Association of Cigarette Price Differentials With Infant Mortality in 23 European Union Countries.

Science.gov (United States)

Filippidis, Filippos T; Laverty, Anthony A; Hone, Thomas; Been, Jasper V; Millett, Christopher

2017-11-01

Raising the price of cigarettes by increasing taxation has been associated with improved perinatal and child health outcomes. Transnational tobacco companies have sought to undermine tobacco tax policy by adopting pricing strategies that maintain the availability of budget cigarettes. To assess associations between median cigarette prices, cigarette price differentials, and infant mortality across the European Union. A longitudinal, ecological study was conducted from January 1, 2004, to December 31, 2014, of infant populations in 23 countries (comprising 276 subnational regions) within the European Union. Median cigarette prices and the differential between these and minimum cigarette prices were obtained from Euromonitor International. Pricing differentials were calculated as the proportions (%) obtained by dividing the difference between median and minimum cigarette price by median price. Prices were adjusted for inflation. Annual infant mortality rates. Associations were assessed using linear fixed-effect panel regression models adjusted for smoke-free policies, gross domestic product, unemployment rate, education, maternal age, and underlining temporal trends. Among the 53 704 641 live births during the study period, an increase of €1 (US $1.18) per pack in the median cigarette price was associated with a decline of 0.23 deaths per 1000 live births in the same year (95% CI, -0.37 to -0.09) and a decline of 0.16 deaths per 1000 live births the following year (95% CI, -0.30 to -0.03). An increase of 10% in the price differential between median-priced and minimum-priced cigarettes was associated with an increase of 0.07 deaths per 1000 live births (95% CI, 0.01-0.13) the following year. Cigarette price increases across 23 European countries between 2004 and 2014 were associated with 9208 (95% CI, 8601-9814) fewer infant deaths; 3195 (95% CI, 3017-3372) infant deaths could have been avoided had there been no cost differential between the median-priced and

Loss Aversion and Time-Differentiated Electricity Pricing

Energy Technology Data Exchange (ETDEWEB)

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

2015-06-01

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

Research on choices of methods of internet of things pricing based on variation of perceived value of service

Directory of Open Access Journals (Sweden)

Wei Li

2013-03-01

Full Text Available Purpose: With the rapid progress of Internet of Things technology, the information service of IoT has got unprecedented development, and plays an increasingly important role in real life. For the increasing demand of information service, the pricing of information service becomes more important. This paper aims to analyze the strategic options and payoff function between information provider and intermediaries based on Stackelberg game. Firstly, we describe information service delivery method based on the Internet of Things specific function. Secondly, we calculate the consumer demand for the information service. Finally, we explain two kinds of strategic options by the game theory, and then discuss the optimal pricing method of information services based on profit maximization.Design/methodology/approach: To achieve this objective, Considering the consumer perceived value of Internet of Things Service changing, we establish a Stackelberg model in which the supplier is the leader followed by the middleman. Then, we compare the advantages of using individual pricing with that of bundling pricing.Findings: The results show that whether information providers adopt bundling pricing strategy or individual pricing strategy depends on the cost of perception equipment, if information providers want to adopt individual pricing strategy, the variation of consumers’ perception value of information services must meet certain conditions.Research limitations/implications: the providers make price for the information service, in addition to continuously improve the quality of information service, it also devotes resources to tapping and understanding market information, such as the sensor device price, the variation of perception value of information services and so on, so as to create competitive advantage. This paper is just a preliminary model, it does not take into account the effect of mixed bundling.Originality/value: In this research, a new model for

The Internet and the Future of Financial Services: Transparency, Differential Pricing and Disintermediation

OpenAIRE

Eric K. Clemons; Lorin M. Hitt

2000-01-01

The Internet has had a profound effect on the financial service sector, dramatically changing the cost and capabilities for marketing, distributing and servicing financial products and enabling new types of products and services to be developed. This is especially true for retail financial services where widespread adoption of the Internet, the standardization provided by the world-wide web, and the low cost of Internet communications and transactions have made it possible to reach customers ...

Differential pricing of new pharmaceuticals in lower income European countries.

Science.gov (United States)

Kaló, Zoltán; Annemans, Lieven; Garrison, Louis P

2013-12-01

Pharmaceutical companies adjust the pricing strategy of innovative medicines to the imperatives of their major markets. The ability of payers to influence the ex-factory price of new drugs depends on country population size and income per capita, among other factors. Differential pricing based on Ramsey principles is a 'second-best' solution to correct the imperfections of the global market for innovative pharmaceuticals, and it is also consistent with standard norms of equity. This analysis summarizes the boundaries of differential pharmaceutical pricing for policymakers, payers and other stakeholders in lower-income countries, with special focus on Central-Eastern Europe, and describes the feasibility and implications of potential solutions to ensure lower pharmaceutical prices as compared to higher-income countries. European stakeholders, especially in Central-Eastern Europe and at the EU level, should understand the implications of increased transparency of pricing and should develop solutions to prevent the limited accessibility of new medicines in lower-income countries.

Principles, effects and problems of differential power pricing policy for energy intensive industries in China

International Nuclear Information System (INIS)

Lin, Boqiang; Liu, Jianghua

2011-01-01

The Chinese government canceled the preferential power pricing policies for energy intensive industries and imposed a reverse differential pricing policy in order to promote energy efficiency and the adjustment and upgrading of the industrial structure. This article analyzes the principles of China's differential power pricing policy, the externalities of energy and the modified Ramsey pricing rule, and also points out the policy implications of China's differential power pricing policy. In our samples, we investigate eight power intensive products in the Henan province with respect to their power consumption per unit (power intensity), electricity cost, total cost, the electricity tariff and profit, in order to test the effects of the differential power pricing policy. The results show that the primary effect of the differential power pricing policy is that enterprises decrease their total costs and improve their productive efficiencies in advance, in anticipating a higher electricity tariff. -- Research highlights: → The article suggests a modified Ramsey pricing model where demand elasticity is replaced by elasticity of energy consumption and polluting elasticity to internalize the negative externality of high energy intensive industry. → The article assesses the effects of differential pricing policy through on-site survey of high energy intensive industries in Henan province and analyzes the reasons behind those effects. → The article presents the lessons and policy implications of implementing differential pricing policy aimed at energy conservation and emission reduction.

Dynamic Pricing Competition with Strategic Customers Under Vertical Product Differentiation

OpenAIRE

Qian Liu; Dan Zhang

2013-01-01

We consider dynamic pricing competition between two firms offering vertically differentiated products to strategic customers who are intertemporal utility maximizers. We show that price skimming arises as the unique pure-strategy Markov perfect equilibrium in the game under a simple condition. Our results highlight the asymmetric effect of strategic customer behavior on quality-differentiated firms. Even though the profit of either firm decreases as customers become more strategic, the low-qu...

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

Directory of Open Access Journals (Sweden)

Ferran Sabate

2009-04-01

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

Price smarter on the Net.

Science.gov (United States)

Baker, W; Marn, M; Zawada, C

2001-02-01

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

Internet Economics

DEFF Research Database (Denmark)

Henten, Anders; Skouby, Knud Erik; Øst, Alexander Gorm

1998-01-01

Article descibing and analysing the influence of the commercialisation of Internet on end-user and interconnect pricing.......Article descibing and analysing the influence of the commercialisation of Internet on end-user and interconnect pricing....

A study of pricing and trading model of Blockchain & Big data-based Energy-Internet electricity

Science.gov (United States)

Fan, Tao; He, Qingsu; Nie, Erbao; Chen, Shaozhen

2018-01-01

The development of Energy-Internet is currently suffering from a series of issues, such as the conflicts among high capital requirement, low-cost, high efficiency, the spreading gap between capital demand and supply, as well as the lagged trading & valuation mechanism, any of which would hinder Energy-Internet's evolution. However, with the development of Blockchain and big-data technology, it is possible to work out solutions for these issues. Based on current situation of Energy-Internet and its requirements for future progress, this paper demonstrates the validity of employing blockchain technology to solve the problems encountered by Energy-Internet during its development. It proposes applying the blockchain and big-data technologies to pricing and trading energy products through Energy-Internet and to accomplish cyber-based energy or power's transformation from physic products to financial assets.

International trade and determinants of price differentials of insulin medicine.

Science.gov (United States)

Helble, Matthias; Aizawa, Toshiaki

2017-02-01

Empirical studies on pharmaceutical pricing across countries have found evidence that prices vary according to per capita income. These studies are typically based on survey data from a subset of countries and cover only one year. In this paper, we study the international trade and price of insulin by using detailed trade data for 186 importing countries from 1995 to 2013. With almost 12,000 observations, our study constitutes the largest comparative study on pharmaceutical pricing conducted so far. The large dataset allows us to uncover new determinants of price differentials. Our analysis shows that the international trade of insulin increased substantially over this time period, clearly outpacing the increasing prevalence of diabetes. Using the unit values of imports, we also study the determinants of price differentials between countries. Running various panel regressions, we find that the differences in prices across countries can be explained by the following factors: First, corroborating earlier studies, we find that per capita GDP is positively correlated with the unit price of insulin. Second, the price of insulin drugs originating from Organisation for Economic Co-operation and Development countries tends to be substantially higher than for those imported from developing countries. Third, more intense competition among suppliers leads to lower insulin prices. Fourth, higher out-of-pocket payments for health care are associated with higher prices. Finally, higher volumes and tariffs seem to result in lower unit prices. © The Author 2016. Published by Oxford University Press in association with The London School of Hygiene and Tropical Medicine. All rights reserved. For permissions, please e-mail: journals.permissions@oup.com.

Screening for Internet dependence: do the proposed diagnostic criteria differentiate normal from dependent Internet use?

Science.gov (United States)

Dowling, Nicki A; Quirk, Kelly L

2009-02-01

There is continued discussion of including Internet dependence as a diagnosis in future editions of the Diagnostic and Statistical Manual of Mental Disorders. The primary aim of the study was to evaluate the utility of the proposed diagnostic criteria for Internet dependence as measured by Young's Diagnostic Questionnaire (YDQ). Although the YDQ does not provide any measure of severity, there is emerging recognition that some Internet users may display less severe or at risk Internet dependence. The degree to which the cutoff of 5 out of 8 criteria is appropriate to differentiate nondependent from dependent Internet use was evaluated by comparing the Internet usage and psychological dysfunction of 424 university students endorsing 3 and 4 diagnostic criteria (at-risk Internet dependence) to those endorsing less than 3 criteria (nondependent) and those endorsing 5 or more criteria (Internet dependence). The findings suggest that the proposed diagnostic criteria do not adequately discriminate individuals scoring 3 or 4 from those currently classified as Internet dependent. The implications of the findings for the assessment, diagnosis, and treatment of Internet dependence are discussed.

Using Partial Differential Equations for Pricing of Goods and Services

Directory of Open Access Journals (Sweden)

Traykov Metodi

2016-06-01

Full Text Available This article is based on the methodology of comparative analysis, using an innovative approach for pricing of various goods and services. Benchmarking is the continuous search to find and adapt better pricing methods that leading to increased profits. We will consider the numerical solution of partial differential equations, based on Black-Scholes model for pricing of goods and services within European option. Also, we will present formulation and numerical behavior of explicit and implicit methods that can be use in pricing for company assets within European option.

Differential resting-state EEG patterns associated with comorbid depression in Internet addiction.

Science.gov (United States)

Lee, Jaewon; Hwang, Jae Yeon; Park, Su Mi; Jung, Hee Yeon; Choi, Sam-Wook; Kim, Dai Jin; Lee, Jun-Young; Choi, Jung-Seok

2014-04-03

Many researchers have reported a relationship between Internet addiction and depression. In the present study, we compared the resting-state quantitative electroencephalography (QEEG) activity of treatment-seeking patients with comorbid Internet addiction and depression with those of treatment-seeking patients with Internet addiction without depression, and healthy controls to investigate the neurobiological markers that differentiate pure Internet addiction from Internet addiction with comorbid depression. Thirty-five patients diagnosed with Internet addiction and 34 age-, sex-, and IQ-matched healthy controls were enrolled in this study. Patients with Internet addiction were divided into two groups according to the presence (N=18) or absence (N=17) of depression. Resting-state, eye-closed QEEG was recorded, and the absolute and relative power of the brain were analyzed. The Internet addiction group without depression had decreased absolute delta and beta powers in all brain regions, whereas the Internet addiction group with depression had increased relative theta and decreased relative alpha power in all regions. These neurophysiological changes were not related to clinical variables. The current findings reflect differential resting-state QEEG patterns between both groups of participants with Internet addiction and healthy controls and also suggest that decreased absolute delta and beta powers are neurobiological markers of Internet addiction. Copyright © 2013 Elsevier Inc. All rights reserved.

Modeling Long-term Behavior of Stock Market Prices Using Differential Equations

Science.gov (United States)

Yang, Xiaoxiang; Zhao, Conan; Mazilu, Irina

2015-03-01

Due to incomplete information available in the market and uncertainties associated with the price determination process, the stock prices fluctuate randomly during a short period of time. In the long run, however, certain economic factors, such as the interest rate, the inflation rate, and the company's revenue growth rate, will cause a gradual shift in the stock price. Thus, in this paper, a differential equation model has been constructed in order to study the effects of these factors on the stock prices. The model obtained accurately describes the general trends in the AAPL and XOM stock price changes over the last ten years.

Differential electricity pricing and energy efficiency in South Africa

International Nuclear Information System (INIS)

Kohler, Marcel

2014-01-01

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

Pricing Models for Dual-channel Reverse Supply Chain Considering Regional Differences under “Internet Recycling” Mode in China

Science.gov (United States)

Wu, Di; Li, Peng; Chen, Juhong

2018-01-01

In recent years, the Internet technology has been deeply influencing recycling industry to make it more intelligent and interconnected. However, most existing papers on “Internet Recycling” neglected the problem of pricing strategy under online and offline channels for different levels of recyclers. Moreover, the effect of regional differences has been emphasized a lot in dual-channel forward supply chain, but recycling field has seldom been concerned about it. In this paper, a recycling system consisting of one recycling center and several third-party recyclers (TPR) was investigated based on traditional mode and dual-channel mode. The dual-channel reverse supply chain model is transformed from traditional mode by the introduction of online channel. It involves two recycling modes, as recycling centre for online recovery and “Recycling center+TPR” for offline recovery. By establishing pricing strategies based on Stackelberg game model, the impacts of regional differences were analysed. Finally, numerical analysis was given to illustrate the effectiveness of the pricing mechanisms and strategies.

Differential Pricing in Undergraduate Education: Effects on Degree Production by Field

Science.gov (United States)

Stange, Kevin

2015-01-01

In the face of declining state support, many universities have introduced differential pricing by undergraduate program as an alternative to across-the-board tuition increases. This practice aligns price more closely with instructional costs and students' ability to pay postgraduation. Exploiting the staggered adoption of these policies…

Splitting the EU ETS. Strengthening the scheme by differentiating its sectoral carbon prices

Energy Technology Data Exchange (ETDEWEB)

Sijm, J.P.M.; Wetzels, W.; Koutstaal, P.R. [ECN Policy Studies, Petten (Netherlands); Pollitt, H.; Chewpreecha, U. [Cambridge Econometrics, Cambridge (United Kingdom)

2013-05-15

The current EU ETS faces a dilemma. To induce low-carbon investments in the power sector, higher carbon prices are needed, while low carbon prices are needed to reduce the risk of carbon leakage and loss of industrial competitiveness. This study analyses the effects and implications of two alternative policy options to address this price dilemma, i.e. (1) splitting the ETS into two separated sector regimes: one more ambitious regime with a relatively high carbon price for the power sector and a less ambitious regime with a relatively low carbon price for the other sectors covered by the EU ETS (called 'industry'), and (2) imposing a carbon tax on power sector emissions additional to a single ETS carbon price for both industry and the power sector. The study uses modelling scenarios and qualitative assessments to analyse the effects and implications of these policy options. It concludes that, in a world with unequal carbon prices, there is a case for differentiating ETS sectoral carbon prices and that the first-best option to achieve this differentiation is to impose a carbon tax on power sector emissions additional to a single ETS carbon price.

Differential Responsiveness to Cigarette Price by Education and Income among Adult Urban Chinese Smokers

Science.gov (United States)

Huang, Jidong; Zheng, Rong; Chaloupka, Frank J.; Fong, Geoffrey T.; Jiang, Yuan

2015-01-01

Background There are few studies that examine the impact of tobacco tax and price policies in China. In addition, very little is known about the differential responses to tax and price increases based on socioeconomic status in China. Objective The goal of this study is to estimate the conditional cigarette consumption price elasticity among adult urban smokers in China using individual level longitudinal survey data. We also examine the differential responses to cigarette price increases among groups with different income and/or educational levels. Methods Multivariate analyses using the general estimating equations (GEE) method were conducted to estimate the conditional cigarette demand price elasticity using data from the International Tobacco Control (ITC) China Survey, a longitudinal survey of adult smokers in seven cities in China. The first three waves of the ITC China Survey data were used in this analysis. Analyses based on subsample by education and income were conducted. Findings Our results show that overall conditional cigarette demand price elasticity ranges from −0.12 to −0.14, implying a 10% increase in cigarette price would result in a reduction in cigarette consumption among adult urban Chinese smokers by 1.2% to 1.4%. No differential responses to cigarette price increase were found across education levels. The price elasticity estimates do not differ between high income smokers and medium income smokers. However, cigarette consumption among low income smokers did not seem to decrease after a price increase, at least among those who continued to smoke. Conclusion Relative to many other low- and middle-income countries, cigarette consumption among Chinese adult smokers is not very sensitive to changes in cigarette prices. The total impact of cigarette price increase would be larger if its impact on smoking initiation and cessation, as well as the price-reducing behaviors such as brand switching and trading down, were taken into account. PMID

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.

Differential psychological impact of internet exposure on Internet addicts.

Directory of Open Access Journals (Sweden)

Michela Romano

Full Text Available The study explored the immediate impact of internet exposure on the mood and psychological states of internet addicts and low internet-users. Participants were given a battery of psychological tests to explore levels of internet addiction, mood, anxiety, depression, schizotypy, and autism traits. They were then given exposure to the internet for 15 min, and re-tested for mood and current anxiety. Internet addiction was associated with long-standing depression, impulsive nonconformity, and autism traits. High internet-users also showed a pronounced decrease in mood following internet use compared to the low internet-users. The immediate negative impact of exposure to the internet on the mood of internet addicts may contribute to increased usage by those individuals attempting to reduce their low mood by re-engaging rapidly in internet use.

Differential psychological impact of internet exposure on Internet addicts.

Science.gov (United States)

Romano, Michela; Osborne, Lisa A; Truzoli, Roberto; Reed, Phil

2013-01-01

The study explored the immediate impact of internet exposure on the mood and psychological states of internet addicts and low internet-users. Participants were given a battery of psychological tests to explore levels of internet addiction, mood, anxiety, depression, schizotypy, and autism traits. They were then given exposure to the internet for 15 min, and re-tested for mood and current anxiety. Internet addiction was associated with long-standing depression, impulsive nonconformity, and autism traits. High internet-users also showed a pronounced decrease in mood following internet use compared to the low internet-users. The immediate negative impact of exposure to the internet on the mood of internet addicts may contribute to increased usage by those individuals attempting to reduce their low mood by re-engaging rapidly in internet use.

Fractional Order Stochastic Differential Equation with Application in European Option Pricing

Directory of Open Access Journals (Sweden)

Qing Li

2014-01-01

Full Text Available Memory effect is an important phenomenon in financial systems, and a number of research works have been carried out to study the long memory in the financial markets. In recent years, fractional order ordinary differential equation is used as an effective instrument for describing the memory effect in complex systems. In this paper, we establish a fractional order stochastic differential equation (FSDE model to describe the effect of trend memory in financial pricing. We, then, derive a European option pricing formula based on the FSDE model and prove the existence of the trend memory (i.e., the mean value function in the option pricing formula when the Hurst index is between 0.5 and 1. In addition, we make a comparison analysis between our proposed model, the classic Black-Scholes model, and the stochastic model with fractional Brownian motion. Numerical results suggest that our model leads to more accurate and lower standard deviation in the empirical study.

A Two-Sided Market Model of Optimal Price Structure for Instant Messenger

Directory of Open Access Journals (Sweden)

Jun Xu

2013-01-01

Full Text Available Instant messenger (IM is one of the most popular Internet applications all over the world. This paper examines the pricing problem of IM based on two-sided market model. IM serves as a two-sided platform, which gets both Internet users and advertisers on board. This paper concludes that IM operator adopts a heavily skewed price structure that favors IM users both under monopolistic case and under horizontal differentiated duopolistic case. When advertising revenue is large enough relatively to marginal cost for serving IM users, IM users can enjoy free service provided by IM operators. The competitive equilibrium of duopolistic case is not necessarily symmetric when advertisers choose singlehoming. Even in the symmetric equilibrium platform would rather deter all advertisers.

Differential Psychological Impact of Internet Exposure on Internet Addicts

OpenAIRE

Romano, Michela; Osborne, Lisa A.; Truzoli, Roberto; Reed, Phil

2013-01-01

The study explored the immediate impact of internet exposure on the mood and psychological states of internet addicts and low internet-users. Participants were given a battery of psychological tests to explore levels of internet addiction, mood, anxiety, depression, schizotypy, and autism traits. They were then given exposure to the internet for 15 min, and re-tested for mood and current anxiety. Internet addiction was associated with long-standing depression, impulsive nonconformity, and aut...

Real-Time Pricing Strategy Based on the Stability of Smart Grid for Green Internet of Things

Directory of Open Access Journals (Sweden)

Huwei Chen

2017-01-01

Full Text Available The ever increasing demand of energy efficiency and the strong awareness of environment have led to the enhanced interests in green Internet of things (IoTs. How to efficiently deliver power, especially, with the smart grid based on the stability of network becomes a challenge for green IoTs. Therefore, in this paper we present a novel real-time pricing strategy based on the network stability in the green IoTs enabled smart grid. Firstly, the outage is analyzed by considering the imbalance of power supply and demand as well as the load uncertainty. Secondly, the problem of power supply with multiple-retailers is formulated as a Stackelberg game, where the optimal price can be obtained with the maximal profit for retailers and users. Thirdly, the stability of price is analyzed under the constraints. In addition, simulation results show the efficiency of the proposed strategy.

Internet from Above.

Science.gov (United States)

Sullivan, Laura

1998-01-01

Explains how fast and reliable Internet access can be obtained by using satellite communications based on experiences at a high school in Mississippi. Discusses Internet communications; how it was implemented in the media center; local area networks; the need for Ethernet-based connection to the Internet; and price. (LRW)

Internet Economics IV

Science.gov (United States)

2004-08-01

edts.): Internet Economics IV Technical Report No. 2004-04, August 2004 Information Systems Laboratory IIS, Departement of Computer Science University of...level agreements (SLA), Information technology (IT), Internet address, Internet service provider 16. PRICE CODE 17. SECURITY CLASSIFICATION 18... technology and its economic impacts in the Internet world today. The second talk addresses the area of AAA protocol, summarizing authentication

The consequences of price differentiation for regional development in Poland

Directory of Open Access Journals (Sweden)

Grzegorz Przekota

2017-07-01

Full Text Available Each region in Poland has a different economic potential due to its own specific features. Taking account of the specific nature of individual regions is important for the management of the country as a whole and of its particular regions. Existing disparities in the economic development may lead to many negative phenomena, such as internal migration or regional marginalization. Excessive price and income inequalities may weaken economic growth throughout the country. It is important for the coherence of the whole country that the disparities between regions are not too big. The study determines the consequences of price differentiation for regional development in Poland. The analysis was conducted using the coefficient of variation, correlation coefficient, regression coefficient and medium pace. The regions differ in terms of development, dynamic growth and wages. However, prices are much less diverse.

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.

How Much Is Too Much to Pay for Internet Access? A Behavioral Economic Analysis of Internet Use.

Science.gov (United States)

Broadbent, Julie; Dakki, Michelle A

2015-08-01

The popularity of online recreational activities, such as social networking, has dramatically increased the amount of time spent on the Internet. Excessive or inappropriate use of the Internet can result in serious adverse consequences. The current study used a behavioral economic task to determine if the amount of time spent online by problematic and nonproblematic users can be modified by price. The Internet Purchase Task was used to determine how much time undergraduate students (N=233) would spend online at 13 different prices. Despite high demand for Internet access when access was free, time spent online by both problematic and nonproblematic users decreased dramatically, even at low prices. These results suggest that the amount of time spent online may be modified by having a tangible cost associated with use, whereas having free access to the Internet may encourage excessive, problematic use.

Differential Responses to Food Price Changes by Personal Characteristic: A Systematic Review of Experimental Studies.

Science.gov (United States)

Mizdrak, Anja; Scarborough, Peter; Waterlander, Wilma E; Rayner, Mike

2015-01-01

Fiscal interventions to improve population diet have been recommended for consideration by many organisations including the World Health Organisation and the United Nations and policies such as sugar-sweetened beverage taxes have been implemented at national and sub-national levels. However, concerns have been raised with respect to the differential impact of fiscal interventions on population sub-groups and this remains a barrier to implementation. To examine how personal characteristics (such as socioeconomic status, sex, impulsivity, and income) moderate changes in purchases of targeted foods in response to food and beverage price changes in experimental settings. Systematic review. Online databases (PubMed, EMBASE, Web of Science, EconLit and PsycInfo), reference lists of previous reviews, and additional data from study authors. We included randomised controlled trials where food and beverage prices were manipulated and reported differential effects of the intervention on participant sub-groups defined according to personal characteristics. Where possible, we extracted data to enable the calculation of price elasticities for the target foods by personal characteristic. 8 studies were included in the review. Across studies, the difference in price elasticity varied from 0.02 to 2.43 between groups within the same study. 11 out of the total of 18 comparisons of own-price elasticity estimates by personal characteristic differed by more than 0.2 between groups. Income related factors were the most commonly considered and there was an indication that own-price elasticity estimates do vary by income but the direction of this effect was not clear. Experimental studies provide an opportunity to examine the differential effects of fiscal measures to improve population diets. Patterns in price sensitivity by personal characteristics are complex. General conclusions pertaining to the effects of personal characteristics on price sensitivity are not supported by the

Security Pricing as an Enabler of Cyber-Insurance: A First Look at Differentiated Pricing Markets

OpenAIRE

Pal, Ranjan; Golubchik, Leana; Psounis, Konstantinos; Hui, Pan

2016-01-01

Despite the promising potential of network risk management services (e.g., cyber-insurance) to improve information security, their deployment is relatively scarce, primarily due to such service companies being unable to guarantee profitability. As a novel approach to making cyber-insurance services more viable, we explore a symbiotic relationship between security vendors (e.g., Symantec) capable of price differentiating their clients, and cyber-insurance agencies having possession of informat...

Pricing the Services in Dynamic Environment: Agent Pricing Model

Science.gov (United States)

Žagar, Drago; Rupčić, Slavko; Rimac-Drlje, Snježana

New Internet applications and services as well as new user demands open many new issues concerning dynamic management of quality of service and price for received service, respectively. The main goals of Internet service providers are to maximize profit and maintain a negotiated quality of service. From the users' perspective the main goal is to maximize ratio of received QoS and costs of service. However, achieving these objectives could become very complex if we know that Internet service users might during the session become highly dynamic and proactive. This connotes changes in user profile or network provider/s profile caused by high level of user mobility or variable level of user demands. This paper proposes a new agent based pricing architecture for serving the highly dynamic customers in context of dynamic user/network environment. The proposed architecture comprises main aspects and basic parameters that will enable objective and transparent assessment of the costs for the service those Internet users receive while dynamically change QoS demands and cost profile.

Browsing for the Best Internet Access Provider?

Science.gov (United States)

Weil, Marty

1996-01-01

Highlights points to consider when choosing an Internet Service Provider. Serial Line Internet Protocol (SLIP) and Point to Point Protocol (PPP) are compared regarding price, performance, bandwidth, speed, and technical support. Obtaining access via local, national, consumer online, and telephone-company providers is discussed. A pricing chart and…

Price and Product Pooling: Impact on Development and Operation of Differentiated Value Chains

OpenAIRE

Hobbs, Jill E.; Kerr, William A.

2006-01-01

Price pooling has long been used as a means to deal with risk in the marketing of agricultural commodities. For commodities, product pooling may also generate potential benefits through economies of scale or the provision of market power. Yet there has also been a growing interest in product differentiation and the development of value chains as a means to increase returns to farmers. This article explores the question of whether price or product pooling is compatible with a strategy of pro-a...

An algorithm for on-line price discrimination

NARCIS (Netherlands)

D.D.B. van Bragt; D.J.A. Somefun (Koye); E. Kutschinski; J.A. La Poutré (Han)

2002-01-01

textabstractThe combination of on-line dynamic pricing with price discrimination can be very beneficial for firms operating on the Internet. We therefore develop an on-line dynamic pricing algorithm that can adjust the price schedule for a good or service on behalf of a firm. This algorithm (a

Differential responsiveness to cigarette price by education and income among adult urban Chinese smokers: findings from the ITC China Survey.

Science.gov (United States)

Huang, Jidong; Zheng, Rong; Chaloupka, Frank J; Fong, Geoffrey T; Jiang, Yuan

2015-07-01

Few studies have examined the impact of tobacco tax and price policies in China. In addition, very little is known about the differential responses to tax and price increases based on socioeconomic status in China. To estimate the conditional cigarette consumption price elasticity among adult urban smokers in China and to examine the differential responses to cigarette price increases among groups with different income and/or educational levels. Multivariate analyses employing the general estimating equations method were conducted using the first three waves of the International Tobacco Control (ITC) China Survey. Analyses based on subsample by education and income were conducted. Conditional cigarette demand price elasticity ranges from -0.12 to -0.14. No differential responses to cigarette price increase were found across education levels. The price elasticity estimates do not differ between high-income smokers and medium-income smokers. Cigarette consumption among low-income smokers did not decrease after a price increase, at least among those who continued to smoke. Relative to other low-income and middle-income countries, cigarette consumption among Chinese adult smokers is not very sensitive to changes in cigarette prices. The total impact of cigarette price increase would be larger if its impact on smoking initiation and cessation, as well as the price-reducing behaviours such as brand switching and trading down, were taken into account. 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.

Content analysis of e-cigarette products, promotions, prices and claims on Internet tobacco vendor websites, 2013-2014.

Science.gov (United States)

Williams, Rebecca S; Derrick, Jason; Liebman, Aliza K; LaFleur, Kevin

2017-11-03

To identify the population of Internet e-cigarette vendors (IEVs) and conduct content analysis of products sold and IEVs' promotional, claims and pricing practices. Multiple sources were used to identify IEV websites, primarily complex search algorithms scanning over 180 million websites. In 2013, 32 446 websites were manually screened, identifying 980 IEVs, with the 281 most popular selected for content analysis. This methodology yielded 31 239 websites for manual screening in 2014, identifying 3096 IEVs, with 283 selected for content analysis. While the majority of IEVs (71.9%) were US based in 2013, this dropped to 64.3% in 2014 (plocated in at least 38 countries, and 12% providing location indicators reflecting two or more countries, complicating jurisdictional determinations.Reflecting the retail market, IEVs are transitioning from offering disposable and 'cigalike' e-cigarettes to larger tank and "mod" systems. Flavored e-cigarettes were available from 85.9% of IEVs in 2014, with fruit and candy flavors being most popular. Most vendors (76.5%) made health claims in 2013, dropping to 43.1% in 2014. Some IEVs featured conflicting claims about whether or not e-cigarettes aid in smoking cessation. There was wide variation in pricing, with e-cigarettes available as inexpensive as one dollar, well within the affordable range for adults and teens. The number of Internet e-cigarette vendors grew threefold from 2013 to 2014, far surpassing the number of Internet cigarette vendors (N=775) at the 2004 height of that industry. New and expanded regulations for online e-cigarette sales are needed, including restrictions on flavors and marketing claims. © Article author(s) (or their employer(s) unless otherwise stated in the text of the article) 2017. All rights reserved. No commercial use is permitted unless otherwise expressly granted.

Product differentiation, competition and prices in the retail gasoline industry

Science.gov (United States)

Manuszak, Mark David

This thesis presents a series of studies of the retail gasoline industry using data from Hawaii. This first chapter examines a number of pricing patterns in the data and finds evidence that gasoline stations set prices which are consistent with a number of forms of price discrimination. The second chapter analyzes various patterns of cross-sectional, cross-market and intertemporal variation in the data to investigate their suitability for use in structural econometric estimation. The remainder of the dissertation consists of specification and estimation of a structural model of supply and demand for retail gasoline products sold at individual gasoline stations. This detailed micro-level analysis permits examination of a number of important issues in the industry, most notably the importance of spatial differentiation in the industry. The third chapter estimates the model and computes new equilibria under a number of asymmetric taxation regimes in order to examine the impact of such tax policies on producer and consumer welfare as well as tax revenue. The fourth chapter examines whether there is any evidence of tacitly collusive behavior in the Hawaiian retail gasoline industry and concludes that, in fact, conduct is fairly competitive in this industry and market.

Study of Internet advertising pricing model --a hypothetical qualitative model%网络广告定价模式研究

Institute of Scientific and Technical Information of China (English)

张星

2013-01-01

　　网络广告是当前最具发展势头的广告之一。随着人们对网络广告认识的逐步深化，出现了许多各具特色的网络定价方法。根据网络媒体的特点，从广告对消费者心理和行为影响的整个过程出发，就优化网络广告定价模式的标准化以及网络广告定价模式最优化问题提出一种可能性的解决方案，对于我国网络广告定价模式的标准化问题具有重要的实践意义。%Internet advertising—a new type of Advertisements, has becoming a very important area of marketing research. Nowadays,web advertising in China grows up rapidly. Along with the high-speed development, the research of online Ads pricing models has been more and more deepening.This paper begins with the describing of the media traits of web, based on the consumers' behavior affected by the internet ads, envisages a new type of pricing model. Discussions in this paper will benefit firms and governments when determining prices and policies.

Stochastic Differential Equation Models for the Price of European CO2 Emissions Allowances

Directory of Open Access Journals (Sweden)

Wugan Cai

2017-02-01

Full Text Available Understanding the stochastic nature of emissions allowances is crucial for risk management in emissions trading markets. In this study, we discuss the emissions allowances spot price within the European Union Emissions Trading Scheme: Powernext and European Climate Exchange. To compare the fitness of five stochastic differential equations (SDEs to the European Union allowances spot price, we apply regression theory to obtain the point and interval estimations for the parameters of the SDEs. An empirical evaluation demonstrates that the mean reverting square root process (MRSRP has the best fitness of five SDEs to forecast the spot price. To reduce the degree of smog, we develop a new trading scheme in which firms have to hand many more allowances to the government when they emit one unit of air pollution on heavy pollution days, versus one allowance on clean days. Thus, we set up the SDE MRSRP model with Markovian switching to analyse the evolution of the spot price in such a scheme. The analysis shows that the allowances spot price will not jump too much in the new scheme. The findings of this study could contribute to developing a new type of emissions trading.

The Price Differential's Impact on Retention, Recruitment, and Quality in a Public University.

Science.gov (United States)

Little, Michale W.; O'Toole, Dennis; Wetzel, James

1997-01-01

A survey of 467 business students at Virginia Commonwealth University investigated results of the business school's tuition differential pricing strategy, which charges a higher tuition in order to provide students with strong computer and technological instruction and support. Results indicated the additional services created added value for…

Price Comparisons on the Internet Based on Computational Intelligence

Science.gov (United States)

Kim, Jun Woo; Ha, Sung Ho

2014-01-01

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

Gender, internet experience, Internet identification, and internet anxiety: a ten-year followup.

Science.gov (United States)

Joiner, Richard; Gavin, Jeff; Brosnan, Mark; Cromby, John; Gregory, Helen; Guiller, Jane; Maras, Pam; Moon, Amy

2012-07-01

In 2002, we found gender differences in the use of the Internet. Since then, however, the Internet has changed considerably. We therefore conducted a follow-up study in 2012. The study involved 501 students (389 females and 100 males, 12 participants unspecified gender) and we measured Internet use, Internet anxiety, and Internet identification. We found that males had a greater breadth of Internet use; they used the Internet more for games and entertainment than females. The differentiation between males and females in terms of Internet use is evident, and in some ways is even more distinct than 10 years ago. In our previous research we had found no gender differences in the use of the Internet for communication, whereas in the current study we have found that females use the Internet for communication than males and were using social network sites more than males. We also found, consistent with our previous study, that Internet identification and Internet anxiety were related to Internet use.

China's experiment on the differential electricity pricing policy and the struggle for energy conservation

International Nuclear Information System (INIS)

Chen Jinjin

2011-01-01

Differential electricity pricing was promulgated by China's central government to guide the development of high energy-consuming industries, which are significant for energy conservation. This paper examines the twists and turns of the policy implementation at the provincial level, and seeks to elucidate the difficulties in its implementation. Local governments, concerned that following the central directives would hurt local interests, have tried to deviate from the central orders while the central revises the policy from time to time to ensure local compliance. Three difficulties are analyzed: (1) the current relations between the central and local energy regulatory institutions make these local institutions difficult to perform their duties, and affect incentives for local governments to respond to central directives; (2) financial reform puts a great burden on local governments to raise revenues to cover expenditures, making local governments focus mainly on economic development rather than serving merely as political agents of the central government; (3) the aggressive attitude of local governments in pursuing GDP growth is not necessarily driven by the central government, but by pressure from competition among localities and the need to win local support. Solving these difficulties is important for making national energy conservation polices effective and efficient. - Highlights: → Adopt the differential electricity pricing policy to achieve energy conservation. → The implementation of the differential electricity pricing policy is far from smooth. → Current relations between the central and local energy regulatory institutions. → Financial burden on local governments. → Pressure from competition among localities and the need to win local support.

Internet addiction, problematic internet use, nonproblematic internet use among Chinese adolescents: Individual, parental, peer, and sociodemographic correlates.

Science.gov (United States)

Zhou, Nan; Cao, Hongjian; Li, Xiaomin; Zhang, Jintao; Yao, Yuanwei; Geng, Xiaomin; Lin, Xiuyun; Hou, Shumeng; Liu, Fenge; Chen, Xiaoli; Fang, Xiaoyi

2018-05-01

Internet addiction has been typically conceptualized as either a continuous construct or a dichotomous construct. Limited research has differentiated adolescents with problematic Internet use (PIU) from the Internet addiction group (IA) and/or nonproblematic Internet use group (NPIU) and examined the potential correlates. To fill this gap, based on data obtained from 956 Chinese adolescents (11-19 years, 47% male), this study examined if adolescents with PIU is a distinctive group from the IA and NPIU. This study also examined factors from different ecological levels that may differentiate among the three groups, including individual, parental, peer, and sociodemographic factors. Results indicated that IA, PIU, and NPIU differed significantly on scores of Young's Diagnostic Questionnaire (YDQ). Critical factors emerging from different ecological levels could differentiate between PIU and NPIU and between IA and NPIU. Such findings suggest that PIU may represent a distinct, intermediate group of Internet users. The potential theoretical and practical implications of identifying PIU were also discussed. (PsycINFO Database Record (c) 2018 APA, all rights reserved).

Adaptive Strategies for Dynamic Pricing Agents

NARCIS (Netherlands)

S. Ramezani (Sara); P.A.N. Bosman (Peter); J.A. La Poutré (Han)

2011-01-01

htmlabstractDynamic Pricing (DyP) is a form of Revenue Management in which the price of a (usually) perishable good is changed over time to increase revenue. It is an effective method that has become even more relevant and useful with the emergence of Internet firms and the possibility of readily

Agent-Based Model of Price Competition and Product Differentiation on Congested Networks

OpenAIRE

Lei Zhang; David Levinson; Shanjiang Zhu

2007-01-01

Using consistent agent-based techniques, this research models the decision-making processes of users and infrastructure owner/operators to explore the welfare consequence of price competition, capacity choice, and product differentiation on congested transportation networks. Component models include: (1) An agent-based travel demand model wherein each traveler has learning capabilities and unique characteristics (e.g. value of time); (2) Econometric facility provision cost models; and (3) Rep...

Effects of Internet Sales Promotion on a Differential Advertising Model

Directory of Open Access Journals (Sweden)

Hui Jiang

2018-01-01

Full Text Available Advertising and sales promotion are two important specific marketing communications tools. In this paper, Internet sales promotion is introduced into a differential advertising model and investigated quantitatively. The conditions for the existence and stability of periodic solutions are obtained. Flip bifurcation of periodic solution is investigated analytically. The results show that the sales promotion parameter can modify the stability of the differential advertising model and lead to chaos through flip bifurcation, the sales level will eventually be no less than a given value by adjusting the value of the sales promotion parameter, and the optimal sales promotion strategy can lead to maximum profit. Numerical results for periodic solutions, bifurcation diagrams, and the effects of sales promotion strategies, which are illustrated with an example, are in good agreement with the theoretical analysis. These results have certain significant theoretical and practical value in related markets.

New Evidence on the Price Effects of Cigarette Tax Competition.

Science.gov (United States)

Carpenter, Christopher S; Mathes, Michael T

2016-05-01

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

Application of Pricing Strategy in the Management of Recreational Fishery

OpenAIRE

Zhang, Chen; Han, Xingyong

2009-01-01

This paper analyzes the feasibility of carrying out various pricing strategies in recreational fishery management. It also introduces the four common pricing means, which are time (season) differential pricing, customer differential pricing, quantity discount and two-part tariff system. The effects of pricing strategy of recreational fishery on social welfare are studied taking time (season) differential pricing as an example.

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

Energy Technology Data Exchange (ETDEWEB)

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

2012-02-15

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

Economic Differentiation as a Determinant of Higher Education Pricing and Expenditure Policies and State-wide Public Policy: Implications for Governance. ASHE 1983 Annual Meeting Paper.

Science.gov (United States)

Alfred, Richard L.

A study of the impact of economic differentiation on institutional pricing and expenditure policies, higher education public policy, and governance in public colleges and universities is described. It is suggested that economic differentiation is a likely determinant of variation in institutional expenditure and pricing policies and higher…

Price dynamics of the financial markets using the stochastic differential equation for a potential double well

Science.gov (United States)

Lima, L. S.; Miranda, L. L. B.

2018-01-01

We have used the Itô's stochastic differential equation for the double well with additive white noise as a mathematical model for price dynamics of the financial market. We have presented a model which allows us to test within the same framework the comparative explanatory power of rational agents versus irrational agents, with respect to the facts of financial markets. We have obtained the mean price in terms of the β parameter that represents the force of the randomness term of the model.

Stochastic differential equation (SDE) model of opening gold share price of bursa saham malaysia

Science.gov (United States)

Hussin, F. N.; Rahman, H. A.; Bahar, A.

2017-09-01

Black and Scholes option pricing model is one of the most recognized stochastic differential equation model in mathematical finance. Two parameter estimation methods have been utilized for the Geometric Brownian model (GBM); historical and discrete method. The historical method is a statistical method which uses the property of independence and normality logarithmic return, giving out the simplest parameter estimation. Meanwhile, discrete method considers the function of density of transition from the process of diffusion normal log which has been derived from maximum likelihood method. These two methods are used to find the parameter estimates samples of Malaysians Gold Share Price data such as: Financial Times and Stock Exchange (FTSE) Bursa Malaysia Emas, and Financial Times and Stock Exchange (FTSE) Bursa Malaysia Emas Shariah. Modelling of gold share price is essential since fluctuation of gold affects worldwide economy nowadays, including Malaysia. It is found that discrete method gives the best parameter estimates than historical method due to the smallest Root Mean Square Error (RMSE) value.

A hybrid credibility-based fuzzy multiple objective optimisation to differential pricing and inventory policies with arbitrage consideration

Science.gov (United States)

Ghasemy Yaghin, R.; Fatemi Ghomi, S. M. T.; Torabi, S. A.

2015-10-01

In most markets, price differentiation mechanisms enable manufacturers to offer different prices for their products or services in different customer segments; however, the perfect price discrimination is usually impossible for manufacturers. The importance of accounting for uncertainty in such environments spurs an interest to develop appropriate decision-making tools to deal with uncertain and ill-defined parameters in joint pricing and lot-sizing problems. This paper proposes a hybrid bi-objective credibility-based fuzzy optimisation model including both quantitative and qualitative objectives to cope with these issues. Taking marketing and lot-sizing decisions into account simultaneously, the model aims to maximise the total profit of manufacturer and to improve service aspects of retailing simultaneously to set different prices with arbitrage consideration. After applying appropriate strategies to defuzzify the original model, the resulting non-linear multi-objective crisp model is then solved by a fuzzy goal programming method. An efficient stochastic search procedure using particle swarm optimisation is also proposed to solve the non-linear crisp model.

GRID PRICING VERSUS AVERAGE PRICING FOR SLAUGHTER CATTLE: AN EMPIRICAL ANALYSIS

OpenAIRE

Fausti, Scott W.; Qasmi, Bashir A.

1999-01-01

The paper compares weekly producer revenue under grid pricing and average dressed weight pricing methods for 2560 cattle over a period of 102 weeks. Regression analysis is applied to identify factors affecting the revenue differential.

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

Science.gov (United States)

Summers, Michael P; Verikios, George

2018-02-01

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

Differential physiological changes following internet exposure in higher and lower problematic internet users.

Science.gov (United States)

Reed, Phil; Romano, Michela; Re, Federica; Roaro, Alessandra; Osborne, Lisa A; Viganò, Caterina; Truzoli, Roberto

2017-01-01

Problematic internet use (PIU) has been suggested as in need of further research with a view to being included as a disorder in future Diagnostic and Statistical Manual (DSM) of the American Psychiatric Association, but lack of knowledge about the impact of internet cessation on physiological function remains a major gap in knowledge and a barrier to PIU classification. One hundred and forty-four participants were assessed for physiological (blood pressure and heart rate) and psychological (mood and state anxiety) function before and after an internet session. Individuals also completed a psychometric examination relating to their usage of the internet, as well as their levels of depression and trait anxiety. Individuals who identified themselves as having PIU displayed increases in heart rate and systolic blood pressure, as well as reduced mood and increased state of anxiety, following cessation of internet session. There were no such changes in individuals with no self-reported PIU. These changes were independent of levels of depression and trait anxiety. These changes after cessation of internet use are similar to those seen in individuals who have ceased using sedative or opiate drugs, and suggest PIU deserves further investigation and serious consideration as a disorder.

Impact of the internet on consumers

OpenAIRE

Mihaela BADEA; Bogdan PÎRVULESCU

2014-01-01

The main purpose of this study is to show the current opportunities, prospects and the impact of the Internet on the consumer. This will be achieved by comparing the behaviour of the British consumer and the Romanian consumer and the changes that appeared under the influence of the Internet. Among the actions undertaken by the Internet marketing, which deals with the promotion of products at a certain price, a concept that has become significant in recent years, there is the placement of prod...

Technology for Price Management in Industrial Differential Product Market

Directory of Open Access Journals (Sweden)

E. V. Orlova

2015-01-01

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

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. ...

Pricing by timing: innovating broadband data plans

Science.gov (United States)

Ha, Sangtae; Joe-Wong, Carlee; Sen, Soumya; Chiang, Mung

2012-01-01

Wireless Internet usage is doubling every year. Users are using more of high bandwidth data applications, and the heavy usage concentrates on several peak hours in a day, forcing ISPs to overprovision their networks accordingly. In order to remain profitable, ISPs have been using pricing as a congestion management tool. We review many of such pricing schemes in practice today and argue that they do not solve ISPs' problem of growing data traffic. We believe that dynamic, time-dependent usage pricing, which charges users based on when they access the Internet, can incentivize users to spread out their bandwidth consumption more evenly across different times of the day, thus helping ISPs to overcome the problem of peak congestion. Congestion pricing is not a new idea in itself, but the time for its implementation in data networks has finally arrived. Our key contribution lies in developing new analysis and a fully integrated system architecture, called TUBE (Time-dependent Usage-based Broadband price Engineering) that enables ISPs to implement the proposed TDP plan. The theory, simulation, and system implementation of TUBE system is further complemented with consumer surveys conducted in India and the US, along with preparations for a field trial that is currently underway.

7 CFR 1126.54 - Equivalent price.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Equivalent price. 1126.54 Section 1126.54 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Handling Class Prices § 1126.54 Equivalent price. See § 1000.54. Producer Price Differential ...

7 CFR 1001.54 - Equivalent price.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Equivalent price. 1001.54 Section 1001.54 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Handling Class Prices § 1001.54 Equivalent price. See § 1000.54. Producer Price Differential ...

7 CFR 1032.54 - Equivalent price.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Equivalent price. 1032.54 Section 1032.54 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Handling Class Prices § 1032.54 Equivalent price. See § 1000.54. Producer Price Differential ...

7 CFR 1033.54 - Equivalent price.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Equivalent price. 1033.54 Section 1033.54 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Handling Class Prices § 1033.54 Equivalent price. See § 1000.54. Producer Price Differential ...

The application of the Internet of Things and Physical Internet in Norwegian aquaculture supply chains

OpenAIRE

Ødegaard, Andreas; Dåvøy, Simon

2016-01-01

Master's thesis in Strategy and Management The topic for this master thesis is Supply Chain Management within the Norwegian aquaculture industry. The thesis aims to examine how the industry can make use of aspects within the Internet of Things and Physical Internet in order to improve their supply chains. Moreover, the thesis identifies and defines three main factors affecting the customers purchasing decision; namely quality, time, and price. These factors are interconnected, and inf...

Shaping the offer of hotel services for internet sales

Directory of Open Access Journals (Sweden)

Adlešič Tatjana

2015-01-01

Full Text Available This paper deals with the consumer's preferences in booking hotel services over the internet. A conjoint analysis was used in establishing whether the price is the most important factor in deciding on a hotel service and which elements of the service can be used as a competitive advantage. Although the price does play a pivotal role in the consumer's decision, within an acceptable price range he will take into account the bonuses offered by the hotel. Among the bonuses, free parking and free internet access play an important role, while free access to pornographic films and free wine with dinner are not an important factor. Room colour does not play a role in the consumer's decision making process regarding hotel services.

7 CFR 1124.54 - Equivalent price.

Science.gov (United States)

2010-01-01

... 7 Agriculture 9 2010-01-01 2009-01-01 true Equivalent price. 1124.54 Section 1124.54 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Regulating Handling Class Prices § 1124.54 Equivalent price. See § 1000.54. Producer Price Differential ...

An Electricity Price-Aware Open-Source Smart Socket for the Internet of Energy.

Science.gov (United States)

Blanco-Novoa, Óscar; Fernández-Caramés, Tiago M; Fraga-Lamas, Paula; Castedo, Luis

2017-03-21

The Internet of Energy (IoE) represents a novel paradigm where electrical power systems work cooperatively with smart devices to increase the visibility of energy consumption and create safer, cleaner and sustainable energy systems. The implementation of IoE services involves the use of multiple components, like embedded systems, power electronics or sensors, which are an essential part of the infrastructure dedicated to the generation and distribution energy and the one required by the final consumer. This article focuses on the latter and presents a smart socket system that collects the information about energy price and makes use of sensors and actuators to optimize home energy consumption according to the user preferences. Specifically, this article provides three main novel contributions. First, what to our knowledge is the first hardware prototype that manages in a practical real-world scenario the price values obtained from a public electricity operator is presented. The second contribution is related to the definition of a novel wireless sensor network communications protocol based on Wi-Fi that allows for creating an easy-to-deploy smart plug system that self-organizes and auto-configures to collect the sensed data, minimizing user intervention. Third, it is provided a thorough description of the design of one of the few open-source smart plug systems, including its communications architecture, the protocols implemented, the main sensing and actuation components and the most relevant pieces of the software. Moreover, with the aim of illustrating the capabilities of the smart plug system, the results of different experiments performed are shown. Such experiments evaluate in real-world scenarios the system's ease of use, its communications range and its performance when using HTTPS. Finally, the economic savings are estimated for different appliances, concluding that, in the practical situation proposed, the smart plug system allows certain energy

Quick Access: Find Statistical Data on the Internet.

Science.gov (United States)

Su, Di

1999-01-01

Provides an annotated list of Internet sources (World Wide Web, ftp, and gopher sites) for current and historical statistical business data, including selected interest rates, the Consumer Price Index, the Producer Price Index, foreign currency exchange rates, noon buying rates, per diem rates, the special drawing right, stock quotes, and mutual…

Defense Travel System (DTS) Airline Ticket Price Analysis: Do DTS Ticket Prices Differ From Other Online Tickets Available for Naval Postgraduate School Travelers

Science.gov (United States)

2007-12-01

price dispersion at least as large as dispersion for traditional retailers for books, music CDs, and software offered through 52 Internet and...dispersion differences. For instance, for 22 old-hit albums , average price percentage differences are 31% on-line, compared to 11% off-line. But for 21...current-hit albums , differences are smaller at 18% on-line and 19% off-line. This suggests price dispersion levels are related to product

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.

"Photographing money" task pricing

Science.gov (United States)

Jia, Zhongxiang

2018-05-01

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

The Pricing Strategy and Welfare Analysis of Enterprise Cooperation on Mobile Internet Industry Chain%移动互联网产业链上企业合作的定价策略及福利变化

Institute of Scientific and Technical Information of China (English)

田永晓

2017-01-01

传统互联网企业面临着公司市值快速萎缩、移动设备制造商传统渠道销售量急剧下跌等困境,应发展趋势而生的"互联网+"商业模式是产业崭新的竞争制高点,传统互联网企业与移动设备制造商通过平台增长形成新的商业生态系统.基于双边市场理论,分析在单一垄断互联网企业情形下互联网企业与移动设备制造商采取纵向一体化、纵向分离策略的定价行为;探讨在双寡头互联网企业情形下互联网企业与移动设备制造商同时采取纵向一体化、纵向分离以及分别采取差异化策略的定价行为.结果表明,互联网企业与移动设备制造商进行合作可以有效解决交叉网络外部性"内生化"的问题,有利于扩大互联网企业和移动设备制造商的市场份额,加强双方在移动互联网产业链中的竞争力.%Traditional internet enterprises have the problems of rapidly declined market value and the mobile devices merchants have lost the sales volume in the traditional channel,while the "Internet Plus" strategy can be the new competition high ground of the industry.Through the growth of the platform,it can form a business ecosystem between traditional internet enterprise and mobile device manufacturers.Based on the two-sided market theory,we analyze the pricing strategy of internet enterprises and mobile device manufacturers in the perspective of vertical disintegration and vertical integration of single monopoly internet enterprise,as well as duopolyinternet enterprises.We further analyzed the situations of vertical integration,vertical disintegration and differentiated pricing strategies on duopoly internet enterprises.Then the results show that the cooperation between traditional internet enterprises and mobile devices merchants can effectively solve the problem of endogenous externalization in crossing network,it is helpful to extend the market share of internet enterprises and mobile device

7 CFR 1001.62 - Announcement of producer prices.

Science.gov (United States)

2010-01-01

... following prices and information: (a) The producer price differential; (b) The protein price; (c) The nonfat solids price; (d) The other solids price; (e) The butterfat price; (f) The average butterfat, protein, nonfat solids, and other solids content of producer milk; and (g) The statistical uniform price for milk...

A Study on Rational Pricing System for Water Supply

Energy Technology Data Exchange (ETDEWEB)

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

2001-12-01

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

Why People Aren't Using Wireless Internet

DEFF Research Database (Denmark)

Ahluwalia, Punit; Gimpel, Gregory; Varshney, Upkar

2010-01-01

This paper proposes a new model for understanding the adoption of internet services when competing technological standards can fulfil similar needs. Using prospect theory as its theoretical foundation, the model posits that reference prices, flat rate preference, and status quo bias constitute...... the perceived sacrifice when users consider adoption of new services such as wireless internet. Perceived sacrifice and perceived quality influence the perceived relative value, which in turn influences the intention to adopt wireless internet. The proposed model and related hypotheses are empirically confirmed...

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

International Nuclear Information System (INIS)

Gardner, John; Skumatz, Lisa A.

2005-01-01

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

Economics and Governance of the wireless Internet

DEFF Research Database (Denmark)

Falch, Morten; Henten, Anders; Tadayoni, Reza

barriers of entry. In this paper three issues are discussed: 1) Developments in pricing schemes for Internet interconnection and Internet access with special focus on the role of wireless access. 2) Developments in supporting infrastructures with special focus on the increasing role of wireless......The Internet has undergone a growing diversification with regard to types of users, kinds of services and use of transmission technologies and infrastructures. Today, internet services are delivered by the use of many different wired and wireless communication technologies with different technical...... capabilities and limitations, and with different techno-economic characteristics. The question is whether these trends challenge the current mode of governance for the Internet. In the early days, the Internet was considered to be open, free, competitive, with a high level of entrepreneurialism, and with low...

A precursor of market crashes: Empirical laws of Japan's internet bubble

Science.gov (United States)

Kaizoji, T.

2006-03-01

In this paper, we quantitatively investigate the properties of a statistical ensemble of stock prices. We focus attention on the relative price defined as X(t) = S(t)/S(0), where S(0), is the stock price for an onset time of the bubble. We selected approximately 3200 stocks traded on the Japanese Stock Exchange, and formed a statistical ensemble of daily relative prices for each trading day in the 3-year period from January 4, 1999 to December 28, 2001, corresponding to the period in which internet Bubble formed and crashed in the Japanese stock market. We found that the upper tail of the complementary cumulative distribution function of the ensemble of the relative prices in the high value of the price is well described by a power-law distribution, P(S>x) ˜x-α , with an exponent that moves over time. Furthermore we found that as the power-law exponents α approached two, the bubble burst. It is reasonable to suppose that it indicates that internet bubble is about to burst.

Bandwidth allocation and pricing problem for a duopoly market

Directory of Open Access Journals (Sweden)

You Peng-Sheng

2011-01-01

Full Text Available This research discusses the Internet service provider (ISP bandwidth allocation and pricing problems for a duopoly bandwidth market with two competitive ISPs. According to the contracts between Internet subscribers and ISPs, Internet subscribers can enjoy their services up to their contracted bandwidth limits. However, in reality, many subscribers may experience the facts that their on-line requests are denied or their connection speeds are far below their contracted speed limits. One of the reasons is that ISPs accept too many subscribers as their subscribers. To avoid this problem, ISPs can set limits for their subscribers to enhance their service qualities. This paper develops constrained nonlinear programming to deal with this problem for two competitive ISPs. The condition for reaching the equilibrium between the two competitive firms is derived. The market equilibrium price and bandwidth resource allocations are derived as closed form solutions.

Optimal pricing of non-utility generated electric power

International Nuclear Information System (INIS)

Siddiqi, S.N.; Baughman, M.L.

1994-01-01

The importance of an optimal pricing policy for pricing non-utility generated power is pointed out in this paper. An optimal pricing policy leads to benefits for all concerned: the utility, industry, and the utility's other customers. In this paper, it is shown that reliability differentiated real-time pricing provides an optimal non-utility generated power pricing policy, from a societal welfare point of view. Firm capacity purchase, and hence an optimal price for purchasing firm capacity, are an integral part of this pricing policy. A case study shows that real-time pricing without firm capacity purchase results in improper investment decisions and higher costs for the system as a whole. Without explicit firm capacity purchase, the utility makes greater investment in capacity addition in order to meet its reliability criteria than is socially optimal. It is concluded that the non-utility generated power pricing policy presented in this paper and implied by reliability differentiated pricing policy results in social welfare-maximizing investment and operation decisions

Do Canadian electricity prices reflect costs?

International Nuclear Information System (INIS)

Jaccard, M.

1993-01-01

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

Electricity prices differences between France and Germany

International Nuclear Information System (INIS)

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

1998-01-01

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

Judgments about Judgments: The Dissociation of Consideration Price and Transaction Commitment Judgments

Science.gov (United States)

Janiszewski, Chris; Lichtenstein, Donald R.; Belyavsky, Julia

2008-01-01

There are many contexts in which people make judgments about prior judgments. For example, Internet shopping bots (e.g., NexTag.com) allow consumers to search for products and, if the price is too high, list a price at which they would consider making the purchase (i.e., base judgment). If the price drops to this level, the vendor generates an…

An Electricity Price-Aware Open-Source Smart Socket for the Internet of Energy

Science.gov (United States)

Blanco-Novoa, Óscar; Fernández-Caramés, Tiago M.; Fraga-Lamas, Paula; Castedo, Luis

2017-01-01

The Internet of Energy (IoE) represents a novel paradigm where electrical power systems work cooperatively with smart devices to increase the visibility of energy consumption and create safer, cleaner and sustainable energy systems. The implementation of IoE services involves the use of multiple components, like embedded systems, power electronics or sensors, which are an essential part of the infrastructure dedicated to the generation and distribution energy and the one required by the final consumer. This article focuses on the latter and presents a smart socket system that collects the information about energy price and makes use of sensors and actuators to optimize home energy consumption according to the user preferences. Specifically, this article provides three main novel contributions. First, what to our knowledge is the first hardware prototype that manages in a practical real-world scenario the price values obtained from a public electricity operator is presented. The second contribution is related to the definition of a novel wireless sensor network communications protocol based on Wi-Fi that allows for creating an easy-to-deploy smart plug system that self-organizes and auto-configures to collect the sensed data, minimizing user intervention. Third, it is provided a thorough description of the design of one of the few open-source smart plug systems, including its communications architecture, the protocols implemented, the main sensing and actuation components and the most relevant pieces of the software. Moreover, with the aim of illustrating the capabilities of the smart plug system, the results of different experiments performed are shown. Such experiments evaluate in real-world scenarios the system’s ease of use, its communications range and its performance when using HTTPS. Finally, the economic savings are estimated for different appliances, concluding that, in the practical situation proposed, the smart plug system allows certain energy

An empirical investigation of spatial differentiation and price floor regulations in retail markets for gasoline

Science.gov (United States)

Houde, Jean-Francois

In the first essay of this dissertation, I study an empirical model of spatial competition. The main feature of my approach is to formally specify commuting paths as the "locations" of consumers in a Hotelling-type model of spatial competition. The main consequence of this location assumption is that the substitution patterns between stations depend in an intuitive way on the structure of the road network and the direction of traffic flows. The demand-side of the model is estimated by combining a model of traffic allocation with econometric techniques used to estimate models of demand for differentiated products (Berry, Levinsohn and Pakes (1995)). The estimated parameters are then used to evaluate the importance of commuting patterns in explaining the distribution of gasoline sales, and compare the economic predictions of the model with the standard home-location model. In the second and third essays, I examine empirically the effect of a price floor regulation on the dynamic and static equilibrium outcomes of the gasoline retail industry. In particular, in the second essay I study empirically the dynamic entry and exit decisions of gasoline stations, and measure the impact of a price floor on the continuation values of staying in the industry. In the third essay, I develop and estimate a static model of quantity competition subject to a price floor regulation. Both models are estimated using a rich panel dataset on the Quebec gasoline retail market before and after the implementation of a price floor regulation.

Bottleneck Analysis of the Mobile Internet Diffusion in Emerging Markets

OpenAIRE

Benseny, Jaume; Finley, Benjamin; Hämmäinen, Heikki

2016-01-01

According to the ITU, in 2013, only 6% of the population in developing countries had access to broadband Internet. Nevertheless, mobile Internet penetration rates have already exceeded those of fixed telecommunication services and may help in bridging the digital divide. To understand this phenomenon, we model the mobile Internet diffusion process via a system dynamics model that includes user competence, data price, and mobile network capacity as the main contributors to consumer utility and...

Pricing and University Autonomy: Tuition Deregulation in Texas

Directory of Open Access Journals (Sweden)

Jeongeun Kim

2016-04-01

Full Text Available This paper investigates changes in tuition policies in the wake of tuition deregulation in Texas, which in 2003 transferred tuition-setting authority from the state legislature to institutions. We find that price increases accelerated, particularly at the most selective institutions. Institutions also began differentiating price by undergraduate program, raising relative prices for the most costly and lucrative majors, including engineering, business, nursing, and architecture. Price increases were particularly large for institutions with the highest initial costs and for programs with a high earnings premium within institutions, though lower for institutions with more low-income students. These distinctions suggest that public postsecondary institutions respond to microeconomic incentives when given greater autonomy to set price, and take some measures to alleviate impacts on low-income students. The Texas experience suggests that decentralized price-setting generates greater price differentiation within the public higher education system, both across and within institutions.

Price as indicator for quality?

DEFF Research Database (Denmark)

Nielsen, Jørgen Ulff-Møller; Hansen, Jørgen Drud

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

The evolving price of household LED lamps: Recent trends and historical comparisons for the US market

Energy Technology Data Exchange (ETDEWEB)

Gerke, Brian F.; Ngo, Allison T.; Alstone, Andrea L.; Fisseha, Kibret S.

2014-10-14

In recent years, household LED light bulbs (LED A lamps) have undergone a dramatic price decline. Since late 2011, we have been collecting data, on a weekly basis, for retail offerings of LED A lamps on the Internet. The resulting data set allows us to track the recent price decline in detail. LED A lamp prices declined roughly exponentially with time in 2011-2014, with decline rates of 28percent to 44percent per year depending on lumen output, and with higher-lumen lamps exhibiting more rapid price declines. By combining the Internet price data with publicly available lamp shipments indices for the US market, it is also possible to correlate LED A lamp prices against cumulative production, yielding an experience curve for LED A lamps. In 2012-2013, LED A lamp prices declined by 20-25percent for each doubling in cumulative shipments. Similar analysis of historical data for other lighting technologies reveals that LED prices have fallen significantly more rapidly with cumulative production than did their technological predecessors, which exhibited a historical decline of 14-15percent per doubling of production.

Methodology for oil prices projections: a study about oil prices differentials for Brent, Arab Light, Bonny Light and Marlin; Metodologia de projecao de precos de petroleos: um estudo dos diferenciais de precos entre o 'Brent', Arabe Leve, 'Bonny Light' e Marlin

Energy Technology Data Exchange (ETDEWEB)

Machado, Giovani; Aragao, Amanda; Valle, Ricardo Nascimento e Silva do [Empresa de Pesquisa Energetica (EPE), Brasilia, DF (Brazil)

2008-07-01

Oil is not homogenous commodity in terms of its chemical and physical properties, differing from one to another in density (API degree), sulfur content, acidity etc. Such properties imply in price differentials (discount or premium) for each crude to another in the international market. This study presents a basic model to forecasts price of various crudes based on one 'marker' or reference crude price by applying econometric formulations. The relevant crudes for the study are Arab Light, Bonny Light and Marlin, while the 'marker' crude is the Brent. Based on a scenario for the Brent price, prices of Arab Light, Bonny Light and Marlin are forecast to 2020. Findings show that price differentials to Brent are minus US$ 5.09-6.57/b (discount) to Arab Light, plus US$ 1.56-3.47/b (premium) to Bonny Light and minus US$ 9.02-13.95/b (discount) to Marlin in the period analyzed (in constant prices of May/2007). Although such figures are in harmony with expected results (theoretical foundations) of discount/premium by crude quality, structural changes in oil market (in particular, large modifications in world refining conversion capacity), catalyzed by high oil prices and energy policy, may reduce forecast strength of the specifications proposed. (author)

The internet trade of counterfeit spirits in Russia - an emerging problem undermining alcohol, public health and youth protection policies?

Science.gov (United States)

Neufeld, Maria; Lachenmeier, Dirk W; Walch, Stephan G; Rehm, Jürgen

2017-01-01

Counterfeit alcohol belongs to the category of unrecorded alcohol not reflected in official statistics. The internet trade of alcoholic beverages has been prohibited by the Russian Federation since 2007, but various sellers still offer counterfeit spirits (i.e., forged brand spirits) over the internet to Russian consumers, mostly in a non-deceptive fashion at prices up to 15 times lower than in regular sale. The public health issues arising from this unregulated trade include potential harm to underage drinkers, hazards due to toxic ingredients such as methanol, but most importantly alcohol harms due to potentially increased drinking volumes due to low prices and high availability on the internet. The internet sale also undermines existing alcohol policies such as restrictions of sale locations, sale times and minimum pricing. The need to enforce measures against counterfeiting of spirits, but specifically their internet trade should be implemented as key elements of alcohol policies to reduce unrecorded alcohol consumption, which is currently about 33 % of total consumption in Russia.

Near-term oil prices

International Nuclear Information System (INIS)

Lynch, M.C.

2001-01-01

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

Price dynamics in European petroleum markets

International Nuclear Information System (INIS)

Wlazlowski, Szymon; Giulietti, Monica; Binner, Jane; Milas, Costas

2009-01-01

This paper analyses horizontal and vertical price dynamics in the EU petroleum markets. The results indicate that the cross-country price differentials have significant impact on the local price adjustments. We investigate the cross-national price spill-overs and find that the extent of the welfare transfer due to asymmetric price transmission, when analysed in a cross-country setting, is less pronounced than claimed in previous contributions in this area. We also find empirical evidence, although indirect, for the politically charged concept of 'fuel tourism', using a pan-European cross-product time series dataset. (author)

Creative pricing strategies for medical services.

Science.gov (United States)

Tellis, G J

1987-01-01

This paper discusses the strategic role of the pricing of medical services. Strategic pricing is a creative process that can be a vital means of defining marketing segments, differentiating services, and gaining a competitive advantage. The central issue in strategic pricing is creatively using the principle of cross-subsidies or shared economies over consumer groups, service sets, or competitors. This principle yields a rich set of pricing strategies that can be used in response to various environments.

7 CFR 1124.62 - Announcement of producer prices.

Science.gov (United States)

2010-01-01

... butterfat, protein, nonfat solids, and other solids content of producer milk; and (g) The statistical... publicly the following prices and information: (a) The producer price differential; (b) The protein price....62 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING...

7 CFR 1030.62 - Announcement of producer prices.

Science.gov (United States)

2010-01-01

... cell adjustment rate; (g) The average butterfat, nonfat solids, protein and other solids content of... publicly the following prices and information: (a) The producer price differential; (b) The protein price....62 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING...

Estimation of Monetary Value of Information on the Internet

Directory of Open Access Journals (Sweden)

Mohsen Nazari

2015-03-01

Full Text Available This research estimates the monetary value of internet information for each type of information and services by using Hedonic pricing method. The statistic social of this research is high-speed internet users in Tehran. Based on the results, high speed internet users of Tehran consider a positive monetary value for some information types in the internet, in descendent respect, such as film downloading, gaming, News, social network, and music. Also, the results indicates that people with higher education level and people who are subscribed to high speed internet earlier than other people consider more monetary value to use the internet. For generalizing the result of this research, it’s suggested to do this research at other cities of Iran. At last, some applicable suggestions made.

State energy price and expenditure report, 1995

Energy Technology Data Exchange (ETDEWEB)

NONE

1998-08-01

The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates individually for the 50 States and the District of Columbia and in aggregate for the US. The estimates developed in the State Energy Price and Expenditure Data System (SEPEDS) are provided by energy source and economic sector and are published for the years 1970 through 1995. Data for all years are available on a CD-ROM and via Internet. Consumption estimates used to calculate expenditures and the documentation for those estimates are taken from the State Energy Data Report 1995, Consumption Estimates (SEDR), published in December 1997. Expenditures are calculated by multiplying the price estimates by the consumption estimates, which are adjusted to remove process fuel; intermediate petroleum products; and other consumption that has no direct fuel costs, i.e., hydroelectric, geothermal, wind, solar, and photovoltaic energy sources.

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.

The internet trade of counterfeit spirits in Russia – an emerging problem undermining alcohol, public health and youth protection policies?

Science.gov (United States)

Neufeld, Maria; Lachenmeier, Dirk W.; Walch, Stephan G.; Rehm, Jürgen

2017-01-01

Counterfeit alcohol belongs to the category of unrecorded alcohol not reflected in official statistics. The internet trade of alcoholic beverages has been prohibited by the Russian Federation since 2007, but various sellers still offer counterfeit spirits (i.e., forged brand spirits) over the internet to Russian consumers, mostly in a non-deceptive fashion at prices up to 15 times lower than in regular sale. The public health issues arising from this unregulated trade include potential harm to underage drinkers, hazards due to toxic ingredients such as methanol, but most importantly alcohol harms due to potentially increased drinking volumes due to low prices and high availability on the internet. The internet sale also undermines existing alcohol policies such as restrictions of sale locations, sale times and minimum pricing. The need to enforce measures against counterfeiting of spirits, but specifically their internet trade should be implemented as key elements of alcohol policies to reduce unrecorded alcohol consumption, which is currently about 33 % of total consumption in Russia. PMID:28663784

Electronic Journals, the Internet, and Scholarly Communication.

Science.gov (United States)

Kling, Rob; Callahan, Ewa

2003-01-01

Examines the role of the Internet in supporting scholarly communication via electronic journals. Topics include scholarly electronic communication; a typology of electronic journals; models of electronic documents and scholarly communication forums; publication speed; costs; pricing; access and searching; citations; interactivity; archiving and…

Pricing and sales tax collection policies for e-cigarette starter kits and disposable products sold online.

Science.gov (United States)

Cuomo, Raphael E; Miner, Angela; Mackey, Tim K

2015-10-23

Previous studies have examined marketing characteristics of e-cigarettes sold online and others have examined e-cigarettes pricing in retail (non-Internet) settings. This study expands on these findings by examining pricing and marketing characteristics of interest among e-cigarette online vendors. Structured web searches were conducted from August-September 2014 to identify popular e-cigarette Internet vendors. We then collected pricing data (e-cigarette starter kits and disposables), sales tax collection policies and other vendor marketing characteristics. Average price for each product category was then compared with marketing characteristics using linear regression for continuous variables and independent t-tests for binary variables. Our searches yielded 44 e-cigarette Internet vendors of which 77% (n = 34) sold a total of 238 starter kit offerings (Mprice = $55.89). Half (n = 22) sold disposable types of e-cigarettes (Mprice = $7.17 p/e-cigarette) at a price lower than reported elsewhere in retail settings. Average disposable e-cigarette prices were also significantly higher for vendors displaying more health warning notices (P = 0.001). Only 46% disclosed sales tax collection policies and only 39% collected sales tax in their state of business. This study expands on current understanding of e-cigarette pricing and availability online and finds variation in e-cigarette pricing may be influenced by type of product, use of online health warnings and vendor sales tax collection policies. It also finds that e-cigarette online access and availability may be impacted by a combination of pricing and marketing strategies uniquely different from e-cigarette retail settings that requires further study and targeted policy-making. [Cuomo RE, Miner A, Mackey TK. Pricing and sales tax collection policies for e-cigarette starter kits and disposable products sold online. Drug Alcohol Rev 2015]. © 2015 Australasian Professional Society on Alcohol and

Energy sector pricing: On the role of neglected nonlinearity

International Nuclear Information System (INIS)

Kyrtsou, Catherine; Malliaris, Anastasios G.; Serletis, Apostolos

2009-01-01

Modern economies have been subjected to a number of shocks during the past several years such as the burst of the Internet bubble, terrorist attacks, corporate scandals, the war in Iraq, the uncertainty about energy prices, and the recent subprime mortgage crisis. In particular, during the last few years, the energy shock has caused concerns for potential stagflation for both the United States and numerous other countries. We perform numerous univariate tests for non-linearity and chaotic structure using price data from the energy sector to resolve whether the sector's fundamentals or exogenous shocks drive these prices.

Energy sector pricing: On the role of neglected nonlinearity

Energy Technology Data Exchange (ETDEWEB)

Kyrtsou, Catherine [University of Macedonia (Greece); Malliaris, Anastasios G. [Loyola University Chicago (United States); Serletis, Apostolos [University of Calgary (Canada)], E-mail: Serletis@ucalgary.ca

2009-05-15

Modern economies have been subjected to a number of shocks during the past several years such as the burst of the Internet bubble, terrorist attacks, corporate scandals, the war in Iraq, the uncertainty about energy prices, and the recent subprime mortgage crisis. In particular, during the last few years, the energy shock has caused concerns for potential stagflation for both the United States and numerous other countries. We perform numerous univariate tests for non-linearity and chaotic structure using price data from the energy sector to resolve whether the sector's fundamentals or exogenous shocks drive these prices.

Energy sector pricing. On the role of neglected nonlinearity

Energy Technology Data Exchange (ETDEWEB)

Kyrtsou, Catherine [University of Macedonia (Greece); Malliaris, Anastasios G. [Loyola University Chicago (United States); Serletis, Apostolos [University of Calgary (Canada)

2009-05-15

Modern economies have been subjected to a number of shocks during the past several years such as the burst of the Internet bubble, terrorist attacks, corporate scandals, the war in Iraq, the uncertainty about energy prices, and the recent subprime mortgage crisis. In particular, during the last few years, the energy shock has caused concerns for potential stagflation for both the United States and numerous other countries. We perform numerous univariate tests for non-linearity and chaotic structure using price data from the energy sector to resolve whether the sector's fundamentals or exogenous shocks drive these prices. (author)

Pricing derivatives under Lévy models modern finite-difference and pseudo-differential operators approach

CERN Document Server

Itkin, Andrey

2017-01-01

This monograph presents a novel numerical approach to solving partial integro-differential equations arising in asset pricing models with jumps, which greatly exceeds the efficiency of existing approaches. The method, based on pseudo-differential operators and several original contributions to the theory of finite-difference schemes, is new as applied to the Lévy processes in finance, and is herein presented for the first time in a single volume. The results within, developed in a series of research papers, are collected and arranged together with the necessary background material from Lévy processes, the modern theory of finite-difference schemes, the theory of M-matrices and EM-matrices, etc., thus forming a self-contained work that gives the reader a smooth introduction to the subject. For readers with no knowledge of finance, a short explanation of the main financial terms and notions used in the book is given in the glossary. The latter part of the book demonstrates the efficacy of the method by solvin...

Global strategies to reduce the price of antiretroviral medicines: evidence from transactional databases.

Science.gov (United States)

Waning, Brenda; Kaplan, Warren; King, Alexis C; Lawrence, Danielle A; Leufkens, Hubert G; Fox, Matthew P

2009-07-01

To estimate the impact of global strategies, such as pooled procurement arrangements, third-party price negotiation and differential pricing, on reducing the price of antiretrovirals (ARVs), which currently hinders universal access to HIV/AIDS treatment. We estimated the impact of global strategies to reduce ARV prices using data on 7253 procurement transactions (July 2002-October 2007) from databases hosted by WHO and the Global Fund to Fight AIDS, Tuberculosis and Malaria. For 19 of 24 ARV dosage forms, we detected no association between price and volume purchased. For the other five ARVs, high-volume purchases were 4-21% less expensive than medium- or low-volume purchases. Nine of 13 generic ARVs were priced 6-36% lower when purchased under the Clinton Foundation HIV/AIDS Initiative (CHAI). Fifteen of 18 branded ARVs were priced 23-498% higher for differentially priced purchases compared with non-CHAI generic purchases. However, two branded, differentially priced ARVs were priced 63% and 73% lower, respectively, than generic non-CHAI equivalents. Large purchase volumes did not necessarily result in lower ARV prices. Although current plans for pooled procurement will further increase purchase volumes, savings are uncertain and should be balanced against programmatic costs. Third-party negotiation by CHAI resulted in lower generic ARV prices. Generics were less expensive than differentially priced branded ARVs, except where little generic competition exists. Alternative strategies for reducing ARV prices, such as streamlining financial management systems, improving demand forecasting and removing barriers to generics, should be explored.

Determinants of the energy price system in the Federal Republic of Germany

Energy Technology Data Exchange (ETDEWEB)

Hennicke, P.

1983-01-01

The seven theses presented in this article are to illustrate some basic determinants of the West German energy price system systematically and - at present mainly - empirically. The theses are related to the following sub-aspects: - relation between the consumption structure of primary energy and the heat-price relations, - influence of energy imports on the domestic energy price level, - existence and dimensions of differential revenues, - reproaches of bulling made to the petroleum industry, - extent and development of the differentiation of energy prices, - influence of governmental interventions on the energy price level, - theoretical price fixing principles and actual tariff policy.

Pricing of Contracts for Difference in the Nordic market

International Nuclear Information System (INIS)

Kristiansen, T.

2004-01-01

The purpose of this paper is to give an introduction to, and a pricing analysis of a new forward locational price differential product, Contracts for Difference (CfD), introduced the 17th of November 2000 at Nord Pool - the Nordic electricity exchange. To our knowledge there is no literature available of how the Nordic CfDs are priced. The CfD is a forward market product with reference to the difference between the future seasonal Area Price and System Price. By using available historical trading prices and spot prices for four seasonal contracts and one yearly contract, we analyze the relationships between the contract prices and the value of the underlying asset. For the first four seasonal contracts it appears that CfDs traded at Nord Pool are mostly over-priced relative to the underlying asset. Pricing theory for forward contracts explains this by the presence of a majority of risk-averse consumers who are willing to pay a risk premium for receiving the future price differential. We utilize statistical analysis with regard to the contract prices and the underlying asset, and find some interesting relationships. The analysis is preliminary due to the fact that the CfD market is relatively new. (Author)

American option pricing with stochastic volatility processes

Directory of Open Access Journals (Sweden)

Ping LI

2017-12-01

Full Text Available In order to solve the problem of option pricing more perfectly, the option pricing problem with Heston stochastic volatility model is considered. The optimal implementation boundary of American option and the conditions for its early execution are analyzed and discussed. In view of the fact that there is no analytical American option pricing formula, through the space discretization parameters, the stochastic partial differential equation satisfied by American options with Heston stochastic volatility is transformed into the corresponding differential equations, and then using high order compact finite difference method, numerical solutions are obtained for the option price. The numerical experiments are carried out to verify the theoretical results and simulation. The two kinds of optimal exercise boundaries under the conditions of the constant volatility and the stochastic volatility are compared, and the results show that the optimal exercise boundary also has stochastic volatility. Under the setting of parameters, the behavior and the nature of volatility are analyzed, the volatility curve is simulated, the calculation results of high order compact difference method are compared, and the numerical option solution is obtained, so that the method is verified. The research result provides reference for solving the problems of option pricing under stochastic volatility such as multiple underlying asset option pricing and barrier option pricing.

Does Online Investor Sentiment Affect the Asset Price Movement? Evidence from the Chinese Stock Market

Directory of Open Access Journals (Sweden)

Chi Xie

2017-01-01

Full Text Available With the quick development of the Internet, online platforms that provide financial news and opinions have attracted more and more attention from investors. The question whether investor sentiment expressed on the Internet platforms has an impact on asset return has not been fully addressed. To this end, this paper uses the Baidu Searching Index as the agent variable to detect the effect of online investor sentiment on the asset price movement in the Chinese stock market. The empirical study shows that although there is a cointegration relationship between online investor sentiment and asset return, the sentiment has a poor ability to predict the price, return, and volatility of asset price. Meanwhile, the structural break points of online investor sentiment do not lead to changes in the asset price movement. Based on the empirical mode decomposition of online investor sentiment, we find that high frequency components of online investor sentiment can be used to predict the asset price movement. Thus, the obtained results could be useful for risk supervision and asset portfolio management.

Upward Pricing Pressure in Two-Sided Markets

NARCIS (Netherlands)

Affeldt, P.; Filistrucchi, L.; Klein, T.J.

2012-01-01

Abstract: Pricing pressure indices have recently been proposed as alternative screening devices for horizontal mergers involving differentiated products. We extend the concept of Upward Pricing Pressure (UPP) proposed by Farrell and Shapiro (2010) to two-sided markets. Examples of such markets are

Online vs. On-Campus: An Analysis of Course Prices of U.S. Educational Institutions

Science.gov (United States)

Wang, Shouhong

2015-01-01

Pricing online courses is an important issue for managing online education. This research note reports a statistical analysis of price differences between online courses and on-campus courses at 103 US educational institutions based on the data available on the Internet. The finding indicates that educational institutions set significantly lower…

Energy Price Comparisons. Study on the quality of comparison sites for electricity and natural gas on the Internet; Energieprijsvergelijkers. Onderzoek naar de kwaliteit van vergelijkingssites voor elektriciteit en gas op het internet

Energy Technology Data Exchange (ETDEWEB)

Boezaard, P.M.; Van Liere, M.M.; Van Steenpaal, D.F.J.M.

2007-06-15

Internet sites with comparisons of prices for electricity and natural gas appear to be important tools for consumers. On a regular basis the Dutch Office of Energy Regulation (DTe) carries out a study on the quality of such price comparison sites. In this report the results of the June 2007 study are summarized. [Dutch] Voor een goedwerkende markt is een goed geinformeerde consument van belang. Uit de Consumentenmonitor, kwalitatief onderzoek dat de NMa in 2006 heeft laten uitvoeren, is gebleken dat de consument bij een overstap vaak gebruik maakt van prijsvergelijkingssites. Het belang van dergelijke sites neemt alleen maar toe. Door een grotere differentiatie aan producten en meer variatie in prijsstelling wordt een goede vergelijking van energieleveranciers voor de gemiddelde consument steeds lastiger. Ook voor de prijsvergelijkingssites neemt de complexiteit toe. De Directie Toezicht Energie (DTe) van de Nederlandse Mededingingsautoriteit (NMa) onderzoekt sinds 2004 jaarlijks de kwaliteit van (prijs)vergelijkingssites voor elektriciteit en gas. Gezien de groeiende complexiteit van de prijsvergelijkingen is het van belang dat de NMa dit onderzoek ook in 2007 uitvoert. In dit rapport worden de resultaten van dit jaar gepresenteerd. Daarnaast heeft de NMa voor het eerst een handleiding met tips voor de consument als bijlage bij dit rapport opgenomen.

THE DEPENDENCE OF INTERNET TOURISTS IN THE CHOICE OF TOURIST DESTINATIONS

Directory of Open Access Journals (Sweden)

ENEA CONSTANTA

2018-02-01

Full Text Available In tourism, as in any other industry, information plays an extremely important role. If until now some years planning a holiday was made only at the offices of travel agencies, now we have the alternative internet. The multitude of portals, last minute offers, early booking and city breaks can help plan a much dreamed vacation. All at a distance from a few clicks. You just need to be patient and willing to read a lot because the forums are filled with opinions and comments of those who have been in one place or another. Internal and external tourism recorded significant increases amid constant existence of an increasingly number of tourists and diversification of existing offers. According, investigations, this growth is the Internet, which managed to turn aggressive competition and prices. Based on various information about all destinations, routes and accommodation, tourists are increasingly demanding internet site allowing them to "visualize" holiday, and thus obliges travel agencies and hoteliers to provide better service better even at lower prices. This paper highlights the changes made in the tourism sector with remarkable developments of the computer era, and the Internet in particular.

Error Analysis for Fourier Methods for Option Pricing

KAUST Repository

Häppölä, Juho

2016-01-06

We provide a bound for the error committed when using a Fourier method to price European options when the underlying follows an exponential Levy dynamic. The price of the option is described by a partial integro-differential equation (PIDE). Applying a Fourier transformation to the PIDE yields an ordinary differential equation that can be solved analytically in terms of the characteristic exponent of the Levy process. Then, a numerical inverse Fourier transform allows us to obtain the option price. We present a novel bound for the error and use this bound to set the parameters for the numerical method. We analyze the properties of the bound for a dissipative and pure-jump example. The bound presented is independent of the asymptotic behaviour of option prices at extreme asset prices. The error bound can be decomposed into a product of terms resulting from the dynamics and the option payoff, respectively. The analysis is supplemented by numerical examples that demonstrate results comparable to and superior to the existing literature.

Price competition and equilibrium analysis in multiple hybrid channel supply chain

Science.gov (United States)

Kuang, Guihua; Wang, Aihu; Sha, Jin

2017-06-01

The amazing boom of Internet and logistics industry prompts more and more enterprises to sell commodity through multiple channels. Such market conditions make the participants of multiple hybrid channel supply chain compete each other in traditional and direct channel at the same time. This paper builds a two-echelon supply chain model with a single manufacturer and a single retailer who both can choose different channel or channel combination for their own sales, then, discusses the price competition and calculates the equilibrium price under different sales channel selection combinations. Our analysis shows that no matter the manufacturer and retailer choose same or different channel price to compete, the equilibrium price does not necessarily exist the equilibrium price in the multiple hybrid channel supply chain and wholesale price change is not always able to coordinate supply chain completely. We also present the sufficient and necessary conditions for the existence of equilibrium price and coordination wholesale price.

Strategy and the Internet.

Science.gov (United States)

Porter, M E

2001-03-01

Many of the pioneers of Internet business, both dot-coms and established companies, have competed in ways that violate nearly every precept of good strategy. Rather than focus on profits, they have chased customers indiscriminately through discounting, channel incentives, and advertising. Rather than concentrate on delivering value that earns an attractive price from customers, they have pursued indirect revenues such as advertising and click-through fees. Rather than make trade-offs, they have rushed to offer every conceivable product or service. It did not have to be this way--and it does not have to be in the future. When it comes to reinforcing a distinctive strategy, Michael Porter argues, the Internet provides a better technological platform than previous generations of IT. Gaining competitive advantage does not require a radically new approach to business; it requires building on the proven principles of effective strategy. Porter argues that, contrary to recent thought, the Internet is not disruptive to most existing industries and established companies. It rarely nullifies important sources of competitive advantage in an industry; it often makes them even more valuable. And as all companies embrace Internet technology, the Internet itself will be neutralized as a source of advantage. Robust competitive advantages will arise instead from traditional strengths such as unique products, proprietary content, and distinctive physical activities. Internet technology may be able to fortify those advantages, but it is unlikely to supplant them. Porter debunks such Internet myths as first-mover advantage, the power of virtual companies, and the multiplying rewards of network effects. He disentangles the distorted signals from the marketplace, explains why the Internet complements rather than cannibalizes existing ways of doing business, and outlines strategic imperatives for dot-coms and traditional companies.

Internet addiction: coping styles, expectancies, and treatment implications

OpenAIRE

Brand, Matthias; Laier, Christian; Young, Kimberly S.

2014-01-01

Internet addiction has become a serious mental health condition in many countries. To better understand the clinical implications of Internet addiction, this study tested statistically a new theoretical model illustrating underlying cognitive mechanisms contributing to development and maintenance of the disorder. The model differentiates between a generalized Internet addiction (GIA) and specific forms. This study tested the model on GIA on a population of general Internet users. The findings...

Will Online Learning Lower the Price of College?

Science.gov (United States)

Casement, William

2013-01-01

Online learning is revolutionizing the way colleges do business. Study via the Internet makes more knowledge more easily obtainable for more students than ever before. Along with expanded access to higher education, many people are optimistic about an accompanying benefit--a lower price tag. Basic economic factors make the prospect appear…

American Indian internet cigarette sales: another avenue for selling tobacco products.

Science.gov (United States)

Hodge, Felicia S; Geishirt Cantrell, Betty A; Struthers, Roxanne; Casken, John

2004-02-01

A study conducted by the University of Minnesota found that cigarettes can be purchased on American Indian-owned Internet sites for about one fifth of the price at grocery stores, making this a more convenient, lower-priced, and appealing method of purchasing cigarettes. Researchers and educators are challenged to address this new marketing ploy and to discover ways to curb rising smoking rates in American Indian communities.

Error Analysis for Fourier Methods for Option Pricing

KAUST Repository

Hä ppö lä , Juho

2016-01-01

We provide a bound for the error committed when using a Fourier method to price European options when the underlying follows an exponential Levy dynamic. The price of the option is described by a partial integro-differential equation (PIDE

Gas pricing in Europe. Pt. 1. Wholesale markets

International Nuclear Information System (INIS)

Donath, R.

1996-01-01

The article investigates gas pricing in the European procurement market and the wholesale markets of the most important EU consumer markets. It demonstrates that value-oriented pricing principles override cost-oriented pricing principles. For one thing, and independently of pricing principles, two- or three-part demand price systems or basic price systems are common. For another, the frequently encountered opportunities for the differentiation of prices show that as long as there is merely substitution competition instead of direct competition, gas suppliers have a certain degree of freedom in fixing their prices. By contrast, the introduction of direct competition in Great Britain has reduced suppliers' individual price fixing margins, because short-term supply and demand variations in the now created spot market are decisive for gas pricing. (orig.) [de

Coordinating Channels Under Price and Nonprice Competition

OpenAIRE

Ganesh Iyer

1998-01-01

This paper analyzes how manufacturers should coordinate distribution channels when retailers compete in price as well as important nonprice factors such as the provision of product information, free repair, faster check-out, or after-sales service. Differentiation among retailers in price and nonprice service factors is a central feature of markets ranging from automobiles and appliances to gasoline and is especially observed in the coexistence of high-service retailers and lower price discou...

``Power pricing`` in a competitive environment - from a cost-plus calculation to market oriented pricing; Strom-Pricing im Wettbewerb - Von der Kosten-Plus- zur marktfaehigen Preispolitik

Energy Technology Data Exchange (ETDEWEB)

Laker, M.; Herr, S. [Unternehmensberatung Simon Kucher und Partners, Bonn (Germany)]|[Strategy and Marketing Consultants GmbH, Cambridge, MA (United States)

1998-06-29

The days when electricity contracts were standardized with few modifications catered to customer needs are over. In liberalized electricity markets, pricing has become significantly more important. Survival in this competitive environment hinges not only on the absolute price level, but in particular on opportunities for price differentiation. The following article focuses on measures to create flexible pricing and contractual schemes. (orig.) [Deutsch] Die Zeiten einheitlicher Stromvertraege mit geringen Modifikationen sind vorbei. Durch die Liberalisierung des Strommarktes ist die Bedeutung des Preises drastisch gestiegen. Um im Wettbewerb ueberleben zu koennen, spielen nicht nur die absolute Preishoehe, sondern vor allem die Moeglichkeiten zur Preisdifferenzierung eine entscheidende Rolle. Erfolgversprechende Massnahmen zur flexiblen Preis- und Vertragsgestaltung stehen im Mittelpunkt dieses Aufsatzes. (orig.)

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

Science.gov (United States)

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

2013-11-01

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

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...

Semi-analytical MBS Pricing

DEFF Research Database (Denmark)

Rom-Poulsen, Niels

2007-01-01

This paper presents a multi-factor valuation model for fixed-rate callable mortgage backed securities (MBS). The model yields semi-analytic solutions for the value of MBS in the sense that the MBS value is found by solving a system of ordinary differential equations. Instead of modelling the cond......This paper presents a multi-factor valuation model for fixed-rate callable mortgage backed securities (MBS). The model yields semi-analytic solutions for the value of MBS in the sense that the MBS value is found by solving a system of ordinary differential equations. Instead of modelling...... interest rate model. However, if the pool size is specified in a way that makes the expectations solvable using transform methods, semi-analytic pricing formulas are achieved. The affine and quadratic pricing frameworks are combined to get flexible and sophisticated prepayment functions. We show...

Evaluating Pricing Strategy Using e-Commerce Data: Evidence and Estimation Challenges

OpenAIRE

Ghose, Anindya; Sundararajan, Arun

2006-01-01

As Internet-based commerce becomes increasingly widespread, large data sets about the demand for and pricing of a wide variety of products become available. These present exciting new opportunities for empirical economic and business research, but also raise new statistical issues and challenges. In this article, we summarize research that aims to assess the optimality of price discrimination in the software industry using a large e-commerce panel data set gathered from Amazon.com. We describ...

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

Science.gov (United States)

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

2015-08-01

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

Parallel Imports, Drag Price Control and Pharmaceutical Innovation

OpenAIRE

Ken Tabata; Testuya Shinkai; Satoru Tanaka; Makoto Okamura

2005-01-01

This paper examines how parallel importation influences pharmaceutical innovation and the welfare of the economy, when crossnational drug price differentials occur not only because of demand elasticity based factors, but also governmental drug price control based factors. By explicitly considering the governmental drug price control baaed factors, this paper shows that parallel importation may enhance pharmaceutical innovation, when the bargaining power of a foreign government is strong and t...

Research on nonlinear stochastic dynamical price model

International Nuclear Information System (INIS)

Li Jiaorui; Xu Wei; Xie Wenxian; Ren Zhengzheng

2008-01-01

In consideration of many uncertain factors existing in economic system, nonlinear stochastic dynamical price model which is subjected to Gaussian white noise excitation is proposed based on deterministic model. One-dimensional averaged Ito stochastic differential equation for the model is derived by using the stochastic averaging method, and applied to investigate the stability of the trivial solution and the first-passage failure of the stochastic price model. The stochastic price model and the methods presented in this paper are verified by numerical studies

Profit, productivity, and price differential: an international performance comparison of the natural gas transportation industry

International Nuclear Information System (INIS)

Jeong-Dong Lee; Sung-Bae Park; Tai-Yoo Kim

1999-01-01

The objective of this paper is to evaluate the performance of natural gas transportation utilities, focusing on the three-key strategic performance measures of profit, productivity, and price differential. We propose a methodology that expresses the three performance measures in a unified single equation using the Edgeworth index. The proposed methodology is applied to an international comparison of the performance of 28 natural gas transportation utilities operating in eight countries in which the business environments differ greatly. The empirical results show the possible causes of performance differences and may shed some light on the direction of regulatory policy, especially for developing countries that have relatively short histories in the natural gas industry, such as Korea. (author)

Financing the health care Internet.

Science.gov (United States)

Robinson, J C

2000-01-01

Internet-related health care firms have accelerated through the life cycle of capital finance and organizational destiny, including venture capital funding, public stock offerings, and consolidation, in the wake of heightened competition and earnings disappointments. Venture capital flooded into the e-health sector, rising from $3 million in the first quarter of 1998 to $335 million two years later. Twenty-six e-health firms went public in eighteen months, raising $1.53 billion at initial public offering (IPO) and with post-IPO share price appreciation greater than 100 percent for eighteen firms. The technology-sector crash hit the e-health sector especially hard, driving share prices down by more than 80 percent for twenty-one firms. The industry now faces an extended period of consolidation between e-health and conventional firms.

Current economic cost, the ARENH (Regulated Access to the Historic (EDF) Nuclear Energy Supplier) price, the differential rent and the scarcity rent of nuclear power: some observations

International Nuclear Information System (INIS)

Percebois, J.

2012-01-01

This article sets out to explain the ARENH mechanism, the regulated price at which the EDF (France's historic monopoly supplier) must sell part of its production to its competitors in the framework of the Nome Act (New Organisation of the Electricity Market). This price by its nature is different from the Current Economic Cost (CEC) of nuclear power, as estimated by France's Government Accounting Office in its report submitted in January 2012. These two approaches revert to the problem of the determination of the scarcity rent of nuclear power in the context of the liberalised European market, in which nuclear power benefits from a 'cost' advantage relative to thermal electricity generated from fossil fuels. Furthermore, scarcity rent is not the same thing as differential rent. Selling a nuclear kWh at the price of a 'gas' kWh at certain times results in a differential rent enabling nuclear generated power to cover fixed costs. One can only speak of scarcity rent for nuclear power when the price at which the kWh is sold allows the recovery of more than is necessary to cover overall costs of nuclear power and it is this scarcity rent and its allocation that is the subject of debate. (author)

Determinants of intention to purchase leisure travel over the Internet

OpenAIRE

Moital, Miguel; Vaughan, Roger; Edwards, Jonathan; Peres, Rita

2009-01-01

More than 10 years on since the launch of the Internet, there are clear differential levels of adoption of the Internet for purchasing leisure travel across countries. In some countries, such as Portugal, only a minority of travel purchasing is conducted over the Internet. This paper aims to contribute to a greater understanding of adoption of purchasing over the Internet by evaluating the determinants of intention to adopt the Internet for purchasing leisure travel. A number of variables are...

Comparison of the Microbial Quality of Lamb and Goat Meat Acquired from Internet and Local Retail Markets.

Science.gov (United States)

Kim, Chyer; Stein, Roslyn A; Pao, Steven

2015-11-01

This study was conducted to evaluate the microbial quality of lamb and goat meat sold through local (Virginia) and Internet (U. S.) retail markets. A total of 134 frozen meat products consisting of locally purchased lamb ground (LLG) and lamb chops and Internet-procured lamb ground, goat ground, lamb chops (ILC), goat chops (IGC), lamb stew, and goat stew were tested. Significantly higher levels of aerobic mesophiles, psychrotrophs, and coliforms were found in the meat locally acquired than in the meat procured from the Internet. Similar average prevalence (27%) of Escherichia coli was observed regardless of market source. Ground meat had significantly high levels and prevalence of mesophiles, psychrotrophs, coliforms, and Listeria spp. One sample of LLG contained Campylobacter, and one sample of IGC contained Salmonella. Listeria spp. were present in 23 to 40% and 17 to 80% of samples from local and Internet markets, respectively. Pulsed-field gel electrophoresis (PFGE) of isolated E. coli strains revealed brand specificity and genomic diversity. No isolate from different brands and market sources had matching PFGE profiles. The average price of Internet meat ($23.4/kg) was about 1.2 times higher than the price of local meat, except for ILC, whose price was 2.7 times higher. This study revealed differences in microbial quality of lamb and goat meat based on market source; thus, meat products should be handled carefully regardless of market source because of the presence of high microbial levels and the high prevalence of pathogens.

Regional Relative Price Disparities and Their Driving Forces

Directory of Open Access Journals (Sweden)

Eu Joon Chang

2017-09-01

Full Text Available This paper studies the long-run behavior of relative price dispersion among cities in Korea with a special emphasis on heterogeneous transitional patterns of price level dynamics. Formal statistical tests indicate considerable evidence for rejecting the null of relative price level convergence among the majority of cities over the sample period of 1985-2015. The analysis of gravity model suggests that the effect of transportation costs on intercity price level differentials is limited, while other socioeconomic factors, such as income, input factor prices, demographic structure, and housing price growth, play key roles in accounting for persistent regional price level disparities. Individual price levels are found to be better explained by a multiple-component model, and the deviations from PPP may be attributed to distinct stochastic common trends that are characterized by income and demographic structure.

5 CFR 591.213 - What prices does OPM collect?

Science.gov (United States)

2010-01-01

... ALLOWANCES AND DIFFERENTIALS Cost-of-Living Allowance and Post Differential-Nonforeign Areas Cost-Of-Living..., OPM estimates health insurance prices based on the employee's share of the premium costs and weights...

Endogenous versus exogenous generic reference pricing for pharmaceuticals.

Science.gov (United States)

Antoñanzas, F; Juárez-Castelló, C A; Rodríguez-Ibeas, R

2017-12-01

In this paper we carry out a vertical differentiation duopoly model applied to pharmaceutical markets to analyze how endogenous and exogenous generic reference pricing influence competition between generic and branded drugs producers. Unlike the literature, we characterize for the exogenous case the equilibrium prices for all feasible relevant reference prices. Competition is enhanced after the introduction of a reference pricing system. We also compare both reference pricing systems on welfare grounds, assuming two different objective functions for health authorities: (i) standard social welfare and (ii) gross consumer surplus net of total pharmaceutical expenditures. We show that regardless of the objective function, health authorities will never choose endogenous reference pricing. When health authorities are paternalistic, the exogenous reference price that maximizes standard social welfare is such that the price of the generic drug is the reference price while the price of the branded drug is higher than the reference price. When health authorities are not paternalistic, the optimal exogenous reference price is such that the price of the branded drug is the reference price while the price of the generic drug is lower than the reference price.

OPEC announcements and their effects on crude oil prices

International Nuclear Information System (INIS)

Lin, Sharon Xiaowen; Tamvakis, Michael

2010-01-01

We investigate evidence on the effects of OPEC announcements on world oil prices by examining announcements from both official conferences and ministerial meetings on major international crudes, including the key benchmarks and several other heavy and light grades. With data from 1982 to 2008, we use event study methodology and find differentiation in the magnitude and significance of market responses to OPEC quota decisions under different price bands. We also find some (weak) evidence of differentiation between light and heavy crude grades. (author)

The internet trade of counterfeit spirits in Russia – an emerging problem undermining alcohol, public health and youth protection policies? [version 2; referees: 2 approved

Directory of Open Access Journals (Sweden)

Maria Neufeld

2017-06-01

Full Text Available Counterfeit alcohol belongs to the category of unrecorded alcohol not reflected in official statistics. The internet trade of alcoholic beverages has been prohibited by the Russian Federation since 2007, but various sellers still offer counterfeit spirits (i.e., forged brand spirits over the internet to Russian consumers, mostly in a non-deceptive fashion at prices up to 15 times lower than in regular sale. The public health issues arising from this unregulated trade include potential harm to underage drinkers, hazards due to toxic ingredients such as methanol, but most importantly alcohol harms due to potentially increased drinking volumes due to low prices and high availability on the internet. The internet sale also undermines existing alcohol policies such as restrictions of sale locations, sale times and minimum pricing. The need to enforce measures against counterfeiting of spirits, but specifically their internet trade should be implemented as key elements of alcohol policies to reduce unrecorded alcohol consumption, which is currently about 33 % of total consumption in Russia.

The internet trade of counterfeit spirits in Russia – an emerging problem undermining alcohol, public health and youth protection policies? [version 1; referees: 2 approved

Directory of Open Access Journals (Sweden)

Maria Neufeld

2017-04-01

Full Text Available Counterfeit alcohol belongs to the category of unrecorded alcohol not reflected in official statistics. The internet trade of alcoholic beverages has been prohibited by the Russian Federation since 2007, but various sellers still offer counterfeit spirits (i.e., forged brand spirits over the internet to Russian consumers, mostly in a non-deceptive fashion at prices up to 15 times lower than in regular sale. The public health issues arising from this unregulated trade include potential harm to underage drinkers, hazards due to toxic ingredients such as methanol, but most importantly alcohol harms due to potentially increased drinking volumes due to low prices and high availability on the internet. The internet sale also undermines existing alcohol policies such as restrictions of sale locations, sale times and minimum pricing. The need to enforce measures against counterfeiting of spirits, but specifically their internet trade should be implemented as key elements of alcohol policies to reduce unrecorded alcohol consumption, which is currently about 33 % of total consumption in Russia.

The availability of prescription-only analgesics purchased from the internet in the UK.

Science.gov (United States)

Raine, Connie; Webb, David J; Maxwell, Simon R J

2009-02-01

Increasing numbers of people are accessing medicines from the internet. This online market is poorly regulated and represents a potential threat to the health of patients and members of the public. Prescription-only analgesics, including controlled opioids, are readily available to the UK public through internet pharmacies that are easily identified by popular search engines. The majority of websites do not require the customer to possess a valid prescription for the drug. Less than half provide an online health screen to assess suitability for supply. The majority have no registered geographical location. Analgesic medicines are usually purchased at prices significantly above British National Formulary prices and are often supplied in large quantities. These findings are of particular relevance to pain-management specialists who are trying to improve the rational use of analgesic drugs. To explore the availability to the UK population of prescription-only analgesics from the internet. Websites were identified by using several keywords in the most popular internet search engines. From 2000 websites, details of 96 were entered into a database. Forty-six (48%) websites sold prescription analgesics, including seven opioids, two non-opioids and 18 nonsteroidal anti-inflammatory drugs. Thirty-five (76%) of these did not require the customer to possess a valid prescription. Prescription-only analgesics, including controlled opioids, are readily available from internet websites, often without a valid prescription.

Technological advancements and Internet sexuality: does private access to the Internet influence online sexual behavior?

Science.gov (United States)

Daneback, Kristian; Månsson, Sven-Axel; Ross, Michael W

2012-08-01

The aim of this study was to investigate whether demographic characteristics and sexual behavior online and offline were associated with private, respectively, nonprivate access to the Internet in a Web sample of people who use the Internet for sexual purposes. A total of 1,913 respondents completed an online questionnaire about Internet sexuality, and 1,614 reported using the Internet for sexual purposes. The majority of these respondents reported having access to an Internet-connected computer no one else had access to (62 percent women and 70 percent men). The results showed that it is possible to differentiate between those who have access to an Internet-connected computer no one else has access to and those who have shared access to an Internet-connected computer. Not only did they differ in demographic characteristics, but also in the sexual activities they engaged in on the Internet. Different patterns were found for women and men. For example, men who had private access to Internet-connected computers were more likely than those who had shared access to seek information about sexual issues. Thus, having access to Internet computers no one else has access to may promote sexual knowledge and health for men. The results of this study along with the technological development implies that in future research, attention should be paid to where and how people access the Internet in relation to online behavior in general and online sexual behavior in particular.

Rethinking internet skills: the contribution of gender, age, education, internet experience, and hours online to medium- and content-related internet skills

NARCIS (Netherlands)

van Deursen, Alexander Johannes Aloysius Maria; van Dijk, Johannes A.G.M.; Peters, O.

2011-01-01

This paper focuses on one of the factors that appears to be important in several conceptualizations of how to approach the digital divide: the differential possession of so-called Internet skills. Three large-scale performance tests are conducted to reveal the contributions of gender, age,

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

Directory of Open Access Journals (Sweden)

Zhongwei Jake Zhang

2014-12-01

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

On production costs in vertical differentiation models

OpenAIRE

Dorothée Brécard

2009-01-01

In this paper, we analyse the effects of the introduction of a unit production cost beside a fixed cost of quality improvement in a duopoly model of vertical product differentiation. Thanks to an original methodology, we show that a low unit cost tends to reduce product differentiation and thus prices, whereas a high unit cost leads to widen product differentiation and to increase prices

Pricing of Staple Foods at Supermarkets versus Small Food Stores.

Science.gov (United States)

Caspi, Caitlin E; Pelletier, Jennifer E; Harnack, Lisa J; Erickson, Darin J; Lenk, Kathleen; Laska, Melissa N

2017-08-15

Prices affect food purchase decisions, particularly in lower-income communities, where access to a range of food retailers (including supermarkets) is limited. The aim of this study was to examine differences in staple food pricing between small urban food stores and the closest supermarkets, as well as whether pricing differentials varied based on proximity between small stores and larger retailers. In 2014, prices were measured for 15 staple foods during store visits in 140 smaller stores (corner stores, gas-marts, dollar stores, and pharmacies) in Minneapolis/St. Paul, MN and their closest supermarket. Mixed models controlling for store type were used to estimate the average price differential between: (a) smaller stores and supermarkets; (b) isolated smaller stores (>1 mile to closest supermarket) and non-isolated smaller stores; and (c) isolated smaller stores inside versus outside USDA-identified food deserts. On average, all items except white bread were 10-54% more expensive in smaller stores than in supermarkets ( p Prices were generally not significantly different in isolated stores compared with non-isolated stores for most items. Among isolated stores, there were no price differences inside versus outside food deserts. We conclude that smaller food stores have higher prices for most staple foods compared to their closest supermarket, regardless of proximity. More research is needed to examine staple food prices in different retail spaces.

On pure-strategy Nash equilibria in price-quantity games

NARCIS (Netherlands)

Bos, I.; Vermeulen, A.J.

2015-01-01

This paper examines the existence and characteristics of pure-strategy Nash equilibria in oligopoly models in which firms set both prices and quantities. Existence is proved for a broad and natural class of price-quantity games. With differentiated products, the equilibrium outcome is similar to

The Access Pricing Problem: A Synthesis.

OpenAIRE

Armstrong, Mark; Doyle, Chris; Vickers, John

1996-01-01

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

The Influence of the Internet on globalization process

Directory of Open Access Journals (Sweden)

Artur Borcuch

2012-06-01

Full Text Available We are being influenced by the rush of economic and social forces. Internet is perhaps the most visible aspect of globalization and in many ways its driving force. The process of globalization can be understood as the global reach of communications technology and capital movements. The globalization of financial markets means that the movement of exchange rates, interest rates, and stock prices in various countries are intimately interconnected. From the social point of view, globalization is changing the nature of global social relations. The aim of this article is to demonstrate (in a few examples, how does Internet affect the process of globalization?

Pricing strategies and service differentiation

NARCIS (Netherlands)

Mandjes, M.R.H.

2004-01-01

This paper analyzes a communication network, used by customers with heterogeneous service requirements. We investigate priority queueing as a way to establish service differentiation. It is assumed that there is an infinite population of customers, who join the network as long as their utility

Price as an Indicator for Quality in International Trade?

DEFF Research Database (Denmark)

Hansen, Jørgen Drud; Nielsen, Jørgen Ulff-Møller

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

Price as an indicator for quality in international trade?

DEFF Research Database (Denmark)

Hansen, Jørgen Drud; Nielsen, Jørgen Ulff-Møller

2011-01-01

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

Improving and optimising road pricing in Copenhagen

DEFF Research Database (Denmark)

Nielsen, Otto Anker; Larsen, Marie Karen

2008-01-01

though quite a number of proposed charging systems have been examined only a few pricing strategies have been investigated. This paper deals with the optimisation of different designs for a road pricing system in the Greater Copenhagen area with respect to temporal and spatial differentiation......The question whether to introduce toll rings or road pricing in Copenhagen has been discussed intensively during the last 10 years. The main results of previous analyses are that none of the systems would make a positive contribution at present, when considered from a socio-economic view. Even...... of the pricing levels. A detailed transport model was used to describe the demand effects. The model was based on data from a real test of road pricing on 500 car drivers. The paper compares the price systems with regard to traffic effects and generalised costs for users and society. It is shown how important...

Pricing strategies, the strength of bidding intentions, and online auction performance: a cross-cultural study.

Science.gov (United States)

Peng, Yu-Shu; Jan, Lih-Tsyr

2009-10-01

Over the past decade, electronic markets based on the Internet, particularly online auctions, have become popular venues for conducting business. Previous studies often focused on the construction of the best bidding model, while few studies have tried to integrate multiple pricing strategies to predict the probability of closing an auction and the price premium. This study constructs a mediated model to examine the relationship among pricing strategies, the strength of bidding intentions, and online auction performance. The sample consists of 1,055 auctions of iPod MP3 players from eBay Web sites in Hong Kong, Singapore, Belgium, and France. Empirical results show that the pricing strategies directly influence both the probability of closing an auction and the level of price premium. The pricing strategies also indirectly influence the price premium through the mediating effect of the strength of bidding intentions.

Territorial differentiation of incomes adjusted for inflation

Directory of Open Access Journals (Sweden)

Marina Valeryevna, Moroshkina

2017-06-01

Full Text Available Objective to analyze and evaluate the regional disparities of socioeconomic development of the Russian regions in terms of income differentiation adjusted for the level of inflation. Methods indicator by which to measure the level of regional growth heterogeneity is Gini coefficient allowing to determine the degree of the Russian regionsrsquo deviation from absolute equality. The unique feature of the authorrsquos approach is the calculation and analysis of the Gini coefficient not only in current prices but also in comparable prices of 1991. Thus the comparison of the Gini coefficient in terms of quotper capita incomequot in the period from 1991 to 2013 in comparable and current prices allows to estimate the impact of changes in the prices level on the dynamics of regional development. Results the article states that the regions differentiation by the level of economic development determines the necessity of considering this factor in economic policy areas. In these circumstances the analysis of income differentiation of the Russian regions has to take the impact of inflation into account. The article reviews the Russian and foreign research in the sphere of the income differentiation. Significant scientific interest to the problem of regional inequality is obvious over the past several decades. Approaches and methods of assessing the level of regional disparities are systematized as well as its key performance indicators. To assess the level of differentiation of Russian regions we used the Gini coefficient which was calculated not only by current but also by comparable prices. The calculation was carried out basing on the recalculation of the per capita income using the consumer price index. In the framework of the analysis the calculated Gini coefficient for per capita income by current and integrated prices allowed to observe the differential behavior of this indicator. In terms of quotper capita incomequot by current prices there is a

Feasibility and attractiveness of indication value-based pricing in key EU countries.

Science.gov (United States)

Flume, Mathias; Bardou, Marc; Capri, Stefano; Sola-Morales, Oriol; Cunningham, David; Levin, Lars-Ake; Touchot, Nicolas

2016-01-01

Indication value-based pricing (IBP) has been proposed in the United States as a tool to capture the differential value of drugs across indications or patient groups and is in the early phases of implementation. In Europe, no major country has experimented with IBP or is seriously discussing its use. We assessed how the reimbursement and pricing environment allows for IBP in seven European countries, evaluating both incentives and hurdles. In price setting countries such as France and Germany, the Health Technology Assessment and pricing process already accounts for differences of value across indications. In countries where differential value drives coverage decisions such as the United Kingdom and Sweden, IBP is likely to be used, at least partially, but not in the short-term. Italy is already achieving some form of differential value through managed entry agreements, whereas in Spain the electronic prescription system provides the infrastructure necessary for IBP but other hurdles exist.

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

Directory of Open Access Journals (Sweden)

Muqaddas Naz

2018-02-01

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

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 ...

Learning monopolies with delayed feedback on price expectations

Science.gov (United States)

Matsumoto, Akio; Szidarovszky, Ferenc

2015-11-01

We call the intercept of the price function with the vertical axis the maximum price and the slope of the price function the marginal price. In this paper it is assumed that a monopolistic firm has full information about the marginal price and its own cost function but is uncertain on the maximum price. However, by repeated interaction with the market, the obtained price observations give a basis for an adaptive learning process of the maximum price. It is also assumed that the price observations have fixed delays, so the learning process can be described by a delayed differential equation. In the cases of one or two delays, the asymptotic behavior of the resulting dynamic process is examined, stability conditions are derived. Three main results are demonstrated in the two delay learning processes. First, it is possible to stabilize the equilibrium which is unstable in the one delay model. Second, complex dynamics involving chaos, which is impossible in the one delay model, can emerge. Third, alternations of stability and instability (i.e., stability switches) occur repeatedly.

Prices and heterogeneous search costs

NARCIS (Netherlands)

Luis Moraga-Gonzalez, Jose; Sandor, Zsolt; Wildenbeest, Matthijs R.

2017-01-01

We study price formation in a model of consumer search for differentiated products in which consumers have heterogeneous search costs. We provide conditions under which a pure-strategy symmetric Nash equilibrium exists and is unique. Search costs affect two margins-the intensive search margin (or

Pricing strategy in a dual-channel and remanufacturing supply chain system

Science.gov (United States)

Jiang, Chengzhi; Xu, Feng; Sheng, Zhaohan

2010-07-01

This article addresses the pricing strategy problems in a supply chain system where the manufacturer sells original products and remanufactured products via indirect retailer channels and direct Internet channels. Due to the complexity of that system, agent technologies that provide a new way for analysing complex systems are used for modelling. Meanwhile, in order to reduce the computational load of searching procedure for optimal prices and profits, a learning search algorithm is designed and implemented within the multi-agent supply chain model. The simulation results show that the proposed model can find out optimal prices of original products and remanufactured products in both channels, which lead to optimal profits of the manufacturer and the retailer. It is also found that the optimal profits are increased by introducing direct channel and remanufacturing. Furthermore, the effect of customer preference, direct channel cost and remanufactured unit cost on optimal prices and profits are examined.

Skimming or Penetration? Strategic Dynamic Pricing for New Products

OpenAIRE

Spann, Martin; Fischer, Marc; Tellis, Gerard J.

2015-01-01

Current complex dynamic markets are characterized by numerous brands, each with multiple products and price points, and differentiated on a variety of product attributes plus a large number of new product introductions. This study seeks to analyze dynamic pricing paths in a highly complex branded market, consisting of 663 products under 79 brand names of digital cameras. The authors develop a method to classify dynamic pricing strategies and analyze the choice and correlates of observed prici...

Setting Fair Prices – Fundamental Principle Of Sustainable Marketing

OpenAIRE

Cătoiu, Iacob; Vrânceanu, Diana Maria; Filip, Alina

2010-01-01

In commercial area, the price has a major importance, being frequently considered among the main criteria used in buying decision process. Price fairness derives from equity theory and it is focused on assuring in a transaction a reasonable report between the customer’s sacrifice and the value offered by the seller. In three marketing experiments we have evaluated customers’ fairness perceptions of differential prices, this tactic being frequently used by sellers. One important finding was th...

PRICE AND PRICING STRATEGIES

OpenAIRE

SUCIU Titus

2013-01-01

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

The Physics of Traffic Congestion and Road Pricing in Transportation Planning

Science.gov (United States)

Levinson, David

2010-03-01

This presentation develops congestion theory and congestion pricing theory from its micro- foundations, the interaction of two or more vehicles. Using game theory, with a two- player game it is shown that the emergence of congestion depends on the players' relative valuations of early arrival, late arrival, and journey delay. Congestion pricing can be used as a cooperation mechanism to minimize total costs (if returned to the players). The analysis is then extended to the case of the three- player game, which illustrates congestion as a negative externality imposed on players who do not themselves contribute to it. A multi-agent model of travelers competing to utilize a roadway in time and space is presented. To realize the spillover effect among travelers, N-player games are constructed in which the strategy set includes N+1 strategies. We solve the N-player game (for N = 7) and find Nash equilibria if they exist. This model is compared to the bottleneck model. The results of numerical simulation show that the two models yield identical results in terms of lowest total costs and marginal costs when a social optimum exists. Moving from temporal dynamics to spatial complexity, using consistent agent- based techniques, we model the decision-making processes of users and infrastructure owner/operators to explore the welfare consequence of price competition, capacity choice, and product differentiation on congested transportation networks. Component models include: (1) An agent-based travel demand model wherein each traveler has learning capabilities and unique characteristics (e.g. value of time); (2) Econometric facility provision cost models; and (3) Representations of road authorities making pricing and capacity decisions. Different from small-network equilibrium models in prior literature, this agent- based model is applicable to pricing and investment analyses on large complex networks. The subsequent economic analysis focuses on the source, evolution

THE EFFECTS OF CHANGING MARGIN LEVELS ON FUTURES OPTIONS PRICE

Institute of Scientific and Technical Information of China (English)

Yanling GU; Juan LI

2006-01-01

The paper studies the effects of changing margin levels on the price of futures options and how to organize a market maker's position. Black model (1976) becomes a special case of this paper.The paper prices futures options by duplicating them and adopting the theory of Backward Stochastic Differential Equations (BSDEs for short). Furthermore, the price of a futures option is the unique solution to a nonlinear BSDE.

Internet cigarette sales and Native American sovereignty: political and public health contexts.

Science.gov (United States)

Samuel, Kari A; Ribisl, Kurt M; Williams, Rebecca S

2012-05-01

Internet cigarette vendors (ICVs) advertise low prices for tobacco products, subverting public health policy efforts to curtail smoking by raising prices. Many online retailers in the United States claim affiliation with Native American tribes and share in tribal tax-free status. Sales of discounted cigarettes from both online vendors and brick-and-mortar stores have angered non-Native retailers and triggered enforcement actions by state and federal governments in the United States concerned over lost cigarette excise tax revenue. Examination of the history and politics of cigarette sales on reservations and attempts to regulate Internet cigarette sales highlights the potential role for greater use of negotiated intergovernmental agreements to address reservation-based tobacco sales. Our review notes global parallels and explicates history and politics of such regulation in the United States, and offers background for collaborative efforts to regulate tobacco sales and decrease tobacco use.

Oil-Price Shocks: Beyond Standard Aggregate Demand/Aggregate Supply Analysis.

Science.gov (United States)

Elwood, S. Kirk

2001-01-01

Explores the problems of portraying oil-price shocks using the aggregate demand/aggregate supply model. Presents a simple modification of the model that differentiates between production and absorption of goods, which enables it to better reflect the effects of oil-price shocks on open economies. (RLH)

Essays on pricing dynamics, price dispersion, and nested logit modelling

Science.gov (United States)

Verlinda, Jeremy Alan

The body of this dissertation comprises three standalone essays, presented in three respective chapters. Chapter One explores the possibility that local market power contributes to the asymmetric relationship observed between wholesale costs and retail prices in gasoline markets. I exploit an original data set of weekly gas station prices in Southern California from September 2002 to May 2003, and take advantage of highly detailed station and local market-level characteristics to determine the extent to which spatial differentiation influences price-response asymmetry. I find that brand identity, proximity to rival stations, bundling and advertising, operation type, and local market features and demographics each influence a station's predicted asymmetric relationship between prices and wholesale costs. Chapter Two extends the existing literature on the effect of market structure on price dispersion in airline fares by modeling the effect at the disaggregate ticket level. Whereas past studies rely on aggregate measures of price dispersion such as the Gini coefficient or the standard deviation of fares, this paper estimates the entire empirical distribution of airline fares and documents how the shape of the distribution is determined by market structure. Specifically, I find that monopoly markets favor a wider distribution of fares with more mass in the tails while duopoly and competitive markets exhibit a tighter fare distribution. These findings indicate that the dispersion of airline fares may result from the efforts of airlines to practice second-degree price discrimination. Chapter Three adopts a Bayesian approach to the problem of tree structure specification in nested logit modelling, which requires a heavy computational burden in calculating marginal likelihoods. I compare two different techniques for estimating marginal likelihoods: (1) the Laplace approximation, and (2) reversible jump MCMC. I apply the techniques to both a simulated and a travel mode

5 CFR 591.214 - How does OPM collect prices?

Science.gov (United States)

2010-01-01

... 5 Administrative Personnel 1 2010-01-01 2010-01-01 false How does OPM collect prices? 591.214 Section 591.214 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT CIVIL SERVICE REGULATIONS ALLOWANCES AND DIFFERENTIALS Cost-of-Living Allowance and Post Differential-Nonforeign Areas Cost-Of-Living...

Prices and Price Setting

NARCIS (Netherlands)

R.P. Faber (Riemer)

2010-01-01

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

Pricing Digital Goods: Discontinuous Costs and Shared Infrastructure

OpenAIRE

Ke-Wei Huang; Arun Sundararajan

2006-01-01

We develop and analyze a model of pricing for digital products with discontinuous supply functions. This characterizes a number of information technology-based products and services for which variable increases in demand are fulfilled by the addition of "blocks" of computing or network infrastructure. Examples include internet service, telephony, online trading, on-demand software, digital music, streamed video-on-demand and grid computing. These goods are often modeled as information goods w...

5 CFR 591.219 - How does OPM compute shelter price indexes?

Science.gov (United States)

2010-01-01

... REGULATIONS ALLOWANCES AND DIFFERENTIALS Cost-of-Living Allowance and Post Differential-Nonforeign Areas Cost-Of-Living Allowances § 591.219 How does OPM compute shelter price indexes? (a) In addition to rental...

Environmental economic calculation prices for emissions; Miljoeoekonomiske beregningspriser for emissioner

Energy Technology Data Exchange (ETDEWEB)

Skou Andersen, M.

2010-05-15

The project's aim has been to present updated environmental-economic calculation prices which make it possible to differentiate between traffic sources and stationary sources of air pollution. Furthermore, for the first time calculation prices for emissions to the aquatic environment and for the heavy metal lead are included. (ln)

Internet pornography viewing preference as a risk factor for adolescent Internet addiction: The moderating role of classroom personality factors.

Science.gov (United States)

Alexandraki, Kyriaki; Stavropoulos, Vasileios; Burleigh, Tyrone L; King, Daniel L; Griffiths, Mark D

2018-05-23

Background and aims Adolescent Internet pornography viewing has been significantly increased in the last decade with research highlighting its association with Internet addiction (IA). However, there is little longitudinal data on this topic, particularly in relation to peer context effects. This study aimed to examine age- and context-related variations in the Internet pornography-IA association. Methods A total of 648 adolescents, from 34 classrooms, were assessed at 16 years and then at 18 years to examine the effect of Internet pornography preference on IA in relation to the classroom context. IA was assessed using the Internet Addiction Test (Young, 1998), Internet pornography preference (over other Internet applications) was assessed with a binary (yes/no) question, and classroom introversion and openness to experience (OTE) with the synonymous subscales within the Five Factor Questionnaire (Asendorpf & Van Aken, 2003). Results Three-level hierarchical linear models were calculated. Findings showed that viewing Internet pornography exacerbates the risk of IA over time, while classroom factors, such as the average level of OTE and introversion, differentially moderate this relationship. Discussion and conclusion The study demonstrated that the contribution of Internet pornography preference (as an IA risk factor) might be increased in more extroverted classrooms and decreased in OTE classrooms.

Internet Addiction: Stability and Change

Science.gov (United States)

Huang, Chiungjung

2010-01-01

This longitudinal study examined five indices of stability and change in Internet addiction: structural stability, mean-level stability, differential stability, individual-level stability, and ipsative stability. The study sample was 351 undergraduate students from end of freshman year to end of junior year. Convergent findings revealed stability…

Internet Retailing as a Marketing Strategy

OpenAIRE

Janssen, Maarten; Noll, R.

2005-01-01

textabstractWe analyze the incentives for incumbent bricks-and-mortar firms and new entrants to start an online retail channel in a differentiated goods market. To this end we set up a two-stage model where firms first decide whether or not to build the infrastructure necessary to start an online retail channel and then compete in prices using the channels they have opened up. Consumers trade-off the convenience of online shopping and the ease to compare prices, with online uncertainties. Wit...

Financial derivative pricing under probability operator via Esscher transfomation

Energy Technology Data Exchange (ETDEWEB)

Achi, Godswill U., E-mail: achigods@yahoo.com [Department of Mathematics, Abia State Polytechnic Aba, P.M.B. 7166, Aba, Abia State (Nigeria)

2014-10-24

The problem of pricing contingent claims has been extensively studied for non-Gaussian models, and in particular, Black- Scholes formula has been derived for the NIG asset pricing model. This approach was first developed in insurance pricing{sup 9} where the original distortion function was defined in terms of the normal distribution. This approach was later studied6 where they compared the standard Black-Scholes contingent pricing and distortion based contingent pricing. So, in this paper, we aim at using distortion operators by Cauchy distribution under a simple transformation to price contingent claim. We also show that we can recuperate the Black-Sholes formula using the distribution. Similarly, in a financial market in which the asset price represented by a stochastic differential equation with respect to Brownian Motion, the price mechanism based on characteristic Esscher measure can generate approximate arbitrage free financial derivative prices. The price representation derived involves probability Esscher measure and Esscher Martingale measure and under a new complex valued measure φ (u) evaluated at the characteristic exponents φ{sub x}(u) of X{sub t} we recuperate the Black-Scholes formula for financial derivative prices.

Financial derivative pricing under probability operator via Esscher transfomation

International Nuclear Information System (INIS)

Achi, Godswill U.

2014-01-01

The problem of pricing contingent claims has been extensively studied for non-Gaussian models, and in particular, Black- Scholes formula has been derived for the NIG asset pricing model. This approach was first developed in insurance pricing 9 where the original distortion function was defined in terms of the normal distribution. This approach was later studied6 where they compared the standard Black-Scholes contingent pricing and distortion based contingent pricing. So, in this paper, we aim at using distortion operators by Cauchy distribution under a simple transformation to price contingent claim. We also show that we can recuperate the Black-Sholes formula using the distribution. Similarly, in a financial market in which the asset price represented by a stochastic differential equation with respect to Brownian Motion, the price mechanism based on characteristic Esscher measure can generate approximate arbitrage free financial derivative prices. The price representation derived involves probability Esscher measure and Esscher Martingale measure and under a new complex valued measure φ (u) evaluated at the characteristic exponents φ x (u) of X t we recuperate the Black-Scholes formula for financial derivative prices

Financial derivative pricing under probability operator via Esscher transfomation

Science.gov (United States)

Achi, Godswill U.

2014-10-01

The problem of pricing contingent claims has been extensively studied for non-Gaussian models, and in particular, Black- Scholes formula has been derived for the NIG asset pricing model. This approach was first developed in insurance pricing9 where the original distortion function was defined in terms of the normal distribution. This approach was later studied6 where they compared the standard Black-Scholes contingent pricing and distortion based contingent pricing. So, in this paper, we aim at using distortion operators by Cauchy distribution under a simple transformation to price contingent claim. We also show that we can recuperate the Black-Sholes formula using the distribution. Similarly, in a financial market in which the asset price represented by a stochastic differential equation with respect to Brownian Motion, the price mechanism based on characteristic Esscher measure can generate approximate arbitrage free financial derivative prices. The price representation derived involves probability Esscher measure and Esscher Martingale measure and under a new complex valued measure φ (u) evaluated at the characteristic exponents φx(u) of Xt we recuperate the Black-Scholes formula for financial derivative prices.

To Differentiate or Not to Differentiate: A Question when Some Consumers Are Loyal

Directory of Open Access Journals (Sweden)

Yan MENG

2010-10-01

Full Text Available I analyze a duopoly that competes first in product characteristics and then in prices. I show that when there exist consumers that are loyal to specific brands with no regard for product characteristics, the second-stage price game doesn’t have a pure-strategy equilibrium or symmetric mixed-strategy equilibrium and the firms choose to maximize their product differentiation in the first stage, contrary to what is usually assumed in the price dispersion literature.

Retail Services and Pricing Decisions in a Closed-Loop Supply Chain with Remanufacturing

Directory of Open Access Journals (Sweden)

Zhen-Zheng Zhang

2015-02-01

Full Text Available Environmental and social responsibilities have led many manufacturers to used products recovery. Meanwhile, many manufacturers nowadays sell products via indirect retailer channels and direct Internet channels. This paper models a dual-channel closed-loop supply chain to improve the sustainability of products. We apply the two-stage optimization technique and the Nash game to examine the impacts of the retail services and the degree of customer loyalty to the retail channel on the pricing of players in a centralized and a decentralized dual-channel supply chain. Our results show that the retail services have a great impact on the manufacturer and the retailer’s pricing strategies. We also compare the differences of pricing strategies between a centralized and a decentralized dual-channel supply chain and suggest the optimal retail services and pricing decisions for the players in the supply chain.

Group Coupons: Interpersonal Bundling on the Internet

OpenAIRE

Yongmin Chen; Tianle Zhang

2012-01-01

Sellers sometimes offer goods for sale under both a regular price and a discount for group purchase if the consumer group reaches some minimum size. This selling practice, which we term interpersonal bundling, has been popularized on the Internet by companies such as Groupon. We explain why interpersonal bundling is a profitable strategy in the presence of demand uncertainty, and how it may further boost profits by stimulating product information dissemination. Other reasons for its profitabi...

The Effects of Brand Loyalty on Competitive Price Promotional Strategies

OpenAIRE

Jagmohan S. Raju; V. Srinivasan; Rajiv Lal

1990-01-01

This paper analyzes the role played by brand loyalty in determining optimal price promotional strategies used by firms in a competitive setting. (Loyalty is operationalized as the minimum price differential needed before consumers who prefer one brand switch to another brand.) Our objective is to examine how loyalties toward the competing brands influence whether or not firms would use price promotions in a product category. We also examine how loyalty differences lead to variations in the de...

Electricity wholesale market prices in Europe: Convergence?

International Nuclear Information System (INIS)

Zachmann, Georg

2008-01-01

This paper tests the hypothesis that the ongoing restructuring process in the European electricity sector has led to a common European market for electricity. Based on a Principal Component Analysis (PCA) of wholesale electricity prices in 2002-2006, we reject the assumption of full market integration. For several pairs of countries, the weaker hypothesis of (bilateral) convergence is accepted based on unit root tests (KPSS and ADF) and a convergence test based on filtered pairwise price relations. This indicates that the efforts to develop a single European market for electricity were so far only partially successful. We show that the daily auction prices of scarce cross-border transmission capacities are insufficient to explain the persistence of international price differentials. Empirically, our findings confirm the insufficiency of explicit capacity auctions as stated in the theoretical literature. (author)

Pharmaceutical pricing in Japan: market evidence for rheumatoid arthritis treatment.

Science.gov (United States)

Mahlich, Jörg; Kamae, Isao; Sruamsiri, Rosarin

2018-06-01

Drug price setting is one of the key challenges faced by the Japanese health care system. This study aims to identify the determinants of drug price in Japan using the example of the rheumatoid arthritis (RA) treatment market. In order to compare prices across different products, we calculated prices per defined daily dose using WHO methodology. Price determinants were calculated both at launch and over time using IMS quarterly data on medicines approved for RA treatment in Japan from 2012 to 2015. Pharmaceutical pricing was modeled as a function of clinical and economic variables using regression analysis. For prices at the launch we found that differences in efficacy are not reflected in price differentials. We also report that the number of products within a molecule class had a negative effect on prices while originator drugs maintained higher prices. Although the existing pricing rules in Japan are very comprehensive they do not necessarily capture differences in product characteristics. The findings here support the notion that competitive forces are weak in highly regulated markets such as Japan.

The Impact of Free Riding on Price and Service Competition in the Presence of E-Commerce Retailers

OpenAIRE

Steven Strauss

2002-01-01

An extensive literature has focused on price competition and the Internet; however, little attention has been given to the Internet's impact on service competition. Services include activities such as the provision of product information, repairs, faster checkout, after-sales advice/information, retail advertising, certification of products by limiting the available assortment size, and the ability to examine/test merchandise. A consumer "free rides" when the customer uses services at one ret...

Some Divergence Properties of Asset Price Models

Directory of Open Access Journals (Sweden)

Wolfgang Stummer

2001-12-01

Full Text Available Abstract: We consider asset price processes Xt which are weak solutions of one-dimensional stochastic differential equations of the form (equation (2 Such price models can be interpreted as non-lognormally-distributed generalizations of the geometric Brownian motion. We study properties of the Iα-divergence between the law of the solution Xt and the corresponding drift-less measure (the special case α=1 is the relative entropy. This will be applied to some context in statistical information theory as well as to arbitrage theory and contingent claim valuation. For instance, the seminal option pricing theorems of Black-Scholes and Merton appear as a special case.

Truck Drivers' Use of the Internet: A Mobile Health Lifeline.

Science.gov (United States)

Heaton, Karen; Combs, Bryan; Griffin, Russell

2017-06-01

Because of their social isolation, irregular and unpredictable schedules, limited access to health care, and long periods of travel, long-haul truckers may benefit from the use of mobile health applications on Internet-capable devices. The purpose of this study was to determine Internet access and usage among a sample of long-haul truck drivers. In this cross-sectional study, truck drivers completed a pencil and paper survey with questions on demographics, work and health histories, and Internet access and usage for both personal and job reasons. A total of 106 truck drivers were recruited from trucking industry trade shows, by word of mouth, and directly from trucking companies. Overall, the truck drivers' use of the Internet was limited. Their usage for personal and job-related reasons differed. Social connectivity and access to health and wellness information were important during personal usage time. Job-related Internet use was highly practical, and applied to seeking information for directions and maps, fuel stops and pricing, and communicating with employers or transmitting documents. Age and experience were associated with Internet use. Younger, less-experienced drivers used the Internet more than older, experienced drivers. Targeted mobile health messaging may be a useful tool to inform truck drivers of health conditions and plans, and may provide links to primary care providers needing to monitor or notify drivers of diagnostic results or treatment plans.

Structural change and forecasting long-run energy prices

International Nuclear Information System (INIS)

Bernard, J.T.; Khalaf, L.

2004-01-01

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

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

Science.gov (United States)

2010-01-01

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

Error analysis in Fourier methods for option pricing for exponential Lévy processes

KAUST Repository

Crocce, Fabian; Hä ppö lä , Juho; Keissling, Jonas; Tempone, Raul

2015-01-01

We derive an error bound for utilising the discrete Fourier transform method for solving Partial Integro-Differential Equations (PIDE) that describe european option prices for exponential Lévy driven asset prices. We give sufficient conditions

Analisis Perkembangan Internet Broadband di Daerah Perbatasan Sulawesi Utara

Directory of Open Access Journals (Sweden)

Riva'atul Adaniah Wahab

2016-12-01

infrastructure is still insufficient, the availability of high-quality internet broadband services with low rates are still difficult to realize. From the aspect of demand, stigma or the community perception that the internet is not important makes the people don't have internet access. The barriers is predominantly lack of knowledge in internet usage. This factor also causes community internet broadband literacy at level 0. As solutions, the preparation and establishment of policies and regulations such as the QoS service, interconnection, infrastructure sharing can provide high-quality internet broadband internet at a cheaper price. Besides the distribution of valuable mobile device (smartphone should also be encouraged by the application of local content level for the production of the device. No less important is the increase of community lietracy in internet broadband through socialization or training, both formal and informal.

5 CFR 591.224 - How does OPM adjust price indexes between surveys?

Science.gov (United States)

2010-01-01

... REGULATIONS ALLOWANCES AND DIFFERENTIALS Cost-of-Living Allowance and Post Differential-Nonforeign Areas Cost-Of-Living Allowances § 591.224 How does OPM adjust price indexes between surveys? (a) OPM adjusts...

Green Data Gathering under Delay Differentiated Services Constraint for Internet of Things

Directory of Open Access Journals (Sweden)

Mingfeng Huang

2018-01-01

Full Text Available Energy-efficient data gathering techniques play a crucial role in promoting the development of smart portable devices as well as smart sensor devices based Internet of Things (IoT. For data gathering, different applications require different delay constraints; therefore, a delay Differentiated Services based Data Routing (DSDR scheme is creatively proposed to improve the delay differentiated services constraint that is missed from previous data gathering studies. The DSDR scheme has three advantages: first, DSDR greatly reduces transmission delay by establishing energy-efficient routing paths (E2RPs. Multiple E2RPs are established in different locations of the network to forward data, and the duty cycles of nodes on E2RPs are increased to 1, so the data is forwarded by E2RPs without the existence of sleeping delay, which greatly reduces transmission latency. Secondly, DSDR intelligently chooses transmission method according to data urgency: the direct-forwarding strategy is adopted for delay-sensitive data to ensure minimum end-to-end delay, while wait-forwarding method is adopted for delay-tolerant data to perform data fusion for reducing energy consumption. Finally, DSDR make full use of the residual energy and improve the effective energy utilization. The E2RPs are built in the region with adequate residual energy and they are periodically rotated to equalize the energy consumption of the network. A comprehensive performance analysis demonstrates that the DSDR scheme has obvious advantages in improving network performance compared to previous studies: it reduces transmission latency of delay-sensitive data by 44.31%, reduces transmission latency of delay-tolerant data by 25.65%, and improves network energy utilization by 30.61%, while also guaranteeing the network lifetime is not lower than previous studies.

5 CFR 591.218 - How does OPM compute price indexes?

Science.gov (United States)

2010-01-01

... 5 Administrative Personnel 1 2010-01-01 2010-01-01 false How does OPM compute price indexes? 591.218 Section 591.218 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT CIVIL SERVICE REGULATIONS ALLOWANCES AND DIFFERENTIALS Cost-of-Living Allowance and Post Differential-Nonforeign Areas Cost-Of-Living...

Pricing strategies under heterogeneous service requirements

NARCIS (Netherlands)

Mandjes, M.R.H.

2003-01-01

This paper analyzes a communication network with heterogeneous customers. We investigate priority queueing as a way to differentiate between these users. Customers join the network as long as their utility (which is a function of the queueing delay) is larger than the price of the service. We focus

Internet and video technology in psychotherapy supervision and training.

Science.gov (United States)

Wolf, Abraham W

2011-06-01

The seven articles in this special section on the use of Internet and video technology represent the latest growth on one branch of the increasingly prolific and differentiated work in the technology of psychotherapy. In addition to the work presented here on video and the Internet applications to supervision and training, information technology is changing the field of psychotherapy through computer assisted therapies and virtual reality interventions.

Petroleum product pricing in Asian developing countries: Lessons from the past and future issues

International Nuclear Information System (INIS)

Bhattacharyya, S.C.

1997-01-01

This paper looks at the pricing of petroleum products in ten Asian developing countries using a data series for 1973--1992. Prices of petroleum products are compared with international prices. Differential prices are measured with respect to diesel prices. It is found that energy prices are used as instruments for revenue earnings. Pricing policies vary widely among countries and neighbors have different fuel prices. Countries try to align the local prices of petroleum products in line with international prices but with a lag of 1--2 years. The wave of liberalization and privatization is sweeping many developing countries. Additionally, environmental issues are gaining importance even in developing countries. The paper also discusses these emerging issues that need to be taken into account in the petroleum product pricing

Price Analysis and Acquisition of Indigenous Books in Nigerian Libraries

Directory of Open Access Journals (Sweden)

Juliana Iwu-James

2016-06-01

Full Text Available Price analysis promotes transparency and professional objectivity. How it is done actually depends, to a large extent, on available benchmarks often provided by book publishers. This paper submits that there are no price check tools for most books published in Nigeria. Therefore, acquisition librarians are oftentimes shortchanged and frustrated. This paper further examines the challenges of acquiring indigenous books in Nigerian libraries. It is revealed that publishers in Nigeria tend to focus on local distribution to bookstores or booksellers whereas internet or online sales channels and other viable means of making indigenous books available to libraries have remained neglected. It is recommended that publishers in Nigeria take advantage of information and communication technology (ICT to market and distribute indigenous books and that online book databases be developed for indigenous books. This study provides publishers with in-depth insight on the need to provide acquisition librarians with standard price checking tools.

The Pricing of Vulnerable Options in a Fractional Brownian Motion Environment

Directory of Open Access Journals (Sweden)

Chao Wang

2015-01-01

Full Text Available Under the assumption of the stock price, interest rate, and default intensity obeying the stochastic differential equation driven by fractional Brownian motion, the jump-diffusion model is established for the financial market in fractional Brownian motion setting. With the changes of measures, the traditional pricing method is simplified and the general pricing formula is obtained for the European vulnerable option with stochastic interest rate. At the same time, the explicit expression for it comes into being.

Real-time pricing when some consumers resist in saving electricity

International Nuclear Information System (INIS)

Salies, Evens

2013-01-01

Successful real-time electricity pricing depends firstly upon consumers' willingness to subscribe to such terms and, secondly, on their ability to curb consumption levels. The present paper addresses both issues by considering consumers differentiated by their electricity saving costs, half of whom resist saving electricity. We demonstrate that when consumers are free to adopt real-time prices, producers prefer charging inefficient prices and, in so doing, discriminate against that portion of the consumer population which faces no saving costs. We also find that efficient marginal cost pricing is feasible, but is incompatible with mass adoption of real-time prices. - Highlights: • We model consumers switching from uniform to real-time electricity pricing (RTP). • Half the consumer population is pro-RTP and half resists saving electricity. • Efficient RTP is feasible but is incompatible with mass adoption

Pricing Resources in LTE Networks through Multiobjective Optimization

Science.gov (United States)

Lai, Yung-Liang; Jiang, Jehn-Ruey

2014-01-01

The LTE technology offers versatile mobile services that use different numbers of resources. This enables operators to provide subscribers or users with differential quality of service (QoS) to boost their satisfaction. On one hand, LTE operators need to price the resources high for maximizing their profits. On the other hand, pricing also needs to consider user satisfaction with allocated resources and prices to avoid “user churn,” which means subscribers will unsubscribe services due to dissatisfaction with allocated resources or prices. In this paper, we study the pricing resources with profits and satisfaction optimization (PRPSO) problem in the LTE networks, considering the operator profit and subscribers' satisfaction at the same time. The problem is modelled as nonlinear multiobjective optimization with two optimal objectives: (1) maximizing operator profit and (2) maximizing user satisfaction. We propose to solve the problem based on the framework of the NSGA-II. Simulations are conducted for evaluating the proposed solution. PMID:24526889

Pricing resources in LTE networks through multiobjective optimization.

Science.gov (United States)

Lai, Yung-Liang; Jiang, Jehn-Ruey

2014-01-01

The LTE technology offers versatile mobile services that use different numbers of resources. This enables operators to provide subscribers or users with differential quality of service (QoS) to boost their satisfaction. On one hand, LTE operators need to price the resources high for maximizing their profits. On the other hand, pricing also needs to consider user satisfaction with allocated resources and prices to avoid "user churn," which means subscribers will unsubscribe services due to dissatisfaction with allocated resources or prices. In this paper, we study the pricing resources with profits and satisfaction optimization (PRPSO) problem in the LTE networks, considering the operator profit and subscribers' satisfaction at the same time. The problem is modelled as nonlinear multiobjective optimization with two optimal objectives: (1) maximizing operator profit and (2) maximizing user satisfaction. We propose to solve the problem based on the framework of the NSGA-II. Simulations are conducted for evaluating the proposed solution.

Pricing Resources in LTE Networks through Multiobjective Optimization

Directory of Open Access Journals (Sweden)

Yung-Liang Lai

2014-01-01

Full Text Available The LTE technology offers versatile mobile services that use different numbers of resources. This enables operators to provide subscribers or users with differential quality of service (QoS to boost their satisfaction. On one hand, LTE operators need to price the resources high for maximizing their profits. On the other hand, pricing also needs to consider user satisfaction with allocated resources and prices to avoid “user churn,” which means subscribers will unsubscribe services due to dissatisfaction with allocated resources or prices. In this paper, we study the pricing resources with profits and satisfaction optimization (PRPSO problem in the LTE networks, considering the operator profit and subscribers' satisfaction at the same time. The problem is modelled as nonlinear multiobjective optimization with two optimal objectives: (1 maximizing operator profit and (2 maximizing user satisfaction. We propose to solve the problem based on the framework of the NSGA-II. Simulations are conducted for evaluating the proposed solution.

Using internet snapshot surveys to enhance our understanding of the availability of the novel psychoactive substance 4-methylaminorex and 4,4'-dimethylaminorex.

Science.gov (United States)

Nizar, Hisham; Dargan, Paul I; Wood, David M

2015-03-01

4,4'-Dimethylaminorex is a stimulant novel psychoactive substance (NPS) first detected in Europe in November 2012. It is a derivative of 4-methylaminorex, a substance controlled under Schedule 1 of the 1971 United Nations Convention on Psychotropic Substances. There is currently no information on the availability or cost of these substances from Internet suppliers. An Internet snapshot study was undertaken in English using established European Monitoring Centre for Drugs and Drug Addiction (EMCDDA) methodology to determine the availability of 4-methylaminorex and 4,4'-dimethylaminorex in April 2014. Twenty Internet sites selling 4-methylaminorex were identified, 18 selling in US dollars and two in GB Pound Sterling. Fourteen (70 %) Internet sites had a minimum purchase amount of ≥10 g (compared to user doses of 10-25 mg). For the 18 suppliers selling in US$, 9 quoted a fixed price per gram irrespective of the amount ordered and 11 had a reducing price per gram with increasing purchase quantity (US$30.8 ± 34.2/g for 1 g purchase to US$15.2 ± 20.3/g for 1 kg purchase). Only one Internet site selling 4,4'-dimethylaminorex was identified, selling in Euros. The minimum purchase quantity was 500 mg. The price per gram reduced from 36.08/g for a 500 mg purchase to 2.20/g for a 100 g purchase. This Internet snapshot demonstrated that there was a greater availability from Internet suppliers of products advertised as 4-methylaminorex than 4,4'-dimethylaminorex, despite the 4-methylaminorex being an internationally controlled substance. Whilst this may reflect misunderstanding by suppliers, it has the potential to put those purchasing at risk of contravening border control and/or local law enforcement legislation. The use of methodology such as Internet snapshot surveys is of increasing interest to clinical/medical toxicologists in their understanding of the supply, availability and cost of novel psychoactive substances.

Impact of electricity prices on foreign direct investment: Evidence from the European Union

NARCIS (Netherlands)

Bartekova, E.; Ziesemer, T.H.W.

2015-01-01

In the course of recent years growing concerns over increasing energy prices have emerged in the context of maintaining Europe’s international competitiveness. In particular, rising electricity price differentials adversely affect firms’ total production costs and ultimately impact their investment

Frequency Based Real-time Pricing for Residential Prosumers

Science.gov (United States)

Hambridge, Sarah Mabel

This work is the first to explore frequency based pricing for secondary frequency control as a price-reactive control mechanism for residential prosumers. A frequency based real-time electricity rate is designed as an autonomous market control mechanism for residential prosumers to provide frequency support as an ancillary service. In addition, prosumers are empowered to participate in dynamic energy transactions, therefore integrating Distributed Energy Resources (DERs), and increasing distributed energy storage onto the distributed grid. As the grid transitions towards DERs, a new market based control system will take the place of the legacy distributed system and possibly the legacy bulk power system. DERs provide many benefits such as energy independence, clean generation, efficiency, and reliability to prosumers during blackouts. However, the variable nature of renewable energy and current lack of installed energy storage on the grid will create imbalances in supply and demand as uptake increases, affecting the grid frequency and system operation. Through a frequency-based electricity rate, prosumers will be encouraged to purchase energy storage systems (ESS) to offset their neighbor's distributed generation (DG) such as solar. Chapter 1 explains the deregulation of the power system and move towards Distributed System Operators (DSOs), as prosumers become owners of microgrids and energy cells connected to the distributed system. Dynamic pricing has been proposed as a benefit to prosumers, giving them the ability to make decisions in the energy market, while also providing a way to influence and control their behavior. Frequency based real-time pricing is a type of dynamic pricing which falls between price-reactive control and transactive control. Prosumer-to-prosumer transactions may take the place of prosumer-to-utility transactions, building The Energy Internet. Frequency based pricing could be a mechanism for determining prosumer prices and supporting

West Coast U.S. : demand and prices

International Nuclear Information System (INIS)

Lund, P.G.

1997-01-01

The outlook for Canadian natural gas in Western U.S. markets through the winter of 1997 and 1998 was discussed. The effect of El Nino on West Coast gas pricing was noted, while also admitting that the best scientific minds are unable to determine what these effects actually are. Both the Cambridge Energy Research Associates (CERA) and PIRA predicted that Topock (the border pricing point) prices will track the NYMEX Henry Hub prices. The three points that were emphasized for the winter of 1997-1998 were: (1) Western U.S. pricing is higher than last year, (2) there is a surplus of gas in Canada relative to export capacity, and (3) differentials are anticipated to remain in excess of full transportation costs. The 1997 gas accord rates were also noted and its significance discussed. Increased electric load growth is likely to result in higher electricity prices which may drag gas prices along with them. Any new power generation facility is likely to be gas-fired, a fact which should also help to maintain natural gas prices. Transmission pricing is the major unknown variable. It is well known that from a capital cost perspective it is about four times more expensive to build a high -Kv transmission line than to build a gas pipeline to deliver the equivalent amount of energy. Therefore, to the degree that transmission pricing favours building new generation near load centres, gas should do well. If on the other hand, transmission pricing favours building generation plants near the fuel source, gas probably would not do nearly as well. The effects will not be known until the relevant decisions have been made. 6 figs

Model Calibration in Option Pricing

Directory of Open Access Journals (Sweden)

Andre Loerx

2012-04-01

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

Evaluating the AS-level Internet models: beyond topological characteristics

International Nuclear Information System (INIS)

Fan Zheng-Ping

2012-01-01

A surge number of models has been proposed to model the Internet in the past decades. However, the issue on which models are better to model the Internet has still remained a problem. By analysing the evolving dynamics of the Internet, we suggest that at the autonomous system (AS) level, a suitable Internet model, should at least be heterogeneous and have a linearly growing mechanism. More importantly, we show that the roles of topological characteristics in evaluating and differentiating Internet models are apparently over-estimated from an engineering perspective. Also, we find that an assortative network is not necessarily more robust than a disassortative network and that a smaller average shortest path length does not necessarily mean a higher robustness, which is different from the previous observations. Our analytic results are helpful not only for the Internet, but also for other general complex networks. (interdisciplinary physics and related areas of science and technology)

Exchange rates and individual good's price misalignment: Some preliminary evidence of long-horizon predictability

OpenAIRE

Dong, Wei; Nam, Deokwoo

2011-01-01

When prices are sticky, movements in the nominal exchange rate have a direct impact on international relative prices. A relative price misalignment would trigger an adjustment in consumption and employment, and may help to predict future movements in the exchange rate. Although purchasing-power-parity fundamentals, in general, have only weak predictability, currency misalignment may be indicated by price differentials for some goods, which could then have predictive power for subsequent re-ev...

The Tripartite Game Model for Electricity Pricing in Consideration of the Power Quality

Directory of Open Access Journals (Sweden)

Tianlei Zang

2017-12-01

Full Text Available Under the Energy Internet concept the distribution and management of resources in the electricity market have been gradually transiting from a centralized pattern to a decentralized pattern. Correspondingly, the methodological model for the analysis of economic behaviors needs to be upgraded too. Based on the idea of non-cooperative game theory, this paper puts forward a tripartite game model for electricity pricing in consideration of the power quality, which is applicable to the electricity market under the Energy Internet with distributed generation, including the State Grid Corporation of China (SGCC, generating companies (GENCOs and the marketers which correspond to the regional power-retailing companies. Then, the sequential quadratic programming based on the quasi-Newton method is given to solve the game model. Finally, four sets of tests with different game factors are carried out to verify the validity and feasibility of the proposed model and algorithm. The SGCC price, the cost and the number of GENCOs and the cross-regional environment are considered in each test, respectively. The results show that this model can adapt well to the various conditions.

Price schedules coordination for electricity pool markets

Science.gov (United States)

Legbedji, Alexis Motto

2002-04-01

We consider the optimal coordination of a class of mathematical programs with equilibrium constraints, which is formally interpreted as a resource-allocation problem. Many decomposition techniques were proposed to circumvent the difficulty of solving large systems with limited computer resources. The considerable improvement in computer architecture has allowed the solution of large-scale problems with increasing speed. Consequently, interest in decomposition techniques has waned. Nonetheless, there is an important class of applications for which decomposition techniques will still be relevant, among others, distributed systems---the Internet, perhaps, being the most conspicuous example---and competitive economic systems. Conceptually, a competitive economic system is a collection of agents that have similar or different objectives while sharing the same system resources. In theory, constructing a large-scale mathematical program and solving it centrally, using currently available computing power can optimize such systems of agents. In practice, however, because agents are self-interested and not willing to reveal some sensitive corporate data, one cannot solve these kinds of coordination problems by simply maximizing the sum of agent's objective functions with respect to their constraints. An iterative price decomposition or Lagrangian dual method is considered best suited because it can operate with limited information. A price-directed strategy, however, can only work successfully when coordinating or equilibrium prices exist, which is not generally the case when a weak duality is unavoidable. Showing when such prices exist and how to compute them is the main subject of this thesis. Among our results, we show that, if the Lagrangian function of a primal program is additively separable, price schedules coordination may be attained. The prices are Lagrange multipliers, and are also the decision variables of a dual program. In addition, we propose a new form of

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

Mitigating Distributed Denial of Service Attacks with Dynamic Resource Pricing

National Research Council Canada - National Science Library

Mankins, David

2001-01-01

.... By employing different price and purchase functions, the architecture can provide service quality differentiation and furthermore, select good client behavior and discriminate against adversarial behavior...

Using Internet Snapshot Surveys to Enhance Our Understanding of the Availability of the Novel Psychoactive Substance Alpha-methyltryptamine (AMT).

Science.gov (United States)

Wood, David Michael; Dargan, Paul Ivor

2013-07-02

Alpha-methyltryptamine (AMT) is a novel psychoactive substance available over the Internet. This study used European Monitoring Centre for Drugs and Drug Addiction (EMCDDA) Internet snapshot methodology to investigate the availability and cost of AMT in March/October 2012. From March to October 2012, there was a decrease in the number of Internet sites selling AMT (44 to 31). AMT powder was cheaper in "bulk" (100 g) than in "recreational-user" (100 mg) quantities, and there was a decrease in price. Data from Internet snapshot surveys complement and allow triangulation of data from other sources to build a more detailed picture on availability and use of novel psychoactive substances.

The emergence of internet-based virtual private networks in international safeguards

International Nuclear Information System (INIS)

Smartt, Heidi Anne

2001-01-01

Full text: The costs associated with secure data transmission can be an obstacle to International Safeguards. Typical communication methods are priced by distance and may include telephone lines, frame relay, and ISDN. It is therefore costly to communicate globally. The growth of the Internet has provided an extensive backbone for global communications; however, the Internet does not provide intrinsic security measures. Combining the Internet with Virtual Private Network technology, which encrypts and authenticates data, creates a secure and potentially cost-effective data transmission path, as well as achieving other benefits such as reliability and scalability. Access to the Internet can be achieved by connecting to a local Internet Service Provider, which can be preferable to installing a static link between two distant points. The cost-effectiveness of the Internet-based Virtual Private Network is dependent on such factors as data amount, current operational costs, and the specifics of the Internet connection, such as user proximity to an Internet Service Provider or existing access to the Internet. This paper will introduce Virtual Private Network technology, the benefits of Internet communication, and the emergence of Internet-based Virtual Private Networks throughout the International Safeguards community. Specific projects to be discussed include: The completed demonstration of secure remote monitoring data transfer via the Internet between STUK in Helsinki, Finland, and the IAEA in Vienna, Austria; The demonstration of secure remote access to IAEA resources by traveling inspectors with Virtual Private Network software loaded on laptops; The proposed Action Sheets between ABACC/DOE and ARN/DOE, which will provide a link between Rio de Janeiro and Buenos Aires; The proposed use at the HIFAR research reactor, located in Australia, to provide remote monitoring data to the IAEA; The use of Virtual Private Networks by JRC, Ispra, Italy. (author)

Internet Discourse: Metalanguage Models of Practice

Directory of Open Access Journals (Sweden)

Aleksandr Arkadyevich Barkovich

2015-12-01

Full Text Available The article is devoted to the identification and systematization of generalized prototypical traits of online communication in linguistic context. The identification of these traits and their presentation in the form of models is an important issue of objective metadescription of modern speech practice. The involvement of discursive paradigm for the characterization of speech practice is relevant in the context of dynamic development of communication: discourse is speech activity, extended in time and space, and is due to wide extra-linguistic context and communicational specifics. Paradigmatic flexibility of discourse is in demand in different methodological perspectives: humanistic, cognitive-semiotic, metalinguistic, phenomenological, etc. Internet as a phenomenon of communication is a modern representative object of interdisciplinary scientific development. The key concept in this regard is the Internet-discourse – speech practice in the field of computer-mediated communication that is due to the format of the Internet. In the context of metalanguage modeling of Internet discourse phenomenological, structural and functional types of models can be highlighted; the typology of, for example, phenomenological models suggests differentiation of their pragmatic, social, and personal integrities. Characteristics of metalanguage models, including Internet surfing, trolling, liking, etc., meets the challenges of modeling of speech practice of the Internet, expounds scientific knowledge about peculiarities and regularities of communication and extends the object base of language research.

Energy prices. How energy supply companies can make the jump out of the price trap; Energiepreise. EVU kann der Sprung aus der Preisfalle gelingen

Energy Technology Data Exchange (ETDEWEB)

Weinreich, Uwe; Hoffmann, Christian [SNPC GmbH, Berlin (Germany)

2012-12-15

While differentiated price strategies have long been in use in other branches, energy supply companies are still often caught in the habit of thinking from the power plant end. When one starts one's thinking from the customer and the market it opens the way to better product and price strategies - strategies that deliver added value to both customer and energy supplier. However, energy supply companies must align their product and market strategies accordingly in order for this to be successful. Four levels of price management can be distinguished in developing profitability potentials in the energy economy.

Pengaruh Internet Marketing terhadap Brand dan Kinerja pada Universitas Swasta di Jakarta Barat

Directory of Open Access Journals (Sweden)

Sartika Kurniali

2012-06-01

Full Text Available Several purposes of this research writing are to comprehend marketing activity at a private university in West Jakarta, the relationship between internet marketing with the brand, the relationship between internet marketing and performance of private universities in West Jakarta, and the relationshipbetween the brand and the university's performance in West Jakarta. Data are taken from questionnaires to the management of the private university in West Jakarta and were analyzed using descriptive analysis as well as statistical analysis for non-parametric Spearman correlation. The results revealed that there was no significant relationship between neither internet marketing and brand nor internet marketing and performance. However, the internet marketing sub-variables, which proved to have a significant effect on brand or performance, is communication. Meanwhile, brand has a significant effect on performance. It can be concluded that the internet marketing activities performed by the university’s management does not have a high impact to brand and performance eventhough it has a positive correlation. Therefore, it is necessary to improve the communication component and to make improvement especially on other four components (product, price, community, and distribution which currently have not provided any significant influence.

Addictive use of social networking sites can be explained by the interaction of Internet use expectancies, Internet literacy, and psychopathological symptoms

Science.gov (United States)

Wegmann, Elisa; Stodt, Benjamin; Brand, Matthias

2015-01-01

Background and Aims Most people use the Internet in a functional way to achieve certain goals and needs. However, there is an increasing number of people who experience negative consequences like loss of control and distress based on an excessive use of the Internet and its specific online applications. Some approaches postulate similarities with behavioral addictions as well as substance dependencies. They differentiate between a generalized and a specific Internet addiction, such as the pathological use of social networking sites (SIA–SNS). Prior studies particularly identified the use of applications, personal characteristics, and psychopathological symptoms as significant predictors for the development and maintenance of this phenomenon. So far, it remains unclear how psychopathological symptoms like depression and social anxiety interact with individual expectancies of Internet use and capabilities of handling the Internet, summarized as Internet literacy. Methods The current study (N = 334) investigated the interaction of these components in a structural equation model. Results The results indicate that the effects of depression and social anxiety on SIA–SNS were mediated by Internet use expectancies and self-regulation. Discussion Thus, Internet use expectancies seem to be crucial for SIA–SNS, which is in line with prior models. Conclusions SNS use may be reinforced by experienced gratification and relief from negative feelings. Individual competences in handling the Internet may be preventive for the development of SIA–SNS. PMID:26551905

Addictive use of social networking sites can be explained by the interaction of Internet use expectancies, Internet literacy, and psychopathological symptoms.

Science.gov (United States)

Wegmann, Elisa; Stodt, Benjamin; Brand, Matthias

2015-09-01

Most people use the Internet in a functional way to achieve certain goals and needs. However, there is an increasing number of people who experience negative consequences like loss of control and distress based on an excessive use of the Internet and its specific online applications. Some approaches postulate similarities with behavioral addictions as well as substance dependencies. They differentiate between a generalized and a specific Internet addiction, such as the pathological use of social networking sites (SIA-SNS). Prior studies particularly identified the use of applications, personal characteristics, and psychopathological symptoms as significant predictors for the development and maintenance of this phenomenon. So far, it remains unclear how psychopathological symptoms like depression and social anxiety interact with individual expectancies of Internet use and capabilities of handling the Internet, summarized as Internet literacy. The current study (N = 334) investigated the interaction of these components in a structural equation model. The results indicate that the effects of depression and social anxiety on SIA-SNS were mediated by Internet use expectancies and self-regulation. Thus, Internet use expectancies seem to be crucial for SIA-SNS, which is in line with prior models. SNS use may be reinforced by experienced gratification and relief from negative feelings. Individual competences in handling the Internet may be preventive for the development of SIA-SNS.

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

Gas prices and price process

International Nuclear Information System (INIS)

Groenewegen, G.G.

1992-01-01

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

Policy options for alcohol price regulation: the importance of modelling population heterogeneity.

Science.gov (United States)

Meier, Petra Sylvia; Purshouse, Robin; Brennan, Alan

2010-03-01

Context and aims Internationally, the repertoire of alcohol pricing policies has expanded to include targeted taxation, inflation-linked taxation, taxation based on alcohol-by-volume (ABV), minimum pricing policies (general or targeted), bans of below-cost selling and restricting price-based promotions. Policy makers clearly need to consider how options compare in reducing harms at the population level, but are also required to demonstrate proportionality of their actions, which necessitates a detailed understanding of policy effects on different population subgroups. This paper presents selected findings from a policy appraisal for the UK government and discusses the importance of accounting for population heterogeneity in such analyses. Method We have built a causal, deterministic, epidemiological model which takes account of differential preferences by population subgroups defined by age, gender and level of drinking (moderate, hazardous, harmful). We consider purchasing preferences in terms of the types and volumes of alcoholic beverages, prices paid and the balance between bars, clubs and restaurants as opposed to supermarkets and off-licenses. Results Age, sex and level of drinking fundamentally affect beverage preferences, drinking location, prices paid, price sensitivity and tendency to substitute for other beverage types. Pricing policies vary in their impact on different product types, price points and venues, thus having distinctly different effects on subgroups. Because population subgroups also have substantially different risk profiles for harms, policies are differentially effective in reducing health, crime, work-place absence and unemployment harms. Conclusion Policy appraisals must account for population heterogeneity and complexity if resulting interventions are to be well considered, proportionate, effective and cost-effective.

Coordinated Optimal Operation Method of the Regional Energy Internet

Directory of Open Access Journals (Sweden)

Rishang Long

2017-05-01

Full Text Available The development of the energy internet has become one of the key ways to solve the energy crisis. This paper studies the system architecture, energy flow characteristics and coordinated optimization method of the regional energy internet. Considering the heat-to-electric ratio of a combined cooling, heating and power unit, energy storage life and real-time electricity price, a double-layer optimal scheduling model is proposed, which includes economic and environmental benefit in the upper layer and energy efficiency in the lower layer. A particle swarm optimizer–individual variation ant colony optimization algorithm is used to solve the computational efficiency and accuracy. Through the calculation and simulation of the simulated system, the energy savings, level of environmental protection and economic optimal dispatching scheme are realized.

PROBLEMS OF INFORMAT ION SECURITY: INTERNET OF THINGS

Directory of Open Access Journals (Sweden)

Stanislav A. Shikov

2017-03-01

Full Text Available Introduction: The article deals with the threats to information security in the internetworking of physical devices, also known as Internet of Things (IoT, and the security challenge in terms of home automation systems, ZigBee protocol, Tesla electric cars and Apple Pay mobile payment. Section provides the term definition and history of the Internet of Things. The IEEE 1888 IoT-related standard developed in 2011 as integrated solution based on energy-saving technologies for the Internet of Things. The author considers security challenges for the “smart home” system. Next section reviews the experiments of the author involved in testing of the Internet of Things devices. Materials and Methods: The subjects of study are the Apple Pay, the ZigBee wireless standard, Tesla Model S electric cars. The main methods for identification of security threats are analysis and comparison. Results: The companies of electronic devices simplify and reduce the price of manufacturing process. The customers and users are rarely interested in levels of electronic devices security policies. This is the weakest link of electronic products in terms of security and safety. The tests demonstrated that modern electronic-based technologies do not reach the 100-percentage security level. Apple Pay mobile payment system demonstrated the highest security rating. Discussion and Conclusions: Modern electronic devices for Internet of Things does not meet all safety requirements, from the point of view of the author. The article recommends analyzing the potential threats and developing new security standards. In addition, the logistics of electronic devices for Internet of Things need to be under control from the manufacturer to equipment installation time.

Optimal Pricing Strategies for New Products in Dynamic Oligopolies

OpenAIRE

Engelbert Dockner; Steffen Jørgensen

1988-01-01

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

5 CFR 591.227 - What adjustment factors does OPM add to the price indexes?

Science.gov (United States)

2010-01-01

... CIVIL SERVICE REGULATIONS ALLOWANCES AND DIFFERENTIALS Cost-of-Living Allowance and Post Differential-Nonforeign Areas Cost-Of-Living Allowances § 591.227 What adjustment factors does OPM add to the price...

On the strong solution of a class of partial differential equations that arise in the pricing of mortgage backed securities

KAUST Repository

Parshad, Rana; Bayazit, Derviş; Barlow, Nathaniel S.; Prasad, V. Ramchandra

2011-01-01

We consider a reduced form pricing model for mortgage backed securities, formulated as a non-linear partial differential equation. We prove that the model possesses a weak solution. We then show that under additional regularity assumptions on the initial data, we also have a mild solution. This mild solution is shown to be a strong solution via further regularity arguments. We also numerically solve the reduced model via a Fourier spectral method. Lastly, we compare our numerical solution to real market data. We observe interestingly that the reduced model captures a number of recent market trends in this data, that have escaped previous models.

A multi-center prospective cohort study to evaluate the effect of differential pricing and health systems strengthening on access to medicines and management of hypertension and diabetes in Ghana: A study protocol.

Science.gov (United States)

Mobula, Linda Meta; Sarfo, Stephen; Arthur, Lynda; Burnham, Gilbert; Plange-Rhule, Jacob; Ansong, Daniel; Gavor, Edith; Ofori-Adjei, David

2018-02-07

Background: There is evidence to suggest that the prevalence of non-communicable diseases (NCDs), in particular cardiovascular diseases and diabetes, are being recognized as forming a substantial proportion of the burden of disease among populations in Low- and Middle-Income Countries (LMICs).  Access to treatment is likely a key barrier to the control and prevention of NCD outcomes.  Differential pricing, an approach used to price drugs based on the purchasing power of patients in different socioeconomic segments, has been shown to be beneficial and leads to improved access and affordability. Methods: This is a quasi-experimental study, with a pragmatic trial design, to be conducted over the course of three years. A mixed methods design will be used to evaluate the effects of health systems strengthening and differential pricing on the management of diabetes, hypertension and selected cancers in Ghana. A public private partnership was established between all sites that will receive multi-level interventions, including health systems strengthening  and access to medicines interventions. Study populations and sites: Study participants will include individuals with new or recently diagnosed hypertension and diabetes (n=3,300), who present to two major referral hospitals, Komfo Anokye Teaching Hospital and Tamale Teaching Hospital, as well as three district hospitals, namely Kings Medical Centre, Agogo Presbyterian District Hospital, and Atua Government Hospital. Discussion: The objective of this study aims to test approaches intended to improve access to drugs for the treatment of hypertension and diabetes, and improve disease control. Patients with these conditions will benefit from health systems strengthening interventions (education, counseling, improved management of disease), and increased access to innovative medicines via differential pricing. Pilot programs also will facilitate health system strengthening at the participating institutions, which includes

The sales and marketing practices of English-language internet alcohol vendors.

Science.gov (United States)

Williams, Rebecca S; Schmidt, Allison

2014-03-01

This study aimed to fill information gaps about the sales and marketing practices of internet alcohol vendors and their implications for addressing youth access and other legal violations. Further, it aimed to expand the limited scientific literature on internet alcohol sales using systematic survey methods to inform future efforts to regulate this industry and prevent sales to minors. The design was a cross-sectional website content analysis survey. [Not applicable]. A total of 105 internet alcohol vendor websites. Six key content analysis topics were explored: products offered, average prices and proportions of vendors using different promotions, policy statements and methods for age verification, payment and delivery. Websites sell and promote a variety of alcohol products, offered as cheaply as $1.93 for a 750-ml bottle. Vendors rely heavily upon age verification methods that are unlikely to prevent sales to minors. Many vendors advertise shipping of products via methods through which it is illegal or against delivery company policies to transport alcohol, and 99% of vendors accept credit cards. Limiting and enforcing delivery and payment options are types of policy interventions that have been used successfully with internet cigarette vendors that may be applicable to internet alcohol vendors as well. Internet alcohol vendor practices are insufficient to prevent sales to minors, and need further regulation and enforcement of existing policies. Their sales practices are similar to those of internet cigarette vendors prior to regulation, and similar regulatory approaches may be effective in reducing internet alcohol sales to minors. © 2013 Society for the Study of Addiction.

Photovoltaic power: the inadequate purchase price

International Nuclear Information System (INIS)

Finon, D.

2009-01-01

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

Adaptive hidden Markov model with anomaly States for price manipulation detection.

Science.gov (United States)

Cao, Yi; Li, Yuhua; Coleman, Sonya; Belatreche, Ammar; McGinnity, Thomas Martin

2015-02-01

Price manipulation refers to the activities of those traders who use carefully designed trading behaviors to manually push up or down the underlying equity prices for making profits. With increasing volumes and frequency of trading, price manipulation can be extremely damaging to the proper functioning and integrity of capital markets. The existing literature focuses on either empirical studies of market abuse cases or analysis of particular manipulation types based on certain assumptions. Effective approaches for analyzing and detecting price manipulation in real time are yet to be developed. This paper proposes a novel approach, called adaptive hidden Markov model with anomaly states (AHMMAS) for modeling and detecting price manipulation activities. Together with wavelet transformations and gradients as the feature extraction methods, the AHMMAS model caters to price manipulation detection and basic manipulation type recognition. The evaluation experiments conducted on seven stock tick data from NASDAQ and the London Stock Exchange and 10 simulated stock prices by stochastic differential equation show that the proposed AHMMAS model can effectively detect price manipulation patterns and outperforms the selected benchmark models.

Relating price strategies and price-setting practices

NARCIS (Netherlands)

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

2013-01-01

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

Application of Impulse Control in Smart Grid Price System

Directory of Open Access Journals (Sweden)

Peng Du

2013-07-01

Full Text Available With the development of smart grid, flexible and interactive electricity market will finally emerge. Making full use of price can encourage consumers to use electricity during a low load period and reduce peak load, thus to guarantee electricity market stability. Impulse control is applied to price system in this paper. It is found that giving impulse control to price system can make the system reach stable state well, which is based on the theory of impulsive differential system. The sufficient condition for stable system and the max upper bound of impulse interval are also provided. The proposed method is proved to be feasible and effective by theoretically analysis and numerical simulation.

Fast Fourier Transform Pricing Method for Exponential Lévy Processes

KAUST Repository

Crocce, Fabian; Happola, Juho; Kiessling, Jonas; Tempone, Raul

2014-01-01

We describe a set of partial-integro-differential equations (PIDE) whose solutions represent the prices of european options when the underlying asset is driven by an exponential L´evy process. Exploiting the L´evy -Khintchine formula, we give a Fourier based method for solving this class of PIDEs. We present a novel L1 error bound for solving a range of PIDEs in asset pricing and use this bound to set parameters for numerical methods.

Fast Fourier Transform Pricing Method for Exponential Lévy Processes

KAUST Repository

Crocce, Fabian

2014-05-04

We describe a set of partial-integro-differential equations (PIDE) whose solutions represent the prices of european options when the underlying asset is driven by an exponential L´evy process. Exploiting the L´evy -Khintchine formula, we give a Fourier based method for solving this class of PIDEs. We present a novel L1 error bound for solving a range of PIDEs in asset pricing and use this bound to set parameters for numerical methods.

Price discrimination in obstetric services--a case study in Bangladesh.

Science.gov (United States)

Amin, Mohammad; Hanson, Kara; Mills, Anne

2004-06-01

This article examines the existence of price discrimination for obstetric services in two private hospitals in Bangladesh, and considers the welfare consequences of such discrimination, i.e. whether or not price discrimination benefited the poorer users. Data on 1212 normal and caesarean section patients discharged from the two hospitals were obtained. Obstetric services were chosen because they are relatively standardised and the patient population is relatively homogeneous, so minimising the scope and scale of product differentiation due to procedure and case-mix differences. The differences between the hospital list price for delivery and actual prices paid by patients were calculated to determine the average rate of discount. The welfare consequences of price discrimination were assessed by testing the differences in mean prices paid by patients from three income groups: low, middle and high. The results suggest that two different forms of price discrimination for obstetric services occurred in both these hospitals. First, there was price discrimination according to income, with the poorer users benefiting from a higher discount rate than richer ones; and second, there was price discrimination according to social status, with three high status occupational groups (doctors, senior government officials, and large businessmen) having the highest probability of receiving some level of discount. Copyright 2003 John Wiley & Sons, Ltd.

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

Dynamic Pricing of New Products in Competitive Markets: A Mean-Field Game Approach

OpenAIRE

Chenavaz, Régis; Paraschiv, Corina; Turinici, Gabriel

2017-01-01

Dynamic pricing of new products has been extensively studied in monopolistic and oligopolistic markets. But, the optimal control and differential game tools used to investigate the pricing behavior on markets with a finite number of firms are not well-suited to model competitive markets with an infinity of firms. Using a mean-field games approach, this paper examines dynamic pricing policies in competitive markets, where no firm exerts market power. The theoretical setting is based on a diffu...

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

Science.gov (United States)

2010-01-01

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

Studying The Effect Of Brands And Internet WOM Advertisement On Customer Purchase

Directory of Open Access Journals (Sweden)

Ali Sedighimanesh

2017-07-01

Full Text Available Objectives e-commerce can be represented as any online trade and commerce via the Internet. MethodsAnalysis It should be noted that online purchase is not based on the actual experience of purchasing goods but is based on aspects such as image the qualitative information and publicizing of the product. Customers should be searched on the Internet randomly to evaluate the product and also reduce the risk of buying. So customers obtain product information before making a purchase and then perform the evaluation and diagnosis of products Findings The survey was conducted according to studying the model using a questionnaire which collected data analysis has been made in SPSS software. Improvements The results of this study show that the brand image and internet word of mouth advertisement and moderating variables price reductions customer trust mode and has a tremendous impact on customer purchase intention.

Relative thinking in consumer choice between differentiated goods and services and its implications for business strategy

Directory of Open Access Journals (Sweden)

Ofer H. Azar

2011-02-01

Full Text Available The article shows that when people consider differentiated goods or services that differ in price and quality, they exhibit a decision-making bias of ``relative thinking'': relative price differences affect them even when economic theory suggests that only absolute price differences matter. This result is obtained in four different consumption categories. Sometimes subjects are affected only by relative price differences (``full relative thinking'' and sometimes also by absolute price differences (``partial relative thinking''. This behavior has implications for various disciplines, and it is particularly relevant in models dealing with horizontal or vertical differentiation, optimal pricing, competitive strategy, or advertising.

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

OpenAIRE

Michael D. Noel

2007-01-01

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

An Energy Integrated Dispatching Strategy of Multi- energy Based on Energy Internet

Science.gov (United States)

Jin, Weixia; Han, Jun

2018-01-01

Energy internet is a new way of energy use. Energy internet achieves energy efficiency and low cost by scheduling a variety of different forms of energy. Particle Swarm Optimization (PSO) is an advanced algorithm with few parameters, high computational precision and fast convergence speed. By improving the parameters ω, c1 and c2, PSO can improve the convergence speed and calculation accuracy. The objective of optimizing model is lowest cost of fuel, which can meet the load of electricity, heat and cold after all the renewable energy is received. Due to the different energy structure and price in different regions, the optimization strategy needs to be determined according to the algorithm and model.

Competitive Pricing by a Price Leader

OpenAIRE

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

1994-01-01

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

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.

The Effects of Price Discrimination on the Elasticity of Demand for Higher Education.

Science.gov (United States)

Weinberg, Ira

The purpose of this study was to determine what effect price discrimination (differential pricing) would have on institutional gross-fee income. Enrollment and tuition data were gathered from all schools in one particular market area for the years 1969-72. In this situation it was determined that overall demand for higher education was highly…

Can Competition Keep the Restrooms Clean? Price, Quality and Spatial Competition

OpenAIRE

Pennerstorfer, Dieter

2017-01-01

This article investigates the influence of competition on price and product quality among Austrian camping sites, a market characterized by both horizontal (spatial) and vertical product differentiation. Theoretically, the effect of competition on quality is ambiguous and depends on the degree of cost substitutability between output and quality. Estimating a system of equations shows that intense competition has a positive impact on product quality and a negative effect on prices (conditional...

Eco-Labeling and Retailer Pricing Strategies: The U.K. Haddock Market

OpenAIRE

Dengjun Zhang; Geir Sogn-Grundvåg; Frank Asche; James A. Young

2018-01-01

In attempts to differentiate their store imagery, grocery retailers frequently introduce new products, which are often rich in extrinsic attributes such as claims regarding healthiness and environmental sustainability. This paper explores retailers’ pricing strategies for product attributes of haddock in the United Kingdom. The results show that retailers’ pricing strategies vary, in particular for extrinsic product attributes such as eco-labels and country-of-origin. The high pri...

Internet addiction: Coping Styles, Expectancies, and Treatment Implications

Directory of Open Access Journals (Sweden)

Matthias eBrand

2014-11-01

Full Text Available Internet addiction has become a serious mental health condition in many countries. To better understand the clinical implications of Internet addiction, this study tested statistically a new theoretical model illustrating underlying cognitive mechanisms contributing to development and maintenance of the disorder. The model differentiates between a generalized Internet addiction (GIA and specific forms. This study tested the model on GIA on a population of general Internet users. The findings from 1019 users showed that the hypothesized structural equation model explained 63.5% of the variance of GIA symptoms, as measured by the short version of the Internet Addiction Test (s-IAT. Using psychological and personality testing, the results show that a person’s specific cognitions (poor coping and cognitive expectations increased the risk for generalized Internet addiction. These two factors mediated the symptoms of GIA if other risk factors were present such as depression, social anxiety, low self-esteem, low self-efficacy, and high stress vulnerability to name a few areas that were measured in the study. The model shows that individuals with high coping skills and no expectancies that the Internet can be used to increase positive or reduce negative mood are less likely to engage in problematic Internet use, even when other personality or psychological vulnerabilities are present. The implications for treatment include a clear cognitive component to the development of generalized Internet addiction and the need to assess a patient’s coping style and cognitions and improve faulty thinking to reduce symptoms and engage in recovery.

Internet Auction Sellers: Does Size Really Matter?

Science.gov (United States)

Halstead, Diane; Becherer, Richard C.

2003-01-01

Examines the Internet auction phenomenon as it relates to the marketing mix of online auction sellers. The data indicate that, while there is great diversity among businesses that utilize online auctions, distinct cost leadership and differentiation marketing strategies are both evident. These two approaches are further distinguished in terms of…

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...

Internet Addiction and Antisocial Internet Behavior of Adolescents

Directory of Open Access Journals (Sweden)

Hing Keung Ma

2011-01-01

Full Text Available Internet addiction and the moral implication of antisocial Internet behavior will be investigated in this paper. More and more people use the Internet in their daily life. Unfortunately the percentage of people who use the internet excessively also increases. The concept of Internet addiction or pathological use of Internet is discussed in detail, and the characteristics of Internet addicts are also delineated. The social (especially the antisocial use of Internet is discussed. It is argued that the behavior of Internet use is similar to daily life social behavior. In other words, Internet behavior is a kind of social behavior. Kohlberg's theory of moral development is employed to delineate the moral reasoning of the antisocial Internet behavior. The following behaviors are regarded as antisocial Internet behavior: (1 the use of Internet to carry out illegal activities such as selling faked products or offensive pornographic materials, (2 the use of Internet to bully others (i.e., cyberbullying such as distributing libelous statements against a certain person, (3 the use of Internet to cheat others, and (4 the use of Internet to do illegal gambling. The characteristics of the moral stages that are associated with these antisocial Internet behaviors are investigated in detail.

Internet Addiction and Antisocial Internet Behavior of Adolescents

Science.gov (United States)

Ma, Hing Keung

2011-01-01

Internet addiction and the moral implication of antisocial Internet behavior will be investigated in this paper. More and more people use the Internet in their daily life. Unfortunately the percentage of people who use the internet excessively also increases. The concept of Internet addiction or pathological use of Internet is discussed in detail, and the characteristics of Internet addicts are also delineated. The social (especially the antisocial) use of Internet is discussed. It is argued that the behavior of Internet use is similar to daily life social behavior. In other words, Internet behavior is a kind of social behavior. Kohlberg's theory of moral development is employed to delineate the moral reasoning of the antisocial Internet behavior. The following behaviors are regarded as antisocial Internet behavior: (1) the use of Internet to carry out illegal activities such as selling faked products or offensive pornographic materials, (2) the use of Internet to bully others (i.e., cyberbullying) such as distributing libelous statements against a certain person, (3) the use of Internet to cheat others, and (4) the use of Internet to do illegal gambling. The characteristics of the moral stages that are associated with these antisocial Internet behaviors are investigated in detail. PMID:22125466

Corporate Leverage and Product Differentiation Strategy

OpenAIRE

Arping, Stefan; Lóránth, Gyöngyi

2002-01-01

This article develops a model of the interplay between corporate leverage and product differentiation strategy. Leverage improves managerial discipline, but it can also raise customer concerns about a vendor's long-term viability. We argue that customer concerns about firm viability will be particularly pronounced when products are highly differentiated from competitors' products. In this context, optimal product differentiation strategies solve a trade-off between softening price competition...

Internet addiction or excessive internet use.

Science.gov (United States)

Weinstein, Aviv; Lejoyeux, Michel

2010-09-01

Problematic Internet addiction or excessive Internet use is characterized by excessive or poorly controlled preoccupations, urges, or behaviors regarding computer use and Internet access that lead to impairment or distress. Currently, there is no recognition of internet addiction within the spectrum of addictive disorders and, therefore, no corresponding diagnosis. It has, however, been proposed for inclusion in the next version of the Diagnostic and Statistical Manual of Mental Disorder (DSM). To review the literature on Internet addiction over the topics of diagnosis, phenomenology, epidemiology, and treatment. Review of published literature between 2000-2009 in Medline and PubMed using the term "internet addiction. Surveys in the United States and Europe have indicated prevalence rate between 1.5% and 8.2%, although the diagnostic criteria and assessment questionnaires used for diagnosis vary between countries. Cross-sectional studies on samples of patients report high comorbidity of Internet addiction with psychiatric disorders, especially affective disorders (including depression), anxiety disorders (generalized anxiety disorder, social anxiety disorder), and attention deficit hyperactivity disorder (ADHD). Several factors are predictive of problematic Internet use, including personality traits, parenting and familial factors, alcohol use, and social anxiety. Although Internet-addicted individuals have difficulty suppressing their excessive online behaviors in real life, little is known about the patho-physiological and cognitive mechanisms responsible for Internet addiction. Due to the lack of methodologically adequate research, it is currently impossible to recommend any evidence-based treatment of Internet addiction.

Long-Range Correlations and Memory in the Dynamics of Internet Interdomain Routing.

Directory of Open Access Journals (Sweden)

Maksim Kitsak

Full Text Available Data transfer is one of the main functions of the Internet. The Internet consists of a large number of interconnected subnetworks or domains, known as Autonomous Systems (ASes. Due to privacy and other reasons the information about what route to use to reach devices within other ASes is not readily available to any given AS. The Border Gateway Protocol (BGP is responsible for discovering and distributing this reachability information to all ASes. Since the topology of the Internet is highly dynamic, all ASes constantly exchange and update this reachability information in small chunks, known as routing control packets or BGP updates. In the view of the quick growth of the Internet there are significant concerns with the scalability of the BGP updates and the efficiency of the BGP routing in general. Motivated by these issues we conduct a systematic time series analysis of BGP update rates. We find that BGP update time series are extremely volatile, exhibit long-term correlations and memory effects, similar to seismic time series, or temperature and stock market price fluctuations. The presented statistical characterization of BGP update dynamics could serve as a basis for validation of existing and developing better models of Internet interdomain routing.

Arbitrage Pricing, Capital Asset Pricing, and Agricultural Assets

OpenAIRE

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

1988-01-01

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

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

Directory of Open Access Journals (Sweden)

David Bouras

2017-07-01

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

Internet Addiction and Antisocial Internet Behavior of Adolescents

OpenAIRE

Ma, Hing Keung

2011-01-01

Internet addiction and the moral implication of antisocial Internet behavior will be investigated in this paper. More and more people use the Internet in their daily life. Unfortunately the percentage of people who use the internet excessively also increases. The concept of Internet addiction or pathological use of Internet is discussed in detail, and the characteristics of Internet addicts are also delineated. The social (especially the antisocial) use of Internet is discussed. It is argued ...

Analytical pricing of geometric Asian power options on an underlying driven by a mixed fractional Brownian motion

Science.gov (United States)

Zhang, Wei-Guo; Li, Zhe; Liu, Yong-Jun

2018-01-01

In this paper, we study the pricing problem of the continuously monitored fixed and floating strike geometric Asian power options in a mixed fractional Brownian motion environment. First, we derive both closed-form solutions and mixed fractional partial differential equations for fixed and floating strike geometric Asian power options based on delta-hedging strategy and partial differential equation method. Second, we present the lower and upper bounds of the prices of fixed and floating strike geometric Asian power options under the assumption that both risk-free interest rate and volatility are interval numbers. Finally, numerical studies are performed to illustrate the performance of our proposed pricing model.

Inflation in a Fully-Euroised Economy: Could Inflation Differentials Threaten Competitiveness?

Directory of Open Access Journals (Sweden)

Mitrović-Mijatović Marijana

2017-05-01

Full Text Available This paper analyses inflation in Montenegro, a country which uses euro outside the euro area, and investigates the factors which contribute to price differentials in Montenegro relative to the euro area. Furthermore, the paper examines whether changes in the real effective exchange rates, which in Montenegro’s case follow the path of price differentials, may have any influence on country’s competitiveness.

A mathematical model for stock price forecasting | Ogwuche | West ...

African Journals Online (AJOL)

) and the covariance (the volatility) of the change were computed leading to the formulation of the system of linear stochastic differential equations. To fit data to the model, changes in the prices of the stocks were studied for an average of 30 ...

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

Science.gov (United States)

2010-01-01

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

Price comparison of high-cost originator medicines in European countries.

Science.gov (United States)

Vogler, Sabine; Zimmermann, Nina; Babar, Zaheer-Ud-Din

2017-04-01

In recent years, high-cost medicines have increasingly been challenging the public health budget in all countries including high-income economies. In this context, this study aims to survey, analyze and compare prices of medicines that likely contribute to high expenditure for the public payers in high-income countries. We chose the following 16 European countries: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, the Netherlands, Portugal, Sweden, Slovakia, Spain and United Kingdom. The ex-factory price data of 30 medicines in these countries were collected in national databases accessible through the Pharmaceutical Price Information (PPI) service of Gesundheit Österreich GmbH (Austrian Public Health Institute). The ex-factory prices (median) per unit (e.g. per tablet, vial) ranged from 10.67 cent (levodopa + decarboxylase inhibitor) to 17,000 euro (ipilimumab). A total of 53% of the medicines surveyed had a unit ex-factory price (median) above 200 Euro. For two thirds of the medicines, price differences between the highest-priced country and lowest-priced country ranged between 25 and 100%; the remaining medicines, mainly low-priced medicines, had higher price differential, up to 251%. Medicines with unit prices of a few euros or less were medicines for the treatment of diseases in the nervous system (anti-depressants, medicines to treat Parkinson and for the management of neuropathic pain), of obstructive airway diseases and cardio-vascular medicines (lipid modifying agents). High-priced medicines were particularly cancer medicines. Medicine prices of Greece, Hungary, Slovakia and UK were frequently at the lower end, German and Swedish, as well as Danish and Irish prices at the upper end. For high-priced medicines, actual paid prices are likely to be lower due to confidential discounts and similar funding arrangements between industry and public payers. Pricing authorities refer to the higher undiscounted prices when they use

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

Directory of Open Access Journals (Sweden)

Travis C. Tai

2017-11-01

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

Bipolar spectrum disorders in a clinical sample of patients with Internet addiction: hidden comorbidity or differential diagnosis?

Science.gov (United States)

Wölfling, Klaus; Beutel, Manfred E; Dreier, Michael; Müller, Kai W

2015-06-01

Behavioral addictions and bipolar disorders have a certain probability of co-occurrence. While the presence of a manic episode has been defined as an exclusion criterion for gambling disorder, no such exclusion has been formulated for Internet addiction. A clinical sample of 368 treatment seekers presenting with excessive to addictive Internet use was screened for bipolar spectrum disorders using the Mood Disorder Questionnaire. Psychopathology was assessed by the Symptom Checklist 90R and a clinical interview was administered to screen for comorbid disorders. Comorbid bipolar disorders were more frequent in patients meeting criteria for Internet addiction (30.9%) than among the excessive users (5.6%). This subgroup showed heightened psychopathological symptoms, including substance use disorders, affective disorders and personality disorders. Further differences were found regarding frequency of Internet use regarding social networking sites and online-pornography. Patients with Internet addiction have a heightened probability for meeting criteria of bipolar disorders. It is not possible to draw conclusions regarding the direction of this association but it is recommended to implement screening for bipolar disorders in patients presenting with Internet addiction. Similar to gambling disorder, it might prove necessary to subsume bipolar disorders as an exclusion criterion for the future criteria of Internet addiction.

Bipolar Spectrum Disorders in a Clinical Sample of Patients with Internet Addiction: Hidden Comorbidity or Differential Diagnosis?

Science.gov (United States)

Wölfling, Klaus; Beutel, Manfred E.; Dreier, Michael; Müller, Kai W.

2015-01-01

Background and Aims Behavioral addictions and bipolar disorders have a certain probability of co-occurrence. While the presence of a manic episode has been defined as an exclusion criterion for gambling disorder, no such exclusion has been formulated for Internet addiction. Methods A clinical sample of 368 treatment seekers presenting with excessive to addictive Internet use was screened for bipolar spectrum disorders using the Mood Disorder Questionnaire. Psychopathology was assessed by the Symptom Checklist 90R and a clinical interview was administered to screen for comorbid disorders. Results Comorbid bipolar disorders were more frequent in patients meeting criteria for Internet addiction (30.9%) than among the excessive users (5.6%). This subgroup showed heightened psychopathological symptoms, including substance use disorders, affective disorders and personality disorders. Further differences were found regarding frequency of Internet use regarding social networking sites and online-pornography. Discussion Patients with Internet addiction have a heightened probability for meeting criteria of bipolar disorders. It is not possible to draw conclusions regarding the direction of this association but it is recommended to implement screening for bipolar disorders in patients presenting with Internet addiction. Conclusion Similar to gambling disorder, it might prove necessary to subsume bipolar disorders as an exclusion criterion for the future criteria of Internet addiction. PMID:26132914

TRANSFER PRICES AND MARKET VALUE OF REINSURANCE TRANSACTIONS

Directory of Open Access Journals (Sweden)

Andreea - Lavinia CAZACU (NEAMȚU

2017-12-01

Full Text Available As a result of the increasingly sustainable economic and financial crisis, which is characterized by the diminishing of the sums due to the state budget, the interest of more and more countries, including Romania, for the legalization and control over the transfer prices increases. Transfer pricing is an activity involving the execution of client related actions for a specific financial product through multiple intermediaries and / or tax jurisdictions. These transfer prices are used in different industries and, in the last period, have been used, in particular, by reinsurance companies as a result of difficult economic conditions and increasing competitiveness. Under these circumstances, insurers need to be aware that they will carry out tax inspections whose role is to verify using the market value principle, the compliance of their prices with the affiliated reinsurers in order to avoid misuse of those prices, by exaggerating costs and artificially reducing potential profits. This study emphasizes that reinsurance contracts made by affiliated companies are not the issue, but the way in which transactions are carried out that do not accurately reflect the risks transferred, their costs and the respect of the market value principle. If they are not carefully controlled, these reinsurance companies have every reason to use transfer pricing to move the profit between tax jurisdictions with differentiated rates of taxation, thus minimizing total corporate tax.

Differentiated Duopoly Revisited

OpenAIRE

Onozaki, Tamotsu

2012-01-01

The present paper explores what happens in the analytical results of a duopoly model with product differentiation when heterogeneity of production cost is introduced. It is shown that there is a possibility that the price strategy is dominant over the quantity strategy even if goods are substitutes.

Some reflections upon Internet TV in the Brazilian context

Science.gov (United States)

de Lima-Lopes, Rodrigo

2016-10-01

Negroponte [1996. Being digital (1st ed.). New York, NY: Vintage Books] discusses the migration television might take from its air-based broadcasting to the digital environment. This paper takes into consideration the exercise in futurology made by Negroponte [1996. Being digital (1st ed.). New York, NY: Vintage Books] as an inspiration to discuss which Internet TV models are currently adopted in Brazil. They are studied in terms of the platforms used and the nature of the channels available. Results show that a number of devices can be used for Internet TV; some channels are redundant, since they are present in more than one context. There are a number of foreign (broadcasting in their own language) and Brazilian channels that seem to be exclusive in each device. Due to the price of some devices, as well as some issues regarding connectivity in Brazil, some platforms seem to lack local production.

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

Price strategy and pricing strategy: terms and content identification

OpenAIRE

Panasenko Tetyana

2015-01-01

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

TAX OPTIMIZATION THROUGH TRANSFER PRICING, COMMON AND MANIPULATIVE PRACTICE

Directory of Open Access Journals (Sweden)

Jurcau Anca Sabina

2009-05-01

Full Text Available This paper is about how multinational enterprises choose transfer prices in the presence of differential corporate income tax rates. A transfer prince is a value placed on the goods which are traded between divisions of an organization. We review and exte

Value based pricing: the least valued pricing strategy

OpenAIRE

Hoenen, Bob

2017-01-01

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

48 CFR 36.207 - Pricing fixed-price construction contracts.

Science.gov (United States)

2010-10-01

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

Price strategy and pricing strategy: terms and content identification

Directory of Open Access Journals (Sweden)

Panasenko Tetyana

2015-11-01

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

The integration of Price Responsive Demand into Regional Transmission Organization (RTO) wholesale power markets and system operations

International Nuclear Information System (INIS)

Centolella, Paul

2010-01-01

A number of states and utilities are pursuing demand response based on dynamic and time-differentiated retail prices and utility investments in Advanced Metering Infrastructure (AMI), often as part of Smart Grid initiatives. These developments could produce large amounts of Price Responsive Demand, demand that predictably responds to changes in wholesale prices. Price Responsive Demand could provide significant reliability and economic benefits. However, existing RTO tariffs present potential barriers to the development of Price Responsive Demand. Effectively integrating Price Responsive Demand into RTO markets and operations will require changes in demand forecasting, scarcity pricing reform, synchronization of scarcity pricing with capacity markets, tracking voluntary hedging by price responsive loads, and a non-discriminatory approach in curtailments in capacity emergencies. The article describes changes in RTO policies and systems needed incorporate Price Responsive Demand. (author)

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

Science.gov (United States)

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

2013-10-01

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

Setor de agências de internet no Brasil: análise de concorrência a partir de simulação dinâmica de sistemas Internet agencies industry in Brazil: competition analysis using system dynamics

Directory of Open Access Journals (Sweden)

Antony José Souza Martins

2008-04-01

Full Text Available Este artigo tem por objetivo analisar a participação de mercado dos diferentes grupos estratégicos que compõem o setor de agências de internet no Brasil, bem como as mudanças decorrentes de alterações nas variáveis críticas de concorrência, tais como preço, investimento em propaganda, investimento em tecnologia e disponibilidade de mão-de-obra. Para tanto, será aplicado o método de simulação computacional, utilizando-se dinâmica de sistemas. A adoção desta técnica permitiu identificar padrões contra-intuitivos, o que se revelou acertado, principalmente no que concerne às análises sobre mudanças no grau de diferenciação entre os diferentes grupos estratégicos analisados.This paper aims to analyze the dynamics of market share of different strategic groups that are part of the internet agencies industry in Brazil as well as the changes due to modifications in its critical variables such as price, advertising and technology investment, and the availability of qualified human resources. For that reason the method of computer simulation, using system dynamics, was adopted. The adoption of this technique allowed identifying non-trivial patterns, especially the ones related to the analyses of the changes in the degree of differentiation between the different strategic groups.

Logistics: Price Rises Incurred by High Oil Price

Institute of Scientific and Technical Information of China (English)

Lai Zhihui

2011-01-01

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

Stuck in a Price War?

DEFF Research Database (Denmark)

Poulsen, Søren Bolvig; Knutzen, Rikke; Christiansen, Lotte

2010-01-01

the more competitive you are. This is a natural business factor and the case for many industries. This situation, however, has proven to retain companies marked positions as the larger companies have the advantages of purchasing with remarkable discounts due to the considerable amount of products, which......The objective of this article is to illustrate how a service can develop into an important differentiator as strategic and competitive element for medium-sized companies in B2B relations. Within the building material sector the main competition is on price – the cheaper you can provide a product...... are bought. As a result larger suppliers can again sell the same products to a lower price at the marked for their customers leaving their small and medium sized competitors in a problematic situation. The branch is in general hampered by conservatism, but one way out of the sticky situation for a medium...

Is response to price equal for those with higher alcohol consumption?

Science.gov (United States)

Byrnes, Joshua; Shakeshaft, Anthony; Petrie, Dennis; Doran, Christopher M

2016-01-01

To determine if taxation policies that increase the price of alcohol differentially reduce alcohol consumption for heavy drinkers in Australia. A two-part demand model for alcohol consumption is used to determine the price elasticity of alcohol. Quantile regression is used to determine the price elasticity estimates for various levels of consumption. The study uses Australian data collected by the National Drug Strategy Household Survey for the years 2001, 2004 and 2007. Measures of individual annual alcohol consumption were derived from three waves of the National Drug Strategy Household Survey; alcohol prices were taken from market research reports. For the overall population of drinkers, a 1% increase in the price of alcohol was associated with a 0.96% (95% CI -0.35%, -1.57%) reduction in alcohol consumption. For those in the highest 10% of drinkers by average amount consumed, a 1% increase in the price of alcohol was associated with a 1.26% (95% CI 0.82%, 1.70%) reduction in consumption. Within Australia, policies that increase the price of alcohol are about equally effective in relative terms for reducing alcohol consumption both for the general population and among those who drink heavily.

Enhancing medicine price transparency through price information mechanisms.

Science.gov (United States)

Hinsch, Michael; Kaddar, Miloud; Schmitt, Sarah

2014-05-08

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

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...

Gas Station Pricing Game: A Lesson in Engineering Economics and Business Strategies.

Science.gov (United States)

Sin, Aaron; Center, Alfred M.

2002-01-01

Describes an educational game designed for engineering majors that demonstrates engineering economics and business strategies, specifically the concepts of customer perception of product value, convenience, and price differentiation. (YDS)

Product pricing in TAC SCM using adaptive real-time probability of acceptance estimations based on economic regimes

NARCIS (Netherlands)

Hogenboom, A.C.; Ketter, W.; Dalen, van Jan; Kaymak, U.; Collins, J.; Gupta, Alok

2009-01-01

Dynamic product pricing is a vital, yet non-trivial task in complex supply chains -- especially in case of limited visibility of the market environment. We propose to differentiate product pricing strategies using economic regimes. In our approach, we use economic regimes (characterizing market

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.

Differentiated Brand Marketing Strategy for China’s Conventional Aquatic Products

Institute of Scientific and Technical Information of China (English)

Hua; LIANG; Zhongming; SHEN

2015-01-01

The volume of production and marketing of China’s conventional aquatic products is increasing. Compared with price of livestock and poultry products,price of conventional aquatic products is relatively low. Differentiated brand marketing for China’s conventional aquatic products is a key approach for increasing market demand for conventional aquatic products and increasing value of conventional aquatic products. The differentiated brand marketing is an inevitable trend of market development and also a powerful arm for market competition. China’s conventional aquatic products can take differentiated brand marketing strategies such as brand orientation,brand concept,brand culture,and place name brand,to better keep market competitive edge and increase economic benefits.

ACCOUNTING ASPECTS OF PRICING AND TRANSFER PRICING

Directory of Open Access Journals (Sweden)

TÜNDE VERES

2011-01-01

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

Orchestrating utility supply and demand in real-time via the Internet, home networks, and smart appliances

Energy Technology Data Exchange (ETDEWEB)

Cruickshank, R.F. III [Power Networks, Big Indian, NY (United States)

2008-07-01

This paper presented a model to illustrate the efficient coordination between the supply-side and demand-side of household electricity use and the magnitude of demand that can be managed using real-time pricing. In real-time supply and demand side management, a variable price for service is sent via Internet from the supply-side to the demand-side. The 3 benefits to this type of demand-side management are that traditional fossil-fuelled electrical capacity can operate less of the time and more efficiently; renewable electrical capacity such as wind and solar power can be put to use more efficiently when it becomes available; and additional means are available to protect the transmission and distribution infrastructure of the utility. A critical requirement is that pricing should change frequently throughout the day so that budget conscious consumers do not have to wait too long for favourable pricing to use their appliances. 12 refs., 9 figs.

Price Discovery from Cross-Currency and FX Swaps: A Structural Analysis

OpenAIRE

Yasuaki Amatatsu; Naohiko Baba

2007-01-01

This paper investigates the relative role of price discovery between two long-term swap contracts that exchange between the U.S. dollar and the Japanese yen: cross-currency basis swap and FX (foreign exchange) swap. First, we show that these two swaps should be in a no-arbitrage relationship by allowing for differential risk premiums. Second, we empirically investigate the relative role of price discovery using the structural-form approach based on the state space models. Main finding are as ...

PERBANDINGAN TINGKAT DAN RUANG LINGKUP PENGUNGKAPAN PELAPORAN KEUANGAN BASIS INTERNET TERHADAP HARGA SAHAM

Directory of Open Access Journals (Sweden)

Emrinaldi Nur DP

2017-03-01

Full Text Available Applications of Internet financial reporting (IFR by companies have reduced the asymmetry of informationand facilitate investor access to corporate information. IFR application is considered a good news that allegedlyable to influence the market by watching the stock price, the value of stocks and abnormal stock returns.The purpose of this study was to observe the practice of IFR influence on stock prices by making comparisonsagainst companies that do not apply to IFR and comparison of the company with defferent degree and scope ofdisclosure. The study was conducted on the companies included in the index compass 100 and tested usingevent study approach and independent sample t-test between two groups of samples. Results of tests performedshowed no difference between the market reaction to the company and which do not apply IFR. There is also adifference in price saha and stock value for the company with the different degree and scope of IFR disclosure,while the abnormal returnnya got no support.

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

International Nuclear Information System (INIS)

Radchenko, S.

2005-01-01

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

Eco-Labeling and Retailer Pricing Strategies: The U.K. Haddock Market

Directory of Open Access Journals (Sweden)

Dengjun Zhang

2018-05-01

Full Text Available In attempts to differentiate their store imagery, grocery retailers frequently introduce new products, which are often rich in extrinsic attributes such as claims regarding healthiness and environmental sustainability. This paper explores retailers’ pricing strategies for product attributes of haddock in the United Kingdom. The results show that retailers’ pricing strategies vary, in particular for extrinsic product attributes such as eco-labels and country-of-origin. The high price premium generated from the most advocated eco-labels and an emphasis upon promotion strategies appear to play a role in the success of high-end retailers, and may have implications for any heightened competitive responses by larger retail chains in the future.

IS THE PRICE RIGHT? PRICING FOR LONG TERM PROFITABILITY

Directory of Open Access Journals (Sweden)

Andrea Erika NYÁRÁDI

2007-01-01

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

Investigating the Effect of Personality, Internet Literacy, and Use Expectancies in Internet-Use Disorder: A Comparative Study between China and Germany.

Science.gov (United States)

Stodt, Benjamin; Brand, Matthias; Sindermann, Cornelia; Wegmann, Elisa; Li, Mei; Zhou, Min; Sha, Peng; Montag, Christian

2018-03-23

Research on Internet-use Disorder (IUD) has increased rapidly, indicating its clinical and global importance. Past studies suggested cultural diversity regarding the prevalence of an IUD, e.g., between Asian and European countries. Additionally, it was found that personality factors, Internet-related cognitions and specific competences seem to influence IUD tendencies, but research lacks in cultural comparative studies regarding these mechanisms. This study focuses on differences between Germany and China regarding the above-mentioned characteristics. German ( n = 411; M = 20.70 years, SD = 3.34 years) and Chinese participants ( n = 410; M = 20.72 years, SD = 2.65 years) answered the short Internet Addiction Test, Big Five Inventories, the Internet-use Expectancies Scale, as well as the Internet Literacy Questionnaire. The results revealed higher occurrence of IUD symptoms in China. Furthermore, Chinese participants scored significantly higher on neuroticism and agreeableness, whereas German participants scored higher on extraversion and openness. Compared to German participants, Chinese showed higher expectancies to avoid negative feelings online and to be positively reinforced. Regarding Internet literacy, German participants indicated higher skills concerning the reflection and critical analysis of online content, whereas Chinese showed higher expertise in producing and interacting online. Further, simple slope analyses indicated that certain Internet literacy domains were related differentially to IUD symptoms in Germany and China. While Chinese participants with higher reflective skills indicated highest IUD symptoms, reflective skills revealed no effect in Germany. Additionally, higher self-regulative skills correlated with lower IUD symptoms in the German, but not in the Chinese sample. The results give a hint to potential cultural differences regarding IUD, especially on the predictive and protective role of Internet literacy domains.

Investigating the Effect of Personality, Internet Literacy, and Use Expectancies in Internet-Use Disorder: A Comparative Study between China and Germany

Science.gov (United States)

Brand, Matthias; Li, Mei; Zhou, Min; Sha, Peng

2018-01-01

Research on Internet-use Disorder (IUD) has increased rapidly, indicating its clinical and global importance. Past studies suggested cultural diversity regarding the prevalence of an IUD, e.g., between Asian and European countries. Additionally, it was found that personality factors, Internet-related cognitions and specific competences seem to influence IUD tendencies, but research lacks in cultural comparative studies regarding these mechanisms. This study focuses on differences between Germany and China regarding the above-mentioned characteristics. German (n = 411; M = 20.70 years, SD = 3.34 years) and Chinese participants (n = 410; M = 20.72 years, SD = 2.65 years) answered the short Internet Addiction Test, Big Five Inventories, the Internet-use Expectancies Scale, as well as the Internet Literacy Questionnaire. The results revealed higher occurrence of IUD symptoms in China. Furthermore, Chinese participants scored significantly higher on neuroticism and agreeableness, whereas German participants scored higher on extraversion and openness. Compared to German participants, Chinese showed higher expectancies to avoid negative feelings online and to be positively reinforced. Regarding Internet literacy, German participants indicated higher skills concerning the reflection and critical analysis of online content, whereas Chinese showed higher expertise in producing and interacting online. Further, simple slope analyses indicated that certain Internet literacy domains were related differentially to IUD symptoms in Germany and China. While Chinese participants with higher reflective skills indicated highest IUD symptoms, reflective skills revealed no effect in Germany. Additionally, higher self-regulative skills correlated with lower IUD symptoms in the German, but not in the Chinese sample. The results give a hint to potential cultural differences regarding IUD, especially on the predictive and protective role of Internet literacy domains. PMID:29570663

Patients' views on price shopping and price transparency.

Science.gov (United States)

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

2017-06-01

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

A robust internet-based auction to procure electricity forwards

International Nuclear Information System (INIS)

Woo, C.K.; Lloyd, D.; Borden, M.; Warrington, R.; Baskette, C.

2004-01-01

Securing forward contracts to manage procurement-cost risk is an intuitively appealing and economically reasonable strategy for a load-serving local distribution company (LDC) in today's volatile electricity marketplace. However, knowing what to buy does not guarantee least-cost implementation. The forward-contract price quoted by a prospective seller may not be the 'best deal' that an LDC could have obtained, especially when the forward contract desired by the LDC is not actively traded. This paper reports the results from five internet-based auctions for electricity forward contracts with non-firm delivery and varying hourly quantities held monthly by a Florida municipal utility (MU) from September 2002 to January 2003. The results confirm that a multi-round auction design is robust in realizing competitive price offers made by credit-worthy sellers, time-efficient contracting, and consistent cost savings to the MU. Thus, the Anglo-Dutch auction described herein is a reasonable substitute for generation ownership by an LDC. (author)

Analyzing the effects of past prices on reference price formation

OpenAIRE

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

2004-01-01

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

Stock price forecasting based on time series analysis

Science.gov (United States)

Chi, Wan Le

2018-05-01

Using the historical stock price data to set up a sequence model to explain the intrinsic relationship of data, the future stock price can forecasted. The used models are auto-regressive model, moving-average model and autoregressive-movingaverage model. The original data sequence of unit root test was used to judge whether the original data sequence was stationary. The non-stationary original sequence as a first order difference needed further processing. Then the stability of the sequence difference was re-inspected. If it is still non-stationary, the second order differential processing of the sequence is carried out. Autocorrelation diagram and partial correlation diagram were used to evaluate the parameters of the identified ARMA model, including coefficients of the model and model order. Finally, the model was used to forecast the fitting of the shanghai composite index daily closing price with precision. Results showed that the non-stationary original data series was stationary after the second order difference. The forecast value of shanghai composite index daily closing price was closer to actual value, indicating that the ARMA model in the paper was a certain accuracy.

Estimating the Price Elasticity of Demand for Different Levels of Alcohol Consumption among Young Adults

OpenAIRE

Vinish Shrestha

2015-01-01

Understanding the effect of higher alcohol prices on alcohol demand according to one’s level of alcohol consumption is crucial while evaluating the effectiveness of using alcohol taxes as an alcohol-control medium. In this study, I estimate the differential responses to alcohol prices on alcohol demand for young adults by asking whether heavy drinkers are more responsive to higher alcohol prices than light and moderate drinkers. To conduct the analysis, I use the data from the National Long...

Forecasting Day-Ahead Electricity Prices : Utilizing Hourly Prices

NARCIS (Netherlands)

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

2013-01-01

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

Plane Ticket Price Dispersion in the Online Selling System in Poland

Directory of Open Access Journals (Sweden)

Tomasz Stanisław Szopiński

2014-06-01

Full Text Available Many authors have studied the influence exerted by tourism on the economy. Today, Information and Communication Technologies (ICT are an important factor influencing competitiveness in the tourism sector and consumers’ decision-making concerning tourism purchases. Along with the expansion of the European Union, the revolution in passenger air transportation has spread over new member states in Central and Eastern Europe, including Poland. The authors of this study analyzed ticket prices on Internet websites that aggregate offers from different carriers and on the websites managed by the carriers themselves, specifically studying offers for the most popular flight connections from F. Chopin airport in Warsaw to London, Frankfurt, Munich, and Paris. For each connection, the study examined flights operated by the Polish carrier, i.e., LOT Polish Airlines, and by a carrier originating from a destination country. The analysis of the particular coefficients illustrating the price dispersion for each flight operated by a foreign carrier in comparison to the offer from LOT Polish Airlines points to the conclusion that the tickets offered by the latter were marked by a much narrower price dispersion in contrast to the connections offered by foreign carriers on the same route.

Error analysis in Fourier methods for option pricing for exponential Lévy processes

KAUST Repository

Crocce, Fabian

2015-01-07

We derive an error bound for utilising the discrete Fourier transform method for solving Partial Integro-Differential Equations (PIDE) that describe european option prices for exponential Lévy driven asset prices. We give sufficient conditions for the existence of a L? bound that separates the dynamical contribution from that arising from the type of the option n in question. The bound achieved does not rely on information of the asymptotic behaviour of option prices at extreme asset values. In addition, we demonstrate improved numerical performance for select examples of practical relevance when compared to established bounding methods.

Fifteen Minutes of Fame? The Market Impact of Internet Stock Picks

OpenAIRE

Peter Antunovich; Asani Sarkar

2006-01-01

We examine 120 Nasdaq and Over-the-Counter "buy" recommendations made by Internet sites from April 1999 to June 2001. The stock picks show substantial short- and long-run price and liquidity gains, although no new information is revealed about them. For example, liquidity one year after the pick day remains higher for these stocks than for a sample matched according to size, book-to-market value, and liquidity in the preceding year. In addition, after controlling for fundamental and microstru...

Oil prices and the stock prices of alternative energy companies

International Nuclear Information System (INIS)

Henriques, Irene; Sadorsky, Perry

2008-01-01

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

Forecasting Day-Ahead Electricity Prices: Utilizing Hourly Prices

OpenAIRE

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

2013-01-01

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

5 CFR 591.228 - How does OPM convert the price index plus adjustment factor to a COLA rate?

Science.gov (United States)

2010-01-01

... MANAGEMENT CIVIL SERVICE REGULATIONS ALLOWANCES AND DIFFERENTIALS Cost-of-Living Allowance and Post Differential-Nonforeign Areas Cost-Of-Living Allowances § 591.228 How does OPM convert the price index plus...

Internet addiction: coping styles, expectancies, and treatment implications.

Science.gov (United States)

Brand, Matthias; Laier, Christian; Young, Kimberly S

2014-01-01

Internet addiction (IA) has become a serious mental health condition in many countries. To better understand the clinical implications of IA, this study tested statistically a new theoretical model illustrating underlying cognitive mechanisms contributing to development and maintenance of the disorder. The model differentiates between a generalized Internet addiction (GIA) and specific forms. This study tested the model on GIA on a population of general Internet users. The findings from 1019 users show that the hypothesized structural equation model explained 63.5% of the variance of GIA symptoms, as measured by the short version of the Internet Addiction Test. Using psychological and personality testing, the results show that a person's specific cognitions (poor coping and cognitive expectations) increased the risk for GIA. These two factors mediated the symptoms of GIA if other risk factors were present such as depression, social anxiety, low self-esteem, low self-efficacy, and high stress vulnerability to name a few areas that were measured in the study. The model shows that individuals with high coping skills and no expectancies that the Internet can be used to increase positive or reduce negative mood are less likely to engage in problematic Internet use, even when other personality or psychological vulnerabilities are present. The implications for treatment include a clear cognitive component to the development of GIA and the need to assess a patient's coping style and cognitions and improve faulty thinking to reduce symptoms and engage in recovery.

Internet addiction: coping styles, expectancies, and treatment implications

Science.gov (United States)

Brand, Matthias; Laier, Christian; Young, Kimberly S.

2014-01-01

Internet addiction (IA) has become a serious mental health condition in many countries. To better understand the clinical implications of IA, this study tested statistically a new theoretical model illustrating underlying cognitive mechanisms contributing to development and maintenance of the disorder. The model differentiates between a generalized Internet addiction (GIA) and specific forms. This study tested the model on GIA on a population of general Internet users. The findings from 1019 users show that the hypothesized structural equation model explained 63.5% of the variance of GIA symptoms, as measured by the short version of the Internet Addiction Test. Using psychological and personality testing, the results show that a person’s specific cognitions (poor coping and cognitive expectations) increased the risk for GIA. These two factors mediated the symptoms of GIA if other risk factors were present such as depression, social anxiety, low self-esteem, low self-efficacy, and high stress vulnerability to name a few areas that were measured in the study. The model shows that individuals with high coping skills and no expectancies that the Internet can be used to increase positive or reduce negative mood are less likely to engage in problematic Internet use, even when other personality or psychological vulnerabilities are present. The implications for treatment include a clear cognitive component to the development of GIA and the need to assess a patient’s coping style and cognitions and improve faulty thinking to reduce symptoms and engage in recovery. PMID:25426088

Higher Education Prices and Price Indexes. 1976 Supplement.

Science.gov (United States)

Halstead, Kent D.

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

Weighted Average Cost of Retail Gas (WACORG) highlights pricing effects in the US gas value chain: Do we need wellhead price-floor regulation to bail out the unconventional gas industry?

International Nuclear Information System (INIS)

Weijermars, Ruud

2011-01-01

The total annual revenue stream in the US natural gas value chain over the past decade is analyzed. Growth of total revenues has been driven by higher wellhead prices, which peaked in 2008. The emergence of the unconventional gas business was made possible in part by the pre-recessional rise in global energy prices. The general rise in natural gas prices between 1998 and 2008 did not lower overall US gas consumption, but shifts have occurred during the past decade in the consumption levels of individual consumer groups. Industry's gas consumption has decreased, while power stations increased their gas consumption. Commercial and residential consumers maintained flat gas consumption patterns. This study introduces the Weighted Average Cost of Retail Gas (WACORG) as a tool to calculate and monitor an average retail price based on the different natural gas prices charged to the traditional consumer groups. The WACORG also provides insight in wellhead revenues and may be used as an instrument for calibrating retail prices in support of wellhead price-floor regulation. Such price-floor regulation is advocated here as a possible mitigation measure against excessive volatility in US wellhead gas prices to improve the security of gas supply. - Highlights: → This study introduces an average retail price, WACORG. → WACORG can monitor price differentials for the traditional US gas consumer groups. → WACORG also provides insight in US wellhead revenues. → WACORG can calibrate retail prices in support of wellhead price-floor regulation. → Gas price-floor can improve security of gas supply by reducing price volatility.

Dynamic optimization and differential games

CERN Document Server

Friesz, Terry L

2010-01-01

Dynamic Optimization and Differential Games has been written to address the increasing number of Operations Research and Management Science problems that involve the explicit consideration of time and of gaming among multiple agents. With end-of-chapter exercises throughout, it is a book that can be used both as a reference and as a textbook. It will be useful as a guide to engineers, operations researchers, applied mathematicians and social scientists whose work involves both the theoretical and computational aspects of dynamic optimization and differential games. Included throughout the text are detailed explanations of several original dynamic and game-theoretic mathematical models which are of particular relevance in today's technologically-driven-global economy: revenue management, oligopoly pricing, production planning, supply chain management, dynamic traffic assignment and dynamic congestion pricing. The book emphasizes deterministic theory, computational tools and applications associated with the stu...

A Stochastic Delay Model For Pricing Debt And Loan Guarantees: Theoretical Results

OpenAIRE

Kemajou, Elisabeth; Mohammed, Salah-Eldin; Tambue, Antoine

2012-01-01

We consider that the price of a firm follows a non linear stochastic delay differential equation. We also assume that any claim value whose value depends on firm value and time follows a non linear stochastic delay differential equation. Using self-financed strategy and replication we are able to derive a Random Partial Differential Equation (RPDE) satisfied by any corporate claim whose value is a function of firm value and time. Under specific final and boundary conditions, we solve the RPDE...

Another look on the relationships between oil prices and energy prices

International Nuclear Information System (INIS)

Lahiani, Amine; Miloudi, Anthony; Benkraiem, Ramzi; Shahbaz, Muhammad

2017-01-01

This paper employs the Quantile Autoregressive Distributed Lags (QARDL) model developed recently by Cho et al. (2015) to investigate the pass-through of oil prices to a set of energy prices. This approach allows analyzing simultaneously short-term connections and long-run cointegrating relationships across a range of quantiles. It also provides insights on the short-run predictive power of oil prices in predicting energy prices while accounting for the cointegration between oil prices and each of the considered energy prices in low, medium and high quantiles. Two key findings emerge from this paper. First, all considered energy prices are shown to be cointegrated with oil price across quantiles meaning that a stationaryequilibriumrelationship exists between single energy price and oil price. Second, we find evidence that oil price is a significant predictor of individual petroleum products prices and natural gas in the short run. This paper has important policy implications for forecasters, energy policy-makers and portfolio managers. - Highlights: • The pass-through of oil prices to a set of energy prices is investigated for US economy. • All considered energy prices are shown to be cointegrated with oil price across quantiles. • Oil price is a significant predictor of individual petroleum products prices in the short run. • Oil price also predicts natural gas prices in the short run.

The Pricing Strategy of Oligopolistic Competition Food Firms with the Asymmetric Information and Scientific Uncertainty

Directory of Open Access Journals (Sweden)

Li Zhao

2017-01-01

Full Text Available The arguments for and against genetically modified (GM food focus on the characteristics of the scientific uncertainty and asymmetric information for the GM food. How do these two factors affect the competition and pricing strategy of food firms that separate GM food and conventional food conforming to consumer’s right to know? We explore the issue of pricing strategies between two firms producing horizontally and vertically differentiated foods in the context of asymmetric information and scientific uncertainty. The theoretical results show that there are two separating perfect Bayesian equilibria in which the prices of the conventional food and GM food are strategic complements and the profits of two types of firms are both increasing in the price of GM food. The numerical example shows that a decrease of the expected potential net damage as the most sensitive parameter leads to an increase of the profits of the two firms. Additionally, an increase in product differentiation helps to increase the two firms’ profits. Finally, the decrease in risk aversion as the second sensitive parameter helps to increase both products’ prices and quantities and both firms’ profits. This paper contributes by combining food safety regulation with market mechanisms and competition.

Extended dynamic oligopolies with flexible workforce and isoelastic price function

Directory of Open Access Journals (Sweden)

Akio Matsumoto

2016-11-01

Full Text Available Single-product oligopolies without product differentiation are examined with linear production, production adjustment, flexible workforce and investment costs. The price function is assumed to be hyperbolic which makes the nonlinearity of the model much stronger than in the case of linear price function examined earlier in the literature. The best responses of the firms are determined which are not monotonic in contrast to the linear case. The set of all steady states is then characterized and in the case of a duopoly it is illustrated. The asymptotical behavior of the steady states is examined by using simulation. We analyze the effects of such costs on the industry dynamics and compare them to the prediction by the well known model with hyperbolic price function and no product adjustment and investments costs.

Price convergence and information efficiency in German natural gas markets

International Nuclear Information System (INIS)

Growitsch, Christian; Stronzik, Marcus; Nepal, Rabindra

2012-01-01

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

Internet cigarette vendors make tax-free claims and sell cigarettes cheaper than retail outlets

Science.gov (United States)

Hall, Marissa G.; Williams, Rebecca S.; Gammon, Doris G.; Ribisl, Kurt M.

2015-01-01

Objective This paper aims to (1) assess whether promotion of tax-free sales among Internet cigarette vendors (ICVs) changed between 2009 and 2011, (2) determine which types of ICVs are most likely to promote tax-free sales (e.g., US-based, international, or mixed location ICVs), and (3) compare the price of cigarettes advertised in ICVs to prices at brick-and-mortar retail outlets. Methods We analyzed data from the 200 most popular ICVs in 2009, 2010, and 2011 to assess promotion of tax-free sales and the price of Marlboro cigarette cartons. We used Nielsen scanner data from 2009, 2010, and 2011 to measure the price of Marlboro cartons in US grocery stores. Findings The odds of ICVs claiming tax-free status were higher in 2011 than in 2009 (odds ratio (OR)=1.58, ponline, compared to $52.73 in US grocery stores. We estimated that in 2011, a pack-a-day smoker living in an area with high cigarette prices would save $1,508 per year buying cigarettes online. Conclusions ICVs commonly promote tax-free sales, and cigarettes are cheaper online compared to US grocery stores. Better enforcement of the Prevent All Cigarette Trafficking Act is needed to address tax-free cigarette sales among ICVs. PMID:26490844

Pricing Mining Concessions Based on Combined Multinomial Pricing Model

Directory of Open Access Journals (Sweden)

Chang Xiao

2017-01-01

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

Numerical Methods for Pricing American Options with Time-Fractional PDE Models

Directory of Open Access Journals (Sweden)

Zhiqiang Zhou

2016-01-01

Full Text Available In this paper we develop a Laplace transform method and a finite difference method for solving American option pricing problem when the change of the option price with time is considered as a fractal transmission system. In this scenario, the option price is governed by a time-fractional partial differential equation (PDE with free boundary. The Laplace transform method is applied to the time-fractional PDE. It then leads to a nonlinear equation for the free boundary (i.e., optimal early exercise boundary function in Laplace space. After numerically finding the solution of the nonlinear equation, the Laplace inversion is used to transform the approximate early exercise boundary into the time space. Finally the approximate price of the American option is obtained. A boundary-searching finite difference method is also proposed to solve the free-boundary time-fractional PDEs for pricing the American options. Numerical examples are carried out to compare the Laplace approach with the finite difference method and it is confirmed that the former approach is much faster than the latter one.

An irregular grid approach for pricing high-dimensional American options

NARCIS (Netherlands)

Berridge, S.J.; Schumacher, J.M.

2008-01-01

We propose and test a new method for pricing American options in a high-dimensional setting. The method is centered around the approximation of the associated complementarity problem on an irregular grid. We approximate the partial differential operator on this grid by appealing to the SDE

An Irregular Grid Approach for Pricing High-Dimensional American Options

NARCIS (Netherlands)

Berridge, S.J.; Schumacher, J.M.

2004-01-01

We propose and test a new method for pricing American options in a high-dimensional setting.The method is centred around the approximation of the associated complementarity problem on an irregular grid.We approximate the partial differential operator on this grid by appealing to the SDE

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

International Nuclear Information System (INIS)

Lim, Seul-Ye; Yoo, Seung-Hoon

2013-01-01

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

Optimal pricing and promotional effort control policies for a new product growth in segmented market

Directory of Open Access Journals (Sweden)

Jha P.C.

2015-01-01

Full Text Available Market segmentation enables the marketers to understand and serve the customers more effectively thereby improving company’s competitive position. In this paper, we study the impact of price and promotion efforts on evolution of sales intensity in segmented market to obtain the optimal price and promotion effort policies. Evolution of sales rate for each segment is developed under the assumption that marketer may choose both differentiated as well as mass market promotion effort to influence the uncaptured market potential. An optimal control model is formulated and a solution method using Maximum Principle has been discussed. The model is extended to incorporate budget constraint. Model applicability is illustrated by a numerical example. P.C. Jha, P. Manik, K. Chaudhary, R. Cambini / Optimal Pricing and Promotional 2 Since the discrete time data is available, the formulated model is discretized. For solving the discrete model, differential evolution algorithm is used.

L2-approximating Pricing under Restricted Information

International Nuclear Information System (INIS)

Mania, M.; Tevzadze, R.; Toronjadze, T.

2009-01-01

We consider the mean-variance hedging problem under partial information in the case where the flow of observable events does not contain the full information on the underlying asset price process. We introduce a certain type martingale equation and characterize the optimal strategy in terms of the solution of this equation. We give relations between this equation and backward stochastic differential equations for the value process of the problem

Optimal pricing and investment in the electricity sector in Tamil Nadu, India

Science.gov (United States)

Murthy, Ranganath Srinivas

2001-07-01

Faulty pricing policies and inadequate investment in the power sector are responsible for the chronic power shortages that plague Tamil Nadu and the rest of India. Formulae for optimal pricing rules are derived for a social welfare maximizing Electricity Board which sells electricity that is used both as an intermediate, and as a final good. Because of distributional constraints, the optimal prices deviate systematically from marginal costs. Optimal relative price-marginal cost differentials are computed for Tamil Nadu, and are found to indicate a lower degree of subsidization than the prevailing prices. The rationalization of electricity tariffs would very likely increase the Board's revenues. The cost-effectiveness of nuclear power in India is examined by comparing actual data for the Madras Atomic Power Project and the Singrauli coal-fired thermal power station. The conventional (non-environmental) costs of power generation are compared at both market prices and shadow prices, calculated according to the UNIDO guidelines for project evaluation. Despite favorable assumptions for the costs of the nuclear plant, coal had a decided edge over nuclear in Tamil Nadu. Remarkably, the edge varied little when market prices are replaced by shadow prices in the computations. With regard to the environmental costs, far too much remains unknown. More research is therefore needed on the environmental impacts of both types of power generation before a final choice can be made.

Internet skills performance tests : are people ready for eHealth?

NARCIS (Netherlands)

van Deursen, Alexander Johannes Aloysius Maria; van Dijk, Johannes A.G.M.

2011-01-01

Background: Despite the amount of online health information, there are several barriers that limit the Internet’s adoption as a source of health information. One of these barriers is highlighted in conceptualizations of the digital divide which include the differential possession of Internet skills,

Price fairness

OpenAIRE

Diller, Hermann

2013-01-01

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

Effect of oil price on Nigeria’s food price volatility

Directory of Open Access Journals (Sweden)

Ijeoma C. Nwoko

2016-12-01

Full Text Available This study examines the effect of oil price on the volatility of food price in Nigeria. It specifically considers the long-run, short-run, and causal relationship between these variables. Annual data on oil price and individual prices of maize, rice, sorghum, soya beans, and wheat spanning from 2000 to 2013 were used. The price volatility for each crop was obtained using Generalized Autoregressive Conditional Heteroskedascity (GARCH (1, 1 model. Our measure of oil price is the Refiner acquisition cost of imported crude oil. The Augmented Dickey–Fuller and Phillip–Perron unit root tests show that all the variables are integrated of order one, I (1. Therefore, we use the Johansen co-integration test to examine the long-run relationship. Our results show that there is no long-run relationship between oil price and any of the individual food price volatility. Thus, we implement a VAR instead of a VECM to investigate the short-run relationship. The VAR model result revealed a positive and significant short-run relationship between oil price and each of the selected food price volatility with exception of that of rice and wheat price volatility. These results were further confirmed by the impulse response functions. The Granger causality test result indicates a unidirectional causality from oil price to maize, soya bean, and sorghum price volatilities but does not show such relationship for rice and wheat price volatilities. We draw some policy implications of these findings.

A boundary PDE feedback control approach for the stabilization of mortgage price dynamics

Science.gov (United States)

Rigatos, G.; Siano, P.; Sarno, D.

2017-11-01

Several transactions taking place in financial markets are dependent on the pricing of mortgages (loans for the purchase of residences, land or farms). In this article, a method for stabilization of mortgage price dynamics is developed. It is considered that mortgage prices follow a PDE model which is equivalent to a multi-asset Black-Scholes PDE. Actually it is a diffusion process evolving in a 2D assets space, where the first asset is the house price and the second asset is the interest rate. By applying semi-discretization and a finite differences scheme this multi-asset PDE is transformed into a state-space model consisting of ordinary nonlinear differential equations. For the local subsystems, into which the mortgage PDE is decomposed, it becomes possible to apply boundary-based feedback control. The controller design proceeds by showing that the state-space model of the mortgage price PDE stands for a differentially flat system. Next, for each subsystem which is related to a nonlinear ODE, a virtual control input is computed, that can invert the subsystem's dynamics and can eliminate the subsystem's tracking error. From the last row of the state-space description, the control input (boundary condition) that is actually applied to the multi-factor mortgage price PDE system is found. This control input contains recursively all virtual control inputs which were computed for the individual ODE subsystems associated with the previous rows of the state-space equation. Thus, by tracing the rows of the state-space model backwards, at each iteration of the control algorithm, one can finally obtain the control input that should be applied to the mortgage price PDE system so as to assure that all its state variables will converge to the desirable setpoints. By showing the feasibility of such a control method it is also proven that through selected modification of the PDE boundary conditions the price of the mortgage can be made to converge and stabilize at specific

Commuting, Life-Satisfaction and Internet Addiction

Science.gov (United States)

Lachmann, Bernd; Sariyska, Rayna; Kannen, Christopher; Stavrou, Maria

2017-01-01

The focus of the present work was on the association between commuting (business and private), life satisfaction, stress, and (over-) use of the Internet. Considering that digital devices are omnipresent in buses and trains, no study has yet investigated if commuting contributes to the development of Internet addiction. Overall, N = 5039 participants (N = 3477 females, age M = 26.79, SD = 10.68) took part in an online survey providing information regarding their commuting behavior, Internet addiction, personality, life satisfaction, and stress perception. Our findings are as follows: Personality seems to be less suitable to differentiate between commuter and non-commuter groups, which is possibly due to commuters often not having a choice but simply must accept offered job opportunities at distant locations. Second, the highest levels of satisfaction were found with income and lodging in the group commuting for business purposes. This might be related to the fact that commuting results in higher salaries (hence also better and more expensive housing style) due to having a job in another city which might exceed job opportunities at one’s own living location. Third, within the business-commuters as well as in the private-commuter groups, females had significantly higher levels of stress than males. This association was not present in the non-commuter group. For females, commuting seems to be a higher burden and more stressful than for males, regardless of whether they commute for business or private reasons. Finally, we observed an association between higher stress perception (more negative attitude towards commuting) and Internet addiction. This finding suggests that some commuters try to compensate their perceived stress with increased Internet use. PMID:28981452

Commuting, Life-Satisfaction and Internet Addiction

Directory of Open Access Journals (Sweden)

Bernd Lachmann

2017-10-01

Full Text Available The focus of the present work was on the association between commuting (business and private, life satisfaction, stress, and (over- use of the Internet. Considering that digital devices are omnipresent in buses and trains, no study has yet investigated if commuting contributes to the development of Internet addiction. Overall, N = 5039 participants (N = 3477 females, age M = 26.79, SD = 10.68 took part in an online survey providing information regarding their commuting behavior, Internet addiction, personality, life satisfaction, and stress perception. Our findings are as follows: Personality seems to be less suitable to differentiate between commuter and non-commuter groups, which is possibly due to commuters often not having a choice but simply must accept offered job opportunities at distant locations. Second, the highest levels of satisfaction were found with income and lodging in the group commuting for business purposes. This might be related to the fact that commuting results in higher salaries (hence also better and more expensive housing style due to having a job in another city which might exceed job opportunities at one’s own living location. Third, within the business-commuters as well as in the private-commuter groups, females had significantly higher levels of stress than males. This association was not present in the non-commuter group. For females, commuting seems to be a higher burden and more stressful than for males, regardless of whether they commute for business or private reasons. Finally, we observed an association between higher stress perception (more negative attitude towards commuting and Internet addiction. This finding suggests that some commuters try to compensate their perceived stress with increased Internet use.

Commuting, Life-Satisfaction and Internet Addiction.

Science.gov (United States)

Lachmann, Bernd; Sariyska, Rayna; Kannen, Christopher; Stavrou, Maria; Montag, Christian

2017-10-05

The focus of the present work was on the association between commuting (business and private), life satisfaction, stress, and (over-) use of the Internet. Considering that digital devices are omnipresent in buses and trains, no study has yet investigated if commuting contributes to the development of Internet addiction. Overall, N = 5039 participants (N = 3477 females, age M = 26.79, SD = 10.68) took part in an online survey providing information regarding their commuting behavior, Internet addiction, personality, life satisfaction, and stress perception. Our findings are as follows: Personality seems to be less suitable to differentiate between commuter and non-commuter groups, which is possibly due to commuters often not having a choice but simply must accept offered job opportunities at distant locations. Second, the highest levels of satisfaction were found with income and lodging in the group commuting for business purposes. This might be related to the fact that commuting results in higher salaries (hence also better and more expensive housing style) due to having a job in another city which might exceed job opportunities at one's own living location. Third, within the business-commuters as well as in the private-commuter groups, females had significantly higher levels of stress than males. This association was not present in the non-commuter group. For females, commuting seems to be a higher burden and more stressful than for males, regardless of whether they commute for business or private reasons. Finally, we observed an association between higher stress perception (more negative attitude towards commuting) and Internet addiction. This finding suggests that some commuters try to compensate their perceived stress with increased Internet use.

Delivered Pricing, FOB Pricing, and Collusion in Spatial Markets

OpenAIRE

Maria Paz Espinosa

1992-01-01

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

Food prices and poverty negatively affect micronutrient intakes in Guatemala.

Science.gov (United States)

Iannotti, Lora L; Robles, Miguel; Pachón, Helena; Chiarella, Cristina

2012-08-01

Limited empirical evidence exists for how economic conditions affect micronutrient nutrition. We hypothesized that increasing poverty and rising food prices would reduce consumption of high-quality "luxury" foods, leading to an increased probability of inadequacy for several nutrients. The 2006 Guatemala National Living Conditions Survey was analyzed. First, energy and nutrient intakes and adequacy levels were calculated. Second, the income-nutrient relationships were investigated by assessing disparities in intakes, determining income-nutrient elasticities, and modeling nutrient intakes by reductions in income. Third, the food price-nutrient relationships were explored through determination of price-nutrient elasticities and modeling 2 price scenarios: an increase in food prices similar in magnitude to the food price crisis of 2007-2008 and a standardized 10% increase across all food groups. Disparities in nutrient intakes were greatest for vitamin B-12 (0.38 concentration index) and vitamin A (0.30 concentration index); these nutrients were highly and positively correlated with income (r = 0.22-0.54; P < 0.05). Although the baseline probability of inadequacy was highest for vitamin B-12 (83%), zinc showed the greatest increase in probability of inadequacy as income was reduced, followed by folate and vitamin A. With rising food prices, zinc intake was most acutely affected under both scenarios (P < 0.05) and folate intake in the poorest quintile (+7 percentage points) under the 10% scenario. Price-nutrient elasticities were highest for vitamin B-12 and the meat, poultry, and fish group (-0.503) and for folate and the legumes group (-0.343). The economic factors of food prices and income differentially influenced micronutrient intakes in Guatemala, notably zinc and folate intakes.

Pricing and Trust

DEFF Research Database (Denmark)

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

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

Peering Strategic Game Models for Interdependent ISPs in Content Centric Internet

Directory of Open Access Journals (Sweden)

Jia Zhao

2013-01-01

Full Text Available Emergent content-oriented networks prompt Internet service providers (ISPs to evolve and take major responsibility for content delivery. Numerous content items and varying content popularities motivate interdependence between peering ISPs to elaborate their content caching and sharing strategies. In this paper, we propose the concept of peering for content exchange between interdependent ISPs in content centric Internet to minimize content delivery cost by a proper peering strategy. We model four peering strategic games to formulate four types of peering relationships between ISPs who are characterized by varying degrees of cooperative willingness from egoism to altruism and interconnected as profit-individuals or profit-coalition. Simulation results show the price of anarchy (PoA and communication cost in the four games to validate that ISPs should decide their peering strategies by balancing intradomain content demand and interdomain peering relations for an optimal cost of content delivery.

Peering Strategic Game Models for Interdependent ISPs in Content Centric Internet

Science.gov (United States)

Guan, Jianfeng; Xu, Changqiao; Su, Wei; Zhang, Hongke

2013-01-01

Emergent content-oriented networks prompt Internet service providers (ISPs) to evolve and take major responsibility for content delivery. Numerous content items and varying content popularities motivate interdependence between peering ISPs to elaborate their content caching and sharing strategies. In this paper, we propose the concept of peering for content exchange between interdependent ISPs in content centric Internet to minimize content delivery cost by a proper peering strategy. We model four peering strategic games to formulate four types of peering relationships between ISPs who are characterized by varying degrees of cooperative willingness from egoism to altruism and interconnected as profit-individuals or profit-coalition. Simulation results show the price of anarchy (PoA) and communication cost in the four games to validate that ISPs should decide their peering strategies by balancing intradomain content demand and interdomain peering relations for an optimal cost of content delivery. PMID:24381517

Market responses to HMOs: price competition or rivalry?

Science.gov (United States)

McLaughlin, C G

1988-01-01

Although competition for consumers is increasing in the health care sector, there is disagreement about whether it is resulting in cost containment, as its supporters have argued it would. In part this stems from a confusion between price competition, which under ideal circumstances leads to the production of services at the lowest possible cost, and nonprice competition--or rivalry--which under many circumstances will lead to increased costs. In this paper, I examine the evidence about the competitive response to the growing presence of health maintenance organizations in the health care marketplace. The available evidence suggests that providers are responding not with classical cost-containing price competition but, instead, with cost-increasing rivalry, characterized by increased expenditures to promote actual or perceived product differentiation.

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)

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

International Nuclear Information System (INIS)

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

2015-01-01

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

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

Greater involvement and diversity of Internet gambling as a risk factor for problem gambling

Science.gov (United States)

Russell, Alex; Blaszczynski, Alex; Hing, Nerilee

2015-01-01

Background: Concerns that Internet gambling has elevated the prevalence of problem gambling have not been substantiated; however, evidence suggests a subgroup of Internet gamblers do experience higher rates of gambling harms. Greater overall involvement in gambling appears to be predictive of harms. The purpose of this study was to examine differences between Internet gamblers with a single or multiple online gambling accounts, including their gambling behaviours, factors influencing their online gambling and risk of experiencing gambling problems. Methods: Internet gamblers (3178) responding to an online survey that assessed their gambling behaviour, and use of single or multiple online gambling accounts. Results: Results revealed that multiple account holders were more involved gamblers, gambling on more activities and more frequently, and had higher rates of gambling problems than single account holders. Multiple account holders selected gambling sites based on price, betting options, payout rates and game experience, whereas single account holders prioritized legality and consumer protection features. Conclusion: Results suggest two different types of Internet gamblers: one motivated to move between sites to optimize preferred experiences with a tendency to gamble in a more volatile manner; and a smaller, but more stable group less influenced by promotions and experiences, and seeking a reputable and safe gambling experience. As the majority of Internet gamblers use multiple accounts, more universal responsible gambling strategies are needed to assist gamblers to track and control their expenditure to reduce risks of harm. PMID:25745873

Understanding Price Controls and Non-Price Competition with Matching Theory

OpenAIRE

Hatfield, John William; Plott, Charles R.; Tanaka, Tomomi

2012-01-01

We develop a quality competition model to understand how price controls affect market outcomes in buyer-seller markets with discrete goods of varying quality. While competitive equilibria do not necessarily exist in such markets when price controls are imposed, we show that stable outcomes do exist and characterize the set of stable outcomes in the presence of price restrictions. In particular, we show that price controls induce non-price competition: price floors induce the trade of ineffici...

Separated influence of crude oil prices on regional natural gas import prices

International Nuclear Information System (INIS)

Ji, Qiang; Geng, Jiang-Bo; Fan, Ying

2014-01-01

This paper analyses the impact of global economic activity and international crude oil prices on natural gas import prices in three major natural gas markets using the panel cointegration model. It also investigates the shock impacts of the volatility and the increase and decrease of oil prices on regional natural gas import prices. The results show that both global economic activity and international crude oil prices have significant long-term positive effects on regional natural gas import prices. The volatility of international crude oil prices has a negative impact on regional natural gas import prices. The shock impact is weak in North America, lags in Europe and is most significant in Asia, which is mainly determined by different regional policies for price formation. In addition, the response of natural gas import prices to increases and decreases in international crude oil prices shows an asymmetrical mechanism, of which the decrease impact is relatively stronger. - Highlights: • Impacts of world economy and oil prices on regional natural gas prices are analysed • North American natural gas prices are mainly affected by world economy • Asian and European natural gas prices are mainly affected by oil prices • The volatility of oil prices has a negative impact on regional natural gas prices • The response of natural gas import prices to oil prices up and down shows asymmetry

Joint Pricing and Purchasing Decisions for the Dual-Channel Newsvendor Model with Partial Information

Directory of Open Access Journals (Sweden)

Jixiang Zhou

2014-01-01

Full Text Available We investigate a joint pricing and purchasing problem for the dual-channel newsvendor model with the assumption that only the mean and variance of the demand are known. The newsvendor in our model simultaneously distributes a single product through traditional retail and Internet. A robust optimization approach that maximizes the worst-case profit is adapted under the aforementioned conditions to model demand uncertainty and linear clearing functions that characterize the relationship between demand and prices. We obtain a close-form expression for the robust optimal policy. Illustrative simulations and numerical experiments show the effects of several parameters on the optimal policy and on newsvendor performance. Finally, we determine that the gap between newsvendor performance under demand certainty and uncertainty is minimal, which shows that the robust approach can significantly improve performance.

Fijación de precios dinámicos en Internet mediante simulación con hoja de cálculo

Directory of Open Access Journals (Sweden)

Martínez Maria-Dolores, Soledad María

2009-01-01

Full Text Available RESUMEN Tradicionalmente se plantea el problema del desconocimiento a priori de la función de demanda que caracteriza a los clientes de una empresa. Esta incertidumbre es mayor si entramos en el entorno de la Red. Además, el precio es un factor determinante de compra para los usuarios de Internet. Esto deriva en la importancia que tiene la elección de una estrategia de fijación de precios en un comercio tradicional, pero aún más en una tienda virtual. Procedemos por ello a revisar algunos procedimientos planteados para alcanzar la estrategia óptima de precios en el B2C, simulando las operaciones que determinan cuál es la estrategia que en un periodo de tiempo maximiza el valor presente neto esperado de los beneficios, resolviendo los cálculos de una manera práctica utilizando una herramienta asequible, las hojas de cálculo, esbozando así un panorama en el que podremos elegir la opción más adecuada al iniciar una actividad comercial en Internet.ABSTRACT Traditionally, the issue of lack of prior knowledge of the demand function which defines company customers is raised. This uncertainty is larger if we access net domains. In addition, price is a determining factor in Internet-users purchase. This results in the importance of the choice of a price-fixing strategy in a traditional business, let alone in a virtual store. We therefore proceed to revise certain proceedings raised to reach an optimal price strategy in the B2C, simulating operations that determine which is the strategy that, in a time span, maximizes the net present value expected from the benefits, solving calculations in a practical way by using a feasible tool, i.e. spreadsheets, thus drafting a panorama in which we may make the most adequate choice on initiating a commercial activity in Internet.

Differentiated Brand Marketing Strategy for China’s Conventional Aquatic Products

OpenAIRE

LIANG, Hua; SHEN, Zhongming

2015-01-01

The volume of production and marketing of China’s conventional aquatic products is increasing. Compared with price of livestock and poultry products, price of conventional aquatic products is relatively low. Differentiated brand marketing for China’s conventional aquatic products is a key approach for increasing market demand for conventional aquatic products and increasing value of conventional aquatic products. The differentiated brand marketing is an inevitable trend of market developm...

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

Science.gov (United States)

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

2018-01-01

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

Untangling the Relationship between Internet Anxiety and Internet Identification in Students: The Role of Internet Self-Efficacy

Science.gov (United States)

Hsiao, Bo; Zhu, Yu-Qian; Chen, Li-Yueh

2017-01-01

Introduction: Previous research has identified Internet anxiety and Internet identification as two important factors that predict usage and experience on the Internet. However, little is known about the relationship between them. This research aimed to untangle the relationship between Internet anxiety and Internet identification, and to…

Quality of service agents in the internet

OpenAIRE

Schelén, Olov

1998-01-01

The Internet is a multi-purpose communication network supporting users and applications with different service demands. To meet these demands, mechanisms for service differentiation in the network are proposed. This thesis presents an admission control architecture where clients can make resource reservations through agents. For each domain in the network there is an agent responsible for admission control. The architecture provides scalable resource reservations for virtual leased lines. Res...

Relationship between the Uncompensated Price Elasticity and the Income Elasticity of Demand under Conditions of Additive Preferences.

Science.gov (United States)

Sabatelli, Lorenzo

2016-01-01

Income and price elasticity of demand quantify the responsiveness of markets to changes in income and in prices, respectively. Under the assumptions of utility maximization and preference independence (additive preferences), mathematical relationships between income elasticity values and the uncompensated own and cross price elasticity of demand are here derived using the differential approach to demand analysis. Key parameters are: the elasticity of the marginal utility of income, and the average budget share. The proposed method can be used to forecast the direct and indirect impact of price changes and of financial instruments of policy using available estimates of the income elasticity of demand.

Competition among hospitals for HMO business: effect of price and nonprice attributes.

Science.gov (United States)

Young, Gary J; Burgess, James E; Valley, Danielle

2002-10-01

To investigate patterns of competition among hospitals for the business of health maintenance organizations (HMOs). The study focused on the relative importance of hospital price and nonprice attributes in the competition for HMO business. The study capitalized on hospital cost reports from Florida that are unique in their inclusion of financial data regarding HMO business activity. The time frame was 1992 to 1997. The study was designed as an observational investigation of acute care hospitals. Results indicated that a hospital's share of HMO business was related to both its price and nonprice attributes. However, the importance of both price and nonprice attributes diminished as the number of HMOs in a market increased. Hospitals that were market share leaders in terms of HMO business (i.e., 30 percent or more market share) were superior, on average, to their competitors on both price and nonprice attributes. Study results indicate that competition among hospitals for HMO business involves a complex set of price and nonprice attributes. The HMOs do not appear to focus on price alone. Hospitals likely to be the most attractive to HMOs are those that can differentiate themselves on the basis of nonprice attributes while being competitive on price as well.

Estimating the commodity market price of risk for energy prices

International Nuclear Information System (INIS)

Kolos, Sergey P.; Ronn, Ehud I.

2008-01-01

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

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

Science.gov (United States)

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

2014-01-01

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

Oil price and food price volatility dynamics: The case of Nigeria

Directory of Open Access Journals (Sweden)

Ijeoma C. Nwoko

2016-12-01

Full Text Available This study examines the long and short run relationships between oil price and food price volatility as well as the causal link between them. The study used annual food price volatility index from FAO from 2000 to 2013 and crude oil price from U.S. Energy Information and Administration (EIA from 2000 to 2013. The Johansen and Jesulius co-integration test revealed that there is a long run relationship between oil price and domestic food price volatility. The vector error correction model indicated a positive and significant short run relationship between oil price and food price volatility. The Granger causality test revealed a unidirectional causality with causality running from oil price to food price volatility but not vice versa. It is recommended that policies and interventions that will help reduce uncertainty about food prices such as improved market information, trade policies and investment in research and development among others should be encouraged. Also to reduce the effect of oil price shock, it is recommended that government should subsidise pump price of refined oil, seek alternative sources of energy and there should be less dependence on oil for fertilizer production.

Why do stumpage prices increase more than lumber prices?

Science.gov (United States)

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

1998-01-01

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

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

Science.gov (United States)

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

2014-12-01

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

Internet gambling is a predictive factor of Internet addictive behavior.

Science.gov (United States)

Critselis, Elena; Janikian, Mari; Paleomilitou, Noni; Oikonomou, Despoina; Kassinopoulos, Marios; Kormas, George; Tsitsika, Artemis

2013-12-01

Adolescent Internet gambling is associated with concomitant addictive behaviors. This study aimed to assess the prevalence of Internet gambling practices, its impact upon psychosocial development and to evaluate the association between gambling practices and Internet addictive behavior among Cypriot adolescents. A cross-sectional study was conducted in a convenience sample (n = 805) of adolescents attending selected public schools (9th and 10th grades) in Cyprus. Anonymous self-completed questionnaires were used including the Internet Addiction Test and the Strengths and Difficulties Questionnaire. Among the study population (n = 805), approximately one third (n = 28; 34.9%) reported Internet gambling. Internet gamblers were twice as likely to utilize Internet café portals (adjusted odds ratio for gender and age, AOR: 2.13; 95% confidence interval, 95% CI: 1.56-2.91) for interactive game-playing (AOR: 6.84; 95% CI: 4.23-11.07), chat-rooms (AOR: 2.57; 95% CI: 1.31-4.85), and retrieval of sexual information (AOR: 1.99; 95% CI: 1.42-2.81). Among Internet gamblers 26.0% (n = 73) reported borderline addictive Internet use and 4.3% (n = 12) addictive behavior. Internet gamblers more often had comprehensive psychosocial and emotional maladjustment (AOR: 4.00; 95% CI: 1.97-8.13), including Abnormal Conduct Problems (AOR: 3.26; 95% CI: 2.00-5.32), Emotional Symptoms (AOR: 1.78; 95% CI: 1.02-3.11), and Peer Problems (AOR: 2.44; 95% CI: 1.08-5.48) scores. The multivariate regression analyses indicated that the single independent predictor associated with Internet addictive behavior was Internet gambling (AOR: 5.66; 95% CI: 1.45-22.15). Internet gambling is associated with addictive Internet use, as well as emotional maladjustment and behavioral problems, among Cypriot adolescents. Longitudinal studies are needed to elucidate whether Internet gambling constitutes a risk factor for the development of Internet addictive behavior among adolescents.

Internet use, browsing, and the urban poor: implications for cancer control.

Science.gov (United States)

Viswanath, K; McCloud, Rachel; Minsky, Sara; Puleo, Elaine; Kontos, Emily; Bigman-Galimore, Cabral; Rudd, Rima; Emmons, Karen M

2013-12-01

Despite the growing penetration of the Internet, little is known about the usage and browsing patterns of those in poverty. We report on a randomized controlled trial that sheds light on the Internet use and browsing patterns among the urban poor. The data come from 312 participants in Boston, Massachusetts, from Click to Connect, a study that examined the impact of an intervention that provided computers, Internet, and training to people from lower socioeconomic position (SEP). Data were gathered through pre- and posttest surveys and Internet use tracking software that generated approximately 13 million network activity files and more than 5.5 million records. Internet use increased among intervention participants, with most of their time spent on social and participatory media sites or Internet portals. Differential patterns of use by gender and race/ethnicity were observed. Purposive searching for health information was low among all participants. Most of the visits to health-related sites were to local hospitals' sites suggesting the influence of possible preexisting relationships and trust. Social networking sites were frequently visited, with three sites enjoying similar popularity among all groups. Our data show that the availability of Internet can lead to significant increase in its use among low SEP groups. Low SEP members used the Internet for participation and engagement, but the sites visited differed by group. Harnessing the power of social networking sites and shareware sites may be a way to increase access to health information.

[Problematic Internet use, time spent online and personality traits].

Science.gov (United States)

Laconi, S; Andréoletti, A; Chauchard, E; Rodgers, R F; Chabrol, H

2016-06-01

online and personality traits, and none among a French sample. These results suggest the importance of assessing the impact of personality traits on Internet use, particularly on time spent online, by differentiating results in terms of gender and online activities. Copyright © 2016 L'Encéphale, Paris. Published by Elsevier Masson SAS. All rights reserved.

Consistent Estimation of Pricing Kernels from Noisy Price Data

OpenAIRE

Vladislav Kargin

2003-01-01

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

48 CFR 216.203 - Fixed-price contracts with economic price adjustment.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Fixed-price contracts with economic price adjustment. 216.203 Section 216.203 Federal Acquisition Regulations System DEFENSE... CONTRACTS Fixed-Price Contracts 216.203 Fixed-price contracts with economic price adjustment. ...

Pricing and hedging high-dimensional American options : an irregular grid approach

NARCIS (Netherlands)

Berridge, S.; Schumacher, H.

2002-01-01

We propose and test a new method for pricing American options in a high dimensional setting. The method is centred around the approximation of the associated variational inequality on an irregular grid. We approximate the partial differential operator on this grid by appealing to the SDE

Sociodemographic differences in fast food price sensitivity

Science.gov (United States)

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

2014-01-01

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

Internet cigarette vendors make tax-free claims and sell cigarettes cheaper than retail outlets.

Science.gov (United States)

Hall, Marissa G; Williams, Rebecca S; Gammon, Doris G; Ribisl, Kurt M

2016-11-01

This paper aims to (1) assess whether promotion of tax-free sales among Internet cigarette vendors (ICVs) changed between 2009 and 2011, (2) determine which types of ICVs are most likely to promote tax-free sales (eg, US-based, international or mixed location ICVs), and (3) compare the price of cigarettes advertised in ICVs to prices at brick-and-mortar retail outlets. We analysed data from the 200 most popular ICVs in 2009, 2010 and 2011 to assess promotion of tax-free sales and the price of Marlboro cigarette cartons. We used Nielsen scanner data from 2009, 2010 and 2011 to measure the price of Marlboro cartons in US grocery stores. The odds of ICVs claiming tax-free status were higher in 2011 than in 2009 (OR=1.58, ponline, compared to $52.73 in US grocery stores. We estimated that in 2011, a pack-a-day smoker living in an area with high cigarette prices would save $1508 per year buying cigarettes online. ICVs commonly promote tax-free sales, and cigarettes are cheaper online compared to US grocery stores. Better enforcement of the Prevent All Cigarette Trafficking Act is needed to address tax-free cigarette sales among ICVs. 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/.

The internet trade of counterfeit spirits in Russia – an emerging problem undermining alcohol, public health and youth protection policies? [version 2; referees: 2 approved

OpenAIRE