WorldWideScience

Sample records for pricing settlement structures

  1. Distributional impacts of car road pricing. Settlement structures determine divergence across countries

    International Nuclear Information System (INIS)

    Kalinowska, Dominika; Steininger, Karl W.

    2009-01-01

    Social questions of distribution and equity are of major importance for the political acceptance of car road pricing. The argument that kilometre-based private vehicle charging disadvantages the poor is often the core reason for opposing its introduction. An article in this journal [Steininger, K.W., Friedl, B., Gebetsroither, B., 2007. Sustainability impacts of car road pricing: a computable general equilibrium analysis for Austria. Ecological Economics 63, pp. 59-69] proved the opposite for one European country, i.e. that the rich bear most of the burden. In the present paper we use the very same model structure and apply it in a simulation to the data of another country. While macroeconomic and environmental conclusions are similar, we find a different distributional impact of car road pricing in our case. This issue is also of relevance in the analysis of the distributional implications concerning (recently significant) gasoline price increases. (author)

  2. Antidumping settlement rumors push prices up

    International Nuclear Information System (INIS)

    Anon.

    1992-01-01

    The NUKEM price range jumped sharply last month, ending up at $8.05-$8.70. The market took off amidst reports that price and volume quotas would be part of the antidumping settlement being negotiated by certain CIS republics and the US Department of Commerce. And the republics got no relief from the US Court of International Trade. In an opinion issues September 25, Judge Jane Restani upheld the validity of Commerce's investigation, reinforcing the rising trend in prices. The lower end of the range was established by offers of CIS origin uranium to those utilities that will not be affected by Euratom or Commerce restrictions. Ten deals were completed on the spot market in September. In all but one, the sellers were intermediaries

  3. 32 CFR 536.55 - Structured settlements.

    Science.gov (United States)

    2010-07-01

    ... 32 National Defense 3 2010-07-01 2010-07-01 true Structured settlements. 536.55 Section 536.55... AGAINST THE UNITED STATES Investigation and Processing of Claims § 536.55 Structured settlements. (a) The... of this part, structured settlements cannot be required but are encouraged in situations listed above...

  4. Forward and Spot Prices in Multi-Settlement Wholesale Electricity Markets

    Science.gov (United States)

    Larrieu, Jeremy

    In organized wholesale electricity markets, power is sold competitively in a multi-unit multi-settlement single-price auction comprised of a forward and a spot market. This dissertation attempts to understand the structure of the forward premium in these markets, and to identify the factors that may lead forward and spot prices to converge or diverge. These markets are unique in that the forward demand is price-sensitive, while spot residual demand is perfectly inelastic and must be met in full, a crucial design feature the literature often glosses over. An important contribution of this dissertation is the explicit modeling of each market separately in order to understand how generation and load choose to act in each one, and the consequences of these actions on equilibrium prices and quantities given that firms maximize joint profits over both markets. In the first essay, I construct a two-settlement model of electricity prices in which firms that own asymmetric capacity-constrained units facing convex costs compete to meet demand from consumers, first in quantities, then in prices. I show that the forward premium depends on the costliness of spot production relative to firms' ability to exercise market power by setting quantities in the forward market. In the second essay, I test the model from the first essay with unit-level capacity and marginal cost data from the California Independent System Operator (CAISO). I show that the model closely replicates observed price formation in the CAISO. In the third essay, I estimate a time series model of the CAISO forward premium in order to measure the impact that virtual bidding has had on forward and spot price convergence in California between April 2009 and March 2014. I find virtual bidding to have caused forward and spot prices to diverge due to the large number of market participants looking to hedge against - or speculate on - the occurrence of infrequent but large spot price spikes by placing virtual demand bids.

  5. Mitigating Settlement of Structures founded on Peat

    Science.gov (United States)

    Wijeyesekera, D. C.; Numbikannu, L.; Ismail, T. N. H. T.; Bakar, I.

    2016-07-01

    Observations made of two common failures of structures founded on peat/organic soil in Johor, Malaysia is presented. Critical evaluation of current lightweight fill technology to mitigate such settlement is also discussed. Lightweight technology, such as Expanded Polystyrene (EPS), has been used in construction on soft yielding ground for decades. Regrettably, some published information of EPS failures to perform on construction sites are also cited in this paper. This paper outlines some concepts leading to the development of an alternative innovative lightweight fill is that the idealised cellular structure of the GCM permit free flow of water and complemented by the mat structure which evens out any differential settlement A further highlight of this paper is the monitoring of the field performance of this lightweight fill (GCM) as a feasible alternative to fill weight reduction on yielding ground.. Hence, a prime research objective was to compare the fill settlements observed with 1m high fill of surcharge loading on peat ground (comparison of the case of using a partial 0.6m high GCM and that of a total of 1m of conventional sand backfill).

  6. Chaotic structure of oil prices

    Science.gov (United States)

    Bildirici, Melike; Sonustun, Fulya Ozaksoy

    2018-01-01

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

  7. Analysis of an Underground Structure Settlement Risk due to Tunneling

    DEFF Research Database (Denmark)

    Vahdatirad, Mohammad Javad; Ghodrat, Hadi; Firouzianbandpey, Sarah

    2010-01-01

    of the underground commercial center structure settlement is estimated using both empirical and numerical methods. The settlement risk level of the commercial center structure is determined based on presented definitions about risk classification of various types of structures. Consequently, tunneling processes...

  8. Structured settlement annuities, part 1: overview and the underwriting process.

    Science.gov (United States)

    Schmidt, C J; Singer, R B

    2000-01-01

    Structured settlement underwriting is the underwriting of medically impaired lives for the purchase of an annuity to fund the settlement. Other than risk assessment, structured settlement (SS) underwriting has little in common with traditional life insurance underwriting. Most noteworthy of these differences is the relative lack of actuarial data on which to base decisions about mortality and the necessity for prospective thinking about risk assessment. The purpose of this paper is to provide a foundation for understanding the structured settlement business and to contrast the underwriting of structured settlements with that of traditional life insurance. This is the first part of a two-part article on SS annuities. Part 2 deals with the mortality experience in SS annuitants and the life-table methodology used to calculate life expectancy for annuitants at increased mortality risk.

  9. Port pricing : principles, structure and models

    OpenAIRE

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

    2014-01-01

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

  10. Settlement

    Directory of Open Access Journals (Sweden)

    John Frow

    2011-04-01

    Full Text Available The paper explores the idea of settlement in each of its three major senses: as a place of human habitation; as a fixed and stable order of habitation; and as a political consensus reconciling fractious groups. Arguing that traditional accounts of settlement depend, with a kind of pastoral nostalgia, upon a view of abstraction and social complexity as in themselves  harmful, it follows through the implications of the concept for ways of dealing with the stranger, and it uses a drawing by the nineteenth-century indigenous Australian artist Tommy McRae, done about 1890 and entitled Corroboree, or William Buckley and dancers from the Wathaurong people, to propose a counterfactual model through which a settlement with the stranger might be imagined.

  11. The structure of settlement space in a Polynesian chiefdom

    International Nuclear Information System (INIS)

    Weisler, M.; Kirch, P.V.

    1985-01-01

    A major settlement pattern study of a late prehistoric archaeological landscape on Molokaii Island, Hawaii, is summarised. The study focusses on the structure of settlement space within a 7.7 sq. km area situated along the south-central coast of Molokaii, and encompassing two traditional land units (ahupua'a), Kawela and Makakupaia Iki. Intensive survey resulted in the discovery of 499 architectural features. These features were recorded using a standardised data-base system (designed for computerised analysis using SPSS) with 37 discrete and continuous variable, including environmental data, architectural attributes, metrical data, and the presence and density of surface cultural materials. Seventy-two structural features (14 percent of the total sample) were excavated; the total excavated area of 442.5 sq. m provides the largest subsurface data base associated with an intensive settlement pattern survey in the Hawaiian Islands. The late prehistoric and largely contemporaneous nature of this sample is indicated by 13 radiocarbon age determinations, ranging from A.D. 1650-1820. The possibilities for directly applying ethnohistoric models in the analysis and interpretation of this settlement pattern are enhanced by the protohistoric age of the archaeological landscape. The structure of settlement space at Kawela and Makakupaia Iki is examined from the perspectives of several paradigms, including environmental, social, economic and semiotic. No single paradigm provides an adequate account of the variation and complexity of the settlement landscape; in consort, however, these varied perspectives contribute to an enhanced understanding of the structure of late prehistoric Hawaiian society

  12. 26 CFR 157.5891-1 - Imposition of excise tax on structured settlement factoring transactions.

    Science.gov (United States)

    2010-04-01

    ... settlement factoring transactions. 157.5891-1 Section 157.5891-1 Internal Revenue INTERNAL REVENUE SERVICE... SETTLEMENT FACTORING TRANSACTIONS Tax on Structured Settlement Factoring Transactions § 157.5891-1 Imposition of excise tax on structured settlement factoring transactions. (a) In general. Section 5891 imposes...

  13. The settlement of foundation of existing large structure on soft ground and investigation of its allowable settlement

    International Nuclear Information System (INIS)

    Okamoto, Toshiro

    1987-01-01

    In our laboratory a study of siting on quarternary ground is followed to make possible to construct a nuclear power plant on soil ground in Japan, a important subject is to understand bearing capacity, settlement and seismic responce of foundation. So measured data are collected about relation between ground and type of foundation, total settlement and differential settlement of already constructed large structures, and it is done to investigate the real condition and to examine allowable settlement. Investigated structures are mainly foreign nuclear power plant and domestic and foreign high buildings. The higher buildings are, the more raft foundation are for type of foundation and the higher contact pressure are to similar to a nuclear power plant. So discussion is done about mainly raft foundation. It is found that some measured maximum total settlements are larger than already proposed allowable values. So empirical allowable settlement is derived from measured values considering the effect of the width of base slab, contact pressure and foundation ground. Differential settlement is investigated about relation to maximum total settlement, and is formulated considering the width and the rigidity of base slab. Beside the limit of differential settlement is obtained as foundation is damaged, and the limit of maximum total settlement is obtained by combining this and above mentioned relation. Obtained allowable value is largely influenced by the width of base slab, and becomes less severe than some already proposed values. So it is expected that deformation of foundation is rationaly investigated when large structure as nuclear power plant is constructed on soft ground. (author)

  14. Experience in settlement analysis and related geostatic considerations for the foundation design of heavy reactor structures

    International Nuclear Information System (INIS)

    McNeill, R.L.; Yen, B.C.; Bhushan, K.; Haley, S.C.

    1976-01-01

    Potential settlement problems associated with new, heavier reactor structures are discussed. Methods for obtaining data for settlement analyses are summarized and analysis procedures are compared in an example. Stress history and stress distribution concepts are shown to be important for settlement estimates. (author)

  15. Modelling oil price volatility with structural breaks

    International Nuclear Information System (INIS)

    Salisu, Afees A.; Fasanya, Ismail O.

    2013-01-01

    In this paper, we provide two main innovations: (i) we analyze oil prices of two prominent markets namely West Texas Intermediate (WTI) and Brent using the two recently developed tests by Narayan and Popp (2010) and Liu and Narayan, 2010 both of which allow for two structural breaks in the data series; and (ii) the latter method is modified to include both symmetric and asymmetric volatility models. We identify two structural breaks that occur in 1990 and 2008 which coincidentally correspond to the Iraqi/Kuwait conflict and the global financial crisis, respectively. We find evidence of persistence and leverage effects in the oil price volatility. While further extensions can be pursued, the consideration of asymmetric effects as well as structural breaks should not be jettisoned when modelling oil price volatility. - Highlights: ► We analyze oil price volatility using NP (2010) and LN (2010) tests. ► We modify the LN (2010) to account for leverage effects in oil price. ► We find two structural breaks that reflect major global crisis in the oil market. ► We find evidence of persistence and leverage effects in oil price volatility. ► Leverage effects and structural breaks are fundamental in oil price modelling.

  16. Financial structure signalling to auditors` pricing

    Directory of Open Access Journals (Sweden)

    Etumudon Ndidi ASIEN

    2017-05-01

    Full Text Available This paper empirically examines capital structure signalling to auditors. Financial structure has adverse selection that can negatively affect auditors’ perception of firm value or risk, which can lead the auditor to charge high price. We expect firms’ financial structure to positively relate with auditors’ pricing. Using panel data analysis methodology to analyse data of 311 firm-year observations of non-finance firms covering the period 2012-2015, pooled OLS regression results suggest that financial structure is positively related to auditors’ price. We find that equity, but not debt, is significantly related to auditors’ price. These results hold after controlling for auditor type. The positive relations suggest lower perceptions of firm value (hence high risk by auditors, thereby making firms to pay higher auditors’ price. This suggests that auditors penalise equity financed firms more than debt financed firms, probably because auditors interpret equity financing as firms’ inability to raise debt. Based on the findings, we recommend that auditors should monitor the capital structure of their clients to guide them in pricing their services. We also recommend that corporate finance managers should rebalance their firms’ capital structure cognisant of the fact that it signals to auditors.

  17. 20 CFR 10.713 - How is a structured settlement (that is, a settlement providing for receipt of funds over a...

    Science.gov (United States)

    2010-04-01

    ... present value of the right to receive all of the payments included in the structured settlement, allocated... 20 Employees' Benefits 1 2010-04-01 2010-04-01 false How is a structured settlement (that is, a... the gross recovery? 10.713 Section 10.713 Employees' Benefits OFFICE OF WORKERS' COMPENSATION PROGRAMS...

  18. The term structure of oil futures prices

    International Nuclear Information System (INIS)

    Gabillon, J.

    1991-01-01

    In recent years, there has been a massive development of derivative financial products in oil markets. The main interest came from large energy end-users who found in them a welcome opportunity to lock in fixed or maximum prices for their supplies over a period of time. Oil companies and oil traders were able to provide tailor-made swaps or options for the specific needs of the end-users. In this paper, we present a two-variable model of the term structures of futures prices and volatilities assuming that the spot and long-term prices of oil are stochastic, and are the main determinants of the convenience yield function. Although the resulting convenience yield is stochastic, the model admits an analytic formulation under some restrictions. (author)

  19. Gas Price Formation, Structure and Dynamics

    Energy Technology Data Exchange (ETDEWEB)

    Davoust, R.

    2008-07-01

    Our study, focused on gas prices in importing economies, describes wholesale prices and retail prices, their evolution for the last one or two decades, the economic mechanisms of price formation. While an international market for oil has developed thanks to moderate storage and transportation charges, these costs are much higher in the case of natural gas, which involves that this energy is still traded inside continental markets. There are three regional gas markets around the world: North America (the United States, importing mainly from Canada and Mexico), Europe (importing mainly from Russia, Algeria and Norway) and Asia (Japan, Korea, Taiwan, China and India, importing mainly from Indonesia, Malaysia and Australia). A market for gas has also developed in South America, but it will not be covered by our paper. In Europe and the US, due to large domestic resources and strong grids, natural gas is purchased mostly through pipelines. In Northeast Asia, there is a lack of such infrastructures, so imported gas takes mainly the form of Liquefied Natural Gas (LNG), shipped on maritime tankers. Currently, the LNG market is divided into two zones: the Atlantic Basin (Europe and US) and the Pacific Basin (Asia and the Western Coast of America). For the past few years, the Middle East and Africa have tended to be crucial suppliers for both LNG zones. Gas price formation varies deeply between regional markets, depending on several structural factors (regulation, contracting practises, existence of a spot market, liquidity, share of imports). Empirically, the degree of market opening (which corresponds to the seniority in the liberalization process) seems to be the primary determinant of pricing patterns. North America has the most liberalized and well-performing natural gas industry in the world. Gas pricing is highly competitive and is based on supply/demand balances. Spot and futures markets are developed. The British gas sector is also deregulated and thus follows a

  20. Gas Price Formation, Structure and Dynamics

    International Nuclear Information System (INIS)

    Davoust, R.

    2008-01-01

    Our study, focused on gas prices in importing economies, describes wholesale prices and retail prices, their evolution for the last one or two decades, the economic mechanisms of price formation. While an international market for oil has developed thanks to moderate storage and transportation charges, these costs are much higher in the case of natural gas, which involves that this energy is still traded inside continental markets. There are three regional gas markets around the world: North America (the United States, importing mainly from Canada and Mexico), Europe (importing mainly from Russia, Algeria and Norway) and Asia (Japan, Korea, Taiwan, China and India, importing mainly from Indonesia, Malaysia and Australia). A market for gas has also developed in South America, but it will not be covered by our paper. In Europe and the US, due to large domestic resources and strong grids, natural gas is purchased mostly through pipelines. In Northeast Asia, there is a lack of such infrastructures, so imported gas takes mainly the form of Liquefied Natural Gas (LNG), shipped on maritime tankers. Currently, the LNG market is divided into two zones: the Atlantic Basin (Europe and US) and the Pacific Basin (Asia and the Western Coast of America). For the past few years, the Middle East and Africa have tended to be crucial suppliers for both LNG zones. Gas price formation varies deeply between regional markets, depending on several structural factors (regulation, contracting practises, existence of a spot market, liquidity, share of imports). Empirically, the degree of market opening (which corresponds to the seniority in the liberalization process) seems to be the primary determinant of pricing patterns. North America has the most liberalized and well-performing natural gas industry in the world. Gas pricing is highly competitive and is based on supply/demand balances. Spot and futures markets are developed. The British gas sector is also deregulated and thus follows a

  1. Processes of Integration and Fragmentation of Economic Space: The Structure of Settlement Systems

    Directory of Open Access Journals (Sweden)

    Alexander Pavlovich Goryunov

    2017-12-01

    Full Text Available This work presents a study of processes of integration and fragmentation caused by the polarization of economic space. Under integration in economic space the authors understand the formation of new and transformation of existing settlement systems, while fragmentation is the dissolution of settlement systems and their transformation into loosely connected settlement networks. The study focuses on the structure of settlement systems. Authors propose a new method for studying the structure of settlement systems, which combines the use of factor analysis, multidimensional scaling, and cluster analysis. The proposed method utilizes the maximum of available information about the social-economic status of settlements to reveal regularities in their spatial organization. The authors test the proposed method on 35 large cities of the Central and Volga federal districts of Russia, which comprise the spatial surroundings of Moscow. The authors find four groups of cities forming the core of the settlement system centered around Moscow, a group of four cities forming a buffer zone around that system, as well as four cities in the studied sample which do not participate in the settlement system

  2. Tariff rebalancing and price structure in privatised utilities

    International Nuclear Information System (INIS)

    Weyman-Jones, T.; Burns, P.

    1996-01-01

    The document contains the end of award report on research into re-balancing and price structure in privatised utilities, funded by the Economic and Social Science Research Council (ESRC). Ramsey pricing ideas in United Kingdom utilities were modelled under different forms of regulation and cost/price relationships measured. Alternative forms of regulation that permit Ramsey pricing were also evaluated. Option price theory is shown to be central to an understanding of incentive mechanisms and their relationship to regulatory options. (UK)

  3. Pricing structures in US coal supply contracts

    Science.gov (United States)

    Kacker, Kanishka

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

  4. Geographical evaluation of the impact of nuclear power plants on settlement structures

    International Nuclear Information System (INIS)

    Divinsky, B.

    1992-01-01

    The effects of nuclear power plants are classed with respect to their character (one-sided or many-sided), order (primary or secondary), quality (positive or adverse), duration (temporary or permanent), and space (microregional or macroregional). The following topics must be included in the methodology of evaluation of the impacts of a nuclear power plant on the region: characteristics of the present settlement network, relationships within the settlement system, spatial transformation of settlements, development of urbanization, population density, town and village sizes, functional types of settlements, migration, age and social structure of the population, economic activity, town and village facilities, technical infrastructure, transport and traffic, psycho-social impacts of the occurrence of the nuclear power plant, microecology (microenvironment). (M.D.). 5 refs

  5. Coal Price Forecasting and Structural Analysis in China

    Directory of Open Access Journals (Sweden)

    Xiaopeng Guo

    2016-01-01

    Full Text Available Coal plays an important role in China’s energy structure and its price has been continuously decreasing since the second half of 2012. Constant low price of coal affected the profits of coal enterprises and the coal use of its downstream firms; the precision of coal price provides a reference for these enterprises making their management strategy. Based on the historical data of coal price and related factors such as port stocks, sales volume, futures prices, Producer Price Index (PPI, and crude oil price rate from November 2013 to June 2016, this study aims to forecast coal price using vector autoregression (VAR model and portray the dynamic correlations between coal price and variables by the impulse response function and variance decomposition. Comparing predicted and actual values, the root mean square error (RMSE was small which indicated good precision of this model. Thus this short period prediction can help these enterprises make the right business decisions.

  6. Structural behaviour of masonry arch with no-horizontal springing settlement

    Directory of Open Access Journals (Sweden)

    P. Zampieri

    2018-01-01

    Full Text Available This paper presents a calculation procedure for assessing the structural integrity of a masonry arch with non-horizontal springing settlement. By applying the Principle of Virtual Work (PVW to the deformed arch system, the procedure proposed herein details the reaction forces and thrust lines for each step of imposed settlement of the support. The procedure can also be used estimate the final displacement that causes complete failure of arch structural capacity. The results of the analysis procedure were compared against those obtained by experimental testing so as to validate the proposed calculation method

  7. The structure of settlement space in a Polynesian chiefdom; Kawela, Molokai, Hawaiian Islands

    Energy Technology Data Exchange (ETDEWEB)

    Weisler, M; Kirch, P V [Washington Univ., Seattle, WA (USA)

    1985-01-01

    A major settlement pattern study of a late prehistoric archaeological landscape on Molokaii Island, Hawaii, is summarised. The study focusses on the structure of settlement space within a 7.7 sq. km area situated along the south-central coast of Molokaii, and encompassing two traditional land units (ahupua'a), Kawela and Makakupaia Iki. Intensive survey resulted in the discovery of 499 architectural features. These features were recorded using a standardised data-base system (designed for computerised analysis using SPSS) with 37 discrete and continuous variable, including environmental data, architectural attributes, metrical data, and the presence and density of surface cultural materials. Seventy-two structural features (14 percent of the total sample) were excavated; the total excavated area of 442.5 sq. m provides the largest subsurface data base associated with an intensive settlement pattern survey in the Hawaiian Islands. The late prehistoric and largely contemporaneous nature of this sample is indicated by 13 radiocarbon age determinations, ranging from A.D. 1650-1820. The possibilities for directly applying ethnohistoric models in the analysis and interpretation of this settlement pattern are enhanced by the protohistoric age of the archaeological landscape. The structure of settlement space at Kawela and Makakupaia Iki is examined from the perspectives of several paradigms, including environmental, social, economic and semiotic. No single paradigm provides an adequate account of the variation and complexity of the settlement landscape; in consort, however, these varied perspectives contribute to an enhanced understanding of the structure of late prehistoric Hawaiian society. 45 refs; 12 figs; 3 tables.

  8. How market structure drives commodity prices

    Science.gov (United States)

    Li, Bin; Wong, K. Y. Michael; Chan, Amos H. M.; So, Tsz Yan; Heimonen, Hermanni; Wei, Junyi; Saad, David

    2017-11-01

    We introduce an agent-based model, in which agents set their prices to maximize profit. At steady state the market self-organizes into three groups: excess producers, consumers and balanced agents, with prices determined by their own resource level and a couple of macroscopic parameters that emerge naturally from the analysis, akin to mean-field parameters in statistical mechanics. When resources are scarce prices rise sharply below a turning point that marks the disappearance of excess producers. To compare the model with real empirical data, we study the relationship between commodity prices and stock-to-use ratios in a range of commodities such as agricultural products and metals. By introducing an elasticity parameter to mitigate noise and long-term changes in commodities data, we confirm the trend of rising prices, provide evidence for turning points, and indicate yield points for less essential commodities.

  9. Analysis of an underground structure settlement risk due to tunneling- A case study from Tabriz, Iran

    Directory of Open Access Journals (Sweden)

    Mohammad Javad Vahdatirad

    2010-05-01

    Full Text Available The tunnel of the Tabriz urban railway line 2 (TURL2, Iran, will pass through an underground commercial center onits way. Too little distance between the tunnel crown and the underground structure foundation will probably cause collapseor excessive settlement during the tunnel construction based on studied geotechnical conditions of the region. In this paper,a method of risk level assessment for various types of structures, such as frame and masonry structures, and various typesof foundation, such as continuous and isolated, is well defined and the risk level is classified. Moreover, the value of theunderground commercial center structure settlement is estimated using both empirical and numerical methods. The settlementrisk level of the commercial center structure is determined based on presented definitions about risk classification ofvarious types of structures. Consequently, tunneling processes in this section need a special monitoring system and consolidationmeasures before the passage of a tunnel boring machine.

  10. 20 CFR 30.607 - How is a structured settlement (that is, a settlement providing for receipt of funds over a...

    Science.gov (United States)

    2010-04-01

    ... recovery? In this situation, the recovery to be reported is the present value of the right to receive all... 20 Employees' Benefits 1 2010-04-01 2010-04-01 false How is a structured settlement (that is, a... the recovery? 30.607 Section 30.607 Employees' Benefits OFFICE OF WORKERS' COMPENSATION PROGRAMS...

  11. Characterization and anti-settlement aspects of surface micro-structures from Cancer pagurus

    International Nuclear Information System (INIS)

    Sullivan, T; Regan, F; McGuinness, K; Connor, N E O’

    2014-01-01

    Tuning surface and material properties to inhibit or prevent settlement and attachment of microorganisms is of interest for applications such as antifouling technologies. Here, optimization of nano- and microscale structures on immersed surfaces can be utilized to improve cell removal while reducing adhesion strength and the likelihood of initial cellular attachment. Engineered surfaces capable of controlling cellular behaviour under natural conditions are challenging to design due to the diversity of attaching cell types in environments such as marine waters, where many variations in cell shape, size and adhesion strategy exist. Nevertheless, understanding interactions between a cell and a potential substrate for adhesion, including topographically driven settlement cues, offers a route to designing surfaces capable of controlling cell settlement. Biomimetic design of artificial surfaces, based upon microscale features from natural surfaces, can be utilized as model surfaces to understand cell–surface interactions. The microscale surface features of the carapace from the crustacean Cancer pagurus has been previously found to influence the rate of attachment of particular organisms when compared to smooth controls. However, the nature of microscale topographic features from C. pagurus have not been examined in sufficient detail to allow design of biomimetic surfaces. In this work, the spatial distribution, chemical composition, size and shape descriptors of microscale surface features from C. pagurus are characterized in detail for the first time. Additionally, the influence of topography from C. pagurus on the settlement of marine diatoms is examined under field conditions. (paper)

  12. The Alarcos settlement (Ciudad Real in the early first millennium BC: Structures and ceramics

    Directory of Open Access Journals (Sweden)

    M.ª del Rosario García Huerta

    2017-07-01

    Full Text Available The final Bronze Age and Early Iron Age of the south-western Meseta were insufficiently documented to be properly characterized until the final years of the 20th century. However, recent work at settlements such as Alarcos (Ciudad Real has obtained valuable information about the habitat structures and a large amount of well contextualized archaeological material (mainly pottery painted after firing. These are carefully-made tablewares whose decoration indicates a selective adoption of fashions and customs of Tartessian inspiration (e.g., Carambolo type and burnished-lattice ceramics as consequence of commercial exchanges. This new data is helping us achieve a better understanding of the new settlement patterns that started to appear at that time in the middle valley of the Guadiana river and shows the dynamism of the communities located there.

  13. Establishing a pricing structure for software products : Case study: Viope Solutions Oy

    OpenAIRE

    Nguyen, Tram

    2013-01-01

    This thesis is a case study that explores how to establish a pricing structure for software products. The objective is to provide a guideline to establish a pricing structure for Viope Solutions Oy. A new pricing structure is crucial for the company due to recent changes in its business such as internationalisation and new product launches. The literature review introduces five attributes of a pricing structure. They are the unit definition, price determination, price segmentation, versio...

  14. Improved structural pricing model for the fair market price of Sukuk Ijarah in Indonesia

    Science.gov (United States)

    Rosadi, D.; Muslim

    2017-12-01

    Shariah financial products are currently developing in Indonesia financial market. One of the most important products is called as Sukuk which is commonly referred to as "sharia compliant" bonds. The type of Sukuk that have been widely traded in Indonesia until now are Sukuk Ijarah and Sukuk Mudharabah. In [1], we discuss various models for the price of the fixed-non-callable Sukuk Ijarah and provide the empirical studies using data from Indonesia Bonds market. We found that the structural model considered in [1] cannot model the market price empirically well. In this paper, we consider the improved model and show that it performs well for modelling the fair market price of Sukuk Ijarah.

  15. Hierarchical structure of stock price fluctuations in financial markets

    International Nuclear Information System (INIS)

    Gao, Ya-Chun; Cai, Shi-Min; Wang, Bing-Hong

    2012-01-01

    The financial market and turbulence have been broadly compared on account of the same quantitative methods and several common stylized facts they share. In this paper, the She–Leveque (SL) hierarchy, proposed to explain the anomalous scaling exponents deviating from Kolmogorov monofractal scaling of the velocity fluctuation in fluid turbulence, is applied to study and quantify the hierarchical structure of stock price fluctuations in financial markets. We therefore observed certain interesting results: (i) the hierarchical structure related to multifractal scaling generally presents in all the stock price fluctuations we investigated. (ii) The quantitatively statistical parameters that describe SL hierarchy are different between developed financial markets and emerging ones, distinctively. (iii) For the high-frequency stock price fluctuation, the hierarchical structure varies with different time periods. All these results provide a novel analogy in turbulence and financial market dynamics and an insight to deeply understand multifractality in financial markets. (paper)

  16. Rural settlements transition (RST) in a suburban area of metropolis: Internal structure perspectives.

    Science.gov (United States)

    Ma, Wenqiu; Jiang, Guanghui; Wang, Deqi; Li, Wenqing; Guo, Hongquan; Zheng, Qiuyue

    2018-02-15

    Rural settlements transition (RST) is one of the most significant indices for understanding the phenomena of rural reconstruction and urban-rural transformation in China. However, a systematic overview of RST is missing, and there is a lack of evidence regarding its characteristics from the internal structure perspectives. In this paper, we systematically explore the RST regarding spatio-temporal change characteristics of internal structure, patterns and impacts on rural environment and development by using practical survey internal land-use data from 2005 to 2015. The results show that the temporal change characteristics of the internal structure of rural settlements demonstrate a tendency for housing land to decrease and other land-use types to increase. The spatial change characteristics reveal that the structure inclines to more complexity and diversity from an exurban area to an urban-rural fringe area. Based on this finding, we identify that rapid development of rural industrialization, more agglomerate and effective industrial land-use, and improved public infrastructure construction are the general RST patterns. Spatially, there exists a physical decay pattern in the exurban area, thereby resulting in the hollowing-out of rural industries and of the population. In addition, the extensive and disorderly pattern in the suburban area causes low efficiency output and serious environmental pollution. The RST pattern in the urban hinterland promoted the "men-environment" compatible development. The study concludes that regional differentiation in patterns and impacts are significant in the process of RST. Future adaptive strategies for rural settlements adjustment should be conducted according to regional characteristics, including socio-economic status, physical geography condition and economic location to improve the rural environmental sustainability. Copyright © 2017 Elsevier B.V. All rights reserved.

  17. Market Structure and Price Transmission of Eggs Commodity

    Directory of Open Access Journals (Sweden)

    Abdul Aziz Ahmad

    2016-10-01

    Full Text Available Purposes of this research are to determine some characteristics of distribution channel, market structure, and price maker transmission in purebred chicken egg commodity in Banyumas District, Central Java Province. Primary data applied on this research is from all channel distribution levels; from producers to final consumers. Meanwhile secondary data is collected from government official sources, such as BPS-Statistic of Banyumas Disrict, Banyumas Department of Industry, Trading and Cooperation, and previous researches which has been made by researcher team. Sample determining is directed by proportional random sampling methods. Some measurements are applied to this research, including to; Herfindahl Index (HI, Concentration Ratio (CF, and Minimum Efficiency Scale (MES to investigate market structure; and Asymmetric Price Transmission (APT to determine price transmission mechanism model. This research finds that (1 the distribution channel of egg commodity is spitted to different channel, the first channel: egg producer – retail traders – final consumers, and second channel: egg producers – whole seller – retail traders – final consumers; (2 market structure which is created to this farming specific commodity is perfect market; (3 price transmission mechanism analysis statistically shows that there is almost no existence of dominant power in price formation.

  18. The Weekly Structure of US Stock Prices

    OpenAIRE

    Guglielmo Maria Caporale; Luis A. Gil-Alana

    2010-01-01

    In this paper we use fractional integration techniques to examine the degree of integration of four US stock market indices, namely the Standard and Poor, Dow Jones, Nasdaq and NYSE, at a daily frequency from January 2005 till December 2009. We analyse the weekly structure of the series and investigate their characteristics depending on the specific day of the week. The results indicate that the four series are highly persistent; a small degree of mean reversion (i.e., orders of integration s...

  19. Reconstruction of settlement phases at Intermediate Bronze Age structures in the Negev Highlands (Israel) using luminescence dating

    Science.gov (United States)

    Junge, Andrea; Lomax, Johanna; Shahack-Gross, Ruth; Dunseth, Zachary C.; Finkelstein, Israel; Fuchs, Markus

    2016-04-01

    OSL dating is usually applied to sediments in paleoenvironmental sciences. However, there is only limited experience with determining the age of archaeological stone structures by OSL using dust deposits associated with these structures. The age of trapped dust deposits may be used to date the onset of settlement (sediment below structures), settlement activity (occupation layer), or the time after settlement (sediment between collapsed walls and roofs). In this study, OSL dating is applied for establishing a chronology of settlement structures situated in the Negev Highlands, Israel. Two archaeological sites are investigated to identify the occupation history, by dating the aeolian dust trapped within the remains of ancient buildings. OSL dating techniques are applied using coarse grain quartz and a standard SAR protocol. First results indicate that the luminescence properties of the trapped sediments are suitable for OSL dating. Therefore, it was possible to date the onset of sedimentation in a later phase of the human occupation or shortly after the settlement was abandoned, which is supported by archaeological evidence gained from pottery finds and the architecture of the buildings.

  20. Estimating Structural Models of Corporate Bond Prices in Indonesian Corporations

    Directory of Open Access Journals (Sweden)

    Lenny Suardi

    2014-08-01

    Full Text Available This  paper  applies  the  maximum  likelihood  (ML  approaches  to  implementing  the structural  model  of  corporate  bond,  as  suggested  by  Li  and  Wong  (2008,  in  Indonesian corporations.  Two  structural  models,  extended  Merton  and  Longstaff  &  Schwartz  (LS models,  are  used  in  determining  these  prices,  yields,  yield  spreads  and  probabilities  of default. ML estimation is used to determine the volatility of irm value. Since irm value is unobserved variable, Duan (1994 suggested that the irst step of ML estimation is to derive the likelihood function for equity as the option on the irm value. The second step is to ind parameters such as the drift and volatility of irm value, that maximizing this function. The irm value itself is extracted by equating the pricing formula to the observed equity prices. Equity,  total  liabilities,  bond  prices  data  and  the  irm's  parameters  (irm  value,  volatility of irm value, and default barrier are substituted to extended Merton and LS bond pricing formula in order to valuate the corporate bond.These models are implemented to a sample of 24 bond prices in Indonesian corporation during  period  of  2001-2005,  based  on  criteria  of  Eom,  Helwege  and  Huang  (2004.  The equity  and  bond  prices  data  were  obtained  from  Indonesia  Stock  Exchange  for  irms  that issued equity and provided regular inancial statement within this period. The result shows that both models, in average, underestimate the bond prices and overestimate the yields and yield spread. ";} // -->activate javascript

  1. A Hierarchical Dispatch Structure for Distribution Network Pricing

    OpenAIRE

    Yuan, Zhao; Hesamzadeh, Mohammad Reza

    2015-01-01

    This paper presents a hierarchical dispatch structure for efficient distribution network pricing. The dispatch coordination problem in the context of hierarchical network operators are addressed. We formulate decentralized generation dispatch into a bilevel optimization problem in which main network operator and the connected distribution network operator optimize their costs in two levels. By using Karush-Kuhn-Tucker conditions and Fortuny-Amat McCarl linearization, the bilevel optimization ...

  2. Analysis of transmission elasticity of international prices for sugar prices in Brazil: an application of the Structural Model

    Directory of Open Access Journals (Sweden)

    Mario Antonio Margarido

    2018-01-01

    Full Text Available This study aims to determine and analyze the spatial elasticity (or horizontal of price transmission between international sugar prices and the average price received by the Brazilian exporter of sugar, using the Structural Model. The data used are from January/2004 to November/2015. As a result, variations of 1% in the international sugar price are transmitted to the average price received by Brazilian sugar exporters with a magnitude of 0.3% on average, setting inelastic relationship between the two variables and, consequently, the non-occurrence of the law of one price. So, there are mechanisms in this market that are hindering the full functioning of the arbitration. This situation is not unusual, because the sugar is one of the most commercially protected product and suffer much interference.

  3. Remote Sensing-Based Characterization of Settlement Structures for Assessing Local Potential of District Heat

    Directory of Open Access Journals (Sweden)

    Michael Nast

    2011-07-01

    Full Text Available In Europe, heating of houses and commercial areas is one of the major contributors to greenhouse gas emissions. When considering the drastic impact of an increasing emission of greenhouse gases as well as the finiteness of fossil resources, the usage of efficient and renewable energy generation technologies has to be increased. In this context, small-scale heating networks are an important technical component, which enable the efficient and sustainable usage of various heat generation technologies. This paper investigates how the potential of district heating for different settlement structures can be assessed. In particular, we analyze in which way remote sensing and GIS data can assist the planning of optimized heat allocation systems. In order to identify the best suited locations, a spatial model is defined to assess the potential for small district heating networks. Within the spatial model, the local heat demand and the economic costs of the necessary heat allocation infrastructure are compared. Therefore, a first and major step is the detailed characterization of the settlement structure by means of remote sensing data. The method is developed on the basis of a test area in the town of Oberhaching in the South of Germany. The results are validated through detailed in situ data sets and demonstrate that the model facilitates both the calculation of the required input parameters and an accurate assessment of the district heating potential. The described method can be transferred to other investigation areas with a larger spatial extent. The study underlines the range of applications for remote sensing-based analyses with respect to energy-related planning issues.

  4. Do structural oil-market shocks affect stock prices?

    International Nuclear Information System (INIS)

    Apergis, Nicholas; Miller, Stephen M.

    2009-01-01

    This paper investigates how explicit structural shocks that characterize the endogenous character of oil price changes affect stock-market returns in a sample of eight countries - Australia, Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. For each country, the analysis proceeds in two steps. First, modifying the procedure of Kilian [Not All Oil Price Shocks are Alike: Disentangling Demand and Supply Shocks in the Crude Oil Market. American Economic Review.], we employ a vector error-correction or vector autoregressive model to decompose oil-price changes into three components: oil-supply shocks, global aggregate-demand shocks, and global oil-demand shocks. The last component relates to specific idiosyncratic features of the oil market, such as changes in the precautionary demand concerning the uncertainty about the availability of future oil supplies. Second, recovering the oil-supply shocks, global aggregate-demand shocks, and global oil-demand shocks from the first analysis, we then employ a vector autoregressive model to determine the effects of these structural shocks on the stock market returns in our sample of eight countries. We find that international stock market returns do not respond in a large way to oil market shocks. That is, the significant effects that exist prove small in magnitude. (author)

  5. EFFECTIVE ANNUAL INTEREST SIGNIFIANCE ON BANKING PRODUCTS PRICE STRUCTURE

    Directory of Open Access Journals (Sweden)

    Medar Lucian-Ion

    2011-06-01

    Full Text Available The importance of the products and services prices can be found in the reference price, that customer must compare it with the price of the last made acquisition. The price of the banking product, that includes the effective annual intrest rate (EAI, is a guide price including all the cost elements related to banking products and services. The price of the products promoted through lending activities, is affected by the exchange rate of national and foreign currency, available on the money market. The role of the banking fee is very important in the specific services and bank products price formation.

  6. Price

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

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

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

    NARCIS (Netherlands)

    Setiawan, M.

    2012-01-01

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

  8. Jump dynamics with structural breaks for crude oil prices

    International Nuclear Information System (INIS)

    Lee, Yen-Hsien; Hu, Hsu-Ning; Chiou, Jer-Shiou

    2010-01-01

    This study investigates the joint phenomena of permanent and transitory components in conditional variance and jump intensity along with verification of structural breaks for crude oil prices. We adopt a Component-ARJI model with structural break analysis, utilizing daily data on West Texas Intermediate crude oil spot and futures contracts. The analytical results verify the existence of permanent and transitory components in conditional variance, with the permanent component of conditional variance increasing with the occurrence of a sudden major event (such as the Iraqi Invasion of Kuwait, Operation Desert Storm and the war between the US and Iraq), and a relatively greater increase in the transitory component over the same period. Notably, jump intensity fluctuates with an increase in the transitory component of conditional variance in response to abnormal events. It is the transitory component which serves as the primary influential factor for jumps in returns; therefore, speculators are willing to take large risks, particularly with respect to anticipating future price movements, or gambling, in the hopes of rapidly making substantial gains; thus, speculators prefer the temporary volatility component and engage in trade activities. However, investors prefer the permanent volatility component, because they may well be better off relocating their assets into more stable portfolios to outperform the market portfolio over the long run. (author)

  9. Jump dynamics with structural breaks for crude oil prices

    Energy Technology Data Exchange (ETDEWEB)

    Lee, Yen-Hsien [Department of Finance, Chung Yuan Christian University (China); Hu, Hsu-Ning [Department of Money, Banking and Finance, TamKang University (China); Chiou, Jer-Shiou [Department of Finance and Banking, Shih Chien University, 70 Ta-Chih Street, Taipei 104 (China)

    2010-03-15

    This study investigates the joint phenomena of permanent and transitory components in conditional variance and jump intensity along with verification of structural breaks for crude oil prices. We adopt a Component-ARJI model with structural break analysis, utilizing daily data on West Texas Intermediate crude oil spot and futures contracts. The analytical results verify the existence of permanent and transitory components in conditional variance, with the permanent component of conditional variance increasing with the occurrence of a sudden major event (such as the Iraqi Invasion of Kuwait, Operation Desert Storm and the war between the US and Iraq), and a relatively greater increase in the transitory component over the same period. Notably, jump intensity fluctuates with an increase in the transitory component of conditional variance in response to abnormal events. It is the transitory component which serves as the primary influential factor for jumps in returns; therefore, speculators are willing to take large risks, particularly with respect to anticipating future price movements, or gambling, in the hopes of rapidly making substantial gains; thus, speculators prefer the temporary volatility component and engage in trade activities. However, investors prefer the permanent volatility component, because they may well be better off relocating their assets into more stable portfolios to outperform the market portfolio over the long run. (author)

  10. TOWARDS CONSISTENT MAPPING OF URBAN STRUCTURES – GLOBAL HUMAN SETTLEMENT LAYER AND LOCAL CLIMATE ZONES

    Directory of Open Access Journals (Sweden)

    B. Bechtel

    2016-06-01

    Full Text Available Although more than half of the Earth’s population live in urban areas, we know remarkably little about most cities and what we do know is incomplete (lack of coverage and inconsistent (varying definitions and scale. While there have been considerable advances in the derivation of a global urban mask using satellite information, the complexity of urban structures, the heterogeneity of materials, and the multiplicity of spectral properties have impeded the derivation of universal urban structural types (UST. Further, the variety of UST typologies severely limits the comparability of such studies and although a common and generic description of urban structures is an essential requirement for the universal mapping of urban structures, such a standard scheme is still lacking. More recently, there have been two developments in urban mapping that have the potential for providing a standard approach: the Local Climate Zone (LCZ scheme (used by the World Urban Database and Access Portal Tools project and the Global Human Settlement Layer (GHSL methodology by JRC. In this paper the LCZ scheme and the GHSL LABEL product were compared for selected cities. The comparison between both datasets revealed a good agreement at city and coarse scale, while the contingency at pixel scale was limited due to the mismatch in grid resolution and typology. At a 1 km scale, built-up as well as open and compact classes showed very good agreement in terms of correlation coefficient and mean absolute distance, spatial pattern, and radial distribution as a function of distance from town, which indicates that a decomposition relevant for modelling applications could be derived from both. On the other hand, specific problems were found for both datasets, which are discussed along with their general advantages and disadvantages as a standard for UST classification in urban remote sensing.

  11. Market structure and price adjustment in the U.S. wholesale gasoline markets

    International Nuclear Information System (INIS)

    Oladunjoye, Olusegun

    2008-01-01

    The issue of sticky prices in U.S. wholesale gasoline market is re-examined allowing for the effect of market structure due to increased market concentration caused by mergers, acquisitions and joint ventures which started in the late 1990s in the U.S. oil industry. I investigate the effects of market structure on the pattern of price adjustment based on the notion that increased market concentration leads to downward price stickiness and asymmetric short run price adjustment in the transmission of crude price changes to wholesale gasoline price. I find that market concentration has an insignificant asymmetric effect on the speed of price adjustment but a significant asymmetric effect on short run price adjustments in the response of wholesale gasoline prices to crude price shocks in three U.S. wholesale markets. Furthermore, the signs on the coefficients of market concentration effects on price dynamics in the models support the assertion that increased market concentration leads to downward price stickiness in only one of the three markets examined. Overall, the results indicate that market structure does not have a strong effect on the dynamics of price adjustment. (author)

  12. The Minimum Wage, Restaurant Prices, and Labor Market Structure

    Science.gov (United States)

    Aaronson, Daniel; French, Eric; MacDonald, James

    2008-01-01

    Using store-level and aggregated Consumer Price Index data, we show that restaurant prices rise in response to minimum wage increases under several sources of identifying variation. We introduce a general model of employment determination that implies minimum wage hikes cause prices to rise in competitive labor markets but potentially fall in…

  13. The Performance of Multi-Factor Term Structure Models for Pricing and Hedging Caps and Swaptions

    NARCIS (Netherlands)

    Driessen, J.J.A.G.; Klaassen, P.; Melenberg, B.

    2000-01-01

    In this paper we empirically compare different term structure models when it comes to the pricing and hedging of caps and swaptions.We analyze the influence of the number of factors on the pricing and hedging results, and investigate which type of data -interest rate data or derivative price data-

  14. The association between tax structure and cigarette price variability: findings from the ITC Project.

    Science.gov (United States)

    Shang, Ce; Chaloupka, Frank J; Fong, Geoffrey T; Thompson, Mary; O'Connor, Richard J

    2015-07-01

    Recent studies have shown that more opportunities exist for tax avoidance when cigarette excise tax structure departs from a uniform specific structure. However, the association between tax structure and cigarette price variability has not been thoroughly studied in the existing literature. To examine how cigarette tax structure is associated with price variability. The variability of self-reported prices is measured using the ratios of differences between higher and lower prices to the median price such as the IQR-to-median ratio. We used survey data taken from the International Tobacco Control Policy Evaluation (ITC) Project in 17 countries to conduct the analysis. Cigarette prices were derived using individual purchase information and aggregated to price variability measures for each surveyed country and wave. The effect of tax structures on price variability was estimated using Generalised Estimating Equations after adjusting for year and country attributes. Our study provides empirical evidence of a relationship between tax structure and cigarette price variability. We find that, compared to the specific uniform tax structure, mixed uniform and tiered (specific, ad valorem or mixed) structures are associated with greater price variability (p≤0.01). Moreover, while a greater share of the specific component in total excise taxes is associated with lower price variability (p≤0.05), a tiered tax structure is associated with greater price variability (p≤0.01). The results suggest that a uniform and specific tax structure is the most effective tax structure for reducing tobacco consumption and prevalence by limiting price variability and decreasing opportunities for tax avoidance. 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.

  15. Trade between the EU and Israeli Settlements: How Technical Arrangements add to Structural Injustice in the Supply Chain

    Directory of Open Access Journals (Sweden)

    Anas Audeh

    2018-04-01

    Full Text Available More than two decades ago, the EU upgraded its preferential trade with Israel. Many EU member states and European multinational companies violate the European Commission’s mandatory directives on excluding the Israeli settlements’ economy from the preferential treatment of free customs duties. This article argues that the settlements’ economy is correlated to a structural injustice in the supply chain, through the imposition of a coercive environment in the Occupied Palestinian Territories. Many European multinational companies trade in Israeli settlements and partially contribute to the structural injustice. The European Commission tackles the structural injustice by a framework of technical arrangements, but such a framework is unsuccessful due to the thoughtlessness and bad faith expressed by those actors linked to enterprises in the settlements, and due to the lack of normative standards and an operational framework of responsibility. This article challenges the longstanding argument in literature that the problem in the EU-Israeli settlements trade is not only a mere territorial and border dispute, using a mixed method of quantitative datasets and discourse analysis.

  16. Stone column settlement performance in structured anisotropic clays: the influence of creep

    Directory of Open Access Journals (Sweden)

    Brian G. Sexton

    2016-10-01

    Full Text Available The recently developed elasto-viscoplastic Creep-SCLAY1S model has been used in conjunction with PLAXIS 2D to investigate the effectiveness of vibro-replacement in a creep-prone clay. The Creep-SCLAY1S model accounts for anisotropy, bonding, and destructuration, and uses the concept of a constant rate of viscoplastic multiplier to calculate creep strain rate. A comparison of settlement improvement factors with and without creep indicates that ‘total’ settlement improvement factors (primary plus creep are lower than their ‘primary’ counterparts (primary settlement only. The lowest settlement improvement factors arise for analyses incorporating the effect of bonding and destructuration. Examination of the variations of vertical stress with time and depth has indicated that vertical stress is transferred from the soil to the column as the soil creeps. This results in additional column yielding. In addition, the radial and hoop stresses in the soil are lower for the ‘creep’ case. The reduced radial stresses lead to additional column bulging and hence more settlement, whereas the hoop stress reductions appear to be a secondary effect, caused by additional plastic deformation for the ‘creep’ case.

  17. Structural and behavioural foundations of competitive electricity prices

    International Nuclear Information System (INIS)

    Bunn, D.W.

    2004-01-01

    This chapter presents a basic introduction to price formation in the new electricity markets and examines power system economics and electricity market liberalisation. Topics discussed include wholesale electricity prices, the case of gas, the effect of the instantaneous nature of the electricity product, spot markets for electricity, and the ability of industrial companies to influence prices. Market fundamentals are reviewed, and institutional reform and strategic evolution are explored. British daily average power and gas prices, monthly forward prices on the British power and gas markets, seasonal demand profile, electricity demand UK 98/00, annual cost of each plant, price formation in 1997, and monthly demand and wholesale prices in England and Wales 1990-1998 are among the graphs provided

  18. Dynamical behavior of price forecasting in structures of group correlations

    Science.gov (United States)

    Lim, Kyuseong; Kim, Soo Yong; Kim, Kyungsik

    2015-07-01

    We investigate the prediction of the future prices from the structures and the networks of the companies in special financial groups. After the financial group network has been constructed from the value of the high cross-correlation, each company in a group is simulated and analyzed how it buys or sells stock is anaylzed and how it makes rational investments is forecasted. In the shortmemory behavior rather than the long-memory behavior, each company among a group can make a rational investment decision by using a stochastic evolution rule in the financial network. In particular, we simulate and analyze the investment situation in connection with the empirical data and the simulated result.

  19. International crude oil prices and the stock prices of clean energy and technology companies: Evidence from non-linear cointegration tests with unknown structural breaks

    International Nuclear Information System (INIS)

    Bondia, Ripsy; Ghosh, Sajal; Kanjilal, Kakali

    2016-01-01

    Increasing greenhouse gas emissions, exhaustibility and geo-politics induced price volatility of crude oil has magnified the importance of looking for alternative sources of energy. In this paper, we investigate the long term relationship of stock prices of alternative energy companies with oil prices in a multivariate framework. To this end, we use threshold cointegration tests, which endogenously incorporate possible regime shifts in long run relationship of underlying variables. In contrast to the findings of the previous study by Managi and Okimoto (2013), our results indicate presence of cointegration among the variables with two endogenous structural breaks. This study confirms that ignoring the presence of structural breaks in a long time series data, as has been done in previous study, can produce misleading results. In terms of causality, while the stock prices of alternative energy companies are impacted by technology stock prices, oil prices and interest rates in the short run, there is no causality running towards prices of alternative energy stock prices in the long run. The study discusses the possible reasons behind the empirical findings and concludes with a discussion on short run and long run investment opportunities for the investors. - Highlights: • Cointegration between alternative energy companies stock price and oil price. • Threshold cointegration tests are employed. • Cointegration among the variables exists with two endogenous structural breaks. • Alternative energy companies stock price impacted by oil prices in short run. • No causality running towards prices of alternative energy stock prices in long run.

  20. Full-scale experimental and numerical study about structural behaviour of a thin-walled cold-formed steel building affected by ground settlements due to land subsidence

    Directory of Open Access Journals (Sweden)

    J. A. Ortiz

    2015-11-01

    Full Text Available Land subsidence due to ground water withdrawal is a problem in many places around the world (Poland, 1984. This causes differential ground settlements that affect masonry structures, because these structural materials do not exhibit an adequate performance beyond a certain level of angular distortion. This work presents the experimental and numerical results about a study regarding the performance of a full-scale thin-walled cold-formed steel building affected by ground differential settlements due to land subsidence. The experimental stage consisted in the construction of a test-building to be subjected to differential settlements in laboratory. The numerical stage consisted in performing a numerical non-linear static pull-down analysis simulating the differential ground settlements of the test-building. The results show that the structural performance of the tested building was very suitable in terms of ductility.

  1. Projected Eastern Slovakia nuclear power plant and its effect on the area settlement structure

    International Nuclear Information System (INIS)

    Uvirova, E.

    1986-01-01

    The current situation of and expected changes in the settlement of the Kecerovce locality, where the Eastern Slovakia nuclear power plant will be sited, are discussed. The estimated requisition of agricultural soil and of forests is considered and the questions are outlined of the resettlement of the population in the power plant protective zone. (M.D.). 6 tabs., 4 refs

  2. Measuring Risk Structure Using the Capital Asset Pricing Model

    Directory of Open Access Journals (Sweden)

    Zdeněk Konečný

    2015-01-01

    Full Text Available This article is aimed at proposing of an inovative method for calculating the shares of operational and financial risks. This methodological tool will support managers while monitoring the risk structure. The method is based on the capital asset pricing model (CAPM for calculation of equity cost, namely on determination of the beta coefficient, which is the only variable, that is dependent on entrepreneurial risk. There are combined both alternative approaches for calculation betas, which means, that there are accounting data used and there is distinguished unlevered beta and levered beta. The novelty of the proposed method is based on including of quantities for measuring operational and financial risks in beta calculation. The volatility of cash flow, as a quantity for measuring of operational risk, is included in the unlevered beta. Return on equity based on the cash flow and the indebtedness are variables used in calculation of the levered beta. This modification makes it possible to calculate the share of operational risk as the proportion of the unlevered/levered beta and the share of financial risk, which is the remainder of levered beta. The modified method is applied on companies from two sectors of the Czech economy. In the data set there are companies from one cyclical sector and from one neutral sector to find out potential differences in the risk structure. The findings show, that in both sectors the share of operational risk is over 50%, however, in the neutral sector is this more dominant.

  3. "Choice" and destiny: the substrate composition and mechanical stability of settlement structures can mediate coral recruit fate in post-bleached reefs

    Science.gov (United States)

    Yadav, Shreya; Rathod, Pooja; Alcoverro, Teresa; Arthur, Rohan

    2016-03-01

    Increasingly frequent and intense ocean warming events seriously test the buffer and recovery capacities of tropical coral reefs. Post-disturbance, available settlement structures on a reef (often dead coral skeletons) vary considerably in their mechanical stability and substrate composition, critically influencing coral recruit settlement choice and fate. In the wake of a coral mass mortality in the Lakshadweep archipelago, we examine (1) the relative availability of recruit settlement structures (from stable to unstable: reef platform, dead massive coral, consolidated rubble, dead corymbose coral, dead tabular coral, and unconsolidated rubble) in 12 recovering reefs across three atolls in the archipelago, (2) the substrate composition [crustose coralline algae (CCA), mixed turf, macroalgae] of these structural forms, and (3) whether the choice and fate of young coral are mediated by the substrate and stability of different structural forms. For this, we measured the abundance and distribution of recruit (<1 cm), juvenile (1-5 cm), and young adult (5-10) corals of 24 common coral genera. Four years after the mass mortality, reefs differed considerably in composition of settlement structures. The structures themselves varied significantly in substrate cover with dead tables largely covered in CCA [60 ± 6.05 % (SE)] and dead corymbose coral dominated by mixed turf (61.83 ± 3.8 %). The youngest visible recruits (<1 cm) clearly preferred CCA-rich structures such as dead massives and tables. However, older size classes were rarely found on unstable structures (strongly "avoiding" tables, Ivlev's electivity index, E = -0.5). Our results indicate that while substrate cover might mediate coral choice, the mechanical stability of settlement structures is critical in determining post-settlement coral survival. The composition and availability of settlement structures on a reef may serve as a characteristic signature of its recovery potential, aiding in assessments of reef

  4. 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

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

    Energy Technology Data Exchange (ETDEWEB)

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

    2009-04-15

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

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

    International Nuclear Information System (INIS)

    Lee, Chien-Chiang; Lee, Jun-De

    2009-01-01

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

  7. An evaluation of the transitional Turkish electricity balancing and settlement market: Lessons for the future

    International Nuclear Information System (INIS)

    Camadan, Ercuement; Erten, Ibrahim Etem

    2011-01-01

    Balancing and settlement market is a crucial part of restructured Turkish electricity market. In this framework, the main purpose of this study is to examine whether the prices constituted in the transitional balancing and settlement market reflect the real cost of imbalances. Although it is observed that the prices are not powerful in indicating the real cost of imbalances, Turkey has the opportunity to form a well-functioning market within the context of planned new market structure. Turkey needs to define a proper roadmap reckoning the points mentioned in this paper to be able to achieve her objectives. (author)

  8. Using time series structural characteristics to analyze grain prices in food insecure countries

    Science.gov (United States)

    Davenport, Frank; Funk, Chris

    2015-01-01

    Two components of food security monitoring are accurate forecasts of local grain prices and the ability to identify unusual price behavior. We evaluated a method that can both facilitate forecasts of cross-country grain price data and identify dissimilarities in price behavior across multiple markets. This method, characteristic based clustering (CBC), identifies similarities in multiple time series based on structural characteristics in the data. Here, we conducted a simulation experiment to determine if CBC can be used to improve the accuracy of maize price forecasts. We then compared forecast accuracies among clustered and non-clustered price series over a rolling time horizon. We found that the accuracy of forecasts on clusters of time series were equal to or worse than forecasts based on individual time series. However, in the following experiment we found that CBC was still useful for price analysis. We used the clusters to explore the similarity of price behavior among Kenyan maize markets. We found that price behavior in the isolated markets of Mandera and Marsabit has become increasingly dissimilar from markets in other Kenyan cities, and that these dissimilarities could not be explained solely by geographic distance. The structural isolation of Mandera and Marsabit that we find in this paper is supported by field studies on food security and market integration in Kenya. Our results suggest that a market with a unique price series (as measured by structural characteristics that differ from neighboring markets) may lack market integration and food security.

  9. Germanic Settlement Structure in the Middle Danube Region as a Complex System of Agent-Based Modeling

    Czech Academy of Sciences Publication Activity Database

    Vlach, Marek

    2015-01-01

    Roč. 42, č. 1 (2015), s. 741-748 ISSN 0323-9535. [International Congress of Roman Frontier Studies /22./. Ruse, 06.09.2012-11.09.2012] R&D Projects: GA ČR GA404/09/1054 Grant - others:Rada Programu interní podpory projektů mezinárodní spolupráce AV ČR(CZ) M300011201 Program:M Institutional support: RVO:68081758 Keywords : Roman period * Middle Danube region * Germanic settlement structure * Agent Based Modeling * archaeological demography Subject RIV: AC - Archeology, Anthropology, Ethnology

  10. Dynamic Pricing in Cloud Manufacturing Systems under Combined Effects of Consumer Structure, Negotiation, and Demand

    Directory of Open Access Journals (Sweden)

    Wei Peng

    2017-01-01

    Full Text Available In this study, we proposed a game-theory based framework to model the dynamic pricing process in the cloud manufacturing (CMfg system. We considered a service provider (SP, a broker agent (BA, and a dynamic service demander (SD population that is composed of price takers and bargainers in this study. The pricing processes under linear demand and constant elasticity demand were modeled, respectively. The combined effects of SD population structure, negotiation, and demand forms on the SP’s and the BA’s equilibrium prices and expected revenues were examined. We found that the SP’s optimal wholesale price, the BA’s optimal reservation price, and posted price all increase with the proportion of price takers under linear demand but decrease with it under constant elasticity demand. We also found that the BA’s optimal reservation price increases with bargainers’ power no matter under what kind of demand. Through analyzing the participants’ revenues, we showed that a dynamic SD population with a high ratio of price takers would benefit the SP and the BA.

  11. Price-Cost Ratios in Higher Education: Subsidy Structure and Policy Implications

    Science.gov (United States)

    Xie, Yan

    2010-01-01

    The diversity of US institutions of higher education is manifested in many ways. This study looks at that diversity from the economic perspective by studying the subsidy structure through the distribution of institutional price-cost ratio (PCR), defined as the sum of net tuition price divided by total supplier cost and equals to one minus…

  12. The performance of multi-factor term structure models for pricing and hedging caps and swaptions

    NARCIS (Netherlands)

    Driessen, J.J.A.G.; Klaassen, P.; Melenberg, B.

    2000-01-01

    In this paper we empirically compare a wide range of different term structure models when it comes to the pricing and, in particular, hedging of caps and swaptions. We analyze the influence of the number of factors on the hedging and pricing results, and investigate which type of data "interest rate

  13. On the Information in the Interest Rate Term Structure and Option Prices

    NARCIS (Netherlands)

    de Jong, F.; Driessen, J.; Pelsser, A.

    2004-01-01

    We examine whether the information in cap and swaption prices is consistent with realized movements of the interest rate term structure. To extract an option-implied interest rate covariance matrix from cap and swaption prices, we use Libor market models as a modelling framework. We propose a

  14. Deconstructing Solar Photovoltaic Pricing: The Role of Market Structure, Technology, and Policy

    Energy Technology Data Exchange (ETDEWEB)

    Gillingham, Kenneth [Yale Univ., New Haven, CT (United States); Deng, Hao [Yale Univ., New Haven, CT (United States); Wiser, Ryan [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Darghouth, Naim [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Nemet, Gregory [Univ. of Wisconsin, Madison, WI (United States); Barbose, Galen [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Rai, Varun [Univ. of Texas, Austin, TX (United States); Dong, C. G. [Univ. of Texas, Austin, TX (United States)

    2014-12-15

    Solar photovoltaic (PV) system prices in the United States display considerable heterogeneity both across geographic locations and within a given location. Such heterogeneity may arise due to state and federal policies, differences in market structure, and other factors that influence demand and costs. This paper examines the relative importance of such factors on equilibrium solar PV system prices in the United States using a detailed dataset of roughly 100,000 recent residential and small commercial installations. As expected, we find that PV system prices differ based on characteristics of the systems. More interestingly, we find evidence suggesting that search costs and imperfect competition affect solar PV pricing. Installer density substantially lowers prices, while regions with relatively generous financial incentives for solar PV are associated with higher prices.

  15. Ambiguities of fighting inflation: structure of alcohol fuel prices

    International Nuclear Information System (INIS)

    Nastari, Plinio Mario

    1993-01-01

    The control of consumer prices of alcohol fuel and gasoline has been used by the Brazilian government as a tool for fighting inflation. The production of alcohol fuel from biomass and the use of its by-products is one of the few strategies that will permit economic development and environmental preservation at the same time. While the pricing policy continues to determine the energy policy, it will be almost impossible to promote the production and the use of alcohol fuel in the country

  16. Market structure and the stability and volatility of electricity prices

    International Nuclear Information System (INIS)

    Bask, Mikael; Widerberg, Anna

    2009-01-01

    By using a novel approach in this paper, (λ,σ 2 )-analysis, we have found that electricity prices most of the time have increased in stability and decreased in volatility when the Nordic power market has expanded and the degree of competition has increased. That electricity prices at Nord Pool have been generated by a stochastic dynamic system that most often has become more stable during the step-wise integration of the Nordic power market means that this market is less sensitive to shocks after the integration process than it was before this process. This is good news

  17. The Effects of Market Structure on Television News Pricing.

    Science.gov (United States)

    Wirth, Michael O.; Wollert, James A.

    Multiple regression techniques were used to examine the business side of local television news operations for November 1978. Research questions examined the effect of several variables on local television news prices (advertising rates), including type of ownership, network affiliation/signal type, market size, cable network penetration, market…

  18. Population dynamics, structure and behavior of Anopheles darlingi in a rural settlement in the Amazon rainforest of Acre, Brazil.

    Science.gov (United States)

    Moutinho, Paulo Rufalco; Gil, Luis Herman Soares; Cruz, Rafael Bastos; Ribolla, Paulo Eduardo Martins

    2011-06-24

    Anopheles darlingi is the major vector of malaria in South America, and its behavior and distribution has epidemiological importance to biomedical research. In Brazil, An. darlingi is found in the northern area of the Amazon basin, where 99.5% of the disease is reported. The study area, known as Ramal do Granada, is a rural settlement inside the Amazon basin in the state of Acre. Population variations and density have been analysed by species behaviour, and molecular analysis has been measured by ND4 mitochondrial gene sequencing. The results show higher density in collections near a recent settlement, suggesting that a high level of colonization decreases the vector presence. The biting activity showed higher activity at twilight and major numbers of mosquitos in the remaining hours of the night in months of high density. From a sample of 110 individual mosquitoes, 18 different haplotypes were presented with a diversity index of 0.895, which is higher than that found in other Anopheles studies. An. darlingi depends on forested regions for their larval and adult survival. In months with higher population density, the presence of mosquitoes persisted in the second part of the night, increasing the vector capacity of the species. Despite the intra-population variation in the transition to rainy season, the seasonal distribution of haplotypes shows no change in the structure population of An. darlingi.

  19. Price-structure of electricity and district-heating. A background study for energy conservation programme

    International Nuclear Information System (INIS)

    1994-01-01

    The present report deals with the pricing and price-structure of electricity and district-heating with their effects on energy saving. It constitutes part of the groundwork for the new Government Energy Conservation Programme. The report describes principles for the pricing of electricity and district-heating in Finland, and gives some examples of tariffs in foreign countries, which are interesting from the point of view of energy saving. Different utilities apply quite similar pricing principles but there are big differences in price levels between the utilities. The difference in consumer prices can be almost 100 % in the case of electricity and over 150 % as concerns district-heating. The change in retail prices in the last ten years has not had a big general impact on the consumption of electricity or on energy saving. On the other hand, when the price increases of individual utilities are studied, the impact on energy saving at least in the short term can be seen. It seems that an increase of the fixed charges in relation to energy rates has been as a general trend after 1990. To promote energy saving the changing energy rates should be given special emphasis in determining electricity and district-heating tariffs. The opening of the electricity market means that the electricity suppliers face a new situation also when pricing their products. Customers and their expectations will play an increasingly role. (orig.)

  20. The Researches on Cycle-Changeable Generation Settlement Method

    Science.gov (United States)

    XU, Jun; LONG, Suyan; LV, Jianhu

    2018-03-01

    Through the analysis of the business characteristics and problems of price adjustment, a cycle-changeable generation settlement method is proposed to support any time cycle settlement, and put forward a complete set of solutions, including the creation of settlement tasks, time power dismantle, generating fixed cycle of electricity, net energy split. At the same time, the overall design flow of cycle-changeable settlement is given. This method supports multiple price adjustments during the month, and also is an effective solution to the cost reduction of month-after price adjustment.

  1. Sound Settlements

    DEFF Research Database (Denmark)

    Mortensen, Peder Duelund; Hornyanszky, Elisabeth Dalholm; Larsen, Jacob Norvig

    2013-01-01

    Præsentation af projektresultater fra Interreg forskningen Sound Settlements om udvikling af bæredygtighed i det almene boligbyggerier i København, Malmø, Helsingborg og Lund samt europæiske eksempler på best practice......Præsentation af projektresultater fra Interreg forskningen Sound Settlements om udvikling af bæredygtighed i det almene boligbyggerier i København, Malmø, Helsingborg og Lund samt europæiske eksempler på best practice...

  2. Calibration of short rate term structure models from bid-ask coupon bond prices

    Science.gov (United States)

    Gomes-Gonçalves, Erika; Gzyl, Henryk; Mayoral, Silvia

    2018-02-01

    In this work we use the method of maximum entropy in the mean to provide a model free, non-parametric methodology that uses only market data to provide the prices of the zero coupon bonds, and then, a term structure of the short rates. The data used consists of the prices of the bid-ask ranges of a few coupon bonds quoted in the market. The prices of the zero coupon bonds obtained in the first stage, are then used as input to solve a recursive set of equations to determine a binomial recombinant model of the short term structure of the interest rates.

  3. Market structure and credit card pricing: what drives the interchange?

    OpenAIRE

    Zhu Wang

    2008-01-01

    This paper presents a model for the credit card industry, where oligopolistic card networks price their products in a complex marketplace with competing payment instruments, rational consumers/merchants, and competitive card issuers/acquirers. The analysis suggests that card networks demand higher interchange fees to maximize card issuers' profits as card payments become more efficient. At equilibrium, consumer rewards and card transaction volume also increase, while consumer surplus and merc...

  4. Spillovers between Food and Energy Prices and Structural Breaks

    OpenAIRE

    Alanoud Al-Maadid; Guglielmo Maria Caporale; Fabio Spagnolo; Nicola Spagnolo

    2015-01-01

    This paper estimates a bivariate VAR-GARCH(1,1) model to examine linkages between food and energy prices. The adopted framework is suitable to analyse both mean and volatility spillovers, and also allows for possible parameter shifts resulting from four recent events, namely: 1) the 2006 food crisis, 2) the Brent oil bubble, 3) the introduction of the Renewable Fuel Standard (RFS) policy, and 4) the 2008 global financial crisis. The empirical findings suggest that there are significant linkag...

  5. Sound Settlements

    DEFF Research Database (Denmark)

    Mortensen, Peder Duelund; Hornyanszky, Elisabeth Dalholm; Larsen, Jacob Norvig

    2013-01-01

    Præsentation af projektresultater fra Interreg forskningen Sound Settlements om udvikling af bæredygtighed i det almene boligbyggerier i København, Malmø, Helsingborg og Lund samt europæiske eksempler på best practice...

  6. Structural changes in the German pharmaceutical market: price setting mechanisms based on the early benefit evaluation.

    Science.gov (United States)

    Henschke, Cornelia; Sundmacher, Leonie; Busse, Reinhard

    2013-03-01

    In the past, free price setting mechanisms in Germany led to high prices of patented pharmaceuticals and to increasing expenditures in the pharmaceutical sector. In order to control patented pharmaceutical prices and to curb increasing pharmaceutical spending, the Act for Restructuring the Pharmaceutical Market in Statutory Health Insurance (AMNOG) came into effect on 1st January 2011. In a structured dossier, pharmaceutical manufacturers have to demonstrate the additional therapeutic benefit of the newly approved pharmaceutical compared to its appropriate comparator. According to the level of additional benefit, pharmaceuticals will be subject to price negotiations between the Federal Association of Statutory Health Insurance Funds and the pharmaceutical company concerned (or assigned to a reference price group in case of no additional benefit). Therefore, the health care reform is a first step to decision making based on "value for money". The process of price setting based on early benefit evaluation has an impact on the German as well as the European pharmaceutical markets. Therefore, these structural changes in Germany are of importance for pricing decisions in many European countries both from a political point of view and for strategic planning for pharmaceutical manufacturers, which may have an effect on insured patients' access to pharmaceuticals. Copyright © 2012 Elsevier Ireland Ltd. All rights reserved.

  7. Oil prices and current account: A structural analysis for the Turkish economy

    International Nuclear Information System (INIS)

    Ozlale, Umit; Pekkurnaz, Didem

    2010-01-01

    Although there has been an increasing number of studies about the effects of oil prices on the macroeconomic performances, the literature on the interaction between oil prices and current account is limited, especially for oil importing developing countries. This paper analyzes the impact of oil prices on the current account balances for the Turkish economy using a structural vector autoregression model. Our model allows us to identify the net effect of oil prices on current account balances after controlling for other factors such as output gap and exchange rate misalignment. The results show that the response of current account ratio to oil price shock increases gradually up to the first three months and then starts to decrease, which indicates a significant effect of oil price shocks in the short-run. Moreover, when the obtained structural shocks are employed in a simple regression analysis, the parameter regarding the oil price shocks is found to be negative and statistically significant. The final section discusses the policy implications of the results.

  8. Alternative natural gas contract and pricing structures and incentives for the LNG industry

    International Nuclear Information System (INIS)

    Attanasi, E.D.

    1991-01-01

    Gas conversion to liquefied gas (LNG) and transport by LNG tankers is one option for meeting expanding gas consumption and for gas traded internationally. This paper examines the impact of the traditional gas contract provisions of indefinite pricing, market out price ceilings, and take-or-pay requirements on the profitability of LNG projects in the context of markets characterized by price and quantity uncertainty. Simulation of experiments are used to examine and calibrate the effects of those provisions. The results provide guidance to operators, host countries and purchasers in structuring such contracts. The paper also assesses prospects of future expansion of world LNG capacity. (author). 11 refs, 3 figs, 4 tabs

  9. The Welfare Effects of Price Advertising with Basket Shopping: Structural Estimates from Supermarket Promotions

    DEFF Research Database (Denmark)

    Gao, Cixiu

    2015-01-01

    This paper empirically examines welfare effects of the informative price advertising in the supermarket retail industry, using structural estimation approaches and individual scanner data. Supermarket retailers use promotions (advertised price cuts) to announce sales as a competing instrument...... promotion intensities are socially excessive. Moreover, the welfare implications are determined by the two opposite effects of price advertising: (1) the informing and therefore welfare-improving effect, and (2) the welfare-harming effect that higher transportation costs incur when promotions are used....... Using a spatial model that accounts for consumer shopping behavior and retailer pricing behavior, I structurally estimate consumer demand and the marginal costs of promotion, following the discrete choice literature and moment inequality approach. The simulation results numerically show that the private...

  10. EXCHANGE RATE PASS-THROUGH, IMPORT PRICES AND INFLATION UNDER STRUCTURAL BREAKS

    Directory of Open Access Journals (Sweden)

    Arintoko Arintoko

    2011-09-01

    Full Text Available This research estimates the exchange rate pass-through (ERPT into import prices by applying an extension of the basic model of ERPT on Indonesia. It estimates models of cointegration and error-correction mechanism (ECM, with and without structural breaks. It uses the techniques of Zivot-Andrews and of Gregory-Hansen to test for structural breaks and cointegration with the structural breaks, respectively. The results show that with the control variables, inflation affects import prices and lower the pass-through for short term, in a condition of free floating exchange rate. In the short term, with the inclusion of structural breaks, significant inflation affects import prices and lowers the ERPT coefficient.  Keywords:    Exchange rate pass-through, inflation, structural breaks, cointegration, error-correction mechanismJEL classification numbers: C22, C32, E31, F41

  11. U.S. Cotton Prices and the World Cotton Market: Forecasting and Structural Change

    OpenAIRE

    Isengildina-Massa, Olga; MacDonald, Stephen

    2009-01-01

    The purpose of this study was to analyze structural changes that took place in the cotton industry in recent years and develop a statistical model that reflects the current drivers of U.S. cotton prices. Legislative changes authorized the U.S. Department of Agriculture to resume publishing cotton price forecasts for the first time in 79 years. In addition, systematic problems have become apparent in the forecasting models used by USDA and elsewhere, highlighting the need for an updated review...

  12. Requirements for Space Settlement Design

    Science.gov (United States)

    Gale, Anita E.; Edwards, Richard P.

    2004-02-01

    When large space settlements are finally built, inevitably the customers who pay for them will start the process by specifying requirements with a Request for Proposal (RFP). Although we are decades away from seeing the first of these documents, some of their contents can be anticipated now, and provide insight into the variety of elements that must be researched and developed before space settlements can happen. Space Settlement Design Competitions for High School students present design challenges in the form of RFPs, which predict basic requirements for space settlement attributes in the future, including structural features, infrastructure, living conveniences, computers, business areas, and safety. These requirements are generically summarized, and unique requirements are noted for specific space settlement locations and applications.

  13. Human settlements

    CSIR Research Space (South Africa)

    Van Niekerk, Cornelia W

    2017-09-01

    Full Text Available risk of deaths and injuries by drowning in floods and migration- related health effects. • Increased migration, which can result in human suffering, human rights violations, conflicts and political instability. • Loss of property and livelihoods.... The vulnerability of settlements in southern Africa is impacted by various and complex socio-economic processes related to the cultural, political and institutional contexts and demographic pressure, as well as specific high-risk zones susceptible to flash floods...

  14. A generalized one-factor term structure model and pricing of interest rate derivative securities

    NARCIS (Netherlands)

    Jiang, George J.

    1997-01-01

    The purpose of this paper is to propose a nonparametric interest rate term structure model and investigate its implications on term structure dynamics and prices of interest rate derivative securities. The nonparametric spot interest rate process is estimated from the observed short-term interest

  15. Theoretical and Empirical Review of Asset Pricing Models: A Structural Synthesis

    Directory of Open Access Journals (Sweden)

    Saban Celik

    2012-01-01

    Full Text Available The purpose of this paper is to give a comprehensive theoretical review devoted to asset pricing models by emphasizing static and dynamic versions in the line with their empirical investigations. A considerable amount of financial economics literature devoted to the concept of asset pricing and their implications. The main task of asset pricing model can be seen as the way to evaluate the present value of the pay offs or cash flows discounted for risk and time lags. The difficulty coming from discounting process is that the relevant factors that affect the pay offs vary through the time whereas the theoretical framework is still useful to incorporate the changing factors into an asset pricing models. This paper fills the gap in literature by giving a comprehensive review of the models and evaluating the historical stream of empirical investigations in the form of structural empirical review.

  16. The Association between Tax Structure and Cigarette Price Variability: Findings from the International Tobacco Control Policy Evaluation (ITC) Project

    Science.gov (United States)

    Shang, Ce; Chaloupka, Frank J.; Fong, Geoffrey T; Thompson, Mary; O’Connor, Richard J

    2015-01-01

    Background Recent studies have shown that more opportunities exist for tax avoidance when cigarette excise tax structure departs from a uniform specific structure. However, the association between tax structure and cigarette price variability has not been thoroughly studied in the existing literature. Objective To examine how cigarette tax structure is associated with price variability. The variability of self-reported prices is measured using the ratios of differences between higher and lower prices to the median price such as the IQR-to-median ratio. Methods We used survey data taken from the International Tobacco Control Policy Evaluation (ITC) Project in 17 countries to conduct the analysis. Cigarette prices were derived using individual purchase information and aggregated to price variability measures for each surveyed country and wave. The effect of tax structures on price variability was estimated using Generalised Estimating Equations after adjusting for year and country attributes. Findings Our study provides empirical evidence of a relationship between tax structure and cigarette price variability. We find that, compared to the specific uniform tax structure, mixed uniform and tiered (specific, ad valorem or mixed) structures are associated with greater price variability (p≤0.01). Moreover, while a greater share of the specific component in total excise taxes is associated with lower price variability (p≤0.05), a tiered tax structure is associated with greater price variability (p≤0.01). The results suggest that a uniform and specific tax structure is the most effective tax structure for reducing tobacco consumption and prevalence by limiting price variability and decreasing opportunities for tax avoidance. PMID:25855641

  17. Impact of Stock Market Structure on Intertrade Time and Price Dynamics

    Science.gov (United States)

    Ivanov, Plamen Ch.; Yuen, Ainslie; Perakakis, Pandelis

    2014-01-01

    We analyse times between consecutive transactions for a diverse group of stocks registered on the NYSE and NASDAQ markets, and we relate the dynamical properties of the intertrade times with those of the corresponding price fluctuations. We report that market structure strongly impacts the scale-invariant temporal organisation in the transaction timing of stocks, which we have observed to have long-range power-law correlations. Specifically, we find that, compared to NYSE stocks, stocks registered on the NASDAQ exhibit significantly stronger correlations in their transaction timing on scales within a trading day. Further, we find that companies that transfer from the NASDAQ to the NYSE show a reduction in the correlation strength of transaction timing on scales within a trading day, indicating influences of market structure. We also report a persistent decrease in correlation strength of intertrade times with increasing average intertrade time and with corresponding decrease in companies' market capitalization–a trend which is less pronounced for NASDAQ stocks. Surprisingly, we observe that stronger power-law correlations in intertrade times are coupled with stronger power-law correlations in absolute price returns and higher price volatility, suggesting a strong link between the dynamical properties of intertrade times and the corresponding price fluctuations over a broad range of time scales. Comparing the NYSE and NASDAQ markets, we demonstrate that the stronger correlations we find in intertrade times for NASDAQ stocks are associated with stronger correlations in absolute price returns and with higher volatility, suggesting that market structure may affect price behavior through information contained in transaction timing. These findings do not support the hypothesis of universal scaling behavior in stock dynamics that is independent of company characteristics and stock market structure. Further, our results have implications for utilising transaction timing

  18. Impact of stock market structure on intertrade time and price dynamics.

    Science.gov (United States)

    Ivanov, Plamen Ch; Yuen, Ainslie; Perakakis, Pandelis

    2014-01-01

    We analyse times between consecutive transactions for a diverse group of stocks registered on the NYSE and NASDAQ markets, and we relate the dynamical properties of the intertrade times with those of the corresponding price fluctuations. We report that market structure strongly impacts the scale-invariant temporal organisation in the transaction timing of stocks, which we have observed to have long-range power-law correlations. Specifically, we find that, compared to NYSE stocks, stocks registered on the NASDAQ exhibit significantly stronger correlations in their transaction timing on scales within a trading day. Further, we find that companies that transfer from the NASDAQ to the NYSE show a reduction in the correlation strength of transaction timing on scales within a trading day, indicating influences of market structure. We also report a persistent decrease in correlation strength of intertrade times with increasing average intertrade time and with corresponding decrease in companies' market capitalization-a trend which is less pronounced for NASDAQ stocks. Surprisingly, we observe that stronger power-law correlations in intertrade times are coupled with stronger power-law correlations in absolute price returns and higher price volatility, suggesting a strong link between the dynamical properties of intertrade times and the corresponding price fluctuations over a broad range of time scales. Comparing the NYSE and NASDAQ markets, we demonstrate that the stronger correlations we find in intertrade times for NASDAQ stocks are associated with stronger correlations in absolute price returns and with higher volatility, suggesting that market structure may affect price behavior through information contained in transaction timing. These findings do not support the hypothesis of universal scaling behavior in stock dynamics that is independent of company characteristics and stock market structure. Further, our results have implications for utilising transaction timing

  19. An economic assessment of patent settlements in the pharmaceutical industry.

    Science.gov (United States)

    Dickey, Bret; Orszag, Jonathan; Tyson, Laura

    2010-01-01

    This article demonstrates that in recent years, patent settlements between branded and generic manufacturers involving "reverse payments" from branded manufacturers to generic manufacturers have received close antitrust scrutiny, driven by concerns that such settlements harm consumers by delaying the entry of lower-priced generic drugs. The authors note that such settlements will be a focus of the Obama Administration's antitrust enforcement policy, yet there is a growing consensus among the courts that such settlements are anticompetitive only under narrow sets of circumstances. In this article, the authors present an analytical framework for evaluating the competitive effects of patent settlements, including those involving reverse payments, and demonstrate that these settlements can benefit consumers. Thus, the authors conclude that while continued scrutiny of such settlements is important, broad brush treatments are inappropriate and only a more individualized evaluation can correctly determine the competitive effects of a particular settlement agreement.

  20. Imperfect Knowledge, Asset Price Swings and Structural Slumps

    DEFF Research Database (Denmark)

    Juselius, Katarina

    This paper is an empirically based discussion of interactions between speculative behavior in the currency markets and aggregate fluctuations in the real economy. It builds on the recent theory of Imperfect Knowledge Economics in Frydman and Goldberg (2007) and combines this with the Structural S...

  1. Fortified Settlements of the 9th and 10th Centuries ad in Central Europe: Structure, Function and Symbolism

    Science.gov (United States)

    Herold, Hajnalka

    2012-01-01

    THE STRUCTURE, FUNCTION(S) and symbolism of early medieval (9th–10th centuries ad) fortified settlements from central Europe, in particular today’s Austria, Hungary, Czech Republic and Slovakia, are examined in this paper. It offers an overview of the current state of research together with new insights based on analysis of the site of Gars-Thunau in Lower Austria. Special emphasis is given to the position of the fortified sites in the landscape, to the elements of the built environment and their spatial organisation, as well as to graves within the fortified area. The region under study was situated on the SE border of the Carolingian (and later the Ottonian) Empire, with some of the discussed sites lying in the territory of the ‘Great Moravian Empire’ in the 9th and 10th centuries. These sites can therefore provide important comparative data for researchers working in other parts of the Carolingian Empire and neighbouring regions. PMID:23564981

  2. Students' Demand for Smartphones: Structural Relationships of Product Features, Brand Name, Product Price and Social Infuence

    Science.gov (United States)

    Suki, Norazah Mohd

    2013-01-01

    Purpose: The study aims to examine structural relationships of product features, brand name, product price and social influence with demand for Smartphones among Malaysian students'. Design/methodology/approach: Data collected from 320 valid pre-screened university students studying at the pubic higher learning institution in Federal Territory of…

  3. The distribution of cigarette prices under different tax structures: findings from the International Tobacco Control Policy Evaluation (ITC) Project

    Science.gov (United States)

    Shang, Ce; Chaloupka, Frank J; Zahra, Nahleen; Fong, Geoffrey T

    2013-01-01

    Background The distribution of cigarette prices has rarely been studied and compared under different tax structures. Descriptive evidence on price distributions by countries can shed light on opportunities for tax avoidance and brand switching under different tobacco tax structures, which could impact the effectiveness of increased taxation in reducing smoking. Objective This paper aims to describe the distribution of cigarette prices by countries and to compare these distributions based on the tobacco tax structure in these countries. Methods We employed data for 16 countries taken from the International Tobacco Control Policy Evaluation Project to construct survey-derived cigarette prices for each country. Self-reported prices were weighted by cigarette consumption and described using a comprehensive set of statistics. We then compared these statistics for cigarette prices under different tax structures. In particular, countries of similar income levels and countries that impose similar total excise taxes using different tax structures were paired and compared in mean and variance using a two-sample comparison test. Findings Our investigation illustrates that, compared with specific uniform taxation, other tax structures, such as ad valorem uniform taxation, mixed (a tax system using ad valorem and specific taxes) uniform taxation, and tiered tax structures of specific, ad valorem and mixed taxation tend to have price distributions with greater variability. Countries that rely heavily on ad valorem and tiered taxes also tend to have greater price variability around the median. Among mixed taxation systems, countries that rely more heavily on the ad valorem component tend to have greater price variability than countries that rely more heavily on the specific component. In countries with tiered tax systems, cigarette prices are skewed more towards lower prices than are prices under uniform tax systems. The analyses presented here demonstrate that more opportunities

  4. The distribution of cigarette prices under different tax structures: findings from the International Tobacco Control Policy Evaluation (ITC) Project.

    Science.gov (United States)

    Shang, Ce; Chaloupka, Frank J; Zahra, Nahleen; Fong, Geoffrey T

    2014-03-01

    The distribution of cigarette prices has rarely been studied and compared under different tax structures. Descriptive evidence on price distributions by countries can shed light on opportunities for tax avoidance and brand switching under different tobacco tax structures, which could impact the effectiveness of increased taxation in reducing smoking. This paper aims to describe the distribution of cigarette prices by countries and to compare these distributions based on the tobacco tax structure in these countries. We employed data for 16 countries taken from the International Tobacco Control Policy Evaluation Project to construct survey-derived cigarette prices for each country. Self-reported prices were weighted by cigarette consumption and described using a comprehensive set of statistics. We then compared these statistics for cigarette prices under different tax structures. In particular, countries of similar income levels and countries that impose similar total excise taxes using different tax structures were paired and compared in mean and variance using a two-sample comparison test. Our investigation illustrates that, compared with specific uniform taxation, other tax structures, such as ad valorem uniform taxation, mixed (a tax system using ad valorem and specific taxes) uniform taxation, and tiered tax structures of specific, ad valorem and mixed taxation tend to have price distributions with greater variability. Countries that rely heavily on ad valorem and tiered taxes also tend to have greater price variability around the median. Among mixed taxation systems, countries that rely more heavily on the ad valorem component tend to have greater price variability than countries that rely more heavily on the specific component. In countries with tiered tax systems, cigarette prices are skewed more towards lower prices than are prices under uniform tax systems. The analyses presented here demonstrate that more opportunities exist for tax avoidance and brand

  5. 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 ...

  6. Market power and price structure in the electricity market; Markedsmakt og prisstruktur i kraftmarkedet

    Energy Technology Data Exchange (ETDEWEB)

    Halseth, Arve

    1998-12-01

    This report evaluates the importance of market power on price formation and price structure in the Norwegian electricity market. A simple oligopoly model is used to show how the equilibrium is affected by demand, distribution of capacity between two major suppliers, and marginal production costs, given that the suppliers do not cooperate. Two important conclusions can be drawn from the calculations: (1) a high concentration on the supply side does not necessarily lead to essential market power, and (2) market power may contribute to increased stability and predictability. The main conclusion is that market power can be positive for society and it is not uniquely associated with a high concentration on the supply side. If emphasis is placed on stability and predictability, market power should not be defined as deviation from prices under free competition but rather should be related to the requirement that the suppliers should not obtain unreasonably high profit with unreasonably little utilization of capacity. 10 refs., 11 figs.

  7. Structural Break, Stock Prices of Clean Energy Firms and Carbon Market

    Science.gov (United States)

    Wang, Yubao; Cai, Junyu

    2018-03-01

    This paper uses EU ETS carbon future price and Germany/UK clean energy firms stock indices to study the relationship between carbon market and clean energy market. By structural break test, it is found that the ‘non-stationary’ variables judged by classical unit root test do own unit roots and need taking first difference. After analysis of VAR and Granger causality test, no causal relationships are found between the two markets. However, when Hsiao’s version of causality test is employed, carbon market is found to have power in explaining the movement of stock prices of clean energy firms, and stock prices of clean energy firms also affect the carbon market.

  8. Electricity structure and the impact on pricing, trade and the environment

    International Nuclear Information System (INIS)

    Pineau, P.O.

    2007-01-01

    The feasibility of integrating different electricity markets was discussed along with the benefits that can be derived. It was noted that some important differences in Canadian electricity markets create distortions that are harmful both economically and environmentally. Indirect subsidies provided to electricity consumers in British Columbia, Saskatchewan, Manitoba and Quebec result in inefficient consumption levels and in missed opportunities to reduce greenhouse gas (GHG) emissions. The structure of the Canadian electricity sector is characterized by public ownership and decentralization at the provincial level. The impact that this structure has on pricing policies, independent planning and environmental strategies was discussed. Alberta and Ontario have an hourly spot market fixing the market price for electricity, but all the other provinces use a pricing policy based on average cost, including a return on investment. This article also addressed the issue of electric generating units (EGUs) within each province and and their role in meeting provincial electricity demands. It was shown that electricity prices do not reflect the value of the resource across Canada. It was cautioned that subsidies create low electricity prices that result in inefficient consumption levels, thereby preventing clean hydropower to be exported to market-based provinces as a substitute to diesel, natural gas or coal-fuelled EGUs. An estimate of the indirect subsidies was presented in this article along with an analysis of possible consumption reduction scenarios if market prices were used. Carbon dioxide-equivalent emissions reductions that could be obtained if the saved energy was entirely exported were also estimated. Transmission issues involved in exporting electricity were also reviewed. It was argued that once strong financial incentives are in place to induce change, then economic and environmental gains will be proven. 9 tabs., 3 figs

  9. The morphological / settlement pattern classification of South African settlements based on a settlement catchment approach, to inform facility allocation or service delivery

    CSIR Research Space (South Africa)

    Sogoni, Zukisa

    2016-07-01

    Full Text Available , it is of the utmost importance that a critical evaluation of settlement structure and patterns is undertaken to directly inform the manner in which social services are delivered in different settlement types....

  10. Max Auwaerter Price lecture: building and probing atomic structures

    International Nuclear Information System (INIS)

    Ternes, M.

    2008-01-01

    Full text: The control of the geometric, electronic, and magnetic properties of atomic-scale nanostructures is a prerequisite for the understanding and fabrication of new materials and devices. Two routes lead towards this goal: Atomic manipulation of single atoms and molecules by scanning probe microscopy, or patterning using self-assembly. Atomic manipulation has been performed since almost 20 years, but it has been difficult to answer the simple question: how much force does it take to manipulate atoms and molecules on surfaces? To address this question, we used a combined atomic force and scanning tunneling microscope to simultaneously measure the force and the current between an adsorbate and a tip during atomic manipulation. We found that the force it takes to move an atom depends crucially on the binding between adsorbate and surface. Our results indicate that for moving metal atoms on metal surfaces, the lateral force component plays the dominant role. Measuring the forces during manipulation yielded the full potential energy landscape of the tip-sample interaction. Surprisingly, the potential energy barriers are comparable to diffusion barriers, which are obtained in the absence of a probe tip. Furthermore, we used the scanning tunneling microscope to assemble magnetic structures on a thin insulator. We found, that the spin of the atom is influenced by the magnetocrystalline anisotropy of the supporting surface which lifts the spin degeneracy of the ground state and enables the identification of individual atoms. The ground state of atoms with half-integer spin remains always degenerated at zero field due to Kramers theorem. We found that if these states differ by an orbital momentum of m = ±1 the localized spin is screened by the surrounding conducting electrons of the non-magnetic host and form a many-electron spin-singlet at sufficiently low temperature. (author)

  11. Investigation of soil structure in Uzungöl settlement area by Shallow Seismic Methods

    Directory of Open Access Journals (Sweden)

    Hakan Karslı

    2017-04-01

    Full Text Available This study was performed to relase the soil structure of Uzungöl district of Trabzon city, a vocational area, where had been formed by a historical landslide and lake deposits and to evaluate its geotechnical characters by using seismic methods which are noninvasive, rapidly applicable and provide substantial information about the structure of investigated ground in a short time. For this purpose, seismic refraction, active-passive surface waves and seismic reflections in 16 profiles were gathered on four sub-areas and and evaluated by current favorable numerical methods. Although it considerably varies between profiles, the depth of basement, depositional base of deposits, was averagely obtained as 13.5-15m at upper elevation and 25-50m at lower elevation of the study area. Dynamic elastic parameters and average shear wave velocity of the upper 30m (VS30 of soil in the area were calculated. The soil classification of study area was interpreted as locally Z1 and Z2 class for TEC, B and C class for EC-8 code, C and D class for NERHP. According to VS30 (394-530m/s, ground amplification and predominant vibration period of the study area are respectively obtained as 1.5-2.1 and 0.23-0.30sec. On the other hand, all deposits are characterized by stiffness-solid soil, excluding arable soil from surface to a few meters depth. In addition, the first meters of bedrock shows weathered character, but deeper parts are very compact and hard. Therefore, a scientific infrastructure has been formed to carry out the engineering projects to be planned for Uzungöl settletment safely and without damaging the environment.

  12. Detailed mtDNA genotypes permit a reassessment of the settlement and population structure of the Andaman Islands.

    Science.gov (United States)

    Barik, S S; Sahani, R; Prasad, B V R; Endicott, P; Metspalu, M; Sarkar, B N; Bhattacharya, S; Annapoorna, P C H; Sreenath, J; Sun, D; Sanchez, J J; Ho, S Y W; Chandrasekar, A; Rao, V R

    2008-05-01

    The population genetics of the Indian subcontinent is central to understanding early human prehistory due to its strategic location on the proposed corridor of human movement from Africa to Australia during the late Pleistocene. Previous genetic research using mtDNA has emphasized the relative isolation of the late Pleistocene colonizers, and the physically isolated Andaman Island populations of Island South-East Asia remain the source of claims supporting an early split between the populations that formed the patchy settlement pattern along the coast of the Indian Ocean. Using whole-genome sequencing, combined with multiplexed SNP typing, this study investigates the deep structure of mtDNA haplogroups M31 and M32 in India and the Andaman Islands. The identification of a so far unnoticed rare polymorphism shared between these two lineages suggests that they are actually sister groups within a single haplogroup, M31'32. The enhanced resolution of M31 allows for the inference of a more recent colonization of the Andaman Islands than previously suggested, but cannot reject the very early peopling scenario. We further demonstrate a widespread overlap of mtDNA and cultural markers between the two major language groups of the Andaman archipelago. Given the "completeness" of the genealogy based on whole genome sequences, and the multiple scenarios for the peopling of the Andaman Islands sustained by this inferred genealogy, our study hints that further mtDNA based phylogeographic studies are unlikely to unequivocally support any one of these possibilities. (c) 2008 Wiley-Liss, Inc.

  13. Earthquake impact on settlements: the role of urban and structural morphology

    Science.gov (United States)

    Bostenaru Dan, M.; Armas, I.

    2015-10-01

    This study is aimed to create an alternative to the classical GIS representation of the impact of earthquake hazards on urban areas. To accomplish this, the traditional map was revised, so that it can cope with contemporary innovative ways of planning, namely strategic planning. As in the theory of fractals, the building dimension and the urban neighbourhood dimension are addressed as different geographic scales between which lessons for decisions can be learned through regression. The interaction between the two scales is useful when looking for alternatives, for the completion of a GIS analysis, and in choosing the landmarks, which, in the case of hazards, become strategic elements in strategic planning. A methodology to innovate mapping as a digital means for analysing and visualising the impact of hazards is proposed. This method relies on concepts from various geography, urban planning, structural engineering and architecture approaches related to disaster management. The method has been tested at the building scale for the N-S Boulevard in Bucharest, Romania, called Magheru. At the urban scale, an incident database has been created, in which the case study for the building level can be mapped. The paper presented is part of a larger research work, which addresses decision making using the framework shown here. The main value of the paper is in proposing a conceptual framework to deconstruct the map for digital earthquake disaster impact analysis and representation. The originality of the concept consists in the representation of elements at different scales considered to be of different levels of importance in the urban tissue, according to the analysis to be performed on them.

  14. Models for settlement prediction of structures in opencast dumps; Modelle zur Setzungsprognose von Bauwerken auf Tagebaukippen

    Energy Technology Data Exchange (ETDEWEB)

    Birle, E.; Vogt, S. [Technische Univ. Muenchen (Germany). Zentrum Geotechnik

    2016-05-01

    For construction projects at opencast dumps e.g. for planning of traffic routes or individual buildings a prognosis of dump subsicence after the establishment of the structures is required. It should be noted that on dump surfaces time-dependent subsidence are observed which can change by construction activities at the dump surface. As tools for describing the dump subsidence phenomenological models that have been developed based on the evaluation of dump characteristic subsidence and allow a one-dimensional analysis of creep deformation and visco-elastoplastic material models within the finite element method for analyzing complex geometric boundary conditions. [German] Fuer Baumassnahmen auf Tagebaukippen beispielsweise zur Planung von Verkehrswegen oder einzelnen Bauwerken ist eine Prognose der Kippensetzungen nach Errichtung der Bauwerke erforderlich. Dabei ist zu beachten, dass auf Kippenoberflaechen ausgepraegte zeitabhaengige Setzungen beobachtet werden, die sich durch Baumassnahmen an der Kippenoberflaeche aendern koennen. Als Werkzeuge zur Beschreibung der Kippensetzungen stehen prinzipiell phaenomenologische Modelle, die auf Basis der Auswertung von Kippeneigensetzungen entwickelt wurden und die eine ein-dimensionale Analyse der Kriechverformungen zulassen sowie visko-elastoplastische Stoffmodelle im Rahmen der FiniteElemente- Methode zur Analyse komplexer geometrischer Randbedingungen zur Verfuegung. In Abhaengigkeit vom Randwertproblem ist zu entscheiden, welches der Modelle zur Beschreibung der Kippensetzungen heranzuziehen ist. Mit phaenomenologischen Kriechmodellen und einer ein-dimensionalen Analyse der Verformungen koennen die sich nach Ende der Verkippung einstellenden Kippensetzungen in der Regel genuegend genau beschrieben werden, sofern an der Kippenoberflaeche keine signifikanten Spannungsaenderungen infolge von Baumassnahmen eingetragen werden. Kommt es dagegen zu Spannungsaenderungen, beispielsweise durch die Errichtung eines hohen

  15. Settlement-Size Scaling among Prehistoric Hunter-Gatherer Settlement Systems in the New World.

    Directory of Open Access Journals (Sweden)

    W Randall Haas

    Full Text Available Settlement size predicts extreme variation in the rates and magnitudes of many social and ecological processes in human societies. Yet, the factors that drive human settlement-size variation remain poorly understood. Size variation among economically integrated settlements tends to be heavy tailed such that the smallest settlements are extremely common and the largest settlements extremely large and rare. The upper tail of this size distribution is often formalized mathematically as a power-law function. Explanations for this scaling structure in human settlement systems tend to emphasize complex socioeconomic processes including agriculture, manufacturing, and warfare-behaviors that tend to differentially nucleate and disperse populations hierarchically among settlements. But, the degree to which heavy-tailed settlement-size variation requires such complex behaviors remains unclear. By examining the settlement patterns of eight prehistoric New World hunter-gatherer settlement systems spanning three distinct environmental contexts, this analysis explores the degree to which heavy-tailed settlement-size scaling depends on the aforementioned socioeconomic complexities. Surprisingly, the analysis finds that power-law models offer plausible and parsimonious statistical descriptions of prehistoric hunter-gatherer settlement-size variation. This finding reveals that incipient forms of hierarchical settlement structure may have preceded socioeconomic complexity in human societies and points to a need for additional research to explicate how mobile foragers came to exhibit settlement patterns that are more commonly associated with hierarchical organization. We propose that hunter-gatherer mobility with preferential attachment to previously occupied locations may account for the observed structure in site-size variation.

  16. Pricing Decision under Dual-Channel Structure considering Fairness and Free-Riding Behavior

    Directory of Open Access Journals (Sweden)

    Yongmei Liu

    2014-01-01

    Full Text Available Under dual-channel structure, the free-riding behavior based on different service levels between online channel and offline channel cannot be avoided, which would lead to channel unfairness. This study implies that the dual-channel supply chain is built up by online channel controlled by manufacturer and traditional channel controlled by retailer, respectively. Under this channel structure, we rebuild the linear demand function considering free-riding behavior and modify the pricing model based on channel fairness. Then the influences of fair factor and free-riding behavior on manufacturer and retailer pricing and performance are discussed. Finally, we propose some numerical analysis to provide some valuable recommendations for manufacturer and retailer improving channel management performance.

  17. Settlement characteristics of major infrastructures in Shanghai

    Directory of Open Access Journals (Sweden)

    X. Jiao

    2015-11-01

    Full Text Available Critical infrastructures in Shanghai have undergone uneven settlement since their operation, which plays an important role in affecting the security of Shanghai. This paper, taking rail transportation as example, investigates settlement characteristics and influencing factors of this linear engineering, based on long-term settlement monitoring data. Results show that rail settlement is related to geological conditions, regional ground subsidence, surrounding construction activities and structural differences in the rail systems. In order to effectively decrease the impact of regional ground subsidence, a monitoring and early-warning mechanism for critical infrastructure is established by the administrative department and engineering operators, including monitoring network construction, settlement monitoring, information sharing, settlement warning, and so on.

  18. The Crossroads of Social Interest Housing in Bogota: Land Prices

    Directory of Open Access Journals (Sweden)

    Yadira Caballero Quintero

    2009-06-01

    Full Text Available This document analyzes the issue of social interest housing in Bogotarelated with land prices. Additionally, some postulates that have had animpact over land pricing issues have been reviewed. As a starting point ithas been reviewed the population settlement structure in the city as anevidence of the unbalanced occupation and offer of property. Thequantitative perspective used shows that the incorporation of urban landdoes not have the aforementioned effect of lowering prices. The dynamicof land prices shows an inertial behavior of such, derived from the somehow naïve rationality of the owners. The association with the construction evolution shows the tendency of constructors to capture rent anticipation, leads them to make mistakes if cycles are not foreseen. Although being an industry with a competitive organization, there is evidence of a non explained element of pricing that may be a rent, in this case a technological one.

  19. Price and Structure Risks Consideration when Selecting a Marketing Strategy for an Agricultural Enterprise

    Directory of Open Access Journals (Sweden)

    Shiyan Dmytro V.

    2013-11-01

    Full Text Available The goal of the article lies in development and approval of the indicator of complex assessment of the level of price and structure risks of agricultural enterprises with the further goal of selecting a marketing strategy. It was established in the result of the study that agricultural enterprises with a high price and structure risk ratio have high indicators of economic efficiency compared to the groups with a low value of this indicator. At the same time, major enterprises (mostly agro-holdings at a certain stage, which corresponds with the set critical size of the area or livestock, have a possibility to diversify production and, consequently, reduce the price and structure risk ratio. Further studies would deal with establishing groups of agricultural enterprises on the basis of differences in economic efficiency by selected criteria (profitability of realisation of products, profit per 1 hectare and crop capacity and livestock productivity, that result not from the territorial and geographical location, but from specific features of formation of the market of agrarian products of Ukraine.

  20. Nonparametric modeling of US interest rate term structure dynamics and implications on the prices of derivative securities

    NARCIS (Netherlands)

    Jiang, GJ

    1998-01-01

    This paper develops a nonparametric model of interest rate term structure dynamics based an a spot rate process that permits only positive interest rates and a market price of interest rate risk that precludes arbitrage opportunities. Both the spot rate process and the market price of interest rate

  1. Two-part pricing structure in long-term gas sales contracts

    International Nuclear Information System (INIS)

    Slocum, J.C.; Lee, S.Y.

    1992-01-01

    Although the incremental electricity generation market has the potential to be a major growth area for natural gas demand in the U.S., it may never live up to such promise unless gas suppliers are more willing to enter into long-term gas sales agreements necessary to nurture this segment of the industry. The authors submit that producer reluctance to enter into such long-term sales agreements can be traced, at least in part to the differing contract price requirements between gas producers and buyers. This paper will address an evolving solution to this contracting dilemma - the development of a two-part pricing structure for the gas commodity. A two-part pricing structure includes a usage or throughput charge established in a way to yield a marginal gas cost competitive with electric utility avoided costs, and a reservation charge established to guarantee a minimum cash flow to the producer. Moreover, the combined effect of the two charges may yield total revenues that better reflect the producer's replacement cost of the reserves committed under the contract. 2 tabs

  2. 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.

  3. Time scale defined by the fractal structure of the price fluctuations in foreign exchange markets

    Science.gov (United States)

    Kumagai, Yoshiaki

    2010-04-01

    In this contribution, a new time scale named C-fluctuation time is defined by price fluctuations observed at a given resolution. The intraday fractal structures and the relations of the three time scales: real time (physical time), tick time and C-fluctuation time, in foreign exchange markets are analyzed. The data set used is trading prices of foreign exchange rates; US dollar (USD)/Japanese yen (JPY), USD/Euro (EUR), and EUR/JPY. The accuracy of the data is one minute and data within a minute are recorded in order of transaction. The series of instantaneous velocity of C-fluctuation time flowing are exponentially distributed for small C when they are measured by real time and for tiny C when they are measured by tick time. When the market is volatile, for larger C, the series of instantaneous velocity are exponentially distributed.

  4. 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...

  5. 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.

  6. The urban features of informal settlements in Jakarta, Indonesia

    Directory of Open Access Journals (Sweden)

    Waleed Alzamil

    2017-12-01

    Full Text Available This data article contains the urban features of three informal settlements in Jakarta: A. Kampung Bandan; B. Kampung Luar Batang; And C. Kampung Muara Baru. The data describes the urban features of physical structures, infrastructures, and public services. These data include maps showing locations of these settlements, photography of urban status, and examples of urban fabric. The data are obtained from the statistical records and field surveys of three settlements cases. Keywords: Informal settlements, Physical, Features, Urban, Kampung, Jakarta, Indonesia

  7. An Asset Pricing Approach to Testing General Term Structure Models including Heath-Jarrow-Morton Specifications and Affine Subclasses

    DEFF Research Database (Denmark)

    Christensen, Bent Jesper; van der Wel, Michel

    of the risk premium is associated with the slope factor, and individual risk prices depend on own past values, factor realizations, and past values of other risk prices, and are significantly related to the output gap, consumption, and the equity risk price. The absence of arbitrage opportunities is strongly...... is tested, but in addition to the standard bilinear term in factor loadings and market prices of risk, the relevant mean restriction in the term structure case involves an additional nonlinear (quadratic) term in factor loadings. We estimate our general model using likelihood-based dynamic factor model...... techniques for a variety of volatility factors, and implement the relevant likelihood ratio tests. Our factor model estimates are similar across a general state space implementation and an alternative robust two-step principal components approach. The evidence favors time-varying market prices of risk. Most...

  8. Estimating Multivariate Exponentail-Affine Term Structure Models from Coupon Bound Prices using Nonlinear Filtering

    DEFF Research Database (Denmark)

    Baadsgaard, Mikkel; Nielsen, Jan Nygaard; Madsen, Henrik

    2000-01-01

    An econometric analysis of continuous-timemodels of the term structure of interest rates is presented. A panel of coupon bond prices with different maturities is used to estimate the embedded parameters of a continuous-discrete state space model of unobserved state variables: the spot interest rate...... noise term should account for model errors. A nonlinear filtering method is used to compute estimates of the state variables, and the model parameters are estimated by a quasimaximum likelihood method provided that some assumptions are imposed on the model residuals. Both Monte Carlo simulation results...

  9. Option Pricing with a Levy-Type Stochastic Dynamic Model for Stock Price Process Under Semi-Markovian Structural Perturbations

    Science.gov (United States)

    2015-11-30

    models ( Beckers 1980, Dupire 1997), the volatility depends on time and stock price through a deterministic func- tional. In both cases, in addition to...T1 ≤ T2 ≤ · · · ≤ Tn−1 are the regime switch- ing times caused by the semi-Markov process prior to t. For notational convenience, we denote θ−1 = θ0...of interest are currently being investigated: (1) an evaluation of the effects of the backward recurrence time, the sojourn time distribution and the

  10. Commuting in the settlement system of Serbia

    Directory of Open Access Journals (Sweden)

    Lukić Vesna

    2011-01-01

    Full Text Available Territorial organization of settlement system is the framework for internal migration flows. The purpose of this paper is to consider the relation between commuting and the settlement structure. Commuting patterns and characteristics of commuters in Serbia are relatively unknown and insufficiently researched, and as such, can not be adequately used in creation of development strategies and public policies which would include commuters' issues. It has been emphasized the importance of research of commuting ties between different settlements and also pointed out in which way commuting flows could be researched and analyzed by using existing sources, due to better understanding of connections between migrations and settlements. Commuting patterns of workers in Serbia and interrelations between the scope and the structure of commuting flows, as well as the type and population size of settlements in Serbia have been examined. Apart from territorial dimension of commuting phenomenon, socio-economic component of commuting population has also been considered. The use of costumised tabulations from 2002 Census have enabled us to examine all types of commuting and emphasise dominant directions of commuting flows of economically active population according to gender, level of education and sector of economic activity, within the settlement hierarchy. Workers have been classified into seven groups according to place of residence and place of work. The findings reveal there is a clear connection between the hierarchy structure and commuting patterns in Serbia. Further, we find some evidence that only 9,5% of workers - commuters have been working in the settlement of the same population size and type such as their residing settlement. Commuting flows within Serbia’s settlement system point out to certain variations when looking at individual categories of population, but it can be concluded that there is general trend of commuting "upwards" within the

  11. A structural model for electricity prices with spikes: measurement of spike risk and optimal policies for hydropower plant operation

    International Nuclear Information System (INIS)

    Kanamura, Takashi

    2007-01-01

    This paper proposes a new model for electricity prices based on demand and supply, which we call a structural model. We show that the structural model can generate price spikes that fits the observed data better than those generated by other preceding models such as the jump diffusion model and the Box-Cox transformation model. We apply the structural model to obtain the optimal operation policy for a pumped-storage hydropower generator, and show that the structural model can provide more realistic optimal policies than the jump diffusion model. (author)

  12. A structural model for electricity prices with spikes: measurement of spike risk and optimal policies for hydropower plant operation

    Energy Technology Data Exchange (ETDEWEB)

    Kanamura, Takashi [Hitotsubashi University, Tokyo (Japan). Graduate School of International Corporate Strategy; Ohashi, Azuhiko [J-Power, Tokyo (Japan)

    2007-09-15

    This paper proposes a new model for electricity prices based on demand and supply, which we call a structural model. We show that the structural model can generate price spikes that fits the observed data better than those generated by other preceding models such as the jump diffusion model and the Box-Cox transformation model. We apply the structural model to obtain the optimal operation policy for a pumped-storage hydropower generator, and show that the structural model can provide more realistic optimal policies than the jump diffusion model. (author)

  13. Engineering approach to model and compute electric power markets settlements

    International Nuclear Information System (INIS)

    Kumar, J.; Petrov, V.

    2006-01-01

    Back-office accounting settlement activities are an important part of market operations in Independent System Operator (ISO) organizations. A potential way to measure ISO market design correctness is to analyze how well market price signals create incentives or penalties for creating an efficient market to achieve market design goals. Market settlement rules are an important tool for implementing price signals which are fed back to participants via the settlement activities of the ISO. ISO's are currently faced with the challenge of high volumes of data resulting from the increasing size of markets and ever-changing market designs, as well as the growing complexity of wholesale energy settlement business rules. This paper analyzed the problem and presented a practical engineering solution using an approach based on mathematical formulation and modeling of large scale calculations. The paper also presented critical comments on various differences in settlement design approaches to electrical power market design, as well as further areas of development. The paper provided a brief introduction to the wholesale energy market settlement systems and discussed problem formulation. An actual settlement implementation framework and discussion of the results and conclusions were also presented. It was concluded that a proper engineering approach to this domain can yield satisfying results by formalizing wholesale energy settlements. Significant improvements were observed in the initial preparation phase, scoping and effort estimation, implementation and testing. 5 refs., 2 figs

  14. Investigating banks’ financial structure on profitability and price volatility of banks’ shares: Evidence from Tehran Stock Exchange

    OpenAIRE

    Zeinab Mirzaei; Mohsen Hamidian; Mohammad Khodaei Valahzaghard

    2014-01-01

    This paper presents an empirical investigation to study the relationship between financial structure on profitability and price volatility of banks’ shares, which are operating in Iran. The proposed study considers the information of 21 Iranian banks over the period 2006-2012. Using some regression techniques, the study has determined that there was a negative relationship between leverage and return on assets but there was not any meaningful relationship between leverage and price volatility...

  15. The effects of oil price on regional economies with different production structures: A case study from Korea using a structural VAR model

    International Nuclear Information System (INIS)

    Park, Chuhwan; Chung, Mo; Lee, Sukgyu

    2011-01-01

    This study analyzes the effects of oil price fluctuations on regional macroeconomic variables with a structural VAR model. We classified fifteen metropolitan cities and provinces of Korea into four major regions (Capital, Central, Honam, and Gyeongsang) and examined the effects of oil price fluctuations on the economy of these regions. The results in the short- and long-term lag structures show a negative response to industrial production and price. The Capital region is less affected by oil price fluctuations than the other three provincial regions. We concluded that the government should focus on creating an industrial environment to accumulate production factors and technologies in oil price-sensitive regions. - Highlights: ► We examined the effects of oil price shocks on four major economic areas of South Korea. ► We used structural VAR analysis. ► We showed that the production structure of a region influences the impact of oil price shocks. ► We inference that the government should focus on creating an industrial environment.

  16. Non-Price Competition and the Structure of the Online Information Industry: Q-Analysis of Medical Databases and Hosts.

    Science.gov (United States)

    Davies, Roy

    1987-01-01

    Discussion of the online information industry emphasizes the effects of non-price competition on its structure and the firms involved. Q-analysis is applied to data on medical databases and hosts, changes over a three-year period are identified, and an optimum structure for the industry based on economic theory is considered. (Author/LRW)

  17. Assessing the impact of changes in the electricity price structure on dairy farm energy costs

    International Nuclear Information System (INIS)

    Upton, J.; Murphy, M.; Shalloo, L.; Groot Koerkamp, P.W.G.; De Boer, I.J.M.

    2015-01-01

    Highlights: • Choosing electricity tariffs with a low off-peak rate results in financial savings. • Cost saving potential within an electricity tariff is the greatest on large farms. • Earlier AM milking with later PM milking helps reduce electricity consumption. - Abstract: This study aims to provide information on the changes in electricity consumption and costs on dairy farms, through the simulation of various electricity tariffs that may exist in the future and how these tariffs interact with changes in farm management (i.e. shifting the milking operation to an earlier or later time of the day). A previously developed model capable of simulating electricity consumption and costs on dairy farms (MECD) was used to simulate five different electricity tariffs (Flat, Day and Night, Time of Use Tariff 1 (TOU1), TOU2 and Real Time Pricing (RTP)) on three representative Irish dairy farms: a small farm (SF), a medium farm (MF) and a large farm (LF). The Flat tariff consisted of one electricity price for all time periods, the Day and Night tariff consisted of two electricity prices, a high rate from 09:00 to 00:00 h and a low rate thereafter. The TOU tariff structure was similar to that of the Day and Night tariff except that a peak price band was introduced between 17:00 and 19:00 h. The RTP tariff varied dynamically according to the electricity demand on the national grid. The model used in these simulations was a mechanistic mathematical representation of the electricity consumption that simulated farm equipment under the following headings; milk cooling system, water heating system, milking machine system, lighting systems, water pump systems and the winter housing facilities. The effect of milking start time was simulated to determine the effect on electricity consumption and costs at farm level. The earliest AM milking start time and the latest PM milking start time resulted in the lowest energy consumption. The difference between the lowest and highest

  18. Transfer of single farm payment entitlements to farm successors: impact on structural change and rental prices in Switzerland

    Directory of Open Access Journals (Sweden)

    Gabriele Mack

    2013-09-01

    Full Text Available This paper analyses the impact of tradable and non-tradable single farm payment (SFP entitlements for farm successors on structural change and the lease market. Using the example of Swiss agriculture, the effects on rental-price trends and farm-exit rates are investigated. An ex-ante normative impact analysis is performed with the agent-based agricultural-sector model SWISSland, which simulates structural change processes and income trends in Swiss agriculture over a period of up to 15 years. A land market implemented at municipality level simulates the plot-by-plot leasing of land to surrounding neighbouring agents that is common in Switzerland. Allocation of plots to tenants as well as lease pricing is modelled taking into account the farm-specific land rents. The results show that personalised SFP entitlements which could not be transferred to a farm successor not only cause an intensification of structural change, but would also thus lead to a substantial reduction in rental prices. SFP entitlements which were successfully transferred to farm successors have only a slight impact on structural change and the rental prices of arable land. Only for grassland in the mountain region does a stronger shift result in a significant reduction in rental prices.

  19. Oil prices, inflation and interest rates in a structural cointegrated VAR model for the G-7 countries

    International Nuclear Information System (INIS)

    Cologni, Alessandro; Manera, Matteo

    2008-01-01

    Sharp increases in the price of oil are generally seen as a major contributor to business cycle asymmetries. Moreover, the very recent highs registered in the world oil market are causing concern about possible slowdowns in the economic performance of the most developed countries. In this paper a structural cointegrated VAR model has been considered for the G-7 countries in order to study the direct effects of oil price shocks on output and prices, and the reaction of monetary variables to external shocks. Our results can be summarized as follows: i) a stationary money demand, as suggested by the classic theory of money, can be identified for most countries; ii) according to the estimated coefficients of the structural part of the model, for all countries except Japan and U.K. the null hypothesis of an influence of oil prices on the inflation rate cannot be rejected. Inflation rate shocks are transmitted to the real economy by increasing interest rates; iii) impulse response analysis suggests, for most countries, the existence of an instantaneous, temporary effect of oil price innovations on prices; iv) impulse response functions indicate different monetary policy reactions to inflationary and growth shocks; v) the simulation exercises directed to estimate the total impact of the 1990 oil price shock indicate that for some countries (U.S.) a significant part of the effects of the oil price shock is due to the monetary policy reaction function. For other countries (Canada, France and Italy), however, the total impact is offset, at least in part, by an easing of monetary conditions. (author)

  20. Linkages among commodity futures prices in the recent financial crisis: An application of cointegration tests with a structural break

    Directory of Open Access Journals (Sweden)

    Yoichi Tsuchiya

    2015-12-01

    Full Text Available In this study, we investigate the existence of long-term co-movements among the prices of commodity futures contracts. We use a cointegration test, which accounts for the presence of a structural break. We show that while there is a long-term relationship among agricultural and among non-agricultural commodity futures prices when a structural break is taken into account, there is no such relationship without allowing for a structural break. We also show that these break points, in fact, occur a few months before the recent global financial crisis. Although the previous literature broadly casts doubt on such price co-movements, our results confirm that market performance improved during the sample period.

  1. Socio spatial adaptation as a resilience form of native unplanned settlement in confrontation with new planned settlement development pressure (case study: enclave native settlement in Serpong, Tangerang)

    Science.gov (United States)

    Ischak, Mohammad; Setioko, Bambang; Nurgandarum, Dedes

    2017-12-01

    Urban growth refers to expansion of a metropolitan into sub urban areas as the surrounding environment, with no exception of Jakarta city due to limited availability and high price of land within the city. The city of Jakarta, as a metropolitan, carries of expansion in its surrounding environment including Tangerang. Privat developers may an important role in this urban growth through their large scale of new settlement development project. The formation of establishment of enclave native unplanned sub urban settlement scattered within planned new settlement in Tangerang is to be an consequence of Jakarta urban growth. This fenomena could be comprehended as a form of resilience native settlement in confrontation with the new planned settlement pressure. The aim of this research, presented in this paper is to understand the socio-spatial concept of those enclave native settlement as an adaptation form to the new planned settlement pressure. Through descriptive qualitative research method, with indepth interview as a main research instrument, this research could depict or uncover the facts that there are various form of socio-spatial adaptation as the main theme of resilience native suburban settlement formation.

  2. Freemium Pricing

    DEFF Research Database (Denmark)

    Runge, Julian; Wagner, Stefan; Claussen, Jörg

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

  3. Forecast the Impact of Bucharest – Braşov Highway on the Economic and Functional Structure of Human Settlements in Ilfov County

    Directory of Open Access Journals (Sweden)

    PETRONELA NOVĂCESCU

    2011-01-01

    Full Text Available One of the most publicized issues concerning the infrastructure of Romania is the Bucharest-Braşov highway. The long-awaited project aims to streamline the traffic between the Capital and the central part of the country, representing the central area of the Pan - European Road Corridor IV. The length of the highway on the territory of Ilfov County is 31 km, representing 17% of the total length of Bucharest- Braşov highway. The start of the highway will have strong effects on economic structure and on the way the Bucharest Metropolitan Area will work. We can expect an increase in the disparities between the settlements of Ilfov County. This pattern is also observable on the Bucharest-Ploieşti corridor where, in recent years, much of the Ilfov county's economic activities have migrated to the north, especially along that corridor. Besides economic migration, intense residential migration followed the Bucharest – Ploieşti corridor, residents of the Bucharest itself moving out to the north of Ilfov County. Probably, the future Bucharest – Braşov highway will lead to an increased suburbanization and periurbanization, this in turn giving way to the crowding of the area by businesses eager to have access to the highway. This project will likely increase the gap between north and south of Ilfov County. In addition to changes that may occur at the county level, changes will also have an impact on the localities themselves since the areas located near the highway will have an economic and demographic growth rate superior to more remote areas. In this sense, we conducted a comparative analysis between eight settlements of Ilfov county crossed by the Bucharest-Braşov highway in order to assess the impact. This analysis was based on the information obtained from site and statistical indicators that were processed to obtain a clear picture of the situation in the examined territory.

  4. Investor structure and the price-volume relationship in a continuous double auction market: An agent-based modeling perspective

    Science.gov (United States)

    Zhang, Wei; Bi, Zhengzheng; Shen, Dehua

    2017-02-01

    This paper investigates the impact of investor structure on the price-volume relationship by simulating a continuous double auction market. Connected with the underlying mechanisms of the price-volume relationship, i.e., the Mixture of Distribution Hypothesis (MDH) and the Sequential Information Arrival Hypothesis (SIAH), the simulation results show that: (1) there exists a strong lead-lag relationship between the return volatility and trading volume when the number of informed investors is close to the number of uninformed investors in the market; (2) as more and more informed investors entering the market, the lead-lag relationship becomes weaker and weaker, while the contemporaneous relationship between the return volatility and trading volume becomes more prominent; (3) when the informed investors are in absolute majority, the market can achieve the new equilibrium immediately. Therefore, we can conclude that the investor structure is a key factor in affecting the price-volume relationship.

  5. Hospital prices and market structure in the hospital and insurance industries.

    Science.gov (United States)

    Moriya, Asako S; Vogt, William B; Gaynor, Martin

    2010-10-01

    There has been substantial consolidation among health insurers and hospitals, recently, raising questions about the effects of this consolidation on the exercise of market power. We analyze the relationship between insurer and hospital market concentration and the prices of hospital services. We use a national US dataset containing transaction prices for health care services for over 11 million privately insured Americans. Using three years of panel data, we estimate how insurer and hospital market concentration are related to hospital prices, while controlling for unobserved market effects. We find that increases in insurance market concentration are significantly associated with decreases in hospital prices, whereas increases in hospital concentration are non-significantly associated with increases in prices. A hypothetical merger between two of five equally sized insurers is estimated to decrease hospital prices by 6.7%.

  6. A taxonomy for the evolution of human settlements on the moon and Mars

    Science.gov (United States)

    Roberts, Barney B.; Mandell, Humboldt C.

    1991-01-01

    A proposed structure is described for partnerships with shared interests and investments to develop the technology and approach for evolutionary surface systems for the moon and Mars. Five models are presented for cooperation with specific references to the technical evolutionary path of the surface systems. The models encompass the standard customer/provider relationship, a concept for exclusive government use, a joint venture with a government-sponsored non-SEI market, a technology joint-development approach, and a redundancy model to insure competitive pricing. The models emphasize the nonaerospace components of the settlement technologies and the decentralized nature of surface systems that make the project suitable for private industrial development by several companies. It is concluded that the taxonomy be considered when examining collaborative opportunities for lunar and Martian settlement.

  7. Price Strategies in Banking Marketing

    Directory of Open Access Journals (Sweden)

    Iuliana Cetina

    2007-01-01

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

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

    International Nuclear Information System (INIS)

    2006-06-01

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

  9. Measurement of Narora reactor building relative settlement

    International Nuclear Information System (INIS)

    Deo, P.M.; Pande, K.C.; Patwardhan, H.S.

    1977-01-01

    The civil construction of the reactor building of Narora Atomic Power Project has a special problem. The stability of the structure is liable to settlement as this location falls in seismic zone. To obviate the possibility of large scale unequal settlements, the reactor building is founded on a 4 meter thick rigid raft concreted in three layers, at a depth of 13 meters below ground. Stainless steel tanks will be embedded at 17 locations to measure relative settlements. The relative elevation difference will be detected by electrical probes when the water level in any one of the tanks touches the tip of the probes. The design envisages a maximum permissible unequal settlements of about 10 mm. over a period of 20 years. (K.B.)

  10. Retail Price Model

    Science.gov (United States)

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

  11. An Electricity Price Forecasting Model by Hybrid Structured Deep Neural Networks

    Directory of Open Access Journals (Sweden)

    Ping-Huan Kuo

    2018-04-01

    Full Text Available Electricity price is a key influencer in the electricity market. Electricity market trades by each participant are based on electricity price. The electricity price adjusted with the change in supply and demand relationship can reflect the real value of electricity in the transaction process. However, for the power generating party, bidding strategy determines the level of profit, and the accurate prediction of electricity price could make it possible to determine a more accurate bidding price. This cannot only reduce transaction risk, but also seize opportunities in the electricity market. In order to effectively estimate electricity price, this paper proposes an electricity price forecasting system based on the combination of 2 deep neural networks, the Convolutional Neural Network (CNN and the Long Short Term Memory (LSTM. In order to compare the overall performance of each algorithm, the Mean Absolute Error (MAE and Root-Mean-Square error (RMSE evaluating measures were applied in the experiments of this paper. Experiment results show that compared with other traditional machine learning methods, the prediction performance of the estimating model proposed in this paper is proven to be the best. By combining the CNN and LSTM models, the feasibility and practicality of electricity price prediction is also confirmed in this paper.

  12. NAAG Tobacco Settlement Payments

    Data.gov (United States)

    U.S. Department of Health & Human Services — 1999-2016. National Association of Attorneys General (NAAG). Policy—Tobacco Settlement Payments. The National Association of Attorneys General (NAAG) provides...

  13. NAAG Tobacco Settlement Payments

    Data.gov (United States)

    U.S. Department of Health & Human Services — 1999-2017. National Association of Attorneys General (NAAG). Policy—Tobacco Settlement Payments. The National Association of Attorneys General (NAAG) provides...

  14. Minnesota Power Settlement

    Science.gov (United States)

    EPA and DOJ announced a Clean Air Act settlement with Minnesota Power, an ALLETE company based in Duluth, that will cover its three coal-fired power plants and one biomass-and-coal-fired steam and electricity cogeneration plan

  15. Experimental analysis of railway track settlement in transition zones

    NARCIS (Netherlands)

    Wang, H.; Markine, V.L.; Liu, X.

    2017-01-01

    Transition zones in railway tracks are the locations with considerable changes in the vertical support structures. Due to the differential stiffness and settlement in the open track and the engineering structure resulting in the dynamic amplification of the wheel forces, track settlement is usually

  16. 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.

  17. STRUCTURAL BREAKS, COINTEGRATION, AND CAUSALITY BY VECM ANALYSIS OF CRUDE OIL AND FOOD PRICE

    Directory of Open Access Journals (Sweden)

    Aynur Pala

    2013-01-01

    Full Text Available This papers investigated form of the linkage beetwen crude oil price index and food price index, using Johansen Cointegration test, and Granger Causality by VECM. Empirical results for monthly data from 1990:01 to 2011:08 indicated that evidence for breaks after 2008:08 and 2008:11. We find a clear long-run relationship between these series for the full and sub sample. Cointegration regression coefficient is negative at the 1990:01-2008:08 time period, but adversely positive at the 2008:11-2011:08 time period. This results represent that relation between crude oil and food price chanced.

  18. The urban features of informal settlements in Jakarta, Indonesia.

    Science.gov (United States)

    Alzamil, Waleed

    2017-12-01

    This data article contains the urban features of three informal settlements in Jakarta: A. Kampung Bandan; B. Kampung Luar Batang; And C. Kampung Muara Baru. The data describes the urban features of physical structures, infrastructures, and public services. These data include maps showing locations of these settlements, photography of urban status, and examples of urban fabric. The data are obtained from the statistical records and field surveys of three settlements cases.

  19. The Hidden Structure of Organic Informal-like Settlements in Jogjakarta City: An Investigation of Socio-Spatial Relationship in an Urban Kampung

    Science.gov (United States)

    Hutama, I. A. W.

    2018-05-01

    Some urban kampungs are registered as informal settlements in Indonesian cities. The existence of a kampung amidst the cities is crucial in providing an affordable access to housing for most of the city’s residents. As an integral part of the city, urban kampungs face many problems such as social segregation, low and deteriorated physical quality, and exclusion from spatial plans which may worsen the residents’ quality of life. Apart from this condition, an urban kampung is believed to have a strong social cohesion and resilient community which are able to persist and survive socially and economically. Towards the sustainability of the city, kampungs as part of the city structure need to be addressed spatially through proper plan and design strategy. In doing so, planners and architects must understand the unique characteristics of urban kampungs to appreciate their positive contribution to the cities. This paper is presented to understand the underlying information on the organic spatial layout of the informal kampung and its impact on social composition within the framework of lively, vibrant, and safe neighborhoods. We utilized Space Syntax (SSX) combined with activity snapshot to understand the socio-spatial relationship and then triangulated the results with a questionnaire on the residents’ perception. Kampung Code, located in the inner city of Yogyakarta, was selected as the case study area as it represents the informal-like settlements. This study revealed that the complex interplays of the organic spatial layout does not significantly affect the frequency of outdoor activities. However, the presence of eight popular spaces (streets, house’s terraces, local shops/taverns, small open spaces, riverbanks, guard posts, community buildings, and small mosques) distributed within Kampung Code does influence it, and it is the driving factor for the residents to engage with others in the form of social interactions. Popular places are able to accommodate

  20. Parameters of leisure mobility of elder people: The importance of settlement structures and automobile availability; Bestimmungsgroessen der Freizeitmobilitaet aelterer Menschen: Die Bedeutung von Siedlungsstrukturen und Pkw-Verfuegbarkeit

    Energy Technology Data Exchange (ETDEWEB)

    Scheiner, J. [Dortmund Univ. (Germany). Fakultaet Raumplanung, Verkehrswesen und Verkehrsplanung

    2005-07-01

    According to gerontological mobility research, car availability as well as appropriate settlement structures at the neighbourhood level are both playing a prominent role in the maintenance of mobility of elderly people. However, car availability is strongly connected to other individual attributes like age, health and gender. The paper investigates whether car availability and spatial context have an impact on leisure mobility of elderly people when socio-demographic and health factors are being controlled for. The paper is based on a standardised cross-sectional survey among n=4,500 residents of three different study areas in Germany. Leisure mobility was investigated with respect to out-of-home activity frequency, activity diversity, travel distance, existence of unfulfilled activity wishes, and leisure satisfaction. According to the results, leisure mobility is strongly associated with health, social networks, and socio-demographic characteristics. Only two mobility measures are positively associated with the availability of a private car. The spatial context does not have a significant influence on any mobility indicator. The results support the thesis that car availability is not a cause for mobility, but rather a result of a specific life situation, which is associated with a specific type of mobility. (orig.)

  1. Coral settlement on a highly disturbed equatorial reef system.

    Science.gov (United States)

    Bauman, Andrew G; Guest, James R; Dunshea, Glenn; Low, Jeffery; Todd, Peter A; Steinberg, Peter D

    2015-01-01

    Processes occurring early in the life stages of corals can greatly influence the demography of coral populations, and successful settlement of coral larvae that leads to recruitment is a critical life history stage for coral reef ecosystems. Although corals in Singapore persist in one the world's most anthropogenically impacted reef systems, our understanding of the role of coral settlement in the persistence of coral communities in Singapore remains limited. Spatial and temporal patterns of coral settlement were examined at 7 sites in the southern islands of Singapore, using settlement tiles deployed and collected every 3 months from 2011 to 2013. Settlement occurred year round, but varied significantly across time and space. Annual coral settlement was low (~54.72 spat m(-2) yr(-1)) relative to other equatorial regions, but there was evidence of temporal variation in settlement rates. Peak settlement occurred between March-May and September-November, coinciding with annual coral spawning periods (March-April and October), while the lowest settlement occurred from December-February during the northeast monsoon. A period of high settlement was also observed between June and August in the first year (2011/12), possibly due to some species spawning outside predicted spawning periods, larvae settling from other locations or extended larval settlement competency periods. Settlement rates varied significantly among sites, but spatial variation was relatively consistent between years, suggesting the strong effects of local coral assemblages or environmental conditions. Pocilloporidae were the most abundant coral spat (83.6%), while Poritidae comprised only 6% of the spat, and Acroporidae coral spat. These results indicate that current settlement patterns are reinforcing the local adult assemblage structure ('others'; i.e. sediment-tolerant coral taxa) in Singapore, but that the replenishment capacity of Singapore's reefs appears relatively constrained, which could lead

  2. Evaluating a novel tiered scarcity adjusted water budget and pricing structure using a holistic systems modelling approach.

    Science.gov (United States)

    Sahin, Oz; Bertone, Edoardo; Beal, Cara; Stewart, Rodney A

    2018-06-01

    Population growth, coupled with declining water availability and changes in climatic conditions underline the need for sustainable and responsive water management instruments. Supply augmentation and demand management are the two main strategies used by water utilities. Water demand management has long been acknowledged as a least-cost strategy to maintain water security. This can be achieved in a variety of ways, including: i) educating consumers to limit their water use; ii) imposing restrictions/penalties; iii) using smart and/or efficient technologies; and iv) pricing mechanisms. Changing water consumption behaviours through pricing or restrictions is challenging as it introduces more social and political issues into the already complex water resources management process. This paper employs a participatory systems modelling approach for: (1) evaluating various forms of a proposed tiered scarcity adjusted water budget and pricing structure, and (2) comparing scenario outcomes against the traditional restriction policy regime. System dynamics modelling was applied since it can explicitly account for the feedbacks, interdependencies, and non-linear relations that inherently characterise the water tariff (price)-demand-revenue system. A combination of empirical water use data, billing data and customer feedback on future projected water bills facilitated the assessment of the suitability and likelihood of the adoption of scarcity-driven tariff options for a medium-sized city within Queensland, Australia. Results showed that the tiered scarcity adjusted water budget and pricing structure presented was preferable to restrictions since it could maintain water security more equitably with the lowest overall long-run marginal cost. Copyright © 2018 Elsevier Ltd. All rights reserved.

  3. Deregulation, market structure and gas prices in the Canadian Natural Gas Industry

    International Nuclear Information System (INIS)

    Uhler, R.S.

    1992-01-01

    During the course of the development of the natural gas industry in Canada, gas purchase and sales markets have evolved from being relatively free of regulation to being highly regulated and back again. Though pipeline transport charges were regulated, the pipeline companies, or their subsidiaries, owned the gas that they transported and price and other provisions of purchase and sales contracts were freely negotiated with the producers at one end and distributing utilities or industrial users at the other end. The Western Accord of 1985 set the process of deregulation of the Canadian natural gas industry in motion. On November 1, 1986, natural gas prices in interprovincial trade were deregulated in that domestic natural gas prices were to be freely negotiated. Although not stated explicitly, government policy is to permit export prices to be freely negotiated so long as they do not fall below domestic prices. The deregulation process has dramatically changed the relationship between buyers and sellers. Of particular importance is that deregulation has permitted companies to negotiate gas purchase contracts directly with producers with the pipeline company acting solely as a gas transporter. The purpose of this paper is to examine the forces that have led to shorter term contracts and to examine the likely effect of these contract terms on reservoir development investment incentives. 5 refs., 3 figs

  4. How Are Property Investment Returns Determined? : Estimating the Micro-Structure of Asset Prices, Property Income, and Discount Rates

    OpenAIRE

    Shimizu, Chihiro

    2014-01-01

    How exactly should one estimate property investment returns? Investors in property aim to maximize capital gains from price increases and income generated by the property. How are the returns on investment in property determined based on its characteristics, and what kind of market characteristics does it have? Focusing on the Tokyo commercial property market and residential property market, the purpose of this paper was to break down and measure the micro-structure of property investment ret...

  5. Price control and macromarketing

    Directory of Open Access Journals (Sweden)

    Kancir Rade

    2003-01-01

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

  6. ACCOUNTING ASPECTS OF PRICING AND TRANSFER PRICING

    OpenAIRE

    TÜNDE VERES

    2011-01-01

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

  7. Impact of morpho-hydraulic structure of small flows river-basins for settlement by benthic invertebrate

    International Nuclear Information System (INIS)

    Pastuchova, Z.

    2009-01-01

    We examined two types of potential habitat for macrozoobenthos: 1 morphological units; 2 types of flow as a complex of hydraulic characteristics of habitat. Both types of habitats were analyzed by their physical attributes and macroinvertebrate communities. Froude (Fr) and Reynolds (Re) number turned out to be suitable as a descriptor of the average hydraulic habitat conditions. The structure of the communities involved abundance, food types, substrate, saprobic and current preferences. From directly measured variables the most significant effect had the flow velocity. (author)

  8. Automatic settlement analysis of single-layer armour layers

    NARCIS (Netherlands)

    Hofland, B.; van gent, Marcel

    2016-01-01

    A method to quantify, analyse, and present the settlement of single-layer concrete armour layers of coastal structures is presented. The use of the image processing technique for settlement analysis is discussed based on various modelling
    studies performed over the years. The accuracy of the

  9. Ambiguities of fighting inflation: structure of alcohol fuel prices; Os equivocos do combate a inflacao

    Energy Technology Data Exchange (ETDEWEB)

    Nastari, Plinio Mario [Fundacao Getulio Vargas (FGV), Sao Paulo, SP (Brazil)

    1993-12-31

    The control of consumer prices of alcohol fuel and gasoline has been used by the Brazilian government as a tool for fighting inflation. The production of alcohol fuel from biomass and the use of its by-products is one of the few strategies that will permit economic development and environmental preservation at the same time. While the pricing policy continues to determine the energy policy, it will be almost impossible to promote the production and the use of alcohol fuel in the country 8 figs.

  10. Model for mapping settlements

    Science.gov (United States)

    Vatsavai, Ranga Raju; Graesser, Jordan B.; Bhaduri, Budhendra L.

    2016-07-05

    A programmable media includes a graphical processing unit in communication with a memory element. The graphical processing unit is configured to detect one or more settlement regions from a high resolution remote sensed image based on the execution of programming code. The graphical processing unit identifies one or more settlements through the execution of the programming code that executes a multi-instance learning algorithm that models portions of the high resolution remote sensed image. The identification is based on spectral bands transmitted by a satellite and on selected designations of the image patches.

  11. Settlement patterns and sustainability

    DEFF Research Database (Denmark)

    Hendriksen, Kåre

    This paper discusses settlement patterns and sustainability. Generally urbanization is recognised as an inevitable development driven by job opportunities, better service supply, education, and health services, and it is argued that this is the main driver for centralisation. Research based...... on economic and demographic studies and a large series of interviews problematize this. In Greenland the historical correlation between settlement pattern and livelihood has been decoupled, so that distributions of jobs and potential earnings to a growing extend is a consequence of political and...

  12. 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 ...

  13. Collapse settlement in compacted soils

    CSIR Research Space (South Africa)

    Booth, AR

    1977-01-01

    Full Text Available Research into collapse settlement in compacted soils is described, with special reference to recent cases in Southern Africa where collapse settlement occurred in road embankments following wetting of the soil. The laboratory work described...

  14. 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...

  15. Structured settlement annuities, part 2: mortality experience 1967--95 and the estimation of life expectancy in the presence of excess mortality.

    Science.gov (United States)

    Singer, R B; Schmidt, C J

    2000-01-01

    the mortality experience for structured settlement (SS) annuitants issued both standard (Std) and substandard (SStd) has been reported twice previously by the Society of Actuaries (SOA), but the 1995 mortality described here has not previously been published. We describe in detail the 1995 SS mortality, and we also discuss the methodology of calculating life expectancy (e), contrasting three different life-table models. With SOA permission, we present in four tables the unpublished results of its 1995 SS mortality experience by Std and SStd issue, sex, and a combination of 8 age and 6 duration groups. Overall results on mortality expected from the 1983a Individual Annuity Table showed a mortality ratio (MR) of about 140% for Std cases and about 650% for all SStd cases. Life expectancy in a group with excess mortality may be computed by either adding the decimal excess death rate (EDR) to q' for each year of attained age to age 109 or multiplying q' by the decimal MR for each year to age 109. An example is given for men age 60 with localized prostate cancer; annual EDRs from a large published cancer study are used at duration 0-24 years, and the last EDR is assumed constant to age 109. This value of e is compared with e from constant initial values of EDR or MR after the first year. Interrelations of age, sex, e, and EDR and MR are discussed and illustrated with tabular data. It is shown that a constant MR for life-table calculation of e consistently overestimates projected annual mortality at older attained ages and underestimates e. The EDR method, approved for reserve calculations, is also recommended for use in underwriting conversion tables.

  16. 15 CFR 785.17 - Settlement.

    Science.gov (United States)

    2010-01-01

    ... 15 Commerce and Foreign Trade 2 2010-01-01 2010-01-01 false Settlement. 785.17 Section 785.17... Settlement. (a) Settlements before issuance of a NOVA. When the parties have agreed to a settlement of the case prior to issuance of a NOVA, a settlement proposal consisting of a settlement agreement and order...

  17. Sanitation in informal settlements

    DEFF Research Database (Denmark)

    Unterrainer, Walter

    2015-01-01

    and to cure when having the right means. This is a humanitarian scandal. In Dharavi / Mumbai, an estimated 700.000 people live and work on less than 250 hectares in a hybrid mix of formal and informal settlement. According to an UN report, in 2006 one toilet seat existed for 1440 dwellers while...

  18. Negotiated Settlements: Long-term Profits and Costs

    Directory of Open Access Journals (Sweden)

    G. Kent Fellows

    2012-05-01

    Full Text Available Over the last 20 years, utility regulators have relaxed their oversight of cost-ofservice regulation and this holds true for Alberta, where such regulation determines the fees associated with oil and gas pipeline usage. The traditional method has been for regulators to issue binding decisions on a firm’s cost of service after taking evidence at a formal hearing. Many regulators now prefer to encourage parties to settle a cost-of-service agreement through a negotiated settlement, which the regulator then approves. This process not only saves the cost of a hearing, it also permits firms and consumers to trade costs and benefits, settling on a final price more favourable to both. The author details how this arrangement can negatively impact future consumers by allowing the firm to defer the true burden of its depreciation expenses in return for inflated capital costs. Such a settlement lowers prices for the present but saddles future consumers with higher prices.

  19. Australia/Japan thermal coal settlements

    International Nuclear Information System (INIS)

    McLean, A.

    2000-01-01

    After prolonged negotiations, Australian suppliers and Japanese buyers have reached agreement on the benchmark thermal coal prices for the Japanese financial year 2000 (April 1, 2000 to March 31, 2001). The benchmark price as negotiated with the Chubu and Tohoku power utilities is about US$1.20 down on last year's price of $29.95. The actual price change to each supplier varies slightly depending on the calorific value of each product as calculated against a benchmark value of 6700kcal/kg on a gross air-dried basis. It is strange, but the Australians and Japanese both have some reason to crow about the outcome of the negotiation. In US dollar terms, compared with April 1, 1999, the suppliers have secured a price rise from A$45.39 to A$47.97; while the Japanese can point to having achieved a price reduction from Y3551/t to Y3162/t. The joys of exchange rate fluctuations. The result can only be seen as a good one for Australia, especially as it is alleged that one of the Australian suppliers opened negotiations by putting a US$1 price reduction on the table. It is worth noting that the significance of the benchmark coal price is waning, with the annual negotiations in Japan covering only 14Mt of a total seaborne trade of some 450Mt. Consequently, few tonnes are marketed at the benchmark price and Australia finds itself in fierce competition with suppliers from Indonesia, China and Russia for huge, short-term tenders at FOB prices. Recent winning Australian bids have been barely over US$20/t FOBT ex east coast Australia-nearly 30% below the new US$28.75 benchmark price. Finally, on the negotiating table will come the settlements for the semi coking coals. This is where Australia should hold the trump card. Japan simply cannot replace, from other countries, the near 30Mt of high quality coal it purchases each year from Australia. But already the whiff of a US$1.45-US$1.50 price reduction hangs in the air. Copyright (2000) Australian Journal of Mining

  20. Numerical Analysis of Consolidation Settlement and Creep Deformation of Artificial Island Revetment Structure in a Large-Scale Marine Reclamation Land Project

    Directory of Open Access Journals (Sweden)

    Jie Zhao

    2015-09-01

    Full Text Available In order to analyze the influential factors of soft foundation settlement in a marine reclamation land project, the consolidation settlement and pore pressure dissipation of the entire area are numerically simulated using Soft-Soil- Creep Model, in which the PLAXIS finite element software for professional geotechnical engineering is applied and empirical data of Japanese Kansai’s airport project are used. Moreover, the figures of settlement and pore pressure results in the different basic period are drawn, and the corresponding analysis conclusions are ob-tained based on the comparison among the results from the computational parameters of depth. In addition,, the influence rules of various parameters on settlement results is concluded through running the parameter sensitivity analysis in Soft-Soil-Creep Model, and the experience and conclusions can be for reference in the design and con-struction of similar large-scale marine reclamation land project. Also the empirical value method of the creep index has not been applied widely. Further research needs to be done.

  1. TARGET 2 and Settlement Finality

    Directory of Open Access Journals (Sweden)

    Ivan MANGATCHEV

    2011-03-01

    Full Text Available This article examines how TARGET 2 as system implements the idea of settlement finality regulated by Directive 98/26 EC of the European parliament and of the Council of 19 May 1998 on settlement finality in payment and securities settlement systems (Settlement Finality Directive and Directive 2009/44/EC of the European parliament and of the Council of 6 May 2009 amending Directive 98/26/EC on settlement finality in payment and securities settlement systems and Directive 2002/47/EC on financial collateral arrangements as regards linked systems and credit claims (Directive 2009/44/EC. As the title of the arti and finality of the settlement in this system.

  2. Record coking coal settlements

    Energy Technology Data Exchange (ETDEWEB)

    Macdonald, C.

    2005-02-01

    The US$100/tonne psychological barrier in coking coal prices has been well and truly smashed. The article examines developments in coal pricing. It includes quotes from many senior executives in the coal industry as collected at McCloskey's Australian Coal.04 conference held in Sydney, 18-19 November 2004. 2 photos.

  3. Pricing transmission services

    International Nuclear Information System (INIS)

    Haaden, E.

    1995-01-01

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

  4. Microconcrete - a reasonably priced method for examining the supporting characteristics of reinforced concrete structures

    International Nuclear Information System (INIS)

    Sautner, M.

    1982-01-01

    Micro-concrete technology was developed during the last few years so that investigations on small micro-concrete models with a length scale of about 1:15 can be carried out similar to large scale experiments on reinforced concrete. In this way, large scale experiments can be supplemented at a reasonable price, cheap data can be obtained for the further development of computer algorithms, the support characteristics studied and the basic dimensions can be worked out. This is important these days, so that on the one hand better use can be made of the material and on the other hand research resources can be saved. (orig.) [de

  5. Estimating Price Volatility Structure in Iran’s Meat Market: Application of General GARCH Models

    Directory of Open Access Journals (Sweden)

    Z. Rasouli Birami

    2016-10-01

    Full Text Available Introduction: Over the past few years, the price volatility of agricultural products and food markets has attracted attention of many researchers and policy makers. This growing attention was started from the food price crisis in 2007 and 2008 when major agricultural products faced accelerated price increases and then rapidly decreased. This paper focused on the price volatility of major commodities related to three market levels of Iran’s meat market, including hay (the input level, calf and sheep (the wholesale level and beef and mutton (the retail level. In particular, efforts will made to find more appropriate models for explaining the behavior of volatility of the return series and to identify which return series are more volatile. The effects of good and bad news on the volatility of prices in each return series will also be studied. Materials and Methods: Different GARCH type models have been considered the best for modeling volatility of return series. Nonlinear GARCH models were introduced to capture the effect of good and bad news separately. The paper uses some GARCH type models including GARCH, Exponential GARCH (EGARCH, GJR-GARCH, Threshold GARCH (TGARCH, Simple Asymmetric GARCH (SAGARCH, Power GARCH (PGARCH, Non-linear GARCH (NGARCH, Asymmetric Power GARCH (APGARCH and Non-linear Power GARCH (NPGARCH to model the volatility of hay, calf, sheep, beef and mutton return series. The data on hay, calf, sheep, and beef and mutton monthly prices are published by Iran’s livestock support firm. The paper uses monthly data over the sample period of the May 1992 to the March 2014. Results and Discussion: Descriptive statistics of the studied return series show evidence of skewness and kurtosis. The results here show that all the series has fat tails. The significant p-values for the Ljung-Box Q-statistics mean that the auto-correlation exists in the squared residuals. The presence of unit roots in the return series is confirmed by the

  6. 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...

  7. Solutions for wood-based bio-energy price discovery

    Energy Technology Data Exchange (ETDEWEB)

    Teraes, Timo [FOEX Indexes Ltd., Helsinki (Finland)], e-mail: timo@foex.fi

    2012-11-01

    Energy prices are highly volatile. This volatility can have serious ill-effects on the profitability of companies engaged in the energy business. There are, however, a number of price risk management tools which can be used to reduce the problems caused by price volatility. International trade of wood pellets and wood chips is rapidly growing. A good price transparency helps in developing the trade further. In order to meet the renewable energy targets within the EU, further growth of volumes is needed, at least within Europe and from overseas supply sources to the European markets. Reliable price indices are a central element in price risk management and in general price discovery. Exchanges have provided, in the past, the most widely known price discovery systems. Since 1990's, an increasing number of price risk management tools has been based on cash settlement concept. Cash settlement requires high quality benchmark price indices. These have been developed by the exchanges themselves, by trade press and by independent price benchmark provider companies. The best known of these benchmarks in forest industry and now also in wood-based bioenergy products are the PIX indices, provided by FOEX Indexes Ltd. This presentation discusses the key requirements for a good price index and the different ways of using the indices. Price relationships between wood chip prices and pellet prices are also discussed as will be the outlook for the future volume growth and trade flows in woodchips and pellets mainly from the European perspective.

  8. Coal prices rise

    International Nuclear Information System (INIS)

    McLean, A.

    2001-01-01

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

  9. 29 CFR 102.151 - Settlement.

    Science.gov (United States)

    2010-07-01

    ... 29 Labor 2 2010-07-01 2010-07-01 false Settlement. 102.151 Section 102.151 Labor Regulations... Expenses § 102.151 Settlement. The applicant and the General Counsel may agree on a proposed settlement of... on a proposed settlement of an award before an application has been filed, the proposed settlement...

  10. 17 CFR 10.108 - Settlements.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Settlements. 10.108 Section 10... to the Commission; Settlements § 10.108 Settlements. (a) When offers may be made. Parties may at any time during the course of the proceeding propose offers of settlement. All offers of settlement shall...

  11. 33 CFR 20.502 - Settlements.

    Science.gov (United States)

    2010-07-01

    ... 33 Navigation and Navigable Waters 1 2010-07-01 2010-07-01 false Settlements. 20.502 Section 20... Settlements § 20.502 Settlements. (a) The parties may submit a proposed settlement to the ALJ. (b) The proposed settlement must be in the form of a proposed decision, accompanied by a motion for its entry. The...

  12. 15 CFR 719.19 - Settlement.

    Science.gov (United States)

    2010-01-01

    ... 15 Commerce and Foreign Trade 2 2010-01-01 2010-01-01 false Settlement. 719.19 Section 719.19... Settlement. (a) Settlements before issuance of a NOVA. When the parties have agreed to a settlement of the case, the Director of the Office of Export Enforcement will recommend the settlement to the Secretary...

  13. 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...

  14. Modeling of storage tank settlement based on the United States standards

    Directory of Open Access Journals (Sweden)

    Gruchenkova Alesya

    2018-01-01

    Full Text Available Up to 60% of storage tanks in operation have uneven settlement of the outer bottom contour, which often leads to accidents. Russian and foreign regulatory documents have different requirements for strain limits of metal structures. There is an increasing need for harmonizing regulatory documents. The aim of this study is to theoretically justify and to assess the possibility of applying the U.S. standards for specifying the allowable settlement of storage tanks used in Russia. The allowable uneven settlement was calculated for a vertical steel tank (VST-20000 according to API-653, a standard of the American Petroleum Institute. The calculated allowable settlement levels were compared with those established by Russian standards. Based on the finite element method, the uneven settlement development process of a storage tank was modeled. Stress-strain state parameters of tank structures were obtained at the critical levels established in API-653. Relationships of maximum equivalent stresses in VST metal structures to the vertical settlement component for settlement zones of 6 to 72 m in length were determined. When the uneven settlement zone is 6 m in length, the limit state is found to be caused by 30-mm vertical settlement, while stresses in the wall exceed 330 MPa. When the uneven settlement zone is 36 m in length, stresses reach the yield point only at 100-mm vertical settlement.

  15. THE ASSORTMENT STRUCTURE AND THE PRICE LEVELS AS A FACTOR OF MARKETING CHANNEL COMPETITIVENESS–EMPIRICAL EVIDENCE FROM THE REPUBLIC OF SERBIA

    Directory of Open Access Journals (Sweden)

    Jelena Končar

    2016-12-01

    Full Text Available In this paper, the authors point out the differences in the structure of the product assortment of retailers who show their offers on the Web, with the aim of proving that the structure of the assortment may be a factor of marketing channel competitiveness that the consumers recognize and that makes them opt for a certain marketing channel. On the same basis we aim to compare the prices of representative product categories, in order to determine the impact of prices on marketing channel competitiveness, without taking other factors of channel competitiveness into consideration. Based on the conducted research, we can conclude that having a number of categories of products in the assortment presents a competitive advantage for the retailer in the traditional marketing channel since retailers with electronic sales have a more diverse assortment in their retail store than online. Compared to “pure play” electronic retailers, the structure of assortment measured in number of categories of products that are on offer in e-stores is not significantly different between “pure play” and “bricks and clicks” electronic retailers. On the other hand, if we look at the price levels, there is a difference in prices of product categories on websites of “brick and click” retailers since prices in retail stores are higher than prices in the traditional retail store of the same retailer. However, offers on the website of “pure play” electronic retailers are higher compared to “brick and click” retailers.

  16. The Settlement Utopia

    DEFF Research Database (Denmark)

    Villadsen, Kaspar

    2016-01-01

    terms. This article explores the trajectory of the comparatively under-researched Danish offspring of the movement. It demonstrates the tempering and compromise that occurred when utopian ideals of ‘brotherly love’, ‘God’s Kingdom’, and ‘radical social change’ were realized in concrete social...... arrangements. Contradictions and ambiguities arose when utopian ideas were confronted with what could be done. The Settlement became a highly ambiguous space, a ‘heterotopia’. The roots of the contradictions cannot simply be identified in the external pressure of legal requirements and funding criteria...

  17. The Settlement Behavior of Piled Raft Interaction in Undrained Soil

    DEFF Research Database (Denmark)

    Ghalesari, Abbasali Taghavi; Barari, Amin; Amini, Pedram Fardad

    2013-01-01

    Offshore piled raft foundations are one of the most commonly used foundations in offshore structures. When a raft foundation alone does not satisfy the design requirements, the addition of piles may improve both the ultimate load capacity and the settlement performance of the raft. In this paper......, the behavior of a piled raft on undrained soil is studied based on a series of parametric studies on the average and differential settlement of piled raft using three-dimensional finite element analysis. The settlement behavior is found to be dependent on the number of piles and raft thickness....

  18. Trust Mines: Legal Documents and Settlements

    Science.gov (United States)

    Legal Documents and Settlements related to the Northern Abandoned Uranium Mines Region including the Phase 1 Settlement Agreement and Environmental Response Trust Agreement, Phase 2 Settlement Agreement Removal Site Evaluation (RSE) Trust Agreement.

  19. 76 FR 42625 - International Settlements Policy Reform

    Science.gov (United States)

    2011-07-19

    ...] International Settlements Policy Reform AGENCY: Federal Communications Commission. ACTION: Notice of proposed rulemaking. SUMMARY: The Federal Communications Commission proposes to remove the International Settlements... proposes to remove the International Settlements Policy (ISP) from all U.S. international routes except...

  20. Negotiated settlements and the National Energy Board in Canada

    International Nuclear Information System (INIS)

    Doucet, Joseph; Littlechild, Stephen

    2009-01-01

    In Canada, settlements between oil and gas pipelines and users have largely superseded the litigation of major pipeline toll cases since 1995. Quantitatively, from the first half to the second half of the period 1985-2007 the average number of pipeline toll hearing days in Canada fell by three-quarters. On average, settlements last more than twice as long as litigated outcomes and have cut regulatory processing times by about one third for gas pipelines and by about two thirds for oil pipelines, with the result that regulatory processing times per effective toll-year have fallen to 13% and 27% respectively of previous levels. Qualitatively, settlements have been used to determine prices, operating and capital cost projections, return on equity, service quality improvements, risk-sharing investments and information requirements. They were the vehicle by which multi-year incentive agreements developed rapidly for all pipelines. They have also been used to introduce light-handed regulation. They have provided a mechanism for fruitful collaboration between pipelines and their customers and have changed attitudes in the industry. Two key actions of the National Energy Board have facilitated settlements by clarifying expectations and property rights: its generic cost of capital decision that removes the market power of the pipeline and enables effective negotiation with users, and its willingness to judge a settlement by the reasonableness of the process leading up to it instead of imposing the Board's own values on the outcome.

  1. METHODOLOGICAL APPROACHES FOR MODELING THE RURAL SETTLEMENT DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    Gorbenkova Elena Vladimirovna

    2017-10-01

    Full Text Available Subject: the paper describes the research results on validation of a rural settlement developmental model. The basic methods and approaches for solving the problem of assessment of the urban and rural settlement development efficiency are considered. Research objectives: determination of methodological approaches to modeling and creating a model for the development of rural settlements. Materials and methods: domestic and foreign experience in modeling the territorial development of urban and rural settlements and settlement structures was generalized. The motivation for using the Pentagon-model for solving similar problems was demonstrated. Based on a systematic analysis of existing development models of urban and rural settlements as well as the authors-developed method for assessing the level of agro-towns development, the systems/factors that are necessary for a rural settlement sustainable development are identified. Results: we created the rural development model which consists of five major systems that include critical factors essential for achieving a sustainable development of a settlement system: ecological system, economic system, administrative system, anthropogenic (physical system and social system (supra-structure. The methodological approaches for creating an evaluation model of rural settlements development were revealed; the basic motivating factors that provide interrelations of systems were determined; the critical factors for each subsystem were identified and substantiated. Such an approach was justified by the composition of tasks for territorial planning of the local and state administration levels. The feasibility of applying the basic Pentagon-model, which was successfully used for solving the analogous problems of sustainable development, was shown. Conclusions: the resulting model can be used for identifying and substantiating the critical factors for rural sustainable development and also become the basis of

  2. Transfer Pricing

    DEFF Research Database (Denmark)

    Nielsen, Søren Bo

    2014-01-01

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

  3. Gold prices

    OpenAIRE

    Joseph G. Haubrich

    1998-01-01

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

  4. Energy pricing policy in Iran

    International Nuclear Information System (INIS)

    Davood Manzoor

    1995-01-01

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

  5. The Landscape Change of Qiang’s Settlements in the Upper Reaches of Minjiang River after Wenchuan Earthquake

    Directory of Open Access Journals (Sweden)

    Xiaofei Wen

    2015-09-01

    Full Text Available Qiang ethnic group is one of the oldest ethnic groups in China, mainly living in upper reaches of Minjiang River in southwest of China. Qiang’s traditional settlements are valuable cultural heritages. Unfortunately, most of Qiang’s settlements were damaged during Wenchuan earthquake in 2008 in different degree. After the earthquake, settlements were reconstructed in different ways. The landscape of Qiang’s settlements had been changed greatly by dual influences, the destruction of earthquake and reconstruction after earthquake. Researching the changing process of Qiang’s settlements landscape has great significance to the protection of cultural heritage and the inheritance of culture, especially in the period after earthquake. At first, Qiang’s settlements are classified into five types with typology method after field research, according to the different degree of destruction and the different model of reconstruction. The five types are settlements restored to original forms in original location, settlements rebuilt to traditional forms in original location, settlements transformed to traditional forms in original location, settlements rebuilt in new location according to unified planning and settlements rebuilt in new location by villagers themselves. Secondly, the five types of settlements are compared with traditional settlements from several aspects including geographical environment, location of settlements, forms of settlements, space structure, building materials and construction technology, in order to research for the change of the landscape characteristics. Finally, the changing processes of each type of settlements landscape are analyzed. The change of villagers’ demands for settlements space are analyzed with the changes of their production model, life style, traditional customs, cultural communication, national religion and spiritual pursuit. Based on this analysis, the main factors influencing the changes of Qiang

  6. The impact of power market structure on the pass-through of CO2 emissions trading costs to electricity prices. A theoretical approach

    International Nuclear Information System (INIS)

    Sijm, J.; Chen, Yihsu; Hobbs, B.F.

    2009-06-01

    This paper analyses the impact of power market structure on the pass-through rate (PTR) of CO2 emissions trading costs on electricity prices from a theoretical point of view, including graphical illustrations and mathematical proofs. Market structure refers in particular to the number of firms active in the market as well as to the shape of the power demand and supply curves. In addition, it analyses the impact of other power market related factors on the PTR of carbon costs to electricity prices, notably the impact of ET-induced changes in the merit order of power generation technologies or the impact of pursuing other market strategies besides maximising generators' profits, such as maximising market shares or sales revenues of power companies. It shows that each of these factors can have a significant impact on the rate of passing-through carbon costs to electricity prices

  7. The impact of power market structure on CO2 cost pass-through to electricity prices under quantity competition. A theoretical approach

    International Nuclear Information System (INIS)

    Sijm, J.; Chen, Y.; Hobbs, B.F.

    2012-01-01

    We present a theoretical analysis of the impact of power market structure on the pass-through rate (PTR) of CO2 emissions trading (ET) costs on electricity prices. Market structure refers in particular to the number of firms active in the market and the intensity of oligopolistic competition as measured by the conjectural variation, as well as to the functional form of the power demand and supply curves. In addition, we analyse briefly the impact of other power market-related factors on the PTR of carbon costs to electricity prices. These include in particular the impact of ET-induced changes in the merit order of power generation technologies and the impact of pursuing other market strategies besides maximising generator profit, such as maximising market shares or sales revenues of power companies. Each of these factors can have a significant impact on the rate of passing-through carbon costs to electricity prices.

  8. The impact of power market structure on the pass-through of CO2 emissions trading costs to electricity prices. A theoretical approach

    Energy Technology Data Exchange (ETDEWEB)

    Sijm, J. [ECN Policy Studies, Petten (Netherlands); Chen, Yihsu [Merced School of Engineering, University of California, Merced, CA (United States); Hobbs, B.F. [Department of Geography and Environmental Engineering, Johns Hopkins University, Baltimore, Maryland (United States)

    2009-06-15

    This paper analyses the impact of power market structure on the pass-through rate (PTR) of CO2 emissions trading costs on electricity prices from a theoretical point of view, including graphical illustrations and mathematical proofs. Market structure refers in particular to the number of firms active in the market as well as to the shape of the power demand and supply curves. In addition, it analyses the impact of other power market related factors on the PTR of carbon costs to electricity prices, notably the impact of ET-induced changes in the merit order of power generation technologies or the impact of pursuing other market strategies besides maximising generators' profits, such as maximising market shares or sales revenues of power companies. It shows that each of these factors can have a significant impact on the rate of passing-through carbon costs to electricity prices.

  9. Renewable resource regulation and uncertain prices: The role of financial structure and bankruptcy

    International Nuclear Information System (INIS)

    Damania, Richard; Bulte, Erwin H.

    2006-01-01

    We analyze the interaction between regulatory policies and the financial structure of a fishery and show that firms with debts may respond differently to regulations than firms that have not accumulated debts. There are conditions where more stringent regulation is counterproductive, providing a perverse incentive to increase harvesting effort. We show that optimal regulation depends on the sector's financial structure, and demonstrate that there are cases when intervention is counterproductive, or too costly to implement. There are also cases where successful regulatory intervention can only be implemented when accompanied by a sufficiently large subsidy. (author)

  10. Research on the Starokuybyshevskoye Fortified Settlement

    Directory of Open Access Journals (Sweden)

    Gubaydullin Ayrat M.

    2012-06-01

    Full Text Available The Starokuybyshevskoye (Old-Kuybyshev fortified settlement is situated on the bank of the Bezdna river, 200 m to the northeast of Bolgar city. The site is being considerably eroded by the waters of the river and the Kuibyshev water reservoir. Currently it is situated on an island, under threat of complete destruction. In this regard, in 1946, 1987 and 1996, conservation and rescue excavations were conducted on the site. The detailed results of the 1996 studies are offered in the article. The ruins of an above-ground dwelling with an oven and three household pits were excavated. The ceramic assemblage of these structures has obvious features of the pre-Mongol Bulgar culture. In general, the findings make it possible to conclude that the settlement had existed only in the 11th through to the 13th century and that its collapse was associated with the Mongol invasion.

  11. Electricity market pricing, risk hedging and modeling

    Science.gov (United States)

    Cheng, Xu

    In this dissertation, we investigate the pricing, price risk hedging/arbitrage, and simplified system modeling for a centralized LMP-based electricity market. In an LMP-based market model, the full AC power flow model and the DC power flow model are most widely used to represent the transmission system. We investigate the differences of dispatching results, congestion pattern, and LMPs for the two power flow models. An appropriate LMP decomposition scheme to quantify the marginal costs of the congestion and real power losses is critical for the implementation of financial risk hedging markets. However, the traditional LMP decomposition heavily depends on the slack bus selection. In this dissertation we propose a slack-independent scheme to break LMP down into energy, congestion, and marginal loss components by analyzing the actual marginal cost of each bus at the optimal solution point. The physical and economic meanings of the marginal effect at each bus provide accurate price information for both congestion and losses, and thus the slack-dependency of the traditional scheme is eliminated. With electricity priced at the margin instead of the average value, the market operator typically collects more revenue from power sellers than that paid to power buyers. According to the LMP decomposition results, the revenue surplus is then divided into two parts: congestion charge surplus and marginal loss revenue surplus. We apply the LMP decomposition results to the financial tools, such as financial transmission right (FTR) and loss hedging right (LHR), which have been introduced to hedge against price risks associated to congestion and losses, to construct a full price risk hedging portfolio. The two-settlement market structure and the introduction of financial tools inevitably create market manipulation opportunities. We investigate several possible market manipulation behaviors by virtual bidding and propose a market monitor approach to identify and quantify such

  12. Forecasting the term structure of crude oil futures prices with neural networks

    Czech Academy of Sciences Publication Activity Database

    Baruník, Jozef; Malinská, B.

    2016-01-01

    Roč. 164, č. 1 (2016), s. 366-379 ISSN 0306-2619 R&D Projects: GA ČR(CZ) GBP402/12/G097 Institutional support: RVO:67985556 Keywords : Term structure * Nelson–Siegel model * Dynamic neural networks * Crude oil futures Subject RIV: AH - Economics Impact factor: 7.182, year: 2016 http://library.utia.cas.cz/separaty/2016/E/barunik-0453168.pdf

  13. The Pricing puzzle: The default term structure of collateralised loan obligations

    OpenAIRE

    Jobst, Andreas A.

    2002-01-01

    Ambivalence in the regulatory definition of capital adequacy for credit risk has recently stirred the financial services industry to collateral loan obligations (CLOs) as an important balance sheet management tool. CLOs represent a specialised form of Asset-Backed Securitisation (ABS), with investors acquiring a structured claim on the interest proceeds generated from a portfolio of bank loans in the form of tranches with different seniority. By way of modelling Merton-type risk-neutral asset...

  14. Fortified settlement Veletin

    Directory of Open Access Journals (Sweden)

    Jovanović Vojislav S.

    2003-01-01

    Full Text Available Remnants of the fortified settlement Veletin are located on a hill of the same name (map marking 969 near the small town Janjevo, in the vicinity of the Monastery Gračanica in Kosovo, in a region rich in metal ore (pic. 1-3. Veletin is mentioned for the first time as a landmark in King Milutin’s charter for the Monastery Gračanica issued in 1321. Namely, the boundary of villages donated to the monastery ran "from Oštri vrh on Veletjen between Sušica and between Gušterica". Villages of Sušica and Gušterica still exist under the same names. The mentioned Veletin refers to the hill with a fortified settlement or fortress at the top. In the past the hill and the fortress were for a long time a characteristic part of the historical landscape. Thanks to its favourable geostrategic position, vicinity of important roads and above all to the nearness of rich silver mines, the hill of Veletin was settled and fortified in pre-historic time, then in antiquity and in the middle ages. It is supposed that the Roman town Ulpiana (Justiniana Secunda, near the Monastery Gračanica, developed because of the vicinity of silver mines and that as a municipium became a center of administration of Janjevo - Novo Brdo metals in the II c. Mining reached its peak in this area only in the first half of the XV c., during the reign of Serbian despots. When this part of Serbia fell under Turkish rule in 1455, mining began to decline. In 1488, during the reign of Sultan Bajazet II, special regulations were made for the organization of work in Janjevo silver mines, which testify about their importance. It is hard to form an opinion about the appearance of Veletin at the time the Gračanica Charter was issued. Mining was growing at that time and it is possible that there was a fortress with a small crew to protect Janjevo and other nearby mining settlements. Veletin is explicitly mentioned as a fortress only in three cartographic sources of a later date. The first was

  15. 7 CFR 1427.21 - Settlement.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 10 2010-01-01 2010-01-01 false Settlement. 1427.21 Section 1427.21 Agriculture... § 1427.21 Settlement. (a) The settlement of cotton loans will be made by CCC on the basis of the quality... maximum storage credit rates as determined and announced by CCC. (b) For purposes of settlements for...

  16. 39 CFR 962.26 - Settlement.

    Science.gov (United States)

    2010-07-01

    ... 39 Postal Service 1 2010-07-01 2010-07-01 false Settlement. 962.26 Section 962.26 Postal Service... CIVIL REMEDIES ACT § 962.26 Settlement. (a) Either party may make offers of settlement or proposals of... settlement terms to the Attorney General, as appropriate. [59 FR 51860, Oct. 13, 1994] ...

  17. 49 CFR 1016.306 - Settlement.

    Science.gov (United States)

    2010-10-01

    ... 49 Transportation 8 2010-10-01 2010-10-01 false Settlement. 1016.306 Section 1016.306... Settlement. The applicant and agency counsel may agree on a proposed settlement of the award before final action on the application, either in connection with a settlement of the underlying proceeding, or after...

  18. 49 CFR 826.35 - Settlement.

    Science.gov (United States)

    2010-10-01

    ... 49 Transportation 7 2010-10-01 2010-10-01 false Settlement. 826.35 Section 826.35 Transportation... Settlement. The applicant and agency counsel may agree on a proposed settlement of the award before final action on the application, either in connection with a settlement of the underlying proceeding, or after...

  19. 17 CFR 148.25 - Settlement.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Settlement. 148.25 Section 148... Considering Applications § 148.25 Settlement. The applicant may propose settlement of the award to the Commission before final action on the application, either in connection with a settlement of the adjudicatory...

  20. 49 CFR 511.26 - Settlement.

    Science.gov (United States)

    2010-10-01

    ... 49 Transportation 6 2010-10-01 2010-10-01 false Settlement. 511.26 Section 511.26 Transportation...; Summary Judgment; Settlement § 511.26 Settlement. (a) Applicability. This section applies only to cases of..., 89 Stat. 911 (15 U.S.C. section 2007(3)). Settlement in other cases may be made only in accordance...

  1. 31 CFR 501.710 - Settlement.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 3 2010-07-01 2010-07-01 false Settlement. 501.710 Section 501.710... the Enemy Act (TWEA) Penalties § 501.710 Settlement. (a) Availability. Either the Director or any..., propose an offer of settlement. The amount accepted in settlement may be less than the civil penalty that...

  2. 47 CFR 1.1525 - Settlement.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 1 2010-10-01 2010-10-01 false Settlement. 1.1525 Section 1.1525... Settlement. The applicant and Bureau counsel may agree on a proposed settlement of the award before final action on the application, either in connection with a settlement of the underlying proceeding, or after...

  3. 7 CFR 1.198 - Settlement.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 1 2010-01-01 2010-01-01 false Settlement. 1.198 Section 1.198 Agriculture Office of....198 Settlement. The applicant and agency counsel may agree on a proposed settlement of the award before final action on the application, either in connection with a settlement of the underlying...

  4. 24 CFR 14.320 - Settlement.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 1 2010-04-01 2010-04-01 false Settlement. 14.320 Section 14.320... Applications § 14.320 Settlement. The applicant and agency counsel may agree on a proposed settlement of the award before final action on the application, either in connection with a settlement of the underlying...

  5. 10 CFR 851.41 - Settlement.

    Science.gov (United States)

    2010-01-01

    ... 10 Energy 4 2010-01-01 2010-01-01 false Settlement. 851.41 Section 851.41 Energy DEPARTMENT OF ENERGY WORKER SAFETY AND HEALTH PROGRAM Enforcement Process § 851.41 Settlement. (a) DOE encourages settlement of a proceeding under this subpart at any time if the settlement is consistent with this part. The...

  6. 29 CFR 2200.100 - Settlement.

    Science.gov (United States)

    2010-07-01

    ... 29 Labor 9 2010-07-01 2010-07-01 false Settlement. 2200.100 Section 2200.100 Labor Regulations... Miscellaneous Provisions § 2200.100 Settlement. (a) Policy. Settlement is permitted and encouraged by the... parties include any particular language in a settlement agreement, but does require that the agreement...

  7. 14 CFR 15.109 - Settlements.

    Science.gov (United States)

    2010-01-01

    ... 14 Aeronautics and Space 1 2010-01-01 2010-01-01 false Settlements. 15.109 Section 15.109... Act of 1958 § 15.109 Settlements. (a) A publisher may not settle a claim with another party, for which... publisher submits a copy of the proposed settlement, and a statement justifying the settlement, to the Chief...

  8. 16 CFR 1025.26 - Settlements.

    Science.gov (United States)

    2010-01-01

    ... 16 Commercial Practices 2 2010-01-01 2010-01-01 false Settlements. 1025.26 Section 1025.26... PROCEEDINGS Prehearing Procedures, Motions, Interlocutory Appeals, Summary Judgments, Settlements § 1025.26 Settlements. (a) Availability. Any party shall have the opportunity to submit an offer of settlement to the...

  9. 10 CFR 12.305 - Settlement.

    Science.gov (United States)

    2010-01-01

    ... 10 Energy 1 2010-01-01 2010-01-01 false Settlement. 12.305 Section 12.305 Energy NUCLEAR... Considering Applications § 12.305 Settlement. The applicant and the NRC counsel may agree on a proposed settlement of the award before final action on the application, either in connection with a settlement of the...

  10. 10 CFR 590.309 - Settlements.

    Science.gov (United States)

    2010-01-01

    ... 10 Energy 4 2010-01-01 2010-01-01 false Settlements. 590.309 Section 590.309 Energy DEPARTMENT OF... RESPECT TO THE IMPORT AND EXPORT OF NATURAL GAS Procedures § 590.309 Settlements. The parties may conduct settlement negotiations. If settlement negotiations are conducted during a conference, at the request of one...

  11. 7 CFR 1434.19 - Settlement.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 10 2010-01-01 2010-01-01 false Settlement. 1434.19 Section 1434.19 Agriculture... FOR HONEY § 1434.19 Settlement. The value of the settlement of loans shall be made by CCC on the... commodity: (1) If the value of the collateral at settlement is less than the amount due, the producer shall...

  12. 17 CFR 171.12 - Settlement.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Settlement. 171.12 Section 171... RESPONSIBILITY ACTIONS General Provisions § 171.12 Settlement. At any time before the Commission has reached a... settlement agreement. If, in its view, the settlement is consistent with the public interest, the Commission...

  13. 12 CFR 747.612 - Settlement.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Settlement. 747.612 Section 747.612 Banks and... Board Adjudications § 747.612 Settlement. The applicant and counsel for NCUA may agree on a proposed settlement of the award before final action on the application, either in connection with a settlement of the...

  14. Transfer Pricing

    DEFF Research Database (Denmark)

    Rohde, Carsten; Rossing, Christian Plesner

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

  15. 29 CFR 18.9 - Consent order or settlement; settlement judge procedure.

    Science.gov (United States)

    2010-07-01

    ... has sole discretion to decide whether to appoint a settlement judge, except that a settlement judge... assigned to hear and decide the case. (ii) The settlement judge shall not be appointed to hear and decide... 29 Labor 1 2010-07-01 2010-07-01 true Consent order or settlement; settlement judge procedure. 18...

  16. Mesoscopic Community Structure of Financial Markets Revealed by Price and Sign Fluctuations.

    Science.gov (United States)

    Almog, Assaf; Besamusca, Ferry; MacMahon, Mel; Garlaschelli, Diego

    2015-01-01

    The mesoscopic organization of complex systems, from financial markets to the brain, is an intermediate between the microscopic dynamics of individual units (stocks or neurons, in the mentioned cases), and the macroscopic dynamics of the system as a whole. The organization is determined by "communities" of units whose dynamics, represented by time series of activity, is more strongly correlated internally than with the rest of the system. Recent studies have shown that the binary projections of various financial and neural time series exhibit nontrivial dynamical features that resemble those of the original data. This implies that a significant piece of information is encoded into the binary projection (i.e. the sign) of such increments. Here, we explore whether the binary signatures of multiple time series can replicate the same complex community organization of the financial market, as the original weighted time series. We adopt a method that has been specifically designed to detect communities from cross-correlation matrices of time series data. Our analysis shows that the simpler binary representation leads to a community structure that is almost identical with that obtained using the full weighted representation. These results confirm that binary projections of financial time series contain significant structural information.

  17. Mesoscopic Community Structure of Financial Markets Revealed by Price and Sign Fluctuations.

    Directory of Open Access Journals (Sweden)

    Assaf Almog

    Full Text Available The mesoscopic organization of complex systems, from financial markets to the brain, is an intermediate between the microscopic dynamics of individual units (stocks or neurons, in the mentioned cases, and the macroscopic dynamics of the system as a whole. The organization is determined by "communities" of units whose dynamics, represented by time series of activity, is more strongly correlated internally than with the rest of the system. Recent studies have shown that the binary projections of various financial and neural time series exhibit nontrivial dynamical features that resemble those of the original data. This implies that a significant piece of information is encoded into the binary projection (i.e. the sign of such increments. Here, we explore whether the binary signatures of multiple time series can replicate the same complex community organization of the financial market, as the original weighted time series. We adopt a method that has been specifically designed to detect communities from cross-correlation matrices of time series data. Our analysis shows that the simpler binary representation leads to a community structure that is almost identical with that obtained using the full weighted representation. These results confirm that binary projections of financial time series contain significant structural information.

  18. Settlement of uranium mill tailings

    International Nuclear Information System (INIS)

    Chen, P.K.; Guros, F.B.; Keshian, B.

    1988-01-01

    Two test embankments were constructed on top of an old tailings deposit near Ambrosia Lake, New Mexico to determine settlement characteristics of hydraulically- deposited uranium mill tailings. Before construction of the embankments, properties of in-situ tailings and foundation soils were determined using data from boreholes, piezocone soundings, and laboratory tests. These properties were used to estimate post-construction settlement of a planned disposal embankment to be constructed on the tailings. However, excessive uncertainty existed in the following: field settlement rates of saturated and unsaturated tailings, degree of preconsolidation of the upper 15 feet of tailings, and the ability of an underlying silty sand foundation layer to facilitate drainage. Thus, assurance could not be provided that differential settlements of the radon barrier and erosion protection layers would be within allowable limits should the planned disposal embankment be constructed in a single-stage

  19. Market structure, excess capacity and price movement: implications for the world oil market in the 1990s

    International Nuclear Information System (INIS)

    Iwayemi, A.

    1992-01-01

    World Oil Market developments, since the second half of the 1980s, have demonstrated again the conventional wisdom in economics that competitive production and pricing strategies have among producers, when the industry is characterized by significant excess capacity, in exerting strong downward pressure on the price. The magnitude and speed of the price falls depends not only on the size and utilization of the available excess capacity, but also on the perception of the markets as regards the degree of the imbalance between demand and supply. The impact of output competition on oil revenues in the short run depends on the magnitude of the price elasticity of demand. The most vivid illustration of this phenomenon is captured by the experience of 1986, when competition for market share among oil producers, despite the existence of about 20 per cent excess capacity, culminated in a sharp drop in price, with only a marginal improvement in demand. (author)

  20. Petroleum price

    International Nuclear Information System (INIS)

    Chevallier, B.

    2009-01-01

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

  1. Oil market prices 1989/1990

    International Nuclear Information System (INIS)

    Jenkins, G.

    1991-01-01

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

  2. Design principles of water sensitive in settlement area on the river banks

    Science.gov (United States)

    Ryanti, E.; Hasriyanti, N.; Utami, W. D.

    2018-03-01

    This research will formulate the principle of designing settlement area of Kapuas River Pontianak with the approach of water sensitive concept of urban design (WSUD) the densely populated settlement area. By using a case study the approach that is a dense settlement area located on the banks of the river with literature study techniques to formulate the aspects considered and components that are set in the design, descriptive analysis with the rationalistic paradigm for identification characteristics of the settlement in the river banks areas with consideration of WSUD elements and formulate the principles of designing water-sensitive settlement areas. This research is important to do because the problems related to the water management system in the existing riverside settlement in Pontianak has not been maximal to do. So the primary of this research contains several objectives that will be achieved that is identifying the characteristics of riverside settlement area based on consideration of design aspects of the area that are sensitive to water and the principle of designing the area so that the existing problem structure will be formulated in relation to the community’s need for infrastructure in settlement environment and formulate and develop appropriate technology guidelines for integrated water management systems in riverside settlement areas and design techniques for water-sensitive settlements (WSUD).

  3. 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

  4. Collapse settlement of wetted mine waste - two case histories

    International Nuclear Information System (INIS)

    Peterson, T.W.; Wade, N.H.

    1997-01-01

    Two separate projects, constructed on reclaimed coal mine waste at TransAlta's Highvale Mine complex in west-central Alberta, experienced significant settlements as a result of groundwater recharge. One project, a new service building for large coal haulers and other heavy mining equipment, was constructed in 1981 on a thick, compacted fly ash raft overlying 15 m of dynamically compacted mine waste. Little if any building settlement was observed for the first few years after construction at which time progressive differential settlements were experienced that were related to unanticipated groundwater recharge. The second project, the diversion of an environmentally sensitive creek away from the active mining area, involved the construction of a 1.5 km canal and a 5 m high stepped drop structure over dragline-dumped waste up to 20 m thick. Pre-compression of the mine waste beneath the drop structure was effected by water injection through a series of wells installed in the structure footprint prior to construction. This paper outlines the methods of construction, investigations conducted, confirmatory field test procedures and settlements measured at both projects and, based on the findings, provides guidelines for possible mitigative measures in reducing saturation-induced settlements in future developments on reclaimed land. 6 refs., 10 figs

  5. Pricing of new vaccines.

    Science.gov (United States)

    Lee, Bruce Y; McGlone, Sarah M

    2010-08-01

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

  6. Pricing of new vaccines

    Science.gov (United States)

    McGlone, Sarah M

    2010-01-01

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

  7. Statistical Studies of Non-price Competition in the Structure of Public Procurement in the Russian Federation

    OpenAIRE

    Svetlana Aleksandrovna Sergeeva; Alexander Alexandrovich Arionchik

    2016-01-01

    The principle of securing competition is one of the basic principles of the contract system in public procurement in the Russian Federation. The law on the contract system in procurement stipulates that the contract system in procurement is aimed at creating equal conditions to ensure competition between the parties to procurement. An important aspect is that the competition for procurement should be based on compliance with the principle of fair price and non-price competition. The purpose o...

  8. Price increase

    CERN Multimedia

    2006-01-01

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

  9. Price increase

    CERN Multimedia

    2005-01-01

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

  10. Petroleum price

    International Nuclear Information System (INIS)

    Maurice, J.

    2001-01-01

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

  11. Guidelines and criteria for planning Slovenian settlements

    Directory of Open Access Journals (Sweden)

    Andrej Pogačnik

    2001-01-01

    Full Text Available The article deals with proposals for directing settlement development and management in Slovenia on the national level. They should be integrated in the spatial order, a part of the national spatial plan. First a short chronology of research with similar topics and simultaneous critical analysis is presented. The methodology and possible models for structuring directives is elaborated. Based on recent research by domestic authors, European guidelines and own ideas, a manual was devised, dividing guidelines hierarchically between the national, regional and local level. The second part or rather different type of text attached to the manual is a glossary. It also includes an index for further research of various sources.

  12. The Initial Nine Space Settlements

    Science.gov (United States)

    Gale, Anita E.; Edwards, Richard P.

    2003-01-01

    The co-authors describe a chronology of space infrastructure development illustrating how each element of infrastructure enables development of subsequent more ambitious infrastructure. This is likened to the ``Southern California freeway phenomenon'', wherein a new freeway built in a remote area promotes establishment of gas stations, restaurants, hotels, housing, and eventually entire new communities. The chronology includes new launch vehicles, inter-orbit vehicles, multiple LEO space stations, lunar mining, on-orbit manufacturing, tourist destinations, and supporting technologies required to make it all happen. The space settlements encompassed by the chronology are in Earth orbit (L5 and L4), on the lunar surface, in Mars orbit, on the Martian surface, and in the asteroid belt. Each space settlement is justified with a business rationale for construction. This paper is based on materials developed for Space Settlement Design Competitions that enable high school students to experience the technical and management challenges of working on an industry proposal team.

  13. Landscape Features of Evciler Neighborhood as a Rural Settlement

    Directory of Open Access Journals (Sweden)

    Yekta Köse

    2017-12-01

    Full Text Available Preserved rural settlements provide information about the historical rural life. In this line of thought, this study aims to keep an account of a rural settlement before it is altered by urbanization, which is located near Ankara and in which merchandise of agricultural products in the historic markets of the city is its primary pursuit. In accordance with this purpose, a matrix was used. With this matrix, landscape identity features are assessed and elements constituting landscape features are designed in terms of their efficiency. Evciler neighborhood is chosen for study area because of its close location to the city and therefore the high risk of conversion and loss of identity under the pressure of urbanization, with respect to the change of its administrative status from village to neighborhood in correspondance with the 5216 Law on Metropolitan Municipalities. Decisions on developing and protecting distinctive features of landscape of rural settlements should include an objective considering features and identity of settlements from local to regional scale. In order to reach this objective, all dimensions of settlements’ landscape features should be understood. In conclusion, this study argues that rural settlements have been formed due to by the natural landscape and the oppurtunities offered by the natural structure whereby,this natural structure has determined various aspects of rural life from construction materials to the means of earning a living.

  14. How Are Property Investment Returns Determined? — Estimating the Micro-Structure of Asset Prices, Property Income, and Discount Rates —

    OpenAIRE

    清水, 千弘; Chihiro, Shimizu

    2014-01-01

    How exactly should one estimate property investment returns? Investors in property aim to maximize capital gains from price increases and income generated by the property. How are the returns on investment in property determined based on its characteristics, and what kind of market characteristics does it have? Focusing on the Tokyo commer-cial property market and residential property market, the purpose of this paper was to break down and measure the micro-structure of property investment re...

  15. Monitoring informal settlements using SAR polarimetry

    CSIR Research Space (South Africa)

    Kleynhans, W

    2012-10-01

    Full Text Available for settlement mapping and detection has remained largely unexplored in Southern Africa. The objective of this study is to investigate the possible role that SAR polarimetry could play in the monitoring of informal settlements....

  16. Prediction of embankment settlement over soft soils.

    Science.gov (United States)

    2009-06-01

    The objective of this project was to review and verify the current design procedures used by TxDOT : to estimate the total and rate of consolidation settlement in embankments constructed on soft soils. Methods : to improve the settlement predictions ...

  17. Marketplace pricing

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

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

  18. 17 CFR 201.240 - Settlement.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Settlement. 201.240 Section... of Practice Initiation of Proceedings and Prehearing Rules § 201.240 Settlement. (a) Availability... party to a proceeding already instituted, may, at any time, propose in writing an offer of settlement...

  19. 28 CFR 24.304 - Settlement.

    Science.gov (United States)

    2010-07-01

    ... 28 Judicial Administration 1 2010-07-01 2010-07-01 false Settlement. 24.304 Section 24.304... DEPARTMENT OF JUSTICE ADMINISTRATIVE PROCEEDINGS Procedures for Considering Applications § 24.304 Settlement. A prevailing party and Department counsel may agree on a proposed settlement of an award before...

  20. 29 CFR 101.7 - Settlements.

    Science.gov (United States)

    2010-07-01

    ... 29 Labor 2 2010-07-01 2010-07-01 false Settlements. 101.7 Section 101.7 Labor Regulations Relating... Section 10 (a) to (i) of the Act and Telegraph Merger Act Cases § 101.7 Settlements. Before any complaint... for the submission and consideration of facts, argument, offers of settlement, or proposals of...

  1. 15 CFR 18.19 - Settlement.

    Science.gov (United States)

    2010-01-01

    ... 15 Commerce and Foreign Trade 1 2010-01-01 2010-01-01 false Settlement. 18.19 Section 18.19... Procedures for Considering Applications § 18.19 Settlement. The applicant and agency counsel may agree on a proposed settlement of the award before final action on the application, either in connection with a...

  2. 49 CFR 6.29 - Settlement.

    Science.gov (United States)

    2010-10-01

    ... 49 Transportation 1 2010-10-01 2010-10-01 false Settlement. 6.29 Section 6.29 Transportation... PROCEEDINGS Procedures for Considering Applications § 6.29 Settlement. The applicant and agency counsel may agree on a proposed settlement of the award before final action on the application, either in connection...

  3. 7 CFR 1.345 - Settlement.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 1 2010-01-01 2010-01-01 false Settlement. 1.345 Section 1.345 Agriculture Office of... Under the Program Fraud Civil Remedies Act of 1986 § 1.345 Settlement. (a) A respondent may make offers of compromise of settlement at any time. (b) The reviewing official has the exclusive authority to...

  4. 22 CFR 134.25 - Settlement.

    Science.gov (United States)

    2010-04-01

    ... 22 Foreign Relations 1 2010-04-01 2010-04-01 false Settlement. 134.25 Section 134.25 Foreign... Considering Applications § 134.25 Settlement. The applicant and the Department of State may agree on a proposed settlement of the award before final action on the application, either in connection with a...

  5. 17 CFR 201.54 - Settlement.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Settlement. 201.54 Section 201... Regulations Pertaining to the Equal Access to Justice Act § 201.54 Settlement. The applicant and counsel for the Office or Division of the Commission may agree on a proposed settlement of the award before final...

  6. 40 CFR 17.24 - Settlement.

    Science.gov (United States)

    2010-07-01

    ... 40 Protection of Environment 1 2010-07-01 2010-07-01 false Settlement. 17.24 Section 17.24... JUSTICE ACT IN EPA ADMINISTRATIVE PROCEEDINGS Procedures for Considering Applications § 17.24 Settlement. A prevailing party and EPA counsel may agree on a proposed settlement of an award before final...

  7. 14 CFR 14.25 - Settlement.

    Science.gov (United States)

    2010-01-01

    ... 14 Aeronautics and Space 1 2010-01-01 2010-01-01 false Settlement. 14.25 Section 14.25 Aeronautics... IMPLEMENTING THE EQUAL ACCESS TO JUSTICE ACT OF 1980 Procedures for Considering Applications § 14.25 Settlement. The applicant and agency counsel may agree on a proposed settlement of the award before final action...

  8. 29 CFR 2704.305 - Settlement.

    Science.gov (United States)

    2010-07-01

    ... 29 Labor 9 2010-07-01 2010-07-01 false Settlement. 2704.305 Section 2704.305 Labor Regulations... Settlement. In the event that counsel for the Secretary and an applicant agree to settle an EAJA claim after... of the settlement and request dismissal of the application. [63 FR 63177, Nov. 12, 1998] ...

  9. 24 CFR 1720.180 - Settlements.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 5 2010-04-01 2010-04-01 false Settlements. 1720.180 Section 1720... Proceedings General Provisions § 1720.180 Settlements. Parties may propose in writing, at any time during the course of a proceeding, offers of settlement which shall be submitted to the Secretary. If determined to...

  10. 37 CFR 11.26 - Settlement.

    Science.gov (United States)

    2010-07-01

    ... 37 Patents, Trademarks, and Copyrights 1 2010-07-01 2010-07-01 false Settlement. 11.26 Section 11... Disciplinary Proceedings; Jurisdiction, Sanctions, Investigations, and Proceedings § 11.26 Settlement. Before or after a complaint under § 11.34 is filed, a settlement conference may occur between the OED...

  11. 39 CFR 960.17 - Settlement.

    Science.gov (United States)

    2010-07-01

    ... 39 Postal Service 1 2010-07-01 2010-07-01 false Settlement. 960.17 Section 960.17 Postal Service... ACT IN POSTAL SERVICE PROCEEDINGS Procedures for Considering Applications § 960.17 Settlement. The applicant and the Postal Service may agree on a proposed settlement of the award before final action on the...

  12. 39 CFR 958.23 - Settlement.

    Science.gov (United States)

    2010-07-01

    ... 39 Postal Service 1 2010-07-01 2010-07-01 false Settlement. 958.23 Section 958.23 Postal Service..., CLEAN-UP COSTS AND DAMAGES FOR VIOLATION OF HAZARDOUS MATERIAL REGULATIONS § 958.23 Settlement. Either party may make offers of settlement or proposals of adjustment at any time. The Determining Official has...

  13. 7 CFR 1782.20 - Debt Settlement.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 12 2010-01-01 2010-01-01 false Debt Settlement. 1782.20 Section 1782.20 Agriculture... (CONTINUED) SERVICING OF WATER AND WASTE PROGRAMS § 1782.20 Debt Settlement. Pursuant to 7 U.S.C. 1981, this section prescribes policies for debt settlement of Water and Waste Disposal loans; Watershed loans and...

  14. 5 CFR 2430.10 - Settlement.

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 3 2010-01-01 2010-01-01 false Settlement. 2430.10 Section 2430.10... FEDERAL LABOR RELATIONS AUTHORITY AWARDS OF ATTORNEY FEES AND OTHER EXPENSES § 2430.10 Settlement. The applicant and the General Counsel may agree on a proposed settlement of the award before final action on the...

  15. 19 CFR 212.24 - Settlement.

    Science.gov (United States)

    2010-04-01

    ... 19 Customs Duties 3 2010-04-01 2010-04-01 false Settlement. 212.24 Section 212.24 Customs Duties... IMPLEMENTATION OF THE EQUAL ACCESS TO JUSTICE ACT Procedures for Considering Applications § 212.24 Settlement. The applicant and the Commission may agree on a proposed settlement of the award before final action...

  16. 15 CFR 904.213 - Settlements.

    Science.gov (United States)

    2010-01-01

    ... 15 Commerce and Foreign Trade 3 2010-01-01 2010-01-01 false Settlements. 904.213 Section 904.213 Commerce and Foreign Trade Regulations Relating to Commerce and Foreign Trade (Continued) NATIONAL OCEANIC... and Appeal Procedures General § 904.213 Settlements. If settlement is reached before the Judge has...

  17. 12 CFR 1705.24 - Settlement.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 7 2010-01-01 2010-01-01 false Settlement. 1705.24 Section 1705.24 Banks and... Consideration of the Application for Award § 1705.24 Settlement. The applicant and agency counsel may agree on a proposed settlement of an award before the final decision on the application for award is made, either in...

  18. 7 CFR 1951.213 - Debt settlement.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 14 2010-01-01 2009-01-01 true Debt settlement. 1951.213 Section 1951.213 Agriculture... and Grants § 1951.213 Debt settlement. Subpart C of part 1956 of this chapter prescribes policies and procedures for debt settlement actions for loans covered under this subpart when it is determined that a debt...

  19. 24 CFR 28.45 - Settlements.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 1 2010-04-01 2010-04-01 false Settlements. 28.45 Section 28.45... IMPLEMENTATION OF THE PROGRAM FRAUD CIVIL REMEDIES ACT OF 1986 § 28.45 Settlements. (a) HUD and the respondent may enter into a settlement agreement at any time prior to the issuing of a notice of final...

  20. 10 CFR 1023.324 - Settlement.

    Science.gov (United States)

    2010-01-01

    ... 10 Energy 4 2010-01-01 2010-01-01 false Settlement. 1023.324 Section 1023.324 Energy DEPARTMENT OF... Justice Act Procedures for Considering Applications § 1023.324 Settlement. The applicant and agency counsel may agree on a proposed settlement of the award before final action on the application, either in...

  1. 24 CFR 3800.60 - Settlements.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 5 2010-04-01 2010-04-01 false Settlements. 3800.60 Section 3800... DEVELOPMENT INVESTIGATIONS IN CONSUMER REGULATORY PROGRAMS § 3800.60 Settlements. (a) At any time during an investigation, the Department and the parties subject to an investigation may conduct settlement negotiations...

  2. 14 CFR 1262.305 - Settlement.

    Science.gov (United States)

    2010-01-01

    ... 14 Aeronautics and Space 5 2010-01-01 2010-01-01 false Settlement. 1262.305 Section 1262.305... PROCEEDINGS Procedures for Considering Applications § 1262.305 Settlement. The applicant and agency counsel may agree on a proposed settlement of the award before final action on the application, either in...

  3. 15 CFR 990.25 - Settlement.

    Science.gov (United States)

    2010-01-01

    ... 15 Commerce and Foreign Trade 3 2010-01-01 2010-01-01 false Settlement. 990.25 Section 990.25... DAMAGE ASSESSMENTS Authorities § 990.25 Settlement. Trustees may settle claims for natural resource damages under this part at any time, provided that the settlement is adequate in the judgment of the...

  4. 15 CFR 280.219 - Settlement.

    Science.gov (United States)

    2010-01-01

    ... 15 Commerce and Foreign Trade 1 2010-01-01 2010-01-01 false Settlement. 280.219 Section 280.219... Enforcement § 280.219 Settlement. (a) Cases may be settled before service of a charging letter. In cases in which settlement is reached before service of a charging letter, a proposed charging letter will be...

  5. 45 CFR 13.24 - Settlements.

    Science.gov (United States)

    2010-10-01

    ... 45 Public Welfare 1 2010-10-01 2010-10-01 false Settlements. 13.24 Section 13.24 Public Welfare... ACT IN AGENCY PROCEEDINGS Procedures for Considering Applications § 13.24 Settlements. The applicant and the agency's litigating party may agree on a proposed settlement of the award at any time prior to...

  6. 17 CFR 9.7 - Settlement.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 1 2010-04-01 2010-04-01 false Settlement. 9.7 Section 9.7... DISCIPLINARY, ACCESS DENIAL OR OTHER ADVERSE ACTIONS General Provisions § 9.7 Settlement. At any time before... accordance with § 9.20, the parties may file a stipulation for dismissal based on a settlement agreement...

  7. 29 CFR 2204.306 - Settlement.

    Science.gov (United States)

    2010-07-01

    ... 29 Labor 9 2010-07-01 2010-07-01 false Settlement. 2204.306 Section 2204.306 Labor Regulations... Procedures for Considering Applications § 2204.306 Settlement. The applicant and the Secretary may agree on a proposed settlement of the award before final action on the application, either in connection with a...

  8. 13 CFR 134.217 - Settlement.

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Settlement. 134.217 Section 134... BEFORE THE OFFICE OF HEARINGS AND APPEALS Rules of Practice for Most Cases § 134.217 Settlement. At any... have settled the case, and may file with such motion a copy of the settlement agreement. If the Judge...

  9. 5 CFR 2610.306 - Settlement.

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 3 2010-01-01 2010-01-01 false Settlement. 2610.306 Section 2610.306... ACCESS TO JUSTICE ACT Procedures for Considering Applications § 2610.306 Settlement. The applicant and agency counsel may agree on a proposed settlement of the award before final action on the application...

  10. 29 CFR 16.303 - Settlement.

    Science.gov (United States)

    2010-07-01

    ... 29 Labor 1 2010-07-01 2010-07-01 true Settlement. 16.303 Section 16.303 Labor Office of the Secretary of Labor EQUAL ACCESS TO JUSTICE ACT Procedures for Considering Applications § 16.303 Settlement. The applicant and agency counsel may agree on a proposed settlement of the award before final action...

  11. 15 CFR 766.18 - Settlement.

    Science.gov (United States)

    2010-01-01

    ... 15 Commerce and Foreign Trade 2 2010-01-01 2010-01-01 false Settlement. 766.18 Section 766.18... PROCEEDINGS § 766.18 Settlement. (a) Cases may be settled before service of a charging letter. In cases in which settlement is reached before service of a charging letter, a proposed charging letter will be...

  12. 12 CFR 625.20 - Settlement.

    Science.gov (United States)

    2010-01-01

    ... 12 Banks and Banking 6 2010-01-01 2010-01-01 false Settlement. 625.20 Section 625.20 Banks and... UNDER THE EQUAL ACCESS TO JUSTICE ACT Procedures for Considering Applications § 625.20 Settlement. A prevailing party and the FCA through its counsel may agree on a proposed settlement of an award at any time...

  13. 7 CFR 1951.894 - Debt settlement.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 14 2010-01-01 2009-01-01 true Debt settlement. 1951.894 Section 1951.894 Agriculture... REGULATIONS (CONTINUED) SERVICING AND COLLECTIONS Rural Development Loan Servicing § 1951.894 Debt settlement. Debt settlement of all claims will be handled in accordance with the Federal Claims Collection...

  14. Settlement during vibratory sheet piling

    NARCIS (Netherlands)

    Meijers, P.

    2007-01-01

    During vibratory sheet piling quite often the soil near the sheet pile wall will settle. In many cases this is not a problem. For situations with houses, pipelines, roads or railroads at relative short distance these settlements may not be acceptable. The purpose of the research described in this

  15. The Density of Sustainable Settlements

    DEFF Research Database (Denmark)

    Lauring, Michael; Silva, Victor; Jensen, Ole B.

    2010-01-01

    This paper is the initial result of a cross-disciplinary attempt to encircle an answer to the question of optimal densities of sustainable settlements. Urban density is an important component in the framework of sustainable development and influences not only the character and design of cities...

  16. The influence of substrate material on ascidian larval settlement.

    Science.gov (United States)

    Chase, Anna L; Dijkstra, Jennifer A; Harris, Larry G

    2016-05-15

    Submerged man-made structures present novel habitat for marine organisms and often host communities that differ from those on natural substrates. Although many factors are known to contribute to these differences, few studies have directly examined the influence of substrate material on organism settlement. We quantified larval substrate preferences of two species of ascidians, Ciona intestinalis (cryptogenic, formerly C. intestinalis type B) and Botrylloides violaceus (non-native), on commonly occurring natural (granite) and man-made (concrete, high-density polyethylene, PVC) marine materials in laboratory trials. Larvae exhibited species-specific settlement preferences, but generally settled more often than expected by chance on concrete and HDPE. Variation in settlement between materials may reflect preferences for rougher substrates, or may result from the influence of leached chemicals on ascidian settlement. These findings indicate that an experimental plate material can influence larval behavior and may help us understand how substrate features may contribute to differences in settlement in the field. Copyright © 2016 Elsevier Ltd. All rights reserved.

  17. Electricity pricing

    International Nuclear Information System (INIS)

    Wijayatunga, P.D.C.

    1994-01-01

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

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

    NARCIS (Netherlands)

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

    2010-01-01

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

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

    NARCIS (Netherlands)

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

    2017-01-01

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

  20. Spatial price dynamics: From complex network perspective

    Science.gov (United States)

    Li, Y. L.; Bi, J. T.; Sun, H. J.

    2008-10-01

    The spatial price problem means that if the supply price plus the transportation cost is less than the demand price, there exists a trade. Thus, after an amount of exchange, the demand price will decrease. This process is continuous until an equilibrium state is obtained. However, how the trade network structure affects this process has received little attention. In this paper, we give a evolving model to describe the levels of spatial price on different complex network structures. The simulation results show that the network with shorter path length is sensitive to the variation of prices.

  1. The determinants of oil prices

    International Nuclear Information System (INIS)

    Angelier, J-P.

    1991-01-01

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

  2. A study of Canadian retail gasoline prices

    International Nuclear Information System (INIS)

    Eckert, A.L.

    1999-05-01

    Retail gasoline pricing in Canadian markets was examined to demonstrate why retail prices tend to follow one of two distinct patterns and that neither pattern is observable in the wholesale price. In many cities, retail prices are more rigid than wholesale prices, while in other markets, retail prices follow a cyclic pattern not seen in wholesale prices. This study examined why constant prices are observed in some cities, while other cities have cyclic prices. Theoretical justification was given to the argument that prices will remain constant only in markets in which there are only few gasoline companies with a small number of stations, but a large per-station capacity. It was shown that when one firm operates significantly more stations than its rival, a constant cost equilibrium cannot be maintained. However, a cycle equilibrium can be constructed in this case, and also when the two companies are similarly sized. An initial examination of available price, cost and market structure data shows that there is a positive correlation between price stability and concentration. The response of retail prices to wholesale price movements in the presence of a retail price cycle was also examined through the use of a simple model based on the predictions of the above theory. Data for the city of Windsor, Ontario was used for the modelling approach. A new cycle is created by an increase in price whenever the distance between the previous retail price and the current wholesale prices is very small. Retail prices are more responsive to wholesale prices over the increasing portion of the cycle. It was shown that when the asymmetric error correction model of Borenstein, Cameron and Gilbert is estimated, it indicates a more rapid response to wholesale price increases than to decreases. 72 refs., 22 tabs., 8 figs

  3. Anthropological Aspects of Alcohol Trade in Microsocieties of Chukotka National Settlements

    Directory of Open Access Journals (Sweden)

    Anastasiya Yarzutkina

    2016-12-01

    Full Text Available The aim of the report is to describe the communicative culture that has been established between the home-made vodka traders (home-distilled vodka producers, alcohol buyers and activists fighting for temperance in national settlements of Chukotka. Informal economic relations take place within particular settlements; the main thing that is involved in these relations is alcohol. Outside the settlement the connections between traders and buyers do not work and the network of interactions breaks. To mark out the participants in the alcohol trade the report presents the structure of settlement microsociety in Chukotka from a very generalised perspective, based on author's experience of staying in these settlements and on some statistical data.

  4. Impacts of the Master Settlement Agreement on the tobacco industry.

    Science.gov (United States)

    Sloan, F A; Mathews, C A; Trogdon, J G

    2004-12-01

    To assess effects of the Master Settlement Agreement (MSA) and the four individual state settlements on tobacco company decisions and performance. 10-K reports filed with the US Securities and Exchange Commission, firm and daily data from the Center for Research in Security Prices, stock price indices, market share and advertising data, cigarette export and domestic consumption data, and newspaper articles were used to assess changes before (1990-98) and after (1999-2002) the MSA was implemented. Five major tobacco manufacturers in the USA. Stockholder returns, operating performance of defendant companies, exports, market share of the original participants in the MSA, and advertising/promotion expenditures. Returns to investments in the tobacco industry exceeded returns from investments in securities of other companies, using each of four indexes as comparators. Domestic tobacco revenues increased during 1999-2002 from pre-MSA levels. Profits from domestic sales rose from levels prevailing immediately before the MSA. There is no indication that the MSA caused an increase in tobacco exports. Total market share of the original participating manufacturers in the MSA decreased. Total advertising expenditures by the tobacco companies increased at a higher rate than the 1990-98 trend during 1999-2002, but total advertising expenditures net of spending on coupons and promotions decreased. The experience during the post-MSA period demonstrates that the MSA did no major harm to the companies. Some features of the MSA appear to have increased company value and profitability.

  5. The oil price

    International Nuclear Information System (INIS)

    Alba, P.

    2000-01-01

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

  6. Water Loss in Small Settlements

    OpenAIRE

    Mindaugas Rimeika; Anželika Jurkienė

    2014-01-01

    The main performance indicators of a water supply system include the quality and safety of water, continuous work, relevant pressure and small water loss. The majority of foreign and local projects on reducing water loss have been carried out in the water supply systems of metropolitans; however, the specificity of small settlements differs from that of big cities. Differences can be observed not only in the development of infrastructure and technical indicators but also in the features of wa...

  7. Price-elastic demand in deregulated electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Siddiqui, Afzal S.

    2003-05-01

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

  8. Mesolithic settlement and activities in rockshelters of the Kamenice river canyon, Czech Republic

    Czech Academy of Sciences Publication Activity Database

    Svoboda, Jiří; Hajnalová, M.; Horáček, I.; Novák, Martin; Přichystal, A.; Šajnerová, A.; Yaroshevich, A.

    2007-01-01

    Roč. 5, č. 1 (2007), s. 95-127 ISSN 1730-8518 Institutional research plan: CEZ:AV0Z80010507 Keywords : Mesolithic * Northern Bohemia * Kamenice * settlement structure Subject RIV: AC - Archeology, Anthropology, Ethnology

  9. Pricing offshore wind power

    International Nuclear Information System (INIS)

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

    2011-01-01

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

  10. Higher prices at Canadian gas pumps: international crude oil prices or local market concentration? An empirical investigation

    International Nuclear Information System (INIS)

    Anindya Sen

    2003-01-01

    There is little consensus on whether higher retail gasoline prices in Canada are the result of international crude oil price fluctuations or local market power exercised by large vertically-integrated firms. I find that although both increasing local market concentration and higher average monthly wholesale prices are positively and significantly associated with higher retail prices, wholesale prices are more important than local market concentration. Similarly, crude oil prices are more important than the number of local wholesalers in determining wholesale prices. These results suggest that movements in gasoline prices are largely the result of input price fluctuations rather than local market structure. (author)

  11. OPTIMAL PRICING OF A PERSONALIZED PRODUCT

    Institute of Scientific and Technical Information of China (English)

    Suresh P.SETHI

    2008-01-01

    This paper deals with optimal pricing of a personalized product such as a personal portrait or photo.A new model of the pricing structure inspired by two real-life cases is introduced to the literature and solved to obtain optimal photo sitting fees and the final product price.A sensitivity analysis with respect to the problem parameters is performed.

  12. 26 CFR 301.6224(c)-3 - Consistent settlements.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 18 2010-04-01 2010-04-01 false Consistent settlements. 301.6224(c)-3 Section... settlements. (a) In general. If the Internal Revenue Service enters into a settlement agreement with any..., settlement terms consistent with those contained in the settlement agreement entered into. (b) Requirements...

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

    Science.gov (United States)

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

    2011-12-01

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

  14. Newer Demographic Development of the Settlement of Murter

    Directory of Open Access Journals (Sweden)

    Sonja Podgorelec

    1998-10-01

    Full Text Available Murter is the largest settlement on the same-named island and also in the entire Šibenik archipelago. As opposed to most of the settlements on the island, its population was less involved in earlier emigration flows, whereas newer emigration began to effect Murter only after the sixties. The effect of the depopulation period is visible in the changes of the age-sex structure, where can be seen primarily in ageing of the population and a disproportion in the sex ratio. Yet it can be confirmed that the settlement of Murter has not such an unfavourable demographic situation as do most Dalmatian islands. A slightly falling birth rate can be noticed, as well as a slight increase in the death rate. The demographic perspective of this population is relatively favourable (due to an expected development of tourism, development of agriculture and trades, nautical infrastructures etc., if addition emigration factors will not come into play. Based on a multiple-criteria evaluation of developmental levels, the island of Murter, primarily due to the central position of the settlement Murter, is ranked 11th out of 47 Croatian islands. The reason is that all higher ranked islands also have a significantly larger area.

  15. PRICES - PREREQUISITE OF MARKET DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    VĂDUVA MARIA

    2017-08-01

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

  16. Pricing of temperature index insurance

    Directory of Open Access Journals (Sweden)

    Che Mohd Imran Che Taib

    2012-01-01

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

  17. The Pricing of natural gas

    International Nuclear Information System (INIS)

    Nese, Gjermund

    2004-11-01

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

  18. Energy prices and taxes

    International Nuclear Information System (INIS)

    2004-01-01

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

  19. MARKET ECONOMICS PRICING PARTICULARS

    Directory of Open Access Journals (Sweden)

    V. I. Parshin

    2011-01-01

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

  20. Livelihoods of squatter settlements : analysis from tenure perspective

    NARCIS (Netherlands)

    Shrestha, Ashokkumar; Nepali, Purna; Panday, U.S.; Shrestha, Reshma

    2017-01-01

    Squatter settlements are inevitable in most of the urban areas. Livelihood situation of squatter settlements seem poor, vulnerable and miserable. Living condition in these settlements suffered from overcrowding, inadequate accommodation, limited access to clean water and sanitation, lack of proper

  1. The Benefits and Risks of Virtual Bidding in Multi-Settlement Markets

    International Nuclear Information System (INIS)

    Isemonger, Alan G.

    2006-01-01

    While it is possible that multi-settlement markets can exist without virtual trading, it is equally clear that virtual trading can provide many market benefits. The main one: In the absence of explicit virtual bidding (EVB), the price arbitrage trades that are benign in other commodity markets affect the reliability of the underlying electricity markets, resulting in a situation where EVB is most useful when it neutralizes the deleterious reliability effects of implicit virtual bidding and physical arbitrage. (author)

  2. NATURE-RURAL SETTLEMENT INTERACTIONS

    Directory of Open Access Journals (Sweden)

    Zehra Eminağaoğlu

    2006-04-01

    Full Text Available Conservation and management of natural environments are generally brought up upon adverse developments against nature in the humannature interactions. Although individual actions are often considered to be more immediate innatıre-related issuesi ecologic problems tend to spread in time and lead to reginol or even global problems. For this reason, it stands imperative that economic, ecologic and aesthetic values of the environment we live in be protected and used sustainably. Being the scene of nature and the environment landscape signifies the whole with living and nonliving entities where we live in. Dameged and destroyed landscape scenes particularly in urban areas necessitaites the reconsideration of human-nature relations and nature-frendly life style. This study investigates the rural settlements that show harmony with nature and reflects qualities of natural environments on the dwellings. Particularly, with the examples of drawing and pictures it examines the associatiation of rural settlements with nature as well as the use of the green as an occasional or spacial element.

  3. Problems and Alternatives of Settlement Lagoons for Mine Water Treatment System

    Science.gov (United States)

    Lee, Dong-Kil

    2015-04-01

    A field test and computational flow analysis were conducted to identify the structural problems with existing settlement lagoons and to propose effective alternatives. When it comes to existing settlement lagoons without any specifically designed internal structure, mine water flows along a specific route while other regions remained stagnant. Such a flow pattern along a specific region causes a significant reduction in retention time as well as the ineffective use of the space in a settlement lagoon. When applying the modified settlement lagoon design proposed in this study, the flow distribution of mine drainage became uniform and the time taken for mine drainage to reach the outlet was improved by as much as 360 times and the exchange efficiency was significantly enhanced from 14.5% to 82.7%.

  4. 7 CFR 1427.172 - Settlement.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 10 2010-01-01 2010-01-01 false Settlement. 1427.172 Section 1427.172 Agriculture Regulations of the Department of Agriculture (Continued) COMMODITY CREDIT CORPORATION, DEPARTMENT OF AGRICULTURE LOANS, PURCHASES, AND OTHER OPERATIONS COTTON Recourse Seed Cotton Loans § 1427.172 Settlement. (a...

  5. 5 CFR 838.135 - Settlements.

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 2 2010-01-01 2010-01-01 false Settlements. 838.135 Section 838.135 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT (CONTINUED) CIVIL SERVICE REGULATIONS (CONTINUED) COURT... § 838.135 Settlements. (a) OPM must comply with the terms of a properly filed court order acceptable for...

  6. 42 CFR 402.17 - Settlement.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 2 2010-10-01 2010-10-01 false Settlement. 402.17 Section 402.17 Public Health CENTERS FOR MEDICARE & MEDICAID SERVICES, DEPARTMENT OF HEALTH AND HUMAN SERVICES GENERAL PROVISIONS CIVIL MONEY PENALTIES, ASSESSMENTS, AND EXCLUSIONS General Provisions § 402.17 Settlement. CMS or OIG has...

  7. 45 CFR 150.413 - Settlement.

    Science.gov (United States)

    2010-10-01

    ... 45 Public Welfare 1 2010-10-01 2010-10-01 false Settlement. 150.413 Section 150.413 Public Welfare DEPARTMENT OF HEALTH AND HUMAN SERVICES REQUIREMENTS RELATING TO HEALTH CARE ACCESS CMS ENFORCEMENT IN GROUP AND INDIVIDUAL INSURANCE MARKETS Administrative Hearings § 150.413 Settlement. CMS has exclusive...

  8. 42 CFR 1003.126 - Settlement.

    Science.gov (United States)

    2010-10-01

    ... 42 Public Health 5 2010-10-01 2010-10-01 false Settlement. 1003.126 Section 1003.126 Public Health OFFICE OF INSPECTOR GENERAL-HEALTH CARE, DEPARTMENT OF HEALTH AND HUMAN SERVICES OIG AUTHORITIES CIVIL MONEY PENALTIES, ASSESSMENTS AND EXCLUSIONS § 1003.126 Settlement. The Inspector General has exclusive...

  9. 20 CFR 498.126 - Settlement.

    Science.gov (United States)

    2010-04-01

    ... 20 Employees' Benefits 2 2010-04-01 2010-04-01 false Settlement. 498.126 Section 498.126 Employees' Benefits SOCIAL SECURITY ADMINISTRATION CIVIL MONETARY PENALTIES, ASSESSMENTS AND RECOMMENDED EXCLUSIONS § 498.126 Settlement. The Inspector General has exclusive authority to settle any issues or case...

  10. 5 CFR 838.1018 - Settlements.

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 2 2010-01-01 2010-01-01 false Settlements. 838.1018 Section 838.1018 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT (CONTINUED) CIVIL SERVICE REGULATIONS (CONTINUED) COURT... Settlements. The former spouse may request that an amount be withheld from the retirement benefits that is...

  11. Internalization, Clearing and Settlement, and Liquidity

    NARCIS (Netherlands)

    Degryse, H.A.; van Achter, M.; Wuyts, G.

    2012-01-01

    Abstract: We study the relation between liquidity in financial markets and post-trading fees (i.e. clearing and settlement fees). The clearing and settlement agent (CSD) faces different marginal costs for different types of transactions. Costs are lower for an internalized transaction, i.e. when

  12. Improving settlement type classification of aerial images

    CSIR Research Space (South Africa)

    Mdakane, L

    2014-10-01

    Full Text Available , an automated method can be used to help identify human settlements in a fixed, repeatable and timely manner. The main contribution of this work is to improve generalisation on settlement type classification of aerial imagery. Images acquired at different dates...

  13. Price formation and market mechanisms

    International Nuclear Information System (INIS)

    Neff, T.L.

    1991-01-01

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

  14. Use of illicit drugs by adolescents and young adults of an urban settlement in Brazil

    OpenAIRE

    Guimarães, Rafael Alves; Souza, Márcia Maria de; Caetano, Karlla Antonieta Amorim; Teles, Sheila Araujo; Matos, Marcos André de

    2018-01-01

    Summary Objective: To estimate the prevalence and factors associated with illicit drug use by adolescents and young adults of a formal urban settlement. Method: Cross-sectional study including adolescents and young adults 12-24 years of an urban settlement in the Midwest Region of Brazil. Data were collected using a structured questionnaire and analyzed using Stata, version 12.0. We used Poisson regression model to estimate the factors associated with illicit drug use. Results: Of the tota...

  15. Reserve price: Lessons learned from Brazilian electricity procurement auctions

    International Nuclear Information System (INIS)

    Rego, Erik Eduardo

    2013-01-01

    Auctions have been used in several formats in the electric energy industry. In general, regulators may be uncomfortable initiating a reverse auction at a higher-than-expected final price, fearing that participants may sell their energy at an excess profitability. Nevertheless, evidence from electricity procurement auctions conducted in Brazil supports the findings that these types of auctions have the opposite effect. By attracting a larger number of agents, these auctions can trigger stronger competition and lead to lower settlement pricing. Accordingly, the Brazilian cases examined in this article present significant evidence to support this directional theory. In fact, there are some cases of electricity procurement auctions that show that inadequate auction reserve pricing leads to inefficient outcomes and may also cause the auction to fail. On the other hand, auctions with adequate price caps have led to lower final clearing prices, thus contributing to reasonable final energy pricing. - Highlights: • Outcomes from Brazilian electricity procurement auctions were analyzed. • Cases of success and frustration after adopting (in)adequate reserve prices. • Setting different price caps per source is inefficient. • Higher-than-normal price cap is more effective than fine-tuning reserve prices

  16. Typology of Slum Management in Coastal Settlement as a Reference of Neighborhood Planning in Konawe

    Science.gov (United States)

    Santi; Bachrun, Ratna; Ornam, Kurniati

    2017-05-01

    Handling slum area actually needs to be done not only in slum areas that are part of a metropolitan city or a large town, but it also need to be conducted in the slum areas in the middle city, small town, and coastal areas. A slum generally includes physical condition, socio-economic conditions of cultural communities who live in the settlements, and the impact of both of these conditions. Environmental coastal settlements in Konawe located in the riverside that lead to loss of quality due to environmental stress of the condition of settlement that are not habitable, can be seen from the problems that exist, namely the existence of housing that goes into river body which causes malfunction of watershed river (DAS), and that is prone to flooding. The purpose of this study is to identify slums in coastal settlements in an effort to improve the quality of structured settlements to obtain a picture of the slum in Konawe, to know the problems regarding the existence of slums and future recommendation of the slum settlement in Konawe. Normative analysis was carried out in this research together with quantitative and qualitative description, as well as methods of spatial analysis (spatial). Identification of slum areas was analyzed based on indicators and parameters issued by the Directorate General of Human Settlements. Problems in some districts in Konawe located in the coastal rivers and coastal areas, consist of drainage, disposal of waste water, waste, and the settlement which is not in accordance with the Spatial Konawe. Among those, there are settlements categorized as slums and some are recommended for refurbishment.

  17. End user prices in liberalised energy markets

    Energy Technology Data Exchange (ETDEWEB)

    Lijesen, M.G. [Afdeling Energie en Grondstoffen, Centraal Planbureau CPB, Den Haag (Netherlands)

    2002-12-01

    As European energy markets move towards deregulation, energy prices shift from classic 'cost plus' prices towards market prices. We develop a model for the retail and wholesale energy markets in Europe, based on Bertrand competition in a two part pricing structure with switching costs. We use the model to forecast end user electricity and natural gas prices and find that the introduction of competition in energy retail and wholesale markets will decrease standing charges, lowering total costs for energy users. A larger number of entrants, a cost advantage for one of the suppliers, or lower switching costs reduces standing charges further.

  18. Decontamination strategies in contaminated settlement

    International Nuclear Information System (INIS)

    Hubert, P.; Jouve, A.; Tallec, V. Le

    1996-01-01

    Six years after the Chernobyl accident, decontamination actions had been completed in many places, the contamination could be considered as fixed, especially on urban surfaces and the social situation was felt to be stabilized. Under those conditions the efficiency of the 'classical' decontamination techniques was under question, it was worthwhile to look at new specific techniques. Besides it was necessary to discuss the interest of new decontamination actions in settlements. The European Union (EU) sponsored a project ECP 4 in order to look at the opportunities for further dose reduction actions in the contaminated territories of the three republics affected by the accident. The objective was to provide a local decision maker, faced with many alternatives for decontamination, with all the elements for determining what to do according to the various objectives he might pursue. The main results are presented here. (author)

  19. The process of negotiating settlements at FERC

    International Nuclear Information System (INIS)

    Littlechild, Stephen

    2012-01-01

    Interstate gas pipelines and their customers presently settle about 90% of the rate cases set for hearing before the Federal Energy Regulatory Commission (FERC). The conventional regulatory litigation process is now only an occasional means of dispute resolution. This paper explains the settlement process, illustrating with the 12 section 4 rate cases brought by pipelines from 2008 and 2009. The paper also discusses and illustrates why parties prefer settlement to litigation, what difference it makes, which cases tend to settle, what might account for the increasing frequency of settlements over time, the recent phenomenon of pre-filing settlements and the recent settlement of section 5 cases brought by FERC. In contrast to many other regulatory jurisdictions, FERC Trial Staff play an active role in facilitating negotiation and settlement. They make an initial analysis 3 months after a pipeline files for a tariff rate increase. Thereafter, the regulatory aim is to bring the parties into agreement, not to determine an outcome and impose it upon them. This is a different role for the regulatory body than was previously apparent. - Highlights: ► About 90% of FERC rate cases are settled, not litigated. ► FERC Trial Staff play an active role in facilitating negotiation and settlement. ► Conventional regulation is now only an occasional means of dispute resolution. ► The paper also discusses which cases settle and what difference it makes.

  20. Biological challenges of true space settlement

    Science.gov (United States)

    Mankins, John C.; Mankins, Willa M.; Walter, Helen

    2018-05-01

    "Space Settlements" - i.e., permanent human communities beyond Earth's biosphere - have been discussed within the space advocacy community since the 1970s. Now, with the end of the International Space Station (ISS) program fast approaching (planned for 2024-2025) and the advent of low cost Earth-to-orbit (ETO) transportation in the near future, the concept is coming once more into mainstream. Considerable attention has been focused on various issues associated with the engineering and human health considerations of space settlement such as artificial gravity and radiation shielding. However, relatively little attention has been given to the biological implications of a self-sufficient space settlement. Three fundamental questions are explored in this paper: (1) what are the biological "foundations" of truly self-sufficient space settlements in the foreseeable future, (2) what is the minimum scale for such self-sustaining human settlements, and (3) what are the integrated biologically-driven system requirements for such settlements? The paper examines briefly the implications of the answers to these questions in relevant potential settings (including free space, the Moon and Mars). Finally, this paper suggests relevant directions for future research and development in order for such space settlements to become viable in the future.

  1. Multi-factor energy price models and exotic derivatives pricing

    Science.gov (United States)

    Hikspoors, Samuel

    The high pace at which many of the world's energy markets have gradually been opened to competition have generated a significant amount of new financial activity. Both academicians and practitioners alike recently started to develop the tools of energy derivatives pricing/hedging as a quantitative topic of its own. The energy contract structures as well as their underlying asset properties set the energy risk management industry apart from its more standard equity and fixed income counterparts. This thesis naturally contributes to these broad market developments in participating to the advances of the mathematical tools aiming at a better theory of energy contingent claim pricing/hedging. We propose many realistic two-factor and three-factor models for spot and forward price processes that generalize some well known and standard modeling assumptions. We develop the associated pricing methodologies and propose stable calibration algorithms that motivate the application of the relevant modeling schemes.

  2. 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...

  3. 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...

  4. Dating breaks for global crude oil prices and their volatility : a possible price band for global crude prices

    International Nuclear Information System (INIS)

    Liao, H.C.; Suen, Y.B.

    2006-01-01

    Global oil prices are among the most visible of all historical commodity records. This paper presented and applied the multiple structural change method developed by Baie and Perron (BP) to investigate daily West Texas Intermediate (WTI) spot prices from January 2, 1986 to December 30, 2004 as collected by the United States Department of Energy. In particular, the BP statistical method was used to estimate the number and location of structural breaks in global oil price series and their volatility. The objective was to precisely determine the exact structural break in the global oil market. The breaks for both the price of oil and its volatility were successfully located and dated. It was shown that the break for the structural change in oil prices occurred on November 12, 1999, where the average oil price was U$19.02 per barrel previously, and U$30.90 afterwards. Two breaks for oil price volatility were also found, the first in March 1991 and the other in December 1995. The volatility was measured in 3 regimes by dividing these 2 breaks. It was suggested that since oil prices increased more rapidly during the second half of 2004 and 2005, it is possible that another structural break may be found during this period. However, it wa cautioned that it is difficult to find another significant break until more data becomes available, particularly for periods characterized by a rapid increase in price. 24 refs., 5 tabs., 2 figs

  5. Models of Coupled Settlement and Habitat Networks for Biodiversity Conservation: Conceptual Framework, Implementation and Potential Applications

    Directory of Open Access Journals (Sweden)

    Maarten J. van Strien

    2018-04-01

    Full Text Available Worldwide, the expansion of settlement and transport infrastructure is one of the most important proximate as well as ultimate causes of biodiversity loss. As much as every modern human society depends on a network of settlements that is well-connected by transport infrastructure (i.e., settlement network, animal and plant species depend on networks of habitats between which they can move (i.e., habitat networks. However, changes to a settlement network in a region often threaten the integrity of the region's habitat networks. Determining plans and policy to prevent these threats is made difficult by the numerous interactions and feedbacks that exist between and within the settlement and habitat networks. Mathematical models of coupled settlement and habitat networks can help us understand the dynamics of this social-ecological system. Yet, few attempts have been made to develop such mathematical models. In this paper, we promote the development of models of coupled settlement and habitat networks for biodiversity conservation. First, we present a conceptual framework of key variables that are ideally considered when operationalizing the coupling of settlement and habitat networks. In this framework, we first describe important network-internal interactions by differentiating between the structural (i.e., relating to purely physical conditions determining the suitability of a location for living or movement and functional (i.e., relating to the actual presence, abundance or movement of people or other organisms properties of either network. We then describe the main one-way influences that a settlement network can exert on the habitat networks and vice versa. Second, we give several recommendations for the mathematical modeling of coupled settlement and habitat networks and present several existing modeling approaches (e.g., habitat network models and land-use transport interaction models that could be used for this purpose. Lastly, we elaborate

  6. Krasnoye Syundyukovo I Fortifi ed Settlement: Investigation in 2014

    Directory of Open Access Journals (Sweden)

    Gismatulin Marat R.

    2016-12-01

    Full Text Available The article devoted to the results of new investigations of Krasnoye Syundyukovo I fortified settlement situated on the right bank of the Sviyaga river in the Ulyanovsk region. The site is one of the pre-Mongol towns of the Volga Bulgaria. A brick bath-house built in the 11th – 12th is its most well-known structure studied in 1991. Archaeological investigation of this site resumed in the summer of 2014. Two digs of 60 m2 (number VI and VII were organized on the territory of the settlement. Dig VII in the western part of the settlement yielded a household structure (cellar and numerous and various finds typical for the material culture of the population of a pre-Mongol Bulgar town: local ceramics, metal ware, as well as residues and slag, fragments of clothing and garnishment, etc. Dig VII had a significant number of artefacts associated with crafts and trade, which characterizes the activities of the population.

  7. 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...

  8. Strategies to keep your business operating through times of price volatility

    International Nuclear Information System (INIS)

    Spearman, C.

    2002-01-01

    The past (the promises), the present (the reality), and the future (the dream) of electricity deregulation in Alberta are reviewed. According to this outspoken critic of the system the promise was orderly transition, the introduction of industry structure and regulatory reforms that would preserve the 'Alberta advantage' of competitive electricity prices. The reality is government indecision, price volatility, uncertainty and complexity, resulting in poor understanding of the system on the part of consumers, hence bad decisions, rapidly declining confidence, high prices, and eroded competitiveness. In short, costs have skyrocketed and benefits are nowhere to be seen. As far as the dream is concerned the picture is cloudy, based on the following factors: load settlement is still in a mess, transmission remains a major issue, market power of former monopolies is still a concern, and future supply is uncertain in the absence of additional capacity. What is needed to make good on the original promises is a clear vision, stability, a cohesive plan, leadership, decisiveness, certainty and simplicity

  9. Online Structural Health Monitoring and Parameter Estimation for Vibrating Active Cantilever Beams Using Low-Priced Microcontrollers

    Directory of Open Access Journals (Sweden)

    Gergely Takács

    2015-01-01

    Full Text Available This paper presents a structural health monitoring and parameter estimation system for vibrating active cantilever beams using low-cost embedded computing hardware. The actuator input and the measured position are used in an augmented nonlinear model to observe the dynamic states and parameters of the beam by the continuous-discrete extended Kalman filter (EKF. The presence of undesirable structural change is detected by variations of the first resonance estimate computed from the observed equivalent mass, stiffness, damping, and voltage-force conversion coefficients. A fault signal is generated upon its departure from a predetermined nominal tolerance band. The algorithm is implemented using automatically generated and deployed machine code on an electronics prototyping platform, featuring an economically feasible 8-bit microcontroller unit (MCU. The validation experiments demonstrate the viability of the proposed system to detect sudden or gradual mechanical changes in real-time, while the functionality on low-cost miniaturized hardware suggests a strong potential for mass-production and structural integration. The modest computing power of the microcontroller and automated code generation designates the proposed system only for very flexible structures, with a first dominant resonant frequency under 4 Hz; however, a code-optimized version certainly allows much stiffer structures or more complicated models on the same hardware.

  10. Estimating the Cost and Payment for Sanitation in the Informal Settlements of Kisumu, Kenya: A Cross Sectional Study

    Directory of Open Access Journals (Sweden)

    Sheillah Simiyu

    2017-01-01

    Full Text Available Lack of sanitation facilities is a common occurrence in informal settlements that are common in most developing countries. One challenge with sanitation provision in these settlements is the cost and financing of sanitation. This study aimed at estimating the cost of sanitation, and investigating the social and economic dynamics within Kisumu’s informal settlements that hinder provision and uptake of sanitation facilities. Primary data was collected from residents of the settlements, and using logistic and hedonic regression analysis, we identify characteristics of residents with sanitation facilities, and estimate the cost of sanitation as revealed in rental prices. Our study finds that sanitation constitutes approximately 54% of the rent paid in the settlements; and dynamics such as landlords and tenants preferences, and sharing of sanitation facilities influence provision and payment for sanitation. This study contributes to general development by estimating the cost of sanitation, and further identifies barriers and opportunities for improvement including the interplay between landlords and tenants. Provision of sanitation in informal settlements is intertwined in social and economic dynamics, and development approaches should target both landlords and tenants, while also engaging various stakeholders to work together to identify affordable and appropriate sanitation technologies.

  11. Electricity market price volatility: The case of Ontario

    International Nuclear Information System (INIS)

    Zareipour, Hamidreza; Bhattacharya, Kankar; Canizares, Claudio A.

    2007-01-01

    Price volatility analysis has been reported in the literature for most competitive electricity markets around the world. However, no studies have been published yet that quantify price volatility in the Ontario electricity market, which is the focus of the present paper. In this paper, a comparative volatility analysis is conducted for the Ontario market and its neighboring electricity markets. Volatility indices are developed based on historical volatility and price velocity concepts, previously applied to other electricity market prices, and employed in the present work. The analysis is carried out in two scenarios: in the first scenario, the volatility indices are determined for the entire price time series. In the second scenario, the price time series are broken up into 24 time series for each of the 24 h and volatility indices are calculated for each specific hour separately. The volatility indices are also applied to the locational marginal prices of several pricing points in the New England, New York, and PJM electricity markets. The outcomes reveal that price volatility is significantly higher in Ontario than the three studied neighboring electricity markets. Furthermore, comparison of the results of this study with similar findings previously published for 15 other electricity markets demonstrates that the Ontario electricity market is one of the most volatile electricity markets world-wide. This high volatility is argued to be associated with the fact that Ontario is a single-settlement, real-time market

  12. 48 CFR 49.109-5 - Partial settlements.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Partial settlements. 49... MANAGEMENT TERMINATION OF CONTRACTS General Principles 49.109-5 Partial settlements. The TCO should attempt... settlements covering particular items of the prime contractor's settlement proposal. However, when a TCO...

  13. Agricultural production and stability of settlement systems in Upper Mesopotamia during the Early Bronze Age (third millennium BCE)

    Science.gov (United States)

    Kalayci, Tuna

    This study investigates the relationship between rainfall variation and rain-fed agricultural production in Upper Mesopotamia with a specific focus on Early Bronze Age urban settlements. In return, the variation in production is used to explore stability of urban settlement systems. The organization of the flow of agricultural goods is the key to sustaining the total settlement system. The vulnerability of a settlement system increases due to the increased demand for more output from agricultural lands. This demand is the key for the success of urbanization project. However, without estimating how many foodstuffs were available at the end of a production cycle, further discussions on the forces that shaped and sustained urban settlement systems will be lacking. While large scale fluctuations in the flow of agricultural products between settlements are not the only determinants of hierarchical structures, the total available agricultural yield for each urban settlement in a hierarchy must have influenced settlement relations. As for the methodology, first, Early Bronze Age precipitation levels are estimated by using modern day associations between the eastern Mediterranean coastal areas and the inner regions of Upper Mesopotamia. Next, these levels are integrated into a remote-sensing based biological growth model. Also, a CORONA satellite imagery based archaeological survey is conducted in order to map the Early Bronze Age settlement system in its entirety as well as the ancient markers of agricultural intensification. Finally, ancient agricultural production landscapes are modeled in a GIS. The study takes a critical position towards the traditionally held assumption that large urban settlements (cities) in Upper Mesopotamia were in a state of constant demand for food. The results from this study also suggest that when variations in ancient precipitation levels are translated into the variations in production levels, the impact of climatic aridification on ancient

  14. Electricity prices in the Finnish retail market

    International Nuclear Information System (INIS)

    Lehto, Eero

    2011-01-01

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

  15. Impact of regulated price adjustments on price variability in a very low inflation transition economy: Case of Armenia

    Directory of Open Access Journals (Sweden)

    Aghassi Mkrtchyan

    2005-06-01

    Full Text Available This paper examines the impact of monetary policy and administrative price adjustments on price variability in a low inflation economy characterized by relatively frequent administrative price adjustments. Fluctuations of market determined prices, prices of agricultural goods in particular, are linked to poor synchronization between administrative price changes and monetary policy. If monetary policy does not account for expected changes in administrative prices, demand for free goods shifts, causing fluctuation of prices for agricultural goods, because the supply of these goods is highly inelastic in Armenia. The findings contribute to a better understanding of agricultural price variability during 1998-2002. The impact of macroeconomic policy and structural adjustments on income distribution and rural poverty incidence are also examined. This research has immediate policy implications, since Armenia will continue to undergo major upward price adjustments of regulated prices, which may have a negative impact on income distribution unless aggregate demand management is changed.

  16. The influence of external effects on the design and price of structural installations for nuclear power stations

    International Nuclear Information System (INIS)

    Jonas, W.; Ramm, W.

    1976-01-01

    In the first part of the paper external effects such as earthquakes, chemical explosions, aircraft crashes, and the stress functions associated therewith are briefly considered. A few examples of global and local effects of an aircraft crash are given in order to illustrate general arrangements. In the second part of the paper the philosophy of objectives to provide protection is briefly discussed (safer shutdown, ensuring after-heat removal, preventing intolerable levels of activity release). From this emerge the layout criteria for the individual buildings of a plant. Factors affecting building arrangement and interaction between buildings are discussed. In conclusion the influence of external effects on the overall structural concept of individual buildings is described. With the aid of selected examples the structural layout required is indicated. (orig.) [de

  17. Settlement mechanism of the backfilled ground around nuclear power plant buildings. Part 1. A series of 1G shaking table tests

    International Nuclear Information System (INIS)

    Ishimaru, Makoto; Kawai, Tadashi

    2008-01-01

    The large ground settlement locally occurred at the backfilled ground around the Kashiwazaki-Kariwa Nuclear Power Plant buildings during the Niigataken Chuetsu-oki Earthquake in 2007. The purposes of this study are to verify the assumed mechanism of the settlement and to discuss the influence factors on the settlement. For these purposes, we conducted a series of 1G shaking table tests using a rigid structure and sand. In the tests, parameters, which were variously changed, are related to two factors; one is the horizontal ground displacement relative to the structure, the other is the ground strength against the sliding failure. The following results were obtained: (1) All the results showed that the ground settlement sizes near the structure were larger than the ground settlement sizes far from the structure, (2) From the video observed at the ground near the structure, it was found that the settlement locally occurred due to the sliding failure after the ground was separated from the structure, (3) The ground settlement sizes near the structure were large as the horizontal ground displacement sizes were large, and the soil strength arising from fines affected the ground settlement sizes near the structure. (author)

  18. Do cues matter? Highly inductive settlement cues don't ensure high post-settlement survival in sea urchin aquaculture.

    Directory of Open Access Journals (Sweden)

    Benjamin Mos

    Full Text Available Increasing settlement and post-settlement survival during the critical transition from planktonic larvae to benthic juveniles will increase efficiency for sea urchin aquaculture. This study investigated the effects of temperature and settlement cues on the settlement and post-settlement survival of the sea urchin Tripneustes gratilla during this phase. The current commercial methodology, which utilises natural biofilm settlement plates, was tested and resulted in low settlement (90% than a natural biofilm (∼25%. The addition of macroalgae-conditioned seawater to natural biofilm significantly increased settlement rates (>85%. Mixed consortia and single strains of bacteria isolated from macroalgae, biofilms and adult conspecifics all induced significant settlement, but at significantly lower rates than macroalgae. No evidence was found that higher rates of settlement to bacteria on macroalgae were generated by a cofactor from the macroalgae. Age of bacterial cultures, culturing bacteria on solid and liquid media and concentration of nutrients in cultures had little effect on settlement rates. Finally, macroalgae-conditioned seawater combined with natural biofilm settlement plates induced significantly higher settlement than to the biofilm plates alone in a commercial scale trial. However, high post-settlement mortality resulted in equivalent survival between treatments after 25 days. This study highlights that settlement studies should extend to post-settlement survival, which remains poor for T. gratilla and is a significant obstacle to increasing efficiency for aquaculture.

  19. Heterogeneity and option pricing

    NARCIS (Netherlands)

    Benninga, Simon; Mayshar, Joram

    2000-01-01

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

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

    Science.gov (United States)

    Sutherland, Jason M

    2015-08-01

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

  1. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

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

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

  2. The response of the Beijing carbon emissions allowance price (BJC) to macroeconomic and energy price indices

    International Nuclear Information System (INIS)

    Zeng, Shihong; Nan, Xin; Liu, Chao; Chen, Jiuying

    2017-01-01

    In 2013, China opened pilot carbon emission trading markets in seven provinces, where carbon emission allowances have now been traded for more than two years. In this paper, we employ a structural VAR model and the price of the Beijing carbon emission allowance to study the dynamic relationships among the price of the carbon emission allowance, economic development and the price of energy. This paper's data cover the period from April 2, 2014 to November 6, 2015. This paper provides information that will be helpful to both investors and governmental policy makers. The results show that (1) an increase of one standard deviation in the coal price leads to an initial increase of approximately 0.1% in the Beijing carbon price. After 2 days, there is a decrease of less than 0.1%, and the price gradually increases by approximately 0.1% after 30 days; (2) the price of the Beijing carbon emission allowance is mainly affected by its own historical price; (3) the Beijing carbon emission allowance price, crude oil price, natural gas price and economic development have positive – albeit non-significant – correlations. - Highlights: • This paper examines the response of the Beijing carbon emission allowance price. • A rise in coal prices will have different effects in different lag stages. • There are positive correlations between the BJC and economic development.

  3. Dispersed and decentralised settlement system

    Directory of Open Access Journals (Sweden)

    Andrej Černe

    2004-01-01

    Full Text Available In the process of reintegration of the urban system new settlements are emerging on theurban rim, transitional zones are reurbanised, derelict areas within the cities are being developedand degraded urban areas of derelict industrial complexes are being renaturalised. Inthe periphery combined research and production parks are being set up, in the open landscapeintegrated business, trade and recreational centres are springing up. Decentralisationand recentralisation of focal points of development accompany the contemporary processesof reurbanisation and suburbanisation – they are simultaneous and move in two-direction i.e. to and from the city. We understand them as manifestation of a dynamic balance amongcontradiction existing between the centre and the rim. Deindustrialisation and relocation ofproduction and distribution from the centres of gravity to the periphery generate extensivedegraded urban areas within cities and between the city and suburbs. The periphery is beingurbanised with the creation of new, dispersed and nonhierachical poles of development, andthe city and inner city is undergoing reurbanization. The general environmental conditionsin the city and in the countryside are being equalised, the potentials of development arebeing sought in the comparative advantages of local conditions: be it attractive urban districts,be it suburban entities or countryside areas.

  4. 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. ...

  5. Value-based pricing

    OpenAIRE

    Netseva-Porcheva Tatyana

    2010-01-01

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

  6. Riverine Settlement Adaptation Characteristic in Mentaya River, East Kotawaringin Regency, Kalimantan Province

    Science.gov (United States)

    Esariti, L.; Yuliastuti, N.; Ratih, N. K.

    2018-02-01

    The research looks for the importance of riverine settlement preservation as one of the efforts to carry out sustainable management of a traditional settlement. East Kalimantan, more specifically riverine settlement in Mentaya River is known as one of the traditional settlements that put river as the central of their livelihood activities. The theory of Rapopport [1] was used to investigate the importance of cultural aspect influence to the settlement process, and to seek for the behavioural and environment relationship in determining the pattern of adaptation process. Mix method approach was conducted by utilizing in depth interviews among 40 respondents within three districts, namely in Baamang, Mentaya Seberang and Mentawa Baru Ketapang subdistrict. The result shows that culture dominantly affect the process of settlement adaptation, especially the aspect of family structure, social network, and kinship. The adaptation pattern is influenced significantly by physical environment, type of physical condition of the houses, economic condition and the degree of heritage preservation motive. It sums up that adaptation process could be effective if the integration of culture, activities and government regulations is performed.

  7. Structure of the US gas market, regulation and pricing of the third party access to the network

    International Nuclear Information System (INIS)

    David, L.; Mirabel, F.

    2000-06-01

    The opening of the US natural gas market to competition is followed by deep changes in the implemented regulations for an efficient organization and operation of the gas industry. The transformations of the industrial structures and the strategic behavior of the actors characterize the mutations of the gas markets in the USA. The aim of this paper is to transcribe in a synthetic form the characteristics of the gas market in North America and to model the structure of the industry in this sector opened to competition in its back-end. Two main questions are analyzed: the role and position of the former monopoly (utility) in this back-end market (should the local distribution companies continue to sell gas to end users?), and what kind of regulation should be implemented by the authorities in order to avoid the former monopoly to use its market power and make excessive profits. The analysis is made in two steps: the first part explains the hypotheses of the analysis using the characteristics of the North American market. It presents the general framework of the model and explains the two 'regulatory scenarios' retained in the study. The main steps of the resolution of the model are detailed in the second part. (J.S.)

  8. Numerical Analysis of Soil Settlement Prediction and Its Application In Large-Scale Marine Reclamation Artificial Island Project

    Directory of Open Access Journals (Sweden)

    Zhao Jie

    2017-11-01

    Full Text Available In an artificial island construction project based on the large-scale marine reclamation land, the soil settlement is a key to affect the late safe operation of the whole field. To analyze the factors of the soil settlement in a marine reclamation project, the SEM method in the soil micro-structural analysis method is used to test and study six soil samples such as the representative silt, mucky silty clay, silty clay and clay in the area. The structural characteristics that affect the soil settlement are obtained by observing the SEM charts at different depths. By combining numerical calculation method of Terzaghi’s one-dimensional and Biot’s two-dimensional consolidation theory, the one-dimensional and two-dimensional creep models are established and the numerical calculation results of two consolidation theories are compared in order to predict the maximum settlement of the soils 100 years after completion. The analysis results indicate that the micro-structural characteristics are the essential factor to affect the settlement in this area. Based on numerical analysis of one-dimensional and two-dimensional settlement, the settlement law and trend obtained by two numerical analysis method is similar. The analysis of this paper can provide reference and guidance to the project related to the marine reclamation land.

  9. Price management mechanisms and the gas contract

    International Nuclear Information System (INIS)

    Dickson, D.J.

    1996-01-01

    Pricing objectives and risk management strategies that can be achieved through the proper use of the standard gas contract, were discussed. Main topics of discussion were: (1) gas sales contract and convertible pricing, (2) gas contract and imbedded hedging, gas contracts and exchange traded instruments, (4) gas contracts fixed for floating swaps, and OTC options and exotics, (5) options and exotic price structures, and (6) advantages and disadvantages of using the gas contract versus the swap agreement

  10. A Textbook Example of International Price Discrimination

    OpenAIRE

    Christos Cabolis; Sofronis Clerides; Ioannis Ioannou; Daniel Senft

    2005-01-01

    We investigate differences in book prices between the United States and other countries. We find that general audience books are similarly priced internationally, but textbooks are substantially more expensive in the United States (often more than double the price). This disparity is much more pronounced for commercial publishers than for university presses. We argue that supply-side factors like cost and market structure can not explain this phenomenon. We discuss several demand-side explana...

  11. Periodic Pricing of Seasonal Products in Retailing

    OpenAIRE

    Gabriel R. Bitran; Susana V. Mondschein

    1997-01-01

    This paper studies intertemporal pricing policies when selling seasonal products in retail stores. We first present a continuous time model where a seller faces a stochastic arrival of customers with different valuations of the product. For this model, we characterize the optimal pricing policies as functions of time and inventory. We use this model as a benchmark against which we compare more realistic models that consider periodic pricing reviews. We show that the structure of the optimal p...

  12. Transport corridors and settlements in a region. Linking settlements to public transport

    Directory of Open Access Journals (Sweden)

    Mojca Šašek Divjak

    2004-01-01

    Full Text Available The focus of the article is conditioning settlement to public transport on the regional and urban level. Similar to occurrences in Western Europe even in Slovenia strong settlement pressures and issues tied to development of suburbanisation are emerging in wider hinterlands of larger cities. In regional centres, where strong transport flows with frequent congestion happen, public transport should be the backbone of the transport system. It is important for consolidation of larger gravitation areas, especially conurbations. We can nevertheless establish that parallel to increasing use of private cars, the use of public transport is decreasing. Thus the present condition demands improvements of transport systems and suitable settlement density in conjunction with development of public transport. This can be achieved only by synergetic linking of public transport development and physical planning in a sustainable settlement system. In the Ljubljana functional region we specifically dealt with links between settlement and the regional public transport system, above all the proposed regional light-railway and tram system in the strict urban area. The decentralised denser settlement model is presented. Based on the study concerning settlement development in the railway corridors we proposed potential possibilities for denser settlement in the immediate areas of suburban railway stations in the northern part of the region, from Črnuče to Kamnik.

  13. Exporter Price Premia?

    DEFF Research Database (Denmark)

    Jäkel, Ina Charlotte; Sørensen, Allan

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

  14. 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.

  15. Real House Price Dynamics in OECD countries - The risk of large movements in prices

    OpenAIRE

    Mamre, Mari Olsen

    2014-01-01

    Using different econometric approaches and based on a panel of 21 OECD countries this thesis investigate whether differences in structural or policy factors significantly affects the price responsiveness of shocks to demand in the short run and in the cases of abrupt movements in real prices. Over such steeper areas of the housing cycle the analysis focus specifically on finding evidence of asymmetric responses of demand and structural factors on price dynamics. The study of asymmetries in th...

  16. Implications of the Structural Change in Dairy Products Trade on Milk Price Paid to Producers in Chile Implicancias del Cambio Estructural en el Mercado de Productos Lácteos Sobre el Precio de Leche Pagado a Productor en Chile

    Directory of Open Access Journals (Sweden)

    Alejandra Engler

    2008-06-01

    Full Text Available Since 1990 row milk production has exhibited a rapid increase from 890 million liters in 1990 to 1,818 million in 2006. The excess production has allowed for the expansion of the export sector, converting Chile in a net exporter in 2001. A relevant question in this new market scenario is how this structural change can affect milk prices paid to producers in Chile. The consequences of this structural change were explored in this study using a Vector Error Correction (VEC model and cointegration analysis. The results indicated that the domestic, CIF (Cost, Insurance, Freight and FOB (Free On Board prices were cointegrated, implying that changes in the import and export prices are transmitted to the domestic market affecting the milk price paid to producers. Prior to 2001, the import price (CIF was the relevant reference dictating the movements of the domestic price. After 2001, the export price (FOB became the reference, whereas the CIF price was no longer significant. The parameters of the VEC model suggest that the cointegrating relation between CIF and domestic prices for the first period under analysis (1990-2000 was clearer than that between FOB and domestic prices for the second period (2001-2007/3. The price elasticity for the FOB-domestic price vector had a large confidence interval, which is why it is difficult to draw strong conclusions regarding the impact of future FOB fluctuations on the milk price paid to producers in Chile after 2001.Desde 1990 la producción de leche ha experimentado un rápido incremento, pasando de 890 millones de litros en 1990 a 1.818 millones de litros en 2006. El exceso de producción de leche ha permitido la expansión comercial, transformando a Chile en exportador neto a partir del año 2001. En este nuevo escenario de mercado, una pregunta relevante es cómo este cambio estructural puede afectar el precio de leche pagado a productor. En este estudio se aborda esta interrogante, utilizando un Modelo de

  17. The spatial study of unplanned settlements on the coastal of Belawan Medan fishermen village

    Science.gov (United States)

    Marpaung, B. O. Y.; Winny Silaban, Nadia

    2018-03-01

    One of the determining factors that formed informal settlements is the high demand for homes that are not comparable with the homes that were provided by the government. The settlement of Fisherman Village in Belawan Medan was built without a plan by settlers and was not involve government interference so that the spatial pattern formed uncontrollable. The shape of space that stretches represents the distribution of unplanned space. The purpose of this study is to find the structure of settlement and the relationship between the space structures with the spatial pattern in Belawan Medan Fishermen Village. In the process of collecting data, the researcher makes the maps of the observation area, the structure of the space, and the relationship between one space function with the other space functions. Also, the researchers identify the spacing pattern and the effect of one spatial element against the other. This study found a similar spatial pattern between one unplanned settlement and another unplanned settlement and there are also some tendencies of Belawan Medan Fishermen Village settlers when building the built environment in the relationship between building masses and the road network.

  18. Valuation Struggles over Pricing

    DEFF Research Database (Denmark)

    Pallesen, Trine

    2016-01-01

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

  19. The bird in hand. Stipulated settlements in the Florida electricity sector

    International Nuclear Information System (INIS)

    Littlechild, Stephen

    2009-01-01

    In the last quarter century, stipulated settlements between the electric utilities and the Office of Public Counsel have largely superseded the traditional method of litigation before the Florida Public Services Commission. Some have opposed settlements. But consumers have gained from reductions in electricity revenues worth over $3 billion, which are greater or earlier than would have otherwise occurred. The utilities have benefited from commitments by parties outside the scope of the Commission, and from a more flexible accounting policy. Most importantly, stipulations have changed the form and nature of regulation: away from a conventional rate of return approach to a fixed-price approach, and later away from incentive schemes with profits caps to stronger and more enforceable incentive schemes without profit caps. (author)

  20. Food insecurity in households in informal settlements in urban South Africa.

    Science.gov (United States)

    Naicker, N; Mathee, A; Teare, J

    2015-04-01

    Food insecurity in the urban poor is a major public health challenge. The Health, Environment and Development study assessed trends in food insecurity and food consumption over a period of 7 years in an informal settlement in Johannesburg, South Africa (SA). Annual cross-sectional surveys were conducted in the informal settlement (Hospital Hill). The degree of household food insecurity decreased significantly from 2006 (85%) to 2012 (70%). There was a spike in 2009 (91%), possibly owing to global food price increases. Childhood food insecurity followed the same trend as household food insecurity. During the first 3 study years, consumption of protein, vegetables and fruit decreased by 10-20%, but had returned to previous levels by 2012. In this study, although declining, food insecurity remains unacceptably high. Hunger relief and poverty alleviation need to be more aggressively implemented in order to improve the quality of life in poor urban communities in SA.

  1. Pricing perpetual American options under multiscale stochastic elasticity of variance

    International Nuclear Information System (INIS)

    Yoon, Ji-Hun

    2015-01-01

    Highlights: • We study the effects of the stochastic elasticity of variance on perpetual American option. • Our SEV model consists of a fast mean-reverting factor and a slow mean-revering factor. • A slow scale factor has a very significant impact on the option price. • We analyze option price structures through the market prices of elasticity risk. - Abstract: This paper studies pricing the perpetual American options under a constant elasticity of variance type of underlying asset price model where the constant elasticity is replaced by a fast mean-reverting Ornstein–Ulenbeck process and a slowly varying diffusion process. By using a multiscale asymptotic analysis, we find the impact of the stochastic elasticity of variance on the option prices and the optimal exercise prices with respect to model parameters. Our results enhance the existing option price structures in view of flexibility and applicability through the market prices of elasticity risk

  2. Oil prices and long-run risk

    Science.gov (United States)

    Ready, Robert Clayton

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

  3. Whole gut microbiome composition of damselfish and cardinalfish before and after reef settlement.

    Science.gov (United States)

    Parris, Darren J; Brooker, Rohan M; Morgan, Michael A; Dixson, Danielle L; Stewart, Frank J

    2016-01-01

    The Pomacentridae (damselfish) and Apogonidae (cardinalfish) are among the most common fish families on coral reefs and in the aquarium trade. Members of both families undergo a pelagic larvae phase prior to settlement on the reef, where adults play key roles in benthic habitat structuring and trophic interactions. Fish-associated microbial communities (microbiomes) significantly influence fish health and ecology, yet little is known of how microbiomes change with life stage. We quantified the taxonomic (16S rRNA gene) composition of whole gut microbiomes from ten species of damselfish and two species of cardinalfish from Lizard Island, Australia, focusing specifically on comparisons between pelagic larvae prior to settlement on the reef versus post-settlement juvenile and adult individuals. On average, microbiome phylogenetic diversity increased from pre- to post-settlement, and was unrelated to the microbial composition in the surrounding water column. However, this trend varied among species, suggesting stochasticity in fish microbiome assembly. Pre-settlement fish were enriched with bacteria of the Endozoicomonaceae, Shewanellaceae, and Fusobacteriaceae, whereas settled fish harbored higher abundances of Vibrionaceae and Pasteurellaceae. Several individual operational taxonomic units, including ones related to Vibrio harveyi, Shewanella sp., and uncultured Endozoicomonas bacteria, were shared between both pre and post-settlement stages and may be of central importance in the intestinal niche across development. Richness of the core microbiome shared among pre-settlement fish was comparable to that of settled individuals, suggesting that changes in diversity with adulthood are due to the acquisition or loss of host-specific microbes. These results identify a key transition in microbiome structure across host life stage, suggesting changes in the functional contribution of microbiomes over development in two ecologically dominant reef fish families.

  4. Whole gut microbiome composition of damselfish and cardinalfish before and after reef settlement

    Directory of Open Access Journals (Sweden)

    Darren J. Parris

    2016-08-01

    Full Text Available The Pomacentridae (damselfish and Apogonidae (cardinalfish are among the most common fish families on coral reefs and in the aquarium trade. Members of both families undergo a pelagic larvae phase prior to settlement on the reef, where adults play key roles in benthic habitat structuring and trophic interactions. Fish-associated microbial communities (microbiomes significantly influence fish health and ecology, yet little is known of how microbiomes change with life stage. We quantified the taxonomic (16S rRNA gene composition of whole gut microbiomes from ten species of damselfish and two species of cardinalfish from Lizard Island, Australia, focusing specifically on comparisons between pelagic larvae prior to settlement on the reef versus post-settlement juvenile and adult individuals. On average, microbiome phylogenetic diversity increased from pre- to post-settlement, and was unrelated to the microbial composition in the surrounding water column. However, this trend varied among species, suggesting stochasticity in fish microbiome assembly. Pre-settlement fish were enriched with bacteria of the Endozoicomonaceae, Shewanellaceae, and Fusobacteriaceae, whereas settled fish harbored higher abundances of Vibrionaceae and Pasteurellaceae. Several individual operational taxonomic units, including ones related to Vibrio harveyi, Shewanella sp., and uncultured Endozoicomonas bacteria, were shared between both pre and post-settlement stages and may be of central importance in the intestinal niche across development. Richness of the core microbiome shared among pre-settlement fish was comparable to that of settled individuals, suggesting that changes in diversity with adulthood are due to the acquisition or loss of host-specific microbes. These results identify a key transition in microbiome structure across host life stage, suggesting changes in the functional contribution of microbiomes over development in two ecologically dominant reef fish

  5. Abusive Transfer Pricing and Economic Activity

    DEFF Research Database (Denmark)

    Nielsen, Søren Bo; Schindler, Dirk; Schjelderup, Guttorm

    This paper investigates how concealment costs of transfer pricing and the probability of detection affect transfer pricing and firm behavior. We find that transfer pricing in intermediate production factors does not affect real activity of a multinational firm if the firm’s concealment effort...... its production structure. A policy implication of the paper is that it should be preferable to condition audits on the amount of income shifted rather than on the distortion of the transfer price proper. Another policy finding is that improving the quality of tax law might be superior to higher...

  6. Settlement Prediction of Footings Using VS

    Directory of Open Access Journals (Sweden)

    Hyung Ik CHO

    2017-10-01

    Full Text Available The shear wave velocity (VS is a key parameter for estimating the deformation characteristics of soil. In order to predict the settlement of shallow footings in granular soil, the VS and the concept of Schmertmann’s framework were adopted. The VS was utilized to represent soil stiffness instead of cone tip resistance (qc because the VS can be directly related to the small-strain shear modulus. By combining the VS measured in the field and the modulus reduction curve measured in the laboratory, the deformation characteristics of soil can be reliably estimated. Vertical stress increments were determined using two different profiles of the strain influence factor (Iz proposed in Schmertmann’s method and that calculated from the theory of elasticity. The corresponding modulus variation was determined by considering the stress level and strain at each depth. This state-dependent stress-strain relationship was utilized to calculate the settlement of footings based on the theory of elasticity. To verify the developed method, geotechnical centrifuge tests were carried out. The VS profiles were measured before each loading test, and the load-settlement curves were obtained during the tests. Comparisons between the measured and estimated load-settlement curves showed that the developed method adequately predicts the settlement of footings, especially for over-consolidated ground conditions.

  7. Intraday Price Discovery in Fragmented Markets

    NARCIS (Netherlands)

    S.R. Ozturk (Sait); M. van der Wel (Michel); D.J.C. van Dijk (Dick)

    2014-01-01

    textabstractFor many assets, trading is fragmented across multiple exchanges. Price discovery measures summarize the informativeness of trading on each venue for discovering the asset’s true underlying value. We explore intraday variation in price discovery using a structural model with

  8. Pricing and tariffs

    International Nuclear Information System (INIS)

    Dyrelund, A.

    1993-01-01

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

  9. PRICES IN COMPETITIVE SYSTEM

    Directory of Open Access Journals (Sweden)

    VADUVA MARIA

    2017-08-01

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

  10. Natural gas pricing

    International Nuclear Information System (INIS)

    Freedenthal, C.

    1993-01-01

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

  11. Drug Pricing Reforms

    DEFF Research Database (Denmark)

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

    2015-01-01

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

  12. CONSIDERATIONS ON ASSESSMENT OF PAYMENT AND SETTLEMENT SYSTEM

    Directory of Open Access Journals (Sweden)

    Timeea Maria DUMESCU

    2014-12-01

    Full Text Available Payment and settlement systems are financial instruments that are significant to the financial and banking system. Payment systems are a source of current information and an operative intervention tool by providing oversight use funds in the accounts of the banks. Since their implementation in the banking system structure these systems have evolved continuously in the market requirements, we are encountering major problems are mostly due to strict compliance with international standards, which ensure a high level of safety in their operation and measures by the central bank.

  13. NUKEM adjusts price definitions

    International Nuclear Information System (INIS)

    Anon.

    1994-01-01

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

  14. Delegating Pricing Decisions

    OpenAIRE

    Pradeep Bhardwaj

    2001-01-01

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

  15. TOURISM MARKET: PRICING ISSUES

    Directory of Open Access Journals (Sweden)

    Irina A. Kiseleva

    2016-01-01

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

  16. Price competition on graphs

    NARCIS (Netherlands)

    Soetevent, A.R.

    2010-01-01

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

  17. Press point on prices

    International Nuclear Information System (INIS)

    Schilansky, J.L.

    2005-06-01

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

  18. Simulating Price-Taking

    Science.gov (United States)

    Engelhardt, Lucas M.

    2015-01-01

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

  19. Dutch house price fundamentals

    NARCIS (Netherlands)

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

    2009-01-01

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

  20. Planning urban settlements for quality of life

    DEFF Research Database (Denmark)

    Boje Groth, N.; Hansen, K.E.; Björnberg, U.

    Notatet er et indlæg på den Europæiske Økonomiske Kommissions (ECE) konference om by- og regionforskning, tema II: "Research on the Quality of Life in Urban Settlements, Warszawa, maj 1976. I notatet opstilles en begrebsramme for livskvalitetsbegrebet, og man diskuterer hvorledes livskvalitetsana......Notatet er et indlæg på den Europæiske Økonomiske Kommissions (ECE) konference om by- og regionforskning, tema II: "Research on the Quality of Life in Urban Settlements, Warszawa, maj 1976. I notatet opstilles en begrebsramme for livskvalitetsbegrebet, og man diskuterer hvorledes...

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

    OpenAIRE

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

    2004-01-01

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

  2. The Settlements Growth in Mijen District, Suburb of Semarang

    Science.gov (United States)

    Pigawati, B.; Yuliastuti, N.; Mardiansjah, F. H.

    2018-02-01

    Semarang is one of metropolitan cities in Indonesia. As common in metropolitan cities, Semarang has problems regarding the availability of urban space, especially for settlements. This is related to the increase of population in Semarang. The selection of settlements should consider the suitability of space usage. This study aimed to analyze the growth of Semarang settlements in 2006-2015, distribution patterns, characteristics, directions and factors affecting growth. The location of the research is Mijen District located in Suburb of Semarang. This research used a quantitative descriptive spatial approach by using remote sensing technique and Geographic Information System (GIS). The results showed that some of the growth sites of settlements in Mijen District, the suburb of Semarang are located in areas which not suitable for settlements. There are several types of settlement patterns in Mijen District. Accessibility is the major factor driving the growth of settlements. An integrated development policy is needed to maintain a sustainable balance of urban settlement development.

  3. 48 CFR 49.108-3 - Settlement procedure.

    Science.gov (United States)

    2010-10-01

    ... MANAGEMENT TERMINATION OF CONTRACTS General Principles 49.108-3 Settlement procedure. (a) Contractors shall settle with subcontractors in general conformity with the policies and principles relating to settlement...

  4. Development of a Common Nordic Balance Settlement

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2006-02-15

    NordREG finds it essential for the customers that a common integrated end-user electricity market is developed and that all end-users are able to take part in the Nordic market. A common Nordic balance settlement is one important part of such a change. However, attention has to be paid to the comments that a badly designed common system is worse than well-designed national systems. It is thus important that the change to a common balance settlement is so thoroughly investigated that the common system gives a basis for a well-functioning market. An important basis for such a change is an agreed vision for the process: The present different systems for balance settlement shall by the year 2010 be replaced by a common Nordic balance settlement. This means that: It will be possible for a supplier to sell to the whole Nordic market from one legal entity and using only one system for customer management and reporting. The common Nordic balance settlement will be designed in such a way that it contributes to a well functioning market. This means for example that it will be attractive even for small suppliers and some end-users to be balance responsible parties. It is feasible that the first phase is focused on those present differences that are most decisive for fulfilment of the vision. NordREG recommends that the following issues shall be discussed and agreed in co-operation between NordREG, Nordel and relevant stakeholders in the first phase: The definition shall include how the common Nordic balance settlement shall interact with the balance control and the balance regulation of the interconnected power system and the balance settlement between countries performed by the TSOs. The definition should include the cost-base for common Nordic balance settlement in relation to other system responsibility costs. The core activities of system responsibility have also been analyzed by NordREG. It is important to find a balance between inter alia the need for simplicity and the

  5. Development of a Common Nordic Balance Settlement

    International Nuclear Information System (INIS)

    2006-02-01

    NordREG finds it essential for the customers that a common integrated end-user electricity market is developed and that all end-users are able to take part in the Nordic market. A common Nordic balance settlement is one important part of such a change. However, attention has to be paid to the comments that a badly designed common system is worse than well-designed national systems. It is thus important that the change to a common balance settlement is so thoroughly investigated that the common system gives a basis for a well-functioning market. An important basis for such a change is an agreed vision for the process: The present different systems for balance settlement shall by the year 2010 be replaced by a common Nordic balance settlement. This means that: It will be possible for a supplier to sell to the whole Nordic market from one legal entity and using only one system for customer management and reporting. The common Nordic balance settlement will be designed in such a way that it contributes to a well functioning market. This means for example that it will be attractive even for small suppliers and some end-users to be balance responsible parties. It is feasible that the first phase is focused on those present differences that are most decisive for fulfilment of the vision. NordREG recommends that the following issues shall be discussed and agreed in co-operation between NordREG, Nordel and relevant stakeholders in the first phase: The definition shall include how the common Nordic balance settlement shall interact with the balance control and the balance regulation of the interconnected power system and the balance settlement between countries performed by the TSOs. The definition should include the cost-base for common Nordic balance settlement in relation to other system responsibility costs. The core activities of system responsibility have also been analyzed by NordREG. It is important to find a balance between inter alia the need for simplicity and the

  6. Internet resource pricing models

    CERN Document Server

    Xu, Ke; He, Huan

    2013-01-01

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

  7. Value-based pricing

    Directory of Open Access Journals (Sweden)

    Netseva-Porcheva Tatyana

    2010-01-01

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

  8. Financial Knudsen number: Breakdown of continuous price dynamics and asymmetric buy-and-sell structures confirmed by high-precision order-book information.

    Science.gov (United States)

    Yura, Yoshihiro; Takayasu, Hideki; Sornette, Didier; Takayasu, Misako

    2015-10-01

    We generalize the description of the dynamics of the order book of financial markets in terms of a Brownian particle embedded in a fluid of incoming, exiting, and annihilating particles by presenting a model of the velocity on each side (buy and sell) independently. The improved model builds on the time-averaged number of particles in the inner layer and its change per unit time, where the inner layer is revealed by the correlations between price velocity and change in the number of particles (limit orders). This allows us to introduce the Knudsen number of the financial Brownian particle motion and its asymmetric version (on the buy and sell sides). Not being considered previously, the asymmetric Knudsen numbers are crucial in finance in order to detect asymmetric price changes. The Knudsen numbers allows us to characterize the conditions for the market dynamics to be correctly described by a continuous stochastic process. Not questioned until now for large liquid markets such as the USD-JPY and EUR-USD exchange rates, we show that there are regimes when the Knudsen numbers are so high that discrete particle effects dominate, such as during market stresses and crashes. We document the presence of imbalances of particles depletion rates on the buy and sell sides that are associated with high Knudsen numbers and violent directional price changes. This indicator can detect the direction of the price motion at the early stage while the usual volatility risk measure is blind to the price direction.

  9. Financial Knudsen number: Breakdown of continuous price dynamics and asymmetric buy-and-sell structures confirmed by high-precision order-book information

    Science.gov (United States)

    Yura, Yoshihiro; Takayasu, Hideki; Sornette, Didier; Takayasu, Misako

    2015-10-01

    We generalize the description of the dynamics of the order book of financial markets in terms of a Brownian particle embedded in a fluid of incoming, exiting, and annihilating particles by presenting a model of the velocity on each side (buy and sell) independently. The improved model builds on the time-averaged number of particles in the inner layer and its change per unit time, where the inner layer is revealed by the correlations between price velocity and change in the number of particles (limit orders). This allows us to introduce the Knudsen number of the financial Brownian particle motion and its asymmetric version (on the buy and sell sides). Not being considered previously, the asymmetric Knudsen numbers are crucial in finance in order to detect asymmetric price changes. The Knudsen numbers allows us to characterize the conditions for the market dynamics to be correctly described by a continuous stochastic process. Not questioned until now for large liquid markets such as the USD-JPY and EUR-USD exchange rates, we show that there are regimes when the Knudsen numbers are so high that discrete particle effects dominate, such as during market stresses and crashes. We document the presence of imbalances of particles depletion rates on the buy and sell sides that are associated with high Knudsen numbers and violent directional price changes. This indicator can detect the direction of the price motion at the early stage while the usual volatility risk measure is blind to the price direction.

  10. 7 CFR 1940.406 - Real estate settlement procedures.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 13 2010-01-01 2009-01-01 true Real estate settlement procedures. 1940.406 Section... AGRICULTURE (CONTINUED) PROGRAM REGULATIONS (CONTINUED) GENERAL Truth in Lending-Real Estate Settlement Procedures § 1940.406 Real estate settlement procedures. (a) General. This section provides the instructions...

  11. Infrastructure Provision and Classification of Rural Settlements in ...

    African Journals Online (AJOL)

    This study classifies the selected rural settlements on the basis of available infrastructure .To achieve this aim, 22 rural settlements were randomly selected. The cluster analysis was applied on the data in order to group the rural settlements on the basis of their infrastructure profiles. Thus the hierarchical method of cluster ...

  12. 6 CFR 13.46 - Compromise or settlement.

    Science.gov (United States)

    2010-01-01

    ... 6 Domestic Security 1 2010-01-01 2010-01-01 false Compromise or settlement. 13.46 Section 13.46 Domestic Security DEPARTMENT OF HOMELAND SECURITY, OFFICE OF THE SECRETARY PROGRAM FRAUD CIVIL REMEDIES § 13.46 Compromise or settlement. (a) Parties may Make offers of compromise or settlement at any time...

  13. 48 CFR 49.110 - Settlement negotiation memorandum.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Settlement negotiation... CONTRACT MANAGEMENT TERMINATION OF CONTRACTS General Principles 49.110 Settlement negotiation memorandum. (a) The TCO shall, at the conclusion of negotiations, prepare a settlement negotiation memorandum...

  14. 24 CFR 3500.9 - Reproduction of settlement statements.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 5 2010-04-01 2010-04-01 false Reproduction of settlement... HOUSING AND URBAN DEVELOPMENT REAL ESTATE SETTLEMENT PROCEDURES ACT § 3500.9 Reproduction of settlement... in sections F and H, respectively. (3) Reproduction of the HUD-1 must conform to the terminology...

  15. Researching Entrepreneurship in Low-income Settlements

    DEFF Research Database (Denmark)

    Gough, Katherine V.; Langevang, Thilde; Namatovu, Rebecca

    2014-01-01

    of entrepreneurship conducted in a low-income settlement, which combined participatory quantitative and qualitative approaches, highlighting the strengths and challenges of using participatory methods. The paper demonstrates how drawing on a range of participatory methods can contribute to creating more engaging...

  16. Clearing and settlement of exchange traded derivatives

    OpenAIRE

    John McPartland

    2009-01-01

    Derivatives are a class of financial instruments that derive their value from some underlying commodity, security, index, or other asset. Futures and options are common forms of derivatives. This article explains how clearing and settlement systems for exchange traded derivatives work.

  17. Directional layouts in central lowland Maya settlement

    DEFF Research Database (Denmark)

    Bevan, Andrew; Jobbová, Eva; Helmke, Christophe

    2013-01-01

    This paper suggests the existence of non-random, directional patterns in the location of housemounds across the Late Classic Maya settlement landscape at Baking Pot, Belize, and then explores the wider implications of this patterning in the central Maya lowlands. It introduces an anisotropic method...

  18. Between archaeology and anthropology: imagining Neolithic settlements

    Czech Academy of Sciences Publication Activity Database

    Květina, Petr; Hrnčíř, V.

    2013-01-01

    Roč. 51, č. 2 (2013), s. 323-347 ISSN 0323-1119. [Theory and method in the prehistoric archaeology of Central Europe. Mikulov, 24.10.2012-26.10.2012] R&D Projects: GA MK(CZ) DF12P01OVV032 Keywords : Neolithic longhouse * ethnographic analogy * settlement patterns Subject RIV: AC - Archeology, Anthropology, Ethnology

  19. 17 CFR 8.16 - Settlement offers.

    Science.gov (United States)

    2010-04-01

    ... Section 8.16 Commodity and Securities Exchanges COMMODITY FUTURES TRADING COMMISSION EXCHANGE PROCEDURES FOR DISCIPLINARY, SUMMARY, AND MEMBERSHIP DENIAL ACTIONS Disciplinary Procedure § 8.16 Settlement... the disciplinary committee at any time after the investigation report is completed. The disciplinary...

  20. Modelling of settlement induced building damage

    NARCIS (Netherlands)

    Giardina, G.

    2013-01-01

    This thesis focuses on the modelling of settlement induced damage to masonry buildings. In densely populated areas, the need for new space is nowadays producing a rapid increment of underground excavations. Due to the construction of new metro lines, tunnelling activity in urban areas is growing.

  1. 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

  2. What is behind the increase in oil prices? Analyzing oil consumption and supply relationship with oil price

    International Nuclear Information System (INIS)

    Gallo, Andres; Mason, Paul; Shapiro, Steve; Fabritius, Michael

    2010-01-01

    The continuing increases in oil prices have renewed the argument over the real culprits behind these movements. The growth in demand for oil in international markets, especially from the United States and China, is often identified as the main source of consumption pressure on prices, and thus the upward trend in oil prices. This paper uses unit root tests with two endogenous breaks to analyze the characteristics of oil prices, production, and consumption for several countries. By taking into account structural breaks, we find that many countries' oil consumption and oil prices are stationary, while other countries' are not. We also perform causality tests to determine the direction of any possible relationship between oil price and oil consumption and production. Our statistical analysis reveals that production variables cause oil prices, while oil prices tend to cause consumption. As a result, we claim that the blame for the recent fluctuations in oil prices is more appropriately associated with supply factors, not consumption influences. (author)

  3. Price leadership within a marketing channel: A cointegration study

    NARCIS (Netherlands)

    Kuiper, W.E.; Meulenberg, M.T.G.

    2004-01-01

    Building upon a multiple-product channel structure, this paper develops a model to test channel price leadership on the basis of time series observations on retail and wholesale prices and using absence of double marginalisation as a criterion for channel price leadership. The model studies

  4. 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. Stepping Stones and Creating Futures intervention: shortened interrupted time series evaluation of a behavioural and structural health promotion and violence prevention intervention for young people in informal settlements in Durban, South Africa.

    Science.gov (United States)

    Jewkes, Rachel; Gibbs, Andrew; Jama-Shai, Nwabisa; Willan, Samantha; Misselhorn, Alison; Mushinga, Mildred; Washington, Laura; Mbatha, Nompumelelo; Skiweyiya, Yandisa

    2014-12-29

    Gender-based violence and HIV are highly prevalent in the harsh environment of informal settlements and reducing violence here is very challenging. The group intervention Stepping Stones has been shown to reduce men's perpetration of violence in more rural areas, but violence experienced by women in the study was not affected. Economic empowerment interventions with gender training can protect older women from violence, but microloan interventions have proved challenging with young women. We investigated whether combining a broad economic empowerment intervention and Stepping Stones could impact on violence among young men and women. The intervention, Creating Futures, was developed as a new generation of economic empowerment intervention, which enabled livelihood strengthening though helping participants find work or set up a business, and did not give cash or make loans. We piloted Stepping Stones with Creating Futures in two informal settlements of Durban with 232 out of school youth, mostly aged 18-30 and evaluated with a shortened interrupted time series of two baseline surveys and at 28 and 58 weeks post-baseline. 94/110 men and 111/122 women completed the last assessment, 85.5% and 90.2% respectively of those enrolled. To determine trend, we built random effects regression models with each individual as the cluster for each variable, and measured the slope of the line across the time points. Men's mean earnings in the past month increased by 247% from R411 (~$40) to R1015 (~$102, and women's by 278% R 174 (~$17) to R 484 (about $48) (trend test, p < 0.0001). There was a significant reduction in women's experience of the combined measure of physical and/or sexual IPV in the prior three months from 30.3% to 18.9% (p = 0.037). This was not seen for men. However both men and women scored significantly better on gender attitudes and men significantly reduced their controlling practices in their relationship. The prevalence of moderate or severe depression

  6. Multi-layered settlement Rudi XX (excavations in 1982

    Directory of Open Access Journals (Sweden)

    Ivan Vlasenko

    2017-12-01

    Full Text Available This publication presents the results of investigations, which had began in 1980 at the Rudi XX settlement in the Soroca District of the Republic of Moldova, obtained in 1982. There was confirmed the multi-layered structure of the site and the horizon of the Iron Age was first identified. But because of the small number and inexpressiveness of the ceramic findings, this layer was previously dated by a rather long period of time – from the late Hallstatt (7th-6th centuries BC to the Getic culture (4th-3rd centuries BC. The discovered structure in the form of a heavily burned pit was attributed, as a hypothesis, to the Getic crematorium. The production character of the early medieval settlement has been confirmed (presence of iron slag, fragments of ceramic blowing nozzles and iron ore. The remains of three ovens of the 8th-9th centuries were investigated. The collection of medieval pottery of the 6th-11th centuries and individual findings of iron, stone and bone objects was assembled.

  7. THE CULTURE OF SETTLEMENT AREAS IN SLOVENIA

    Directory of Open Access Journals (Sweden)

    Urša Suhadolnik Vovko

    2013-01-01

    Full Text Available To study and grasp the contemporary rural areas in Slovenia, the students of the Faculty of Architecture carried out a public opinion survey on the subject of the culture of settlement areas, with a particular reference to the visual image of the experiential space of the settlements. Today, human needs and living values are an integral part of all documents, as they represent the starting-point of designing new concepts of living. Personal quality of living is explained by Mandič [1999] through the use of Allard's classification of human needs; however, Mercer's Quality of Living ranking is often used to measure the quality of the living environmentThe paper represents the results of the study, which included two target groups: The experts in spatial management and planning employed at municipal administrative offices; and the senior years’ students at the Faculty of Architecture of the University of Ljubljana. The study represented here addressed the values of the living environment. The study was triggered by the 'colourfulness' that knows no limits in Slovenia. Putting the everyday indignation over the variety of all possible shades aside, it has become evident that the tiny elements that are also destroying the image of our settlements are all too often neglected: billboards, log cabins complementing garages and decorative elements, stalls during celebrations and fairs, fountains, monuments, mix of exotic plants, the Snow White and the Seven Dwarfs etc. The study included a survey to obtain a more objective approach to the studying of the quality from the viewpoints of the changing living culture and the use of communal external space in Slovenian settlements. The key question that resonated in most of other questions was: What would improve the quality of life in the settlement?

  8. Forest changes since Euro-American settlement and ecosystem restoration in the Lake Tahoe Basin, USA

    Science.gov (United States)

    Alan H. Taylor

    2007-01-01

    Pre Euro-American settlement forest structure and fire regimes for Jeffrey pine-white fir, red fir-western white pine, and lodgepole pine forests were quantified using stumps from trees cut in the 19th century to establish a baseline reference for ecosystem management in the Lake Tahoe Basin. Contemporary forests varied in different ways compared...

  9. 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. ...

  10. 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. ...

  11. 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. ...

  12. 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. ...

  13. 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. ...

  14. 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. ...

  15. 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. ...

  16. 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. ...

  17. 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. ...

  18. 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. ...

  19. METHODOLOGY RELATED TO ESTIMATION OF INVESTMENT APPEAL OF RURAL SETTLEMENTS

    Directory of Open Access Journals (Sweden)

    A. S. Voshev

    2010-03-01

    Full Text Available Conditions for production activity vary considerably from region to region, from area to area, from settlement to settlement. In this connection, investors are challenged to choose an optimum site for a new enterprise. To make the decision, investors follow such references as: investment potential and risk level; their interrelation determines investment appeal of a country, region, area, city or rural settlement. At present Russia faces a problem of «black boxes» represented by a lot of rural settlements. No effective and suitable techniques of quantitative estimation of investment potential, rural settlement risks and systems to make the given information accessible for potential investors exist until now.

  20. Population Ageing in Rural Settlements in the Republic of Croatia

    Directory of Open Access Journals (Sweden)

    Ivo Nejašmić

    2016-08-01

    Full Text Available One of the basic demographic characteristics of Croatia is the inherited dispersed population density with a large number of small settlements and the undeveloped system of regional and micro-regional centres. Such settlement structure was entirely inappropriate in the conditions of accelerated and urban-based industrialization after the Second World War. This period was characterised by a mass transition of agricultural population into non-agricultural activities, along with the abandonment of rural settlements. In addition to the strong emigration from rural areas in which younger age groups participated for the most part, there was a continuous reduction in fertility, too. All this has led to the narrowing of young age groups and consequently to the increase in the proportion of the elderly. An important factor of demographic ageing is the reduction in mortality of persons over 30 years of age and longer life respectively. Life expectancy of the Croatian population was 64.8 years in 1960 and 77.2 years in 1972. The average age constantly increased: it was 32.5 years in 1961, 35.4 in 1981 and it reached the high 41.7 years in 2011. The aggression and war against Croatia happened in the 1990s. Dramatic events affected the general social conditions and processes, strongly accelerating negative demographic trends. All this had further affected the socio-demographically eroded rural areas. There was a particularly difficult situation in the regions directly affected by the war; part of these areas had had the features of extreme demographic regression before the war sufferings and the war only further strengthened it. The overall population of Croatia is characterised by decreasing fertility, natural depopulation (negative natural change, total depopulation (since 1990 and intense population ageing. The duration and intensity of these processes clearly testifies to the demographic development of Croatia being very unfavourable. All this also

  1. 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...

  2. 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.

  3. STS pricing policy

    Science.gov (United States)

    Lee, C. M.; Stone, B.

    1982-01-01

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

  4. Target Price Accuracy

    Directory of Open Access Journals (Sweden)

    Alexander G. Kerl

    2011-04-01

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

  5. The morphological /settlement pattern classification of South African settlements based on a settlement catchment approach, to inform facility allocation and service delivery

    CSIR Research Space (South Africa)

    Sogoni, Z

    2016-07-01

    Full Text Available / settlement pattern classification of South African settlements based on a settlement catchment approach, to inform facility allocation and service delivery Zukisa Sogoni Planning Africa Conference 2016 4 July 2Project Focus and Background • CSIR... services. • Purpose is to support application & planning for new investment & prevent “unsustainable” investments / White elephants. 3Outputs • National set of service delivery catchments • Profile information per individual catchment • Ranking...

  6. TARGET CONTROLLING METHOD OF THE PRICING PROCESS IN THE TOURISM ENTERPRISES

    OpenAIRE

    N. Sagalakova

    2016-01-01

    Key stages of the pricing process in the tourism enterprises are investigated: subprocess of establishing of nominal value of the new tourism product price and subprocess of adjustment of the established price depending on a situation in the tourism market. For establishing of nominal value of the price it is offered by use of optimizing model, which maximizes the usefulness function of structural parts of the tourism product price. For adjustment of the tourism product price under change of ...

  7. Petroleum’s Price Transmission and Imported Demand for Crude Oil in Thailand

    OpenAIRE

    Papusson Chaiwat; Nantarat Tangvitoontham

    2014-01-01

    The study of the petroleum price structures in Thailand reveals that diesel is the important fuel because it influences inflation and productions’ costs. Government wants to keep diesel’s price stability; meanwhile, it is less control in gasohol and petrol prices. These prices are normally higher than diesel’s price in order to support the renewable energy and reduce the consumption behaviors. Real price elasticity of imported crude oil in short run is insignificant but in long run is about 0...

  8. Pricing of new vaccines

    OpenAIRE

    Lee, Bruce Y; McGlone, Sarah M

    2010-01-01

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

  9. Land Prices and Fundamentals

    OpenAIRE

    Koji Nakamura; Yumi Saita

    2007-01-01

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

  10. Introduction to pricing issues

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

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

  11. Cost and Price Collaboration

    Science.gov (United States)

    2016-04-30

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

  12. Settlement of the USS Arizona, Pearl Harbor, Hawaii

    Science.gov (United States)

    Carkin, Brad A.; Kayen, Robert E.

    2013-01-01

    the stiff clays and coral debris beneath the aft half of the USS Arizona and thickening toward the stern. The 2008 position of the hull has been documented using both tide-based and differential Global Positioning System (GPS) measuring systems. Analysis of historical and recent photographs was done to create a record of settlement from the time of sinking in 1941 to the present. By examining shadows in suitable photos, the sun azimuth, local time of day, and tide levels were determined to derive tide-adjusted and sea-level-rise-corrected elevations for structures on the hull and from these elevations to obtain settlement and tilt trends. The settlement trends, most complete for barbette 3, have two components. An early, nonlinear component ends on December 9, 1941, and represents the initial penetration and displacement of the bottom sediment by the hull. A linear, long-term trend of normal consolidation continues to the present day. Long-term settlement rates are greatest at the stern and decrease linearly to the midship, showing that the aft half of the hull is moving as an intact, rigid body. The recent rate of settlement at the stern is about 3.5 mm/year; rates at the starboard midship and forward part of the hull are less than one-third of the stern rate. The aft half of the USS Arizona hull presently tilts about 2 degrees to port, an increase of at least 1.5 degrees since the initial sinking of the ship. The results of this study identify differential settlement of the Arizona hull, due to the wedge of soft clay underlying the aft half of the hull, as the cause of the movement of the hull beneath the surface of Pearl Harbor. Calculation of sediment consolidation using lab-determined properties of the soft clay demonstrates that the observed settlements can be reproduced by projecting appropriate clay thicknesses beneath the hull. Several of the high-quality photographs analyzed for the historical settlement analysis highlight some of the limitations of this

  13. Electricity transmission pricing. How contracts must reflect costs

    International Nuclear Information System (INIS)

    Shuttleworth, G.

    1996-01-01

    Two basic structures of transmission systems are distinguished: transmission channels offered through an integrated electric utility and open access offered over an independent network. The first structure allows the application of 'top-down pricing', where transmission prices are derived from customer tariffs less avoidable generation costs. Transmission prices in the second structure must be derived from a 'bottom-up' analysis of transmission costs, including building capacity, marginal losses, and congestion. 5 refs

  14. 1988 coal price negotiation

    Energy Technology Data Exchange (ETDEWEB)

    Senmura, Akira

    1988-12-01

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

  15. Are internet prices sticky?

    OpenAIRE

    Lünnemann, Patrick; Wintr, Ladislav

    2006-01-01

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

  16. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

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

    2014-01-01

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

  17. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

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

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

  18. Alternative pricing methodologies

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

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

  19. Mapping of traditional settlements by unmanned airborne vehicles towards architectural restoration

    Science.gov (United States)

    Partsinevelos, Panagiotis; Skoutelis, Nikolaos; Tripolitsiotis, Achilleas; Tsatsarounos, Stelios; Tsitonaki, Anna; Zervos, Panagiotis

    2015-06-01

    Conservation and restoration of traditional settlements are amongst the actions that international directives proclaim in order to protect our cultural heritage. Towards this end, a mandatory base step in all archaeological and historical practices includes the surveying and mapping of the study area. Often, new, unexplored or abandoned settlements are considered, where dense vegetation, damaged structures and ruins, incorporation of newer structures and renovation characteristics make the precise surveying procedure a labor intensive and time consuming procedure. Unmanned airborne vehicles (UAVs) have been effectively incorporated into several cultural heritage projects mainly for mapping archeological sites. However, the majority of relevant publications lack of quantitative evaluation of their results and when such a validation is provided it is rather a procedural error estimation readily available from the software used, without independent ground truth verification. In this study, a low-cost custom-built hexacopter prototype was employed to deliver accurate mapping of the traditional settlement of Kamariotis in east Crete, Greece. The case of Kamariotis settlement included highly dense urban structures with continuous building forms, curved walls and missing terraces, while wild vegetation made classic geodetic surveying unfeasible. The resulting maps were qualitatively compared against the ones derived using Google Earth and the Greek Cadastral Orthophoto Viewing platforms to evaluate their applicability for architectural mapping. Moreover, the overall precision of the photogrammetric procedure was compared against geodetic surveying.

  20. Determinants of contractor pricing strategy

    OpenAIRE

    Moses, O. Douglas

    1988-01-01

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

  1. 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.

  2. 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

  3. Intranational Price Convergence and Price Stickiness

    DEFF Research Database (Denmark)

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

    2017-01-01

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

  4. Oil prices: Breaks and trends

    International Nuclear Information System (INIS)

    Noguera, José

    2013-01-01

    This paper contributes to the literature of the stationarity of financial time series and the literature on oil and macroeconomics in several ways. First, it uses Kejriwal and Perron (2010) sequential procedure to endogenously determine multiple structural changes in real oil prices without facing the circular testing problem between structural changes and stationary assumptions of previous tests. Second, it performs a diagnostic check to detect the significance and magnitude of the potential breaks. Third, it uses the above information to test for the existence of stochastic trends in real oil prices, and fourth, it speculates about possible explanations for the break dates found in order to encourage further work and discussions. The exercise uses monthly data from January 1861 to August 2011. - Highlights: ► The model endogenously determine multiple structural changes in real oil prices. ► The methods used does not face the circular testing problem. ► It also detect the significance and magnitude of the breaks detected. ► It tests for the existence of stochastic trends. ► It explains the reasons for the break dates found

  5. 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

  6. Madrid principles of Nagorno-Karabakh settlement

    Directory of Open Access Journals (Sweden)

    K K Babayan

    2014-12-01

    Full Text Available As part of this work presents the analysis of the basic document and the legal framework of the peace settlement of the Nagorno-Karabakh conflict on the modern stage - «Madrid or Basic principles», presented to the sides of the negotiations at the OSCE ministerial conference in the Spanish capital Madrid in November 2007. The both side’s statements, international mediators and institutes form a legal background of the vector and the framework of the negotiation process. There are the fundamental differences and contradictions in the approaches of the sides of the negotiations to the «Basic principles» of the settlement in this article. The work contains a comparison of the various items and elements of the Madrid document both in relation to each other, and to the principles of international law.

  7. Spatial Analyses of Harappan Urban Settlements

    Directory of Open Access Journals (Sweden)

    Hirofumi Teramura

    2006-12-01

    Full Text Available The Harappan Civilization occupies a unique place among the early civilizations of the world with its well planned urban settlements, advanced handicraft and technology, religious and trade activities. Using a Geographical Information Systems (GIS, this study presents spatial analyses that locate urban settlements on a digital elevation model (DEM according to the three phases of early, mature and late. Understanding the relationship between the spatial distribution of Harappan sites and the change in some factors, such as topographic features, river passages or sea level changes, will lead to an understanding of the dynamism of this civilization. It will also afford a glimpse of the factors behind the formation, development, and decline of the Harappan Civilization.

  8. Modern settlements in special needs education

    DEFF Research Database (Denmark)

    Ratner, Helene Gad

    2016-01-01

    . Settlements of this controversy govern whether the pupil or the educational institution becomes the main point of intervention. In Denmark, the particularities of settlements can be identified by juxtaposing the introduction of intelligence testing in the 1930s with the contemporary policy agenda of inclusion....... With intelligence testing, special needs education was to service children whose needs were seen as part of their human nature. Inclusion, in turn, assumes special needs to be stigmatizing cultural labels that need to be abandoned by changing school cultures. Drawing on actor-network theory we can approach......In the history of special needs education, the distinction between human nature and its social environment has been a controversial matter. The controversy regards whether special needs are primarily caused by the child's psycho-medical body or by cultural concepts of normality and deviance...

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

    International Nuclear Information System (INIS)

    Piha, M.

    1994-01-01

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

  10. Balancing the edge effects budget: bay scallop settlement and loss along a seagrass edge.

    Science.gov (United States)

    Carroll, John M; Furman, Bradley T; Tettelbach, Stephen T; Peterson, Bradley J

    2012-07-01

    Edge effects are a dominant subject in landscape ecology literature, yet they are highly variable and poorly understood. Often, the literature suggests simple models for edge effects-positive (enhancement at the edge), negative (enhancement at the interior), or no effect (neutral)--on a variety of metrics, including abundance, diversity, and mortality. In the marine realm, much of this work has focused on fragmented seagrass habitats due to their importance for a variety of commercially important species. In this study, the settlement, recruitment, and survival of bay scallops was investigated across a variety of seagrass patch treatments. By simultaneously collecting settlers (those viable larvae available to settle and metamorphose) and recruits (those settlers that survive some period of time, in this case, 6 weeks) on the same collectors, we were able to demonstrate a "balance" between positive and negative edge effects, resulting in a net neutral effect. Scallop settlement was significantly enhanced along seagrass edges, regardless of patch type while survival was elevated within patch interiors. However, recruitment (the net result of settlement and post-settlement loss) did not vary significantly from edge to center, representing a neutral effect. Further, results suggest that post-settlement loss, most likely due to predation, appears to be the dominant mechanism structuring scallop abundance, not patterns in settlement. These data illustrate the complexity of edge effects, and suggest that the metric used to investigate the effect (be it abundance, survival, or other metrics) can often influence the magnitude and direction of the perceived effect. Traditionally, high predation along a habitat edge would have indicated an "ecological trap" for the species in question; however, this study demonstrates that, at the population level, an ecological trap may not exist.

  11. Retail fuel price adjustment in Germany: A threshold cointegration approach

    International Nuclear Information System (INIS)

    Asane-Otoo, Emmanuel; Schneider, Jan

    2015-01-01

    Consumers in Germany often complain that retail fuel prices usually adjust quickly to crude oil price increases than decreases and characterize this pricing pattern as market power exploitation. In this paper, we use both weekly national and daily city-specific (Berlin, Hamburg, Munich and Cologne) data to investigate the extent to which retail fuel prices in Germany adjust to changes in the international crude oil price. At the national level with weekly prices, we find positive asymmetries for both gasoline and diesel within the period 2003–2007, reflecting that retail prices react more swiftly to crude oil price increases than decreases. In contrast, for 2009–2013, we observe symmetric adjustment and negative asymmetry for retail diesel and gasoline prices, respectively. The city level analysis supports our findings in the latter time period. Thus, regulatory measures aimed at the retail fuel market over recent years seem to have been effective, and, contrary to consumers' perception, we find no evidence for excessive market power or collusion. - Highlights: • The paper examines the adjustment of German retail fuel (gasoline and diesel) prices to international crude oil price changes. • An error correction model with threshold cointegration is used to investigate the price dynamics. • The findings generally point to a competitive retail fuel pricing, notwithstanding the oligopolistic market structure

  12. COMPENSATORY INTEREST SETTLEMENT AND CREDIT BANKING MORATORIUM

    OpenAIRE

    Avelino Sánchez, Esteban Marino

    2014-01-01

    First is explained the reasons for this article, it mentions the specific legal rules that support the settlement of interest on the credit operations of companies in the financial system with end users, and then presents the average interest rates of some operations credit. Then we present the formula for calculating interest, and illustrates its application with examples 1 and 2 (the simplest). The following is, in examples 3 and 4, the calculation of interest with imputation of partial pay...

  13. Historical topography of the Tsarev settlement site

    Directory of Open Access Journals (Sweden)

    Glukhov Aleksandr A.

    2014-06-01

    Full Text Available The topography of the Tsarev settlement site, one of major Golden Horde monuments in the Lower Volga region, is analyzed. The first descriptions of the settlement refer to the second half of the 18th century, while the initial large-scale excavations on the monument were conducted in the mid-19th century. By that time, the scientific community had adhered to the opinion that the ruins of Sarai (the city mainly associated with the Tsarev settlement site would stretch to a great distance from the Akhtuba river-head to Kolobovka village. The results of archaeological research of the 20th – early 21st century make it possible to challenge this view. To date, it is an established fact that the size of the actual urban area had constituted 5 x 2.2–2.3 km. The southern part of the city was occupied by the estates of the nobility, the central and northern parts were represented by trade and artisan quarters. Around the city, there were suburban cemeteries, including brick mausoleums (the ruins of which could be mistaken for the remains of dwellings in the 19th century, as well as the areas of irrigated agriculture.

  14. Price learning during grocery shopping

    DEFF Research Database (Denmark)

    Jensen, Birger Boutrup

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

  15. Assessing Asset Pricing Anomalies

    NARCIS (Netherlands)

    W.A. de Groot (Wilma)

    2017-01-01

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

  16. Poverty and price transmission

    DEFF Research Database (Denmark)

    Elleby, Christian

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

  17. Essays on asset pricing

    NARCIS (Netherlands)

    Nazliben, Kamil

    2015-01-01

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

  18. Selecting Lower Priced Items.

    Science.gov (United States)

    Kleinert, Harold L.; And Others

    1988-01-01

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

  19. Petroleum: Price trends

    International Nuclear Information System (INIS)

    Babusiaux, Denis; Pierru, Axel

    2010-01-01

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

  20. Pricing Mechanism in Information Goods

    OpenAIRE

    Li, Xinming; Wang, Huaqing

    2018-01-01

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

  1. Price Formation by Bargaining and Posted Prices

    NARCIS (Netherlands)

    Kultti, K.K.

    1997-01-01

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

  2. The structure of production costs of the different energy channels and the occurred learning for the formation of market prices and the operators strategy

    International Nuclear Information System (INIS)

    2001-12-01

    The first part of the report aims to fill the gap of data base describing the primary energies costs and the formation of their prices under geopolitical constraints. The second part describes how the arbitration terms between primary energies are modified by the electric power sector liberalization. The last part presents the complexity of the strategies used by the energy sector operators. Some recommendations on the market regulation are provided. (A.L.B.)

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

    Science.gov (United States)

    Crompton, John L.

    1981-01-01

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

  4. 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.

  5. 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)

  6. The Impact of the 2008 Global Financial Crisis on the Structure of the Transmission of Price Innovations Across Financial Markets: The Case of Southwest Asian Equity Markets

    Directory of Open Access Journals (Sweden)

    Liao Qunfeng

    2016-06-01

    Full Text Available This study examines the reaction of Southeast Asian equity markets to the transmission of price innovations from major equity markets during the pre and post periods of the 2008 global financial crisis. In particular, we examine the reaction of returns indices in Malaysia, the Philippines, South Korea, Taiwan, and Thailand as endogenous variables, and compare them to the returns indices of the U.S., the Eurozone, Japan, and China as exogenous variables. The results of VAR models indicate the combined and individual impact of the price innovations from the major equity markets on the volatility of returns of selected countries is relatively trivial during either the pre- or post-financial crisis periods. However, the individual impact of the U.S. innovations is generally higher during the post-financial crisis. The ARCH and GARCH models indicate the stock markets of Southeast Asian countries are more responsive to their own price innovations during both the pre- and the post-crisis periods, although some response to U.S. and Eurozone shocks is also observed.

  7. A novel assessment of the traction forces upon settlement of two typical marine fouling invertebrates using PDMS micropost arrays

    Directory of Open Access Journals (Sweden)

    Kang Xiao

    2018-01-01

    Full Text Available Marine biofouling poses a severe threat to maritime and aquaculture industries. To prevent the attachment of marine biofouling organisms on man-made structures, countless cost and effort was spent annually. In particular, most attention has been paid on the development of efficient and environmentally friendly fouling-resistant coatings, as well as larval settlement mechanism of several major biofouling invertebrates. In this study, polydimethylsiloxane (PDMS micropost arrays were utilized as the settlement substrata and opposite tractions were identified during early settlement of the barnacle Amphibalanus amphitrite and the bryozoan Bugula neritina. The settling A. amphitrite pushed the periphery microposts with an average traction force of 376.2 nN, while settling B. neritina pulled the periphery microposts with an average traction force of 205.9 nN. These micropost displacements are consistent with the body expansion of A. amphitrite during early post-settlement metamorphosis stage and elevation of wall epithelium of B. neritina during early pre-ancestrula stage, respectively. As such, the usage of micropost array may supplement the traditional histological approach to indicate the early settlement stages or even the initiation of larval settlement of marine fouling organisms, and could finally aid in the development of automatic monitoring platform for the real-time analysis on this complex biological process.

  8. Mind your pricing cues.

    Science.gov (United States)

    Anderson, Eric; Simester, Duncan

    2003-09-01

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

  9. Inflation and Intramarket Price Variability: Empirical Evidence from U.S. Food Products

    OpenAIRE

    Baek, Jungho

    2010-01-01

    The objective of this paper is to examine the response of relative price variability on U.S. food markets to food price inflation to identify whether such inflation influences the structure of relative prices between different food products. Results show that changes in food price inflation rate have a strong positive effect on the structure of relative prices across food products. In addition, the expected rate of inflation is found to be more important than the unexpected components as a de...

  10. Cigarette price level and variation in five Southeast Asian countries.

    Science.gov (United States)

    Liber, Alex C; Ross, Hana; Ratanachena, Sophapan; Dorotheo, E Ulysses; Foong, Kin

    2015-06-01

    To monitor and analyse impacts of the interaction between tobacco excise tax policy and industry price strategy, on the price level and variation of cigarettes sold in five Southeast Asian countries (Indonesia, Cambodia, Lao PDR, the Philippines and Vietnam). Prices of cigarette sold by sticks and packs were collected through an in-person survey of retailers during 2011. Mean cigarette prices and price variation were calculated in each study country for single cigarettes, whole packs and brand groups. Price variation of whole packs was greater in countries with ad-valorem excise tax structures (Cambodia, Lao PDR and Vietnam) than in countries with multitiered specific excise taxes (Indonesia and the Philippines). The price variation for single sticks appeared to be driven by local currency denomination. Cigarettes sold individually cost more per stick than cigarettes sold in whole packs in every brand group except for Indonesia's domestic brands. Tobacco industry strategy and excise tax structure drove the price level and variation of cigarettes sold in packs, while currency denominations influence the selling price of single sticks. To maximise the effectiveness of tobacco tax policies, countries should adopt specific excise tax structures to decrease cigarette price variation, which would minimise opportunities for smokers to 'trade down' to a cheaper brand to avoid a tax-driven price increase. 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.

  11. 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...

  12. NASA policy on pricing shuttle launch services

    Science.gov (United States)

    Smith, J. M.

    1977-01-01

    The paper explains the rationale behind key elements of the pricing policy for STS, the major features of the non-government user policy, and some of the stimulating features of the policy which will open space to a wide range of new users. Attention is given to such major policy features as payment schedule, cost and standard services, the two phase pricing structure, optional services, shared flights, cancellation and postponement, and earnest money.

  13. Speculative phenomena impact on oil prices formation

    International Nuclear Information System (INIS)

    Thomas, Matthieu

    2009-01-01

    Crude oil prices evolution between 2007 and 2009 has been the centre of a major controversy. This paper aims to understand the structural changes which happened on the oil market during the past decade. Analysis is focused on the consequences on oil prices of growing financial investments in commodities. More specifically, emphasis is set on little commented facts that comfort the hypothesis of a speculative bubble between 2007 and 2009

  14. Green pricing: A Colorado case study

    Energy Technology Data Exchange (ETDEWEB)

    Blank, E.; Udall, J.R.

    1996-12-31

    A model program for green pricing targeted primarily at large customers is proposed in this paper. The program would create a partnership between a local community group, a renewables advocacy group, and several Colorado utilities. The first part of the paper summarizes pertinent background issues, including utility experience with green pricing programs. The rest of the paper outlines the program proposal, focusing primarily on organizational structure.

  15. Evaluating drug prices, availability, affordability, and price components: implications for access to drugs in Malaysia.

    Science.gov (United States)

    Babar, Zaheer Ud Din; Ibrahim, Mohamed Izham Mohamed; Singh, Harpal; Bukahri, Nadeem Irfan; Creese, Andrew

    2007-03-27

    Malaysia's stable health care system is facing challenges with increasing medicine costs. To investigate these issues a survey was carried out to evaluate medicine prices, availability, affordability, and the structure of price components. The methodology developed by the World Health Organization (WHO) and Health Action International (HAI) was used. Price and availability data for 48 medicines was collected from 20 public sector facilities, 32 private sector retail pharmacies and 20 dispensing doctors in four geographical regions of West Malaysia. Medicine prices were compared with international reference prices (IRPs) to obtain a median price ratio. The daily wage of the lowest paid unskilled government worker was used to gauge the affordability of medicines. Price component data were collected throughout the supply chain, and markups, taxes, and other distribution costs were identified. In private pharmacies, innovator brand (IB) prices were 16 times higher than the IRPs, while generics were 6.6 times higher. In dispensing doctor clinics, the figures were 15 times higher for innovator brands and 7.5 for generics. Dispensing doctors applied high markups of 50%-76% for IBs, and up to 316% for generics. Retail pharmacy markups were also high-25%-38% and 100%-140% for IBs and generics, respectively. In the public sector, where medicines are free, availability was low even for medicines on the National Essential Drugs List. For a month's treatment for peptic ulcer disease and hypertension people have to pay about a week's wages in the private sector. The free market by definition does not control medicine prices, necessitating price monitoring and control mechanisms. Markups for generic products are greater than for IBs. Reducing the base price without controlling markups may increase profits for retailers and dispensing doctors without reducing the price paid by end users. To increase access and affordability, promotion of generic medicines and improved availability

  16. Evaluating drug prices, availability, affordability, and price components: implications for access to drugs in Malaysia.

    Directory of Open Access Journals (Sweden)

    Zaheer Ud Din Babar

    2007-03-01

    Full Text Available BACKGROUND: Malaysia's stable health care system is facing challenges with increasing medicine costs. To investigate these issues a survey was carried out to evaluate medicine prices, availability, affordability, and the structure of price components. METHODS AND FINDINGS: The methodology developed by the World Health Organization (WHO and Health Action International (HAI was used. Price and availability data for 48 medicines was collected from 20 public sector facilities, 32 private sector retail pharmacies and 20 dispensing doctors in four geographical regions of West Malaysia. Medicine prices were compared with international reference prices (IRPs to obtain a median price ratio. The daily wage of the lowest paid unskilled government worker was used to gauge the affordability of medicines. Price component data were collected throughout the supply chain, and markups, taxes, and other distribution costs were identified. In private pharmacies, innovator brand (IB prices were 16 times higher than the IRPs, while generics were 6.6 times higher. In dispensing doctor clinics, the figures were 15 times higher for innovator brands and 7.5 for generics. Dispensing doctors applied high markups of 50%-76% for IBs, and up to 316% for generics. Retail pharmacy markups were also high-25%-38% and 100%-140% for IBs and generics, respectively. In the public sector, where medicines are free, availability was low even for medicines on the National Essential Drugs List. For a month's treatment for peptic ulcer disease and hypertension people have to pay about a week's wages in the private sector. CONCLUSIONS: The free market by definition does not control medicine prices, necessitating price monitoring and control mechanisms. Markups for generic products are greater than for IBs. Reducing the base price without controlling markups may increase profits for retailers and dispensing doctors without reducing the price paid by end users. To increase access and

  17. Evaluating Drug Prices, Availability, Affordability, and Price Components: Implications for Access to Drugs in Malaysia

    Science.gov (United States)

    Babar, Zaheer Ud Din; Ibrahim, Mohamed Izham Mohamed; Singh, Harpal; Bukahri, Nadeem Irfan; Creese, Andrew

    2007-01-01

    Background Malaysia's stable health care system is facing challenges with increasing medicine costs. To investigate these issues a survey was carried out to evaluate medicine prices, availability, affordability, and the structure of price components. Methods and Findings The methodology developed by the World Health Organization (WHO) and Health Action International (HAI) was used. Price and availability data for 48 medicines was collected from 20 public sector facilities, 32 private sector retail pharmacies and 20 dispensing doctors in four geographical regions of West Malaysia. Medicine prices were compared with international reference prices (IRPs) to obtain a median price ratio. The daily wage of the lowest paid unskilled government worker was used to gauge the affordability of medicines. Price component data were collected throughout the supply chain, and markups, taxes, and other distribution costs were identified. In private pharmacies, innovator brand (IB) prices were 16 times higher than the IRPs, while generics were 6.6 times higher. In dispensing doctor clinics, the figures were 15 times higher for innovator brands and 7.5 for generics. Dispensing doctors applied high markups of 50%–76% for IBs, and up to 316% for generics. Retail pharmacy markups were also high—25%–38% and 100%–140% for IBs and generics, respectively. In the public sector, where medicines are free, availability was low even for medicines on the National Essential Drugs List. For a month's treatment for peptic ulcer disease and hypertension people have to pay about a week's wages in the private sector. Conclusions The free market by definition does not control medicine prices, necessitating price monitoring and control mechanisms. Markups for generic products are greater than for IBs. Reducing the base price without controlling markups may increase profits for retailers and dispensing doctors without reducing the price paid by end users. To increase access and affordability

  18. Comparison of extended mean-reversion and time series models for electricity spot price simulation considering negative prices

    International Nuclear Information System (INIS)

    Keles, Dogan; Genoese, Massimo; Möst, Dominik; Fichtner, Wolf

    2012-01-01

    This paper evaluates different financial price and time series models, such as mean reversion, autoregressive moving average (ARMA), integrated ARMA (ARIMA) and general autoregressive conditional heteroscedasticity (GARCH) process, usually applied for electricity price simulations. However, as these models are developed to describe the stochastic behaviour of electricity prices, they are extended by a separate data treatment for the deterministic components (trend, daily, weekly and annual cycles) of electricity spot prices. Furthermore price jumps are considered and implemented within a regime-switching model. Since 2008 market design allows for negative prices at the European Energy Exchange, which also occurred for several hours in the last years. Up to now, only a few financial and time series approaches exist, which are able to capture negative prices. This paper presents a new approach incorporating negative prices. The evaluation of the different approaches presented points out that the mean reversion and the ARMA models deliver the lowest mean root square error between simulated and historical electricity spot prices gained from the European Energy Exchange. These models posses also lower mean average errors than GARCH models. Hence, they are more suitable to simulate well-fitting price paths. Furthermore it is shown that the daily structure of historical price curves is better captured applying ARMA or ARIMA processes instead of mean-reversion or GARCH models. Another important outcome of the paper is that the regime-switching approach and the consideration of negative prices via the new proposed approach lead to a significant improvement of the electricity price simulation. - Highlights: ► Considering negative prices improves the results of time-series and financial models for electricity prices. ► Regime-switching approach captures the jumps and base prices quite well. ► Removing and separate modelling of deterministic annual, weekly and daily

  19. Beyond the EPBD: The low energy residential settlement Borgo Solare

    International Nuclear Information System (INIS)

    Aste, Niccolo; Adhikari, R.S.; Buzzetti, Michela

    2010-01-01

    The European Directive on Energy Performance of Buildings (EPBD) imposes the adoption of measures for improving the energy efficiency in buildings. These measures should take into account the local weather conditions as well as internal thermal environment and cost-effectiveness. In this respect, Italy is a very interesting benchmark. For Northern Italy, the climatic context is particularly difficult to deal with cold winters and hot summers. The legislations are changing very rapidly, but has not fully adapted to the local context. The considered methodology still involves winter heating while summer cooling is addressed in incomplete and inadequate ways. The energy issue is addressed only partially as final energy consumption, but with little attention to LCA. Moreover, the belief that the buildings with high energy savings are too expensive, and therefore not attractive from economic point of view. For these reasons, it is very important to develop case studies to demonstrate the effectiveness of sustainable energy in architecture, according to a holistic approach. This paper describes a detailed techno-economic analysis for Borgo Solare project, an extremely advanced and innovative residential settlement designed on sustainable architecture concepts. One of the most innovative aspects of the project is that it is not just an experimental operation but Borgo Solare is a real urban district, which will be built without public funds and should be inhabited by common people. Excellent energy performance, therefore, must be accompanied by affordable market prices. The energy and economical analysis is presented taking into account also the embodied energy of the building. The results on the performance of a sample building (case study) of this settlement are reported, according to different construction standards: prior to EPBD, present from the EPBD and more efficient developed specifically for the project. It has been shown that using the better design practices

  20. 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. ...