WorldWideScience

Sample records for refined product prices

  1. Price Relationships in the Petroleum Market: An Analysis of Crude Oil and Refined Product Prices

    International Nuclear Information System (INIS)

    Asche, Frank; Gjoelberg, Ole; Voelker, Teresa

    2001-08-01

    In this paper the relationships between crude oil and refined product prices are investigated in a multivariate framework. This allows us to test several (partly competing) assumptions of earlier studies. In particular, we find that the crude oil price is weakly exogenous and that the spread is constant in some but not all relationships. Moreover, the multivariate analysis shows that the link between crude oil prices and several refined product prices implies market integration for these refined products. This is an example of supply driven market integration and producers will change the output mix in response to price changes. (author)

  2. Price relationships in the petroleum market. An analysis of crude oil and refined product prices

    International Nuclear Information System (INIS)

    Asche, Frank; Gjoelberg, Ole; Volker, Teresa

    2003-01-01

    In this paper the relationships between crude oil and refined product prices are investigated in a multivariate framework. This allows us to test several (partly competing) assumptions of earlier studies. In particular, we find that the crude oil price is weakly exogenous and that the spread is constant in some but not all relationships. Moreover, the multivariate analysis shows that the link between crude oil prices and several refined product prices implies market integration for these refined products. This is an example of supply driven market integration and producers will change the output mix in response to price changes

  3. Price relationships in the petroleum market: an analysis of crude oil and refined product prices

    International Nuclear Information System (INIS)

    Asche, F.; Gjoelberg, O.; Voelker, T.

    2003-01-01

    In this paper the relationships between crude oil and refined product prices are investigated in a multivariate framework. This allows us to test several (partly competing) assumptions of earlier studies. In particular, we find that the crude oil price is weakly exogenous and that the spread is constant in some but not all relationships. Moreover, the multivariate analysis shows that the link between crude oil prices and several refined product prices implies market integration for these refined products. This is an example of supply driven market integration and producers will change the output mix in response to price changes. (author)

  4. Causes for an asymmetric relation between the price of crude oil and refined petroleum products

    International Nuclear Information System (INIS)

    Kaufmann, R.K.; Laskowski, C.

    2005-01-01

    We revisit the issue of asymmetries in the relation between the price of crude oil and refined petroleum products in the United States. An econometric analysis of monthly data indicates that the asymmetric relationship between the price of crude oil and motor gasoline is generated by refinery utilization rates and inventory behavior. The asymmetric relation between the price of crude oil and home heating oil probably is generated by contractual arrangements between retailers and consumers. Together, these results imply that price asymmetries may be generated by efficient markets. Under these conditions, there is little justification for policy interventions to reduce or eliminate price asymmetries in motor gasoline and home heating oil markets. (author)

  5. Nonlinear joint dynamics between prices of crude oil and refined products

    Science.gov (United States)

    Zhang, Tao; Ma, Guofeng; Liu, Guangsheng

    2015-02-01

    In this paper, we investigate the relationships between crude oil and refined product prices. We find that nonlinear correlations are stronger in the long-term than in the short-term. Crude oil and product prices are cointegrated and financial crisis in 2007-2008 caused a structural break of the cointegrating relationship. Moreover, different from the findings in most studies, we reveal that the relationships are almost symmetric based on a threshold error correction model. The so-called 'asymmetric relationships' are caused by some outliers and financial crisis. Most of the time, crude oil prices play the major role in the adjustment process of the long-term equilibrium. However, refined product prices dominated crude oil prices during the period of financial crisis. Important policy and risk management implications can be learned from the empirical findings.

  6. Oil industry consolidation and refined product prices. Evidence from US wholesale gasoline terminals

    International Nuclear Information System (INIS)

    Kendix, Michael; Walls, W.D.

    2010-01-01

    Our objective in this paper is to quantify the impact of petroleum industry consolidation on refined product prices, controlling for other important factors that could also impact prices. Our empirical analysis focuses on the US petroleum refining industry using data on industry consolidation and wholesale gasoline prices collected over the interval 2000-2008. We match refinery units to wholesale city-terminal gasoline markets, and then estimate pooled cross-section time-series regressions to quantify the impact of petroleum industry consolidation on wholesale gasoline prices at city-specific terminals. The results of the empirical analysis of mergers are mixed, showing that some petroleum industry mergers resulted in statistically significant increases in refined product prices; others resulted in statistically significant declines and still others had no statistical impact at all. Our analysis of the effects of measures of market concentration - one at the level of city-specific wholesale terminals and another at the level of regional spot markets - found evidence that less concentrated markets are associated with lower price levels. (author)

  7. Reform of refined oil product pricing mechanism and energy rebound effect for passenger transportation in China

    International Nuclear Information System (INIS)

    Lin, Boqiang; Liu, Xia

    2013-01-01

    Improving energy efficiency is the primary method adopted by the Chinese government in an effort to achieve energy conservation target in the transport sector. However, the offsetting effect of energy rebound would greatly reduce its real energy-saving potentials. We set up a Linear Approximation of the Almost Ideal Demand System Model (LA-AIDS model) to estimate the rebound effect for passenger transportation in China. Real energy conservation effect of improving energy efficiency can also be obtained in the process. The result shows that the rebound effect is approximately 107.2%. This figure signifies the existence of ‘backfire effect’, indicating that efficiency improvement in practice does not always lead to energy-saving. We conclude that one important factor leading to the rebound effect, is the refined oil pricing mechanism. China's refined oil pricing mechanism has been subjected to criticism in recent years. The results of simulation analysis show that the rebound could be reduced to approximately 90.7% if the refined oil pricing mechanism is reformed. In this regard, we suggest further reforms in the current refined oil pricing mechanism. - Highlights: ► We set up the LA-AIDS model to estimate traffic service demand for urban residents. ► The size of the rebound effect for passenger transportation in China is evaluated. ► The rebound effect for passenger transportation in China is 107.2%. ► Reform of oil pricing could reduced the rebound to 90.7%. ► Reform of oil pricing might be an effective method for mitigating rebound effect

  8. Price implications for Russia's oil refining

    International Nuclear Information System (INIS)

    Khartukov, Eugene M.

    1998-01-01

    Over the past several years, Russia's oil industry has undergone its radical transformation from a wholly state-run and generously subsidized oil distribution system toward a substantially privatized, cash-strapped, and quasi-market ''petropreneurship''. This fully applies to the industry's downstream sector. Still unlike more dynamic E and C operations, the country's refining has turned out better fenced off competitive market forces and is less capable to respond to market imperatives. Consequently, jammed between depressed product prices and persistent feedstock costs, Russian refiners were badly hit by the world oil glut - which has made a radical modernization of the obsolete refining sector clearly a must. (author)

  9. Oil price scenarios and refining profitability

    International Nuclear Information System (INIS)

    Sweeney, B.

    1993-01-01

    Currently refining profitability is low because there has been an overbuilding of conversion capacity in Western Europe in the last round. Oil marketing, the chemicals business and the fundamental economy itself are at low points in their cycles which have not coincided, at least in the UK, since 1975. Against that gloomy background, it is predicted that downstream profitability will recover in the mid-1990s. Crude oil prices will remain low until the call on OPEC crude increases again and takes up the capacity which has been brought on stream in response to the Gulf War. When this happens, it is likely to trigger another price spike and another round of investment in production capacity. Environmentally driven investments in desulphurisation or emissions reduction will be poorly remunerated all the way through the value chain. Refining margins will recover when white oil demand growth tightens up the need for conversion capacity. Marketing will need to reduce the retail network overcapacity in the mature markets if it is to improve its profitability. In this period of low profitability, even with the light at the end of the tunnel for refiners in the middle of the decade, the industry structure is under threat. There is a strong argument for new modes of competitive behaviour which are backed by strong elements of cooperation. (author)

  10. Refining prices and margins in 1998

    International Nuclear Information System (INIS)

    Favennec, J.P.; Baudoin, C.

    1999-01-01

    Despite a business environment that was globally mediocre due primarily to the Asian crisis and to a mild winter in the northern hemisphere, the signs of improvement noted in the refining activity in 1996 were borne out in 1997. But the situation is not yet satisfactory in this sector: the low return on invested capital and the financing of environmental protection expenditure are giving cause for concern. In 1998, the drop in crude oil prices and the concomitant fall in petroleum product prices was ultimately rather favorable to margins. Two elements tended to put a damper on this relative optimism. First of all, margins continue to be extremely volatile and, secondly, the worsening of the economic and financial crisis observed during the summer made for a sharp decline in margins in all geographic regions, especially Asia

  11. Investment in exploration-production and refining 2015

    International Nuclear Information System (INIS)

    Maisonnier, G.; Hureau, G.; Serbutoviez, S.; Silva, C.

    2016-01-01

    IFPEN analyses in this study the 2015 evolution of global investment in the field of exploration-production and refining: - Changes in oil and gas prices; - Investment in Exploration/Production: the end of an upward cycle; - Drilling and the global drilling market, upstream activities and markets; - 2015, a breath of fresh air for refining

  12. New product pricing

    International Nuclear Information System (INIS)

    Wilkinson, V.K.

    1981-01-01

    One of the most uncertain elements in budget planning is estimating production costs of items that have heretofore only been produced in prototype configurations and quantities. This paper examines the design and development of a mathematical model which computes appropriate prices for new and unique products. The resulting model offers a producer a fair return on his investment and the consumer a fair purchase price

  13. Direm prices, prices and margins of petroleum products in France and in the European Union

    International Nuclear Information System (INIS)

    2005-01-01

    This document presents in a series of graphics and tables, the evolution of petroleum products prices and margins in France and in the European Union: crude oil prices, Rotterdam's petroleum products quotation, raw brent refining margin, automotive and domestic fuel prices. (J.S.)

  14. Investment in Exploration-Production and Refining - 2016

    International Nuclear Information System (INIS)

    Maisonnier, Guy; Hureau, Geoffroy; Serbutoviez, Sylvain; Silva, Constancio

    2017-03-01

    IFPEN analyses in this study the 2016 evolution of global investment in the field of exploration-production and refining: - Trends in oil and gas prices; - Investment in exploration/production: in sharp decline for the second consecutive year - the first time this has happened since 1986; - The global drilling market; - Geophysical: global activity and markets; - Offshore construction: market and business; - A significant reduction in refining projects (atmospheric distillation and conversion)

  15. Oil refining and product marketing developments in southeast Asia

    International Nuclear Information System (INIS)

    Szabo, A.M.

    1992-01-01

    Views on the future are based on supplies from a relatively stable Middle East and continued economic growth in the southeast Asian and Pacific countries. Under these circumstances the oil market for the Association of Southeast Asian Nations (ASEAN) will expand considerably during the decade of the 90's. Pacific country demand, 5.92 MMB/D, in 1990 is likely to grow to 7.06 MMB/D in 2000. Regional production could supply about 40% of this. The Asia-Pacific shortage of refining capacity could lead to high regional refined product prices and health refining profit margins. (author)

  16. Linkages between the markets for crude oil and the markets for refined products

    International Nuclear Information System (INIS)

    Didziulis, V.S.

    1990-01-01

    To understand the crude oil price determination process it is necessary to extend the analysis beyond the markets for petroleum. Crude oil prices are determined in two closely related markets: the markets for crude oil and the markets for refined products. An econometric-linear programming model was developed to capture the linkages between the markets for crude oil and refined products. In the LP refiners maximize profits given crude oil supplies, refining capacities, and prices of refined products. The objective function is profit maximization net of crude oil prices. The shadow price on crude oil gives the netback price. Refined product prices are obtained from the econometric models. The model covers the free world divided in five regions. The model is used to analyze the impacts on the markets of policies that affect crude oil supplies, the demands for refined products, and the refining industry. For each scenario analyzed the demand for crude oil is derived from the equilibrium conditions in the markets for products. The demand curve is confronted with a supply curve which maximizes revenues providing an equilibrium solution for both crude oil and product markets. The model also captures crude oil price differentials by quality. The results show that the demands for crude oil are different across regions due to the structure of the refining industries and the characteristics of the demands for refined products. Changes in the demands for products have a larger impact on the markets than changes in the refining industry. Since markets for refined products and crude oil are interrelated they can't be analyzed individually if an accurate and complete assessment of a policy is to be made. Changes in only one product market in one region affect the other product markets and the prices of crude oil

  17. DIREM's prices. Prices and margins of petroleum products in France and in the European Union

    International Nuclear Information System (INIS)

    2002-08-01

    This report presents in a series of graphs and tables the prices and margins of petroleum products in France and in the European Union (EU) according to the data compiled by the Direction of energy and mineral resources (DIREM) of the French general direction of energy and raw materials (DGEMP, Ministry of economy, finances and industry): evolution of crude prices, evolution of Rotterdam's quotation of petroleum products, raw margin of brent refining, French fuel prices (automotive and domestic fuels, evolution, comparison with EU and Rotterdam's prices), comparison with prices in other European countries, evolution of average retail prices in France. (J.S.)

  18. PRICING STRATEGY FOR DIGITAL PRODUCTS

    Directory of Open Access Journals (Sweden)

    MARIA MAGDALENA CRIVEANU

    2018-02-01

    Full Text Available The current society imposes an alert pace on companies that need to adapt to change, become more flexible and adopt new strategies to maintain market share. Digital marketing is a useful tool for promoting products, as customers can access a range of product information at any time and from anywhere. At the same time, another advantage on the part of companies is the lower promotion costs as compared to traditional promotional methods, as well as the establishment of a connection and a communication bridge with each client. The most important component in the process of purchasing a product is inevitably the price. It communicates a series of information about the product and the customer so that the price can be an important element of persuasion in relation to other marketing strategies. Most of the time, the smallest price is the most important factor in making a decision about buying a product, and digital marketing offers the posibility to compare prices. In this sense, digital marketing can provide both an advantage and a disadvantage for traders, as the small price may invalidate other marketing strategies or product features. In this sense, pricing is a challenge for marketing departments because the pricing strategy is deferring from the sterile formula of pricing which meant covering costs and making profit. This paper aims to analyze the extent to which price is an important element in purchasing a product, as well as highlighting a variety of methods and techniques used in pricing. Quantitative research is based on a questionnaire applied to 100 respondents in order to identify the correct pricing strategy. Research results communicate an important message to merchants who have to adjust the price of each buyer individually, so that the buyer profile is particularly important in setting the price.

  19. Investment in exploration-production and refining 2014

    International Nuclear Information System (INIS)

    Hureau, Geoffroy; Serbutoviez, Sylvain; Silva, Constancio; Maisonnier, Guy

    2014-11-01

    IFPEN analyses in this study the 2014 evolution of global investment in the field of exploration-production and refining: 1 - Changes in oil and gas prices: General background: weak economy and global disorder, Oil prices: fundamentals that could help to relax oil prices?, Gas prices: fall in Europe, stability in Japan, increase in the US; 2 - Exploration and production - Slowdown in growth: moderate rise in investment in 2014, exploration - Discoveries in 2014, Russia: sanctions will have limited short term impact, implications of the reforms to the Mexican energy sector; 3 - Drilling activity and market throughout the world: onshore and offshore drilling (Number of wells drilled throughout the world, Number of onshore wells, Number of offshore wells, Drilling, equipment and well services markets, Onshore drilling market, Offshore drilling market, Fracking market), Geophysical activity and the geophysical market, Offshore construction activity and the offshore construction market (Offshore construction activities, Rig construction activity, Floating Platform Systems (FPS), Sub-sea constructions, Offshore construction market); 4 - Refining - Significant increase in spending: increase in industrial costs, a slowdown in the increase in excess capacity in the future?, A bleak future for the european refining sector

  20. Rockets and Feathers: The Asymmetric Effect between China’s Refined Oil Prices and International Crude Oil Prices

    Directory of Open Access Journals (Sweden)

    Yufeng Chen

    2017-03-01

    Full Text Available This paper employs an asymmetric error-correction model (AECM, and uses monthly data on wholesale prices of gasoline and diesel products in China and international crude oil prices from February 2006 to October 2013 to examine whether China’s gasoline and diesel prices adjust asymmetrically to international crude oil price changes. Our empirical results suggest that increases and decreases in international oil prices have asymmetric effects on both wholesale prices of gasoline and diesel fuel in China, and that both increases and decreases in international oil prices have a greater effect on diesel prices than on gasoline prices in China. If there is no change in the maximum retail price, the asymmetry results from the transmission of wholesale prices in China with international oil prices. However, if there is a change in maximum retail prices, both international oil prices and maximum retail prices cause the asymmetry.

  1. Trends in heavy oil production and refining in California

    International Nuclear Information System (INIS)

    Olsen, D.K.; Ramzel, E.B.; Pendergrass, R.A. II.

    1992-07-01

    This report is one of a series of publications assessing the feasibility of increasing domestic heavy oil production and is part of a study being conducted for the US Department of Energy. This report summarizes trends in oil production and refining in Canada. Heavy oil (10 degrees to 20 degrees API gravity) production in California has increased from 20% of the state's total oil production in the early 1940s to 70% in the late 1980s. In each of the three principal petroleum producing districts (Los Angeles Basin, Coastal Basin, and San Joaquin Valley) oil production has peaked then declined at different times throughout the past 30 years. Thermal production of heavy oil has contributed to making California the largest producer of oil by enhanced oil recovery processes in spite of low oil prices for heavy oil and stringent environmental regulation. Opening of Naval Petroleum Reserve No. 1, Elk Hills (CA) field in 1976, brought about a major new source of light oil at a time when light oil production had greatly declined. Although California is a major petroleum-consuming state, in 1989 the state used 13.3 billion gallons of gasoline or 11.5% of US demand but it contributed substantially to the Nation's energy production and refining capability. California is the recipient and refines most of Alaska's 1.7 million barrel per day oil production. With California production, Alaskan oil, and imports brought into California for refining, California has an excess of oil and refined products and is a net exporter to other states. The local surplus of oil inhibits exploitation of California heavy oil resources even though the heavy oil resources exist. Transportation, refining, and competition in the market limit full development of California heavy oil resources

  2. Refinery production planning and scheduling: the refining core business

    Directory of Open Access Journals (Sweden)

    M. Joly

    2012-06-01

    Full Text Available Intelligent production planning and scheduling are of paramount importance to ensure refinery profitability, logistic reliability and safety at the local and corporate levels. In Brazil, such activities play a particularly critical role, since the Brazilian downstream model is moving towards a demand-driven model rather than a supply-driven one. Moreover, new and specialized non-linear constraints are continuously being incorporated into these large-scale problems: increases in oil prices implying the need for processing poor quality crudes, increasing demand and new demand patterns for petroleum products, new stringent environmental regulations related to clean fuels and start-up of new production technologies embedded into more complex refining schemes. This paper aims at clarifying the central role of refinery planning and scheduling activities in the Petrobras refining business. Major past and present results are outlined and corporate long-term strategies to deal with present and future challenges are presented.

  3. Price and inventory dynamics in petroleum product markets

    International Nuclear Information System (INIS)

    Considine, T.J.; Heo, Eunnyeong

    2000-01-01

    Unlike many studies of commodity inventory behavior, this paper estimates a model with endogenous spot and forward prices, inventories, production, and net imports. Our application involves markets for refined petroleum products in the United States. Our model is built around the supply and demand for storage. We estimate the model using Generalized Method of Moments and perform dynamic, simultaneous simulations to estimate the impacts of supply and demand shocks. Supply curves for the industry are inelastic and upward sloping. High inventory levels depress prices. Inventories fall in response to higher sales, consistent with production smoothing. Under higher input prices, refiners reduce their stocks of crude oil but increase their product inventories, consistent with cost smoothing. In some cases, imports of products are more variable than production or inventories. 25 refs

  4. Side-stream products of edible oil refining as feedstocks in biodiesel production

    Directory of Open Access Journals (Sweden)

    Cvetković Bojan S.

    2016-01-01

    Full Text Available Biodiesel, a diesel fuel alternative, is produced from vegetable oils and animal fats by the transesterification reaction of triacylglycerols and lower aliphatic alcohols. Beside number advantages related to fossil fuels, the main barrier to biodiesel wider commercial use is the high price of edible oils. Recently, the special attention was given to side-stream products of edible oil refining as low-cost triacylglycerol sources for biodiesel production because of their positive economic and ecological effects. In this paper, the different procedures for biodiesel production from side-stream refining products such as soapstock, spent bleaching earth and deodorizer distillate were analyzed. The main goal of this paper is to analyze the possibilities for reusing the by-products of edible oil refinement in the biodiesel production.

  5. Investment in exploration-production and refining 2013

    International Nuclear Information System (INIS)

    Hureau, Geoffroy; Serbutoviez, Sylvain; Silva, Constancio; Maisonnier, Guy

    2013-10-01

    IFPEN analyses in this study the 2013 evolution of global investment in the field of exploration-production and refining. 1 - Changes in oil and gas prices; 2 - Exploration production: a new year of growth: the increase in investments continues into 2013, exploration - Discoveries in 2013, 1978 - 2012: Investments - Production - Price; 3 - Main markets in the upstream oil equipment and services sector: introduction, drilling (Drilling activity, Number of wells drilled throughout the world, Number of onshore wells, Number of offshore wells, Drilling markets, equipment and services for wells, Onshore drilling market, Offshore drilling market, Fracking market); Geophysical market (Geophysical activity, Geophysical market); Offshore construction (Offshore construction activities, Fixed platforms (Jack-ups), Floating Platform Systems (FPS), Sub-sea constructions, Offshore construction market); Conclusion; 4 - Refining: looking for new equilibriums: falling excess capacity and regional disparities, recovery in capital spending in emerging countries, Asia is still the eldorado for investment in the downstream oil Sector (Continuing overcapacity in the medium-term, Differing investment strategies)

  6. Fortum Oil and Gas 2000: Exceptionally high price of crude oil and strong refining margins

    International Nuclear Information System (INIS)

    Ropponen, V.-M.

    2001-01-01

    Fortum intends to be an active player in the structural reorganization of the oil business by utilizing its niche position in oil refining. Fortum produces sophisticated motor fuel components, which it uses in its reformulated gasolines and sells and exports to other oil companies, even to highly demanding markets in California. The increase in the price of crude oil considerably improved the results of Oil and Gas Upstream. Similarly, an improvement in the refining margin, as well as profitable shipping operations and a strong demand for gasoline components, boosted the results of Oil Refining and Marketing. (orig.)

  7. Oil Production, Refining and Transportation in Canada

    Directory of Open Access Journals (Sweden)

    Igbal A. Guliyev

    2015-01-01

    Full Text Available The article deals with fuel and energy complex of Canada as one of the largest manufacturers of primary energy in the world, which provides up to 6 percent of the world energy supply. Only the Russian Federation, PRC, the United States of America and the Kingdom of Saudi Arabia have larger production volumes. However, oil plays the most significant role in Canada's energy exports. It is estimated that its proven reserves are sufficient to meet the demand for 140 years at current production rate. The relevance of the study, including the analysis of fuel and energy complex of Canada, is due to the fact that such comparison and synthesis of data on the amount of recoverable oil reserves, the volume of its production, imports, exports and transit of oil and oil products, the distribution of oil for transportation (via pipelines, rail, sea, road, strategic oil field, refining and transportation of oil and oil products development projects, as well as implementation of Canada's best practices in the Russian Federation, is being developed for the first time. In addition, the data given in previously published articles on the subject, due to the dynamic development of the industry, are obsolete and do not reflect the real situation.

  8. OPTIMAL PRICING OF A PERSONALIZED PRODUCT

    Institute of Scientific and Technical Information of China (English)

    Suresh P.SETHI

    2008-01-01

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

  9. 78 FR 20176 - Credit for Renewable Electricity Production, Refined Coal Production, and Indian Coal Production...

    Science.gov (United States)

    2013-04-03

    ..., Refined Coal Production, and Indian Coal Production, and Publication of Inflation Adjustment Factors and... renewable electricity production, refined coal production, and Indian coal production under section 45... resources, and to 2013 sales of refined coal and Indian coal produced in the United States or a possession...

  10. 77 FR 21835 - Credit for Renewable Electricity Production, Refined Coal Production, and Indian Coal Production...

    Science.gov (United States)

    2012-04-11

    ..., Refined Coal Production, and Indian Coal Production, and Publication of Inflation Adjustment Factors and... electricity production, refined coal production, and Indian coal production under section 45. DATES: The 2012... sales of refined coal and Indian coal produced in the United States or a possession thereof. Inflation...

  11. Optimal Pricing Strategy for New Products

    OpenAIRE

    Trichy V. Krishnan; Frank M. Bass; Dipak C. Jain

    1999-01-01

    Robinson and Lakhani (1975) initiated a long research stream in marketing when they used the Bass model (1969) to develop optimal pricing path for a new product. A careful analysis of the extant literature reveals that the research predominantly suggests that the optimal price path should be largely based on the sales growth pattern. However, in the real world we rarely find new products that have such pricing pattern. We observe either a monotonically declining pricing pattern or an increase...

  12. 75 FR 166 - Postal Product Price Changes

    Science.gov (United States)

    2010-01-04

    ... POSTAL REGULATORY COMMISSION [Docket No. CP2009-49; Order No. 371] Postal Product Price Changes...-filed Postal Service request to change prices for a Global Plus 2 contract. This notice provides an...: On December 21, 2009, the Postal Service filed a notice that prices for the Global Plus 2 contract at...

  13. Nonlinear Price Schedules and Tied Products.

    OpenAIRE

    Ormiston, Michael B; Phillips, Owen R

    1988-01-01

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

  14. Periodic Pricing of Seasonal Products in Retailing

    OpenAIRE

    Gabriel R. Bitran; Susana V. Mondschein

    1997-01-01

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

  15. Market Entry, Product Quality And Price Competition

    Directory of Open Access Journals (Sweden)

    Mathur Sameer

    2015-08-01

    Full Text Available We study an entrant firm’s product quality choice and the price competition arising between the entrant and the incumbent firm. We show that the entrant firm should introduce a relatively higher (lower quality than the incumbent firm when the consumers’ valuation for quality is sufficiently large (small. We also study how the incumbent firm modifies its price in response to the ensuing price competition. We find that the incumbent firm should decrease its price. We also profile how the incumbent firm’s price non-linearly depends on consumers’ valuation for quality.

  16. 76 FR 417 - 2011 Numismatic Products Pricing

    Science.gov (United States)

    2011-01-04

    ... DEPARTMENT OF THE TREASURY United States Mint 2011 Numismatic Products Pricing ACTION: Notice. SUMMARY: The United States Mint is announcing the prices of its 2011 numismatic products. Pursuant to the authority that 31 U.S.C. 5111(2)(3) & 5112 grant the Secretary of the Treasury to mint, prepare and...

  17. Investment in Exploration-Production and Refining - 2017

    International Nuclear Information System (INIS)

    Maisonnier, Guy; Hureau, Geoffroy; Serbutoviez, Sylvain; Silva, Constancio

    2018-01-01

    Based on surveys of expert opinion, in the absence of extraordinary geopolitical or economic circumstances, oil prices could rise in the range of $55 to $70/barrel, compared with $54/barrel in 2017. This prospect for higher prices is consistent with the expected re-stabilization of the market and a favorable economic and financial climate. Shifts in oil prices are clearly possible, upward in the case of potentially weak investment in exploration/production, or downward if U.S. supply is greater than previously expected. The wholesale price of natural gas, which rose during 2017 in Europe, Japan and the United States, may again rise in 2018 due to steady demand and changes in the price of oil and coal. Following two years of significant declines (-24% in 2015, -28% in 2016) worldwide investment in exploration-production (E and P) grew 4% in 2017 to reach $390 billion ($billion). Growth is focused in North America, where investment jumped by more than 30%, while it fell slightly in the rest of the world, especially in Europe. This can be attributed to independent oil companies, whose worldwide investment rose 23%, while the E and P budget for NOCs was stagnant and those for the major oil companies continued to sharply decline (-16%). Except for the U.S. onshore shale drilling market, all Exploration and Production markets have continued to decline since 2015 with the drop in oil prices. The markets lost half their value over a three year period. Offshore drilling, when carried out in deep and ultra-deep water, continues to decline due to excessively high intrinsic costs. Only those projects that have considerably revised their costs (-30 to -40%) could be approved. Investment by oil and gas operators concern existing fields, at the expense of development in new regions. Postponement and cancellation of major projects impacted the offshore construction markets. The geophysical market remained sluggish during 2017. Contractual surveys were rare, often replaced with

  18. 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

  19. Automobile Marketing Strategies, Pricing, and Product Planning

    Science.gov (United States)

    1978-04-01

    The objective of the study was to determine the decision-making processes concerning major model year product introductions and alterations in the automotive industry as well as to investigate techniques of price positioning, product and image positi...

  20. Automobile Marketing Strategies, Pricing, and Product Planning

    Science.gov (United States)

    1978-01-01

    The objective of the study was to determine the decision-making processes concerning major model year product introductions and alterations in the automotive industry as well as to investigate techniques of price positioning, product and image positi...

  1. Panorama 2011: Water in fuel production Oil production and refining

    International Nuclear Information System (INIS)

    Nabzar, L.

    2011-01-01

    Water plays a vital role in the production of fuels. Against a background of extremely high pressure to do with the need to protect the environment, better manage energy use and operate in a socially responsible manner - as well as the need to protect water as a resource and reduce greenhouse gas emissions, water management has become a major issue for the oil industry. These issues have all more or less been factored into the integrated water management programmes which have been introduced both in oil production and oil refining. These programmes have been designed to keep waste and emissions to a minimum, and to reduce the quantities of water required. (author)

  2. New Product Pricing in Quality Sensitive Markets

    OpenAIRE

    Stephen A. Smith

    1986-01-01

    This paper considers the problem of pricing a new product in a market having competing products of different qualities and market penetration levels, as measured by the cumulative number of units sold. Each customer type selects his optimal product based on maximizing consumer surplus. Pricing policies for a new product are determined for the seller based on cumulative profit maximization without discounting. An example is solved in detail for two demand function forms.

  3. Product and labour market regulations, production prices, wages and productivity

    NARCIS (Netherlands)

    Cette, G.; Lopez, J.; Mairesse, J.

    2015-01-01

    This study is an attempt to evaluate the effects of product and labour market regulations on industry productivity through their various impacts on changes in production prices and wages. In a first stage, the estimation of a regression equation on an industry*country panel, with controls for

  4. THE PRICE ON THE ORGANIC PRODUCT MARKET

    Directory of Open Access Journals (Sweden)

    ATĂNĂSOAIE GEORGE SEBASTIAN

    2013-08-01

    Full Text Available The main objective of this paper is to present prices on PAE market (PAE- organic foods market. Prices areanalyzed in terms of importance and the main factors that contribute to their establishment (quality of products,distribution channels, certification and eco-labeling system, customer segments and market development stage.The paper shows that are used three strategic options of prices: prices with high rigidity located in a low or highlevel and fluctuating prices, characterized by variations on short periods of time. Price is a very importantbarrier to market development but this importance can be mitigated through appropriate communicationpolicies with the market, which are essential especially for markets in early stages of development

  5. Unit Price Scaling Trends for Chemical Products

    Energy Technology Data Exchange (ETDEWEB)

    Qi, Wei [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Sathre, Roger [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Morrow, III, William R. [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Shehabi, Arman [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2015-08-01

    To facilitate early-stage life-cycle techno-economic modeling of emerging technologies, here we identify scaling relations between unit price and sales quantity for a variety of chemical products of three categories - metal salts, organic compounds, and solvents. We collect price quotations for lab-scale and bulk purchases of chemicals from both U.S. and Chinese suppliers. We apply a log-log linear regression model to estimate the price discount effect. Using the median discount factor of each category, one can infer bulk prices of products for which only lab-scale prices are available. We conduct out-of-sample tests showing that most of the price proxies deviate from their actual reference prices by a factor less than ten. We also apply the bootstrap method to determine if a sample median discount factor should be accepted for price approximation. We find that appropriate discount factors for metal salts and for solvents are both -0.56, while that for organic compounds is -0.67 and is less representative due to greater extent of product heterogeneity within this category.

  6. The economic impact of taxes on refined petroleum products in the Philippines

    International Nuclear Information System (INIS)

    Boyd, R.; Uri, N.D.

    1993-01-01

    This paper uses an aggregate modelling approach to assess the impact of taxes on refined petroleum products on the Philippine economy. The effects of removing the 48% tax on premium and regular gasoline and the 24% tax on other refined petroleum products on prices and quantities are examined. For example, the consequences of a complete elimination of refined petroleum product taxes would be an increase in output by all producing sectors of about 3.7% or about 2.65 hundred billion Philippine pesos, a rise in the consumption of goods and services by about 13.6% or 4.2 hundred billion Philippine pesos, a rise in lower tax revenue for the government of 62.4% or 2.8 hundred billion Philippine pesos. When subjected to sensitivity analyses, the results are reasonably robust. (author)

  7. Price strategies for sustainable food products

    NARCIS (Netherlands)

    Ingenbleek, P.T.M.

    2015-01-01

    Purpose – Sustainable products often suffer a competitive disadvantage compared with mainstream products because they must cover ecological and social costs that their competitors leave to future generations. The purpose of this paper is to identify price strategies for sustainable products that

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

    International Nuclear Information System (INIS)

    Ewing, Bradley T.; Thompson, Mark A.

    2007-01-01

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

  9. A new concept for product refining in the Purex process

    International Nuclear Information System (INIS)

    Henrich, E.; Bauder, U.; Marquardt, R.

    1986-01-01

    In actual Purex plants the products are refined in additional solvent extraction cycles. Crystallization of uranyl and plutonyl nitrate from aqueous nitric acid solution is proposed as a potentially simpler product refining concept. Suitable crystallization conditions are being investigated in the laboratory using simulated and actual process solutions. A thorough removal of mother liquor is an essential purification step and well washed crystals usually contain less than 1% of an individual impurity. Crystallization simultaneously comprises a product concentration step. Hexavalent uranium can be separated from lower-valent plutonium. An outline of an integrated processing concept is given. Product refining by crystallization is compact; recycling of mother liquor plus wash acid prevents product loss and the generation of additional waste streams. (orig.) [de

  10. The effects of carbon prices and anti-leakage policies on selected industrial sectors in Spain – Cement, steel and oil refining

    International Nuclear Information System (INIS)

    Santamaría, Alberto; Linares, Pedro; Pintos, Pablo

    2014-01-01

    This paper assesses the impacts on the cement, steel and oil refining sectors in Spain of the carbon prices derived from the European Emissions Trading Scheme (EU ETS), and the potential effect on these sectors of the European Union anti-leakage policy measures. The assessment is carried out by means of three engineering models developed for this purpose. Our results show a high exposure to leakage of cement in coastal regions; a smaller risk in the steel sector, and non-negligible risk of leakage for the oil refining sector when carbon allowance prices reach high levels. We also find that the risk of leakage could be better handled with other anti-leakage policies than those currently in place in the EU. - Highlights: • We simulate the impact of carbon prices on the risk of leakage in the cement, steel and oil refining sectors. • We also assess the effectiveness of different anti-leakage policies in Europe. • Cement production in coastal areas is highly exposed. • The risk of leakage for steel and oil refining is smaller. • Anti-leakage policies should be modified to be efficient

  11. Oil refining in a CO2 constrained world: Effects of carbon pricing on refineries globally

    International Nuclear Information System (INIS)

    Abdul-Manan, Amir F.N.; Arfaj, Abdullah; Babiker, Hassan

    2017-01-01

    Six aggregated refinery linear programming (LP) models were developed to represent actual refineries in North America, Latin America, Europe (including the CIS), Middle East, Asia (excluding China) and China. The models were used to conduct regional comparative assessments and to evaluate the effects of carbon pricing on refinery operations globally. We found that the average refinery energy efficiencies for the regions were estimated to range from 92.2% to 95.2%. The well-to-refinery gate carbon intensities for gasoline, diesel and jet fuels were estimated to be 17.1 (16.4–19.4), 13.3 (12.5–14.2) and 10.1 (9.6–10.8) gCO2eq/MJ, respectively. If refineries are forced to at least meet the 2014 regional volume demands for oil products, pricing CO 2 would not have an impact on either refinery productions, efficiency or emissions. If refineries are allowed to re-optimize production slates to reduce CO 2 emissions, refineries would opt to increase gasoline yield at the expense of diesel. This is counter intuitive since gasoline has a higher carbon intensity than diesel. The refinery bias against dieselization creates a supply preference toward a less efficient transportation end use. Here, we argue that if carbon pricing is not administered properly, this can lead to emissions leakage from refineries to the road transport sector. - Highlights: • Investigate actual refinery productions in 6 regions globally. • Refineries already operate at the most efficient levels. • Complex refineries tolerate higher CO 2 prices better. • Carbon pricing induces bias against dieselization. • Identify potential emissions leakage.

  12. Price Uncertainty in Linear Production Situations

    NARCIS (Netherlands)

    Suijs, J.P.M.

    1999-01-01

    This paper analyzes linear production situations with price uncertainty, and shows that the corrresponding stochastic linear production games are totally balanced. It also shows that investment funds, where investors pool their individual capital for joint investments in financial assets, fit into

  13. Investment in exploration-production and refining 2012

    International Nuclear Information System (INIS)

    Hureau, Geoffroy; Serbutoviez, Sylvain; Silva, Constancio; Maisonnier, Guy

    2012-10-01

    2012 has been marked by uncertainty and contrasts. In Europe, the debt crisis has threatened the economic stability of the entire Euro-zone. This has had consequences for other countries in the European Union as well. World economic growth is increasingly sluggish. This is affecting industrialised countries first and foremost, as well as a number of emerging countries - albeit to a lesser degree. Political and social stability has not yet returned to those countries that were affected by the Arab spring, with the region covered by North Africa and the Middle East still very vulnerable. The wave of revolutions in this region has been followed by international tension over Iran's growing nuclear capability, and its regular threats to blockade the Strait of Hormuz - through which a significant percentage of the world's petroleum passes. Economic, financial and geopolitical uncertainty has a tendency to drive oil prices up or push them down, creating a highly fluctuating oil market. Prices remain high overall, because of all the geopolitical uncertainty. The exponential growth of shale gas initially, and then tight oil over the last few years in the US, are dramatically transforming the landscape and have significantly changed our way of thinking about the oil and gas sector in the medium term. The increasing use of shale gas is accentuating the contrast between the world's three main gas markets - North America, Europe and Asia - and is challenging received wisdom about how international gas flows are changing. The word 'contrast' also springs to mind when looking into how investment in hydrocarbons has changed, with an upstream sector that is flourishing and a downstream sector that is treading water. In spite of the uncertain economic context, investment in exploration-production is still increasing at a healthy rate, with activity reaching record levels in all areas. The decline in activity of 2009/2010 now seems a long way off. As far as

  14. Petroleum products price interactions on the world markets: an econometric analysis

    International Nuclear Information System (INIS)

    Maack, Laetitia de; Lantz, Frederic

    2012-09-01

    This study examines the relationship between crude oil and petroleum products prices in the European, Asian and North American markets. We develop an econometric model, based on the long term equilibrium between the prices, which takes into account the changes in the oil product demand trends. We explain price behaviors by the impact of the demand trends. Because the refining industry which transforms crude into petroleum products is a joint product industry, petroleum product pricing is affected by demand trends both in terms of quality and quantity. Consequently, the long term equilibrium between prices, estimated through a co-integration approach, are affected by several structural breaks. We also develop a panel econometric model which simultaneously takes into account the relative prices of ail world products towards one crude. Finally, the different results are compared to the marginal costs derived from an oil refining optimization model. This econometric modeling approach enables a better understanding of the long term equilibrium between prices of petroleum products and crude. (authors)

  15. EFFECTIVE ANNUAL INTEREST SIGNIFIANCE ON BANKING PRODUCTS PRICE STRUCTURE

    Directory of Open Access Journals (Sweden)

    Medar Lucian-Ion

    2011-06-01

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

  16. 75 FR 18015 - Credit for Renewable Electricity Production, Refined Coal Production, and Indian Coal Production...

    Science.gov (United States)

    2010-04-08

    ..., Refined Coal Production, and Indian Coal Production, and Publication of Inflation Adjustment Factors and... coal production, and Indian coal production under section 45. FOR FURTHER INFORMATION CONTACT: Philip... Coal, and Indian Coal:'', Line 26, the language ``is 2.15 cents per kilowatt hour on the'' is corrected...

  17. 77 FR 25538 - Credit for Renewable Electricity Production, Refined Coal Production, and Indian Coal Production...

    Science.gov (United States)

    2012-04-30

    ... DEPARTMENT OF THE TREASURY Internal Revenue Service Credit for Renewable Electricity Production... Reference Prices for Calendar Year 2012; Correction AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Correction to a publication of inflation adjustment factors and reference prices for calendar year 2012 as...

  18. Production of biodiesel by transesterification of refined soybean oil ...

    African Journals Online (AJOL)

    This study focused on the production of biodiesel via transesterification of refined soybean oil obtained locally. Sodium hydroxide was used as the alkali catalyst and methanol (as alcohol) was used in the transesterification process due to its low cost. The methanol-to-oil molar ratio was maintained at 6:1. The effect of ...

  19. Evaluation of the acute toxicity of refined petroleum products against ...

    African Journals Online (AJOL)

    Static and static-renewal evaluation of the acute toxicity of three refined petroleum products — petrol, kerosene and diesel — against two freshwater animals, the mollusc Pila ovata and the fish Poecilia reticulata, was conducted in the laboratory. Petrol, kerosene and diesel were found to be moderately toxic to the test ...

  20. Refining of the cracked products of mineral oils, etc

    Energy Technology Data Exchange (ETDEWEB)

    Seelig, S

    1928-06-02

    A process is disclosed for the refining of the distilled or cracked products from mineral oil, shale oil, or brown-coal-tar oil, with the aid of alkali-plumbite solution, characterized by adding to the plumbite solution from oxide, iron hydroxide, basic oxide, or an iron salt.

  1. Oil price movements and production agreements

    International Nuclear Information System (INIS)

    Mazraati, M.

    2004-01-01

    The purpose of this technical exercise is to apply econometric modelling to study the relationship between movements in the oil price and compliance by the Organization of the Petroleum Exporting Countries (OPEC) with its self-assigned production agreements, whose purpose is to bring order and stability to the international oil market. After introducing various methods of measurement of compliance, the study applies these methods to monthly data for 1995-2002 for OPEC. It then identifies the method ''over-production as a percentage of ceiling'' as the best-fitting and most accurate criterion for measuring OPEC compliance. The paper then elaborates on intervention analysis, explains the various types of intervention in detail and introduces a number of econometric models to monitor oil price movements resulting from OPEC's intervention in the oil market, along with the extent of its compliance with its agreements. On applying the models to a set of historical monthly data, the study finds that higher oil prices have been achieved when the effective level of compliance lies in the range of 94-99 per cent, and that lower oil prices have been experienced when there is less compliance and more volatility. The paper notes that the achievement of order and stability is the responsibility of all parties in an international market that is inherently volatile. (author)

  2. Bitumen to refined products and petrochemicals : a preliminary assessment

    International Nuclear Information System (INIS)

    Crandall, G.

    2004-01-01

    Purvin and Gertz is an energy consulting firm that provides advise to the energy sector. A review of western Canadian crude oil supply suggests that oil sands production will surpass declining conventional production. Oil sands supply includes synthetic crude oil (SCO), bitumen and diluent. It is expected that oil sands will increase from 42 per cent of western supply in 2002 to 78 per cent in 2015. This presentation reviewed the potential of Alberta's oil sands and presented a recent study of refined products and petrochemicals from bitumen. Upgrading, refining and petrochemical case studies were presented. In particular, the author examined if a Canadian oil sands upgrading project with high capital costs can be competitive with competing projects in the United States and internationally. In addition to supply and demand issues, the presentation examined infrastructure capability and market potential in the United States. The economic potential and risks of preferred business cases compared to upgrading to SCO were also evaluated. tabs., figs

  3. Hedonic Retail Beef and Pork Product Prices

    OpenAIRE

    Parcell, Joseph L.; Schroeder, Ted C.

    2007-01-01

    Consumer-level hedonic models are estimated to determine factors affecting retail pork and beef meat cuts. Results indicate that brand premium and discount varies across private, national, and store brands and that brand premium varies across meat cuts carrying the same brand name. Product size discounts are linear for beef and nonlinear for pork, meat items on sale are significantly discounted to non-sale items, specialty stores typically will not garner higher prices than supermarket/grocer...

  4. Best Practices for New Product Pricing: Impact on Market Performance and Price Level under Different Conditions

    NARCIS (Netherlands)

    Ingenbleek, P.T.M.; Frambach, R.T.; Verhallen, T.M.M.

    2013-01-01

    To date, research on new product pricing has predominantly been approached as a choice between market skimming and penetration pricing. Despite calls for research that addresses other complexities in new product pricing, empirical research responding to these calls remains scarce. This paper

  5. The Triggers, Timing and Speed of New Product Price Landings

    NARCIS (Netherlands)

    C. Hernández-Mireles (Carlos); D. Fok (Dennis); Ph.H.B.F. Franses (Philip Hans)

    2008-01-01

    textabstractMany high-tech products and durable goods exhibit exactly one significant price cut some time after their launch. We call this sudden transition from high to low prices the price landing. In this paper we present a new model that describes two important features of price landings: their

  6. 77 FR 840 - Pricing for 2012 Products Featuring $1 Coins

    Science.gov (United States)

    2012-01-06

    ... DEPARTMENT OF THE TREASURY United States Mint Pricing for 2012 Products Featuring $1 Coins AGENCY: United States Mint, Department of the Treasury. ACTION: Notice. SUMMARY: The United States Mint is announcing 2012 pricing for products featuring $1 coins, as follows: Product Retail price Presidential $1...

  7. 17 CFR 229.1204 - (Item 1204) Oil and gas production, production prices and production costs.

    Science.gov (United States)

    2010-04-01

    ... production, production prices and production costs. 229.1204 Section 229.1204 Commodity and Securities... production, production prices and production costs. (a) For each of the last three fiscal years disclose... production cost, not including ad valorem and severance taxes, per unit of production. Instruction 1 to Item...

  8. PECAN PRODUCTION AND PRICE TRENDS 1979-1995

    OpenAIRE

    Shafer, Carl E.

    1996-01-01

    Pecan production, stocks, trade and prices are described. Data on tree nuts believed to compete with pecans are also presented. Pecan production and prices became more volatile in the early 1990's. Prices reached exceptionally high levels during five of the six years 1990-1995. US pecan imports have increased significantly since the mid-1980's and clearly exceed exports. Production, cold storage stocks, and inflation explained most of the year-to-year changes in season average pecan price lev...

  9. Production and refining. Increase of Chinese petroleum imports

    International Nuclear Information System (INIS)

    Anon.

    1997-01-01

    China produced 156.5 Mt of petroleum in 1996, from which 56 Mt were extracted from the Daqing oil field, exploited since 1960. About 10% of the crude oil comes from offshore fields. Over the 100 Mt refined in 1996, 20 Mt were imported. The Chinese petroleum products demand should increase to 200 Mt/y by the end of the century with respect to 150 Mt/y in 1997. The Dalian refinery, the first Chinese-foreign joint venture, started to work in November 1996 and should reached its full capacity of 100000 b/day in the first quarter of 1997. The Chinese refining activity has now an excess capacity of 206 Mt/y. Several other joint venture projects in petrochemistry are planned in China. Short paper. (J.S.)

  10. A method of refining aromatic hydrocarbons from coal chemical production

    Energy Technology Data Exchange (ETDEWEB)

    Zieborak, K.; Koprowski, A.; Ratajczak, W.

    1979-10-01

    A method is disclosed for refining aromatic hydrocarbons of coal chemical production by contact of liquid aromatic hydrocarbons and their mixtures with a strongly acid macroporous sulfocationite in the H-form at atmospheric pressure and high temperature. The method is distinguished in that the aromatic hydrocarbons and their mixtures, from which alkali compounds have already been removed, are supplied for refinement with the sulfocationite with simultaneous addition of olefin derivatives of aromatic hydrocarbons, followed by separation of pure hydrocarbons by rectification. Styrene or alpha-methylstyrene is used as the olefin derivatives of the aromatic hydrocarbons. The method is performed in several stages with addition of olefin derivatives of aromatic hydrocarbons at each stage.

  11. An evaluation of the effects of the tax on refined petroleum products in the Philippines

    International Nuclear Information System (INIS)

    Uri, N.D.; Boyd, R.

    1993-01-01

    This paper uses an aggregate modelling approach to assess the effect of taxes on refined petroleum products on the Philippine economy. The approach used in the analysis consists of a general equilibrium model comprising 14 producing sectors, 14 consuming sectors, 3 household categories classified by income and government. The effects of removing the 48% tax on premium and regular gasoline and the 24% tax on other refined petroleum products on prices and quantities are examined. The results are revealing. For example, the consequences of a complete elimination of refined petroleum product taxes would be an increase in output by all producing sectors of about 3.7% or about 2.65 hundred billion Philippine pesos, a rise in the consumption of goods and services by about 13.6% or 4.2 hundred billion Philippine pesos, a rise in total utility by 14.3% or 4.5 hundred billion Philippine pesos and lower tax revenue for the government of 62.4% or 2.8 hundred billion Philippine pesos. When subjected to a sensitivity analysis, the results are reasonably robust with regard to the assumption of the values of the substitution elasticities. That is, while the model's equilibrium values do vary in response to different assumptions of the values of these elasticities, the fluctuations are not so enormous to suggest that the model is unrealistically sensitive to these parameters. (Author)

  12. 76 FR 77271 - Competitive Product Postal Price Changes

    Science.gov (United States)

    2011-12-12

    ... POSTAL REGULATORY COMMISSION [Docket No. CP2012-2; Order No. 997] Competitive Product Postal Price... recently-filed Postal Service request for a change in competitive products prices. The changes will take... and justification for the changes, the effective date, and a schedule of the changed rates. The price...

  13. 78 FR 69755 - International Product and Price Changes

    Science.gov (United States)

    2013-11-21

    ... POSTAL SERVICE 39 CFR Part 20 International Product and Price Changes AGENCY: Postal Service TM... Service, International Mail Manual (IMM[supreg]), to reflect the prices, product features, and...-0372. SUPPLEMENTARY INFORMATION: New prices are available under Docket Number CP2014-5 on the Postal...

  14. 76 FR 75786 - International Product and Price Changes

    Science.gov (United States)

    2011-12-05

    ... POSTAL SERVICE 39 CFR Part 20 International Product and Price Changes AGENCY: Postal Service TM... Service, International Mail Manual (IMM[supreg]), to reflect the prices, product features, and.... SUPPLEMENTARY INFORMATION: New prices are available under Docket Number CP2012-2 on the Postal Regulatory...

  15. Pricing in the International Takeoff of New Products

    NARCIS (Netherlands)

    Chandrasekaran, D.; Arts, J.W.C.; Tellis, G.J.; Frambach, R.T.

    2013-01-01

    This study focuses on the effect of two dimensions of price (relative price and price volatility) on the international takeoff of new products. The study examines these drivers of takeoff using a novel data set of bimonthly observations of 7 new consumer electronic products in 8 countries. The

  16. EOQ model for perishable products with price-dependent demand, pre and post discounted selling price

    Science.gov (United States)

    Santhi, G.; Karthikeyan, K.

    2017-11-01

    In this article we introduce an economic order quantity model for perishable products like vegetables, fruits, milk, flowers, meat, etc.,with price-dependent demand, pre and post discounted selling price. Here we consider the demand is depending on selling price and deterioration rate is constant. Here we developed mathematical model to determine optimal discounton the unit selling price to maximize total profit. Numerical examples are given for illustrated.

  17. Pricing Strategy and the Formation and Evolution of Reference Price Perceptions in New Product Categories

    OpenAIRE

    Lowe, Ben; Alpert, Frank

    2010-01-01

    This study examines the formation and evolution of reference price perceptions in new product categories. It contributes to our understanding of pricing new products by integrating two important research streams in marketing-reference price theory and the theory of pioneer brand advantage. Prior research has focused solely on products in existing or incrementally new categories, and has typically examined fast-moving consumer goods. Using a cross-sectional experiment to study the formation of...

  18. Pricing of Marine Products and Services in the Modular Age

    DEFF Research Database (Denmark)

    Jiang, Liping; Al-Ajlouni, Omar

    WHAT IS THE ISSUE? Pricing can be a particular challenging issue for marine suppliers with multiple products and services especially when suppliers want to address specific customer needs and at the same time achieves the efficiency in pricing. WHY IS IT IMPORTANT? Appropriate pricing of products-and-services...... in the market. Lastly, customer satisfaction and loyalty will be increased accordingly. WHAT CAN BE DONE? The pricing challenge for multiple products and services can be overcome by applying the modular concept on pricing, where each product or service is offered as a module, so suppliers can either set...

  19. Price elasticity of petroleum products in selected African countries

    International Nuclear Information System (INIS)

    Kaul, S.

    1995-01-01

    In this paper, a fundamental understanding of the economic impact which is directly related to the price elasticity of petroleum products in six selected African countries is obtained by using the Jorgorson-Lian model for shares. Each kind of fuel price has a different impact on the share of oil products for the different countries. The price increase of one kind of fuel may increase or decrease the share of another fuel in the total oil products. In the oil importing African countries, the price of one product is relatively inelastic, whereas in the oil producing African countries, the price is elastic. (Author)

  20. A statistical analysis of product prices in online markets

    Science.gov (United States)

    Mizuno, T.; Watanabe, T.

    2010-08-01

    We empirically investigate fluctuations in product prices in online markets by using a tick-by-tick price data collected from a Japanese price comparison site, and find some similarities and differences between product and asset prices. The average price of a product across e-retailers behaves almost like a random walk, although the probability of price increase/decrease is higher conditional on the multiple events of price increase/decrease. This is quite similar to the property reported by previous studies about asset prices. However, we fail to find a long memory property in the volatility of product price changes. Also, we find that the price change distribution for product prices is close to an exponential distribution, rather than a power law distribution. These two findings are in a sharp contrast with the previous results regarding asset prices. We propose an interpretation that these differences may stem from the absence of speculative activities in product markets; namely, e-retailers seldom repeat buy and sell of a product, unlike traders in asset markets.

  1. Oil refining and product market developments in Europe

    International Nuclear Information System (INIS)

    McDonald, P.

    1991-01-01

    One political development in Europe that will affect the petroleum refining industry is the opening of a single market among the European Commission countries. Although the single market officially opens on January 1, 1993, a single market for energy will not happen at that time. Most European countries feel that refining is a strategic industry and adopt some form of protectionism in this sector. Environmental policy in Europe tends to be separate from energy policy, making conflicts in setting standards for emissions and fuel composition somewhat inevitable. For example, both environmental and energy policies favor a carbon tax on fuels; the EC environmental commission does not want to be seen as favoring nuclear power, so it favors penalizing all fuels about the same amount, while the energy commission says the carbon tax should be related to the fuel carbon content. A measure affecting the refining industry is the proposal for reducing sulfur in diesel fuel. By 1994 EC countries will have a common 0.2% standard and by 1996 a 0.05% standard for automotive diesel. To meet the latter standard, refineries will need upgrading at an estimated cost of US$4 billion. Another political consideration for the refining industry is whether eastern Europe should be part of the EC energy community. However, if there is a reluctance in the western European countries for a single western market, there is even less enthusiasm for an energy market that includes eastern Europe as well. In addition, there is a reluctance to accept that there should be a free flow of petroleum products from east to west

  2. Pricing Policy and Strategies for Consumer High-Tech Products

    Directory of Open Access Journals (Sweden)

    Dovleac, L.

    2014-06-01

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

  3. Why are product prices in online markets not converging?

    Directory of Open Access Journals (Sweden)

    Takayuki Mizuno

    Full Text Available Why are product prices in online markets dispersed in spite of very small search costs? To address this question, we construct a unique dataset from a Japanese price comparison site, which records price quotes offered by e-retailers as well as customers' clicks on products, which occur when they proceed to purchase the product. The novelty of our approach is that we seek to extract useful information on the source of price dispersion from the shape of price distributions rather than focusing merely on the standard deviation or the coefficient of variation of prices, as previous studies have done. We find that the distribution of prices retailers quote for a particular product at a particular point in time (divided by the lowest price follows an exponential distribution, showing the presence of substantial price dispersion. For example, 20 percent of all retailers quote prices that are more than 50 percent higher than the lowest price. Next, comparing the probability that customers click on a retailer with a particular rank and the probability that retailers post prices at a particular rank, we show that both decline exponentially with price rank and that the exponents associated with the probabilities are quite close. This suggests that the reason why some retailers set prices at a level substantially higher than the lowest price is that they know that some customers will choose them even at that high price. Based on these findings, we hypothesize that price dispersion in online markets stems from heterogeneity in customers' preferences over retailers; that is, customers choose a set of candidate retailers based on their preferences, which are heterogeneous across customers, and then pick a particular retailer among the candidates based on the price ranking.

  4. Why Are Product Prices in Online Markets Not Converging?

    Science.gov (United States)

    Mizuno, Takayuki; Watanabe, Tsutomu

    2013-01-01

    Why are product prices in online markets dispersed in spite of very small search costs? To address this question, we construct a unique dataset from a Japanese price comparison site, which records price quotes offered by e-retailers as well as customers’ clicks on products, which occur when they proceed to purchase the product. The novelty of our approach is that we seek to extract useful information on the source of price dispersion from the shape of price distributions rather than focusing merely on the standard deviation or the coefficient of variation of prices, as previous studies have done. We find that the distribution of prices retailers quote for a particular product at a particular point in time (divided by the lowest price) follows an exponential distribution, showing the presence of substantial price dispersion. For example, 20 percent of all retailers quote prices that are more than 50 percent higher than the lowest price. Next, comparing the probability that customers click on a retailer with a particular rank and the probability that retailers post prices at a particular rank, we show that both decline exponentially with price rank and that the exponents associated with the probabilities are quite close. This suggests that the reason why some retailers set prices at a level substantially higher than the lowest price is that they know that some customers will choose them even at that high price. Based on these findings, we hypothesize that price dispersion in online markets stems from heterogeneity in customers’ preferences over retailers; that is, customers choose a set of candidate retailers based on their preferences, which are heterogeneous across customers, and then pick a particular retailer among the candidates based on the price ranking. PMID:24015219

  5. Biofuels versus food production: Does biofuels production increase food prices?

    International Nuclear Information System (INIS)

    Ajanovic, Amela

    2011-01-01

    Rapidly growing fossil energy consumption in the transport sector in the last two centuries caused problems such as increasing greenhouse gas emissions, growing energy dependency and supply insecurity. One approach to solve these problems could be to increase the use of biofuels. Preferred feedstocks for current 1st generation biofuels production are corn, wheat, sugarcane, soybean, rapeseed and sunflowers. The major problem is that these feedstocks are also used for food and feed production. The core objective of this paper is to investigate whether the recent increase of biofuels production had a significant impact on the development of agricultural commodity (feedstock) prices. The most important impact factors like biofuels production, land use, yields, feedstock and crude oil prices are analysed. The major conclusions of this analysis are: In recent years the share of bioenergy-based fuels has increased moderately, but continuously, and so did feedstock production, as well as yields. So far, no significant impact of biofuels production on feedstock prices can be observed. Hence, a co-existence of biofuel and food production seems possible especially for 2nd generation biofuels. However, sustainability criteria should be seriously considered. But even if all crops, forests and grasslands currently not used were used for biofuels production it would be impossible to substitute all fossil fuels used today in transport.

  6. Skimming or Penetration? Strategic Dynamic Pricing for New Products

    OpenAIRE

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

    2015-01-01

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

  7. Pricing Strategies for CD-ROM Products.

    Science.gov (United States)

    Rowley, J. E.

    1994-01-01

    Pricing strategies for subscriptions and licenses for CD-ROMs are different for single users and networks. The basic components of pricing strategies are charges for subscription, connect line, display/print, telecommunication, session rate, special commands, and special services. Highlights selected supplier pricing strategies for single users…

  8. Promotional Frames' Influence on Price Perceptions of Two Apparel Products.

    Science.gov (United States)

    Stanforth, Nancy; Lennon, Sharron; Shin, Jung Im

    2001-01-01

    A study explored the differences in price perceptions of two apparel products when promotions were framed as either a price discount or a gift-with-purchase. The majority preferred the discount. Results illustrate the importance of promotional framing in forming consumer price perceptions. (Contains 30 references.) (Author/JOW)

  9. Price consciousness and purchase intentions for new food products: the moderating effect of product category knowledge when price is unknown

    OpenAIRE

    Hansen, Håvard

    2013-01-01

    This is an Accepted Manuscript of an article published by Taylor & Francis in JOURNAL of FOOD PRODUCTS MARKETING in July 2013, available online: http://wwww.tandfonline.com/ 10.1080/10454446.2013.724363. This study examines the degree to which consumers’ price consciousness affects their purchase intentions for a newly introduced product when the price of the product is unknown. Based on data from 186 consumers exposed to a new product offering, the results show that price consciousness...

  10. Oil refining and product marketing developments in Southeast Asia

    International Nuclear Information System (INIS)

    Szabo, A.M.

    1991-01-01

    It is estimated that the high growth rate in oil demand in the Asia-Pacific region (excluding Japan) will slow down slightly but still outperform the rest of the world during 1990-2000. This is expected to be true for southeast Asia as well, or more specifically the Association of Southeast Asian Nations (ASEAN). The region's dependence on oil imports from the Middle East will continue for the foreseeable future. Asia-Pacific crude oil production is expected to grow to 6.8 million bbl/d by 1995 and to 7.3 million bbl/d by 2000, meaning that the region will import nearly 50% of its crude oil requirements at both 1995 and 2000. The participation of ASEAN in the production of indigenous crudes in the Asia-Pacific region will increase from 31% in the mid-1980s to 41% by 2000. The Asia-Pacific imbalance between refinery output or supplies and demand patterns will be accentuated during the decade, providing significant opportunities for investments and/or product trading. The region will require upgrading facilities to generate an additional 3.7 million bbl/d of light products in 1995. In the ASEAN countries, surpluses in refined products are expected for 1995. Environmental concerns are following similar trends in the Asia-Pacific region as in the rest of the world, and the proportion of high aromatics gasolines produced will increase as the proportion of leaded gasoline decreases. 6 tabs

  11. Techno-economic analysis of the deacetylation and disk refining process: characterizing the effect of refining energy and enzyme usage on minimum sugar selling price and minimum ethanol selling price.

    Science.gov (United States)

    Chen, Xiaowen; Shekiro, Joseph; Pschorn, Thomas; Sabourin, Marc; Tucker, Melvin P; Tao, Ling

    2015-01-01

    A novel, highly efficient deacetylation and disk refining (DDR) process to liberate fermentable sugars from biomass was recently developed at the National Renewable Energy Laboratory (NREL). The DDR process consists of a mild, dilute alkaline deacetylation step followed by low-energy-consumption disk refining. The DDR corn stover substrates achieved high process sugar conversion yields, at low to modest enzyme loadings, and also produced high sugar concentration syrups at high initial insoluble solid loadings. The sugar syrups derived from corn stover are highly fermentable due to low concentrations of fermentation inhibitors. The objective of this work is to evaluate the economic feasibility of the DDR process through a techno-economic analysis (TEA). A large array of experiments designed using a response surface methodology was carried out to investigate the two major cost-driven operational parameters of the novel DDR process: refining energy and enzyme loadings. The boundary conditions for refining energy (128-468 kWh/ODMT), cellulase (Novozyme's CTec3) loading (11.6-28.4 mg total protein/g of cellulose), and hemicellulase (Novozyme's HTec3) loading (0-5 mg total protein/g of cellulose) were chosen to cover the most commercially practical operating conditions. The sugar and ethanol yields were modeled with good adequacy, showing a positive linear correlation between those yields and refining energy and enzyme loadings. The ethanol yields ranged from 77 to 89 gallons/ODMT of corn stover. The minimum sugar selling price (MSSP) ranged from $0.191 to $0.212 per lb of 50 % concentrated monomeric sugars, while the minimum ethanol selling price (MESP) ranged from $2.24 to $2.54 per gallon of ethanol. The DDR process concept is evaluated for economic feasibility through TEA. The MSSP and MESP of the DDR process falls within a range similar to that found with the deacetylation/dilute acid pretreatment process modeled in NREL's 2011 design report. The DDR process is

  12. Improved ethanol yield and reduced Minimum Ethanol Selling Price (MESP by modifying low severity dilute acid pretreatment with deacetylation and mechanical refining: 1 Experimental

    Directory of Open Access Journals (Sweden)

    Chen Xiaowen

    2012-08-01

    Full Text Available Abstract Background Historically, acid pretreatment technology for the production of bio-ethanol from corn stover has required severe conditions to overcome biomass recalcitrance. However, the high usage of acid and steam at severe pretreatment conditions hinders the economic feasibility of the ethanol production from biomass. In addition, the amount of acetate and furfural produced during harsh pretreatment is in the range that strongly inhibits cell growth and impedes ethanol fermentation. The current work addresses these issues through pretreatment with lower acid concentrations and temperatures incorporated with deacetylation and mechanical refining. Results The results showed that deacetylation with 0.1 M NaOH before acid pretreatment improved the monomeric xylose yield in pretreatment by up to 20% while keeping the furfural yield under 2%. Deacetylation also improved the glucose yield by 10% and the xylose yield by 20% during low solids enzymatic hydrolysis. Mechanical refining using a PFI mill further improved sugar yields during both low- and high-solids enzymatic hydrolysis. Mechanical refining also allowed enzyme loadings to be reduced while maintaining high yields. Deacetylation and mechanical refining are shown to assist in achieving 90% cellulose yield in high-solids (20% enzymatic hydrolysis. When fermentations were performed under pH control to evaluate the effect of deacetylation and mechanical refining on the ethanol yields, glucose and xylose utilizations over 90% and ethanol yields over 90% were achieved. Overall ethanol yields were calculated based on experimental results for the base case and modified cases. One modified case that integrated deacetylation, mechanical refining, and washing was estimated to produce 88 gallons of ethanol per ton of biomass. Conclusion The current work developed a novel bio-ethanol process that features pretreatment with lower acid concentrations and temperatures incorporated with deacetylation

  13. Press point on prices

    International Nuclear Information System (INIS)

    Schilansky, J.L.

    2005-06-01

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

  14. Report of the Select Committee on Petroleum Product Pricing

    International Nuclear Information System (INIS)

    Dooks, B.

    2004-01-01

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

  15. Price impact on Russian gas production and export

    International Nuclear Information System (INIS)

    Kononov, Y.D.

    2003-01-01

    The paper examines the prospects for Russian gas output and export under different price development. Growth of gas production and transportation costs, following an increase of gas export and production, is estimated. An attempt is made to determine the relation of efficient (from the point of view of gas companies) gas export volumes to prices on external energy markets. The paper presents a quantitative estimate of the possible impact of domestic gas price policy on gas output in Western Siberia. (author)

  16. Assessment of the impact of the tax on refined petroleum products in the Philippines

    International Nuclear Information System (INIS)

    Uri, N.D.; Boyd, R.

    1993-01-01

    This paper uses an aggregate modelling approach to assess the impact of taxes on refined-petroleum products on the Philippine's economy. The approach used in the analysis consists of a general equilibrium model composed of 14 producing sectors, 14 consuming sectors, three household categories classified by income, and a government. The effects of removing the 48% tax on premium and regular gasoline and the 24% tax on other refined petroleum products on prices and quantities are examined. The results are revealing. For example, the consequences of a complete elimination of refined petroleum product taxes would be an increase in output by all producing sectors of about 3.7% or about 2.65 hundred billion (2.65 x 10 11 ) Philippine pesos, a rise in the consumption of goods and services by about 13.6% or 4.2 hundred billion (4.2 x 10 11 ) Philippine pesos, a rise in total utility by 14.3% or 4.5 hundred billion (4.5 x 10 11 ) Philippine pesos and a lower tax revenue for the government of 62.4% and 2.8 hundred billion (2.8 x 10 11 ) Philippine pesos. When subjected to a sensitivity analysis, the results are reasonably robust with regard to the assumption of the values of the substitution elasticities. That is, while the model's equilibrium values do vary in response to different assumptions of the values of these elasticities, the fluctuations are not so large as to suggest that the model is unrealistically sensitive to these parameters. (Author)

  17. Trends in price and productivity in the fur sector

    DEFF Research Database (Denmark)

    Hansen, Henning Otte

    2016-01-01

    in the long term. The terms of trade - the ratio between output and input prices - is also unstable but with a clear negative long-term trend. The developments in prices and productivity cause high demands on management both on individual fur farms and further down the value chain.......Price and productivity are two important competitive factors for the fur skin production worldwide. In the paper it is demonstrated that there are significant long-term trends towards increasing productivity and decreasing price ratios. The trend follows the same pattern as for other agricultural...... products. The analysis is based on Danish conditions as a case. By using different measurement methods it is demonstrated that productivity is increasing in several places in fur value chain. The fur skin prices, which are largely determined in international markets, are both very volatile and decreasing...

  18. 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.

  19. ACCOUNTING FUNDAMENTALS AND VARIATIONS OF STOCK PRICE: METHODOLOGICAL REFINEMENT WITH RECURSIVE SIMULTANEOUS MODEL

    OpenAIRE

    Sumiyana, Sumiyana; Baridwan, Zaki

    2015-01-01

    This study investigates association between accounting fundamentals and variations of stock prices using recursive simultaneous equation model. The accounting fundamentalsconsist of earnings yield, book value, profitability, growth opportunities and discount rate. The prior single relationships model has been investigated by Chen and Zhang (2007),Sumiyana (2011) and Sumiyana et al. (2010). They assume that all accounting fundamentals associate direct-linearly to the stock returns. This study ...

  20. Accounting Fundamentals and Variations of Stock Price: Methodological Refinement with Recursive Simultaneous Model

    OpenAIRE

    Sumiyana, Sumiyana; Baridwan, Zaki

    2013-01-01

    This study investigates association between accounting fundamentals and variations of stock prices using recursive simultaneous equation model. The accounting fundamentalsconsist of earnings yield, book value, profitability, growth opportunities and discount rate. The prior single relationships model has been investigated by Chen and Zhang (2007),Sumiyana (2011) and Sumiyana et al. (2010). They assume that all accounting fundamentals associate direct-linearly to the stock returns. This study ...

  1. Domestic petroleum product pricing policy: Old issues in new perspective

    International Nuclear Information System (INIS)

    Bhattacharyya, S.C.

    1995-01-01

    It appears that the economic basis of domestic petroleum product pacing has, hitherto, received inadequate attention from economists. International comparisons of petroleum product pricing show that domestic markets are highly distorted This article argues that despite significant developments in theoretical and applied economics, economic theories do not provide any ready made solutions for energy pricing issues to the policy makers who have to deal with a large set of practical issues. As a result, it is not unusual to encounter gross misapplication of economic rules in petroleum pricing policies. This work also focuses on the possible effects of changing domestic market structure vis-a-vis pricing policies

  2. ASPECTS OF REGIONAL COMPETITIVENESS THROUGH DYNAMIC PRICES OF PETROLEUM PRODUCTS

    Directory of Open Access Journals (Sweden)

    Daniela\tENACHESCU

    2015-06-01

    Full Text Available This paper presents aspects regarding the dynamics of prices of petroleum products: gasoline and diesel in Romania in the period 2003(2007-2014. Both focus on relationship-price raw material and finished product by the impact of market prices. Given that the price of fuel is a key factor in economic development but also in the living of population, this paper has proposed to analyze some aspects of the dynamics of prices of petroleum products in correlation with commodity prices in a competitive market in 2003 -2014. In the analized period, price of oil barrel has a dynamics substantially influenced by the global political turbulences but also by lower oil demand due to consumption reduction, especially lately. Increases and decreases were abrupt and unpredictable in the early years of the first decade of the XXI century. Political crises in the Middle East, the economic crisis started in 2007 and especially the crisis in Ukraine and policies adopted by the EU and the US have led to extremely large fluctuations in oil prices from one period to another . This dynamic will only cover the price of petroleum products namely gazoline and diesel for vehicles.

  3. Petroleum refining industry in China

    International Nuclear Information System (INIS)

    Walls, W.D.

    2010-01-01

    The oil refining industry in China has faced rapid growth in oil imports of increasingly sour grades of crude with which to satisfy growing domestic demand for a slate of lighter and cleaner finished products sold at subsidized prices. At the same time, the world petroleum refining industry has been moving from one that serves primarily local and regional markets to one that serves global markets for finished products, as world refining capacity utilization has increased. Globally, refined product markets are likely to experience continued globalization until refining investments significantly expand capacity in key demand regions. We survey the oil refining industry in China in the context of the world market for heterogeneous crude oils and growing world trade in refined petroleum products. (author)

  4. Estimating customer preferences for new pricing products. Final report

    International Nuclear Information System (INIS)

    Goett, A.A.

    1998-10-01

    This report summarizes the results of a review of various methods to analyze customer preferences for electric service pricing products. The purpose of this study was to evaluate different techniques for analyzing preferences for electric service and pricing products in a competitive retail electricity market. In this market, competing providers will offer a variety of electric services under different price structures, and customers will face the decision of choosing a single electric service provider and pricing plan. The service and price characteristics that utilities offer will largely determine their market shares and profitability. Understanding preferences will be critical to quantifying the effects of service and pricing attributes on market share and profitability in the deregulated retail electricity market

  5. The impact of luxury brand identity on product pricing policy

    Directory of Open Access Journals (Sweden)

    Wioleta Dryl

    2013-12-01

    Full Text Available Basing the luxury product pricing policy, only on the assumption that the price has to be the highest amount a client is willing to pay, poses a number of challenges in front of enterprise. The consumer of the luxury product is very aware of his needs and expectations. He is ready to pay a higher price for the product, but is expecting to return, very specific values. Relying luxury brand strategy, only on high-priced, without enrichment offer to a sufficiently high level leads to market failure. The justification for the high price of the product may, however, be defined brand image, which is a consequence of appropriate policies shaping its identity. In the case of luxury goods, especially essential tool proves to be the emotional component of the brand identity.

  6. Pricing of Traffic Light Options and other Hybrid Products

    DEFF Research Database (Denmark)

    Kokholm, Thomas

    2009-01-01

    companies stay solvent in the traffic light stress test system introduced by the Danish Financial Supervisory Authorities in 2001. Similar systems are now being implemented in several other European countries. A pricing approach for general payoffs is presented and illustrated with simulation via...... the pricing of a hybrid derivative known as the EUR Sage Note. The approach can be used to price many existing structured products....

  7. Production Contracts and the Spot Market Price of Hogs

    OpenAIRE

    Key, Nigel D.

    2010-01-01

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

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

    OpenAIRE

    Kretschmer, Tobias; Rösner, Mariana

    2010-01-01

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

  9. Essays on sovereign bond pricing and inflation-linked products

    NARCIS (Netherlands)

    Simon, Zorka

    2016-01-01

    This doctoral dissertation consists of three chapters on the pricing of sovereign debt and inflation-linked products. The first chapter examines the relative pricing of nominal and inflation-linked debt of the three largest Eurozone sovereign issuers. Its main contribution is to present evidence of

  10. Equity Prices, Productivity Growth, and the 'New Economy'

    DEFF Research Database (Denmark)

    Madsen, Jakob Brøchner; Davis, E. Philip

    The sharp increase in equity prices over the 1990s was widely attributed to permanently higher productivity growth derived from the New Economy. This paper establishes a rational expectations model of technology innovations and equity prices, which shows that under plausible assumptions...

  11. Endogeneous price leadership in a duopoly: equal products, unequal technology

    NARCIS (Netherlands)

    Dastidar, K.G.; Furth, D.

    2005-01-01

    In the present paper we study endogenous price leadership in the context of a homogeneous product Bertrand duopoly model in which the firms have different, strictly convex cost functions. In such a framework it is well known that a simultaneous move price choice game does not have an equilibrium in

  12. 75 FR 13345 - Pricing for Certain United States Mint Products

    Science.gov (United States)

    2010-03-19

    ... DEPARTMENT OF THE TREASURY United States Mint Pricing for Certain United States Mint Products AGENCY: United States Mint, Department of the Treasury. ACTION: Notice. SUMMARY: The United States Mint is announcing the price of First Spouse Bronze Medals and 2010 First Spouse Bronze Medal Series: Four...

  13. Successful New Product Pricing Practices: A Contingency Approach

    NARCIS (Netherlands)

    Ingenbleek, P.T.M.; Debruyne, M.; Frambach, R.T.; Verhallen, T.M.M.

    2003-01-01

    The purpose of this study is to examine the success of new product pricing practices and the conditions upon which success is contingent. We distinguish three different pricing practices that refer to the use of information on customer value, competition, and costs respectively. Following Monroe's

  14. Successful New Product Pricing Practices: A Contingency Approach

    NARCIS (Netherlands)

    Ingenbleek, P.T.M.; Debruyne, M.; Frambach, R.T.; Verhallen, Th.M.M.

    2003-01-01

    Abstract The purpose of this study is to examine the success of new product pricing practices and the conditions upon which success is contingent. We distinguish three different pricing practices that refer to the use of information on customer value, competition, and costs respectively. Following

  15. Prices, production, and inventories over the automotive model year

    OpenAIRE

    Adam Copeland; Wendy E. Dunn; George J. Hall

    2005-01-01

    This paper studies the within-model-year pricing and production of new automobiles. Using new monthly data on U.S. transaction prices, we document that for the typical new vehicle, prices typically fall over the model year at a 9.2 percent annual rate. Concurrently, both sales and inventories are hump shaped. To explain these time series, we formulate a market equilibrium model for new automobiles in which inventory and pricing decisions are made simultaneously. On the demand side, we use mic...

  16. Equity prices, productivity growth and 'The New Economy'

    DEFF Research Database (Denmark)

    Madsen, Jakob B.; Davis, E. Philip

    2006-01-01

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

  17. Currency risk and prices of oil and petroleum products: a simulation with a quantitative model

    International Nuclear Information System (INIS)

    Aniasi, L.; Ottavi, D.; Rubino, E.; Saracino, A.

    1992-01-01

    This paper analyzes the relationship between the exchange rates of the US Dollar against the four major European currencies and the prices of oil and its main products in those countries. In fact, the sensitivity of the prices to the exchange rate movements is of fundamental importance for the refining and distribution industries of importing countries. The result of the analysis shows that in neither free market conditions, as those present in Great Britain, France and Germany, nor in regulated markets, i.e. the italian one, do the variations of petroleum product prices fully absorb the variation of the exchange rates. In order to assess the above relationship, we first tested the order of co-integration of the time series of exchange rates of EMS currencies with those of international prices of oil and its derivative products; then we used a transfer-function model to reproduce the quantitative relationships between those variables. Using these results, we then reproduced domestic price functions with partial adjustment mechanisms. Finally, we used the above model to run a simulation of the deviation from the steady-state pattern caused by exchange-rate exogenous shocks. 21 refs., 5 figs., 3 tabs

  18. The importance of price for the sale of ecological products

    DEFF Research Database (Denmark)

    Hansen, Jesper Kirkeby; Sørensen, Hans Christian

    1993-01-01

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

  19. Valuing ecosystem services. A shadow price for net primary production

    International Nuclear Information System (INIS)

    Richmond, Amy; Kaufmann, Robert K.; Myneni, Ranga B.

    2007-01-01

    We analyze the contribution of ecosystem services to GDP and use this contribution to calculate an empirical price for ecosystem services. Net primary production is used as a proxy for ecosystem services and, along with capital and labor, is used to estimate a Cobb Douglas production function from an international panel. A positive output elasticity for net primary production probably measures both marketed and nonmarketed contributions of ecosystems services. The production function is used to calculate the marginal product of net primary production, which is the shadow price for ecosystem services. The shadow price generally is greatest for developed nations, which have larger technical scalars and use less net primary production per unit output. The rate of technical substitution indicates that the quantity of capital needed to replace a unit of net primary production tends to increase with economic development, and this rate of replacement may ultimately constrain economic growth. (author)

  20. Oil market prices 1989/1990

    International Nuclear Information System (INIS)

    Jenkins, G.

    1991-01-01

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

  1. Process technology for refining crude soybean oil – a product from ...

    African Journals Online (AJOL)

    Process technology for refining crude soybean oil – a product from soycake meal production in Ghana. ... yield of 83.3 per cent was recorded. Results of quality assessment of the final laboratory refined oil compared favourably with Ghana Standards Board's specification for edible soybean oil. Ghana Journal of Science Vol.

  2. Price-related promotions for tobacco products on Twitter.

    Science.gov (United States)

    Jo, Catherine L; Kornfield, Rachel; Kim, Yoonsang; Emery, Sherry; Ribisl, Kurt M

    2016-07-01

    This cross-sectional study examined price-related promotions for tobacco products on Twitter. Through the Twitter Firehose, we obtained access to all public tweets posted between 6 December 2012 and 20 June 2013 that contained a keyword suggesting a tobacco-related product or behaviour (eg, cigarette, vaping) in addition to a keyword suggesting a price promotion (eg, coupon, discount). From this data set of 155 249 tweets, we constructed a stratified sampling frame based on the price-related keywords and randomly sampled 5000 tweets (3.2%). Tweets were coded for product type and promotion type. Non-English tweets and tweets unrelated to a tobacco or cessation price promotion were excluded, leaving an analytic sample of 2847 tweets. The majority of tweets (97.0%) mentioned tobacco products while 3% mentioned tobacco cessation products. E-cigarettes were the most frequently mentioned product (90.1%), followed by cigarettes (5.4%). The most common type of price promotion mentioned across all products was a discount. About a third of all e-cigarette-related tweets included a discount code. Banned or restricted price promotions comprised about 3% of cigarette-related tweets. This study demonstrates that the vast majority of tweets offering price promotions focus on e-cigarettes. Future studies should examine the extent to which Twitter users, particularly youth, notice or engage with these price promotion tweets. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://www.bmj.com/company/products-services/rights-and-licensing/

  3. Optimal Pricing and Advertising Policies for New Product Oligopoly Models

    OpenAIRE

    Gerald L. Thompson; Jinn-Tsair Teng

    1984-01-01

    In this paper our previous work on monopoly and oligopoly new product models is extended by the addition of pricing as well as advertising control variables. These models contain Bass's demand growth model, and the Vidale-Wolfe and Ozga advertising models, as well as the production learning curve model and an exponential demand function. The problem of characterizing an optimal pricing and advertising policy over time is an important question in the field of marketing as well as in the areas ...

  4. Detecting Chaos from Agricultural Product Price Time Series

    Directory of Open Access Journals (Sweden)

    Xin Su

    2014-12-01

    Full Text Available Analysis of the characteristics of agricultural product price volatility and trend forecasting are necessary to formulate and implement agricultural price control policies. Taking wholesale cabbage prices as an example, a multiple test methodology has been adopted to identify the nonlinearity, fractality, and chaos of the data. The approaches used include the R/S analysis, the BDS test, the power spectra, the recurrence plot, the largest Lyapunov exponent, the Kolmogorov entropy, and the correlation dimension. The results show that there is chaos in agricultural wholesale price data, which provides a good theoretical basis for selecting reasonable forecasting models as prediction techniques based on chaos theory can be applied to forecasting agricultural prices.

  5. Share-of-Surplus Product Line Optimisation with Price Levels

    Directory of Open Access Journals (Sweden)

    X. G. Luo

    2014-01-01

    Full Text Available Kraus and Yano (2003 established the share-of-surplus product line optimisation model and developed a heuristic procedure for this nonlinear mixed-integer optimisation model. In their model, price of a product is defined as a continuous decision variable. However, because product line optimisation is a planning process in the early stage of product development, pricing decisions usually are not very precise. In this research, a nonlinear integer programming share-of-surplus product line optimization model that allows the selection of candidate price levels for products is established. The model is further transformed into an equivalent linear mixed-integer optimisation model by applying linearisation techniques. Experimental results in different market scenarios show that the computation time of the transformed model is much less than that of the original model.

  6. Duopoly price competition on markets with agricultural products

    Directory of Open Access Journals (Sweden)

    Marie Prášilová

    2011-01-01

    Full Text Available A situation, in which two firms compete, is in the economic theory described by duopoly models. Market equilibrium on the duopoly market is formed in a reciprocal adjustment process of market prices and materialized market opportunities. The goal of the analysis is to find out whether the agricultural products market is significantly influenced by appearance of duopolies, what form they have and if they can fundamentally influence the price level of food. That food chain stores endeavour to mutually adapt food product prices is generally known; it is set especially by the inelastic demand for the mentioned goods on the side of consumers, i.e., by the need to demand basic food. Duopoly reactions to price competition in food chain stores are particularly strong in the case of commodities of milk and tomatoes, where the reactions and approximation of prices can be clearly seen. Based on statistical research it is obvious that the reactions are most reflected on sales of the food chain stores Billa and Albert. To identify specific reactions of price duopoly at retail chains the ANOVA statistical method was used. The firm’s duopoly behaviour as such on the food market need not be a subject for applying punishment from the antimonopoly bureau, if it does not have the cartel agreement character. An example can be the identical potato prices inquiry in the supermarkets of food chain stores.

  7. The present state of refining in France

    International Nuclear Information System (INIS)

    1996-01-01

    The european refining industry suffers from a production over-capacity and closures are inevitable; the situation is even worse in France due to the imbalance between gas oil and gasoline prices and the weak margin for distributors. The French refining industry is however an important and essential link for its strategic fuel and petroleum product supply, and represent 17000 jobs. Several measures are introduced by the French Industry department towards restructuring, capacity reduction and fuel price harmonization

  8. Heterodox surplus approach: production, prices, and value theory

    OpenAIRE

    Lee, Frederic

    2011-01-01

    In this paper I argue that that there is a heterodox social surplus approach that has its own account of output-employment and prices, and its own value theory which draws upon various heterodox traditions. Starting with the Sraffian technical definition of the social surplus and then working with a Sraffa-Leontief input-output framework, the particular distinguishing feature of the heterodox approach is the role of agency in determining prices, the social surplus, and total social product a...

  9. Dynamic Pricing Competition with Strategic Customers Under Vertical Product Differentiation

    OpenAIRE

    Qian Liu; Dan Zhang

    2013-01-01

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

  10. Joint production and corporate pricing: An empirical analysis of joint products in the petroleum industry

    International Nuclear Information System (INIS)

    Karimnejad, H.

    1990-01-01

    This dissertation investigates the pricing mechanism of joint products in large multi-plant and multi-product corporations. The primary objective of this dissertation is to show the consistency of classical theories of production with corporate pricing of joint products. This dissertation has two major parts. Part One provides a theoretical framework for joint production and corporate pricing. In this part, joint production is defined and its historical treatment by classical and contemporary economists is analyzed. Part Two conducts an empirical analysis of joint products in the US petroleum industry. Methods of cost allocation are used in the pricing of each individual petroleum product. Three methods are employed to distribute joint production costs to individual petroleum products. These methods are, the sales value method, the barrel gravity method and the average unit cost method. The empirical findings of dissertation provide useful guidelines for pricing policies of large multi-product corporations

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

    Directory of Open Access Journals (Sweden)

    H. Tamidy

    2016-03-01

    Full Text Available Introduction: Risk is an essential component in the production and sale of agricultural products. Due to the nature of agricultural products, the people who act in this area including farmers and businesspersons encounter unpredictable fluctuations of prices. On the other hand, the firms that process agricultural products also face fluctuation of price of agricultural inputs. Given that the Canola is considered as one of the inputs of product processing factories, control of unpredictable fluctuations of the price of this product would increase the possibility of correct decision making for farmers and managers of food processing industries. The best available tool for control and management of the price risk is the use of future markets and options. It is evident that the pricing is the main pillar in every trade. Therefore, offering a fair price for the options will be very important. In fact, options trading in the options market create cost insurance stopped. In this way, which can reduce the risks of deflation created in the future, if the person entitled to the benefits of the price increase occurs in the future. Unlike the futures, market where the seller had to deliver the product on time, in the options market, there is no such compulsion. In addition, this is one of the strengths of this option contract, because if there is not enough product for delivery to the futures market as result of chilling, in due course, the farmers suffer, but in the options market there will be a loss. In this study, the setup options of rape, as a product, as well as inputs has been paid for industry. Materials and Methods: In this section. The selection criteria of the disposal of asset base for valuation of European put options and call option is been introduced. That for obtain this purpose, some characteristics of the goods must considered: 1-Unpredictable fluctuations price of underlying asset 2 -large underlying asset cash market 3- The possibility

  12. Refining margins: recent trends

    International Nuclear Information System (INIS)

    Baudoin, C.; Favennec, J.P.

    1999-01-01

    Despite a business environment that was globally mediocre due primarily to the Asian crisis and to a mild winter in the northern hemisphere, the signs of improvement noted in the refining activity in 1996 were borne out in 1997. But the situation is not yet satisfactory in this sector: the low return on invested capital and the financing of environmental protection expenditure are giving cause for concern. In 1998, the drop in crude oil prices and the concomitant fall in petroleum product prices was ultimately rather favorable to margins. Two elements tended to put a damper on this relative optimism. First of all, margins continue to be extremely volatile and, secondly, the worsening of the economic and financial crisis observed during the summer made for a sharp decline in margins in all geographic regions, especially Asia. Since the beginning of 1999, refining margins are weak and utilization rates of refining capacities have decreased. (authors)

  13. Price transmission between products at different stages of manufacturing in forest industries

    Science.gov (United States)

    Mo Zhou; Joseph Buongiorno

    2005-01-01

    The theory of demand and supply implies a positive relationship, or "price transmission" between the prices of products at different stages of manufacturing, This relationship was investigated with quarterly prices of softwood stumpage in the US South, and national prices of forest products, from 1977 to 2002. All prices, net of inflation, were found to be...

  14. MANUFACTURING PRICES, PRODUCTIVITY, AND LABOR COSTS IN 5 ECONOMIES

    NARCIS (Netherlands)

    VANARK, B

    The United States continues to surge ahead of other major industrial economies in terms of lower prices, higher levels of labor productivity, and better unit labor cost performance; while the depreciation of the dollar plays an important role, real productivity gains are important as well.

  15. Bundle Pricing Decisions for Fresh Products with Quality Deterioration

    OpenAIRE

    Fang, Yan; Jiang, Yiping; Han, Xingxing

    2018-01-01

    How to sell fresh products quickly to decrease the storage cost and to meet customer quality requirement is of vital importance in the food supply chain. Bundling fresh products is an efficient strategy to promote sales and reduce storage pressure of retailers. In this paper, we consider the bundle pricing decisions for homogeneous fresh products with quality deterioration. The value of fresh products with quality deterioration is approximated as an exponential function based on which custome...

  16. Proceedings of the 3. NCUT meeting on upgrading and refining of heavy oil, bitumen and synthetic crude oil and the 2. symposium on stability and compatibility during the production, transportation and refining of petroleum

    International Nuclear Information System (INIS)

    2003-01-01

    This conference highlights new developments in refining processes for heavy oil, bitumen, and synthetic crudes. The oil sands/heavy oil industry in Canada has grown significantly in the last decade and could triple by 2012 to reach 2.6 million barrels per day. Experts from the petroleum industry, government organizations and technology providers attended this conference which identified technology gaps and areas where improvements are needed. The presentations demonstrated that many new technologies associated with heavy oil bitumen upgrading and refining have posed compatibility and stability challenges for pipeliners, upgraders and refiners. One of the issues addressed at the conference was the effect of upgrading technologies on market price due to the expected increase in production. Another important issue is how production of bitumen can be increased without significantly increasing greenhouse gas emissions from the refineries and upgrading facilities. The sessions of the conference were entitled: new technology developments in bitumen upgrading; secondary upgrading developments and expanded product opportunities; environmental issues and expanded oil sands development; and, stability and compatibility during the production, transportation and refining of petroleum. Twenty six presentations were indexed separately for inclusion in this database. tabs., figs

  17. Study of Agricultural Product Options Pricing

    Science.gov (United States)

    HONG, Qiu

    2017-09-01

    China is a large agricultural country, and the healthy development of agriculture is related to the stability of the whole society. The agricultural production and management of agricultural products are confronted with many risks, especially the market risks. Option contract is the object of option market transaction, so it is very important to study the option contract of agricultural products. Option trading separates the risk and profit, so that the trader can avoid the risk while retaining the opportunity to obtain income. The option has the characteristics of low transaction cost, simple and efficient, so it is suitable for small and medium investors.

  18. Method for Developing Descriptions of Hard-to-Price Products: Results of the Telecommunications Product Study

    Energy Technology Data Exchange (ETDEWEB)

    Conrad, F.; Tonn, B.

    1999-05-01

    This report presents the results of a study to test a new method for developing descriptions of hard-to-price products. The Bureau of Labor Statistics (BLS) is responsible for collecting data to estimate price indices such as the Consumers Price Index (BLS) is responsible for collecting data to estimate price indices such as the Consumers Price Index (CPI). BLS accomplishes this task by sending field staff to places of business to price actual products. The field staff are given product checklists to help them determine whether products found today are comparable to products priced the previous month. Prices for non-comparable products are not included in the current month's price index calculations. A serious problem facing BLS is developing product checklists for dynamic product areas, new industries, and the service sector. It is difficult to keep checklists up-to-date and quite often simply to develop checklists for service industry products. Some people estimates that upwards of 50 % of US economic activity is not accounted for in the CPI

  19. Optimal advertising and pricing decisions for complementary products

    Science.gov (United States)

    Taleizadeh, Ata Allah; Charmchi, Masoud

    2015-03-01

    Cooperative advertising is an agreement between a manufacturer and a retailer to share advertising cost at the local level. Previous studies have not investigated cooperative advertising for complementary products and their main focus was only on one good. In this paper, we study a two-echelon supply chain consisting of one manufacturer and one retailer with two complementary goods. The demand of each good is influenced not only by its price but also by the price of the other product. We use two game theory approaches to model this problem; Stackelberg manufacturer and Stackelberg retailer.

  20. Price, tax and tobacco product substitution in Zambia.

    Science.gov (United States)

    Stoklosa, Michal; Goma, Fastone; Nargis, Nigar; Drope, Jeffrey; Chelwa, Grieve; Chisha, Zunda; Fong, Geoffrey T

    2018-03-24

    In Zambia, the number of cigarette users is growing, and the lack of strong tax policies is likely an important cause. When adjusted for inflation, levels of tobacco tax have not changed since 2007. Moreover, roll-your-own (RYO) tobacco, a less-costly alternative to factory-made (FM) cigarettes, is highly prevalent. We modelled the probability of FM and RYO cigarette smoking using individual-level data obtained from the 2012 and 2014 waves of the International Tobacco Control (ITC) Zambia Survey. We used two estimation methods: the standard estimation method involving separate random effects probit models and a method involving a system of equations (incorporating bivariate seemingly unrelated random effects probit) to estimate price elasticities of FM and RYO cigarettes and their cross-price elasticities. The estimated price elasticities of smoking prevalence are -0.20 and -0.03 for FM and RYO cigarettes, respectively. FM and RYO are substitutes; that is, when the price of one of the products goes up, some smokers switch to the other product. The effects are stronger for substitution from FM to RYO than vice versa. This study affirms that increasing cigarette tax with corresponding price increases could significantly reduce cigarette use in Zambia. Furthermore, reducing between-product price differences would reduce substitution from FM to RYO. Since RYO use is associated with lower socioeconomic status, efforts to decrease RYO use, including through tax/price approaches and cessation assistance, would decrease health inequalities in Zambian society and reduce the negative economic consequences of tobacco use experienced by the poor. © Article author(s) (or their employer(s) unless otherwise stated in the text of the article) 2018. All rights reserved. No commercial use is permitted unless otherwise expressly granted.

  1. Joint Dynamic Pricing of Multiple Perishable Products Under Consumer Choice

    OpenAIRE

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

    2010-01-01

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

  2. Junk Food, Health and Productivity: Taste, Price, Risk and Rationality

    OpenAIRE

    Levy, Amnon

    2006-01-01

    Junk-food consumption, health and productivity are analyzed within an expectedlifetime- utility-maximizing framework in which the probability of living and productivity rise with health and health deteriorate with the consumption of junkfood. So long that the junk food’s relative taste-price differential is positive, the rational diet deviates from the physiologically optimal and renders the levels of health and productivity lower than the maximal. Taxing junk-food can eliminate this discrepa...

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

    OpenAIRE

    Nguyen, Tram

    2013-01-01

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

  4. Transparency, price-dependent demand and product variety

    OpenAIRE

    Gu, Yiquan; Wenzel, Tobias

    2010-01-01

    This paper revisits the relationship between transparency on the consumer side and product variety as analyzed in Schultz (2009). We identify two welfare effects of transparency. More transparency decreases price-cost margins which is beneficial forwelfare. On the other hand, more transparency reduces variety which can be positive or negative for welfare. Overall, more transparency is always welfareimproving.

  5. Product Bundling and Shared Information Goods: A Pricing Exercise

    Science.gov (United States)

    Morrison, William G.

    2016-01-01

    In this article, the author describes an exercise in which two pricing problems (product bundling and the sharing of digital information goods) can be understood using the same analytical approach. The exercise allows students to calculate the correct numerical answers with relative ease, while the teaching plan demonstrates the importance of the…

  6. Price and Service Competition between New and Remanufactured Products

    Directory of Open Access Journals (Sweden)

    Bin Wang

    2015-01-01

    Full Text Available This paper sets two manufacturers on the market. One is traditional manufacturer, which produces new products, and the other remanufactures by recycling used products. Two manufacturers sell products to customers through one retailer and also provide product-related services. Three participators decide prices and service levels independently. We discuss the optimal decision of prices, service levels, demands, and profits in three scenarios: Manufacturers Stackelberg, Retailer Stackelberg, and Nash Equilibrium. We also study the influence of customer acceptance of remanufactured product (θ on participators’ decisions. With the increase of θ, new product profit reduces; remanufactured product profit increases at the beginning and then decreases. Retailer profit grows steadily. In Manufacturers Stackelberg, new and remanufactured products can get the maximum profits, and retailer only has the minimum profit. In Retailer Stackelberg, retailer can get the maximum profit; new product only has the minimum profit and remanufactured product has the medium gain. In Nash Equilibrium, new product and retailer have the medium gains, and remanufactured product has the minimum profit.

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

    International Nuclear Information System (INIS)

    Bhattacharyya, S.C.

    1997-01-01

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

  8. A Diffusion Model Incorporating Product Benefits, Price, Income and Information

    OpenAIRE

    Dan Horsky

    1990-01-01

    We start by assuming that a major benefit of many new durable products such as dishwashers and microwave ovens is time savings. Others, such as VCRs, also enhance the value of our leisure time. Using a household production framework we demonstrate that a utility maximizing individual will have a reservation price for the product which is a function of the product benefits and his wage rate. By assuming that the wage rate has an extreme value distribution across the population, we are able to ...

  9. Refining ASD for disease management in strawberry and apple production

    Science.gov (United States)

    Anaerobic soil disinfestation (ASD) has been studied as an industry level option for replacing soil fumigants to manage soil-borne diseases in both annual and perennial crop production systems. Although ASD has proven effective for the suppression of certain soil-borne pathogens in both strawberry ...

  10. Use of absorption spectroscopy for refined petroleum product discrimination

    Science.gov (United States)

    Short, Michael

    1991-07-01

    On-line discrimination between arbitrary petroleum products is necessary for optimal control of petroleum refinery and pipeline operation and process control involving petroleum distillates. There are a number of techniques by which petroleum products can be distinguished from one another. Among these, optical measurements offer fast, non-intrusive, real-time characterization. The application examined here involves optically monitoring the interface between dissimilar batches of fluids in a gasoline pipeline. After examination of near- infrared and mid-infrared absorption spectroscopy and Raman spectroscopy, Fourier transform mid-infrared (FTIR) spectroscopy was chosen as the best candidate for implementation. On- line FTIR data is presented, verifying the applicability of the technique for batch interface detection.

  11. PRICE AND PRICING STRATEGIES

    OpenAIRE

    SUCIU Titus

    2013-01-01

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

  12. The production of refined intermediate fuels with high temperature reactors

    International Nuclear Information System (INIS)

    Nowacki, P.J.

    1977-01-01

    Power plants can be divided into conventional steam plants, fueled with hard coal, lignite or liquid fuel, hydroelectric plants and nuclear plants, their chief use was or is the production of electric energy and - in certain cases only - of production of process heat, using steam or hot water for process heat in industry and district heating for residential and commercial purposes. The part played by electricity in the whole energy demand is of the order of 10% to 25% the total demand, the rest is necessary for supplying process heat below 200 0 C or above 200 0 C, up to some 1500 0 C. The present distribution of energy demands is covered chiefly by liquid fuel, coal and lignite, water energy and increasing steps by nuclear fuel. It is well known that the erection of nuclear energy plants is a necessity for today and for the future. There is another necessity, i.e. to utilize the primary energy resources in a complex way i.e. to supply electricity as energy vector and other fuels as process heat as new energy vectors. These manmade fuels - whether in a gaseous or liquid phase - contain hydrogen, and one can believe, the world is entering a new energy civilisation in utilizing hydrogen and its compounds as second energy vector. The author has taken up the task to investigate this new problem of process, heat in the form of hydrogen and its compounds, by evaluating their present and future production, based on the utilization of natural gas, oil coal, water and the nuclear heat of helium, available in a closed circuit as primary coolant in a High - Temeprature Helium cooled reactor, which is symbolized in the paper as HTR. The paper deals in more detail with the following application of Nuclear Heat: hydrogasification, direct reduction of ore, mainly iron ores, ammonia synthesis, methanol synthesis Hydrocracking, long distance transfer of process heat (chemical heat pipe), hydrogenation of coal, Fischer - Tropsch synthesis, oxosynthesis, coal gasification, coal

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

    OpenAIRE

    Baek, Jungho

    2010-01-01

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

  14. Dynamic replenishment, production, and pricing decisions in the face of supply disruption and random price-sensitive demand

    NARCIS (Netherlands)

    Zhu, Stuart X.

    2013-01-01

    We study a joint decision problem for replenishment, production, pricing strategies in the face of both supply and demand uncertainties. The supply of the raw material suffers from a potential supply disruption while the demand for the finished goods is price-sensitive and random. We assume that the

  15. Price elasticity estimates for tobacco products in India.

    Science.gov (United States)

    John, Rijo M

    2008-05-01

    The tax base of tobacco in India is heavily dependent on about 14% of tobacco users, who smoke cigarettes. Non-cigarette tobacco products accounting for 85% of the tobacco consumption contributes only 15% of the total tobacco taxes. Though taxation is an important tool to regulate consumption of tobacco, there have been no estimates of price elasticities for different tobacco products in India to date, which can guide tax policy on tobacco. This paper, for the first time in India, examines the price elasticity of demand for bidis, cigarettes and leaf tobacco at the national level using a representative cross-section of households. This study found that own-price elasticity estimates of different tobacco products in India ranged between -0.4 to -0.9, with bidis (an indigenous hand-rolled smoked tobacco preparation in India) and leaf tobacco having elasticities close to unity. Cigarettes were the least price elastic of all. With some assumptions, it is shown that the tax on bidis can be increased to Rs. 100 per 1000 sticks compared with the current Rs. 14 and the tax on an average cigarette can be increased to Rs. 3.5 per stick without any fear of losing revenue. The paper argues that the current system of taxing cigarettes in India based on the presence of filters and the length of cigarettes has no justification on health grounds, and should be abolished, if reducing tobacco consumption and the consequent disease burden is one of the objectives of tobacco taxation policy. It also argues that attempts to regulate tobacco use without effecting significant tax increases on bidis may not produce desired results.

  16. Transfer prices assignment with integrated production and marketing optimization models

    Directory of Open Access Journals (Sweden)

    Enrique Parra

    2018-04-01

    Full Text Available Purpose: In decentralized organizations (today a great majority of the large multinational groups, much of the decision-making power is in its individual business units-BUs-. In these cases, the management control system (MCS uses transfer prices to coordinate actions of the BUs and to evaluate their performance with the goal of guaranteeing the whole corporation optimum. The purpose of the investigation is to design transfer prices that suit this goal. Design/methodology/approach: Considering the results of the whole company supply chain optimization models (in the presence of seasonality of demand the question is to design a mechanism that creates optimal incentives for the managers of each business unit to drive the corporation to the optimal performance. Mathematical programming models are used as a start point. Findings: Different transfer prices computation methods are introduced in this paper for decentralised organizations with two divisions (production and marketing. The methods take into account the results of the solution of the whole company supply chain optimization model, if exists, and can be adapted to the type of information available in the company. It is mainly focused on transport costs assignment. Practical implications: Using the methods proposed in this paper a decentralized corporation can implement more accurate transfer prices to drive the whole organization to the global optimum performance. Originality/value: The methods proposed are a new contribution to the literature on transfer prices with special emphasis on the practical and easy implementation in a modern corporation with several business units and with high seasonality of demand. Also, the methods proposed are very flexible and can be tuned depending on the type of information available in the company.

  17. Oil Production, The Price Crash and Uncertainty in Climate Change

    Science.gov (United States)

    Murray, J. W.

    2015-12-01

    World oil production increased to about 74 million barrels per day by January 2005, and was fairly constant until 2011 when it started to increase to 77.8 mb/d in 2014. This spectacular increase of 4 mb/d was almost entirely due to a sharp increase in production in the US from shale formations, called light tight oil (LTO). World oil production minus this increase in US LTO Production has been flat since 2005 at about 74 mb/d. When US production starts to decline, world oil production likely will as well. That surge is forecast to end soon because LTO is expensive to produce, the first year decline rates are extremely high requiring many new wells each year to maintain or increase production and the most productive locations have already been drilled. It is unprofitable for the Exploration and Production (E&P) companies. Full-year free cash flow has been negative for most tight oil E&P companies since 2009. The total negative cash flow for the 19 largest E&P companies totaled 10.5B in 2014. The surge in US LTO production created an imbalance in global supply and demand and resulted in a 50% decrease in the price of oil. The tight-oil producers who were are financially marginal at an oil price greater than 90 per barrel are even more so at the lower price. As a result the surge in US production of LTO is declining, making it unlikely that world oil production will exceed the present value of about 28 Gb/yr (equivalent to 75 mb/d) (175 EJ/yr). Many of the SRES (IPCC Special Report on Emission Scenarios) and RCP (IPCC Representative Concentration Pathways) projections (especially RCP 8.5 and 6) require CO2 emissions due to oil consumption in the range of 32 Gb/yr to 57 Gb/yr (200 to 350 EJ/yr). The higher values would require a doubling of world oil production. It is highly uncertain whether the higher CO2 scenarios will be reached. This is an element of uncertainty missing from most considerations of future climate change.

  18. 76 FR 67793 - Notification of Expanded Pricing Grid for Precious Metals Products Containing Platinum and Gold...

    Science.gov (United States)

    2011-11-02

    ... in the Federal Register on January 6, 2009, outlining the new pricing methodology for numismatic... the gold numismatic products. Pricing of Numismatic Products Containing Gold Coins American American....00 \\1/4\\ oz 828.00 \\1/10\\ oz 345.50 4 coins 5,990.50 Pricing of Numismatic Products Containing...

  19. An Investigation into the Fundamental Drivers of Pricing of Residential Mortgage Products – A Risk Pricing Viewpoint

    Directory of Open Access Journals (Sweden)

    Harry M Karamujic

    2010-12-01

    Full Text Available Residential mortgage products (also known as home loans pricing has been long understood to be something of a ‘dark art’, requiring judgment and experience, rather than being an exact science. In the last decade, a lot has changed in this field and more and more lenders, primarily the larger lenders, are increasingly looking to make their pricing as exact as possible. Even so, inadequate pricing of residential mortgage products (in particular its substandard risk pricing has been seen as one of major causes of the global financial crisis (GFC and subsequent spectacular banking collapses. The underlying theme of the paper is to exhibit how contemporary lenders, in practice, price their residential mortgage products. While discussing elements of the pricing calculation particular attention was given to the exposition of how contemporary lenders price risks involved in providing home loans. Because of the importance of Basel capital accords to how financial institutions assess and quantify their risks, the paper provides an overview of Basel capital accords. The author envisages that the paper will (i help enhance comprehension of the underlying elements of the pricing calculation and the ways in which these elements relate to each other, (ii scrutinize how contemporary lenders identify and quantify risks and (iii improve consciousness of future changes in interest rates

  20. Cooperation needed for securing Japan's imports of refined products from neighbors

    International Nuclear Information System (INIS)

    Koyama, Yasuo; Ogawa, Yoshike

    1996-01-01

    As of April 1996, Japan repealed the Provisional Law on Importation of Specified Petroleum Products (Plispp), thus further freeing imports from regulation. Since the dawn of the 1990s, Asia has suffered an imbalance of soaring oil demand and lack of refining capacity. In addition, to intraregional trade, product imports from outside the region, such as the US West Coast and the Mediterranean Sea, have expanded. Given such conditions in Asia, as well as japan's stringent product specifications for environmental reasons, potential exporters of the three specified products (gasoline, diesel, and kerosene) in Asia should virtually be limited to the Republic of Korea (ROK), Taiwan, and Singapore. This study is designed to make an in-depth examination of the current and future supply/demand and trade for refined products of the three countries with respect to Japan's potential import needs

  1. Processing Trade, Productivity and Prices: Evidence from a Chinese Production Survey

    DEFF Research Database (Denmark)

    Li, Yao Amber; Smeets, Valerie; Warzynski, Frederic

    to be less efficient than firms only involved on the domestic market based on the standard revenue productivity measure. However, we show strong positive export premium when we instead consider physical productivity. The simple and intuitive explanation of our results is that exporters charge on average...... lower prices. We focus more particularly on the role of processing trade and find that price differences are especially (and probably not surprisingly) large for firms involved in this type of contractual arrangements....

  2. Operator Product Formulas in the Algebraic Approach of the Refined Topological Vertex

    International Nuclear Information System (INIS)

    Cai Li-Qiang; Wang Li-Fang; Wu Ke; Yang Jie

    2013-01-01

    The refined topological vertex of Iqbal—Kozçaz—Vafa has been investigated from the viewpoint of the quantum algebra of type W 1+∞ by Awata, Feigin, and Shiraishi. They introduced the trivalent intertwining operator Φ which is normal ordered along with some prefactors. We manage to establish formulas from the infinite operator product of the vertex operators and the generalized ones to restore this prefactor, and obtain an explicit formula for the vertex realization of the topological vertex as well as the refined topological vertex

  3. Pricing for finished products of the enterprise: accounting and analytical aspect

    Directory of Open Access Journals (Sweden)

    N.L. Pravdyuk

    2017-03-01

    Full Text Available The pricing policy chosen by the enterprise in respect of goods and finished products of own production, has a decisive influence on the formation of financial results. In modern economic conditions we need to strengthen managerial decisions on the choice and carrying out price policy and a means of solving this problem is accounting. To determine the boundaries and competence of decision-making we analyzed the regulation of these terms and processes, as well as the dynamics of the stocks across sectors of the economy, the consumer price index, producer price index, the price index of realization of industrial products. Widely used data analytical reviews of the national Bank of Ukraine, enterprises' expectations regarding efficiency, the analysis of financial market indicators, etc. Established that the provision of information management pricing of goods shall conform to the requirements of the economy, by deepening complexity of accounting, to ensure the needs of consumers. According to the study substantiates the basics of accounting and analytical aspect of the pricing policy for finished products businesses. In the study of pricing policies in respect of goods in accounting and analytical aspect, we have established the following. The existing normative-legal acts and definitions of researchers on economic and accounting analysis of the concept give a sufficiently wide interpretation, which depends on the orientation and activity of the enterprise. Factors and points of influence on the efficiency of the pricing policy are: information support of process of pricing assessment of pricing factors, establish the objectives of price policy, assessment of customer demand, cost analysis, competition analysis, selecting a pricing method that measures the price adjustment, the evaluation price risk. The economic impact of the market environment is the most significant to the pricing policy of agricultural enterprises, which revealed the analysis

  4. Product differentiation, competition and prices in the retail gasoline industry

    Science.gov (United States)

    Manuszak, Mark David

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

  5. Production, prices, employment, and trade in Northwest forest industries, all quarters 2012

    Science.gov (United States)

    Xiaoping Zhou

    2013-01-01

    Provides current information on lumber and plywood production and prices; employment in the forest industries; international trade in logs, lumber, and plywood; volume and average prices of stumpage sold by public agencies; and other related items.

  6. Production, prices, employment, and trade in Northwest forest industries, all quarters 2013

    Science.gov (United States)

    Xiaoping Zhou

    2015-01-01

    Provides current information on lumber and plywood production and prices; employment in the forest industries; international trade in logs, lumber, and plywood; volume and average prices of stumpage sold by public agencies; and other related items.

  7. Production, prices, employment, and trade in Northwest forest industries, all quarters 2011

    Science.gov (United States)

    Xiaoping Zhou; Debra D Warren

    2012-01-01

    Provides current information on lumber and plywood production and prices; employment in the forest industries; international trade in logs, lumber, and plywood; volume and average prices of stumpage sold by public agencies; and other related items.

  8. Production, prices, employment, and trade in Northwest forest industries, all quarters 2014

    Science.gov (United States)

    Xiaoping Zhou; Jean M. Daniels

    2018-01-01

    Provides current information on lumber and plywood production and prices; employment in the forest industries; international trade in logs, lumber, and plywood; volume and average prices of stumpage sold by public agencies; and other related items.

  9. Global modelling to predict timber production and prices: the GFPM approach

    Science.gov (United States)

    Joseph Buongiorno

    2014-01-01

    Timber production and prices are determined by the global demand for forest products, and the capability of producers from many countries to grow and harvest trees, transform them into products and export. The Global Forest Products Model (GFPM) simulates how this global demand and supply of multiple products among many countries determines prices and attendant...

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

    Science.gov (United States)

    Chen, Yuting; Zhang, Rong

    2017-01-01

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

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

    Directory of Open Access Journals (Sweden)

    Yuting Chen

    2017-09-01

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

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

    Science.gov (United States)

    Chen, Yuting; Zhang, Rong; Liu, Bin

    2017-09-20

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

  13. 76 FR 21947 - Credit for Renewable Electricity Production, Refined Coal Production, and Indian Coal Production...

    Science.gov (United States)

    2011-04-19

    ..., open-loop biomass, geothermal energy, solar energy, small irrigation power, municipal solid waste, qualified hydropower production, marine and hydrokinetic renewable energy have not been determined for... electricity produced from closed-loop biomass, open-loop biomass, geothermal energy, solar energy, small...

  14. 75 FR 16576 - Credit for Renewable Electricity Production, Refined Coal Production, and Indian Coal Production...

    Science.gov (United States)

    2010-04-01

    ..., open-loop biomass, geothermal energy, solar energy, small irrigation power, municipal solid waste, qualified hydropower production, marine and hydrokinetic renewable energy have not been determined for... electricity produced from closed-loop biomass, open-loop biomass, geothermal energy, solar energy, small...

  15. Productivity growth and price regulation of Slovenian water distribution utilities

    Directory of Open Access Journals (Sweden)

    Jelena Zorić

    2010-06-01

    Full Text Available This paper aims to analyse the price regulation method and performance of thewater industry in Slovenia. A stochastic cost frontier model is employed to estimate and decompose the total factor productivity (TFP growth of water distribution utilities in the 1997-2003 period. The main goal is to find out whether the lack of proper incentives to improve performance has resulted in the low TFP growth of Slovenian water distribution utilities. The evidence suggests that cost inefficiencies are present in water utilities, which indicates considerable cost saving potential in the analysed industry. Technical change is found to have positively affected the TFP growth over time, while cost inefficiency levels remained essentially unchanged. Overall, the average annual TFP growth in the analysed period is estimated to be only slightly above zero, which is a relatively poor result. This can largely be contributed to the present institutional and regulatory setting that does not stimulate utilities to improve productivity. Therefore, the introduction of an independent regulatory agency and an incentive-based price regulation scheme should be seriously considered in order to enhance the performance of Slovenian water distribution utilities.

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

    Science.gov (United States)

    Suki, Norazah Mohd

    2013-01-01

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

  17. Oil company profitability: observations on the use of oil product price assessments and associated errors

    International Nuclear Information System (INIS)

    Jenkins, Gilbert

    2000-01-01

    Oil companies often report the exact price obtained for crude oil sales. Furthermore, crude oil prices may be linked to the price of Brent crude oil which is actively and very transparently traded on the International Petroleum Exchange. Brent crude oil prices are reported worldwide electronically and in many newspapers on a daily basis. Gas oil (No. 2 Fuel oil in the USA) is actively traded on the IPE and on NYMEX and the prices are also reported worldwide almost instantaneously. One grade of unleaded gasoline is traded on NYMEX but all other oil products do not have regulated and transparent markets. The prices of these products are assessed by price reporters following daily discussions with active oil traders. Two prices are assessed and reported, the bid (low) and offer (high) even if no trade has taken place. The oil industry itself and oil products consumers make much use of these assessed prices. The object of this paper is to provide some statistical detail on the differences between various product price assessments made through 2000. From these differences, it is possible to provide an indication of the precision of oil product price assessments However, it is doubtful if precision data based on a simple determination of the standard deviation of the differences between the assessment made by the various price reporting services would be of practical use. (Author)

  18. 77 FR 65279 - Domestic Competitive Products Pricing and Mailing Standards Changes

    Science.gov (United States)

    2012-10-26

    ... POSTAL SERVICE 39 CFR Part 111 Domestic Competitive Products Pricing and Mailing Standards Changes... and mailing standards for the following competitive products: Express Mail[supreg], Priority Mail.... SUPPLEMENTARY INFORMATION: This final rule describes new prices and product features for competitive products...

  19. How German Online Retailers Price Foods: An Empirical Analysis for Chocolate Products

    Directory of Open Access Journals (Sweden)

    Svetlana Fedoseeva

    2017-01-01

    Full Text Available Despite the increasing importance of online grocery retailing, little is known about price dispersion across online providers, the relation between online and offline prices as well as the frequency of price adjustments. We employ means of descriptive and inductive statistics as well as panel econometrics to address these issues for German online food retailers. Daily online prices for twelve chocolate products charged by eight pure online and multichannel retailers and collected over three months are investigated. Information economics suggests that a maturing online market will call forth more price homogeneity online due to lower search costs by consumers as well as more flexible prices due to lower costs of price adjustments by retailers. Our results suggest, however, that neither homogenous prices nor frequent price adjustments do occur on the German online chocolate market.

  20. Price

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

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

  1. 77 FR 64725 - International Product and Price Changes

    Science.gov (United States)

    2012-10-23

    ... Postage or a permit imprint, (i.e., Click-N-Ship for Business, Webtools) must pay the retail price... Commercial Base TM price and Commercial Plus TM price for customers that prepare and pay for GXG shipments... at least $100,000 in revenue per year for not only GXG, Express Mail International, Priority Mail...

  2. Price promotions and products with low consumer ratings

    OpenAIRE

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

    2016-01-01

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

  3. Food product prices and its implications for food security in Nigeria ...

    African Journals Online (AJOL)

    PROMOTING ACCESS TO AFRICAN RESEARCH ... The study examined the prices of food products and its implications for food security in Nigeria. Data was ... The study show that food price inflation is caused by frequent hike in the prices of ...

  4. 78 FR 25784 - Re-pricing of Several Silver Coin Products

    Science.gov (United States)

    2013-05-02

    ... DEPARTMENT OF THE TREASURY United States Mint Re-pricing of Several Silver Coin Products AGENCY: United States Mint, Department of the Treasury. ACTION: Notice. SUMMARY: Because of the recent decrease in the market price of silver, the United States Mint is lowering the price of several numismatic...

  5. 78 FR 41195 - Re-pricing of Several Silver Coin Products

    Science.gov (United States)

    2013-07-09

    ... DEPARTMENT OF THE TREASURY United States Mint Re-pricing of Several Silver Coin Products AGENCY: United States Mint, Department of the Treasury. ACTION: Notice. SUMMARY: Because of the recent decrease in the market price of silver, the United States Mint is lowering the price of several silver coin...

  6. The role of price as a product attribute in the organic food context

    DEFF Research Database (Denmark)

    Marian, Livia; Chrysochou, Polymeros; Krystallis Krontalis, Athanasios

    2014-01-01

    High prices are often quoted as an obstacle to consumer purchase of organic food products. This article investigates the market performance of organic food products at different price levels and whether high price is necessarily a disadvantage for organic food products, especially with regard to ...... products (i.e. there is a spillover of high price organic food purchases to other product categories). Implications for pricing strategies for organic food products are discussed.......High prices are often quoted as an obstacle to consumer purchase of organic food products. This article investigates the market performance of organic food products at different price levels and whether high price is necessarily a disadvantage for organic food products, especially with regard...... to generating repeat purchase. Based on analyses of panel purchase data from 2011 in Denmark, the study explores the effects of production method (organic vs. conventional) and price on consumers’ repeat purchase and cross-purchase across four product categories: red meat, chicken, milk and hard cheese. Results...

  7. Entropy, pricing and productivity of pumped-storage

    Science.gov (United States)

    Karakatsanis, Georgios; Tyralis, Hristos; Tzouka, Katerina

    2016-04-01

    Pumped-storage constitutes today a mature method of bulk electricity storage in the form of hydropower. This bulk electricity storability upgrades the economic value of hydropower as it may mitigate -or even neutralize- stochastic effects deriving from various geophysical and socioeconomic factors, which produce numerous load balance inefficiencies due to increased uncertainty. Pumped-storage further holds a key role for unifying intermittent renewable (i.e. wind, solar) units with controllable non-renewable (i.e. nuclear, coal) fuel electricity generation plants into integrated energy systems. We develop a set of indicators for the measurement of performance of pumped-storage, in terms of the latter's energy and financial contribution to the energy system. More specifically, we use the concept of entropy in order to examine: (1) the statistical features -and correlations- of the energy system's intermittent components and (2) the statistical features of electricity demand prediction deviations. In this way, the macroeconomics of pumped-storage emerges naturally from its statistical features (Karakatsanis et al. 2014). In addition, these findings are combined to actual daily loads. Hence, not only the amount of energy harvested from the pumped-storage component is expected to be important, but the harvesting time as well, as the intraday price of electricity varies significantly. Additionally, the structure of the pumped-storage market proves to be a significant factor as well for the system's energy and financial performance (Paine et al. 2014). According to the above, we aim at postulating a set of general rules on the productivity of pumped-storage for (integrated) energy systems. Keywords: pumped-storage, storability, economic value of hydropower, stochastic effects, uncertainty, energy systems, entropy, intraday electricity price, productivity References 1. Karakatsanis, Georgios et al. (2014), Entropy, pricing and macroeconomics of pumped-storage systems

  8. Study of mechanism on microstructure refinement during compact strip production process

    International Nuclear Information System (INIS)

    Yu Hao; Kang Yonglin; Wang Kelu; Fu Jie; Wang Zhongbing; Liu Delu

    2003-01-01

    In this study, microstructures of 1.9 mm hot strip steel produced by compact strip production (CSP) are investigated by using optical metallograph observation and electron back-scattered diffraction (EBSD) data to deduce the status of hot rolled austenite before phase transformation, because the evolution of hot rolled austenite is important to provide information for the microstructure refinement. The experimental results show that the finishing hot rolled microstructure is a mixture of recrystallized and deformed austenite, and the percentage of recrystallized austenite is greater than that of the deformed austenite. At last, microstructure evolution of austenite is modeled based on chemical compositions and techniques of producing 1.9 mm hot strip. The simulation results agree well with experimental data. Analysis shows that microstructure refinement, recrystallization and supercooling rate are the primary causes to fine microstructure

  9. Refining of crude uranium by solvent extraction for production of nuclear pure uranium metal

    International Nuclear Information System (INIS)

    Gupta, S.K.; Manna, S.; Singha, M.; Hareendran, K.N.; Chowdhury, S.; Satpati, S.K.; Kumar, K.

    2007-01-01

    Uranium is the primary fuel material for any nuclear fission energy program. Natural uranium contains only 0.712% of 235 U as fissile constituent. This low concentration of fissile isotope in natural uranium calls for a very high level of purity, especially with respect to neutron poisons like B, Cd, Gd etc. before it can be used as nuclear fuel. Solvent extraction is a widely used technique by which crude uranium is purified for reactor use. Uranium metal plant (UMP), BARC, Trombay is engaged in refining of uranium concentrate for production of nuclear pure uranium metal for fabrication of fuel for research reactors. This paper reviews some of the fundamental aspects of this refining process with some special references to UMP, BARC. (author)

  10. Production price of hydrogen from grid connected electrolysis in a power market with high wind penetration

    International Nuclear Information System (INIS)

    Joergensen, Claus; Ropenus, Stephanie

    2008-01-01

    In liberalized power markets, there are significant power price fluctuations due to independently varying changes in demand and supply, the latter being substantial in systems with high wind power penetration. In such systems, hydrogen production by grid connected electrolysis can be cost optimized by operating an electrolyzer part time. This paper presents a study on the minimization of the hydrogen production price and its dependence on estimated power price fluctuations. The calculation of power price fluctuations is based on a parameterization of existing data on wind power production, power consumption and power price evolution in the West Danish power market area. The price for hydrogen is derived as a function of the optimal electrolyzer operation hours per year for four different wind penetration scenarios. It is found to amount to 0.41-0.45 EUR/Nm 3 . The study further discusses the hydrogen price sensitivity towards investment costs and the contribution from non-wind power sources. (author)

  11. Production price of hydrogen from grid connected electrolysis in a power market with high wind penetration

    Energy Technology Data Exchange (ETDEWEB)

    Joergensen, Claus [Materials Research Department, Risoe National Laboratory for Sustainable Energy, Technical University of Denmark, P.O. Box 49, Frederiksborgvej 399, DK-4000 Roskilde (Denmark); Ropenus, Stephanie [Systems Analysis Department, Risoe National Laboratory for Sustainable Energy, Technical University of Denmark, P.O. Box 49, Frederiksborgvej 399, DK-4000 Roskilde (Denmark)

    2008-10-15

    In liberalized power markets, there are significant power price fluctuations due to independently varying changes in demand and supply, the latter being substantial in systems with high wind power penetration. In such systems, hydrogen production by grid connected electrolysis can be cost optimized by operating an electrolyzer part time. This paper presents a study on the minimization of the hydrogen production price and its dependence on estimated power price fluctuations. The calculation of power price fluctuations is based on a parameterization of existing data on wind power production, power consumption and power price evolution in the West Danish power market area. The price for hydrogen is derived as a function of the optimal electrolyzer operation hours per year for four different wind penetration scenarios. It is found to amount to 0.41-0.45 EUR/Nm{sup 3}. The study further discusses the hydrogen price sensitivity towards investment costs and the contribution from non-wind power sources. (author)

  12. Production price of hydrogen from grid connected electrolysis in a power market with high wind penetration.

    Energy Technology Data Exchange (ETDEWEB)

    Joergensen, Claus [Materials Research Department, Risoe National Laboratory for Sustainable Energy, Technical University of Denmark, P.O. Box 49, Frederiksborgvej 399, DK-4000 Roskilde (Denmark); Ropenus, Stephanie [Systems Analysis Department, Risoe National Laboratory for Sustainable Energy, Technical University of Denmark, P.O. Box 49, Frederiksborgvej 399, DK-4000 Roskilde (Denmark)

    2008-10-15

    In liberalized power markets, there are significant power price fluctuations due to independently varying changes in demand and supply, the latter being substantial in systems with high wind power penetration. In such systems, hydrogen production by grid connected electrolysis can be cost optimized by operating an electrolyzer part time. This paper presents a study on the minimization of the hydrogen production price and its dependence on estimated power price fluctuations. The calculation of power price fluctuations is based on a parameterization of existing data on wind power production, power consumption and power price evolution in the West Danish power market area. The price for hydrogen is derived as a function of the optimal electrolyzer operation hours per year for four different wind penetration scenarios. It is found to amount to 0.41-0.45 EUR/Nm{sup 3}. The study further discusses the hydrogen price sensitivity towards investment costs and the contribution from non-wind power sources. (author)

  13. Policy Brief: Petroleum product pricing reforms in India. Are we on the right track?

    Energy Technology Data Exchange (ETDEWEB)

    Agarwal, Pravin Kumar; Soni, Anmol

    2013-03-15

    The path to petroleum product pricing reforms in India has been full of undulations. Even though Administered Pricing Mechanism (APM) was dismantled during 1 April 1998 to 31 March 2002, the government continued to regulate the prices of petrol, diesel, Public distribution System (PDS) kerosene, and domestic LPG, except for over a year, when oil marketing companies (OMCs) revised the consumer prices of petrol and diesel in line with the international prices. In June 2010, petrol pricing was deregulated, but government control continued to an extent. This control of petroleum product prices has not only severely affected the fiscal balance of the economy, but has also adversely impacted the oil companies (both upstream and downstream), eventually affecting the overall development of the sector. In fact, the impact of petroleum product subsidies has compelled the government to announce certain reforms in the past few months.

  14. Law proposition aiming to establish the double display of sale prices of petroleum products

    International Nuclear Information System (INIS)

    Vannson, F.

    2006-03-01

    Petroleum products are submitted to the internal tax (called TIPP in France) and the sales tax (called TVA in France). The TVA product is increasing proportionally to the petroleum products prices. On the other hand the TIPP product, which is five time as much high as the TVA, is proportional to the consumed volumes and decreases proportionally with the consumption decrease, resulting from the prices increase. In a framework of transparency for the consumers, and to reveal the importance of the taxes in the hydrocarbons prices, it should be desirable to display the sale prices without and with the taxes. Here are the objectives of this law proposition. (A.L.B.)

  15. Price promotions for food and beverage products in a nationwide sample of food stores.

    Science.gov (United States)

    Powell, Lisa M; Kumanyika, Shiriki K; Isgor, Zeynep; Rimkus, Leah; Zenk, Shannon N; Chaloupka, Frank J

    2016-05-01

    Food and beverage price promotions may be potential targets for public health initiatives but have not been well documented. We assessed prevalence and patterns of price promotions for food and beverage products in a nationwide sample of food stores by store type, product package size, and product healthfulness. We also assessed associations of price promotions with community characteristics and product prices. In-store data collected in 2010-2012 from 8959 food stores in 468 communities spanning 46 U.S. states were used. Differences in the prevalence of price promotions were tested across stores types, product varieties, and product package sizes. Multivariable regression analyses examined associations of presence of price promotions with community racial/ethnic and socioeconomic characteristics and with product prices. The prevalence of price promotions across all 44 products sampled was, on average, 13.4% in supermarkets (ranging from 9.1% for fresh fruits and vegetables to 18.2% for sugar-sweetened beverages), 4.5% in grocery stores (ranging from 2.5% for milk to 6.6% for breads and cereals), and 2.6% in limited service stores (ranging from 1.2% for fresh fruits and vegetables to 4.1% for breads and cereals). No differences were observed by community characteristics. Less-healthy versus more-healthy product varieties and larger versus smaller product package sizes generally had a higher prevalence of price promotion, particularly in supermarkets. On average, in supermarkets, price promotions were associated with 15.2% lower prices. The observed patterns of price promotions warrant more attention in public health food environment research and intervention. Copyright © 2016 Elsevier Inc. All rights reserved.

  16. Identification of refined petroleum products in contaminated soils using an identification index for GC chromatograms.

    Science.gov (United States)

    Kwon, Dongwook; Ko, Myoung-Soo; Yang, Jung-Seok; Kwon, Man Jae; Lee, Seung-Woo; Lee, Seunghak

    2015-08-01

    Hydrocarbons found in the environment are typically characterized by gas chromatography (GC). The shape of the GC chromatogram has been used to identify the source of petroleum contamination. However, the conventional practice of simply comparing the peak patterns of source products to those of environmental samples is dependent on the subjective decisions of individual analysts. We have developed and verified a quantitative analytical method for interpreting GC chromatograms to distinguish refined petroleum products in contaminated soils. We found that chromatograms for gasoline, kerosene, and diesel could be divided into three ranges with boundaries at C6, C8, C16, and C26. In addition, the relative peak area (RPA(GC)) of each range, a dimensionless ratio of the peak area within each range to that of the total range (C6-C26), had a unique value for each petroleum product. An identification index for GC chromatograms (ID(GC)), defined as the ratio of RPA(GC) of C8-C16 to that of C16-C26, was able to identify diesel and kerosene sources in samples extracted from artificially contaminated soils even after weathering. Thus, the ID(GC) can be used to effectively distinguish between refined petroleum products in contaminated soils.

  17. Analysis of solvent dyes in refined petroleum products by electrospray ionization mass spectrometry

    Science.gov (United States)

    Rostad, C.E.

    2010-01-01

    Solvent dyes are used to color refined petroleum products to enable differentiation between gasoline, diesel, and jet fuels. Analysis for these dyes in the hydrocarbon product is difficult due to their very low concentrations in such a complex matrix. Flow injection analysis/electrospray ionization/mass spectrometry in both negative and positive mode was used to optimize ionization of ten typical solvent dyes. Samples of hydrocarbon product were analyzed under similar conditions. Positive electrospray ionization produced very complex spectra, which were not suitably specific for targeting only the dyes. Negative electrospray ionization produced simple spectra because aliphatic and aromatic moieties were not ionized. This enabled screening for a target dye in samples of hydrocarbon product from a spill.

  18. Japan's refiner/marketers headed for major shakeout

    International Nuclear Information System (INIS)

    Anon.

    1996-01-01

    Japan's downstream oil industry is in a state of crisis and headed for a major shakeout. The major catalyst for this was a dramatic deregulation step during April 1996 that allowed refined petroleum product imports by non-refiners. The move, together with a sharp drop in refining margins, falling retail gasoline prices, and a service station sector on the brink of collapse, are all leading to massive changes in the way the country's refiners and marketers do business. This paper reviews the collapse of corporate profits during this period of deregulation; the development of a new price system geared toward bringing the prices of gasoline, fuel oil, and kerosene into line with each other to offset the fall in gasoline prices; and industry restructuring including mergers, acquisitions, and marketing consolidation. The paper then makes predictions on the outcome of these changes on the Japanese oil industry

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

    Directory of Open Access Journals (Sweden)

    Antonio Cezar Bornia

    2008-07-01

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

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

    International Nuclear Information System (INIS)

    Chattopadhyay, Manojit; Kumar Mitra, Subrata

    2015-01-01

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

  1. Prices over the Product Life Cycle: Implications for Quality-Adjustment and the Measurement of Inflation

    OpenAIRE

    Daniel Melser; Iqbal A. Syed

    2013-01-01

    The paper explores the extent to which products follow systematic pricing patterns over their life cycle and the impact this has on the measurement of inflation. Using a large US scanner data set on supermarket products and applying exible regression methods, we find that on average prices decline as items age. This life cycle price change is often attributed to quality difference in the construction of CPI as items are replaced due to disappearance and at sample rotations. This introduces a ...

  2. The impact of energy prices on industrial energy efficiency and productivity

    International Nuclear Information System (INIS)

    Boyd, G.A.

    1993-01-01

    Energy prices moved into the forefront of concern in the mid and late seventies when two oil price shocks drove up energy prices dramatically. The analysis of the subsequent increase in industrial energy efficiency, i.e., decline in energy use per unit of industrial output, has filled volumes of government and private studies. Despite the volumes of analysis, there remains no consensus on the magnitude of the effect of energy prices on industrial energy efficiency or the effect of the change in energy prices on productivity. This paper examines some sources of the controversy to initiate a dialog between policy makers, analysts, and the energy consumers and producers

  3. The demand for refined petroleum products in Iran: Estimation and projection

    International Nuclear Information System (INIS)

    Kianian, A.M.

    1990-01-01

    The estimation and projection of the demand for refined petroleum products of the OPEC states, are important for the world petroleum market from both the demand and supply sides. In this context, this study forms an econometric model to estimte the demand for the total and four major refined petroleum products (RPPs) in Iran and project their future trends into the year 2000. The fact that Iran has the largest domestic demand for RPPs among all the OPEC members has motivated some research primarily to study the structure of the demand for such products. None, however, has utilized econometric models to estimate or project the demand for RPPs. The first section of this study discusses the structure of the Iranian energy market. Next, the demand functions for gasoline, kerosine, gas oil, fuel oil, and the total RPPs in Iran are estimated. The third section puts together the demand functions to form a model used to project the demand for RPPs up to the year 2000 under an historical scenario. Finally, some condlusions are offered. 7 tabs

  4. 75 FR 69334 - International Product and Price Changes

    Science.gov (United States)

    2010-11-12

    ... illustrate Global Express Guaranteed and Express Mail International permit imprints.] [GRAPHIC] [TIFF OMITTED.... Priority Mail Gift Card Flat Rate Priority Mail DVD Box, 7\\9/ Envelope, 10'' x 7'', Item EP 14-GT. 16\\'' x... appropriate Price Group table based on the prices below:] BILLING CODE P [[Page 69340

  5. Microeconomics of the Productivity, Price Indicators and Farm Incomes. Analytical Approach

    Directory of Open Access Journals (Sweden)

    Włodzimierz Rembisz

    2011-07-01

    Full Text Available The paper develops a farm producer behavior type model to analyze the impact of a input productivity and price change on farm incomes. The theoretical analysis shows the consequences of the balance between the increase of production factor prices and their productivity improvement in the condition of stable procurement price for the farm producers income. The cost effect of the production factors price increment and its neutralization by productivity (TFP-type growth is examined as well as some aspects of the inputs shares (returns and costs in the produce value. The article argues that labor input productivity as an endogenous factor, is an essential for farm incomes growth assuming the specified type of the farm producer utility function (its equations and variables as well as no the compensative procurement price change conditions. Some empirical evidence is attached however more work in that respect is foreseen.

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

    OpenAIRE

    Keeheon Lee; Hoyeop Lee; Chang Ouk Kim

    2014-01-01

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

  7. Analysis of alternative methods and price politic of icewine production

    Directory of Open Access Journals (Sweden)

    V. Ostapenko

    2017-06-01

    Full Text Available The artificial methods of must concentration were discussed in current study: the microwave vacuum dehydration, reverse osmosis and cryoextraction. The main factor of using of alternative ways is deficiently low temperatures in winter period that are necessary for freezing grapes on vine according to the classical technology. The benefits and disadvantages of using of non-classic processes to obtain sweet musts were shown. The physical, chemical and sensory characteristics of wine made from grapes previously frozen by alternative and natural ways were analyzed. Indicators influencing on price of icewines and dessert wines bottle including agricultural climatic, technological and marketing factors were determined.  Detailed indicators highlight specificity of used technology and represent consumer preferences. Producers of winemaking regions of Argentina, New Zealand, Israel, Ukraine and Australia adhere to provisions that are inconsistent with the standards of Canada and the European countries regarding the icewine output. These instruments determine the processing of grapes and parameters reflect on parameters of the finished product.

  8. EFFECT OF REFINED PETROLEUM PRODUCTS CONTAMINATION ON BACTERIAL POPULATION AND PHYSICOCHEMICAL CHARACTERISTICS OF CULTIVATED AGRICULTURAL SOIL

    Directory of Open Access Journals (Sweden)

    Adewale Sogo Olalemi

    2012-10-01

    Full Text Available An investigation into the effect of refined petroleum products contamination on bacterial population and physicochemical characteristics of cultivated agricultural soil was carried out. The soil samples obtained from the Teaching and Research Farm, Obakekere, Federal University of Technology, Akure, Ondo State were contaminated with varying volumes of petrol, diesel and kerosene. The results revealed higher bacterial populations in uncontaminated soils than contaminated soils. The counts of bacteria ranged from 3.0 × 105 to 5.0 × 105 cfu/g in uncontaminated soils and 1.0 × 105 to 3.0 × 105 cfu/g in contaminated soils. The isolated bacteria were identified as Bacillus subtilis, Flavobacterium lutescens, Micrococcus luteus, Corynebacterium variabilis, Pseudomonas fluorescens. The contamination had no significant effect on pH, potassium, sodium, organic carbon and nitrogen content of the soils, while the moisture, calcium, phosphorus and magnesium content of the contaminated soils were significantly different (P < 0.05 compared with the uncontaminated soils. The ability of Bacillus subtilis, Flavobacterium lutescens, Micrococcus luteus, and Pseudomonas fluorescens to utilize the refined petroleum products suggest that these bacteria had potential to bioremediate petroleum contaminated soils.

  9. Effects of anchoring and adjustment in the evaluation of product pricing.

    Science.gov (United States)

    Elaad, Eitan; Sayag, Neta; Ezer, Aliya

    2010-08-01

    Anchoring and adjustment comprise a heuristic that creates expectations. Two types of anchors were applied on participants' evaluation of products: the price reference of the product (maximum, minimum, or no price reference) and the context in which the products were evaluated (the prestige of the shopping center). Results showed that both factors anchored evaluations of products' value. Context effects were explained by the different expectations of visitors in prestigious (looking for quality) and less prestigious (seeking a bargain) centers.

  10. Joint pricing and production management: a geometric programming approach with consideration of cubic production cost function

    Science.gov (United States)

    Sadjadi, Seyed Jafar; Hamidi Hesarsorkh, Aghil; Mohammadi, Mehdi; Bonyadi Naeini, Ali

    2015-06-01

    Coordination and harmony between different departments of a company can be an important factor in achieving competitive advantage if the company corrects alignment between strategies of different departments. This paper presents an integrated decision model based on recent advances of geometric programming technique. The demand of a product considers as a power function of factors such as product's price, marketing expenditures, and consumer service expenditures. Furthermore, production cost considers as a cubic power function of outputs. The model will be solved by recent advances in convex optimization tools. Finally, the solution procedure is illustrated by numerical example.

  11. Transfer prices assignment with integrated production and marketing optimization models

    OpenAIRE

    Enrique Parra

    2018-01-01

    Purpose: In decentralized organizations (today a great majority of the large multinational groups), much of the decision-making power is in its individual business units-BUs-. In these cases, the management control system (MCS) uses transfer prices to coordinate actions of the BUs and to evaluate their performance with the goal of guaranteeing the whole corporation optimum. The purpose of the investigation is to design transfer prices that suit this goal. Design/methodology/approach: Cons...

  12. Optimal Pricing Strategies for New Products in Dynamic Oligopolies

    OpenAIRE

    Engelbert Dockner; Steffen Jørgensen

    1988-01-01

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

  13. Joint Ordering and Pricing Decisions for New Repeat-Purchase Products

    OpenAIRE

    Wu, Xiang; Zhang, Jinlong

    2015-01-01

    This paper studies ordering and pricing problems for new repeat-purchase products. We incorporate the repeat-purchase rate and price effects into the Bass model to characterize the demand pattern. We consider two decision models: (1) two-stage decision model, in which the sales division chooses a price to maximize the gross profit and the purchasing division determines an optimal ordering decision to minimize the total cost under a given demand subsequently, and (2) joint decision model, in w...

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

    OpenAIRE

    Chenavaz, Régis; Paraschiv, Corina; Turinici, Gabriel

    2017-01-01

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

  15. EFFECTS OF OIL AND NATURAL GAS PRICES ON INDUSTRIAL PRODUCTION IN THE EUROZONE MEMBER COUNTRIES

    Directory of Open Access Journals (Sweden)

    Yılmaz BAYAR

    2014-04-01

    Full Text Available Industrial production is one of the leading indicators of gross domestic product which reflects the overall economic performance of a country. In other words decreases or increases in industrial production point out a contracting or expanding economy. Therefore, changes in prices of oil and natural gas which are the crucial inputs to the industrial production are also important for the overall economy. This study examines the effects of changes in oil and natural gas prices on the industrial production in the 18 Eurozone member countries during the period January 2001-September 2013 by using panel regression. We found that oil prices and natural gas prices had negative effect on industrial production in the Eurozone member countries.

  16. Petroleum price

    International Nuclear Information System (INIS)

    Chevallier, B.

    2009-01-01

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

  17. Effective Heuristics for Capacitated Production Planning with Multiperiod Production and Demand with Forecast Band Refinement

    OpenAIRE

    Philip Kaminsky; Jayashankar M. Swaminathan

    2004-01-01

    In this paper we extend forecast band evolution and capacitated production modelling to the multiperiod demand case. In this model, forecasts of discrete demand for any period are modelled as bands and defined by lower and upper bounds on demand, such that future forecasts lie within the current band. We develop heuristics that utilize knowledge of demand forecast evolution to make production decisions in capacitated production planning environments. In our computational study we explore the ...

  18. The analysis of indiference and the price elasticity of demand between different categories of agricultural products

    Directory of Open Access Journals (Sweden)

    Vukadinović Predrag

    2017-01-01

    Full Text Available In this paper, the analysis of the price elasticity of demand of four different categories of agricultural products in the Republic of Serbia was described. Differentiating the price and demand of these products by sales points, and using the least squares approximation method, the elasticity for all different agricultural categories was expressed in the functional form. According to this, the coefficients of elasticity of the price and demand were computed and between different agricultural categories were analyzed. The results we obtained show that the market of agricultural products in Serbia is mostly inelastic because the coefficients of inelasticity and indifference of demand to change of prices, are dominant. The influence of factors on the elasticity of demand that are not of price character, proved to be very pronounced. The relationship of the two segments of agricultural market (markets and shops was also analysed and it was demonstrated that these two segments have a slight correlation.

  19. OPEC's production under fluctuating oil prices. Further test of the target revenue theory

    International Nuclear Information System (INIS)

    Ramcharran, H.

    2001-01-01

    Oil production cutbacks in recent years by OPEC members to stabilize price and to increase revenues warrant further empirical verification of the target revenue theory (TRT). We estimate a modified version of Griffin (1985) target revenue model using data from 1973 to 2000. The sample period, unlike previous investigations, includes phases of both price increase (1970s) and price decrease (1980s-1990s), thus providing a better framework for examining production behavior. The results, like the earlier study, are not supportive of the strict version of the TRT, however, evidence (negative and significant elasticity of supply) of the partial version are substantiated. Further empirical estimates do not support the competitive pricing model, hypothesizing a positive elasticity of supply. OPEC's loss of market share and the drop in the share of oil-based energy should signal an adjustment in pricing and production strategies

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

    OpenAIRE

    Hobbs, Jill E.; Kerr, William A.

    2006-01-01

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

  1. Decomposing productivity growth allowing efficiency gains and price-induced technical progress

    NARCIS (Netherlands)

    Oude Lansink, A.G.J.M.; Silva, E.; Stefanou, S.

    2000-01-01

    Time- and firm-specific output technical efficiency measures are generated within a price-induced technological change framework. The firm-specific production frontier incorporates past prices as an argument encouraging innovation and a time trend to account for exogenous technical change. The

  2. Internalizing external environmental costs of agriculture into product prices, Case study for milk and potatoes

    NARCIS (Netherlands)

    Masselink, Dirk Jan

    2007-01-01

    Society has to pay large amounts of money to compensate for the environmental damages caused by farm emissions. These external costs are not fully accounted for in product prices and internalization of these external costs into the cost price of agricultu

  3. 75 FR 13345 - Pricing for Certain 2010 United States Mint Products

    Science.gov (United States)

    2010-03-19

    ... DEPARTMENT OF THE TREASURY United States Mint Pricing for Certain 2010 United States Mint Products AGENCY: United States Mint, Department of the Treasury. ACTION: Notice. SUMMARY: The United States Mint is announcing the price of the 2010 United States Mint Presidential $1 Coin and First Spouse Medal...

  4. Estimating the Efficiency and Impacts of Petroleum Product Pricing Reforms in China

    Directory of Open Access Journals (Sweden)

    Chuxiong Deng

    2018-04-01

    Full Text Available The efficiency and effects analysis of a new pricing mechanism would have significant policy implications for the further design of a pricing mechanism in an emerging market. Unlike most of the existing literature, which focuses on the impacts to the macro-economy, this paper firstly uses an econometrics model to discuss the efficiency of the new pricing mechanism, and then establishes an augmented Phillips curve to estimate the impact of pricing reform on inflation in China. The results show that: (1 the new pricing mechanism would strengthen the linkage between Chinese oil prices and international oil prices; (2 oil price adjustments are still inadequate in China. (3 The lag in inflation is the most important factor that affects inflation, while the impact of the Chinese government’s price adjustments on inflation is limited and insignificant. In order to improve the efficiency of the petroleum products pricing mechanism and shorten lags, government should shorten the adjustment period and diminish the fluctuation threshold.

  5. APPLICATION OF DEEP LEARNING IN GLOBELAND30-2010 PRODUCT REFINEMENT

    Directory of Open Access Journals (Sweden)

    T. Liu

    2018-04-01

    Full Text Available GlobeLand30, as one of the best Global Land Cover (GLC product at 30-m resolution, has been widely used in many research fields. Due to the significant spectral confusion among different land cover types and limited textual information of Landsat data, the overall accuracy of GlobeLand30 is about 80 %. Although such accuracy is much higher than most other global land cover products, it cannot satisfy various applications. There is still a great need of an effective method to improve the quality of GlobeLand30. The explosive high-resolution satellite images and remarkable performance of Deep Learning on image classification provide a new opportunity to refine GlobeLand30. However, the performance of deep leaning depends on quality and quantity of training samples as well as model training strategy. Therefore, this paper 1 proposed an automatic training sample generation method via Google earth to build a large training sample set; and 2 explore the best training strategy for land cover classification using GoogleNet (Inception V3, one of the most widely used deep learning network. The result shows that the fine-tuning from first layer of Inception V3 using rough large sample set is the best strategy. The retrained network was then applied in one selected area from Xi’an city as a case study of GlobeLand30 refinement. The experiment results indicate that the proposed approach with Deep Learning and google earth imagery is a promising solution for further improving accuracy of GlobeLand30.

  6. Application of Deep Learning in GLOBELAND30-2010 Product Refinement

    Science.gov (United States)

    Liu, T.; Chen, X.

    2018-04-01

    GlobeLand30, as one of the best Global Land Cover (GLC) product at 30-m resolution, has been widely used in many research fields. Due to the significant spectral confusion among different land cover types and limited textual information of Landsat data, the overall accuracy of GlobeLand30 is about 80 %. Although such accuracy is much higher than most other global land cover products, it cannot satisfy various applications. There is still a great need of an effective method to improve the quality of GlobeLand30. The explosive high-resolution satellite images and remarkable performance of Deep Learning on image classification provide a new opportunity to refine GlobeLand30. However, the performance of deep leaning depends on quality and quantity of training samples as well as model training strategy. Therefore, this paper 1) proposed an automatic training sample generation method via Google earth to build a large training sample set; and 2) explore the best training strategy for land cover classification using GoogleNet (Inception V3), one of the most widely used deep learning network. The result shows that the fine-tuning from first layer of Inception V3 using rough large sample set is the best strategy. The retrained network was then applied in one selected area from Xi'an city as a case study of GlobeLand30 refinement. The experiment results indicate that the proposed approach with Deep Learning and google earth imagery is a promising solution for further improving accuracy of GlobeLand30.

  7. Product-line selection and pricing with remanufacturing under availability constraints

    Science.gov (United States)

    Aras, Necati; Esenduran, G.÷k.‡e.; Altinel, I. Kuban

    2004-12-01

    Product line selection and pricing are two crucial decisions for the profitability of a manufacturing firm. Remanufacturing, on the other hand, may be a profitable strategy that captures the remaining value in used products. In this paper we develop a mixed-integer nonlinear programming model form the perspective of an original equipment manufacturer (OEM). The objective of the OEM is to select products to manufacture and remanufacture among a set of given alternatives and simultaneously determine their prices so as to maximize its profit. It is assumed that the probability a customer selects a product is proportional to its utility and inversely proportional to its price. The utility of a product is an increasing function of its perceived quality. In our base model, products are discriminated by their unit production costs and utilities. We also analyze a case where remanufacturing is limited by the available quantity of collected remanufacturable products. We show that the resulting problem is decomposed into the pricing and product line selection subproblems. Pricing problem is solved by a variant of the simplex search procedure which can also handle constraints, while complete enumeration and a genetic algorithm are used for the solution of the product line selection problem. A number of experiments are carried out to identify conditions under which it is economically viable for the firm to sell remanufactured products. We also determine the optimal utility and unit production cost values of a remanufactured product, which maximizes the total profit of the OEM.

  8. Price rigidity in the downstream petroleum industry in New Zealand. Where does it happen?

    International Nuclear Information System (INIS)

    Delpachitra, Sarath B.

    2002-01-01

    This paper examines the pricing behaviour of the downstream petroleum product market in New Zealand using multivariate error correction models. The unique feature of these models is the use of actual weekly wholesale and retail prices of diesel and unleaded petrol to measure the relative rigidity of domestic prices. The results suggest that price adjustments in domestic markets in response to price changes in world crude oil markets and refined product markets are very weak. Domestic wholesale prices appear to be the key variable in determining retail prices. Lack of competition in the wholesale sector is found to be the main reason for weak price adjustments

  9. Price rigidity in the downstream petroleum industry in New Zealand: where does it happen?

    International Nuclear Information System (INIS)

    Delpachitra, S.B.

    2002-01-01

    This paper examines the pricing behaviour of the downstream petroleum product market in New Zealand using multivariate error correction models. The unique feature of these models is the use of actual weekly wholesale and retail prices of diesel and unleaded petrol to measure the relative rigidity of domestic prices. The results suggest that price adjustments in domestic markets in response to price changes in world crude oil markets and refined product markets are very weak. Domestic wholesale prices appear to be the key variable in determining retail prices. Lack of competition in the wholesale sector is found to be the main reason for weak price adjustments. (author)

  10. Potential Applications of Gosat Based Carbon Budget Products to Refine Terrestrial Ecosystem Model

    Science.gov (United States)

    Kondo, M.; Ichii, K.

    2011-12-01

    Estimation of carbon exchange in terrestrial ecosystem associates with difficulties due to complex entanglement of physical and biological processes: thus, the net ecosystem productivity (NEP) estimated from simulation often differs among process-based terrestrial ecosystem models. In addition to complexity of the system, validation can only be conducted in a point scale since reliable observation is only available from ground observations. With a lack of large spatial data, extension of model simulation to a global scale results in significant uncertainty in the future carbon balance and climate change. Greenhouse gases Observing SATellite (GOSAT), launched by the Japanese space agency (JAXA) in January, 2009, is the 1st operational satellite promised to deliver the net land-atmosphere carbon budget to the terrestrial biosphere research community. Using that information, the model reproducibility of carbon budget is expected to improve: hence, gives a better estimation of the future climate change. This initial analysis is to seek and evaluate the potential applications of GOSAT observation toward the sophistication of terrestrial ecosystem model. The present study was conducted in two processes: site-based analysis using eddy covariance observation data to assess the potential use of terrestrial carbon fluxes (GPP, RE, and NEP) to refine the model, and extension of the point scale analysis to spatial using Carbon Tracker product as a prototype of GOSAT product. In the first phase of the experiment, it was verified that an optimization routine adapted to a terrestrial model, Biome-BGC, yielded the improved result with respect to eddy covariance observation data from AsiaFlux Network. Spatial data sets used in the second phase were consists of GPP from empirical algorithm (e.g. support vector machine), NEP from Carbon Tracker, and RE from the combination of these. These spatial carbon flux estimations was used to refine the model applying the exactly same

  11. On price equilibrium with multi-product firms

    NARCIS (Netherlands)

    Z. Sándor (Zsolt)

    2004-01-01

    textabstractIn this paper we provide a result that shows existence and uniqueness of Nash equilibrium in cases in which existent methods are problematic to apply. We employ this result to the model with simple logit demand, and show existence and uniqueness of price equilibrium when firms produce

  12. Exploratory study on the effect of discount pricing strategies for new product introduction

    Science.gov (United States)

    Mat Zaib, Nurul Afiqah; Bazin, Nor Erne Nazira; Mustaffa, Noorfa Haszlinna

    2013-04-01

    Rapid introduction of new product into the market has resulted in growing competition between retailers. Nowadays, retailers compete with one another in order to increase revenue and to maintain their position in the marketplace. This situation has forced the retailers to enhance their strategic management as well as creating competitive advantages. Generally, this situation can be observed in highly demanded product such as fashion goods and high technology electronic devices (smart phone, notebook). The consequence from the intense competition and new product introduction is difficulties in retailers pricing management. Retailers are now facing with complexity in making decisions on suitable pricing strategies and discount level for new product in association with the product life cycle. Thus, this research aims to investigate the suitable discount pricing strategies that can be integrated in every phase of product life cycle. This paper presents relationships between the discount pricing and the stages in the product life cycle in the form of conceptual diagram and mathematical expression. A system dynamic approach is used for developing the conceptual diagram and formulating the mathematical expression for the discount pricing strategies to visualize the relationship between discount pricing and product life cycle.

  13. Cleaning oil refining drainage waters out of emulsified oil products with thermic treated cedar nut shell

    Science.gov (United States)

    Pyatanova, P. A.; Adeeva, L. N.

    2017-08-01

    It was elaborated the ability of the sorbent produced by thermic treatment of cedar nut shell to destruct model and real first kind (direct) emulsions in static and dynamic conditions. In static conditions optimal ratio sorbent-emulsion with the original concentration of oil products 800 mg/l was in the range of 2.0 g per 100 ml of emulsion which corresponds to the level of treatment 94.9%. The time of emulsion destruction was 40 minutes. This sorbent is highly active in dynamic processes of oil-contaminated water treatment, the level of treatment 96.0% is being achieved. Full dynamic sorptive capacity of the sorbent is 0.85 g/g. Sorbent based on the thermic treated cedar nut shell can be elaborated as sorptive filter element of local treatment facilities of oil refining and petrochemical processes. After the treatment with this sorbent of drainage waters of oil refinery in dynamic conditions the concentration of oil products became less than mpc on oil products for waste waters coming to biological treatment.

  14. BioRefine. New biomass products programme 2007-2012. Final report

    Energy Technology Data Exchange (ETDEWEB)

    Makinen, T. (ed.) [VTT Technical Research Centre of Finland, Espoo (Finland); Alakangas, E.; Holviala, N. (eds.) [VTT Technical Research Centre of Finland, Jyvaskyla (Finland)

    2012-07-01

    The focal areas of the BioRefine programme have been business development, raw materials, and product lines. The key issue in the programme has been the development of business opportunities. The other two programme areas - raw materials and product lines, including technologies and services - have always been viewed from the perspective of short, medium or long-term business activities.The programme has organised four calls for research projects. The focus of the first call was on biomass-based fuels for transport (in the autumn 2007), the second one focused on other biomass-based products like chemicals and materials (in the spring 2008), and the third one on new biomass sources and waste-based biomass, and research supporting the business development of SME companies (early in 2010). In the last call in the spring 2011, project proposals were expected to focus on the following areas: new innovative and multidisciplinary research initiatives related to biomass utilisation, small distributed biorefinery concepts, efficient and sustainable utilisation of biomass raw materials in new integrated solutions for biorefining, and new integrated solutions for the efficient utilisation of sidestreams in the biorefining value chain or in its parts. Unlike research organizations, companies have been able to apply for funding continuously from Tekes.

  15. Spanish Refining

    International Nuclear Information System (INIS)

    Lores, F.R.

    2001-01-01

    An overview of petroleum refining in Spain is presented (by Repsol YPF) and some views on future trends are discussed. Spain depends heavily on imports. Sub-headings in the article cover: sources of crude imports, investments and logistics and marketing, -detailed data for each are shown diagrammatically. Tables show: (1) economic indicators (e.g. total GDP, vehicle numbers and inflation) for 1998-200; (2) crude oil imports for 1995-2000; (3) oil products balance for 1995-2000; (4) commodities demand, by product; (5) refining in Spain in terms of capacity per region; (6) outlets in Spain and other European countries in 2002 and (7) sales distribution channel by product

  16. Production of Al-Ti-C grain refiners with the addition of elemental carbon

    International Nuclear Information System (INIS)

    Gezer, Berke Turgay; Toptan, Fatih; Daglilar, Sibel; Kerti, Isil

    2010-01-01

    Grain refining process used in aluminium alloys, has an important role for preventing columnar, coarse grains and encouraging fine, equiaxed grain formation. Al-Ti-B grain refiners are widely used as aluminium grain refiners despite the problems in application Al-Ti-C refiners have an increasing demand in recent years. In the present work, Al-Ti-C grain refiners with different Ti:C ratios were produced by insitu method with the addition of elemental carbon. Microstructures were characterised by optic microscope and scanning electron microscope equipped with energy dispersive spectroscopy. The effects of temperature, holding time and Ti:C ratio on the grain refinement process were investigated and optimum conditions were determined.

  17. Method of preparing an Al-Ti-B grain refiner for aluminium-comprising products, and a method of casting aluminium products

    OpenAIRE

    Brinkman, H.J.; Duszczyk, J.; Katgerman, L.

    1999-01-01

    The invention relates to a method of preparing an Al-Ti-B grain refiner for cast aluminium-comprising products. According to the invention the preparation is realized by mixing powders selected from the group comprising aluminium, titanium, boron, and alloys and intermetallic compounds thereof, compressing, heating in an inert environment until an exothermic reaction is initiated and cooling. It has been shown that when the grain refiner thus prepared is applied, the quality of cast products ...

  18. Oil production, oil prices, and macroeconomic adjustment under different wage assumptions

    International Nuclear Information System (INIS)

    Harvie, C.; Maleka, P.T.

    1992-01-01

    In a previous paper one of the authors developed a simple model to try to identify the possible macroeconomic adjustment processes arising in an economy experiencing a temporary period of oil production, under alternative wage adjustment assumptions, namely nominal and real wage rigidity. Certain assumptions were made regarding the characteristics of actual production, the permanent revenues generated from that oil production, and the net exports/imports of oil. The role of the price of oil, and possible changes in that price was essentially ignored. Here we attempt to incorporate the price of oil, as well as changes in that price, in conjunction with the production of oil, the objective being to identify the contribution which the price of oil, and changes in it, make to the adjustment process itself. The emphasis in this paper is not given to a mathematical derivation and analysis of the model's dynamics of adjustment or its comparative statics, but rather to the derivation of simulation results from the model, for a specific assumed case, using a numerical algorithm program, conducive to the type of theoretical framework utilized here. The results presented suggest that although the adjustment profiles of the macroeconomic variables of interest, for either wage adjustment assumption, remain fundamentally the same, the magnitude of these adjustments is increased. Hence to derive a more accurate picture of the dimensions of adjustment of these macroeconomic variables, it is essential to include the price of oil as well as changes in that price. (Author)

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

    Science.gov (United States)

    Laing, R O; McGoldrick, K M

    2000-12-01

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

  20. 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

  1. Life Cycle Price Trends and Product Replacement: Implications for the Measurement of Inflation

    OpenAIRE

    Daniel Melser; Iqbal A. Syed

    2014-01-01

    The paper explores the extent to which products follow systematic pricing patterns over their life cycle and the impact this has on the measurement of inflation. Using a large US scanner data set on supermarket products and applying flexible regression methods, we find that on average prices decline as items age. This life cycle price change is often attributed to quality difference in the construction of CPI as items are replaced due to disappearance or during sample rotations. This introduces a...

  2. Value added product recovery from sludge generated during gum arabic refining process by vermicomposting.

    Science.gov (United States)

    Das, Veena; Satyanarayan, Sanjeev; Satyanarayan, Shanta

    2016-09-01

    Gum arabic is multifunctional and used in food products, pharmaceutical, confectionery, cosmetic, printing and textile industry. Gum arabic has an excellent market and its production is being increased to meet the market demand. In the process, huge quantity of solid waste is generated during its refining process. An attempt has been made to vermicompost this organic waste using Eudrilus eugeniae. This research work is first of its kind. Literature on this substrate has not been reported anywhere else for vermicomposting. Results were excellent with volatile solid reduction of 51.34 %; C/N ratio reduced to 16.31 % indicating efficient loss of carbon as carbon dioxide during vermicomposting period. Manurial value, i.e. nitrogen, phosphorus and potassium content in the range, required for the plants also increased. Porosity of 67.74 % and water holding capacity of 65.75 % were observed. The maturity of the vermicompost was evaluated through scanning electron microscopy wherein the complete conversion of large raw material particles into finer particles forming a uniform matrix with more surface area was observed indicating its efficient conversion. Microbial quality of vermicompost was also studied. The final vermicompost is free of fungal cells and pathogenic bacteria.

  3. Is Power Production Flexibility a Substitute for Storability? Evidence from Electricity Futures Prices

    Energy Technology Data Exchange (ETDEWEB)

    Kilic, M.; Huisman, R. [Erasmus School of Economics, Erasmus University Rotterdam, Rotterdam (Netherlands)

    2010-07-15

    Electricity is not storable. As a consequence, electricity demand and supply need to be in balance at any moment in time as a shortage in production volume cannot be compensated with supply from inventories. However, if the installed power supply capacity is very flexible, variation in demand can be counterbalanced with flexible adjustment of production volumes. Therefore, supply flexibility can replace the role of inventory. In this paper, we question whether power production flexibility is a substitute for storability. To do so, we examine power futures prices from countries that differ in their power supply and test whether power futures prices contain information about expected future spot prices and risk premiums and examine whether futures prices from a market in which power supply is more flexible would lead to futures prices that are more in line with the theory of storage. We find the opposite; futures prices from markets with flexible power supply behave according to the expectations theory. The implicit view from futures prices is that flexibility is not a substitute for storability.

  4. Is Power Production Flexibility a Substitute for Storability? Evidence from Electricity Futures Prices

    International Nuclear Information System (INIS)

    Kilic, M.; Huisman, R.

    2010-07-01

    Electricity is not storable. As a consequence, electricity demand and supply need to be in balance at any moment in time as a shortage in production volume cannot be compensated with supply from inventories. However, if the installed power supply capacity is very flexible, variation in demand can be counterbalanced with flexible adjustment of production volumes. Therefore, supply flexibility can replace the role of inventory. In this paper, we question whether power production flexibility is a substitute for storability. To do so, we examine power futures prices from countries that differ in their power supply and test whether power futures prices contain information about expected future spot prices and risk premiums and examine whether futures prices from a market in which power supply is more flexible would lead to futures prices that are more in line with the theory of storage. We find the opposite; futures prices from markets with flexible power supply behave according to the expectations theory. The implicit view from futures prices is that flexibility is not a substitute for storability.

  5. The Impact of Product Price Changes on the Turnover of Small and Medium Enterprises in Nigeria

    Directory of Open Access Journals (Sweden)

    Imoleayo Foyeke Obigbemi

    2010-05-01

    Full Text Available Pricing decision has been a crucial decision made by all business enterprises at all levels and has posed a great challenge for Small and Medium Enterprises in Nigeria. This research work treats the impact of change in price on the sales turnover of organizations, a study of SMEs in Nigeria. The methodology adopted was the survey and empirical approach, with the administration of questionnaires to some SMEs in Nigeria, evaluating the effect change in product price has on turnover. Primary and secondary sources were used to in collecting data. It was discovered that there is a relationship between change in cost of sales and turnover. Recommendations were made for the close monitoring of SMEs and that SMEs should employ the service of price experts when making pricing decisions.

  6. Organic vs. Non-Organic Food Products: Credence and Price Competition

    OpenAIRE

    Yi Wang; Zhanguo Zhu; Feng Chu

    2017-01-01

    We analyze the organic and non-organic production choices of two firms by considering customers’ trust in organic food products. In the context of customers’ possible willingness to pay a premium price and their mistrust in organic food products, two firms first make choices on offering organic and non-organic food products. If offering organic products, a firm can further invest in the credence system to increase customers’ trust in their organic products. At the final stage, two firms deter...

  7. Implementation of fuzzy logic to determining selling price of products in a local corporate chain store

    Science.gov (United States)

    Kristiana, S. P. D.

    2017-12-01

    Corporate chain store is one type of retail industries companies that are developing growing rapidly in Indonesia. The competition between retail companies is very tight, so retailer companies should evaluate its performance continuously in order to survive. The selling price of products is one of the essential attributes and gets attention of many consumers where it’s used to evaluate the performance of the industry. This research aimed to determine optimal selling price of product with considering cost factors, namely purchase price of the product from supplier, holding costs, and transportation costs. Fuzzy logic approach is used in data processing with MATLAB software. Fuzzy logic is selected to solve the problem because this method can consider complexities factors. The result is a model of determination of the optimal selling price by considering three cost factors as inputs in the model. Calculating MAPE and model prediction ability for some products are used as validation and verification where the average value is 0.0525 for MAPE and 94.75% for prediction ability. The conclusion is this model can predict the selling price of up to 94.75%, so it can be used as tools for the corporate chain store in particular to determine the optimal selling price for its products.

  8. The oil barrel price

    International Nuclear Information System (INIS)

    Blondy, J.; Papon, P.

    2009-01-01

    This paper proposes an overview and a prospective glance on the oil barrel price. It indicates the relevant indicators: Brent quotation, euro/dollar parity, economic activity indicators, world oil consumption distribution, crude oil production, refining capacity. It briefly presents the involved stake holders: crude oil producers, oil refiners, refined product dealers, and the OPEC. It discusses the major retrospective trends: evolution in relationship with geopolitical events and energy policies, strong correlation between oil demand and economic growth, prevalence of OPEC, growing importance of national oil companies. An emerging trend is noticed: growing role of emerging countries on the crude market. Some prospective issues are discussed: duration and intensity of economic recession, separation between economic growth and energy consumption, pace and ambition level of policies of struggle against climate change, exploitable resources, and geopolitical hazards. Four evolution hypotheses are discussed

  9. Joint Ordering and Pricing Decisions for New Repeat-Purchase Products

    Directory of Open Access Journals (Sweden)

    Xiang Wu

    2015-01-01

    Full Text Available This paper studies ordering and pricing problems for new repeat-purchase products. We incorporate the repeat-purchase rate and price effects into the Bass model to characterize the demand pattern. We consider two decision models: (1 two-stage decision model, in which the sales division chooses a price to maximize the gross profit and the purchasing division determines an optimal ordering decision to minimize the total cost under a given demand subsequently, and (2 joint decision model, in which the firm makes ordering and pricing decisions simultaneously to maximize the profit. We combine the generalized Bass model with dynamic lot sizing model to formulate the joint decision model. We apply both models to a specific imported food provided by an online fresh produce retailer in Central China, solve them by Gaussian Random-Walk and Wagner-Whitin based algorithms, and observe three results. First, joint pricing and ordering decisions bring more significant profits than making pricing and ordering decisions sequentially. Second, a great initiative in adoption significantly increases price premium and profit. Finally, the optimal price shows a U-shape (i.e., decreases first and increases later relationship and the profit increases gradually with the repeat-purchase rate when it is still not very high.

  10. ANALYSIS OF SUPPLY RESPONSE AND PRICE RISK ON RICE PRODUCTION IN NIGERIA

    Directory of Open Access Journals (Sweden)

    Opeyemi Eyitayo Ayinde

    2017-03-01

    Full Text Available  Nigeria, like most African countries, has engaged in agricultural liberalization since 1986 in the hope that reforms emphasizing price incentives will encourage producers to respond. Thus far, the reforms seem to have introduced greater uncertainty into the market given increasing rates of price volatility. This study amongst other things therefore seeks to determine and model the responsiveness of rice supply to price risk in Nigeria. Statistical information on domestic and imported quantities of rice was obtained for 41 years (1970 to 2011 from various sources, such as the Food and Agriculture Organization (FAO database, Federal Ministry of Agriculture statistical bulletins, Central Bank of Nigeria statistical bulletins and National Bureau of Statistic (NBS. Data were analyzed using equilibrium output supply function, co-integration models, and vector autoregressive distributed lag model. Rice importation was statistically significant and changes in output were also responsive to changes in price. The results indicate that producers are more responsive not only to price and non-price factor but also to price risk and exchange rate. It is therefore imperative to reduce the effects of price risk as to increase the response of producer to supply by bridging the gap in production

  11. Crystallography of waxes - an electron diffraction study of refined and natural products

    Science.gov (United States)

    Dorset, Douglas L.

    1997-02-01

    The crystal structure of four waxes has been investigated by electron crystallography. Two of these waxes, including a refined petroleum product (Gulfwax) and a material from lignite (montan wax), form well ordered crystals and their structure could be solved quantitatively from the observed 0022-3727/30/3/018/img1 diffraction patterns. As also found previously for simpler binary n-paraffin solid solutions, the average structure resembles that of a pure paraffin (e.g. n-0022-3727/30/3/018/img2) but with a Gaussian distribution of atomic occupancies near the chain ends to account for the statistical distribution of chain lengths within a lamella. Two other waxes from living organisms, South African bee honeycomb and the leaves of the Brazilian carnauba palm, are much less ordered, even though they share the same methylene subcell packing of the most crystalline parts of the previous materials. It appears that these waxes cannot fully separate into distinct lamellae, perhaps due to the presence of very long `tie' molecules, and are therefore `frustrated' crystal structures.

  12. Production of alkyl-aromatics from light oxygenates over zeolite catalysts for bio-oil refining

    Science.gov (United States)

    Hoang, Trung Q.

    in aromatic yield. Further improvement of aromatization and catalyst lifetime was also found with ZnHZSM-5 wherein the Zn evidently modifies the acidity. These model compound results show that the optimized use of zeolites for production of alkyl aromatics from light oxygenates at mild conditions may be effective for bio-oil refining.

  13. Contracting Fashion Products Supply Chains When Demand Is Dependent on Price and Sales Effort

    OpenAIRE

    Wei, Ying; Xiong, Liyang

    2015-01-01

    This paper investigates optimal decisions in a two-stage fashion product supply chain under two specified contracts: revenue-sharing contract and wholesale price contract, where demand is dependent on retailing price and sales effort level. Optimal decisions and related profits are analyzed and further compared among the cases where the effort investment fee is determined and undertaken either by the retailer or the manufacturer. Results reveal that if the retailer determines the effort inves...

  14. Production Costs of Alternative Transportation Fuels. Influence of Crude Oil Price and Technology Maturity

    Energy Technology Data Exchange (ETDEWEB)

    Cazzola, Pierpaolo; Morrison, Geoff; Kaneko, Hiroyuki; Cuenot, Francois; Ghandi, Abbas; Fulton, Lewis

    2013-07-01

    This study examines the production costs of a range of transport fuels and energy carriers under varying crude oil price assumptions and technology market maturation levels. An engineering ''bottom-up'' approach is used to estimate the effect of the input cost of oil and of various technological assumptions on the finished price of these fuels. In total, the production costs of 20 fuels are examined for crude oil prices between USD 60 and USD 150 per barrel. Some fuel pathways can be competitive with oil as their production, transport and storage technology matures, and as oil price increases. Rising oil prices will offer new opportunities to switch to alternative fuels for transport, to diversify the energy mix of the transport sector, and to reduce the exposure of the whole system to price volatility and potential distuption of supply. In a time of uncertainty about the leading vehicle technology to decarbonize the transport sector, looking at the fuel cost brings key information to be considered to keep mobility affordable yet sustainable.

  15. Impact of variable renewable production on electricity prices in Germany: a Markov switching model

    International Nuclear Information System (INIS)

    Martin de Lagarde, Cyril; Lantz, Frederic

    2016-01-01

    This paper aims at assessing the impact of renewable energy sources (RES) production on electricity spot prices. To do so, we use a two-regime Markov Switching (MS) model, that enables to disentangle the so-called 'merit-order effect' due to wind and solar photovoltaic productions (used in relative share of the electricity demand), depending on the price being high or low. We find that there are effectively two distinct price regimes that are put to light thanks to an inverse hyperbolic sine transformation that allows to treat negative prices. We also show that these two regimes coincide quite well with two regimes for the electricity demand (load). Indeed, when demand is low, prices are low and the merit-order effect is lower than when prices are high, which is consistent with the fact that the inverse supply curve is convex (i.e. has increasing slope). To illustrate this, we computed the mean marginal effects of RES production and load. On average, an increase of 1 GW of wind will decrease the price in regime 1 (resp. 2) by 0.77 euro /MWh (resp. 1 euro /MWh). The influence of solar is slightly weaker, as an extra gigawatt lowers the price of 0.73 euro /MWh in period 1, and 0.96 euro /MWh in regime 2. On the contrary, if the demand increases by 1 GW in regime 1 (resp. 2), the price increases on average by 0.93 euro /MWh (resp. 1.18 euro /MWh). Although we made sure these marginal effects are significantly different from one another, they are much more variable than the estimated coefficients of the model. Also, note that these marginal effects are only valid inside each regime when there is no switching. The latter regime partly corresponds to the high load regime, at the exception of periods during which RES production is high. The impact on volatility could also be observed: the variance of the (transformed) price is higher during the high-price regime than in the low-price one. In addition to the switching of the coefficients, we allowed the probabilities of

  16. Organic vs. Non-Organic Food Products: Credence and Price Competition

    Directory of Open Access Journals (Sweden)

    Yi Wang

    2017-04-01

    Full Text Available We analyze the organic and non-organic production choices of two firms by considering customers’ trust in organic food products. In the context of customers’ possible willingness to pay a premium price and their mistrust in organic food products, two firms first make choices on offering organic and non-organic food products. If offering organic products, a firm can further invest in the credence system to increase customers’ trust in their organic products. At the final stage, two firms determine prices. We provide serval insights. First, we characterize the market conditions in which only one firm, both firms or neither firm will choose to offer organic food products. We find that the higher the production costs or credence investment costs for organic food products are, the more likely firms are to choose to produce non-organic food products. Second, if it is expensive enough to invest in organic credence, offering organic food products may still be uncompetitive, even if organic production cost appears to have no disadvantage compared to non-organic food products. Third, we highlight how the prices of organic food products in equilibrium are affected by market parameters. We show that when only one firm offers organic food products, this firm tends to offer a relatively low price if organic credence investment is expensive. Fourth, we highlight how one firm’s credence investment decision in equilibrium can be affected by the product type choice of the other firm. We find that the investment in organic credence is lower when both firms offer organic food products compared with the case when only one firm offers organic food products.

  17. The impact of ethanol production on food prices: The role of interplay between the U.S. and Brazil

    International Nuclear Information System (INIS)

    Monteiro, Nathalia; Altman, Ira; Lahiri, Sajal

    2012-01-01

    Food prices have increased rapidly in recent years, and so has ethanol production. Some studies have claimed that there is a connection between the two. The main purpose of this paper is to add to this literature by examining the influence that the interplay between Brazil and the U.S. in ethanol production has on food prices. Specifically, and controlling for other variables, which have been shown to affect food prices, we investigate whether sugarcane ethanol and corn ethanol production have similar impacts on food prices, and whether ethanol productivity affects food prices. We find a positive significant effect of Brazilian market share in world ethanol market on relative food prices. We also find that an increase of Brazilian cane ethanol area has a negative effect on relative food prices. - Highlights: ► We examine if sugarcane ethanol and corn ethanol have similar impacts on food price. ► We examine if ethanol productivity affects food prices. ► We control for many other variables, which have been shown to affect food prices. ► Brazilian market share in ethanol market has a positive effect on food prices. ► Brazilian cane ethanol area has a negative effect on relative food prices.

  18. IDENTIFYING PRODUCT AND PRICE STRATEGIES FOR DESIGNING TRANSACTIONAL BANKING PACKAGES ADDRESSED TO SMES (CONSIDERATIONS

    Directory of Open Access Journals (Sweden)

    Giuca Simona-Mihaela

    2014-07-01

    Full Text Available The current paper has the aim to provide guidelines for designing efficient product and price strategies, through proposed business cases which could be used especially for banking products addressed to SMEs. While identifying the optimal product and price strategy and designing the product catalogue structure, the marketing specialist should definitely consider existing portfolio behaviour and estimate the growing potential (if possible, overall portfolio, with focus on accurately defining the additional impact of the newly proposed product/ products. A business case contains estimations for results to be generated by products to be launched or optimized. This paper presents complex schemes for business case scenarios for migration of existing portfolio to the new products, but also considers new clients acquisition based on important features of the products. The pricing strategy is not a simple task to manage. Especially when speaking about transactional packages (for which the price is lower than separate services included, some segments or clusters may generate loss to the bank if they already used the services at a higher price than the one of the package. Therefore, the decision of setting up specific prices needs to be based on an accurate and complex analysis, as presented in current paper. The assumptions used in a business case need to be relevant for the entire process of designing and launching a product, therefore they can always be adjusted for better calculation of the impact. No matter if the assumptions and prices remain as in the initial proposal or not, the steps to be followed are the same. Segmentation also plays an important role in designing the product strategy, since the target for a product or product catalogue can be represented by a segment, a sub segment or a cluster of many segments. Not always the initial segmentation represents the clustering for the product strategy. Sometimes, behaviour of existing clients

  19. The Impact of Supply Chain Cost on the Price of the Final Product

    Directory of Open Access Journals (Sweden)

    Indrė Lapinskaitė

    2014-06-01

    Full Text Available Nowadays, as consumption and production are growing enormously fast, companies are seeking for costs reduction aimed at ensuring competitiveness. In manufacturing companies, supply chain expenses play a colossal role in the cost of the final product. This paper focuses on the main processes in the logistics chain and their components. The authors analyse the relationship between the sup- ply chain expenses and the price of the final product, the classification of logistics chain costs and their minimization as an assumption for the competitiveness of the final price.

  20. Determination of the fuel component in the cost price of the energy production in NPP

    International Nuclear Information System (INIS)

    Lakov, M.; Velev, V.

    1997-01-01

    An approach is proposed for the determination of the fuel component in the cost price of the nuclear units production with regards of the difference between the time of the fuel consumption and the energy production. This method gives the opportunity for fuel consumption prognostication, as well as an optimization of both short and long term fueling regimes. This approach permits current update of the economic conditions and the pre-history of the investments. It can be used both for the determination of the fuel component and the full cost price of the energy production in NPPs.(author)

  1. Tobacco product prices before and after a statewide tobacco tax increase.

    Science.gov (United States)

    Brock, Betsy; Choi, Kelvin; Boyle, Raymond G; Moilanen, Molly; Schillo, Barbara A

    2016-03-01

    In 2013, the State of Minnesota Legislature passed a tobacco tax increase that increased the combined cigarette excise and sales tax by US$1.75 (from US$1.60 to US$3.35) and increased the tax on non-cigarette tobacco products from 70% to 95% of the wholesale price. The current study explores the change in tobacco prices in retail locations and whether the tax increase was fully passed to consumers. An observational study of tobacco retail prices was performed in a sample of 61 convenience stores in Minnesota, North Dakota, South Dakota and Wisconsin. Six rounds of data were collected between May 2013 and January 2014. In each round, purchases were made at the same stores for the same four tobacco products (Camel Blue cigarettes, Marlboro Gold cigarettes, Grizzly Wintergreen moist smokeless tobacco and Copenhagen Wintergreen moist smokeless tobacco). For all studied tobacco products, prices in Minnesota increased significantly after the tax increase (Round 1-Round 6). After controlling for price changes in neighbouring states, the average price difference in Minnesota for the two cigarette brands increased by US$1.89 and US$1.81, which are both more than the US$1.75 tax increase. For moist smokeless, the average price difference increased by US$0.90 and US$0.94. Significant price changes were not observed in the comparison states. After the introduction of the minimum moist smokeless tax, a significantly higher proportion of Minnesota stores offered price promotions on smokeless tobacco. A large tobacco tax resulted in an average retail cigarette price exceeding the tax, suggesting the industry over-shifted the cigarette tax increase to consumers in Minnesota. The findings support the known public health benefit of tobacco tax increases while highlighting the need for additional information about how, or if, tobacco companies use price promotions to blunt the impact of tax increases. Published by the BMJ Publishing Group Limited. For permission to use (where not

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

    Directory of Open Access Journals (Sweden)

    S. A. Bagretsov

    2017-01-01

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

  3. Optimal pricing of a conspicuous product during a recession that freezes capital markets

    NARCIS (Netherlands)

    Caulkins, J.P.; Feichtinger, G.; Grass, D.; Hartl, R.F.; Kort, P.M.; Seidl, A.

    2011-01-01

    This paper considers the problem of how to price a conspicuous product when the economy is in a recession that disrupts capital markets. A conspicuous product in this context is a luxury good for which demand is increasing in brand image. Brand image here means the ability of a consumer to impress

  4. The Influence of Organic Product Classification On Charitable Contributions Embedded in Retail Prices

    Directory of Open Access Journals (Sweden)

    Levens Michael

    2017-06-01

    Full Text Available Research on embedding direct charitable contributions into purchase transactions through increasing product price has revealed mutual benefits for charitable organisations and for-profit companies. This process is referred to as the embedded premium (EP. The potential for this type of mutually beneficial cause marketing has been shown to apply to a wide range of products. The fastest growing product classification in the United States, organic products generally cost more than their non-organic alternatives. The basis of this research is to examine if organic products enhance the utility of EP offerings. Eight different organic and non-organic food products are presented in a 64-block, single choice set design to a national sample of consumers with choice options between current market price and current market price plus 5% price premium with entire premium going directly to charity. The results of the research indicate that organic products with EP were, on an average, chosen almost five percentage points less frequently than similar EP choices involving non-organic products.

  5. Effect of the addition of fatty by-products from the refining of vegetable oil on methane production in co-digestion.

    Science.gov (United States)

    Torrijos, M; Sousbie, P; Badey, L; Bosque, F; Steyer, J P

    2012-01-01

    The purpose of this work was to investigate the effects of the addition of by-products from the refining of vegetable oil on the behavior of co-digestion reactors treating a mixture of grass, cow dung and fruit and vegetable waste. Three by-products were used: one soapstock, one used winterization earth and one skimming of aeroflotation of the effluents. Three 15 l reactors were run in parallel and fed five times a week. In a first phase of 4 weeks, the three reactors were fed with the co-digestion substrates alone (grass, cow dung and fruit and vegetable waste) at an organic loading rate (OLR) of 1.5 g VS/kg d (VS: volatile solids). Then, a different by-product from the refining of oil was added to the feed of each reactor at an OLR of 0.5 g VS/kg d, generating a 33% increase in the OLR. The results show that the addition of by-products from the refining of oil is an efficient way of increasing the methane production of co-digestion reactors thanks to high methane yield of such by-products (0.69-0.77 l CH(4)/g VS loaded). In fact, in this work, it was possible to raise the methane production of the reactors by about 60% through a 33% increase in the OLR thanks to the addition of the by-products from the refining of vegetable oil.

  6. Pricing Digital Content Product Lines: A Model and Application for the National Academies Press

    OpenAIRE

    P. K. Kannan; Barbara Kline Pope; Sanjay Jain

    2009-01-01

    We examine the problem of how a content provider, specifically the National Academies Press (NAP), can optimally price the different forms of its product—print and PDF—that it sells online. Whereas products in the traditional product line generally tend to be substitutes, the different content product forms could range from being substitutes to being complements across customers. Thus the content provider can possibly sell bundles of the product forms, leading to additional revenue. We first ...

  7. 77 FR 14041 - Major Portion Prices and Due Date for Additional Royalty Payments on Indian Gas Production in...

    Science.gov (United States)

    2012-03-08

    ... index zone pricing. We approved the Ute Indian Tribe's request; therefore, you must value production... due date for industry to pay additional royalties based on the major portion prices. This notice... additional royalties based on the major portion prices is May 7, 2012. FOR FURTHER INFORMATION CONTACT: John...

  8. Mechanisms determining prices of products on the pharmaceutical market

    Directory of Open Access Journals (Sweden)

    Klaudia LUCIUS

    2015-07-01

    Full Text Available The pharmaceutical market is characterized by the existence of state regulations restricting his freedom to market and is one of the fastest growing sectors of the economy all over the world. Factors that have a real impact on determining the price of drugs can be grouped into three categories: medical factors, economic factors, political and environmental factors. In the group of medical factors can be distinguished patent protection, the cost of producing the drug and the value of the drug. To economic factors, taking into account the aspect of market competitiveness of companies, include: the size of the producer, nature of the company - whether it is a research unit of the pharmaceutical company, return on investment – effectiveness of use of expenditure with the aim of achieving a profit (return on investment, ROI, profitability entity. The remaining group of factors (environmental, and political relate mainly to national regulations. They are connected with among others the registration system of marketing authorization, whether a reimbursement system that determines whether and how drugs are financed from public funds. Membership in the European Union forces on all Member States to make reimbursement decisions by the so-called Transparency Directive. It is connected with the obligation to justify decisions, and calling upon objective reasons. Medical Technology Assessment Agency formulating recommendations take into account factors i.e. a therapeutic, benefits for the patients, cost-effectiveness, impact on the budget.

  9. Product-line extensions and pricing strategies of brand-name drugs facing patent expiration.

    Science.gov (United States)

    Hong, Song Hee; Shepherd, Marvin D; Scoones, David; Wan, Thomas T H

    2005-01-01

    This study proposed an alternative to brand loyalty as the explanation for the continued price rigidity of patent-expired brand-name prescription drugs despite the increase in market entry of generic drugs facilitated by the 1984 Drug Price Competition and Patent Term Restoration Act. Study hypotheses were to test (1) whether market entries of new-product extensions are associated with market success of original brand-name drugs before generic drug entry, and (2) whether original brand-name drugs exhibit price rigidity to generic entry only when they are extended. The design is a retrospective follow-up study for the prescription drug brands that lost their patents between 1987 and 1992. The drug brands were limited to nonantibiotic, orally administered drugs containing only 1 active pharmaceutical ingredient. Information on patent expiration, entry of a product extension, and market success were determined from the U.S. Food and Drug Administration.s Orange Book, First DataBank, and American Druggist, respectively. Market success was defined as whether an original drug brand was listed in the top 100 prescriptions most frequently dispensed before facing generic entry. Product-line extension was defined as the appearance of another product that a company introduces within the same market after its existing product. Drug prices were average wholesale prices from the Drug Topics Red Book. The relationship between product-line extension and market success was examined using a logistic regression analysis. The price rigidity to entry was tested using a panel regression analysis. A total of 27 drug brands lost their patents between 1987 and 1992. Drug brands that achieved market success were 16 times more likely to be extended than were those that did not (OR=16, 95% confidence interval, 2.12-120.65). The price rigidity to entry existed in drug brands with extensions (beta=2.65%, P new product-line extension introduced for an original brand helps the original price be

  10. Understanding gasoline pricing in Canada

    International Nuclear Information System (INIS)

    Anon.

    2001-01-01

    Pricing policies for gasoline by Canadian oil companies are discussed. An attempt is made to demonstrate that competition between oil companies is extremely keen, and markups are so small that to stay in business, retail outlets have to sell huge volumes and sell non-fuel products, as a means to increase revenues and margins. An explanation is provided for why gasoline prices move in unison, and why what appears to the public as collusion and gouging is, in fact, the result of retail dealers attempting to stay in business. The high prices are attributed mainly to taxes by municipalities, the provinces and the federal government; taxes are said to account for 40 to 50 per cent of the pump price. The cost of crude makes up another 35 to 45 per cent, refining adds 10 to 15 per cent, with the remaining 5 to 10 per cent representing retail costs. (Taxes in the United States average 20 to 30 per cent). Over the longer term, gasoline prices consistently reflect the cost of crude oil, dominated by the OPEC countries which supply about 41 per cent of daily world production. Another factor is the rise of global and regional commodity markets for refined products such as gasoline. Commodity traders buy wholesale gasoline cheaply whenever it is in oversupply, and sell it for a profit into markets where the demand is greater. While this is claimed to ensure competitive prices in all markets, the practice can also trigger abrupt changes in regional markets

  11. PRICING, REIMBURSEMENT, AND HEALTH TECHNOLOGY ASSESSMENT OF MEDICINAL PRODUCTS IN BULGARIA.

    Science.gov (United States)

    Benisheva-Dimitrova, Tatyana; Sidjimova, Dobriana; Cherneva, Daniela; Kralimarkov, Nikolay

    2017-01-01

    The aim of this study was to investigate the analysis, discussion, and challenges of the price and reimbursement process of medicinal products in Bulgaria in the period 2000-15 and health technology assessment (HTA) role in these processes. The dynamics of the reform, with respect to the healthcare and pharmaceutical sectors, are tracked by documentary review of regulations, articles, and reports in the European Union (EU), as well as analytical and historical analysis. Pricing and reimbursement processes have passed through a variety of committees between 2003 and 2012. Separate units for pricing and reimbursement of medicinal products were established in Bulgaria for the first time, in 2013, when an independent body, the National Council at Prices and Reimbursement of Medicinal Products, was set up to approve medicinal products with new international nonproprietary names (INN) for reimbursement in Bulgaria. Over the course of 2 years (2013-14), thirty-three new INNs were approved for reimbursement. In December 2015, a new HTA body was introduced, and assigned to the National Centre for Public Health and Analyses. Although Bulgaria has current legislation on pricing and reimbursement which is in accordance with the EU rules, there is no mechanism for reporting and monitoring these processes or the financial resources annually, so as to provide an overall objective assessment and analysis by year. Therefore, this financial assessment should become a national policy objective for the future.

  12. Production of a 304 stainless steel nuclear reactor forging from a very large electroslag refined ingot

    International Nuclear Information System (INIS)

    Watkins, E.J.; Tihansky, E.L.

    1986-01-01

    A four-loop, upper barrel flange forging for a nuclear reactor was produced from what the authors believe to be the largest 304H grade stainless steel electroslag refined (ESR) ingot ever refined. The ingot was refined in a 1524-mm-diameter, ingot withdrawal-type ESR furnace using a lime-bearing slag, low-frequency a-c power, and dry air protection. Five electrodes were remelted in order to produce the desired ingot weight. The ingot was subsequently forged in a five-step operation on a 6800-metric-ton press to produce the desired barrel flange configuration. Testing of the finished machined forging revealed excellent tensile ductility, excellent ultrasonic penetrability, and good chemical uniformity with no macrosegregation. Overall quality was judged to be superior to previously produced, conventionally melted forgings

  13. A New Dynamic Pricing Model for the Effective Sustainability of Perishable Product Life Cycle

    Directory of Open Access Journals (Sweden)

    Pırıl Tekin

    2017-07-01

    Full Text Available Perishable products run their life cycle in a short period of time due to the shortness of their shelf lives. Product efficiency falls when especially non-recyclable products are thrown away without being used. Furthermore, this kind of products that unnecessarily occupy shelves of supermarkets cause supermarkets to follow an insufficient stock management policy. Unconscious and unplanned use of our limited natural resources will deteriorate the product portfolio for future generations. Such unconscious production and consumption patterns will disrupt natural balance and damage sustainability of products. In addition to creating very high costs for producers, sellers and consumers alike, these unsold or stale products lead to environmental problems due to such pricing policies. In other words, although the products have to be thrown away without being sold is attributed by many managers to be attributable to the unplanned over-orders, the actual reason is something else. The real contributor of the problem is changing purchase attitudes of customers because of wrong pricing policies of wholesaler. In addition, limited resources are also consumed fast and in unnecessary amounts. The imbalance in respect to the sustainability of these products leads to increase in the production costs, procurement costs and failure to achieve balance among products to be kept in storage houses as some of the products occupy stocks unnecessarily. In the present study, a new pricing policy is developed for product stock whose shelf lives are about to expire and generally become waste to increase salability of these products in reference to fresher stocks of these products. The present study, which is designed to reduce the above-mentioned losses, will seek to minimize the cost of waste, maximize the profit earned by supermarkets from the product, maximize product utilization rates and ensure sustainability of products and stocks as well. Fulfillment of these

  14. JOINT DETERMINATION OF PRICE, WAR RANTY LENGTH AND PRODUCTION QUANTITY FOR NEW PRODUCTS UNDER FREE RENEWAL WARRANTY POLICY

    Directory of Open Access Journals (Sweden)

    K. Jeyakumar

    2010-03-01

    Full Text Available An optimal business strategy which integrates the decisions, such as pricing, production quantity, and custom er service, in or der to maximize profit is vital for any manufacturing industry. Post sale factors like warranty, spare parts availability, maintenance, service and cost play an important role in the sale of a product. As better warranty signals higher product quality which provides greater assurance to customers, warranty is an important factor in marketing new products. In this paper, a decision model with the price, warranty length and production quantity of a product as decision variables to maximize profit based on the pre-determined product life cycle is presented. The study considers free renewal warranty policy for producers in the static sales market. The expected number of renewals based on the warranty length is derived for lognormally distributed products. The effect of model parameters on the profit is studied.

  15. Oil price shocks and policy implications the emergence of U.S. tight oil production: a case study

    OpenAIRE

    Voth, Jeffrey Michael

    2015-01-01

    How have shocks to supply and demand affected global oil prices; and what are key policy implications following the resurgence of oil production in the United States? Highlights: − The recent collapse in global oil prices was dominated by oversupply. − The future of tight oil in the United States is vulnerable to obstacles beyond oil prices. − Opinions on tight oil from the Top 25 think tank organizations are considered. Global oil prices have fallen more than fifty percent since ...

  16. Joint decision of pricing and order quantity by considering product substitution in dual channel supply chain

    Science.gov (United States)

    Widodo, Erwin

    2017-11-01

    Dual channel supply chain (DCSC) has been attracting many researchers' attention. Their contributions mainly are in two folds, namely pricing problem and inventory policy. However, research to address both pricing and inventory problems simultaneously are still scarce. Meanwhile in recent competitive market, product substitution is an unavoidable practice in fulfilling customer demand when the main product is unavailable. Thus how to decide price and order quantity by considering product substitution under DCSC setting is an interesting topic to address. In this paper, corresponding mathematical model incorporating such problem is proposed. This model consists of objective function measuring sales revenue and inventory cost, and some constraints to assure positive profit margin, interplaying price between online and offline channel, and positive demand. Two pricing schemes, namely Vertical Nash and Stackelberg Leadership are evaluated. The result shows that in any situation of substitution level, Vertical Nash solution provides higher financial performance than that under Stackelberg Leadership. In addition, this work's results have also revealed that there exist some threshold values differentiating when it is better off to apply Vertical Nash scenario an, when Stackelberg Leadership scenario is preferable.

  17. Pricing and inventory policies for Hi-tech products under replacement warranty

    Science.gov (United States)

    Tsao, Yu-Chung; Teng, Wei-Guang; Chen, Ruey-Shii; Chou, Wang-Ying

    2014-06-01

    Companies, especially in the Hi-tech (high-technology) industry (such as computer, communication and consumer electronic products), often provide a replacement warranty period for purchased items. In reality, simultaneously determining the price and inventory decisions under warranty policy is an important issue. The objective of this paper is to develop a joint pricing and inventory model for Hi-tech products under replacement warranty policy. In the first model, we consider a Hi-tech product feature in which the selling price is declining in a trend. We determine the optimal inventory level for each period and retail price for the first period while maximising the total profit. In the second model, we further determine the optimal retail price and inventory level for each period in the dynamic demand market. This study develops solution approaches to solve the problems described above. Numerical analysis discusses the influence of system parameters on the company's decisions and behaviours. The results of this study could serve as a reference for business managers or administrators.

  18. Petroleum Refining and its Economic and Technological Impact for the Production of Gasoline in Mexico to 2030

    Directory of Open Access Journals (Sweden)

    Granados-Hernández Elías

    2013-10-01

    Full Text Available Gas imports in Mexico have increased in the last few years. Nowadays Mexico has no capacity to meet the demands of this fuel in the next twenty years. In this paper we analyze several oil refining projections that enable the oil supply in Mexico until year 2030, taking into consideration four types of refineries, processing the produc- tion of pure oils in the country, using four mixtures of the higher reserve, consider- ing an import to meet the demand of fuel and once met consider exportation. Modeling was carried out analyzing the volume of refined oil and the required in- vestment, based on the kind of refinery and on the processing units that characterize it. As it was mentioned before, there are different refining projections to meet the demand of gas, but considering that the main oil production in Mexico is heavy. The simulated projection with this type of oil would require a higher volume in the exis- tent refineries in the country to meet that demand. Besides, considering the kind of refinery (out of four, the volumes to refine will be less, if very complex refineries are used. However, the cost of investment in this technology would be higher, consider- ing that new refineries will be built in a near future to meet the fuel demands.

  19. 48 CFR 252.216-7000 - Economic price adjustment-basic steel, aluminum, brass, bronze, or copper mill products.

    Science.gov (United States)

    2010-10-01

    ...-basic steel, aluminum, brass, bronze, or copper mill products. 252.216-7000 Section 252.216-7000 Federal... adjustment—basic steel, aluminum, brass, bronze, or copper mill products. As prescribed in 216.203-4-70(a... Mill Products (JUL 1997) (a) Definitions. As used in this clause— Established price means a price which...

  20. Production and characterization of refined oils obtained from Indian oil sardine (Sardinella longiceps).

    Science.gov (United States)

    Chakraborty, Kajal; Joseph, Deepu

    2015-01-28

    Crude Sardinella longiceps oil was refined in different stages such as degumming, neutralization, bleaching, and deodorization. The efficiency of these processes was evaluated on the basis of free fatty acid (FFA), peroxide (PV), p-anisidine (pAV), total oxidation (TOTOX), thiobarbituric acid reactive species (TBARS) values, Lovibond CIE-L*a*b* color analyses, and (1)H NMR or GC-MS experiments. The utilities of NMR-based proton signal characteristics as new analytical tools to understand the signature peaks and relative abundance of different fatty acids and monitoring the refining process of fish oil have been demonstrated. Phosphoric acid (1%) was found to be an effective degumming reagent to obtain oil with the lowest FFA, PV, pAV, TOTOX, and TBARS values and highest color reduction. Significant reduction in the contents of hydrocarbon functionalities as shown by the decrease in proton integral in the characteristic (1)H NMR region was demonstrated by using 1% H3PO4 during the course of the degumming process. A combination (1.25:3.75%) of activated charcoal and Fuller's earth at 3% concentration for a stirring time of 40 min was found to be effective in bleaching the sardine oil. This study demonstrated that unfavorable odor-causing components, particularly low molecular weight carbonyl compounds, could successfully be removed by the refining process. The alkane-dienals/alkanes, which cause unfavorable fishy odors, were successfully removed by distillation (100 °C) under vacuum with aqueous acetic acid solution (0.25 N) to obtain greater quality of refined sardine oil, a rich source of essential fatty acids and improved oxidative stability. The present study demonstrated that the four-stage refinement process of sardine oil resulted in a significant improvement in quality characteristics and nutritional values, particularly n-3 PUFAs, with improved fish oil characteristics for use in the pharmaceutical and functional food industries.

  1. Optimal Ordering and Pricing Policies for Seasonal Products: Impacts of Demand Uncertainty and Capital Constraint

    Directory of Open Access Journals (Sweden)

    Jinzhao Shi

    2016-01-01

    Full Text Available With a stochastic price-dependent market demand, this paper investigates how demand uncertainty and capital constraint affect retailer’s integrated ordering and pricing policies towards seasonal products. The retailer with capital constraint is normalized to be with zero capital endowment while it can be financed by an external bank. The problems are studied under a low and high demand uncertainty scenario, respectively. Results show that when demand uncertainty level is relatively low, the retailer faced with demand uncertainty always sets a lower price than the riskless one, while its order quantity may be smaller or larger than the riskless retailer’s which depends on the level of market size. When adding a capital constraint, the retailer will strictly prefer a higher price but smaller quantity policy. However, in a high demand uncertainty scenario, the impacts are more intricate. The retailer faced with demand uncertainty will always order a larger quantity than the riskless one if demand uncertainty level is high enough (above a critical value, while the capital-constrained retailer is likely to set a lower price than the well-funded one when demand uncertainty level falls within a specific interval. Therefore, it can be further concluded that the impact of capital constraint on the retailer’s pricing decision can be influenced by different demand uncertainty levels.

  2. Indexing of gas prices with respect to those of petroleum products: problem and perspectives

    International Nuclear Information System (INIS)

    Percebois, J.; Sauvage, E.; Valette, M.; Liens, G.; Lu, L.

    2009-01-01

    A debate was organized by the French gas association (AFG) on December 2, 2008 around the question of: is it opportune to maintain the present day system of indexing of gas prices with respect to petroleum product prices? Even if the basic reasons justifying this indexing system have changed with time, and despite the recent hostility of the European Commission, this practice remains the standard for the huge majority of gas transactions. Does this indexing system favour the producers? In spite of their apparent interest, do the consumers really wish to replace indexed prices by market prices in a context where strong uncertainties and tensions on gas markets cannot be excluded? Is the present day status quo the result of the situation imposed by producers or is it the consequences of contradictory anticipations between sellers and buyers? Will gas prices remain indexed on petroleum prices in the future and if not, what would be the possible alternatives? These are the questions debated by the participants and reported in this paper with the questions from the audience. (J.S.)

  3. Natural gas pricing policies in Southeast Asia

    International Nuclear Information System (INIS)

    Pacudan, R.B.

    1998-01-01

    The very dynamic economies of Southeast Asia have recently been experiencing a rapid increase in energy demand. Parallel to this development, there has been an increase in the utilization of indigenous natural gas resources. This article reviews gas-pricing policies in the region, which partly explain the rise in gas utilization. Although diverse, energy pricing policies in Southeast Asia address the common objective of enhancing domestic gas production and utilization. The article concludes that a more rational gas-pricing policy framework is emerging in the region. In global terms, gas pricing in the region tends to converge in a market-related framework, despite the many different pricing objectives of individual countries, and the predominance of non-economic pricing objectives in certain countries (especially gas-rich nations). Specifically, governments have been flexible enough to follow global trends and initiate changes in contractual agreements (pricing and profit-sharing), giving oil companies more favourable terms, and encouraging continued private investment in gas development. At the same time, promotional pricing has also been used to increase utilization of gas, through set prices and adjusted taxes achieving a lower price level compared to substitute fuels. For an efficient gas-pricing mechanism, refinements in the pricing framework should be undertaken, as demand for gas approaches existing and/or forecast production capacities. (author)

  4. The impact of price reduction on exploration-production strategies

    International Nuclear Information System (INIS)

    Perrin, F.

    1994-01-01

    Six trends seem to be prevailing: a best ratio cost-efficiency in exploration-production; a certain geographical concentration; the impact of technological advance; the opening to exploration of areas closed in the past to the western companies; accent put on natural gas

  5. Customization: Ideal Varieties, Product Uniqueness and Price Competition

    OpenAIRE

    Oksana Loginova; X. Henry Wang

    2009-01-01

    We study customization in the Hotelling model with two firms. In addition to providing ideal varieties, the perceived uniqueness of a customized product contributes independently to consumer utility. We show that only when consumer preferences for uniqueness are high customization occurs in equilibrium.

  6. Beyond excise taxes: a systematic review of literature on non-tax policy approaches to raising tobacco product prices.

    Science.gov (United States)

    Golden, Shelley D; Smith, Margaret Holt; Feighery, Ellen C; Roeseler, April; Rogers, Todd; Ribisl, Kurt M

    2016-07-01

    Raising the price of tobacco products is considered one of the most effective ways to reduce tobacco use. In addition to excise taxes, governments are exploring other policies to raise tobacco prices and minimise price dispersion, both within and across price tiers. We conducted a systematic review to determine how these policies are described, recommended and evaluated in the literature. We systematically searched six databases and the California Tobacco Control library for English language studies or reports, indexed on or before 18 December 2013, that included a tobacco keyword (eg, cigarette), policy keyword (eg, legislation) and a price keyword (eg, promotion). We identified 3067 abstracts. Two coders independently reviewed all abstracts and identified 56 studies or reports that explicitly described a public policy likely to impact the retail price of tobacco products through non-tax means. Two coders independently identified tobacco products targeted by policies described, recommendations for implementing policies and empirical assessments of policy impacts. The most prevalent non-tax price policies were price promotion restrictions and minimum price laws. Few studies measured the impact of non-tax policies on average prices, price dispersion or disparities in tobacco consumption, but the literature includes suggestions for crafting policies and preparing for legal challenges or tobacco industry opposition. Price-focused evaluations of well-implemented non-tax price policies are needed to determine whether they can deliver on their promise to raise prices, reduce price dispersion and serve as an important complement to excise taxes. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://www.bmj.com/company/products-services/rights-and-licensing/

  7. Physicochemical and sensory characterization of refined and deodorized tuna (Thunnus albacares) by-product oil obtained by enzymatic hydrolysis.

    Science.gov (United States)

    de Oliveira, Dayse A S B; Minozzo, Marcelo G; Licodiedoff, Silvana; Waszczynskyj, Nina

    2016-09-15

    In this study, the effects of chemical refining and deodorization on fatty acid profiles and physicochemical and sensory characteristics of the tuna by-product oil obtained by enzymatic hydrolysis were evaluated. Enzymatic extraction was conducted for 120 min at 60 °C and pH 6.5 using Alcalase at an enzyme-substrate ratio of 1:200 w/w. The chemical refining of crude oil consisted of degumming, neutralization, washing, drying, bleaching, and deodorization; deodorization was conducted at different temperatures and processing times. Although chemical refining was successful, temperature and chemical reagents favored the removal of polyunsaturated fatty acids (PUFA) from the oil. Aroma attributes of fishy odor, frying odor, and rancid odor predominantly contributed to the sensory evaluation of the product. Deodorization conditions of 160 °C for 1h and 200 °C for 1h were recommended for the tuna by-product oil, which is rich in PUFA. Copyright © 2016 Elsevier Ltd. All rights reserved.

  8. How does increased corn-ethanol production affect US natural gas prices?

    International Nuclear Information System (INIS)

    Whistance, Jarrett; Thompson, Wyatt

    2010-01-01

    In recent years, there has been a push to increase biofuel production in the United States. The biofuel of choice, so far, has been ethanol produced from corn. The effects of increased corn-ethanol production on the consumer prices of food and energy continue to be studied and debated. This study examines, in particular, the effects of increased corn-ethanol production on US natural gas prices. A structural model of the natural gas market is developed and estimated using two stage least squares. A baseline projection for the period 2007-2018 is determined, and two scenarios are simulated. In the first scenario, current biofuel policies including EISA mandates, tariffs, and tax credits are removed. In the second scenario, we hold ethanol production to the level required only for largely obligatory additive use. The results indicate that the increased level of corn-ethanol production occurring as a result of the current US biofuel policies may lead to natural gas prices that are as much as 0.25% higher, on average, than if no biofuel policies were in place. A similar comparison between the baseline and second scenario indicates natural gas prices could be as much as 0.5% higher, on average, for the same period.

  9. Refining in the 1990s: Technological response to environmental concerns, product quality requirements and changes in demand patterns

    Energy Technology Data Exchange (ETDEWEB)

    Naber, J.E.; Stork, W.H.J.; Blauwhoff, P.M.M. (Koninklijke Shell, Amsterdam (Netherlands). Lab.); Groeneveld, K.J.W. (Shell Internationale Petroleum Maatschappij B.V., The Hague (Netherlands))

    1990-01-01

    The refining industry is faced with a pressing need to protect the environment and with increasing demands for higher quality and changes in the composition of the product mix, partly as a result of a continued decline in demand for residual fuel due to energy savings and competition from other energy sources. An important part of the response to these challenges has been the development and implementation of new and improved technology to increase the refiner's ability to upgrade relatively low-value products to high-quality fuels. This generally involves an increase of the hydrogen content of the products, either by rejecting carbon or by adding hydrogen. In consequence, advanced technology has recently been developed for the conversion of residual components in catalytic crackers (carbon rejection) as well as in residue hydroprocessing (hydrogen addition). However, as a result of the increasing amounts of aromatic components in distillates from residue conversion, higher product quality demands in conjunction with a shift to diesel fuel can only be met by significant further developments in hydroprocessing. These developments favour the low hetero-atom and low-aromatics production in modern hydrocrackers utilising advanced catalysts and process technology. In the more distant future, the advent of new technology for large-scale production of synthesis gas (CO/H{sub 2}) from partial oxidation of natural gas, heavy oil or coal will enable the production of superior-quality non-aromatic middle distillates through sophisticated Fischer-Tropsch catalysis. (orig./EF).

  10. To Cooperate or Not? An Analysis of Complementary Product Pricing in Green Supply Chain

    Directory of Open Access Journals (Sweden)

    Jie Wei

    2018-05-01

    Full Text Available This paper investigates the green supply chain pricing problem when two manufacturers sell complementary products to one retailer. Considering the manufacturers’ cooperation or noncooperation strategies, we first give the centralized pricing model as a benchmark. According to market power among the supply chain, we analyze two types of supply chains: supplier-led type where the green driving factor comes from the suppliers and retailer-led type where the core member retailer leads the green supply chain. We then give two decentralized pricing models through considering strategic cooperation between two manufacturers and different structures. Corresponding closed-form expressions for equilibrium pricing strategies are established. Finally, many valuable managerial results are acquired through comparing the profits and equilibrium decisions of these models. Our paper shows that consumers are indifferent as to who is the leader of the two echelons when the manufacturers adopt non-cooperative action; the two complementary products get the same optimal wholesale/retail prices, maximum retail margins, and maximum demands regardless of the manufacturers’ cooperation or noncooperation strategies.

  11. Higher prices, increased demand bolster OGJ group 1995 profits

    International Nuclear Information System (INIS)

    Beck, R.J.; Bell, L.

    1996-01-01

    This paper reviews the 1995 performance of 22 of the largest US oil companies. It shows sector earnings, spending, prices, financial indicators, and exploration and production figures. Each company is identified to its revenues, working capital, returns on stockholder investments, and total assets. With regards to production, each company is identified by number of wells, refined product sales, liquid reserves, and net production

  12. Pricing Participating Products under a Generalized Jump-Diffusion Model

    Directory of Open Access Journals (Sweden)

    Tak Kuen Siu

    2008-01-01

    Full Text Available We propose a model for valuing participating life insurance products under a generalized jump-diffusion model with a Markov-switching compensator. It also nests a number of important and popular models in finance, including the classes of jump-diffusion models and Markovian regime-switching models. The Esscher transform is employed to determine an equivalent martingale measure. Simulation experiments are conducted to illustrate the practical implementation of the model and to highlight some features that can be obtained from our model.

  13. Pricing Power of Agricultural Products under the Background of Small Peasant Management and Information Asymmetry

    Institute of Scientific and Technical Information of China (English)

    Dexuan LI

    2016-01-01

    From the background of small peasant management and information asymmetry,this paper introduced the middle profit sharing model and discussed influence factors and ownership of pricing power of agricultural products. It obtained following results:( i) the transaction scale has positive effect on farmer’s pricing power of agricultural products,while the competitor’s transaction scale has negative effect on it,so does the cost for information search;( ii) under the condition of small peasant management system,farmer is in a relatively weak position in the distribution of pricing power of agricultural products,due to factors such as small transaction scale,information asymmetry and farmer’s weak negotiation ability;( iii) through cooperative game,farmer and buyers can share cooperative surplus at the agreed ratio;( iv) the introduction of self-organizing specialized farmers cooperatives is favorable for solving the problem of pricing power of agricultural products,and possible problems,such as " collective action dilemma" and " fake cooperatives" in the cooperative development process can be solved by internal and external division of labor and specialization of cooperatives.

  14. The role of value-informed pricing in market-oriented product innovation management

    NARCIS (Netherlands)

    Ingenbleek, P.; Frambach, R.T.; Verhallen, T.M.M.

    2010-01-01

    Although the positive effect of a market orientation on new product success is widely accepted and the market orientation literature has increased its understanding of how a market orientation leads to performance, the extant literature has overlooked the role of value-informed pricing in the

  15. The Role of Value-Informed Pricing in Market-Oriented Product Innovation Management

    NARCIS (Netherlands)

    Ingenbleek, P.T.M.; Frambach, R.T.; Verhallen, Th.M.M.

    2010-01-01

    Although the positive effect of a market orientation on new product success is widely accepted and the market orientation literature has increased its understanding of how a market orientation leads to performance, the extant literature has overlooked the role of value-informed pricing in the

  16. Estimating consumer willingness to pay a price premium for Alaska secondary wood products.

    Science.gov (United States)

    Geoffrey H. Donovan; David L. Nicholls

    2003-01-01

    Dichotomous choice contingent valuation survey techniques were used to estimate mean willingness to pay (WTP) a price premium for made-in-Alaska secondary wood products. Respondents were asked to compare two superficially identical end tables, one made in China and one made in Alaska. The surveys were administered at home shows in Anchorage, Fairbanks, and Sitka in...

  17. Pricing-based revenue management for flexible products on a network

    NARCIS (Netherlands)

    Sierag, DIrk

    2017-01-01

    This paper proposes and analyses a pricing-based revenue management model that allows flexible products on a network, with a non-trivial extension to group reservations. Under stochastic demand the problem can be solved using dynamic programming, though it suffers from the curse of dimensionality.

  18. Brand visualization: Effects of "product shape- typeface design" congruence on brand perceptions and price expectations

    NARCIS (Netherlands)

    van Rompay, Thomas Johannes Lucas; Pruyn, Adriaan T.H.

    2008-01-01

    This research addresses effects of congruence of symbolic meanings connoted through product shape and typeface design on brand perceptions and price expectations. Based on processing fluency accounts, it is predicted that shape-typeface congruence, as opposed to shape-typeface incongruence,

  19. Leader-follower Game in VMI System with Limited Production Capacity Considering Wholesale and Retail Prices

    NARCIS (Netherlands)

    Y. Yu (Yugang); L. Liang (Liming); G.Q. Huang (George)

    2006-01-01

    textabstractVMI (Vendor Managed Inventory) is a widely used cooperative inventory policy in supply chains in which each enterprise has its autonomy in pricing. This paper discusses a leader-follower Stackelberg game in a VMI supply chain where the manufacturer, as a leader, produces a single product

  20. Method of preparing an Al-Ti-B grain refiner for aluminium-comprising products, and a method of casting aluminium products

    NARCIS (Netherlands)

    Brinkman, H.J.; Duszczyk, J.; Katgerman, L.

    1999-01-01

    The invention relates to a method of preparing an Al-Ti-B grain refiner for cast aluminium-comprising products. According to the invention the preparation is realized by mixing powders selected from the group comprising aluminium, titanium, boron, and alloys and intermetallic compounds thereof,

  1. The transitory and permanent volatility of oil prices: What implications are there for the US industrial production?

    International Nuclear Information System (INIS)

    Ali Ahmed, Huson Joher; Bashar, Omar H.M.N.; Wadud, I.K.M. Mokhtarul

    2012-01-01

    Highlights: ► This study examines the impact of oil price uncertainty on the US industrial production (IPI). ► The transitory component of the oil price volatility has an adverse impact on the US IPI. ► The transitory oil price volatility induces higher volatility in CPI, commodity prices and IPI. -- Abstract: This study examines the impact of oil price uncertainty on the US industrial production by decomposing oil price volatility into permanent and transitory components. The decompositions provide important evidence on sources and asymmetric effects of oil price volatility. To estimate the component structure of volatility and to analyse the dynamic impacts of the volatility components, the study uses a threshold based CGARCH and VAR modelling over a period from 1980 to 2010 for the US economy. The CGARCH model estimates show significant asymmetric effect of oil price shock on the transitory oil price volatility. Dynamic impulse response functions obtained from the estimated VAR models reveal that there is a significant and prolonged dampening impact of increased transitory oil price volatility on industrial production. The results also suggest that shocks to transitory component induce increased volatility in the general price level and non-fuel commodity prices in the US. Variance decomposition analysis reconfirms that the transitory volatility is the second most important factor to explain the variance of industrial production. These results provide additional insights on the sources of oil price uncertainty and point to the need to direct US energy policies towards stabilising short-term uncertainties in oil prices.

  2. Innovation, productivity, and pricing: Capturing value from precision medicine technology in Canada.

    Science.gov (United States)

    Emery, J C Herbert; Zwicker, Jennifer D

    2017-07-01

    For new technology and innovation such as precision medicine to become part of the solution for the fiscal sustainability of Canadian Medicare, decision-makers need to change how services are priced rather than trying to restrain emerging technologies like precision medicine for short-term cost savings. If provincial public payers shift their thinking to be public purchasers, value considerations would direct reform of the reimbursement system to have prices that adjust with technologically driven productivity gains. This strategic shift in thinking is necessary if Canadians are to benefit from the promised benefits of innovations like precision medicine.

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

    OpenAIRE

    Pekka Ahtiala

    2004-01-01

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

  4. Integrated forward/reverse logistics network design under uncertainty with pricing for collection of used products

    DEFF Research Database (Denmark)

    Fattahi, Mohammad; Govindan, Kannan

    2017-01-01

    This paper addresses design and planning of an integrated forward/reverse logistics network over a planning horizon with multiple tactical periods. In the network, demand for new products and potential return of used products are stochastic. Furthermore, collection amounts of used products...... with different quality levels are assumed dependent on offered acquisition prices to customer zones. A uniform distribution function defines the expected price of each customer zone for one unit of each used product. Using two-stage stochastic programming, a mixed-integer linear programming model is proposed....... To cope with demand and potential return uncertainty, Latin Hypercube Sampling method is applied to generate fan of scenarios and then, backward scenario reduction technique is used to reduce the number of scenarios. Due to the problem complexity, a novel simulation-based simulated annealing algorithm...

  5. Creating value in refining

    International Nuclear Information System (INIS)

    Cobb, C.B.

    2001-01-01

    This article focuses on recent developments in the US refining industry and presents a model for improving the performance of refineries based on the analysis of the refining industry by Cap Gemini Ernst and Young. The identification of refineries in risk of failing, the construction of pipelines for refinery products from Gulf State refineries, mergers and acquisitions, and poor financial performance are discussed. Current challenges concerning the stagnant demand for refinery products, environmental regulations, and shareholder value are highlighted. The structure of the industry, the creation of value in refining, and the search for business models are examined. The top 25 US companies and US refining business groups are listed

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

    Science.gov (United States)

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

    2014-07-01

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

  7. Optimal Pricing and Advertising Policies for New Product Oligopoly Models. Revision.

    Science.gov (United States)

    1981-08-01

    advertising is the most important strategic -element in determining the market share achieved by a firm. For most consumer products during their...products which can be made more efficiently or which have higher consumer appeal can support a higher level of advertising ; this is an intuitively...extended in several different ways. For in- stance, we may assume that the number of potential custom ,-rs is dependent on both advertising and price

  8. MANAGERIAL ACCOUNTING AND PRICING FOR SALE OF GOODS AND PRODUCTS IN TRADE AND PUBLIC CATERING

    Directory of Open Access Journals (Sweden)

    TUHARI Tudor

    2017-06-01

    Full Text Available The most relevant problems of accounting and control in the sphere of commodity exchange are the reliable determination of the cost of mass goods and products during their storage and sale, as well as the operational orientation in pricing, taking into account the demand and supply in the interests of obtaining the necessary profit at an appropriate level of profitability. In the case of the sum stock accounting method for the goods in the retail trade and public catering, the especially important element of the accounting is the process of formation of retail sales prices and calculation of production cost of sales and profit of the enterprise. The article mainly focuses on the method of determining the retail sales prices for goods and products in the area of trade and public catering, respectively, through the use of trade mark-ups in percentage terms in relation not to the purchase, but to retail sales prices including VAT. Determining the cost of sales and its accounting is recommended to adjust only at the end of the month based on the calculation of the average percentage of trade mark-up (margin.

  9. Contracting Fashion Products Supply Chains When Demand Is Dependent on Price and Sales Effort

    Directory of Open Access Journals (Sweden)

    Ying Wei

    2015-01-01

    Full Text Available This paper investigates optimal decisions in a two-stage fashion product supply chain under two specified contracts: revenue-sharing contract and wholesale price contract, where demand is dependent on retailing price and sales effort level. Optimal decisions and related profits are analyzed and further compared among the cases where the effort investment fee is determined and undertaken either by the retailer or the manufacturer. Results reveal that if the retailer determines the effort investment level, she would be better off under the wholesale price contract and would invest more effort. However, if the manufacturer determines the effort level, he prefers to the revenue-sharing contract most likely if both parties agree on consignment.

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

    NARCIS (Netherlands)

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

    2009-01-01

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

  11. 78 FR 5245 - Pricing for New Product-America the Beautiful Quarters® Three-Roll Set

    Science.gov (United States)

    2013-01-24

    ... DEPARTMENT OF THE TREASURY United States Mint Pricing for New Product--America the Beautiful Quarters[supreg] Three-Roll Set AGENCY: United States Mint, Department of the Treasury. ACTION: Notice. SUMMARY: The United States Mint is announcing pricing for a new product, the America the Beautiful...

  12. Dynamic Pricing and Production Control of an Inventory System with Remanufacturing

    Directory of Open Access Journals (Sweden)

    Chunyan Gao

    2015-01-01

    Full Text Available We consider optimal pricing and manufacturing control of a continuous-review inventory system with remanufacturing. Customer demand and product return follow independent Poisson processes. Customer demand is filled by serviceable product, which can be either manufactured or remanufactured from the returned product. The lead times for both manufacturing and remanufacturing are exponentially distributed. The objective is to maximize the expected total discounted profit over an infinite planning horizon. We characterize the structural properties of the optimal policy through the optimality equation. Specifically, the optimal manufacturing policy is a base-stock policy with the base-stock level nonincreasing in the return inventory level. The optimal pricing policy is also a threshold policy, where the threshold level is nonincreasing in the return inventory level.

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

    Directory of Open Access Journals (Sweden)

    Ijeoma C. Nwoko

    2016-12-01

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

  14. World oil demand's shift toward faster growing and less price-responsive products and regions

    International Nuclear Information System (INIS)

    Dargay, Joyce M.; Gately, Dermot

    2010-01-01

    Using data for 1971-2008, we estimate the effects of changes in price and income on world oil demand, disaggregated by product - transport oil, fuel oil (residual and heating oil), and other oil - for six groups of countries. Most of the demand reductions since 1973-74 were due to fuel-switching away from fuel oil, especially in the OECD; in addition, the collapse of the Former Soviet Union (FSU) reduced their oil consumption substantially. Demand for transport and other oil was much less price-responsive, and has grown almost as rapidly as income, especially outside the OECD and FSU. World oil demand has shifted toward products and regions that are faster growing and less price-responsive. In contrast to projections to 2030 of declining per-capita demand for the world as a whole - by the U.S. Department of Energy (DOE), International Energy Agency (IEA) and OPEC - we project modest growth. Our projections for total world demand in 2030 are at least 20% higher than projections by those three institutions, using similar assumptions about income growth and oil prices, because we project rest-of-world growth that is consistent with historical patterns, in contrast to the dramatic slowdowns which they project. (author)

  15. Index of Real Sector Returns as Price Benchmarking for Islamic Banking Products

    Directory of Open Access Journals (Sweden)

    Researchers of Islamic Banking Department

    2012-01-01

    Full Text Available Objective – Islamic Banking is closely related to the real sector. Then, its operation should reflect the real sector which is expected to contribute to the sustainable economic growth. Nevertheless, Islamic banks are still benchmarking the price of their products (profit sharing and sales on interest rate. This is as an implication of the implementation of the dual banking system. Moreover, the small portion of Islamic banking compared to the total national banks causes the competitiveness of Islamic banking product in terms of pricing has a high correlation with the interest rate of conventional counterpart. This phenomenon indicates the need to find.Method – This research employed library research method since this paper relies on secondary data by thoroughly reviewing the most relevant literature. The paper attempt to propose a pricing indicator which is based on the real sector activities as the root of Islamic banking operations.Result – Theoretically, this indicator can reflect the real rate of return of every industry sector. In addition, it can help Bank Indonesia to monitor the real sector performance and analyze the possible gap between real sector activities and financial sector. Furthermore, when the benchmark of real rate of real sector return is available, the return index of Islamic banking reflecting the profit sharing performance of the whole Islamic banking industry can be formulated. This concept is different with other indexes which are corresponding to the price of financial assets.Conclusion – In general, return index of real sector as a reference for Islamic banking product pricing is expected to define the way of non-interest return analysis, to calculate the non-interest return of selected sectors that becomes the focus of analysis using Cash Recovery Rates (CRR, forming an index of industry by sector in the second stage, by doing a certain weighting of those companies, to analyze the relationship between macro

  16. Price elasticity of tobacco products among economic classes in India, 2011-2012.

    Science.gov (United States)

    Selvaraj, Sakthivel; Srivastava, Swati; Karan, Anup

    2015-12-09

    The objectives of this study are to: (1) examine the pattern of price elasticity of three major tobacco products (bidi, cigarette and leaf tobacco) by economic groups of population based on household monthly per capita consumption expenditure in India and (2) assess the effect of tax increases on tobacco consumption and revenue across expenditure groups. Data from the 2011-2012 nationally representative Consumer Expenditure Survey from 101,662 Indian households were used. Households which consumed any tobacco or alcohol product were retained in final models. The study draws theoretical frameworks from a model using the augmented utility function of consumer behaviour, with a two-stage two-equation system of unit values and budget shares. Primary outcome measures were price elasticity of demand for different tobacco products for three hierarchical economic groups of population and change in tax revenue due to changes in tax structure. We finally estimated price elasticity of demand for bidi, cigarette and leaf tobacco and effects of changes in their tax rates on demand for these tobacco products and tax revenue. Own price elasticities for bidi were highest in the poorest group (-0.4328) and lowest in the richest group (-0.0815). Cigarette own price elasticities were -0.832 in the poorest group and -0.2645 in the richest group. Leaf tobacco elasticities were highest in the poorest (-0.557) and middle (-0.4537) groups. Poorer group elasticities were the highest, indicating that poorer consumers are more price responsive. Elasticity estimates show positive distributional effects of uniform bidi and cigarette taxation on the poorest consumers, as their consumption is affected the most due to increases in taxation. Leaf tobacco also displayed moderate elasticities in poor and middle tertiles, suggesting that tax increases may result in a trade-off between consumption decline and revenue generation. A broad spectrum rise in tax rates across all products is critical for

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

    Science.gov (United States)

    Vandenberg, Brian; Sharma, Anurag

    2016-07-01

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

  18. Stochastic production planning for a biofuel supply chain under demand and price uncertainties

    International Nuclear Information System (INIS)

    Awudu, Iddrisu; Zhang, Jun

    2013-01-01

    Highlights: ► The proposed stochastic model outperforms the deterministic model. ► The price of biofuel is modeled as Geometric Brownian Motion (GBM). ► The proposed model can be applied in any biofuel supply chain. -- Abstract: In this paper, we propose a stochastic production planning model for a biofuel supply chain under demand and price uncertainties. The supply chain consists of biomass suppliers, biofuel refinery plants and distribution centers. A stochastic linear programming model is proposed within a single-period planning framework to maximize the expected profit. Decisions such as the amount of raw materials purchased, the amount of raw materials consumed and the amount of products produced are considered. Demands of end products are uncertain with known probability distributions. The prices of end products follow Geometric Brownian Motion (GBM). Benders decomposition (BD) with Monte Carlo simulation technique is applied to solve the proposed model. To demonstrate the effectiveness of the proposed stochastic model and the decomposition algorithm, a representative supply chain for an ethanol plant in North Dakota is considered. To investigate the results of the proposed model, a simulation framework is developed to compare the performances of deterministic model and proposed stochastic model. The results from the simulation indicate the proposed model obtain higher expected profit than the deterministic model under different uncertainty settings. Sensitivity analyses are performed to gain management insight on how profit changes due to the uncertainties affect the model developed.

  19. Different Prices for Identical Products? Market Efficiency and the Virtual Location in B2C E-Commerce

    OpenAIRE

    Häring, Julia

    2003-01-01

    This paper analyses market efficiency and the role of the virtual location in digital markets using a data set containing more than 23,000 price observations from the online market for contact lenses as well as detailed information about online retailer and product characteristics. The data allow to implement and test the concept of virtual location. The empirical results reveal evidence for lower prices and less price dispersion among e-retailers in comparison to hybrid retailers, which supp...

  20. Price elasticity of tobacco products among economic classes in India, 2011–2012

    Science.gov (United States)

    Selvaraj, Sakthivel; Srivastava, Swati; Karan, Anup

    2015-01-01

    Objectives The objectives of this study are to: (1) examine the pattern of price elasticity of three major tobacco products (bidi, cigarette and leaf tobacco) by economic groups of population based on household monthly per capita consumption expenditure in India and (2) assess the effect of tax increases on tobacco consumption and revenue across expenditure groups. Setting Data from the 2011–2012 nationally representative Consumer Expenditure Survey from 101 662 Indian households were used. Participants Households which consumed any tobacco or alcohol product were retained in final models. Primary outcome measures The study draws theoretical frameworks from a model using the augmented utility function of consumer behaviour, with a two-stage two-equation system of unit values and budget shares. Primary outcome measures were price elasticity of demand for different tobacco products for three hierarchical economic groups of population and change in tax revenue due to changes in tax structure. We finally estimated price elasticity of demand for bidi, cigarette and leaf tobacco and effects of changes in their tax rates on demand for these tobacco products and tax revenue. Results Own price elasticities for bidi were highest in the poorest group (−0.4328) and lowest in the richest group (−0.0815). Cigarette own price elasticities were −0.832 in the poorest group and −0.2645 in the richest group. Leaf tobacco elasticities were highest in the poorest (−0.557) and middle (−0.4537) groups. Conclusions Poorer group elasticities were the highest, indicating that poorer consumers are more price responsive. Elasticity estimates show positive distributional effects of uniform bidi and cigarette taxation on the poorest consumers, as their consumption is affected the most due to increases in taxation. Leaf tobacco also displayed moderate elasticities in poor and middle tertiles, suggesting that tax increases may result in a trade-off between consumption decline and

  1. Projections of the impact of expansion of domestic heavy oil production on the U.S. refining industry from 1990 to 2010. Topical report

    Energy Technology Data Exchange (ETDEWEB)

    Olsen, D.K.; Ramzel, E.B.; Strycker, A.R. [National Institute for Petroleum and Energy Research, Bartlesville, OK (United States). ITT Research Institute; Guariguata, G.; Salmen, F.G. [Bonner and Moore Management Science, Houston, TX (United States)

    1994-12-01

    This report is one of a series of publications assessing the feasibility of increasing domestic heavy oil (10{degrees} to 20{degrees} API gravity) production. This report provides a compendium of the United States refining industry and analyzes the industry by Petroleum Administration for Defense District (PADD) and by ten smaller refining areas. The refining capacity, oil source and oil quality are analyzed, and projections are made for the U.S. refining industry for the years 1990 to 2010. The study used publicly available data as background. A linear program model of the U.S. refining industry was constructed and validated using 1990 U.S. refinery performance. Projections of domestic oil production (decline) and import of crude oil (increases) were balanced to meet anticipated demand to establish a base case for years 1990 through 2010. The impact of additional domestic heavy oil production, (300 MB/D to 900 MB/D, originating in select areas of the U.S.) on the U.S. refining complex was evaluated. This heavy oil could reduce the import rate and the balance of payments by displacing some imported, principally Mid-east, medium crude. The construction cost for refining units to accommodate this additional domestic heavy oil production in both the low and high volume scenarios is about 7 billion dollars for bottoms conversion capacity (delayed coking) with about 50% of the cost attributed to compliance with the Clean Air Act Amendment of 1990.

  2. Regional prices in the Swedish wood-fuel market

    International Nuclear Information System (INIS)

    Hillring, Bengt

    1999-01-01

    This paper analyses, through a statistical survey, the regional distribution of prices on the commercial wood-fuel market for district heating plants and the pellets market for single family houses. The existing market watch of the national Swedish wood-fuel market has been developed for both refined and unrefined wood-fuels. The last five years the trend for wood-fuel prices on the district heating market has been stable, with a slight increase in the price of refined wood-fuels. However, on the young and fast-growing household market for pellets, prices have increased 12% during the last three years. The distribution of prices for northern, middle and southern Sweden indicates differences within 5% between the regions. The limited price difference between Swedish regions are a product of a large domestic supply and an increasing trade among regions in Europe, putting pressure on prices. Regional differences, mirrored as transportation distances and local production costs are key factors that could explain this regional price variation. However, the development of a commercial market with less regulation tends to level out prices. Consumers on the household market purchase small quantities and do not have the same possibility as district heating companies to take advantage of the oversupply opportunity and thus face a faster price development. The weaker market position of the consumers also tends to give homogeneous prices between regions of the residential sector. (Author)

  3. Optimal Prices and Trade-in Rebates for Durable, Remanufacturable Products

    OpenAIRE

    Saibal Ray; Tamer Boyaci; Necati Aras

    2005-01-01

    Most durable products have two distinct types of customers: first-time buyers and customers who already own the product, but are willing to replace it with a new one or purchase a second one. Firms usually adopt a price-discrimination policy by offering a trade-in rebate only to the replacement customers to hasten their purchase decisions. Any return flow of products induced by trade-in rebates has the potential to generate revenues through remanufacturing operations. In this paper, we study ...

  4. Refining and petrochemicals

    International Nuclear Information System (INIS)

    Benazzi, E.; Alario, F.

    2004-01-01

    In 2003, refining margins showed a clear improvement that continued throughout the first three quarters of 2004. Oil companies posted significantly higher earnings in 2003 compared to 2002, with the results of first quarter 2004 confirming this trend. Due to higher feedstock prices, the implementation of new capacity and more intense competition, the petrochemicals industry was not able to boost margins in 2003. In such difficult business conditions, aggravated by soaring crude prices, the petrochemicals industry is not likely to see any improvement in profitability before the second half of 2004. (author)

  5. Energy prices and taxes

    International Nuclear Information System (INIS)

    2004-01-01

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

  6. Renewable electricity production costs-A framework to assist policy-makers' decisions on price support

    International Nuclear Information System (INIS)

    Dinica, Valentina

    2011-01-01

    Despite recent progress, the production costs for renewable electricity remain above those for conventional power. Expectations of continuous reductions in production costs, typically underpin governments' policies for financial support. They often draw on the technology-focused versions of the Experience Curve model. This paper discusses how national-contextual factors also have a strong influence on production costs, such as geographic, infrastructural, institutional, and resource factors. As technologies mature, and as they reach significant levels of diffusion nationally, sustained increases in production costs might be recorded, due to these nationally contextual factors, poorly accounted for in policy-making decisions for price support. The paper suggests an analytical framework for a more comprehensive understanding of production costs. Based on this, it recommends that the evolution of specific cost levels and factors be monitored to locate 'sources of changes'. The paper also suggests policy instruments that governments may use to facilitate cost decreases, whenever possible. The application of the framework is illustrated for the diffusion of wind power in Spain during the past three decades. - Highlights: → Models, frameworks for policy-making on price support for renewable electricity production costs. → Policy instruments to help reduce production costs. → Limits to the influence of policies of production costs reductions.

  7. Refining revolution

    Energy Technology Data Exchange (ETDEWEB)

    Fesharaki, F.; Isaak, D.

    1984-01-01

    A review of changes in the oil refining industry since 1973 examines the drop in capacity use and its effect on profits of the Organization of Economic Cooperation and Development (OECD) countries compared to world refining. OPEC countries used their new oil revenues to expand Gulf refineries, which put additional pressure on OECD refiners. OPEC involvement in global marketing, however, could help to secure supplies. Scrapping some older OECD refineries could improve the percentage of capacity in use if new construction is kept to a minimum. Other issues facing refiners are the changes in oil demand patterns and government responses to the market. 2 tables.

  8. ACFAC: a cash flow analysis code for estimating product price from an industrial operation

    International Nuclear Information System (INIS)

    Delene, J.G.

    1980-04-01

    A computer code is presented which uses a discountted cash flow methodology to obtain an average product price for an industtrial process. The general discounted cash flow method is discussed. Special code options include multiple treatments of interest during construction and other preoperational costs, investment tax credits, and different methods for tax depreciation of capital assets. Two options for allocating the cost of plant decommissioning are available. The FORTRAN code listing and the computer output for a sample problem are included

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

    OpenAIRE

    Lei Zhang; David Levinson; Shanjiang Zhu

    2007-01-01

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

  10. North American refining

    International Nuclear Information System (INIS)

    Osten, James; Haltmaier, Susan

    2000-01-01

    This article examines the current status of the North American refining industry, and considers the North American economy and the growth in demand in the petroleum industry, petroleum product demand and quality, crude oil upgrading to meet product standards, and changes in crude oil feedstocks such as the use of heavier crudes and bitumens. Refining expansion, the declining profits in refining, and changes due to environmental standards are discussed. The Gross Domestic Product and oil demand for the USA, Canada, Mexico, and Venezuela for the years 1995-2020 are tabulated

  11. 73 Activity Based Costing and Product Pricing Decision: the Nigerian Case

    Directory of Open Access Journals (Sweden)

    Ebipanipre Gabriel Mieseigha

    2014-06-01

    Full Text Available This paper examined activity based costing and product pricing decisions in Nigeria so as to ascertain whether activity based costing have the ability to enhance profitability and control cost of manufacturing firms. Towards this end, a multiple correlation and regression estimation technique was used in analyzing the data obtained in the study. The study found that activity based costing affects product costing and pricing decision. In addition, the results showed that improved profitability and cost control can be achieved by implementing activity based costing approach by manufacturing firms. The implication is that traditional costing approach fails in many pricing situations by arbitrarily allocating indirect cost and activity based costing helps in allocating indirect cost accurately. Thus, it was recommended amongst others that activity based costing need to be practiced, maintained and implemented by manufacturing firms since it has a broad range of uses for a wide variety of company functions and operations in the area of process analysis, strategy support, time-based accounting, monitoring wastage, as well as quality and productivity management.

  12. Managing the Newsvendor Modeled Product System with Random Capacity and Capacity-Dependent Price

    Directory of Open Access Journals (Sweden)

    Qingying Li

    2015-01-01

    Full Text Available We consider a newsvendor modeled product system, where the firm provides products to the market. The supply capacity of the product is random, so the firm receives either the amount of order quantity or the realized capacity, whichever is smaller. The market price is capacity dependent. We consider two types of production cost structures: the procurement case and the in-house production case. The firm pays for the received quantity in the former case and for the ordered quantity in the latter case. We obtain the optimal order quantities for both cases. Comparing with the traditional newsvendor model, we find that the optimal order quantity in both the procurement case and the in-house production case are no greater than that in the traditional newsvendor model with a fixed selling price. We also find that the optimal order quantity for the procurement case is greater than that for the in-house production case. Numerical study is conducted to investigate the sensitivity of the optimal solution versus the distribution of the random capacity/demand.

  13. Oil production responses to price changes. An empirical application of the competitive model to OPEC and non-OPEC countries

    International Nuclear Information System (INIS)

    Ramcharran, Harri

    2002-01-01

    Falling oil prices over the last decade, accompanied by over-production by some OPEC members and the growth of non-OPEC supply, warrant further empirical investigation of the competitive model to ascertain production behavior. A supply function, based on a modification of Griffin's model, is estimated using data from 1973-1997. The sample period, unlike Griffin's, however, includes phases of price increase (1970s) and price decrease (1980s-1990s), thus providing a better framework for examining production behavior using the competitive model. The OPEC results do not support the competitive hypothesis; instead, a negative and significant price elasticity of supply is obtained. This result offers partial support for the target revenue theory. For most of the non-OPEC members, the estimates support the competitive model. OPEC's loss of market share and the drop in the share of oil-based energy should signal adjustments in price and quantity based on a competitive world market for crude oil

  14. Alcohol tax pass-through across the product and price range: do retailers treat cheap alcohol differently?

    Science.gov (United States)

    Ally, Abdallah K; Meng, Yang; Chakraborty, Ratula; Dobson, Paul W; Seaton, Jonathan S; Holmes, John; Angus, Colin; Guo, Yelan; Hill-McManus, Daniel; Brennan, Alan; Meier, Petra S

    2014-12-01

    Effective use of alcohol duty to reduce consumption and harm depends partly on retailers passing duty increases on to consumers via price increases, also known as 'pass-through'. The aim of this analysis is to provide evidence of UK excise duty and sales tax (VAT) pass-through rates for alcohol products at different price points. March 2008 to August 2011, United Kingdom. Panel data quantile regression estimating the effects of three duty changes, two VAT changes and one combined duty and VAT change on UK alcohol prices, using product-level supermarket price data for 254 alcohol products available weekly. Products were analysed in four categories: beers, ciders/ready to drink (RTDs), spirits and wines. Within all four categories there exists considerable heterogeneity in the level of duty pass-through for cheaper versus expensive products. Price increases for the cheapest 15% of products fall below duty rises (undershifting), while products sold above the median price are overshifted (price increases are higher than duty increases). The level of undershifting is greatest for beer [0.85 (0.79, 0.92)] and spirits [0.86 (0.83, 0.89)]. Undershifting affects approximately 67% of total beer sales and 38% of total spirits sales. Alcohol retailers in the United Kingdom appear to respond to increases in alcohol tax by undershifting their cheaper products (raising prices below the level of the tax increase) and overshifting their more expensive products (raising prices beyond the level of the tax increase). This is likely to impact negatively on tax policy effectiveness, because high-risk groups favour cheaper alcohol and undershifting is likely to produce smaller consumption reductions. © 2014 Society for the Study of Addiction.

  15. Production planning of combined heat and power plants with regards to electricity price spikes : A machine learning approach

    OpenAIRE

    Fransson, Nathalie

    2017-01-01

    District heating systems could help manage the expected increase of volatility on the Nordic electricity market by starting a combined heat and power production plant (CHP) instead of a heat only production plant when electricity prices are expected to be high. Fortum Värme is interested in adjusting the production planning of their district heating system more towards high electricity prices and in their system there is a peak load CHP unit that could be utilised for this purpose. The econom...

  16. 77 FR 840 - Pricing for 2012 America the Beautiful Quarters® Products and American Eagle Silver Dollars

    Science.gov (United States)

    2012-01-06

    ... DEPARTMENT OF THE TREASURY United States Mint Pricing for 2012 America the Beautiful Quarters[supreg] Products and American Eagle Silver Dollars AGENCY: United States Mint, Department of the Treasury. ACTION: Notice. SUMMARY: The United States Mint is announcing 2012 pricing for America the Beautiful...

  17. Optimization of biodiesel production from refined cotton seed oil and its characterization

    Directory of Open Access Journals (Sweden)

    Dominic Okechukwu Onukwuli

    2017-03-01

    Full Text Available Biodiesel was produced through transesterification of refined cotton seed oil with methanol and potassium hydroxide (KOH as a catalyst using batch mode. The physicochemical properties of cotton seed oil and biodiesel as an alternative fuel for diesel engine was characterized through ASTM standards for fuel tests. The functional groups of the biodiesel were investigated using Fourier transform infrared spectroscopy. Influence of key parameters like reaction temperature, reaction time, catalyst concentration and methanol/oil molar ratio were determined using batch mode. These process parameters were optimized using response surface methodology (RSM and analysis of variance (ANOVA. The significance of the different process parameters and their combined effects on the transesterification efficiency were established through a full factorial central composite design. The results obtained are in good agreement with published data for other vegetable oil biodiesel as well as various international standards for biodiesel fuel. An optimum yield of 96% was achieved with optimal conditions of methanol/oil molar ratio, 6:1; temperature, 55 °C; time, 60 min; and catalyst concentration, 0.6%. This investigation has shown that cotton seed oil from Nigeria can be used to produce biodiesel.

  18. Optimal Control of a Make-to-Stock System with Outsourced Production and Price-Sensitive Demand

    Directory of Open Access Journals (Sweden)

    Liuxin Chen

    2014-01-01

    and a choice of either high or low price, the system decides at any point in time whether to produce or even outsource for additional capacity as well as which price to sell the product at. We show in the paper that the optimal control policy is of dynamic threshold type: all decisions are based on the product inventory position which represents the state of the system; there is a state dependent base stock level to decide on production and a higher level on outsourcing; and there is a state dependent threshold which divides the choice of high and low prices.

  19. Italian refiners' environmental spending to soar in 1990s

    International Nuclear Information System (INIS)

    Anon.

    1993-01-01

    Industry estimates are that Italian refiners' capital outlays will total almost 12 trillion lire ($7.2 billion), in 1990 currencies, in the 1990's. Most spending will be earmarked to develop cleaner fuels and plant-specific environmental mitigation measures related to new European Community regulations. Italian refiners generally have lagged some of their counterparts in Europe and North America on environmental spending. That's because they have faced a continuing margin squeeze as a result of product prices remaining under tight government controls. Last year, the government began to implement price deregulation in line with EC directives. At the same time, the government is enforcing stiffer emissions rules to improve air quality in urban areas. The paper describes spending plans; demand for oxygenates; demand for low sulfur fuel oil for power plants; and price regulations

  20. Pricing and Warranty Level Decisions for New and Remanufactured Short Life-Cycle Products

    Directory of Open Access Journals (Sweden)

    Gan Shu San

    2017-06-01

    Full Text Available Remanufacturing has become more prominent as a recovery process to mitigate the massive disposal of short life-cycle product at its end-of-use. However, remanufactured product is often perceived to be inferior to new product, and it has lower value in consumer’s willingness to pay. To increase the perceived quality of the remanufactured product, manufacturer offers a warranty, since one of the three roles possessed in warranty is being a signal to product reliability. This paper studies the pricing decisions and warranty level decision for new and remanufactured products in a closed-loop supply chain consists of a manufacturer and a retailer. The optimization modeling is performed under Stackelberg game with manufacturer as the leader. We found that higher expansion effectiveness coefficient would increase the supply chain profit. Also, there is an interval of demand’s speed of change, where the total profit would be at its highest. The optimum warranty level can be achieved regardless the initial warranty level set at the beginning of retailer’s optimization. Furthermore, the remanufactured product’s wholesale and retail prices are influenced by the expansion effectiveness coefficient.

  1. Solvent-free lipase-catalyzed preparation of diglycerides from co-products of vegetable oil refining

    Directory of Open Access Journals (Sweden)

    Tangkam, Kamol

    2008-09-01

    Full Text Available Co-products of vegetable oil refining such as a mixed deodorizer distillate resulting from the refining of various vegetable oils, a crude distillate resulting from the physical refining of coconut oil and commercial mixtures of distilled sunflower and coconut fatty acids were used as starting materials for the enzymatic preparation of diglycerides. Reaction conditions (temperature, pressure, molar ratio for the formation of diglycerides by lipase-catalyzed esterification/transesterification were studied using the mixed deodorizer distillate and glycerol as starting materials. The best results were obtained with the immobilized lipase B from Candida antarctica (Novozym 435 in vacuo at 60 °C leading to moderate proportions (~52% of diglycerides. The proportion of diglycerides increased when residual acylglycerides of the co-products of vegetable oil refining were hydrolyzed prior to esterification. Thus, the esterification of hydrolyzed co-products of vegetable oil refining with glycerol led to high formation (62-72% of diglycerides. Short-path vacuum distillation of the esterification products yielded distillation residues containing from 70% to 94% diglycerides. The proportions of fatty acids and monoglycerides in the distilled residues were quite low (Subproductos del refinado de los aceites vegetales tales como el destilado obtenido en el desodorizador al refinar distintos aceites vegetales, el destilado crudo resultante de la refinación física del aceite de coco, y mezclas comerciales de los ácidos grasos obtenidos en la destilación de aceites de girasol y coco fueron utilizados como materiales de partida para la preparación enzimática de diglicéridos. Se estudiaron las condiciones de reacción (temperatura, presión, relación molar para la formación de diglicéridos mediante esterificación/ transesterificación catalizada por lipasas usando la mezcla obtenida del desodorizador y glicerol como materiales de partida. Los mejores

  2. Refining and petrochemicals

    Energy Technology Data Exchange (ETDEWEB)

    Constancio, Silva

    2006-07-01

    In 2004, refining margins showed a clear improvement that persisted throughout the first three quarters of 2005. This enabled oil companies to post significantly higher earnings for their refining activity in 2004 compared to 2003, with the results of the first half of 2005 confirming this trend. As for petrochemicals, despite a steady rise in the naphtha price, higher cash margins enabled a turnaround in 2004 as well as a clear improvement in oil company financial performance that should continue in 2005, judging by the net income figures reported for the first half-year. Despite this favorable business environment, capital expenditure in refining and petrochemicals remained at a low level, especially investment in new capacity, but a number of projects are being planned for the next five years. (author)

  3. Refining and petrochemicals

    International Nuclear Information System (INIS)

    Constancio, Silva

    2006-01-01

    In 2004, refining margins showed a clear improvement that persisted throughout the first three quarters of 2005. This enabled oil companies to post significantly higher earnings for their refining activity in 2004 compared to 2003, with the results of the first half of 2005 confirming this trend. As for petrochemicals, despite a steady rise in the naphtha price, higher cash margins enabled a turnaround in 2004 as well as a clear improvement in oil company financial performance that should continue in 2005, judging by the net income figures reported for the first half-year. Despite this favorable business environment, capital expenditure in refining and petrochemicals remained at a low level, especially investment in new capacity, but a number of projects are being planned for the next five years. (author)

  4. Indian refining industry

    International Nuclear Information System (INIS)

    Singh, I.J.

    2002-01-01

    The author discusses the history of the Indian refining industry and ongoing developments under the headings: the present state; refinery configuration; Indian capabilities for refinery projects; and reforms in the refining industry. Tables lists India's petroleum refineries giving location and capacity; new refinery projects together with location and capacity; and expansion projects of Indian petroleum refineries. The Indian refinery industry has undergone substantial expansion as well as technological changes over the past years. There has been progressive technology upgrading, energy efficiency, better environmental control and improved capacity utilisation. Major reform processes have been set in motion by the government of India: converting the refining industry from a centrally controlled public sector dominated industry to a delicensed regime in a competitive market economy with the introduction of a liberal exploration policy; dismantling the administered price mechanism; and a 25 year hydrocarbon vision. (UK)

  5. Biofuels and the Greater Mekong Subregion: Assessing the impact on prices, production and trade

    Energy Technology Data Exchange (ETDEWEB)

    Yang, Jun; Huang, Jikun; Qiu, Huanguang [Center for Chinese Agricultural Policy, Chinese Academy of Sciences and Institute of Geographical Sciences and Natural Resources Research, Jia 11, Datun Road, Beijing 100101 (China); Rozelle, Scott [Freeman Spogli Institute of International Studies, Stanford University, East Encina Hall, Stanford, CA 94305 (United States); Sombilla, Mercy A. [Southeast Asian Regional Center for Graduate Study and Research in Agriculture, College, Laguna 4031 (Philippines)

    2009-11-15

    Similar to many other countries, all nations in the Greater Mekong Subregion (GMS) have planned or are planning to develop strong national biofuel programs. The overall goal of this paper is to better understand the impacts of global and regional biofuels on agriculture and the rest of the economy, with a specific focus on the GMS. Based on a modified multi-country, multi-sector computable general equilibrium model, this study reveals that global biofuel development will significantly increase agricultural prices and production and change trade in agricultural commodities in the GMS and the rest of world. While biofuel in the GMS will have little impacts on global prices, it will have significant effects on domestic agricultural production, land use, trade, and food security. The results also show that the extent of impacts from biofuel is highly dependent on international oil prices and the degree of substitution between biofuel and gasoline. The findings of this study have important policy implications for the GMS countries and the rest of world. (author)

  6. Biofuels and the Greater Mekong Subregion: Assessing the impact on prices, production and trade

    International Nuclear Information System (INIS)

    Yang, Jun; Huang, Jikun; Qiu, Huanguang; Rozelle, Scott; Sombilla, Mercy A.

    2009-01-01

    Similar to many other countries, all nations in the Greater Mekong Subregion (GMS) have planned or are planning to develop strong national biofuel programs. The overall goal of this paper is to better understand the impacts of global and regional biofuels on agriculture and the rest of the economy, with a specific focus on the GMS. Based on a modified multi-country, multi-sector computable general equilibrium model, this study reveals that global biofuel development will significantly increase agricultural prices and production and change trade in agricultural commodities in the GMS and the rest of world. While biofuel in the GMS will have little impacts on global prices, it will have significant effects on domestic agricultural production, land use, trade, and food security. The results also show that the extent of impacts from biofuel is highly dependent on international oil prices and the degree of substitution between biofuel and gasoline. The findings of this study have important policy implications for the GMS countries and the rest of world. (author)

  7. Optimal batch production strategies under continuous price decrease and time discounting

    Directory of Open Access Journals (Sweden)

    Mandal S.

    2007-01-01

    Full Text Available Single price discount in unit cost for bulk purchasing is quite common in reality as well as in inventory literature. However, in today's high-tech industries such as personal computers and mobile industries, continuous decrease in unit cost is a regular phenomenon. In the present paper, an attempt has been made to investigate the effects of continuous price decrease and time-value of money on optimal decisions for inventoried goods having time-dependent demand and production rates. The proposed models are developed over a finite time horizon considering both shortages and without shortages in inventory. Numerical examples are taken to illustrate the developed models and to examine the sensitivity of model parameters.

  8. Productivity, pricing policy and investments in French and British nationalized electric companies

    International Nuclear Information System (INIS)

    Chick, Martin; Huret, Romain

    2003-01-01

    This is a comparative study of the development of, and interaction between, pricing, investment and productivity in the nationalised electricity industries in the United Kingdom and France between 1945 and 1973. The paper concentrates on examining why the rate of diffusion of marginal approaches to pricing and investment was faster in France than in the UK, although it notes that, in theory at least, the coverage of marginalist ideas was greater in the UK than in France by the late 1960's. The paper highlights the influence of French engineers and economists such as Marcel Boiteux and Pierre Masse on the development of applied public economics in the UK, and suggests that the experiences of 1945- 1973 were to have a significant long-term impact on subsequent attitudes towards privatisation and the promotion of competition in the electricity industry in each economy

  9. The effect of prices on nutrition: Comparing the impact of product- and nutrient-specific taxes.

    Science.gov (United States)

    Harding, Matthew; Lovenheim, Michael

    2017-05-01

    This paper provides an analysis of the role of prices in determining food purchases and nutrition using very detailed transaction-level observations for a large, nationally-representative sample of US consumers over the period 2002-2007. Using product-specific nutritional information, we develop a new method of partitioning the product space into relevant nutritional clusters that define a set of nutritionally-bundled goods, which parsimoniously characterize consumer choice sets. We then estimate a large utility-derived demand system over this joint product-nutrient space that allows us to calculate price and expenditure elasticities. Using our structural demand estimates, we simulate the role of product taxes on soda, sugar-sweetened beverages, packaged meals, and snacks, and nutrient taxes on fat, salt, and sugar. We find that a 20% nutrient tax has a significantly larger impact on nutrition than an equivalent product tax, due to the fact that these are broader-based taxes. However, the costs of these taxes in terms of consumer utility are only about 70 cents per household per day. A sugar tax in particular is a powerful tool to induce healthier nutritive bundles among consumers. Copyright © 2017 Elsevier B.V. All rights reserved.

  10. Refining margins and prospects

    International Nuclear Information System (INIS)

    Baudouin, C.; Favennec, J.P.

    1997-01-01

    Refining margins throughout the world have remained low in 1996. In Europe, in spite of an improvement, particularly during the last few weeks, they are still not high enough to finance new investments. Although the demand for petroleum products is increasing, experts are still sceptical about any rapid recovery due to prevailing overcapacity and to continuing capacity growth. After a historical review of margins and an analysis of margins by regions, we analyse refining over-capacities in Europe and the unbalances between production and demand. Then we discuss the current situation concerning barriers to the rationalization, agreements between oil companies, and the consequences on the future of refining capacities and margins. (author)

  11. Preparation of furfural from local waste agricultural products and its use to refine lube oils

    Energy Technology Data Exchange (ETDEWEB)

    Marei, A.

    1971-01-01

    This article discusses the evaluation of some United Arab Republic waste agricultural products as raw materials for the production of furfural. Batch scale preparations from corn cobs and bagasse were carried out and the furfural produced was used to extract aromatics from two waxy oil distillates. The effect of variations in extraction temperature, solvent, and addition of water to the solvent was studied. High grade lube oils were obtained by this technique. Data and tables are provided.

  12. Pricing-Decision and Coordination Contract considering Product Design and Quality of Recovery Product in a Closed-Loop Supply Chain

    OpenAIRE

    Qingming Zou; Guangyu Ye

    2015-01-01

    In a closed-loop supply chain consisting of a manufacturer and a retailer, this paper studies the pricing strategies and coordination mechanism of supply chain when the remanufacturing cost is random caused by the proportion of reusability parts in design stage and quality condition of recycling product. The results show that the wholesale price and retail price are negative correlation, while the recycling rate and total profit of supply chain system are positive correlation with the proport...

  13. Gas sector expansion: production monopoly versus free prices; Expansao do setor de gas: monopolio na producao versus precos livres

    Energy Technology Data Exchange (ETDEWEB)

    Martins, Maria Paula de Souza [Agencia de Servicos Publicos de Energia do Estado do Espirito Santo (ASPE), Vitoria, ES (Brazil)

    2006-07-01

    This paper describes the necessary conditions to develop Brazil's natural gas sector with production, reserves, main uses, sources, inputs, main players, laws, regulatory aspects, prices, supply, demand, market, monopoly and free competition. (author)

  14. 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.

  15. Cost and price estimate of Brayton and Stirling engines in selected production volumes

    Science.gov (United States)

    Fortgang, H. R.; Mayers, H. F.

    1980-01-01

    The methods used to determine the production costs and required selling price of Brayton and Stirling engines modified for use in solar power conversion units are presented. Each engine part, component and assembly was examined and evaluated to determine the costs of its material and the method of manufacture based on specific annual production volumes. Cost estimates are presented for both the Stirling and Brayton engines in annual production volumes of 1,000, 25,000, 100,000 and 400,000. At annual production volumes above 50,000 units, the costs of both engines are similar, although the Stirling engine costs are somewhat lower. It is concluded that modifications to both the Brayton and Stirling engine designs could reduce the estimated costs.

  16. Vital signs : twice-blessed by gains in both production volumes and prices

    International Nuclear Information System (INIS)

    Lunan, D.

    2000-01-01

    Canadian producers of oil and natural gas are taking advantage of the current high energy prices to run their productions at capacity and to expand their businesses. During the first half of 2000, producers reported huge revenue, earnings and cash flow gains and the trend is expected to continue for some time. This paper presented production statistics for natural gas and oil for each producing region in Canada. Natural gas and oil exports and consumption statistics for the past two decades were also included. Canadian natural gas production rose 1.4 per cent during the first four months of 2000. Oil exports also increased 14 per cent year-over-year in the January to April period. This trend is also expected to continue as demand for energy increases and U.S. production continues to lag. The U.S. has forecasted a double-digit growth in imports of Canadian gas for the coming year. 5 tabs

  17. Price elasticity of demand of non-cigarette tobacco products: a systematic review and meta-analysis.

    Science.gov (United States)

    Jawad, Mohammed; Lee, John Tayu; Glantz, Stanton; Millett, Christopher

    2018-01-23

    To systematically review the price elasticity of demand of non-cigarette tobacco products. Medline, Embase, EconLit and the Web of Science without language or time restrictions. Two reviewers screened title and abstracts, then full texts, independently and in duplicate. We based eligibility criteria on study design (interventional or observational), population (individuals or communities without geographic restrictions), intervention (price change) and outcome (change in demand). We abstracted data on study features, outcome measures, statistical approach, and single best own- and cross-price elasticity estimates with respect to cigarettes. We conducted a random effects meta-analysis for estimates of similar product, outcome and country income level. For other studies we reported median elasticities by product and country income level. We analysed 36 studies from 15 countries yielding 125 elasticity estimates. A 10% price increase would reduce demand by: 8.3% for cigars (95% CI 2.9 to 13.8), 6.4% for roll your owns (95% CI 4.3 to 8.4), 5.7% for bidis (95% CI 4.3 to 7.1) and 2.1% for smokeless tobacco (95% CI -0.6 to 4.8). Median price elasticities for all ten products were also negative. Results from few studies that examined cross-price elasticity suggested a positive substitution effect between cigarette and non-cigarette tobacco products. There is sufficient evidence in support of the effectiveness of price increases to reduce consumption of non-cigarette tobacco products as it is for cigarettes. Positive substitutability between cigarette and non-cigarette tobacco products suggest that tax and price increases need to be simultaneous and comparable across all tobacco products. © Article author(s) (or their employer(s) unless otherwise stated in the text of the article) 2018. All rights reserved. No commercial use is permitted unless otherwise expressly granted.

  18. Faculty Rank System, Research Motivation, and Faculty Research Productivity: Measure Refinement and Theory Testing.

    Science.gov (United States)

    Tien, Flora F.; Blackburn, Robert T.

    1996-01-01

    A study explored the relationship between the traditional system of college faculty rank and faculty research productivity from the perspectives of behavioral reinforcement theory and selection function. Six hypotheses were generated and tested, using data from a 1989 national faculty survey. Results failed to support completely either the…

  19. Mill demonstration of TMP production from forest thinnings: pulp quality, refining energy, and handsheet properties

    Science.gov (United States)

    J.Y. Zhu; C. Tim Scott; Roland Gleisner; Doreen Mann; D.P. Dykstra; G. Holton Quinn; Louis L. Edwards

    2007-01-01

    High-value, large-volume utilization of forest thinning materials from U.S. national forests is a potentially important contributor to sustainable forest health. This study demonstrated the utilization of wood chips produced from thinnings for the production of thermomechanical pulp (TMP). Both whole-log chips (primarily from small-diameter logs, tops, and reject logs...

  20. Anaerobic digestion of residues from production and refining of vegetable oils as an alternative to conventional solutions.

    Science.gov (United States)

    Torrijos, M; Thalla, Arun Kumar; Sousbie, P; Bosque, F; Delgenès, J P

    2008-01-01

    The purpose of this work was to study the anaerobic digestion of by-products generated during the production and refining of oil with the objective of proposing an alternative solution (methanisation) to the conventional solutions while reducing the energy consumption of fossil origin on refinery sites. The production of sunflower oil was taken as example. Glycerine from the production of biodiesel was also included in this study. The results show that glycerine has a high potential for methanisation because of its high methane potential (465 ml CH4/g VS) and high metabolization rates (0.42 g VS/g VSS.d). The use of oil cake as substrate for anaerobic digestion is not interesting because it has a low methane potential of 215 ml CH4/g VS only and because it is easily recovered in animal feed. Six residues have quite a high methane potential (465 to 850 ml CH4/g VS) indicating a good potential for anaerobic digestion. However, they contain a mixture of rapidly and slowly biodegradable organic matter and the loading rates must remain quite low (0.03 to 0.09 g VS/g VSS.d) to prevent any accumulation of slowly biodegradable solids in the digesters. IWA Publishing 2008.

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

    Science.gov (United States)

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

    2015-10-23

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

  2. Steam explosion and its combinatorial pretreatment refining technology of plant biomass to bio-based products.

    Science.gov (United States)

    Chen, Hong-Zhang; Liu, Zhi-Hua

    2015-06-01

    Pretreatment is a key unit operation affecting the refinery efficiency of plant biomass. However, the poor efficiency of pretreatment and the lack of basic theory are the main challenges to the industrial implementation of the plant biomass refinery. The purpose of this work is to review steam explosion and its combinatorial pretreatment as a means of overcoming the intrinsic characteristics of plant biomass, including recalcitrance, heterogeneity, multi-composition, and diversity. The main advantages of the selective use of steam explosion and other combinatorial pretreatments across the diversity of raw materials are introduced. Combinatorial pretreatment integrated with other unit operations is proposed as a means to exploit the high-efficiency production of bio-based products from plant biomass. Finally, several pilot- and demonstration-scale operations of the plant biomass refinery are described. Based on the principle of selective function and structure fractionation, and multi-level and directional composition conversion, an integrated process with the combinatorial pretreatments of steam explosion and other pretreatments as the core should be feasible and conform to the plant biomass refinery concept. Combinatorial pretreatments of steam explosion and other pretreatments should be further exploited based on the type and intrinsic characteristics of the plant biomass used, the bio-based products to be made, and the complementarity of the processes. Copyright © 2015 WILEY-VCH Verlag GmbH & Co. KGaA, Weinheim.

  3. The Effect of Vegetation Productivity on Millet Prices in the Informal Markets of Mali, Burkina Faso and Niger

    Energy Technology Data Exchange (ETDEWEB)

    Brown, M.E. [Department of Geography, University of Maryland, NASA Goddard Space Flight Center, Code 923, Greenbelt, MD 20771 (United States); Pinzon, J.E. [Science Systems and Applications Inc., NASA Goddard Space Flight Center, Code 923, Greenbelt, MD (United States); Prince, S.D. [Department of Geography, University of Maryland, College Park, MD (United States)

    2006-09-15

    Systematic evaluation of food security throughout the Sahel has been attempted for nearly two decades. Food security analyses have used both food prices to determine the ability of the population to access food, and satellite-derived vegetation indices that measure vegetation production to establish how much food is available each year. The relationship between these two food security indicators is explored here using correspondence analysis and through the use of Markov chain models. Two sources of quantitative data were used: 8 km normalized difference vegetation index (NDVI) data from the Advanced Very High Resolution Radiometers (AVHRR) carried on the NOAA series of satellites, and monthly millet prices from 445 markets in Mali, Niger and Burkina Faso. The results show that the growing season vegetation production is related to the price of millet at the annual and the seasonal time scales. If the growing season was characterized by erratic, sparse rainfall, it resulted in higher prices, and well-distributed, abundant rainfall resulted in lower prices. The correspondence between vegetation production and millet prices is used to produce maps of millet prices for West Africa.

  4. South Korea - oil refining overview

    International Nuclear Information System (INIS)

    Hayes, D.

    1999-01-01

    Following the economic problems of the 1990s, the petroleum refining industry of South Korea underwent much involuntary restructuring in 1999 with respect to takeovers and mergers and these are discussed. The demand for petroleum has now pretty well recovered. The reasons for fluctuating prices in the 1990s, how the new structure should be cushioned against changes in the future, and the potential for South Korea to export refined petroleum, are all discussed

  5. Accelerator based production of fissile nuclides, threshold uranium price and perspectives

    International Nuclear Information System (INIS)

    Djordjevic, D.; Knapp, V.

    1988-01-01

    Accelerator breeder system characteristics are considered in this work. One such system which produces fissile nuclides can supply several thermal reactors with fissile fuel, so this system becomes analogous to an uranium enrichment facility with difference that fissile nuclides are produced by conversion of U-238 rather than by separation from natural uranium. This concept, with other long-term perspective for fission technology on the basis of development only one simpler technology. The influence of basic system characteristics on threshold uranium price is examined. Conditions for economically acceptable production are established. (author)

  6. Effect of crude oil and refined petroleum product imports on the national security. Critical technologies

    International Nuclear Information System (INIS)

    1989-01-01

    The report contains the results of an investigation requested under Section 232 of the Trade Expansion Act to study the effect of oil imports on the domestic petroleum industry and on United States energy security. It reviews previous energy security assessments and resulting initiatives, assesses current US energy security, and studies emergency petroleum requirements. The report finds that there have been substantial improvements in US energy security since the last Section 232 Petroleum finding in 1979. However, declining domestic oil production, rising oil imports, and growing dependence on potentially insecure sources of supply raise concerns of vulnerability to a major supply disruption

  7. Pricing decision model for new and remanufactured short-life cycle products with time-dependent demand

    Directory of Open Access Journals (Sweden)

    Shu San Gan

    2015-12-01

    Full Text Available In this study we develop a model that optimizes the price for new and remanufactured short life-cycle products where demands are time-dependent and price sensitive. While there has been very few published works that attempt to model remanufacturing decisions for products with short life cycle, we believe that there are many situations where remanufacturing short life cycle products is rewarding economically as well as environmentally. The system that we model consists of a retailer, a manufacturer, and a collector of used product from the end customers. Two different scenarios are evaluated for the system. The first is the independent situation where each party attempts to maximize his/her own total profit and the second is the joint profit model where we optimize the combined total profit for all three members of the supply chain. Manufacturer acts as the Stackelberg leader in the independently optimized scenario, while in the other the intermediate prices are determined by coordinated pricing policy. The results suggest that (i reducing the price of new products during the decline phase does not give better profit for the whole system, (ii the total profit obtained from optimizing each player is lower than the total profit of the integrated model, and (iii speed of change in demand influences the robustness of the prices as well as the total profit gained.

  8. 78 FR 69553 - Domestic Competitive Products Pricing and Mailing Standards Changes

    Science.gov (United States)

    2013-11-20

    ... online intercept request. Retail customers who file their request through usps.com may add extra services... January 2012. The existing Commercial Base prices offer lower prices to customers who use online and other... $15.45. Commercial Base prices offer lower prices to customers who use online and other authorized...

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

    Energy Technology Data Exchange (ETDEWEB)

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

    2009-11-15

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

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

    International Nuclear Information System (INIS)

    Meyler, Aidan

    2009-01-01

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

  11. Changes in use of types of tobacco products by pack sizes and price segments, prices paid and consumption following the introduction of plain packaging in Australia.

    Science.gov (United States)

    Scollo, Michelle; Zacher, Meghan; Coomber, Kerri; Bayly, Megan; Wakefield, Melanie

    2015-04-01

    To describe changes among smokers in use of various types of tobacco products, reported prices paid and cigarette consumption following the standardisation of tobacco packaging in Australia. National cross-sectional telephone surveys of adult smokers were conducted from April 2012 (6 months before transition to plain packaging (PP)) to March 2014 (15 months afterwards). Multivariable logistic regression assessed changes in products, brands and pack types/sizes; multivariable linear regression examined changes in inflation-adjusted prices paid and reported cigarette consumption between the pre-PP and three subsequent periods-the transition phase, PP year 1 and PP post-tax (post a 12.5% tax increase in December 2013). The proportion of current smokers using roll-your-own (RYO) products fluctuated over the study period. Proportions using value brands of factory-made (FM) cigarettes increased from pre-PP (21.4%) to PP year 1 (25.5%; p=0.002) and PP post-tax (27.8%; pIntroduction of PP was associated with an increase in use of value brands, likely due to increased numbers available and smaller increases in prices for value relative to premium brands. Reported consumption declined following the December 2013 tax increase. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://group.bmj.com/group/rights-licensing/permissions.

  12. Possibility of use of Azgir underground nuclear cavities for burial of sulfur and her toxic compounds - products of oil refining

    International Nuclear Information System (INIS)

    Akhmetov, E.Z.; Adymov, Zh.I.

    1998-01-01

    The intensive growth of production oil and gas in Western Kazakhstan increases ecological vulnerability of an environment and a fauna because of the pressure of negative consequences arising with production, refining and transportation of the oil raw material, and also because of pernicious influence of accompanying products and wastes of oil refining manufacture being chemically dangerous and toxic, requiring special conditions of the handling, warehousing and storage for provision of ecological safety. A problem of the reclamation, safe warehousing, storage and long-term disposal (burial) of such accompanying products and wastes, as for example, sulfur and its compounds till now is not solved. For example, the mass of the accumulated mountains of crystal sulfur makes on cautious calculations from 2 up to 3 million tonnes also creates real danger of the propagation and harmful influence on the environment. The neutralization of sulfur and its compounds means removal them from the active handling with an environment, i.e. creation of such conditions in which sulfur products for a long time cannot cause harm atmosphere, underground medium and waters, vegetative and animal world. For it is offered to use underground cavities in a salt dome raising Large Azgir and the funnel-shaped hollow in persalt rocks formed as a result of underground nuclear explosions, carried out in 1978-1979 years near village Azgir Atyrau province. The sulfur products is possible to place on a long safe storage in funnel-shaped hollow (the A9 platform) volume 1,5 million cubic meters, by keeping, if necessary, an possibility of their extraction for needs of the future generations or to remove in underground nuclear cavities in stone salt (the A8 and A11 platforms) total volume 330000 cubic meters, from which it is not provided in the future to take out the sulfur products. At this the sulfur is removed from an environment on a storage or burial in the inactive form, i.e. the sulfur products

  13. Fuel prices around the world: From prosperity to turmoil

    International Nuclear Information System (INIS)

    Anon.

    1992-01-01

    This issue examines price changes of petroleum products in some 40 countries around the world. Both political turmoil and economic prosperity shape government policy in managing consumer prices of petroleum products. Brazil has experienced extreme political and economic instability that sent prices skyrocketing and the national currency plummeting. Meanwhile, economic growth in South Korea has given the population the wealth for automobiles and stretched the country's ability to supply its unquenchable demand. Fuel prices around the world were higher in July 1992 than in January 1992, mainly due to higher crude prices. This issue also presents the following: (1) the ED Refining Netback Data Series for the US Gulf and West Coasts, Rotterdam, and Singapore as of October 23, 1992; and (2) the ED Fuel Price/Tax Series for countries of the Eastern Hemisphere, October 1992 edition

  14. PHARMACEUTICAL QUALITY OF GENERIC ATORVASTATIN PRODUCTS COMPARED WITH THE INNOVATOR PRODUCT: A NEED FOR REVISING PRICING POLICY IN PALESTINE.

    Science.gov (United States)

    Shawahna, Ramzi; Hroub, Abdel Kareem; Abed, Eliama; Jibali, Sondos; Al-Saghir, Ruba; Zaid, Abdel Naser

    2016-01-01

    Atorvastatin reduces morbidity and mortality due to cardiovascular events. This study was conducted to assess the prices and pharmaceutical quality of innovator atorvastatin 20 mg with its locally available generics in Palestine and to assess the suitability of their interchangeability. The prices of innovator and generic atorvastatin 20 mg were determined and compared. Innovator atorvastatin and four generic products were tested for their pharmaceutical quality. Tablets were tested for their drug contents, weight uniformity, hardness, disintegration and dissolution. Three out of four generics were less expensive than the innovator. Pharmaceutical quality assessments were satisfactory and within limits for all atorvastatin tested products. The average weight ranged from 206.6 ± 8.40 to 330 ± 3.92 mg and the %RSDs were within the permitted limits as per USP. Tablet hardness ranged from 102 ± 1.41 to 197.4 ± 6.88 kg and drug contents ranged from 92.2% to 105.3%. All products disintegrated within permitted time limits and showed very rapid dissolution. Products released more than 85% of their drug contents in less than 15 min. Our results showed that all tested innovator and generic atorvastatin products were of good pharmaceutical quality. Despite the lack of in vivo evaluation, our results indicate that these products are equivalent in vitro. Considering the in vitro release characteristics, these products might be used interchangeably. However, regulatory authorities permit the use of in vitro data in establishing similarity between immediate release oral dosage forms containing biopharmaceutical classification system class I and III drugs only.

  15. Designing an agricultural vegetative waste-management system under uncertain prices of treatment-technology output products.

    Science.gov (United States)

    Broitman, D; Raviv, O; Ayalon, O; Kan, I

    2018-05-01

    Setting up a sustainable agricultural vegetative waste-management system is a challenging investment task, particularly when markets for output products of waste-treatment technologies are not well established. We conduct an economic analysis of possible investments in treatment technologies of agricultural vegetative waste, while accounting for fluctuating output prices. Under a risk-neutral approach, we find the range of output-product prices within which each considered technology becomes most profitable, using average final prices as the exclusive factor. Under a risk-averse perspective, we rank the treatment technologies based on their computed certainty-equivalent profits as functions of the coefficient of variation of the technologies' output prices. We find the ranking of treatment technologies based on average prices to be robust to output-price fluctuations provided that the coefficient of variation of the output prices is below about 0.4, that is, approximately twice as high as that of well-established recycled-material markets such as glass, paper and plastic. We discuss some policy implications that arise from our analysis regarding vegetative waste management and its associated risks. Copyright © 2018 Elsevier Ltd. All rights reserved.

  16. ANALYSIS OF GROSS REGIONAL PRODUCT FLUCTUATIONS AND ELECTRIC POWER CONSUMPTION IN 2005- 2014. RESERVES FOR DECREASING ELECTRIC POWER PRICES

    Directory of Open Access Journals (Sweden)

    Suslov N. I.

    2016-09-01

    Full Text Available In this work we considered the trajectories of change in indicators characterizing the status of economics and power industry: gross regional product, electric power consumption, industrial production, energy prices and costs of delivering electric power to consumers in Russian regions for the last 10 years. Low global commodity prices and sanctions led to a sharp decrease of equipment import, which resulted in an acute problem of import substitution. The level of tariffs of natural monopolies is of great importance for industrial development. The goal of this work was to analyze possibilities for reducing electric power prices by changing the institutional and economic conditions of management. We analyzed not only the official information from Rosstat, but also government regulations, figures given in the official government publication «The Rossiyskaya Gazeta» as well as articles and interviews on economic problems of the electric power industry over the recent years published in «The Kommersant» newspaper. High tariffs of network marketing companies for electric energy transmission, state regulation of heating prices, financing the construction of new capacities by charging the payment in power provision contracts, high price of electric power of nuclear power plants lead to an annual increase in electric power prices for end users. In this work we considered possible solutions to limit the growth of electric power prices.

  17. 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.

  18. Economic missions. Synthetic file: the petroleum sector in Brazil (exploration and production); the refining activity in Brazil; natural gas in Brazil: a fragile market, inferior to forecasts

    International Nuclear Information System (INIS)

    Anon.

    2002-01-01

    This dossier prepared by the economic mission of the French embassy in Brazil makes a synthesis of the exploration-production and refining activities of the petroleum industry, and of the natural gas distribution market in Brazil: oil reserves and production, Petrobras company, partnership agreements with Petrobras, legal aspects, concessions, projects financing, refining capacity, refinery projects in progress or under study, para-petroleum market perspectives and opportunities, natural gas market development, pipelines network, gas utilities, privatization and foreign participation, lack of expertise and of gas infrastructures and equipments. (J.S.)

  19. Estimating shadow prices and efficiency analysis of productive inputs and pesticide use of vegetable production

    NARCIS (Netherlands)

    Singbo, Alphonse G.; Lansink, Alfons Oude; Emvalomatis, Grigorios

    2015-01-01

    This paper analyzes technical efficiency and the value of the marginal product of productive inputs vis-a-vis pesticide use to measure allocative efficiency of pesticide use along productive inputs. We employ the data envelopment analysis framework and marginal cost techniques to estimate

  20. Estimating productivity with multi-product firms, pricing heterogeneity and the role of international trade

    DEFF Research Database (Denmark)

    Smeets, Valerie Anne Rolande; Warzynski, Frederic Michel Patrick

    In this paper, we analyze the relationship between exports, imports and firm productivity. We use a rich product-firm-level dataset providing both revenue and quantities of all products for a large panel of Danish manufacturing firms over the period 1998-2008 and link it to firms’ international...

  1. Effect of fertilizer formulation and bioaugmentation on biodegradation and leaching of crude oils and refined products in soils.

    Science.gov (United States)

    Coulon, F; Brassington, K J; Bazin, R; Linnet, P E; Thomas, K A; Mitchell, T R; Lethbridge, G; Smith, J W N; Pollarda, S J T

    2012-09-01

    The effects of soil characteristics and oil types as well as the efficacy of two fertilizer formulations and three bioaugmentation packages in improving the bioremediation of oil-contaminated soils were assessed as a means of ex situ treatment selection and optimization through seven laboratory microcosm studies. The influence of bioremediation on leaching of oil from the soil was also investigated. The studies demonstrated the benefits ofbiostimulation to overcome nutrient limitation, as most of the soils were nutrient depleted. The application of both liquid and pelleted slow-release N and P fertilizers increased both the hydrocarbon biodegradation rates (by a factor of 1.4 to 2.9) and the percentage of hydrocarbon mass degraded (by > 30% after 12 weeks and 80% after 37 weeks), when compared with the unamended soils. Slow-release fertilizers can be particularly useful when multiple liquid applications are not practical or cost-effective. Bioaugmentation products containing inoculum plus fertilizer also increased biodegradation by 20% to 37% compared with unamended biotic controls; however, there was no clear evidence of additional benefits due to the inocula, compared with fertilizer alone. Therefore biostimulation is seen as the most cost-effective bioremediation strategy for contaminated soils with the levels of crude oil and refined products used in this study. However, site-specific considerations remain essential for establishing the treatability of oil-contaminated soils.

  2. Impacts of the U.S. subsidy to soybeans on World prices, production and exports

    Directory of Open Access Journals (Sweden)

    Antônio Salazar P. Brandão

    2006-12-01

    Full Text Available This paper specifies and estimates an econometric model of the soybean market (grain, oil and meal to assess the effects of U.S. domestic support to soybeans on world soybean prices, production and exports. The model divides the world into five regions (modules: Argentina, Brazil, the European Union, the United States (US and the Rest of the World (ROW. There are interactions between the modules through the international prices and the net exports of each soybean product. The international prices of grain, oil and meal are endogenous and are determined equating net exports of the first four modules (Argentina, Brazil, European Union and the U.S. to net imports of the ROW. The analysis is conducted eliminating the U.S. domestic support to soybeans and simulating the impacts on the variables of interest. The simulations show a significant impact of the US subsidy to soybeans on world prices and net exports of the four selected regions.Este trabalho estima um modelo econométrico do mercado de soja e derivados com o objetivo de avaliar os efeitos das políticas de apoio interno dos Estados Unidos sobre os preços internacionais, sobre a produção e sobre as exportações. O modelo divide o mundo em cinco regiões: Argentina, Brasil, Estados Unidos, União Européia e Demais países. A interação entre as regiões ocorre através dos preços internacionais e pelas exportações líquidas em cada um dos mercados. Os preços internacionais dos três produtos são determinados igualando-se a soma das exportações líquidas das cinco regiões. A análise é feita eliminando o apoio doméstico nos Estados Unidos e simulando o impacto nas variáveis de interesse. As simulações mostram impactos significativos do subsídio americano sobre os preços internacionais e sobre as exportações líquidas de Argentina, Brasil, Estados Unidos e União Européia.

  3. PRICE-RESPONSE ASYMMETRY IN DOMESTIC WHOLESALE AND RETAIL DIESEL 2 MARKETS IN PERU

    OpenAIRE

    Arturo Vasquez Cordano

    2005-01-01

    This paper tests and confirms the hypothesis that retail and wholesale Diesel 2 prices respond more quickly to increases than to decreases in wholesale and crude oil prices, respectively. Among the possible sources of this asymmetry, we find: production / inventory adjustment lags, refining adjustments, market power of some sellers, searching costs, among others. By analyzing price transmission at different points of the distribution chain, this paper attempts to shed light on these theories ...

  4. An EPLS model for a variable production rate with stock-price sensitive demand and deterioration

    Directory of Open Access Journals (Sweden)

    Roy T.

    2012-01-01

    Full Text Available It is observed that large piles of consumer goods displayed in supermarkets lead consumers to buy more, which generates more profit to sellers. But a large number of on-hand display of stock leaves a negative impression on the buyer. Also, the amount of shelf or display space is limited. Due to this reason, we impose a restriction on the number of on-hand display of stock and also on initial and ending on-hand stock levels. We introduce an economic production lot size model, where production rate depends on stock and selling price per unit. A constant fraction deterioration rate is considered in this model. To illustrate the results of the model, four numerical examples are established. Sensitivity analysis of the changes of parameter values is also given.

  5. The economic cost of low domestic product prices in OPEC Member Countries

    International Nuclear Information System (INIS)

    Guerer, N.; Ban, J.

    2000-01-01

    The present state of subsidies on major oil products (gasoline, kerosene, diesel and fuel oil) in OPEC Member Countries is analysed, in order to quantify their economic cost, keeping in mind the importance of reforming or gradually removing subsidies as one of the crucial economic challenges facing many Member Countries. The paper begins with a general definition and description of subsidies, then discusses briefly the key issues in reforming/removing them, with the potential benefits. Following a section on subsidy level estimations in recent years, the subsidy implications in terms of the accruing budget burden and foregone revenues from additional export potential are presented. This is together with some arguments supporting the process of adjustment towards internationally competitive prices for oil products as an inescapable development for Member Countries; this should progress in gradual, but firm steps. (author)

  6. Marijuana as a 'concept' flavour for cigar products: availability and price near California schools.

    Science.gov (United States)

    Henriksen, Lisa; Schleicher, Nina C; Ababseh, Kimberly; Johnson, Trent O; Fortmann, Stephen P

    2017-10-12

    To assess the retail availability of cigar products that refer to marijuana and the largest package size of cigarillos available for ≤$1. Trained data collectors conducted marketing surveillance in a random sample of licensed tobacco retailers that sold little cigars/cigarillos (LCCs) (n=530) near a statewide sample of middle and high schools (n=132) in California. Multilevel models examined the presence of marijuana co-marketing and cigarillo pack size as a function of school/neighbourhood characteristics and adjusted for store type. Of stores that sold LCCs, approximately 62% contained at least one form of marijuana co-marketing: 53.2% sold cigar wraps marketed as blunt wraps, 27.2% sold cigarillos marketed as blunts and 26.0% sold at least one LCC with a marijuana-related 'concept' flavour. Controlling for store type, marijuana co-marketing was more prevalent in school neighbourhoods with a higher proportion of young residents (ages 5-17 years) and with lower median household income. Nearly all stores that sold LCCs (87.9%) offered the products for ≤$1. However, significantly larger packs at similarly low prices were available near schools in lower-income neighbourhoods and with a lower percentage of Hispanic students. Understanding how the tobacco industry manipulates cigar products and marketing to capitalise on the appeal of marijuana to youth and other priority populations is important to inform regulation, particularly for flavoured tobacco products. In addition, the retail availability of five and six packs of LCCs for ≤$1 near California schools underscores policy recommendations to establish minimum prices for multipacks. © Article author(s) (or their employer(s) unless otherwise stated in the text of the article) 2017. All rights reserved. No commercial use is permitted unless otherwise expressly granted.

  7. Action Refinement

    NARCIS (Netherlands)

    Gorrieri, R.; Rensink, Arend; Bergstra, J.A.; Ponse, A.; Smolka, S.A.

    2001-01-01

    In this chapter, we give a comprehensive overview of the research results in the field of action refinement during the past 12 years. The different approaches that have been followed are outlined in detail and contrasted to each other in a uniform framework. We use two running examples to discuss

  8. Petroleum product refining: plant level analysis of costs and competitiveness. Implications of greenhouse gas emission reductions. Vol 1

    International Nuclear Information System (INIS)

    Kelly, S.J.; Crandall, G.R.; Houlton, G.A.; Kromm, R.B.

    1999-01-01

    Implications on the Canadian refining industry of reducing greenhouse gas (GHG) emissions to meet Canada's Kyoto commitment are assessed, based on a plant-level analysis of costs, benefits and economic and competitive impacts. It was determined on the basis of demand estimates prepared by Natural Resources Canada that refining industry carbon dioxide emissions could be as much a 38 per cent higher than 1990 levels in 2010. Achieving a six per cent reduction below 1990 levels from this business-as-usual case is considered a very difficult target to achieve, unless refinery shutdowns occur. This would require higher imports to meet Canada's petroleum products demand, leaving total carbon dioxide emissions virtually unchanged. A range of options, classified as (1) low capital, operating efficiency projects, (2) medium capital, process/utility optimization projects, (3) high capital, refinery specific projects, and (4) high operating cost GHG projects, were evaluated. Of these four alternatives, the low capital or operating efficiency projects were the only ones judged to have the potential to be economically viable. Energy efficiency projects in these four groups were evaluated under several policy initiatives including accelerated depreciation and a $200 per tonne of carbon tax. Result showed that an accelerated depreciation policy would lower the hurdle rate for refinery investments, and could achieve a four per cent reduction in GHG emissions below 1990 levels, assuming no further shutdown of refinery capacity. The carbon tax was judged to be potentially damaging to the Canadian refinery industry since it would penalize cracking refineries (most Canadian refineries are of this type); it would provide further uncertainty and risk, such that industry might not be able to justify investments to reduce emissions. The overall assessment is that the Canadian refinery industry could not meet the pro-rata Kyoto GHG reduction target through implementation of economically

  9. The Hotelling Principle, backwardation of futures prices and the values of developed petroleum reserves. The production constraint hypothesis

    International Nuclear Information System (INIS)

    Thompson, A.C.

    2001-01-01

    We explore the practitioner-stylized facts that petroleum wells require large initial investments, have daily production capacities, and have small marginal costs for production rates meaningfully below these capacities. Long-run backwardation of futures prices is required to induce drilling new wells. In contrast to Miller and Upton (1985a,b) and Litzenberger and Rabinowitz (1995), production from developed reserves is essentially a corner solution at capacity regardless of backwardation or price volatility. Economically interesting supply decisions take the form of investment in exploration and drilling. Empirical evidence strongly rejects the Miller and Upton hypothesis in favor of our more general model

  10. The changing face of U.S. refining: Ominous notes

    International Nuclear Information System (INIS)

    Anon.

    1992-01-01

    As environmental protection comes of age in the US, a complex series of structural changes is also expected - in enforcement bureaucracy, manufacturing, and in energy consumption. It is already quite obvious in the petroleum refining industry. A side effect may be the export of jobs. Buyouts and closures are expected, as is increased refined product import dependency. This issue updates expected changes in gasoline and distillate product requirements in the US, and reports some ominous statements from some of the oil industry's affected parties. This issue also presented the following: (1) the ED Refining Netback Data Series for the US Gulf and West Coasts, Rotterdam, and Singapore as of Jan. 24, 1992; and (2) the ED Fuel Price Tax Series for countries of the Eastern Hemisphere, Jan. 1992 edition

  11. The Effect of Biogas Production on Farmland Rental Prices: Empirical Evidences from Northern Italy

    Directory of Open Access Journals (Sweden)

    Eugenio Demartini

    2016-11-01

    Full Text Available In the last decade, increased environmental awareness has prompted the adoption of incentives for exploiting renewable energy sources. Among these, biogas production has received a certain attention in developed countries. Nonetheless, the subsidies provided have posed the problem of an activity (the production of bioenergy that engages in direct competition with food and feed production for limited resources, like agricultural land. Even if this competition may be softened by allocating marginal land and/or using dedicated non-agricultural crops, empirical evidence shows that biogas plants have been developed in highly-productive agricultural areas, using increasing amounts of maize silage as feedstock. Thus, studies aimed at measuring the effect of biogas production on agricultural activities are needed in order to avoid this socially undesirable outcome. The paper presents an econometric estimation of the impact of biogas plants on farmland rental values of a Northern Italian rural area. Results show that biogas has a non-linear effect on rental prices, suggesting that incentive schemes specifically accounting for plants’ dimensions and technologies would improve the social sustainability of the bioenergy sector and its coexistence with agricultural activity.

  12. Refining and petrochemicals

    International Nuclear Information System (INIS)

    Benazzi, E.

    2003-01-01

    Down sharply in 2002, refining margins showed a clear improvement in the first half-year of 2003. As a result, the earnings reported by oil companies for financial year 2002 were significantly lower than in 2001, but the prospects are brighter for 2003. In the petrochemicals sector, slow demand and higher feedstock prices eroded margins in 2002, especially in Europe and the United States. The financial results for the first part of 2003 seem to indicate that sector profitability will not improve before 2004. (author)

  13. The heavy oil refiners needs in the future

    International Nuclear Information System (INIS)

    Sauer, J.W.

    1991-01-01

    In the 1970s oil crisis, the high price differential that developed between heavy and light crude led to an expansion in heavy crude processing geared to producing light oil products. The subsequent collapse in prices meant that heavy crudes with low netbacks were shut in, heavy crude refining capacity exceeded the restrained production of heavy crudes, and refineries were operating at losses. However, the low prices for oil rekindled demand and spare production capacity has been absorbed. The crude oil price is forecast to rise to ca $27/bbl by the late 1990s, which is favorable for heavy crude oil production. Nevertheless, investments in heavy crude production are exposed to a high degree of risk. A strategy for dealing with this risk is to integrate into downstream, which makes more sense for heavy crude producers than for conventional producers. On the other hand, such integration is capital-intensive, and light oils will likely be favored in crude oil production developments for the next several years. Low prices for natural gas will make it hard to find markets for residual fuel made from heavy crudes. 8 figs

  14. A Comparison of Pricing Strategies for Bibliographical Databases on CDROM and Equivalent Printed Products.

    Science.gov (United States)

    Rowley, Jennifer; Butcher, David

    1994-01-01

    Considers comparative prices for bibliographic data on CD-ROM and in print. Topics addressed include differences in the nature of bibliographic data in the two media, the relative complexities of pricing structure, varying policies on network pricing, and standardization of the licensing arrangement. (KRN)

  15. Continuous production of biofuel from refined and used palm olein oil with supercritical methanol at a low molar ratio

    International Nuclear Information System (INIS)

    Sakdasri, Winatta; Sawangkeaw, Ruengwit; Ngamprasertsith, Somkiat

    2015-01-01

    Highlights: • Continuous production of biofuel in SCM at low molar ratio was studied. • The actual density of mixture was applied to calculate residence times. • The maximum FAME of 80–90% was observed for refined and used palm oils. • The glycerol–methanol reaction showed a positive effect in fuel yield. - Abstract: The high energy consumption and high environmental impact in the supercritical methanol (SCM) process primarily originates from the preheating of reactants and the recovery of excess alcohols. This work demonstrated the synthesis of biofuel using a lowered methanol to oil molar ratio of 12:1, instead of the 40:1–42:1 ratios that are commonly employed in conventional SCM. The apparent density of the reacting mixture was measured and applied to accurately calculate residence times in a continuous reactor. The effects of residence time were considered from 10 to 25 min. The results revealed that excessive residence times reduced the ester content, especially for unsaturated esters, in the resulting biofuel. A residence time of 20 min was recommended to simultaneously achieve a maximum ester content of 90% and a triglyceride conversion of up to 99%. Used palm olein oil with high free fatty acid (4.56 wt.%) can be employed as a feedstock and give a maximum ester content of 80%. In addition, the side reaction between glycerol and methanol at 400 °C and 15 MPa showed a positive effect in increasing fuel yield by 2%–7%

  16. Strategic issues and implications for the refining and marketing sector

    International Nuclear Information System (INIS)

    Jeffe, R.A.

    1995-01-01

    Refiners have faced a challenging business environment for the past decade. During this period, the industry has made approximately $25 billion of capital expenditures primarily to comply with increased governmental mandates, faced highly volatile petroleum product prices and garnered a return to equity of only 5%. While worldwide and US refining capacity has been flat in recent years, demand for refined petroleum products has been on the upswing and domestic supplies have also increased due to improved US capacity utilization rates (76% in 1984 and 93% in 1994) and increased imports (gasoline sales up 11% since 1984). The result has been highly volatile and generally weak refining margins (net Gulf Coast crack spread ranging from ($.95)/bbl in 1984 to $1.84/bbl in 1990 and averaging $.81/bbl since 1984). In response to the sustained difficulties in the marketplace, one has recently witnessed some strategic realignment in the industry. Several of the integrated companies, frustrated with the required capital expenditures and meager returns, have decided to shed non-core, non-strategic refining assets. For the most part, these assets have been bought by independents at, by historical measures, very attractive terms. This paper will provide an overview of the economics of the refining business, discuss the recent trends in refinery M and A activity and summarize possible implications of the recent strategic realignment

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

    International Nuclear Information System (INIS)

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

    1999-01-01

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

  18. Refinement of Modeled Aqueous-Phase Sulfate Production via the Fe- and Mn-Catalyzed Oxidation Pathway

    Directory of Open Access Journals (Sweden)

    Syuichi Itahashi

    2018-04-01

    Full Text Available We refined the aqueous-phase sulfate (SO42− production in the state-of-the-art Community Multiscale Air Quality (CMAQ model during the Japanese model inter-comparison project, known as Japan’s Study for Reference Air Quality Modeling (J-STREAM. In Japan, SO42− is the major component of PM2.5, and CMAQ reproduces the observed seasonal variation of SO42− with the summer maxima and winter minima. However, CMAQ underestimates the concentration during winter over Japan. Based on a review of the current modeling system, we identified a possible reason as being the inadequate aqueous-phase SO42− production by Fe- and Mn-catalyzed O2 oxidation. This is because these trace metals are not properly included in the Asian emission inventories. Fe and Mn observations over Japan showed that the model concentrations based on the latest Japanese emission inventory were substantially underestimated. Thus, we conducted sensitivity simulations where the modeled Fe and Mn concentrations were adjusted to the observed levels, the Fe and Mn solubilities were increased, and the oxidation rate constant was revised. Adjusting the concentration increased the SO42− concentration during winter, as did increasing the solubilities and revising the rate constant to consider pH dependencies. Statistical analysis showed that these sensitivity simulations improved model performance. The approach adopted in this study can partly improve model performance in terms of the underestimation of SO42− concentration during winter. From our findings, we demonstrated the importance of developing and evaluating trace metal emission inventories in Asia.

  19. THE INFLUENCE OF PRODUCT QUALITY , PRICE PERCEPTION AND BRAND IMAGE ON SATISFACTION AND CUSTOMER LOYALTY HOLCIM CONCRETE READYMIX IN JAKARTA

    Directory of Open Access Journals (Sweden)

    Sita Budiastari

    2016-09-01

    Full Text Available The purpose of this research is to find a picture of the effect of product quality , price perception and brand image on satisfaction and customer loyalty ready mix concrete in Jakarta . This research is a quantitative study with descriptive and causal methods undertaken at Holcim Beton in 2013 with a sample of 100 customers in Jakarta and its surrounding the industrial and commercial segments project . Data collection by questionnaire respondents and analyzed using path analysis with SPSS version 20.0. The results of the study concluded that ( 1 product quality does not effect to customer satisfaction ( 2 Perception price positive and significant effect on customer satisfaction, ( 3 Brand Image does not have an influence on customer satisfaction, ( 4 all independent variables , quality of products , Perception price and a positive brand image and significant consequences for the dependent variable Customer satisfaction, with the value of determination of 50%, while 50% are influenced by other variables ( 5 Product Quality and significant effect on customer loyalty through customer satisfaction, ( 6 Perceived Price does not effect on loyalty through customer satisfaction, ( 7 brand image have effect and siginikan loyalty through customer satisfaction, ( 8 Dependent variable of product quality , price perception and brand image together and significant effect on customer loyalty through customer satisfaction, with value of determination of 77.4 %, and 22.6 % are influenced by other factors. The findings recommend that Holcim aims to improve product quality , perceived price and brand image to increase loyalty through customer satisfaction . It is also recommended to Holcim for increase of services and information to customers in order for increase customer satisfaction and loyalty.

  20. Record prices [crude oil

    International Nuclear Information System (INIS)

    Anon

    2006-01-01

    Crude oil prices climbed to new record levels on fears of a future loss of supplies from Iran as Washington stepped up its efforts to persuade Tehran to abandon its programme to produce nuclear fuel. IPE's December Brent contract set a new record for the exchange by trading at $75.80/bbl on 21st April. On the same day October WTI reached an all-time high of $77.30/bbl on Nymex. US product prices gained as refiners struggled to produce sufficient middle distillate. Alarmed by the rising retail price of gasoline, the US Senate debated a reduction in the already low US tax rate on motor spirit. The House of Representatives passed a measure to prohibit overcharging for petrol, diesel and heating oil, but Democrats rejected a Republican proposal to speed-up the process for approving new refineries. President George W Bush announced a temporary easing of new gasoline and diesel specifications (see 'Focus', March 2006) to allow more fuel to be produced. He also agreed to delay the repayment of some 2.1 mn bbl of crude oil lent to companies after last year's hurricanes from the Strategic Petroleum Reserve. California announced an inquiry into alleged overcharging for fuel by oil companies operating in the state. (author)

  1. Production of Al-Ti-B grain refining master alloys from Na2B4O7 and K2TiF6

    International Nuclear Information System (INIS)

    Birol, Yuecel

    2008-01-01

    It is very desirable to replace the KBF 4 salt in the popular 'halide salt' process to reduce the volume of fluoride salts to be added to molten aluminium in the production of Al-Ti-B grain refiners. Being over 2 times richer in B, Na 2 B 4 O 7 is a promising replacement for KBF 4 , and is used in the present work to produce Al-Ti-B grain refiner master alloys. A fraction of the aluminide particles were entrapped in the spent salt giving a relatively lower Ti recovery when KBF 4 was replaced by Na 2 B 4 O 7 . The grain refining performance of the Al-Ti-B grain refiner alloy thus produced was nevertheless acceptable. The spent salt became too viscous with the oxides, aluminides and borides to be removed by decanting when Na 2 B 4 O 7 .5H 2 O was used to supply boron. The viscous spent salt, entrained in the grain refiner alloy, did not only impair its performance, but also hurt the fluidity of the molten alloy and made pouring difficult

  2. THE EFFECT OF BRAND IMAGE, PRODUCT KNOWLEDGE AND PRODUCT QUALITY ON PURCHASE INTENTION OF NOTEBOOK WITH DISCOUNT PRICE AS MODERATING VARIABLE

    OpenAIRE

    Erida, Erida; Rangkuti, Ari Sonang

    2017-01-01

    The purpose of this study are: (1) explaining the effect of brand image, product knowledge and product quality toward purchase intention of Asus Notebook, and (2) explaining the discount price capability on moderating the effect of brand image, product knowledge and product quality toward purchase intention. Research is that through survey, where data collection is: obeservation, interview, and questioning delivery to 99 respondents. Research result shows that brand image, product knowledge a...

  3. Neighborhood Variation in the Price of Cheap Tobacco Products in California: Results From Healthy Stores for a Healthy Community.

    Science.gov (United States)

    Henriksen, Lisa; Andersen-Rodgers, Elizabeth; Zhang, Xueying; Roeseler, April; Sun, Dennis L; Johnson, Trent O; Schleicher, Nina C

    2017-11-01

    Retail marketing surveillance research highlights concerns about lower priced cigarettes in neighborhoods with a higher proportion of racial/ethnic minorities but focuses almost exclusively on premium brands. To remedy this gap in the literature, the current study examines neighborhood variation in prices for the cheapest cigarettes and a popular brand of cigarillos in a large statewide sample of licensed tobacco retailers in a low-tax state. All 61 local health departments in California trained data collectors to conduct observations in a census of eligible licensed tobacco retailers in randomly selected zip codes (n = 7393 stores, completion rate=91%). Data were collected in 2013, when California had a low and stagnant tobacco tax. Two prices were requested: the cheapest cigarette pack regardless of brand and a single, flavored Swisher Sweets cigarillo. Multilevel models (stores clustered in tracts) examined prices (before sales tax) as a function of neighborhood race/ethnicity and proportion of school-age youth (aged 5-17). Models adjusted for store type and median household income. Approximately 84% of stores sold cigarettes for less than $5 and a Swisher Sweets cigarillo was available for less than $1 in 74% of stores that sold the brand. The cheapest cigarettes cost even less in neighborhoods with a higher proportion of school-age residents and Asian/Pacific Islanders. Neighborhood disparities in the price of the cheapest combustible tobacco products are a public health threat. Policy changes that make all tobacco products, especially combustible products, less available and more costly may reduce disparities in their use and protect public health. Much of what is known about neighborhood variation in the price of combustible tobacco products focuses on premium brand cigarettes. The current study extends this literature in two ways, by studying prices for the cheapest cigarette pack regardless of brand and a popular brand of flavored cigarillos and by

  4. US refining reviewed

    International Nuclear Information System (INIS)

    Yamaguchi, N.D.

    1998-01-01

    The paper reviews the history, present position and future prospects of the petroleum industry in the USA. The main focus is on supply and demand, the high quality of the products, refinery capacity and product trade balances. Diagrams show historical trends in output, product demand, demand for transport fuels and oil, refinery capacity, refinery closures, and imports and exports. Some particularly salient points brought out were (i) production of US crude shows a marked downward trend but imports of crude will continue to increase, (ii) product demand will continue to grow even though the levels are already high, (iii) the demand is dominated by those products that typically yield the highest income for the refiner, (i.e. high quality transport fuels for environmental compliance), (iv) refinery capacity has decreased since 1980 and (v) refining will continue to have financial problems but will still be profitable. (UK)

  5. The relationship between innovation and price variation process innovations and product; La Relacion entre innovacion y variacion de los precios innovaciones de proceso y de producto

    Energy Technology Data Exchange (ETDEWEB)

    Gonzalez, X.; Miles-Touya, D.; Pazo, C.

    2012-07-01

    The aim of this study is to analyze the relationship between innovation and price changes, distinguishing between process and product innovations. The former directly affects production costs, the changes of which could be transferred to prices. The latter enables companies to differentiate their products vertically or horizontally and increases the consumers willingness to pay, which may lead companies to raise prices. The results show that firms that introduce product innovations are more likely to raise prices and firms that introduce process innovations are more likely to reduce them. The magnitudes of the effects are different. (Author)

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

    Energy Technology Data Exchange (ETDEWEB)

    Van Swigchem, J.; De Haan, F.

    2001-04-01

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

  7. A Canadian refiner's perspective of synthetic crudes

    International Nuclear Information System (INIS)

    Halford, T.L.; McIntosh, A.P.; Rasmussen

    1997-01-01

    Some of the factors affecting a refiner's choice of crude oil include refinery hardware, particularly gas oil crackers, products slate and product specifications, crude availability, relative crude price and crude quality. An overview of synthetic crude, the use of synthetic crude combined with other crudes and a comparison of synthetic crude with conventional crude oil was given. The two main users of synthetic crude are basically two groups of refiners, those large groups who use synthetic crude combined with other crudes, and a smaller group who run synthetic crude on specially designed units as a sole feed. The effects of changes in fuel legislation were reviewed. It was predicted that the changes will have a mixed impact on the value of synthetic crude, but low sulphur diesel regulations and gasoline sulphur regulations will make current synthetic crudes attractive. The big future change with a negative impact will be diesel cetane increases to reduce engine emissions. This will reduce synthetic crude attractiveness due to distillate yields and quality and high gas oil yields. Similarly, any legislation limiting aromatics in diesel fuel will also make synthetic crudes less attractive. Problems experienced by refiners with hardware dedicated to synthetic crude (salt, naphthenic acid, fouling, quality variations) were also reviewed. 3 tabs

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

    International Nuclear Information System (INIS)

    2007-03-01

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

  9. Market versus agriculture in Poland – macroeconomic relations of incomes, prices and productivity in terms of the sustainable development paradigm

    OpenAIRE

    CZYŻEWSKI, Bazyli; MAJCHRZAK, Adam

    2017-01-01

    In the article macroeconomic relations of prices, productivity and incomes in Polish agriculture in the context of changes in the EU Common Agricultural Policy were studied. The authors have developed a macroeconomic model which explains these relations and confirms the occurrence of market failures in agriculture in Poland. The developed model proves the existence of a puzzling exchangeable relation between the real productivity of production factors in agriculture, and agricultural incomes,...

  10. Commercial refining in the Mediterranean

    International Nuclear Information System (INIS)

    Packer, P.

    1999-01-01

    About 9% of the world's oil refining capacity is on the Mediterranean: some of the world's biggest and most advanced refineries are on Sicily and Sardinia. The Mediterranean refineries are important suppliers to southern Europe and N. Africa. The article discusses commercial refining in the Mediterranean under the headings of (i) historic development, (ii) product demand, (iii) refinery configurations, (iv) refined product trade, (v) financial performance and (vi) future outlook. Although some difficulties are foreseen, refining in the Mediterranean is likely to continue to be important well into the 21st century. (UK)

  11. A comprehensive examination of own- and cross-price elasticities of tobacco and nicotine replacement products in the U.S.

    Science.gov (United States)

    Huang, Jidong; Gwarnicki, Cezary; Xu, Xin; Caraballo, Ralph S; Wada, Roy; Chaloupka, Frank J

    2018-04-21

    While much is known about the demand for cigarettes, research on the demand for non-cigarette tobacco products and the cross-price impacts among those products is limited. This study aims to comprehensively examine the own- and cross-price elasticities of demand for tobacco and nicotine replacement products (NRPs) in the U.S. We analyzed market-level quarterly data on sales and prices of 15 different types of tobacco products and NRPs from 2007 to 2014, compiled from retail store scanner data. Fixed effects models with controls were used to estimate their own-price elasticities and cross-price elasticities between cigarettes and the other 14 products. Our results show that, except for cigars, the demand for combustible tobacco products was generally elastic, with the estimated own-price elasticity >1 (10% increase in prices reduces sales by >10%). The own-price elasticities for smokeless tobacco products were smaller than those for combustible tobacco, although not always significant. The demand for electronic cigarettes and NRPs was found to be elastic. The cross-price elasticities with respect to cigarettes were positive for cigarillos, little cigars, loose tobacco, pipe tobacco, electronic cigarettes and NRPs, but only results for little cigars, loose tobacco, pipe tobacco, and dissolvable lozenges were consistently significant. Our findings suggest demand for tobacco products and NRPs was responsive to changes in their own prices. Substitutions or positive cross-price impacts between cigarettes and certain other products exist. It is important that tobacco control policies take into account both own- and cross-price impacts among tobacco products and NRTs. Copyright © 2018 Elsevier Inc. All rights reserved.

  12. Sellers’ Pricing Policy in Spatial Competition Models (a case study of the Russian rolled product market

    Directory of Open Access Journals (Sweden)

    Torbenko A. M.

    2011-12-01

    Full Text Available The article views competition in the rolled section market. The hypotheses about price discrimination, competition according to Cournot or Hotelling being present at this market, have been tested. The dependence of rolled section prices in the region on the distance between the region and rolled section producers’ location, as well as on other factors, has been tested. It is concluded that the Russian rolled section market is characterized by Hotelling competition without using price discrimination

  13. The use of the isotopic composition of individual compounds for correlating spilled oils and refined products in the environment with suspected sources

    International Nuclear Information System (INIS)

    Philp, R.P.; Allen, J.; Kuder, T.

    2002-01-01

    Gas chromatography (GC) and gas chromatography/mass spectrometry (CGMS) are two methods generally used to correlate crude oils and refined products found in the environment with their suspected pollution sources. In certain cases, this can be done with bulk carbon isotope compositions, but with crude condensates, or refined products, the lack of biomarkers prohibits the successful use for making unique correlations. Such products can be correlated using an alternative method which makes use of combined gas chromatography-isotope ratio and mass spectrometry (GCIRMS). This method makes it possible to determine the carbon and hydrogen isotopic composition of individual compounds in crude oil, thus producing isotopic fingerprints that could be used in correlation studies. The feasibility of using of GCIRMS to correlate various spilled products in different environments was the main focus of this study. The authors are not proposing that this method will replace GC or GCMS, but are suggesting that it is a powerful tool that could be used in conjunction with the early methods. Carbon and hydrogen isotopic fractionation has been reported for light components such as benzene and toluene. Higher carbon numbered compounds do not seem to undergo major carbon isotopic fractionation as a result of weathering. Hydrogen variations are currently undergoing investigation for compounds with a carbon number greater than C10. Also, isotopic fractionation for refined products has the potential to attenuate naturally. 33 refs., 6 figs

  14. Freemium Pricing

    DEFF Research Database (Denmark)

    Runge, Julian; Wagner, Stefan; Claussen, Jörg

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

  15. Energy tax price tag for CPI: $1.2 billion, jobs, and production

    International Nuclear Information System (INIS)

    Begley, R.

    1993-01-01

    If President Clinton's proposed energy tax had been fully in place last year, it would have cost the US chemical industry an additional $1.2 billion and 9,900 jobs, according to Chemical Manufacturers Association (CMA; Washington) estimates. It also would have driven output down 3% and prices up 5%, CMA says. Allen Lenz, CMA director/trade and economics, says the increase in production costs that would accompany the tax will not be shared by foreign competitors, cannot be neutralized with higher border taxes because of existing trade agreements, and provides another reason to move production offshore. Worse, the US chemical industry's generally impressive trade surplus declined by $2.5 billion last year, and a further drop is projected for this year. The margin of error gets thinner all the time as competition increases, Lenz says. We're not concerned only with the chemical industry, but the rest of US-based manufacturing because they taken half our output, he adds. One problem is the energy intensiveness of the chemical process industries-a CMA report says that 55% of the cost of producing ethylene glycol is energy related. And double taxation of such things as coproducts returned for credit to oil refineries could add up to $115 million/year, the report says

  16. A multi-product green supply chain under government supervision with price and demand uncertainty

    Science.gov (United States)

    Hafezalkotob, Ashkan; Zamani, Soma

    2018-05-01

    In this paper, a bi-level game-theoretic model is proposed to investigate the effects of governmental financial intervention on green supply chain. This problem is formulated as a bi-level program for a green supply chain that produces various products with different environmental pollution levels. The problem is also regard uncertainties in market demand and sale price of raw materials and products. The model is further transformed into a single-level nonlinear programming problem by replacing the lower-level optimization problem with its Karush-Kuhn-Tucker optimality conditions. Genetic algorithm is applied as a solution methodology to solve nonlinear programming model. Finally, to investigate the validity of the proposed method, the computational results obtained through genetic algorithm are compared with global optimal solution attained by enumerative method. Analytical results indicate that the proposed GA offers better solutions in large size problems. Also, we conclude that financial intervention by government consists of green taxation and subsidization is an effective method to stabilize green supply chain members' performance.

  17. THE EFFECT OF PRODUCTS, PRICE AND SERVICE QUALITY ON CUSTOMER SATISFACTION IN “RICE FOR THE POORS” PROGRAM

    Directory of Open Access Journals (Sweden)

    Surip N.

    2017-12-01

    Full Text Available This study aimed to determine and analyze the partial influence of product variables, price and service quality on consumer satisfaction in Indonesian government’s “Rice for the Poors” (“Beras Miskin”, abbreviated as “Raskin” program, as well as the influence of product variable, price and service quality simultaneously to customer satisfaction in the program. The sampling method used is proportionate stratified random sampling. The research is conducted in West Bandung regency, Jawa Barat (West Java Province with a population of 86.908 RTS-PM, and data collection was conducted on October 2015. The method of analysis used in this research is the analysis of correlation and linear regression. The results of the study conclude that the variable of product, price and quality of service simultaneously or partially possess positive and significant effect on consumer satisfaction in Raskin program. The service quality is one of the strong variables that influence the consumer satisfaction, followed by price and product variables.

  18. Asian oil refining. Demand growth and deregulation - an uncertain future

    International Nuclear Information System (INIS)

    Sameer Nawaz.

    1996-01-01

    The objective of the report is to identify the most important features of the oil refining industry in Asia. Major developments in consumption patterns changes in regional importance of countries are discussed, highlighting potential future developments. The first chapter introduces the various refining processes and presents a simple model for the analysis of complex refineries. Chapter 2 examines the development of the Asian refining industry against a background of economic growth and analyses trends in consumption of all products in Asian countries. In Chapter 3, the key issues concerning the refining industry are examined, among them the forces driving consumption, including the importance of economic development, and electricity and transport demand. The importance of product imports and international trade is discussed, and the extent of government involvement and the effects of changing retail and market prices are analysed. Chapter 4 looks at the strategies that oil and gas companies are following in the Asian refining industry. Particular significance is attached to the vertical integration of the oil majors, Japanese and Middle Eastern oil companies. A brief overview of the importance of the petrochemical industry is presented. The countries of Asia that are involved in the refining industry are profiled in Chapter 5. The future trend in oil consumption is examined in Chapter 6. There follows a brief discussion of the plans to expand crude refining capacity in the various countries and a forecast of the state of overcapacity which will result. In the final chapter, brief profiles of some of the most important companies in the Asian refining industry are presented, discussing their major activities and future plans. (Author)

  19. The joint products of the cocoa industry and the soaring powder prices

    NARCIS (Netherlands)

    Burger, C.P.J.

    2012-01-01

    We derive the case for a straight line connecting combinations of cocoa powder, paste and butter prices, we work out a mathematical model to explain this, and show it to apply empirically using graphs of recnt price changes. We tentatively try to explain the position on the line, but find no clear

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

    Science.gov (United States)

    Stange, Kevin

    2015-01-01

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

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

    Science.gov (United States)

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

    2012-01-01

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

  2. View from the market : the refiners' perspective

    International Nuclear Information System (INIS)

    Earnest, N.K.

    2003-01-01

    The western Canadian crude market area is vast, ranging from Puget Sound to Oklahoma to western Pennsylvania. The three main challenges facing western Canadian crude oil producers are high crude production volumes of heavy sour grades, strong competition for market share from the United States and offshore crudes, and the inability to access offshore global crude markets in meaningful volumes. The paper includes a map depicting core markets which have historically processed most of the crude produced in western Canada. The map also includes extended market areas where western Canadian crude sales are expected to increase as production increases. These regions will become the price setting areas for Canadian crude. Currently more than 40 per cent of the total crude produced in western Canada flows into the upper Midwest market. This paper summarized Canadian crude pricing mechanisms, noting that more than half of the oil consumed in North America is imported, linking North America with the pricing dynamics and supply/demand considerations of the global crude markets. The two key points that have to be considered in the Canadian crude pricing mechanisms is the economics of refining and parity point location. Crude grades such as light sweet or medium sour, are priced relative to one another depending on their differing values as a feedstock. The greatest determinant of relative crude grade value is the proportion produced of high value, light transportation fuels compared to low value, heavy products such as asphalt and heavy fuel oil. The value of crude oil is also influenced by the level of sulphur and metal content. A section of the paper was devoted to the pricing of heavy sour conventional and bitumen blend crudes, which is different than for lighter crude grades because of the near lack of competition from similar imported crude grades. A market optimization model used to analyze the future price relationships for Canadian crudes showed that the Canadian crude

  3. Price estimation and economic evaluation of the production cost of red wines produced by immobilized cells on dried raisin berries

    Directory of Open Access Journals (Sweden)

    Argiris Tsakiris

    2011-02-01

    Full Text Available Argiris Tsakiris1, Kiriaki Sotirakoglou2, Panagiotis Kandylis3, Panagiotis Kaldis1, Constantina Tzia4, Yiannis Kourkoutas31Department of Oenology and Beverage Technology, Faculty of Food Technology and Nutrition, Technological Educational Institute of Athens, Athens, Greece; 2Department of Mathematics and Statistics, Agricultural University of Athens, Athens, Greece; 3Applied Microbiology and Molecular Biotechnology Research Group, Department of Molecular Biology and Genetics, Democritus University of Thrace, Alexandroupolis, Greece; 4Laboratory of Food Chemistry and Technology, School of Chemical Engineering, National Technical University of Athens, Athens, GreeceAbstract: The aim of the study was initially to estimate the price of red wines produced by immobilized cells on dried raisin berries and subsequently to investigate whether the estimated price was sufficient to counterbalance the increased investment and operational costs required for industrial application of the novel biotechnological process. Price estimation of the experimental wines was based on the correlation of sensory quality, determined by a group of trained tasters, and the price of commercial wines available in a certain market. Application of principal component analysis (PCA provided improved results over simple and exponential regression analysis, as only a part of the relationship between the two variables was represented (68.4% and 75.3%, respectively. However, with PCA the total variance explained by the two components was 100%. Taste was more important than aroma in determining sensory quality, and wine price was mainly affected by sensory quality rather than wine age in the Greek market. The total increase of production cost was estimated to be €0.032/bottle, which is significantly lower than the increase of €2.08/bottle price estimated by PCA for the red wines produced by immobilized cells, due to the improved aromatic potential compared with wines produced by

  4. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

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

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

  5. A monopoly pricing model for diffusion maximization based on heterogeneous nodes and negative network externalities (Case study: A novel product

    Directory of Open Access Journals (Sweden)

    Aghdas Badiee

    2018-10-01

    Full Text Available Social networks can provide sellers across the world with invaluable information about the structure of possible influences among different members of a network, whether positive or negative, and can be used to maximize diffusion in the network. Here, a novel mathematical monopoly product pricing model is introduced for maximization of market share in noncompetitive environment. In the proposed model, a customer’s decision to buy a product is not only based on the price, quality and need time for the product but also on the positive and negative influences of his/her neighbors. Therefore, customers are considered heterogeneous and a referral bonus is granted to every customer whose neighbors also buy the product. Here, the degree of influence is directly related to the intensity of the customers’ relationships. Finally, using the proposed model for a real case study, the optimal policy for product sales that is the ratio of product sale price in comparison with its cost and also the optimal amounts of referral bonus per customer is achieved.

  6. Measuring Product Prices under Conditions of Quality Change: The Case of Passenger Cars in Greece.

    OpenAIRE

    Bitros, George C; Panas, Epaminondas E

    1988-01-01

    The envelope curve of the bid functions for car characteristics in Greece is used to analyze the relationship between nominal and quality-adjusted car prices for 1965-85. It is estimated using the Box-Cox flexible functional form technique in a modification of S. Rosen's hedonic price model. The authors find that quality-adjusted prices of imports from West Germany, France, Italy, and Japan decline d from 1965 to 1970 and increased continuously thereafter; the quality of cars from France, Ita...

  7. Price dynamics of crude oil and the regional ethylene markets

    International Nuclear Information System (INIS)

    Masih, Mansur; Algahtani, Ibrahim; De Mello, Lurion

    2010-01-01

    This paper is the first attempt to investigate: (1) is the crude oil (WTI) price significantly related to the regional ethylene prices in the Naphtha intensive ethylene markets of the Far East, North West Europe, and the Mediterranean? (2) What drives the regional ethylene prices? The paper is motivated by the recent and growing debate on the lead-lag relationship between crude oil and ethylene prices. Our findings, based on the long-run structural modelling approach of Pesaran and Shin, and subject to the limitations of the study, tend to suggest: (1) crude oil (WTI) price is cointegrated with the regional ethylene prices (2) our within-sample error-correction model results tend to indicate that although the ethylene prices in North West Europe and the Mediterranean were weakly endogenous, the Far East ethylene price was weakly exogenous both in the short and long term. These results are consistent, during most of the period under review (2000.1-2006.4) with the surge in demand for ethylene throughout the Far East, particularly in China and South Korea. However, during the post-sample forecast period as evidenced in our variance decompositions analysis, the emergence of WTI as a leading player as well, is consistent with the recent surge in WTI price (fuelled mainly, among others, by the strong hedging activities in the WTI futures/options and refining tightness) reflecting the growing importance of input cost in determining the dynamic interactions of input and product prices. (author)

  8. Economic forces push down selling prices of U.S. refineries

    International Nuclear Information System (INIS)

    Anon.

    1996-01-01

    Recent data on US refinery sales reveal that selling prices have continued to decline in the 1990s. Reasons for this decrease include increased plant investments to meet regulatory requirements, excess refining capacity, increased imports of refined products, and reduced margins. While these expenditures enable a refinery to continue operating, they do not make the refinery more profitable or valuable. Other factors contributing to reduced selling prices of US refineries are: declining local crude production; unstable crude costs; increased energy conservation; growing competition from alternative fuels

  9. World oil demand's shift toward faster growing and less price-responsive products and regions

    Energy Technology Data Exchange (ETDEWEB)

    Dargay, Joyce M. [Institute for Transport Studies, University of Leeds, Leeds LS2 9JT (United Kingdom); Gately, Dermot [Dept. of Economics, New York University, 19W. 4 St., New York, NY 10012 (United States)

    2010-10-15

    Using data for 1971-2008, we estimate the effects of changes in price and income on world oil demand, disaggregated by product - transport oil, fuel oil (residual and heating oil), and other oil - for six groups of countries. Most of the demand reductions since 1973-74 were due to fuel-switching away from fuel oil, especially in the OECD; in addition, the collapse of the Former Soviet Union (FSU) reduced their oil consumption substantially. Demand for transport and other oil was much less price-responsive, and has grown almost as rapidly as income, especially outside the OECD and FSU. World oil demand has shifted toward products and regions that are faster growing and less price-responsive. In contrast to projections to 2030 of declining per-capita demand for the world as a whole - by the U.S. Department of Energy (DOE), International Energy Agency (IEA) and OPEC - we project modest growth. Our projections for total world demand in 2030 are at least 20% higher than projections by those three institutions, using similar assumptions about income growth and oil prices, because we project rest-of-world growth that is consistent with historical patterns, in contrast to the dramatic slowdowns which they project. (author)

  10. Steel: Price and Policy Issues

    National Research Council Canada - National Science Library

    Cooney, Stephen

    2006-01-01

    Steel prices remain at historically elevated levels. The rapid growth of steel production and demand in China is widely considered as a major cause of the increases in both steel prices and the prices of steelmaking inputs...

  11. 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...

  12. Impact of Prices and Taxes on Tobacco Product Use in Argentina ...

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

    New research will explore the benefits and limitations of tobacco pricing and tax strategies on reducing tobacco use ... From “gender as usual” to “gender as transformative” ... IDRC invites applications for the IDRC Doctoral Research Awards.

  13. Breakeven prices for recording of indicator traits to reduce the environmental impact of milk production

    DEFF Research Database (Denmark)

    Axelsson, Helen Hansen; Thomasen, Jørn Rind; Sørensen, Anders Christian

    2015-01-01

    A breeding scheme using genomic selection and an indicator trait for environmental impact (EI) was studied to find the most effective recording strategy in terms of annual monetary genetic gain and breakeven price for the recording of indicator traits. The breakeven price shows the investment space......) or small scale (residual feed intake and total enteric methane measured in a respiration chamber). In the scenario with stayability, the genetic gain in EI was over 11% higher than it was in NoIT. The breakeven price of recording stayability was €8 per record. Stayability is easy to record in the national...... of the cow was used as indicator trait. The breakeven price for this indicator trait was €29 per record in the reference population. Ideally the recording of a specific indicator trait for EI would take place when: (i) the genetic correlation between the IT and EI is high; and (ii) the number of phenotypic...

  14. Southeast Asian oil markets and refining

    Energy Technology Data Exchange (ETDEWEB)

    Yamaguchi, N.D. [FACTS, Inc., Honolulu, Hawaii (United States)

    1999-09-01

    An overview of the Southeast Asian oil markets and refining is presented concentrating on Brunei, Malaysia, the Philippines, Singapore and Thailand refiners. Key statistics of the refiners in this region are tabulated. The demand and the quality of Indonesian, Malaysian, Philippine, Singapore and Thai petroleum products are analysed. Crude distillation unit capacity trends in the Southeastern Asian refining industry are discussed along with cracking to distillation ratios, refining in these countries, and the impact of changes in demand and refining on the product trade.

  15. Southeast Asian oil markets and refining

    International Nuclear Information System (INIS)

    Yamaguchi, N.D.

    1999-01-01

    An overview of the Southeast Asian oil markets and refining is presented concentrating on Brunei, Malaysia, the Philippines, Singapore and Thailand refiners. Key statistics of the refiners in this region are tabulated. The demand and the quality of Indonesian, Malaysian, Philippine, Singapore and Thai petroleum products are analysed. Crude distillation unit capacity trends in the Southeastern Asian refining industry are discussed along with cracking to distillation ratios, refining in these countries, and the impact of changes in demand and refining on the product trade

  16. 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...

  17. The Impact of Intermittent Renewable Production and Market Coupling on the Convergence of French and German Electricity Prices

    International Nuclear Information System (INIS)

    Keppler, Jan Horst; Le Pen, Yannick; Phan, Sebastien; Boureau, Charlotte

    2014-10-01

    Interconnecting two adjacent areas of electricity production generates benefits in combined consumer surplus and welfare by allowing electricity to flow from the low cost area to the high cost area. It will lower prices in the high cost area, raise them in the low cost area and will thus have prices in the two areas converge. With unconstrained interconnection capacity, price convergence is, of course, complete and the two areas are merged into a single area. With constrained interconnection capacity, the challenge for transport system operators (TSOs) and market operators is using the available capacity in an optimal manner. This was the logic behind the 'market coupling' mechanism installed by European power market operators in November 2009 in the Central Western Europe (CWE) electricity market, of which France and Germany constitute by far the two largest members. Market coupling aims at optimising welfare by ensuring that buyers and sellers exchange electricity at the best possible price taking into account the combined order books all power exchanges involved as well as the available transfer capacities between different bidding zones. By doing so, interconnection capacity is allocated to those who value it most. As predicted by theory and common sense, electricity prices in France and Germany converged substantially in 2010 and 2011 in the wake of market coupling with substantive increases of consumer surplus. These benefits accrued in both areas. In first approximation, France exports base-load power, while Germany exports peak-load power, thus exporting and importing at different times of the day. However since 2012, electricity prices between France and Germany diverged, a process that accelerated during 2013. The hypothesis this paper is exploring is that this divergence is due to the significant production of variable renewables (wind and solar PV) in Germany, which tends to cluster during certain hours. Typically, solar production around noontime

  18. Examining the Effect of World Price Transfer to Domestic Markets for Sensitive and Certain Agricultural Products in Iran

    Directory of Open Access Journals (Sweden)

    M. shabanzadeh

    2016-03-01

    Full Text Available Introduction: Agriculture as one of old sectors of economy has been important role in the supply food for peoples and raw materials. Globalization causes rapid growth of world trade and reduces information and communications costs. Globalization and rapid growth of trade increases the potential benefits of trade for agriculture from various aspects. The potential benefits of trade for agriculture increases from three aspects. Direct increase in the domain of agricultural sector activities for competition in the global market results in the benefits of access to global markets. This is especially true in cases where there is comparative advantage and the indirect effects of increased global trade on non-agricultural sectors that cause the domestic demand for food change from qualitative and quantitative aspects, are the benefits of this event. However, during the process of globalization, how to influence prices in different markets, including the impact of world prices on domestic prices is an important issue in trade policy analysis. During this process domestic prices are directly related to world prices. With this approach, the main objective of this study is to examine the effect of world price transfers to domestic markets for sensitive and certain agricultural products in Iran during 1360-91. Materials and Methods: To achieve this goal in this study, the Armington and the foreign currency elasticity of ten selected agricultural products in Iran including wheat, barley, rice, corn, soybean meal, vegetable oil (soybean and sunflower, sugar, eggs, poultry and beef, have been estimated and examined using Autoregressive Distribution lag Model (ARDL. In order to investigate speed of adjustment or in other words the speed of movement towards equilibrium, typically the error correction model (ECM is used. Existence of cointegration or in other words, long term relationship between a set of economic variables provide the basis for the use of error

  19. Market risks and oilfield ownership - Refining oil and gas disclosures

    International Nuclear Information System (INIS)

    Kretzschmar, Gavin L.; Hatherly, David; Misund, Bard

    2007-01-01

    Market risk exposures of balance sheet asset values are becoming an increasingly important accounting issue. In oil and gas, oilfield exposures to oil prices are specific and contractual, presenting a contingency problem for investors, financial analysts, standard setting bodies and government agencies. Our paper uses an extensive sample of 292 oilfields to provide evidence that the US Securities and Exchange Commission (SEC) supplementary disclosures do not capture the price sensitivities of oil and gas disclosures implicit in the two main forms of oilfield ownership, concession and production sharing contracts (PSCs). Current asset disclosures neither distinguish between global variations in oilfield ownership terms, nor on market risk implications for the value of oilfield assets. Importantly, we show that unlike concessions, reserve and production disclosures vary in response to oil price movements for PSC regimes. Our results highlight the need to differentiate PSC disclosures from concession fields, and to fully reflect price risks implicit in oilfield ownership contracts. We extend findings by Rajgopal [1999. Early evidence on the informativeness of the SEC's market risk disclosures: the case of commodity price risk exposure of oil and gas producers. The Accounting Review 74, 251-280] and propose refinements to capture market risk in financial reporting. (author)

  20. Acquisition Pricing and Inventory Decisions on Dual-Source Spare-Part System with Final Production and Remanufacturing

    Directory of Open Access Journals (Sweden)

    Yancong Zhou

    2016-01-01

    Full Text Available The life spans of durable goods are longer than their warranty periods. To satisfy the service demand of spare parts and keep the market competition advantage, enterprises have to maintain the longer inventory planning of spare parts. However, how to obtain a valid number of spare parts is difficult for those enterprises. In this paper, we consider a spare-part inventory problem, where the inventory can be replenished by two ways including the final production order and the remanufacturing way. Especially for the remanufacturing way, we consider the acquisition management problem of used products concerning an acquisition pricing decision. In a multiperiod setting, we formulate the problem into a dynamic optimization problem, where the system decisions include the final production order and acquisition price of used products at each period. By stochastic dynamic programming, we obtain the optimal policy of the acquisition pricing at each period and give the optimal policy structure of the optimization problem at the first period. Then, a recursion algorithm is designed to calculate the optimal decisions and the critical points in the policy. Finally, the numerical analyses show the effects of demand information and customer’s sensitive degree on the related decisions and the optimal cost.

  1. Implications of globalization on pricing for Canadian crudes

    Energy Technology Data Exchange (ETDEWEB)

    Black, R. [Canadian Occidental Petroleum Ltd., Calgary, AB (Canada)

    1998-05-01

    The effects of globalization on Canadian crude oil prices was discussed. Since deregulation in October 1985, Canadian crude oil has competed directly against international crude oil through the use of the NYMEX contract price for light sweet crude oil as the base for establishing the price for Canadian crudes. Prior to that date, Alberta crude was marketed by the Alberta Petroleum Marketing Commission using the old block matrix which was loosely tied to the world market price. In addition to world crude oil prices other factors that affect the price of Canadian crude oil include technology impacts and global integration. Also, when the Sarnia to Montreal pipeline (Line 9) is reversed to bring offshore crude oil into the Ontario refining community, Canadian producers can expect some adverse effects on the price they are paid for their products leading up to the reversal as refiners start to swing over to their alternate suppliers. The offshore supply is expected to be about 140,000 barrels/day of light sweet crude oil, but all grades of Canadian crude oil will be affected.

  2. 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.

  3. Latin American oil markets and refining

    International Nuclear Information System (INIS)

    Yamaguchi, N.D.; Obadia, C.

    1999-01-01

    This paper provides an overview of the oil markets and refining in Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru and Venezuela, and examines the production of crude oil in these countries. Details are given of Latin American refiners highlighting trends in crude distillation unit capacity, cracking to distillation ratios, and refining in the different countries. Latin American oil trade is discussed, and charts are presented illustrating crude production, oil consumption, crude refining capacity, cracking to distillation ratios, and oil imports and exports

  4. Production Decision Based on Discounted Price and Delivery Frequency for Garment Original Equipment Manufacturer with Constrained Capacity

    Institute of Scientific and Technical Information of China (English)

    HUO Yanfang; GU Yajie; HAN Lin; WANG Xize

    2017-01-01

    Original equipment manufacturers (OEM) have never been so important and powerful as it is today in garment manufacturing industry.The OEM supplier's production decisions always have a great impact on the market performance and the profits of a garment brand manufacturer.With constrained capacity and multiply buyers,how to make reasonable production decisions is an urgent problem for OEM suppliers.A price discount model with a single OEM supplier and two buyers is proposed to deal with the problem.Based on this model,the OEM supplier could satisfy buyers' demands and guarantee their profits as well through adjusting price and delivery frequency.A numerical example validates the validity of the model.

  5. Panorama 2012 - Refining 2030

    International Nuclear Information System (INIS)

    Marion, Pierre; Saint-Antonin, Valerie

    2011-11-01

    The major uncertainty characterizing the global energy landscape impacts particularly on transport, which remains the virtually-exclusive bastion of the oil industry. The industry must therefore respond to increasing demand for mobility against a background marked by the emergence of alternatives to oil-based fuels and the need to reduce emissions of pollutants and greenhouse gases (GHG). It is in this context that the 'Refining 2030' study conducted by IFP Energies Nouvelles (IFPEN) forecasts what the global supply and demand balance for oil products could be, and highlights the type and geographical location of the refinery investment required. Our study shows that the bulk of the refining investment will be concentrated in the emerging countries (mainly those in Asia), whilst the areas historically strong in refining (Europe and North America) face reductions in capacity. In this context, the drastic reduction in the sulphur specification of bunker oil emerges as a structural issue for European refining, in the same way as increasingly restrictive regulation of refinery CO 2 emissions (quotas/taxation) and the persistent imbalance between gasoline and diesel fuels. (authors)

  6. Future of French refining

    International Nuclear Information System (INIS)

    Calvet, B.

    1993-01-01

    Over recent years, the refining industry has had to grapple with a growing burden of environmental and safety regulations concerning not only its plants and other facilities, but also its end products. At the same time, it has had to bear the effects of the reduction of the special status that used to apply to petroleum, and the consequences of economic freedom, to which we should add, as specifically concerns the French market, the impact of energy policy and the pro-nuclear option. The result is a drop in heavy fuel oil from 36 million tonnes per year in 1973 to 6.3 million in 1992, and in home-heating fuel from 37 to 18 million per year. This fast-moving market is highly competitive. The French market in particular is wide open to imports, but the refining companies are still heavy exporters for those products with high added-value, like lubricants, jet fuel, and lead-free gasolines. The competition has led the refining companies to commit themselves to quality, and to publicize their efforts in this direction. This is why the long-term perspectives for petroleum fuels are still wide open. This is supported by the probable expectation that the goal of economic efficiency is likely to soften the effects of the energy policy, which penalizes petroleum products, in that they have now become competitive again. In the European context, with the challenge of environmental protection and the decline in heavy fuel outlets, French refining has to keep on improving the quality of its products and plants, which means major investments. The industry absolutely must return to a more normal level of profitability, in order to sustain this financial effort, and generate the prosperity of its high-performance plants and equipment. 1 fig., 5 tabs

  7. Influence of Product Quality, Brand Image and Price Concerning Automobile Buying Decision of Toyota Avanza at PT. Nasmoco Majapahit Semarang

    OpenAIRE

    Putra, Arya Willis Nugraha; Waluyo, Handoyo Djoko; Nugraha, Hari Susanta

    2015-01-01

    This research was based on rapid automotive sector business development, especially automobile. Specifically, this research was discuss about automobile buying of Toyota Avanza brand at PT Nasmoco Majapahit Semarang during 2011 - 2014 keep have sale descending and it's sale target. If that case wasn't improve and solve, probably will presence problem for PT. Nasmoco Majapahit Semarang next.Aim of this research was to found product quality, brand image and price concerning automobile buying de...

  8. THE INFLUENCE OF PRODUCT QUALITY , PRICE PERCEPTION AND BRAND IMAGE ON SATISFACTION AND CUSTOMER LOYALTY HOLCIM CONCRETE READYMIX IN JAKARTA

    OpenAIRE

    Sita Budiastari

    2016-01-01

    The purpose of this research is to find a picture of the effect of product quality , price perception and brand image on satisfaction and customer loyalty ready mix concrete in Jakarta . This research is a quantitative study with descriptive and causal methods undertaken at Holcim Beton in 2013 with a sample of 100 customers in Jakarta and its surrounding the industrial and commercial segments project . Data collection by questionnaire respondents and analyzed using path analysis with SPSS ve...

  9. Break-even price for upstream activities in Brazil: Evaluation of the opportunity cost of oil production delay in a non-mature sedimentary production region

    International Nuclear Information System (INIS)

    Szklo, Alexandre Salem; Machado, Giovani; Carneiro, Jason Thomas Guerreiro

    2008-01-01

    Some Latin American policy-makers and analysts state that it would be better to hold oil reserves in place than to produce and cash it now, given the recent oil prices spikes and the fear related to future oil supply disruptions. This article evaluates the strategy of delaying the start-up of oil production in a discovered field with proved reserves. A Reference Discounted Cash Flow (FCD-R) for a typical 350 million barrel Brazilian oil field was simulated. The study estimated which future oil price may render the project insensitive to a delay of 5, 10, 15 or 20 years in its production beginning. Additionally, the value of the in situ oil stock was calculated, providing the opportunity cost for delaying oil production in a frontier area, such as Brazil. It is an application of the Hotelling Principle. Findings indicate that progressive delays of 5 years in the start-up of operation of a typical oil field reduce its revenues by a factor of 2. A delay of 10 years would be justifiable at international oil prices higher than US $15/bbl. Delays higher than 10 years lead this break-even price to values between US $200 and 350/bbl. (author)

  10. Refining oils

    Energy Technology Data Exchange (ETDEWEB)

    Dunstan, A E

    1921-05-12

    The desulfurization of liquid hydrocarbons, such as kerosene, ligroin, or shale oil, by treatment with alkaline hypochlorite, such as sodium hypochlorite with free alkali is preceded, followed or both preceded and followed by treatment with alkali. The treatment may be effected in a vessel in which brine is being electrolyzed for the production of sodium hypochlorite, and the temperature may be raised to say 120/sup 0/F. The product may be filtered through animal charcoal, fuller's earth, dehydrated alumina, or other adsorbent substance.

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

    Science.gov (United States)

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

    2011-06-01

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

  12. Export pricing objectives and factors influencing them

    OpenAIRE

    Snieškienė, Gabrielė; Pridotkienė, Jūratė

    2010-01-01

    Pricing is recognized as one of the most important tools to achieve a successful export operation. The starting point in every pricing effort is the process of creating pricing objectives. Pricing objectives are the strategic and economic goals desired by management in pricing the product. Pricing objectives constitute the basis on which pricing methods and policies are formulated. Therefore, a better understanding of the pricing objectives should direct the company’s overall pricing process....

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

    Directory of Open Access Journals (Sweden)

    Jha P.C.

    2015-01-01

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

  14. Social cost pricing of fossil fuels used in the production of electricity: implications to biomass feasibility

    International Nuclear Information System (INIS)

    Dillivan, K.D.; English, B.C.

    1997-01-01

    The primary objective of this study is to investigate full social pricing for fossil fuels and the subsequent effect on biomass quantities in the state of Tennessee. The first step is to estimate the full social costs and then to estimate the effects of their internalization. Other objectives are (1) investigate whether or not market imperfections exist, (2) if they exist, how should full social cost pricing be estimated, (3) what other barriers help fossil fuels stay economically attractive and prevent biomass from competing, (4) estimating the demand for biomass, and (5) given this demand for biomass, what are the implications for farmers and producers in Tennessee. (author)

  15. Russian oil prices: courting the world market

    International Nuclear Information System (INIS)

    Khartukov, E.M.

    1995-01-01

    The export and oil pricing of Russian crude was discussed. Russian crude and oil product exports are not yet wholly competitive with world oil markets. It was suggested that to do so, would be neither desirable nor actually possible at present. The reason for this is related to Russia's export duties regime and Russia's trade with its neighbouring countries which include the former Soviet republics. In the first half of 1995, the average border price of crude destined for those countries was US$75.04/tonne as opposed to US$114.77/tonne for crude exported to 'far-abroad', hard-currency markets. A breakdown of Russia's export duties for liquid fuels and a typical breakdown of export and domestic prices for Russian oil was provided. Russian crude is considerably under-priced mainly because of the poor state of the national refining industry which is in need of radical modernization. It was suggested that instead of globalization, it would be more appropriate to redirect the priorities of Russian energy policy towards defining optimal use of Russia's available energy potential, and rationalizing its domestic price structure first, which is the root cause of the national price problem. 5 refs., 5 tabs., 2 figs

  16. 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.

  17. Value based pricing: the least valued pricing strategy

    OpenAIRE

    Hoenen, Bob

    2017-01-01

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

  18. Innovation in technology for the least product price and cost - a new minimum cost relation for reductions during technological learning

    International Nuclear Information System (INIS)

    Duffey, R.B.

    2004-01-01

    By analogy with the concepts of human learning, we show and introduce a new method to obtain least product cost and price that includes the effect of innovation and technological learning in manufacturing and production. This key result is a new paradigm instead of the usual economic 'power law' formulation. The new analysis is based on extensive analysis of many technological systems, and is directly related to the presence of learning as experience is accumulated. The results agree with the observed data. By using a consistent basis, the method replaces previous empirical 'power law' descriptions of the technological learning curve with a new 'marginal minimum cost equation' (MCE). (author)

  19. Exploring the impact of co-varying water availability and energy price on productivity and profitability of Alpine hydropower

    Science.gov (United States)

    Anghileri, Daniela; Botter, Martina; Castelletti, Andrea; Burlando, Paolo

    2016-04-01

    Alpine hydropower systems are experiencing dramatic changes both from the point of view of hydrological conditions, e.g., water availability and frequency of extremes events, and of energy market conditions, e.g., partial or total liberalization of the market and increasing share of renewable power sources. Scientific literature has, so far, mostly focused on the analysis of climate change impacts and associated uncertainty on hydropower operation, underlooking the consequences that socio-economic changes, e.g., energy demand and/or price changes, can have on hydropower productivity and profitability. In this work, we analyse how hydropower reservoir operation is affected by changes in both water availability and energy price. We consider stochastically downscaled climate change scenarios of precipitation and temperature to simulate reservoir inflows using a physically explicit hydrological model. We consider different scenarios of energy demand and generation mix to simulate energy prices using an electricity market model, which includes different generation sources, demand sinks, and features of the transmission lines. We then use Multi-Objective optimization techniques to design the operation of hydropower reservoirs for different purposes, e.g. maximization of revenue and/or energy production. The objective of the work is to assess how the tradeoffs between the multiple operating objectives evolve under different co-varying climate change and socio-economic scenarios and to assess the adaptive capacity of the system. The modeling framework is tested on the real-world case study of the Mattmark reservoir in Switzerland.

  20. Fatty acid composition of cooked chicken meat and chicken meat products as influenced by price range at retail.

    Science.gov (United States)

    Gibbs, Rachael A; Rymer, Caroline; Givens, D I

    2013-06-01

    The primary objective was to determine fatty acid composition of skinless chicken breast and leg meat portions and chicken burgers and nuggets from the economy price range, standard price range (both conventional intensive rearing) and the organic range from four leading supermarkets. Few significant differences in the SFA, MUFA and PUFA composition of breast and leg meat portions were found among price ranges, and supermarket had no effect. No significant differences in fatty acid concentrations of economy and standard chicken burgers were found, whereas economy chicken nuggets had higher C16:1, C18:1 cis, C18:1 trans and C18:3 n-3 concentrations than had standard ones. Overall, processed chicken products had much higher fat contents and SFA than had whole meat. Long chain n-3 fatty acids had considerably lower concentrations in processed products than in whole meat. Overall there was no evidence that organic chicken breast or leg meat had a more favourable fatty acid composition than had meat from conventionally reared birds. Copyright © 2012 Elsevier Ltd. All rights reserved.

  1. Evaluation of petroleum products pricing regulation in Nova Scotia : a 2 year review

    International Nuclear Information System (INIS)

    2008-11-01

    Gasoline price regulation was introduced in Nova Scotia on July 1st, 2006. This report presented the findings and recommendations of a review of the first two years of the gasoline price regulation in Nova Scotia. The regulations had three main objectives. This review examined whether, and to what extent, they were achieved. The objectives were to stabilize price, maintain industry infrastructure, and minimize cost to consumers. The report described the rationale for the regulation, study objectives, and approach taken to gasoline regulation in Nova Scotia, including the objectives and technical aspects of how regulation works. The gasoline market in Nova Scotia was examined, including the market structure and competitive behaviour in an unregulated market. The report also provided some theoretical perspectives on how regulation was likely to affect industry structure and competitive behaviour. The extent to which the regulation was meeting its objectives was then assessed and perspectives on the regulation from consumers, retailers and wholesalers were offered. Last, the report provided a review of the findings in terms of the key elements of regulatory design and set out recommendations for improving the system. It was recommended that in order to improve certainty, particularly given the regulated price differences amongst grades, the regulations should be amended to include grade specifications referencing octane ratings. tabs., figs

  2. Effects of exchange rate volatility on export volume and prices of forest products

    Science.gov (United States)

    Sijia Zhang; Joseph Buongiorno

    2010-01-01

    The relative value of currencies varies considerably over time. These fluctuations bring uncertainty to international traders. As a result, the volatility in exchange rate movements may influence the volume and the price of traded commodities. The volatility of exchange rates was measured by the variance of residuals in a GARCH(1,1) model of the exchange rate. We...

  3. Production, Capital Stock, and Price Level Dynamics in the Light of Kaldorian Model

    Czech Academy of Sciences Publication Activity Database

    Kodera, Jan; Vošvrda, Miloslav

    2007-01-01

    Roč. 15, č. 4 (2007), s. 79-86 ISSN 0572-3043 R&D Projects: GA ČR(CZ) GA402/06/0990 Institutional research plan: CEZ:AV0Z10750506 Keywords : investment ratio * propensity to save * expected inflation * nonlinear system * price dynamics Subject RIV: AH - Economics

  4. Outlook for Canadian refining

    International Nuclear Information System (INIS)

    Boje, G.

    1998-01-01

    The petroleum supply and demand balance was discussed and a comparison between Canadian and U.S. refineries was provided. The impact of changing product specifications on the petroleum industry was also discussed. The major changes include sulphur reductions in gasoline, benzene and MMT additives. These changes have been made in an effort to satisfy environmental needs. Geographic margin variations in refineries between east and west were reviewed. An overview of findings from the Solomon Refining Study of Canadian and American refineries, which has been very complimentary of the Canadian refining industry, was provided. From this writer's point of view refinery utilization has improved but there is a threat from increasing efficiency of US competitors. Environmental issues will continue to impact upon the industry and while the chances for making economic returns on investment are good for the years ahead, it will be a challenge to maintain profitability

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

    Directory of Open Access Journals (Sweden)

    Jitka Poměnková

    2008-01-01

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

  6. ACCOUNTING ASPECTS OF PRICING AND TRANSFER PRICING

    OpenAIRE

    TÜNDE VERES

    2011-01-01

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

  7. Petroleum refining. 5, refinery operation and management; Le raffinage du petrole. 5. Exploitation et gestion de la raffinerie

    Energy Technology Data Exchange (ETDEWEB)

    Favennec, J.P. (ed.)

    2001-07-01

    In this volume, the reader will find: an analysis of the refining industry's current environment and economics, including the importance of crude oil, the demand for petroleum products, markets and price setting mechanisms for crude oil and oil products, refining costs and margins, the evolution of the refining capacity and of constraints on the industry; a review of the tools available for optimising and controlling operations; an explanation of material balance management and a description of refinery management and organisation. Contents: I. Background to refining. 1. Oil and Energy. 2. Petroleum products applications, characteristics, markets. 3. International oil markets. 4. Refining: a technical summary investments, margins, costs probable future developments. II. Refining tools. 5. Introduction to linear programming as used in the refining industry. 6. Application of linear programming to refining. 7. Automation, process control and information technology. 8. Applications and their implementation. III. Management and organisation. 9. Management and optimisation of refinery operations. 10. Logistics: transport and dispatch. 11. Functional and organisational analysis. 12. Managerial aspects. Glossary. Index. (author)

  8. Production of Solar Grade (SoG) Silicon by Refining Liquid Metallurgical Grade (MG) Silicon: Final Report, 19 April 2001; FINAL

    International Nuclear Information System (INIS)

    Khattack, C. P.; Joyce, D. B.; Schmid, F.

    2001-01-01

    This report summarizes the results of the developed technology for producing SoG silicon by upgrading MG silicon with a cost goal of$20/kg in large-scale production. A Heat Exchanger Method (HEM) furnace originally designed to produce multicrystalline ingots was modified to refine molten MG silicon feedstock prior to directional solidification. Based on theoretical calculations, simple processing techniques, such as gas blowing through the melt, reaction with moisture, and slagging have been used to remove B from molten MG silicon. The charge size was scaled up from 1 kg to 300 kg in incremental steps and effective refining was achieved. After the refining parameters were established, improvements to increase the impurity reduction rates were emphasized. With this approach, 50 kg of commercially available as-received MG silicon was processed for a refining time of about 13 hours. A half life of and lt;2 hours was achieved, and the B concentration was reduced to 0.3 ppma and P concentration to 10 ppma from the original values of 20 to 60 ppma, and all other impurities to and lt;0.1 ppma. Achieving and lt;1 ppma B by this simple refining technique is a breakthrough towards the goal of achieving low-cost SoG silicon for PV applications. While the P reduction process was being optimized, the successful B reduction process was applied to a category of electronics industry silicon scrap previously unacceptable for PV feedstock use because of its high B content (50-400 ppma). This material after refining showed that its B content was reduced by several orders of magnitude, to(approx)1 ppma (0.4 ohm-cm, or about 5x1016 cm-3). NREL's Silicon Materials Research team grew and wafered small and lt;100 and gt; dislocation-free Czochralski (Cz) crystals from the new feedstock material for diagnostic tests of electrical properties, C and O impurity levels, and PV performance relative to similar crystals grown from EG feedstock and commercial Cz wafers. The PV conversion

  9. Production Functions for Water Delivery Systems: Analysis and Estimation Using Dual Cost Function and Implicit Price Specifications

    Science.gov (United States)

    Teeples, Ronald; Glyer, David

    1987-05-01

    Both policy and technical analysis of water delivery systems have been based on cost functions that are inconsistent with or are incomplete representations of the neoclassical production functions of economics. We present a full-featured production function model of water delivery which can be estimated from a multiproduct, dual cost function. The model features implicit prices for own-water inputs and is implemented as a jointly estimated system of input share equations and a translog cost function. Likelihood ratio tests are performed showing that a minimally constrained, full-featured production function is a necessary specification of the water delivery operations in our sample. This, plus the model's highly efficient and economically correct parameter estimates, confirms the usefulness of a production function approach to modeling the economic activities of water delivery systems.

  10. Pengaruh Faktor-faktor Marketing Mix (Product, Place, Promotion, Price) Terhadap Keputusan Untuk Masuk STIE Semarang Yang Dimediasi Word of Mouth

    OpenAIRE

    Abdul Azez, Siti Rochmah Diah Yuliana

    2017-01-01

    Perkembangan Perguruan Tinggi semakin pesat, mendorong Instansi harus semakin aktif dalam merealisasikan strategi marketing yang efektif dan efisien. strategi pemasaran dari mulut ke mulut (WOM) sering disebut dengan strategi word of mouth. Rumusan masalah adalah bagaimana pengaruh faktor faktor marketing mix (place, product, promotion, price) terhadap Keputusan Masuk STIE Semarang yang dimediasi Word of Mouth”, Hipotesis : ada pengaruh faktor marketing mix (product, place, promotion, price) ...

  11. Pushing the dinosaurs[Competition in the refining industry

    Energy Technology Data Exchange (ETDEWEB)

    Cobb, C B [Ernst and Young/Wright Killen (United States)

    1999-03-01

    The need for change in the business of oil refining is expressed. Since 1981, only three years have yielded high profit margins. The future is said to be in maximising performance from existing assets. In the past, the industry focused on the asset-based strategy of refining crude and getting it into the pipelines as early as possible but apparently the future lies in identifying customer needs and satisfying those needs as quickly as possible. In other words, selling the most product at the highest price. The strategy and tactics for achieving these goals are itemised and discussed. In short, it is essential that oil and gas companies make the transformation from asset focus to customer focus. (UK)

  12. Productivity Commission Submission to the Review of Pricing Arrangements in Residential Aged Care

    OpenAIRE

    Productivity Commission

    2003-01-01

    The Commission’s submission to the Review of Pricing Arrangements for Residential Aged Care draws on earlier work, including its inquiry into Nursing Home Subsidies and a major conference on Policy Implications of the Ageing of Australia’s Population. The submission provides an assessment of the current funding and service delivery arrangements for aged care services; an analysis of the implications of ageing, trends in disability rates and other key influences on the future demand for and co...

  13. Panorama 2009 - refining

    International Nuclear Information System (INIS)

    2008-01-01

    For oil companies to invest in new refining and conversion capacity, favorable conditions over time are required. In other words, refining margins must remain high and demand sustained over a long period. That was the situation prevailing before the onset of the financial crisis in the second half of 2008. The economic conjuncture has taken a substantial turn for the worse since then and the forecasts for 2009 do not look bright. Oil demand is expected to decrease in the OECD countries and to grow much more slowly in the emerging countries. It is anticipated that refining margins will fall in 2009 - in 2008, they slipped significantly in the United States - as a result of increasingly sluggish demand, especially for light products. The next few months will probably be unfavorable to investment. In addition to a gloomy business outlook, there may also be a problem of access to sources of financing. As for investment projects, a mainstream trend has emerged in the last few years: a shift away from the regions that have historically been most active (the OECD countries) towards certain emerging countries, mostly in Asia or the Middle East. The new conjuncture will probably not change this trend

  14. Regional Mc parity: do common pricing points reduce deviations from the law of one price?

    OpenAIRE

    Mathä, Thomas Y.

    2009-01-01

    Abstract This paper analyses price differences of McDonald?s products in four different countries. I show that pricing at pricing points in different currencies may contribute to explaining deviations from the law of one price. Observing strictly equal prices is more probable if prices are set at psychological and fractional pricing points in a common currency. The latter is also found to reduce the size of price deviations. Additionally, price differences increase as transaction c...

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

    International Nuclear Information System (INIS)

    Park, Chuhwan; Chung, Mo; Lee, Sukgyu

    2011-01-01

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

  16. Modelling the Errors of EIA’s Oil Prices and Production Forecasts by the Grey Markov Model

    Directory of Open Access Journals (Sweden)

    Gholam Hossein Hasantash

    2012-01-01

    Full Text Available Grey theory is about systematic analysis of limited information. The Grey-Markov model can improve the accuracy of forecast range in the random fluctuating data sequence. In this paper, we employed this model in energy system. The average errors of Energy Information Administrations predictions for world oil price and domestic crude oil production from 1982 to 2007 and from 1985 to 2008 respectively were used as two forecasted examples. We showed that the proposed Grey-Markov model can improve the forecast accuracy of original Grey forecast model.

  17. The Big Mac Index, Consumer Price Index and Productivity Bias: Does Purchasing Power Parity Hypothesis Hold for Asian Countries?

    OpenAIRE

    Wong, Shiao Wern

    2010-01-01

    The choice of an appropriate market basket to be used in conducting PPP tests has long been the object of debate in literature (Sarno and Taylor, 2002). Perhaps, the different compositions of goods and services and the existence of non-tradable elements in the market basket could play the important roles in explaining deviations from PPP. Given the issues on the choice of an appropriate price measure and the non-tradable productivity bias, therefore in this paper, we attempt to assess and com...

  18. Accelerator based production of fissile nuclides, threshold uranium price and perspectives; Akceleratorska proizvodnja fisibilnih nuklida, granicna cijena urana i perspektive

    Energy Technology Data Exchange (ETDEWEB)

    Djordjevic, D [INIS-Inzenjering, Sarajevo (Yugoslavia); Knapp, V [Elektrotehnicki fakultet, zagreb (Yugoslavia)

    1988-07-01

    Accelerator breeder system characteristics are considered in this work. One such system which produces fissile nuclides can supply several thermal reactors with fissile fuel, so this system becomes analogous to an uranium enrichment facility with difference that fissile nuclides are produced by conversion of U-238 rather than by separation from natural uranium. This concept, with other long-term perspective for fission technology on the basis of development only one simpler technology. The influence of basic system characteristics on threshold uranium price is examined. Conditions for economically acceptable production are established. (author)

  19. S-shape relationship between customer satisfaction and willingness to pay premium prices for high quality cured pork products in Spain.

    Science.gov (United States)

    Cotes-Torres, Alejandro; Muñoz-Gallego, Pablo A; Cotes-Torres, José Miguel

    2012-03-01

    This paper explores 2 different probabilistic models explaining willingness to pay premium prices for high-quality cured products from the swine industry. Seven cured pork products (sausage, fuet, ham, loin, shoulder, salami and pepperoni) were studied in 9 food-stores in Valladolid, Spain. Consumers of the products were interviewed (686 completed surveys). It was found by using mixed effect statistical models that the relationship between willingness to pay a premium price and customer satisfaction had nonlinear behavior, following an S-shape with inverted slope which was the first empirical evidence of this type of behavior in meat products in real market conditions. It was also established that the interaction between satisfaction and current expenditure on the product was significant and indispensable for explaining consumers' willingness to pay premium price for cured pork products. Copyright © 2011 Elsevier Ltd. All rights reserved.

  20. The Complexity Uncertain Analysis about Three Differences Old and New Product Pricing Oligarch Retailers Closed-Loop Supply Chain

    Directory of Open Access Journals (Sweden)

    Junhai Ma

    2014-01-01

    Full Text Available This paper studied some realistic recycle fields at present in China, such as some daily machinery and equipment, electronic products, and plastic products. Under such circumstance, three oligarch retailers are a common situation. In this paper, we model and analyze the game of three oligarch retailers in a closed-loop supply chain. The stability of the Nash equilibrium, the bifurcation and chaos phenomenon of the recycling price and new product quantity when retailers change its adjustment speed, the profit trends of the three retailers, and the power spectrum are studied. At last, we used the parameter adjustment and the variable state feedback control strategy for chaos control, and the chaos of the system is delayed effectively. For closed-loop supply chain research, the conclusions of the numerical simulation in this paper not only have realistic guiding significance, but also have theoretical reference value.

  1. Impact of cigarette price differences across the entire European Union on cross-border purchase of tobacco products among adult cigarette smokers.

    Science.gov (United States)

    Agaku, Israel T; Blecher, Evan; Filippidis, Filippos T; Omaduvie, Uyoyo T; Vozikis, Athanassios; Vardavas, Constantine I

    2016-05-01

    We investigated the impact of cigarette price differences across the European Union (EU) on cross-border tobacco purchasing because of cheaper price among current cigarette smokers. Individual-level tobacco-related data (including cross-border tobacco purchasing behavior) were from the Special Eurobarometer 385 (V.77.1), a cross-sectional survey of persons aged ≥15 years from 27 EU Member States during 2012. Country-specific weighted average prices (WAP) per 1000 cigarettes (as of 1 July 2012) were obtained from the European Commission, and divided by 50 to yield WAP per cigarette pack. The dispersion in EU cigarette prices was measured with the coefficient of variation. Multivariate logistic regression was applied to measure the relationship between EU-wide cigarette price differential and cross-border tobacco purchasing because of cheaper price among current cigarette smokers (n=6896). The coefficient of variation for cigarette WAP within the EU was 0.39 (mean price=€3.99/pack). Of all current cigarette smokers in the EU, 26.2% (27.5 million persons) engaged in a cross-border tobacco purchase within the past 12 months, of which 56.3% did so because of cheaper price in another country. EU-wide cigarette price differential was significantly associated with making a cross-border tobacco purchase because of cheaper price (adjusted OR=1.34; 95% CI 1.22 to 1.47). Reducing differences in cigarette tax and price within the EU, coupled with a stricter limitation on the quantity of cigarettes that it is possible to carry from one Member State to another, may help reduce cross-border tax avoidance strategies. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://www.bmj.com/company/products-services/rights-and-licensing/

  2. Understanding gasoline pricing in Canada

    International Nuclear Information System (INIS)

    2001-04-01

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

  3. Panorama 2007: Refining and Petrochemicals

    International Nuclear Information System (INIS)

    Silva, C.

    2007-01-01

    The year 2005 saw a new improvement in refining margins that continued during the first three quarters of 2006. The restoration of margins in the last three years has allowed the refining sector to regain its profitability. In this context, the oil companies reported earnings for fiscal year 2005 that were up significantly compared to 2004, and the figures for the first half-year 2006 confirm this trend. Despite this favorable business environment, investments only saw a minimal increase in 2005 and the improvement expected for 2006 should remain fairly limited. Looking to 2010-2015, it would appear that the planned investment projects with the highest probability of reaching completion will be barely adequate to cover the increase in demand. Refining sector should continue to find itself under pressure. As for petrochemicals, despite a steady up-trend in the naphtha price, the restoration of margins consolidated a comeback that started in 2005. All in all, capital expenditure remained fairly low in both the refining and petrochemicals sectors, but many projects are planned for the next ten years. (author)

  4. Optimal Pricing and Production Master Planning in a Multiperiod Horizon Considering Capacity and Inventory Constraints

    Directory of Open Access Journals (Sweden)

    Neale R. Smith

    2009-01-01

    Full Text Available We formulate and solve a single-item joint pricing and master planning optimization problem with capacity and inventory constrains. The objective is to maximize profits over a discrete-time multiperiod horizon. The solution process consists of two steps. First, we solve the single-period problem exactly. Second, using the exact solution of the single-period problem, we solve the multiperiod problem using a dynamic programming approach. The solution process and the importance of considering both capacity and inventory constraints are illustrated with numerical examples.

  5. Oxidative stability of refined olive and sunflower oils supplemented with lycopene-rich oleoresin from tomato peels industrial by-product, during accelerated shelf-life storage.

    Science.gov (United States)

    Kehili, Mouna; Choura, Sirine; Zammel, Ayachi; Allouche, Noureddine; Sayadi, Sami

    2018-04-25

    Tomato peels by-product from a Tunisian industry was used for the extraction of lycopene-rich oleoresin using hexane solvent maceration. Tomato peels oleoresin, TPO, exhibited competitive free radicals scavenging activity with synthetic antioxidants. The efficacy of TPO in stabilizing refined olive (ROO) and sunflower (RSO) oils was investigated for five months, under accelerated shelf-life, compared to the synthetic antioxidant, butylated hydroxytoluene (BHT). TPO was added to ROO and RSO at four different concentrations, namely 250, 500, 1000 and 2000 µg/g and BHT standard at 200 µg/g. Lipid oxidation was tracked by measuring the peroxide value, acidity, conjugated dienes and trienes. Results suggested the highest efficiency of 250 µg/g and 2000 µg/g of TPO, referring to 5 µg/g and 40 µg/g of lycopene, for the oxidative stabilization of ROO and RSO, respectively. The protective effect of TPO against the primary oxidation of these refined oils was significantly correlated to their lycopene contents. Copyright © 2017 Elsevier Ltd. All rights reserved.

  6. Life cycle assessment of the transesterification double step process for biodiesel production from refined soybean oil in Brazil.

    Science.gov (United States)

    Carvalho, Monica; da Silva, Elson Santos; Andersen, Silvia L F; Abrahão, Raphael

    2016-06-01

    Biodiesel has been attracting considerable attention as being a renewable, biodegradable, and nontoxic fuel that can contribute to the solution of some energy issues as it presents potential to help mitigate climate change. The Life Cycle Assessment of biodiesel from soybean oil (transesterification double step process) was carried out herein. A pilot plant was considered, designed to produce 72 L of biodiesel in daily continuous flow, throughout a lifetime of 15 years (8000 annual hours). The materials and equipment utilized in the construction of the plant were considered as well as the energy and substances required for the production of biodiesel. Environmental impact assessment method IPCC 2013 GWP 100a was utilized within the SimaPro software to express the final result in kg CO2-equivalent. The results quantified the CO2 emissions associated with biodiesel production throughout the lifetime of the production plant (15 years), resulting in a total value of 1,441,426.05 kg CO2-eq. (96,095.07 kg CO2-eq. per year), which was equivalent to 4.01 kg CO2-eq. per liter of biodiesel produced. Decrease of environmental loads associated with the production of biodiesel could include improvements on the handling of biomass agriculture and on the technology production of biodiesel.

  7. Customer Perception On Products Pricing Service Quality Towards Customers Quality Relationships And Loyalty Of Domestic Airlines Indonesia

    Directory of Open Access Journals (Sweden)

    Hasniaty

    2015-08-01

    Full Text Available Aviation services industry is an important industry that holds Indonesia. Indonesia has approximately 17 thousand islands scattered with a long coastline over 5000 kilometers. Air transport is an essential component for connecting approximately 250 million people with a population growth of 1.49 percent annually. Air transport services become business areas that are needed by todays modern society. This study aims to quantify the relationship between customer perceptions on the concept or product price service quality and relationship quality on customer loyalty of domestic airline in Indonesia. This study took a sample of 300 respondents. The data analyzed using SEM Structural Equation Modeling. The results of this study is theoretical findings suggests that the product has a significant positive effect on trust customer satisfaction and loyalty but positive effect is insignificant on commitment. The price has significant positive effect on trust commitment satisfaction but positive effect is insignificant on loyalty. Service quality has a significant positive effect on trust commitment satisfaction but positive effect is insignificant on loyalty. Trust has significant positive effect on satisfaction and loyalty. Commitment has significant positive effect on loyalty but positive effect is insignificant on loyalty. Satisfaction has significant positive effect on satisfaction and loyalty.

  8. A New Dynamic Pricing Model for the Effective Sustainability of Perishable Product Life Cycle

    OpenAIRE

    Pırıl Tekin; Rızvan Erol

    2017-01-01

    Perishable products run their life cycle in a short period of time due to the shortness of their shelf lives. Product efficiency falls when especially non-recyclable products are thrown away without being used. Furthermore, this kind of products that unnecessarily occupy shelves of supermarkets cause supermarkets to follow an insufficient stock management policy. Unconscious and unplanned use of our limited natural resources will deteriorate the product portfolio for future generations. Such ...

  9. Econometric model of the petroleum industry. [Determining crude supply and outputs/prices of refinery products

    Energy Technology Data Exchange (ETDEWEB)

    Rice, P [Oak Ridge National Lab., TN; Smith, V K

    1977-11-01

    This paper describes a forty-two nonlinear equation model of the U.S. petroleum industry estimated over the period 1946 to 1973. The model specifies refinery outputs and prices as being simultaneously determined by market forces while the domestic output of crude oil is determined in a block-recursive segment of the model. The simultaneous behavioral equations are estimated with nonlinear two-stage least-squares adjusted to reflect the implications of autocorrelation for those equations where it appears to be a problem. A multi-period sample simulation, together with forecasts for 1974 and 1975 are used to evaluate the model's performance. Finally, it is used to forecast to 1985 under two scenarios and compared with the Federal Energy Administration's forecast for the same period. 2 figures, 8 tables, 38 references.

  10. Uranium refining in South Africa. The production of uranium trioxide, considering raw material properties and nuclear purity requirements

    International Nuclear Information System (INIS)

    Colborn, R.P.; Bayne, D.L.G.; Slabber, M.N.

    1980-01-01

    Conventional practice results in raw materials being delivered to the uranium refineries in a form more suitable for transportation than for processing, and therefore the refineries are required to treat these raw materials to produce an acceptable intermediate feed stock. During this treatment, it is advantageous to include a purification step to ensure that the feed stock is of the required purity for nuclear grade uranium hexafluoride production, and this usually results in ammonium diuranate slurries of the required quality being produced as the intermediate feed stock. All subsequent processing steps can therefore be standardized and are effectively independent of the origin of the raw materials. It is established practice in South Africa to transport uranium as an ammonium diuranate slurry from the various mines to the Nufcor central processing plant for UOC production, and therefore the process for the production of uranium hexafluoride in South Africa was designed to take cognizance of existing transport techniques and to accept ammonium diuranate slurries as the raw material. The South African refinery will be able to process these slurries directly to uranium trioxide. This paper discusses the conditions under which the various ammonium diuranate raw materials, exhibiting a wide range of properties, can be effectively processed to produce a uranium trioxide of acceptably consistent properties. Mention is also made of the uranium hexafluoride distillation process adopted

  11. The impact of China's carbon allowance allocation rules on the product prices and emission reduction behaviors of ETS-covered enterprises

    International Nuclear Information System (INIS)

    Zhang, Yue-Jun; Wang, Ao-Dong; Tan, Weiping

    2015-01-01

    It is an important task for China to allocate carbon emission allowance to realize its carbon reduction target and establish carbon trading market. China has designed several allocation rules within seven pilot regions. What influence those rules may cause is closely related with the enthusiasm of emission trading scheme (ETS) covered enterprises' participation in carbon market, and more importantly, with the mechanism design and sustainable development of carbon market. For this purpose, the multi-stage profit model is developed to analyze the ETS-covered enterprises' product prices and emission reduction behaviors under different allocation rules. The results show that, first, under the rules of grandfathering, self-declaration and auctioning, when deciding the optimal product price and optimal carbon emission reduction, those enterprises may focus on maximizing current stage profit; however, under the rule of benchmarking, those enterprises may care more about the impact of current decisions on the profit in next stage. Second, the optimal product price policy is positively correlated with the price of the same kind products, consumers' low-carbon awareness and government subsidy. Finally, along with the increase of carbon price, consumers' low-carbon awareness and government subsidy and the decrease of carbon emission cap, those enterprises tend to reduce carbon emissions. - Highlights: • Analyze the impact of carbon allowance allocation rules on ETS-covered enterprises. • For grandfather, self-declaration and auction, they may maximize current profits. • For benchmark, they care the effect of current decisions on the coming profits. • The optimal product price positively relates to low-carbon awareness and subsidy. • Carbon price, low-carbon awareness and subsidy rise leads their emission reduction.

  12. Extraction and refining of essential oil from Australian tea tree, Melaleuca alterfornia, and the antimicrobial activity in cosmetic products

    Science.gov (United States)

    Huynh, Q.; Phan, T. D.; Thieu, V. Q. Q.; Tran, S. T.; Do, S. H.

    2012-03-01

    Tea tree oil (TTO) comes from the leaves of Melaleuca alternifornia that belongs to the myrtle family (Myrtaceae). It is one of the most powerful immune system stimulants and sorts out most viral, bacterial and fungal infections in a snap, while it is great to heal wounds and acnes. In Vietnam, Melaleuca trees can grow on acid land that stretches in a large portion of lands in the Mekong Delta region. So, there are some Melaleuca plantations developed under the Vietnamese government plans of increasing plantation forests now. However, TTO contains various amounts of 1,8-cineole that causes skin irritant. So TTO purification is very necessary. In this study, the purification of TTO that meet International Standard ISO 4730 was carried out via two steps. The first step is steam distillation to obtain crude TTO (terpinen-4-ol 35% v/v) and the average productivity is among 2.37% (v/wet-wt) or 1.23% (v/dry-wt). In the second step, the cleaned TTO is collected by vacuum distillation column and extraction yield of the whole process is about 0.3% (w/w). Besides, high concentration essential oil was applied in the cosmetic products to increase its commercial value.

  13. Extraction and refining of essential oil from Australian tea tree, Melaleuca alterfornia, and the antimicrobial activity in cosmetic products

    International Nuclear Information System (INIS)

    Huynh, Q; Phan, T D; Thieu, V Q Q; Tran, S T; Do, S H

    2012-01-01

    Tea tree oil (TTO) comes from the leaves of Melaleuca alternifornia that belongs to the myrtle family (Myrtaceae). It is one of the most powerful immune system stimulants and sorts out most viral, bacterial and fungal infections in a snap, while it is great to heal wounds and acnes. In Vietnam, Melaleuca trees can grow on acid land that stretches in a large portion of lands in the Mekong Delta region. So, there are some Melaleuca plantations developed under the Vietnamese government plans of increasing plantation forests now. However, TTO contains various amounts of 1,8-cineole that causes skin irritant. So TTO purification is very necessary. In this study, the purification of TTO that meet International Standard ISO 4730 was carried out via two steps. The first step is steam distillation to obtain crude TTO (terpinen-4-ol 35% v/v) and the average productivity is among 2.37% (v/wet-wt) or 1.23% (v/dry-wt). In the second step, the cleaned TTO is collected by vacuum distillation column and extraction yield of the whole process is about 0.3% (w/w). Besides, high concentration essential oil was applied in the cosmetic products to increase its commercial value.

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

    Science.gov (United States)

    Hepp, Martin

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

  15. US refining capacity for Canadian heavy oil : current overview and future potential

    International Nuclear Information System (INIS)

    Paget, S.

    2006-01-01

    This presentation provided an overview of the Canadian oil sands industry and investigated the potential heavy oil refining capacity of the United States. An outline of the first commercial developments of steam assisted gravity drainage (SAGD) in Alberta's oil sands was provided. Canada's reserves were compared with oil shale and heavy oil reserves in the United States and Venezuela. Influences of Canadian developments from western Canadian conventional crude oil were reviewed, and an oil sands production forecast was provided. Recent refining developments in the United States include delayed coking; catalytic cracking; fluid coking; flexicoking; and LC-fining. However, many oil sand producers are now choosing to upgrade oil, and producers are currently saturating United States markets with heavy crude oil. Canadian crude prices reached $90 per barrel in 2006. Heavy oil pipelines are now being constructed and existing heavy oil pipelines are being expanded. ConocoPhillips is planning to invest $1 billion for a new heavy oil coker, while BP is investing $3 billion for a heavy oil refinery in Indiana which plans to refine Canadian crude oil supplies. However, bitumens from Alberta are volatile in price, and excess Canadian production must be exported. Less than 10 per cent of western Canadian crude has tidewater access, and capital providers are concerned about cost over-runs. In order for the Canadian oil sands industry to succeed, refining capacity in the United States must be expanded, and open access must be provided to the Gulf coast as well as to the Pacific Ocean. tabs., figs

  16. Price fairness

    OpenAIRE

    Diller, Hermann

    2013-01-01

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

  17. Deriving the Pricing Power of Product Features by Mining Consumer Reviews

    OpenAIRE

    Nikolay Archak; Anindya Ghose; Panagiotis G. Ipeirotis

    2007-01-01

    The increasing pervasiveness of the Internet has dramatically changed the way that consumers shop for goods. Consumer-generated product reviews have become a valuable source of information for customers, who read the reviews and decide whether to buy the product based on the information provided. In this paper, we use techniques that decompose the reviews into segments that evaluate the individual characteristics of a product (e.g., image quality and battery life for a digital camera). Then, ...

  18. On the refinement calculus

    CERN Document Server

    Vickers, Trevor

    1992-01-01

    On the Refinement Calculus gives one view of the development of the refinement calculus and its attempt to bring together - among other things - Z specifications and Dijkstra's programming language. It is an excellent source of reference material for all those seeking the background and mathematical underpinnings of the refinement calculus.

  19. A Note on Price Risks in Swiss Crop Production – Empirical Results and Comparisons with other Countries

    NARCIS (Netherlands)

    Finger, R.; Benni, El N.

    2012-01-01

    The liberalization of Swiss agricultural markets will not only decrease crop price levels but is also expected to increase the volatility of prices. Even though these potential increases in price volatilities for Swiss producers are acknowledged as an important fact, no empirical estimates are

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

    Directory of Open Access Journals (Sweden)

    David Bouras

    2017-07-01

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