WorldWideScience

Sample records for regulators expect market

  1. Market, Regulation, Market, Regulation

    DEFF Research Database (Denmark)

    Frankel, Christian; Galland, Jean-Pierre

    2015-01-01

    barriers to trade in Europe, realized the free movement of products by organizing progressively several orders of markets and regulation. Based on historical and institutional documents, on technical publications, and on interviews, this article relates how the European Commission and the Member States had......This paper focuses on the European Regulatory system which was settled both for opening the Single Market for products and ensuring the consumers' safety. It claims that the New Approach and Standardization, and the Global Approach to conformity assessment, which suppressed the last technical...... alternatively recourse to markets and to regulations, at the three main levels of the New Approach Directives implementation. The article focuses also more specifically on the Medical Devices sector, not only because this New Approach sector has long been controversial in Europe, and has recently been concerned...

  2. Stock Market Expectations of Dutch Households.

    Science.gov (United States)

    Hurd, Michael; van Rooij, Maarten; Winter, Joachim

    2011-04-01

    Despite its importance for the analysis of life-cycle behavior and, in particular, retirement planning, stock ownership by private households is poorly understood. Among other approaches to investigate this puzzle, recent research has started to elicit private households' expectations of stock market returns. This paper reports findings from a study that collected data over a two-year period both on households' stock market expectations (subjective probabilities of gains or losses) and on whether they own stocks. We document substantial heterogeneity in financial market expectations. Expectations are correlated with stock ownership. Over the two years of our data, stock market prices increased, and expectations of future stock market price changes also increased, lending support to the view that expectations are influenced by recent stock gains or losses.

  3. Time Varying Market Integration and Expected Rteurns in Emerging Markets

    NARCIS (Netherlands)

    de Jong, F.C.J.M.; de Roon, F.A.

    2001-01-01

    We use a simple model in which the expected returns in emerging markets depend on their systematic risk as measured by their beta relative to the world portfolio as well as on the level of integration in that market.The level of integration is a time-varying variable that depends on the market value

  4. Mortgage market regulation: Europe

    NARCIS (Netherlands)

    Aalbers, M.B.; Smith, S.J.

    2012-01-01

    Despite several European Union (EU) initiatives, there is only limited pan-European mortgage market regulation. The EU strategy can be characterised as one of parallel liberalisation and consolidation. This article highlights the key differences in regulation among European mortgage markets.

  5. Time Varying Market Integration and Expected Rteurns in Emerging Markets

    OpenAIRE

    Jong, F.C.J.M. de; Roon, F.A. de

    2001-01-01

    We use a simple model in which the expected returns in emerging markets depend on their systematic risk as measured by their beta relative to the world portfolio as well as on the level of integration in that market.The level of integration is a time-varying variable that depends on the market value of the assets that can be held by domestic investors only versus the market value of the assets that can be traded freely.Our empirical analysis for 30 emerging markets shows that there are strong...

  6. Markets, religion, regulation

    DEFF Research Database (Denmark)

    Fischer, Johan

    2016-01-01

    Most recent scholarship on moral economies or religious markets argues for the compatibility of economies/markets and religious practices in particular national or regional contexts. However, over the last couple of decades or so religious markets have entered a new phase characterized by new forms...... of regulation, certification and standardization on a global scale. Building on research on global kosher (a Hebrew term meaning “fit” or “proper”), halal (an Arabic word that literally means “permissible” or “lawful”) and Hindu vegetarianism this paper argues that these economies or markets to a large extent...... are conditioned by and themselves condition forms of transnational governmentality, that is, new and often overlapping practices of government and grassroots politics. I explore religious economies and markets at three interrelated levels of the social scale: state and non-state regulation, the marketplace...

  7. Regulating deregulated energy markets

    International Nuclear Information System (INIS)

    Jackson, M.

    2002-01-01

    The North American gas and electricity markets are fast evolving, and regulators are currently faced with a host of issues such as market-based rates, unbundling, stranded costs, open access, and incentive regulation are surfacing as a result of deregulation. The regulatory environment in Ontario was reviewed by the author. Deregulated markets rule, from commodities to gas and electricity. Additionally, there is an evolution of traditional utility regulation. A look at deregulated markets revealed that there are regulations on boundary conditions on the deregulated market. Under the Ontario Energy Board (OEB), all generators, transmitters, distributors, and retailers of electricity must be licensed. The standard supply service (SSS) offered by electricity distributors and system gas which is still being sold by natural gas distributors continues to be regulated by OEB. One issue that was addressed was separation for revenues and costs of the utility's purchase and sale of gas business, at least for accounting purposes. The next issue discussed was cost of system gas and SSS, followed by timely signals and prudent incurred costs. Historical benefits were reviewed, such as historical commitments to low-cost electricity. Pooling transportation costs, transmission pricing continued, market-based rates, unbundling, stranded costs, open access, incentive regulation/ performance based regulation (PBR) were all discussed. Price cap on PBR, both partial and comprehensive were looked at. A requirement to review guidelines on cost of capital and an application to extend blanket approval provisions for gas storage were discussed, as they are amongst some of the challenges of the future. Other challenges include revised rules and practice and procedure; practice directions for cost awards, appeals, and other functions; confidentiality guidelines; and refinements to the role of and approaches to alternative dispute resolution. The future role of regulators was examined in light

  8. Banking regulation and market making

    OpenAIRE

    Cimon, David A.; Garriott, Corey

    2017-01-01

    We present a model of market makers subject to recent banking regulations: liquidity and capital constraints in the style of Basel III and a position limit in the style of the Volcker Rule. Regulation causes market makers to reduce their intermediation by refusing principal positions. However, it can improve the bid-ask spread because it induces new market makers to enter. Since market makers intermediate less, asset prices exhibit a liquidity premium. Costs of regulation can be assessed by m...

  9. Heterogeneous inflation expectations, learning, and market outcomes

    OpenAIRE

    Madeira, Carlos; Zafar, Basit

    2012-01-01

    Using the panel component of the Michigan Survey of Consumers, we show that individuals, in particular women and ethnic minorities, are highly heterogeneous in their expectations of inflation. We estimate a model of inflation expectations based on learning from experience that also allows for heterogeneity in both private information and updating. Our model vastly outperforms existing models of inflation expectations in explaining the heterogeneity in the data. We find that women, ethnic mino...

  10. Expectation formation in dynamic market experiments

    NARCIS (Netherlands)

    Heemeijer, P.

    2009-01-01

    People often make mistakes when predicting economic variables such as prices. It is important to understand how these predictions are formed, since people's expectations have a large impact on the development and stability of economic systems. In this thesis the expectation formation of individuals

  11. Heterogeneus Inflation Expectations Learning and Market Outcomes

    OpenAIRE

    Carlos Madeira; Basit Zafar

    2012-01-01

    Using the panel component of the Michigan Survey of Consumers we estimate a learning model of inflation expectations, allowing for heterogeneous use of both private information and lifetime inflation experience. We find that women, ethnic minorities, and less educated agents have a higher degree of heterogeneity in their private information, and are slower to update their expectations. During the 2000s, consumers believe inflation to be more persistent in the short term, but temporary fluctua...

  12. Inflation expectations in the Czech interbank market

    Czech Academy of Sciences Publication Activity Database

    Fukač, Martin

    -, č. 253 (2005), s. 1-30 ISSN 1211-3298 Institutional research plan: CEZ:AV0Z70850503 Keywords : inflation expectations * nominal interest rate * Fisher rule Subject RIV: AH - Economics http://www.cerge-ei.cz/pdf/wp/Wp253.pdf

  13. Beliefs and Expectations of Principles of Marketing Students

    Science.gov (United States)

    Ferrell, Linda; Gonzalez, Gabriel

    2004-01-01

    Students were surveyed to determine their beliefs and expectations prior to taking their Principles of Marketing class. The students were surveyed on the first day of class before any introduction to the course. The students were asked eight open-ended questions to determine their knowledge and awareness about marketing as a field of study. The…

  14. STOCK MARKET CRASH AND EXPECTATIONS OF AMERICAN HOUSEHOLDS*

    Science.gov (United States)

    HUDOMIET, PÉTER; KÉZDI, GÁBOR; WILLIS, ROBERT J.

    2011-01-01

    SUMMARY This paper utilizes data on subjective probabilities to study the impact of the stock market crash of 2008 on households’ expectations about the returns on the stock market index. We use data from the Health and Retirement Study that was fielded in February 2008 through February 2009. The effect of the crash is identified from the date of the interview, which is shown to be exogenous to previous stock market expectations. We estimate the effect of the crash on the population average of expected returns, the population average of the uncertainty about returns (subjective standard deviation), and the cross-sectional heterogeneity in expected returns (disagreement). We show estimates from simple reduced-form regressions on probability answers as well as from a more structural model that focuses on the parameters of interest and separates survey noise from relevant heterogeneity. We find a temporary increase in the population average of expectations and uncertainty right after the crash. The effect on cross-sectional heterogeneity is more significant and longer lasting, which implies substantial long-term increase in disagreement. The increase in disagreement is larger among the stockholders, the more informed, and those with higher cognitive capacity, and disagreement co-moves with trading volume and volatility in the market. PMID:21547244

  15. STOCK MARKET CRASH AND EXPECTATIONS OF AMERICAN HOUSEHOLDS.

    Science.gov (United States)

    Hudomiet, Péter; Kézdi, Gábor; Willis, Robert J

    2011-01-01

    This paper utilizes data on subjective probabilities to study the impact of the stock market crash of 2008 on households' expectations about the returns on the stock market index. We use data from the Health and Retirement Study that was fielded in February 2008 through February 2009. The effect of the crash is identified from the date of the interview, which is shown to be exogenous to previous stock market expectations. We estimate the effect of the crash on the population average of expected returns, the population average of the uncertainty about returns (subjective standard deviation), and the cross-sectional heterogeneity in expected returns (disagreement). We show estimates from simple reduced-form regressions on probability answers as well as from a more structural model that focuses on the parameters of interest and separates survey noise from relevant heterogeneity. We find a temporary increase in the population average of expectations and uncertainty right after the crash. The effect on cross-sectional heterogeneity is more significant and longer lasting, which implies substantial long-term increase in disagreement. The increase in disagreement is larger among the stockholders, the more informed, and those with higher cognitive capacity, and disagreement co-moves with trading volume and volatility in the market.

  16. Retail competition in electricity markets. Expectations, outcomes and economics

    International Nuclear Information System (INIS)

    Littlechild, Stephen

    2009-01-01

    In 'Retail competition in electricity markets' (Energy Policy, 37(2), February 2009, Pages 377-386) it is argued by Defeuilly that the introduction of retail competition into electricity markets gave rise to great expectations that it failed to meet, and that this was primarily the fault of Austrian economic thinking. The main purpose of this note is to explain why both of these propositions are incorrect. A few further comments challenge his subsequent suggestion that the competitive process in electricity is so constrained by the limitations of consumer decision-making and electricity technology as to cast doubt on the policy of opening the retail market to competition

  17. Rational expectations, risk and efficiency in energy futures markets

    Energy Technology Data Exchange (ETDEWEB)

    Serletis, Apostolos (Calgary Univ., AB (CA). Dept. of Economics)

    1991-04-01

    Conditional on the hypothesis that energy futures markets are efficient or rational, this paper uses Fama's regression approach to measure the information in energy futures prices about future spot prices and time varying premiums. The paper finds that the premium and expected future spot price components of energy futures prices are negatively correlated and that most of the variation in futures prices is variation in expected premiums. (author).

  18. Time-Varying Market Integration and Expected Returns in Emerging Markets

    OpenAIRE

    de Jong, Frank; de Roon, Frans

    2001-01-01

    We use a simple model in which the expected returns in emerging markets depend on their systematic risk as measured by their beta relative to the world portfolio as well as on the level of integration in that market. The level of integration is a time-varying variable that depends on the market value of the assets that can be held by domestic investors only versus the market value of the assets that can be traded freely. Our empirical analysis for 30 emerging markets shows that there are stro...

  19. Self-regulation in securities markets

    OpenAIRE

    Carson, John

    2011-01-01

    This paper canvasses the trends in self-regulation and the role of self-regulation in securities markets in different parts of the world. The paper also describes the conditions in which self-regulation might be an effective element of securities markets regulation, particularly in emerging markets. Use of self-regulation and self-regulatory organizations is often recommended in emerging m...

  20. Pollution Under Environmental Regulation in Energy Markets

    CERN Document Server

    Gullì, Francesco

    2013-01-01

    Pollution Under Environmental Regulation in Energy Markets provides a study of environmental regulation when energy markets are imperfectly competitive. This theoretical treatment focuses on three relevant cases of energy markets. First, the residential space heating sector where hybrid regulation such as taxation and emissions trading together are possible. Second, the electricity market where transactions are organized in the form of multi-period auctions. Third, namely natural gas (input) and electricity (output) markets where there is combined imperfect competition in vertical related energy markets.   The development of free or low carbon technologies supported by energy policies, aiming at increasing security of supply, is also explored whilst considering competition policies that reduce market power in energy markets thus improving market efficiency. Pollution Under Environmental Regulation in Energy Markets discusses the key issues of whether imperfect competition can lessen the ability of environmen...

  1. When feeling bad is expected to be good: emotion regulation and outcome expectancies in social conflicts.

    Science.gov (United States)

    Tamir, Maya; Ford, Brett Q

    2012-08-01

    According to the instrumental approach to emotion regulation, people may want to experience even unpleasant emotions to attain instrumental benefits. Building on value-expectancy models of self-regulation, we tested whether people want to feel bad in certain contexts specifically because they expect such feelings to be useful to them. In two studies, participants were more likely to try to increase their anger before a negotiation when motivated to confront (vs. collaborate with) a negotiation partner. Participants motivated to confront (vs. collaborate with) their partner expected anger to be more useful to them, and this expectation in turn, led them to try to increase their anger before negotiating. The subsequent experience of anger, following random assignment to emotion inductions (Study 1) or engagement in self-selected emotion regulation activities (Study 2), led participants to be more successful at getting others to concede to their demands, demonstrating that emotional preferences have important pragmatic implications.

  2. Market reaction to bank liquidity regulation

    OpenAIRE

    Bruno, Brunella; Onali, Enrico; Schaeck, Klaus

    2018-01-01

    We measure market reactions to announcements concerning liquidity regulation, a key innovation in the Basel framework. Our initial results show that liquidity regulation attracts negative abnormal returns. However, the price responses are less pronounced when coinciding announcements concerning capital regulation are backed out, suggesting that markets do not consider liquidity regulation to be binding. Bank- and country-specific characteristics also matter. Liquid balance sheets and high cha...

  3. Regulation of Banking and Financial Markets

    NARCIS (Netherlands)

    A.M. Pacces (Alessio); D. Heremans (Dirk)

    2011-01-01

    textabstractAbstract: This paper is one chapter of the volume “Regulation and Economics” of the second edition of the Encyclopedia of Law and Economics. The authors review the economics of banking and financial markets and the regulatory response to market failure. Market failure in finance depends

  4. Integrating gas and electric markets and regulation

    International Nuclear Information System (INIS)

    Whitmore, C.S.

    1998-01-01

    The issues determining what energy companies must do to compete in an increasingly competitive energy market and what regulators must do to ensure fairness in competition were discussed. The similarities of gas and electric markets, and the factors driving their integration were highlighted. The importance of communications and customer service in the energy market and the nature of market power in the gas and electric industries was described. Three reasons were given why gas/electric mergers will be beneficial: (1) operating efficiency, (2) applying gas experience to electric markets, and (3) opportunity to exercise market power. Potential regulatory problems were also reviewed

  5. EURATOM radiation protection policy - in expectation of the European Internal Market

    International Nuclear Information System (INIS)

    Eriskat, H.

    1991-01-01

    Everything should be avoided in order that varying radiation protection regulations of individual member states may not hamper the realization of the EC Internal Market, whereby the EURATOM Treaty does not really allow variability because of the following: It is the task of the Community to set up and implement uniform safety standards for the public health of the population and the working force. From this can be deduced that member states may not deviate from EURATOM basic norms when putting these standards into practice. Summarizing, it can be said that on the basis of the EURATOM Treaty the implementation of industrial targets and of the aims of public health policy do not compete with each other in principle. When observing the regulations of the European Atomic Community Treaty, no serious obstacles are to be expected for radiation protection when the European Internal Market becomes reality. (orig./HSCH) [de

  6. What stock market returns to expect for the future?

    Science.gov (United States)

    Diamond, P A

    2000-01-01

    In evaluating proposals for reforming Social Security that involve stock investments, the Office of the Chief Actuary (OCACT) has generally used a 7.0 percent real return for stocks. The 1994-96 Advisory Council specified that OCACT should use that return in making its 75-year projections of investment-based reform proposals. The assumed ultimate real return on Treasury bonds of 3.0 percent implies a long-run equity premium of 4.0 percent. There are two equity-premium concepts: the realized equity premium, which is measured by the actual rates of return; and the required equity premium, which investors expect to receive for being willing to hold available stocks and bonds. Over the past two centuries, the realized premium was 3.5 percent on average, but 5.2 percent for 1926 to 1998. Some critics argue that the 7.0 percent projected stock returns are too high. They base their arguments on recent developments in the capital market, the current high value of the stock market, and the expectation of slower economic growth. Increased use of mutual funds and the decline in their costs suggest a lower required premium, as does the rising fraction of the American public investing in stocks. The size of the decrease is limited, however, because the largest cost savings do not apply to the very wealthy and to large institutional investors, who hold a much larger share of the stock market's total value than do new investors. These trends suggest a lower equity premium for projections than the 5.2 percent of the past 75 years. Also, a declining required premium is likely to imply a temporary increase in the realized premium because a rising willingness to hold stocks tends to increase their price. Therefore, it would be a mistake during a transition period to extrapolate what may be a temporarily high realized return. In the standard (Solow) economic growth model, an assumption of slower long-run growth lowers the marginal product of capital if the savings rate is constant

  7. The role of regulators in competitive markets

    International Nuclear Information System (INIS)

    Singer, J.

    2002-01-01

    Some of the key features of restructuring the electric power industry in Ontario were presented, with reference to Ontario Power Generation, a successor company to emerge from Ontario Hydro. Restructuring has resulted in a pool-based model with financial bilateral contracts, corporate separation instead of functional unbundling, and a market power mitigation framework based on decontrol of assets and revenue cap/rebate. The regulators in the Ontario model are the Ontario Energy Board, the Independent Electricity Market Operator, and the Federal Energy Regulators. Regulators are pressured to keep prices low while recognizing that price signals are essential for market functioning. The paper discussed the historical practice of system operators working under the assumption of 'reliability at any price', and examined if it is compatible with a market structure. It was noted that independent system operators hold significant power over market design and functioning, but have little oversight. 2 figs

  8. Liberalised energy markets, customer expectations, fiscal greed: a call for more equity

    International Nuclear Information System (INIS)

    Brendow, K.

    2003-01-01

    This note describes how, since 2000/2001, a rise of taxes and para-taxes in some western European countries has partly or fully absorbed the gains resulting from the liberalisation of electricity or heat markets. For the energy industry and customers in these countries the question arises: was liberalisation in vain? Have they been led into error? Customers in accession countries may wonder whether this experience and the agreed minimum energy taxation in the European Union imply tariff increases, particularly for households, beyond those previously expected? Could a strengthening of the role and independence of the regulator lead to more equity in sharing the 'dividend of liberalisation'?(author)

  9. Strategic Factor Markets: Expectations, Luck, and Business Strategy

    OpenAIRE

    Jay B. Barney

    1986-01-01

    Much of the current thinking about competitive strategy focuses on ways that firms can create imperfectly competitive product markets in order to obtain greater than normal economic performance. However, the economic performance of firms does not depend simply on whether or not its strategies create such markets, but also on the cost of implementing those strategies. Clearly, if the cost of strategy implementation is greater than returns obtained from creating an imperfectly competitive produ...

  10. Challenge to innovative technologies and the expected market appeal

    International Nuclear Information System (INIS)

    Tobita, Kenji; Nishio, Satoshi; Konishi, Satoshi; Tokimatsu, Koji; Hiwatari, Ryoji

    2005-01-01

    This section describes the future of fusion energy in terms of its impact on the global energy supply and global warming mitigation, the possible entry scenarios of fusion into future energy market, and innovative technologies for deploying and expanding fusion's share in the market. Section 5.1 shows that fusion energy can contribute to the stabilization of atmospheric CO 2 concentration if fusion is introduced into the future energy market at a competitive price. Considerations regarding fusion's entry scenarios into the energy market are presented in Sec. 5.2, suggesting that fusion should replace fossil energy sources and thus contribute to global warming mitigation. In this sense, first generation fusion power plants should be a viable energy source with global appeal and be so attractive as to employed in developing countries rather than in developed countries. Favorable factors lending to this purpose are fusion's stability as a power source, and its security, safety, and environmental friendliness as well as its cost-electricity. The requirements for core plasma to expand the share of fusion in the market in the latter half of this century are given in Sec. 5.3, pointing out the importance of high beta access with low aspect ratio and plasma profile control. From this same point of view, innovative fusion technologies worthy of further development are commented on in Sec. 5.4, addressing the high temperature blanket, hydrogen production, high temperature superconductors, and hot cell maintenance. (author)

  11. Gaz de France and market regulation

    International Nuclear Information System (INIS)

    Carriere, J.F.; Balard, Th.

    2004-01-01

    Following an overview of the specific features of the European gas sector (characterised by highly concentrated production and increasing levels of production outside Europe and over long distances), the article describes the lead up to the opening of the market place in France. Following the application of the first directive in 2000, Gaz de France has carried out various measures, the aim of which was to achieve immediate efficiency (with the organizational separation of the transport and trading divisions, the separation of activities from an accounting viewpoint and the publication of a transparent TPA tariff as opposed to a discriminatory one). This opening of the gas sector has seen the start of a gradual process based on this experience. In addition to these initial measures, the opening of the gas markets has been subject to a regulatory framework as from January 2003, and the task of regulating the French gas sector has been given to the CRE (Commission de regulation de l'electricite). Thanks to the ongoing dialogue initiated by the latter with all key players in the market, progress has been achieved in various fields related to regulation. Even if this process is not complete, the French example demonstrates that the combined actions of the regulator and the market operators working together in a constructive manner and in stages, makes it possible to successfully introduce a genuinely open market. (authors)

  12. Can market forces and competition supplant regulation?

    International Nuclear Information System (INIS)

    Graham, D.

    1998-01-01

    The challenges facing regulators and governments as utilities and pipelines transform from regulated monopolies into competitive businesses were discussed. In the past, the absence of competition required that utility and pipeline companies be regulated by governments to ensure fair pricing and good performance. The question of whether or not competition can entirely replace regulation was examined. Although the focus was on the natural gas industry, the regulatory trends in other industries were also briefly considered. In 1985, the federal government agreed to allow the commodity price of natural gas to fluctuate in response to market forces. This began the process of deregulation in the Canadian natural gas industry. Direct purchasing introduced competition and ended the monopolies of local distribution companies in purchasing gas. The main benefits of the competitive market structure were that consumers could choose products and services from a range of competing companies at competitive prices. This was critical to the success of the Canadian economy since Canada is the third largest exporter of energy and the eighth largest consumer of energy. It was suggested that even in a competitive market abuse of market power is possible, therefore, there is an important role for government in ensuring the existence of a level playing field. A variety of issues involved in an effective transition to a competitive market were also discussed. 2 figs

  13. Muddling up the Market: New Exempt- Market Regulations may do more Harm than Good to the Integrity of Markets

    Directory of Open Access Journals (Sweden)

    Jack M. Mintz

    2014-11-01

    protect investors from the higher risks that are presumed of exempt markets. However, there is no evidence — given the paucity of information about them — that exempt markets necessarily pose a greater risk of fraud or poorer returns and losses than do heavily regulated public markets. And if risk is indeed higher in the exempt markets, one would expect these proposed regulations to assist highquality firms from distinguishing themselves in the exempt market from low-quality firms. However, these regulations may actually have the opposite effect, making it harder for better-quality firms to signal their worthiness to investors. Canadian productivity — which continues to lag relative to other developed economies — relies heavily on businesses being able to acquire capital for investing in new technologies. Canadian companies and investors appear to be voting with their feet for exempt markets in raising that capital, possibly discouraged from public markets by regulatory costs and inefficiencies. For policy-makers to layer additional regulation on top of exempt markets without fully understanding the impact that it will have, could well result in making Canadian markets, and Canada’s economy, weaker, rather than stronger.

  14. Markets, prices and regulation in energetic activities

    International Nuclear Information System (INIS)

    Percebois, Jacques

    2015-09-01

    The author first outlines some fundamental characteristics of the different energy world markets (oil, natural gas, coal, electricity). He outlines their availability, locations, and different main geographical areas. Then, he discusses the relationships between costs and prices in which intervene external costs, taxes, feed-in tariffs, national regulations, incentives for consumers. He discusses the issue of regulation of some energy activities, i.e. how State may or may not intervene on the markets, how competition may influence the market, how activities can thus be divided (production, transport, distribution) with implications and consequences for prices. He finally outlines concerns about the future financing of investments required to face tomorrow's needs

  15. State regulation of the coming competitive market

    International Nuclear Information System (INIS)

    Lively, M.B.

    1997-01-01

    Utilities and state commissions can have retail competition without a federal presence by integrating economics and reliability through a concept called Wide Open Load Following, or WOLF. Under WOLF, the transaction between the utility and the consumer would continue to be a sale that is subject to regulation by the state commission. As a retail sale, the transaction requires no FERC involvement. This article shows how WOLF combines economics and physics for pricing retail electric sales in a competitive market so that the sales remain under the jurisdiction of a state authority, even while third parties participate in the market

  16. Can the regulated market help foster a free market for wind energy in Brazil?

    International Nuclear Information System (INIS)

    Dalbem, Marta Corrêa; Brandão, Luiz Eduardo Teixeira; Gomes, Leonardo Lima

    2014-01-01

    Wind energy has been negotiated in Brazil's regulated market through auctions organized by the government. Bilateral negotiations in the free market have been scarce. In 2011 wind farms were allowed to bid in ‘A minus 5 (A−5)' auctions, for energy with first delivery date 5 years ahead. This new design was expected to stimulate negotiations in the free market, as the 20-year contract in the regulated market eases financing while the 5-year grace period grants wind farms the option to sell whatever energy is generated beforehand in the free market. We modeled bidders' price decision in A−5 auctions as Real Options and concluded that given the low prices averaging USD 50/MW h, winners are tempted to defer investment, expecting more favorable equipment and energy prices, or a better knowledge of the wind site. Construction is likely to begin in 2–3 years, with little time left for the free market. Bidders that consider the option of eventually abandoning the project are more price competitive, increasing chances that some wind farms will never materialize. Therefore, this attempt to foster the free market may not pay-off and, moreover, it may have the unfavorable effect of turning Brazil's energy expansion planning a more difficult task. - Highlights: • Tight auction prices make winners exercise options to defer construction. • Investors that consider the option to abandon the project tend to win the auction. • High chances of default, when investors take abandonment options into account. • Auctioning wind farms for energy delivery 5 yr later will not foster a free market

  17. Subjective residual life expectancy in health self-regulation.

    Science.gov (United States)

    Ziegelmann, Jochen P; Lippke, Sonia; Schwarzer, Ralf

    2006-07-01

    Applying socioemotional selectivity theory to the domain of health, we examined the interplay of social-cognitive predictors of physical exercise in two groups of people who perceived their remaining lifetime as either expansive or limited (based on subjective longevity ratings). Individuals (N = 370) who were prescribed physical exercise were assessed at discharge from orthopedic rehabilitation as well as 6 and 12 months later. Multigroup structural equation modeling showed differences in latent means, interrelations of predictors, and amount of explained variance. Individuals who perceived their time as limited reported a less favorable profile on social-cognitive variables and less exercise goal attainment. We give first insights on how health self-regulation differs in these groups, and we discuss avenues for intervention based on socioemotional selectivity theory. In contrast to chronological age, subjective life expectancy can be targeted by intervention.

  18. Essays on market discipline, banking and regulation

    OpenAIRE

    Cabrera, Matías Daniel

    2016-01-01

    Mención Internacional en el título de doctor This Dissertation presents three studies on market discipline, implicit guarantees, sovereign risk and bank regulation. Chapter one analyzes whether larger banks are deemed as Too Big to Save by analyzing their stock returns' reaction to a set of announcements regarding governments' bailout capacity. In order to assess if there has been a risk transfer from banks to sovereigns (due to implicit guarantees), chapter two analyzes the...

  19. Oil price assumptions in macroeconomic forecasts: should we follow future market expectations?

    International Nuclear Information System (INIS)

    Coimbra, C.; Esteves, P.S.

    2004-01-01

    In macroeconomic forecasting, in spite of its important role in price and activity developments, oil prices are usually taken as an exogenous variable, for which assumptions have to be made. This paper evaluates the forecasting performance of futures market prices against the other popular technical procedure, the carry-over assumption. The results suggest that there is almost no difference between opting for futures market prices or using the carry-over assumption for short-term forecasting horizons (up to 12 months), while, for longer-term horizons, they favour the use of futures market prices. However, as futures market prices reflect market expectations for world economic activity, futures oil prices should be adjusted whenever market expectations for world economic growth are different to the values underlying the macroeconomic scenarios, in order to fully ensure the internal consistency of those scenarios. (Author)

  20. Expectations

    DEFF Research Database (Denmark)

    depend on the reader’s own experiences, individual feelings, personal associations or on conventions of reading, interpretive communities and cultural conditions? This volume brings together narrative theory, fictionality theory and speech act theory to address such questions of expectations...

  1. MARKET RISK ASSESSMENT USING EXPECTED TAIL LOST (ETL – PECULIARITIES AND APPLICATION

    Directory of Open Access Journals (Sweden)

    Sergey Radukanov

    2017-12-01

    Full Text Available Measuring market risk is explained by using Expected Tail Lost in the article. Its advantages, disadvantages and range of application are pointed out. The basic calculation stages are emphasized in MS EXCEL. Market risk measurement is carried out towards the shares of the company General Motors Company (GM

  2. Time-varying market integration and expected returns in emerging mrkets

    NARCIS (Netherlands)

    de Jong, F.C.J.M.; de Roon, F.

    2001-01-01

    We use a simple model in which the expected returns in emerging markets depend on their systematicrisk as measured by their beta relative to the world portfolio as well as on the level ofintegration in that market. The level of integration is a time-varying variable that depends on themarket value

  3. The Influence of Emotion Down-Regulation on the Expectation of Sexual Reward

    NARCIS (Netherlands)

    Brom, Mirte; Laan, Ellen; Everaerd, Walter; Spinhoven, Philip; Cousijn, Janna; Both, Stephanie

    2015-01-01

    Emotion regulation research has shown successful altering of unwanted aversive emotional reactions. Cognitive strategies can also regulate expectations of reward arising from conditioned stimuli. However, less is known about the efficacy of such strategies with expectations elicited by conditioned

  4. Nonlinear expectations in speculative markets – Evidence from the ECB survey of professional forecasters

    DEFF Research Database (Denmark)

    Stadtmann, Georg; Rülke; Reitz

    2012-01-01

    Chartist and fundamentalist models have proven to be capable of replicating stylized facts on speculative markets. In general, this is achieved by specifying nonlinear interactions of otherwise linear asset price expectations of the respective trader groups. This paper investigates whether...... in the neighborhood of the fundamental value, whereas expectations tend to be stabilizing in the presence of substantial oil price misalignment....... or not regressive and extrapolative expectations themselves exhibit significant nonlinear dynamics. The empirical results are based on a new data set from the European Central Bank Survey of Professional Forecasters on oil price expectations. In particular, we find that forecasters form destabilizing expectations...

  5. Essays on environmental regulations in electricity markets

    Science.gov (United States)

    Sun, Yanming

    Reducing the Greenhouse Gas pollution and promoting energy efficiency among consumers' energy use have been major public policy issues recently. Currently, both the United States and the European Union have set up explicit percentage requirements that require energy generators or consumers to undertake a certain percentage of their energy production or consumption from renewable sources. To achieve their renewable targets, the Tradable Green Certificates (TGC) system has been introduced in their electricity markets. Moreover, in order to promote energy conservation and achieve energy efficiency targets, price policies and price changes derived from environmental regulations have played a more important role in reducing electricity consumption. My research studies problems associated with these policy implementations. In Chapter 1, I analyze a competitive electricity market with two countries operated under a common TGC system. By using geometric illustrations, I compare the two countries' welfare when the renewable quota is chosen optimally under the common certificate market with three different situations. The policy recommendation is that when the value of damage parameter is sufficiently small, full integration with a TGC market is welfare superior to full integration of an all fossil-fuel based market with an optimal emissions standard. In Chapter 2, by analyzing a stylized theoretical model and numerical examples, I investigate the performance of the optimal renewables policy under full separation and full integration scenarios for two countries' electricity markets operated under TGC systems. In my third chapter, I look at residential electricity consumption responsiveness to increases of electricity price in the U.S. and the different effect of a price increase on electricity use for states of different income levels. My analysis reveals that raising the energy price in the short run will not give consumers much incentive to adjust their appliances and make

  6. An empirical analysis of price expectations formation: Evidence from the crude oil reserves acquisitions market

    International Nuclear Information System (INIS)

    Vielhaber, L.M.

    1991-01-01

    Reasons for the recent scant empirical attention to price expectations theory are twofold. First, except for futures markets and the occasional expectations survey, price expectations are rarely documented. Second, results of empirical tests of rational expectations are fundamentally flawed by the subjective input of the researcher. Subjectivity taints the results of the test, first, in the form of model specification and, second, in the form of the identification of the relevant information set. This study addresses each of these shortcomings. First, crude oil price expectations are recovered in the market for reserves by using a standard engineering model commonly used in reserves evaluation. Second, the crude oil futures market is used to estimate an index of information. This index circumvents the need to subjectively identify the elements of the information set, removing a key source of subjective input. The results show that agents involved in the crude oil reserves acquisitions market form expectations of futures prices in a way that does not conform with the adaptive expectations model

  7. Evaluating the Value of Flexibility in Energy Regulation Markets

    DEFF Research Database (Denmark)

    Neupane, Bijay; Pedersen, Torben Bach; Thiesson, Bo

    2015-01-01

    In this paper, we perform an econometric analysis on the benefits of introducing flexibility in the Danish/Nordic regulating power market. The paper investigates the relationships between market power prices and regulation volumes, in order to quantify the effects of flexibility on regulating power...... prices. Further, we analyze the benefit for various types of flexibility and market objectives, to detect the type of energy flexibility that maximizes the benefits. Results show that if 3.87% of total demand is flexible, market can reduce the regulation cost by 49% and the regulation volume by 29.4%....

  8. Electric power market regulations in UK

    International Nuclear Information System (INIS)

    Federico, G.; Napolano, L.

    2000-01-01

    The wholesale electricity market in UK is being radically reformed, with the abolition of a centralised market (the Pool) and the introduction of a system based around bilateral trading and real-time balancing (NETA), with the aim of increasing competition in the sector. This article analyses the English experience to draw some implications on the relationship between market design, market structure and market power, and to provide some insights for the design of the future Italian market [it

  9. Coal marketability: Effects of deregulation and regulation

    International Nuclear Information System (INIS)

    Attanasi, E.

    2000-01-01

    Electrical utility deregulation will force power plants to compete for sales because they will not longer have captive markets. Market uncertainty and uncertainty about future environmental regulations have encouraged power plants to shift to low sulfur coal and/or to use emissions allowances to comply with Phase 2 of the 1990 Clean Air Act Amendments. Mines in Northern and Central Appalachia and the Illinois Basin shipped 240 million tons of non-compliance coal to power plants without scrubbers in 1997. Under Phase 2, this coal will be replaced by low sulfur coal and/or be used with emission permits. It is possible that Powder River Basin coal production will have to increase by over 200 million tons/year to meet new demand. The prices of emissions permits will impose penalties on non-compliance coal that will probably drive out marginal coal producers. For example, if the cost of an emission permit is $200, coal from the Pittsburgh bed could bear a sulfur penalty of $6.55 per ton and similarly, coal from the Herrinbed could bear a penalty of $8.64 per ton

  10. The bumpy road of liberalisation of the Dutch Energy Market. Expectations versus the hardships of reality

    International Nuclear Information System (INIS)

    Mik, M.R.

    2006-07-01

    In June 2006 a study was finalized on the Liberalisation of the Dutch Energy Market. The European Commission decided to liberalise the European energy industry, the Netherlands taking the lead. The Dutch electricity and natural gas industries fell prey to a bumpy road of liberalization; initial expectations have proven to be overly optimistic

  11. The role of regulation in Europe's energy markets

    International Nuclear Information System (INIS)

    Jones, Ch.

    2005-01-01

    In this paper, the author emphasizes the two main issues of the role of a regulation authority in the de-regulated European internal energy markets: regulation and competition and regulation and security of supply. He explains the manner in which the European Commission will organize the preparation of new or revised guidelines under the regulation. (J.S.)

  12. Short-Term Expectation Formation Versus Long-Term Equilibrium Conditions: The Danish Housing Market

    Directory of Open Access Journals (Sweden)

    Andreas Hetland

    2017-09-01

    Full Text Available The primary contribution of this paper is to establish that the long-swings behavior observed in the market price of Danish housing since the 1970s can be understood by studying the interplay between short-term expectation formation and long-run equilibrium conditions. We introduce an asset market model for housing based on uncertainty rather than risk, which under mild assumptions allows for other forms of forecasting behavior than rational expectations. We test the theory via an I(2 cointegrated VAR model and find that the long-run equilibrium for the housing price corresponds closely to the predictions from the theoretical framework. Additionally, we corroborate previous findings that housing markets are well characterized by short-term momentum forecasting behavior. Our conclusions have wider relevance, since housing prices play a role in the wider Danish economy, and other developed economies, through wealth effects.

  13. Romantic partners in a market perspective: expectations about what ensures a highly desirable partner.

    Science.gov (United States)

    Castro, Felipe N; Hattori, Wallisen T; Yamamoto, Maria Emília; Lopes, Fívia A

    2013-10-01

    This study used the biological market perspective and influential statistical models from the marketing field to investigate males' and females' expectations regarding which combination of characteristics are most relevant in ensuring desirable partnerships for same-sex individuals. Thus, 358 Brazilian undergraduates assessed eight descriptions of same-gender stimulus targets (formulated with different levels of physical attractiveness, social skills, and current or prospective social status) and evaluated the overall desirability of the targets' expected or probable partners. From the possible combinations, three groups emerged: for one group, mainly composed of men, status characteristics were the most important attributes; for the others, mostly composed of women, social skills or physical characteristics were identified as most important in appealing to a desirable partner. This work expands the understanding of variability in male and female romantic expectations, and its implications are discussed from an evolutionary perspective.

  14. Implications of Carbon Regulation for Green Power Markets

    Energy Technology Data Exchange (ETDEWEB)

    Bird, Lori [National Renewable Energy Lab. (NREL), Golden, CO (United States); Holt, Ed [Ed Holt & Associates Inc., Harpeswell, ME (United States); Carroll, Ghita [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2007-04-01

    This paper examines the potential effects that emerging mandatory carbon markets have for voluntary markets for renewable energy, or green power markets. In an era of carbon regulation, green power markets will continue to play an important role because many consumers may be interested in supporting renewable energy development beyond what is supported through mandates or other types of policy support. The paper examines the extent to which GHG benefits motivate consumers to make voluntary renewable energy purchases and summarizes key issues emerging as a result of these overlapping markets, such as the implications of carbon regulation for renewable energy marketing claims, the demand for and price of renewable energy certificates (RECs), and the use of RECs in multiple markets (disaggregation of attributes). It describes carbon regulation programs under development in the Northeast and California, and how these might affect renewable energy markets in these regions, as well as the potential interaction between voluntary renewable energy markets and voluntary carbon markets, such as the Chicago Climate Exchange (CCX). It also briefly summarizes the experience in the European Union, where carbon is already regulated. Finally, the paper presents policy options for policymakers and regulators to consider in designing carbon policies to enable carbon markets and voluntary renewable energy markets to work together.

  15. A Scalar Comparison of Motivations and Expectations of Experience within the Religious Tourism Market

    Directory of Open Access Journals (Sweden)

    Daniel H. Olsen

    2013-12-01

    Full Text Available Academic studies on tourism market segmentation have decreased in scale over time, with the focus on tourist segmentation changing from segmenting the market as a whole to segmenting specific tourism niche markets. This change in scale can also be seen in how academics have attempted to segment the religious tourism market moving from discussions related to the pilgrim-tourist dichotomy to segmenting visitors based on religious affiliation to world regions and countries to specific religious activities such as religious festivals and infrastructural amenities such as hotels. In this paper the author, following Wall’s (1997 discussion of the spatial characteristics of tourist attractions (i.e., points, lines, and areas, raises the question as to whether there is a scalar difference in the motivations and the ‘expectation of experience’ of: people who travel to specific religious sites (points; those who travel along religiously - themed routes (lines and; those who travel to the Holy Land (area. To answer this question the author looks at and compares three case studies - Cathedrals in the United Kingdom (point, the Camino de Santiago de Compostela (line, and the Holy Land (area - and summarizes the academic literature pertaining to the characteristics, motivations and expectations of experience of visitors to these locations. Cursory findings show that there are differences regarding the motivations and the ‘expectation of experience’ of people who travel to religious points versus religious lines and religious areas.

  16. 75 FR 77048 - Fair Credit Reporting Affiliate Marketing Regulations

    Science.gov (United States)

    2010-12-10

    ... received from an affiliate to make a solicitation for marketing purposes to the consumer, unless the... DEPARTMENT OF THE TREASURY Office of Thrift Supervision Fair Credit Reporting Affiliate Marketing... Proposal: Fair Credit Reporting Affiliate Marketing Regulations. OMB Number: 1550-0112. Form Number: N/A...

  17. 7 CFR 982.40 - Marketing policy and volume regulation.

    Science.gov (United States)

    2010-01-01

    ... the declared policy of the act, it shall compute and announce an inshell trade demand for that year... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing policy and volume regulation. 982.40 Section 982.40 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING...

  18. What do professional forecasters' stock market expectations tell us about herding, information extraction and beauty contests?

    DEFF Research Database (Denmark)

    Rangvid, Jesper; Schmeling, M.; Schrimpf, A.

    2013-01-01

    We study how professional forecasters form equity market expectations based on a new micro-level dataset which includes rich cross-sectional information about individual characteristics. We focus on testing whether agents rely on the beliefs of others, i.e., consensus expectations, when forming...... their own forecast. We find strong evidence that the average of all forecasters' beliefs influences an individual's own forecast. This effect is stronger for young and less experienced forecasters as well as forecasters whose pay depends more on performance relative to a benchmark. Further tests indicate...

  19. Expecting the unexpected: applying the Develop-Distort Dilemma to maximize positive market impacts in health.

    Science.gov (United States)

    Peters, David H; Paina, Ligia; Bennett, Sara

    2012-10-01

    Although health interventions start with good intentions to develop services for disadvantaged populations, they often distort the health market, making the delivery or financing of services difficult once the intervention is over: a condition called the 'Develop-Distort Dilemma' (DDD). In this paper, we describe how to examine whether a proposed intervention may develop or distort the health market. Our goal is to produce a tool that facilitates meaningful and systematic dialogue for practitioners and researchers to ensure that well-intentioned health interventions lead to productive health systems while reducing the undesirable distortions of such efforts. We apply the DDD tool to plan for development rather than distortions in health markets, using intervention research being conducted under the Future Health Systems consortium in Bangladesh, China and Uganda. Through a review of research proposals and interviews with principal investigators, we use the DDD tool to systematically understand how a project fits within the broader health market system, and to identify gaps in planning for sustainability. We found that while current stakeholders and funding sources for activities were easily identified, future ones were not. The implication is that the projects could raise community expectations that future services will be available and paid for, despite this actually being uncertain. Each project addressed the 'rules' of the health market system differently. The China research assesses changes in the formal financing rules, whereas Bangladesh and Uganda's projects involve influencing community level providers, where informal rules are more important. In each case, we recognize the importance of building trust between providers, communities and government officials. Each project could both develop and distort local health markets. Anyone intervening in the health market must recognize the main market perturbations, whether positive or negative, and manage them so

  20. Expectations for renewable energy under market restructuring: the U.S. experience

    International Nuclear Information System (INIS)

    Heiman, M.K.

    2006-01-01

    The 1992 Energy Policy Act encouraged states to open up electricity provision to market competition. Many analysts predicted that renewable energy would take off in the deregulated market where consumers could choose their power provider and utilities would no longer be enticed to build large central power plants under guaranteed rates of return. This article outlines the flaws with that expectation. Absent a strong federal commitment, the states continue to lead with support for renewable energy. However the base from which to expand is so low, and the level of support so tenuous, that renewable energy will continue to play only a minor role in meeting U.S. energy demands with current policy in place. Furthermore, the evidence does not support the expectation that market restructuring, in and of itself, leads to a stronger state commitment to renewable energy. The failure of renewable energy to become a major component of the U.S. energy mix is not due to any intrinsic problem with the technology employed, nor with the cost of generation. Rather weak penetration may be attributed to broader forces exacerbated by market restructuring and overcome only through strong and reliable federal intervention in support of renewable energy

  1. Models of expected returns on the brazilian market: Empirical tests using predictive methodology

    Directory of Open Access Journals (Sweden)

    Adriano Mussa

    2009-01-01

    Full Text Available Predictive methodologies for test of the expected returns models are largely diffused on the international academic environment. However, these methods have not been used in Brazil in a systematic way. Generally, empirical studies proceeded with Brazilian stock market data are concentrated only in the first step of these methodologies. The purpose of this article was test and compare the models CAPM, 3-factors and 4-factors using a predictive methodology, considering two steps – temporal and cross-section regressions – with standard errors obtained by the techniques of Fama and Macbeth (1973. The results indicated the superiority of the 4-fators model as compared to the 3-fators model, and the superiority of the 3- factors model as compared to the CAPM, but no one of the tested models were enough on the explanation of the Brazilian stock returns. Contrary to some empirical evidences, that do not use predictive methodology, the size and momentum effect seem do not exist on the Brazilian capital markets, but there are evidences of the value effect and the relevance of the market for explanation of expected returns. These finds rise some questions, mainly caused by the originality of the methodology on the local market and by the fact that this subject is still incipient and polemic on the Brazilian academic environment.

  2. Relaunching a national social marketing campaign: expectations and challenges for the "new" ParticipACTION.

    Science.gov (United States)

    Faulkner, Guy; McCloy, Cora; Plotnikoff, Ronald C; Tremblay, Mark S

    2011-07-01

    ParticipACTION is a Canadian physical activity communications and social marketing organization that has been relaunched in 2007 after a 6-year hiatus. The purpose of this study is to qualitatively identify and describe the expectations and challenges the relaunch of the new ParticipACTION may present for existing physical activity organizations. Using a purposeful sampling strategy, the authors conduct semistructured telephone interviews with 49 key informants representing a range of national, provincial, and local organizations with a mandate to promote physical activity. Overall, there is strong support in seeing ParticipACTION relaunched. However, organizational expectations and/or their ideal vision for it are mixed. Organizations envision and support its performing an overarching social marketing and advocacy role, and in providing tools and resources that supplement existing organizational activities. Four major organizational challenges are identified concerning overlapping mandates, partnership and leadership concerns, competition for funding, and capacity concerns. Social marketing initiatives, such as ParticipACTION, may not be able to maximize their impact unless they address the expectations and concerns of competing organizations with a mandate to promote physical activity.

  3. Regulation of alcohol marketing: a global view.

    Science.gov (United States)

    Casswell, Sally; Maxwell, Anna

    2005-09-01

    The marketing of alcohol produces a new challenge for policy development internationally, in part because of the increase in the use of new, unmeasured technologies. Many of these new developments are, as yet, relatively invisible in the policy arena. New approaches in branding, the utilization of marketing opportunities via branded events and new products provide additional complexity to attempts to monitor and to restrict the impact of marketing on young people and other vulnerable groups. Current attempts to restrict marketing globally, which rely primarily on voluntary codes and focus on traditional media, are inadequate to these challenges. A new statutory framework is required to enable the monitoring and control of the full marketing mix in ways which match the sophistication of the marketing efforts themselves.

  4. Modelling of hydro and wind power in the regulation market

    International Nuclear Information System (INIS)

    Kiviluoma, J.; Holttinen, H.; Meibom, P.

    2006-01-01

    The amount of required regulation capacity in the power system is affected by the wind power prediction errors. A model has been developed which can evaluate the monetary effects of prediction errors. The model can be used to evaluate (1) the regulation costs of wind power, (2) regulation market prices including effects related to the participation of power producers in the regulating power market, (3) value of accurate wind forecasts and (4) the effect of decreasing the length of the spot market clearance. This article discusses the problems related to developing a realistic model of the regulating power market including the interaction between the spot market and the regulating power market. There are several issues that make things complicated. (1) How to calculate the minimum amount of needed secondary (minute) reserves. Traditionally the Nordic TSOs have used an N-1 criteria in each country to determine the required amounts of positive secondary reserve, but as installed wind power capacity grows, it will become relevant to include the wind power prediction errors in the estimation of secondary reserves. (2) Consumption forecast errors and plant outages also contribute to activation of regulating power and should have stochastic input series besides wind power. (3) Risk premiums and transaction costs in the regulating power market are difficult to estimate as well as the effects of the possible use of market power. This is especially true in the Nordic system with the high share of hydro power, since the water value and hydrological limitations make things more complex than in a thermal system. (4) The available regulation capacity is not necessarily equal to the truly available capacity. All producers don't participate in the regulation market although in principle they could. (orig.)

  5. THE BASIS OF THE MARKET REGULATION OF PAYMENT CARDS

    Directory of Open Access Journals (Sweden)

    Khetagurov G. V.

    2017-06-01

    Full Text Available The article is devoted to basics and the regulation problems of the modern payment cards market. In particular, it addresses the key participants in a payment system, which include the Central Bank, credit organizations, settlement and clearing centers. The paper explores the basic functions of the participants. The author analyzes approaches of card payment systems to development and implementation monitoring of standards and regulations relative to the technology: hardware and software, communication channels, etc. The article contains analysis of information exchange in the framework of payment cards market and specific features of the design and development of a payment infrastructure. It discusses the economic model of the payment cards market, which is based on commission payments. The paper describes the key fees. At the final stage of the study, the author examines the role of different global regulators in the payment card market, conducts an analysis of the foundations of the Russian legislation regulating this market.

  6. Market-based Conservation in Melanesia: Contrasting Expectations of Landowners and Conservationists

    Directory of Open Access Journals (Sweden)

    Bridget Marie Henning

    2015-01-01

    Full Text Available Conservationists have long been interested in the biodiverse country of Papua New Guinea but have had limited success on the ground. Direct payments for conservation appeal to Western conservationists because they compete with the material benefits from resource extraction enterprises. Direct payments are also attractive to Melanesian villagers because they appear to be the beginning of socially appropriate reciprocal relationships with conservationists. Market-based conservation assumes exchange takes place between independent, self-interested actors, but Melanesian villagers assume that exchange takes place between morally obligated, interdependent actors. Such cultural differences led to contradictory expectations and friction between conservationists and villagers in Wanang Conservation, the particular ethnographic focus of this article. However, direct payments have simultaneously satisfied some expectations of both parties. Direct payments may be useful in conservation but for different reasons than expected. They succeed as part of a wider socially acceptable reciprocal relationship, but direct payments alone will likely fail.

  7. Retail experience in the de-regulated market

    International Nuclear Information System (INIS)

    Cummings, R.

    2003-01-01

    This paper describes the experience gained to date in the de-regulated electricity market through an examination of the commercial market. In 2001, chaos provided opportunity, while in 2002 the emphasis was on operations. In 2003, the landscape reflected hyper-competition, selling second services, and a changing landscape. A discussion followed on the residential market with a look at market structure, economics, and uncertainty concerning the future. The following components were identified as working well: wholesale market, commercial market, market model/data, and innovation in offerings and green supply. Areas requiring further improvement were also identified. It was suggested that the residential de-regulated roadmap should be clarified and retail friendly transactions should be imposed. Other improvements involve education and operations/system capabilities. The author concluded that the deregulated electricity market is still an immature market, where progress is being made in the commercial market. The residential market is in a critical period, with a market model still evolving. figs

  8. Do Less Regulated Markets Attract Lower Quality Firms?

    DEFF Research Database (Denmark)

    Nielsson, Ulf

    2013-01-01

    The paper examines whether the moderately regulated London AIM market is at a disadvantage in attracting high quality firms. The results show that firms listed on AIM are of the same quality level as firms listed in the US and in Continental Europe, albeit smaller in size. Furthermore, the delist......The paper examines whether the moderately regulated London AIM market is at a disadvantage in attracting high quality firms. The results show that firms listed on AIM are of the same quality level as firms listed in the US and in Continental Europe, albeit smaller in size. Furthermore...... equivalent to firms listing in more regulated markets...

  9. Russian electricity market reform: Deregulation or re-regulation?

    International Nuclear Information System (INIS)

    Gore, Olga; Viljainen, Satu; Makkonen, Mari; Kuleshov, Dmitry

    2012-01-01

    Russia commenced liberalization of electricity prices in 2007 increasing the liberalization rate by 10–25% every six months. It was planned to reach full liberalization by 2011. Currently, the degree of liberalization is uncertain because of intense price regulation and a highly concentrated market in the hands of four large generating companies. Increased regulation and further consolidation may drive the market towards its pre-reform state. This paper analyses the competitive landscape of the Russian electricity market by assessing the ownership structure of electricity generation, price drivers, and government involvement in the electricity wholesale market in Russia. The main research question is why the targeted level of market liberalization has not been fully achieved in the Russian electricity market. - Highlights: ► Congested grid; deficit of capacity and market concentration hinder competition. ► Investment needs of the power sector led to price shocks. ► Price increase and poor competition force the government to regulate prices. ► Low liberalization rate and non-cost-reflective pricing is a result of price regulation. ► Increased regulation and consolidation drive the market toward its pre-reform state.

  10. Roadside sobriety tests and attitudes toward a regulated cannabis market

    Directory of Open Access Journals (Sweden)

    Earleywine Mitch

    2007-01-01

    Full Text Available Abstract Background Many argue that prohibition creates more troubles than alternative policies, but fewer than half of American voters support a taxed and regulated market for cannabis. Some oppose a regulated market because of concerns about driving after smoking cannabis. Although a roadside sobriety test for impairment exists, few voters know about it. The widespread use of a roadside sobriety test that could detect recent cannabis use might lead some voters who currently oppose a regulated market to support it. In contrast, a question that primes respondents about the potential for driving after cannabis use might lead respondents to be less likely to support a regulated market. Methods Phone interviews with a national sample of 1002 registered voters asked about support for a regulated cannabis market and support for such a market if a reliable roadside sobriety test were widely available. Results In this sample of registered voters, 36% supported a regulated cannabis market. Exploratory chi-square tests revealed significantly higher support among men and Caucasians but no link to age or education. These demographic variables covaried significantly. Logistic regression revealed that gender, ethnicity, and political party were significant when all predictors were included. Support increased significantly with a reliable roadside sobriety test to 44%, but some respondents who had agreed to the regulated market no longer agreed when the sobriety test was mentioned. Logistic regression revealed that ethnicity and political affiliation were again significant predictors of support with a reliable sobriety test, but gender was no longer significant. None of these demographic variables could identify who would change their votes in response to the reliable roadside test. Conclusion Increased awareness and use of roadside sobriety tests that detect recent cannabis use could increase support for a regulated cannabis market. Identifying concerns of

  11. Innovation in regulation of rapidly changing health markets.

    Science.gov (United States)

    Bloom, Gerald; Henson, Spencer; Peters, David H

    2014-06-24

    The rapid evolution and spread of health markets across low and middle-income countries (LMICs) has contributed to a significant increase in the availability of health-related goods and services around the world. The support institutions needed to regulate these markets have lagged behind, with regulatory systems that are weak and under-resourced. This paper explores the key issues associated with regulation of health markets in LMICs, and the different goals of regulation, namely quality and safety of care, value for money, social agreement over fair access and financing, and accountability. Licensing, price controls, and other traditional approaches to the regulation of markets for health products and services have played an important role, but they have been of questionable effectiveness in ensuring safety and efficacy at the point of the user in LMICs. The paper proposes a health market systems conceptual framework, using the value chain for the production, distribution and retail of health goods and services, to examine regulation of health markets in the LMIC context. We conclude by exploring the changing context going forwards, laying out implications for future heath market regulation. We argue that the case for new approaches to the regulation of markets for health products and services in LMICs is compelling. Although traditional "command and control" approaches will have a place in the toolkit of regulators, a broader bundle of approaches is needed that is adapted to the national and market-level context of particular LMICs. The implication is that it is not possible to apply standard or single interventions across countries, as approaches proven to work well in one context will not necessarily work well elsewhere.

  12. Minimising the expectation value of the procurement cost in electricity markets based on the prediction error of energy consumption

    OpenAIRE

    Yamaguchi, Naoya; Hori, Maiya; Ideguchi, Yoshinari

    2018-01-01

    In this paper, we formulate a method for minimising the expectation value of the procurement cost of electricity in two popular spot markets: {\\it day-ahead} and {\\it intra-day}, under the assumption that expectation value of unit prices and the distributions of prediction errors for the electricity demand traded in two markets are known. The expectation value of the total electricity cost is minimised over two parameters that change the amounts of electricity. Two parameters depend only on t...

  13. Studies in market-based electric power trade and regulation

    International Nuclear Information System (INIS)

    Hope, Einar

    2000-01-01

    This is a compilation of articles written by the author during the last fifteen years. Most of the articles are related to the reform of the Norwegian electric power market. This reform led to the Energy Act of 1990 and to the subsequent development of the power markets. Some of the sections are in Norwegian, some in English. The sections discuss (1) Markets for electricity trade in Norway, (2) Economic incentives and public firm behaviour, (3) Market alternatives to the present forms of occasional power trade, (4) Socio-economic considerations about electricity pricing, (5) Scenarios for market based power trade in Norway, (6) Markets for electricity: economic reform of the Norwegian electricity industry, (7) The Norwegian power market, (8) A common Nordic energy market?, (9) Organization of supply markets for natural gas in Europe, (10) The extent of the central grid, (11) Optimum regulation of grid monopolies in the power trade, (12) Power markets and competition policy, (13) Deregulation of the Norwegian power sector, (14) designing a market based system for the Icelandic electricity industry and (15) regulation regimes for the power sector

  14. Distributed resources and re-regulated electricity markets

    International Nuclear Information System (INIS)

    Ackermann, Thomas

    2007-01-01

    This paper briefly defines distributed resources (DR) and discusses the current status of DR. The main focus is on discussing the value DR can provide to re-regulated electricity markets. DR can, under certain circumstances, help to significantly reduce the main problem of re-regulation, i.e. market power. Distributed generation and demand-side resources may, even if only small quantities in terms of size of the entire market are utilised, be able to help to significantly reduce market power. This results in a significantly more efficient market. To achieve such benefits, however, DR must be in operation during times when market power issues are likely to arise. To a certain extent this is the case as demand-side resources are usually independent of established generation companies. In addition, many business cases for DG require DG to actually operate to capture the second revenue. (author)

  15. Labour Market Regulations, Outcomes and Income Distribution in ...

    International Development Research Centre (IDRC) Digital Library (Canada)

    Latin American societies continue to struggle with high income inequality as a source of ... and earnings by age, gender, level of education and other characteristics. Researchers will analyze the effects of labour market regulation, particularly ...

  16. Regulation of Food and Beverage Advertising and Marketing in India

    International Development Research Centre (IDRC) Digital Library (Canada)

    Regulation of Food and Beverage Advertising and Marketing in India ... unhealthy foods and beverages are increasing the non-communicable disease burden and risk ... and promotion of unhealthy foods and beverages to Indian children and ...

  17. Disclosure Regulation in Duopoly Markets: Proprietary Costs and Social Welfare

    NARCIS (Netherlands)

    Suijs, J.P.M.; Wielhouwer, J.L.

    2014-01-01

    The argument of proprietary costs is commonly used by firms to object against proposed disclosure regulations. The goal of this paper is to improve our understanding of the welfare consequences of disclosure in duopoly markets and to identify market settings where proprietary costs are a viable

  18. Disclosure regulation in duopoly markets : Proprietary costs and social welfare

    NARCIS (Netherlands)

    Suijs, J.P.M.; Wielhouwer, J.L.

    2014-01-01

    The argument of proprietary costs is commonly used by firms to object against proposed disclosure regulations. The goal of this paper is to improve our understanding of the welfare consequences of disclosure in duopoly markets and to identify market settings where proprietary costs are a viable

  19. Regulation of Food and Beverage Advertising and Marketing in India

    International Development Research Centre (IDRC) Digital Library (Canada)

    Foods and beverages rich in salt, sugar, calories, and saturated fats, but deficient in micronutrients, have flooded Indian food markets. Indian consumers are showing an increased preference for them. This project will help strengthen Indian policies for regulating advertising and marketing of food and beverage products in ...

  20. Entry Regulations, Product Differentiation and Determinants of Market Structure

    OpenAIRE

    Maican, Florin; Orth, ´Matilda

    2013-01-01

    We use a dynamic oligopoly model of entry and exit to evaluate how entry regulations affect profitability and market structure in retail. The model incorporates demand and store-level heterogeneity. Based on unique data for all retail food stores in Sweden, we find that the average entry costs for small and large stores are 10 and 18 percent lower, respectively, in markets with liberal compared with restrictive regulations. Counterfactual simulations show that lower entry costs in restrictive...

  1. Energy in transition. Between regulation and market

    International Nuclear Information System (INIS)

    Horzetzky, Guenther

    2016-01-01

    Actually, the energy industry is affected in a changing market environment. The expansion of the renewables led to a share of about 30 % of the German electricity production and is always rising. The renewables energy levy has reached a level of 6.35 Euro Cents per kWh, which is actually a high level. Investments in new power plants are stopped due to low market electricity prices. The market pressure on the utilities is high and their business models have to be scrutinised. The NRW state government supports the magic political triangle of a secure, affordable and environmentally friendly energy supply. Instead of further interventions we have to develop our existing energy system cautiously. Anything else would not meet the requirements for invests in the energy supply and the magic triangle of energy politics.

  2. The Role of Depression and Negative Affect Regulation Expectancies in Tobacco Smoking among College Students

    Science.gov (United States)

    Schleicher, Holly E.; Harris, Kari Jo; Catley, Delwyn; Nazir, Niaman

    2009-01-01

    Objective: Expectancies about nicotine's ability to alleviate negative mood states may play a role in the relationship between smoking and depression. The authors examined the role of negative affect regulation expectancies as a potential mediator of depression (history of depression and depressive symptoms) and smoking among college students.…

  3. Federal government and the domestic uranium market: an application of the theory of rational expectations

    International Nuclear Information System (INIS)

    Larsen, M.W.

    1978-01-01

    Domestic uranium prices began to rise dramatically in 1973 after having experienced virtually no change for nearly seven years. This thesis puts forth the proposal that the cause of the increase was the simultaneous occurrence of several unanticipated events. It is argued here that the government's aboutface decision not to sell uranium from its stockpiles, the sudden unavailability of low-cost foreign uranium, and the coincidental occurrence of the Arab oil embargo and widespread materials shortages, caused uranium prices to rise faster and higher than was or could have been anticipated at the time. A sudden change in the federal government's enrichment contracting procedure triggered the initial increases in early 1973. The sequence of events suggest that the instability witnessed in the market was due to the occurrence of unanticipated events, in general, and unexpected changes in government policies, in particular. The policy problem is due to the fact that the federal government has, from the inception of the domestic uranium industry, shaped its structure and direction. It is clear that this influence is likely to continue. To the extent that the hypothesis is correct, the government needs to better evaluate the indirect impact of its policies upon people's expectations. In order to evaluate the hypothesis an econometric model of the domestic uranium market incorporating the theory of rational expectations is developed

  4. The politics of regulation in the Turkish electricity market

    International Nuclear Information System (INIS)

    Cetin, Tamer; Oguz, Fuat

    2007-01-01

    Turkey began reforming the electricity market in 2001. The regulatory reform aimed to liberalize the market. However, the institutional and political structure was not ready for creating an efficiently working competition. The independent regulator did not have both experience and will to direct the industry to a more competitive environment. Currently, the reform has slowed down and political preferences drive the industry. This paper studies the reasons for the slowdown in the reform efforts by focusing on the relationships between the government, judiciary and the independent regulator. We conclude that strategic behaviors of players in the market, including the judiciary, the government, and the regulator, have made the introduction of competition to the market more costly

  5. The politics of regulation in the Turkish electricity market

    International Nuclear Information System (INIS)

    Cetin, T.

    2007-01-01

    Turkey began reforming the electricity market in 2001. The regulatory reform aimed to liberalize the market. However, the institutional and political structure was not ready for creating an efficiently working competition. The independent regulator did not have both experience and will to direct the industry to a more competitive environment. Currently, the reform has slowed down and political preferences drive the industry. This paper studies the reasons for the slowdown in the reform efforts by focusing on the relationships between the government, judiciary and the independent regulator. We conclude that strategic behaviors of players in the market, including the judiciary, the government, and the regulator, have made the introduction of competition to the market more costly. (author)

  6. The need for regulation in energy markets

    International Nuclear Information System (INIS)

    De Sampaio Nunes, P.

    2002-01-01

    The following topics are discussed: The need for effective regulation; Energy issues requiring regulatory policy; Models adopted in different Member States of the European Union; Results achieved by Member States; Infrastructure. (R.P.)

  7. Organization and regulation of energy markets in the European Union

    International Nuclear Information System (INIS)

    Vasconcelos, J.

    2002-01-01

    The energy regulation policy and the organization of power matters in the European Union as well as the energy markets are discussed in this Keynote Paper. The Council of European Energy Regulators is introduced. The goal of the European Union regarding energy generation and consumption in the future are analyzed. (R.P.)

  8. Regulating the Dutch pharmaceutical market: improving efficiency or controlling costs?

    NARCIS (Netherlands)

    Wolf, de P.; Brouwer, W.B.F.; Rutten, F.H.

    2005-01-01

    In this paper, we describe the Dutch pharmaceutical market, which is heavily regulated by the government. Through the regulation of prices and promoting prudent use, the Dutch government tries to bring down the cost of pharmaceuticals, which increases every year at a higher rate than total health

  9. Regulating Consumer Demand in Insurance Markets

    NARCIS (Netherlands)

    D. Schwarcz (Daniel)

    2010-01-01

    textabstractIn recent years, it has become increasingly clear that Expected Utility Theory (EUT) is a remarkably poor theory of how and why individuals purchase insurance. However, the normative implications of this conclusion have remained largely unexplored. This Article takes up this issue. It

  10. Competitive Electricity Market Regulation in the United States: A Primer

    Energy Technology Data Exchange (ETDEWEB)

    Flores-Espino, Francisco [National Renewable Energy Lab. (NREL), Golden, CO (United States); Tian, Tian [National Renewable Energy Lab. (NREL), Golden, CO (United States); Chernyakhovskiy, Ilya [National Renewable Energy Lab. (NREL), Golden, CO (United States); Chernyakhovskiy, Ilya [National Renewable Energy Lab. (NREL), Golden, CO (United States); Miller, Mackay [National Grid, Warwick (United Kingdom)

    2016-12-01

    The electricity system in the United States is a complex mechanism where different technologies, jurisdictions and regulatory designs interact. Today, two major models for electricity commercialization operate in the United States. One is the regulated monopoly model, in which vertically integrated electricity providers are regulated by state commissions. The other is the competitive model, in which power producers can openly access transmission infrastructure and participate in wholesale electricity markets. This paper describes the origins, evolution, and current status of the regulations that enable competitive markets in the United States.

  11. Estimating WACC for Regulated Industries on Developing Financial Markets and in Times of Market Uncertainty

    Directory of Open Access Journals (Sweden)

    Igor Stubelj

    2014-03-01

    Full Text Available The paper deals with the estimation of weighted average cost of capital (WACC for regulated industries in developing financial markets from the perspective of the current financial-economic crisis. In current financial market situation some evident changes have occurred: risk-free rates in solid and developed financial markets (e. g. USA, Germany have fallen, but due to increased market volatility, the risk premiums have increased. The latter is especially evident in transition economies where the amplitude of market volatility is extremely high. In such circumstances, there is a question of how to calculate WACC properly. WACC is an important measure in financial management decisions and in our case, business regulation. We argue in the paper that the most accurate method for calculating WACC is the estimation of the long-term WACC, which takes into consideration a long-term stable yield of capital and not the current market conditions. Following this, we propose some solutions that could be used for calculating WACC for regulated industries on the developing financial markets in times of market uncertainty. As an example, we present an estimation of the capital cost for a selected Slovenian company, which operates in the regulated industry of electric distribution.

  12. Regulating Consumer Demand in Insurance Markets

    OpenAIRE

    Schwarcz, Daniel

    2010-01-01

    textabstractIn recent years, it has become increasingly clear that Expected Utility Theory (EUT) is a remarkably poor theory of how and why individuals purchase insurance. However, the normative implications of this conclusion have remained largely unexplored. This Article takes up this issue. It argues that many observed deviations from EUT are likely the result of mistakes, in the sense that consumers would act differently than they do if they possessed perfect information and cognitive res...

  13. Regulation and development of the Argentinean gas market

    International Nuclear Information System (INIS)

    Ponzo, Ricardo; Dyner, Isaac; Arango, Santiago; Larsen, Erik R.

    2011-01-01

    Gas markets are becoming increasingly important around the world and the long-term evolution of these markets is of strategic importance for many countries. This makes it essential to understand how regulation and intervention in these markets affects the long-term prospect for the secure supply of gas. We use Argentina as a case to illustrate some of the issues and consequences of gas regulation. Argentina is a country that has had a significant increase in the use of gas over the years, and where a potential gas deficit looms large in the present and the future. Based on a simulation model developed to understand the supply of gas in Argentina, we discuss how regulation will influence the long-term supply of gas in both Argentina and surrounding countries. Using the model, we develop a series of scenarios to highlight the consequences of different current and possible future interventions in the market by the Regulator. Finally, we discuss short-term regulatory options to reduce the impact of a gas deficit, and the possibility of securing the long-term supply of gas in Argentina. - Research Highlights: →This study show that even short intervention in markets can have long term impact. →Simulation can help to understand the evolution of the Argentinean gas markets. →Scenarios highlight the gas shortage.

  14. Addressing environmental contamination through market regulations

    African Journals Online (AJOL)

    Contrary to the prevailing view that the Registration, Evaluation, Authorisation and Restriction of Chemicals (REACH) law, which amended the US Toxic Substances Control Act (TSCA), is the 'gold standard' for chemical regulation, the central premise of this article is that the Frank R. Lautenberg Chemical Safety Act for the ...

  15. Regulation of Telecommunications: The Choice Between Market and Regulatory Failures

    Directory of Open Access Journals (Sweden)

    Dmitrii Trubnikov

    2017-04-01

    Full Text Available Purpose – The paper examines the main regulatory frameworks of the telecommunications industry through the concept of market failure and analyses how and why the policy often leads to undesirable outcomes that might be considered as regulatory failure. Methodology/approach/design – The research uses the EU regulatory framework for electronic communications as a base for the analysis of the main policy objectives through the prism of the market failure theory with an eye to the interests of the main market players in the telecommunications markets. Findings – About any aspect of regulation allows to find ways to create opportunities for some groups of the industry and stifle activity of others. Despite the theory of market failure provides reasonable justifications for regulation of telecommunications markets, it is possible to argue that many of these problems are mainly the consequence of the policy and could be better solved by market mechanisms. Originality/value – The results of the research allow to look at the problems of telecommunications development and issues of the high level of concentration of the telecommunications markets as regulatory formed problems rather than consequences of the inherited industry’s characteristics.

  16. The impact of Mexico's CRE regulation on Pemex marketing

    International Nuclear Information System (INIS)

    Martinez, A.

    1997-01-01

    The past, present and future of the natural gas industry in Mexico was reviewed. As far as the past is concerned, Pemex-Gas was a state monopoly, not subject to an independent regulatory authority. It was primarily concerned with providing natural gas to domestic consumers, it engaged in minimal marketing activities, and it was highly centralized. In the country as a whole, there was a notable indifference to regulation, and an almost total absence of a regulatory culture. Natural gas was seen as a minor byproduct of petroleum, not as an engine of economic growth. Reforms introduced in May 1995 attempt to institute revolutionary changes by creating a federal regulatory commission, (Comision Reguladora de Energia, CRE for short), and strongly encouraging private sector involvement in the storage, transmission and distribution of natural gas, while reserving exclusive jurisdiction for exploration and production to the State. Provisions of the new natural gas legislation were explained, including the impact on transportation, distribution and retail sales by the State Gas company, Pemex-Gas, and its assigned leading role in bringing about the legislated changes. A fully functioning open access system is expected to be in place by November 1997

  17. Kidney Sales and Market Regulation: A Reply to Semrau.

    Science.gov (United States)

    Koplin, Julian J

    2017-11-15

    Luke Semrau argues that the documented harms of existing organ markets do not undermine the case for establishing regulated systems of paid kidney donation. He offers two arguments in support of this conclusion. First, Semrau argues that the harms of kidney selling are straightforwardly amenable to regulatory solution. Second, Semrau argues that even in existing black markets, sellers would likely have experienced greater harm if the option of selling a kidney were not available. This commentary challenges both of Semrau's claims. I argue that there is no reason to believe that kidney sellers benefit from the current black market trade in organs, and highlight a number of potential issues regarding the effectiveness and feasibility of Semrau's proposed market regulations. © The Author 2017. Published by Oxford University Press, on behalf of the Journal of Medicine and Philosophy Inc. All rights reserved. For permissions, please e-mail: journals.permissions@oup.com.

  18. On how access to an insurance market affects investments in safety measures, based on the expected utility theory

    International Nuclear Information System (INIS)

    Bjorheim Abrahamsen, Eirik; Asche, Frank

    2011-01-01

    This paper focuses on how access to an insurance market should influence investments in safety measures in accordance with the ruling paradigm for decision-making under uncertainty-the expected utility theory. We show that access to an insurance market in most situations will influence investments in safety measures. For an expected utility maximizer, an overinvestment in safety measures is likely if access to an insurance market is ignored, while an underinvestment in safety measures is likely if insurance is purchased without paying attention to the possibility for reducing the probability and/or consequences of an accidental event by safety measures.

  19. Effect of business regulation on investment in emerging market economies

    Directory of Open Access Journals (Sweden)

    Birungi Korutaro

    2013-01-01

    Full Text Available This paper provides an empirical analysis of the business regulatory factors that influence investment in a selection of 29 emerging market economies. Both theoretical and empirical literature on the effect of the regulatory environment on investment is reviewed. A panel data analysis over the period 2003–2007 reveals that investment is influenced by secure property rights and the degree of business entry regulation. The results carry important policy implications for improving the investment climate of emerging market economies.

  20. The Regulation of the Credit Card Market in Turkey

    OpenAIRE

    Ahmet Faruk Aysan; L. Yildiz

    2006-01-01

    The rapid growth in Turkish credit card market brought together new issues. Card holders and consumer unions complain about the high interest rates, economists complain about the default rates and banks complain about the amnesties. After all of these complaints coinciding with the accelerating suicide incidences due to credit card debts, regulation has been enacted in the credit card market in Turkey. In 2003, credit cards had been taken into the scope of the Consumer Protection Law. This wa...

  1. An expectancy-value model of emotion regulation: implications for motivation, emotional experience, and decision making.

    Science.gov (United States)

    Tamir, Maya; Bigman, Yochanan E; Rhodes, Emily; Salerno, James; Schreier, Jenna

    2015-02-01

    According to expectancy-value models of self-regulation, people are motivated to act in ways they expect to be useful to them. For instance, people are motivated to run when they believe running is useful, even when they have nothing to run away from. Similarly, we propose an expectancy-value model of emotion regulation, according to which people are motivated to emote in ways they expect to be useful to them, regardless of immediate contextual demands. For instance, people may be motivated to get angry when they believe anger is useful, even when there is nothing to be angry about. In 5 studies, we demonstrate that leading people to expect an emotion to be useful increased their motivation to experience that emotion (Studies 1-5), led them to up-regulate the experience of that emotion (Studies 3-4), and led to emotion-consistent behavior (Study 4). Our hypotheses were supported when we manipulated the expected value of anxiety (Study 1) and anger (Studies 2-5), both consciously (Studies 1-4) and unconsciously (Study 5). We discuss the theoretical and pragmatic implications of the proposed model. PsycINFO Database Record (c) 2015 APA, all rights reserved.

  2. Liquidity Regulation, the Central Bank, and the Money Market

    OpenAIRE

    Scheubel, Beatrice; Körding, Julia

    2013-01-01

    As reliance on excessively short-term wholesale funding has been one of the major causes for the 2007-2009 financial crisis, recent advances in global liquidity regulation try to curb the excessive reliance on short-term wholesale funding without being clear on how such an approach will affect the overall equilibrium on money markets. In particular, liquidity regulation may interfere with the central bank's influence on short-term money market rates. This paper tries to fill the gap in unders...

  3. CONSIDERATIONS REGARDING REGULATIONS ON FINANCIAL MARKETS IN THE CONDITIONS OF ROMANIA AS A EU MEMBER STATE

    Directory of Open Access Journals (Sweden)

    ALEXANDRU CRISTIAN DOBRE

    2018-02-01

    Full Text Available Financial markets are increasingly becoming an area of major interest to the European Union in its efforts to achieve competitive global development levels similar to those of the United States. The Lisbon Agenda is a testimony to this, although the latest assessments are not at all optimistic about the achievement of the target as expected for 2010. To meet its objectives, the EU has generated a comprehensive package of regulatory initiatives, composed of directives and regulations that translate its policies into the field. The paper aims at a careful review of all of them. Approximation of investment and capital markets is made from the two major chapters of Community policies whose freedom of movement within the internal market is a fundamental desideratum of the European Union: the free movement of capital and freedom of movement of services. Financial markets are an integral part of European capital under current conditions, so development regulation helps European Union member states achieve their financial goals. At the same time, by imposing these regulations, we observe the European Union's intention to act as a starter of systems to bring to the development of states and not to leave behind the countries that are in difficulty, through a rigorous and transparent regulation of the financial markets.

  4. Healthcare market research examined. Relevant, rigorous and highly regulated

    Directory of Open Access Journals (Sweden)

    Bob Douglas

    2011-10-01

    Full Text Available [The abstract of this article is not available. Here are the first sentences of the article. The full text is freely available upon registration]Market research is invariably confused with marketing – but, in fact, the two disciplines are very different. Put in its simplest terms, marketing is about promotion whilst market research is about understanding. Accordingly, data collected for market research purposes are used in a completely different way to that gathered for marketing, with research practices heavily regulated to ensure high ethical standards.Let’s begin with a definition of what, exactly, market research is. According to the ICC/ESOMAR International Code 2007 (a definition also adopted by the European Pharmaceutical Market Research Association, it is: «the systematic gathering and interpretation of information about individuals or organisations using the statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision-making. The identity of respondents will not be revealed to the user of the information without explicit consent and no sales approach will be made to them as a direct result of their having provided information».

  5. Liberalising Dutch Energy Markets. Champions and governance, rules and regulations. The 1995-2005 stories

    International Nuclear Information System (INIS)

    De Jong, J.

    2006-09-01

    Liberalisation of Dutch energy markets was not a sudden change of policy direction, but rather the result of policy evaluations and discussions which had already been going on for quite some time when the Minister of Economic Affairs issued an Energy White Paper in early 1996, and the EU Directives for the electricity market (1996) and the gas market (1998) were introduced. The Dutch followed a two-way track, aiming at a phased market liberalisation for gas and electricity with full legal electricity network unbundling and a merger of the four large power generators into a national champion. For gas, the Dutch position as a major natural gas producer led to the proposition of a structure that was much more careful, following the EU Directive to the millimetre. Some ten years since the White Paper was issued, Dutch decision-making, legislation and regulation of the energy market has gone through a fascinating, burdensome and complex, and sometimes chaotic and frustrating process. This study highlights the importance of market dynamics and the almost unbearable and unsolvable balance between policy, legislation and regulation. Further attention is given to the role of Dte ( Office of Energy Regulation) and its evolution into a full merger with the NMa (Netherlands Competition Authority), and ownership and privatisation discussions against the backdrop of the developments in the wider European energy markets. Overall, the study concludes that it appears to be too early to tell whether energy market policies of the last decade have delivered the expected results in either quantitative or monetary terms. What the process did deliver, however, was a lot of turbulence and dynamics, a boost for innovation in marketing and technology drives, and increased awareness about consumer power in which the threat to switch in itself produces results of improved service, more transparency and increased accountability

  6. Financial Sector Regulation and Reforms in Emerging Markets: An Overview

    OpenAIRE

    Eswar S. Prasad

    2010-01-01

    This paper provides an overview of the complex conceptual and practical challenges that emerging market economies face as they attempt to reform their frameworks for financial regulation. These economies are striving to balance the quest for financial stability with the imperatives of financial development and broader financial inclusion. I argue that these objectives can in fact reinforce one another. I also discuss aspects of macroeconomic policies and cross-border regulation that have impl...

  7. Design of a real time market for regulating power. FlexPower WP1 - Report 3

    Energy Technology Data Exchange (ETDEWEB)

    Bang, C.; Fock, F.; Togeby, M.

    2011-12-15

    The FlexPower project investigates the possibility of using broadcasted dynamic electricity prices as a simple and low cost means to activating a large number of flexible small-scale power units. The aim is to provide regulating power via an aggregated response from the numerous units on a volunteer basis. The power units could for example be electrical heating and cooling units, electrical vehicles, industrial demand and micro generation. Each power unit can have its own local controller and individual business model and objective function. The optimisation of the local controls may require forecasts of the services requested by the customer (such as heat for a house or charging power for an electrical vehicle) - in terms of quantity, timing and flexibility - and forecasts of the electricity prices. Based on international 'real-time' power market experiences, new dynamic FlexPower market mechanisms to perform regulating power are designed and tested via simulations, under laboratory conditions and in the field. A dedicated simulation tool is developed for this purpose. The FlexPower regulation can never be perfect, but is expected to be able to meet some of the present and future growing demand for regulating power. As a starting point, a 5-minute power price signal, based on the actual regulation power prices, is tested. WP1 addresses the following question: 1) How could a system with a one-way price be designed? How can the FlexPower mechanism be integrated into the present electricity market, including the market for regulating power? This report describes the FlexPower concept, and gives one suggestion as to how this new market could work. How this will affect the different stakeholders is discussed, and risks and opportunities in the new market are presented. (LN)

  8. Relationship Marketing: Spoke of a Wheel Reference to Industrial Customers Expectations and contentment towards Identification Products

    OpenAIRE

    Shrivastava, Roopal; Shrivastava, Dr.Sangya

    2012-01-01

    The future of business is social" -- Barry Libert,Author of Social Nation,CEO MzingaOrganizations, big or small, tries for customers satisfaction, delight and loyalty. The term relationship marketing was popularised in the 1980s when the focus of marketers started to switch from customer acquisition to customer retention. The tool kit for the marketers on which they can compete and survive are 4 pillars of marketing but the countries like India did not possess the knowledge of marketing till ...

  9. Fair Trade: Social Regulation in Global Food Markets

    Science.gov (United States)

    Raynolds, Laura T.

    2012-01-01

    This article analyzes the theoretical and empirical parameters of social regulation in contemporary global food markets, focusing on the rapidly expanding Fair Trade initiative. Fair Trade seeks to transform North/South relations by fostering ethical consumption, producer empowerment, and certified commodity sales. This initiative joins an array…

  10. 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

  11. Pareto Improving Price Regulation when the Asset Market is Incomplete

    NARCIS (Netherlands)

    Herings, P.J.J.; Polemarchakis, H.M.

    1999-01-01

    When the asset market is incomplete, competitive equilibria are constrained suboptimal, which provides a scope for pareto improving interventions. Price regulation can be such a pareto improving policy, even when the welfare effects of rationing are taken into account. An appealing aspect of price

  12. Interactions of Reduced Deforestation and the Carbon Market: The Role of Market Regulations and Future Commitments

    OpenAIRE

    Anger, Niels; Dixon, Alistair; Livengood, Erich

    2009-01-01

    Reducing emissions from deforestation and degradation (REDD) has been proposed as a potentially inexpensive and plentiful source of emission abatement to supplement other longterm climate policies. However, critics doubt that REDD credits are environmentally equivalent to domestic emission reductions, and suggest an excess supply may disrupt carbon markets. In this context, we investigate the economic implications of emissions market regulations and future emissions reduction commitments, as ...

  13. Evaluating Industry Self-Regulation of Food Marketing to Children.

    Science.gov (United States)

    Kunkel, Dale L; Castonguay, Jessica S; Filer, Christine R

    2015-08-01

    Concern has grown about the role of televised food advertising as a contributor to childhood obesity. In response, the food industry adopted a program of self-regulation, with participating companies pledging to limit child-targeted advertising to healthier products. The implicit promise of the industry initiative is a significant improvement in the overall nutritional quality of foods marketed to children, thereby negating the need for governmental regulation to accomplish that objective. This study assesses the efficacy of industry self-regulation by comparing advertising content on children's TV programs before and after self-regulation was implemented. A systematic content analysis of food advertisements (n=625 in 2007, n=354 in 2013) appearing in children's TV programs on the most popular cable and broadcast channels was conducted. All analyses were conducted in 2014. Findings indicated that no significant improvement in the overall nutritional quality of foods marketed to children has been achieved since industry self-regulation was adopted. In 2013, 80.5% of all foods advertised to children on TV were for products in the poorest nutritional category, and thus pose high risk for contributing to obesity. The lack of significant improvement in the nutritional quality of food marketed to children is likely a result of the weak nutritional standards for defining healthy foods employed by industry, and because a substantial proportion of child-oriented food marketers do not participate in self-regulation. The lack of success achieved by self-regulation indicates that other policy actions are needed to effectively reduce children's exposure to obesogenic food advertising. Copyright © 2015 American Journal of Preventive Medicine. Published by Elsevier Inc. All rights reserved.

  14. Organisational Learning and Systems of Labour Market Regulation in Europe

    DEFF Research Database (Denmark)

    Holm, Jacob Rubæk; Lorenz, Edward; Lundvall, Bengt-Åke

    This paper establishes a link between international differences in the organisation of work and modes of regulation of labour markets within Europe. The paper operates with four forms of work organisation (discretionary learning, lean production, Taylorism and simple or traditional). Through...... a factor analysis three dimensions of national labour market systems (flexible security, passive security and job support) are defined. Using a multilevel logistic regression model that takes into account both characteristics of individuals and of national labour market systems it is shown...... that there is a significant positive correlation between flexible security and the prevalence of discretionary learning. On this basis we point to an extension of flexible security in Europe’s labour markets as an adequate response to the current crisis....

  15. Electricity regulation and electricity market reforms in China

    International Nuclear Information System (INIS)

    Ngan, H.W.

    2010-01-01

    The electricity industry of China has been in a process of reforms since the 1980s. This paper gives a review on the three main stages of reforms in China so as to trace out key features of various reform measures including those for power investment financing, the separation between government and power enterprises, and the division between power generation firms and power grids. The findings suggest that further regulatory change in China's electricity market reform is necessary when integration of the electricity markets and increased competition are paving the way ahead for a market-oriented structure. Prospective electricity regulation in the form of a strong legal system and effective institutions that protect market competition and promote appropriate incentives for efficiency are suggested in the paper. (author)

  16. A bargaining model of regulated markets' integration with an application to electricity supply market

    International Nuclear Information System (INIS)

    Wei Jingyuan; Smeers, Y.; Canon, E.

    1995-01-01

    An integrated market organized by regulated electric utilities is modelled. It is assumed that, given a price vector for the exchange of electricity between each pair of neighboring utilities, utilities independently maximize their own domestic social welfare subject to the zero profit constraint. An equilibrium price vector for exchanges among utilities is defined as the one which clears the exchanges for all pair of business partners. A single piecewise linear model is formulated for computing market equilibria. The model is used to simulate the electricity supply market organized by 11 western European countries

  17. ECONOMIC NATURE OF THE FINANCIAL REGULATION OF INSURANCE MARKET

    Directory of Open Access Journals (Sweden)

    L. Shirinyan

    2013-07-01

    Full Text Available Author made critical review of researches and found out the existance of the problem of determination and differentiation in a scientific literature the concepts “financial regulation of the insurance market”, “government financial regulation of the insurance market” and “government regulation of the insurance market”. It is offered the consideration of the insurance market from positions of analysis of the complex systems as being the component part of the greater system. It is disclosured the economic nature and determined the mentioned notions.

  18. 7 CFR 27.95 - Spot markets to conform to Act and regulations.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Spot markets to conform to Act and regulations. 27.95 Section 27.95 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE... and Differences § 27.95 Spot markets to conform to Act and regulations. Every bona fide spot market...

  19. A Qualitative Analysis of Sensory Experiences and Expectations in the European Organic Market: Findings from Italian and German Consumers

    OpenAIRE

    Asioli, Daniele; Canavari, Maurizio; Pignatti, Erika; Obermowe, Tim; Sidali, Katia Laura; Vogt, Christine; Spiller, Achim

    2012-01-01

    The organic food market grew steadily during the past decade (Hamm and Gronefeld 2004, Spiller 2006). This increase is accompanied by challenges in market structures, distribution channels as well as differentiation of expectations and buying motives of organic food consumers. On this regard, the “hedonistic” motives for purchasing of organic food, that also include sensory features like taste or appearance, gained importance in comparison to other motivations. Therefore, some scientists poin...

  20. COMPETITION AND REGULATION IN THE EU ENERGY MARKET

    Directory of Open Access Journals (Sweden)

    Cristina Havriş

    2009-12-01

    Full Text Available When prices are high and public service obligations are not properly fulfilled, consumers wonder if they obtain what they need from the market. In electricity and gas markets of the EU Member States, apart from the persistence of high, non-transparent regulated prices, a number of shortcomings have been identified by the European Commission, such as a less than optimal network use for energy transmission, a lack of coordination and cooperation across borders by transmission system operators and national authorities, and a lack of transparent and simple procedures for dealing with consumers’ complaints. These are the main elements of the infringement proceedings that the European Commission decided to launch on 25 June 2009 against 25 Member States for non–compliance with certain Community provisions in the Second Internal Energy Market Package, which entered into force on 1 July 2007. Quite emblematic is the fact that it occurred the same day as the adoption of the Third Internal Energy Market Package aiming to ensure a proper functioning of the EU energy market. We intend to analyse what has happened in the recent years at the EU level in order to liberalise and remove the significant remaining obstacles to competition in the energy market.

  1. Price regulation and relative price convergence: Evidence from the retail gasoline market in Canada

    International Nuclear Information System (INIS)

    Suvankulov, Farrukh; Lau, Marco Chi Keung; Ogucu, Fatma

    2012-01-01

    This paper explores price regulation and relative price convergence in the Canadian retail gasoline market. We use monthly data (2000–2010) on retail gasoline prices in 60 Canadian cities to investigate (i) whether the retail gasoline market in Canada has experienced a relative price convergence to the mean, which is expected, given the increased economic integration across Canadian provinces; and (ii) whether the introduction of price regulation mechanisms in New Brunswick and Nova Scotia in July 2006 had any impact on the price convergence in these provinces. We use a nonlinear panel unit root test and find solid evidence that Canadian retail gasoline markets are well integrated across locales; however, the share of converging cities reveals a significant decline since July of 2006. The impact of price regulation on price convergence is mixed; our results indicate that since the enactment of the regulation in all New Brunswick cities (9) included in the dataset, gasoline prices converge to the national mean. Volatility of price is also significantly reduced. In contrast, in the wake of price regulation in Nova Scotia, all 6 cities of the province are non-convergent to the mean with increased volatility and overall price level. - Highlights: ► The paper examines price regulation and convergence of gasoline prices in Canada. ► Overall in 2000–2010 the Canadian retail gasoline market was well integrated. ► Price convergence across cities has significantly declined since July 2006. ► The impact of price regulation at province level on a price convergence is mixed. ► The paper relies on the most advanced nonlinear panel unit root test.

  2. Expectations for managing contaminated ground and groundwater: developing a common view of NDA and regulators - 16252

    International Nuclear Information System (INIS)

    Clark, Anna

    2009-01-01

    The management of contaminated ground and groundwater is a notable contributor to dealing with the challenge we face in cleaning up the legacy of the UK's civil nuclear industry in a safe, cost-effective and environmentally responsible manner. To facilitate this mission, the Nuclear Decommissioning Authority, Environmental Regulators and Safety Regulators are working together to develop common expectations for the management of contaminated ground and groundwater arising on and extending off nuclear licensed sites in the UK. The aims of this work are to: - set out shared expectations for land quality management, explaining any differing expectations where consensus is difficult; - interpret expectations to ensure they are clear and implementable, facilitating planning of programmes and deliverables; - provide a framework for dialogue against which progress in land quality management can be mapped; - promote positive action to manage land quality in a proportionate and sustainable manner to achieve consistent standards; and, - identify whether areas of the regulatory framework or NDA contractual requirements warrant review and propose improvements for consideration, as appropriate. This paper outlines the process currently ongoing to identify the best way of achieving these aims in a manner that avoids compromising the respective statutory obligations, duties and functions of each party. (author)

  3. To quell obesity, who should regulate food marketing to children?

    Directory of Open Access Journals (Sweden)

    Kelly Ben

    2005-07-01

    Full Text Available Abstract The global hegemony of the United States in the production and marketing of food, while a marvel of economic success, has contributed to the epidemic of obesity that is particularly afflicting children. So far the U.S. government has declined to regulate the aggressive ways in which food producers market high-energy, low-nutrition foods to young people. That public-health responsibility has been left to an industry-created scheme of self-regulation that is deeply flawed; there is a compelling need for government involvement. The issue is certain to be raised by health advocates at a U.S. Federal Trade Commission meeting in mid-July to discuss the self-regulatory approach, but the outlook for remedies to emerge from the meeting is not encouraging.

  4. Environmental regulation of a power investment in an international market

    International Nuclear Information System (INIS)

    Vennemo, H.; Halseth, A.

    2001-01-01

    We examine the optimal environmental regulation of three Norwegian power projects: energy conservation, a natural gas fired CCGT and a new hydro project. All projects reduce emissions elsewhere in the Nordic region, and the environmental costs of these emissions are not, in general, fully reflected in market prices. We develop a theory of second best optimal regulation for this case. The optimal regulation is found to deviate substantially from a purely domestic regulation. For instance, we find it optimal to grant a substantial credit to energy conservation. The credit is sensitive to the value of reduced CO 2 emissions and whether the current Norwegian end user tax should be interpreted as an environmental or a fiscal tax

  5. Market Failure, Regulation and Education of Financial Advisors

    Directory of Open Access Journals (Sweden)

    Adam Steen

    2016-04-01

    Full Text Available This paper explores the recent series of financial scandals in the Australian financial advice industry. It examines the causes, consequences and responses to theses scandals by financial institutions, investors and regulators through the lens of relevant finance theory and extant literature. Although the paper focuses on the recent Australian experience the discussion and findings presented are of relevance to financial market regulation worldwide. It is proposed that a combination of compensation, education, training and structural reforms are required to reduce the undesirable effects of information asymmetry, adverse selection and moral hazard in the finance sector.

  6. Analysis of Alcohol Industry Submissions against Marketing Regulation

    Science.gov (United States)

    Martino, Florentine Petronella; Miller, Peter Graeme; Coomber, Kerri; Hancock, Linda; Kypri, Kypros

    2017-01-01

    A growing body of literature points to the role of vested interests as a barrier to the implementation of effective public health policies. Corporate political activity by the alcohol industry is commonly used to influence policy and regulation. It is important for policy makers to be able to critique alcohol industry claims opposed to improved alcohol marketing regulation. The Australian National Preventive Health Agency reviewed alcohol marketing regulations in 2012 and stakeholders were invited to comment on them. In this study we used thematic analysis to examine submissions from the Australian alcohol industry, based on a system previously developed in relation to tobacco industry corporate political activity. The results show that submissions were a direct lobbying tactic, making claims to government that were contrary to the evidence-base. Five main frames were identified, in which the alcohol industry claimed that increased regulation: (1) is unnecessary; (2) is not backed up by sufficient evidence; (3) will lead to unintended negative consequences; and (4) faces legal barriers to implementation; underpinned by the view (5) that the industry consists of socially responsible companies working toward reducing harmful drinking. In contrast with tobacco industry submissions on public policy, which often focused on legal and economic barriers, the Australian alcohol industry placed a heavier emphasis on notions of regulatory redundancy and insufficient evidence. This may reflect differences in where these industries sit on the ‘regulatory pyramid’, alcohol being less regulated than tobacco. PMID:28118411

  7. Analysis of Alcohol Industry Submissions against Marketing Regulation.

    Directory of Open Access Journals (Sweden)

    Florentine Petronella Martino

    Full Text Available A growing body of literature points to the role of vested interests as a barrier to the implementation of effective public health policies. Corporate political activity by the alcohol industry is commonly used to influence policy and regulation. It is important for policy makers to be able to critique alcohol industry claims opposed to improved alcohol marketing regulation. The Australian National Preventive Health Agency reviewed alcohol marketing regulations in 2012 and stakeholders were invited to comment on them. In this study we used thematic analysis to examine submissions from the Australian alcohol industry, based on a system previously developed in relation to tobacco industry corporate political activity. The results show that submissions were a direct lobbying tactic, making claims to government that were contrary to the evidence-base. Five main frames were identified, in which the alcohol industry claimed that increased regulation: (1 is unnecessary; (2 is not backed up by sufficient evidence; (3 will lead to unintended negative consequences; and (4 faces legal barriers to implementation; underpinned by the view (5 that the industry consists of socially responsible companies working toward reducing harmful drinking. In contrast with tobacco industry submissions on public policy, which often focused on legal and economic barriers, the Australian alcohol industry placed a heavier emphasis on notions of regulatory redundancy and insufficient evidence. This may reflect differences in where these industries sit on the 'regulatory pyramid', alcohol being less regulated than tobacco.

  8. Analysis of Alcohol Industry Submissions against Marketing Regulation.

    Science.gov (United States)

    Martino, Florentine Petronella; Miller, Peter Graeme; Coomber, Kerri; Hancock, Linda; Kypri, Kypros

    2017-01-01

    A growing body of literature points to the role of vested interests as a barrier to the implementation of effective public health policies. Corporate political activity by the alcohol industry is commonly used to influence policy and regulation. It is important for policy makers to be able to critique alcohol industry claims opposed to improved alcohol marketing regulation. The Australian National Preventive Health Agency reviewed alcohol marketing regulations in 2012 and stakeholders were invited to comment on them. In this study we used thematic analysis to examine submissions from the Australian alcohol industry, based on a system previously developed in relation to tobacco industry corporate political activity. The results show that submissions were a direct lobbying tactic, making claims to government that were contrary to the evidence-base. Five main frames were identified, in which the alcohol industry claimed that increased regulation: (1) is unnecessary; (2) is not backed up by sufficient evidence; (3) will lead to unintended negative consequences; and (4) faces legal barriers to implementation; underpinned by the view (5) that the industry consists of socially responsible companies working toward reducing harmful drinking. In contrast with tobacco industry submissions on public policy, which often focused on legal and economic barriers, the Australian alcohol industry placed a heavier emphasis on notions of regulatory redundancy and insufficient evidence. This may reflect differences in where these industries sit on the 'regulatory pyramid', alcohol being less regulated than tobacco.

  9. Developing products and services for a deregulated market while regulated

    International Nuclear Information System (INIS)

    Haites, E.F.

    1997-01-01

    Products and services developed for a deregulated electric power industry were discussed. The wide-ranging discussion covered products created by unbundling existing services, new products and services related to energy use, products created by expansion into communications services, and the pricing of products and services. In addition to products and services, the discussion also covered strategies for a deregulated market and the challenges of raising equity capital in a regulated environment

  10. Entry regulations, welfare and determinants of market structure

    OpenAIRE

    Maican, Florin; Orth, Matilda

    2015-01-01

    We use a dynamic oligopoly model of entry and exit with store-type differentiation to evaluate how entry regulations affect profitability, market structure and welfare. Based on unique data for all retail food stores in Sweden, we estimate demand, recover variable profits, and estimate entry costs and fixed costs by store type. Counterfactual policy experiments show that welfare increases when competition is enhanced by lower entry costs. Protecting small stores by imposing licensing fees on ...

  11. The influence of emotion down-regulation on the expectation of sexual reward.

    Science.gov (United States)

    Brom, Mirte; Laan, Ellen; Everaerd, Walter; Spinhoven, Philip; Cousijn, Janna; Both, Stephanie

    2015-05-01

    Emotion regulation research has shown successful altering of unwanted aversive emotional reactions. Cognitive strategies can also regulate expectations of reward arising from conditioned stimuli. However, less is known about the efficacy of such strategies with expectations elicited by conditioned appetitive sexual stimuli, and possible sex differences therein. In the present study it was examined whether a cognitive strategy (attentional deployment) could successfully down-regulate sexual arousal elicited by sexual reward-conditioned cues in men and women. A differential conditioning paradigm was applied, with genital vibrostimulation as unconditioned stimulus (US) and sexually relevant pictures as conditional stimuli (CSs). Evidence was found for emotion down-regulation to effect extinction of conditioned sexual responding in men. In women, the emotion down-regulatory strategy resulted in attenuated conditioned approach tendencies towards the CSs. The findings support that top-down modulation may indeed influence conditioned sexual responses. This knowledge may have implications for treating disturbances in sexual appetitive responses. Copyright © 2015. Published by Elsevier Ltd.

  12. Learning to Learn: A Case for the Heterogeneous Expectations Hypothesis in Industrialized Markets

    Directory of Open Access Journals (Sweden)

    Desmond W. Ng

    2016-07-01

    Full Text Available A cobweb model is developed where the heterogeneous expectation hypothesis is examined. An agent’s heterogeneous expectation involves the development of a “higher ordered learning” process in which agents over time develop expectations that are consistent with rational expectations. In addition, as cob web models are production based systems, an agents’ heterogeneous expectations are influenced by a specialization of activities. The case of the industrialization of the U.S. hog-pork industry is used to illustrate the influence of these features on the equilibrium and non-equilibrium properties of a modified cob-web model.

  13. 77 FR 22467 - Common Crop Insurance Regulations; Fresh Market Tomato (Dollar Plan) Crop Provisions

    Science.gov (United States)

    2012-04-16

    ...-0006] RIN 0563-AC32 Common Crop Insurance Regulations; Fresh Market Tomato (Dollar Plan) Crop... Insurance Corporation (FCIC) finalizes the Common Crop Insurance Regulations, Fresh Market Tomato (Dollar... Common Crop Insurance Regulations (7 CFR part 457), Fresh Market Tomato (Dollar Plan) Crop Provisions...

  14. MARKET FAIRNESS IN ISLAMIC ECONOMICS LAW AND ETHICS: A Study on Modern and Traditional Market Regulations in Indonesia

    Directory of Open Access Journals (Sweden)

    Mustapa Khamal Rokan

    2015-06-01

    Full Text Available This study has been motivated by unfair market conditions in the form of marginalization of traditional markets in Indonesia due to unequal competition with the modern market. This article tries to find a fair legal formulation to maintain the existence of a small market (traditional. To find the legal formulation, the author attempts to discuss market regulation in Indonesian legislation, analyzed and found it to be optimized to create a fair market arrangements in the perspective of Islamic law. This study propose a paradigm that the market functions not only as an business institution but also as religious and social institutions based on brotherhood which requires mutual respect and responsibility. There are prescriptive law to maintain the existence of traditional markets in Indonesia, which optimizes the concept of ownership as a form of common ownership and optimize the regulation of cooperation between the traditional and the modern market economy based on the doctrine of Islamic law.

  15. Parental socialization of sadness regulation in middle childhood: the role of expectations and gender.

    Science.gov (United States)

    Cassano, Michael C; Zeman, Janice L

    2010-09-01

    The authors of this study investigated mothers' and fathers' socialization of their children's sadness. The particular focus was an examination of how socialization practices changed when parents' expectancies concerning their child's sadness management abilities were violated. Methods included an experimental manipulation and direct observation of parent-child interactions in 62 families of White, middle-class children in 3rd and 4th grades. Families were randomly assigned to 1 of 2 conditions. After parents were provided with a description of normative child behavior on a sadness-induction task, feedback was manipulated such that parents in the control condition were told their child had demonstrated typical regulation while parents in the violated-expectancy condition were informed their child did not manage sadness as well as peers. The hypothesis that violated expectancies influence socialization processes was supported, with greater evidence emerging for fathers than mothers. In certain circumstances within the violated-expectancy condition, there was more parental similarity in socialization practices than in the control condition. Further, mother-father comparisons indicated differences in socialization as a function of parent and child gender that were generally consistent with gender stereotypes.

  16. Composite indicators of labour market regulations in a comparative perspective

    Directory of Open Access Journals (Sweden)

    Mariya Aleksynska

    2016-02-01

    Full Text Available Abstract Technological progress and the internet brought about new possibilities of creating, storing, exchanging, replicating, and using various kinds of data for research. This paper discusses some of the dangers embedded into the reuse of data produced by some institutions by other institutions through the combination and aggregation of initial data into various data products. To this end, we use an example of labour market regulations’ indicators developed by the World Economic Forum, the International Institute for Management Development (IMD, and the Fraser Institute, which are all partly based on the World Bank Employing Workers Indicator. We document how these three indicators compare and identify both their common and specific limitations. For each of these indicators, the choice of subcomponents and of aggregate techniques results in different pictures of labour market regulations, despite the use of the overlapping initial sources of data. Our comparative exercise calls for continuous efforts to improve the indicators of labour market regulations, as well as for cautious use of such indicators for research and policy advice. JEL codes: J00, J8, Y1

  17. The Effects of the Clock and Kickoff Rule Changes on Actual and Market-Based Expected Scoring in NCAA Football

    Directory of Open Access Journals (Sweden)

    Kenneth Linna

    2014-04-01

    Full Text Available Clock rule changes were introduced in the 2006 season with the goal of reducing the average duration of the game; these changes were reversed in 2007. In addition, in 2007 the kickoff rule was changed to create more excitement and potentially more scoring. We examine what happened to actual and expected scoring during these National Collegiate Athletic Association (NCAA football seasons. The clock rule change in 2006 led to lower scoring which was not fully encompassed in the betting market, leading to significant returns to betting the under. Multiple rule changes in 2007 led to volatility in the betting market that subsided by season’s end.

  18. Environmental regulation of a power market investment in an international market

    Energy Technology Data Exchange (ETDEWEB)

    Halseth, Arve; Vennemo, Haakon

    1998-12-01

    This document examines the optimal environmental regulation of three Norwegian power projects, energy conservation, a natural gas fired combined cycle gas turbine and a new hydro project. All projects reduce emissions elsewhere in the Nordic region, and in general the environmental costs of these emissions are not optimally reflected in market prices. A theory of second best optimal regulation is developed for this case. The optimal regulation is found to deviate considerably from a purely domestic regulation. For instance, it is found optimal to grant a substantial credit to energy conservation. The credit is sensitive to the value of reduced CO{sub 2} emissions and whether the current Norwegian end user tax should be interpreted as an environmental or a fiscal tax. 27 refs., 4 tabs.

  19. Regulation of Danish energy markets with imperfect competition

    International Nuclear Information System (INIS)

    Goertz, M.; Hansen, J.V.

    1999-01-01

    In this paper we use a new CGE model of the Danish economy with the acronym ECOSMEC (Economic COuncil Simulation Model with Energy markets and Carbon taxation). The model is a hybrid of two existing static models developed by respectively the Secretariat of the Danish Economic Council and by the MobiDK project in the Ministry of Business and Industry. Distinct features of the ECOSMEC model are a rather disaggregated modelling of energy demand and supply, introduction of various market structures in the energy sector, and a consistent specification of different household types. The simulations presented in the paper have the following implications: First, a uniform CO 2 tax of approximately 300 DKK per ton CO 2 could reduce emissions by 20 per cent in a scenario with perfect competition in the energy sector. However, assuming different market structures in the energy sector influences the uniform CO 2 tax needed to reach a given emission target. In the paper we assume that the Danish energy sector is a natural monopoly regulated to comply with average cost pricing, but we also discuss alternative descriptions of imperfect competition. Second, the empirical arguments for differentiated CO 2 taxes motivated by imperfect energy markets are weak. This is in line with earlier international studies on environmental taxes and imperfect competition. Third, the Danish economy could benefit from a deregulation of the electricity and district heating sector with respect to welfare and economic activity. This result holds also if CO 2 emissions are kept constant. (au)

  20. From VET School to the Labour Market in Bosnia and Herzegovina: Expected versus Actual Wages

    Science.gov (United States)

    Brankovic, Nina; Oruc, Nermin

    2016-01-01

    This article analyses the differences between expected and actual wages of VET students and graduates. It uses a survey of VET students enrolled in schools in Bosnia and Herzegovina, and data about employed VET graduates from the Labour Force Survey. The model of determinants of wages, expected or actual, estimated separately on each dataset,…

  1. Environmental Policies, Product Market Regulation and Innovation in Renewable Energy

    International Nuclear Information System (INIS)

    Nesta, Lionel; Vona, Francesco; Nicolli, Francesco

    2012-10-01

    We investigate the effectiveness of policies in favor of innovation in renew- able energy under different levels of competition. Using information regarding renewable energy policies, product market regulation and high-quality green patents for OECD countries since the late 1970's, we develop a pre-sample mean count-data econometric specification that also accounts for the endogeneity of policies. We find that renewable energy policies are significantly more effective in fostering green innovation in countries with deregulated energy markets. We also find that public support for renewable energy is crucial only in the generation of high-quality green patents, whereas competition enhances the generation of green patents irrespective of their quality. (authors)

  2. Expectations and forward risk premium in the Spanish deregulated power market

    International Nuclear Information System (INIS)

    Furio, Dolores; Meneu, Vicente

    2010-01-01

    Deregulation in energy markets has entailed important changes in the way agents conduct business. Price risk arises as a result of fluctuations in the future price of electricity and agents assume long or short positions in the forward and spot markets to hedge their exposure to price risk. The presence of forward risk premium in prices is evidence of the fact that agents act in the market according to risk considerations. This work aims to analyse the information content of the difference between the forward and spot prices (the so-called forward premium) regarding the agents' decisions. We find that the sign and magnitude of the ex post forward premium depend on the unexpected variation in demand and on the unexpected variation in the hydroelectric capacity, and that both the ex post and the ex ante forward premia are negatively related to the variance of spot price, as predict. We provide additional insights about relevant aspects of spot price pricing in the Spanish electricity market such as the positive relation between spot prices and CO 2 emission allowance prices or the impact on spot prices of the set of market matching rules introduced in March 2006.

  3. Expectancies for Social Support and Negative Mood Regulation Mediate the Relationship between Childhood Maltreatment and Self-Injury

    Directory of Open Access Journals (Sweden)

    Fiona Tresno

    2016-07-01

    Full Text Available Nonsuicidal self-injury (NSSI is common among young people. A majority of individuals who injure themselves do so to alleviate negative affect, as most self-injurers report difficulties with mood regulation. Trauma in childhood is an important risk factor that may cause individuals to develop poor interpersonal relations and impaired emotion-regulation, leading to the use of non-adaptive coping strategies such as NSSI. This study examined factors contributing to self-injury, focusing on the link from childhood maltreatment, through mood regulation expectancies and expectancies for social support (father, mother, and friends, to self-injury. Understanding how these variables relate to NSSI is crucial for early identification of individuals at risk of NSSI. Participants were 377 Japanese university students. Lifetime prevalence of self-injury was 20% among the sample. Results showed childhood maltreatment is a strong predictor that increases the risk for NSSI. However, expectancies for social support and mood regulation seem to be potential protective factors. Mood regulation expectancies mediate the relationship between childhood maltreatment and self-injury. In addition, expectancies for social support were indirectly linked with NSSI through negative mood regulation expectancies. It appears that perceived support from father and friends increases one's confidence in regulating difficult emotions, which in turn reduces risk for NSSI. Results suggest that strong expectancies for social support, especially from friends, increase one's confidence in regulating emotion, which contributes as a protective factor against self-injury.

  4. Economic analysis of the expected environmental impact of the Single European Market through the transport, waste and energy sectors

    International Nuclear Information System (INIS)

    Brutscher, S.

    1993-01-01

    Similarly to other studies the present dissertation presupposes that the Single European Market will lead to an increase in transport waste quantities, and energy consumption and consequently to greater environmental pollution. Of central importance here is the concept of ''expletive costs'' introduced in this paper which describes that damage to the natural and human environment which is not compensated. It forms out that the sectors of transport, waste, and energy alone will most probably send the expletive costs of the Single European Market into astronomic dimensions. In view of the interdependencies of these three sectors it seems doubtful whether the economic benefit to be expected from the establishment of the Single European Market can justify the additional environmental damage thus caused. (HP) [de

  5. Do Market Regulation and Financial Imperfections Affect Firm Size? New Empirical Evidence

    OpenAIRE

    Raquel Fonseca; Natalia Utrero González

    2004-01-01

    This paper investigates the importance that market regulation and financial imperfections have in firm size. We analyse institutions affecting labour market as Employment Protection Laws (EPL) and Product Market Regulation (PMR). Moreover, we study the effects of these institutions on firm growth. We use data from 29 industrial sectors across 15 developed countries. We find that market regulations related to financial imperfections help to explain differences in firm structure across countries.

  6. The economics of electric energy storage and its interaction with market regulations

    International Nuclear Information System (INIS)

    He, X.

    2012-01-01

    This paper seeks to expose the interaction between the economics of EES and market regulation. An exhaustive investigation of relevant market regulations for the business of storage is conducted by examining (a) spot and futures markets, (b) ancillary services' procurement and (c) possible capacity enhancement. It is concluded that market regulation can be and should be improved in a number of ways to better recognize the value of EES. (author)

  7. Promoting nuclear energy: market price or regulated tariffs? - 5042

    International Nuclear Information System (INIS)

    Percebois, J.

    2015-01-01

    Because of its negative effects, the scheme for aiding renewable energies presently in force in Europe is likely to penalise investments in nuclear energy. The F.I.T. system is a costly mechanism and a source of perverse effects as a switching of the merit order curve on the spot electricity market (with sometimes negative prices). Restoring an equity and 'equal opportunity' for nuclear energy in Europe needs to implement a 'Contract for Differences' scheme for nuclear energy, like the model now gaining favour in the U.K. The contract for differences signed between EDF and the UK government means that if the wholesale price that EDF secures for Hinckley's power falls below the index-linked preset value, the difference will be covered by payments from the UK government. It appears that nuclear power has weakened in Europe by the system of guaranteed purchase prices for renewable energies. Moreover this system is costly. New fairer rules must be implemented in the market. Either the market is left on its own to send the signals to all investors (including renewable energies), or a minimum of regulation is introduced in order to limit the costly surges of under and over capacity. But in the latter case it is necessary to treat all the energy sources in an equal way and guarantee the nuclear industry that it will also recover its fixed costs over the long term)

  8. Tax regulating carbon market in Brazil: barriers and perspectives

    International Nuclear Information System (INIS)

    Marques, Fernando; Magalhaes, Gerusa; Parente, Virginia

    2010-01-01

    The world is moving towards a low carbon economy to fight global warming caused by increases in anthropogenic emissions of greenhouse gases (GHGs). The carbon market beckons as a promising opportunity for Brazil through Clean Development Mechanism (CDM) projects, which result in Certified Emission Reductions (CERs). Although Brazil is responsible for about 8% of all CDM projects in the world, there is still no specific tax regulation for CERs, thus hindering the development of carbon market in Brazil. It is essential that Brazil have a consistent internal framework which guarantees to potential investors a minimum security on the legal and fiscal operations of CERs. There are government institutions, considering the current law and that, given the number of bills being processed in Congress, are not definitive. Such bills have different understandings for the legal classification of CERs and the related tax treatment. This article supports an urgent need for a regulatory tax system for CERs, proposing a tax exemption on transactions involving CERs in order to encourage the effective development of carbon markets in Brazil in the context of the currently international legal system in which Kyoto Protocol is based. (author)

  9. [Food supplements on the Hungarian market: regulations of marketing and of the composition of the products].

    Science.gov (United States)

    Lugasi, Andrea; Horacsek, Márta; Martos, Eva

    2010-09-26

    According to recent legislation, food supplements are foodstuffs with the purpose of supplementing normal diet. Food supplements are concentrated sources of nutrients such as vitamins and minerals and other substances with a physiological or nutritional effect. In Hungary, marketing of food supplements has not been bound to pre-market authorization since joining to the European Union. The food business operator, who is responsible for production or distribution of the product, must notify it at National Institute for Food and Nutrition Science latest at the time when the product has been placed on the market and it can be distributed simultaneously. Distribution, ingredients, and all those information which appear on the label are determined by numerous regulations and prescriptions but at the same time the lack of harmonized legislation at certain places may cause a lot of problems on Community level. The first part of the study shows the laws and regulations influencing the distribution and ingredients of food supplements, while the main target of the second part is to introduce the evaluation process of components from nutritional and physiological point of view, and the role played by the food supplements in nutrition.

  10. Core designs for the de-regulated market

    International Nuclear Information System (INIS)

    Almberger, J.; Bernro, R.; Pettersson, H.

    1999-01-01

    Complete text of publication follows: The electricity market deregulation in the Nordic countries encourages innovations and cost reductions for power production in the Vattenfall reactors. The competition on the electricity market is strong, electricity price reductions dramatic and uncertainties about the future power demand is large. In the fuel area this situation has given increased attention to traditional areas like flexibility in power production, improved core designs, need for margins (improved fuel designs), improved surveillance, decreased lead times. At Vattenfall new fuel designs are already being implemented following the last fuel purchase, for which flexibility and margins, were given high values in the evaluations with the multipurpose task of eliminating fuel related problems and meeting the future market situation. This strategy has given Vattenfall a flying start to meeting the demands of the de-regulated market. What has been added are broad studies undertaken to investigate the various route into the future with respect to finding the most effective strategies for fuel and core design and optimization. In the present paper the Vattenfall priorities for fuel designs and margins are presented in a schematic manner summarizing the results of the last fuel purchase and also presenting the current program for LFAs. Technical limitations, licensing and R and D aspects, with respect to improving the fuel utilization will be mentioned. The main focus in the paper is on the broad study carried out in the PWR core design area. Driven by the relatively low power demand various possibilities for higher production flexibility have been investigated specifically extended coast-down, coast-up and yearly load follow. Further to reduce the costs for fuel consumption improvements in core designs have been studied: improved low leakage loading patterns, low enriched end zones, improved Gd designs etc. Main results and conclusions of the core design studies will

  11. Crude oil price dynamics: A study on effects of market expectation and strategic supply on price movements

    Science.gov (United States)

    Jin, Xin

    Recent years have seen dramatic fluctuations in crude oil prices. This dissertation attempts to better understand price behavior. The first chapter studies the behavior of crude oil spot and futures prices. Oil prices, particularly spot and short-term futures prices, appear to have switched from I(0) to I(1) in early 2000s. To better understand this apparent change in persistence, a factor model of oil prices is proposed, where the prices are decomposed into long-term and short-term components. The change in the persistence behavior can be explained by changes in the relative volatility of the underlying components. Fitting the model to weekly data on WTI prices, the volatility of the persistent shocks increased substantially relative to other shocks. In addition, the risk premiums in futures prices have changed their signs and become more volatile. The estimated net marginal convenience yield using the model also shows changes in its behavior. These observations suggest that a dramatic fundamental change occurred in the period from 2002 to 2004 in the dynamics of the crude oil market. The second chapter explores the short-run price-inventory dynamics in the presence of different shocks. Classical competitive storage model states that inventory decision considers both current and future market condition, and thus interacts with spot and expected future spot prices. We study competitive storage holding in an equilibrium framework, focusing on the dynamic response of price and inventory to different shocks. We show that news shock generates response profile different from traditional contemporaneous shocks in price and inventory. The model is applied to world crude oil market, where the market expectation is estimated to experience a sharp change in early 2000s, together with a persisting constrained supply relative to demand. The expectation change has limited effect on crude oil spot price though. The world oil market structure has been studied extensively but no

  12. Impact of Market Regulations on the Development of Wind Power - An International Comparison

    International Nuclear Information System (INIS)

    Ackermann, Thomas; Soeder, Lennart

    2000-01-01

    This paper presents and briefly evaluates the most important existing market regulations and market schemes regarding its influence on the development of wind power. The evaluation of the existing market regulations focuses on the incentives provided by the various instruments to reduce production costs. The instruments and schemes are: Feed-in Tariffs, Net Metering, Bidding Process, Fixed Quotas, Green Certificate Trading, Green Power Exchange, Green Pricing. In addition, the impact of market regulations for international electricity markets with a power exchange are investigated. The analysis showed that new wind power generation can faces significant market barriers. (author)

  13. Automated TLD systems: what can we expect from the market today?

    International Nuclear Information System (INIS)

    Duftschmid, K.E.; Strachotinsky, Ch.

    1990-01-01

    The personnel monitoring service at the Austrian Research Centre Seibersdorf, which presently handles some 16,000 dosemeters per month, has been operating for more than ten years with three automated TLD systems, Harshaw model 2271. In order to renew the instrumentation an extensive evaluation and comparison of four commercially available automated systems designed to the present state-of-the-art has been carried out. The test procedures included dosimetric performance, reliability, handling speed and throughput, and additional information such as glow curve evaluation etc. The results should provide useful advice to monitoring services interested in the application of modern automated TLD systems currently on the market. (author)

  14. EU Energy Market and Regulation enter a new Framework: Energy Union

    International Nuclear Information System (INIS)

    Sencar, M.

    2015-01-01

    Energy Union provides a new framework for market and regulation. This contribution discusses its main elements (dimensions), in particular energy market functioning. Energy Union adds some new focal points to its development, e.g. research and innovation, in addition to sustainability. Energy Union also aims at improving customers position on the market, and paves the way for efficiency enhancements in regulation and market monitoring at European level. Three aspects of potential future improvements are discussed how the existing Agency for the Cooperation of Energy Regulators may further contribute to the efficient market functioning and implementation of planned infrastructure investment. (author).

  15. The regulation of market manipulation in Australia: a historical ...

    African Journals Online (AJOL)

    Notably, in Australia, market abuse practices like market manipulation and other market misconduct practices are expressly prohibited under the Corporations Act as amended by the Financial Services Reform Act. In the light of this, and for the purposes of this article, a brief historical analysis of the market manipulation ...

  16. Media background and future expectations as well as regulations when facing digitalization in Spain

    Directory of Open Access Journals (Sweden)

    Lic. Núria Reguero i Jiménez; nuria.reguero@uab.cat

    2009-01-01

    Full Text Available The current article aims at describing and analyzing non profitable media background and future expectations as well as regulations when facing digitalization in Spain. The research is carried out from an inductive perspective which implies using the documentary analysis, consultations to several sources and, eventually, interviews. Additionally, this paper aims at contributing to reflect on media social role.El presente texto pretende describir y analizar la regulación de las radios y televisiones sin ánimo de lucro en España ante la digitalización, así como sus antecedentes y sus perspectivas de futuro. De igual forma también plantea un objetivo complementario: realizar un aporte a la reflexión sobre la función social que desempeñan estos medios en la sociedad. Con el propósito de describir el objeto de estudio, se ha realizado de manera inductiva una aproximación al mismo utilizando como técnicas de investigación el análisis documental, la consulta personal a diferentes fuentes y, de forma eventual, la entrevista. Como objetivo adicional, este texto pretende contribuir a la reflexión sobre la función social de los medios de proximidad.

  17. Regulation of international energy markets: Economic effects of political actions

    Science.gov (United States)

    Shcherbakova, Anastasia V.

    's participation in a regulated market results in an average decline in its stock returns of up to 50 basis points per day, and a cumulative loss of more than 3.5% of its market value. Negative shocks to securities returns persist for at least two months. Participation in a regulated market, however, is not always unfavorable, as involved firms not directly targeted by regulatory action appear to gain sizable risk premiums. Additional evidence suggests that, although there is no direct linear relationship between firm size and effect magnitude, large firms tend to be hurt more in the short term, while small firms suffer bigger declines in returns over a longer time period. The last chapter turns to global electricity sectors to examine the development of Demand Response (DR) programs, which have become popular means of addressing the sector's central market failure of pricing below marginal generation cost. DR programs incorporate demand signals into retail electricity rates, and have the potential to effectively and inexpensively improve grid reliability and increase end-use efficiency. However, DR faces many challenges, arguably the most important of which is a general lack of information among consumers regarding usage levels and existence of alternative providers and rate plans. Financial considerations, lack of access to technological infrastructure, and misaligned producer incentives also play an important role in DR's limited success.

  18. The regulating power market on the Nordic power exchange Nord Pool. An econometric analysis

    International Nuclear Information System (INIS)

    Skytte, K.

    1999-08-01

    What differentiates the structure of Nord Pool from other power exchanges around the world is the way the balance from the spot market is maintained until the actual, physical delivery takes place, via the regulating power market in Norway. This paper reveals the pattern of the prices on the regulating power market, by analysing the cost of being unable to fulfil the commitments made on the spot market. Some power producers with unpredictable fluctuations (e.g. wind) will need to buy regulation services. The disclosed pattern implies that these producers must pay a limited premium of readiness in addition to the spot price; this premium is independent of the amount of regulation. The level of the premium of readiness for down-regulation is shown to be strongly influenced by the level of the spot price. On the other hand, it is demonstrated that the premium for up-regulation is less correlated to the spot price. Furthermore, it is found that the amount of regulation affects the price of regulating power for up-regulation more strongly than it does for down-regulation. The disclosed cost of using the regulating power market is a quadratic function of the amount of regulation. This asymmetric cost may encourage bidders with fluctuating production to be more strategic in their way of bidding on the spot market. By using such strategies the extra costs (for example wind power) needed to counter unpredictable fluctuations may be limited. 12 refs

  19. 77 FR 38553 - Proposed Modification to Regulation Concerning the Use of Market Economy Input Prices in...

    Science.gov (United States)

    2012-06-28

    ... Regulation Concerning the Use of Market Economy Input Prices in Nonmarket Economy Proceedings AGENCY: Import... states that the Department normally will use the price that a nonmarket economy (``NME'') producer pays to a market economy supplier when a factor of production is purchased from a market economy supplier...

  20. 75 FR 61842 - Fair Credit Reporting Affiliate Marketing Regulations

    Science.gov (United States)

    2010-10-06

    ... DEPARTMENT OF THE TREASURY Office of Thrift Supervision Fair Credit Reporting Affiliate Marketing... concerning the following information collection. Title of Proposal: Fair Credit Reporting Affiliate Marketing... person from using certain information received from an affiliate to make a solicitation for marketing...

  1. Energy Flexibility Potential of Industrial Processes in the Regulating Power Market

    DEFF Research Database (Denmark)

    Ma, Zheng; Aabjerg Friis, Henrik Tønder; Gravers Mostrup, Christopher

    2017-01-01

    , and electric heating in replacement of conventional technologies. To enable the use of demand response, the consumers must have economical and practical incentives without loss of convenience. This study aims to investigate the demand-response market potential of a flexible industrial process in the current...... electricity market structure. The Danish West regulating power market is selected in this study with an ideal process simulation of an industrial roller press. By analysing market data, the value of flexible electricity consumption by the roller press in the regulating power market is demonstrated by an ideal...

  2. The impact of transport- and transaction-cost reductions on food markets in developing countries: evidence for tempered expectations for Burkina Faso

    NARCIS (Netherlands)

    Ruijs, A.J.W.; Schweigman, C.; Lutz, C.

    2004-01-01

    Reductions in transport and transaction costs are expected to have a major effect on the functioning of food markets in developing countries. For Burkina Faso, this is a relevant issue as it may have important consequences for the food markets in urban and rural deficit areas. A partial equilibrium

  3. The impact of transport- and transaction-cost reductions on food markets in developing countries : evidence for tempered expectations for Burkina Faso

    NARCIS (Netherlands)

    Ruijs, A.J.W.; Schweigman, C.; Lutz, C.H.M.

    2004-01-01

    Reductions in transport and transaction costs are expected to have a major effect on the functioning of food markets in developing countries. For Burkina Faso, this is a relevant issue as it may have important consequences for the food markets in urban and rural deficit areas. A partial equilibrium

  4. Why (and how) to regulate power exchanges in the EU market integration context?

    Energy Technology Data Exchange (ETDEWEB)

    Meeus, Leonardo, E-mail: leonardo.meeus@eui.e [Florence School of Regulation, Robert Schuman Centre for Advanced Studies, European University Institute, Via Boccaccio 151, Florence (Italy); Electrical Engineering Department (ESAT-ELECTA), KULeuven, Kasteelpark Arenberg 10, Heverlee (Belgium)

    2011-03-15

    The European Union (EU) market integration is leading to increasingly monopolistic electricity market infrastructures, which has opened a debate on the regulation of these so-called power exchanges. In this paper, we start by stating that there are two types of power exchanges in Europe, i.e. 'merchant' and 'cost-of-service regulated' power exchanges. We then discuss how regulation can be used to better align their incentives with the main power exchange tasks. We conclude that adopting the cost-of-service regulated model for all power exchanges in Europe could be counterproductive in the current context, but that regulation can help ensure that the benefits of the EU market integration materialize. Promising regulatory actions include tempering the reinforced market power of power exchanges, and quality-of-service regulation for the ongoing cooperation among power exchanges to organize trade across borders. - Research highlights: {yields} Market integration is leading to increasingly monopolistic electricity market infrastructures. {yields} Regulation can help tempering the market power of these so-called power exchanges in Europe. {yields} Cost-of-service regulation for all power exchanges could however be counterproductive. {yields} More promising is to subject cooperation among power exchanges to quality of service regulation.

  5. Why (and how) to regulate power exchanges in the EU market integration context?

    International Nuclear Information System (INIS)

    Meeus, Leonardo

    2011-01-01

    The European Union (EU) market integration is leading to increasingly monopolistic electricity market infrastructures, which has opened a debate on the regulation of these so-called power exchanges. In this paper, we start by stating that there are two types of power exchanges in Europe, i.e. 'merchant' and 'cost-of-service regulated' power exchanges. We then discuss how regulation can be used to better align their incentives with the main power exchange tasks. We conclude that adopting the cost-of-service regulated model for all power exchanges in Europe could be counterproductive in the current context, but that regulation can help ensure that the benefits of the EU market integration materialize. Promising regulatory actions include tempering the reinforced market power of power exchanges, and quality-of-service regulation for the ongoing cooperation among power exchanges to organize trade across borders. - Research highlights: → Market integration is leading to increasingly monopolistic electricity market infrastructures. → Regulation can help tempering the market power of these so-called power exchanges in Europe. → Cost-of-service regulation for all power exchanges could however be counterproductive. → More promising is to subject cooperation among power exchanges to quality of service regulation.

  6. The paradigm change in international natural gas markets and the impact on regulation

    International Nuclear Information System (INIS)

    Van der Linde, Coby; Correlje, Aad; De Jong, Jacques; Toenjes, Christoph

    2006-04-01

    CIEP was strongly involved in the preparation of the discussions on the regulation of gas markets at the World Gas Conference in Amsterdam, 6-9 June 2006. CIEP's new study on gas market regulation served as the starting note for the strategic panel discussion 'The art of regulation'. It combines a theoretical foundation for the discussion on gas market regulation with the outcomes of a series of workshops, which addressed gas market regulation in various parts of the world. In particular, the authors aimed at examining whether changing circumstances in international gas markets require adaptations in current regulatory regimes.The study highlights that the regulation of gas markets, made up of elements such as international agreements, licensing and permitting procedures, competition policy, consumer protection and network access regulation, needs to take the specific regional circumstances of the gas market in question into account. There is no 'one size fits all' solution that is applicable to all gas markets in order to bring about the investments necessary

  7. Regulation and Flexibility of the Croatian Labour Market

    OpenAIRE

    Vedran Sosic

    2004-01-01

    The Croatian Labor Code was significantly reformed in 2003 as a result of extensive negotiations lasting about two years. Proponents of the reform emphasized the supposed rigidity of the labor market, resulting from restrictive employment protection legislation, as a main rationale for the reform. Critics believed that the labor market is much more flexible than often thought due to inadequate enforcement of legislation. This study aims to assess the level of labor market dynamics by construc...

  8. The consumers' role in a de-regulated electricity market

    International Nuclear Information System (INIS)

    Bye, Torstein; Doehl, Oeystein; Halvorsen, Bente; Larsen, Bodil M.; Larsson, Jan; Nesbakken, Runa

    2001-01-01

    The electricity market is market characterized by large price variations. This may have many causes, such as large variation of demand, large differences in the operating costs of the utilities or large variation in precipitation. Price variations caused by the supply side of the market may be counterbalanced by reducing consumption when the price is high, for example by using other energy sources, or by increasing consumption when the price is low

  9. Competition policy and regulation in hydro-dominated electricity markets

    International Nuclear Information System (INIS)

    Rangel, Luiz Fernando

    2008-01-01

    This paper discusses the main competition issues that arise in electricity systems dominated by hydro generation, arguing that technological differences between hydro and thermal plants may allow hydropower producers to exert market power in different and subtler ways compared to thermal generators. The key for market power in hydro-based systems is the strategic allocation of a given amount of output across periods, rather than a straightforward reduction of total output. The paper examines the interaction between strategic hydro reservoir operation and transmission capacity constraints, and summarizes the implications of market power for system reliability. A review of recent relevant literature is included. Finally, possible interventions to mitigate market power are analysed

  10. Local Commune Administration as a Regulator of the Local Water Supply and Sewage Disposal Services Market

    OpenAIRE

    Małysko, Jacek

    2012-01-01

    In this article the author discusses problems related to the regulation of water and sewage disposal services market. In the beginning he describes the processes of water supply and sewage disposal taken by the local commune administration as a natural monopoly. Next he characterizes the structure of this market in Poland. Then he presents the role of local commune administration as a regulator. The author concludes by evaluating the existing Polish system of regulating wate...

  11. Papers of the CAMPUT 2003 educational conference : Markets in Transition : The changing face of regulation

    International Nuclear Information System (INIS)

    2003-01-01

    The North American energy landscape is evolving: markets are in transition and regulatory roles are shifting. Regulators, government policy makers, and industry representatives exchanged information concerning the changes facing regulatory agencies, industry and energy users. The eleven sessions of the conference were entitled: (1) the future of the regulator in a continental energy market, (2) gas markets in transition, (3) electricity markets in transition (including Regional Transmission Organization/Standard Market Design issues), (4) are open access markets the answer? (5) the changing face of regulation, what's up? (6) energy policy updates in British Columbia and Atlantic Canada, (7) Ontario electricity update and deregulation one year later, (8) northern issues, (9) intervener funding, (10) affiliate transactions, regulatory and business issues, and (11) cost of capital update. The conference featured 43 presentations, of which two were indexed separately for inclusion in the database. refs., tabs., figs

  12. Papers of the CAMPUT 2003 educational conference : Markets in Transition : The changing face of regulation

    International Nuclear Information System (INIS)

    2003-01-01

    The North American energy landscape is evolving: markets are in transition and regulatory roles are shifting. Regulators, government policy makers, and industry representatives exchanged information concerning the changes facing regulatory agencies, industry and energy users. The eleven sessions of the conference were entitled: (1) the future of the regulator in a continental energy market, (2) gas markets in transition, (3) electricity markets in transition (including Regional Transmission Organization/Standard Market Design issues), (4) are open access markets the answer? (5) the changing face of regulation, what's up? (6) energy policy updates in British Columbia and Atlantic Canada, (7) Ontario electricity update and deregulation one year later, (8) northern issues, (9) intervener funding, (10) affiliate transactions, regulatory and business issues, and (11) cost of capital update. The conference featured 43 presentations, of which two were indexed separately for inclusion in the database

  13. CHALLENGES OF FINANCIAL AUDIT - THE IMPACT OF INTRODUCING UNIQUE REGULATION OF FINANCIAL MARKETS IN ROMANIA

    Directory of Open Access Journals (Sweden)

    Mitica Pepi

    2013-07-01

    Full Text Available The theme of our research is related to the new type of relationship between financial audits (statutory and unique regulation of financial markets in Romania.The Romanian authorities have decided as from 2013 regulation of financial markets, capital market, insurance market and private pensions market to achieve by a single entity, this situation will also lead to a number of challenges in the relationship between the auditor and the new regulatory regime. The main elements of our study are: the relationship between the audit committee and regulatory authority; quality of financial reporting for financial market entities. The auditor plays an important role in financial markets because it certifies the financial statements in accordance with European Union practice . It is also interesting to note potential interference that can occur in single regulation between compliance audit and financial stability and return on investment between performance audit and financial markets.In this case, financial regulation can coexist with compliance audit. EU legislation recommends that the auditor discuss with the audit committee the quality and acceptability of the financial reporting process.This recommendation is what should constitute a possible consensus to be highly unlikely between audit committees would align auditors in financial reporting disputes with management financial entities. In this regard, auditors should identify the factors we consider important in determining the quality of financial reporting. .We conducted this research in an effort to identify the possible divergence between the type of regulations that can emit single regulatory authority and the audit process. New regulator will operate on two levels, issue general regulations apply to all three categories of financial markets, capital market, insurance market and private pensions market, but in the same time and in greater extent will issue specific regulations of each market in

  14. Market development in CEE between regulation and liberalisation

    International Nuclear Information System (INIS)

    Parthier, S.

    2002-01-01

    European energy markets are undergoing profound changes. These are characterised by privatisation, deregulation and intensified competition. The energy supply companies are tackling the task of adapting to a changing business environment which is calling for new strategies. This evolution affects also the energy markets of Central and Eastern Europe (CEE). The paper highlights the impact of this situation for the gas markets of CEE countries. It discusses three major aspects: the introduction of market prices as requirement for successful market development, strategies for gas companies to master the upcoming challenges and finally main factors influencing the development of the gas markets. Currently, different issues are coming up in CEE countries which will play a major role in the development of the gas industries of these countries. While preparing for entering the EU, CEE energy markets have to develop an appropriate regulatory framework for the time before and after the accession to the EU. This concerns especially the introduction of market prices. In order to tackle successfully the upcoming competition gas companies have to increase efficiency, particularly by increasing sales activities. Economically efficient capital investments are necessary to develop existing market potential. With the further increase of gas demand and cross-border gas trading, more gas will come from the western direction. This development will create good opportunities for successful cooperation between central and western European gas companies. Appropriate strategic investors can support market development while bringing in needed capital for the development of the infrastructure, know-how and expertise in sales and marketing activities and finally experience in facing inter fuel and gas to gas competition. (author)

  15. Federal Trade Commission's authority to regulate marketing to children: deceptive vs. unfair rulemaking.

    Science.gov (United States)

    Pomeranz, Jennifer L

    2011-01-01

    Food and beverage marketing directed at children is of increasing concern to the public health and legal communities. The new administration at the Federal Trade Commission and abundant science on the topic make it a particularly opportune time for the government to reconsider regulating marketing directed at youth. This Article analyzes the Commission's authority to regulate food and beverage marketing directed at children under its jurisdiction over unfair and deceptive acts and practices to determine which avenue is most viable. The author finds that the Federal Trade Commission has the authority to regulate deceptive marketing practices directed at vulnerable populations. Although the Commission can issue individual orders, its remedial power to initiate rules would better address the pervasiveness of modern marketing practices. The Commission does not currently have the power to regulate unfair marketing to children; however, even if Congress reinstated this authority, the Commission's authority over deceptive marketing may be preferable to regulate these practices. Deceptive communications are not protected by the First Amendment and the deceptive standard matches the science associated with marketing to children. The Federal Trade Commission has the authority to initiate rulemaking in the realm of food and beverage marketing to children as deceptive communications in interstate commerce, in violation of the Federal Trade Commission Act. However, to effectuate this process, Congress would need to grant the Commission the authority to do so under the Administrative Procedures Act.

  16. Developing power markets - Development of market place for meeting the demand - Case India, in transition from regulated to competitive structure

    Energy Technology Data Exchange (ETDEWEB)

    Kumar, Pranay; Sarkar, Prabhajit Kumar

    2010-09-15

    Power Market players of developing countries with supply deficit are exposed to a unique combination of price risk and quantity risk which is not the case with developed nations that have taken path of liberalization to open up their power markets. India has one of the largest generation capacities in the world, yet till recently the Indian Power sector was highly regulated. However, the last decade has witnessed many initiatives so as to make the sector market oriented. This paper provides opportunity for developing countries to learn from Indian experience of introducing competition in the power sector.

  17. Credit Rating Agencies, Financial Regulations and the Capital Markets

    NARCIS (Netherlands)

    K. Shahzad (Khurram)

    2013-01-01

    textabstractThis thesis studies the role of credit rating agencies (CRAs) in capital markets, and the effects of two important regulatory decisions that are taken to improve the quality of information available to the capital markets. In particular, this thesis examines a) the importance of credit

  18. Stochastic Optimal Regulation Service Strategy for a Wind Farm Participating in the Electricity Market

    DEFF Research Database (Denmark)

    Zhang, Baohua; Hu, Weihao; Chen, Zhe

    2015-01-01

    in the stochastic optimization to deal with the uncertainty of the up regulation price and the up regulation activation of the power system.The Danish short-term electricity market and a wind farm in western Denmark are chosen to evaluate the effect of the proposed strategy. Simulation results showthe proposed......As modern wind farmshave the ability to provideregulation service for the power system, wind power plant operators may be motivated to participate in the regulating market to maximize their profit.In this paper, anoptimal regulation servicestrategy for a wind farm to participate...... strategy can increase the revenue of wind farms by leavinga certain amount of wind powerfor regulation service....

  19. 75 FR 33501 - Definitions for Regulations Affecting All Savings Associations; Money Market Deposit Accounts

    Science.gov (United States)

    2010-06-14

    ...] RIN 1550-AC40 Definitions for Regulations Affecting All Savings Associations; Money Market Deposit... Supervision is amending its regulations to eliminate restrictions on certain kinds of transfers from money... for savings deposit, Regulation D lists several types of savings deposit accounts, including Money...

  20. Testing optimal punishment mechanisms under price regulation : the case of the retail market for gasoline

    International Nuclear Information System (INIS)

    Gagne, R.; Versaevel, B.

    2003-01-01

    The effects of a price floor on price wars in the retail market for gasoline were analyzed. The authors selected a theoretical model which assumed a Bertrand oligopoly supergame, where firms initially collude by charging the monopolistic price. Once a deviation from this strategy is detected by the firms, a switch to a lower price is made in what can be called a punishment phase (price war), before returning to collusive prices. A natural experiment for the testing of the model was provided by the introduction of a price floor regulation in the Quebec retail market for gasoline in 1996. A Markov Switching Model with two latent states was used to simultaneously identify the periods of price-collusion/price war, and also to estimate the parameters which characterized each state. The results indicated that the intensity of price wars was reduced by the introduction of the price floor, but the expected duration of those wars was raised. 14 refs., 5 tabs., 1 fig

  1. Testing optimal punishment mechanisms under price regulation : the case of the retail market for gasoline

    Energy Technology Data Exchange (ETDEWEB)

    Gagne, R. [Montreal Univ., Quebec, PQ (Canada). Ecole des Hautes Etudes Commerciales; Van Norden, S. [Montreal Univ., Quebec, PQ (Canada). Ecole des Hautes Etudes Commerciales]|[Centre for Interuniversity Research and Analysis on Organizations, Montreal, PQ (Canada); Versaevel, B.

    2003-09-01

    The effects of a price floor on price wars in the retail market for gasoline were analyzed. The authors selected a theoretical model which assumed a Bertrand oligopoly supergame, where firms initially collude by charging the monopolistic price. Once a deviation from this strategy is detected by the firms, a switch to a lower price is made in what can be called a punishment phase (price war), before returning to collusive prices. A natural experiment for the testing of the model was provided by the introduction of a price floor regulation in the Quebec retail market for gasoline in 1996. A Markov Switching Model with two latent states was used to simultaneously identify the periods of price-collusion/price war, and also to estimate the parameters which characterized each state. The results indicated that the intensity of price wars was reduced by the introduction of the price floor, but the expected duration of those wars was raised. 14 refs., 5 tabs., 1 fig.

  2. Regulated Medicare Advantage And Marketplace Individual Health Insurance Markets Rely On Insurer Competition.

    Science.gov (United States)

    Frank, Richard G; McGuire, Thomas G

    2017-09-01

    Two important individual health insurance markets-Medicare Advantage and the Marketplaces-are tightly regulated but rely on competition among insurers to supply and price health insurance products. Many local health insurance markets have little competition, which increases prices to consumers. Furthermore, both markets are highly subsidized in ways that can exacerbate the impact of market power-that is, the ability to set price above cost-on health insurance prices. Policy makers need to foster robust competition in both sectors and avoid designing subsidies that make the market-power problem worse. Project HOPE—The People-to-People Health Foundation, Inc.

  3. Structure, control and regulation of the formal market for medicinal ...

    African Journals Online (AJOL)

    There are informal and formal markets for medicinal plants' products in Nigeria. ... It is relatively new and underdeveloped. ... physical and facilitating functions while the conduct was described in terms of pricing and promotional strategies.

  4. Structure, control and regulation of the formal market for medicinal plants' products in Nigeria.

    Science.gov (United States)

    Oguntade, Adegboyega E; Oluwalana, Isaac B

    2011-01-01

    There are informal and formal markets for medicinal plants' products in Nigeria. The formal market is subject to the national regulatory framework for Food and Drug Administration and Control. It is relatively new and underdeveloped. This study was designed to appraise this market with special emphasis on the market participants, market structure, marketing functions performed, conduct of sellers in the market and; standards and regulations to which the market is subject. Information used for this study was collected through personal interviews and interactions with key participants in the market; especially the officials of regulatory agency. The market structure was analysed in terms of the share of market controlled by participants and product types. Concentration Ratios (CR2 and CR4) were used to assess the market share. Marketing functions being performed were described in terms of the exchange, physical and facilitating functions while the conduct was described in terms of pricing and promotional strategies. The regulatory framework under which the market operates was appraised. The market was highly concentrated with a CR2 and CR4 of 58.5% and 80.8 %; respectively. Imported products accounted for only 12.3% of the market. The predominant modes of presentation of the product were capsule (41.6%) and liquid (36.2%). About 20.77% of the products were classified as multivitamins, 13.85% were antibiotics while 10.77% addressed sexual dysfunctional problems. These products were regulated under the Food and Drug Administration and Control (NAFDAC) decrees, 1993-1999. Only 2.3% of the products have received full registration status while the others were only listed.

  5. [European Marketing Authorisation: a long process. Experiences of small biotech companies with the ATMP regulation].

    Science.gov (United States)

    Buljovčić, Z

    2011-07-01

    On 30 December 2008, the Regulation (EC) 1394/2007 on advanced therapy medicinal products (ATMPs) entered into force. Herewith the first EU-wide regulatory framework for ATMPs was established. It requires a central marketing authorisation application to the EMA (European Medicinal Agency). This new framework especially changes the code of regulatory practice for tissue engineered products (TEPs), as no registration procedure had been previously required for autologous TEPs. This also meant that no clinical proof of efficacy achieved by a pivotal clinical trial was necessary. Difficulties and their background as well as the vast requirements for product development that have to be addressed by small companies within a very short time frame are presented. Hereby, it is obvious that regulatory experience which is required to identify and implement the resulting implications was not in place yet and still had to be established. The lack of regulatory experience also resulted in difficulties with scientific advice preparation, expectations toward regulatory agencies, consultants, and transformation of regulatory requirements. Addressing the regulatory requirements within the transition period is even more difficult for entrepreneurs with products which are assigned for indications resulting in complex challenges to the trial design. Due to the enormous time pressure to generate data and due to the implied financial pressure, different adaptation strategies are evolving. In Germany the "hospital exemption" according to §4b AMG (German Medicinal Products Law) is of major importance. A reorientation toward acellular products and a slow down in development of new ATMP products is expected.

  6. A Historical Overview of the Regulation of Market Abuse in South Africa

    Directory of Open Access Journals (Sweden)

    Howard Chitimira

    2014-08-01

    Full Text Available In an early attempt to combat market abuse in the South African financial markets, legislation such as the Companies Act, the Financial Markets Control Act and the Stock Exchanges Control Act were enacted. However, these Acts failed to effectively curb market abuse activities that were allegedly rife in the financial markets. Consequently, the Insider Trading Act was enacted and came into effect on 17 January 1999. While the introduction of the Insider Trading Act brought some confidence in the financial markets, market abuse activities were still not extinguished. The provisions of the Insider Trading Act were to some extent inadequate and ineffectively implemented. Eventually, the Securities Services Act was enacted to repeal all the flawed provisions of the Insider Trading Act. Notwithstanding these efforts on the part of the legislature, more may still need to be done to increase the number of convictions and settlements in cases involving market abuse in South Africa. It is against this background that a historical overview analysis of the regulation of market abuse is carried out in this article to expose the flaws that were previously embedded in the South African market abuse laws prior to 2004. This is done to raise awareness of the situation on the part of the relevant stakeholders, as they consider whether such flaws were adequately resolved or subsequently re-introduced under the Securities Services Act and the Financial Markets Act. To this end, the article firstly discusses the historical development and regulation of market manipulation prior to 2004. Secondly, the regulation and enforcement of insider trading legislation prior to 2004 are examined. Moreover, where possible, certain flaws of the previous market abuse laws that were re-incorporated into the current South African market abuse legislation are isolated and recommendations are made in that regard.

  7. Methods to Regulate Unbundled Transmission and Distribution Business on Electricity Markets

    International Nuclear Information System (INIS)

    Forsberg, Kaj; Fritz, Peter

    2003-11-01

    The regulation of distribution utilities is evolving from the traditional approach based on a cost of service or rate of return remuneration, to ways of regulation more specifically focused on providing incentives for improving efficiency, known as performance-based regulation or ratemaking. Modern regulation systems are also, to a higher degree than previously, intended to simulate competitive market conditions. The Market Design 2003-conference gathered people from 18 countries to discuss 'Methods to regulate unbundled transmission and distribution business on electricity markets'. Speakers from nine different countries and backgrounds (academics, industry and regulatory) presented their experiences and most recent works on how to make the regulation of unbundled distribution business as accurate as possible. This paper does not claim to be a fully representative summary of everything that was presented or discussed during the conference. Rather, it is a purposely restricted document where we focus on a few central themes and experiences from different countries

  8. Methods to Regulate Unbundled Transmission and Distribution Business on Electricity Markets

    Energy Technology Data Exchange (ETDEWEB)

    Forsberg, Kaj; Fritz, Peter

    2003-11-01

    The regulation of distribution utilities is evolving from the traditional approach based on a cost of service or rate of return remuneration, to ways of regulation more specifically focused on providing incentives for improving efficiency, known as performance-based regulation or ratemaking. Modern regulation systems are also, to a higher degree than previously, intended to simulate competitive market conditions. The Market Design 2003-conference gathered people from 18 countries to discuss 'Methods to regulate unbundled transmission and distribution business on electricity markets'. Speakers from nine different countries and backgrounds (academics, industry and regulatory) presented their experiences and most recent works on how to make the regulation of unbundled distribution business as accurate as possible. This paper does not claim to be a fully representative summary of everything that was presented or discussed during the conference. Rather, it is a purposely restricted document where we focus on a few central themes and experiences from different countries.

  9. Challenges of the growing African cement market – environmental issues, regulative framework, and quality infrastructure requirements

    Directory of Open Access Journals (Sweden)

    Schmidt Wolfram

    2018-01-01

    Full Text Available The African cement, concrete and construction business is growing at rapid pace. The cement sales are expected to grow rapidly until 2050. The number of newly built cement plants increases dramatically and in addition more cements are being imported from outside the continent, e.g. from Turkey, Pakistan, Indonesia, and China, driven by overcapacities in the countries of origin. This causes a high number of potentials and challenges at the same time. Newly built cement plants can operate directly at best technological state of the art and thus incorporate more sustainable technologies as well as produce new and more sustainable products such as cements blended with sustainable supplementary cementitious materials such as calcined clays, and industrial or agricultural by products. At the same time the new variety of binding agent as well as the international imports, which are driven by price considerations, make the cement market prone to quality scatter. This puts pressure on the quality control regulations and institutions to ensure safety of construction, healthy application, and environmental safety for the population. The paper presents possible solutions to build up the rapidly increasing African cement production more sustainably than in the rest of the world as well as the related challenges and obstacles that need to be overcome. Based on experiences with a series of pan-African cement testing laboratory proficiency schemes conclusions are made on technical, regulative and political level.

  10. THE CONTRADICTIONS OF THE FORMATION OF FUNCTIONAL AND TARGET REGULATION OF THE STOCK MARKET OF UKRAINE

    Directory of Open Access Journals (Sweden)

    A. Kalach

    2013-07-01

    Full Text Available The characteristics of formation of the inversion type of the stock market and its contradictions were investigated, the necessity of transition to a functional-target regulation of the stock market was proved the ways of optimization of the institutional system by integrating the functions of regulatory authorities were proposed.

  11. Can NGOs regulate medicines markets? Social enterprise in wholesaling, and access to essential medicines.

    Science.gov (United States)

    Mackintosh, Maureen; Chaudhuri, Sudip; Mujinja, Phares Gm

    2011-02-28

    Citizens of high income countries rely on highly regulated medicines markets. However low income countries' impoverished populations generally struggle for access to essential medicines through out-of-pocket purchase on poorly regulated markets; results include ill health, drug resistance and further impoverishment. While the role of health facilities owned by non-governmental organisations (NGOs) in low income countries is well documented, national and international wholesaling of essential medicines by NGOs is largely unstudied. This article describes and assesses the activity of NGOs and social enterprise in essential medicines wholesaling. The article is based on a set of interviews conducted in 2006-8 with trading NGOs and social enterprises operating in Europe, India and Tanzania. The analysis applies socio-legal and economic perspectives on social enterprise and market regulation. Trading NGOs can resist the perverse incentives inherent in medicines wholesaling and improve access to essential medicines; they can also, in definable circumstances, exercise a broader regulatory influence over their markets by influencing the behaviour of competitors. We explore reasons for success and failure of social enterprise in essential medicines wholesaling, including commercial manufacturers' market response; social enterprise traders' own market strategies; and patterns of market advantage, market segmentation and subsidy generated by donors. We conclude that, in the absence of effective governmental activity and regulation, social enterprise wholesaling can improve access to good quality essential medicines. This role should be valued and where appropriate supported in international health policy design. NGO regulatory impact can complement but should not replace state action.

  12. Characteristics of the prices of operating reserves and regulation services in competitive electricity markets

    International Nuclear Information System (INIS)

    Wang Peng; Zareipour, Hamidreza; Rosehart, William D.

    2011-01-01

    In this paper, characteristics of the prices of reserves and regulation services in the Ontario, New York and ERCOT electricity markets are studied. More specifically, price variability, price jumps, long-range correlation, and non-linearity of the prices are analyzed using the available measures in the literature. For the Ontario electricity market, the prices of 10-min spinning, 10-min non-spinning, and 30-min operating reserves for the period May 1, 2002 to December 31, 2007 are analyzed. For the New York market, prices of the same reserves plus regulation service are studied for the period February 5, 2005 to December 31, 2008. For the ERCOT market, we analyze the prices of responsive reserve, regulation up and regulation down services, for the period January 1, 2005 to December 31, 2009. The studied characteristics of operating reserve and regulation prices are also compared with those of energy prices. The findings of this paper show that the studied reserve and regulation prices feature extreme volatility, more frequent jumps and spikes, different peak price occurrence time, and lower predictability, compared to the energy prices. - Research highlights: → We examine various statistical characteristics of reserve and regulation prices. → We compare characteristics of reserve and regulation and energy prices. → Reserve and regulation prices feature different patterns from energy prices. → Reserve and regulation prices are more dispersive and volatile than energy price.

  13. Brightening up: the effect of the Physician Payment Sunshine Act on existing regulation of pharmaceutical marketing.

    Science.gov (United States)

    Gorlach, Igor; Pham-Kanter, Genevieve

    2013-01-01

    With the passage of the Physician Payment Sunshine Act as part of the federal health care reform law, pharmaceutical manufacturers are now required to disclose a wide range of payments made by manufacturers to physicians. We review current state regulation of pharmaceutical marketing and consider how the federal sunshine provision will affect existing marketing regulation. We analyze the legal and practical implications of the Physician Payment Sunshine Act. © 2013 American Society of Law, Medicine & Ethics, Inc.

  14. Retail gas markets - a case of regulated deregulation?

    International Nuclear Information System (INIS)

    Wood, T.

    2001-01-01

    While much has been said recently on the introduction of full retail contestability in Australia's gas markets, the process is far from over. The General Manager (Retail) with Origin Energy-and a new addition to the Australian Gas Association Board-provides an overview of the process to date, and how it might progress in the future. He concluded that in Australia, the retail gas market is relatively small and the processes initiated to achieve full retail competition are still largely fragmented across jurisdictions. These factors have potential to generate costs which could severely dent, if not exceed the anticipated benefit of competition

  15. The Radiation Oncology Job Market: The Economics and Policy of Workforce Regulation

    Energy Technology Data Exchange (ETDEWEB)

    Falit, Benjamin P., E-mail: bfalit2@allianceoncology.com [Pacific Cancer Institute, Wailuku, Hawaii (United States); Pan, Hubert Y.; Smith, Benjamin D. [MD Anderson Cancer Center, Houston, Texas (United States); Alexander, Brian M. [Dana Farber Cancer Institute, Boston, Massachusetts (United States); Zietman, Anthony L. [Massachusetts General Hospital, Boston, Massachusetts (United States)

    2016-11-01

    Examinations of the US radiation oncology workforce offer inconsistent conclusions, but recent data raise significant concerns about an oversupply of physicians. Despite these concerns, residency slots continue to expand at an unprecedented pace. Employed radiation oncologists and professional corporations with weak contracts or loose ties to hospital administrators would be expected to suffer the greatest harm from an oversupply. The reduced cost of labor, however, would be expected to increase profitability for equipment owners, technology vendors, and entrenched professional groups. Policymakers must recognize that the number of practicing radiation oncologists is a poor surrogate for clinical capacity. There is likely to be significant opportunity to augment capacity without increasing the number of radiation oncologists by improving clinic efficiency and offering targeted incentives for geographic redistribution. Payment policy changes significantly threaten radiation oncologists' income, which may encourage physicians to care for greater patient loads, thereby obviating more personnel. Furthermore, the implementation of alternative payment models such as Medicare's Oncology Care Model threatens to decrease both the utilization and price of radiation therapy by turning referring providers into cost-conscious consumers. Medicare funds the vast majority of graduate medical education, but the extent to which the expansion in radiation oncology residency slots has been externally funded is unclear. Excess physician capacity carries a significant risk of harm to society by suboptimally allocating intellectual resources and creating comparative shortages in other, more needed disciplines. There are practical concerns associated with a market-based solution in which medical students self-regulate according to job availability, but antitrust law would likely forbid collaborative self-regulation that purports to restrict supply. Because Congress is unlikely

  16. The Radiation Oncology Job Market: The Economics and Policy of Workforce Regulation

    International Nuclear Information System (INIS)

    Falit, Benjamin P.; Pan, Hubert Y.; Smith, Benjamin D.; Alexander, Brian M.; Zietman, Anthony L.

    2016-01-01

    Examinations of the US radiation oncology workforce offer inconsistent conclusions, but recent data raise significant concerns about an oversupply of physicians. Despite these concerns, residency slots continue to expand at an unprecedented pace. Employed radiation oncologists and professional corporations with weak contracts or loose ties to hospital administrators would be expected to suffer the greatest harm from an oversupply. The reduced cost of labor, however, would be expected to increase profitability for equipment owners, technology vendors, and entrenched professional groups. Policymakers must recognize that the number of practicing radiation oncologists is a poor surrogate for clinical capacity. There is likely to be significant opportunity to augment capacity without increasing the number of radiation oncologists by improving clinic efficiency and offering targeted incentives for geographic redistribution. Payment policy changes significantly threaten radiation oncologists' income, which may encourage physicians to care for greater patient loads, thereby obviating more personnel. Furthermore, the implementation of alternative payment models such as Medicare's Oncology Care Model threatens to decrease both the utilization and price of radiation therapy by turning referring providers into cost-conscious consumers. Medicare funds the vast majority of graduate medical education, but the extent to which the expansion in radiation oncology residency slots has been externally funded is unclear. Excess physician capacity carries a significant risk of harm to society by suboptimally allocating intellectual resources and creating comparative shortages in other, more needed disciplines. There are practical concerns associated with a market-based solution in which medical students self-regulate according to job availability, but antitrust law would likely forbid collaborative self-regulation that purports to restrict supply. Because Congress is unlikely to create

  17. The role of power exchanges for the creation of a single European electricity market: market design and market regulation

    International Nuclear Information System (INIS)

    Boisseleau, F.

    2004-01-01

    The electricity sector worldwide is undergoing a fundamental transformation of its institutional structure as a consequence of the complex interactions of political, economic and technological forces. The way the industry is organized is changing from vertically integrated monopolies to unbundled structures that favor market mechanisms. This process in Europe, known as the liberalization process, has had a wide impact on the European electricity industry. The focus of this dissertation is an analysis of the role of electricity power exchanges in the recently liberalized electricity markets of Europe. In the context of creating a competitive electricity market at a European level, the key questions considered are the functioning of these power exchanges with respect to electricity characteristics, market design and regulatory framework. In Europe, very little attention has been paid to the role of these new marketplaces and to the issue of market design in general. Hence the main purpose of this work was to analyze how these marketplaces facilitate the trading of electricity and the role they can play in the construction of a pan-European competitive electricity market. An analysis of power exchange requires taking into account the 'double-duality' of such institutions. One, power exchanges are both a market and an institution. As a market they facilitate the trading of electricity and determine an equilibrium price. As an institution power exchanges have their own objectives and constraints, and play a role in the market design of the overall electricity market. Two, the relationship between electricity power exchanges and liberalization is neither linear nor one way: liberalization encourages the birth of such marketplaces yet marketplaces are more than the results of such process, they are also a driving force of the liberalization process. This thesis is divided into three parts. The current situation in Europe and different existing theoretical approaches in

  18. Protectionism or Legitimate Regulations: What can Trade Partners Expect from the New US Food Safety Regime?

    OpenAIRE

    Nakuja, T.; Kerr, William A.

    2013-01-01

    In January 2011, the US passed the Food Safety Modernization Act (FSMA) which represents a major legislative initiative to revise and strengthen the regulatory regime pertaining to foodborne illness and contamination. The tightening of the regulatory regime was justified on the basis of a number of high-profile foodborne disease incidents, which are claimed to have undermined public confidence in the US food safety system. While tightening food safety regulations inevitably increase barriers ...

  19. Integration of REDD into the international carbon market: Implications for future commitments and market regulation

    OpenAIRE

    Dixon, Alistair; Anger, Niels; Holden, Rachel; Livengood, Erich

    2008-01-01

    Integrating reduced emissions from deforestation and degradation (REDD) into a post-Kyoto intergovernmental carbon market could significantly decrease global carbon prices and the costs of mitigating climate change. We investigate this impact by simulating the impact of the supply of REDD units on the international carbon market in 2020 under unlimited and restricted exchange conditions. We find restricting supply or demand of REDD credits reduces such price impacts, but comes at the cost of ...

  20. Biomass power generation in competitive markets - The impact of instruments and regulations

    International Nuclear Information System (INIS)

    Ackermann, Thomas; Soeder, Lennart

    1999-01-01

    This paper presents and briefly evaluates the most important existing market instruments and market schemes which support the development of renewable energy generation as well as the impact of market regulations on the development of biomass power generation. The evaluation of the existing instruments focuses on the incentives provided by the various instruments to reduce production costs. The instruments and schemes are: Feed-in Tariffs, Net Metering, Bidding Process, Fixed Quotas, Green Certificate Trading, Green Power Exchange, Green Pricing. Feed-in tariffs and net metering are important instruments to get the different technologies 'off the ground', however, they can only be considered an interim solution as they do not necessarily lead to cost reduction. A bidding process is one way to achieve these cost reductions, but high transaction costs will support the development of large renewable energy projects, which is not always the desired effect. Fixed quotas combined with green certificate trading or a power exchange in combination with Green Pricing seem to lead to similar costs reduction, however, so far there is only limited experience with such instruments. The analysis of the impact of market regulations focuses on international electricity markets with a power exchange. Such markets exist, for example, in Scandinavia, England and Wales, Australia, New Zealand and California. The analysis showed that new distributed generation, for example based on biomass, faces significant market barriers. Furthermore, distributed generation is not treated equally within the market regulations compared to large-scale power generation

  1. Regulating financial markets: Costs and trade-offs

    NARCIS (Netherlands)

    Górnicka, L.A.

    2015-01-01

    This thesis studies the interactions between the institutional design of financial systems, and the financial agents that regulatory institutions supervise. It explores the channels through which financial regulation affects financial agents’ lending, funding, and risk-taking decisions. By

  2. Inside the black box: incentive regulation and incentive channeling on energy markets

    NARCIS (Netherlands)

    K. Heine (Klaus)

    2013-01-01

    textabstractThis paper aims to achieve more insight into the complex interplay between the "external" market regulations and "internal" regulations (corporate governance) of energy firms. In recent years, many countries have deregulated the incumbent energy monopolies and have introduced new modes

  3. Marketing of food and beverage in Brazil: scientific literature review on regulation and self-regulation of advertisements

    OpenAIRE

    Aline Kassahara; Flavia Mori Sarti

    2017-01-01

    The effects of marketing strategies for promotion of foods and beverages have been investigated due to its potential impacts on populations’ food choices, particularly among children and adolescents. The paper presents an academic literature review on regulation and self-regulation of food and beverage advertisements in Brazil, based on search performed in electronic databases. Majority of studies were based on law analysis or qualitative study of advertisements. There are sufficient evidence...

  4. Determinants of Renewable Energy Innovation: Environmental Policies vs. Market Regulation

    International Nuclear Information System (INIS)

    Vona, Francesco; Nesta, Lionel; Nicolli, Francesco

    2012-02-01

    This paper carries out a comprehensive analysis of renewable energy innovations considering four mechanisms suggested by innovation models: 1. policy-inducement; 2. market structure; 3. demand and social cohesion- mainly proxied by income inequality; 4. characteristics of country knowledge base. For OECD countries and years 1970-2005, we build a unique dataset containing time-varying information on quality-adjusted patent production in renewable energy, the latter being a function of environmental policies, green R and D, entry barriers, knowledge stock, knowledge diversity and income inequality. We develop count data models using the Generalized Method of Moments (GMM) to account for endogeneity of policy support. Our synthetic policy index positively affects innovations especially in countries with deregulated energy markets and low entry barriers. The effect of entry barriers and inequality is negative and of similar magnitude as that of policy. Product market liberalization positively affects green patent generation, especially so when ambitious policies are adopted, when the initial level of public R and D expenditures and when the initial share of distributed energy generation is high. Our results are robust to alternative specifications, to the inclusion of technology-specific effects and to the use of quality-adjusted patents as dependent variables. In the latter case, the estimated effect of lowering entry barriers and of knowledge diversity almost double on citation count relatively to patent count. (authors)

  5. Obesity and industry self-regulation of food and beverage marketing: a literature review.

    Science.gov (United States)

    Ronit, K; Jensen, J D

    2014-07-01

    Obesity is a growing concern at national and international levels, and it is increasingly recognised that the industry has a role in and hence needs to be involved in halting the obesity epidemic. The objective of this study is to describe, analyse and evaluate research on industry self-regulation regarding food and beverage marketing and nutrition labelling. Five databases were searched for combinations of the search terms-obesity, nutrition, food, beverages, industry, self-regulation, labelling, advertising and marketing-and papers were selected on the basis of paper titles and, subsequently, on the basis of abstracts. Of the 4978 identified publications, 22 were included in the final review. The studies show that commitments in industry self-regulation schemes tend to be relatively vague and permissive, that the measurable effects of the self-regulations tend to be relatively small and that some extent of public regulation may catalyse the effectiveness of industry self-regulation. Although the reviewed studies vary in terms of analytic units and methods applied, they generally stress an ineffectiveness of existing self-regulation schemes. Food industry self-regulation in relation to obesity prevention is an emerging field of research, and further research is needed in such schemes' definitions of regulatory standards, their monitoring and sanctioning mechanisms, and their interactions with public regulation, if industry self-regulation of marketing behaviour is to become an effective and credible approach.

  6. Market effects of environmental regulation: coal, railroads, and the 1990 Clean Air Act

    Energy Technology Data Exchange (ETDEWEB)

    Busse, M.R.; Keohane, N.O. [University of California Berkeley, Berkeley, CA (United States)

    2007-01-01

    Many environmental regulations encourage the use of 'clean' inputs. When the suppliers of such an input have market power, environmental regulation will affect not only the quantity of the input used but also its price. We investigate the effect of the Title IV emissions trading program for sulfur dioxide on the market for low-sulfur coal. We find that the two railroads transporting coal were able to price discriminate on the basis of environmental regulation and geographic location. Delivered prices rose for plants in the trading program relative to other plants, and by more at plants near a low-sulfur coal source.

  7. The Spanish gasoline market: From ceiling regulation to open market pricing

    International Nuclear Information System (INIS)

    Contin, I.; Correlje, A.; Huerta, E.

    1999-01-01

    This paper examines the evolution of the Spanish gasoline market from the abolition of the state oil monopoly (January 1993) to complete liberalization (October 1998). With the restructuring of the Spanish oil sector during the 1980s and early 1990s, a highly concentrated oligopoly emerged in the automotive fuels market. A system of price ceilings replaced the state administered prices in July 1990. Since then, new domestic and foreign operators have entered the market, particularly along the coast, near import terminals. Prices went up and then declined. These developments can be explained by an interplay of factors such as: the gradual decline in co-operation among the Spanish firms; the loss of market share of the largest of these, Repsol; the entry of independent operators and supermarkets; and the impact of the ceiling price system. By mid-1998 this system was abolished as the government considered it an impediment to further market liberalization. However, some crucial barriers to the entry of new suppliers remain

  8. Dialectics of public and market regulation of a region and municipality socio-economic development

    Directory of Open Access Journals (Sweden)

    Aleksandr Ivanovich Tatarkin

    2014-03-01

    Full Text Available Motives of improving public regulation influence to socio-economic and social processes, increasing quality and effectiveness of public (PR and market (MR regulators, their optimal and flexible cooperation were examined in the article. The essence and content of public-legal regulators (PLR in the sustainable and balanced development of territories, regions and country as a whole was reviewed. The PLR was classified by criteria of the “scale” of their regulation influence, regulation methods and consequences. Special attention was paid to the quality of PLR of federal and intergovernmental relations at the regional and municipal levels. Recommendations to improve the effectiveness of public and market regulators in regional and territorial development were suggested.

  9. Innovation in energy networks. A study on the changing relation between regulation, technology and market in liberalized energy markets

    International Nuclear Information System (INIS)

    Kuenneke, R.W.; Bouwmans, I.; Kling, W.L.; Slootweg, J.G.; Stout, H.D.; De Vries, L.J.; Van Poelje, H.; Wolters, M.

    2001-10-01

    The purpose of this study is to contribute to the development a view on the future of the energy infrastructure for the next 10-15 years, including the related regulation, focusing on the strategic options for development of networks. Attention is paid to (1) planning concepts (to what extent should existing planning concepts be revised as a result of liberalization and technical innovation); and (2) positioning of networks (what are the consequences of the separation of energy markets in commercial and regulated sectors for the development of the energy sector) [nl

  10. COMMODITY MARKET REGULATION: EXPORTING COUNTRIES VERSUS IMPORTING COUNTRIES

    OpenAIRE

    Souza, Leonardo Silveira

    2012-01-01

    The high in commodity prices in the international market in the last decade, tensions escalated between exporting and importing commodities countries, the extent of having their demands and pressures discussed in the main international organizations, especially in the G20. As altas nas cotações das commodities no mercado internacional na última década acirraram as tensões entre países exportadores e importadores de commodities, a ponto de terem suas reivindicações e pressões debatidas no...

  11. The role of government in a competitive power market : strategic behaviors and regulation

    Energy Technology Data Exchange (ETDEWEB)

    Kim, N.Y. [Korea Energy Economics Institute, Euiwang (Korea)

    2001-12-01

    Restructuring in the Korean power industry has fundamentally changed the role of government. The role of government in a new environment may include : (1) promoting competition (2) prohibiting collusion or unfair trade practices (3) securing uninterrupted power supply (4) providing universal services to consumers (5) implementing appropriate price regulation. Focusing on the first two issues, this report has analyzed anti-competitive strategic behaviors and an impact of market power and tried to provide regulatory guidelines. This report surveyed three types of theoretical models analyzing a bidding behavior in an electric power market. The Cournot model is applied to the Korean electricity market. The following policy implications are derived. (1) The Cournot-Nash equilibrium price can be regarded as a threshold in market surveillance. (2) Had the fossil stations been divided among six instead of five companies, then market power would have been weakened in a reasonable degree. This finding also renders some implications with respect to business permission, divestiture, and merger. Among those, it is argued that a large new entrant rather than small IPPs contributes to increasing competition and lowering market power. (3) Increase in responsiveness of final demand to wholesale price fluctuation is an important factor to lower the Cournot equilibrium price and so market power. Therefore, appropriate regulatory system should be arranged to make power demand more elastic. (4) Activating contract markets such as CfD and introducing the capacity credit market can greatly help to lower market power. (author). 36 refs., 26 figs., 4 tabs.

  12. Forbearance, Regulation, and Market Power in Natural Gas Storage: The Case of Ontario

    Energy Technology Data Exchange (ETDEWEB)

    Brown, D.; Ware, R.; Wetston, H.

    2007-07-01

    In late 2006 the Ontario Energy Board rendered a landmark decision to forbear from the price regulation of natural gas storage services. This paper examines the key issues and provides some economic analysis of the evidence. The decision followed a proceeding during which evidence was given on whether the market for storage is competitive or is subject to significant market power possessed by dominant and incumbent utility firms in the province. Intervenors in the proceeding were in broad agreement on the use of standard concepts from North American antitrust analysis of merger reviews: identification of the relevant product and geographic markets, analysis of market structure within the relevant market, and assessment of barriers to entry. A critical issue at the hearing was the extent of the geographic market; a broad market encompassing U.S. storage facilities in neighbouring states supports a finding of competition, whereas a narrower geographic market restricted to Ontario makes market power more likely. Since gas storage is only as functional as the pipelines connected to it, evidence was directed at assessing the availability of pipeline capacity in both primary and secondary markets. (auth)

  13. Three essays on regulated markets. Renewable energies, hospital competition and health insurance

    Energy Technology Data Exchange (ETDEWEB)

    Unfried, Matthias

    2012-11-15

    This doctoral thesis presents an analysis of regulated markets especially focusing on the behavior of the actors, the effects of regulatory interventions on market outcome, and the necessity of the regulation itself. With respect to the particular characteristics, three different markets are analyzed: the German market for photovoltaic capacity, the German hospital sector, and the market for health insurance with respect to outpatient care. Chapter two provides an analysis of the German system of feed-in tariffs for photovoltaic power with respect to effectiveness and efficiency. To ensure a certain volume of investment in photovoltaic capacity investors receive fixed feed-in tariffs for 20 years for each unit of energy they feed into the grid. This remuneration is reduced according to a certain cut-off scheme for devices which will be installed in the future. In the past view years, an enormous volume of photovoltaic devices has been installed, especially in the weeks before the cut-offs. To analyze the efficiency and the effectiveness of the German feed-in tariff system, first, the determinants of such investment are analyzed by estimating an Error Correction model. The results of the estimation are used to simulate alternative mechanisms of adjusting the feed-in tariffs and compare them to the current regime in terms of target achievement and social costs. One of the key results is that the current system causes early investments, but does not induce over-investment. Moreover, it is shown that a system of continuously adjusted feed-in tariffs could be more appropriate than the current regime and that the adjustment should be related to the investment costs. In chapter three, the German hospital market which is characterized by regulated treatment fees and several different ownership types is analyzed. This part of the thesis tries to answer the question how the existence of non-profit hospitals influences market outcome and welfare compared to a market where

  14. New Land valuation criteria after the spanish 2011 valuation of land regulation: the objectivation of building expectations in rural land

    Directory of Open Access Journals (Sweden)

    Ana Maria De La Encarnación Valcárcel

    2013-06-01

    Full Text Available The land valuation regime has undergone one of its most important modifications at the hands of the 2008 Land Act and its 2011 Regulation. According to the so-called objectivity principle - which defines all established methods for the new basic situations of land - and according to the stated prohibition of taking into consideration building expectations arising from granted planning permission, the fact is that the existence of circumstances that are not a natural consequence of landowner investments made on the property is easily deducible. This is inconsistent with the spirit of the Land Act in force contained in its Explanatory Memorandum.

  15. Legal market abuse regulations of WpHG (law on stock trading) and the REMIT-VO in the electricity spot trading

    International Nuclear Information System (INIS)

    Retsch, Alexander T.

    2014-01-01

    The thesis on legal market abuse regulations of WpHG (law on stock trading) and the REMIT-VO in the electricity spot trading include the discussion of the following issues: market abuse, its forms of appearance (market manipulation, insider trade, insider information), electricity spot trading, relevant legislative frame, market abuse regulations (WpHG), interdiction of market manipulation and related regulations.

  16. How does the alcohol industry attempt to influence marketing regulations? A systematic review

    Science.gov (United States)

    Fooks, Gary; Gilmore, Anna B.

    2016-01-01

    Abstract Aim To systematically review, using a qualitative, narrative synthesis approach, papers examining alcohol industry efforts to influence alcohol marketing policy, and compare with those used by the tobacco industry. Methods Literature searches were conducted between April and July 2011, and updated in March 2013. Papers were included if they: made reference to alcohol industry efforts to influence (a) policy debates concerning marketing regulations, (b) new specific marketing policies or (c) broad alcohol policy which included marketing regulations; were written in English; and concerned the period 1990–2013. Alcohol industry political activity was categorized into strategies/tactics and frames/arguments. Data extraction was undertaken by the lead author and 100% of the papers were fully second‐reviewed. Seventeen papers met the review criteria. Results Five main political strategies and five main frames were identified. The alcohol industry argues against marketing regulation by emphasizing industry responsibility and the effectiveness of self‐regulation, questioning the effectiveness of statutory regulation and by focusing on individual responsibility. Arguments relating to industry responsibility are often reinforced through corporate social responsibility activities. The industry primarily conveys its arguments through manipulating the evidence base and by promoting ineffective voluntary codes and non‐regulatory initiatives. Conclusions The alcohol industry's political activity is more varied than existing models of corporate political activity suggest. The industry's opposition to marketing regulation centres on claims that the industry is responsible and that self regulation is effective. There are considerable commonalities between tobacco and alcohol industry political activity, with differences due potentially to differences in policy contexts and perceived industry legitimacy. PMID:26173765

  17. How does the alcohol industry attempt to influence marketing regulations? A systematic review.

    Science.gov (United States)

    Savell, Emily; Fooks, Gary; Gilmore, Anna B

    2016-01-01

    To systematically review, using a qualitative, narrative synthesis approach, papers examining alcohol industry efforts to influence alcohol marketing policy, and compare with those used by the tobacco industry. Literature searches were conducted between April and July 2011, and updated in March 2013. Papers were included if they: made reference to alcohol industry efforts to influence (a) policy debates concerning marketing regulations, (b) new specific marketing policies or (c) broad alcohol policy which included marketing regulations; were written in English; and concerned the period 1990-2013. Alcohol industry political activity was categorized into strategies/tactics and frames/arguments. Data extraction was undertaken by the lead author and 100% of the papers were fully second-reviewed. Seventeen papers met the review criteria. Five main political strategies and five main frames were identified. The alcohol industry argues against marketing regulation by emphasizing industry responsibility and the effectiveness of self-regulation, questioning the effectiveness of statutory regulation and by focusing on individual responsibility. Arguments relating to industry responsibility are often reinforced through corporate social responsibility activities. The industry primarily conveys its arguments through manipulating the evidence base and by promoting ineffective voluntary codes and non-regulatory initiatives. The alcohol industry's political activity is more varied than existing models of corporate political activity suggest. The industry's opposition to marketing regulation centres on claims that the industry is responsible and that self regulation is effective. There are considerable commonalities between tobacco and alcohol industry political activity, with differences due potentially to differences in policy contexts and perceived industry legitimacy. © 2015 The Authors. Addiction published by John Wiley & Sons Ltd on behalf of Society for the Study of

  18. Environmental policies and regulations on the electricity market in EC

    International Nuclear Information System (INIS)

    Boucher, J.

    1990-01-01

    The use of natural resources like ground and water, the emissions of noxious gases and particles, the thermal rejections, the production of waste and the noise are the main environmental impacts associated with the production of electricity. Emission regulations and standards have been selected so far by the European Community (EC) and the different Member States to deal with the abatement problem. They simply consist in defining some ceilings or regulations for the different types of noxious gases and particles which are emitted by power plants and forcing the power generation companies to comply with these norms within some pre-determined time period. They can also take the form of a general constraint on the sulfur content of the fuel, for example. Tables of emission limits for various gases from existing and new plants are presented. 3 figs., 8 tabs

  19. Financial Market Regulation in Germany - Capital Requirements of Financial Institutions

    Directory of Open Access Journals (Sweden)

    Daniel Karl Detzer

    2015-03-01

    Full Text Available This paper examines capital adequacy regulation in Germany. The first part reviews capital adequacy regulation from the 1930s up to the financial crisis and identifies two main trends: a gradual softening of the eligibility criteria for equity and increasing reliance on internal risk models. While the first trend has been reversed following the financial crisis, internal risk models still play a central role. Therefore, the second part discusses the problems with the use of internal risk models and discusses the potentials of Basel 2.5 and Basel III to alleviate the identified problems. It is concluded that the relevant problems are not resolved. Therefore, in the final part some suggestions of how the problems could be addressed properly are given.

  20. Policy Approaches for Regulating Alcohol Marketing in a Global Context: A Public Health Perspective.

    Science.gov (United States)

    Esser, Marissa B; Jernigan, David H

    2018-04-01

    Alcohol consumption is responsible for 3.3 million deaths globally or nearly 6% of all deaths. Alcohol use contributes to both communicable and noncommunicable diseases, as well as violence and injuries. The purpose of this review is to discuss, in the context of the expansion of transnational alcohol corporations and harms associated with alcohol use, policy options for regulating exposure to alcohol marketing. We first provide an overview of the public health problem of harmful alcohol consumption and describe the association between exposure to alcohol marketing and alcohol consumption. We then discuss the growth and concentration of global alcohol corporations and their marketing practices in low- and middle-income countries, as well as in higher-income societies. We review the use and effectiveness of various approaches for regulating alcohol marketing in various countries before discussing challenges and opportunities to protect public health.

  1. Pension fund regulation: Unintended consequences of foreign investment restrictions in an emerging market economy

    Directory of Open Access Journals (Sweden)

    Coert Frederik Erasmus

    2016-12-01

    Full Text Available Retirement savings allow investors to earn income after retirement by saving while being part of the workforce. Retirement savings comprise the largest portion of retirement savings and should be safeguarded by effective regulation. To safeguard retirement savings, exposure to foreign asset investments is limited. However, in an emerging economy, limiting foreign asset investments, especially investment in developed markets, could hamper the potential investment returns due to the translation risk. To assess the effect of translation risk, a preservation provident fund was used in the present study to determine whether the returns of this preservation provident fund would be adversely affected by investment allocation regulation. The findings indicated how the translation effect affected the preservation provident fund, illustrating the adverse unintended consequences of investment regulation in emerging market economies. Consequently, regulators should reconsider the maximum allowed foreign asset investment in pension fund regulations to enhance investment returns from foreign asset investments

  2. Two essays on electricity markets: Entry into hydroelectric generation industry and the political cycle of regulated prices

    Science.gov (United States)

    Moita, Rodrigo Menon Simoes

    This dissertation is about the electricity industry and the problems that arise with the liberalization and de-regulation of the industry. Characteristics intrinsic to the electricity market create problems that can compromise an efficient functioning of this market. Each of the two chapters of this dissertation focus on a specific aspect of this industry. The first chapter analyzes entry in the hydroelectric generation industry. The operation of a generator upstream regularizes the river flow for generators located downstream on the same river, increasing the production capacity of the latter. This positive externality increases the attractiveness of the locations downstream whenever a generator decides to enter upstream. Therefore, the entry decision of a generator in a given location may affect all entry decisions in potential locations for plants located downstream. I first model the problem of generators located in cascade on the same river and show the positive effect of the externality. Second, I use a panel of data on investment decisions of hydro-generation firms to estimate an entry model that takes into account the effect of the externality generated by entry upriver. The results show a positive incentive to locate downstream from existing plants and from locations where entry is likely to occur. Location characteristics also play an important role on the entrants' decisions. The model provides estimates of the average expected market price across the different years covered by the sample and shows that it rose one year before the energy crisis of 2001, evidencing that the market anticipated the crisis. This result has important implications on the evaluation of the Brazilian market design. It shows that entry responded to a rise in expectations about excess demand in the future, contradicting the argument that the crisis was a consequence of mis-designed market institutions. The second chapter deals with the problem of the political cycle in regulated

  3. Competition, regulation, and pricing behavior in the Spanish retail gasoline market

    OpenAIRE

    Contín Pilart, Ignacio; Correljé, Aad F.; Palacios, María Blanca

    2006-01-01

    The restructuring of the Spanish oil industry produced a highly concentrated oligopoly in the retail gasoline market. In June 1990 the Spanish government introduced a system of ceiling price regulation in order to ensure that "liberalization" was accompanied by adequate consumer protection. This paper examines the pricing behavior of the retail gasoline market using multivariate error correction models over the period January 1993 (abolishment of the state monopoly)-December 2004. The results...

  4. Can NGOs regulate medicines markets? Social enterprise in wholesaling, and access to essential medicines

    Directory of Open Access Journals (Sweden)

    Chaudhuri Sudip

    2011-02-01

    Full Text Available Abstract Background Citizens of high income countries rely on highly regulated medicines markets. However low income countries' impoverished populations generally struggle for access to essential medicines through out-of-pocket purchase on poorly regulated markets; results include ill health, drug resistance and further impoverishment. While the role of health facilities owned by non-governmental organisations (NGOs in low income countries is well documented, national and international wholesaling of essential medicines by NGOs is largely unstudied. This article describes and assesses the activity of NGOs and social enterprise in essential medicines wholesaling. Methods The article is based on a set of interviews conducted in 2006-8 with trading NGOs and social enterprises operating in Europe, India and Tanzania. The analysis applies socio-legal and economic perspectives on social enterprise and market regulation. Results Trading NGOs can resist the perverse incentives inherent in medicines wholesaling and improve access to essential medicines; they can also, in definable circumstances, exercise a broader regulatory influence over their markets by influencing the behaviour of competitors. We explore reasons for success and failure of social enterprise in essential medicines wholesaling, including commercial manufacturers' market response; social enterprise traders' own market strategies; and patterns of market advantage, market segmentation and subsidy generated by donors. Conclusions We conclude that, in the absence of effective governmental activity and regulation, social enterprise wholesaling can improve access to good quality essential medicines. This role should be valued and where appropriate supported in international health policy design. NGO regulatory impact can complement but should not replace state action.

  5. Markets, citizenship and rights: state regulation of labour migration in Malaysia and Spain

    OpenAIRE

    Garcés-Mascareñas, B.

    2010-01-01

    The State regulation of labour migration seems to be confronted with a double dilemma. First, while markets require a policy of open borders to provide as many migrant workers as demanded, citizenship seems to require some degree of closure to the outside. Second, while the exclusive character of citizenship demands closed membership, civil and human rights seem to undermine the State capacity to exclude foreigners once in the country. The present thesis analyses this trilemma between markets...

  6. Can NGOs regulate medicines markets? Social enterprise in wholesaling, and access to essential medicines

    Science.gov (United States)

    2011-01-01

    Background Citizens of high income countries rely on highly regulated medicines markets. However low income countries' impoverished populations generally struggle for access to essential medicines through out-of-pocket purchase on poorly regulated markets; results include ill health, drug resistance and further impoverishment. While the role of health facilities owned by non-governmental organisations (NGOs) in low income countries is well documented, national and international wholesaling of essential medicines by NGOs is largely unstudied. This article describes and assesses the activity of NGOs and social enterprise in essential medicines wholesaling. Methods The article is based on a set of interviews conducted in 2006-8 with trading NGOs and social enterprises operating in Europe, India and Tanzania. The analysis applies socio-legal and economic perspectives on social enterprise and market regulation. Results Trading NGOs can resist the perverse incentives inherent in medicines wholesaling and improve access to essential medicines; they can also, in definable circumstances, exercise a broader regulatory influence over their markets by influencing the behaviour of competitors. We explore reasons for success and failure of social enterprise in essential medicines wholesaling, including commercial manufacturers' market response; social enterprise traders' own market strategies; and patterns of market advantage, market segmentation and subsidy generated by donors. Conclusions We conclude that, in the absence of effective governmental activity and regulation, social enterprise wholesaling can improve access to good quality essential medicines. This role should be valued and where appropriate supported in international health policy design. NGO regulatory impact can complement but should not replace state action. PMID:21356076

  7. Exchange markets for regulating power; ''Boersliche'' Regelenergiemaerkte

    Energy Technology Data Exchange (ETDEWEB)

    Moser, A. [European Energy Exchange AG, Leipzig (Germany). Abt. Produktentwicklung

    2004-07-01

    Free markets for the commodity power are an organic component of a deregulated energy industry. This applies also for the procurement of regulating power by the transmission system operators (TSO). The foundation of exchanges makes perfect sense, when the price of the commodity has an impact beyond the exchange transaction. Exchange structures can help to solve the existing problems for the minute reserve markets in Germany. (orig.)

  8. Competition in energy markets - law and regulation in the European Union

    International Nuclear Information System (INIS)

    Cameron, Peter Duncanson; Brothwood, Michael

    2002-03-01

    Analysis of the origins, aims and implementation of the EU energy directives is essential to an understanding of the emerging internal market in energy in the European Union. This book provides a detailed and practical account of the legislation and the various developments in the Member States that are leading to a competitive energy market for the first time. It explains the legislation, EU case law and the relevant national laws, regulations and competence of the enforcing authorities. (Author)

  9. Differences in regulation and efficiency on the electricity market. A preliminary study in the Market Design program

    International Nuclear Information System (INIS)

    Bergendahl, Goeran; Lindblom, Ted; Olsson, Sven-Olof; Sandoff, Anders

    2001-05-01

    This paper reports the outcome of a pilot study focusing on corporate governance and mechanism design issues concerning the electricity industry. With respect to the on-going deregulation, enlargement and internationalisation of electricity markets, especial emphasis is put on exploring the importance of the regulatory environment for accomplishing overall market efficiency. Throughout this preliminary study a central assumption has been that the actors on electricity markets are trying to maximise profits under conditions of uncertainty and asymmetric information. This means that transaction costs should be taken into consideration when studying and analysing the efficiency of electricity markets. Accordingly, the theoretical framework of this paper is resting largely on information theories, like 'Transaction Cost Economics', 'Agency Theory', 'Public Choice and Regulation' and 'Information Economics'. The pilot study consists of three parts. The first part is focusing on the development of a relevant theoretical framework. This part is demonstrating important pricing principles and regulatory incentives for accomplishing an efficient electricity market and, thus, a fair competition between electricity actors, i.e. power companies and other traders of electricity. In such a market design we have distinguished three cornerstones: 1. Marginal cost based electricity pricing, both for energy and capacity. 2. Long-range planning of production and transmission expansions. 3. Transparent transmission pricing and open access to all regional and local transmission grids. The following areas are examples of theoretical research issues that are of a particular interest in practice: The production and transmission of electricity is characterised by considerable economies of scale. The financing of new production and transmission capacity is, however, hard to manage with internal funding when electricity prices are based on marginal costs. What methods or (pricing) strategies

  10. Credibility engineering in the food industry: linking science, regulation, and marketing in a corporate context.

    Science.gov (United States)

    Penders, Bart; Nelis, Annemiek P

    2011-12-01

    We expand upon the notion of the "credibility cycle" through a study of credibility engineering by the food industry. Research and development (R&D) as well as marketing contribute to the credibility of the food company Unilever and its claims. Innovation encompasses the development, marketing, and sales of products. These are directed towards three distinct audiences: scientific peers, regulators, and consumers. R&D uses scientific articles to create credit for itself amongst peers and regulators. These articles are used to support health claims on products. However, R&D, regulation, and marketing are not separate realms. A single strategy of credibility engineering connects health claims to a specific public through linking that public to a health issue and a food product.

  11. Guide to a Strategic Procurement Planning Approach on Regulated Commodity Markets

    Science.gov (United States)

    Seifert, Marcus; Wüst, Thorsten

    The access of Virtual Organizations to raw materials normally requires external resources. In many cases, the market for raw materials is regulated and the VO principles of trust, customer orientation etc. are not applicable. In consequence, the VO needs to provide reliable solutions for the customer while being dependent on the access to the required raw materials. The objective of the proposed paper is to present a guide to a strategic procurement planning for the manufacturing industry on regulated commodity markets. This guide can be used to evaluate specific sourcing options. The main goal of this guide is to identify the negative effects of market regulation at an early stage and reduce them by developing strategic alternatives. The successful application of this guide is demonstrated by the practical example of the refractory industry and one of their commodities, refractory grade bauxite.

  12. Financial markets regulation in the energy sector. A few financial aspects of energy transactions

    International Nuclear Information System (INIS)

    Simonetti, S.

    2007-01-01

    In addition to energy legislation, financial markets legislation and regulation (FMR) are becoming increasingly important for the energy sector. Consequently, parties on the energy market not only have to deal with the energy and competition authorities (the Dte and NMa respectively), but may also face supervision by The Netherlands Authority for the Financial Markets (AFM). Energy transactions may trigger certain prohibitions and obligations under financial and securities law, the most relevant of which are discussed in this article. Both the recent changes as a result of the Financial Markets Supervision Act ('Wet op het financieel toezicht', Wft) entering into force as per 1 January 2007 and the anticipated future amendments following the implementation of the Markets in Financial Instruments Directive (MiFID) are examined [nl

  13. Redistribution by insurance market regulation: Analyzing a ban on gender-based retirement annuities.

    Science.gov (United States)

    Finkelstein, Amy; Poterba, James; Rothschild, Casey

    2009-01-01

    We illustrate how equilibrium screening models can be used to evaluate the economic consequences of insurance market regulation. We calibrate and solve a model of the United Kingdom's compulsory annuity market and examine the impact of gender-based pricing restrictions. We find that the endogenous adjustment of annuity contract menus in response to such restrictions can undo up to half of the redistribution from men to women that would occur with exogenous Social Security-like annuity contracts. Our findings indicate the importance of endogenous contract responses and illustrate the feasibility of employing theoretical insurance market equilibrium models for quantitative policy analysis.

  14. The existing Nordic regulating power market. FlexPower WP1 - Report 1

    Energy Technology Data Exchange (ETDEWEB)

    Bang, C.; Fock, F.; Togeby, M.

    2011-06-15

    The FlexPower project investigates the possibility of using broadcasted dynamic electricity prices as a simple and low cost means to activating a large number of flexible small-scale power units. The aim is to provide regulating power via an aggregated response from the numerous units on a volunteer basis. The report provides a brief historical and contextual background of the Nordic electricity market. Thereafter it goes into greater detail describing the Nordic regulating power market, both how it functions in practice, and examining some of the historical trends from a Danish perspective. (LN)

  15. The organisation of work and systems of labour market regulation and social protection

    DEFF Research Database (Denmark)

    Lorenz, Edward; Lundvall, Bengt-Åke

    2011-01-01

    The paper demonstrates on the basis of date from 15 European countries that there is a close link between the form of labour market regulation and the systems of social protection on the one hand and modes of work organisation and learning on the other hand.......The paper demonstrates on the basis of date from 15 European countries that there is a close link between the form of labour market regulation and the systems of social protection on the one hand and modes of work organisation and learning on the other hand....

  16. Industry self-regulation of alcohol marketing: a systematic review of content and exposure research.

    Science.gov (United States)

    Noel, Jonathan K; Babor, Thomas F; Robaina, Katherine

    2017-01-01

    With governments relying increasingly upon the alcohol industry's self-regulated marketing codes to restrict alcohol marketing activity, there is a need to summarize the findings of research relevant to alcohol marketing controls. This paper provides a systematic review of studies investigating the content of, and exposure to, alcohol marketing in relation to self-regulated guidelines. Peer-reviewed papers were identified through four literature search engines: SCOPUS, Web of Science, PubMed and PsychINFO. Non-peer-reviewed reports produced by public health agencies, alcohol research centers, non-governmental organizations and government research centers were also identified. Ninety-six publications met the inclusion criteria. Of the 19 studies evaluating a specific marketing code and 25 content analysis studies reviewed, all detected content that could be considered potentially harmful to children and adolescents, including themes that appeal strongly to young men. Of the 57 studies of alcohol advertising exposure, high levels of youth exposure and high awareness of alcohol advertising were found for television, radio, print, digital and outdoor advertisements. Youth exposure to alcohol advertising has increased over time, even as greater compliance with exposure thresholds has been documented. Violations of the content guidelines within self-regulated alcohol marketing codes are highly prevalent in certain media. Exposure to alcohol marketing, particularly among youth, is also prevalent. Taken together, the findings suggest that the current self-regulatory systems that govern alcohol marketing practices are not meeting their intended goal of protecting vulnerable populations. © 2016 Society for the Study of Addiction.

  17. The impact of the new wave of financial regulation for European energy markets

    International Nuclear Information System (INIS)

    Nijman, Luuk

    2012-01-01

    As the financial and physical markets for energy have increasingly become intertwined, energy trade is also covered by financial legislation. The European Commission wishes to strengthen this financial regulation of energy trade. It has put forward a set of regulatory proposals aimed at stabilizing financial markets and limiting volatility of energy prices. The most noteworthy are EMIR, MAD, REMIT and the revised MiFID. Key elements are transparency, new trading venues, central clearing obligations and mandatory transaction reporting. This article evaluates the likely outcomes for energy markets, given the new incentives for market parties. It argues that although there is no ground to exempt particular energy market participants such as energy companies from financial legislation, increased regulation will not necessarily bring about the effects the Commission desires. The causal link between derivatives trading and volatility of energy prices is not known precisely and many of the economic effects of the proposed legislation are theoretically and empirically ambiguous. Moreover, potentially conflicting instruments and objectives risk policy inconsistency. - Highlights: ► The European Commission has put forward a set of financial legislation to stabilize both financial markets and energy prices. ► This article assesses the impact of this financial regulation on energy markets. ► It shows that the theoretical and empirical effects of key elements in this legislation are ambiguous. ► It argues that, if enacted, particular market parties such as energy companies should not be exempted. ► It concludes that this set of legislation will not necessarily bring about the effects the Commission desires.

  18. Insider trading under trading ban regulation in China’s A-share market

    Directory of Open Access Journals (Sweden)

    Chafen Zhu

    2015-09-01

    Full Text Available This study examines the effects of China’s 2008 trading ban regulation on the insider trading of large shareholders in China’s A-share market. It finds no evidence of insider trading during the ban period (one month before the announcement of a financial report, due to high regulation risk. However, the ban only constrains the profitability of insider trades during the ban period, while trades outside it remain highly profitable. Informed insider trading before the ban period is 2.83 times more profitable than uninformed trading. The regulation has changed insider trading patterns, but has been ineffective in preventing insider trading by large shareholders due to rigid administrative supervision and a lack of civil litigation and flexible market monitoring. This study enhances understanding of large shareholders’ trading behavior and has important implications for regulators.

  19. Marketing of food and beverage in Brazil: scientific literature review on regulation and self-regulation of advertisements

    Directory of Open Access Journals (Sweden)

    Aline Kassahara

    2017-12-01

    Full Text Available The effects of marketing strategies for promotion of foods and beverages have been investigated due to its potential impacts on populations’ food choices, particularly among children and adolescents. The paper presents an academic literature review on regulation and self-regulation of food and beverage advertisements in Brazil, based on search performed in electronic databases. Majority of studies were based on law analysis or qualitative study of advertisements. There are sufficient evidences on the need for government regulation of advertisements addressed to children and adolescents complementarily to institutional self-regulation in order to tackle ethical transgressions on food and beverage advertisements identified in Brazil. Additionally, there should be imposition of rigorous penalties for noncompliance to ethical rules and proposition of incentives towards actions encouraging healthy food consumption patterns, in order to comprise an actual system for promotion of public health.

  20. Is the price squeeze doctrine still viable in fully-regulated energy markets?

    International Nuclear Information System (INIS)

    Spiwak, L.J.

    1993-01-01

    Simply stated, a price squeeze occurs when a firm with monopoly power on the primary, or wholesale, level engages in a prolonged price increase that drives competitors out of the secondary, or retail level, and thereby extends its monopoly power to the secondary market. A price squeeze will not be found, however, for any short-term exercise in market power. Rather, because anticompetitive effects of a price squeeze are indirect, the price squeeze must last long enough and be severe enough to produce effects on actual or potential competition in the secondary market. In regulated electric industries, a price squeeze claim usually arises from the complex relationship between the supplier, the wholesale customer, the retail customer, and the federal and state regulators. The supplier sells electric power to both wholesale and retail customers. Wholesale transactions are regulated by federal regulators, and retail transactions are regulated at the state level. The wholesale customers in turn sell power to their retail customers. Over the last several years, there have been substantial developments in the application of the price squeeze doctrine to fully-regulated electric utilities. This article will examine the current developments in this area, and attempt to highlight the burdens potential litigants, both plaintiffs and defendants, must overcome to succeed

  1. Coordination and decision making of regulation, operation, and market activities in power systems

    Science.gov (United States)

    Nakashima, Tomoaki

    Electric power has been traditionally supplied to customers at regulated rates by vertically integrated utilities (VIUs), which own generation, transmission, and distribution systems. However, the regulatory authorities of VIUs are promoting competition in their businesses to lower the price of electric energy. Consequently, in new deregulated circumstances, many suppliers and marketers compete in the generation market, and conflict of interest may often occur over transmission. Therefore, a neutral entity, called an independent system operator (ISO), which operates the power system independently, has been established to give market participants nondiscriminatory access to transmission sectors with a natural monopoly, and to facilitate competition in generation sectors. Several types of ISOs are established at present, with their respective regions and authorities. The ISO receives many requests from market participants to transfer power, and must evaluate the feasibility of their requests under the system's condition. In the near future, regulatory authorities may impose various objectives on the ISOs. Then, based on the regulators' policies, the ISO must determine the optimal schedules from feasible solutions, or change the market participants' requests. In a newly developed power market, market participants will conduct their transactions in order to maximize their profit. The most crucial information in conducting power transactions is price and demand. A direct transaction between suppliers and consumers may become attractive because of its stability of price, while in a power exchange market, gaming and speculation of participants may push up electricity prices considerably. To assist the consumers in making effective decisions, suitable methods for forecasting volatile market price are necessary. This research has been approached from three viewpoints: Firstly, from the system operator's point of view, desirable system operation and power market structure

  2. Testing for Expected Return and Market Price of Risk in Chinese A-B Share Market: A Geometric Brownian Motion and Multivariate GARCH Model Approach

    DEFF Research Database (Denmark)

    Zhu, Jie

    There exist dual-listed stocks which are issued by the same company in some stock markets. Although these stocks bare the same firm-specific risk and enjoy identical dividends and voting policies, they are priced differently. Some previous studies show this seeming deviation from the law of one p...

  3. Regulation and competition in the Taiwanese pharmaceutical market under national health insurance.

    Science.gov (United States)

    Liu, Ya-Ming; Yang, Yea-Huei Kao; Hsieh, Chee-Ruey

    2012-05-01

    This article investigates the determinants of the prices of pharmaceuticals and their impact on the demand for prescription drugs in the context of Taiwan's pharmaceutical market where medical providers earn profit directly from prescribing and dispensing drugs. Based on product-level data, we find evidence that the profit-seeking behavior of the medical providers in the prescription drug market transfers the force of competition from the unregulated wholesale market to the regulated retail market and hence market competition still plays an important role in the determination of the regulated price. We also find that the profit-seeking behavior plays a similar role to advertising in that it increases the brand loyalty and hence lowers price elasticity. An important implication of our study is that the institutional features in the pharmaceutical market matter in shaping the nature of pharmaceutical competition and the responsiveness of pharmaceutical consumption with respect to changes in price. Copyright © 2012 Elsevier B.V. All rights reserved.

  4. The Theoretical and Methodological Bases to Form the Parity of State Regulation of the National Economy and Market Self-Regulation

    Directory of Open Access Journals (Sweden)

    Yahno Tetiana P.

    2017-09-01

    Full Text Available The aim of the article is to summarize the existing approaches regarding the optimal balance of mechanisms of economic regulation and identify factors that influence the formation of the parity of state regulation and market self-regulation of economy. The analysis of the existing studies has made it possible to establish that the mixed economy model, which is organized on the basis of the market price system but uses various forms of government intervention to correct macroeconomic instability, is the most optimal one for effective development. The smoothing, preventing of negative consequences of effects of market regulators is the goal of state regulation of economy. It is substantiated that the optimal correlation of mechanisms of state regulation and market self-regulation is not a constant value. The maximum effective ratio in application of these mechanisms will not always be achieved under condition of equal government intervention and self-regulation. It depends on the country’s potential, its involvement in the system of the world market economy, level of development of the society, as well as historical features of the country’s development and phase of the economic cycle. Prospects for further research are the substantiation of a new paradigm for the formation of the parity of state regulation and market self-regulation in the context of financial uncertainty and effect of supranational regulators, growing contradictions of globalization-regionalization based on the use of the system and synergetic approach.

  5. The Government Incentive Regulation Model and Pricing Mechanism in Power Transmission and Distribution Market

    Directory of Open Access Journals (Sweden)

    Huan Zhang

    2016-01-01

    Full Text Available The power transmission and distribution (T&D market’s natural monopoly and individual information have been the impediment to improving the energy efficiency in the whole T&D market. In order to improve the whole social welfare, T&D market should be controlled by government. An incentive regulation model with the target of maximizing social welfare has been studied. A list of contracts with transferring payment and quantity of T&D are given to motivate the corporation to reveal the true technical parameter and input the optimal investment. The corporate revenue, optimal investment, and effort are proved to depend on its own technical parameter. The part of incentive regulation model ends with the optimal pricing mechanism of T&D market. At the end of this paper, we give a numerical example to explain our research and confirm its function graphically.

  6. Field Experience from Li-Ion BESS Delivering Primary Frequency Regulation in the Danish Energy Market

    DEFF Research Database (Denmark)

    Swierczynski, Maciej Jozef; Stroe, Daniel Ioan; Lærke, Rasmus

    2014-01-01

    In this paper it is presented the practical experience from operating a 1.6 MW/ 0.4 MWh lithium ion battery energy storage system, which is providing primary frequency regulation service on the Danish energy market. Aspects of the battery system requirements and the used control strategy...

  7. Markets, citizenship and rights: state regulation of labour migration in Malaysia and Spain

    NARCIS (Netherlands)

    Garcés-Mascareñas, B.

    2010-01-01

    The State regulation of labour migration seems to be confronted with a double dilemma. First, while markets require a policy of open borders to provide as many migrant workers as demanded, citizenship seems to require some degree of closure to the outside. Second, while the exclusive character of

  8. It extended for come into force the Electric Energy Whole Sale Market regulation and annexes

    International Nuclear Information System (INIS)

    2003-01-01

    It has seen seen the deadline set by the decree no. 86 March 5, 2003 for entry into force of the Regulation of wholesale power market and the desirability to adapt the wording of its provisions and for reasons of urgency.

  9. Governance and regulation of the tourism industry: An internet marketing perspective

    Directory of Open Access Journals (Sweden)

    Lebambo, M.

    2016-05-01

    Full Text Available The purpose of this qualitative study is to establish governance and regulation issues pertaining to Internet marketing approaches within the South African tourism sector. The study focuses on the norms and practices of Internet marketing among small-scale lodging establishments in Bushbuckridge – a small tourist town in northeast South Africa. In-depth interviews were collected from eight participating bed and breakfast (B&B owners. Findings revealed that, while Internet awareness was quite high, only a few B&Bs utilised the Internet for marketing. Participants cited lack of clear industry guidelines on Internet marketing approaches as well as limited Internet experience, among others, as barriers to adoption. Implications and recommendations of the study are presented within the ambit of the existing literature

  10. Tradeable emission permits regulations in the presence of imperfectly competitive product markets. Welfare implications

    International Nuclear Information System (INIS)

    Sartzetakis, E.S.

    1997-01-01

    In the present paper, we analyse the interaction of a competitive market for emission permits with an oligopolistic product market. It is well known that a competitive permits market achieves the cost minimizing distribution of abatement effort among the polluting firms for a given reduction in emissions. However, when the product market is oligopolistic, it may redistribute production inefficiently among firms. It has been suggested that this inefficiency can outweigh the gains obtained from using emission permits instead of command and control. Although this argument is clearly correct under full information, it is shown in the present paper that it reverses under incomplete information. In particular, it is shown that when tradeable emission permits are specified according to the standard textbook example, they yield higher social welfare than the command and control regulation. 1 fig., 2 appendices, 11 refs

  11. Some design lessons from market-based greenhouse gas regulation in the restructured Australian electricity industry

    International Nuclear Information System (INIS)

    MacGill, Iain; Outhred, Hugh; Nolles, Karel

    2006-01-01

    There is growing worldwide interest in the use of market-based policy instruments for climate change regulation in the electricity sector. These mechanisms would seem to offer some efficiency and flexibility advantages over more traditional regulatory approaches, while being highly compatible with competitive market-based electricity industries. Australia has been an early and enthusiastic adopter of both electricity industry restructuring and market-based environmental instruments. This paper first outlines some of these recent policy developments. In particular, we describe the objectives, design and outcomes to date of electricity industry restructuring, the Mandatory Renewable Energy Target, the NSW Greenhouse Benchmarks, the Queensland 13% Gas scheme and Government accredited Green Power. From this, we draw some key design lessons for such market-based instruments. These include the perils of abstraction in scheme design, the vital importance of setting appropriate baselines in 'baseline and credit' schemes, the possibility that such measures may interact in ways that reduce their environmental effectiveness, 'market for lemon' risks with tradable instruments that have measurement, verification or 'additionality' difficulties, and the challenges of creating transparent liquid markets for these mechanisms. The mixed performance of these Australian schemes to date illustrates the need for great care in designing such market-based approaches

  12. Some design lessons from market-based greenhouse gas regulation in the restructured Australian electricity industry

    Energy Technology Data Exchange (ETDEWEB)

    MacGill, Iain [School of Electrical Engineering and Telecommunications, University of New South Wales, Sydney NSW 2052 (Australia)] e-mail: i.macgill@unsw.edu.au; Outhred, Hugh [School of Electrical Engineering and Telecommunications, University of New South Wales, Sydney NSW 2052 (Australia); Nolles, Karel [School of Electrical Engineering and Telecommunications, University of New South Wales, Sydney NSW 2052 (Australia)

    2006-01-01

    There is growing worldwide interest in the use of market-based policy instruments for climate change regulation in the electricity sector. These mechanisms would seem to offer some efficiency and flexibility advantages over more traditional regulatory approaches, while being highly compatible with competitive market-based electricity industries. Australia has been an early and enthusiastic adopter of both electricity industry restructuring and market-based environmental instruments. This paper first outlines some of these recent policy developments. In particular, we describe the objectives, design and outcomes to date of electricity industry restructuring, the Mandatory Renewable Energy Target, the NSW Greenhouse Benchmarks, the Queensland 13% Gas scheme and Government accredited Green Power. From this, we draw some key design lessons for such market-based instruments. These include the perils of abstraction in scheme design, the vital importance of setting appropriate baselines in 'baseline and credit' schemes, the possibility that such measures may interact in ways that reduce their environmental effectiveness, 'market for lemon' risks with tradable instruments that have measurement, verification or 'additionality' difficulties, and the challenges of creating transparent liquid markets for these mechanisms. The mixed performance of these Australian schemes to date illustrates the need for great care in designing such market-based approaches.

  13. Some design lessons from market-based greenhouse gas regulation in the restructured Australian electricity industry

    Energy Technology Data Exchange (ETDEWEB)

    Iain MacGill; Hugh Outhred; Karel Nolles [University of New South Wales, Sydney, NSW (Australia). School of Electrical Engineering & Telecommunications

    2006-01-01

    There is growing worldwide interest in the use of market-based policy instruments for climate change regulation in the electricity sector. These mechanisms would seem to offer some efficiency and flexibility advantages over more traditional regulatory approaches, while being highly compatible with competitive market-based electricity industries. Australia has been an early and enthusiastic adopter of both electricity industry restructuring and market-based environmental instruments. This paper first outlines some of these recent policy developments. It then describes the objectives, design and outcomes to date of electricity industry restructuring, the Mandatory Renewable Energy Target, the NSW Greenhouse Benchmarks, the Queensland 13% Gas scheme and Government accredited Green Power. From this, some key design lessons are drawn for such market-based instruments. These include the perils of abstraction in scheme design, the vital importance of setting appropriate baselines in 'baseline and credit' schemes, the possibility that such measures may interact in ways that reduce their environmental effectiveness, 'market for lemon' risks with tradable instruments that have measurement, verification or 'additionality' difficulties, and the challenges of creating transparent liquid markets for these mechanisms. The mixed performance of these Australian schemes to date illustrates the need for great care in designing such market-based approaches. 36 refs., 2 figs.

  14. Should catastrophic risks be included in a regulated competitive health insurance market?

    Science.gov (United States)

    van de Ven, W P; Schut, F T

    1994-11-01

    In 1988 the Dutch government launched a proposal for a national health insurance based on regulated competition. The mandatory benefits package should be offered by competing insurers and should cover both non-catastrophic risks (like hospital care, physician services and drugs) and catastrophic risks (like several forms of expensive long-term care). However, there are two arguments to exclude some of the catastrophic risks from the competitive insurance market, at least during the implementation process of the reforms. Firstly, the prospects for a workable system of risk-adjusted payments to the insurers that should take away the incentives for cream skimming are, at least during the next 5 years, more favorable for the non-catastrophic risks than for the catastrophic risks. Secondly, even if a workable system of risk-adjusted payments can be developed, the problem of quality skimping may be relevant for some of the catastrophic risks, but not for non-catastrophic risks. By 'quality skimping' we mean the reduction of the quality of care to a level which is below the minimum level that is acceptable to society. After 5 years of health care reforms in the Netherlands new insights have resulted in a growing support to confine the implementation of the reforms to the non-catastrophic risks. In drawing (and redrawing) the exact boundaries between different regulatory regimes for catastrophic and non-catastrophic risks, the expected benefits of a cost-effective substitution of care have to be weighted against the potential harm caused by cream skimming and quality skimping.

  15. Using the Idea of Market-Expected Return Rates on Invested Capital in the Verification of Conformity of Market Evaluation of Stock-Listed Companies with their Intrinsic Value

    Directory of Open Access Journals (Sweden)

    Paweł Mielcarz

    2012-12-01

    Full Text Available This article presents the concept of investor-expected rates of return on capital of listed companies and the use of these rates in the assessment of the extent to which the stock evaluation of a given entity is compatible with its intrinsic value. The article also features results of the research aimed at verification – with the use of the presented tool – of whether the market value of WSE-listed companies reflects their fundamental value. The calculations presented in the empirical part of the article show that at the beginning of 2011, market evaluation of the most of the analysed entities greatly exceeded their fundamental value.

  16. Continued growth expected for wood energy despite turbulence of the economic crisis : wood energy markets, 2008-2009

    Science.gov (United States)

    Rens Hartkamp; Bengt Hillring; Warren Mabee; Olle Olsson; Kenneth Skog; Henry Spelter; Johan Vinterback; Antje Wahl

    2009-01-01

    The economic crisis has not reduced the demand for wood energy, which is expected to continue to grow. The downturn in sawmill production caused a shortage of raw material supply for wood pellet producers. With decreased demand for pulpwood-quality roundwood for wood and paper products in 2009, some pulpwood is being converted into wood energy. Economies of scale are...

  17. 77 FR 5385 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Revision of...

    Science.gov (United States)

    2012-02-03

    ... the ``order.'' The order is effective under the Agricultural Marketing Agreement Act of 1937, as... DEPARTMENT OF AGRICULTURE Agricultural Marketing Service 7 CFR Part 985 [Doc. Nos. AMS-FV-10-0094; FV11-985-1A FIR] Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West...

  18. 78 FR 23673 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Revision of...

    Science.gov (United States)

    2013-04-22

    ... the ``order.'' The order is effective under the Agricultural Marketing Agreement Act of 1937, as... DEPARTMENT OF AGRICULTURE Agricultural Marketing Service 7 CFR Part 985 [Doc. Nos. AMS-FV-11-0088; FV12-985-1A FIR] Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West...

  19. 77 FR 13019 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Salable...

    Science.gov (United States)

    2012-03-05

    ... DEPARTMENT OF AGRICULTURE Agricultural Marketing Service 7 CFR Part 985 [Doc. No. AMS-FV-11-0088; FV12-985-1 PR] Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Salable Quantities and Allotment Percentages for the 2012-2013 Marketing Year AGENCY: Agricultural...

  20. 78 FR 32070 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Salable...

    Science.gov (United States)

    2013-05-29

    ... DEPARTMENT OF AGRICULTURE Agricultural Marketing Service 7 CFR Part 985 [Doc. No. AMS-FV-12-0064; FV13-985-1 FR] Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Salable Quantities and Allotment Percentages for the 2013-2014 Marketing Year AGENCY: Agricultural...

  1. 76 FR 27852 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Salable...

    Science.gov (United States)

    2011-05-13

    ... DEPARTMENT OF AGRICULTURE Agricultural Marketing Service 7 CFR Part 985 [Doc. No. AMS-FV-10-0094; FV11-985-1 FR] Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Salable Quantities and Allotment Percentages for the 2011-2012 Marketing Year AGENCY: Agricultural...

  2. 77 FR 57037 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Change to...

    Science.gov (United States)

    2012-09-17

    ... Service 7 CFR Part 985 [Doc. No. AMS-FV-12-0014; FV12-985-2 PR] Marketing Order Regulating the Handling of... Excess Spearmint Oil AGENCY: Agricultural Marketing Service, USDA. ACTION: Proposed rule. SUMMARY: This... Act (RFA), the Agricultural Marketing Service (AMS) has considered the economic impact of this action...

  3. The Economic Development of Natural Resources: Fracking and Self-Regulation in the Market for Land

    Directory of Open Access Journals (Sweden)

    Paul J. Kubik

    2013-06-01

    Full Text Available The purpose of this piece is to apply some of the lessons learned during the period of industrialization in 19th century Europe to the study of the effects and appropriate regulation of the contemporary process of hydraulic fracturing, or fracking, in the natural gas industry. An attempt is made to support the conclusion that the harmful side effects associated with the creation of self-regulating markets for land, labor and money during the 19th century is paralleled today by the self-regulating character of the process of hydraulic fracturing. As a result, the negative consequences associated with industrialization are been visited again on present day market economies.

  4. The Evolving Contingency Contracting Market: Private Sector Self regulation and United States Government Monitoring of Procurement of Stability Operations Services

    Science.gov (United States)

    2016-01-01

    statements of work would be useful in ensuring ethical govern- ment procurement practices. Conclusions The United States conducts diplomatic, defense...THE EVOLVING CONTINGENCY CONTRACTING MARKET: PRIVATE SECTOR SELF-REGULATION AND UNITED STATES GOVERNMENT MONITORING OF PROCUREMENT OF STABILITY...MARKET: PRIVATE SECTOR SELF-REGULATION AND UNITED STATES GOVERNMENT MONITORING OF PROCUREMENT OF STABILITY OPERATIONS SERVICES Whitney Grespin January

  5. The impact of junk food marketing regulations on food sales: an ecological study.

    Science.gov (United States)

    Kovic, Y; Noel, J K; Ungemack, J A; Burleson, J A

    2018-06-01

    To evaluate the impact of junk food broadcast marketing policies on nationwide junk food sales and identify policy characteristics effective in reducing sales. Country policy data (n = 79) were categorized in a thorough literature review and analysed using a repeated measures design against data on food sales per capita. Study conducted in United States, 2017. Countries with junk food broadcast marketing policies saw a decrease in junk food sales per capita after implementation, while those without said policies saw an increase (p = 0.013). Countries with statutory policies saw a decrease in sales per capita, while those with only self-regulation saw an increase (p = 0.004). Audience restrictions (p = 0.024) and standardized nutrition criteria (p = 0.008) were policy characteristics significantly associated with a decrease in sales per capita. Utilizing a novel approach to evaluate junk food broadcast marketing policies, the study demonstrated that countries with statutory policies saw a significant decrease in junk food sales per capita not seen in countries with no or only self-regulatory policies. To effectively reduce exposure to child-targeted junk food marketing, governments should establish strong, comprehensive statutory regulations. Additionally, countries that implement junk food marketing policies can use food sales data to track policy effectiveness. © 2018 World Obesity Federation.

  6. Regulations and monitoring of the financial part of the electricity market

    International Nuclear Information System (INIS)

    Eriksson, Svante; Eliasson, Torben; Jenssen Aasmund

    2001-11-01

    The electricity derivatives market has grown significantly during the last few years. It refers to all commodity derivatives (options, futures and forwards) based on electricity and traded either on the Nord Pool Exchange or bilaterally between single parties. The growth of the derivatives market has also led to an increasing need for relevant regulation and monitoring. In this report ECON describes how the common financial regulations (e.g. Sweden's Securities Operations Act) affect power sector companies and how the electricity derivatives market is being monitored by the Swedish and the Norwegian financial supervisory authorities. The aim of the report is to give ideas about possible future research projects about the electricity derivatives market. In Sweden commodity derivatives based on electricity are generally considered to be 'financial instruments' according to The Trading in Financial Instruments Act. At least this seems to be the case with contracts traded on Nord Pool and bilateral contracts that can be subject to clearing by Nord Pool. In some cases, companies wanting to offer services regarding financial instruments in the Swedish market need a special licence and it comes from the Swedish Financial Supervisory Authority. The services that require a special permit are: trading financial instruments, in one's own name, on behalf of another party, brokering of contacts between purchasers and sellers, trading in financial instruments on one's own account, management of another party's financial instruments, and underwriting or other participation in issuances of securities or offers to purchase or sell financial instruments directly to the public. A licence to conduct a securities operation brings with it, among other things, certain mandatory capital requirements. Securities operations should also be conducted in such a manner that public confidence is maintained in the securities markets. Regulation should insure that for example, insider trading is

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

    International Nuclear Information System (INIS)

    Contin-Pilart, Ignacio; Correlje, Aad F.; Blanca Palacios, M.

    2009-01-01

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

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

    Energy Technology Data Exchange (ETDEWEB)

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

    2009-01-15

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

  9. Model rules and regulations for a global CO2 emissions credit market

    International Nuclear Information System (INIS)

    Sandor, R.L.; Cole, J.B.; Kelly, M.E.

    1994-01-01

    On 21 April 1993, on the occasion of Earth Day, the United States affirmed its commitment to reducing emissions of greenhouse gases to their 1990 levels by the year 2000. In doing so, the United States joined the European Union (EU), Japan, and approximately 141 other countries that had either committed themselves to this international objective or subscribed to the general principles contained in the United Nations Framework Convention on Climate Change, signed at UNCED, Rio de Janeiro, June 1992. The commitment of these three trading groups provides the basis for recommending that a market for tradeable carbon dioxide (CO 2 ) emission entitlements among these groups be implemented as soon as an initial set of rules and regulations can be drafted. The goal of a tradeable CO 2 entitlement or credit market is to lower the cost of limiting emissions. The Costs of CO 2 emission abatement are lowered because the market encourages more emission reductions to be produced by the most efficient resources. The ability easily to selI CO 2 credits created through large emission cuts allows cost recovery by, and incentives for, the most efficient sources of emission reductions. The purpose of this paper is to stimulate debate by providing model rules and regulations for a tradeable CO 2 emission credit market. The trading rules and regulations proposed here are meant to initiate a process whereby participants will iterate toward a final set of rules and regulations. Therefore, our proposal should create a point of departure for further adjustments and transformation to the initial set of recommendations. A specific proposal will be advanced at this point in order to provide a basis for the conceptualization of this global market. Moreover, this specific proposal will help focus dialogue and may provide insight into the general recommendations presented in the balance of this paper

  10. Understanding the role and value of marketing communications by a regulated, monopoly firm

    Science.gov (United States)

    Guzek, Frederick J.

    2003-10-01

    Expenditures on advertising and other marketing efforts have been found to generate profits for the firm and savings for the consumer in competitive industries. However, prior research has not addressed the use of these practices by price-regulated monopolies such as electric utility companies. Surprisingly, many utilities spend substanstially on advertising and sales despite having a captive customer base. Moreover, a unique feature within electric utilities is that much utility advertising involves demarketing, with a view to lessen strain on the system and to help avoid situations demanding high-cost energy. In this context, I ask the following questions: Is spending on marketing by monopoly firms justified? Does the consumer pay a higher price for electricity because of marketing or do shareholders pay for it? Do such activities provide a net welfare benefit? Finally, do measurable differences in marketing expenditures exist along the continuum from heavily regulated to nearly competitive markets? I analyze data from the Federal Energy Regulatory Commission and from the National Regulatory Research Institute. I find a significant positive relationship between advertising and net income, supporting the notion that advertising expenditures benefit the utility firm. I do not, however, find a significant relationship between marketing effort and consumer price, suggesting that consumers may not be bearing the expense of such practices. I also investigate the manner in which advertising improves net earnings. Speciifically, I find that advertising is negatively related to indirect expenses in this industry. Surprisingly, advertising is also negatively related to electricity consumption. Overall, the results suggest that advertising creates value by reducing indirect expenses without raising prices. These finds thus support the premise of a net welfare gain. Finally, I also find that progress toward deregulation and the level of advertising expenditures are

  11. DEVELOPMENT OF THE HEAT PUMP MARKET IN POLAND IN RELATION TO NEW LEGAL REGULATIONS

    Directory of Open Access Journals (Sweden)

    Anna Wachowicz-Pyzik

    2015-10-01

    Full Text Available Heat pump market in Poland is one of the most dynamically developing branches of renewable energy sources (RES. Installations using different types of low-temperature heat pumps are becoming more and more popular especially among owners of detached houses. The article presents the characteristics of the heat pump market in Poland in recent years. Most important changes introduced on 20 February 2015 in the Act on Renewable Energy Sources (Journal of Laws 2015 pos. 478, were discussed. Also future prospects associated with increased use of heat pumps installations in the face of new regulations were analyzed.

  12. Liberalisation and Market Opening Versus Energy Policy and Regulation Proposals: the German Experiences

    International Nuclear Information System (INIS)

    Wieners, J.

    2001-01-01

    In 1998 the German electricity market became fully liberalised for competition. Prices for all consumer groups recorded a considerable drop. Service centres accepted measures for cost reduction, new strategies resulted in mergers. However, in view of economic efficiency, the German Government set life surroundings as the primary task. With new electricity market regulation numerous grants were introduced into renewable energy sources as well as the combined production of heat and electricity, which had a destabilising effect on all price savings on the part of the competition.(author)

  13. Industry self-regulation of food marketing to children: reading the fine print.

    Science.gov (United States)

    Hebden, Lana; King, Lesley; Kelly, Bridget; Chapman, Kathy; Innes-Hughes, Christine

    2010-12-01

    despite the evidence showing the negative influences of food marketing on children's dietary beliefs and behaviours, and risk of adiposity, regulatory action to limit unhealthy food marketing has made little progress within Australia. Our aim was to describe and critically examine the Australian Food and Grocery Council's (AFGC) approach to self-regulate food marketing to Australian children through the Responsible Marketing to Children Initiative (Initiative). the Initiative's core principles and the commitments of the 16 signatory companies (as at December 2009) were assessed in terms of their capacity to limit unhealthy food advertising in media accessed by children. All information was publicly available from AFGC and signatory company websites (September- December 2009). limitations of the Initiative included inadequate definitions for when and where food marketing to children can occur, and permissive definitions of foods considered appropriate for advertising. The study also identified numerous examples of ongoing food marketing to children by AFGC companies that illustrate these limitations. until one reads the fine print, the self-regulatory commitments of companies signed to the AFGC Initiative may appear to be responsible. However, this study shows that the commitments are permissive and allow companies to circumvent the stated intent of the Initiative.

  14. Should the regulator allow citizens to participate in tradable permits markets?

    International Nuclear Information System (INIS)

    Rousse, Olivier

    2008-01-01

    Since the seminal paper written by Weitzman (1974), the 'prices vs. quantities' debate regarding choice of policy instrument under imperfect information and uncertainty has been an ongoing concern for economists, especially in the field of the environment. In this debate, several papers have recommended that the regulator allow pollution victims (citizens) to participate in tradable permits markets. According to this literature, when pollution victims purchase and withhold (i.e. destroy) emission rights from polluting firms, this means that the overall quota is not efficient and that welfare gains will be realised. In this paper, we present further theoretical results showing that citizen participation in tradable quotas markets may become welfare decreasing. Indeed, citizens can aggravate the first error made by the regulator if they are also under uncertainty about the marginal benefit curve or if they exhibit strong enough risk aversion. Therefore, we recommend that the regulator limit citizen participation to a certain percentage of permits. In doing so, we extend the 'prices versus quantities' debate to simultaneous uncertainty and risk aversion by showing that a marketable permits system offers the regulator an opportunity to control the negative effects of agents' (citizens' and firms') risk aversion on welfare. (author)

  15. Proceedings of the 11th forum: Croatian Energy Day: Regulation problems relating to energy service markets

    International Nuclear Information System (INIS)

    2002-01-01

    The main goals of the majority of processes and developments relating to energy sectors of today present the enhancement of energy sector efficiency, ensuring of stable financial sources and safe return of the means invested through practice of activities at the market of energy and energy services, i.e. public services or monopoly. This is to be achieved by means of energy sector restructuring and liberalisation, pluralism of ownership and transparency of the organisational and management scheme. Thereby, an important role and significance for the realisation of these aims, for the development and energy market functioning on the national level, as well as for the achievement of reciprocity and complementarity of national markets with regional and multi-national energy markets, is held by models and forms of energy activity regulation. In a limited sense, the regulation itself should constitute an adequate stimulating framework for free energy flows, transparent and non- discriminating conditions for the utilisation of transmission and transportation systems and networks, protection of supplier choice rights, pluralism of ownership and ownership rights, protection of energy and energy services' quality, environmental protection, protection of purchasers and consumers and protection of energy subjects. For all these reasons, aspects and problems appertaining to energy sector and energy activities' regulation have been chosen as the theme and contents of the 11th Forum. Various countries have undertaken and implemented or are in the process of implementation of different models and contents referring to energy sector and energy activity regulation. Experience and legislative practice are quoted as the main criteria. The aim of this Forum is to set forth and clarify experiences and solutions connected to the regulation of energy activities in numerous European countries or in the world

  16. Association of Transition Readiness to Intentional Self-Regulation and Hopeful Future Expectations in Youth With Illness.

    Science.gov (United States)

    Hart, Laura C; Pollock, McLean; Hill, Sherika; Maslow, Gary

    Little is known about how transition readiness relates to other developmental skills of adolescence in youth with chronic illness. Better understanding of how transition readiness relates to these other developmental skills could lead to a broader array of tools to improve transition readiness. Intentional self-regulation (ISR) and hopeful future expectations (HFE) are 2 developmental skills of adolescence that improve with participation in developmental programming and thus are modifiable. We explored associations between transition readiness, as measured by the Transition Readiness Assessment Questionnaire 29 (TRAQ-29) and ISR and HFE in youth with chronic illness recruited from a variety of subspecialty clinics from a major southeast medical center. A total of 71 adolescents with chronic illness were included in the analysis. The TRAQ-29 Self-Advocacy domain showed positive associations to both ISR (P = .03) and HFE (P = .009). In addition, the TRAQ-29 overall had positive associations to HFE (P = .04). The significant associations between TRAQ-29 Self-Advocacy domain scores and ISR and HFE suggest that transition readiness is developing within the context of other developmental areas in adolescence. More work is needed to see if the programming that improves these other developmental skills might also improve transition readiness. Copyright © 2016 Academic Pediatric Association. Published by Elsevier Inc. All rights reserved.

  17. The impact of price-cap regulations on market entry by generic pharmaceutical firms.

    Science.gov (United States)

    Zhang, Wei; Sun, Huiying; Guh, Daphne; Anis, Aslam H

    2017-04-01

    In 1998, the province of Ontario, Canada implemented price-cap '70/90' regulations: the first generic must be priced at ≤70% of the associated brand-name price and subsequent generics must be priced at ≤90% of the first generics' price. The price-cap was further lowered to 50% in 2006 and 25% in 2010 for all generic drugs regardless of the first or subsequent generic entrants. This study assessed the impact of such price-cap regulations on market entry by generic firms using the formulary database from 9 provinces (January 2004-March 2013). A logistic regression was estimated to compare the probability of entry during the three policy periods in Ontario ('70/90', '25', versus '50'). Since different price-caps were subsequently introduced in other provinces, Alberta, British Columbia, New Brunswick and Saskatchewan, difference-in-differences was used to compare market entry. In Ontario, compared with the period '50', generic firms were 76% and 63% less likely to enter markets in the periods '25' and '70/90', respectively. The difference-in-differences showed that the entry probability decreased the most in Ontario during the '25' period from the '50' period. Lowering the price-cap level to 25% leads to a significantly lower probability of market entry by generic firms.

  18. Regulations for pressurized equipment in the European Single Market - construction of steam boilers, containers and pipelines

    International Nuclear Information System (INIS)

    Grassmuck, J.

    1992-01-01

    The impulses produced by the data of the standardized EC Single Market have now reached pressurized equipment in the field of EC Guidelines and European standardisation. This must be regarded as a great challenge to the interested and concerned parties. All efforts to represent the interested parties in European Committees must be made. In order to reach the goal quickly and successfully, a considerable readiness to compromise is, however, necessary. At the end of the development process, a comprehensible, standardized set of regulations will be available for pressurized equipment throughout Europe. The regulations will consist of national ones converted into European Guidelines and Standards. (orig.) [de

  19. Auctioneers vs. commissaires-priseurs: The carnival mirror of profession regulation in the international art market

    Directory of Open Access Journals (Sweden)

    Elisabetta Lazzaro

    2013-06-01

    Full Text Available This paper is a comparative analysis of the recent evolution of the French and the Anglo-Saxon profession regulations of auctioneers in terms of entry barriers and exercise of the profession. Firstly, following Stephen and Love's (1999 framework of the regulation of legal profession, we highlight the differences between regulations focussing on different levels (entry restrictions, advertising, fees, fee contracts, and organisational form. We show that French commissaire-priseurs and Anglo-Saxon auctioneers are bounded to quite opposed rules, relating to both the level of regulation (licensing against registration or certification and the scope of this regulation. Secondly, we try to assess the success of these regulations in terms of economic efficiency by comparing the international markets shares of French and Anglo-Saxon auctioneers. We further highlight how a weak regulation can disturb prices mechanisms and, in some cases, favour speculation. The discussion of some emblematic scandals highlights distortions provoked by a strong, as well as a weak regulation

  20. Alcohol regulation, communication strategies and underage alcohol consumption in Spain: Implications for social marketing

    OpenAIRE

    Rodríguez Sánchez, Carla; Sancho-Esper, Franco

    2016-01-01

    Purpose. The purpose of this paper is twofold. First, it examines the communication strategies pursued by firms related to alcohol beverages in Spain during a decade with major changes in alcohol marketing regulations. Second, it analyzes the relationship between these strategies and underage alcohol consumption before and after 2007. Design/methodology/approach. Panel data methodology is implemented using data from ESTUDES national survey (average sample size 26,000 interviews, 2004-2010) an...

  1. How does the tobacco industry attempt to influence marketing regulations? A systematic review.

    Directory of Open Access Journals (Sweden)

    Emily Savell

    Full Text Available The Framework Convention on Tobacco Control makes a number of recommendations aimed at restricting the marketing of tobacco products. Tobacco industry political activity has been identified as an obstacle to Parties' development and implementation of these provisions. This study systematically reviews the existing literature on tobacco industry efforts to influence marketing regulations and develops taxonomies of 1 industry strategies and tactics and 2 industry frames and arguments.Searches were conducted between April-July 2011, and updated in March 2013. Articles were included if they made reference to tobacco industry efforts to influence marketing regulations; supported claims with verifiable evidence; were written in English; and concerned the period 1990-2013. 48 articles met the review criteria. Narrative synthesis was used to combine the evidence.56% of articles focused on activity in North America, Europe or Australasia, the rest focusing on Asia (17%, South America, Africa or transnational activity. Six main political strategies and four main frames were identified. The tobacco industry frequently claims that the proposed policy will have negative unintended consequences, that there are legal barriers to regulation, and that the regulation is unnecessary because, for example, industry does not market to youth or adheres to a voluntary code. The industry primarily conveys these arguments through direct and indirect lobbying, the promotion of voluntary codes and alternative policies, and the formation of alliances with other industrial sectors. The majority of tactics and arguments were used in multiple jurisdictions.Tobacco industry political activity is far more diverse than suggested by existing taxonomies of corporate political activity. Tactics and arguments are repeated across jurisdictions, suggesting that the taxonomies of industry tactics and arguments developed in this paper are generalisable to multiple jurisdictions and can

  2. Gas market distorting effects of imbalanced gas balancing rules: Inefficient regulation of pipeline flexibility

    International Nuclear Information System (INIS)

    Keyaerts, Nico; Hallack, Michelle; Glachant, Jean-Michel; D'haeseleer, William

    2011-01-01

    This paper analyzes the value and cost of line-pack flexibility in liberalized gas markets through examination of the techno-economic characteristics of gas transport pipelines and the trade-offs between different ways to use the infrastructure: transport and flexibility. Line-pack flexibility is becoming increasingly important as a tool to balance gas supply and demand over different periods. In the European liberalized market context, a monopolist unbundled network operator offers regulated transport services and flexibility (balancing) services according to the network code and balancing rules. Therefore, gas policy makers should understand the role and consequences of line-pack regulation. The analysis shows that the line-pack flexibility service has an important economic value for the shippers and the TSO. Furthermore, the analysis identifies distorting effects in the gas market due to inadequate regulation of line-pack flexibility: by disregarding the sunk costs of flexibility in the balancing rules, the overall efficiency of the gas system is decreased. Finally, the analysis demonstrates that the actual costs of line-pack flexibility are related to the peak cumulative imbalance throughout the balancing period. Any price for pipeline flexibility should, therefore, be based on the related trade-off between the right to use the line-pack flexibility and the provision of transport services. - Research Highlights: →Line-pack flexibility is a main gas balancing instrument. →Capacity related costs of line-pack flexibility depend on peak cumulative imbalances. →Line-pack pricing rules determine choice between ex ante and ex post balancing. →Inefficient line-pack regulation causes gas market distortions.

  3. Medical devices and the Middle East: market, regulation, and reimbursement in Gulf Cooperation Council states

    Directory of Open Access Journals (Sweden)

    Howard JJ

    2014-11-01

    Full Text Available Jason J Howard Division of Paediatric Orthopaedics, Department of Surgery, Sidra Medical and Research Center, Doha, Qatar Abstract: With some of the richest economies in the world, the Gulf Cooperation Council (GCC is undergoing rapid growth not only in its population but also in health care expenditure. Despite the GCC's abundance of hydrocarbon-based wealth, the drivers of the medical device industry in the GCC are still in flux, with gains yet to be made in areas of infrastructure, regulation, and reimbursement. However, the regional disease burden, expanding health insurance penetration, increasing privatization, and a desire to attract skilled expatriate health care providers have led to favorable conditions for the medical device market in the GCC. The purpose of this article is to investigate the current state of the GCC medical device industry, with respect to market, regulation, and reimbursement, paying special attention to the three largest medical device markets: Saudi Arabia, the United Arab Emirates, and Qatar. The GCC would seem to represent fertile ground for the development of medical technologies, especially those in line with the regional health priorities of the respective member states. Keywords: medical devices, regulation, reimbursement, Middle East 

  4. Bringing smart pills to market: FDA regulation of ingestible drug/device combination products.

    Science.gov (United States)

    Avery, Matthew; Liu, Dan

    2011-01-01

    Imagine a pill that, after you swallow it, can track its position in your body. Or imagine a pill that can transmit a message to a doctor to tell him that you have taken your bitter medicine. Pills like this already exist. These so-called smart pills are an emerging type of medical therapy. However, this nascent technology has yet to reach the market and developers of these novel therapies face significant regulatory challenges. This article predicts how the Food and Drug Administration will regulate smart pills and shows how the current regulatory regime is inadequate. The article then proposes modifying the current regulatory regime to encourage development of smart pills and other innovative combination products by: (1) regulating combination products based on their "novel mode of action" rather than their "primary mode of action," (2) creating a marketing approval pathway specifically for combination products, and (3) eliminating regulations that require sponsors to get marketing approval from multiple centers within FDA and providing regulatory guidance specifically for ingestible drug/device combination products.

  5. Economic and institutional dynamics of electricity markets deregulation: the interaction between sectoral regulation and antitrust policy

    International Nuclear Information System (INIS)

    Fontanel, B.

    2009-01-01

    The purpose of this study is to define regulatory intervention as a part of a global monitoring procedure allowing the definition and adaptation of market structures and rules, given the observed behavior of market participants. Nevertheless, the possible inefficiency in its (decisional) coordination with competition authorities implies further analysis. We thus adopt a comparative methodology based on the studying PJM and NETA wholesale markets. This analysis enables us to stress two possible 'models' in the distribution and coordination of monitoring powers. The first one privileges a strong 'informational coordination' between the sectoral regulator and the Transmission System Operator. By contrast, the second model is characterized by a constrained informational coordination, leading to a greater 'decisional convergence' between regulatory intervention and antitrust policy. Lastly, we put these conclusions into perspective with the specific issue of the achievement of an efficient and integrated European market for electricity. In particular, we stress the need for a single regulatory agency, which should be given autonomous decisional powers in the adoption of regional markets reform initiatives (author)

  6. Government-guided market regulation in the Federal Republic of Germany. Zur staatlichen Marktregulierung in der Bundesrepublik

    Energy Technology Data Exchange (ETDEWEB)

    Soltwedel, R; Busch, A; Gross, A; Laaser, C F

    1987-01-01

    The major part of the expertise 'Deregulation Potentials in the Federal Republic of Germany' - theoretical fundaments, justifying analysis of the regulation and the proposals relating to deregulation - was published as 'Kieler Studie No. 202'. However, the synopsis of the relevant legal prescriptions of the regulation systems, the historical development courses of regulations, analytic excursions and statistical information about the structures of the markets could not be included in the investigation. This gap is now closed by the special issue 'Government-guided market regulation in the Federal Republic of Germany'. Among others, it deals with the regulation of the supplying industry: it shows the structures of the most important sections and the market-regulating acts of the government: competition-restricting instruments, price regulation by the government and the restraint to contract. (orig./HSCH).

  7. Endocrine surgery fellowship graduates past, present, and future: 8 years of early job market experiences and what program directors and trainees can expect.

    Science.gov (United States)

    Krishnamurthy, Vikram D; Gutnick, Jesse; Slotcavage, Rachel; Jin, Judy; Berber, Eren; Siperstein, Allan; Shin, Joyce J

    2017-01-01

    Given the increasing number of endocrine surgery fellowship graduates, we investigated if expectations and job opportunities changed over time. American Association of Endocrine Surgeons (AAES) fellowship graduates, surgery department chairs, and physician recruiters were surveyed. Univariate analysis was performed with JMP Pro 12 software. We identified 141 graduates from 2008-2015; survey response rate was 72% (n = 101). Compared to earlier graduates, fewer academic opportunities were available for the recent graduates who intended to join them (P = .001). Unlike earlier graduates, recent graduates expected to also perform elective general surgery, which ultimately represented a greater percentage of their practices (both P job offers decreased. Overall, 84% of graduates matched their intended practice type and 98% reported being satisfied. Reponses from graduates, department chairs, and physician recruiters highlighted opportunities to improve mentor involvement, job search strategies, and online job board utilization. The endocrine surgery job market has diversified resulting in more graduates entering nonacademic practices and performing general surgery. This rapid evolution supports future analyses of the job market and opportunities for job creation. Almost every graduate reported job satisfaction, which encourages graduates to consider joining both academic and nonacademic practices equally. Copyright © 2016 Elsevier Inc. All rights reserved.

  8. Into the void: Regulating pesticide use in Colorado's commercial cannabis markets.

    Science.gov (United States)

    Subritzky, Todd; Pettigrew, Simone; Lenton, Simon

    2017-04-01

    In 2014, Colorado implemented the world's first seed-to-sale recreational cannabis market under a commercial model. This paper aims to provide a thick descriptive account that gives insight into the issues and complexities of Colorado's pioneering and evolving attempt to regulate the use of pesticides on commercial cannabis plantations. The paper examines multiple data sets including: (i) Colorado State Government documents; (ii) recreational cannabis regulations; (iii) mass and niche media publications (n=175); (iv) face-to-face interviews with key stakeholders, including seniors, regulators and industry executives (n=8); and (v) field notes from relevant conferences and cultivation facility tours in Denver in October, 2016. Two key issues are identified. First, a public safety threat has arisen relating to application of pesticides on cannabis with intensified toxicity in concentrated products of particular concern. Second, as a pioneering jurisdiction, Colorado faces a considerable knowledge gap. To expand collective learning on this issue, for which no regulatory template and little research exists, state regulators tapped industry and other stakeholder expertise while attempting to ensure public safety goals were achieved and regulatory capture by industry was limited. Four years since the recreational cannabis market in Colorado was legalised, the State continues to grapple with the pesticide issue as testing regulations and cultivation standards are yet to be finalised. While more work is needed, Colorado has made significant progress in developing regulations relating to this complex matter. As governments of countries such as Canada and US states, including California, contemplate changes to recreational cannabis laws, Colorado's experience can assist regulators in other jurisdictions considering policy change. Copyright © 2017 Elsevier B.V. All rights reserved.

  9. Regulations as a Tool to Increase Consumer Protection on the European Retail Payment Market

    Directory of Open Access Journals (Sweden)

    Janina Harasim

    2018-03-01

    Full Text Available Aim/purpose - The purpose of the paper is to identify the main areas of customers' threats concerning using financial services and the in-depth review of European industry- -specific consumer regulations concerning current accounts and payments. Design/methodology/approach - Desk research including in-depth analysis of industry- specific consumer regulations referring to current accounts and payment services having the character of EU directives and regulations, European Commission reports, and documents. Findings - The paper shows that consumers' interests are threatened even when they use basic financial services as current account and combined payment instruments. The analysis based on of desk resources has revealed that the regulations give effect to customer protection only if they strictly correspond to defined areas of threats and particular types of risks. Research implications/limitations - The experience of the recent financial crisis proved that the asymmetry of knowledge and information was one of the crucial reasons disrupting customers' position on financial markets. Research findings will help to identify gaps in regulations and develop the quality of further initiatives aimed on informing customers about the implementation of regulations and improving their financial literacy level. Originality/value/contribution - The payment products are rarely discussed in the literature in the context of consumers' protection and financial regulations. This paper contributes to the debate by providing an overview of financial consumer protection issues concerning retail payments.(original abstract

  10. The Evolution of the Theory and Practice of State Regulation of Addictive Goods Markets

    Directory of Open Access Journals (Sweden)

    Roman Yuryevich Skokov

    2016-03-01

    Full Text Available The article discusses the evolution of state regulation of the market of addictive goods and services in the context of the periodization of ideas about the role of the state in the economy in general, in historical and economic era, in the formation of the species of addictive goods markets. In the age of mercantilism the sphere of regulation of addictive goods markets was not the subject of attention of economists, but in practice there is an idea of the need for state protectionism. During its criticism in the framework of the theory of physiocrats and in the beginning of the classical school, alcohol products become a subject of research of economists, as the major source of budgetary funds. The abolition of serfdom, the development of private industrial activity, changing the farming tax system to the excise tax, indicate the penetration of traditional liberal principles in domestic economy in the field of addictive goods. The German historical schools focused on the active role of the state with respect to national peculiarities of the economy, found support and development in the works of Russian scientists that support the alcohol and tobacco monopoly. In the Soviet period the principles of Marxist political economy were formed on the basis of total nationalization of production and distribution of allowed addictive goods. The margin school is characterized by psychological interpretation of economic processes in the field of addictive goods under the conditions of perfect competition, in particular the role of consumers in the pricing. In the period of theoretical struggle of monetarism against keynesianism, which coincided with the drug boom, there were areas of economics of crime and punishment, drugs. In the neoliberalism period the antiprohibitionist movement was formed in the field of addictive goods. Changing some postulates of neoclassical economics by neo-institutional economic theory contributed to the development of empirical

  11. The International Code of Marketing of Breast-milk Substitutes: lessons learned and implications for the regulation of marketing of foods and beverages to children.

    Science.gov (United States)

    Lutter, Chessa K

    2013-10-01

    To identify lessons learned from 30 years of implementing the International Code of Marketing of Breast-milk Substitutes (‘the Code’) and identify lessons learned for the regulation of marketing foods and beverages to children. Historical analysis of 30 years of implementing the Code. Latin America and the Caribbean. None. Legislation to restrict marketing of breast-milk substitutes is necessary but not sufficient; equally important are the promulgation of implementing regulations, effective enforcement and public monitoring of compliance. A system of funding for regular monitoring of compliance with legislation should be explicitlyd eveloped and funded from the beginning. Economic sanctions, while important, are likely to be less effective than reports that affect a company’s public image negatively. Non-governmental organizations play a critical role in leveraging public opinion and galvanizing consumer pressure to ensure that governments adopt regulations and companies adhere to them. Continual clinical, epidemiological and policy research showing the link between marketing and health outcomes and between policy and better health is essential. Implementation of the Code has not come easily as it places the interests of underfinanced national governments and international and non-governmental organizations promoting breast-feeding against those of multinational corporations that make hundreds of millions of dollars annually marketing infant formulas. Efforts to protect, promote and support breast-feeding have been successful with indicators of breast-feeding practices increasing globally. The lessons learned can inform current efforts to regulate the marketing of foods and beverages to children.

  12. Obesity and industry self-regulation of food and beverage marketing

    DEFF Research Database (Denmark)

    Ronit, Karsten; Jensen, Jørgen Dejgård

    2014-01-01

    Objective: Obesity is a growing concern at national and international levels, and it is increasingly recognized that the industry plays a role and needs to be involved to halt the obesity epidemic. The objective of this study is to describe, analyse and evaluate research on industry self-regulati......Objective: Obesity is a growing concern at national and international levels, and it is increasingly recognized that the industry plays a role and needs to be involved to halt the obesity epidemic. The objective of this study is to describe, analyse and evaluate research on industry self......-regulation regarding food and beverage marketing and nutrition labelling. Design: Five databases were searched for combinations of the search terms: obesity, nutrition, food, beverages, industry, self-regulation, labelling, advertising and marketing, and papers were selected on the basis of paper titles......, and subsequently on the basis of abstracts. Results: Of the 4978 identified publications, 22 were included in the final review. The studies show that commitments in industry self-regulation schemes tend to be relatively vague and permissive, that the measurable effects of the self-regulations tend to be relatively...

  13. New market based price regulation on combined heat and power in Denmark

    International Nuclear Information System (INIS)

    Koch, Jesper; Nielsen, Marianne; Hansen, Anders B.; Lawaetz, Henrik

    2003-01-01

    Major economic risks can become reality when local co-generation plants (L-CHP ) meet the full market penetration with new market based price regulation. Co-generation produces more than 50% of the national electricity consumption and half of the production is generated from L-CHP. The new price regulation is assumed to take action in 2004. The paper will present an analysis of a market based price regulation on the L-CHP-sector. The paper will spotlight on L-CHP in district heating systems supplying heat for domestic purposes. When smaller and medium sized CHP sell electricity they are paid an average price of 46 Euro per MWh. The return of selling electricity shall primarily cover the expenditure of buying gas for electricity production and writing off investments cost of a CHP-plant. With the framework of today it is a fact that the plants (in average) are only slightly competitive compared to individual heat production plants. When CHP meet market conditions there is a high risk that electricity prices will be reduced significantly (prices of 20 - 30 Euro per MWh) for a longer period. Significantly reduced electricity prices will result in dramatically increased heat prices. If no action is taken there will be a potential risk that heat consumers in the smaller and medium sized cities together must pay an extra bill of 200 million Euro each year. It corresponds to an average increase of the heating bill of 300 - 500 Euro per year for an average house. This is far from acceptable. There will also be a high risk that companies with industrial CHP will permanently convert to heat only boiler and only use their CHP occasionally because CHP plants might not be cost-effective when electricity prices are low. These effects can cause a significant increase of the national CO 2 emission

  14. Regulation of distribution grid prices at the beginning of market liberalisation - Experience in Norway and Sweden

    International Nuclear Information System (INIS)

    Filippini, M.; Wind, J.; Luchsinger, C.

    2001-01-01

    This report for the Swiss Federal Office of Energy (SFOE) reviews the experience gained in the deregulation of electricity distribution grids in Norway and Sweden and compares it with the possible options for Switzerland. The report looks at the requirements placed on the future Swiss regulation of electricity distribution grids and the various regulation models such as Rate-of-Return, Price-Cap, Revenue-Cap and Benchmarking that could be used in the short and long term. The choice of Sweden and Norway from the list of countries with liberalised electricity markets is discussed. The results of the study of the two countries are discussed individually, including the structure of the sector, the various stages of deregulation, the main characteristics encountered at the start of deregulation, regulation of grid prices at the beginning of liberalisation and experience gained in each case. The report is supplemented by a comprehensive list of the sources used

  15. Assessing tobacco marketing regulation implementation level in Georgia: evidence from Non Communicable Disease Risk Factors STEPS Survey Georgia 2016

    Directory of Open Access Journals (Sweden)

    Lela Sturua

    2018-03-01

    Full Text Available Background Tobacco use continues to be the leading cause of preventable deaths worldwide; the biggest burden of it falls on low- and middle-income countries and this trend is expected to widen further in case of inaction. The overall objective of the study is to describe and analyze the findings of the Noncommunicable Disease Risk Factors STEPS Survey Georgia 2016 related to tobacco marketing regulation. Methods The current study in Georgia was a population-based STEPS survey of randomly selected adults aged 18-69 within each sex and 10-year age-group. A multi-stage cluster sample design was used to produce representative data for that age range in Georgia. A total of 5554 adults participated in the current survey. We assessed level o tobacco marketing regulation implementation in Georgia. Results Study results reported high prevalence of tobacco use in Georgian population (31.1% (95 % CI: 29.0-33.1. Study findings showed that about half of the current smokers are exposed to anti-tobacco information on TV or radio 52.3% (95% CI: 48.9 - 55.7, whereas 35.5% (95% CI: 32.2 - 38.8 reported being exposed to cigarette marketing at points of sales of tobacco products and 4.7% (95% CI: 3.2-6.1 to any cigarette promotions. Health warnings on cigarette packs was reported to be noticed by 88.7% (95% CI: 85.8-91.6 of current smokers; only 33% (95% CI: 25.4 - 40.7 of them reported having thought about quitting because of these warnings. Conclusions The prevalence of smoking in Georgia is high compared to other countries of the European Region and it is very likely that smoking related NCDs burden will increase. Stricter tobacco control policies coupled with anti-tobacco media campaigns can address this problem. Improved health warnings on tobacco packages and total ban of tobacco advertisement, promotion and sponsorship should be implemented in order to overcome prevailed tobacco industry marketing strategies.

  16. The effect of labour market regulation on domestic workers in Orchards and Soshanguve, Pretoria

    Directory of Open Access Journals (Sweden)

    Andrew Matjeke

    2012-01-01

    Research purpose: The purpose of this article was to analyse and compare the effects of, and level of compliance with, the regulation of the domestic worker sector in two very different residential areas in Pretoria. Motivation for the study: Researchers have conducted all previous micro-study investigations of the topic in Langenhoven Park, Bloemfontein. We need more micro-level studies to investigate the effects of regulating this labour market because areas with different socioeconomic conditions may yield different results. Research design, approach and method: The researchers followed a quantitative micro- research design using structured questionnaires. They used the research methodology applied in similar micro-studies as the basis of the survey to make the results comparable. They used the criterion sampling technique. Respondents completed 87 questionnaires in Orchards and 89 in Soshanguve. Main findings: Evidence suggests that areas in close proximity to one another in the same metropolis yield significant differences in the wages or salaries and non-wage working conditions of domestic workers. A blanket approach to identifying and monitoring the effects of the legislation for this sector is not an appropriate one. Practical/managerial implications: The sector needs micro-studies over an extended period and in different areas to form a more nuanced picture of this multifaceted labour market. This study emphasised the necessity for improved monitoring of the existing legislation. Contribution/value-add: This is the first micro-study to compare the effects of regulating the domestic workers sector of two residential areas with different socioeconomic characteristics. The results will give authorities a better understanding of the level of compliance with, and effects of, the regulation of domestic workers. It will also guide the monitoring of, and enforcement decisions for, this labour market.

  17. Historical review of European gasoline lead content regulations and their impact on German industrial markets

    Energy Technology Data Exchange (ETDEWEB)

    Hagner, C. [GKSS-Forschungszentrum Geesthacht GmbH (Germany). Inst. fuer Hydrophysik

    1999-07-01

    Environmental protection policies in the automobile market were not implemented until the motorisation of the masses in the 1960s caused an increasing environmental burden. The rising air pollution was considered a latent danger for humans, animals and plants. In the years up to 1985 the EU passed several regulations to limit the mass pollutants CO, CxHy and NOx. Germany was the first EU-member nation to also be concerned with lead in gasoline, passing reduction regulations as early as in 1971. In 1986, several EU-member nations implemented the supply of unleaded gasoline. This decision was predominantly based on information about widespread forest damage. The reduction of lead emissions due to these regulations could be verified in different environmental systems. An example of this was the decline of atmospheric lead concentrations and human blood lead levels in Germany. The German mineral oil and automobile markets were also affected. The price trend of unleaded fuel was heavily influenced by tax incentives which benefited not only the gasoline traders but also the consumers. With regard to the distribution system, the market positions particularly of the medium-sized traders and the independent importers were weakened. In the automobile market, favourable terms of competition were experienced by producers who had already gained experience with catalyst systems in the U.S.-market. The gasoline lead content regulations had no effects on further economic indicators, except for competition. (orig.) [German] Infolge der Massenmotorisierung in den 60er Jahren stieg die Umweltbelastung durch den Automobilverkehr stark an. Luftverschmutzung durch Kraftfahrzeuge wurde erstmalig als latente Gefahr fuer die Gesundheit von Mensch, Tier und Pflanze wahrgenommen. Dies charakterisierte den Beginn der Umweltpolitik im Automobilsektor. Bis 1985 verabschiedete die Europaeische Union (EU) mehrere Rahmenrichtlinien zur Reduktion der Luftschadstoffe CO, CxHy und NOx. 1971 war

  18. State Regulation of the Savings Market Within the Context of “New Economy” Imperatives

    Directory of Open Access Journals (Sweden)

    Valeriya Viktorovna Litvin

    2015-12-01

    Full Text Available In the conditions of “new economy” which today is being shaped due to unprecedented progress of science and technology, and information revolution, we observe significant intensification of insecurity and instability risks as well as scaling-up and devastating impact of the downturn. Financial security of many countries and stable functioning of the national savings schemes are under threat which makes impossible expanded reproduction and further social welfare growth. In addition, over the last decades the financial component of crises has gained its role, new financial technologies and assets have become the key reason for the downturn. In this regard, the study of new potential threats of savings market volatility as a savings system core acquires special relevance. Based on the analysis of the main imperfections of savings market under the conditions of new economy, this article defines and analyzes priority directions of the state activity targeted at ensuring sustainability of the national savings system. The author outlines the scope of legal regulation for the savings market, reveals the peculiarities of its monopolization in the conditions of globalization taking into account specifics of this process on the post-industrial stage of civilization development. Manifestations of external effects in savings market have been investigated as well as mechanisms of neutralizing the negative externalities and encouraging positive ones. Both implications of information incomplete character and internalities referring to it have been examined. The methods to increase market savings saturation with information have been considered. The role of state guarantees to ensure sustainability and stability of the national savings systems development has been shown. Performance criteria for institutions in charge to guarantee savings return have been defined. Directions of improving the state system of safeguards have been offered. Mechanism of

  19. Liberalization of the natural gas market, public interests and regulations urge

    International Nuclear Information System (INIS)

    Pisuisse, C.S.

    2004-01-01

    Developments in the last two years showed that liberalization of the gas market comes with all kind of new and complex regulation. Examples are rules regarding supply permits, the introduction of a supplier of last resort and planning and building obligations for network operators. In the article an oversight of these rules has been given. The regulations are mainly based on public services interests, especially security of supply. It becomes clear that politicians on the one hand are in favour of liberalization, but on the other hand won't accept the accompanying risks for especially the smaller consumers. Security of supply has to be guaranteed under all circumstances. It is obvious that this layer of new rules results in an administrative burden for the parties on the market. Moreover, as a result of these rules the possibilities for real competition, which are already limited due to the special characteristics of the Gas market, have become less and less. In the mean time, the question arises whether it is still realistic to speak of liberalization. It is also doubtful whether the households will still benefit from the possibilities of freedom of choice. Within the coming months the so called second Gas directive has to be implemented. Members of Parliament should realize that, during this implementation process there is no room left to build in additional certainties for consumers [nl

  20. Medical devices and the Middle East: market, regulation, and reimbursement in Gulf Cooperation Council states.

    Science.gov (United States)

    Howard, Jason J

    2014-01-01

    With some of the richest economies in the world, the Gulf Cooperation Council (GCC) is undergoing rapid growth not only in its population but also in health care expenditure. Despite the GCC's abundance of hydrocarbon-based wealth, the drivers of the medical device industry in the GCC are still in flux, with gains yet to be made in areas of infrastructure, regulation, and reimbursement. However, the regional disease burden, expanding health insurance penetration, increasing privatization, and a desire to attract skilled expatriate health care providers have led to favorable conditions for the medical device market in the GCC. The purpose of this article is to investigate the current state of the GCC medical device industry, with respect to market, regulation, and reimbursement, paying special attention to the three largest medical device markets: Saudi Arabia, the United Arab Emirates, and Qatar. The GCC would seem to represent fertile ground for the development of medical technologies, especially those in line with the regional health priorities of the respective member states.

  1. Marketing alcohol to young people: implications for industry regulation and research policy.

    Science.gov (United States)

    Jackson, M C; Hastings, G; Wheeler, C; Eadie, D; Mackintosh, A M

    2000-12-01

    This paper focuses on the marketing of alcohol to young people in the United Kingdom, but the lessons that emerge have international significance. Alcohol is a global enterprise and recent consolidation means that it is controlled by a decreasing number of expanding multi-nationals. Alcohol companies are able to allocate significant resources to researching consumer preferences, developing new products and promoting them on an international level. Recent years have seen a growth in the value that youth culture attaches to brand labels and symbols and a move away from the healthy-living ethos. The alcohol industry's response to these trends has been to design alcoholic beverages that appeal to young people, using well-informed and precisely targeted marketing strategies. This has led to growing concerns about the implications for public health and a demand for tighter controls to regulate alcohol marketing practices. In the United Kingdom, controls on alcohol are piecemeal and reactive and the current system of voluntary regulation appears ineffective. This paper argues for more research to establish current industry practice and inform the development of a comprehensive regulatory structure and system of monitoring.

  2. THE PROBLEM OF REGULATING THE MARKET OF COLLECTIVE INVESTMENTS IN RUSSIA IN CONDITIONS OF FINANCIAL CRISIS

    Directory of Open Access Journals (Sweden)

    N. Redko

    2016-01-01

    Full Text Available At the moment the Bank of Russia became the megaregulator of the fi nancial market of Russia that opens new opportunities and prospects for development on the one hand, with another - there is a full monopolization of control and supervision of its participants. The author of article describes actual problems of regulation of the market of collective investments, relying on the existing practice of activity of management companies. Analyzing a situation from the point of view of protection of interests of the investor, and also for development of this sector of economy he suggests to shift focus in regulation. The main attention, in his opinion, needs to be turned on involvement of the experts conducting practicians and analysts in the sphere of professional and trust management for development of optimal solutions of the existing problems of the fi nancial market, and also for creation of the transparent and healthy economic environment of his activity. Aiming efforts at the development of innovative instruments of collective investment, it is possible to make signifi cant progress in overcoming of the crisis phenomena in fi nancial sector of economy

  3. 78 FR 9575 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Change to...

    Science.gov (United States)

    2013-02-11

    ... reserve oil in such manner as to accurately account for its receipt, storage, and disposition. In a rule... FR] Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Change to Administrative Rules Regarding the Transfer and Storage of Excess Spearmint Oil AGENCY: Agricultural Marketing...

  4. The European Energy Regulators Group and the realization of the internal energy market

    International Nuclear Information System (INIS)

    Lavrijssen, S.A.C.M.

    2006-01-01

    The role of the European Energy Regulators Group (ERGEG) in the realization of the internal energy market is discussed. It is concluded that the ERGEG has already achieved significant results in dealing with several complex technical and legal problems that hamper market integration in the energy sector. However, it is a fundamental problem that the ERGEG is neither an EU institution nor a national institution, resulting in a lack of its democratic accountability and in the legal protection against the actions taken by the ERGEG. Therefore, the future success of the ERGEG will depend on the ability of the European legislator to find answers to the question how to ensure that the ERGEG fulfils its tasks in a legitimate way [nl

  5. Launch prices for new pharmaceuticals in the heavily regulated and subsidized Spanish market, 1995-2007.

    Science.gov (United States)

    Puig-Junoy, Jaume; López-Valcárcel, Beatriz González

    2014-06-01

    This paper provides empirical evidence on the explanatory factors affecting introductory prices of new pharmaceuticals in a heavily regulated and highly subsidized market. We collect a data set consisting of all new chemical entities launched in Spain between 1997 and 2005, and model launch prices following an extended version of previous economic models. We found that, unlike in the US and Sweden, therapeutically "innovative" products are not overpriced relative to "imitative" ones after having controlled for other factors. Price setting is mainly used as a mechanism to adjust for inflation independently of the degree of innovation. The drugs that enter through the centralized EMA approval procedure are overpriced, which may be a consequence of market globalization and international price setting. Copyright © 2014 Elsevier Ireland Ltd. All rights reserved.

  6. Marketing.

    Science.gov (United States)

    Chambers, David W

    2010-01-01

    There is not enough marketing of dentistry; but there certainly is too much selling of poor quality service that is being passed off as dentistry. The marketing concept makes the patient and the patients' needs the ultimate criteria of marketing efforts. Myths and good practices for effective marketing that will promote oral health are described under the traditional four "Ps" categories of "product" (best dental care), "place" (availability), "promotion" (advertising and other forms of making patients aware of available services and how to use them), and "price" (the total cost to patients of receiving care).

  7. The new regulation of natural gas market; La nueva regulacion del mercado del gas natural

    Energy Technology Data Exchange (ETDEWEB)

    Gallego Anabitarte, A.; Rodriguez de Santiago, J. M. [Universidad Autonoma de Madrid (Spain)

    1998-12-31

    We examine the regime governing the gas market in Spain under Law 34/98 of 7 October. The law distinguishes between regulated activities and non-regulated activities. This gives rise to the abandonment by the State of their right to regulate activities related with the gas sector and the opening of said market to free competition. The law privates said activities, through its sets forth that the Sate retains the right and thus must guarantee the supply of gas, as well at sets forth the conditions for rendering such services to individuals. The law also deals with property issues over the networks and the right of third parties to access them; we examine a series of legal explanations concerning these issues. Lastly, the provides that the legal relationship governed by said law changes from a system of State franchise in order to carry on an activity, to a system of prior authorizations subject to a number of ancillary clauses. (Author) 34 refs.

  8. Depository Accounting of Securities in the Ukrainian Stock Market Regulation System

    Directory of Open Access Journals (Sweden)

    Veriha Hanna V.

    2016-02-01

    Full Text Available The aim of the article is to study the procedures, technologies, prudential regulation of depository accounting of securities in the system of the Ukrainian stock market infrastructure and identify directions of its improvement. The article analyzes the dynamics of the number of licenses issued by types of professional activity in the stock market. The necessity for further improvement of mechanisms of the updated system of depository accounting of securities in Ukraine has been proved. There have been developed the following recommendations: to improve the unified rules of accounting and regulation support of the system of risk management of depository activity; develop tools for prudential regulation of depository activity and strengthen the control over fulfillment of prudential standards by the Central Depository and depository institutions; create the necessary conditions for the practical implementation of legal norms concerning establishment of clearing institutions and increase in the level of competition between depositaries; expand the correspondent relations of the Central Depository in relation to the establishment of international depositary relations for the liberalization of the international movement of securities; use segregated accounts providing the possibility of storage of client funds separately from the funds of the transfer bank to protect the capital of the issuer and investor from risks of any force majeure situations; mediate the movement of funds at implementing dividend payments through participants of the accounting system: issuer-the Central Depository-depository institution-depositor.

  9. De-regulated electric power markets and operating nuclear power plants: the case of British energy

    International Nuclear Information System (INIS)

    Hewlett, James G.

    2005-01-01

    One issue addressed in almost all electric power restructuring/de-regulation plans in both the United States (US) and the United Kingdom (UK) was the recovery of operating nuclear power plant's spent fuel disposal costs and the expenditures to decommission the units when they are retired. Prior to restructuring, in theory at least, in both countries, electricity consumers were paying for the back end costs from operating nuclear power plants. Moreover, in virtually all cases in the US, states included special provisions to insure that consumers would continue to do so after power markets were de-regulated. When power markets in the UK were initially restructured/de-regulated and nuclear power privatized, the shareholders of British Energy (BE) were initially responsible for these costs. However, after electricity prices fell and BE collapsed, the British government shifted many of the costs to future taxpayers, as much as a century forward. If this was not done, the book value of BE's equity would have been about -3.5 billion pounds. That is, BE's liabilities would have been about -3.5 billion pounds greater than their assets. It is difficult to see how BE could remain viable under such circumstances

  10. Self-regulation by industry of food marketing is having little impact during children's preferred television.

    Science.gov (United States)

    Potvin Kent, Monique; Dubois, Lise; Wanless, Alissa

    2011-10-01

    To examine the efficacy of self-regulation of food marketing to children by comparing, during children's preferred viewing on television, the differences in food/beverage marketing between two groups of corporations: 17 corporations participating in the Canadian Children's Food and Beverage Advertising Initiative (CAI) and 35 corporations not participating (non-CAI) in this initiative. The food/beverage marketing activities of CAI and non-CAI corporations during 99.5 hours of children's preferred viewing on television were compared. First, the preferred television viewing of 272 children aged 10-12 years from Ontario and Quebec who completed TV viewing journals for a seven-day period was determined. A total of 32 television stations were simultaneously recorded, and a content analysis of children's preferred viewing was conducted and included coding all food/beverage promotions and their nutritional content. Each food/beverage promotion was classified by corporation type (i.e., CAI or non-CAI). The CAI was responsible for significantly more food/beverage promotions, and used media characters and repetition more frequently in their food/beverage promotions than the non-CAI group. Nutritionally, the CAI food/beverage promotions were higher in fats, sugar, sodium and energy per 100 grams. A significantly greater proportion of the CAI food/beverage promotions were considered 'less healthy' compared to the non-CAI promotions. With the exception of the four corporations that did not market to children at all, the commitments that have been made in the CAI are not having a significant impact on the food and beverage marketing environment on television which is viewed by 10-12-year-olds.

  11. The gas and electric power markets opening in Europe, the implementation of the regulation authorities

    International Nuclear Information System (INIS)

    2001-12-01

    Because the gas and the electric power are not simple goods, the opening of their market needs a whole reflexion where the governments must be involved. To analyse this opening, this report presents in a first part the traditional organization of the gas and electric power sectors marked by the strong presence of the government and the end of this organization at the end of the years 1980. It details then the new regulation, the operators and the effects of the competition. In a last part it provides propositions for the institutional framework in France. (A.L.B.)

  12. Strategies of diversification in regulated energy markets: the natural gas and electric power industries in Mexico

    Energy Technology Data Exchange (ETDEWEB)

    Bazan Gonzalez, Gerado; Elizalde Baltierra, Alberto; Eibenschutz Hartman, Juan

    2007-07-01

    The aim of this work is to show a structured and systematic approach to analyze the strategies of diversification undertaken by the State-owned companies Petroleos Mexicanos and Comision Federal de Electricidad, during the period 1938-2006, in the Mexican energy market that has been strongly dominated by the State control. Furthermore, we explore the future of these strategies by using a Strengthens, Weaknesses, Opportunities and Threats (SWOT) matrix. This analyze also include changes in regulation that should happen in order to consolidated the proposed strategies. (auth)

  13. Regulation of CO2 markets. Report of the mission entrusted to Michel PRADA, honorary Finance general inspector

    International Nuclear Information System (INIS)

    2009-01-01

    This report first discusses the current operation of the CO 2 emission permit European market and notices that its development took place in a context characterized by a light, incomplete and heterogeneous regulation, and that it therefore needs a better framework to make a carbon price emerge which will be robust on a long term in Europe. It shows that this market is presently mainly a by-product market and must be better structured. It highlights the uncertainty due to the lack of a homogeneous law qualification of CO 2 emission permits. It stresses the need of a stronger control of participants while preserving the open market principle, the need of a greater transparency and greater regulation stability, the implementation of a prevention and sanction framework. It proposes a quick setting up of a supervision architecture integrated to the CO 2 European market

  14. The Scenario Approach in the State Regulation of Addictive Goods Market

    Directory of Open Access Journals (Sweden)

    Roman Yuryevich Skokov

    2015-12-01

    Full Text Available The article presents alternative scenarios of the state regulation of the markets for addictive goods and services which include alcohol and alcohol-containing products, tobacco products, energy drinks, drugs, gambling games. The author reveals the content of inertial, modernizational, monopolistic and prohibitionist scenarios, and systematizes the effective measures which are used in the international practice of state regulation for reducing the number of challenges connected with the consumption of addictive goods and for adequate use of industrial capacities. The analysis conducted in the article touched upon the traditional practical measures on reducing shadow economic activity, realizing home-made products and substitutes, regulating the economic and physical availability, restricting advertising, sponsorship and sales promotion, as well as the measures aimed at the change of consumer behavior in the conditions associated with increased risk, prevention, diagnosis, treatment and rehabilitation. It is determined that none of these measures is not implemented to the full extent in Russia because they are used under the conditions of informal and shadow offers, corruption in government bodies, lobbying, administrative barriers and low-level administrative and business ethics. The author composed a rating of measures effectiveness under alternative scenarios. On the basis of this analysis and the assessment of the development and status of modern society, the theory and practice of regulating addictive goods markets, the conclusion was made about the socio-economic advantages of the state monopoly which allows to minimize the private interest in increasing sales and gaining over-profits, adequately reflects the public interest, standardizes and unifies physical and economic accessibility of these goods and services, proves its efficiency in domestic practice and the experience of Scandinavian countries.

  15. Limits of an "Energy Union": only pragmatic progress on EU energy market regulation expected in the coming months

    OpenAIRE

    Fischer, Severin; Geden, Oliver

    2015-01-01

    Since the Juncker Commission took office in late 2014, the idea of an »Energy Union« has been a central theme of the EU energy policy debate. Today, the Energy Union concept covers every area of current European energy and climate policy. Its primary objective is to create a coherent, overarching policy framework. From a political perspective, the Commission’s aim is to prevent any further renationalization of energy policy. But although the Member State governments constantly refer to the en...

  16. Is the medical loss ratio a good target measure for regulation in the individual market for health insurance?

    Science.gov (United States)

    Karaca-Mandic, Pinar; Abraham, Jean M; Simon, Kosali

    2015-01-01

    Effective January 1, 2011, individual market health insurers must meet a minimum medical loss ratio (MLR) of 80%. This law aims to encourage 'productive' forms of competition by increasing the proportion of premium dollars spent on clinical benefits. To date, very little is known about the performance of firms in the individual health insurance market, including how MLRs are related to insurer and market characteristics. The MLR comprises one component of the price-cost margin, a traditional gauge of market power; the other component is percent of premiums spent on administrative expenses. We use data from the National Association of Insurance Commissioners (2001-2009) to evaluate whether the MLR is a good target measure for regulation by comparing the two components of the price-cost margin between markets that are more competitive versus those that are not, accounting for firm and market characteristics. We find that insurers with monopoly power have lower MLRs. Moreover, we find no evidence suggesting that insurers' administrative expenses are lower in more concentrated insurance markets. Thus, our results are largely consistent with the interpretation that the MLR could serve as a target measure of market power in regulating the individual market for health insurance but with notable limited ability to capture product and firm heterogeneity. Copyright © 2013 John Wiley & Sons, Ltd.

  17. The Behavioural Law and Economics of the Precautionary Principle in the EU and Its Impact on Internal Market Regulation

    NARCIS (Netherlands)

    Purnhagen, K.

    2014-01-01

    The precautionary principle contributes to “the social” of internal market regulation as it counterbalances the loss aversion and availability bias of regulators who may too hastily endorse measures based to further the fundamental freedoms instead of fundamental rights and environmental protection.

  18. The Porta Palazzo farmers’ market: local food, regulations and changing traditions

    Directory of Open Access Journals (Sweden)

    Rachel Eden Black

    2005-05-01

    Full Text Available Cet article s’intéresse à l’impact des réglementations sur les marchés de producteurs en Italie, ainsi qu’à l’approvisionnement local et les choix du consommateur. En regardant la vie quotidienne du marché, on réalise que les réglementations ne sont pas seulement imposées, mais aussi négociées et interprétées en fonction des besoins locaux. Des changements dans les attitudes concernant l’hygiène des aliments dévoilent un discours sur la modernité et met en valeur la lutte de la nouvelle Italie pour s’adapter à une société de plus en plus « consumériste »tout en cherchant à garder les traditions et l’ alimentation locale. Malgré la compétition des hypermarchés et les réglementations de plus en plus restrictives, les marchés de producteurs ont une clientèle très fidèle et la plus jeune génération a commencé à s’intéresser à l’alimentation produite localement. Ce nouveau groupe a en plus un grand désir de participer à la vie sociale du marché, aspect qui rend ces institutions publiques uniques.This article looks at the impact of regulations on farmers’ markets in Italy, local food supply and provisioning choices. By exploring the everyday running of the market, it becomes clear that regulations are not just imposed, but rather negotiated and interpreted to fit local needs. Changing attitudes towards food hygiene also uncover discourses of modernity and struggles to adapt to the new Italian ‘consumer society’ while holding onto tradition and local food. Despite competition from supermarkets and increasingly restrictive regulations, farmers’ markets in Italy have a faithful core group of clients and interest is slowly growing on the part of a young generation who want to eat locally and share in the social life of the market.

  19. Agent-based Modeling Simulation Analysis on the Regulation of Institutional Investor's Encroachment Behavior in Stock Market

    Directory of Open Access Journals (Sweden)

    Yang Li

    2014-05-01

    Full Text Available Purpose: This study explores the effective regulation of institutional investor's encroachment behavior in stock market. Given the theoretical and practical importance, the present study examines the effect of the self-adaptive regulation strategy (adjusting the regulation factors such as punishment and the probability of investigating successfully in time for the sake of the small & medium-sized investor protection.Design/methodology/approach: This study was carried out through game theory and agent-based modeling simulation. Firstly, a dynamic game model was built to search the core factors of regulation and the equilibrium paths. Secondly, an agent-based modeling simulation model was built in Swarm to extend the game model. Finally, a simulation experiment (using virtual parameter values was performed to examine the effect of regulation strategy obtained form game model.Findings: The results of this study showed that the core factors of avoiding the institutional investor's encroachment behavior are the punishment and the probability of investigating successfully of the regulator. The core factors embody as the self-adaptability and the capability of regulator. If the regulator can adjust the regulation factors in time, the illegal behaviors will be avoided effectively.Research limitations/implications: The simulation experiment in this paper was performed with virtual parameter values. Although the results of experiment showed the effect of self-adaptive regulation, there are still some differences between simulation experiment and real market situation.Originality/value: The purpose of this study is to investigate an effective regulation strategy of institutional investor's encroachment behavior in stock market in order to maintain market order and protect the benefits of investors. Base on the game model and simulation model, a simulation experiment was preformed and the result showed that the self-adaptive regulation would be effective

  20. Health consumers and stem cell therapy innovation: markets, models and regulation.

    Science.gov (United States)

    Salter, Brian; Zhou, Yinhua; Datta, Saheli

    2014-05-01

    Global health consumer demand for stem cell therapies is vibrant, but the supply of treatments from the conventional science-based model of innovation is small and unlikely to increase in the near future. At the same time, several models of medical innovation have emerged that can respond to the demand, often employing a transnational value chain to deliver the product. Much of the commentary has approached the issue from a supply side perspective, demonstrating the extent to which national and transnational regulation fails to impose what are regarded as appropriate standards on the 'illicit' supply of stem cell therapies characterized by little data and poor outcomes. By contrast, this article presents a political economic analysis with a strong demand side perspective, arguing that the problem of what is termed 'stem cell tourism' is embedded in the demand-supply relationship of the health consumer market and its engagement with different types of stem cell therapy innovation. To be meaningful, discussions of regulation must recognize that analysis or risk being sidelined by a market, which ignores their often wishful thinking.

  1. Nano-food packaging: an overview of market, migration research, and safety regulations.

    Science.gov (United States)

    Bumbudsanpharoke, Nattinee; Ko, Seonghyuk

    2015-05-01

    Recently, food packages produced with nanoparticles, "nano-food packaging," have become more available in the current market. However, although the use of nanomaterials is increasing in food packaging applications, concern over toxicity affects consumer perceptions and acceptance. Quite a number of commercialized forms of nano-food packaging are coated or composited product with inorganic materials, for example, nanosilver and nanoclay as representative examples. Several studies have shown the possibility of nanomaterial migration from packaging or containers to foodstuff. The debate is still ongoing among researchers about the extent of migration and whether it is negligible and safe. Government agencies and stakeholders must hurry to determine use limitations and release conclusive legislation and regulations as soon as possible since nano-food packaging may have great impacts on human health. This paper aims to review the availability of nano-food packaging in the current market, report case studies on nanomaterial migration, and present the current status of safety regulations and management of nano-food packaging in leading countries across regions. This review should enable governments and researchers to develop further nanomaterial risk assessment studies. © 2015 Institute of Food Technologists®

  2. State of play in direct-to-consumer genetic testing for lifestyle-related diseases: market, marketing content, user experiences and regulation.

    Science.gov (United States)

    Saukko, Paula

    2013-02-01

    Direct-to-consumer (DTC) genetic tests have aroused controversy. Critics have argued many of the tests are not backed by scientific evidence, misguide their customers and should be regulated more stringently. Proponents suggest that finding out genetic susceptibilities for diseases could encourage healthier behaviours and makes the results of genetics research available to the public. This paper reviews the state of play in DTC genetic testing, focusing on tests identifying susceptibilities for lifestyle-related diseases. It will start with mapping the market for the tests. The paper will review (1) research on the content of the online marketing of DTC tests, (2) studies on the effects of DTC genetic tests on customers and (3) academic and policy proposals on how to regulate the tests. Current studies suggest that the marketing of DTC genetic tests often exaggerates their predictive powers, which could misguide consumers. However, research indicates that the tests do not seem to have major negative effects (worry and confusion) but neither do they engender positive effects (lifestyle change) on current users. Research on regulation of the tests has most commonly suggested regulating the marketing claims of the companies. In conclusion, the risks and benefits of DTC genetic tests are less significant than what has been predicted by critics and proponents, which will be argued reflects broader historical trends transforming health and medicine.

  3. Safety Margins and Their Economical Value in a De-regulated Market

    International Nuclear Information System (INIS)

    Vidard, Michel

    2002-01-01

    The definition of safety margins is sometimes ambiguous. Depending on assumptions used to evaluate the evolution of plant parameters and on acceptance criteria, the same design could well turn out to have positive, zero, or negative margin for the same operating situation. Very often, considering that an optimized reactor would have to operate with zero margin compared to at least one safety criterion, designers or utilities considered in their analyses penalizing assumptions. This was done for example either considering reduced component capability or very high core peaking factors, the latter generally exceeding by far what would be anticipated in perturbed situations. This approach has three major drawbacks: -having a reasonable understanding of the real importance of safety margins is difficult, -if a non-conservatism is identified in a methodology, there is a high risk of being in a no-compliance situation from a regulatory standpoint, -it leads to a limitation on allowable electrical output and constraints on technical specifications for example. In a regulated market, such a situation can be tolerable as the final customer has to pay the extra financial burden in any case. In a de-regulated market, the situation is significantly different. The final customer can choose his supplier, and is likely to go to those offering the best prices, i.e. those making optimal use of their available resources. There is so a need for better understanding of real plant capabilities. Revisiting assumptions used for evaluating safety margins is so highly recommended, if not imperative, to electricity companies. This will helpful to reshape company strategies in case of evolution of market conditions. (author)

  4. The influence of the European paediatric regulation on marketing authorisation of orphan drugs for children.

    Science.gov (United States)

    Kreeftmeijer-Vegter, Annemarie Rosan; de Boer, Anthonius; van der Vlugt-Meijer, Roselinda H; de Vries, Peter J

    2014-08-05

    Drug development for rare diseases is challenging, especially when these orphan drugs (OD) are intended for children. In 2007 the EU Paediatric Drug Regulation was enacted to improve the development of high quality and ethically researched medicines for children through the establishment of Paediatric Investigation Plans (PIPs). The effect of the EU Paediatric Drug Regulation on the marketing authorisation (MA) of drugs for children with rare diseases was studied. Data on all designated orphan drugs, their indication, MA, PIPs and indication group (adult or child) were obtained from the European Medicines Agency (EMA). The outcome and duration of the process from orphan drug designation (ODD) to MA, was compared, per indication, by age group. The effect of the Paediatric Drug Regulation, implemented in 2007, on the application process was assessed with survival analysis. Eighty-one orphan drugs obtained MA since 2000 and half are authorised for (a subgroup of) children; another 34 are currently undergoing further investigations in children through agreed PIPs. The Paediatric Drug Regulation did not significantly increase the number of ODDs with potential paediatric indications (58% before vs 64% after 2007 of ODDs, p = 0.1) and did not lead to more MAs for ODs with paediatric indications (60% vs 43%, p = 0.22). ODs authorised after 2007 had a longer time to MA than those authorised before 2007 (Hazard ratio (95% CI) 2.80 (1.84-4.28), p < 0.001); potential paediatric use did not influence the time to MA (Hazard ratio (95% CI) 1.14 (0.77-1.70), p = 0.52). The EU Paediatric Drug Regulation had a minor impact on development and availability of ODs for children, was associated with a longer time to MA, but ensured the further paediatric development of drugs still off-label to children. The impact of the Paediatric Drug Regulation on research quantity and quality in children through PIPs is not yet clear.

  5. Regulating Market Entry of Low-Cost Private Schools in Sub-Saharan Africa : Towards a Theory of Private Education Regulation

    OpenAIRE

    Baum, Donald R.; Cooper, Rachel; Lusk-Stover, Oni

    2018-01-01

    This study provides a comparative assessment of policies governing private schools in twenty countries in Sub-Saharan Africa. Findings suggest that current regulatory systems are failing to adequately address the negative externalities and failures of private schooling markets. Insufficient capacity on the part of governments is a contributor to uneven policy implementation and creates opportunities for rent-seeking and corruption. Onerous market entry regulations offer constraints on the gro...

  6. A Historical Overview of the Regulation of Market Abuse in South ...

    African Journals Online (AJOL)

    In an early attempt to combat market abuse in the South African financial markets, legislation such as the Companies Act, the Financial Markets Control Act and the Stock Exchanges Control Act were enacted. However, these Acts failed to effectively curb market abuse activities that were allegedly rife in the financial markets.

  7. Legal market abuse regulations of WpHG (law on stock trading) and the REMIT-VO in the electricity spot trading; Marktmissbrauchsrechtliche Regelungen des WpHG und der REMIT-VO im Stromspothandel

    Energy Technology Data Exchange (ETDEWEB)

    Retsch, Alexander T.

    2014-07-01

    The thesis on legal market abuse regulations of WpHG (law on stock trading) and the REMIT-VO in the electricity spot trading include the discussion of the following issues: market abuse, its forms of appearance (market manipulation, insider trade, insider information), electricity spot trading, relevant legislative frame, market abuse regulations (WpHG), interdiction of market manipulation and related regulations.

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

    Science.gov (United States)

    Houde, Jean-Francois

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

  9. Children's recall of fast food television advertising-testing the adequacy of food marketing regulation.

    Science.gov (United States)

    Bernhardt, Amy M; Wilking, Cara; Gilbert-Diamond, Diane; Emond, Jennifer A; Sargent, James D

    2015-01-01

    In the United States, the fast food companies McDonald's and Burger King participate in marketing self-regulation programs that aim to limit emphasis on premiums and promote emphasis of healthy food choices. We determine what children recall from fast food television advertisements aired by these companies. One hundred children aged 3-7 years were shown McDonald's and Burger King children's (MDC & BKC) and adult (MDA & BKA) meal ads, randomly drawn from ads that aired on national US television from 2010-11. Immediately after seeing the ad, children were asked to recall what they had seen and transcripts evaluated for descriptors of food, healthy food (apples or milk), and premiums/tie-ins. Premiums/tie-ins were common in children's but rarely appeared in adult ads, and all children's ads contained images of healthy foods (apples and milk). Participants were significantly less likely to recall any food after viewing the children's vs. the adult ad (MDC 32% [95% confidence interval 23, 41] vs. MDA 68% [59, 77]) p advertising indicate that industry self-regulation failed to achieve a de-emphasis on toy premiums and tie-ins and did not adequately communicate healthy menu choices. The methods devised for this study could be used to monitor and better regulate advertising patterns of practice.

  10. Television food marketing to children revisited: the Federal Trade Commission has the constitutional and statutory authority to regulate.

    Science.gov (United States)

    Pomeranz, Jennifer L

    2010-01-01

    The evidence reveals that young children are targeted by food and beverage advertisers but are unable to comprehend the commercial context and persuasive intent of marketing. Although the First Amendment protects commercial speech, it does not protect deceptive and misleading speech for profit. Marketing directed at children may fall into this category of unprotected speech. Further, children do not have the same First Amendment right to receive speech as adults. For the first time since the Federal Trade Commission's original attempt to regulate marketing to children in the 1970s (termed KidVid), the political, scientific, and legal climate coalesce to make the time well-suited to reevaluate the FTC's authority for action. This paper analyzes the constitutional authority for the FTC to regulate television food marketing directed at children as deceptive in light of the most robust public health evidence on the subject.

  11. The Transformation of Swedish Shipping, 1970-2010: Markets, regulation, strategies and know-how

    DEFF Research Database (Denmark)

    Sjögren, Hans; Lennerfors, Thomas Taro; Poulsen, René Taudal

    2012-01-01

    of shipping markets, shipping regulations, company strategies, maritime know-how, and financial resources on the development of Swedish shipping from 1970 to 2010. A comparison is made between, on the one hand, the direction taken by two failing companies and, on the other, the courses followed by two......Since the early 1970s, as shipping has undergone a period of structural change, Swedish shipping has rapidly declined from a position of global importance. The Swedish-controlled fleet has dwindled, and the structure of the industry itself has changed. This article explores the influence...... companies that managed to grow despite difficult conditions. On a broader level, the article traces the development of expertise in a declining industry....

  12. Food marketing targeting children: unveiling the ethical perspectives in the discourse on self-regulation.

    Science.gov (United States)

    Silva, Dillian Adelaine Cesar da; Cunha, Antonio Carlos Rodrigues da; Cunha, Thiago Rocha da; Rosaneli, Caroline Filla

    2017-07-01

    When it comes to food marketing, children are one of the major targets. Regulatory actions can play a strategic role in health protection. The objective of this research was to characterize the ethical perspective in the discourse against state regulatory actions on food marketing directed at children, aiming to understand the context of the discourse's production and how it creates meaning. The methodology adopted was qualitative, with documentary analysis and use of concepts and procedures from Discourse Analysis. The work of Hans Jonas, specifically his Responsibility Principle, and Garrafa and Port's Intervention Bioethics oriented the analysis. The self-regulation discourse analysis showed an ethical perspective in which relations of consumption predominate over the children´s vulnerability. The rhetorical excess is constant, as well as the use of resources like naturalization, untruthfulness, ideological dissimulation and euphemism. An erasure of social conflicts takes place, and an ahistorical perspective is present. The discourse does not align with Jonas´ Responsibility Principle, nor those of Intervention Bioethics. Lastly, the ethical perspective of the discourse represents a double paradox, because it is a business discourse that hides its competitive roots and metamorphoses into an ethical one.

  13. Regulation and market power in the Spanish liquefied petroleum gas industry: Progress or failure?

    International Nuclear Information System (INIS)

    Bello, Alejandro; Huerta, Emilio

    2007-01-01

    This paper presents a detailed study of the structure, market power and competition in the distribution sector for liquefied petroleum gas (LPG), within Spain. It is a segment of energy consumption and supply that is not often given serious attention, despite the fact that LPG is a crucial source of energy to many households, in many countries in Europe and in the rest of the world. Despite formally being an open and liberalized sector, the Spanish LPG market is characterized by high concentration within the industry; Repsol Butano, the dominant operator, practically controls the entire value chain. These structural characteristics probably justify state intervention in the form of price fixing, in order to guarantee accessible prices for final consumers. Nevertheless, applying this tool has had negative effects on the opening and liberalization process. On the one hand, it fails to encourage entry or an increase in the participation of new operators; on the other, it has considerably deteriorated the economic and financial performance of the distribution agents that are subjected to two strong forces. First, the dominant operator looks after its own interests and its income; and second, the Government tries to defend the interests of final consumers by fixing prices that inadequately remunerate the activity. This shows the contradictory regulatory actions that try to promote competition, and then establish mechanisms to regulate activity by fixing prices that act as price limits. These government set prices discourage new competitors from entering. (author)

  14. Regulation and market power in the Spanish liquefied petroleum gas industry: Progress or failure?

    Energy Technology Data Exchange (ETDEWEB)

    Bello, Alejandro; Huerta, Emilio [Departamento de Gestion de Empresas, Universidad Publica de Navarra, Campus de Arrosadia, 31006 Pamplona, Navarra (Spain)

    2007-07-15

    This paper presents a detailed study of the structure, market power and competition in the distribution sector for liquefied petroleum gas (LPG), within Spain. It is a segment of energy consumption and supply that is not often given serious attention, despite the fact that LPG is a crucial source of energy to many households, in many countries in Europe and in the rest of the world. Despite formally being an open and liberalized sector, the Spanish LPG market is characterized by high concentration within the industry; Repsol Butano, the dominant operator, practically controls the entire value chain. These structural characteristics probably justify state intervention in the form of price fixing, in order to guarantee accessible prices for final consumers. Nevertheless, applying this tool has had negative effects on the opening and liberalization process. On the one hand, it fails to encourage entry or an increase in the participation of new operators; on the other, it has considerably deteriorated the economic and financial performance of the distribution agents that are subjected to two strong forces. First, the dominant operator looks after its own interests and its income; and second, the Government tries to defend the interests of final consumers by fixing prices that inadequately remunerate the activity. This shows the contradictory regulatory actions that try to promote competition, and then establish mechanisms to regulate activity by fixing prices that act as price limits. These government set prices discourage new competitors from entering. (author)

  15. Market regulation in Central America and Bit-Energy.CEL as tool for improving the self regulating forces for a liberalised market

    International Nuclear Information System (INIS)

    Reisinger, H.; Reuter, A.; Dulle, H.

    2002-01-01

    Following a power purchase agreement for constructing new generation capacity, the privatisation of the distribution and thermal generation assets, as well as a separation of the transmission assets from the hydro power generation assets, the government of El Salvador by 1998 decided to proceed with market liberalisation by establishing a day-ahead spot market. This spot market covers not only 40 percent of the total electricity demand but also determines the price for the remaining 60 percent, which are directly contracted between distribution companies and large final consumers on the one side and the power generators on the other side.With only 4 thermal generators and 1 hydro power generator supplying the market, the total construction, right from the beginning suffered from lack of competition. This was especially true in spring 2000 when all the water from the hydro power reservoirs was used up. The result was a price hike, similar to the one experienced later in California. The reaction of the government of El Salvador was to induce 'private' agreements among the generators not to go beyond a certain price limit and to make the still nationalised hydro power generator pay for that agreement. In addition to that the hydro power generator received the responsibility to keep the total market price at a certain monthly average.As the thermal generators could anticipate the offered strategy of the hydro power generator they also could make use of this construction and considerably increase their profits. The hydro power generator on the other hand loses more and more market control and must use up all its water for keeping the prices low. The way out of this situation, which in the long run, inevitably would lead to an inefficient market comprises following 5 measures all aimed at fostering the competition within the market: 1. the construction of an additional transmission line for strengthening the power exchange capacity with neighbouring countries; 2. the

  16. Hydropower planning coordinated with wind power in areas with congestion problems for trading on the spot and the regulating market

    International Nuclear Information System (INIS)

    Matevosyan, Julija; Olsson, Magnus; Soeder, Lennart

    2009-01-01

    In this paper a day-ahead planning algorithm for a multi-reservoir hydropower system coordinated with wind power is developed. Coordination applies to real situations, where wind power and hydropower are owned by different utilities, sharing the same transmission lines, though hydropower has priority for transmission capacity. Coordination is thus necessary to minimize wind energy curtailments during congestion situations. The planning algorithm accounts for the uncertainty of wind power forecasts and power market price uncertainty. Planning for the spot market and the regulating market is considered in the algorithm. The planning algorithm is applied to a case study and the results are summarized in the paper. (author)

  17. Regulation of distributed generation. A European Policy Paper on the Integration of Distributed Generation in the Internal Electricity Market

    International Nuclear Information System (INIS)

    Van Sambeek, E.J.W.; Scheepers, M.J.J.

    2004-06-01

    In the SUSTELNET project criteria and guidelines have been developed that can create a level playing field in electricity markets between distributed generation (DG) and large scale power generation and will improve the network and market access of DG and electricity supply from renewable energy resources (RES). This report focuses on the European dimensions of DG regulation. The key findings of the SUSTELNET project are compared with the EU legislation, i.e. the current Electricity, Renewables and CHP Directives. Additional EU policy, regulation and initiatives are identified that can help Member States in developing future economically efficient and sustainable electricity supply systems

  18. Comments on the paper ''Market forces and planning by regulation: conflicts and complementarities'' by Rodney Stevensopn and Dennis Ray

    Energy Technology Data Exchange (ETDEWEB)

    Voll, S P [New Hampshire Public Utilities Commission, Concord, NH (United States)

    1993-10-01

    The conflict between reliance on competitive markets and insistence on least-cost integrated planning highlights a fundamental difference in ideology, approach to regulation and assessment of the nature of the regulated industries that has developed between federal agencies and the state commissions in the USA in the last decade. While the conflict exists in the gas and telephone industries, and indeed would manifest itself in any industry subject to regulation at both the federal and state level, it is most apparent in the regulated electricity industry. The federal agencies (for electricity regulation the Federal Energy Regulatory Commission (FERC)) view the state commissions as hopelessly old-fashioned in their attachment to traditional bureaucratic regulation; state regulators can argue that FERC has an unrealistic assessment of the nature of the electricity industry and an unfortunate indifference to the fate of captive ratepayers. (author)

  19. 78 FR 9330 - Revision of Regulations Defining Bona Fide Cotton Spot Markets

    Science.gov (United States)

    2013-02-08

    ... Cotton Spot Markets AGENCY: Agricultural Marketing Service, USDA. ACTION: Proposed rule. SUMMARY: The... bona fide cotton spot markets in order to assure consistency with the revised Cotton Research and Promotion Act. Updated bona fide spot market definitions will allow for published spot quotes to consider...

  20. Public service broadcasting (PSB regulation in Indonesia: Between market and public interest

    Directory of Open Access Journals (Sweden)

    Masduki

    2017-01-01

    Full Text Available The reform of public service broadcasting (PSB faces many obstacles in countries with political transition such as Indonesia. After 1998-political change, the arrival of ideas to establish PSB in Indonesia in two decades lacks of appropriate policies. As in other transitional states in Eastern Europe, there is the lack of regulatory design as well as its implementation. This paper examines process of formulating PSB law in 2002, particularly pays attention to industry capture over the making process as a critical tool to observe a long-controvercial of broadcasting law revision process in Indonesia (2012-2016. By use public interest and capture theories in regulation, this paper answers why the outcome of PSB regulation is weak by observing how the law was made. This study provides new analysis on PSB media law that still rare in Indonesia. As independent and non-profit body, Indonesian PSB represented by RRI (Radio of the Republic Indonesia and TVRI (Television of the Republic Indonesia is protected by Broadcasting Act.32/2002. It was enacted in favor of two actors: authoritarian officials with interest to use PSB as their mouthpiece in one side and the industry groups with interest to apply free market policy on the other.

  1. Economic analysis of photovoltaic systems for the residential market under China's new regulation

    International Nuclear Information System (INIS)

    Rodrigues, Sandy; Chen, Xiaoju; Morgado-Dias, F.

    2017-01-01

    China has recently changed its regulation for producing energy from photovoltaic solar panels in order to encourage the use of the solar resource. This new regulation started with offering subsidies at a national level and this was later followed by local subsidies in addition to the national one. Being a large country, China has regions with good solar exposure and others with poor exposure. Each region has a different electricity price and the energy is purchased based on the Grid Coal Power electricity price that also varies throughout the country. In this work we analyze the economic profitability of different regions considering the solar radiation levels, savings in self-consumption, cash flows from injecting power into the grid and local prices for installations to show that the best return is obtained in the places with better solar radiation or where the electricity price is higher. The regional Feed-In tariffs help to compensate for lower radiation levels but do not make these regions very attractive from an investment perspective. - Highlights: • Summarizes national and local feed in tariffs for China for the residential market. • Provides average local prices for 1 kW, 3 kW and 5 kW photovoltaic installations. • Selects city with best IRR, NPV and DPBP based on prices, subsidies and radiation. • Performs sensitivity analysis to check which parameter has more effect on results.

  2. Children's recall of fast food television advertising-testing the adequacy of food marketing regulation.

    Directory of Open Access Journals (Sweden)

    Amy M Bernhardt

    Full Text Available In the United States, the fast food companies McDonald's and Burger King participate in marketing self-regulation programs that aim to limit emphasis on premiums and promote emphasis of healthy food choices. We determine what children recall from fast food television advertisements aired by these companies.One hundred children aged 3-7 years were shown McDonald's and Burger King children's (MDC & BKC and adult (MDA & BKA meal ads, randomly drawn from ads that aired on national US television from 2010-11. Immediately after seeing the ad, children were asked to recall what they had seen and transcripts evaluated for descriptors of food, healthy food (apples or milk, and premiums/tie-ins.Premiums/tie-ins were common in children's but rarely appeared in adult ads, and all children's ads contained images of healthy foods (apples and milk. Participants were significantly less likely to recall any food after viewing the children's vs. the adult ad (MDC 32% [95% confidence interval 23, 41] vs. MDA 68% [59, 77] p <0.001; BKC 46% [39, 56] vs. BKA 67% [58, 76] respectively, p = 0.002. For children's ads alone and for both restaurants, recall frequency for all food was not significantly different from premium/tie-ins, and participants were significantly more likely to recall other food items than apples or milk. Moreover, premiums/tie-ins were recalled much more frequently than healthy food (MDC 45% [35, 55] vs. 9% [3, 15] p<0.001; BKC 54% [44, 64] vs. 2% [0, 5] respectively, p<0.001.Children's net impressions of television fast food advertising indicate that industry self-regulation failed to achieve a de-emphasis on toy premiums and tie-ins and did not adequately communicate healthy menu choices. The methods devised for this study could be used to monitor and better regulate advertising patterns of practice.

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

    International Nuclear Information System (INIS)

    David, L.; Mirabel, F.

    2000-06-01

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

  4. Self-regulation and the response to concerns about food and beverage marketing to children in the United States.

    Science.gov (United States)

    Wilde, Parke

    2009-03-01

    The Institute of Medicine reported in 2005 that food and beverage marketing to children and youth is "out of balance with healthful diets". The dominant policy response in the United States has been to encourage self-regulation by the food, beverage, advertising, and media industries. From a nutrition perspective, this deference to the private sector may seem surprising. This article reviews current economic and legal perspectives on food marketing to children that are motivating the policy decision to attempt a period of self-regulation. The empirical literature on this topic has been reinvigorated by new data on marketing practices and expenditures. The article concludes by considering whether more directive policies are possible in the future.

  5. The Market Value of Who We Are: The Flow of Personal Data and Its Regulation in China

    Directory of Open Access Journals (Sweden)

    Dong Han

    2017-04-01

    Full Text Available This article focuses on market-driven collection of personal data and its regulation in China. It argues that there is a growing demand for personal data from China’s advertising, marketing, and credit reporting businesses. Meanwhile, the rapid development of the Internet, notably social media and e-commerce, has generated very large pools of personal data on digital platforms. These two factors contribute to the fast growth of both legitimate and illegitimate collection and exploitation of personal information. Chinese laws and regulations lag behind the market and are not ready to regulate personal data as a key economic resource. They scatter in a wide array of economic and social sectors and lack a coherent structure and effective enforcement mechanism. Unspecified overarching rationale, ambivalent market regulation, inadequate enforcement, as well as safety risks of governmental databases are problems that hinder the protection of personal data in China. The role and implications of the new Internet Security Law, entering into force in June 2017, remain to be seen.

  6. 76 FR 61933 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Revision of...

    Science.gov (United States)

    2011-10-06

    ..., 733,877 pounds of Scotch spearmint oil have already been sold or committed, which leaves just 186,505... of essential oils and the products of essential oils. In addition, the Committee estimates that 8 of...-1A IR] Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Revision of...

  7. Competition compliant wholesale electricity prices. An examination of the regulation on the integrity and transparency of wholesale energy market

    International Nuclear Information System (INIS)

    Konar, Selma

    2015-01-01

    The development of wholesale electricity prices showed in recent years a very fluctuating course. The starting point for ensuring competitive compliant electricity prices have uniform rules that establish effective competition in the overall wholesale electricity, ensure greater transparency in the market and prohibit market abuse influence exercised on the wholesale price. The REMIT regulation creates a first union-law rules to this standardized specifications. The volume first examines the transparency, competitiveness, and supervisory structures in the wholesale electricity before legislating a regulation. It is clear, as the transparency and supervisory structures should be designed from the wholesale electricity ideally. On this basis, the work is dealing with the REMIT regulation. The author works out to market participants relevant notification and publication requirements, the follow-up demands on the company as well as the now existing prohibitions on market abuse and the related penalty catalog and analyze the supervisory structures newly created in the wholesale electricity. Here, the work also identified the weaknesses of the regulation and shows suitable solution approaches. [de

  8. Pengaruh Downside Beta, Upside Beta, Dan Beta Terhadap Expected Return (Studi Pada Saham Yang Termasuk Dalam 50 Leading Market Capitalization Di Bursa Efek Indonesia Periode 2012-2015)

    OpenAIRE

    Sinaga, Maria Goretty; Sulasmiyati, Sri

    2017-01-01

    Return or return on an investment is required by the investor. Most investors currently prefer shares in emerging markets. Return in the emerging market is not always symmetrical, it shows return in the emerging market is not normally distributed. The purposive of this research want to learn, compare, and explain about some model of stock risk. On this research downside risk expressed with beta downside. The models used in this research among others, dowside beta, upside beta, and beta. The k...

  9. The Regulation of Market Manipulation in Australia: A Historical Comparative Perspective

    Directory of Open Access Journals (Sweden)

    Howard Chitimira

    2015-07-01

    Full Text Available Notably, in Australia, market abuse practices like market manipulation and other market misconduct practices are expressly prohibited under the Corporations Act as amended by the Financial Services Reform Act. In the light of this, and for the purposes of this article, a brief historical analysis of the market manipulation prohibition will be presented first. Secondly, the available penalties and remedies for market manipulation are discussed. Thereafter, possible recommendations and significant Australian anti-market abuse enforcement approaches that may be utilised in South Africa are briefly stated. Lastly, concluding remarks are provided.

  10. Expecting the holistic regulation from Chinese medicine based on the "solar system" hypothesis of ischemic heart disease.

    Science.gov (United States)

    Luo, Jing; Wang, An-Lu; Xu, Hao; Shi, Da-Zhuo; Chen, Ke-Ji

    2016-11-01

    Stenosis of the coronary artery has been considered as an essential component of ischemic heart disease (IHD). Consequently, revascularization [e.g., percutaneous coronary intervention (PCI) and coronary artery bypass] has been the primary therapeutic approach to IHD. Such strategy has indeed revolutionized the management of IHD patients. However, not all patients with myocardial ischemia have visible coronary stenosis. Moreover, cardiovascular events occur in nearly 20% patients with stable coronary artery disease who have undergone PCI. The recently proposed "solar system" hypothesis of IHD postulates that coronary stenosis is only one (albeit important) of its features. Mechanistic contribution and clinical implication of multiple pathophysiological processes beyond coronary stenosis are highlighted in this hypothesis. On the basis of a holistic regulation and individualized medicine, Chinese medicine (CM) has been used in the real-world setting to manage a variety of diseases, including IHD, for more than two thousands years. In this article, we summarize the evidence of CM that supports the "solar system" IHD hypothesis, and argue for a comprehensive approach to IHD. At the theoretical level, the central features of this approach include a holistic view of disease and human subjects, as well as individualized medicine. At the practical level, this approach emphasizes anoxia-tolerance and self-healing.

  11. Hydro-Quebec opens up, expects positive reaction from FERC

    International Nuclear Information System (INIS)

    McArthur, D.; Salaff, S.

    1997-01-01

    Hydro-Quebec Energy Services US (HQUS), the marketing arm of Hydro-Quebec, amended its application for a power marketing licence with the Federal Energy Regulatory Commission (FERC), by offering to open up five per cent of the wholesale Quebec electricity market to competition. The Corporation hopes that its revised application will satisfy FERC to grant HQUS a power marketer licence, with the right to sell electricity in the US at market-based rates. Hydro-Quebec insiders believe that in addition to opening up the market to competition, thereby equalizing market conditions on both sides of the border, the Corporation's chances of receiving the licence also have been improved by the creation of the provincial energy board (Regie de l'energie) which in future will regulate electricity and gas transmission through Quebec, and establish transmission tariffs. FERC ruling is expected within 60 days of the March 7, 1997 amended application

  12. 75 FR 34277 - Federal Acquisition Regulation; FAR Case 2008-007, Additional Requirements for Market Research

    Science.gov (United States)

    2010-06-16

    ... executive agencies. Specifically, the head of the agency must conduct market research before issuing an... million for the procurement of items other than commercial items is required to conduct market research... 10 U.S.C. 2377(c), ``Preliminary Market Research'', to require the head of an agency to conduct...

  13. Modernising the regulation of medical migration: moving from national monopolies to international markets

    Science.gov (United States)

    2012-01-01

    Background Traditional top-down national regulation of internationally mobile doctors and nurses is fast being rendered obsolete by the speed of globalisation and digitisation. Here we propose a bottom-up system in which responsibility for hiring and accrediting overseas staff begins to be shared by medical employers, managers, and insurers. Discussion In this model, professional Boards would retain authority for disciplinary proceedings in response to local complaints, but would lose their present power of veto over foreign practitioners recruited by employers who have independently evaluated and approved such candidates' ability. Evaluations of this kind could be facilitated by globally accessible National Registers of professional work and conduct. A decentralised system of this kind could also dispense with time-consuming national oversight of continuing professional education and license revalidation, which tasks could be replaced over time by tighter institutional audit supported by stronger powers to terminate underperforming employees. Summary Market forces based on the reputation (and, hence, financial and political viability) of employers and institutions could continue to ensure patient safety in the future, while at the same time improving both national system efficiency and international professional mobility. PMID:23039098

  14. Modernising the regulation of medical migration: moving from national monopolies to international markets

    Directory of Open Access Journals (Sweden)

    Epstein Richard J

    2012-10-01

    Full Text Available Abstract Background Traditional top-down national regulation of internationally mobile doctors and nurses is fast being rendered obsolete by the speed of globalisation and digitisation. Here we propose a bottom-up system in which responsibility for hiring and accrediting overseas staff begins to be shared by medical employers, managers, and insurers. Discussion In this model, professional Boards would retain authority for disciplinary proceedings in response to local complaints, but would lose their present power of veto over foreign practitioners recruited by employers who have independently evaluated and approved such candidates' ability. Evaluations of this kind could be facilitated by globally accessible National Registers of professional work and conduct. A decentralised system of this kind could also dispense with time-consuming national oversight of continuing professional education and license revalidation, which tasks could be replaced over time by tighter institutional audit supported by stronger powers to terminate underperforming employees. Summary Market forces based on the reputation (and, hence, financial and political viability of employers and institutions could continue to ensure patient safety in the future, while at the same time improving both national system efficiency and international professional mobility.

  15. Status of market, regulation and research of genetically modified crops in Chile.

    Science.gov (United States)

    Sánchez, Miguel A; León, Gabriel

    2016-12-25

    Agricultural biotechnology and genetically modified (GM) crops are effective tools to substantially increase productivity, quality, and environmental sustainability in agricultural farming. Furthermore, they may contribute to improving the nutritional content of crops, addressing needs related to public health. Chile has become one of the most important global players for GM seed production for counter-season markets and research purposes. It has a comprehensive regulatory framework to carry out this activity, while at the same time there are numerous regulations from different agencies addressing several aspects related to GM crops. Despite imports of GM food/feed or ingredients for the food industry being allowed without restrictions, Chilean farmers are not using GM seeds for farming purposes because of a lack of clear guidelines. Chile is in a rather contradictory situation about GM crops. The country has invested considerable resources to fund research and development on GM crops, but the lack of clarity in the current regulatory situation precludes the use of such research to develop new products for Chilean farmers. Meanwhile, a larger scientific capacity regarding GM crop research continues to build up in the country. The present study maps and analyses the current regulatory environment for research and production of GM crops in Chile, providing an updated overview of the current status of GM seeds production, research and regulatory issues. Copyright © 2016 Elsevier B.V. All rights reserved.

  16. Modernising the regulation of medical migration: moving from national monopolies to international markets.

    Science.gov (United States)

    Epstein, Richard J; Epstein, Stephen D

    2012-10-05

    Traditional top-down national regulation of internationally mobile doctors and nurses is fast being rendered obsolete by the speed of globalisation and digitisation. Here we propose a bottom-up system in which responsibility for hiring and accrediting overseas staff begins to be shared by medical employers, managers, and insurers. In this model, professional Boards would retain authority for disciplinary proceedings in response to local complaints, but would lose their present power of veto over foreign practitioners recruited by employers who have independently evaluated and approved such candidates' ability. Evaluations of this kind could be facilitated by globally accessible National Registers of professional work and conduct. A decentralised system of this kind could also dispense with time-consuming national oversight of continuing professional education and license revalidation, which tasks could be replaced over time by tighter institutional audit supported by stronger powers to terminate underperforming employees. Market forces based on the reputation (and, hence, financial and political viability) of employers and institutions could continue to ensure patient safety in the future, while at the same time improving both national system efficiency and international professional mobility.

  17. The Qualitative Expectations Hypothesis

    DEFF Research Database (Denmark)

    Frydman, Roman; Johansen, Søren; Rahbek, Anders

    2017-01-01

    We introduce the Qualitative Expectations Hypothesis (QEH) as a new approach to modeling macroeconomic and financial outcomes. Building on John Muth's seminal insight underpinning the Rational Expectations Hypothesis (REH), QEH represents the market's forecasts to be consistent with the predictions...... of an economistís model. However, by assuming that outcomes lie within stochastic intervals, QEH, unlike REH, recognizes the ambiguity faced by an economist and market participants alike. Moreover, QEH leaves the model open to ambiguity by not specifying a mechanism determining specific values that outcomes take...

  18. The Qualitative Expectations Hypothesis

    DEFF Research Database (Denmark)

    Frydman, Roman; Johansen, Søren; Rahbek, Anders

    We introduce the Qualitative Expectations Hypothesis (QEH) as a new approach to modeling macroeconomic and financial outcomes. Building on John Muth's seminal insight underpinning the Rational Expectations Hypothesis (REH), QEH represents the market's forecasts to be consistent with the predictions...... of an economist's model. However, by assuming that outcomes lie within stochastic intervals, QEH, unlike REH, recognizes the ambiguity faced by an economist and market participants alike. Moreover, QEH leaves the model open to ambiguity by not specifying a mechanism determining specific values that outcomes take...

  19. Post-Marketing Regulation of Medicines Withdrawn from the Market Because of Drug-Attributed Deaths: An Analysis of Justification.

    Science.gov (United States)

    Onakpoya, Igho J; Heneghan, Carl J; Aronson, Jeffrey K

    2017-05-01

    Several medicinal products have been withdrawn from the market because of drug-attributed deaths. However, there has been no investigation of whether such withdrawals were justified, and the extent to which confirmatory studies are used to investigate drug-adverse event relationships when deaths are reported is uncertain. We documented medicinal products withdrawn from the market because of drug-attributed deaths, identified confirmatory studies investigating the drug-adverse event relationships, examined whether withdrawals of medicinal products because of drug-attributed deaths after marketing were justified based on a mechanistic analysis, and examined the trends over time. We searched electronic and non-electronic sources to identify medicinal products that were withdrawn because of drug-attributed deaths. We used a previously published algorithm to examine whether the withdrawals of products were justified. We then searched PubMed and Google Scholar to identify studies investigating the drug-adverse event relationships, used the Oxford Centre for Evidence-Based Medicine criteria to document the levels of evidence, and assessed whether the evidence of an association was confirmed. We included 83 medicinal products. The reasons for withdrawal appeared to have been justified in 80 cases (96%). The median interval between the first reported adverse reaction that was related to the cause of death and the first reported death was 1 year (interquartile range = 1-3); products were withdrawn sooner when the interval between the first reported relevant adverse reaction and the first death was shorter. Confirmatory studies were conducted in 57 instances (69%), and there was evidence of an association in 52 cases (63%). Four products (5%) were re-introduced after initial withdrawal. Regulatory authorities have been justified in making withdrawal decisions when deaths have been attributed to medicinal products, using the precautionary principle when alternative decisions

  20. Vulnerability to alcohol-related problems: a policy brief with implications for the regulation of alcohol marketing.

    Science.gov (United States)

    Babor, Thomas F; Robaina, Katherine; Noel, Jonathan K; Ritson, E Bruce

    2017-01-01

    The concern that alcohol advertising can have detrimental effects on vulnerable viewers has prompted the development of codes of responsible advertising practices. This paper evaluates critically the concept of vulnerability as it applies to (1) susceptibility to alcohol-related harm and (2) susceptibility to the effects of marketing, and describes its implications for the regulation of alcohol marketing. We describe the findings of key published studies, review papers and expert reports to determine whether these two types of vulnerability apply to population groups defined by (1) age and developmental history; (2) personality characteristics; (3) family history of alcoholism; (4) female sex and pregnancy risk; and (5) history of alcohol dependence and recovery status. Developmental theory and research suggest that groups defined by younger age, incomplete neurocognitive development and a history of alcohol dependence may be particularly vulnerable because of the disproportionate harm they experience from alcohol and their increased susceptibility to alcohol marketing. Children may be more susceptible to media imagery because they do not have the ability to compensate for biases in advertising portrayals and glamorized media imagery. Young people and people with a history of alcohol dependence appear to be especially vulnerable to alcohol marketing, warranting the development of new content and exposure guidelines focused on protecting those groups to improve current self-regulation codes promoted by the alcohol industry. If adequate protections cannot be implemented through this mechanism, statutory regulations should be considered. © 2016 Society for the Study of Addiction.

  1. The impact of marketing practices and its regulation policies on childhood obesity. Opinions of stakeholders in Spain.

    Science.gov (United States)

    Davó-Blanes, M Carmen; Ortiz-Moncada, Rocío; Gil-González, Diana; Alvarez-Dardet, Carlos; Lobstein, Tim

    2013-03-01

    The aim of this study was to identify Spanish stakeholders' views on the relationship between childhood obesity and the marketing and advertising of food and beverages aimed at children in Spain, as well as on the corresponding of regulations. We performed a qualitative study based on semi-structured interviews with Stakeholders/Key Informants (KI) from 13 organisations: experts (2), consumer advocates (1), public health advocates (2), food manufacturers (2), advertising advocates (1), government representatives (1), child/family/school advocates (2) and media (1). The variables studied were Prevalence of childhood obesity and its relationship to marketing/advertising and Regulation of marketing. In order to identify the most relevant arguments (pearls) in the discourses, a blind independent analysis by four members of the research team was performed. We found that the prevalence of childhood obesity was perceived to be higher than the European average. Self-regulation was identified as the main form of marketing control. Only food manufacturers and advertising agencies considered voluntary action and supervisory procedures to be effective. The other stakeholders advocated state control through legislation and non-state actions such as external assessment and sanctions. Despite the divergence of opinion between stakeholders, there was agreement on the need to improve supervision and to ensure compliance with current self-regulatory codes in Spain. Copyright © 2012 Elsevier Ltd. All rights reserved.

  2. Red Electrica de Espana S.A.. Instrument of regulation and liberalization of the Spanish electricity market (1944-2004)

    International Nuclear Information System (INIS)

    Garrues-Irurzun, Josean; Lopez-Garcia, Santiago

    2009-01-01

    To understand the regulation system of the Spanish electricity market it is first necessary to understand on the one hand the system of tariffs and prices, and on the other the organization of the market for high voltage distribution. This article is concerned with this second aspect and traces its history from 1944, this is because before that date it was not possible to speak of a truly national market, but rather only of regional monopolies. In the 1940s, with Franco's new political regime, and the development of the Spanish electricity sector, it became necessary to completely rethink business strategies in relation to competition and cooperation, as well as the regulatory function of the state. In the 1950s, the main feature of the sector was the system of business self-regulation permitted by the state. Throughout the remaining years of Franco's government state intervention was particularly focussed on the subject of tariffs, but with the onset of democracy the state was to involve itself in the transmission network as well. A debate began as to whether it should be run by a private or public operator. In this dispute were ranged, on the one hand, the economic policy concepts of the major parties (PSOE and PP), and against them the strategic interests of the companies. Although the high voltage transmission network was nationalized by the state in the mid-1980s, establishing a 'traditional' model of regulation, the 1990s saw the triumph of a market-based regulation, strongly influenced by the dominant ideas in the European Union, which has converted Red Electrica into a private company. Currently the TSO (Transmission System Operators) model has been extended to Portugal and has entered into competition-cooperation with the other models of the European electricity market. (author)

  3. EU COMPETITION LAW AND THE TELECOMS SINGLE MARKET: NETWORK NEUTRALITY IN THE AFTERMATH OF THE TSM REGULATION

    Directory of Open Access Journals (Sweden)

    Noemí ANGULO GARZARO

    2016-05-01

    Full Text Available Since the early 1990s, a sharp increase in the Internet traffic has been experienced. Technology, once again, has proven to be able to develop faster than regulation. In this endlessly evolving scenario, operators in the technology markets, as well as end-users, often find themselves under-protected. Therefore, it comes as a major concern the need to regulate those technological markets and, more specifically, the use –or abuse– of Internet. All Internet traffic should be treated equally and that is, precisely, what network neutrality aims at. Consequently, network operators may not take advantage of their position in the market to affect competition in related markets. All in all, network neutrality is crucial to achieve the highest degree of competition. In the absence of network neutrality, the Internet would find itself unable to qualify as a market merely driven by innovation, and it would unfailingly turn into one ruled by deal making. Competition law claims that the higher the neutrality is – i.e., the more equal the treatment is, the better it is for the consumer. If network operating companies create an exploitative business model, they might be able to block competitors’ websites and services; in other words, it may facilitate adoption of anticompetitive practices – namely, the abuse of their dominant position. Transcending all the arguments raised against network neutrality –such as the prevention of an overuse of bandwidth–, we will demonstrate that it must be deemed essential from a Competition law perspective. In addition, we will argue, the imperative necessity of leaving the market under the tough scrutiny of competition authorities, which are best placed to assess the anticompetitive character of the practices brought about by market operators.

  4. Morals or markets? Regulating assisted reproductive technologies as morality or economic policies in the states.

    Science.gov (United States)

    Heidt-Forsythe, Erin

    2017-01-01

    The availability of assisted reproductive technologies (ARTs) in the medical marketplace complicates our understanding of reproductive public policy in the United States. Political debates over ARTs often are based on fundamental moral principles of life, reproduction, and kinship, similar to other reproductive policies in the United States. However, ARTs are an important moneymaking private enterprise for the U.S. biotechnology industry. This project investigates how the U.S. states regulate these unique and challenging technologies as either moral policies or economic policies. This study employs ordinary least squares (OLS) regression to estimate the significance of morality and economic policy variables on ART policies at the state level, noting associations between state-level political, economic, and gender variables on restrictive and permissive state-level ART policies. Economic variables (reflecting the biotechnology industry) and advocacy for access to ART on behalf of infertility patients increase the chances of states passing policies that enable consumer use of ARTs. Additionally, individual ART policies are distinct from one another in the ways that morality variables increase the chances of ART regulations. Surprisingly, the role of religious adherence among state residents varied in positive and negative relationships with individual policy passage. In general, these results support the hypothesis that ART laws are associated with economic as well as moral concerns of the states-ARTs lie at the intersection of issues of life and reproduction and of scientific innovation and health. What is most striking about these results is that they do not follow patterns seen in the legislation of abortion, contraception, and sexuality in general-those reproductive policies that are considered "morality policy." Similarly, economic variables are not consistently significant in the expected direction.

  5. The System of Investment Processes in the IT Service Market and the Methodical Foundations for the Governmental Regulation

    Directory of Open Access Journals (Sweden)

    Protsykevych Arsen I.

    2017-10-01

    Full Text Available It has been determined that investment processes in the IT market enable the development and efficient use of affordable investment resources to develop and ensure the competitiveness of market players. Different approaches to interpretation of essence of investment processes have been identified. It has been proven that in order to implement an effective public policy in the IT services market, investment process must be seen as a macroeconomic system of relationships in the formation, attraction and use of investments in the IT services market, implementation of investment projects by the IT business entities. With that, systematic approach to understanding investment process brings to the fore an awareness of its typology, which in turn affects the applied instruments and means of public investment policy in this sphere. It has been found that the characteristics of governmental regulation of investment processes in the market for IT services are first and foremost determined by the aspects of the market functioning, the selected objects of trade, the basic constituents of investment activity, and the institutional framework.

  6. Research on the Legal Regulation of Market Access for Agricultural Products in China

    Institute of Scientific and Technical Information of China (English)

    2011-01-01

    On the basis of defining the concept of market access for agricultural products,this paper analyzes the necessity of establishing market access system of agricultural products,proposes the conception of establishing market access system of agricultural products in China;sets up the frame of market access system of agricultural products;analyzes the rationality of the frame of market access system of agricultural products;poses the consideration of economic law regarding setup of market access system of agricultural products.This paper also puts forward the legislative suggestions for establishing market access system of agricultural products as follows:establish the frame of market access system of agricultural products taking quality access as core;establish and perfect the compensation and relief system of guaranteeing benefit of manager and producers;establish the market access system of agricultural products with hierarchical structure;sort out existing laws and form the sound the legal frame of market access system of agricultural products.

  7. Demand Constraints and New Demands: Regulations, Markets and Institutions Efficiency (A Case Study for Cape Verde

    Directory of Open Access Journals (Sweden)

    Bernardo Reynolds Pacheco de Carvalho

    2014-08-01

    Full Text Available Economic efficiency is a key issue in economic research and for policy design, and certainly for food security challenges. In the food system dynamics the understanding of changes and trends is crucial to improve our capacity to deal with the objectives of sustainable development and quality of life. Food system efficiency evaluation is necessary with regard to production and consumption efficiencies as well as market and governance dilemmas. Regulations and institutional efficiency are crucial aspects that are frequently forgotten, and efforts should be made to improve the capacity to deal with those methodological needs. In many situations, in the real world, data and measurements are difficult or even impossible to get in numeric or quantitative terms. Frequently, a qualitative evaluation is the only way to proceed, but measurements and numeric references are still important, mainly when changes over time are central to the research. The actual paper follows a structural food system model (WFSE – World Food Security Equation and a general equilibrium approach (ICI model – induced changes and innovation model to show in a country case study (Cape Verde the important role of markets and institutions as compared to regulation practices directed to improve economic efficiency subject to demand behavior. Cape Verde is a very challenging country with regard to the food security status (where natural resources are very poor for agricultural production but with great success in global and macro terms in the last 10 years. The main problems nowadays are clearly at local level. The present research tries to highlight the global achievements and explore local assessment efforts on food consumption conditions. A specific region is studied, in the island of Santo Antão, one of the most important production regions. Three different production systems were compared mainly with regard to their respective influence on consumption habits, incomes and

  8. Current Evaluation of the Millennium Phytomedicine- Ginseng (I): Etymology, Pharmacognosy, Phytochemistry, Market and Regulations

    Science.gov (United States)

    Jia, Lee; Zhao, Yuqing

    2009-01-01

    The dawning of this millennium broke new ground in life science and technology, presented us genomic and proteomic revolution, nanotechnology innovation, and high performance liquid chromatography coupled with tandem mass spectrometry (LC/MS/MS) used for separating and identifying new chemical entities at pico-, or even femto-concentrations. Applications of these high technologies to the traditional Chinese medicine (TCM) opened a new chapter in the ancient medicine, and prompted us to re-evaluate the thousand-year-old phytomedicine–ginseng from current perspectives. We, therefore, collected the latest information (mostly within 10 years) on ginseng, and condensed the information into two parts of this review serial. The present part covers etymology of ginseng, its pharmacognosy (natural origin, physical appearance, chemical properties, and specie identification), its cultivation and processing-related metabolic changes in active ingredients, standardized analytical methods used for quality control of various ginseng products, modern analytical methods used to identify and classify more than 100 chemical entities (many were recently unfolded) derived from ginseng species and their metabolites. The global markets and production of ginseng and relevant government regulations are herein updated to exchange information and understandings about current people’s uses and cultivation of ginseng. The second part of the review serial will classify all these 100 chemical entities separated from various ginseng species into different groups based on their structural similarities, and summarize bioactivities of these entities. The second part of the review serial will also focus on recent findings of ginseng pharmacology and its clinical trials for various diseases, and brief side effects of ginseng. PMID:19601793

  9. Current evaluation of the millennium phytomedicine--ginseng (I): etymology, pharmacognosy, phytochemistry, market and regulations.

    Science.gov (United States)

    Jia, Lee; Zhao, Yuqing

    2009-01-01

    The dawning of this millennium broke new ground in life science and technology, presented us genomic and proteomic revolution, nanotechnology innovation, and high performance liquid chromatography coupled with tandem mass spectrometry (LC/MS/MS) used for separating and identifying new chemical entities at pico-, or even femto-concentrations. Applications of these high technologies to the traditional Chinese medicine (TCM) opened a new chapter in the ancient medicine, and prompted us to re-evaluate the thousand-year-old phytomedicine- ginseng from current perspectives. We, therefore, collected the latest information (mostly within 10 years) on ginseng, and condensed the information into two parts of this review serial. The present part covers etymology of ginseng, its pharmacognosy (natural origin, physical appearance, chemical properties, and specie identification), its cultivation and processing-related metabolic changes in active ingredients, standardized analytical methods used for quality control of various ginseng products, modern analytical methods used to identify and classify more than 100 chemical entities (many were recently unfolded) derived from ginseng species and their metabolites. The global markets and production of ginseng and relevant government regulations are herein updated to exchange information and understandings about current people's uses and cultivation of ginseng. The second part of the review serial will classify all these 100 chemical entities separated from various ginseng species into different groups based on their structural similarities, and summarize bioactivities of these entities. The second part of the review serial will also focus on recent findings of ginseng pharmacology and its clinical trials for various diseases, and brief side effects of ginseng.

  10. Does industry self-regulation protect young people from exposure to alcohol marketing? A review of compliance and complaint studies.

    Science.gov (United States)

    Noel, Jonathan K; Babor, Thomas F

    2017-01-01

    Exposure to alcohol marketing is considered to be potentially harmful to adolescents. In addition to statutory regulation, industry self-regulation is a common way to protect adolescents from alcohol marketing exposures. This paper critically reviews research designed to evaluate the effectiveness of the alcohol industry's compliance procedures to manage complaints when alcohol marketing is considered to have violated a self-regulatory code. Peer-reviewed papers were identified through four literature search engines: PubMed, SCOPUS, PsychINFO and CINAHL. Non-peer-reviewed reports produced by public health agencies, alcohol research centers, non-governmental organizations, government research centers and national industry advertising associations were also included. The search process yielded three peer-reviewed papers, seven non-peer reviewed reports published by academic institutes and non-profit organizations and 20 industry reports. The evidence indicates that the complaint process lacks standardization across countries, industry adjudicators may be trained inadequately or biased and few complaints are upheld against advertisements pre-determined to contain violations of a self-regulatory code. The current alcohol industry marketing complaint process used in a wide variety of countries may be ineffective at removing potentially harmful content from the market-place. The process of determining the validity of complaints employed by most industry groups appears to suffer from serious conflict of interest and procedural weaknesses that could compromise objective adjudication of even well-documented complaints. In our opinion the current system of self-regulation needs major modifications if it is to serve public health objectives, and more systematic evaluations of the complaint process are needed. © 2016 Society for the Study of Addiction.

  11. Youth expectations in job search in Serbia

    Directory of Open Access Journals (Sweden)

    Pavlović Dejana

    2016-01-01

    Full Text Available Youth on the labour market in developing countries such as Serbia, Macedonia, Bosnia and Herzegovina are facing numerous difficulties, with almost a half of their population aged between 15 -24 not working or working in informal sector. The reasons may be numerous. The financial crisis and the low economic development of the country have had negative impact on young generations and this resulted in lack of sufficient jobs vacancies. In addition, the reasons for their slow entry into the labour market could be the lack of experience, low education among young people etc. Although employers have certain expectations of young people, once they enter the labour market young people have certain values that are important for them when choosing a job. The paper presents the research on the expectations of young people entering labour market in the Republic of Serbia. According to survey results based on analyses of youth' expectations and preferences in Serbia regarding potential work conditions, authors have by the means of factor analysis identified which groups of factors are the most important for young people ages between 16 and 30 in job finding in Serbia. The results showed that there is a significance of three questions: 1. Job does not affect the private life; 2. Work resources are provided; 3. Work is safe. In conclusion, if a company ensures that these three issues are regulated, it will more likely employ young professionals.

  12. Expectations of oil prices in international market: some considerations; Algumas consideracoes sobre as expectativas dos precos do petroleo no mercado internacional

    Energy Technology Data Exchange (ETDEWEB)

    Salles, Andre A. de [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil)

    2008-07-01

    The petroleum market belongs to the more volatile when compared to other markets of financial active. Thus, market academic and professionals recognize the difficulty, and complexity, to obtain a prices forecast model when talking about oil. This work has for objective introduce an alternative methodology to the models which have been presented in the literature, with regard to the procedures of statistical inference. This methodology takes in consideration, in the construction of the prices forecast models, the violation of homoscedasticity, purpose of the classical econometric methods, and the occurrence of abnormal information in the temporal series of the prices or of the returns. This methodology, with Bayesian focus, for forecast models construction of the returns of the petroleum prices, takes in to account the heteroscedasticity of the returns and not the normality. The used information in this work was closing quotations of the market spot of petroleum of the type WTI negotiated in NYMEX. From the market daily prices of oil WTI (West Texas Intermediate), from the period of June 2006 to March 2007, were calculated returns, performing 202 information to be used in the introduced models. The used alternative models introduced presents a superior performance to the available models in the literature and commented in this work. (author)

  13. Record of proceedings: Conference on state regulation and the market potential for natural gas: Challenges and opportunities

    International Nuclear Information System (INIS)

    1992-01-01

    This conference was convened by the US Department of Energy and the National Association of Regulatory Utility Commissioners to provide a forum for state and federal policymakers, sate and federal regulators, and all segments of the natural gas industry to address issues of significance to the current and future use of natural gas, with particular emphasis on sate regulation. The conference brought together a cross-section of interested parties to begin the process of identifying the barriers to natural gas achieving its market potential and developing better communication between Federal officials, State officials and different segments of the natural gas and electric industries

  14. Environmental Regulations, Market Structure and Technological Progress in Renewable Energy Technology — A Panel Data Study on Wind Turbines

    OpenAIRE

    Dirk Rübbelke; Pia Weiss

    2011-01-01

    We study the impact of environmental regulations on the patent activities for wind turbines between 1980 and 2008. We explicitly control for energy market liberalisation and take a potential interaction between liberalisation and policy instruments into account. We find a strong and highly significant effect of environmental tax revenues, which we regard as a proxy for the extent to which energy prices changed in favour of renewable energies, as well as foreign demand for wind turbines on inn...

  15. The impact of marketing practices and its regulation policies on childhood obesity. Opinions of stakeholders in Spain

    OpenAIRE

    Davó-Blanes, M. Carmen; Ortiz-Moncada, Rocío; Gil-González, Diana; Álvarez-Dardet, Carlos; Lobstein, Tim

    2013-01-01

    The aim of this study was to identify Spanish stakeholders’ views on the relationship between childhood obesity and the marketing and advertising of food and beverages aimed at children in Spain, as well as on the corresponding of regulations. We performed a qualitative study based on semi-structured interviews with Stakeholders/Key Informants (KI) from 13 organisations: experts (2), consumer advocates (1), public health advocates (2), food manufacturers (2), advertising advocates (1), govern...

  16. 76 FR 14562 - Federal Acquisition Regulation; Additional Requirements for Market Research

    Science.gov (United States)

    2011-03-16

    ... and small disadvantaged business, should be exempt from market research requirements because the... subcontracting opportunities for small- business concerns. Careful attention to market-research strategies is an effective method for creating contract opportunities for small- business concerns. It provides them with an...

  17. The impact of concentration and regulation on competition in the Dutch mortgage market

    NARCIS (Netherlands)

    Mulder, Machiel

    2014-01-01

    This article investigates the effects of industry structure and regulatory pricing constraints on competition in the Dutch mortgage market during the global financial crisis that began in 2008. This highly concentrated market became even more concentrated following the financial crisis, when some

  18. Regulating Listed Companies: Between Company Law and Financial Market Law in Danish Law

    DEFF Research Database (Denmark)

    Clausen, Nis Jul

    2011-01-01

    The article discusses different elements and aspects of the regulation of listed companies in particular whether such regulation should be placed in company law or in financial marked law.......The article discusses different elements and aspects of the regulation of listed companies in particular whether such regulation should be placed in company law or in financial marked law....

  19. Evolutionary Expectations

    DEFF Research Database (Denmark)

    Nash, Ulrik William

    2014-01-01

    , they are correlated among people who share environments because these individuals satisfice within their cognitive bounds by using cues in order of validity, as opposed to using cues arbitrarily. Any difference in expectations thereby arise from differences in cognitive ability, because two individuals with identical...... cognitive bounds will perceive business opportunities identically. In addition, because cues provide information about latent causal structures of the environment, changes in causality must be accompanied by changes in cognitive representations if adaptation is to be maintained. The concept of evolutionary......The concept of evolutionary expectations descends from cue learning psychology, synthesizing ideas on rational expectations with ideas on bounded rationality, to provide support for these ideas simultaneously. Evolutionary expectations are rational, but within cognitive bounds. Moreover...

  20. Unequal Expectations

    DEFF Research Database (Denmark)

    Karlson, Kristian Bernt

    the role of causal inference in social science; and it discusses the potential of the findings of the dissertation to inform educational policy. In Chapters II and III, constituting the substantive contribution of the dissertation, I examine the process through which students form expectations...... of the relation between the self and educational prospects; evaluations that are socially bounded in that students take their family's social position into consideration when forming their educational expectations. One important consequence of this learning process is that equally talented students tend to make...... for their educational futures. Focusing on the causes rather than the consequences of educational expectations, I argue that students shape their expectations in response to the signals about their academic performance they receive from institutionalized performance indicators in schools. Chapter II considers...

  1. Regulation of the transfer market in professional Russian football: impact of the limit for legionaries in 2005–2016

    Directory of Open Access Journals (Sweden)

    Kseniya A. Andreeva

    2017-06-01

    Full Text Available Objective to estimate the efficiency of limit for legionaries as a tool for regulating the Russian transfer market. Methods formal methods of the labor market supply and demand model combinatory analysis statistical methods. Results the article views the order of regulation of the labor relations with foreign legionaries in sports. It is defined that in most countries regulation implies limitation of the number of legionaries who can be claimed for the season or be on the field. The article analyzes the approaches to the transfer market regulation methods as well as the arguments for and against limiting the number of legionaries. Basing on the analysis of literature the author estimates the efficiency of transfer market regulating from the economics viewpoint as well as the results of sports events. The author checks the hypothesis about the inefficiency of the limit as a tool for increasing the quality of the Russian playersrsquo performance based on a number of indicators such as the inefficiency of the national teamrsquos performance number of legionaries their performance etc. The estimation was carried out on the basis of a number of theoretical models 1 model of increasing the footballersrsquo salaries 2 model of free selection of players by the coach and 3 model of quality playersrsquo selection. Basing on these models the hypothesis was disproved of the rapid ldquovictory effectrdquo from the limit ndash the first significant results of the regulation appeared in Russia not earlier than after 10 years. It is supposed that the limit can be explained by G. Akerlofrsquos model by controlling the number of legionaries it is possible to attract more qualified foreign players into the national league. Analysis of the Russian teamsrsquo experience showed that the limit has not resulted in 1 the increase of the legionariesrsquo quality of performance 2 the increase of the playing time of the Russian players on the field in the national

  2. Expected impacts of the Cannabis Infringement Notice scheme in Western Australia on regular users and their involvement in the cannabis market.

    Science.gov (United States)

    Chanteloup, Francoise; Lenton, Simon; Fetherston, James; Barratt, Monica J

    2005-07-01

    The effect on the cannabis market is one area of interest in the evaluation of the new 'prohibition with civil penalties' scheme for minor cannabis offences in WA. One goal of the scheme is to reduce the proportion of cannabis consumed that is supplied by large-scale suppliers that may also supply other drugs. As part of the pre-change phase of the evaluation, 100 regular (at least weekly) cannabis users were given a qualitative and quantitative interview covering knowledge and attitudes towards cannabis law, personal cannabis use, market factors, experience with the justice system and impact of legislative change. Some 85% of those who commented identified the changes as having little impact on their cannabis use. Some 89% of the 70 who intended to cultivate cannabis once the CIN scheme was introduced suggested they would grow cannabis within the two non-hydroponic plant-limit eligible for an infringement notice under the new law. Only 15% believed an increase in self-supply would undermine the large scale suppliers of cannabis in the market and allow some cannabis users to distance themselves from its unsavoury aspects. Only 11% said they would enter, or re-enter, the cannabis market as sellers as a result of the scheme introduction. Most respondents who commented believed that the impact of the legislative changes on the cannabis market would be negligible. The extent to which this happens will be addressed in the post-change phase of this research. Part of the challenge in assessing the impact of the CIN scheme on the cannabis market is that it is distinctly heterogeneous.

  3. Expectations of employers on the example of Słupsk local labour market (with the particular emphasis on the need for geographical competences

    Directory of Open Access Journals (Sweden)

    Szmielińska-Pietraszek Paulina

    2015-03-01

    Full Text Available On today's labour markets, the basic characteristics of the quality of the labour force is knowledge, qualifications, skills and experience possessed by it. Today, employers are looking for employees with high interpersonal competences, manners, responsible, hard-working, independent, honest and having the ability to learn quickly. For this, as an asset, they add the higher education, preferably directional, creativity and experience. The taken research area is characterized by economic lag in comparison with Gdańsk agglomeration area, as well as with other regions. In the article the reference was made to the declared needs of employers towards future employees, based on interviews conducted in 101 entities of the city of Słupsk and Słupsk county. The main aim of the research was to determine the usefulness of geographic knowledge for the local labour market. And thus indicating the possibility of increasing the attractiveness of geographical graduates in the labour market. Among the needs of employers of Słupsk labour market in accordance with the overall national trend, there is a large deficit of soft competencies, but also, among others, the gap typically professional related to information technology and engineering skills have been diagnosed. There has been a large gap identified in the ability to apply the knowledge (academic in practical activities, which is called by the employers 'the professional experience'. In contrast, the studies on the usefulness of (the attractiveness of the labour market competencies that are possible to learn while studying geography, showed the particular importance, valuable for the modern labour market skills of searching, collecting and processing of information. Currently in Poland, even in conditions of high unemployment existing mismatch between qualification and professional structure of supply and demand for labour can be observed. In the labour market, the presence is noted at the same time, the

  4. Changes in the economy, the labor market, and expectations for the future: what might Europe and the United States look like in twenty-five years?

    Science.gov (United States)

    Buchholz, Sandra; Blossfeld, Hans-Peter

    2012-01-01

    In times of globalization, modern societies' labor markets have been marked by an increasing segmentation and growing social inequality. Youths in particular have experienced a worsening of their employment chances in the past three decades. However, what will the future bring? Copyright © 2012 Wiley Periodicals, Inc., A Wiley Company.

  5. 75 FR 27631 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Salable...

    Science.gov (United States)

    2010-05-18

    ..., Marketing Specialist or Gary D. Olson, Regional Manager, Northwest Marketing Field Office, Marketing Order... creation of the marketing order, can create liquidity problems for some producers. The marketing order was...

  6. Market based solutions for power pricing

    International Nuclear Information System (INIS)

    Wangensteen, Ivar

    2002-06-01

    The report examines how the price for effect reserves, spot market power and regulated power is formed provided ideal market conditions rule. Primarily the price determining factors in a market for power reserves are examined and how the connection between this market and the energy market (the spot market) is. In a free market there would be a balance between what the actors may obtain by operating in the open market for power reserves/regulated power on the one hand and the market for spot power on the other. Primarily we suppose that the desired amount of power reserve is known. Secondly the problem constellation is extended to comprise the size of the effect reserves i.e. the optimising of the requirement to the power reserves. The optimal amount of power reserves is obtained when there is a balance between the cost and the benefit. This optimal balance is achieved when expected macro economical loss due to outfacing balances against the cost of maintaining larger reserves. By using a simple model it is demonstrated that a system operator regulates the maximal price in the regulated market and this equals the rationing price. The actors will offer sufficient reserves even if the reserve price is zero (provided risk neutrality). If the maximal price for regulated power is lower the price of effect reserves will rise. Based on the same simple model calculations are made for how short and long term market balance will be for increasing demands

  7. Great Expectations

    NARCIS (Netherlands)

    Dickens, Charles

    2005-01-01

    One of Dickens's most renowned and enjoyable novels, Great Expectations tells the story of Pip, an orphan boy who wishes to transcend his humble origins and finds himself unexpectedly given the opportunity to live a life of wealth and respectability. Over the course of the tale, in which Pip

  8. Energy Markets in the United States: The Influence of Politics, Regulations, and Markets on Energy Development in the Oil and Gas and Wind Industries

    Science.gov (United States)

    Maguire, Karen Kay

    2011-12-01

    My dissertation focuses on the influence of politics, policies, and markets in determining oil and natural gas and wind energy development. In the first chapter, I examine the role of federal elected political influence and market factors in determining the acres of oil and natural gas leases issued on Bureau of Management (BLM) lands in the western United States between 1978 and 2008. I seek to determine if the political party and ideology of the federal political environment influence the number of acres that are leased and if there is disparate federal political influence in states that have a large amount of federal lands. Using a random effects Tobit model for a 17-state sample of the westernmost states in the contiguous United States, I find that more conservative federal political influence leads to additional leasing. The results are consistent across Senate committee leaders, Senate majority leadership, and the President's office. The further found that the influence of politics on leasing is not stronger in states with more federal lands. In the second chapter, I analyze the influence of state and federal political party changes and market factors on state oil and natural gas permitting. My findings, using a first-differenced empirical model for two samples, a 19-state sample, from 1990--2007, and a 14-state sample, from 1977--2007, indicate that the influence of state political party changes are trumped by economic factors. Oil and gas prices are the main drivers of permitting changes, while the state political party changes for the state legislatures and Governor's office are consistently not significant. In the third chapter I focus on the role of electricity markets and renewable energy regulation in wind development across the United States. My findings, using a random effects Tobit model with a 25-state sample, from 1994--2008, indicate that the implementation of state Renewables Portfolio Standards (RPS), the Federal Production Tax Credit (PTC

  9. Establish the technical regulation of MERCOSUR transport infectious materials and samples for diagnostic approve for resolution No.25/000 of MERCOSUR Common market group

    International Nuclear Information System (INIS)

    2001-01-01

    The Technical MERCOSUR (South Common Market) regulation presented for transport of infectious substances and analysis of samples in laboratories enabled by the Ministries of Health of the States Parts of the Mercosur for diagnostic [es

  10. Market and system integration of renewable energy sources. A legal analysis of the regulations for direct marketing in the EEG 2012; Markt- und Systemintegration der Erneuerbaren-Energien. Eine rechtliche Analyse der Regeln zur Direktvermarktung im EEG 2012

    Energy Technology Data Exchange (ETDEWEB)

    Lehnert, Wieland [Kanzlei Becker Buettner Held, Berlin (Germany)

    2012-07-01

    The EEG 2012 presents optional funding instruments for direct marketing of EEG electricity, in particular a market bonus and a flexibility bonus. The author presents the new regulation for direct marketing in the EEG 2012, in consideration of the practice in energy law. Important aspects are a systematic integration of the new specifications in energy law and an analysis of their contents. Effects on the practice of energy management are investigated, as well as the chances and risks connected with implementation by the energy market partners.

  11. Behavioral aspects of regulation: A discussion on switching and demand response in Turkish electricity market

    International Nuclear Information System (INIS)

    Sirin, Selahattin Murat; Gonul, Mustafa Sinan

    2016-01-01

    Electricity sector has been transformed from state-owned monopolistic utilities to competitive markets with an aim to promote incentives for improving efficiency, reducing costs and increasing service quality to customers. One of the cardinal assumptions of the liberalized and competitive electricity markets is the rational actor, and decision-makers are assumed to make the best decisions that maximize their utility. However, a vast literature on behavioral economics has shown the weakness of economic theory in explaining and predicting individuals’ decision-making behavior. This issue is quite important for competition in electricity markets in which consumers’ preferences have a significant role. Despite its importance, this issue has almost been neglected in Turkey, which has taken major steps in electricity sector restructuring. Therefore, this paper aims to examine switching and demand response behavior in Turkish electricity market by using multiple correspondence and panel data analysis, and findings are discussed in light of the neoclassical and behavioral economics literature. Analyses’ results show that consumers’ switching and demand response behavior is consistent with the neoclassical literature to some extent; however, behavioral factors are also affecting consumers’ decisions. Furthermore, there are systemic problems that hinder effective functioning of the electricity market and restrict competition. - Highlights: • Behavioral economics can provide insights for consumer’ decisions. • Switching and demand response behavior is examined by econometric methods. • Results is consistent with the neoclassical literature to some extent • However, behavioral factors are also affecting consumers’ decisions.

  12. Trade law and alcohol regulation: what role for a global Alcohol Marketing Code?

    Science.gov (United States)

    Mitchell, Andrew D; Casben, Jessica

    2017-01-01

    Following calls for restrictions and bans on alcohol advertising, and in light of the tobacco industry's challenge to Australia's tobacco plain packaging measure, a tobacco control measure finding support in the World Health Organization (WHO) Framework Convention on Tobacco Control, this paper considers what role, if any, an international alcohol marketing code might have in preventing or reducing the risk of challenges to domestic alcohol marketing restrictions under trade rules. Narrative review of international trade and health instruments and international trade court judgements regarding alcohol products and marketing restrictions. The experience of European trade courts in the litigation of similar measures suggests that World Trade Organization rules have sufficient flexibility to support the implementation of alcohol marketing restrictions. However, the experience also highlights the possibility that public health measures have disproportionate and unjustifiable trade effects and that the ability of a public health measure to withstand a challenge under trade rules will turn on its particular design and implementation. Measures implemented pursuant to international public health instruments are not immune to trade law challenges. Close collaboration between health policymakers, trade officials and lawyers, from as early as the research stage in the development of a measure to ensure a robust evidence base, will ensure the best chance of regulatory survival for an international marketing code. © 2016 Society for the Study of Addiction.

  13. The Effectiveness of Tobacco Marketing Regulations on Reducing Smokers’ Exposure to Advertising and Promotion: Findings from the International Tobacco Control (ITC Four Country Survey

    Directory of Open Access Journals (Sweden)

    K. Michael Cummings

    2011-01-01

    Full Text Available Exposure to tobacco product marketing promotes the initiation, continuation, and reuptake of cigarette smoking and as a result the World Health Organization Framework Convention on Tobacco Control (WHO FCTC has called upon member Parties to enact comprehensive bans on tobacco advertising and promotion. This study examines the immediate and long term effectiveness of advertising restrictions enacted in different countries on exposure to different forms of product marketing, and examines differences in exposure across different socioeconomic status (SES groups. Nationally representative data from the United Kingdom, Canada, Australia, and the United States, collected from adult smokers between 2002 and 2008 using the International Tobacco Control Four Country Survey (ITC-4, were used in this study (N = 21,615. In light of the specific marketing regulation changes that occurred during the course of this study period, changes in awareness of tobacco marketing via various channels were assessed for each country, and for different SES groups within countries. Tobacco marketing regulations, once implemented, were associated with significant reductions in smokers’ reported awareness of pro-smoking cues, and the observed reductions were greatest immediately following the enactment of regulations. Changes in reported awareness were generally the same across different SES groups, although some exceptions were noted. While tobacco marketing regulations have been effective in reducing exposure to certain types of product marketing there still remain gaps, especially with regard to in-store marketing and price promotions.

  14. The Effectiveness of Tobacco Marketing Regulations on Reducing Smokers’ Exposure to Advertising and Promotion: Findings from the International Tobacco Control (ITC) Four Country Survey

    Science.gov (United States)

    Kasza, Karin A.; Hyland, Andrew J.; Brown, Abraham; Siahpush, Mohammad; Yong, Hua-Hie; McNeill, Ann D.; Li, Lin; Cummings, K. Michael

    2011-01-01

    Exposure to tobacco product marketing promotes the initiation, continuation, and reuptake of cigarette smoking and as a result the World Health Organization Framework Convention on Tobacco Control (WHO FCTC) has called upon member Parties to enact comprehensive bans on tobacco advertising and promotion. This study examines the immediate and long term effectiveness of advertising restrictions enacted in different countries on exposure to different forms of product marketing, and examines differences in exposure across different socioeconomic status (SES) groups. Nationally representative data from the United Kingdom, Canada, Australia, and the United States, collected from adult smokers between 2002 and 2008 using the International Tobacco Control Four Country Survey (ITC-4), were used in this study (N = 21,615). In light of the specific marketing regulation changes that occurred during the course of this study period, changes in awareness of tobacco marketing via various channels were assessed for each country, and for different SES groups within countries. Tobacco marketing regulations, once implemented, were associated with significant reductions in smokers’ reported awareness of pro-smoking cues, and the observed reductions were greatest immediately following the enactment of regulations. Changes in reported awareness were generally the same across different SES groups, although some exceptions were noted. While tobacco marketing regulations have been effective in reducing exposure to certain types of product marketing there still remain gaps, especially with regard to in-store marketing and price promotions. PMID:21556189

  15. The effectiveness of tobacco marketing regulations on reducing smokers' exposure to advertising and promotion: findings from the International Tobacco Control (ITC) Four Country Survey.

    Science.gov (United States)

    Kasza, Karin A; Hyland, Andrew J; Brown, Abraham; Siahpush, Mohammad; Yong, Hua-Hie; McNeill, Ann D; Li, Lin; Cummings, K Michael

    2011-02-01

    Exposure to tobacco product marketing promotes the initiation, continuation, and reuptake of cigarette smoking and as a result the World Health Organization Framework Convention on Tobacco Control (WHO FCTC) has called upon member Parties to enact comprehensive bans on tobacco advertising and promotion. This study examines the immediate and long term effectiveness of advertising restrictions enacted in different countries on exposure to different forms of product marketing, and examines differences in exposure across different socioeconomic status (SES) groups. Nationally representative data from the United Kingdom, Canada, Australia, and the United States, collected from adult smokers between 2002 and 2008 using the International Tobacco Control Four Country Survey (ITC-4), were used in this study (N = 21,615). In light of the specific marketing regulation changes that occurred during the course of this study period, changes in awareness of tobacco marketing via various channels were assessed for each country, and for different SES groups within countries. Tobacco marketing regulations, once implemented, were associated with significant reductions in smokers' reported awareness of pro-smoking cues, and the observed reductions were greatest immediately following the enactment of regulations. Changes in reported awareness were generally the same across different SES groups, although some exceptions were noted. While tobacco marketing regulations have been effective in reducing exposure to certain types of product marketing there still remain gaps, especially with regard to in-store marketing and price promotions.

  16. Experiments expectations

    OpenAIRE

    Gorini, B; Meschi, E

    2014-01-01

    This paper presents the expectations and the constraints of the experiments relatively to the commissioning procedure and the running conditions for the 2015 data taking period. The views about the various beam parameters for the p-p period, like beam energy, maximum pileup, bunch spacing and luminosity limitation in IP2 and IP8, are discussed. The goals and the constraints of the 2015 physics program are also presented, including the heavy ions period as well as the special...

  17. Breakfast cereal industry pledges to self-regulate advertising to youth: will they improve the marketing landscape?

    Science.gov (United States)

    Schwartz, Marlene B; Ross, Craig; Harris, Jennifer L; Jernigan, David H; Siegel, Michael; Ostroff, Joshua; Brownell, Kelly D

    2010-04-01

    In 2007, the Council of Better Business Bureaus created the Children's Food and Beverage Advertising Initiative to improve the nutritional profile of products marketed to children in the United States. We provide quantitative baseline data describing (a) the amount of child-directed breakfast cereal advertising in 2007; (b) an assessment of the nutritional value for all cereals advertised on television; and (c) the relationship between nutrition quality and child exposure to television advertising for major cereal brands. In 2007, the average American child viewed 757 cereal ads, and 98 per cent of these ads promoted unhealthy cereals that would be prohibited from advertising to children in the United Kingdom. Healthy cereals were advertised in 2007 in the United States, but adults, not children, were predominantly exposed to these ads. These quantitative methods can be used in the future to evaluate the impact of industry self-regulation efforts to improve the marketing landscape.

  18. Energy in transition. Between regulation and market; Energiewirtschaft im Wandel. Zwischen Regulierung und Markt

    Energy Technology Data Exchange (ETDEWEB)

    Horzetzky, Guenther [Ministerium fuer Wirtschaft, Energie, Industrie, Mittelstand und Handwerk des Landes Nordrhein-Westfalen, Duesseldorf (Germany)

    2016-07-01

    Actually, the energy industry is affected in a changing market environment. The expansion of the renewables led to a share of about 30 % of the German electricity production and is always rising. The renewables energy levy has reached a level of 6.35 Euro Cents per kWh, which is actually a high level. Investments in new power plants are stopped due to low market electricity prices. The market pressure on the utilities is high and their business models have to be scrutinised. The NRW state government supports the magic political triangle of a secure, affordable and environmentally friendly energy supply. Instead of further interventions we have to develop our existing energy system cautiously. Anything else would not meet the requirements for invests in the energy supply and the magic triangle of energy politics.

  19. [Industry regulation and its relationship to the rapid marketing of medical devices].

    Science.gov (United States)

    Matsuoka, Atsuko

    2012-01-01

    In the market of medical devices, non-Japanese products hold a large part even in Japan. To overcome this situation, the Japanese government has been announcing policies to encourage the medical devices industry, such as the 5-year strategy for medical innovation (June 6, 2012). The Division of Medical Devices has been contributing to rapid marketing of medical devices by working out the standards for approval review and accreditation of medical devices, guidances on evaluation of medical devices with emerging technology, and test methods for biological safety evaluation of medical devices, as a part of practice in the field of regulatory science. The recent outcomes are 822 standards of accreditation for Class II medical devices, 14 guidances on safety evaluation of medical devices with emerging technology, and the revised test methods for biological safety evaluation (MHLW Notification by Director, OMDE, Yakushokuki-hatsu 0301 No. 20 "Basic Principles of Biological Safety Evaluation Required for Application for Approval to Market Medical Devices").

  20. Revenue cap regulation in a deregulated electricity market : effects on a grid company

    OpenAIRE

    Bjørndal, Mette; Jörnsten, Kurt

    2002-01-01

    In 1997 an incentive-based regulation was introduced for Norwegian transmission and distribution companies. Under the following revenue regulation regime, the permissible revenue of a grid company is adjusted annually, and during the first regulation period, the new revenue cap was determined on the basis of last year’s revenue cap, adjusting for inflation, productivity improvement, and load growth. The idea behind the load growth compensation factor was that the grid companies should be comp...

  1. E-cigarette use in Canada: prevalence and patterns of use in a regulated market

    OpenAIRE

    Shiplo, Samantha; Czoli, Christine D; Hammond, David

    2015-01-01

    Objective Canada is among the few countries in which e-cigarettes containing nicotine are prohibited. To date, there is little evidence on the prevalence and patterns of use of e-cigarettes in markets with product bans. The current study examines e-cigarette use among a sample of non-smokers and smokers in Canada. Design Online cross-sectional survey. Setting Conducted in October 2013 using a commercial panel of Canadians from Global Market Insite, Inc (GMI). Participants In total, 1095 Canad...

  2. Understanding the development of a regulated market approach to new psychoactive substances (NPS) in New Zealand using Punctuated Equilibrium Theory.

    Science.gov (United States)

    Rychert, Marta; Wilkins, Chris

    2018-05-09

    The short-lived regulated legal market for new psychoactive substances (NPS) in New Zealand marked a radical departure from the traditional prohibition-based approach to drugs. This paper aimed to enhance understanding of this policy change using Punctuated Equilibrium Theory (PET). The analysis draws on 3 years of evaluative research, including interviews with key stakeholders, analysis of legislation and policy documents and academic and grey literature. The reframing of the NPS issue from one of drug control to the need for stricter market regulation was achieved by the efforts of strategic policy entrepreneurs, including the legal high industry, drug law reform advocates, influential politicians and an independent legal advisory institution. This reframing was aided by the perceived saliency of the NPS problem and ineffectiveness of previous prohibition-based responses. In the absence of any political opposition to the regulatory approach, the Psychoactive Substances Act rapidly progressed through the Parliament. However, once the interim legal market was established, portrayal of the issues shifted away from experts and lobbyists to critique from local communities, local government, animal rights activists and the media, who viewed the new regime as a source of social and health problems. The mobilization of criticism ('Schattschneider mobilization') drew on ideas of animal welfare and community safety. With a looming national election, the government responded by ending the interim market with the urgent passage of amendment legislation. Punctuated Equilibrium Theory (PET) helps explain how New Zealand's Psychoactive Substances Act (PSA) policy first emerged on the political agenda and how the initial positive tone of expert support for reform shifted to a tide of popular criticism during the interim regime. However, with its emphasis on explaining agenda-setting, PET does not account for the legislative design shortcomings of the PSA. © 2018 Society for

  3. Regulations and policies that limit the growth of the U.S. Great Lakes cruising market.

    Science.gov (United States)

    2011-10-01

    The worldwide cruise industry has seen remarkable growth since the 1990s. The cruise market on the Great Lakes has lagged the worldwide growth and compared to historical records, has fallen far short of its full potential. This paper reviews the hist...

  4. 77 FR 35671 - Conformed Power Marketing Criteria or Regulations for the Boulder Canyon Project

    Science.gov (United States)

    2012-06-14

    ... Interior or authorized representatives; applicable laws; the general terms, conditions, and principles contained in these 2012 Conformed Criteria; and the General Power Contract Provisions in effect. Long-term... (DOE), is modifying Part C of its Conformed General Consolidated Power Marketing Criteria or...

  5. The Visible Hand: Markets, Politics, and Regulation in Post-Katrina New Orleans

    Science.gov (United States)

    Jabbar, Huriya

    2016-01-01

    In this article Huriya Jabbar examines how the regulatory environment in post-Hurricane Katrina New Orleans has influenced choice, incentives, and competition among schools. While previous research has highlighted the mechanisms of competition and individual choice--the "invisible hand"--and the creation of markets in education, Jabbar…

  6. The accelarating integration of banks and markets and its implications for regulation

    NARCIS (Netherlands)

    Boot, A.W.A.; Thakor, A.V.; Berger, A.N.; Molyneux, P.; Wilson, J.O.S.

    2010-01-01

    The banking landscape is in flux. Financial institutions and markets have become deeply intertwined and competitive pressures have intensified. Stability issues have become paramount, aptly illustrated by the credit crisis of 2007-2009. In this paper we review the existing literature to analyze the

  7. The accelerating integration of banks and markets and its implications for regulation

    NARCIS (Netherlands)

    Boot, A.W.A.; Thakor, A.V.; Berger, A.N.; Molyneux, P.; Wilson, J.O.S.

    2010-01-01

    The banking landscape is in flux. Financial institutions and markets have become deeply intertwined and competitive pressures have intensified. Stability issues have become paramount, aptly illustrated by the credit crisis of 2007-2009. In this paper we review the existing literature to analyze the

  8. Stock Exchange Mergers - The new Driver in the Harmonisation of Securities Market Regulation?

    DEFF Research Database (Denmark)

    Clausen, Nis Jul

    2009-01-01

      The creation of a single European financial market has been pursued vigorously through a number of harmonisation initiatives by European lawmakers and by some of the cross-border alliances between European stock exchanges. The very ambitious plans for harmonisation in the OMX and the Euronext...

  9. 76 FR 71271 - Common Crop Insurance Regulations; Fresh Market Tomato (Dollar Plan) Crop Provisions

    Science.gov (United States)

    2011-11-17

    ... to add ``strawberries'' in section 9(b)(3) to the list of crops that require soil fumigation before planting fresh market tomatoes. Strawberries are susceptible to nematode damage and pose the same risk of... sections 9(b)(1) and (2)), peppers, eggplants, strawberries or tobacco have been grown and the soil was not...

  10. Policy instruments for regulating the development of wind power in a liberated electricity market

    International Nuclear Information System (INIS)

    Morthorst, P.E.

    1999-01-01

    Wind power is facing the dual challenge of entering a liberated electricity market and at the same time being one of the main contributors to the reduction of greenhouse gas emissions. The paper analyses the importance of the existing standard payment schemes in the development of wind power, and how this might be affected by the introduction of a liberated electricity market. The existing Danish standard payment scheme has strongly encouraged investments in wind turbines. It has been and still is very effective in promoting a high wind power capacity development, but at a high economic cost to the Danish Government. Different models of conditions for wind power at an electricity exchange do exist, but all seem to introduce a higher risk to the individual wind turbine owner than seen with the present payment scheme. In short it might be stated that going from the existing standard payment system to a market based system, the political uncertainty is converted to a market risk for the individual wind turbine owner. (au)

  11. Policy instruments for regulating the development of wind power in a liberated electricity market

    International Nuclear Information System (INIS)

    Morthorst, P.E.

    1999-01-01

    Wind power is facing the dual challenge of entering a liberated electricity market and at the same time being one of the main contributors to the reduction of greenhouse gas emissions. The paper analyses the importance of the existing standard payment schemes in the development of wind power, and how this might be affected by the introduction of a liberated electricity market. The existing Danish standard payment scheme has strongly encouraged investments in wind turbines. It has been and still is very effective in promoting a high wind power capacity development, but at a high economic cost to the Danish Government. Different models of conditions for wind power at an electricity exchange do exist, but all seem to introduce a higher risk to the individual wind turbine owner than seen with the present payment scheme. In short it might be stated that going from the existing standard payment system to a market based system, the political uncertainty is converted to a market risk for the individual wind turbine owner. (author)

  12. Pension regulation and the market value of pension liabilities - A contingent claims analysis using Parisian options

    NARCIS (Netherlands)

    Broeders, D.; Chen, A.

    2008-01-01

    We analyze the market-consistent valuation of pension liabilities in a contingent claim framework whereby a knock-out barrier feature is applied to capture early regulatory closure of a pension plan. We investigate two cases which we call "immediate closure procedure" and "delayed closure

  13. Smokeless tobacco marketing and sales practices in Appalachian Ohio following federal regulations

    NARCIS (Netherlands)

    Klein, E.G.; Ferketich, A.K.; Abdel-Rasoul, M.; Kwan, M.P.; Kenda, L.; Wewers, M.E.

    2012-01-01

    Introduction: Smokeless tobacco (ST) use is increasingly prevalent among poor and vulnerable groups, especially rural males. Access to tobacco products, as well as marketing messages, is associated with tobacco usage. In June 2010, the Tobacco Control Act (TCA) marked the beginning of federal

  14. 76 FR 67259 - Frequency Regulation Compensation in the Organized Wholesale Power Markets

    Science.gov (United States)

    2011-10-31

    ... of varying resource mixes on the transmission grid. \\6\\ A balancing authority achieves acceptable.... Provision by other resources is emerging, as technologies develop and tariff and market rules adapt to... reality, they are not,\\21\\ and that slower, larger resources are being given a compensatory advantage for...

  15. Policy instruments for regulating the development of wind power in a liberated electricity market

    Energy Technology Data Exchange (ETDEWEB)

    Morthorst, P E [Risoe National Lab., Roskilde (Denmark)

    1999-03-01

    Wind power is facing the dual challenge of entering a liberated electricity market and at the same time being one of the main contributors to the reduction of greenhouse gas emissions. The paper analyses the importance of the existing standard payment schemes in the development of wind power, and how this might be affected by the introduction of a liberated electricity market. The existing Danish standard payment scheme has strongly encouraged investments in wind turbines. It has been and still is very effective in promoting a high wind power capacity development, but at a high economic cost to the Danish Government. Different models of conditions for wind power at an electricity exchange do exist, but all seem to introduce a higher risk to the individual wind turbine owner than seen with the present payment scheme. In short it might be stated that going from the existing standard payment system to a market based system, the political uncertainty is converted to a market risk for the individual wind turbine owner. (au)

  16. Labor market regulations and trade patterns: the panel data analysis within a modified Ricardian setting

    Czech Academy of Sciences Publication Activity Database

    Uzagalieva, Ainura

    -, 05/2008 (2008), s. 1-33 ISSN N Institutional research plan: CEZ:AV0Z70850503 Keywords : labor market * international trade * competition Subject RIV: AH - Economics http://www.deg.uac.pt/~ceeapla/pt/pdf/papers/Paper05-2008.pdf

  17. Shared Solar. Current Landscape, Market Potential, and the Impact of Federal Securities Regulation

    Energy Technology Data Exchange (ETDEWEB)

    Feldman, David [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Brockway, Anna M. [U.S. Department of Energy, Washington, DC (United States); Ulrich, Elaine [U.S. Department of Energy, Washington, DC (United States); Margolis, Robert [National Renewable Energy Laboratory (NREL), Golden, CO (United States)

    2015-04-07

    This report provides a high-level overview of the current U.S. shared solar landscape, the impact that a given shared solar program’s structure has on requiring federal securities oversight, as well as an estimate of market potential for U.S. shared solar deployment.

  18. Shared Solar. Current Landscape, Market Potential, and the Impact of Federal Securities Regulation

    Energy Technology Data Exchange (ETDEWEB)

    Feldman, David [National Renewable Energy Lab. (NREL), Golden, CO (United States); Brockway, Anna M. [Office of Energy Efficiency and Renewable Energy (EERE), Washington, DC (United States); Ulrich, Elaine [Office of Energy Efficiency and Renewable Energy (EERE), Washington, DC (United States); Margolis, Robert [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2015-04-01

    This report provides a high-level overview of the current U.S. shared solar landscape and the impact that a given shared solar program’s structure has on requiring federal securities oversight, as well as an estimate of market potential for U.S. shared solar deployment.

  19. Children?s Recall of Fast Food Television Advertising?Testing the Adequacy of Food Marketing Regulation

    OpenAIRE

    Bernhardt, Amy M.; Wilking, Cara; Gilbert-Diamond, Diane; Emond, Jennifer A.; Sargent, James D.

    2015-01-01

    Background and Aim In the United States, the fast food companies McDonald?s and Burger King participate in marketing self-regulation programs that aim to limit emphasis on premiums and promote emphasis of healthy food choices. We determine what children recall from fast food television advertisements aired by these companies. Methods One hundred children aged 3?7 years were shown McDonald?s and Burger King children?s (MDC & BKC) and adult (MDA & BKA) meal ads, randomly drawn from ads that air...

  20. Land distribution and acquisition practices in Ghana’s cocoa frontier: The impact of a state-regulated marketing system

    DEFF Research Database (Denmark)

    Knudsen, Michael Helt; Fold, Niels

    2010-01-01

    Substantial differences in the size of landholdings among cocoa farmers in the Western Region – the last cocoa “frontier” in Ghana – are primarily a result of inheritance practices and the purchase of vast tracts of land by migrants in the initial period of the cocoa boom. Individual accumulation...... surplus from their higher volume of cocoa production into investments in non-farm activities and construction of new residential houses—and not in land acquisition based on market transactions. State regulation of the cocoa sector has spurred increased efficiency among private cocoa purchasing companies...

  1. A market without tension. Market monitor, development of the Dutch small-scale consumer market for electricity and natural gas. January 2006 - June 2006

    International Nuclear Information System (INIS)

    Van Liere, M.; Postema, B.; Te Velthuis, M.

    2006-11-01

    The energy market is liberalized since 1 July 2004. The Dutch government has liberalized the energy market to stimulate competition between suppliers and to offer the consumer freedom of choice of their own energy supplier. As energy suppliers must put continuous effort in acquiring and preserving customers, the customers may expect better quality and service at relatively lower prices. In a well-functioning energy market the customer will benefit from the liberalisation. DTe (Dutch Office of Energy Regulation) is the regulator of the energy sector and supervises the energy companies adhering to the rules of the energy markets, protecting customers where needed. Moreover, DTe also monitors the developments in the energy markets. In the market monitor private consumers market DTe reports on the operating of the consumer market, also called the private consumers market. [mk] [nl

  2. Financial Flexibility in Highly Regulated Market: Indonesian Telecommunication Case during Tariff Pricing War

    Directory of Open Access Journals (Sweden)

    Y. Arief Rijanto

    2016-07-01

    Full Text Available In year 2008, regulation of Indonesian telecommunicationindustries changes due the tariff pricing war within Telecommunication operator. This regulation tie up the telecommunication operator and affect operating revenue margin.The needs of financial flexibility within tele communication firm is increased.Capex, operating revenue and reinvestment needs to be flexible must be inline with competition and change of technology. This paper goals is measuring financial flexibility based on Capex, operating revenue and re-investment needs.Re-investment needs by Telecommunication operator can be financed with or without financial flexibility. Data from year 2007 up to 2014 is selected to accommodate before and after changes of telecommunication regulation. The regulation effect to financial flexibility of telecommunication firm is still relevantbecause telecommunication industries by nature needs larger capital to re-new the telecommunication technology. Real options method will be used to measure financial flexibility.Keywords: Financial flexibility, Price war, Telecommunication Regulation, Real Option

  3. Marketing marketing

    NARCIS (Netherlands)

    dr. Karel Jan van Alsem

    2013-01-01

    In deze installatierede betoogt Karel Jan Alsem dat marketing een grotere strategische rol in organisaties zou moeten krijgen. Want marketing is bij uitstek de verbinding tussen klantwensen en het DNA van een organisatie. Doordat merken gemiddeld voor mensen niet heel belangrijk zijn, is goede

  4. 75 FR 13445 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Salable...

    Science.gov (United States)

    2010-03-22

    ... Manager, Northwest Marketing Field Office, Marketing Order Administration Branch, Fruit and Vegetable... creation of the marketing order, can create liquidity problems for some producers. The marketing order was... 22, 2010 / Proposed Rules#0;#0; [[Page 13445

  5. Provision of regulating energy in the context of direct marketing according to the EEG 2012; Zur Bereitstellung von Regelleistung im Rahmen der Direktvermarktung nach dem EEG 2012

    Energy Technology Data Exchange (ETDEWEB)

    Breuer, Daniel [Landgericht Koeln (Germany); Osborne Clarke, Koeln (Germany)

    2012-07-01

    Electric power from wind power plants and photovoltaic power plants cannot be stored and is not available at all times. The results are volatile power supply curves, risks of availability forecasting for grid owners or (direct) marketers, and enhanced requirements on grid operation with stable frequency. All this will directly affect the reliability of power supply in Germany. Grid integration and market integration of renewable energy sources are directly connected. The contribution discusses the challenges of ensuring grid stability as well as the legal regulations governing the supply of regulating power from renewable energy sources. Since 1 January 2012, regulating power from renewable energy sources is provided within the scope of the EEG only by direct marketing, i.e. without receiving fixed reimbursement rates. Direct marketing is only possible outside the scope of the EEG, but this is without relevance for the time being. (orig.)

  6. Nuclear reactors in de-regulated markets: Integration between providers and customers?

    International Nuclear Information System (INIS)

    Girard, Philippe

    2006-01-01

    The deregulation of electricity markets has in most cases coincided with the end of state monopolies, where financial risks were borne by customers/citizens. Today, despite an economic advantage, nuclear power development faces two main problems: public acceptance and reticence of investors (banks, utilities shareholders). The development of electricity markets provides different financial instruments in order to hedge financial risks, but it is currently difficult to fix forward contracts for more than three to four years, and this period is insufficient for the financing of a nuclear reactor. A solution could be the evolution of nuclear providers into nuclear operators selling electricity (MWh) rather than selling nuclear capacity (MW), nuclear fuel and services. In this case, their customers would be utilities and big customers aiming to hedge a part of their supplies with long-term contracts or stakes in nuclear reactors without some nuclear constraints. (author)

  7. Labour market regulation in Denmark during and beyond the economic crisis

    DEFF Research Database (Denmark)

    Lind, Jens; Rasmussen, Erling Juel

    Since the 1950s, Denmark has developed an economy, a social welfare system and an inclusive labour market which have been admired by overseas commentators (Smith, 2011, Auer 2000, Ganssmann 2000). In the process, it has transformed itself from a relatively low wage country to a high-wage, high...... policy ‘soul-searching’ and adverse economic and social changes. The so-called ‘Danish Model’ of employment relations and its ‘flexicurity’ approach has been heralded by many commentators for its ability to being adaptive and creating win-win economic, social and labour market outcomes (Auer, 2000; Due...... that the ‘Danish Model’ have been relatively successful in the last couple of decades, there have been frequent warnings that the end may be nigh for the ‘Danish Model’ (see Auer, 2009; Smith, 2011). A similar warning is the basic message of this article though in light of the remarkable Danish ability to re...

  8. Getting What You Pay For: Children's Use of Market Norms to Regulate Exchanges.

    Science.gov (United States)

    Echelbarger, Margaret; Gelman, Susan A; Kalish, Charles W

    2018-05-11

    Children are sensitive to a number of considerations influencing distributions of resources, including equality, equity, and reciprocity. We tested whether children use a specific type of reciprocity norm-market norms-in which resources are distributed differentially based strictly on amount offered in return. In two studies, 195 children 5-10 years and 60 adults distributed stickers to friends offering same or different amounts of money. Overall, participants distributed more equally when offers were the same and more unequally when offers were different. Although sensitive to why friends offered different amounts of money, children increasingly incorporated market norms into their distributions with age, as the oldest children and adults distributed more to those offering more, irrespective of the reasons provided. © 2018 Society for Research in Child Development.

  9. Conference Innovations in Derivatives Market : Fixed Income Modeling, Valuation Adjustments, Risk Management, and Regulation

    CERN Document Server

    Grbac, Zorana; Scherer, Matthias; Zagst, Rudi

    2016-01-01

    This book presents 20 peer-reviewed chapters on current aspects of derivatives markets and derivative pricing. The contributions, written by leading researchers in the field as well as experienced authors from the financial industry, present the state of the art in: • Modeling counterparty credit risk: credit valuation adjustment, debit valuation adjustment, funding valuation adjustment, and wrong way risk. • Pricing and hedging in fixed-income markets and multi-curve interest-rate modeling. • Recent developments concerning contingent convertible bonds, the measuring of basis spreads, and the modeling of implied correlations. The recent financial crisis has cast tremendous doubts on the classical view on derivative pricing. Now, counterparty credit risk and liquidity issues are integral aspects of a prudent valuation procedure and the reference interest rates are represented by a multitude of curves according to their different periods and maturities. A panel discussion included in the book (featuring D...

  10. Financial Flexibility in Highly Regulated Market: Indonesian Telecommunication Case during Tariff Pricing War

    Directory of Open Access Journals (Sweden)

    Y. Arief Rijanto

    2015-08-01

    Full Text Available In year 2008, regulation of Indonesian telecommunicationindustries changes due the tariff pricing war within Telecommunication opera-tor. This regulation tie up the telecommunication operator and affect operating revenue margin.The needs of financial flexibility within tele-communication firm is increased.Capex, operating revenue and reinvestment needs to be flexible must be inline with competition and change of technology. This paper goals is measuring financial flexibility based on Capex, operating revenue and re-investment needs.Reinvestment needs by Telecommunication operator can be financed with or without financial flexibility. Data from year 2007 up to 2014 is selec-ted to accommodate before and after changes of telecommunication regulation. The regulation effect to financial flexibility of telecommu-nication firm is still relevantbecause telecommunication industries by nature needs larger capital to re-new the telecommunication technology. Real options method will be used to measure financial flexibility.

  11. The International Politics of Harmonization: The Case of Capital Market Regulation

    OpenAIRE

    Simmons, Beth

    2001-01-01

    The vast expansion of international nancial activity over the last decade has been a central fact of international economic life. Balance-of-payments statistics indicate that cross-border transactions in bonds and equities among the G-7 countries rose from less than 10 percent of gross domestic product (GDP) in 1980 to over 140 percent in 1995. International bond and equity markets have reached staggering proportions: by the end of 1997, portfolio holdings of equity and long-term debt securit...

  12. The regulated energy economy versus the free energy market - The West German experience

    International Nuclear Information System (INIS)

    Liesen, K.; Schwarz, H.O.

    1989-09-01

    The overall good performance of the West German energy industry in terms of energy policy objectives such as security of supplies, competitiveness, efficient use of energy and environmental protection, is attributable to an energy policy based on the principles of the market economy and steady application of these same principles. Today, though, a debate, at times controversial, on whether more market influence or more government intervention is required is underway in West Germany; in view of the successes of energy policy and the balance struck between free enterprise and the government in the past, this debate has met with little understanding in some quarters. It is generally agreed, though, that the quality of the challenges energy policy and the energy industry in West Germany will confront in the future will remain essentially unchanged. West German energy policy will have to deal with: reestablishing a consensus on coal and nuclear power policy; achieving a high standard of environmental protection in the European Communities, and strengthening the position of the energy industry as efforts are made to get moves underway to create a single European market for energy underway. No fundamental change in the course of energy policy in the Federal Republic of Germany is needed to solve current energy policy issues or to preserve the underlying goals of this policy. An energy policy which continues to give priority where possible to market mechanisms as a means of adjustment and provides energy suppliers and users with a stable and reliable framework in which to operate, offers the best promise for meeting the challenges of the future. (author). 2 figs

  13. Market Regulators of Service Spheres Innovative Development as a Tool of Regional Socio-Economic Policy

    OpenAIRE

    Pugacheva, Anna S.; Filippova, Viktoriya P.; Kon, Andrei Y.; Dorzhieva, Lyudmila B.; Silchenok, Igor S.; Pugacheva, Natalya B.; Lunev, Alexander N.; Mustafina, Alfiya A.

    2016-01-01

    The relevance of the study is conditioned by the innovative development of service spheres as the reduction of territorial social and economic differentiation to the level, due to objective differences of the regions and to balance of their revenue base and expenditure commitments. The service sector is one of the most dynamic and growing segments of regional markets and one of the characteristics of effective socio-economic policy in the region. Innovative development of service spheres as a...

  14. Tax regulating carbon market in Brazil: barriers and perspectives; Regulacao tributaria do mercado de carbono no Brasil: entraves e perspectivas

    Energy Technology Data Exchange (ETDEWEB)

    Marques, Fernando; Magalhaes, Gerusa [Madrona Hong Mazzuco Brandao - Sociedade de Advogados (MHM), Sao Paulo, SP (Brazil)], email: gerusa.magalhaes@mhmlaw.com.br; Parente, Virginia [Universidade de Sao Paulo (IEE/USP), SP (Brazil). Inst. de Eletrotecnica e Energia], email: vparente@iee.usp.br; Romeiro, Viviane [Universidade de Sao Paulo (USP), SP (Brazil)], email: viviromeiro@usp.br

    2010-07-01

    The world is moving towards a low carbon economy to fight global warming caused by increases in anthropogenic emissions of greenhouse gases (GHGs). The carbon market beckons as a promising opportunity for Brazil through Clean Development Mechanism (CDM) projects, which result in Certified Emission Reductions (CERs). Although Brazil is responsible for about 8% of all CDM projects in the world, there is still no specific tax regulation for CERs, thus hindering the development of carbon market in Brazil. It is essential that Brazil have a consistent internal framework which guarantees to potential investors a minimum security on the legal and fiscal operations of CERs. There are government institutions, considering the current law and that, given the number of bills being processed in Congress, are not definitive. Such bills have different understandings for the legal classification of CERs and the related tax treatment. This article supports an urgent need for a regulatory tax system for CERs, proposing a tax exemption on transactions involving CERs in order to encourage the effective development of carbon markets in Brazil in the context of the currently international legal system in which Kyoto Protocol is based. (author)

  15. Smart electricity metering as an energy efficiency instrument: Comparative analyses of regulation and market conditions in Europe. Volume 1

    International Nuclear Information System (INIS)

    Morch, Andrei Z.; Parsons, John; Kester, Josco C.P.

    2007-01-01

    The new European Directive on Energy End-use Efficiency and Energy Services (ESD) (EC 2006/32, 2006) states the importance of installing metering and billing systems allowing consumers to regulate and steer their consumption. Extra information provided by these 'Smart Meters', is proposed as an important technological innovation to improve energy efficiency. In the next few years the European energy markets will face a challenging task - implementation of Smart Metering systems for small and middle-size customers. The public policies and implementation paths of Smart Metering today vary across Europe from full-scale implementation to very limited. Implementation of Smart Metering systems provides a technological basis, which makes it possible to implement new market-based products and services encouraging the Final Customers to save energy. Electricity suppliers and Distribution System Operators play a key role in a full utilisation of the energy saving potential from Smart Metering, but need a benefit for doing this. These new market opportunities could provide this benefit

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

    Science.gov (United States)

    Maïga, Diadié; Williams-Jones, Bryn

    2010-10-01

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

  17. Combating global warming. Possible rules, regulations and administrative arrangements for a global market in CO2 emission entitlements

    International Nuclear Information System (INIS)

    1994-12-01

    When in 1991 the UNCTAD secretariat launched its research into the idea of controlling carbon dioxide emissions through a system of 'tradeable permits', there was little support for this approach. Some felt that the idea was premature and should not detract from efforts to introduce more conventional measures, such as environmental taxes and new regulations. However, in a few short years, the idea of using tradeable market-based instruments to combat global warming has gained widespread acceptance. The UNCTAD secretariat's 1992 study on a global system of tradeable carbon emission entitlements (UNCTAD/RDP/DFP/1), was widely regarded as a major breakthrough in this area. This study argued that tradeable permits were both an efficient means of controlling man-made carbon dioxide emissions at minimum cost, and an effective mechanism for transferring resources to developing countries and countries in transition, to help them to contribute to the international effort to abate emissions of greenhouse gases. The study contained a detailed assessment of key technical elements of a tradeable CO 2 entitlements system, including permit allocation techniques, resource transfers, equity/distributional implications, institutional and administrative requirements. The present publication explores the institutional requirements for both policy-making and the organization of a global market in CO 2 emission allowances. It shows that one can start with a simple pilot scheme based on the joint implementation of commitments, which constitutes the cornerstone of the Framework Convention, and evolve gradually to a more complete system on the basis of 'learning by doing'. Since the use of markets can dramatically lower the cost of controlling greenhouse gas emissions, it is clearly in the self-interest of major emitters to act as 'market leaders' willing to pioneer

  18. The Commission’s internal conditions for social re-regulation: Market efficiency and wider social goals in setting the rules for financial services in Europe

    Directory of Open Access Journals (Sweden)

    Miriam Hartlapp

    2013-06-01

    Full Text Available The European Union is often considered as a prime example of a liberal regulatory state. We argue, however, that being limited to the regulatory policy does not prevent the European Commission from pursuing political aims going beyond market efficiency. We draw up two ideal-type perspectives of market regulation – being either efficiency or equality enhancing – that differ systematically in terms of rationale, degree of intervention, patterns of stakeholder access and conflict within the regulator. We trace these aspects in three financial services initiatives on the registration and supervision of reinsurers, equal treatment in financial services and the regulation of consumer credit. Our analyses suggest that there is scope for equality-enhancing re-regulation when proactive agents proceed decidedly on the basis of social-treaty concerns and frame regulatory beneficiaries as market participants as well as when they seek the redistribution of rights instead of resources.

  19. Effects of regulation on drug launch and pricing in interdependent markets.

    Science.gov (United States)

    Danzon, Patricia M; Epstein, Andrew J

    2012-01-01

    This study examines the effect of price regulation and competition on launch timing and pricing of new drugs. Our data cover launch experience in 15 countries from 1992 to 2003 for drugs in 12 major therapeutic classes. We estimate a two-equation model of launch hazard and launch price of new drugs. We find that launch timing and prices of new drugs are related to a country's average prices of established products in a class. Thus to the extent that price regulation reduces price levels, such regulation directly contributes to launch delay in the regulating country. Regulation by external referencing, whereby high-price countries reference low-price countries, also has indirect or spillover effects, contributing to launch delay and higher launch prices in low-price referenced countries. Referencing policies adopted in high-price countries indirectly impose welfare loss on low-price countries. These findings have implications for US proposals to constrain pharmaceutical prices through external referencing and drug importation.

  20. Community expectations

    International Nuclear Information System (INIS)

    Kraemer, L.

    2004-01-01

    Historically, the relationship between the nuclear generator and the local community has been one of stability and co-operation. However in more recent times (2000-2003) the nuclear landscape has had several major issues that directly effect the local nuclear host communities. - The associations mandate is to be supportive of the nuclear industry through ongoing dialogue, mutual cooperation and education, - To strengthen community representation with the nuclear industry and politically through networking with other nuclear host communities. As a result of these issues, the Mayors of a number of communities started having informal meetings to discuss the issues at hand and how they effect their constituents. These meetings led to the official formation of the CANHC with representation from: In Canada it is almost impossible to discuss decommissioning and dismantling of Nuclear Facilities without also discussing Nuclear Waste disposal for reasons that I will soon make clear. Also I would like to briefly touch on how and why expectation of communities may differ by geography and circumstance. (author)

  1. The Energy Markets' complexity and the need for a multilevel regulation

    International Nuclear Information System (INIS)

    Ferrari, G.F.

    2008-01-01

    The energy markets are very complex, because, on the one hand, they imply several different activities and, on the other hand, they involve various levels of government. The energy market is divided indeed in different segments: supply (generation or purchasing), transmission, distribution and sale, which are allocated at different levels of government, from the international and European level (with reference to the security of energy supply), to the local level (with specific regard to the distribution and sale). This complexity makes the energy sector particularly critical, under the pressure of political interests and economical needs. Another sensitive point is linked with the environmental protection, since the consumption of energy is one of the most polluting human activities, and the demand of energy is growing up together with the economical growth of the developing Countries. This problem is increasingly discussed at the international level, with reference to the climate change issue, in order to plan a sustainable development for the whole globe: because of it, the Kyoto Protocol was issued within the United Nation Framework Convention on Climate Change. It establishes legally binding commitments for the reduction of four greenhouse gases for all the 183 ratifying Countries, according the principle of common but differentiated responsibilities, and provides for the promotion of renewable energy. The European Union ratified the Protocol implementing the relative obligations through, for instance, the creation of the EU Emissions Trading Scheme (ETS). The European Union most of all addressed the competitive issue, since the 70s, in order to achieve the result to create a free energy market in Europe. The last results of the European energy policy were the directives on electricity and natural gas in 2004, that imposed the complete opening of the energy markets in almost all the European Countries (with few exceptions). The implementation of the European

  2. Markets and institutions: relations agents/regulators. The new power of Spanish Autonomous Communities

    International Nuclear Information System (INIS)

    Guayo Castiella, I. de

    2007-01-01

    The implementation in Spain of the 2003 European Directive on common rules for the internal market for electricity implies a more precise determination of who are the regulatory authorities, as well as which powers enjoy each of them; in Spain, also, the implementation process, relating to the regulatory authorities issues, including the competence of the Autonomous Communities. The implementation process has taken place soon after new Statutes of a number of Autonomous Communities have been passed, where energy issues, at least apparently, are subject to a new treatment. (Author) 25 refs

  3. Long-term contract auctions and market power in regulated power industries

    International Nuclear Information System (INIS)

    Soledad Arellano, M.; Serra, Pablo

    2010-01-01

    A number of countries with oligopolistic power industries have used marginal cost pricing to set the price of energy for small customers. This course of action, however, does not necessarily ensure an efficient outcome when competition is imperfect. The purpose of this paper is to study how the auction of long-term contracts could reduce market power. We do so in a two-firm, two-technology, linear-cost, static model where demand is summarized by a price inelastic load curve. In this context we show that the larger the proportion of total demand auctioned in advance, the lower are both the contract and the average spot price of energy.

  4. Anti-cyclic regulation of the Ukrainian economy under current conditions of the international markets volatility

    Directory of Open Access Journals (Sweden)

    Volodymyr Satsyk

    2009-04-01

    Full Text Available In the article there are considered the theoretical and methodological basis of anti-cyclic regulation of the countries’ economy under conditions of the world economy globalization. It suggests the analysis of practices of implementing of anti-cyclic policy in highly developed states, its defining features and directions under current global financial and economic crisis. There has been researched a practical toolkit of economic cycles diagnostics and cyclic fluctuations of total business activity in Ukraine based on this study. There are suggested recommendations concerning the formation of the effective mechanism of anti-cyclic regulation of the Ukrainian economy.

  5. An analysis of potential barriers and enablers to regulating the television marketing of unhealthy foods to children at the state government level in Australia.

    Science.gov (United States)

    Chung, Alexandra; Shill, Jane; Swinburn, Boyd; Mavoa, Helen; Lawrence, Mark; Loff, Bebe; Crammond, Bradley; Sacks, Gary; Allender, Steven; Peeters, Anna

    2012-12-28

    In Australia there have been many calls for government action to halt the effects of unhealthy food marketing on children's health, yet implementation has not occurred. The attitudes of those involved in the policy-making process towards regulatory intervention governing unhealthy food marketing are not well understood. The objective of this research was to understand the perceptions of senior representatives from Australian state and territory governments, statutory authorities and non-government organisations regarding the feasibility of state-level government regulation of television marketing of unhealthy food to children in Australia. Data from in-depth semi-structured interviews with senior representatives from state and territory government departments, statutory authorities and non-government organisations (n=22) were analysed to determine participants' views about regulation of television marketing of unhealthy food to children at the state government level. Data were analysed using content and thematic analyses. Regulation of television marketing of unhealthy food to children was supported as a strategy for obesity prevention. Barriers to implementing regulation at the state level were: the perception that regulation of television advertising is a Commonwealth, not state/territory, responsibility; the power of the food industry and; the need for clear evidence that demonstrates the effectiveness of regulation. Evidence of community support for regulation was also cited as an important factor in determining feasibility. The regulation of unhealthy food marketing to children is perceived to be a feasible strategy for obesity prevention however barriers to implementation at the state level exist. Those involved in state-level policy making generally indicated a preference for Commonwealth-led regulation. This research suggests that implementation of regulation of the television marketing of unhealthy food to children should ideally occur under the direction

  6. An analysis of potential barriers and enablers to regulating the television marketing of unhealthy foods to children at the state government level in Australia

    Directory of Open Access Journals (Sweden)

    Chung Alexandra

    2012-12-01

    Full Text Available Abstract Background In Australia there have been many calls for government action to halt the effects of unhealthy food marketing on children's health, yet implementation has not occurred. The attitudes of those involved in the policy-making process towards regulatory intervention governing unhealthy food marketing are not well understood. The objective of this research was to understand the perceptions of senior representatives from Australian state and territory governments, statutory authorities and non-government organisations regarding the feasibility of state-level government regulation of television marketing of unhealthy food to children in Australia. Method Data from in-depth semi-structured interviews with senior representatives from state and territory government departments, statutory authorities and non-government organisations (n=22 were analysed to determine participants' views about regulation of television marketing of unhealthy food to children at the state government level. Data were analysed using content and thematic analyses. Results Regulation of television marketing of unhealthy food to children was supported as a strategy for obesity prevention. Barriers to implementing regulation at the state level were: the perception that regulation of television advertising is a Commonwealth, not state/territory, responsibility; the power of the food industry and; the need for clear evidence that demonstrates the effectiveness of regulation. Evidence of community support for regulation was also cited as an important factor in determining feasibility. Conclusions The regulation of unhealthy food marketing to children is perceived to be a feasible strategy for obesity prevention however barriers to implementation at the state level exist. Those involved in state-level policy making generally indicated a preference for Commonwealth-led regulation. This research suggests that implementation of regulation of the television marketing of

  7. Market implications of new regulations: impact of health and nutrition information on consumer choice

    Energy Technology Data Exchange (ETDEWEB)

    Barreiro-Hurle, J.; Gracia, A.; Magistris, T. de

    2009-07-01

    Consumer concern for health impacts of diet has increased the use of nutritional information and claims by agro-food industry. Under the current European legislation on nutrition and health claims and on nutritional labelling, three type of nutritional information can be provided on food products: nutritional facts panel, nutritional claims and health claims. In this context, the aim of the paper is to assess how much consumers value the provision of three types of nutritional information in a meat product not precisely perceived as healthy, pork Frankfurt sausages, using a choice experiment. The data comes from a survey conducted in two Spanish medium size towns (Zaragoza and Cordoba) during 2007. A mixed logit model is used to estimate the effect of the nutrition information attributes on consumers utility and derive their willingness to pay. Results show that all three nutritional and health information items are valued by consumers, although preferences are heterogeneous. Health claims are significantly higher valued than nutritional attributes (facts panel or claim). Estimated market shares show that the use of any of the available labelling options will obtain significant market success even at prices including premiums above current price levels. (Author)

  8. The influence of the European paediatric regulation on marketing authorisation of orphan drugs for children

    NARCIS (Netherlands)

    Kreeftmeijer-Vegter, Annemarie Rosan; de Boer, Anthonius; van der Vlugt-Meijer, Roselinda H.; de Vries, Peter J.

    2014-01-01

    Background: Drug development for rare diseases is challenging, especially when these orphan drugs (OD) are intended for children. In 2007 the EU Paediatric Drug Regulation was enacted to improve the development of high quality and ethically researched medicines for children through the establishment

  9. Should catastrophic risks be included in a regulated competitive health insurance market?

    NARCIS (Netherlands)

    W.P.M.M. van de Ven (Wynand); F.T. Schut (Erik)

    1994-01-01

    textabstractIn 1988 the Dutch government launched a proposal for a national health insurance based on regulated competition. The mandatory benefits package should be offered by competing insurers and should cover both non-catastrophic risks (like hospital care, physician services and drugs) and

  10. For-Profit Colleges and Universities: Their Markets, Regulation, Performance, and Place in Higher Education

    Science.gov (United States)

    Hentschke, Guilbert C., Ed.; Lechuga, Vicente M., Ed.; Tierney, William G., Ed.

    2010-01-01

    This book offers a clear-eyed and balanced analysis of for-profit colleges and universities (FPCUs), reviewing their history, business strategies, and management practices; setting them in the context of marketplace conditions, the framework of public policy and government regulations; and viewing them in the light of the public good. Individual…

  11. The influence of the European paediatric regulation on marketing authorisation of orphan drugs for children

    NARCIS (Netherlands)

    Kreeftmeijer-Vegter, Annemarie Rosan; de Boer, Anthonius; van der Vlugt-Meijer, Roselinda H; de Vries, Peter J

    2014-01-01

    BACKGROUND: Drug development for rare diseases is challenging, especially when these orphan drugs (OD) are intended for children. In 2007 the EU Paediatric Drug Regulation was enacted to improve the development of high quality and ethically researched medicines for children through the establishment

  12. Modeling of GE Appliances: Cost Benefit Study of Smart Appliances in Wholesale Energy, Frequency Regulation, and Spinning Reserve Markets

    Energy Technology Data Exchange (ETDEWEB)

    Fuller, Jason C.; Parker, Graham B.

    2012-12-31

    This report is the second in a series of three reports describing the potential of GE’s DR-enabled appliances to provide benefits to the utility grid. The first report described the modeling methodology used to represent the GE appliances in the GridLAB-D simulation environment and the estimated potential for peak demand reduction at various deployment levels. The third report will explore the technical capability of aggregated group actions to positively impact grid stability, including frequency and voltage regulation and spinning reserves, and the impacts on distribution feeder voltage regulation, including mitigation of fluctuations caused by high penetration of photovoltaic distributed generation. In this report, a series of analytical methods were presented to estimate the potential cost benefit of smart appliances while utilizing demand response. Previous work estimated the potential technical benefit (i.e., peak reduction) of smart appliances, while this report focuses on the monetary value of that participation. The effects on wholesale energy cost and possible additional revenue available by participating in frequency regulation and spinning reserve markets were explored.

  13. No 3071. Resolution proposal aiming at creating an inquiry commission on the pricing conditions on the power market, and on their consequences for companies and consumers and on the necessity to implement regulation mechanisms

    International Nuclear Information System (INIS)

    Brottes, F.; Ayrault, J.M.; Bataille, Ch.; Ducout, P.; Emmanuelli, H.; Migaud, D.; Besson, E.; Bonrepaux, A.; Dumont, J.L.; Balligand, J.P.

    2006-05-01

    Electricite de France (EdF), the French electric utility, announced on December 15, 2004 a rise of electricity prices and tariffs in order to finance EDF's development policy. About a year later, the electricity prices rise was much higher than expected and not justified neither by the financial health of the company, nor by any other particular reason. The only reason seems to be the classical logic that follows the privatization of any historical power operator: opening of the capital, reduction of manpower, and increase of prices. This document wonders about: the impact of prices rise on power consuming companies and on individual end-users, the real role of the commission of energy regulation (CRE) and on the reality of an energy market regulation. (J.S.)

  14. Naming and Shaming in Financial Market Regulations: A Violation of the Presumption of Innocence?

    Directory of Open Access Journals (Sweden)

    Juliette J.W. Pfaeltzer

    2014-01-01

    Full Text Available Naming and shaming in the financial markets has become a well-known enforcement tool by national supervisors both within and outside the EU. The Netherlands is one of the Member States which permits the publication of offences and administrative sanctions including the name of the offender. However, such publication practice might raise some concerns in the light of certain fundamental human rights. For instance, does naming and shaming violate the presumption of innocence? This article tries to answer this question by evaluating the Dutch publication regime under the Financial Supervision Act. Are the legal safeguards as provided under this Act sufficiently adequate to prevent an infringement of the presumption of innocence?

  15. Through the integration to the regulated market of fresh vegetables in Slovenia

    Directory of Open Access Journals (Sweden)

    Jože Podgoršek

    2016-09-01

    Full Text Available Research Question (RQ: Disconnectedness of Slovenian producers is reflected in a markedly disadvantageous position in purchasing and sales marketing. Therefore, we raised a research question about the possibilities for the creation of an optimal model for the integration of producers. Purpose: The purpose of the study is to determine the readiness of stakeholders in the chain of vegetable production for mutual cooperation. The aim of the research is to find the optimal model of vegetable producers' integration and/with other stakeholders. Method: We have come to the results through different research tools. We have analyzed questionnaires with MS Excel and Statgraphyc plus 4.0, having errected an organization model for the integration of growers through a system analysis, comparative analysis and with multicriterion decision-making method DEXi. We have verified these results by applying a method of participatory research. Results: We found in this research that primarily larger agricultural holdings, which produce vegetables, wish to cooperate more intensively with each other. Using the research tools, we have determined the optimal form of mutual cooperation between producers. It is an economic cluster. However, gradual organizing via an producer organization, in particular due to the financial support of the EU, is reasonable. Organization: Competitive advantages acquired as the result of interconnection of growers will be felt on any agricultural holding. Society: By improving the conditions for the marketing of vegetables, self-sufficiency in vegetables will also grow, which will undoubtedly increase the autonomy of society and its independence from food imports from elsewhere. Originality: The study has made an innovative approach to the organization of the optimal model of the integration of vegetable growers. Limitations/Future Research: The study is limited to the vegetable sector, for the other sectors a new study should be carried out.

  16. 76 FR 11971 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Salable...

    Science.gov (United States)

    2011-03-04

    ... Manager, Northwest Marketing Field Office, Marketing Order Administration Branch, Fruit and Vegetable... create liquidity problems for some producers. The marketing order was designed to reduce the price... 4, 2011 / Proposed Rules#0;#0; [[Page 11971

  17. THE PROBLEM OF LEGAL REGULATION OF THE OPERATION OF THE OVER-THE-COUNTER (OTC) CURRENCY MARKET (FOREX) IN UKRAINE AND THE EU

    OpenAIRE

    Eugene Podorozhnyi; Dmytro Sirokha; Pavlo Komirchyi

    2017-01-01

    The aim of the article is to evaluate the state of legal institutionalization of the OTC foreign exchange market in Ukraine, as well as its comparison with the foreign experience of legal regulation of OTC currency relations in Ukraine and EU countries. The subject of the study is the legal and administrative framework for the functioning of the OTC currency market (Forex) in Ukraine and in the EU countries. The methodology of the study consists of: historical and legal method, which allowed ...

  18. How can the regulator show evidence of (no) risk selection in health insurance markets? Conceptual framework and empirical evidence.

    Science.gov (United States)

    van de Ven, Wynand P M M; van Vliet, René C J A; van Kleef, Richard C

    2017-03-01

    If consumers have a choice of health plan, risk selection is often a serious problem (e.g., as in Germany, Israel, the Netherlands, the United States of America, and Switzerland). Risk selection may threaten the quality of care for chronically ill people, and may reduce the affordability and efficiency of healthcare. Therefore, an important question is: how can the regulator show evidence of (no) risk selection? Although this seems easy, showing such evidence is not straightforward. The novelty of this paper is two-fold. First, we provide a conceptual framework for showing evidence of risk selection in competitive health insurance markets. It is not easy to disentangle risk selection and the insurers' efficiency. We suggest two methods to measure risk selection that are not biased by the insurers' efficiency. Because these measures underestimate the true risk selection, we also provide a list of signals of selection that can be measured and that, in particular in combination, can show evidence of risk selection. It is impossible to show the absence of risk selection. Second, we empirically measure risk selection among the switchers, taking into account the insurers' efficiency. Based on 2-year administrative data on healthcare expenses and risk characteristics of nearly all individuals with basic health insurance in the Netherlands (N > 16 million) we find significant risk selection for most health insurers. This is the first publication of hard empirical evidence of risk selection in the Dutch health insurance market.

  19. Implementation of information systems at pharmacies - a case study from the re-regulated pharmacy market in Sweden.

    Science.gov (United States)

    Hammar, Tora; Ohlson, Mats; Hanson, Elizabeth; Petersson, Göran

    2015-01-01

    When the Swedish pharmacy market was re-regulated in 2009, Sweden moved from one state-owned pharmacy chain to several private pharmacy companies, and four new dispensing systems emerged to replace the one system that had previously been used at all Swedish pharmacies for more than 20 years. The aim of this case study was to explore the implementation of the new information systems for dispensing at pharmacies. The vendors of the four dispensing systems in Sweden were interviewed, and a questionnaire was sent to the managers of the pharmacy companies. In addition, a questionnaire was sent to 350 pharmacists who used the systems for dispensing prescriptions. The implementation of four new dispensing systems followed a strict time frame set by political decisions, involved actors completely new to the market, lacked clear regulation and standards for functionality and quality assurance, was complex and resulted in variations in quality. More than half of the pharmacists (58%) perceived their current dispensing system as supporting safe dispensing of medications, 26% were neutral and 15% did not perceive it to support a safe dispensing. Most pharmacists (80%) had experienced problems with their dispensing system during the previous month. The pharmacists experienced problems included reliability issues, usability issues, and missing functionality. In this case study exploring the implementation of new information systems for dispensing prescriptions at pharmacies in Sweden, weaknesses related to reliability, functionality and usability were identified and could affect patient safety. The weaknesses of the systems seem to result from the limited time for the development and implementation, the lack of comprehensive and evidence-based requirements for dispensing systems, and the unclear distribution of quality assurance responsibilities among involved stakeholders. Copyright © 2015 Elsevier Inc. All rights reserved.

  20. Expected Term Structures

    DEFF Research Database (Denmark)

    Buraschi, Andrea; Piatti, Ilaria; Whelan, Paul

    We construct and study the cross-sectional properties of survey-based bond risk premia and compare them to their traditional statistical counterparts. We document large heterogeneity in skill, identify top forecasters, and learn about the importance of subjective risk premia in long-term bonds...... dynamics. The consensus is not a sufficient statistics of the cross-section of expectations and we propose an alternative real-time aggregate measure of risk premia consistent with Friedmans market selection hypothesis. We then use this measure to evaluate structural models and find support...

  1. E-cigarette use in Canada: prevalence and patterns of use in a regulated market

    Science.gov (United States)

    Shiplo, Samantha; Czoli, Christine D; Hammond, David

    2015-01-01

    Objective Canada is among the few countries in which e-cigarettes containing nicotine are prohibited. To date, there is little evidence on the prevalence and patterns of use of e-cigarettes in markets with product bans. The current study examines e-cigarette use among a sample of non-smokers and smokers in Canada. Design Online cross-sectional survey. Setting Conducted in October 2013 using a commercial panel of Canadians from Global Market Insite, Inc (GMI). Participants In total, 1095 Canadians were included in the analysis: 311 non-smokers aged 16–24 years (younger non-smokers), 323 smokers aged 16–24 years (younger smokers) and 461 smokers 25 years and older (older smokers). Primary and secondary outcome measures E-cigarette ever and current use, types of products used, and reasons for use. Results Approximately 79% of younger non-smokers, 82% of younger smokers and 81% of older smokers were aware of e-cigarettes. Ever trial of e-cigarettes was reported by 10% of younger non-smokers, 42% of younger smokers and 27% of older smokers. Moreover, current use of an e-cigarette, which was defined as use in the last 30 days, was reported by 0.3% of younger non-smokers, 18% of younger smokers and 10% of older smokers. Among those who had ever tried an e-cigarette, approximately 10% of younger non-smokers, 46% of younger smokers and 43% of older smokers reported trying an e-cigarette that contained nicotine. The most popular e-cigarette flavours were fruit followed by menthol, and the most common reason for using e-cigarettes was to help them quit smoking. Conclusions In the context of previous research, it appears that the prevalence of e-cigarette trial has increased in Canada. Although a considerable proportion of non-smokers have tried e-cigarettes, current use is almost entirely concentrated among smokers. Further research should be conducted to monitor e-cigarette use by Canadians. PMID:26310400

  2. E-cigarette use in Canada: prevalence and patterns of use in a regulated market.

    Science.gov (United States)

    Shiplo, Samantha; Czoli, Christine D; Hammond, David

    2015-08-26

    Canada is among the few countries in which e-cigarettes containing nicotine are prohibited. To date, there is little evidence on the prevalence and patterns of use of e-cigarettes in markets with product bans. The current study examines e-cigarette use among a sample of non-smokers and smokers in Canada. Online cross-sectional survey. Conducted in October 2013 using a commercial panel of Canadians from Global Market Insite, Inc (GMI). In total, 1095 Canadians were included in the analysis: 311 non-smokers aged 16-24 years (younger non-smokers), 323 smokers aged 16-24 years (younger smokers) and 461 smokers 25 years and older (older smokers). E-cigarette ever and current use, types of products used, and reasons for use. Approximately 79% of younger non-smokers, 82% of younger smokers and 81% of older smokers were aware of e-cigarettes. Ever trial of e-cigarettes was reported by 10% of younger non-smokers, 42% of younger smokers and 27% of older smokers. Moreover, current use of an e-cigarette, which was defined as use in the last 30 days, was reported by 0.3% of younger non-smokers, 18% of younger smokers and 10% of older smokers. Among those who had ever tried an e-cigarette, approximately 10% of younger non-smokers, 46% of younger smokers and 43% of older smokers reported trying an e-cigarette that contained nicotine. The most popular e-cigarette flavours were fruit followed by menthol, and the most common reason for using e-cigarettes was to help them quit smoking. In the context of previous research, it appears that the prevalence of e-cigarette trial has increased in Canada. Although a considerable proportion of non-smokers have tried e-cigarettes, current use is almost entirely concentrated among smokers. Further research should be conducted to monitor e-cigarette use by Canadians. 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.

  3. Power marketing and renewable energy

    International Nuclear Information System (INIS)

    Fang, J.M.

    1997-01-01

    Power marketing refers to wholesale and retail transactions of electric power made by companies other than public power entities and the regulated utilities that own the generation and distribution lines. The growth in power marketing has been a major development in the electric power industry during the last few years, and power marketers are expected to realize even more market opportunities as electric industry deregulation proceeds from wholesale competition to retail competition. This Topical Issues Brief examines the nature of the power marketing business and its relationship with renewable power. The information presented is based on interviews conducted with nine power marketing companies, which accounted for almost 54% of total power sales by power marketers in 1995. These interviews provided information on various viewpoints of power marketers, their experience with renewables, and their respective outlooks for including renewables in their resource portfolios. Some basic differences exist between wholesale and retail competition that should be recognized when discussing power marketing and renewable power. At the wholesale level, the majority of power marketers stress the commodity nature of electricity. The primary criteria for developing resource portfolios are the same as those of their wholesale customers: the cost and reliability of power supplies. At the retail level, electricity may be viewed as a product that includes value-added characteristics or services determined by customer preferences

  4. Affiliate marketing

    OpenAIRE

    Ureš, Michal

    2012-01-01

    This bachelor's thesis focuses on the topic of online affiliate marketing from the perspective of an internet entrepreneur. In the first, theoretical part, it characterizes the affiliate marketing, describes different, significant affiliate solutions in the Czech market and opportunities for their implementations. In the second, practical part, it concentrates mainly on an affiliate program of a company called GameLeader, s.r.o. It analyses expectations of the business from the implementation...

  5. Evidencia de las diferencias de expectativas en auditoria en mercados bursátiles de reducida dimensión: el caso Portugués Evidence on audit expectation gaps in small capital markets: the case of Portugal

    Directory of Open Access Journals (Sweden)

    Bruno José Machado de Almeida

    2008-08-01

    Full Text Available El principal objetivo de esta investigación es analizar, en un pequeño mercado de capitales, como es el de Portugal, si existen diferencias de expectativas en auditoria y cuales son sus componentes principales. Para ese efecto se há cuestionado a auditores e profesores de contabilidad e auditoria en relación a diversos asuntos que influyen e incrementan las diferencias de expectativas en auditoria. Por otro lado, también se cuestiona a los usuarios de la información financiera en Portugal, intentando captar cuales son sus percepciones del papel de la auditoria contemporánea, y sus respuestas son comparadas con las opiniones de usuarios de los países anglosajones. Se concluye que las expectativas de los usuarios de la información en Portugal son semejantes a la de los países anglosajones. El fraude es el principal tópico en las diferencias de expectativas. Por otro lado, el modelo actual de informes de auditoria en Portugal no es suficiente claro para que los usuarios puedan percibir cual es el alcance y el trabajo desarrollado por el auditor en la obtención de sus conclusiones.The main goal of this paper is to analyze if, in a small capital market such as the Portuguese, the audit expectation gap exits and which are its major components. We have enquired auditors and University accounting and auditing professors regarding several subjects that influence and increase the audit expectation gap. We have also questioned the Portuguese users of financial information regarding their perception of the role of today's auditing, to assay their opinion with studies made in Anglo-Saxon countries. We have reached the conclusion that Portuguese financial statements users' expectations are similar to the ones of bigger capital markets. As a matter of fact, fraud is the main cause for the existence of the audit expectation gap, nevertheless, Portuguese financial statements users also indicate that the actual auditor's report model in Portugal is

  6. The Norwegian electricity industry: a deregulated market in a regulated Europe

    Energy Technology Data Exchange (ETDEWEB)

    Diesen, E

    1994-12-01

    According to the 1990 Energy Act, the hydro power based Norwegian electricity supply industry was deregulated. The main aim of the act was to promote efficient utilisation of resources through introduction of competition. The act introduced open access for everyone to the network and fair and non-discriminatory pricing for network services. The consumers have now a free choice of suppliers. The Norwegian Water Resources and Energy Administration, NVE, has the responsibility for regulating the monopolized parts of the industry - the network - As well as supervising the competitive parts - production and trading. The Norwegian transmission grid has several connections with the neighbouring countries. Connections to Germany and the Netherlands are planned. The foreign power exchange is primarily based on exploiting the specific properties of the hydro based system by exporting peak power at high prices and import base load in off peak periods. (author).

  7. Development of a genetic tool for product regulation in the diverse British pig breed market

    Directory of Open Access Journals (Sweden)

    Wilkinson Samantha

    2012-11-01

    Full Text Available Abstract Background The application of DNA markers for the identification of biological samples from both human and non-human species is widespread and includes use in food authentication. In the food industry the financial incentive to substituting the true name of a food product with a higher value alternative is driving food fraud. This applies to British pork products where products derived from traditional pig breeds are of premium value. The objective of this study was to develop a genetic assay for regulatory authentication of traditional pig breed-labelled products in the porcine food industry in the United Kingdom. Results The dataset comprised of a comprehensive coverage of breed types present in Britain: 460 individuals from 7 traditional breeds, 5 commercial purebreds, 1 imported European breed and 1 imported Asian breed were genotyped using the PorcineSNP60 beadchip. Following breed-informative SNP selection, assignment power was calculated for increasing SNP panel size. A 96-plex assay created using the most informative SNPs revealed remarkably high genetic differentiation between the British pig breeds, with an average FST of 0.54 and Bayesian clustering analysis also indicated that they were distinct homogenous populations. The posterior probability of assignment of any individual of a presumed origin actually originating from that breed given an alternative breed origin was > 99.5% in 174 out of 182 contrasts, at a test value of log(LR > 0. Validation of the 96-plex assay using independent test samples of known origin was successful; a subsequent survey of market samples revealed a high level of breed label conformity. Conclusion The newly created 96-plex assay using selected markers from the PorcineSNP60 beadchip enables powerful assignment of samples to traditional breed origin and can effectively identify mislabelling, providing a highly effective tool for DNA analysis in food forensics.

  8. Development of a genetic tool for product regulation in the diverse British pig breed market.

    Science.gov (United States)

    Wilkinson, Samantha; Archibald, Alan L; Haley, Chris S; Megens, Hendrik-Jan; Crooijmans, Richard P M A; Groenen, Martien A M; Wiener, Pamela; Ogden, Rob

    2012-11-15

    The application of DNA markers for the identification of biological samples from both human and non-human species is widespread and includes use in food authentication. In the food industry the financial incentive to substituting the true name of a food product with a higher value alternative is driving food fraud. This applies to British pork products where products derived from traditional pig breeds are of premium value. The objective of this study was to develop a genetic assay for regulatory authentication of traditional pig breed-labelled products in the porcine food industry in the United Kingdom. The dataset comprised of a comprehensive coverage of breed types present in Britain: 460 individuals from 7 traditional breeds, 5 commercial purebreds, 1 imported European breed and 1 imported Asian breed were genotyped using the PorcineSNP60 beadchip. Following breed-informative SNP selection, assignment power was calculated for increasing SNP panel size. A 96-plex assay created using the most informative SNPs revealed remarkably high genetic differentiation between the British pig breeds, with an average FST of 0.54 and Bayesian clustering analysis also indicated that they were distinct homogenous populations. The posterior probability of assignment of any individual of a presumed origin actually originating from that breed given an alternative breed origin was > 99.5% in 174 out of 182 contrasts, at a test value of log(LR) > 0. Validation of the 96-plex assay using independent test samples of known origin was successful; a subsequent survey of market samples revealed a high level of breed label conformity. The newly created 96-plex assay using selected markers from the PorcineSNP60 beadchip enables powerful assignment of samples to traditional breed origin and can effectively identify mislabelling, providing a highly effective tool for DNA analysis in food forensics.

  9. Children's self-regulation of eating provides no defense against television and online food marketing.

    Science.gov (United States)

    Norman, Jennifer; Kelly, Bridget; McMahon, Anne-T; Boyland, Emma; Baur, Louise A; Chapman, Kathy; King, Lesley; Hughes, Clare; Bauman, Adrian

    2018-06-01

    Exposure to unhealthy food marketing stimulates children's food consumption. A child's responsiveness is influenced by individual factors, resulting in an increased vulnerability to advertising effects among some children. Whether these differential responses may be altered by different parental feeding behaviours is unclear. The purpose of this study was to determine the relationship between parental feeding practices and children's food intake responses to food advertising exposure. A randomised, crossover, counterbalanced, within subject trial was conducted across four, six-day holiday camps in New South Wales, Australia between April 2016 and January 2017 with 160 children (7-12 years, n = 40/camp). Children were randomised to either a multiple media (TV and Internet) or single media (TV) condition and exposed to food (3 days) and non-food (3 days) advertising in an online game and/or a cartoon. Children's food consumption (kilojoules (kJ)) was measured at a snack immediately after advertising exposure and then at lunch later in the day. Parents completed the Child Feeding Questionnaire, and 'restriction' and 'pressure to eat' subscale scores were calculated. While food advertising affected all children in the multiple media condition, there was an increased effect on snack intake among children whose parents reported pressuring them to eat, with children consuming an additional 356 kJ after food advertising compared with non-food advertising. This was 209 kJ more than children whose parents did not pressure them to eat. In the single media condition, only children whose parents reported restrictive feeding practices ate more at lunch on food advertising days than non-food advertising days (240 kJ). These data highlight an increased susceptibility to food advertising among children whose parents report controlling feeding practices. Copyright © 2018 Elsevier Ltd. All rights reserved.

  10. Electricity regulation in Germany - in the context of the European market

    Energy Technology Data Exchange (ETDEWEB)

    Pfaffenberger, W

    1994-06-01

    Electric utilities (EU) in Germany are semi-public or private enterprises of a wide variety of size. The large producer utilities operate the high voltage grid on the basis of private contracts. Regional distribution companies mostly without a considerable share in production often in cooperation with local distributors deliver electricity (el) in the non-urban areas whereas mostly city owned EU supply the large cities often on the basis of considerable parts of autoproduction and often also with a considerable share of el produced in cogeneration plants. The equilibrium between the parts of this system in the past was ensured by a legal framework protecting local monopolies as well as long term contracts between producers and distributors. This equilibrium derived its stability from political more than from economic factors. Deregulation trends inherent in European legislation on competition have threatened this stability. - In the first phase resistance against a more competitive order seemed unanimous. In the meantime however the different actors had time to rethink their position. - The European Council has now proposed a more moderate regulation taking into account the large differences in the ESI in the different member countries. - The German Government has made a proposal for some important changes in the Energy Law and connected passages in the Competition Law, which would introduce some more competitive elements into the system without anticipating the results of a competitive process. - Wholesale producers and regional distributors as well as customer groups are in favour of this reform, whereas the local distributors fear to become the losers in the ongoing reform process. - Environmentalists express concern that a more competitive order could lead to a lowering of environmental standards. This paper gives a short survery of the ESI in Germany, its regulations and the ongoing reform. (orig.)

  11. Market development in the natural gas market

    International Nuclear Information System (INIS)

    Kuenneke, R.W.; Arentsen, M.J.; Manders, A.M.P.; Plettenburg, L.A.

    1998-01-01

    Options for the liberalization of the Dutch natural gas market have been investigated. Three models are compared and assessed for the impacts on the economic performance, the national interests and the so-called public tasks. The results of the report can be used to base the proposals for a new Natural Gas Act, which is expected to be sent to the Dutch parliament in the spring of 1999. The three liberalization models are specified according to the different phases in the industrial column of natural gas. Except for transport (limited possibilities) and distribution (monopolistic character and thus not suitable for market development), market development is possible in all the phases of the column. The models are the cooperation model (equal position for the natural gas trade company Gasunie and the natural gas distribution companies, and management of the natural gas infrastructure and the Dutch gas reserves by means of mutual tuning, cooperation and coordination), the EZ-model (price mechanism for the tariffs for natural gas, and access to the natural gas network through negotiated third party access (TPA) with indicative prices and conditions), and the market model (optimal use of market development options to stimulate the economic performance, introduction of price mechanism options, access through regulated TPA with tariffs, based on long-term marginal costs, role of the government limited to a favorable policy with respect to access to the network, competition and security of the interests which arise from the exploitation of the Dutch natural gas fields). 26 refs

  12. Children’s Recall of Fast Food Television Advertising—Testing the Adequacy of Food Marketing Regulation

    Science.gov (United States)

    Bernhardt, Amy M.; Wilking, Cara; Gilbert-Diamond, Diane; Emond, Jennifer A.; Sargent, James D.

    2015-01-01

    Background and Aim In the United States, the fast food companies McDonald’s and Burger King participate in marketing self-regulation programs that aim to limit emphasis on premiums and promote emphasis of healthy food choices. We determine what children recall from fast food television advertisements aired by these companies. Methods One hundred children aged 3–7 years were shown McDonald’s and Burger King children’s (MDC & BKC) and adult (MDA & BKA) meal ads, randomly drawn from ads that aired on national US television from 2010–11. Immediately after seeing the ad, children were asked to recall what they had seen and transcripts evaluated for descriptors of food, healthy food (apples or milk), and premiums/tie-ins. Results Premiums/tie-ins were common in children’s but rarely appeared in adult ads, and all children’s ads contained images of healthy foods (apples and milk). Participants were significantly less likely to recall any food after viewing the children’s vs. the adult ad (MDC 32% [95% confidence interval 23, 41] vs. MDA 68% [59, 77]) p food was not significantly different from premium/tie-ins, and participants were significantly more likely to recall other food items than apples or milk. Moreover, premiums/tie-ins were recalled much more frequently than healthy food (MDC 45% [35, 55] vs. 9% [3, 15] pfood advertising indicate that industry self-regulation failed to achieve a de-emphasis on toy premiums and tie-ins and did not adequately communicate healthy menu choices. The methods devised for this study could be used to monitor and better regulate advertising patterns of practice. PMID:25738653

  13. On the evaluation of marginal expected shortfall

    DEFF Research Database (Denmark)

    Caporin, Massimiliano; Santucci de Magistris, Paolo

    2012-01-01

    In the analysis of systemic risk, Marginal Expected Shortfall may be considered to evaluate the marginal impact of a single stock on the market Expected Shortfall. These quantities are generally computed using log-returns, in particular when there is also a focus on returns conditional distribution....... In this case, the market log-return is only approximately equal to the weighed sum of equities log-returns. We show that the approximation error is large during turbulent market phases, with a subsequent impact on Marginal Expected Shortfall. We then suggest how to improve the evaluation of Marginal Expected...

  14. Labour market expectation of Nigerian computer science ...

    African Journals Online (AJOL)

    ... of Nigerian computer science / Information Communication Technology (ICT) graduates. ... It also x-rays the women performance in Computer Science. ... key players were analyzed using variables such as competence, creativity, innovation, ...

  15. Factors affecting the entry of for-profit providers into a price regulated market for formal long-term care services: a case study from Japan.

    Science.gov (United States)

    Tokunaga, Mutsumi; Hashimoto, Hideki

    2013-01-01

    While the distinct behaviors of for-profit and non-profit providers in the healthcare market have been compared in the economic literature, their choices regarding market entry and exit have only recently been debated. Since 2000, when public Long-Term Care Insurance was introduced in Japan, for-profit providers have been able to provide formal long-term homecare services. The aim of this study is to determine which factors have affected market entry of for-profit providers under price regulation and in competition with existing non-profit providers. We used nation-wide panel data from 2002 to 2010, aggregated at the level of local public insurers (n = 1557), a basic area unit of service provision. The number of for-profit providers per elderly population in the area unit was regressed against factors related to local demand and service costs using first-difference linear regression, a fixed effects model, and Tobit regression for robustness checking. Results showed that demand (the number of eligible care recipients) and cost factors (population density and minimum wage) significantly influenced for-profit providers' choice of market entry. These findings indicate that for-profit providers will strategically choose a local market for maximizing profit. We believe that price regulation should be redesigned to incorporate quality of care and market conditions, regardless of the profit status of the providers, to ensure equal access to efficient delivery of long-term care across all regions. Copyright © 2012 Elsevier Ltd. All rights reserved.

  16. The Interdependence of Competition Policy, Consumer Policy and Regulation in Introducing and Safeguarding Effective Competition in the EU Telecommunications Market

    Directory of Open Access Journals (Sweden)

    Andreas Bartels

    2017-05-01

    Full Text Available Currently, the European Union finds itself in troubled waters. It has to prove that its benefits outweigh the costs of its endeavour. In this respect, an EU competition policy that focuses on consumer welfare is one way to gain support by the citizens of its member states. The Roaming Regulation that has reduced the mobile communications costs while travelling abroad serves as a good example for this approach. The EU Commission views consumer policy as another important factor to protect and benefit customers. In markets with natural monopolies, the two policies require the support of an effective regulatory policy. The research demonstrates that these three policies – if harmonised – are able to lead to an increase in consumer welfare (primarily by reducing prices and that they protect the rights and interests of consumers. In the case of telecommunications, several initiatives of the European Commission and of national regulatory authorities to falls in prices and forced operators to implement customer friendly rules and to protect customer data and privacy. The authors consider that the European Commission has tried to establish and harmonise rules across all member states in order to protect the interests and rights of consumers on the telecommunication market. The enforcement of competition and consumer policy within institutions from the telecom field certainly could promote the focus on consumers and the possibility to use a large “toolbox”. Harmonising and adjusting the policies across different countries and institutions and minimising any possible side effects is nevertheless a challenging task for the EU Commission in the future.

  17. Modelling self-efficacy, self-regulation, self-directed learning and career processes of adult professionals and relations with learning outcomes and labour market success

    NARCIS (Netherlands)

    Bijker, Monique; Van der Klink, Marcel; Boshuizen, Els

    2010-01-01

    Bijker, M. M., Van der Klink, M. R., & Boshuizen, H. P. A. (2010, 25-27 August). Modelling self-efficacy, self-regulation, self-directed learning and career processes of adult professionals and relations with learning outcomes and labour market success. Paper presented at the 5th EARLI-SIG14

  18. Market Power in Laboratory Emission Permit Markets

    International Nuclear Information System (INIS)

    Godby, R.

    2002-01-01

    Many proposals suggesting the use of markets to control pollution assume markets will be competitive. When markets do not exhibit competitive characteristics, however, should they still be expected to result in efficiency improvement relative to traditional approaches? This paper employs experimental economic methods to examine the effect of market structure on the use of marketable emissions permits. Results indicate that in a market with one dominant firm and a number of fringe firms, strategic manipulation occurs repeatedly in the laboratory as predicted by market power models, undermining the allocative and dynamic efficiency benefits such markets offer. When firms compete in a downstream product market dominated by the same single firm, market efficiency can actually be reduced with the implementation of permit markets. Final market efficiencies reflect initial endowments and are influenced by competitive conditions elsewhere in the economy, indicating that policy-makers should carefully consider whether markets are appropriate in such circumstances

  19. Accuracy of drug advertisements in medical journals under new law regulating the marketing of pharmaceutical products in Switzerland.

    Science.gov (United States)

    Santiago, Macarena Gonzalez; Bucher, Heiner C; Nordmann, Alain J

    2008-12-31

    New legal regulations for the marketing of pharmaceutical products were introduced in 2002 in Switzerland. We investigated whether claims in drug advertisements citing published scientific studies were justified by these studies after the introduction of these new regulations. In this cross-sectional study, two independent reviewers screened all issues of six major Swiss medical journals published in the year 2005 to identify all drug advertisements for analgesic, gastrointestinal and psychopharmacologic drugs and evaluated all drug advertisements referring to at least one publication. The pharmaceutical claim was rated as being supported, being based on a potentially biased study or not to be supported by the cited study according to pre-specified criteria. We also explored factors likely to be associated with supported advertisement claims. Of 2068 advertisements 577 (28%) promoted analgesic, psychopharmacologic or gastrointestinal drugs. Among them were 323 (56%) advertisements citing at least one reference. After excluding multiple publications of the same drug advertisement and advertisements with non-informative references, there remained 29 unique advertisements with at least one reference to a scientific study. These 29 advertisements contained 78 distinct pairs of claims of analgesic, gastrointestinal and psychopharmacologic drugs and referenced studies. Thirty-seven (47%) claims were supported, 16 (21%) claims were not supported by the corresponding reference, and 25 (32%) claims were based on potentially biased evidence, with no relevant differences between drug groups. Studies with conflict of interest and studies stating industry funding were more likely to support the corresponding claim (RR 1.52, 95% CI 1.07-2.17 and RR 1.50, 95% CI 0.98-2.28) than studies without identified conflict of interest and studies without information on type of funding. Following the introduction of new regulations for drug advertisement in Switzerland, 53% of all assessed

  20. 7 CFR 1218.11 - Market or marketing.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 10 2010-01-01 2010-01-01 false Market or marketing. 1218.11 Section 1218.11 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (MARKETING... Market or marketing. (a) Marketing means the sale or other disposition of blueberries in any channel of...

  1. 77 FR 21391 - Marketing Order Regulating the Handling of Spearmint Oil Produced in the Far West; Revision of...

    Science.gov (United States)

    2012-04-10

    ... annual allotments after October 31 of each marketing year. As a result, the Committee has calculated that... pounds, the result is a total available supply of Scotch spearmint oil for the 2011-2012 marketing year...

  2. The role of legal regulation and place of international organisations in transport companies’ development at foreign market

    Directory of Open Access Journals (Sweden)

    Oleh Lyashuk

    2016-12-01

    Full Text Available The article deals with the analysis of the market of international trucking transport companies. The study is based on statistics and works of domestic and foreign scholars on the issue of current state and prospects of market development. Dedicated dynamics and structure of international trucking market, features of export, import and transit trucking. Identified the main priorities for the development and growth of the market.

  3. Changes in Policy and Market and Network Regulation to Increase Power Generation by Renewables and DG in the EU

    International Nuclear Information System (INIS)

    Van Oostvoorn, F.; Van der Welle, A.

    2009-01-01

    Recently the importance of 'Large scale DER integration' has increased as means to meet the ambitious 2020 EU policy objectives and targets for RES, emissions reductions and energy efficiency. Increasing the role of RES and DG (Renewable Energy Sources and Distributed Generation or DER) in supply is also highly beneficial for reducing EU dependency on gas and oil imports. In this EU context, it is important to review the current barriers, support policies and network regulation for integration of more DG, RES and small scale CHP (Combined Heat and Power) in the power systems. Several studies conducted for the EU and led by the ECN (Energy research Centre of the Netherlands) reveal that currently, in some, mainly new, Member States, the contribution of RES and DG is still very low. However, in coming decades the share of variable RES-E sources should become much larger in many EU countries. Note that 20% RES in a country in 2020 implies a share of electricity supply by RES of about 30% or more. Currently, countries like Denmark and Spain, already experience such a large contribution of (mostly intermittent type) renewables and this is already negatively impacting power system costs. Now the question arises whether or not we can increase the contribution of RES to the power supply beyond 20-30% without raising system inefficiency and what changes in system conditions and market and network regulation are necessary to efficiently absorb large volumes of so called intermittent RES supply resources. Based on findings from several large EU projects promoting the role of RES and DG in the power supply, the authors discuss and present the different barriers and solutions that should facilitate meeting the ambitious EU policy targets for RES in 2020

  4. On transparency and trust. Market monitor, development of the Dutch small-scale consumer market for electricity and natural gas. July 2006 - June 2007

    International Nuclear Information System (INIS)

    Van Liere, M.; Postema, B.; Te Velthuis, M.

    2007-10-01

    The energy market is liberalized since 1 July 2004. The Dutch government has liberalized the energy market to stimulate competition between suppliers and to offer the consumer freedom of choice of their own energy supplier. As energy suppliers must put continuous effort in acquiring and preserving customers, the customers may expect better quality and service at relatively lower prices. In a well-functioning energy market the customer will benefit from the liberalisation. DTe (Dutch Office of Energy Regulation) is the regulator of the energy sector and supervises the energy companies adhering to the rules of the energy markets, protecting customers where needed. Moreover, DTe also monitors the developments in the energy markets. In the market monitor private consumers market DTe reports on the operating of the consumer market, also called the private consumers market. [mk] [nl

  5. Patient (customer) expectations in hospitals.

    Science.gov (United States)

    Bostan, Sedat; Acuner, Taner; Yilmaz, Gökhan

    2007-06-01

    The expectations of patient are one of the determining factors of healthcare service. The purpose of this study is to measure the Patients' Expectations, based on Patient's Rights. This study was done with Likert-Survey in Trabzon population. The analyses showed that the level of the expectations of the patient was high on the factor of receiving information and at an acceptable level on the other factors. Statistical meaningfulness was determined between age, sex, education, health insurance, and the income of the family and the expectations of the patients (pstudy, the current legal regulations have higher standards than the expectations of the patients. The reason that the satisfaction of the patients high level is interpreted due to the fact that the level of the expectation is low. It is suggested that the educational and public awareness studies on the patients' rights must be done in order to increase the expectations of the patients.

  6. Decision-making in product portfolios of pharmaceutical research and development--managing streams of innovation in highly regulated markets.

    Science.gov (United States)

    Jekunen, Antti

    2014-01-01

    Decision-making is a core function of any drug development firm. Developing drugs demands a firm to be highly innovative, while at the same time the activity is strictly regulated. Successful drug development offers the right to apply for a long-term patent that confers exclusive marketing rights. This article addresses the issue of what constitutes an adequate portfolio of drugs for a drug development firm and how it might be managed successfully. The paper investigates decision-making in the industry and specifically in the development of oncology drugs from various perspectives: the need for decisions, their timing, decision-making at the project level, the optimal portfolio, tools for portfolio analysis, the evaluation of patents, and finally the importance of the drug portfolio. Drug development decisions as important organizational elements should get more emphasis, and decisions in drug portfolio using modern decision-making methods should be used more widely than what currently happens. Structured, informed decisions would help avoiding late terminations of drugs in Phase III development. An improved research and development pipeline and drug portfolio management are the major elements in the general strategy targeting success.

  7. Decision-making in product portfolios of pharmaceutical research and development – managing streams of innovation in highly regulated markets

    Science.gov (United States)

    Jekunen, Antti

    2014-01-01

    Decision-making is a core function of any drug development firm. Developing drugs demands a firm to be highly innovative, while at the same time the activity is strictly regulated. Successful drug development offers the right to apply for a long-term patent that confers exclusive marketing rights. This article addresses the issue of what constitutes an adequate portfolio of drugs for a drug development firm and how it might be managed successfully. The paper investigates decision-making in the industry and specifically in the development of oncology drugs from various perspectives: the need for decisions, their timing, decision-making at the project level, the optimal portfolio, tools for portfolio analysis, the evaluation of patents, and finally the importance of the drug portfolio. Drug development decisions as important organizational elements should get more emphasis, and decisions in drug portfolio using modern decision-making methods should be used more widely than what currently happens. Structured, informed decisions would help avoiding late terminations of drugs in Phase III development. An improved research and development pipeline and drug portfolio management are the major elements in the general strategy targeting success. PMID:25364229

  8. Benzidine-based dyes: effects of industrial practices, regulations, and world trade on the biological stains market.

    Science.gov (United States)

    Dapson, R W

    2009-06-01

    One of the most sweeping changes in the dye industry since the advent of synthetic dyes grew out of the health risks associated with benzidine. Dyes made from benzidine and its derivatives were used around the world until adverse health effects become incontrovertible. Workers and family members of workers involved in production and use of benzidine-based dyes had a high incidence of bladder cancer. Following publication of several reports documenting this health hazard, dye makers in the USA, Europe, and Japan phased these dyes out of production in the 1970s. Government regulations lent legal support for these voluntary initiatives. Two strategies subsequently evolved to compensate: developed nations brought alternative substances to market while emerging countries increased production of carcinogenic dyes and sold them at discount prices around the world. Nearly all dye manufacturing now has moved away from nations whose costs of production and compliance rendered them unable to compete. The purpose of this brief review is to publicize the health risks associated with dyes made from benzidine and its congeners, and to alert all companies and end users handling these dyes for biomedical applications that composition of the product and lot-to-lot variability may be problematic because of the manufacturing and distribution practices of the countries where they are produced.

  9. Decision-making in product portfolios of pharmaceutical research and development – managing streams of innovation in highly regulated markets

    Directory of Open Access Journals (Sweden)

    Jekunen A

    2014-10-01

    Full Text Available Antti Jekunen Vaasa Oncology Clinic, Vaasa, Finland Abstract: Decision-making is a core function of any drug development firm. Developing drugs demands a firm to be highly innovative, while at the same time the activity is strictly regulated. Successful drug development offers the right to apply for a long-term patent that confers exclusive marketing rights. This article addresses the issue of what constitutes an adequate portfolio of drugs for a drug development firm and how it might be managed successfully. The paper investigates decision-making in the industry and specifically in the development of oncology drugs from various perspectives: the need for decisions, their timing, decision-making at the project level, the optimal portfolio, tools for portfolio analysis, the evaluation of patents, and finally the importance of the drug portfolio. Drug development decisions as important organizational elements should get more emphasis, and decisions in drug portfolio using modern decision-making methods should be used more widely than what currently happens. Structured, informed decisions would help avoiding late terminations of drugs in Phase III development. An improved research and development pipeline and drug portfolio management are the major elements in the general strategy targeting success. Keywords: decision-making, drug development, clinical oncology, product management, pipeline, portfolio, portfolio analysis, company organization

  10. Food Marketing Technology and Contingency Market Valuation

    OpenAIRE

    Garth J. Holloway; Anthony C. Zwart

    1993-01-01

    Marketing activities are introduced into a rational expectations model of the food marketing system. The model is used to evaluate effects of alternative marketing technologies on the distribution of the benefits of contingency markets in agriculture. Benefits depend on two parameters: the cost share of farm inputs and the elasticity of substitution between farm and nonfarm inputs in food marketing. Over a broad spectrum of technologies, consumers are likely to be the net beneficiaries and fa...

  11. The Analysis of Prospects for Derivatives Market Development in Ukraine in View of Solving the Problems of its Normative Legal Regulation

    Directory of Open Access Journals (Sweden)

    Kolodizev Oleg M.

    2016-02-01

    Full Text Available The increased uncertainty in the country’s economy, impossibility of raising capital only by standard financial instruments substantiated the need for such financial innovations as derivatives. The relevance of the suggested topic is justified by the lack of strong legislative framework regulating the market of derivative financial instruments, as well as by significant demand for them in Ukraine. The aim of the article is to analyze the development level of the normative and legal field of trade in the derivatives market as well as the quality of the formed system of main indicators for derivatives trading in Ukraine. The paper identifies the problem, which could be neutralized through the use of derivative financial instruments. The volume and structure of the world and domestic derivatives markets have been analyzed. Based on the analysis of the legal field of regulating the market of derivative financial instruments as well as statistical analysis of its volume and structure, the reasons for the low activity in the considered market have been justified and recommendations to improve the current situation proposed.

  12. Energy providers: customer expectations

    International Nuclear Information System (INIS)

    Pridham, N.F.

    1997-01-01

    The deregulation of the gas and electric power industries, and how it will impact on customer service and pricing rates was discussed. This paper described the present situation, reviewed core competencies, and outlined future expectations. The bottom line is that major energy consumers are very conscious of energy costs and go to great lengths to keep them under control. At the same time, solutions proposed to reduce energy costs must benefit all classes of consumers, be they industrial, commercial, institutional or residential. Deregulation and competition at an accelerated pace is the most likely answer. This may be forced by external forces such as foreign energy providers who are eager to enter the Canadian energy market. It is also likely that the competition and convergence between gas and electricity is just the beginning, and may well be overshadowed by other deregulated industries as they determine their core competencies

  13. The power of regulation

    International Nuclear Information System (INIS)

    Lewis, M.G.

    1995-01-01

    Slides accompanying a presentation at The Power of Change Conference in Vancouver, BC in April 1995 about regulations affecting the power industry were presented. Issues addressed included customer choice, incentive regulation changes (price-caps, revenue sharing and pricing flexibility), the reactions of Canadian industry to regulatory changes, and anticipated reactions of the financial markets to changes in regulations. The potential effects of competition and changes that will create competition were discussed. The level of readiness of Canadian financial, ownership and regulatory bodies was discussed. The needs and expectations of investors from a new regulatory regime were quesstimated. Possible alternatives to the present regulatory framework were suggested

  14. Natural gas marketing II

    International Nuclear Information System (INIS)

    Anon.

    1988-01-01

    This book covers all aspects of gas marketing, from the basic regulatory structure to the latest developments in negotiating agreements and locating markets. Topics include: Federal regulation of the gas industry; Fundamentals of gas marketing contracts; FERC actions encouraging competitive markets; Marketing conditions from the pipelines' perspective; State non-utility regulation of natural gas production, transportation, and marketing; Natural gas wellhead agreements and tariffs; Natural gas processing agreements; Effective management of producer's natural gas contracts; Producer-pipeline litigation; Natural gas purchasing from the perspective of industrial gas users; Gas marketing by co-owners: problems of disproportionate sales, gas balancing, and accounting to royalty owners; Alternatives and new directions in marketing

  15. The Market Surveillance Panel in Ontario's electricity market : monitoring, investigating and reporting : backgrounder

    International Nuclear Information System (INIS)

    2002-04-01

    The Market Surveillance Panel (MSP) is an independent body appointed by and accountable to the Independent Directors of Ontario's Independent Electricity Market Operator (IMO). The MSP is fundamental to the development of competitive electricity markets because it is instrumental in monitoring the activities of the Ontario electricity market open to competition as of May 2002. The role of the MSP is to monitor, investigate and report on the behaviour of markets that are administered by the IMO. It is instrumental in promoting the benefits of competition to Ontario energy users. While the MSP is not a regulator, it is empowered to make recommendations to the IMO, the Ontario Energy Board and the Competition Bureau. The role of the MSP is to identify, understand and explain market outcomes that are anomalous, with particular focus on real-time energy price movements and market outcomes, gaming and the exercise of local market power. The report notes that energy prices are expected to fluctuate more in a competitive market than in a regulated market, and that price movements are actually healthy. However, the role of the MSP is to assess energy prices by asking important questions regarding the signaling role of prices, and to ensure that the changes in prices are not a result of abuse of market power. The MSP will also focus on the impediments to effective competition and on recommending actions to mitigate them. 5 refs

  16. Market opportunities: U.S. - PADD IV

    International Nuclear Information System (INIS)

    Garner, R.P.

    1997-01-01

    The current supply and demand balance, the short and long term expectations and marketing opportunities for Canadian crude oil in PADD IV, the Rocky Mountain region in the US, were reviewed. It was suggested that market opportunities in PADD IV are derived from the following four factors: (1) crude oil declines within that area, (2) federal regulations, (3) competitive presence with markets, and (4) population growth. The overall conclusion was that Canadian producers and PADD IV refiners will be looking at an ever-growing relationship based on freight equalized world crude prices. 8 tabs., 5 figs

  17. Price expectations and petroleum development

    International Nuclear Information System (INIS)

    Pollio, G.; Marian, W.S.

    1991-01-01

    In the first section of this paper, the authors present a highly stylized model of the world oil market that explicitly incorporates both expectative and financial effects. The model generates the extremely interesting result that actual future price outcomes are inversely related to prevailing price expectations, owing to fluctuation in the level and timing of industry investment expenditure. Given the importance of price expectations, it is surprising that the topic has received such scant attention. The authors therefore present in the second section of selective survey of the various measures that have been proposed and used in the literature, as well as an assessment of the value of potentially new indices and market prices for existing hydrocarbon reserves, for example. In the final section of the paper, we discuss the extent to which financial innovation, in the form of commodity-linked products-such as swaps, caps, collars, and so forth-are transforming the oil market, enabling all market segments to manage price uncertainty far more effectively than was ever possible in the past

  18. Financial Market Regulation-Security Scams In India with historical evidence and the role of corporate governance

    OpenAIRE

    Supreena Narayanan

    2005-01-01

    The financial system consists of specialized and non-specialized financial institutions, of organized and unorganized financial markets, of financial instruments and services, which facilitate transfer of funds. Procedures and practices adopted in the markets, and financial interrelationships are also parts of this system. In product or other service markets, purchasers part with their money in exchange for something now. In finance, money “now” is exchanged for a “promise to pay in the futur...

  19. Not an 'iron pipeline', but many capillaries: regulating passive transactions in Los Angeles' secondary, illegal gun market.

    Science.gov (United States)

    Chesnut, Kelsie Y; Barragan, Melissa; Gravel, Jason; Pifer, Natalie A; Reiter, Keramet; Sherman, Nicole; Tita, George E

    2017-08-01

    California has strict firearm-related laws and is exceptional in its regulation of firearms retailers. Though evidence suggests that these laws can reduce illegal access to guns, high levels of gun violence persist in Los Angeles (LA), California. This research seeks to describe the sources of guns accessed by active offenders in LA, California and reports offenders' motivations for obtaining guns. Los Angeles County Jail (LACJ) system (four facilities). Random sampling from a screened pool of eligible participants was used to conduct qualitative semistructured interviews with 140 incarcerated gun offenders in one of four (LACJ) facilities. Researchers collected data on firearm acquisition, experiences related to gun violence, and other topics, using a validated survey instrument. Grounded theory guided the collection and analysis of data. Respondents reported possession of 77 specific guns (79.2% handguns) collectively. Social networks facilitate access to illegal guns; the majority of interviewees acquired their illegal guns through a social connection (85.7%) versus an outside broker/unregulated retailer (8.5%). Most guns were obtained through illegal purchase (n=51) or gift (n=15). A quarter of gun purchasers report engaging in a passive transaction, or one initiated by another party. Passive gun buyers were motivated by concerns for personal safety and/or economic opportunity. In LA's illegal gun market, where existing social relationships facilitate access to guns across a diffuse network, individuals, influenced by both fear and economic opportunity, have frequent opportunities to illegally possess firearms through passive transactions. Gun policies should better target and minimise these transactions. 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/.

  20. COMPETITION FOR THE MARKET AND LIBERALIZATION: THE FRENCH EXPERIENCE

    Directory of Open Access Journals (Sweden)

    Bruno Lassere

    2014-12-01

    Full Text Available Progressing from a state controlled economy to a fully liberalized market economy takes considerable efforts. Depending on the specificities of the markets and the sectors regulated, the opening of markets to competition can take different forms. Competition on the market is considered to be the traditional form of competition. Certain economic sectors, however, are not prone to this traditional form of competition, specifically in situations where natural monopolies seem to be the only viable solutions. This is where competition for the market can be a good substitute.Competition for the market implies that a bidding process is organized to select the operator, which will be allowed to serve demand on a given market for a given time. Going through this bidding process is meant to introduce market mechanisms or, in other words, ex ante competition. As such, competition for the market contributes to put competitive pressure on monopolists, which is beneficial to consumers and users not only in terms of price and service quality, but also in terms of adjustment between supply and demand and access to information.Experience has shown, however, that several factors can hinder the expected benefits derived from competition for the market. In light of these difficulties, the French Competition Authority de la concurrence has developed solutions to unleash the full potential of competition for the market.Naturally, once markets are liberalized, comes the time for regulation through enforcement actions as well as continued advocacy efforts toward government, incumbent operators and new market players.