WorldWideScience

Sample records for rapidly rising prices

  1. Rapidly rising food prices and the experience of food insecurity in urban Ethiopia: impacts on health and well-being.

    Science.gov (United States)

    Hadley, Craig; Stevenson, Edward Geoffrey Jedediah; Tadesse, Yemesrach; Belachew, Tefera

    2012-12-01

    The rise in food prices since 2007 is widely recognized as signaling a crisis of food insecurity among the world's poor. Scholars sought to chart the impacts of the crisis on food insecurity by conducting simulation studies, assessing anthropometric outcomes, and evaluating shifts in experience-based measures of food security. Few studies, however, have investigated the broader impacts on those most vulnerable and how rapid rises in food prices play out in the everyday lives of those most impacted. We used qualitative methods to investigate the impact of the rise in food prices on the urban poor in Ethiopia. Twenty semi-structured interviews were conducted in August 2011, in the provincial town of Jimma. Themes identified in these interviews included coping strategies, consumption priorities, and impacts on institutional networks of sharing. Our results suggest that several important cultural practices, including funerals and coffee ceremonies, were undermined by the rise in prices, and that respondents linked food prices to increasing food insecurity, which they in turn linked to high levels of stress, poor mental health, and reduced physical health. Our results are consistent with several other studies that suggest that food insecurity has a range of non-nutritional consequences, and that these are due in part to the highly social nature of food. Recognizing the effects of food insecurity on dimensions of everyday life such as interaction with neighbors, and feelings of shame, draws attention to the potential for food price increases to have erosive effects on communal social capital, and to increase the vulnerability of affected peoples to future shocks. Copyright © 2012 Elsevier Ltd. All rights reserved.

  2. The Rise in House Prices in China: Bubbles or Fundamentals?

    OpenAIRE

    Sainan Jin; Wanjun Jiang; Liangjun Su; Jianying Hu

    2006-01-01

    The dramatic rise of house prices in many cities of China has brought huge attention from both the governmental and academic circles. There is a huge debate on whether the increasing house prices are driven by market fundamentals or just by speculation. Like Levin and Wright (1997a, 1997b), we decompose house prices in China into fundamental and non-fundamental components. We also consider potential nonlinear feedback from the historical growth rate of house prices on the current house prices...

  3. Rising food prices and household food security

    African Journals Online (AJOL)

    food prices can exacerbate poverty, inequality and food insecurity when the poor are net food consumers (consume more than they produce),4 which is the .... Darmon N, Drewnoski A. Contribution of food prices and diet cost to socioeconomic disparities in diet quality and health: a systematic review and analysis. Nutrition.

  4. Rising energy prices and the economics of water in agriculture

    NARCIS (Netherlands)

    Zilberman, D.; Sproul, T.; Rajagopal, D.; Sexton, S.; Hellegers, P.J.G.J.

    2008-01-01

    Rising energy prices will alter water allocation and distribution. Water extraction and conveyance will become more costly and demand for hydroelectric power will grow. The higher cost of energy will substantially increase the cost of groundwater, whereas increasing demand for hydroelectric power

  5. Effects of rising food prices on household food security on ...

    African Journals Online (AJOL)

    2015-05-13

    May 13, 2015 ... Objective: The objective of the study was to determine the effects of rising food prices on people's perceptions and coping strategies regarding ... years. The village has 250 households, but of these, only 60 are femaleheaded. Therefore, the sample size was 60 households. The response rate was 100%.

  6. Effects of rising food prices on household food security on ...

    African Journals Online (AJOL)

    Background: Rising food prices can have a devastating effect on the health of poor households by making it more difficult for them to afford basic food baskets. Although South Africa is food secure as a nation, it does not mean that every household is able to access nutritionally adequate food. Objective: The objective of the ...

  7. Gasoline Prices and Their Relationship to Rising Motorcycle Fatalities, 1990–2007

    Science.gov (United States)

    Stimpson, Jim P.; Hilsenrath, Peter E.

    2009-01-01

    Motor vehicle accidents are the leading cause of death among young adults. Although automobile fatalities have declined in recent years, motorcycle fatalities are rapidly increasing. The purpose of our research was to quantify the relationship between changing fuel prices and motorcycle fatalities. Our findings suggest that people increasingly rely on motorcycles to reduce their fuel costs in response to rising gasoline prices. We estimate that use of motorcycles and scooters instead of 4-wheeled vehicles results in over 1500 additional motorcycle fatalities annually for each dollar increase in gas prices. Motorcycle safety should receive more attention as a leading public health issue. PMID:19696374

  8. Oil Price Rise and the Great Recession of 2008

    Directory of Open Access Journals (Sweden)

    Mehdi Siamak MONADJEMI

    2017-02-01

    Full Text Available The financial crises of 2007-2008, caused wide-spread falling output and unemployment, in the affected countries and also globally. The severity of the recession was such that it was called the “Great Recession”. As a result of an increase in demand from China and India, at the same time, oil prices rose significantly. The empirical results from this study show that oil price changes negatively affected global growth rate in the 1970s but not in the 1990s and 2000s. These results suggest that the Great Recession in 2008 that initiated by the financial crises, was independent of a significant rise in oil prices.

  9. Rapid rise and decay in petition signing

    National Research Council Canada - National Science Library

    Yasseri, Taha; Hale, Scott A; Margetts, Helen Z

    2017-01-01

    .... Petition signing is an example of collective action which has gained in popularity with rising use of social media and provides such data for the whole population of petition signatories for a given platform...

  10. Rising gasoline prices increase new motorcycle sales and fatalities.

    Science.gov (United States)

    Zhu, He; Wilson, Fernando A; Stimpson, Jim P; Hilsenrath, Peter E

    2015-12-01

    We examined whether sales of new motorcycles was a mechanism to explain the relationship between motorcycle fatalities and gasoline prices. The data came from the Motorcycle Industry Council, Energy Information Administration and Fatality Analysis Reporting System for 1984-2009. Autoregressive integrated moving average (ARIMA) regressions estimated the effect of inflation-adjusted gasoline price on motorcycle sales and logistic regressions estimated odds ratios (ORs) between new and old motorcycle fatalities when gasoline prices increase. New motorcycle sales were positively correlated with gasoline prices (r = 0.78) and new motorcycle fatalities (r = 0.92). ARIMA analysis estimated that a US$1 increase in gasoline prices would result in 295,000 new motorcycle sales and, consequently, 233 new motorcycle fatalities. Compared to crashes on older motorcycle models, those on new motorcycles were more likely to be young riders, occur in the afternoon, in clear weather, with a large engine displacement, and without alcohol involvement. Riders on new motorcycles were more likely to be in fatal crashes relative to older motorcycles (OR 1.14, 95 % confidence interval (CI) 1.02-1.28) when gasoline prices increase. Our findings suggest that, in response to increasing gasoline prices, people tend to purchase new motorcycles, and this is accompanied with significantly increased crash risk. There are several policy mechanisms that can be used to lower the risk of motorcycle crash injuries through the mechanism of gas prices and motorcycle sales such as raising awareness of motorcycling risks, enhancing licensing and testing requirements, limiting motorcycle power-to-weight ratios for inexperienced riders, and developing mandatory training programs for new riders.

  11. WHAT IMPLICATIONS DOES THE WORLD FOOD PRICE RISE HAVE FOR FOOD SECURITY IN BANGLADESH

    Directory of Open Access Journals (Sweden)

    Mahbub Hossain

    2014-01-01

    Full Text Available Bangladesh has often been regarded as a country whose food security situation is frequently worsened by price rise of essential foodstuffs. Rice has been the most significant cereal food in Bangladesh because it accounts for around 42 percent of per capita daily energy intake. Food price rise has become the most serious concern of majority of the country’s household as price rise becomes the regular phenomenon in the country. One-third of the country’s total population have been living under the poverty line. Regardless of the domestic rice production, Bangladesh imports around three million tonnes of rice every year which constitutes 17 percent of the country’s total import. Therefore, this empirical paper has attempted to explore how Bangladeshi local rice price is being affected by the world rice price, and how rising rice price affects household food security. In doing so, co-integration model and error correction model were applied to weekly rice price data obtained from the on-line database of the Food Policy Monitoring Unit of the Ministry of Food, Government of Bangladesh. The results confirm that world rice price and Bangladesh local market rice price are co-integrated. Although there has not been any immediate impact of world price shock in Bangladesh due to the influence of short term measures taken by the government, there are long term impacts of such price shock. Logit model has been employed to determine the rice price threshold beyond which households become unable to ensure their food security. For this purpose a sample of 80 poor households whose per capita income was less than $1, was surveyed in order to obtain the required data. The results of the logit model suggest that if rice price goes beyond Tk 34 per kilogram, sample poor households become extremely vulnerable in respect of food security. Finally, some recommendations have been made at the end of this paper based on the empirical findings.

  12. RAPIDLY RISING TRANSIENTS IN THE SUPERNOVA—SUPERLUMINOUS SUPERNOVA GAP

    Energy Technology Data Exchange (ETDEWEB)

    Arcavi, Iair; Howell, D. Andrew [Las Cumbres Observatory Global Telescope, 6740 Cortona Dr., Suite 102, Goleta, CA 93111 (United States); Wolf, William M. [Department of Physics, University of California, Santa Barbara, CA 93106 (United States); Bildsten, Lars; McCully, Curtis; Valenti, Stefano [Kavli Institute for Theoretical Physics, University of California, Santa Barbara, CA 93106 (United States); Leloudas, Giorgos; Gal-Yam, Avishay; Katz, Boaz [Department of Particle Physics and Astrophysics, The Weizmann Institute of Science, Rehovot, 76100 (Israel); Hardin, Delphine; Astier, Pierre; Balland, Cristophe [LPNHE, CNRS-IN2P3 and University of Paris VI and VII, F-75005 Paris (France); Prajs, Szymon; Sullivan, Mark [School of Physics and Astronomy, University of Southampton, Southampton, SO17 1BJ (United Kingdom); Perley, Daniel A. [Dark Cosmology Centre, Niels Bohr Institute, University of Copenhagen, Juliane Maries Vej 30, DK-2100 Copenhagen (Denmark); Svirski, Gilad [Racah Institute for Physics, The Hebrew University, Jerusalem 91904 (Israel); Cenko, S. Bradley [Astrophysics Science Division, NASA Goddard Space Flight Center, Mail Code 661, Greenbelt, MD 20771 (United States); Lidman, Chris [Australian Astronomical Observatory, P.O. Box 915, North Ryde, NSW 1670 (Australia); Carlberg, Ray G. [Department of Astronomy and Astrophysics, University of Toronto, 50 St. George Street, Toronto, ON M5S 3H8 (Canada); Conley, Alex, E-mail: iarcavi@lcogt.net [Center for Astrophysics and Space Astronomy, University of Colorado, 389 UCB, Boulder, CO 80309-389 (United States); and others

    2016-03-01

    We present observations of four rapidly rising (t{sub rise} ≈ 10 days) transients with peak luminosities between those of supernovae (SNe) and superluminous SNe (M{sub peak} ≈ −20)—one discovered and followed by the Palomar Transient Factory (PTF) and three by the Supernova Legacy Survey. The light curves resemble those of SN 2011kl, recently shown to be associated with an ultra-long-duration gamma-ray burst (GRB), though no GRB was seen to accompany our SNe. The rapid rise to a luminous peak places these events in a unique part of SN phase space, challenging standard SN emission mechanisms. Spectra of the PTF event formally classify it as an SN II due to broad Hα emission, but an unusual absorption feature, which can be interpreted as either high velocity Hα (though deeper than in previously known cases) or Si ii (as seen in SNe Ia), is also observed. We find that existing models of white dwarf detonations, CSM interaction, shock breakout in a wind (or steeper CSM), and magnetar spin down cannot readily explain the observations. We consider the possibility that a “Type 1.5 SN” scenario could be the origin of our events. More detailed models for these kinds of transients and more constraining observations of future such events should help to better determine their nature.

  13. Rising Prices of Targeted Oral Anticancer Medications and Associated Financial Burden on Medicare Beneficiaries.

    Science.gov (United States)

    Shih, Ya-Chen Tina; Xu, Ying; Liu, Lei; Smieliauskas, Fabrice

    2017-08-01

    Purpose The high cost of oncology drugs threatens the affordability of cancer care. Previous research identified drivers of price growth of targeted oral anticancer medications (TOAMs) in private insurance plans and projected the impact of closing the coverage gap in Medicare Part D in 2020. This study examined trends in TOAM prices and patient out-of-pocket (OOP) payments in Medicare Part D and estimated the actual effects on patient OOP payments of partial filling of the coverage gap by 2012. Methods Using SEER linked to Medicare Part D, 2007 to 2012, we identified patients who take TOAMs via National Drug Codes in Part D claims. We calculated total drug costs (prices) and OOP payments per patient per month and compared their rates of inflation with general health care prices. Results The study cohort included 42,111 patients who received TOAMs between 2007 and 2012. Although the general prescription drug consumer price index grew at 3% per year over 2007 to 2012, mean TOAM prices increased by nearly 12% per year, reaching $7,719 per patient per month in 2012. Prices increased over time for newly and previously launched TOAMs. Mean patient OOP payments dropped by 4% per year over the study period, with a 40% drop among patients with a high financial burden in 2011, when the coverage gap began to close. Conclusion Rising TOAM prices threaten the financial relief patients have begun to experience under closure of the coverage gap in Medicare Part D. Policymakers should explore methods of harnessing the surge of novel TOAMs to increase price competition for Medicare beneficiaries.

  14. Rise of oil prices and energy policy; Hausse du petrole et politique energetique

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2005-07-01

    This document reprints the talk of the press conference given by D. de Villepin, French prime minister, on August 16, 2005 about the alarming rise of oil prices. In his talk, the prime minister explains the reasons of the crisis (increase of worldwide consumption, political tensions in the Middle East..) and presents the strategy and main trends of the French energy policy: re-launching of energy investments in petroleum refining capacities and in the nuclear domain (new generation of power plants), development of renewable energy sources and in particular biofuels, re-launching of the energy saving policy thanks to financial incentives and to the development of clean vehicles and mass transportation systems. In a second part, the prime minister presents his policy of retro-cession of petroleum tax profits to low income workers, and of charge abatement to professionals having an occupation strongly penalized by the rise of oil prices (truckers, farmers, fishermen, taxi drivers). (J.S.)

  15. Rapid adaptation of harmful cyanobacteria to rising CO2.

    Science.gov (United States)

    Sandrini, Giovanni; Ji, Xing; Verspagen, Jolanda M H; Tann, Robert P; Slot, Pieter C; Luimstra, Veerle M; Schuurmans, J Merijn; Matthijs, Hans C P; Huisman, Jef

    2016-08-16

    Rising atmospheric CO2 concentrations are likely to affect many ecosystems worldwide. However, to what extent elevated CO2 will induce evolutionary changes in photosynthetic organisms is still a major open question. Here, we show rapid microevolutionary adaptation of a harmful cyanobacterium to changes in inorganic carbon (Ci) availability. We studied the cyanobacterium Microcystis, a notorious genus that can develop toxic cyanobacterial blooms in many eutrophic lakes and reservoirs worldwide. Microcystis displays genetic variation in the Ci uptake systems BicA and SbtA, where BicA has a low affinity for bicarbonate but high flux rate, and SbtA has a high affinity but low flux rate. Our laboratory competition experiments show that bicA + sbtA genotypes were favored by natural selection at low CO2 levels, but were partially replaced by the bicA genotype at elevated CO2 Similarly, in a eutrophic lake, bicA + sbtA strains were dominant when Ci concentrations were depleted during a dense cyanobacterial bloom, but were replaced by strains with only the high-flux bicA gene when Ci concentrations increased later in the season. Hence, our results provide both laboratory and field evidence that increasing carbon concentrations induce rapid adaptive changes in the genotype composition of harmful cyanobacterial blooms.

  16. Vehicle type choice under the influence of a tax reform and rising fuel prices

    DEFF Research Database (Denmark)

    Mabit, Stefan Lindhard

    2014-01-01

    change in new vehicle purchases toward more diesel vehicles and more fuel-efficient vehicles. The paper analyses to what extent a vehicle tax reform similar to the Danish 2007 reform may explain changes in purchasing behaviour. The paper investigates the effects of a tax reform, fuel price changes...... that the effect of the tax reform on fuel efficiency is similar to the effect of rising fuel prices while the effect of technological development is much larger. The conclusion is that while the tax reform appeared in the same year as a large increase in fuel efficiency, it seems likely that it only explains......Differentiated vehicle taxes are considered by many a useful tool for promoting environmentally friendly vehicles. Various structures have been implemented in several countries, e.g. Ireland, France, The Czech Republic, and Denmark. In many countries the tax reforms have been followed by a steep...

  17. Libraries Drop Thousands of Journals as Budgets Shrink and Prices Rise.

    Science.gov (United States)

    Nicklin, Julie L.

    1991-01-01

    University libraries are being forced to cancel subscriptions to thousands of journals, some considered essential to academic research, due to rapidly rising costs. Publishers cite increased publication costs and more articles as the source of increases. Many journals once published by nonprofit organizations have been taken over by profit-seeking…

  18. Study on rapid evacuation in high-rise buildings

    Directory of Open Access Journals (Sweden)

    Xin Zhang

    2017-06-01

    Full Text Available More and more high rising buildings emerged in modern cities, but emergency evacuation of tall buildings has been a worldwide difficult problem. In this paper, a new evacuation device for high rising buildings in fire accident was proposed and studied. This device mainly consisted of special spiral slideway and shunt valve. People in this device could fast slide down to the first floor under gravity without any electric power and physical strength, which is suitable for various emergency evacuation including mobility-impaired persons. The plane simulation test has shown that human being in alternative clockwise and counterclockwise movement will not become dizzy. The evacuated people should wear protection pad, which can prevent slider from being injured by surface friction with the slide, and eliminate the friction coefficient difference caused by different clothes and slide surface. The calculation results show that the evacuation speed of the new device is much faster than traditional staircases. Moreover, such new evacuation device can also be used as a means of vertical transportation in high-rise buildings partly. People can take it from any floor to ground floor directly, which not only save time for waiting for the lifts but also save the power. The new evacuation system is of simple structure, easy to use, and suitable for evacuation and partly used as vertical downwards traffic, which shows light on solving world-wide difficulties on fast evacuation in high-rise buildings.

  19. The rise of targeted HIV oral rapid testing in Australia.

    Science.gov (United States)

    Chan, Derek; Stewart, Michael; Smith, Maggie; Price, Tony; Lusk, Jo; Ooi, Catriona; Read, Phillip; Finlayson, Robert

    2015-03-16

    To assess the performance and acceptability of the OraQuick Advance Rapid HIV-1/2 Antibody Test (ORT) in Australia. Cross-sectional study of 1074 men who have sex with men (MSM) and individuals aged 18 years or older at high risk of acquiring HIV infection who attended five public HIV or sexual health services, two general practices and one community clinic in Sydney from 1 January to 31 December 2013. One ORT confirmed by fourth-generation HIV enzyme immunoassay (EIA). ORT sensitivity and specificity compared with EIA; acceptabiity of the ORT to participants. 83.5% of participants were MSM, 90.3% were aged under 50 years, and 9% had never been tested for HIV. There were 11 true-positive ORT results, two false-negative (non-reactive) results (both were early infections), and one false-positive (reactive) result (due to reader error). Sensitivity and specificity were 84.6% and 99.8%, respectively (compared with a sensitivity of 99.3% and specificity of 99.8% listed by the manufacturer). Three quarters of participants (74.0%; 730/987) found the ORT less stressful than venous sampling. Those who usually had tests at intervals of greater than 3 months deemed the ORT less stressful than those who had quarterly tests (77.5% v 64.8%; Ptesting. ORT sensitivity is reduced in early HIV infection. The test is highly acceptable and less stressful than venous sampling. Participants are keen to be tested with the ORT in future, would recommend it to peers and would have tests more frequently if the ORT were licensed. TGA approval of this test might slow increasing HIV infection rates among MSM and others by facilitating diagnosis and treatment.

  20. Why Don't Prices Rise During Periods of Peak Demand? Evidence from Scanner Data

    OpenAIRE

    Judith A. Chevalier; Anil K Kashyap; Peter E. Rossi

    2003-01-01

    We examine the retail prices and wholesale prices of a large supermarket chain in Chicago over seven and one-half years. We show that prices tend to fall during the seasonal demand peak for a product and that changes in retail margins account for most of those price changes; thus we add to the growing body of evidence that markups are counter-cyclical. The pattern of margin changes that we observe is consistent with loss leader' models such as the Lal and Matutes (1994) model of retailer pric...

  1. RISE

    DEFF Research Database (Denmark)

    Ortenzi, M.; Petrini, F.; Bontempi, F.

    2013-01-01

    This paper originates from a European research proposal entitled RISE (Resilient Infrastructures and Structures against Emergencies). In RISE the assessment of the resilience of an urban development is carried out within an effective theoretical framework in which the large scale urban built...... are considered both at a local level, by investi-gating the network elements (nodes and links) and at a global level, by considering the interactions between the elements and the response of the entire network. A basic application focusing on a specific analysis aspect (the local resilience of a critical...

  2. The effect of rising food prices on food consumption: systematic review with meta-regression.

    Science.gov (United States)

    Green, Rosemary; Cornelsen, Laura; Dangour, Alan D; Turner, Rachel; Shankar, Bhavani; Mazzocchi, Mario; Smith, Richard D

    2013-06-17

    To quantify the relation between food prices and the demand for food with specific reference to national and household income levels. Systematic review with meta-regression. Online databases of peer reviewed and grey literature (ISI Web of Science, EconLit, PubMed, Medline, AgEcon, Agricola, Google, Google Scholar, IdeasREPEC, Eldis, USAID, United Nations Food and Agriculture Organization, World Bank, International Food Policy Research Institute), hand searched reference lists, and contact with authors. We included cross sectional, cohort, experimental, and quasi-experimental studies with English abstracts. Eligible studies used nationally representative data from 1990 onwards derived from national aggregate data sources, household surveys, or supermarket and home scanners. The primary outcome extracted from relevant papers was the quantification of the demand for foods in response to changes in food price (own price food elasticities). Descriptive and study design variables were extracted for use as covariates in analysis. We conducted meta-regressions to assess the effect of income levels between and within countries on the strength of the relation between food price and demand, and predicted price elasticities adjusted for differences across studies. 136 studies reporting 3495 own price food elasticities from 162 different countries were identified. Our models predict that increases in the price of all foods result in greater reductions in food consumption in poor countries: in low and high income countries, respectively, a 1% increase in the price of cereals results in reductions in consumption of 0.61% (95% confidence interval 0.56% to 0.66%) and 0.43% (0.36% to 0.48%), and a 1% increase in the price of meat results in reductions in consumption of 0.78% (0.73% to 0.83%) and 0.60% (0.54% to 0.66%). Within all countries, our models predict that poorer households will be the most adversely affected by increases in food prices. Changes in global food prices will

  3. RISE

    DEFF Research Database (Denmark)

    Ortenzi, M.; Petrini, F.; Bontempi, F.

    2013-01-01

    infrastructure is perceived as a network, where nodes represent premises for the activities of the infrastructure and links represent the physical connections between them. The framework implies that the response to a critical event and the capability of recovering from the consequence of a disaster......This paper originates from a European research proposal entitled RISE (Resilient Infrastructures and Structures against Emergencies). In RISE the assessment of the resilience of an urban development is carried out within an effective theoretical framework in which the large scale urban built...... are considered both at a local level, by investi-gating the network elements (nodes and links) and at a global level, by considering the interactions between the elements and the response of the entire network. A basic application focusing on a specific analysis aspect (the local resilience of a critical...

  4. Does Accessibility to the Central Business District (CBD Have an Impact on High-Rise Condominium Price Gradient in Kuala Lumpur, Malaysia?

    Directory of Open Access Journals (Sweden)

    Dziauddin Mohd Faris

    2016-01-01

    Full Text Available This paper uses a spatial econometric method known as Geographically Weighted Regression (GWR to investigate the impact of accessibility to the CBD on the high-rise condominium price gradient in Kuala Lumpur, Malaysia. Using a GWR method, after having controlled other factors, this study clearly reveal the impact of accessibility to the CBD on high-rise condominium varying prices across the study area, having a much larger positive impact in some areas but less and counterintuitive impact in others. In general, the results from this study show accessibility to the CBD measured by the travel times does affect high-rise condominium prices (high-rise condominium prices decrease as travel times to the CBD increase in most part of the areas, hence proved Alonso, Muth and Mills were still right.

  5. 30 CFR 203.54 - How does my relief arrangement for an oil and gas lease operate if prices rise sharply?

    Science.gov (United States)

    2010-07-01

    ... arrangement for an oil and gas lease operate if prices rise sharply? In those months when your current... closing prices on the NYMEX for light sweet crude oil and natural gas over the most recent full 12... 30 Mineral Resources 2 2010-07-01 2010-07-01 false How does my relief arrangement for an oil and...

  6. Multiloop Rapid-Rise/Rapid Fall High-Voltage Power Supply

    Science.gov (United States)

    Bearden, Douglas

    2007-01-01

    A proposed multiloop power supply would generate a potential as high as 1.25 kV with rise and fall times rise-time, and fall-time requirements. The power supply would include a preregulator that would be used to program a voltage 1/30 of the desired output voltage. By means of a circuit that would include a pulse-width modulator (PWM), two voltage doublers, and a transformer having two primary and two secondary windings, the preregulator output voltage would be amplified by a factor of 30. A resistor would limit the current by controlling a drive voltage applied to field-effect transistors (FETs) during turn-on of the PWM. Two feedback loops would be used to regulate the high output voltage. A pulse transformer would be used to turn on four FETs to short-circuit output capacitors when the outputs of the PWM were disabled. Application of a 0-to-5-V square to a PWM shut-down pin would cause a 20-to-1,250-V square wave to appear at the output.

  7. Workers on the margin: who drops health coverage when prices rise?

    Science.gov (United States)

    Okeke, Edward N; Hirth, Richard A; Grazier, Kyle

    2010-01-01

    We revisit the question of price elasticity of employer-sponsored insurance (ESI) take-up by directly examining changes in the take-up of ESI at a large firm in response to exogenous changes in employee premium contributions. We find that, on average, a 10% increase in the employee's out-of-pocket premium increases the probability of dropping coverage by approximately 1%. More importantly, we find heterogeneous impacts: married workers are much more price-sensitive than single employees, and lower-paid workers are disproportionately more likely to drop coverage than higher-paid workers. Elasticity estimates for employees below the 25th percentile of salary distribution in our sample are nearly twice the average.

  8. The effect of rising food prices on food consumption: systematic review with meta-regression.

    OpenAIRE

    Green, R.; Cornelsen, L; Dangour, AD; Turner, R.; Shankar, B; Mazzocchi, M.; Smith, Rd

    2013-01-01

    Objective To quantify the relation between food prices and the demand for food with specific reference to national and household income levels. Design Systematic review with meta-regression. Data sources Online databases of peer reviewed and grey literature (ISI Web of Science, EconLit, PubMed, Medline, AgEcon, Agricola, Google, Google Scholar, IdeasREPEC, Eldis, USAID, United Nations Food and Agriculture Organization, World Bank, International Food Policy Research Institute), hand searched r...

  9. Land use changes after the period commodities rising price in the Rio Grande do Sul State, Brazil

    Directory of Open Access Journals (Sweden)

    Vicente Celestino Pires Silveira

    Full Text Available ABSTRACT: At the end of the 20th and early 21st century, agricultural systems incorporated definitively a new mission: to generate goods for a world population that continues to grow and whose way of life demand food with low environmental impact. Soybean is the main raw material for the production of biodiesel in Brazil, accountably responsible for 82.4% of the total produced between 2006 and 2013. The Brazilian state of Rio Grande do Sul (RS, which is formed by the Pampa and the Atlantic forest biomes, was responsible for 35.7% of the country's biodiesel production in the referred period. The aim of this paper was to verify the impact of the increased area of soybean cultivation in land use in Rio Grande do Sul State, in the period between 1990 and 2015, considering separately its two biomes (Pampa and Atlantic Forest original areas, using both census dataset and satellite images. We used the period from 1990 to 2000 as before commodity rising price (BCRP and the period from 2000 to 2013 as commodity rising price (CRP. The 505,162 ha from Atlantic Forest biome and 1,192,115ha from Pampa biome were added to soybean production in the CRP period. In the Atlantic Forest, this enlargement occurred in the border of the main production area, while in Pampa biome conversion of natural grassland to crop land was the main reason for the large increment in the cultivated area.

  10. The Impact of the Rise in Vegetable Prices on Vegetable Producer Behavior–Based on the survey of vegetable producers in Jiayu, Hubei Province

    Directory of Open Access Journals (Sweden)

    Liu Pan

    2015-01-01

    Full Text Available In order to study the impact of the rise in prices of vegetables on vegetable producers, and to increase the revenue of vegetable producers, this paper does a survey by anonymous sampling questionnaire. Results shows that: most vegetable growers think that vegetable prices should rise and would continue to rise, and that vegetable prices would increase their revenue, thus in the coming year they would expand the planting scale of vegetable variety whose increase rate is the largest in this year. But because of the increase of logistics costs and production costs, some farmers benefit very little from the rising trend of vegetable prices. Most farmers expect too much in the trend estimation of the prices of vegetables and also lack of planning and forward-looking in production, thus the planting area of single variety is often decided by the market of previous year. According to analysis of the impact of the rise in vegetable prices on vegetable producer behavior, this paper gives the following suggestions to increase revenue of vegetable producers: change the mode of thinking, improve rural information platform, and increase capital investment for vegetable production base.

  11. The curse of wealth - Middle Eastern countries need to address the rapidly rising burden of diabetes.

    Science.gov (United States)

    Klautzer, Lisa; Becker, Joachim; Mattke, Soeren

    2014-04-01

    The energy boom of the last decade has led to rapidly increasing wealth in the Middle East, particularly in the oil and gas-rich Gulf Cooperation Council (GCC) countries. This exceptional growth in prosperity has brought with it rapid changes in lifestyles that have resulted in a significant rise in chronic disease. In particular the number of people diagnosed with diabetes has increased dramatically and health system capacity has not kept pace. In this article, we summarize the current literature to illustrate the magnitude of the problem, its causes and its impact on health and point to options how to address it.

  12. 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

  13. The Effects of Rising Interest Rates on Electric Utility Stock Prices: Regulatory Considerations and Approaches

    Energy Technology Data Exchange (ETDEWEB)

    Kihm, Steve [Seventhwave, Madison, WI (United States); Satchwell, Andrew [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Cappers, Peter [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2017-07-26

    This technical brief identifies conditions under which utility regulators should consider implementing policy approaches that seek to mitigate negative outcomes due to an increase in interest rates. Interest rates are a key factor in determining a utility’s cost of equity and investors find value when returns exceed the cost of equity. Through historical observations of periods of rising and falling interest rates and application of a pro forma financial tool, we identify the key drivers of utility stock valuations and estimate the degree to which those valuations might be affected by increasing interest rates.3 We also analyze the efficacy of responses by utility regulators to mitigate potential negative financial impacts. We find that regulators have several possible approaches to mitigate a decline in value in an environment of increasing interest rates, though regulators must weigh the tradeoffs of improving investor value with potential increases in customer costs. Furthermore, the range of approaches reflects today’s many different electric utility regulatory models and regulatory responses to a decline in investor value will fit within state-specific models.

  14. Rapid method for surveying CO concentrations in high-rise buildings

    Energy Technology Data Exchange (ETDEWEB)

    Flachsbart, P.G.; Ott, W.R.

    1986-01-01

    A rapid method for employing personal exposure monitors (PEMs) to measure carbon monoxide (CO) concentrations in high-rise buildings is described. The purpose is to determine whether or not a CO problem exists in a building, and, if so, what corrective actions should be taken. The methodology was applied to a 15-story building in Palo Alto, CA, where elevated CO concentrations were discovered on the first 11 floors. The source appeared to be an underground parking garage. A follow-up survey four years later revealed that mitigative measures designed to reduce these concentrations had been successful. The survey methodology is inexpensive and can be applied to a number of buildings in a city.

  15. Rapid poleward range expansion of tropical reef corals in response to rising sea surface temperatures

    Science.gov (United States)

    Yamano, Hiroya; Sugihara, Kaoru; Nomura, Keiichi

    2011-02-01

    Rising temperatures caused by climatic warming may cause poleward range shifts and/or expansions in species distribution. Tropical reef corals (hereafter corals) are some of the world's most important species, being not only primary producers, but also habitat-forming species, and thus fundamental ecosystem modification is expected according to changes in their distribution. Although most studies of climate change effects on corals have focused on temperature-induced coral bleaching in tropical areas, poleward range shifts and/or expansions may also occur in temperate areas. We show the first large-scale evidence of the poleward range expansion of modern corals, based on 80 years of national records from the temperate areas of Japan, where century-long measurements of in situ sea-surface temperatures have shown statistically significant rises. Four major coral species categories, including two key species for reef formation in tropical areas, showed poleward range expansions since the 1930s, whereas no species demonstrated southward range shrinkage or local extinction. The speed of these expansions reached up to 14 km/year, which is far greater than that for other species. Our results, in combination with recent findings suggesting range expansions of tropical coral-reef associated organisms, strongly suggest that rapid, fundamental modifications of temperate coastal ecosystems could be in progress.

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

    OpenAIRE

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

    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 ...

  17. Quantifying the impact of rising food prices on child mortality in India: a cross-district statistical analysis of the District Level Household Survey.

    Science.gov (United States)

    Fledderjohann, Jasmine; Vellakkal, Sukumar; Khan, Zaky; Ebrahim, Shah; Stuckler, David

    2016-04-01

    Rates of child malnutrition and mortality in India remain high. We tested the hypothesis that rising food prices are contributing to India's slow progress in improving childhood survival. Using rounds 2 and 3 (2002-08) of the Indian District Level Household Survey, we calculated neonatal, infant and under-five mortality rates in 364 districts, and merged these with district-level food price data from the National Sample Survey Office. Multivariate models were estimated, stratified into 27 less deprived states and territories and 8 deprived states ('Empowered Action Groups'). Between 2002 and 2008, the real price of food in India rose by 11.7%. A 1% increase in total food prices was associated with a 0.49% increase in neonatal (95% confidence interval (CI): 0.13% to 0.85%), but not infant or under-five mortality rates. Disaggregating by type of food and level of deprivation, in the eight deprived states, we found an elevation in neonatal mortality rates of 0.33% for each 1% increase in the price of meat (95% CI: 0.06% to 0.60%) and 0.10% for a 1% increase in dairy (95% CI: 0.01% to 0.20%). We also detected an adverse association of the price of dairy with infant (b = 0.09%; 95% CI: 0.01% to 0.16%) and under-five mortality rates (b = 0.10%; 95% CI: 0.03% to 0.17%). These associations were not detected in less deprived states and territories. Rising food prices, particularly of high-protein meat and dairy products, were associated with worse child mortality outcomes. These adverse associations were concentrated in the most deprived states. © The Author 2016. Published by Oxford University Press on behalf of the International Epidemiological Association.

  18. Rapidly Rising Optical Transients from the Birth of Binary Neutron Stars

    Science.gov (United States)

    Hotokezaka, Kenta; Kashiyama, Kazumi; Murase, Kohta

    2017-11-01

    We study optical counterparts of a new-born pulsar in a double neutron star system like PSR J0737-3039A/B. This system is believed to have ejected a small amount of mass of { O }(0.1 {M}ȯ ) at the second core-collapse supernova. We argue that the initial spin of the new-born pulsar can be determined by the orbital period at the time when the second supernova occurs. The spin angular momentum of the progenitor is expected to be similar to that of the He-burning core, which is tidally synchronized with the orbital motion, and then the second remnant may be born as a millisecond pulsar. If the dipole magnetic field strength of the nascent pulsar is comparable with that inferred from the current spin-down rate of PSR J0737-3039B, the initial spin-down luminosity is comparable to the luminosity of super-luminous supernovae. We consider thermal emission arising from the supernova ejecta driven by the relativistic wind from such a new-born pulsar. The resulting optical light curves have a rise time of ∼10 days and a peak luminosity of ∼1044 erg s‑1. The optical emission may last for a month to several months, due to the reprocessing of X-rays and UV photons via photoelectric absorption. These features are broadly consistent with those of the rapidly rising optical transients. The high spin-down luminosity and small ejecta mass are favorable for the progenitor of the repeating fast radio burst, FRB 121102. We discuss a possible connection between new-born double pulsars and fast radio bursts.

  19. Rapid high-temperature metamorphism of East Pacific Rise gabbros from Hess Deep

    Science.gov (United States)

    Manning, Craig E.; Weston, Patricia E.; Mahon, Keith I.

    1996-10-01

    Metamorphosed oceanic gabbros provide a record of the cooling history of the lower crust near mid-ocean ridges, but the temperature range, rate, and location of subsolidus events are poorly known. We combine hornblende-plagioclase thermometry, statistical analysis, and thermal models to estimate precisely the temperature, time, distance from axis, and duration of metamorphism in East Pacific Rise gabbros from Hess Deep, ODP Hole 894G. Metamorphic hornblende and plagioclase, which formed during microfracturing and sea water penetration, equilibrated at a mean temperature of 716 ± 8°C (90% confidence level). Comparison of the properties of the observed temperature distribution with those of model events indicates that metamorphism spanned ≤ 60°C. When combined with thermal models of fast-spreading centers, this implies that metamorphism was rapid (≤ 6000 yr) and occurred 1-4 km off axis. Application of this approach to other gabbros will allow comparison of spatial and temporal characteristics of deformation and fluid flow in the lower oceanic crust as a function of ridge setting.

  20. The effects of a rise in cigarette price on cigarette consumption, tobacco taxation revenues, and of smoking-related deaths in 28 EU countries-- applying threshold regression modelling.

    Science.gov (United States)

    Yeh, Chun-Yuan; Schafferer, Christian; Lee, Jie-Min; Ho, Li-Ming; Hsieh, Chi-Jung

    2017-09-21

    European Union public healthcare expenditure on treating smoking and attributable diseases is estimated at over €25bn annually. The reduction of tobacco consumption has thus become one of the major social policies of the EU. This study investigates the effects of price hikes on cigarette consumption, tobacco tax revenues and smoking-caused deaths in 28 EU countries. Employing panel data for the years 2005 to 2014 from Euromonitor International, the World Bank and the World Health Organization, we used income as a threshold variable and applied threshold regression modelling to estimate the elasticity of cigarette prices and to simulate the effect of price fluctuations. The results showed that there was an income threshold effect on cigarette prices in the 28 EU countries that had a gross national income (GNI) per capita lower than US$5418, with a maximum cigarette price elasticity of -1.227. The results of the simulated analysis showed that a rise of 10% in cigarette price would significantly reduce cigarette consumption as well the total death toll caused by smoking in all the observed countries, but would be most effective in Bulgaria and Romania, followed by Latvia and Poland. Additionally, an increase in the number of MPOWER tobacco control policies at the highest level of achievment would help reduce cigarette consumption. It is recommended that all EU countries levy higher tobacco taxes to increase cigarette prices, and thus in effect reduce cigarette consumption. The subsequent increase in tobacco tax revenues would be instrumental in covering expenditures related to tobacco prevention and control programs.

  1. The effects of a rise in cigarette price on cigarette consumption, tobacco taxation revenues, and of smoking-related deaths in 28 EU countries-- applying threshold regression modelling

    Directory of Open Access Journals (Sweden)

    Chun-Yuan Yeh

    2017-09-01

    Full Text Available Abstract Background European Union public healthcare expenditure on treating smoking and attributable diseases is estimated at over €25bn annually. The reduction of tobacco consumption has thus become one of the major social policies of the EU. This study investigates the effects of price hikes on cigarette consumption, tobacco tax revenues and smoking-caused deaths in 28 EU countries. Methods Employing panel data for the years 2005 to 2014 from Euromonitor International, the World Bank and the World Health Organization, we used income as a threshold variable and applied threshold regression modelling to estimate the elasticity of cigarette prices and to simulate the effect of price fluctuations. Results The results showed that there was an income threshold effect on cigarette prices in the 28 EU countries that had a gross national income (GNI per capita lower than US$5418, with a maximum cigarette price elasticity of −1.227. The results of the simulated analysis showed that a rise of 10% in cigarette price would significantly reduce cigarette consumption as well the total death toll caused by smoking in all the observed countries, but would be most effective in Bulgaria and Romania, followed by Latvia and Poland. Additionally, an increase in the number of MPOWER tobacco control policies at the highest level of achievment would help reduce cigarette consumption. Conclusions It is recommended that all EU countries levy higher tobacco taxes to increase cigarette prices, and thus in effect reduce cigarette consumption. The subsequent increase in tobacco tax revenues would be instrumental in covering expenditures related to tobacco prevention and control programs.

  2. Modeling impacts of sea-level rise, oil price, and management strategy on the costs of sustaining Mississippi delta marshes with hydraulic dredging.

    Science.gov (United States)

    Wiegman, Adrian R H; Day, John W; D'Elia, Christopher F; Rutherford, Jeffrey S; Morris, James T; Roy, Eric D; Lane, Robert R; Dismukes, David E; Snyder, Brian F

    2018-03-15

    Over 25% of Mississippi River delta plain (MRDP) wetlands were lost over the past century. There is currently a major effort to restore the MRDP focused on a 50-year time horizon, a period during which the energy system and climate will change dramatically. We used a calibrated MRDP marsh elevation model to assess the costs of hydraulic dredging to sustain wetlands from 2016 to 2066 and 2016 to 2100 under a range of scenarios for sea level rise, energy price, and management regimes. We developed a subroutine to simulate dredging costs based on the price of crude oil and a project efficiency factor. Crude oil prices were projected using forecasts from global energy models. The costs to sustain marsh between 2016 and 2100 changed from $128,000/ha in the no change scenario to ~$1,010,000/ha in the worst-case scenario for sea level rise and energy price, an ~8-fold increase. Increasing suspended sediment concentrations, which is possible using managed river diversions, raised created marsh lifespan and decreased long term dredging costs. Created marsh lifespan changed nonlinearly with dredging fill elevation and suspended sediment level. Cost effectiveness of marsh creation and nourishment can be optimized by adjusting dredging fill elevation to the local sediment regime. Regardless of management scenario, sustaining the MRDP with hydraulic dredging suffered declining returns on investment due to the convergence of energy and climate trends. Marsh creation will likely become unaffordable in the mid to late 21st century, especially if river sediment diversions are not constructed before 2030. We recommend that environmental managers take into consideration coupled energy and climate scenarios for long-term risk assessments and adjust restoration goals accordingly. Copyright © 2017 Elsevier B.V. All rights reserved.

  3. Producer prices in tropical Africa : a review of official prices for agricultural products, 1960-1980

    NARCIS (Netherlands)

    Hesp, P.; African Studies Centre, Leiden

    1985-01-01

    Summ.: An inventory of government-regulated producer prices in tropical Africa for the period 1960-1980. Statistical data are presented for 29 countries and 11 major crops (seven export crops and four food crops). A review of price movements indicate that: there has been a general and rapid rise in

  4. The Curse of Wealth – Middle Eastern Countries Need to Address the Rapidly Rising Burden of Diabetes

    Directory of Open Access Journals (Sweden)

    Lisa Klautzer

    2014-04-01

    Full Text Available The energy boom of the last decade has led to rapidly increasing wealth in the Middle East, particularly in the oil and gas-rich Gulf Cooperation Council (GCC countries. This exceptional growth in prosperity has brought with it rapid changes in lifestyles that have resulted in a significant rise in chronic disease. In particular the number of people diagnosed with diabetes has increased dramatically and health system capacity has not kept pace. In this article, we summarize the current literature to illustrate the magnitude of the problem, its causes and its impact on health and point to options how to address it.

  5. The curse of wealth – Middle Eastern countries need to address the rapidly rising burden of diabetes

    Science.gov (United States)

    Klautzer, Lisa; Becker, Joachim; Mattke, Soeren

    2014-01-01

    The energy boom of the last decade has led to rapidly increasing wealth in the Middle East, particularly in the oil and gas-rich Gulf Cooperation Council (GCC) countries. This exceptional growth in prosperity has brought with it rapid changes in lifestyles that have resulted in a significant rise in chronic disease. In particular the number of people diagnosed with diabetes has increased dramatically and health system capacity has not kept pace. In this article, we summarize the current literature to illustrate the magnitude of the problem, its causes and its impact on health and point to options how to address it. PMID:24757686

  6. Direct and Indirect Use of Fossil Fuels in Farming: Cost of Fuel-price Rise for Indian Agriculture.

    OpenAIRE

    Anand, Mukesh

    2014-01-01

    A hornet's nest could be an apt simile for fossil fuel prices in India. Over years a policy maze has evolved around it, with sharply diverging influence on disparate constituencies. We estimate the increase in total cost of farming as a multiple of direct input costs of fossil fuels in farming. Over the period between 1990-1 and 2010-1, direct use of fossil fuels on farms has risen and there is also increasing indirect use of fossil fuels for non-energy purposes. Consequently, for Indian agri...

  7. On the Rapid Rise of Social Networking Sites: New Findings and Policy Implications

    Science.gov (United States)

    Livingstone, Sonia; Brake, David R

    2010-01-01

    Social networking sites have been rapidly adopted by children and, especially, teenagers and young people worldwide, enabling new opportunities for the presentation of the self, learning, construction of a wide circle of relationships, and the management of privacy and intimacy. On the other hand, there are also concerns that social networking…

  8. Rapid Cenozoic Subsidence in the Gulf of Mexico Resulting From Hess Rise Conjugate Subduction

    Science.gov (United States)

    Wang, Huilin; Gurnis, Michael; Skogseid, Jakob

    2017-11-01

    Enigmatic surface deflections occurred in North America starting from the Cretaceous, including the continental-scale drainage reorganization and the long-wavelength subsidence in the Western Interior Seaway. These surface undulations cannot be simply explained by sea level change or flexure loading. Coinciding with the large-scale surface deflection, the Gulf of Mexico (GOM) has an immense Paleocene sediment deposition probably caused by tectonic subsidence. Increasing evidence indicates a distinct seismic anomaly localized in the mantle below the GOM. With geodynamic models, we show that the Hess Rise conjugate coincides with the position of the seismic anomaly. The basalt-eclogite transition in the Hess conjugate can lead to a localized dynamic subsidence in the GOM, which is superimposed on the broad surface deflection caused by the Farallon slab. The Hess conjugate, transformed to eclogite, could tilt the surface southward in the U.S. and help frame the GOM as a main depocenter in the Cenozoic.

  9. Coral mass spawning predicted by rapid seasonal rise in ocean temperature

    KAUST Repository

    Keith, Sally A.

    2016-05-11

    Coral spawning times have been linked to multiple environmental factors; however, to what extent these factors act as generalized cues across multiple species and large spatial scales is unknown. We used a unique dataset of coral spawning from 34 reefs in the Indian and Pacific Oceans to test if month of spawning and peak spawning month in assemblages of Acropora spp. can be predicted by sea surface temperature (SST), photosynthetically available radiation, wind speed, current speed, rainfall or sunset time. Contrary to the classic view that high mean SST initiates coral spawning, we found rapid increases in SST to be the best predictor in both cases (month of spawning: R2 = 0.73, peak: R2 = 0.62). Our findings suggest that a rapid increase in SST provides the dominant proximate cue for coral mass spawning over large geographical scales. We hypothesize that coral spawning is ultimately timed to ensure optimal fertilization success.

  10. Projections of rapidly rising surface temperatures over Africa under low mitigation

    Science.gov (United States)

    Engelbrecht, Francois; Adegoke, Jimmy; Bopape, Mary-Jane; Naidoo, Mogesh; Garland, Rebecca; Thatcher, Marcus; McGregor, John; Katzfey, Jack; Werner, Micha; Ichoku, Charles; Gatebe, Charles

    2015-08-01

    An analysis of observed trends in African annual-average near-surface temperatures over the last five decades reveals drastic increases, particularly over parts of the subtropics and central tropical Africa. Over these regions, temperatures have been rising at more than twice the global rate of temperature increase. An ensemble of high-resolution downscalings, obtained using a single regional climate model forced with the sea-surface temperatures and sea-ice fields of an ensemble of global circulation model (GCM) simulations, is shown to realistically represent the relatively strong temperature increases observed in subtropical southern and northern Africa. The amplitudes of warming are generally underestimated, however. Further warming is projected to occur during the 21st century, with plausible increases of 4-6 °C over the subtropics and 3-5 °C over the tropics by the end of the century relative to present-day climate under the A2 (a low mitigation) scenario of the Special Report on Emission Scenarios. High impact climate events such as heat-wave days and high fire-danger days are consistently projected to increase drastically in their frequency of occurrence. General decreases in soil-moisture availability are projected, even for regions where increases in rainfall are plausible, due to enhanced levels of evaporation. The regional dowscalings presented here, and recent GCM projections obtained for Africa, indicate that African annual-averaged temperatures may plausibly rise at about 1.5 times the global rate of temperature increase in the subtropics, and at a somewhat lower rate in the tropics. These projected increases although drastic, may be conservative given the model underestimations of observed temperature trends. The relatively strong rate of warming over Africa, in combination with the associated increases in extreme temperature events, may be key factors to consider when interpreting the suitability of global mitigation targets in terms of African

  11. Sedimentary Evidence for a Rapid Sea Level Rise at 7,600 cal yr BP from North-Central Cuba

    Science.gov (United States)

    Peros, M. C.; Agosta G'meiner, A. M.; Collins, S.

    2016-12-01

    A lack of high-resolution relative sea level (RSL) proxy data has meant that the pattern of early Holocene RSL change in the Caribbean is poorly understood. A RSL curve published by Toscano and Macintyre (2003) using inter-tidal mangrove peats and submerged corals suggests RSL underwent a relatively fast and `smooth' curvilinear increase during the Holocene. However, others, such as Blanchon and Shaw (1995), suggest that RSL increased rapidly at around 7600 cal yr BP, in response to the final stages of the melting of the Laurentide Ice Sheet (melt water pulse 1C or catastrophic rise event 3). We investigated this question using multi-proxy data from a flooded sinkhole (Cenote Jennifer) on the north coast of central Cuba. Cenote Jennifer is located 7 m above mean sea level and 2 km from the Bahamas Channel and appears to have a high degree of connectivity with the ocean through a network of underground caverns. The water depth is 13 m and the bottommost 5 m is anoxic. A sediment core collected from Cenote Jennifer was studied using loss-on-ignition, pollen analysis, high-resolution XRF core-scanning, and grain size analysis. An age-depth model was generated for the core by AMS dating. The results show that the bottommost stratigraphic unit ( 9000 to 7600 cal yr BP) is a fine-grained carbonate-rich mud (i.e., marl). This unit abruptly transitions into finely laminated organic-rich sediment from 7600 cal yr BP to the present. The pollen analysis shows that the sinkhole supported a cattail (Typha) community until 7600 cal yr BP, indicating low water levels ( 1 m). At 7600 cal yr BP, the cattail community disappeared and the vegetation of the surrounding bedrock became dominated by a thorny coastal scrubland. In addition, a 3 cm thick fining-upward siliciclastic unit is present immediately above the marl-organic contact, suggesting: 1) a marine sediment source given the limestone-dominated nature of the region, and 2) the presence of a short-duration, high

  12. Economic impact of rapid diagnostic methods in Clinical Microbiology: Price of the test or overall clinical impact.

    Science.gov (United States)

    Cantón, Rafael; Gómez G de la Pedrosa, Elia

    2017-12-01

    The need to reduce the time it takes to establish a microbiological diagnosis and the emergence of new molecular microbiology and proteomic technologies has fuelled the development of rapid and point-of-care techniques, as well as the so-called point-of-care laboratories. These laboratories are responsible for conducting both techniques partially to response to the outsourcing of the conventional hospital laboratories. Their introduction has not always been accompanied with economic studies that address their cost-effectiveness, cost-benefit and cost-utility, but rather tend to be limited to the unit price of the test. The latter, influenced by the purchase procedure, does not usually have a regulated reference value in the same way that medicines do. The cost-effectiveness studies that have recently been conducted on mass spectrometry in the diagnosis of bacteraemia and the use of antimicrobials have had the greatest clinical impact and may act as a model for future economic studies on rapid and point-of-care tests. Copyright © 2017 Elsevier España, S.L.U. and Sociedad Española de Enfermedades Infecciosas y Microbiología Clínica. All rights reserved.

  13. Rapidly rising incidence of childhood type 1 diabetes in Chinese population: epidemiology in Shanghai during 1997-2011.

    Science.gov (United States)

    Zhao, Zhuhui; Sun, Chengjun; Wang, Chunfang; Li, Pin; Wang, Wei; Ye, Jun; Gu, Xuefan; Wang, Xiaodong; Shen, Shuixian; Zhi, Dijing; Lu, Zhong; Ye, Rong; Cheng, Ruoqian; Xi, Li; Li, Xiaojing; Zheng, Zhangqian; Zhang, Miaoying; Luo, Feihong

    2014-12-01

    The aim of this study was to investigate incidence trend of childhood type 1 diabetes in Shanghai, a megalopolis in east China. We established a population-based retrospective registry for the disease in the city's registered population during 1997-2011 and collected 622 incident type 1 diabetes in children aged 0-14 years. Standardized incidence rates and 95 % CI were estimated by applying the capture-recapture method and assuming Poisson distribution. Incidence trend was analyzed using the Poisson regression model. The mean annual incidence of childhood type 1 diabetes was 3.1 per 100,000 person-years. We did not observe significant difference in incidence between boys and girls. The incidence is unstable and had a mean annual increase 14.2 % per year during the studied period. A faster annual increase was observed in boys, warmer seasons, and in the outer regions of the city. If present trends continue, the number of new type 1 diabetes cases will double from 2016 to 2020, and prevalent cases will sextuple by 2025. Our results showed the incidence of childhood type 1 diabetes was rising rapidly in Shanghai. More studies are needed to analyze incidence changes in other regions of China for appropriate allocation of healthcare resources.

  14. Comparison of the effects of conditional food and cash transfers of the Ethiopian Productive Safety Net Program on household food security and dietary diversity in the face of rising food prices: ways forward for a more nutrition-sensitive program.

    Science.gov (United States)

    Baye, Kaleab; Retta, Negussie; Abuye, Cherinet

    2014-09-01

    In light of the continuing rise in food prices during and after the 2008 world food crisis, whether food and cash transfers are equally effective in improving food security and diet quality is debatable. To compare the effects of conditional food and cash transfers of the Ethiopian Productive Safety Net Program (PSNP) on household food security and dietary diversity. Data on household dietary diversity, child anthropometry, food security, and preference of transfer modalities (food, cash, or mixed) were generated from a cross-sectional survey of 195 PSNP beneficiary households (67 receiving food and 128 receiving cash) in Hawella Tulla District, Sidama, southern Ethiopia. Most beneficiaries (96%) reported food shortages, and 47% reported food shortages that exceeded 3 months. Households receiving cash had better household dietary diversity scores (p = .02) and higher consumption of oils and fats (p = .003) and vitamin A-rich foods (p = .002). Compared with households receiving food, households receiving cash were more affected by increases in food prices that forced them to reduce their number of daily meals (p food (82%) preferred to continue receiving food, households receiving cash (56%) preferred a mix of food and cash. Households receiving cash had better household dietary diversity than households receiving food, a result suggesting that cash transfers may be more effective. However, the continuing rise infood prices may offset these benefits unless cash transfers are index-linked to food price fluctuations.

  15. Chemotherapy of colorectal liver metastases induces a rapid rise in intermediate blood monocytes which predicts treatment response

    Science.gov (United States)

    Schauer, Dominic; Starlinger, Patrick; Alidzanovic, Lejla; Zajc, Philipp; Maier, Thomas; Feldman, Alexandra; Padickakudy, Robin; Buchberger, Elisabeth; Elleder, Vanessa; Spittler, Andreas; Stift, Judith; Pop, Lorand; Gruenberger, Birgit; Gruenberger, Thomas; Brostjan, Christine

    2016-01-01

    ABSTRACT We have previously reported that intermediate monocytes (CD14++/CD16+) were increased in colorectal cancer (CRC) patients, while the subset of pro-angiogenic TIE2-expressing monocytes (TEMs) was not significantly elevated. This study was designed to evaluate changes in frequency and function of intermediate monocytes and TEMs during chemotherapy and anti-angiogenic cancer treatment and their relation to treatment response. Monocyte populations were determined by flow cytometry in 60 metastasized CRC (mCRC) patients who received neoadjuvant chemotherapy with or without bevacizumab. Blood samples were taken before treatment, after two therapy cycles, at the end of neoadjuvant therapy and immediately before surgical resection of liver metastases. Neoadjuvant treatment resulted in a significant increase in circulating intermediate monocytes which was most pronounced after two cycles and positively predicted tumor response (AUC = 0.875, p = 0.005). With a cut-off value set to 1% intermediate monocytes of leukocytes, this parameter showed a predictive sensitivity and specificity of 75% and 88%. Anti-angiogenic therapy with bevacizumab had no impact on monocyte populations including TEMs. In 15 patients and six healthy controls, the gene expression profile and the migratory behavior of monocyte subsets was evaluated. The profile of intermediate monocytes suggested functions in antigen presentation, inflammatory cytokine production, chemotaxis and was remarkably stable during chemotherapy. Intermediate monocytes showed a preferential migratory response to tumor-derived signals in vitro and correlated with the level of CD14+/CD16+ monocytic infiltrates in the resected tumor tissue. In conclusion, the rapid rise of intermediate monocytes during chemotherapy may offer a simple marker for response prediction and a timely change in regimen. PMID:27471631

  16. Temperature and humidity based projections of a rapid rise in global heat stress exposure during the 21st century

    Science.gov (United States)

    Coffel, Ethan D.; Horton, Radley M.; de Sherbinin, Alex

    2018-01-01

    As a result of global increases in both temperature and specific humidity, heat stress is projected to intensify throughout the 21st century. Some of the regions most susceptible to dangerous heat and humidity combinations are also among the most densely populated. Consequently, there is the potential for widespread exposure to wet bulb temperatures that approach and in some cases exceed postulated theoretical limits of human tolerance by mid- to late-century. We project that by 2080 the relative frequency of present-day extreme wet bulb temperature events could rise by a factor of 100–250 (approximately double the frequency change projected for temperature alone) in the tropics and parts of the mid-latitudes, areas which are projected to contain approximately half the world’s population. In addition, population exposure to wet bulb temperatures that exceed recent deadly heat waves may increase by a factor of five to ten, with 150–750 million person-days of exposure to wet bulb temperatures above those seen in today’s most severe heat waves by 2070–2080. Under RCP 8.5, exposure to wet bulb temperatures above 35 °C—the theoretical limit for human tolerance—could exceed a million person-days per year by 2080. Limiting emissions to follow RCP 4.5 entirely eliminates exposure to that extreme threshold. Some of the most affected regions, especially Northeast India and coastal West Africa, currently have scarce cooling infrastructure, relatively low adaptive capacity, and rapidly growing populations. In the coming decades heat stress may prove to be one of the most widely experienced and directly dangerous aspects of climate change, posing a severe threat to human health, energy infrastructure, and outdoor activities ranging from agricultural production to military training.

  17. PRICE AND PRICING STRATEGIES

    OpenAIRE

    Titus SUCIU

    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...

  18. Supermarket Promotions and Food Prices

    OpenAIRE

    Lan, H.; Lloyd, T. A.; Morgan, C. W.

    2014-01-01

    Using a sample comprising nearly a quarter of a million weekly prices from the largest seven supermarket chains in the UK, we present statistical evidence on two pricing practices that have attracted public interest. Analysing price dynamics before and after periods of promotional discounting the investigation finds first, no evidence of a general tendency for sales to disguise rises in the regular price, and second, some evidence for prices to rise prior to sales in a manner that is consiste...

  19. 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.

  20. A current-pulsed power supply with rapid rising and falling edges for magnetic perturbation coils on the J-TEXT tokamak

    Energy Technology Data Exchange (ETDEWEB)

    Yan, M.X. [State Key Laboratory of Advanced Electromagnetic Engineering and Technology, Huazhong University of Science and Technology, Wuhan 430074 (China); College of Electrical and Electronic Engineering, Huazhong University of Science and Technology, Wuhan 430074 (China); Rao, B., E-mail: borao@hust.edu.cn [State Key Laboratory of Advanced Electromagnetic Engineering and Technology, Huazhong University of Science and Technology, Wuhan 430074 (China); College of Electrical and Electronic Engineering, Huazhong University of Science and Technology, Wuhan 430074 (China); Ding, Y.H.; Hu, Q.M.; Hu, F.R.; Li, D.; Li, M.; Ji, X.K.; Xu, G.; Zheng, W.; Jiang, Z.H. [State Key Laboratory of Advanced Electromagnetic Engineering and Technology, Huazhong University of Science and Technology, Wuhan 430074 (China); College of Electrical and Electronic Engineering, Huazhong University of Science and Technology, Wuhan 430074 (China)

    2017-02-15

    Highlights: • The power supply is required to have rapid rising and falling edges. • A modified topology based on the buck chopper of current-pulsed power supply is presented and analyzed. • An entity meeting the electrical requirements has been constructed. • The spike voltage of IGBT is qualitatively analyzed. - Abstract: This study presents the design and principle of a current-pulsed power supply (CPPS) for the tearing mode (TM) feedback control of the J-TEXT tokamak. CPPS is a new method of stabilizing large magnetic islands and accelerating mode rotation through the use of modulated magnetic perturbation. In this application, continuous magnetic perturbation pulse trains with frequency of 1 kHz to kHz, amplitude of 0.25 G, and duty ratio of 20%–50% are required generating via in-vessel magnetic coils. A modified topology based on buck chopper is raised to satisfy the demands of inductive load. This modified topology is characterized by high frequency, rapid rising and falling edges, and large amplitude of current pulses. Appropriate RCD snubber circuit is applied to protect the Insulated Gate Bipolar Transistor (IGBT) switch device. Equipment with peak current that reaches 1 kA, frequency that ranges from 1 kHz to 3 kHz, and rising and falling time within 100 μs was constructed and applied to physical experiment.

  1. Pricing Schemes in Cloud Computing: An Overview

    OpenAIRE

    Artan Mazrekaj; Isak Shabani; Besmir Sejdiu

    2016-01-01

    Cloud Computing is one of the technologies with rapid development in recent years where there is increasing interest in industry and academia. This technology enables many services and resources for end users. With the rise of cloud services number of companies that offer various services in cloud infrastructure is increased, thus creating a competition on prices in the global market. Cloud Computing providers offer more services to their clients ranging from infrastructure as a service (IaaS...

  2. The Daniel K. Inouye College of Pharmacy Scripts: Prescription Drug Pricing.

    Science.gov (United States)

    Sumida, Wesley K; Taniguchi, Ronald; Juarez, Deborah Taira

    2016-01-01

    Prescription drugs have reduced morbidity and mortality and improved the quality of life of millions of Americans. Yet, concerns over drug price increases loom. Drug spending has risen relatively slowly over the past decade because many of the most popular brand-name medicines lost patent protection. In the near future, there will be fewer low-cost generics coming into the market to offset the rising prices of brand-name drugs. Drug expenditures are influenced by both volume and price. This article focuses on how drug prices are set in the United States and current trends. Drug prices are determined through an extremely complicated set of interactions between pharmaceutical manufacturers, wholesalers, retailers, insurers, pharmacy benefit managers (PBMs), managed care organizations, hospitals, chain stores, and consumers. The process differs depending on the type of drug and place of delivery. Rising drug prices have come under increased scrutiny due to increased cost inflation and because many price increases come as a result of mergers and acquisitions of generic drug companies or changes in ownership of brand name drug manufacturers. Other countries have reigned in drug prices by negotiating with or regulating pharmaceutical manufacturers. The best long-term solution to rising drug prices is yet to be determined but the United States will continue to debate this issue and the discussions will get more heated if drug expenditures continue to rise at a rapid rate (ie, increasing 13% in 2014 from the previous year).

  3. Lung Cancer in a Rural Area of China: Rapid Rise in Incidence and Poor Improvement in Survival.

    Science.gov (United States)

    Yang, Juan; Zhu, Jian; Zhang, Yong-Hui; Chen, Yong-Sheng; Ding, Lu-Lu; Kensler, Thomas W; Chen, Jian-Guo

    2015-01-01

    Lung cancer has been a major health problem in developed countries for several decades, and has emerged recently as the leading cause of cancer death in many developing countries. The incidence of lung cancer appears to be increasing more rapidly in rural than in urban areas of China. This paper presents the trends of lung cancer incidence and survival derived from a 40-year population-based cancer monitoring program in a rural area, Qidong, China. The Qidong cancer registration data of 1972- 2011 were used to calculate the crude rate, age-standardized rate by Chinese population (CASR) and by world population (WASR), birth cohort rates, and other descriptive features. Active and passive methods were used to construct the data set, with a deadline of the latest follow-up of April 30, 2012. The total number of lung cancer cases was 15,340, accounting for 16.5% of all sites combined. The crude incidence rate, CASR and WASR of this cancer were 34.1, 15.7 and 25.4 per 100,000, respectively. Males had higher crude rates than females (49.7 vs 19.0). Rapidly increasing trends were found in annual percent change resulting in lung cancer being a number one cancer site after year 2010 in Qidong. Birth cohort analysis showed incidence rates have increased for all age groups over 24 years old. The 5 year observed survival rates were 3.55% in 1973-1977, 3.92 in 1983-1987, 3.69% in 1993-1997, and 6.32% in 2003-2007. Males experienced poorer survival than did females. Lung cancer has become a major cancer-related health problem in this rural area. The rapid increases in incidence likely result from an increased cigarette smoking rate and evolving environmental risk factors. Lung cancer survival, while showing some improvement in prognosis, still remains well below that observed in the developed areas of the world.

  4. The Role of the Silicon Cycle in the Eocene-Oligocene Transition: Rapid Rise in Diatom-δ30Si

    Science.gov (United States)

    Egan, K. E.; Rickaby, R. E.; Leng, M. J.; Halliday, A. N.

    2011-12-01

    The Eocene-Oligocene (E-O) boundary represents a time of major climatic change which heralded the descent of Earth's climate from earlier greenhouse conditions into today's icehouse world. Decline of atmospheric CO2 levels, development of major ice sheets on Antarctica and initiation of the Antarctic Circumpolar Current around 34Ma ago dramatically changed the state of the atmosphere, cryosphere and hydrosphere: Major isotopic excursions are seen in both marine oxygen and carbon cycles, and yet the mechanisms behind this transition are still not fully understood. Unravelling the causes of such a significant climatic shift is essential to furthering our grasp on the mechanisms that control climate. The silicon isotope composition (δ30Si) preserved in diatom opal provides a window to the E-O Silicon cycle. The Silicon cycle is a key player in controlling atmospheric CO2 levels for two reasons. Firstly, weathering of silicate minerals acts to draw down CO2 into the ocean and ultimately sediments. Secondly, carbon export from the surface ocean by diatoms, siliceous walled phytoplankton, facilitates carbon transport to a deep ocean sink. We present a long term record of diatom-δ30Si record covering 37Ma to 25Ma, with E-O boundary targeted higher resolution (sponge spicule-δ30Si of ~2% seen by De La Rocha (2003) in sediments from the Maud Rise (ODP site 689). Taken together, these records demonstrate that changes are occurring in both the surface and deep waters of the Southern Ocean across this boundary. We will discuss the implications this has for silicon cycling across the E-O transition, in terms of variation in both weathering and diatom productivity, and the impact that this may have had on global climate.

  5. TRANSMISSION BETWEEN RETAIL AND PRODUCER PRICES FOR MAIN VEGETABLE CROPS IN TUNISIA

    Directory of Open Access Journals (Sweden)

    Houcine Jeder

    2017-01-01

    Full Text Available Recently in Tunisia, vegetables prices increased rapidly, especially green pepper, tomato and potato. The sharp rise in prices led to the deterioration of consumer’s purchasing power and the depletion of their food basket. Since price is the mechanism linking the different stages of the production chain, information on price transmission and causality can provide guidance on the actions to be taken by the actors. The results of the price transmission show a long-term relationship between retail prices and producer prices. The important role played by intermediaries influences the symmetric transmission mode. In the case of tomatoes, the transmission is asymmetric and the causality has gone from retail to producer prices, whereas for potatoes the transmission is symmetrical and the causality of production prices towards the retail price. For green pepper the transmission is also symmetrical and the causality is from retail price to the production price. The transmission depends on the causality but it also depends on the supply of the market and if the product is storable or not. Actions to be undertaken by the actors must concentrate on the control and transparency of commercial transactions along the food chain. Prices regulation must be placed on the wholesale level and not on the level of the producers in order to clear the margin of intermediaries and avoid the shortage of certain products in markets.

  6. Rise and fall of a wolf population: genetic diversity and structure during recovery, rapid expansion and drastic decline.

    Science.gov (United States)

    Jansson, E; Ruokonen, M; Kojola, I; Aspi, J

    2012-11-01

    The grey wolves (Canis lupus) of Finland have had a varied history, with a period of rapid population expansion after the mid-1990s followed by a decline with a current census size of about 140 wolves. Here, we investigate the impact of unstable population size and connectivity on genetic diversity and structure in a long-term genetic study of 298 Finnish wolves born in 1995-2009 and genotyped for 17 microsatellite loci. During the initial recovery and prior to population expansion, genetic diversity was high (1995-1997: LD-N(e)  = 67.2; H(o)  = 0.749; H(e)  = 0.709) despite a small census size and low number of breeders (N(c)  < 100; N(b)  < 10) likely reflecting the status of the Russian source population. Surprisingly, observed heterozygosity decreased significantly during the study period (t = -2.643, P = 0.021) despite population expansion, likely a result of an increase in inbreeding (F(IS)  = 0.108 in 2007-2009) owing to a low degree of connectivity with adjacent Russian wolf population (m = 0.016-0.090; F(ST)  = 0.086, P < 0.001) and population crash after 2006. However, population growth had a temporary positive impact on N(e) and number of family lines. This study shows that even strong population growth alone might not be adequate to retain genetic diversity, especially when accompanied with low amount of subsequent gene flow and population decline. © 2012 Blackwell Publishing Ltd.

  7. Drowning of a barrier coastline under rapid rates of relative sea-level rise during the 8.2 ka cooling event: Cause or coincidence?

    Science.gov (United States)

    Mellett, C.; Hodgson, D. M.; Lang, A.; Mauz, B.; Plater, A. J.

    2012-12-01

    Examples where barrier landforms and deposits are preserved offshore of a highstand shoreline are rare on contemporary continental shelves, and in the rock record. Therefore, understanding of the conditions required for preservation and the sedimentary processes-response to such factors is limited and heavily dependent on simulation models. Here, an integrated dataset of multibeam bathymetry and 2D seismic reflection profiles has uncovered an exceptionally well preserved drowned barrier complex at Hastings Bank, on the English Channel continental shelf, offshore of southeast England. Mapping of nine seismic stratigraphic units calibrated with lithological information from multiple vibrocores has enabled the interpretation of fluvial, shoreface, barrier, washover fan, back-barrier and tidal environments of deposition. Stratigraphic architecture is used as the basis for landscape evolution reconstructions that reveal phases of barrier progradation, degradation and retreat. Optical Stimulated Luminescence (OSL) dating of shoreface and beach deposits revealed ages in the range of 8.4 ± 0.2 ka and 7.8 ± 0.2 ka. These ages indicate the barrier developed under rapid rates of early Holocene sea-level rise and more specifically, correlate to the time period surrounding the 8.2 ka cooling event and associated sea-level 'jump'. To preserve a barrier beach including the barrier foreshore under such rapid rates of relative sea-level rise, sediment supply would have to be sufficient to keep pace to prevent the shoreline responding through continuous reworking, i.e. rollover. Further, the rate of transgression is conditioned by inherited topography with higher rates of retreat, and hence greater potential for drowning, expected across the shallowly dipping substrate. Using Hastings Bank as an example, it has also been demonstrated that the morphodynamic state of the barrier complex in terms of its ability to respond dynamically to relative sea-level rise, conditions its

  8. The ethics and economics of pharmaceutical pricing.

    Science.gov (United States)

    Parker-Lue, Sara; Santoro, Michael; Koski, Greg

    2015-01-01

    The cost of drugs is a major and rapidly rising component of health-care expenditures. We survey recent literature on the ethics and economics of skyrocketing pharmaceutical prices and find that advances in economic research have increased the sharpness and focus of the ethically based calls to increase access by modifying patent protection and reducing prices. In some cases, research supports ethical arguments for broader access. Other research suggests that efforts to broaden access result in unintended consequences for innovation and the medical needs of patients. Both ethicists and economists need to be more cognizant of the real clinical settings in which physicians practice medicine with real patients. Greater cross-disciplinary interaction among economists, ethicists, and physicians can help reduce the disjunction between innovation and access and improve access and patient care. This dialogue will impact private industry and may spur new multistakeholder paradigms for drug discovery, development, and pricing.

  9. Power Laws in Real Estate Prices during Bubble Periods

    Science.gov (United States)

    Ohnishi, Takaaki; Mizuno, Takayuki; Shimizu, Chihiro; Watanabe, Tsutomu

    How can we detect real estate bubbles? In this paper, we propose making use of information on the cross-sectional dispersion of real estate prices. During bubble periods, prices tend to go up considerably for some properties, but less so for others, so that price inequality across properties increases. In other words, a key characteristic of real estate bubbles is not the rapid price hike itself but a rise in price dispersion. Given this, the purpose of this paper is to examine whether developments in the dispersion in real estate prices can be used to detect bubbles in property markets as they arise, using data from Japan and the U.S. First, we show that the land price distribution in Tokyo had a power-law tail during the bubble period in the late 1980s, while it was very close to a lognormal before and after the bubble period. Second, in the U.S. data we find that the tail of the house price distribution tends to be heavier in those states which experienced a housing bubble. We also provide evidence suggesting that the power-law tail observed during bubble periods arises due to the lack of price arbitrage across regions.

  10. Rising food prices and household food security

    African Journals Online (AJOL)

    eating indigenous, traditional foods that grew in the wild. In terms of the latter, foods growing in the wild should be seen as a source of nutrition, rather than being associated with poverty. Approximately. 50% of participants started planting vegetable gardens for food availability and subsistence. This reiterates the importance ...

  11. Rising food prices and household food security

    African Journals Online (AJOL)

    For many South Africans a healthy, balanced diet is elusive. Food security in both urban and rural South Africa is heavily dependent on cash incomes for household purchase of food for consumption,1 which, in a context of high unemployment, is largely reliant on social grants.2 This safety net does not reach all those ...

  12. Chance findings about early holocene tidal marshes of Grays Harbor, Washington, in relation to rapidly rising seas and great subduction earthquakes

    Science.gov (United States)

    Phipps, James B.; Hemphill-Haley, Eileen; Atwater, Brian F.

    2015-06-18

    Tidal marshes commonly build upward apace with gradual rise in the level of the sea. It is expected, however, that few tidal marshes will keep up with accelerated sea-level rise later in this century. Tidal marshes have been drowned, moreover, after subsiding during earthquakes.

  13. Mind your pricing cues.

    Science.gov (United States)

    Anderson, Eric; Simester, Duncan

    2003-09-01

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

  14. Evolution of the East Pacific Rise at 16° 19° S since 5 Ma: Bisection of overlapping spreading centers by new, rapidly propagating ridge segments

    Science.gov (United States)

    Cormier, Marie-Helene; Scheirer, Daniel S.; MacDonald, Ken C.

    1996-02-01

    Nearly complete side-scan, bathymetry and magnetic coverage documents the evolution of the geometry of the East Pacific Rise (EPR) between 16° and 19° S since 5 Ma. Lineaments visible in SeaMARC II, H-MR1 and Sea Beam 2000 side-scan data correspond dominantly to normal fault scarps which have developed in the axial region perpendicular to the least compressive stress. Except near overlapping spreading centers (OSCs), the lineament orientations are taken to represent the perpendicular to the instantaneous Pacific-Nazca spreading direction. Their dominant orientation in the axial region is 012°, in good agreement with the prediction of the current model of relative plate motion (DeMets et al., 1994). However, the variations of the lineament azimuths with age show that there has been a small (3° 5°) clockwise change in the Nazca-Pacific relative motion since 5 Ma. There is also a distinct population of lineaments which strike counterclockwise to the ambient orientation. These discordant lineaments form somewhat coherent patterns on the seafloor and represent the past migration tracks of several left-stepping OSCs. Concurrent analysis of these discordant zones and the magnetic anomalies, reveals that up to 1 Ma, the EPR was offset by a few large, left-stepping OSCs. These OSCs were bisected into smaller OSCs by new spreading segments forming within their overlap basins. The smaller OSCs proceeded to migrate rapidly and were further bisected by newly spawned ridge segments until the present staircase of small, left-stepping OSCs was achieved. By transferring lithosphere from one plate to the other, these migration events account remarkably well for the variable spreading asymmetry in the area. Between 16° and 19° S, the present EPR is magmatically very “robust”, as evidenced by its inflated morphology, the profuse volcanic and hydrothermal activity observed from submerisbles and towed cameras, the geochemistry of axial basalts, and seismic and gravity data

  15. Transfer Pricing

    DEFF Research Database (Denmark)

    Nielsen, Søren Bo

    2014-01-01

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

  16. Availability and price of malaria rapid diagnostic tests in the public and private health sectors in 2011: results from 10 nationally representative cross-sectional retail surveys.

    Science.gov (United States)

    Poyer, Stephen; Shewchuk, Tanya; Tougher, Sarah; Ye, Yazoume; Mann, Andrea G; Willey, Barbara A; Thomson, Rebecca; Amuasi, John H; Ren, Ruilin; Wamukoya, Marilyn; Taylor, Mark; Nguah, Samuel Blay; Mberu, Blessing; Kalolella, Admirabilis; Juma, Elizabeth; Festo, Charles; Johanes, Boniface; Diap, Graciela; Bruxvoort, Katia; Ansong, Daniel; Hanson, Kara; Arnold, Fred; Goodman, Catherine

    2015-06-01

    To describe the state of the public and private malaria diagnostics market shortly after WHO updated its guidelines for testing all suspected malaria cases prior to treatment. Ten nationally representative cross-sectional cluster surveys were conducted in 2011 among public and private health facilities, community health workers and retail outlets (pharmacies and drug shops) in nine countries (Tanzania mainland and Zanzibar surveyed separately). Eligible outlets had antimalarials in stock on the day of interview or had stocked antimalarials in the past 3 months. Three thousand four hundred and thirty-nine rapid diagnostic test (RDT) products from 39 manufacturers were audited among 12,197 outlets interviewed. Availability was typically highest in public health facilities, although availability in these facilities varied greatly across countries, from 15% in Nigeria to >90% in Madagascar and Cambodia. Private for-profit sector availability was 46% in Cambodia, 20% in Zambia, but low in other countries. Median retail prices for RDTs in the private for-profit sector ranged from $0.00 in Madagascar to $3.13 in Zambia. The reported number of RDTs used in the 7 days before the survey in public health facilities ranged from 3 (Benin) to 50 (Zambia). Eighteen months after WHO updated its case management guidelines, RDT availability remained poor in the private sector in sub-Saharan Africa. Given the ongoing importance of the private sector as a source of fever treatment, the goal of universal diagnosis will not be achievable under current circumstances. These results constitute national baselines against which progress in scaling-up diagnostic tests can be assessed. © 2015 John Wiley & Sons Ltd.

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

    Science.gov (United States)

    Aaronson, Daniel; French, Eric; MacDonald, James

    2008-01-01

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

  18. the Rising Profile of Modern Nigerian Art

    African Journals Online (AJOL)

    FIRST LADY

    2011-01-18

    Jan 18, 2011 ... Art Pricing and the Nigerian Economy, 1960-2008; the. Rising Profile of Modern Nigerian ... for a piece of painting by a Nigerian artist to be priced for so much as five hundred guineas(about five ..... up sculptural pieces, mural, or mosaic works on new buildings built all over the country. By beginning of the ...

  19. Higher Fuel and Food Prices : Impacts and Responses for Mozambique

    OpenAIRE

    World Bank

    2008-01-01

    The dramatic increases in world food and fuel prices during 2007 and early 2008 may set back Mozambique's considerable advances in poverty reduction during the past decade. This study assesses the impact of higher fuel and food prices at both household and macroeconomic levels, and also considers policy options to mitigate some of the negative impacts of higher prices. Rising world prices ...

  20. Transfer Pricing

    DEFF Research Database (Denmark)

    Rohde, Carsten; Rossing, Christian Plesner

    trade internally as the units have to decide what prices should be paid for such inter-unit transfers. One important challenge is to uncover the consequences that different transfer prices have on the willingness in the organizational units to coordinate activities and trade internally. At the same time...

  1. Spatiotemporal Effects of Main Impact Factors on Residential Land Price in Major Cities of China

    Directory of Open Access Journals (Sweden)

    Shengfu Yang

    2017-11-01

    Full Text Available With the rapid development of land marketization in China, the spatial patterns of residential land prices in different regions have become increasingly complicated. The very high and continuously rising residential land prices in many cities are causing significant challenges to economic development and social stability. Yet, there has only been a limited amount of attempts made to model and analyze the regional dynamic changes of residential land price systematically, especially in term of the spatially varying effects of key demographic and economic factors. In this study we provided a perspective analysis of the changes of residential land prices in 2008, 2011 and 2014 based on the land price monitoring records of 105 cities and then conducted a geographically weighted regression (GWR analysis on the relationships between residential land price and three major impact factors (i.e., immigrant population, gross domestic product (GDP and investment in residential buildings. Results show that the areas in which GDP had relatively strong positive impacts on residential land price expanded with time. The negative effects of immigrant population on residential land price were mainly concentrated in the cities around the Bohai Rim and the area with negative effects gradually shrank in the three studied years. Conversely, the areas with negative correlation between investment in residential buildings and residential land price gradually expanded in size over time. A geographical detector was used to examine the relative importance of factors to residential land price. It was found that the GDP had more significant influence on residential land price than other factors and the influence of the three factors to overall variation in residential land price increased over the three studied years. These results underscore the importance of taking spatially varying effects of major driving factors into account in policy-making on regional land market.

  2. Microfossil measures of rapid sea-level rise: Timing of response of two microfossil groups to a sudden tidal-flooding experiment in Cascadia

    Science.gov (United States)

    Horton, B.P.; Milker, Yvonne; Dura, T.; Wang, Kelin; Bridgeland, W.T.; Brophy, Laura S.; Ewald, M.; Khan, Nicole; Engelhart, S.E.; Nelson, Alan R.; Witter, Robert C.

    2017-01-01

    Comparisons of pre-earthquake and post-earthquake microfossils in tidal sequences are accurate means to measure coastal subsidence during past subduction earthquakes, but the amount of subsidence is uncertain, because the response times of fossil taxa to coseismic relative sea-level (RSL) rise are unknown. We measured the response of diatoms and foraminifera to restoration of a salt marsh in southern Oregon, USA. Tidal flooding following dike removal caused an RSL rise of ∼1 m, as might occur by coseismic subsidence during momentum magnitude (Mw) 8.1–8.8 earthquakes on this section of the Cascadia subduction zone. Less than two weeks after dike removal, diatoms colonized low marsh and tidal flats in large numbers, showing that they can record seismically induced subsidence soon after earthquakes. In contrast, low-marsh foraminifera took at least 11 months to appear in sizeable numbers. Where subsidence measured with diatoms and foraminifera differs, their different response times may provide an estimate of postseismic vertical deformation in the months following past megathrust earthquakes.

  3. Eastern tropical Pacific vegetation response to rapid climate change and sea level rise: A new pollen record from the Gulf of Tehuantepec, southern Mexico

    Science.gov (United States)

    Hendy, I. L.; Minckley, T. A.; Whitlock, C.

    2016-08-01

    A 30,000-year-long pollen record from the Gulf of Tehuantepec, southern Mexico shows the varying influence of air temperature, precipitation and eustatic sea-level rise on changes in coastal and upland vegetation patterns. During the late-glacial period, pine-juniper forests grew in the Sierra Madre del Sur along the Pacific Slope with broadleaf forests present at low elevations. Coastal wetland and riparian vegetation were limited in distribution. Significant cooling associated with Heinrich 1 (17,000-15,000 cal yr BP) resulted in an expansion of pine-juniper woodland. By the time of Bølling-Allerød warming (14,700-13,000 cal yr BP), extensive mangrove forest development was assisted by sea-level rise and reduced precipitation associated with a more southerly position of the Intertropical Convergence Zone (ITCZ) than at present. Concurrently, the expansion of oak into pine woodlands was promoted by warmer conditions than before. Increased summer precipitation in the early Holocene and stabilizing sea levels limited mangrove forests along the coast and allowed mixed conifer and hardwood forest to become more widespread inland. The onset of a more seasonal climate, driven by a weakening of the Mexican monsoon and a southerly shift in ITCZ position led to the establishment of modern open forests of pine and oak after 4300 cal yr BP.

  4. Price increase

    CERN Multimedia

    2005-01-01

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

  5. Price increase

    CERN Multimedia

    2006-01-01

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

  6. The rise and rise of renewable cities

    Directory of Open Access Journals (Sweden)

    Newman Peter

    2017-01-01

    Full Text Available The decoupling of fossil fuels from growth in economic activity has been proceeding rapidly for most of the 21st century and is analysed globally in terms of structures and technologies for energy efficiency and for switching to renewable energy in the world’s cities. This is leading to the decline of coal and oil. The evidence suggests that the changes are based on demand for the structures and technologies that are emerging, facilitating a disruptive process. The rise of renewable cities can therefore be expected to accelerate.

  7. Oil Price Risk and Stock Markets

    OpenAIRE

    Niu, Hui

    2012-01-01

    The oil price risk refers to the uncertainty of the change in oil price and the stock markets studied in this paper are the so called emerging ones. Fourteen countries are selected for a quantitative research on the link between the oil price fluctuation and the stock market performance. A multi-factor model is applied and specifically an OLS regression is conducted separately for the data on Brazilian stock market. As a result, the rising oil price decreases stock price in oil-importing coun...

  8. The Rise

    DEFF Research Database (Denmark)

    Tamke, Martin; Stasiuk, David; Ramsgaard Thomsen, Mette

    2013-01-01

    The research-based installation, The Rise, is led by the concept of a growing architecture able to sense and dynamically adapt to its environment as it grows into form while continuously reacting to its own material performance and behavioral constraints. This process is enabled through the careful...... a material system with simulation and the iterative generation of geometry through a process of calibration at different stages of design. The project leverages emerging computational strategies for growth in a model for an architectural practice that engages the complexity and interdependencies...

  9. Price Fairness versus Pricing Fairness

    OpenAIRE

    Chapuis, Jean Michel

    2012-01-01

    International audience; This research note discusses the distinction between these two concepts of perceptions of fairness, based on the theory of distributive justice and procedural justice, in order to helps understand consumer behavior. With a sample of 250 tourists in French Polynesia and a structural equation model, tourists do not confuse price fairness and pricing fairness. The theoretical implications are that future research should use two distinct scales. For managers, the study sug...

  10. Effects of rapid temperature rising on nitrogen removal and microbial community variation of anoxic/aerobic process for ABS resin wastewater treatment.

    Science.gov (United States)

    Luo, Huilong; Song, Yudong; Zhou, Yuexi; Yang, Liwei; Zhao, Yaqian

    2017-02-01

    ABS resin wastewater is a high-temperature nitrogenous organic wastewater. It can be successfully treated with anoxic/aerobic (A/O) process. In this study, the effect of temperature on nitrogen removal and microbial community after quick temperature rise (QTR) was investigated. It was indicated that QTR from 25 to 30 °C facilitated the microbial growth and achieved a similar effluent quality as that at 25 °C. QTR from 25 to 35 °C or 40 °C resulted in higher effluent concentration of chemical oxygen demand (COD), biochemical oxygen demand (BOD5), total nitrogen (TN), and total phosphorus (TP). Illumina MiSeq pyrosequencing analysis illustrated that the richness and diversity of the bacterial community was decreased as the temperature was increased. The percentage of many functional groups was changed significantly. QTR from 25 to 40 °C also resulted in the inhibition of ammonia oxidation rate and high concentration of free ammonia, which then inhibited the growth of NOB (Nitrospira), and thus resulted in nitrite accumulation. The high temperature above 35 °C promoted the growth of a denitrifying bacterial genus, Denitratisoma, which might increase N2O production during the denitrification process.

  11. Copernicus Rising

    Science.gov (United States)

    Rose, Michael A.

    2007-08-01

    Copernicus Rising began as a historical biography when it was first conceived, but as the writing progressed it quickly became a rather absurd play that took historical research and twisted it through the lens of my own wit, philosophy and personal affection for the characters. When working with historical figures--characters who existed in a very tangible way in our own history--the playwriting process opens a dialogue between different points in time and space. The difficulty lies in finding a unique and clear voice amongst the discordant personalities involved in this time and space overlap, both in the writing and production processes, in order to get to the heart of what the play is really all about. This thesis follows the journey of the play from its historical roots through the creation of an absurd journey both insides and outside time, space and the human mind. The first part of the thesis explains the beginnings of the concept and outlines much of the research and development that went into the play. The next part outlines the process of production and integrating the world on paper with that of moving bodies on stage. In the final part, post-production discussions and audience feedback sessions shape the play into the draft included in this thesis.

  12. Rapid rise and fall of selfish sex-ratio X chromosomes in Drosophila simulans: spatiotemporal analysis of phenotypic and molecular data.

    Science.gov (United States)

    Bastide, Héloïse; Cazemajor, Michel; Ogereau, David; Derome, Nicolas; Hospital, Frédéric; Montchamp-Moreau, Catherine

    2011-09-01

    Sex-ratio drive, which has been documented in several Drosophila species, is induced by X-linked segregation distorters. Contrary to Mendel's law of independent assortment, the sex-ratio chromosome (X(SR)) is inherited by more than half the offspring of carrier males, resulting in a female-biased sex ratio. This segregation advantage allows X(SR) to spread in populations, even if it is not beneficial for the carriers. In the cosmopolitan species D. simulans, the Paris sex-ratio is caused by recently emerged selfish X(SR) chromosomes. These chromosomes have triggered an intragenomic conflict, and their propagation has been halted over a large area by the evolution of complete drive suppression. Previous molecular population genetics analyses revealed a selective sweep indicating that the invasion of X(SR) chromosomes was very recent in Madagascar (likely less than 100 years ago). Here, we show that X(SR) chromosomes are now declining at this location as well as in Mayotte and Kenya. Drive suppression is complete in the three populations, which display little genetic differentiation and share swept haplotypes, attesting to a common and very recent ancestry of the X(SR) chromosomes. Patterns of DNA sequence variation also indicate a fitness cost of the segmental duplication involved in drive. The data suggest that X(SR) chromosomes started declining first on the African continent, then in Mayotte, and finally in Madagascar and strongly support a scenario of rapid cycling of X chromosomes. Once drive suppression has evolved, standard X(ST) chromosomes locally replace costly X(SR) chromosomes in a few decades.

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

    Science.gov (United States)

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

    2013-11-01

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

  14. Price and consumption of tobacco.

    Science.gov (United States)

    Singh, Virendra; Sharma, Bharat Bhushan; Saxena, Puneet; Meena, Hardayal; Mangal, Daya Krishan

    2012-07-01

    It is thought that price increase in tobacco products leads to reduced consumption. Though many studies have substantiated this concept, it has not been well studied in India. Recently, price of tobacco products was increased due to ban on plastic sachets of chewing tobacco and increased tax in Rajasthan. This study was designed to evaluate the effect of price rise on overall consumption of tobacco in Jaipur city, Rajasthan. This study was carried out in Jaipur city. Two-staged stratified sampling was used. In the first phase of study, cost and consumption of various tobacco products in the months of February and April were enquired from 25 retail tobacco shops. In the second phase, tobacco consumption was enquired from 20 consecutive consumers purchasing any tobacco product from all the above retail tobacco shops. The data were statistically analyzed using descriptive statistics and paired "t" test. The comparison of prices of tobacco products between February and April revealed that the price of cigarette, bidi, and chewing tobacco has increased by 19%, 21%, and 68%, respectively. Average decrease in sales of cigarettes, bidi, and chewing tobacco at shops included in the study were 14%, 23%, and 38%, respectively. The consumers purchasing tobacco also reported decreased consumption. Chewing tobacco showed the maximum reduction (21%). Consumption of cigarette and bidi has also reduced by 15% and 13%, respectively. It may be concluded that reduction in consumption is associated with increased price of tobacco products. Reduced consumption is comparative to the magnitude of price increase.

  15. Characteristics of Price Fluctuation of Agricultural Products in China

    OpenAIRE

    Guo, Xiao-hui; Ge, Dang-qiao

    2009-01-01

    This paper introduces the basic trend of the price of agricultural products in China, and analyzes the causation of rigid rise of agricultural product price. We also study on the fluctuation characteristics of the prices of Chinese and classification agricultural products.

  16. Clearwood quality and softwood lumber prices: what's the real premium?

    Science.gov (United States)

    Thomas R. Waggener; Roger D. Fight

    1999-01-01

    Diminishing quantities of appearance grade lumber and rising price premiums for it have accompanied the transition from old-growth to young-growth timber. The price premiums for better grades are an incentive for producers to undertake investments to increase the yield of those higher valued products. Price premiums, however, are also an incentive for users to...

  17. Access price regulation facilitates strategic transfer pricing

    OpenAIRE

    Fjell, Kenneth; Foros, Øystein

    2005-01-01

    Access price regulation is used in telecommunications to prevent that a vertically integrated firm, that controls an essential input, raises the rivals` costs. When the authorities remove the access price as a strategic tool, they at the same time make it optimal for the vertically integrated firm to reorganize from centralized pricing to decentralized pricing in order to use the transfer price as an alternative strategic device. To implement access price regulation, authorities use accountin...

  18. How market structure drives commodity prices

    Science.gov (United States)

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

    2017-11-01

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

  19. Price Asynchronization and Price Level Inertia

    OpenAIRE

    Blanchard, Olivier J.

    1982-01-01

    If price decisions are taken neither continuously nor in perfect synchronization, the process of adjustment of all prices to a new nominal level will imply temporary movements in relative prices. It might then well be that, to avoid these movements in relative prices, each price setter will want to move his own price slowly compared to others. The result will be a slow movement of all prices to their new nominal level, and substantial inertia of the price level. This paper formalizes this int...

  20. Freemium Pricing

    DEFF Research Database (Denmark)

    Runge, Julian; Wagner, Stefan; Claussen, Jörg

    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...... much of their product away for free. Our framework and its exemplary application can be a remedy....

  1. Pricing Perishables

    OpenAIRE

    Weaver, Robert D.; Moon, Yongma

    2011-01-01

    A key feature of food products is their perishability. Within the short marketing window that characterizes most food and ag products, demand is typically highly stochastic and difficult to predict. This combination of features poses substantial challenges to retailers when pricing products and has implications for performance that ripples through vertical food chains. For many food products, processing to forms that can be preserved and held in inventory has traditionally been used as a mean...

  2. Price Perception

    OpenAIRE

    Margianti, E.S.; Saptariani, Trini; Sirongoringo, Hotniar

    2008-01-01

    This research is intended to investigate consumer price perception which is set up by two (2) big retail chains. However, research variable is subjected to consumer opinion, so that survey research was deployed to gather data needed. Questionnaire, as research instrument, was distributed to consumers who perform convenience shopping goods at two chains, i.e. Carrefour and Giant in Depok city. As research variables are latent in nature, multilevel structural equation modeling was used to analy...

  3. Long term fuel price elasticity: Effect of price changes on mobility tool ownership

    OpenAIRE

    Erath, Alexander; Axhausen, Kay W.

    2013-01-01

    The study analyzes how mobility tool usage and ownership as well as residence location choice are affected by rising fuel costs. Based on econometric models, long-term fuel price elasticities are derived. Based on data collected in stated choice and stated adaptation experiments that were conducted as computer-based face-to-face surveys, a structural equation model was estimated. The resulting fuel price elasticities are primarily dependent on fuel type and fuel price level, but sociodemograp...

  4. Price changes in the gasoline market: Are Midwestern gasoline prices downward sticky?

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1999-03-01

    This report examines a recurring question about gasoline markets: why, especially in times of high price volatility, do retail gasoline prices seem to rise quickly but fall back more slowly? Do gasoline prices actually rise faster than they fall, or does this just appear to be the case because people tend to pay more attention to prices when they`re rising? This question is more complex than it might appear to be initially, and it has been addressed by numerous analysts in government, academia and industry. The question is very important, because perceived problems with retail gasoline pricing have been used in arguments for government regulation of prices. The phenomenon of prices at different market levels tending to move differently relative to each other depending on direction is known as price asymmetry. This report summarizes the previous work on gasoline price asymmetry and provides a method for testing for asymmetry in a wide variety of situations. The major finding of this paper is that there is some amount of asymmetry and pattern asymmetry, especially at the retail level, in the Midwestern states that are the focus of the analysis. Nevertheless, both the amount asymmetry and pattern asymmetry are relatively small. In addition, much of the pattern asymmetry detected in this and previous studies could be a statistical artifact caused by the time lags between price changes at different points in the gasoline distribution system. In other words, retail gasoline prices do sometimes rise faster than they fall, but this is largely a lagged market response to an upward shock in the underlying wholesale gasoline or crude oil prices, followed by a return toward the previous baseline. After consistent time lags are factored out, most apparent asymmetry disappears.

  5. Fluctuating staple prices and household poverty in India

    OpenAIRE

    Shutes, L.J.; Ganesh-Kumar, A.; Meijerink, G.

    2012-01-01

    The general perception is that high food prices in India have increased poverty and that trade reforms will further worsen poverty. We compare Foster-Greer-Thorbecke poverty measures for various scenarios of grain price swings with and without trade reform, using price and income effects for 32 representative households computed from a global economic model and a model of India's economy. The results suggest that a rise in the global rice price actually provides strong opportunities for pover...

  6. The Dynamics of Price and Advertising as Signals of Quality

    OpenAIRE

    Musa Ayar

    2007-01-01

    A monopolist introduces a new product of either low or high quality. It advertises to make consumers aware of the product and signals product quality using both price and advertising. When consumption does not re- veal product quality, price is higher and advertising is lower than they would be if product quality is observable. Price rises and advertising falls as the fraction of aware consumers increases. When consumption reveals product quality, price is higher and advertising is lower than...

  7. Analyzing Factors Affecting U.S. Food Price Inflation.

    OpenAIRE

    Baek, Jungho; Won W. KOO

    2009-01-01

    Since the summer of 2007, U.S. food price has increased dramatically. Given public anxiety over fast-rising food prices in recent years, this paper attempts to analyze the effects of market factors ─ prices of energy and agricultural commodities and exchange rate ─ on U.S. food prices using a co-integration analysis. Results show that the agricultural commodity price and exchange rate play key roles in determining the short- and long-run movement of U.S. food prices. It is also found that in ...

  8. Estimating bubbles and affordable housing price trends: A study based on Singapore

    OpenAIRE

    Tilak Abeysinghe; Jiaying Gu

    2013-01-01

    Policy makers often impose some cooling measures on the housing market when housing prices rise fast. Such policies yield limited success if housing prices are driven up by fundamentals. A fundamental price trend may not necessarily be an affordable one. Unaffordable housing price trends increase the mortgage burden of households. Estimating these different price trends provides valuable information to policy makers. This paper presents an empirical methodology to separate out a housing price...

  9. What Factors Affect the Prices of Low-Priced U.S. Solar PV Systems?

    Energy Technology Data Exchange (ETDEWEB)

    Nemet, Gregory F. [Univ. of Wisconsin, Madison, WI (United States); Mercator Research Inst. on Global Commons and Climate Change, Berlin (Germany); O' Shaughnessy, Eric [National Renewable Energy Lab. (NREL), Golden, CO (United States); Wiser, Ryan [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Darghouth, Naïm R. [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Barbose, Galen [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Gillingham, Ken [Yale Univ., New Haven, CT (United States); Rai, Varun [Univ. of Texas, Austin, TX (United States)

    2016-08-01

    The price of solar PV systems has declined rapidly, yet there are some much lower-priced systems than others. This study explores the factors leading some systems to be so much lower priced than others. Using a data set of 42,611 residential-scale PV systems installed in the U.S. in 2013, we use quantile regressions to estimate the importance of factors affecting the installed prices for low-priced (LP) systems (those at the 10th percentile) in comparison to median-priced systems. We find that the value of solar to consumers–a variable that accounts for subsidies, electric rates, and PV generation levels–is associated with lower prices for LP systems but higher prices for median priced systems. Conversely, systems installed in new home construction are associated with lower prices at the median but higher prices for LP. Other variables have larger cost-reducing effects on LP than on median priced systems: systems installed in Arizona and Florida, as well as commercial and thin film systems. In contrast, the following have a smaller effect on prices for LP systems than median priced systems: tracking systems, self-installations, systems installed in Massachusetts, the system size, and installer experience. These results highlight the complex factors at play that lead to LP systems and shed light into how such LP systems can come about.

  10. MARKET ECONOMICS PRICING PARTICULARS

    Directory of Open Access Journals (Sweden)

    V. I. Parshin

    2011-01-01

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

  11. Price controls and international petroleum product prices

    Energy Technology Data Exchange (ETDEWEB)

    Deacon, R.T.; Mead, W.J.; Agarwal, V.B.

    1980-02-01

    The effects of Federal refined-product price controls upon the price of motor gasoline in the United States through 1977 are examined. A comparison of domestic and foreign gasoline prices is made, based on the prices of products actually moving in international trade. There is also an effort to ascribe US/foreign market price differentials to identifiable cost factors. Primary emphasis is on price comparisons at the wholesale level, although some retail comparisons are presented. The study also examines the extent to which product price controls are binding, and attempts to estimate what the price of motor gasoline would have been in the absence of controls. The time period under consideration is from 1969 through 1977, with primary focus on price relationships in 1970-1971 (just before US controls) and 1976-1977. The foreign-domestic comparisons are made with respect to four major US cities, namely, Boston, New York, New Orleans, and Los Angeles. 20 figures, 14 tables.

  12. Three essays on access pricing

    Science.gov (United States)

    Sydee, Ahmed Nasim

    access pricing with congestion and in which investments in infrastructure are lumpy. To fix ideas, the model is formulated in the context of airport infrastructure investments, which captures both the element of congestion and the lumpiness involved in infrastructure investments. The optimal investment program suggests how many units of capacity should be installed and at which times. Because time is continuous in the model, the discounted cost -- despite the lumpiness of capacity additions -- can be made to vary continuously by varying the time a capacity addition is made. The main results that emerge from the analysis can be described as follows: First, the global demand for air travel rises with time and experiences an upward jump whenever a capacity addition is made. Second, the access price is constant and stays at the basic level when the system is not congested. When the system is congested, a congestion surcharge is imposed on top of the basic level, and the congestion surcharge rises with the level of congestion until the next capacity addition is made at which time the access price takes a downward jump. Third, the individual demand for air travel is constant before congestion sets in and after the last capacity addition takes place. During a time interval in which congestion rises, the individual demand for travel is below the level that prevails when there is no congestion and declines as congestion worsens. The third essay contains a model of access pricing for natural gas transmission pipelines, both when pipeline operators are regulated and when they behave strategically. The high sunk costs involved in building a pipeline network constitute a serious barrier of entry, and competitive behaviour in the transmission pipeline sector cannot be expected. Most of the economic analyses of access pricing for natural gas transmission pipelines are carried out from the regulatory perspective, and the access price paid by shippers are cost-based. The model formalized

  13. How Market Structure Drives Commodity Prices

    Science.gov (United States)

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

    To understand how market structure drives commodity price trends with respect to resource availability we introduce an agent-based model, in which agents set their prices to maximize profit. At steady state the market self-organizes into three groups: excess producers, consumers and balanced agents. When resources are scarce prices rise sharply below a turning point marking the disappearance of excess producers. By introducing an elasticity parameter to mitigate noise and long-term changes in commodities data, we confirm the trend of rising prices, provide evidence for turning points, and indicate yield points for less essential commodities. This work is supported by Research Grants Council of Hong Kong (Grant Numbers 604512, 605813, and 16322616) and the Leverhulme Trust RPG-2013-48.

  14. Price and consumption of tobacco

    Directory of Open Access Journals (Sweden)

    Virendra Singh

    2012-01-01

    Full Text Available Background: It is thought that price increase in tobacco products leads to reduced consumption. Though many studies have substantiated this concept, it has not been well studied in India. Recently, price of tobacco products was increased due to ban on plastic sachets of chewing tobacco and increased tax in Rajasthan. This study was designed to evaluate the effect of price rise on overall consumption of tobacco in Jaipur city, Rajasthan. Materials and Methods: This study was carried out in Jaipur city. Two-staged stratified sampling was used. In the first phase of study, cost and consumption of various tobacco products in the months of February and April were enquired from 25 retail tobacco shops. In the second phase, tobacco consumption was enquired from 20 consecutive consumers purchasing any tobacco product from all the above retail tobacco shops. The data were statistically analyzed using descriptive statistics and paired "t" test. Results: The comparison of prices of tobacco products between February and April revealed that the price of cigarette, bidi, and chewing tobacco has increased by 19%, 21%, and 68%, respectively. Average decrease in sales of cigarettes, bidi, and chewing tobacco at shops included in the study were 14%, 23%, and 38%, respectively. The consumers purchasing tobacco also reported decreased consumption. Chewing tobacco showed the maximum reduction (21%. Consumption of cigarette and bidi has also reduced by 15% and 13%, respectively. Conclusion: It may be concluded that reduction in consumption is associated with increased price of tobacco products. Reduced consumption is comparative to the magnitude of price increase.

  15. Three studies of retail gasoline pricing dynamics

    Science.gov (United States)

    Atkinson, Benjamin James

    In many Canadian cities, retail gasoline prices appear to cycle, rising by large amounts in one or two days followed by several days of small consecutive price decreases. While many empirical studies examine such markets, certain questions cannot b e properly answered without high frequency, station-specific price data for an entire market. Thus, the first paper in this thesis uses bi-hourly price data collected for 27 stations in Guelph, Ontario, eight tunes per day for 103 days to examine several basic predictions of the Edgeworth cycle theory. The results are largely consistent with this theory. However, most independent firms do not tend to undercut their rivals' prices, contrary to previous findings. Furthermore, the tuning, sizes and leaders of price increases appear to be very predictable, and a specific pattern of price movements has been detected on days when prices increase. These findings suggest that leading a price increase might not be as risky as one may expect. The second paper uses these same data to examine the implications o f an informal theory of competitive gasoline pricing, as advanced by industry and government. Consistent with this theory, stations do tend to set prices to match (or set a small positive or negative differential with) a small number of other stations, which are not necessarily the closest stations. Also, while retailers frequently respond to price changes within two hours, many take considerably longer to respond than is predicted by the theory. Finally, while price decreases do ripple across the market like falling dominos, increases appear to propagate based more on geographic location and source of price control than proximity to the leaders. The third paper uses both these data and Guelph price data collected every 12 hours during the same 103 days from OntarioGasPrices.com to examine the sample selection biases that might exist in such Internet price data, as well as their implications for empirical research. It is

  16. 7 CFR 1000.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... III price; (4) The Class III skim milk price; (5) The Class IV price; (6) The Class IV skim milk price... the following month: (1) The Class I price; (2) The Class I skim milk price; (3) The Class I butterfat price; (4) The Class II skim milk price; (5) The Class II nonfat solids price; and (6) The advanced...

  17. DETERMINANTS OF FOOD PRICE INFLATION IN FINLAND

    OpenAIRE

    Irz, Xavier T.; Niemi, Jyrki S.; Xing, Liu

    2011-01-01

    The agricultural commodity crisis of 2006-8 and the recent evolution of commodity markets have reignited anxieties in Finland over fast-rising food prices and food security. Although the impact of farm commodity price shocks on the final consumer is mitigated by a large degree of processing as well as the complex structure of the food chain, little is known about the strength of the linkages between food markets and input markets. Using monthly series of price indices from 1995 to 2010, we es...

  18. Influence of Unusual Climatic Conditions on the Rapid Rising of Water Level of the Palcacocha Lake and Its Connection with the Emergency Situation in the Cordillera Blanca, Perú.

    Science.gov (United States)

    Vilca, Oscar

    2017-04-01

    Influence of Unusual Climatic Conditions on the Rapid Rising of Water Level of the Palcacocha Lake and Its Connection with the Emergency Situation in the Cordillera Blanca, Perú. Oscar Vilca, Ricardo Durán, Cesar Portocarrero and Benjamín Morales National Institute for Research on Glaciers and Mountain Ecosystems - INAIGEM The climate alterations in 2016 have led to important issues within the Cordillera Blanca. These unusual climate events were evidenced by the rising temperature and the dropping relative humidity between December 2015 and January 2016 this was mainly influenced by the Niño phenomenon (ENSO), as well as subsequent events, like the one that occurred in november 2016, which had no presence of the ENSO, but was more severe, and has had direct influence on accelerated glacier fusion, this resulted the sudden growth of the water flow of the glacier basins of the Cordillera Blanca. Palcacocha was declared a dangerous lake due to its historical growth records. Currently, a partial monitoring to the water level of this lake is performed, and records are registered on a daily basis, with a methodology that includes analysis, quality control and the elaboration of a daily time line of the lake levels (december 2015 - december 2016). Subsequently, by using an area-volume curve, the levels are converted into volume, which can finally be inferred as water flows of net contribution to the lake. The accelerated increase of the level of the lake corresponds to the water flow contributed by glacier fusion, as that period (November 2016) did not record precipitation. The record observed has shown maximum thrust sheets of 22 mm (06/11/216) and 30mm (27/11/2016). This sudden increase of water flows in all the sub-basins with glaciers has caused concern and alarmed the population since the general perception in november pointed to a "drought", the most critical case being, the one that occurred in Jancapampa, where the river flows reached historic maximum levels

  19. Pricing and Trust

    DEFF Research Database (Denmark)

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

    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-competitive (......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...

  20. Prices high, tensions ease and a new OPEC is formed

    Energy Technology Data Exchange (ETDEWEB)

    Anon

    2006-09-15

    Crude oil prices rose on news that BP was to shut-in its 400,000 bpd Prudhoe Bay field, following the discovery of corrosion in a pipeline serving the field. Dated BFO went to a record high of $78.72/bbl on 8th August. Speculation that refiners on the US West Coast would seek to replace the lost Alaska North Slope crude with supplies from the Asia/Pacific region caused prices to rise there as well. US crude prices were rather less affected than elsewhere by events in Alaska as it rapidly became clear that stock levels were sufficient to deal with any loss of production. It also emerged that BP was able to keep about half of Prudhoe Bay in production. By that time, however, oil markets had latched on to an entirely different source of worry. The announcement in London that police had uncovered a plot to blow-up aeroplanes crossing the Atlantic led to concerns of a sharp fall in passenger travel. Traders were not simply worried about the effect of this on the demand for jet fuel, but expressed concerns of a more general loss of business confidence across the world. Fears over a fall in jet fuel consumption did not appear to have spread to Singapore, where jet kerosine traded at an all-time high of $91.75/bbl early in August. (author)

  1. Trends in College Pricing, 2016. Trends in Higher Education Series

    Science.gov (United States)

    Ma, Jennifer; Baum, Sandy; Pender, Matea; Welch, Meredith

    2016-01-01

    In 2016-17, published tuition and fee prices rose slightly less than the year before. The rapid price growth observed during the Great Recession has abated, as typically happens when the economy recovers, but the rate of increase in tuition and fees continues to exceed inflation. More notable, however, is the pattern of the net prices students…

  2. Pricing products: juxtaposing affordability with quality appeal.

    Science.gov (United States)

    1984-01-01

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

  3. ACCOUNTING ASPECTS OF PRICING AND TRANSFER PRICING

    Directory of Open Access Journals (Sweden)

    TÜNDE VERES

    2011-01-01

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

  4. 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.

  5. Stability in Organic Milk Farm Prices: A Comparative Study

    OpenAIRE

    Su, Ye; Brown, Scott; Michael L. Cook

    2013-01-01

    The organic milk pay price is more stable year round and increases every year. However, the conventional milk price varies within the year and from year to year. As an emerging segment of the milk industry, consumer demand for organic milk is increasing rapidly. The growth in demand relative to supply provides organic milk producers and processors large premiums over the conventional milk price. Many conventional dairy farms have converted to organic operations for the more stable price. The ...

  6. Heterogeneity and option pricing

    NARCIS (Netherlands)

    Benninga, Simon; Mayshar, Joram

    2000-01-01

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

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

    Energy Technology Data Exchange (ETDEWEB)

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

    2012-11-01

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

  8. Effects of rising food prices on household food security on ...

    African Journals Online (AJOL)

    2015-05-13

    May 13, 2015 ... bread, sugar, tea, oil, salt, flour and other staples forces the poor to economise on the quantity and ..... (100%) purchased maize meal, oil, salt, teabags, milk and sugar. Chicken feet and frozen fish in bulk, ... high and getting more tax through VAT” (7%) and “It affects one's way of eating because people are ...

  9. The Answer to Rising Gas Prices...Nitrogen?

    Science.gov (United States)

    Lee, Frank; Batelaan, Herman

    2010-01-01

    It is claimed by the company NitroFill and the GetNitrogen Institute that filling car tires with nitrogen improves gas mileage considerably. The reason given is that oxygen leaks out of tires so that the increased rolling friction causes a reduced gas mileage. Because it is hard to do an actual road test, we report on a simple visual test of…

  10. Rising cost of anticancer drugs in Australia.

    Science.gov (United States)

    Karikios, D J; Schofield, D; Salkeld, G; Mann, K P; Trotman, J; Stockler, M R

    2014-05-01

    Anticancer drugs are often expensive and are contributing to the growing cost of cancer care. Concerns have been raised about the effect rising costs may have on availability of new anticancer drugs. This study aims to determine the recent changes in the costs of anticancer drugs in Australia. Publicly available expenditure and prices paid by the Australian Pharmaceutical Benefits Scheme (PBS) for anticancer drugs from 2000 to 2012 were reviewed. The measures used to determine changes in cost were total PBS expenditure and average price paid by the PBS per prescription for anticancer drugs and for all PBS listed drugs. An estimated monthly price paid for newly listed anticancer drugs was also calculated. Annual PBS expenditure on anticancer drugs rose from A$65 million in 1999-2000 to A$466 million in 2011-2012; an average increase of 19% per annum. The average price paid by the PBS per anticancer drug prescription, adjusted for inflation, increased 133% from A$337 to A$786. The real average annual increase in the price per anticancer drug prescription was more than double that for all other PBS drugs combined (7.6% vs 2.8%, difference 4.8%, 95% confidence interval -0.4% to 10.1%, P = 0.07). The median price for a month's treatment of the new anticancer drugs listed was A$4919 (range A$1003 to A$12 578, 2012 prices). PBS expenditure and the price of anticancer drugs in Australia rose substantially from 2000 to 2012. Dealing with these burgeoning costs will be a major challenge for our health system and for those affected by cancer. © 2014 The Authors; Internal Medicine Journal © 2014 Royal Australasian College of Physicians.

  11. Accounting Aspects of Pricing and Transfer Pricing

    OpenAIRE

    TÜNDE VERES

    2011-01-01

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

  12. Female labour supply and nursing home prices.

    Science.gov (United States)

    Bauer, Thomas K; Stroka, Magdalena A

    2013-09-01

    Long term care in Germany is provided in nursing homes, by professional ambulatory services and by the patient's relatives at home, with the latter being predominantly provided by women. Given an increasing labour market participation of women, long term care at home by female relatives might become less frequent in the future which in turn may result in rising demand for and hence rising prices for long term care services. This paper builds upon the existing literature on the determinants of nursing home prices and investigates whether the labour market participation and the education level of women are correlated with the prices of nursing homes. To the best of our knowledge, this is the first study using panel data approaches in this field of research. Based on a full sample of nursing homes in Germany for the years 2001, 2003, 2005 and 2007, our empirical results suggest that a high share of full-time employed women aged 50-65 at the district level is not associated with higher prices of nursing homes. Furthermore, we find only weak evidence for a positive correlation of prices with the local average of women's educational level and a negative correlation with part-time employment indicating that price levels are lower in regions with higher shares of part-time employed women.

  13. Price-minimising behaviours in response to increasing tobacco price: a cross-sectional study of students

    OpenAIRE

    Langley, Tessa; Rutter, L.; Britton, John

    2016-01-01

    Background: The public health benefits of tobacco taxation are undermined when smokers engage in price-minimising behaviours other than quitting in response to rising prices. These include switching from smoking manufactured cigarettes to cheaper alternatives such as roll your-own (RYO). Young adults are particularly sensitive to tobacco prices. Methods: 314 students at the University of Nottingham, UK completed an online survey about their current smoking behaviour and their likely respon...

  14. Price-Minimizing Behaviors in Response to Increasing Tobacco Price: A Cross-Sectional Study of Students

    Science.gov (United States)

    Rutter, Lucy; Britton, John; Langley, Tessa

    2017-01-01

    Background: The public health benefits of tobacco taxation are undermined when smokers engage in price-minimizing behaviors other than quitting in response to rising prices. Methods: 314 students at the University of Nottingham, UK, completed an online survey about their smoking behavior and their likely responses to hypothetical tobacco price…

  15. Value-informed pricing in its organizational context: literature review, conceptual framework, and directions for future research

    NARCIS (Netherlands)

    Ingenbleek, P.T.M.

    2007-01-01

    Purpose ¿ In the face of increased pricing pressure, managerial attention for value-informed pricing (in which a price is based on the customer¿s value perception) is on the rise. Although value-informed pricing in its organizational context received a great deal of attention, the body of literature

  16. Exporter Price Premia?

    DEFF Research Database (Denmark)

    Jäkel, Ina Charlotte; Sørensen, Allan

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

  17. Optimization of water distribution systems in high-rise buildings

    Energy Technology Data Exchange (ETDEWEB)

    Loh, Han Tong; Chew, T.C.

    1994-12-31

    The scarcity of land in Singapore has led to a rapid escalation of land prices in recent years. This has resulted in developers building taller and taller buildings in order to maximize their return on building projects. Due to the height involved, the water distribution system in such buildings is a multi-stage one. Hence the problem of deciding the number of stages and the location of each stage arises. In this paper, we will describe the design decisions to be taken in the preliminary design of a multi-stage water distribution system in a high-rise building and pose it as an optimization problem to minimize the overall cost of implementation. The variable costcomponents are the cost of pumps, the floor space cost and the operational cost of the water distribution system. We will describe a study on a 66-story building and highlight the major findings. Interesting results are observed when the cost components are taken one at a time. The strategy for finding the optimum or near optimum for other high-rise buildings will be discussed.

  18. Trends in U.S. food prices, 1950-2007.

    Science.gov (United States)

    Christian, Thomas; Rashad, Inas

    2009-03-01

    The potential effect that food prices may have on the health of the U.S. population needs to be further explored, particularly in light of the rising food prices currently being observed. Declining food prices over time have been singled out as a main contributor, for example, to the rising trend in obesity. In this paper we use data from the Bureau of Labor Statistics, the American Chamber of Commerce Researchers Association, the Consumer Expenditure Survey, and the United States Department of Agriculture to analyze trends in various types of food prices, to create a food price index, and to estimate the price of a calorie. Results may be used by future researchers in estimating the health implications of these trends. We find that while the general trend in food prices has been declining, that of restaurant meal prices and prices of fruits and vegetables has risen over time. It is doubtful that the decline in food prices has been sufficiently large to account for the large increase in caloric intake that is said to have contributed to the obesity epidemic in the U.S.

  19. PRICES IN COMPETITIVE SYSTEM

    Directory of Open Access Journals (Sweden)

    VADUVA MARIA

    2017-08-01

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

  20. Drug Pricing Reforms

    DEFF Research Database (Denmark)

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

    2015-01-01

    Reference price systems for prescription drugs have found widespread use as cost containment tools. Under such regulatory regimes, patients co-pay a fraction of the difference between pharmacy retail price of the drug and a reference price. Reference prices are either externally (based on drug pr...... for patients and the health insurance system. We also estimated an increase in consumer welfare but the size effect depends on whether or not perceived quality differences between branded and other drugs are taken into account....

  1. Dynamic leverage asset pricing

    OpenAIRE

    Adrian,Tobias; Moench, Emanuel; Shin, Hyun Song

    2013-01-01

    We investigate intermediary asset pricing theories empirically and find strong support for models that have intermediary leverage as the relevant state variable. A parsimonious model that uses detrended dealer leverage as a price-of-risk variable, and innovations to dealer leverage as a pricing factor, is shown to perform well in time series and cross-sectional tests of a wide variety of equity and bond portfolios. The model outperforms alternative specifications of intermediary pricing model...

  2. Delegating Pricing Decisions

    OpenAIRE

    Pradeep Bhardwaj

    2001-01-01

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

  3. Has the Internet Eliminated Regional Price Differences? Evidence from the Used Car Market

    NARCIS (Netherlands)

    Haan, M.A.; de Boer, H.W.

    2010-01-01

    We study the effects of the Internet on regional price differences. Comparing two Dutch regions, we find that before the rise of the Internet, price differences of used cars between those regions amounted to some 11-15%, controlling for mileage, age, fuel type and engine volume. These price

  4. Simulating Price-Taking

    Science.gov (United States)

    Engelhardt, Lucas M.

    2015-01-01

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

  5. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

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

    2014-01-01

    Reference prices constitute a main determinant of patient health care reimbursement in many countries. We study the effects of a change from an "external" (based on a basket of prices in other countries) to an "internal" (based on comparable domestic products) reference price system. We find that...

  6. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

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

    Reference prices constitute a main determinant of patient health care reimbursement in many countries. We study the effects of a change from an "external" (based on a basket of prices in other countries) to an "internal" (based on comparable domestic products) reference price system. We find that...

  7. Dutch house price fundamentals

    NARCIS (Netherlands)

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

    2009-01-01

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

  8. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

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

    the joint eects of this reform on prices and quantities. Prices decreased more than 26 percent due to the reform, which reduced patient and government expenditures by 3.0 percent and 5.6 percent, respectively, and producer revenues by 5.0 percent. The prices of expensive products decreased more than...

  9. Crude Oil Price, Monetary Policy and Output: The Case of Pakistan

    OpenAIRE

    Afia Malik

    2008-01-01

    This paper has analysed the impact of rising crude oil prices on output. Crude oil prices and real output are found to be strongly related, and this relationship has a bellshape. That is, when crude oil prices are below the critical level (i.e., 22 $s/bbl), the relationship between crude oil prices and real output is positive; whereas when the crude oil price rises and exceeds that critical level the relationship becomes negative. Moreover, high debt-GDP ratio, high deficit spending, and high...

  10. Psychology of pricing

    OpenAIRE

    Bimaj, Arjola

    2012-01-01

    Price is the element of the marketing mix that has direct effect in the profits of a company. The right price can boost the profit and the wrong price can significantly shrink it. Thus, the businesses need to set the right price in order to maximize their revenues. However, the newest factors in the economic field, the continuous changes in the environment and the current financial situation in the world has eroded the pricing power and forces the managers to look in every direction in order ...

  11. Internet resource pricing models

    CERN Document Server

    Xu, Ke; He, Huan

    2013-01-01

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

  12. Value-based pricing

    Directory of Open Access Journals (Sweden)

    Netseva-Porcheva Tatyana

    2010-01-01

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

  13. Economics Aspects of Increasing the Oil Price

    Directory of Open Access Journals (Sweden)

    Grendel Peter

    2004-09-01

    Full Text Available In paper I describe mainly high price of oil, which has influence on many circumstances. The important effect on growing up the price of oil has situation in Mid-east, and everyday rising consumption of oil in China. Meaningful position have USA, which using 45% of word energy. The problem is particularly in daily mining of lode. In next part i describing aspect of this situation on stock-exchange, mainly behaviour of speculators, and OPEC, and also presure on inflation in Euro-zone. In the last chapter I discuss about reaction of the big world oil concern like CONOCO, SHELL, BP, OMV and MOL.

  14. Price learning during grocery shopping

    DEFF Research Database (Denmark)

    Jensen, Birger Boutrup

    of what consumers learn about prices during grocery shopping. Three measures of price knowledge corresponding to different levels of price information processing were applied. Results indicate that price learning does take place and that episodic price knowledge after store exit is far more widespread...... than expected. Consequently, a new view of how consumer price knowledge evolves during grocery shopping is presented....

  15. Pricing real estate index options under stochastic interest rates

    Science.gov (United States)

    Gong, Pu; Dai, Jun

    2017-08-01

    Real estate derivatives as new financial instruments are not merely risk management tools but also provide a novel way to gain exposure to real estate assets without buying or selling the physical assets. Although real estate derivatives market has exhibited a rapid development in recent years, the valuation challenge of real estate derivatives remains a great obstacle for further development in this market. In this paper, we derive a partial differential equation contingent on a real estate index in a stochastic interest rate environment and propose a modified finite difference method that adopts the non-uniform grids to solve this problem. Numerical results confirm the efficiency of the method and indicate that constant interest rate models lead to the mispricing of options and the effects of stochastic interest rates on option prices depend on whether the term structure of interest rates is rising or falling. Finally, we have investigated and compared the different effects of stochastic interest rates on European and American option prices.

  16. Assessment of Summer 1997 motor gasoline price increase

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1998-05-01

    Gasoline markets in 1996 and 1997 provided several spectacular examples of petroleum market dynamics. The first occurred in spring 1996, when tight markets, following a long winter of high demand, resulted in rising crude oil prices just when gasoline prices exhibit their normal spring rise ahead of the summer driving season. Rising crude oil prices again pushed gasoline prices up at the end of 1996, but a warm winter and growing supplies weakened world crude oil markets, pushing down crude oil and gasoline prices during spring 1997. The 1996 and 1997 spring markets provided good examples of how crude oil prices can move gasoline prices both up and down, regardless of the state of the gasoline market in the United States. Both of these spring events were covered in prior Energy Information Administration (EIA) reports. As the summer of 1997 was coming to a close, consumers experienced yet another surge in gasoline prices. Unlike the previous increase in spring 1996, crude oil was not a factor. The late summer 1997 price increase was brought about by the supply/demand fundamentals in the gasoline markets, rather than the crude oil markets. The nature of the summer 1997 gasoline price increase raised questions regarding production and imports. Given very strong demand in July and August, the seemingly limited supply response required examination. In addition, the price increase that occurred on the West Coast during late summer exhibited behavior different than the increase east of the Rocky Mountains. Thus, the Petroleum Administration for Defense District (PADD) 5 region needed additional analysis (Appendix A). This report is a study of this late summer gasoline market and some of the important issues surrounding that event.

  17. High rise buildings

    Energy Technology Data Exchange (ETDEWEB)

    Horn, M.

    1980-06-01

    The feasibility of developing new energy conservation standards for high rise residential-type buildings including hotels, motels, apartment houses, and lodging houses is discussed. Differences between the high and low rise residential building energy regulations are summarized. The data collection method and results are presented. (MCW)

  18. 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. ...

  19. 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. ...

  20. 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. ...

  1. 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. ...

  2. 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. ...

  3. 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. ...

  4. 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. ...

  5. 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. ...

  6. 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. 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. ...

  8. Price of Water

    Science.gov (United States)

    Survilo, Josifs; Boreiko, Dmitrijs

    2009-01-01

    There are watercourses on the globe which as yet do not deliver up their energy to the needs of the people. How much energy their waters bear, is it worth to take away this energy? Those and alike questions must be (and they are) answered before start to build hydro power station. Similar problems must be solved to control hydro power plants in most gainful way which is known as hydrothermal coordination. The notion of price of water can be met lately in technical literature as one of numerical indices of these issues. The gross price of water and net price of water are considered in this paper. Gross price of 1 t water is the price of electric energy obtained by conversion of potential energy of 1 t of water, lifted to a height of power station water head. Net price of water is the difference between gross price and total expenses determined by hydro power station building and its exploitation costs in a year related to 1 m3 of water. If net price of water is positive, it is worth building power station. The greater net price is, the more urgent is the building. Net price of water grows with water head but it continues only to some height of the dam because further increase of head sharply increases capital outlay and other exploitation expenses. To maximize net price of water, optimization of net price function can be done. Net price of water diminishes when some amount of water is diverted for other needs. When amount of diverted water is out of discussion, no controversy can emerge. However when by diverted water some goods with some monetary worth can be obtained, the task must be solved how much water can be diverted so that the water of watercourse be used to the maximum benefit. The environmental issues must be taken into account as well.

  9. Price strategy and pricing strategy: terms and content identification

    Directory of Open Access Journals (Sweden)

    Panasenko Tetyana

    2015-11-01

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

  10. Valuation Struggles over Pricing

    DEFF Research Database (Denmark)

    Pallesen, Trine

    2016-01-01

    Public policies such as feed-in tariffs have been widely introduced to stimulate the development of renewable energies, and sustain a decarbonisation of the electricity sector. Proponents argue that these governance instruments safeguard public goods such as the climate – yet they are accused...... of creating political markets, and political prices, here understood as market distortion. This paper studies the ‘politics’ of pricing by following the adoption of the first feed-in tariff in France. Pricing as a way of achieving non-economic ends, such as climate mitigation, brings the values of several...... public goods into play, all the while prompting a translation of these values into a single price. Following the struggles over the pricing of wind power in the early 2000s, the study illustrates that rather than a pollution of the market sphere by that of politics, a politics of pricing can be observed...

  11. STS pricing policy

    Science.gov (United States)

    Lee, C. M.; Stone, B.

    1982-01-01

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

  12. Optimal Asset Pricing

    Directory of Open Access Journals (Sweden)

    Rolf Turner

    2014-07-01

    Full Text Available We describe an R package for determining the optimal price of an asset which is perishable in a certain sense, given the intensity of customer arrivals and a time-varying price sensitivity function which speci?es the probability that a customer will purchase an asset o?ered at a given price at a given time. The package deals with the case of customers arriving in groups, with a probability distribution for the group size being speci?ed. The methodology and software allow for both discrete and continuous pricing. The class of possible models for price sensitivity functions is very wide, and includes piecewise linear models. A mechanism for constructing piecewise linear price sensitivity functions is provided.

  13. Target Price Accuracy

    Directory of Open Access Journals (Sweden)

    Alexander G. Kerl

    2011-04-01

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

  14. Retail food prices in the Czech Republic – the influence of selected factors

    Directory of Open Access Journals (Sweden)

    Luboš Smutka

    2013-01-01

    Full Text Available During the last decade (2000–2010, we have witnessed an unprecedented rise in food prices, especially from the world and European market viewpoint. The article aims to analyze the development of prices in the food market in the Czech Republic and to identify the influence of global and European prices development on domestic food price development and price development of selected food products. The article focuses primarily on the sensitivity of Czech food price development and especially on sensitivity of the selected commodity aggregations price development on the global and European market price growth. Furthermore, it is analyzed the impact of changes in value added tax rate from 10% to 14% on food prices in general and then on the prices of selected food products in retails network. The results of the analysis are following. The Czech food market reacts sensitively to changes in food prices on the global market as well as on the EU market but the EU price development is determining for the CR. In terms of price response to change in the VAT rate, it appears that the growth rate is not absorbed on the production side but it is largely transferred to consumer prices. The selected food sample also showed high responsiveness in the development of prices to changes in the EU market prices but there are certain variations given by specifics of the Czech market.

  15. The Hotel Pricing Strategy

    OpenAIRE

    Cibulková, Michaela

    2013-01-01

    The main purpose of this thesis is an analysis of pricing strategy of Hotel Imperial and its evaluation, which should results in proposal of changes leading to increase of effectivity and hotel's income. The diploma thesis is divided into four main parts. The first two chapters are devoted to a theoretical description of pricing strategy and distribution channels used in hotel business. The third part is focused on the analysis of hotel itself and its pricing strategy. The final chapter summa...

  16. Employment and Asset Prices

    OpenAIRE

    Zoega, Gylfi

    2009-01-01

    A medium-term relationship exists between share prices, normalised by labour productivity, and the rate of unemployment in the OECD countries. A similar relationship appears to exist between unemployment and house prices. This helps explain decadal changes in mean unemployment, such as the shift to higher mean unemployment in the Continental European countries in the 1970s and 1980s that coincided with a fall in the level of share prices, as well as differences in mean unemployment between co...

  17. Pricing public transport services

    OpenAIRE

    Jansson, Jan Owen; Holmgren, Johan; Ljungberg, Anders

    2015-01-01

    This chapter aims at outlining pricing policy for public transport that maximizes the social surplus, that is, the sum of the producer surplus and the consumer surplus, while internalizing possible system-external costs. It starts by presenting the door-to-door transport cost as a key concept in price theory for public transport, and then first principles of optimal pricing valid for all modes of public transport are laid down. These principles are applied to urban (short-distance) public tra...

  18. Determinants of contractor pricing strategy

    OpenAIRE

    Moses, O. Douglas

    1988-01-01

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

  19. Price and Income Elasticities of Russian Exports

    Directory of Open Access Journals (Sweden)

    Bernardina Algieri

    2004-12-01

    Full Text Available The paper gauges export demand elasticities for Russia using an Error Correction technique within a cointegration framework. An extended version of the Imperfect Substitutes Model has been implemented to estimate the sensitivity of Russian exports without oil components to price and to Russian and world income. Our results suggest a robust and negative long run cointegration relationship between the real effective exchange rate, defined as the weighted average of the rouble’s exchange rates versus a basket of the three currencies with the largest share in the trade turnover adjusted to incorporate inflation rate differences (the ratio of the domestic price indices to the foreign price indices, and Russian exports. An increase in exports by 24% is caused by a real depreciation by 10%. Furthermore, a 10% growth in world income leads to a 33% rise in exports. Finally, exports drop by 14% whenever a 10% increase in domestic income occurs

  20. 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

  1. Intranational Price Convergence and Price Stickiness

    DEFF Research Database (Denmark)

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

    2017-01-01

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

  2. Price Discrimination in Academic Journals.

    Science.gov (United States)

    Joyce, Patrick; Merz, Thomas E.

    1985-01-01

    Analysis of price discrimination (charging different prices to different customers for same product) for 89 academic journals in 6 disciplines reveals: incidence of price discrimination rose between 1974 and 1984, increase in mean institutional (library) subscription price exceeded increase in mean individual subscription price. Journal list…

  3. Poverty and price transmission

    DEFF Research Database (Denmark)

    Elleby, Christian

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

  4. Essays on asset pricing

    NARCIS (Netherlands)

    Nazliben, Kamil

    2015-01-01

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

  5. Manufacturer's Suggested Retail Prices

    NARCIS (Netherlands)

    Rosenkranz, S.|info:eu-repo/dai/nl/157222241

    2003-01-01

    Based on arguments of the `reference- dependent' theory of consumer choice we assume that a retailer's discount of a manufacturer's suggested retail price changes consumers' demand. We can show that the producer benefits from suggesting a retail price. If consumers are additionally sufficiently

  6. PRICING FINANCIAL PRODUCTS

    OpenAIRE

    Tom Valentine

    1998-01-01

    Deregulation of the financial system, and the significant heightening of competition that it produced, has directed attention to the way in which financial institutions price their products and services. Also, the loan losses of the nineties increased interest in the problems of pricing for risk.

  7. House Prices and Taxes

    DEFF Research Database (Denmark)

    Gjedsted Nielsen, Mads

    This paper is the first to consider a large scale natural experiment to estimate the effect of taxes on house prices. We find that a 1 percentage-point increase in income tax rates lead to a drop in house prices of at most 2.2%. This corresponds to a tax capitalization for the average household...

  8. Assessing Asset Pricing Anomalies

    NARCIS (Netherlands)

    W.A. de Groot (Wilma)

    2017-01-01

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

  9. Price Formation by Bargaining and Posted Prices

    NARCIS (Netherlands)

    Kultti, K.K.

    1997-01-01

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

  10. Pediatric Price Transparency: Still Opaque With Opportunities for Improvement.

    Science.gov (United States)

    Faherty, Laura J; Wong, Charlene A; Feingold, Jordyn; Li, Joan; Town, Robert; Fieldston, Evan; Werner, Rachel M

    2017-10-01

    Price transparency is gaining importance as families' portion of health care costs rise. We describe (1) online price transparency data for pediatric care on children's hospital Web sites and state-based price transparency Web sites, and (2) the consumer experience of obtaining an out-of-pocket estimate from children's hospitals for a common procedure. From 2015 to 2016, we audited 45 children's hospital Web sites and 38 state-based price transparency Web sites, describing availability and characteristics of health care prices and personalized cost estimate tools. Using secret shopper methodology, we called children's hospitals and submitted online estimate requests posing as a self-paying family requesting an out-of-pocket estimate for a tonsillectomy-adenoidectomy. Eight children's hospital Web sites (18%) listed prices. Twelve (27%) provided personalized cost estimate tool (online form n = 5 and/or phone number n = 9). All 9 hospitals with a phone number for estimates provided the estimated patient liability for a tonsillectomy-adenoidectomy (mean $6008, range $2622-$9840). Of the remaining 36 hospitals without a dedicated price estimate phone number, 21 (58%) provided estimates (mean $7144, range $1200-$15 360). Two of 4 hospitals with online forms provided estimates. Fifteen (39%) state-based Web sites distinguished between prices for pediatric and adult care. One had a personalized cost estimate tool. Meaningful prices for pediatric care were not widely available online through children's hospital or state-based price transparency Web sites. A phone line or online form for price estimates were effective strategies for hospitals to provide out-of-pocket price information. Opportunities exist to improve pediatric price transparency. Copyright © 2017 by the American Academy of Pediatrics.

  11. Coupons and `everyday low prices': price competition with multiple instruments

    OpenAIRE

    Lester Kwong

    2003-01-01

    A simple two-stage game is examined, where firms compete in prices by chosen pricing instruments. Those considered include a simple, uniform pricing technology and a promotional pricing technology like an advertised discount coupon. Consumers are separated by types, informed and uninformed. Therefore, a motive for price competition exists for the purpose of separating the two types of consumers. It is shown that the sustainability of an asymmetric choice of pricing instrument between the two ...

  12. Measuring monetary policy’s effect on house prices

    OpenAIRE

    Williams, John C.

    2015-01-01

    Central banks debate whether using monetary policy to foster financial stability through house prices is advisable. Although a rise in interest rates tends to lower house prices, it may come at a significant cost through reduced economic output and inflation. This implies a very costly tradeoff when macroeconomic and financial stability goals are in conflict. The following is adapted from a presentation by the president and CEO of the Federal Reserve Bank of San Francisco to the Bank Indonesi...

  13. ALTERNATE PRICING STRATEGIES IN CONSTRUCTION

    Directory of Open Access Journals (Sweden)

    Krishna Mochtar

    2000-01-01

    Full Text Available Recent research findings on pricing strategies both in general and in construction are reviewed and explored. First%2C pricing strategy in general%2C mostly in the manufacturing industry%2C is reviewed. It includes the concepts of pricing strategy%2C predatory pricing%2C price wars%2C and price policy development. Second%2C pricing strategy in construction is explored. It includes various pricing models for bid price determination%2C such as the Friedman-Gates models%2C expected utility models%2C risk-pricing model%2C and the crew-day%2C multiple regression%2C and fuzzy-set pricing models. In conclusion%2C pricing strategies in construction are still predominantly based on a cost-based approach. More recent models try to close the gap between the models and the real life conditions of a bidder%5C%27s decision-making process. It appears that there are more problems in cost-based pricing as opposed to market-based pricing. Consequently%2C it is highly recommended that%2C alternative pricing approach such as that are closer to the proposed market-based pricing model need to be explored and developed for use in the construction industry. Abstract in Bahasa Indonesia : Pricing+strategy%2C+cost-based+pricing%2C+market-based+pricing.

  14. 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. ...

  15. 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. ...

  16. [Current problems in assessing drug prices].

    Science.gov (United States)

    Lucioni, C

    1989-01-01

    Two reasons provide historical justification for controlling drug prices: safeguarding the consumer and safeguarding public demand. Due to the increased presence of the "third payer" in public health systems this second reason has become more important. Nevertheless, over the last decade, a third purpose has attached to public control of prices: promotion of drug manufacturers economic development. The justification offered for this is that development of pharmaceutical companies contributes to the economic growth of the host country by creating employment, exports and research activity. The situations in Germany, Great Britain and United States are often cited in support of this thesis. As a model for price policy in Italy, however, it has not been successful. The rapid growth of prices in fact has not created greater employment and the foreign exchange deficit has risen rapidly. In other words the growing cost of drugs to the National Health Service has not produced hoped-for economic benefits. It would therefore be opportune to modify the mechanisms of price control by seeking a better balance in the interests involved (safeguarding public demand versus manufacturers economic growth). Methodologies available point to the evaluation of the therapeutic utility of a drug as a useful tool for this purpose. By this method the price of a new drug may only be higher than that of a drug already on the market if its therapeutic utility (which does not coincide only with clinical effectiveness) is greater. Appropriate evaluation techniques of benefits deriving from a new drug (cost-effectiveness and cost-utility) do exist and can be taken into consideration in a new method of calculating drug price.

  17. Revisiting the Long-Term Hedge Value of Wind Power in an Era of Low Natural Gas Prices

    Energy Technology Data Exchange (ETDEWEB)

    Bolinger, Mark [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2013-03-01

    This report investigates the degree to which wind power can still serve as a cost-effective hedge against rising natural gas prices, given the significant reduction in gas prices in recent years, coupled with expectations that prices will remain low for many years to come.

  18. House Price Growth When Children Are Teenagers: A Path to Higher Earnings? Working Paper No. 14-13

    Science.gov (United States)

    Cooper, Daniel; Luengo-Prado, María José

    2014-01-01

    This paper examines whether a rise in house prices that occurs immediately prior to children entering college has an impact on their earnings as adults. Higher house prices provide homeowners with additional funds to invest in their children's human capital. The results show that a 1 percentage point increase in house prices, when children are 17…

  19. Entry Decision and Pricing Policies

    OpenAIRE

    Sílvia Jorge; Cesaltina Pires

    2007-01-01

    We extend the analysis of the impact of firms' pricing policies upon entry to a framework where price competition and differentiated products are present. We consider a model where an incumbent serves two distinct and independent geographical markets and an entrant may enter in one of the markets. Entry under discriminatory pricing is more likely than under uniform pricing when entry is profitable under discriminatory pricing but unprofitable under uniform pricing. Our results show entry unde...

  20. Studies on price indexes and innovation

    Science.gov (United States)

    Carreon-Rodriguez, Victor G.

    This thesis develops two studies on price indexes and innovation. The first one analyzes the problems on the computation of price indexes when there are improvements in the goods' quality. These problems arise because we use price indexes that measure the prices of the goods that consumers buy rather than the prices of the services that consumers enjoy. In order to see this, I compute a true price for gasoline that is based on the services that it provides. We ask for the cost of moving one ton at a speed of 40 mph for a distance of 100 miles. This true price is compared with the official price for gasoline. The average annual bias (the rise in the official price relative to the true price) is 3.2% per year. We also compute the hours of work required to cover that cost. We find that in 1925 there were needed almost 1.5 hours of work, while by 1992 there were just needed about 8 minutes to move one ton as specified above. The second one develops a model of Cournot competition in innovation. This model introduces two new features. First, firm's investment in research and development is divided into two pieces, expenditures in human capital and expenditures in all other inputs (called R&D for simplicity). Second, the government also allocates resources to research and development, which affect the stock of knowledge available to the firms. Some interesting results arise from this model. First, investments in human capital and in R&D are increasing in the past government's investment. Second, investments per firm are decreasing in the number of firms in the industry, but the totals are larger if some conditions on the elasticities are satisfied. Third, the welfare analysis tells us that if there are entry barriers, each firm is overinvesting in both inputs. On the other hand, if there is free entry, there are too many firms engaged in the innovative race. Finally, we perform an empirical analysis and we find that there are lagged effects of the government's investment

  1. Pricing of new vaccines.

    Science.gov (United States)

    Lee, Bruce Y; McGlone, Sarah M

    2010-08-01

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

  2. Background and Impact of Recent High Crude Oil Prices (Japanese)

    OpenAIRE

    HASEGAWA Eiichi

    2008-01-01

    Crude oil prices on the New York Mercantile Exchange (NYMEX) temporarily fell to $10 a barrel, reflecting the Asian financial crisis that took place in 1997 and 1998, but global oil prices subsequently began to climb from around 2004, given rising demand from China, the disruption caused by hurricanes in the United States, and supply problems in Russia. In early 2008, crude oil prices topped $100 a barrel. As the sub-prime loan problems of the United States began to impact the global economy,...

  3. Optimal monetary policy and oil price shocks

    Science.gov (United States)

    Kormilitsina, Anna

    This dissertation is comprised of two chapters. In the first chapter, I investigate the role of systematic U.S. monetary policy in the presence of oil price shocks. The second chapter is devoted to studying different approaches to modeling energy demand. In an influential paper, Bernanke, Gertler, and Watson (1997) and (2004) argue that systematic monetary policy exacerbated the recessions the U.S. economy experienced in the aftermath of post World War II oil price shocks. In the first chapter of this dissertation, I critically evaluate this claim in the context of an estimated medium-scale model of the U.S. business cycle. Specifically, I solve for the Ramsey optimal monetary policy in the medium-scale dynamic stochastic general equilibrium model (henceforth DSGE) of Schmitt-Grohe and Uribe (2005). To model the demand for oil, I use the approach of Finn (2000). According to this approach, the utilization of capital services requires oil usage. In the related literature on the macroeconomic effects of oil price shocks, it is common to calibrate structural parameters of the model. In contrast to this literature, I estimate the parameters of my DSGE model. The estimation strategy involves matching the impulse responses from the theoretical model to responses predicted by an empirical model. For estimation, I use the alternative to the classical Laplace type estimator proposed by Chernozhukov and Hong (2003). To obtain the empirical impulse responses, I identify an oil price shock in a structural VAR (SVAR) model of the U.S. business cycle. The SVAR model predicts that, in response to an oil price increase, GDP, investment, hours, capital utilization, and the real wage fall, while the nominal interest rate and inflation rise. These findings are economically intuitive and in line with the existing empirical evidence. Comparing the actual and the Ramsey optimal monetary policy response to an oil price shock, I find that the optimal policy allows for more inflation, a

  4. Price Competition on Graphs

    OpenAIRE

    Heijnen, Pim; Soetevent, Adriaan

    2014-01-01

    This paper extends Hotelling's model of price competition with quadratic transportation costs from a line to graphs. We derive an algorithm to calculate firm-level demand for any given graph, conditional on prices and firm locations. These graph models of price competition may lead to spatial discontinuities in firm-level demand. We show that the existence result of D'Aspremont et al. (1979) does not extend to simple star graphs and conjecture that this non-existence result holds more general...

  5. Inflation and asset prices

    OpenAIRE

    Tatom, John

    2011-01-01

    Changes in the general level of prices and inflation have profound effects on asset prices. There are several reasons for these effects and the influence differs depending on the source of the inflation and whether it is expected or not. To understand these effects it is important to clarify what is meant by inflation, the pure theory of the sources of inflation, how inflation affects goods and services prices and how it affects the assets that are used to finance production, both equity pr...

  6. Housing Price Forecastability

    DEFF Research Database (Denmark)

    Bork, Lasse; Møller, Stig Vinther

    2016-01-01

    We examine U.S. housing price forecastability using principal component analysis (PCA), partial least squares (PLS), and sparse PLS (SPLS). We incorporate information from a large panel of 128 economic time series and show that macroeconomic fundamentals have strong predictive power for future...... movements in housing prices. We find that (S)PLS models systematically dominate PCA models. (S)PLS models also generate significant out-of-sample predictive power over and above the predictive power contained by the price-rent ratio, autoregressive benchmarks, and regression models based on small datasets....

  7. Neo-Liberal International Economy and World Oil Price

    Energy Technology Data Exchange (ETDEWEB)

    Lee, Jun Beom [Korea National Oil Corporation, Anyang (Korea)

    2001-06-01

    World oil price has been rapidly going up for almost 2 years. The recent high oil price, which has started from March 1999 about to close the 20th century, ended the period of the low oil price that had continued in 1990s and made the entry into the period of the high oil price as an established fact, so the oil consumers have taken it as the considerable economic impacts. The possibility of the world economic stagnation, which has been raised recently, seems to reconfirm the conventional wisdom that the world economic stagnation comes after the period of the high oil price as the Minister of Energy department, Abraham Spencer, mentioned in March. However, it is necessary to differently understand the recent high oil price because it occurred under the circumstance of neo-liberalism, a new international economic system.

  8. Edgeworth Price Cycles, Cost-based Pricing and Sticky Pricing in Retail Gasoline Markets

    OpenAIRE

    Noel, Michael

    2004-01-01

    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 ...

  9. Market News Price Dataset

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Real-time price data collected by the Boston Market News Reporter. The NOAA Fisheries' "Fishery Market News" began operations in New York City on February 14, 1938....

  10. TRANSFER PRICING METHODS

    Directory of Open Access Journals (Sweden)

    Olga A. Kirova

    2014-01-01

    Full Text Available This article discusses methods of transfer pricing as a set of methods and operations on the justification of compliance rates in a transaction between related parties market level.

  11. RDBMS prices drop

    National Research Council Canada - National Science Library

    Krill, Paul

    1997-01-01

    .... Microsoft began offering a special Web browser-based access price of $2,999 per server for its SQL Server relational database management system in 1996, even though this could mean lost revenues from client licenses...

  12. AKRO: Standard Prices

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Standard prices are generated for cost recovery programs in the Individual Fishing Quota (IFQ) halibut and sablefish, BSAI Rationalized crab, and Central Gulf of...

  13. Price and cost estimation

    Science.gov (United States)

    Stewart, R. D.

    1979-01-01

    Price and Cost Estimating Program (PACE II) was developed to prepare man-hour and material cost estimates. Versatile and flexible tool significantly reduces computation time and errors and reduces typing and reproduction time involved in preparation of cost estimates.

  14. Price Recall, Bertrand Paradox and Price Dispersion With Elastic Demand

    NARCIS (Netherlands)

    Carvalho, M.

    2009-01-01

    This paper studies the consequence of an imprecise recall of the price by the consumers in the Bertrand price competition model for a homogeneous good. It is shown that firms can exploit this weakness and charge prices above the competitive price. This markup increases for rougher recall of the

  15. Forecasting Day-Ahead Electricity Prices : Utilizing Hourly Prices

    NARCIS (Netherlands)

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

    2013-01-01

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

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

    NARCIS (Netherlands)

    R.D. van Oest (Rutger); R. Paap (Richard)

    2004-01-01

    textabstractWe propose a new reference price framework for brand choice. In this framework, we employ a Markov-switching process with an absorbing state to model unobserved price recall of households. Reference prices result from the prices households are able to remember. Our model can be used to

  17. Midsouth Pulpwood Prices, 1991

    Science.gov (United States)

    Patrick E. Miller

    1993-01-01

    The average delivered price for a cord of Midsouth roundwood in 1991 was $56.39, an increase of 6.5 percent since 1990. Softwood roundwood averaged $58.24 and hardwoods, $50.48 per standard cord, up 2.8 and 7.9 percent, respectively. Chipped residue prices were $26.52 for softwood and $21.0l for hardwood per green ton. The expenditure for wood fiber in the Midsouth...

  18. Endogenous price leadership

    OpenAIRE

    van Damme, E.E.C.; Hurkens, S.

    2004-01-01

    We consider a linear price setting duopoly game with differentiated products and determine endogenously which of the players will lead and which will follow. While the follower role is most attractive for each firm, we show that waiting is more risky for the low cost firm so that, consequently, risk dominance considerations, as in Harsanyi and Selten (1988), allow the conclusion that only the high cost firm will choose to wait. Hence, the low cost firm will emerge as the endogenous price leader.

  19. Supermarket Pricing Strategies

    OpenAIRE

    Paul B. Ellickson; Sanjog Misra

    2008-01-01

    Most supermarket firms choose to position themselves by offering either everyday low prices (EDLP) across several items or offering temporary price reductions (promotions) on a limited range of items. While this choice has been addressed from a theoretical perspective in both the marketing and economic literature, relatively little is known about how these decisions are made in practice, especially within a competitive environment. This paper exploits a unique store level data set consisting ...

  20. DEMAND AND PRICES

    Directory of Open Access Journals (Sweden)

    VĂDUVA MARIA

    2014-08-01

    Full Text Available Studying the consumer’s behavior by the ordinal approach of utility with the help of indifference curves allows us to deduce the two “movement laws of demand” in this chapter: the demand for a “normal” good is decreasing function of its price and an increasing function of income. We will use the elasticity concept to measure the intensity of the relation that is established between the demand, on the one hand, and prices or income, on the other hand: elasticity – price, direct and crossed, and elasticity – income. We can classify the goods in many categories, depending on the values that this elasticity takes. The demand elasticity can be determined depending on price and income. It reflects the proportion in which the demand for different products changes with the modification of the consumers’ income, the other factors remaining constant. The elasticity compared to the income is a demonstration of legality from the consumer’s sphere, which determines a certain hierarchy of the needs of each population category in a certain level of income. The movement of prices orients both the options and decisions of producers, namely the most useful productions and the most efficient investments, as well as the consumers’ options and decisions on the most advantageous buying of goods and services that they need. The prices appear as a “signal system” coordinating and making coherence the economic agents’ decisions – producers, consumers and population.

  1. Price-Transparency and Cost Accounting

    Science.gov (United States)

    Eakin, Cynthia; Fischer, Katrina

    2015-01-01

    Health care reform is directed toward improving access and quality while containing costs. An essential part of this is improvement of pricing models to more accurately reflect the costs of providing care. Transparent prices that reflect costs are necessary to signal information to consumers and producers. This information is central in a consumer-driven marketplace. The rapid increase in high deductible insurance and other forms of cost sharing incentivizes the search for price information. The organizational ability to measure costs across a cycle of care is an integral component of creating value, and will play a greater role as reimbursements transition to episode-based care, value-based purchasing, and accountable care organization models. This article discusses use of activity-based costing (ABC) to better measure the cost of health care. It describes examples of ABC in health care organizations and discusses impediments to adoption in the United States including cultural and institutional barriers. PMID:25862425

  2. Price-Transparency and Cost Accounting

    Directory of Open Access Journals (Sweden)

    Peter Hilsenrath PhD

    2015-04-01

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

  3. Crude oil prices: Speculation versus fundamentals

    Science.gov (United States)

    Kolodziej, Marek Krzysztof

    Beginning in 2004, the price of crude oil fluctuates rapidly over a wide range. Large and rapid price increases have recessionary consequences and dampen long-term infrastructural investment. I investigate whether price changes are driven by market fundamentals or speculation. With regard to market fundamentals, I revisit econometric evidence for the importance of demand shocks, as proxied by dry maritime cargo rates, on oil prices. When I eliminate transportation costs from both sides of the equation, disaggregate OPEC and non-OPEC production, and allow for more than one cointegrating relation, I find that previous specifications are inconsistent with arguments that demand shocks play an important role. Instead, results confirm the importance of OPEC supply shocks. I investigate two channels by which speculation may affect oil prices; the direct effect of trader behavior and changes in oil from a commodity to a financial asset. With regard to trader behavior, I find evidence that trader positions are required to explain the spread between spot and futures prices of crude oil on the New York Mercantile Exchange. The inclusion of trader positions clarifies the process of equilibrium error correction, such that there is bidirectional causality between prices and trader positions. This creates the possibility of speculative bubbles. With regard to oil as a commodity and/or financial asset, I use a Kalman Filter model to estimate the time-varying partial correlation between returns to investments in equity and oil markets. This correlation changes from negative to positive at the onset of the 2008 financial crisis. The low interest rates used to rescue the economy depress convenience yields, which reduces the benefits of holding oil as a commodity. Instead, oil becomes a financial asset (on net) as the oil market changed from contango to backwardation. Contradicting simple political narratives, my research suggests that both market fundamentals and speculation drive

  4. Modeling hourly Electricity Spot Market Prices as non stationary functional times series

    OpenAIRE

    Liebl, Dominik

    2010-01-01

    The instantaneous nature of electricity distinguishes its spot prices from spot prices for equities and other commodities. Up to now electricity cannot be stored economically and therefore demand for electricity has an untempered effect on electricity prices. In particular, hourly electricity spot prices show a vast range of dynamics which can change rapidly. In this paper we introduce a robust version of functional principal component analysis for sparse data. The functional perspective inte...

  5. The Rise of Iran

    DEFF Research Database (Denmark)

    Jakobsen, Peter Viggo; Rahigh-Aghsan, Ali

    2010-01-01

    Iran is viewed by many as a rising power that poses an increasing threat to regional and even global security. This view is wrong for three reasons. Iran's hard and soft power is exaggerated by most accounts; it is too limited to allow the Iranians to dominate the Persian Gulf let alone the Middl...... regional powers and the West to balance Iran and contain its influence, even if it acquires nuclear weapons. If these limitations on Iranian power are taken into account the rise seems destined to be a short one....... East, and its brand of Shi‘ism has very limited appeal outside of Iran. Second, growing internal political and economic instability will seriously limit Iran's bid for regional dominance. Third, the failure to stop the Iranian nuclear program has led analysts to underestimate the ability of the other...

  6. The Rise of Iran

    DEFF Research Database (Denmark)

    Rahigh-Aghsan, Ali; Jakobsen, Peter Viggo

    2010-01-01

    Iran is viewed as a rising power that poses an increasing threat to regional and even global security. This view is wrong for three reasons. Iran's hard and soft power is exaggerated by most accounts; it is too limited to allow the Iranians to dominate the Persian Gulf let alone the Middle East, ...... powers and the West to balance Iran and contain its influence, even if it acquires nuclear weapons. If these limitations on Iranian power are taken into account the rise seems destined to be a short one......., and its brand of Shi‘ism has very limited appeal outside of Iran. Second, growing internal political and economic instability will seriously limit Iran's bid for regional dominance. Third, the failure to stop the Iranian nuclear program has led analysts to underestimate the ability of the other regional...

  7. The Rise of Iran

    DEFF Research Database (Denmark)

    Rahigh-Aghsan, Ali

    Iran is viewed as a rising power that poses an increasing threat to regional and even global security. This view is wrong for three reasons. Iran's hard and soft power is exaggerated by most accounts; it is too limited to allow the Iranians to dominate the Persian Gulf let alone the Middle East, ...... powers and the West to balance Iran and contain its influence, even if it acquires nuclear weapons. If these limitations on Iranian power are taken into account the rise seems destined to be a short one......., and its brand of Shi‘ism  has very limited appeal outside of Iran. Second, growing internal political and economic instability will seriously limit Iran's bid for regional dominance. Third, the failure to stop the Iranian nuclear program has led analysts to underestimate the ability of the other regional...

  8. Technology for Price Management in Industrial Differential Product Market

    Directory of Open Access Journals (Sweden)

    E. V. Orlova

    2015-01-01

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

  9. An analysis of rising health care costs.

    Science.gov (United States)

    Thorne, L M

    1992-02-01

    Why are medical costs rising so rapidly? What are the factors involved that influence those costs? Does inflation affect health care costs? Can anything be done? The solutions to these complex issues are not clearly understood. It is clear, however, that the resolutions to these questions must be found quickly. If the causes of rising medical care costs are not promptly diagnosed and treated, we may find our economic health to be in critical condition. This paper attempts to better understand the reasons for increasing health care costs. The role that inflation plays relative to health care costs is investigated.

  10. Prices in the two Germanies

    NARCIS (Netherlands)

    Dietzenbacher, E; Wagener, HJ

    Comparative evaluations across economic systems are often hampered by the typical valuation problem, that is, market prices have a different meaning than planned prices. This paper considers prices in the two Germanies and the widely accepted hypothesis that East German prices did not reflect

  11. Equilibrium adjustment of disequilibrium prices

    NARCIS (Netherlands)

    Herings, P.J.J.; van der Laan, G.; Talman, A.J.J.; Venniker, R.

    1994-01-01

    We consider an exchange economy in which price rigidities are present. In the short run the non-numeraire commodities have a exible price level with respect to the numeraire commodity but their relative prices are mutually fixed. In the long run prices are assumed to be completely exible. For a

  12. Estimating the Price Elasticity of Demand for Cannabis: A Geographical and Crowdsourced Approach

    National Research Council Canada - National Science Library

    Dennis Halcoussis; Anton D Lowenberg; Zach Roof

    2017-01-01

    Recent legalizations of cannabis at the state level in the United States have given rise to renewed interest in the price elasticity of demand for cannabis and implications for likely state excise and sales tax revenues...

  13. Pricing Strategy and Quick Response Adoption System with Strategic Customers

    Directory of Open Access Journals (Sweden)

    Junfeng Dong

    2017-01-01

    Full Text Available This study determined the competitive advantage of a quick response (QR system when a firm faces forward-looking customers with heterogeneous and uncertain valuations for a product, uncertain demand, and two selling periods. We identify two classes of pricing strategies, namely, no-price commitment strategy and price commitment strategy. Interestingly, the unique equilibrium is proven to exist if and only if most customers have high tastes on a product’s value. We also prove that when customers possess beliefs about the markdown in the second period being smaller enough, a firm obtains a high profit with price commitment; otherwise he obtains a high profit without price commitment. Moreover, we distinguish the competitive advantage of a QR system from two strategies. When a firm uses no-price commitment strategy, the value of QR system in the first period decreases and in the second period increases with customer’s strategic behavior. When a firm provides price commitment, the value of QR system in the first period may increase, decrease, or decrease first and then increase with customer’s strategic behavior. And the value of QR in the second period under price commitment strategy decreases or rises first and then decreases with customer’s strategic behavior.

  14. Board Structure and Price Informativeness

    OpenAIRE

    Ferreira, Daniel; Ferreira, Miguel A.; Raposo, Clara C.

    2008-01-01

    We develop and test the hypothesis that private information incorporated into stock prices affects the structure of corporate boards. Stock price informativeness may be a complement to board monitoring, because the information revealed by prices can be used by directors to monitor management. But price informativeness may also be a substitute for board monitoring, because more informative prices can trigger external monitoring mechanisms, such as takeovers. We find robust evidence for the sub...

  15. Food prices and poverty negatively affect micronutrient intakes in Guatemala.

    Science.gov (United States)

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

    2012-08-01

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

  16. 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. ...

  17. 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. ...

  18. 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. ...

  19. 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. ...

  20. 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. ...

  1. 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. ...

  2. 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. ...

  3. 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. ...

  4. Price smarter on the Net.

    Science.gov (United States)

    Baker, W; Marn, M; Zawada, C

    2001-02-01

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

  5. Understanding the oil price-exchange rate nexus for the Fiji islands

    Energy Technology Data Exchange (ETDEWEB)

    Narayan, Paresh Kumar [School of Accounting, Economics and Finance, Faculty of Business and Law, Deakin University, Melbourne (Australia); Narayan, Seema [School of Economics, Finance and Marketing, Royal Melbourne Institute of Technology, Melbourne (Australia); Prasad, Arti [Department of Economics, Faculty of Business and Economics, Monash University (Australia)

    2008-09-15

    In this paper, we examine the relationship between oil price and the Fiji-US exchange rate using daily data for the period 2000-2006. We use the generalised autoregressive conditional heteroskedasticity (GARCH) and exponential GARCH (EGARCH) models to estimate the impact of oil price on the nominal exchange rate. We find that a rise in oil prices leads to an appreciation of the Fijian dollar vis-a-vis the US dollar. (author)

  6. Pharmaceutical Pricing: The Use of External Reference Pricing.

    Science.gov (United States)

    Ruggeri, Kai; Nolte, Ellen

    2013-01-01

    External reference pricing, or international price comparison, is a common strategy to control prices of pharmaceuticals that are protected by intellectual property rights and benefit from a legal monopoly (in-patent drugs). In the UK negotiations are under way that seek to define new arrangements for the pricing of branded (new) medicines from 2014. The pharmaceutical market in the UK only accounts for a small proportion of global sales; however, UK prices are important as many countries reference their prices against those in the UK. This article seeks to contribute to our understanding of approaches to pharmaceutical pricing in high-income countries and the role of reference pricing as a means to determining pharmaceutical prices. Reviewing experiences in Canada, France, Germany, Italy, the Netherlands and Spain, we find high variability of external reference pricing across different settings and of the relative importance of this approach in comparison with other pricing strategies. There was also considerable variation in the terminology and practices used, and understanding the complexities of countries included in reference baskets for external pricing requires considerable semantic clarification. There was considerable overlap between countries that cross-reference, and it remains challenging to estimate the direct, immediate impact on external reference baskets. This review suggests that the international impact of pricing changes in the UK is likely to be minimal or indirect, largely because of the diverse ways in which reference pricing is implemented in the countries examined.

  7. fee - , fnof . Food Prices and Economic Well-Being in Sub-Saharan

    African Journals Online (AJOL)

    Abstract. Over the years, Sub-Saharan Africa has been one of the regions worst hit with the deleterious effects of food insecurity owing to the soaring prices of food items. Therefore, this paper examines the effects of rising food prices on economic well-being in 31 Sub-Sahara African countries from 2001-2012 using panel ...

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

    NARCIS (Netherlands)

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

    2015-01-01

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

  9. Future Pacific Rim flows and prices of softwood logs, differentiated by grade.

    Science.gov (United States)

    Donald F. Flora; Andrea L. Anderson; Wendy J. McGInnls

    1990-01-01

    By 2000, prices are expected to rise significantly for medium-grade logs and modestly for low-grade logs. World economic cycles may obscure, however, the upward price trends. Exports from the United States of medium grades are expected to remain stable, while volumes of lower grades are projected to remain level through 1995 and then decline because of competition....

  10. The impact of domestic pricing of petrol on economic growth of Nigeria

    African Journals Online (AJOL)

    Hence, the study recommends that government should reduce the PMS pump price by deregulating PMS and encourage the private sector to participate actively in the downstream of the petroleum sector in order to create competition in the sector, thereby tackling the continuous rise in PMS pump Price. Keywords: PMS ...

  11. Global Tuition Pricing: An In-Depth Analysis

    Science.gov (United States)

    Cupp, Jason W.

    2012-01-01

    This study was conducted to determine if there is a relationship between select pricing schemes used throughout the world and positive social outcomes. The rising costs of college tuition and escalating student debt has raised the concern about how students should pay for financing their education and whether the current system is the most…

  12. Unpacking the Nexus in Food Prices, Agricultural Productivity and ...

    African Journals Online (AJOL)

    Rising food prices and low agricultural productivity are major threats to feeding the teeming population of the most populous nation in Africa - Nigeria. Besides, poverty incidence in Nigeria constitutes a drawback to agricultural and economic development. Low agricultural productivity (output per hectare or yield) for cereals ...

  13. The Effects of Inflation and Pricing Policies on College Enrollments.

    Science.gov (United States)

    Ostar, Allan W.

    Some of the effects of inflation and pricing policies on college costs are discussed, and it is shown that rising college costs have a negative effect upon student opportunity and access. Continual escalation of tuition and fees can lead to a shrinking of the higher education enterprise. Federal efforts (and state efforts to the extent that they…

  14. Network Asymmetries and Access Pricing in Cellular Telecommunications

    NARCIS (Netherlands)

    V. Kocsis

    2005-01-01

    textabstractNetwork shares and retail prices are not symmetric in the telecommunications market with multiple bottlenecks which give rise to new questions of access fee regulation. In this paper we consider a model with two types of asymmetry arising from different entry timing, i.e. a larger

  15. Price and transaction volume in the Dutch housing market

    NARCIS (Netherlands)

    de Wit, E.R.; Englund, P.; Francke, M.

    2010-01-01

    Housing markets typically exhibit a strong positive correlation between the rate of price increase and the number of houses sold. We document this correlation on high-quality Dutch data for the period 1985-2007, and estimate a VEC-model that allows us to study the mechanism giving rise to the

  16. Price and transaction volume in the Dutch housing market

    NARCIS (Netherlands)

    de Wit, E.R.; Englund, P.; Francke, M.K.

    2013-01-01

    Housing markets typically exhibit a strong positive correlation between the rate of price increase and the numberof houses sold.We document this correlation on high-quality Dutch data for the period 1985-2007, and estimate a VEC-model that allows us to study the mechanism giving rise to the

  17. Cost and Price Collaboration

    Science.gov (United States)

    2016-04-30

    competitions and dual sourcing. [patrick.n.watkins4.civ@mail.mil] Abstract This paper examines how collaboration between the cost analysis and price ...qÜáêíÉÉåíÜ=^ååì~ä= ^Åèìáëáíáçå=oÉëÉ~êÅÜ= póãéçëáìã= qÜìêëÇ~ó=pÉëëáçåë= sçäìãÉ=ff= = Cost and Price Collaboration Venkat Rao, Professor, Defense Acquisition...University David Holm, Director, Cost and Systems Analysis, TACOM LCMC Patrick Watkins, Chief, Stryker/Armaments Pricing Group, Army Contracting

  18. Essays on Derivatives Pricing

    DEFF Research Database (Denmark)

    Kokholm, Thomas

    The field of quantitative finance has been criticized in the mainstream media lately and been accused of being one of the causes of the financial crisis. Convenient as this explanation may be, my belief is that a part of the solution to the crisis is to use more (and not less) sophisticated...... financial models, and most importantly, to be aware of their limitations. Following that belief, this thesis consists of three independent and self-contained papers, all dealing with topics in derivatives pricing. The first paper considers the pricing of traffic light options, which are appropriate...... the market for multivariate credit instruments, we take a step back and focus on single-name default modeling and introduce two new model classes for modeling of the default time of a company. Finally, in the third paper we propose a consistent pricing model for index and volatility derivatives...

  19. Animal health and price transmission along livestock supply chains.

    Science.gov (United States)

    Aragrande, M; Canali, M

    2017-04-01

    Animal health diseases can severely affect the food supply chain by causing variations in prices and market demand. Price transmission analysis reveals in what ways price variations are transmitted along the supply chain, and how supply chains of substitute products and different regional markets are also affected. In perfect markets, a price variation would be completely and instantaneously transmitted across the different levels of the supply chain: producers, the processing industry, retailers and consumers. However, empirical studies show that food markets are often imperfect, with anomalies or asymmetries in price transmission and distortions in the distribution of market benefits. This means, for instance, that a price increase at the consumer level may not be transmitted from retailers to processors and producers; yet, on the other hand, price falls may rapidly affect the upstream supply chain. Market concentration and the consequent exertion of market power in key segments of the supply chain can explain price transmission asymmetries and their distributional effects, but other factors may also be involved, such as transaction costs, scale economies, and imperfect information. During the bovine spongiform encephalopathy (BSE) crisis, asymmetric price transmission in the beef supply chain and related meat markets determined distributional effects among sectors. After the spread of the BSE food scare, the fall in demand marginally affected the price paid to retailers, but producers and wholesalers suffered much more, in both price reductions and the time needed to recover to precrisis demand. Price transmission analysis investigates how animal health crises create different economic burdens for various types of stakeholder, and provides useful socioeconomic insights when used with other tools.

  20. Pricing Volatility Referenced Assets

    Directory of Open Access Journals (Sweden)

    Alan De Genaro Dario

    2006-12-01

    Full Text Available Volatility swaps are contingent claims on future realized volatility. Variance swaps are similar instruments on future realized variance, the square of future realized volatility. Unlike a plain vanilla option, whose volatility exposure is contaminated by its asset price dependence, volatility and variance swaps provide a pure exposure to volatility alone. This article discusses the risk-neutral valuation of volatility and variance swaps based on the framework outlined in the Heston (1993 stochastic volatility model. Additionally, the Heston (1993 model is calibrated for foreign currency options traded at BMF and its parameters are used to price swaps on volatility and variance of the BRL / USD exchange rate.

  1. Wireless network pricing

    CERN Document Server

    Huang, Jianwei

    2013-01-01

    Today's wireless communications and networking practices are tightly coupled with economic considerations, to the extent that it is almost impossible to make a sound technology choice without understanding the corresponding economic implications. This book aims at providing a foundational introduction on how microeconomics, and pricing theory in particular, can help us to understand and build better wireless networks. The book can be used as lecture notes for a course in the field of network economics, or a reference book for wireless engineers and applied economists to understand how pricing

  2. Transfer Pricing Principles

    DEFF Research Database (Denmark)

    Jensen, Dennis Ramsdahl

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

  3. IS THE PRICE RIGHT? PRICING FOR LONG TERM PROFITABILITY

    Directory of Open Access Journals (Sweden)

    Andrea Erika NYÁRÁDI

    2007-01-01

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

  4. Social Sustainability of High-Rise Buildings

    OpenAIRE

    Mohammad Javad Mahdavinejad; Ali Sadraie; Golrokh Sadraie

    2014-01-01

    Nowadays, High-rise building is proposed as a dominant form in world’s Major cities which its rapid growth has caused social and cultural concerns of the residents of these buildings. Social capital is remembered as a basis for economic development of any society. Its importance can be seen in the economic development of developing countries. Social capital is the invisible wealth of a country that encompasses institutions, relationships and norms that shape social interactions. In this paper...

  5. 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...

  6. Grain price spikes and beggar-thy-neighbor policy responses

    DEFF Research Database (Denmark)

    Jensen, Hans Grinsted; Anderson, Kym

    2017-01-01

    of the interactions between markets for farm products that are closely related in production and/or consumption and able to estimate the impacts of those insulating policies on grain prices and on the grain trade and economic welfare of the world's various countries. Our results support the conclusion from earlier......When prices spike in international grain markets, national governments often reduce the extent to which that spike affects their domestic food markets. Those actions exacerbate the price spike and international welfare transfer associated with that terms of trade change. Several recent analyses...... have assessed the extent to which those policies contributed to the 2006–08 international price rises but only by focusing on one commodity or by using a back-of-the envelope (BOTE) method. The present more comprehensive analysis uses a global, economy-wide model that is able to take account...

  7. Grain price spikes and beggar-thy-neighbor policy responses

    DEFF Research Database (Denmark)

    Jensen, Hans Grinsted; Anderson, Kym

    of the interactions between markets for farm products that are closely related in production and/or consumption, and able to estimate the impacts of those insulating policies on grain prices and on the grain trade and economic welfare of the world’s various countries. Our results support the conclusion from earlier......When prices spike in international grain markets, national governments often reduce the extent to which that spike affects their domestic food markets. Those actions exacerbate the price spike and international welfare transfer associated with that terms of trade change. Several recent analyses...... have assessed the extent to which those policies contributed to the 2006-08 international price rise, but only by focusing on one commodity or using a back-of-the envelope (BOTE) method. This paper provides a more-comprehensive analysis using a global economy-wide model that is able to take account...

  8. A systematic review of reference pricing: implications for US prescription drug spending.

    Science.gov (United States)

    Lee, Joy Li-Yueh; Fischer, Micahel A; Shrank, William H; Polinski, Jennifer M; Choudhry, Niteesh K

    2012-11-01

    Given rising pharmaceutical expenditures and the widespread use of reference pricing as a costcontainment instrument abroad, we systematically reviewed the evidence evaluating reference pricing policies. We performed a structured electronic search of peer-reviewed journals for studies published before that reported on the effects of reference pricing policies on medication use, payer and patient spending, and resource consumption. Our search yielded 16 studies describing 9 reference-pricing policies from 6 countries. Reference-pricing policies led to decreases in drug prices and increases in utilization of targeted medications, while also reducing payer and patient expenditures. In addition, these policies did not lead to increased use of medical services, such as physician office visits and hospitalization. These results suggest that reference pricing may be an attractive policy strategy for the US healthcare system.

  9. Pricing Strategy versus Heterogeneous Shopping Behavior under Market Price Dispersion

    National Research Council Canada - National Science Library

    Álvarez, Francisco; Rey, José-Manuel; Sanchis, Raúl G

    2016-01-01

      We consider the ubiquitous problem of a seller competing in a market of a product with dispersed prices and having limited information about both his competitors' prices and the shopping behavior...

  10. Pharmaceutical Pricing: The Use of External Reference Pricing

    OpenAIRE

    Ruggeri, Kai; Nolte, Ellen

    2013-01-01

    This article reviews approaches to pharmaceutical pricing in Canada, France, Germany, Italy, the Netherlands and Spain to inform better understanding of the role of external reference pricing and its relevance to the UK.

  11. ANTESEDEN DAN KONSEKUENSI DARI PRICE SATISFACTION

    OpenAIRE

    Steven Dharma; Asep Hermawan

    2012-01-01

    The purpose of this paper is to explore the antecedents and consequents of price satisfaction. It argues that price satisfaction is composed of several dimensions (price transparency, pricequality ratio, relative price, price confidence, price reliability, and price fairness) and that companies should consider these dimensions when monitoring customer price satisfaction. Based on a theoretical discussion of the price dimensions, a questionnaire is developed that measures customer satisfact...

  12. Road pricing policy implementation

    NARCIS (Netherlands)

    Vonk Noordegraaf, D.M.

    2016-01-01

    Urban areas suffer from the negative externalities of road transport like congested road networks, air pollution and road traffic accidents. A measure to reduce these negative externalities is road pricing, meaning policies that impose direct charges on road use (Jones and Hervik, 1992). Since the

  13. 2050: A Pricing Odyssey

    Energy Technology Data Exchange (ETDEWEB)

    Faruqui, Ahmad

    2006-10-15

    The author uses the Rip Van Winkle approach favored by marketers to gaze, clear-eyed, into the future - say, the year 2050 - to visualize alternative demand-response possibilities. Dare we go California Dreamin' of a distant utopia - or is it inevitable that pricing myopia will keep us from attaining the fulfillment of many of our career goals? (author)

  14. On Storekeepers' Pricing Behavior.

    NARCIS (Netherlands)

    B. Bode (Ben); J. Koerts (Johan); A.R. Thurik (Roy)

    1986-01-01

    textabstractThis research note deals with a quantitative analysis of differences in percentage gross margin between individual stores in the retail trade. A number of hypotheses on pricing behavior of storekeepers are tested using Dutch survey data from nine different types of retail stores. We

  15. Price of Prejudice

    DEFF Research Database (Denmark)

    Hedegaard, Morten; Tyran, Jean-Robert Karl

    2017-01-01

    We present a new type of field experiment to investigate ethnic prejudice in the workplace. Our design allows us to study how potential discriminators respond to changes in the cost of discrimination. We find that ethnic discrimination is common but highly responsive to the “price of prejudice”, i...

  16. The rise of Chrome

    Directory of Open Access Journals (Sweden)

    Jonathan Tamary

    2015-10-01

    Full Text Available Since Chrome’s initial release in 2008 it has grown in market share, and now controls roughly half of the desktop browsers market. In contrast with Internet Explorer, the previous dominant browser, this was not achieved by marketing practices such as bundling the browser with a pre-loaded operating system. This raises the question of how Chrome achieved this remarkable feat, while other browsers such as Firefox and Opera were left behind. We show that both the performance of Chrome and its conformance with relevant standards are typically better than those of the two main contending browsers, Internet Explorer and Firefox. In addition, based on a survey of the importance of 25 major features, Chrome product managers seem to have made somewhat better decisions in selecting where to put effort. Thus the rise of Chrome is consistent with technical superiority over the competition.

  17. Is sea-level rising?

    Digital Repository Service at National Institute of Oceanography (India)

    Unnikrishnan, A.S.

    There has been considerable research on sea-level-rise caused by global warming. The various reports of the Intergovernmental Panel on Climate Change (IPCC) made assessments of observed sea level rise and future projections. Figure 1 shows a global...

  18. Price transparency: building community trust.

    Science.gov (United States)

    Clarke, Richard L

    2007-01-01

    With the push from policymakers, payers, and consumers for hospitals to make their prices public, healthcare executives need to recognize two central issues related to price transparency: 1) meaningful price transparency involves helping patients and consumers understand their financial obligation for an episode of care, and 2) price transparency is key to the most critical success strategy for healthcare providers: building trust. This article reviews the history of pricing and billing practices and explores why price transparency is not easily achieved in today's environment. Pricing is a mystery even to those of us who work in the field, yet despite its complexity, the call for price transparency is not going to go away. For transparency, the goal should be to establish a rational pricing system that is easily explainable and justified to all stakeholders. Healthcare executives must make pricing a priority, understand cost, develop a pricing philosophy, understand the overall revenue requirements, examine market conditions and prices, and set up systems for review. A rational process of price setting should enhance community trust. In this matter there is nothing less at stake than the hearts of our community members.

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

    Science.gov (United States)

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

    2018-01-01

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

  20. Exchange rates, petroleum prices and price determination in Sierra ...

    African Journals Online (AJOL)

    This study determined the effects of monetary environment, exchange rate movement and petroleum prices on domestic prices in Sierra Leone by estimating a hybrid model of inflation. The empirical results showed that petroleum product prices, exchange rate as well as monetary factors determined inflation in Sierra Leone ...

  1. 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.

  2. Price Regulations in a Multi-unit Uniform Price Auction

    DEFF Research Database (Denmark)

    Boom, Anette

    Inspired by recent regulations in the New York ICAP market we examine the effect of different price regulations on a multi-unit uniform price auction. We investigate a bid cap and a bid foor. Given suffciently high total capacities general bid caps always ensure that the market price does...

  3. Strategic Delegation in Price Competition

    OpenAIRE

    Güth, Werner; Pull, Kerstin; Stadler, Manfred

    2012-01-01

    We study price competition in heterogeneous markets where price decisions are delegated to agents. Principals implement a revenue sharing scheme to which agents react by commonly charging a sales price. The results of our model exemplify the importance of both intrafirm- and interfirm interactions of principals and agents in competition. We show that price delegation can increase or decrease the firms' surplus depending on the heterogeneity of the market and the number of agents employed by t...

  4. Developing a consumer pricing strategy.

    Science.gov (United States)

    Sturm, Arthur; Tiedemann, Frank

    2013-05-01

    Healthcare providers can learn a variety of pricing lessons from the retail market: For providers, wholesale pricing--"the price to play"--alone is not enough. Once a hospital or health system chooses a market position, the provider creates an expectation that must be met-consistently. Consumer loyalty is fluid, and the price of care or service is not always the motivator for choosing one organization over another; intangibles such as location and level of customer service also drive purchasing decisions.

  5. Home Price Beliefs in Australia

    OpenAIRE

    Callan Windsor; Gianni La Cava; James Hansen

    2014-01-01

    We document some new stylised facts about how Australian homeowners value their homes using household panel data and unit-record data on home sale prices. We find that homeowners' price beliefs are unbiased at the postcode level, on average, although there is considerable dispersion in the difference between beliefs and prices across postcodes. Household characteristics, such as age and tenure, and the regional unemployment rate are correlated with differences between beliefs and prices. We a...

  6. Electric Cars and Oil Prices

    OpenAIRE

    Azar, Jose

    2009-01-01

    This paper studies the joint dynamics of oil prices and interest in electric cars, measured as the volume of Google searches for related phrases. Not surprisingly, I find that oil price shocks predict increases in Google searches for electric cars. Much more surprisingly, I also find that an increase in Google searches predicts declines in oil prices. The high level of public interest in electric cars between April and August of 2008 can explain approximately half of the decline in oil prices...

  7. Food price policy can favorably alter macronutrient intake in China.

    Science.gov (United States)

    Guo, X; Popkin, B M; Mroz, T A; Zhai, F

    1999-05-01

    The rapid change in diets, physical activity and body composition in low income countries has led to the coexistence of large pockets of undernutrition and overnutrition. Public health strategies for addressing this situation may be necessary, and price policy options are examined for China. Longitudinal dietary data collected in China in 1989-1993 on a sample of 5625 adults aged 20-45 y were examined. Three-day averages of food group consumption and nutrient intake were used in longitudinal statistical models to examine separately the effects of food prices on the decision to consume each food group and then the amount consumed. The effects of changes in six food prices on the consumption of each of six food groups, not just the food group whose price had changed, and on three macronutrients were estimated. The effects show large and significant price effects. If the joint effects of the nutrition transition are to be considered, then there are clear tradeoffs among which foods to tax and which to subsidize. Most important is the effect of prices in reducing fat intake of the rich but not adversely affecting protein intake for the poor. Increases in the prices of pork, eggs and edible oils are predicted to lower fat intake. Only increases in pork prices led to reduced protein intakes. This raises questions about earlier policy changes being implemented in China and provides insight into an important and controversial area for public health policy.

  8. Price Regulations in a Multi-unit Uniform Price Auction

    DEFF Research Database (Denmark)

    Boom, Anette

    not exceed the price cap whereas a selective bid cap for only the larger firms, does not guarantee this outcome. A sufficiently high bid floor always destroys pure strategy equilibria with equilibrium prices above the marginal costs, no matter whether the floor applies to all or only to relatively small......Inspired by recent regulations in the New York ICAP market we examine the effect of different price regulations on a multi-unit uniform price auction. We investigate a bid cap and a bid foor. Given suffciently high total capacities general bid caps always ensure that the market price does...

  9. Price Regulations in a Multi-unit Uniform Price Auction

    DEFF Research Database (Denmark)

    Boom, Anette

    Inspired by recent regulations in the New York ICAP market we examine the effect of different price regulations on a multi-unit uniform price auction. We investigate a bid cap and a bid foor. Given suffciently high total capacities general bid caps always ensure that the market price does...... not exceed the price cap whereas a selective bid cap for only the larger firms, does not guarantee this outcome. A sufficiently high bid floor always destroys pure strategy equilibria with equilibrium prices above the marginal costs, no matter whether the floor applies to all or only to relatively small...

  10. ACREAGE RESPONSE OF SUGARCANE TO PRICE AND NON PRICE FACTORS IN KHYBER PAKHTUNKHWA

    Directory of Open Access Journals (Sweden)

    Muhammad Saddiq

    2014-07-01

    Full Text Available This study analyzed 42 years’ time series data from 1970-2011 for the acreage response of sugarcane to price and non-price factors in Khyber Pakhtunkhwa. Data was tested for major expected problems of time series i.e. Autocorrelation and Stationarity. For autocorrelation Durban h statistics was used and the value (0.539 indicates no serial Autocorrelation in the data set. While Augmented Dickey Fuller test was used for detection of Stationarity and the data was stationary at lag one. The study follows Nerlovian Partial Adjustment linear and non-linear models for acreage response. While Vector Auto Regression technique was used to estimate the effect of price and non-price factors on acreage allocation decisions of the farmers for sugarcane in the study area. The empirical results show that short run and long run elastisities are inelastic for all the variables and statistically significant at 5% significance level except average rainfall. Further, the influence of price, yield, and lag area are positive and significant in affecting acreage allocation decision. This means that if price, yield and lag area are enhanced, the acreage allocation of sugarcane might improve in-elastically. The relatively low values of coefficients obtained from the regression analysis indicates that sugarcane producers in making acreage allocation influenced more by their ideas of expected price than by previous year price. Similarly the magnitude of the linear and log coefficient of yield (0.676 and (0.208 suggesting that if rising trend in sugarcane yield persists it will help farmers’ expansion of sugarcane cultivation in future. Further, the relatively high value of the coefficients of lagged area (0.300 and (0.298 of sugarcane suggests that their area allocation adjust quickly for changes in expected profit. As the literature shows that mostly price is the main factors in shifting the area allocation of any crop while this paper shows that lag area was a main

  11. Macroeconomic variables and food price inflation, nonfood price inflation and overall inflation: A case of an emerging market

    Directory of Open Access Journals (Sweden)

    Raphael T Mpofu

    2017-03-01

    Full Text Available The paper analyses the association between certain macroeconomic variables and food price inflation, non-food price inflation and overall inflation in Zimbabwe, and also seeks to determine the level of association between these variables, given food security implications and overall well-being of its citizens. The study reveals that during the 2010 to 2016 period, Zimbabwe experienced stable food prices—annual food price inflation for food and non-alcoholic beverages averaged a relatively low growth rate of 0.12% monthly, while non-food inflation monthly growth rate was 0.09% and overall inflation growth rate was 0.11%. Although inflation from 2010 had been declining, of late, the increase in annual inflation has been underpinned by a rise in non-food inflation. Zimbabwe’s annual inflation remains lower than inflation rates in other countries in the region. Despite the increases lately in overall inflation, it remained below zero in January 2016, mostly driven by the depreciation of the South African rand and declining international oil prices. It should also be noted that domestic demand continued to decline in 2015, leading to the observed decline in both food and non-food prices. While food inflation has remained relatively low, it should be noted that non-food expenditures is significant component of the household budget and the rising prices result often lead to declining purchasing power and force households to make difficult choices in terms of their purchases. The findings of the study are food inflation has a low association with the independent variables under study; Zimbabwe broad money supply, rand-dollar exchange rates and the South Africa food inflation. There is, however, a very strong association between non-food inflation and these independent variables, as well as between overall inflation and the independent variables. Given the mostly rural population and the high level of unemployment in Zimbabwe, it can be surmised that

  12. RESTAURANT NO. 2: PRICE INCREASES

    CERN Multimedia

    2003-01-01

    'DSR', the concession holder of Restaurant no. 2 (bldg. 504 - Meyrin site), has submitted to the Restaurant Supervisory Committee a request to increase certain prices. After close examination, the Committee has established that the proposed increases are compatible with the relevant price indexing mechanisms and other contractual conditions. The new prices will apply as from Monday, June 30, 2003.

  13. RESTAURANT NO. 3: PRICE INCREASES

    CERN Multimedia

    2003-01-01

    'AVENANCE', the concession holder of Restaurant no. 3 (bldg. 866 - Prévessin site), has submitted to the Restaurant Supervisory Committee a request to increase its prices. After close examination, the Committee has established that the proposed increases are compatible with the relevant price indexing mechanisms and other contractual conditions. The new prices will apply as from Monday, June 2, 2003.

  14. Quantity precommitment and price matching

    DEFF Research Database (Denmark)

    Tumennasan, Norovsambuu

    We revisit the question of whether price matching is anti-competitive in a capacity constrained duopoly setting. We show that the effect of price matching depends on capacity. Specifically, price matching has no effect when capacity is relatively low, but it benefits the firms when capacity is re...

  15. Pricing Policies for Quantity Discounts

    OpenAIRE

    Maqbool Dada; K. N. Srikanth

    1987-01-01

    In this paper we analyze the seller's decision to offer quantity discounts to the buyer. We build on an existing model as follows. We first characterize the range of order sizes and prices which reduce costs for the buyer and seller, and develop related pricing schemes. The model is then extended to allow inventory carrying costs to be a function of price.

  16. Patients' views on price shopping and price transparency.

    Science.gov (United States)

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

    2017-06-01

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

  17. The impact of relative energy prices on industrial energy consumption in China: a consideration of inflation costs.

    Science.gov (United States)

    He, Lingyun; Ding, Zhihua; Yin, Fang; Wu, Meng

    2016-01-01

    Significant effort has been exerted on the study of economic variables such as absolute energy prices to understand energy consumption and economic growth. However, this approach ignores general inflation effects, whereby the prices of baskets of goods may rise or fall at different rates from those of energy prices. Thus, it may be the relative energy price, not the absolute energy price, that has most important effects on energy consumption. To test this hypothesis, we introduce a new explanatory variable, the domestic relative energy price, which we define as "the ratio of domestic energy prices to the general price level of an economy," and we test the explanatory power of this new variable. Thus, this paper explores the relationship between relative energy prices and energy consumption in China from the perspective of inflation costs over the period from 1988 to 2012. The direct, regulatory and time-varying effects are captured using methods such as ridge regression and the state-space model. The direct impacts of relative energy prices on total energy consumption and intensity are -0.337 and -0.250, respectively; the effects of comprehensive regulation on energy consumption through the economic structure and the energy structure are -0.144 and -0.148, respectively; and the depressing and upward effects of rising and falling energy prices on energy consumption are 0.3520 and 0.3564, respectively. When economic growth and the energy price level were stable, inflation persisted; thus, rising energy prices benefitted both the economy and the environment. Our analysis is important for policy makers to establish effective energy-pricing policies that ensure both energy conservation and the stability of the pricing system.

  18. Determinants and Sustainability of House Prices: The Case of Shanghai, China

    Directory of Open Access Journals (Sweden)

    Gao Lu Zou

    2015-04-01

    Full Text Available Recent housing policies include measures for home purchase control and shanty town redevelopment. This study proposes sustainable pricing, in that the long-run equilibrium price is determined by the fundamentals of house prices. We argue that changes in CPI might have led to rapidly growing house prices and rather high price levels. We investigate the long-run or short-run impacts of new commodity housing completions, transacted square meters of commodity housing, and CPI for house prices in Shanghai. We adopt monthly data for the period of 2005–2010. We test for unit roots using both the ADF and PP techniques and structural breaks using both the Zivot-Andrews (Model B and Perron (Model C methods. Considering Cheung-Lai and Reinsel–Ahn finite-sample corrections, the results suggest a long-run equilibrium. Housing completions negatively impact house prices in the short run. A positive volume-price relationship is suggested. Housing sales affect house prices in the short run but not vice versa. Hence, the empirical evidence supports the search model. In addition, CPI is strongly exogenous with respect to the long-run relationship and thus is a long-term determinant of house prices. CPI also positively and drastically influences house prices in the short run. Therefore, a reduction in inflation rate could stabilize house prices, increasing the chances of sustainable prices in the future.

  19. Asset Pricing without Garbage

    OpenAIRE

    Kroencke, Tim Alexander

    2014-01-01

    This paper provides an explanation why garbage as a measure of consumption implies a several times lower coefficient of relative risk aversion in the consumption-based asset pricing model than consumption based on the official National Income and Product Ac- counts (NIPA): Unlike garbage, NIPA consumption is filtered to mitigate measurement error. I apply a structural model of the filtering process, which allows to revoke the filter inherent in NIPA consumption. "Unfiltered NIP...

  20. Price Competition or Tacit Collusion

    OpenAIRE

    Yano, Makoto; Komatsubara, Takashi

    2012-01-01

    Every now and then, we observe a fierce price war in a real world market, through which competing firms end up with a Bertrand-like price competition equilibrium. Despite this, very little has been known in the existing literature as to why a price competition market is formed. We address this question in the context of a choice between engaging in price competition and holding a price leader. Focusing on a duopoly market, we demonstrate that if supply is tight relative to demand, and if the ...

  1. 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 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...... of all countries, independently of whether world prices change and independently of the relative numbers of goods and countries....

  2. Albania Residential Prices

    Directory of Open Access Journals (Sweden)

    Luciana Koprencka

    2016-04-01

    Full Text Available The real estate market is complex and influenced by too many factors. Real Estate market in Albania has experienced a boom after the 1990. We have inherited from the communist system a very poor market of housing. The number of dwellings in 1990 in Albania was 219 dwellings per 1000 inhabitants and the useful floor space was 5 m² per person, but in Bulgaria number of dwellings per 1,000 people varies 465 and in Romania average useful floor space per person was 37 sq. The data used in this study are derived from the database of the World Bank, the Institute of Statistics, reports of Bank of Albania also from information provided individually on the ground and different sources. In this study is analyzed the relationship that exists between economic growth, remittances and the price of dwellings in Albania. The dependent variable is the average price of housing in major cities of Albania. Independent variables in the model are GDP per capita and the remittances. The Econometric model is a Linear Regress equation and the period are the years from 1998 to 2013. The model used is the statistical program EViews 6.0. Unfortunately the information let the desired, so we do not have an official detailed information on prices of Albanian real estate market. In Albania few researchers have been studying real estate market in Albania.

  3. Market price of risk

    Directory of Open Access Journals (Sweden)

    Kožul Nataša

    2017-01-01

    Full Text Available Most people find stochastic calculus intimidating and skip through complex equations. While there is no way of simplifying them, this work is an attempt to relate some of the widely used concepts in pricing financial derivatives to the practical market observations. Recent financial crisis has brought many adverse economic changes, but has also challenged the long-standing beliefs, such as that interest rates will always remain positive. Although the debate on its exact causes is unlikely to be settled, many blame complex derivatives and underlying models. Quantitative analysts that developed them, on the other hand, claim that the math was correct, but the complex products were mis-sold. Regardless of what side one wishes to take, the fact remains that the stochastic differential equations and integrals underlying most derivatives pricing models cannot be easily related to the actual market movements. Here, Markov and Wiener processes - the cornerstones of financial calculus - are explained in relation to return on investment, via market price of risk.

  4. Industrial Pricing: Theory and Managerial Practice

    OpenAIRE

    Peter M. Noble; Thomas S. Gruca

    1999-01-01

    We organize the existing theoretical pricing research into a new two-level framework for industrial goods pricing. The first level consists of four pricing situations: New Product, Competitive, Product Line, and Cost-based. The second level consists of the pricing strategies appropriate for a given situation. For example, within the new product pricing situation, there are three alternative pricing strategies: Skim, Penetration, and Experience Curve pricing. There are a total of ten pricing s...

  5. Price floors for emissions trading

    Energy Technology Data Exchange (ETDEWEB)

    Wood, Peter John, E-mail: Peter.J.Wood@anu.edu.a [Resource Management in Asia Pacific Program, Crawford School of Economics and Government, Australian National University, Canberra ACT 0200 (Australia); Jotzo, Frank, E-mail: frank.jotzo@anu.edu.a [Resource Management in Asia Pacific Program, Crawford School of Economics and Government, Australian National University, Canberra ACT 0200 (Australia)

    2011-03-15

    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: {yields} Price floors for emissions trading schemes guarantee a minimum carbon price. {yields} Price floors mean that emissions can be less than specified by the ETS cap. {yields} We examine how price floors can relate to different policy objectives. {yields} We compare different mechanisms for implementing a price floor. {yields} We find that a mechanism where there is an extra tax or fee has advantages.

  6. Trading network predicts stock price.

    Science.gov (United States)

    Sun, Xiao-Qian; Shen, Hua-Wei; Cheng, Xue-Qi

    2014-01-16

    Stock price prediction is an important and challenging problem for studying financial markets. Existing studies are mainly based on the time series of stock price or the operation performance of listed company. In this paper, we propose to predict stock price based on investors' trading behavior. For each stock, we characterize the daily trading relationship among its investors using a trading network. We then classify the nodes of trading network into three roles according to their connectivity pattern. Strong Granger causality is found between stock price and trading relationship indices, i.e., the fraction of trading relationship among nodes with different roles. We further predict stock price by incorporating these trading relationship indices into a neural network based on time series of stock price. Experimental results on 51 stocks in two Chinese Stock Exchanges demonstrate the accuracy of stock price prediction is significantly improved by the inclusion of trading relationship indices.

  7. [Preliminary influence of 2015 cigarette excise tax up-regulation on cigarette retail price].

    Science.gov (United States)

    Feng, G Z; Wang, C X; Yang, J Q; Jiang, Y

    2016-10-10

    Objective: To evaluate the impact of cigarette excise tax up-regulation on the retail price of cigarettes in 2015. Methods: Nominal and real price of selected cigarette varieties were calculated with data from Tobacco Retail Price Monitoring Project, which was conducted in 10 cities of China from 2013 to 2015. The trend of the cigarette prices changing was analyzed with annual data. Results: A total of 352 varieties of cigarettes were surveyed during the three years. The nominal price of these cigarettes did not change significantly from 2013 to 2014. Compared with nominal price of 2014, the price of 286 varieties increased and the price of 10 most popular varieties increased from 0.6% to 7.4% after cigarette excise tax increased, but the actual prices had both rise and fall compared with 2013. Conclusions: Cigarette excise tax raise in 2015 had influence on the retail price of cigarettes. But the increase in retail price was very limited, if factors including inflation and purchasing power are taken into consideration. Therefore, the influence of 2015 cigarette excise tax raise on tobacco control needs further evaluation.

  8. The third oil price surge. What's different this time?

    Energy Technology Data Exchange (ETDEWEB)

    Kesicki, Fabian [Energy Institute, University College London, 14 Upper Woburn Place, London WC1H 0HY (United Kingdom)

    2010-03-15

    The period from 2003 to 2008 was marked by an oil price increase comparable to the two oil price crises in the 1970s. This paper looks in detail at the situation of the oil price crises 30 years ago and compares them along various aspects on the demand and supply side with the recent price increase to identify similarities and differences. While both oil price crises in 1973 and 1979/1980 were ultimately caused by supply actions of members of the Organisation of Petroleum Exporting Countries (OPEC), all three oil price crises were preceded by high demand growth. Other aspects that favoured a high oil price in all three cases were low investments in new oil fields, as a consequence low spare capacity, and a weak US dollar. In addition, the recent oil price surge has been characterised by a high global refinery utilisation and refineries that did not adapt fast enough to the rising demand for lighter oil products. Moreover, broader geopolitical uncertainties, combined with risks associated with the oil trade helped push the oil price into a triple-digit zone. Speculation played only a limited and temporary role in accelerating price movements during the recent price increase. (author)

  9. The third oil price surge - What's different this time?

    Energy Technology Data Exchange (ETDEWEB)

    Kesicki, Fabian, E-mail: Fabian.Kesicki.09@ucl.ac.u [Energy Institute, University College London, 14 Upper Woburn Place, London WC1H 0HY (United Kingdom)

    2010-03-15

    The period from 2003 to 2008 was marked by an oil price increase comparable to the two oil price crises in the 1970s. This paper looks in detail at the situation of the oil price crises 30 years ago and compares them along various aspects on the demand and supply side with the recent price increase to identify similarities and differences. While both oil price crises in 1973 and 1979/1980 were ultimately caused by supply actions of members of the Organisation of Petroleum Exporting Countries (OPEC), all three oil price crises were preceded by high demand growth. Other aspects that favoured a high oil price in all three cases were low investments in new oil fields, as a consequence low spare capacity, and a weak US dollar. In addition, the recent oil price surge has been characterised by a high global refinery utilisation and refineries that did not adapt fast enough to the rising demand for lighter oil products. Moreover, broader geopolitical uncertainties, combined with risks associated with the oil trade helped push the oil price into a triple-digit zone. Speculation played only a limited and temporary role in accelerating price movements during the recent price increase.

  10. Towards an agricultural prices index for Ireland 1850-1914

    OpenAIRE

    Turner, Michael

    1987-01-01

    An Irish agricultural prices index is presented for the period 1850-1914, based upon the shares of various agricultural products in total value added agricultural output. It supersedes a quasi-official construction of 1915 because it is based on variable weights which reflect the changing product mix of Irish agriculture, and it includes the decades of post-Famine recovery. The period from 1850-1890 was one of almost continuously rising real agricultural prices followed by two and a half deca...

  11. Population growth and the benefits from optimally priced externalities.

    Science.gov (United States)

    Clarke, H R; Ng Y-k

    1995-06-01

    "In this article we show that, considering only economic effects, even if population growth, by natural increase or immigration, increases congestion, pollution, and other forms of external costs, that provided pre-existing citizens own the resources giving rise to the externalities, and provided they efficiently price usage of such, that existing citizens must, in net average terms, be better off with population growth than without it. In simple terms the increased revenues they gain from efficient pricing at increased demand levels will be strictly greater than the monetary value of the increased external costs together with the higher tax costs they incur as consumers of the resources." excerpt

  12. Food Prices Transmission In Rwanda: Econometric Analysis ...

    African Journals Online (AJOL)

    This paper analyses the food prices transmission using econometric techniques where vector autoregressive models were formulated. Price transmission means the change of one price caused by the change of another price. Spatial price transmission is used in this study and price transmission is affected by different ...

  13. Impact of external price referencing on medicine prices - a price comparison among 14 European countries.

    Science.gov (United States)

    Leopold, Christine; Mantel-Teeuwisse, Aukje Katja; Seyfang, Leonhard; Vogler, Sabine; de Joncheere, Kees; Laing, Richard Ogilvie; Leufkens, Hubert

    2012-12-01

    This study aims to examine the impact of external price referencing (EPR) on on-patent medicine prices, adjusting for other factors that may affect price levels such as sales volume, exchange rates, gross domestic product (GDP) per capita, total pharmaceutical expenditure (TPE), and size of the pharmaceutical industry. Price data of 14 on-patent products, in 14 European countries in 2007 and 2008 were obtained from the Pharmaceutical Price Information Service of the Austrian Health Institute. Based on the unit ex-factory prices in EURO, scaled ranks per country and per product were calculated. For the regression analysis the scaled ranks per country and product were weighted; each country had the same sum of weights but within a country the weights were proportional to its sales volume in the year (data obtained from IMS Health). Taking the scaled ranks, several statistical analyses were performed by using the program "R", including a multiple regression analysis (including variables such as GDP per capita and national industry size). This study showed that on average EPR as a pricing policy leads to lower prices. However, the large variation in price levels among countries using EPR confirmed that the price level is not only driven by EPR. The unadjusted linear regression model confirms that applying EPR in a country is associated with a lower scaled weighted rank (p=0.002). This interaction persisted after inclusion of total pharmaceutical expenditure per capita and GDP per capita in the final model. The study showed that for patented products, prices are in general lower in case the country applied EPR. Nevertheless substantial price differences among countries that apply EPR could be identified. Possible explanations could be found through a correlation between pharmaceutical industry and the scaled price ranks. In conclusion, we found that implementing external reference pricing could lead to lower prices.

  14. Impact of External Price Referencing on Medicine Prices – A Price Comparison Among 14 European Countries

    Science.gov (United States)

    Leopold, Christine; Mantel-Teeuwisse, Aukje Katja; Seyfang, Leonhard; Vogler, Sabine; de Joncheere, Kees; Laing, Richard Ogilvie; Leufkens, Hubert

    2012-01-01

    Objectives: This study aims to examine the impact of external price referencing (EPR) on on-patent medicine prices, adjusting for other factors that may affect price levels such as sales volume, exchange rates, gross domestic product (GDP) per capita, total pharmaceutical expenditure (TPE), and size of the pharmaceutical industry. Methods: Price data of 14 on-patent products, in 14 European countries in 2007 and 2008 were obtained from the Pharmaceutical Price Information Service of the Austrian Health Institute. Based on the unit ex-factory prices in EURO, scaled ranks per country and per product were calculated. For the regression analysis the scaled ranks per country and product were weighted; each country had the same sum of weights but within a country the weights were proportional to its sales volume in the year (data obtained from IMS Health). Taking the scaled ranks, several statistical analyses were performed by using the program “R”, including a multiple regression analysis (including variables such as GDP per capita and national industry size). Results: This study showed that on average EPR as a pricing policy leads to lower prices. However, the large variation in price levels among countries using EPR confirmed that the price level is not only driven by EPR. The unadjusted linear regression model confirms that applying EPR in a country is associated with a lower scaled weighted rank (p=0.002). This interaction persisted after inclusion of total pharmaceutical expenditure per capita and GDP per capita in the final model. Conclusions: The study showed that for patented products, prices are in general lower in case the country applied EPR. Nevertheless substantial price differences among countries that apply EPR could be identified. Possible explanations could be found through a correlation between pharmaceutical industry and the scaled price ranks. In conclusion, we found that implementing external reference pricing could lead to lower prices. PMID

  15. Price Linkage between International Price of Crude Palm Oil (CPO) and Cooking Oil Price in Indonesia

    OpenAIRE

    Rifin, Amzul

    2009-01-01

    Cooking oil in Indonesia is considered to be one of the staple food of Indonesian people. In the beginning of 2008, the price of cooking oil in Indonesia has increased significantly. One of the reasons is the increase of Crude Palm Oil (CPO) price in the international market. The objective of this research is to investigate the impacts of international price of CPO on the domestic price of CPO and cooking oil. Three specific objectives are included (1) To test whether international price of C...

  16. Enhancing medicine price transparency through price information mechanisms.

    Science.gov (United States)

    Hinsch, Michael; Kaddar, Miloud; Schmitt, Sarah

    2014-05-08

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

  17. Grain price spikes and beggar-thy-neighbor policy responses

    DEFF Research Database (Denmark)

    Boysen, Ole; Jensen, Hans Grinsted

    Upward spikes in the international price of food in recent years led some countries to raise export barriers, thereby exacerbating both the price spike and reducing the terms of trade for food-importing countries (beggaring their neighbors). At the same time, and for similar political-economy rea......Upward spikes in the international price of food in recent years led some countries to raise export barriers, thereby exacerbating both the price spike and reducing the terms of trade for food-importing countries (beggaring their neighbors). At the same time, and for similar political......-economy reasons, numerous food-importing countries reduced or suspended their import tariffs, and some even provided food import subsidies -- which also exacerbated the international price spike, thus turning the terms of trade even further against food-importing countries. This issue became a major item...... on the agenda of various international policy fora, including the annual meetings of G20 countries in recent years. For that reason, recent studies have attempted to quantify the extent to which such policy actions contributed to the rise in food prices. A study by Jensen & Anderson (2014) uses the global AGE...

  18. Food price volatility and hunger alleviation – can Cannes work?

    Directory of Open Access Journals (Sweden)

    Hajkowicz Stefan

    2012-06-01

    Full Text Available Abstract Recent years have seen global food prices rise and become more volatile. Price surges in 2008 and 2011 held devastating consequences for hundreds of millions of people and negatively impacted many more. Today one billion people are hungry. The issue is a high priority for many international agencies and national governments. At the Cannes Summit in November 2011, the G20 leaders agreed to implement five objectives aiming to mitigate food price volatility and protect vulnerable persons. To succeed, the global community must now translate these high level policy objectives into practical actions. In this paper, we describe challenges and unresolved dilemmas before the global community in implementing these five objectives. The paper describes recent food price volatility trends and an evaluation of possible causes. Special attention is given to climate change and water scarcity, which have the potential to impact food prices to a much greater extent in coming decades. We conclude the world needs an improved knowledge base and new analytical capabilities, developed in parallel with the implementation of practical policy actions, to manage food price volatility and reduce hunger and malnutrition. This requires major innovations and paradigm shifts by the global community.

  19. Which pricing approach for options under GARCH with non-normal innovations?

    DEFF Research Database (Denmark)

    Simonato, Jean-Guy; Stentoft, Lars

    approaches give rise to very similar pricing errors when implemented with time-varying pricing parameters. However, when implemented with constant pricing parameters, the performance of the no-arbitrage approach deteriorates in periods of high volatility relative to the equilibrium approach whose performance......Two different pricing frameworks are typically used in the literature when pricing options under GARCH with non-normal innovations: the equilibrium approach and the no-arbitrage approach. Each framework can accommodate various forms of GARCH and innovation distributions, but empirical...... implemented in both pricing frameworks. The model uses a parsimonious GARCH specification with skewed and leptokurtic Johnson Su innovations together with either the equilibrium based framework or the no-arbitrage based framework. Using a large sample of options on the S&P 500 index, we find that the two...

  20. 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)

  1. Price setting in turbulent times

    DEFF Research Database (Denmark)

    Ólafsson, Tjörvi; Pétursdóttir, Ásgerdur; Vignisdóttir, Karen Á.

    This price setting survey among Icelandic firms aims to make two contributions to the literature. First, it studies price setting in an advanced economy within a more turbulent macroeconomic environment than has previously been done. The results indicate that price adjustments are to a larger ext...... to spread to sectors less exposed to such changes through the use of price indexation. Exchange rate pass-through, price indexation and backward-looking behaviour in price setting therefore pose challenges for monetary policy in Iceland....... extent driven by exchange rate fluctuations than in most other advanced countries. The median Icelandic firm reviews its prices every four months and changes them every six months. The main sources of price rigidity and the most commonly used price setting methods are the same as in most other countries....... A second contribution to the literature is our analysis of the nexus between price setting and exchange rate movements, a topic that has attracted surprisingly limited attention in this survey-based literature. A novel aspect of our approach is to base our analysis on a categorisation of firms...

  2. Retailer Pricing Strategy and Consumer Choice under Price Uncertainty

    OpenAIRE

    Shai Danziger; Liat Hadar; Morwitz, Vicki G

    2014-01-01

    This research examines how consumers choose retailers when they are uncertain about store prices prior to shopping. Simulating everyday choice, participants made successive retailer choices where on each occasion they chose a retailer and only then learned product prices. The results of a series of studies demonstrated that participants were more likely to choose a retailer that offered an everyday low pricing strategy (EDLP) or that offered frequent small discounts over a retailer that offer...

  3. Priced Timed Automata

    DEFF Research Database (Denmark)

    Behrmann, Gerd; Larsen, Kim Guldstrand; Rasmussen, Jacob Illum

    2004-01-01

    This contribution reports on the considerable effort made recently towards extending and applying well-established timed automata technology to optimal scheduling and planning problems. The effort of the authors in this direction has to a large extent been carried out as part of the European...... projects VHS [22] and AMETIST [17] and are available in the recently released UPPAAL CORA [12], a variant of the real-time verification tool UPPAAL [20,5] specialized for cost-optimal reachability for the extended model of priced timed automata....

  4. Pricing Strategy versus Heterogeneous Shopping Behavior under Market Price Dispersion

    Directory of Open Access Journals (Sweden)

    Francisco Álvarez

    2016-01-01

    Full Text Available We consider the ubiquitous problem of a seller competing in a market of a product with dispersed prices and having limited information about both his competitors’ prices and the shopping behavior of his potential customers. Given the distribution of market prices, the distribution of consumers’ shopping behavior, and the seller’s cost as inputs, we find the computational solution for the pricing strategy that maximizes his expected profits. We analyze the seller’s solution with respect to different exogenous perturbations of parametric and functional inputs. For that purpose, we produce synthetic price data using the family of Generalized Error Distributions that includes normal and quasiuniform distributions as particular cases, and we also generate consumers’ shopping data from different behavioral assumptions. Our analysis shows that, beyond price mean and dispersion, the shape of the price distribution plays a significant role in the seller’s pricing solution. We focus on the seller’s response to an increasing diversity in consumers’ shopping behavior. We show that increasing heterogeneity in the shopping distribution typically lowers seller’s prices and expected profits.

  5. Palm oil price forecasting model: An autoregressive distributed lag (ARDL) approach

    Science.gov (United States)

    Hamid, Mohd Fahmi Abdul; Shabri, Ani

    2017-05-01

    Palm oil price fluctuated without any clear trend or cyclical pattern in the last few decades. The instability of food commodities price causes it to change rapidly over time. This paper attempts to develop Autoregressive Distributed Lag (ARDL) model in modeling and forecasting the price of palm oil. In order to use ARDL as a forecasting model, this paper modifies the data structure where we only consider lagged explanatory variables to explain the variation in palm oil price. We then compare the performance of this ARDL model with a benchmark model namely ARIMA in term of their comparative forecasting accuracy. This paper also utilize ARDL bound testing approach to co-integration in examining the short run and long run relationship between palm oil price and its determinant; production, stock, and price of soybean as the substitute of palm oil and price of crude oil. The comparative forecasting accuracy suggests that ARDL model has a better forecasting accuracy compared to ARIMA.

  6. Updating Maryland's sea-level rise projections

    Science.gov (United States)

    Boesch, Donald F.; Atkinson, Larry P.; Boicourt, William C.; Boon, John D.; Cahoon, Donald R.; Dalrymple, Robert A.; Ezer, Tal; Horton, Benjamin P.; Johnson, Zoe P.; Kopp, Robert E.; Li, Ming; Moss, Richard H.; Parris, Adam; Sommerfield, Christopher K.

    2013-01-01

    With its 3,100 miles of tidal shoreline and low-lying rural and urban lands, “The Free State” is one of the most vulnerable to sea-level rise. Historically, Marylanders have long had to contend with rising water levels along its Chesapeake Bay and Atlantic Ocean and coastal bay shores. Shorelines eroded and low-relief lands and islands, some previously inhabited, were inundated. Prior to the 20th century, this was largely due to the slow sinking of the land since Earth’s crust is still adjusting to the melting of large masses of ice following the last glacial period. Over the 20th century, however, the rate of rise of the average level of tidal waters with respect to land, or relative sea-level rise, has increased, at least partially as a result of global warming. Moreover, the scientific evidence is compelling that Earth’s climate will continue to warm and its oceans will rise even more rapidly. Recognizing the scientific consensus around global climate change, the contribution of human activities to it, and the vulnerability of Maryland’s people, property, public investments, and natural resources, Governor Martin O’Malley established the Maryland Commission on Climate Change on April 20, 2007. The Commission produced a Plan of Action that included a comprehensive climate change impact assessment, a greenhouse gas reduction strategy, and strategies for reducing Maryland’s vulnerability to climate change. The Plan has led to landmark legislation to reduce the state’s greenhouse gas emissions and a variety of state policies designed to reduce energy consumption and promote adaptation to climate change.

  7. Freely rising light solid spheres

    NARCIS (Netherlands)

    Veldhuis, Christian; Biesheuvel, A.; Lohse, Detlef

    2009-01-01

    This paper examines the behavior of spheres rising freely in a Newtonian fluid when the ratio between the density of the spheres and that of the surrounding fluid is about 0.02. High-speed imaging is used to reconstruct three-dimensional trajectories of the rising spheres. From the analysis of the

  8. A Multiperiod Equilibrium Pricing Model

    Directory of Open Access Journals (Sweden)

    Minsuk Kwak

    2014-01-01

    Full Text Available We propose an equilibrium pricing model in a dynamic multiperiod stochastic framework with uncertain income. There are one tradable risky asset (stock/commodity, one nontradable underlying (temperature, and also a contingent claim (weather derivative written on the tradable risky asset and the nontradable underlying in the market. The price of the contingent claim is priced in equilibrium by optimal strategies of representative agent and market clearing condition. The risk preferences are of exponential type with a stochastic coefficient of risk aversion. Both subgame perfect strategy and naive strategy are considered and the corresponding equilibrium prices are derived. From the numerical result we examine how the equilibrium prices vary in response to changes in model parameters and highlight the importance of our equilibrium pricing principle.

  9. Has competition lowered hospital prices?

    Science.gov (United States)

    Zwanziger, Jack; Mooney, Cathleen

    2005-01-01

    On Jan. 1, 1997, New York ended its regulation of hospital prices with the intent of using competitive markets to control prices and increase efficiency. This paper uses data that come from annual reports filed by all health maintenance organizations (HMOs) operating in New York and include payments to and usage in the major hospitals in an HMO's network. We estimate the relationship between implied prices and hospital, plan, and market characteristics. The models show that after 1997, hospitals in more competitive markets paid less. Partially offsetting these price reductions were price increases associated with hospital mergers that reduced the competitiveness of the local market. Hospital deregulation was successful, at least in the short run, in using price competition to reduce hospital payments; it is unclear whether this success will be undermined by the structural changes taking place in the hospital industry.

  10. TOURISM MARKET: PRICING ISSUES

    Directory of Open Access Journals (Sweden)

    Irina A. Kiseleva

    2016-01-01

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

  11. Pricing hazardous substance emissions

    Energy Technology Data Exchange (ETDEWEB)

    Staring, Knut; Vennemo, Haakon

    1997-12-31

    This report discusses pricing of emissions to air of several harmful substances. It combines ranking indices for environmentally harmful substances with economic valuation data to yield price estimates. The ranking methods are discussed and a relative index established. Given the relative ranking of the substances, they all become valued by assigning a value to one of them, the `anchor` substance, for which lead is selected. Valuations are provided for 19 hazardous substances that are often subject to environmental regulations. They include dioxins, TBT, etc. The study concludes with a discussion of other categories of substances as well as uncertainties and possible refinements. When the valuations are related to CO, NOx, SOx and PM 10, the index system undervalues these pollutants as compared to other studies. The scope is limited to the outdoor environment and does not include global warming and eutrophication. The indices are based on toxicity and so do not apply to CO{sub 2} or other substances that are biologically harmless. The index values are not necessarily valid for all countries and should be considered as preliminary. 18 refs., 6 tabs.

  12. Determinants of Tanzanian Export Prices

    OpenAIRE

    Rollo Valentina.

    2012-01-01

    This paper uses firm level data to study the pricing behavior of Tanzanian exporters. The important question of how exporting firms make pricing decisions has not received significant attention in the trade literature which is more focused on factors that determine export flows. The results of the paper show that the free on board price of Tanzanian exports is differentiated both across exporters—within product destination pairs—and across markets—within firm product pairs. Moreover contrasti...

  13. Stock prices and business investment

    OpenAIRE

    Yaron Leitner

    2007-01-01

    Is there a link between the stock market and business investment? Empirical evidence indicates that there is. A firm tends to invest more when its stock price increases, and it tends to invest less when the price falls. In “Stock Prices and Business Investment,” Yaron Leitner discusses existing research that explains this relationship. One question under consideration is whether the stock market actually improves investment decisions.

  14. How hospitals approach price transparency.

    Science.gov (United States)

    Houk, Scott; Cleverley, James O

    2014-09-01

    A survey of finance leaders found that hospitals with lower charges were more likely than other hospitals to emphasize making prices defensible rather than simply transparent. Finance leaders of hospitals with higher charges were more likely to express concern that price transparency would cause a reduction in hospital revenue by forcing them to lower charges. Those respondents said commercial payers likely will have to agree to renegotiate contracts for price transparency to be a financially viable proposition.

  15. Countervailing Power and Price Transparency

    OpenAIRE

    Møllgaard, Peter; Hviid, Morten

    2000-01-01

    We investigate whether increased transparency about prices may increase the countervailing power exercised by buyers of an intermediate good and whether this will lead to a decrease of intermediate goods prices. We show that, even in a non-cooperative, one-shot model, the most likely outcome of improved transparency is a price increase: Improved transparency will lead sellers to take tougher bargaining stands since more is at stake. The results are related to the experience of the Danish Comp...

  16. Regional Hospital Input Price Indexes

    OpenAIRE

    Freeland, Mark S.; Schendler, Carol Ellen; Anderson, Gerard

    1981-01-01

    This paper describes the development of regional hospital input price indexes that is consistent with the general methodology used for the National Hospital Input Price Index. The feasibility of developing regional indexes was investigated because individuals inquired whether different regions experienced different rates of increase in hospital input prices. The regional indexes incorporate variations in cost-share weights (the amount an expense category contributes to total spending) associa...

  17. Nonlinear Pricing to Produce Information

    OpenAIRE

    David J. Braden; Oren, Shmuel S.

    1994-01-01

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

  18. International Prices and Exchange Rates

    OpenAIRE

    Gopinath, Gita; Burstein, Ariel

    2013-01-01

    We survey the recent empirical and theoretical developments in the literature on the relation between prices and exchange rates. After updating some of the major findings in the empirical literature we present a simple framework to interpret this evidence. We review theoretical models that generate insensitivity of prices to exchange rate changes through variable markups, both under flexible prices and nominal rigidities, first in partial equilibrium and then in general equilibrium.

  19. Essays in Empirical Asset Pricing

    DEFF Research Database (Denmark)

    Rzeznik, Aleksandra

    This thesis consists of three essays investigating financial and real estate markets and identifying a relationship between them. A 2008 financial crises provides a perfect example of sizeable interactions between US housing market and equity prices, where a negative shock to house prices triggered...... a word-wide recession. Therefore, understanding forces driving investors behaviour and preferences, which in turn affect asset prices in both equity and housing market are of great interest....

  20. Price transparency for medical devices.

    Science.gov (United States)

    Pauly, Mark V; Burns, Lawton R

    2008-01-01

    Hospital buyers of medical devices contract with manufacturers with market power that sell differentiated products. The medical staff strongly influences hospitals' choice of devices. Sellers have sought to limit disclosure of transaction prices. Policy-makers have proposed legislation mandating disclosure, in the interest of greater transparency. We discuss why a manufacturer might charge different prices to different hospitals, the role that secrecy plays, and the consequences of secrecy versus disclosure. We argue that hospital-physician relationships are key to understanding what manufacturers gain from price discrimination. Price disclosure can catalyze a restructuring of those relationships, which, in turn, can improve hospital bargaining.

  1. Transmission pricing: paradigms and methodologies

    Energy Technology Data Exchange (ETDEWEB)

    Shirmohammadi, Dariush [Pacific Gas and Electric Co., San Francisco, CA (United States); Vieira Filho, Xisto; Gorenstin, Boris [Centro de Pesquisas de Energia Eletrica (CEPEL), Rio de Janeiro, RJ (Brazil); Pereira, Mario V.P. [Power System Research, Rio de Janeiro, RJ (Brazil)

    1994-12-31

    In this paper we describe the principles of several paradigms and methodologies for pricing transmission services. The paper outlines some of the main characteristics of these paradigms and methodologies such as where they may be used for best results. Due to their popularity, power flow based MW-mile and short run marginal cost pricing methodologies will be covered in some detail. We conclude the paper with examples of the application of these two pricing methodologies for pricing transmission services in Brazil. (author) 25 refs., 2 tabs.

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

    Science.gov (United States)

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

    2011-12-01

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

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

    NARCIS (Netherlands)

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

    2010-01-01

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

  4. Can you refuse these discounts? An evaluation of the use and price discount impact of price-related promotions among US adult smokers by cigarette manufacturers.

    Science.gov (United States)

    Caraballo, Ralph S; Wang, Xu; Xu, Xin

    2014-06-04

    The raising unit price of cigarette has been shown to be one of the most effective ways of reducing cigarette consumption and increasing rates of successful quitting. However, researchers have shown that price-sensitive smokers have used a variety of strategies to mitigate the effect of the rising price of cigarettes on their smoking habits. In particular, 23-34% of adult smokers in the US use cheaper brands, and 18-55% use coupons or promotions. Little is known about the discount use by type of brands. As such, the main purpose of this analysis is to evaluate the uses and price discount effects of these price-related discounts by manufacturers and major brands. An analysis based on the cross-sectional 2009-2010 National Adult Tobacco Survey (NATS). 11 766 current smokers aged 18 or above in the USA. Price-related discount was defined as smokers who used coupons, rebates, buy-one-get-one-free, two-for-one or any other special promotions for their last cigarettes purchase. The use of price-related discounts and associated price impact vary widely by cigarette manufacturer and brand. Approximately one of three Camel, one of four Marlboro and one of eight Newport smokers used price-related discounts on their latest cigarette purchases. The average price reductions of discounts offered by Philip Morris (PM) or R.J. Reynolds (RJR) were around 29 cents per pack while that of Lorillard (Newport only) was 24 cents per pack. Cigarette brands that provided significant per pack price reductions include: PM Marlboro (28 cents), RJR brand Camel (41 cents), Doral (50 cents), Kool (73 cents) and Salem (80 cents), and Lorillard Newport (24 cents). Policies that decrease price-minimisation strategies will benefit public health. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://group.bmj.com/group/rights-licensing/permissions.

  5. Coastal flooding by tropical cyclones and sea-level rise.

    Science.gov (United States)

    Woodruff, Jonathan D; Irish, Jennifer L; Camargo, Suzana J

    2013-12-05

    The future impacts of climate change on landfalling tropical cyclones are unclear. Regardless of this uncertainty, flooding by tropical cyclones will increase as a result of accelerated sea-level rise. Under similar rates of rapid sea-level rise during the early Holocene epoch most low-lying sedimentary coastlines were generally much less resilient to storm impacts. Society must learn to live with a rapidly evolving shoreline that is increasingly prone to flooding from tropical cyclones. These impacts can be mitigated partly with adaptive strategies, which include careful stewardship of sediments and reductions in human-induced land subsidence.

  6. Considerations regarding price in oligopolistic structured markets

    Directory of Open Access Journals (Sweden)

    Ciobanu, R.

    2011-01-01

    Full Text Available Economists report price rigidity in markets with oligopolistic structures, while explaining the phenomenon. If an oligopolistic firm raises prices, other prices will remain stable in oligopolistic firms, so we will see a significant decrease in sales volume in the firm which increased prices. To avoid this situation an oligopolistic company will not initiate price increases. If oligopolistic firms lower prices, other oligopolistic firms will reduce prices promptly and the result will be that of lower volume of sales - will sell the same physical volume of goods but at a lower price. To avoid this situation, the company will not initiate oligopolistic price decreases.

  7. Prices and species diversity

    DEFF Research Database (Denmark)

    Sauer, Johannes

    . Based on a biologically defined species diver-sity index we incorporate biodiversity either as a desirable output or biodiversity loss as a detrimental input. Beside quantitative shadow price measures the main contribu-tion of the work is the evidence that parametric scores of environmental efficiency...... of biodiversity and the appropriate incorporation in stochastic fron-tier models to achieve more realistic measures of production efficiency. We use the empirical example of tobacco production drawing from as well as affecting species diversity in the surrounding forests. We apply a shadow profit distance...... function ap-proach as well as a fixed effects non-radial technique to reveal input specific alloca-tive and output oriented technical efficiency measures as well as measures of envi-ronmental efficiency. We also consider functional consistency by imposing convexity on the translog profit function model...

  8. Transfer Pricing and FDI

    Directory of Open Access Journals (Sweden)

    Patricia-Sabina Macelaru

    2013-08-01

    Full Text Available FDI analysis is usually performed within the frame of the win-win hypothesis. However, we believe that certain circumstances (MNEs following their own business objectives, lack of appropriate regulations, non-observance of the arm’s length principle may generate disproportionate advantages at the level of FDI stakeholders. The disequilibrium between reinvested profits and repatriated profits may be viewed as a proof of such disproportionate advantages of stakeholders involved in FDI. In addition to figures showing the comparison between reinvested and repatriated profits, as well as the way in which such indicators vary e.g. in case of abnormal business conditions (global economy collapse, we try to show that lack/misuse of transfer pricing regulations may generate even more disequilibrium, the MNEs using intra-group transactions as an additional way of repatriating non-taxable/low tax profits.

  9. Prices versus Quantities

    DEFF Research Database (Denmark)

    Hansen, Lars Gårn; Jensen, Frank

    Weitzman (2002) studies the regulation of a fishery characterised by constant marginal harvest costs and shows that price regulation performs better than quantity regulation when the regulator is uncertain about the biological reproduction function (ecological uncertainty). Here, we initially...... illustrate that this result does not generalise to a search fishery, where marginal costs are allowed to depend on harvest. Hansen et al (2008) study a fishery where non-compliance with regulations is a problem. When the regulator is uncertain about non-compliance (compliance uncertainty), then landing fees...... are the preferred type of regulation, and Hansen et al (2008) find that this result does generalise to a search fishery where marginal costs depend on harvest. In this paper, we simulate a stochastic stock-recruitment model for the Danish cod fishery in the Kategat capturing both ecological and compliance...

  10. Is College Pricing Power Pro-Cyclical?

    Science.gov (United States)

    Altringer, Levi; Summers, Jeffrey

    2015-01-01

    We define pricing power as a college's ability to increase its net tuition revenue by raising its sticker-price for tuition. The greater is the positive effect of sticker-price increases on net tuition revenue, the greater is the pricing power. We gauge variation in the pricing power of private, non-profit baccalaureate colleges by estimating this…

  11. Ethanol, Corn, and Soybean Price Relations in a Volatile Vehicle-Fuels Market

    Directory of Open Access Journals (Sweden)

    Cesar Escalante

    2009-06-01

    Full Text Available The rapid upward shift in ethanol demand has raised concerns about ethanol’s impact on the price level and volatility of agricultural commodities. The popular press attributes much of this volatility in commodity prices to a price bubble in ethanol fuel and recent deflation. Market economics predicts not only a softening of demand to high commodity prices but also a positive supply response. This volatility in ethanol and commodity prices are investigated using cointegration, vector error corrections (VECM, and multivariate generalized autoregressive conditional heteroskedascity (MGARCH models. In terms of derived demand theory, results support ethanol and oil demands as derived demands from vehicle-fuel production. Gasoline prices directly influence the prices of ethanol and oil. However, of greater significance for the fuel versus food security issue, results support the effect of agricultural commodity prices as market signals which restore commodity markets to their equilibriums after a demand or supply event (shock. Such shocks may in the short-run increase agricultural commodity prices, but decentralized freely operating markets will mitigate the persistence of these shocks. Results indicate in recent years there are no long-run relations among fuel (ethanol, oil and gasoline prices and agricultural commodity (corn and soybean prices.

  12. Is macroeconomic announcement news priced?

    NARCIS (Netherlands)

    de Goeij, Peter; Hu, Jiehui; Werker, Bas

    2016-01-01

    We test whether news contained in macroeconomic announcements (MEAs) is priced in the cross-section of stock returns. When including news on a set of widely followed individual macroeconomic fundamentals in the cross-section of stock returns, estimates of their prices of risk are consistent with the

  13. Price satisfaction and producer loyalty

    DEFF Research Database (Denmark)

    Mutonyi, Sarah; Beukel, Karin; Gyau, Amos

    2016-01-01

    Purpose The purpose of this paper is to investigate which dimensions of price satisfaction influence producers’ trust in buyers and assess the mediating role of such trust in the relationship between price satisfaction and producer loyalty in fresh fruit supply chains. Design/methodology/approach...

  14. Algorithms for optimal price regulations

    NARCIS (Netherlands)

    Grigoriev, Alexander; van Loon, Joyce; Uetz, Marc Jochen; Papadimitriou, C.; Zhang, S.

    2008-01-01

    Since summer 2007, mobile phone users in the European Union (EU) are protected by a ceiling on the roaming tariff when calling or receiving a call abroad. We analyze the effects of this price regulative policy, and compare it to alternative implementations of price regulations. The problem is a

  15. Strammere retningslinjer om transfer pricing

    DEFF Research Database (Denmark)

    Rossing, Christian Plesner

    2015-01-01

    Transfer pricing vedrører prisfastsættelsen på transaktioner, der foregår mellem koncernforbundne selskaber og er fortsat et tema, der nyder stort fokus hos både multinationale koncerner og skattemyndigheder. For den multinationale koncern er transfer pricing i høj grad en aktivitet, der består i...

  16. Pricing strategies for information goods

    Indian Academy of Sciences (India)

    R. Narasimhan (Krishtel eMaging) 1461 1996 Oct 15 13:05:22

    ual consumers – in North America alone, direct marketing was a $200 billion business in. 2001 ... direct marketing techniques have always been imprecise, with a conversion rate of less than. 2% largely due to the use .... lower profits from pricing at a level that will ensure that the sale takes place, and prices at half the upper ...

  17. 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.

  18. Oil price and the dollar

    Energy Technology Data Exchange (ETDEWEB)

    Coudert, V. [Banque de France, Paris (France); Mignon, V. [Paris Univ., Paris (France). Economix-CNRS; Penot, A. [Lyon Univ., Lyon (France). CNRS

    2007-10-01

    Oil prices and the United States (US) dollar exchange rate are driving the evolution of the world economy. This paper investigated long-term relationships between oil prices and the US effective exchange rate. An empirical study was performed on oil prices and the dollar real effective exchange rate between 1974 to 2004. The impact of the dollar exchange rate was also explored, and the effects of oil prices on supply and demand were considered. A dynamic partial equilibrium framework study was evaluated in order to compare how other countries used revenues from oil exports in dollars. The study showed that both variables had similar evolutions when price fluctuations were low. Strong increases in the dollar were associated with lower oil prices. However, adjustment speeds of the dollar real effective exchange rate was slow. Co-integration and causality tests showed that oil prices influenced the exchange rate, and that the link between the 2 variables was transmitted through the country's net foreign asset position. It was concluded that higher oil prices improved US net foreign asset position in relation to other countries, and had a positive impact on dollar appreciation. 24 refs., 6 tabs., 1 fig.

  19. Ethnic diversity deflates price bubbles

    Science.gov (United States)

    Levine, Sheen S.; Apfelbaum, Evan P.; Bernard, Mark; Bartelt, Valerie L.; Zajac, Edward J.; Stark, David

    2014-01-01

    Markets are central to modern society, so their failures can be devastating. Here, we examine a prominent failure: price bubbles. Bubbles emerge when traders err collectively in pricing, causing misfit between market prices and the true values of assets. The causes of such collective errors remain elusive. We propose that bubbles are affected by ethnic homogeneity in the market and can be thwarted by diversity. In homogenous markets, traders place undue confidence in the decisions of others. Less likely to scrutinize others’ decisions, traders are more likely to accept prices that deviate from true values. To test this, we constructed experimental markets in Southeast Asia and North America, where participants traded stocks to earn money. We randomly assigned participants to ethnically homogeneous or diverse markets. We find a marked difference: Across markets and locations, market prices fit true values 58% better in diverse markets. The effect is similar across sites, despite sizeable differences in culture and ethnic composition. Specifically, in homogenous markets, overpricing is higher as traders are more likely to accept speculative prices. Their pricing errors are more correlated than in diverse markets. In addition, when bubbles burst, homogenous markets crash more severely. The findings suggest that price bubbles arise not only from individual errors or financial conditions, but also from the social context of decision making. The evidence may inform public discussion on ethnic diversity: it may be beneficial not only for providing variety in perspectives and skills, but also because diversity facilitates friction that enhances deliberation and upends conformity. PMID:25404313

  20. Price knowledge during grocery shopping

    DEFF Research Database (Denmark)

    Jensen, Birger Boutrup; Grunert, Klaus G

    2014-01-01

    accessible at the store exit. These findings enable the authors to reconcile diverging results from past research,showing how consumer price knowledge evolves and suggesting that the vast majority of consumers learn about prices, whether consciously orunconsciously, during grocery shopping. Thus, when...

  1. Carbon pricing in the EU

    NARCIS (Netherlands)

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

    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

  2. Price as indicator for quality?

    DEFF Research Database (Denmark)

    Nielsen, Jørgen Ulff-Møller; Hansen, Jørgen Drud

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

  3. Understanding international commodity price fluctuations

    NARCIS (Netherlands)

    Arezki, Rabah; Loungani, Prakash; van der Ploeg, Rick; Venables, Anthony J.

    An overview is provided of recent work on commodity prices, focusing on three themes: (i) "financialization" of commodity markets--commodities being considered by financial investors as a distinct asset class, (ii) trends and forecasts of commodity prices, and (iii) fracking-a shorthand for the

  4. Ethnic diversity deflates price bubbles.

    Science.gov (United States)

    Levine, Sheen S; Apfelbaum, Evan P; Bernard, Mark; Bartelt, Valerie L; Zajac, Edward J; Stark, David

    2014-12-30

    Markets are central to modern society, so their failures can be devastating. Here, we examine a prominent failure: price bubbles. Bubbles emerge when traders err collectively in pricing, causing misfit between market prices and the true values of assets. The causes of such collective errors remain elusive. We propose that bubbles are affected by ethnic homogeneity in the market and can be thwarted by diversity. In homogenous markets, traders place undue confidence in the decisions of others. Less likely to scrutinize others' decisions, traders are more likely to accept prices that deviate from true values. To test this, we constructed experimental markets in Southeast Asia and North America, where participants traded stocks to earn money. We randomly assigned participants to ethnically homogeneous or diverse markets. We find a marked difference: Across markets and locations, market prices fit true values 58% better in diverse markets. The effect is similar across sites, despite sizeable differences in culture and ethnic composition. Specifically, in homogenous markets, overpricing is higher as traders are more likely to accept speculative prices. Their pricing errors are more correlated than in diverse markets. In addition, when bubbles burst, homogenous markets crash more severely. The findings suggest that price bubbles arise not only from individual errors or financial conditions, but also from the social context of decision making. The evidence may inform public discussion on ethnic diversity: it may be beneficial not only for providing variety in perspectives and skills, but also because diversity facilitates friction that enhances deliberation and upends conformity.

  5. Surface Tension and Capillary Rise

    Science.gov (United States)

    Walton, Alan J.

    1972-01-01

    Discussion of the shortcomings of textbook explanations of surface tension, distinguishing between concepts of tension and capillary rise. The arguments require only a clear understanding of Newtonian mechanics, notably potential energy. (DF)

  6. Growing bubbles rising in line

    Directory of Open Access Journals (Sweden)

    John F. Harper

    2001-01-01

    Full Text Available Over many years the author and others have given theories for bubbles rising in line in a liquid. Theory has usually suggested that the bubbles will tend towards a stable distance apart, but experiments have often showed them pairing off and sometimes coalescing. However, existing theory seems not to deal adequately with the case of bubbles growing as they rise, which they do if the liquid is boiling, or is a supersaturated solution of a gas, or simply because the pressure decreases with height. That omission is now addressed, for spherical bubbles rising at high Reynolds numbers. As the flow is then nearly irrotational, Lagrange's equations can be used with Rayleigh's dissipation function. The theory also works for bubbles shrinking as they rise because they dissolve.

  7. Sticky prices and deviations from the Law of One Price: Evidence from Mexican micro-price data

    National Research Council Canada - National Science Library

    Elberg, AndreS

    2016-01-01

    This paper uses a novel dataset of weekly sampled store-level prices to study the impact of sticky prices on the volatility and persistence of intranational deviations from the Law of One Price (LOP...

  8. European attitudes to water pricing

    DEFF Research Database (Denmark)

    Jensen, Anne Kejser

    2016-01-01

    as is affordability concern, which may be explained by expectations of inequity measures to come in place in parallel with increasing water prices. Overall these results support the hypothesis that lack of information and affordability concern could lead to resistance towards efficient water pricing among the general......Efficient use of the water resource requires internalization of all costs in the price of water, including environmental and resource costs. However, water resource management tends to be highly political and increasing water prices are a sensitive and complicated policy matter. Hence......, there is a need for increased understanding of the implementation process and the attitudes towards implementation among the general public. This paper explores the spatial heterogeneity in the public attitude towards internalizing environmental and resource costs in the price of water across the EU regions...

  9. Pricing of temperature index insurance

    Directory of Open Access Journals (Sweden)

    Che Mohd Imran Che Taib

    2012-01-01

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

  10. PRICES - PREREQUISITE OF MARKET DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    VĂDUVA MARIA

    2017-08-01

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

  11. Poverty, Policy and Price Transmission

    DEFF Research Database (Denmark)

    Elleby, Christian

    of the real food price process based on which dynamic forecasts and historical decompositions are calculated. Results indicate that, despite the low degree of pass-through from international to domestic rice prices, food prices in general grew as fast as expected or faster, given the surge......This thesis consists of four self-contained chapters in which different aspects of the relationship between international commodity markets and domestic food markets are explored. What motivates the analysis is the recent surge in international commodity prices and the controversy over the poverty...... impact of the 2007-8 ‘food crisis’, in particular. The first paper analyses, in a stylized economic model, how the response of domestic aggregate food prices to an international shock depends on features of the country’s income distribution. The model is based on a dichotomy between traded and purely...

  12. Food prices and obesity: a review.

    Science.gov (United States)

    Finkelstein, Eric A; Strombotne, Kiersten L; Zhen, Chen; Epstein, Leonard H

    2014-11-01

    In response to rising rates of obesity in the United States due in part to excess food consumption, researchers and policy makers have argued that levying food taxes on obesity-promoting foods, perhaps combined with subsidies on healthier options, would be an effective tool to stem the obesity epidemic. The extent to which overall energy intake or weight outcomes will improve as a result of these policies is ultimately an empirical question. This review examines the link between food or beverage price changes and energy intake or weight outcomes among U.S. consumers. Current evidence indicates that, by themselves, targeted food taxes and subsidies as considered to date are unlikely to have a major effect on individual weight or obesity prevalence. While research suggests that the effects are modest, food taxes and subsidies may play an important role in a multifaceted approach to reducing obesity incidence. © 2014 American Society for Nutrition.

  13. How Pakistan is coping with the Challenge of High Oil Prices

    OpenAIRE

    Malik, Afia

    2008-01-01

    The paper is a review of possible consequences and challenges presented by high oil prices in Pakistan. Pakistan is heavily dependent on imported fuels and this dependence is expected to increase even further in future given the depleting gas resources. The rising oil prices in the international market has had effected negatively balance of payment position as well as on the budgetary position of the country and contributed in creating inflationary pressures in the economy. For long run devel...

  14. Locational Pricing to Mitigate Voltage Problems Caused by High PV Penetration

    OpenAIRE

    Sam Weckx; Reinhilde D'hulst; Johan Driesen

    2015-01-01

    In this paper, a locational marginal pricing algorithm is proposed to control the voltage in unbalanced distribution grids. The increasing amount of photovoltaic (PV) generation installed in the grid may cause the voltage to rise to unacceptable levels during periods of low consumption. With locational prices, the distribution system operator can steer the reactive power consumption and active power curtailment of PV panels to guarantee a safe network operation. Flexible loads also respond to...

  15. Real inflation of journal prices: medical journals, U.S. journals, and Brandon list journals.

    Science.gov (United States)

    Kronenfeld, M R; Gable, S H

    1983-01-01

    Increases in price during the last twenty years were studied for the journals listed in the 1983 Brandon list, and during the last fifteen years for all medical journals and for U.S. periodicals overall. When compared with increases in the Consumer Price Index (CPI), prices in all three categories of publications have increased much more rapidly than have prices overall. Libraries whose journal-acquisition budgets increased merely at the same rate as the CPI during the periods examined today can purchase only 50% to 70% of the journals they purchased in 1963. This information should help librarians justify budget increases. PMID:6652296

  16. The effect of alcohol price on dependent drinkers' alcohol consumption.

    Science.gov (United States)

    Falkner, Carolyn; Christie, Grant; Zhou, Lifeng; King, Julian

    2015-12-18

    To investigate the current purchasing behaviours of a group of dependent drinkers and their potential response to future increases in the price of alcohol. 115 clients undergoing medical detoxification completed an anonymous survey about their daily alcohol consumption, its cost, their response to potential price increases and strategies previously used when unable to afford alcohol. Mean and median number of standard drinks consumed per day was 24, at a median cost of $25 NZD (95%CI $22, $30). Thirty-six per cent (95%CI 26%, 46%) of the group bought alcohol at $1 or less per standard drink, and the median number of drinks consumed per day (30) by this group was significantly higher (p=0.0028) than the rest of the sample (22.5). The most common strategy used if no money was available to purchase alcohol was to forgo essentials. If facing a potential price rise, 77% (95%CI 69%, 85%) would switch wholly or partially to a cheaper product and 13% (95%CI 8%, 21%) would cut down their drinking. Although the majority of our group would be financially impacted by an increase in the minimum price per standard drink, any potential impacts would be most significant in those buying the cheapest alcohol (who also drink the most), suggesting that minimum pricing may be an important harm minimisation strategy in this group. A minimum price per standard drink would limit the possibility of switching to an alternate cheaper product and likely result in an overall reduction in alcohol consumption in this group. Stealing alcohol, or the use of non-beverage alcohol, were seldom reported as previous strategies used in response to unaffordable alcohol and fears of such are not valid reasons for rejecting minimum pricing to reduce general population consumption.

  17. 48 CFR 36.207 - Pricing fixed-price construction contracts.

    Science.gov (United States)

    2010-10-01

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

  18. Minimum prices in a model with search frictions and price posting

    NARCIS (Netherlands)

    Cai, X.

    2015-01-01

    In this paper I consider the effects of a minimum price (maximum wage) in a random search model with price (wage) posting. I show that with a minimum price, the price distribution will have a mass point. If the minimum price is sufficiently high, the price distribution will become degenerate.

  19. Lead and the London Metal Exchange — a happy marriage? The outlook for prices and pricing issues confronting the lead industry

    Science.gov (United States)

    Keen, A.

    The outlook for the supply-demand balance for refined lead is addressed and takes into account the growing non-fundamental forces on price determination. The market for refined lead is presently experiencing its first year of surplus since the major crisis of the early 1990s. Earlier in the decade, the dissolution of the Soviet Union and recession in developed economies led to a significant rise in London Metal Exchange (LME) stocks. An acceleration absorbed these stocks in an 18-month period in the mid-1990s, and LME lead prices reacted to the market deficit by peaking above US900. Since then the market has balanced, yet prices have declined steadily to less that 50% of their peak levels. It is argued that, on fundamental grounds, prices have fallen below justified levels. As much of the reason for this depression between 1997 and 1999 has been the generally depressive effect of the Asian economic crisis on financial markets, the level of lead prices may now be due for a correction. Other metals have begun to increase during the first half of 1999 and lead, given its neutral fundamental outlook, is now poised to participate in the generally more buoyant moods across LME metals. An increase of approximately 10% in average LME 3-month settlement prices is forecast and will result in annual average prices of US 570/tonne over the course of 1999. Monthly averages and spot prices are predicted to exceed this level, particularly during peak third-quarter demand.

  20. Dynamic pricing for demand response considering market price uncertainty

    DEFF Research Database (Denmark)

    Ghazvini, Mohammad Ali Fotouhi; Soares, Joao; Morais, Hugo

    2017-01-01

    Retail energy providers (REPs) can employ different strategies such as offering demand response (DR) programs, participating in bilateral contracts, and employing self-generation distributed generation (DG) units to avoid financial losses in the volatile electricity markets. In this paper......, the problem of setting dynamic retail sales price by a REP is addressed with a robust optimization technique. In the proposed model, the REP offers price-based DR programs while it faces uncertainties in the wholesale market price. The main contribution of this paper is using a robust optimization approach...

  1. 7 CFR 1000.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    .... block cheese reported by the Department for the month; and (ii) The U.S. average NASS survey price for 500-pound barrel cheddar cheese (38 percent moisture) reported by the Department for the month plus 3... one-hundredth cent, shall be the U.S. average NASS dry whey survey price reported by the Department...

  2. The pricing of bank debt guarantees

    NARCIS (Netherlands)

    Arping, S.

    2010-01-01

    We analyze the desirability of fair pricing of government guarantees for bank liabilities. Fair pricing is desirable only if the banking sector is sufficiently transparent. In opaque banking systems, fair pricing may exacerbate banks' incentive to take excessive risks.

  3. The Price of Divorce

    Science.gov (United States)

    Raynish, Annie

    2007-01-01

    The purpose of this study was to investigate the effect of divorce on student's academic achievement. Whitehead (1997) states, at the beginning of the twentieth century, there were only three divorces for every 1,000 marriages. Through the years, the divorce rate in America has rapidly increased which has affected adults and children. The…

  4. 'Energy challenges multiply rapidly' and 'The Book of Numbers'

    Energy Technology Data Exchange (ETDEWEB)

    Forbes, A.; Cragg, C.

    2008-07-15

    In two articles attention is paid to statistical data on energy, focusing on the BP Statistical Review of World Energy. From the first article it appears that a number of worrying themes emerge from detailed energy data for 2007 published by BP and Cedigaz. With energy demand rising inexorably and supply struggling to keep up, prices are probably to remain high and volatile, We are not running short of hydrocarbons yet, but bringing reserves to market is becoming increasingly difficult. And carbon emissions continue to rise rapidly. The second article focuses on the annually published BP Statistical Review of World Energy. The Review has now been published for over 50 years and remains by far the most accessible source of global energy statistics available. Looking back to the earliest editions not only reveals the astonishing, almost exponential, increase in the world's energy demand, but also how the preoccupations of the oil industry have changed down the years.

  5. Price Sensitivity of Demand for Prescription Drugs

    DEFF Research Database (Denmark)

    Simonsen, Marianne; Skipper, Lars; Skipper, Niels

    2016-01-01

    We investigate price sensitivity of demand for prescription drugs, using drug purchase records for the entire Danish population. We identify price responsiveness by exploiting variation in prices caused by kinked reimbursement schemes and implement a regression kink design. The results suggest some...... price responsiveness with corresponding price elasticities ranging from −0.2 to −0.7. Individuals with chronic disease and especially individuals above the age of 65 respond less to the price of drugs....

  6. Water Demand Under Alternative Price Structures

    OpenAIRE

    Sheila Olmstead; W. Michael Hanemann; Stavins, Robert N.

    2007-01-01

    We estimate the price elasticity of water demand with household-level data, structurally modeling the piecewise-linear budget constraints imposed by increasing-block pricing. We develop a mathematical expression for the unconditional price elasticity of demand under increasing-block prices and compare conditional and unconditional elasticities analytically and empirically. We test the hypothesis that price elasticity may depend on price structure, beyond technical differences in elasticity co...

  7. Finding the multipath propagation of multivariable crude oil prices using a wavelet-based network approach

    Science.gov (United States)

    Jia, Xiaoliang; An, Haizhong; Sun, Xiaoqi; Huang, Xuan; Gao, Xiangyun

    2016-04-01

    The globalization and regionalization of crude oil trade inevitably give rise to the difference of crude oil prices. The understanding of the pattern of the crude oil prices' mutual propagation is essential for analyzing the development of global oil trade. Previous research has focused mainly on the fuzzy long- or short-term one-to-one propagation of bivariate oil prices, generally ignoring various patterns of periodical multivariate propagation. This study presents a wavelet-based network approach to help uncover the multipath propagation of multivariable crude oil prices in a joint time-frequency period. The weekly oil spot prices of the OPEC member states from June 1999 to March 2011 are adopted as the sample data. First, we used wavelet analysis to find different subseries based on an optimal decomposing scale to describe the periodical feature of the original oil price time series. Second, a complex network model was constructed based on an optimal threshold selection to describe the structural feature of multivariable oil prices. Third, Bayesian network analysis (BNA) was conducted to find the probability causal relationship based on periodical structural features to describe the various patterns of periodical multivariable propagation. Finally, the significance of the leading and intermediary oil prices is discussed. These findings are beneficial for the implementation of periodical target-oriented pricing policies and investment strategies.

  8. Rise, stagnation, and rise of Danish women's life expectancy

    DEFF Research Database (Denmark)

    Lindahl-Jacobsen, Rune; Rau, Roland; Jeune, Bernard

    2016-01-01

    or later. Because it is difficult to disentangle period effects from cohort effects, demographers, epidemiologists, actuaries, and other population scientists often disagree about cohort effects' relative importance. In particular, some advocate forecasts of life expectancy based on period trends; others...... favor forecasts that hinge on cohort differences. We use a combination of age decomposition and exchange of survival probabilities between countries to study the remarkable recent history of female life expectancy in Denmark, a saga of rising, stagnating, and now again rising lifespans. The gap between...

  9. China and the relationship between the oil price and the dollar

    Energy Technology Data Exchange (ETDEWEB)

    Benassy-Quere, Agnes [CEPII, Paris (France); Mignon, Valerie [EconomiX-CNRS, and CEPII, University of Paris (France); Penot, Alexis [GATE, University of Lyon, CNRS, ENS-LSH, Centre Leon Berard (France)

    2007-11-15

    We study cointegration and causality between the real price of oil and the real price of the dollar over the 1974-2004 period. Our results suggest that a 10% rise in the oil price coincides with a 4.3% appreciation of the dollar in the long run, and that the causality runs from oil to the dollar. Through the development of a theoretical model, we then investigate possible reasons why this relationship could be reversed in the future due to the emergence of China as a major player on both the oil and the foreign exchange markets. (author)

  10. Antimicrobial price variation: Conundrum of medical profession!

    Directory of Open Access Journals (Sweden)

    Rataboli P

    2007-01-01

    Full Text Available Pharmacoeconomics plays a pivotal role in clinical practice. High medicine prices can adversely affect a patient′s finances and compliance. The Indian pharmaceutical industry has become a cornucopia of medicines with wide variation in prices for the same medicine marketed under different brand names. Price list of available antimicrobial brands was procured from a commercial drug directory. Average price of widely prescribed oral antimicrobials was found and price variation between different brands was calculated. The variation in medicine prices was found to be from 95% lower to more than 350% higher than the average price. Implications of price variation in clinical practice are discussed and remedial measures suggested.

  11. Spikes and memory in (Nord Pool) electricity price spot prices

    DEFF Research Database (Denmark)

    Proietti, Tomasso; Haldrup, Niels; Knapik, Oskar

    Electricity spot prices are subject to transitory sharp movements commonly referred to as spikes. The paper aims at assessing their effects on model based inferences and predictions, with reference to the Nord Pool power exchange. We identify a spike as a price value which deviates substantially...... the spikes, i.e. shrinking an observation deviating substantially from the normal price towards the one-step-ahead prediction. Our empirical application illustrates the effects of the spikes on the estimates of the parameters governing the persistence of the series; moreover, a real time rolling forecasting...... from the normal price, where the latter is defined as the expectation arising from a model accounting for long memory at the zero and at the weekly seasonal frequencies, given the knowledge of the past realizations. Hence, a spike is associated to a time series innovation with size larger than...

  12. Dynamic Pricing for Demand Response Considering Market Price Uncertainty

    National Research Council Canada - National Science Library

    Mohammad Ali Fotouhi Ghazvini; João Soares; Hugo Morais; Rui Castro; Zita Vale

    2017-01-01

    ...) units to avoid financial losses in the volatile electricity markets. In this paper, the problem of setting dynamic retail sales price by a REP is addressed with a robust optimization technique...

  13. Assessing high house prices: Bubbles, fundamentals, and misperceptions

    OpenAIRE

    Himmelberg, Charles; Mayer, Christopher; Sinai, Todd

    2005-01-01

    How does one tell when rapid growth in house prices is caused by fundamental factors of supply and demand and when it is an unsustainable bubble? In this paper, we explain how to assess the state of house prices—both whether there is a bubble and what underlying factors support housing demand—in a way that is grounded in economic theory. In doing so, we correct four common fallacies about the costliness of the housing market. For a number of reasons, conventional metrics for assessing pricing...

  14. Spatial peak-load pricing

    Energy Technology Data Exchange (ETDEWEB)

    Arellano, M. Soledad; Serra, Pablo [Universidad de Chile, Dept. of Industrial Engineering, Santiago (Chile)

    2007-03-15

    This article extends the traditional electricity peak-load pricing model to include transmission costs. In the context of a two-node, two-technology electric power system, where suppliers face inelastic demand, we show that when the marginal plant is located at the energy-importing center, generators located away from that center should pay the marginal capacity transmission cost; otherwise, consumers should bear this cost through capacity payments. Since electric power transmission is a natural monopoly, marginal-cost pricing does not fully cover costs. We propose distributing the revenue deficit among users in proportion to the surplus they derive from the service priced at marginal cost. (Author)

  15. Mortgage lending and house prices in Albania - a co-integrated analysis based on VECM

    Directory of Open Access Journals (Sweden)

    Erjona REBI

    2014-06-01

    Full Text Available The general view that the banks’ lending plays a crucial role in the real estate market was again confirmed during the recent financial crisis. During the precrisis period, house prices in Albania increased rapidly, supported also by a fast expansion of mortgage lending. This study aims to empirically analyse the relation between housing prices and banks’ financing in the long run, referring to a VECM model. The estimated results confirm the important role of mortgage to house prices. Meanwhile, the relation between house prices and interest rates resulted statistically insignificant. Unlike the previous literature, exchange rate has been included as an endogenous variable. Results show positive correlation and statistical significance between house prices and exchange rate. Finally, this paper is expected to contribute to the literature as there are very few studies that elaborate on the macroeconomic factors’ influence on the housing prices in Albania.

  16. Sea level rise with warming above 2 degree

    Science.gov (United States)

    Jevrejeva, Svetlana; Jackson, Luke; Riva, Riccardo; Grinsted, Aslak; Moore, John

    2017-04-01

    Holding the increase in the global average temperature to below 2 °C above pre-industrial levels, and pursuing efforts to limit the temperature increase to 1.5 °C, has been agreed by the representatives of the 196 parties of United Nations, as an appropriate threshold beyond which climate change risks become unacceptably high. Sea level rise is one of the most damaging aspects of warming climate for the more than 600 million people living in low-elevation coastal areas less than 10 meters above sea level. Fragile coastal ecosystems and increasing concentrations of population and economic activity in coastal areas, are reasons why future sea level rise is one of the most damaging aspects of the warming climate. Furthermore, sea level is set to continue to rise for centuries after greenhouse gas emissions concentrations are stabilised due to system inertia and feedback time scales. Impact, risk, adaptation policies and long-term decision making in coastal areas depend on regional and local sea level rise projections and local projections can differ substantially from the global one. Here we provide probabilistic sea level rise projections for the global coastline with warming above the 2 degree goal. A warming of 2°C makes global ocean rise on average by 20 cm, but more than 90% of coastal areas will experience greater rises, 40 cm along the Atlantic coast of North America and Norway, due to ocean dynamics. If warming continues above 2°C, then by 2100 sea level will rise with speeds unprecedented throughout human civilization, reaching 0.9 m (median), and 80% of the global coastline will exceed the global ocean sea level rise upper 95% confidence limit of 1.8 m. Coastal communities of rapidly expanding cities in the developing world, small island states, and vulnerable tropical coastal ecosystems will have a very limited time after mid-century to adapt to sea level rises.

  17. Investors’ risk attitudes and stock price fluctuation asymmetry

    Science.gov (United States)

    Zhang, Yu; Li, Honggang

    2011-05-01

    Price rise/fall asymmetry, which indicates enduring but modest rises and sudden short-term falls, is a ubiquitous phenomenon in stock markets throughout the world. Instead of the widely used time series method, we adopt inverse statistics from turbulence to analyze this asymmetry. To explore its underlying mechanism, we build a multi-agent model with two kinds of investors, which are specifically referred to as fundamentalists and chartists. Inspired by Kahneman and Tversky’s claim regarding peoples’ asymmetric psychological responses to the equivalent levels of gains and losses, we assume that investors take different risk attitudes to gains and losses and adopt different trading strategies. The simulation results of the model developed herein are consistent with empirical work, which may support our conjecture that investors’ asymmetric risk attitudes might be one origin of rise/fall asymmetry.

  18. The effect of generic competition on the price of brand-name drugs.

    Science.gov (United States)

    Lexchin, Joel

    2004-04-01

    Literature from the US has shown that brand-name manufacturers do not compete on price once generic competitors become available. This study was undertaken to investigate if this is also true in Canada. Editions of the Ontario Drug Benefit Formulary were used to identify brand-name drugs that lacked generic competition in July 1990 but had acquired one or more generic competitors by December 1998. Prices of the brand-name drugs were compared before generic competition, at the point when generic competition started and subsequent to the initiation of competition. Price changes for 81 different products in 144 separate presentations were analysed. There was no statistically significant change in brand-name prices when generic competition started. The movement of brand-name prices was not influenced by whether the generic was made by the company producing the brand-name product or price freezes imposed by the Ontario government. When generics first became available having four or more generics was associated with a rise in the price of the brand-name drugs compared to having one, two or three generic competitor(s). The lack of price competition may lead to increased costs in the private market. Private insurance companies generally do not require generic substitution and some provinces do not require generic substitution for cash-paying customers. Maintaining higher prices on brand-name drugs impacts on the prices of new patented medications coming onto the Canadian market under the current pricing guidelines of the Patented Medicine Prices Review Board.

  19. Dynamic Price Dispersion of Storable Goods

    DEFF Research Database (Denmark)

    Gao, Cixiu

    2014-01-01

    consists of one-time price reductions and several consecutive periods in which all retailers offer the regular price. The model predicts that competition is the hardest when consumer inventories are zero, and that at high inventory levels the probability of holding a sale is low.......In this paper I provide an analytical model for the rationale behind supermarket pricing patterns characterized by long-term high prices and temporary price reductions. The model is based on the understanding that temporary price reductions serve the role of price discrimination between consumers...... with different search costs and willingness to wait. I demonstrate that the high-price-low-price pattern is rational for storable goods. In a Markov-perfect equilibrium, agents’ actions depend on consumer inventory, and purchase decisions are characterized by a critical price. The equilibrium price series...

  20. Supply Chain Shipment Pricing Data

    Data.gov (United States)

    US Agency for International Development — This data set provides supply chain health commodity shipment and pricing data. Specifically, the data set identifies Antiretroviral (ARV) and HIV lab shipments to...

  1. Dynamic pricing of a resource

    KAUST Repository

    Al-Dawsari, Monther Abdullah

    2013-06-04

    A method of dynamic pricing of a resource is presented. For example, the method includes determining a set of anticipated demands for one or more users to acquire the resource according to uncertainty of the one or more users in preferring one or more certain time periods of a plurality of time periods for acquiring the resource. Prices for the resource differ between at least two of the plurality of time periods. Each anticipated demand of the set is associated with a different one of the plurality of time periods. The method further includes setting prices for the resource during each of the plurality of time periods according to the determined set of anticipated demands. The determining of the set of anticipated demands and/or the setting of prices are implemented as instruction code executed on a processor device.

  2. Pricing Models Using Real Data

    Science.gov (United States)

    Obremski, Tom

    2008-01-01

    A practical hands-on classroom exercise is described and illustrated using the price of an item as dependent variable throughout. The exercise is well-tested and affords the instructor a variety of approaches and levels.

  3. Poverty, Policy and Price Transmission

    DEFF Research Database (Denmark)

    Elleby, Christian

    domestic goods. Households prefer the traded good which they substitute towards as their incomes increase, thus exposing themselves to world market price swings. Price transmission from international to domestic markets therefore increases with per capita income but also with income inequality. Model......This thesis consists of four self-contained chapters in which different aspects of the relationship between international commodity markets and domestic food markets are explored. What motivates the analysis is the recent surge in international commodity prices and the controversy over the poverty...... impact of the 2007-8 ‘food crisis’, in particular. The first paper analyses, in a stylized economic model, how the response of domestic aggregate food prices to an international shock depends on features of the country’s income distribution. The model is based on a dichotomy between traded and purely...

  4. Experimental Evidence on Transfer Pricing

    Directory of Open Access Journals (Sweden)

    Tran Quoc H.

    2016-06-01

    Full Text Available We use incentivized economics experiments to test both the point predictions and comparative static predictions of optimal transfer pricing models, comparing behavior under varying conditions, including wholly versus partially-owned subsidiaries and different tariff and tax rates. As predicted, we find that transfer prices are responsive to relative tax and tariff rates as well as ownership proportions. Additionally, we examine convergence and learning in this setting. While individuals do not choose optimal transfer prices, their choices converge to optimal levels with experience. This paper thus makes two important contributions. First, by comparing behavior with theoretical predictions it provides evidence of whether (and when individuals set transfer prices optimally. Second, by comparing behavior under conditions of full and partial ownership it provides evidence on the impact of policy interventions (like regulating ownership proportions by MNEs on tax revenues.

  5. Update on inflation of journal prices: Brandon/Hill list journals and the scientific, technical, and medical publishing market.

    Science.gov (United States)

    Schlimgen, Joan B; Kronenfeld, Michael R

    2004-07-01

    The original study of journal prices, using the "Brandon/ Hill Selected List of Books and Journals for the Small Medical Library," was first published in 1980 and periodically updated. This research continues to measure price increases for these titles for the periods 1996 to 1999 and 1999 to 2002. The 111 journal titles that have appeared in each published list from 1967 to 2001 were included in the study. Institutional subscription price data were gathered for each journal for the years 1996, 1999, and 2002 and were compared to the Consumer Price Index (CPI) for the same years. The average journal price continues to rise significantly and is independent of the CPI. The study found that prices have jumped 51.9% from 1996 to 1999 and 32% from 1999 to 2002, which is consistent with nearly every recent journal price study. The unprecedented rise in journal prices negatively affects the purchasing power of medical libraries. This paper examines the economic and technological pressures on the science, technology, and medical journals market that contribute to high prices and identifies a number of initiatives in the biological and health sciences that utilize alternative models for disseminating scientific research.

  6. Update on inflation of journal prices: Brandon/Hill list journals and the scientific, technical, and medical publishing market*

    Science.gov (United States)

    Schlimgen, Joan B.; Kronenfeld, Michael R.

    2004-01-01

    Objective: The original study of journal prices, using the “Brandon/ Hill Selected List of Books and Journals for the Small Medical Library,” was first published in 1980 and periodically updated. This research continues to measure price increases for these titles for the periods 1996 to 1999 and 1999 to 2002. Methodology: The 111 journal titles that have appeared in each published list from 1967 to 2001 were included in the study. Institutional subscription price data were gathered for each journal for the years 1996, 1999, and 2002 and were compared to the Consumer Price Index (CPI) for the same years. Results: The average journal price continues to rise significantly and is independent of the CPI. The study found that prices have jumped 51.9% from 1996 to 1999 and 32% from 1999 to 2002, which is consistent with nearly every recent journal price study. Conclusion: The unprecedented rise in journal prices negatively affects the purchasing power of medical libraries. This paper examines the economic and technological pressures on the science, technology, and medical journals market that contribute to high prices and identifies a number of initiatives in the biological and health sciences that utilize alternative models for disseminating scientific research. PMID:15243636

  7. Sharecropping, interlinkage, and price variation

    OpenAIRE

    Debapriya Sen

    2005-01-01

    This paper proposes a theory of sharecropping and interlinkage on the basis of seasonal variation of price and imperfectly competitive nature of rural product markets. First, a benchmark model is considered to show the optimality of sharecropping in the presence of price variation. This model is extended by allowing interlinked contracts to show that there are multiple equilibria and both forms of contracts�fixed rental and sharecropping�can be sustained in equilibrium. Finally, incorpora...

  8. Contagion and REIT Stock Prices

    OpenAIRE

    Chinmoy Ghosh; Randall S. Guttery; C. F. Sirmans

    1998-01-01

    This article investigates the contagious movement of real estate investment trust (REIT) stock prices in response to real estate news related to financial institutions' real estate portfolios. The basic hypothesis is that because real estate assets are traded infrequently, the market has incomplete information about their true value; thus, REIT stock prices react negatively to announcements of poorly performing real estate portfolios of financial institutions. Consistent with the hypothesis, ...

  9. Petroleum price; Prix du petrole

    Energy Technology Data Exchange (ETDEWEB)

    Maurice, J

    2001-07-01

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

  10. Information, Search, and Price Dispersion

    OpenAIRE

    Baye, Michael R; John Morgan; Patrick Scholten

    2006-01-01

    We provide a unified treatment of alternative models of information acquisition/transmission that have been advanced to rationalize price dispersion in online and offline markets for homogeneous products. These different frameworks -- which include sequential search, fixed sample search, and clearinghouse models -- reveal that reductions in (or the elimination of) consumer search costs need not reduce (or eliminate) price dispersion. Our treatment highlights a "duality" between search-theoret...

  11. Analysis of Cryptocurrencies Price Development

    OpenAIRE

    Jan Lansky

    2016-01-01

    Cryptocurrencies are a type of digital currencies based on cryptography principles. Cryptocurrencies are a unique combination of three characteristics: they provide anonymity, they are independent of central authority and they provide protection from double spending attack. The aim of this paper is to capture trends in the area of significant cryptocurrencies price developments and to explain their causes. The current research in this area is exclusively limited to an analysis of the price de...

  12. Investor Psychology and Asset Pricing

    OpenAIRE

    Hirshleifer, David

    2001-01-01

    The basic paradigm of asset pricing is in vibrant flux. The purely rational approach is being subsumed by a broader approach based upon the psychology of investors. In this approach, security expected returns are determined by both risk and misvaluation. This survey sketches a framework for understanding decision biases, evaluates the a priori arguments and the capital market evidence bearing on the importance of investor psychology for security prices, and reviews recent models.

  13. The effect of the advertising price display format on consumer price perception

    OpenAIRE

    Okuse, Yoshiyuki

    2017-01-01

    Most retail advertisements, such as flyers or features, show both the sale price and an external reference price, such as the regular price. In such a case, how should advertisers display these prices? This study examines the effect of price placement format in advertisements. This study has two aims: (1) to examine the relationship between price perception and the format in the advertisement and (2) to examine the influence of psychological distance on price perception.

  14. Finding Rising and Falling Words

    NARCIS (Netherlands)

    Tjong Kim Sang, E.

    2016-01-01

    We examine two different methods for finding rising words (among which neologisms) and falling words (among which archaisms) in decades of magazine texts (millions of words) and in years of tweets (billions of words): one based on correlation coefficients of relative frequencies and time, and one

  15. Temperature rise of installed FCC

    Science.gov (United States)

    Hankins, J. D.

    1976-01-01

    Report discusses temperature profiles of installed FCC for wood and tile surfaces. Three-conductor FCC was tested at twice nominal current-carrying capacity over bare floor and under carpet, with result indicating that temperature rise is not a linear function of current with FCC at this level.

  16. Decongestion of urban areas with hotspot-pricing

    CERN Document Server

    Solé-Ribalta, Albert; Arenas, Alex

    2016-01-01

    The rapid growth of population in urban areas is jeopardizing the mobility and air quality worldwide. One of the most notable problems arising is that of traffic congestion which in turn affects air pollution. With the advent of technologies able to sense real-time data about cities, and its public distribution for analysis, we are in place to forecast scenarios valuable to ameliorate and control congestion. Here, we propose a local congestion pricing scheme, hotspot-pricing, that surcharges vehicles traversing congested junctions. The proposed tax is computed from the estimation of the evolution of congestion at local level, and the expected response of users to the tax (elasticity). Results on cities' road networks, considering real-traffic data, show that the proposed hotspot-pricing scheme would be more effective than current mechanisms to decongest urban areas, and paves the way towards sustainable congestion in urban areas.

  17. Analysis of Options Contract, Option Pricing in Agricultural Products

    Directory of Open Access Journals (Sweden)

    H. Tamidy

    2016-03-01

    of standardizing the underlying asset 4- Impossibility of creating cross supply of the underlying asset In addition, after the introduction of the model parameters, we offers method calculating of the volatility (standard deviation price with using historical data (time series. Parameters of Blk- Scholes model are introduced and option contract of selected product will pricing. After effect of the rise and fall agreement prices (in the form of 9-defined scenario on the price of put option and sales option are studied. In this study, after forming the hypothetical option market for the Canola, option pricing is done. In this section, the criteria for selecting an appropriate asset base is expressed for option contract. The Black–Scholes model is introduced for the valuation of call option and European put option contract. After introducing the model parameters, the calculation of volatility (standard deviation of price using historical data (time series is presented .To achieve this aim, the Black – Scholes model was used under 9 strike price scenario of 5, 10, 15, 20 percent above; 5, 10, 15, and 20 percent lower and finally equal to current prices. This model was run in Excel 2010 and Derivea gem 1.5. Results and Discussion: The results showed 43% price volatility for canola that reflects uncertainty in its price. In the next stage of pricing, the purchase and sale of the selected product was done under the nine price scenarios. The results showed that the highest authority to purchase option was for scenario K1 and the highest buy option was for the K9 scenario. The least expensive buy option is K9 and the least expensive sell option is K1. Conclusion: The results show that the increase of strike price under these scenarios leads to a decrease of call option price and decrease of put option price. In addition, the farmers, businesspersons and agricultural products transforming factories with a different degree of risk disclosure can participate in these markets

  18. World medical schools: The sum also rises.

    Science.gov (United States)

    Rigby, Perry G; Gururaja, Ramnarayan P

    2017-06-01

    There is a worldwide shortage of doctors, which is true in most countries and on most continents. To enumerate the number of medical schools in the world at two different times, showing the trends and relating this to population is a beginning. The number is actually going up and has done so for some time; this has increased the supply of physicians and broadened healthcare delivery. The number to count for geographic and regional information about the medical schools relates directly to the supply of doctors. Regions were chosen from WHO and Foundation for the Advancement of International Medical Education and Research data to illustrate geographic distributions, physicians per patient and kinetics. The number of medical schools has consistently been rising around the world. However, world order is reverting to disorder, considering wars, disease and beleaguered stand-offs. None. Eight countries contain 40% of medical schools; however, several locations are rising faster than the rest. Some regions are stable, but sub-Saharan Africa, the Caribbean, South Asia and South America have increased the most in percentage recently, but not uniformly. Medical schools are related not only by geography, political boundaries and population but are concentrated in some regions. Graduate Medical Education positions appear to be short on a worldwide basis, as well as in some regions and countries. The number of medical schools is increasing worldwide and the identification of rapidly rising geographic areas is useful in exploring, planning and comparing regions. Controversy continues in a variety of locations, especially concerning Graduate Medical Education. In addition to funding, faculty candidates and accreditation, new schools are confronting a variety of choices in standards and quality, sizing and regional concerns.

  19. Does the market share of generic medicines influence the price level?: a European analysis.

    Science.gov (United States)

    Dylst, Pieter; Simoens, Steven

    2011-10-01

    After the expiry of patents for originator medicines, generic medicines can enter the market, and price competition may occur. This process generates savings to the healthcare payer and to patients, but knowledge about the factors affecting price competition in the pharmaceutical market following patent expiry is still limited. This study aimed to investigate the relationship between the market share of generic medicines and the change of the medicine price level in European off-patent markets. Data on medicine volumes and values for 35 active substances were purchased from IMS Health. Ex-manufacturer prices were used, and the analysis was limited to medicines in immediate-release, oral, solid dosage forms. Countries included were Austria, Belgium, Denmark, Germany, France, Italy, the Netherlands, Spain, Sweden and the UK, which constitute a mix of countries with low and high generic medicines market shares. Data were available from June 2002 until March 2007. Market volume has risen in both high and low generic market share countries (+29.27% and +27.40%, respectively), but the cause of the rise is different for the two markets. In low generic market share countries, the rise was caused by the increased use of generic medicines, while in high market share countries, the rise was driven by the increased use of generic medicines and a shift of use from originator to generic medicines. Market value was substantially decreased in high generic market share countries (-26.6%), while the decrease in low generic market share countries was limited (-0.06%). In high generic market share countries, medicine prices dropped by -43.18% versus -21.56% in low market share countries. The extent to which price competition from generic medicines leads to price reductions appears to vary according to the market share of generic medicines. High generic market share countries have seen a larger decrease in medicine prices than low market share countries.

  20. The price of incivility.

    Science.gov (United States)

    Porath, Christine; Pearson, Christine

    2013-01-01

    We've all heard of (or experienced) the "boss from hell." But that's just one form that incivility in the workplace can take. Rudeness on the job is surprisingly common, and it's on the rise. Whether it involves overt bullying or subtle acts of thoughtlessness, incivility takes a toll. It erodes productivity, chips away at morale, leads employees to quit, and damages customer relationships. Dealing with its aftermath can soak up weeks of managerial attention and time. Over the past 14 years the authors have conducted interviews with and collected data from more than 14,000 people throughout the United States and Canada in order to track the prevalence, types, causes, costs, and cures of incivility at work. They suggest several steps leaders can take to counter rudeness. Managers should start with themselves-monitoring their own behavior, asking for feedback on it, and making sure that their actions are a model for others. When it comes to managing the organization, leaders should hire with civility in mind, teach it on the job, create group norms, reward good behavior, and penalize bad behavior. Lest consistent civility seem an extravagance, the authors caution that just one habitually offensive employee critically positioned in an organization can cost millions in Lost employees, lost customers, and lost productivity.

  1. Rise, stagnation, and rise of Danish women's life expectancy

    DEFF Research Database (Denmark)

    Lindahl-Jacobsen, Rune; Rau, Roland; Jeune, Bernard

    2016-01-01

    Health conditions change from year to year, with a general tendency in many countries for improvement. These conditions also change from one birth cohort to another: some generations suffer more adverse events in childhood, smoke more heavily, eat poorer diets, etc., than generations born earlier...... favor forecasts that hinge on cohort differences. We use a combination of age decomposition and exchange of survival probabilities between countries to study the remarkable recent history of female life expectancy in Denmark, a saga of rising, stagnating, and now again rising lifespans. The gap between...... female life expectancy in Denmark vs. Sweden grew to 3.5 y in the period 1975-2000. When we assumed that Danish women born 1915-1945 had the same survival probabilities as Swedish women, the gap remained small and roughly constant. Hence, the lower Danish life expectancy is caused by these cohorts...

  2. 48 CFR 15.405 - Price negotiation.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Price negotiation. 15.405... AND CONTRACT TYPES CONTRACTING BY NEGOTIATION Contract Pricing 15.405 Price negotiation. (a) The purpose of performing cost or price analysis is to develop a negotiation position that permits the...

  3. Price Discrimination and Resale: A Classroom Experiment

    Science.gov (United States)

    Basuchoudhary, Atin; Metcalf, Christopher; Pommerenke, Kai; Reiley, David; Rojas, Christian; Rostek, Marzena; Stodder, James

    2008-01-01

    The authors present a classroom experiment designed to illustrate key concepts of third-degree price discrimination. By participating as buyers and sellers, students actively learn (1) how group pricing differs from uniform pricing, (2) how resale between buyers limits a seller's ability to price discriminate, and (3) how preventing price…

  4. Dynamic pricing models for electronic business

    Indian Academy of Sciences (India)

    R. Narasimhan (Krishtel eMaging) 1461 1996 Oct 15 13:05:22

    Abstract. Dynamic pricing is the dynamic adjustment of prices to consumers depending upon the value these customers attribute to a product or service. Today's digital economy is ready for dynamic pricing; however recent research has shown that the prices will have to be adjusted in fairly sophisticated ways, based on.

  5. 48 CFR 15.402 - Pricing policy.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Pricing policy. 15.402... AND CONTRACT TYPES CONTRACTING BY NEGOTIATION Contract Pricing 15.402 Pricing policy. Contracting... certified cost or pricing data when required by 15.403-4, along with data other than certified cost or...

  6. 48 CFR 1615.402 - Pricing policy.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Pricing policy. 1615.402... Contract Pricing 1615.402 Pricing policy. Pricing of FEHB contracts is governed by 5 U.S.C. 8902(i), 5 U.S.C. 8906, and other applicable law. FAR subpart 15.4 will be implemented by applying its policies and...

  7. 48 CFR 215.402 - Pricing policy.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Pricing policy. 215.402... OF DEFENSE CONTRACTING METHODS AND CONTRACT TYPES CONTRACTING BY NEGOTIATION Contract Pricing 215.402 Pricing policy. Follow the procedures at PGI 215.402 when conducting cost or price analysis, particularly...

  8. Dynamic pricing models for electronic business

    Indian Academy of Sciences (India)

    Dynamic pricing is the dynamic adjustment of prices to consumers depending upon the value these customers attribute to a product or service. Today's digital economy is ready for dynamic pricing; however recent research has shown that the prices will have to be adjusted in fairly sophisticated ways, based on sound ...

  9. 10 CFR 218.12 - Pricing.

    Science.gov (United States)

    2010-01-01

    ... 10 Energy 3 2010-01-01 2010-01-01 false Pricing. 218.12 Section 218.12 Energy DEPARTMENT OF ENERGY OIL STANDBY MANDATORY INTERNATIONAL OIL ALLOCATION Supply Orders § 218.12 Pricing. The price for oil subject to a supply order issued pursuant to this subpart shall be based on the price conditions...

  10. UPDATE February 2012 - The Food Crises: Predictive validation of a quantitative model of food prices including speculators and ethanol conversion

    CERN Document Server

    Lagi, Marco; Bertrand, Karla Z; Bar-Yam, Yaneer

    2012-01-01

    Increases in global food prices have led to widespread hunger and social unrest---and an imperative to understand their causes. In a previous paper published in September 2011, we constructed for the first time a dynamic model that quantitatively agreed with food prices. Specifically, the model fit the FAO Food Price Index time series from January 2004 to March 2011, inclusive. The results showed that the dominant causes of price increases during this period were investor speculation and ethanol conversion. The model included investor trend following as well as shifting between commodities, equities and bonds to take advantage of increased expected returns. Here, we extend the food prices model to January 2012, without modifying the model but simply continuing its dynamics. The agreement is still precise, validating both the descriptive and predictive abilities of the analysis. Policy actions are needed to avoid a third speculative bubble that would cause prices to rise above recent peaks by the end of 2012.

  11. The aims of transfer prices formation

    Directory of Open Access Journals (Sweden)

    Tomašević Stevan

    2013-01-01

    Full Text Available More than two-thirds of today's world trade comprises of transactions between related legal persons. Prices for the above-mentioned transactions within legal person or group of related legal persons are called transfer pricing. The aim of this paper is to present the transfer prices as well as the main objectives of transfer pricing. Also, this paper explains application of transfer pricing in the Republic of Serbia and the normative rules that cover the issue of transfer pricing, their determination and their application in the calculation. Overall, there has been a great deal of attention paid to the transfer pricing in national and international levels.

  12. Two tier pricing system recommendation and summary

    Energy Technology Data Exchange (ETDEWEB)

    None

    1974-06-01

    In both the U.S. and the world today the most critical price system problem is the spectacular crude price set by the OPEC monopoly. In the U.S. this $10.00 plus price currently sets the price of 60% of our crude petroleum input. Therefore, the most powerful method available to reduce U.S. crude input price inflation is to reduce the OPEC monopoly price by at least $2 or 20%. At this price, it would supposedly approximate the long run cost of such energy. The situation is reviewed and recommendations and a summary are provided.

  13. Locational Pricing to Mitigate Voltage Problems Caused by High PV Penetration

    Directory of Open Access Journals (Sweden)

    Sam Weckx

    2015-05-01

    Full Text Available In this paper, a locational marginal pricing algorithm is proposed to control the voltage in unbalanced distribution grids. The increasing amount of photovoltaic (PV generation installed in the grid may cause the voltage to rise to unacceptable levels during periods of low consumption. With locational prices, the distribution system operator can steer the reactive power consumption and active power curtailment of PV panels to guarantee a safe network operation. Flexible loads also respond to these prices. A distributed gradient algorithm automatically defines the locational prices that avoid voltage problems. Using these locational prices results in a minimum cost for the distribution operator to control the voltage. Locational prices can differ between the three phases in unbalanced grids. This is caused by a higher consumption or production in one of the phases compared to the other phases and provides the opportunity for arbitrage, where power is transferred from a phase with a low price to a phase with a high price. The effect of arbitrage is analyzed. The proposed algorithm is applied to an existing three-phase four-wire radial grid. Several simulations with realistic data are performed.

  14. Residential Water Demand in a Mexican Biosphere Reserve: Evidence of the Effects of Perceived Price

    Directory of Open Access Journals (Sweden)

    Marco Antonio Almendarez-Hernández

    2016-09-01

    Full Text Available The purpose of this paper is to provide empirical evidence for policy-makers of water management, evaluate the applicability of economic variables such as price and other factors that affect demand, and determine the impact thereof on decision-making surrounding water management in the El Vizcaino Biosphere Reserve in Mexico. We estimated a dynamic function with an average price specification, as well as price perception specification. Findings demonstrated that consumers tend to react to perceived average price but not to the marginal price. Furthermore, long-term price elasticity was found to be higher than short-term elasticity, and both elasticities were found to be inelastic. Inelastic elasticities, coupled with rising prices, generate substantial revenues with which to improve water planning and supply quality and to expand service coverage. The results suggest that users’ level of knowledge surrounding price is a key factor to take into account when restructuring rates, especially in situations where consumers do not readily possess the necessary information about their rate structure and usage within a given billing period. Furthermore, the results can help water management policy-makers to achieve goals of economic efficiency, social equity, and environmental sustainability.

  15. Dynamics of the international coffee market and instrumental in price formation

    Directory of Open Access Journals (Sweden)

    Ricardo Candéa Sá Barreto

    2016-12-01

    Full Text Available This study's main general objective of studying the behavior of coffee beans on the international market. Empirical analysis uses econometric tool as a model of simultaneous equations using least squares in a three-stage annual data base extending over the period 1964 / 65-2014 / 15. The results suggest that the factors that affect the production of coffee beans are the actual prices and the planted area. However, demand is affected by the growth of the world economy. The price simulations for the period 2014/15 - 2020/21 indicate that a yearly growth (GDP of 2.1% there is a tendency of small high price to 3.6% moderate rise in the price of coffee until 2018/19 and a stronger growth trend of prices from 2019/20 and a growth of 4.7% a high coffee prices trend in grain on the international market. Thus the tendency of the projections 3 and the key market factors continue to favor the maintenance of current high coffee prices. For the full period 1964/65 to 2014/15 there is a moderate relationship between coffee prices and the stock. It follows that the results obtained with the scenarios developed in this work can be useful to rethink measures to recover income from coffee producing countries

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

    Energy Technology Data Exchange (ETDEWEB)

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

    2014-10-14

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

  17. 48 CFR 16.206 - Fixed-ceiling-price contracts with retroactive price redetermination.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Fixed-ceiling-price contracts with retroactive price redetermination. 16.206 Section 16.206 Federal Acquisition Regulations...-Price Contracts 16.206 Fixed-ceiling-price contracts with retroactive price redetermination. ...

  18. Export channel pricing management for integrated solutions

    OpenAIRE

    Roine, Henna; Sainio, Liisa-Maija; Saarenketo, Sami

    2012-01-01

    This article studies systems integrators' export channel pricing management for integrated solutions. We find support from our empirical case study for the notion that a systems integrator's export channel pricing strategy is multidimensional and dependent on international pricing environment and partner characteristics and that export partnerships have unique implications on a systems integrator's pricing process. The results show that giving up pricing control in export channel context may ...

  19. A Reconsideration of Full-Cost Pricing

    OpenAIRE

    Nubbemeyer, Elmar

    2010-01-01

    The wide use of full-cost pricing techniques remains an explanandum in both economics and management accounting theory. This work surveys and develops possible theoretical explanations of this industrial pricing behaviour and analyses some of its implications. By recognition of the widespread use of imperfect cost-plus pricing heuristics, observable pricing behaviour, as well as empirical market-level phenomena, can be explained. Furthermore, methodological aspects of marginalist price the...

  20. Pricing strategies of the supermarket sector

    OpenAIRE

    Leal, Joana Lobato da Fonseca Sáragga

    2014-01-01

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

  1. OPTIMAL PRICING OF EXECUTIVE MBA PROGRAMS

    OpenAIRE

    Francis Petit

    2010-01-01

    The purpose of this research is to determine the most strategic tuition pricing strategy that can be utilized by senior management in Business Schools when pricing Executive MBA Programs. To determine this information, the state of the Executive MBA market and three pricing strategies were reviewed in detail and an analysis ensued on the viability and applicability of each strategy for pricing Executive MBA Programs. The main findings of this study indicate that the Value Based pricing model ...

  2. Estimating Hedonic Prices for Stellenbosch wine

    OpenAIRE

    Sanja Lutzeyer

    2008-01-01

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

  3. Dynamic Duopoly with Best-Price Clauses

    OpenAIRE

    Monika Schnitzer

    1994-01-01

    This article investigates best-price clauses as a strategic devise to facilitate collusion in a dynamic duopoly game. Best-price clauses guarantee rebates on the purchase price if a customer finds a better price after his purchase. Two different price clauses are distinguished: "most favored customer" and "meet or release." I examine the collusive potential of both clauses in a finite-horizon duopoly model with homogeneous durable goods. In each period, new consumers enter the market. I show ...

  4. Transfer Pricing as a Tax Compliance Risk

    OpenAIRE

    Jost, Sven P.; Pfaffermayr, Michael; Winner, Hannes

    2010-01-01

    This paper contributes to the empirical literature on the transfer pricing behavior of multinational firms. Previous research mainly focuses on transfer pricing as a means of tax optimization. Our approach concentrates on transfer pricing as a critical compliance issue. Specifically, we investigate whether and to what extent the awareness of transfer pricing as a tax compliance issue responds to country and industry characteristics as well as firm-specifics. Empirically, the transfer pricing ...

  5. Learning to Price with Reference Effects

    OpenAIRE

    Kazerouni, Abbas; Van Roy, Benjamin

    2017-01-01

    As a firm varies the price of a product, consumers exhibit reference effects, making purchase decisions based not only on the prevailing price but also the product's price history. We consider the problem of learning such behavioral patterns as a monopolist releases, markets, and prices products. This context calls for pricing decisions that intelligently trade off between maximizing revenue generated by a current product and probing to gain information for future benefit. Due to dependence o...

  6. Oil Price Uncertainty, Transport Fuel Demand and Public Health

    Science.gov (United States)

    He, Ling-Yun; Yang, Sheng; Chang, Dongfeng

    2017-01-01

    Based on the panel data of 306 cities in China from 2002 to 2012, this paper investigates China’s road transport fuel (i.e., gasoline and diesel) demand system by using the Almost Ideal Demand System (AIDS) and the Quadratic AIDS (QUAIDS) models. The results indicate that own-price elasticities for different vehicle categories range from −1.215 to −0.459 (by AIDS) and from −1.399 to −0.369 (by QUAIDS). Then, this study estimates the air pollution emissions (CO, NOx and PM2.5) and public health damages from the road transport sector under different oil price shocks. Compared to the base year 2012, results show that a fuel price rise of 30% can avoid 1,147,270 tonnes of pollution emissions; besides, premature deaths and economic losses decrease by 16,149 cases and 13,817.953 million RMB yuan respectively; while based on the non-linear health effect model, the premature deaths and total economic losses decrease by 15,534 and 13,291.4 million RMB yuan respectively. Our study combines the fuel demand and health evaluation models and is the first attempt to address how oil price changes influence public health through the fuel demand system in China. Given its serious air pollution emission and substantial health damages, this paper provides important insights for policy makers in terms of persistent increasing in fuel consumption and the associated health and economic losses. PMID:28257076

  7. Competition, regulation, and pricing behaviour in the Spanish retail gasoline market

    Energy Technology Data Exchange (ETDEWEB)

    Contin-Pilart, Ignacio [Departamento de Gestion de Empresas, Universidad Publica de Navarra, Campus de Arrosadia, 31006 Pamplona (Spain); Correlje, Aad F. [Section Economics of Infrastructures, Faculty of Technology, Policy and Management, Delft University of Technology, P.O. Box 5015, 2600 GA Delft (Netherlands); Clingendael International Energy Programme (Netherlands); Blanca Palacios, M. [Departamento de Estadistica e Investigacion Operativa, Universidad Publica de Navarra, Campus de Arrosadia, 31006 Pamplona (Spain)

    2009-01-15

    The restructuring of the Spanish oil industry produced a highly concentrated oligopoly in the retail gasoline market. In June 1990, the Spanish government introduced a system of ceiling price regulation in order to ensure that 'liberalization' was accompanied by adequate consumer protection. By 1998, prices were left to the 'free' market. This paper examines the pricing behaviour of the retail gasoline market using multivariate error correction models over the period January 1993 (abolishment of the state monopoly)-December 2004. The results suggest that gasoline retail prices respond symmetrically to increases as well as to decreases in the spot price of gasoline both over the period of price regulation (January 1993-September 1998) and over the period of free market (October 1998-December 2004). However, once the ceiling price regulation was abolished, cooperation emerged between the government and the major operators, Repsol-YPF and Cepsa-Elf, to control the inflation rate. This resulted in a slower rate of adjustment of gasoline retail prices when gasoline spot prices went up, as compared with the European pattern. Finally, the Spanish retail margin was by the end of our timing period of analysis, as in the starting years after the abolishment of the state monopoly, above the European average. This pattern confirms our political economic hypothesis, which suggests that the Spanish government and the oil companies were working together in reducing the inflation, in periods of rising oil and gasoline prices. It is also inferred that explaining the pricing pattern in energy markets may require different hypothesis than the classical perspective, involving just firms taking advantage of market power. (author)

  8. Do ultra-orphan medicinal products warrant ultra-high prices? A review

    Directory of Open Access Journals (Sweden)

    Picavet E

    2013-06-01

    Full Text Available Eline Picavet,1 David Cassiman,2 Steven Simoens1 1Department of Pharmaceutical and Pharmacological Sciences, KU Leuven, Leuven, Belgium; 2Department of Hepatology, University Hospital Leuven, Leuven, Belgium Abstract: Ultra-orphan medicinal products (ultra-OMPs are intended for the treatment, prevention, or diagnosis of ultra-rare diseases, ie, life-threatening or chronically debilitating diseases that affect less than one per 50,000 individuals. Recently, high prices for ultra-OMPs have given rise to debate on the sustainability and justification of these prices. The aim of this article is to review the international scientific literature on the pricing of ultra-OMPs and to provide an overview of the current knowledge on the drivers of ultra-OMP pricing. The pricing process of ultra-OMPs is a complex and nontransparent issue. Evidence in the literature seems to indicate that ultra-OMPs are priced according to rarity and what the manufacturer believes the market will bear. Additionally, there appears to be a trend between the price of an ultra-OMP and the number of available alternatives. Patients, third-party payers, and pharmaceutical companies could benefit from more transparent pricing strategies. With a view to containing health care costs, it is likely that cost-sharing strategies, such as performance-based risk sharing arrangements, will become increasingly more important. However, it is vital that any measures for price control are consistent with the intended goals of the incentives to promote the development of new OMPs. Ideally, a balance must be struck between attaining affordable prices for ultra-OMPs and securing a realistic return on investment for the pharmaceutical industry. Keywords: ultra-orphan medicinal product, ultra-rare disease, pricing

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

    Science.gov (United States)

    Puig-Junoy, Jaume

    2010-01-01

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

  10. Accurate market price formation model with both supply-demand and trend-following for global food prices providing policy recommendations.

    Science.gov (United States)

    Lagi, Marco; Bar-Yam, Yavni; Bertrand, Karla Z; Bar-Yam, Yaneer

    2015-11-10

    Recent increases in basic food prices are severely affecting vulnerable populations worldwide. Proposed causes such as shortages of grain due to adverse weather, increasing meat consumption in China and India, conversion of corn to ethanol in the United States, and investor speculation on commodity markets lead to widely differing implications for policy. A lack of clarity about which factors are responsible reinforces policy inaction. Here, for the first time to our knowledge, we construct a dynamic model that quantitatively agrees with food prices. The results show that the dominant causes of price increases are investor speculation and ethanol conversion. Models that just treat supply and demand are not consistent with the actual price dynamics. The two sharp peaks in 2007/2008 and 2010/2011 are specifically due to investor speculation, whereas an underlying upward trend is due to increasing demand from ethanol conversion. The model includes investor trend following as well as shifting between commodities, equities, and bonds to take advantage of increased expected returns. Claims that speculators cannot influence grain prices are shown to be invalid by direct analysis of price-setting practices of granaries. Both causes of price increase, speculative investment and ethanol conversion, are promoted by recent regulatory changes-deregulation of the commodity markets, and policies promoting the conversion of corn to ethanol. Rapid action is needed to reduce the impacts of the price increases on global hunger.

  11. China’s Peaceful Rise

    Science.gov (United States)

    2014-05-20

    strategic defeat.”8 Mearsheimer’s analysis falls short in its presumption that security dilemmas, though the theoretical honey traps9 of great power...victim.” See http://www.oxforddictionaries.com, “ honey trap,” (accessed August 23, 2013). 10 Charles Glaser, “Will China’s Rise Lead to War? Why...Indonesia, tunnels in Brazil, power grids in Cambodia, hydroelectric projects in Laos, bridges in Vietnam, roads in Zambia, factories in Malaysia

  12. Centrifuge modelling of capillary rise

    OpenAIRE

    Depountis, N.; DAVIES, MCR; Harris, C; Burkhart, S; THOREL, L; A. Rezzoug; Konig, D; Merrifield, C; CRAIG, WH

    2001-01-01

    This paper reports results from centrifuge tests designed to investigate capillary rise in soils subjected to different gravitational fields. The experimental programme is part of the EU-funded NECER project (Network of European Centrifuges for Environmental Geotechnic Research), whose objective is to investigate the appropriateness of geotechnical centrifuge modelling for the investigation of geoenvironmental problems, particularly with reference to partially saturated soils. The tests were ...

  13. Pricing-to-Market: Price Discrimination or Product Differentiation?

    OpenAIRE

    Lavoie, Nathalie; Liu, Qihong

    2004-01-01

    We employ a vertical differentiation model to examine the potential bias in pricing-to-market (PTM) results when using unit values aggregating differentiated products. Our results show that: i) false evidence of PTM (“pseudo PTM”) is always found when using unit values, whether the law of one price holds or not; and ii) the extent to which results are biased due to pseudo PTM increases with the level of product differentiation. Correspondingly, our simulation results suggest that: i) it is po...

  14. Capture market share, raise prices

    Directory of Open Access Journals (Sweden)

    Robbins RA

    2015-08-01

    Full Text Available No abstract available. Article truncated after 150 words. Two principles in medical economics central to the Affordable Care Act (ACA were dealt blows by recently published studies. The first principle is the belief that economies of scale will result in lower prices. The theory is that larger insurers will have lower prices because they are more administratively efficient. The second principle is that provider-owned health plans, usually hospitals, will reduce premiums. The theory is that by controlling doctors over charging health plans in a fee-for-service model will lower prices. The first study published in Technology Science found that the largest insurer in each of the states served by HealthCare.gov raised their prices in 2015 by an average of over 10 per cent compared to smaller competitors in the same market (1. Those steeper price hikes for monthly premiums did not seem warranted by the level of health claims which did not significantly differ as a percentage of premiums ...

  15. Transfer pricing and safe harbours

    Directory of Open Access Journals (Sweden)

    Veronika Solilová

    2013-01-01

    Full Text Available Transfer prices are significant for both taxpayers and tax administrations because they determine in large part taxable profits of associated enterprises in different tax jurisdictions. Moreover, in the context of taxation, transfer prices must be complied with the arm’s length principle. However, Multinational Enterprises have been faced daily by conflicting rules and approaches to applying the arm’s length principle, burdensome documentation requirements, inconsistent audit standards and unpredictable competent authority outcomes. Therefore, the Committee on Fiscal Affairs launched another project on the administrative aspects of transfer pricing in 2010. On 16 May 2013 as a partial solution of this project was approved by the OECD Council the Revised Section E on Safe Harbours in Chapter IV of the Transfer Pricing Guidelines for Multinational Enterprises and Tax Authorities. The paper is focused on significant changes of newly approved chapter IV of the Transfer Pricing Guidelines for Multinational Enterprises and Tax Authorities, further on analysis of practice in this area, on advantages and disadvantages of safe harbours for taxpayers and competent authorities with aim to suggest recommendations on use of safe harbours in the Czech Republic.

  16. Coastal sea level rise with warming above 2 degree

    Science.gov (United States)

    Jevrejeva, Svetlana; Jackson, Luke; Riva, Riccardo; Grinsted, Aslak; Moore, John

    2017-04-01

    Two degrees global warming above the pre-industrial level has been suggested as an appropriate threshold beyond which climate change risks become unacceptably high. This '2 degree' threshold is likely to be reached between 2040 and 2050 for both Representative Concentration Pathway (RCP) 8.5 and 4.5. Resulting sea level rises will not be globally uniform due to ocean dynamical processes and changes in gravity associated with water mass-redistribution. Here we provide probabilistic sea level rise projections for the global coastline with warming above the 2 degree goal. We demonstrate that by 2040 with two degree warming under the RCP8.5 scenario more than 90% of coastal areas will experience sea level rise exceeding the global estimate of 0.2 m, with up to 0.4 m expected along the Atlantic coast of North America and Norway. If warming continues above two degree, then by 2100 sea level will rise with speeds unprecedented throughout human civilization, reaching 0.9 m (median), and 80% of the global coastline will exceed the global ocean sea level rise upper 95% confidence limit of 1.8 m. Coastal communities of rapidly expanding cities in the developing world, small island states, and vulnerable tropical coastal ecosystems will have a very limited time after mid-century to adapt to sea level rises.

  17. Analysis of petroleum product prices in Pan Pacific regions. ; Supply and demand, price, and business development. Kantaiheiyo chiiki no sekiyu seihin kakaku no bunseki. ; Jukyu to kakaku jigyo tenkai

    Energy Technology Data Exchange (ETDEWEB)

    Takei, N. (The Institute of Energy Economics, Tokyo (Japan))

    1993-04-01

    This paper analyzes petroleum product prices in the Pan Pacific regions and summarizes correlation of demand and supply with prices. The paper, as a first analytic report, describes demand and supply, prices and business development. Considerations are given on trends in petroleum product prices from the aspect of spread (price difference). Spread is classified largely into price difference in crude oil and products, price difference in one merchandise due to different locations of transaction, and price difference due to calendar spreads. An advantage in the spread is easiness in assorting specific characteristics of particular merchandises, and conversely its problem is ambiguity in describing what causes the spread fluctuation. Observing the change in spreads between crude oil and products may lead to a conclusion that values have been rising in high sulfur and heavy gravity oils since 1991. High sulfur fuel oil (HSFO) value is on the rise in Singapore, but its reason cannot be known from what the demand and supply statics to date tells. One of the causes for value decline in low sulfur waxy residue (LSWR) lies in the Japanese import duty allotment system. Net back margin is decreasing worldwide, but its explanation is not available. This decrease is braking the movements of new installation and expansion of refining facilities. 22 figs., 7 tabs.

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

    NARCIS (Netherlands)

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

    2015-01-01

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

  19. Stock Price Reactions to M&A Market Events in Korea

    National Research Council Canada - National Science Library

    Yung San Kim

    2007-01-01

    .... Both these events abruptly ended the expectation that hostile takeovers will rise in Korea and lead to sharp price drops of the stocks of the firms deemed to be the primary targets of the first M&A wave in Korea...

  20. Boosting the predictive accuracy of urban hedonic house price models through airborne laser scanning

    NARCIS (Netherlands)

    Helbich, M.|info:eu-repo/dai/nl/370530349; Jochem, A.; Mücke, W.; Höfle, B.

    This paper introduces an integrative approach to hedonic house price modeling which utilizes high density 3D airborne laser scanning (ALS) data. In general, it is shown that extracting exploratory variables using 3D analysis – thus explicitly considering high-rise buildings, shadowing effects, etc.

  1. An ArcGIS analysis of Stand-alone GPS quality for Road Pricing

    DEFF Research Database (Denmark)

    Zabic, Martina

    2006-01-01

    quality and reliability is adequate for implementation of a road pricing system. The GPS log files was imported into ArcGIS and analyzed in relation to the digital road network and the density of the high rise areas in order to examine where the high buildings and narrow street canyons causes too many...

  2. Multinational Corporations and Stock Price Crash Risk

    Directory of Open Access Journals (Sweden)

    Anthony May

    2016-10-01

    Full Text Available A nascent literature in finance and accounting on tail risk in individual stock returns concludes that bad news hoarding by corporate managers engenders sudden, extreme crashes in a firm’s stock price when the bad news is eventually made public. This literature finds that firm-specific crash risk is higher among firms with more severe asymmetric information and agency problems. A hitherto disjointed literature spanning the fields of international business, finance, and accounting suggests that geographic dispersion in a firm’s operations, and especially dispersion across different countries, gives rise to organizational complexities and greater costs of monitoring that can exacerbate asymmetric information and agency problems. Motivated by the confluence of arguments and findings from these two strands of literature, this paper examines whether stock price crash risk is higher among multinational firms than domestic firms. Using a large sample of U.S. headquartered firms during 1987-2011, we find robust evidence that multinational firms are significantly more likely to crash than domestic firms. Moreover, we show that the difference in crash risk between multinational and domestic firms is most acute among firms with weaker corporate governance mechanisms, including weaker shareholder rights, less independent boards, and less stable institutional ownership. Our analysis indicates that stronger monitoring from each of these three governance mechanisms significantly attenuates the positive relation between crash risk and multinationality. Our findings are robust to the use of alternative measures of crash risk and to controlling for known determinants of crash risk identified in prior studies. Our study offers new insights that should hold value for scholars and market participants interested in understanding the implications of heighted agency problems that multinational firms are likely to encounter and scholars and market participants

  3. Assessment of Gasoline Prices and its Predictive Power on U.S. Consumers' Retail Spending and Savings

    Science.gov (United States)

    Alvarado-Bonilla, Joel

    The rising costs of fuels and specifically gasoline pose an economic challenge to U.S. consumers. Thus, the specific problem considered in this study was a rise in gasoline prices can reduce consumer spending, disposable income, food service traffic, and spending on healthy food, medicines, or visits to the doctor. Aligned with the problem, the purpose of this quantitative multiple correlation study was to examine the economic aspects for a rise in gasoline prices to reduce the six elements in the problem. This study consisted of a correlational design based on a retrospective longitudinal analysis (RLA) to examine gasoline prices versus the economic indexes of: (a) Retail Spending and (b) personal savings (PS). The RLA consisted on historic archival public data from 1978 to 2015. This RLA involved two separate linear multiple regression analyses to measure gasoline price's predictive power (PP) on two indexes while controlling for Unemployment Rate (UR). In summary, regression Formula 1 revealed Gasoline Price had a significant 61.1% PP on Retail Spending. In contrast, Formula 2 had Gasoline Price not having a significant PP on PS. Formula 2 yielded UR with 38.8% PP on PS. Results were significant at p<.01. Gasoline Price's PP on Retail Spending means a spending link to retail items such as: food service traffic, healthy food, medicines, and consumer spending. The UR predictive power on PS was unexpected, but logical from an economic view. Also unexpected was Gasoline Price's non-predictive power on PS, which suggests Americans may not save money when gasoline prices drop. These results shed light on the link of gasoline and UR on U.S. consumer's economy through savings and spending, which can be useful for policy design on gasoline and fuels taxing and pricing. The results serve as a basis for future study on gasoline and economics.

  4. Managing the Rising Costs and High Drug Expenditures in Critical Care Pharmacy Practice.

    Science.gov (United States)

    Flannery, Alexander H; Pandya, Komal; Laine, Melanie E; Almeter, Philip J; Flynn, Jeremy D

    2017-01-01

    Pharmaceutical costs for patients in the intensive care unit (ICU) constitute a large portion of hospital drug budgets. Unfortunately, prices for medications commonly used in the ICU are on the rise for a variety of reasons. In particular, the U.S. Food and Drug Administration's Unapproved Drugs Initiative, generic manufacturers cornering the marketplace, drug shortages, and regulatory device changes are major drivers of pharmaceutical price escalation affecting costs in the ICU. Furthermore, traditional high acquisition cost items still pose challenges to controlling costs. To offer strategies to mitigate the rising costs of pharmaceuticals in the ICU setting, we searched the PubMed/Medline and International Pharmaceutical Abstracts databases and other related sources to identify published cost-saving protocols concerning specific medications that are affected by rising prices or have traditional high acquisition costs. In the absence of specific protocols, we offer possible cost-saving initiatives based on published literature regarding specific agents or based on our own diverse set of experiences. Finally, we review suggested clinical and operational activities at an institutional level to address these rising drug costs in the ICU setting. © 2016 Pharmacotherapy Publications, Inc.

  5. Fire Sales and House Prices

    DEFF Research Database (Denmark)

    Andersen, Steffen; Meisner Nielsen, Kasper

    We exploit a natural experiment in Denmark to investigate when forced sales lead to fire sale discounts. Forced sales result from sudden deaths of house owners in an institutional environment in which beneficiaries are forced to settle the estate, and hence sell the house, within 12 months. We...... identify 6,329 forced sales by suddenly deceased house owners, and find that forced sales bring in lower prices than do comparable houses as the deadline winds down: We find no discounts for sales long before the deadline, and discounts of 12.5% for sales shortly before the deadline. Market conditions...... and the urgency of the sale also affect the average discount: Discounts are larger when house prices contract, in thin markets where demand is lower, and when the sale is more likely to be a fire sale because of financial or liquidity constraints. Late fire sales are more likely when the house price...

  6. Funds transfer pricing in banking

    Directory of Open Access Journals (Sweden)

    Maria CARACOTA DIMITRIU

    2010-06-01

    Full Text Available Every bank needs to better understand the sources of its profitability. Whatever the size of the bank, funds transfer pricing (FTP can be used to help managing the bank's profitability by analyzing earnings for the whole institution or for different profit centers. In today’s banking environment, it is essential to look at the earnings both as a whole and broken down into various components. Funds Transfer Pricing is an analysis tool that can be used to help a bank measure its profitability in a variety of different ways. It allows management to compare the profitability of different product lines within the company, and it can be drilled down even further to allow comparison between individual employees. It is also very useful for comparison between branches. This study will reveal the role of Fund Transfer Pricing (FTP in banks.

  7. Analysis of Cryptocurrencies Price Development

    Directory of Open Access Journals (Sweden)

    Jan Lansky

    2016-12-01

    Full Text Available Cryptocurrencies are a type of digital currencies based on cryptography principles. Cryptocurrencies are a unique combination of three characteristics: they provide anonymity, they are independent of central authority and they provide protection from double spending attack. The aim of this paper is to capture trends in the area of significant cryptocurrencies price developments and to explain their causes. The current research in this area is exclusively limited to an analysis of the price developments of the most important Bitcoin cryptocurrency; our research is the first to focus on other cryptocurrencies too. The economic perspective on cryptocurrencies is based on IT knowledge regarding the principles of their functioning. We have created a database of prices of 1278 cryptocurrencies from 2013 to 2016. This database is publicly available. To analyse the data, SQL query language was used.

  8. Response of the Polish Wheat Prices to the Worlds Crude Oil Prices

    Directory of Open Access Journals (Sweden)

    HAMULCZUK

    2012-07-01

    Full Text Available Agricultural commodities prices play crucial role both in farmers income determination and in price relationship establishment for the whole economy. Among the factors influencing the wheat prices, crude oil prices are considered as one of the most important. The aim of this paper was to assess the character of linkage between world crude oil prices and Polish wheat prices. Results of the research confirm the existence of such linkage although the nature and the strength of this relationship changes over time. However, the long-run relationships between the crude oil and Polish wheat prices were not proven. Moreover, growing impact of crude oil prices on Polish wheat prices over time was not detected. The results suggest that exchange rates may strongly influence wheat prices. This in turn may weaken response of Polish wheat prices in relation to world crude oil prices.

  9. POLISH FARM MACHINERY MARKET AFTER ACCESSION TO THE EUROPEAN UNION – PRICES OF MEANS OF AGRICULTURAL MECHANIZATION

    Directory of Open Access Journals (Sweden)

    Jan Pawlak

    2014-12-01

    Full Text Available VAT for farm machinery has been increased from 0 to 22% level since the accession to the EU. This was a main reason for rise in prices of a set of 34 farm machines which in June 2004 was by 28.1% higher than a year earlier. Thanks to the decrease in prices of the most expensive farm machines – harvester threshers, during the years 2006--2009 the price level was quite stable, even though prices of most machines rose. From 2010 moderate, but generally higher than the inflation rate rise in price of the set was observed. During the years 2003-2013 the price of the set of 34 farm machines grew more expensive by 66.7%, whilst the inflation index increased by 32.6%. In 2004, 2005, 2010 and 2013 the rate of increase of prices of farm machines was higher than dynamics of the inflation index (relatively by 16.8, 15.5, 3.5 and 3.1 per cent points. In spite of machinery price growth, the equivalent of the set of 34 machines in form of mass or volume of swine and cattle for slaughter, wheat, milk and potato was in 2013 by 1.0 to 33.3% lower than in 2003. The above mentioned set as related to the unit of mass of rye and sugar beet was by 4.1 and 40.3% more expensive.

  10. Progressive mobilization of oil resources: a factor in ensuring moderate price rises. Part 1

    Energy Technology Data Exchange (ETDEWEB)

    Desprairies, P.C.; Boy de la Tour, X. Lacour, J.J.

    1985-12-01

    The first part of this paper establishes the regional distribution of ultimate resources of conventional oil and assesses the size of future discoveries and their share in the renewal of world oil resources. The authors use a synthesis of seven recent studies as their starting point. This analysis suggests that in the long run, it will be difficult to bring about a significant and durable reduction in the importance of the Arabo-Persian Gulf on the international petroleum scene. The study also presents a tentative breakdown of ultimate oil resources in terms of production costs, proven reserves, future discoveries and additional quantities, directly arising from technical and cost progress in enhanced oil recovery methods. The authors conclude that the Middle East and planned economy countries account for nearly 60% of ultimate oil reserves exploitable at a cost of less that $20/bbl, and that more than half of the resources available in the rest of the world are exploitable at more than $12/bbl. 10 tables.

  11. Why do prices rise faster than they fall? : with an application to mortgage rates

    NARCIS (Netherlands)

    Toolsema-Veldman, Linda; Jacobs, J.P.A.M.

    2001-01-01

    Abstract There have been a variety of studies investigating the relative importance of structural change and real intensity change to the change in China’s energy consumption in the 1980s. However, no detailed analysis to date has been done to examine whether or not the increased energy efficiency

  12. Art Pricing and the Nigerian Economy, 1960-2008; the Rising Profile ...

    African Journals Online (AJOL)

    From the 1980s to 1990s, despite the negative factors prevalent as a result of corruption and mismanagement in the nation, sale of art works was favoured by an astronomical growth in local clientele.. Although Ben Enwonwu, Nigeria's foremost modernist artist opined in 1966 (Ekwensi, 1966; 36) that for a piece of painting ...

  13. Biofuel and Food-Commodity Prices

    Directory of Open Access Journals (Sweden)

    David Zilberman

    2012-09-01

    Full Text Available The paper summarizes key findings of alternative lines of research on the relationship between food and fuel markets, and identifies gaps between two bodies of literature: one that investigates the relationship between food and fuel prices, and another that investigates the impact of the introduction of biofuels on commodity-food prices. The former body of literature suggests that biofuel prices do not affect food-commodity prices, but the latter suggests it does. We try to explain this gap, and then show that although biofuel was an important contributor to the recent food-price inflation of 2001–2008, its effect on food-commodity prices declined after the recession of 2008/09. We also show that the introduction of cross-price elasticity is important when explaining soybean price, but less so when explaining corn prices.

  14. Price competition in the Chinese pharmaceutical market.

    Science.gov (United States)

    Wang, Y Richard

    2006-06-01

    We study price competition between high-quality global products and low-quality local products in a developing country, i.e., China, Nearly all previous studies on pharmaceutical price competition focused on developed countries with bioequivalent generics. In China, local generic products are not bioequivalent and are deemed of lower quality, while global products in the same class are considered similar in quality and better substitutes. We hypothesize that local generic competition drives down local product price but not global product price. In addition, we hypothesize that therapeutic competition among similar global products lowers global product price. Our empirical results support both hypotheses. Number of local generic competitors has a significantly negative effect on local product price but no effect on global product price, while number of global therapeutic competitors has a significantly negative effect on global product price. Policy changes that encourage bioequivalent local products and accelerate global product approvals will enhance price competition in China.

  15. Motor fuel prices in Turkey

    OpenAIRE

    Erdogdu, Erkan

    2013-01-01

    The world’s most expensive motor fuel (gasoline, diesel and LPG) is sold most likely in the Republic of Turkey. This paper investigates the key issues related to the motor fuel prices in Turkey. First of all, the paper analyses the main reason behind high prices, namely motor fuel taxes in Turkey. Then, it estimates the elasticity of motor fuel demand in Turkey using an econometric analysis. The findings indicate that motor fuel demand in Turkey is quite inelastic and, therefore, not responsi...

  16. Asset Pricing with Liquidity Risk

    OpenAIRE

    Acharya, Viral V.; Lasse Heje Pedersen

    2004-01-01

    This Paper solves explicitly a simple equilibrium asset pricing model with liquidity risk – the risk arising from unpredictable changes in liquidity over time. In our liquidity-adjusted capital asset pricing model, a security’s required return depends on its expected liquidity as well as on the covariances of its own return and liquidity with market return and market liquidity. In addition, the model shows how a negative shock to a security’s liquidity, if it is persistent, results in low con...

  17. Styring af international transfer pricing

    DEFF Research Database (Denmark)

    Reuther, Peter; Rossing, Christian Plesner

    2011-01-01

    Nærværende artikel introducerer international transfer pricing, dels som et skatteretligt fænomen og dels som et værktøj til planlægning og økonomisk styring af koncernforbundne selskaber i en multinational virksomhed (MNV). Med udgangspunkt i en case-analyse af MNV’en gives der et konkret eksempel...... international transfer pricing i betragtning, når økonomiske styringssystemer i en MNV skal anvendes til planlægning og opfølgning....

  18. 'Pricing Nature at What Price?' A study of undergraduate students ...

    African Journals Online (AJOL)

    The results show that, among a group of 11 students entering a masters course on Sustainable Enterprising at Stockholm University, a majority of the students having a major in the natural sciences found economics to be challenging in various ways. All the students addressed the concept of 'price' as particularly ...

  19. Smart Pricing: Linking Pricing Decisions with Operational Insights

    NARCIS (Netherlands)

    M. Fleischmann (Moritz); J.M. Hall (Joseph); D.F. Pyke (David)

    2003-01-01

    textabstractThe past decade has seen a virtual explosion of information about customers and their preferences. This information potentially allows companies to increase their revenues, in particular since modern technology enables price changes to be effected at minimal cost. At the same time,

  20. [Professional opportunities for nurses with the rise in pathway coordinator posts].

    Science.gov (United States)

    Hénaut, Léonie; Bloch, Marie-Aline

    2016-06-01

    The rapid rise in the number of coordinator posts offers nurses new career and training opportunities. It could also favour a rise in skill levels within the profession and help to transform relations between health care professionals. Copyright © 2016. Published by Elsevier Masson SAS.

  1. Understanding Price Controls and Non-Price Competition with Matching Theory

    OpenAIRE

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

    2012-01-01

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

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

    Science.gov (United States)

    Verlinda, Jeremy Alan

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

  3. Consumer price sensitivity and social health insurer choice in Germany and The Netherlands.

    Science.gov (United States)

    Schut, Frederik T; Gress, Stefan; Wasem, Juergen

    2003-06-01

    In this paper, we examine the effects of the introduction of free choice and price competition in social health insurance in Germany and the Netherlands. Using panel data at the sickness fund level we estimate the price elasticity of sickness fund choice in both countries. We find that the price elasticity in Germany is high and rapidly increasing. Consistent with findings of other studies on health plan choice, the price elasticity is much lower for elderly than for non-elderly. In the Netherlands, by contrast, the price elasticity of fund choice is negligible. Only when people were forced to choose a sickness fund, they were quite sensitive to premium differences. Key factors in explaining the observed differences in switching behavior between both countries are the degree of financial risk for sickness funds, the features of the risk-adjustment mechanism and the role of employers.

  4. Research on Congestion Pricing in Multimode Traffic considering Delay and Emission

    Directory of Open Access Journals (Sweden)

    Hongna Dai

    2015-01-01

    Full Text Available Rapid development of urbanization and automation has resulted in serious urban traffic congestion and air pollution problems in many Chinese cities recently. As a traffic demand management strategy, congestion pricing is acknowledged to be effective in alleviating the traffic congestion and improving the efficiency of traffic system. This paper proposes an urban traffic congestion pricing model based on the consideration of transportation network efficiency and environment effects. First, the congestion pricing problem under multimode (i.e., car mode and bus mode urban traffic network condition is investigated. Second, a traffic congestion pricing model based on bilevel programming is formulated for a dual-mode urban transportation network, in which the delay and emission of vehicles are considered. Third, an improved mathematical algorithm combining successive average method with the genetic algorithm is proposed to solve the bilevel programming problem. Finally, a numerical experiment based on a hypothetical network is performed to validate the proposed congestion pricing model and algorithm.

  5. Wood fuel markets in Northern Europe. Price formation and internationalization

    Energy Technology Data Exchange (ETDEWEB)

    Olsson, Olle

    2012-07-01

    High fossil fuel prices and ambitions to reduce greenhouse gas emissions have increased demand for renewable energy and are changing wood fuel market structures. Wood fuels are to a rapidly growing degree used in industrial proportions and traded in commercial markets. Wood fuels are seen as a key component to achieve policy goals related to climate change, especially in the EU. In the six papers that form the basis for this thesis, prices of wood fuels in Northern Europe are analyzed by means of time series analysis to increase understanding about the factors that govern market development. In Paper I, it is found that whereas the Austrian and German residential-quality wood pellet markets are integrated, Sweden is a separate market. The conclusion from Paper II is that despite a long history of trade in wood fuels between Estonia and Sweden, the two markets cannot be considered integrated. The results from Paper III indicate that refined and unrefined wood fuels should be seen as two separate markets, and that forest chips prices follow different trajectories depending on whether they are used in district heating or in forest industries. In Paper IV, it is acknowledged that although high and volatile oil prices are an important driver for the growth in demand for wood fuels, no significant spillover from oil price developments into Swedish wood fuel prices could be discerned in the time period 1993-2010. In Paper V, the conclusion is that prices of industrial roundwood and unrefined wood fuels followed a common trend in Sweden in the first decade of the 21st century. Paper VI shows that there is a significantly higher level of market maturity and internationalization in the Danish wood pellet market compared to the wood chip market in the country. In conclusion, this thesis uncovers some of the mechanisms that affect wood fuel markets, including the differences between unrefined wood fuels - such as wood chips - and the dynamic market for wood pellets. Whereas

  6. Spatial price dynamics: From complex network perspective

    Science.gov (United States)

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

    2008-10-01

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

  7. Regulated and unregulated Nordic retail prices

    DEFF Research Database (Denmark)

    Olsen, Ole Jess; Johnsen, Tor Arnt

    2011-01-01

    in Sweden but higher than in Norway and Finland. Because of market design Norwegian default contracts are competitive whereas Swedish contracts provide the retailer with some market power. We interpret the low Finnish margins as a result of municipal retailers continuing traditional pricing from...... competitive prices....... default prices are regulated whereas default prices in the other countries are unregulated. Systematic price differences exist among the Nordic countries. However, as wholesale prices sometimes differ the gross margin is a more relevant indicator. Regulated gross margins are lower in Denmark than...

  8. Revisiting super-cycles in commodity prices

    Directory of Open Access Journals (Sweden)

    Fatma Pınar Erdem

    2016-12-01

    Full Text Available It is argued that business cycles have been moderating. However, there are a limited number of studies in the literature analyzing the cyclical behaviour of commodity prices in the last decades. This paper attempts to fill this gap by investigating the super-cycles in oil prices. In addition, interdependence between cycles in GDP and oil prices and co-movements between cycles in oil and other commodity prices are investigated. Results show that super-cycles in oil prices still exist and are not moderating. The last peak in long-term oil price was observed in 2012 and since then it has been on a downward trend.

  9. Oil price shocks and GCC capital markets: who drives whom?

    OpenAIRE

    Rizvi, Aun; Masih, Mansur

    2014-01-01

    Global reliance on Hydrocarbon sector has dramatically increased multi-fold which has led to rise to dominance of GCC. GCC is home to 45% of the proven oil reserves and contributes nearly 35% of the world oil exports annually. With such heavy reliance of the world on GCC for its oil produce, and the GCC’s economic reliance on Oil and Gas exports, the matter of world oil price shocks and its transmission to other areas of economy is of immense importance to the GCC economies. With Oil wealth a...

  10. Trade policy responses to food price crisis and implications for existing domestic support measures

    DEFF Research Database (Denmark)

    Yu, Wusheng; Jensen, Hans Grinsted

    2014-01-01

    jointly moderated rises of domestic grain prices. In particular, domestic and trade measures on key agricultural inputs such as fertilizers are shown to contribute significantly to expand grain outputs and reduce domestic market prices. While the short-term goal in stabilizing domestic grain prices......Many national governments around the world applied export restrictions in order to achieve domestic market stabilization during the 2007/8 world food price crisis. However, current literature says little about how these export restrictions interact with existing domestic support measures in jointly...... determining domestic market outcomes. This paper analyzes this interaction by providing a quantitative assessment on how increased spending on agricultural domestic support in China offset the negative effects on grain production caused by the country's export restrictions and how these two types of measures...

  11. Relationships among energy price shocks, stock market, and the macroeconomy: evidence from China.

    Science.gov (United States)

    Cong, Rong-Gang; Shen, Shaochuan

    2013-01-01

    This paper investigates the interactive relationships among China energy price shocks, stock market, and the macroeconomy using multivariate vector autoregression. The results indicate that there is a long cointegration among them. A 1% rise in the energy price index can depress the stock market index by 0.54% and the industrial value-adding growth by 0.037%. Energy price shocks also cause inflation and have a 5-month lag effect on stock market, which may result in the stock market "underreacting." The energy price can explain stock market fluctuations better than the interest rate over a longer time period. Consequently, investors should pay greater attention to the long-term effect of energy on the stock market.

  12. 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.

  13. Analysis of Price Changes in Washington Following the 2012 Liquor Privatization.

    Science.gov (United States)

    Kerr, William C; Williams, Edwina; Greenfield, Thomas K

    2015-11-01

    In June, 2012 the state of Washington ended a wholesale and retail monopoly on liquor sales resulting in about five times as many stores selling liquor. Three-tier restrictions were also removed on liquor, while beer and wine availability did not increase. Substantial taxes at both the wholesale and retail levels were implemented and it was expected that prices would rise. To evaluate price changes after privatization we developed an index of about 68 brands that were popular in Washington during early 2012. Data on final liquor prices (including all taxes) in Washington were obtained through store visits and on-line sources between November 2013 and March of 2014. Primary analyses were conducted on five or six brand indexes to allow the inclusion of most stores. Washington liquor prices rose by an average of 15.5% for the 750 ml size and by 4.7% for the 1.75 l size, while only small changes were seen in the bordering states of Oregon and Idaho. Prices were found to vary greatly by store type. Liquor Superstores had generally the lowest prices while drugstore, grocery and especially smaller Liquor Store prices were found to be substantially higher. Our findings indicate that liquor prices in Washington increased substantially after privatization and as compared to price changes in bordering states, with a much larger increase seen for the 750 ml size and with wide variation across store types. However, persistent drinkers looking for low prices will be able to find them in certain stores. © The Author 2015. Medical Council on Alcohol and Oxford University Press. All rights reserved.

  14. A Study on the Current Oil and Gas Price Formula and Its Improvement

    Energy Technology Data Exchange (ETDEWEB)

    Park, Chang Won; Lee, Young Koo [Korea Energy Economics Institute, Euiwang (Korea)

    2000-12-01

    The object of this study is to suggest some improvements on current price formulas on oil and gas which have been pivotal roles in the process of Korean economic growth. This study first examines basic frames and transition of oil and gas pricing in Korea and then finds some suggestions on them by scrutinizing their theoretical backgrounds. This study finds several problems on oil and gas pricing formulas. (a) In a model that is now studied to evaluate the current domestic oil price, the costs associated with oil security such as oil stockpile are fully penetrated into oil price without their fair evaluations. There is no evaluation principle on the costs occurred in oil supply security. (b) The Rate Of Equity(ROE), a crucial factor in town-gas pricing which is strictly controlled, is directly connected to the average interest rate on saving accounts of domestic commercial banks. Some arguments may have rise about inclusion a risk factor on ROE in order to compensate the uncertainty of town-gas business. (c) New demand for natural gas which is generated by new technologies or machinery and tools can help reduce the costs occurred from seasonal imbalance between power sector and gas sector. So it is also important to decide how to include the beneficiary of cost reduction in town-gas pricing. In order to evaluate the proper price levels, this study tests energy supply security by adopting methodologies such as Herfindahl Index and Portfolio Variance Risk. They can help develop the method to effectively improve the energy security and include the proper energy security costs into energy prices. This study also provides some suggestions for betterment of current ROE decision rule in town-gas business and for improvement of current town-gas policy that government subsidizes newly developed demand for strengthening price competitiveness in the early stage. (author). 145 refs., 16 figs., 49 tabs.

  15. Bundle pricing with comparable items

    NARCIS (Netherlands)

    Grigoriev, Alexander; van Loon, Joyce; Sviridenko, Maxim; Uetz, Marc Jochen; Vredeveld, Tjark; Arge, L.; Hoffmann, M.; Welzl, E.

    2007-01-01

    We consider a revenue maximization problem where we are selling a set of items, each available in a certain quantity, to a set of bidders. Each bidder is interested in one or several bundles of items. We assume the bidders’ valuations for each of these bundles to be known. Whenever bundle prices are

  16. House Prices and Public Debt

    DEFF Research Database (Denmark)

    Gjedsted Nielsen, Mads; Rzeznik, Aleksandra

    By using the 2002 case of fraud in the Danish municipality Farum by then mayor Peter Brixtofte as an exogenous shock to public debt of 1 billion DKK, I estimate the effect of public debt on house prices. I find that the average home ownership lost about 570,000 DKK or as much as 29% of the average...

  17. Pricing Policies in Academic Libraries.

    Science.gov (United States)

    King, Donald W.

    1979-01-01

    Economic considerations of user charges are presented along with economic principles and implications of charging for specific library materials and services. Alternative pricing policies and their implications are described, and, to illustrate the complexity and subtle effects of charging, a numerical example for interlibrary loans is also given.…

  18. Restaurant no 2: Price increases

    CERN Document Server

    2005-01-01

    Please note that the new price of the menus will be from now: Menu a) 8.20 CHF Menu b) 9.40 CHF Please note the modified opening times of the Restaurant, from 7:00 to 17:30 in winter. In summer, the closure will be at 18:00. Restaurant no2

  19. Generics Pricing: The Greek Paradox.

    Science.gov (United States)

    Karafyllis, Ioannis; Variti, Lamprini

    2017-01-01

    This paper explains and develops a methodological framework to help evaluate the performance of generic pharmaceutical policies and the correct evaluation of generics sales. Until today erroneous recording of generics does not help proper pricing and their penetration in the Greek market. This classifies Greece on the outliners in every study or comparison that is referred on papers or studies.

  20. Higher fuel and food prices

    DEFF Research Database (Denmark)

    Arndt, Channing; Benfica, Rui; Maximiano, Nelson

    2008-01-01

    analysis indicates that urban households and households in the southern region are more vulnerable to food price increases. Rural households, particularly in the North and Center, often benefit from being in a net seller position. Longer-term analysis using a computable general equilibrium (CGE) model...