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

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)

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).

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.

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.

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

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

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

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%....

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)

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

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

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.

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.

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.

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)

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

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)

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

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

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.)

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

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.

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...

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.

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.

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

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

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

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)

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

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...

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...

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.

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

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

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).

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

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.

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.)

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.

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)

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.

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.

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...

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.

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

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.

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...

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.

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

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...

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)

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.

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...

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.

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...

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...

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

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.

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.

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.

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.

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.

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.

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...

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.

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.

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

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.

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

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

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)

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

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

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.

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.

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.

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

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

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

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

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.

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 ...

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

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.

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 ...

The EU health claim regulation in international comparison

DEFF Research Database (Denmark)

Aschemann-Witzel, Jessica

2011-01-01

Nutrition and health claims are voluntary claims on food indicating favourable nutritional content or health benefits of the food. Nutrition and health claims on food are increasingly regulated in the world market. This process is accompanied by intensive stakeholder discussions on the possible...... impact on consumer protection and food marketing effectiveness. This article reviews literature on regulations in the major food markets in comparison with the EU regulation. The focus is on identifying characteristics of regulations that are expected to have an impact on consumer protection and food...... marketing. The EU regulation is regarded as focusing relatively strongly on precaution and consumer understanding. The extent to which this hampers food innovations is in dispute. It is suggested that using marketing measures in favour of scientifically approved claims as well as stakeholder cooperation...

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

Medium-Term Oil Market Report 2013: Market Trends and Projections to 2018

Energy Technology Data Exchange (ETDEWEB)

NONE

2013-06-01

The global oil market will undergo sweeping changes over the next five years. The 2013 Medium-Term Oil Market Report evaluates the impact of these changes on the global oil system by 2018 based on all that we know today – current expectations of economic growth, existing or announced policies and regulations, commercially proven technologies, field decline rates, investment programmes (upstream, midstream and downstream), etc. The five-year forecast period corresponds to the length of the typical investment cycle and as such is critical to policymakers and market participants. This Report shows, in detailed but concise terms, why the ongoing North American hydrocarbon revolution is a ''game changer''. The region’s expected contribution to supply growth, however impressive, is only part of the story: Crude quality, infrastructure requirements, current regulations, and the potential for replication elsewhere are bound to spark a chain reaction that will leave few links in the global oil supply chain unaffected. While North America is expected to lead medium-term supply growth, the East-of- Suez region is in the lead on the demand side. Non-OECD oil demand, led by Asia and the Middle East, looks set to overtake the OECD for the first time as early as 2Q13 and will widen its lead afterwards. Non-OECD economies are already home to over half global refining capacity. With that share only expected to grow by 2018, the non-OECD region will be firmly entrenched as the world’s largest crude importer. These and other changes are carefully laid out in this Report, which also examines recent and future changes in global oil storage, shifts in OPEC production capacity and crude and product trade, and the consequences of the ongoing refinery construction boom in emerging markets and developing economies. It is required reading for anyone engaged in policy or investment decision-making in the energy sphere, and those more broadly interested in the oil

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

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

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

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.

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.

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.

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.

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.

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

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

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.

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)

An empirical analysis of the multimarket contact theory in pharmaceutical markets.

Science.gov (United States)

Coronado, Javier; Jiménez-Martín, Sergi; Marín, Pedro L

2014-07-01

Multimarket contact theory predicts that firms will optimally reduce prices in markets where collusive prices are sustainable and allocate the slack of the corresponding incentive compatibility to increase prices in markets where collusion is not sustainable. Binding price caps in collusive markets will have different effects over the multimarket contact mechanism depending on the severity of the cap. Setting a price cap close to the unregulated case will increase the size of the redistribution of market power whereas stronger regulation will even reduce prices in unregulated markets. Therefore, price regulations aiming at capping prices in a specific market will also affect markets that are not subject to specific mandatory price regulations. We find evidence of the theory predictions using information for nine OECD countries for pharmaceutical markets. Unregulated US markets are shown to respond to the redistribution effect; Canadian markets, known to be subject to soft price regulations, with respect to the former, are shown to be consistent with a stronger redistribution effect. EU markets and Japan are either consistent with the effect of a medium regulation or strong regulation. In this last case multimarket contact cannot explain prices, and these are expected to be lower compared to the unregulated benchmark.

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».

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.

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…

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 ...

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

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

TAXATION PECULIARITIES OF E-COMMERCE MARKET PLAYERS

Directory of Open Access Journals (Sweden)

Т. Zatonatska

2016-09-01

Full Text Available The article carried out with complex overview of tax regulation approaches of e-Commerce market, the features of international practices of taxation are revealed, in particular, EU countries, USA, China, etc. The nature and characteristics of e-Commerce market tax regulation is also revealed by international organizations, in particular, the OECD .It is provided with the best practices of leading countries in the sphere of e-Commerce market tax regulation and those which are the most appropriate for implementation in Ukraine are singled out. Based on experience of EU countries, USA and China the necessity of improving tax system is justified. It is provided with recommendations of tax regulation improvement in respect of a such groups of e-Commerce market subjects as "Producers" and "Intermediaries". Moreover it is determined with the most priority recommendations for implementation, in particular, tax-free period for hosting providers, the exemption of income tax for Internet retail trade enterprises and increase the maximum level of duty-free import of goods to Ukraine. Expected predicted effects are provided from implementation of such measures, the main of which are legalization, increasing the number of employees, attracting the world leaders of e-Commerce market to the domestic market, innovation incentives for market development and the intensification of cross-border trade.

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...

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

An agent-based simulation of power generation company behavior in electricity markets under different market-clearing mechanisms

International Nuclear Information System (INIS)

Aliabadi, Danial Esmaeili; Kaya, Murat; Şahin, Güvenç

2017-01-01

Deregulated electricity markets are expected to provide affordable electricity for consumers through promoting competition. Yet, the results do not always fulfill the expectations. The regulator's market-clearing mechanism is a strategic choice that may affect the level of competition in the market. We conceive of the market-clearing mechanism as composed of two components: pricing rules and rationing policies. We investigate the strategic behavior of power generation companies under different market-clearing mechanisms using an agent-based simulation model which integrates a game-theoretical understanding of the auction mechanism in the electricity market and generation companies' learning mechanism. Results of our simulation experiments are presented using various case studies representing different market settings. The market in simulations is observed to converge to a Nash equilibrium of the stage game or to a similar state under most parameter combinations. Compared to pay-as-bid pricing, bid prices are closer to marginal costs on average under uniform pricing while GenCos' total profit is also higher. The random rationing policy of the ISO turns out to be more successful in achieving lower bid prices and lower GenCo profits. In minimizing GenCos' total profit, a combination of pay-as-bid pricing rule and random rationing policy is observed to be the most promising. - Highlights: • An agent-based simulation of generation company behavior in electricity markets is developed. • Learning dynamics of companies is modeled with an extended Q-learning algorithm. • Different market clearing mechanisms of the regulator are compared. • Convergence to Nash equilibria is analyzed under different cases. • The level of competition in the market is studied.

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.)

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.

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.

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

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)

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

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

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

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

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.

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.

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

Bill project for a new organisation of the electricity market (NOME): impact study

International Nuclear Information System (INIS)

2010-01-01

This document reports a study of the impact of the implementation of regulated access to electricity, of a capacity obligation, and of the evolution of regulated selling prices. It outlines that the progressive opening to concurrence of electricity in European markets did not reach in France the expected objectives: to let consumers get the benefit of investment in nuclear energy, incentives for innovation and demand reduction, promotion of investments within the frame of the electricity European market, etc. The authors describe the electricity market new organisation which is defined in the bill project, and the expected impacts on the different actors, macro-economical impacts, impacts on public finance and employment, environmental impacts, social impacts, and legal impacts

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.

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).

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.

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.

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....

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....

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

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

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...

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.

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...

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)

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.

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

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.

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

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

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.

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

Can capital markets create incentives for pollution control?

International Nuclear Information System (INIS)

Lanoie, Paul; Roy, Maite; Laplante, Benoit

1998-01-01

It has been observed that upon trading-off the costs and benefits of pollution control, profit-maximizing firms may choose not to invest their resources in pollution abatement since the expected penalty imposed by regulators falls considerably short of the investment cost. Regulators have recently embarked on a deliberate strategy to release information to markets (investors and consumers) regarding firms' environmental performance in order to enhance incentives for pollution control. In this paper, we analyze the role that capital markets may play to create such incentives. Evidence drawn from American and Canadian studies indicates that capital markets react to the release of information, and that large polluters are affected more significantly by such release than smaller polluters. This result appears to be a function of the regulator's willingness to undertake strong enforcement actions as well as the possibility for capital markets to rank and compare firms with respect to their environmental performance

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 ...

[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.

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...

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

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

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.

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.)

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.

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

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.

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

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

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.

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

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...

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.…

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

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

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.

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...

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

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

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

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.

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.

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....

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...

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...

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...

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...

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

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...

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.

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.

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)

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 ...

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

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...

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...

Capital regulation: Less really can be more when incentives are socially aligned. Comments on Richard J. Herring "The Evolving Complexity of Capital Regulation". "The Interplay of Financial Regulations, Resilience, and Growth", Federal Reserve Bank of Philadelphia June 16-17, 2016

OpenAIRE

Hughes, Joseph P.

2017-01-01

Capital regulation has become increasingly complex as the largest financial institutions arbitrage differences in requirements across financial products to increase expected return for any given amount of regulatory capital, as financial regulators amend regulations to reduce arbitrage opportunities, and as financial institutions innovate to escape revised regulations - a regulatory dialectic. This increasing complexity makes monitoring bank risk-taking by markets and regulators more difficul...

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

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.

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...

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

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.

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

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

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

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...

Electricity market deregulation and its impact on the nuclear industry

International Nuclear Information System (INIS)

Jung, Y.E.; Alfors, G.

2000-01-01

Electricity has traditionally been supplied in OECD countries by state-owned facilities, or state-protected monopolies with regulated pricing. More recently, however, several countries have deregulated their electricity markets, thus opening the door to competitive supply and pricing. Deregulation of electricity markets is a trend that is expected to be followed by many countries, and can have a significant impact on the future of nuclear power programmes. (authors)

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.

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.

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...

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.

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

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

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...

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.

Energy market opening and the national energy programme in Slovenia

International Nuclear Information System (INIS)

Tomsic, M. G.; Urbancic, A.

2000-01-01

Slovenia is now moving fast toward market opening, at least in the electricity sector, due to the new Energy Law adopted in 1999. The Energy Law defines the main energy policy directions, including the sustainable development criterion. It also calls for the preparation of a National Energy Programme (NEP) to be adopted by the Parliament. According to the Law, local governments are expected to prepare local energy concepts, in line with the NEP and space planning decisions. Two most difficult challenges for national energy policies are: opening of the electricity market and meeting the Kyoto Protocol targets in the reduction of greenhouse gasses. The success of the energy sector reform depends on the fine-tuning of various instruments: market structuring and state interventions. The immediate concern for the sector in the secondary legislation, the fifty regulations that the Energy Law calls for. These regulations have to be prepared well before the date of internal electricity market opening on April 15th, 2001. The institutional structure to be established should be adapted for international competition that will start in electricity and gas no later than January 1st, 2003. It is expected that the NEP, to be prepared by spring of the year 2001, will propose complementary development strategies to cope with partially conflicting targets. Four groups of criteria shall be applied to compare the alternatives: security of supply, competitiveness of the society, preserving the space and environment quality and social cohesion. It is expected that energy market opening, not a final goal by itself, can be instrumental for the improvement of the energy sector performance on all accounts. (author)

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.

Confronting Regulatory Cost and Quality Expectations. An Exploration of Technical Change in Minimum Efficiency Performance Standards

Energy Technology Data Exchange (ETDEWEB)

Taylor, Margaret [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Stanford Univ., CA (United States); Spurlock, C. Anna [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Yang, Hung-Chia [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

2015-09-21

The dual purpose of this project was to contribute to basic knowledge about the interaction between regulation and innovation and to inform the cost and benefit expectations related to technical change which are embedded in the rulemaking process of an important area of national regulation. The area of regulation focused on here is minimum efficiency performance standards (MEPS) for appliances and other energy-using products. Relevant both to U.S. climate policy and energy policy for buildings, MEPS remove certain product models from the market that do not meet specified efficiency thresholds.

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.

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)

Strategies for Charging Electric Vehicles in the Electricity Market

DEFF Research Database (Denmark)

Juul, Nina; Pantuso, Giovanni; Iversen, Jan Emil Banning

2015-01-01

. We show that all vehicle owners will benefit from acting more intelligently on the energy market. Furthermore, the high value of the stochastic solution shows that, in case the regulating price differs from the expected, the solution to the deterministic problem becomes infeasible.......This paper analyses different charging strategies for a fleet of electric vehicles. Along with increasing the realism of the strategies, the opportunity for acting on the regulating market is also included. We test the value of a vehicle owner that can choose when and how to charge; by presenting...... optimally in response to predicted spot prices, and – in some settings – additional gains from using the up and down regulating prices. Particularly, strategies are chosen from uncontrolled charging through deterministic optimization, to modelling the charging and bidding problem with stochastic programming...

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)

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.

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)

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

Strategic market segmentation

Directory of Open Access Journals (Sweden)

Maričić Branko R.

2015-01-01

Full Text Available Strategic planning of marketing activities is the basis of business success in modern business environment. Customers are not homogenous in their preferences and expectations. Formulating an adequate marketing strategy, focused on realization of company's strategic objectives, requires segmented approach to the market that appreciates differences in expectations and preferences of customers. One of significant activities in strategic planning of marketing activities is market segmentation. Strategic planning imposes a need to plan marketing activities according to strategically important segments on the long term basis. At the same time, there is a need to revise and adapt marketing activities on the short term basis. There are number of criteria based on which market segmentation is performed. The paper will consider effectiveness and efficiency of different market segmentation criteria based on empirical research of customer expectations and preferences. The analysis will include traditional criteria and criteria based on behavioral model. The research implications will be analyzed from the perspective of selection of the most adequate market segmentation criteria in strategic planning of marketing activities.

Effects of long-term contracts on firms exercising market power in transmission constrained electricity markets

International Nuclear Information System (INIS)

Nam, Young Woo; Yoon, Yong Tae; Park, Jong-Keun; Hur, Don; Kim, Sung-Soo

2006-01-01

The electricity markets with only few large firms are often vulnerable to less competitive behaviors than the desired. The presence of transmission constraints further restrict the competition among firms and provide more opportunities for firms to exercise market power. While it is generally acknowledged that the long-term contracts provide good measures for mitigating market power in the spot market (thus reducing undesired price spikes), it is not even more clear how effective these contracts are if the market is severely limited due to transmission constraints. In this paper, an analytical approach through finding a Nash equilibrium is presented to investigate the effects of long-term contracts on firms exercising market power in a bid-based pool with transmission constraints. Surprisingly the analysis in this paper shows that the presence of long-term contracts may result in the reduced expected social welfare. A straightforward consequence of the analysis presented in this paper will be helpful for the regulators in Korea to reconsider offering vesting contracts to generating companies in the near future. (author)

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.

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...

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.

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...

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...

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...

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.

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

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.

Gas and electricity 2001: new market mechanisms

International Nuclear Information System (INIS)

2001-11-01

This document brings together 15 testimonies of experts about the opening of gas and electricity markets: 1 - from the opening of the electricity market to the future deregulation of the gas market: what are the new rules of the world energy market? Gaz de France's strategy in front of the opening of the market. The problem of the gas supplies in Europe in the framework of the opening of markets; 2 - Is the access to the network the same for everybody: the regulation authority as catalyst of the electricity market; the technical network constraints and the conditions of access to the transport and interconnections; the regulatory and contractual framework of the access to interconnections; how a foreign producer can warrant the supply of electricity in France; 3 - which global offer and which new services to be supplied to clients today: what is the global offer of a new actor? Power supply and associated services: what is the global offer of new actors to answer the client's needs? 4 - What are the expectations and choices of consumers in a de-regulated environment; definitions and implementations of new European strategies of purchase: how the purchaser work has changed? 5 - What is the place of the energy trade: the implementation of the electricity stock exchange in France: Powernext. How to manage risks associated to a gas/electricity assets portfolio? (J.S.)

Wind offering in energy and reserve markets

DEFF Research Database (Denmark)

Soares, Tiago; Pinson, Pierre; Morais, Hugo

2016-01-01

The increasing penetration of wind generation in power systems to fulfil the ambitious European targets will make wind power producers to play an even more important role in the future power system. Wind power producers are being incentivized to participate in reserve markets to increase...... their revenue, since currently wind turbine/farm technologies allow them to provide ancillary services. Thus, wind power producers are to develop offering strategies for participation in both energy and reserve markets, accounting for market rules, while ensuring optimal revenue. We consider a proportional...... offering strategy to optimally decide upon participation in both markets by maximizing expected revenue from day-ahead decisions while accounting for estimated regulation costs for failing to provide the services. An evaluation of considering the same proportional splitting of energy and reserve in both...

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.

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)

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

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

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

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

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.

Health insurance, cost expectations, and adverse job turnover.

Science.gov (United States)

Ellis, Randall P; Albert Ma, Ching-To

2011-01-01

Because less healthy employees value health insurance more than the healthy ones, when health insurance is newly offered job turnover rates for healthier employees decline less than turnover rates for the less healthy. We call this adverse job turnover, and it implies that a firm's expected health costs will increase when health insurance is first offered. Health insurance premiums may fail to adjust sufficiently fast because state regulations restrict annual premium changes, or insurers are reluctant to change premiums rapidly. Even with premiums set at the long run expected costs, some firms may be charged premiums higher than their current expected costs and choose not to offer insurance. High administrative costs at small firms exacerbate this dynamic selection problem. Using 1998-1999 MEDSTAT MarketScan and 1997 Employer Health Insurance Survey data, we find that expected employee health expenditures at firms that offer insurance have lower within-firm and higher between-firm variance than at firms that do not. Turnover rates are systematically higher in industries in which firms are less likely to offer insurance. Simulations of the offer decision capturing between-firm health-cost heterogeneity and expected turnover rates match the observed pattern across firm sizes well. 2010 John Wiley & Sons, Ltd.

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.

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

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

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...

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.

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...

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)

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.

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)

7 CFR 1206.12 - Market or marketing.

Science.gov (United States)

2010-01-01

... 7 Agriculture 10 2010-01-01 2010-01-01 false Market or marketing. 1206.12 Section 1206.12 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (MARKETING... INFORMATION Mango Promotion, Research, and Information Order Definitions § 1206.12 Market or marketing...

7 CFR 1212.14 - Market or marketing.

Science.gov (United States)

2010-01-01

... 7 Agriculture 10 2010-01-01 2010-01-01 false Market or marketing. 1212.14 Section 1212.14 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (MARKETING..., Promotion, Consumer Education, and Industry Information Order Definitions § 1212.14 Market or marketing. (a...

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

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.

The Changing Legal Climate for Marketing and Advertising in Europe.

Science.gov (United States)

Dunn, S. Watson

Although advertisers and marketers can expect stronger controls in all West European countries, especially by governments, they must be alert to country-by-country differences. Political moves to the left in any country will hasten controls. Consumerism is militant in some countries, practically dormat in others. Although self regulation is strong…

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

A review of the world market of indium (Economy of indium)

International Nuclear Information System (INIS)

Naumov, A.V.

2005-01-01

A review of the current state of the world and Russian markets of indium and indium-containing products was made based on the publications of the last years. Main fields of indium application are given, in particular, its using for neutron absorbing regulating rods in nuclear reactors. The second γ-radiation resulted from neutron absorption allows using indium as a neutron detector. Indium market stabilization is expected due to supply from China and South Korea [ru

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 

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

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

The world enrichment market

International Nuclear Information System (INIS)

Gunter, L.; McCants, C.; Rutkowski, E.

1991-01-01

The enrichment market can be divided into two periods: the near-term market (1991 to 1995) and the long-term market (1995 and beyond). The near-term market is characterized by limited unfilled requirements of 4% per year, to be supplied by national stockpiles and excess inventories. This low-cost material will be drawn down by about 1993, causing a subsequent price rise. As the price rises, primary supplier activity is expected to increase. In the near-term, two contracting activities are apparent: spot; and intermediate-term. The current spot market is expected to last until available low cost inventories are drawn down. Recently, in attempts to gain market share, suppliers have offered attractively priced intermediate-term (3 year) contracts for 1996 to 1998. While a small spot market will continue after 1995, it is anticipated that utilities will prefer a mix of medium- and long-term (5 to 10 year) contracts from primary suppliers for most of their enrichment requirements. As national stockpiles and utility inventories are consumed, low-cost supply available to the spot market is expected to diminish. Consequently, with little low-cost supply available, the only apparent source of material will be from primary suppliers, and the resulting competition over market share is expected to be intense. (author)

Essays on restructured electricity markets

Science.gov (United States)

Nicholson, Emma Leah

This dissertation focuses on the performance of restructured electricity markets in the United States. In chapter 1, I study bidder-specific offer caps ("BSOCs") which are used to mitigate market power in three wholesale electricity markets. The price of electricity is determined through multi-unit uniform price auctions and BSOCs impose an upper limit, which is increasing in marginal cost, on each generator's bid. I apply BSOCs in both the uniform and discriminatory price auctions and characterize the equilibria in a two firm model with stochastic demand. BSOCs unambiguously increase expected production efficiency in the uniform price auction and they can increase the expected profit of the generator with the lower cap. Chapter 2, coauthored with Ramteen Sioshansi, Ph.D., compares two types of uniform price auction formats used in wholesale electricity markets, centrally committed markets and self committed markets. In centrally committed markets, generators submit two-part bids consisting of a fixed startup cost and a variable (per MWh) energy cost, and the auctioneer ensures that no generator operates at a loss. Generators in self committed markets must incorporate their startup costs into their one part energy bids. We derive Nash equilibria for both the centrally and self committed electricity markets in a model with two symmetric generators with nonconvex costs and deterministic demand. Using a numerical example, we demonstrate that if the caps on the bid elements are chosen appropriately, the two market designs are equivalent in terms of generator revenues and settlement costs. Regulators and prominent academic experts believe that electric restructuring polices have stifled investment in new generation capacity. In chapter 3 I seek to determine whether these fears are supported by empirical evidence. I examine both total investment in megawatts and the number of new investments across regions that adopted different electric restructuring policies to

Northeast natural gas market outlook

International Nuclear Information System (INIS)

Denhardt, R.

2001-01-01

This power point presentation included several charts and graphs depicting the major pipeline projects, including the Alliance Pipeline, to move gas from the U.S. midwest (14.5 Bcfd) to the northeast (11.6 Bcfd). Alliance is expected to add 1.6 Bcfd of capacity and supplies could ultimately expand to 4 Bcfd. The addition of the Vector Pipeline could create excess capacity to eastern Canada. The major cause for increased power demand is power generation. For example, proposed gas combined cycle plants in Ontario equal 3.2 GW about 720 MMcfd at 90 per cent capacity, while environmental regulations have put 9.4 GW of coal at risk in Michigan. It was noted that U.S. northeast market growth is not likely to absorb all the proposed pipeline capacity, but potential capacity additions to the New England market are very significant compared to the market size. tabs., figs

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...

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...

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...

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

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)

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.

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.

Prospective of the market of Petroleum liquefied gas 2002-2011

International Nuclear Information System (INIS)

2002-01-01

The petroleum liquefied gas regulation (PLGR) establishes in it 8 Th Article that the Secretaria de Energia will draw up annually a prospective document about the Mexican market behavior of PL gas where its can be describing and analysing the necessities of the country in relation with this industry for an horizon of 10 years. Subjects such as: the panorama about the situation and perspectives of the international market of PL gas as well as the information at regional level of this fuel for 1990-2015 are treated. The main laws, regulations and arrangements of this industry, the evolution of the internal market of PL gas of 1995-2001 including prices which have been presented during this period, the expected evolution of the supply and demand of PL gas and the opportunities which exist in the industry in savings and efficient use of energy matter are presented. (Author)

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

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.

Impact of Public Aggregate Wind Forecasts on Electricity Market Outcomes

DEFF Research Database (Denmark)

Exizidis, Lazaros; Kazempour, Jalal; Pinson, Pierre

2017-01-01

Following a call to foster a transparent and more competitive market, member states of the European transmission system operator are required to publish, among other information, aggregate wind power forecasts. The publication of the latter information is expected to benefit market participants...... by offering better knowledge of the market operation, leading subsequently to a more competitive energy market. Driven by the above regulation, we consider an equilibrium study to address how public information of aggregate wind power forecasts can potentially affect market results, social welfare as well...... as the profits of participating power producers. We investigate, therefore, a joint day-ahead energy and reserve auction, where producers offer their conventional power strategically based on a complementarity approach and their wind power at generation cost based on a forecast. In parallel, an iterative game...

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.

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

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

Wind offering in energy and reserve markets

Science.gov (United States)

Soares, T.; Pinson, P.; Morais, H.

2016-09-01

The increasing penetration of wind generation in power systems to fulfil the ambitious European targets will make wind power producers to play an even more important role in the future power system. Wind power producers are being incentivized to participate in reserve markets to increase their revenue, since currently wind turbine/farm technologies allow them to provide ancillary services. Thus, wind power producers are to develop offering strategies for participation in both energy and reserve markets, accounting for market rules, while ensuring optimal revenue. We consider a proportional offering strategy to optimally decide upon participation in both markets by maximizing expected revenue from day-ahead decisions while accounting for estimated regulation costs for failing to provide the services. An evaluation of considering the same proportional splitting of energy and reserve in both day- ahead and balancing market is performed. A set of numerical examples illustrate the behavior of such strategy. An important conclusion is that the optimal split of the available wind power between energy and reserve strongly depends upon prices and penalties on both market trading floors.

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...

Measuring marketing effectiveness.

Science.gov (United States)

Gluckman, J; Michaelis, T

1987-09-01

The most frequent question about the marketing function in hospitals today is, What are we getting for our money? To answer this, marketing directors must convince the board first of the need for marketing, then of marketing's effectiveness. To measure marketing effectiveness, some basic needs are a staff, equipment, cooperation between departments, utilization data, and a research budget. Some steps to be followed include developing a marketing data base--consisting of demographic projections, demand projections, and market share--testing a marketing strategy through experimentation, documenting the expected results and measurement techniques, and calculating the expected return on investments. In dealing with those "impossible-to-measure" cases, such as a physician who is not advertising but finds that a competitor is, a decision tree can help determine whether to advertise and how much to spend by indicating what the return on investment might be.

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.

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

7 CFR 948.20 - Marketing policy.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing policy. 948.20 Section 948.20 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Order Regulating Handling Regulation § 948.20 Marketing policy. (a) General cull regulation. (1) It...

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.

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.

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.

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.)

Buying and selling power in a deregulated energy market

International Nuclear Information System (INIS)

Peterson, M.M.

1999-01-01

The rapid pace at which the restructuring of Ontario's electrical industry is taking place is the focus of this paper. Restructuring began in November 1997, when the government announced in its White Paper the plans to achieve a competitive market in both wholesale and retail sales by the year 2000. This presentation outlines the licensing requirements of the Ontario Energy Board (OEB). The OEB deals with the regulation of both the gas and electricity industries. It is anticipated that the electricity market will evolve in much the same was as the gas market. The OEB is expecting to deal with common issues between the two. Other topics discussed in this presentation include the Market Design Committee's (MDC) recommendations concerning independent market operator rules, market rules, embedded generation, and uniform prices throughout the province during the first 18 months to provide the parties sufficient time to adapt to the new system without having to digest transmission congestion. 3 refs

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.

7 CFR 946.50 - Marketing policy.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing policy. 946.50 Section 946.50 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Order Regulating Handling Regulation § 946.50 Marketing policy. (a) Prior to each marketing season, the...

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

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

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

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)

Liberalisation of the EU gas market. Lessons learned from other markets and countries

International Nuclear Information System (INIS)

Bisgaard, T.

2003-11-01

In this report the EU's Gas Directive 2003/55/EC is evaluated to determine whether it lays an adequate regulatory foundation to create and enhance a future competitive gas market in Europe; at national level as well as across borders. The aim is to enable the gas market to become an integrated part of the European single market. Experiences are drawn upon from the electricity and telecom markets, and from the UK and the US, that have undergone similar liberalisation processes. A market in transition from a monopoly to a liberalised market should be subject to a certain kind of regulation that is not applicable to other markets. The regulation must be designed in a way that gives the market room for development. The evaluation in this report is based on four requirements deemed important by the OECD for a changing market like the gas market. The four requirements that should be considered when regulating the gas market are: 1. Third party access to infrastructure, 2. The degree of un-bundling, 3. The regulation of tariffs, and 4. The type of regulatory authority to oversee the gas market. The report concludes that the Gas Directive provides sufficient regulation for creating competition in the national gas markets, but that it is vital to provide legislation that will harmonise rules across Europe and create the appropriate incentives for future investments in the gas structure. (BA)

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.

Information Characteristics and Errors in Expectations

DEFF Research Database (Denmark)

Antoniou, Constantinos; Harrison, Glenn W.; Lau, Morten Igel

Behavioural finance theories draw on evidence from psychology that suggest that some people respond to information in a biased manner, and construct theories of inefficient markets. However, these biases are not always robust when tested in economic conditions, which casts doubt on their relevance...... to market efficiency. We design an economic experiment to test a psychological hypothesis of errors in expectations widely cited in finance, which states that, in violations of Bayes Rule, some people respond more forcefully to the strength of an information signal. The strength of a signal is how saliently...... it supports a specific hypothesis, as opposed to its weight, which is its predictive validity. We find that the strength-weight bias affects expectations, but that its magnitude is three times lower than originally reported in the psychology literature. This suggests that its impact on financial markets...

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.

Essays on regulation, institutions, and industrial organization

Science.gov (United States)

Bergara, Mario Esteban

Essay I develops a comparative institutional analysis of network access price regulation and "light-handed" regulation. While the former is a specific-agency-based arrangement with higher political influence, the latter is a court-based system. Consequently, the main trade-off between both frameworks reflects the merits of having efficient political and judicial institutions. Price regulation is superior when distributional concerns are irrelevant and information asymmetries are lower. Poorly functioning political systems and high welfare costs of raising funds make price regulation less attractive. Light regulation is more attractive when potential rents are smaller, the monopolist is more risk averse, the judicial system is more efficient, and the threat of government intervention is more credible. The possibility of private transfers makes price regulation more advantageous. Higher information asymmetries among firms makes light-handed regulation more attractive. The main results are consistent with a plausible interpretation of the drastic deregulatory process in New Zealand. Essay II studies the preliminary effects of the deregulation of direct access in the New Zealand's electricity market. A slight improvement in quality standards and an overall efficiency increase took place after two years of deregulation. Retailers were able to successfully enter in large demand, dense areas, with a large proportion of industrial and commercial users, where incumbents were not distributing electricity efficiently. Pricing policies appears to be influenced by market forces (associated to economic and demographic characteristics) as expected in a light regulatory framework. Essay III focuses on the possibility of endogenous sunk costs and the introduction of new products. Firms that exert some monopoly power in one market and introduce a new good whose demand is determined by a broader set of consumers might be forced to change their competing strategies. If the new product

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)

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.

An evaluation of inflation expectations in Turkey

Directory of Open Access Journals (Sweden)

Barış Soybilgen

2017-03-01

Full Text Available Expectations of inflation play a critical role in the process of price setting in the market. Central banks closely follow developments in inflation expectations to implement a successful monetary policy. The Central Bank of the Republic of Turkey (CBRT conducts a survey of experts and decision makers in the financial and real sectors to reveal market expectations and predictions of current and future inflation. The survey is conducted every month. This paper examines the accuracy of these survey predictions using forecast evaluation techniques. We focus on both point and sign accuracy of the predictions. Although point predictions from CBRT surveys are compared with those of autoregressive models, sign predictions are evaluated on their value to a user. We also test the predictions for bias. Unlike the empirical evidence from other economies, our results show that autoregressive models outperform most of inflation expectations in forecasting inflation. This indicates that inflation expectations have poor point forecast accuracies. However, we show that sign predictions for all inflation expectations have value to a user.

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.

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

Expectations, Bond Yields and Monetary Policy

DEFF Research Database (Denmark)

Chun, Albert Lee

2011-01-01

expectations about inflation, output growth, and the anticipated path of monetary policy actions contain important information for explaining movements in bond yields. Estimates from a forward-looking monetary policy rule suggest that the central bank exhibits a preemptive response to inflationary expectations...... of this type may provide traders and policymakers with a new set of tools for formally assessing the reaction of bond yields to shifts in market expectations...

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.

Expectations and bubbles in asset pricing experiments

NARCIS (Netherlands)

Hommes, C.; Sonnemans, J.; Tuinstra, J.; van de Velden, H.

2008-01-01

We present results on expectation formation in a controlled experimental environment. In each period subjects are asked to predict the next price of a risky asset. The realized market price is derived from an unknown market equilibrium equation with feedback from individual forecasts. In most

New nuclear power plants and the electricity market competition

International Nuclear Information System (INIS)

Ruska, M.; Koreneff, G.

2009-11-01

The study assesses the effects the different nuclear power plant projects would have on crossownership, market concentration and market power in electricity market. The analyses are given both for Finnish and Nordic power markets. The authors feel that the electricity market should primarily be viewed as a common Nordic market in the future. During 2000 to 2008 the hours when Finland was an own price area ranged from 1 % to 29 % as annual averages. In the future it will be more and more seldom that Finland will become an own deficit price area, because the cross-border transmission capacity to Sweden will increase as will Finnish electricity production capacity. In addition, the extension of Nord Pool to the Baltic will increase the size of the market. The ownership of power plants is typically organized through power share companies in Finland. Two of the three nuclear power plant projects are joint ventures with several electricity producers and consumers. The current ownership relations and what effects the new projects might have on them were analyzed in this study. The competitiveness of different electricity production forms in the future was assessed using different market scenarios based on varying demand expectations. The capacity structure was assumed to stay quite unchanged, where the biggest change is expected to come from new renewable power capacity due to EU targets. Conventional condensing power production will decrease and Nordic electricity exports will increase in the future. The market concentration would increase in Finland with new nuclear plants, the most if Fortum were the builder. Vattenfall has a decidedly larger electricity production in the Nordic countries than Fortum, and Vattenfall's capacity would be unchanged by the new planned nuclear plants. The nuclear power plant projects do not therefore increase market concentration significantly on a Nordic level. Nuclear power is not used for day or hour regulation in Finland, which means

Creating a market: an economic analysis of the purchaser-provider model.

Science.gov (United States)

Shackley, P; Healey, A

1993-09-01

The focus of this paper is the extent to which the purchaser-provider split and the creation of a market in the provision of health care can be expected to bring about greater efficiency within the new NHS. The starting point is a theoretical discussion of markets and competition. In particular, emphasis is placed upon the economic model of perfect competition. It is argued that because of the existence of externalities, uncertainty and a lack of perfect information, an unregulated market in health care will almost certainly fail. In view of this, the imperfect provider markets of monopoly and contestable markets, which are of particular relevance to health care, are discussed. A description of the new health care market and the principal actors within it is followed by an evaluation of the new health care market. It is argued that in view of the restrictions to competition that exist between providers, some form of price regulation will be necessary to prevent monopolistic behaviour in the hospital sector. Regulation of purchasers is also suggested as a means of improving efficiency. It is concluded that competition may be a necessary condition for increased efficiency in health care provision, but is not sufficient in itself. Other incentives in the hospital sector are necessary to assist the market process and to enhance its impact on efficiency.

7 CFR 923.50 - Marketing policy.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing policy. 923.50 Section 923.50 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... COUNTIES IN WASHINGTON Order Regulating Handling Regulations § 923.50 Marketing policy. (a) Each season...

7 CFR 958.50 - Marketing policy.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing policy. 958.50 Section 958.50 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... COUNTIES IN IDAHO, AND MALHEUR COUNTY, OREGON Order Regulating Handling Regulation § 958.50 Marketing...

7 CFR 905.50 - Marketing policy.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing policy. 905.50 Section 905.50 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... TANGELOS GROWN IN FLORIDA Order Regulating Handling Regulations § 905.50 Marketing policy. (a) Before...

7 CFR 922.50 - Marketing policy.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing policy. 922.50 Section 922.50 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... IN WASHINGTON Order Regulating Handling Regulations § 922.50 Marketing policy. (a) Each season prior...

7 CFR 916.50 - Marketing policy.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing policy. 916.50 Section 916.50 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Regulating Handling Regulations § 916.50 Marketing policy. (a) Each season prior to making any...

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®

Problems of future energy market planning and optimization

International Nuclear Information System (INIS)

Lelek, V.; Jaluvka, D.

2007-01-01

Probable development of energy market is described in the article and special attention is devoted to the nuclear energy, which not only consume, but also produce raw material and how to proceed to avoid crises in supply. Problems of future energy supply of heat, liquid fuel, electricity are described. Expected effect will be jump in prices or regulated supply to equalize supply and use. It can completely change our standard consideration of profit

7 CFR 953.40 - Marketing policy.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing policy. 953.40 Section 953.40 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... STATES Order Regulating Handling Regulations § 953.40 Marketing policy. Prior to or at the same time...

7 CFR 966.50 - Marketing policy.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing policy. 966.50 Section 966.50 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Regulating Handling Regulation § 966.50 Marketing policy. Prior to or at the same time as initial...

7 CFR 906.38 - Marketing policy.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing policy. 906.38 Section 906.38 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... RIO GRANDE VALLEY IN TEXAS Order Regulating Handling Regulation § 906.38 Marketing policy. Prior to or...

7 CFR 929.46 - Marketing policy.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing policy. 929.46 Section 929.46 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... LONG ISLAND IN THE STATE OF NEW YORK Order Regulating Handling Regulations § 929.46 Marketing policy...

Optimal Offering Strategies for Wind Power in Energy and Primary Reserve Markets

DEFF Research Database (Denmark)

Soares, Tiago; Pinson, Pierre; Jensen, Tue Vissing

2016-01-01

generation from the turbines. These offering strategies aim at maximizing expected revenues from both market floors using probabilistic forecasts for wind power generation, complemented with estimated regulation costs and penalties for failing to provide primary reserve. A set of numerical examples, as well......Wind power generation is to play an important role in supplying electric power demand, and will certainly impact the design of future energy and reserve markets. Operators of wind power plants will consequently develop adequate offering strategies, accounting for the market rules...... and the operational capabilities of the turbines, e.g., to participate in primary reserve markets. We consider two different offering strategies for joint participation of wind power in energy and primary reserve markets, based on the idea of proportional and constant splitting of potentially available power...

Harmonising the balancing market Issues to be considered

Energy Technology Data Exchange (ETDEWEB)

2010-07-15

One of the work streams established in NordREG Work Programme for 2009 is related to the Nordic balancing power market and balance management. One of the tasks is to follow up the implementation of the common balance management according to what was described above, the other task is related to the efficient functioning of the Nordic balancing power market. While it has been noted that the Nordic wholesale market functions well, there is an expectation that further harmonization of the Nordic balancing power market would improve the efficiency of the market and form the basis for further integration with adjacent markets in the area of balancing services. Therefore NordREG has taken on to investigate in which areas further harmonization can be expected to be cost-efficient and contribute to a better functioning market and how this harmonized market could be monitored. The task according to the work programme is: 'In its initial work regarding Nordic balancing, NordREG noted that the common Nordic list for bids in regulation power works fairly well. However, there seems to be scope for increased efficiency. This might be attained by identifying important differences in the framework between countries as well as proposing a genuine Nordic harmonisation. It is important initially to discuss to what degree harmonisation is necessary in order to improve the efficient functioning of the market. 'In approaching these topics, NordREG has been discussing with the Nordic TSOs, where appropriate, and has made use of Nordel's publications on this topic. This report provides an overview of the current state of integration and harmonization of balancing in the Nordic region. The report also provides a summary of the harmonization measures that might be implemented in the future

Canadian electricity trends and issues : an energy market assessment

International Nuclear Information System (INIS)

2001-05-01

This report examines the supply and demand of electricity in Canada and provides a province by province analysis of trade, regulatory developments and electricity prices. The Canadian electricity market is regionally diverse, as evidenced by the variety of fuels used for power generation and the differences in market structure, regulation and pricing. Hydro accounts for 61 per cent of Canadian electricity generation. Other sources include coal (18 per cent), nuclear (13 per cent), natural gas (4 per cent) and oil and renewables (4 per cent). Most new power generation projects in Canada are expected to be gas-fired leading to a convergence between natural gas and electricity markets. Most provincial electricity markets are being adequately supplied, even with rising power demands. Alberta restructured its electricity market over a five year period culminating in full retail access on 1 January 2001. While power supply has been relatively tight in Alberta, new generation capacity is expected to become available over the next few years. Ontario plans to implement full retail access in May 2002. Most other provinces are implementing wholesale access. Canadian residential electricity prices are among the lowest of the industrialized countries, and tend to be lowest in hydro-rich provinces. Most hydro-rich provinces have surplus energy available for domestic and international trade. Some provinces are undergoing basic changes with respect to the restructuring of their markets through the unbundling of power generation, transmission and distribution services. 53 figs

The money market in Montenegro: Conditions, development and outlook

Directory of Open Access Journals (Sweden)

Vukajlović-Grba Danijela

2007-01-01

Full Text Available The money market represents a segment of financial markets wherein the objects of trading are funds with short-term maturities. The money market in Montenegro is still in its early stages of development, and is characterized by a narrow scope of trading material and by a relatively narrow variety of participants. The reasons for such slow development of the Montenegrin money market are numerous: lack of regulations, dollarization as a model of monetary and foreign exchange regime, excessive liquidity of domestic banks, insufficient liquidity in the corporate sector, limited protection of creditor rights, and minimal corporate transparency. Short-term government bonds ("T-bills"-traded exclusively on the primary market-are the only short-term securities on the Montenegrin money market. Montenegrin banks are the biggest investors in T-bills. Foreign investors withdrew from the primary T-bill market after a decrease in T-bill interest rates. For a while, many considered that inadequate solutions in the Law on Securities were the main setbacks to organizing a secondary T-bill market. However, amendments to this Law did not spark the development of a T-bill market, nor any other short-term securities market. Adequate legislation is essential for the development of the money market, but it is not a sole precondition. A decrease in banks’ liquidity (as competition from other financial institutions increases and/or deposit interest rates decline is important to induce the money market’s development. We can expect a concurrent decrease in lending interest rates only as the conditions of creditor rights protection and business operations transparency improve. Only under such conditions can we expect banks and other financial and non-financial legal entities to begin issuing short-term securities.

7 CFR 927.50 - Marketing policy.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing policy. 927.50 Section 927.50 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Order Regulating Handling Regulation of Shipments § 927.50 Marketing policy. (a) It shall be the duty of...

7 CFR 959.50 - Marketing policy.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing policy. 959.50 Section 959.50 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Regulating Handling Regulations § 959.50 Marketing policy. (a) At the beginning of each season, and as the...

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...

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)

The Influence of Emerging Markets on the Pharmaceutical Industry.

Science.gov (United States)

Tannoury, Maya; Attieh, Zouhair

2017-01-01

Emerging markets represent an exceptional opportunity for the pharmaceutical industry. Although a precise definition is not yet available, economists define emerging markets as developing prosperous countries in which investment is expected to result in higher income despite high risks. Qualifying a market as emerging is not merely based on the economic status of the country, but also on several criteria that render the definition applicable to each country. Jim O'Neil, retired chairman of asset management at Goldman Sachs, identified leading economies of emerging markets: Brazil, Russia, India, and China (BRIC) and later Brazil, Russia, India, China, and South Africa (BRICS) and then Mexico, Indonesia, South Korea, and Turkey (MIST), which followed years later as the second tier of nations. Sales of the pharmaceutical markets in BRICS and MIST countries doubled in 5 years, reaching a market share of approximately 20%. The shift toward these new markets has been attributed to the large populations, growing prosperity, and increasing life expectancy in BRICS and MIST countries. In addition, companies are experiencing flattened growth of developed markets, expiration of patents leading to the up-selling of less expensive generic drugs, and tight regulations enforced in mature markets. Particular attention must therefore be given to these emerging markets. The strategies adopted by pharmaceutical companies that want to expand in these markets must be tailored to the pace of development of each country. These countries need drugs against infectious diseases and communicable diseases such as sexually transmitted diseases. They are readily exploitable territories for the innovative products of pharmaceuticals. Nevertheless, with the increase in wealth and longevity, a change of lifestyle is occurring. These changes accompany a shift in disease patterns. A disproportionally fast rise in the incidence of noncommunicable diseases such as cardiovascular illnesses, diabetes

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.

Essays on competition in electricity markets

Science.gov (United States)

Bustos Salvagno, Ricardo Javier

The first chapter shows how technology decisions affect entry in commodity markets with oligopolistic competition, like the electricity market. I demonstrate an entry deterrence effect that works through cost uncertainty. Technology's cost uncertainty affects spot market expected profits through forward market trades. Therefore, incentives to engage in forward trading shape firms' decisions on production technologies. I show that high-cost but low-risk technologies are adopted by risk-averse incumbents to deter entry. Strategic technology adoption can end in a equilibrium where high-cost technologies prevail over low-cost but riskier ones. In the case of incumbents who are less risk-averse than entrants, entry deterrence is achieved by choosing riskier technologies. The main results do not depend on who chooses their technology first. Chapter two examines the Chilean experience on auctions for long-term supply contracts in electricity markets from 2006 to 2011. Using a divisible-good auction model, I provide a theoretical framework that explains bidding behavior in terms of expected spot prices and contracting positions. The model is extended to include potential strategic behavior on contracting decisions. Empirical estimations confirm the main determinants of bidding behavior and show heterogeneity in the marginal cost of over-contracting depending on size and incumbency. Chapter three analyzes the lag in capacity expansion in the Chilean electricity market from 2000 to 2004. Regarded as a result of regulatory uncertainty, the role of delays in the construction of a large hydro-power plant has been overlooked by the literature. We argue that those delays postponed projected investment and gave small windows of opportunity that only incumbents could take advantage of. We are able to retrace the history of investments through real-time information from the regulator's reports and a simple model enables us to explain the effect of those delays on suggested and under

TRENDS IN CONTEMPORARY PORT SERVICES MARKETS

Directory of Open Access Journals (Sweden)

Hanna Klimek

2014-12-01

Full Text Available This article describes the issues associated with functioning of contemporary seaport services markets. The growth of international supply chains, technical progress and the integration processes in shipping, growth of containerization, increasing competition in the seaport services markets and environmental protection regulations make it necessary for port service providers to adapt to the changing expectations and requirements of their customers, both shippers and, especially maritime, carriers. Thus, the activities they undertake are associated with making investments to ensure an adequate capacity to handle cargo, passengers and means of transport, required quality of service, but also with appropriate organization of port supply centres and lead to an improvement of their competitiveness. Both the factors associated with the external and internal environment of seaports affect the changes in the relationship between the supply and demand on port services markets. Contemporary port services markets are characterized by certain phenomena which can be a sign of their adaptation and development. The aim of this article is to present the essence of the port services market and its relationship with the environment, which subject to rapid and significant changes, creates new conditions for the operation of port supply centres and the entire port services market.

German Energiewende and the heating market – Impact and limits of policy

International Nuclear Information System (INIS)

Bauermann, Klaas

2016-01-01

The German Energiewende envisages achieving a climate-neutral building stock in 2050 by means of two major pillars of regulation. First, residential buildings should consume 80% less primary energy and second; the remaining energy demand should be covered primarily with renewables. This paper simulates the future German heating market under different policy scenarios in order to evaluate the impact and limits of recent and conceivable policies. The investigation is based upon a dual model approach, linking a residential heating model to a discrete choice model. The major finding is that current regulations are not suitable for the achievement of governmental targets. Scenario calculations show that additional carbon emission reductions, triggered by the current regulatory regime, are falling short of expectations. In terms of economic efficiency, all calculated policy alternatives outperform the regulation currently in place. This allows to draw the conclusion that carbon emission reductions can be achieved without a major increase in cost. The model results highlight two policy implications. First, a rising mandatory share of renewables in the heating market is needed for target achievement and can be cost effectively. Second, renewable obligations for heating systems must include the existing building stock to achieve the postulated political targets. - Highlights: •The residential heating market accounts for major share of carbon emissions. •The disregard of the building stock weakens the impact of recent regulation. •Current regulation preserves a heating market dominated by fossil fuels. •A significant renewable share can be achieved through direct regulation. •Alternative policy leads to emission reductions without major increases in costs.

Decoupling the Oil and Gas Prices. Natural Gas Pricing in the Post-Financial Crisis Market

International Nuclear Information System (INIS)

Kanai, Miharu

2011-01-01

This paper looks into natural gas pricing in the post-financial crisis market and, in particular, examines the question whether the oil-linked gas pricing system has outlived its utility as global gas markets mature and converge more rapidly than expected and as large new resources of unconventional gas shift the gas terms-of-trade. Two opposing natural gas pricing systems have coexisted for the last two decades. On the one hand, there is traditional oil-linked pricing, used in pipeline gas imports by Continental European countries and in LNG imports by the countries in Far East. The other is the system led by futures exchanges in deregulated, competitive markets largely in the UK and the US. World gas markets are changing and the basis and mechanisms of price formation are changing with them. There is no reason to expect a revolution in gas pricing, but formulas designed to address the challenges of the 1970's will need to adjust to the realities of the present and expectations for the 21. century. Because such changes will imply a redistribution of costs and benefits, vested shareholders will defend the status quo. But hopefully and ultimately, appropriately regulated markets will assert themselves and shareholders along the entire value chain will have their interests served

Investor Expectations, Business Conditions, and the Pricing of Beta-Instability Risk

OpenAIRE

William Goetzmann; Akiko Watanabe; Masahiro Watanabe

2008-01-01

This paper examines the pricing implications of time-variation in assets' market betas over the business cycle in a conditional CAPM framework. We use a half century of real GDP growth expectations from economists' surveys to determine forecasted economic states. This approach largely avoids the confounding effects of econometric forecasting model error. The expectation measure forecasts the market return controlling for existing predictive variables. The loadings on the expectation measure e...

[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.

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.

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

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

A tripartite regulation of health networks.

Science.gov (United States)

Weil, T P; Jorgensen, N E

1996-01-01

With the Republicans in power, market-driven forces of managed care plans, capitated payment, and the regional networks (alliances) are likely to serve as centerpieces for improving the organization, financing, and delivery of our nation's health services. These "voluntary" alliances of health providers and health insurance underwriters foreshadow the powerful, geographically linked regional health networks that are now becoming oligopolies. As a result of these providers developing monopolistic practices, state health services commissions will be formed to regulate market share, the scope of health services, reimbursement rates, and profits. State departments of public health will continue to focus on broader community health initiatives such as access and quality. Complexities of relationships among those regulated by these responsible agencies, and the interfacing of these state health services commissions and state departments of public health and insurance, with their potentially conflicting goals and political forces, are expected.

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.

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

Positioning marketing in the hospital's power structure.

Science.gov (United States)

Beckham, D

1984-08-01

Although hospitals are increasingly recognizing the importance of marketing, many have difficulty assimilating what has been primarily an industrial concern into a health care environment. The author explains the function of marketing in health care, the outlook and expectations of a good marketing executive, and why hospital management and the medical staff may have difficulty accepting marketing and the expectations of the marketing executive.

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.

Offer of secondary reserve with a pool of electric vehicles on the German market

International Nuclear Information System (INIS)

Jargstorf, Johannes; Wickert, Manuel

2013-01-01

This paper analyzes the business case of offering secondary downward reserve for frequency control on the German market by a pool of electrical vehicles. Former benchmark studies promised high revenues especially for this case. The benefits could provide an incentive to customers to buy an electric vehicle. The business case is analyzed for the German market as a case study. Specific regulations for this market, real driving patterns and real market data are taken into account when calculating revenues. Secondary reserve is strictly regulated, requiring a very high level of availability. As a result, simulated revenues are lower than assumed. Simulation shows average revenues of less than 5€ per month and vehicle. As a major bottleneck for an offer of secondary reserve, fully charged batteries are identified. Additionally an issue is made of costs for communication and customer compensation. Based on the simulation results, it is argued that the market for secondary reserve should not be accessed with these small units. For electric vehicles, easier accessible markets with lower related costs should be considered instead. -- Highlights: •We analyze a business case of providing reserve power with electric vehicles. •We include legal regulations for providing reserve power in the calculation. •Reserve requirements lead to a significant drop in expected revenues. •Results show that vehicles are not suitable to offer reserve power

Regional patterns of disability-free life expectancy and disability-adjusted life expectancy: global Burden of Disease Study.

Science.gov (United States)

Murray, C J; Lopez, A D

1997-05-10

Information on non-fatal health outcomes of disease and injury has been largely neglected in health planning because of the conceptual and definitional complexity of measuring morbidity and disability in populations. One of our major objectives was to quantify disability for inclusion in health policy debates. We analysed these health outcomes in terms of disability-free life expectancy (DFLE) and disability-adjusted life expectancy (DALE). Published and unpublished data were systematically reviewed to estimate the incidence, prevalence, and duration of 483 disabling sequelae of 107 diseases and injuries. To ensure internal consistency of these estimates, a software programme (DISMOD) was applied many times until consistent parameters were identified. The severity of disability, on a scale of 0 (perfect health) to 1 (death), was measured in a deliberate manner by the person-trade-off method. Spearman's and Pearson's correlation coefficients were used to measure disability weights among groups. Prevalence of seven classes of disability was back-calculated from the distribution of each disabling sequela across disabilities. Prevalence for each class of disability for different age-sex groups was used to calculate seven forms of DFLE and DALE based on Sullivan's method. Prevalence of most disability classes is highest in sub-Saharan Africa and lowest in established market economies. Low-severity disabilities (class I and class II) are the most common. The expectation at birth of class I disability ranges from 6.5 years in established market economies to 14.7 years in sub-Saharan Africa, and for class II disabilities, from 8.5-18.4 years. DFLE varies significantly among regions: DFLE for class I disabilities at birth ranges from 9.9 years in sub-Saharan Africa to 47.7 years in established market economies for females and DFLE for class V disabilities ranges from 43.4 years for men in sub-Saharan Africa to 74.8 years for women in established market economies. The

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

7 CFR 916.15 - Marketing season.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing season. 916.15 Section 916.15 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Regulating Handling Definitions § 916.15 Marketing season. Marketing season means the period beginning on...

7 CFR 29.37 - Designated market.

Science.gov (United States)

2010-01-01

... 7 Agriculture 2 2010-01-01 2010-01-01 false Designated market. 29.37 Section 29.37 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... INSPECTION Regulations Definitions § 29.37 Designated market. An auction market designated by the Secretary...

7 CFR 927.12 - Export market.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Export market. 927.12 Section 927.12 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Order Regulating Handling Definitions § 927.12 Export market. Export market means any destination which...

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.

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.

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.

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

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.

7 CFR 989.54 - Marketing policy.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing policy. 989.54 Section 989.54 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... CALIFORNIA Order Regulating Handling Marketing Policy § 989.54 Marketing policy. (a) Trade demand. On or...

7 CFR 984.7 - Marketing year.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing year. 984.7 Section 984.7 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Regulating Handling Definitions § 984.7 Marketing year. Marketing year means the twelve months from September...

7 CFR 993.41 - Marketing policy.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing policy. 993.41 Section 993.41 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Order Regulating Handling Marketing Policy § 993.41 Marketing policy. (a) On or before the first Tuesday...

7 CFR 947.50 - Marketing policy.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing policy. 947.50 Section 947.50 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Regulation § 947.50 Marketing policy. (a) Preparation. Prior to each marketing season the committee shall...

7 CFR 982.17 - Marketing year.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing year. 982.17 Section 982.17 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... WASHINGTON Order Regulating Handling Definitions § 982.17 Marketing year. Marketing year means the 12 months...

Utility-Marketer Partnerships. An Effective Strategy for Marketing Green Power?

Energy Technology Data Exchange (ETDEWEB)

Bird, L. A. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Brown, E. S. [National Renewable Energy Lab. (NREL), Golden, CO (United States)

2006-04-01

This paper explores whether partnerships between utilities and independent marketers are an effective strategy for marketing green power. We present case studies of voluntary and mandatory partnerships covering green power program design and implementation in both regulated and restructured electricity markets. We also include perspectives (based on interviews) from utilities, marketers, and regulators involved in developing and implementing these partnerships. From these case studies and interviews, we describe lessons learned about developing effective partnerships, including such issues as respective roles in marketing and administration, product branding, and contract and incentive structures. Based on experience to date, strategic partnerships between utilities and marketers can be an effective approach to marketing green power. Partnerships leverage the sales and resource procurement experience of marketers and the utility’s reputation and access to customers. Further, partnerships can create greater incentives for success because marketers have a vested financial interest in maximizing customer participation and green power sales.

Utility-Marketing Partnerships: An Effective Strategy for Marketing Green Power?

Energy Technology Data Exchange (ETDEWEB)

Bird, L. A.; Brown, E. S.

2006-04-01

This paper explores whether partnerships between utilities and independent marketers are an effective strategy for marketing green power. We present case studies of voluntary and mandatory partnerships covering green power program design and implementation in both regulated and restructured electricity markets. We also include perspectives (based on interviews) from utilities, marketers, and regulators involved in developing and implementing these partnerships. From these case studies and interviews, we describe lessons learned about developing effective partnerships, including such issues as respective roles in marketing and administration, product branding, and contract and incentive structures. Based on experience to date, strategic partnerships between utilities and marketers can be an effective approach to marketing green power. Partnerships leverage the sales and resource procurement experience of marketers and the utility?s reputation and access to customers. Further, partnerships can create greater incentives for success because marketers have a vested financial interest in maximizing customer participation and green power sales.

Forms of Functioning of the Modern Market of Addictive Goods Market

Directory of Open Access Journals (Sweden)

Roman Yu. Skokov

2017-06-01

Full Text Available The classification of forms of markets for addictive goods was made according to the criterion of exchange (absent, emerging, free, oligopolistic, monopolistic, monopoly. There were systematized approaches to argument for the state monopolization of the markets. Reducing the supply, increasing prices, reducing the influence of the motive of private profit are crucial. There was made the classification and analysis of prevailing forms of state markets for addictive goods in the international practice. They are: state monopolistic, competitive, prohibitionists, medical, antiprohibitionists mixed. Based on this there were marked modern features of their state regulation due to the consumer culture, religious prohibitions, the effectiveness of measures in demand reducing, diametrically different approaches to new markets, international split in the prohibition of the drug market. Domestic specifics associated with skimping on experience of regulation of the alcoholic market in a similar pattern of consumption in the Nordic countries, inadequate implementation capacity of state regulation of demand for tobacco products, with the creation of barriers to the development of gambling and new markets for addictive goods, with a veto on the liberalization of the drug market. Based on a comprehensive assessment of the market potential of business entities in specific markets there were offered socially appropriate forms of their states: in the markets of gambling and drugs a combination of the policy of prohibition and monopoly-oligopolistic proposals, in oligopolistic markets tobacco products and energy drinks the monopoly, in the markets of alcoholic products the differentiated approach.

Plug-In Hybrid Electric Vehicle Market Introduction Study: Final Report

Energy Technology Data Exchange (ETDEWEB)

Sikes, Karen [Sentech, Inc.; Gross, Thomas [Sentech, Inc.; Lin, Zhenhong [ORNL; Sullivan, John [University of Michigan Transportation Research Institute; Cleary, Timothy [Sentech, Inc.; Ward, Jake [U.S. Department of Energy

2010-02-01

Oak Ridge National Laboratory (ORNL), Sentech, Inc., Pacific Northwest National Laboratory (PNNL)/University of Michigan Transportation Research Institute (UMTRI), and the U.S. Department of Energy (DOE) have conducted a Plug-in Hybrid Electric Vehicle (PHEV) Market Introduction Study to identify and assess the effect of potential policies, regulations, and temporary incentives as key enablers for a successful market debut. The timeframe over which market-stimulating incentives would be implemented - and the timeframe over which they would be phased out - are suggested. Possible sources of revenue to help fund these mechanisms are also presented. In addition, pinch points likely to emerge during market growth are identified and proposed solutions presented. Finally, modeling results from ORNL's Market Acceptance of Advanced Automotive Technologies (MA3T) Model and UMTRI's Virtual AutoMotive MarketPlace (VAMMP) Model were used to quantify the expected effectiveness of the proposed policies and to recommend a consensus strategy aimed at transitioning what begins as a niche industry into a thriving and sustainable market by 2030. The primary objective of the PHEV Market Introduction Study is to identify the most effective means for accelerating the commercialization of PHEVs in order to support national energy and economic goals. Ideally, these mechanisms would maximize PHEV sales while minimizing federal expenditures. To develop a robust market acceleration program, incentives and policies must be examined in light of: (1) clarity and transparency of the market signals they send to the consumer; (2) expenditures and resources needed to support them; (3) expected impacts on the market for PHEVs; (4) incentives that are compatible and/or supportive of each other; (5) complexity of institutional and regulatory coordination needed; and (6) sources of funding.

Hard Copy Market Overview

Science.gov (United States)

Testan, Peter R.

1987-04-01

A number of Color Hard Copy (CHC) market drivers are currently indicating strong growth in the use of CHC technologies for the business graphics marketplace. These market drivers relate to product, software, color monitors and color copiers. The use of color in business graphics allows more information to be relayed than is normally the case in a monochrome format. The communicative powers of full-color computer generated output in the business graphics application area will continue to induce end users to desire and require color in their future applications. A number of color hard copy technologies will be utilized in the presentation graphics arena. Thermal transfer, ink jet, photographic and electrophotographic technologies are all expected to be utilized in the business graphics presentation application area in the future. Since the end of 1984, the availability of color application software packages has grown significantly. Sales revenue generated by business graphics software is expected to grow at a compound annual growth rate of just over 40 percent to 1990. Increased availability of packages to allow the integration of text and graphics is expected. Currently, the latest versions of page description languages such as Postscript, Interpress and DDL all support color output. The use of color monitors will also drive the demand for color hard copy in the business graphics market place. The availability of higher resolution screens is allowing color monitors to be easily used for both text and graphics applications in the office environment. During 1987, the sales of color monitors are expected to surpass the sales of monochrome monitors. Another major color hard copy market driver will be the color copier. In order to take advantage of the communications power of computer generated color output, multiple copies are required for distribution. Product introductions of a new generation of color copiers is now underway with additional introductions expected

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

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

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.

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.

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

COORDINATES OF POSTAL SERVICES MARKET IN ROMANIA

Directory of Open Access Journals (Sweden)

Cristinel CONSTANTIN

2012-01-01

Full Text Available This paper contains a research regarding the actual status of Romanian postal services market both from legislative and economic point of view in the context of EU integration. The main objectives of this research were to identify the position of Romanian postal services among the EU member countries and to analyse the competitive environment on the local market in order to find future development strategies for the local companies. The outcomes of our research show a wrong position of Romanian postal sector both regarding the number of permanent offices and financial results of local competitors. The lateness of structural reforms could be a barrier for the future market liberalisation with serious consequences from the social point of view. In this context, a high implication of authorities is expected in order to ensure the adoption of EU regulation with a minimum of negative effects both for population and service providers.

7 CFR 985.9 - Marketing year.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing year. 985.9 Section 985.9 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements and Orders; Fruits, Vegetables, Nuts), DEPARTMENT OF AGRICULTURE MARKETING ORDER REGULATING THE...

7 CFR 985.50 - Marketing policy.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing policy. 985.50 Section 985.50 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements and Orders; Fruits, Vegetables, Nuts), DEPARTMENT OF AGRICULTURE MARKETING ORDER REGULATING THE...

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.

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

Marketized State Ownership and Foreign Expansion of Emerging Market Multinationals

DEFF Research Database (Denmark)

Li, Ming Hua; Cui, Lin; Lu, Jiangyong

2017-01-01

direct investment. We argue that firms with marketized state ownership may derive institutional competitive advantages from their dual responsiveness to shifting global market conditions and home government expectations which has a positive impact on their foreign investment decisions. However...

Markets, marketing and developing countries : where we stand and where we are heading

NARCIS (Netherlands)

Trijp, van J.C.M.; Ingenbleek, P.T.M.

2010-01-01

Markets are increasingly seen as vehicles to solve problems in developing countries. For example, improvements in market performance make potentially important contributions to achieve the Millennium Development Goals. Access of smallholders to well-functioning markets is increasingly expected to

The effects of Basel III liquidity regulations on banks’ profitability

Directory of Open Access Journals (Sweden)

Tafirei Mashamba

2018-05-01

Full Text Available The new Basel III Liquidity Coverage Ratio standard which encourages banks to maintain a diversified pool of high-quality liquid assets against their short-term expected net cash outflows although it appears to be noble from a theoretic perspective it may weigh down banks’ performance because liquid assets earn low returns. It is against this background that this study sought to evaluate the impact of the new Basel III liquidity regulations on the profitability of banks in emerging market economies. A sample of 40 banks operating in 11 emerging markets over the period 2011 to 2016 was used in the study. For estimation, system Generalized Method of Moments (GMM estimator was employed. Surprisingly, empirical results demonstrated that regulatory pressure stemming from Liquidity Coverage Ratio requirement increased instead of diminishing the profitability of banks in emerging markets. The plausible explanation given for this evidence was that banks in emerging markets managed their liquidity in a manner that is consistent with Liquidity Coverage Ratio rule hence the regulation had no detrimental effects on banks in emerging economies.

7 CFR 956.60 - Marketing policy.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing policy. 956.60 Section 956.60 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... VALLEY OF SOUTHEAST WASHINGTON AND NORTHEAST OREGON Regulation § 956.60 Marketing policy. (a) Preparation...

7 CFR 925.50 - Marketing policy.

Science.gov (United States)

2010-01-01

... 7 Agriculture 8 2010-01-01 2010-01-01 false Marketing policy. 925.50 Section 925.50 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... SOUTHEASTERN CALIFORNIA Regulations § 925.50 Marketing policy. Each season prior to making any recommendation...

Do Students Expect Compensation for Wage Risk?

Science.gov (United States)

Schweri, Juerg; Hartog, Joop; Wolter, Stefan C.

2011-01-01

We use a unique data set about the wage distribution that Swiss students expect for themselves ex ante, deriving parametric and non-parametric measures to capture expected wage risk. These wage risk measures are unfettered by heterogeneity which handicapped the use of actual market wage dispersion as risk measure in earlier studies. Students in…

Supply security and short-run capacity markets for electricity

International Nuclear Information System (INIS)

Creti, Anna; Fabra, Natalia

2007-01-01

The creation of electricity markets has raised the fundamental question as to whether markets create the right incentives for the provision of the reserves needed to maintain supply security in the short-run, or whether some form of regulation is required. In some states in the US, electricity distributors have been made responsible for providing such reserves by contracting capacity in excess of their forecasted peak demand. The so-called Installed Capacity Markets provide one means of contracting reserves, and are the subject of this paper. Under monopoly as well as under perfect competition, we identify firms' short-run opportunity costs of committing resources in the capacity market and the costs of inducing full capacity commitment. The long-run investment problem is not considered. From a welfare viewpoint, we also compare the desirability of providing reserves either through capacity markets or through the demand side (i.e. power curtailments). At the optimum, capacity obligations equal peak demand (plus expected outages) and the capacity deficiency rate (which serves as a price cap) is set at firms' opportunity costs of providing full capacity commitment. (Author)

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...

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

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

Patient Awareness and Expectations of Pharmacist Services During Hospital Stay.

Science.gov (United States)

King, Philip K; Martin, Steven J; Betka, Eric M

2017-10-01

There are insufficient data in the United States regarding patient awareness and expectations of hospital pharmacist availability and services. The objective of this research is to assess patient awareness and expectations of hospital pharmacist services and to determine whether a marketing campaign for pharmacist services increases patient awareness and expectations. Eligible inpatients were surveyed before and after implementation of a hospital-wide pharmacist services marketing campaign (12 items; Likert scale of 1 [strongly disagree] to 4 [strongly agree]; maximum total score of 48) regarding awareness of pharmacist services. The primary outcome was the change in median total survey scores from baseline. Other outcomes included the frequency of patient requests for pharmacists. Similar numbers of patients completed the survey before and after the campaign (intervention, n = 140, vs control, n = 147). Awareness of pharmacist availability and services was increased (41 [interquartile ranges, IQRs: 36-46] vs 37 [IQR 31-43]; P marketing campaign implementation. Awareness among inpatients of pharmacist services is low. Marketing pharmacist availability and services to patients in the hospital improves awareness and expectations for pharmacist-provided care and increases the frequency of patient-initiated interaction between pharmacists and patients. This could improve patient outcomes as pharmacists become more integrally involved in direct patient care.