48 CFR 52.243-1 - Changes-Fixed-Price.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 2 2010-10-01 2010-10-01 false Changes-Fixed-Price. 52....243-1 Changes—Fixed-Price. As prescribed in 43.205(e), insert the following clause: Changes—Fixed-Price (AUG 1987) (a) The Contracting Officer may at any time, by written order, and without notice to...

48 CFR 229.402-1 - Foreign fixed-price contracts.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Foreign fixed-price... Foreign fixed-price contracts. Use the clause at 252.229-7000, Invoices Exclusive of Taxes or Duties, in solicitations and contracts when a fixed-price contract will be awarded to a foreign concern. ...

The price of fixed income market volatility

CERN Document Server

Mele, Antonio

2015-01-01

Fixed income volatility and equity volatility evolve heterogeneously over time, co-moving disproportionately during periods of global imbalances and each reacting to events of different nature. While the methodology for options-based "model-free" pricing of equity volatility has been known for some time, little is known about analogous methodologies for pricing various fixed income volatilities. This book fills this gap and provides a unified evaluation framework of fixed income volatility while dealing with disparate markets such as interest-rate swaps, government bonds, time-deposits and credit. It develops model-free, forward looking indexes of fixed-income volatility that match different quoting conventions across various markets, and uncovers subtle yet important pitfalls arising from naïve superimpositions of the standard equity volatility methodology when pricing various fixed income volatilities. The ultimate goal of the authors´ efforts is to make interest rate volatility standardization a valuable...

Competition policy: consequences of restrictive trade practices and price-fixing provisions for medical practitioners in Australia and New Zealand.

Science.gov (United States)

Janes, Hanne

2006-05-01

Competition laws have only applied to many participants in the health care industry in Australia and New Zealand since the mid 1990s. Since then, the Australian Competition and Consumer Commission has considered a number of applications by medical practitioner associations and private hospitals to authorise potentially anti-competitive conduct, while the New Zealand Commerce Commission has successfully prosecuted a group of ophthalmologists. Amongst medical practitioners, however, there is still confusion and misunderstanding concerning the type of conduct caught by the Australian Trade Practices Act 1974 (Cth) and the New Zealand Commerce Act 1986 (NZ). This is of serious concern given the substantial penalties associated with price-fixing and restrictive trade practices. This article examines the provisions of these Acts most relevant to medical practitioners as well as a number of determinations and judicial decisions. To provide practical assistance to medical practitioners, the key lessons are extracted.

48 CFR 46.307 - Fixed-price research and development contracts.

Science.gov (United States)

2010-10-01

... REGULATION CONTRACT MANAGEMENT QUALITY ASSURANCE Contract Clauses 46.307 Fixed-price research and development... Development—Fixed-Price, in solicitations and contracts for research and development when (1) the primary... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Fixed-price research and...

48 CFR 1816.202 - Firm-fixed-price contracts.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Firm-fixed-price contracts. 1816.202 Section 1816.202 Federal Acquisition Regulations System NATIONAL AERONAUTICS AND SPACE ADMINISTRATION CONTRACTING METHODS AND CONTRACT TYPES TYPES OF CONTRACTS Fixed-Price Contracts 1816.202 Firm...

Lectures on Antitrust Economics, Chapter 2: Price Fixing

OpenAIRE

Whinston, Michael D.

2003-01-01

In this chapter, we begin our discussion of antitrust economics by considering what many consider its most central element: its ban on "price fixing" - that is, agreements among competitors over the prices they will charge or the outputs they will produce. Indeed, the prohibition on price fixing is one area of antitrust law that even those generally skeptical of governmental compe- tition policy typically regard approvingly. Nevertheless, despite its current uncontroversial status, we shall s...

48 CFR 46.707 - Pricing aspects of fixed-price incentive contract warranties.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Pricing aspects of fixed-price incentive contract warranties. 46.707 Section 46.707 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION CONTRACT MANAGEMENT QUALITY ASSURANCE Warranties 46.707 Pricing aspects of...

48 CFR 629.402-1 - Foreign fixed-price contracts.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Foreign fixed-price contracts. 629.402-1 Section 629.402-1 Federal Acquisition Regulations System DEPARTMENT OF STATE GENERAL CONTRACTING REQUIREMENTS TAXES Contract Clauses 629.402-1 Foreign fixed-price contracts. ...

48 CFR 616.207 - Firm-fixed-price, level-of-effort term contracts.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Firm-fixed-price, level-of-effort term contracts. 616.207 Section 616.207 Federal Acquisition Regulations System DEPARTMENT OF STATE CONTRACTING METHODS AND CONTRACT TYPES TYPES OF CONTRACTS Fixed-Price Contracts 616.207 Firm-fixed-price...

Pricing Software and Information on CD-ROM.

Science.gov (United States)

Gibbins, Patrick

1987-01-01

Examines the relationships between purchases of optical data disk products, publishers, and software suppliers. The discussion covers current pricing strategies for optical data disk software and information products, and possible future developments in marketing and pricing. (CLB)

48 CFR 52.249-7 - Termination (Fixed-Price Architect-Engineer).

Science.gov (United States)

2010-10-01

... Architect-Engineer). 52.249-7 Section 52.249-7 Federal Acquisition Regulations System FEDERAL ACQUISITION... Clauses 52.249-7 Termination (Fixed-Price Architect-Engineer). As prescribed in 49.503(b), insert the following clause in solicitations and contracts for architect-engineer services when a fixed-price contract...

48 CFR 16.207 - Firm-fixed-price, level-of-effort term contracts.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Firm-fixed-price, level-of-effort term contracts. 16.207 Section 16.207 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION CONTRACTING METHODS AND CONTRACT TYPES TYPES OF CONTRACTS Fixed-Price Contracts 16.207 Firm-fixed...

48 CFR 16.403-1 - Fixed-price incentive (firm target) contracts.

Science.gov (United States)

2010-10-01

... (firm target) contracts. 16.403-1 Section 16.403-1 Federal Acquisition Regulations System FEDERAL... Fixed-price incentive (firm target) contracts. (a) Description. A fixed-price incentive (firm target... incentive (firm target) contract is appropriate when the parties can negotiate at the outset a firm target...

Formulation of price strategies in the software sector: outsourcing of development and maintenance software product case

Directory of Open Access Journals (Sweden)

Antonio Cezar Bornia

2008-07-01

Full Text Available The main goal of this article is to discuss the formulation of price strategies in the software sector. In the intention of reaching the proposed goal, strategies models of prices are introduced along with the procedure to the formulation of price strategies, composed by five stages: external and internal analyses, consolidation, positioning, price strategy formalization and market attendance. As for the methodology, the study is classified as qualitative, exploratory, descriptive, documental, of field and case study, according to the approach of Vergara (1998. In the case study, the model to the formulation of price strategies is applied in a company’s software sector, being analyzed the outsourcing of development and maintenance software product. As main contributions, it is highlighted the price procedure application that emphasizes strategic price logic and prices strategies formulations, with base in the analysis of five main factors: quality, comparison with the competition, company life cycle, product life cycle and characteristics of the segment-objective. Based on the analyzed factors, a possible strategy to be adopted considering the characteristics of the product and the company is the price strategy and superior value. Key-words: Pricing Strategies. Price Formulation. Software Enterprises.

76 FR 57677 - Defense Federal Acquisition Regulation Supplement; Increase the Use of Fixed-Price Incentive...

Science.gov (United States)

2011-09-16

...] RIN 0750-AH15 Defense Federal Acquisition Regulation Supplement; Increase the Use of Fixed-Price...-price incentive (firm target) contracts, with particular attention to share lines and ceiling prices... the use of fixed-price incentive (firm target) contracts, especially for acquisitions moving from...

Digital fixation: the law and economics of a fixed e-book price

NARCIS (Netherlands)

Poort, J.; van Eijk, N.

2017-01-01

Fifteen OECD countries, ten of which EU members, have regulation for fixing the price of printed books. At least eight of these have extended such regulation to e-books. This article investigates the cultural and economic arguments as well as the legal context concerning a fixed price for e-books

48 CFR 52.246-7 - Inspection of Research and Development-Fixed-Price.

Science.gov (United States)

2010-10-01

... Clauses 52.246-7 Inspection of Research and Development—Fixed-Price. As prescribed in 46.307(a), insert the following clause: Inspection of Research and Development—Fixed-Price (AUG 1996) (a) The Contractor... 48 Federal Acquisition Regulations System 2 2010-10-01 2010-10-01 false Inspection of Research and...

75 FR 13422 - Federal Acquisition Regulation; FAR Case 2008-015, Payments Under Fixed-Price Architect-Engineer...

Science.gov (United States)

2010-03-19

...-AL26 Federal Acquisition Regulation; FAR Case 2008-015, Payments Under Fixed-Price Architect-Engineer..., Payments Under Fixed-Price Architect-Engineer Contracts, currently requires contracting officers to... judgment regarding the amount of payment withheld to apply under fixed-price architect-engineer (A-E...

Asset Prices and Trading Volume under Fixed Transactions Costs.

Science.gov (United States)

Lo, Andrew W.; Mamaysky, Harry; Wang, Jiang

2004-01-01

We propose a dynamic equilibrium model of asset prices and trading volume when agents face fixed transactions costs. We show that even small fixed costs can give rise to large "no-trade" regions for each agent's optimal trading policy. The inability to trade more frequently reduces the agents' asset demand and in equilibrium gives rise to a…

48 CFR 16.403-2 - Fixed-price incentive (successive targets) contracts.

Science.gov (United States)

2010-10-01

... target cost plus the firm target profit as a guide. (ii) If negotiation of a firm fixed price is... pricing information is not sufficient to permit the negotiation of a realistic firm target cost and profit...; and (2) Cost or pricing information adequate for establishing a reasonable firm target cost is...

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

OpenAIRE

Cotterill, Ronald W.

1998-01-01

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

Analyzing and Predicting Effort Associated with Finding and Fixing Software Faults

Science.gov (United States)

Hamill, Maggie; Goseva-Popstojanova, Katerina

2016-01-01

Context: Software developers spend a significant amount of time fixing faults. However, not many papers have addressed the actual effort needed to fix software faults. Objective: The objective of this paper is twofold: (1) analysis of the effort needed to fix software faults and how it was affected by several factors and (2) prediction of the level of fix implementation effort based on the information provided in software change requests. Method: The work is based on data related to 1200 failures, extracted from the change tracking system of a large NASA mission. The analysis includes descriptive and inferential statistics. Predictions are made using three supervised machine learning algorithms and three sampling techniques aimed at addressing the imbalanced data problem. Results: Our results show that (1) 83% of the total fix implementation effort was associated with only 20% of failures. (2) Both safety critical failures and post-release failures required three times more effort to fix compared to non-critical and pre-release counterparts, respectively. (3) Failures with fixes spread across multiple components or across multiple types of software artifacts required more effort. The spread across artifacts was more costly than spread across components. (4) Surprisingly, some types of faults associated with later life-cycle activities did not require significant effort. (5) The level of fix implementation effort was predicted with 73% overall accuracy using the original, imbalanced data. Using oversampling techniques improved the overall accuracy up to 77%. More importantly, oversampling significantly improved the prediction of the high level effort, from 31% to around 85%. Conclusions: This paper shows the importance of tying software failures to changes made to fix all associated faults, in one or more software components and/or in one or more software artifacts, and the benefit of studying how the spread of faults and other factors affect the fix implementation

Legal fixing of the electricity market price; Die juristische Bestimmung des Marktpreises fuer Strom

Energy Technology Data Exchange (ETDEWEB)

Lindner, Thomas

2011-07-01

The book attempts to analyze the problems of fixing electricity rates by law and to develop an approach for determining the market price for electricity. The focus is on industrial customers as this is the sector in which the market price is of practical relevance. Private customers are gone into if necessary, as is the stock market price. The main problem in determining the free market price is the very fact that it is free, i.e. in contrast to the stock market price it is not fixed and published officially. The book therefore analyzes the abstract preconditions for determining the free market price. (orig./RHM)

Lawsuits allege price fixing by generic drug makers

Directory of Open Access Journals (Sweden)

Robbins RA

2016-12-01

Full Text Available No abstract available. Article truncated at 150 words. Two years after high generic drug prices became a public controversy, Reuters is reporting that 20 states filed a lawsuit Thursday against Mylan, Teva Pharmaceuticals and four other generic drug makers (1. The suit alleges the companies conspired to fix prices or allocated markets to prop up prices. The civil lawsuit, led by antitrust investigators in Connecticut, comes one day after the U.S. Department of Justice filed criminal charges against two former executives of the generic drug maker, Heritage. The states attorneys general asked the court to order the companies to disgorge ill-gotten gains, which were not defined, pay attorneys' fees and stop collusion. Of the states in the Southwest only Nevada is participating in the lawsuit. The cases are part of a broader generic drug pricing probe that remains under way at the state and federal level, as well as in the U.S. Congress. In 2014, media reports of …

Software-Programmed Optical Networking with Integrated NFV Service Provisioning

DEFF Research Database (Denmark)

Mehmeri, Victor; Wang, Xi; Basu, Shrutarshi

2017-01-01

We showcase demonstrations of “program & compile” styled optical networking as well as open platforms & standards based NFV service provisioning using a proof-of-concept implementation of the Software-Programmed Networking Operating System (SPN OS).......We showcase demonstrations of “program & compile” styled optical networking as well as open platforms & standards based NFV service provisioning using a proof-of-concept implementation of the Software-Programmed Networking Operating System (SPN OS)....

Creating Competitive Advantage by Rethinking B2B Software Pricing

OpenAIRE

Adelstrand, Carl; Brostedt, Emil

2016-01-01

The choice of pricing model for software products is a complex procedure due to the different characteristics compared to physical products. This thesis investigates and compares software pricing models in a B2B setting, and describes how KAM plays a role in executing a pricing model. The research has been conducted as an opportunist case study on Adebro, a technology company in the B2B sector. The thesis have come to the following conclusions, with data from interviews and literature: Perpet...

Beyond the dogma of the fixed book price agreement

NARCIS (Netherlands)

van der Ploeg, F.

2004-01-01

After describing the essential features of the book market, a welfare analysisof the fixed book price agreement is given. Allowance is made for theopportunity cost of reading. Theoretically such an agreement pushes up bookprices and depresses book sales. However, more titles will be

Impacts of Transitioning from Firm Fixed Price to Fixed Price Incentive Firm Target Contracts in PEO Missiles and Space

Science.gov (United States)

2016-09-01

this graph, the Defense Index recognized lower operating margins than S&P indices for capital goods, pharmaceuticals and biotechnology , technical...Research Service. https://www.fas.org/sgp/crs/weapons/RS22942.pdf Frick, D. (2013). Risk in fixed-price contracts. Defense AT&L Magazine . November...Joint_Light_Tactical_Vehicle Kendall, F. (2011). Better Buying Power special issue foreword. Defense AT&L Magazine . September-October 2011. Retrieved from http://www.dau.mil

Beyond Illinois Brick: The Law and Economics of Cost Pass-Through in the ADM Price Fixing Case

OpenAIRE

Ronald W. Cotterill; Leonard Egan; William Buckhold

1998-01-01

This article reviews the legal standards and the economics of indirect purchaser cases. Drawn from recent cases on behalf of consumers in the ADM price fixing case, it presents cost pass through models for high fructose corn syrup (HFCS), one of the alleged price fixes in the wet corn milling industry. If soft drink bottlers, a primary user of HFCS, have fixed proportion production, constant returns to scale, and if other bottlers input prices are unaffected by variations in soft drink output...

Final Report on the Audit of Subcontract Prices on Firm-Fixed-Price Contracts Awarded to McDonnell Aircraft Company

Science.gov (United States)

1990-12-03

This is our final report on the audit of Subcontract Prices on Firm-Fixed-Price Contracts Awarded to McDonnell Aircraft Company (MCAIR). The Contract Management Directorate made the audit from October 1989 through June 1990. The objective of the audit was to compare proposed and negotiated subcontract prices and determine reasons for significant variances. We also evaluated applicable internal control procedures. For a 6-month period ending December 1989, MCAIR issued 517 subcontracts valued at $679 million.

7 CFR 250.53 - Contract provisions.

Science.gov (United States)

2010-01-01

... the food service management company will ensure that its system of inventory management will not... recipient agency's fixed-price contract with a food service management company. Such provisions must also be... management company must credit the recipient agency for the value of all donated foods received for use in...

The Evolution of Software Pricing: From Box Licenses to Application Service Provider Models.

Science.gov (United States)

Bontis, Nick; Chung, Honsan

2000-01-01

Describes three different pricing models for software. Findings of this case study support the proposition that software pricing is a complex and subjective process. The key determinant of alignment between vendor and user is the nature of value in the software to the buyer. This value proposition may range from increased cost reduction to…

Optimal software pricing in the presence of piracy and word-of-mouth effect

OpenAIRE

Liu, Yipeng; Cheng, Hsing Kenneth; Tang, Qian Candy; Eryarsoy, Enes

2011-01-01

We develop an analytical model that embeds empirical findings on software diffusion to examine optimal pricing strategies for a spreadsheet software product under coalescing effects of piracy and word-of-mouth through its entire life cycle. We find that the demand of the innovators has the most significant impact on the firm’s pricing decision. Our research recommends market skimming pricing strategy if innovators’ demand is high and the market penetration pricing strategy is preferred otherw...

Bug-Fixing and Code-Writing: The Private Provision of Open Source Software

DEFF Research Database (Denmark)

Bitzer, Jürgen; Schröder, Philipp

2002-01-01

Open source software (OSS) is a public good. A self-interested individual would consider providing such software, if the benefits he gained from having it justified the cost of programming. Nevertheless each agent is tempted to free ride and wait for others to develop the software instead...

Defense Contractor Restructuring; DoD Risks Forfeiting Savings on Fixed-Price Contracts

National Research Council Canada - National Science Library

1998-01-01

... on fixed-price contracts awarded to companies involved in a business combination between the time a combination is announced and the time that restructuring savings are reflected in the mechanism used...

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...

A theory of price-fixing/market-sharing rings as applied to OPEC behavior since march 1982

International Nuclear Information System (INIS)

Kazushi Uemura

1992-01-01

In the past, OPEC has been analyzed as a cartel, but usually without a formal theoretical framework. Don Patinkin's cartel model was occasionally used, but was turned down for being 'too strict' to explain OPEC behavior. One of the most serious short-comings of Patinkin's model is its prediction that high-cost producers would first shut down for the survival of a cartel. In OPEC agreements, it has been seen many times that Saudi Arabia (a low-cost producer) reduced its production for the survival of the cartel. A new and promising cartel theory, A theory of price-fixing/market-sharing rings, has been introduced ('CMT model'). In this paper, it is going to use CMT model's structure and model OPEC's major price-fixing/market-sharing agreements and a period without such an agreement since March, 1982 when OPEC, for the first time in its history, reached a price-fixing/market-sharing agreement. 3 refs., 2 figs., 2 tabs

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

Science.gov (United States)

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

2014-01-01

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

17 CFR 19.01 - Reports on stocks and fixed price purchases and sales pertaining to futures positions in wheat...

Science.gov (United States)

2010-04-01

... Commission or its designee. (Approved by the Office of Management and Budget under control number 3038-0009... composition of the fixed price cash position of each commodity hedged including: (1) The quantity of stocks... commitments open in such cash commodities and their products and byproducts. (3) The quantity of fixed price...

Anatomy of the Rise and Fall of a Price-Fixing Conspiracy: Auctions at Sotheby's and Christie's

OpenAIRE

Ashenfelter, Orley C; Graddy, Kathryn

2004-01-01

The Sotheby's/Christie's price-fixing scandal that ended in the public trial of Alfred Taubman provides a unique window on a number of key economic and antitrust policy issues related to the use of the auction system. The trial provided detailed evidence as to how the price fixing worked, and the economic conditions under which it was started and began to fall apart. The outcome of the case also provides evidence on the novel auction process used to choose the lead counsel for the civil settl...

An economic model to compare the profitability of pay-per-use and fixed-fee licensing

NARCIS (Netherlands)

Postmus, Douwe; Wijngaard, Jacob; Wortmann, Hans

This paper develops an economic model to compare the profitability of two strategies for the pricing of packaged software: fixed-fee and pay-per-use licensing. It is assumed that the market consists of a monopoly software vendor who is selling packaged software to Customers who are homogeneous in

Compensation schemes, liquidity provision, and asset prices: An experimental analysis

OpenAIRE

Baghestanian, Sascha; Gortner, Paul; Massenot, Baptiste

2015-01-01

In an experimental setting in which investors can entrust their money to traders, we investigate how compensation schemes affect liquidity provision and asset prices. Investors face a trade-off between risk and return. At the benefit of a potentially higher return, they can entrust their money to a trader. However this investment is risky, as the trader might not be trustworthy. Alternatively, they can opt for a safe but low return. We study how subjects solve this trade-off when traders are ...

Tuberculosis drug issues: prices, fixed-dose combination products and second-line drugs.

Science.gov (United States)

Laing, R O; McGoldrick, K M

2000-12-01

Access to tuberculosis drugs depends on multiple factors. Selection of a standard list of TB drugs to procure is the first step. This paper reviews the advantages and disadvantages of procuring and using fixed-dose combination (FDC) products for both the intensive and continuation phases of treatment. The major advantages are to prevent the emergence of resistance, to simplify logistic management and to reduce costs. The major disadvantage is the need for the manufacturers to assure the quality of these FDCs by bioavailability testing. The paper reports on the inclusion of second-line TB drugs in the 1999 WHO Essential Drug List (EDL). The need to ensure that these drugs are used within established DOTS-Plus programs is stressed. The price of TB drugs is determined by many factors, including producer prices, local taxes and duties as well as mark-ups and fees. TB drug prices for both the public and private sectors from industrialized and developing countries are reported. Price trends over time are also reported. The key findings of this study are that TB drug prices have generally declined in developing countries while they have increased in developed countries, both for the public and private sectors. Prices vary between countries, with the US paying as much as 95 times the price paid in a specific developing country. The prices of public sector first-line TB drugs vary little between countries, although differences do exist due to the procurement methods used. The price of tuberculin, a diagnostic agent, has increased dramatically in the US, with substantial inter-country variations in price. The paper suggests that further research is necessary to identify the reasons for the price disparities and changes over time, and suggests methods which can be used by National Tuberculosis Programme managers to ensure availability of quality assured TB drugs at low prices.

The Department of Energy's implementation of contract reform: Problems with the fixed-price contract to clean up Pit 9. Hearings before the Subcommittee on Oversight and Investigations of the Committee on Commerce, House of Representatives, One Hundred Fifth Congress, First session

International Nuclear Information System (INIS)

1997-01-01

This is the first of 2 days of hearings to look into the problems associated with the fixed-price contract put in place to deal with the cleanup of Pit 9 at Idaho National Engineering and Environmental Laboratory. The committee hears testimony from 7 witnesses, most of whom are accompanied by additional people. The remediation work on this project is presently behind schedule, over budget, and in a work slowdown because of funding concerns. Congress is interested in understanding what has gone wrong with this process, because other large contracts have been let with similar type fixed-cost provisions, and there is growing concern about the viability of such contracts. provisions, and there is growing concern about the viability of such contracts

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

International Nuclear Information System (INIS)

1991-01-01

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

The Pro-collusive Effect of Increasing the Repose Period for Price Fixing Agreements

OpenAIRE

Jeroen Hinloopen

2005-01-01

This discussion paper resulted in the publication The B.E. Journal of Economic Analysis & Policy (2007), 7(1), 1135. Intuitively, extending the period of repose for price fixing agreements enhances the effectiveness of competition policy enforcement. This paper proofs this intuition wrong. As extending the repose period reduces cartel members' defection payoff while it leaves unaltered expected compliance profits, it induces cartels to be more stable internally.

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.

Nonlinear Pricing of Information Goods

OpenAIRE

Arun Sundararajan

2003-01-01

This paper analyzes optimal pricing for information goods under incomplete information, when both unlimited-usage (fixed-fee) pricing and usage-based pricing are feasible, and administering usage-based pricing may involve transaction costs. It is shown that offering fixed- fee pricing in addition to a non-linear usage-based pricing scheme is always profit-improving in the presence of any non-zero transaction costs, and there may be markets in which a pure fixed-fee is optimal. This implies th...

42 CFR 137.336 - What is the difference between fixed-price and cost-reimbursement agreements?

Science.gov (United States)

2010-10-01

... 42 Public Health 1 2010-10-01 2010-10-01 false What is the difference between fixed-price and cost-reimbursement agreements? 137.336 Section 137.336 Public Health PUBLIC HEALTH SERVICE, DEPARTMENT OF HEALTH AND...-reimbursement agreements? (a) Cost-reimbursement agreements generally have one or more of the following...

Modeling and performance analysis for composite network–compute service provisioning in software-defined cloud environments

Directory of Open Access Journals (Sweden)

Qiang Duan

2015-08-01

Full Text Available The crucial role of networking in Cloud computing calls for a holistic vision of both networking and computing systems that leads to composite network–compute service provisioning. Software-Defined Network (SDN is a fundamental advancement in networking that enables network programmability. SDN and software-defined compute/storage systems form a Software-Defined Cloud Environment (SDCE that may greatly facilitate composite network–compute service provisioning to Cloud users. Therefore, networking and computing systems need to be modeled and analyzed as composite service provisioning systems in order to obtain thorough understanding about service performance in SDCEs. In this paper, a novel approach for modeling composite network–compute service capabilities and a technique for evaluating composite network–compute service performance are developed. The analytic method proposed in this paper is general and agnostic to service implementation technologies; thus is applicable to a wide variety of network–compute services in SDCEs. The results obtained in this paper provide useful guidelines for federated control and management of networking and computing resources to achieve Cloud service performance guarantees.

Characterising price fixing: a journey through the looking glass with ANSAC

Directory of Open Access Journals (Sweden)

Kasturi Moodaliyar

2012-10-01

Full Text Available In February 2005 the Supreme Court of Appeal of South Africa ruled that in deciding whether firms have contravened section 4(1(b of the Competition Act 89 of 1998, as amended, by engaging in, for example, ‘per se’ illegal price fixing, the Competition Tribunal must admit evidence relating to the nature, purpose and effect of the horizontal agreement or practice in question. This article examines the economic and legal rationale, as well as the implications, for allowing an appropriate characterisation of conduct to determine whether such conduct falls within the per se prohibition. Firstly, we comment on the rationale behind the per se rule as a standard for the adjudication of certain types of conduct. We analyse a number of cases in the United States, which, post 1979, revolutionised the approach to the strict per se rule. Secondly, we examine how the per se standard is reflected in the particular structure found in section 4(1 of the Competition Act and evaluate whether it makes for a sufficiently robust application of the per se rule. Thirdly, the content of the Supreme Court decision regarding characterisation is critically examined with a view to assessing whether such characterisation is consistent with the policy objective of achieving maximum deterrence of hard core cartel behaviour like price fixing and market division. Finally, we explore and suggest (in the absence of a Tribunal decision a possible framework, based on decision theory, for determining a method of characterisation that is consistent with the robust application of the per se standard and is in line with the Supreme Court ruling.

A Framework for Software-as-a-Service Selection and Provisioning

OpenAIRE

Badidi, Elarbi

2013-01-01

As cloud computing is increasingly transforming the information technology landscape, organizations and businesses are exhibiting strong interest in Software-as-a-Service (SaaS) offerings that can help them increase business agility and reduce their operational costs. They increasingly demand services that can meet their functional and non-functional requirements. Given the plethora and the variety of SaaS offerings, we propose, in this paper, a framework for SaaS provisioning, which relies o...

The Optimal Pricing of Computer Software and Other Products with High Switching Costs

OpenAIRE

Pekka Ahtiala

2004-01-01

The paper studies the determinants of the optimum prices of computer programs and their upgrades. It is based on the notion that because of the human capital invested in the use of a computer program by its user, this product has high switching costs, and on the finding that pirates are responsible for generating over 80 per cent of new software sales. A model to maximize the present value of the program to the program house is constructed to determine the optimal prices of initial programs a...

48 CFR 452.216-74 - Ceiling Price.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Ceiling Price. 452.216-74... SOLICITATION PROVISIONS AND CONTRACT CLAUSES Texts of Provisions and Clauses 452.216-74 Ceiling Price. As prescribed in 416.670, insert the following clause: Ceiling Price (FEB 1988) The ceiling price of this...

Using Economic Experiments to Test the Effect of Reliability Pricing and Self-Sizing on the Private Provision of a Public Good Results: The Case of Constructing Water Conveyance Infrastructure to Mitigate Water Quantity and Quality Concerns in the Sacramento-San Joaquin Delta

Science.gov (United States)

Kaplan, J.; Howitt, R. E.; Kroll, S.

2016-12-01

Public financing of public projects is becoming more difficult with growing political and financial pressure to reduce the size and scope of government action. Private provision is possible but is often doomed by under-provision. If however, market-like mechanisms could be incorporated into the solicitation of funds to finance the provision of the good, because, for example, the good is supplied stochastically and is divisible, then we would expect fewer incentives to free ride and greater efficiency in providing the public good. In a controlled computer-based economic experiment, we evaluate two market-like conditions (reliability pricing allocation and self-sizing of the good) that are designed to reduce under-provision. The results suggest that financing an infrastructure project when the delivery is allocated based on reliability pricing rather than historical allocation results in significantly greater price formation efficiency and less free riding whether the project is of a fixed size determined by external policy makers or determined endogenously by the sum of private contributions. When reliability pricing and self-sizing (endogenous) mechanism are used in combination free-riding is reduced the greatest among the tested treatments. Furthermore, and as expected, self-sizing when combined with historical allocations results in the worst level of free-riding. This setting for this treatment creates an incentive to undervalue willingness to pay since very low contributions still return positive earnings as long as enough contributions are raised for a single unit. If everyone perceives everyone else is undervaluing their contribution the incentive grows stronger and we see the greatest degree of free riding among the treatments. Lastly, the results from the analysis suggested that the rebate rule may have encouraged those with willingness to pay values less than the cost of the project to feel confident when contributing more than their willingness to pay and

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

Science.gov (United States)

2010-10-01

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

The determination of parameters for thermal unit pricing and economic interchange

International Nuclear Information System (INIS)

Briggs, D.W.; Pickles, R.; McPhail, E.M.

1988-01-01

When an interchange of energy occurs between adjoining utilities which is not the subject of a predetermined fixed price agreement but is related to the immediate cost of generating and transmitting the power, the purchaser and seller need to know the cost of the power before agreeing to the interchange. A working party from three Maritime utilities was set up to reveiw areas of interchange energy pricing between them and in particular standardize the following aspects: test procedure for a unit heat rate over its load range; maintenance and operating costs; provision for contingency costs; start up costs of units; and a pricing formula considering the above items. The three utilities are Nova Scotia Power Corporation, Maritime Electric, and New Brunswick Power Commission. Details are presented of the three utility's methods of determining heat rate, operating factor, total fuel cost, transmission loss, operations and maintenance costs, gas turbine parameters, pricing formulae, and start up costs. 2 figs., 7 tabs

Market floors strategy and fixed pricing model for co-location under the traditional leaseback framework

DEFF Research Database (Denmark)

Osei-Owusu, Alexander

2016-01-01

Towers make up a substantial proportion of capital investments for telecoms operators and, in emerging markets, most of their operating costs. Mobile operators are opting to share towers, renting them from other tower companies instead of making ongoing and a single financial investments...... on the same towers. The higher the co-location ratio the better for the towers companies (and their financiers), as this drives up revenues from the same base costs. Traditional towers are often designed for a specific number of spaces or tenants’ and finding ways to get these “perishable” spaces filled up...... by infrastructure operators may help drive the needed revenues and investments. The research will also investigate whether the adoption of the fixed pricing strategy is primed on a business sense rather than institutional arrangement or influences. The implication of the pricing regime on expansion of telecom...

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

Science.gov (United States)

2010-10-01

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

48 CFR 1352.216-77 - Ceiling price.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Ceiling price. 1352.216-77... SOLICITATION PROVISIONS AND CONTRACT CLAUSES Text of Provisions and Clauses 1352.216-77 Ceiling price. As prescribed in 48 CFR 1316.601-70 and 1316.602-70, insert the following clause: Ceiling Price (APR 2010) The...

Fixing a carbon price will not be enough

International Nuclear Information System (INIS)

Dron, Dominique

2015-01-01

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

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...

On the Use of Hedonic Price Indices to Understand Ecosystem Service Provision from Urban Green Space in Five Latin American Megacities

Directory of Open Access Journals (Sweden)

Ursula Loret de Mola

2017-12-01

Full Text Available Latin American (LA megacities are facing enormous challenges to provide welfare to millions of people who live in them. High rates of urbanization and limited administrative capacity of LA cities to plan and control urban growth have led to a critical deficit of urban green space, and therefore, to sub-optimal outcomes in terms of urban sustainability. This study seeks to assess the possibility of using real estate prices to provide an estimate of the monetary value of the ecosystem services provided by urban green space across five Latin American megacities: Bogota, Buenos Aires, Lima, Mexico City and Santiago de Chile. Using Google Earth images to quantify urban green space and multiple regression analysis, we evaluated the impact of urban green space, crime rates, business density and population density on real estate prices across the five mentioned megacities. In addition, for a subset of the data (Lima and Buenos Aires we analyzed the effects of landscape ecology variables (green space patch size, connectivity, etc. on real estate prices to provide a first insight into how the ecological attributes of urban green space can determine the level of ecosystem service provision in different urban contexts in Latin America. The results show a strong positive relationship between the presence of urban green space and real estate prices. Green space explains 52% of the variability in real estate prices across the five studied megacities. Population density, business density and crime had only minor impacts on real estate prices. Our analysis of the landscape ecology variables in Lima and Buenos Aires also show that the relationship between green space and price is context-specific, which indicates that further research is needed to better understand when and where ecological attributes of green space affect real estate prices so that managers of urban green space in LA cities can optimize ecological configuration to maximize ecosystem service

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

Science.gov (United States)

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

2014-12-01

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

Competition policy for health care provision in Norway.

Science.gov (United States)

Brekke, Kurt R; Straume, Odd Rune

2017-02-01

Competition policy has played a very limited role for health care provision in Norway. The main reason is that Norway has a National Health Service (NHS) with extensive public provision and a wide set of sector-specific regulations that limit the scope for competition. However, the last two decades, several reforms have deregulated health care provision and opened up for provider competition along some dimensions. For specialised care, the government has introduced patient choice and (partly) activity (DRG) based funding, but also corporatised public hospitals and allowed for more private provision. For primary care, a reform changed the payment scheme to capitation and (a higher share of) fee-for-service, inducing almost all GPs on fixed salary contracts to become self-employed. While these reforms have the potential for generating competition in the Norwegian NHS, the empirical evidence is quite limited and the findings are mixed. We identify a set of possible caveats that may weaken the incentives for provider competition - such as the partial implementation of DRG pricing, the dual purchaser-provider role of regional health authorities, and the extensive consolidation of public hospitals - and argue that there is great scope for competition policy measures that could stimulate provider competition within the Norwegian NHS. Copyright © 2016 Elsevier Ireland Ltd. All rights reserved.

Virtual optical network provisioning with unified service logic processing model for software-defined multidomain optical networks

Science.gov (United States)

Zhao, Yongli; Li, Shikun; Song, Yinan; Sun, Ji; Zhang, Jie

2015-12-01

Hierarchical control architecture is designed for software-defined multidomain optical networks (SD-MDONs), and a unified service logic processing model (USLPM) is first proposed for various applications. USLPM-based virtual optical network (VON) provisioning process is designed, and two VON mapping algorithms are proposed: random node selection and per controller computation (RNS&PCC) and balanced node selection and hierarchical controller computation (BNS&HCC). Then an SD-MDON testbed is built with OpenFlow extension in order to support optical transport equipment. Finally, VON provisioning service is experimentally demonstrated on the testbed along with performance verification.

EXISTENCE THEOREM FOR THE PRICES FIXED POINT PROBLEM OF THE OVERLAPPING GENERATIONS MODEL, VIA METRIC SPACES ENDOWED WITH A GRAPH

Directory of Open Access Journals (Sweden)

Magnolia Tilca

2014-10-01

Full Text Available The aim of this paper is to study the existence of the solution for the overlapping generations model, using fixed point theorems in metric spaces endowed with a graph. The overlapping generations model has been introduced and developed by Maurice Allais (1947, Paul Samuelson (1958, Peter Diamond (1965 and so on. The present paper treats the case presented by Edmond (2008 in (Edmond, 2008 for a continuous time. The theorem of existence of the solution for the prices fixed point problem derived from the overlapping generations model gives an approximation of the solution via the graph theory. The tools employed in this study are based on applications of the Jachymski fixed point theorem on metric spaces endowed with a graph (Jachymski, 2008

Reciprocity, World Prices and Welfare

DEFF Research Database (Denmark)

Raimondos-Møller, Pascalis; Woodland, Alan D.

We examine in detail the circumstances under which reciprocity, as defined in Bagwell and Staiger (1999), leads to fixed world prices. We show that a change of tariffs satisfying reciprocity does not necessarily imply constant world prices in a world of many goods and countries. While it is possi...... of all countries, independently of whether world prices change and independently of the relative numbers of goods and countries.......We examine in detail the circumstances under which reciprocity, as defined in Bagwell and Staiger (1999), leads to fixed world prices. We show that a change of tariffs satisfying reciprocity does not necessarily imply constant world prices in a world of many goods and countries. While...... it is possible to find tariff reforms that are consistent with both reciprocity and constant world prices, these reforms do not follow from the reciprocity condition, but rather from the requirement of unchanged world prices. We propose an alternative reciprocity rule that is guaranteed to raise the welfare...

Why monetary board: Monetary board and endogenic price flexibility

Directory of Open Access Journals (Sweden)

Bašić Tamara

2004-01-01

Full Text Available The paper presents a model which proves that a unilateral exchange rate fixing, i.e. monetary board, as opposed to certain opinions, is an optimal policy since it increases flexibility of nominal prices, which is the ultimate goal of a flexible exchange rate policy. A suitable calibration of the model shows that the higher the initial price flexibility, the lower the difference needed for "utility increase" in getting the producers to switch from fixed to flexible prices. The results obtained in all cases indicate that exchange rate fixing increases price flexibility, which proves that a unilateral exchange rate fixing, i.e. monetary board, could be an optimal monetary policy.

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

Science.gov (United States)

2010-10-01

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

Delegating pricing power to customers: Pay what you want or name your own price?

OpenAIRE

Krämer, Florentin; Schmidt, Klaus M.; Spann, Martin; Stich, Lucas

2015-01-01

Pay What You Want (PWYW) and Name Your Own Price (NYOP) are customer driven pricing mechanisms that give customers (some) pricing power. Both have been used in service industries with high fixed costs to price discriminate without setting a reference price. Their participatory and innovative nature gives rise to promotional benefits that do not accrue to posted-price sellers. We explore the nature and effects of these benefits and compare PWYW and NYOP using controlled lab experiments. We sho...

Gas pricing in Europe. Pt. 1. Wholesale markets

International Nuclear Information System (INIS)

Donath, R.

1996-01-01

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

Towards a Reference Architecture to Provision Tools as a Service for Global Software Development

DEFF Research Database (Denmark)

Chauhan, Aufeef; Babar, Muhammad Ali

2014-01-01

Organizations involve in Global Software Development (GSD) face challenges in terms of having access to appropriate set of tools for performing distributed engineering and development activities, integration between heterogeneous desktop and web-based tools, management of artifacts developed...... distributed environment. In this paper, we argue the need to have a cloud-enabled platform for supporting GSD and propose reference architecture of a cloud based Platform for providing support to provision ecosystem of the Tools as a Service (PTaaS)....

10 CFR 625.3 - Standard sales provisions.

Science.gov (United States)

2010-01-01

... 10 Energy 4 2010-01-01 2010-01-01 false Standard sales provisions. 625.3 Section 625.3 Energy DEPARTMENT OF ENERGY (CONTINUED) SALES REGULATION PRICE COMPETITIVE SALE OF STRATEGIC PETROLEUM RESERVE PETROLEUM § 625.3 Standard sales provisions. (a) Contents. The Standards Sales Provisions shall contain...

Pay-what-you-want pricing schemes

DEFF Research Database (Denmark)

Kahsay, Goytom Abraha; Samahita, Margaret

this threshold, however, PWYW can lead to a lower utility. This may result in a lower purchase rate and higher average price, in line with previously unexplained evidence from field experiments. Moreover, an increase in the threshold value decreases the buyer's utility and may further lower the purchase rate......Pay-What-You-Want (PWYW) pricing schemes are becoming increasingly popular in a wide range of industries. We develop a model incorporating self-image into the buyer's utility function and introduce heterogeneity in consumption utility and image-sensitivity, which generates different purchase...... decisions and optimal prices across individuals. When a good is sold at a fixed price higher than a threshold value, a price that the individual thinks is fair, the adoption of PWYW increases his utility and hence results in a weakly higher purchase rate. When a good is sold at a fixed price lower than...

Carbon pricing in the EU: Evaluation of different EU ETS reform options

International Nuclear Information System (INIS)

Brink, Corjan; Vollebergh, Herman R.J.; Werf, Edwin van der

2016-01-01

This paper studies various options to support allowance prices in the EU Emissions Trading System (ETS), such as adjusting the cap, an auction reserve price, and fixed and variable carbon taxes in addition to the EU ETS. We use a dynamic computable general equilibrium model that explicitly allows for allowance banking and for a detailed cost-effectiveness analysis at the EU Member State level. We find that tightening the cap provides an ad hoc solution to the fundamental issue of the robustness of the effective carbon price, while introducing a price component to the ETS brings structural carbon price support in times of negative demand shocks for emission allowances. These price-based policies still benefit from the intertemporal flexibility through the banking provision in the EU ETS by re-allocating emissions over time with stronger emission reductions in early years and emission increases in later years. A higher emission price has a larger negative impact on the new Member States' economies than on other Member States. Furthermore, introducing a carbon tax in addition to the EU ETS decreases the price of allowances, resulting in welfare gains for net buyers of allowances while net sellers are worse off. - Highlights: • We analyse reform options for European Union Emission Trading System (EU ETS) with a CGE model. • Variable carbon tax and auction reserve price support carbon price at least cost. • Price-based reforms decrease early emissions but increase later emissions through banking. • New Member States' economies are affected more than others by higher CO_2 prices. • Lower allowance prices due to a carbon tax are unfavourable to net sellers of allowances.

48 CFR 52.215-20 - Requirements for Certified Cost or Pricing Data and Data Other Than Certified Cost or Pricing Data.

Science.gov (United States)

2010-10-01

... Cost or Pricing Data and Data Other Than Certified Cost or Pricing Data. 52.215-20 Section 52.215-20... Certified Cost or Pricing Data and Data Other Than Certified Cost or Pricing Data. As prescribed in 15.408(l), insert the following provision: Requirements for Certified Cost or Pricing Data and Data Other Than...

Optimal pricing and lot-sizing for perishable inventory with price and time dependent ramp-type demand

Science.gov (United States)

Panda, S.; Saha, S.; Basu, M.

2013-01-01

Product perishability is an important aspect of inventory control. To minimise the effect of deterioration, retailers in supermarkets, departmental store managers, etc. always want higher inventory depletion rate. In this article, we propose a dynamic pre- and post-deterioration cumulative discount policy to enhance inventory depletion rate resulting low volume of deterioration cost, holding cost and hence higher profit. It is assumed that demand is a price and time dependent ramp-type function and the product starts to deteriorate after certain amount of time. Unlike the conventional inventory models with pricing strategies, which are restricted to a fixed number of price changes and to a fixed cycle length, we allow the number of price changes before as well as after the start of deterioration and the replenishment cycle length to be the decision variables. Before start of deterioration, discounts on unit selling price are provided cumulatively in successive pricing cycles. After the start of deterioration, discounts on reduced unit selling price are also provided in a cumulative way. A mathematical model is developed and the existence of the optimal solution is verified. A numerical example is presented, which indicates that under the cumulative effect of price discounting, dynamic pricing policy outperforms static pricing strategy. Sensitivity analysis of the model is carried out.

Accounting for fuel price risk: Using forward natural gas prices instead of gas price forecasts to compare renewable to natural gas-fired generation

Energy Technology Data Exchange (ETDEWEB)

Bolinger, Mark; Wiser, Ryan; Golove, William

2003-08-13

Against the backdrop of increasingly volatile natural gas prices, renewable energy resources, which by their nature are immune to natural gas fuel price risk, provide a real economic benefit. Unlike many contracts for natural gas-fired generation, renewable generation is typically sold under fixed-price contracts. Assuming that electricity consumers value long-term price stability, a utility or other retail electricity supplier that is looking to expand its resource portfolio (or a policymaker interested in evaluating different resource options) should therefore compare the cost of fixed-price renewable generation to the hedged or guaranteed cost of new natural gas-fired generation, rather than to projected costs based on uncertain gas price forecasts. To do otherwise would be to compare apples to oranges: by their nature, renewable resources carry no natural gas fuel price risk, and if the market values that attribute, then the most appropriate comparison is to the hedged cost of natural gas-fired generation. Nonetheless, utilities and others often compare the costs of renewable to gas-fired generation using as their fuel price input long-term gas price forecasts that are inherently uncertain, rather than long-term natural gas forward prices that can actually be locked in. This practice raises the critical question of how these two price streams compare. If they are similar, then one might conclude that forecast-based modeling and planning exercises are in fact approximating an apples-to-apples comparison, and no further consideration is necessary. If, however, natural gas forward prices systematically differ from price forecasts, then the use of such forecasts in planning and modeling exercises will yield results that are biased in favor of either renewable (if forwards < forecasts) or natural gas-fired generation (if forwards > forecasts). In this report we compare the cost of hedging natural gas price risk through traditional gas-based hedging instruments (e

From a bundled energy-capacity pricing model to an energy-capacity-ancillary services pricing model

International Nuclear Information System (INIS)

Raineri, Ricardo; Arce, Raul; Rios, Sebastian; Salamanca, Carlos

2008-01-01

In this paper, we extend the Chilean power generation pricing mechanism, with capacity and energy payments, to one where ancillary services (AS), as frequency regulation and voltage control, are explicitly recognized. Adequacy and security attributes of the electric system and the public good characteristics of AS are set within the payment structure to distribute the financing of AS among those who benefit from their provision. The contribution to finance the provision of AS is determined assessing the value assigned to the system security by each agent, following what's an efficient pricing mechanism in the presence of public goods

Helping consumers manage their exposure to volatile natural gas prices

International Nuclear Information System (INIS)

Campion, A.

2004-01-01

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

Software Technology for Adaptable, Reliable Systems (STARS)

Science.gov (United States)

1994-03-25

Tmeline(3), SECOMO(3), SEER(3), GSFC Software Engineering Lab Model(l), SLIM(4), SEER-SEM(l), SPQR (2), PRICE-S(2), internally-developed models(3), APMSS(1...3 " Timeline - 3 " SASET (Software Architecture Sizing Estimating Tool) - 2 " MicroMan 11- 2 * LCM (Logistics Cost Model) - 2 * SPQR - 2 * PRICE-S - 2

Customer perspectives on district heating price models

Directory of Open Access Journals (Sweden)

Kerstin Sernhed

2017-01-01

Full Text Available In Sweden there has been a move towards more cost reflective price models for district heating in order to reduce economic risks that comes with variable heat demand and high shares of fixed assets. The keywords in the new price models are higher shares of fixed cost, seasonal energy prices and charging for capacity. Also components that are meant to serve as incentives to affect behaviour are introduced, for example peak load components and flow components. In this study customer responses to these more complex price models have been investigated through focus group interviews and through interviews with companies that have changed their price models. The results show that several important customer requirements are suffering with the new price models. The most important ones are when energy savings do not provide financial savings, when costs are hard to predict and are perceived to be out of control.

Oil price induced gas acquisition contracts. Immune to price changes; Oelpreisindizierte Gasbezugsvertraege. Immun gegen Preisaenderungen

Energy Technology Data Exchange (ETDEWEB)

Verhoeven, Meike [Soptim AG, Aachen (Germany)

2012-10-15

The gas price continues to be linked to the oil price. Gas utilities that must buy gas in these conditions and sell it at a fixed price incur considerable financial risk. Especially with long-term buying contracts, and especially for gas from Russia, producers insist on linking to the oil price. Gas utilities, on the other hand, had to stop to sell gas at a price linked to the oil price two years ago. Utilities attempt to protect themselves, e.g. via oil swaps. Professional portfolio management is necessary to cope with the risks and the highly complex processes involved.

Is the Price Right? An Analysis of ETP's Fixed Fees.

Science.gov (United States)

Moore, Richard W.; Blake, Daniel R.; Honig, Michele L.; Cohen, Michael D.

The Employment Training Panel (ETP) contracted with California State University-Northridge to review the fixed fee structure ETP used to pay contractors for training provided under ETP. Three research questions were investigated: what other institutions use the fixed fee and what they pay for; whether ETP's fixed-fee rates were reasonable in…

Juxtaposition of micro and macro dynamics of dividend policy on stock price volatility in financial sector of Pakistan : (comparative analysis through common, fixed, random and GMM effect)

OpenAIRE

Hamid, Kashif; Khurram, Muhammad Usman; Ghaffar, Wasim

2017-01-01

The purpose of this study is to analyze the dividend policy dynamics in context to firm specific and macroeconomic variables with stock price volatility in the financial sector of Pakistan. Panel data is used for the period 2006-2014 to identify the common, fixed, random and GMM effect. It is concluded that dividend payout ratio, market value, interest volatility and inflation volatility have positive significant correlation with price volatility. Common effect model shows that dividend payou...

Project management: a case of fixed price IS/IT projects. Analysis of projects by project scopes

Directory of Open Access Journals (Sweden)

Miroslav Kral

2012-10-01

Full Text Available The paper provides an overview of major issues of IS / IT projects. Attention will be focused on projects that are implemented under a contract for a specified amount of work and fixed price. The main purpose of the paper is to analyse the project parameters in terms of the types of projects, and to confirm, or refuse, a hypothesis related to this. There is some evidence from the portfolio of projects that have been implemented by the international companies providing IT services. Regarding the localisation, CEE region was selected for our research. The outputs of the paper should be a contribution to managing IS/IT projects in IT service delivery organizations and for the support of innovative thinking about project management generally.

48 CFR 252.236-7000 - Modification proposals-price breakdown.

Science.gov (United States)

2010-10-01

...-price breakdown. 252.236-7000 Section 252.236-7000 Federal Acquisition Regulations System DEFENSE... CLAUSES Text of Provisions And Clauses 252.236-7000 Modification proposals—price breakdown. As prescribed in 236.570(a), use the following clause: Modification Proposals—Price Breakdown (DEC 1991) (a) The...

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

International Nuclear Information System (INIS)

Bjoerndal, Mette; Joernsten, Kurt

2004-06-01

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

Influence of gender roles and rising food prices on poor, pregnant women's eating and food provisioning practices in Dhaka, Bangladesh.

Science.gov (United States)

Levay, Adrienne V; Mumtaz, Zubia; Faiz Rashid, Sabina; Willows, Noreen

2013-09-26

Maternal malnutrition in Bangladesh is a persistent health issue and is the product of a number of complex factors, including adherence to food 'taboos' and a patriarchal gender order that limits women's mobility and decision-making. The recent global food price crisis is also negatively impacting poor pregnant women's access to food. It is believed that those who are most acutely affected by rising food prices are the urban poor. While there is an abundance of useful quantitative research centered on maternal nutrition and food insecurity measurements in Bangladesh, missing is an understanding of how food insecurity is experienced by people who are most vulnerable, the urban ultra-poor. In particular, little is known of the lived experience of food insecurity among pregnant women in this context. This research investigated these lived experiences by exploring food provisioning strategies of urban, ultra-poor, pregnant women. This knowledge is important as discussions surrounding the creation of new development goals are currently underway. Using a focused-ethnographic approach, household food provisioning experiences were explored. Data from participant observation, a focus group discussion and semi-structured interviews were collected in an urban slum in Dhaka, Bangladesh. Interviews were undertaken with 28 participants including 12 pregnant women and new mothers, two husbands, nine non-pregnant women, and five health care workers. The key findings are: 1) women were aware of the importance of good nutrition and demonstrated accurate, biomedically-based knowledge of healthy eating practices during pregnancy; 2) the normative gender rules that have traditionally constrained women's access to nutritional resources are relaxing in the urban setting; however 3) women are challenged in accessing adequate quality and quantities of food due to the increase in food prices at the market. Rising food prices and resultant food insecurity due to insufficient incomes are

Mining Repair Actions for Guiding Automated Program Fixing

OpenAIRE

Martinez , Matias; Monperrus , Martin

2012-01-01

Automated program fixing consists of generating source code in order to fix bugs in an automated manner. Our intuition is that automated program fixing can imitate human-based program fixing. Hence, we present a method to mine repair actions from software repositories. A repair action is a small semantic modification on code such as adding a method call. We then decorate repair actions with a probability distribution also learnt from software repositories. Our probabilistic repair models enab...

76 FR 53533 - Notification of New Pricing Methodology

Science.gov (United States)

2011-08-26

... products. The new pricing methodology is based primarily on the London Fix weekly average (average of the... DEPARTMENT OF THE TREASURY United States Mint Notification of New Pricing Methodology ACTION: Notice. SUMMARY: The United States Mint is implementing a new pricing methodology for its commemorative...

27 CFR 53.95 - Constructive sale price; basic rules.

Science.gov (United States)

2010-04-01

... to influence the sale price, or (2) The sale is made pursuant to special arrangements between a... 27 Alcohol, Tobacco Products and Firearms 2 2010-04-01 2010-04-01 false Constructive sale price... AMMUNITION Special Provisions Applicable to Manufacturers Taxes § 53.95 Constructive sale price; basic rules...

The distribution of harm in price-fixing cases

NARCIS (Netherlands)

Boone, J.; Müller, W.

2012-01-01

We consider a vertically related industry and analyze how the total harm due to a price increase upstream is distributed over downstream firms and final consumers. For this purpose, we develop a general model without making specific assumptions regarding demand, costs, or the mode of competition. We

The Distribution of Harm in Price-Fixing Cases

NARCIS (Netherlands)

Boone, J.; Müller, W.

2008-01-01

Abstract: We consider a vertically related industry and analyze how the total harm due to a price increase upstream is distributed over downstream firms and final consumers. For this purpose, we develop a general model without making specific assumptions regarding demand, costs, or the mode of

The distribution of harm in price-fixing cases

NARCIS (Netherlands)

Boone, J.; Müller, W.

2008-01-01

We consider a vertically related industry and analyze how the total harm due to a price increase upstream is distributed over downstream firms and final consumers. For this purpose, we develop a general model without making specific assumptions regarding demand, costs, or the mode of competition. We

Dynamic Evolution Analysis of Stock Price Fluctuation and Its Control

Directory of Open Access Journals (Sweden)

Yuhua Xu

2018-01-01

Full Text Available This paper studies a simple dynamical system of stock price fluctuation time series based on the rule of stock market. When the stock price fluctuation system is disturbed by external excitations, the system exhibits obviously chaotic phenomena, and its basic dynamic properties are analyzed. At the same time, a new fixed-time convergence theorem is proposed for achieving fixed-time control of stock price fluctuation system. Finally, the effectiveness of the method is verified by numerical simulation.

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.

10 CFR 1009.6 - Dissemination of prices and charges.

Science.gov (United States)

2010-01-01

... 10 Energy 4 2010-01-01 2010-01-01 false Dissemination of prices and charges. 1009.6 Section 1009.6 Energy DEPARTMENT OF ENERGY (GENERAL PROVISIONS) GENERAL POLICY FOR PRICING AND CHARGING FOR MATERIALS... Accounting and Pricing Branch, Mail Station 4A-139, 1000 Independence Avenue, SW., Washington, DC 20585. ...

Price floors for emissions trading

International Nuclear Information System (INIS)

Wood, Peter John; Jotzo, Frank

2011-01-01

Price floors in greenhouse gas emissions trading schemes can guarantee minimum abatement efforts if prices are lower than expected, and they can help manage cost uncertainty, possibly as complements to price ceilings. Provisions for price floors are found in several recent legislative proposals for emissions trading. Implementation however has potential pitfalls. Possible mechanisms are government commitments to buy back permits, a reserve price at auction, or an extra fee or tax on acquittal of emissions permits. Our analysis of these alternatives shows that the fee approach has budgetary advantages and is more compatible with international permit trading than the alternatives. It can also be used to implement more general hybrid approaches to emissions pricing. - Research highlights: → Price floors for emissions trading schemes guarantee a minimum carbon price. → Price floors mean that emissions can be less than specified by the ETS cap. → We examine how price floors can relate to different policy objectives. → We compare different mechanisms for implementing a price floor. → We find that a mechanism where there is an extra tax or fee has advantages.

Non-equilibrium price theories

Science.gov (United States)

Helbing, Dirk; Kern, Daniel

2000-11-01

We propose two theories for the formation of stock prices under the condition that the number of available stocks is fixed. Both theories consider the balance equations for cash and several kinds of stocks. They also take into account interest rates, dividends, and transaction costs. The proposed theories have the advantage that they do not require iterative procedures to determine the price, which would be inefficient for simulations with many agents.

A study on strategic provisioning of cloud computing services.

Science.gov (United States)

Whaiduzzaman, Md; Haque, Mohammad Nazmul; Rejaul Karim Chowdhury, Md; Gani, Abdullah

2014-01-01

Cloud computing is currently emerging as an ever-changing, growing paradigm that models "everything-as-a-service." Virtualised physical resources, infrastructure, and applications are supplied by service provisioning in the cloud. The evolution in the adoption of cloud computing is driven by clear and distinct promising features for both cloud users and cloud providers. However, the increasing number of cloud providers and the variety of service offerings have made it difficult for the customers to choose the best services. By employing successful service provisioning, the essential services required by customers, such as agility and availability, pricing, security and trust, and user metrics can be guaranteed by service provisioning. Hence, continuous service provisioning that satisfies the user requirements is a mandatory feature for the cloud user and vitally important in cloud computing service offerings. Therefore, we aim to review the state-of-the-art service provisioning objectives, essential services, topologies, user requirements, necessary metrics, and pricing mechanisms. We synthesize and summarize different provision techniques, approaches, and models through a comprehensive literature review. A thematic taxonomy of cloud service provisioning is presented after the systematic review. Finally, future research directions and open research issues are identified.

A Study on Strategic Provisioning of Cloud Computing Services

Directory of Open Access Journals (Sweden)

Md Whaiduzzaman

2014-01-01

Full Text Available Cloud computing is currently emerging as an ever-changing, growing paradigm that models “everything-as-a-service.” Virtualised physical resources, infrastructure, and applications are supplied by service provisioning in the cloud. The evolution in the adoption of cloud computing is driven by clear and distinct promising features for both cloud users and cloud providers. However, the increasing number of cloud providers and the variety of service offerings have made it difficult for the customers to choose the best services. By employing successful service provisioning, the essential services required by customers, such as agility and availability, pricing, security and trust, and user metrics can be guaranteed by service provisioning. Hence, continuous service provisioning that satisfies the user requirements is a mandatory feature for the cloud user and vitally important in cloud computing service offerings. Therefore, we aim to review the state-of-the-art service provisioning objectives, essential services, topologies, user requirements, necessary metrics, and pricing mechanisms. We synthesize and summarize different provision techniques, approaches, and models through a comprehensive literature review. A thematic taxonomy of cloud service provisioning is presented after the systematic review. Finally, future research directions and open research issues are identified.

TRICARE revision to CHAMPUS DRG-based payment system, pricing of hospital claims. Final rule.

Science.gov (United States)

2014-05-21

This Final rule changes TRICARE's current regulatory provision for inpatient hospital claims priced under the DRG-based payment system. Claims are currently priced by using the rates and weights that are in effect on a beneficiary's date of admission. This Final rule changes that provision to price such claims by using the rates and weights that are in effect on a beneficiary's date of discharge.

48 CFR 1352.215-76 - Cost or pricing data.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Cost or pricing data. 1352.215-76 Section 1352.215-76 Federal Acquisition Regulations System DEPARTMENT OF COMMERCE CLAUSES AND... pricing data. As prescribed in 48 CFR 1315.204-570(b)(4), insert the following provision: Cost or Pricing...

Transfer pricing principles in VAT Law

DEFF Research Database (Denmark)

Jensen, Dennis Ramsdahl

2011-01-01

The main part of the article is devoted to a critical analysis of the optional transfer pricing provisions in the EC VAT Directive in the light of the principle of fiscal neutrality. As an integrated part of this analysis, the VAT transfer pricing regime is considered in the light of the well......-known principles for transfer pricing in the area of income tax law, as set out in Art. 9 of the OECD Model Tax Convention. The last part of the article contains a brief discussion of to which extent it is desirable to harmonize the two tax systems´ transfer pricing rules....

Influence of gender roles and rising food prices on poor, pregnant women’s eating and food provisioning practices in Dhaka, Bangladesh

Science.gov (United States)

2013-01-01

Background Maternal malnutrition in Bangladesh is a persistent health issue and is the product of a number of complex factors, including adherence to food 'taboos’ and a patriarchal gender order that limits women’s mobility and decision-making. The recent global food price crisis is also negatively impacting poor pregnant women’s access to food. It is believed that those who are most acutely affected by rising food prices are the urban poor. While there is an abundance of useful quantitative research centered on maternal nutrition and food insecurity measurements in Bangladesh, missing is an understanding of how food insecurity is experienced by people who are most vulnerable, the urban ultra-poor. In particular, little is known of the lived experience of food insecurity among pregnant women in this context. This research investigated these lived experiences by exploring food provisioning strategies of urban, ultra-poor, pregnant women. This knowledge is important as discussions surrounding the creation of new development goals are currently underway. Methods Using a focused-ethnographic approach, household food provisioning experiences were explored. Data from participant observation, a focus group discussion and semi-structured interviews were collected in an urban slum in Dhaka, Bangladesh. Interviews were undertaken with 28 participants including 12 pregnant women and new mothers, two husbands, nine non-pregnant women, and five health care workers. Results The key findings are: 1) women were aware of the importance of good nutrition and demonstrated accurate, biomedically-based knowledge of healthy eating practices during pregnancy; 2) the normative gender rules that have traditionally constrained women’s access to nutritional resources are relaxing in the urban setting; however 3) women are challenged in accessing adequate quality and quantities of food due to the increase in food prices at the market. Conclusions Rising food prices and resultant food

Fixed Wireless may be a temporary answer

Indian Academy of Sciences (India)

Possible to enhance throughput by 4 with respect to Mobile Wireless. And get 8 to 10 bps / Hz / cell; Examples: BB corDECT: today provides 256/512kbps to each connection in fixed environment. Ideal for small town / rural Broadband. Fixed 802.16d/e does the same in but at much higher price-points.

Coordinating Channels Under Price and Nonprice Competition

OpenAIRE

Ganesh Iyer

1998-01-01

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

Energy price risk management

International Nuclear Information System (INIS)

Evans, J.W.G.

1998-01-01

While long term, fixed price contracts for fuel procurement and export of excess power may lock in the economics of a CHP plant, these do not necessarily give the best pricing opportunities that may exist during the life of those contracts. A more prudent approach may be to vary the length of the contracts and markets are now developing in gas and electricity to assist in the management of such a portfolio. (Author)

7 CFR 1437.11 - Average market price and payment factors.

Science.gov (United States)

2010-01-01

... 7 Agriculture 10 2010-01-01 2010-01-01 false Average market price and payment factors. 1437.11... ASSISTANCE PROGRAM General Provisions § 1437.11 Average market price and payment factors. (a) An average... average market price by the applicable payment factor (i.e., harvested, unharvested, or prevented planting...

Water transfer and major environmental provisions of the Central Valley Project Improvement Act: A preliminary economic evaluation

Science.gov (United States)

Loomis, John B.

1994-06-01

Increasing block water pricing, water transfer, and wildlife refuge water supply provisions of the Central Valley Project (CVP) Improvement Act are analyzed in terms of likely farmer response and economic efficiency of these provisions. Based on a simplified partial equilibrium analysis, we estimate small, but significant water conservation savings due to pricing reform, the potential for substantial water transfers to non-CVP customers in severe drought years when the water price exceeds 110 per acre foot (1 acre foot equals 1.234 × 103 m3) and positive net benefits for implementation of the wildlife refuge water supply provisions. The high threshold water price is partly a result of requiring farmers to pay full cost on transferred water plus a surcharge of 25 per acre foot if the water is transferred to a non-CVP user. The act also sets an important precedent for water pricing reform, water transfer provisions, and environmental surcharges on water users that may find their way to other Bureau of Reclamation projects.

30 CFR 220.015 - Pricing of materiel purchases, transfers, and dispositions.

Science.gov (United States)

2010-07-01

... 30 Mineral Resources 2 2010-07-01 2010-07-01 false Pricing of materiel purchases, transfers, and... CONTINENTAL SHELF OIL AND GAS LEASES § 220.015 Pricing of materiel purchases, transfers, and dispositions. (a... shall be priced under the provisions for tubular goods pricing in paragraph (a)(2)(i)(A) of this section...

SaaS architecture and pricing models

OpenAIRE

Laatikainen, Gabriella; Ojala, Arto

2014-01-01

In the new era of computing, SaaS software with different architectural characteristics might be priced in different ways. Even though both pricing and architectural characteristics are responsible for the success of the offering; the relationship between architectural and pricing characteristics has not been studied before. The present study fills this gap by employing a multi-case research. The findings accentuate that flexible and well-designed architecture enables different pricing models...

Impacts of Retailers’ Pricing Strategies for Produce Commodities on Farmer Welfare

OpenAIRE

Li, Chenguang; Sexton, Richard J.

2009-01-01

The typical model of retail pricing for produce products assumes retailers set price equal to the farm price plus a certain markup. However, observations from scanner data indicate a large degree of price dispersion in the grocery retailing market. In addition to markup pricing behavior, we document three alternative leading pricing patterns: fixed (constant) pricing, periodic sale, and high-low pricing. Retail price variations under these alternative pricing regimes in general have little co...

Pricing, renegotiation and gross inequities

Energy Technology Data Exchange (ETDEWEB)

Kirkham, J.S. (Van Cott, Bagley, Cornwall McCarthy, Salt Lake City, UT (USA))

1990-01-01

Reviews pricing, renegotiation and gross inequity provisions of coal supply agreements in order to provide practical assistance to an attorney called upon to draft in written form the intent of buyer and seller. 26 refs.

Pay-what-you-want pricing schemes

DEFF Research Database (Denmark)

Kahsay, Goytom Abraha; Samahita, Margaret

2015-01-01

Pay-What-You-Want (PWYW) pricing schemes are becoming increasingly popular. We develop a model incorporating self-image into the buyer’s utility function and introduce heterogeneity in consumption utility and image-sensitivity, generating different purchase decisions and optimal prices across...... individuals. When a good’s fixed price is lower than a threshold fair value, PWYW can lead to a lower utility. This may result in a lower purchase rate and higher average price, accounting for previously unexplained field experimental evidence. An increase in the threshold value decreases the buyer’s utility...... and may further lower the purchase rate, resulting in a further increase in purchase price....

High prices on electric power now again?

International Nuclear Information System (INIS)

Doorman, Gerard

2003-01-01

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

Nonlinear Price Schedules and Tied Products.

OpenAIRE

Ormiston, Michael B; Phillips, Owen R

1988-01-01

Illegal tying often occurs when a monopolist jointly sells a product with a complementary requirement, also sold competitively. Along with selling the complement at its competi tive price, this paper shows that profit can increase when a monopoli st lets consumers bundle any amount of the requirement with the basic product at a fixed price. Examples illustrate demand conditions that enhance the profitability of this nonlinear price strategy and show that profits can approximate those earned f...

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...

A Comparison of Software Schedule Estimators

Science.gov (United States)

1990-09-01

SLIM ...................................... 33 SPQR /20 ................................... 35 System -4 .................................... 37 Previous...24 3. PRICE-S Outputs ..................................... 26 4. COCOMO Factors by Category ........................... 28 5. SPQR /20 Activities...actual schedules experienced on the projects. The models analyzed were REVIC, PRICE-S, System-4, SPQR /20, and SEER. ix A COMPARISON OF SOFTWARE

Renewable Energy Price-Stability Benefits in Utility Green Power Programs

Energy Technology Data Exchange (ETDEWEB)

Bird, L. A.; Cory, K. S.; Swezey, B. G.

2008-08-01

This paper examines utility experiences when offering the fixed-price benefits of renewable energy in green pricing programs, including the methods utilized and the impact on program participation. It focuses primarily on utility green pricing programs in states that have not undergone electric industry restructuring.

Semi-analytical MBS Pricing

DEFF Research Database (Denmark)

Rom-Poulsen, Niels

2007-01-01

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

Frequent price changes under menu costs

DEFF Research Database (Denmark)

Hansen, Per Svejstrup

1999-01-01

, the price may be changed more frequent in the short run, and in the long run it definitely will. Hence, observing frequent price changes is not necessarily inconsistent with a firm operating under menu costs. This paper relies on an article by Dixit (1991), (Review of Economic studies, 58, 141......This paper investigates the effect of uncertainty on a single firm's pricing behaviour in a dynamic menu cost model that results in (S,s)-rules where the price is fixed inside a band. It will be demonstrated that even though the band of inaction widens in response to increased uncertainty...

Application of Markov Model in Crude Oil Price Forecasting

Directory of Open Access Journals (Sweden)

Nuhu Isah

2017-08-01

Full Text Available Crude oil is an important energy commodity to mankind. Several causes have made crude oil prices to be volatile. The fluctuation of crude oil prices has affected many related sectors and stock market indices. Hence, forecasting the crude oil prices is essential to avoid the future prices of the non-renewable natural resources to rise. In this study, daily crude oil prices data was obtained from WTI dated 2 January to 29 May 2015. We used Markov Model (MM approach in forecasting the crude oil prices. In this study, the analyses were done using EViews and Maple software where the potential of this software in forecasting daily crude oil prices time series data was explored. Based on the study, we concluded that MM model is able to produce accurate forecast based on a description of history patterns in crude oil prices.

LAND PRICE MAPPING OF JABODETABEK, INDONESIA

Directory of Open Access Journals (Sweden)

Adisti Madella Elmanisa

2017-03-01

Full Text Available Land provision is one of the biggest challenges for development in urban area. Most of the available urban land will be the object of speculation to be resold at a higher price when the time is right. In Jabodetabek, where the pace of urban development is faster than other parts of Indonesia, the prices of land show an abnormal increase; they seem to rise too fast. This paper discusses the increasing land prices in Jabodetabek area and argues that the increasing land price has encourages the private developer to bank the land in the area. Based on land price survey in Jabodetabek, urban activity is moving to south Jakarta. The highest land prices were found at East Kuningan, Setiabudi, and South Jakarta. By constrast, the lowest prices were observed in Sumur Batu and Cimuning (Bantar Gebang, Bekasi.It can be concluded that the land price increase also triggered land banking practice in Jabodetabek reaching in total approximately 60% of total area of Jakarta.

Analysis of the project parameters of the fixed price projects in the IT services delivery organization

Directory of Open Access Journals (Sweden)

Miroslav Kral

2012-04-01

Full Text Available The success rate of IS/IT projects is low. Thus, in response, a large variety of methods and approaches to managing IS/IT projects has been developed over the years. The purpose of this paper is to analyse the relationships between the project parameters of fixed-price projects that take place within an IT service delivery organization. There is some evidence that simply using traditional project parameters (such as project duration, costs, reserves, and so on isn't enough to increase the success of projects; rather, new approaches and methods, including our applied systems approach, should also be considered. This paper aims to highlight issues from the perspective of an IT services delivery organization from the CEE region. The output of the paper should be a contribution to the project management of IS/IT projects and to systems research, as well.

Software design practice using two SCADA software packages

DEFF Research Database (Denmark)

Basse, K.P.; Christensen, Georg Kronborg; Frederiksen, P. K.

1996-01-01

Typical software development for manufacturing control is done either by specialists with consideral real-time programming experience or done by the adaptation of standard software packages for manufacturing control. After investigation and test of two commercial software packages: "InTouch" and ......Touch" and "Fix", it is argued, that a more efficient software solution can be achieved by utilising an integrated specification for SCADA and PLC-programming. Experiences gained from process control is planned investigated for descrete parts manufacturing....

48 CFR 52.215-12 - Subcontractor Certified Cost or Pricing Data.

Science.gov (United States)

2010-10-01

... Cost or Pricing Data. 52.215-12 Section 52.215-12 Federal Acquisition Regulations System FEDERAL... Provisions and Clauses 52.215-12 Subcontractor Certified Cost or Pricing Data. As prescribed in 15.408(d), insert the following clause: Subcontractor Certified Cost or Pricing Data (OCT 2010) (a) Before awarding...

Physical layer impairments tolerance based lightpath provision in software defined optical network

Institute of Scientific and Technical Information of China (English)

Zhao Xianlong; Xu Xianze; Bai Huifeng

2017-01-01

As all-optical networks grow with ever increasing ultra-high speed, the communication quality suffers seriously from physical layer impairments ( PLIs) .The same problem still exists in software defined optical network ( SDON) controlled by OpenFlow.Aimed to solve this problem, a PLIs tol-erance based lightpath provision scheme is proposed for OpenFlow controlled optical networks.This proposed approach not only takes the OSNR model to represent those linear PLIs factors, but also in-troduces those nonlinear factors into the OSNR model.Thus, the proposed scheme is able to cover most PLIs factors of each optical link and conduct optical lightpath provison with better communica-tion quality.Moreover, PLIs tolerance model is also set up and considered in this work with some necessary extension to OpenFlow protocols to achieve better compatibility between physical layer im-pairments factors and various services connections.Simulation results show that the proposed scheme is able to get better performance in terms of packet loss rate and connection setup time.

IMPLEMENTING FUZZY LOGIC IN DETERMINING SELLING PRICE

Directory of Open Access Journals (Sweden)

Danny Prabowo Soetanto

2000-01-01

Full Text Available The determination of the price should meet certain criteria, both from the society and the company itself. The combination of various criteria will result in another problem. Fuzzy Logic covers all influencing factors and displays the membership function graphic. Furthermore, by implementing fuzzy rules and fuzzy operator, the right price can be determined which covers all the factors above. The determination of the rules is based on the raw material cost, direct labor cost, distribution cost and the customers' opinion regarding the appropriate price. Then, the model is designed with the help of Matlab software. The result is finally obtained in the form of a model performed by Matlab software. The model displays the output concerning the selling price of the product for each change in the dominant factors.

How do minimum cigarette price laws affect cigarette prices at the retail level?

Science.gov (United States)

Feighery, E C; Ribisl, K M; Schleicher, N C; Zellers, L; Wellington, N

2005-04-01

Half of US states have minimum cigarette price laws that were originally passed to protect small independent retailers from unfair price competition with larger retailers. These laws prohibit cigarettes from being sold below a minimum price that is set by a formula. Many of these laws allow cigarette company promotional incentives offered to retailers, such as buydowns and master-type programmes, to be calculated into the formula. Allowing this provision has the potential to lower the allowable minimum price. This study assesses whether stores in states with minimum price laws have higher cigarette prices and lower rates of retailer participation in cigarette company promotional incentive programmes. Retail cigarette prices and retailer participation in cigarette company incentive programmes in 2001 were compared in eight states with minimum price laws and seven states without them. New York State had the most stringent minimum price law at the time of the study because it excluded promotional incentive programmes in its price setting formula; cigarette prices in New York were compared to all other states included in the study. Cigarette prices were not significantly different in our sample of US states with and without cigarette minimum price laws. Cigarette prices were significantly higher in New York stores than in the 14 other states combined. Most existing minimum cigarette price laws appear to have little impact on the retail price of cigarettes. This may be because they allow the use of promotional programmes, which are used by manufacturers to reduce cigarette prices. New York's strategy to disallow these types of incentive programmes may result in higher minimum cigarette prices, and should also be explored as a potential policy strategy to control cigarette company marketing practices in stores. Strict cigarette minimum price laws may have the potential to reduce cigarette consumption by decreasing demand through increased cigarette prices and reduced

Sensitivity of price elasticity of demand to aggregation, unobserved heterogeneity, price trends, and price endogeneity: Evidence from U.S. Data

International Nuclear Information System (INIS)

Miller, Mark; Alberini, Anna

2016-01-01

Price elasticity estimates of residential electricity demand vary widely across the energy economics and policy literature. In this paper, we seek to explain these findings using three nationwide datasets from the U.S. – the American Housing Survey, Forms EIA-861, and the Residential Energy Consumption Survey. We examine the role of the sample period, level of aggregation, use of panel data, use of instrumental variables, and inclusion of housing characteristics and capital stock. Our findings suggest that price elasticities have remained relatively constant over time. Upon splitting our panel datasets into annual cross sections, we do observe a negative relationship between price elasticities and the average price. Whether prices are rising or falling appears to have little effect on our estimates. We also find that aggregating our data can result in both higher and lower price elasticity estimates, depending on the dataset used, and that controlling for unit-level fixed effects with panel data generally results in more inelastic demand functions. Addressing the endogeneity of price and/or measurement error in price with instrumental variables has a small but noticeable effect on the price elasticities. Finally, controlling for housing characteristics and capital stock produces a lower price elasticity. - Highlights: • The price elasticity of residential electricity demand varies widely across studies. • We use three large datasets from the US to examine reasons for such wide variation. • Some assessed effects include aggregation, unobserved heterogeneity, and price trends. • Correcting for such issues can change the estimated price elasticity by 50–100%.

48 CFR 5252.215-9000 - Submission of cost or pricing data.

Science.gov (United States)

2010-10-01

... pricing data. 5252.215-9000 Section 5252.215-9000 Federal Acquisition Regulations System DEPARTMENT OF THE... Clauses 5252.215-9000 Submission of cost or pricing data. As prescribed at 5215.407, insert the following provision: Submission of Cost or Pricing Data (NOV 1987) (a) It is expected that this contract will be...

Option price and market instability

Science.gov (United States)

Baaquie, Belal E.; Yu, Miao

2017-04-01

An option pricing formula, for which the price of an option depends on both the value of the underlying security as well as the velocity of the security, has been proposed in Baaquie and Yang (2014). The FX (foreign exchange) options price was empirically studied in Baaquie et al., (2014), and it was found that the model in general provides an excellent fit for all strike prices with a fixed model parameters-unlike the Black-Scholes option price Hull and White (1987) that requires the empirically determined implied volatility surface to fit the option data. The option price proposed in Baaquie and Cao Yang (2014) did not fit the data during the crisis of 2007-2008. We make a hypothesis that the failure of the option price to fit data is an indication of the market's large deviation from its near equilibrium behavior due to the market's instability. Furthermore, our indicator of market's instability is shown to be more accurate than the option's observed volatility. The market prices of the FX option for various currencies are studied in the light of our hypothesis.

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

7 CFR 457.140 - Dry pea crop insurance provisions.

Science.gov (United States)

2010-01-01

... of the Basic Provisions that limit the amount of a replant payment to the actual cost of replanting... present that are identified by the Food and Drug Administration or other public health organizations of... feasible. We may obtain prices from any buyer of our choice. If we obtain prices from one or more buyers...

Pricing Policy and Strategies for Consumer High-Tech Products

Directory of Open Access Journals (Sweden)

Dovleac, L.

2014-06-01

Full Text Available This paper highlights the complex process of price setting for consumer high-tech products. These prices are highly influenced by some external factors from the economic and social environment. The main objective of this paper is to establish the most effective pricing policies and strategies used by high-tech companies of various sizes. Decisions about price fixing for consumer high-technology products are largely influenced by consumer behaviour, too.

Cross hedging and forward-contract pricing of electricity

International Nuclear Information System (INIS)

Woo, C.-K.; Hoang, K.; Horowitz, I.

2001-01-01

We consider the problem of an electric-power marketer offering a fixed-price forward contract to provide electricity that it purchases from a potentially volatile and unpredictable fledgling spot energy market. One option for the risk-averse marketer who wants to hedge against the spot-price volatility is to engage in cross hedging to reduce the contract's profit variance, and to determine the forward-contract price as a risk-adjusted price - the sum of a baseline price and a risk premium. We show how the marketer can estimate the spot-price relationship between two wholesale energy markets for the purpose of cross hedging, as well as the optimal hedge and the forward contract's baseline price and risk premium

48 CFR 916.306 - Cost-plus-fixed-fee contracts.

Science.gov (United States)

2010-10-01

... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Cost-plus-fixed-fee... METHODS AND CONTRACT TYPES TYPES OF CONTRACTS Cost-Reimbursement Contracts 916.306 Cost-plus-fixed-fee... application of the statutory price or fee limitations. [49 FR 11955, Mar. 28, 1984, as amended at 59 FR 9105...

[The French medecine pricing committee].

Science.gov (United States)

Giorgi, D

2017-09-01

The French medicine pricing committee (CEPS) has to reconcile several major constraints, including optimal patient access to medicines and a good control of expenditures on reimbursable medicines. From 2013 to 2015, drug price decreases and discounts obtained by CEPS contributed more than € 5 billion to the balance of the health insurance accounts. As for price setting, there is a significant drop in the prices of medicines in France once they are registered for reimbursement. France is affected by a limited, but costly, flow of innovative medicines, whose prices are higher than those of previous generations, a reflection of an international gradient to which France is obviously subject, despite prices that remain at the low end of the range in Western Europe. The provision of innovative medicines for all patients who need them has been ensured in France over the last fifteen years at a controlled cost. But with the arrival of new expensive products, a resolute policy of control of expenditures must take over from the fall in prices, and original financing channels will have to be explored. Copyright © 2017 Académie Nationale de Pharmacie. Published by Elsevier Masson SAS. All rights reserved.

Competition and quality in a physiotherapy market with fixed prices.

Science.gov (United States)

Pekola, Piia; Linnosmaa, Ismo; Mikkola, Hennamari

2017-01-01

Our study focuses on competition and quality in physiotherapy organized and regulated by the Social Insurance Institution of Finland (Kela). We first derive a hypothesis with a theoretical model and then perform empirical analyses of the data. Within the physiotherapy market, prices are regulated by Kela, and after registration eligible firms are accepted to join a pool of firms from which patients choose service providers based on their individual preferences. By using 2SLS estimation techniques, we analyzed the relationship among quality, competition and regulated price. According to the results, competition has a statistically significant (yet weak) negative effect (p = 0.019) on quality. The outcome for quality is likely caused by imperfect information. It seems that Kela has provided too little information for patients about the quality of the service.

E-cigarette price sensitivity among middle- and high-school students: evidence from monitoring the future.

Science.gov (United States)

Pesko, Michael F; Huang, Jidong; Johnston, Lloyd D; Chaloupka, Frank J

2018-05-01

We estimated associations between e-cigarette prices (both disposable and refill) and e-cigarette use among middle and high-school students in the United States. We also estimated associations between cigarette prices and e-cigarette use. We used regression models to estimate the associations between e-cigarette and cigarette prices and e-cigarette use. In our regression models, we exploited changes in e-cigarette and cigarette prices across four periods of time and across 50 markets. We report the associations as price elasticities. In our primary model, we controlled for socio-demographic characteristics, cigarette prices, tobacco control policies, market fixed effects and year-quarter fixed effects. United States of America. A total of 24 370 middle- and high-school students participating in the Monitoring the Future Survey in years 2014 and 2015. Self-reported e-cigarette use over the last 30 days. Average quarterly cigarette prices, e-cigarette disposable prices and e-cigarette refill prices were constructed from Nielsen retail data (inclusive of excise taxes) for 50 US markets. In a model with market fixed effects, we estimated that a 10% increase in e-cigarette disposable prices is associated with a reduction in the number of days vaping among e-cigarette users by approximately 9.7% [95% confidence interval (CI) = -17.7 to 1.8%; P = 0.02] and is associated with a reduction in the number of days vaping by the full sample by approximately 17.9% (95% CI = -31.5 to -4.2%; P = 0.01). Refill e-cigarette prices were not statistically significant predictors of vaping. Cigarette prices were not associated significantly with e-cigarette use regardless of the e-cigarette price used. However, in a model without market fixed effects, cigarette prices were a statistically significant positive predictor of total e-cigarette use. Higher e-cigarette disposable prices appear to be associated with reduced e-cigarette use among adolescents in the US. © 2017 Society

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.

Cross hedging and forward-contract pricing of electricity

Energy Technology Data Exchange (ETDEWEB)

Woo, C.-K.; Hoang, K. [Energy and Environmental Economics, Inc., 353 Sacramento Street, Suite 1700, 94111 San Francisco, CA (United States); Horowitz, I. [Decision and Information Sciences, Warrington College of Business Administration, University of Florida, 32611 Gainesville, FL (United States)

2001-01-01

We consider the problem of an electric-power marketer offering a fixed-price forward contract to provide electricity that it purchases from a potentially volatile and unpredictable fledgling spot energy market. One option for the risk-averse marketer who wants to hedge against the spot-price volatility is to engage in cross hedging to reduce the contract's profit variance, and to determine the forward-contract price as a risk-adjusted price - the sum of a baseline price and a risk premium. We show how the marketer can estimate the spot-price relationship between two wholesale energy markets for the purpose of cross hedging, as well as the optimal hedge and the forward contract's baseline price and risk premium.

Exploring the organizational impact of software-as-a-Service on software vendors the role of organizational integration in software-as-a-Service development and operation

CERN Document Server

Stuckenberg, Sebastian

2014-01-01

Software-as-a-Service has gained momentum as a software delivery and pricing model within the software industry. Existing practices of software vendors are challenged by a potential paradigm shift. This book analyzes the implications of Software-as-a-Service on software vendors using a business model and value chain perspective. The analysis of qualitative data from software vendors highlights the role of organizational integration within software vendors. By providing insights regarding the impact of Software-as-a-Service on organizational structures and processes of software vendors, this st

Renewable Energy Price-Stability Benefits in Utility Green Power Programs. 36 pp

Energy Technology Data Exchange (ETDEWEB)

Bird, Lori A. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Cory, Karlynn S. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Swezey, Blair G. [Applied Materials, Santa Clara, CA (United States)

2008-08-01

This paper examines utility experiences when offering the fixed-price benefits of renewable energy in green pricing programs, including the methods utilized and the impact on program participation. It focuses primarily on utility green pricing programs in states that have not undergone electric industry restructuring.

Optimal designs of small CHP plants in a market with fluctuating electricity prices

International Nuclear Information System (INIS)

Lund, H.; Andersen, A.N.

2005-01-01

Combined Heat and Power production (CHP) are essential for implementation of the climate change response objectives in many countries. In an introduction period, small CHP plants have typically been offered fixed electricity prices, but in many countries, such pricing conditions are now being replaced by spot market prices. Consequently, new methodologies and tools for the optimisation of small CHP plant designs are needed. The small CHP plants in Denmark are already experienced in optimising their electricity production against the triple tariff, which has existed for almost 10 years. Consequently, the CHP plants have long term experience in organising when to switch on and off the CHP units in order to optimise their profit. Also, the CHP owners have long term experience in designing their plants. For instance, small CHP plants in Denmark have usually invested in excess capacity on the CHP units in combination with heat storage capacity. Thereby, the plants have increased their performance in order to optimise revenues. This paper presents the Danish experience with methodologies and software tools, which have been used to design investment and operation strategies for almost all small CHP plants in Denmark during the decade of the triple tariff. Moreover, the changes in such methodologies and tools in order to optimise performance in a market with fluctuating electricity prices are presented and discussed

The importance of fixed costs in animal health systems.

Science.gov (United States)

Tisdell, C A; Adamson, D

2017-04-01

In this paper, the authors detail the structure and optimal management of health systems as influenced by the presence and level of fixed costs. Unlike variable costs, fixed costs cannot be altered, and are thus independent of the level of veterinary activity in the short run. Their importance is illustrated by using both single-period and multi-period models. It is shown that multi-stage veterinary decision-making can often be envisaged as a sequence of fixed-cost problems. In general, it becomes clear that, the higher the fixed costs, the greater the net benefit of veterinary activity must be, if such activity is to be economic. The authors also assess the extent to which it pays to reduce fixed costs and to try to compensate for this by increasing variable costs. Fixed costs have major implications for the industrial structure of the animal health products industry and for the structure of the private veterinary services industry. In the former, they favour market concentration and specialisation in the supply of products. In the latter, they foster increased specialisation. While cooperation by individual farmers may help to reduce their individual fixed costs, the organisational difficulties and costs involved in achieving this cooperation can be formidable. In such cases, the only solution is government provision of veterinary services. Moreover, international cooperation may be called for. Fixed costs also influence the nature of the provision of veterinary education.

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

47 CFR 51.701 - Scope of transport and termination pricing rules.

Science.gov (United States)

2010-10-01

... 47 Telecommunication 3 2010-10-01 2010-10-01 false Scope of transport and termination pricing rules. 51.701 Section 51.701 Telecommunication FEDERAL COMMUNICATIONS COMMISSION (CONTINUED) COMMON... Telecommunications Traffic § 51.701 Scope of transport and termination pricing rules. (a) The provisions of this...

Dynamic pricing of electricity for residential customers. The evidence from Michigan

Energy Technology Data Exchange (ETDEWEB)

Faruqui, A.; Akaba, L. [The Brattle Group, 201 Mission Street, Suite 2800, San Francisco, CA 94105 (United States); Sergici, S. [The Brattle Group, 44 Brattle Street, Cambridge, MA 02138 (United States)

2013-08-15

The rollout of smart meters has enabled the provision of dynamic pricing to residential customers. However, doubts remain whether households can respond to time-varying price signals and that is preventing the full-scale rollout of dynamic pricing and the attainment of economic efficiency. Experiments are being conducted to test price responsiveness. We analyze data from a pilot in Michigan which featured two dynamic pricing rates and an enabling technology. Unlike most other pilots, it also included a group of 'information only' customers who were provided information on time-varying prices but billed on standard rates. Similarly, unlike most other pilots, it also included two control groups, one of whom knew they were in the pilot and one of whom did not. This was designed to test for the presence of a Hawthorne effect. Consistent with the large body of experimental literature, we find that customers, including low-income participants, do respond to dynamic pricing. We also find that the response to critical peak pricing rates is similar to the response to peak time rebates, consistent with the finding of one prior experiment but inconsistent with the finding of two prior experiments. We also find that the 'information only' customers respond to the provision of pricing information but at a substantially lower rate than the customers on dynamic pricing. We find that the response to enabling technology is muted. We do not find any evidence to suggest that a Hawthorne effect existed in this experiment.

Production Contracts and the Spot Market Price of Hogs

OpenAIRE

Key, Nigel D.

2010-01-01

The increasing use of production contracts in the hog sector has reduced the number of spot market transactions, raised concerns about price manipulation and helped to spur legislation requiring price reporting by packers. Using data from the 2002 and 2007 Censuses of Agriculture, this study looks for evidence of market manipulation by examining whether the local prevalence of contracting affects the average price received by independent producers. The empirical approach uses a fixed-effects ...

First field trial of Virtual Network Operator oriented network on demand (NoD) service provisioning over software defined multi-vendor OTN networks

Science.gov (United States)

Li, Yajie; Zhao, Yongli; Zhang, Jie; Yu, Xiaosong; Chen, Haoran; Zhu, Ruijie; Zhou, Quanwei; Yu, Chenbei; Cui, Rui

2017-01-01

A Virtual Network Operator (VNO) is a provider and reseller of network services from other telecommunications suppliers. These network providers are categorized as virtual because they do not own the underlying telecommunication infrastructure. In terms of business operation, VNO can provide customers with personalized services by leasing network infrastructure from traditional network providers. The unique business modes of VNO lead to the emergence of network on demand (NoD) services. The conventional network provisioning involves a series of manual operation and configuration, which leads to high cost in time. Considering the advantages of Software Defined Networking (SDN), this paper proposes a novel NoD service provisioning solution to satisfy the private network need of VNOs. The solution is first verified in the real software defined multi-domain optical networks with multi-vendor OTN equipment. With the proposed solution, NoD service can be deployed via online web portals in near-real time. It reinvents the customer experience and redefines how network services are delivered to customers via an online self-service portal. Ultimately, this means a customer will be able to simply go online, click a few buttons and have new services almost instantaneously.

Experimental demonstration of bandwidth on demand (BoD) provisioning based on time scheduling in software-defined multi-domain optical networks

Science.gov (United States)

Zhao, Yongli; Li, Yajie; Wang, Xinbo; Chen, Bowen; Zhang, Jie

2016-09-01

A hierarchical software-defined networking (SDN) control architecture is designed for multi-domain optical networks with the Open Daylight (ODL) controller. The OpenFlow-based Control Virtual Network Interface (CVNI) protocol is deployed between the network orchestrator and the domain controllers. Then, a dynamic bandwidth on demand (BoD) provisioning solution is proposed based on time scheduling in software-defined multi-domain optical networks (SD-MDON). Shared Risk Link Groups (SRLG)-disjoint routing schemes are adopted to separate each tenant for reliability. The SD-MDON testbed is built based on the proposed hierarchical control architecture. Then the proposed time scheduling-based BoD (Ts-BoD) solution is experimentally demonstrated on the testbed. The performance of the Ts-BoD solution is evaluated with respect to blocking probability, resource utilization, and lightpath setup latency.

48 CFR 27.202-5 - Solicitation provisions and contract clause.

Science.gov (United States)

2010-10-01

... pricing data are obtained under 15.403; or (ii) Sealed bid solicitations only if the need for such... the contract. If a fixed-price incentive contract is contemplated, change “price” to “target cost and target profit” wherever it appears in the clause. The clause may be used in cost-reimbursement contracts...

Equity prices, productivity growth and 'The New Economy'

DEFF Research Database (Denmark)

Madsen, Jakob B.; Davis, E. Philip

2006-01-01

The sharp increase in equity prices over the 1990s was widely attributed to permanently higher productivity growth derived from the New Economy. This article establishes a rational expectations model of technology innovations and equity prices, which shows that under plausible assumptions......, productivity advances can only have temporary effects on the fundamentals of equity prices. Using historical data on productivity of R&D capital, patent capital and fixed capital for 11 OECD countries, empirical evidence gives strong support for the model by suggesting that technological innovations indeed...

27 CFR 53.91 - Charges to be included in sale price.

Science.gov (United States)

2010-04-01

... or display of the article, for sales promotion programs, or otherwise. With respect to the rules... sale price. 53.91 Section 53.91 Alcohol, Tobacco Products and Firearms ALCOHOL AND TOBACCO TAX AND... AMMUNITION Special Provisions Applicable to Manufacturers Taxes § 53.91 Charges to be included in sale price...

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

On the importance of commodity and energy price shocks for the macroeconomy

Science.gov (United States)

Edelstein, Paul S.

Although higher commodity prices are commonly thought to presage higher rates of inflation, the existing literature suggests that the predictive power of commodity prices for inflation has waned since the 1980s. In the first chapter, I show that this result can be overturned using state-of-the-art forecast combination methods. Moreover, commodity prices are shown to contain predictive information not contained in the leading principal components of a broad set of macroeconomic and financial variables. These improved inflation forecasts are of little value, however, for predicting actual Fed policy decisions. The remaining two chapters study the effect of energy price shocks on U.S. consumer and business expenditures. In the second chapter, I show that there is no statistical support for the presence of asymmetries in the response of real consumption to energy price increases and decreases. This finding has important implications for empirical and theoretical models of the transmission of energy price shocks. I then quantify the direct effect on real consumption of (1) unanticipated changes in discretionary income, (2) shifts in precautionary savings, and (3) changes in the operating cost of energy-using durables. Finally, I trace the declining importance of energy price shocks relative to the 1970s to changes in the composition of U.S. automobile production and the declining overall importance of the U.S. automobile sector. An alternative source of asymmetry is the response of nonresidential fixed investment to energy price shocks. In the third chapter, I show that the apparent asymmetry in the estimated responses of business fixed investment in equipment and structures is largely an artifact (1) of the aggregation of mining-related expenditures by the oil, natural gas, and coal mining industry and all other expenditures, and (2) of ignoring an exogenous shift in investment caused by the 1986 Tax Reform Act. Once symmetry is imposed and miningrelated expenditures

78 FR 10579 - TRICARE Revision to CHAMPUS DRG-Based Payment System, Pricing of Hospital Claims

Science.gov (United States)

2013-02-14

... 0720-AB58 TRICARE Revision to CHAMPUS DRG-Based Payment System, Pricing of Hospital Claims AGENCY... change TRICARE's current regulatory provision for hospital claims priced under the DRG-based payment... under the DRG- based payment system from the beneficiary's date of admission, to pricing such claims...

Software Reviews.

Science.gov (United States)

Kinnaman, Daniel E.; And Others

1988-01-01

Reviews four educational software packages for Apple, IBM, and Tandy computers. Includes "How the West was One + Three x Four,""Mavis Beacon Teaches Typing,""Math and Me," and "Write On." Reviews list hardware requirements, emphasis, levels, publisher, purchase agreements, and price. Discusses the strengths…

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

Science.gov (United States)

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

2018-01-01

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

Pricing Strategies and Models for the Provision of Digitized Texts in Higher Education.

Science.gov (United States)

Hardy, Rachel; Oppenheim, Charles; Rubbert, Iris

2002-01-01

Describes research into charging mechanisms for the delivery of digitized texts to higher education students in the United Kingdom and discusses the need for a satisfactory pricing model. Explains the HERON (Higher Education Resources On-Demand) and PELICAN (Pricing Experiment Library Information Cooperative Network) projects and considers…

Local house prices and mental health.

Science.gov (United States)

Joshi, Nayan Krishna

2016-03-01

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

75 FR 10272 - Notice Regarding 340B Drug Pricing Program-Contract Pharmacy Services

Science.gov (United States)

2010-03-05

... Regarding 340B Drug Pricing Program--Contract Pharmacy Services AGENCY: Health Resources and Services... drug pricing program by which manufacturers who sell covered outpatient drugs to particular covered... provisions, which had been previously limited to the Alternative Methods Demonstration Project program. FOR...

Empirical Studies on Sovereign Fixed Income Markets

NARCIS (Netherlands)

J.G. Duyvesteyn (Johan)

2015-01-01

markdownabstractAbstract This dissertation presents evidence of five studies showing that sovereign fixed income markets are not always price efficient. The emerging local currency debt market has grown to a large size of more than 1.5 trill ion US Dollars at the end of 2012. The factors

Strategic Generation with Conjectured Transmission Price Responses in a Mixed Transmission Pricing System. Part 1. Formulation

International Nuclear Information System (INIS)

Hobbs, B.F.; Rijkers, F.A.M.

2004-05-01

The conjectured supply function (CSF) model calculates an oligopolistic equilibrium among competing generating companies (GenCos), presuming that GenCos anticipate that rival firms will react to price increases by expanding their sales at an assumed rate. The CSF model is generalized here to include each generator's conjectures concerning how the price of transmission services (point-to-point service and constrained interfaces) will be affected by the amount of those services that the generator demands. This generalization reflects the market reality that large producers will anticipate that they can favorably affect transmission prices by their actions. The model simulates oligopolistic competition among generators while simultaneously representing a mixed transmission pricing system. This mixed system includes fixed transmission tariffs, congestion-based pricing of physical transmission constraints (represented as a linearized dc load flow), and auctions of interface capacity in a path-based pricing system. Pricing inefficiencies, such as export fees and no credit for counterflows, can be simulated. The model is formulated as a linear mixed complementarity problem, which enables very large market models to be solved. In the second paper of this two-paper series, the capabilities of the model are illustrated with an application to northwest Europe, where transmission pricing is based on such a mixture of approaches

Information provision by regulated public transport companies

DEFF Research Database (Denmark)

Deborger, Bruno; Fosgerau, Mogens

2012-01-01

We study the interaction between pricing, frequency of service and information provision by public transport firms offering scheduled services, and we do so under various regulatory regimes. The model assumes that users can come to the bus stop or rail station at random or they can plan their trips...

Spatial Aspects of the Provision of Forest Ecosystem Services

DEFF Research Database (Denmark)

Nielsen, Anne Sofie Elberg

to the incorporation of spatial factors into cost and benefit evaluation of FES provision. Focus is on assessing where forest ecosystem provision should be undertaken, determinants of private stakeholder provision efforts and welfare consequences of changes in the provision level. Provision of carbon sequestration...... estimates for the U.S. counties of the cost of carbon sequestration from afforestation (conversion of non-forest land to forest), when afforestation is restricted by Holdridge zone climatic conditions. Aside from assessing the overall marginal cost schedule, the spatial distribution of these are examined......, to assess where afforestation should be undertaken for given carbon prices. The second paper investigates the determinants of landowner participation in a Danish voluntary conservation program. Combining contract data of landowners’ actual choices, GIS information on area specific characteristics...

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

Science.gov (United States)

2010-10-01

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

An Analysis of Reconstituted Fluid Milk Pricing Policy

OpenAIRE

Glen D. Whipple

1983-01-01

This analysis suggests that alteration of the reconstituted fluid milk pricing provisions of federal and state milk market orders would have a substantial impact on market equilibrium. A reactive programming model of the U.S. milk market was used to simulate the effects of altered reconstituted fluid milk pricing policy. The solutions indicate that reconstituted fluid milk, as a lower cost alternative to fresh fluid milk, would make up a substantial portion of the fluid milk consumption in so...

48 CFR 52.246-2 - Inspection of Supplies-Fixed-Price.

Science.gov (United States)

2010-10-01

... covering supplies under this contract and shall tender to the Government for acceptance only supplies that... mistakes amounting to fraud, or as otherwise provided in the contract. (l) If acceptance is not conclusive... remedies provided by law, or under other provisions of this contract, shall have the right to require the...

Learning monopolies with delayed feedback on price expectations

Science.gov (United States)

Matsumoto, Akio; Szidarovszky, Ferenc

2015-11-01

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

Financial planning and pricing strategy of NEC-AD (BG)

International Nuclear Information System (INIS)

Kynev, K.

1994-01-01

Methods for power pricing under market economy conditions are proposed from the point of view of financial planning. It is completely consistent with state regulation principle based on power supply costs. The main assumption is that instead of fixing prices for particular time periods, a long-term pricing strategy has to be developed. In this way, within the given macro- and micro-economical frames, certain strategical and tactical financial results can be achieved. The methods are worked out based on a real example. 13 tabs. (author)

Effects of unit-based garbage pricing : A differences-in-differences approach

NARCIS (Netherlands)

Allers, Maarten A.; Hoeben, Corine

Using a unique 10-year dataset of all 458 Dutch municipalities, we apply a differences-in-differences approach to estimate the effect of unit-based pricing on household waste quantities and recycling. Community-level studies of unit-based pricing typically do not include fixed effects at the local

Software development: do good manners matter?

Directory of Open Access Journals (Sweden)

Giuseppe Destefanis

2016-07-01

Full Text Available A successful software project is the result of a complex process involving, above all, people. Developers are the key factors for the success of a software development process, not merely as executors of tasks, but as protagonists and core of the whole development process. This paper investigates social aspects among developers working on software projects developed with the support of Agile tools. We studied 22 open-source software projects developed using the Agile board of the JIRA repository. All comments committed by developers involved in the projects were analyzed and we explored whether the politeness of comments affected the number of developers involved and the time required to fix any given issue. Our results showed that the level of politeness in the communication process among developers does have an effect on the time required to fix issues and, in the majority of the analysed projects, it had a positive correlation with attractiveness of the project to both active and potential developers. The more polite developers were, the less time it took to fix an issue.

If it ain't broke, don't price fix it: the OFT and the PPRS.

Science.gov (United States)

Towse, Adrian

2007-07-01

The Office of Fair Trading (OFT) Report on the UK Pharmaceutical Price Regulation Scheme (PPRS) recommends that when the current five-year PPRS expires in 2010 it be replaced with 'value-based pricing' which involves pre-launch centralised government price setting based on a cost-per-QALY threshold plus periodic ex post reviews. I examine the validity of the OFTs criticisms of the existing PPRS, review its proposals and propose an alternative way forward. I conclude that PPRS has performed well as a procurement bargain between industry and the UK government. It does not, however, incentivise efficient relative prices. That is not its job. I identify a number of problems with the OFT proposals. I recommend that key elements of a reformed UK pharmaceutical environment for 2010 should include an expanded role for HTA but with companies retaining freedom to set prices at launch; HTA use targeted via a contingent value of information approach; a retained backstop PPRS, perhaps moving to an RPI-X type control; the use of risk sharing and non-linear pricing arrangements; measures to ensure more effective therapeutic switching at local level; and measures to improve the take up of cost-effective treatments. Copyright (c) 2007 John Wiley & Sons, Ltd.

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

Energy Technology Data Exchange (ETDEWEB)

Hennicke, P.

1983-01-01

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

Challenges of Implementing Free and Open Source Software (FOSS): Evidence from the Indian Educational Setting

Science.gov (United States)

Thankachan, Briju; Moore, David Richard

2017-01-01

The use of Free and Open Source Software (FOSS), a subset of Information and Communication Technology (ICT), can reduce the cost of purchasing software. Despite the benefit in the initial purchase price of software, deploying software requires total cost that goes beyond the initial purchase price. Total cost is a silent issue of FOSS and can only…

Sustainable embedded software lifecycle planning

OpenAIRE

Lee, Dong-Hyun; In, Hoh Peter; Lee, Keun; Park, Sooyong; Hinchey, Mike

2012-01-01

peer-reviewed Time-to-market is a crucial factor in increasing market share in the consumer electronics (CE) market. Furthermore, fierce competition in the market tends to sharply lower the prices of brand-new CE products as soon as they are released. Software-intensive embedded system design methods such as hardware/software co-design have been studied with the goal of reducing development lead-time by designing hardware and software simultaneously. Many researchers, however, concentra...

Autonomic Resource Provisioning for Cloud-Based Software

DEFF Research Database (Denmark)

Jamshidi, Pooyan; Ahmad, Aakash; Pahl, Claus

2014-01-01

Elasticity endows a software system with the ability to maintain optimal user experience by automatically acquiring and releasing resources, while paying only for what they require. The mechanism for automatically adding or removing resources on the fly is referred to as auto-scaling. The state-o...

"The Consumer Price Index As a Measure of Inflation"

OpenAIRE

Dimitri B. Papadimitriou; L. Randall Wray

1996-01-01

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

The Physics of Traffic Congestion and Road Pricing in Transportation Planning

Science.gov (United States)

Levinson, David

2010-03-01

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

Historical Cost Dan General Price Level Accounting: Analisis Relevansi Indikator Keuangan

OpenAIRE

-, Meythi; Teresa, Sheffie

2012-01-01

In conventional accounting, financial statements are based on the historical cost principle that assumes that prices (monetary unit) are stable. Conventional accounting recognizes neither changes in the general price level nor changes in the specific price level. Consequently, if there are any changes in purchasing power such as in inflation period, the historical financial statement are not economically relevant and also income is usually overstated, and the fixed assets are usually understa...

Incentive, sustainable and fair pricing, a trilogy out of reach?

OpenAIRE

Maria Salvetti

2005-01-01

The Water Framework Directive requires Member-States to implement by 2010 an incentive tariffication policy in order to ensure efficient use of water resources and compliance with environmental goals (good ecological status). But working out an incentive pricing system, that is both sustainable and fair, is not an easy task. 1) Can an incentive pricing be a sustainable pricing? a) Water & wastewater services are very capitalistic: fixed costs can represent up to 2/3 or 3/4 of the service cost...

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

Science.gov (United States)

2007-12-01

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

Pricing Chinese Convertible Bonds with Dynamic Credit Risk

Directory of Open Access Journals (Sweden)

Ping Li

2014-01-01

Full Text Available To price convertible bonds more precisely, least squares Monte Carlo (LSM method is used in this paper for its advantage in handling the dependence of derivatives on the path, and dynamic credit risk is used to replace the fixed one to make the value of convertible bonds reflect the real credit risk. In the empirical study, we price convertible bonds based on static credit risk and dynamic credit risk, respectively. Empirical results indicate that the ICBC convertible bond has been overpriced, resulting from the underestimation of credit risk. In addition, when there is an issue of dividend, the conversion price will change in China's convertible bonds, while it does not change in the international convertible bonds. So we also empirically study the difference between the convertible bond's prices by assuming whether the conversion price changes or not.

Thyroid uptake software

International Nuclear Information System (INIS)

Alonso, Dolores; Arista, Eduardo

2003-01-01

The DETEC-PC software was developed as a complement to a measurement system (hardware) able to perform Iodine Thyroid Uptake studies. The software was designed according to the principles of Object oriented programming using C++ language. The software automatically fixes spectrometric measurement parameters and besides patient measurement also performs statistical analysis of a batch of samples. It possesses a PARADOX database with all information of measured patients and a help system with the system options and medical concepts related to the thyroid uptake study

Small-scale fixed wing airplane software verification flight test

Science.gov (United States)

Miller, Natasha R.

The increased demand for micro Unmanned Air Vehicles (UAV) driven by military requirements, commercial use, and academia is creating a need for the ability to quickly and accurately conduct low Reynolds Number aircraft design. There exist several open source software programs that are free or inexpensive that can be used for large scale aircraft design, but few software programs target the realm of low Reynolds Number flight. XFLR5 is an open source, free to download, software program that attempts to take into consideration viscous effects that occur at low Reynolds Number in airfoil design, 3D wing design, and 3D airplane design. An off the shelf, remote control airplane was used as a test bed to model in XFLR5 and then compared to flight test collected data. Flight test focused on the stability modes of the 3D plane, specifically the phugoid mode. Design and execution of the flight tests were accomplished for the RC airplane using methodology from full scale military airplane test procedures. Results from flight test were not conclusive in determining the accuracy of the XFLR5 software program. There were several sources of uncertainty that did not allow for a full analysis of the flight test results. An off the shelf drone autopilot was used as a data collection device for flight testing. The precision and accuracy of the autopilot is unknown. Potential future work should investigate flight test methods for small scale UAV flight.

Power purchase prices for wind power IPPs (independent power producers) in Western Europe

International Nuclear Information System (INIS)

Kummert, C.

1995-01-01

In a number of European countries, renewable energy installations, especially wind turbines, are supported by paying high prices for their electricity. A survey of pricing practice should not be limited to an international comparison of price levels, however. The terms under which prices are fixed are important criteria for the assessment of costs and cost effectiveness of wind power projects. The conditions for electricity supply by independent wind power operators in Western Europe are therefore surveyed here. A comparison of the price levels is also shown. (author)

Optimal Portfolio Selection Under Concave Price Impact

International Nuclear Information System (INIS)

Ma Jin; Song Qingshuo; Xu Jing; Zhang Jianfeng

2013-01-01

In this paper we study an optimal portfolio selection problem under instantaneous price impact. Based on some empirical analysis in the literature, we model such impact as a concave function of the trading size when the trading size is small. The price impact can be thought of as either a liquidity cost or a transaction cost, but the concavity nature of the cost leads to some fundamental difference from those in the existing literature. We show that the problem can be reduced to an impulse control problem, but without fixed cost, and that the value function is a viscosity solution to a special type of Quasi-Variational Inequality (QVI). We also prove directly (without using the solution to the QVI) that the optimal strategy exists and more importantly, despite the absence of a fixed cost, it is still in a “piecewise constant” form, reflecting a more practical perspective.

Optimal Portfolio Selection Under Concave Price Impact

Energy Technology Data Exchange (ETDEWEB)

Ma Jin, E-mail: jinma@usc.edu [University of Southern California, Department of Mathematics (United States); Song Qingshuo, E-mail: songe.qingshuo@cityu.edu.hk [City University of Hong Kong, Department of Mathematics (Hong Kong); Xu Jing, E-mail: xujing8023@yahoo.com.cn [Chongqing University, School of Economics and Business Administration (China); Zhang Jianfeng, E-mail: jianfenz@usc.edu [University of Southern California, Department of Mathematics (United States)

2013-06-15

In this paper we study an optimal portfolio selection problem under instantaneous price impact. Based on some empirical analysis in the literature, we model such impact as a concave function of the trading size when the trading size is small. The price impact can be thought of as either a liquidity cost or a transaction cost, but the concavity nature of the cost leads to some fundamental difference from those in the existing literature. We show that the problem can be reduced to an impulse control problem, but without fixed cost, and that the value function is a viscosity solution to a special type of Quasi-Variational Inequality (QVI). We also prove directly (without using the solution to the QVI) that the optimal strategy exists and more importantly, despite the absence of a fixed cost, it is still in a 'piecewise constant' form, reflecting a more practical perspective.

Identification of Factors of Influence upon the Cost of Fixed Coupon Securities

Directory of Open Access Journals (Sweden)

Hlotov Yevhen O.

2014-01-01

Full Text Available The article studies fixed coupon securities (bonds. It provides a calculation of the cash flow, generated by fixed coupon securities, with enclosed discounted face value of securities. It analyses time indicator – average weighted duration of payments, which characterises sensitivity of the price of securities to changes of interest rates in the market. It proves availability of two groups of interconnections between the cost of a bond, coupon rate, market rate (rate of return and term of its payment. The first group of interconnections reflects interconnections between the cost of a bond, coupon rate and market rate (rate of return. The second group characterises connection between the bond cost and term of its payment. The authors study the average weighted duration of payments. It plays an important role in analysis of long-term securities with fixed income. To simplify calculations it was accepted that the coupon payment is done once a year. The article offers a formula for identifying inaccuracy of the bond price depending on the expected change of profitability on payment. Analysing duration properties the article identifies shortcomings inherent in this indicator. Taking into account the average weighted duration of payments the article recommends a formula, as more efficient, for identification of the future bond price depending on change of profitability. The conducted studies are a theoretical ground for development of models of management of fixed income securities portfolios. The obtained scientific results could be used in the educational process both in colleges and specialised trainings of securities specialists. The scientific results could be used for developing information technologies when identifying cost of securities (fixed coupon bonds.

A Dynamic Life-cycle Model for the Provisioning of Software Testing Services: Experiences from A Case Study in the Chinese ICT Sourcing Market

OpenAIRE

Lu, Yikun; Käkölä, Timo

2011-01-01

ICT-enabled international sourcing of software-intensive systems and services (eSourcing) is a powerful strategy for managing businesses more effectively. China is becoming a superpower for eSourcing service provisioning, but most Chinese providers are small or medium-sized and leverage the mediated eSourcing model, delivering services to foreign ICT clients that interface with end-clients onshore. This model restricts the providers to low-value projects. This paper probes eSourci...

Systematic Software Development

DEFF Research Database (Denmark)

Kuhrmann, Marco; Méndez Fernández, Daniel

2015-01-01

The speed of innovation and the global allocation of resources to accelerate development or to reduce cost put pressure on the software industry. In the global competition, especially so-called high-price countries have to present arguments why the higher development cost is justified and what...... makes these countries an attractive host for software companies. Often, high-quality engineering and excellent quality of products, e.g., machinery and equipment, are mentioned. Yet, the question is: Can such arguments be also found for the software industry? We aim at investigating the degree...... of professionalism and systematization of software development to draw a map of strengths and weaknesses. To this end, we conducted as a first step an exploratory survey in Germany, presented in this paper. In this survey, we focused on the perceived importance of the two general software engineering process areas...

INNOVATIVE SYSTEM OF FIXED CAPITAL REPRODUCTION

Directory of Open Access Journals (Sweden)

G. S. Merzlikina

2015-01-01

Full Text Available The article presents the basic problems of fixed capital reproduction. There are considered a significant depreciation of fixed assets of Russian enterprises. There are presented arguments in favor of urgency of the problem of reproduction of fixed assets of the Russian Federation. The paper presents theoretical evidence base basic types of fixed capital reproduction. There are identified all possible sources of simple and expanded reproduction of capital. There are considered the role of value and feasibility of depreciation in the formation of Reserve reproduction. Suggested the formation of accounting and analytical management provision fixed capital, as well as an innovative system of fixed capital reproduction, which implies the creation of depreciation , capital, revaluation, liquidation reserves. The algorithm of business valuation based on an innovative system of capital reproduction. The algorithm and the possibility of formation of reserves are considered on a concrete example of one of the industrial enterprises of the city Volgograd. On the basis of the algorithm presented calculations of business valuation of the enterprise. Calculations have shown an increase in value of the business condition of the formation of special reserves, which underlines the necessary and urgency of their formation in accounting policy and economy organizations and enterprises of Russia as a whole.

Tools & training for more secure software

CERN Multimedia

CERN. Geneva

2017-01-01

Just by fate of nature, software today is shipped out as “beta”, coming with vulnerabilities and weaknesses, which should already have been fixed at the programming stage. This presentation will show the consequences of suboptimal software, why good programming, thorough software design, and a proper software development process is imperative for the overall security of the Organization, and how a few simple tools and training are supposed to make CERN software more secure.

Equivalent oil price, equivalent gas price and CO2 cost

International Nuclear Information System (INIS)

Bacher, P.

2008-01-01

This article assess the magnitudes of costs to replace oil (and natural gas) in their fixed (heat) or mobile (transport) uses with energy savings or non CO 2 emitting energies. The price of oil (or gas) at which such measures would be profitable at is inferred, without any tax or subsidy, as well as the resulting CO 2 costs avoided. It shows that several of the actions considered in France and Europe to protect the climate are far from being the most economically justified. (author)

R&D and Price Elasticity of Demand

DEFF Research Database (Denmark)

Lucke, D.; Schröder, Philipp; D., Schumacher,

2004-01-01

This paper explores the relationship between the price elasticity of demand and the R&D intensity of the product. We introduce the concept of R&D intensity into a standard Dixit-Stiglitz/Krugman-type setting. R&D activity is treated as a fixed cost of production. Within this framework, sectors...... with a higher R&D intensity show a lower price elasticity of demand. This proposition is confirmed by an empirical investigation of export demand for manufactured goods from major industrialised countries. Consequently, real exchange rate changes have an impact on the commodity structure of exports....

Software Quality Assurance and Controls Standard

Science.gov (United States)

2010-04-27

dassurance a wor pro uc s an processes comply with predefined provisions and plans. • According to International Standard (IS) 12207 – of the 44...from document (plan) focus to process focus – Alignment with framework standard IS 12207 software life cycle (SLC) processes with exact...Books and P blications IEEE Software and Systems Engineering curriculum ABET u Certified Software Development Professional Standards ISO /IEC

Setting Offer Prices by Housing Developers - Selected Issues in the Light of Literature Review

Directory of Open Access Journals (Sweden)

Dittmann Iwona

2015-02-01

Full Text Available This paper deals with selected theoretical issues pertaining to the setting of asking prices by housing developers. Determinants of the buyer’s and seller’s reservation prices have been identified. The advantages and disadvantages, in terms of behavioral economics, of the pricing strategies practiced by housing developers have been indicated. The strategy based on fixing an asking price roughly equal to the estimated market value of the property was compared with the strategy based on offering an inflated asking price (with the assumption of price negotiations. A second comparison concerned the strategy of price disclosure compared with the strategy of price non-disclosure.

Price elasticities of alcohol demand: evidence from Russia.

Science.gov (United States)

Goryakin, Yevgeniy; Roberts, Bayard; McKee, Martin

2015-03-01

In this paper, we estimate price elasticities of demand of several types of alcoholic drinks, using 14 rounds of data from the Russia Longitudinal Monitoring Survey-HSE, collected from 1994 until 2009. We deal with potential confounding problems by taking advantage of a large number of control variables, as well as by estimating community fixed effect models. All in all, although alcohol prices do appear to influence consumption behaviour in Russia, in most cases the size of effect is modest. The finding that two particularly problematic drinks-cheap vodka and fortified wine-are substitute goods also suggests that increasing their prices may not lead to smaller alcohol consumption. Therefore, any alcohol pricing policies in Russia must be supplemented with other measures, such as restrictions on numbers of sales outlets or their opening times.

Global Mapping of Provisioning Ecosystem Services

Science.gov (United States)

Bingham, Lisa; Straatsma, Menno; Karssenberg, Derek

2016-04-01

Attributing monetary value to ecosystem services for decision-making has become more relevant as a basis for decision-making. There are a number of problematic aspects of the calculations, including consistency of economy represented (e.g., purchasing price, production price) and determining which ecosystem subservices to include in a valuation. While several authors have proposed methods for calculating ecosystem services and calculations are presented for global and regional studies, the calculations are mostly broken down into biomes and regions without showing spatially explicit results. The key to decision-making for governments is to be able to make spatial-based decisions because a large spatial variation may exist within a biome or region. Our objective was to compute the spatial distribution of global ecosystem services based on 89 subservices. Initially, only the provisioning ecosystem service category is presented. The provisioning ecosystem service category was calculated using 6 ecosystem services (food, water, raw materials, genetic resources, medical resources, and ornaments) divided into 41 subservices. Global data sets were obtained from a variety of governmental and research agencies for the year 2005 because this is the most data complete and recent year available. All data originated either in tabular or grid formats and were disaggregated to 10 km cell length grids. A lookup table with production values by subservice by country were disaggregated over the economic zone (either marine, land, or combination) based on the spatial existence of the subservice (e.g. forest cover, crop land, non-arable land). Values express the production price in international dollars per hectare. The ecosystem services and the ecosystem service category(ies) maps may be used to show spatial variation of a service within and between countries as well as to specifically show the values within specific regions (e.g. countries, continents), biomes (e.g. coastal, forest

El Abasto de Pan en el Madrid del Siglo XVII Bread provision in seventeenth century Madrid

Directory of Open Access Journals (Sweden)

José Ignacio ANDRÉS UCENDO

2012-12-01

Full Text Available El mercado del pan era el más importante de los mercados de abastos, pero también el que contaba con el más complejo sistema de intervención. Los objetivos de la política de abastos eran asegurar un suministro continuo a precios estables y moderados.Los instrumentos incluían la regulación de los precios del grano y el pan, la provisión directa a través del pósito municipal y, en el caso de la corte, el pan de registro. En este trabajo examinamos la política de tasas, las disposiciones del gobierno y el comportamiento de los precios del pan en Madrid y del trigo en los mercados de origen.Bread market was the most important provision markets, so the complexity of intervention system. The aim of provision policy was to guarantee the continuous supply of bread at moderate and stable prices. The means included the regulation the price, the direct provision by the public granary and, in the case of the court, the named registered bread. This paper examines the tax policy, the government requirements and the movement of bread prices in Madrid and wheat prices in the markets of origin.

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

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)

COMPETITION AND PRICING OF ESSENTIAL INPUTS: THE CASE OF ACCESS CHARGES FOR THE USE OF THE ITALIAN RAIL INFRASTRUCTURE

Directory of Open Access Journals (Sweden)

Ugo Arrigo

2013-12-01

Full Text Available This paper explores the access charge for the use of the Italian rail infrastructure. Access problems arise when the provision of a complete service to end users requires the combination of two or more inputs, one of which is non-competitive (OECD, 2004. It is a well-known fact that excessive access charges mean higher prices for rail passengers and rail freight companies when using the infrastructure. We conclude that the structure of the access charge has changed significantly with the recent introduction of the HS/HC (high-speed and high-capacity network; specifically, the fixed component has lost importance, whilst the variable component reaches 94%. The results of this paper provide evidence of the access charge for HS/HC being above 13 €/km.

Rising prices squeeze gas marketer

Energy Technology Data Exchange (ETDEWEB)

Lunan, D.

2000-06-19

Apollo Gas, a Toronto-based gas marketer, is considering options to enhance unit holder value, including sale of its 21,000 gas supply contracts, just weeks after it was forced out of the Alberta market by rising gas prices. Although the company had reported first quarter revenues of more than $15 million and earnings through that period of about $2.1 million, increases of 33 per cent and 38 per cent respectively over the same period in 1999, the company is resigned to the fact that such performance markers are not likely to be reached again in the foreseeable future, hence the decision to sell. About 95 per cent of Apollo's current transportation service volumes are matched to existing fixed-price supply contract which are due to expire in November 2000. After that, it is about 75 per cent matched for the balance of the term of its customer contracts (mostly five years). This means that the company is exposed to market prices that are likely to continue to increase. If this prediction holds true, Apollo would be forced to purchase the unhedged volumes of gas it needs to service its customers in the spot market at prices higher than prices the company is charging to its customers.

Rising prices squeeze gas marketer

International Nuclear Information System (INIS)

Lunan, D.

2000-01-01

Apollo Gas, a Toronto-based gas marketer, is considering options to enhance unit holder value, including sale of its 21,000 gas supply contracts, just weeks after it was forced out of the Alberta market by rising gas prices. Although the company had reported first quarter revenues of more than $15 million and earnings through that period of about $2.1 million, increases of 33 per cent and 38 per cent respectively over the same period in 1999, the company is resigned to the fact that such performance markers are not likely to be reached again in the foreseeable future, hence the decision to sell. About 95 per cent of Apollo's current transportation service volumes are matched to existing fixed-price supply contract which are due to expire in November 2000. After that, it is about 75 per cent matched for the balance of the term of its customer contracts (mostly five years). This means that the company is exposed to market prices that are likely to continue to increase. If this prediction holds true, Apollo would be forced to purchase the unhedged volumes of gas it needs to service its customers in the spot market at prices higher than prices the company is charging to its customers

Creating and Testing Simulation Software

Science.gov (United States)

Heinich, Christina M.

2013-01-01

The goal of this project is to learn about the software development process, specifically the process to test and fix components of the software. The paper will cover the techniques of testing code, and the benefits of using one style of testing over another. It will also discuss the overall software design and development lifecycle, and how code testing plays an integral role in it. Coding is notorious for always needing to be debugged due to coding errors or faulty program design. Writing tests either before or during program creation that cover all aspects of the code provide a relatively easy way to locate and fix errors, which will in turn decrease the necessity to fix a program after it is released for common use. The backdrop for this paper is the Spaceport Command and Control System (SCCS) Simulation Computer Software Configuration Item (CSCI), a project whose goal is to simulate a launch using simulated models of the ground systems and the connections between them and the control room. The simulations will be used for training and to ensure that all possible outcomes and complications are prepared for before the actual launch day. The code being tested is the Programmable Logic Controller Interface (PLCIF) code, the component responsible for transferring the information from the models to the model Programmable Logic Controllers (PLCs), basic computers that are used for very simple tasks.

Arm's Length Provision of Public Services

DEFF Research Database (Denmark)

Bennedsen, Morten; Schultz, Christian

We analyze the economic consequences of strategic delegation of the right to decide between public or private provision of governmental service and/or the authority to negotiate and renegotiate with the chosen service provider. Our model encompass both bureaucratic delegation from a government...... contracts. The bargaining effect improves the bargaining position vis a vis a private firm with market power and leads to a lower price for the service...

Product price control using game theory: A case study of a fish price in the state of Terengganu

Science.gov (United States)

Safiih, L. Muhamad; Afiq, R. Mohd Noor

2014-07-01

The increase in the price of goods is often a concern among the community. This is caused by factors that beyond of controlled such as a natural disaster, and others that cause the demand exceed the current supply. However, what is more concerning is the increase in price of goods due to the individual who raises the price in order to earn higher profits. Therefore, to overcome this problem, a method of price controls using Game Theory is considered. The Game Theory realizing a form of observational on the action and effects that occur by an individual or group to maximize the utilization under certain circumstances. The study was conducted on prices of 14 fish commodities in the state of Terengganu and also to see the cooperation effect between players of commodity prices. Data were analysed by using the software Gambit. The result shows that there is significant increase due to the influence of middlemen. The findings also shows that the price controls are applied at a set time, then it was applied to other times, prices are more stable and profitable returns to all parties can be maximized.

Brownian motion model with stochastic parameters for asset prices

Science.gov (United States)

Ching, Soo Huei; Hin, Pooi Ah

2013-09-01

The Brownian motion model may not be a completely realistic model for asset prices because in real asset prices the drift μ and volatility σ may change over time. Presently we consider a model in which the parameter x = (μ,σ) is such that its value x (t + Δt) at a short time Δt ahead of the present time t depends on the value of the asset price at time t + Δt as well as the present parameter value x(t) and m-1 other parameter values before time t via a conditional distribution. The Malaysian stock prices are used to compare the performance of the Brownian motion model with fixed parameter with that of the model with stochastic parameter.

A Seasoned Instructor's New Look at Fixed-Income Securities: An Exercise Using Discounted Bonds

Science.gov (United States)

Secrest, Thomas W.

2012-01-01

Having returned to teaching the basics of pricing fixed-income securities after several years, the author recalls the difficulty students have in understanding the total return provided by fixed-income securities that are purchased at either a discount or premium from face value. This teaching note attempts to clarify the concept by suggesting…

Setting Offer Prices by Housing Developers - Selected Issues in the Light of Literature Review

OpenAIRE

Dittmann Iwona

2015-01-01

This paper deals with selected theoretical issues pertaining to the setting of asking prices by housing developers. Determinants of the buyer’s and seller’s reservation prices have been identified. The advantages and disadvantages, in terms of behavioral economics, of the pricing strategies practiced by housing developers have been indicated. The strategy based on fixing an asking price roughly equal to the estimated market value of the property was compared with the strategy based on offerin...

Active and Adaptive Services Resource Provisioning with Personalized Customization

NARCIS (Netherlands)

Wen, B.; Luo, Z.; Liang, P.

2013-01-01

Software as a service(SaaS), we are moving to the age of service-oriented software engineering(SOSE). But for the goal of services computing, namely on-demand service, it has not been able to achieved by far, especially the active provisioning approach for services resource. In view of these facts

Alcohol Prices and Mortality Due to Liver Cirrhosis

Directory of Open Access Journals (Sweden)

Jon P. Nelson

2015-06-01

Full Text Available This study estimates a reduced-form regression model for mortality rates due to alcoholic liver diseases, with alcohol prices and income as explanatory variables. Panel data cover the years 2000-2010 for 21 member countries of the European Union. In the reduced form, prices affect mortality rates indirectly through the demand for alcohol, while income has potential direct and indirect effects. Country and time fixed effects are used to control for other factors that influence alcohol consumption and mortality. Special attention is paid to outliers in the data, and final results are based on the MS-estimator for robust regressions. Regression results for alcohol prices and income are sensitive to adjustments for stationary data and down-weighting of outliers and other influential data points. Final results indicate that alcohol prices do not affect mortality rates due to chronic liver diseases. Empirical results in the study do not lend support to broad price-based approaches to alcohol policy.

Fast food prices, obesity, and the minimum wage.

Science.gov (United States)

Cotti, Chad; Tefft, Nathan

2013-03-01

Recent proposals argue that a fast food tax may be an effective policy lever for reducing population weight. Although there is growing evidence for a negative association between fast food prices and weight among adolescents, less is known about adults. That any measured relationship to date is causal is unclear because there has been no attempt to separate variation in prices on the demand side from that on the supply side. We argue that the minimum wage is an exogenous source of variation in fast food prices, conditional on income and employment. In two-stage least-squares analyses, we find little evidence that fast food price changes affect adult BMI or obesity prevalence. Results are robust to including controls for area and time fixed effects, area time trends, demographic characteristics, substitute prices, numbers of establishments and employment in related industries, and other potentially related factors. Copyright © 2012 Elsevier B.V. All rights reserved.

THE MAIN QUESTION OF FIXED ASSETS

Directory of Open Access Journals (Sweden)

Kogan A. B.

2015-03-01

Full Text Available The article deals with the methods of selecting the best type of fixed assets (real investment. Explore the current situation where the investor has to compare the different-parametrical alternatives (DPA. The DPA are the fixed assets which have similar functions, but different in price, durability and periodic effects. In the general case the DPA are the investment projects which have different amounts of investment, accounting periods and net cash flow. Net present value (NPV and internal rate of return (IRR are criticized. The author describes his indicator «speed index of unit value increase» (IS. The author proves on numerical examples that the economy, the subjects of which use IS instead of NPV and IRR, has accelerated the pace of development.

The price of oil and the future of Middle East Gas

International Nuclear Information System (INIS)

Zaki Yamani, A.

1997-01-01

Most LNG contracts relate the LNG price received by the supplier at the point of delivery to a relevant oil price. Gas and oil are thus closely connected so that when the price of landed oil decreases so dose the price of delivered LNG. With large fixed transportation and liquefaction costs, accounting for around 85% of the supply cost of delivered LNG in the case of Qatari LNG supplied to japan, you can imagine how large falls in the price paid for delivered LNG would squeeze the net back to the producer back in Qatar. However, low oil price can do some damage to the economics of existing LNG projects in the Middle East. More importantly, persistently low oil prices can prevent new LNG projects from leaving the drawing board-which will stifle the exciting export potential of Middle Eastern gas

Information technologies in optimization process of monitoring of software and hardware status

Science.gov (United States)

Nikitin, P. V.; Savinov, A. N.; Bazhenov, R. I.; Ryabov, I. V.

2018-05-01

The article describes a model of a hardware and software monitoring system for a large company that provides customers with software as a service (SaaS solution) using information technology. The main functions of the monitoring system are: provision of up-todate data for analyzing the state of the IT infrastructure, rapid detection of the fault and its effective elimination. The main risks associated with the provision of these services are described; the comparative characteristics of the software are given; author's methods of monitoring the status of software and hardware are proposed.

48 CFR 52.227-19 - Commercial Computer Software License.

Science.gov (United States)

2010-10-01

... Software License. 52.227-19 Section 52.227-19 Federal Acquisition Regulations System FEDERAL ACQUISITION... Clauses 52.227-19 Commercial Computer Software License. As prescribed in 27.409(g), insert the following clause: Commercial Computer Software License (DEC 2007) (a) Notwithstanding any contrary provisions...

Pricing, hedging and risk management : practical tips for natural gas buyers and sellers

International Nuclear Information System (INIS)

Shields, D.

1998-01-01

Risk analysis and techniques to manage risk as it pertains to the natural gas industry were discussed. Portfolio allocations for long-term, short-term fixed price and variable price contracts were described. Options were defined as a market instrument offering the benefits of a fixed price purchase or sale without the obligation of incurring financial or opportunity losses if the market goes against the option buyer. Options should be used as a defence strategy to protect portfolios from price risk in times of uncertainty and to take advantage of current floating market conditions without making a full price commitment. Options can also be used as an offensive strategy to make a directional play on the market or on volatility. Options selling was regarded as a much higher risk than options buying. The variables that affect options premiums were: (1) volatility, (2) time to expiration, (3) underlying price versus strike price, and (4) flexibility. Williams Energy's new world class energy trading floor in Tulsa, Oklahoma was also described. Williams is the largest-volume transporter of natural gas in the U.S. with more than 27,000 miles of pipelines. Williams pipelines transport 16 per cent of all the natural gas used in the U.S. and the company is one of the nation's largest natural gas gatherers and processors. tabs., figs

Electricity pricing model in thermal generating stations under deregulation

International Nuclear Information System (INIS)

Reji, P.; Ashok, S.; Moideenkutty, K.M.

2007-01-01

In regulated public utilities with competitive power markets, deregulation has replaced the monopoly. Under the deregulated power market, the electricity price primarily depends on market mechanism and power demand. In this market, generators generally follow marginal pricing. Each generator fixes the electricity price based on their pricing strategy and it leads to more price volatility. This paper proposed a model to determine the electricity price considering all operational constraints of the plant and economic variables that influenced the price, for a thermal generating station under deregulation. The purpose of the model was to assist existing stations, investors in the power sector, regulatory authorities, transmission utilities, and new power generators in decision-making. The model could accommodate price volatility in the market and was based on performance incentive/penalty considering plant load factor, availability of the plant and peak/ off peak demand. The model was applied as a case study to a typical thermal utility in India to determine the electricity price. It was concluded that the case study of a thermal generating station in a deregulated environment showed that the electricity price mainly depended on the gross calorific value (GCV) of fuel, mode of operation, price of the fuel, and operating charges. 11 refs., 2 tabs., 1 fig

Political Economy and Irrigation Technology Adoption Implications of Water Pricing under Asymmetric Information

OpenAIRE

Dridi, Chokri; Khanna, Madhu

2005-01-01

We analyze the design of water pricing rules emerging from farmers' lobbying and their implications for the size of the lobby, water use, profits and social welfare. The lobbying groups are the adopters of modern irrigation technology and the non-adopters. The pricing rules are designed to meet budget balance of water provision; we considered (i) a two-part tariff composed of a mandatory per-acre fee plus a volumetric charge and (ii) a nonlinear pricing schedule. Our results show that under e...

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

Transfer pricing in Serbia: Facing a sobering reality

Directory of Open Access Journals (Sweden)

Kostić Svetislav V.

2017-01-01

Full Text Available This paper attempts to systematize the basic pillars of Serbian policy in the area of corporate income taxation of related party transactions (transfer pricing. The author looks at the very first Serbian transfer pricing legislation introduced in 1991 and follows its development through to the present. Principle focus is directed towards the policy drivers behind the 2012 and 2013 comprehensive reform of the Serbian transfer pricing provisions, which the author analyses with the added value of hindsight. Despite a generally positive view on what was achieved by the 2012 amendments to the Serbian transfer pricing legislation, the author offers a divergent view. A critical assessment is provided and the author stipulates the reasons which suggest that the respective amendments failed to meet desired goals in the area of transfer pricing set in 2012 and 2013. The author tries to deduce the lessons that should be taken into consideration in the future legislation reform initiatives and attempts to find alternative paths that should be taken in order to avoid repeating identical mistakes.

Analyzing the Risks Embedded in Option Prices with rndfittool

DEFF Research Database (Denmark)

Barletta, Andrea; Santucci de Magistris, Paolo

2018-01-01

This paper introduces a new computational tool for the analysis of the risks embedded in a set of prices of European-style options. The software enables the estimation of the risk-neutral density (RND) from the observed option prices by means of orthogonal polynomial expansions. Orthogonal...... polynomials offer a viable alternative to more standard techniques based on interpolation and estimation of the second-order derivatives of option prices. The app rndfittool is available on GitHub and its usage is illustrated with examples based on real data....

Cancer Drugs: An International Comparison of Postlicensing Price Inflation.

Science.gov (United States)

Savage, Philip; Mahmoud, Sarah; Patel, Yogin; Kantarjian, Hagop

2017-06-01

The cost of cancer drugs forms a rising proportion of health care budgets worldwide. A number of studies have examined international comparisons of initial cost, but there is little work on postlicensing price increases. To examine this, we compared cancer drug prices at initial sale and subsequent price inflation in the United States and United Kingdom and also reviewed relevant price control mechanisms. The 10 top-selling cancer drugs were selected, and their prices at initial launch and in 2015 were compared. Standard nondiscounted prices were obtained from the relevant annual copies of the RED BOOK and the British National Formulary. At initial marketing, prices were on average 42% higher in the United States than in the United Kingdom. After licensing in the United States, all 10 drugs had price rises averaging an overall annual 8.8% (range, 1.4% to 24.1%) increase. In comparison, in the United Kingdom, six drugs had unchanged prices, two had decreased prices, and two had modest price increases. The overall annual increase in the United Kingdom was 0.24%. Cancer drug prices are rising substantially, both at their initial marketing price and, in the United States, at postlicensing prices. In the United Kingdom, the Pharmaceutical Price Regulation Scheme, an agreement between the government and the pharmaceutical industry, controls health care costs while allowing a return on investment and funds for research. The increasing costs of cancer drugs are approaching the limits of sustainability, and a similar government-industry agreement may allow stability for both health care provision and the pharmaceutical industry in the United States.

Price signals and end consumer flexibility in shortage situations

International Nuclear Information System (INIS)

Hunnes, Arngrim; Grande, Ove S.

2002-08-01

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

The value of solar: Prices and output from distributed photovoltaic generation in South Australia

International Nuclear Information System (INIS)

Maine, Tony; Chapman, Paul

2007-01-01

The Australian government's Solar Cities Program sees great value in so-called 'cost-reflective pricing', code for valuing solar at pool prices. We test that proposition in South Australia where pool prices and insolation are often high and we show that there were few days in 2004 when the pool price gives better outcomes than if the solar is valued at the regulated and fixed, so-called standing contract price. We also find that the illustrative day used in the Solar Cities Program literature to promote the notion of cost-reflective pricing is highly atypical. Finally, we consider ways in which the incentive to install distributed photovoltaic generation might be improved

A methodology for quantitatively managing the bug fixing process using Mahalanobis Taguchi system

Directory of Open Access Journals (Sweden)

Boby John

2015-12-01

Full Text Available The controlling of bug fixing process during the system testing phase of software development life cycle is very important for fixing all the detected bugs within the scheduled time. The presence of open bugs often delays the release of the software or result in releasing the software with compromised functionalities. These can lead to customer dissatisfaction, cost overrun and eventually the loss of market share. In this paper, the authors propose a methodology to quantitatively manage the bug fixing process during system testing. The proposed methodology identifies the critical milestones in the system testing phase which differentiates the successful projects from the unsuccessful ones using Mahalanobis Taguchi system. Then a model is developed to predict whether a project is successful or not with the bug fix progress at critical milestones as control factors. Finally the model is used to control the bug fixing process. It is found that the performance of the proposed methodology using Mahalanobis Taguchi system is superior to the models developed using other multi-dimensional pattern recognition techniques. The proposed methodology also reduces the number of control points providing the managers with more options and flexibility to utilize the bug fixing resources across system testing phase. Moreover the methodology allows the mangers to carry out mid- course corrections to bring the bug fixing process back on track so that all the detected bugs can be fixed on time. The methodology is validated with eight new projects and the results are very encouraging.

Airborne and Maritime/Fixed Station Joint Tactical Radio System (AMF JTRS)

Science.gov (United States)

2015-12-01

Selected Acquisition Report (SAR) RCS: DD-A&T(Q&A)823-421 Airborne & Maritime/Fixed Station Joint Tactical Radio System (AMF JTRS) As of FY 2017...Information Program Name Airborne & Maritime/Fixed Station Joint Tactical Radio System (AMF JTRS) DoD Component Army Responsible Office References SAR...UNCLASSIFIED 5 Mission and Description Airborne & Maritime/Fixed Station Joint Tactical Radio System (AMF JTRS) products are software programmable

Cash dividends and futures prices on discontinuous filtrations

NARCIS (Netherlands)

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

We derive a general formula for the futures price process without the restriction that the assets used in the future margin account are continuous and of finite variation. To do so, we model tradeable securities with dividends which are not necessarily cash dividends at fixed times or continuously

Assessing the Army’s Software Patch Management Process

Science.gov (United States)

2016-03-04

software maker or to antivirus vendors (Zetter, 2014). Fixing such a vulnerability within the zero-day period requires teamwork across multiple...Assessing the Army’s Software Patch Management Process Benjamin Alan Pryor March 4, 2016 PUBLISHED...19 Commercial-Off-the-Shelf Software

Estimating the price elasticity of expenditure for prescription drugs in the presence of non-linear price schedules: an illustration from Quebec, Canada.

Science.gov (United States)

Contoyannis, Paul; Hurley, Jeremiah; Grootendorst, Paul; Jeon, Sung-Hee; Tamblyn, Robyn

2005-09-01

The price elasticity of demand for prescription drugs is a crucial parameter of interest in designing pharmaceutical benefit plans. Estimating the elasticity using micro-data, however, is challenging because insurance coverage that includes deductibles, co-insurance provisions and maximum expenditure limits create a non-linear price schedule, making price endogenous (a function of drug consumption). In this paper we exploit an exogenous change in cost-sharing within the Quebec (Canada) public Pharmacare program to estimate the price elasticity of expenditure for drugs using IV methods. This approach corrects for the endogeneity of price and incorporates the concept of a 'rational' consumer who factors into consumption decisions the price they expect to face at the margin given their expected needs. The IV method is adapted from an approach developed in the public finance literature used to estimate income responses to changes in tax schedules. The instrument is based on the price an individual would face under the new cost-sharing policy if their consumption remained at the pre-policy level. Our preferred specification leads to expenditure elasticities that are in the low range of previous estimates (between -0.12 and -0.16). Naïve OLS estimates are between 1 and 4 times these magnitudes. (c) 2005 John Wiley & Sons, Ltd.

Outpatient provider concentration and commercial colonoscopy prices.

Science.gov (United States)

Pozen, Alexis

2015-01-01

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

Consistent Valuation across Curves Using Pricing Kernels

Directory of Open Access Journals (Sweden)

Andrea Macrina

2018-03-01

Full Text Available The general problem of asset pricing when the discount rate differs from the rate at which an asset’s cash flows accrue is considered. A pricing kernel framework is used to model an economy that is segmented into distinct markets, each identified by a yield curve having its own market, credit and liquidity risk characteristics. The proposed framework precludes arbitrage within each market, while the definition of a curve-conversion factor process links all markets in a consistent arbitrage-free manner. A pricing formula is then derived, referred to as the across-curve pricing formula, which enables consistent valuation and hedging of financial instruments across curves (and markets. As a natural application, a consistent multi-curve framework is formulated for emerging and developed inter-bank swap markets, which highlights an important dual feature of the curve-conversion factor process. Given this multi-curve framework, existing multi-curve approaches based on HJM and rational pricing kernel models are recovered, reviewed and generalised and single-curve models extended. In another application, inflation-linked, currency-based and fixed-income hybrid securities are shown to be consistently valued using the across-curve valuation method.

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

Science.gov (United States)

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

2014-01-01

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

Comparative Analysis of the Use of Foreign Military Sales (FMS) and Direct Commercial Sales (DCS) in the Procurement of US Defense Articles by the Philippine Government for the Use of the Armed Forces of the Philippines

National Research Council Canada - National Science Library

Vera, Remegio

2004-01-01

.... Issues and considerations that influence selection decision are also discussed. DCS may offer the lowest fixed price, timely/earlier delivery, easier countertrade arrangements, and penalty for non-compliance to the provisions...

The provision of convenience and variety by the market

NARCIS (Netherlands)

Bronnenberg, B.J.J.A.M.

2015-01-01

Consumers commonly face purchasing costs, e.g., travel- or wait-time, that are fixed to quantity but increase with variety. This article investigates the impact of such costs on the demand and supply of variety. Purchasing costs limit demand for variety like prices limit demand for quantity. When

U.S. Air Force Spent Billions on F117 Engine Sustainment Without Knowing What a Fair Price Was

Science.gov (United States)

2016-03-11

7 Finding. Air Force Did Not Determine What a Fair and Reasonable Price Was for Sustaining its F117...requires a firm-fixed- price contract type and prohibits obtaining certified cost or pricing data14 to support the determination of a fair and...for Acquisition, Technology, and Logistics Memorandum, “Commercial Items and the Determination of Price for Commercial Items,” February 4, 2015. 16

Gold prices: Analyzing its cyclical behavior

Directory of Open Access Journals (Sweden)

Martha Gutiérrez

2013-07-01

Full Text Available Gold is a commodity that is seen as a safe haven when a financial crisis strikes, but when stock markets are prosperous, these are more attractive investment alternatives, and so the gold cycle goes on and on. The DJIA/GF (Dow Jones Industrial Average and Gold Fix ratio is chosen to establish the evolution of gold prices in relation to the NYSE. This paper has two goals: to prove that the DJIA/GF ratio is strongly cyclical by using Fourier analysis and to set a predictive neural networks model to forecast the behavior of this ratio during 2011-2020. To this end, business cycle events like the Great Depression along with the 1970s crisis, and the 1950s boom along with the world economic recovery of the 1990s are contrasted in light of the mentioned ratio. Gold prices are found to evolve cyclically with a dominant period of 37 years and are mainly affected by energy prices, financial markets and macroeconomic indicators.

Principles of Antifragile Software

OpenAIRE

Monperrus, Martin

2014-01-01

The goal of this paper is to study and define the concept of "antifragile software". For this, I start from Taleb's statement that antifragile systems love errors, and discuss whether traditional software dependability fits into this class. The answer is somewhat negative, although adaptive fault tolerance is antifragile: the system learns something when an error happens, and always imrpoves. Automatic runtime bug fixing is changing the code in response to errors, fault injection in productio...

Three essays on pricing and risk management in electricity markets

Science.gov (United States)

Kotsan, Serhiy

2005-07-01

A set of three papers forms this dissertation. In the first paper I analyze an electricity market that does not clear. The system operator satisfies fixed demand at a fixed price, and attempts to minimize "cost" as indicated by independent generators' supply bids. No equilibrium exists in this situation, and the operator lacks information sufficient to minimize actual cost. As a remedy, we propose a simple efficient tax mechanism. With the tax, Nash equilibrium bids still diverge from marginal cost but nonetheless provide sufficient information to minimize actual cost, regardless of the tax rate or number of generators. The second paper examines a price mechanism with one price assigned for each level of bundled real and reactive power. Equilibrium allocation under this pricing approach raises system efficiency via better allocation of the reactive power reserves, neglected in the traditional pricing approach. Pricing reactive power should be considered in the bundle with real power since its cost is highly dependent on real power output. The efficiency of pricing approach is shown in the general case, and tested on the 30-bus IEEE network with piecewise linear cost functions of the generators. Finally the third paper addresses the problem of optimal investment in generation based on mean-variance portfolio analysis. It is assumed the investor can freely create a portfolio of shares in generation located on buses of the electrical network. Investors are risk averse, and seek to minimize the variance of the weighted average Locational Marginal Price (LMP) in their portfolio, and to maximize its expected value. I conduct simulations using a standard IEEE 68-bus network that resembles the New York - New England system and calculate LMPs in accordance with the PJM methodology for a fully optimal AC power flow solution. Results indicate that the network topology is a crucial determinant of the investment decision as line congestion makes it difficult to deliver power to

Telecommunications Policy Research Conference. Subsidies in Telephone Pricing Section. Papers.

Science.gov (United States)

Telecommunications Policy Research Conference, Inc., Washington, DC.

Three papers consider the provision of telephone service to rural and/or low income customers. The first paper, "An Analysis of Telephone Penetration" (Alexander Belinfante), analyzes the relationship between telephone penetration (the proportion of households with phone service) and prices, household income, and other factors. This…

The Court of Justice of the European Union and Fixed-term Work

DEFF Research Database (Denmark)

de la Porte, Caroline; Emmenegger, Patrick

2017-01-01

permanent workers and aims to prevent abuse of this contract form. Surprisingly, the Court of Justice of the European Union (CJEU) rulings in this area have by and large been neglected in comparative labour market research. We fill this gap by systematically analysing the CJEU case law concerning fixed......While fixed-term work benefits employers and increases the prospects of employability of various categories of workers, it is inherently precarious. The European Union (EU) directive on fixed-term work emphasizes the importance of equal treatment of workers on fixed-term contracts with comparable...... show that the equal treatment is affirmed in all cases under analysis for different provisions of labour contracts. With regard to abuse of recourse to fixed-term contracts, by contrast, the rulings still represent a zone of legal uncertainty, whereby some judgments allow for fixed-term contracts...

Energy prices, equalization and federalism

International Nuclear Information System (INIS)

Courchene, T.J.

2005-01-01

A rise in oil prices over the last 30 years has shaped the debate on the equalization formula as well as the nature of fiscal federalism. The oil shocks of 1973 and 1979 contributed to the creation of the National Energy Program (NEP) in 1980 and the Energy Pricing and Taxation Agreement (EPTA) between Ottawa and Alberta in 1981. The current surge in oil prices, to recent highs of $70 a barrel has resulted in a new debate on energy pricing, equalization and fiscal frameworks. This article presented a review of the history of oil and federalism, and proposed a remedy to the horizontal fiscal imbalance by allocating the fixed equalization pool in accordance with fiscal capacity disparities relating to non-resource revenues. An interprovincial revenue-sharing pool was suggested for resource revenues, agreed to and operated by the provinces. It was suggested that after the price spike in 1973 in which the price of oil tripled, a key part of the rationale for imposing export taxes on oil equal to the difference between domestic and world prices was that the federal government could subsidize oil imports into eastern Canada and maintain a uniform domestic price across the country. By continuing to subsidize imports and maintaining a domestic price below the world price, the government has been diverting potential energy revenues from energy-rich provinces and transferring them directly to Canadians in terms of subsidized energy prices. It was noted that energy price surges cannot send equalization payments soaring as they did before because of the 2004 Framework Agreement, in which the overall equalization will be increased to $10.9 billion. A 2-tier approach to equalization was presented, in which it was suggested that the $10.9 billion pool should be allocated with fiscal capacity disparities relating to non-resource revenues. The creation of a revenue sharing pool for resource revenues was recommended. It was suggested that the 2 approaches will result in a strategic

Energy prices, equalization and federalism

Energy Technology Data Exchange (ETDEWEB)

Courchene, T.J. [Queen' s Univ., Kingston, ON (Canada). School of Policy Studies

2005-10-01

A rise in oil prices over the last 30 years has shaped the debate on the equalization formula as well as the nature of fiscal federalism. The oil shocks of 1973 and 1979 contributed to the creation of the National Energy Program (NEP) in 1980 and the Energy Pricing and Taxation Agreement (EPTA) between Ottawa and Alberta in 1981. The current surge in oil prices, to recent highs of $70 a barrel has resulted in a new debate on energy pricing, equalization and fiscal frameworks. This article presented a review of the history of oil and federalism, and proposed a remedy to the horizontal fiscal imbalance by allocating the fixed equalization pool in accordance with fiscal capacity disparities relating to non-resource revenues. An interprovincial revenue-sharing pool was suggested for resource revenues, agreed to and operated by the provinces. It was suggested that after the price spike in 1973 in which the price of oil tripled, a key part of the rationale for imposing export taxes on oil equal to the difference between domestic and world prices was that the federal government could subsidize oil imports into eastern Canada and maintain a uniform domestic price across the country. By continuing to subsidize imports and maintaining a domestic price below the world price, the government has been diverting potential energy revenues from energy-rich provinces and transferring them directly to Canadians in terms of subsidized energy prices. It was noted that energy price surges cannot send equalization payments soaring as they did before because of the 2004 Framework Agreement, in which the overall equalization will be increased to $10.9 billion. A 2-tier approach to equalization was presented, in which it was suggested that the $10.9 billion pool should be allocated with fiscal capacity disparities relating to non-resource revenues. The creation of a revenue sharing pool for resource revenues was recommended. It was suggested that the 2 approaches will result in a strategic

PARTICAL SWARM OPTIMIZATION OF TASK SCHEDULING IN CLOUD COMPUTING

OpenAIRE

Payal Jaglan*, Chander Diwakar

2016-01-01

Resource provisioning and pricing modeling in cloud computing makes it an inevitable technology both on developer and consumer end. Easy accessibility of software and freedom of hardware configuration increase its demand in IT industry. It’s ability to provide a user-friendly environment, software independence, quality, pricing index and easy accessibility of infrastructure via internet. Task scheduling plays an important role in cloud computing systems. Task scheduling in cloud computing mea...

Ownership, competition, and the adoption of new technologies and cost-saving practices in a fixed-price environment.

Science.gov (United States)

Hirth, R A; Chernew, M E; Orzol, S M

2000-01-01

Advances in medical technology have been implicated as the primary cause of rising health care expenditures. It is not yet known whether the increasing prevalence of managed care mechanisms, particularly capitation, will change substantially incentives for acquiring and using cost-increasing innovations. We examined the decisions of dialysis units (a set of providers that has faced capitation and real decreases in payment for several decades) with respect to use of cost-increasing technologies that enhance quality of care, cost-cutting practices that reduce quality of care, and amenities desired by patients that are unrelated to quality of care. We found that the dialysis payment system does not appear to have blocked access to a number of new, quality-enhancing technologies that were developed in the 1980s. However, facilities made adjustments along other valuable margins to facilitate adoption of these technologies; use of new technologies varied with numerous facility, regulatory, and case-mix characteristics including ownership, chain membership, size, market competition, and certificate of need programs. Interestingly, the trade-offs made by for-profit and nonprofit facilities when faced with fixed prices appeared quite different. For-profits tended to deliver lower technical quality of care but more amenities, while nonprofits favored technical quality of care over amenities. Our findings may have implications for the response of other types of health care providers to capitation and increasing economic constraints.

48 CFR 45.402 - Title to contractor-acquired property.

Science.gov (United States)

2010-10-01

... the contract. Under fixed-price type contracts, in the absence of financing provisions or other... item. If a deliverable item is to be retained by the contractor for use after inspection and acceptance...

Time variation in European carbon pass-through rates in electricity futures prices

International Nuclear Information System (INIS)

Huisman, Ronald; Kiliç, Mehtap

2015-01-01

The European Union Emissions Trading Scheme is a means to price emission allowances. Electricity market prices should reflect these market prices of emission allowances as they are a cost factor for power producers. The pass-through rate is the fraction of the emission allowance price that is passed through to electricity market prices. It is often measured and presented as an average or a fixed estimate over some time period. However, we expect that the pass-through rates should actually vary over time as electricity supply curves reflect the marginal costs of different producers that differ in emission intensity. We apply a Kalman Filter approach to observe pass-through rates in Germany and U.K. and find strong support for time varying instead of fixed pass-through rates. Although policy makers are interested in the impact of a policy on average, our results indicate that one needs to be careful with the time-frame over which pass-through rates are measured for policy evaluation, as an incorrect chosen evaluation period could cause an under- or overestimation of the pass-through rate. In addition, our model helps to provide policy makers with insight in the development of pass-through rates when market circumstances change with respect to power production. - Highlights: • We analyse the time-variation of the emission pass-through rate in power prices. • We examine historical futures prices for Germany and the U.K. • We test the hypothesis by using the Kalman Filter methodology. • Strong support is found that pass-through rates vary over time. • The chosen time-frame for pass-through rates is important for policy evaluation.

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

Science.gov (United States)

Bonakdar Tehrani, Ali; Carroll, Norman V

2017-08-01

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

Efficient Pricing of Derivatives on Assets with Discrete Dividends

NARCIS (Netherlands)

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

2006-01-01

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

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...

Bill project introducing a progressive price fixing of energy - Nr 150

International Nuclear Information System (INIS)

Brottes, Francois; Le Roux, Bruno

2012-01-01

This bill project aims at speeding up energy transition by inciting households to reduce their consumption, and at accompanying the unavoidable increase of energy prices. It introduces a rather complex process to establish the energy tariff, and notably a bonus-malus principle. The objective is to incite households to better insulate their main housing. It also takes social tariffs into account, defines institutions and representative for energy regulation, proposes the implementation of a public service for housing energy performance, and addresses the issue of energy supply in winter to households in precarious situation

Application of Neural Network Technologies for Price Forecasting in the Liberalized Electricity Market

Science.gov (United States)

Gerikh, Valentin; Kolosok, Irina; Kurbatsky, Victor; Tomin, Nikita

2009-01-01

The paper presents the results of experimental studies concerning calculation of electricity prices in different price zones in Russia and Europe. The calculations are based on the intelligent software "ANAPRO" that implements the approaches based on the modern methods of data analysis and artificial intelligence technologies.

Price Elasticity of Alcohol Demand in India.

Science.gov (United States)

Kumar, Santosh

2017-05-01

Using a household survey conducted in 2014, this study estimates price elasticity of demand (PED) for beer, country liquor and spirits in India. Ordinary least-square models were used to estimate the responsiveness in alcohol demand due to price change. A large number of control variables were included to adjust for potential confounding in the model. Inter-district variation in alcohol consumption is adjusted for by including district fixed effects. Alcohol prices are negatively associated with demand for alcoholic beverages. The PED ranged from -0.14 for spirits to -0.46 for country liquor. Low level of education was positively associated with spirits consumption. The magnitude of elasticity varied by rural-urban, education and gender. Results indicate that a policy mix of price controls and awareness campaigns would be most effective in tackling the adverse effects of harmful drinking in India. The demand for beer, country liquor and spirits is negatively associated with its own price. The elasticity estimates ranged from -0.14 for spirits to -0.44 for country liquor. The elasticity estimates varied by rural-urban, gender and by education levels of the drinkers. © The Author 2017. Medical Council on Alcohol and Oxford University Press. All rights reserved

The Impact of a City-Level Minimum-Wage Policy on Supermarket Food Prices in Seattle-King County.

Science.gov (United States)

Otten, Jennifer J; Buszkiewicz, James; Tang, Wesley; Aggarwal, Anju; Long, Mark; Vigdor, Jacob; Drewnowski, Adam

2017-09-09

Background : Many states and localities throughout the U.S. have adopted higher minimum wages. Higher labor costs among low-wage food system workers could result in higher food prices. Methods : Using a market basket of 106 foods, food prices were collected at affected chain supermarket stores in Seattle and same-chain unaffected stores in King County (n = 12 total, six per location). Prices were collected at 1 month pre- (March 2015) and 1-month post-policy enactment (May 2015), then again 1-year post-policy enactment (May 2016). Unpaired t-tests were used to detect price differences by location at fixed time while paired t-tests were used to detect price difference across time with fixed store chain. A multi-level, linear differences-in-differences model, was used to detect the changes in the average market basket item food prices over time across regions, overall and by food group. Results : There were no significant differences in overall market basket or item-level costs at one-month (-$0.01, SE = 0.05, p = 0.884) or one-year post-policy enactment (-$0.02, SE = 0.08, p = 0.772). No significant increases were observed by food group. Conclusions : There is no evidence of change in supermarket food prices by market basket or increase in prices by food group in response to the implementation of Seattle's minimum wage ordinance.

Optimal Software Strategies in the Presence of Network Externalities

Science.gov (United States)

Liu, Yipeng

2009-01-01

Network externalities or alternatively termed network effects are pervasive in computer software markets. While software vendors consider pricing strategies, they must also take into account the impact of network externalities on their sales. My main interest in this research is to describe a firm's strategies and behaviors in the presence of…

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

OpenAIRE

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

2015-01-01

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

Pricing and hedging of arithmetic Asian options via the Edgeworth series expansion approach

Directory of Open Access Journals (Sweden)

Weiping Li

2016-03-01

Full Text Available In this paper, we derive a pricing formula for arithmetic Asian options by using the Edgeworth series expansion. Our pricing formula consists of a Black-Scholes-Merton type formula and a finite sum with the estimation of the remainder term. Moreover, we present explicitly a method to compute each term in our pricing formula. The hedging formulas (greek letters for the arithmetic Asian options are obtained as well. Our formulas for the long lasting question on pricing and hedging arithmetic Asian options are easy to implement with enough accuracy. Our numerical illustration shows that the arithmetic Asian options worths less than the European options under the standard Black-Scholes assumptions, verifies theoretically that the volatility of the arithmetic average is less than the one of the underlying assets, and also discovers an interesting phenomena that the arithmetic Asian option for large fixed strikes such as stocks has higher volatility (elasticity than the plain European option. However, the elasticity of the arithmetic Asian options for small fixed strikes as trading in currencies and commodity products is much less than the elasticity of the plain European option. These findings are consistent with the ones from the hedgings with respect to the time to expiration, the strike, the present underlying asset price, the interest rate and the volatility.

How should fixed costs in the network be covered?

International Nuclear Information System (INIS)

1999-01-01

The report examines how tariffs that are only meant to cover costs in the transmission network should be formulated. Should the tariffs be based on power figures, such as for instance installed production capacity, or on an energy figure such as total annual energy production? Tariffs based on the producers' installed production capacity will in the long run cause the prises to rise under peak loads while tariffs based on generated energy elevate the consumer price by a small amount for all load segments. Thus, tariffs based on installed power capacity cause greater price distortion and greater socio-economic losses than energy tariffs. There are good arguments that fixed costs should mainly be paid by consumers with inelastic demand

Antitrust Enforcement Under Endogenous Fines and Price-Dependent Detection Probabilities

NARCIS (Netherlands)

Houba, H.E.D.; Motchenkova, E.; Wen, Q.

2010-01-01

We analyze the effectiveness of antitrust regulation in a repeated oligopoly model in which both fines and detection probabilities depend on the cartel price. Such fines are closer to actual guidelines than the commonly assumed fixed fines. Under a constant detection probability, we confirm the

Design of Hierarchical Ring Networks Using Branch-and-Price

DEFF Research Database (Denmark)

Thomadsen, Tommy; Stidsen, Thomas K.

2004-01-01

-ring is designed connecting the metro-rings, minimizing fixed link establishment costs of the federal-ring. A branch-and-price algorithm is presented for the design of the bottom layer and it is suggested that existing methods are used for the design of the federal-ring. Computational results are given...

Effect of food prices on the prevalence of obesity among young adults.

Science.gov (United States)

Han, E; Powell, L M

2011-03-01

To examine the extent to which various food prices were associated with the obesity status of young adults. Retrospective cohort study of 6537 men and 5324 women in the USA using panel data from the Monitoring the Future Surveys (1992-2003), which were merged with two food-at-home and one food-away-from-home price measures from the American Chamber of Commerce Researchers Association. Longitudinal individual random effect and fixed effect models were estimated. This study found that food prices did not have a significant effect on the prevalence of obesity among young female adults. For young adult men, an individual random effect estimator suggested that a 10% increase in the price of fast food was associated with a 13.2% decrease in the probability of obesity, but this effect lost its economic and statistical significance once individual fixed effects were controlled for in the estimation. Overall, the results imply that observed time-varying individual characteristics, such as working status, marital status and school enrolment status, may over-ride the effect of changes in food prices for young adults. More research employing longitudinal data is necessary to determine if food subsidies or taxes, particularly soft drink and fast food taxes or subsidies for fruit and vegetables, could be effective policy measures to curtail the increasing prevalence of obesity among young adults. Copyright © 2010 The Royal Society for Public Health. Published by Elsevier Ltd. All rights reserved.

Fixed and variable cost of automobiles

DEFF Research Database (Denmark)

Mulalic, Ismir; Rouwendal, Jan

costs of various quality aspects using an extensive Danish data set. We show that under suitable assumptions the marginal willingness to pay for quality aspects is a structural parameter of the consumer’s preference. We use our results to investigate this structural parameter and study its relationship......Recent empirical analyses have found strong reactions of car prices to changes in fuel costs. We develop a model of car quality choice to further investigate this relationship. We show that in the empirically relevant case quality characteristics increase fixed as well as variable costs, and our...

Do non-monetary prices target the poor? Evidence from a field experiment in India

OpenAIRE

Hoffmann, Bridget

2016-01-01

This paper uses willingness to pay (WTP) data from a field experiment in Hyderabad, India in 2013 to determine whether non-monetary prices better target health products to the poor than monetary prices. Monetary WTP is increasing in income and non-monetary WTP is weakly decreasing in income. Household fixed effects in a pooled sample of monetary WTP and non-monetary WTP are used to compare the correlation of income and WTP across price types. It is found that non-monetary WTP falls relative t...

Pricing of electricity tariffs in competitive markets

International Nuclear Information System (INIS)

Keppo, J.; Raesaenen, M.

1999-01-01

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

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.

A Note on R&D and Price Elasticity of Demand

DEFF Research Database (Denmark)

Schröder, Philipp J.H.; Schumacher, Dieter; Lucke, Dorothea

2005-01-01

This note explores the relationship between the price elasticity of demand and the R&D intensity of the product. We introduce the concept of R&D intensity into a standard Dixit-Stiglitz/Krugman-type setting. R&D activity is treated as a fixed cost of production. Within this framework, sectors...... with a higher R&D intensity show a lower price elasticity of demand. This proposition is confirmed by an empirical investigation of export demand for manufactured goods from major industrialised countries. Consequently, real exchange rate changes have an impact on the commodity structure of exports....

Provisioning in Agricultural Communities: Local, Regional and Global Cereal Prices and Local Production on Three Continents

Science.gov (United States)

Brown, Molly E.; Tondel, Fabien; Essam, Timothy; Thorne, Jennifer A.; Mann, Bristol F.; Eilerts, Gary

2012-01-01

Monitoring and incorporating diverse market and staple food information into food price indices is critical for food price analyses. Satellite remote sensing data and earth science models have an important role to play in improving humanitarian aid timing, delivery and distribution. Incorporating environmental observations into econometric models will improve food security analysis and understanding of market functioning.

Assessment of the impact of market regulation in Mali on the price of essential medicines provided through the private sector.

Science.gov (United States)

Maïga, Diadié; Williams-Jones, Bryn

2010-10-01

In 1998, the government of Mali adopted a national pharmaceutical policy aimed at promoting a supply system for generic essential medicines that would guarantee equal access for all citizens. Distribution and delivery is a shared responsibility of both public and private sectors (wholesalers and pharmacies). To influence private sector behaviour, the national policy uses a combination of government regulation and market forces. In 2006, the government issued a decree fixing maximum prices in the private sector for 107 prescription drugs from the national list of 426 essential medicines. The current study assessed the impact of this intervention on the evolution of market prices (wholesale and retail), and the subsequent availability and public access to essential medicines in Mali. A cross-sectional descriptive survey was conducted in February and May 2006, and January 2009, with 16 wholesalers and 30 private drugstores in Bamako, Mali. The overall availability of essential medicines at private wholesalers (p=1) and pharmacies (p=0.53) was identical before and after the enforcement of the 2006 decree fixing maximum drug prices. Contrary to concerns expressed by wholesalers and pharmacies, and the other stakeholders, the decree did not impact negatively on availability of essential medicines. In fact, median wholesale prices in 2009 were 25.6% less than those fixed by the decree. In private pharmacies, retail prices were only 3% more expensive than the recommended prices, compared with being 25.5% more expensive prior to enforcement of the decree. The study shows that prices of essential medicines in Mali have evolved favourably towards the prices recommended by the government decree. Further, the study contributes to mounting evidence that market regulation by governments does not necessarily negatively affect drug availability; in fact, given the reduction in prices, the study shows that Malians arguably have better access to more affordable essential medicines

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

Energy Technology Data Exchange (ETDEWEB)

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

2002-05-15

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

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

International Nuclear Information System (INIS)

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

2002-01-01

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

Agile distributed software development

DEFF Research Database (Denmark)

Persson, John Stouby; Mathiassen, Lars; Aaen, Ivan

2012-01-01

While face-to-face interaction is fundamental in agile software development, distributed environments must rely extensively on mediated interactions. Practicing agile principles in distributed environments therefore poses particular control challenges related to balancing fixed vs. evolving quality...... requirements and people vs. process-based collaboration. To investigate these challenges, we conducted an in-depth case study of a successful agile distributed software project with participants from a Russian firm and a Danish firm. Applying Kirsch’s elements of control framework, we offer an analysis of how...

Transfer Pricing Principles VAT/GST v. Direct Taxation

DEFF Research Database (Denmark)

Jensen, Dennis Ramsdahl

2009-01-01

Convention, [2] including an examination of whether it is appropriate to base transfer pricing rules on the same principles in the two different areas of tax law. [1] Council Directive 2006/112/EC of 28 November 2006 on the common system of value added tax, OJ L 347 of 11 December 2006, pp. 1-118 (EC VAT......In this paper the optional transfer pricing provisions in the EC VAT Directive [1] are subject to a more detailed analysis, with a view to considering them in the light of the well-known principles for transfer pricing in the area of income tax law, as set out in Art. 9 of the OECD Model Tax...... Directives are to be construed as references to the EC VAT Directive and should be read in accordance with the correlation table in Annex XII. [2] OECD Model Tax Convention on Income and on Capital (OECD Model Tax Convention)....

48 CFR 252.246-7001 - Warranty of data.

Science.gov (United States)

2010-10-01

... exceed ten percent of the total contract price. (ii) If the breach of the warranty is with respect to the..., DEPARTMENT OF DEFENSE CLAUSES AND FORMS SOLICITATION PROVISIONS AND CONTRACT CLAUSES Text of Provisions And... contract entitled, Rights in Technical Data and Computer Software. (b) Warranty. Notwithstanding inspection...

Buyer and seller data from pay what you want and name your own price laboratory markets.

Science.gov (United States)

Krämer, Florentin; Schmidt, Klaus M; Spann, Martin; Stich, Lucas

2017-06-01

Pay What You Want (PWYW) and Name Your Own Price (NYOP) are customer-driven pricing mechanisms that give customers (some) pricing power and that have been used in service industries with high fixed costs to price discriminate without setting a reference price. This paper describes buyer and seller data in a series of induced-value laboratory experiments that compare PWYW and NYOP in monopoly and competitive situations. Sellers are in a one-shot interaction with buyers. Sellers using customer-driven pricing mechanisms may exogenously or endogenously receive additional promotional benefits, for instance through word-of-mouth effects. The major findings based on the data presented here are reported in the paper "Delegating Pricing Power to Customers: Pay What You Want or Name Your Own Price?" (Krämer et al., 2017) [3].

Buyer and seller data from pay what you want and name your own price laboratory markets

Directory of Open Access Journals (Sweden)

Florentin Krämer

2017-06-01

Full Text Available Pay What You Want (PWYW and Name Your Own Price (NYOP are customer-driven pricing mechanisms that give customers (some pricing power and that have been used in service industries with high fixed costs to price discriminate without setting a reference price. This paper describes buyer and seller data in a series of induced-value laboratory experiments that compare PWYW and NYOP in monopoly and competitive situations. Sellers are in a one-shot interaction with buyers. Sellers using customer-driven pricing mechanisms may exogenously or endogenously receive additional promotional benefits, for instance through word-of-mouth effects. The major findings based on the data presented here are reported in the paper "Delegating Pricing Power to Customers: Pay What You Want or Name Your Own Price?" (Krämer et al., 2017 [3].

The reaction of private physicians to price deregulation in France.

Science.gov (United States)

Carrere, M O

1991-01-01

French private physicians are paid on a fee-for-service basis and nearly all of them are under contract to the Social Security, which refunds part of the medical fee to the whole population. Previously the prices of medical services were fixed, but since 1980, a new option has been possible: a doctor can choose to fix the price of his services freely, provided he pays a higher social insurance contribution. But the amount refunded by Social Security does not vary, so that the consumer has to bear the extra charge. Our purpose here is to identify the factors that influence the physician's option. In Section 2, we define a model of the private physician's economic behaviour, of the classic income-leisure type. In Section 3, empirical tests are performed on a sample of observations in 95 'départements', gathering information about private GPs on the one hand, and the whole population on the other. According to our results, GPs' decisions depend on characteristics of both supply of and demand for GPs' services. One of our conclusions is that GPs seem to make up for low activity levels with higher prices, on condition the income of their practice allows it.

Software as a service approach to sensor simulation software deployment

Science.gov (United States)

Webster, Steven; Miller, Gordon; Mayott, Gregory

2012-05-01

Traditionally, military simulation has been problem domain specific. Executing an exercise currently requires multiple simulation software providers to specialize, deploy, and configure their respective implementations, integrate the collection of software to achieve a specific system behavior, and then execute for the purpose at hand. This approach leads to rigid system integrations which require simulation expertise for each deployment due to changes in location, hardware, and software. Our alternative is Software as a Service (SaaS) predicated on the virtualization of Night Vision Electronic Sensors (NVESD) sensor simulations as an exemplary case. Management middleware elements layer self provisioning, configuration, and integration services onto the virtualized sensors to present a system of services at run time. Given an Infrastructure as a Service (IaaS) environment, enabled and managed system of simulations yields a durable SaaS delivery without requiring user simulation expertise. Persistent SaaS simulations would provide on demand availability to connected users, decrease integration costs and timelines, and benefit the domain community from immediate deployment of lessons learned.

Software structure for tritium-in-air monitoring in classified locations

International Nuclear Information System (INIS)

Ionete, Eusebiu Ilarian; Benchea, Dumitru

2009-01-01

Full text: In the working areas of heavy water detritiation facilities, were hydrogen gas is generated, the risk of air-hydrogen explosive mixture production is present. This paper gives the description of a software architecture solution for a fixed area tritium-in-air monitoring system suitable to be used in such hazardous locations. Tritium-in-air monitoring system was designed as a distributed system containing a number of fixed tritium in air monitoring units, each of them being composed of an ionisation chamber flow-through type and a fix sampling unit with a number of sample lines and one additional blow line. For each unit, software and hardware architecture structure enable independent performance with a fail-safe concept, remote control operation and data storage in a DCS-DCU module. This software architecture secures the setting possibility of alarm levels for tritium concentration, graphical visualisation and acoustic alarm in the case of level overtaking. The afferent software architecture contains applications in connection with hardware architecture and with a hydrogen detection system: RU-1 software application for control sampling; RU-2 software application for measured values display; RU-3 software application for remote data display; RU-4 software application for SQL conversion server; RU-5 software application for OPC standard conversion. The interconnection of all hardware components, between each PLC and each display unit, between tritium-in-air monitoring units and PLC sampling units will be internally carried out using interfaces. The interconnection between PLCs and tritium-in-air monitoring DCU will be made using a communication network, for instance Ethernet Profibus or RS 485. (authors)

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

International Nuclear Information System (INIS)

Park, Ju Young

2017-01-01

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

Fixed-Rate Compressed Floating-Point Arrays.

Science.gov (United States)

Lindstrom, Peter

2014-12-01

Current compression schemes for floating-point data commonly take fixed-precision values and compress them to a variable-length bit stream, complicating memory management and random access. We present a fixed-rate, near-lossless compression scheme that maps small blocks of 4(d) values in d dimensions to a fixed, user-specified number of bits per block, thereby allowing read and write random access to compressed floating-point data at block granularity. Our approach is inspired by fixed-rate texture compression methods widely adopted in graphics hardware, but has been tailored to the high dynamic range and precision demands of scientific applications. Our compressor is based on a new, lifted, orthogonal block transform and embedded coding, allowing each per-block bit stream to be truncated at any point if desired, thus facilitating bit rate selection using a single compression scheme. To avoid compression or decompression upon every data access, we employ a software write-back cache of uncompressed blocks. Our compressor has been designed with computational simplicity and speed in mind to allow for the possibility of a hardware implementation, and uses only a small number of fixed-point arithmetic operations per compressed value. We demonstrate the viability and benefits of lossy compression in several applications, including visualization, quantitative data analysis, and numerical simulation.

Regional Analysis of Aids and Prices for Small-scale Grid-connected Solar Photovoltaic Systems in Spain

International Nuclear Information System (INIS)

Varela, M.; Ramirez, L.; Mora, L.; Sidrach de Cardona, M.

2002-01-01

Electricity production from small solar photovoltaic systems in Spain obtains a premium pnce of 0,36 ε/kWh over the electricity market price or a fix price of 0,40 ε/kWh. The development of these small systems in Spain clearly demonstrates that the established prime is not sufficient in the majority of locations. On the other hand, the prime revision set up by the RD 2818/98, considering the profitability of the renewable installations, demand a regional analysis of small PV systems profitability necessary in Spain. The accomplished results permit to conclude that the amount of the current prime is by itself insufficient to make profitable the small grid-connected PV systems in anywhere of the national geography. To guarantee the profitability of these systems it should be necessary to place the fix price at around 0,93 ε/kWh. However, if the duplication of the current price obtained by these installations was considered, this could ensure the profitability of these small systems in at least the 77% of the land. (Author) 12 refs

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

48 CFR 852.236-82 - Payments under fixed-price construction contracts (without NAS).

Science.gov (United States)

2010-10-01

... manner; or (iv) Failure to comply in good faith with approved subcontracting plans, certifications, or... under other provisions of the contract or in accordance with the general law and regulations regarding... construction contracts (without NAS). 852.236-82 Section 852.236-82 Federal Acquisition Regulations System...

Floating-to-Fixed-Point Conversion for Digital Signal Processors

Directory of Open Access Journals (Sweden)

Menard Daniel

2006-01-01

Full Text Available Digital signal processing applications are specified with floating-point data types but they are usually implemented in embedded systems with fixed-point arithmetic to minimise cost and power consumption. Thus, methodologies which establish automatically the fixed-point specification are required to reduce the application time-to-market. In this paper, a new methodology for the floating-to-fixed point conversion is proposed for software implementations. The aim of our approach is to determine the fixed-point specification which minimises the code execution time for a given accuracy constraint. Compared to previous methodologies, our approach takes into account the DSP architecture to optimise the fixed-point formats and the floating-to-fixed-point conversion process is coupled with the code generation process. The fixed-point data types and the position of the scaling operations are optimised to reduce the code execution time. To evaluate the fixed-point computation accuracy, an analytical approach is used to reduce the optimisation time compared to the existing methods based on simulation. The methodology stages are described and several experiment results are presented to underline the efficiency of this approach.

Floating-to-Fixed-Point Conversion for Digital Signal Processors

Science.gov (United States)

Menard, Daniel; Chillet, Daniel; Sentieys, Olivier

2006-12-01

Digital signal processing applications are specified with floating-point data types but they are usually implemented in embedded systems with fixed-point arithmetic to minimise cost and power consumption. Thus, methodologies which establish automatically the fixed-point specification are required to reduce the application time-to-market. In this paper, a new methodology for the floating-to-fixed point conversion is proposed for software implementations. The aim of our approach is to determine the fixed-point specification which minimises the code execution time for a given accuracy constraint. Compared to previous methodologies, our approach takes into account the DSP architecture to optimise the fixed-point formats and the floating-to-fixed-point conversion process is coupled with the code generation process. The fixed-point data types and the position of the scaling operations are optimised to reduce the code execution time. To evaluate the fixed-point computation accuracy, an analytical approach is used to reduce the optimisation time compared to the existing methods based on simulation. The methodology stages are described and several experiment results are presented to underline the efficiency of this approach.

The impact of gasoline price fluctuations on lodging demand for US brand hotels

International Nuclear Information System (INIS)

Walsh, Kate; Enz, Cathy A.; Canina, Linda

2004-01-01

Analyzing US brand hotels, over a 13-year period, this study provides empirical evidence of a significant negative relationship between gasoline prices and demand for certain lodging products, controlling for economic factors (i.e. gross domestic product and population density). Applying principles from microeconomic demand theory to the literature on gasoline price elasticities, consumer demographics and lodging demand, a set of hypotheses were devised to test the relationship between gasoline prices and lodging demand for specific hotel locations and price segments. Using fixed effects models, the results reveal that lodging demand decreases as gasoline prices rise in all segments except upper-upscale and all locations except urban areas. Hotels in midscale without food and beverage and economy market segments, in resort, suburban and highway locations, exhibit the greatest association between gasoline price shifts and demand. Implications of these findings are discussed for both hospitality research and practice. (Author)

The impact of gasoline price fluctuations on lodging demand for US brand hotels

Energy Technology Data Exchange (ETDEWEB)

Walsh, Kate; Enz, Cathy A.; Canina, Linda [Cornell Univ., School of Hotel Administration, Ithaca, NY (United States)

2004-12-01

Analyzing US brand hotels, over a 13-year period, this study provides empirical evidence of a significant negative relationship between gasoline prices and demand for certain lodging products, controlling for economic factors (i.e. gross domestic product and population density). Applying principles from microeconomic demand theory to the literature on gasoline price elasticities, consumer demographics and lodging demand, a set of hypotheses were devised to test the relationship between gasoline prices and lodging demand for specific hotel locations and price segments. Using fixed effects models, the results reveal that lodging demand decreases as gasoline prices rise in all segments except upper-upscale and all locations except urban areas. Hotels in midscale without food and beverage and economy market segments, in resort, suburban and highway locations, exhibit the greatest association between gasoline price shifts and demand. Implications of these findings are discussed for both hospitality research and practice. (Author)

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

OpenAIRE

Hobbs, Jill E.; Kerr, William A.

2006-01-01

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

The danger of fixed drug combinations.

Science.gov (United States)

Herxheimer, H

1975-07-01

After the second world war a number of pharmaceutical firms which were not able to create new therapeutic substances by their own research, put a great number of fixed drug combinations on the market. Their number quickly increased, as the efficiency of these compounds required no legal proof and as, with appropriate propaganda, large profits could be earned. The number of firms doing this sort of production also increased, and in West Germany, for instance, more than 3/4 of all drugs on the official list are now fixed combinations. Our task is, therefore, to ask for regulations which limit fixed combinations to such preparation the efficiency of which has been shown and whose advantages more than outweigh their disadvantages. The advantages of these preparations are convenience to the patient, avoidance of potential mistakes made possible by too many drugs given on the same day and, perhaps, lower prices. The disadvantages are: 1. The individual optimum dose for a patient cannot be achieved, because in case of a change of dosis all components are changed. 2. Different components may have different duration of action. 3. Different components may have a different bioavailability. 4. Different components may interact. 5. Some components may create tolerance, others not. In many cases fixed combinations have been used to make drugs with poor efficiency financially viable by combining them with very efficient drugs. The existence of thousands of fixed combinations makes the drug market indiscernible and useless. They obscure the relatively few essential drugs and make it difficult for the doctor to find his way amongst the mass of offered medicaments. Few fixed combinations are justifiable. These are well known and they should be permitted as before. All others should be banned until it has been shown that their advantages are greater than their disadvantages.

Price Analysis of Railway Freight Transport under Marketing Mechanism

Science.gov (United States)

Shi, Ying; Fang, Xiaoping; Chen, Zhiya

Regarding the problems in the reform of the railway tariff system and the pricing of the transport, by means of assaying the influence of the price elasticity on the artifice used for price, this article proposed multiple regressive model which analyzed price elasticity quantitatively. This model conclude multi-factors which influences on the price elasticity, such as the averagely railway freight charge, the averagely freight haulage of proximate supersede transportation mode, the GDP per capita in the point of origin, and a series of dummy variable which can reflect the features of some productive and consume demesne. It can calculate the price elasticity of different classes in different domains, and predict the freight traffic volume on different rate levels. It can calculate confidence-level, and evaluate the relevance of each parameter to get rid of irrelevant or little relevant variables. It supplied a good theoretical basis for directing the pricing of transport enterprises in market economic conditions, which is suitable for railway freight, passenger traffic and other transportation manner as well. SPSS (Statistical Package for the Social Science) software was used to calculate and analysis the example. This article realized the calculation by HYFX system(Ministry of Railways fund).

Sex, price and preferences: accounting for unsafe sexual practices in prostitution markets.

Science.gov (United States)

Adriaenssens, Stef; Hendrickx, Jef

2012-06-01

Unsafe sexual practices are persistent in prostitution interactions: one in four contacts can be called unsafe. The determinants of this are still matter for debate. We account for the roles played by clients' preferences and the hypothetical price premium of unsafe sexual practices with the help of a large dataset of clients' self-reported commercial sexual transactions in Belgium and The Netherlands. Almost 25,000 reports were collected, representing the whole gamut of prostitution market segments. The first set of explanations consists of an analysis of the price-fixing elements of paid sex. With the help of the so-called hedonic pricing method we test for the existence of a price incentive for unsafe sex. In accordance with the results from studies in some prostitution markets in the developing world, the study replicates a significant wage penalty for condom use of an estimated 7.2 per cent, confirmed in both multilevel and fixed-effects regressions. The second part of the analysis reconstructs the demand side basis of this wage penalty: the consistent preference of clients of prostitution for unsafe sex. This study is the first to document empirically clients' preference for intercourse without a condom, with the help of a multilevel ordinal regression. © 2011 The Authors. Sociology of Health & Illness © 2011 Foundation for the Sociology of Health & Illness/Blackwell Publishing Ltd.

Price-Anderson Act: Congressional review begins

International Nuclear Information System (INIS)

Anon.

1984-01-01

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

Fuzzy pricing for urban water resources: model construction and application.

Science.gov (United States)

Zhao, Ranhang; Chen, Shouyu

2008-08-01

A rational water price system plays a crucial role in the optimal allocation of water resources. In this paper, a fuzzy pricing model for urban water resources is presented, which consists of a multi-criteria fuzzy evaluation model and a water resources price (WRP) computation model. Various factors affecting WRP are comprehensively evaluated with multiple levels and objectives in the multi-criteria fuzzy evaluation model, while the price vectors of water resources are constructed in the WRP computation model according to the definition of the bearing water price index, and then WRP is calculated. With the incorporation of an operator's knowledge, it considers iterative weights and subjective preference of operators for weight-assessment. The weights determined are more rational and the evaluation results are more realistic. Particularly, dual water supply is considered in the study. Different prices being fixed for water resources with different qualities conforms to the law of water resources value (WRV) itself. A high-quality groundwater price computation model is also proposed to provide optimal water allocation and to meet higher living standards. The developed model is applied in Jinan for evaluating its validity. The method presented in this paper offers some new directions in the research of WRP.

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...

On the Pricing of Step-Up Bonds in the European Telecom Sector

DEFF Research Database (Denmark)

Lando, David; Mortensen, Allan

This paper investigates the pricing of step-up bonds, i.e. corporatebonds with provisions stating that the coupon payments increase as thecredit rating level of the issuer declines. To assess the risk-neutral ratingtransition probabilities necessary to price these bonds, we introduce...... a newcalibration method within the reduced-form rating-based model of Jarrow,Lando, and Turnbull (1997). We also treat split ratings and adjust forrating outlook. Step-up bonds have been issued in large amounts in theEuropean telecom sector, and we find that, through most of the sample,step-up bonds issued...

Riding the Electricity Market as an Energy Management Strategy: Savings from Real-Time Pricing

Energy Technology Data Exchange (ETDEWEB)

Chiles, Thomas [U.S. General Services Administration, Washington, D.C. (United States); Shutika, Kenneth [U.S. General Services Administration, Washington, D.C. (United States); Coleman, Philip [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

2018-03-13

Dynamic pricing of electricity, in which retail prices facing customers are responsive to changes in the underlying wholesale markets, represents a step towards economic efficiency in that customers get exposed to some or all of the costs facing wholesale market players. But what do customers who opt for this greater exposure – available in the roughly 15 “de-regulated” states, as well as, to some extent, from some regulated utilities – get in return for their risks? The U.S. General Services Administration (GSA) took a retrospective eight-year look at what the savings would have been had they let the loads for which they purchase electricity in the Washington, DC area buy electricity on the real-time pricing (RTP) market – the dynamic pricing option with the highest risk – as opposed to the strategy they chose in actuality, which was fixing flat prices with 3rd-party providers. We found that opting for RTP for the eight years of the study (2005 through 2012) would have resulted in 17% savings, or almost a quarter of a billion dollars, relative to GSA’s actual prices from the 3rd-party suppliers. This is particularly astonishing given that GSA appeared to have timed the market well during the study period, consistently beating the standard offer products provided by the distribution utilities. The issue of budgetary predictability poses an obstacle for customers (especially government ones) considering RTP and, to a lesser extent, other dynamic pricing options. Indeed, GSA would have lost money with RTP in two of the eight years, one of them substantially. But the magnitude of the savings is indisputably compelling and, even if it may be somewhat aberrational due to high congestion in the DC market, begs consideration by large electricity users currently paying to “lock in” fixed flat prices.

Factors associated with the pricing of childhood vaccines in the U.S. public sector.

Science.gov (United States)

Chen, Weiwei; Messonnier, Mark; Zhou, Fangjun

2018-02-01

Vaccine purchase cost has grown substantially over the last few decades. A closer look at vaccine prices reveals that not all vaccines shared the same increasing pattern. Various factors, such as vaccine attributes, competition, and supply shortages, could relate to price changes. In this study, we examined whether a variety of factors influenced the prices of noninfluenza childhood vaccines purchased in the public sector from 1996 to 2014. The association differed among price-capped vaccines and combination vaccines. There was an increasing time trend in real prices for non-price-capped vaccines, which was mostly offset by the effect of market longevity. The effect of competition in lowering prices was more pronounced among non-price-capped vaccines when manufacturer and vaccine component fixed effects were excluded. Supply shortage, manufacturer name change, and number of vaccine doses in series showed no effect. The results may help policy makers better understand price behaviors and make more informed decisions in vaccine planning and financing. Copyright © 2017 John Wiley & Sons, Ltd.

Optimal provisioning strategies for slow moving spare parts with small lead times

NARCIS (Netherlands)

Teunter, R.H.; Klein Haneveld, W.K.

When an expensive piece of equipment is bought, spare parts can often be bought at a reduced price. A decision must be made about the initial provisioning of spare parts. Furthermore, if at a certain time the stock drops to zero, because a number of failures have occurred, a decision must be made

The uncertainty of marketing research in the formation of prices of production

Directory of Open Access Journals (Sweden)

S. A. Bagretsov

2017-01-01

Full Text Available The general conditions of formation of prices of products is obligatory accounting of all types of expenses. In the conditions of market relations, for each enterprise, the system of objective accounting of costs and management of costs necessary for production of products (services becomes especially important. The system of management accounting, on the one hand, allows for the accounting of production costs, and on the other – to analyze costs and assess their impact on the final result of the enterprise and the adoption of appropriate management decisions. Unlike the full cost costing system, the cost accounting system known in economic theory is based on separate accounting of fixed and variable costs, which allows to take into account the impact of fixed costs on pricing and profits from the sale of final output. On the basis of application of the device of fuzzy sets the technique of determination of rational, from the point of view of the producer, the price of production (services in the conditions of the available uncertainty of market researches and competitive advantages of the enterprise in the market of identical production is developed. In General, instrumental support of such approach to the determination of the product price is considered as a specialized information system to support the decision-making on the product price based on the results of market research. The market determined by this yield vector can be considered acceptable for the enterprise with a value of 0.55. At the same time, it may be accepted as unacceptable, but the level of clarity of assessment will be lower, namely 0.45. As you can see, the classification was quite blurred, which is a reflection of the fuzzy initial estimates of the proposed sales volumes for a certain price corridor.

The Court of Justice of the European Union and Fixed-term Workers

DEFF Research Database (Denmark)

de la Porte, Caroline; Emmenegger, Patrick

Fixed-term work benefits employers and increases the prospects of employability of various categories of workers, but it is inherently precarious with regard to dismissal protection and the risk of recurrent fixed-term contracts. Furthermore, workers on this type of contract are vulnerable also...... that the fixedterm work directive is used as an entry point to address the equal treatment of workers, and that it is the principle of anti-discrimination that provides the legal basis for judgements. Equal treatment is affirmed, in the cases analysed, in relation to different provisions of labour contracts...

Software Quality in the Trenches: Two Case Studies of Quality Assurance Practices in Free/Libre and Open Source Software (FLOSS)

OpenAIRE

Vestbø, Tor Arne

2007-01-01

When proponents of open source software are asked to explain the success of their movement they typically point to the quality of the software produced, which is in turn attributed to the rather unconventional development model of releasing unfinished versions of the software and having users look over the code and report and fix bugs. This thesis investigates the open source quality assurance model from a knowledge management perspective based on the assumption that debugging involves a h...

Joint energy and spinning reserve dispatching and pricing

International Nuclear Information System (INIS)

Rashidinejad, M.; Song, Y.-H.; Javidi Dasht-Bayaz, M.H.

2000-01-01

Unpredictable load demand variations, and also sudden generation interruption, may cause imbalance in power systems. To prevent any blackout and to reduce such total power imbalance, spinning reserve can provide electric power system ability to respond. Adequate amount of spinning reserve should be based on economy and risk as an optimal decision making. This paper uses Quadratic Programming (QP) method to solve Joint Energy and Spinning Reserve Dispatch (JESRD) problem and derives the optimal price of spinning reserve. In JESRD, Unserved Energy Cost (UEC) is considered as an Opportunity Cost of Spinning Reserve (OCSR). To distribute the System Reserve Requirements (SRR) among generation units, two different models, Fixed Reserve Percentage (FRP) or fixed allocation model and Non-Fixed Reserve Percentage (NFRP) or flexible allocation model has been investigated. Numerical results on a 5-bus test system and the 30-bus IEEE standard system, considering FRP and NFRP models are included. (author)

The impact of oil prices on the banking system in the Gulf Cooperation Council

Directory of Open Access Journals (Sweden)

Padamja Khandelwal

2017-06-01

Full Text Available This paper examines the links between global oil price movements and macroeconomic and financial developments in the Gulf Cooperation Council (GCC. The GCC economies can be adversely affected by low oil prices due to their high dependence on oil and gas exports and macro-financial linkages which can amplify the effects of oil price movements over the financial cycle. Historically, systemic financial sector risks rose in the GCC countries with the oil price upswing in the years before the global financial crisis. Against this background, a range of multivariate panel approaches, including a panel vector autoregression approach, were applied to macroeconomic and bank-level data covering the six GCC economies and span 1999–2014. The paper finds strong empirical evidence of feedback loops between oil price movements, bank balance sheets, and asset prices. Empirical evidence also suggests that bank capital and provisioning have behaved countercyclically through the cycle. That is, these ratios increase during good times. This has helped strengthen the resilience of the financial system to the oil price decline since mid-2014.

Future prices and market for SO2 allowances

International Nuclear Information System (INIS)

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

1993-01-01

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

Use of fixed income products within a company's portfolio

Directory of Open Access Journals (Sweden)

Vasile DEDU

2012-10-01

Full Text Available Financial instruments have been developed over time from bonds, with a simple structure of cash flows, to yielding instruments that have a complex structure, attracting a much broader range of investors and permitting issuers of bonds to allow reduce the costs of fund raising. To construct investment strategies to control interest rate risk and grow revenues, investors must understand the forcesthat controls the bond market but also the tendencies.The main objective of this paper is to show how they apply to an investment strategy and asset allocation tools available. Fixed income products occupy a large share in total assets, so we want to highlight how to use fixed income products in order to optimize the portfolio of companies. Working hypothesis we chose looks at how the value of financial assets is influenced by macroeconomic factors and market price developments. Investment banks, in particular, put great emphasis on fixed income products and their use by customers. Thus traditional banking and financial products together with fixed income products enables companies to finance current needs, to finance development and to diversify the asset allocation tools.

Binary Tree Pricing to Convertible Bonds with Credit Risk under Stochastic Interest Rates

Directory of Open Access Journals (Sweden)

Jianbo Huang

2013-01-01

Full Text Available The convertible bonds usually have multiple additional provisions that make their pricing problem more difficult than straight bonds and options. This paper uses the binary tree method to model the finance market. As the underlying stock prices and the interest rates are important to the convertible bonds, we describe their dynamic processes by different binary tree. Moreover, we consider the influence of the credit risks on the convertible bonds that is described by the default rate and the recovery rate; then the two-factor binary tree model involving the credit risk is established. On the basis of the theoretical analysis, we make numerical simulation and get the pricing results when the stock prices are CRR model and the interest rates follow the constant volatility and the time-varying volatility, respectively. This model can be extended to other financial derivative instruments.

Economics of public good provision: auditing, outsourcing, and bribery

OpenAIRE

Gervan Fearon

2009-01-01

This study investigates a government's contracting decision to audit or outsource the provision of a public good given a potential hidden bribe and information asymmetries. The key findings are the following. First, the bribe and price of the public good are increasing in the corruptibility of the department. Second, the bribe is decreasing in the firm's bargaining power. Third, a bribery equilibrium exists when the department's corruptibility is sufficiently high given the firm's bargaining ...

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

Science.gov (United States)

Brown, Timothy T; Robinson, James C

2016-06-01

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

Shared social responsibility: a field experiment in pay-what-you-want pricing and charitable giving.

Science.gov (United States)

Gneezy, Ayelet; Gneezy, Uri; Nelson, Leif D; Brown, Amber

2010-07-16

A field experiment (N = 113,047 participants) manipulated two factors in the sale of souvenir photos. First, some customers saw a traditional fixed price, whereas others could pay what they wanted (including $0). Second, approximately half of the customers saw a variation in which half of the revenue went to charity. At a standard fixed price, the charitable component only slightly increased demand, as similar studies have also found. However, when participants could pay what they wanted, the same charitable component created a treatment that was substantially more profitable. Switching from corporate social responsibility to what we term shared social responsibility works in part because customized contributions allow customers to directly express social welfare concerns through the purchasing of material goods.

Software product quality control

CERN Document Server

Wagner, Stefan

2013-01-01

Quality is not a fixed or universal property of software; it depends on the context and goals of its stakeholders. Hence, when you want to develop a high-quality software system, the first step must be a clear and precise specification of quality. Yet even if you get it right and complete, you can be sure that it will become invalid over time. So the only solution is continuous quality control: the steady and explicit evaluation of a product's properties with respect to its updated quality goals.This book guides you in setting up and running continuous quality control in your environment. Star

Software architecture analysis of usability

NARCIS (Netherlands)

Folmer, E; van Gurp, J; Bosch, J; Bastide, R; Palanque, P; Roth, J

2005-01-01

Studies of software engineering projects show that a large number of usability related change requests are made after its deployment. Fixing usability problems during the later stages of development often proves to be costly, since many of the necessary changes require changes to the system that

Petroleum products price regulation in Nov Scotia : a six-month review

International Nuclear Information System (INIS)

2007-03-01

Gasoline pricing regulation was introduced in July 2006 in order to achieve the following 3 main objectives: (1) stabilize prices by reducing the frequency of price changes and creating more uniform pricing across the province, (2) maintain industry infrastructure by slowing or halting the decline in the dealer network, particularly in rural areas, by improving viability through regulated margins, and (3) minimize the cost to consumers since higher prices are expected to result from the actions needed to maintain price stability and the higher margins needed to maintain industry infrastructure. This report examined the extent to which these objectives were achieved and contained the findings and recommendations of a review of the first six months of gasoline price regulation in Nova Scotia. The report discussed the rationale for regulation, study objectives, approach, and warning signs. It also discussed gasoline regulation in Nova Scotia including how regulation works and implementing regulation. The Nova Scotia gasoline market was presented with reference to industry structure; pre-regulation competition and pricing; and how regulation may affect structure and competition. Last, the report discussed whether regulation was meeting the objectives and perspectives on regulation. Several recommendations were presented, such as reducing the benchmark price adjustment period from two weeks to one week; removing the price cap on full-serve gasoline; adopting a fixed and transparent formula for forward averaging and applying it at each adjustment; and considering a framework for regulatory review. 12 refs., 15 figs

7 CFR 457.128 - Guaranteed production plan of fresh market tomato crop insurance provisions.

Science.gov (United States)

2010-01-01

... the insured crop directly to consumers without the intervention of an intermediary such as a... Special Provisions. The price election you choose for each type must have the same percentage relationship...: (A) Grown fresh market tomatoes for commercial sales; or (B) Participated in the management of a...

The Provision of Services, Interest Margins and Loan Pricing in European Banking

OpenAIRE

Lepetit , Laetitia; Nys , Emmanuelle; Rous , Philippe; Tarazi , Amine

2006-01-01

This paper assesses the implications on bank interest margins of the expansion into non- traditional fee-based activities in European banking. We use a sample of 602 European commercial and cooperative banks from 1996 to 2002 and consider the total income shares of trading income and commission and fee income as measures of product diversification to explore loan pricing. Our results show that a higher income share from commission and fee activities is associated with lower margins and lower ...

The Financial Indicators’ and Listed Company‘s Stock Price Link Determining the Value

Directory of Open Access Journals (Sweden)

Rima Tamošiūnienė

2016-06-01

Full Text Available The demand for value determination increased after rising of the Lithuanian economics. The joint-stock company value depends on the stock price and the company’s profit according to the “stock pricing for profit” method. The purpose of this scientific paper is the financial indicators’ and listed company’s stock price link determining the value. The analysis methods are: the research of scientific literature, data analysis, summarizing and graphic visualization. The link between financial indicators and the stock price is determined on the basis of correlation regression analysis. The analysis showed that listed on the stock exchange company’s stocks already have some value as they raise the capital. The research results revealed the stock price’s direct dependence on the fixed asset turnover and the debt-to-asset ratios.

A PDE Pricing Framework for Cross-Currency Interest Rate Derivatives with Target Redemption Features

Science.gov (United States)

Christara, Christina C.; Minh Dang, Duy; Jackson, Kenneth R.; Lakhany, Asif

2010-09-01

We propose a general framework for efficient pricing via a partial differential equation (PDE) approach for exotic cross-currency interest rate (IR) derivatives, with strong emphasis on long-dated foreign exchange (FX) IR hybrids, namely Power Reverse Dual Currency (PRDC) swaps with a FX Target Redemption (FX-TARN) provision. The FX-TARN provision provides a cap on the FX-linked PRDC coupon amounts, and once the accumulated coupon amount reaches this cap, the underlying PRDC swap terminates. Our PDE pricing framework is based on an auxiliary state variable to keep track of the total accumulated PRDC coupon amount. Finite differences on uniform grids and the Alternating Direction Implicit (ADI) method are used for the spatial and time discretizations, respectively, of the model-dependent PDE corresponding to each discretized value of the auxiliary variable. Numerical examples illustrating the convergence properties of the numerical methods are provided.

Ensemble Prediction Model with Expert Selection for Electricity Price Forecasting

Directory of Open Access Journals (Sweden)

Bijay Neupane

2017-01-01

Full Text Available Forecasting of electricity prices is important in deregulated electricity markets for all of the stakeholders: energy wholesalers, traders, retailers and consumers. Electricity price forecasting is an inherently difficult problem due to its special characteristic of dynamicity and non-stationarity. In this paper, we present a robust price forecasting mechanism that shows resilience towards the aggregate demand response effect and provides highly accurate forecasted electricity prices to the stakeholders in a dynamic environment. We employ an ensemble prediction model in which a group of different algorithms participates in forecasting 1-h ahead the price for each hour of a day. We propose two different strategies, namely, the Fixed Weight Method (FWM and the Varying Weight Method (VWM, for selecting each hour’s expert algorithm from the set of participating algorithms. In addition, we utilize a carefully engineered set of features selected from a pool of features extracted from the past electricity price data, weather data and calendar data. The proposed ensemble model offers better results than the Autoregressive Integrated Moving Average (ARIMA method, the Pattern Sequence-based Forecasting (PSF method and our previous work using Artificial Neural Networks (ANN alone on the datasets for New York, Australian and Spanish electricity markets.

Application of the Price-Volume Approach in Cases of Innovative Drugs Where Value-Based Pricing is Inadequate: Description of Real Experiences in Italy.

Science.gov (United States)

Messori, Andrea

2016-08-01

Several cases of expensive drugs designed for large patient populations (e.g. sofosbuvir) have raised a complex question in terms of drug pricing. Even assuming value-based pricing, the treatment with these drugs of all eligible patients would have an immense budgetary impact, which is unsustainable also for the richest countries. This raises the need to reduce the prices of these agents in comparison with those suggested by the value-based approach and to devise new pricing methods that can achieve this goal. The present study discusses in detail the following two methods: (i) The approach based on setting nation-wide budget thresholds for individual innovative agents in which a fixed proportion of the historical pharmaceutical expenditure represents the maximum budget attributable to an innovative treatment; (ii) The approach based on nation-wide price-volume agreements in which drug prices are progressively reduced as more patients receive the treatment. The first approach has been developed in the USA by the Institute for Clinical and Economic Review and has been applied to PCSK9 inhibitors (alirocumab and evolocumab). The second approach has been designed for the Italian market and has found a systematic application to manage the price of ranibizumab, sofosbuvir, and PCSK9 inhibitors. While, in the past, price-volume agreements have been applied only on an empirical basis (i.e. in the absence of any quantitative theoretical rule), more recently some explicit mathematical models have been described. The performance of these models is now being evaluated on the basis of the real-world experiences conducted in some European countries, especially Italy.

An alternative to the standard spatial econometric approaches in hedonic house price models

DEFF Research Database (Denmark)

von Graevenitz, Kathrine; Panduro, Toke Emil

2015-01-01

Omitted, misspecified, or mismeasured spatially varying characteristics are a cause for concern in hedonic house price models. Spatial econometrics or spatial fixed effects have become popular ways of addressing these concerns. We discuss the limitations of standard spatial approaches to hedonic...

OPTIONS FOR REPORTING OF DEPRECIATION OF FIXED BIOLOGICAL ASSETS ACCORDING TO IAS 41

Directory of Open Access Journals (Sweden)

Elena Georgieva

2016-06-01

Full Text Available An important element of the accounting policies of enterprises, operating in the agricultural sector, is the organization of accountability of fixed biological assets. With the recent changes in the provisions of International Accounting Standards, effective 01.01.2016, bearer plants were removed from the scope of IAS 41 Agriculture and included within the scope of IAS 16 Property, plant and equipment. The aim of the study is to analyze the impact of changes on the accounting policies of agricultural enterprises, in particular the assessment of fixed biological assets and capabilities for charging depreciation. An important aspect is the synchronization of accounting and tax legislation regarding possibilities for the recognition of depreciation of fixed biological assets.

Animal Diet Formulation with Floating Price

Directory of Open Access Journals (Sweden)

S.H Nasseri

2016-12-01

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

Cost Optimization Through Open Source Software

Directory of Open Access Journals (Sweden)

Mark VonFange

2010-12-01

Full Text Available The cost of information technology (IT as a percentage of overall operating and capital expenditures is growing as companies modernize their operations and as IT becomes an increasingly indispensable part of company resources. The price tag associated with IT infrastructure is a heavy one, and, in today's economy, companies need to look for ways to reduce overhead while maintaining quality operations and staying current with technology. With its advancements in availability, usability, functionality, choice, and power, free/libre open source software (F/LOSS provides a cost-effective means for the modern enterprise to streamline its operations. iXsystems wanted to quantify the benefits associated with the use of open source software at their company headquarters. This article is the outgrowth of our internal analysis of using open source software instead of commercial software in all aspects of company operations.

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

OpenAIRE

Ghose, Anindya; Sundararajan, Arun

2006-01-01

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

77 FR 75509 - Common Crop Insurance Regulations; Florida Citrus Fruit Crop Insurance Provisions

Science.gov (United States)

2012-12-21

... production sold, and the price. Acceptable fresh fruit sales records may include: Trip tickets, pack-out... acceptable fresh fruit sales records must be provided upon request from at least one of the previous three... provision in section 3(c) changes the deadline from sales closing date to acreage reporting date and would...

A Reference Architecture for Provisioning of Tools as a Service: Meta-Model, Ontologies and Design Elements

DEFF Research Database (Denmark)

Chauhan, Muhammad Aufeef; Babar, Muhammad Ali; Sheng, Quan Z.

2016-01-01

Software Architecture (SA) plays a critical role in designing, developing and evolving cloud-based platforms that can be used to provision different types of services to consumers on demand. In this paper, we present a Reference Architecture (RA) for designing cloud-based Tools as a service SPACE...... (TSPACE) for provisioning a bundled suite of tools by following the Software as a Service (SaaS) model. The reference architecture has been designed by leveraging information structuring approaches and by using well-known architecture design principles and patterns. The RA has been documented using view...

On the value and price-responsiveness of ramp-constrained storage

International Nuclear Information System (INIS)

Faghih, Ali; Roozbehani, Mardavij; Dahleh, Munther A.

2013-01-01

Highlights: • Derived the optimal policy and value function for ramp-constrained storage. • Gave analytic bound on long-term value, and explicit formulas for policy thresholds. • Value of storage saturates as capacity increases, regardless of price volatility. • In expectation, storage can induce high price elasticity near the mean price. • The buy/sell phase transition region in the price-state plane is steep. - Abstract: The primary concerns of this paper are twofold: understanding the value of storage in the presence of ramp constraints and exogenous energy prices, and understanding the implications of the associated optimal storage management policy for qualitative and quantitative characteristics of storage response to real-time prices. The optimal policy, along with the associated finite-horizon time-averaged value of storage, are analytically characterized in this paper. An analytical upper bound on the infinite-horizon time-averaged value of storage is also derived. This bound is valid for any achievable realization of prices when the support of the distribution is fixed, and highlights the dependence of the value of storage on ramp constraints and storage capacity. It is shown that while the value of storage is a non-decreasing function of price volatility, due to the finite ramp rate, the value of storage saturates quickly as the capacity increases, regardless of volatility. To study the implications of the optimal policy, computational experiments are presented that suggest optimal utilization of storage can, in expectation, induce a considerable amount of price elasticity near the average price. Then, a computational framework is presented for characterization of the behavior of storage as a function of price and the state of charge, which illustrates a steep buy/sell phase transition in the price-state plane

A two-level discount model for coordinating a decentralized supply chain considering stochastic price-sensitive demand

Science.gov (United States)

Heydari, Jafar; Norouzinasab, Yousef

2015-12-01

In this paper, a discount model is proposed to coordinate pricing and ordering decisions in a two-echelon supply chain (SC). Demand is stochastic and price sensitive while lead times are fixed. Decentralized decision making where downstream decides on selling price and order size is investigated. Then, joint pricing and ordering decisions are extracted where both members act as a single entity aim to maximize whole SC profit. Finally, a coordination mechanism based on quantity discount is proposed to coordinate both pricing and ordering decisions simultaneously. The proposed two-level discount policy can be characterized from two aspects: (1) marketing viewpoint: a retail price discount to increase the demand, and (2) operations management viewpoint: a wholesale price discount to induce the retailer to adjust its order quantity and selling price jointly. Results of numerical experiments demonstrate that the proposed policy is suitable to coordinate SC and improve the profitability of SC as well as all SC members in comparison with decentralized decision making.

Can Free Entry be Inefficient? Fixed Commissions and Social Waste in the Real Estate Industry

OpenAIRE

Chang-Tai Hsieh; Enrico Moretti

2002-01-01

Real estate agents in the US typically charge a 6 percent commission, regardless of the price of the house sold. As a consequence, the commission fee from selling a house will differ dramatically across cities depending on the average price of housing, although the effort necessary to match buyers and sellers may not be that different. We use a simple economic model and cross-city data to measure the effect of the fixed commission rate on market entry by real-estate agents. We show that if th...

Subsidised energy prices in France: TPN – Tarif de Première Nécessité (“basic needs” electricity price) and TSS – Tarif Spécial de Solidarité (special solidarity price for natural gas)

CERN Multimedia

2014-01-01

Some members of the CERN personnel residing in France have received a letter informing them that they are eligible for the “TPN” and/or “TSS” subsidised energy prices.   The Organization has contacted the French authorities and it seems that these subsidised energy prices, for which the eligibility criteria have recently been modified, are not applicable to members of the CERN personnel. The Organization therefore asks the members of the personnel concerned to call the freephone number (numéro vert)* given on the letter that they received to say that they do not wish to benefit from these subsidised energy prices. On this matter, the Organization would like to recall that most social benefits and subsidies are granted only when the financial means of the individual concerned are below fixed ceilings. This is generally not the case for members of the CERN personnel. For this reason, and notably in line with the Code of Conduct, the Organization...

Allocating Retirement Funds between TIAA and CREF: How Should Participants Choose Now between Fixed and Variable Annuities?

Science.gov (United States)

Malkiel, Burton G.

1979-01-01

The basic provisions of the TIAA-CREF retirement plans are outlined and the impact of inflation and falling stock prices on annuities and bonds are investigated. Major factors that should be considered when allocating contributions to TIAA-CREF funds are discussed. (SF)

Price elasticity and medication use: cost sharing across multiple clinical conditions.

Science.gov (United States)

Gatwood, Justin; Gibson, Teresa B; Chernew, Michael E; Farr, Amanda M; Vogtmann, Emily; Fendrick, A Mark

2014-11-01

To address the impact that out-of-pocket prices may have on medication use, it is vital to understand how the demand for medications may be affected when patients are faced with changes in the price to acquire treatment and how price responsiveness differs across medication classes.  To examine the impact of cost-sharing changes on the demand for 8 classes of prescription medications. This was a retrospective database analysis of 11,550,363 commercially insured enrollees within the 2005-2009 MarketScan Database. Patient cost sharing, expressed as a price index for each medication class, was the main explanatory variable to examine the price elasticity of demand. Negative binomial fixed effect models were estimated to examine medication fills. The elasticity estimates reflect how use changes over time as a function of changes in copayments. Model estimates revealed that price elasticity of demand ranged from -0.015 to -0.157 within the 8 categories of medications (P  less than  0.01 for 7 of 8 categories). The price elasticity of demand for smoking deterrents was largest (-0.157, P  less than  0.0001), while demand for antiplatelet agents was not responsive to price (P  greater than 0.05). The price elasticity of demand varied considerably by medication class, suggesting that the influence of cost sharing on medication use may be related to characteristics inherent to each medication class or underlying condition.

Adaptation of Black-Box Software Components

Directory of Open Access Journals (Sweden)

Rolf Andreas Rasenack

2008-01-01

Full Text Available The globalization of the software market leads to crucial problems for software companies. More competition between software companies arises and leads to the force on companies to develop ever newer software products in ever shortened time interval. Therefore the time to market for software systems is shortened and obviously the product life cycle is shortened too. Thus software companies shortened the time interval for research and development. Due to the fact of competition between software companies software products have to develop low-priced and this leads to a smaller return on investment. A big challenge for software companies is the use of an effective research and development process to have these problems under control. A way to control these problems can be the reuse of existing software components and adapt those software components to new functionality or accommodate mismatched interfaces. Complete redevelopment of software products is more expensive and time consuming than to develop software components. The approach introduced here presents novel technique together with a supportive environment that enables developers to cope with the adaptability of black-box software components. A supportive environment will be designed that checks the compatibility of black-box software components with the assistance of their specifications. Generated adapter software components can take over the part of adaptation and advance the functionality. Besides, a pool of software components can be used to compose an application to satisfy customer needs. Certainly this pool of software components consists of black-box software components and adapter software components which can be connected on demand.

THE IMPACT OF MARKETING EXPERIMENTS ON THE RELATIONSHIP BETWEEN SOFTWARE PRODUCERS AND THEIR RETAILERS

Directory of Open Access Journals (Sweden)

HERȚANU ANDREEA

2013-07-01

Full Text Available This paper presents the results of a marketing experiment done on the Romanian software market. The main purpose of this research is to determine how the marketing campaigns of software manufacturers can influence the decisions of software retailers. Through this marketing experimental research an evaluation and an analysis of the impact that marketing policies of software companies have on the retailers from all over the country is made. Three different marketing campaigns were proposed to three groups of software vendors from the most important cities of the country. The total number of software retailers included in this experiment is of 45, and the marketing campaigns proposed by the authors in this experiment refer to the Microsoft brand. Promotion strategies such as: sales promotion by encouraging sales force and promotional pricing or even the policy of partner relationship management have a great impact on three aspects regarding software retailers: loyalty, purchase and resale intention and attitude towards a brand. The results of the experiment show a high interest for the strategy of promotional pricing. The representatives of the software vendors have a positive orientation towards sales promotion by encouraging sales force. Regarding the influences of the manipulations used in the experiment, the greatest impact on the loyalty of the software vendors it has the strategy of promotional pricing. Also the policy of sales promotion by encouraging sales force has the biggest impact on the purchase and sale intention of the software retailers. All three manipulations have also an impact on the attitude towards a brand of the vendors, but the differences are too small to determine which of the proposed stimuli has a greater impact on this aspect. The results of the experiment may help and could have a great influence on the future marketing decisions of manufacturers regarding the strategies and marketing policies used on the Romanian

A model of market power in electricity industries subject to peak load pricing

International Nuclear Information System (INIS)

Arellano, Maria-Soledad; Serra, Pablo

2007-01-01

This paper studies the exercise of market power in price-regulated electricity industries under peak-load pricing and merit order dispatching, but where investment decisions are taken by independent generating companies. Within this context, we show that producers can exercise market power by under-investing in base-load capacity, compared to the welfare-maximizing configuration. We also show that when there is free entry with an exogenous fixed entry cost that is later sunk, more intense competition results in higher welfare but fewer firms. (author)

The Full Costs of Electricity Provision

International Nuclear Information System (INIS)

Horst Keppler, Jan; Rothwell, Geoffrey; Cometto, Marco; Deffrennes, Marc; Iracane, Daniel; Ha, Jaejoo; Paillere, Henri; ); Aspelund, Karl; Aydil, Ismail; ); Berthelemy, Michel; Devezeaux De Lavergne, Jean-Guy; Burtin, Alain; Crozat, Matthew P.; D'Haeseleer, William; Friedrich, Reiner; Gonzalez Jimenez, Antonio; Hirschberg, Stefan; Kiso, Jan-Ole; ); Lee, Manki; Le Masne, Dominique; ); Lundmark, Roger J.; Neumann, Doris; ); Politis, Savvas; ); Prin, Coralie; Skonieczny, Olgierd; Voss, Alfred

2018-01-01

Electricity provision touches upon every facet of life in OECD and non-OECD countries alike, and choosing how this electricity is generated - whether from fossil fuels, nuclear energy or renewables - affects not only economic outcomes but individual and social well-being in the broader sense. Research on the overall costs of electricity is an ongoing effort, as only certain costs of electricity provision are perceived directly by producers and consumers. Other costs, such as the health impacts of air pollution, damage from climate change or the effects on the electricity system of small-scale variable production are not reflected in market prices and thus diminish well-being in unaccounted for ways. Accounting for these social costs in order to establish the full costs of electricity provision is difficult, yet such costs are too important to be disregarded in the context of the energy transitions currently under way in OECD and NEA countries. This report draws on evidence from a large number of studies concerning the social costs of electricity and identifies proven instruments for internalising them so as to improve overall welfare. The results outlined in the report should lead to new and more comprehensive research on the full costs of electricity, which in turn would allow policy makers and the public to make better informed decisions along the path towards fully sustainable electricity systems

Evaluation of the Impact of Wind Generation on the Electricity Market Prices and on the Profitability of New Wind Investments

Science.gov (United States)

Pereira, A. J.; Saraiva, J. T.

2012-10-01

This paper describes a Dynamic Model of the electricity sector that can be used to simulate the evolution of some key variables on the long term, namely the evolution of the electricity price, of the demand and of the capacity factors of the technologies in the generation mix. This model can be used in different ways and by several agents, for instance to estimate the impact on the electricity price of the increasing presence of renewable power stations, namely using wind power and PV systems. In several countries these stations are paid feed-in tariffs with a fixed price but in some cases this scheme is under discussion and there are opinions that payments determined by the market price are more adequate and would bring fewer costs to final consumers. Such a change has to be carefully evaluated given that the presence of renewable stations bidding at an infra marginal price will affect the price itself. The model described in this paper can be used in a profitable way both by governmental agencies when preparing or studying alternative remuneration schemes to renewable stations or by promoters themselves to get more insight to the profitability of their investments, namely if the fixed feed-in tariffs in force in several countries are changed.

Evaluation of the Impact of Wind Generation on the Electricity Market Prices and on the Profitability of New Wind Investments

Directory of Open Access Journals (Sweden)

Saraiva J. T.

2012-10-01

Full Text Available This paper describes a Dynamic Model of the electricity sector that can be used to simulate the evolution of some key variables on the long term, namely the evolution of the electricity price, of the demand and of the capacity factors of the technologies in the generation mix. This model can be used in different ways and by several agents, for instance to estimate the impact on the electricity price of the increasing presence of renewable power stations, namely using wind power and PV systems. In several countries these stations are paid feed-in tariffs with a fixed price but in some cases this scheme is under discussion and there are opinions that payments determined by the market price are more adequate and would bring fewer costs to final consumers. Such a change has to be carefully evaluated given that the presence of renewable stations bidding at an infra marginal price will affect the price itself. The model described in this paper can be used in a profitable way both by governmental agencies when preparing or studying alternative remuneration schemes to renewable stations or by promoters themselves to get more insight to the profitability of their investments, namely if the fixed feed-in tariffs in force in several countries are changed.

ON PRICE CHOICE AT SELLING OF INFORMATION RESOURCES

Directory of Open Access Journals (Sweden)

O. S. Ivanova

2015-05-01

Full Text Available The paper considers the problem of the pricing policy determination in the company, selling information resource at the market. The problem of the optimal price determination for an information resource is solved depending on the time for the case when the seller-company has no competitors in the market, the market is saturated, and buyers are not able to further spread of the resource. Conditions for the optimal choice of information resource price have been obtained; the maximum possible income of the company has been calculated for linear demand function, and conditions, determining the duration and volume of sales, providing the maximum of average income of the company, have been obtained as well. The problem of optimal price choice is solved by macrosystem approach that has made it possible to reduce it to the isoperimetric kind. It is shown that the optimal price dependence on time for a linear demand function should provide a linearly increasing rate of sales. Conditions have been derived under which the sales proceedings for an information resource are positive, relationship is determined between volume of sales and timeline at which the average income during the sales reaches its maximum. The results are given in dimensionless form, thereby reducing the number of independent parameters. These results are usable for the pricing analysis of software and other information products.

Drug Pricing Program Ceiling Price and Manufacturer Civil Monetary Penalties Regulation. Final rule; further delay of effective date.

Science.gov (United States)

2017-09-29

The Health Resources and Services Administration (HRSA) administers section 340B of the Public Health Service Act (PHSA), known as the "340B Drug Pricing Program" or the "340B Program." HRSA published a final rule on January 5, 2017, that set forth the calculation of the ceiling price and application of civil monetary penalties. The final rule applied to all drug manufacturers that are required to make their drugs available to covered entities under the 340B Program. On August 21, 2017, HHS solicited comments on further delaying the effective date of the January 5, 2017, final rule to July 1, 2018 (82 FR 39553). HHS proposed this action to allow a more deliberate process of considering alternative and supplemental regulatory provisions and to allow for sufficient time for additional rulemaking. After consideration of the comments received on the proposed rule, HHS is delaying the effective date of the January 5, 2017, final rule, to July 1, 2018.

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

Gas prices and price process

International Nuclear Information System (INIS)

Groenewegen, G.G.

1992-01-01

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

Navy Shipbuilding: Need to Document Rationale for the Use of Fixed-Price Incentive Contracts and Study Effectiveness of Added Incentives

Science.gov (United States)

2017-03-01

share line and 120 percent ceiling price should be the norm , or starting point.8 The Director of Defense Pricing stated that he believes DOD’s...constructing nuclear submarines. We previously reported that this is in contrast to commercial ship buyers, who have an array of yards and suppliers to...overrun up until costs reached a specified point, with the government’s maximum liability capped at the ceiling price. Cost increases above target

Universal scaling and nonlinearity of aggregate price impact in financial markets

Science.gov (United States)

Patzelt, Felix; Bouchaud, Jean-Philippe

2018-01-01

How and why stock prices move is a centuries-old question still not answered conclusively. More recently, attention shifted to higher frequencies, where trades are processed piecewise across different time scales. Here we reveal that price impact has a universal nonlinear shape for trades aggregated on any intraday scale. Its shape varies little across instruments, but drastically different master curves are obtained for order-volume and -sign impact. The scaling is largely determined by the relevant Hurst exponents. We further show that extreme order-flow imbalance is not associated with large returns. To the contrary, it is observed when the price is pinned to a particular level. Prices move only when there is sufficient balance in the local order flow. In fact, the probability that a trade changes the midprice falls to zero with increasing (absolute) order-sign bias along an arc-shaped curve for all intraday scales. Our findings challenge the widespread assumption of linear aggregate impact. They imply that market dynamics on all intraday time scales are shaped by correlations and bilateral adaptation in the flows of liquidity provision and taking.

Comparison of Neural Networks and Regression Time Series in Estimating the Development of the Afternoon Price of Palladium on the New York Stock Exchange

Directory of Open Access Journals (Sweden)

Marek Vochozka

2017-12-01

Full Text Available Purpose of the article: Palladium is presently used for producing electronics, industrial products or jewellery, as well as products in the medical field. Its value is raised especially by its unique physical and chemical characteristics. Predicting the value of such a metal is not an easy matter (with regard to the fact that prices may change significantly in time. Methodology/methods: To carry out the analysis, London Fix Price PM data was used, i.e. amounts reported in the afternoon for a period longer than 10 years. To process the data, Statistica software is used. Linear regression is carried out using a whole range of functions, and subsequently regression via neural structures is performed, where several distributional functions are used again. Subsequently, 1000 neural networks are generated, out of which 5 proving the best characteristics are chosen. Scientific aim: The aim of the paper is to perform a regression analysis of the development of the palladium price on the New York Stock Exchange using neural structures and linear regression, then to compare the two methods and determine the more suitable one for a possible prediction of the future development of the palladium price on the New York Stock Exchange. Findings: Results are compared on the level of an expert perspective and the evaluator’s – economist’s experience. Within regression time lines, the curve obtained by the least squares methods via negative-exponential smoothing gets closest to Palladium price line development. Out of the neural networks, all 5 chosen networks prove to be the most practically useful. Conclusions: Because it is not possible to predict extraordinary situations and their impact on the palladium price (at most in the short term, but certainly not over a long period of time, simplification and the creation of a relatively simple model is appropriate and the result is useful.

The Elusive Cost of Library Software

Science.gov (United States)

Breeding, Marshall

2009-01-01

Software pricing is not a straightforward issue, since each procurement involves a special business arrangement between a library and its chosen vendor. The author thinks that it is reasonable to scale the cost of a product to such factors as the size of the library, the complexity of the installation, the number of simultaneous users, or the…

Optimal pricing and lot-sizing decisions under Weibull distribution deterioration and trade credit policy

Directory of Open Access Journals (Sweden)

Manna S.K.

2008-01-01

Full Text Available In this paper, we consider the problem of simultaneous determination of retail price and lot-size (RPLS under the assumption that the supplier offers a fixed credit period to the retailer. It is assumed that the item in stock deteriorates over time at a rate that follows a two-parameter Weibull distribution and that the price-dependent demand is represented by a constant-price-elasticity function of retail price. The RPLS decision model is developed and solved analytically. Results are illustrated with the help of a base example. Computational results show that the supplier earns more profits when the credit period is greater than the replenishment cycle length. Sensitivity analysis of the solution to changes in the value of input parameters of the base example is also discussed.

Joint Inventory, Pricing, and Advertising Decisions with Surplus and Stockout Loss Aversions

Directory of Open Access Journals (Sweden)

Bing-Bing Cao

2016-01-01

Full Text Available The newsvendor models considering decision-makers’ behavioral factors remain a fruitful research area in operation management field in past decade. In this paper, we further extend the current literatures to look into joint inventory, pricing, and advertising decisions considering loss aversion effects under the newsvendor setting. The purpose is to explore how the loss aversions affect the optimal policy of order quantity, price, and advertising effort level. We present an integrated utility model to measure both economic payoff and loss aversion utility of the newsvendor, where surplus loss aversion and stockout loss aversion are first separately defined and quantified. Then, we analyze the optimal solution conditions of the integrated model under exogenous and endogenous price cases, respectively. Under exogenous price case, we find that the uniquely optimal policy exists and is presented in the closed form. Under endogenous price case, the optimal policy is determined under mild conditions; we also provide the solutions when order quantity factor or advertising effort level is fixed in this case. In addition, the sensitivity analysis shows that the loss aversions affect the optimal decisions of order quantity, price, and advertising effort level in a systematic way.

Experimental demonstration of an OpenFlow based software-defined optical network employing packet, fixed and flexible DWDM grid technologies on an international multi-domain testbed.

Science.gov (United States)

Channegowda, M; Nejabati, R; Rashidi Fard, M; Peng, S; Amaya, N; Zervas, G; Simeonidou, D; Vilalta, R; Casellas, R; Martínez, R; Muñoz, R; Liu, L; Tsuritani, T; Morita, I; Autenrieth, A; Elbers, J P; Kostecki, P; Kaczmarek, P

2013-03-11

Software defined networking (SDN) and flexible grid optical transport technology are two key technologies that allow network operators to customize their infrastructure based on application requirements and therefore minimizing the extra capital and operational costs required for hosting new applications. In this paper, for the first time we report on design, implementation & demonstration of a novel OpenFlow based SDN unified control plane allowing seamless operation across heterogeneous state-of-the-art optical and packet transport domains. We verify and experimentally evaluate OpenFlow protocol extensions for flexible DWDM grid transport technology along with its integration with fixed DWDM grid and layer-2 packet switching.

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

Science.gov (United States)

Tsourougiannis, Dimitrios

2017-01-01

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

Understanding Trends in Wind Turbine Prices Over the Past Decade

Energy Technology Data Exchange (ETDEWEB)

Bolinger, Mark; Wiser, Ryan

2011-10-26

Taking a bottom-up approach, this report examines seven primary drivers of wind turbine prices in the United States, with the goal of estimating the degree to which each contributed to the doubling in turbine prices from 2002 through 2008, as well as the subsequent decline in prices through 2010 (our analysis does not extend into 2011 because several of these drivers are best gauged on a full-year basis due to seasonality issues). The first four of these drivers can be considered, at least to some degree, endogenous influences – i.e., those that are largely within the control of the wind industry – and include changes in: 1) Labor costs, which have historically risen during times of tight turbine supply; 2) Warranty provisions, which reflect technology performance and reliability, and are most often capitalized in turbine prices; 3) Turbine manufacturer profitability, which can impact turbine prices independently of costs; and 4) Turbine design, which for the purpose of this analysis is principally manifested through increased turbine size. The other three drivers analyzed in this study can be considered exogenous influences, in that they can impact wind turbine costs but fall mostly outside of the direct control of the wind industry. These exogenous drivers include changes in: 5) Raw materials prices, which affect the cost of inputs to the manufacturing process; 6) Energy prices, which impact the cost of manufacturing and transporting turbines; and 7) Foreign exchange rates, which can impact the dollar amount paid for turbines and components imported into the United States.

Using Combined SFTA and SFMECA Techniques for Space Critical Software

Science.gov (United States)

Nicodemos, F. G.; Lahoz, C. H. N.; Abdala, M. A. D.; Saotome, O.

2012-01-01

This work addresses the combined Software Fault Tree Analysis (SFTA) and Software Failure Modes, Effects and Criticality Analysis (SFMECA) techniques applied to space critical software of satellite launch vehicles. The combined approach is under research as part of the Verification and Validation (V&V) efforts to increase software dependability and as future application in other projects under development at Instituto de Aeronáutica e Espaço (IAE). The applicability of such approach was conducted on system software specification and applied to a case study based on the Brazilian Satellite Launcher (VLS). The main goal is to identify possible failure causes and obtain compensating provisions that lead to inclusion of new functional and non-functional system software requirements.

Short Reflections about the Transfer Pricing File

Directory of Open Access Journals (Sweden)

Florin TUDOR

2012-11-01

Full Text Available Substantive development of the international trade over the past 20 years, reflecting to some extent the degree of integration of national economies and technological progress, presents tax issues of increased complexity in the determination of income and expenses of a company or of a permanent establishment which is part of a multinational group and which must be approached within a jurisdiction. In principle, the specific the right of taxation of each state depends mostly on the tax system used by it: if it is a tax system based on tax residence, source of income, or both. In applying those principles in taxation of multinational companies, one of the most difficult problems encountered consists in establishing, for tax purposes, the appropriate transfer pricing. Taking into account the phenomenon of internationalization of the economic crimes, this paper aims treat uniform the subject in question, but with references to certain mandatory provisions contained in the OECD Guidelines regarding of the transfer pricing.

Price freezes, durables and residential electricity demand - Evidence from the Greater Buenos Aires

Energy Technology Data Exchange (ETDEWEB)

Casarin, Ariel; Delfino, Maria Eugenia

2010-09-15

This paper examines the determinants of residential electricity demand in the Greater Buenos Aires between 1997 and 2006. During the second half of this period, residential tariffs remained nominally fixed, while an income boom boosted up the sales of durables. This study differs from previous works in that it explicitly considers the impact of the stock of air-conditioners on residential demand. The paper reports short- and long-run elasticities and examines the contribution of prices and durables to recent demand growth. Simulations illustrate the impact of prices and durables on future demand.

Online Learning Software – Why Pay for It?

OpenAIRE

Jim FLOOD

2007-01-01

Numbers with pound signs in front and four noughts following them are quite usual for the basic price of e-learning software. In spite of the high cost of software and criticism of it, many organizations are still locking themselves into expensive contracts when there are freely available alternatives that can deliver most of the attributes of commercially available Learning Management Systems (LMS). Learning Management Systems were developed amid the dot com boom of the 90s and are typical o...

Pricing policies for a two-part exhaustible resource cartel: the case of OPEC (world oil project). Working paper

Energy Technology Data Exchange (ETDEWEB)

Hnyilicza, E.; Pindyck, R.S.

1976-04-01

This paper examines pricing policies for OPEC under the assumption that the cartel is composed of a block of spender countries with large cash needs and a block of saver countries with little immediate need for cash and a lower rate of discount. The decision problem for the two-part cartel is embodied in a game-theoretic framework and the optimal bargaining solution is computed using results from the theory of cooperative games developed by Nash. The set of feasible bargaining points--and the corresponding Nash solution--is computed under two assumptions on the behavior of output shares: that they are subject to choice and that they are fixed at historical values. The results suggest that for fixed output shares, there is little room for bargaining and the price path approximates the optimal monopoly price path. If the shares are subject to control, optimal paths depend significantly on the relative bargaining power of each block.

Software-Defined Radio Demonstrators: An Example and Future Trends

Directory of Open Access Journals (Sweden)

Ronan Farrell

2009-01-01

Full Text Available Software-defined radio requires the combination of software-based signal processing and the enabling hardware components. In this paper, we present an overview of the criteria for such platforms and the current state of development and future trends in this area. This paper will also provide details of a high-performance flexible radio platform called the maynooth adaptable radio system (MARS that was developed to explore the use of software-defined radio concepts in the provision of infrastructure elements in a telecommunications application, such as mobile phone basestations or multimedia broadcasters.

The integration of price/cost modelling and construction planning - the automated generation of construc­tion operation

Directory of Open Access Journals (Sweden)

P. A. Bowen

1997-07-01

Full Text Available The fact that traditional price/cost models are unrelated to the construction process renders them largely unsuited to the provision of meaningful price/cost advice. The nature and lengthiness of the construction planning process has precluded its incorporation into price/cost modelling during the pre-tender phase of the traditional building procurement process. The nub of the modelling problem has been how to integrate the complex process of construction planning into the pre-tender price/cost modelling process. In this paper the authors propose the synthesis of artificial intelligence techniques and construction planning techniques, resulting in a conceptual framework for a network-based cost modelling system for use by quantity surveyors in the cost modelling of buildings.

The European carbon market (2005-2007): banking, pricing and risk hedging strategies

International Nuclear Information System (INIS)

Chevallier, J.

2008-11-01

This thesis investigates the market rules of the European carbon market (EU ETS) during 2005-2007. We provide theoretical and empirical analyses of banking and borrowing provisions, price drivers and risk hedging strategies attached to tradable quotas, which were introduced to cover the CO 2 emissions of around 10,600 installations in Europe. In Chapter 1, we outline the economic and environmental effects of banking and borrowing on tradable permits markets. More specifically, we examine the banking and borrowing provisions adopted in the EU ETS, and the effects of banning banking between Phases I and II on CO 2 price changes. We show statistically that the low levels of CO 2 prices recorded until the end of Phase I may be explained by the restriction on the inter-period transfer of allowances, besides the main explanations that were identified by market observers. In Chapter 2, we identify the carbon price drivers since the launch of the EU ETS on January 1, 2005. We emphasize the central role played by the 2005 yearly compliance event imposed by the European Commission in revealing the net short/long position at the installation level in terms of allowances allocated with respect to verified emissions. The main result of this study features that price drivers of CO 2 allowances linked to energy market prices and unanticipated weather events vary around institutional events. Moreover, we show the influence of the variation of industrial production in three sectors covered by the EU ETS on CO 2 price changes by applying a disentangling analysis, that has also been extended at the country-level. In Chapter 3, we focus on the risk hedging strategies linked to holding CO 2 allowances. By using a methodology applied on stock markets, we recover the changes in investors' average risk aversion. This study shows that, during the time period considered, risk aversion has been higher on the carbon market than on the stock market, and that the risk is linked to an increasing

Zygomatic implant-retained fixed complete denture for an elderly patient.

Science.gov (United States)

Baig, Mirza Rustum; Rajan, Gunaseelan; Yunus, Norsiah

2012-06-01

Dental rehabilitation of a completely edentulous geriatric patient has always been a challenge to the clinician, especially in treating those with higher expectations and demands. Treatment duration and the amount of residual alveolar bone available are often important considerations when planning for dental implant-based fixed treatment for these patients. With the introduction of zygomatic implants, a graftless alternative solution has emerged for deficient maxillary bone with provision for immediate loading. This article describes the treatment of a completely edentulous elderly patient using zygomatic implants in conjunction with conventional implants. The implants were immediately loaded using a definitive acrylic resin fixed denture reinforced with a cast metal framework, to provide function and aesthetics. © 2011 The Gerodontology Society and John Wiley & Sons A/S.

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

Science.gov (United States)

Gassler, Robert Scott

1985-01-01

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

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

Self-Contained Cross-Cutting Pipeline Software Architecture

OpenAIRE

Patwardhan, Amol; Patwardhan, Rahul; Vartak, Sumalini

2016-01-01

Layered software architecture contains several intra-layer and inter-layer dependencies. Each layer depends on shared components making it difficult to release a code change, bug fix or feature without exhaustive testing and having to build the entire software code base. This paper proposed self-contained, cross-cutting pipeline architecture (SCPA) that is independent of existing layers. We chose 2 open source projects and 3 internal intern projects that used n-tier architecture and applied t...

Intrinsic Motivation in Open Source Software Development

DEFF Research Database (Denmark)

Bitzer, J.; W., Schrettl,; Schröder, Philipp

2004-01-01

This papers sheds light on the puzzling evidence that even though open source software (OSS) is a public good, it is developed for free by highly qualified, young and motivated individuals, and evolves at a rapid pace. We show that once OSS development is understood as the private provision...

The validity of using ROC software for analysing visual grading characteristics data: an investigation based on the novel software VGC analyzer

International Nuclear Information System (INIS)

Hansson, Jonny; Maansson, Lars Gunnar; Baath, Magnus

2016-01-01

The purpose of the present work was to investigate the validity of using single-reader-adapted receiver operating characteristics (ROC) software for analysis of visual grading characteristics (VGC) data. VGC data from four published VGC studies on optimisation of X-ray examinations, previously analysed using ROCFIT, were reanalysed using a recently developed software dedicated to VGC analysis (VGC Analyzer), and the outcomes [the mean and 95 % confidence interval (CI) of the area under the VGC curve (AUC VGC ) and the p-value] were compared. The studies included both paired and non-paired data and were reanalysed both for the fixed-reader and the random-reader situations. The results showed good agreement between the softwares for the mean AUC VGC . For non-paired data, wider CIs were obtained with VGC Analyzer than previously reported, whereas for paired data, the previously reported CIs were similar or even broader. Similar observations were made for the p-values. The results indicate that the use of single-reader-adapted ROC software such as ROCFIT for analysing non-paired VGC data may lead to an increased risk of committing Type I errors, especially in the random-reader situation. On the other hand, the use of ROC software for analysis of paired VGC data may lead to an increased risk of committing Type II errors, especially in the fixed-reader situation. (authors)

Spatial behavior of prices in the Russian Federation in 2003–2012

Directory of Open Access Journals (Sweden)

Anna Vladimirovna Stupnikova

2014-07-01

Full Text Available The heterogeneity of economic development and specifics of the spatial position of regions implies that the regional markets in the country are characterized by varying degrees and trends of price dynamics. The multidirectional and disproportionate changes in the prices in the regional markets, in turn, show that integration in the national market is poor. The work presents the results of research into the spatial behavior of prices in the Russian Federation in 2003–2012, carried out mainly using the descriptive analysis of consumer prices based on the identification of the measures of dispersion of price indicators – standard deviation and the range of variation. The analysis of consumer price indices dynamics shows that the year 2008 is a period of greatest price growth, and also proves that the prices for services and foodstuffs are subject to the highest fluctuations. The analysis of the prices for the fixed set of goods and services shows that consumer prices in the Russian Federation subjects during the analyzed period changed unevenly; however, beginning from 2009 there is a positive trend of reducing fluctuations in their growth rates. The assessment of the spatial dynamics of consumer prices in Russia in 2003–2012 reveals the regions that deviate from the general trend of price behavior to the greatest extent. Judging by the results of the assessment, the greatest differences in prices were observed in the subjects of the Far Eastern Federal District (FEFD. Another important fact is as follows: the high volatility of food prices was observed not only in the remote regions, but also in the neighboring subjects of the Far Eastern Federal District; it allows us to assume that the integration of the food market of the border regions of the district at the national level is poor

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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

Science.gov (United States)

2010-01-01

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

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. ...

Comparative Analysis of Discovery Function of Cotton Future Price among Different Regions——A Case Study of Xinjiang

Institute of Scientific and Technical Information of China (English)

2011-01-01

Through comparative analysis, We research the relationship between cotton future price and cotton spot price in different regions, in order to formulate corresponding strategies in different regions under the new situation. We use ADF unit root test, E-G two-step cointegration test, Granger causality test, and other research methods in Eviews 5.0 statistical software, to empirically study the relationship between the cotton future price and cotton spot price in Xinjiang, the relationship between the cotton future price and cotton spot price in China. The results show that there is a long-term relationship between the cotton future price and cotton spot price in Xinjiang, between the cotton future price and cotton spot price in China; the cotton future price plays unidirectional role in guiding cotton spot price in Xinjiang and cotton spot price in China. The discovery function of cotton future price plays much greater role in the cotton market of China than in the cotton market of Xinjiang.

Understanding wind turbine price trends in the U.S. over the past decade

International Nuclear Information System (INIS)

Bolinger, Mark; Wiser, Ryan

2012-01-01

On a $/kW basis, wind turbine prices in the U.S. have declined by nearly one-third on average since 2008, after having previously doubled over the period from 2002 through 2008. These two substantial and opposing trends over the past decade – and particularly the earlier price doubling – run counter to the smooth, gradually declining cost trajectories predicted by standard learning curve theory. Taking a bottom-up approach, we examine seven possible drivers of wind turbine prices in the U.S., with the goal of estimating the degree to which each contributed to the doubling in turbine prices from 2002 through 2008, as well as the subsequent decline in prices through 2010. In aggregate, these seven drivers – which include changes in labor costs, warranty provisions, manufacturer profitability, turbine scaling, raw materials prices, energy prices, and foreign exchange rates – explain from 70% to 90% (depending on the year) of empirically observed wind turbine price movements in the U.S. through 2010. Turbine scaling is found to have been the largest single contributor to the price doubling through 2008, although the incremental cost of scaling has been justified by greater energy capture, resulting in a lower cost of wind generation. - Highlights: ► Having doubled from 2002 to 2008, wind turbine prices have since fallen by one-third. ► We analyze seven potential drivers of wind turbine prices over the past decade. ► Turbine scaling has had the largest influence, followed by weakness in the dollar. ► Changes in the price of energy inputs had the smallest impact.

Financial instrument pricing using C++

CERN Document Server

Duffy, Daniel J

2004-01-01

One of the best languages for the development of financial engineering and instrument pricing applications is C++. This book has several features that allow developers to write robust, flexible and extensible software systems. The book is an ANSI/ISO standard, fully object-oriented and interfaces with many third-party applications. It has support for templates and generic programming, massive reusability using templates (?write once?) and support for legacy C applications. In this book, author Daniel J. Duffy brings C++ to the next level by applying it to the design and implementation of class

A Reusable and Adaptable Software Architecture for Embedded Space Flight System: The Core Flight Software System (CFS)

Science.gov (United States)

Wilmot, Jonathan

2005-01-01

The contents include the following: High availability. Hardware is in harsh environment. Flight processor (constraints) very widely due to power and weight constraints. Software must be remotely modifiable and still operate while changes are being made. Many custom one of kind interfaces for one of a kind missions. Sustaining engineering. Price of failure is high, tens to hundreds of millions of dollars.

The impact of oil price on additions to US proven reserves

International Nuclear Information System (INIS)

Farzin, Y.H.

2001-01-01

Departing from Hotelling's assumption of fixed and known reserves, this paper develops an economic model of additions to proven reserves that explicitly incorporates the effects of expected resource price, cumulative reserves development, and technological progress on reserve additions. The model treats additions to proven oil reserves as output of a production process in which drilling wells is a primary input to transform some of oil-in-place into the economic category of proven reserves. Application of the model to US data for the 1950-1995 period provides strong statistical support for the existence of all the three salient effects. We obtain an estimate of the price elasticity of reserve additions (absent from previous studies) which, although statistically highly significant, is rather small. Using this price elasticity estimate, it is shown that if in the face of steady economic growth, and hence, oil consumption, US oil import dependence is to be kept from rising in the future, ceteris paribus, a steady oil price increase in the range of 1.5-4.5% a year is essential

Fully Employing Software Inspections Data

Science.gov (United States)

Shull, Forrest; Feldmann, Raimund L.; Seaman, Carolyn; Regardie, Myrna; Godfrey, Sally

2009-01-01

Software inspections provide a proven approach to quality assurance for software products of all kinds, including requirements, design, code, test plans, among others. Common to all inspections is the aim of finding and fixing defects as early as possible, and thereby providing cost savings by minimizing the amount of rework necessary later in the lifecycle. Measurement data, such as the number and type of found defects and the effort spent by the inspection team, provide not only direct feedback about the software product to the project team but are also valuable for process improvement activities. In this paper, we discuss NASA's use of software inspections and the rich set of data that has resulted. In particular, we present results from analysis of inspection data that illustrate the benefits of fully utilizing that data for process improvement at several levels. Examining such data across multiple inspections or projects allows team members to monitor and trigger cross project improvements. Such improvements may focus on the software development processes of the whole organization as well as improvements to the applied inspection process itself.

Applying Activity Based Costing (ABC) Method to Calculate Cost Price in Hospital and Remedy Services.

Science.gov (United States)

Rajabi, A; Dabiri, A

2012-01-01

Activity Based Costing (ABC) is one of the new methods began appearing as a costing methodology in the 1990's. It calculates cost price by determining the usage of resources. In this study, ABC method was used for calculating cost price of remedial services in hospitals. To apply ABC method, Shahid Faghihi Hospital was selected. First, hospital units were divided into three main departments: administrative, diagnostic, and hospitalized. Second, activity centers were defined by the activity analysis method. Third, costs of administrative activity centers were allocated into diagnostic and operational departments based on the cost driver. Finally, with regard to the usage of cost objectives from services of activity centers, the cost price of medical services was calculated. The cost price from ABC method significantly differs from tariff method. In addition, high amount of indirect costs in the hospital indicates that capacities of resources are not used properly. Cost price of remedial services with tariff method is not properly calculated when compared with ABC method. ABC calculates cost price by applying suitable mechanisms but tariff method is based on the fixed price. In addition, ABC represents useful information about the amount and combination of cost price services.

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 ...

Design of movable fixed area γ dose rate monitor

International Nuclear Information System (INIS)

Li Dongyu; Cheng Wen; Li Jikai; Huang Hong; Shen Qiming; Zhang Qiang; Liu Zhengshan

2005-10-01

Movable fixed area γ dose rate monitor has not only the characteristics of fixed area γ dose rate monitor, but that of portable meter as well. Its main function is to monitor the areas where dose rate would change without orderliness to prevent unplanned radiation exposure accidents from happening. The design way of the monitor, the main indicators description, the working principle and the comprising of software and hardware are briefly introduced. The monitor has the characteristics of simple installation, easy maintenance, little power consumption, wide range, notability of visual and audible alarm and so on. Its design and technique have novelty and advancement. (authors)

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...

Estimating the Parameters of Software Reliability Growth Models Using the Grey Wolf Optimization Algorithm

OpenAIRE

Alaa F. Sheta; Amal Abdel-Raouf

2016-01-01

In this age of technology, building quality software is essential to competing in the business market. One of the major principles required for any quality and business software product for value fulfillment is reliability. Estimating software reliability early during the software development life cycle saves time and money as it prevents spending larger sums fixing a defective software product after deployment. The Software Reliability Growth Model (SRGM) can be used to predict the number of...

Using Priced Options to Solve the Exposure Problem in Sequential Auctions

Science.gov (United States)

Mous, Lonneke; Robu, Valentin; La Poutré, Han

This paper studies the benefits of using priced options for solving the exposure problem that bidders with valuation synergies face when participating in multiple, sequential auctions. We consider a model in which complementary-valued items are auctioned sequentially by different sellers, who have the choice of either selling their good directly or through a priced option, after fixing its exercise price. We analyze this model from a decision-theoretic perspective and we show, for a setting where the competition is formed by local bidders, that using options can increase the expected profit for both buyers and sellers. Furthermore, we derive the equations that provide minimum and maximum bounds between which a synergy buyer's bids should fall in order for both sides to have an incentive to use the options mechanism. Next, we perform an experimental analysis of a market in which multiple synergy bidders are active simultaneously.

Is youth smoking responsive to cigarette prices? Evidence from low- and middle-income countries.

Science.gov (United States)

Kostova, Deliana; Ross, Hana; Blecher, Evan; Markowitz, Sara

2011-11-01

To estimate the price elasticity of cigarette demand among youth in low- and middle-income countries (LMIC). The Global Youth Tobacco Survey was used to obtain data on the smoking behaviour of 315,353 adolescents from 17 LMIC. Two-part model of cigarette demand with country fixed effects. The first part estimates the impact of prices on smoking participation while the second part estimates the impact of prices on the number of cigarettes smoked among current smokers. Besides controlling for individual characteristics such as Age, Gender, Parental Smoking and availability of Pocket Money, the authors control for confounding environmental factors such as anti-smoking sentiment, the prevalence of cigarette advertising and anti-tobacco media messAges, and ease of purchasing cigarettes. All countries in this study are represented with at least two observations over time, which allows us to control for unobserved country characteristics and/or policies that may influence smoking patterns within countries. Cigarette price is an important determinant of smoking. The estimated price elasticity of smoking participation is -0.74, and the estimated price elasticity of conditional cigarette demand is approximately -1.37. The total price elasticity of cigarette demand is -2.11, implying that an increase in price of 10% would reduce youth cigarette consumption by 21.1% at the mean.

List prices vs. bargain prices: which solution to estimate consumer price indices?

OpenAIRE

Carlo De Gregorio

2010-01-01

Alternative approaches to CPI surveys are here evaluated, in markets where final prices are based on some sort of price listing. Three types of surveys are compared: local surveys (LOC), with small samples and a local price collection; list price surveys (LIS), with huge samples and centralised collection; mixed surveys (MXD), in which LOC and LIS are jointly used. Based on a multiplicative pricing model, some conditions are derived to establish the relative efficiency of these approaches. Th...

Optimal stochastic energy management of retailer based on selling price determination under smart grid environment in the presence of demand response program

International Nuclear Information System (INIS)

Nojavan, Sayyad; Zare, Kazem; Mohammadi-Ivatloo, Behnam

2017-01-01

Highlights: • Stochastic energy management of retailer under smart grid environment is proposed. • Optimal selling price is determined in the smart grid environment. • Fixed, time-of-use and real-time pricing are determined for selling to customers. • Charge/discharge of ESS is determined to increase the expected profit of retailer. • Demand response program is proposed to increase the expected profit of retailer. - Abstract: In this paper, bilateral contracting and selling price determination problems for an electricity retailer in the smart grid environment under uncertainties have been considered. Multiple energy procurement sources containing pool market (PM), bilateral contracts (BCs), distributed generation (DG) units, renewable energy sources (photovoltaic (PV) system and wind turbine (WT)) and energy storage system (ESS) as well as demand response program (DRP) as virtual generation unit are considered. The scenario-based stochastic framework is used for uncertainty modeling of pool market prices, client group demand and variable climate condition containing temperature, irradiation and wind speed. In the proposed model, the selling price is determined and compared by the retailer in the smart grid in three cases containing fixed pricing, time-of-use (TOU) pricing and real-time pricing (RTP). It is shown that the selling price determination based on RTP by the retailer leads to higher expected profit. Furthermore, demand response program (DRP) has been implemented to flatten the load profile to minimize the cost for end-user customers as well as increasing the retailer profit. To validate the proposed model, three case studies are used and the results are compared.

The effect of proportional v. value pricing on fountain drink purchases: results from a field experiment.

Science.gov (United States)

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

2018-05-15

Reducing sugar-sweetened beverage consumption is a public health priority, yet finding an effective and acceptable policy intervention is challenging. One strategy is to use proportional pricing (a consistent price per fluid ounce) instead of the typical value-priced approach where large beverages offer better value. The purpose of the present study was to evaluate whether proportional pricing affects the purchasing of fountain beverages at a university cinema concession stand. Four price strategies for beverages were evaluated over ten weekends of film screenings. We manipulated two factors: the price structure (value pricing v. proportional pricing) and the provision of information about the price per fluid ounce (labels v. no labels). The key outcomes were the number and size of beverages purchased. We analysed data using regression analyses, with standard errors clustered by film and controlling for the day and time of purchase. A university cinema concession stand in Minnesota, USA, in spring 2015. University students. Over the study period (360 beverages purchased) there were no significant effects of the proportional pricing treatment. Pairing a label with the standard value pricing increased the likelihood of purchasing large drinks but the label did not affect purchasing when paired with proportional pricing. Proportional prices did not significantly affect the size of beverages purchased by students at a university cinema, but adding a price-per-ounce label increased large drink purchases when drinks were value-priced. More work is needed to address whether pricing and labelling strategies might promote healthier beverage purchases.

Hydro power projects in Pakistan- who pays the price

International Nuclear Information System (INIS)

Baig, N.

2005-01-01

In this paper an attempt has been made to trace the procedures that have been adopted to arrive at the market value of the assets lost in the construction of Ghazi Barotha Hydro Power Project. There is nothing secret or mysterious about the value of land. It is a commodity commonly dealt with and like every other commodity it. has a price, which can be ascertained within certain limits. This price, however, constantly varies according to the variations of the supply and demand and it is impossible to fix it at any given time with mathematical accuracy. The question of fair compensation is not an algebraic problem, which would be solved by an abstract formula. Compensation must be determined by reference to the price, which a willing vendor might reasonably expect to obtain from a willing purchaser. Although market value cannot be calculated with mathematical precision and a certain amount of conjecture is inevitable, but in valuing one should be careful not to go too far in this direction. (author)

Study on Stochastic Optimal Electric Power Procurement Strategies with Uncertain Market Prices

Science.gov (United States)

Sakchai, Siripatanakulkhajorn; Saisho, Yuichi; Fujii, Yasumasa; Yamaji, Kenji

The player in deregulated electricity markets can be categorized into three groups of GENCO (Generator Companies), TRNASCO (Transmission Companies), DISCO (Distribution Companies). This research focuses on the role of Distribution Companies, which purchase electricity from market at randomly fluctuating prices, and provide it to their customers at given fixed prices. Therefore Distribution companies have to take the risk stemming from price fluctuation of electricity instead of the customers. This entails the necessity to develop a certain method to make an optimal strategy for electricity procurement. In such a circumstance, this research has the purpose for proposing the mathematical method based on stochastic dynamic programming to evaluate the value of a long-term bilateral contract of electricity trade, and also a project of combination of the bilateral contract and power generation with their own generators for procuring electric power in deregulated market.

From tariffs to prices

International Nuclear Information System (INIS)

Baena, D. Eduardo Martin

1998-01-01

It looks like that all over the World things are changing. Many countries, Spain among them, where electricity regulations were usual, are changing their regulatory mainframe. Since January 1, 1998, electricity production is a deregulated activity in Spain. There has to be open market competition. Prices that are very important for the time coming, have to cover the production cost plus some profits in order to maintain the company profitability. This cultural change applies to all our production facilities, including nuclear power plants. Taking into account this new situation and the nuclear competitiveness, it is important for all of us to understand this issue. As it is well known, nuclear energy is capital intensive, that means it has to compete as base load units due to their low operating costs and their large capital ones. For that reason it is important to reduce as much as possible the operating and maintenance cost as well as the fuel one, which will allow nuclear plants to compete in marginal costs with others units. Nuclear energy, in Spain, is not going to fix the pool price but it has to recover some depreciation through it, the remaining being recovered by the recognition of an important part of the stranded cost. (author)

What would be the effects of a carbon tax in Japan: an historic analysis of subsidies and fuel pricing on the iron & steel, chemical, and machinery industries

Directory of Open Access Journals (Sweden)

Takako Wakiyama

2016-06-01

Full Text Available This study examines how a carbon tax could affect industrial-related carbon dioxide (CO2 emissions in Japan. Rather than forecasting the effects of a tax, the paper employs a time-series autoregressive moving average (ARMA model to determine how past subsidies and fuel price changes affected investments in energy and carbon intensity in Japan’s iron & steel, chemical, and machinery industries from 1993 to 2004. The results suggest the impacts varied greatly across industries. In the iron & steel industry, subsidies and price changes produced negligible effects on investments in energy and carbon intensity. This may be because existing iron & steel technologies have long lifetimes and substantial replacement costs. It may also be because the few large companies dominating the industry were relatively immune to subsidy provisions and pricing changes. In the chemical industry, subsidies and fuel prices gave rise to investments that improved carbon and energy intensity. This may be because the industry has relatively higher operation costs that could be cut easily given financial incentives. In the machinery industry, two of three fuel price changes (oil and gas, but not subsidy provisions, yielded improvements in carbon and energy intensity. This may reflect the heterogeneity of companies and products comprising the industry. Overall, the study underscores that policymakers need to tailor the rates and revenue recycling provisions of a carbon tax to an industry’s unique features to stimulate CO2 reductions.

What Progress on the Idea of a Carbon Price-Signal?

International Nuclear Information System (INIS)

Grandjean, Alain; Martini, Mireille

2017-01-01

In December 2015, the world's leading countries signed an agreement in Paris that committed them to action to reduce greenhouse gas emissions, so as to limit the scale of current global warming. If this is to be done, action is required to improve energy efficiency, but also to genuinely 'de-carbonize' production systems. Now, as Alain Grandjean and Mireille Martini emphasize here, the transition to a de-carbonized economy has very little chance of coming about as long as there are no costs attached to emitting greenhouse gases. Hence the importance of establishing a carbon 'price-signal' that encourages countries to redesign their economic model. After rehearsing the various conceivable arrangements for taxing carbon and the way its price might be set, Grandjean and Martini look more specifically at France, Europe and the European emissions-trading market. They show how that market is still imperfect in its operation and stress the need for complementary provisions. Lastly, they examine the question of a carbon price signal at the international level, where such a scheme must necessarily be designed on a differential basis. (authors)

Hospital market concentration, pricing, and profitability in orthopedic surgery and interventional cardiology.

Science.gov (United States)

Robinson, James C

2011-06-01

To examine the association between hospital market concentration and pricing. Hospitals have been merging into systems that potentially wield bargaining power over private health insurers. Concern is growing among policy makers that these systems may respond to provisions of the 2010 health reform legislation by further increasing consolidation and prices. Multivariate statistical methods were used to evaluate the association between hospital market concentration, prices, and profits (contribution margins) for commercially insured patients admitted for any of 6 major cardiac and orthopedic surgery procedures, adjusting for characteristics of the patient (diagnoses, comorbidities,complications) and of the hospital (size, patient volume, teaching status). Data were obtained on 11,330 patients treated in 61 hospitals in 27 markets across 8 states in 2008. Hospital prices for patients in concentrated markets were higher than hospital prices for otherwise-comparable patients in competitive markets by 25.1% for coronary angioplasty, 13.0%for cardiac rhythm management (CRM) device insertion, 19.2% for total knee replacement, 24.1%for total hip replacement, 19.3% for lumbar spine fusion, and 22.7% for cervical spine fusion (P markets by $5259 for angioplasty, $3417 for CRM device insertion, $4123 for total knee replacement, $5889 for total hip replacement, $7931 for lumbar spine fusion, and $4663 for cervical spine fusion (P markets charge significantly higher prices and earn significantly higher margins from private insurers than do hospitals in competitive markets.

Arbitrage Pricing, Capital Asset Pricing, and Agricultural Assets

OpenAIRE

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

1988-01-01

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

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

Directory of Open Access Journals (Sweden)

David Bouras

2017-07-01

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

Beneficiary price sensitivity in the Medicare prescription drug plan market.

Science.gov (United States)

Frakt, Austin B; Pizer, Steven D

2010-01-01

The Medicare stand-alone prescription drug plan (PDP) came into existence in 2006 as part of the Medicare prescription drug benefit. It is the most popular plan type among Medicare drug plans and large numbers of plans are available to all beneficiaries. In this article we present the first analysis of beneficiary price sensitivity in the PDP market. Our estimate of elasticity of enrollment with respect to premium, -1.45, is larger in magnitude than has been found in the Medicare HMO market. This high degree of beneficiary price sensitivity for PDPs is consistent with relatively low product differentiation, low fixed costs of entry in the PDP market, and the fact that, in contrast to changing HMOs, beneficiaries can select a PDP without disrupting doctor-patient relationships.

Environmental Control System Software & Hardware Development

Science.gov (United States)

Vargas, Daniel Eduardo

2017-01-01

ECS hardware: (1) Provides controlled purge to SLS Rocket and Orion spacecraft. (2) Provide mission-focused engineering products and services. ECS software: (1) NASA requires Compact Unique Identifiers (CUIs); fixed-length identifier used to identify information items. (2) CUI structure; composed of nine semantic fields that aid the user in recognizing its purpose.

The relationship between young people's transit use and their perceptions of equity concepts in transit service provision

DEFF Research Database (Denmark)

Kaplan, Sigal; de Abreu e Silva, João; Di Ciommo, Floridea

2014-01-01

This study investigates the effect of price and travel mode fairness and spatial equity in transit provision on the perceived transit service quality, willingness to pay, and habitual frequency of use. Based on the theory of planned behavior, we developed a web-based questionnaire for revealed...

PRICE CATEGORIES USED IN FOREIGN TRADE TRANSACTIONS IN THE LIGHT OF THE DELIVERY TERMS INCOTERMS 2010

Directory of Open Access Journals (Sweden)

Paliu - Popa Lucia

2011-12-01

Full Text Available On the international markets of goods, pricing is usually done by the confrontation between supply and demand, under pressure from global competition; such pricing is influenced by many other factors that reflect the structural crisis phenomena triggered in the world economy, or factors specific to different groups of goods. After negotiation, the contracting parties should obtain the best price, taking into account the circumstantial situation of the world market upon the transaction, the quality and the technical and functional parameters of the goods subject to negotiations, comparable to those of the competition, the delivery terms and the payment method. From this perspective, we believe that the provision of substantiated external prices makes it easier to obtain maximum benefits and achieve the trade with foreign countries under the best terms. Because the external price is an essential element of the agreement of international sale of goods that contributes substantially to the profitability of an entity, we will deal below with the main categories of prices used in foreign trade activities, both in intra-Community and international transactions, taking into account the models for calculating the external price, compared to the delivery terms Incoterms 2010.

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

International Nuclear Information System (INIS)

Anon.

1986-01-01

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

Impact of price deregulation policy on the affordability of essential medicines for women's health: a panel data analysis.

Science.gov (United States)

Liu, Junjie; Wang, Liming; Liu, Chenxi; Zhang, Xinping

2017-12-01

A new policy which required deregulation on prices of off-patent medicines for women's health during procurement was introduced in China in September 2015. The current study examines this policy's impact on the affordability of essential medicines for women's health. Based on product-level panel data, a fixed effect regression model is employed by using procurement records from Hubei Centralist Tender for Drug Purchase platform. In the model, Affordability was measured with prices. The Competition consists of two parts: generic competition and therapeutic class competition which are measured with generic competitors and therapeutic substitutes. Instrument variable is used to deal with endogeneity. The policy helped control prices of essential medicines for women's health. Generic competition helped control prices, however, therapeutic class competition caused higher prices. The new policy helped enhance the affordability of essential medicines for women's health as expected, which provides empirical evidence on price deregulation. Besides, generic competition is important in price control despite strict regulatory system in China.

47 CFR 25.146 - Licensing and operating authorization provisions for the non-geostationary satellite orbit fixed...

Science.gov (United States)

2010-10-01

... Software Tools for Determining Conformity of Non-GSO FSS Networks with Limits Contained in Article S22 of... switching strategy that are used at different periods of a NGSO FSS system life. The pfd masks shall also be... approved software, the applicant shall indicate the program name and the version used. (iv) Identify and...

[Changes in prices of taxed sugar-sweetened beverages and nonessential energy dense food in rural and semi-rural areas in Mexico].

Science.gov (United States)

Colchero, M Arantxa; Zavala, J Alejandro; Batis, Carolina; Shamah-Levy, Teresa; Rivera-Dommarco, Juan A

2017-01-01

To estimate changes in prices associated with the implementation of the tax to sugar sweetened beverages (SSB) and to nonessential energy dense food in 2014. Price data were collected in rural and semi-rural areas in December 2013, and April and December 2014. Fixed effects models were used to estimate changes in prices of beverages and nonessential energy dense food, stratified by region, retailer and package size. The SSB tax did not pass completely through prices: prices increased on average 0.73 pesos per liter. For nonessential energy dense food, the tax passed completely or was overshifted for cookies, cereal bars and cereal boxes. The potential effect of the taxes on consumption could be attenuated in rural areas as the pass through prices was incomplete.

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

Science.gov (United States)

2010-01-01

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

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