was to estimate price elasticity (PE values for major commonly consumed food groups in New Zealand, by income and ethnicity. PE values represent percentage change in demand associated with 1% change in price of that good (own-PE or another good (cross-PE. DESIGN: We used food expenditure data from national household economic surveys in 2007/08 and 2009/10 and Food Price Index data from 2007 and 2010. Adopting an Almost Ideal Demand System approach, own-PE and cross-PE estimates were derived for 24 food categories, household income quintiles, and two ethnic groups (Māori and non-Māori. RESULTS: Own-PE estimates (with two exceptions ranged from -0.44 to -1.78. Cross-PE estimates were generally small; only 31% of absolute values were greater than 0.10. Excluding the outlier 'energy drinks', nine of 23 food groups had significantly stronger own-PEs for the lowest versus highest income quintiles (average regression-based difference across food groups -0.30 (95% CI -0.62 to 0.02. Six own-PEs were significantly stronger among Māori; the average difference for Māori: non-Māori across food groups was -0.26 (95% CI -0.52 to 0.00. CONCLUSIONS: Food pricing policies have potential to improve population diets. The greater sensitivity of low-income households and Māori to price changes suggests the beneficial effects of such policies on health would be greatest for these groups.

Brand Name, Store Image, and Country-of-Origin: The Effects on Consumers' Perception of Quality and Price.

Science.gov (United States)

King, Margaret C. A.

1993-01-01

A review of literature indicated that, with regard to brand labels, consumers' perception of price, but not of quality, was affected. Consumers expected to pay more for goods bought in a higher status store and rated imported goods as being more expensive than domestically produced goods. Products from developing countries received lower quality…

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....

Fuel price impacts and compliance costs associated with the Renewable Fuel Standard (RFS)

International Nuclear Information System (INIS)

Christensen, Adam; Siddiqui, Sauleh

2015-01-01

US policy instruments concerning vehicle biofuels are currently being revisited. For example, as part of an on-going annual Renewable Fuel Standard (RFS) implementation, the Environmental Protection Agency (EPA) requests stakeholder feedback/analysis of programmatic effects, including impacts on gasoline/diesel prices and compliance costs. Motivated by the need for regulatory-specific feedback, a novel regional market model is developed that quantifies price impacts across different regional markets for a number of market variables, including several types of compliance certificates known as Renewable Identification Numbers (RINs). An analysis of the most recent EPA proposal suggests that the D4 (biodiesel) RIN price could rise to >$1.00/RIN. Sensitivity results show that the D4 RIN price is highly sensitive to soybean oil prices, while D5/D6 RIN prices are most sensitive to the volume of E85 consumed. It was found that the projected costs associated with the RFS in 2017 could be reduced by approximately 50% if an additional 600 million gallons of E85 were consumed. The analysis also suggests that the RFS does not dramatically affect the retail price of either gasoline and diesel fuels paid by consumers. - Highlights: • The most recent EPA could cause the biodiesel RIN price to rise to >$1.00/RIN. • D5/D6 RIN prices are most sensitive to the volume of E85 consumed. • Retail prices for fuel do not change dramatically. • 2017 compliance costs could fall by 50% if more E85 were consumed.

EMPIRICAL GENERALIZATIONS ABOUT THE IMPACT OF ADVERTISING ON PRICE SENSITIVITY AND PRICE

NARCIS (Netherlands)

KAUL, A; WITTINK, DR

1995-01-01

Consumers' sensitivities to price changes are an important input to strategic and tactical decisions. It has been argued that price sensitivities depend on factors such as advertising Prior studies on the effect of advertising on consumer price sensitivity have found seemingly conflicting results.

Contract mechanisms for coordinating pricing strategies in a supply chain with two consumer segments

NARCIS (Netherlands)

Nalla, V.R.; Venugopal, V.; Veen, van der J.A.A.

2009-01-01

This paper addresses pricing strategies in a serial supply chain (SC) consisting of a single Buyer, a single Supplier and where the end-consumers are comprised of two segments, each with a different willingness-to-pay. Under the assumption that the final demand and the segments’ willingness-to-pay

Understanding gasoline pricing in Canada

International Nuclear Information System (INIS)

2001-04-01

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

Fundamental Consumer Rights Under the Consumer Protection Act 68 of 2008: A Critical Overview and Analysis

Directory of Open Access Journals (Sweden)

R van Niekerk

2010-12-01

Full Text Available South Africa was in need of a comprehensive framework of legislation, policies and government authorities to regulate consumer-supplier interaction. The Consumer Protection Act 68 of 2008, which was signed by the President of the Republic of South Africa on 29 April 2009 and published in the Government Gazette on 29 April 2009, now provides an extensive framework for consumer protection and aims to develop, enhance and protect the rights of consumers and to eliminate unethical suppliers and improper business practices. Certain areas of the common law regarding consumer rights have been codified by the Act and certain unfair business practices that were previously unregulated are now governed by the Act. The Act has a wide field of application. It applies to every transaction occurring within South Africa for the supply of goods or services or the promotion of goods or services and the goods or services themselves, unless the transaction is exempted from the application of the Act. The Act also specifically regulates aspects of franchise agreements. In terms of the Act, consumers obtain several new rights and some existing rights are broadened and reinforced. These rights are: the right to equality in the consumer market; privacy; choice; disclosure and information; fair and responsible marketing; fair and honest dealing; fair, just and reasonable terms and conditions; and fair value, good quality and safety. The last right in terms of the Act deals with a supplier's accountability to consumers. The authors critically analyse and discuss these rights. It is clear that the Act is written in favour of the consumer.

77 FR 41699 - Transportation of Household Goods in Interstate Commerce; Consumer Protection Regulations...

Science.gov (United States)

2012-07-16

... regulations to require HHG brokers to comply with certain consumer protection requirements. As a part of that... that rule, if an individual shipper elects to waive physical receipt of the consumer protection... receipts documenting an individual shipper's waiver of physical receipt of the consumer protection...

12 CFR 590.4 - Federally-related residential manufactured housing loans-consumer protection provisions.

Science.gov (United States)

2010-01-01

... housing loans-consumer protection provisions. 590.4 Section 590.4 Banks and Banking OFFICE OF THRIFT... manufactured housing loans—consumer protection provisions. (a) Definitions. As used in this section: (1... protection to consumers. Such determinations shall be published in the Federal Register and shall operate...

Consumer protection act for digital products

Science.gov (United States)

Hampel, Viktor E.

1996-03-01

This report proposes a `Consumer Protection Act for Digital Products' to support electronic commerce and to control the increasing abuse and lack of security on the national information highways. Patterned after the `Food and Drug Act of 1906 (21 USC)' and subsequent legislation, a new agency similar to that of the FDA would have the authority `to develop administrative policy with regard to the safety, effectiveness, and labeling of digital products and their communications for human use, and to review and evaluate new applications of such products.' Specifically, it is proposed that standards, originally developed by the defense industry for the labeling, enveloping, and authentication of digital products delivered to the Government, be extended to promote global electronic commerce by protecting the intellectual property rights of producers, establishing their liability for the end-use of digital products, and give consumers means for informed decision making and purchase.

The Development of Consumer Protection Policies in Malaysia

Directory of Open Access Journals (Sweden)

Mohamad Fazli Sabri

2014-06-01

Full Text Available The Malaysian government envisions Malaysia as an inclusive and sustainable high-income nation by 2020. The definition of “high income” is per capita income of USD15, 000 or MYR48, 000, based on the World Bank’s current definition of “high income”. The objective is not merely a quantitative target; it is also about Malaysia being an advanced and developed nation with an economy having the characteristics of developed nations. Advancements in information and communication technology (ICT and globalization have resulted in the evolution of a more complex and challenging marketplace. As today’s consumers are constantly faced with a bewildering array of goods and services in the market, consumers must be equipped with an elevated level of consumerism knowledge and skills. Malaysian consumers thus need to be kept in touch with developments in the market, enabling them to act and decide effectively, to ensure that they develop as more empowered, savvy and resilient consumers now and after Malaysia transforms into a developed nation. However, without the government’s intervention to protect consumers through adequate legislations and enforcement, the aim of creating “empowered consumers” will not be realized. This paper aims to discuss the development of consumer protection policies in Malaysia.

Food Prices and Consumer Demand: Differences across Income Levels and Ethnic Groups

Science.gov (United States)

Ni Mhurchu, Cliona; Eyles, Helen; Schilling, Chris; Yang, Qing; Kaye-Blake, William; Genç, Murat; Blakely, Tony

2013-01-01

Background Targeted food pricing policies may improve population diets. To assess their effects on inequalities, it is important to determine responsiveness to price changes across income levels and ethnic groups. Objective Our goal was to estimate price elasticity (PE) values for major commonly consumed food groups in New Zealand, by income and ethnicity. PE values represent percentage change in demand associated with 1% change in price of that good (own-PE) or another good (cross-PE). Design We used food expenditure data from national household economic surveys in 2007/08 and 2009/10 and Food Price Index data from 2007 and 2010. Adopting an Almost Ideal Demand System approach, own-PE and cross-PE estimates were derived for 24 food categories, household income quintiles, and two ethnic groups (Māori and non-Māori). Results Own-PE estimates (with two exceptions) ranged from −0.44 to −1.78. Cross-PE estimates were generally small; only 31% of absolute values were greater than 0.10. Excluding the outlier ‘energy drinks’, nine of 23 food groups had significantly stronger own-PEs for the lowest versus highest income quintiles (average regression-based difference across food groups −0.30 (95% CI −0.62 to 0.02)). Six own-PEs were significantly stronger among Māori; the average difference for Māori: non-Māori across food groups was −0.26 (95% CI −0.52 to 0.00). Conclusions Food pricing policies have potential to improve population diets. The greater sensitivity of low-income households and Māori to price changes suggests the beneficial effects of such policies on health would be greatest for these groups. PMID:24098408

The Efects of Corporate Social Responsibility Initiatives and Price Premiums on Polish Consumers' Responses: An Experimental Study

Directory of Open Access Journals (Sweden)

Wójcik Piotr

2014-10-01

Full Text Available This article explores whether, how and which forms of corporate social responsibility (CSR initiatives influence consumer perceptions of the value of and intention to buy responsibly manufactured yogurt, and identifies the impact of the price rise effect on consumer responses. An experimental study was conducted using scenarios with a sample of 421 university students. The results indicate that information about positive corporate behavior evokes higher perceived value and buying intention than information about negative corporate behavior; that responses differ significantly depending on whether or not the CSR initiative relates to the firm's core business; and that there is a level of consumer sensitivity to the price premium for a responsibly made yogurt. This study expands existing knowledge beyond previous areas of focus by demonstrating that a CSR initiative related to a firm's core business generates higher perceived value and buying intention than a non-related initiative, and by showing that there exists a trade-of between functional and social attributes. The findings of this study may be of interest to companies by showing the level of premium price acceptance and by demonstrating that CSR initiatives detached from basic business activity may bring negative consequences in terms of sales volume.

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.

Consumers' purchase intention of organic food in China.

Science.gov (United States)

Yin, Shijiu; Wu, Linhai; Du, Lili; Chen, Mo

2010-06-01

The global market for organic food has developed significantly in the past decade. The organic food industry in China is export oriented, with production growing rapidly, although the domestic market remains relatively small. This paper surveys 432 consumers from three cities in China, consequently establishing a logit model to analyse the main factors affecting consumers' choice for organic food. The result indicates that Chinese consumers' intent to purchase organic food is strongly affected by factors such as income, degree of trust in organic food, degree of acceptance of organic food price, and consumers' concern on self-health. This intent is only slightly affected by factors such as consumers' age, education level and concern about environmental protection. Based on the results, the following measures are recommended: reduce the cost of organic food through multiple channels to cut down the market price; establish and perfect the supervision system of organic food; and promote organic food through various channels. Copyright (c) 2010 Society of Chemical Industry.

When the weather governs the price

International Nuclear Information System (INIS)

Braaten, Jan

2003-01-01

In the winter 2002-2003 the Nordic power market experienced a price shock: prices rose by a factor of eight during the autumn of 2002. This was caused above all by a record failure of the water influx to the entire Nordic hydropower system. But extreme cold and technical problems with import from the Continent aggravated the problem. The probability of so small influx in autumn is less than 0.5 per cent. The large variation in influx, in particular from one year to the next, create large price fluctuations which can be unpleasant for the consumers. At the same time the price mechanism is important for the proper balance between demand and supply. It was the high prices that last winter raised the import to Norway and Sweden and that caused idle fossil power stations to be restarted and the consumption to go down. A better energy balance in Norway and Sweden will increase the supply security, but in order to exploit the unstable hydropower resources well and to achieve an acceptable supply security in dry years flexibility is needed in production, consumption, and trade with the surrounding world. Most measures to increase the flexibility cost money, and it is probably impossible and economically undesirable to protect the consumers from all price shocks. It should be possible, however, for those who want stable expenses, to choose contracts with firm prices for the whole consumption or for part of it.

Generic market design issues highlighted: prices soar in Alberta as capacity tightens

International Nuclear Information System (INIS)

Anon.

1999-01-01

Many Alberta consumers, alarmed by enormous price increases, are asking questions about whether electric sector restructuring in the province has progressed far enough. The average cost of power in Alberta's spot market in October were $70.46 per MWH above the $20-$30 that consumers had paid in recent years. It is widely admitted that the high prices reflect an increasingly tight supply situation in which construction of new capacity has not kept pace with growth in demand. It is a standard case of what happens when the market design focuses on promoting short-term price competition to the detriment of creating compeition in the forward markets. A debate has been produced in Alberta with major power consumers calling for a breakup of the three major generators, and the government suggesting that such intervention would be like returning to the days before competition when government tried to control everything. Competition may not work unless divestiture is revisited. There is a hard time seeing the light at the end of the restructuring tunnel for industrial consumers. Ontario's Market Design Committee struggled with the same issue, believing that an industry composed of many smaller independent generating companies was the only way to achieve lasting and meaningful price competition. The best price protection for consumers is an active and competitive investment market for new capacity, and Alberta should not repeat Ontario's mistake and leave the work until price problems develop

Sugar Price Supports and Taxation

Science.gov (United States)

Dilk, Abby; Savaiano, Dennis A.

2017-01-01

Domestic US sugar production has been protected by government policy for the past 82 years, resulting in elevated domestic prices and an estimated annual (2013) $1.4 billion dollar “tax” on consumers. These elevated prices and the simultaneous federal support for domestic corn production have ensured a strong market for high-fructose corn syrup. Americans have dramatically increased their consumption of caloric sweeteners during the same period. Consumption of “empty” calories (ie, foods with low-nutrient/high-caloric density)—sugar and high-fructose corn syrup being the primary sources—is considered by most public health experts to be a key contributing factor to the rise in obesity. There have been substantial efforts to tax sugar-sweetened beverages (SSBs) to both reduce consumption and provide a source of funds for nutrition education, thereby emulating the tobacco tax model. Volume-based SSB taxes levy the tax rate per ounce of liquid, where some are only imposed on beverages with added sugar content exceeding a set threshold. Nonetheless, volume-based taxes have significant limitations in encouraging consumers to reduce their caloric intake due to a lack of transparency at the point of purchase. Thus, it is hypothesized that point-of-purchase, nutrient-specific excise taxes on SSBs would be more effective at reducing sugar consumption. However, all SSB taxes are limited by the possibility that consumers may compensate their decreased intake from SSBs with other high-calorie junk foods. Furthermore, there are no existing studies to provide evidence on how SSB taxes will impact obesity rates in the long term. The paradox of sugar prices is that Americans have paid higher prices for sugar to protect domestic production for more than 80 years, and now, Americans are being asked to pay even more to promote public health. The effective use of sugar taxes should be considered based on their merits in reducing sugar consumption and making available a new

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...

Consumer Protection in Postsecondary Education: A National Invitational Conference. Program Handbook.

Science.gov (United States)

Albanese, Frank N.; And Others

Twelve preconference papers and background articles that identify issues in consumer protection in postsecondary education are presented. The papers and articles include "Recruitment Practices of Postsecondary Schools" (Frank N. Albanese); "The Role of a State Agency in Consumer Protection" (Philip F. Ashler); "The Three R's of Postsecondary…

THE CONSUMER PROTECTION ACT 68 OF 2008 AND PROCEDURAL FAIRNESS IN CONSUMER CONTRACTS

Directory of Open Access Journals (Sweden)

Philip N Stoop

2015-11-01

Full Text Available In general, the concept "contractual fairness" can be narrowed down, described and analysed with reference to the two interdependent types of fairness – substantive and procedural fairness. Measures aimed at procedural fairness in contracts address conduct during the bargaining process and generally aim at ensuring transparency. One could say that a contract is procedurally fair where its terms are transparent and do not mislead as to aspects of the goods, service, price and terms. Despite the noble aims of legislative measures aimed at procedural fairness there are certain limits to the efficacy of procedural measures and transparency. The special procedural measures which must be considered in terms of the Consumer Protection Act 68 of 2008 in order to decide if a contract is fair are analysed in this article, as are other measures contained in the Act, which may also increase procedural fairness, and are discussed so as to allow suppliers to predict whether their contracts will be procedurally fair or not in terms of the Act. The special procedural measures can be categorised under measures requiring disclosure and/or mandatory terms, and measures addressing bargaining position and choice. It is concluded that owing to the nature of all these factors and measures related to procedural fairness, it is clear that openness and transparency are required by the CPA.

77 FR 63240 - Telephone Consumer Protection Act of 1991

Science.gov (United States)

2012-10-16

... organizations, companies with whom consumers have an established business relationship, and calls to persons... Consumer Protection Act of 1991 AGENCY: Federal Communications Commission. ACTION: Final rule; announcement of effective date. SUMMARY: In this document, the Commission announces that the Office of Management...

Do High Consumers of Sugar-Sweetened Beverages Respond Differently to Price Changes? A Finite Mixture IV-Tobit Approach.

Science.gov (United States)

Etilé, Fabrice; Sharma, Anurag

2015-09-01

This study compares the impact of sugar-sweetened beverages (SSBs) tax between moderate and high consumers in Australia. The key methodological contribution is that price response heterogeneity is identified while controlling for censoring of consumption at zero and endogeneity of expenditure by using a finite mixture instrumental variable Tobit model. The SSB price elasticity estimates show a decreasing trend across increasing consumption quantiles, from -2.3 at the median to -0.2 at the 95th quantile. Although high consumers of SSBs have a less elastic demand for SSBs, their very high consumption levels imply that a tax would achieve higher reduction in consumption and higher health gains. Our results also suggest that an SSB tax would represent a small fiscal burden for consumers whatever their pre-policy level of consumption, and that an excise tax should be preferred to an ad valorem tax. Copyright © 2015 John Wiley & Sons, Ltd.

Adding A2K Principles to the UN Guidelines for Consumer Protection

International Development Research Centre (IDRC) Digital Library (Canada)

Adding A2K Principles to the UN Guidelines for Consumer Protection ... of standards for good practices in consumer protection, particularly for developing countries. ... IWRA/IDRC webinar on climate change and adaptive water management.

Regulated and unregulated Nordic retail prices

International Nuclear Information System (INIS)

Johnsen, Tor Arnt; Olsen, Ole Jess

2011-01-01

Nordic residential electricity consumers can now choose among a number of contracts and suppliers. A large number of households have continued to purchase electricity from the incumbent supplier at default contract terms. In this paper, we compare the situation for such passive customers. Danish default prices are regulated whereas default prices in the other countries are unregulated. Systematic price differences exist among the Nordic countries. However, as wholesale prices sometimes differ the gross margin is a more relevant indicator. Regulated gross margins are lower in Denmark than in Sweden but higher than in Norway and Finland. Because of market design Norwegian default contracts are competitive whereas Swedish contracts provide the retailer with some market power. We interpret the low Finnish margins as a result of municipal retailers continuing traditional pricing from the monopoly period. Danish margins are higher than the competitive Norwegian margins but are earned from a much lower level of consumption. The annually margins earned per consumer are very close in the two countries, which indicates that the Danish regulation is achieving its objective of approaching competitive prices. - Highlights: → Prices of active and passive Nordic residential electricity consumers are compared. → Active consumers get lower prices in Sweden but not in Norway. → Prices of passive consumers differ considerably among the four Nordic countries. → Danish regulated prices compare well with unregulated prices in the other countries. → Passive consumers in Finland have low prices compared with the other countries.

Regulated and unregulated Nordic retail prices

Energy Technology Data Exchange (ETDEWEB)

Johnsen, Tor Arnt, E-mail: tor.a.johnsen@bi.no [Norwegian School of Management BI, NO-0442 Oslo (Norway); Olsen, Ole Jess, E-mail: ojo@ruc.dk [Department of Environmental, Social and Spatial Change (ENSPAC), Roskilde University, Building 10.1, Universitetsvej 1, DK-4000, Roskilde (Denmark)

2011-06-15

Nordic residential electricity consumers can now choose among a number of contracts and suppliers. A large number of households have continued to purchase electricity from the incumbent supplier at default contract terms. In this paper, we compare the situation for such passive customers. Danish default prices are regulated whereas default prices in the other countries are unregulated. Systematic price differences exist among the Nordic countries. However, as wholesale prices sometimes differ the gross margin is a more relevant indicator. Regulated gross margins are lower in Denmark than in Sweden but higher than in Norway and Finland. Because of market design Norwegian default contracts are competitive whereas Swedish contracts provide the retailer with some market power. We interpret the low Finnish margins as a result of municipal retailers continuing traditional pricing from the monopoly period. Danish margins are higher than the competitive Norwegian margins but are earned from a much lower level of consumption. The annually margins earned per consumer are very close in the two countries, which indicates that the Danish regulation is achieving its objective of approaching competitive prices. - Highlights: > Prices of active and passive Nordic residential electricity consumers are compared. > Active consumers get lower prices in Sweden but not in Norway. > Prices of passive consumers differ considerably among the four Nordic countries. > Danish regulated prices compare well with unregulated prices in the other countries. > Passive consumers in Finland have low prices compared with the other countries.

How Does Pricing of Day-ahead Electricity Market Affect Put Option Pricing?

Directory of Open Access Journals (Sweden)

H. Raouf Sheybani

2016-09-01

Full Text Available In this paper, impacts of day-ahead market pricing on behavior of producers and consumers in option and day-ahead markets and on option pricing are studied. To this end, two comprehensive equilibrium models for joint put option and day-ahead markets under pay-as-bid and uniform pricing in day-ahead market are presented, respectively. Interaction between put option and day-ahead markets, uncertainty in fuel price, day-ahead market pricing, and elasticity of consumers to strike price, premium price, and day-ahead price are taken into account in these models. By applying the presented models to a test system impact of day-ahead market pricing on equilibrium of joint put option and day-ahead markets are studied.

Impact of a targeted direct marketing price promotion intervention (Buywell) on food-purchasing behaviour by low income consumers: a randomised controlled trial.

Science.gov (United States)

Stead, M; MacKintosh, A M; Findlay, A; Sparks, L; Anderson, A S; Barton, K; Eadie, D

2017-08-01

Price promotions are a promising intervention for encouraging healthier food purchasing. We aimed to assess the impact of a targeted direct marketing price promotion combined with healthy eating advice and recipe suggestions on the purchase of selected healthier foods by low income consumers. We conducted a randomised controlled trial (n = 53 367) of a direct marketing price promotion (Buywell) combined with healthy eating advice and recipe suggestions for low income consumers identified as 'less healthy' shoppers. Impact was assessed using electronic point of sale data for UK low income shoppers before, during and after the promotion. The proportion of customers buying promoted products in the intervention month increased by between 1.4% and 2.8% for four of the five products. There was significantly higher uptake in the promotion month (P marketing price promotions combined with healthy eating advice and recipe suggestions targeted at low income consumers are feasible and can have a modest impact on short-term food-purchasing behaviour, although further approaches are needed to help sustain these changes. © 2017 The British Dietetic Association Ltd.

Potential impacts of electricity price changes on price formation in the economy: a social accounting matrix price modeling analysis for Turkey

International Nuclear Information System (INIS)

Akkemik, K. Ali

2011-01-01

Recent reforms in the Turkish electricity sector since 2001 aim to introduce a tariff system that reflects costs. This is expected to affect the production and consumer prices of electricity. The changes in electricity prices are then reflected in production costs in other segments of the economy. Subsequently, producer and consumer prices will be affected. The potential impact of the changes in electricity prices that the ongoing electricity reforms in Turkey will bring about may have important implications on the price formation in economic activities and the cost of living for households. This paper evaluates the potential impacts of changes in electricity prices from a social accounting matrix (SAM) price modeling perspective. It is found that based on the estimated price multipliers that prices in the energy-producing sectors, mining, and iron and steel manufacturing sectors would be affected more severely than the remaining sectors of the economy. Consumer prices are affected slightly less than producer prices. - Research Highlights: → The impact of electricity generation costs on prices in other sectors is modeled. → A micro-SAM emphasizing electricity supply is constructed using 2002 I-O tables. → Energy, mining, and steel sectors are more responsive to electricity costs. → Living costs are less responsive to electricity cost changes than producer prices.

3 CFR 8347 - Proclamation 8347 of February 27, 2009. National Consumer Protection Week, 2009

Science.gov (United States)

2010-01-01

... Protection Week, “Nuts & Bolts: Tools for Today’s Economy,” focuses on the basic information consumers need... Consumer Protection Week, 2009 8347 Proclamation 8347 Presidential Documents Proclamations Proclamation 8347 of February 27, 2009 Proc. 8347 National Consumer Protection Week, 2009By the President of the...

Domestic Price, (Expected) Foreign Price, and Travel Spending by Canadians in the United States

OpenAIRE

Jan Vilasuso; Fredric C. Menz

1998-01-01

In this paper, the authors develop and test a model to explain travel expenditures in the United States by Canadians. The model examines a consumer's choice problem where income is allocated between domestic and foreign consumption. Consumers do not know the foreign price level and base their spending in part on expected foreign price. In addition to expected foreign price, domestic price, exchange rates, income, and foreign price uncertainty influence travel spending. Empirically, each deter...

Who is exposed to gas prices? How gasoline prices affect automobile manufacturers and dealerships

OpenAIRE

Silva-Risso, Jorge; Zettelmeyer, Florian; Busse, Meghan R.; Knittel, Christopher Roland

2016-01-01

Many consumers are keenly aware of gasoline prices, and consumer responses to gasoline prices have been well studied. In this paper, by contrast, we investigate how gasoline prices affect the automobile industry: manufacturers and dealerships. We estimate how changes in gasoline prices affect equilibrium prices and sales of both new and used vehicles of different fuel economies. We investigate the implications of these effects for individual auto manufacturers, taking into account differences...

Who is exposed to gas prices? How gasoline prices affect automobile manufacturers and dealerships

OpenAIRE

Busse, Meghan R.; Kittel, Christopher R.; Zettelmeyer, Florian

2012-01-01

Many consumers are keenly aware of gasoline prices, and consumer responses to gasoline prices have been well studied. In this paper, by contrast, we investigate how gasoline prices affect the automobile industry: manufacturers and dealerships. We estimate how changes in gasoline prices affect equilibrium prices and sales of both new and used vehicles of different fuel economies. We investigate the implications of these effects for individual auto manufacturers, taking into account differences...

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

Science.gov (United States)

Puig-Junoy, Jaume

2012-11-01

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

77 FR 51706 - Transportation of Household Goods in Interstate Commerce; Consumer Protection Regulations...

Science.gov (United States)

2012-08-27

... waiver of receipt of printed copies of consumer protection materials. The direct final rule harmonized... receipt of the consumer protection publications ``Your Rights and Responsibilities When You Move,'' and... No. FMCSA-2011-0313] RIN 2126-AB41 Transportation of Household Goods in Interstate Commerce; Consumer...

77 FR 36932 - Transportation of Household Goods in Interstate Commerce; Consumer Protection Regulations

Science.gov (United States)

2012-06-20

... use of energy. List of Subjects in 49 CFR Part 375 Advertising, Arbitration, Consumer protection...--TRANSPORTATION OF HOUSEHOLD GOODS IN INTERSTATE COMMERCE; CONSUMER PROTECTION REGULATIONS 0 1. The authority... No. FMCSA-2012-0119] RIN 2126-AB52 Transportation of Household Goods in Interstate Commerce; Consumer...

Competitive nonlinear pricing and bundling

OpenAIRE

Armstrong, Mark; Vickers, John

2006-01-01

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

Nutrition labeling and value size pricing at fast-food restaurants: a consumer perspective.

Science.gov (United States)

O'Dougherty, Maureen; Harnack, Lisa J; French, Simone A; Story, Mary; Oakes, J Michael; Jeffery, Robert W

2006-01-01

This pilot study examined nutrition-related attitudes that may affect food choices at fast-food restaurants, including consumer attitudes toward nutrition labeling of fast foods and elimination of value size pricing. A convenience sample of 79 fast-food restaurant patrons aged 16 and above (78.5% white, 55% female, mean age 41.2 [17.1]) selected meals from fast-food restaurant menus that varied as to whether nutrition information was provided and value pricing included and completed a survey and interview on nutrition-related attitudes. Only 57.9% of participants rated nutrition as important when buying fast food. Almost two thirds (62%) supported a law requiring nutrition labeling on restaurant menus. One third (34%) supported a law requiring restaurants to offer lower prices on smaller instead of bigger-sized portions. This convenience sample of fast-food patrons supported nutrition labels on menus. More research is needed with larger samples on whether point-of-purchase nutrition labeling at fast-food restaurants raises perceived importance of nutrition when eating out.

In the Name of Effective Consumer Protection and Public Policy!

DEFF Research Database (Denmark)

Sørensen, Marie Jull

2016-01-01

I. The CJEU has established that under certain circumstances national courts have an obligation, ex officio, to apply specific consumer protection provisions. This article presents a model derived from the argumentation for this obligation in CJEU case law. The model consists of four steps...... that include the specific ideas behind consumer protection provisions as well as the interaction between the principle of effectiveness and principle of equivalence. It is found that the principle of effectiveness is stretched very long and is often not set aside by the “rule of reason”. It is also found...... that the CJEU is open to the idea of regarding consumer protection provisions as (EU) public policy rules which seems to challenge the traditional principle of equivalence. Based on the findings, the author elaborates on the concept of an European public policy doctrine....

Real-time Pricing in Power Markets

DEFF Research Database (Denmark)

Boom, Anette; Schwenen, Sebastian

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

Real-time Pricing in Power Markets

DEFF Research Database (Denmark)

Boom, Anette; Schwenen, Sebastian

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

Nonlinear Pricing in Energy and Environmental Markets

Science.gov (United States)

Ito, Koichiro

This dissertation consists of three empirical studies on nonlinear pricing in energy and environmental markets. The first investigates how consumers respond to multi-tier nonlinear price schedules for residential electricity. Chapter 2 asks a similar research question for residential water pricing. Finally, I examine the effect of nonlinear financial rewards for energy conservation by applying a regression discontinuity design to a large-scale electricity rebate program that was implemented in California. Economic theory generally assumes that consumers respond to marginal prices when making economic decisions, but this assumption may not hold for complex price schedules. The chapter "Do Consumers Respond to Marginal or Average Price? Evidence from Nonlinear Electricity Pricing" provides empirical evidence that consumers respond to average price rather than marginal price when faced with nonlinear electricity price schedules. Nonlinear price schedules, such as progressive income tax rates and multi-tier electricity prices, complicate economic decisions by creating multiple marginal prices for the same good. Evidence from laboratory experiments suggests that consumers facing such price schedules may respond to average price as a heuristic. I empirically test this prediction using field data by exploiting price variation across a spatial discontinuity in electric utility service areas. The territory border of two electric utilities lies within several city boundaries in southern California. As a result, nearly identical households experience substantially different nonlinear electricity price schedules. Using monthly household-level panel data from 1999 to 2008, I find strong evidence that consumers respond to average price rather than marginal or expected marginal price. I show that even though this sub-optimizing behavior has a minimal impact on individual welfare, it can critically alter the policy implications of nonlinear pricing. The second chapter " How Do

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

Science.gov (United States)

Puig-Junoy, Jaume

2010-01-01

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

Determinants of agro-food price changes in Slovenia

OpenAIRE

Gričar, Sergej; Bojnec, Štefan

2013-01-01

This paper investigates the impacts of the current economic developments, the Euro adoption, and input prices on the consumer food prices. The focus of the analysis is on the consumer food price developments during the Slovenian adjustments towards the European Union membership, the Euro adoption by the followed increased in consumer prices, and the current economic and financial conditions. The empirical analysis on the determinants of the consumer food prices is based on the monthly statist...

78 FR 26101 - Advisory Committee for Aviation Consumer Protection

Science.gov (United States)

2013-05-03

.... Attendance is open to the public up to the room's capacity; however, since access to the FAA headquarters...) 894-6529, Centra Technology, Inc., [email protected] . For other information please contact... and enforcement initiatives affecting consumer protection in air travel. The meeting will also address...

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

Electricity consumers under the state and the private sector: comparing the price performance of the French and UK electricity industries 1990-2000

International Nuclear Information System (INIS)

Percebois, Jacques; Wright, Philip

2001-01-01

Particularly because a preoccupation with process has tended to dominate the debate about electricity privatisation and liberalisation, this paper focuses on price outcomes by comparing the relative price performance of the French and UK electricity industries between 1990 and 2000. The main conclusion is that in 1990 the state-owned French electricity industry was performing better for most consumers than the state-owned UK industry, and a decade later it was still doing so with respect to the privately-owned UK industry. While this conclusion could be qualified by saying that, heavily prompted or assisted by the Regulator, the UK privately-owned industry has shown itself capable of achieving faster reductions in prices to close the gap between itself and the French, this achievement has been concentrated in the industrial market and even there the very significant gains were mainly restricted to the very largest consumers. In the context of the European Union the UK is shown to have performed relatively poorly for the smallest domestic consumers and, while both countries did much better in the rankings of industrial prices, they were still a long way behind the top performers. (Author)

The Role of Accreditation in Consumer Protection.

Science.gov (United States)

Warner, W. Keith; Andersen, Kay J.

1982-01-01

Upper-level college administrators in the Western accreditation region were surveyed about how well the Western Association of Schools and Colleges (WASC) served its constituency. Questions concerned consumer protection as an objective of accreditation, emphasis on disseminating information about the accreditation process, and potential policy…

Sunscreen Product Performance and Other Determinants of Consumer Preferences.

Science.gov (United States)

Xu, Shuai; Kwa, Michael; Agarwal, Ashwin; Rademaker, Alfred; Kundu, Roopal V

2016-08-01

Sunscreen use is a modifiable behavior that can help reduce the risk for skin cancer, prevent sunburns, mitigate photoaging, and treat photosensitive dermatoses. A better understanding of consumer sunscreen preferences would inform dermatologists in their own recommendations. To determine the characteristics and the most commonly cited positive and negative features of highly rated sunscreens described by consumers. The top 1 percentile of sunscreen products on Amazon.com as of December 2015 was selected according to average consumer review (≥4 stars) and the highest number of consumer reviews. Descriptive data for each product were collected from the product page and manufacturer claims. The top 5 "most helpful" reviews (positive and critical) were analyzed and coded by a consensus qualitative coding scheme, which included positive and negative descriptors in 6 major categories according to consumer comments: affordability, cosmetic elegance, separate ratings, product ingredients, product performance, and skin compatibility. The Kruskal-Wallis test was performed to determine whether characteristics of each product (eg, American Academy of Dermatology [AAD] criteria, sun protection factor [SPF], or vehicle) could be used to predict price per ounce. The number (percentage) of comments categorized by major themes and subthemes was determined. Illustrative consumer comments were also collected. There were 6500 products categorized as sunscreens in the Amazon.com, online catalog. Of the 65 products evaluated, the median price per ounce was $3.32 (range, $0.68-$23.47). Of products, 40% (26 of 65) did not adhere to AAD guidelines (broad spectrum, SPF ≥30, and water resistant) for sunscreens. Vehicles, AAD, and sunscreen type predicted a higher price per ounce. Cosmetic elegance was the most cited positive feature (198 of 325 [61%] comments) followed by product performance (146 of 325 [45%] comments) and skin type compatibility (78 of 325 [24%] comments). In this

THE EFFECTS OF PRICE AND INCOMES ON CONSUMER DEMAND

Directory of Open Access Journals (Sweden)

Adrian Tănase

2012-12-01

Full Text Available The complexity of consumption can only be explained by identifying and analysing all the factors acting upon the carrier of demand, and in a given time and space, they have a higher or a lower importance, which makes it impossible to find a hierarchy. However, in societies characterized by a low standard of living, prices and incomes have a strong impact on consumer behaviour. Consequently, this paper approaches one of the most stringent issues, which interest specialists, governing bodies, mass-media and, last but not least, population. In the entire paper we analyse the population’s consumption, i.e. food, non-food products and services, by categories of households, from the economic, statistic and sociologic viewpoints. The paper ends with a brief presentation of conclusions and suggestions regarding the analysis and improvement of population’s consumption.

14 CFR 374.3 - Compliance with the Consumer Credit Protection Act and regulations.

Science.gov (United States)

2010-01-01

... requirements of the Consumer Credit Protection Act, 15 U.S.C. 1601-1693r. Any violation of the following... PROTECTION ACT WITH RESPECT TO AIR CARRIERS AND FOREIGN AIR CARRIERS § 374.3 Compliance with the Consumer... 14 Aeronautics and Space 4 2010-01-01 2010-01-01 false Compliance with the Consumer Credit...

Tourism law: from traveller to consumer

Directory of Open Access Journals (Sweden)

Oscar Casanovas Ibáñez

2016-09-01

Full Text Available The law on tourism – “tourism law” for some authors – is the instrument that has been used to turn the tourist into a consumer. Travellers are increasingly aware of the rights they can exercise. Incorporating the regulation of combined travel contracts (separate tourist services sold for an overall price into the body of consumer regulation and air passenger protection has made a definitive contribution to establishing this condition. Tourist contracts involving consumers have ended up in the courts, which have already had the opportunity to interpret the regulations and orient them towards the most protectionist positions for consumers. With the addition of new consumption habits and new types of contracting the future of this field looks far from static.

Competition, regulation, and pricing behavior in the Spanish retail gasoline market

OpenAIRE

Contín Pilart, Ignacio; Correljé, Aad F.; Palacios, María Blanca

2006-01-01

The restructuring of the Spanish oil industry produced a highly concentrated oligopoly in the retail gasoline market. In June 1990 the Spanish government introduced a system of ceiling price regulation in order to ensure that "liberalization" was accompanied by adequate consumer protection. This paper examines the pricing behavior of the retail gasoline market using multivariate error correction models over the period January 1993 (abolishment of the state monopoly)-December 2004. The results...

THE INFLUENCE OF PRICES AND INCOME ON CONSUMER BEHAVIOUR OF THE POPULATION. THE CASE OF ROMANIA

Directory of Open Access Journals (Sweden)

Anghelina Andrei

2012-12-01

Full Text Available The recession influenced the consummers in their biggest concern – their income. In the same time the recession changed some important trends in consume. In this paperwork the authors intend to determine how strong the influence of prices and incomes of the population is on the consumer behavior, especially in Romania. Also the author want to present the case study of Romania concerning the recession of economy and some new aspects of consumer behavior. There is a strong conexion between the income and consume and the time of recession show it in the best way. In this way the author did some research on the market and by some analyses in a statistical editor we conclude that there is a strong determination in the consumer behavior by the income of the population especially in Romania, a country with a developing economy.

The Influence of Advertisement, Perceived Price, and Brand Image on Consumer Buying Decision to Asus Mobile Phone

OpenAIRE

Tumewu, Ferdinand J.; Ruslim, Archi C.

2015-01-01

Buying decision is the stage in which consumers make the decision or take an action whether to purchase a certain product or not. The purpose of this research is to analyze the simultaneous and partial effect of Advertising, Perceived Price and Brand Images on Consumer Buying Decision. The populations of this research are people who use ASUS smartphone with the sample size as many as 40 respondents. This research uses quantitative analyze by questionnaires and the Multiple Regression Analysis...

LEGAL PROTECTION FOR CONSUMER OF UNLICENCED VAPOR FROM DRUG AND FOOD SUPERVISORY AGENCY

Directory of Open Access Journals (Sweden)

Dedhi Bima Samudra

2018-04-01

Full Text Available Abstract This research begins with the number of liquid vapor that is not licensed BPOM spread in Indonesia, and there is no clear law for liquid vapor, so there is no clarity from legal protection against liquid vapor consumers who are not licensed from  BPOM. Therefore, in this research, there is the formulation of the problem as follows: Is there a legal protection against liquid vapor consumers who are not licensed from BPOM?. The purpose of this research to determine whether there is legal protection against liquid vapor consumers who are not licensed BPOM. So this research can be useful for subsequent research that has the same theme and beneficial to researchers, liquid vapor consumers and also for the government. The research method used is the normative method. Normative research methods using statute approach. The result of the research shows that there is legal protection for liquid vapor consumer who is not licensed by BPOM, which is reviewed from the Law of the Republic of Indonesia Number 36 Year on concerning the health of Article 113 paragraph (1 and Article 114, Law of the Republic of Indonesia Number 8 Year 1999 on Consumer protection Article 8 paragraph (1 c and paragraph (1 i, Regulation of the Head of the Food and Drug Supervisory Agency of the Republic of Indonesia Number 4 Year 2017 on the Supervision of the Importation of Drugs into the Territory of Indonesia Article 4 paragraph (1. Keywords: Legal Protection, Consumer, Liquid-Vapor

Heat networks in France in 2014. Heat networks: which price for the consumer?

International Nuclear Information System (INIS)

Reynaud, Didier; Gong, Zheng; Moreau, Sylvain; Bottin, Anne; Reperant, Patricia

2016-04-01

A first document publishes and comments various statistics regarding heat networks in France in 2014: distribution in terms of quantity of supplied heat, main urban units, distribution in terms of urban unit size and in terms of community type (land, isolated town, outskirts, centre town). It also indicates the types, percentages and evolution of energies consumed in these heat networks, the shares of fossil and renewable energies, and the distribution of networks in terms of energy type. Some regional data are briefly commented (energy shares in each region, number of primary housing connected to an urban heating network). This publication also indicates methodological aspects and the definitions of the main components and characteristics of a heat network. Notably based on some of these data, the second document comments the price of heat supplied in these heat networks in 2014 as these prices are not regulated and depend on agreements between clients and providers. These prices are analysed in terms of linear thermal density, of heat quantity supplied by delivery point, of sector (industry, housing, office building), of rate of renewable energy, and of operator status (public service delegation or private ownership)

Analysis of consumer behaviour when purchasing selected commodity groups concerning the effect of price, habit, discount and product characteristics

Directory of Open Access Journals (Sweden)

Jitka Poměnková

2008-01-01

Full Text Available The aim of the paper is consumer behaviour analysis when purchasing selected commodity groups concerning the effect of price, habit, discount and product characteristics. Analysis proceed from the Czech household marketing research, where 726 households were electronically questioned. As mentioned above, selected factors for the analysis were habit, products‘ characteristics, price and discount actions.Primary aim is to measure the correspondence of selected factors influence on consumer behaviour during purchase decision making process of selected commodity groups. Interpretation is based on two-tier evaluation. First level represents commodity groups distinction by the character of goods and subsequent evaluation of goods characteristics correspondence in accordance with each influencing factor. Second one represents behaviour of commodity group in cross-section of selected factors. For consumer behaviour analysis chi-square test was used. Before its application the data set (responses was divided according to the ten-point scale into three interval’ groups.

Ordered Consumer Search

OpenAIRE

Armstrong, Mark

2016-01-01

The paper discusses situations in which consumers search through their options in a deliberate order, in contrast to more familiar models with random search. Topics include: network effects (consumers may be better off following the same search order as other consumers); the use of price and non-price advertising to direct search; the impact of consumers starting a new search with their previous supplier; the incentive sellers have to merge or co-locate with other sellers; and the incentive a...

The protection of a consumer during the providing of banking services in the Czech Republic

OpenAIRE

Haasová, Eva

2010-01-01

The Bachelor's thesis describes and analyses the protection of a bank client. In the beginning I discuss the necessity of the institution of consumer's protection define the basic terms and describe the structure of the system of consumer's protection. Then, I depict the basic elements of the consumer's protection, the requirements to banks, the duty to provide information, the protection of personal data, the bank secret and the deposit insurance. After these I concentrate on the analysis of...

Consumer responses to time varying prices for electricity

International Nuclear Information System (INIS)

Thorsnes, Paul; Williams, John; Lawson, Rob

2012-01-01

We report new experimental evidence of the household response to weekday differentials in peak and off-peak electricity prices. The data come from Auckland, New Zealand, where peak residential electricity consumption occurs in winter for heating. Peak/off-peak price differentials ranged over four randomly selected groups from 1.0 to 3.5. On average, there was no response except in winter. In winter, participant households reduced electricity consumption by at least 10%, took advantage of lower off-peak prices but did not respond to the peak price differentials. Response varied with house and household size, time spent away from home, and whether water was heated with electricity. - Highlights: ► Seasonal effects in winter. ► High conservation effect from information. ► Higher peak prices no effect on peak use. ► Low off-peak prices encourage less conservation off-peak.

INTERNATIONAL PRACTICE OF INSURANCE SERVICES CONSUMER PROTECTION

Directory of Open Access Journals (Sweden)

Irina P. Khominitch

2014-01-01

Full Text Available The article considers the current compensationand guarantee mechanisms of policyholders’protection in the context of reforms inregulation and supervision of insurancecompanies. Models and fi nancing sourcesof insurance services consumer protectionfunds, their features in different countries as well as order and size of compensationpayments are identified in this article.

77 FR 48460 - Transportation of Household Goods in Interstate Commerce; Consumer Protection Regulations

Science.gov (United States)

2012-08-14

..., direct final rule concerning household goods consumer protection. The direct final rule amended the... No. FMCSA-2012-0119] RIN 2126-AB52 Transportation of Household Goods in Interstate Commerce; Consumer Protection Regulations AGENCY: Federal Motor Carrier Safety Administration (FMCSA), DOT. ACTION: Direct final...

Who speaks for the health consumer?

Science.gov (United States)

Fox, Michael H

2008-08-01

Although consumer-directed health care has become a fashionable concept in recent years, stories abound asking whether the so-called free market in health care can provide adequate access to quality health care at an affordable price. In spite of these concerns, consumer-directed health care continues as the face of legitimacy behind an industry-driven campaign to limit regulatory protections of the consumer in the market and encourage the growth of health insurance products that place spending options closer to the consumer, whether or not these options are available, affordable, or easily understood. Understanding whether this empowerment is real begins with first asking what it now means to be a health consumer. This commentary offers perspective on the dilemma faced by millions of Americans in navigating our health care system under the assumption that market-driven choices foster consumer empowerment in health care, and suggests approaches for expanding the true consumer voice.

Oligopolistic Competition in Price and Quality

NARCIS (Netherlands)

A. Dubovik (Andrei); M.C.W. Janssen (Maarten)

2008-01-01

textabstractWe consider an oligopolistic market where firms compete in price and quality and where consumers are heterogeneous in knowledge: some consumers know both the prices and quality of the products offered, some know only the prices and some know neither. We show that two types of signalling

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.

The price facade: Symbolic and behavioural price cues in service environments

NARCIS (Netherlands)

Verhoeven, J.W.M.; van Rompay, Thomas Johannes Lucas; Pruyn, Adriaan T.H.

2009-01-01

Although the role of price expectations in predicting consumer behavior has been widely acknowledged, little is known about the way in which price expectations depend on environmental elements in hospitality settings. We propose that restaurant guests base price expectations on (1) perceptions of

Financial consumer protection and customer satisfaction. A relationship study by using factor analysis and discriminant analysis

Directory of Open Access Journals (Sweden)

Marimuthu SELVAKUMAR

2015-11-01

Full Text Available This paper tries to make an attempt to study the relationship between the financial consumer protection and customer satisfaction by using factor analysis and discriminant analysis. The main objectives of the study are to analyze the financial consumer protection in commercial banks, to examine the customer satisfaction of commercial banks and to identify the factors of financial consumer protection lead customer satisfaction. There are many research work carried out on financial consumer protection in financial literacy, but the identification of factors which lead the financial consumer protection and the relationship between financial consumer protection and the customer satisfaction is very important, Particularly for banks to improve its quality and increase the customer satisfaction. Therefore this study is carried out with the aim of identifying the factors of financial consumer protection and its influence on customer satisfaction. This study is both descriptive and analytical in nature. It covers both primary and secondary data. The primary data has been collected from the customers of commercial banks using pre-tested interview schedule and the secondary data has been collected from standard books, journals, magazines, websites and so on.

Energy Report. State of the art in the market for consumers. First six months of 2011

International Nuclear Information System (INIS)

2011-09-01

Based on a number of key indicators, the market outcomes and market structure of the consumer market for energy are mapped, including the behavior of consumers. This report is limited to displaying a number of figures and facts, relating to the demand for products, prices, concentrations, switching, satisfaction and confidence of consumers in the energy market and information from ConsuWijzer, a Dutch governmental consumer protection organization. [nl

Limits to growth in organic sales : price elasticity of consumer demand for organic food in Dutch supermarkets

NARCIS (Netherlands)

Bunte, F.H.J.; Galen, van M.A.; Kuiper, W.E.; Bakker, J.H.

2007-01-01

This report determines how sensitive consumer demand for organic products is to changes in the prices of organic products. The report is based on the analysis of scanner data for supermarkets in ten Dutch communities. In the framework of the analysis, an experiment has been performed in which the

Marketing and pricing strategies of online pharmacies.

Science.gov (United States)

Levaggi, Rosella; Orizio, Grazia; Domenighini, Serena; Bressanelli, Maura; Schulz, Peter J; Zani, Claudia; Caimi, Luigi; Gelatti, Umberto

2009-10-01

Internet and e-commerce have profoundly changed society, the economy, and the world of health care. The web offers opportunities to improve health, but it may also represent a big health hazard since it is a basically unregulated market with very low consumer protection. In this paper we analyze marketing and pricing strategies of online pharmacies (OPs). Our analysis shows that OPs use strategies that would be more suitable for a commodity market than for drugs. These strategies differentiate according to variety (brand or generic), quality, quantity, and target group. OPs are well aware that the vacuum in the legislation allows them to reach a target of consumers that pharmacies cannot normally reach, such as those who would like to use the drug without consulting a physician (or, even worse, against the physician's advice). In this case, they usually charge a higher price, reassure the users by minimizing on the side effects, and induce them to bulk purchase through sensible price discounts. This analysis suggests that the selling of drugs via the Internet can turn into a "public health risk", as has been pointed out by the US Food and Drug Administration.

Business cycles and natural gas prices

International Nuclear Information System (INIS)

Apostolos, S.; Asghar, S.

2005-01-01

This paper investigates the basic stylised facts of natural gas price movements using data for the period that natural gas has been traded on an organised exchange and the methodology suggested by Kydland and Prescott (1990). Our results indicate that natural gas prices are procyclical and lag the cycle of industrial production. Moreover, natural gas prices are positively contemporaneously correlated with United States consumer prices and lead the cycle of consumer prices, raising the possibility that natural gas prices might be a useful guide for US monetary policy, like crude oil prices are, possibly serving as an important indicator variable. (author)

Awareness of Consumer Protection Act among dental health professionals in dental schools of Ghaziabad, India.

Science.gov (United States)

Prasad, Sumanth; Menon, Ipseeta; Dhingra, Chandan; Anand, Richa

2013-12-01

The study aimed to assess the awareness of the Consumer Protection Act among dental health professionals in dental schools of Ghaziabad, India. A cross-sectional questionnaire survey was carried out on dental health professionals in dental schools of Ghaziabad, India. A total of 348 dental health professionals (170 males and 178 females) were surveyed, out of which 116 were MDS faculty, 45 were BDS faculty and 187 were pursuing post graduation. The questionnaire comprised of 24 questions about the awareness of consumer protection act. Statistical analysis was done using Chi-square test, student's t test and ANOVA. A total of 84.8% (n=295) reported to be aware of consumer protection act. Amongst them, MDS faculty showed more awareness as compared to BDS faculty and those pursuing post-graduation. Considering the present scenario, MDS faculty dental professionals have more awareness of consumer protection act compared to other dental professionals. So, we must upgrade our knowledge on consumer protection act at all levels of our profession and change our attitude by inculcating a practice to spread the message of consumer protection act for delivering quality dental care.

The impact of the Consumer Protection Act on pharmacists.

Science.gov (United States)

du Toit, K; van Eeden, E

2014-11-01

The Consumer Protection Act of 2008 has had far-reaching consequences for suppliers of goods and services in South Africa. The implementation of the Act has important implications for all suppliers who enter into 'consumer transactions.' This article aims to stimulate awareness of the legal consequences of the Act arising from day-to-day situations occurring in the pharmacy, and to highlight the compliance obligations that the Act creates for pharmacists.

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

The effectiveness of the European agricultural quality policy: a price analysis

Energy Technology Data Exchange (ETDEWEB)

Bardaji, I.; Iraizoz, B.; Rapun, M.

2009-07-01

The European rural development policy, the second pillar of the Common Agricultural Policy, is currently playing an increasing role. One of its key instruments is the support for quality standards through Protected Geographical Indications (PGI). The analysis presented in this article investigates prices for two varieties of beef (PGI and non- PGI). The research setting is a specific area in northern Spain, where Ternera de Navarra (Navarra beef) is produced. The results show that quality production systems achieve higher and more stable prices in the long term. Another major point emerging from the analysis, given the nature of the beef production sector, is that the PGI product is better able to stand up to consumer confidence crises, such as that triggered by the bovine spongiform encephalopathy outbreak. Additional key words: prices, protected geographical indication, rural development. (Author) 40 refs.

Consumer Choice Between Hospital-Based and Freestanding Facilities for Arthroscopy: Impact on Prices, Spending, and Surgical Complications.

Science.gov (United States)

Robinson, James C; Brown, Timothy T; Whaley, Christopher; Bozic, Kevin J

2015-09-16

Hospital-based outpatient departments traditionally charge higher prices for ambulatory procedures, compared with freestanding surgery centers. Under emerging reference-based benefit designs, insurers establish a contribution limit that they will pay, requiring the patient to pay the difference between that contribution limit and the actual price charged by the facility. The purpose of this study was to evaluate the impact of reference-based benefits on consumer choices, facility prices, employer spending, and surgical outcomes for orthopaedic procedures performed at ambulatory surgery centers. We obtained data on 3962 patients covered by the California Public Employees' Retirement System (CalPERS) who underwent arthroscopy of the knee or shoulder in the three years prior to the implementation of reference-based benefits in January 2012 and on 2505 patients covered by CalPERS who underwent arthroscopy in the two years after implementation. Control group data were obtained on 57,791 patients who underwent arthroscopy and were not subject to reference-based benefits. The impact of reference-based benefits on consumer choices between hospital-based and freestanding facilities, facility prices, employer spending, and surgical complications was assessed with use of difference-in-differences multivariable regressions to adjust for patient demographic characteristics, comorbidities, and geographic location. By the second year of the program, the shift to reference-based benefits was associated with an increase in the utilization of freestanding ambulatory surgery centers by 14.3 percentage points (95% confidence interval, 8.1 to 20.5 percentage points) for knee arthroscopy and by 9.9 percentage points (95% confidence interval, 3.2 to 16.7 percentage points) for shoulder arthroscopy and a corresponding decrease in the use of hospital-based facilities. The mean price paid by CalPERS fell by 17.6% (95% confidence interval, -24.9% to -9.6%) for knee procedures and by 17

THE EVOLUTION OF CONSUMER PRICE INDEX (CPI AND INFLATION RATE IN ROMANIA IN JANUARY 2000 - DECEMBER 2010

Directory of Open Access Journals (Sweden)

ANIELA BĂLĂCESCU

2011-06-01

Full Text Available In the analysis of economic stability an important part is owned by consumer prices. The present study is devoted to an analysis of the evolution of CPI and inflation rate in the Rumanian economy. The analysis uses annual and monthly series for the period January 2000 - December 2010.

Information or prices, which is most powerful in increasing consumer demand for organic vegetables?

DEFF Research Database (Denmark)

Smed, Sinne; Andersen, Laura Mørch

2012-01-01

of consuming conventional vegetables on demand for organic foods for six different segments of Danish households. Three of these segments are positive towards organics whereas the remaining three segments are negative or indifferent. Using the double hurdle model we estimate partial effects of both directly...... and indirectly obtained information as well as prices. The results show, that there are larger effects of information for households where the information is in accordance with initial knowledge and attitudes, hence the positive segments react more to information whereas the negative segments react more......Based on a unique and very detailed panel dataset covering consumption of organically and conventionally produced vegetables in the years 2005 - 2007, we examine the effects of information about positive health effects of consuming organic vegetables and information about negative health effects...

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...

Tiered gasoline pricing: A personal carbon trading perspective

International Nuclear Information System (INIS)

Li, Yao; Fan, Jin; Zhao, Dingtao; Wu, Yanrui; Li, Jun

2016-01-01

This paper proffers a tiered gasoline pricing method from a personal carbon trading perspective. An optimization model of personal carbon trading is proposed, and then, an equilibrium carbon price is derived according to the market clearing condition. Based on the derived equilibrium carbon price, this paper proposes a calculation method of tiered gasoline pricing. Then, sensitivity analyses and consumers' surplus analyses are conducted. It can be shown that a rise in gasoline price or a more generous allowance allocation would incur a decrease in the equilibrium carbon price, making the first tiered price higher, but the second tiered price lower. It is further verified that the proposed tiered pricing method is progressive because it would relieve the pressure of the low-income groups who consume less gasoline while imposing a greater burden on the high-income groups who consume more gasoline. Based on these results, implications, limitations and suggestions for future studies are provided. - Highlights: • Tiered gasoline pricing is calculated from the perspective of PCT. • Consumers would be burdened with different actual gasoline costs. • A specific example is provided to illustrate the calculation of TGP. • The tiered pricing mechanism is a progressive system.

Truly costly sequential search and oligopolistic pricing

NARCIS (Netherlands)

Janssen, Maarten C W; Moraga-González, José Luis; Wildenbeest, Matthijs R.

We modify the paper of Stahl (1989) [Stahl, D.O., 1989. Oligopolistic pricing with sequential consumer search. American Economic Review 79, 700-12] by relaxing the assumption that consumers obtain the first price quotation for free. When all price quotations are costly to obtain, the unique

Assessing the Impact of Higher Oil Prices in Latin America

OpenAIRE

World Bank

2012-01-01

For some Latin American countries - especially, the oil importers in the Caribbean - rising energy prices could pose a significant threat to their current account sustainability, particularly if they are accompanied by other negative shocks. In some countries the fiscal costs associated with subsidies to protect domestic consumers have been considerable so far. Hence, a better understandin...

Peak load pricing lowers generation costs

International Nuclear Information System (INIS)

Lande, R.H.

1980-01-01

Before a utility implements peak load pricing for different classes of consumers, the costs and the benefits should be compared. The methodology described enables a utility to determine whether peak load pricing should be introduced for specific users. Cost-benefit analyses for domestic consumers and commercial/industrial consumers, showing break-even points are presented. (author)

Consumer risk perceptions toward agricultural biotechnology, self-protection, and food demand: the case of milk in the United States.

Science.gov (United States)

Zepeda, Lydia; Douthitt, Robin; You, So-Ye

2003-10-01

This study is an econometric systems approach to modeling the factors and linkages affecting risk perceptions toward agricultural biotechnology, self-protection actions, and food demand. This model is applied to milk in the United States, but it can be adapted to other products as well as other categories of risk perceptions. The contribution of this formulation is the ability to examine how explanatory factors influence risk perceptions and whether they translate into behavior and ultimately what impact this has on aggregate markets. Hadden's outrage factors on heightening risk perceptions are among the factors examined. In particular, the article examines the role of labeling as a means of permitting informed consent to mitigate outrage factors. The effects of attitudinal, economic, and demographic factors on risk perceptions are also explored, as well as the linkage between risk perceptions, consumer behavior, and food demand. Because risk perceptions and self-protection actions are categorical variables and demand is a continuous variable, the model is estimated as a two-stage mixed system with a covariance correction procedure suggested by Amemiya. The findings indicate that it is the availability of labeling, not the price difference, between that labeled milk and milk produced with recombinant bovine Somatotropin (rbST) that significantly affects consumer's selection of rbST-free milk. The results indicate that greater availability of labeled milk would not only significantly increase the proportion of consumers who purchased labeled milk, its availability would also reduce the perception of risk associated with rbST, whether consumers purchase it or not. In other words, availability of rbST-free milk translates into lower risk perceptions toward milk produced with rbST.

An island apart? Risks and prices in the Australian cryptomarket drug trade.

Science.gov (United States)

Cunliffe, Jack; Martin, James; Décary-Hétu, David; Aldridge, Judith

2017-12-01

Australia has a reputation as an anomaly with regard to cryptomarket drug trading, with seemingly disproportionately high levels of activity given its relatively small size, high prices and anecdotal accounts of it being a destination where many foreign-based vendors will not sell. This paper aims to investigate these claims from a risk and prices perspective. By analysing data for over 60,000 drug products available for purchase from eight cryptomarkets in January 2016 this work builds a descriptive picture of the Australian online market in comparison to the rest of the world, before moving onto analyse the prices of drugs available to Australian consumers, both online and though conventional drug supply routes. Results show that the Australian online illicit drugs market is of considerable size, internally isolated and with methamphetamine sales being particularly large by comparison to other countries. Australian cryptomarket vendors sell drugs at significantly higher prices than those listed by their foreign counterparts. Online prices are however broadly comparable to street prices, with the exception of methamphetamine where prices appear to be much lower online. These findings indicate that the perceived stringency of Australian border protection inadvertently increases the competitiveness and local market share of domestic cryptomarket vendors via a consumer side 'risk tariff', challenging the traditionally vendor-oriented drugs risk and prices framework. Copyright © 2017 Elsevier B.V. All rights reserved.

76 FR 12817 - National Consumer Protection Week, 2011

Science.gov (United States)

2011-03-09

..., from buying a home or car to paying off a loan or using a credit card. Consumer education is vital to... Week has encouraged Americans to make better-informed decisions about saving, buying, borrowing, and... information, families can both strengthen the economy and protect themselves from fraudulent behavior. For...

EAACI Food Allergy and Anaphylaxis Guidelines. Protecting consumers with food allergies

DEFF Research Database (Denmark)

Muraro, A; Hoffmann-Sommergruber, K; Holzhauser, T

2014-01-01

production. There is an urgent requirement for effective communication between health care professionals, patient organizations, food industry representatives and regulators to develop a better approach to protecting consumers with food allergies. This article is protected by copyright. All rights reserved....... and expectations of the food allergic consumer in that context. There is a general duty of care on the food industry and obligations in European Union legislation to reduce and manage the presence of allergens alongside other food hazards. Current evidence enables quantification of allergen reference doses used...

Optimal Advance Selling Strategy under Price Commitment

OpenAIRE

Chenhang Zeng

2012-01-01

This paper considers a two-period model with experienced consumers and inexperienced consumers. The retailer determines both advance selling price and regular selling price at the beginning of the first period. I show that advance selling weekly dominates no advance selling, and the optimal advance selling price may be at a discount, at a premium or at the regular selling price. To help the retailer choose the optimal pricing strategy, conditions for each possible advance selling strategy to ...

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.

Consumer perception and preference for suboptimal food under the emerging practice of expiration date based pricing in supermarkets

DEFF Research Database (Denmark)

Aschemann-Witzel, Jessica

2018-01-01

Consumers have been found to majorly prefer ‘optimal’ food over ‘suboptimal’ when purchasing food. To provide an incentive for consumers to select suboptimal food and thus decrease food waste in the supply chain, expiration date based pricing is suggested and increasingly applied. However......, it is unclear which contextual, individual, and product-related factors impact consumer likelihood of choice and thus acceptance of the practice in the long run. The study aimed at exploring the effect of communicating different motives for purchase, the product being organic, familiarity with the practice......, individual preferences, and product-related factors. An online survey experiment among 842 Danish consumers realistically mimicked the current market context. Findings reveal that neither communicating budget saving or food waste avoidance nor the product being organic has an influence. However...

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

International Nuclear Information System (INIS)

Lippe, D.

2004-01-01

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

Microgrids Real-Time Pricing Based on Clustering Techniques

Directory of Open Access Journals (Sweden)

Hao Liu

2018-05-01

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

Utility shopping: are consumers ready?

International Nuclear Information System (INIS)

Barrados, A.

1999-01-01

This report provides an overview of public readiness to deal with deregulation of the electric power industry , based on an analysis of public reaction to the deregulation of the transportation, telecommunications and natural gas industries which already have taken place. The report also examines the reasons why residential consumers have reason to be wary of deregulation. These include the likelihood of slow development of the intended competition, the consequent limits on consumer choices, the possibility of increased prices, decreased quality of service and erosion of social values such as affordability and accessibility. The report concludes with a number of recommendations aimed at ensuring the existence of workable competition for residential consumers, that reliable and meaningful information is available as competition in deregulated markets gets underway, that independent sources of information are widely available, and that basic consumer protection against deceptive and borderline marketing practices, a regulatory oversight mechanism and public reporting mechanisms are in place before competition begins. 33 refs

A model for the effects of psychological pricing in Gabor-Granger price studies

NARCIS (Netherlands)

Wedel, M; Leeflang, PSH

We present a model of consumers' price sensitivity that explicitly deals with the existence of so-called psychological price levels or odd prices, i.e. prices ending in an odd number. The model is formulated in a latent class framework, in which splines are used to model utility as a function of

The Consumer Protection Act 68 of 2008 and procedural fairness in

African Journals Online (AJOL)

MJM Venter

fair. In a South African context, procedural fairness and substantive fairness are therefore of equal importance. 5. The Consumer Protection Act and procedural fairness. In the discussion below, the special ..... actually read the terms, but standardisation in presentation may make it slightly easier for a consumer to understand ...

Nonlinear Pricing to Produce Information

OpenAIRE

David J. Braden; Shmuel S. Oren

1994-01-01

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

Consumer Protection in Cyberspace

Directory of Open Access Journals (Sweden)

Oscar H. Gandy, Jr.

2011-06-01

Full Text Available This critical essay introduces the problem of discrimination enabled through the use of transaction-generated-information derived from the analysis of user behaviors within the network environment. The essay begins by describing how segments of the population that are already vulnerable become further victimized through the strategic use of discriminatory algorithms in support of identification, classification, segmentation, and targeting. In response, it evaluates a set of policy options that might be used to limit the harm and compensate the victims of these inherently dangerous technologies. Traditional approaches that stress the protection of privacy through restrictions on the collection and use of personal information are compared with alternatives based on individual and class actions under tort law, as well as more traditional regulatory approaches developed in the area of consumer products safety and environmental regulation.

99 cent: Price Points in E-Commerce

OpenAIRE

Franz Hackl; Michael E. Kummer; Rudolf Winter-Ebmer

2010-01-01

Basu (2006) argues that the prevalence of 99 cent prices in shops can be explained with rational consumers who disregard the rightmost digits of the price. This bounded rational behaviour leads to a Bertrand equi- librium with positive markups. We use data from an Austrian price com- parison site and find results highly compatible with Basu's theory. We can show that price points - in particular prices ending in 9 - are preva- lent and have significant impact on consumer demand. Moreover, the...

14 CFR 298.30 - Public disclosure of policy on consumer protection.

Science.gov (United States)

2010-01-01

... 14 Aeronautics and Space 4 2010-01-01 2010-01-01 false Public disclosure of policy on consumer protection. 298.30 Section 298.30 Aeronautics and Space OFFICE OF THE SECRETARY, DEPARTMENT OF TRANSPORTATION... Limitations and Conditions on Exemptions and Operations § 298.30 Public disclosure of policy on consumer...

The relationship between alcohol price and brand choice among underage drinkers: are the most popular alcoholic brands consumed by youth the cheapest?

Science.gov (United States)

Albers, Alison B; DeJong, William; Naimi, Timothy S; Siegel, Michael; Jernigan, David H

2014-11-01

We examined the influence of price on alcohol brand choice among underage youth. Using a national sample of 1,032 youth, ages 13-20, recruited from a national Internet panel in 2011-2012, we compared differences in mean prices between popular and unpopular brands, examined the association of price and brand popularity using logistic regression, and rank ordered the average price of top brands. Lower brand-specific prices were significantly associated with higher levels of past 30-day consumption prevalence. However, youth did not preferentially consume the cheapest brands. These findings indicate that youth have preferences for certain brands, even if those brands cost more than competing brands. Our study highlights the need for research on the impact of brand-specific alcohol marketing on underage drinking.

Reducing electricity consumption peaks with parametrised dynamic pricing strategies given maximal unit prices

NARCIS (Netherlands)

N.F. Höning (Nicolas); J.A. La Poutré (Han); F. Lopes; Z. Vale; J. Sousa; H. Coelho

2013-01-01

htmlabstractDemand response is a crucial mechanism for flattening of peak loads. For its implementation, we not only require consumers who react to price changes, but also intelligent strategies to select prices. We propose a parametrised meta-strategy for dynamic pricing and identify suitable

Effect of marketing activities, benefits, risks, confusion due to over-choice, price, quality and consumer trust on online tourism purchasing

OpenAIRE

Pappas, Nikolaos

2015-01-01

The paper focuses on website vendors and three fundamental aspects, which influence price quality and trust, the major factors that affect purchasing intentions amongst online consumers. The three fundamental aspects in question are: perceived benefits, risks and confusion due to over-choice. The purpose of the study is to examine the influence of these three aspects on consumers' trust and their online purchasing intentions, and also to evaluate their interrelationship with marketing activit...

Law Enforcement of Consumer Protection for Safe Food Packaging in The Decisions of Criminal Justice

Science.gov (United States)

Wiryani, F.; Herwastoeti; Najih, M.; Haris, A.

2017-04-01

The right to a safe food is a human rights protected by the 1945 Constitution and legislation, including the Health Act, the Consumer Protection Act and Food Act. The law governing the rights and obligations of consumers; rights, obligations and responsibilities of businesses, as well as prohibitions and sanctions for businesses that violate. Food consumers aggrieved can file a non-litigation legal action and / or litigation. Non-litigation legal efforts made through negotiation or mediation or through Consumer Dispute Resolution Body (BPSK). The litigation efforts made by filing a lawsuit for damages to the court and / or reporting the case to the criminal law enforcement. This study specifically examines the enforcement of criminal law in the judgment as a safeguard against food consumers. Sanctions provisions setting a strategic role in an effort to make the protection of consumers of food. Patterns general formulation of the maximum penalty in the third Act is not appropriate because it too gives flexibility for the judge to make a decision as low to the Defendant. Facts on society, business agent has a dominant and strong position compared with consumers of food. These favorable conditions business agent position and vice versa less give legal protection to the Consumer Food. Preferably the pattern formulation penalty of criminal acts in the field of food using a specific minimum and maximum public.

Consumer motivations toward buying local rice: The case of northern Iranian consumers.

Science.gov (United States)

Rahnama, Hassan

2017-07-01

This research had two purposes. The first aim was to identify Iranian and Non-Iranian rice consumers based on demographic characteristics and examine difference of these features with buying behaviors. The second purpose of study was to investigate consumer's motivation to buy local rice in Iran. The sample were 1500 people (men and women). The data was collected by using questionnaire based on a face-to-face survey. Chi-square, confirmatory factor analysis, and multiple linear regression were applied to assess collected data by a questionnaire survey. Regarding Iranian local rice buyers, 884 people buy local rice. Chi-square test showed that there is a significant difference between gender, having children, and marital status in buying local rice. Habitual Iranian local rice buyers include: female (51%), people who are more than 45 years old (51%), people with children (63%), people who are living urban (61%), married people (48%) and individuals that their monthly income is between 321.5 and 625 Dollars (53%). Regarding non-Iranian rice buyers, 616 people buy it. Also there is a significant difference between gender, location, marital status, and income in buying local rice. For considering consumers motivation toward buying local rice the econometrical model is used. Model had three aspects including; quality aspects (taste, good appearance), economic aspects (price, convenience, consumer's ethnocentrism), and safety aspects (health, not using pesticides and environment protection) and seven subset. The results of analysis indicated that quality aspects, economic aspects and safety aspects have positive effects on buying Iranian local rice. Also, indicative variables including; taste, good appearance, price, convenience, consumer's ethnocentrism, health, not using pesticides and environment have significant effects on buying it. Copyright © 2017 Elsevier Ltd. All rights reserved.

Your Credit Rights: An Instructional Unit on Consumer Credit Protection. Revised.

Science.gov (United States)

Jensen, Barbara J.; And Others

This instructional guide adds two new sections to the original guide published in May 1982. The guide was designed to assist educators in teaching the topics of consumer credit and consumer credit protection to secondary and postsecondary students in various economics and business courses, as well as in adult and community education courses. The…

Education and Training Needs in the Field of Consumer Protection in the Lower Danube Region

Directory of Open Access Journals (Sweden)

Vasile Dinu

2010-11-01

Full Text Available The issues of consumer rights and consumer welfare are increasingly important, especially in the current economic climate in which the ability to make informed choices represents a real advantage in consumers’ daily life. In order to make their purchases with confidence, both in their country and abroad, consumers need easy access to precise information and to professional advice. Taking into account the fact that education and training are a strategic factor for a sustainable development through contribution to human capital development, within the Romania–Bulgaria Cross-Border Cooperation Program 2007–2013, the Academy of Economic Studies in Bucharest, Romania and the D. Tsenov Academy of Economics in Svisthov, Bulgaria decided to collaborate in the field “Cooperation on human resources development – joint development of skills and knowledge”, through the development of cross-border liaisons and exchanges between the two universities. Our objective is to bring up new methods of training in the field of consumer protection in order to train and to supply the labour market with specialized experts in this field in charge with various issues regarding consumers in enterprises, in organizations in charge with elaborating consumer protection policies and in organizations in charge with market supervision and control and also in consumers’ associations. We consider that in this way we meet both consumers’ and employers’ needs because economic agents need professionals in the field as well, in order to advise them in their quest to protect the rights and interests of consumers. Also, Meglena Kuneva, the European Commissioner for Consumer Protection, noted that studies conducted at European level revealed that there is a high level of interest for recruiting qualified experts in the field of consumer protection shown by large companies, national governments, small and medium enterprises and consumers’ associations. In order to

Trademarks, consumer protection and domain names on the Internet

Directory of Open Access Journals (Sweden)

Hana Kelblová

2007-01-01

Full Text Available The article deals with current problems of the conflict of domain names on the Internet with trade marks in relation to the consumer protection. The aim of the article is to refer to ways and means of protection against of the speculative registration of a domain name. In the Czech legal order these means represent legal regulation of the unfair competition in Commercial Code, regulation of liability for damage together with the Trademarks Act.

Core Indicators of Japan's Consumer Price Index

OpenAIRE

Shigenori Shiratsuka

2006-01-01

The primary objective of the Bank of Japan (BOJ) in conducting monetary policy is to promote sustainable growth by achieving price stability. The price stability that needs to be achieved is regarded as not just short-term and temporary, but sustainable in the medium to long term, which is the common understanding among major central banks. To fulfill this mandate, the BOJ is required to identify the underlying trend of inflation by excluding various idiosyncratic disturbances from measured p...

The evolution of electricity prices in an uncertain world. Contracting and managing the price risk

International Nuclear Information System (INIS)

Vassilopoulos, Ph.; Rapin, D.

2004-01-01

With the liberalization of the electricity market, the large industrial consumers saw their electric bill changing nature. Before, this price reflected a long term negotiation with the monopoly, now it is established in a free way via wholesale markets. This evolution marks a transfer of the management of price risk from the producer towards the consumer. This change is not in itself a problem if the hedging instruments are adapted. We note a contamination of the price of the derivative products by the spot while at the same time the traditional relation between cash and term is not always valid for electricity because of its non storability. When well even the price of the derivative products would be formed in an autonomous way, it poses a second problem: that of their indexing on price references like Platt's whose result is assimilated more to a survey of large producers than a true confrontation of supply and demand. This article proposes to examine this change of nature and behaviour of electricity prices. After having explained the intrinsically volatile characteristic of spot prices, we will recall that the products in the long term are not always optimal solutions to decrease this price risk. Lastly, we will highlight a solution of skirting at the risks mentioned above: contracting between producers and consumers. (authors)

The relationship between alcohol price and brand choice among underage drinkers: Are the most popular alcoholic brands consumed by youth the cheapest?

Science.gov (United States)

Albers, Alison Burke; DeJong, William; Naimi, Tim; Siegel, Michael; Jernigan, David H.

2014-01-01

We examined the influence of price on alcohol brand choice among underage youth. Using a national sample of 1,032 youth ages 13–20, recruited from a national internet panel in 2011–2012, we compared differences in mean prices between popular and unpopular brands; examined the association of price and brand popularity using logistic regression; and rank ordered the average price of top brands. Lower brand-specific prices were significantly associated with higher levels of past 30-day consumption prevalence. However, youth did not preferentially consume the cheapest brands. These findings indicate that youth have preferences for certain brands, even if those brands cost more than competing brands. Our study highlights the need for research on the impact of brand-specific alcohol marketing on underage drinking. PMID:25183436

THE PROTECTION OF CONSUMER RIGHTS FOR AVIATION SAFETY AND SECURITY IN INDONESIA AND MALAYSIA

Directory of Open Access Journals (Sweden)

Annalisa Yahanan

2017-01-01

Full Text Available Indonesia and Malaysia have a good potency for cooperation in aviation industry. It can be seen in the establishing two aviation companies namely PT. Indonesia Air Asia and Malindo which both are low-cost carrier. These aviation industries are categorized as low-cost carrier, however safety and security are absolute factors because these are rights for consumers. This article will describe further about safety and security standard; protecting the rights for consumers in connection with safety aviation in Indonesia and Malaysia from the Consumer Protection Law and the Aviation Law. As a result of the research shows that safety standard passenger for air transportation in airport covers information and safety facility in the shape of availability of the emergency safety tools (fires, accidents and natural disasters; information, area and health facility; and healthcare workers. Moreover, safety standards for passenger in an aircraft include information and safety facility in the shape of availability information and the emergency safety tools for passenger in an aircraft. The protection for consumer rights for safety flight in Indonesia as follows: aviation industry has obligation to fulfill minimum standard of safety and security; consumers must be safety from false information which raises concern; aircraft operation which endanger of the passenger; and consumer protection in operating the electronic device which endanger flight. On the other hand, the law of consumer rights in Malaysia relating to aviation are ruled under the Aviation Law as a result of the Warsaw Convention 1929. In conclusion, the verdict of consumer rights related to security aviation begins when the passenger enter to an aircraft, in the aircraft, and by the time they get off the plane.

76 FR 82115 - Enhancing Airline Passenger Protections: Full Fare Price Advertising Requirements

Science.gov (United States)

2011-12-30

...] RIN 2105-AD92 Enhancing Airline Passenger Protections: Full Fare Price Advertising Requirements AGENCY... amending the time period for compliance with the full fare and other advertising requirements in 14 CFR 399... advertising requirements from January 24, 2012, to January 26, 2012, to provide regulatory relief to...

Managing Consumer Referrals in a Chain Network

OpenAIRE

Maria Arbatskaya; Hideo Konishi

2014-01-01

We consider the optimal pricing and referral strategy of a monopoly that uses a simple consumer communication network (a chain) to spread product information. The first-best policy with fully discriminatory position-based referral fees involves standard monopoly pricing and referral fees that provide consumers with strictly positive referral incentives. Effective price discrimination among consumers based on their positions in the chain occurs in both the first-best solution and the second-be...

Information Requirements and Consumer Protection in Future M-Commerce

DEFF Research Database (Denmark)

Cleff, Evelyne Beatrix; Henschel, Rene Franz

2006-01-01

The aim of this article is to discuss information requirements and consumer protection in mobile commerce. On the basis of a brief introduction to the characteristics of mobile commerce and the regulatory framework that governs mobile commerce in the European Union today, the article presents...

The composite barrel of retail prices and its relationship to crude oil prices

International Nuclear Information System (INIS)

Balabanoff, S.

1993-01-01

This paper challenges assumptions about the relationship between refinery gate prices, retail prices paid by consumers and crude oil prices. The analysis presented here considers their relationship within the context of the Organization of Petroleum Exporting Countries' (OPEC's) composite barrel statistics, which includes taxes and other government policy effects on prices. Speed of adjustment and retail price response to taxes are analysed with respect to crude import prices. OPEC's composite barrel is explained and evaluated. Test results are summarized. (UK)

German energy prices top the scale as Commission examines price transparency

International Nuclear Information System (INIS)

Anon.

1994-01-01

The results of the price transparency directive indicate clearly that gas and electricity prices to both large and small consumers vary widely between member states. And one message which will hit home to large industrial consumers of gas and electricity when they examine the Commission's recent analysis is that relocating or setting up a subsidiary in Germany is a decision which must be taken with care. The Commission's first attempt to examine the directive's operation reveals that the majority of gas and electricity prices in Germany are higher than those in the bulk of other member states. While the reasons for this are known - for electricity it is mainly due to the Kohlepfennig, a surcharge added to power bills to support the uneconomic coal industry -the Commission's analysis focuses on the price difference between member states rather than the various reasons - tariff policy, taxes, environmental costs - for the difference. (Author)

75 FR 52512 - Acceptance of Public Submissions on the Wall Street Reform and Consumer Protection Act and the...

Science.gov (United States)

2010-08-26

... and Consumer Protection Act and the Rulemakings That Will Be Proposed by the Commission AGENCY...-Frank Wall Street Reform and Consumer Protection Act (``Dodd-Frank Act'') was enacted on July 21, 2010... Consumer Protection Act (``Dodd-Frank Act''), Public Law 111-203, was enacted. The Dodd-Frank Act will...

75 FR 51429 - Definitions Contained in Title VII of Dodd-Frank Wall Street Reform and Consumer Protection Act

Science.gov (United States)

2010-08-20

... VII of Dodd-Frank Wall Street Reform and Consumer Protection Act AGENCY: Securities and Exchange... comments. SUMMARY: The Dodd-Frank Wall Street Reform and Consumer Protection Act (the ``Dodd-Frank Act... requirements. \\1\\ Dodd-Frank Wall Street Reform and Consumer Protection Act, Public Law No. 111-203, 124 Stat...

A MARKETING VIEW OVER THE ROLE OF THE PUBLIC AUTHORITIES IN THE PROTECTION OF THE CONSUMERS PRIVATE SPACE

Directory of Open Access Journals (Sweden)

Veghes Calin

2011-12-01

Full Text Available The concept of privacy, seen in connection with the consumer's private space, and defined in terms of the rights the consumer have to disclose or not, respectively to have protected their personal data has gained an increasing importance, as a result of the organizations extended and more and more aggressive attempts, within their marketing efforts, to capture, process and use the consumers personal data. Privacy protection has become an important but, in the same time, extremely sensitive and challenging topic to be taken into consideration by all the stakeholders involved in the processing and employment of the consumers personal data. A key role in this respect is played by the public authorities acting as data controllers the Data Protection Authorities, that have to adopt a more proactive and efficient attitude in adopting and implementing policies and processes aiming to ensure a more effective protection of the personal data and private space, conduct privacy impact assessments and continuously improve the specific activities. Paper presents the opinions of the consumers through the results of an exploratory study regarding the importance given to the protection of the personal data, the area of protection of the specific laws, the need for laws regulating the personal data protection, the balance between the public and private entities in providing a proper protection of the personal data, and the relationship between the domestic, European, and international levels in ensuring the protection of the consumers personal data. Results regarding the role of the public authorities in the protection of the consumers personal data and private space in terms of the most appropriate institution to act as a data controller, the rights consumers consider important in relationship with the protection of their personal data and the risks faced in the context of a less effective protection are also presented.

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. ...

The Interdependence of Competition Policy, Consumer Policy and Regulation in Introducing and Safeguarding Effective Competition in the EU Telecommunications Market

Directory of Open Access Journals (Sweden)

Andreas Bartels

2017-05-01

Full Text Available Currently, the European Union finds itself in troubled waters. It has to prove that its benefits outweigh the costs of its endeavour. In this respect, an EU competition policy that focuses on consumer welfare is one way to gain support by the citizens of its member states. The Roaming Regulation that has reduced the mobile communications costs while travelling abroad serves as a good example for this approach. The EU Commission views consumer policy as another important factor to protect and benefit customers. In markets with natural monopolies, the two policies require the support of an effective regulatory policy. The research demonstrates that these three policies – if harmonised – are able to lead to an increase in consumer welfare (primarily by reducing prices and that they protect the rights and interests of consumers. In the case of telecommunications, several initiatives of the European Commission and of national regulatory authorities to falls in prices and forced operators to implement customer friendly rules and to protect customer data and privacy. The authors consider that the European Commission has tried to establish and harmonise rules across all member states in order to protect the interests and rights of consumers on the telecommunication market. The enforcement of competition and consumer policy within institutions from the telecom field certainly could promote the focus on consumers and the possibility to use a large “toolbox”. Harmonising and adjusting the policies across different countries and institutions and minimising any possible side effects is nevertheless a challenging task for the EU Commission in the future.

Sugar Price Supports and Taxation: A Public Health Policy Paradox.

Science.gov (United States)

Dilk, Abby; Savaiano, Dennis A

2017-05-01

Domestic US sugar production has been protected by government policy for the past 82 years, resulting in elevated domestic prices and an estimated annual (2013) $1.4 billion dollar "tax" on consumers. These elevated prices and the simultaneous federal support for domestic corn production have ensured a strong market for high-fructose corn syrup. Americans have dramatically increased their consumption of caloric sweeteners during the same period. Consumption of "empty" calories (ie, foods with low-nutrient/high-caloric density)-sugar and high-fructose corn syrup being the primary sources-is considered by most public health experts to be a key contributing factor to the rise in obesity. There have been substantial efforts to tax sugar-sweetened beverages (SSBs) to both reduce consumption and provide a source of funds for nutrition education, thereby emulating the tobacco tax model. Volume-based SSB taxes levy the tax rate per ounce of liquid, where some are only imposed on beverages with added sugar content exceeding a set threshold. Nonetheless, volume-based taxes have significant limitations in encouraging consumers to reduce their caloric intake due to a lack of transparency at the point of purchase. Thus, it is hypothesized that point-of-purchase, nutrient-specific excise taxes on SSBs would be more effective at reducing sugar consumption. However, all SSB taxes are limited by the possibility that consumers may compensate their decreased intake from SSBs with other high-calorie junk foods. Furthermore, there are no existing studies to provide evidence on how SSB taxes will impact obesity rates in the long term. The paradox of sugar prices is that Americans have paid higher prices for sugar to protect domestic production for more than 80 years, and now, Americans are being asked to pay even more to promote public health. The effective use of sugar taxes should be considered based on their merits in reducing sugar consumption and making available a new source of

Large-scale energy consumers pay less

International Nuclear Information System (INIS)

Denneman, A.

2012-01-01

The price of electricity in the Netherlands rose with 6 percent in the first quarter of 2012, whereas large business consumers are paying less. The natural gas price has risen with about 10 percent in the last year, both for households and for large business consumers. Meanwhile, households are paying twice as much for electricity and gas as large business consumers. [nl

Consumer Protection in Managed Care: A Third-Generation Approach.

Science.gov (United States)

Rother, John

1996-01-01

Discusses three generations of consumer protection issues related to managed care: (1) individual treatment decisions--individuals wanting treatment their plan does not cover or deems unnecessary; (2) insurance practices and risk selection--impact of health management organizations on the rest of the health insurance system; and (3) health plan…

An exploratory analysis of cigarette price premium, market share and consumer loyalty in relation to continued consumption versus cessation in a national US panel

Science.gov (United States)

Lewis, Michael; Wang, Yanwen; Cahn, Zachary; Berg, Carla J

2015-01-01

Introduction Brand equity and consumer loyalty play a role in continued purchasing behaviour; however, this research has largely focused on non-addictive products without counter-marketing tactics. We examined the impact of brand equity (price premium, market share) and consumer loyalty (switching rates) on smoking cessation (discontinued cigarette purchases for 1 year) among smokers in a consumer panel. Methods In Spring 2015, we analysed 1077 cigarette-purchasing households in the Nielsen Homescan Panel. We analysed cessation in relation to brand equity, consumer loyalty, other purchasing behaviours (nicotine intake, frequency), sociodemographics and tobacco control activities (per state-specific data) over a 6-year period (2004–2009) using Cox proportional hazard modelling. Results The sample was 13.28% African-American; the average income was $52 334 (SD=31 445). The average price premium and market share of smokers’ dominant brands were $1.31 (SD=0.49) and 15.41% (SD=19.15), respectively. The mean brand loyalty level was 0.90 (SD=0.17), indicating high loyalty. In our final model, a higher price premium and market share were associated with lower quit rates (p=0.039); however, an interaction effect suggested that greater market share was not associated with lower cessation rates for African-American smokers (p=0.006). Consumer loyalty was not associated with cessation. Other predictors of lower quit rates included a higher nicotine intake (p=0.006) and baseline purchase frequency (pconsumer relationships. Thus, continued efforts should aim to regulate tobacco marketing efforts in order to disrupt these relationships to promote cessation. PMID:26534732

Exploring asymmetric behavior pattern from Indian oil products prices using NARDL and GHSOM approaches

International Nuclear Information System (INIS)

Chattopadhyay, Manojit; Kumar Mitra, Subrata

2015-01-01

The present work endeavors to explore the potential asymmetries in the pricing of oil products in India where prices are not only affected by the crude oil price changes in the international markets but are also subject to government interventions. In order to protect domestic consumers from this volatility, historically the government of India tried to control the domestic price of petroleum products by cross subsidization and giving subsidies. In this paper, we analyze the impact of crude oil price on domestic oil prices by applying nonlinear autoregressive distributed lag (NARDL) and Growing Hierarchical Self-Organizing Map (GHSOM) approaches for the period of April, 2005–July, 2014. The GHSOM has been explored through pattern analysis on the asymmetric behavior using similarity measures. From the study it can be interpreted that the prices of products left to be determined by the market exhibit a strong asymmetry. However, pricing of the products that are monitored and controlled by the government do not exhibit any such asymmetry. Hence, the question still remains – should the government intervene in pricing petroleum products when monopolistic attitudes of large oil companies are detrimental to the interest of retail consumers? - Highlights: • We explored the potential asymmetries in the pricing of oil products in India. • Analyze cointegration and asymmetric behavior of oil products by NARDL approach. • GHSOM method has been explored for pattern analysis on the asymmetric behavior. • The analysis reveals that the market determined prices exhibits a strong asymmetry. • Oil product pricing controlled by the government do not exhibit such asymmetry.

Information Requirements and Consumer Protection in Future M-Commerce

DEFF Research Database (Denmark)

Cleff, Evelyne Beatrix; Henschel, Rene Franz

2007-01-01

  The aim of this article is to discuss information requirements and consumer protection in mobile commerce. On the basis of a brief introduction to the characteristics of mobile commerce and the regulatory framework that governs mobile commerce in the European Union today, the article presents...... that the solution may be relaxed enforcement of the regulatory framework and/or self-regulation, e.g. by codes of conduct. However, the article argues that other possible solutions should be considered, e.g. the use of specific symbols and sounds that - like road traffic rules - could help the consumer to navigate...

Perceptions of unfairness in price increases: an experimental study

Directory of Open Access Journals (Sweden)

Verônica Feder Mayer

2014-09-01

Full Text Available This experimental study investigates antecedents and consequences of perceptions of price unfairness in a price increase situation. The proposed theoretical model states that consumer dependence on the service provider as well as the relevance the consumer attributes to the service (for the consumer's life will affect his/her degree of (a unfairness price perception, (b anger, and (c intention to complain and retaliate. The results support all the hypotheses specified in the model. The findings not only indicate that some situations of unfairness price perception lead to stronger emotions and more dramatic reactions from consumers, but also allow us to predict which situations of perceived unfairness offer greater risks and have greater potential for conflict.

Assessing the effect of oil price on world food prices: Application of principal component analysis

International Nuclear Information System (INIS)

Esmaeili, Abdoulkarim; Shokoohi, Zainab

2011-01-01

The objective of this paper is to investigate the co-movement of food prices and the macroeconomic index, especially the oil price, by principal component analysis to further understand the influence of the macroeconomic index on food prices. We examined the food prices of seven major products: eggs, meat, milk, oilseeds, rice, sugar and wheat. The macroeconomic variables studied were crude oil prices, consumer price indexes, food production indexes and GDP around the world between 1961 and 2005. We use the Scree test and the proportion of variance method for determining the optimal number of common factors. The correlation coefficient between the extracted principal component and the macroeconomic index varies between 0.87 for the world GDP and 0.36 for the consumer price index. We find the food production index has the greatest influence on the macroeconomic index and that the oil price index has an influence on the food production index. Consequently, crude oil prices have an indirect effect on food prices. - Research Highlights: →We investigate the co-movement of food prices and the macroeconomic index. →The crude oil price has indirect effect on the world GDP via its impacts on food production index. →The food production index is the source of causation for CPI and GDP is affected by CPI. →The results confirm an indirect effect among oil price, food price principal component.

Dynamic Price Dispersion of Storable Goods

DEFF Research Database (Denmark)

Gao, Cixiu

2014-01-01

with different search costs and willingness to wait. I demonstrate that the high-price-low-price pattern is rational for storable goods. In a Markov-perfect equilibrium, agents’ actions depend on consumer inventory, and purchase decisions are characterized by a critical price. The equilibrium price series...

When Supermarket Consumers Get Stocked in the Middle

DEFF Research Database (Denmark)

Hansen, Torben; Jensen, Jan Møller; Solgaard, Hans Stubbe

2011-01-01

, suggesting that consumers with a high-quality/low-price preference structure should be disconfirmed and thus dissatisfied. However, this study finds that – when patronising discount stores and upscale stores – consumers who attach high weight to quality and price are likely to become more satisfied than......Purpose – The purpose of this paper is to investigate whether consumer supermarket satisfaction is influenced by the mere composition of consumers' preference structure, as opposed to more widespread approaches where consumer satisfaction is regarded as the degree to which consumer expectations and....../or preferences are met. Design/methodology/approach – Survey data were collected from 130 consumers using self-administered questionnaires. Structural equation modelling was used to test the authors' proposed hypotheses. Findings – According to consumers, not many supermarkets offer high quality at low prices...

Pricing and tariffs

International Nuclear Information System (INIS)

Dyrelund, A.

1993-01-01

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

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....

THREE DECADES OF CONSUMER PROTECTION OF RIGHTS ACT: RURAL INDIA NEEDS FOCUSED ATTENTION

OpenAIRE

Dr. Amrit Patel

2017-01-01

India has been observing December 24 each year since 1986 as “National Consumer Rights Day”, when the Consumer Protection Act [CPA], 1986 came into force on this day. Despite the implementation of the CPA has completed three decades in the country, the rural India has yet to understand the meaning of consumer’s rights & the procedure to protect the right enshrined in the CPA,1986. This has its significance because according to the National Council of Applied Economic Research survey report th...

Demystifying patient price estimates. The advantages of transparency.

Science.gov (United States)

Kane, Cheri S; Harvey, Gayla

2015-05-01

With the increase of high-deductible health plans, more consumers want to know the cost of their health care before they purchase services. A healthcare organization should formulate transparent price policies that: Fit with its intentions, processes, and goals. Ensure consumers are thoroughly educated about their financial responsibilities. Include the use of consumer pricing tools that help patients feel like empowered consumers. Reflect an enterprisewide culture of transparency.

On Mergers in Consumer Search Markets

NARCIS (Netherlands)

M.C.W. Janssen (Maarten); J.L. Moraga-Gonzalez (José Luis)

2007-01-01

textabstractWe study mergers in a market where N firms sell a homogeneous good and consumers search sequentially to discover prices. The main motivation for such an analysis is that mergers generally affect market prices and thereby, in a search environment, the search behavior of consumers.

Optimal public rationing and price response.

Science.gov (United States)

Grassi, Simona; Ma, Ching-To Albert

2011-12-01

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

Price regulation in the Spanish energy sectors: who benefits?

International Nuclear Information System (INIS)

Arocena, Pablo; Contin, Ignacio; Huerta, Emilio

2002-01-01

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

Price regulation in the Spanish energy sectors: who benefits?

Energy Technology Data Exchange (ETDEWEB)

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

2002-08-01

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

Pass-through of crude oil prices at different stages in Turkey

Directory of Open Access Journals (Sweden)

Fatih Akçelik

2016-03-01

Full Text Available This paper examines the degree of oil price pass-through to domestic prices at different stages of supply chain in Turkey. Our results, based on vector autoregressive models, point out that the pass-through to domestic motor fuel prices is considerably fast as expected and just one third of a change in crude oil prices is reflected to the motor fuel prices due to the high share of taxes on retail prices. On the other hand, it is shown that impact of oil prices on transport services takes a longer time compared to other domestic prices. Over the 2004–2014 period, estimates suggest that a 10% permanent change in the international crude oil prices is associated with a 0.42 percentage points change in consumer inflation at the end of one year. The final accumulated pass-through to consumer inflation reaches 0.50 percentage points. Moreover, the pass-through to producer prices is nearly twice as much as that to consumer prices. Findings also provide some evidence for a strengthening in oil price pass-through to consumer inflation over time, which might reflect the growing natural gas intensity of the economy.

Crude oil hedging: benchmarking price protection strategies

International Nuclear Information System (INIS)

Krapels, Edward N.; Pratt, Michael

1998-01-01

This report presents a review of hedging (protection against a loss) strategies in the crude oil futures and options markets. The introductory section of the report gives details of hedging instruments, and the purposes of hedging crude oil. Hedging strategies including pure futures strategies, pure options strategies, options combination strategies, exotic (Asian) options strategies, and insurance instruments are described. The West Texas intermediate (WTI) market depth, liquidity and hedging effectiveness are examined, and winners and losers, and energy consumers are considered. The appendix gives tables and charts summarising the outcomes of futures and options strategies under different market conditions and expectations. (UK)

News impact for Turkish food prices

Directory of Open Access Journals (Sweden)

Meltem Chadwick

2017-06-01

Full Text Available Asymmetric volatility is a widely encountered concept particularly in financial series. It refers to the case that “bad news” generates more volatility than “good news” of equal magnitude. In an inflationary environment “bad news” is disclosed as increasing inflation that is expected to generate higher volatility. The present article examines whether unexpected price changes affect the volatility of prices asymmetrically for 90 retail food items of the Turkish consumer price index. These 90 food items have a weight of approximately 20 percent in headline consumer price index (CPI. We employ exponential generalized autoregressive conditional heteroscedastic (EGARCH model to extract asymmetric volatility, using monthly data between January 2003 and January 2017. Our results reveal that volatility of food prices respond asymmetrically to unexpected price shocks for 62 percent of the retail food items.

Extra price of climate-neutral consumer products; Meerprijs klimaatneutrale consumentenproducten

Energy Technology Data Exchange (ETDEWEB)

Van Swigchem, J.; De Haan, F.

2001-04-01

Climate-neutral production of consumer products means (1) prevent the emission of CO2 (e.g. by saving energy and using renewable energy), and/or (2) compensate CO2 emission by afforestation. The extra price to realize this was calculated for three different products: paper diapers, coffee and deepfrozen green beans. [Dutch] In de titel studie is berekend tegen welke meerprijs producenten hun producten klimaatneutraal kunnen produceren. De meerprijs is berekend van drie producten: papieren luiers, koffie en diepvriessperciebonen. Deze zijn uitsluitend gekozen als voorbeeld, en zijn (binnen de gestelde criteria) willekeurig. Klimaatneutraal produceren houdt in: (1) voorkomen dat CO2-emissies vrijkomen (bijvoorbeeld door energie te besparen en duurzame energie in te zetten), en/of (2) de CO2-emissies die vrijkomen compenseren door bijvoorbeeld bosaanplant. Uit de studie blijkt dat circa 90% van de CO2-emissies die een gevolg zijn van de productie van de onderzochte producten, tegen geringe meerkosten kunnen worden gereduceerd of gecompenseerd. Een combinatie van energie-efficiency maatregelen en compensatie door bosaanplant levert de laagste meerkosten op.

Limited use of price and quality advertising among American hospitals.

Science.gov (United States)

Muhlestein, David B; Wilks, Chrisanne E A; Richter, Jason P

2013-08-29

Consumer-directed policies, including health savings accounts, have been proposed and implemented to involve individuals more directly with the cost of their health care. The hope is this will ultimately encourage providers to compete for patients based on price or quality, resulting in lower health care costs and better health outcomes. To evaluate American hospital websites to learn whether hospitals advertise directly to consumers using price or quality data. Structured review of websites of 10% of American hospitals (N=474) to evaluate whether price or quality information is available to consumers and identify what hospitals advertise about to attract consumers. On their websites, 1.3% (6/474) of hospitals advertised about price and 19.0% (90/474) had some price information available; 5.7% (27/474) of hospitals advertised about quality outcomes information and 40.9% (194/474) had some quality outcome data available. Price and quality information that was available was limited and of minimal use to compare hospitals. Hospitals were more likely to advertise about service lines (56.5%, 268/474), access (49.6%, 235/474), awards (34.0%, 161/474), and amenities (30.8%, 146/474). Insufficient information currently exists for consumers to choose hospitals on the basis of price or quality, making current consumer-directed policies unlikely to realize improved quality or lower costs. Consumers may be more interested in information not related to cost or clinical factors when choosing a hospital, so consumer-directed strategies may be better served before choosing a provider, such as when choosing a health plan.

The impact of choice context on consumers' choice heuristics

DEFF Research Database (Denmark)

Mueller Loose, Simone; Scholderer, Joachim; Corsi, Armando M.

2012-01-01

Context effects in choice settings have received recent attention but little is known about the impact of context on choice consistency and the extent to which consumers apply choice heuristics. The sequence of alternatives in a choice set is examined here as one specific context effect. We compare...... how a change from a typical price order to a sensory order in wine menus affects consumer choice. We use pre-specified latent heuristic classes to analyse the existence of different choice processes, which begins to untangle the ‘black box’ of how consumers choose. Our findings indicate...... that in the absence of price order, consumers are less price-sensitive, pay more attention to visually salient cues, are less consistent in their choices and employ other simple choice heuristics more frequently than price. Implications for consumer research, marketing and consumer policy are discussed....

Effective methods of consumer protection in Brazil. An analysis in the context of property development contracts

Directory of Open Access Journals (Sweden)

Deborah Alcici Salomão

2015-12-01

Full Text Available This study examines consumer protection in arbitration, especially under the example of property development contract disputes in Brazil. This is a very current issue in light of the presidential veto of consumer arbitration on May 26, 2015. The article discusses the arbitrability of these disputes based on Brazilian legislation and relevant case law. It also analyzes of the advantages, disadvantages and trends of consumer arbitration in the context of real estate contracts. The paper concludes by providing suggestions specific to consumer protection in arbitration based on this analysis.

Consumer Willingness to Pay for Dengue Vaccine (CYD-TDV, Dengvaxia®) in Brazil; Implications for Future Pricing Considerations.

Science.gov (United States)

Godói, Isabella P; Santos, André S; Reis, Edna A; Lemos, Livia L P; Brandão, Cristina M R; Alvares, Juliana; Acurcio, Francisco A; Godman, Brian; Guerra Júnior, Augusto A

2017-01-01

Introduction and Objective: Dengue virus is a serious global health problem with an estimated 3.97 billion people at risk for infection worldwide. In December 2015, the first vaccine (CYD-TDV) for dengue prevention was approved in Brazil, developed by Sanofi Pasteur. However, given that the vaccine will potentially be paid via the public health system, information is need regarding consumers' willingness to pay for the dengue vaccine in the country as well as discussions related to the possible inclusion of this vaccine into the public health system. This was the objective of this research. Methods : We conducted a cross-sectional study with residents of Greater Belo Horizonte, Minas Gerais, about their willingness to pay for the CYD-TDV vaccine. Results : 507 individuals were interviewed. These were mostly female (62.4%) had completed high school (62.17%), were working (74.4%), had private health insurance (64.5%) and did not have dengue (67.4%). The maximum median value of consumers' willingness to pay for CYD-TDV vaccine is US$33.61 (120.00BRL) for the complete schedule and US$11.20 (40.00BRL) per dose. At the price determined by the Brazil's regulatory chamber of pharmaceutical products market for the commercialization of Dengvaxia ® for three doses, only 17% of the population expressed willingness to pay for this vaccine. Conclusion : Brazil is currently one of the largest markets for dengue vaccine and the price established is a key issue. We believe the manufacturer should asses the possibility of lower prices to reach a larger audience among the Brazilian population.

The impact of category prices on store price image formation : An empirical analysis

NARCIS (Netherlands)

Da Silva Lourenço, C.J.; Gijsbrechts, E.; Paap, R.

2015-01-01

The authors empirically explore how consumers update beliefs about a store's overall expensiveness. They estimate a learning model of store price image (SPI) formation with the impact of actual prices linked to category characteristics, on a unique dataset combining store visit and purchase

AGREEMENT ON THE SALE AND PURCHASE OF HOUSES TO BE BUILT IN CONJUNCTION WITH THE CONSUMER PROTECTION ACT

Directory of Open Access Journals (Sweden)

Ahmad Fauzi

2018-03-01

Full Text Available In residential buying agreements, contracts governing default are usually common. Default is stated by expressing negligence in two respects, whether it is negligence in payment of instalment or negligence in the delay of settlement of house construction which will be delivered to the consumer. The developer's responsibility is usually related to the delay of the house construction and delivery to the consumer. In the execution of the sale and purchase transaction of the house to be built, consumers rarely gain consumer protection rights as regulated and mentioned in the article on consumer rights and business actor obligations contained in Article 4 and 7 of Law no. 8 of 1999 on Consumer Protection. Furthermore, field practice reality shows that consumers and developers do not have the same bargaining position, where the consumer are usually required to follow the agreement that has been standardized by developers who are legally contrary to Article 18 of Law no. 8 of 1999 on Consumer Protection.

Oil market prices 1989/1990

International Nuclear Information System (INIS)

Jenkins, G.

1991-01-01

There are many oil markets. Oil Market Prices lists the markets, provides statistics on prices and the volumes of trade, analyses the price structures in the markets and provides supplementary information on ocean freight rates and oil refining margins. Oil Market Prices will serve as a permanent record of crude oil prices including those quoted on the futures and forward markets, the many wholesale prices for refined oil products, prices consumers pay and the average prices received by the oil companies. In all instances the sources of the statistics are given together with comprehensive listing of alternative sources. (Author)

Unpacking the right to plain and understandable language in the consumer protection act 68 of 2008

OpenAIRE

Stoop, Philip N; Chürr, Chrizell

2013-01-01

The Consumer Protection Act 68 of 2008 came into effect on 1 April 2011. The purpose of this Act is, among other things, to promote fairness, openness and respectable business practice between the suppliers of goods or services and the consumers of such good and services. In consumer protection legislation fairness is usually approached from two directions, namely substantive and procedural fairness. Measures aimed at procedural fairness address conduct during the bargaining process and gener...

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...

The Consumer Protection Clinical Course at UCLA School of Law

Science.gov (United States)

Bergman, Paul

1978-01-01

The Consumer Protection clinical course, in which case supervision is provided by government agency personnel, is described. Implications are considered regarding the necessity and emphasis of a seminar component, and the usefulness of clinical courses in teaching substantive law as well as lawyering skills. (LBH)

Analysing the components of attitude in a function of improving consumer protection in the Republic of Serbia

Directory of Open Access Journals (Sweden)

Ćirić Maja

2014-01-01

Full Text Available Consumers are the starting point and the focus of all activities of companies that want to survive in the long term and do business profitably on the market. However, even in the most developed economies in the world do not have all the companies awareness about the importance of social responsible business and ethical marketing. Therefore there is a need for institutional protection of consumers from unfer and unethical business of companies, on the one hand, but on the other hand, they have to encourage themselves to be more involved in the protection of their rights. The purpose of this paper is the analysis of the components of consumer attitude about the degree of protection of consumer rights in the Republic of Serbia in order to conclude on which way consumers can be encouraged to participate more actively in the exercise of rights. The aim of this study is to determine whether the cognitive, affective and behavioral component of the attitude are intercorelated and to what extent, and whether cognitive or affective component has dominant influence on forming behavioral component of the consumer attitude. Based on the results of the research about the corelation and influence of the analyzed components of the attitude we draw conclusions on which way it can be possible to affect on the consumer intention to be more engaged in its rights protection as well as on which way it can be possible to improve the consumer protection in the Republic of Serbia, generally speaking.

LA PROTECCIÓN DE LOS CONSUMIDORES FINANCIEROS. THE PROTECTION OF FINANCIAL CONSUMERS.

Directory of Open Access Journals (Sweden)

Mayda Soraya Marín Galeano.

2013-12-01

Full Text Available En este artículo se propone contrastar las diferentes legislaciones de protección a los consumidores financieros, observando el panorama colombiano con relación a otros países. El estudio se desarrolla en cuatro fases: en la primera, se expondrá un panorama general de los derechos de los consumidores financieros; en la segunda, se presentarán los indicadores construidos; la tercera, constará de la medición y comparación de la protección del consumidor financiero en los cinco países seleccionados (Chile, Colombia, Reino Unido, España y Estados Unidos; y finalmente, se propondrán hipótesis causales que expliquen la protección del consumidor financiero. Abstract: This article intends to contrast the different laws of protection to financial consumers, in which the Colombian view is being compared with the one from other countries. This study is developed in four stages: in the first one, a comprehensive overview of the financial consumer rights will be set out; in the second one, the built indicators will be shown; in the third one, the measurement and comparison of the financial consumer protection will be carried out in the five following selected countries: Chile, Colombia, United Kingdom, Spain, and The United States; and in the last one, causal hypotheses explaining the financial consumer protection will be proposed.

Prices regulation in price-cap: the lessons of the british gas industry; Reglementations tarifaires en price-cap: les lecons de l'industrie gaziere anglaise

Energy Technology Data Exchange (ETDEWEB)

David, L.

2003-07-01

This article examines the problem of the price-cap regulation applied to the british gas transport. The RPI-X cap is a particular form of the price cap. This cap seems to be more remunerative for the regulatory firm than a cap calculated on the Laspeyres index because it authorizes a greater freedom of prices choice, to the prejudice of the consumers. Facing these perverse effects, Cowan proposed in 1997 a new system, not more satisfying. Another equation is analyzed in this article, proposed by Ofgem. Meanwhile this system presents no improvement of the consumers surplus facing the RPI-X cap. (A.L.B.)

Consumers' attitudes towards GM Free products in a European Region. The case of the Prefecture of Drama-Kavala-Xanthi in Greece.

Science.gov (United States)

Tsourgiannis, L; Karasavvoglou, A; Florou, G

2011-10-01

This study aims to identify the factors that affect consumers purchasing behaviour towards food products that are free from Genetic Modified Organism (GM Free) in a European Region and more precisely in the Prefecture of Drama-Kavala-Xanthi. Field interviews conducted in a random selected sample consisted of 337 consumers in the cities of Drama, Kavala, Xanthi, in November and December of 2009. Principal components analysis (PCA) was conducted in order to identify the factors that affect people in preferring consuming products that are GM Free. The factors that influence people in the study area to buy GM Free products are: (a) products' certification as GM Free or organic products, (b) interest about the protection of the environment and nutrition value, (c) marketing issues, and (d) price and quality. Furthermore, cluster and discriminant analysis identified two groups of consumers: (a) those are influenced by the product price, quality and marketing aspects and (b) those are interested in product's certification and environmental protection. Non parametric statistical bivariate techniques were performed to profile the identified groups of consumers regarding their personal characteristics and some other factors affecting their buying behaviour. Copyright © 2011. Published by Elsevier Ltd.

Odd Price: Harga, Psikologi Dan Perilaku Konsumen Dalam Purchase Decision Making

OpenAIRE

Tjiptodjojo, Kartika Imasari

2012-01-01

Price is one important component in marketing as well as in creating of customer value. Determination of an appropriate pricing strategy will not only affect consumers' perception of the level, but will bring the consumers to the point of purchase. Odd Price is one of the company's strategies to create the impression in the minds of consumer’s low price. This strategy is considered quite successful in influencing consumer psychology in deciding to buy the product or service offered by t...

Government Pricing Policy and Behavioral Consumption of Tobacco

OpenAIRE

Firend, A.R

2015-01-01

This research examines the impact of tobacco tax on government revenues and consumer's behavior towards price increases. In this examines historical trends of tobacco tax hikes in Malaysia and consumer's reaction towards anticipated price increases. Methodology consisted of qualitative and quantitative data collection for triangulation in addition to review reports and studies of governmental and independent agencies. Findings suggest that price increases has a minimal affect on consumption h...

Current Trends in providing the Toys Security and Consumer Protection

Directory of Open Access Journals (Sweden)

Luiela Magdalena Csorba

2014-01-01

Full Text Available The goods and services market is not in equilibrium. This affects continuously the consumers under multiple aspects: economic, educational, health insurance and security, and so on. Not even the toys market outlets or the toys trading market aren’t trouble free. Because publications in the toys consumer protection field are seldom (legislation is the starting point in analyzing this area, the checks carried out at national level which showed the marketed toys insecurity and the abuses of the economic agents in this sector determined us to analyze the degree in which people knows the toy-related injuries and the danger to which they expose their own children when purchasing dangerous toys. That’s why a quantitative research was conducted, using the method of questionnaire, distributed through the Romanian consumers, with the aim to check the empirically awareness and the seriousness with which they relate the risks concerning the toys consume.

“Call for Prices”: Strategic Implications of Raising Consumers' Costs

OpenAIRE

Preyas S. Desai; Anand Krishnamoorthy; Preethika Sainam

2010-01-01

Many consumer durable retailers often do not advertise their prices and instead ask consumers to call them for prices. It is easy to see that this practice increases the consumers' cost of learning the prices of products they are considering, yet firms commonly use such practices. Not advertising prices may reduce the firm's advertising costs, but the strategic effects of doing so are not clear. Our objective is to examine the strategic effects of this practice. In particular, how does making...

Demand side management in recycling and electricity retail pricing

Science.gov (United States)

Kazan, Osman

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

Dynamic electricity pricing—Which programs do consumers prefer?

International Nuclear Information System (INIS)

Dütschke, Elisabeth; Paetz, Alexandra-Gwyn

2013-01-01

Dynamic pricing is being discussed as one method of demand side management (DSM) which could be crucial for integrating more renewable energy sources into the electricity system. At the same time, there have been very few analyses of consumer preferences in this regard: Which type of pricing program are consumers most likely to choose and why? This paper sheds some light on these issues based on two empirical studies from Germany: (1) A questionnaire study including a conjoint analysis-design and (2) A field experiment with test-residents of a smart home laboratory. The results show that consumers are open to dynamic pricing, but prefer simple programs to complex and highly dynamic ones; smart home technologies including demand automation are seen as a prerequisite for DSM. The study provides some indications that consumers might be more willing to accept more dynamic pricing programs if they have the chance to experience in practice how these can be managed in everyday life. At the same time, the individual and societal advantages of such programs are not obvious to consumers. For this reason, any market roll-out will need to be accompanied by convincing communication and information campaigns to ensure that these advantages are perceived. - Highlights: • Little is known about consumer preferences on dynamic pricing. • Two studies are conducted to analyze this topic. • A survey shows that consumers without experience prefer conventional programs. • Test residents of a smart home were more open to dynamic pricing. • They also prefer well-structured programs

An exploratory analysis of cigarette price premium, market share and consumer loyalty in relation to continued consumption versus cessation in a national US panel.

Science.gov (United States)

Lewis, Michael; Wang, Yanwen; Cahn, Zachary; Berg, Carla J

2015-11-03

Brand equity and consumer loyalty play a role in continued purchasing behaviour; however, this research has largely focused on non-addictive products without counter-marketing tactics. We examined the impact of brand equity (price premium, market share) and consumer loyalty (switching rates) on smoking cessation (discontinued cigarette purchases for 1 year) among smokers in a consumer panel. In Spring 2015, we analysed 1077 cigarette-purchasing households in the Nielsen Homescan Panel. We analysed cessation in relation to brand equity, consumer loyalty, other purchasing behaviours (nicotine intake, frequency), sociodemographics and tobacco control activities (per state-specific data) over a 6-year period (2004-2009) using Cox proportional hazard modelling. The sample was 13.28% African-American; the average income was $52,334 (SD=31,445). The average price premium and market share of smokers' dominant brands were $1.31 (SD=0.49) and 15.41% (SD=19.15), respectively. The mean brand loyalty level was 0.90 (SD=0.17), indicating high loyalty. In our final model, a higher price premium and market share were associated with lower quit rates (p=0.039); however, an interaction effect suggested that greater market share was not associated with lower cessation rates for African-American smokers (p=0.006). Consumer loyalty was not associated with cessation. Other predictors of lower quit rates included a higher nicotine intake (p=0.006) and baseline purchase frequency (pconsumer relationships. Thus, continued efforts should aim to regulate tobacco marketing efforts in order to disrupt these relationships to promote cessation. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://www.bmj.com/company/products-services/rights-and-licensing/

DEFINITION OF COMPETITIVE PRICE OF HOUSES PROCEEDING FROM THEIR CONSUMER PROPERTIES

Directory of Open Access Journals (Sweden)

Хакимзян Амирович Фасхиев

2016-11-01

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

Natural gas tariffing principles for non-eligible consumers

International Nuclear Information System (INIS)

2005-01-01

This document explains the main principles and control means of natural gas tariffing in France for non-eligible consumers: marginal cost tariffing and equal terms between consumers, prices control regime and public utility contract between the Government and Gaz de France company for the smoothing of the strong volatility of petroleum products price, successive increase of prices due to import tariffs. The evolution of prices between 1998 and today are summarized in tables and graphs. (J.S.)

State energy price and expenditure report 1989

International Nuclear Information System (INIS)

1991-01-01

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

State energy price and expenditure report 1989

Energy Technology Data Exchange (ETDEWEB)

1991-09-30

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

Price volatility in wind dominant electricity markets

DEFF Research Database (Denmark)

Farashbashi-Astaneh, Seyed-Mostafa; Chen, Zhe

2013-01-01

High penetration of intermittent renewable energy sources causes price volatility in future electricity markets. This is specially the case in European countries that plan high penetration levels. This highlights the necessity for revising market regulations and mechanisms in accordance...... to generation combination portfolio. Proposed solutions should be able to tackle with emerging challenges which are mainly due to high variability and unpredictability of intermittent renewable resources. In this paper high price volatility will be introduced as an emerging challenge in wind dominant...... electricity markets. High price volatility is unappreciated because it imposes high financial risk levels to both electricity consumers and producers. Additionally high price variations impede tracking price signals by consumers in future smart grid and jeopardize implementation of demand response concepts...

The real-time price elasticity of electricity

International Nuclear Information System (INIS)

Lijesen, Mark G.

2007-01-01

The real-time price elasticity of electricity contains important information on the demand response of consumers to the volatility of peak prices. Despite the importance, empirical estimates of the real-time elasticity are hardly available. This paper provides a quantification of the real-time relationship between total peak demand and spot market prices. We find a low value for the real-time price elasticity, which may partly be explained from the fact that not all users observe the spot market price. If we correct for this phenomenon, we find the elasticity to be fairly low for consumers currently active in the spot market. If this conclusion applies to all users, this would imply a limited scope for government intervention in supply security issues. (Author)

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

Science.gov (United States)

Herr, Annika; Suppliet, Moritz

2017-12-01

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

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...

Regulations as a Tool to Increase Consumer Protection on the European Retail Payment Market

Directory of Open Access Journals (Sweden)

Janina Harasim

2018-03-01

Full Text Available Aim/purpose - The purpose of the paper is to identify the main areas of customers' threats concerning using financial services and the in-depth review of European industry- -specific consumer regulations concerning current accounts and payments. Design/methodology/approach - Desk research including in-depth analysis of industry- specific consumer regulations referring to current accounts and payment services having the character of EU directives and regulations, European Commission reports, and documents. Findings - The paper shows that consumers' interests are threatened even when they use basic financial services as current account and combined payment instruments. The analysis based on of desk resources has revealed that the regulations give effect to customer protection only if they strictly correspond to defined areas of threats and particular types of risks. Research implications/limitations - The experience of the recent financial crisis proved that the asymmetry of knowledge and information was one of the crucial reasons disrupting customers' position on financial markets. Research findings will help to identify gaps in regulations and develop the quality of further initiatives aimed on informing customers about the implementation of regulations and improving their financial literacy level. Originality/value/contribution - The payment products are rarely discussed in the literature in the context of consumers' protection and financial regulations. This paper contributes to the debate by providing an overview of financial consumer protection issues concerning retail payments.(original abstract

Young adults' responses to alternative messages describing a sugar-sweetened beverage price increase.

Science.gov (United States)

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

2017-01-01

Many jurisdictions in the USA and globally are considering raising the prices of sugar-sweetened beverages (SSB) through taxes as a strategy to reduce their consumption. The objective of the present study was to identify whether the rationale provided for an SSB price increase affects young adults' behavioural intentions and attitudes towards SSB. Participants were randomly assigned to receive one of eight SSB price increase rationales. Intentions to purchase SSB and attitudes about the product and policy were measured. A forty-six-item cross-sectional Internet survey. Undergraduate students (n 494) at a large US Midwestern university. Rationale type was significantly associated with differences in participants' purchasing intentions for the full sample (F 7,485=2·53, P=0·014). Presenting the rationale for an SSB price increase as a user fee, an effort to reduce obesity, a strategy to offset health-care costs or to protect children led to lower SSB purchasing intentions compared with a message with no rationale. Rationale type was also significantly associated with differences in perceptions of soda companies (F 7,485=2·10, P=0·043); among low consumers of SSB, messages describing the price increase as a user fee or tax led to more negative perceptions of soda companies. The rationale attached to an SSB price increase could influence consumers. However, these message effects may depend on individuals' level of SSB consumption.

Investor response to consumer elasticity

International Nuclear Information System (INIS)

Grenaa Jensen, Stine; Meibom, Peter; Ravn, H.F.; Straarup, Sarah

2004-01-01

In the Nordic electricity system there is considerable uncertainty with respect to the long-term development in production capacity. The process towards liberalisation of the electricity sector started in a situation with a large reserve margin, but this margin is gradually vanishing. Since the potential investors in new production capacity are unaccustomed with investments under the new regime it is unknown if and when investments will take place. The electricity price is the key market signal to potential investors. The price is settled as a balance between supply and demand, and it is generally assumed that the demand side has an important role in this, and increasingly so. However, since consumers have not earlier had the incentive to respond to electricity prices, no reliable estimate of demand elasticity is known. The purpose of the present study is to analyse the role of electricity demand elasticity for investments in new electricity production capacity. Electricity price scenarios generated with a partial equilibrium model (Balmorel) are combined with a model of investment decisions. In this, various scenarios concerning the development in the demand elasticity are used. The simulated investment decisions are taken in a stochastic, dynamic setting, where a key point is the timing of the investment decision in relation to the gathering of new information relative to the stochastic elements. Based on this, the consequences of the development in consumer price elasticity for investments in a base load and a peak load plant are investigated. The main result of the analysis is that peak load investments can be made unprofitable by the development in consumer price elasticity, such that an investor will tend to wait with his peak load investment, until the development in consumer price elasticity has been revealed. (au)

Reducing the Burden of Price.

Science.gov (United States)

Hansen, Janet S.

1984-01-01

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

Store managers’ perception of the new Walmart/Massmart price promotion strategy

OpenAIRE

2015-01-01

M.Com. Hi-Lo price promotions are engraved in the South African fast moving consumer goods (FMCG) sector where price cuts and pricing specials are used to draw consumer traffic into stores. Massmart, in particular, Game stores are known for price cuts in the way they promote hence the arrival of Walmart present a dilemma for Games stores because Walmart is known for its everyday low pricing strategy (EDLP) compared to Hi-Lo price promotions which are popular in Game stores...

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...

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...

Strategies to enhance price and quality competition in health care: lessons learned from tracking local markets.

Science.gov (United States)

Lesser, Cara S; Ginsburg, Paul B

2006-06-01

Drawing on observations from tracking changes in local health care markets over the past ten years, this article critiques two Federal Trade Commission and Department of Justice recommendations to enhance price and quality competition. First, we take issue with the notion that consumers, acting independently, will drive greater competition in health care markets. Rather we suggest an important role remains for trusted agents who can analyze inherently complex price and quality information and negotiate on consumers' behalf. With aggregated information identifying providers who deliver cost-effective care, consumers would be better positioned to respond to financial incentives about where to seek care and thereby drive more meaningful competition among providers to reduce costs and improve quality. Second, we take issue with the FTC/DOJ recommendation to provide more direct subsidies to prevent distortions in competition. In the current political environment, it is not practical to provide direct subsidies for all of the unfunded care that exists in health care markets today; instead, some interference with competition may be necessary to protect cross subsidies. Barriers can be reduced, though, by revising pricing policies that have resulted in marked disparities in the relative profitability of different services.

Pricing strategies of the supermarket sector

OpenAIRE

Leal, Joana Lobato da Fonseca Sáragga

2014-01-01

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

Incorporating the value of changes in price volatility into cost-benefit analysis-an application to oil prices in the transport sector

Energy Technology Data Exchange (ETDEWEB)

Jensen, Thomas C., E-mail: tcj@transport.dtu.d [Department of Transport, Danish Technical University, Bygningstorvet 116 Vest, 2800 Lyngby (Denmark); Moller, Flemming [National Environmental Research Institute, Box 358, Frederiksborgvej 399, 4000 Roskilde (Denmark)

2010-01-15

This paper contains a tentative suggestion of how to take into account the value of changes in price volatility in real world cost-benefit analyses. Price volatility is an important aspect of security of supply which first of all concerns physical availability, but assuming that consumers are risk averse, security of supply can also be viewed as a matter of avoiding oscillations in consumption originating from volatile prices of for instance oil. When the government makes transport-related choices on behalf of the consumers, the effect on oscillations in general consumption should be included in the policy assessment taking into account the most significant correlations between prices of alternative fuels and between fuel prices and consumption in general. In the present paper, a method of valuing changes in price volatility based on portfolio theory is applied to some very simple transport-related examples. They indicate that including the value of changes in price volatility often makes very little difference to the results of cost-benefit analyses, but more work has to be done on quantifying, among other things, consumers' risk aversion and the background standard deviation in total consumption before firm conclusions can be drawn.

Incorporating the value of changes in price volatility into cost-benefit analysis. An application to oil prices in the transport sector

Energy Technology Data Exchange (ETDEWEB)

Jensen, Thomas C. [Department of Transport, Danish Technical University, Bygningstorvet 116 Vest, 2800 Lyngby (Denmark); Moeller, Flemming [National Environmental Research Institute, Box 358, Frederiksborgvej 399, 4000 Roskilde (Denmark)

2010-01-15

This paper contains a tentative suggestion of how to take into account the value of changes in price volatility in real world cost-benefit analyses. Price volatility is an important aspect of security of supply which first of all concerns physical availability, but assuming that consumers are risk averse, security of supply can also be viewed as a matter of avoiding oscillations in consumption originating from volatile prices of for instance oil. When the government makes transport-related choices on behalf of the consumers, the effect on oscillations in general consumption should be included in the policy assessment taking into account the most significant correlations between prices of alternative fuels and between fuel prices and consumption in general. In the present paper, a method of valuing changes in price volatility based on portfolio theory is applied to some very simple transport-related examples. They indicate that including the value of changes in price volatility often makes very little difference to the results of cost-benefit analyses, but more work has to be done on quantifying, among other things, consumers' risk aversion and the background standard deviation in total consumption before firm conclusions can be drawn. (author)

Incorporating the value of changes in price volatility into cost-benefit analysis. An application to oil prices in the transport sector

International Nuclear Information System (INIS)

Jensen, Thomas C.; Moeller, Flemming

2010-01-01

This paper contains a tentative suggestion of how to take into account the value of changes in price volatility in real world cost-benefit analyses. Price volatility is an important aspect of security of supply which first of all concerns physical availability, but assuming that consumers are risk averse, security of supply can also be viewed as a matter of avoiding oscillations in consumption originating from volatile prices of for instance oil. When the government makes transport-related choices on behalf of the consumers, the effect on oscillations in general consumption should be included in the policy assessment taking into account the most significant correlations between prices of alternative fuels and between fuel prices and consumption in general. In the present paper, a method of valuing changes in price volatility based on portfolio theory is applied to some very simple transport-related examples. They indicate that including the value of changes in price volatility often makes very little difference to the results of cost-benefit analyses, but more work has to be done on quantifying, among other things, consumers' risk aversion and the background standard deviation in total consumption before firm conclusions can be drawn. (author)

How policies affect international biofuel price linkages

International Nuclear Information System (INIS)

Rajcaniova, Miroslava; Drabik, Dusan; Ciaian, Pavel

2013-01-01

We estimate the role of biofuel policies in determining which country is the price leader in world biofuel markets using a cointegration analysis and a Vector Error Correction (VEC) model. Weekly prices are analyzed for the EU, US, and Brazilian ethanol and biodiesel markets in the 2002–2010 and 2005–2010 time periods, respectively. The US blender's tax credit and Brazil's consumer tax exemption are found to play a role in determining the ethanol prices in other countries. For biodiesel, our results demonstrate that EU policies – the consumer tax exemption and blending target – tend to determine the world biodiesel price. - Highlights: • We estimate the role of biofuel policies in determining biofuel prices. • We use a cointegration analysis and the Vector Error Correction (VEC) model. • The biofuel policies in US and Brazil determine the world ethanol prices. • EU biofuel policies tend to form the world biodiesel price

Stochastic Pricing and Order Model with Transportation Mode Selection for Low-Carbon Retailers

Directory of Open Access Journals (Sweden)

Yi Zheng

2016-01-01

Full Text Available More and more enterprises have begun to pay attention to their carbon footprint in the supply chain, of which transportation has become the second major source of carbon emissions. This paper aims to study both optimum pricing and order quantities, considering consumer demand and the selection of transportation modes by retailers, in terms of carbon emissions sensitivity and price sensitivity under the conditions of a cap-and-trade policy and uncertain market demand. Firstly, we analyze the effects of transportation mode (including transportation costs and transportation-induced carbon emissions, initial emissions allowances, carbon emissions trading price and consumer sensitivity to carbon emissions on the optimum decisions and profits of retailers. The results demonstrate that when consumers are less sensitive to price, the optimum retail price and the optimum order quantity of products are proportional to the transportation cost and transportation-induced carbon emissions of retailers per unit product, the carbon emissions trading price as well as consumer sensitivity to carbon emissions. However, when consumers are highly sensitive to price, the optimum order quantity of products is inversely proportional to the transportation costs and transportation-induced carbon emissions of retailers per unit product, the carbon emissions trading price and consumer sensitivity to carbon emissions. In addition, the optimum retail price of products is inversely proportional to consumer sensitivity to carbon emissions. We also find that retailers prefer a low-carbon transportation mode when the carbon emissions trading price is high. Meanwhile, the carbon emissions trading price influences the carbon emissions trading volume of retailers. These theoretical findings are further validated by some numerical analysis.

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

harm the overall system by further increasing the existing peak demands. The robustness of energy management under the proposed electricity tariff is evaluated in several additional analyses, such as varying shares of flexible customers, different kinds of flexibility options, and historical and forecasted market prices. These analyses show that the decentralized approach of flexible electricity tariffs induces a result almost as good as the centralized approach of a virtual power plant, given the assumption that not all consumers have access to high amounts of flexibility simultaneously and the maximum power withdrawal is not overly limited by the available grid capacities. Building on these findings, it is initially proposed to introduce into a real system an electricity tariff that includes a flexible electricity component alongside a fixed tariff component. This tariff design would be appropriate while participation is limited to only a small number of flexible consumers. However, if the number of consumers reacting to flexible market prices were to increase, it would be necessary to introduce the tariff design developed in this thesis, which consists of a time-varying energy price component in addition to a power price component. This tariff design incentivises consumers to adapt their energy consumption to the variable renewable insertion without inducing critical peak demands. The question of whether this energy tariff would be sufficient for a highly flexible and more digitalized energy system, or would need to be replaced by an even more intelligent approach, remains open for future research.

Are Alcohol Taxation and Pricing Policies Regressive? Product-Level Effects of a Specific Tax and a Minimum Unit Price for Alcohol.

Science.gov (United States)

Vandenberg, Brian; Sharma, Anurag

2016-07-01

To compare estimated effects of two policy alternatives, (i) a minimum unit price (MUP) for alcohol and (ii) specific (per-unit) taxation, upon current product prices, per capita spending (A$), and per capita consumption by income quintile, consumption quintile and product type. Estimation of baseline spending and consumption, and modelling policy-to-price and price-to-consumption effects of policy changes using scanner data from a panel of demographically representative Australian households that includes product-level details of their off-trade alcohol spending (n = 885; total observations = 12,505). Robustness checks include alternative price elasticities, tax rates, minimum price thresholds and tax pass-through rates. Current alcohol taxes and alternative taxation and pricing policies are not highly regressive. Any regressive effects are small and concentrated among heavy consumers. The lowest-income consumers currently spend a larger proportion of income (2.3%) on alcohol taxes than the highest-income consumers (0.3%), but the mean amount is small in magnitude [A$5.50 per week (95%CI: 5.18-5.88)]. Both a MUP and specific taxation will have some regressive effects, but the effects are limited, as they are greatest for the heaviest consumers, irrespective of income. Among the policy alternatives, a MUP is more effective in reducing consumption than specific taxation, especially for consumers in the lowest-income quintile: an estimated mean per capita reduction of 11.9 standard drinks per week (95%CI: 11.3-12.6). Policies that increase the cost of the cheapest alcohol can be effective in reducing alcohol consumption, without having highly regressive effects. © The Author 2015. Medical Council on Alcohol and Oxford University Press. All rights reserved.

Non-price competition in the regional high-rise construction market

Science.gov (United States)

Ganebnykh, Elena; Burtseva, Tatyana; Gurova, Ekaterina; Polyakova, Irina

2018-03-01

The article analyzes the market of high-rise residential construction in the city of Kirov (Russia). A minimal significance of price factors has been revealed in the process of the market analysis. This suggests that a lower price does not guarantee an increase in consumer demand. Thus, factors of non-price competition are of great importance in the market in question. The expert survey has identified the factors of non-price competition which influence consumer perceptions. A perceptual map has been constructed on the basis of the identified factors by means of the factor analysis to determine the positioning of each high-rise building relative to the consumer requirements. None of the high-rise residential buildings in the market in question meets the consumers' expectations of an "ideal facility".

The Consumer Protection Act: No-fault liability of health care providers

OpenAIRE

Slabbert, M Nöthling; Pepper, Michael S

2011-01-01

The introduction of no-fault or strict liability by the Consumer Protection Act 68 of 2008 (CPA) poses serious problems in the health care context. With a patient as a consumer' in terms of the CPA, health care practitioners may find themselves as suppliers' or retailers' as part of a supply chain, and potentially liable for harm and loss suffered by a patient in terms of the new no-fault liability provision. The claimant (patient) can sue anyone in the supply chain in terms of this provision...

Consumer cost effectiveness of CO2 mitigation policies in restructured electricity markets

International Nuclear Information System (INIS)

Moore, Jared; Apt, Jay

2014-01-01

We examine the cost of carbon dioxide mitigation to consumers in restructured USA markets under two policy instruments, a carbon price and a renewable portfolio standard (RPS). To estimate the effect of policies on market clearing prices, we constructed hourly economic dispatch models of the generators in PJM and in ERCOT. We find that the cost effectiveness of policies for consumers is strongly dependent on the price of natural gas and on the characteristics of the generators in the dispatch stack. If gas prices are low (∼$4/MMBTU), a technology-agnostic, rational consumer seeking to minimize costs would prefer a carbon price over an RPS in both regions. Expensive gas (∼$7/MMBTU) requires a high carbon price to induce fuel switching and this leads to wealth transfers from consumers to low carbon producers. The RPS may be more cost effective for consumers because the added energy supply lowers market clearing prices and reduces CO 2 emissions. We find that both policies have consequences in capacity markets and that the RPS can be more cost effective than a carbon price under certain circumstances: continued excess supply of capacity, retention of nuclear generators, and high natural gas prices. (letter)

Consumer Behaviour in Online Shopping

OpenAIRE

Hasslinger, Anders; Hodzic, Selma; Opazo, Claudio

2008-01-01

The Internet has developed into a new distribution channel and online transactions are rapidly increasing. This has created a need to understand how the consumer perceives online purchases. The purpose of this dissertation was to examine if there are any particular factors that influence the online consumer. Primary data was collected through a survey that was conducted on students at the University of Kristianstad. Price, Trust and Convenience were identified as important factors. Price was ...

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

Tradeoffs between Price and Quality: How a Value Index Affects Preference Formation.

Science.gov (United States)

Creyer, Elizabeth H.; Ross, William T., Jr.

1997-01-01

Some of a group of 143 consumers were given a choice between higher-priced, higher-quality items and items with lower price and quality but higher value index (benefit/cost tradeoff); others were given price and quality information only. Consumers were more likely to choose lower-priced, higher-value options when the index information was…

Do consumers of manufactured cigarettes respond differently to price changes compared with their Roll-Your-Own counterparts? Evidence from New Zealand.

Science.gov (United States)

Tait, Peter; Rutherford, Paul; Saunders, Caroline

2015-05-01

Price-based mechanisms are an important tobacco cessation policy tool in New Zealand (NZ) and so measurement of smokers' reaction to price changes is crucial in determining efficacy of this approach. Although approximately two-thirds of NZ tobacco demand is for manufactured cigarettes (MC) and one-third is for Roll-Your-Own (RYO) tobacco, previous price elasticity estimates have ignored differences between RYO tobacco and MC consumers. We employ a seemingly unrelated regression econometric approach applied to quarterly data over the period 1991-2011 to estimate price elasticities of demand separately for MC and RYO tobacco. Estimate of price elasticity of demand for MC is -1.033, and -0.441 for RYO tobacco. RYO tobacco is an inferior good; a 1% increase in average weekly income is associated with a 0.8% reduction in demand. RYO tobacco is a substitute for MC; a 1% increase in the price of MC is associated with a 0.867% increase in demand for RYO tobacco. There is significantly different price responsiveness across the two tobacco product types. MC smokers react far more strongly to price increases compared with RYO tobacco smokers. These findings suggest that pricing mechanisms may be more effective for reducing MC demand than for RYO tobacco. However, substitution between products means that this pricing effect is muted by the uptake of RYO tobacco use. Cessation policy specific to RYO use should be designed to target this growing group. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://group.bmj.com/group/rights-licensing/permissions.

Pricing products: juxtaposing affordability with quality appeal.

Science.gov (United States)

1984-01-01

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

The evolution of gas price: gas assessment and perspectives; The evolution of gas price on the American, Asian and European markets; Assessment of the organised gas market; Assessment of gas market opening; Gas price: the point of view of consumers and providers; Tariff, the formula which cannot be found: a new stage in an endless history; The diversity of the world gas industry: the Mediterranean situation on prices

International Nuclear Information System (INIS)

Malherbe, Herve; Corbeau, Anne-Sophie; Lu, Long; Maire, Jacques; Verdier, Catherine; Bros, Thierry; Nyouki, Evariste; Astruc, Pierre; Katz, Richard; Jamme, Dominique; Rosier, Philippe; Salanson, Damien; Saniez, Thierry; Moraleda, Pedro; Le Gourrierec, M.

2012-01-01

After a brief introduction, this document contains the various contributions and interventions during round tables dealing with the evolution of gas price on American, Asian and European markets, an assessment of the organised gas market (model, references, members, and so on), an assessment of market gas opening, the point of view of consumers and providers on gas price. Then three articles address the issue of gas pricing in France, the developments of gas industry in the world (consumptions, production, perspectives for LNG) and the Mediterranean situation with respect to gas prices (trends and challenges)

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

International Nuclear Information System (INIS)

Kang, Linhong; Zarnikau, Jay

2009-01-01

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

Oil transformation sector modelling: price interactions

International Nuclear Information System (INIS)

Maurer, A.

1992-01-01

A global oil and oil product prices evolution model is proposed that covers the transformation sector incidence and the final user price establishment together with price interactions between gaseous and liquid hydrocarbons. High disparities among oil product prices in the various consumer zones (North America, Western Europe, Japan) are well described and compared with the low differences between oil supply prices in these zones. Final user price fluctuations are shown to be induced by transformation differences and competition; natural gas market is also modelled

Estimating Hedonic Prices for Stellenbosch wine

OpenAIRE

Sanja Lutzeyer

2008-01-01

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

Report of the Select Committee on Petroleum Product Pricing

International Nuclear Information System (INIS)

Dooks, B.

2004-01-01

An all-party Committee of the House of Legislative Assembly of Nova Scotia was established to investigate the pricing of petroleum products such as gasoline and home heating fuel. The Committee conducted public hearings in Halifax, Yarmouth, Bridgewater, Sydney, and Truro, in order to seek input from consumers, producers, suppliers and operators. The mandate of the Select Committee on Petroleum Product Pricing was to investigate the supply and pricing of fuels, including gasoline and home heating oil and to determine whether current prices are justified and fair. This investigation included an examination of the reasons for the current level of product prices; product supply; reasons for volatility in product prices; the rationale for differences in prices across different regions of the province; factors that affect the viability of low volume outlets in the rural and urban marketplace; factors that affect the viability of independent retail operators in the province; and, any evidence of predatory pricing practices at the wholesale and retail levels of the market. The Select Committee also made recommendations related to fair and reasonable product prices at the consumer level, retail and wholesale margins, as well as other actions that may be required to correct imbalances in the distribution and sales of these products to consumers in the province. 8 appendices

The true Price of Chocolate?

NARCIS (Netherlands)

Ingram, V.J.; Chocoloney, T.

2015-01-01

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

Intentions to consume omega-3 fatty acids: a comparison of protection motivation theory and ordered protection motivation theory.

Science.gov (United States)

Calder, Samuel Christian; Davidson, Graham R; Ho, Robert

2011-06-01

There has been limited research to date into methods for increasing people's intentions to use omega-3 polyunsaturated fatty acids (n-3 PUFA), which have been linked with decreased risk of suffering from numerous major diseases. The present study employed a cross-sectional design with 380 university students, employees, and visitors to investigate the efficacy of the protection motivation (PM) theory and the ordered protection motivation (OPM) theory, to predict behavioral intention to consume omega-3 rich foods and dietary supplements. Analysis of model fit indicated that both the PM model and the OPM model adequately represented the structural relationships between the cognitive variables and intention to consume n-3 PUFA. Further evaluation of relative fit of the two competing models suggested that the PM model might provide a better representation of decision-making following evaluation of the health threat of n-3 PUFA deficiency. Path analysis indicated that the component of coping appraisal was significantly associated with the behavioral intention to consume n-3 PUFA. Threat appraisal was found to be significantly associated with behavioral intention to consume n-3 PUFA only for the OPM model. Overall, the findings contribute to a better understanding of the roles that cognitive appraisal processes play in young and healthy individuals' protective health decision-making regarding consumption of n-3 PUFA. Implications of the findings and recommendations, which include (a) encouraging the consumption of n-3 PUFA as an effective barrier against the incidence of disease, and (b) effective health messaging that focuses on beliefs about the effectiveness of n-3 PUFA in reducing health risks, are discussed.

Retailer branding of consumer sales promotions. A major development in food marketing?

Science.gov (United States)

Hamlin, Robert P; Lindsay, Sophie; Insch, Andrea

2012-02-01

This article examines retailer branding of consumer price promotions. It discusses the mechanics of price promotions, consumers' reactions to them and the benefits that accrue to those that use them. It describes how large food retailers can now deploy branded price promotion systems that are fundamentally different to 'traditional' price promotions in both their mechanics and their effects on consumer decision processes. The article describes a field experiment that compared the performance of a food retailer's branded price promotion system with that of a generic (manufacturer) price promotion. The research involved three experiments that covered two food categories (sliced bread and margarine) and two levels of discount (10% and 20%). The results indicate that food retailers are able to attach powerful brands to their price promotion systems, and these brand heuristics can significantly increase consumer purchase intent relative to an equivalent generic/manufacturer promotion. This incremental heuristic effect was stable in both categories and for both levels of price discount studied. These results are consistent with the predictions of alternative, non-cognitive and heuristic based models of food consumer choice that have been published recently in 'Appetite'. Copyright © 2011 Elsevier Ltd. All rights reserved.

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.

7 CFR 1220.115 - Net market price.

Science.gov (United States)

2010-01-01

... AGREEMENTS AND ORDERS; MISCELLANEOUS COMMODITIES), DEPARTMENT OF AGRICULTURE SOYBEAN PROMOTION, RESEARCH, AND CONSUMER INFORMATION Soybean Promotion and Research Order Definitions § 1220.115 Net market price. The term net market price means— (a) except as provided in paragraph (b) of this section, the sales price, or...

Consumer choice between ethanol and gasoline: Lessons from Brazil and Sweden

Energy Technology Data Exchange (ETDEWEB)

Pacini, Henrique, E-mail: henrique.pacini@energy.kth.se; Silveira, Semida, E-mail: semida.silveira@energy.kth.se

2011-11-15

The introduction of flex-fuel vehicles since 2003 has made possible for Brazilian drivers to choose between high ethanol blends or gasoline depending on relative prices and fuel economies. In Sweden, flex-fuel fleets were introduced in 2005. Prices and demand data were examined for both Brazil and Sweden. Bioethanol has been generally the most cost-efficient fuel in Brazil, but not for all states. In any case, consumers in Brazil have opted for ethanol even when this was not the optimal economic choice. In Sweden, a different behavior was observed when falling gasoline prices made E85 uneconomical in late 2008. In a context of international biofuels expansion, the example of E85 in Sweden indicates that new markets could experience different consumer behavior than Brazil: demand falls rapidly with reduced price differences between ethanol and gasoline. At the same time, rising ethanol demand and lack of an international market with multiple biofuel producers could lead to higher domestic prices in Brazil. Once the limit curve is crossed, the consumer might react by shifting back to the usage of gasoline. - Research Highlights: > Brazil and Sweden both have infrastructure for high fuel ethanol blends. > Flex-fuel vehicles enable competition between ethanol and gasoline in fuel markets. > Data suggests that consumers make their fuel choice based mainly on prices. > Consumers in Sweden appear to be more price-sensitive than their Brazilian counterparts. > In the absence of international markets, high ethanol prices may drive consumers back to gasoline.

What have we learned from the experience of low oil prices?

International Nuclear Information System (INIS)

Alhajji, A.F.

2001-01-01

This article is an attempt to assess the effect of the low oil prices the world experienced in the mid-1980s, 1998 and early 1999. Such an assessment will help us predict the consequences of low oil prices in the future. The study focuses on the boon and bane of low oil prices from the producers' and consumers' points of view. Low oil prices, which are not related to technology and lower production costs, have depleted oil reserves, increased the income gap between consumers and producers, created friction among OPEC Members and between OPEC and non-OPEC producers, and led to the imposition of tariffs on oil imports in consuming countries. In addition, they have led to economic hardship in oil-producing countries, including declines in oil revenue, budget deficits, budget cuts and cancelled projects, borrowing and debts, deterioration in the balance of payments, negative economic growth, currency devaluations and political unrest. They have affected oil companies through reduced earnings, forced lay-offs of workers, lower investment and increased mergers. Despite these disadvantages, oil producers may benefit from low oil prices in the long run. They will increase demand, slow the process of substitution and decrease non-OPEC production. Consumers, on the other hand, will benefit from low oil prices, through higher economic growth and disposable income, and lower legislative and import costs. In addition, consumers will drive faster and longer. These benefits do not come without cost. Low prices will also increase the future vulnerability of consuming countries and lead to more dependence on oil at the expense of alternative energy sources, more dependence on oil imports, more waste, more environmental damage and less efficiency. After outlining the advantages and disadvantages, the study concludes that the disadvantages of low oil prices outweigh their benefits; that is, low oil prices have caused substantial damage. This is due to market inefficiencies and

Perceived price complexity of dynamic energy tariffs: An investigation of antecedents and consequences

International Nuclear Information System (INIS)

Layer, Patrick; Feurer, Sven; Jochem, Patrick

2017-01-01

Dynamic tariffs have the potential to contribute to a successful shift from conventional to renewable energies, but tapping this potential in Europe ultimately depends on residential consumers selecting them. This study proposes and finds that consumer reactions to dynamic tariffs depend on the level of perceived price complexity that represents the cognitive effort consumers must engage in to compute the overall bill amount. An online experiment conducted with a representative sample of 664 German residential energy consumers examines how salient characteristics of dynamic tariffs contribute to perceived price complexity. Subsequently, a structural equation model (SEM) reveals that the depth of information processing is central to understand how price complexity relates to consumers’ behavioral intentions. The results suggest that it will be challenging to convince European consumers to select complex dynamic tariffs under the current legal framework. Policymakers will need to find ways to make these tariffs more attractive. - Highlights: • Little is known about the processes by which consumers evaluate dynamic tariffs. • In this evaluation process perceived price complexity plays a central role. • Tariff type, price endings, and discount presentation format drive price complexity. • Perceived price complexity decreases the depth of information processing. • A decreased depth of information processing ultimately leads to lower behavioral intentions.

Product Variety, Consumer Preferences, and Web Technology: Can the Web of Data Reduce Price Competition and Increase Customer Satisfaction?

Science.gov (United States)

Hepp, Martin

E-Commerce on the basis of current Web technology has created fierce competition with a strong focus on price. Despite a huge variety of offerings and diversity in the individual preferences of consumers, current Web search fosters a very early reduction of the search space to just a few commodity makes and models. As soon as this reduction has taken place, search is reduced to flat price comparison. This is unfortunate for the manufacturers and vendors, because their individual value proposition for a particular customer may get lost in the course of communication over the Web, and it is unfortunate for the customer, because he/she may not get the most utility for the money based on her/his preference function. A key limitation is that consumers cannot search using a consolidated view on all alternative offers across the Web. In this talk, I will (1) analyze the technical effects of products and services search on the Web that cause this mismatch between supply and demand, (2) evaluate how the GoodRelations vocabulary and the current Web of Data movement can improve the situation, (3) give a brief hands-on demonstration, and (4) sketch business models for the various market participants.

Effect of a price discount and consumer education strategy on food and beverage purchases in remote Indigenous Australia: a stepped-wedge randomised controlled trial.

Science.gov (United States)

Brimblecombe, Julie; Ferguson, Megan; Chatfield, Mark D; Liberato, Selma C; Gunther, Anthony; Ball, Kylie; Moodie, Marj; Miles, Edward; Magnus, Anne; Mhurchu, Cliona Ni; Leach, Amanda Jane; Bailie, Ross

2017-02-01

Evidence is mounting that price discounts can be effective in improving diet. This study examined the effectiveness of a 20% price discount on food and drink purchases with and without consumer education in remote Indigenous Australia. A 20% discount on fruit, vegetables, water, and artificially sweetened soft drinks was applied for 24 weeks in 20 communities in remote Indigenous Australia where the community store was managed by the Arnhem Land Progress Aboriginal Corporation (ALPA) or Outback Stores (OBS) in a stepped-wedge randomised trial. Communities were randomly allocated to a fixed framework of five sets of four stratified by store association; ten stores (two in each set) were randomly assigned to receive consumer education. A store from each of the ALPA and OBS store groups (contained in separate opaque envelopes) was selected, and stores in turn continued to be consecutively allocated to the fixed store set framework, starting with the first store slot in the first store set, until all stores had been allocated. The effect of the discount on the weight of fruit and vegetables purchased (the primary endpoint) was assessed using weekly store sales data and mixed models per protocol. We did sensitivity analyses by repeating the analyses with the outliers included and repeating the analyses for the primary outcome measure removing each store one at a time. This trial was registered with Australian New Zealand Clinical Trials Registry, number ACTRN12613000694718. Weekly store sales data on all food and drink products sold in 20 stores were collected from July 1, 2012, to Dec 28, 2014. Price discount alone was associated with a 12·7% (95% CI 4·1-22·1) increase in purchases in grams of fruit and vegetables combined (primary outcome), and a 19·8% (6·2-35·1) increase post discount (after vs before); an effect of 12 g and 18 g per capita per day. Sensitivity analyses did not modify the results for the primary outcome measure. A 20% discount can only increase

How Much Will My Child's Operation Cost? Availability of Consumer Prices From US Hospitals for a Common Pediatric Orthopaedic Surgical Procedure.

Science.gov (United States)

Racimo, Allison R; Talathi, Nakul S; Zelenski, Nicole A; Wells, Lawrence; Shah, Apurva S

2018-05-02

Price transparency allows patients to make value-based health care decisions and is particularly important for individuals who are uninsured or enrolled in high-deductible health care plans. The availability of consumer prices for children undergoing orthopaedic surgery has not been previously investigated. We aimed to determine the availability of price estimates from hospitals in the United States for an archetypal pediatric orthopaedic surgical procedure (closed reduction and percutaneous pinning of a distal radius fracture) and identify variations in price estimates across hospitals. This prospective investigation utilized a scripted telephone call to obtain price estimates from 50 "top-ranked hospitals" for pediatric orthopaedics and 1 "non-top-ranked hospital" from each state and the District of Columbia. Price estimates were requested using a standardized script, in which an investigator posed as the mother of a child with a displaced distal radius fracture that needed closed reduction and pinning. Price estimates (complete or partial) were recorded for each hospital. The number of calls and the duration of time required to obtain the pricing information was also recorded. Variation was assessed, and hospitals were compared on the basis of ranking, teaching status, and region. Less than half (44%) of the 101 hospitals provided a complete price estimate. The mean price estimate for top-ranked hospitals ($17,813; range, $2742 to $49,063) was 50% higher than the price estimate for non-top-ranked hospitals ($11,866; range, $3623 to $22,967) (P=0.020). Differences in price estimates were attributable to differences in hospital fees (P=0.003), not surgeon fees. Top-ranked hospitals required more calls than non-top-ranked hospitals (4.4±2.9 vs. 2.8±2.3 calls, P=0.003). A longer duration of time was required to obtain price estimates from top-ranked hospitals than from non-top-ranked hospitals (8.2±9.4 vs. 4.1±5.1 d, P=0.024). Price estimates for pediatric

Increasing Dominance - the Role of Advertising, Pricing and Product Design

OpenAIRE

Kretschmer, Tobias; Rösner, Mariana

2010-01-01

Despite the empirical relevance of advertising strategies in concentrated markets, the economics literature is largely silent on the effect of persuasive advertising strategies on pricing, market structure and increasing (or decreasing) dominance. In a simple model of persuasive advertising and pricing with differentiated goods, we analyze the interdependencies between ex-ante asymmetries in consumer appeal, advertising and prices. Products with larger initial appeal to consumers will ...

Consumers' Privacy Choices in the Era of Big Data

NARCIS (Netherlands)

Prüfer, Jens; Dengler, Sebastian

2018-01-01

Recent progress in information technologies provides sellers with detailed knowledge about consumers' preferences, approaching perfect price discrimination in the limit. We construct a model where consumers with less strategic sophistication than the seller's pricing algorithm face a trade-off when

Equilibrium prices supported by dual price functions in markets with non-convexities

International Nuclear Information System (INIS)

Bjoerndal, Mette; Joernsten, Kurt

2004-06-01

The issue of finding market clearing prices in markets with non-convexities has had a renewed interest due to the deregulation of the electricity sector. In the day-ahead electricity market, equilibrium prices are calculated based on bids from generators and consumers. In most of the existing markets, several generation technologies are present, some of which have considerable non-convexities, such as capacity limitations and large start up costs. In this paper we present equilibrium prices composed of a commodity price and an uplift charge. The prices are based on the generation of a separating valid inequality that supports the optimal resource allocation. In the case when the sub-problem generated as the integer variables are held fixed to their optimal values possess the integrality property, the generated prices are also supported by non-linear price-functions that are the basis for integer programming duality. (Author)

Awareness of Consumer Protection Act among Doctors in Udaipur City, India.

Science.gov (United States)

Singh, K; Shetty, S; Bhat, N; Sharda, A; Agrawal, A; Chaudhary, H

2010-01-01

To compare the awareness of provisions of consumer protection act among dental and medical professionals in Udaipur city, Rajasthan, India. In a cross sectional study, a total of 448 professionals (253 males, 195 females) belonging to dental (222) and medical (226) categories were surveyed using a self administered structured questionnaire. The questionnaire comprised of 22 questions about the awareness of consumer protection art (CPA) and whether these professionals were following the recommendations of CPA. The student's t-test, ANOVA test, and Scheffe's test were used as tests of significance. The awareness scores were significantly higher for medical professionals compared with those of dental professionals. Similarly, postgraduates showed more awareness in both the professions and it was found that private practitioners significantly have more awareness than the academic sector. Though medical professionals have more awareness of CPA compared to dental professionals, considering the present scenario, better knowledge of CPA is necessary for both professionals in order to be on the safer side.

Consumers and their buying decision making based on price and information about corporate social responsibility (CSR. Case study: undergraduate students from a private university in mexico

Directory of Open Access Journals (Sweden)

Florina Guadalupe Arredondo Trapero

2010-10-01

Full Text Available The articles objective is to demonstrate that a socially responsible consumer is interested of being informed about Corporate Social Responsibility (CSR practices and is also willing to pay a higher price for a product made with CSR. Criteria of price as well as the interest of being informed about CSR practices were the two variables analyzed for the Chi-Square test. Even though CSR was declared as an important issue for the majority of participants, products made with CSR hasn’t achieved much influence in the buying decision making or in the need of being informed about the CSR practices. The need to create social consciousness for consumers to promote CSR practices through the buying decision making was also demonstrated.

The importance of price for the sale of ecological products

DEFF Research Database (Denmark)

Hansen, Jesper Kirkeby; Sørensen, Hans Christian

1993-01-01

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

Low Cost Silicon Coriolis' Gyroscope Paves the Way to Consumer IMU

Science.gov (United States)

Vigna, Benedetto; Pasolini, Fabio; de Nuccio, Roberto; Capovilla, Macro; Prandi, Luciano; Biganzoli, Fabio

During the last two years MEMS linear accelerometers have reinvented the way of playing a game, protecting your sensitive data on HDD, using your mobile devices smartly or making your washing machine less power hungry. Consumer and Industrial Markets have taken advantage from "The MEMS Consumerization Wave", driven by STMicroelectronics, which introduced a wide portfolio of two and three-axis motion sensors meeting customer requirements in terms of size, performances, quality and price.

The collection and interpretation of domestic accident data. A discussion on some aspects of the British consumer safety system.

Science.gov (United States)

Wilson, J R

1979-06-01

This article discusses the workings of a Consumer Safety System and identifies the problems of collecting and using domestic accident data. In the light of proposed changes in the civil law on product liability, particular consideration is given to the difficulties of providing evidence of consumer product involvement in domestic accidents. The paper is based on one read at the CBI Conference "Product Liability in Perspective", held at the Hilton Hotel, London, 30-31 March, 1977. The views expressed are those of the Institute for Consumer Ergonomics and are not necessarily those of the Department of Prices and Consumer Protection.

Achieving Consumer Purchase Payoffs: A Used Car Purchase.

Science.gov (United States)

Maynes, E. Scott; Maynes, Blanche R.

1997-01-01

This case study of a used car purchase illuminates the concepts and principles that should guide purchase decisions. It suggests that consumers should be aware there is little correlation between price and quality; competent shopping yields better quality; and consumers must decide their preferred trade-off between price and quality. (SK)

Controlling Electricity Consumption by Forecasting its Response to Varying Prices

DEFF Research Database (Denmark)

Corradi, Olivier; Ochsenfeld, Henning Peter; Madsen, Henrik

2013-01-01

electricity consumption using a one-way price signal. Estimation of the price-response is based on data measurable at grid level, removing the need to install sensors and communication devices between each individual consumer and the price-generating entity. An application for price-responsive heating systems......In a real-time electricity pricing context where consumers are sensitive to varying prices, having the ability to anticipate their response to a price change is valuable. This paper proposes models for the dynamics of such price-response, and shows how these dynamics can be used to control...... is studied based on real data, before conducting a control by price experiment using a mixture of real and synthetic data. With the control objective of following a constant consumption reference, peak heating consumption is reduced by nearly 5%, and 11% of the mean daily heating consumption is shifted....

Deregulated power prices: comparison of diurnal patterns

International Nuclear Information System (INIS)

Ying Li; Flynn, P.C.

2004-01-01

We examine electrical power price, and in particular its daily and average weekday vs. weekend pattern of change, for 14 deregulated markets. Power price in deregulated markets shows fundamentally different patterns. North American markets show a monotonic diurnal weekday price pattern, while all other markets studied show more than one price peak. Deregulated power markets differ in maximum vs. minimum daily average price and in average weekday to weekend price, in turn creating a different incentive for a consumer to time shift power consuming activities. Markets differ in the extent to which a small fraction of the days shapes the average diurnal pattern and value of price. Deregulated markets show a wide variation in the correlation between load and price. Some deregulated markets, most notably Britain and Spain, show patterns that are predictable and consistent, and hence that can encourage a customer to shape consumption behaviors. Other markets, for example South Australia, have patterns that are inconsistent and irregular, and hence are hard for a customer to interpret; a customer in such a market will have a higher incentive to escape risk through hedging mechanisms. (Author)

Deregulated power prices: comparison of diurnal patterns

International Nuclear Information System (INIS)

Li Ying; Flynn, Peter C.

2004-01-01

We examine electrical power price, and in particular its daily and average weekday vs. weekend pattern of change, for 14 deregulated markets. Power price in deregulated markets shows fundamentally different patterns. North American markets show a monotonic diurnal weekday price pattern, while all other markets studied show more than one price peak. Deregulated power markets differ in maximum vs. minimum daily average price and in average weekday to weekend price, in turn creating a different incentive for a consumer to time shift power consuming activities. Markets differ in the extent to which a small fraction of the days shapes the average diurnal pattern and value of price. Deregulated markets show a wide variation in the correlation between load and price. Some deregulated markets, most notably Britain and Spain, show patterns that are predictable and consistent, and hence that can encourage a customer to shape consumption behaviors. Other markets, for example South Australia, have patterns that are inconsistent and irregular, and hence are hard for a customer to interpret; a customer in such a market will have a higher incentive to escape risk through hedging mechanisms

The effect of costs and regulation on electricity prices

International Nuclear Information System (INIS)

Schlaf, E.P.

1991-01-01

Two distinct econometric tests were performed to determine if state price regulation of public utilities has had a measurable impact on retail electricity prices. The results of both tests agree that, during the 1971-1985 period, average national electricity prices in each of the three major consuming sectors and the four Census regions were below the level which would have been preferred by profit-maximizing monopolists. Electricity consumers received price benefits during the sample period as a result of regulation. The first test of the effectiveness of state price regulation used a 'revealed preference' approach by comparing the actual prices set by regulatory commissioners with prices and outcomes predicted by three competing theories of regulatory motivation. The second test of the effectiveness of price regulation combined traditional cost function inputs with regulatory variables in reduced-form price equations to determine whether the amount of regulatory intensity, as measured by the number of staff members per regulated utility, is associated with declining electricity prices and whether appointed commissioners allow higher prices than elected commissioners