WorldWideScience

Sample records for resellers pricing regulations

  1. The local brand representative in reseller networks

    OpenAIRE

    Gupta, Suraksha; Malhotra, Naresh K; Czinkota, Michael; Foroudi, Pantea

    2016-01-01

    This study investigates the characteristics of local individuals who represent a brand to its resellers by first conceptualizing these characteristics by employing complexity theory and then testing the conceptualization. This research revealed that four characteristics ‘native’, ‘entrepreneurial’, ‘advisor’, and ‘compatible’ are the main ones that influence reseller brand preferences. The study finds a link between reseller brand preference and reseller brand loyalty which is useful for mana...

  2. Energy resellers - An endangered species?

    International Nuclear Information System (INIS)

    Ygge, F.

    1999-04-01

    Many markets, including the travel, music, and book markets, are undergoing dramatic changes due do the development of electronic commerce. Reseller margins often decrease significantly and some times even entire links in the supply chain are becoming completely superfluous. Even though power markets have been deregulated already for some years in many countries, electronic commerce has not yet had a major impact on the business logic. This paper presents some of the major obstacles to electronic power trade, and presents promising solutions to these obstacles. In particular it is described how software agent mediated trade may enable medium and small size consumers and producers to trade directly from power pools, without the need of traditional energy resellers. The conclusion that is there are good reasons to believe that energy resellers are as threatened in the new information era as, e.g., traditional travel agencies, and music and book-shops are

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

    DEFF Research Database (Denmark)

    Boom, Anette

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

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

    DEFF Research Database (Denmark)

    Boom, Anette

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

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

    Science.gov (United States)

    Puig-Junoy, Jaume

    2010-01-01

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

  6. Price regulation and international resource supply

    Energy Technology Data Exchange (ETDEWEB)

    Siebert, H

    1982-03-01

    Price regulation is an instrument between two diverging aims: The demand for low resource prices motivated by the principle of equal distribution in our day, and the desire for economical management of resources as a responsibility we have to future generations. The present publication investigates how price regulation influences intertemporal supply of resources. For the assumed cases constant resource price, constant admissible increase in resource price, expected release of resource price and deregulation of a price held constant for a period of time mathematical models are developmed.

  7. Regulated and unregulated Nordic retail prices

    International Nuclear Information System (INIS)

    Johnsen, Tor Arnt; Olsen, Ole Jess

    2011-01-01

    Nordic residential electricity consumers can now choose among a number of contracts and suppliers. A large number of households have continued to purchase electricity from the incumbent supplier at default contract terms. In this paper, we compare the situation for such passive customers. Danish default prices are regulated whereas default prices in the other countries are unregulated. Systematic price differences exist among the Nordic countries. However, as wholesale prices sometimes differ the gross margin is a more relevant indicator. Regulated gross margins are lower in Denmark than in Sweden but higher than in Norway and Finland. Because of market design Norwegian default contracts are competitive whereas Swedish contracts provide the retailer with some market power. We interpret the low Finnish margins as a result of municipal retailers continuing traditional pricing from the monopoly period. Danish margins are higher than the competitive Norwegian margins but are earned from a much lower level of consumption. The annually margins earned per consumer are very close in the two countries, which indicates that the Danish regulation is achieving its objective of approaching competitive prices. - Highlights: → Prices of active and passive Nordic residential electricity consumers are compared. → Active consumers get lower prices in Sweden but not in Norway. → Prices of passive consumers differ considerably among the four Nordic countries. → Danish regulated prices compare well with unregulated prices in the other countries. → Passive consumers in Finland have low prices compared with the other countries.

  8. Regulated and unregulated Nordic retail prices

    Energy Technology Data Exchange (ETDEWEB)

    Johnsen, Tor Arnt, E-mail: tor.a.johnsen@bi.no [Norwegian School of Management BI, NO-0442 Oslo (Norway); Olsen, Ole Jess, E-mail: ojo@ruc.dk [Department of Environmental, Social and Spatial Change (ENSPAC), Roskilde University, Building 10.1, Universitetsvej 1, DK-4000, Roskilde (Denmark)

    2011-06-15

    Nordic residential electricity consumers can now choose among a number of contracts and suppliers. A large number of households have continued to purchase electricity from the incumbent supplier at default contract terms. In this paper, we compare the situation for such passive customers. Danish default prices are regulated whereas default prices in the other countries are unregulated. Systematic price differences exist among the Nordic countries. However, as wholesale prices sometimes differ the gross margin is a more relevant indicator. Regulated gross margins are lower in Denmark than in Sweden but higher than in Norway and Finland. Because of market design Norwegian default contracts are competitive whereas Swedish contracts provide the retailer with some market power. We interpret the low Finnish margins as a result of municipal retailers continuing traditional pricing from the monopoly period. Danish margins are higher than the competitive Norwegian margins but are earned from a much lower level of consumption. The annually margins earned per consumer are very close in the two countries, which indicates that the Danish regulation is achieving its objective of approaching competitive prices. - Highlights: > Prices of active and passive Nordic residential electricity consumers are compared. > Active consumers get lower prices in Sweden but not in Norway. > Prices of passive consumers differ considerably among the four Nordic countries. > Danish regulated prices compare well with unregulated prices in the other countries. > Passive consumers in Finland have low prices compared with the other countries.

  9. Regulated and unregulated Nordic retail prices

    DEFF Research Database (Denmark)

    Olsen, Ole Jess; Johnsen, Tor Arnt

    2011-01-01

    in Sweden but higher than in Norway and Finland. Because of market design Norwegian default contracts are competitive whereas Swedish contracts provide the retailer with some market power. We interpret the low Finnish margins as a result of municipal retailers continuing traditional pricing from...... competitive prices....... default prices are regulated whereas default prices in the other countries are unregulated. Systematic price differences exist among the Nordic countries. However, as wholesale prices sometimes differ the gross margin is a more relevant indicator. Regulated gross margins are lower in Denmark than...

  10. Does drug price-regulation affect healthcare expenditures?

    Science.gov (United States)

    Ben-Aharon, Omer; Shavit, Oren; Magnezi, Racheli

    2017-09-01

    Increasing health costs in developed countries are a major concern for decision makers. A variety of cost containment tools are used to control this trend, including maximum price regulation and reimbursement methods for health technologies. Information regarding expenditure-related outcomes of these tools is not available. To evaluate the association between different cost-regulating mechanisms and national health expenditures in selected countries. Price-regulating and reimbursement mechanisms for prescription drugs among OECD countries were reviewed. National health expenditure indices for 2008-2012 were extracted from OECD statistical sources. Possible associations between characteristics of different systems for regulation of drug prices and reimbursement and health expenditures were examined. In most countries, reimbursement mechanisms are part of publicly financed plans. Maximum price regulation is composed of reference-pricing, either of the same drug in other countries, or of therapeutic alternatives within the country, as well as value-based pricing (VBP). No association was found between price regulation or reimbursement mechanisms and healthcare costs. However, VBP may present a more effective mechanism, leading to reduced costs in the long term. Maximum price and reimbursement mechanism regulations were not found to be associated with cost containment of national health expenditures. VBP may have the potential to do so over the long term.

  11. 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.

  12. [International reference prices and cost minimization analysis for the regulation of medicine prices in Colombia].

    Science.gov (United States)

    Vacca, Caludia; Acosta, Angela; Rodriguez, Ivan

    2011-01-01

    To suggest a scheme of decision making on pricing for medicines that are part of Free Regulated Regime, a regulation way of the pharmaceutical pricing policy in Colombia. It includes two regulation tools: international reference prices and a cost minimization analysis methodology. Following the current pricing policy, international reference prices were built with data from five countries for selected medicines, which are under Free Regulated Regime. The cost minimization analysis methodology includes selection of those medicines under Free Regulated Regime with possible comparable medicines, selection of comparable medicines, and treatment costs evaluation. As a result of the estimate of International Reference Prices, four medicines showed in the domestic pharmaceutical market a bigger price than the Reference Price. A scheme of decision-making was design containing two possible regulation tools for medicines that are part of Free Regulated Regime: estimate of international reference prices and cost minimization analysis methodology. This diagram would be useful to assist the pricing regulation of Free Regulated Regime in Colombia. As present results shows, international reference prices make clear when domestic prices are higher than those of reference countries. In the current regulation of pharmaceutical prices in Colombia, the international reference price has been applied for four medicines. Would be suitable to extend this methodology to other medicines of high impact on the pharmaceutical expenditure, in particular those covered by public funding. The availability of primary sources about treatment costs in Colombia needs to be improved as a requirement to develop pharmaco-economic evidence. SISMED is an official database that represents an important primary source of medicines prices in Colombia. Nevertheless, having into account that SISMED represents an important advantage of transparency in medicines prices, it needs to be improved in quality and data

  13. Middle distillate price monitoring system. Interim validation report. [No. 2 heating oil

    Energy Technology Data Exchange (ETDEWEB)

    Hopelain, D.G.; Freedman, D.; Rice, T.H.; Veitch, J.G.; Finlay, A.

    1978-12-01

    The Middle Distillate Price Monitoring System collects data on prices and gross margins for No. 2 heating oil from a sample of refiners, resellers, and retailers. The data is used to evaluate the level of competition and the reasonableness of prices in the heating oil market. It is concluded that the data does not provide a basis for determining whether a market is competitive, and that there is serious doubt as to the accuracy of the information collected by the system. Some recommendations are given for improving the quality of the information. (DLC)

  14. Towards cyber-resilient & sustainable SMES: the case study of added value from a large IT reseller

    OpenAIRE

    Hills, Mils; Atkinson, Louise

    2016-01-01

    This chapter reports on and discusses an extensive interview conducted by the authors with the head of pre-sales at a hardware and software re-seller. The Pre-Sales division of the reseller provides advice based on end-to-end solution for IT infrastructure and technology management. Within the team there is expertise spanning a plethora of specifically defined technology areas to support end customers in the decision making process on their capital expenditure in IT equipment. Areas include S...

  15. Yedinci Sınıf Öğrencilerinin Küresel Isınma Konusundaki Zihinsel Modelleri

    OpenAIRE

    EMLİ, Zübeyir; AFACAN, Özlem

    2018-01-01

    Bu çalışma, yedinci sınıf öğrencilerinin küreselısınmaya ilişkin sahip oldukları zihinsel modellerini belirleme amacıylagerçekleştirilmiştir. Çalışma grubunu, 2012-2013 eğitim-öğretim yılında Aortaokulu 7. sınıflarında öğrenim gören 185 öğrenci oluşturmaktadır.Araştırmanın verileri “Küresel Isınma Anket Formu” (KIAF) ile toplanmıştır.Öğrencilere uygulanan anket formunda küresel ısınma konusu ile ilgili açık uçlusorulara yer verilmiştir. Bu araştırmada, nitel araştırma desenlerinden durumçalış...

  16. The effect of costs and regulation on electricity prices

    International Nuclear Information System (INIS)

    Schlaf, E.P.

    1991-01-01

    Two distinct econometric tests were performed to determine if state price regulation of public utilities has had a measurable impact on retail electricity prices. The results of both tests agree that, during the 1971-1985 period, average national electricity prices in each of the three major consuming sectors and the four Census regions were below the level which would have been preferred by profit-maximizing monopolists. Electricity consumers received price benefits during the sample period as a result of regulation. The first test of the effectiveness of state price regulation used a 'revealed preference' approach by comparing the actual prices set by regulatory commissioners with prices and outcomes predicted by three competing theories of regulatory motivation. The second test of the effectiveness of price regulation combined traditional cost function inputs with regulatory variables in reduced-form price equations to determine whether the amount of regulatory intensity, as measured by the number of staff members per regulated utility, is associated with declining electricity prices and whether appointed commissioners allow higher prices than elected commissioners

  17. Effects of regulation on drug launch and pricing in interdependent markets.

    Science.gov (United States)

    Danzon, Patricia M; Epstein, Andrew J

    2012-01-01

    This study examines the effect of price regulation and competition on launch timing and pricing of new drugs. Our data cover launch experience in 15 countries from 1992 to 2003 for drugs in 12 major therapeutic classes. We estimate a two-equation model of launch hazard and launch price of new drugs. We find that launch timing and prices of new drugs are related to a country's average prices of established products in a class. Thus to the extent that price regulation reduces price levels, such regulation directly contributes to launch delay in the regulating country. Regulation by external referencing, whereby high-price countries reference low-price countries, also has indirect or spillover effects, contributing to launch delay and higher launch prices in low-price referenced countries. Referencing policies adopted in high-price countries indirectly impose welfare loss on low-price countries. These findings have implications for US proposals to constrain pharmaceutical prices through external referencing and drug importation.

  18. A Pedagogical Note on the Superiority of Price-Cap Regulation to Rate-of-Return Regulation

    Science.gov (United States)

    Currier, Kevin M.; Jackson, Brian K.

    2008-01-01

    The two forms of natural monopoly regulation that are typically discussed in intermediate microeconomics textbooks are marginal cost pricing and average cost pricing (rate-of-return regulation). However, within the last 20 years, price-cap regulation has largely replaced rate-of-return regulation because of the former's potential to generate more…

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

    International Nuclear Information System (INIS)

    2007-03-01

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

  20. Does energy-price regulation benefit China's economy and environment? Evidence from energy-price distortions

    International Nuclear Information System (INIS)

    Ju, Keyi; Su, Bin; Zhou, Dequn; Wu, Junmin

    2017-01-01

    China's energy prices have long been regulated due to the critical role energy plays in economic growth and social development, which leads to energy-price distortion to some extent. To figure out whether energy-price regulations will benefit China's economy (measured by GDP growth) and environment (measured by carbon emissions), we conducted an in-depth simulation using path analysis, where five energy products (natural gas, gasoline, fuel oil, steam coal, and coking coal) are selected and three measurements (absolute, relative, and moving) of energy-price distortions are calculated. The results indicate that, with a series of energy pricing policies, the price distortion for a single type of energy has gradually transformed, while the energy pricing system in China is not fully market-oriented yet. Furthermore, China's economy benefits from relative and moving distortions, while the absolute distortions of energy prices have negative impacts on economic growth. Finally, with regard to the environment, carbon emissions call for fewer distortions. - Highlights: • Price distortion for a single type of energy has gradually transformed. • Energy pricing system in China is not yet fully market-oriented. • China's economy benefits from relative and moving distortions. • Absolute distortions of energy prices have negative effects on economic growth. • Carbon emissions call for less pricing distortions.

  1. A European map regarding the strictness of the transfer pricing regulations

    Directory of Open Access Journals (Sweden)

    Ioana Ignat

    2017-12-01

    Full Text Available In the context in which transfer pricing may represent a mechanism through which multinationals have the possibility to move funds internationally, in order to prevent the base erosion and profit shifting between multinationals, countries over the world have adopted various transfer pricing regulations. Furthermore, some of the countries adopted stricter regulations than others. The objective of our research was to identify the level of strictness for the transfer pricing regulations from the European countries. To achieve this objective, we analyzed the transfer pricing regulations of all European countries and we built a transfer pricing strictness index, based on which we defined 4 categories of countries (where category 1 includes the countries with the least strict transfer pricing regulations and category 4 countries with the strictest regulations. After that, we illustrated how these categories are distributed on the European map. In order to collect the information, we used the transfer pricing guides issued by the Big Four companies for the year 2015. The study`s results show that the strictness of the transfer pricing regulations decreases from the west of Europe to east. Moreover, most of the countries were included in category 2, respectively category 3, meaning that the transfer pricing regulations from the European continent are not so flexible, but in the same time are not so strict.

  2. resel İklim Değişikliğinin Ekoloji Üzerine Etkileri

    OpenAIRE

    DURSUN, Sukru; KUNT, Fatma; OZTURK, Zeynep Cansu; VRENOZI, Blerina

    2015-01-01

    İklim özellikleri insan faaliyetleri ve küresel ekoloji, içinde bulunan ekosistemi sınırlayıcı etkilere sahiptir. İklim değişikliği, kuraklık, sel şiddeti ve sıklığındaki değişiklikler; su kaynağı; hava, toprak ve su kalitesi; Ekosistem sağlığı; insan sağlığı; kaynak kullanımı ve ekonomi üzerinde etkilere sahiptir. İklim değişikliği birden faklı yol aracılığıyla etki edebilir; küresel ekosistem üzerinde etkileşimleri ve farklı yollarla etkileri olabilir. Ekosistem ortamında, arazi kullanımı d...

  3. REGULATION OF SPATIAL PRICE DISCRIMINATION: RUSSIAN AND INTERNATIONAL PRACTICE

    Directory of Open Access Journals (Sweden)

    Dmitry Bogdanov

    2015-05-01

    Full Text Available The article deals with the identification and regulation of spatial price discrimination in the context of the development of the methodology of Antimonopoly regulation. In particular, the problems of normative definition of spatial price discrimination and the practice of its USA, EU and Russia regulation and their development.

  4. Exploring the impact of a spatial data infrastructure on value-added resellers and vice versa

    CSIR Research Space (South Africa)

    Cooper, Antony K

    2013-08-01

    Full Text Available , Information and Computational Viewpoints of the Reference Model for Open Distributed Processing. Within the Enterprise Viewpoint, we identified six stakeholders, including a Value-added Reseller (VAR), a stakeholder who adds value to an existing product...

  5. ÜÇ KÜRESEL EKONOMİK KRİZİN ANALİZİ

    Directory of Open Access Journals (Sweden)

    Hakan AY

    2015-01-01

    Full Text Available ÖZ: Ekonomik krizin tarihi, ekonominin tarihi kadar eskidir. Ekonomik faaliyetlerin başladığı andan itibaren ekonomik bir krizin doğma ihtimali vardı. Bu ihtimal üç kere tüm dünyayı içine alacak kadar büyük ölçüde gerçekleşmiştir. Bunların ilki 1929 yılında başlayan ve 1940ların ortasına kadar süren Büyük Burhan’dı. Büyük Buhran, I. Dünya Savaşı, deregülasyon politikaları, yatırımcı ve tüketici davranışlarına kadar pek çok etken ile başlamış, regülasyon politikaları ile son bulmuştu. OPEC Krizinin, regülasyon uygulamaları ile son bulmasına rağmen deregülasyon politikalarına tekrar dönülmesine neden oldu. 2008 küresel mali krizi yine deregülasyon politikalarının neden olduğu bir kriz olmuş ve regülasyon politikaları bertaraf edilmeye çalışılmaktadır. Çalışmada bu üç krizin nedenleri ve uygulanan ant-konjonktürel uygulamalar ele alınmıştır. Böylelikle krizlerin ortak nedenleri ve çözüm yöntemlerinin görülmesi hedeflenmiş ve bu gerçekleştirilmiştir. Anahtar Kelimeler: Büyük Buhran, OPEC Krizi, 2008 Küresel Krizi, Regülasyon, Deregülasyon. ABSTRACT: The history of economic crisis is as old as the history of the economy. There was risk of the economic crisis since the beginning of the economic activities. This risk realized three times on a global scale. The first of these was great depression that began 1929 and lasted until middle of the 1940s. Great depression broke out by effect of I. World War, the deregulation policy, investors and consumer behavior and It ended by effect of regulatory policies. Although OPEC crisis ended with regulation policies, It led to return to deregulation policies. Deregulation policy has been caused 2008 Global Economic Crisis and it is being combated against by regulation policy. In study, causes of and policies of the business cycle of three the crisis are discussed. Thus, to see is aimed common causes of crisis and

  6. 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.

  7. Price regulation in the Spanish energy sectors: who benefits?

    International Nuclear Information System (INIS)

    Arocena, Pablo; Contin, Ignacio; Huerta, Emilio

    2002-01-01

    This paper analyses the distribution of benefits between firms and consumers due to the price regulation of the Spanish energy sectors (electricity, oil fuels and gas) during the decade 1987-1997. To that effect, we compare the actual evolution of energy prices with alternate benchmarks in order to assess the potential existence of a pro-industry or a pro-consumer bias in the pricing policies followed by the regulator. Our results show a pro-industry-biased regulatory context, where consumers benefited very little from price control. The successive price adjustments over time allowed the companies to keep all the productivity gains and cost reductions and to increase their profitability rates relative to those achieved in the manufacturing sector. (Author)

  8. Price regulation in the Spanish energy sectors: who benefits?

    Energy Technology Data Exchange (ETDEWEB)

    Arocena, Pablo; Contin, Ignacio; Huerta, Emilio [Departamento de Gestion de Empresas, Universidad Publica de Navarra, Campus de Arrosadia. 31006, Pamplona (Spain); [Canterbury Business School, University of Kent Canterbury (United Kingdom)

    2002-08-01

    This paper analyses the distribution of benefits between firms and consumers due to the price regulation of the Spanish energy sectors (electricity, oil fuels and gas) during the decade 1987-1997. To that effect, we compare the actual evolution of energy prices with alternate benchmarks in order to assess the potential existence of a pro-industry or a pro-consumer bias in the pricing policies followed by the regulator. Our results show a pro-industry-biased regulatory context, where consumers benefited very little from price control. The successive price adjustments over time allowed the companies to keep all the productivity gains and cost reductions and to increase their profitability rates relative to those achieved in the manufacturing sector. (Author)

  9. 77 FR 69442 - Federal Acquisition Regulation; Information Collection; Economic Price Adjustment

    Science.gov (United States)

    2012-11-19

    ...; Information Collection; Economic Price Adjustment AGENCIES: Department of Defense (DOD), General Services... economic price adjustment. Public comments are particularly invited on: Whether this collection of..., Economic Price Adjustment by any of the following methods: Regulations.gov : http://www.regulations.gov...

  10. 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

  11. 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

  12. resel Isınmada Hayvancılığın Payı ve Zooteknist Olarak Bizim Rolümüz

    OpenAIRE

    KÖKNAROĞLU, Hayati; AKÜNAL, Turgay

    2010-01-01

    İnsan tarafından atmosfere verilen gazların sera etkisi yaratması sonucunda, dünya yüzeyinde sıcaklığın artmasına küresel ısınma denmektedir. Özellikle son 150 yılın en sıcak yaz aylarını beklediğimiz bu yıllarda küresel ısınmayı azaltacak önlemlerin alınması önem taşımaktadır. Hükümetler arası İklim Değişikliği Paneli’nin temel aldığı en gelişmiş iklim modelleri, küresel yüzey sıcaklıklarında 1990-2100 döneminde ortalama 1.4 - 5.8 °C artış olacağını ve bu artışa bağlı olarak, iklimde gözlene...

  13. Bid Regulations in a Multi-unit Uniform Price Auction

    DEFF Research Database (Denmark)

    Boom, Anette

    for larger rms does not guarantee market prices below that cap. A suffciently high bid floor only for smaller firms destroys some or all pure strategy equilibria despite their prices being above the bid floor. With a general bid floor this happens only with considerably higher bid floors.......This paper examines the effect of bid regulations on the range of potential equilibrium prices in a multi-unit uniform price auction with heterogenous bidders. General bid caps destroy equilibria with prices above the bid cap and create new equilibria with prices way below the cap. A cap only...

  14. 76 FR 35218 - Federal Acquisition Regulation; Information Collection; Cost or Pricing Data Requirements and...

    Science.gov (United States)

    2011-06-16

    ... Pricing Data, by any of the following methods: Regulations.gov : http://www.regulations.gov . Submit...; Information Collection; Cost or Pricing Data Requirements and Information Other Than Cost or Pricing Data... concerning cost or pricing data requirements and information other than cost or pricing data. Public comments...

  15. Regulated prices: for how long more?

    International Nuclear Information System (INIS)

    Pauron, M.

    2008-01-01

    Does a government has to intervene in a liberalize market? Between the purchasing power of consumers, the rise of raw materials price and the opening of markets, each announcement by the French government of an increase of the tariffs of Gaz de France (GDF: the historical French gas utility) irritates the ones and the others: the consumer considers it as another attack to its purchasing power, while the gas operators, GDF and its competitors, consider that the gas prices remain below the market prices, does not reflect the real increase of costs, and disturbs the good operation of the competitive market. This paper put the question of what must be the position of a government in a de-regulated energy market in order to implement sustainable economic measures and protect the low-income consumers. (J.S.)

  16. 77 FR 2680 - Defense Federal Acquisition Regulation Supplement; Definition of Cost or Pricing Data

    Science.gov (United States)

    2012-01-19

    ... Regulation Supplement; Definition of Cost or Pricing Data AGENCY: Defense Acquisition Regulations System... Acquisition Regulation Supplement (DFARS) to update text addressing the definition of cost or pricing data... update the DFARS for consistency with FAR changes addressing the definition of cost or pricing data...

  17. 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

  18. 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)

  19. 77 FR 15370 - General Services Administration Acquisition Regulation; Information Collection; Price Reductions...

    Science.gov (United States)

    2012-03-15

    ... Services Administration Acquisition Regulation; Information Collection; Price Reductions Clause; Extension... notice of request for comments regarding OMB Control No. 3090-0235, Price Reductions Clause, published in... 16, 2012. ADDRESSES: Submit comments identified by Information Collection 3090- 0235, Price...

  20. 1929 Ekonomik Buhranı ve 2008 Küresel Krizi’nin Türkiye Ekonomisi Üzerindeki Etkileri

    Directory of Open Access Journals (Sweden)

    Nihat IŞIK

    2012-04-01

    Full Text Available Bu çalışmada, 1929 Ekonomik Buhranı ve 2008 Küresel Krizi’nin Türkiye Ekonomisi üzerindeki etkileri seçilmiş göstergeler özelinde incelenecektir. 1929 Buhranı döneminde tarım ağırlıklı bir ekonomiye sahip olan Türkiye, buhran sonucu tarımsal ürün fiyatlarında ortaya çıkan düşüş nedeniyle ekonomisinde deflasyonist bir süreç yaşamış, ekonomide daralma ve dış ticaret hacminde önemli düşüşler meydana gelmiştir. 2008 Küresel Krizi’nin Türkiye ekonomisi üzerindeki başlıca etkileri ise; borsanın önemli ölçüde değer kaybetmesi, ekonominin ciddi şekilde daralması, işsizlik oranlarının artması, dış ticaret hacminin daralması, reel kesim ve tüketici güven endekslerinin kötüleşmesi şeklinde sıralanabilir.

  1. 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

  2. Regulation of electricity prices?

    International Nuclear Information System (INIS)

    Mihok, P.

    2006-01-01

    In this paper author deals with the regulation of electricity prices in the Slovak Republic. Author contests the social policy of the government through doped prices of electricity. Two thirds of electricity is generated in nuclear power plants in Slovakia. Hence, it is necessary to focus on the solution of problem of nuclear waste. In 2004 Ministry of Economy stated, that the deficit in nuclear fund, from which the country have to fully cover the costs of liquidation and final disposal of nuclear waste, is estimated in the amount of around 89 billion Slovak crowns (≅ 3.7 billion $). From it, so called historical deficit, which originated because of late foundation of fund, represents officially 15 billion Slovak crowns (≅ 0.62 billion $). In Slovakia exists the real risk, that by maintenance of present state by creation and draw of the fund, it will be possible to ensure only 39 per cent of financial sources necessary for full financial handling of the back part of nuclear energetic. Even though the Ministry of Economy in connection with privatisation of Slovenske elektrarne designed to decrease the transfers of operators of nuclear power plants into nuclear fund. In 2006 the Parliament decreased by the law the level of gains of the fund from sale of nuclear electricity (the second from two components of the gains of the fund) from 6.8 to 5.95 per cent from annual revenues. So the tax of forced reduction of the price of nuclear electricity will be represented by loading of the further generations

  3. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

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

    On April 1, 2005, Denmark changed the way references prices, a main determinant of reimbursements for pharmaceutical purchases, are calculated. The previous reference prices, which were based on average EU prices, were substituted to minimum domestic prices. Novel to the literature, we estimate...... the joint eects of this reform on prices and quantities. Prices decreased more than 26 percent due to the reform, which reduced patient and government expenditures by 3.0 percent and 5.6 percent, respectively, and producer revenues by 5.0 percent. The prices of expensive products decreased more than...

  4. Impact of regulated price adjustments on price variability in a very low inflation transition economy: Case of Armenia

    Directory of Open Access Journals (Sweden)

    Aghassi Mkrtchyan

    2005-06-01

    Full Text Available This paper examines the impact of monetary policy and administrative price adjustments on price variability in a low inflation economy characterized by relatively frequent administrative price adjustments. Fluctuations of market determined prices, prices of agricultural goods in particular, are linked to poor synchronization between administrative price changes and monetary policy. If monetary policy does not account for expected changes in administrative prices, demand for free goods shifts, causing fluctuation of prices for agricultural goods, because the supply of these goods is highly inelastic in Armenia. The findings contribute to a better understanding of agricultural price variability during 1998-2002. The impact of macroeconomic policy and structural adjustments on income distribution and rural poverty incidence are also examined. This research has immediate policy implications, since Armenia will continue to undergo major upward price adjustments of regulated prices, which may have a negative impact on income distribution unless aggregate demand management is changed.

  5. Evaluation of petroleum products pricing regulation in Nova Scotia : a 2 year review

    International Nuclear Information System (INIS)

    2008-11-01

    Gasoline price regulation was introduced in Nova Scotia on July 1st, 2006. This report presented the findings and recommendations of a review of the first two years of the gasoline price regulation in Nova Scotia. The regulations had three main objectives. This review examined whether, and to what extent, they were achieved. The objectives were to stabilize price, maintain industry infrastructure, and minimize cost to consumers. The report described the rationale for the regulation, study objectives, and approach taken to gasoline regulation in Nova Scotia, including the objectives and technical aspects of how regulation works. The gasoline market in Nova Scotia was examined, including the market structure and competitive behaviour in an unregulated market. The report also provided some theoretical perspectives on how regulation was likely to affect industry structure and competitive behaviour. The extent to which the regulation was meeting its objectives was then assessed and perspectives on the regulation from consumers, retailers and wholesalers were offered. Last, the report provided a review of the findings in terms of the key elements of regulatory design and set out recommendations for improving the system. It was recommended that in order to improve certainty, particularly given the regulated price differences amongst grades, the regulations should be amended to include grade specifications referencing octane ratings. tabs., figs

  6. 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

  7. Financial effects of pharmaceutical price regulation on R&D spending by EU versus US firms.

    Science.gov (United States)

    Golec, Joseph; Vernon, John A

    2010-01-01

    EU countries closely regulate pharmaceutical prices, whereas the US does not. This paper shows how price constraints affect the profitability, stock returns and R&D spending of EU and US firms. Compared with EU firms, US firms are more profitable, earn higher stock returns and spend more on R&D. We tested the relationship between price regulation and R&D spending, and estimated the costs of tight EU price regulation. Although results show that EU consumers enjoyed much lower pharmaceutical price inflation, we estimated that price controls cost EU firms 46 fewer new medicines and 1680 fewer research jobs during our 19-year sample period. Had the US used controls similar to those used in the EU, we estimate it would have led to 117 fewer new medicines and 4368 fewer research jobs in the US.

  8. 77 FR 58380 - General Services Administration Acquisition Regulation; Submission for OMB Review; Price...

    Science.gov (United States)

    2012-09-20

    ...] General Services Administration Acquisition Regulation; Submission for OMB Review; Price Reductions Clause... requirement regarding the GSAR Price Reductions Clause. A notice was published in the Federal Register at 76... identified by Information Collection 3090- 0235, Price Reduction Clause, by any of the following methods...

  9. Pricing regulations in Great Britain

    International Nuclear Information System (INIS)

    Cicoletti, G.

    1993-01-01

    This paper briefly describes the structure and functions of Great Britain's essential electric power regulatory authority institutionalized by the 1989 British Electricity Act, i.e., the Office of Electricity Regulation, OFFER, and the responsibilities and tasks of the head of OFFER -the Director General of Electricity Supply (DGES). In particular, with regard to the latter, the paper describes how the DGES works together with regional electricity commissions to ensure the respect, by the various utilities, of consumer price caps and compliance with overall quality of service standards, as well as, to oversee 'pooling' activities by producers and distributors

  10. Pricing regulations in Great Britain

    International Nuclear Information System (INIS)

    Cicoletti, G.

    1993-01-01

    This paper briefly describes the structure and functions of Great Britain's essential electric power regulatory authority institutionalized by the 1989 British Electricity Act, i.e., the Office of Electricity Regulation, OFFER, and the responsibilities and tasks of the head of OFFER - the Director General of Electricity Supply (DGES). In particular, with regard to the latter, the paper describes how the DGES works together with regional electricity commissions to ensure the respect, by the various utilities, of consumer price caps and compliance with overall quality of service standards, as well as, to oversee 'pooling' activities by producers and distributors

  11. DİJİTALLEŞME SÜRECİNDE KÜRESEL MUHASEBE MESLEĞİNİN YENİDEN ŞEKİLLENMESİNE BAKIŞ

    OpenAIRE

    TÜRKER, Masum

    2018-01-01

    İş dünyası; dijitalleşme sürecindeki yenilikler, yapay zekanın kullanılma derecesindeki artış düzeyi ve megatrendlerdeki gelişmeler ile baş edebilmek için iş yapısını ve yöntemlerini geliştiriyor.İş dünyasının gelişen yeni yapısına karşılık muhasebe mesleğinin önderleri de muhasebe mesleğinin geleceğiniküresel düzeyde şekillendirmek için düşünmek, tasarlamak ve yaratıcı olmak sorumluluğu içinde çalışmalarınıyürütüyorlar. Muhasebe mesleğinde çözüm üreten küresel liderlik; hem finansal raporlam...

  12. 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.

  13. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

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

    2014-01-01

    Reference prices constitute a main determinant of patient health care reimbursement in many countries. We study the effects of a change from an "external" (based on a basket of prices in other countries) to an "internal" (based on comparable domestic products) reference price system. We find...... that while our estimated consumer compensating variation is small, the reform led to substantial reductions in list and reference prices as well as co-payments, and to sizeable decreases in overall producer revenues, health care expenditures, and co-payments. These effects differ markedly between branded...

  14. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

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

    Reference prices constitute a main determinant of patient health care reimbursement in many countries. We study the effects of a change from an "external" (based on a basket of prices in other countries) to an "internal" (based on comparable domestic products) reference price system. We find...... that while our estimated consumer compensating variation is small, the reform led to substantial reductions in list and reference prices as well as co-payments, and to sizeable decreases in overall producer revenues, health care expenditures, and co-payments. These effects differ markedly between branded...

  15. 76 FR 57677 - Defense Federal Acquisition Regulation Supplement; Increase the Use of Fixed-Price Incentive...

    Science.gov (United States)

    2011-09-16

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

  16. 7 CFR 1124.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  17. 7 CFR 1030.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  18. Regulator preferences and utility prices: evidence from natural gas distribution utilities

    International Nuclear Information System (INIS)

    Klein, C.C.; Sweeney, G.H.

    1999-01-01

    We investigate the determinants of regulators' relative weighting of the social welfare of customer groups and utilities using panel data on natural gas distribution utilities in the US state of Tennessee. In contrast to previous empirical work on cross-sections of electric utilities, our results are statistically robust and consistent with the interest group theory of regulation. Intervention in rate cases, settlement vs. litigation of cases, and prices of alternative energy sources, as well as the size characteristics of customer groups and the firm, are significant determinants of the elasticity-weighted price-cost margin (Ramsey number) for each group. (Copyright (c) 1999 Elsevier Science B.V., Amsterdam. All rights reserved.)

  19. 48 CFR 16.203 - Fixed-price contracts with economic price adjustment.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Fixed-price contracts with economic price adjustment. 16.203 Section 16.203 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION CONTRACTING METHODS AND CONTRACT TYPES TYPES OF CONTRACTS Fixed-Price Contracts 16.203 Fixed-price...

  20. 77 FR 29982 - Federal Acquisition Regulation; Submission for OMB Review; Davis Bacon Act-Price Adjustment...

    Science.gov (United States)

    2012-05-21

    ...; Submission for OMB Review; Davis Bacon Act-Price Adjustment (Actual Method) AGENCY: Department of Defense... previously approved information collection requirement concerning the Davis-Bacon Act price adjustment... Bacon Act-Price Adjustment (Actual Method), by any of the following methods: Regulations.gov : http...

  1. 48 CFR 216.203 - Fixed-price contracts with economic price adjustment.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Fixed-price contracts with economic price adjustment. 216.203 Section 216.203 Federal Acquisition Regulations System DEFENSE... CONTRACTS Fixed-Price Contracts 216.203 Fixed-price contracts with economic price adjustment. ...

  2. 7 CFR 1033.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  3. 7 CFR 1005.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  4. 7 CFR 1001.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  5. 7 CFR 1006.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  6. 7 CFR 1126.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

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

    Science.gov (United States)

    2010-01-01

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

  8. 7 CFR 1131.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  9. 7 CFR 1007.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  10. 48 CFR 3016.203 - Fixed price contracts with economic price adjustments.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 7 2010-10-01 2010-10-01 false Fixed price contracts with economic price adjustments. 3016.203 Section 3016.203 Federal Acquisition Regulations System DEPARTMENT OF... TYPES OF CONTRACTS Fixed-Price Contracts 3016.203 Fixed price contracts with economic price adjustments. ...

  11. 7 CFR 1131.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  12. 7 CFR 1005.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  13. 7 CFR 1126.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  14. 7 CFR 1032.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  15. 7 CFR 1030.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  16. 7 CFR 1033.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  17. 7 CFR 1001.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  18. 7 CFR 1007.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  19. 7 CFR 1006.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  20. Prices regulation in price-cap: the lessons of the british gas industry; Reglementations tarifaires en price-cap: les lecons de l'industrie gaziere anglaise

    Energy Technology Data Exchange (ETDEWEB)

    David, L.

    2003-07-01

    This article examines the problem of the price-cap regulation applied to the british gas transport. The RPI-X cap is a particular form of the price cap. This cap seems to be more remunerative for the regulatory firm than a cap calculated on the Laspeyres index because it authorizes a greater freedom of prices choice, to the prejudice of the consumers. Facing these perverse effects, Cowan proposed in 1997 a new system, not more satisfying. Another equation is analyzed in this article, proposed by Ofgem. Meanwhile this system presents no improvement of the consumers surplus facing the RPI-X cap. (A.L.B.)

  1. 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...

  2. 77 FR 76939 - Defense Federal Acquisition Regulation Supplement: Definition of Cost or Pricing Data (DFARS Case...

    Science.gov (United States)

    2012-12-31

    ... cost or pricing data'' in its place. PART 217--SPECIAL CONTRACTING METHODS 217.7401 [Amended] 0 11... Cost or Pricing Data (DFARS Case 2011-D040) AGENCY: Defense Acquisition Regulations System, Department... ``certified cost or pricing data'' and ``data other than certified cost or pricing data.'' The DFARS changes...

  3. 7 CFR 1124.53 - Announcement of class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Announcement of class prices, component prices, and advanced pricing factors. 1124.53 Section 1124.53 Agriculture Regulations of the Department of Agriculture... Announcement of class prices, component prices, and advanced pricing factors. See § 1000.53. ...

  4. An emissions trading scheme design for power industries facing price regulation

    International Nuclear Information System (INIS)

    Kim, Yong-Gun; Lim, Jong-Soo

    2014-01-01

    The electricity market, monopolistic in nature, with government price regulation, poses a serious challenge for policy makers with respect to the cost-effectiveness of emissions trading, particularly in Asian countries. This paper argues that a cap-and-trade regulatory system for indirect emissions combined with a rate-based allocation system for direct emissions can achieve market efficiency even in the presence of price and quantity controls in the electricity market. This particular policy mix could provide appropriate incentives for industries to reduce their electricity consumption while inducing power producers to reduce their direct carbon emissions cost-effectively in conditions where there is strict government control of electricity prices. Another advantage of the suggested policy mix is that it allows carbon leakage in cross-border power trades to be effectively eliminated. - Highlights: • A rate-based allocation induces power producers to minimize direct emissions. • A cap-and-trade on indirect emission induces firms to reduce electricity consumption. • These two can jointly achieve market efficiency even in the regulated power market

  5. Assessing the impacts of Saskatchewan's minimum alcohol pricing regulations on alcohol-related crime.

    Science.gov (United States)

    Stockwell, Tim; Zhao, Jinhui; Sherk, Adam; Callaghan, Russell C; Macdonald, Scott; Gatley, Jodi

    2017-07-01

    Saskatchewan's introduction in April 2010 of minimum prices graded by alcohol strength led to an average minimum price increase of 9.1% per Canadian standard drink (=13.45 g ethanol). This increase was shown to be associated with reduced consumption and switching to lower alcohol content beverages. Police also informally reported marked reductions in night-time alcohol-related crime. This study aims to assess the impacts of changes to Saskatchewan's minimum alcohol-pricing regulations between 2008 and 2012 on selected crime events often related to alcohol use. Data were obtained from Canada's Uniform Crime Reporting Survey. Auto-regressive integrated moving average time series models were used to test immediate and lagged associations between minimum price increases and rates of night-time and police identified alcohol-related crimes. Controls were included for simultaneous crime rates in the neighbouring province of Alberta, economic variables, linear trend, seasonality and autoregressive and/or moving-average effects. The introduction of increased minimum-alcohol prices was associated with an abrupt decrease in night-time alcohol-related traffic offences for men (-8.0%, P prices may contribute to reductions in alcohol-related traffic-related and violent crimes perpetrated by men. Observed lagged effects for violent incidents may be due to a delay in bars passing on increased prices to their customers, perhaps because of inventory stockpiling. [Stockwell T, Zhao J, Sherk A, Callaghan RC, Macdonald S, Gatley J. Assessing the impacts of Saskatchewan's minimum alcohol pricing regulations on alcohol-related crime. Drug Alcohol Rev 2017;36:492-501]. © 2016 Australasian Professional Society on Alcohol and other Drugs.

  6. 48 CFR 16.205 - Fixed-price contracts with prospective price redetermination.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Fixed-price contracts with prospective price redetermination. 16.205 Section 16.205 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION CONTRACTING METHODS AND CONTRACT TYPES TYPES OF CONTRACTS Fixed-Price Contracts 16.205...

  7. resel Ekonomik Kriz Türkiye İşgücü Piyasasında Cinsiyet Eşitsizliğini Derinleştirdi mi?

    OpenAIRE

    ÇETİNKAYA, Emel; YILDIRIMALP, Sinem

    2013-01-01

    İşgücü piyasalarında cinsiyet eşitsizliği, tüm dünyada olduğu gibi Türkiye işgücü piyasasında da önemli bir sorun olarak karşımıza çıkmaktadır. Zaman zaman yaşanan krizler işgücü piyasalarını ve özellikle kadın işgücünü olumsuz yönde etkilemektedir. 2007 yılında ABD’de başlayan küresel ekonomik kriz tüm ülke ekonomileri gibi Türkiye ekonomisini ve işgücü piyasalarını da 2008 yılının özellikle ikinci yarısından itibaren ciddi bir şekilde etkilemeye başlamıştır. Bu çalışma, küresel ekonomik kri...

  8. 48 CFR 5416.203 - Fixed-price contracts with economic price adjustment.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 7 2010-10-01 2010-10-01 false Fixed-price contracts with economic price adjustment. 5416.203 Section 5416.203 Federal Acquisition Regulations System DEFENSE LOGISTICS AGENCY, DEPARTMENT OF DEFENSE TYPES OF CONTRACTS Fixed Price Contracts 5416.203 Fixed-price...

  9. 75 FR 13422 - Federal Acquisition Regulation; FAR Case 2008-015, Payments Under Fixed-Price Architect-Engineer...

    Science.gov (United States)

    2010-03-19

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

  10. The economic impact of carbon pricing with regulated electricity prices in China—An application of a computable general equilibrium approach

    International Nuclear Information System (INIS)

    Li, Ji Feng; Wang, Xin; Zhang, Ya Xiong; Kou, Qin

    2014-01-01

    We use a dynamic CGE model (SICGE) to assess the economic and climate impacts of emissions trading system (ETS) in China with a carbon price of 100 Yuan/ton CO2. A particular focus is given to the regulated electricity price regime, which is a major concern of electricity sector’s cost-effective participation in ETS in China. We found: (1) Carbon pricing is an effective policy for China to reduce CO 2 emissions. Total CO 2 emissions reduction ranges from 6.8% to 11.2% in short-term. (2) Rigid electricity price entails lower CO 2 emissions reduction but can be considered as a feasible starting point to introduce carbon pricing policies in short-term as long as governmental subsidies are given to electricity production. (3) In mid- and long-term, the efficient policy is to earmark carbon revenue with competitive electricity price. We propose to use carbon revenue to reduce consumption tax in the first year of the introduction of carbon price and to use the carbon revenue to reduce production tax in following years. - Highlights: • We use a CGE model to assess the impacts of carbon pricing in China. • We test different scenarios of carbon cost pass-through in electricity price. • Carbon pricing policy cost-efficiency is examined with double-dividend hypothesis

  11. Not So Fast: How Slower Utilities Regulation Can Reduce Prices and Increase Profits

    Directory of Open Access Journals (Sweden)

    G. Kent Fellows

    2013-05-01

    Full Text Available Energy consumers are facing cost pressures from multiple directions. Wholesale natural gas prices have been climbing substantially from their record lows. Oil prices have only recently cooled slightly after reaching nearly $100 a barrel (WTI earlier this year. That makes it that much more important to minimize costs to wholesale consumers of energy, and ultimately, retail buyers, wherever possible. There is little room in the energy network for unnecessary costs. But in a regulated system, profits for utilities must remain healthy, too, if we expect them to stay active in the market. But the way that government agencies regulate oil and gas pipelines in Canada, and elsewhere, appears to be increasing costs beyond where they need to be in order to fairly serve both utilities and customers. By relying on traditional rate-of-return regulation models — which calculate price-rates based on the regulated firm’s cost of capital (that is, how much it costs the company to finance its operations — regulators, including the National Energy Board and the Alberta Utilities Commission, reward firms for over-investing in their operations, rather than reducing costs. Utilities are motivated to prolong the period in which they can earn a return on their capital, since it is one of the few opportunities they have to increase profits under the widely used rateof-return regulatory model. That results in utilities keeping assets on the books — and paying for them — longer than they might otherwise need to be. The end result is a distortion of the decisions made by regulated firms and higher prices for consumers than might occur under a different regulatory model. Regulators that take a more passive role in setting the rate of return for their client industries, however, are likely to see their idleness pay off. Firms with a freer hand to do so will seek to accelerate the depreciation of capital assets, reducing costs more quickly. The result may see end

  12. An overview of alternative fossil fuel price and carbon regulation scenarios

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, Ryan; Bolinger, Mark

    2004-10-01

    ) current oil prices, (3) externally generated oil price forecasts, and (4) the historical difficulty in accurately forecasting oil prices. Overall, a spread between the FE-EERE High Oil Price and Reference scenarios of well over $8/bbl is supported by the literature. We conclude that a wide range of carbon regulation scenarios are possible, especially within the time frame considered by EERE and FE (through 2050). The Working Group's Carbon Cap-and-Trade Scenario is found to be less aggressive than many Kyoto-style targets that have been analyzed, and similar in magnitude to the proposed Climate Stewardship Act. The proposed scenario is more aggressive than some other scenarios found in the literature, however, and ignores carbon banking and offsets and does not allow nuclear power to expand. We are therefore somewhat concerned that the stringency of the proposed carbon regulation scenario in the 2010 to 2025 period will lead to a particularly high estimated cost of carbon reduction. As described in more detail later, we encourage some flexibility in the Working Group's ultimate implementation of the Carbon Cap-and-Trade Scenario. We conclude by identifying additional scenarios that might be considered in future analyses, describing a concern with the proposed specification of the High Fuel Price Scenario, and highlighting the possible difficulty of implementing extreme scenarios with current energy modeling tools.

  13. 48 CFR 46.707 - Pricing aspects of fixed-price incentive contract warranties.

    Science.gov (United States)

    2010-10-01

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

  14. Financial Flexibility in Highly Regulated Market: Indonesian Telecommunication Case during Tariff Pricing War

    Directory of Open Access Journals (Sweden)

    Y. Arief Rijanto

    2016-07-01

    Full Text Available In year 2008, regulation of Indonesian telecommunicationindustries changes due the tariff pricing war within Telecommunication operator. This regulation tie up the telecommunication operator and affect operating revenue margin.The needs of financial flexibility within tele communication firm is increased.Capex, operating revenue and reinvestment needs to be flexible must be inline with competition and change of technology. This paper goals is measuring financial flexibility based on Capex, operating revenue and re-investment needs.Re-investment needs by Telecommunication operator can be financed with or without financial flexibility. Data from year 2007 up to 2014 is selected to accommodate before and after changes of telecommunication regulation. The regulation effect to financial flexibility of telecommunication firm is still relevantbecause telecommunication industries by nature needs larger capital to re-new the telecommunication technology. Real options method will be used to measure financial flexibility.Keywords: Financial flexibility, Price war, Telecommunication Regulation, Real Option

  15. Weighted Average Cost of Retail Gas (WACORG) highlights pricing effects in the US gas value chain: Do we need wellhead price-floor regulation to bail out the unconventional gas industry?

    International Nuclear Information System (INIS)

    Weijermars, Ruud

    2011-01-01

    The total annual revenue stream in the US natural gas value chain over the past decade is analyzed. Growth of total revenues has been driven by higher wellhead prices, which peaked in 2008. The emergence of the unconventional gas business was made possible in part by the pre-recessional rise in global energy prices. The general rise in natural gas prices between 1998 and 2008 did not lower overall US gas consumption, but shifts have occurred during the past decade in the consumption levels of individual consumer groups. Industry's gas consumption has decreased, while power stations increased their gas consumption. Commercial and residential consumers maintained flat gas consumption patterns. This study introduces the Weighted Average Cost of Retail Gas (WACORG) as a tool to calculate and monitor an average retail price based on the different natural gas prices charged to the traditional consumer groups. The WACORG also provides insight in wellhead revenues and may be used as an instrument for calibrating retail prices in support of wellhead price-floor regulation. Such price-floor regulation is advocated here as a possible mitigation measure against excessive volatility in US wellhead gas prices to improve the security of gas supply. - Highlights: → This study introduces an average retail price, WACORG. → WACORG can monitor price differentials for the traditional US gas consumer groups. → WACORG also provides insight in US wellhead revenues. → WACORG can calibrate retail prices in support of wellhead price-floor regulation. → Gas price-floor can improve security of gas supply by reducing price volatility.

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

    Science.gov (United States)

    2010-01-01

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

  17. 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

  18. 48 CFR 36.207 - Pricing fixed-price construction contracts.

    Science.gov (United States)

    2010-10-01

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

  19. Price cap regulation: the case of natural gas transport in the UK; La reglementation par price cap: le cas du transport de gaz naturel au Royaume Uni

    Energy Technology Data Exchange (ETDEWEB)

    David, L. [ATER, Paris-1 Univ., 75 (France)

    1999-09-01

    The transport and storage activities of British Gas company are controlled by a distinct organization named Transco. The access charges paid by the suppliers for the use of Transco's network are regulated by a price cap since October 1, 1994. However, Ofgas, the office of gas supply which is the regulation authority in charge of the control of competition and of British Gas activities, considers this control system as inefficient and has chosen a RPI (retail price index)-X (expected productivity factor)-type price cap for the control of gas transport tariffs. This has led to a disagreement between Transco and Ofgas which has delayed the implementation of the new system up to February 1998. This article compares the choices made by Ofgas for the control of gas transport tariffs with the economical theory. It recalls first, the reasons why the price cap appears as more efficient than the service cost regulation, the alternate method used by regulation authorities to control the tariffs of natural monopolies. Then, the difficulties linked with the implementation of the price cap for the transport of natural gas in the UK are analyzed in order to explain the reasons that led Ofgas to change its formula. Finally, the bases of an optimum hybrid formula are proposed. (J.S.)

  20. Regional differences in electricity distribution costs and their consequences for yardstick regulation of access prices

    International Nuclear Information System (INIS)

    Filippini, M.; Wild, J.

    2001-01-01

    In this paper we estimate an average-cost function for a panel of 59 Swiss local and regional electricity distribution utilities as a basis for yardstick regulation of the distribution-network access prices. Shleifer (1985) proposed yardstick competition in terms of price to regulate local monopolies producing a homogeneous good. The regulated price for the individual firms depends on the average costs of identical firms. The yardstick competition concept can also be applied to firms that produce heterogeneous goods if these goods differ only in observable characteristics. To correct the yardstick for heterogeneity the regulator can use a multivariate estimation of an average-cost function. In the case of electricity distribution, the heterogeneity of output consists mainly of different characteristics of the distribution service areas. In this paper we follow Shleifer's suggestion to estimate a multivariate average-cost function that can be employed by the regulatory commission to benchmark network access prices at the distribution level. Several exogenous variables measuring the heterogeneity of the service areas were included in the cost model specification. We find that the regional differences of the service areas - e.g. area shares of forests, agricultural areas or unproductive land and population density - significantly influence electricity distribution costs

  1. Research on Double Price Regulations and Peak Shaving Reserve Mechanism in Coal-Electricity Supply Chain

    Directory of Open Access Journals (Sweden)

    Hongjun Peng

    2013-01-01

    Full Text Available The game models were used to study the mechanism of coal-electricity price conflict under conditions of double price regulations of coal and electricity. Based on this, the peak shaving reserve mechanism was designed to probe into the countermeasures against the coal-electricity price conflicts. The study revealed that in the boom seasons of coal demand, the initiatives of the coal enterprises to supply thermal coal and the electricity enterprises to order thermal coal are reduced under conditions of double price regulations. However, under the circumstances of coal price marketization, in the boom seasons of coal demand the thermal coal price may go up obviously, the initiatives of the coal enterprises to supply thermal coal are increased, and meanwhile the initiatives of the power enterprises to order thermal coal are decreased dramatically. The transportation capacity constraint of coal supply leads to the evident decrease of the initiatives of coal enterprises for the thermal coal supply. The mechanism of peak shaving reserve of thermal coal may not only reduce the price of coal market but also increase the enthusiasm of the power enterprises to order more thermal coal and the initiatives of the coal enterprises to supply more thermal coal.

  2. Retrading, production, and asset market performance.

    Science.gov (United States)

    Gjerstad, Steven D; Porter, David; Smith, Vernon L; Winn, Abel

    2015-11-24

    Prior studies have shown that traders quickly converge to the price-quantity equilibrium in markets for goods that are immediately consumed, but they produce speculative price bubbles in resalable asset markets. We present a stock-flow model of durable assets in which the existing stock of assets is subject to depreciation and producers may produce additional units of the asset. In our laboratory experiments inexperienced consumers who can resell their units disregard the consumption value of the assets and compete vigorously with producers, depressing prices and production. Consumers who have first participated in experiments without resale learn to heed their consumption values and, when they are given the option to resell, trade at equilibrium prices. Reproducibility is therefore the most natural and most effective treatment for suppression of bubbles in asset market experiments.

  3. 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

  4. 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.

  5. 48 CFR 1416.203 - Fixed-price contracts with economic price adjustment.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Fixed-price contracts with economic price adjustment. 1416.203 Section 1416.203 Federal Acquisition Regulations System DEPARTMENT OF THE INTERIOR CONTRACTING METHODS AND CONTRACT TYPES TYPES OF CONTRACTS Fixed-Price Contracts 1416.203...

  6. 48 CFR 916.203 - Fixed-price contracts with economic price adjustments.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Fixed-price contracts with economic price adjustments. 916.203 Section 916.203 Federal Acquisition Regulations System DEPARTMENT OF ENERGY CONTRACTING METHODS AND CONTRACT TYPES TYPES OF CONTRACTS Fixed-Price Contracts 916.203 Fixed...

  7. 48 CFR 1216.203 - Fixed-price contracts with economic price adjustment.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Fixed-price contracts with economic price adjustment. 1216.203 Section 1216.203 Federal Acquisition Regulations System DEPARTMENT OF TRANSPORTATION CONTRACTING METHODS AND CONTRACT TYPES TYPES OF CONTRACTS Fixed-Price Contracts 1216.203 Fixed...

  8. 48 CFR 416.203 - Fixed-price contracts with economic price adjustment.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Fixed-price contracts with economic price adjustment. 416.203 Section 416.203 Federal Acquisition Regulations System DEPARTMENT OF AGRICULTURE CONTRACTING METHODS AND CONTRACT TYPES TYPES OF CONTRACTS Fixed-Price Contracts 416.203 Fixed...

  9. 48 CFR 616.203 - Fixed-Price contracts with economic price adjustment.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Fixed-Price contracts with economic price adjustment. 616.203 Section 616.203 Federal Acquisition Regulations System DEPARTMENT OF STATE CONTRACTING METHODS AND CONTRACT TYPES TYPES OF CONTRACTS Fixed-Price Contracts 616.203 Fixed...

  10. 48 CFR 1316.203 - Fixed-price contracts with economic price adjustment.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Fixed-price contracts with economic price adjustment. 1316.203 Section 1316.203 Federal Acquisition Regulations System DEPARTMENT OF COMMERCE CONTRACTING METHODS AND CONTRACT TYPES TYPES OF CONTRACTS Fixed-Price Contracts 1316.203 Fixed...

  11. Cost of Capital in Price-regulated Companies: the Case of Estonia

    Directory of Open Access Journals (Sweden)

    Priit Sander

    2013-01-01

    Full Text Available In case of price-regulated companies it is the role of appropriate government agencies to introduce clear, internally consistent, theoretically sound, and unambiguous methodology for finding the regulative cost of capital. The aim of the paper is to describe and analyze the cost of capital estimation methodology for regulated companies in Estonia and discuss some issues arising in applying this methodology. The current paper focuses on two topical issues associated with the estimation of regulative cost of capital in Estonia: estimation of market risk premium and inclusion of currency risk premium into the cost of capital. Current turmoil in financial markets has increased investors’ risk aversion as well as level of risks.

  12. Research on Protection System of Subscribers' Rights and Interests from Mobile Resellers%移动转售商用户权益保护体系研究

    Institute of Scientific and Technical Information of China (English)

    杨德琛

    2016-01-01

    Since the ifrst batch of a total of 11 domestic mobile resale licenses were issued in the end of December, 2013, mobile resale market of our country has presented the trend of accelerated growth, with mobile resale business user scale reached about 20 million by early 2016. In the coming future, subscribers' rights protection is bound to cause concern. Firstly, this paper summarized experience of foreign mobile reseller regulators, followed by analysis of the requirements of the Mobile Telecommunication Resale Service Pilot Project and the current telecommunication service supervision organization system. Finally, from the perspective of the industry management department, mobile resellers, infrastructure operators, and users, the paper proposed strategy recommendations.%自2013年12月底国内第1批共计11家移动转售牌照发放以来,我国移动转售市场规模呈现加速增长趋势,截至2016年初移动转售业务用户规模已达到约2000万,未来用户权益保护势必引起关注。首先总结国际移动转售商监管机构用户权益保护经验,其次分析《移动通信转售业务试点方案》对用户权益保护的要求和当前电信服务监管组织体系,最后从行业管理部门、移动转售商、基础运营商及用户四个角度,提出移动转售用户权益保护策略建议。

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

    Directory of Open Access Journals (Sweden)

    Jelena Zorić

    2010-06-01

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

  14. 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...

  15. Gas prices and price process

    International Nuclear Information System (INIS)

    Groenewegen, G.G.

    1992-01-01

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

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

    Science.gov (United States)

    Houde, Jean-Francois

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

  17. Oil price volatility, financial regulation and energy policy

    International Nuclear Information System (INIS)

    Chevalier, J.M.

    2010-01-01

    In October of 2009, the French Ministry of Economy asked the author to chair a work group on oil price volatility. The report resulting from that work was submitted to the minister on February 9, 2010. Based on the report, this article focuses on three major elements: (i) the operation of the oil market, with interacting physical basics and financial basics (ii) financial market regulation, more specifically commodities-derived product markets and current work in that area and (iii) the lessons one can draw from that exercise in terms of energy policy. Significant projects have been initiated on global, European and national levels. (author)

  18. 7 CFR 1124.54 - Equivalent price.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Equivalent price. 1124.54 Section 1124.54 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Regulating Handling Class Prices § 1124.54 Equivalent price. See § 1000.54. Producer Price Differential ...

  19. 48 CFR 570.110 - Cost or pricing data and information other than cost or pricing data.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Cost or pricing data and information other than cost or pricing data. 570.110 Section 570.110 Federal Acquisition Regulations System... PROPERTY General 570.110 Cost or pricing data and information other than cost or pricing data. (a) The...

  20. Pricing and Trust

    DEFF Research Database (Denmark)

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

    -competitive (monopolistic) markets. We then introduce a regulated intermediate price above the oligopoly price and below the monopoly price. The effect in monopolies is more or less in line with standard intuition. As price falls volume increases and so does quality, such that overall efficiency is raised by 50%. However......We experimentally examine the effects of flexible and fixed prices in markets for experience goods in which demand is driven by trust. With flexible prices, we observe low prices and high quality in competitive (oligopolistic) markets, and high prices coupled with low quality in non...

  1. The effects of average revenue regulation on electricity transmission investment and pricing

    International Nuclear Information System (INIS)

    Matsukawa, Isamu

    2008-01-01

    This paper investigates the long-run effects of average revenue regulation on an electricity transmission monopolist who applies a two-part tariff comprising a variable congestion price and a non-negative fixed access fee. A binding constraint on the monopolist's expected average revenue lowers the access fee, promotes transmission investment, and improves consumer surplus. In a case of any linear or log-linear electricity demand function with a positive probability that no congestion occurs, average revenue regulation is allocatively more efficient than a Coasian two-part tariff if the level of capacity under average revenue regulation is higher than that under a Coasian two-part tariff. (author)

  2. Marketplace pricing

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

    As discussed in this chapter, interest in marketplace pricing has been increasing in recent years, reflecting the societal trend toward substituting competition for regulation where appropriate. Competition is valuable because it encourages utilities to make efficient decisions with a minimum of regulatory intervention. It enhances efficiency through the incentive for innovation by the regulated companies and by increasing the likelihood they will come forward with proposals for better services, lower prices or both. Ultimately, consumers are beneficiaries. Marketplace pricing is emblematic of the view that the degree of regulation should reflect the degree of market power, that workably competitive markets should be allowed to operate with as little regulatory interference as possible. The Edison Electric Institute has made perhaps the most detailed proposal on marketplace pricing. It and others perceive numerous benefits from this method of pricing transmission services. Given the undeniable market power resulting from line ownership, FERC has emphasized the need to find a workably competitive market before approving such proposals. The ability to make this distinction without a full-blown antitrust review for every transaction is questionable, and FERC has yet to provide generic guidance. Finally, FERC's legal ability to depart from cost-based standards is questionable

  3. 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)

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

    Science.gov (United States)

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

    2014-06-01

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

  5. Strategy for polymetallic nodule mining

    Digital Repository Service at National Institute of Oceanography (India)

    Sharma, R.

    in industrializing their economies. Of the known mineral reselVcs these countries have nearly 50% of the nickel resclVcs, over 50% ofcopper reselVcs, 75% ofcobalt reserves, and aboul 25% of manganese reserves, and are major suppliers to the world markets... of these minerals. These counlries face the comhined effect oflosl markets and reduced price levels broughlabout by deep seabed nodule production. They depend on revenue earned from mineral exports more than do developed nations and have less flexibility...

  6. ERZURUM'DA SEBZE OLARAK DEĞERLENDİRİLEN YÖRESEL BAZI BİTKİLER / LOCAL VVILD PLANTS USED AS VEGETABLE IN ERZURUM

    OpenAIRE

    Güvenç, İsmail; Kaya, Yusuf

    2010-01-01

    ÖZET 1 Bu çalışma, Erzurum vejetasyonunda doğal olarak yetişen ve sebze olarak kullanılan yöreselbitkileri belirlemek amacıyla gerçekleştirildi. Yöreden toplanan bitki örneklerinin tamtum teşhis edildi. Sebzeolarak değerlendirilen bu bitkilerin yöresel adları bağa yaprağı (Plantago majör), ısırgan (Urtica dioica), (Sinapis arvensis), kuzu kulağı (Rumex acetocella), çaşır (Prangos uechritzii), çir...

  7. 48 CFR 217.7404-2 - Price ceiling.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Price ceiling. 217.7404-2 Section 217.7404-2 Federal Acquisition Regulations System DEFENSE ACQUISITION REGULATIONS SYSTEM... Contract Actions 217.7404-2 Price ceiling. UCAs shall include a not-to-exceed price. ...

  8. 48 CFR 239.7406 - Cost or pricing data and information other than cost or pricing data.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Cost or pricing data and information other than cost or pricing data. 239.7406 Section 239.7406 Federal Acquisition Regulations System... ACQUISITION OF INFORMATION TECHNOLOGY Telecommunications Services 239.7406 Cost or pricing data and...

  9. 48 CFR 52.215-10 - Price Reduction for Defective Certified Cost or Pricing Data.

    Science.gov (United States)

    2010-10-01

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

  10. Retail Price Model

    Science.gov (United States)

    The Retail Price Model is a tool to estimate the average retail electricity prices - under both competitive and regulated market structures - using power sector projections and assumptions from the Energy Information Administration.

  11. Payback Period for Emissions Abatement Alternatives: Role of Regulation and Fuel Prices

    DEFF Research Database (Denmark)

    Zis, Thalis; Angeloudis, Panagiotis; Bell, Michael G. H.

    2016-01-01

    As of January 2015, the new maximum limit of fuel sulfur content for ships sailing within emission control areas has been reduced to 0.1%. A critical decision for ship owners in advance of the new limits was the selection of an abatement method that complies with the regulations. Two main options...... exist: investing in scrubber systems that remove sulfur dioxide emissions from the exhaust and switching to low-sulfur fuel when sailing in regulated waters. The first option would involve significant capital costs, while the latter would lead to operating cost increases because of the higher price...

  12. 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

  13. A Possible Solution for the U.S. Navy’s Addiction to Petroleum: A Business Case Analysis for Transitioning the U.S. Navy From Petroleum to Synthetic Fuel Resources

    Science.gov (United States)

    2007-03-01

    was calculated using 60 sequential ( ) ’Y t s . 9 As shown by the shaded boxes in Table 2, the price of crude oil was more volatile than the price of...producing liquid fuels alone. [Bajura] Modern plant designs often include a cogeneration lineup that is designed to resell excess electricity to the

  14. 48 CFR 3.103 - Independent pricing.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Independent pricing. 3.103 Section 3.103 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION GENERAL IMPROPER BUSINESS PRACTICES AND PERSONAL CONFLICTS OF INTEREST Safeguards 3.103 Independent pricing. ...

  15. Migration of Price Discovery With Constrained Futures Markets

    OpenAIRE

    Anthony D. Hall; Paul Kofman; Steve Manaster

    2001-01-01

    This paper investigates the information content of futures option prices when the futures price is regulated while the futures option price itself is not. The New York Board of Trade provides the empirical setting for this type of dichotomy in regulation. Most commodity derivatives markets regulate prices of all derivatives on a particular commodity simultaneously. NYBOT has taken an almost unique position by imposing daily price limits on their futures contracts while leaving the options pri...

  16. 48 CFR 970.1504 - Contract pricing.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Contract pricing. 970.1504 Section 970.1504 Federal Acquisition Regulations System DEPARTMENT OF ENERGY AGENCY SUPPLEMENTARY REGULATIONS DOE MANAGEMENT AND OPERATING CONTRACTS Contracting by Negotiation 970.1504 Contract pricing. ...

  17. 48 CFR 16.202 - Firm-fixed-price contracts.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Firm-fixed-price contracts. 16.202 Section 16.202 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION CONTRACTING METHODS AND CONTRACT TYPES TYPES OF CONTRACTS Fixed-Price Contracts 16.202 Firm-fixed-price...

  18. ERZURUM'DA SEBZE OLARAK DEĞERLENDİRİLEN YÖRESEL BAZI BİTKİLER / LOCAL VVILD PLANTS USED AS VEGETABLE IN ERZURUM

    OpenAIRE

    Güvenç, İsmail; Kaya, Yusuf

    2011-01-01

    ÖZET 1 Bu çalışma, Erzurum vejetasyonunda doğal olarak yetişen ve sebze olarak kullanılan yöreselbitkileri belirlemek amacıyla gerçekleştirildi. Yöreden toplanan bitki örneklerinin tamtum teşhis edildi. Sebzeolarak değerlendirilen bu bitkilerin yöresel adları bağa yaprağı (Plantago majör), ısırgan (Urtica dioica), (Sinapis arvensis), kuzu kulağı (Rumex acetocella), çaşır (Prangos uechritzii), çiriş (Asphodelus ramosus), (Rheum ribes), ...

  19. Tarih Derslerinin Küresel Vatandaşlık Eğitimindeki Yeri: Öğretmen Görüşleri The Place of History Lessons in Global Citizenship Education: The Views of The Teacher

    Directory of Open Access Journals (Sweden)

    Celal MUTLUER

    2013-03-01

    Full Text Available When historical development of history teaching is analyzed, it isseen that one of the reasons for the emergence of this field is to traingood citizens. In a period of gobal developments, the definition oftraditional citizenship is not enough. Instead, a new concept of globalcitizenship has come up. The global citizen is the responsible citizen ofboth his own country and the global world. Changes in the world havenecessitated the individuals to be trained as more active, responsible,democratic and being aware of the world and the geography in whichthey live. The global developments happened in the world necessitatesto raise citizens who can seize the distinctnesses and who can look theevents from the other’s point of view. It should be learned to thestudents that each of them is a citizen of the world. In this context, thestudents should analyse the events from a different perspective ratherthan looking from the same perspective.The purpose of this study is to show the views of historyteachers who works at high schools in İzmir about the place of historylessons in global citizenship education. As a means of data collection, aquestionnaire consisting of open-ended questions has been applied andten history teachers have participated in the survey. Open-endedquestions are analyzed and divided into categories. In the light of thedata obtained it is understood that history teachers do not havesufficient information about global citizenship education. Tarih öğretiminin tarihsel gelişimi incelendiğinde, bu alanınortaya çıkış gerekçelerinden birisinin iyi vatandaş yetiştirmek olduğugörülür. Küresel gelişmelerin yaşandığı bir dönemde gelenekselvatandaşlık tanımı yeterli değildir. Onun yerine yeni bir kavram olanküresel vatandaşlık gündeme gelmiştir. Küresel vatandaş sadece kendiülkesinin değil evrensel dünyanın sorumlu vatandaşıdır. Dünyada yaşanan değişimler, daha aktif, yaşadığı coğrafyanın ve d

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

    International Nuclear Information System (INIS)

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

    2001-01-01

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

  1. House prices and land regulation in the Copenhagen area

    DEFF Research Database (Denmark)

    Skak, Morten; Lauridsen, Jørgen Trankjær; Nannerup, Niels Erik Holm

    2013-01-01

    We analyse house prices from 1992 to 2011 in the metropolitan area of Copenhagen. In line with most other metropolitan areas in Europe, Copenhagen house prices showed solid increases during this period until 2007 when a downturn in prices began. The price gradient from the centre of the metropolis...

  2. 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

  3. Understanding gasoline pricing in Canada

    International Nuclear Information System (INIS)

    2001-04-01

    This brochure is designed to help consumers understand how gasoline is priced and explained why prices increase, fluctuate and vary by location, city or region. The price of a litre of gasoline reflects the costs of crude oil, refining, retailing and taxes. Taxes are usually the largest single component of gasoline prices, averaging 40 to 50 per cent of the pump price. The cost of crude oil makes up another 35 to 45 per cent of the price. Refining costs make up 10 to 15 per cent while the remaining 5 to 10 per cent represents retail costs. Gasoline retailers make a profit of about 1 cent per litre. The latest network technology allows national and regional retail chains to constantly monitor price fluctuations to change their prices at gasoline stations at a moments notice to keep up with the competition and to protect their market shares. Several government studies, plus the Conference Board of Canada, have reported that competition is working in favour of Canadian motorists. This brochure also explained the drawbacks of regulating crude and pump prices with the reminder that crude prices were regulated in the 1970s with many negative consequences. 2 tabs., 1 fig

  4. The Effects of Average Revenue Regulation on Electricity Transmission Investment and Pricing

    OpenAIRE

    Isamu Matsukawa

    2005-01-01

    This paper investigates the long-run effects of average revenue regulation on an electricity transmission monopolist who applies a two- part tariff comprising a variable congestion price and a non-negative fixed access fee. A binding constraint on the monopolist fs expected average revenue lowers the access fee, promotes transmission investment, and improves consumer surplus. In a case of any linear or log-linear electricity demand function with a positive probability that no congestion occur...

  5. 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

  6. 48 CFR 970.1504-1 - Price analysis.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Price analysis. 970.1504-1 Section 970.1504-1 Federal Acquisition Regulations System DEPARTMENT OF ENERGY AGENCY SUPPLEMENTARY REGULATIONS DOE MANAGEMENT AND OPERATING CONTRACTS Contracting by Negotiation 970.1504-1 Price analysis. ...

  7. 7 CFR 1005.54 - Equivalent price.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Equivalent price. 1005.54 Section 1005.54 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Handling Class Prices § 1005.54 Equivalent price. See § 1000.54. Uniform Prices ...

  8. 7 CFR 1126.54 - Equivalent price.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Equivalent price. 1126.54 Section 1126.54 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Handling Class Prices § 1126.54 Equivalent price. See § 1000.54. Producer Price Differential ...

  9. 7 CFR 1001.54 - Equivalent price.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Equivalent price. 1001.54 Section 1001.54 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Handling Class Prices § 1001.54 Equivalent price. See § 1000.54. Producer Price Differential ...

  10. 7 CFR 1032.54 - Equivalent price.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Equivalent price. 1032.54 Section 1032.54 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Handling Class Prices § 1032.54 Equivalent price. See § 1000.54. Producer Price Differential ...

  11. 7 CFR 1033.54 - Equivalent price.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Equivalent price. 1033.54 Section 1033.54 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Handling Class Prices § 1033.54 Equivalent price. See § 1000.54. Producer Price Differential ...

  12. 7 CFR 1131.54 - Equivalent price.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Equivalent price. 1131.54 Section 1131.54 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Handling Class Prices § 1131.54 Equivalent price. See § 1000.54. Uniform Prices ...

  13. 7 CFR 1006.54 - Equivalent price.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Equivalent price. 1006.54 Section 1006.54 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Handling Class Prices § 1006.54 Equivalent price. See § 1000.54. Uniform Prices ...

  14. 7 CFR 1007.54 - Equivalent price.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Equivalent price. 1007.54 Section 1007.54 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Handling Class Prices § 1007.54 Equivalent price. See § 1000.54. Uniform Prices ...

  15. Electricity prices differences between France and Germany

    International Nuclear Information System (INIS)

    Hensing, I.; Nolden, A.; Riechmann, Ch.; Schulz, W.

    1998-01-01

    High electricity prices in Germany especially as compared to France have played an important role in the electricity liberalization debate in Germany. The price differences can largely be explained by cost differences in electricity generation, the electricity grids, personnel cost and local taxes. Further analysis suggests that efficiency improvements upon market liberalization will only partly remove these price and cost differentials. Parts of the cost differentials are attributable to politically-motivated regulations and the (future) regulation of network functions. This implies that Germany can only expect to arrive at internationally comparable electricity prices if it advances with a reform of political and monopoly regulations alongside liberalizing electricity generation and trade. (author)

  16. Ni VE Cu İLE ALAŞIMLANDIRILMIŞ KÜRESEL GRAFİTLİDÖKME DEMİRLERİN İŞLENEBİLİRLİĞİNİN KESME KUVVETLERİ VE YÜZEY KALİTELERİ AÇISINDAN DEĞERLENDİRİLMESİ

    Directory of Open Access Journals (Sweden)

    Yücel AŞKUN

    2003-02-01

    Full Text Available Diğer dökme demirlerle karşılaştırıldığında, Küresel Grafitli Dökme Demirin (KGDD yüksek süneklik, çekme dayanımı ve tokluğunun yanında işlenebilirliği nispeten düşüktür. Bununla birlikte; bir çelik parçanın yerine küresel grafitli dökme demir kullanıldığı zaman daha iyi işlenebilirlik en önemli kazanç olarak düşünülmelidir. Bu çalışma, değişik oranlarda Ni ve Cu ile alaşımlandırılmış küresel grafitli dökme demirlerin kesme kuvvetleri ve yüzey pürüzlülüğü üzerine onların mikroyapı ve mekanik özelliklerinin etkilerini belirlemek için yapılan işlenebilirlik testlerinin sonuçlarını göstermektedir. Değişik oranlarda nikel ve bakır ile alaşımlandırılmış altı farklı küresel grafitli dökme demire işlenebilirlik testleri uygulanmış ve onların işlenebilirlikleri kesme kuvvetleri ve yüzey pürüzlülük temel kriterleri üzerine dayanarak incelenmiştir. Sonuçlar; numunelerin daha önceden belirlenmiş olan mikroyapı ve mekanik özelliklerine göre değerlendirilmiştir. Bütün kriterlere dayanarak en iyi sonuçlar, % 0.7 Ni ve % 0.7 Cu ilave edilmiş numunede gözlenmiştir. Numuneler mekanik özellikleri açısından değerlendirildiğinde, % 1 Ni ve % 0.65 Cu ilave edilmiş numunede sağlanacağı görülmektedir.

  17. 48 CFR 215.402 - Pricing policy.

    Science.gov (United States)

    2010-10-01

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

  18. 48 CFR 15.405 - Price negotiation.

    Science.gov (United States)

    2010-10-01

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

  19. Financial Flexibility in Highly Regulated Market: Indonesian Telecommunication Case during Tariff Pricing War

    Directory of Open Access Journals (Sweden)

    Y. Arief Rijanto

    2015-08-01

    Full Text Available In year 2008, regulation of Indonesian telecommunicationindustries changes due the tariff pricing war within Telecommunication opera-tor. This regulation tie up the telecommunication operator and affect operating revenue margin.The needs of financial flexibility within tele-communication firm is increased.Capex, operating revenue and reinvestment needs to be flexible must be inline with competition and change of technology. This paper goals is measuring financial flexibility based on Capex, operating revenue and re-investment needs.Reinvestment needs by Telecommunication operator can be financed with or without financial flexibility. Data from year 2007 up to 2014 is selec-ted to accommodate before and after changes of telecommunication regulation. The regulation effect to financial flexibility of telecommu-nication firm is still relevantbecause telecommunication industries by nature needs larger capital to re-new the telecommunication technology. Real options method will be used to measure financial flexibility.

  20. Discussion: the supply price control

    International Nuclear Information System (INIS)

    Littlechild, S.

    1993-01-01

    Following the paper given by the Director General of the Office of Electricity Regulation (OFFER) at the Centre for the Study of Regulated Industries (CRI) seminar on Regulatory Policy and the Energy Sector held in November 1992, the issue of Supply Price Controls is debated. The role of OFFER as standing between Government and the Regional Electricity Companies is explored in a question and answer session, covering areas such as pool versus, contract prices, market forces, regulatory arrangements for the electricity supply, price discrimination and franchise markets. (UK)

  1. 48 CFR 15.402 - Pricing policy.

    Science.gov (United States)

    2010-10-01

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

  2. 48 CFR 970.1504-2 - Price negotiation.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Price negotiation. 970.1504-2 Section 970.1504-2 Federal Acquisition Regulations System DEPARTMENT OF ENERGY AGENCY SUPPLEMENTARY REGULATIONS DOE MANAGEMENT AND OPERATING CONTRACTS Contracting by Negotiation 970.1504-2 Price negotiation. (a) Management and operating contract...

  3. Tariff rebalancing and price structure in privatised utilities

    International Nuclear Information System (INIS)

    Weyman-Jones, T.; Burns, P.

    1996-01-01

    The document contains the end of award report on research into re-balancing and price structure in privatised utilities, funded by the Economic and Social Science Research Council (ESRC). Ramsey pricing ideas in United Kingdom utilities were modelled under different forms of regulation and cost/price relationships measured. Alternative forms of regulation that permit Ramsey pricing were also evaluated. Option price theory is shown to be central to an understanding of incentive mechanisms and their relationship to regulatory options. (UK)

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

    Science.gov (United States)

    Maïga, Diadié; Williams-Jones, Bryn

    2010-10-01

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

  5. 48 CFR 1615.402 - Pricing policy.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Pricing policy. 1615.402... Contract Pricing 1615.402 Pricing policy. Pricing of FEHB contracts is governed by 5 U.S.C. 8902(i), 5 U.S....403-4(a)(1), OPM will not require the carrier to provide cost or pricing data in the rate proposal for...

  6. 48 CFR 52.215-11 - Price Reduction for Defective Certified Cost or Pricing Data-Modifications.

    Science.gov (United States)

    2010-10-01

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

  7. 43 CFR 402.6 - Price.

    Science.gov (United States)

    2010-10-01

    ... 43 Public Lands: Interior 1 2010-10-01 2010-10-01 false Price. 402.6 Section 402.6 Public Lands: Interior Regulations Relating to Public Lands BUREAU OF RECLAMATION, DEPARTMENT OF THE INTERIOR SALE OF LANDS IN FEDERAL RECLAMATION PROJECTS Public Lands § 402.6 Price. The price of land sold under this...

  8. Effects of SO2 emission regulations and fuel prices on levellized energy costs for industrial steam generation options

    International Nuclear Information System (INIS)

    Ozdogan, Sibel; Arikol, Mahir

    1992-01-01

    We discuss the impacts of SO 2 emission regulations and fuel prices on levellized energy costs of industrial steam generation options. A computer model called INDUSTEAM has been utilized. The steam-supply options comprise conventional grate-firing, bubbling and circulating fluidized beds, fuel-oil, and natural-gas-fired systems. Fuels of different SO 2 pollution potential have been evaluated assuming six environmental scenarios and varying fuel prices. A capacity range of 10-90 MW th is covered. (author)

  9. Report of the Economy, Sustainable Development and Land Planning Commission aiming at authorizing electricity final user and small companies to go back to the electricity regulated price

    International Nuclear Information System (INIS)

    2010-01-01

    This report first presents the French regulated price system by recalling the legal bases for electricity and natural gas pricing, and by describing the progressive process of the electricity and natural gas market opening in France. It outlines that a reversibility principle has been introduced along with regulated pricing in most of the European Union countries. It also comments the complexity created on this issue by successive laws in France, the consequences of the soon coming law on the new organization of the electricity market. Then, the report comments the proposition which aims at authorizing electricity household users and small companies to go back to the regulated electricity price, thereby perpetuating the reversibility principle, while maintaining a criterion of installed electricity power, including natural gas prices and new consumption sites. A table proposes a comparison between existing texts, the present law project and this Commission proposition

  10. 48 CFR 15.403 - Obtaining certified cost or pricing data.

    Science.gov (United States)

    2010-10-01

    ... or pricing data. 15.403 Section 15.403 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION CONTRACTING METHODS AND CONTRACT TYPES CONTRACTING BY NEGOTIATION Contract Pricing 15.403 Obtaining certified cost or pricing data. ...

  11. 7 CFR 1030.54 - Equivalent price.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Equivalent price. 1030.54 Section 1030.54 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING SERVICE (Marketing Agreements... Handling Class Prices § 1030.54 Equivalent price. See § 1000.54. ...

  12. 48 CFR 13.103 - Use of standing price quotations.

    Science.gov (United States)

    2010-10-01

    ... quotations. 13.103 Section 13.103 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION... price quotations. Authorized individuals do not have to obtain individual quotations for each purchase. Standing price quotations may be used if— (a) The pricing information is current; and (b) The Government...

  13. 17 CFR 242.201 - Price test.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Price test. 242.201 Section...-Regulation of Short Sales § 242.201 Price test. Link to an amendment published at 75 FR 11323, Mar. 10, 2010. (a) No short sale price test, including any short sale price test of any self-regulatory organization...

  14. Analysis of electricity price in Danish competitive electricity market

    DEFF Research Database (Denmark)

    Hu, Weihao; Chen, Zhe; Bak-Jensen, Birgitte

    2012-01-01

    electricity markets in some ways, is chosen as the studied power system. 10 year actual data from the Danish competitive electricity market are collected and analyzed. The relationship among the electricity price (both the spot price and the regulation price), the consumption and the wind power generation...... in an electricity market is investigated in this paper. The spot price and the regulation price generally decrease when the wind power penetration in the power system increases or the consumption of the power system decreases. The statistical characteristics of the spot price and the regulation price for different...... consumption periods and wind power penetration are analyzed. Simulation results show that the findings of this paper are useful for wind power generation companies to make the optimal bidding strategy so that the imbalance cost of trading wind power on the electricity market could be reduced....

  15. Pricing end-of-life components

    Science.gov (United States)

    Vadde, Srikanth; Kamarthi, Sagar V.; Gupta, Surendra M.

    2005-11-01

    The main objective of a product recovery facility (PRF) is to disassemble end-of-life (EOL) products and sell the reclaimed components for reuse and recovered materials in second-hand markets. Variability in the inflow of EOL products and fluctuation in demand for reusable components contribute to the volatility in inventory levels. To stay profitable the PRFs ought to manage their inventory by regulating the price appropriately to minimize holding costs. This work presents two deterministic pricing models for a PRF bounded by environmental regulations. In the first model, the demand is price dependent and in the second, the demand is both price and time dependent. The models are valid for single component with no inventory replenishment sale during the selling horizon . Numerical examples are presented to illustrate the models.

  16. Value-based differential pricing: efficient prices for drugs in a global context.

    Science.gov (United States)

    Danzon, Patricia; Towse, Adrian; Mestre-Ferrandiz, Jorge

    2015-03-01

    This paper analyzes pharmaceutical pricing between and within countries to achieve second-best static and dynamic efficiency. We distinguish countries with and without universal insurance, because insurance undermines patients' price sensitivity, potentially leading to prices above second-best efficient levels. In countries with universal insurance, if each payer unilaterally sets an incremental cost-effectiveness ratio (ICER) threshold based on its citizens' willingness-to-pay for health; manufacturers price to that ICER threshold; and payers limit reimbursement to patients for whom a drug is cost-effective at that price and ICER, then the resulting price levels and use within each country and price differentials across countries are roughly consistent with second-best static and dynamic efficiency. These value-based prices are expected to differ cross-nationally with per capita income and be broadly consistent with Ramsey optimal prices. Countries without comprehensive insurance avoid its distorting effects on prices but also lack financial protection and affordability for the poor. Improving pricing efficiency in these self-pay countries includes improving regulation and consumer information about product quality and enabling firms to price discriminate within and between countries. © 2013 The Authors. Health Economics published by John Wiley & Sons Ltd.

  17. Are high oil prices a threat for the price stability?

    International Nuclear Information System (INIS)

    Mollerus, A.

    2000-01-01

    The high price for oil and the decreased value of the Euro increase the risks for the stability of prices. Still, the prospects for inflation are favorable for the Euro zone. Less favorable are the consequences for the Netherlands, while the inflation difference with the Euro zone appears to become bigger, in particular as a result of the new Tax regulations in the Netherlands

  18. Guidelines for price cap regulation in the Dutch electricity sector for the period 2000-2003

    International Nuclear Information System (INIS)

    Burns, P.; Newbery, D.; Tjin, T.; Verdonkschot, I.; Buitelaar, T.; Van Gent, C.

    2000-02-01

    July 1999 The Netherlands Electricity Regulatory Service (DtE) published an Information and Consultation Document on the title subject. By means of price cap regulation tariffs are determined such that businesses are stimulated continuously to organize their total processes and operation as efficient as possible. In the consultation document a large number of questions with respect to the future organization and planning of the system of economic regulation of the electricity sector in the Netherlands can be found. Many reactions and answers were received, compiled and analyzed. The results are presented in this report, which forms the framework for the DtE to shape the economic regulation of the Dutch electricity sector

  19. 48 CFR 836.606-72 - Contract price.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Contract price. 836.606-72 Section 836.606-72 Federal Acquisition Regulations System DEPARTMENT OF VETERANS AFFAIRS SPECIAL...-72 Contract price. (a) Where negotiations with the top-rated firm are unsuccessful, the contracting...

  20. 48 CFR 452.216-74 - Ceiling Price.

    Science.gov (United States)

    2010-10-01

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

  1. 48 CFR 1352.215-76 - Cost or pricing data.

    Science.gov (United States)

    2010-10-01

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

  2. 7 CFR 27.97 - Ascertaining the accuracy of price quotations.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Ascertaining the accuracy of price quotations. 27.97... CONTAINER REGULATIONS COTTON CLASSIFICATION UNDER COTTON FUTURES LEGISLATION Regulations Price Quotations and Differences § 27.97 Ascertaining the accuracy of price quotations. The buyers and sellers of...

  3. 48 CFR 52.214-27 - Price Reduction for Defective Certified Cost or Pricing Data-Modifications-Sealed Bidding.

    Science.gov (United States)

    2010-10-01

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

  4. 76 FR 13902 - Fair Credit Reporting Risk-Based Pricing Regulations

    Science.gov (United States)

    2011-03-15

    ... TRADE COMMISSION 16 CFR Parts 640 and 698 RIN R411009 Fair Credit Reporting Risk-Based Pricing... respective risk-based pricing rules to require disclosure of credit scores and information relating to credit scores in risk-based pricing notices if a credit score of the consumer is used in setting the material...

  5. Earnings management under price regulation. Empirical evidence from the Spanish electricity industry

    International Nuclear Information System (INIS)

    Gill-de-Albornoz, Belen; Illueca, Manuel

    2005-01-01

    This paper analyses the effect of price regulation on the accounting policy of Spanish electricity companies over the period 1991-2001. As predicted by the political costs hypothesis (Watts and Zimmerman, 1986) (Watts, R.L., Zimmerman, J.L. 1986. Positive accounting theory, Prentice Hall, Englewood Cliffs, NJ), managers artificially reduce reported earnings when the government establishes tariff increases. In this way, companies attempt to diminish their political visibility and counteract social outcry arising from the government's decision. Several abnormal accruals models existent in the literature are used to obtain a proxy for managerial accounting discretion on earnings

  6. 48 CFR 46.307 - Fixed-price research and development contracts.

    Science.gov (United States)

    2010-10-01

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

  7. ASPEK PERPAJAKAN DALAM PRAKTEK TRANSFER PRICING

    Directory of Open Access Journals (Sweden)

    Yenni Mangoting

    2000-01-01

    Full Text Available Transfer pricing is defined as a special price for sale that is used in exchange of interdivisional to record the revenue of the selling division and expense of the buying division. The main goal of transfer pricing is to evaluate and measure the performance of a company. But transfer pricing is often used by multinational companies to minimize tax paid through the re-engineering of price transferred among divisions. The key to a successful practice of transfer pricing from tax standpoint is the existence of related parties transactions. Related parties is relationship between one company with other company and this relationship happens because of such relationship between each company does not exist naturally.To regulate the tranfer pricing practice, the regulations govern the authority to realocate transfer price among divisions that have related parties transactions. Abstract in Bahasa Indonesia : Transfer pricing didefenisikan sebagai suatu harga jual khusus yang dipakai dalam pertukaran antardivisional untuk mencatat pendapatan divisi penjual (selling division dan biaya divisi pembeli (buying division. Tujuan utama dari transfer pricing adalah mengevaluasi dan mengukur kinerja perusahaan. Tetapi sering juga transfer pricing digunakan oleh perusahaan-perusahaan multinasional untuk meminimalkan jumlah pajak yang dibayar melalui rekayasa harga yang ditransfer antardivisi. Kunci utama keberhasilan transfer pricing dari sisi pajak adalah adanya transaksi karena adanya hubungan istimewa. Hubungan istimewa merupakan hubungan kepemilikan antara satu perusahaan dengan perusahaan lain dan hubungan ini terjadi karena adanya keterkaitan satu pihak dengan pihak lain yang tidak terdapat pada hubungan biasa. Untuk mengatur transfer pricing ini, undang-undang memberikan kewenangan kepada pihak fiskus untuk menentukan kembali jumlah harga transfer antar pihak-pihak yang mempunyai hubungan istimewa. Kata kunci: transfer pricing, hubungan istimewa, perusahaan

  8. International Transfer Pricing Regulation: Nigerian Experience ...

    African Journals Online (AJOL)

    Multinational enterprises (MNEs), as any other international business concern, have among other objectives, the reduction of foreign exchange risk, duties or tariffs, foreign and domestic taxes, which ultimately maximise the enterprises profitability. The use of international transfer pricing strategy by MNEs remains on the ...

  9. 31 CFR 56.2 - Sales price.

    Science.gov (United States)

    2010-07-01

    ... 31 Money and Finance: Treasury 1 2010-07-01 2010-07-01 false Sales price. 56.2 Section 56.2 Money and Finance: Treasury Regulations Relating to Money and Finance DOMESTIC GOLD AND SILVER OPERATIONS SALE OF SILVER § 56.2 Sales price. Sales of silver will be at prices offered through the competitive...

  10. Regulated electricity retailing in Chile

    Energy Technology Data Exchange (ETDEWEB)

    Galetovic, Alexander, E-mail: alexander@galetovic.cl [Facultad de Ciencias Economicas y Empresariales, Universidad de los Andes, Santiago, Chile. Av. San Carlos de Apoquindo 2200, Las Condes, Santiago (Chile); Munoz, Cristian M., E-mail: cmunozm@aes.com [AES Gener and Departamento de Ingenieria Electrica, Universidad Catolica de Chile (Chile)

    2011-10-15

    While some countries have unbundled distribution and retailing, skeptics argue that the physical attributes of electricity make retailers redundant. Instead, it is claimed that passive pass through of wholesale prices plus regulated charges for transmission and distribution suffice for customers to benefit from competitive generation markets. We review the Chilean experience with regulated retailing and pass through of wholesale prices. We argue that when energy wholesale prices are volatile and prices are stabilized, distortions emerge. Regulated retailers gain little by mitigating or correcting them. On the contrary, sometimes price distortions increase their profits. We estimate the cost of three distortions that neither regulated retailers nor the regulator have shown any interest in correcting. - Highlights: > We review Chile's experience with regulated electricity retailing. > Distortions emerge when energy wholesale prices are volatile and prices stabilized. > Regulated retailers gain little by mitigating or correcting distortions. > Sometimes price distortions increase retailers' profits. > We estimate the cost of three distortions, which retailers have not corrected.

  11. Regulated electricity retailing in Chile

    International Nuclear Information System (INIS)

    Galetovic, Alexander; Munoz, Cristian M.

    2011-01-01

    While some countries have unbundled distribution and retailing, skeptics argue that the physical attributes of electricity make retailers redundant. Instead, it is claimed that passive pass through of wholesale prices plus regulated charges for transmission and distribution suffice for customers to benefit from competitive generation markets. We review the Chilean experience with regulated retailing and pass through of wholesale prices. We argue that when energy wholesale prices are volatile and prices are stabilized, distortions emerge. Regulated retailers gain little by mitigating or correcting them. On the contrary, sometimes price distortions increase their profits. We estimate the cost of three distortions that neither regulated retailers nor the regulator have shown any interest in correcting. - Highlights: → We review Chile's experience with regulated electricity retailing. → Distortions emerge when energy wholesale prices are volatile and prices stabilized. → Regulated retailers gain little by mitigating or correcting distortions. → Sometimes price distortions increase retailers' profits. → We estimate the cost of three distortions, which retailers have not corrected.

  12. 48 CFR 1816.202 - Firm-fixed-price contracts.

    Science.gov (United States)

    2010-10-01

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

  13. Interdependent demands, regulatory constraint, and peak-load pricing. [Assessment of Bailey's model

    Energy Technology Data Exchange (ETDEWEB)

    Nguyen, D T; Macgregor-Reid, G J

    1977-06-01

    A model of a regulated firm which includes an analysis of peak-load pricing has been formulated by E. E. Bailey in which three alternative modes of regulation on a profit-maximizing firm are considered. The main conclusion reached is that under a regulation limiting the rate of return on capital investment, price reductions are received solely by peak-users and that when regulation limiting the profit per unit of output or the return on costs is imposed, there are price reductions for all users. Bailey has expressly assumed that the demands in different periods are interdependent but has somehow failed to derive the correct price and welfare implications of this empirically highly relevant assumption. Her conclusions would have been perfectly correct for marginal revenues but are quite incorrect for prices, even if her assumption that price exceeds marginal revenues in every period holds. This present paper derives fully and rigorously the implications of regulation for prices, outputs, capacity, and social welfare for a profit-maximizing firm with interdependent demands. In section II, Bailey's model is reproduced and the optimal conditions are given. In section III, it is demonstrated that under the conditions of interdependent demands assumed by Bailey herself, her often-quoted conclusion concerning the effects of the return-on-investment regulation on the off-peak price is invalid. In section IV, the effects of the return-on-investment regulation on the optimal prices, outputs, capacity, and social welfare both for the case in which the demands in different periods are substitutes and for the case in which they are complements are examined. In section V, the pricing and welfare implications of the return-on-investment regulation are compared with the two other modes of regulation considered by Bailey. Section VI is a summary of all sections. (MCW)

  14. Preliminary report. Preliminary findings and views concerning the exemption of kerojet fuels from the Mandatory Petroleum Allocation and Price Regulations

    Energy Technology Data Exchange (ETDEWEB)

    None

    1978-01-01

    Preliminary findings indicate the following: kerojet fuel is not in short supply; it will not adversely impact on the supply of other petroleum products subject to the Emergency Petroleum Allocation Act; competition and market forces are adequate; and it will not result in inequitable prices for kerojet or other products. Chapter II provides background information on the use, production, and distribution of kerojet. Chapter III analyzes the historical interaction of supply, demand, and price, and explores the market structure for kerojet during 1968 to 1976, prior to and during imposition of allocation and price controls. Chapter IV examines the effect upon kerojet supply, demand, price, and market structure of exempting kerojet from controls and indicates the benefits to be derived from such exemption. In Chapter V, the potential economic impacts of exemption are evaluated. Chapter VI provides a final summary of the DOE's findings and views in support of its preliminary judgment that kerojet should be exempted from allocation and price regulations. (MCW)

  15. The Pricing of natural gas

    International Nuclear Information System (INIS)

    Nese, Gjermund

    2004-11-01

    The report focuses on the pricing of natural gas. The motivation has been the wish of the Norwegian authorities to increase the use of natural gas and that this should follow market conditions. The pricing of gas occurs at present in various ways in the different markets. The report identifies to main factors behind the pricing. 1) The type of market i.e. how far the liberalization of the gas markets has gone in the various countries. 2) The development within the regulation, climate and tax policies. The gas markets are undergoing as the energy markets in general, a liberalization process where the traditional monopoly based market structures are replaced by markets based on competition. There are great differences in the liberalization development of the various countries, which is reflected in the various pricing principles applied for the trade of gas in the countries. The analysis shows that the net-back-pricing is predominant in some countries i.e. that the price is in various ways indexed towards and follow the development of the price of alternative energy carriers so that the gas may be able to compete. The development towards trade places for gas where the pricing is based on offer and demand is already underway. As the liberalization of the European gas markets progresses it is expected that the gas price will be determined increasingly at spot markets instead of through bilateral agreements between monopolistic corporations. The development within the regulation, climate and tax policies and to what extent this may influence the gas prices in the future, are also studied. There seem to be effects that may pull in both directions but it is evident that these political variables will influence the gas pricing in the international market to a large extent and thereby also the future internal natural gas market

  16. 48 CFR 15.406-2 - Certificate of current cost or pricing data.

    Science.gov (United States)

    2010-10-01

    ... cost or pricing data. 15.406-2 Section 15.406-2 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION CONTRACTING METHODS AND CONTRACT TYPES CONTRACTING BY NEGOTIATION Contract Pricing 15.406-2 Certificate of current cost or pricing data. (a) When certified cost or pricing data are...

  17. Pricing methodologies and approaches

    International Nuclear Information System (INIS)

    Petrov, K.

    2002-01-01

    The following topics are dealt with: Role of regulatory control in the electric power market; Price regulation; Market monitoring; Quality of supply regulation; Regulatory challenges in Central and Eastern Europe. The findings of these questions are summarized in the Summary. (R.P.)

  18. 48 CFR 32.501-3 - Contract price.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Contract price. 32.501-3... REQUIREMENTS CONTRACT FINANCING Progress Payments Based on Costs 32.501-3 Contract price. (a) For the purpose of making progress payments and determining the limitation on progress payments, the contract price...

  19. 48 CFR 232.501-3 - Contract price.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Contract price. 232.501-3... 232.501-3 Contract price. (b) The contracting officer may approve progress payments when the contract price exceeds the funds obligated under the contract, provided the contract limits the Government's...

  20. Electricity prices in a competitive environment: Marginal cost pricing of generation services and financial status of electric utilities. A preliminary analysis through 2015

    International Nuclear Information System (INIS)

    1997-08-01

    The emergence of competitive markets for electricity generation services is changing the way that electricity is and will be priced in the United States. This report presents the results of an analysis that focuses on two questions: (1) How are prices for competitive generation services likely to differ from regulated prices if competitive prices are based on marginal costs rather than regulated open-quotes cost-of-serviceclose quotes pricing? (2) What impacts will the competitive pricing of generation services (based on marginal costs) have on electricity consumption patterns, production costs, and the financial integrity patterns, production costs, and the financial integrity of electricity suppliers? This study is not intended to be a cost-benefit analysis of wholesale or retail competition, nor does this report include an analysis of the macroeconomic impacts of competitive electricity prices

  1. 48 CFR 1852.216-78 - Firm fixed price.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Firm fixed price. 1852.216... 1852.216-78 Firm fixed price. As prescribed in 1816.202-70, insert the following clause: Firm Fixed Price (DEC 1988) The total firm fixed price of this contract is $[Insert the appropriate amount]. (End...

  2. Essays on price cap regulation and yardstick competition

    Science.gov (United States)

    Noronha, Vernon Andrew

    This dissertation presents three papers on the regulation of monopoly firms in the same industry using yardstick competition to determine prices. In the first paper, "Yardstick Competition for Diversified Firms," we extend Shleifer's (1985) model to the case of diversified firms, and find that the social optimum, in which firms would need to produce at lower marginal cost than in Shleifer's model, is unlikely to be attained through profit maximization. In the second paper, "Cost Reduction under a Regression-Based Revenue Cap Regime," we identify certain hitherto unexplored and potentially undesirable properties for the form of yardstick competition that is widely applied. Allowed revenue totals for monopoly utility firms are determined by a regression of all firms' current costs on their cost drivers. It is shown that this mechanism induces firms to invest less in cost-reducing technology than if prices are determined purely exogenously, and that such cost-distorting behavior is not uniform across the industry. In particular, firms whose sizes are most different from the industry-mean elevate their costs proportionately much more than firms of similar size to the mean. However, this distortion vanishes as the number of firms grows large. In the third paper, "Predicted Cost-Distorting Conduct by UK Electricity Distribution Firms," by undertaking numerical examples using data on the UK electricity distribution industry, we discover that although the currently employed system of yardstick competition may have theoretical shortcomings, in practice, these are of slight consequence. There is found to be relatively little predicted distortion of costs for the majority of firms. In fact, this system is shown to generate greater social welfare than a similar system in which firms would not have any incentive to distort costs, unless consumer surplus enjoys a very high weight relative to industry profits. It is also shown that mergers within the industry could have an

  3. Determination of the Regulatory Asset Base of power distribution companies. Background report of 'Guidelines for price cap regulation in the Dutch electricity sector'

    International Nuclear Information System (INIS)

    Tjin, T.; Buitelaar, T.

    2000-02-01

    July 1999 The Netherlands Electricity Regulatory Service (DtE) published an Information and Consultation Document on the subject of 'Price Cap Regulation in the Dutch Electricity Sector'. By means of price cap regulation tariffs are determined such that businesses are stimulated continuously to organize their total processes and operation as efficient as possible. In the consultation document a large number of questions with respect to the future organization and planning of the system of economic regulation of the electricity sector in the Netherlands can be found. Many reactions and answers were received, compiled and analyzed. The results are presented in the main report, which forms the framework for the DtE to shape the economic regulation of the Dutch electricity sector. In this background document attention is paid to a method to determine the Regulatory Asset Base (RAB)

  4. Ethical aspect price decision making

    Directory of Open Access Journals (Sweden)

    Grubor Aleksandar

    2007-01-01

    Full Text Available Price decision making in a marketing program framework creatings is a complicated and delicated part of marketing management, especially to keep in sight culminating of mass external factors. In a market economies price policy as a marketing mix instrument rarely is regulated by the law, which opening the ethical aspect questions of price decision making process. The ethics in the price decision making means consideration of the inner law of the individual (marketing managers and/or consumers, whose irreverence does not entail any juridical sanctions, rather its application is sanctioned by the self - awareness. The acception and stability of the ethical aspect price decision making are determined by the characteristic of selected marketing environment.

  5. Pricing schemes for new drugs: a welfare analysis.

    Science.gov (United States)

    Levaggi, Rosella

    2014-02-01

    Drug price regulation is acquiring increasing significance in the investment choices of the pharmaceutical sector. The overall objective is to determine an optimal trade-off between the incentives for innovation, consumer protection, and value for money. However, price regulation is itself a source of distortion. In this study, we examine the welfare properties of listing through a bargaining process and value-based pricing schemes. The latter are superior instruments to uncertain listing processes for maximising total welfare, but the distribution of the benefits between consumers and the industry depends on rate of rebate chosen by the regulator. However, through an appropriate choice, it is always possible to define a value-based pricing scheme with risk sharing, which both consumers and the industry prefer to an uncertain bargaining process. Copyright © 2013 Elsevier Ltd. All rights reserved.

  6. 7 CFR 1124.62 - Announcement of producer prices.

    Science.gov (United States)

    2010-01-01

    ... butterfat, protein, nonfat solids, and other solids content of producer milk; and (g) The statistical... publicly the following prices and information: (a) The producer price differential; (b) The protein price....62 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING...

  7. 7 CFR 1030.62 - Announcement of producer prices.

    Science.gov (United States)

    2010-01-01

    ... cell adjustment rate; (g) The average butterfat, nonfat solids, protein and other solids content of... publicly the following prices and information: (a) The producer price differential; (b) The protein price....62 Agriculture Regulations of the Department of Agriculture (Continued) AGRICULTURAL MARKETING...

  8. Energy pricing under uncertain supply

    International Nuclear Information System (INIS)

    Serra, P.J.

    1997-01-01

    This paper introduces a new pricing system - based on the Chilean tariff regulations - to deal with an uncertain energy supply. It consists of a basic rate for each unit actually consumed and a compensation that the utilities pay their customers for each unit of energy that they voluntarily reduce below their normal consumption during an energy shortage. Within the framework of a model that portrays the stylized facts of the Chilean electric system, and assumes risk-neutral agents, this paper shows the equivalency of the new pricing system with both contingent pricing and priority pricing. (Author)

  9. CONFLICT OF INTERESTS IN TRANSFER PRICING

    Directory of Open Access Journals (Sweden)

    M. Osvald

    2014-09-01

    Full Text Available In the conditions of globalization all the companies try to find the effective ways of maximizing their profit. One of the instruments is the system of the transfer pricing that helps to optimize the costs and allocate effective the resources of the company. Transfer pricing has detrimental effect on the economy of countries, though the governments use the regulations to minimize this effect on their economy. In this case the conflict of interests appears. Paper deals with an analysis of the functions and reasons of the economic agents which use the transfer prices to demonstrate the conflict of interests in transfer pricing. The purpose of the study is the determination of the best ways to solve the conflict situations in the process of transfer pricing according to the economic interests of the agents: company and government and within the company: headquarters and subsidiaries. The main point of resolving the conflict between company and government is to make clear regulations of transfer pricing for enterprises and productive relations between company and government. The methods to resolve the conflict within the company are: clear guidelines, decentralization and motivation for stuff members.

  10. Taxes, Regulations, and Asset Prices

    OpenAIRE

    Ellen R. McGrattan; Edward C. Prescott

    2001-01-01

    U.S. stock prices have increased much faster than gross domestic product (GDP) in the postwar period. Between 1962 and 2000, corporate equity value relative to GDP nearly doubled. In this paper, we determine what standard growth theory says the equity value should be in 1962 and 2000, the two years for which our steady-state assumption is a reasonable one. We find that the actual valuations were close to the theoretical predictions in both years. The reason for the large run-up in equity valu...

  11. Detailed analysis of costs of historical providers to be taken into account in natural gas regulated prices from the 1 July 2017. Report, 24 May 2017

    International Nuclear Information System (INIS)

    2017-01-01

    This publication first proposes an analysis of Engie costs regarding gas sale regulated prices. This comprises a presentation of the Engie cost structure, an analysis of coverage of costs by sales incomes, a presentation of supply costs and conditions for Engie, an analysis of supply-excluded provisional costs (distribution costs, transport costs, storage costs, commercial costs). The second part proposes a brief cost analysis for 5 other historical providers regarding regulated prices

  12. Electricity prices in a competitive environment: Marginal cost pricing of generation services and financial status of electric utilities. A preliminary analysis through 2015

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-08-01

    The emergence of competitive markets for electricity generation services is changing the way that electricity is and will be priced in the United States. This report presents the results of an analysis that focuses on two questions: (1) How are prices for competitive generation services likely to differ from regulated prices if competitive prices are based on marginal costs rather than regulated {open_quotes}cost-of-service{close_quotes} pricing? (2) What impacts will the competitive pricing of generation services (based on marginal costs) have on electricity consumption patterns, production costs, and the financial integrity patterns, production costs, and the financial integrity of electricity suppliers? This study is not intended to be a cost-benefit analysis of wholesale or retail competition, nor does this report include an analysis of the macroeconomic impacts of competitive electricity prices.

  13. Preliminary report. Preliminary findings and views concerning the exemption of aviation gasoline from the Mandatory Petroleum Allocation and Price Regulations

    Energy Technology Data Exchange (ETDEWEB)

    None

    1978-01-01

    Preliminary findings indicate that: the fuel is not in short supply; exemption will not have an adverse impact on supply of any other petroleum product subject to the Emergency Petroleum allocation Act of 1973; competition and market force are adequate; exemption will not result in inequitable prices; and exemption will not have adverse state or regional impacts or any other adverse impacts. Chapter II provides background information on the use, production, and distribution of aviation gasoline. Chapter III analyzes the historical interaction of supply, demand, and price, and explores the market structure for aviation gasoline during 1968 to 1976, prior to and during imposition of allocation and price controls. Chapter IV examines aviation gasoline supply, demand, price, and market structure impacts of exempting aviation gasoline from controls. In Chapter V, the potential economic impacts of exemption are evaluated. Chapter VI provides a final summary of the DOE's findings and views in support of its preliminary judgment that aviation gasoline should be exempted from allocation and price regulations. (MCW)

  14. The Relationship Between Electricity Price and Wind Power Generation in Danish Electricity Markets

    DEFF Research Database (Denmark)

    Hu, Weihao; Chen, Zhe; Bak-Jensen, Birgitte

    2010-01-01

    of competitive electricity markets in some ways, is chosen as the studied power system. The relationship between the electricity price (both the spot price and the regulation price) and the wind power generation in an electricity market is investigated in this paper. The spot price, the down regulation price...... and the up regulation price generally decreases when the wind power penetration in the power system increases. The statistical characteristics of the spot price for different wind power penetration are analyzed. The findings of this paper may be useful for wind power generation companies to make the optimal...... bidding strategy and may be also useful for the optimal operation of modern power systems with high wind power penetrations....

  15. 48 CFR 629.402-1 - Foreign fixed-price contracts.

    Science.gov (United States)

    2010-10-01

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

  16. 48 CFR 1352.216-77 - Ceiling price.

    Science.gov (United States)

    2010-10-01

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

  17. 48 CFR 15.407 - Special cost or pricing areas.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Special cost or pricing... CONTRACTING METHODS AND CONTRACT TYPES CONTRACTING BY NEGOTIATION Contract Pricing 15.407 Special cost or pricing areas. ...

  18. 48 CFR 1315.407 - Special cost or pricing areas.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Special cost or pricing... CONTRACTING METHODS AND CONTRACT TYPES CONTRACTING BY NEGOTIATION Contract Pricing 1315.407 Special cost or pricing areas. ...

  19. 48 CFR 15.404-3 - Subcontract pricing considerations.

    Science.gov (United States)

    2010-10-01

    ... CONTRACTING METHODS AND CONTRACT TYPES CONTRACTING BY NEGOTIATION Contract Pricing 15.404-3 Subcontract pricing considerations. (a) The contracting officer is responsible for the determination of a fair and... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Subcontract pricing...

  20. 75 FR 53135 - Federal Acquisition Regulation; Definition of Cost or Pricing Data

    Science.gov (United States)

    2010-08-30

    ...; Definition of Cost or Pricing Data AGENCIES: Department of Defense (DoD), General Services Administration... ``certified cost or pricing data'' and ``data other than certified cost or pricing data'', and to clarify requirements for submission of cost or pricing data. DATES: Effective Date: October 1, 2010. FOR FURTHER...

  1. 48 CFR 1815.407 - Special cost or pricing areas.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Special cost or pricing... ADMINISTRATION CONTRACTING METHODS AND CONTRACT TYPES CONTRACTING BY NEGOTIATION Contract Pricing 1815.407 Special cost or pricing areas. ...

  2. 48 CFR 1815.403 - Obtaining cost or pricing data.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Obtaining cost or pricing... ADMINISTRATION CONTRACTING METHODS AND CONTRACT TYPES CONTRACTING BY NEGOTIATION Contract Pricing 1815.403 Obtaining cost or pricing data. ...

  3. 48 CFR 970.1504-4 - Special cost or pricing areas.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Special cost or pricing areas. 970.1504-4 Section 970.1504-4 Federal Acquisition Regulations System DEPARTMENT OF ENERGY AGENCY... cost or pricing areas. ...

  4. The case for Ofsmoke: the potential for price cap regulation of tobacco to raise £500 million per year in the UK.

    Science.gov (United States)

    Branston, J Robert; Gilmore, Anna B

    2014-01-01

    A system of price-cap regulation has previously been suggested to address the market failure inherent to the tobacco industry. This would benefit public health directly (eg, by making it extremely difficult for the industry to sell cut-price cigarettes, or use price as a marketing strategy) and indirectly (eg, by reducing the available money the industry has for spending on marketing and lobbying). This paper explores the feasibility of applying such a scheme in the UK. The impact of price-capping is modelled using optimistic and conservative scenarios, each with different assumptions, and using 2009 and 2010 profit data for the major companies selling tobacco in the UK. The models are used to calculate by how much would profit be reduced through the imposition of price caps, and thus, how much revenue could be raised in additional taxes, assuming the end price the consumer pays does not change. Tobacco companies enjoy massive profit margins, up to 67%, in the UK. The optimistic scenario suggests a potential increase in UK tobacco tax revenue of £585.7 million in 2010 (£548.4 million in 2009), while the conservative model suggests an increase in revenue of £433.6 million in 2010 (£399.2 million in 2009). This would be approximately enough to fund, twice over, UK-wide antitobacco smuggling measures, and smoking cessation services in England, including the associated pharmacotherapies, to help people stop smoking. Applying a system of price-cap regulation in the UK would raise around £500 million per annum (US$750 million). This is likely to be an underestimate because of cautious assumptions used in the model. These significant financial benefits, in addition to the public health benefits that would be generated, suggest this is a policy that should be given serious consideration.

  5. THE CASE FOR OFSMOKE: THE POTENTIAL FOR PRICE CAP REGULATION OF TOBACCO TO RAISE £500M PER YEAR IN THE UK

    Science.gov (United States)

    Robert Branston, J.; Gilmore, Anna B.

    2013-01-01

    Objective A system of price-cap regulation has previously been suggested to address the market failure inherent to the tobacco industry. This would benefit public health directly (for example, by making it extremely difficult for the industry to sell cut price cigarettes or use price as a marketing strategy) and indirectly (for example, by reducing the money industry has available to spend on marketing and lobbying). This paper explores the feasibility of applying such a scheme in the UK. Methods The impact of price-capping is modelled using optimistic and conservative scenarios, each with different assumptions, and using 2009 and 2010 profit data for the major companies selling tobacco in the UK. The models are used to calculate by how much profit would be reduced through the imposition of price caps, and thus how much revenue could be raised in additional taxes, assuming the end price the consumer pays does not change. Results Tobacco companies enjoy massive profit margins, up to 67%, in the UK. The optimistic scenario suggests a potential increase in UK tobacco tax revenue of £585.7m in 2010 (£548.4m in 2009), while the conservative model suggests an increase in revenue of £433.6m in 2010 (£399.2m in 2009). This would be approximately enough to fund, twice over, UK wide anti-tobacco smuggling measures and smoking cessation services in England including the associated pharmacotherapies. Conclusions Applying a system of price cap regulation in the UK would raise around £500m per annum (US$750m). This is likely to be an under-estimate because of cautious assumptions used in the model. These significant financial benefits, in addition to the public health benefits that would be generated, suggest this is a policy that should be given serious consideration. PMID:23322310

  6. Effect and potential of grid price regulation on the promotion of electrical efficiency; Wirkung und Potenzial der Netzpreisregulierung fuer die Foerderung der Stromeffizienz. Eine Modellbetrachtung - Schlussbericht

    Energy Technology Data Exchange (ETDEWEB)

    Vettori, A.; Iten, R. [Infras, Zuerich (Switzerland); Worm, H.; Vaterlaus, S. [Polynomics AG, Olten (Switzerland); Spielmann, Ch. [IWB, Basel (Switzerland)

    2009-11-15

    This comprehensive report for the Swiss Federal Office of Energy (SFOE) presents the results of a theoretical analysis concerning the question if further development of grid pricing regulations can help increase efficiency in the use of electricity. Two possible stages in the implementation of grid price regulation are examined and discussed. Knowledge gained from theoretical analysis and from experience made in foreign countries is discussed. Various pricing models are examined and their cost-effectiveness discussed. The models and data used and the results obtained from the analysis are presented and discussed. The report is complemented with an appendix with details on selected results, modelling methods and tools used along with a glossary and a literature list.

  7. 48 CFR 243.204-70-2 - Price ceiling.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Price ceiling. 243.204-70..., DEPARTMENT OF DEFENSE CONTRACT MANAGEMENT CONTRACT MODIFICATIONS Change Orders 243.204-70-2 Price ceiling. Unpriced change orders shall include a not-to-exceed price. [75 FR 48277, Aug. 10, 2010] ...

  8. 48 CFR 217.7505 - Limitations on price increases.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Limitations on price... Acquisition of Replenishment Parts 217.7505 Limitations on price increases. This section provides implementing... award, on a sole source basis, a contract for any centrally managed replenishment part when the price of...

  9. 47 CFR 61.41 - Price cap requirements generally.

    Science.gov (United States)

    2010-10-01

    ... 47 Telecommunication 3 2010-10-01 2010-10-01 false Price cap requirements generally. 61.41 Section... (CONTINUED) TARIFFS General Rules for Dominant Carriers § 61.41 Price cap requirements generally. (a... companies shall not bar a carrier from electing price cap regulation provided the carrier is otherwise...

  10. How group-buying servicescape affect consumers’ purchase intention, the regulating effects of price discount and time pressure

    Directory of Open Access Journals (Sweden)

    Zhang Lingying

    2017-01-01

    Full Text Available This paper constructs a conceptual model of how group-buying servicescape affect consumers’ purchase intention and discusses the regulating effects of price discount and time pressure. This research uses a survey approach to collect data, as a result, we collected 506 valid questionnaires. The results show that aesthetic appeal, information exchange, interpersonal interaction and perceived security have a positive effect on positive emotion; layout and functionality, information exchange and interpersonal interaction have a positive effect on virtual touch. Positive emotion and virtual touch can promote the consumer’s purchase intention, and time pressure and price discount play a regulatory function. The results of this study have an important reference value for group-buying operators to use servicescape to attract and retain consumers.

  11. 48 CFR 1602.170-5 - Cost or pricing data.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Cost or pricing data. 1602... Terms 1602.170-5 Cost or pricing data. (a) Experience-rated carriers. Cost or pricing data for... pricing data for community rated carriers is the specialized rating data used by carriers in computing a...

  12. Energy pricing and implications for the Nigerian environment

    International Nuclear Information System (INIS)

    Iwayemi, A.

    1999-01-01

    Energy pricing has been shown to have direct impact on energy demand and hence on energy efficiency. Regulated pricing which is below actual production price encourages inefficient use of energy with sometimes associated environmental problems. The important consideration presently being given to development of energy in an environmentally safe and economically prosperous society implies that energy pricing an play an important role in achieving these objectives

  13. 48 CFR 616.207 - Firm-fixed-price, level-of-effort term contracts.

    Science.gov (United States)

    2010-10-01

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

  14. 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.

  15. Is a little sunshine all we need? On the impact of sunshine regulation on profits, productivity and prices in the Dutch drinking water sector

    NARCIS (Netherlands)

    de Witte, K.; Saal, D.S.

    2010-01-01

    This paper analyzes the performance of Dutch drinking water utilities before and after the introduction of sunshine regulation, which involves publication of the performance of utilities but no formal price regulation. By decomposing profit change into its economic drivers, our results suggest that,

  16. 48 CFR 19.806 - Pricing the 8(a) contract.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Pricing the 8(a) contract...) Program) 19.806 Pricing the 8(a) contract. (a) The contracting officer shall price the 8(a) contract in accordance with subpart 15.4. If required by subpart 15.4, the SBA shall obtain certified cost or pricing...

  17. 48 CFR 52.243-1 - Changes-Fixed-Price.

    Science.gov (United States)

    2010-10-01

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

  18. 76 FR 37353 - Federal Acquisition Regulation; Information Collection; Certification of Independent Price...

    Science.gov (United States)

    2011-06-27

    ...; Information Collection; Certification of Independent Price Determination and Parent Company and Identifying... requirement concerning certification of independent price determination and parent company and identifying... laws, offerors on Government contracts must complete the certificate of independent price determination...

  19. Price and utilisation differences for statins between four countries.

    Science.gov (United States)

    Thai, Loc Phuoc; Vitry, Agnes Isabelle; Moss, John Robert

    2018-02-01

    Australia, England, France and New Zealand use different policies to regulate their medicines market, which can impact on utilisation and price. To compare the prices and utilisation of statins in Australia, England, France and New Zealand from 2011 to 2013. Utilisation of statins in the four countries was compared using Defined Daily Doses (DDD) per 1000 inhabitants per year. Pairwise Laspeyres and Paasche index comparisons were conducted comparing the price and utilisation of statins. The results showed that the price of statins in New Zealand was the cheapest. The price of statins in Australia was most expensive in 2011 and 2012 but France was more expensive in 2013. There were large differences between the Laspeyres index and Paasche index when comparing the price and utilisation of England with Australia and France. The policies that regulate the New Zealand and England medicines markets were more effective in reducing the price of expensive statins. The relative utilisation of cheaper statins was greatest in England and had a large effect on the differences between the two index results. The pricing policies in Australia have been only partly effective in reducing the price of statins compared to other countries.

  20. 76 FR 16735 - Federal Acquisition Regulation; Information Collection; Certification of Independent Price...

    Science.gov (United States)

    2011-03-25

    ...; Information Collection; Certification of Independent Price Determination and Parent Company and Identifying... requirement concerning certification of independent price determination and parent company and identifying... violating such laws, offerors on Government contracts must complete the certificate of independent price...

  1. 48 CFR 252.236-7000 - Modification proposals-price breakdown.

    Science.gov (United States)

    2010-10-01

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

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

    International Nuclear Information System (INIS)

    1999-03-01

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

  3. Energy price dispute - companies are confident

    International Nuclear Information System (INIS)

    Marcan, P.; Slovak, P.

    2007-01-01

    Energy prices stipulated for 2003 were not compliant with the valid legislation. The Constitutional Court has repeatedly confirmed this fact. The dispute between several Slovak companies and the state will address the damage caused by illegal actions taken by the public authority, including loss of profit. A group of claimants represented by the Club 500 association is claiming up to 2 bil. Sk (57.97 mil. EUR) as compensation for the mistake made by the Office for Regulation of Network Industries (URSO), including the unclear calculation of the lost profit of companies. It will be up to the courts to decide whether the price deregulation really caused damage to the companies or whether they just took advantage of the faulty legislation.The companies base their claims on a decision of the Constitutional Court. Last year the Court twice announced that the 2003 energy prices were not compliant with valid legislation. At that time, Slovakia lacked a generally binding regulation that should have been in place according to the Act on Regulation of Network Industries. Currently, the role of these missing regulations has been taken over by URSO decrees. These stipulate justified costs and adequate profit of energy suppliers. The regulator had such a decree prepared at the end of 2002, but due to material stipulations and time constraints it did not publish it. (authors)

  4. 48 CFR 215.403-3 - Requiring information other than cost or pricing data.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Requiring information other than cost or pricing data. 215.403-3 Section 215.403-3 Federal Acquisition Regulations System... CONTRACTING BY NEGOTIATION Contract Pricing 215.403-3 Requiring information other than cost or pricing data...

  5. International Transfer Pricing in Multinational Enterprises

    DEFF Research Database (Denmark)

    Rossing, Christian Plesner; Cools, Martine; Rohde, Carsten

    2017-01-01

    Current curricula in management accounting stress the role of transfer pricing as a tool for measuring the performance of responsibility centers and their managers. Recently, however, multinational enterprises (MNEs) have felt increasing pressure to comply with transfer pricing tax regulation...... of responsibility accounting. Specifically, the case study is a fictional MNE, allowing you to apply the OECD Guidelines in practice to cross-border transfers within an MNE, and to discuss the implications of tax-based transfer pricing for responsibility accounting. As a basis for working on the case study....... As a result, tax risk management considerations play a key role in the transfer pricing decisions of MNEs today. This case seeks to provide you with examples of the core principles of international transfer pricing, as well as to allow you to discuss international transfer pricing in the context...

  6. A hybrid model for electricity spot prices

    International Nuclear Information System (INIS)

    Anderson, C.L.D.

    2004-01-01

    Electricity prices were highly regulated prior to the deregulation of the electric power industry. Prices were predictable, allowing generators and wholesalers to calculate their production costs and revenues. With deregulation, electricity has become the most volatile of all commodities. Electricity must be consumed as soon as it is generated due to the inability to store it in any sufficient quantity. Economic uncertainty exists because the supply of electricity cannot shift as quickly as the demand, which is highly variable. When demand increases quickly, the price must respond. Therefore, price spikes occur that are orders of magnitude higher than the base electricity price. This paper presents a robust and realistic model for spot market electricity prices used to manage risk in volatile markets. The model is a hybrid of a top down data driven method commonly used for financial applications, and a bottom up system driven method commonly used in regulated electricity markets. The advantage of the model is that it incorporates primary system drivers and demonstrates their effects on final prices. The 4 primary modules of the model are: (1) a model for forced outages, (2) a model for maintenance outages, (3) an electrical load model, and (4) a price model which combines the results of the previous 3 models. The performance of each model was tested. The forced outage model is the first of its kind to simulate the system on an aggregate basis using Weibull distributions. The overall spot price model was calibrated to, and tested with, data from the electricity market in Pennsylvania, New Jersey and Maryland. The model performed well in simulated market prices and adapted readily to changing system conditions and new electricity markets. This study examined the pricing of derivative contracts on electrical power. It also compared a range of portfolio scenarios using a Cash Flow at Risk approach

  7. A hybrid model for electricity spot prices

    Energy Technology Data Exchange (ETDEWEB)

    Anderson, C.L.D.

    2004-07-01

    Electricity prices were highly regulated prior to the deregulation of the electric power industry. Prices were predictable, allowing generators and wholesalers to calculate their production costs and revenues. With deregulation, electricity has become the most volatile of all commodities. Electricity must be consumed as soon as it is generated due to the inability to store it in any sufficient quantity. Economic uncertainty exists because the supply of electricity cannot shift as quickly as the demand, which is highly variable. When demand increases quickly, the price must respond. Therefore, price spikes occur that are orders of magnitude higher than the base electricity price. This paper presents a robust and realistic model for spot market electricity prices used to manage risk in volatile markets. The model is a hybrid of a top down data driven method commonly used for financial applications, and a bottom up system driven method commonly used in regulated electricity markets. The advantage of the model is that it incorporates primary system drivers and demonstrates their effects on final prices. The 4 primary modules of the model are: (1) a model for forced outages, (2) a model for maintenance outages, (3) an electrical load model, and (4) a price model which combines the results of the previous 3 models. The performance of each model was tested. The forced outage model is the first of its kind to simulate the system on an aggregate basis using Weibull distributions. The overall spot price model was calibrated to, and tested with, data from the electricity market in Pennsylvania, New Jersey and Maryland. The model performed well in simulated market prices and adapted readily to changing system conditions and new electricity markets. This study examined the pricing of derivative contracts on electrical power. It also compared a range of portfolio scenarios using a Cash Flow at Risk approach.

  8. 48 CFR 229.402-1 - Foreign fixed-price contracts.

    Science.gov (United States)

    2010-10-01

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

  9. 48 CFR 16.207 - Firm-fixed-price, level-of-effort term contracts.

    Science.gov (United States)

    2010-10-01

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

  10. A Case Study of Pharmaceutical Pricing in China: Setting the Price for Off-Patent Originators.

    Science.gov (United States)

    Hu, Shanlian; Zhang, Yabing; He, Jiangjiang; Du, Lixia; Xu, Mingfei; Xie, Chunyan; Peng, Ying; Wang, Linan

    2015-08-01

    This article aims to define a value-based approach to pricing and reimbursement for off-patent originators using a multiple criteria decision analysis (MCDA) approach centered on a systematic analysis of current pricing and reimbursement policies in China. A drug price policy review was combined with a quantitative analysis of China's drug purchasing database. Policy preferences were identified through a MCDA performed by interviewing well-known academic experts and industry stakeholders. The study findings indicate that the current Chinese price policy includes cost-based pricing and the establishment of maximum retail prices and premiums for off-patent originators, whereas reference pricing may be adopted in the future. The literature review revealed significant differences in the dissolution profiles between originators and generics; therefore, dissolution profiles need to be improved. Market data analysis showed that the overall price ratio of generics and off-patent originators was around 0.54-0.59 in 2002-2011, with a 40% price difference, on average. Ten differentiating value attributes were identified and MCDA was applied to test the impact of three pricing policy scenarios. With the condition of implementing quality consistency regulations and controls, a reduction in the price gap between high-quality off-patent products (including originator and generics) seemed to be the preferred policy. Patents of many drugs will expire within the next 10 years; thus, pricing will be an issue of importance for off-patent originators and generic alternatives.

  11. Impact of cigarette “price wars” in Ukraine and Moldova

    Directory of Open Access Journals (Sweden)

    Konstantin Krasovsky

    2017-05-01

    The tobacco industry uses “price wars” to keep customers and to press governments to adopt profitable excise rates. Tobacco companies can set price wars as they have right to determine maximum retail selling prices. If a country uses “maximum retail prices” to calculate ad valorem excise, regulations should prohibit downward changes of such prices.

  12. Policy options for alcohol price regulation: the importance of modelling population heterogeneity.

    Science.gov (United States)

    Meier, Petra Sylvia; Purshouse, Robin; Brennan, Alan

    2010-03-01

    Context and aims Internationally, the repertoire of alcohol pricing policies has expanded to include targeted taxation, inflation-linked taxation, taxation based on alcohol-by-volume (ABV), minimum pricing policies (general or targeted), bans of below-cost selling and restricting price-based promotions. Policy makers clearly need to consider how options compare in reducing harms at the population level, but are also required to demonstrate proportionality of their actions, which necessitates a detailed understanding of policy effects on different population subgroups. This paper presents selected findings from a policy appraisal for the UK government and discusses the importance of accounting for population heterogeneity in such analyses. Method We have built a causal, deterministic, epidemiological model which takes account of differential preferences by population subgroups defined by age, gender and level of drinking (moderate, hazardous, harmful). We consider purchasing preferences in terms of the types and volumes of alcoholic beverages, prices paid and the balance between bars, clubs and restaurants as opposed to supermarkets and off-licenses. Results Age, sex and level of drinking fundamentally affect beverage preferences, drinking location, prices paid, price sensitivity and tendency to substitute for other beverage types. Pricing policies vary in their impact on different product types, price points and venues, thus having distinctly different effects on subgroups. Because population subgroups also have substantially different risk profiles for harms, policies are differentially effective in reducing health, crime, work-place absence and unemployment harms. Conclusion Policy appraisals must account for population heterogeneity and complexity if resulting interventions are to be well considered, proportionate, effective and cost-effective.

  13. Speculation on commodities futures markets and destabilization of global food prices: exploring the connections.

    Science.gov (United States)

    Ghosh, Jayati; Heintz, James; Pollin, Robert

    2012-01-01

    In December 2010, the United Nations Food and Agriculture Organization's Food Price Index surpassed its previous peak of June 2008, and prices remained at this level through September 2011. This pattern is creating justified fears of a renewal or intensification of the global food crisis. This paper reviews arguments and evidence to inform debates on how to regulate commodity futures markets in the face of such price volatility and sustained high prices. We focus on the relationship between market liquidity and price patterns in asset markets in general and in commodities futures markets in particular, as well as the relationship between spot and futures market prices for food. We find strong evidence supporting the need to limit huge increases in trading volume on futures markets through regulations. We find that arguments opposing regulation are not supported. We find no support for the claim that liquidity in futures markets stabilizes prices at "fundamental" values or that spot market prices are free of any significant influence from futures markets. Given these results, the most appropriate position for regulators is precautionary: they should enact and enforce policies capable of effectively dampening excessive speculative trading on the commodities markets for food.

  14. PRICE AND PRICING STRATEGIES

    OpenAIRE

    SUCIU Titus

    2013-01-01

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

  15. The extension of the Zeebrugge methane terminal. When regulation goes hand in hand with acceptable pricing and a guaranteed return on investment

    International Nuclear Information System (INIS)

    Possemiers, F.; Jacquet, L.

    2004-01-01

    The article examines the pricing system which makes it possible for Fluxys LNG to carry out the extension of the Zeebrugge methane terminal, increasing its re-gasification capacity from 4.5 to 9 billion cubic meters of natural gas per year. Over the long term, it makes it possible to reconcile what at first glance may seem to be two conflicting interests: providing a guaranteed minimum return for investors while at the same time offering optimal prices for users, all to be achieved subject to the ongoing transparency required by the opening of the gas market to competition. Under this pricing system, a company wishing to carry out a gas investment which is of national or European interest needs to submit a budget and a pricing proposal to the regulator. If these are approved, a 'ceiling' price is set for the use of the investment over the operating period. Before the investment is commissioned, (and subsequently every four years), the prices may be adapted he to take account of variation between the budget on which they have been based and the true costs and income generated. Apart from the fact that this pricing system offers a model framework for all gas projects of national or European interest which will be undertaken in the future in Belgium, it should also form the basis for the expected changes in legislation with regard to prices for the use of transport and distribution networks, both for gas and electricity. (authors)

  16. Prices versus Quantities

    DEFF Research Database (Denmark)

    Hansen, Lars Gårn; Jensen, Frank

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

  17. 48 CFR 15.403-3 - Requiring data other than certified cost or pricing data.

    Science.gov (United States)

    2010-10-01

    ... certified cost or pricing data. 15.403-3 Section 15.403-3 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION CONTRACTING METHODS AND CONTRACT TYPES CONTRACTING BY NEGOTIATION Contract Pricing 15.403-3 Requiring data other than certified cost or pricing data. (a)(1) In those acquisitions that do...

  18. 7 CFR 1955.113 - Price (housing).

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 14 2010-01-01 2009-01-01 true Price (housing). 1955.113 Section 1955.113 Agriculture Regulations of the Department of Agriculture (Continued) RURAL HOUSING SERVICE, RURAL BUSINESS-COOPERATIVE... REGULATIONS (CONTINUED) PROPERTY MANAGEMENT Disposal of Inventory Property Rural Housing (rh) Real Property...

  19. Estimating the volatility of electricity prices: The case of the England and Wales wholesale electricity market

    International Nuclear Information System (INIS)

    Tashpulatov, Sherzod N.

    2013-01-01

    Price fluctuations that partially comove with demand are a specific feature inherent to liberalized electricity markets. The regulatory authority in Great Britain, however, believed that sometimes electricity prices were significantly higher than what was expected and, therefore, introduced price-cap regulation and divestment series. In this study, I analyze how the introduced institutional changes and regulatory reforms affected the dynamics of daily electricity prices in the England and Wales wholesale electricity market during 1990–2001. This research finds that the introduction of price-cap regulation did achieve the goal of lowering the price level at the cost of higher price volatility. Later, the first series of divestments is found to be successful at lowering price volatility, which however happens at the cost of a higher price level. Finally, this study also documents that the second series of divestments was more successful at lowering both the price level and volatility. - Author-Highlights: • The impact of regulation on the dynamics of electricity prices is examined. • Price-cap regulation has decreased the level at the cost of higher volatility. • The first series of divestments has reversed the trade-off. • The reversed trade-off is explained as an indication of tacit collusion. • The second series of divestments is found generally successful

  20. 7 CFR 3019.45 - Cost and price analysis.

    Science.gov (United States)

    2010-01-01

    ... Agriculture Regulations of the Department of Agriculture (Continued) OFFICE OF THE CHIEF FINANCIAL OFFICER, DEPARTMENT OF AGRICULTURE UNIFORM ADMINISTRATIVE REQUIREMENTS FOR GRANTS AND AGREEMENTS WITH INSTITUTIONS OF... accomplished in various ways, including the comparison of price quotations submitted, market prices and similar...

  1. Pharmaceutical pricing: an empirical study of market competition in Chinese hospitals.

    Science.gov (United States)

    Wu, Jing; Xu, Judy; Liu, Gordon; Wu, Jiuhong

    2014-03-01

    High pharmaceutical prices and over-prescribing of high-priced pharmaceuticals in Chinese hospitals has long been criticized. Although policy makers have tried to address these issues, they have not yet found an effective balance between government regulation and market forces. Our objective was to explore the impact of market competition on pharmaceutical pricing under Chinese government regulation. Data from 11 public tertiary hospitals in three cities in China from 2002 to 2005 were used to explore the effect of generic and therapeutic competition on prices of antibiotics and cardiovascular products. A quasi-hedonic regression model was employed to estimate the impact of competition. The inputs to our model were specific attributes of the products and manufacturers, with the exception of competition variables. Our results suggest that pharmaceutical prices are inversely related to the number of generic and therapeutic competitors, but positively related to the number of therapeutic classes. In addition, the product prices of leading local manufacturers are not only significantly lower than those of global manufacturers, but are also lower than their non-leading counterparts when other product attributes are controlled for. Under the highly price-regulated market in China, competition from generic and therapeutic competitors did decrease pharmaceutical prices. Further research is needed to explore whether this competition increases consumer welfare in China's healthcare setting.

  2. 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

  3. Prices and Price Setting

    NARCIS (Netherlands)

    R.P. Faber (Riemer)

    2010-01-01

    textabstractThis thesis studies price data and tries to unravel the underlying economic processes of why firms have chosen these prices. It focuses on three aspects of price setting. First, it studies whether the existence of a suggested price has a coordinating effect on the prices of firms.

  4. [Policies encouraging price competition in the generic drug market: Lessons from the European experience].

    Science.gov (United States)

    Puig-Junoy, Jaume

    2010-01-01

    To describe alternative policies aimed at encouraging price competition in generic drug markets in countries with strict price regulation, and to present some case studies drawn from the European experience. Systematic literature review of articles and technical reports published after 1999. The shortcomings in consumer price competition observed in some European generic markets, including Spain, may be reduced through three types of public reimbursement or financing reforms: policies aimed at improving the design of current maximum reimbursement level policies; policies aimed at monitoring competitive prices in order to reimburse real acquisition cost to pharmacies; and, more radical and market-oriented policies such as competitive tendering of public drug purchases. The experience of recent reforms adopted in Germany, Belgium, Holland, Norway, and Sweden offers a useful guide for highly price-regulated European countries, such as Spain, currently characterized by limited consumer price competition and the high discounts offered to pharmacy purchases. Direct price regulation and/or the generic reference pricing systems used to reduce generic drug prices in many European countries can be successfully reformed by adopting measures more closely aimed at encouraging consumer price competition in generic drug markets. Copyright 2009 SESPAS. Published by Elsevier Espana. All rights reserved.

  5. Electric power transmission pricing regulations and efficiency

    International Nuclear Information System (INIS)

    Goldoni, G.

    1999-01-01

    An efficient-price mechanism for electricity transmission is very hard to find, essentially because of the natural monopoly condition of the grid and its peculiar interactions with generation. The use of Optimal Power Flow Models is difficult to implement and could be easily distorted by strategical behaviour of generators. These models, however, could became a valuable efficiency-test for actual transmission charges and codes [it

  6. Experimental Evidence on Transfer Pricing

    Directory of Open Access Journals (Sweden)

    Tran Quoc H.

    2016-06-01

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

  7. Price regulation to remove EE-DSM disincentives and pressure for increased energy sales in monopoly segments of restructured electricity and gas markets: the multiple drivers target (MDT) tariff scheme

    International Nuclear Information System (INIS)

    Pagliano, L.; Alari, P.; Ruggieri, G.; Irrek, W.; Thomas, S.; Leprich, U.

    2002-01-01

    Even in restructured markets a part of the energy business remains a monopoly and should be correctly regulated. We present an analysis which reveals common structures in schemes enacted in UK, Norway, Portugal and recently (on the basis of this study) in Italy. The identified structure, which we named Multiple Driver Target (MDT) regulation is a performance-based regulation scheme, which provides incentives for greater economic efficiency, without creating biases against environmental efficiency. The method relies on a statistical analysis of the correlation of utility costs and a few 'cost drivers' (e.g. number of customers served, grid length, sold or transported energy). We discuss how MDT can be used to set price levels and price changes in the regulatory period in such a way to correctly match the evolution of costs and avoid awarding unwanted signals to utilities. At the opposite, pure Price Cap regulation provides artificial incentives to utilities to increase energy sales (even if this is not economic for the customers nor for society ) beyond the predicted levels foreseen in the price fixing Rate Cases. We show that Under MDT regulation the reduction in profits due to reduced sales as a consequence of DSM is minimised. In so doing this procedure removes the most important disincentive for utilities to implement DSM programmes since lost profits due to reduced sales can be substantially higher than direct costs of DSM programmes; once MDT regulation is in place, also these direct costs can be recovered through a small part of the tariff. We also discuss how MDT can be implemented with a moderate effort by regulatory authorities. (author)

  8. POSTKAPİTALİST DÖNEMDE KÜRESEL MARKALARIN YENİ PAZARLAMA STRATEJİSİ: KİTLELERİN YENİ YAŞAM KOÇU OLARAK COCA COLA

    OpenAIRE

    SEVİM, Bilgen

    2018-01-01

    2000’li yıllarda küresel ölçekli markaların reklam söyleminde büyük bir dönüşüm yaşanmıştır. Bu markalar, “sevgi”, “umut”, “mutluluk”, “yardımseverlik”, “aşk” ve “barış” gibi kavramları kullanarak yaşamın anlamına dair mesajlar vermeye başlamışlardır. Interbrand’ın raporuna göre, 2012 yılında dünyanın en değerli markası seçilen Coca Cola’nın Türkiye için hazırladığı Yeni yıl, Yeni Umutlar (2012), Bimilyonneden Yeni Yıl (2012), Güvenlik Kameraları (2012), Daha İyi Bir Yıl (2013) Yeni Yıla Yaln...

  9. Price volatility in wind dominant electricity markets

    DEFF Research Database (Denmark)

    Farashbashi-Astaneh, Seyed-Mostafa; Chen, Zhe

    2013-01-01

    High penetration of intermittent renewable energy sources causes price volatility in future electricity markets. This is specially the case in European countries that plan high penetration levels. This highlights the necessity for revising market regulations and mechanisms in accordance...... to generation combination portfolio. Proposed solutions should be able to tackle with emerging challenges which are mainly due to high variability and unpredictability of intermittent renewable resources. In this paper high price volatility will be introduced as an emerging challenge in wind dominant...... electricity markets. High price volatility is unappreciated because it imposes high financial risk levels to both electricity consumers and producers. Additionally high price variations impede tracking price signals by consumers in future smart grid and jeopardize implementation of demand response concepts...

  10. THE CONCEPT OF TRANSFER PRICING SYSTEM IN RUSSIAN FEDERATION

    Directory of Open Access Journals (Sweden)

    Alexey S. Besfamilnyy

    2016-01-01

    Full Text Available The article presents the author's denition of transfer prices and transfer pricing based on the analysis of the current legislation in Russia as well as on current economic practice. Considered state regulation of transfer pricing for the purpose of harmonization of relationship between government and business. Given the denition of the transfer pricing system in Russian Federation and the description of its main parts and connections between them, necessary for effective functioning.

  11. 78 FR 12318 - Federal Acquisition Regulation; Submission for OMB Review; Economic Price Adjustment

    Science.gov (United States)

    2013-02-22

    ...; Submission for OMB Review; Economic Price Adjustment AGENCY: Department of Defense (DOD), General Services... economic price adjustment. A notice was published in the Federal Register at 77 FR 69442, on November 19...: Submit comments identified by Information Collection 9000- 0068, Economic Price Adjustment by any of the...

  12. United Kingdom: 'competition can force prices up'

    International Nuclear Information System (INIS)

    Powe, I.

    1992-01-01

    The increased demand for natural gas and price considerations are examined. The recent undertaking of British Gas to place storage and transmission in a separate regulated division with transparent accounts is reported, and the possible rise in the price of gas when British Gas has to pay commercial rates to the separate division is considered. (UK)

  13. The pricing relevance of insider information; Die Preiserheblichkeit von Insiderinformationen

    Energy Technology Data Exchange (ETDEWEB)

    Kruse, Dominik

    2011-07-01

    The publication attempts to describe the so far discussion concerning the feature of pricing relevance and to develop it further with the aid of new research approaches. First, a theoretical outline is presented of the elementary regulation problem of insider trading, its historical development, and the regulation goals of the WpHG. This is followed by an analysis of the concrete specifications of the law. In view of the exemplarity of US law, a country with long experience in regulation of the capital market, the materiality doctrine of US insider law is gone into in some detail. The goals and development of the doctrine are reviewed in the light of court rulings. The third part outlines the requirements of German law in order to forecast the pricing relevance of insider information, while the final part presents a critical review of the current regulations on pricing relevance. (orig./RHM)

  14. 48 CFR 970.1504-3-1 - Cost or pricing data.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 5 2010-10-01 2010-10-01 false Cost or pricing data. 970... pricing data. (a) The certification requirements of 48 CFR 15.406-2 are not applied to DOE cost... operating contractors and their subcontractors obtain cost or pricing data prior to the award of a...

  15. 48 CFR 514.270-7 - Guidelines for using the price list method.

    Science.gov (United States)

    2010-10-01

    ... on knowledge of the supplies or services and previous contract prices. (d) First time use for an item... price list method. 514.270-7 Section 514.270-7 Federal Acquisition Regulations System GENERAL SERVICES... for using the price list method. (a) General. The price list method helps avoid unbalanced bidding...

  16. 7 CFR 1000.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Class prices, component prices, and advanced pricing... advanced pricing factors. Class prices per hundredweight of milk containing 3.5 percent butterfat, component prices, and advanced pricing factors shall be as follows. The prices and pricing factors described...

  17. Strategic pricing of grid access under partial price-caps. Electricity distribution in England and Wales

    International Nuclear Information System (INIS)

    Riechmann, C.

    2000-01-01

    It is perceived in public debate that monopolistic network operators (who are vertically integrated into competitively organised activities) would raise excessive access charges to derail competition by newcomers. Economic reasoning, however, suggests that the level of access charges is, at least in a simple setting, irrelevant for the intensity of entry by newcomers. In a setting where access charges are price-cap regulated, theoretical considerations and empirical findings for the case of electricity distribution in England and Wales even suggest that inefficiently high access charges correspond with intense market entry. Efficiency concerns remain, nonetheless. If regulated by a practicable partial price-cap, the network operator may enforce monopolistic access charges in certain market segments. Access charges in other segments may be lowered strategically and may even be cross-subsidised. 36 refs

  18. Risk Pricing and Profit Maximization of Insurance Companies ...

    African Journals Online (AJOL)

    The research investigates the impact of pricing of risk on the profitability of Nigeria insurance market and also the relationship between operation expenses and profitability of the non-life insurance market in Nigeria. Results show that economy, competition and government regulation have effect on pricing of risk. Also, it was ...

  19. 24 CFR 235.320 - Limitation of sales price.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Limitation of sales price. 235.320 Section 235.320 Housing and Urban Development Regulations Relating to Housing and Urban Development... Payments-Homes for Lower Income Families § 235.320 Limitation of sales price. To qualify for assistance...

  20. Tax Anti-avoidance Through Transfer Pricing

    DEFF Research Database (Denmark)

    Rossing, Christian Plesner; Riise Johansen, Thomas; Pearson, Thomas C.

    2016-01-01

    -driven discipline to be dealt with by accounting and tax experts. Instead, MNEs face the task of establishing a complex fit with their environment beyond the typical stakeholders with transfer pricing, i.e. tax authorities. These include government officials, tax activists, and consumers who voice......This paper examines the case of Starbucks’ UK branch, which became subject to massive public criticism over alleged tax avoidance. Despite Starbucks arguing that its transfer pricing practices were in full compliance with regulatory requirements, public pressure for higher corporate tax payments...... led Starbucks to increase its UK tax payment on transfer pricing income beyond regulatory requirements. This case study suggests that MNE tax behavior on international transfer pricing is not strictly a matter of compliance with formal tax regulation. We demonstrate the way an MNE attempts to re...

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

    NARCIS (Netherlands)

    Poort, J.; van Eijk, N.

    2017-01-01

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

  2. 48 CFR 52.215-12 - Subcontractor Certified Cost or Pricing Data.

    Science.gov (United States)

    2010-10-01

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

  3. 78 FR 37690 - Federal Acquisition Regulation; Price Analysis Techniques

    Science.gov (United States)

    2013-06-21

    ... that a price is fair and reasonable. 3. The Promotion of Competition Comment: One respondent believed..., distributive impacts, and equity). E.O. 13563 emphasizes the importance of quantifying both costs and benefits...

  4. PRICE DISCRIMINATION AND MARKET POWER: A THEORETICAL ANALYSIS

    Directory of Open Access Journals (Sweden)

    Olga Smirnova

    2015-07-01

    Full Text Available This paper analyzes the contemporary theoretical and empirical research in the field of impact assessment of market power and conclusions about the possibilities of the company to implement price discrimination in different market structures. The results of the analysis allow to evaluate current approaches to antitrust regulation of price discrimination.

  5. Applicability of the ''review of content'' under the law on standard terms and conditions to power availability and power supply contracts between producers and resellers; Die Anwendbarkeit der AGB-rechtlichen Inhaltskontrolle auf Leistungsvorhaltungs- und Stromliefervertraege zwischen Erzeuger und Weiterverkaeufer

    Energy Technology Data Exchange (ETDEWEB)

    Putzka, Florian

    2009-07-01

    This study deals with the applicability under the law on standard terms and conditions of the ''review of content'' to power availability and power supply contracts between producers and resellers. It addresses fundamental issues concerning the encroachment on the private autonomy of those involved as well as the hazard to the contract certainty of their contracts that is posed by the instrument of judicial review of content under the law on standard terms and conditions. The purpose of the study is to determine to what extent power availability and power supply contracts between producers and resellers are subject to a review of content by a civil judge, be it on the strength of the law on standard terms and conditions or through what is known as an extended review of content. Power supply contracts between power suppliers and final customers are left out of consideration here, even though the authors are aware of the fact that as a result of the amendment to the Energy Economy Law in 2005 and the ordinances following in its wake it is becoming more and more common for such contracts to be amenable to the law on standard terms and conditions.

  6. No 3071. Resolution proposal aiming at creating an inquiry commission on the pricing conditions on the power market, and on their consequences for companies and consumers and on the necessity to implement regulation mechanisms

    International Nuclear Information System (INIS)

    Brottes, F.; Ayrault, J.M.; Bataille, Ch.; Ducout, P.; Emmanuelli, H.; Migaud, D.; Besson, E.; Bonrepaux, A.; Dumont, J.L.; Balligand, J.P.

    2006-05-01

    Electricite de France (EdF), the French electric utility, announced on December 15, 2004 a rise of electricity prices and tariffs in order to finance EDF's development policy. About a year later, the electricity prices rise was much higher than expected and not justified neither by the financial health of the company, nor by any other particular reason. The only reason seems to be the classical logic that follows the privatization of any historical power operator: opening of the capital, reduction of manpower, and increase of prices. This document wonders about: the impact of prices rise on power consuming companies and on individual end-users, the real role of the commission of energy regulation (CRE) and on the reality of an energy market regulation. (J.S.)

  7. BUDGET NORMALIZATION AND PRICING FEATURES IN CONSTRUCTION

    Directory of Open Access Journals (Sweden)

    M. I. Gadzhieva

    2016-01-01

    Full Text Available It is proved that the pricing of the construction is different from the pricing system in the industry and other branches of economy, because it has different methodological and organizational approaches. It has been determined that the cost of construction is set on the stage of its design, in the process of concluding investment contracts (construction contracts, as well as directly during construction, major repairs of objects of capital construction, reconstruction and the implementation of certain types of construction and installation works. It has been found that the pricing mechanism in construction is based on the detailed legal and reference documents regulating material consumption rates and prices, taking into account sectoral, territorial and seasonal features of building production. It has been found that under inflation conditions the price index calculation of construction products for investment purposes is of great importance. Mandatory approval of all stakeholders of the construction production method for determining the price of the construction site is proposed.

  8. Carbon price volatility: Evidence from EU ETS

    International Nuclear Information System (INIS)

    Feng, Zhen-Hua; Zou, Le-Le; Wei, Yi-Ming

    2011-01-01

    This paper examines carbon price volatility using data from the European Union Emission Trading Scheme from a nonlinear dynamics point of view. First, we use a random walk model, including serial correlation and variance ratio tests, to determine whether carbon price history information is fully reflected in current carbon price. The empirical research results show that carbon price is not a random walk: the price history information is not fully reflected in current carbon price. Second, use R/S, modified R/S and ARFIMA to analyse the memory of carbon price history. For the period April 2005-December 2008, the modified Hurst index of the carbon price is 0.4859 and the d value of ARFIMA is -0.1191, indicating short-term memory of the carbon price. Third, we use chaos theory to analyse the influence of the carbon market internal mechanism on carbon price, i.e., the market's positive and negative feedback mechanism and the heterogeneous environment. Chaos theory proves that the correlation dimension of carbon price increases. The maximal Lyapunov exponent is positive and large. There is no obvious complex endogenous phenomenon of nonlinear dynamics the carbon price fluctuation. The carbon market is mildly chaotic, showing both market and fractal market characteristics. Price fluctuation is not only influenced by the internal market mechanism, but is also impacted by the heterogeneous environment. Finally, we provide suggestions for regulation and development of carbon market.

  9. 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

  10. 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.

  11. 78 FR 5446 - Federal Acquisition Regulation; Submission for OMB Review; Price Redetermination

    Science.gov (United States)

    2013-01-25

    ... the fundamental purposes of the Paperwork Reduction Act because of the burden it puts on the entity... onerous, and will require a contractor to implement accounting systems that are equipped to account for...-price contract with prospective price redetermination would have accounting systems that allow for...

  12. 48 CFR 5252.215-9000 - Submission of cost or pricing data.

    Science.gov (United States)

    2010-10-01

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

  13. Gasoline prices and the public interest

    International Nuclear Information System (INIS)

    1997-12-01

    The concerns that have been raised about gasoline prices in Newfoundland were addressed and the reasons why they differ significantly from one part of Newfoundland to another were examined. A research and investigation program was established to identify the factors contributing to the price of, and price variation in gasoline sold in the province. Companies directly involved in the gasoline retail business in the province were invited to answer an extensive questionnaire which asked detailed, confidential information concerning the company's operations. This report contains the results of the analysis of the responses, and provides a comprehensive picture of the operation of the petroleum industry. It also contains a series of recommendations for the government with respect to monitoring price fluctuations, gathering data about the industry, and constructing an independently owned and operated terminal storage facility. The report recommends against direct regulation. tabs., figs

  14. Transfer Pricing in the European Union

    Directory of Open Access Journals (Sweden)

    Gheorghe MATEI

    2011-04-01

    Full Text Available The transfer pricing mechanism is a tool commonly used to transfer the tax base from countries with high taxation in countries with low taxation. In the European Union, this financial operations generate significant tax revenue losses. In an attempt to limit the handling of corporate tax systems, many public authorities have introduced regulations on transfer pricing, but the effectiveness of these rules has proved limited, and they contributed to the increasing complexity of tax laws and to the appearance of additional costs for companies. A solution to the solving of the transfer pricing problem in the European Union is represented by the introduction of the common consolidated corporate tax base.

  15. The case for indexed price caps for U.S. electric utilities

    International Nuclear Information System (INIS)

    Lowry, M.N.

    1991-01-01

    Indexed price caps are a promising alternative to traditional, cost-of-service utility rate regulation. In just a decade, they have sprung from the drawing boards of economists to use by major utilities in a number of industries. Several authors have discussed the merits of indexed price caps for U.S. electric utilities. Despite their efforts, many parties to electric utility policy making are unfamiliar with the subject. This is unsurprising given the policy controversies that already embroil the industry. It is also unfortunate, since indexed price caps may help solve some of the problems that prompt these controversies. Indexed price caps can improve electric utility rate regulation in two ways. Utilities would have strong incentives to improve performance without the micromanagement that increasingly characterizes state-level regulation. Utilities could also be granted more extensive marketing freedoms, since indexes can protect customers from cross-subsidization. Two areas of concern about indexed price cap plans have emerged in recent discussions that the author has held with officials of electric utilities, intervenor groups, and regulatory agencies. Officials are often unclear on plan details, and therefore may not appreciate the degree of flexibility that is possible in plan design. Confusion over the available options in price cap adjustment indexes and the logic behind them is especially widespread. Officials also desire a clearer expression of how indexed price caps can coexist with current regulatory initiatives. This article details the major attributes of index plans, provides a brief history of indexing, discusses index design options in depth, and concludes with a vision of how indexed price caps can be made operational in today's electric utility industry

  16. Alcohol price elasticities in control and license states in the United States, 1982-99.

    Science.gov (United States)

    Trolldal, Björn; Ponicki, William

    2005-08-01

    The demand for alcohol has been demonstrated repeatedly to be sensitive to price changes. However, estimated price elasticities vary by study region and over time. One explanation for these variations might be that different countries or parts of countries have had different alcohol control systems. The hypothesis addressed in this study was that a regulated market leads to higher transaction costs associated with purchasing alcohol, which in turn increases the full price of the beverages (the nominal cash price plus transaction costs). As a result, the cash price of alcohol represents a smaller part of the full price in a highly regulated market. Assuming that customers respond primarily to changes in full price, the demand for alcohol should be less sensitive to changes in cash price where regulation is stricter. This study examined whether variations in price elasticities were a function of the different regulatory systems in control and license states in the United States during the period 1982-99. Time-series cross-sectional analyses (in 50 states over 18 years) were conducted. Elasticities were estimated using a multiplicative model based upon first-differences of time-series within states. Disposable income and other socio-demographic variables were used as control variables. All data were obtained from archival sources. The demand for spirits and beer were significantly more sensitive to price changes in license states than in control states. The estimated price elasticity for wine sales was also somewhat larger in license states, but not significantly so. The lower price elasticities for spirits and beer in the control states support the hypothesis that customers respond primarily to changes in the full price of alcohol.

  17. Natural gas pricing: concepts and international overview

    Energy Technology Data Exchange (ETDEWEB)

    Gorodicht, Daniel Monnerat [Gas Energy, Rio de Janeiro, RJ (Brazil); Veloso, Luciano de Gusmao; Fidelis, Marco Antonio Barbosa; Mathias, Melissa Cristina Pinto Pires [Agencia Nacional do Petroleo, Gas Natural e Biocombustiveis (ANP), Rio de Janeiro, RJ (Brazil)

    2012-07-01

    The core of this article is a critical analysis of different forms of pricing of natural gas existing in the world today. This paper is to describe the various scenarios of natural gas price formation models. Along the paper, the context is emphasized by considering their cases of applications and their results. Today, basically, there are three main groups of models for natural gas pricing: i) competition gas-on-gas, i.e., a liberalized natural gas market, II) gas indexed to oil prices or its products and III) bilateral monopolies and regulated prices. All the three groups of models have relevant application worldwide. Moreover, those are under dynamic influence of economic, technological and sociopolitical factors which bring complexity to the many existing scenarios. However, at first this paper builds a critical analysis of the international current situation of natural gas today and its economic relevance. (author)

  18. Future prices and market for SO2 allowances

    International Nuclear Information System (INIS)

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

    1993-01-01

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

  19. 48 CFR 1415.406-70 - Department of the Interior price negotiation memorandum (PNM).

    Science.gov (United States)

    2010-10-01

    ... price negotiation memorandum (PNM). 1415.406-70 Section 1415.406-70 Federal Acquisition Regulations System DEPARTMENT OF THE INTERIOR CONTRACTING METHODS AND CONTRACT TYPES CONTRACTING BY NEGOTIATION Contract Pricing 1415.406-70 Department of the Interior price negotiation memorandum (PNM). (a) Policy. In...

  20. 26 CFR 1.925(a)-1T - Temporary regulations; transfer pricing rules for FSCs.

    Science.gov (United States)

    2010-04-01

    ... the FSC) by its choice of the three transfer pricing methods described in paragraphs (c)(2), (3), and... income method (the administrative pricing rules) of section 925(a)(1) and (2), respectively, and the...), any, or all, of the transfer pricing methods may be used in the same taxable year of the FSC for...

  1. 48 CFR 552.216-71 - Economic Price Adjustment-Special Order Program Contracts.

    Science.gov (United States)

    2010-10-01

    ... updated index, the Contractor shall have waived its right to an upward price adjustment for the balance of... Contractors shall have waived its right to an upward price adjustment for that option period. Alternatively... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Economic Price Adjustment...

  2. Electricity prices in a competitive market: a preliminary analysis of the deregulated Thai electricity industry

    International Nuclear Information System (INIS)

    Pipattanasomporn, M.; Ongsakul, W.; Pacudan, R.; Lefevre, T.

    2000-01-01

    The electricity industry throughout the world is currently undergoing a significant transition towards restructuring and deregulation. Following this new legislation, Thailand has initiated an institutional and structural reform with a belief that this could be the best way forward for the Thai electricity supply industry (ESI) to improve efficiency, lower electricity prices, and tackle financial debts. This paper presents an analysis of the extent to which prices for generation services in a competitive market may differ from regulated electricity prices, if competitive prices are based on marginal costs and regulated prices are based on average costs, by using Thailand as a case study. (Author)

  3. Energy effects associated with e-commerce: a case-study concerning online sales of personal computers in the Netherlands

    International Nuclear Information System (INIS)

    Reijnders, L.; Hoogeveen, N.J.

    2001-01-01

    The introduction of e-commerce is changing purchase and distribution patterns dramatically. One of the observed effects is that logistics become more efficient as products are directly shipped from a manufacturer or wholesaler to an end-user. Another effect is that market transparency increases, which has a downward pressure on prices of many products sold via the Internet. This article addresses the energy implications of e-commerce at the micro level. This is done by quantifying the transport related energy savings in the case of a Dutch online computer reseller and by assessing the extra energy expenditure associated with increased buying power of online buyers. It is found that energy use per article sold by the online computer reseller is lower. However, taking into account indirect effects such as increased consumer buying power, there are scenarios that lead to an overall increase in energy use. (Author)

  4. Energy effects associated with e-commerce: a case-study concerning online sales of personal computers in The Netherlands.

    Science.gov (United States)

    Reijnders, L; Hoogeveen, M J

    2001-07-01

    The introduction of e-commerce is changing purchase and distribution patterns dramatically. One of the observed effects is that logistics become more efficient as products are directly shipped from a manufacturer or wholesaler to an end-user. Another effect is that market transparency increases, which has a downward pressure on prices of many products sold via the Internet. This article addresses the energy implications of e-commerce at the micro level. This is done by quantifying the transport related energy savings in the case of a Dutch online computer reseller and by assessing the extra energy expenditure associated with increased buying power of online buyers. It is found that energy use per article sold by the online computer reseller is lower. However, taking into account indirect effects such as increased consumer buying power, there are scenarios that lead to an overall increase in energy use.

  5. Energy effects associated with e-commerce: a case-study concerning online sales of personal computers in the Netherlands

    Energy Technology Data Exchange (ETDEWEB)

    Reijnders, L.; Hoogeveen, N.J. [Open University Netherlands, Heerlen (Netherlands)

    2001-07-01

    The introduction of e-commerce is changing purchase and distribution patterns dramatically. One of the observed effects is that logistics become more efficient as products are directly shipped from a manufacturer or wholesaler to an end-user. Another effect is that market transparency increases, which has a downward pressure on prices of many products sold via the Internet. This article addresses the energy implications of e-commerce at the micro level. This is done by quantifying the transport related energy savings in the case of a Dutch online computer reseller and by assessing the extra energy expenditure associated with increased buying power of online buyers. It is found that energy use per article sold by the online computer reseller is lower. However, taking into account indirect effects such as increased consumer buying power, there are scenarios that lead to an overall increase in energy use. (Author)

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

    International Nuclear Information System (INIS)

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

    2008-01-01

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

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

    Science.gov (United States)

    2010-10-01

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

  8. A trend discontinuity: The mystery of natural gas prices

    International Nuclear Information System (INIS)

    Steffes, D.W.

    1995-01-01

    For the last fifteen years, the natural gas price forecasting experts have had a terrible record of forecasting future natural gas prices. (In the early 80's, the gas price was forecasted to be over $10/MMBtu in the late 80's). To make matters even worse, they can't seem to understand why the price is what it is, even in hindsight. If these experts can't even get it right in hindsight, how can one ever expect to get it right in foresight? It is concluded that the traditional laws of supply and demand don't work very well in this new quasi-regulated natural gas industry. Evidently, Social Influences and Political Influences are more important than the Economic Influence on natural gas prices

  9. Pharmaceutical pricing in Japan: market evidence for rheumatoid arthritis treatment.

    Science.gov (United States)

    Mahlich, Jörg; Kamae, Isao; Sruamsiri, Rosarin

    2018-06-01

    Drug price setting is one of the key challenges faced by the Japanese health care system. This study aims to identify the determinants of drug price in Japan using the example of the rheumatoid arthritis (RA) treatment market. In order to compare prices across different products, we calculated prices per defined daily dose using WHO methodology. Price determinants were calculated both at launch and over time using IMS quarterly data on medicines approved for RA treatment in Japan from 2012 to 2015. Pharmaceutical pricing was modeled as a function of clinical and economic variables using regression analysis. For prices at the launch we found that differences in efficacy are not reflected in price differentials. We also report that the number of products within a molecule class had a negative effect on prices while originator drugs maintained higher prices. Although the existing pricing rules in Japan are very comprehensive they do not necessarily capture differences in product characteristics. The findings here support the notion that competitive forces are weak in highly regulated markets such as Japan.

  10. Structural change and forecasting long-run energy prices

    International Nuclear Information System (INIS)

    Bernard, J.T.; Khalaf, L.

    2004-01-01

    Fluctuating energy prices have a significant impact on the economies of industrialized nations. A recent study has shown a strong non-linear relationship between changes in oil prices and growth in gross domestic product (GDP). In order to forecast the behaviour of energy prices, a complete model must take into account domestic and international supply and demand conditions, market regulations, technological advances and geopolitics. In 1999, Pindyck suggested that for long-term forecasting, a simple model should be adopted where prices grow in real terms and at a fixed rate. This paper tests the statistical significance of Pindyck's suggested class of econometric equations that model the behaviour of long-run real energy prices. The models assume mean-reverting prices with continuous and random changes in their level and trend. They are estimated using Kalman filtering. The authors used simulation-based procedures to address the issue of non-standard test statistics and nuisance parameters. Results were reported for a standard Monte Carlo test and a maximized Monte Carlo test. Results shown statistically significant instabilities for coal and natural gas prices, but not for crude oil prices. Various models were differentiated using out-of-sample forecasting exercises. 25 refs., 3 tabs

  11. Reserve price: Lessons learned from Brazilian electricity procurement auctions

    International Nuclear Information System (INIS)

    Rego, Erik Eduardo

    2013-01-01

    Auctions have been used in several formats in the electric energy industry. In general, regulators may be uncomfortable initiating a reverse auction at a higher-than-expected final price, fearing that participants may sell their energy at an excess profitability. Nevertheless, evidence from electricity procurement auctions conducted in Brazil supports the findings that these types of auctions have the opposite effect. By attracting a larger number of agents, these auctions can trigger stronger competition and lead to lower settlement pricing. Accordingly, the Brazilian cases examined in this article present significant evidence to support this directional theory. In fact, there are some cases of electricity procurement auctions that show that inadequate auction reserve pricing leads to inefficient outcomes and may also cause the auction to fail. On the other hand, auctions with adequate price caps have led to lower final clearing prices, thus contributing to reasonable final energy pricing. - Highlights: • Outcomes from Brazilian electricity procurement auctions were analyzed. • Cases of success and frustration after adopting (in)adequate reserve prices. • Setting different price caps per source is inefficient. • Higher-than-normal price cap is more effective than fine-tuning reserve prices

  12. Reducing greenhouse gas emissions: a duopoly market pricing competition and cooperation under the carbon emissions cap.

    Science.gov (United States)

    Jian, Ming; He, Hua; Ma, Changsong; Wu, Yan; Yang, Hao

    2017-05-17

    This article studies the price competition and cooperation in a duopoly that is subjected to carbon emissions cap. The study assumes that in a departure from the classical Bertrand game, there is still a market for both firms' goods regardless of the product price, even though production capacity is limited by carbon emissions regulation. Through the decentralized decision making of both firms under perfect information, the results are unstable. The firm with the lower maximum production capacity under carbon emissions regulation and the firm with the higher maximum production capacity both seek market price cooperation. By designing an internal carbon credits trading mechanism, we can ensure that the production capacity of the firm with the higher maximum production capacity under carbon emissions regulation reaches price equilibrium. Also, the negotiation power of the duopoly would affect the price equilibrium.

  13. 48 CFR 52.216-16 - Incentive Price Revision-Firm Target.

    Science.gov (United States)

    2010-10-01

    ...-Firm Target. 52.216-16 Section 52.216-16 Federal Acquisition Regulations System FEDERAL ACQUISITION... Clauses 52.216-16 Incentive Price Revision—Firm Target. As prescribed in 16.406(a), insert the following clause: Incentive Price Revision—Firm Target (OCT 1997) (a) General. The supplies or services identified...

  14. A Study on strengthening demand management of energy price

    Energy Technology Data Exchange (ETDEWEB)

    Seo, Jung Hwan [Korea Energy Economics Institute, Euiwang (Korea)

    1999-02-01

    Until 1980s, energy sector had been operated as a monopoly of public enterprises in most countries. Price regulation of government had an influence on energy supply and demand by not fully giving information on market situation (supply and demand). Recently, as energy related technology and information technology have developed, the developed countries including UK and some developing countries could raise efficiency of industry through competitive market by recognizing the limit of government regulation and opening up many sectors of energy industry to the private sector. Korea is also implementing a measure for introducing competition through the participation of private sector into electricity and natural gas industries step by step. If the private sector is participated and competition is introduced, energy price cannot be a policy instrument setting up by the government, so demand management through price regulation is meaningless. Under such circumstances, a policy function should be converted to the direction of promoting competition and increasing market efficiency. In this study, it examines how the government regulation and industry has been changed through the transition of natural gas and electricity industries in UK, USA, and France and then it tries to derive suggestions to Korea. (author). 49 refs., 58 figs., 32 tabs.

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

    International Nuclear Information System (INIS)

    Kynev, K.

    1994-01-01

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

  16. Natural gas supply strategies for European energy market actors

    International Nuclear Information System (INIS)

    Girault, Vincent

    2007-06-01

    The liberalization of the European energy markets leads to the diversification of supplies. Hence, we analyse the natural gas importation problem in a power producer point of view. Upstream and downstream natural gas markets are concentrated. In this oligopoly context, our topic is to focus on strategies which modify natural gas sourcing price. This by studying the surplus sharing on the natural gas chain. A European firm can bundle gas and electricity outputs to increase its market share. Therefore, a bundling strategy of a power producer in competition with a natural gas reseller on the final European energy market increases upstream natural gas price. Bundling also acts as a raising rival cost strategy and reduces the rivals' profit. Profits opportunities incite natural gas producers to enter the final market. Vertical integration between a natural gas producer and a European gas reseller is a way, for producers, to catch end consumer surplus. Vertical integration results in the foreclosure of the power producer on the upstream natural gas market. To be active on the natural gas market, the power producer could supply bundles. But, this strategy reallocates the rent. The integrated firm on natural gas gets the rent of electricity market in expenses of the power producer. Then, a solution for the power producer is to supply gas and electricity as complements. Then, we consider a case where vertical integration is not allowed. Input price discrimination by a monopolist leads to a lower natural gas price for the actor which diversifies its supplying sources. Furthermore, a bundling strategy increases the gap between the price proposed to the firm which also diversify its output and the firm which is fully dependent from the producer to supply natural gas on final market. (author)

  17. Pricing local distribution services in a competitive market

    International Nuclear Information System (INIS)

    Duann, D.J.

    1995-12-01

    Unbundling and restructuring of local distribution services is the focus of the natural gas industry. As a result of regulatory reforms, a competitive local distribution market has emerged, and the validity of traditional cost-based regulation is being questioned. One alternative is to completely unbundle local distribution services and transform the local distribution company into a common carrier for intrastate transportation services. Three kinds of alternative pricing mechanisms are examined. For firm intrastate transportation services, cost-based pricing is the preferred method unless it can be shown that a competitive secondary market can be established and maintained. Pricing interruptible transportation capacity is discussed

  18. 48 CFR 552.216-70 - Economic Price Adjustment-FSS Multiple Award Schedule Contracts.

    Science.gov (United States)

    2010-10-01

    ... ___* percent of the original contract unit price. The Government reserves the right to raise this ceiling where... price increase. (e) The Government reserves the right to exercise one of the following options: (1... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Economic Price Adjustment...

  19. Decrease of energy and emission prices undesired. Unfair attack on CO2-levies

    International Nuclear Information System (INIS)

    Blom, M.; De Keizer, I.; Benner, J.

    2005-01-01

    Recently, in the Netherlands, fuel taxes and prices for CO2 emission are criticised. High energy prices are used to suggest other forms of pricing regulations. However, the higher energy prices and CO2-levies are very useful in realizing a sustainable energy supply. More transparency in the market for emissions trading is required to prevent unfair on-charge expenses of CO2-charges [nl

  20. [The French medecine pricing committee and the medicine economic policy: Rules and competences].

    Science.gov (United States)

    Giorgi, D

    2017-09-01

    The French medicine pricing committee (CEPS), a governmental and inter-institutional body exercises essential competences for the regulation of the economy of the reimbursable drugs in France. It provides a good example of administered price regulation. It also supervises the proper use of products (control of promotion, conventional control of sales volumes). Finally, it regulates the annual envelope of drug expenditures by means of discounts paid by pharmaceutical companies. The article presents the legal criteria and the doctrine of price setting used in France. It details the types of market access contracts concluded by the CEPS. It specifies the conditions governing the annual envelope of expenditures on reimbursable medicines. Copyright © 2017 Académie Nationale de Pharmacie. Published by Elsevier Masson SAS. All rights reserved.

  1. Pricing of power in the new market: the impact on industrial/commercial customers

    Energy Technology Data Exchange (ETDEWEB)

    Johannson, K. [TransCanada Power, Calgary, AB (Canada)

    2001-07-01

    A series of viewgraphs were part of this presentation where the author discussed the operations of TransCanada Power. The company operates a power plant that generate 1500 MW, and has 1000 MW in the advanced development stage. TransCanada Power is also a wholesale marketer that actively participates in regulatory and market design forums. It handles 20 per cent of large industrial loads. A brief overview of power price risk was provided, where the concept of value at risk (VAR), a measurement technique, was explained. An example further illustrated the concept. The author reviewed power markets in Alberta from an historical perspective, noting the differences between regulated wholesale markets and the markets found today. A discussion of the drivers of regulated markets ensued, followed by the drivers of the deregulated market, where generation assets are privately owned, operating outside of the adjudication of the regulator, and the merit order is established by ranking of offers, not costs. Return is made from energy commodity sales, the market price is affected by outside influences, and the average market price does not reflect the average system costs. The author explained the changes that took place and discussed some pricing issues. A section on pricing options reviewed pricing decision objectives, term, short term purchases, long term fixed price energy, gas tolling agreements. The author concluded that each organization must define its tolerance to risk, its comfort level with treating electricity differently than gas. The fundamentals behind pricing must be understood, as well as the competitive position of company. tabs., figs.

  2. Pricing of power in the new market: the impact on industrial/commercial customers

    International Nuclear Information System (INIS)

    Johannson, K.

    2001-01-01

    A series of viewgraphs were part of this presentation where the author discussed the operations of TransCanada Power. The company operates a power plant that generate 1500 MW, and has 1000 MW in the advanced development stage. TransCanada Power is also a wholesale marketer that actively participates in regulatory and market design forums. It handles 20 per cent of large industrial loads. A brief overview of power price risk was provided, where the concept of value at risk (VAR), a measurement technique, was explained. An example further illustrated the concept. The author reviewed power markets in Alberta from an historical perspective, noting the differences between regulated wholesale markets and the markets found today. A discussion of the drivers of regulated markets ensued, followed by the drivers of the deregulated market, where generation assets are privately owned, operating outside of the adjudication of the regulator, and the merit order is established by ranking of offers, not costs. Return is made from energy commodity sales, the market price is affected by outside influences, and the average market price does not reflect the average system costs. The author explained the changes that took place and discussed some pricing issues. A section on pricing options reviewed pricing decision objectives, term, short term purchases, long term fixed price energy, gas tolling agreements. The author concluded that each organization must define its tolerance to risk, its comfort level with treating electricity differently than gas. The fundamentals behind pricing must be understood, as well as the competitive position of company. tabs., figs

  3. The voluntary price for the small consumer: Real-time pricing in Spain

    International Nuclear Information System (INIS)

    Roldán Fernández, Juan Manuel; Payán, Manuel Burgos; Santos, Jesús Manuel Riquelme; García, Ángel Luis Trigo

    2017-01-01

    In 2013, a period of reform was initiated of the regulatory framework of the Spanish electricity sector. A year later, the methodology for the calculation of the Voluntary Price for the Small Consumer (VPSC) was approved: a real-time price tariff for small domestic consumers. Under this price-setting system, VPSC consumers are billed according to their hourly consumption and hourly prices along the day. Directive 27/2014/EU, on energy saving, was also transposed to Spanish regulation in 2014. The impact on the Spanish electricity market and domestic VPSC consumers of these two recent energy policy modifications are analyzed in this work. A qualitative model, based on the flexibility of the merit-order curves, is first introduced to formulate a number of hypotheses. A set of scenarios are then examined to quantify the main effects on the market and on domestic consumers. The results show that domestic energy-saving, and, to a lesser extent, load-shifting scenarios, can diminish the mean hourly price and the cost of the annual traded energy in the market. Nevertheless, these reductions are mainly granted to large qualified consumers, since domestic consumers mostly benefit from the reduction of their energy demand rather than from a reduction of the price. - Graphical abstract: Load saving and load-shifting performed by small VPSC consumers reduces the hourly clearing price and the traded energy leading to some rent transfer from the generators to the purchasing agents. The cost saving for VPSC consumers is mainly related to the energy they saved. They profit only partially from the market cost saving. - Highlights: • Merit-order effect related to energy saving and load-shifting are identified. • Domestic consumers are able to conduct energy saving and load-shifting at no cost. • Cyclic load-shifting reduces the traded energy and the economic cost in the market. • Rent transfer form generators to purchasing agents catalyzed by costumers’ saving.

  4. Relating price strategies and price-setting practices

    NARCIS (Netherlands)

    Ingenbleek, P.T.M.; Lans, van der I.A.

    2013-01-01

    Purpose - This article addresses the relationship between price strategies and price-setting practices. The first derive from a normative tradition in the pricing literature and the latter from a descriptive tradition. Price strategies are visible in the market, whereas price-setting practices are

  5. Nonlinear price impact from linear models

    Science.gov (United States)

    Patzelt, Felix; Bouchaud, Jean-Philippe

    2017-12-01

    The impact of trades on asset prices is a crucial aspect of market dynamics for academics, regulators, and practitioners alike. Recently, universal and highly nonlinear master curves were observed for price impacts aggregated on all intra-day scales (Patzelt and Bouchaud 2017 arXiv:1706.04163). Here we investigate how well these curves, their scaling, and the underlying return dynamics are captured by linear ‘propagator’ models. We find that the classification of trades as price-changing versus non-price-changing can explain the price impact nonlinearities and short-term return dynamics to a very high degree. The explanatory power provided by the change indicator in addition to the order sign history increases with increasing tick size. To obtain these results, several long-standing technical issues for model calibration and testing are addressed. We present new spectral estimators for two- and three-point cross-correlations, removing the need for previously used approximations. We also show when calibration is unbiased and how to accurately reveal previously overlooked biases. Therefore, our results contribute significantly to understanding both recent empirical results and the properties of a popular class of impact models.

  6. Electricity pricing model in thermal generating stations under deregulation

    International Nuclear Information System (INIS)

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

    2007-01-01

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

  7. Price convergence and information efficiency in German natural gas markets

    International Nuclear Information System (INIS)

    Growitsch, Christian; Stronzik, Marcus; Nepal, Rabindra

    2012-01-01

    In 2007, Germany changed network access regulation in the natural gas sector and introduced a so-called entry-exit system. The re-regulation's spot market effects remain to be examined. We use cointegration analysis and a state space model with time-varying coefficients to study the development of natural gas spot prices in the two major trading hubs in Germany and the interlinked Dutch spot market. To analyse information efficiency in more detail, the state space model is extended to an error correction model. Overall, our results suggest a reasonable degree of price convergence between the corresponding hubs. However, allowing for time-variant adjustment processes, the remaining price differentials are only partly explained by transportation costs, indicating capacity constraints. Nonetheless, market efficiency in terms of information processing has increased considerably among Germany and The Netherlands.

  8. [Mechanism and implication of regulation of the pricing of essential medicines in the private pharmaceutical sector in Mali].

    Science.gov (United States)

    Maïga, D; Maïga, S; Maïga, M D

    2010-04-01

    The healthcare and pharmaceutical professions in Mali were privatized in 1985. Privatization led to swift expansion of the private sector and upset the balance that had existed between the public and private sectors. A national pharmaceutical policy did not emerge until a decade later. Its purpose was to promote a system ensuring fair access to essential generic medicines for all. It was hoped that synergy between the two sectors would promote that objective. However, the policy calling for distribution of essential generic medicine through the private sector was not accompanied by an adequate system for pricing. This problem led the government to adopt a price regulation policy to realign market dynamics with public health goals. This experience shows that a sustained effort from public policy makers is necessary to prevail against the professional and business interests that can conflict with the public interest. Analysis of this experience also demonstrates the need to improve, restructure, and control the pharmaceutical industry. The government must continue to play its crucial role in the context of limited resources and inequality between consumers and pharmaceutical companies.

  9. Gas prices in the UK: markets and insecurity supply

    International Nuclear Information System (INIS)

    Wright, P.

    2006-01-01

    In this article, Professor P. Wright argues that the high and volatile gas price experienced by UK consumers over the last 3 years are the result of the extend of liberalization in the UK - which has made UK prices much more sensitive to insecurities of supply. Businesses pay the cost of this, straightaway, while the strategies which gas companies have used to respond to heightened price risks means domestic consumers also bear the cost of higher supply-markups. The prospect of high levels of demand in bad winters then just adds to price risk and its associated costs. The implication of this analysis is that it is illogical for the UK's regulator and government to blame the UK's high prices on the slow progress of liberalization in the rest of Europe - greater liberalization in Europe might simply replicate the UK's price difficulties throughout Europe

  10. Using the market to regulate health care price: why heart hospitals will have a competitive advantage in the world of post-diagnostic related group pricing.

    Science.gov (United States)

    McLean, Thomas R

    2004-01-01

    For the past 20 years, the federal government has reimbursed hospital services by administrating pricing. Simply put, under such a system the government dictated the prices of medical services. Not only has administrative pricing failed to control medical inflation, but such failure could have been predicted from a review of basic economics. Accordingly, to eliminate the deleterious effects of administrative pricing, it is not surprising that the government is gathering information on hospital quality and cost in anticipation of a return to a system in which the price for hospital services is determined by the market. For some hospitals, this will be good news because they will be able to negotiate a more favorable rate of reimbursement. Unfortunately, for some hospitals a market system will be bad news because the government is not going to negotiate a provider contract with every hospital. In short, when the government returns to a market system for pricing of hospital services, competition among hospitals is going to become even more competitive.

  11. Regional prices in the Swedish wood-fuel market

    International Nuclear Information System (INIS)

    Hillring, Bengt

    1999-01-01

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

  12. Pricing behaviour of pharmacies after market deregulation for OTC drugs: the case of Germany.

    Science.gov (United States)

    Stargardt, Tom; Schreyögg, Jonas; Busse, Reinhard

    2007-11-01

    To examine the price reactions of German pharmacies to changes made to OTC drug regulations in 2004. Prior to these changes, regulations guaranteed identical prices in all German pharmacies. Two years after market deregulation, 256 pharmacies were surveyed to determine the retail prices of five selected OTC drugs. A probit regression model was used to identify factors that increased the likelihood of price changes. In addition, 409 pharmacy consumers were interviewed to gather information on their knowledge of the regulatory changes and to better explain consumer behaviour. Data was collected on a total of 1215 prices. Two years after deregulation, 23.1% of the participating pharmacies had modified the price of at least one of the five OTCs included in our study. However, in total, only 7.5% of the prices differed from their pre-deregulation level. The probit model showed that population density and the geographic concentration of pharmacies were significantly associated with price changes. Interestingly, the association with the geographic concentration of pharmacies was negative. The consumer survey revealed that 47.1% of those interviewed were aware of the deregulation. Our findings indicate that, two years after deregulation, very few pharmacies had made use of individual pricing strategies; price competition between pharmacies in Germany is thus taking place only a very small scale.

  13. Regulating a Monopoly Offering Priority Service

    OpenAIRE

    Matsukawa, Isamu

    2006-01-01

    This paper investigates the effects of alternative forms of regulation on the market penetration and capacity, which are determined by a profit-maximizing monopolist providing priority service to consumers. For continuous priority service, a minimum reliability standard, price cap and rate of return regulation lead to larger capacity than in the absence of regulation. A minimum reliability standard reduces the market penetration while price cap and rate of return regulation increase it. T...

  14. Limits to oil pricing: scenario planning as a device to understand oil price developments

    International Nuclear Information System (INIS)

    Austvik, O.G.

    1992-01-01

    This paper underlines that the politicizing of the oil market makes economics, politics and even pure warfare important elements in the formation of the price of oil. The disagreement about which theory to use to analyze the market and the bad record of oil price forecasting indicates that conventional oil market models should be critically re-assessed. The scenario planning methodology presented in this paper may be one alternative approach. SP does not overthrow any other theories of the market. But it claims that no single discipline is able to tell the whole truth about the market. The SP approach stresses and clarifies the role of uncertainty in the development of oil prices and underlines the importance of the understanding of the functioning of the market. It argues that without a cross-disciplinary approach, with an adequate choice of parameters, at the right level of in-depth discussion, the analysis may lose essential input or drown in detail. As an example of the methodology, an analysis of development of oil prices in the nineties is presented. It is shown that lower (indicated as 15-20 S/bbl) and upper (indicated as 30-40 S/bbl) limits of the price in the long run can be constructed, based on economic, political and strategic reasoning. It is also argued that short run 'shocks' outside these limits may have become less likely, because: (1) the strategic petroleum reserves (SPR) will cut off the most extreme prices above the upper limit and (2) the existence of a supply side regulator, like OPEC, will prevent prices from dropping below the lower limit for any longer period of time. Sensitivity analysis tests the 'robustness' of the approach. 10 refs., 1 fig

  15. The pricing of natural gas in US markets

    International Nuclear Information System (INIS)

    Brown, S.P.A.; Yucel, M.K.

    1993-01-01

    Our econometric evidence indicates that changes in natural gas prices are unequal in the long run. Nonetheless, all downstream prices change by at least as much as the average well-head price. Statistically, residential and commercial prices change as much as the city gate price. In the face of persistent shocks, however, market institutions and market dynamics can lead to lengthy periods in which the residential and commercial prices of natural gas adjust less than the wellhead or city gate prices. Electrical and industrial users of natural gas rely heavily on spot supplies and can switch fuels easily. Their ability to switch fuels may be related to the development of a spot market to serve them. Reliance on the spot market may explain why these end users have seen a greater reduction in natural gas prices than have the LDCs over the past seven years. The ability to switch fuels may account for electrical and industrial prices being the source of shocks in their relationships with the wellhead price. It also may explain why prices in these end-sue markets are quick to adjust. Commercial and residential customers cannot switch fuels easily and rely heavily on LDCs for their natural gas. The inability of these end users to switch fuels probably contributes to the reluctance of LDCs to purchase spot supplies of gas. Reliance on contract supplies may explain why the city gate price has not declined as much as electrical and industrial prices of natural gas over the past seven years. Furthermore, the LDCs administer prices in the commercial and residential markets under state regulation

  16. Dilemmas of Transfer Pricing Comparability Analysis in Manufacturing Entities. Polish-Czech Case Study

    Science.gov (United States)

    Sulik-Górecka, Aleksandra

    2018-06-01

    Modern manufacturing entities often operate in capital groups, and their role is sometimes limited to the function of cost centers. From the legal point of view, however, they are separate entities obliged to apply transfer pricing regulations. Meeting the requirements of the arm's length principle can be very difficult at this time, given the relationships and conflicts of interest in the capital group. Complexity increases in capital groups operating in different countries, due to differences in tax regulations. The main purpose of the paper is to demonstrate that the need to valuate the sale of finished goods to a manufacturing entity, which is a subject to a different tax jurisdiction, may lead to a problem of compliance with the arm's length principle. In addition, the paper proposes a methodology for comparability analysis that may be used by manufacturing entities to defend conditions of setting transfer pricing. The paper presents the different functional profiles of manufacturing entities and points out the difficulties that they may encounter when preparing the comparability analysis. It has also been noted that there are differences in transfer pricing regulations in different countries, for example by analyzing Polish and Czech regulations. The lack of uniform benchmarking legislation can cause inconsistencies in the selection of comparable data, resulting in differences in transfer pricing. The paper uses the method of legal regulation review and analysis of results of published studies concerning the scope of transfer pricing and comparability analysis. The paper also adopts a case study analysis.

  17. Edgeworth Price Cycles, Cost-Based Pricing, and Sticky Pricing in Retail Gasoline Markets

    OpenAIRE

    Michael D. Noel

    2007-01-01

    This paper examines dynamic pricing behavior in retail gasoline markets for 19 Canadian cities over 574 weeks. I find three distinct retail pricing patterns: 1. cost-based pricing, 2. sticky pricing, and 3. steep, asymmetric retail price cycles that, while seldom documented empirically, resemble those of Maskin & Tirole[1988]. Using a Markov switching regression, I estimate the prevalence of patterns and the structural characteristics of the cycles. Retail price cycles prevail in over 40% of ...

  18. Regulation of distribution grid prices at the beginning of market liberalisation - Experience in Norway and Sweden; Regulierung der Verteilnetzpreise zu Beginn der Marktoeffnung. Erfahrung in Norwegen und Schweden

    Energy Technology Data Exchange (ETDEWEB)

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

    2001-07-01

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

  19. 48 CFR 16.403-1 - Fixed-price incentive (firm target) contracts.

    Science.gov (United States)

    2010-10-01

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

  20. Competitive Pricing by a Price Leader

    OpenAIRE

    Abhik Roy; Dominique M. Hanssens; Jagmohan S. Raju

    1994-01-01

    We examine the problem of pricing in a market where one brand acts as a price leader. We develop a procedure to estimate a leader's price rule, which is optimal given a sales target objective, and allows for the inclusion of demand forecasts. We illustrate our estimation procedure by calibrating this optimal price rule for both the leader and the follower using data on past sales and prices from the mid-size sedan segment of the U.S. automobile market. Our results suggest that a leader-follow...

  1. On the Stochastic Properties of Carbon Futures Prices

    International Nuclear Information System (INIS)

    Chevallier, Julien; Sevi, Benoit

    2012-10-01

    Pricing carbon is a central concern in environmental economics, due to the importance of emissions trading schemes worldwide to regulate pollution. This paper documents the presence of small and large jumps in the stochastic process of the CO 2 futures price. The large jumps have a discrete origin, i.e. they can arise from various demand factors or institutional decisions on the tradable permits market. Contrary to the previously established literature, we show that the stochastic process of the carbon futures prices does not contain a continuous component (Brownian motion). The results are derived by using high-frequency data in the activity signature function framework (Todorov and Tauchen (2010, 2011)). The implication is that the carbon futures price should be rather modelled as an appropriately sampled, centered Levy or Poisson process. The pure-jump behavior of the carbon price could be explained by the lower volume of trades on this allowance market (compared to other highly liquid financial markets). (authors)

  2. Cancer Drugs: An International Comparison of Postlicensing Price Inflation.

    Science.gov (United States)

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

    2017-06-01

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

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

    OpenAIRE

    Carlo De Gregorio

    2010-01-01

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

  4. Bridging the gap between theory and practice of transmission pricing

    International Nuclear Information System (INIS)

    Hughes, W.R.; Felak, R.

    1996-01-01

    The authors describe some strategies for pricing transmission service. Traditionally, wheeling prices have been postage stamp rates based on the level of megawatt demand; a related approach would assign grid costs to customers based on their respective shares of overall megawatt-miles. Innovative regulators have recently approved transmission rates based on opportunity cost of foregone capacity and the incremental costs of additional capacity needed to enable delivery. Others determined prices designed to reflect short-run congestion costs on the grid. The authors assess these pricing approaches and their effects on the distribution of wealth and economic efficiency for both firm and interruptible services. 3 refs

  5. The Demand for Child Care Quality. An Hedonic Price Theory Approach.

    Science.gov (United States)

    Hagy, Alison P.

    1998-01-01

    An implicit price for child care staff-to-child ratio was used to study demand for child care quality. Direct purchase-of-service contracts or vouchers, which subsidize only providers meeting state regulations, effectively lower implicit price and have little influence on the demand for quality. (Author/SK)

  6. 48 CFR 52.249-9 - Default (Fixed-Price Research and Development).

    Science.gov (United States)

    2010-10-01

    ... Research and Development). 52.249-9 Section 52.249-9 Federal Acquisition Regulations System FEDERAL... Provisions and Clauses 52.249-9 Default (Fixed-Price Research and Development). As prescribed in 49.504(b), insert the following clause: Default (Fixed-Price Research and Development) (APR 1984) (a)(1) The...

  7. Arbitrage Pricing, Capital Asset Pricing, and Agricultural Assets

    OpenAIRE

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

    1988-01-01

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

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

    Directory of Open Access Journals (Sweden)

    David Bouras

    2017-07-01

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

  9. Deregulation, market structure and gas prices in the Canadian Natural Gas Industry

    International Nuclear Information System (INIS)

    Uhler, R.S.

    1992-01-01

    During the course of the development of the natural gas industry in Canada, gas purchase and sales markets have evolved from being relatively free of regulation to being highly regulated and back again. Though pipeline transport charges were regulated, the pipeline companies, or their subsidiaries, owned the gas that they transported and price and other provisions of purchase and sales contracts were freely negotiated with the producers at one end and distributing utilities or industrial users at the other end. The Western Accord of 1985 set the process of deregulation of the Canadian natural gas industry in motion. On November 1, 1986, natural gas prices in interprovincial trade were deregulated in that domestic natural gas prices were to be freely negotiated. Although not stated explicitly, government policy is to permit export prices to be freely negotiated so long as they do not fall below domestic prices. The deregulation process has dramatically changed the relationship between buyers and sellers. Of particular importance is that deregulation has permitted companies to negotiate gas purchase contracts directly with producers with the pipeline company acting solely as a gas transporter. The purpose of this paper is to examine the forces that have led to shorter term contracts and to examine the likely effect of these contract terms on reservoir development investment incentives. 5 refs., 3 figs

  10. Tüketim Mekanlarının Dönüşümünde Görsel İletişimin Rolü: Küresel Kahve Dükkanları

    Directory of Open Access Journals (Sweden)

    Özlen ÖZGEN

    2014-02-01

    Full Text Available Kapitalizmin varlığını sürdürmesinin önemli bir koşulu mekanın yeniden düzenlenmesidir. Mekanın  hem  iç ve hem de dış yapılanması bu düzenlemede ayırt edici olmakta, kapitalizmin tüketim mekanlarından küresel kahve dükkanları ise bu farklılaşmanın önemli örnekleri arasında yer almaktadır.Yüzyıllar içinde tüm kıtalara yayılarak küreselleşen kahve, günümüzde farklı markalar altında çağımız insanının gündelik yaşamının başat içeceklerinden biri haline gelmiştir. Çalışmada Starbucks, Gloria Jeans, Lavazza, Illy ve Kahve Dünyası gibi küresel kahve markalarının kahve dükkanlarından örneklere yer verilmektedir. Bu markaların kahve dükkanlarının tasarımlarında çoğunlukla  kahveye ilişkin görsellerin kullanıldığı,  Lavazza’nın ise mekan tasarımı açısından diğer markalardan farklılaştığı görülmektedir. Lavazza bu farklılaşmayı, dünyaca ünlü fotoğraf sanatçıları tarafından çekilen takvim fotoğraflarını kahve dükkanlarının tasarımında kullanarak yaratmaktadır. Markanın görsel iletişiminde kullanılan özel fotoğraflar ile Lavazza arasında kurulan özdeşlik mekan aracılığıyla da pekiştirilmektedir. 

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

    Directory of Open Access Journals (Sweden)

    Travis C. Tai

    2017-11-01

    Full Text Available Ex-vessel fish prices are essential for comprehensive fisheries management and socioeconomic analyses for fisheries science. In this paper, we reconstructed a global ex-vessel price database with the following areas of improvement: (1 compiling reported prices explicitly listed as “for reduction to fishmeal and fish oil” to estimate prices separately for catches destined for fishmeal and fish oil production, and other non-direct human consumption purposes; (2 including 95% confidence limit estimates for each price estimation; and (3 increasing the number of input data and the number of price estimates to match the reconstructed Sea Around Us catch database. Our primary focus was to address this first area of improvement as ex-vessel prices for catches destined for non-direct human consumption purposes were substantially overestimated, notably in countries with large reduction fisheries. For example in Peru, 2010 landed values were estimated as 3.8 billion real 2010 USD when using separate prices for reduction fisheries, compared with 5.8 billion using previous methods with only one price for all end-products. This update of the price database has significant global and country-specific impacts on fisheries price and landed value trends over time.

  12. Gas prices in the UK: markets and insecurity of supply

    International Nuclear Information System (INIS)

    Wright, P.

    2006-01-01

    In this article Professor Philip Wright argues that the high and volatile gas prices experienced by UK consumers over the last 3 years are the result of the extent of liberalization in the UK which has made UK prices much more sensitive to insecurities of supply. Businesses pay the cost of this, straightaway, while the strategies which gas companies have used to respond to heightened price risks means domestic consumers also bear the cost of higher supply-markups. The prospect of high levels of demand in bad winters then just adds to price risk and its associated costs. The implication of this analysis is that it is illogical for the UK's regulator and government to blame the UK's high prices on the slow progress of liberalization in the rest of Europe - greater liberalization in Europe might simply replicate the UK's price difficulties throughout Europe. (author)

  13. Model documentation: Electricity market module, electricity finance and pricing submodule

    Energy Technology Data Exchange (ETDEWEB)

    1994-04-07

    The purpose of this report is to define the objectives of the model, describe its basic approach, and provide detail on how it works. The EFP is a regulatory accounting model that projects electricity prices. The model first solves for revenue requirements by building up a rate base, calculating a return on rate base, and adding the allowed expenses. Average revenues (prices) are calculated based on assumptions regarding regulator lag and customer cost allocation methods. The model then solves for the internal cash flow and analyzes the need for external financing to meet necessary capital expenditures. Finally, the EFP builds up the financial statements. The EFP is used in conjunction with the National Energy Modeling System (NEMS). Inputs to the EFP include the forecast generating capacity expansion plans, operating costs, regulator environment, and financial data. The outputs include forecasts of income statements, balance sheets, revenue requirements, and electricity prices.

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

    OpenAIRE

    Panasenko Tetyana

    2015-01-01

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

  15. 48 CFR 52.232-10 - Payments Under Fixed-Price Architect-Engineer Contracts.

    Science.gov (United States)

    2010-10-01

    ... Architect-Engineer Contracts. 52.232-10 Section 52.232-10 Federal Acquisition Regulations System FEDERAL... Provisions and Clauses 52.232-10 Payments Under Fixed-Price Architect-Engineer Contracts. As prescribed in 32.111(c)(1), insert the following clause: Payments Under Fixed-Price Architect-Engineer Contracts (APR...

  16. Competition and quality in a physiotherapy market with fixed prices.

    Science.gov (United States)

    Pekola, Piia; Linnosmaa, Ismo; Mikkola, Hennamari

    2017-01-01

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

  17. Value based pricing: the least valued pricing strategy

    OpenAIRE

    Hoenen, Bob

    2017-01-01

    Pricing has been one of the least researched topics in marketing, although within these pricing strategies: cost-plus pricing is considered as the leading pricing strategy worldwide. Why should companies use such an unprofitable strategy, where fighting for a higher market share due to low prices is more a rule than exception? VBP is one of the most underestimated strategies by organizations. The definition of VBP is: 'value pricing applies to products that have the potential of being differe...

  18. Henry Hub and national balancing point prices: what will be the international gas price reference?

    International Nuclear Information System (INIS)

    Mazighi, A.E.H.

    2005-01-01

    One of the lessons in the history of international trade in commodities is the emergence - sooner or later - of an international price reference, most commonly known as an international marker price. In the area of oil, West Texas Intermediate (WTI) plays the role of a marker for sour crudes traded in the Atlantic basin. Brent oil fulfils this function for sweet crudes traded in Europe. Another important aspect in the area of global commodities is that the emergence of a marker price is not always necessarily related to the relative share of production of exports of the commodity, but primarily to the existence of an organized market for this commodity. Today, while international gas trade is intensifying, we still lack an international price reference for this commodity. This is due to the fact that the international trade of natural gas is still highly regionalized. It is also due to the fact that most gas markets are still regulated. Nevertheless, deregulation efforts have been implemented in both developed (the United States, the United Kingdom, continental Europe, Korea) and developing countries (Brazil, Chile) and have led to new market structures based on more competition in all segments of the gas chain, except transportation. In the meantime, price structures based on supply and demand principles are supposed to have emerged in the US and UK markets in the 1990s as a result of the implementation of deregulation measures. Today, the US gas market, which represents more than 660 billion cubic metres per year of consumption and the UK gas market, which is close to 100 bcm annually, are considered mature enough to make the principles of supply and demand operate inside these markets. In fact, the Henry Hub (HH) price, which is determined at a physical location in Louisiana, US, and the national balancing point (NBP) price, which is determined somewhere inside the national transmission system (NTS), without any precise location, are considered as potential

  19. International Roaming of Mobile Services: The Need for Regulation

    DEFF Research Database (Denmark)

    Falch, Morten

    2012-01-01

    This section discusses the need for regulation of international roaming charges. This is done through analysis of the EU experiences by a heavy handed price regulation of roaming services.......This section discusses the need for regulation of international roaming charges. This is done through analysis of the EU experiences by a heavy handed price regulation of roaming services....

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

    Directory of Open Access Journals (Sweden)

    Panasenko Tetyana

    2015-11-01

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

  1. Equity impacts of price policies to promote healthy behaviours.

    Science.gov (United States)

    Sassi, Franco; Belloni, Annalisa; Mirelman, Andrew J; Suhrcke, Marc; Thomas, Alastair; Salti, Nisreen; Vellakkal, Sukumar; Visaruthvong, Chonlathan; Popkin, Barry M; Nugent, Rachel

    2018-04-04

    Governments can use fiscal policies to regulate the prices and consumption of potentially unhealthy products. However, policies aimed at reducing consumption by increasing prices, for example by taxation, might impose an unfair financial burden on low-income households. We used data from household expenditure surveys to estimate patterns of expenditure on potentially unhealthy products by socioeconomic status, with a primary focus on low-income and middle-income countries. Price policies affect the consumption and expenditure of a larger number of high-income households than low-income households, and any resulting price increases tend to be financed disproportionately by high-income households. As a share of all household consumption, however, price increases are often a larger financial burden for low-income households than for high-income households, most consistently in the case of tobacco, depending on how much consumption decreases in response to increased prices. Large health benefits often accrue to individual low-income consumers because of their strong response to price changes. The potentially larger financial burden on low-income households created by taxation could be mitigated by a pro-poor use of the generated tax revenues. Copyright © 2018 Elsevier Ltd. All rights reserved.

  2. Logistics: Price Rises Incurred by High Oil Price

    Institute of Scientific and Technical Information of China (English)

    Lai Zhihui

    2011-01-01

    @@ "When the oil price grows by 100%, the logistic indus-try will see a price growth of 40%, while the logistics in-dustry a price rise of 35%, which means every price increase of 5% in the oil price will bring along that of 2% in this industry." said Liu Zongsheng, General Manager of Itochu Logistics Co., Ltd., on the seminar "Focusing on the eco-nomic consequences of raising oil price, interest rate and deposit reserve ratio", which was held recently.

  3. Nucs down in Germany-Prices up in Europe?

    International Nuclear Information System (INIS)

    Bode, Sven

    2009-01-01

    Current legislation on power production from nuclear energy in Germany defines certain remaining quantities of permitted electricity production for nuclear power plants. These quantities are defined for each nuclear power plant and are measured in TWh. In the discussion about climate protection and market trend of electricity prices, it is regularly stated by policy makers that the nuclear phase-out will result in an increase in electricity prices and CO 2 emissions. As a consequence a revision is proposed, especially from the Liberals (FDP) and Conservatives (CDU). The following article discusses this issue analysing the different options investors and operators under different scenarios have. It shows firstly that both emissions and power prices can indeed increase, and secondly that the mere discussion about potentially reversing the phasing-out decision can lead to an increase in electricity prices as investment behaviour may change based on expectations regarding future regulation. I conclude that - ceteris paribus - the nuclear phase-out is likely to result in an increase in CO 2 emissions and prices.

  4. Enhancing medicine price transparency through price information mechanisms.

    Science.gov (United States)

    Hinsch, Michael; Kaddar, Miloud; Schmitt, Sarah

    2014-05-08

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

  5. The pricing of capital services over time

    International Nuclear Information System (INIS)

    Valle, A.P.D.; Watkins, G.C.

    1990-01-01

    In 1982, the Canadian National Energy Board and McGill University sponsored a conference on pipeline regulation in an inflationary era, focussing especially on the possible introduction of some form of tariff levelling. Ironically, shortly after the conference proceedings were published the very concerns addressed receded: inflation declined markedly and emerging weaknesses in oil and gas prices saw the demise or deferral of big projects with large up-front investments, the very projects which had excited interest in developing new regulatory techniques. This paper is organized in three main sections. Section I outlines the problems raised by traditional tariff regulation. Section II develops and discusses theoretical aspects of alternative rate structures. Section II focuses on practical problems of implementing rate structures that, on the face of it, have a better economic rationale than cost-of-service style pricing. Concluding remarks are made in Section IV

  6. Dynamic Pricing

    DEFF Research Database (Denmark)

    Sharifi, Reza; Anvari-Moghaddam, Amjad; Fathi, S. Hamid

    2017-01-01

    Dynamic pricing scheme, also known as real-time pricing (RTP), can be more efficient and technically beneficial than the other price-based schemes (such as flat-rate or time-of-use (TOU) pricing) for enabling demand response (DR) actions. Over the past few years, advantages of RTP-based schemes h...... of dynamic pricing can lead to increased willingness of consumers to participate in DR programs which in turn improve the operation of liberalized electricity markets.......Dynamic pricing scheme, also known as real-time pricing (RTP), can be more efficient and technically beneficial than the other price-based schemes (such as flat-rate or time-of-use (TOU) pricing) for enabling demand response (DR) actions. Over the past few years, advantages of RTP-based schemes...

  7. 48 CFR 52.222-44 - Fair Labor Standards Act and Service Contract Act-Price Adjustment.

    Science.gov (United States)

    2010-10-01

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

  8. Business in the Hands of Consumers: A Scale for Measuring Online Resale Motivations

    Directory of Open Access Journals (Sweden)

    Myriam ERTZ

    2016-12-01

    Full Text Available The web channel is increasingly a central aspect of the second-hand economy and, as such, favours also more sustainable post-consumption processes. This is why the field of online reselling appears increasingly important. Besides, the ever broadening scope of online reselling is key to the success of new online intermediaries that position themselves in the broader movement of collaborative consumption. While, consumers’ attachment for secondhand exchanges is not new, they have largely embraced its online declination. In response to these evolutions in the online retail environment, traditional retail companies have therefore started to create online consumer marketplaces in which consumers exchange goods by themselves. In order to best adapt such online marketplaces to consumers, it is therefore critically important to gain a better understanding of the driving forces behind online reselling. At present, knowledge about what motivates consumers to resell products online is limited. This article outlines the development and validation process of an online resale motivation (ORM scale via three studies involving 1,119 respondents. Study 1 presents the ORM scale development process and resulting multi-dimensional construct, including protester, economic, generative, recreational, practical and social facets. Study 2 replicates the scale and investigates its predictive capabilities. More specifically, the ORM scale predicts successfully online resale frequency. Consumers who are more highly motivated to resell online, will indeed resell more often online. Study 3 examines the mediating role of ORM on the relationship between planned resale intentions (PRI and online resale behaviour. The fact that consumers plan to resell a product prior to its purchase, will not directly lead them to increase the frequency at which they resell online. Rather, it is because they perceive positive economic, practical and recreational outcomes associated with

  9. Efficient pricing and investment in electricity markets with intermittent resources

    International Nuclear Information System (INIS)

    Chao, Hung-po

    2011-01-01

    Facing growing technological and environmental challenges, the electricity industry needs effective pricing mechanism to promote efficient risk management and investment decisions. In a restructured electricity market with competitive wholesale prices and traditionally regulated retail rates, however, there are technical and institutional barriers that prevent dynamic pricing with price responsive demand. In regions with limited energy storage capacity, intermittent renewable resources present special challenges. This could adversely affect the effectiveness of public policies causing inefficient investments in energy technologies. In this paper, we present an updated economic model of pricing and investment in restructured electricity market and use the model in a simulation study for an initial assessment of renewable energy strategy and alternative pricing mechanisms. A key objective of the study is to shed light on the policy issues so that effective decisions can be made to improve efficiency. - Highlights: → Renewable resources present special challenges in regions with limited energy storage capacity. → This paper presents an updated economic model of pricing and investment in restructured electricity market. → A simulation study assesses renewable energy strategy and alternative pricing mechanisms. → The study results inform policy decisions to improve efficient investments in energy technologies.

  10. Some Key Issues in Policy, Pricing, Regulation, and Financing of Irrigation Development in India Today

    OpenAIRE

    Morris, Sebastian

    2005-01-01

    In this paper we discuss the stylised problems relating to water and irrigation in India and argue that most of the inefficiencies, misuse and environmental damage have their roots in the mispricing of water and electricity. Since the only kind of subsidies thus far used are price based input subsidies they end up distorting the allocative prices, from which the other distortions follow. The problems of the sector can be overcome by changing the method of subsidisation. Converting price based...

  11. 75 FR 2723 - Fair Credit Reporting Risk-Based Pricing Regulations

    Science.gov (United States)

    2010-01-15

    ...-based pricing notice to a consumer when the creditor uses a consumer report to grant or extend credit to... consumers to combat identity theft, increase the accuracy of consumer reports, and allow consumers to... consumer report is often used in evaluating the risk posed by the consumer. Creditors that engage in risk...

  12. 48 CFR 52.246-7 - Inspection of Research and Development-Fixed-Price.

    Science.gov (United States)

    2010-10-01

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

  13. ACCOUNTING ASPECTS OF PRICING AND TRANSFER PRICING

    Directory of Open Access Journals (Sweden)

    TÜNDE VERES

    2011-01-01

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

  14. Price squeezes in electric power: The new Battle of Concord

    International Nuclear Information System (INIS)

    Kwoka, J.E. Jr.

    1992-01-01

    The US Court of Appeals opinion in Town of Concord v. Boston Edison offers a vigorous statement of the position that in a regulated market, what may appear to be a price squeeze almost certainly cannot harm the competitive process and therefore should not be held to violate the antitrust laws. While not disputing the possibility of self-serving claims of price squeezes, this article shows that truly anticompetitive price squeezes may indeed occur in the electric power industry and cannot be so readily dismissed. This analysis begins with a brief factual and economic background on price squeezes, then addresses arguments made in Concord and elsewhere seeking to disprove their possibility, and demonstrate that sound economics and good policy require a more balanced approach

  15. 48 CFR 52.214-28 - Subcontractor Certified Cost or Pricing Data-Modifications-Sealed Bidding.

    Science.gov (United States)

    2010-10-01

    ... cost or pricing data at FAR 15.403-4(a)(1), on the date of agreement on price or the date of award... nature and amount of any contingencies included in the price), unless an exception under FAR 15.403-1(b... prescribed in subsection 15.406-2 of the Federal Acquisition Regulation that, to the best of its knowledge...

  16. The impact of a federal cigarette minimum pack price policy on cigarette use in the USA.

    Science.gov (United States)

    Doogan, Nathan J; Wewers, Mary Ellen; Berman, Micah

    2018-03-01

    Increasing cigarette prices reduce cigarette use. The US Food and Drug Administration has the authority to regulate the sale and promotion-and therefore the price-of tobacco products. To examine the potential effect of federal minimum price regulation on the sales of cigarettes in the USA. We used yearly state-level data from the Tax Burden on Tobacco and other sources to model per capita cigarette sales as a function of price. We used the fitted model to compare the status quo sales with counterfactual scenarios in which a federal minimum price was set. The minimum price scenarios ranged from $0 to $12. The estimated price effect in our model was comparable with that found in the literature. Our counterfactual analyses suggested that the impact of a minimum price requirement could range from a minimal effect at the $4 level to a reduction of 5.7 billion packs sold per year and 10 million smokers at the $10 level. A federal minimum price policy has the potential to greatly benefit tobacco control and public health by uniformly increasing the price of cigarettes and by eliminating many price-reducing strategies currently available to both sellers and consumers. © Article author(s) (or their employer(s) unless otherwise stated in the text of the article) 2018. All rights reserved. No commercial use is permitted unless otherwise expressly granted.

  17. Oil price volatility and the asymmetric response of gasoline prices to oil price increases and decreases

    International Nuclear Information System (INIS)

    Radchenko, S.

    2005-01-01

    This paper analyzes the effect of volatility in oil prices on the degree of asymmetry in the response of gasoline prices to oil price increases and decreases. Several time series measures of the asymmetry between the responses of gasoline prices to oil price increases and decreases and several measures of the oil price volatility are constructed. In all models, the degree of asymmetry in gasoline prices declines with an increase in oil price volatility. The results support the oligopolistic coordination theory as a likely explanation of the observed asymmetry and are not consistent with the standard search theory and the search theory with Bayesian updating. (author)

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

    International Nuclear Information System (INIS)

    Maine, Tony; Chapman, Paul

    2007-01-01

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

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

    Directory of Open Access Journals (Sweden)

    Andrea Erika NYÁRÁDI

    2007-01-01

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

  20. 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

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

    Science.gov (United States)

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

    2017-06-01

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

  2. Chaos in oil prices? Evidence from futures markets

    International Nuclear Information System (INIS)

    Adrangi, B.; Chatrath, A.; Dhanda, K.K.; Raffiee, K.

    2001-01-01

    We test for the presence of low-dimensional chaotic structure in crude oil, heating oil, and unleaded gasoline futures prices from the early 1980s. Evidence on chaos will have important implications for regulators and short-term trading strategies. While we find strong evidence of non-linear dependencies, the evidence is not consistent with chaos. Our test results indicate that ARCH-type processes, with controls for seasonal variation in prices, generally explain the non-linearities in the data. We also demonstrate that employing seasonally adjusted price series contributes to obtaining robust results via the existing tests for chaotic structure. Maximum likelihood methodologies, that are robust to the non-linear dynamics, lend support for Samuelson's hypothesis on contract-maturity effects in futures price-changes. However, the tests for chaos are not found to be sensitive to the maturity effects in the futures contracts. The results are robust to controls for the oil shocks of 1986 and 1991

  3. Optimal Regulation of Lumpy Investments

    NARCIS (Netherlands)

    Zwart, G.; Broer, D.P.

    2012-01-01

    When a monopolist has discretion over the timing of infrastructure investments, regulation of post-investment prices interferes with incentivizing socially optimal investment timing. In a model of regulated lumpy investment under uncertainty, we study regulation when the regulator can condition

  4. Impact of the flex-fuel vehicle on the prices formation and regulation in Brazil; Analise do impacto dos veiculos flex-fuel na formacao e regulacao de precos de combustiveis veiculares no Brasil

    Energy Technology Data Exchange (ETDEWEB)

    Buscarini, Rodolfo Jose Galvao [Universidade Estadual de Campinas (IE/UNICAMP), SP (Brazil). Inst. de Economia; Cesca, Igor Gimenes [Universidade Estadual de Campinas (DEP/FEM/UNICAMP), SP (Brazil). Fac. de Engenharia Mecanica. Dept. de Engenharia de Petroleo

    2012-07-01

    The main fuels for vehicles in Brazil are the gasoline type C - which is a mixture of gasoline, resulting from the fractional distillation of oil and anhydrous ethanol - and hydrated ethanol. For this importance, has been created an institutional framework to guide and regulate the activities of the fuel sector, initially for gasoline, hydrated ethanol was contemplated by such device in 2011. Since 2003, there has been manufactured in Brazil the flex-fuel vehicles. With this, the possibility of activation of an additional factor for the regulation of vehicle fuel prices, increasing consumer power to define which of the fuels could be used as the disposition of their prices. One of the effects of growth flex-fuel sales has been increased production and investment in ethanol (especially sugar cane) as a suitable alternative to the. The hope was that the formation of fuel prices was less dependent on their cost of production and distribution and more influenced by a pressure of consumer demand. However, the increase in the sales of the flex-fuel vehicle in Brazil in the last years was not the determining factor in the price of fuels, as it was expected. The explanation of this is on external factors to the automotive industry, linked to the structures of the production chain of oil and ethanol, especially the question of the great increase in international prices of oil and hydrated ethanol in the international market in recent years. (author)

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

    Science.gov (United States)

    2017-09-29

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

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

    OpenAIRE

    van Oest, R.D.; Paap, R.

    2004-01-01

    textabstractWe propose a new reference price framework for brand choice. In this framework, we employ a Markov-switching process with an absorbing state to model unobserved price recall of households. Reference prices result from the prices households are able to remember. Our model can be used to learn how many prices observed in the past are used for reference price formation. Furthermore, we learn to what extent households have sufficient price knowledge to form an internal reference price...

  7. 48 CFR 452.232-70 - Reimbursement for Bond Premiums-Fixed-Price Construction Contracts.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Reimbursement for Bond... Provisions and Clauses 452.232-70 Reimbursement for Bond Premiums—Fixed-Price Construction Contracts. As prescribed in 432.111, insert the following clause: Reimbursement for Bond Premiums—Fixed-Price Construction...

  8. 48 CFR 52.232-26 - Prompt payment for fixed-price architect-engineer contracts.

    Science.gov (United States)

    2010-10-01

    ...-price architect-engineer contracts. 52.232-26 Section 52.232-26 Federal Acquisition Regulations System... Text of Provisions and Clauses 52.232-26 Prompt payment for fixed-price architect-engineer contracts...-Engineer Contracts (OCT 2008) Notwithstanding any other payment terms in this contract, the Government will...

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

    NARCIS (Netherlands)

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

    2013-01-01

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

  10. Generating efficiency: The power of price caps in the public and private Spanish electricity sectors

    International Nuclear Information System (INIS)

    Arocena, P.; Price, C.W.

    1999-01-01

    Economic regulation of firms with market power has placed increasing emphasis on incentive-based regulation such as price caps. The move to such regulation often coincides with a change of ownership, making it difficult to separate the incentive effects. We focus on the effect of regulation alone by analysing the imposition of price cap type regulation on both publicly and privately owned Spanish electricity generators in 1988, several years before three was any change of ownership. Our initial results indicate that the publicly owned generators are generally more efficient than the private ones, but that the effect of price caps is to increase the efficiency of private sector plants faster than those in the public sector. We introduce two novelties into the analysis: we incorporate levels of CO2 and NOx emissions; and we include declared plant availability as an output. The outcome is dependent on the choice of inputs and outputs, and we argue that our measures are more appropriate than traditional measures for a system of central despatch for generators facing environmental constraints. (au) 37 refs

  11. A Practical Guide to the Economics of Carbon Pricing

    Directory of Open Access Journals (Sweden)

    Ross McKitrick

    2016-09-01

    Full Text Available Canadian economists, politicians and even environmentalists are lining up enthusiastically behind pricing carbon as the solution to controlling greenhouse gas emissions in this country. Pricing carbon (or, more accurately, pricing carbon dioxide is not just a fashionable policy approach; it is the most efficient way we have to ration emissions, as it allows emitters — businesses and consumers — to make the most rational decisions about where it makes economic sense to curtail carbon and where it does not. Painfully costly command-and-control reductions make little sense in Canada, given our marginal contribution to global emissions. When practiced globally, a carbon price deals with Canadian emitters as fairly as it does others. However, a beneficial outcome is not guaranteed: certain rules must be observed in order for carbon pricing to have its intended effect of achieving the optimal balance between emission reduction and economic growth. First and foremost, carbon pricing only works in the absence of any other emission regulations. If pricing is layered on top of an emission-regulating regime already in place (such as emission caps or feed-in-tariff programs, it will not only fail to produce the desired effects in terms of emission rationing, it will have distortionary effects that cause disproportionate damage in the economy. Carbon taxes are meant to replace all other climate-related regulation, while the revenue from the taxes should not be funnelled into substitute goods, like renewable power (pricing lets the market decide which of those substitutes are worth funding but returned directly to taxpayers. The price of carbon is set according to what is known as the “social cost of carbon” — the quantified value of the impact that an emitted tonne of carbon today will have on humans in the future (adjusted to present value. That cost is not limitless; there is a point at which the cost of abating a tonne of carbon outweighs the

  12. Utility Green Pricing Programs: Design, Implementation, and Consumer Response

    Energy Technology Data Exchange (ETDEWEB)

    Bird, L.; Swezey, B.; Aabakken, J.

    2004-02-01

    The term green pricing refers to programs offered by utilities in traditionally regulated electricity markets, which allow customers to support the development of renewable energy sources by paying a small premium on their electric bills. Since the introduction of the concept in the United States, the number of unique utility green pricing programs has expanded from just a few programs in 1993 to more than 90 in 2002. About 10% of U.S. utilities offered a green pricing option to about 26 million consumers by the end of 2002. This report provides: (1) aggregate industry data on consumer response to utility programs, which indicate the collective impact of green pricing on renewable energy development nationally; and (2) market data that can be used by utilities as a benchmark for gauging the relative success of their green pricing programs. Specifically, the paper presents current data and trends in consumer response to green pricing, as measured by renewable energy sales, participants, participation rates, and new renewable energy capacity supported. It presents data on various aspects of program design and implementation, such as product pricing, ownership of supplies, retention rates, marketing costs, the effectiveness of marketing techniques, and methods of enrolling and providing value to customers.

  13. Oil prices and the stock prices of alternative energy companies

    International Nuclear Information System (INIS)

    Henriques, Irene; Sadorsky, Perry

    2008-01-01

    Energy security issues coupled with increased concern over the natural environment are driving factors behind oil price movements. While it is widely accepted that rising oil prices are good for the financial performance of alternative energy companies, there has been relatively little statistical work done to measure just how sensitive the financial performance of alternative energy companies are to changes in oil prices. In this paper, a four variable vector autoregression model is developed and estimated in order to investigate the empirical relationship between alternative energy stock prices, technology stock prices, oil prices, and interest rates. Our results show technology stock prices and oil prices each individually Granger cause the stock prices of alternative energy companies. Simulation results show that a shock to technology stock prices has a larger impact on alternative energy stock prices than does a shock to oil prices. These results should be of use to investors, managers and policy makers. (author)

  14. A Study on Rational Pricing System for Water Supply

    Energy Technology Data Exchange (ETDEWEB)

    Moon, H.J. [Korea Environment Institute, Seoul (Korea)

    2001-12-01

    are important for systematizing pricing mechanism and reasonable use of water resource. The study recommends the institutional structure for efficient water management/use include an integrated river basin management system and establishment of an independent agency for executive function (separation of policy making function and executive function). A corporatized organization for actual water supply function is also recommended (separation of regulation function and supply function). (author). 46 refs., 18 figs., 59 tabs.

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

    OpenAIRE

    Raviv, Eran; Bouwman, Kees E.; van Dijk, Dick

    2013-01-01

    This discussion paper led to a publication in 'Energy Economics' , 2015, 50, 227-239. The daily average price of electricity represents the price of electricity to be delivered over the full next day and serves as a key reference price in the electricity market. It is an aggregate that equals the average of hourly prices for delivery during each of the 24 individual hours. This paper demonstrates that the disaggregated hourly prices contain useful predictive information for the daily average ...

  16. Effects of asymmetric medical insurance subsidy on hospitals competition under non-price regulation.

    Science.gov (United States)

    Wang, Chan; Nie, Pu-Yan

    2016-11-15

    Poor medical care and high fees are two major problems in the world health care system. As a result, health care insurance system reform is a major issue in developing countries, such as China. Governments should take the effect of health care insurance system reform on the competition of hospitals into account when they practice a reform. This article aims to capture the influences of asymmetric medical insurance subsidy and the importance of medical quality to patients on hospitals competition under non-price regulation. We establish a three-stage duopoly model with quantity and quality competition. In the model, qualitative difference and asymmetric medical insurance subsidy among hospitals are considered. The government decides subsidy (or reimbursement) ratios in the first stage. Hospitals choose the quality in the second stage and then support the quantity in the third stage. We obtain our conclusions by mathematical model analyses and all the results are achieved by backward induction. The importance of medical quality to patients has stronger influence on the small hospital, while subsidy has greater effect on the large hospital. Meanwhile, the importance of medical quality to patients strengthens competition, but subsidy effect weakens it. Besides, subsidy ratios difference affects the relationship between subsidy and hospital competition. Furthermore, we capture the optimal reimbursement ratio based on social welfare maximization. More importantly, this paper finds that the higher management efficiency of the medical insurance investment funds is, the higher the best subsidy ratio is. This paper states that subsidy is a two-edged sword. On one hand, subsidy stimulates medical demand. On the other hand, subsidy raises price and inhibits hospital competition. Therefore, government must set an appropriate subsidy ratio difference between large and small hospitals to maximize the total social welfare. For a developing country with limited medical resources

  17. Higher Education Prices and Price Indexes. 1976 Supplement.

    Science.gov (United States)

    Halstead, Kent D.

    The 1976 supplement presents higher education price index data for fiscal years 1971 through 1976. The basic study, "Higher Education Prices and Price Indexes" (ED 123 996) presents complete descriptions of the indexes together with index values and price data for fiscal years 1961 through 1974. Indexes are presented for research and development,…

  18. Importance of Electricity Transport Pricing in Liberalised Energy Markets

    International Nuclear Information System (INIS)

    Wohlgemuth, N.

    2001-01-01

    Electricity has traditionally been supplied by vertically integrated companies providing generation, transmission and distribution services. Consumers have purchased a bundled commodity - delivered electricity - and there has been no need to price the components individually. This is no longer the case in competitive and unbundled electricity markets. One of the outstanding issues in the restructuring of the electricity markets is the way in which transmission costs are translated into tariffs. The efforts to create a single European electricity market are difficult to reconcile due to different national network pricing approaches. The European Commission's draft regulation on conditions for access to the network for cross-border exchanges of electricity sets general principles for the pricing of international electricity exchanges. Nodal pricing provides incentives for an efficient use of generation and transmission assets. Experience shows that nodal pricing is workable, and its use may be expected to increase progressively. Postage stamp pricing does not generally provide adequate incentives for efficiency. However, inefficiencies may be small under certain conditions, and postage stamp pricing has the advantage of being relatively transparent and easy to implement. This paper presents an overview of objectives related to an effective design of transmission pricing approaches, of transmission pricing models and presents recent developments in Europe in this respect. Due to the great number of institutional designs of electricity market organisations, it will be difficult to design and implement a model of cross-border transmission pricing that results in a high degree of non-discriminatory international competition in electricity markets, a key objective of the Electricity Directive.(author)

  19. 10 CFR 600.145 - Cost and price analysis.

    Science.gov (United States)

    2010-01-01

    ... DEPARTMENT OF ENERGY (CONTINUED) ASSISTANCE REGULATIONS FINANCIAL ASSISTANCE RULES Uniform Administrative Requirements for Grants and Cooperative Agreements With Institutions of Higher Education, Hospitals, and Other... quotations submitted, market prices and similar indicia, together with discounts. Cost analysis is the review...

  20. Another look on the relationships between oil prices and energy prices

    International Nuclear Information System (INIS)

    Lahiani, Amine; Miloudi, Anthony; Benkraiem, Ramzi; Shahbaz, Muhammad

    2017-01-01

    This paper employs the Quantile Autoregressive Distributed Lags (QARDL) model developed recently by Cho et al. (2015) to investigate the pass-through of oil prices to a set of energy prices. This approach allows analyzing simultaneously short-term connections and long-run cointegrating relationships across a range of quantiles. It also provides insights on the short-run predictive power of oil prices in predicting energy prices while accounting for the cointegration between oil prices and each of the considered energy prices in low, medium and high quantiles. Two key findings emerge from this paper. First, all considered energy prices are shown to be cointegrated with oil price across quantiles meaning that a stationaryequilibriumrelationship exists between single energy price and oil price. Second, we find evidence that oil price is a significant predictor of individual petroleum products prices and natural gas in the short run. This paper has important policy implications for forecasters, energy policy-makers and portfolio managers. - Highlights: • The pass-through of oil prices to a set of energy prices is investigated for US economy. • All considered energy prices are shown to be cointegrated with oil price across quantiles. • Oil price is a significant predictor of individual petroleum products prices in the short run. • Oil price also predicts natural gas prices in the short run.

  1. Fuel prices, emission standards, and generation costs for coal vs natural gas power plants.

    Science.gov (United States)

    Pratson, Lincoln F; Haerer, Drew; Patiño-Echeverri, Dalia

    2013-05-07

    Low natural gas prices and stricter, federal emission regulations are promoting a shift away from coal power plants and toward natural gas plants as the lowest-cost means of generating electricity in the United States. By estimating the cost of electricity generation (COE) for 304 coal and 358 natural gas plants, we show that the economic viability of 9% of current coal capacity is challenged by low natural gas prices, while another 56% would be challenged by the stricter emission regulations. Under the current regulations, coal plants would again become the dominant least-cost generation option should the ratio of average natural gas to coal prices (NG2CP) rise to 1.8 (it was 1.42 in February 2012). If the more stringent emission standards are enforced, however, natural gas plants would remain cost competitive with a majority of coal plants for NG2CPs up to 4.3.

  2. Quality of service regulation, q follows x

    International Nuclear Information System (INIS)

    Meijer, A.Th.

    2005-01-01

    Both the Electricity Act and Gas Act have been recently amended. One of many changes made, was the addition of a system of 'quality of service regulation' to the existing system of price cap regulation. In this article the author explores the system of quality of service regulation in the Electricity Act. Quality of service regulation aims to counterbalance the possible adverse effects of price cap regulation.The Dutch transmission and distribution systems have always been very reliable, especially compared to those in other countries. Nevertheless, the average duration of interruptions to supply per year has risen slightly in recent years. In order to ensure that price reductions will not lead to a further decrease in the quality of service the Dutch legislator has decided to incorporate the aspect of reliability into the existing system of price cap regulation. Both the Electricity Act and Gas Act provide for a system of yardstick competition, whereby good quality of service is financially rewarded and poor quality of service will lead to additional price reductions.This was achieved by incorporating a quality parameter (an extra variable) in the existing price cap formula. Also, all Distribution Network Operators (DNOs) are required to adopt a quality management system. Every other year DNOs must draw up a 'quality and capacity document' which they must publicise. In this document DNOs wilt have to demonstrate that their quality management systems are adequate. Various aspects of the system of quality of service regulation are detailed in Iower legislation by the Minister of Economic Affairs and in several decisions by the Director of DTe. In a decision of 8 October 2005 the Director of DTe adopted the method by which the quality parameter (or 'q factor') with respect to the second price control period (2004-2006) is to be determined.This decision is also referred to as the 'methode-besluit'. Distribution Network Operators (DNOs) can be penalised or rewarded by

  3. Seeking lower prices where providers are consolidated: an examination of market and policy strategies.

    Science.gov (United States)

    Ginsburg, Paul B; Pawlson, L Gregory

    2014-06-01

    The ongoing consolidation between and among hospitals and physicians tends to raise prices for health care services, which poses increasing challenges for private purchasers and payers. This article examines strategies that these purchasers and payers can pursue to combat provider leverage to increase prices. It also examines opportunities for governments to either support or constrain these strategies. In response to higher prices, payers are developing new approaches to benefit and network design, some of which may be effective in moderating prices and, in some cases, volume. These approaches interact with public policy because regulation can either facilitate or constrain them. Federal and state governments also have opportunities to limit consolidation's effect on prices by developing antitrust policies that better address current market environments and by fostering the development of physician organizations that can increase competition and contract with payers under shared-savings approaches. The success of these private- and public-sector initiatives likely will determine whether governments shift from supporting competition to directly regulating payment rates. Project HOPE—The People-to-People Health Foundation, Inc.

  4. Deliverability and regional pricing in U.S. natural gas markets

    International Nuclear Information System (INIS)

    Brown, Stephen P.A.; Yuecel, Mine K.

    2008-01-01

    During the 1980s and early 90s, interstate natural gas markets in the United States made a transition away from the regulation that characterized the previous three decades. With abundant supplies and plentiful pipeline capacity, a new order emerged in which freer markets and arbitrage closely linked natural gas price movements throughout the country. After the mid-1990s, however, U.S. natural gas markets tightened and some pipelines were pushed to capacity. We look for the pricing effects of limited arbitrage through causality testing between prices at nodes on the U.S. natural gas transportation system and interchange prices at regional nodes on North American electricity grids. Our tests do reveal limited arbitrage, which is indicative of bottlenecks in the U.S. natural gas pipeline system. (author)

  5. Pricing Electric Power in the Czech Republic and in Selected Countries

    Directory of Open Access Journals (Sweden)

    Eva Mazegue Pavelková

    2016-01-01

    Full Text Available This paper focuses on state intervention in the pricing of electricity from renewable power sources in the Czech Republic when compared with the pricing in the Slovak Republic, Germany, France and Italy. In these countries the state intervention is implemented in different forms, but the critical part of the price is regulated everywhere by the state. The price of electricity is determined by its production costs, which depend on the source from which electricity is produced. The highest cost of electricity is required to generate renewable energy, particularly solar power, while the lowest costs of power are associated with its production by coal-fired and natural gas-fired thermal power plants. However, hydroelectric power plants attain clearly the lowest cost for generating electricity. State intervention includes supporting power generation from renewable power sources by guaranteeing purchase prices.

  6. Pricing Mining Concessions Based on Combined Multinomial Pricing Model

    Directory of Open Access Journals (Sweden)

    Chang Xiao

    2017-01-01

    Full Text Available A combined multinomial pricing model is proposed for pricing mining concession in which the annualized volatility of the price of mineral products follows a multinomial distribution. First, a combined multinomial pricing model is proposed which consists of binomial pricing models calculated according to different volatility values. Second, a method is provided to calculate the annualized volatility and the distribution. Third, the value of convenience yields is calculated based on the relationship between the futures price and the spot price. The notion of convenience yields is used to adjust our model as well. Based on an empirical study of a Chinese copper mine concession, we verify that our model is easy to use and better than the model with constant volatility when considering the changing annualized volatility of the price of the mineral product.

  7. Russian energy prices, taxes and costs 1993

    International Nuclear Information System (INIS)

    1994-01-01

    The Russian energy industry may be the country's most promising exporter, but it is struggling to free itself from the heavy regulation and economic distortions inherited from the Soviet era. This analysis examines Russian price and tax policies as well as production costs in 1993, and their effect on supply and demand in the oil, coal, gas and electricity sectors. The study underscores the broad consensus among both Western and Russian experts that primary energy prices should be lifted to world levels. It offers a framework for addressing the great question about how fast this should be done in a country undergoing a tremendous social and political transformation

  8. Market-driven energy pricing necessary to ensure China's power supply

    International Nuclear Information System (INIS)

    Wang, Qiang; Qiu, Huan-Ning; Kuang, Yaoqiu

    2009-01-01

    China's rapid economic growth has strained its power supply, as manifested for instance by the widespread 2008 power shortage. The cause for this shortage is thought to be the current Chinese energy pricing system, which is mainly government rather than market controlled. Government-regulated price-caps for coal have seriously affected coal supply. At the same time price-caps for electricity supply have caused suspension of power plant operation. As a result, the average operating time of coal-fired power plants declined 50 h annually across the nation in the first half of 2008 compared to the previous year, despite clear power shortages. Here, it will be suggested that energy pricing, set by supply and demand may effectively discourage excessive growth in heavy industry, substantially encourage energy conservation and efficiency, and curb the rapid electricity demand in China. It will be argued that a market-oriented electricity pricing mechanism is required for China to secure its future power supply. (author)

  9. The impact of electricity price changes on industrial prices and the general price level in Korea

    International Nuclear Information System (INIS)

    Lim, Seul-Ye; Yoo, Seung-Hoon

    2013-01-01

    Electricity has played an important role in the economic development of Korea and, thus, has become a critical factor in sustaining the well-being of the Korean people. This study attempts to investigate the impact of electricity price changes on industrial prices and the general price level using input–output (I–O) analysis. To this end, we apply the I–O price model to the 2011 I–O table recently produced by the Bank of Korea, paying particular attention to the electricity sector by considering it as exogenous and then investigating its impacts. The impacts of the electricity price changes on each industrial sector's prices and the general price level are quantitatively derived. For example, the overall impact of a 10% increase in electricity price on the Korean national economy is estimated to be 0.4367%. We also report the results from the model with the electricity sector endogenous and the model with endogenous electricity and labor sectors. This information can be usefully utilized in decision-making regarding price management for electricity. - Highlights: • We investigate the impact of electricity price changes on the Korean economy. • We use the input–output (I–O) analysis specifying the electricity sector as exogenous. • We apply the I–O price model to 2010 I–O table produced by the Bank of Korea. • The impact of a 10% increase in electricity price on the Korean economy is 0.2176%

  10. 48 CFR 52.249-2 - Termination for Convenience of the Government (Fixed-Price).

    Science.gov (United States)

    2010-10-01

    ... Convenience of the Government (Fixed-Price). 52.249-2 Section 52.249-2 Federal Acquisition Regulations System... Text of Provisions and Clauses 52.249-2 Termination for Convenience of the Government (Fixed-Price). As prescribed in 49.502(b)(1)(i), insert the following clause: Termination for Convenience of the Government...

  11. 31 CFR Appendix D to Part 356 - Description of the Consumer Price Index

    Science.gov (United States)

    2010-07-01

    ... Price Index (“CPI”) for purposes of inflation-protected securities is the non-seasonally adjusted U.S...' services, and drugs. In calculating the index, price changes for the various items are averaged together... Index D Appendix D to Part 356 Money and Finance: Treasury Regulations Relating to Money and Finance...

  12. Regulation models for district heating. Main report; Denmark; Reguleringsmodeller for fjernvarmen. Hovedrapport

    Energy Technology Data Exchange (ETDEWEB)

    2012-02-15

    With regard to choice of model for the regulation of district heating prices the report points out that a detailed analysis of a cost+ model could be considered. Such an analysis could provide further definition of the extended right to recoup the investment for heating companies, the shaping of the possibility of recognition of opportunity costs and the fixed cost allocation, and the clarified definition of necessary costs. The report also suggests that a price cap regulation or a completely free pricing in the entire sector is hardly appropriate forms of regulation. The report's analysis clearly shows that the choice of price regulation in the heat sector has impact on the incentives in terms of investment, green conversion, etc. It also appears that the different regulatory models have very different advantages and disadvantages, and lessons learned from other sectors and abroad show that changing price regulation rules can be a difficult and lengthy process with unintended consequences along the way. (LN)

  13. Further Study on the Affordability of Alcoholic Beverages in the EU: A Focus on Excise Duty Pass-Through, On- and Off-Trade Sales, Price Promotions and Statutory Regulations.

    Science.gov (United States)

    Rabinovich, Lila; Hunt, Priscillia; Staetsky, Laura; Goshev, Simo; Nolte, Ellen; Pedersen, Janice S; Tiefensee, Christine

    2012-01-01

    Policies related to alcohol pricing, promotion and discounts provide opportunities to address harms associated with alcohol misuse. However, there are important gaps in information and knowledge about the regulations in place across parts of Europe and their impacts on consumer prices and locations of purchase. Using market data, we explored the overall scale and trend of price promotions and discounts in the off-premise (e.g. supermarket) and on-premise (e.g. restaurants, pubs) across five EU Member States. To better understand the factors that may influence sales in the on- vs. off-premises, we performed regression analysis for four EU Member States with relevant data. This found that increases in broadband penetration and population density were associated with relatively higher levels of off-premise alcohol purchases and that increases in income were associated with relatively higher levels of on-premise purchases of alcohol. There was no statistically significant relationship for female higher education. We further used time-series methods, drawing on data for Ireland, Latvia, Slovenia and Finland, to estimate the impact of changes in excise duty on price ("pass-through"). This showed that a €1 increase in excise duty increased beer prices by €0.50-€2.50 in the off-premise, and increased spirits prices by €0.70-€1.40 in the off-premise. These findings suggest that, depending on the price sensitivity of consumers and other strategies employed by suppliers (e.g. advertising), changes in excise duty may be an effective instrument to reduce harmful alcohol consumption.

  14. Price fairness

    OpenAIRE

    Diller, Hermann

    2013-01-01

    Purpose – The purpose of this article is to integrate the various strands of fair price research into a concise conceptual model. Design/methodology/approach – The proposed price fairness model is based on a review of the fair pricing literature, incorporating research reported in not only English but also German. Findings – The proposed fair price model depicts seven components of a fair price: distributive fairness, consistent behaviour, personal respect and regard for the partner, fair dea...

  15. Effect of oil price on Nigeria’s food price volatility

    Directory of Open Access Journals (Sweden)

    Ijeoma C. Nwoko

    2016-12-01

    Full Text Available This study examines the effect of oil price on the volatility of food price in Nigeria. It specifically considers the long-run, short-run, and causal relationship between these variables. Annual data on oil price and individual prices of maize, rice, sorghum, soya beans, and wheat spanning from 2000 to 2013 were used. The price volatility for each crop was obtained using Generalized Autoregressive Conditional Heteroskedascity (GARCH (1, 1 model. Our measure of oil price is the Refiner acquisition cost of imported crude oil. The Augmented Dickey–Fuller and Phillip–Perron unit root tests show that all the variables are integrated of order one, I (1. Therefore, we use the Johansen co-integration test to examine the long-run relationship. Our results show that there is no long-run relationship between oil price and any of the individual food price volatility. Thus, we implement a VAR instead of a VECM to investigate the short-run relationship. The VAR model result revealed a positive and significant short-run relationship between oil price and each of the selected food price volatility with exception of that of rice and wheat price volatility. These results were further confirmed by the impulse response functions. The Granger causality test result indicates a unidirectional causality from oil price to maize, soya bean, and sorghum price volatilities but does not show such relationship for rice and wheat price volatilities. We draw some policy implications of these findings.

  16. Delivered Pricing, FOB Pricing, and Collusion in Spatial Markets

    OpenAIRE

    Maria Paz Espinosa

    1992-01-01

    This article examines price discrimination and collusion in spatial markets. The problem is analyzed in the context of a repeated duopoly game. I conclude that the prevailing pricing systems depend on the structural elements of the market. Delivered pricing systems emerge in equilibrium in highly monopolistic and highly competitive industries, while FOB is used in intermediate market structures. The fact driving this result is that delivered pricing policies allow spatial price discrimination...

  17. Capacity pricing in a free market

    International Nuclear Information System (INIS)

    Wangensteen, Ivar; Wolfgang, Ove; Doorman, Gerard

    2005-01-01

    This report deals primarily with pricing of reserve capacity, partly on a theoretical basis and partly based on practical experience from the Norwegian market. In the theoretical part we describe a simple model for investigation of equilibrium prices on capacity reserves, spot power and regulating power. This model is based on strong simplifying assumptions. Next a computer model is introduced. That enables more complexity and makes it possible to analyse more realistic scenarios. Finally the report describes experiences from the Norwegian market. The Norwegian System Operator, Statnett, is responsible for the Balancing Market (BM) and Reserves Option Market (ROM), which was introduced a few years ago as a separate market for reserves. Experience with these market instruments are generally good and Statnett is preparing a new version for the winter 2004/2005. The report deals with generation as well as consumer side capacity reserves. One interesting observation is that in Norway the consumer side is providing more capacity reserves than the generators, but the consumers normally bid in a higher BM price than the generators. (author)

  18. Use of Local Dynamic Electricity Prices for Indirect Control of DER Power Units

    DEFF Research Database (Denmark)

    Nørgård, Per Bromand; Isleifsson, Fridrik Rafn

    2013-01-01

    the grid voltage. The algorithms generating the local prices are dynamically adjusted according to the actual realised responses to the dynamic prices. Results are presented from an adapted version of the control principle implemented and tested in DTUs experimental research power system, SYSLAB, including...... wind power, solar power, flexible load and electrical storage. The local power price generation is based on the actual Nord Pool DK2 Spot prices on hourly basis as the quasi-stationary global electricity price, and the local SYSLAB's power exchange with the national grid as basis for the dynamic price...... system. A challenge is to find a cheap, simple and robust way to requests the proper power regulation by the DER power units. The use of broadcasted, dynamic power prices and volunteer responses is one option. The paper presents a proposal for and an illustration of advanced generation of local, dynamic...

  19. Research on the pricing system of online nuclear power

    International Nuclear Information System (INIS)

    Xu Dan

    2010-01-01

    National Development and Reform Commission Issues 'Long-term Nuclear Power Development Plan (2005-2020)' in October, 2007. It is the milestone for great development of the nuclear power plant. By the end of the first half of 2009, the nuclear power companies, mainly leading by CNNC and CGNPC, are busy in expanding the new project investment scale of the nuclear power. They gradually initialize the enormous nuclear investment in Zhejiang, Liaoning, Shandong, Guangxi Province and some other place. Along with the development of the nuclear plant and the reformation of the electricity price, the online electricity price of the nuclear power plant will likely be revised. How long will the price policy of 'One to one price' for each type of plant be hold? How will the online electricity price be set in the future? What kind of theories will be followed in the new pricing policy? And what kind of influence will it have on the operating and constructing nuclear power plants? All these will be the problem to the nuclear power plant. There are a lot of uncertainties in front of the nuclear power enterprise in the future. The article analyzes the cost structure of the nuclear power enterprise. Based on the price theory of the market economy, and after benchmarking with the coal power and some other industries, the article studies the future pricing policy of the nuclear power enterprise. And the article analyzes the future management risk of the nuclear power enterprise after the pricing policy reformation. And through the management improvement, the nuclear power company could response effectively to the price regulation, and minimize the uncertainty caused by the pricing policy reformation to the enterprise operation and management. (author)

  20. Efficiency and regulation of the Slovenian electricity distribution companies

    International Nuclear Information System (INIS)

    Filippini, Massimo; Hrovatin, Nevenka; Zoric, Jelena

    2004-01-01

    The Slovenian Energy Law, adopted in 1999, has opened the internal market to competition up to 64% of the final consumption. The opening of the internal market to foreign competition is envisaged for 2003. With regard to the methodology of price regulation, the Energy Law introduces the 'price-cap' regulation, which aims to give firms incentive for cost reduction. To provide information for effective price regulation, we estimated a cost frontier function on a sample of Slovenian electricity distribution utilities over the 1991-2000 period. The estimated efficient frontier could be used by Slovenian regulatory agency as a benchmark to regulate network access prices. Our results show that Slovenian distribution companies are cost inefficient. We have also proved the presence of increasing returns to scale with most utilities not achieving the minimum efficient scale. Thus, the Slovenian regulatory authority should consider how to induce mergers of small electricity distribution utilities into larger units

  1. The European power industry : asymmetries and price volatility

    International Nuclear Information System (INIS)

    Isabel, M.; Soares, R.T.

    2005-01-01

    A time series model was used to obtain empirical evidence on the spot price volatility of the Spanish electricity market. The model was based on a single market operator and 2 system operators. A generalized autoregressive conditional heteroskedasticity (GARCH) model was used to model and forecast conditional variances related to the spot price volatility of the Spanish electricity market. A correlogram analysis was used to model the processes behind the time series. Autocorrelation and partial autocorrelation functions were used to demonstrate that the the derived electricity spot price series was not a random walk. Lags in various areas were attributed to the fact that a large proportion of electricity is consumed by industry. Weekly cycles justified values presented by a lags multiple of 7. Results of the modelling study showed that the method can be used in the risk management of electricity portfolios as well as in the pricing and hedging of different types of derivatives in electricity markets. It was concluded that further work is needed to reduce instability and asymmetries between generators, consumers and regulators. 16 refs., 5 tabs., 5 figs

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

    International Nuclear Information System (INIS)

    Ewing, Bradley T.; Thompson, Mark A.

    2007-01-01

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

  3. Energy prices and agricultural commodity prices: Testing correlation using copulas method

    International Nuclear Information System (INIS)

    Koirala, Krishna H.; Mishra, Ashok K.; D'Antoni, Jeremy M.; Mehlhorn, Joey E.

    2015-01-01

    The linear relationships between energy prices and prices for agricultural commodities such as corn and soybeans may have been affected, over the last several years, by policy legislations in the farm sector, the Energy Independence and Security Act of 2007, and the Renewable Fuel Standard Program for 2014. Using high-frequency data and newer methodology, this study investigates dependence between agricultural commodity futures prices and energy futures prices. Results reveal that agricultural commodity and energy future prices are highly correlated and exhibit positive and significant relationship. Findings from this study highlight that an increase in energy price increases the price of agricultural commodities. - Highlights: • Energy policy mandates production of 15 billion gallons of corn ethanol by 2015. • Energy-intensive agriculture has a link between energy sector and crop production costs. • We investigate correlation between energy prices and agricultural commodity prices. • Agricultural commodity and energy future prices are highly correlated. • Increase in energy price increases the price of agricultural commodity

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

    OpenAIRE

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

    2012-01-01

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

  5. Overview of external reference pricing systems in Europe.

    Science.gov (United States)

    Rémuzat, Cécile; Urbinati, Duccio; Mzoughi, Olfa; El Hammi, Emna; Belgaied, Wael; Toumi, Mondher

    2015-01-01

    External reference pricing (ERP) is a price regulation tool widely used by policy makers in the European Union (EU) Member States (MS) to contain drug cost, although in theory, it may contribute to modulate prices up and down. The objective of this article was to summarise and discuss the main findings of part of a large project conducted for the European Commission ('External reference pricing of medicinal products: simulation-based considerations for cross-country coordination'; see www.ec.europa.eu/health/healthcare/docs/erp_reimbursement_medicinal_products_en.pdf) that aimed to provide an overview of ERP systems, both on processes and potential issues in 31 European countries (28 EU MS, Iceland, Norway, and Switzerland). A systematic structured literature review was conducted to identify and characterise the use of ERP in the selected countries, to describe its impact on the prices of pharmaceuticals, and to discuss the possible cross-country coordination issues in EU MS. This research was complemented with a consultation of competent authorities' and international organisations' representatives to address the main issues or uncertainties identified through the literature review. All selected countries applied ERP, except the United Kingdom and Sweden. Twenty-three countries used ERP as the main systematic criterion for pricing. In the majority of European countries, ERP was based on legislated pricing rules with different levels of accuracy. ERP was applied either for all marketed drugs or for specific categories of medicines; it was mainly used for publicly reimbursed medicines. The number of reference countries included in the basket varied from 1 to 31. There was a great variation in the calculation methods used to compute the price; 15 countries used the average price, 7 countries used the lowest price, and 7 countries used other calculation methods. Reported limitations of ERP application included the lack of reliable sources of price information, price

  6. Separated influence of crude oil prices on regional natural gas import prices

    International Nuclear Information System (INIS)

    Ji, Qiang; Geng, Jiang-Bo; Fan, Ying

    2014-01-01

    This paper analyses the impact of global economic activity and international crude oil prices on natural gas import prices in three major natural gas markets using the panel cointegration model. It also investigates the shock impacts of the volatility and the increase and decrease of oil prices on regional natural gas import prices. The results show that both global economic activity and international crude oil prices have significant long-term positive effects on regional natural gas import prices. The volatility of international crude oil prices has a negative impact on regional natural gas import prices. The shock impact is weak in North America, lags in Europe and is most significant in Asia, which is mainly determined by different regional policies for price formation. In addition, the response of natural gas import prices to increases and decreases in international crude oil prices shows an asymmetrical mechanism, of which the decrease impact is relatively stronger. - Highlights: • Impacts of world economy and oil prices on regional natural gas prices are analysed • North American natural gas prices are mainly affected by world economy • Asian and European natural gas prices are mainly affected by oil prices • The volatility of oil prices has a negative impact on regional natural gas prices • The response of natural gas import prices to oil prices up and down shows asymmetry

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

    Science.gov (United States)

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

    2018-01-01

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

  8. Estimating the commodity market price of risk for energy prices

    International Nuclear Information System (INIS)

    Kolos, Sergey P.; Ronn, Ehud I.

    2008-01-01

    The purpose of this paper is to estimate the ''market price of risk'' (MPR) for energy commodities, the ratio of expected return to standard deviation. The MPR sign determines whether energy forward prices are upward- or downward-biased predictors of expected spot prices. We estimate MPRs using spot and futures prices, while accounting for the Samuelson effect. We find long-term MPRs generally positive and short-term negative, consistent with positive energy betas and hedging, respectively. In spot electricity markets, MPRs in Day-Ahead Prices agree with short-dated futures. Our results relate risk premia to informed hedging decisions, and futures prices to forecast/expected prices. (author)

  9. Network Asymmetries and Access Pricing in Cellular Telecommunications

    NARCIS (Netherlands)

    V. Kocsis

    2005-01-01

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

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

    Directory of Open Access Journals (Sweden)

    Ijeoma C. Nwoko

    2016-12-01

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

  11. If deregulation is so great, why are prices higher than before?

    International Nuclear Information System (INIS)

    Wellenius, K.; Adamson, S.

    2001-01-01

    For the past three months or so, Alberta has been in a situation where electricity prices are determined by market forces not regulation. The expected benefits of deregulation have not yet materialized as high power poll prices are the norm. Comparisons between Alberta and other jurisdictions operating under a regulated market should not be made. The authors argued that Alberta must act to develop significant additional generating resources to allow the growing needs to be met. Policymakers must work toward attracting private investment in new capacity using market means. The free market process cannot be perceived to be undermined by government. The development of forward markets and a market for ancillary services should be the priority in the coming months. The authors discussed investment under regulation, touching on depreciation and inflation, and the manner in which rates are affected by new investment. The next section covered the market since deregulation, explaining how the rise in prices is a reflection of the changing market conditions, the strong fundamentals and consumer protection. Some recommendations were made and the authors concluded that overall a very attractive market has been developed for Alberta. It involves a transparent design, relevant institutions and a large volume of information on the functioning of the market. 2 tabs., 2 figs

  12. CAPM (Capital Asset Pricing Model) and regulation in Brazilian electric distribution sector

    International Nuclear Information System (INIS)

    Pinto, Rinaldo Caldeira; Parente, Virginia

    2010-01-01

    The aim of this paper is to analyse the use of Capital Asset Pricing Model (CAPM) Beta in the Brazilian electric distribution sector tariffs review. The betas applied by the Regulatory Agency are defined using data from the American, English and Brazilian markets. These betas will then be compared to the betas obtained in the domestic market. The betas were directly obtained from an economic-financial databank largely employed by the market. The sample is composed of companies' shares, priced at Sao Paulo Stock Market. Their main activity is the distribution of electric energy between July 2002 and July 2007. The results of mean betas obtained for the distribution segment, with values close to the ones applied by the regulatory agency for the cycle of tariff reviews between 2007-2010. (author)

  13. Why do stumpage prices increase more than lumber prices?

    Science.gov (United States)

    William G. Luppold; John E. Baumgras; John E. Baumgras

    1998-01-01

    Every sawmiller who has been in business more than 5 years realizes that hardwood stumpage prices tend to increase faster than lumber prices, decreasing the margin between these two prices. Although increases in stumpage versus lumber prices are readily apparent, the reason for the decrease in the margin is not. Recent research findings indicate that the stumpage/...

  14. Pricing and tariffs

    International Nuclear Information System (INIS)

    Dyrelund, A.

    1993-01-01

    Danish suppliers of electricity and district heating are with a few exceptions either public utilities or cooperatives owned by consumers. The basic tariff regulations for electricity and heat in Denmark state that the tariff has to cover all costs and that only a reasonable interest of invested capital may be included in the tariff. Consequently, all profit has to be used to lower prices. For municipality-owned utilities the consumer prices would be the same if the consumers were the owners. It is typical for the district heating and electricity sector that the technical system, the organizations involved and the tariff levels show the same structure: Plants - transmission - distribution - consumer. E.g. the price of energy from the transmission system includes costs of plants and transmission, but not costs of distribution. Concerning energy saving measures in buildings it is important to note that energy saving measures should not be evaluated on the basis of saved GJ (Giga Joule) thermal energy and GJ electricity because the fuel energy consumption and the share of variable costs depend on the supply system. To find least-cost solutions to satisfy the basic demand for energy services, it is necessary to be aware of the whole chain of elements from fuel to services: fuel - plant - network - consumer installations - building envelope - services. The consumer tariff is the most important link between the supply systems and the buildings. A reasonably designed incentive tariff may work for least-cost solutions, whereas other tariffs may encourage a waste of resources, either waste of fuel energy or waste of investments. (AB)

  15. 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%....

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

    Science.gov (United States)

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

    2014-12-01

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

  17. Water Price Reforms in China: Policy-Making and Implementation

    NARCIS (Netherlands)

    Zhong, L.; Mol, A.P.J.

    2010-01-01

    Following the conviction that economic and pricing approaches are an essential addition to conventional command-and-control environmental regulation, China has gradually increased attention to, research on and experiments with the application of economic instruments in urban water management over

  18. Strategic behavior and international benchmarking for monopoly price regulation. The case of Mexico

    Energy Technology Data Exchange (ETDEWEB)

    Brito, Dagobert L. [Rice Univ., Houston, TX (US). Dept. of Economics and Baker Inst. (MS-22); Rosellon, Juan [Centro de Investigacion y Docencia Economicas (CIDE), Mexico, D.F. (Mexico); Deutsches Inst. fuer Wirtschaftsforschung, Berlin (Germany)

    2010-07-01

    This paper looks into various models that address strategic behavior in the supply of gas by the Mexican monopoly Pemex. The paper has three very strong technical results. First, the netback pricing rule for the price of domestic natural gas (based on a Houston benchmark price) leads to discontinuities in Pemex's revenue function. Second, having Pemex pay for the gas it uses and the gas it flares increases the value of the Lagrange multiplier associated with the gas processing constraint. Third, if the gas processing constraint is binding, having Pemex pay for the gas it uses and flares does not change the short run optimal solution for the optimization problem, so it will have no impact on short-run behavior. These results imply three clear policy recommendations. The first is that the arbitrage point be fixed by the amount of gas Pemex has the potential to supply in the absence of processing and gathering constraints. The second is that Pemex be charged for the gas it uses in production and the gas it flares. The third is that investment in gas processing and pipeline should be in a separate account from other Pemex investment. (orig.)

  19. Natural gas pricing reform in China: Getting closer to a market system?

    International Nuclear Information System (INIS)

    Paltsev, Sergey; Zhang, Danwei

    2015-01-01

    Recent policy in China targets an increase in the contribution of natural gas to the nation's energy supply. Historically, China's natural gas prices have been highly regulated with a goal to protect consumers. The old pricing regime failed to provide enough incentives for natural gas suppliers, which often resulted in natural gas shortage. A new gas pricing reform was tested in Guangdong and Guangxi provinces in 2011, and introduced nationwide in 2013. The reform is aimed at creating a more market-based pricing mechanism. We show that a substantial progress toward a better predictability and transparency of prices has been made. The prices are now more connected with the international fuel oil and liquid petroleum gas prices. The government's approach for a temporary two-tier pricing when some volumes are still traded at old prices reduced a potential opposition during the new regime implementation. Some limitations of the natural gas pricing remain as it created biased incentives for producers and favors large natural gas suppliers. The pricing reform at its current stage falls short of establishing a complete market mechanism driven by an interaction of supply and demand of natural gas in China. - Highlights: • China's reform of natural gas pricing is in effect nationwide from 2013. • Prices are now connected to international fuel oil and liquid petroleum gas prices. • The reform benefits domestic producers and importers of natural gas. • There are still price distortions between industrial and residential sector. • The reform needs to create a system where both supply and demand are considered.

  20. Consistent Estimation of Pricing Kernels from Noisy Price Data

    OpenAIRE

    Vladislav Kargin

    2003-01-01

    If pricing kernels are assumed non-negative then the inverse problem of finding the pricing kernel is well-posed. The constrained least squares method provides a consistent estimate of the pricing kernel. When the data are limited, a new method is suggested: relaxed maximization of the relative entropy. This estimator is also consistent. Keywords: $\\epsilon$-entropy, non-parametric estimation, pricing kernel, inverse problems.

  1. 電信零售價格調整上限制之研究 Comparative Study on the Price Cap Regulation of Telecom Retail Services

    Directory of Open Access Journals (Sweden)

    劉孔中 Kung-Chung Liu

    2007-12-01

    Full Text Available 各國自1980 年代開始自由化電信市場時,紛紛改採用較具有效率誘因的價格調整上限法管制零售價格,以電信業者技術或服務創新所帶來的效率增加⎯⎯所謂的效率因子或調整係數X 值⎯⎯扣除通貨膨脹或其他總體經濟變數變動後之數值,作為其調整價格之上限。國家通訊傳播委員會(NCC)審酌電信事業生產經營效率、各國費率水平及平均降幅、各國監理機關所訂X 值範圍及保障消費者權益等五個因素,於2006 年底公告新的X 值:ADSL電路出租為△CPI + 5.35%,900 兆赫及1800 兆赫行動電話業務中市話撥打行動電話的服務、預付資費方式的服務及月租型服務之不同費率選單中通信費單價最高者,均為△CPI + 4.88%。本文回顧實施零售價格調整上限制最有經驗的英國與美國聯邦(而不包括各州的零售價格管制),發現該制均盛極而衰,走向結束。本文檢討NCC 調整X 值之作法中三點可檢討之處:1.未要求中華電信舉證其ADSL 之成本與利潤,錯失進一步合理降低ADSL 價格的機會;2.要求連續三年調降月租型行動電話服務不同費率選單中通信費單價最高通信費4.88%,並非針對競爭不足的特定業務;3.未充分說明調整係數 X 之組成元素。本文最後點出事前管制零售價格的必要性會日益降低,故應該加強電信業者間資費管制的研究與規範。 When liberalizing telecom markets in the 1980s, countries world over adopted the price cap regime to regulate retail prices that telecom companies may charge their customers. Under price cap telecom companies may not raise the retail prices above the level where efficiency gains—commonly known as the efficiency factor or X factor-minus inflation rate. The National Communications Commission (NCC promulgated new X factors for various telecom services at the end of 2006: X for ADSL is

  2. Benefit assessment in Germany: implications for price discounts.

    Science.gov (United States)

    Theidel, Ulrike; von der Schulenburg, J-Matthias Graf

    2016-12-01

    The AMNOG regulation, introduced in 2011 in Germany, changed the game for new drugs. Now, the industry is required to submit a dossier to the GBA (the central decision body in the German sickness fund system) to show additional benefit. After granting the magnitude of the additional benefit by the GBA, the manufacturer is entitled to negotiate the reimbursement price with the GKV-SV (National Association of Statutory Health Insurance Funds). The reimbursement price is defined as a discount on the drug price at launch. As the price or discount negotiations between the manufacturers and the GKV-SV takes place behind closed doors, the factors influencing the results of the negotiation are not known. The aim of this evaluation is to identify factors influencing the results of the AMNOG price negotiation process. The analysis was based on a dataset containing detailed information on all assessments until the end of 2015. A descriptive analysis was followed by an econometric analysis of various potential factors (benefit rating, size of target population, deviating from appropriate comparative therapy and incorporation of HRQoL-data). Until December 2015, manufacturers and the GKV-SV finalized 96 negotiations in 193 therapeutic areas, based on assessment conducted by the GBA. The GBA has granted an additional benefit to 100/193 drug innovations. Negotiated discount was significantly higher for those drugs without additional benefit (p = 0.030) and non-orphan drugs (p = 0.015). Smaller population size, no deviation from recommended appropriate comparative therapy and the incorporation of HRQoL-data were associated with a lower discount on the price at launch. However, neither a uni- nor the multivariate linear regression showed enough power to predict the final discount. Although the AMNOG regulation implemented binding and strict rules for the benefit assessment itself, the outcome of the discount negotiations are still unpredictable. Obviously, negotiation

  3. Ownership Restrictions, Tax Competition and Transfer Pricing Policy

    NARCIS (Netherlands)

    Diaw, K.

    2004-01-01

    This paper analyzes tax/subsidy competition and transfer pricing regulation between governments involved in trade through a multinational firm and a joint venture using an input provided by the former.The paper takes into account the fact that in absence of bargaining, any model of such JV is

  4. Price elasticity estimates for tobacco products in India.

    Science.gov (United States)

    John, Rijo M

    2008-05-01

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

  5. Prize something, including quality. The price of supply interruption. On the search for φ. Technical report

    International Nuclear Information System (INIS)

    Baarsma, B.E.; Berkhout, P.H.G.; Hop, J.P.

    2004-04-01

    The Dutch Office of Energy Regulation (DTe) plans to adjust the present regulations with regard to regional electricity network companies. In 2002 an integrated model for pricing and quality regulations is drafted, which is expected to be implemented in 2005. This report serves as input for such a model. Quality is defined in terms of electricity supply disruptions. The aim of the study on the title subject is to determine prices for different types of power supply disruptions. The study is based on a survey among 12,400 households and nearly 2,500 small and medium-sized businesses in the Netherlands [nl

  6. Price control in contracts of heat supply. May no more index be used in automatic price escalator clauses?; Preiskontrolle in Waermeliefervertraegen.. Darf in automatischen Preisgleitklauseln kein Index mehr genutzt werden?

    Energy Technology Data Exchange (ETDEWEB)

    Legler, Dirk [Guenther Heidel Wollenteit Hack Goldmann, Hamburg (Germany)

    2010-03-15

    Automatic price escalator clauses using a price index are AGB legally permissible in heat supply contracts. The fact that such price indices necessarily compound and orient themselves only at its own development of delivery costs is so long innocuous since the selection of these indices essentially can be justified on the basis of objective criteria. However, if the heat supplier as a user of the AGB uses no indices, but passes its costs of acquisition in its price escalator clause simply to 100 %, this evenly can be inadmissible according to paragraph 24 sect. 3, sentence 1 of AVB district heating regulation. This is valid if such a 'servile' passing signifies a neglect of conditions on the market.

  7. Current economic cost, the ARENH (Regulated Access to the Historic (EDF) Nuclear Energy Supplier) price, the differential rent and the scarcity rent of nuclear power: some observations

    International Nuclear Information System (INIS)

    Percebois, J.

    2012-01-01

    This article sets out to explain the ARENH mechanism, the regulated price at which the EDF (France's historic monopoly supplier) must sell part of its production to its competitors in the framework of the Nome Act (New Organisation of the Electricity Market). This price by its nature is different from the Current Economic Cost (CEC) of nuclear power, as estimated by France's Government Accounting Office in its report submitted in January 2012. These two approaches revert to the problem of the determination of the scarcity rent of nuclear power in the context of the liberalised European market, in which nuclear power benefits from a 'cost' advantage relative to thermal electricity generated from fossil fuels. Furthermore, scarcity rent is not the same thing as differential rent. Selling a nuclear kWh at the price of a 'gas' kWh at certain times results in a differential rent enabling nuclear generated power to cover fixed costs. One can only speak of scarcity rent for nuclear power when the price at which the kWh is sold allows the recovery of more than is necessary to cover overall costs of nuclear power and it is this scarcity rent and its allocation that is the subject of debate. (author)

  8. The Questionable Economic Case for Value-Based Drug Pricing in Market Health Systems.

    Science.gov (United States)

    Pauly, Mark V

    2017-02-01

    This article investigates the economic theory and interpretation of the concept of "value-based pricing" for new breakthrough drugs with no close substitutes in a context (such as the United States) in which a drug firm with market power sells its product to various buyers. The interpretation is different from that in a country that evaluates medicines for a single public health insurance plan or a set of heavily regulated plans. It is shown that there will not ordinarily be a single value-based price but rather a schedule of prices with different volumes of buyers at each price. Hence, it is incorrect to term a particular price the value-based price, or to argue that the profit-maximizing monopoly price is too high relative to some hypothesized value-based price. When effectiveness of treatment or value of health is heterogeneous, the profit-maximizing price can be higher than that associated with assumed values of quality-adjusted life-years. If the firm sets a price higher than the value-based price for a set of potential buyers, the optimal strategy of the buyers is to decline to purchase that drug. The profit-maximizing price will come closer to a unique value-based price if demand is less heterogeneous. Copyright © 2017 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

  9. Effects of price manipulations on consumer behavior in sheltered workshop token economy.

    Science.gov (United States)

    Schroeder, S R; Barrera, F J

    1976-09-01

    The consumer behavior of institutionalized retarded clients in a sheltered workshop token economy were evaluated by changing prices in the workshop store. In the first experiment we found that clients displayed elasticity of demand in that raising the prices of frequently purchased goods reduced the frequency and amount spent on more expendable items. Results from the second experiment showed that this change in spending pattern was not due to the relative modal unit price of item classes. The regulation of demand for consumer goods is a potentially useful way to maintain economic balance and effectiveness of a token economy.

  10. Piracy prevention and the pricing of information goods

    OpenAIRE

    Cremer, Helmuth; Pestieau, Pierre

    2006-01-01

    This paper develops a simple model of piracy to analyze its effects on prices and welfare and to study the optimal enforcement policy. A monopolist produces an information good (involving a 'large' development cost and a 'small' reproduction cost) that is sold to two groups of consumers differing in their valuation of the good. We distinguish two settings: one in which the monopoly is regulated and one in which it maximizes profits and is not regulated, except that the public authority may be...

  11. Exporter Price Premia?

    DEFF Research Database (Denmark)

    Jäkel, Ina Charlotte; Sørensen, Allan

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

  12. Beyond the sticker price: including and excluding time in comparing food prices.

    Science.gov (United States)

    Yang, Yanliang; Davis, George C; Muth, Mary K

    2015-07-01

    An ongoing debate in the literature is how to measure the price of food. Most analyses have not considered the value of time in measuring the price of food. Whether or not the value of time is included in measuring the price of a food may have important implications for classifying foods based on their relative cost. The purpose of this article is to compare prices that exclude time (time-exclusive price) with prices that include time (time-inclusive price) for 2 types of home foods: home foods using basic ingredients (home recipes) vs. home foods using more processed ingredients (processed recipes). The time-inclusive and time-exclusive prices are compared to determine whether the time-exclusive prices in isolation may mislead in drawing inferences regarding the relative prices of foods. We calculated the time-exclusive price and time-inclusive price of 100 home recipes and 143 processed recipes and then categorized them into 5 standard food groups: grains, proteins, vegetables, fruit, and dairy. We then examined the relation between the time-exclusive prices and the time-inclusive prices and dietary recommendations. For any food group, the processed food time-inclusive price was always less than the home recipe time-inclusive price, even if the processed food's time-exclusive price was more expensive. Time-inclusive prices for home recipes were especially higher for the more time-intensive food groups, such as grains, vegetables, and fruit, which are generally underconsumed relative to the guidelines. Focusing only on the sticker price of a food and ignoring the time cost may lead to different conclusions about relative prices and policy recommendations than when the time cost is included. © 2015 American Society for Nutrition.

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

    Energy Technology Data Exchange (ETDEWEB)

    Agarwal, Pravin Kumar; Soni, Anmol

    2013-03-15

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

  14. Three essays on access pricing

    Science.gov (United States)

    Sydee, Ahmed Nasim

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

  15. A survey of utility experience with real time pricing: implications for policymakers seeking price responsive demand

    International Nuclear Information System (INIS)

    Barbose, Galen; Goldman, Charles; Neenan, Bernard

    2005-01-01

    Economists and policy makers frequently propose real time pricing (RTP) as a strategy for facilitating price responsive demand, thereby improving the performance of electricity markets and regional networks. While theoretically appealing, many practical and empirical issues related to RTP remain unresolved or poorly understood. Over the past two decades, more than 70 utilities in the U.S. have offered voluntary RTP tariffs, on either a pilot or permanent basis. However, most have operated in relative obscurity, and little information has made its way into the public domain. To address this gap, we conducted a conducted a comprehensive review of voluntary RTP programs in the U.S. by surveying 43 U.S. utilities and reviewing regulatory documents, tariffs, program evaluations, and other publicly available sources. Based on this review of RTP program experience, we identify key trends related to utilities' motivations and goals for implementing RTP, evolution of RTP tariff design, program participation, participant price response, and program outlook. Experience with voluntary RTP programs has been mixed. Several utilities have demonstrated that voluntary RTP programs are capable of generating significant load reductions. However, most programs have attracted relatively few participants and therefore have generated quite limited load reductions. About 2700 non-residential customers were enrolled in RTP programs in 2003, representing more than 11 000 MW of load. We then draw from these findings to identify implications for policy makers and regulators that are currently considering RTP as a strategy for facilitating price responsive demand

  16. Application of Derivatives Market for Controlling Risks of Commodity Prices

    Directory of Open Access Journals (Sweden)

    Rasuolė Drazdauskienė

    2015-05-01

    Full Text Available The issue of raw milk procurement cost level and fluctuation which inhibits strengthening negotiating positions of dairy product fabricants and probability of them staying competitive in the European Union, is examined. Scientific literature that analyzes risks of staple prices is overviewed in the article. The paper provides statistical data representing the situation of Lithuania in contrast with European Union rates. Global usage of prospective transactions and their possible influence on price regulation are analyzed. After examining statistical data and academic literature, conclusions are provided.

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

    NARCIS (Netherlands)

    Carvalho, M.

    2009-01-01

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

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

    NARCIS (Netherlands)

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

    2004-01-01

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

  19. 48 CFR 15.403-4 - Requiring certified cost or pricing data (10 U.S.C. 2306a and 41 U.S.C. 254b).

    Science.gov (United States)

    2010-10-01

    ... or pricing data (10 U.S.C. 2306a and 41 U.S.C. 254b). 15.403-4 Section 15.403-4 Federal Acquisition Regulations System FEDERAL ACQUISITION REGULATION CONTRACTING METHODS AND CONTRACT TYPES CONTRACTING BY NEGOTIATION Contract Pricing 15.403-4 Requiring certified cost or pricing data (10 U.S.C. 2306a and 41 U.S.C...

  20. Modelling the impact of oil prices on Vietnam's stock prices

    International Nuclear Information System (INIS)

    Narayan, Paresh Kumar; Narayan, Seema

    2010-01-01

    The goal of this paper is to model the impact of oil prices on Vietnam's stock prices. We use daily data for the period 2000-2008 and include the nominal exchange rate as an additional determinant of stock prices. We find that stock prices, oil prices and nominal exchange rates are cointegrated, and oil prices have a positive and statistically significant impact on stock prices. This result is inconsistent with theoretical expectations. The growth of the Vietnamese stock market was accompanied by rising oil prices. However, the boom of the stock market was marked by increasing foreign portfolio investment inflows which are estimated to have doubled from US$0.9 billion in 2005 to US$1.9 billion in 2006. There was also a change in preferences from holding foreign currencies and domestic bank deposits to stocks local market participants, and there was a rise in leveraged investment in stock as well as investments on behalf of relatives living abroad. It seems that the impact of these internal and domestic factors were more dominant than the oil price rise on the Vietnamese stock market. (author)

  1. Drug Pricing Reforms

    DEFF Research Database (Denmark)

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

    2015-01-01

    Reference price systems for prescription drugs have found widespread use as cost containment tools. Under such regulatory regimes, patients co-pay a fraction of the difference between pharmacy retail price of the drug and a reference price. Reference prices are either externally (based on drug...... prices in other countries) or internally (based on domestic drug prices) determined. In a recent study, we analysed the effects of a change from external to internal reference pricing in Denmark in 2005, finding that the reform led to substantial reductions in prices, producer revenues, and expenditures...... for patients and the health insurance system. We also estimated an increase in consumer welfare but the size effect depends on whether or not perceived quality differences between branded and other drugs are taken into account....

  2. Pricing hazardous substance emissions

    Energy Technology Data Exchange (ETDEWEB)

    Staring, Knut; Vennemo, Haakon

    1997-12-31

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

  3. Pricing hazardous substance emissions

    Energy Technology Data Exchange (ETDEWEB)

    Staring, Knut; Vennemo, Haakon

    1998-12-31

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

  4. Building the perfect PC

    CERN Document Server

    Thompson, Robert Bruce

    2006-01-01

    This popular Build-It-Yourself (BIY) PC book covers everything you want to know about building your own system: Planning and picking out the right components, step-by-step instructions for assembling your perfect PC, and an insightful discussion of why you'd want to do it in the first place. Most big brand computers from HP, Dell and others use lower-quality components so they can meet their aggressive pricing targets. But component manufacturers also make high-quality parts that you can either purchase directly, or obtain through distributors and resellers. Consumers and corporations

  5. ACCOUNTING ASPECTS OF PRICING AND TRANSFER PRICING

    OpenAIRE

    TÜNDE VERES

    2011-01-01

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

  6. Transfer Pricing

    DEFF Research Database (Denmark)

    Nielsen, Søren Bo

    2014-01-01

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

  7. Tobacco Pricing in Military Stores: Views of Military Policy Leaders.

    Science.gov (United States)

    Smith, Elizabeth A; Jahnke, Sara A; Poston, Walker S C; Malone, Ruth E; Haddock, Christopher K

    2016-10-01

    Higher tobacco taxes reduce tobacco use. On military installations, cigarettes and other tobacco products are sold tax-free, keeping prices artificially low. Pricing regulations in the military specify that tobacco should be within 5% of the local most competitive price, but prices still average almost 13% lower than those at local Walmarts. To gain insight into policy leaders' ideas and positions on military tobacco pricing, we interviewed members of the Department of Defense (DoD) Addictive Substances Misuse Advisory Committee and the Advisory Committee on Tobacco about tobacco pricing policies (n = 12). Participants frequently lacked specific knowledge of details of military pricing policy, and the impact higher prices might have on military tobacco use. Most participants thought tobacco should not be sold at military stores, but many also felt that this policy change was unlikely due to tobacco industry pressure, and DoD reliance on tobacco profits to support Morale, Welfare, and Recreation funds. Achieving a tobacco-free military will require changing pricing policy, but this study suggests that for effective implementation, military leadership must also understand and articulate more clearly the rationale for doing so. Previous work has found that adherence to military tobacco pricing policy is inconsistent at best. This study suggests that lack of knowledge about the policy and conflicting pressures resulting from the funding stream tobacco sales represent extend to high level military policy leaders. Without clearer information and direction, these leaders are unlikely to be able to establish and implement better tobacco pricing policy. © The Author 2016. Published by Oxford University Press on behalf of the Society for Research on Nicotine and Tobacco. All rights reserved. For permissions, please e-mail: journals.permissions@oup.com.

  8. Transfer Pricing and FDI

    Directory of Open Access Journals (Sweden)

    Patricia-Sabina Macelaru

    2013-08-01

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

  9. 5 CFR 591.214 - How does OPM collect prices?

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 1 2010-01-01 2010-01-01 false How does OPM collect prices? 591.214 Section 591.214 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT CIVIL SERVICE REGULATIONS ALLOWANCES AND DIFFERENTIALS Cost-of-Living Allowance and Post Differential-Nonforeign Areas Cost-Of-Living...

  10. State Approaches to Demand Reduction Induced Price Effects: Examining How Energy Efficiency Can Lower Prices for All

    Energy Technology Data Exchange (ETDEWEB)

    Taylor, Colin [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Hedman, Bruce [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Goldberg, Amelie [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)

    2015-12-01

    Effects (DRIPE) as a real, quantifiable benefit of energy efficiency and demand response programs. DRIPE is a measurement of the value of demand reductions in terms of the decrease in wholesale energy prices, resulting in lower total expenditures on electricity or natural gas across a given grid. Crucially for policymakers and consumer advocates, DRIPE savings accrue not only to the subset of customers who consume less, but to all consumers. Rate-paying customers realize DRIPE savings when price reductions across an electricity or natural gas system are passed on to all retail customers as lower rates (depending upon regulation and market structure, residual savings may be wholly or partially retained by utilities). DRIPE savings, though seemingly small in terms of percent price reductions or dollars per household, can amount to hundreds of millions of dollars per year across entire states or grids. Therefore, accurately assessing DRIPE benefits can help to ensure appropriate programs are designed and implemented for energy efficiency measures. This paper reviews the existing knowledge and experience from select U.S. states regarding DRIPE (including New York and Ohio), and the potential for expanded application of the concept of DRIPE by regulators. Policymakers and public utility commissions have a critical role to play in setting the methodology for determining DRIPE, encouraging its capture by utilities, and allocating DRIPE benefits among utilities, various groups of customers, and/or society at large. While the methodologies for estimating DRIPE benefits are still being perfected, policymakers can follow the examples of states such as Maryland and Vermont in including conservative DRIPE estimates in their resource planning.

  11. Natural gas pricing

    International Nuclear Information System (INIS)

    Freedenthal, C.

    1993-01-01

    Natural gas pricing is the heart and soul of the gas business. Price specifically affects every phase of the industry. Too low a price will result in short supplies as seen in the mid-1970s when natural gas was scarce and in tight supply. To fully understand the pricing of this energy commodity, it is important to understand the total energy picture. In addition, the effect and impact of world and US economies, and economics in general are crucial to understanding natural gas pricing. The purpose of this presentation will be to show the parameters going into US natural gas pricing including the influence of the many outside industry factors like crude oil and coal pricing, market drivers pushing the gas industry, supply/demand parameters, risk management for buyers and sellers, and other elements involved in pricing analysis

  12. The supply price control: issues for review

    International Nuclear Information System (INIS)

    Littlechild, S.

    1993-01-01

    In this article, the Director General of the Office of Electricity Regulation (OFFER) sets out the issues involved in the current review of supply price controls for the twelve regional electricity companies (RECs) in the United Kingdom. The Government's current energy policy is outlined, drawing a distinction between electricity from fossil and non-fossil fuel sources. RECs are obliged by the licencees to purchase economically and OFFER seeks to monitor this process, both within Government limits. This history of price controls is outlined and the author considers what form the next supply control should take, bearing in mind generation costs and aims towards energy efficiency. The OFFER consultative document has now been published and public debate of these issues will follow. (UK)

  13. 5 CFR 591.219 - How does OPM compute shelter price indexes?

    Science.gov (United States)

    2010-01-01

    ... REGULATIONS ALLOWANCES AND DIFFERENTIALS Cost-of-Living Allowance and Post Differential-Nonforeign Areas Cost-Of-Living Allowances § 591.219 How does OPM compute shelter price indexes? (a) In addition to rental...

  14. Testing causal relationships between wholesale electricity prices and primary energy prices

    International Nuclear Information System (INIS)

    Nakajima, Tadahiro; Hamori, Shigeyuki

    2013-01-01

    We apply the lag-augmented vector autoregression technique to test the Granger-causal relationships among wholesale electricity prices, natural gas prices, and crude oil prices. In addition, by adopting a cross-correlation function approach, we test not only the causality in mean but also the causality in variance between the variables. The results of tests using both techniques show that gas prices Granger-cause electricity prices in mean. We find no Granger-causality in variance among these variables. -- Highlights: •We test the Granger-causality among wholesale electricity and primary energy prices. •We test not only the causality in mean but also the causality in variance. •The results show that gas prices Granger-cause electricity prices in mean. •We find no Granger-causality in variance among these variables

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

    Science.gov (United States)

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

    2011-12-01

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

  16. An electricity price model with consideration to load and gas price effects.

    Science.gov (United States)

    Huang, Min-xiang; Tao, Xiao-hu; Han, Zhen-xiang

    2003-01-01

    Some characteristics of the electricity load and prices are studied, and the relationship between electricity prices and gas (fuel) prices is analyzed in this paper. Because electricity prices are strongly dependent on load and gas prices, the authors constructed a model for electricity prices based on the effects of these two factors; and used the Geometric Mean Reversion Brownian Motion (GMRBM) model to describe the electricity load process, and a Geometric Brownian Motion(GBM) model to describe the gas prices; deduced the price stochastic process model based on the above load model and gas price model. This paper also presents methods for parameters estimation, and proposes some methods to solve the model.

  17. Service quality and asymmetric information in the regulation of monopolies: The Chilean electricity distribution industry

    Science.gov (United States)

    Melo, Oscar Alfredo

    This study is an enquiry about the role that service quality, asymmetric information, scope of regulation and regulator's preferences play in the regulation of monopolies, with an application to the case of the Chilean electricity distribution industry. In Chapter 1, I present the problem of regulating a monopolist and introduce the special conditions that the electricity sector has. Later I discuss the main characteristics of the electricity system that operates in Chile. The literature on regulation is reviewed in Chapter 2. A special emphasis is given to the problems of quality and information, and the lack of its proper joint treatment. In Chapter 3, I develop four theoretical models of regulation that explicitly consider the regulation of price and quality versus price-only regulation, and a symmetric versus asymmetric information structure where only the regulator knows its true costs. In these models, I also consider the effect of a regulator that may have a preference between consumers and the regulated monopolistic firms. I conclude that with symmetric information and independent of the scope of regulation, having a regulator that prefers consumers or producers does not affect the efficiency of the outcome. I also show that the regulator's inability to set quality, thus regulating only price, leads to an inefficient outcome, away from the first best solution that can be achieved by regulating both price and quality, even with asymmetric information, as long as the regulator does not have a "biased" preference for consumers or the monopolistic producers. If the regulator has a "bias," then the equilibrium will be inefficient with asymmetric information. But the effect on equilibrium price and quality depends on the direction of the effect of quality on the marginal effect of price in demand. More importantly, no closed-form solution can be derived unless drastic simplifications are made. To further investigate the outcome of the models, I use numerical

  18. Formation and forecast of the daily price of the electric power in the chain Nare-Guatape-San Carlos

    International Nuclear Information System (INIS)

    Romero, Alejandro; Carvajal, Luis

    2003-01-01

    This work shows three different methodologies for the understanding and forecast of the electric energy prices in the chain Nare - Guatape - San Carlos: lineal multivariate model, autoregressive deterministic model and Fourier series decomposition. The electric energy price depends basically of the reservoir level and river flow, not only its own but the reservoir down and up, waters. About prices forecast, they can be modeled with an autoregressive process. Prices forecast follows the tendency and captures with acceptable precision the maximum prices due especially to the low hydrology and price variability for daily and weekly regulation reservoirs

  19. Tiered co-payments, pricing, and demand in reference price markets for pharmaceuticals.

    Science.gov (United States)

    Herr, Annika; Suppliet, Moritz

    2017-12-01

    Health insurance companies curb price-insensitive behavior and the moral hazard of insureds by means of cost-sharing, such as tiered co-payments or reference pricing in drug markets. This paper evaluates the effect of price limits - below which drugs are exempt from co-payments - on prices and on demand. First, using a difference-in-differences estimation strategy, we find that the new policy decreases prices by 5 percent for generics and increases prices by 4 percent for brand-name drugs in the German reference price market. Second, estimating a nested-logit demand model, we show that consumers appreciate co-payment exempt drugs and calculate lower price elasticities for brand-name drugs than for generics. This explains the different price responses of brand-name and generic drugs and shows that price-related co-payment tiers are an effective tool to steer demand to low-priced drugs. Copyright © 2017 Elsevier B.V. All rights reserved.

  20. Pricing of electricity in a time of change - some key issues

    International Nuclear Information System (INIS)

    Mostert, W.

    1995-01-01

    The paper covers four topics: (I) what does full cost coverage mean in the Eastern European power sector, (II) LRMC (Long Run Marginal Cost) pricing in regulated utilities versus free market prices; (III) limits to the internalization of external costs in fuel pricing, (IV) pricing of IPPs (Independent Power Producer). The paper argues that the tariff which allows full cost coverage in the Eastern European power sector should be defined as the minimum tariff which allows 30% self-financing of investments and a rate of return of at least 5% on invested assets. The appropriate level of self-financing relates to the appropriate capital structure of the company; the rate of return to the ability to attract finance in the long run. During the last twenty years there has been general consensus among power economists that the application of the LRMC pricing principle for the setting of tariffs was the best principle to ensure efficiency on both the demand as well as the supply side. In free markets involving TPA (Third Party Access) and spot markets, that principle can no longer be applied. In times of scarcity, prices will be above LMRC; in times of surplus capacity below LRMC. Economists have argued for years that external costs and benefits have to be ''internalized'' in tariffs and prices in order to provide consumers and investors with the right pricing principles

  1. Recovering a time-homogeneous stock price process from perpetual option prices

    OpenAIRE

    Ekström, Erik; Hobson, David

    2009-01-01

    It is well known how to determine the price of perpetual American options if the underlying stock price is a time-homogeneous diffusion. In the present paper we consider the inverse problem, that is, given prices of perpetual American options for different strikes, we show how to construct a time-homogeneous stock price model which reproduces the given option prices.

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

    Science.gov (United States)

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

    2016-01-01

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

  3. 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

  4. Gas Price Formation, Structure and Dynamics

    Energy Technology Data Exchange (ETDEWEB)

    Davoust, R.

    2008-07-01

    Our study, focused on gas prices in importing economies, describes wholesale prices and retail prices, their evolution for the last one or two decades, the economic mechanisms of price formation. While an international market for oil has developed thanks to moderate storage and transportation charges, these costs are much higher in the case of natural gas, which involves that this energy is still traded inside continental markets. There are three regional gas markets around the world: North America (the United States, importing mainly from Canada and Mexico), Europe (importing mainly from Russia, Algeria and Norway) and Asia (Japan, Korea, Taiwan, China and India, importing mainly from Indonesia, Malaysia and Australia). A market for gas has also developed in South America, but it will not be covered by our paper. In Europe and the US, due to large domestic resources and strong grids, natural gas is purchased mostly through pipelines. In Northeast Asia, there is a lack of such infrastructures, so imported gas takes mainly the form of Liquefied Natural Gas (LNG), shipped on maritime tankers. Currently, the LNG market is divided into two zones: the Atlantic Basin (Europe and US) and the Pacific Basin (Asia and the Western Coast of America). For the past few years, the Middle East and Africa have tended to be crucial suppliers for both LNG zones. Gas price formation varies deeply between regional markets, depending on several structural factors (regulation, contracting practises, existence of a spot market, liquidity, share of imports). Empirically, the degree of market opening (which corresponds to the seniority in the liberalization process) seems to be the primary determinant of pricing patterns. North America has the most liberalized and well-performing natural gas industry in the world. Gas pricing is highly competitive and is based on supply/demand balances. Spot and futures markets are developed. The British gas sector is also deregulated and thus follows a

  5. Gas Price Formation, Structure and Dynamics

    International Nuclear Information System (INIS)

    Davoust, R.

    2008-01-01

    Our study, focused on gas prices in importing economies, describes wholesale prices and retail prices, their evolution for the last one or two decades, the economic mechanisms of price formation. While an international market for oil has developed thanks to moderate storage and transportation charges, these costs are much higher in the case of natural gas, which involves that this energy is still traded inside continental markets. There are three regional gas markets around the world: North America (the United States, importing mainly from Canada and Mexico), Europe (importing mainly from Russia, Algeria and Norway) and Asia (Japan, Korea, Taiwan, China and India, importing mainly from Indonesia, Malaysia and Australia). A market for gas has also developed in South America, but it will not be covered by our paper. In Europe and the US, due to large domestic resources and strong grids, natural gas is purchased mostly through pipelines. In Northeast Asia, there is a lack of such infrastructures, so imported gas takes mainly the form of Liquefied Natural Gas (LNG), shipped on maritime tankers. Currently, the LNG market is divided into two zones: the Atlantic Basin (Europe and US) and the Pacific Basin (Asia and the Western Coast of America). For the past few years, the Middle East and Africa have tended to be crucial suppliers for both LNG zones. Gas price formation varies deeply between regional markets, depending on several structural factors (regulation, contracting practises, existence of a spot market, liquidity, share of imports). Empirically, the degree of market opening (which corresponds to the seniority in the liberalization process) seems to be the primary determinant of pricing patterns. North America has the most liberalized and well-performing natural gas industry in the world. Gas pricing is highly competitive and is based on supply/demand balances. Spot and futures markets are developed. The British gas sector is also deregulated and thus follows a

  6. On distributive effects of optimal regulation for power grid expansion

    International Nuclear Information System (INIS)

    Herrera, Luis Ángel; Rosellón, Juan

    2014-01-01

    To date, the distributive implications of incentive regulation on electricity transmission networks have not been explicitly studied in the literature. More specifically, the parameters that a regulator might use to achieve distributive efficiency under price-cap regulation have not yet been identified. To discern these parameters is the motivation for the research presented in this paper. We study how different weight parameters affect the distributive characteristics of optimal price-cap incentive regulation for electricity transmission. We find that a regulator's use of ideal (Laspeyres) weights tends to be more beneficial for the Transco (consumers) than for consumers (the Transco). - Highlights: • Distributive implications of incentive regulation on transmission networks have not been studied in the literature. • The parameters that a regulator might use to achieve distributive efficiency have so far not been explicitly analyzed. • Analyze how different weights affect the distributive characteristics of price-cap regulation in electricity transmission. • Results: ideal (Laspeyres) weights tend to be more beneficial for the Transco (consumers) than for consumers (the Transco)

  7. The effects of utility DSM programs on electricity costs and prices

    Energy Technology Data Exchange (ETDEWEB)

    Hirst, E.

    1991-11-01

    More and more US utilities are running more and larger demand-side management (DSM) programs. Assessing the cost-effectiveness of these programs raises difficult questions for utilities and their regulators. Should these programs aim to minimize the total cost of providing electric-energy services or should they minimize the price of electricity? This study offers quantitative estimates on the tradeoffs between total costs and electricity prices. This study uses a dynamic model to assess the effects of energy-efficiency programs on utility revenues, total resource costs, electricity prices, and electricity consumption for the period 1990 to 2010. These DSM programs are assessed under alternative scenarios. In these cases, fossil-fuel prices, load growth, the amount of excess capacity the utility has in 1990, planned retirements of power plants, the financial treatment of DSM programs, and the costs of energy- efficient programs vary. These analyses are conducted for three utilities: a ``base`` that is typical of US utilities; a ``surplus`` utility that has excess capacity, few planned retirements, and slow growth in fossil-fuel prices and incomes; and a ``deficit`` utility that has little excess capacity, many planned retirements, and rapid growth in fossil-fuel prices and incomes. 28 refs.

  8. How Does Pricing of Day-ahead Electricity Market Affect Put Option Pricing?

    Directory of Open Access Journals (Sweden)

    H. Raouf Sheybani

    2016-09-01

    Full Text Available In this paper, impacts of day-ahead market pricing on behavior of producers and consumers in option and day-ahead markets and on option pricing are studied. To this end, two comprehensive equilibrium models for joint put option and day-ahead markets under pay-as-bid and uniform pricing in day-ahead market are presented, respectively. Interaction between put option and day-ahead markets, uncertainty in fuel price, day-ahead market pricing, and elasticity of consumers to strike price, premium price, and day-ahead price are taken into account in these models. By applying the presented models to a test system impact of day-ahead market pricing on equilibrium of joint put option and day-ahead markets are studied.

  9. Gold prices

    OpenAIRE

    Joseph G. Haubrich

    1998-01-01

    The price of gold commands attention because it serves as an indicator of general price stability or inflation. But gold is also a commodity, used in jewelry and by industry, so demand and supply affect its pricing and need to be considered when gold is a factor in monetary policy decisions.

  10. RESEL REKABETİN SUNDUĞU FIRSATLAR ve TEHDİTLER BAĞLAMINDA KOBİ’LERDE STRATEJİK YENİLİK YÖNETİMİ: SWOT ANALİZİNE DAYALI KURAMSAL BİR DEĞERLENDİRME

    OpenAIRE

    AKGEMCİ, Tahir; ÖĞÜT, Adem; AY TOSUN, Mevhibe

    2005-01-01

    resel rekabet sisteminde işletmeler ürün ve hizmet sundukları pazarlarda daha iyi müşteri değeri yaratarak rakipleri karşısında çok farklı araçlar ve yöntemlerle rekabet üstünlüğü elde etmeye çalışmaktadırlar. Pazarda rakiplere karşı fiyat ve kalite üstünlüğü oluşturmak ya da müşteri isteklerine hızlı ve güvenilir cevaplar vermek bu araç ve yöntemlerden bazılarıdır. Dünya ekonomisi dikkate alındığında işletmelerin %95’ini oluşturan KOBİ’lerin büyük işletmelerle kıyaslandıklarında bazı avant...

  11. Gas prices deregulation: how to play the game well?

    International Nuclear Information System (INIS)

    Petitot, Pauline

    2014-01-01

    At the instigation of the European Union and in a context of increasing deregulation, the end of regulated gas prices in France is coming soon. Suppliers and consumers concerned are actively preparing themselves to take the turn of gas market liberalization. This short paper reveals their strategies

  12. ASSORTMENT AND PRICE POLICY OF STATE PHARMACIES OF MOSCOW

    Directory of Open Access Journals (Sweden)

    I. V. Voronovich

    2015-01-01

    Full Text Available The most important index which determines the level and quality of pharmaceutical support is the correspondence of assortment to consumers needs. Assortment policy is determined by the functions implemented, and the problems of organization of pharmaceutical support of medicinal organizations within the frameworks of substantiated and reasonable expenditure of budget funds, and affordable pharmaceutical support of the population. The purpose of this research was the study of assortment and price policy of state pharmacies of Moscow. The objects were pharmacy subdivisions of state pharmacy network of Moscow. We have used sociological methods (questionnaire, interviewing, method of marketing, and statistic analysis. We have studied the assortment structure, assortment groups’ distribution on price segments. We have established that the drugs, more than 60% of which are foreign-made occupied more than a half of the assortment. Medicinal drugs in 50 rubles price spectrum occupy the biggest share of pharmacy assortment. Distribution within every assortment group revealed that more than a half of drugs are in average price spectrum from 50 to 500 rubles. Average charge for VED amounts to 21.87%, and for drugs which were not included in VED list – 34.07%. The charge for the goods, the price of which is not regulated, trade charge is more. 

  13. Modeling the relationship between the oil price and global food prices

    International Nuclear Information System (INIS)

    Chen, Sheng-Tung; Kuo, Hsiao-I; Chen, Chi-Chung

    2010-01-01

    The growth of corn-based ethanol production and soybean-based bio-diesel production following the increase in the oil prices have significantly affect the world agricultural grain productions and its prices. The main purpose of this paper is to investigate the relationships between the crude oil price and the global grain prices for corn, soybean, and wheat. The empirical results show that the change in each grain price is significantly influenced by the changes in the crude oil price and other grain prices during the period extending from the 3rd week in 2005 to the 20th week in 2008 which implies that grain commodities are competing with the derived demand for bio-fuels by using soybean or corn to produce ethanol or bio-diesel during the period of higher crude oil prices in these recent years. The subsidy policies in relation to the bio-fuel industries in some nations engaging in bio-fuel production should be considered to avoid the consequences resulting from high oil prices. (author)

  14. Cost accounting models used for price-setting of health services: an international review.

    Science.gov (United States)

    Raulinajtys-Grzybek, Monika

    2014-12-01

    The aim of the article was to present and compare cost accounting models which are used in the area of healthcare for pricing purposes in different countries. Cost information generated by hospitals is further used by regulatory bodies for setting or updating prices of public health services. The article presents a set of examples from different countries of the European Union, Australia and the United States and concentrates on DRG-based payment systems as they primarily use cost information for pricing. Differences between countries concern the methodology used, as well as the data collection process and the scope of the regulations on cost accounting. The article indicates that the accuracy of the calculation is only one of the factors that determine the choice of the cost accounting methodology. Important aspects are also the selection of the reference hospitals, precise and detailed regulations and the existence of complex healthcare information systems in hospitals. Copyright © 2014 Elsevier Ireland Ltd. All rights reserved.

  15. Energy prices and taxes

    International Nuclear Information System (INIS)

    2004-01-01

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

  16. U.S. regulators reject proposal to subsidize nuclear and coal power prices

    International Nuclear Information System (INIS)

    Kraemer, Jay R.

    2018-01-01

    On January 8, 2018, the U.S. Federal Energy Regulatory Commission (''FERC'') unanimously rejected a rulemaking proposed by Secretary of Energy Rick Perry designed to enable the owners of coal and nuclear power plants to charge higher prices for their output, and thereby to prevent further premature retirements of such plants. The FERC has exclusive authority, under the Federal Power Act, to establish rules for interstate wholesale sales of electricity. Although the FERC simultaneously initiated a new proceeding to consider how to enhance the resilience of electricity supply and delivery in the U.S., that proceeding seems unlikely to offer near-term relief to nuclear plants that are approaching closure due to their inability to compete economically both with facilities fueled by low-priced natural gas and with renewable power sources benefitting from favorable tax provisions. Accordingly, the American nuclear power industry will probably have to look elsewhere for relief from its present dire economic circumstances.

  17. Combined natural gas and electricity network pricing

    Energy Technology Data Exchange (ETDEWEB)

    Morais, M.S.; Marangon Lima, J.W. [Universidade Federal de Itajuba, Rua Dr. Daniel de Carvalho, no. 296, Passa Quatro, Minas Gerais, CEP 37460-000 (Brazil)

    2007-04-15

    The introduction of competition to electricity generation and commercialization has been the main focus of many restructuring experiences around the world. The open access to the transmission network and a fair regulated tariff have been the keystones for the development of the electricity market. Parallel to the electricity industry, the natural gas business has great interaction with the electricity market in terms of fuel consumption and energy conversion. Given that the transmission and distribution monopolistic activities are very similar to the natural gas transportation through pipelines, economic regulation related to the natural gas network should be coherent with the transmission counterpart. This paper shows the application of the main wheeling charge methods, such as MW/gas-mile, invested related asset cost (IRAC) and Aumman-Shapley allocation, to both transmission and gas network. Stead-state equations are developed to adequate the various pricing methods. Some examples clarify the results, in terms of investments for thermal generation plants and end consumers, when combined pricing methods are used for transmission and gas networks. The paper also shows that the synergies between gas and electricity industry should be adequately considered, otherwise wrong economic signals are sent to the market players. (author)

  18. 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

  19. Psychological Prices and Price Rigidity in Grocery Retailing: Analysis of German Scanner Data

    OpenAIRE

    Herrmann, Roland; Moeser, Anke

    2005-01-01

    A substantial degree of price rigidity has been reported for branded foods in various studies with scanner data. One possible explanation for price rigidity is the existence of psychological pricing points. We analyze to which extent psychological pricing plays a role in grocery retailing and whether it contributes to price rigidity of branded foods in Germany. Psychological pricing defined here as just-below-the-round-figure-pricing is empirically analyzed with scanner data of weekly prices ...

  20. Value-based pricing

    OpenAIRE

    Netseva-Porcheva Tatyana

    2010-01-01

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