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Sample records for sales price index

  1. A Countrywide House Price Index for 152 Years

    DEFF Research Database (Denmark)

    Lunde, Jens; Helding Madsen, Anders; Lundbæk Laursen, Maria

    for Herengracht (the Netherlands), Norway, USA, France, and recently also Australia. Until now, the here presented house price index for Denmark is the longest countrywide house price index ever been published, based on official data, and qualitatively probably the best long house price index....... in house prices is depicted. The Danish house price index covering all the 152 years is in reality a simple average sale price index for houses. From 1920 on it was possible to construct another and a “pure” house price index, based on the Sales Price Appraisal Ratio (SPAR) method. Several challenges...... for creating the house price index arose, especially in converting the previous registered house prices in the statistics into current market prices. In real terms, the average sale price index increased more than the SPAR index for the years where the two indices were compared, and the difference express...

  2. The measurement of house prices : A review of the sale price appraisal ratio method

    NARCIS (Netherlands)

    De Haan, J.; Van der Wal, E.B.; De Vries, P.

    2009-01-01

    The sale price appraisal ratio (SPAR) method has been applied in a number of countries to construct house price indexes. This paper reviews the statistical and index number properties of the SPAR approach. Three types of SPAR indexes are distinguished: a weighted index, which aims at tracking the

  3. Repeat Assessed Values Model for Housing Price Index

    Directory of Open Access Journals (Sweden)

    Carini Manuela

    2017-12-01

    Full Text Available This study proposes an innovative methodology, named Repeat Appraised Price Model (RAV, useful for determining the price index numbers for real estate markets and the corresponding index numbers of hedonic prices of main real estate characteristics in the case of a lack of data. The methodological approach proposed in this paper aims to appraise the time series of price index numbers. It integrates the principles of the method of repeat sales with the peculiarities of the Hedonic Price Method, overcoming the problem of an almost total absence of repeat sales for the same property in a given time range; on the other hand, the technique aims to overcome the limitation of the repeat sales technique concerning the inability to take into account the characteristics of individual properties.

  4. 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...

  5. Fire Sales and House Prices

    DEFF Research Database (Denmark)

    Andersen, Steffen; Meisner Nielsen, Kasper

    We exploit a natural experiment in Denmark to investigate when forced sales lead to fire sale discounts. Forced sales result from sudden deaths of house owners in an institutional environment in which beneficiaries are forced to settle the estate, and hence sell the house, within 12 months. We...... and the urgency of the sale also affect the average discount: Discounts are larger when house prices contract, in thin markets where demand is lower, and when the sale is more likely to be a fire sale because of financial or liquidity constraints. Late fire sales are more likely when the house price...... forced sales lead to fire sale discounts....

  6. Effects of yearling sale purchase price, exercise history, lameness, and athletic performance on purchase price of Thoroughbreds at 2-year-old in-training sales.

    Science.gov (United States)

    Preston, Stephanie A; Brown, Murray P; Chmielewski, Terese L; Trumble, Troy N; Zimmel, Dana N; Hernandez, Jorge A

    2012-12-01

    To determine the effects of yearling sale purchase price, exercise history, lameness, and athletic performance (speed) on purchase price of 2-year-old in-training Thoroughbreds and to compare the distance exercised within 60 days prior to 2-year-old in-training sales between horses with high yearling sale purchase prices versus those with low yearling sale purchase prices and between horses with lameness during training and those without lameness during training. Prospective study. 51 Thoroughbreds. Thoroughbreds purchased at a yearling sale were trained prior to resale at 2-year-old in-training sales. Amount of exercise and lameness status during training and speed of horses at 2-year-old in-training sales were determined. Data were analyzed via the Wilcoxon rank sum test and ANOVA. Median purchase price of horses at 2-year-old in-training sales was $37,000. The 2-year-old in-training sale purchase price was associated with yearling sale purchase price and distance galloped within 60 days prior to and speed recorded at 2-year-old in-training sales. Horses with high yearling sale purchase prices typically had high 2-year-old in-training sale purchase prices, had low distances galloped within 60 days prior to 2-year-old in-training sales, and were classified as fast at 2-year-old in-training sales. Lameness alone was not associated with 2-year-old in-training sales purchase price. However, lameness was associated with a low distance galloped before 2-year-old in-training sales, particularly for horses with a high yearling sale purchase price; this finding suggested that yearling sale purchase price can affect training management decisions for horses with lameness.

  7. Soft drink prices, sales, body mass index and diabetes: Evidence from a panel of low-, middle- and high-income countries.

    Science.gov (United States)

    Goryakin, Yevgeniy; Monsivais, Pablo; Suhrcke, Marc

    2017-12-01

    We take advantage of four different cross-country datasets containing data on 78 countries for the period 1999-2014, in order to assess the relationship of carbonated soft drinks' sales, as well as their prices, with body mass index (BMI), overweight, obesity and diabetes. Using an ecological study design and multivariate regression longitudinal estimation approaches, we find that carbonated soft drink sales were significantly positively related to BMI, overweight and obesity - but only in the low and lower-middle income countries. This finding was robust to a number of sensitivity and falsification checks. In this sub-sample, an increase in per capita soft drink sales by 1 litre per year was related to an increase of BMI by about 0.009 kg/m 2 (p < 0.1).. This is a small effect, implying that halving annual consumption per capita in this group of countries would result in a drop of BMI by only about 0.03 kg/m 2 . Although soft drink prices were negatively related to weight-related outcomes in the sample of higher middle income and high income countries, this finding was not robust to falsification checks. The results thus suggest that sales restrictions to steer consumers away from soft drinks could indeed have a beneficial health effects in poorer countries, although the effect magnitude appears to be very small. However, given potential limitations of using ecological research design, results from individual level studies would be required to further ascertain the role of soft drink sales and prices in obesity and diabetes.

  8. 27 CFR 53.95 - Constructive sale price; basic rules.

    Science.gov (United States)

    2010-04-01

    ... to influence the sale price, or (2) The sale is made pursuant to special arrangements between a... 27 Alcohol, Tobacco Products and Firearms 2 2010-04-01 2010-04-01 false Constructive sale price... AMMUNITION Special Provisions Applicable to Manufacturers Taxes § 53.95 Constructive sale price; basic rules...

  9. 26 CFR 148.1-5 - Constructive sale price.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 17 2010-04-01 2010-04-01 false Constructive sale price. 148.1-5 Section 148.1... § 148.1-5 Constructive sale price. (a) Purpose of this section. The purpose of this section is to set forth temporary rules to be used in determining a constructive sale price under section 4216(b) of the...

  10. On the Importance of Sales for Aggregate Price Flexibility

    OpenAIRE

    Nicolas Vincent; Oleksiy Kryvtsov

    2015-01-01

    Macroeconomists have traditionally ignored the behavior of temporary price markdowns ("sales") by retailers. Although sales are common in the micro price data, they are assumed to be unrelated to macroeconomic phenomena and generally filtered out. We challenge this view. First, using the 1996 - 2012 data set of the U.K. CPI monthly price quotes, we document a roughly twofold increase in the frequency of sales during the Great Recession. We also present evidence of countercyclical sales in the...

  11. Impact of Rainfall, Sales Method, and Time on Land Prices

    OpenAIRE

    Stephens, Steve; Schurle, Bryan

    2013-01-01

    Land prices in Western Kansas are analyzed using regression to estimate the influence of rainfall, sales method, and time of sale. The estimates from regression indicate that land prices decreased about $27 for each range that was farther west which can be converted to about $75 per inch of average rainfall. In addition, the influence of method of sale (private sale or auction) is estimated along with the impact of time of sale. Auction sales prices are approximately $100 higher per acre than...

  12. Relationship between performance measurements and sale price of ...

    African Journals Online (AJOL)

    Unknown

    Abstract. The sale prices of 1 609 Dorper rams sold between 1990 and 1999 were compared with their measured performances. An analysis of variance was carried out in order to determine which variables influenced sale price. The most importance factors were classification (stud vs. commercial), auction weight and coat ...

  13. 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...

  14. 26 CFR 48.4216(b)-2 - Constructive sale price; basic rules.

    Science.gov (United States)

    2010-04-01

    ... there is common control, whether or not such control is actually exercised to influence the sale price... 26 Internal Revenue 16 2010-04-01 2010-04-01 true Constructive sale price; basic rules. 48.4216(b... to Manufacturers Taxes § 48.4216(b)-2 Constructive sale price; basic rules. (a) In general. Section...

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

    Science.gov (United States)

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

    2015-12-01

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

  16. 26 CFR 1.338-4 - Aggregate deemed sale price; various aspects of taxation of the deemed asset sale.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 4 2010-04-01 2010-04-01 false Aggregate deemed sale price; various aspects of taxation of the deemed asset sale. 1.338-4 Section 1.338-4 Internal Revenue INTERNAL REVENUE SERVICE... Aggregate deemed sale price; various aspects of taxation of the deemed asset sale. (a) Scope. This section...

  17. Price sensitive demand with random sales price - a newsboy problem

    Science.gov (United States)

    Sankar Sana, Shib

    2012-03-01

    Up to now, many newsboy problems have been considered in the stochastic inventory literature. Some assume that stochastic demand is independent of selling price (p) and others consider the demand as a function of stochastic shock factor and deterministic sales price. This article introduces a price-dependent demand with stochastic selling price into the classical Newsboy problem. The proposed model analyses the expected average profit for a general distribution function of p and obtains an optimal order size. Finally, the model is discussed for various appropriate distribution functions of p and illustrated with numerical examples.

  18. 27 CFR 53.91 - Charges to be included in sale price.

    Science.gov (United States)

    2010-04-01

    ... or display of the article, for sales promotion programs, or otherwise. With respect to the rules... sale price. 53.91 Section 53.91 Alcohol, Tobacco Products and Firearms ALCOHOL AND TOBACCO TAX AND... AMMUNITION Special Provisions Applicable to Manufacturers Taxes § 53.91 Charges to be included in sale price...

  19. Pricing Model for Dual Sales Channel with Promotion Effect Consideration

    OpenAIRE

    Chuiri Zhou

    2016-01-01

    We focus on the pricing strategy of a dual sales channel member when his/her online retailer faces an upcoming overloaded express delivery service due to the sales peak of online shopping, especially referring to the occurring affairs in China. We characterize the pricing problem of the dual selling channel system as a two-period game. When the price discount is only provided by the online seller, we find that the prices of the traditional channel and the online channel in the two periods are...

  20. 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,…

  1. Pricing Model for Dual Sales Channel with Promotion Effect Consideration

    Directory of Open Access Journals (Sweden)

    Chuiri Zhou

    2016-01-01

    Full Text Available We focus on the pricing strategy of a dual sales channel member when his/her online retailer faces an upcoming overloaded express delivery service due to the sales peak of online shopping, especially referring to the occurring affairs in China. We characterize the pricing problem of the dual selling channel system as a two-period game. When the price discount is only provided by the online seller, we find that the prices of the traditional channel and the online channel in the two periods are higher while the overloaded degree of express delivery is lower and the overloaded delivery services can decrease the profits of both channels. When the price discounts are provided by both traditional and online sellers, we find that the derived Nash price equilibrium of both channels includes five possible combinations of prices. Both traditional and online sellers will choose their price strategies, respectively, according to their cost advantages which are affected by the overloaded degree of express delivery.

  2. Effect of price changes in little cigars and cigarettes on little cigar sales: USA, Q4 2011–Q4 2013

    Science.gov (United States)

    Gammon, Doris G; Loomis, Brett R; Dench, Daniel L; King, Brian A; Fulmer, Erika B; Rogers, Todd

    2016-01-01

    Introduction Little cigars are comparable to cigarettes in terms of shape, size, filters and packaging. Disproportionate tobacco excise taxes, which directly affect purchase price, may lead consumers to substitute cigarettes with less expensive little cigars. This study estimated the effects of little cigar and cigarette prices on little cigar sales. Methods Sales data from a customised retail scanner database were used to model a log–log equation to infer own-price and cross-price elasticity of demand for little cigars relative to little cigar and cigarette prices, respectively, from quarter 4 of 2011 to quarter 4 of 2013. Data were available for convenience stores (C-stores) (n=29 states); food, drug and mass merchandisers (FDMs) (n=44 states); and C-stores and FDMs combined (n=27 states). The dependent variable was per capita little cigar pack sales, and key independent variables were the price index for little cigars and cigarettes. Results A 10% increase in little cigar price was associated with a 25% (pprice was associated with a 21.5% (ppriced little cigars. Increasing and equalising prices among comparable products, like cigarettes and little cigars, may motivate cost-conscious smokers to quit. PMID:26357952

  3. National and State-Specific Sales and Prices for Electronic Cigarettes-U.S., 2012-2013.

    Science.gov (United States)

    Loomis, Brett R; Rogers, Todd; King, Brian A; Dench, Daniel L; Gammon, Doris G; Fulmer, Erika B; Agaku, Israel T

    2016-01-01

    The growing market for electronic cigarettes (e-cigarettes) has been widely reported in the media, but very little objective data exist in the scientific literature, and no data have been published on state-specific trends in prices or sales. Our objective is to assess state-specific annual sales and average prices for e-cigarettes in the U.S. Commercial retail scanner data were used to assess total dollar sales and average price per unit for disposable e-cigarettes, starter kits, and cartridge refills for selected states and the total U.S. during 2012-2013. Data were analyzed in 2014. Data were available for convenience stores (29 states) and food, drug, and mass merchandisers (44 states). In convenience stores, dollar sales increased markedly during 2012-2013: 320.8% for disposable e-cigarettes, 72.4% for starter kits, and 82% for cartridges. In food, drug, and mass merchandisers, dollar sales increased 49.5% for disposable e-cigarettes, 89.4% for starter kits, and 126.2% for cartridges. Average prices across all product categories increased in convenience stores and decreased in food, drug, and mass merchandisers. Sales and prices varied substantially across states included in the analyses. Sales of all e-cigarette device types grew considerably in convenience stores and food, drug, and mass merchandisers during 2012-2013. The market for e-cigarettes is growing rapidly, resulting in dynamic sales and price changes that vary across the U.S. Continued state-specific surveillance of the e-cigarette market is warranted. Copyright © 2016 American Journal of Preventive Medicine. All rights reserved.

  4. 27 CFR 53.100 - Exclusion of local advertising charges from sale price.

    Science.gov (United States)

    2010-04-01

    ... television station, appears in a newspaper or magazine, or is displayed by means of an outdoor advertising... advertising charges from sale price. 53.100 Section 53.100 Alcohol, Tobacco Products and Firearms ALCOHOL AND... advertising charges from sale price. (a) In general. Section 4216(e) of the Code deals with the treatment to...

  5. Price premium of organic salmon in Danish retail sale

    DEFF Research Database (Denmark)

    Ankamah Yeboah, Isaac; Nielsen, Max; Nielsen, Rasmus

    2016-01-01

    for organic salmon in Danish retail sale using consumer panel scanner data from households by applying a random effect hedonic price model that permits unobserved household heterogeneity. A price premium of 20% was identified for organic salmon. The magnitude of this premium is comparable to organic labeled...

  6. Medicare Part B Drug Average Sales Pricing Files

    Data.gov (United States)

    U.S. Department of Health & Human Services — Manufacturer reporting of Average Sales Price (ASP) data - A manufacturers ASP must be calculated by the manufacturer every calendar quarter and submitted to CMS...

  7. Sales Trends in Price-Discounted Cigarettes, Large Cigars, Little Cigars, and Cigarillos-United States, 2011-2016.

    Science.gov (United States)

    Wang, Teresa W; Falvey, Kyle; Gammon, Doris G; Loomis, Brett R; Kuiper, Nicole M; Rogers, Todd; King, Brian A

    2017-12-15

    Tobacco manufacturers continue to implement a range of pricing strategies to increase the affordability and consumption of tobacco products. To demonstrate the extent of retail- and brand-level price discounts at the point of sale, this study assessed national sales trends in price-discounted cigarettes, large cigars, little cigars, and cigarillos. Retail scanner data for tobacco product sales were obtained for convenience stores (C-store) and all-other-outlets-combined (AOC) from September 25, 2011, to January 9, 2016. The proportion of price-discounted sales, average nondiscounted unit price, and average discounted unit price were examined by product category and brand. JoinPoint regression was used to assess average monthly percentage change. Overall, price-discounted sales accounted for 11.3% of cigarette, 3.4% of large cigar, 4.1% of little cigar, and 3.9% of cigarillo sales. The average difference between nondiscounted and discounted prices was 25.5% (C-store) and 36.7% (AOC) for cigarettes; 11.0% (C-store) and 11.2% (AOC) for large cigars; 19.2% (C-store) and 9.6% (AOC) for little cigars; and 5.3% (C-store) and 14.7% (AOC) for cigarillos. Furthermore, price-discounted sales of top-selling tobacco brands comprised up to 36% of cigarette, 7.4% of large cigar, 7.7% of little cigar, and 4.2% of cigarillo unit sales. These findings highlight the use of price discounts by tobacco manufacturers to reduce the cost of cigarettes, large cigars, little cigars, and cigarillos to consumers. These sales patterns underscore the importance of sustained efforts to implement evidence-based strategies to increase prices and reduce availability and consumption of combustible tobacco in the United States. This study highlights the prevalence and provides a baseline of price-discounted cigarettes, large cigars, little cigars, and cigarillos. Surveillance of tobacco sales data, including state-level trends and additional product types, is critical for informing approaches to

  8. National and State-Specific Sales and Prices for Electronic Cigarettes—U.S., 2012–2013

    Science.gov (United States)

    Loomis, Brett R.; Rogers, Todd; King, Brian A.; Dench, Daniel L.; Gammon, Doris G.; Fulmer, Erika B.; Agaku, Israel T.

    2015-01-01

    Introduction The growing market for electronic cigarettes (e-cigarettes) has been widely reported in the media, but very little objective data exist in the scientific literature, and no data have been published on state-specific trends in prices or sales. Our objective is to assess state-specific annual sales and average prices for e-cigarettes in the U.S. Methods Commercial retail scanner data were used to assess total dollar sales and average price per unit for disposable e-cigarettes, starter kits, and cartridge refills for selected states and the total U.S. during 2012–2013. Data were analyzed in 2014. Data were available for convenience stores (29 states) and food, drug, and mass merchandisers (44 states). Results In convenience stores, dollar sales increased markedly during 2012–2013: 320.8% for disposable e-cigarettes, 72.4% for starter kits, and 82% for cartridges. In food, drug, and mass merchandisers, dollar sales increased 49.5% for disposable e-cigarettes, 89.4% for starter kits, and 126.2% for cartridges. Average prices across all product categories increased in convenience stores and decreased in food, drug, and mass merchandisers. Sales and prices varied substantially across states included in the analyses. Conclusions Sales of all e-cigarette device types grew considerably in convenience stores and food, drug, and mass merchandisers during 2012–2013. The market for e-cigarettes is growing rapidly, resulting in dynamic sales and price changes that vary across the U.S. Continued state-specific surveillance of the e-cigarette market is warranted. PMID:26163173

  9. Ordinary and extraordinary prices in the Giolito Libri spirituali sales List

    Directory of Open Access Journals (Sweden)

    Giliola Barbero

    2018-05-01

    Full Text Available This article illustrates an early modern sales list of books, the Libri spirituali di stampa of the Venetian Giolito publishing house. This printed list, kept in the Biblioteca Comunale Augusta in Perugia, includes the descriptions of 81 devotional and religious sixteenth century books with their prices expressed in Venetian lire (an account money. The aim of the research is to illustrate the price policy of the Giolito firm between 1587 and 1592, and the segment of the market they intended to serve. For this purpose, on the basis of the books priced, the list has been dated and placed in chronological relation with other already known Giolito sales catalogues. In the second part of the article, average prices per printing sheet are calculated and the relationships between prices and dates, languages and formats are taken into consideration. In the end, the reasons why some few editions were proposed on the market at a higher price are discussed. The list is published in the Appendix.

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

    Directory of Open Access Journals (Sweden)

    TUHARI Tudor

    2017-06-01

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

  11. 11 CFR 110.17 - Price index increase.

    Science.gov (United States)

    2010-01-01

    ... 11 Federal Elections 1 2010-01-01 2010-01-01 false Price index increase. 110.17 Section 110.17... PROHIBITIONS § 110.17 Price index increase. (a) Price index increases for party committee expenditure... 11 CFR 109.32 and 110.8 shall be increased by the percent difference between the price index, as...

  12. Impact of Gautrain stations on property prices and sales activity in ...

    African Journals Online (AJOL)

    KArnold

    Gautrain stations had a notable impact on property sales prices and property sales activity in the vicinity of. Sandton, Rosebank and Midrand stations between 2006 and 2015. Of the five Gautrain stations in the City of. Johannesburg, Rosebank, Sandton and Midrand stations were selected for the study since they are the ...

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

    International Nuclear Information System (INIS)

    Vannson, F.

    2006-03-01

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

  14. Examination of the Fish Price Offered for Sale During 2012-2013 Fishing Season in Sinop, Turkey

    Directory of Open Access Journals (Sweden)

    Şennan Yücel

    2017-10-01

    Full Text Available The aim of the study was to determine the monthly price distribution of the offered fish species for sale within the scope of information received from the centers engaged in the sale of retail fish during 2012-2013 fishing season in Sinop, Turkey. The enterprises were grouped as I (the most, II (middle and III (the least according to the sales volume and fish species. Each group was represented by two different fish enterprise and so a total of six separate enterprises were determined by purpose sampling method. During the study, sale prices and fish species were obtained twice every month at the same time of day. It was determined that anchovy (Engraulis encrasicolus ponticus, horse mackerel (Trachurus trachurus, bluefish (Pomatomus saltatrix, atlantic bonito (Sarda sarda, twait shad (Alosa fallax nilotica, needlefish (Belone belone, mullet (Mugil cephalus, shi drum (Umbrina cirrosa, brown meagre (Sciana umbra, common two-banded seabream (Diplodus vulgaris, annular bream (Diplodus annularis, tub gurnard (Trigla lucerna, picarel (Maena smaris, turbot (Psetta maxima, red mullet (Mullus barbatus, whiting (Merlangus merlangus, scorpion fish (Scorpaena porcus, goby (Gobius niger were offered for sale in fish markets. While the prices of higher economic valued fish species like anchovy, bluefish, atlantic bonito and turbot prices were different between the enterprises, the prices of horse mackerel, red mullet and whiting species were not different. When considering the fish prices based on years, the prices of horse mackerel, bluefish, atlantic bonito, red mullet and haddock during 2012-2013 years were close to the average price of 2008-2012 years and the prices of anchovy and turbot during 2012-2013 years were higher than the average price of 2008-2012 years in Sinop.

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

    Science.gov (United States)

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

    2015-10-23

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

  16. The effect of lake water quality and wind turbines on Rhode Island property sales price

    Science.gov (United States)

    Gorelick, Susan Shim

    This dissertation uses the hedonic pricing model to study the impact of lake water quality and wind turbines on Rhode Island house sales prices. The first two manuscripts are on lake water quality and use RI house sales transactions from 1988--2012. The third studies wind turbines using RI house sales transactions from 2000--2013. The first study shows that good lake water quality increases lakefront property price premium. It also shows that environmental amenities, such as forests, substitute for lake amenity as the property's distance from the lake increases. The second lake water quality study incorporates time variables to examine how environmental amenity values change over time. The results show that property price premium associated with good lake water quality does not change as it is constant in proportion to housing prices with short term economic fluctuations. The third study shows that wind turbines have a negative and significant impact on housing prices. However, this is highly location specific and varies with neighborhood demographics. All three studies have policy implications which are discussed in detail in the manuscripts below.

  17. Do increases in cigarette prices lead to increases in sales of cigarettes with high tar and nicotine yields?

    Science.gov (United States)

    Farrelly, Matthew C; Loomis, Brett R; Mann, Nathan H

    2007-10-01

    We used scanner data on cigarette prices and sales collected from supermarkets across the United States from 1994 to 2004 to test the hypothesis that cigarette prices are positively correlated with sales of cigarettes with higher tar and nicotine content. During this period the average inflation-adjusted price for menthol cigarettes increased 55.8%. Price elasticities from multivariate regression models suggest that this price increase led to an increase of 1.73% in sales-weighted average tar yields and a 1.28% increase in sales-weighted average nicotine yields for menthol cigarettes. The 50.5% price increase of nonmenthol varieties over the same period yielded an estimated increase of 1% in tar per cigarette but no statistically significant increase in nicotine yields. An ordered probit model of the impact of cigarette prices on cigarette strength (ultra-light, light, full flavor, unfiltered) offers an explanation: As cigarette prices increase, the probability that stronger cigarette types will be sold increases. This effect is larger for menthol than for nonmenthol cigarettes. Our results are consistent with earlier population-based cross-sectional and longitudinal studies showing that higher cigarette prices and taxes are associated with increasing consumption of higher-yield cigarettes by smokers.

  18. Residential Photovoltaic Energy Systems in California: The Effect on Home Sales Prices

    Energy Technology Data Exchange (ETDEWEB)

    Hoen, Ben; Wiser, Ryan; Thayer, Mark; Cappers, Peter

    2012-04-15

    Relatively little research exists estimating the marginal impacts of photovoltaic (PV) energy systems on home sale prices. Using a large dataset of California homes that sold from 2000 through mid-2009, we find strong evidence, despite a variety of robustness checks, that existing homes with PV systems sold for a premium over comparable homes without PV systems, implying a near full return on investment. Premiums for new homes are found to be considerably lower than those for existing homes, implying, potentially, a tradeoff between price and sales velocity. The results have significant implications for homeowners, builders, appraisers, lenders, and policymakers.

  19. Two-part pricing structure in long-term gas sales contracts

    International Nuclear Information System (INIS)

    Slocum, J.C.; Lee, S.Y.

    1992-01-01

    Although the incremental electricity generation market has the potential to be a major growth area for natural gas demand in the U.S., it may never live up to such promise unless gas suppliers are more willing to enter into long-term gas sales agreements necessary to nurture this segment of the industry. The authors submit that producer reluctance to enter into such long-term sales agreements can be traced, at least in part to the differing contract price requirements between gas producers and buyers. This paper will address an evolving solution to this contracting dilemma - the development of a two-part pricing structure for the gas commodity. A two-part pricing structure includes a usage or throughput charge established in a way to yield a marginal gas cost competitive with electric utility avoided costs, and a reservation charge established to guarantee a minimum cash flow to the producer. Moreover, the combined effect of the two charges may yield total revenues that better reflect the producer's replacement cost of the reserves committed under the contract. 2 tabs

  20. Price Discovery Function of Index Futures in China: Evidence from Daily Closing Prices

    Institute of Scientific and Technical Information of China (English)

    SHIQING; XIE; JIAJUN; HUANG

    2013-01-01

    Price discovery is one of the main functions of stock index futures.Using the daily closing prices of the CSI 300 index and its index futures from April 2010 to April 2012,this paper applies a vector error correction model(VECM)and an impulse response function to conduct an empirical analysis on the price discovery function of index futures in China.This paper has the following four findings:(1)a solid cointegration relationship between the CSI 300 index and its index futures exists in the long run;(2)when prices deviate from the longterm equilibrium,the stock index reverses weakly,while the reversal of index futures is much stronger;(3)the daily lead-lag relationship between the prices of the CSI 300 index and its index futures contracts is not significant in the short run;()shocks from the spot market have a lasting impact upon the futures market,but not vice versa,due to the limited short-term adjustment ability of the spot market.

  1. Pricing of temperature index insurance

    Directory of Open Access Journals (Sweden)

    Che Mohd Imran Che Taib

    2012-01-01

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

  2. Multiple Linear Regression Analysis of Factors Affecting Real Property Price Index From Case Study Research In Istanbul/Turkey

    Science.gov (United States)

    Denli, H. H.; Koc, Z.

    2015-12-01

    Estimation of real properties depending on standards is difficult to apply in time and location. Regression analysis construct mathematical models which describe or explain relationships that may exist between variables. The problem of identifying price differences of properties to obtain a price index can be converted into a regression problem, and standard techniques of regression analysis can be used to estimate the index. Considering regression analysis for real estate valuation, which are presented in real marketing process with its current characteristics and quantifiers, the method will help us to find the effective factors or variables in the formation of the value. In this study, prices of housing for sale in Zeytinburnu, a district in Istanbul, are associated with its characteristics to find a price index, based on information received from a real estate web page. The associated variables used for the analysis are age, size in m2, number of floors having the house, floor number of the estate and number of rooms. The price of the estate represents the dependent variable, whereas the rest are independent variables. Prices from 60 real estates have been used for the analysis. Same price valued locations have been found and plotted on the map and equivalence curves have been drawn identifying the same valued zones as lines.

  3. Economic Order Quality Model for Determining the Sales Prices of Fresh Goods at Various Points in Time

    Directory of Open Access Journals (Sweden)

    Po-Yu Chen

    2017-01-01

    Full Text Available Although the safe consumption of goods such as food products, medicine, and vaccines is related to their freshness, consumers frequently understand less than suppliers about the freshness of goods when they purchase them. Because of this lack of information, apart from sales prices, consumers refer only to the manufacturing and expiration dates when deciding whether to purchase and how many of these goods to buy. If dealers could determine the sales price at each point in time and customers’ intention to buy goods of varying freshness, then dealers could set an optimal inventory cycle and allocate a weekly sales price for each point in time, thereby maximizing the profit per unit time. Therefore, in this study, an economic order quality model was established to enable discussion of the optimal control of sales prices. The technique for identifying the optimal solution for the model was determined, the characteristics of the optimal solution were demonstrated, and the implications of the solution’s sensitivity analysis were explained.

  4. 5 CFR 591.209 - What is a price index?

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 1 2010-01-01 2010-01-01 false What is a price index? 591.209 Section... Allowances § 591.209 What is a price index? (a) The price index is the COLA area price divided by the DC area... case of the final index, OPM rounds the index to two decimal places. ...

  5. 26 CFR 48.4216(a)-1 - Charges to be included in sale price.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 16 2010-04-01 2010-04-01 true Charges to be included in sale price. 48.4216(a)-1 Section 48.4216(a)-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY... sales promotion programs, or otherwise. With respect to the rules relating to exclusion (in the case of...

  6. Franchise Values in North American Professional Sports Leagues: Evidence from a Repeat Sales Method

    OpenAIRE

    Brad R. Humphreys; Yang Seung Lee

    2009-01-01

    The paper develops a quality adjusted professional sports franchise price index for North America based on a repeat sale method. This index reflects trends in the general price of sports franchises holding local market, facility, and team characteristics constant. The price index exhibits considerable volatility but no upward trend over time, unlike previous quality adjusted price indexes based on hedonic models in the literature. The lack of an upward trend in this quality adjusted price ind...

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

    Directory of Open Access Journals (Sweden)

    Researchers of Islamic Banking Department

    2012-01-01

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

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

    DEFF Research Database (Denmark)

    Hansen, Jesper Kirkeby; Sørensen, Hans Christian

    1993-01-01

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

  9. 7 CFR 5.1 - Parity index and index of prices received by farmers.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 1 2010-01-01 2010-01-01 false Parity index and index of prices received by farmers... § 5.1 Parity index and index of prices received by farmers. (a) The parity index and related indices... farmers, interest, taxes, and farm wage rates, as revised May 1976 and published in the May 28, 1976, and...

  10. Influence of trees on residential property values in Athens, Gerogia (U.S.A.): a survey based on actual sales prices

    Science.gov (United States)

    L.M. Anderson; H.K. Cordell

    1988-01-01

    survey of the sales of 844 single family residential properties in Athens, Georgia, U.S.A., indicated that landscaping with trees was associated with 3.5%-4.5% increase in sales prices. During the 1978-I 980 study period, the average house sold for about $38 100 (in I978 constant dollars) and had five trees in its front yard. The average sales price increase due to...

  11. Effect of management, marketing, and certified health programs on the sale price of beef calves sold through a livestock video auction service from 1995 through 2009.

    Science.gov (United States)

    Seeger, Jon T; King, Michael E; Grotelueschen, Dale M; Rogers, Glenn M; Stokka, Gerald S

    2011-08-15

    To evaluate and update the previously quantified effects of management, marketing, and certified health programs on the sale price of beef calves sold through a livestock video auction service. Longitudinal study. 41,657 lots representing 5,042,272 beef calves sold from 1995 through 2009. Data describing each lot of beef calves marketed from 1995 through 2009 by a livestock video auction service were obtained from sale catalogues. For each year of the study, multiple regression analysis was used to quantify the effect of management, marketing, and certified health programs on sale price. Sale date, base sale weight, quadratic effect of base weight, sex of calf, region of origin, breed description, inclusion in a certified health program, and number of calves in the lot significantly affected sale price for every year of the study. Variation in body weight, flesh score, and number of days between sale and delivery date had significant effects on price in most of the years; frame score and calves with horns affected price in 7 of 15 years; age and source verification influenced sale price in every year since source verification was introduced in 2005; and the auction service's progressive genetics program increased price during the 1 year that program was available. Some management, marketing, and certified health initiatives have consistently increased the sale price of beef calves, and producers can increase the price of their calves by implementing these practices.

  12. 27 CFR 41.39 - Determination of sale price of large cigars.

    Science.gov (United States)

    2010-04-01

    ... addition to money, goods or services exchanged for cigars may be considered as part of the sale price. See... TAX AND TRADE BUREAU, DEPARTMENT OF THE TREASURY (CONTINUED) TOBACCO IMPORTATION OF TOBACCO PRODUCTS, CIGARETTE PAPERS AND TUBES, AND PROCESSED TOBACCO Taxes Classification of Large Cigars and Cigarettes § 41...

  13. Organ sales: exploitative at any price?

    Science.gov (United States)

    Lawlor, Rob

    2014-05-01

    In many cases, claims that a transaction is exploitative will focus on the details of the transaction, such as the price paid or conditions. For example, in a claim that a worker is exploited, the grounds for the claim are usually that the pay is not sufficient or the working conditions too dangerous. In some cases, however, the claim that a transaction is exploitative is not seen to rely on these finer details. Many, for example, claim that organ sales would be exploitative, in a way that doesn't seem to depend on the details. This article considers, but ultimately rejects, a number of arguments which could be used to defend this sort of claim. © 2012 John Wiley & Sons Ltd.

  14. A history of prices in Canada, 1840-1871: a new wholesale price index

    OpenAIRE

    Donald G. Paterson; Ronald A. Shearer

    2003-01-01

    We present a new monthly wholesale price index for Canada, 1840-71, comparing fluctuations in the Canadian macroeconomy with fluctuations in similar U.S. and British indexes. Canadian prices move through distinct phases: the 1840s rise in prices and the decline in the depression of 1848-49; the mid-century economic boom and the 1857 depression; U.S. Civil War inflation and apparent Canadian price insulation through a flexible exchange rate created by U.S. withdrawal from gold; and the non-inf...

  15. Performance Analysis of Indonesia’s Mining Sector Price Index

    Directory of Open Access Journals (Sweden)

    Hastra Reza Satyatama

    2017-07-01

    Full Text Available Subprime mortage’s crisis in United States 2008 giving effect to the global capital markets especially the stock price index of the mining sector Indonesia. This research analyzes the effect of BI Rate, exchange rate, world gold price, crude oil price, and Dow Jones Industrial Average on the stock price index of the mining sector. This research employs time series monthly data of 2009-2016 with Error Correction Model-Engle Granger (ECM-EG as the method. The analysis showed that the BI rate, exchange rate and world gold price, has a negative and significant effect. World oil prices affect positively but not significant meanwhile the Dow Jones Industrial Average has a positive and significant impact on the stock price index of the mining sector. For investors in the mining sector, should pay attention to the exchange rate of the rupiah and Dow Jones Index significantly in the mining sector of the stock price index.DOI: 10.15408/sjie.v6i2.5395 

  16. 76 FR 37828 - Update to Indian Index Zone Price Points

    Science.gov (United States)

    2011-06-28

    ... to Indian Index Zone Price Points AGENCY: Office of Natural Resources Revenue, Interior. ACTION... (MMS) Minerals Revenue Management) is announcing an update to Indian index zone price points that will remove certain natural gas index prices from the Indian Index Zone calculation. These changes will impact...

  17. The substitution bias of the consumer price index

    OpenAIRE

    Frenger, Petter

    2006-01-01

    Abstract: The paper uses elementary consumer theory to propose an inflation independent ratio definition of the substitution bias of the Laspeyres consumer price index, and derives an approximate substitution bias which depends on the size of the price change as measured by a norm in the Laspeyres plane and on the elasticity of substitution in the direction of the price change. This norm or distance measure can be interpreted as a price substitution index which yields useful in...

  18. Causality relation between the producer price index and the consumer price index. Ecuador Case

    Directory of Open Access Journals (Sweden)

    Víctor Quinde Rosales

    2018-01-01

    Full Text Available The present document is an investigation with a type of inductive reasoning. It evaluated the relationship of causality between the producer price index (IPP, and the consumer price index (IPC in a period from January 1998 to December 2016. The unit root test Dickey-Fuller Augmented (DFA was used under an empirical- analytic paradigm, an autoregressive vector-VAR model was generated and the Granger causality test was performed. The results show a positive trend and seasonality in the data of the variables, a VAR model of two variables was obtained with a number of optimal remnants of fourteen VAR2 (14 to which the causality test was performed, demonstrating a bi - directionality of both indices.

  19. Impact of Gautrain stations on property prices and sales activity in ...

    African Journals Online (AJOL)

    The core objective of this study was to analyse the impact of three Gautrain stations on real estate in the City of Johannesburg, looking specifically at how the Sandton, Rosebank and Midrand stations affected property prices and sales activity within 3 km of the stations between 2006 and 2015. This time period represented ...

  20. Fire Sales and House Prices

    DEFF Research Database (Denmark)

    Andersen, Steffen; Meisner Nielsen, Kasper

    2017-01-01

    This study investigates when forced sales of real estate turn into fire sales by using a natural experiment that allows us to separate supply and demand effects: Forced sales result from sudden death of house owners and are thus unrelated to current market conditions. We find that forced sales...

  1. Online and official price indexes: Measuring Argentina's inflation

    OpenAIRE

    Cavallo, Alberto F.

    2013-01-01

    Prices collected from online retailers can be used to construct daily price indexes that complement official statistics. This paper studies their ability to match official inflation estimates in five Latin American countries, with a focus on Argentina, where official statistics have been heavily criticized in recent years. The data were collected between October 2007 and March 2011 from the largest supermarket in each country. In Brazil, Chile, Colombia, and Venezuela, online price indexes ap...

  2. Divisia amount and price index for energy consumption

    International Nuclear Information System (INIS)

    Bentzen, J.

    1993-01-01

    In connection with the calculation of total energy consumption related to aggregation of the individual fuel's combustion values, an alternative to Btu aggregation (combustion value measurement), designated the ''Divisia index'', is presented. This represents an economic measure for energy consumption. The Divisia index is demonstrated in relation to total national energy consumption and total energy consumption within the Danish housing sector and also with regard to the estimation of price and income elasticity within energy demand. It is only possible to utilize the Divisia index in relation to the last 20 years, which is the period where energy consumption has stagnated. The question of possible irreversible effects on energy consumption caused by large variations in energy prices is discussed. It is suggested that the reaction to a fall in prices is different and less significant than is the case with price rises. In the long term, results point at a reasonably high price elasticity within energy demand. (AB) (22 refs.)

  3. 75 FR 34959 - Five-Year Review of Oil Pipeline Pricing Index

    Science.gov (United States)

    2010-06-21

    ...] Five-Year Review of Oil Pipeline Pricing Index June 15, 2010. AGENCY: Federal Energy Regulatory... comments on its five-year review of the oil pipeline pricing index established in Revisions to Oil Pipeline...-year review of the oil pricing index, the Commission adopted an index of PPI+1.3 for the five-year...

  4. Calculating the Candy Price Index: A Classroom Inflation Experiment.

    Science.gov (United States)

    Hazlett, Denise; Hill, Cynthia D.

    2003-01-01

    Outlines how students develop a price index based on candy-purchasing decisions made by class members. Explains that students used the index to practice calculating inflation rates and to consider the strengths and weaknesses of the consumer price index (CPI). States that the exercise has been used in introductory and intermediate macroeconomics…

  5. 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

  6. Retail price and point of sale display of tobacco in the UK: a descriptive study of small retailers.

    Directory of Open Access Journals (Sweden)

    Dionysis Spanopoulos

    Full Text Available Since the implementation of the 2002 Tobacco Advertising and Promotion Act, point-of-sale (PoS tobacco displays are one of few remaining means of communication between the tobacco industry and customers in the UK. This study aimed to explore the characteristics of tobacco displays in a UK city, and particularly to assess the tobacco prices and promotional offers, types and pack sizes on display.Digital pictures of PoS displays were taken in 117 small retail shops in Nottingham in mid 2010. Data were analysed using Windows Photo Gallery software and SPSS version 16.Just over half (52% of cigarette packs on display were packs of 20, and 43% packs of 10. Cigarette prices differed substantially between brands, ranging from £4.19 to £6.85 for 20-packs, and from £2.12 to £3.59 for 10-packs. Forty four percent of cigarette packs and 40% of RYO (Roll-Your-Own tobacco pouches, almost exclusively lower priced brands, were displayed with a pricemark, implying a promotional price offer. Eighty percent of 20-pack cigarette brand or brand variants on sale were priced below the EU-defined Most Popular Price Category (MPPC for the UK in 2010; 45% were priced below the Weighted Average Price (WAP, which replaced the MPPC in 2011.PoS displays communicate value by displaying a high proportion of lower cost brands, and smaller and hence lower-cost packs, and by displaying price discounts on packs. The MPPC substantially overestimated the prices at which most 20-cigarette packs were available. Removal of PoS displays will prevent this means of price marketing but our study also suggests that minimum pricing of 20-pack cigarettes, prohibition of sale of cigarettes in packs less than 20, and plain packaging to prevent pricemarking are necessary if price is to be used effectively as a tobacco control measure.

  7. Retail price and point of sale display of tobacco in the UK: a descriptive study of small retailers.

    Science.gov (United States)

    Spanopoulos, Dionysis; Ratschen, Elena; McNeill, Ann; Britton, John

    2012-01-01

    Since the implementation of the 2002 Tobacco Advertising and Promotion Act, point-of-sale (PoS) tobacco displays are one of few remaining means of communication between the tobacco industry and customers in the UK. This study aimed to explore the characteristics of tobacco displays in a UK city, and particularly to assess the tobacco prices and promotional offers, types and pack sizes on display. Digital pictures of PoS displays were taken in 117 small retail shops in Nottingham in mid 2010. Data were analysed using Windows Photo Gallery software and SPSS version 16. Just over half (52%) of cigarette packs on display were packs of 20, and 43% packs of 10. Cigarette prices differed substantially between brands, ranging from £4.19 to £6.85 for 20-packs, and from £2.12 to £3.59 for 10-packs. Forty four percent of cigarette packs and 40% of RYO (Roll-Your-Own) tobacco pouches, almost exclusively lower priced brands, were displayed with a pricemark, implying a promotional price offer. Eighty percent of 20-pack cigarette brand or brand variants on sale were priced below the EU-defined Most Popular Price Category (MPPC) for the UK in 2010; 45% were priced below the Weighted Average Price (WAP), which replaced the MPPC in 2011. PoS displays communicate value by displaying a high proportion of lower cost brands, and smaller and hence lower-cost packs, and by displaying price discounts on packs. The MPPC substantially overestimated the prices at which most 20-cigarette packs were available. Removal of PoS displays will prevent this means of price marketing but our study also suggests that minimum pricing of 20-pack cigarettes, prohibition of sale of cigarettes in packs less than 20, and plain packaging to prevent pricemarking are necessary if price is to be used effectively as a tobacco control measure.

  8. "The Consumer Price Index As a Measure of Inflation"

    OpenAIRE

    Dimitri B. Papadimitriou; L. Randall Wray

    1996-01-01

    As inflation approaches zero, it becomes increasingly important to examine the price indices on which monetary policy is based. The most popularly used aggregate price statistic in the U.S. is the Consumer Price Index (CPI), a statistic that appears to be a focal point in monetary policy deliberations. A problem associated with using the CPI, a fixed weight index of the cost-of-living, is that there are likely to be biases in the index as a measure of inflation. In this paper we use a simple ...

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

    OpenAIRE

    Wei, Ying; Xiong, Liyang

    2015-01-01

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

  10. Discounts on fruit and vegetables combined with a space management intervention increased sales in supermarkets.

    Science.gov (United States)

    Toft, U; Winkler, L L; Mikkelsen, B E; Bloch, P; Glümer, C

    2017-04-01

    To examine the effects of two interventions on consumer purchases of fruits and vegetables (F&V) on the Danish island of Bornholm: a 20% discount on F&V combined with improved shelf-space allocation, and improved shelf-space allocation alone. A space management intervention to promote F&V sales was performed in two large discount supermarkets on Bornholm in Denmark for 3 months (September-November 2012). In addition, a 20% discount on F&V was introduced for 3 months in one of the supermarkets ('space + price'). The effect was evaluated using sales data from the two intervention supermarkets and three control supermarkets from the same supermarket chain but in Odsherred, Denmark (control area). Both the effect on sales of fresh F&V and potential unhealthy substitution effects were evaluated using multi-level regression analyses. During the price intervention period, the index number for sales of fresh vegetables increased by 22.2% (P=0.001) in the 'space + price' intervention supermarket compared with the control supermarkets. Furthermore, the index number for the sale of organic fresh fruit and vegetables increased by 12.1% (P=0.04) and the sale of the total amount of fruit and vegetables (fresh, frozen, dried and canned) increased by 15.3% (P=0.01) compared with the control supermarkets. In the 'space only' intervention supermarket no significant increase in the sale of fruit and vegetables was found. No unhealthy substitution effects were found. In conclusion, a 20% price reduction on F&V significantly increased sales of F&V. The effect was most pronounced on vegetables and no negative/unhealthy substitution effects were found.

  11. Is the Carli index flawed?: assessing the case for the new retail price index RPIJ.

    Science.gov (United States)

    Levell, Peter

    2015-02-01

    The paper discusses the recent decision of the UK's Office for National Statistics to replace the controversial Carli index with the Jevons index in a new version of the retail price index-RPIJ. In doing so we make three contributions to the way that price indices should be selected for measures of consumer price inflation when quantity information is not available (i.e. at the 'elementary' level). Firstly, we introduce a new price bouncing test under the test approach for choosing index numbers. Secondly, we provide empirical evidence on the performance of the Carli and Jevons indices in different contexts under the statistical approach. Thirdly, applying something analogous to the principle of insufficient reason, we argue contrary to received wisdom in the literature, that the economic approach can be used to choose indices at the elementary level, and moreover that it favours the use of the Jevons index. Overall, we conclude that there is a case against the Carli index and that the Jevons index is to be preferred.

  12. 75 FR 80300 - Five-Year Review of Oil Pipeline Pricing Index

    Science.gov (United States)

    2010-12-22

    ...] Five-Year Review of Oil Pipeline Pricing Index Issued December 16, 2010. AGENCY: Federal Energy... five-year review of the oil pricing index, established in Order No. 561. After consideration of the... period commencing July 1, 2011. \\1\\ Five-Year Review of Oil Pipeline Pricing Index, 75 FR 34959 (June 21...

  13. Estonian horticultural peat marketing: sales promotion and price formation. 2. part

    International Nuclear Information System (INIS)

    Hammer, Hele

    1999-01-01

    When forming prices, Estonian peat companies' decisions should be based on marginal cost analysis. Unfortunately most Estonian companies sell peat to intermediaries and cannot influence its price. Estonian peat producers have to choose between either selling peat directly or selling through a central marketing organization. Both systems have their pros and cons. Direct selling gives more freedom to individual producers but is more risky. Central marketing makes cost saving possible and is more effective and stable, but may alienate producers from clients and markets. Whichever marketing system Estonian peat companies choose, the most important elements in their marketing strategy should be: careful market analysis, personal sales, attending trade shows, catalogues, quality service and offering transportation services. (author)

  14. 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...

  15. An Analysis of the Effects of Residential Photovoltaic Energy Systems on Home Sales Prices in California

    Energy Technology Data Exchange (ETDEWEB)

    Hoen, Ben; Cappers, Peter; Wiser, Ryan; Thayer, Mark

    2011-04-19

    An increasing number of homes in the U.S. have sold with photovoltaic (PV) energy systems installed at the time of sale, yet relatively little research exists that estimates the marginal impacts of those PV systems on home sale prices. A clearer understanding of these possible impacts might influence the decisions of homeowners considering the installation of a PV system, homebuyers considering the purchase of a home with PV already installed, and new home builders considering including PV as an optional or standard product on their homes. This research analyzes a large dataset of California homes that sold from 2000 through mid-2009 with PV installed. It finds strong evidence that homes with PV systems sold for a premium over comparable homes without PV systems during this time frame. Estimates for this premium expressed in dollars per watt of installed PV range, on average, from roughly $4 to $5.5/watt across a large number of hedonic and repeat sales model specifications and robustness tests. When expressed as a ratio of the sales price premium of PV to estimated annual energy cost savings associated with PV, an average ratio of 14:1 to 19:1 can be calculated; these results are consistent with those of the more-extensive existing literature on the impact of energy efficiency on sales prices. When the data are split among new and existing homes, however, PV system premiums are markedly affected. New homes with PV show premiums of $2.3-2.6/watt, while existing homes with PV show premiums of more than $6/watt. Reasons for this discrepancy are suggested, yet further research is warranted. A number of other areas where future research would be useful are also highlighted.

  16. OPTIMAL PRODUCTION–SALES STRATEGIES FOR A COMPANY AT CHANGING MARKET PRICE

    Directory of Open Access Journals (Sweden)

    ELLINA V. GRIGORIEVA

    2015-01-01

    Full Text Available In this paper we consider a monopoly producing a consumer good of high demand. Its market price depends on the volume of the produced goods described by the Cobb-Douglas production function. A production-sales activity of the firm is modeled by a nonlinear differential equation with two bounded controls: the share of the profit obtained from sales that the company reinvests into expanding own production, and the amount of short-term loans taken from a bank for the same purpose. The problem of maximizing discounted total profit on a given time interval is stated and solved. In order to find the optimal production and sales strategies for the company, the Pontryagin maximum principle is used. In order to investigate the arising two-point boundary value problem for the maximum principle, an analysis of the corresponding Hamiltonian system is applied. Based on a qualitative analysis of this system, we found that depending on the initial conditions and parameters of the model, both, singular and bang- bang controls can be optimal. Economic analysis of the optimal solutions is discussed.

  17. Estimating Drug Costs: How do Manufacturer Net Prices Compare with Other Common US Price References?

    Science.gov (United States)

    Mattingly, T Joseph; Levy, Joseph F; Slejko, Julia F; Onwudiwe, Nneka C; Perfetto, Eleanor M

    2018-05-12

    Drug costs are frequently estimated in economic analyses using wholesale acquisition cost (WAC), but what is the best approach to develop these estimates? Pharmaceutical manufacturers recently released transparency reports disclosing net price increases after accounting for rebates and other discounts. Our objective was to determine whether manufacturer net prices (MNPs) could approximate the discounted prices observed by the U.S. Department of Veterans Affairs (VA). We compared the annual, average price discounts voluntarily reported by three pharmaceutical manufacturers with the VA price for specific products from each company. The top 10 drugs by total sales reported from company tax filings for 2016 were included. The discount observed by the VA was determined from each drug's list price, reported as WAC, in 2016. Descriptive statistics were calculated for the VA discount observed and a weighted price index was calculated using the lowest price to the VA (Weighted VA Index), which was compared with the manufacturer index. The discounted price as a percentage of the WAC ranged from 9 to 74%. All three indexes estimated by the average discount to the VA were at or below the manufacturer indexes (42 vs. 50% for Eli Lilly, 56 vs. 65% for Johnson & Johnson, and 59 vs. 59% for Merck). Manufacturer-reported average net prices may provide a close approximation of the average discounted price granted to the VA, suggesting they may be a useful proxy for the true pharmacy benefits manager (PBM) or payer cost. However, individual discounts for products have wide variation, making a standard discount adjustment across multiple products less acceptable.

  18. A Pricing Strategy To Promote Sales of Lower Fat Foods in High School Cafeterias: Acceptability and Sensitivity Analysis.

    Science.gov (United States)

    Hannan, Peter; French, Simone A.; Story, Mary; Fulkerson, Jayne A.

    2002-01-01

    Examined the purchase patterns of seven targeted foods under conditions in which prices of three high-fat foods were raised and prices of four low-fat foods were lowered in a high school cafeteria over 1 school year. Data collected on food sales and revenues supported the feasibility of a pricing strategy that offered low-fat foods at lower prices…

  19. DOES FEAR (VIX INDEX INCITE VOLATILITY IN FOOD PRICES?

    Directory of Open Access Journals (Sweden)

    Gökhan Çınar

    2017-04-01

    Full Text Available Globally, the volatility trend in food prices has continued to increase. Different data give the impression that this volatility may be caused by the international finance markets’ propagation effect. For this reason, the study focused on the VIX (fear index that is used to measure the movement in Standard & Poor’s 500 index. The main objective of the study is to analyze the degree of volatility between the VIX index and the wheat market. The research is comprised of monthly data obtained from year 2000 to 2015. The study employs the BEKK GARCH method. The findings show that the variance shocks in the fear index damage food prices. The results may be useful to policy makers in researching the causes of changes in the prices of food commodity and taking necessary measures.

  20. Fish is food--the FAO's fish price index.

    Science.gov (United States)

    Tveterås, Sigbjørn; Asche, Frank; Bellemare, Marc F; Smith, Martin D; Guttormsen, Atle G; Lem, Audun; Lien, Kristin; Vannuccini, Stefania

    2012-01-01

    World food prices hit an all-time high in February 2011 and are still almost two and a half times those of 2000. Although three billion people worldwide use seafood as a key source of animal protein, the Food and Agriculture Organization (FAO) of the United Nations-which compiles prices for other major food categories-has not tracked seafood prices. We fill this gap by developing an index of global seafood prices that can help to understand food crises and may assist in averting them. The fish price index (FPI) relies on trade statistics because seafood is heavily traded internationally, exposing non-traded seafood to price competition from imports and exports. Easily updated trade data can thus proxy for domestic seafood prices that are difficult to observe in many regions and costly to update with global coverage. Calculations of the extent of price competition in different countries support the plausibility of reliance on trade data. Overall, the FPI shows less volatility and fewer price spikes than other food price indices including oils, cereals, and dairy. The FPI generally reflects seafood scarcity, but it can also be separated into indices by production technology, fish species, or region. Splitting FPI into capture fisheries and aquaculture suggests increased scarcity of capture fishery resources in recent years, but also growth in aquaculture that is keeping pace with demand. Regionally, seafood price volatility varies, and some prices are negatively correlated. These patterns hint that regional supply shocks are consequential for seafood prices in spite of the high degree of seafood tradability.

  1. Fish is food--the FAO's fish price index.

    Directory of Open Access Journals (Sweden)

    Sigbjørn Tveterås

    Full Text Available World food prices hit an all-time high in February 2011 and are still almost two and a half times those of 2000. Although three billion people worldwide use seafood as a key source of animal protein, the Food and Agriculture Organization (FAO of the United Nations-which compiles prices for other major food categories-has not tracked seafood prices. We fill this gap by developing an index of global seafood prices that can help to understand food crises and may assist in averting them. The fish price index (FPI relies on trade statistics because seafood is heavily traded internationally, exposing non-traded seafood to price competition from imports and exports. Easily updated trade data can thus proxy for domestic seafood prices that are difficult to observe in many regions and costly to update with global coverage. Calculations of the extent of price competition in different countries support the plausibility of reliance on trade data. Overall, the FPI shows less volatility and fewer price spikes than other food price indices including oils, cereals, and dairy. The FPI generally reflects seafood scarcity, but it can also be separated into indices by production technology, fish species, or region. Splitting FPI into capture fisheries and aquaculture suggests increased scarcity of capture fishery resources in recent years, but also growth in aquaculture that is keeping pace with demand. Regionally, seafood price volatility varies, and some prices are negatively correlated. These patterns hint that regional supply shocks are consequential for seafood prices in spite of the high degree of seafood tradability.

  2. Alcohol outlet densities and alcohol price: the British Columbia experiment in the partial privatization of alcohol sales off-premise.

    Science.gov (United States)

    Treno, Andrew J; Ponicki, William R; Stockwell, Tim; Macdonald, Scott; Gruenewald, Paul J; Zhao, Jinhui; Martin, Gina; Greer, Alissa

    2013-05-01

    Alcohol beverage prices or taxes have been shown to be related to alcohol sales and use and related problems. What is not clear are the mechanisms underlying these relationships. This study examines the relationship between alcohol outlet density under conditions of the partial privatization of off-premise consumption in British Columbia (BC) occurring over the past decade. Two hypotheses are tested. First, reflecting basic supply-demand principles, greater geographic densities of alcohol outlets will be directly related to reductions in beverage prices in response to greater competition. Second, reflecting the effects of niche marketing and resulting market stratification, increased densities of private liquor stores will be especially related to reductions in beverage prices within this outlet category. Data were collected from: (i) a survey of BC private store prices and practices, (ii) alcohol outlet location information, and (iii) data on demographic characteristics. Multilevel models examine the relationships between prices at individual private liquor stores and the densities of government liquor stores, private liquor stores, bars, and restaurants, controlling for background demographics and geographic unit level effects. Spatial dependencies were also examined. Increased densities of private liquor stores were associated with lower mean prices of beer and all alcohol aggregated across brands at the store level. There appeared to be no outlet level effect on discounting patterns, however, with the mean price differences apparently reflecting differences in the quality of brands carried rather than unequal prices for any given brand. Increased densities of private off-sale alcohol outlets appear to result in lower prices charged at said establishments independently of other types of alcohol outlets suggesting that they represent an emerging marketing niche in the context of off-sale outlet privatization. Copyright © 2012 by the Research Society on

  3. Wind Energy Facilities and Residential Properties: The Effect of Proximity and View on Sales Prices

    Energy Technology Data Exchange (ETDEWEB)

    Hoen, Ben; Wiser, Ryan; Cappers, Peter; Thayer, Mark; Sethi, Gautam

    2010-04-01

    With wind energy expanding rapidly in the U.S. and abroad, and with an increasing number of communities considering nearby wind power developments, there is a need to empirically investigate community concerns about wind project development. One such concern is that property values may be adversely affected by wind energy facilities, and relatively little existing research exists on the subject. The present research is based on almost 7,500 sales of single-family homes situated within ten miles of 24 existing wind facilities in nine different U.S. states. The conclusions of the study are drawn from four different hedonic pricing models. The model results are consistent in that neither the view of the wind facilities nor the distance of the home to those facilities is found to have a statistically significant effect on home sales prices.

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

    Directory of Open Access Journals (Sweden)

    Ying Wei

    2015-01-01

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

  5. Tradeoffs between Price and Quality: How a Value Index Affects Preference Formation.

    Science.gov (United States)

    Creyer, Elizabeth H.; Ross, William T., Jr.

    1997-01-01

    Some of a group of 143 consumers were given a choice between higher-priced, higher-quality items and items with lower price and quality but higher value index (benefit/cost tradeoff); others were given price and quality information only. Consumers were more likely to choose lower-priced, higher-value options when the index information was…

  6. Contract mechanisms for coordinating a supply chain with price and sales-effort dependent demand

    NARCIS (Netherlands)

    Nalla, V.R.; Venugopal, V.; Veen, van der J.A.A.

    2009-01-01

    This paper considers a two-stage supply chain with a Buyer and a Supplier, where the endconsumer demand is influenced by two factors, namely the price of the product and the saleseffort made by the Buyer. It is assumed that the Buyer makes the sales-effort decision and incurs the associated cost.

  7. A Consistent Pricing Model for Index Options and Volatility Derivatives

    DEFF Research Database (Denmark)

    Cont, Rama; Kokholm, Thomas

    observed properties of variance swap dynamics and allows for jumps in volatility and returns. An affine specification using L´evy processes as building blocks leads to analytically tractable pricing formulas for options on variance swaps as well as efficient numerical methods for pricing of European......We propose and study a flexible modeling framework for the joint dynamics of an index and a set of forward variance swap rates written on this index, allowing options on forward variance swaps and options on the underlying index to be priced consistently. Our model reproduces various empirically...... options on the underlying asset. The model has the convenient feature of decoupling the vanilla skews from spot/volatility correlations and allowing for different conditional correlations in large and small spot/volatility moves. We show that our model can simultaneously fit prices of European options...

  8. 26 CFR 48.4216(a)-3 - Other items relating to tax on sale price.

    Science.gov (United States)

    2010-04-01

    ... 26 Internal Revenue 16 2010-04-01 2010-04-01 true Other items relating to tax on sale price. 48.4216(a)-3 Section 48.4216(a)-3 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY... reason of the failure of the article under a warranty as to its quality or service, and a new article is...

  9. A Price Index Model for Road Freight Transportation and Its Empirical analysis in China

    Directory of Open Access Journals (Sweden)

    Liu Zhishuo

    2017-01-01

    Full Text Available The aim of price index for road freight transportation (RFT is to reflect the changes of price in the road transport market. Firstly, a price index model for RFT based on the sample data from Alibaba logistics platform is built. This model is a three levels index system including total index, classification index and individual index and the Laspeyres method is applied to calculate these indices. Finally, an empirical analysis of the price index for RFT market in Zhejiang Province is performed. In order to demonstrate the correctness and validity of the exponential model, a comparative analysis with port throughput and PMI index is carried out.

  10. 7 CFR 1170.8 - Price reporting specifications.

    Science.gov (United States)

    2010-01-01

    ...: Intra-company sales, resales of purchased cheese, forward pricing sales (sales in which the selling... or other premium-assisted sales (for example, export assistance sales through the Cooperatives... and Grade A butter, intra-company sales, resales of purchased butter, forward pricing sales (sales in...

  11. Mercurious Oil Index (MOI) : A new indicator for the global oil price

    OpenAIRE

    Leeuw, de, J.; Dorsman, A.B.; Nelissen, R.

    2008-01-01

    “The” price of oil does not exist. This paper describes the development of a (new) oil index, the Mercurious Oil Index (MOI). This index can be seen as an indicator for the global price of oil. We will discuss why this index is a reliable global price reference, and why it is superior to and more useful than the existing indices and/or benchmarks. Indices are very helpful instruments for the tracking and prediction of markets, to measure performance or sentiment and to form a solid basis on w...

  12. Wind Energy Facilities and Residential Properties: The Effect of Proximity and View on Sales Prices

    Energy Technology Data Exchange (ETDEWEB)

    Hoen, Ben; Wiser, Ryan; Cappers, Peter; Thayer, Mark; Sethi, Gautam

    2010-04-01

    With an increasing number of communities considering nearby wind power developments, there is a need to empirically investigate community concerns about wind project development. One such concern is that property values may be adversely affected by wind energy facilities, and relatively little research exists on the subject. The present research investigates roughly 7,500 sales of single-family homes surrounding 24 existing U.S. wind facilities. Across four different hedonic models the results are consistent: neither the view of the wind facilities nor the distance of the home to those facilities is found to have a statistically significant effect on home sales prices.

  13. Wind Energy Facilities and Residential Properties: The Effect of Proximity and View on Sales Prices

    Energy Technology Data Exchange (ETDEWEB)

    San Diego State University; Bard Center for Environmental Policy at Bard College; Hoen, Ben; Wiser, Ryan; Cappers, Peter; Thayer, Mark; Sethi, Gautam

    2011-06-23

    With increasing numbers of communities considering wind power developments, empirical investigations regarding related community concerns are needed. One such concern is that proximate property values may be adversely affected, yet relatively little research exists on the subject. The present research investigates roughly 7,500 sales of single-family homes surrounding 24 existing U.S. wind facilities. Across four different hedonic models, and a variety of robustness tests, the results are consistent: neither the view of the wind facilities nor the distance of the home to those facilities is found to have a statistically significant effect on sales prices, yet further research is warranted.

  14. Short-sale Constraints and Credit Runs

    DEFF Research Database (Denmark)

    Venter, Gyuri

    ), creditors with high private signals are more lenient to roll over debt, and a bank with lower asset quality remains solvent. This leads to higher allocative efficiency in the real economy. My result thus implies that the decrease in average informativeness due to short-sale constraints can be more than......This paper studies how short-sale constraints affect the informational efficiency of market prices and the link between prices and economic activity. I show that under short-sale constraints security prices contain less information. However, short-sale constraints increase the informativeness...... the price of an asset the bank holds. I show that short-selling constraints in the financial market lead to the revival of self-fulfilling beliefs about the beliefs and actions of others, and create multiple equilibria. In the equilibrium where agents rely more on public information (i.e., the price...

  15. 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...

  16. Quantitative analysis on the fluctuation of vegetable price in supermarket

    Directory of Open Access Journals (Sweden)

    Miranda Suci

    2018-01-01

    Full Text Available In this paper we analyze the variables affecting the determination of vegetable sale price in supermarket and investigate each amount considered into the formulation. We use the supermarket pricing strategies literatures, cost management theory, and any information obtained from suppliers and supermarket to investigate the variables influenced the sale price gap between supplier sale price and supermarket sale price. In order to obtain the supermarket sale price, it is required to understand the concept of costs. Supermarket as a merchandising firm has two components of costs called purchase costs and operating expenses which are computed to be Cost of Goods Sold (COGS. We found that supplier sale price is the purchase costs and plays has the main role in determining the supermarket sale price. The operating expenses considered is the holding cost. The vegetable characteristics and consumer behaviour have driven the contribution of amount of variables into the sale price at supermarket. Finally, we present the variables satisfying the vegetable sale price formulation and how they are calculated becoming the supermarket sale price.

  17. Alberta producers' gas export prices slip

    International Nuclear Information System (INIS)

    Chandrasekharaiah, M.N.; Dubben, G.; Kolster, B.H.

    1992-01-01

    This paper reports that Alberta gas producers have approved a new contract with California buyers that includes slightly lower wellhead prices and more flexible pricing terms. The 1 year agreement, will apply a flexible price formula to gas sales. A basic volume of 212 MMcfd will receive $1.52 (U.S.)/Mcf. A and S also will buy 200 MMcfd at prices paid for other Alberta gas in the California market. It will have the right to buy added volumes at prices indexed to gas sold into California from the U.S. Southwest. Ballots cast by producers were to be verified by regulatory agencies in Alberta and British Columbia. The more flexible price terms in the new contract are seen as a positive development for negotiations in a dispute over long term contracts

  18. Changes in prices, sales, consumer spending, and beverage consumption one year after a tax on sugar-sweetened beverages in Berkeley, California, US: A before-and-after study.

    Science.gov (United States)

    Silver, Lynn D; Ng, Shu Wen; Ryan-Ibarra, Suzanne; Taillie, Lindsey Smith; Induni, Marta; Miles, Donna R; Poti, Jennifer M; Popkin, Barry M

    2017-04-01

    Taxes on sugar-sweetened beverages (SSBs) meant to improve health and raise revenue are being adopted, yet evaluation is scarce. This study examines the association of the first penny per ounce SSB excise tax in the United States, in Berkeley, California, with beverage prices, sales, store revenue/consumer spending, and usual beverage intake. Methods included comparison of pre-taxation (before 1 January 2015) and first-year post-taxation (1 March 2015-29 February 2016) measures of (1) beverage prices at 26 Berkeley stores; (2) point-of-sale scanner data on 15.5 million checkouts for beverage prices, sales, and store revenue for two supermarket chains covering three Berkeley and six control non-Berkeley large supermarkets in adjacent cities; and (3) a representative telephone survey (17.4% cooperation rate) of 957 adult Berkeley residents. Key hypotheses were that (1) the tax would be passed through to the prices of taxed beverages among the chain stores in which Berkeley implemented the tax in 2015; (2) sales of taxed beverages would decline, and sales of untaxed beverages would rise, in Berkeley stores more than in comparison non-Berkeley stores; (3) consumer spending per transaction (checkout episode) would not increase in Berkeley stores; and (4) self-reported consumption of taxed beverages would decline. Main outcomes and measures included changes in inflation-adjusted prices (cents/ounce), beverage sales (ounces), consumers' spending measured as store revenue (inflation-adjusted dollars per transaction) in two large chains, and usual beverage intake (grams/day and kilocalories/day). Tax pass-through (changes in the price after imposition of the tax) for SSBs varied in degree and timing by store type and beverage type. Pass-through was complete in large chain supermarkets (+1.07¢/oz, p = 0.001) and small chain supermarkets and chain gas stations (1.31¢/oz, p = 0.004), partial in pharmacies (+0.45¢/oz, p = 0.03), and negative in independent corner stores and

  19. 77 FR 9925 - Price Index Adjustments for Expenditure Limitations and Lobbyist Bundling Disclosure Threshold

    Science.gov (United States)

    2012-02-21

    ... FEDERAL ELECTION COMMISSION [Notice 2012-02] Price Index Adjustments for Expenditure Limitations...)(A)) are adjusted periodically to reflect changes in the consumer price index. See 2 U.S.C. 434(i)(3... difference between the price index, as certified to the Commission by the Secretary of Labor, for the 12...

  20. Social Security cost-of-living adjustments and the Consumer Price Index.

    Science.gov (United States)

    Burdick, Clark; Fisher, Lynn

    2007-01-01

    OASDI benefits are indexed for inflation to protect beneficiaries from the loss of purchasing power implied by inflation. In the absence of such indexing, the purchasing power of Social Security benefits would be eroded as rising prices raise the cost of living. By statute, cost-of-living adjustments (COLAs) for Social Security benefits are calculated using the Bureau of Labor Statistics (BLS) Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Some argue that this index does not accurately reflect the inflation experienced by the elderly population and should be changed to an elderly-specific price index such as the Experimental Consumer Price Index for Americans 62 Years of Age and Older, often referred to as the Consumer Price Index for the Elderly (CPI-E). Others argue that the measure of inflation underlying the COLA is technically biased, causing it to overestimate changes in the cost of living. This argument implies that current COLAs tend to increase, rather than merely maintain, the purchasing power of benefits over time. Potential bias in the CPI as a cost-of-living index arises from a number of sources, including incomplete accounting for the ability of consumers to substitute goods or change purchasing outlets in response to relative price changes. The BLS has constructed a new index called the Chained Consumer Price Index for All Urban Consumers (C-CPI-U) that better accounts for those consumer adjustments. Price indexes are not true cost-of-living indexes, but approximations of cost-of-living indexes (COLI). The Bureau of Labor Statistics (2006a) explains the difference between the two: As it pertains to the CPI, the COLI for the current month is based on the answer to the following question: "What is the cost, at this month ' market prices, of achieving the standard of living actually attained in the base period?" This cost is a hypothetical expenditure-the lowest expenditure level necessary at this month's prices to achieve the

  1. 16 CFR 503.6 - Packagers' duty to withhold availability of packages imprinted with retail sale price...

    Science.gov (United States)

    2010-01-01

    ... THE FAIR PACKAGING AND LABELING ACT STATEMENTS OF GENERAL POLICY OR INTERPRETATION § 503.6 Packagers... reason to know that it will be used as an instrumentality for deception or for frustration of value... fully passes on to the purchasers the represented savings or sale price advantage. (b) A packager or...

  2. 75 FR 8353 - Price Index Adjustments for Expenditure Limitations and Lobbyist Bundling Disclosure Threshold

    Science.gov (United States)

    2010-02-24

    ... FEDERAL ELECTION COMMISSION [Notice 2010-02] Price Index Adjustments for Expenditure Limitations... price index. See 2 U.S.C. 434(i)(3) and 441a(c)(1), and 11 CFR 109.32 and 110.17(a), (f). The Commission... is increased by 4.35110, which reflects the difference between the price index, as certified to the...

  3. Changes in prices, sales, consumer spending, and beverage consumption one year after a tax on sugar-sweetened beverages in Berkeley, California, US: A before-and-after study

    Science.gov (United States)

    Ryan-Ibarra, Suzanne; Taillie, Lindsey Smith; Induni, Marta

    2017-01-01

    Background Taxes on sugar-sweetened beverages (SSBs) meant to improve health and raise revenue are being adopted, yet evaluation is scarce. This study examines the association of the first penny per ounce SSB excise tax in the United States, in Berkeley, California, with beverage prices, sales, store revenue/consumer spending, and usual beverage intake. Methods and findings Methods included comparison of pre-taxation (before 1 January 2015) and first-year post-taxation (1 March 2015–29 February 2016) measures of (1) beverage prices at 26 Berkeley stores; (2) point-of-sale scanner data on 15.5 million checkouts for beverage prices, sales, and store revenue for two supermarket chains covering three Berkeley and six control non-Berkeley large supermarkets in adjacent cities; and (3) a representative telephone survey (17.4% cooperation rate) of 957 adult Berkeley residents. Key hypotheses were that (1) the tax would be passed through to the prices of taxed beverages among the chain stores in which Berkeley implemented the tax in 2015; (2) sales of taxed beverages would decline, and sales of untaxed beverages would rise, in Berkeley stores more than in comparison non-Berkeley stores; (3) consumer spending per transaction (checkout episode) would not increase in Berkeley stores; and (4) self-reported consumption of taxed beverages would decline. Main outcomes and measures included changes in inflation-adjusted prices (cents/ounce), beverage sales (ounces), consumers’ spending measured as store revenue (inflation-adjusted dollars per transaction) in two large chains, and usual beverage intake (grams/day and kilocalories/day). Tax pass-through (changes in the price after imposition of the tax) for SSBs varied in degree and timing by store type and beverage type. Pass-through was complete in large chain supermarkets (+1.07¢/oz, p = 0.001) and small chain supermarkets and chain gas stations (1.31¢/oz, p = 0.004), partial in pharmacies (+0.45¢/oz, p = 0.03), and

  4. Analysis on PV system sales price and subsidy through buy-back which make photovoltaics cost-competitive by 2030 in Japan

    International Nuclear Information System (INIS)

    Endo, E.; Ichinohe, M.

    2004-01-01

    The purpose of this paper is to analyze PV system sales price and subsidy through buy-back which make photovoltaics cost-competitive against other energy technologies and make the target for PV capacity achievable by 2030 in Japan under expected carbon tax. For the analysis energy system of Japan is modeled by using MARKAL. According to the results of analysis, under 6000 JPY/t-C carbon tax, photovoltaics needs subsidy for a while even if we taking both fuel savings and Green Credit into account. For attaining the national target for PV capacity in 2010, photovoltaics needs more expensive buy-back than that in present, but after 2010 necessary buy-back decreases gradually. If 120 JPY/W PV system sales price is attained by 2030, photovoltaics becomes cost-competitive without any supports. Subsidy through buy-back becomes almost need not in 2030, if we can reduce it less than 170 JPY/W. The total subsidy meets peak in 2025. It is much more than ongoing subsidy to capital cost of PV systems, but annual revenue of the assumed carbon tax can afford enough the annual total subsidy. This means if photovoltaics can attain the PV system sales price, we should support it for a while by spending carbon tax revenue effectively and efficiently. (authors)

  5. Impact of the smoking ban on the volume of bar sales in Ireland: evidence from time series analysis.

    Science.gov (United States)

    Cornelsen, Laura; Normand, Charles

    2012-05-01

    This paper is the first to estimate the economic impact of a comprehensive smoking ban in all enclosed public places of work, on bars in Ireland. The demand in bars, represented by a monthly index of sales volume, is explained by relative prices in bars, prices of alcohol sold in off-licences and the aggregate retail sales (ARS) as a proxy for general economic activity and incomes. The smoking ban is included into the model as a step dummy and the modelling is done using ARIMAX strategy. The results show a reduction in the volume of sales in bars by -4.6% (p<0.01) following the ban. Copyright © 2011 John Wiley & Sons, Ltd.

  6. 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...

  7. The influence of price-related point-of-sale promotions on bottle shop purchases of young adults.

    Science.gov (United States)

    Jones, Sandra C; Barrie, Lance; Gregory, Parri; Allsop, Steve; Chikritzhs, Tanya

    2015-03-01

    To investigate the impact of point-of-sale promotions on product choice, brand choice and purchase quantity of young adults purchasing alcohol for off-premise consumption in Australia. A cross-sectional interviewer-completed survey conducted at 24 bottle shops (liquor stores), 12 each in the capital cities of Sydney, New South Wales and Perth, Western Australia. Participants were 509 adults (18 and over) exiting bottle shops having purchased alcohol. When prompted, 26.5% indicated that there was a special offer, price discount, or special promotion connected with a product that they had purchased. Those who participated in point-of-sale promotions purchased a greater quantity of alcohol than those who did not participate: ready to drink, an average of 11.5 standard drinks (SD) compared with an average of 8.9 SD (t = 1.320, P = 0.190); beer, an average of 26.8 SD compared with an average of 16.4 SD; wine, an average of 16.1 SD compared with an average of 13.8 SD (t = 0.924, P = 0.357). Participation in point-of-sale promotions may be associated with increased purchase quantities, not solely shifting between brands. There is a need for further research to explore changes in purchase and consumption patterns as a result of the availability of price-based promotions. The results of this study, combined with previous research, suggest that regulators-and marketers-should consider the immediate and cumulative effect of point-of-sale promotions on drinking patterns, particularly those of younger drinkers. © 2014 Australasian Professional Society on Alcohol and other Drugs.

  8. 76 FR 8368 - Price Index Adjustments for Contribution and Expenditure Limits and Lobbyist Bundling Disclosure...

    Science.gov (United States)

    2011-02-14

    ... FEDERAL ELECTION COMMISSION [Notice 2011-01] Price Index Adjustments for Contribution and... lobbyists (2 U.S.C. 434(i)(3)(A)) are adjusted periodically to reflect changes in the consumer price index... percent difference between the price index, as certified to the Commission by the Secretary of Labor, for...

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

    International Nuclear Information System (INIS)

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

    2009-01-01

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

  10. The association between price, competition, and demand factors on private sector anti-malarial stocking and sales in western Kenya: considerations for the AMFm subsidy

    Science.gov (United States)

    2013-01-01

    Background Households in sub-Saharan Africa are highly reliant on the retail sector for obtaining treatment for malaria fevers and other illnesses. As donors and governments seek to promote the use of artemisinin combination therapy in malaria-endemic areas through subsidized anti-malarials offered in the retail sector, understanding the stocking and pricing decisions of retail outlets is vital. Methods A survey of all medicine retailers serving Bungoma East District in western Kenya was conducted three months after the launch of the AMFm subsidy in Kenya. The survey obtained information on each anti-malarial in stock: brand name, price, sales volume, outlet characteristics and GPS co-ordinates. These data were matched to household-level data from the Webuye Health and Demographic Surveillance System, from which population density and fever prevalence near each shop were determined. Regression analysis was used to identify the factors associated with retailers’ likelihood of stocking subsidized artemether lumefantrine (AL) and the association between price and sales for AL, quinine and sulphadoxine-pyrimethamine (SP). Results Ninety-seven retail outlets in the study area were surveyed; 11% of outlets stocked subsidized AL. Size of the outlet and having a pharmacist on staff were associated with greater likelihood of stocking subsidized AL. In the multivariable model, total volume of anti-malarial sales was associated with greater likelihood of stocking subsidized AL and competition was important; likelihood of stocking subsidized AL was considerably higher if the nearest neighbour stocked subsidized AL. Price was a significant predictor of sales volume for all three types of anti-malarials but the relationship varied, with the largest price sensitivity found for SP drugs. Conclusion The results suggest that helping small outlets overcome the constraints to stocking subsidized AL should be a priority. Competition between retailers and prices can play an important

  11. Daily House Price Indices: Construction, Modeling, and Longer-Run Predictions

    DEFF Research Database (Denmark)

    Bollerslev, Tim; Patton, Andrew J.; Wang, Wenjing

    We construct daily house price indices for ten major U.S. metropolitan areas. Our calculations are based on a comprehensive database of several million residential property transactions and a standard repeat-sales method that closely mimics the methodology of the popular monthly Case-Shiller house...... price indices. Our new daily house price indices exhibit dynamic features similar to those of other daily asset prices, with mild autocorrelation and strong conditional heteroskedasticity of the corresponding daily returns. A relatively simple multivariate time series model for the daily house price...... index returns, explicitly allowing for commonalities across cities and GARCH effects, produces forecasts of monthly house price changes that are superior to various alternative forecast procedures based on lower frequency data....

  12. Changes in prices, sales, consumer spending, and beverage consumption one year after a tax on sugar-sweetened beverages in Berkeley, California, US: A before-and-after study.

    Directory of Open Access Journals (Sweden)

    Lynn D Silver

    2017-04-01

    Full Text Available Taxes on sugar-sweetened beverages (SSBs meant to improve health and raise revenue are being adopted, yet evaluation is scarce. This study examines the association of the first penny per ounce SSB excise tax in the United States, in Berkeley, California, with beverage prices, sales, store revenue/consumer spending, and usual beverage intake.Methods included comparison of pre-taxation (before 1 January 2015 and first-year post-taxation (1 March 2015-29 February 2016 measures of (1 beverage prices at 26 Berkeley stores; (2 point-of-sale scanner data on 15.5 million checkouts for beverage prices, sales, and store revenue for two supermarket chains covering three Berkeley and six control non-Berkeley large supermarkets in adjacent cities; and (3 a representative telephone survey (17.4% cooperation rate of 957 adult Berkeley residents. Key hypotheses were that (1 the tax would be passed through to the prices of taxed beverages among the chain stores in which Berkeley implemented the tax in 2015; (2 sales of taxed beverages would decline, and sales of untaxed beverages would rise, in Berkeley stores more than in comparison non-Berkeley stores; (3 consumer spending per transaction (checkout episode would not increase in Berkeley stores; and (4 self-reported consumption of taxed beverages would decline. Main outcomes and measures included changes in inflation-adjusted prices (cents/ounce, beverage sales (ounces, consumers' spending measured as store revenue (inflation-adjusted dollars per transaction in two large chains, and usual beverage intake (grams/day and kilocalories/day. Tax pass-through (changes in the price after imposition of the tax for SSBs varied in degree and timing by store type and beverage type. Pass-through was complete in large chain supermarkets (+1.07¢/oz, p = 0.001 and small chain supermarkets and chain gas stations (1.31¢/oz, p = 0.004, partial in pharmacies (+0.45¢/oz, p = 0.03, and negative in independent corner stores and

  13. Pepsi and Coca Cola in Delhi, India: availability, price and sales.

    Science.gov (United States)

    Taylor, Fiona C; Satija, Ambika; Khurana, Swati; Singh, Gurpreet; Ebrahim, Shah

    2011-04-01

    India is experiencing increased consumption of sugar-sweetened carbonated drinks, consumption that may be associated with increased risk of type 2 diabetes and obesity. The aim of the study was to determine the availability, price and quantity sold of 'Pepsi' and 'Coca Cola' in their 'regular' and 'diet' forms in Delhi and London. A questionnaire about the availability, price and quantity sold per day of both regular and diet Pepsi and Coca Cola was devised and piloted. Using this, a survey of food and drink outlets within a 100 m radius of randomly selected Metro stations was conducted in both cities. Store vendors, owners and staff of food and drink outlets. Delhi, India; London, United Kingdom. In Delhi, of the outlets stocking regular Pepsi and Coca Cola, only 34% sold diet versions and these were more readily available in the most affluent areas than in the poorest areas (34% v. 6%, Z=3.67, PCoca Cola was observed in Delhi; however, profit margins were better for regular, relative to diet, Coca Cola. Sales of regular products were significantly greater than those of diet products (PCoca Cola in less affluent areas of Delhi is likely to exacerbate the obesity and diabetes trends. Price differentials to promote diet versions and other healthier or traditional low-energy drinks may be beneficial.

  14. A Price Index for Deflation of Academic R&D Expenditures.

    Science.gov (United States)

    National Science Foundation, Washington, DC.

    This study relates to price trends affecting research and development (R&D) activities at academic institutions. Part I of this report provides the overall results of the study with limited discussion of measurement concepts, methodology and limitations. Part II deals with price indexes and deflation-general concepts and methodology. Part III…

  15. Impact of Gautrain stations on property prices and sales activity in the City of Johannesburg between 2006 and 2015

    CSIR Research Space (South Africa)

    Arnold, Kathryn A

    2017-08-01

    Full Text Available The core objective of this study was to analyse the impact of three Gautrain stations on real estate in the City of Johannesburg, looking specifically at how the Sandton, Rosebank and Midrand stations affected property prices and sales activity...

  16. The impact of house price index specification levels on the risk profile of housing corporations

    NARCIS (Netherlands)

    Kramer, B.; Kuijl, T.; Francke, M.

    2009-01-01

    Asset Liability Management (ALM) for housing corporations is based on stochastic scenario models for important risk and return drivers such as interest and inflation rates, construction costs and sales prices of houses. Given the situation of the housing corporation (current real estate portfolio,

  17. Coal Price Forecasting and Structural Analysis in China

    Directory of Open Access Journals (Sweden)

    Xiaopeng Guo

    2016-01-01

    Full Text Available Coal plays an important role in China’s energy structure and its price has been continuously decreasing since the second half of 2012. Constant low price of coal affected the profits of coal enterprises and the coal use of its downstream firms; the precision of coal price provides a reference for these enterprises making their management strategy. Based on the historical data of coal price and related factors such as port stocks, sales volume, futures prices, Producer Price Index (PPI, and crude oil price rate from November 2013 to June 2016, this study aims to forecast coal price using vector autoregression (VAR model and portray the dynamic correlations between coal price and variables by the impulse response function and variance decomposition. Comparing predicted and actual values, the root mean square error (RMSE was small which indicated good precision of this model. Thus this short period prediction can help these enterprises make the right business decisions.

  18. 10 CFR 625.3 - Standard sales provisions.

    Science.gov (United States)

    2010-01-01

    ... 10 Energy 4 2010-01-01 2010-01-01 false Standard sales provisions. 625.3 Section 625.3 Energy DEPARTMENT OF ENERGY (CONTINUED) SALES REGULATION PRICE COMPETITIVE SALE OF STRATEGIC PETROLEUM RESERVE PETROLEUM § 625.3 Standard sales provisions. (a) Contents. The Standards Sales Provisions shall contain...

  19. A comparison of generic drug prices in seven European countries: a methodological analysis.

    Science.gov (United States)

    Wouters, Olivier J; Kanavos, Panos G

    2017-03-31

    Policymakers and researchers frequently compare the prices of medicines between countries. Such comparisons often serve as barometers of how pricing and reimbursement policies are performing. The aim of this study was to examine methodological challenges to comparing generic drug prices. We calculated all commonly used price indices based on 2013 IMS Health data on sales of 3156 generic drugs in seven European countries. There were large differences in generic drug prices between countries. However, the results varied depending on the choice of index, base country, unit of volume, method of currency conversion, and therapeutic category. The results also differed depending on whether one looked at the prices charged by manufacturers or those charged by pharmacists. Price indices are a useful statistical approach for comparing drug prices across countries, but researchers and policymakers should interpret price indices with caution given their limitations. Price-index results are highly sensitive to the choice of method and sample. More research is needed to determine the drivers of price differences between countries. The data suggest that some governments should aim to reduce distribution costs for generic drugs.

  20. The Price and Determination of the Price in the Sales Agreement

    Directory of Open Access Journals (Sweden)

    Sasha Dukoski

    2017-08-01

    Full Text Available The development of international trade in the current conditions of globalization and the impact of the development of the global economy, but also cooperation and closeness among nations is not left without legal rules designed to underpin the relations of social commerce with foreign elements. One of the relevant dimensions of international trade is the contract for international sales. The performance of the contract for international sales also includes the legal problems that are detected by identifying and enabling precise adaptation clauses to represent the progress of future contractual relations with a foreign element. Specific clauses of the contracts for international sales are of great importance and interest because they cover legal reality in the direction in which the contract is emerging as an effective tool for the achievement of the interests of the parties and the purposes for which they were created. This reality is the reason that has pushed to making efforts in understanding and improvement of specific clauses of the contract for international sales in order to monitor the dynamic changes in the business and legal community.

  1. Basic Assumptions of the New Price System and Supplements to the Tariff System for Electricity Sale

    International Nuclear Information System (INIS)

    Klepo, M.

    1995-01-01

    The article outlines some basic assumptions of the new price system and major elements of the latest proposition for the changes and supplements to the Tariff system for Electricity Sale in the Republic of Croatia, including the analysis of those elements which brought about the present unfavourable and non-productive relations within the electric power system. The paper proposes measures and actions which should by means of a price system and tariff policy improve the present unfavourable relations and their consequences and achieve a desirable consumption structure and characteristics, resulting in rational management and effective power supply-economy relationships within the electric power system as a subsystem of the power supply sector. (author). 2 refs., 3 figs., 4 tabs

  2. Price Response to Factor Index Additions and Deletions

    NARCIS (Netherlands)

    J.J. Huij (Joop); G.S. Kyosev (Georgi)

    2016-01-01

    textabstractAbnormal price reaction around S&P 500 index changes has been considered as strong evidence that long term demand for stocks is downward sloping. This notion, however, has recently lost popularity due to the evidence that new additions are accompanied with a contemporaneous change in

  3. Complex dynamics of a MC-MS pricing model for a risk-averse supply chain with after-sale investment

    Science.gov (United States)

    Ma, Junhai; Sun, Lijian

    2015-09-01

    In this paper, we investigate the pricing strategy of the manufacturers and that of a common retailer, including their after-sale investment in a risk-averse supply chain. As the demand is not always for sure, the supply chain follows Manufacturers Cooperating (MC) and Manufacturers Stackelberg (MS). The main objective of the paper is to investigate the influence of the decision parameters such as the after-sale investment, wholesale price adjustment speed and risk preference on the stability and utilities of the risk-averse supply chain. The dynamic phenomena, such as the bifurcation, chaos and sensitivity to initial values are analyzed with 2D-bifurcation diagrams, double largest Lyapunov exponent and basins of attraction. The study shows that the faster the adjustment speed is, the more profits the retailer can make, but on the other hand, it is no good to manufacturers. Risk tolerance levels (RM and RR) affect the utility of the manufacturers and that of the retailer differently. A feedback control method is used to control the chaos in the supply chain.

  4. Value at Risk on Composite Price Share Index Stock Data

    Science.gov (United States)

    Oktaviarina, A.

    2018-01-01

    The financial servicest authority was declared Let’s Save Campaign on n commemoration of the World Savings Day that falls on this day, October 31, 2016. The activity was greeted enthusiastically by Indonesia Stock Exchange by taking out the slogan Let’s Save The Stocks. Stock is a form of investment that is expected to benefit in the future despite has risks. Value at Risk (VaR) is a method that can measure how much the risk of a financial investment. Composite Stock Price Indeks is the stock price index used by Indonesia Stock Exchange as stock volatility benchmarks in Indonesia. This study aimed to estimate Value at Risk (VaR) on closing price Composite Price Share Index Stock data on the period 20 September 2016 until 20 September 2017. Box-Pierce test results p value=0.9528 which is greater than a, that shows homoskedasticity. Value at Risk (VaR) with Variance Covariance Method is Rp.3.054.916,07 which means with 99% confindence interval someone who invests Rp.100.000.000,00 will get Rp.3.054.916,07 as a maximum loss.

  5. Pricing effects on food choices.

    Science.gov (United States)

    French, Simone A

    2003-03-01

    Individual dietary choices are primarily influenced by such considerations as taste, cost, convenience and nutritional value of foods. The current obesity epidemic has been linked to excessive consumption of added sugars and fat, as well as to sedentary lifestyles. Fat and sugar provide dietary energy at very low cost. Food pricing and marketing practices are therefore an essential component of the eating environment. Recent studies have applied economic theories to changing dietary behavior. Price reduction strategies promote the choice of targeted foods by lowering their cost relative to alternative food choices. Two community-based intervention studies used price reductions to promote the increased purchase of targeted foods. The first study examined lower prices and point-of-purchase promotion on sales of lower fat vending machine snacks in 12 work sites and 12 secondary schools. Price reductions of 10%, 25% and 50% on lower fat snacks resulted in an increase in sales of 9%, 39% and 93%, respectively, compared with usual price conditions. The second study examined the impact of a 50% price reduction on fresh fruit and baby carrots in two secondary school cafeterias. Compared with usual price conditions, price reductions resulted in a four-fold increase in fresh fruit sales and a two-fold increase in baby carrot sales. Both studies demonstrate that price reductions are an effective strategy to increase the purchase of more healthful foods in community-based settings such as work sites and schools. Results were generalizable across various food types and populations. Reducing prices on healthful foods is a public health strategy that should be implemented through policy initiatives and industry collaborations.

  6. 33 CFR 211.109 - Contract of sale.

    Science.gov (United States)

    2010-07-01

    ... Navigation Project in Oklahoma, to Former Owners § 211.109 Contract of sale. Upon determination of the price... and deliver it to the applicant for acceptance. The contract of sale shall provide for the deposit of earnest money equal to twenty (20) percent of the price at which the land will be sold or the estimated...

  7. The impact of a local sugar sweetened beverage health promotion and price increase on sales in public leisure centre facilities.

    Science.gov (United States)

    Breeze, Penny; Womack, Robert; Pryce, Robert; Brennan, Alan; Goyder, Elizabeth

    2018-01-01

    We aimed to evaluate the impact of a local sugar sweetened beverages (SSB) health promotion and 20p price increase in leisure centre venues and estimate the impact on consumption. Monthly cold drinks sales data and attendance at leisure centres across the city of Sheffield were analysed over the period January 2015-July 2017. Interrupted time-series methods were employed to estimate changes in consumption per attendance of SSB and non-SSB cold drinks following the introduction of the SSB policy from August 2016 adjusting for seasonal variation and autocorrelation. SSB price elasticities were estimated with fixed effects log-log models by SSB product type (soda can, soda bottle, soda post mix, energy drinks, juice from concentrate). We estimated a 31% (95% CI 4%, 59%) reduction in units of SSB sold per attendance in the year since the policy was introduced. We did not observe substitution effects to fruit juice or water but found sales of other artificially sweetened non-SSB products increased by 27% (95% CI 6%, 47%) after the introduction of the tax. Price elasticity analysis identified that a 1% increase in price alongside health promotion leads to a 3.8% (95% CI 3.1% 4.4%) decrease in demand for SSB's. Price elasticity of demand was highest for child friendly and high caffeine energy drinks. Demand for SSB drinks at leisure centre venues is highly responsive to the policy, particularly for child-friendly and high caffeine energy drinks, compared with other SSB tax policy evaluations. The policy also increased purchases of carbonated non-SSB.

  8. Brand placement on price boards after tobacco display bans: a point-of-sale audit in Melbourne, Australia.

    Science.gov (United States)

    Wakefield, Melanie; Zacher, Meghan; Scollo, Michelle; Durkin, Sarah

    2012-11-01

    This study aims to explore how cigarette brands are arranged on boards listing tobacco products and/or prices following the 1 January 2011 ban on point-of-sale tobacco displays in Victoria, Australia. An audit undertaken in late 2011 gathered information on the prevalence and contents of tobacco product information displays ('price boards'). We examined how often all or most of the brands listed at the top of price boards were owned by the same tobacco company, and whether premium, mainstream and value brands were listed in prominent positions more frequently in different store types and socio-economic areas (SES). Of the 281 stores audited, 64% (179) had legible price boards. Of the 178 with factory-made products, 11% arranged brands alphabetically, 2% by price and 87% did so in some other way. In 65% of stores where brands were arranged in some other way, at least three of the top four positions were devoted to brands owned by the same tobacco company. Premium brands were given greater prominence than would be expected by market share. Neighbourhood SES was significantly related to the representation in the most prominent price board positions of brands from the most appropriate market segment. Price boards are being used to target brands to consumers. Jurisdictions should also prohibit price board display when they ban tobacco product display; prices might instead be itemised in alphabetical order on a list only viewable upon customer request.

  9. Fractional Ornstein-Uhlenbeck for index prices of FTSE Bursa Malaysia KLCI

    Science.gov (United States)

    Chen, Kho Chia; Bahar, Arifah; Ting, Chee-Ming

    2014-07-01

    This paper studies the Ornstein-Uhlenbeck model that incorporates long memory stochastic volatility which is known as fractional Ornstein-Uhlenbeck model. The determination of the existence of long range dependence of the index prices of FTSE Bursa Malaysia KLCI is measured by the Hurst exponent. The empirical distribution of unobserved volatility is estimated using the particle filtering method. The performance between fractional Ornstein -Uhlenbeck and standard Ornstein -Uhlenbeck process had been compared. The mean square errors of the fractional Ornstein-Uhlenbeck model indicated that the model describes index prices better than the standard Ornstein-Uhlenbeck process.

  10. 75 FR 49411 - Consumer Price Index Adjustments of Oil Pollution Act of 1990 Limits of Liability-Vessels and...

    Science.gov (United States)

    2010-08-13

    ... Consumer Price Index Adjustments of Oil Pollution Act of 1990 Limits of Liability--Vessels and Deepwater... ports to reflect significant increases in the Consumer Price Index. The amendment triggered information... interim rule entitled ``Consumer Price Index Adjustments of Oil Pollution Act of 1990 Limits of Liability...

  11. Diet Quality of Items Advertised in Supermarket Sales Circulars Compared to Diets of the US Population, as Assessed by the Healthy Eating Index-2010.

    Science.gov (United States)

    Jahns, Lisa; Scheett, Angela J; Johnson, LuAnn K; Krebs-Smith, Susan M; Payne, Collin R; Whigham, Leah D; Hoverson, Bonita S; Kranz, Sibylle

    2016-01-01

    Supermarkets use sales circulars to highlight specific foods, usually at reduced prices. Resulting purchases help form the set of available foods within households from which individuals and families make choices about what to eat. The purposes of this study were to determine how closely foods featured in weekly supermarket sales circulars conform to dietary guidance and how diet quality compares with that of the US population's intakes. Food and beverage items (n=9,149) in 52 weekly sales circulars from a small Midwestern grocery chain in 2009 were coded to obtain food group and nutrient and energy content. Healthy Eating Index-2010 (HEI-2010) total and component scores were calculated using algorithms developed by the National Cancer Institute. HEI-2010 scores for the US population aged 2+ years were estimated using data from the 2009-2010 National Health and Nutrition Examination Survey. HEI-2010 scores of circulars and population intakes were compared using Student's t tests. Mean total (42.8 of 100) HEI-2010 scores of circulars were lower than that of the US population (55.4; Pdiet quality. Supermarkets could support improvements in consumer diets by weekly featuring foods that are more in concordance with food and nutrient recommendations. Copyright © 2016 Academy of Nutrition and Dietetics. Published by Elsevier Inc. All rights reserved.

  12. The development of a value based pricing index for new drugs in metastatic colorectal cancer.

    Science.gov (United States)

    Dranitsaris, George; Truter, Ilse; Lubbe, Martie S

    2011-06-01

    Worldwide, prices for cancer drugs have been under downward pressure where several governments have mandated price cuts of branded products. A better alternative to government mandated price cuts would be to estimate a final price based on drug performance, cost effectiveness and a country's ability to pay. We developed a global pricing index for new cancer drugs in patients with metastatic colorectal cancer (mCRC) that encompasses all of these attributes. A pharmacoeconomic model was developed to simulate mCRC patients receiving chemotherapy plus a 'new drug' that improves survival by 1.4, 3 and 6months, respectively. Cost and utility data were obtained from cancer centres and oncology nurses (n=112) in Canada, Spain, India, South Africa and Malaysia. Multivariable analysis was then used to develop the pricing index, which considers survival benefit, per capita GDP and income dispersion (as measured by the Gini coefficient) as predictor variables. Higher survival benefits were associated with elevated drug prices, especially in higher income countries such as Canada. For Argentina with a per capita GDP of $15,000 and a Gini coefficient of 51, the index estimated that for a drug which provides a 4month survival benefit in mCRC, the value based price would be $US 630 per dose. In contrast, the same drug in a wealthier country like Norway (per capita GDP=$50,000) could command a price of $US 2,775 per dose. The application of this index to estimate a price based on cost effectiveness and the wealth of a nation would be important for opening dialogue between the key stakeholders and a better alternative to government mandated price cuts. Copyright © 2011 Elsevier Ltd. All rights reserved.

  13. The sale of alcohol in Denmark

    DEFF Research Database (Denmark)

    laCour, Lisbeth; Milhøj, Anders

    2009-01-01

    How do prices affect the choice of types of alcohol in Denmark? We study the Danish sale of alcoholic beverages in a time series framework. First, we look at annual data from 1980 investigating the hypothesis of a fairly stable level of sales. We conclude stationarity of sales and we also find...

  14. Influence of purchaser perceptions and intentions on price for forest land parcels: a hedonic pricing approach

    Science.gov (United States)

    Stephanie A. Snyder; Michael A. Kilgore; Rachel Hudson; Jacob Donnay

    2008-01-01

    A hedonic model was developed to analyze the market for undeveloped forest land in Minnesota. Variables describing in situ conditions, locational characteristics, buyer perceptions and intentions, and transactional terms were tested for their influence on sale price. The independent variables explained 67% of the per hectare sale price variation. Water frontage, road...

  15. Short sales, differences of opinion and fundamental value

    NARCIS (Netherlands)

    Brounen, Dirk; Porras Prado, M.; Ling, D.C.

    2013-01-01

    This study explores the role of short sale constraints in explaining the variation in premiums to Net Asset Value (NAV) in REIT pricing. We use proprietary information on short sales between June 2006 and September 2008 to examine how short sales and short sale constraints affect the variation in

  16. THE EFFECT OF MACROECONOMIC VARIABLES ON BANKING STOCK PRICE INDEX IN INDONESIA STOCK EXCHANGE

    Directory of Open Access Journals (Sweden)

    Laduna R.

    2018-01-01

    Full Text Available Stock price index can be regarded as a barometer in the measuremet of a nation’s economic condition, besides it can also be used in conducting statistical analysis on the current market. Stock is the proof of one’s share in a company in the form of securities issued by the listed go-public companies. This study was conducted to measure the effect of macroeconomic variables such as inflation, interest rate, and exchange rate on banking stock price index in Indonesia stock exchange or Bursa Efek Indonesia (BEI. The results of study show that inflation and exchange rate posively influence the stock price index. The positive effect of the exchange rate shows that issuers who were positively affected by Rupiah (IDR depreciation appear to be the most dominant group. Meanwhile, the interest rate or Suku Bunga (SBI has a negative effect. Lower interest rate stimulates higher investments and better economic activities which increase the stock price.

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

    Directory of Open Access Journals (Sweden)

    N.L. Pravdyuk

    2017-03-01

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

  18. Analysis of Pricing Techniques in Determining a Fair and Reasonable Price

    National Research Council Canada - National Science Library

    Redman, Kevin

    1998-01-01

    The purpose of this thesis is to idenfity the principal techniques used by firms in pricing products for sale to the Government and to examine and analyze the conditions contributing to a firm's pricing strategy...

  19. Terms of payment in the sales contract

    OpenAIRE

    Harmáčková, Iva

    2009-01-01

    This thesis makes an analysis of price and terms of payment in the sales contract. Both elements are conceived in terms of legal framework and in terms of importance for the parties to an international sales contract. The theoretical part deals with the role of the sales contract in business relations, structure and legal norms of the international sales contract. The practical part includes an analysis of specific international sales contract.

  20. 24 CFR 906.29 - Below-Market sales and financing.

    Science.gov (United States)

    2010-04-01

    ... 24 Housing and Urban Development 4 2010-04-01 2010-04-01 false Below-Market sales and financing... sales and financing. A homeownership plan may provide for below-market purchase prices or below-market financing to enable below-market purchases, or a combination of the two. Discounted purchase prices may be...

  1. Forecasting ability of the investor sentiment endurance index: The case of oil service stock returns and crude oil prices

    International Nuclear Information System (INIS)

    He, Ling T.; Casey, K.M.

    2015-01-01

    Using a binomial probability distribution model this paper creates an endurance index of oil service investor sentiment. The index reflects the probability of the high or low stock price being the close price for the PHLX Oil Service Sector Index. Results of this study reveal the substantial forecasting ability of the sentiment endurance index. Monthly and quarterly rolling forecasts of returns of oil service stocks have an overall accuracy as high as 52% to 57%. In addition, the index shows decent forecasting ability on changes in crude oil prices, especially, WTI prices. The accuracy of 6-quarter rolling forecasts is 55%. The sentiment endurance index, along with the procedure of true forecasting and accuracy ratio, applied in this study provides investors and analysts of oil service sector stocks and crude oil prices as well as energy policy-makers with effective analytical tools

  2. 22 CFR 201.64 - Application of the price rules to commodities.

    Science.gov (United States)

    2010-04-01

    .... 201.64 Section 201.64 Foreign Relations AGENCY FOR INTERNATIONAL DEVELOPMENT RULES AND PROCEDURES... purchase price of a commodity exceeds the price in comparable export sales or in comparable domestic sales... the determination of any prevailing market price of any commodity or any prevailing price or maximum...

  3. Forecasting inflation based on the consumer price index, taking into account the impact of seasonal factors

    Directory of Open Access Journals (Sweden)

    A. K. Sapova

    2017-01-01

    Full Text Available The consumer price index is a key indicator of the inflation level in Russia. It is important for the Central Bank and Government in decision-making process. There is a strong need for high-quality analysis and accurate forecast of this index. Modelling and forecasting of consumer price index as a key indicator of inflation are relevant issues in current macroeconomic conditions. The article is dedicated to development of quality short-term forecast of consumer inflation level, with the impact of seasonal factor. Two classes of models (vector autoregression and time series models are considered. It was shown that vector autoregression model of the dependency between consumer price index and nominal effective exchange rate is worse for the proposes of inflation forecast then non-linear model with structural components and conventional heteroscedasticity. The practical significance of this work is that the developed approach to the forecasting of the consumer price index adjusted of seasonal factor can be very helpful for the purpose of proper assessment and regulation of inflation.

  4. Social accounting matrix and the effects of economic reform on health price index and household expenditures: Evidence from Iran.

    Science.gov (United States)

    Keshavarz, Khosro; Najafi, Behzad; Andayesh, Yaghob; Rezapour, Aziz; Abolhallaj, Masoud; Sarabi Asiabar, Ali; Hashemi Meshkini, Amir; Sanati, Ehsan; Mirian, Iman; Nikfar, Shekoofeh; Lotfi, Farhad

    2017-01-01

    Background: Socioeconomic indicators are the main factors that affect health outcome. Health price index (HPI) and households living costs (HLC) are affected by economic reform. This study aimed at examining the effect of subsidy targeting plan (STP) on HPI and HLC. Methods: The social accounting matrix was used to study the direct and indirect effects of STP. We chose 11 health related goods and services including insurance, compulsory social security services, hospital services, medical and dental services, other human health services, veterinary services, social services, environmental health services, laundry& cleaning and dyeing services, cosmetic and physical health services, and pharmaceutical products in the social accounting matrix to examine the health price index. Data were analyzed by the I-O&SAM software. Results: Due to the subsidy release on energy, water, and bread prices, we found that (i) health related goods and services groups' price index rose between 33.43% and 77.3%, (ii) the living cost index of urban households increased between 48.75% and 58.21%, and (iii) the living cost index of rural households grew between 53.51% and 68.23%. The results demonstrated that the elimination of subsidy would have negative effects on health subdivision and households' costs such that subsidy elimination increased the health prices index and the household living costs, especially among low-income families. The STP had considerable effects on health subdivision price index. Conclusion: The elimination or reduction of energy carriers and basic commodities subsidies have changed health price and households living cost index. Therefore, the policymakers should consider controlling the price of health sectors, price fluctuations and shocks.

  5. Heavy Drinkers and the Potential Impact of Minimum Unit Pricing-No Single or Simple Effect?

    Science.gov (United States)

    Gill, J; Black, H; Rush, R; O'May, F; Chick, J

    2017-11-01

    To explore the potential impact of a minimum unit price (MUP: 50 pence per UK unit) on the alcohol consumption of ill Scottish heavy drinkers. Participants were 639 patients attending alcohol treatment services or admitted to hospital with an alcohol-related condition. From their reported expenditure on alcohol in their index week, and assuming this remained unchanged, we estimated the impact of a MUP (50 ppu) on future consumption. (Around 15% purchased from both the more expensive on-sale outlets (hotels, pubs, bars) and from off-sales (shops and supermarkets). For them we estimated the change in consumption that might follow MUP if (i) they continued this proportion of 'on-sales' purchasing or (ii) their reported expenditure was moved entirely to off-sale purchasing (to maintain consumption levels)). Around 69% of drinkers purchased exclusively off-sale alcohol at sales purchases could support, for some, an increase in consumption. While a proportion of our harmed, heavy drinkers might be able to mitigate the impact of MUP by changing purchasing habits, the majority are predicted to reduce purchasing. This analysis, focusing specifically on harmed drinkers, adds a unique dimension to the evidence base informing current pricing policy. From drink purchasing data of heavy drinkers, we estimated the impact of legislating £0.50 minimum unit price. Over two thirds of drinkers, representing all multiple deprivation quintiles, were predicted to decrease alcohol purchasing; remainder, hypothetically, could maintain consumption. Our data address an important gap within the evidence base informing policy. © The Author 2017. Medical Council on Alcohol and Oxford University Press. All rights reserved.

  6. ON PRICE CHOICE AT SELLING OF INFORMATION RESOURCES

    Directory of Open Access Journals (Sweden)

    O. S. Ivanova

    2015-05-01

    Full Text Available The paper considers the problem of the pricing policy determination in the company, selling information resource at the market. The problem of the optimal price determination for an information resource is solved depending on the time for the case when the seller-company has no competitors in the market, the market is saturated, and buyers are not able to further spread of the resource. Conditions for the optimal choice of information resource price have been obtained; the maximum possible income of the company has been calculated for linear demand function, and conditions, determining the duration and volume of sales, providing the maximum of average income of the company, have been obtained as well. The problem of optimal price choice is solved by macrosystem approach that has made it possible to reduce it to the isoperimetric kind. It is shown that the optimal price dependence on time for a linear demand function should provide a linearly increasing rate of sales. Conditions have been derived under which the sales proceedings for an information resource are positive, relationship is determined between volume of sales and timeline at which the average income during the sales reaches its maximum. The results are given in dimensionless form, thereby reducing the number of independent parameters. These results are usable for the pricing analysis of software and other information products.

  7. 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...

  8. Slowing Menthol's Progress: Differential Impact of a Tobacco Tax Increase on Cigarette Sales.

    Science.gov (United States)

    Amato, Michael S; D'Silva, Joanne; Boyle, Raymond G

    2016-05-01

    The proportion of smokers who use menthol cigarettes has increased nationally since 2004, while use of non-menthol cigarettes is declining, suggesting that menthol may be undermining the effectiveness of population level tobacco control efforts. In 2013 Minnesota passed a $1.75 cigarette tax increase. We investigated whether sales of menthol and non-menthol cigarettes were differentially affected by the price increase. Cigarette sales data from convenience stores in the Minneapolis, Minnesota, metro area from January 2012, through May 2015, were obtained. Proportion of sales accounted for by menthol cigarettes was analyzed with segmented regression. Before the price increase, menthol cigarettes gained 2.21% (1.17, 3.12) of market share annually. Following the price increase, the trend slowed to 0.26% (-0.78, 1.56) annually. The slope before the price increase was significantly positive; the slope following the price increase did not significantly differ from zero. Sales of menthol cigarettes declined less rapidly than non-menthol cigarettes before the price increase. Sales of menthol and non-menthol cigarettes declined at more comparable rates after the price increase. Increasing the price of tobacco may help ensure declines in consumption are more evenly distributed across menthol and non-menthol cigarettes. Using sales data, we found that a trend of increasing market share for menthol cigarettes was significantly reduced by a $1.75 cigarette price increase. These results suggest that cigarette price increases, a core tobacco control policy, may have a greater effect on menthol smokers than non-menthol smokers. © The Author 2015. 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.

  9. 19 CFR 351.402 - Calculation of export price and constructed export price; reimbursement of antidumping and...

    Science.gov (United States)

    2010-04-01

    ... Export Price, Constructed Export Price, Fair Value, and Normal Value § 351.402 Calculation of export... (date of final determination of sales at less than fair value). (3) Presumption. The Secretary may...) Introduction. In order to establish export price, constructed export price, and normal value, the Secretary...

  10. The development of a value based pricing index for new drugs in metastatic colorectal cancer

    OpenAIRE

    Lubbe, Martha Susanna; Dranitsaris, George; Truter, Ilse

    2011-01-01

    Background Worldwide, prices for cancer drugs have been under downward pressure where several governments have mandated price cuts of branded products. A better alternative to government mandated price cuts would be to estimate a final price based on drug performance, cost effectiveness and a country’s ability to pay. We developed a global pricing index for new cancer drugs in patients with metastatic colorectal cancer (mCRC) that encompasses all of these attributes. Methods ...

  11. Study on Market Stability and Price Limit of Chinese Stock Index Futures Market: An Agent-Based Modeling Perspective.

    Science.gov (United States)

    Xiong, Xiong; Nan, Ding; Yang, Yang; Yongjie, Zhang

    2015-01-01

    This paper explores a method of managing the risk of the stock index futures market and the cross-market through analyzing the effectiveness of price limits on the Chinese Stock Index 300 futures market. We adopt a cross-market artificial financial market (include the stock market and the stock index futures market) as a platform on which to simulate the operation of the CSI 300 futures market by changing the settings of price limits. After comparing the market stability under different price limits by appropriate liquidity and volatility indicators, we find that enhancing price limits or removing price limits both play a negative impact on market stability. In contrast, a positive impact exists on market stability if the existing price limit is maintained (increase of limit by10%, down by 10%) or it is broadened to a proper extent. Our study provides reasonable advice for a price limit setting and risk management for CSI 300 futures.

  12. Modifying sales summaries can aid forest products industries

    Science.gov (United States)

    G. B. Harpole

    1976-01-01

    This Note illustrates how a sales summary can be modified to separately identify changes in sales realization caused by changes in market prices and by changes in the product mix sold. With this information, a sales summary can become a helpful record to gage effects of past production and marketing decisions.

  13. Delegating Pricing Decisions

    OpenAIRE

    Pradeep Bhardwaj

    2001-01-01

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

  14. 5 CFR 591.218 - How does OPM compute price indexes?

    Science.gov (United States)

    2010-01-01

    ... 5 Administrative Personnel 1 2010-01-01 2010-01-01 false How does OPM compute price indexes? 591.218 Section 591.218 Administrative Personnel OFFICE OF PERSONNEL MANAGEMENT CIVIL SERVICE REGULATIONS ALLOWANCES AND DIFFERENTIALS Cost-of-Living Allowance and Post Differential-Nonforeign Areas Cost-Of-Living...

  15. Price promotions on healthier compared with less healthy foods: a hierarchical regression analysis of the impact on sales and social patterning of responses to promotions in Great Britain.

    Science.gov (United States)

    Nakamura, Ryota; Suhrcke, Marc; Jebb, Susan A; Pechey, Rachel; Almiron-Roig, Eva; Marteau, Theresa M

    2015-04-01

    There is a growing concern, but limited evidence, that price promotions contribute to a poor diet and the social patterning of diet-related disease. We examined the following questions: 1) Are less-healthy foods more likely to be promoted than healthier foods? 2) Are consumers more responsive to promotions on less-healthy products? 3) Are there socioeconomic differences in food purchases in response to price promotions? With the use of hierarchical regression, we analyzed data on purchases of 11,323 products within 135 food and beverage categories from 26,986 households in Great Britain during 2010. Major supermarkets operated the same price promotions in all branches. The number of stores that offered price promotions on each product for each week was used to measure the frequency of price promotions. We assessed the healthiness of each product by using a nutrient profiling (NP) model. A total of 6788 products (60%) were in healthier categories and 4535 products (40%) were in less-healthy categories. There was no significant gap in the frequency of promotion by the healthiness of products neither within nor between categories. However, after we controlled for the reference price, price discount rate, and brand-specific effects, the sales uplift arising from price promotions was larger in less-healthy than in healthier categories; a 1-SD point increase in the category mean NP score, implying the category becomes less healthy, was associated with an additional 7.7-percentage point increase in sales (from 27.3% to 35.0%; P sales uplift from promotions was larger for higher-socioeconomic status (SES) groups than for lower ones (34.6% for the high-SES group, 28.1% for the middle-SES group, and 23.1% for the low-SES group). Finally, there was no significant SES gap in the absolute volume of purchases of less-healthy foods made on promotion. Attempts to limit promotions on less-healthy foods could improve the population diet but would be unlikely to reduce health

  16. Existence of a current price as a precondition for abstract method for calculating damages in international and Serbian sales law

    Directory of Open Access Journals (Sweden)

    Fišer-Šobot Sandra

    2014-01-01

    Full Text Available If the contract is avoided and there is a current price for the goods, the party claiming damages may recover the difference between the price fixed by the contract and the current price at specific time and at specific place. Abstract calculation of loss is possible only when the contract goods have current price. Current price is the price generally charged for such goods sold under comparable circumstances in the trade concerned. According to the CISG and Serbian Law of Obligations, for the determination of the current price is relevant time of avoidance. This general rule is not applicable in international sales law when the party claiming damages has avoided the contract after taking over the goods. In that case, the current price at the time of taking over shall be applicable instead of the current price at the time of avoidance. Current price rule contained in the Art. 76(2 of the CISG presupposes that the current price is the price prevailing at the place where the delivery of the goods should have been made, or if there is no current price at the place, the price at such other place as serves as a reasonable substitute, making due allowance for differences in the cost of transporting the goods. Pursuant to Art. 524(2 Of Serbian Law of Obligations, however, relevant is the price in the market of the place of effecting the transaction. Formulation place of effecting the transaction is unclear and vague and can create different problems. Therefore, this rule should be amended and the relevant place should be the place of delivery.

  17. Short Sales, Price Pressure, and the Stock Price Response to Convertible Bond Calls

    DEFF Research Database (Denmark)

    Bechmann, Ken L.

    2004-01-01

    The announcement of a convertible bond call is associated with an average contemporaneous abnormal stock price decline of 1.75% and an ensuing price recovery in the conversion period. A price fall and the subsequent recovery suggest price pressure as the explanation for the announcement effect...

  18. What have we learned from asset sales?

    International Nuclear Information System (INIS)

    Falk, J.

    1999-01-01

    The author has created a database of 33 sales of generating assets and has the characteristics of those sales to estimate the value of generating assets. The authors conclusion so far is negative: the sales observed to date have varied so widely in characteristics and price that observed sales data cannot be usefully employed to forecast with any reliability the price at which some other asset is likely to sell in a subsequent auction. The author concludes this does not mean that the auction method is in any way inferior to an administrative method for determining stranded costs. It simply means that there are at present no reliable inferences which can be drawn from this process to inform the administrative process. While this situation might change as more and more assets are auctioned, there are reasons to think that this may not be the case

  19. 41 CFR 109-45.304-2.50 - Negotiated sales and negotiated sales at fixed prices by designated contractors.

    Science.gov (United States)

    2010-07-01

    ... suitable advertised sale; (2) Personal property is of such small value that the proceeds to be derived... fair market value of the personal property and other satisfactory terms of disposal are obtained by... PERSONAL PROPERTY 45.3-Sale of Personal Property § 109-45.304-2.50 Negotiated sales and negotiated sales at...

  20. Impact of Maryland's 2011 alcohol sales tax increase on alcoholic beverage sales.

    Science.gov (United States)

    Esser, Marissa B; Waters, Hugh; Smart, Mieka; Jernigan, David H

    2016-07-01

    Increasing alcohol taxes has proven effective in reducing alcohol consumption, but the effects of alcohol sales taxes on sales of specific alcoholic beverages have received little research attention. Data on sales are generally less subject to reporting biases than self-reported patterns of alcohol consumption. We aimed to assess the effects of Maryland's July 1, 2011 three percentage point increase in the alcohol sales tax (6-9%) on beverage-specific and total alcohol sales. Using county-level data on Maryland's monthly alcohol sales in gallons for 2010-2012, by beverage type, multilevel mixed effects multiple linear regression models estimated the effects of the tax increase on alcohol sales. We controlled for seasonality, county characteristics, and national unemployment rates in the main analyses. In the 18 months after the tax increase, average per capita sales of spirits were 5.1% lower (p sales were 3.2% lower (p sales were 2.5% lower (p sales trends in the 18 months prior to the tax increase. Overall, the alcohol sales tax increase was associated with a 3.8% decline in total alcohol sold relative to what would have been expected based on sales in the prior 18 months (p increased alcohol sales taxes may be as effective as excise taxes in reducing alcohol consumption and related problems. Sales taxes also have the added advantages of rising with inflation and taxing the highest priced beverages most heavily.

  1. Point-of-purchase price and education intervention to reduce consumption of sugary soft drinks.

    Science.gov (United States)

    Block, Jason P; Chandra, Amitabh; McManus, Katherine D; Willett, Walter C

    2010-08-01

    We investigated whether a price increase on regular (sugary) soft drinks and an educational intervention would reduce their sales. We implemented a 5-phase intervention at the Brigham and Women's Hospital cafeteria in Boston, Massachusetts. After posting existing prices of regular and diet soft drinks and water during baseline, we imposed several interventions in series: a price increase of 35% on regular soft drinks, a reversion to baseline prices (washout), an educational campaign, and a combination price and educational period. We collected data from a comparison site, Beth Israel Deaconess Hospital, also in Boston, for the final 3 phases. Sales of regular soft drinks declined by 26% during the price increase phase. This reduction in sales persisted throughout the study period, with an additional decline of 18% during the combination phase compared with the washout period. Education had no independent effect on sales. Analysis of the comparison site showed no change in regular soft drink sales during the study period. A price increase may be an effective policy mechanism to decrease sales of regular soda. Further multisite studies in varied populations are warranted to confirm these results.

  2. Who is exposed to gas prices? How gasoline prices affect automobile manufacturers and dealerships

    OpenAIRE

    Silva-Risso, Jorge; Zettelmeyer, Florian; Busse, Meghan R.; Knittel, Christopher Roland

    2016-01-01

    Many consumers are keenly aware of gasoline prices, and consumer responses to gasoline prices have been well studied. In this paper, by contrast, we investigate how gasoline prices affect the automobile industry: manufacturers and dealerships. We estimate how changes in gasoline prices affect equilibrium prices and sales of both new and used vehicles of different fuel economies. We investigate the implications of these effects for individual auto manufacturers, taking into account differences...

  3. Who is exposed to gas prices? How gasoline prices affect automobile manufacturers and dealerships

    OpenAIRE

    Busse, Meghan R.; Kittel, Christopher R.; Zettelmeyer, Florian

    2012-01-01

    Many consumers are keenly aware of gasoline prices, and consumer responses to gasoline prices have been well studied. In this paper, by contrast, we investigate how gasoline prices affect the automobile industry: manufacturers and dealerships. We estimate how changes in gasoline prices affect equilibrium prices and sales of both new and used vehicles of different fuel economies. We investigate the implications of these effects for individual auto manufacturers, taking into account differences...

  4. 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.

  5. 5 CFR 591.224 - How does OPM adjust price indexes between surveys?

    Science.gov (United States)

    2010-01-01

    ... REGULATIONS ALLOWANCES AND DIFFERENTIALS Cost-of-Living Allowance and Post Differential-Nonforeign Areas Cost-Of-Living Allowances § 591.224 How does OPM adjust price indexes between surveys? (a) OPM adjusts...

  6. Transfer pricing: van basismethoden tot systeem

    NARCIS (Netherlands)

    Steens, H.B.A.

    The paper describes basic transfer pricing methods (e.g., cost plus, sales minus) and a framework for developing a consistent transfer pricing system as a consistent set of transfer prices for transactions using the basic methods and meeting managerial and fiscal requirements.

  7. Pricing Equity-Indexed Annuities under Stochastic Interest Rates Using Copulas

    Directory of Open Access Journals (Sweden)

    Patrice Gaillardetz

    2010-01-01

    Full Text Available We develop a consistent evaluation approach for equity-linked insurance products under stochastic interest rates. This pricing approach requires that the premium information of standard insurance products is given exogenously. In order to evaluate equity-linked products, we derive three martingale probability measures that reproduce the information from standard insurance products, interest rates, and equity index. These risk adjusted martingale probability measures are determined using copula theory and evolve with the stochastic interest rate process. A detailed numerical analysis is performed for existing equity-indexed annuities in the North American market.

  8. 48 CFR 245.7305 - Sale approval and award.

    Science.gov (United States)

    2010-10-01

    ... that the sale price is fair and reasonable, taking into consideration— (i) Knowledge or tests of the market; (ii) Current published prices for the property; (iii) The nature, condition, quantity, and...) Approve award to the responsible bidder whose bid is most advantageous to the Government, price and other...

  9. 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...

  10. Increased sales and thefts of candy as a function of sales promotion activities: Preliminary findings.

    Science.gov (United States)

    Carter, N; Kindstedt, A; Melin, L

    1995-01-01

    We used an A-B-A design to evaluate the effects of two commonly used promotional activities-price reduction and increased exposure, in combination and separately-on sales and thefts of candy at a grocery store. The combination of activities and the increased exposure condition produced the greatest increases in sales. The combination of activities was also associated with the greatest increase in thefts.

  11. FUEL PRICES AND CAR SALES

    OpenAIRE

    Vlad Cârstea

    2008-01-01

    Automotive industry is a very important economic sector that is highly responsive to changes in the world economy. The fuel price is the biggest enemy of car manufacturers. This is a compared analysis between Europe and Romania regarding new car registrations.

  12. Effects of sales promotions, weight status, and impulsivity on purchases in a supermarket.

    Science.gov (United States)

    Nederkoorn, Chantal

    2014-05-01

    Several environmental factors contribute to increased food consumption and play a role in the prevalence of obesity, like portion size, accessibility and relative price of high caloric foods, food commercials, and sales promotions. However, not everyone seems equally sensitive to these environmental cues and both obesity and impulsivity appears to play a role. In this study, food purchases in an internet supermarket are tested in 118 participants, with or without sales promotions for snack foods. Both weight status and response inhibition, an index of impulsivity, are measured. Participants with less inhibitory control purchased in total more calories from the internet supermarket then participants with more inhibitory control. In addition, sales promotion, weight status, and inhibitory control appeared to interact in their effect on snack food purchases: participants with less inhibitory control and overweight bought more calories of snacks in the sales promotions condition, but not in the control condition. For the other participants, with normal weight and/or high inhibitory control, sales promotions had no effect on their purchases of calories of snacks. It seems that especially the combination of low inhibitory control and overweight makes participants vulnerable for environmental cues. Copyright © 2013 The Obesity Society.

  13. 33 CFR 211.75 - Price.

    Science.gov (United States)

    2010-07-01

    ... 33 Navigation and Navigable Waters 3 2010-07-01 2010-07-01 false Price. 211.75 Section 211.75... Under Jurisdiction of Department of the Army for Cottage Site Development and Use § 211.75 Price. The... for a price equal to the fair market value of the site at the time of the sale. ...

  14. Dynamic pricing for demand response considering market price uncertainty

    DEFF Research Database (Denmark)

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

    2017-01-01

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

  15. Assessing the effect of oil price on world food prices: Application of principal component analysis

    International Nuclear Information System (INIS)

    Esmaeili, Abdoulkarim; Shokoohi, Zainab

    2011-01-01

    The objective of this paper is to investigate the co-movement of food prices and the macroeconomic index, especially the oil price, by principal component analysis to further understand the influence of the macroeconomic index on food prices. We examined the food prices of seven major products: eggs, meat, milk, oilseeds, rice, sugar and wheat. The macroeconomic variables studied were crude oil prices, consumer price indexes, food production indexes and GDP around the world between 1961 and 2005. We use the Scree test and the proportion of variance method for determining the optimal number of common factors. The correlation coefficient between the extracted principal component and the macroeconomic index varies between 0.87 for the world GDP and 0.36 for the consumer price index. We find the food production index has the greatest influence on the macroeconomic index and that the oil price index has an influence on the food production index. Consequently, crude oil prices have an indirect effect on food prices. - Research Highlights: →We investigate the co-movement of food prices and the macroeconomic index. →The crude oil price has indirect effect on the world GDP via its impacts on food production index. →The food production index is the source of causation for CPI and GDP is affected by CPI. →The results confirm an indirect effect among oil price, food price principal component.

  16. 75 FR 750 - Consumer Price Index Adjustments of Oil Pollution Act of 1990 Limits of Liability-Vessels and...

    Science.gov (United States)

    2010-01-06

    ... historical record of annual changes in the CPI-U (the Consumer Price Index--All Urban Consumers, Not...-AB25 Consumer Price Index Adjustments of Oil Pollution Act of 1990 Limits of Liability--Vessels and... final rule, without change, an interim rule published on July 1, 2009. The interim rule increased the...

  17. Prices and E-Cigarette Demand: Evidence From the European Union.

    Science.gov (United States)

    Stoklosa, Michal; Drope, Jeffrey; Chaloupka, Frank J

    2016-10-01

    Many European Union (EU) Member States have expressed the need for EU legislation to clarify the issue of e-cigarette taxation, but the economic evidence to inform creation of such policies has been lacking. To date, only one study-on the United States only-has examined responsiveness of e-cigarette demand to price changes. We used 2011-2014 pooled time-series data on e-cigarette sales, as well as e-cigarette and cigarette prices for six EU markets (Estonia, Ireland, Latvia, Lithuania, Sweden, and the United Kingdom). We utilized static and dynamic fixed-effects models to estimate the own and cross-price elasticity of demand for e-cigarettes. In a separate model for Sweden, we examined the effects of snus prices on e-cigarette sales. Based on static models, every 10% increase in e-cigarette prices is associated with a drop in e-cigarettes sales of approximately 8.2%, while based on dynamic models, the drop is 2.7% in the short run and 11.5% in the long run. Combustible cigarette prices are positively associated with sales of e-cigarettes. Snus prices are positively associated with sales of e-cigarettes in Sweden. Our results indicate that the sales of e-cigarettes are responsive to price changes, which suggests that excise taxes can help governments to mitigate an increase in e-cigarette use. E-cigarettes and regular cigarettes are substitutes, with higher cigarette prices being associated with increased e-cigarette sales. Making combustible cigarettes more expensive compared to e-cigarettes could be effective in moving current combustible smokers to e-cigarettes, which might have positive health effects. This study is an exploratory analysis of the issues around e-cigarette taxation in Europe. Our results suggest that taxation is a measure that could potentially address the concerns of both opponents and proponents of e-cigarettes: taxes on e-cigarettes could be used to raise prices so as to deter e-cigarette initiation by never users, while concomitant greater

  18. The impact of price and tobacco control policies on the demand for electronic nicotine delivery systems

    Science.gov (United States)

    Huang, Jidong; Tauras, John; Chaloupka, Frank J

    2014-01-01

    Background While much is known about the demand for conventional cigarettes, little is known about the determinants of demand for electronic nicotine delivery systems (ENDS or e-cigarettes). The goal of this study is to estimate the own and cross-price elasticity of demand for e-cigarettes and to examine the impact of cigarette prices and smoke-free policies on e-cigarette sales. Methods Quarterly e-cigarette prices and sales and conventional cigarette prices from 2009 to 2012 were constructed from commercial retail store scanner data from 52 US markets, for food, drug and mass stores, and from 25 markets, for convenience stores. Fixed-effects models were used to estimate the own and cross-price elasticity of demand for e-cigarettes and associations between e-cigarette sales and cigarette prices and smoke-free policies. Results Estimated own price elasticities for disposable e-cigarettes centred around −1.2, while those for reusable e-cigarettes were approximately −1.9. Disposable e-cigarette sales were higher in markets where reusable e-cigarette prices were higher and where less of the population was covered by a comprehensive smoke-free policy. There were no consistent and statistically significant relationships between cigarette prices and e-cigarette sales. Conclusions E-cigarette sales are very responsive to own price changes. Disposable e-cigarettes appear to be substitutes for reusable e-cigarettes. Policies increasing e-cigarette retail prices, such as limiting rebates, discounts and coupons and imposing a tax on e-cigarettes, could potentially lead to significant reductions in e-cigarette sales. Differential tax policies based on product type could lead to substitution between different types of e-cigarettes. PMID:24935898

  19. 7 CFR 1221.16 - Net market price.

    Science.gov (United States)

    2010-01-01

    ... AND ORDERS; MISCELLANEOUS COMMODITIES), DEPARTMENT OF AGRICULTURE SORGHUM PROMOTION, RESEARCH, AND INFORMATION ORDER Sorghum Promotion, Research, and Information Order Definitions § 1221.16 Net market price. Net market price means the sales price, or other value, per volumetric unit, received by a producer...

  20. Price promotions on healthier compared with less healthy foods: a hierarchical regression analysis of the impact on sales and social patterning of responses to promotions in Great Britain12345

    Science.gov (United States)

    Nakamura, Ryota; Suhrcke, Marc; Jebb, Susan A; Pechey, Rachel; Almiron-Roig, Eva; Marteau, Theresa M

    2015-01-01

    Background: There is a growing concern, but limited evidence, that price promotions contribute to a poor diet and the social patterning of diet-related disease. Objective: We examined the following questions: 1) Are less-healthy foods more likely to be promoted than healthier foods? 2) Are consumers more responsive to promotions on less-healthy products? 3) Are there socioeconomic differences in food purchases in response to price promotions? Design: With the use of hierarchical regression, we analyzed data on purchases of 11,323 products within 135 food and beverage categories from 26,986 households in Great Britain during 2010. Major supermarkets operated the same price promotions in all branches. The number of stores that offered price promotions on each product for each week was used to measure the frequency of price promotions. We assessed the healthiness of each product by using a nutrient profiling (NP) model. Results: A total of 6788 products (60%) were in healthier categories and 4535 products (40%) were in less-healthy categories. There was no significant gap in the frequency of promotion by the healthiness of products neither within nor between categories. However, after we controlled for the reference price, price discount rate, and brand-specific effects, the sales uplift arising from price promotions was larger in less-healthy than in healthier categories; a 1-SD point increase in the category mean NP score, implying the category becomes less healthy, was associated with an additional 7.7–percentage point increase in sales (from 27.3% to 35.0%; P sales uplift from promotions was larger for higher–socioeconomic status (SES) groups than for lower ones (34.6% for the high-SES group, 28.1% for the middle-SES group, and 23.1% for the low-SES group). Finally, there was no significant SES gap in the absolute volume of purchases of less-healthy foods made on promotion. Conclusion: Attempts to limit promotions on less-healthy foods could improve the

  1. Pricing of prescription drugs and its impact on physicians' choice behavior.

    Science.gov (United States)

    Miao-Sheng, Chen; Yu-Ti, Shih

    2008-09-01

    This research presents an analysis of Taiwan's health care market with the focus on the pricing of prescription drugs and its impact on physicians' choice behavior. Since the advent of Taiwan's national health insurance, with the competent authority being Bureau of National Health Insurance (BNHI), hospitals are allowed to sell prescription drugs to patients at prices above the purchasing prices, so each prescription drug has two prices: one at which drugs are sold to hospitals; the other which BNHI reimbursement to hospitals. The margin between the different prices is the sales discount that pharmaceutical companies offer to the hospitals. We find that sales discount has a great impact on physicians' choice behavior: i.e., physicians are price-sensitive to prescription drugs. In addition, it is found that too high a sales discount of a prescription drug would result in a too low weighted average price of that drug sold; thus BNHI would be more likely to adjust downward the rate it reimbursement to the hospital. This presents a sales strategy problem to pharmaceutical companies. To solve this, we use the distribution of physicians' evaluations of prescription drugs to establish a profit maximization model in hopes of helping companies to price drugs and find the optimal promotion expending. Ten popular prescription drugs are used in this research as examples.

  2. Pharmaceutical policies: effects of reference pricing, other pricing, and purchasing policies.

    Science.gov (United States)

    Acosta, Angela; Ciapponi, Agustín; Aaserud, Morten; Vietto, Valeria; Austvoll-Dahlgren, Astrid; Kösters, Jan Peter; Vacca, Claudia; Machado, Manuel; Diaz Ayala, Diana Hazbeydy; Oxman, Andrew D

    2014-10-16

    respectively six months after the start of the policy. One study of maximum prices reported a relative change in monthly sales volume of all statins of 21% (95% CI 19% to 24%) after one year of the introduction of this policy. Four studies reported effects on mortality and healthcare utilisation, however they were excluded because of study design limitations. The majority of the studies of pricing and purchasing policies that met our inclusion criteria evaluated reference pricing. We found that internal reference pricing may reduce expenditures in the short term by shifting drug use from cost share drugs to reference drugs. Reference pricing may reduce related expenditures with effects on reference drugs but the effect on expenditures of cost share drugs is uncertain. Reference pricing may increase the use of reference drugs and may reduce the use of cost share drugs. The analysis and reporting of the effects on patients' drug expenditures were limited in the included studies and administration costs were not reported. Reference pricing effects on health are uncertain due to lack of evidence. The effects of other purchasing and pricing policies are until now uncertain due to sparse evidence. However, index pricing may reduce the use of brand drugs, increase the use of generic drugs, and may also slightly reduce the price of the generic drug when compared with no intervention.

  3. Market response to the public display of energy performance rating at property sales

    International Nuclear Information System (INIS)

    Jensen, Ole Michael; Hansen, Anders Rhiger; Kragh, Jesper

    2016-01-01

    Energy labels have generally received positive response from consumers and have moved the market for white goods and cars in the direction of more energy-efficient products. On the real estate market, it was expected that an energy label, rating the energy performance of a property based on a national energy performance certificate (EPC) might receive similar response. However, in Denmark no response to the energy performance rating was observed for 15 years. This was a surprise considering that Denmark was the first country to implement an A to G rating of the energy performance of buildings. A statistical examination of data on property sales prices and energy performance ratings was carried out. All relevant property transaction data from 2007 till 2012 were examined and they showed that energy performance ratings had an impact on property sales prices. However, before June 2010, the impact was modest, whereas after June 2010 the impact of energy performance ratings on property sales prices increased significantly as a result of an EU requirement to display the energy performance rating in connection with property sales. On this background, it was concluded that a public display of the energy performance rating is fundamental for market response. - Highlights: •Energy performance ratings of buildings have an impact on property sales prices. •A statistical examination shows that since 2010 sales prices reflect energy performance. •Mandatory display of the rating prescribed by EU Directive was decisive. •The positive market response will be an incentive for energy upgrading of the property.

  4. The impact of price and tobacco control policies on the demand for electronic nicotine delivery systems.

    Science.gov (United States)

    Huang, Jidong; Tauras, John; Chaloupka, Frank J

    2014-07-01

    While much is known about the demand for conventional cigarettes, little is known about the determinants of demand for electronic nicotine delivery systems (ENDS or e-cigarettes). The goal of this study is to estimate the own and cross-price elasticity of demand for e-cigarettes and to examine the impact of cigarette prices and smoke-free policies on e-cigarette sales. Quarterly e-cigarette prices and sales and conventional cigarette prices from 2009 to 2012 were constructed from commercial retail store scanner data from 52 U.S. markets, for food, drug and mass stores, and from 25 markets, for convenience stores. Fixed-effects models were used to estimate the own and cross-price elasticity of demand for e-cigarettes and associations between e-cigarette sales and cigarette prices and smoke-free policies. Estimated own price elasticities for disposable e-cigarettes centred around -1.2, while those for reusable e-cigarettes were approximately -1.9. Disposable e-cigarette sales were higher in markets where reusable e-cigarette prices were higher and where less of the population was covered by a comprehensive smoke-free policy. There were no consistent and statistically significant relationships between cigarette prices and e-cigarette sales. E-cigarette sales are very responsive to own price changes. Disposable e-cigarettes appear to be substitutes for reusable e-cigarettes. Policies increasing e-cigarette retail prices, such as limiting rebates, discounts and coupons and imposing a tax on e-cigarettes, could potentially lead to significant reductions in e-cigarette sales. Differential tax policies based on product type could lead to substitution between different types of e-cigarettes. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://group.bmj.com/group/rights-licensing/permissions.

  5. 19 CFR 351.410 - Differences in circumstances of sale

    Science.gov (United States)

    2010-04-01

    ... COUNTERVAILING DUTIES Calculation of Export Price, Constructed Export Price, Fair Value, and Normal Value § 351.410 Differences in circumstances of sale (a) Introduction. In calculating normal value the Secretary... on the market value of the merchandise. ...

  6. Pricing and availability intervention in vending machines at four bus garages.

    Science.gov (United States)

    French, Simone A; Hannan, Peter J; Harnack, Lisa J; Mitchell, Nathan R; Toomey, Traci L; Gerlach, Anne

    2010-01-01

    To evaluate the effects of lowering prices and increasing availability on sales of healthy foods and beverages from 33 vending machines in 4 bus garages as part of a multicomponent worksite obesity prevention intervention. Availability of healthy items was increased to 50% and prices were lowered at least 10% in the vending machines in two metropolitan bus garages for an 18-month period. Two control garages offered vending choices at usual availability and prices. Sales data were collected monthly from each of the vending machines at the four garages. Increases in availability to 50% and price reductions of an average of 31% resulted in 10% to 42% higher sales of the healthy items. Employees were mostly price responsive for snack purchases. Greater availability and lower prices on targeted food and beverage items from vending machines was associated with greater purchases of these items over an 18-month period. Efforts to promote healthful food purchases in worksite settings should incorporate these two strategies.

  7. 7 CFR 1220.115 - Net market price.

    Science.gov (United States)

    2010-01-01

    ... AGREEMENTS AND ORDERS; MISCELLANEOUS COMMODITIES), DEPARTMENT OF AGRICULTURE SOYBEAN PROMOTION, RESEARCH, AND CONSUMER INFORMATION Soybean Promotion and Research Order Definitions § 1220.115 Net market price. The term net market price means— (a) except as provided in paragraph (b) of this section, the sales price, or...

  8. Book Trade Research and Statistics. Prices of U.S. and Foreign Published Materials; Book Title Output and Average Prices: 2000 Final and 2001 Preliminary Figures; Book Sales Statistics, 2001: AAP Preliminary Estimates; U.S. Book Exports and Imports: 2001; Number of Book Outlets in the United States and Canada; Review Media Statistics.

    Science.gov (United States)

    Sullivan, Sharon G.; Barr, Catherine; Grabois, Andrew

    2002-01-01

    Includes six articles that report on prices of U.S. and foreign published materials; book title output and average prices; book sales statistics; book exports and imports; book outlets in the U.S. and Canada; and review media statistics. (LRW)

  9. Modelled female sale options demonstrate improved profitability in northern beef herds.

    Science.gov (United States)

    Niethe, G E; Holmes, W E

    2008-12-01

    To examine the impact of improving the average value of cows sold, the risk of decreasing the number weaned, and total sales on the profitability of northern Australian cattle breeding properties. Gather, model and interpret breeder herd performances and production parameters on properties from six beef-producing regions in northern Australia. Production parameters, prices, costs and herd structure were entered into a herd simulation model for six northern Australian breeding properties that spay females to enhance their marketing options. After the data were validated by management, alternative management strategies were modelled using current market prices and most likely herd outcomes. The model predicted a close relationship between the average sale value of cows, the total herd sales and the gross margin/adult equivalent. Keeping breeders out of the herd to fatten generally improves their sale value, and this can be cost-effective, despite the lower number of progeny produced and the subsequent reduction in total herd sales. Furthermore, if the price of culled cows exceeds the price of culled heifers, provided there are sufficient replacement pregnant heifers available to maintain the breeder herd nucleus, substantial gains in profitability can be obtained by decreasing the age at which cows are culled from the herd. Generalised recommendations on improving reproductive performance are not necessarily the most cost-effective strategy to improve breeder herd profitability. Judicious use of simulation models is essential to help develop the best turnoff strategies for females and to improve station profitability.

  10. Fuel oil and kerosene sales 1994

    International Nuclear Information System (INIS)

    1995-01-01

    This publication contains the 1994 survey results of the ''Annual Fuel Oil and Kerosene Sales Report'' (Form EIA-821). This is the sixth year that the survey data have appeared in a separate publication. Prior to the 1989 report, the statistics appeared in the Petroleum Marketing Annual (PMA)for reference year 1988 and the Petroleum Marketing Monthly (PMM) for reference years 1984 through 1987. The 1994 edition marks the 11th annual presentation of the results of the ongoing ''Annual Fuel Oil and Kerosene Sales Report'' survey. Distillate and residual fuel oil sales continued to move in opposite directions during 1994. Distillate sales rose for the third year in a row, due to a growing economy. Residual fuel oil sales, on the other hand, declined for the sixth year in a row, due to competitive natural gas prices, and a warmer heating season than in 1993. Distillate fuel oil sales increased 4.4 percent while residual fuel oil sales declined 1.6 percent. Kerosene sales decreased 1.4 percent in 1994

  11. Coupon advertising under imperfect price information

    NARCIS (Netherlands)

    Moraga-Gonzälez, José Luis; Petrakis, Emmanuel

    1999-01-01

    This paper studies sales promotions through coupons in an oligopoly under imperfect price information. Sellers can distribute either ordinary coupons, or coupon (price) advertising, or both types of coupons, at distant locations to attract consumers from their rivals' markets. A unique symmetric

  12. 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)

  13. Price Formation by Bargaining and Posted Prices

    NARCIS (Netherlands)

    Kultti, K.K.

    1997-01-01

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

  14. Pricing real estate index options under stochastic interest rates

    Science.gov (United States)

    Gong, Pu; Dai, Jun

    2017-08-01

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

  15. Timing of Seasonal Sales.

    OpenAIRE

    Courty, Pascal; Li, Hao

    1999-01-01

    We present a model of timing of seasonal sales where stores choose several designs at the beginning of the season without knowing wich one, if any, will be fashionable. Fashionable designs have a chance to fetch high prices in fashion markets while non-fashionable ones must be sold in a discount market. In the beginning of the season, stores charge high prices in the hope of capturing their fashion market. As the end of the season approaches with goods still on the shelves, stores adjust down...

  16. Jakarta Islamic Index-L 45: Rate Financial Performance, Beta Stocks and Stock Price in Indonesian Stock Exchange

    Directory of Open Access Journals (Sweden)

    Tajus Subqi

    2016-08-01

    Full Text Available This research had analyzed the effect of financial performance and stock beta (systematic risk towards stock price of eight listed companies in Jakarta Islamic Index (JII – LQ 45 for the time period of 2012-2014. The data was gathered by employing literature study and documentation of financial statements. Multiple regressions are used to measure the effect of independent variable towards dependent variable along with ttest and F test. The results based on overall test suggested that only ROE and NPM had opposite direction correlation with the stock price, meanwhile other variables had positive direction correlation. From partial test with 5% level of significance, only EPS and PER had significant effect on stock price while other variables had no effect.   Keywords: financial performance analysis, stock price, stock beta (systematic risk, Jakarta Islamic Index

  17. Forecasting Construction Tender Price Index in Ghana using Autoregressive Integrated Moving Average with Exogenous Variables Model

    Directory of Open Access Journals (Sweden)

    Ernest Kissi

    2018-03-01

    Full Text Available Prices of construction resources keep on fluctuating due to unstable economic situations that have been experienced over the years. Clients knowledge of their financial commitments toward their intended project remains the basis for their final decision. The use of construction tender price index provides a realistic estimate at the early stage of the project. Tender price index (TPI is influenced by various economic factors, hence there are several statistical techniques that have been employed in forecasting. Some of these include regression, time series, vector error correction among others. However, in recent times the integrated modelling approach is gaining popularity due to its ability to give powerful predictive accuracy. Thus, in line with this assumption, the aim of this study is to apply autoregressive integrated moving average with exogenous variables (ARIMAX in modelling TPI. The results showed that ARIMAX model has a better predictive ability than the use of the single approach. The study further confirms the earlier position of previous research of the need to use the integrated model technique in forecasting TPI. This model will assist practitioners to forecast the future values of tender price index. Although the study focuses on the Ghanaian economy, the findings can be broadly applicable to other developing countries which share similar economic characteristics.

  18. The relationship between in-store marketing and observed sales of sustainable products : A shopper marketing view

    NARCIS (Netherlands)

    van Nierop, E.; van Herpen, E.; Sloot, L.M.

    2011-01-01

    To stimulate sales of sustainable products, retailers need to know whether their in-store instruments effectively influence their market shares. This study uses actual sales data and a multilevel modeling approach to describe the market shares of sustainable brands according to price level, price

  19. EVALUATION OF SALES VALUE OF OBJECT TAX ON LAND AND BUILDINGS

    Directory of Open Access Journals (Sweden)

    Titin RULIANA

    2014-06-01

    Full Text Available Tax revenue today become the backbone of the State reception in the State Budget ( Budget . One of the tax revenue is land and building tax . Basis of property tax is the Sales Value of Object Tax. Sales Value of Object Tax is the average price obtained from the market price , and the price is based on the Decree of the Mayor [3]. Determination Sales Value of Object Tax based on Laws number 12 of 1985 amended by Laws number 12 of 1994 [1]. Determination Sales Value of Object Tax based Formulation of the problem in this paper is as follows : "Is it the Sales Value of Object Tax on Land and Building Tax in Year 2012 in accordance with Laws number 12 of year 1994". This research used a sample of fifty one taxpayers from Income Tax Payable in 2012. Target of research is Sales Value of Object Tax on land and building by comparing the Sales Value of Object Tax contained in the Notification Letter of Tax Payable to the actual situation. Based on the background and formulation of the problem, that : "Calculation Sales Value of Object Tax on Land and Building of 2012 in the District Palaran of Samarinda City not in accordance with Law Number 12 of 1994" . I was concluded that the calculation Sales Value of Object Tax on Land and Buildings in the District Palaran been calculated in accordance with Law on number 12 of 1994 . Difference in the amount of Land and Building Tax to be paid based on The Notification Letter of Tax Payable with the results of research in the field due to lack of public understanding about The Land and Building Tax, so that the taxpayer did not immediately report the wide changes to the tax object owned by the Office of Tax services

  20. State forest timber sales in 2006

    International Nuclear Information System (INIS)

    Office National des Forets

    2007-01-01

    For the first time since the 1999 storms, forest owners have experienced a favourable market. The combination of buoyant demand for both industrial round-wood and timber and consolidation of supply led to a significant increase in prices. With a logging volume of 15 million m 3 (standing timber equivalent), state forest timber supply has remained at a high level, slightly above that of 1999. The improved business cycle situation has pushed prices up, including for beech for which rates had stagnated for some time. However, in spite of the 15% rise compared to 2005, the average per cubic metre price sold by the ONF (31.20 euros), all categories of timber and all state forests taken together, remains well below the average for the 1996-1999 period (37.80 euros). While unsold stocks have fallen considerably, the ONF has sought to facilitate access to products by industry by modernising its sales methods in line with the new 2005 legislative and regulatory provisions. Greater flexibility in the rules applicable to privately negotiated spot sales and supply contracts should over time contribute to stabilizing and reducing the accessory costs of supply. The changes implemented over the last decade in favour of private sales, which now account for nearly 40% of volumes sold, should continue in the future. Of those volumes, 20% were sold under supply contracts, a proportion that is rising sharply. These contracts covered more than one million m 3 in 2006, encouraging the ONF to adopt a new sales scheme and establish structures for consultations with both forest municipalities and the downstream component of the industry. (authors)

  1. Technical Note—Delegating Pricing Responsibility to the Salesforce

    OpenAIRE

    Rajiv Lal

    1986-01-01

    In this paper, we use an agency theory framework to address the issue of delegating pricing responsibility to the salesperson. In this analysis, it is shown that delegating the pricing responsibility to the salesperson is as profitable as centralization when the salesperson and the sales manager have identical information about the selling environment; but delegation may be more profitable when the saleperson's information is superior to that of the sales manager's. It is also argued that thi...

  2. Sales impact of displaying alcoholic and non-alcoholic beverages in end-of-aisle locations: an observational study.

    Science.gov (United States)

    Nakamura, Ryota; Pechey, Rachel; Suhrcke, Marc; Jebb, Susan A; Marteau, Theresa M

    2014-05-01

    In-store product placement is perceived to be a factor underpinning impulsive food purchasing but empirical evidence is limited. In this study we present the first in-depth estimate of the effect of end-of-aisle display on sales, focussing on alcohol. Data on store layout and product-level sales during 2010-11 were obtained for one UK grocery store, comprising detailed information on shelf space, price, price promotion and weekly sales volume in three alcohol categories (beer, wine, spirits) and three non-alcohol categories (carbonated drinks, coffee, tea). Multiple regression techniques were used to estimate the effect of end-of-aisle display on sales, controlling for price, price promotion, and the number of display locations for each product. End-of-aisle display increased sales volumes in all three alcohol categories: by 23.2% (p = 0.005) for beer, 33.6% (p sales of alcohol and non-alcoholic beverages. Restricting the use of aisle ends for alcohol and other less healthy products might be a promising option to encourage healthier in-store purchases, without affecting availability or cost of products. Copyright © 2014 The Authors. Published by Elsevier Ltd.. All rights reserved.

  3. Pricing and Availability Intervention in Vending Machines at Four Bus Garages

    Science.gov (United States)

    Hannan, Peter J; Harnack, Lisa J; Mitchell, Nathan R; Toomey, Traci L; Gerlach, Anne

    2009-01-01

    Objective To evaluate the effects of lowering prices and increasing availability on sales of healthy foods and beverages from 33 vending machines in four bus garages as part of a multi-component worksite obesity prevention intervention. Methods Availability of healthy items was increased to 50% and prices were lowered at least 10% in the vending machines in two metropolitan bus garages for an 18-month period. Two control garages offered vending choices at usual availability and prices. Sales data were collected monthly from each of the vending machines at the four garages. Results Increases in availability to 50% and price reductions of an average of 31% resulted in 10-42% higher sales of the healthy items. Employees were most price-responsive for snack purchases. Conclusions Greater availability and lower prices on targeted food and beverage items from vending machines was associated with greater purchases of these items over an eighteen-month period. Efforts to promote healthful food purchases in worksite settings should incorporate these two strategies. PMID:20061884

  4. How can big data enhance the timeliness of official statistics? The case of the US consumer price index

    NARCIS (Netherlands)

    Harchaoui, Tarek M.; Janssen, Robert V.

    2018-01-01

    The daily consumer price index (CPI) produced by the Billion Prices Project (BPP CPI) offers a glimpse of the direction taken by consumer price inflation in real time. This is in contrast to the official U.S. CPI, which is compiled monthly and released with an average of a three-week delay following

  5. Sales of wood from state forests in 2012

    International Nuclear Information System (INIS)

    Office National des Forets

    2013-01-01

    The economic environment in 2012 was adverse, with the consequences of the crisis in sovereign debts in the Euro zone and an 18% decrease in housing starts in France. The drop in sales these conditions entail has in turn led to a 4% decrease in logging volumes from state forests and a 7% decrease in those from community-owned forests. Similarly, the average price has dropped 5%. As a result, the turnover for state forest timber sales has declined by 12%. Consolidated timber supply contracts cover 21% of the volumes and their annual average prices are stable. Finally, stave-wood and fuelwood markets have maintained their vigour. (authors)

  6. Pricing and promotion effects on low-fat vending snack purchases: the CHIPS Study.

    Science.gov (United States)

    French, S A; Jeffery, R W; Story, M; Breitlow, K K; Baxter, J S; Hannan, P; Snyder, M P

    2001-01-01

    OBJECTIVES: This study examined the effects of pricing and promotion strategies on purchases of low-fat snacks from vending machines. METHODS: Low-fat snacks were added to 55 vending machines in a convenience sample of 12 secondary schools and 12 worksites. Four pricing levels (equal price, 10% reduction, 25% reduction, 50% reduction) and 3 promotional conditions (none, low-fat label, low-fat label plus promotional sign) were crossed in a Latin square design. Sales of low-fat vending snacks were measured continuously for the 12-month intervention. RESULTS: Price reductions of 10%, 25%, and 50% on low-fat snacks were associated with significant increases in low-fat snack sales; percentages of low-fat snack sales increased by 9%, 39%, and 93%, respectively. Promotional signage was independently but weakly associated with increases in low-fat snack sales. Average profits per machine were not affected by the vending interventions. CONCLUSIONS: Reducing relative prices on low-fat snacks was effective in promoting lower-fat snack purchases from vending machines in both adult and adolescent populations. PMID:11189801

  7. Estimating price elasticities when there is smuggling: the sensitivity of smoking to price in Canada.

    Science.gov (United States)

    Gruber, Jonathan; Sen, Anindya; Stabile, Mark

    2003-09-01

    A central parameter for evaluating tax policies is the price elasticity of demand for cigarettes. But in many countries this parameter is difficult to estimate reliably due to widespread smuggling, which significantly biases estimates using legal sales data. An excellent example is Canada, where widespread smuggling in the early 1990s, in response to large tax increases, biases upwards the response of legal cigarette sales to price. We surmount this problem through two approaches: excluding the provinces and years where smuggling was greatest; and using household level expenditure data on smoking. These two approaches yield a tightly estimated elasticity in the range of -0.45 to -0.47. We also show that the sensitivity of smoking to price is much larger among lower income Canadians. In the context of recent behavioral models of smoking, whereby higher taxes reduce unwanted smoking among price sensitive populations, this finding suggests that cigarette taxes may not be as regressive as previously suggested. Finally, we show that price increases on cigarettes do not increase, and may actually decrease, consumption of alcohol; as a result, smuggling of cigarettes may have raised consumption of alcohol as well.

  8. A Hierarchical Bayes Error Correction Model to Explain Dynamic Effects of Price Changes

    NARCIS (Netherlands)

    D. Fok (Dennis); R. Paap (Richard); C. Horváth (Csilla); Ph.H.B.F. Franses (Philip Hans)

    2005-01-01

    textabstractThe authors put forward a sales response model to explain the differences in immediate and dynamic effects of promotional prices and regular prices on sales. The model consists of a vector autoregression rewritten in error-correction format which allows to disentangle the immediate

  9. Strong sales growth in 2006: + 21 per cent

    International Nuclear Information System (INIS)

    2007-01-01

    Paris, February 14, 2007 - The Gaz de France group today reported record consolidated sales of euro 27,642 million in 2006, up 21 per cent compared with 2005. Under average weather conditions and comparable accounting methods, sales increased by 24 per cent versus 2005. This growth results primarily from an overall increase in European energy prices notwithstanding the slight decrease in prices towards the end of the year. The group also benefited from an increase in volumes and from the integration of new operations. After a colder first half of the year compared to that of the previous year, the autumn of 2006 was particularly warm. This had a negative impact on sales growth (there was a 12 billion kWh decrease between 2005 and 2006). The sales generated by the group's international activities increased by 33 per cent to a total of euro 10,839 m in 2006 and now account for almost 40 per cent of the group's overall sales. In this context, the group confirmed at the board meeting held on January 23, 2007 that it would reach the targets set for 2006, namely: - Growth in EBITDA above 20 per cent, e.g. in excess of euro 5 billion, - Net income of more than euro 2.2 billion

  10. Strong sales growth in 2006: + 21 per cent

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    Paris, February 14, 2007 - The Gaz de France group today reported record consolidated sales of euro 27,642 million in 2006, up 21 per cent compared with 2005. Under average weather conditions and comparable accounting methods, sales increased by 24 per cent versus 2005. This growth results primarily from an overall increase in European energy prices notwithstanding the slight decrease in prices towards the end of the year. The group also benefited from an increase in volumes and from the integration of new operations. After a colder first half of the year compared to that of the previous year, the autumn of 2006 was particularly warm. This had a negative impact on sales growth (there was a 12 billion kWh decrease between 2005 and 2006). The sales generated by the group's international activities increased by 33 per cent to a total of euro 10,839 m in 2006 and now account for almost 40 per cent of the group's overall sales. In this context, the group confirmed at the board meeting held on January 23, 2007 that it would reach the targets set for 2006, namely: - Growth in EBITDA above 20 per cent, e.g. in excess of euro 5 billion, - Net income of more than euro 2.2 billion.

  11. 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

  12. Retail Marijuana Purchases in Designer and Commercial Markets in New York City: Sales Units, Weights, and Prices per Gram

    Science.gov (United States)

    Sifaneck, Stephen J.; Ream, Geoffrey L.; Johnson, Bruce D.; Dunlap, Eloise

    2007-01-01

    This paper documents the bifurcation of the market for commercial marijuana from the market for designer marijuana in New York City. Commercial marijuana is usually grown outdoors, imported to NYC, and of average quality. By contrast, several strains of designer marijuana are usually grown indoors from specially-bred strains and carefully handled for maximum quality. The mechanisms for selling include street/park sellers, delivery services, private sales, and storefronts. Retail sales units vary from $5 to $50 and more, but the actual weights and price per gram of retail marijuana purchases lacks scientific precision. Ethnographic staff recruited marijuana purchasers who used digital scales to weigh a purposive sample of 99 marijuana purchases. Results indicate clear differences in price per gram between the purchases of commercial (avg. $8.20/gram) and designer (avg. $18.02/gram) marijuana. Designer purchases are more likely to be made by whites, downtown (Lower East Side/Union Square area), via delivery services, and in units of $10 bags, $50 cubes, and eighth and quarter ounces. Commercial marijuana purchases are more likely to be made by blacks, uptown (Harlem), via street dealers, and in units of $5 and $20 bags. Imported commercial types Arizona and Chocolate were only found uptown, while designer brand names describing actual strains like Sour Diesel and White Widow were only found downtown. Findings indicate clear divisions between commercial and designer marijuana markets in New York City. The extent that these differences may be based upon different THC potencies is a matter for future research. PMID:17055670

  13. Pricing index-based catastrophe bonds: Part 2: Object-oriented design issues and sensitivity analysis

    Science.gov (United States)

    Unger, André J. A.

    2010-02-01

    This work is the second installment in a two-part series, and focuses on object-oriented programming methods to implement an augmented-state variable approach to aggregate the PCS index and introduce the Bermudan-style call feature into the proposed CAT bond model. The PCS index is aggregated quarterly using a discrete Asian running-sum formulation. The resulting aggregate PCS index augmented-state variable is used to specify the payoff (principle) on the CAT bond based on reinsurance layers. The purpose of the Bermudan-style call option is to allow the reinsurer to minimize their interest rate risk exposure on making fixed coupon payments under prevailing interest rates. A sensitivity analysis is performed to determine the impact of uncertainty in the frequency and magnitude of hurricanes on the price of the CAT bond. Results indicate that while the CAT bond is highly sensitive to the natural variability in the frequency of landfalling hurricanes between El Ninõ and non-El Ninõ years, it remains relatively insensitive to uncertainty in the magnitude of damages. In addition, results indicate that the maximum price of the CAT bond is insensitive to whether it is engineered to cover low frequency high magnitude events in a 'high' reinsurance layer relative to high frequency low magnitude events in a 'low' reinsurance layer. Also, while it is possible for the reinsurer to minimize their interest rate risk exposure on the fixed coupon payments, the impact of this risk on the price of the CAT bond appears small relative to the natural variability in the CAT bond price, and consequently catastrophic risk, due to uncertainty in the frequency and magnitude of landfalling hurricanes.

  14. Internet cigarette sales and Native American sovereignty: political and public health contexts.

    Science.gov (United States)

    Samuel, Kari A; Ribisl, Kurt M; Williams, Rebecca S

    2012-05-01

    Internet cigarette vendors (ICVs) advertise low prices for tobacco products, subverting public health policy efforts to curtail smoking by raising prices. Many online retailers in the United States claim affiliation with Native American tribes and share in tribal tax-free status. Sales of discounted cigarettes from both online vendors and brick-and-mortar stores have angered non-Native retailers and triggered enforcement actions by state and federal governments in the United States concerned over lost cigarette excise tax revenue. Examination of the history and politics of cigarette sales on reservations and attempts to regulate Internet cigarette sales highlights the potential role for greater use of negotiated intergovernmental agreements to address reservation-based tobacco sales. Our review notes global parallels and explicates history and politics of such regulation in the United States, and offers background for collaborative efforts to regulate tobacco sales and decrease tobacco use.

  15. Assessing the perception and reality of arguments against thermal waste treatment plants in terms of property prices

    International Nuclear Information System (INIS)

    Phillips, K.J.O.; Longhurst, P.J.; Wagland, S.T.

    2014-01-01

    Highlights: • Previous research studies have shown that EfW facilities negatively impact the local house prices. • In this study property prices surrounding 3 operational EfW plants were analysed. • No significant negative effect on property prices due to an incinerator was found. - Abstract: The thermal processing of waste materials, although considered to be an essential part of waste management, is often sharply contested in the UK. Arguments such as health, depletion of resources, cost, noise, odours, traffic movement and house prices are often cited as reasons against the development of such facilities. This study aims to review the arguments and identify any effect on property prices due to the public perception of the plant. A selection of existing energy from waste (EfW) facilities in the UK, operational for at least 7 years, was selected and property sales data, within 5 km of the sites, was acquired and analysed in detail. The locations of the properties were calculated in relation to the plant using GIS software (ArcGIS) and the distances split into 5 zones ranging from 0 to 5 km from the site. The local property sale prices, normalised against the local house price index, were compared in two time periods, before and after the facility became operational, across each of the 5 zones. In all cases analysed no significant negative effect was observed on property prices at any distance within 5 km from a modern operational incinerator. This indicated that the perceived negative effect of the thermal processing of waste on local property values is negligible

  16. Assessing the perception and reality of arguments against thermal waste treatment plants in terms of property prices

    Energy Technology Data Exchange (ETDEWEB)

    Phillips, K.J.O.; Longhurst, P.J.; Wagland, S.T., E-mail: s.t.wagland@cranfield.ac.uk

    2014-01-15

    Highlights: • Previous research studies have shown that EfW facilities negatively impact the local house prices. • In this study property prices surrounding 3 operational EfW plants were analysed. • No significant negative effect on property prices due to an incinerator was found. - Abstract: The thermal processing of waste materials, although considered to be an essential part of waste management, is often sharply contested in the UK. Arguments such as health, depletion of resources, cost, noise, odours, traffic movement and house prices are often cited as reasons against the development of such facilities. This study aims to review the arguments and identify any effect on property prices due to the public perception of the plant. A selection of existing energy from waste (EfW) facilities in the UK, operational for at least 7 years, was selected and property sales data, within 5 km of the sites, was acquired and analysed in detail. The locations of the properties were calculated in relation to the plant using GIS software (ArcGIS) and the distances split into 5 zones ranging from 0 to 5 km from the site. The local property sale prices, normalised against the local house price index, were compared in two time periods, before and after the facility became operational, across each of the 5 zones. In all cases analysed no significant negative effect was observed on property prices at any distance within 5 km from a modern operational incinerator. This indicated that the perceived negative effect of the thermal processing of waste on local property values is negligible.

  17. Mind your pricing cues.

    Science.gov (United States)

    Anderson, Eric; Simester, Duncan

    2003-09-01

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

  18. Pricing and the psychology of consumption.

    Science.gov (United States)

    Gourville, John; Soman, Dilip

    2002-09-01

    Most executives know how pricing influences the demand for a product, but few of them realize how it affects the consumption of a product. In fact, most companies don't even believe they can have an effect on whether customers use products they have already paid for. In this article, the authors argue that the relationship between pricing and consumption lies at the core of customer strategy. The extent to which a customer uses a product during a certain time period often determines whether he or she will buy the product again. So pricing tactics that encourage people to use the products they've paid for help companies build long-term relationships with customers. The link between pricing and consumption is clear: People are more likely to consume a product when they are aware of its cost. But for many executives, the idea that they should draw consumers' attention to the price that was paid for a product or service is counterintuitive. Companies have long sought to mask the costs of their goods and services in order to boost sales. And rightly so--if a company fails to make the initial sale, it won't have to worry about consumption. So to promote sales, health club managers encourage members to get the payment out of the way early; HMOs encourage automatic payroll deductions; and cruise lines bundle small, specific costs into a single, all-inclusive fee. The problem is, by masking how much a buyer has spent on a given product, these pricing tactics decrease the likelihood that the buyer will actually use it. This article offers some new approaches to pricing--how and when to charge for goods and services--that may boost consumption.

  19. House price risk and the hedging benefits of home Ownership

    NARCIS (Netherlands)

    Dröes, M.I.; Hassink, W.H.J.

    2013-01-01

    Using a repeat-sales methodology, this paper finds that estimates of house price risk based on aggregate house price indices substantially underestimate the true size of house price risk. This is the result of the fact that aggregate house price indices average away the idiosyncratic volatility in

  20. Book Trade Research and Statistics. Prices of U.S. and Foreign Published Materials; Book Title Output and Average Prices: 2001 Final and 2002 Preliminary Figures; Book Sales Statistics, 2002: AAP Preliminary Estimates; U.S. Book Exports and Imports:2002; Number of Book Outlets in the United States and Canada; Review Media Statistics.

    Science.gov (United States)

    Sullivan, Sharon G.; Grabois, Andrew; Greco, Albert N.

    2003-01-01

    Includes six reports related to book trade statistics, including prices of U.S. and foreign materials; book title output and average prices; book sales statistics; book exports and imports; book outlets in the U.S. and Canada; and numbers of books and other media reviewed by major reviewing publications. (LRW)

  1. Suboptimality of Sales Promotions and Improvement Through Channel Coordination

    NARCIS (Netherlands)

    B. Wierenga (Berend); H. Soethoudt (Han)

    2002-01-01

    textabstractThis paper deals with sales promotions in the form of consumer price discounts in fast-moving consumer goods. First, we show analytically that suboptimality is to be expected with respect to the size of the consumer price discount. This is due to the separate decision making of the

  2. Optimal Pricing Strategy for New Products

    OpenAIRE

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

    1999-01-01

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

  3. Pricing Options and Equity-Indexed Annuities in a Regime-switching Model by Trinomial Tree Method

    Directory of Open Access Journals (Sweden)

    Fei Lung Yuen

    2011-12-01

    Full Text Available In this paper we summarize the main idea and results of Yuen and Yang (2009, 2010a, 2010b and provide some results on pricing of Parisian options under the Markov regime-switching model (MRSM. The MRSM allows the parameters of the market model depending on a Markovian process, and the model can reflect the information of the market environment which cannot be modeled solely by linear Gaussian process. However, when the parameters of the stock price model are not constant but governed by a Markovian process, the pricing of the options becomes complex. We present a fast and simple trinomial tree model to price options in MRSM. In recent years, the pricing of modern insurance products, such as Equity-Indexed annuity (EIA and variable annuities (VAs, has become a popular topic. We show here that our trinomial tree model can been used to price EIA with strong path dependent exotic options in the regime switching model.

  4. 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.

  5. Determining the best forecasting method to estimate unitary charges price indexes of PFI data in central region Peninsular Malaysia

    Science.gov (United States)

    Ahmad Kamaruddin, Saadi Bin; Md Ghani, Nor Azura; Mohamed Ramli, Norazan

    2013-04-01

    The concept of Private Financial Initiative (PFI) has been implemented by many developed countries as an innovative way for the governments to improve future public service delivery and infrastructure procurement. However, the idea is just about to germinate in Malaysia and its success is still vague. The major phase that needs to be given main attention in this agenda is value for money whereby optimum efficiency and effectiveness of each expense is attained. Therefore, at the early stage of this study, estimating unitary charges or materials price indexes in each region in Malaysia was the key objective. This particular study aims to discover the best forecasting method to estimate unitary charges price indexes in construction industry by different regions in the central region of Peninsular Malaysia (Selangor, Federal Territory of Kuala Lumpur, Negeri Sembilan, and Melaka). The unitary charges indexes data used were from year 2002 to 2011 monthly data of different states in the central region Peninsular Malaysia, comprising price indexes of aggregate, sand, steel reinforcement, ready mix concrete, bricks and partition, roof material, floor and wall finishes, ceiling, plumbing materials, sanitary fittings, paint, glass, steel and metal sections, timber and plywood. At the end of the study, it was found that Backpropagation Neural Network with linear transfer function produced the most accurate and reliable results for estimating unitary charges price indexes in every states in central region Peninsular Malaysia based on the Root Mean Squared Errors, where the values for both estimation and evaluation sets were approximately zero and highly significant at p Malaysia. The estimated price indexes of construction materials will contribute significantly to the value for money of PFI as well as towards Malaysian economical growth.

  6. Buying food on sale: a mixed methods study with shoppers at an urban supermarket, Philadelphia, Pennsylvania, 2010-2012.

    Science.gov (United States)

    Phipps, Etienne J; Kumanyika, Shiriki K; Stites, Shana D; Singletary, S Brook; Cooblall, Clarissa; DiSantis, Katherine Isselmann

    2014-09-04

    The obesity epidemic has drawn attention to food marketing practices that may increase the likelihood of caloric overconsumption and weight gain. We explored the associations of discounted prices on supermarket purchases of selected high-calorie foods (HCF) and more healthful, low-calorie foods (LCF) by a demographic group at high risk of obesity. Our mixed methods design used electronic supermarket purchase data from 82 low-income (primarily African American female) shoppers for households with children and qualitative data from focus groups with demographically similar shoppers. In analyses of 6,493 food purchase transactions over 65 weeks, the odds of buying foods on sale versus at full price were higher for grain-based snacks, sweet snacks, and sugar-sweetened beverages (odds ratios: 6.6, 5.9, and 2.6, respectively; all P snacks. The odds of buying foods on sale versus full price were not higher for any of any of the LCF (P ≥ .07). Without controlling for quantities purchased, we found that spending increased as percentage saved from the full price increased for all HCF and for fruits and vegetables (P ≤ .002). Focus group participants emphasized the lure of sale items and took advantage of sales to stock up. Strategies that shift supermarket sales promotions from price reductions for HCF to price reductions for LCF might help prevent obesity by decreasing purchases of HCF.

  7. 75 FR 11517 - Certain Magnesia Carbon Bricks from Mexico: Notice of Preliminary Determination of Sales at Less...

    Science.gov (United States)

    2010-03-11

    ... December 11, 2009, the petitioner alleged that Refmex made comparison-market sales of bricks at prices... initiated an investigation to determine whether Refmex made comparison-market sales of bricks at prices... (for example, antioxidants can be added to the mix from trace amounts to 15 percent by weight as...

  8. 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.

  9. Price Determinants of the Tendering Process for Pharmaceuticals in the Cyprus Market.

    Science.gov (United States)

    Petrou, Panagiotis; Talias, Michael A

    2015-09-01

    Tendering has been a promising approach for procuring pharmaceuticals. Significant price reductions have been well documented by several authors. To our knowledge, there are limited data detailing the impact of variables in the tendering process. In this article, our objective was to evaluate the impact of potentially exploratory variables, which included innovation status, total value and volume of sales of each product, health care setting administration (hospital/outpatient), patent status (branded/generic), tendering type, and wholesale price, on price reduction in the tendering process. Financial data of public sector sales during 2011 were analyzed. On the basis of these data, we selected 178 medicines with corresponding sales of €49 million, out of a total market value of €104 million. Medicines were selected according to volume, value, and therapeutic value across all therapeutic areas. We performed a beta regression for the assessment of impact of variables and applied the same methodology to different subgroups. The generic status of medicines is statistically significantly associated with a higher price reduction. Tendering type by alternative, high wholesale prices, and high volume are robust estimators for price reduction. Innovation status does not have any effect on price reduction. Outpatient medicines reach lower prices as compared with hospital medicines. A rather unexpected finding is the negative correlation of high sales value with price reduction. These findings will lead to better understanding of the tendering framework, enabling us to further evolve its operational capacity, aiming to generate more savings. Moreover, our study indicates areas in which a more optimized approach is needed. Copyright © 2015 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

  10. 7 CFR 1955.124 - Sale with inventory real estate (chattel).

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 14 2010-01-01 2009-01-01 true Sale with inventory real estate (chattel). 1955.124... Property Chattel Property § 1955.124 Sale with inventory real estate (chattel). Inventory chattel property may be sold with inventory real estate if a higher aggregate price can be obtained. Proceeds from a...

  11. EFFECT OF SALES PROMOTION SCHEMES ON PURCHASE QUANTITY: A STUDY OF MALAYSIAN CONSUMERS

    Directory of Open Access Journals (Sweden)

    Hawa JALLOW

    2016-11-01

    Full Text Available The research aims to study the effect of sales promotion on the purchase quantity and recommend sales promotional means and methods that could improve sales for retail sector in Malaysia. The impact of coupons, bonus packages, premiums, free samples and price discount is measured on purchase quantity of Malaysian retail consumers. Empirical data is gathered from 150 respondents using self-administered questionnaire and analyzed using correlation and regression analysis to examine the relationship between variables. The findings of the study reveal that all independent variables influences purchase quantity positively and significantly while free samples and price discounts are most influential factors for Malaysian market.

  12. A Partially Observed Markov Decision Process for Dynamic Pricing

    OpenAIRE

    Yossi Aviv; Amit Pazgal

    2005-01-01

    In this paper, we develop a stylized partially observed Markov decision process (POMDP) framework to study a dynamic pricing problem faced by sellers of fashion-like goods. We consider a retailer that plans to sell a given stock of items during a finite sales season. The objective of the retailer is to dynamically price the product in a way that maximizes expected revenues. Our model brings together various types of uncertainties about the demand, some of which are resolvable through sales ob...

  13. Demographic and financial characteristics of school districts with low and high à la Carte sales in rural Kansas Public Schools.

    Science.gov (United States)

    Nollen, Nicole L; Kimminau, Kim S; Nazir, Niaman

    2011-06-01

    Reducing à la carte items in schools-foods and beverages sold outside the reimbursable meals program-can have important implications for childhood obesity. However, schools are reluctant to reduce à la carte offerings because of the impact these changes could have on revenue. Some foodservice programs operate with limited à la carte sales, but little is known about these programs. This secondary data analysis compared rural and urban/suburban school districts with low and high à la carte sales. Foodservice financial records (2007-2008) were obtained from the Kansas State Department of Education for all public K-12 school districts (n=302). χ² and t tests were used to examine the independent association of variables to à la carte sales. A multivariate model was then constructed of the factors most strongly associated with low à la carte sales. In rural districts with low à la carte sales, lunch prices and participation were higher, lunch costs and à la carte quality were lower, and fewer free/reduced price lunches were served compared to rural districts with high à la carte sales. Lunch price (odds ratio=1.2; 95% confidence interval, 1.1 to 1.4) and free/reduced price lunch participation (odds ratio=3.0; 95% confidence interval, 1.0 to 9.8) remained in the multivariate model predicting low à la carte sales. No differences were found between urban/suburban districts with low and high à la carte sales. Findings highlight important factors to maintaining low à la carte sales. Schools should consider raising lunch prices and increasing meal participation rates as two potential strategies for reducing the sale of à la carte items without compromising foodservice revenue. Copyright © 2011 American Dietetic Association. Published by Elsevier Inc. All rights reserved.

  14. 7 CFR 767.153 - Sale of real estate inventory property.

    Science.gov (United States)

    2010-01-01

    ....153 Sale of real estate inventory property. (a) Pricing. (1) The Agency will advertise property for sale at its market value, as established by an appraisal obtained in accordance with § 761.7. (2... prorated between the Agency and the purchaser based on the date the Agency conveys title to the purchaser...

  15. Price competition and equilibrium analysis in multiple hybrid channel supply chain

    Science.gov (United States)

    Kuang, Guihua; Wang, Aihu; Sha, Jin

    2017-06-01

    The amazing boom of Internet and logistics industry prompts more and more enterprises to sell commodity through multiple channels. Such market conditions make the participants of multiple hybrid channel supply chain compete each other in traditional and direct channel at the same time. This paper builds a two-echelon supply chain model with a single manufacturer and a single retailer who both can choose different channel or channel combination for their own sales, then, discusses the price competition and calculates the equilibrium price under different sales channel selection combinations. Our analysis shows that no matter the manufacturer and retailer choose same or different channel price to compete, the equilibrium price does not necessarily exist the equilibrium price in the multiple hybrid channel supply chain and wholesale price change is not always able to coordinate supply chain completely. We also present the sufficient and necessary conditions for the existence of equilibrium price and coordination wholesale price.

  16. 19 CFR 351.403 - Sales used in calculating normal value; transactions between affiliated parties.

    Science.gov (United States)

    2010-04-01

    ..., Constructed Export Price, Fair Value, and Normal Value § 351.403 Sales used in calculating normal value... 19 Customs Duties 3 2010-04-01 2010-04-01 false Sales used in calculating normal value... offers for sale in determining normal value. Additionally, this section clarifies the authority of the...

  17. A qualitative and quantitative analysis of vegetable pricing in supermarket

    Science.gov (United States)

    Miranda, Suci

    2017-06-01

    The purpose of this study is to analyze the variables affecting the determination of the sale price of vegetable which is constant over time in a supermarket qualitatively and quantitavely. It focuses on the non-organic vegetable with a fixed selling price over time such as spinach, beet, and parsley. In qualitative analysis, the sale price determination is influenced by the vegetable characteristics: (1) vegetable segmentation (low to high daily consumed); (2) vegetable age (how long it can last related to freshness); which both characteristic relates to the inventory management and ultimately to the sale price in supermarket. While quantitatively, the vegetables are divided into two categories: the leaf vegetable group that the leaves are eaten as a vegetable with the aging product (a) = 0 and the shelf life (t) = 0, and the non-leafy vegetable group with the aging group (a) = a+1 and the shelf life (t) = t+1. The vegetable age (a) = 0 means they only last for one day when they are ordered then they have to terminate. Whereas a+1 is that they have a longer life for more than a day such as beet, white radish, and string beans. The shelf life refers to how long it will be placed in a shelf in supermarket in line with the vegetable age. According to the cost plus pricing method using full price costing approach, production costs, non-production costs, and markup are adjusted differently for each category. There is a holding cost added to the sale price of the non-leafy vegetable, yet it is assumed a 0 holding cost for the leafy vegetable category. The amount of expected margin of each category is correlated to the vegetable characteristics.

  18. International positioning of South African electricity prices and commodity differentiated pricing

    Directory of Open Access Journals (Sweden)

    George A. Thopila

    2013-07-01

    Full Text Available The South African electricity industry has seen a dramatic increase in prices over the past 3 years. This increase has been blanketed across all sectors and is based on a number of factors such as sector, usage and, in the case of domestic pricing, suburb. The cost of electricity in South Africa, particularly to the industrial sector, has been among the lowest in the world. In this paper, we analyse the recent price increases in the South African electricity sector and discuss the price determination mechanism employed by Eskom, South Africa's electricity provider. We also analyse the revenue and sales of Eskom and review the electricity price from an international perspective. The concept of differential pricing and international benchmarking is analysed as a possibility for the South African industrial electricity industry, so that all sectors are not adversely affected by across-the-board increases. Our aim is to raise the question of whether South Africa's electricity prices are in line with international increases and to suggest the possibility of differentiated prices in the local electricity sector.

  19. Estimating the common trend rate of inflation for consumer prices and consumer prices excluding food and energy prices

    OpenAIRE

    Michael T. Kiley

    2008-01-01

    I examine the common trend in inflation for consumer prices and consumer prices excluding prices of food and energy. Both the personal consumption expenditure (PCE) indexes and the consumer price indexes (CPI) are examined. The statistical model employed is a bivariate integrated moving average process; this model extends a univariate model that fits the data on inflation very well. The bivariate model forecasts as well as the univariate models. The results suggest that the relationship betwe...

  20. DIRECT SALES IN THE CONTEXT OF ROMANIA'S UE INTEGRATION

    Directory of Open Access Journals (Sweden)

    Gherman Cristina

    2010-12-01

    Full Text Available More recently, direct sales business is stimulated by the difficult market conditions. While retailers hardly bear fixed costs such as rent, administrative costs and tend to raise prices, customers fall back to products offered by direct sale. In addition, labour market conditions made more and more Romanians (who were left without incomes to move towards this system. On the other hand, the direct sales field doesnt concern only those who remained without a job, but rather those who want to round their incomes.

  1. Estimating light-vehicle sales in Turkey

    Directory of Open Access Journals (Sweden)

    Ufuk Demiroğlu

    2016-09-01

    Full Text Available This paper is motivated by the surprising rapid growth of new light-vehicle sales in Turkey in 2015. Domestic sales grew 25%, dramatically surpassing the industry estimates of around 8%. Our approach is to inform the sales trend estimate with the information obtained from the light-vehicle stock (the number of cars and light trucks officially registered in the country, and the scrappage data. More specifically, we improve the sales trend estimate by estimating the trend of its stock. Using household data, we show that an important reason for the rapid sales growth is that an increasing share of household budgets is spent on automobile purchases. The elasticity of light-vehicle sales to cyclical changes in aggregate demand is high and robust; its estimates are around 6 with a standard deviation of about 0.5. The price elasticity of light-vehicle sales is estimated to be about 0.8, but the estimates are imprecise and not robust. We estimate the trend level of light-vehicle sales to be roughly 7 percent of the existing stock. A remarkable out-of-sample forecast performance is obtained for horizons up to nearly a decade by a regression equation using only a cyclical gap measure, the time trend and obvious policy dummies. Various specifications suggest that the strong 2015 growth of light-vehicle sales was predictable in late 2014.

  2. Impacts of Retailers’ Pricing Strategies for Produce Commodities on Farmer Welfare

    OpenAIRE

    Li, Chenguang; Sexton, Richard J.

    2009-01-01

    The typical model of retail pricing for produce products assumes retailers set price equal to the farm price plus a certain markup. However, observations from scanner data indicate a large degree of price dispersion in the grocery retailing market. In addition to markup pricing behavior, we document three alternative leading pricing patterns: fixed (constant) pricing, periodic sale, and high-low pricing. Retail price variations under these alternative pricing regimes in general have little co...

  3. [The effect of increasing tobacco tax on tobacco sales in Japan].

    Science.gov (United States)

    Ito, Yuri; Nakamura, Masakazu

    2013-09-01

    Since the special tobacco tax was established in 1998, the tobacco tax and price of tobacco have increased thrice, in 2003, 2006, and 2010, respectively. We evaluated the effect of increases in tax on the consumption and sales of tobacco in Japan using the annual data on the number of tobacco products sold and the total sales from Japan Tobacco, Inc. We applied the number of tobacco products sold and the total sales per year to a joinpoint regression model to examine the trends in the data. This model could help identify the year in which a decrease or increase was apparent from the data. In addition, we examined the effect of each tax increase while also considering other factors that may have caused a decrease in the levels of tobacco consumption using the method proposed by Hirano et al. According to the joinpoint regression analysis, the number of tobacco products sold started decreasing in 1998, and the trends of decrease accelerated to 5% per year, from 2005. Owing to the tax increase, tobacco sales reduced by -2.4%, -2.9%, and -10.1% (corrected for the effect of the Tohoku Great Earthquake), and price elasticity was estimated as -0.30, -0.27, and -0.28 (corrected) in 2003, 2006, and 2010, respectively. The effect of tobacco tax increase on the decrease in tobacco sales was greatest in 2010, while the price elasticity remained almost the same as it was during the previous tax increase. The sharp hike in tobacco tax in 2010 decreased the number of tobacco products sold, while the price elasticity in 2010 was similar to that in 2003 and 2006. Our findings suggest that further increase in tobacco tax is needed to reduce the damage caused by smoking in the people of Japan.

  4. The double jeopardy of sales promotions.

    Science.gov (United States)

    Jones, J P

    1990-01-01

    The maturing of most consumer markets in the United States has put great pressure on manufacturers in their search for growth. They have concentrated on building sales and expanding share proportions in the stagnant markets with devices like niche products, product extensions, mergers, and international ventures. They have shifted emphasis to sales promotions at the expense of advertising. But promotions, when you come right down to it, mean price reductions. Trade promotions are almost always rebates, and consumer promotions are usually temporary price reductions or coupons. The cost in reduced profit, demonstrated mathematically through calculations of price elasticity, is severe. Besides, when the promotion is over, the manufacturer has not moved forward an inch in shoring up the brand franchise. Promotions bring volatile demand, whereas the producer seeks stable demand. By sustaining a brand image and building customer loyalty, on the other hand, theme advertising can stabilize demand. Moreover, this type of advertising is less likely than promotion is to invite destructive competitive retaliation. Calculation of the advertising elasticity of a brand indicates that sometimes even modest sales increases can produce healthy profit improvement. In a well-planned marketing campaign, there is often good reason to include trade or consumer promotion--to counter a leading competitor's moves, for example. But there is no point in carrying out wild swings at rivals in a struggle for market share. Mathematical techniques can aid the efficiency of marketing planning and put on a more rational basis the decision on where to put the dollars.

  5. 78 FR 2280 - Federal Housing Administration (FHA) First Look Sales Method Under the Neighborhood Stabilization...

    Science.gov (United States)

    2013-01-10

    ... Administration (FHA) First Look Sales Method Under the Neighborhood Stabilization Program (NSP): Increased... and sales commission. This notice announces an increase in the discount to 15 percent for properties.... This Notice--Increased Discount on Sales Price for Certain REO Properties Purchased Under the FHA First...

  6. A Dynamic Pricing Model for Coordinated Sales and Operations

    NARCIS (Netherlands)

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

    2005-01-01

    textabstractRecent years have seen advances in research and management practice in the area of pricing, and particularly in dynamic pricing and revenue management. At the same time, researchers and managers have made dramatic improvements in operations and supply chain management. The interactions

  7. Minnesota's tax-forfeited land: some trends in acreages, sales, and prices.

    Science.gov (United States)

    David C. Lothner; Edwin Kallio; David T. Davis

    1978-01-01

    The area of tax-forfeited land that is county-administered in Minnesota is currently estimated at almost 2.9 million acres--a decrease of about 17% since the mid-1960's. This decrease is the result of a change in land sales, land forfeitures, and other land transfers. Not only have land sales decreased since the early 1960's, but also less land has been...

  8. The Effect of Consumer Expectation Index, Economic Condition Index and Crude Oil Price on Indonesian Government Bond Yield

    Directory of Open Access Journals (Sweden)

    Benny Budiawan Tjandrasa

    2017-06-01

    Full Text Available Governments sell bonds to finance their budget. The investors willing to buy government bonds because of the yield they will get, but on the other hand if government bond yields is  too high it would burden the state in paying the interest due. Various studies have been done to find the variables that affect government bond yield significantly, such as exchange rate, inflation rate, interest rate, and oil price. This study found two more variables namely consumer expectations index and the economic conditions index to complement the variables that have been discovered. Those two variables are used as a proxy of economic stability of a country, the increase of those variables represent the increase of economic stability and will reduce the level of risk and lowering the yield that investors demand. This research use descriptive method and explanatory study with secondary data using multivariate regression equation model. The results shown consumer expectation index and economic condition index have significant effect on Indonesian Government Bond yield. To keep consumer expectation index and economic condition index increase government should give a positive signal and a sense of security to investor.

  9. Emergency-Dependent Supply Decisions with Risk Perception and Price Control

    Directory of Open Access Journals (Sweden)

    Shaofu Du

    2014-01-01

    Full Text Available This paper studies the impact of emergencies on the supplier’s decision-making behaviors including production and information sharing in consideration of consumer risk perception, consumer loss aversion phenomenon, and government price control. The intensity of emergencies is sequential and emergencies can be divided into two types (positive or negative according to their effect on demand. When emergencies have negative effect on demand, the supplier’s sales will reduce and he would share information to the market. When emergencies have positive effect on demand, we find that when the price is under price cap the supplier will not share information to the market; when the price reaches price cap, the supplier will share a certain amount of information to the market. We were surprised to find that increasing demand is not always good for the supplier when there exist government price control and lost sales penalty, and information helps the supplier to effectively manipulate demand.

  10. Rationally inattentive seller: sales and discrete pricing

    Czech Academy of Sciences Publication Activity Database

    Matějka, Filip

    2016-01-01

    Roč. 83, č. 3 (2016), s. 1125-1155 ISSN 0034-6527 Institutional support: PRVOUK-P23 Keywords : rational inattention * nominal rigidity * sticky prices Subject RIV: AH - Economics Impact factor: 4.030, year: 2016

  11. A Composite Contract for Coordinating a Supply Chain with Price and Effort Dependent Stochastic Demand

    Directory of Open Access Journals (Sweden)

    Yu-Shuang Liu

    2016-01-01

    Full Text Available As the demand is more sensitive to price and sales effort, this paper investigates the issue of channel coordination for a supply chain with one manufacturer and one retailer facing price and effort dependent stochastic demand. A composite contract based on the quantity-restricted returns and target sales rebate can achieve coordination in this setting. Two main problems are addressed: (1 how to coordinate the decentralized supply chain; (2 how to determine the optimal sales effort level, pricing, and inventory decisions under the additive demand case. Numerical examples are presented to verify the effectiveness of combined contract in supply chain coordination and highlight model sensitivities to parametric changes.

  12. Variation in cannabis potency and prices in a newly legal market: evidence from 30 million cannabis sales in Washington state.

    Science.gov (United States)

    Smart, Rosanna; Caulkins, Jonathan P; Kilmer, Beau; Davenport, Steven; Midgette, Greg

    2017-12-01

    To (1) assess trends and variation in the market share of product types and potency sold in a legal cannabis retail market and (2) estimate how potency and purchase quantity influence price variation for cannabis flower. Secondary analysis of publicly available data from Washington State's cannabis traceability system spanning 7 July 2014 to 30 September 2016. Descriptive statistics and linear regressions assessed variation and trends in cannabis product variety and potency. Hedonic regressions estimated how purchase quantity and potency influence cannabis flower price variation. Washington State, USA. (1) A total of 44 482 176 million cannabis purchases, including (2) 31 052 123 cannabis flower purchases after trimming price and quantity outliers. Primary outcome measures were (1) monthly expenditures on cannabis, total delta-9-tetrahydrocannabinol (THC) concentration and cannabidiol (CBD) concentration by product type and (2) excise tax-inclusive price per gram of cannabis flower. Key covariates for the hedonic price regressions included quantity purchased, THC and CBD. Traditional cannabis flowers still account for the majority of spending (66.6%), but the market share of extracts for inhalation increased by 145.8% between October 2014 and September 2016, now comprising 21.2% of sales. The average THC-level for cannabis extracts is more than triple that for cannabis flowers (68.7% compared to 20.6%). For flower products, there is a statistically significant relationship between price per gram and both THC [coefficient = 0.012; 95% confidence interval (CI) = 0.011-0.013] and CBD (coefficient = 0.017; CI = 0.015-0.019). The estimated discount elasticity is -0.06 (CI = -0.07 to -0.05). In the state of Washington, USA, the legal cannabis market is currently dominated by high-THC cannabis flower, and features growing expenditures on extracts. For cannabis flower, both THC and CBD are associated with higher per-gram prices, and there are small but

  13. 26 CFR 48.4061(a)-5 - Sale of automobile truck bodies and chassis.

    Science.gov (United States)

    2010-04-01

    ... selling price of the entire vehicle unless adequate records are available to show the portion of the total selling price attributable to the body. (b) Cross references. For special rules relating to the sale of a...

  14. Coordinating Channels Under Price and Nonprice Competition

    OpenAIRE

    Ganesh Iyer

    1998-01-01

    This paper analyzes how manufacturers should coordinate distribution channels when retailers compete in price as well as important nonprice factors such as the provision of product information, free repair, faster check-out, or after-sales service. Differentiation among retailers in price and nonprice service factors is a central feature of markets ranging from automobiles and appliances to gasoline and is especially observed in the coexistence of high-service retailers and lower price discou...

  15. Entropy correlation distance method. The Euro introduction effect on the Consumer Price Index

    Science.gov (United States)

    Miśkiewicz, Janusz

    2010-04-01

    The idea of entropy was introduced in thermodynamics, but it can be used in time series analysis. There are various ways to define and measure the entropy of a system. Here the so called Theil index, which is often used in economy and finance, is applied as it were an entropy measure. In this study the time series are remapped through the Theil index. Then the linear correlation coefficient between the remapped time series is evaluated as a function of time and time window size and the corresponding statistical distance is defined. The results are compared with the the usual correlation distance measure for the time series themselves. As an example this entropy correlation distance method (ECDM) is applied to several series, as those of the Consumer Price Index (CPI) in order to test some so called globalisation processes. Distance matrices are calculated in order to construct two network structures which are next analysed. The role of two different time scales introduced by the Theil index and a correlation coefficient is also discussed. The evolution of the mean distance between the most developed countries is presented and the globalisation periods of the prices discussed. It is finally shown that the evolution of mean distance between the most developed countries on several networks follows the process of introducing the European currency - the Euro. It is contrasted to the GDP based analysis. It is stressed that the entropy correlation distance measure is more suitable in detecting significant changes, like a globalisation process than the usual statistical (correlation based) measure.

  16. Hospital treatment as a foal does not adversely affect future sales performance in Thoroughbred horses.

    Science.gov (United States)

    Corley, K T T; Corley, M M B

    2012-02-01

    Many Thoroughbred foals are intended to be sold at public auction. The impact of disease conditions necessitating hospital treatment as a foal on future sales performance is unknown. To determine whether Thoroughbred horses that were treated in a hospital before age 125 days and presented to public auction sell for a different mean price than controls. Foals aged horses that were presented to the same sale immediately before and immediately after the subject. Results were controlled for the sale at which the animal presented and the sex of the subject and controls. Sixty-three subjects were presented to public auction: 19 at the foal sales, 39 at the yearling sales and 5 at the 2-year-old sales. Forty-five subjects were sold. There was no difference in the mean sales price (subjects Euros 38,207; controls Euros 35,026) or percentage of animals sold (subjects 71.4%; controls 66.4%) between subjects and controls. If Thoroughbred horses are presented for public auction following hospital treatment as a foal, there is no impact on sales outcome. This information may help commercial breeders of Thoroughbred foals make informed decisions about treatment of their foals.

  17. The distinct economic effects of the ethanol blend wall, RIN prices and ethanol price premium due to the RFS

    NARCIS (Netherlands)

    Gorter, de H.; Drabik, D.

    2015-01-01

    The ethanol blend wall and high RIN prices has become a controversial policy issue. We develop a model showing how RIN prices reflect the costs of overcoming the blend wall, namely biodiesel consumed in excess of its mandate and expansion of E85 sales. These costs are very high and are shown to be

  18. Report on gas sales regulated tariffs of GDF Suez. Audit of supply costs and of non-supply related costs - May 2015. Deliberation of the Commission for Energy Regulation of the 13 May 2015 bearing approval of the report of analysis of supply and non-supply related costs used as a basis for the calculation of the evolution of natural gas sales regulated tariffs of GDF Suez

    International Nuclear Information System (INIS)

    Gassin, Helene; Padova, Yann; Sotura, Jean-Pierre; Monteil, Anne; Casadei, Cecile

    2015-05-01

    After a presentation of the context and objectives of works performed by the CRE (the French commission for energy regulation), and a synthetic presentation of the main conclusions, this report first proposes an assessment for 2014 by presenting and discussing the fact that regulated tariffs have followed a downward trend since the beginning of 2014, that sales at regulated tariffs have strongly decreased, and that GDF Suez costs have been covered by revenues from sales at regulated tariffs. The second part proposes an analysis of the evolution perspectives for supply costs by commenting the calculation formula, the difference between gas market price and LT contract prices, the always stronger indexing of contracts on gas market prices. The last part addresses the perspectives of evolution of non-supply related costs by commenting the taking of infrastructure cost evolution into account, the steadiness of provisional commercial costs, and the consequence of the customer portfolio evolution on the distribution of commercial force costs. Some recommendations are made on the evolution perspectives for supply and non-supply related costs, and on the modalities of assignment of commercial costs among the different types of customers (regulated tariffs or market price)

  19. Pharmaceutical pricing, price controls, and their effects on pharmaceutical sales and research and development expenditures in the European Union.

    Science.gov (United States)

    Vogel, Ronald J

    2004-08-01

    Each country in the European Union (EU) currently employs direct price controls or permutations of direct price controls, such as reference pricing or limitations on returns to capital. Some countries also use volume controls. A new proposal that is being discussed would have all of the countries in the EU adopt uniform pricing for each pharmaceutical. This paper analyzes the economic effects of free-market pricing individual-country price controls, and uniform EU price controls. Microeconomic and mathematical models were used to simulate and predict probable economic outcomes in a comparative static setting. Price controls may be in the form of price ceilings or price floors. Both forms of price control generate deadweight economic losses in the short run and long run. A uniform EU price for each pharmaceutical sold there would have elements of a price ceiling in some of the countries and of a price floor in other countries. The deadweight loss incurred would be a function of the level at which the uniform price was set by the EU and the price elasticity of demand for each pharmaceutical in each country. Economic efficiency is maximized in both the short run and long run when prices are set in freely competitive markets. An additional important dimension of Ramsey pricing within a competitive context is that it generates funds for investment in pharmaceutical research and development, which enhances economic efficiency in the long run.

  20. Investigating the cross-sales effect of product associations

    OpenAIRE

    Vindevogel, B.; Van de Poel, D.; WETS, Geert

    2004-01-01

    In this research, we use the framework of association rule discovery to find 1,350 interesting product associations between two sku’s. Using multivariate time series techniques, we successively simulate a price promotion in both products and measure the impact on the sales of the associated product. This approach allows us to model both the short run and long run cross-sales effect. For both complement and substitute relationships, we investigate the moderating effect of several covariates on...

  1. Stores, Prices, and Currency Substitution

    OpenAIRE

    Gabriele, Camera; Winkler, Johannes

    1999-01-01

    We study endogenous currency substitution in a decentralized trade environment. Sellers maximize profits from sales of imperfectly substitutable goods by posting prices in either one of two currencies. A unique symmetric equilibrium exists where goods are priced only in the local currency. This occurs if foreign trade is sporadic, there is sufficient but not excessive liquidity, and discounting is low. Excess or scarcity of liquidity, however, induces sellers to extract all surplus from bu...

  2. Cigarette brand diversity and price changes during the implementation of plain packaging in the United Kingdom.

    Science.gov (United States)

    Breton, Magdalena Opazo; Britton, John; Huang, Yue; Bogdanovica, Ilze

    2018-05-29

    Plain packaging of cigarettes appeared in the UK in July 2016 and was ubiquitous by May 2017. The change coincided with another legislative change, raising the minimum pack size from 10 to 20 cigarettes. Laws imposing plain packaging on cigarette packs remove another promotional route from tobacco companies but the effect of such laws on brand diversity, pricing, and sales volume is unknown. This study aimed to 1) describe and quantify changes in brand diversity, price segmentation and sales volumes and 2) estimate the association between the introduction of plain cigarette packaging and cigarette pricing in the UK. We used a natural experiment design to assess the impact of plain packaging legislation on brand diversity and cigarette prices. The data comprised a sample of 76% of sales of cigarettes in the UK between March 2013 and June 2017. United Kingdom MEASUREMENTS: Cigarette prices, number of brands and products, volumes of sales FINDINGS: During the period analysed, there was a slight decrease in the number of cigarette brands. There was also an initial increase observed in the number of cigarette products, mainly due to an increase in the number of products in packs of fewer than 20 cigarettes sold before July 2016, which was then followed by a rapid decrease in the number of products that coincided with the implementation of the new legislation. Cigarette sales volumes during this period did not deviate from the preceding secular trend, but prices rose substantially. Regression results showed that price per cigarette, regardless of pack size, was 5.0 (95% CI 4.8 to 5.3) pence higher in plain than in fully branded packs. For packs of 20 cigarettes, price increases were greater in the lower price quintiles, ranging from 2.6 (95% CI 2.4 to 2.7) GBP in the lowest to 0.3 (95% CI 0.3-0.4) GBP per pack in the highest quintile. The implementation of standardised packaging legislation in the UK, which included minimum pack sizes of 20, was associated with

  3. Peranan Biaya Advertising Dan Biaya Sales Promotion Dalam Meningkatkan Nilai Penjualan Pada PT. Gunung Agung Di Bandar Lampung

    OpenAIRE

    -, Zuriana

    2015-01-01

    CV Gunung Agung established since 1990 is a company which is a branch of PT. Great Mountain Center. As a branch company, product and price has been arranged so that the uniformity of the product and the price is no different in different regions. During the establishment of this company until this year the company has not been able to achieve the sales target has been set from the center. While promotional activities in the form of advertising and sales promotion to achieve the sales target c...

  4. Assessing the Predictive Power of Customer Satisfaction for Financial and Market Performances: Price-to-Earnings Ratio is a Better Predictor Overall

    Directory of Open Access Journals (Sweden)

    Pierre Rostan

    2012-01-01

    Full Text Available Our paper shows that based on the RMSE criteria, Price-to-Earnings ratio is a better predictor of financial and market performances of the firm than the Customer Satisfaction index (CS. This conclusion is based on the choice of five financial and seven market indicators that we consider as proxies for financial and market performances with a sample comprising eighty-six companies: Book value, dividend yield, Gross Profit Margin, Price to Cash-Flows, Price-to-Earnings, Price to Sales, Annual return, ROA, ROE, ROI, Volatility and Tobin’s Q. However, CS clearly outperforms our five benchmarks (Tobin’s Q, Price-to-Cash Flows, Price-to-Earnings, Volatility or the indicator itself when forecasting Tobin’s Q, Volatility, ROE and ROI. In periods of volatile market such as year 2008, CS is a more stable predictor of Volatility or ROE than the indicators themselves (i.e. Volatility for Volatility, ROE for ROE.

  5. Rationally inattentive seller: sales and discrete pricing

    Czech Academy of Sciences Publication Activity Database

    Matějka, Filip

    2016-01-01

    Roč. 83, č. 3 (2016), s. 1125-1155 ISSN 0034-6527 R&D Projects: GA ČR(CZ) GPP402/11/P236 Institutional support: RVO:67985998 Keywords : rational inattention * nominal rigidity * sticky prices Subject RIV: AH - Economics Impact factor: 4.030, year: 2016

  6. Price management mechanisms and the gas contract

    International Nuclear Information System (INIS)

    Dickson, D.J.

    1996-01-01

    Pricing objectives and risk management strategies that can be achieved through the proper use of the standard gas contract, were discussed. Main topics of discussion were: (1) gas sales contract and convertible pricing, (2) gas contract and imbedded hedging, gas contracts and exchange traded instruments, (4) gas contracts fixed for floating swaps, and OTC options and exotics, (5) options and exotic price structures, and (6) advantages and disadvantages of using the gas contract versus the swap agreement

  7. Eesti Gas, Estonia. Sales and marketing course

    International Nuclear Information System (INIS)

    1994-01-01

    A weekly sales and marketing course was organized by the Dansk Olie and Naturgas (the National Oil and Gas Company of Denmark) in Denmark for the Eesti Gas representatives. The program encompassed a survey of the Danish natural gas marketing, sales to the gas utilities and to industry, use of the natural gas in cogeneration plants and the gas pricing as an instrument of economic and environmental policy. Examples of negotiations with Danish industrial and municipal consumers were presented. Competitiveness of natural gas compared to other energy sources was discussed, taxation principles considered. (EG)

  8. Green Power voluntary purchases: Price elasticity and policy analysis

    International Nuclear Information System (INIS)

    Mewton, Ross T.; Cacho, Oscar J.

    2011-01-01

    Green Power schemes offer electricity from renewable energy sources to customers for a higher price than ordinary electricity. This study examines the demand characteristics of Green Power in Australia and policies which could increase its sales. A sample of 250 pooled time series and cross sectional observations was used to estimate a statistically significant elasticity of demand for Green Power with respect to price of -0.96 with a 95% confidence interval of ±68%. The wide variation in market penetration between jurisdictions and between countries for Green Power, and the low awareness of Green Power found by surveys indicate that Green Power sales could be increased by appropriate marketing and government policies. The most cost effective means to increase sales was found to be advertising campaigns although only one Australian example was found, in the state of Victoria in 2005. It was also found that full tax deductibility of the Green Power premium to residential customers, exemption from the Goods and Services Tax and a tax rebate for Green Power are all probably less cost effective for promoting sales than direct government purchase of Green Power, in terms of cost per unit of increased sales.

  9. Green Power voluntary purchases: Price elasticity and policy analysis

    Energy Technology Data Exchange (ETDEWEB)

    Mewton, Ross T., E-mail: rtmewton@hotmail.co [University of New England (Australia); Cacho, Oscar J. [School of Business Economics and Public Policy, School of Economics, University of New England, Armidale, NSW 2351 (Australia)

    2011-01-15

    Green Power schemes offer electricity from renewable energy sources to customers for a higher price than ordinary electricity. This study examines the demand characteristics of Green Power in Australia and policies which could increase its sales. A sample of 250 pooled time series and cross sectional observations was used to estimate a statistically significant elasticity of demand for Green Power with respect to price of -0.96 with a 95% confidence interval of {+-}68%. The wide variation in market penetration between jurisdictions and between countries for Green Power, and the low awareness of Green Power found by surveys indicate that Green Power sales could be increased by appropriate marketing and government policies. The most cost effective means to increase sales was found to be advertising campaigns although only one Australian example was found, in the state of Victoria in 2005. It was also found that full tax deductibility of the Green Power premium to residential customers, exemption from the Goods and Services Tax and a tax rebate for Green Power are all probably less cost effective for promoting sales than direct government purchase of Green Power, in terms of cost per unit of increased sales.

  10. Green Power voluntary purchases. Price elasticity and policy analysis

    Energy Technology Data Exchange (ETDEWEB)

    Mewton, Ross T. [University of New England (Australia); Cacho, Oscar J. [School of Business Economics and Public Policy, School of Economics, University of New England, Armidale, NSW 2351 (Australia)

    2011-01-15

    Green Power schemes offer electricity from renewable energy sources to customers for a higher price than ordinary electricity. This study examines the demand characteristics of Green Power in Australia and policies which could increase its sales. A sample of 250 pooled time series and cross sectional observations was used to estimate a statistically significant elasticity of demand for Green Power with respect to price of -0.96 with a 95% confidence interval of {+-}68%. The wide variation in market penetration between jurisdictions and between countries for Green Power, and the low awareness of Green Power found by surveys indicate that Green Power sales could be increased by appropriate marketing and government policies. The most cost effective means to increase sales was found to be advertising campaigns although only one Australian example was found, in the state of Victoria in 2005. It was also found that full tax deductibility of the Green Power premium to residential customers, exemption from the Goods and Services Tax and a tax rebate for Green Power are all probably less cost effective for promoting sales than direct government purchase of Green Power, in terms of cost per unit of increased sales. (author)

  11. Neighbourhood exposure to point-of-sale price promotions for cigarettes is associated with financial stress among smokers: results from a population-based study.

    Science.gov (United States)

    Siahpush, Mohammad; Tibbits, Melissa; Soliman, Ghada A; Grimm, Brandon; Shaikh, Raees A; McCarthy, Molly; Wan, Neng; Ramos, Athena K; Correa, Antonia

    2017-11-01

    To examine the association between neighbourhood exposure to point-of-sale (POS) cigarette price promotions and financial stress among smokers in a Midwestern metropolitan area in the USA. Survey data from 888 smokers provided information on sociodemographic and smoking related variables. Financial stress was measured with the question: 'In the last six months, because of lack of money, was there a time when you were unable to buy food or pay any important bills on time, such as electricity, telephone, credit card, rent or your mortgage? (Yes/No).' Using audit data from 504 tobacco retailers, we estimated a score of POS price promotions for each respondent by summing the different types of promotion in each store in their neighbourhood, as defined by a 1-km roadway buffer. Adjusted results provided strong support for an association between higher scores of neighbourhood POS cigarette price promotions and a higher probability of financial stress (p=0.007). Exposure to POS cigarette price promotions is associated with financial stress. This finding, coupled with previous reports that smokers with financial stress are less likely to attempt to quit or succeed in quitting smoking, suggests that POS cigarette price promotions may act as an impediment to smoking cessation. © Article author(s) (or their employer(s) unless otherwise stated in the text of the article) 2017. All rights reserved. No commercial use is permitted unless otherwise expressly granted.

  12. The price impact of block transactions in the Netherlands

    NARCIS (Netherlands)

    de Jong, Abe; Marra, Teye; van Beusichem, Herman Clasinus

    2016-01-01

    In this paper, the authors analyse the stock price effects of block transactions and the disclosure thereof for Dutch firms. The authors measure a significant positive price effect for block purchases directly around the transaction date, but not for block sales. The authors do not measure a

  13. Going cheap: determinants of bird price in the Taiwanese pet market.

    Science.gov (United States)

    Su, Shan; Cassey, Phillip; Vall-Llosera, Miquel; Blackburn, Tim M

    2015-01-01

    International wildlife trade is the largest emerging source of vertebrate invasive alien species. In order to prevent invasions, it is essential to understand the mechanics of trade and, in particular, which traded species are most likely to be released or escape into the wild. A species' economic value is a key factor, because we expect cheaper species to be less assiduously secured against escaping, and more likely to be deliberately released. Here, we investigate determinants of the price of species in the Taiwanese bird trade. Taiwan is an international hub for bird trade, and several native species are threatened by alien bird species. We investigated the relationship between the traded species sale price in Taiwan and the species availability for trade (the number of birds for sale, geographic range size and their origin, conservation and CITES status) and traits (body size, coloration, song attractiveness). We used phylogenetic generalized least squares models, with multi-model inference, to assess the variables that are best related to the price of birds in the Taiwanese pet trade. We found that species available for sale in larger numbers, native to Taiwan, not globally endangered, and small-bodied are all relatively cheaper, as too are species lacking yellow coloration and without attractive songs. Our models of price revealed high levels of phylogenetic correlation, and hence that closely related species tended to be sold for similar prices. We suggest that, on the basis of price, native species are more likely to be deliberately or accidentally released than alien species. Nevertheless, our survey of bird shops recorded 160 species alien to Taiwan (7,631 individuals), several of which are for sale cheaply and in large numbers. Alien bird species in trade therefore present an ongoing, non-trivial invasion risk on the island.

  14. Coordinating Multi-Channel Pricing of Seasonal Goods

    OpenAIRE

    Preetam Basu

    2012-01-01

    Advancement in information technology has opened new avenues for traditional retailers to expand their operations. Pricing, which has been a critical issue, is more important than ever before as traditional retailers pursue multi-channel sales. In this paper the author studies the pricing problem of a retailer selling a seasonal product simultaneously in a ‘brick and mortar’ store as well as online. Optimal prices are derived and different product-market conditions are determined under wh...

  15. Pricing and simulation for real estate index options: Radial basis point interpolation

    Science.gov (United States)

    Gong, Pu; Zou, Dong; Wang, Jiayue

    2018-06-01

    This study employs the meshfree radial basis point interpolation (RBPI) for pricing real estate derivatives contingent on real estate index. This method combines radial and polynomial basis functions, which can guarantee the interpolation scheme with Kronecker property and effectively improve accuracy. An exponential change of variables, a mesh refinement algorithm and the Richardson extrapolation are employed in this study to implement the RBPI. Numerical results are presented to examine the computational efficiency and accuracy of our method.

  16. The distribution price control and the 'revenue driver'

    International Nuclear Information System (INIS)

    Warren, Andrew

    1995-01-01

    The recent review by the UK electricity Regulator of the electricity companies' distribution price control is analysed. The revenue driver is related to sales volume and number of customers with fifty fifty weighting. This article argues that these are not the appropriate weightings and that peak demand rather than sales is more important. Without such changes, energy efficiency will be disadvantaged. (UK)

  17. 17 CFR 240.15c1-8 - Sales at the market.

    Science.gov (United States)

    2010-04-01

    ... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Sales at the market. 240.15c1... Securities Exchange Act of 1934 Rules Relating to Over-The-Counter Markets § 240.15c1-8 Sales at the market... securities exchange that such security is being offered to such customer “at the market” or at a price...

  18. Report on the inquiry into sale price fluctuations of gasoline and diesel fuel in the regions of Abitibi-Temiscamingue, Saguenay-Lac Saint Jean and the Upper Mauricie, October 1998 to 31 December 1999

    International Nuclear Information System (INIS)

    Lambert, L.; Dumais, M. A.

    2000-01-01

    An inquiry was initiated by the President of the Quebec Energy Board (Regie de l'energie) on October 7, 1999 to review the reasons for the wide fluctuations in the retail sale prices of gasoline and diesel fuel in the regions of Abitibi-Temiscamingue, Saguenay/Lac-Saint-Jean and the Upper Mauricie, although the Board has no jurisdiction over the prices charged for petroleum products or anti-competitive practices. Consequently, the inquiry confined itself to an analysis of the information pertaining to the structure and forces driving the petroleum products market, and an examination of price mechanisms and consumer reactions in these regions. The inquiry reviewed the relevant legislation and regulation, the social, economic and energy situations in the affected regions, and the structure and functioning of the market for gasoline and diesel fuel. The inquiry came to the conclusion that the price fluctuations during the period under review reflected the wholesale prices recorded at Montreal and Quebec, which are determined by national and international market forces over which Quebec has no significant control. Furthermore, the inquiry concluded that although market forces are present and functioning in the regions, there are relatively few outlets affiliated with major oil companies, and a large number of independent retail outlets with relatively small volumes of annual sales. They essentially set their own prices at a level that reflect their cost of operation. Appendices contain the Inquiry's mandate, a list of those who testified before the Inquiry, a map showing the geographic profile of the regions surveyed and a list of figures and tables. 18 tabs., 31 figs

  19. A Comparative Analysis of the Price Index in Transition Countries in the Time of Globalisation

    Directory of Open Access Journals (Sweden)

    Pejović Igor

    2014-01-01

    Full Text Available Globalisation with all its features can be divided in two segments - good and bad. When we look at the good side of globalisation, it is obvious that it has erased boundaries between countries in terms of trade, education, knowledge sharing, and other new technologies, while on the other hand, the bad side is that it has created a considerable gap between developed and developing countries, then different types of commercial, political and other conditioning, and dependence on strong, developed states. A great contribution to the negative part of globalisation was of economic instability that occurred at the beginning of this century and which consequences are still present in the world. In this article, we presented the impact of economic instability on the price index trough a comparative analysis of transition countries such as Montenegro, Serbia and Croatia over a period of five years (Croatia has just recently become a member of the European Union and due to that fact it was included in this study. The survey covered price indices relating to the prices of industrial products for the domestic markets, consumer price indices, indices of the hospitality services and the prices of the agricultural products.

  20. Comprehensive optimisation of China’s energy prices, taxes and subsidy policies based on the dynamic computable general equilibrium model

    International Nuclear Information System (INIS)

    He, Y.X.; Liu, Y.Y.; Du, M.; Zhang, J.X.; Pang, Y.X.

    2015-01-01

    Highlights: • Energy policy is defined as a complication of energy price, tax and subsidy policies. • The maximisation of total social benefit is the optimised objective. • A more rational carbon tax ranges from 10 to 20 Yuan/ton under the current situation. • The optimal coefficient pricing is more conducive to maximise total social benefit. - Abstract: Under the condition of increasingly serious environmental pollution, rational energy policy plays an important role in the practical significance of energy conservation and emission reduction. This paper defines energy policies as the compilation of energy prices, taxes and subsidy policies. Moreover, it establishes the optimisation model of China’s energy policy based on the dynamic computable general equilibrium model, which maximises the total social benefit, in order to explore the comprehensive influences of a carbon tax, the sales pricing mechanism and the renewable energy fund policy. The results show that when the change rates of gross domestic product and consumer price index are ±2%, ±5% and the renewable energy supply structure ratio is 7%, the more reasonable carbon tax ranges from 10 to 20 Yuan/ton, and the optimal coefficient pricing mechanism is more conducive to the objective of maximising the total social benefit. From the perspective of optimising the overall energy policies, if the upper limit of change rate in consumer price index is 2.2%, the existing renewable energy fund should be improved

  1. Pricing Decisions of Competing Tobacco Enterprises with Online Channel

    Directory of Open Access Journals (Sweden)

    Rong Zhang

    2015-01-01

    Full Text Available According to the new measurement of launching online distribution channels of tobacco enterprises in China, this paper investigates the tobacco firm’s pricing decisions on the supply chain which consists of two manufacturers and one retailer under three dual-channel structures. Three dual-channel structures include no online channel, only one online channel by one manufacture, and two online channels by two manufacturers. We apply the Stackelberg game to analyze the equilibrium pricing strategies under different structures and try to explore the necessity and advantages of launching online sales channels. The results demonstrate that the substitutability of a product has significant impact on introducing online sales channels, and the online dual-channel structure could result in less profit for manufacturers compared to the traditional retail channel structure; and thus, a dual-channel structure with online sales is not the best strategy for traditional manufacturers. Moreover, when the product is less substitutable, the effect of the tobacco control on the online sales channel is inferior to the traditional channels and vice versa.

  2. WEATHER DERIVATIVES: THE MOST COMMON PRICING AND VALUATION METHODS

    Directory of Open Access Journals (Sweden)

    Botos Horia Mircea

    2013-07-01

    Full Text Available In recent years , weather derivatives have become a common tool in risk management for many sectors. This has its roots in that there is no unique way to determine de value and price solutions that would be generally approved by market-participants, like in the case of the Black-Scholes formula for options on non-dividend-paying stocks is the source for a constant debate between academics and practitioners. One look for fair and truly correct prices, while the others search every-day applicable solutions. To be honest... this is somehow like alchemy. This paper has as purpose the examination of statistical characteristics of weather data, data clearing and filling techniques. The study will be referring to temperatures because that is the best analyzed phenomenon, being the most common. This was also heavily influenced by energy companies and energetic interests, because the degree days were of interest ever before weather derivatives were put for sale. Main ideas are explaining what ways of pricing and valuation are, put into perspective for this financial instrument, taking into consideration that the Black-Scholes Model is not suitable. Also here, we will present the pros and cons that we found for each method. The methods are: the Burn analysis, the index value simulation method (IVSM, the daily simulation method (DSM.On the hole, this paper wants to shed light the weather derivatives pricing methods a mix of insurance pricing and standard financial models. At the end we will prospect the discounting problem, by means of the Consumption based Capital Asset Pricing Model (CCAPM.

  3. 7 CFR 1599.11 - Use of commodities and sale proceeds.

    Science.gov (United States)

    2010-01-01

    ... SERVICE, DEPARTMENT OF AGRICULTURE McGOVERN-DOLE INTERNATIONAL FOOD FOR EDUCATION AND CHILD NUTRITION... sell the donated commodities at a reasonable market price in the economy where the sale occurs. The...

  4. Uranium price reporting systems

    International Nuclear Information System (INIS)

    1987-09-01

    This report describes the systems for uranium price reporting currently available to the uranium industry. The report restricts itself to prices for U 3 O 8 natural uranium concentrates. Most purchases of natural uranium by utilities, and sales by producers, are conducted in this form. The bulk of uranium in electricity generation is enriched before use, and is converted to uranium hexafluoride, UF 6 , prior to enrichment. Some uranium is traded as UF 6 or as enriched uranium, particularly in the 'secondary' market. Prices for UF 6 and enriched uranium are not considered directly in this report. However, where transactions in UF 6 influence the reported price of U 3 O 8 this influence is taken into account. Unless otherwise indicated, the terms uranium and natural uranium used here refer exclusively to U 3 O 8 . (author)

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

    OpenAIRE

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

    2005-01-01

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

  6. 75 FR 13129 - General Services Administration Acquisition Regulation; Submission for OMB Review; Sales Practice...

    Science.gov (United States)

    2010-03-18

    ... Services Administration Acquisition Regulation; Submission for OMB Review; Sales Practice Format--Supplies and/or Services With an Established Catalog Price and Sales Practices Format-- Supplies and/or... will be submitting to the Office of Management and Budget (OMB) a request to review and approve a new...

  7. 12 CFR 563b.330 - How do I price my conversion shares?

    Science.gov (United States)

    2010-01-01

    ... FROM MUTUAL TO STOCK FORM Standard Conversions Offers and Sales of Stock § 563b.330 How do I price my conversion shares? (a) You must sell your conversion shares at a uniform price per share and at a total price... 12 Banks and Banking 5 2010-01-01 2010-01-01 false How do I price my conversion shares? 563b.330...

  8. 77 FR 40704 - Price for the 2012 American Eagle Silver Uncirculated Coin

    Science.gov (United States)

    2012-07-10

    ... DEPARTMENT OF THE TREASURY United States Mint Price for the 2012 American Eagle Silver... States Mint is announcing the price of the 2012 American Eagle Silver Uncirculated Coin. The coin will be offered for sale at a price of $45.95. FOR FURTHER INFORMATION CONTACT: B. B. Craig, Associate Director...

  9. Pricing the Innovation for Market Introduction

    Directory of Open Access Journals (Sweden)

    Dănut Tiberius Epure

    2006-10-01

    Full Text Available The factors that influence pricing strategy change over the life of a product concept. The market defined by a product concept passes through four phases: development, growth, maturity, and decline. Briefly, the changes in the strategic environment over those phases are as follows: Market development. Buyers are price insensitive because they knowledge of the product’s benefits. Both production and not a threat since the potential gains from market development exceed those from competitive rivalry. Pricing strategy signals the product’s value to potential buyers, but buyer education remains the key to sales growth.

  10. Report on electricity sales regulated tariffs - July 2015

    International Nuclear Information System (INIS)

    2015-07-01

    After having recalled the legal context of regulated tariffs for electricity sale, this report aims at assessing the level of tariff stacking for 2015 while taking some factors (EDF commercial costs, tariff for the use of electricity public network or TURPE) into account, at calculating the rate of EDF cost coverage by sales regulated tariffs, at assessing price adjustments made between November 2014 and July 2015. The first part proposes a detailed analysis of tariffing by cost stacking, and the second part a detailed analysis of EDF production costs

  11. Modeling of geographical pricing: A game analysis of siberian fuel costs

    Science.gov (United States)

    Sivushina, Anastasiya; Kombu, Anchy; Ryumkin, Valeriy

    2017-11-01

    In the present study, we propose a novel game-theoretic pricing model describing the interaction between producers and retailers of goods in conditions of poor transport infrastructure and sparse geographical distribution of the points of sale. The proposed model generalizes the Stackelberg leadership model for an arbitrary number of leaders and followers. We show that the model always has a Nash and Stackelberg equilibria. We also provide formulas for the equilibrium prices and volume of sales. As an example we model diesel pricing in south Siberia. Our model found no signs of a cartel. The results of this paper can be used by policymakers to inform market regulations aimed at promoting free competition and avoiding monopolies in production and retail of goods.

  12. Collaborative Communication between Sales and Logistics and Its Impact on Business Process Effectiveness: A Theoretical Approach

    OpenAIRE

    Gabler, Colin B.; Agnihotri, Raj; Moberg, Chris R.

    2014-01-01

    Logistics functions have played a critical role in cementing organizational efficiency and price control. At the same time, sales has become more than closing the deal, as value can be created throughout the sales process, including post-purchase activities. Therefore, sales and logistics must come together to create value for the firm as well as customers. Building on the marketing-channel communication strategy viewpoint, we conceptualize the integration between sales and logistics. We prop...

  13. Matched conversion sales in the nuclear fuel market

    International Nuclear Information System (INIS)

    Fuller, D.M.

    1996-01-01

    The negotiations leading up to the Suspension Agreement with Russia focused solely on uranium and SWU, leaving conversion in its traditional role as the overlooked constituent of the fuel cycle. In fact, the initial agreement did not even distinguish U 3 O 8 from UF 6 ; it effectively ignored the conversion component contained in UF 6 and the possibility of matched conversion sales. After some criticism from ConverDyn and others, The US Department of Commerce issued a clarification, confirming that all three major components of the fuel cycle can be sold under matched sales agreements. However, matched conversion sales remain somewhat of an enigma as few have been done and the logistics are poorly understood. Nonetheless, in a conversion market where supply and demand are closely balanced, secondary supplies, including those from matched sales, will likely play an important role in the evolution of conversion prices

  14. Index options : Pricing, implied densities and returns

    NARCIS (Netherlands)

    Boes, M.J.

    2006-01-01

    Chapter 2 gives an overview of the literature that is directly related to the topics studied in this thesis. In Chapter 3 the impact of overnight periods on option prices is examined by estimating an option pricing model that takes overnight closures of exchanges explicitly into account. Chapter 4

  15. 24 CFR 1715.20 - Unlawful sales practices-regulatory provisions.

    Science.gov (United States)

    2010-04-01

    ... to deliver a Property Report to any person who exhibits an interest in buying or leasing a lot in the... represented future increase in value and the factual basis is certain, and; (3) The sales price of the offered...

  16. 77 FR 43662 - Price for the 2012 American Eagle Silver Proof Coin

    Science.gov (United States)

    2012-07-25

    ... DEPARTMENT OF THE TREASURY United States Mint Price for the 2012 American Eagle Silver Proof Coin... is lowering the price of the 2012 American Eagle Silver Proof Coin. The product will now be offered for sale at a price of $54.95. FOR FURTHER INFORMATION CONTACT: B. B. Craig, Associate Director for...

  17. 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.

  18. Retailer-Led Sugar-Sweetened Beverage Price Increase Reduces Purchases in a Hospital Convenience Store in Melbourne, Australia: A Mixed Methods Evaluation.

    Science.gov (United States)

    Blake, Miranda R; Peeters, Anna; Lancsar, Emily; Boelsen-Robinson, Tara; Corben, Kirstan; Stevenson, Christopher E; Palermo, Claire; Backholer, Kathryn

    2018-06-01

    Limited evidence has been gathered on the real-world impact of sugar-sweetened beverage price changes on purchasing behavior over time or in community-retail settings. Our aim was to determine changes in beverage purchases, business outcomes, and customer and retailer satisfaction associated with a retailer-led sugar-sweetened beverage price increase in a convenience store. We hypothesized that purchases of less-healthy beverages would decrease compared to predicted sales. A convergent parallel mixed methods design complemented sales data (122 weeks pre-intervention, 17 weeks during intervention) with stakeholder interviews and customer surveys. Electronic beverage sales data were collected from a convenience store in Melbourne, Australia (August through November 2015). Convenience store staff completed semi-structured interviews (n=4) and adult customers exiting the store completed surveys (n=352). Beverages were classified using a state government framework. Prices of "red" beverages (eg, nondiet soft drinks, energy drinks) increased by 20%. Prices of "amber" (eg, diet soft drinks, small pure fruit juices) and "green" beverages (eg, water) were unchanged. Changes in beverage volume, item sales, and revenue during the intervention were compared with predicted sales. Sales data were analyzed using time series segmented regression while controlling for pre-intervention trends, autocorrelation in sales data, and seasonal fluctuations. Beverage volume sales of red (-27.6%; 95% CI -32.2 to -23.0) and amber (-26.7%; 95% CI -39.3 to -16.0) decreased, and volume of green beverages increased (+26.9%; 95% CI +14.1 to +39.7) in the 17th intervention week compared with predicted sales. Store manager and staff considered the intervention business-neutral, despite a small reduction in beverage revenue. Fifteen percent of customers noticed the price difference and 61% supported the intervention. A 20% sugar-sweetened beverage price increase was associated with a reduction

  19. 5 CFR 591.228 - How does OPM convert the price index plus adjustment factor to a COLA rate?

    Science.gov (United States)

    2010-01-01

    ... MANAGEMENT CIVIL SERVICE REGULATIONS ALLOWANCES AND DIFFERENTIALS Cost-of-Living Allowance and Post Differential-Nonforeign Areas Cost-Of-Living Allowances § 591.228 How does OPM convert the price index plus...

  20. Hedonic Retail Beef and Pork Product Prices

    OpenAIRE

    Parcell, Joseph L.; Schroeder, Ted C.

    2007-01-01

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

  1. Dynamic Pricing in Electronic Commerce Using Neural Network

    Science.gov (United States)

    Ghose, Tapu Kumar; Tran, Thomas T.

    In this paper, we propose an approach where feed-forward neural network is used for dynamically calculating a competitive price of a product in order to maximize sellers’ revenue. In the approach we considered that along with product price other attributes such as product quality, delivery time, after sales service and seller’s reputation contribute in consumers purchase decision. We showed that once the sellers, by using their limited prior knowledge, set an initial price of a product our model adjusts the price automatically with the help of neural network so that sellers’ revenue is maximized.

  2. Pricing Strategies for Viral Marketing on Social Networks

    KAUST Repository

    Arthur, David

    2009-01-01

    We study the use of viral marketing strategies on social networks that seek to maximize revenue from the sale of a single product. We propose a model in which the decision of a buyer to buy the product is influenced by friends that own the product and the price at which the product is offered. The influence model we analyze is quite general, naturally extending both the Linear Threshold model and the Independent Cascade model, while also incorporating price information. We consider sales proceeding in a cascading manner through the network, i.e. a buyer is offered the product via recommendations from its neighbors who own the product. In this setting, the seller influences events by offering a cashback to recommenders and by setting prices (via coupons or discounts) for each buyer in the social network. This choice of prices for the buyers is termed as the seller\\'s strategy. Finding a seller strategy which maximizes the expected revenue in this setting turns out to be NP-hard. However, we propose a seller strategy that generates revenue guaranteed to be within a constant factor of the optimal strategy in a wide variety of models. The strategy is based on an influence-and-exploit idea, and it consists of finding the right trade-off at each time step between: generating revenue from the current user versus offering the product for free and using the influence generated from this sale later in the process. © 2009 Springer-Verlag Berlin Heidelberg.

  3. Oil markets and prices: the Brent market and the formation of world oil prices

    International Nuclear Information System (INIS)

    Horsnell, Paul; Mabro, Robert.

    1993-01-01

    The purpose of this book is to enhance our understanding of the complex working of the world petroleum market and of the formation of oil prices in international trade. It devotes particular attention to the Brent market which involves spot, physical forward and futures trading of a blend of North Sea crudes known as Brent which has become one of the most important markers for world oil prices. Because the Brent market is central the research presented here examines its relationship to the constellation of other oil markets: those which deal on a spot basis with the main export crude of Africa, the Gulf, the Far East and the North Sea, the market for Dubai, another marker crude, and that for West Texas Intermediate (WTI). Finally an analysis of pricing mechanisms used by OPEC and many non-OPEC exporting countries for their oil sales under term contracts and which use Brent prices as one of their references complete this study on oil markets and prices. (author)

  4. In-Store Experimental Approach to Pricing and Consumer Behavior

    Science.gov (United States)

    Sigurdsson, Valdimar; Foxall, Gordon; Saevarsson, Hugi

    2010-01-01

    This study assessed how, and to what extent, it is possible to use behavioral experimentation and relative sales analysis to study the effects of price on consumers' brand choices in the store environment. An in-store experiment was performed in four stores to investigate the effects of different prices of a target brand on consumers' relative…

  5. 27 CFR 6.43 - Sale of equipment.

    Science.gov (United States)

    2010-04-01

    ... OF THE TREASURY LIQUORS âTIED-HOUSEâ Unlawful Inducements Furnishing Things of Value § 6.43 Sale of equipment. A transaction in which equipment is sold to a retailer by an industry member, except as provided.... Further, the negotiation by an industry member of a special price to a retailer for equipment from an...

  6. Do stock prices drive people crazy?

    Science.gov (United States)

    Lin, Chung-Liang; Chen, Chin-Shyan; Liu, Tsai-Ching

    2015-03-01

    This is the first research to examine a potential relation between stock market volatility and mental disorders. Using data on daily incidences of mental disorders in Taiwan over 4000 days from 1998 through 2009 to assess the time-series relation between stock price movements and mental disorders, we observe that stock price fluctuation clearly affects the hospitalization of mental disorders. We find that during a 12-year follow-up period, a low stock price index, a daily fall in the stock price index and consecutive daily falls in the stock price index are all associated with greater of mental disorders hospitalizations. A 1000-point fall in the TAIEX (Taiwan Stock Exchange Capitalization Weighted Stock Index) increases the number of daily mental disorders hospitalizations by 4.71%. A 1% fall in the TAIEX in one single day increases daily hospitalizations for mental disorders by 0.36%. When the stock price index falls one consecutive day, it causes a daily increase of approximately 0.32% hospitalizations due to mental disorders on that day. Stock price index is found to be significant for both gender and all age groups. In addition, daily change is significant for both gender and middle-age groups, whereas accumulated change is significant for males and people aged 45-64. Stockholdings can help people accumulate wealth, but they can also increase mental disorders hospitalizations. In other words, stock price fluctuations do drive people crazy. Published by Oxford University Press in association with The London School of Hygiene and Tropical Medicine © The Author 2014; all rights reserved.

  7. 75 FR 28839 - Self-Regulatory Organizations; The NASDAQ Stock Market LLC; Notice of Filing of a Proposed Rule...

    Science.gov (United States)

    2010-05-24

    ... individual stocks contained in the Standard & Poor's 500 Index (``S&P 500'') that experience a price change... this paragraph will be calculated by changes in each consolidated last-sale price disseminated by a... the primary listing market if the price of such security moves 10% or more from a sale in a preceding...

  8. Pricing Strategies to Encourage Availability, Purchase, and Consumption of Healthy Foods and Beverages: A Systematic Review

    Science.gov (United States)

    Trude, Angela Cristina Bizzotto; Kim, Hyunju

    2017-01-01

    Introduction Food pricing policies to promote healthy diets, such as taxes, price manipulations, and food subsidies, have been tested in different settings. However, little consensus exists about the effect of these policies on the availability of healthy and unhealthy foods, on what foods consumers buy, or on the impact of food purchases on consumer health outcomes. We conducted a systematic review of studies of the effect of food-pricing interventions on retail sales and on consumer purchasing and consumption of healthy foods and beverages. Methods We used MEDLINE, Embase, PsycINFO, Web of Science, ClinicalTrials.gov, and the Cochrane Library to conduct a systematic search for peer-reviewed articles related to studies of food pricing policies. We selected articles that were published in English from January 2000 through December 2016 on the following types of studies: 1) real-world experimental studies (randomized controlled trials, quasi-experimental studies, and natural experiments); 2) population studies of people or retail stores in middle-income and high-income countries; 3) pricing interventions alone or in combination with other strategies (price promotions, coupons, taxes, or cash-back rebates), excluding studies of vending-machine or online sales; and 4) outcomes studies at the retail (stocking, sales) and consumer (purchasing, consumption) levels. We selected 65 articles representing 30 studies for review. Results Sixteen pricing intervention studies that sought to improve access to healthy food and beverage options reported increased stocking and sales of promoted food items. Most studies (n = 23) reported improvement in the purchasing and consumption of healthy foods or beverages or decreased purchasing and consumption of unhealthy foods or beverages. Most studies assessed promotions of fresh fruits and vegetables (n = 20); however, these foods may be hard to source, have high perishability, and raise concerns about safety and handling. Few of the

  9. Pricing Strategies to Encourage Availability, Purchase, and Consumption of Healthy Foods and Beverages: A Systematic Review.

    Science.gov (United States)

    Gittelsohn, Joel; Trude, Angela Cristina Bizzotto; Kim, Hyunju

    2017-11-02

    Food pricing policies to promote healthy diets, such as taxes, price manipulations, and food subsidies, have been tested in different settings. However, little consensus exists about the effect of these policies on the availability of healthy and unhealthy foods, on what foods consumers buy, or on the impact of food purchases on consumer health outcomes. We conducted a systematic review of studies of the effect of food-pricing interventions on retail sales and on consumer purchasing and consumption of healthy foods and beverages. We used MEDLINE, Embase, PsycINFO, Web of Science, ClinicalTrials.gov, and the Cochrane Library to conduct a systematic search for peer-reviewed articles related to studies of food pricing policies. We selected articles that were published in English from January 2000 through December 2016 on the following types of studies: 1) real-world experimental studies (randomized controlled trials, quasi-experimental studies, and natural experiments); 2) population studies of people or retail stores in middle-income and high-income countries; 3) pricing interventions alone or in combination with other strategies (price promotions, coupons, taxes, or cash-back rebates), excluding studies of vending-machine or online sales; and 4) outcomes studies at the retail (stocking, sales) and consumer (purchasing, consumption) levels. We selected 65 articles representing 30 studies for review. Sixteen pricing intervention studies that sought to improve access to healthy food and beverage options reported increased stocking and sales of promoted food items. Most studies (n = 23) reported improvement in the purchasing and consumption of healthy foods or beverages or decreased purchasing and consumption of unhealthy foods or beverages. Most studies assessed promotions of fresh fruits and vegetables (n = 20); however, these foods may be hard to source, have high perishability, and raise concerns about safety and handling. Few of the pricing studies we reviewed

  10. 19 CFR 351.406 - Calculation of normal value if sales are made at less than cost of production.

    Science.gov (United States)

    2010-04-01

    ... Price, Fair Value, and Normal Value § 351.406 Calculation of normal value if sales are made at less than cost of production. (a) Introduction. In determining normal value, the Secretary may disregard sales of... 19 Customs Duties 3 2010-04-01 2010-04-01 false Calculation of normal value if sales are made at...

  11. 26 CFR 301.7505-1 - Sale of personal property acquired by the United States.

    Science.gov (United States)

    2010-04-01

    ... by the United States in payment of or as security for debts arising under the internal revenue laws... substantially higher price may be obtained, the sale may be held outside his district. (ii) Rejection of bids... any and all bids and withdraw the property from the sale. When it appears to the internal revenue...

  12. Fluctuation traits of Litchi wholesale price in China

    Science.gov (United States)

    Yan, F. F.; Qi, W. E.; Ouyang, X.

    2017-07-01

    This paper chose the wholesale price of litchi as research object based on the daily data of 11 main sales markets in China -- Beijing, Chengdu, Guangzhou, Hefei, Jiaxing, Nanjing, Shanghai, Shenyang, Changsha, Zhengzhou and Chongqing from April 1, 2012 to September 30, 2016. After analyzing the fluctuation characteristics with BP filter method and H-P filter method, and the fluctuation trends of litchi wholesale price in China obtained by BP filter are roughly consistent with the trends obtained by H-P filter. The main conclusions are as follows: there is strong cyclicality in the fluctuation of litchi wholesale price; the period of fluctuations of litchi wholesale prices are not repeatable; litchi wholesale price fluctuates asymmetrically in one fluctuation cycle.

  13. Price and Income Elasticity of Australian Retail Finance: An Autoregressive Distributed Lag (ARDL Approach

    Directory of Open Access Journals (Sweden)

    Helen Higgs

    2014-03-01

    Full Text Available This paper models the price and income elasticity of retail finance in Australia using aggregate quarterly data and an autoregressive distributed lag (ARDL approach. We particularly focus on the impact of the global financial crisis (GFC from 2007 onwards on retail finance demand and analyse four submarkets (period analysed in brackets: owneroccupied housing loans (Sep 1985–June 2010, term loans (for motor vehicles, household goods and debt consolidation, etc. (Dec 1988–Jun 2010, credit card loans (Mar 1990–Jun 2010, and margin loans (Sep 2000–Jun 2010. Other than the indicator lending rates and annual full-time earnings respectively used as proxies for the price and income effects, we specify a large number of other variables as demand factors, particularly reflecting the value of the asset for which retail finance demand is derived. These variously include the yield on indexed bonds as a proxy for inflation expectations, median housing prices, consumer sentiment indices as measures of consumer confidence, motor vehicle and retail trade sales, housing debt-to-housing assets as a measure of leverage, the proportion of protected margin lending, the available credit limit on credit cards, and the All Ordinaries Index. In the long run, we find significant price elasticities only for term loans and margin loans, and significant income elasticities of demand for housing loans, term loans and margin loans. We also find that the GFC only significantly affected the longrun demand for term loans and margin loans. In the short run, we find that the GFC has had a significant effect on the price elasticity of demand for term loans and margin loans. Expected inflation is also a key factor affecting retail finance demand. Overall, most of the submarkets in the analysis indicate that retail finance demand is certainly price inelastic but more income elastic than conventionally thought.

  14. Endogenous choice of bank liquidity: the role of fire sales

    OpenAIRE

    Acharya, Viral; Song Shin, Hyun; Yorulmazer, Tanju

    2009-01-01

    Banks’ liquidity is a crucial determinant of the adversity of banking crises. In this paper, we consider the effect of fire sales and entry during crises on banks’ ex-ante choice of liquid asset holdings. We consider a setting with limited pledgeability of risky cash flows relative to safe ones and a differential expertise between banks and outsiders in employing banking assets. When a large number of banks fail, market for assets clears only at fire-sale prices and outsiders enter the market...

  15. An examination of the effect on cigarette prices and promotions of Philip Morris USA penalties to stores that sell cigarettes to minors.

    Science.gov (United States)

    Feighery, E C; Schleicher, N C; Ribisl, K M; Rogers, T

    2009-12-01

    The purpose of this study was to assess the potential impact of public policies to regulate price discounting strategies on retail cigarette prices and advertising. Philip Morris USA (PM USA) has a policy designed to sanction stores violating state laws banning illegal tobacco sales to minors by temporarily suspending price discounting incentives. This study examined the impact of those sanctions on retail cigarette prices and sales promotion advertising. In November 2006, the California Attorney General's Office informed PM USA that 196 stores were found guilty of illegal underage sales. Of these, 109 stores that participated in the PM USA Retail Leaders Program were notified that their merchandising and/or promotional resources would be suspended for the month of April 2007. The remaining 87 stores were not sanctioned and served as a comparison group. Trained raters assessed advertising and prices of selected PM USA brands in these stores pre-penalty and during the penalty phase. There were no significant differences between sanctioned and non-sanctioned stores on median changes in price and sales promotion advertising from the pre-penalty to the penalty phase. The lack of impact on cigarette prices and advertising indicate that the PM USA policy may be flawed in its design or execution. If public policies are developed to restrain cigarette price discounting strategies, they should be crafted to ensure compliance and preclude possible compensatory actions by retailers.

  16. Optimal Portfolio Selection in Ex Ante Stock Price Bubble and Furthermore Bubble Burst Scenario from Dhaka Stock Exchange with Relevance to Sharpe’s Single Index Model

    Directory of Open Access Journals (Sweden)

    Javed Bin Kamal

    2012-09-01

    Full Text Available The paper aims at constructing an optimal portfolio by applying Sharpe’s single index model of capital asset pricing in different scenarios, one is ex ante stock price bubble scenario and stock price bubble and bubble burst is second scenario. Here we considered beginning of year 2010 as rise of stock price bubble in Dhaka Stock Exchange. Hence period from 2005 -2009 is considered as ex ante stock price bubble period. Using DSI (All share price index in Dhaka Stock Exchange as market index and considering daily indices for the March 2005 to December 2009 period, the proposed method formulates a unique cut off point (cut off rate of return and selects stocks having excess of their expected return over risk-free rate of return surpassing this cut-off point. Here, risk free rate considered to be 8.5% per annum (Treasury bill rate in 2009. Percentage of an investment in each of the selected stocks is then decided on the basis of respective weights assigned to each stock depending on respective ‘β’ value, stock movement variance representing unsystematic risk, return on stock and risk free return vis-à-vis the cut off rate of return. Interestingly, most of the stocks selected turned out to be bank stocks. Again we went for single index model applied to same stocks those made to the optimum portfolio in ex ante stock price bubble scenario considering data for the period of January 2010 to June 2012. We found that all stocks failed to make the pass Single Index Model criteria i.e. excess return over beta must be higher than the risk free rate. Here for the period of 2010 to 2012, the risk free rate considered to be 11.5 % per annum (Treasury bill rate during 2012.

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

    Directory of Open Access Journals (Sweden)

    Imoleayo Foyeke Obigbemi

    2010-05-01

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

  18. The Effects of the International Contract for Sale of Goods

    Directory of Open Access Journals (Sweden)

    Berlingher Daniel

    2017-06-01

    Full Text Available The contracts are the indispensable legal instruments for any economic transaction. The international sale contract is the main legal instrument by which international commerce is carried out and through which the movement of goods from producer to consumer is ensured within cross-border relations. The sale contract in international commerce is the legal act by which the parties, the seller and the buyer, belonging to different states, commit each other to transfer the property of a good in return for payment of a price. Regarding the general rules applicable to the contract of international sale of goods, they are regulated by the “United Nations Convention on Contracts for the International Sale of Goods from Vienna”. The Convention has adopted uniform rules to govern the international sale of goods contract, if the parties have not chosen expressly for the application of other rules. In this study I present the effects of international sale of goods in the light of the rules of the Vienna Convention of 1980.

  19. Energy price uncertainty, energy intensity and firm investment

    International Nuclear Information System (INIS)

    Yoon, Kyung Hwan; Ratti, Ronald A.

    2011-01-01

    This paper examines the effect of energy price uncertainty on firm-level investment. An error correction model of capital stock adjustment is estimated with data on U.S. manufacturing firms. Higher energy price uncertainty is found to make firms more cautious by reducing the responsiveness of investment to sales growth. The result is robust to consideration of energy intensity by industry. The effect is greater for high growth firms. It must be emphasized that the direct effect of uncertainty is not estimated. Conditional variance of energy price is obtained from a GARCH model. Findings suggest that stability in energy prices would be conducive to greater stability in firm-level investment. (author)

  20. Endogenous Currency of Price Setting in a Dynamic Open Economy Model

    OpenAIRE

    Michael B. Devereux; Charles Engel

    2001-01-01

    Many papers in the recent literature in open economy macroeconomics make different assumptions about the currency in which firms set their export prices when nominal prices must be pre-set. But to date, all of these studies take the currency of price setting as exogenous. This paper sets up a simple two-country general equilibrium model in which exporting firms can choose the currency in which they set prices for sales to foreign markets. We make two alternative assumptions about the structur...

  1. Does legislation to prevent alcohol sales to drunk individuals work? Measuring the propensity for night-time sales to drunks in a UK city.

    Science.gov (United States)

    Hughes, Karen; Bellis, Mark A; Leckenby, Nicola; Quigg, Zara; Hardcastle, Katherine; Sharples, Olivia; Llewellyn, David J

    2014-05-01

    By measuring alcohol retailers' propensity to illegally sell alcohol to young people who appear highly intoxicated, we examine whether UK legislation is effective at preventing health harms resulting from drunk individuals continuing to access alcohol. 73 randomly selected pubs, bars and nightclubs in a city in North West England were subjected to an alcohol purchase test by pseudo-drunk actors. Observers recorded venue characteristics to identify poorly managed and problematic (PMP) bars. 83.6% of purchase attempts resulted in a sale of alcohol to a pseudo-intoxicated actor. Alcohol sales increased with the number of PMP markers bars had, yet even in those with no markers, 66.7% of purchase attempts resulted in a sale. Bar servers often recognised signs of drunkenness in actors, but still served them. In 18% of alcohol sales, servers attempted to up-sell by suggesting actors purchase double rather than single vodkas. UK law preventing sales of alcohol to drunks is routinely broken in nightlife environments, yet prosecutions are rare. Nightlife drunkenness places enormous burdens on health and health services. Preventing alcohol sales to drunks should be a public health priority, while policy failures on issues, such as alcohol pricing, are revisited.

  2. Pricing index-based catastrophe bonds: Part 1: Formulation and discretization issues using a numerical PDE approach

    Science.gov (United States)

    Unger, André J. A.

    2010-02-01

    This work is the first installment in a two-part series, and focuses on the development of a numerical PDE approach to price components of a Bermudan-style callable catastrophe (CAT) bond. The bond is based on two underlying stochastic variables; the PCS index which posts quarterly estimates of industry-wide hurricane losses as well as a single-factor CIR interest rate model for the three-month LIBOR. The aggregate PCS index is analogous to losses claimed under traditional reinsurance in that it is used to specify a reinsurance layer. The proposed CAT bond model contains a Bermudan-style call feature designed to allow the reinsurer to minimize their interest rate risk exposure on making substantial fixed coupon payments using capital from the reinsurance premium. Numerical PDE methods are the fundamental strategy for pricing early-exercise constraints, such as the Bermudan-style call feature, into contingent claim models. Therefore, the objective and unique contribution of this first installment in the two-part series is to develop a formulation and discretization strategy for the proposed CAT bond model utilizing a numerical PDE approach. Object-oriented code design is fundamental to the numerical methods used to aggregate the PCS index, and implement the call feature. Therefore, object-oriented design issues that relate specifically to the development of a numerical PDE approach for the component of the proposed CAT bond model that depends on the PCS index and LIBOR are described here. Formulation, numerical methods and code design issues that relate to aggregating the PCS index and introducing the call option are the subject of the companion paper.

  3. Constructing Quality Adjusted Price Indexes: a Comparison of Hedonic and Discrete Choice Models

    OpenAIRE

    N. Jonker

    2001-01-01

    The Boskin report (1996) concluded that the US consumer price index (CPI) overestimated the inflation by 1.1 percentage points. This was due to several measurement errors in the CPI. One of them is called quality change bias. In this paper two methods are compared which can be used to eliminate quality change bias, namely the hedonic method and a method based on the use of discrete choice models. The underlying micro-economic fundations of the two methods are compared as well as their empiric...

  4. Navigating through the maze of pricing and affordability of branded pharmaceuticals in the midst of the financial crisis: a comparative study among five European recession countries, from a Cyprus perspective.

    Science.gov (United States)

    Petrou, Panagiotis; Talias, Michael A

    2016-01-01

    Financial recession mandated the introduction of harsh austerity measures. Health, and particularly pharmaceuticals, constitute a significant part of public expenditure and as such they have been subject to significant budget reduction and stringent policies. As a consequence of these measures, an increasing percentage of patients resort to private sector for acquisition of their prescribed pharmaceuticals, due to exclusion of public health care beneficiary status, reduction of breadth of national formularies, delays in reimbursement and excessive waiting times. Affordability for pharmaceuticals in the private sector is of paramount importance since household disposable income plummets and more people are prone to impoverishment. This is critical for branded products, whose active substance and trademark are under patent protection, since no alternative options exist while their monopoly status imply that their prices are high. The impact on affordability regarding access of patient to necessary pharmaceutical care has not been documented in developed countries. A laspeyer index was constructed to compare prices of branded pharmaceuticals and assess affordability, by adjusting price index with Gross Domestic Product Purchase Power Parity per capita. Laspeyer index compares prices based on weights, which in our study are the corresponding sales of products in Cyprus. Moreover, we define the percentage of population that will face catastrophic pharmaceutical expenditure after acquisition of one product from eight major and common therapeutic categories. We used data from five European recession countries: Italy, Portugal, Spain, Greece and Cyprus, for 48 products which were selected based on sales. Cyprus displays the highest prices for pharmaceuticals. By adjusting for Gross Domestic Product Purchase Power Parity per capita, affordability is worst for Cyprus and Portugal. As more patients have to resort to private sector for provision of adequate and timely

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

    OpenAIRE

    Wu, Xiang; Zhang, Jinlong

    2015-01-01

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

  6. Core Indicators of Japan's Consumer Price Index

    OpenAIRE

    Shigenori Shiratsuka

    2006-01-01

    The primary objective of the Bank of Japan (BOJ) in conducting monetary policy is to promote sustainable growth by achieving price stability. The price stability that needs to be achieved is regarded as not just short-term and temporary, but sustainable in the medium to long term, which is the common understanding among major central banks. To fulfill this mandate, the BOJ is required to identify the underlying trend of inflation by excluding various idiosyncratic disturbances from measured p...

  7. 27 CFR 53.92 - Exclusions from sale price.

    Science.gov (United States)

    2010-04-01

    ... item of $10 is billed as tax, $100 is the taxable selling price and $10 is the amount of tax due... transporting, in the normal course of business and for its benefit and convenience, articles from a factory or... included as a manufacturing or selling expense or is in no way incidental to placing the article in...

  8. Nonlinear Pricing to Produce Information

    OpenAIRE

    David J. Braden; Shmuel S. Oren

    1994-01-01

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

  9. Currency Substitution and The Law of One Price

    OpenAIRE

    Gabriele Camera; Johannes Winkler

    2000-01-01

    We study endogenous currency substitution in a decentralized trade environment. Sellers maximize profits from sales of imperfectly substitutable goods by posting prices in either one of two currencies. A unique symmetric equilibrium exists where goods are priced only in the local currency. This occurs if foreign trade is sporadic, there is sufficient but not excessive liquidity, and discounting is low. Excess or scarcity of liquidity, however, induces sellers to extract all surplus from buyer...

  10. The Dynamic Pricing of Next Generation Consumer Durables

    OpenAIRE

    Barry L. Bayus

    1992-01-01

    Learning curve effects, aspects of consumer demand models (e.g., reservation price distributions, intertemporal utility maximizing behavior), and competitive activity are reasons which have been offered to explain why prices of new durables decline over time. This paper presents an alternative rationale based on the buying behavior for products with overlapping replacement cycles (i.e., next generation products). A model for consumer sales of a new durable is developed by incorporating the re...

  11. 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.

  12. Legal issues in power sale contract negotiations

    International Nuclear Information System (INIS)

    Goodwin, L.M.

    1990-01-01

    The Public Utility Regulatory Policies Act of 1978 (PURPA) is the foundation of the cogeneration industry. However, few cogeneration projects could be financed on the basis of PURPA alone. PURPA guarantees project owners the right to sell power at the purchasing utility's Avoided Cost, whatever that may be from time to time. However, the development and financing of a cogeneration project requires a secure and dependable income stream, not a mere guarantee of the right to receive the spot price for power. Accordingly, developers have found that a formal power sale contract with the purchasing utility is a prerequisite to successful project development. This paper summarizes some current issues in power sale contract negotiation, with a particular emphasis on contract terms which shift risks from the utility and its ratepayers to the developer. Many of these trends originally appeared before the advent of competitive bidding systems, but most will continue to affect power sale contracts under competitive bidding, and under IPP project development as well

  13. Conference Reports: New developments affecting natural gas sales contracts

    International Nuclear Information System (INIS)

    1999-01-01

    Papers presented at a conference examining and reviewing recent trends in natural gas sales contracts are contained in this volume. Conference participants heard 14 presentations, with topics including pricing provisions in gas contracts, security of supply, cross-border issues, legislative reform of electronic data interchange, digital signatures, new developments in managing contracts in a competitive environment, the changing role of natural gas aggregators, drafting 'force majeure' clauses in natural gas purchase/sale contracts and the consequences and remedies for breach of natural gas contracts. The volume also includes biographical notes, and current addresses of the speakers

  14. Property of Fluctuations of Sales Quantities by Product Category in Convenience Stores.

    Directory of Open Access Journals (Sweden)

    Gaku Fukunaga

    Full Text Available The ability to ascertain the extent of product sale fluctuations for each store and locality is indispensable to inventory management. This study analyzed POS data from 158 convenience stores in Kawasaki City, Kanagawa Prefecture, Japan and found a power scaling law between the mean and standard deviation of product sales quantities for several product categories. For the statistical domains of low sales quantities, the power index was 1/2; for large sales quantities, the power index was 1, so called Taylor's law holds. The value of sales quantities with changing power indixes differed according to product category. We derived a Poissonian compound distribution model taking into account fluctuations in customer numbers to show that the scaling law could be explained theoretically for most of items. We also examined why the scaling law did not hold in some exceptional cases.

  15. Property of Fluctuations of Sales Quantities by Product Category in Convenience Stores.

    Science.gov (United States)

    Fukunaga, Gaku; Takayasu, Hideki; Takayasu, Misako

    2016-01-01

    The ability to ascertain the extent of product sale fluctuations for each store and locality is indispensable to inventory management. This study analyzed POS data from 158 convenience stores in Kawasaki City, Kanagawa Prefecture, Japan and found a power scaling law between the mean and standard deviation of product sales quantities for several product categories. For the statistical domains of low sales quantities, the power index was 1/2; for large sales quantities, the power index was 1, so called Taylor's law holds. The value of sales quantities with changing power indixes differed according to product category. We derived a Poissonian compound distribution model taking into account fluctuations in customer numbers to show that the scaling law could be explained theoretically for most of items. We also examined why the scaling law did not hold in some exceptional cases.

  16. Decomposing the sales promotion bump accounting for cross-category effects

    NARCIS (Netherlands)

    Leeflang, Peter S. H.; Selva, Josefa Parreno; Wittink, Dick R.; Dijk, Albertus Alard van

    Extant research on the decomposition of unit sales bumps due to price promotions considers these effects only within a single product category. This article introduces a framework that accommodates specific cross-category effects. Empirical results based on daily data measured at the item/SKU level

  17. Relationship between performance measurements and sale price of ...

    African Journals Online (AJOL)

    Unknown

    The main advantage is that the buyer is purchasing a ram that has been selected for traits of economic importance and is adapted to the specific environment in which it is expected to perform. The aim of this study was to determine the extent to which the performance of animals in a veld-ram club influences the price buyers ...

  18. Food and beverage price discounts to improve health in remote Aboriginal communities: mixed method evaluation of a natural experiment.

    Science.gov (United States)

    Ferguson, Megan; O'Dea, Kerin; Holden, Stacey; Miles, Eddie; Brimblecombe, Julie

    2017-02-01

    Retrospectively evaluate food price discounts in remote Aboriginal community stores. Four price discount strategies of 10% were designed in 2010, aiming to influence grocery, fruit, vegetables and diet soft-drink sales. This natural experiment across a group of stores was evaluated using an explanatory, sequential mixed method design through analysis of store point-of-sale, document, observation and interview data. The outcome was measured by change in: 1) percentage of grocery sales to total food and beverage; 2) fruit and vegetable sales; and 3) diet soft-drink sales. Qualitative data enabled the interpretation of outcomes through understanding perceived success and benefits, and enablers and barriers to implementation. Eighteen community stores and 54 informants participated. While targeted price discounts were considered important to improving health, no discernible effect was evident, due to inadequate design and communication of discount promotion, and probably inadequate magnitude of discount. Strategy impact on food and beverage sales was limited by promotion and magnitude of discount. Implication for Public Health: This study demonstrates key factors and commitment required to design, communicate, implement and monitor strategies to improve health in this challenging remote retail context. Evaluation of natural experiments can contribute evidence to policy-making. © 2016 The Authors.

  19. Fuzzy Optimization of Option Pricing Model and Its Application in Land Expropriation

    Directory of Open Access Journals (Sweden)

    Aimin Heng

    2014-01-01

    Full Text Available Option pricing is irreversible, fuzzy, and flexible. The fuzzy measure which is used for real option pricing is a useful supplement to the traditional real option pricing method. Based on the review of the concepts of the mean and variance of trapezoidal fuzzy number and the combination with the Carlsson-Fuller model, the trapezoidal fuzzy variable can be used to represent the current price of land expropriation and the sale price of land on the option day. Fuzzy Black-Scholes option pricing model can be constructed under fuzzy environment and problems also can be solved and discussed through numerical examples.

  20. Improving The Restaurant Product Sale: A Case Study at a Hotel in Surabaya

    Directory of Open Access Journals (Sweden)

    Mohamad Yusak Anshori

    2012-12-01

    Full Text Available Increasing a product sale is very important especially for the hotel with its products and services. The objective of this study is to examine the effect of Nasi Goreng Jancuk (Nasgorcuk marketing mix on its selling improvement. The increasing of Surabaya Plaza Hotel’s Nasgorcuk lovers is based on strategic product marketing efforts conforming very fast communication development in which youths involvement very dominantly affects the success of a brand image. The fundamental marketing strategies consist of promotion, price, location; persons, physical evidence and process are inherent attributes of the success of Surabaya Plaza Hotel’s Nasgorcuk. The findings show that price, loca-tion, and physical evidence are the most influential attributes of the increased sale of Nasgorcuk.

  1. Improving The Restaurant Product Sale: A Case Study at a Hotel in Surabaya

    Directory of Open Access Journals (Sweden)

    Mohamad Yusak Anshori

    2012-12-01

    Full Text Available Increasing a product sale is very important especially for the hotel with its products and services. The objective of this study is to examine the effect of Nasi Goreng Jancuk (Nasgorcuk marketing mix on its selling improvement. The increasing of Surabaya Plaza Hotel’s Nasgorcuk lovers is based on strategic product marketing efforts conforming very fast communication development in which youths involvement very dominantly affects the success of a brand image. The fundamental marketing strategies consist of promotion, price, location; persons, physical evidence and process are inherent attributes of the success of Surabaya Plaza Hotel’s Nasgorcuk. The findings show that price, location, and physical evidence are the most influential attributes of the increased sale of Nasgorcuk.

  2. Improving The Restaurant Product Sale: A Case Study At A Hotel In Surabaya

    Directory of Open Access Journals (Sweden)

    Mohamad Yusak Anshori

    2015-08-01

    Full Text Available Increasing a product sale is very important especially for the hotel with its products and services. The objective of this study is to examine the effect of Nasi Goreng Jancuk (Nasgorcuk marketing mix on its selling improvement.The increasing of Surabaya Plaza Hotel’s Nasgorcuk lovers is based on strategic product marketing efforts conforming very fast communication development in which youths involvement very dominantly affects the success of a brand image. The fundamental marketing strategies consist of promotion, price, location; persons, physical evidence and process are inherent attributes of the success of Surabaya Plaza Hotel’s Nasgorcuk. The findings show that price,location, and physical evidence are the most influential attributes of the increased sale of Nasgorcuk.Keywords:Marketing Mix, Marketing, Consumer Behavior

  3. Unit Price Scaling Trends for Chemical Products

    Energy Technology Data Exchange (ETDEWEB)

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

    2015-08-01

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

  4. Flex cars and the alcohol price

    International Nuclear Information System (INIS)

    Ferreira, Alex Luiz; Da Silveira, Jaylson Jair; De Almeida Prado, Fernando Pigeard

    2009-01-01

    We build a model that incorporates the effect of the innovative 'flex' car, an automobile that is able to run with either gasoline or alcohol, on the dynamics of fuel prices in Brazil. Our model shows that differences regarding fuel prices will now depend on the proportions of alcohol, gasoline and flex cars in the total stock. Conversely, the demand for each type of car will also depend on the expected future prices of alcohol and gasoline (in addition to the car prices). The model reflects our findings that energy prices are tied in the long run and that causality runs stronger from gasoline to alcohol. The estimated error correction parameter is stable, implying that the speed of adjustment towards equilibrium remains unchanged. The latter result is probably due to a still small fraction of flex cars in the total stock (approx. 5%), despite the fact that its sales nearly reached 100% in 2006. (author)

  5. How Should they Affect Pricing Decisions? Difficult Comparison Effect

    Directory of Open Access Journals (Sweden)

    Angela Eliza MICU

    2007-01-01

    Full Text Available In most companies, there is ongoing conflict between managers in charge of covering costs (finance and accounting and managers in charge of satisfying customers (marketing and sales. Accounting journals warn against prices that fail to cover full costs, while marketing journals argue that customer willingness-to-pay must be the sole driver of prices. The conflict between these views wastes company resources and leads to pricing decisions that are imperfect compromises. Profitable pricing involves an integration of costs and customer value. To achieve that integration, however, both need to let go of misleading ideas and form a common vision of what drives profitability.

  6. Stop Misusing Higher Education-Specific Price Indices

    Science.gov (United States)

    Gillen, Andrew; Robe, Jonathan

    2011-01-01

    In order to compare the price of things over time, it is necessary to use a price index to adjust for inflation. The Higher Education Price Index (HEPI) and the Higher Education Cost Adjustment (HECA) were designed to more accurately account for the spending patterns of colleges and universities. However, there are some methodological problems…

  7. OPEC's optimal crude oil price

    International Nuclear Information System (INIS)

    Horn, Manfred

    2004-01-01

    OPEC decided to stabilise oil prices within a range of 22-28 US Dollar/barrel of crude oil. Such an oil-price-level is far beyond the short and long run marginal costs of oil production, beyond even that in regions with particularly high costs. Nevertheless, OPEC may achieve its goal if world demand for oil increases substantially in the future and oil resources outside the OPEC are not big enough to accordingly increase production. In this case OPEC, which controls about 78% of world oil reserves, has to supply a large share of that demand increase. If we assume OPEC will behave as a partial monopolist on the oil market, which takes into consideration the reaction of the other producers to its own sales strategy, it can reach its price target. Lower prices before 2020 are probable only if the OPEC cartel breaks up. Higher prices are possible if production outside OPEC is inelastic as assumed by some geologists, but they would probably stimulate the production of unconventional oil based on oil sand or coal. Crude oil prices above 30 US Dollar/barrel are therefore probably not sustainable for a long period. (Author)

  8. Pricing Decisions of a Dual-Channel Supply Chain considering Supply Disruption Risk

    Directory of Open Access Journals (Sweden)

    Yancong Zhou

    2018-01-01

    Full Text Available Supply disruption may cause strong complaints of customers, which is a cost loss for the firms in the supply chain. Obviously, if realizing that there is the disruption risk, the members in a supply chain will adjust their decisions. For analyzing the influence, we consider a popular supply chain mode with dual channels, where one manufacturer has its direct sales channel and one traditional retailer channel. The manufacturer may suffer a supply disruption so that all ordered products by the retailer or the direct retail channel will be lost, and the members in supply chain will bear the corresponding disruption penalty from the customers. By considering four structures with different market power relations, the closed-form optimal price decisions of the four models are given. We found that the disruption factor improves the sales prices for any member structure as compared to the supply chain without the disruption. And the direct retail prices in the different modes are the same as each other, but the price of the traditional channel is influenced by the market share. And the sorts of the sales prices under different structures are given. We also conduct some extensive numerical analysis and compare the results under different structures. We observe that the expected optimal profits of considering the external penalty are smaller than those of no external penalty, and we give a sort of the optimal expected profits. And we also provide the effects of some parameters on the optimal decisions and the optimal expected profits.

  9. Generics Pricing: The Greek Paradox.

    Science.gov (United States)

    Karafyllis, Ioannis; Variti, Lamprini

    2017-01-01

    This paper explains and develops a methodological framework to help evaluate the performance of generic pharmaceutical policies and the correct evaluation of generics sales. Until today erroneous recording of generics does not help proper pricing and their penetration in the Greek market. This classifies Greece on the outliners in every study or comparison that is referred on papers or studies.

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

    Science.gov (United States)

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

    2014-12-01

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

  11. Asset pricing with index investing

    OpenAIRE

    Georgy Chabakauri; Oleg Rytchkov

    2014-01-01

    We provide a novel theoretical analysis of how index investing affects capital market equilibrium. We consider a dynamic exchange economy with heterogeneous investors and two Lucas trees and find that indexing can either increase or decrease the correlation between stock returns and in general increases (decreases) volatilities and betas of stocks with larger (smaller) market capitalizations. Indexing also decreases market volatility and interest rates, although those effects are weak. The im...

  12. Comparison of vector autoregressive (VAR) and vector error correction models (VECM) for index of ASEAN stock price

    Science.gov (United States)

    Suharsono, Agus; Aziza, Auliya; Pramesti, Wara

    2017-12-01

    Capital markets can be an indicator of the development of a country's economy. The presence of capital markets also encourages investors to trade; therefore investors need information and knowledge of which shares are better. One way of making decisions for short-term investments is the need for modeling to forecast stock prices in the period to come. Issue of stock market-stock integration ASEAN is very important. The problem is that ASEAN does not have much time to implement one market in the economy, so it would be very interesting if there is evidence whether the capital market in the ASEAN region, especially the countries of Indonesia, Malaysia, Philippines, Singapore and Thailand deserve to be integrated or still segmented. Furthermore, it should also be known and proven What kind of integration is happening: what A capital market affects only the market Other capital, or a capital market only Influenced by other capital markets, or a Capital market as well as affecting as well Influenced by other capital markets in one ASEAN region. In this study, it will compare forecasting of Indonesian share price (IHSG) with neighboring countries (ASEAN) including developed and developing countries such as Malaysia (KLSE), Singapore (SGE), Thailand (SETI), Philippines (PSE) to find out which stock country the most superior and influential. These countries are the founders of ASEAN and share price index owners who have close relations with Indonesia in terms of trade, especially exports and imports. Stock price modeling in this research is using multivariate time series analysis that is VAR (Vector Autoregressive) and VECM (Vector Error Correction Modeling). VAR and VECM models not only predict more than one variable but also can see the interrelations between variables with each other. If the assumption of white noise is not met in the VAR modeling, then the cause can be assumed that there is an outlier. With this modeling will be able to know the pattern of relationship

  13. A model of the prescription-pharmaceutical sales process

    Directory of Open Access Journals (Sweden)

    Michael Stros

    2018-06-01

    Full Text Available The purpose of this paper is to determine the factors in marketing most relevant to achieving pharmaceutical sales success and their interrelations, as well as providing a prescription-pharmaceuticals sales process model. This will enable scholars to obtain a better understanding of the marketing process for prescription pharmaceuticals, as well as enabling marketers to apply more efficient marketing approaches. The study uses a unique data set, combining primary data and secondary data from the Swiss prescription-pharmaceuticals market. The data is analysed using a multiple-regression based model. A multi-level data structure is found, suggesting that factors concerning the specific brand and also the pharmaceutical substance itself are relevant to sales success. It is revealed that the factors most relevant to sales success are: order of market entry, perceived product-quality, average price, and marketing expenditures, leading to practical recommendations for scholars and marketing professionals. The study focuses only on the Swiss prescription-pharmaceuticals market, investigating five medical drug classes. The assumption is made that these results can be generalised to similar markets and drug classes. The study develops a conceptual prescription-pharmaceuticals sales-process model; offers practical guidelines and a good basis for further scholarly research are provided; and identifies several research gaps by giving proposals for future research.

  14. Cuba's transition to market-based energy prices

    International Nuclear Information System (INIS)

    Perez-Lopez, J.F.

    1992-01-01

    Since 1960 the Soviet Union has been, for all practical purposes, Cuba's exclusive supplier of energy products. For certain time periods, Soviet sales of oil and oil products to Cuba were made at concessional prices; prior to 1991, they were priced using transferable rubles and were essentially bartered for Cuban goods, especially sugar. Effective January 1, 1991, the Soviet Union shifted to world market prices and convertible currency payments for all traded commodities, including energy products. The shift to market prices and convertible currencies in Cuban-Soviet energy trade has already brought - or is likely to bring - a number of adjustments in four areas: (1) the trade balance; (2) the ability to reexport oil and oil products; (3) energy consumption patterns; (4) and the structure of energy supplies. 33 refs., 8 tabs

  15. 77 FR 42365 - Price for the Making American History Coin and Currency Set

    Science.gov (United States)

    2012-07-18

    ... DEPARTMENT OF THE TREASURY United States Mint Price for the Making American History Coin and... States Mint is announcing a price of $72.95 for the Making American History Coin and Currency Set. FOR FURTHER INFORMATION CONTACT: B.B. Craig, Associate Director for Sales and Marketing; United States Mint...

  16. Forest owners' timber sales satisfaction

    International Nuclear Information System (INIS)

    Pammo, R.; Ripatti, P.

    2003-01-01

    The TTS Institute has carried out a study concerning forest owners' timber sales. The material was collected in 2002 via a mail inquiry that targeted forest owners who sold timber during the years 1997-1999 and 1999-2002. Three quarters of the forest owners sold timber to the same timber buying company during both periods of 1997-1999 and 1999-2002. The most important reasons for selling to the same buyer were that they purchased all timber assortments, reliability and good timber price. Mainly the same reasons also applied when changing the timber buying company. The most sensitive groups to changing timber buyer were 60-69 year old, entrepreneurs, men, and owners of forest holdings between 20-29 hectares, owners of inherited forests and joint forest ownerships. The forest owners assessed the timber buying company's operations and its staff on the basis of the last timber sale. The forest owners gave best values for the timber buyer's reliability, the purchase of all timber assortments and the timber buyers' reputation. The worst values were given for cross-cutting and response to complaints. No less than 95 percent of forest owners were prepared to recommend their timber trade partner to acquaintances, friends or other forest owners. Yet only half of the forest owners recognized that their last timber sale experience would not affect which company will be selected for the nest timber sale process

  17. Strategic Generation with Conjectured Transmission Price Responses in a Mixed Transmission Pricing System. Part 1. Formulation

    International Nuclear Information System (INIS)

    Hobbs, B.F.; Rijkers, F.A.M.

    2004-05-01

    The conjectured supply function (CSF) model calculates an oligopolistic equilibrium among competing generating companies (GenCos), presuming that GenCos anticipate that rival firms will react to price increases by expanding their sales at an assumed rate. The CSF model is generalized here to include each generator's conjectures concerning how the price of transmission services (point-to-point service and constrained interfaces) will be affected by the amount of those services that the generator demands. This generalization reflects the market reality that large producers will anticipate that they can favorably affect transmission prices by their actions. The model simulates oligopolistic competition among generators while simultaneously representing a mixed transmission pricing system. This mixed system includes fixed transmission tariffs, congestion-based pricing of physical transmission constraints (represented as a linearized dc load flow), and auctions of interface capacity in a path-based pricing system. Pricing inefficiencies, such as export fees and no credit for counterflows, can be simulated. The model is formulated as a linear mixed complementarity problem, which enables very large market models to be solved. In the second paper of this two-paper series, the capabilities of the model are illustrated with an application to northwest Europe, where transmission pricing is based on such a mixture of approaches

  18. Central Gulf of Mexico lease sale draws weak industry response

    International Nuclear Information System (INIS)

    Koen, A.D.

    1992-01-01

    This paper reports that interest in oil and gas leases in the Gulf of Mexico continued spiraling downward at the latest Minerals Management Service offshore sale. Companies participating in Outer Continental Shelf Sale 139 last week in New Orleans offered 196 bids for 151 blocks in the central Gulf of Mexico. MMS offered 5,213 blocks for lease. The number of tracts receiving bids was the fewest at a central gulf lease sale since 114 tracts garnered high bids totaling $146.4 million at Sale 104 in April 1986. Apparent high bids in Sale 139 totaled $56,195,552, and all bids offered totaled just $65,300,864. Both bidding totals were the lowest in a Gulf of Mexico lease sale since MMS began area-wide gulf leasing at Sale 72 in May 1983. Only 64 of 93 qualified companies participated in Sale 139. Fifty-five companies offered apparent winning bids. By comparison, 123 companies at central gulf lease Sale 131 in March 1991 offered 637 bids totaling $320.5 million for 464 tracts. Apparent high bids last spring totaled $259.9 million. At central gulf lease Sale 123 in March 1990, high bids totaled $427.4 million for 538 tracts. In that sale, BP Exploration Inc. led all bidders, exposing $78 million in 79 high bids, including 60 for deepwater tracts. Since then, interest in deepwater tracts has waned in part because of sagging oil and gas prices as U.S. operators sought bigger prospects outside the U.S. Ironically, Sale 139 was dominated by the U.S. subsidiary of an Italian holding company

  19. IPhone or Kindle: Competition of Electronic Books Sales

    Science.gov (United States)

    Chen, Li

    With the technical development of the reading equipment, e-books have witnessed a gradual and steady increase in sales in recent years. Last year, smart phones announced to be able to perform additional functions as e-book reading devices, making it possible for retailers selling e-books for smart phones (SPR) such as iPhone to differentiate with those selling e-books for specific reading equipment (SER) such as Amazon Kindle. We develop a game theory model to examine the competition between SER and SPR retailers. We derive the equilibrium price and analyze the factors that affect equilibrium outcomes under both scenarios of complete and incomplete information. Our results suggest that reduced cost due to inconvenience of reading e-books over iPhone lowers equilibrium prices, and reduced cost of specific reading equipment leads to more intense price competition. Under information asymmetry, we show that SER retailers will increase the price at equilibrium.

  20. Spot sale of uncommitted LNG from Middle East: Japan or the UK?

    International Nuclear Information System (INIS)

    Nikhalat-Jahromi, Hamed; Bell, Michael G.H.; Fontes, Dalila B.M.M.; Cochrane, Robert A.; Angeloudis, Panagiotis

    2016-01-01

    The importance of liquefied natural gas (LNG) is rising as demand for it grows rapidly and steadily due to growth in energy demand, the transition to a low carbon economy and the longer distances over which natural gas is now traded. Given its importance, this work proposes an optimization model that assists to decide on when and where LNG should be delivered by coordinating tanker type, assignment and routing, inventory management, contract obligations, arbitrage and uncommitted LNG. The model maximizes the profit mainly by taking advantage of price differences between different markets. The contributions of this work are twofold. First, following the analysis of expenses and revenues, a new mixed integer programming model for LNG liquefaction and shipping is proposed from a corporate finance perspective. Furthermore, a solution approach for it is implemented and tested. Second, the model is used to derive a short term trade policy for the Middle Eastern LNG producers regarding the spot sale of their uncommitted product to Japan or to the UK, namely to: dispatch to whichever market has the higher current spot price, regardless of the variability of the transport expenses. - Highlights: •The cash-flow of an LNG producer in operational planning is examined. •An LNG inventory routing problem for EBITDA maximization is formulated. •A project in Middle East for studying the spot sale of uncommitted LNG is created. •In sale to Japan and the UK the market with the higher price should be picked.

  1. Developing Models to Forcast Sales of Natural Christmas Trees

    Science.gov (United States)

    Lawrence D. Garrett; Thomas H. Pendleton

    1977-01-01

    A study of practices for marketing Christmas trees in Winston-Salem, North Carolina, and Denver, Colorado, revealed that such factors as retail lot competition, tree price, consumer traffic, and consumer income were very important in determining a particular retailer's sales. Analyses of 4 years of market data were used in developing regression models for...

  2. Initial Northwest Power Act Power Sales Contracts : Final Environmental Impact Statement. Volume 3, Appendix M, Contract Copies.

    Energy Technology Data Exchange (ETDEWEB)

    United States. Bonneville Power Administration.

    1992-01-01

    This report, is part of the final environmental impact statement of the Bonneville Power Administration, consists of an appendix of contract copies related to the following: Detailed Index to Generic Utility Power Sales Contracts, Text of Generic Utility Contract, Detailed Index to Generic DSI Power Sales Contracts, Text of Generic DSI Contract, Text of Residential Purchase and Sale Agreement (Residential Exchange), and Detailed Index to General Contract Provisions -- GCP Form PSC-2 (Incorporated into all three types of contracts as an Exhibit).

  3. Motor vehicle stocks, scrappage, and sales

    OpenAIRE

    Alan Greenspan; Darrel Cohen

    1996-01-01

    This paper offers a framework for forecasting aggregate sales of new motor vehicles; this framework incorporates separate models for the change in the vehicle stock and for the rate of vehicle scrappage. Because this approach requires only a minimal set of assumptions about demographic trends, the state of the economy, consumer ''preferences,'' new vehicle prices and repair costs, and vehicle retirements, it is shown to be especially useful as a macroeconomic forecasting tool. In addition, th...

  4. Natural gas prices in the Maritimes : an energy market assessment

    International Nuclear Information System (INIS)

    2004-03-01

    The National Energy Board monitors the supply and price of natural gas in the Maritimes. This report contains the results and analysis of a survey of the wholesale natural gas prices paid by Canadian buyers in the Maritimes from November 2002 to October 2003. The objective of the report is to improve the understanding of the market factors that influence wholesale natural gas prices in the Maritimes. A comparative evaluation of domestic and export prices shows that Canadian buyers have had access to gas at prices similar to the export market at St. Stephen, New Brunswick. Since the number of participants in the domestic market is low, only four large buyers have a major impact on average prices in the region. The challenge for small buyers will be to buy gas from others who can divert some of their own sales of use. However, these sellers may not want to over-commit to new firm sales in case they have to re-purchase the gas during shortages that may occur due to fluctuations in production or shipping. It was noted that a new gas supply into the region would support many buyers and sellers, and could lead to a more transparent Maritime natural gas market. The National Energy Board is satisfied that the Maritime natural gas market is currently performing as well as can be expected, given its young stage of development. 1 tab., 8 figs., 1 appendix

  5. 77 FR 32716 - Price for the 2012 American Eagle San Francisco Two-Coin Silver Proof Set

    Science.gov (United States)

    2012-06-01

    ... DEPARTMENT OF THE TREASURY United States Mint Price for the 2012 American Eagle San Francisco Two...: The United States Mint is announcing the price of the 2012 American Eagle San Francisco Two-Coin Silver Proof Set. The coin set will be offered for sale at a price of $149.95. FOR FURTHER INFORMATION...

  6. Towards a Framework for Knowledge-based Pricing Services Improving Operational Agility in the Retail Industry

    OpenAIRE

    Kowatsch, Tobias; Maass, Wolfgang

    2009-01-01

    Marketing research has identified several benefits of dynamic pricing models. For example, dynamic pricing in terms of inventory considerations and time horizons, bundling or personalized offerings has been found to increase sales volume, customer satisfaction and to skim reservation prices. However, today's retailers lack the capability to apply dynamic pricing models because of missing services that realize them and technologies such as smart product infrastructures that deliver the resu...

  7. Optimal dynamic pricing and replenishment policy for perishable items with inventory-level-dependent demand

    Science.gov (United States)

    Lu, Lihao; Zhang, Jianxiong; Tang, Wansheng

    2016-04-01

    An inventory system for perishable items with limited replenishment capacity is introduced in this paper. The demand rate depends on the stock quantity displayed in the store as well as the sales price. With the goal to realise profit maximisation, an optimisation problem is addressed to seek for the optimal joint dynamic pricing and replenishment policy which is obtained by solving the optimisation problem with Pontryagin's maximum principle. A joint mixed policy, in which the sales price is a static decision variable and the replenishment rate remains to be a dynamic decision variable, is presented to compare with the joint dynamic policy. Numerical results demonstrate the advantages of the joint dynamic one, and further show the effects of different system parameters on the optimal joint dynamic policy and the maximal total profit.

  8. 5 CFR 591.217 - In which outlets does OPM collect prices?

    Science.gov (United States)

    2010-01-01

    ... data collection areas, accessibility by road, physical size, advertising, and other characteristics that reflect sales volume. To the extent practical, OPM prices like items in the same types of outlets...

  9. The economic cost of fuel price subsidies in Ghana

    Science.gov (United States)

    Ofori, Roland Oduro

    I adapt the Harberger formula for deadweight loss to develop approximations for the deadweight loss created by multiple fuel price subsidies. I also estimate the own-price, cross-price, and income elasticities of demand for gasoline and diesel in Africa. I use data on fuel prices and sales in combination with my formulas and elasticity estimates to calculate the deadweight loss of fuel price subsidies in Ghana from 2009 to 2014. I show that the average efficiency cost of the gasoline and diesel price subsidies in Ghana is 0.8% of fuel price subsidy transfers. This result stresses the futility of basing subsidy reforms on economic efficiency losses, which are relatively small due to very inelastic energy demand, and the need for such reforms to be motivated by the poor-targeting of subsidies to low-income households and the impact of subsidies on government debt-financing.

  10. Joint slot allocation and dynamic pricing of container sea–rail multimodal transportation

    Directory of Open Access Journals (Sweden)

    Di Liu

    2015-06-01

    Full Text Available The container sea–rail multimodal transport system faces complex challenges with demand uncertainties for joint slot allocation and dynamic pricing. The challenge is formulated as a two-stage optimal model based on revenue management (RM as actual slots sale of multi-node container sea–rail multimodal transport usually includes contract sale to large shippers and free sale to scattered shippers. First stage in the model utilizes an origin-destination control approach, formulated as a stochastic integer programming equation, to settle long-term slot allocation in the contract market and empty container allocation. Second stage in the model is formulated as a stochastic nonlinear programming equation to solve a multiproduct joint dynamic pricing and inventory control problem for price settling and slot allocation in each period of free market. Considering the random nature of demand, the methods of chance constrained programming and robust optimization are utilized to transform stochastic models into deterministic models. A numerical experiment is presented to verify the availability of models and solving methods. Results of considering uncertain/certain demand are compared, which show that the two-stage optimal strategy integrating slot allocation with dynamic pricing considering random demand is revealed to increase the revenue for multimodal transport operators (MTO while concurrently satisfying shippers' demand. Research resulting from this paper will contribute to the theory and practice of container sea–rail multimodal transport revenue management and provide a scientific decision-making tool for MTO.

  11. Becker's rational addiction theory: An empirical test with price elasticities for distilled spirits in Denmark 1911-31.

    Science.gov (United States)

    Skog, Ole-Jørgen; Melberg, Hans Olav

    2006-10-01

    To test an implication of Becker's rational addiction theory, namely that price changes will lead both to simultaneous consumption changes as well as lagged changes (and potentially also immediate changes if future changes in prices are anticipated). Time-series analysis, first of aggregate sales of distilled spirits and prices, controlled for gross national product (GNP), and secondly of deaths from delirium tremens. Denmark 1911-31. Price changes were very large in the period 1916-18 due to shortages during World War I, and the Danish case can be conceived as a natural experiment. No evidence for lagged price effects in the expected direction was found. On the contrary, the evidence pointed in the opposite direction. The immediate reduction in sales following rising prices are, to some degree, counteracted by an adjustment in the opposite direction the following year. The delirium tremens data confirm this pattern. Becker's theory is not confirmed. Several possible explanations are discussed. If the pattern observed in these data is representative of a more general mechanism, current price elasticity estimates may be too high, by ignoring lagged compensatory effects.

  12. 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.

  13. Reexamining the Impact of Employee Relocation Assistance on Housing Prices

    OpenAIRE

    Marcus T. Allen; Ronald C. Rutherford; Thomas M. Springer

    1997-01-01

    In this paper, we reexamine the issue of whether corporate relocation assistance programs for transferred employees significantly affect sale prices of single-family homes. We estimate a hedonic price equation that includes physical housing characteristics, location factors, occupancy status, and type of seller for a sample of 2,441 transactions. Seller types include (a) transferred employees who were given direct relocation assistance, (b) transferred employees who were not given direct relo...

  14. USE OF THE INSTRUMENTS OF SALES IMPROVEMENT IN THE NEIGHBOURHOOD STORES

    Directory of Open Access Journals (Sweden)

    Sandra Mrvica MAĐARAC

    2017-05-01

    Full Text Available The retail market in the Republic of Croatia has considerably changed during several last years by entering of large European hypermarkets and by opening a great number of shopping centres. This particularly affected the business of small independent retailers that are due to price uncompetitiveness difficult to cope with competition from hypermarkets. Sales success depends itself on the success of marketing program of a company. Improving sales brings a whole range of benefits to both producers and consumers and consists of a set of different incentives that are mainly short-term, designed to encourage faster and greater purchasing of certain products or services. Through well thought entrepreneurial approach and the use of methods for improving sales, neighbourhood stores could contribute through their business strategy to their competitiveness. Gaining customer loyalty, creating a personal relationship with customers, rewarding of loyal customers, promoting new products, helping the buyer in purchasing are some of the ways of improving neighbourhood store sales. The paper presents research results to which extent neighborhood stores in Osijek-Baranya County use instruments of sales improvement in order to enhance their sales and relationship with customers.

  15. New problem with sales, inventories, and operations planning in a supply chain environment

    Science.gov (United States)

    Thomas, Andre; Lamouri, Samir

    2000-10-01

    The highest level of planning and control system is necessary, because production and logistics systems are not so flexible to follow, from day to day, sales evolutions. The companies are therefore held to standardize the good practices concerning the elaboration of their Sales, Inventories and Operations Planning (SIOP). The SIOP makes it possible to implement the strategic objectives defined by Top Management at the time of the Business Plan. It is the link between sales and manufacturing planning. The objectives of each of those depend on the specificity of their trade: the Sales Department will go for a maximum sales whereas Production will endeavor to keep industrial cost prices as low as possible while the Finance Department will try to optimize the use of available funds. There are several tools for this optimization: Graphical method and linear programming. Today, the economic context requires robust optimization.

  16. Sales will jump 13% during '72

    Energy Technology Data Exchange (ETDEWEB)

    1972-10-16

    Canadian natural gas sales are expected to increase by 13% this year to average 5,875 MMcfd with a growth of 680 MMcfd from 1971. A gain is predicted of about 1% in the domestic market with demand reaching 3,055 MMcfd--more than 1.1 trillion cu ft--paced by consumption in the industrial and commercial segments. Export sales will climb to 2,850 MMcfd with an increase of 14.5% as U.S. purchasers take close to the total authorized permit volumes, which at the end of the year will amount to about 2,930 MMcfd. Export sales will be pegged at this figure until the National Energy Board determines that there is a surplus supply of gas over and above future Canadian requirements available for U.S. purchasers. There are no applications currently before the board and possibly the next one will be made by Canadian Arctic Gas Study Ltd. to move MacKenzie Delta gas to S. markets. The 2 major problems looming over the natural gas industry are those of price and reserves, and both appear capable of solution within a few years.

  17. 77 FR 46391 - Notice of Preliminary Determination of Sales at Less Than Fair Value and Postponement of Final...

    Science.gov (United States)

    2012-08-03

    ... subheadings are provided for convenience and customs purposes, the written description of the merchandise... facts available), because the margin was based on another company's uncharacteristic business expense... exporter. A. LG With respect to EP sales, we based the starting price on the packed prices to unaffiliated...

  18. Effects of beverage alcohol price and tax levels on drinking: a meta-analysis of 1003 estimates from 112 studies.

    Science.gov (United States)

    Wagenaar, Alexander C; Salois, Matthew J; Komro, Kelli A

    2009-02-01

    We conducted a systematic review of studies examining relationships between measures of beverage alcohol tax or price levels and alcohol sales or self-reported drinking. A total of 112 studies of alcohol tax or price effects were found, containing 1003 estimates of the tax/price-consumption relationship. Studies included analyses of alternative outcome measures, varying subgroups of the population, several statistical models, and using different units of analysis. Multiple estimates were coded from each study, along with numerous study characteristics. Using reported estimates, standard errors, t-ratios, sample sizes and other statistics, we calculated the partial correlation for the relationship between alcohol price or tax and sales or drinking measures for each major model or subgroup reported within each study. Random-effects models were used to combine studies for inverse variance weighted overall estimates of the magnitude and significance of the relationship between alcohol tax/price and drinking. Simple means of reported elasticities are -0.46 for beer, -0.69 for wine and -0.80 for spirits. Meta-analytical results document the highly significant relationships (P price measures and indices of sales or consumption of alcohol (aggregate-level r = -0.17 for beer, -0.30 for wine, -0.29 for spirits and -0.44 for total alcohol). Price/tax also affects heavy drinking significantly (mean reported elasticity = -0.28, individual-level r = -0.01, P prices and taxes are related inversely to drinking. Effects are large compared to other prevention policies and programs. Public policies that raise prices of alcohol are an effective means to reduce drinking.

  19. Competitive Reactions and the Cross-Sales Effects of Advertising and Promotion

    NARCIS (Netherlands)

    J-B.E.M. Steenkamp (Jan-Benedict); V.R. Nijs; D.M. Hanssens (Dominique); M.G. Dekimpe (Marnik)

    2002-01-01

    textabstractHow do competitors react to each other's price-promotion and advertising actions? How do these reactions influence the net sales impact we observe? We answer these questions by performing a large-scale empirical study of the short-run and long-run reactions to promotion and advertising

  20. Pepsi and Coca Cola in Delhi, India: availability, price and sales.

    OpenAIRE

    Taylor, FC; Satija, A; Khurana, S; Singh, G; Ebrahim, S

    2010-01-01

    : India is experiencing increased consumption of sugar-sweetened carbonated drinks, consumption that may be associated with increased risk of type 2 diabetes and obesity. The aim of the study was to determine the availability, price and quantity sold of 'Pepsi' and 'Coca Cola' in their 'regular' and 'diet' forms in Delhi and London. : A questionnaire about the availability, price and quantity sold per day of both regular and diet Pepsi and Coca Cola was devised and piloted. Using this, a surv...

  1. Identifying Financially Sustainable Pricing Interventions to Promote Healthier Beverage Purchases in Small Neighborhood Stores.

    Science.gov (United States)

    Nau, Claudia; Kumanyika, Shiriki; Gittelsohn, Joel; Adam, Atif; Wong, Michelle S; Mui, Yeeli; Lee, Bruce Y

    2018-01-25

    Residents of low-income communities often purchase sugar-sweetened beverages (SSBs) at small, neighborhood "corner" stores. Lowering water prices and increasing SSB prices are potentially complementary public health strategies to promote more healthful beverage purchasing patterns in these stores. Sustainability, however, depends on financial feasibility. Because in-store pricing experiments are complex and require retailers to take business risks, we used a simulation approach to identify profitable pricing combinations for corner stores. The analytic approach was based on inventory models, which are suitable for modeling business operations. We used discrete-event simulation to build inventory models that use data representing beverage inventory, wholesale costs, changes in retail prices, and consumer demand for 2 corner stores in Baltimore, Maryland. Model outputs yielded ranges for water and SSB prices that increased water demand without loss of profit from combined water and SSB sales. A 20% SSB price increase allowed lowering water prices by up to 20% while maintaining profit and increased water demand by 9% and 14%, for stores selling SSBs in 12-oz cans and 16- to 20-oz bottles, respectively. Without changing water prices, profits could increase by 4% and 6%, respectively. Sensitivity analysis showed that stores with a higher volume of SSB sales could reduce water prices the most without loss of profit. Various combinations of SSB and water prices could encourage water consumption while maintaining or increasing store owners' profits. This model is a first step in designing and implementing profitable pricing strategies in collaboration with store owners.

  2. A Consistent Pricing Model for Index Options and Volatility Derivatives

    DEFF Research Database (Denmark)

    Kokholm, Thomas

    to be priced consistently, while allowing for jumps in volatility and returns. An affine specification using Lévy processes as building blocks leads to analytically tractable pricing formulas for volatility derivatives, such as VIX options, as well as efficient numerical methods for pricing of European options...... on the underlying asset. The model has the convenient feature of decoupling the vanilla skews from spot/volatility correlations and allowing for different conditional correlations in large and small spot/volatility moves. We show that our model can simultaneously fit prices of European options on S&P 500 across...

  3. A Consistent Pricing Model for Index Options and Volatility Derivatives

    DEFF Research Database (Denmark)

    Cont, Rama; Kokholm, Thomas

    2013-01-01

    to be priced consistently, while allowing for jumps in volatility and returns. An affine specification using Lévy processes as building blocks leads to analytically tractable pricing formulas for volatility derivatives, such as VIX options, as well as efficient numerical methods for pricing of European options...... on the underlying asset. The model has the convenient feature of decoupling the vanilla skews from spot/volatility correlations and allowing for different conditional correlations in large and small spot/volatility moves. We show that our model can simultaneously fit prices of European options on S&P 500 across...

  4. News impact for Turkish food prices

    Directory of Open Access Journals (Sweden)

    Meltem Chadwick

    2017-06-01

    Full Text Available Asymmetric volatility is a widely encountered concept particularly in financial series. It refers to the case that “bad news” generates more volatility than “good news” of equal magnitude. In an inflationary environment “bad news” is disclosed as increasing inflation that is expected to generate higher volatility. The present article examines whether unexpected price changes affect the volatility of prices asymmetrically for 90 retail food items of the Turkish consumer price index. These 90 food items have a weight of approximately 20 percent in headline consumer price index (CPI. We employ exponential generalized autoregressive conditional heteroscedastic (EGARCH model to extract asymmetric volatility, using monthly data between January 2003 and January 2017. Our results reveal that volatility of food prices respond asymmetrically to unexpected price shocks for 62 percent of the retail food items.

  5. Bounds and inequalities relating h-index, g-index, e-index and generalized impact factor: an improvement over existing models.

    Science.gov (United States)

    Abbas, Ash Mohammad

    2012-01-01

    In this paper, we describe some bounds and inequalities relating h-index, g-index, e-index, and generalized impact factor. We derive the bounds and inequalities relating these indexing parameters from their basic definitions and without assuming any continuous model to be followed by any of them. We verify the theorems using citation data for five Price Medalists. We observe that the lower bound for h-index given by Theorem 2, [formula: see text], g ≥ 1, comes out to be more accurate as compared to Schubert-Glanzel relation h is proportional to C(2/3)P(-1/3) for a proportionality constant of 1, where C is the number of citations and P is the number of papers referenced. Also, the values of h-index obtained using Theorem 2 outperform those obtained using Egghe-Liang-Rousseau power law model for the given citation data of Price Medalists. Further, we computed the values of upper bound on g-index given by Theorem 3, g ≤ (h + e), where e denotes the value of e-index. We observe that the upper bound on g-index given by Theorem 3 is reasonably tight for the given citation record of Price Medalists.

  6. A Research Study of the Jurists’ opinions regarding the Sale on Installments(Urdu

    Directory of Open Access Journals (Sweden)

    Dr. Muḥammad Tahir

    2017-07-01

    Full Text Available In Islamic Sharia, the usury is prohibited while the trade has been allowed. This ruling is very clear and transparent in sources of Sharia. From the emergence of Islam many means of financing have been continuing which have got new shapes and names in modern ages. Among these contracts, one is sale in installments. This type of transaction is a part of modern financing in which the object is sold on the condition of payments in installments. The price of the object remains more than the cash payment. This concept has been discussed by the jurists and they have presented their different views about the sale in installments. In Islamic Sharia, the usury is prohibited while the trade has been allowed. This ruling is very clear and transparent in sources of Sharia. From the emergence of Islam many means of financing have been continuing which have got new shapes and names in modern ages. Among these contracts, one is sale in installments. This type of transaction is a part of modern financing in which the object is sold on the condition of payments in installments. The price of the object remains more than the cash payment. This concept has been discussed by the jurists and they have presented their different views about the sale in installments.

  7. The economic feasibility of price discounts to improve diet in Australian Aboriginal remote communities.

    Science.gov (United States)

    Magnus, Anne; Moodie, Marj L; Ferguson, Megan; Cobiac, Linda J; Liberato, Selma C; Brimblecombe, Julie

    2016-04-01

    To estimate the cost-effectiveness of fiscal measures applied in remote community food stores for Aboriginal Australians. Six price discount strategies on fruit, vegetables, diet drinks and water were modelled. Baseline diet was measured as 12 months' actual food sales data in three remote Aboriginal communities. Discount-induced changes in food purchases were based on published price elasticity data while the weight of the daily diet was assumed constant. Dietary change was converted to change in sodium and energy intake, and body mass index (BMI) over a 12-month period. Improved lifetime health outcomes, modelled for the remote population of Aboriginal and Torres Strait Islanders, were converted to disability adjusted life years (DALYs) saved using a proportional multistate lifetable model populated with diet-related disease risks and Aboriginal and Torres Strait Islander rates of disease. While dietary change was small, five of the six price discount strategies were estimated as cost-effective, below a $50,000/DALY threshold. Stakeholders are committed to finding ways to reduce important inequalities in health status between Aboriginal and Torres Strait Islanders and non-Indigenous Australians. Price discounts offer potential to improve Aboriginal and Torres Strait Islander health. Verification of these results by trial-based research coupled with consideration of factors important to all stakeholders is needed. © 2015 The Authors.

  8. Market Confidence Predicts Stock Price: Beyond Supply and Demand.

    Directory of Open Access Journals (Sweden)

    Xiao-Qian Sun

    Full Text Available Stock price prediction is an important and challenging problem in stock market analysis. Existing prediction methods either exploit autocorrelation of stock price and its correlation with the supply and demand of stock, or explore predictive indictors exogenous to stock market. In this paper, using transaction record of stocks with identifier of traders, we introduce an index to characterize market confidence, i.e., the ratio of the number of traders who is active in two successive trading days to the number of active traders in a certain trading day. Strong Granger causality is found between the index of market confidence and stock price. We further predict stock price by incorporating the index of market confidence into a neural network based on time series of stock price. Experimental results on 50 stocks in two Chinese Stock Exchanges demonstrate that the accuracy of stock price prediction is significantly improved by the inclusion of the market confidence index. This study sheds light on using cross-day trading behavior to characterize market confidence and to predict stock price.

  9. Market Confidence Predicts Stock Price: Beyond Supply and Demand.

    Science.gov (United States)

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

    2016-01-01

    Stock price prediction is an important and challenging problem in stock market analysis. Existing prediction methods either exploit autocorrelation of stock price and its correlation with the supply and demand of stock, or explore predictive indictors exogenous to stock market. In this paper, using transaction record of stocks with identifier of traders, we introduce an index to characterize market confidence, i.e., the ratio of the number of traders who is active in two successive trading days to the number of active traders in a certain trading day. Strong Granger causality is found between the index of market confidence and stock price. We further predict stock price by incorporating the index of market confidence into a neural network based on time series of stock price. Experimental results on 50 stocks in two Chinese Stock Exchanges demonstrate that the accuracy of stock price prediction is significantly improved by the inclusion of the market confidence index. This study sheds light on using cross-day trading behavior to characterize market confidence and to predict stock price.

  10. Pricing and Promotion Effects on Low-Fat Vending Snack Purchases: The CHIPS Study.

    Science.gov (United States)

    French, Simone A.; Jeffery, Robert W.; Story, Mary; Breitlow, Kyle K.; Baxter, Judith S.; Hannan, Peter; Snyder, M. Patricia

    2001-01-01

    Examined the effects of pricing and promotion strategies on purchases of low-fat snacks from vending machines set up at secondary schools and worksites in Minnesota. Analysis of sales data indicated that reducing relative prices on low-fat snacks was very effective in promoting lower-fat snack purchases from vending machines in both settings. (SM)

  11. Beyond the dogma of the fixed book price agreement

    NARCIS (Netherlands)

    van der Ploeg, F.

    2004-01-01

    After describing the essential features of the book market, a welfare analysisof the fixed book price agreement is given. Allowance is made for theopportunity cost of reading. Theoretically such an agreement pushes up bookprices and depresses book sales. However, more titles will be

  12. Price elasticities of alcohol demand: evidence from Russia.

    Science.gov (United States)

    Goryakin, Yevgeniy; Roberts, Bayard; McKee, Martin

    2015-03-01

    In this paper, we estimate price elasticities of demand of several types of alcoholic drinks, using 14 rounds of data from the Russia Longitudinal Monitoring Survey-HSE, collected from 1994 until 2009. We deal with potential confounding problems by taking advantage of a large number of control variables, as well as by estimating community fixed effect models. All in all, although alcohol prices do appear to influence consumption behaviour in Russia, in most cases the size of effect is modest. The finding that two particularly problematic drinks-cheap vodka and fortified wine-are substitute goods also suggests that increasing their prices may not lead to smaller alcohol consumption. Therefore, any alcohol pricing policies in Russia must be supplemented with other measures, such as restrictions on numbers of sales outlets or their opening times.

  13. 17 CFR 230.504 - Exemption for limited offerings and sales of securities not exceeding $1,000,000.

    Science.gov (United States)

    2010-04-01

    ... require the public filing and delivery to investors of a substantive disclosure document before sale, and... only to “accredited investors” as defined in § 230.501(a). (2) The aggregate offering price for an... § 230.504 fails to meet the limitation on the aggregate offering price, it does not affect the...

  14. Impact of cigarette minimum price laws on the retail price of cigarettes in the USA.

    Science.gov (United States)

    Tynan, Michael A; Ribisl, Kurt M; Loomis, Brett R

    2013-05-01

    Cigarette price increases prevent youth initiation, reduce cigarette consumption and increase the number of smokers who quit. Cigarette minimum price laws (MPLs), which typically require cigarette wholesalers and retailers to charge a minimum percentage mark-up for cigarette sales, have been identified as an intervention that can potentially increase cigarette prices. 24 states and the District of Columbia have cigarette MPLs. Using data extracted from SCANTRACK retail scanner data from the Nielsen company, average cigarette prices were calculated for designated market areas in states with and without MPLs in three retail channels: grocery stores, drug stores and convenience stores. Regression models were estimated using the average cigarette pack price in each designated market area and calendar quarter in 2009 as the outcome variable. The average difference in cigarette pack prices are 46 cents in the grocery channel, 29 cents in the drug channel and 13 cents in the convenience channel, with prices being lower in states with MPLs for all three channels. The findings that MPLs do not raise cigarette prices could be the result of a lack of compliance and enforcement by the state or could be attributed to the minimum state mark-up being lower than the free-market mark-up for cigarettes. Rather than require a minimum mark-up, which can be nullified by promotional incentives and discounts, states and countries could strengthen MPLs by setting a simple 'floor price' that is the true minimum price for all cigarettes or could prohibit discounts to consumers and retailers.

  15. Features of the Asynchronous Correlation between the China Coal Price Index and Coal Mining Accidental Deaths

    Science.gov (United States)

    Huang, Yuecheng; Cheng, Wuyi; Luo, Sida; Luo, Yun; Ma, Chengchen; He, Tailin

    2016-01-01

    The features of the asynchronous correlation between accident indices and the factors that influence accidents can provide an effective reference for warnings of coal mining accidents. However, what are the features of this correlation? To answer this question, data from the China coal price index and the number of deaths from coal mining accidents were selected as the sample data. The fluctuation modes of the asynchronous correlation between the two data sets were defined according to the asynchronous correlation coefficients, symbolization, and sliding windows. We then built several directed and weighted network models, within which the fluctuation modes and the transformations between modes were represented by nodes and edges. Then, the features of the asynchronous correlation between these two variables could be studied from a perspective of network topology. We found that the correlation between the price index and the accidental deaths was asynchronous and fluctuating. Certain aspects, such as the key fluctuation modes, the subgroups characteristics, the transmission medium, the periodicity and transmission path length in the network, were analyzed by using complex network theory, analytical methods and spectral analysis method. These results provide a scientific reference for generating warnings for coal mining accidents based on economic indices. PMID:27902748

  16. Support Tool in the Diagnosis of Sales Price of Dental Plans

    Science.gov (United States)

    de Oliveira, Raquel A. F.; Lóscio, Bernadette F.; Pinheiro, Plácido Rogério

    It shows the formatting of a table of price to be used by a company is an activity that cannot be performed only empirically. The application of statistical methodologies and actuarial comes, increasingly, being used widely by companies primarily in the business of health plan. The increasing use of these techniques ensures that a manager of these companies more security and lower risk exposure while assisting them in making decisions. The aim of this paper is to present a tool for calculating the price of dental health developed in Java and PL/PgSQL.

  17. 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.

  18. Buying Food on Sale: A Mixed Methods Study With Shoppers at an Urban Supermarket, Philadelphia, Pennsylvania, 2010–2012

    Science.gov (United States)

    Kumanyika, Shiriki K.; Stites, Shana D.; Singletary, S. Brook; Cooblall, Clarissa; DiSantis, Katherine Isselmann

    2014-01-01

    Introduction The obesity epidemic has drawn attention to food marketing practices that may increase the likelihood of caloric overconsumption and weight gain. We explored the associations of discounted prices on supermarket purchases of selected high-calorie foods (HCF) and more healthful, low-calorie foods (LCF) by a demographic group at high risk of obesity. Methods Our mixed methods design used electronic supermarket purchase data from 82 low-income (primarily African American female) shoppers for households with children and qualitative data from focus groups with demographically similar shoppers. Results In analyses of 6,493 food purchase transactions over 65 weeks, the odds of buying foods on sale versus at full price were higher for grain-based snacks, sweet snacks, and sugar-sweetened beverages (odds ratios: 6.6, 5.9, and 2.6, respectively; all P supermarket sales promotions from price reductions for HCF to price reductions for LCF might help prevent obesity by decreasing purchases of HCF. PMID:25188276

  19. The European used-car market at a glance: Hedonic resale price valuation in automotive leasing industry

    OpenAIRE

    Sylvain M. Prado

    2009-01-01

    In the leasing industry, the risk of loss on sales at the end of the contract term, as well as pricing are critically impacted by the forecasted resale price of the asset (residual value). We apply the Hedonic methodology to European auto lease portfolios, in order to estimate the resale price distribution. The Hedonic approach estimates the price of a good through the valuation of its attributes. Following a discussion on Hedonic prices, we propose an operational model for the automobile res...

  20. General Considerations on the Influence of Prices on Business

    Directory of Open Access Journals (Sweden)

    Cornelia Elena Tureac

    2006-10-01

    Full Text Available In most companies, there is an ongoing conflict between managers in charge of covering costs (finance and accounting and managers incharge of satisfying customers (marketing and sales. Accounting journals warn on prices that fail to cover full costs, while marketing journals arguethat customer willingness to pay must be the sole driver of prices. The conflict between these views wastes company resources and leads to pricingdecisions that are imperfect compromises. Profitable pricing involves an integration of costs and customer value. To achieve that integration,however, both need to let go of misleading ideas and to form a common vision of what profitability means.

  1. Scafom International BV v. Lorraine Tubes S.A.S.: a case review of changing circumstances under the United Nations Convention on International Sale of Goods (CISG of 1980

    Directory of Open Access Journals (Sweden)

    Amalina AHMAD TAJUDIN

    2014-12-01

    Full Text Available This paper analyses the Belgium Supreme Court decision of Scafom International BV v. Lorraine Tubes S.A.S. The case involved a contract of sale of volatile goods ie steel tubes whereby a fixed-price contract caused it to be unenforceable because of the 70% market price increase just before the goods were delivered to the buyer. While the seller requested for renegotiation, for a higher contract price, the buyer refused to come to terms with the former. The court, by virtue of the United Nations sales law, held that renegotiation was the appropriate remedy in such a situation. In addition, the paper tests the different possible outcomes of this decision under the English Sale of Goods Act 1979, as well as the US Uniform Commercial Code. The finding of this test proves that these two sales laws would have tackled the issue of volatile market differently from that of the United Nations’.

  2. Concentration and drug prices in the retail market for malaria treatment in rural Tanzania.

    Science.gov (United States)

    Goodman, Catherine; Kachur, S Patrick; Abdulla, Salim; Bloland, Peter; Mills, Anne

    2009-06-01

    The impact of market concentration has been little studied in markets for ambulatory care in the developing world, where the retail sector often accounts for a high proportion of treatments. This study begins to address this gap through an analysis of the consumer market for malaria treatment in rural areas of three districts in Tanzania. We developed methods for investigating market definition, sales volumes and concentration, and used these to explore the relationship between antimalarial retail prices and competition.The market was strongly geographically segmented and highly concentrated in terms of antimalarial sales. Antimalarial prices were positively associated with market concentration. High antimalarial prices were likely to be an important factor in the low proportion of care-seekers obtaining appropriate treatment.Retail sector distribution of subsidised antimalarials has been proposed to increase the coverage of effective treatment, but this analysis indicates that local market power may prevent such subsidies from being passed on to rural customers. Policymakers should consider the potential to maintain lower retail prices by decreasing concentration among antimalarial providers and recommending retail price levels. Copyright (c) 2009 John Wiley & Sons, Ltd.

  3. Testing the fire-sale FDI hypothesis for the European financial crisis

    NARCIS (Netherlands)

    Weitzel, G.U.; Kling, G.; Gerritsen, D.

    2014-01-01

    Using a panel of corporate transactions in 27 EU countries from 1999 to 2012, we investigate the impact of the financial crisis on the market for corporate assets. In particular, we test the ‘fire-sale FDI’ hypothesis by analyzing the number of cross-border transactions, the price of corporate

  4. Testing the Fire-Sale FDI Hypothesis for the European Financial Crisis

    NARCIS (Netherlands)

    Kling, G.; Gerritsen, Dirk; Weitzel, Gustav Utz

    2014-01-01

    Using a panel of corporate transactions in 27 EU countries from 1999 to 2012, we investigate the impact of the financial crisis on the market for corporate assets. In particular, we test the ‘fire-sale FDI’ hypothesis by analyzing the number of cross-border transactions, the price of corporate

  5. Price discovery on the Johannesburg Stock Exchange: Examining ...

    African Journals Online (AJOL)

    Price discovery on the Johannesburg Stock Exchange: Examining the impact of the ... of price discovery aim to determine which market reflects new information first. ... This paper examines the FTSE/JSE Top 40 Index, the Top 40 Index Futures ...

  6. 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

  7. Multi-unit price promotions and their impact on purchase decisions and sales

    NARCIS (Netherlands)

    Drechsler, Salome; Leeflang, Peter S. H.; Bijmolt, Tammo H. A.; Natter, Martin

    2017-01-01

    Purpose - The purpose of this paper is to compare the impact of different multi-unit promotions (MUPs) and a single-unit promotion (SUP) on store-level sales and consumer-level purchase probability and quantity decision. Design/methodology/approach - The paper combines two empirical studies. Study 1

  8. Relationships between oil price shocks and stock market: An empirical analysis from China

    International Nuclear Information System (INIS)

    Cong Ronggang; Wei Yiming; Jiao Jianlin; Fan Ying

    2008-01-01

    This paper investigates the interactive relationships between oil price shocks and Chinese stock market using multivariate vector auto-regression. Oil price shocks do not show statistically significant impact on the real stock returns of most Chinese stock market indices, except for manufacturing index and some oil companies. Some 'important' oil price shocks depress oil company stock prices. Increase in oil volatility may increase the speculations in mining index and petrochemicals index, which raise their stock returns. Both the world oil price shocks and China oil price shocks can explain much more than interest rates for manufacturing index

  9. Oil prices, SUVs, and Iraq. An investigation of automobile manufacturer oil price sensitivity

    Energy Technology Data Exchange (ETDEWEB)

    Cameron, Ken [United States Navy (United States); Schnusenberg, Oliver [Department of Accounting and Finance, Coggin College of Business, The University of North Florida, 1 UNF Drive, Jacksonville, FL 32224 (United States)

    2009-05-15

    There has been much speculation about the recent upsurge in crude oil prices and the effect it will have on the economy and business. The objective of this paper is to investigate the relationship between oil prices and stock prices of automobile manufacturers. We add an oil price factor, measured alternatively by the excess change in WTI crude oil prices or the excess return on an energy ETF, to the Fama-French three-factor model over the period March 20, 2001 to September 30, 2008. Our dependent variable is the excess return on a price-weighted index of automobile manufacturers. Results indicate that oil prices add value to the pricing model, particularly for manufacturers specializing in SUVs and for a subperiod following the Iraq invasion on March 19, 2003. (author)

  10. International Pricing Strategies for Born-Global Firms

    Directory of Open Access Journals (Sweden)

    Michael Neubert

    2017-10-01

    Full Text Available This paper aims to understand how born global firms develop their international pricing strategies, practices, and models. It aims to expand the study of international entrepreneurship and born global firms by including a broader and deeper range of pricing aspects than is normally found in the international entrepreneurship and pricing literature. The paper opted for a multiple case-study research design using different sources of evidence, including four in-depth interviews with CEOs of born global firms. The case-study firms were selected using a purposive selection method. The theoretical framework of Ingenbleek, Frambach & Verhallen is used. The results suggest that successful leaders act as ‘integrating forces’ on two levels: by applying a structured and disciplined price-setting process with regular reviews and by mediating between corporate financial goals and the local market reality. The results support the claim that policy makers should offer insights, training and financial support to give promising born global firms the possibility to select the most efficient international pricing models and strategies. The results are relevant for entrepreneurs to understand the importance of efficient price-modelling processes and the influence of the different price strategies and price models on financial results and sales revenues.

  11. Do state minimum markup/price laws work? Evidence from retail scanner data and TUS-CPS.

    Science.gov (United States)

    Huang, Jidong; Chriqui, Jamie F; DeLong, Hillary; Mirza, Maryam; Diaz, Megan C; Chaloupka, Frank J

    2016-10-01

    Minimum markup/price laws (MPLs) have been proposed as an alternative non-tax pricing strategy to reduce tobacco use and access. However, the empirical evidence on the effectiveness of MPLs in increasing cigarette prices is very limited. This study aims to fill this critical gap by examining the association between MPLs and cigarette prices. State MPLs were compiled from primary legal research databases and were linked to cigarette prices constructed from the Nielsen retail scanner data and the self-reported cigarette prices from the Tobacco Use Supplement to the Current Population Survey. Multivariate regression analyses were conducted to examine the association between MPLs and the major components of MPLs and cigarette prices. The presence of MPLs was associated with higher cigarette prices. In addition, cigarette prices were higher, above and beyond the higher prices resulting from MPLs, in states that prohibit below-cost combination sales; do not allow any distributing party to use trade discounts to reduce the base cost of cigarettes; prohibit distributing parties from meeting the price of a competitor, and prohibit distributing below-cost coupons to the consumer. Moreover, states that had total markup rates >24% were associated with significantly higher cigarette prices. MPLs are an effective way to increase cigarette prices. The impact of MPLs can be further strengthened by imposing greater markup rates and by prohibiting coupon distribution, competitor price matching, and use of below-cost combination sales and trade discounts. Published by the BMJ Publishing Group Limited. For permission to use (where not already granted under a licence) please go to http://www.bmj.com/company/products-services/rights-and-licensing/.

  12. Analisis Saham Syariah Efisien dengan Pendekatan Shari’a Compliant Asset Pricing Model (SCAPM pada Jakarta Islamic Index (JII

    Directory of Open Access Journals (Sweden)

    Zainul Hasan Quthbi

    2017-10-01

    Artikel ini bermaksud untuk menganalisis saham syariah yang tergolong efisien untuk keputusan investasi dengan menggunakan SCAPM (Shari’a Compliant Asset Pricing Model. SCAPM adalah bentuk modifikasi dari CAPM (Capital Asset Pricing Model yang bertujuan agar kerangka model analisis masih dalam kerangka syariah. Teknik pengumpulan data adalah dokumentasi dari data yang bersifat sekunder. Digunakan 13 sampel saham syariah pada penelitian ini dengan kriteria saham syariah yang konsisten masuk pada JII (Jakarta Islamic Index periode penelitian Desember 2013 hingga November 2016 dan memiliki pengembalian saham individual positif. Hasil dari penelitian menunjukkan terdapat 9 saham syariah yang tergolong efisien dan 4 sisanya tidak efisien. Saham PT. Adaro Energy memiliki nilai RVAR terbesar yang berarti memiliki kinerja saham paling baik.

  13. Pricing Employee Stock Options (ESOs) with Random Lattice

    Science.gov (United States)

    Chendra, E.; Chin, L.; Sukmana, A.

    2018-04-01

    Employee Stock Options (ESOs) are stock options granted by companies to their employees. Unlike standard options that can be traded by typical institutional or individual investors, employees cannot sell or transfer their ESOs to other investors. The sale restrictions may induce the ESO’s holder to exercise them earlier. In much cited paper, Hull and White propose a binomial lattice in valuing ESOs which assumes that employees will exercise voluntarily their ESOs if the stock price reaches a horizontal psychological barrier. Due to nonlinearity errors, the numerical pricing results oscillate significantly so they may lead to large pricing errors. In this paper, we use the random lattice method to price the Hull-White ESOs model. This method can reduce the nonlinearity error by aligning a layer of nodes of the random lattice with a psychological barrier.

  14. The price of cigarettes in the European Union.

    Science.gov (United States)

    Montes, A; Villalbí, J R

    2001-06-01

    A major factor influencing tobacco use is its price. Fiscal policies on tobacco are a key ingredient of any comprehensive control strategy, as they can be used to raise prices. The European Union (EU) developed directives to ensure some harmonisation of the fiscal pressure on tobacco across its member states. To provide a simple comparison of tobacco prices in the EU, adjusting for the purchasing power of each currency. For price comparisons, a 20 units pack of Marlboro was the reference product, and data refer to April 2000. Purchasing power parities (PPP) for each member state currency have been compiled. These are currency conversion rates, which convert to a common currency and equalise the purchasing power of different currencies. Nominal prices of a Marlboro pack for each member state, and a price index, estimated taking as reference the EU mean. Adjusted prices and an adjusted price index have been estimated using PPP. Nominal prices show wide variation, with the cheapest pack in Portugal (59) and the most expensive in the UK (196); the range of variation is three-fold. However, PPP adjusted prices reveal a different distribution. In three countries adjusted prices are outliers, but all other countries make two clusters, one around the average EU index of 100, the other around a lower value of 85. These results suggest that fiscal harmonisation policies in the EU do not have an even effect at reducing availability by its impact in price.

  15. 27 CFR 53.174 - Determination of price readjustments.

    Science.gov (United States)

    2010-04-01

    ... or credited to the vendee's account, or (ii) If the article is returned under an express or implied... certain installment sales contracts, and all or a part of the purchase price is repaid to the vendee or... retained by the manufacturer pursuant to contract as reimbursement of expense incurred in connection with...

  16. FREE STANDING INSERTAS AN EFFECTIVE MEDIAIN SALES PROMOTI- ON AND ASTUDYON THE HYPER/SUPERMARKETCUSTOMERS

    OpenAIRE

    Mehmet T›gl›; Serdar Pirtini

    2003-01-01

    In recent years the free standing insert has been intensely used since it seems to be an alternative media in communicating firms’sales promotion to customers. It is preferred by the manufacturers and by the intermediate firms because communication of this media to consumers is relatively easier and cheaper compared to other advertising tools. In this study, the concepts of "sales promotion, price discount and free standing in- sert" are described and a research is conducted to determine th...

  17. Rising prices squeeze gas marketer

    Energy Technology Data Exchange (ETDEWEB)

    Lunan, D.

    2000-06-19

    Apollo Gas, a Toronto-based gas marketer, is considering options to enhance unit holder value, including sale of its 21,000 gas supply contracts, just weeks after it was forced out of the Alberta market by rising gas prices. Although the company had reported first quarter revenues of more than $15 million and earnings through that period of about $2.1 million, increases of 33 per cent and 38 per cent respectively over the same period in 1999, the company is resigned to the fact that such performance markers are not likely to be reached again in the foreseeable future, hence the decision to sell. About 95 per cent of Apollo's current transportation service volumes are matched to existing fixed-price supply contract which are due to expire in November 2000. After that, it is about 75 per cent matched for the balance of the term of its customer contracts (mostly five years). This means that the company is exposed to market prices that are likely to continue to increase. If this prediction holds true, Apollo would be forced to purchase the unhedged volumes of gas it needs to service its customers in the spot market at prices higher than prices the company is charging to its customers.

  18. Rising prices squeeze gas marketer

    International Nuclear Information System (INIS)

    Lunan, D.

    2000-01-01

    Apollo Gas, a Toronto-based gas marketer, is considering options to enhance unit holder value, including sale of its 21,000 gas supply contracts, just weeks after it was forced out of the Alberta market by rising gas prices. Although the company had reported first quarter revenues of more than $15 million and earnings through that period of about $2.1 million, increases of 33 per cent and 38 per cent respectively over the same period in 1999, the company is resigned to the fact that such performance markers are not likely to be reached again in the foreseeable future, hence the decision to sell. About 95 per cent of Apollo's current transportation service volumes are matched to existing fixed-price supply contract which are due to expire in November 2000. After that, it is about 75 per cent matched for the balance of the term of its customer contracts (mostly five years). This means that the company is exposed to market prices that are likely to continue to increase. If this prediction holds true, Apollo would be forced to purchase the unhedged volumes of gas it needs to service its customers in the spot market at prices higher than prices the company is charging to its customers

  19. The sale of National Power and PowerGen

    International Nuclear Information System (INIS)

    1992-06-01

    In March 1991, the Secretary of State for Energy sold approximately 60 per cent of the shares in National Power and PowerGen who generate most of the electricity produced in England and Wales. The Government's overriding objective was to complete the privatisation of the electricity industry during the lifetime of the Parliament. Within that overriding objective, the Department sought: to maximise net proceeds; to deepen share ownership among individuals; to achieve the overall recognition that the sale of the two companies had been a success; and to achieve a modest premium on the issue price following the state of share dealings. This report sets out the results of a National Audit Office examination of how far the Department achieved their objectives for the sale, and how they controlled its costs. (author)

  20. Utility green pricing programs: a statistical analysis of program effectiveness

    International Nuclear Information System (INIS)

    Ryan, W.; Scott, O.; Lori, B.; Blair, S.

    2005-01-01

    Utility green pricing programs represent one way in which consumers can voluntarily support the development of renewable energy. The design features and effectiveness of these programs varies considerably. Based on a survey of utility program managers in the United States, this article provides insight into which program features might help maximize both customer participation in green pricing programs and the amount of renewable energy purchased by customers in those programs. We find that program length has a substantial impact on customer participation and purchases; to achieve higher levels of success, utilities will need to remain committed to their product offering for some time. Our findings also suggest that utilities should consider higher renewable energy purchase thresholds for residential customers in order to maximize renewable energy sales. Smaller utilities are found to be more successful than larger utilities, and we find some evidence that providing private benefits to nonresidential participants can enhance success. Interestingly, we find little evidence that the cost of the green pricing product greatly impacts customer participation and renewable energy sales, at least over the narrow range of premiums embedded in our data set, and for the initial set of green power purchasers. (author)

  1. New Evidence on the Price Effects of Cigarette Tax Competition.

    Science.gov (United States)

    Carpenter, Christopher S; Mathes, Michael T

    2016-05-01

    Multiple studies have shown that cigarette taxes are more than fully passed through to cigarette prices and that access to a nearby state with a lower cigarette tax also reduces local cigarette prices. We study two other sources of tax competition: nearby Native American reservations and online sales. Using quarterly data on local cigarette prices from 1976-2003, we show that the opening of a Native American casino within 25 miles of a city center is associated with a $0.016-$0.027 lower per-pack price, while a 50 percentage point increase in internet penetration is associated with a $0.22-$0.25 per-pack price reduction. These effects are not observed for other local prices for which there is no potential tax savings. Our results further our understanding of how tax competition affects local cigarette prices and provide context to studies linking Native American reservations and internet penetration to cigarette smuggling.

  2. Investigating the effects of sales promotions on customer behavioral intentions at duty-free shops: An Incheon International Airport case study

    Directory of Open Access Journals (Sweden)

    Jin-Woo Park

    2013-09-01

    Full Text Available Purpose: This paper seeks to investigate the effects of sales promotions at airport duty-free shops by testing a conceptual model that considers price, coupons, free gifts, points, satisfaction, value, image, and behavioral intentions simultaneously.Design/methodology/approach: For this testing, structural equation modeling was applied to data collected from duty-free shop users at Incheon International Airport.Findings: Price and coupons were found as significant drivers of customer satisfaction, which was directly related to customer value, image, and behavioral intentions.Originality/value: This paper is the first research that examines the effects of sales promotions at the duty-free shops of Incheon International Airport. The identified sales promotion factors that influence the behavioral intentions of customers at duty-free shops are potentially useful for analyzing the possible trends and changes in duty-free shop customer buying behavior.

  3. Identifying and predicting economic regimes in supply chains using sales and procurement information

    NARCIS (Netherlands)

    Hogenboom, F.P.; Ketter, W.; Dalen, van Jan; Kaymak, U.; Collins, J.; Gupta, Alok

    2009-01-01

    We investigate the effects of adding procurement information (component offer prices) to a sales-based economic regime model, which is used for strategic, tactical, and operational decision making in dynamic supply chains. The performance of the regime model is evaluated through experiments with the

  4. Economic Regime identification and prediction in TAC SCM using sales and procurement information

    NARCIS (Netherlands)

    Hogenboom, F.P.; Ketter, W.; Dalen, van Jan; Kaymak, U.; Collins, J.; Gupta, Alok

    2009-01-01

    Our research is focused on the effects of the additionof procurement information (offer prices) to a sales-based economic regime model. This model is used for strategic, tactical, and operational decision making in dynamic supply chains. We evaluate the performance of the regime model through

  5. 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

  6. The price level and monetary policy

    Directory of Open Access Journals (Sweden)

    Charles P. Kindleberger

    2002-03-01

    Full Text Available Most central banks are required to or choose to stabilize a price index, largely by manipulating short term interest rates. A serious problem is which index to choose among the national income deflator, wholesale prices, the cost of living, with or eliminating highly volatile commodities such as food and energy, to produce a core index, plus others such as housing, including or without imputed rent of owner-occupied houses, or assets, whether equities or houses. No obvious and widely agreed index exists. Even if there were a clear choice, there remains a question whether a central bank should carefully consider action in order to achieve other goals: full employment, adjustment of the balance of payments, of the exchange rate, prevention of bubbles in asset prices, or recovery from financial crises. If so, the question of central bank weapons remains: monetary expansion or contraction, credit controls, for overall or for particular purposes, and moral suasion.

  7. 18 CFR 284.288 - Code of conduct for unbundled sales service.

    Science.gov (United States)

    2010-04-01

    ... 18 Conservation of Power and Water Resources 1 2010-04-01 2010-04-01 false Code of conduct for unbundled sales service. 284.288 Section 284.288 Conservation of Power and Water Resources FEDERAL ENERGY... information upon which it billed the prices it charged for natural gas it sold pursuant to its market based...

  8. Modeling Philippine Stock Exchange Composite Index Using Time Series Analysis

    Science.gov (United States)

    Gayo, W. S.; Urrutia, J. D.; Temple, J. M. F.; Sandoval, J. R. D.; Sanglay, J. E. A.

    2015-06-01

    This study was conducted to develop a time series model of the Philippine Stock Exchange Composite Index and its volatility using the finite mixture of ARIMA model with conditional variance equations such as ARCH, GARCH, EG ARCH, TARCH and PARCH models. Also, the study aimed to find out the reason behind the behaviorof PSEi, that is, which of the economic variables - Consumer Price Index, crude oil price, foreign exchange rate, gold price, interest rate, money supply, price-earnings ratio, Producers’ Price Index and terms of trade - can be used in projecting future values of PSEi and this was examined using Granger Causality Test. The findings showed that the best time series model for Philippine Stock Exchange Composite index is ARIMA(1,1,5) - ARCH(1). Also, Consumer Price Index, crude oil price and foreign exchange rate are factors concluded to Granger cause Philippine Stock Exchange Composite Index.

  9. Evaluation of long-term natural gas marketing agreements: An application of commodity forward and option pricing theory

    International Nuclear Information System (INIS)

    Salahor, G.S.; Laughton, D.G.

    1993-01-01

    Methods that have been empirically validated in the analysis of short-term traded securities are adapted to evaluate long-term natural gas direct-sale contracts. A sample contract is examined from the perspective of the producer, and analyzed as a series of forward and option contracts. The assessment of contract value is based on the gas price forecast, the volatility in that forecast, and the valuation of risk caused by that volatility. The method presented allows the gas producer to quantify these elements, and to evaluate the variety of terms encountered in direct-sale natural gas agreements, including features such as load factors and penalty charges. The analysis uses as inputs a probabilistic price forecast and a determination of a price of risk for gas prices. Once the forecast volatility is derived from the probabilistic forecast, the forward contracts imbedded in the long-term gas contract can be valued with a risk-discounting model, and optional aspects can be evaluated using the Black-Scholes option pricing method. 10 refs., 3 figs., 2 tabs

  10. Do financial investors affect the price of wheat?

    Directory of Open Access Journals (Sweden)

    Daniele Girardi

    2012-03-01

    Full Text Available It is widely debated whether financial speculation was a significant force behind recent food price fluctuations. As a matter of fact, during the 2000s agricultural commodity derivatives markets were flooded by a ‘wall of money’ coming from financial investors. In agricultural exchanges, the greatest part of this huge financial inflow came from index traders, i.e. financial actors that follow a passive strategy of tracking a commodity index. In this article I present new empirical evidence that supports the hypothesis that financial investments have affected wheat price dynamics in recent years. In particular, I focus on Hard Red Winter (HRW wheat. Since 2007 HRW wheat price fluctuations have been positively related to US stock market returns and oil price movements. These correlations appear to be determined by commodity index traders, since both these relationships proved to be spurious, with the most tracked commodity index as the confounding variable.

  11. Indexation and causation of financial markets

    CERN Document Server

    Tanokura, Yoko

    2015-01-01

    This book presents a new statistical method of constructing a price index of a financial asset where the price distributions are skewed and heavy-tailed and investigates the effectiveness of the method. In order to fully reflect the movements of prices or returns on a financial asset, the index should reflect their distributions. However, they are often heavy-tailed and possibly skewed, and identifying them directly is not easy. This book first develops an index construction method depending on the price distributions, by using nonstationary time series analysis. Firstly, the long-term trend of the distributions of the optimal Box–Cox transformed prices is estimated by fitting a trend model with time-varying observation noises. By applying state space modeling, the estimation is performed and missing observations are automatically interpolated. Finally, the index is defined by taking the inverse Box–Cox transformation of the optimal long-term trend. This book applies the method to various financial data. ...

  12. Exercise in Thoroughbred yearlings during sales preparation: a cohort study.

    Science.gov (United States)

    Bolwell, C F; Rogers, C W; French, N P; Firth, E C

    2012-01-01

    There is increasing evidence suggesting that early exercise in Thoroughbred racehorses may be beneficial to the development of the musculoskeletal system. At present, information on the exercise programmes and health problems of individual yearlings during a sales preparation is scant. To describe the exercise and health problems of Thoroughbred yearlings during preparation for sales, and to identify variations in exercise between and within farms. A prospective cohort study was used to collect exercise and health information from 18 farms across New Zealand. Daily exercise records for individual horses were recorded during the studfarms' preparation for the annual national yearling sales in January 2009. Data were collected from 319 yearlings, of which 283 (88.7%) were exercised (hand walking, mechanical walker and lungeing) during their preparations. Sales preparation lasted a median of 69 days (interquartile range 61-78) and differed significantly between farms (Psale (P = 0.14) or category of sales price (P = 0.12). Within certain farms, daily exercise differed between horses as did total exercise by gender and the number of days spent in the sales preparation. Lameness was the most common condition affecting yearlings and the overall incidence rate of lameness was 0.08 per 100 horse days (95% confidence interval 0.05-0.13). Incidence rates of lameness varied significantly between farms (P = 0.02), but not by age (P = 0.77), sales type (P = 0.58) or month of the preparation (P = 0.53). Yearling exercise programmes varied between and within farms. Since exercise is already being tailored for each individual horse, there may be an opportunity to allow for modifications to sales preparation with the future career in mind. © 2011 EVJ Ltd.

  13. Relationships between oil price shocks and stock market: An empirical analysis from China

    DEFF Research Database (Denmark)

    Cong, Ronggang; Wei, Yi-Ming; Jiao, Jian-Ling

    2008-01-01

    This paper investigates the interactive relationships between oil price shocks and Chinese stock market using multivariate vector auto-regression. Oil price shocks do not show statistically significant impact on the real stock returns of most Chinese stock market indices, except for manufacturing...... index and some oil companies. Some “important” oil price shocks depress oil company stock prices. Increase in oil volatility may increase the speculations in mining index and petrochemicals index, which raise their stock returns. Both the world oil price shocks and China oil price shocks can explain...

  14. Factors affecting the auction price of Veldram performance tested ...

    African Journals Online (AJOL)

    The popularity of these auctions for performance tested rams (89.4 % of rams sold) indicate that Veld tested rams were sought after by buyers. The sale price of 296 Veld tested Dorper rams sold between 1994 and 2001, covering seven different tests, were compared with their measured and observed performances.

  15. Convergence of decision rules for value-based pricing of new innovative drugs.

    Science.gov (United States)

    Gandjour, Afschin

    2015-04-01

    Given the high costs of innovative new drugs, most European countries have introduced policies for price control, in particular value-based pricing (VBP) and international reference pricing. The purpose of this study is to describe how profit-maximizing manufacturers would optimally adjust their launch sequence to these policies and how VBP countries may best respond. To decide about the launching sequence, a manufacturer must consider a tradeoff between price and sales volume in any given country as well as the effect of price in a VBP country on the price in international reference pricing countries. Based on the manufacturer's rationale, it is best for VBP countries in Europe to implicitly collude in the long term and set cost-effectiveness thresholds at the level of the lowest acceptable VBP country. This way, international reference pricing countries would also converge towards the lowest acceptable threshold in Europe.

  16. Machined part sales price build-up based on the contribution margin concept

    OpenAIRE

    Lucato, Wagner Cesar; Baptista, Elesandro Antonio; Coppini, Nivaldo Lemos

    2009-01-01

    One of the main competitive moves observed in the last two decades was the change in product pricing, evolving from a cost plus margin paradigm to a market-driven one. In the present days, the customer defines how much he or she is willing to pay for a given product or service. As a result, traditional cost accounting procedures and their related pricing formulas cannot accommodate that kind of change without significant turnaround in practices and concepts. Taking that into consideration, th...

  17. On the value relevance of retailer advertising spending and same-store sales growth

    NARCIS (Netherlands)

    Tuli, K.; Mukherjee, A.; Dekimpe, M.G.

    2012-01-01

    In response to recent calls to study factors that determine a retailer's stock price, this study draws on signaling theory to examine the impact of two key marketing metrics that are widely disclosed by retailers to investors, advertising spending and growth in same-store sales (COMPS), and

  18. 76 FR 24045 - Notice of HUD-Held Multifamily Loan Sale (MLS 2011-1)

    Science.gov (United States)

    2011-04-29

    ..., the bidder's deposit was non-refundable and was applied toward the purchase price. Deposits were... Commissioner, HUD. ACTION: Notice of sale of mortgage loans. SUMMARY: This notice announces HUD's intention to... INFORMATION: HUD announces its intention to sell in MLS 2011-1 certain unsubsidized mortgage loans (Mortgage...

  19. Optimal pricing and promotional effort control policies for a new product growth in segmented market

    Directory of Open Access Journals (Sweden)

    Jha P.C.

    2015-01-01

    Full Text Available Market segmentation enables the marketers to understand and serve the customers more effectively thereby improving company’s competitive position. In this paper, we study the impact of price and promotion efforts on evolution of sales intensity in segmented market to obtain the optimal price and promotion effort policies. Evolution of sales rate for each segment is developed under the assumption that marketer may choose both differentiated as well as mass market promotion effort to influence the uncaptured market potential. An optimal control model is formulated and a solution method using Maximum Principle has been discussed. The model is extended to incorporate budget constraint. Model applicability is illustrated by a numerical example. P.C. Jha, P. Manik, K. Chaudhary, R. Cambini / Optimal Pricing and Promotional 2 Since the discrete time data is available, the formulated model is discretized. For solving the discrete model, differential evolution algorithm is used.

  20. Analysis of Market Factors Associatedwith Sales of Cut Natural Christmas Trees

    Science.gov (United States)

    Lawrence D. Garrett

    1977-01-01

    A study of the market performance of natural Christmas tree retailers in Winston-Salem, North Carolins, revealed that success was strongly related to location in active retail shopping areas. Christmas tree retailers in shopping centers or areas high in retail sales sold more trees, received a higher average price, and had fewer trees left unsold than retailers in...

  1. Improving Sales Promotion of a Beverage Company in Nigeria

    OpenAIRE

    Abdulrauf, Abdullahi

    2012-01-01

    Promotion campaign is probably the most important aspect of the four marketing-mix elements—Price, Place, Product and Promotion— that are used to solve companies’ problems and gain competitive advantage if well implemented. This important element of marketing-mix involves personal selling, advertisement, sales promotion and public relations. Meanwhile, the ultimate objectives of promotion are to create awareness, provide information about goods and services, and differentiate a product fro...

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

    Directory of Open Access Journals (Sweden)

    H. Tamidy

    2016-03-01

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

  3. Monitoring of Monthly Price Changes of Cultured Fishes in Sinop Province Between 2012 and 2013

    Directory of Open Access Journals (Sweden)

    Birol Baki

    2017-09-01

    Full Text Available The aim of this study was to determine the monthly price changes of cultured fish which were offered for sale in retail fish outlets in Sinop, Turkey. The fish enterprises were determined by stratified sampling method. The enterprises were grouped as I (the most, II (moderate and III (the least according to the amount of their sales. Each group was represented by two different fish enterprises. During the study, prices of the same fish species were obtained twice a month at the same time of the day and the data were calculated as average ± SD. The differences between the groups were determined by one-way variance analysis (ANOVA and the price relation level between species was evaluated by the correlation analysis using IBM SPSS 21 Statisticssoftware. It was determined that sea bream (Sparus aurata, sea bass (Dicentrarhus labrax, rainbow trout (Oncorhyncus mykiss (portion size and kilos and salmon (Salmo salar (import were offered for sale in fish markets as cultured fish species. These species were sold during the fishing ban period (April-August. They were also sold starting from September when the fishing ban period ended up and the fishery products were at their lowest. For all the species, the differences between the pricesice were not significant between the sampled enterprises. The average values of the current prices were higher than that of 2008-2013 period. A negative strong relation was determined between the rainbow trout and the salmon.

  4. Foreign Military Sales: Millions of Dollars of Nonrecurring Research and Development Costs Have Not Been Recovered

    National Research Council Canada - National Science Library

    1998-01-01

    .... Foreign military sales are made on an individual case basis. The cases are initiated by a foreign country representative sending a letter of request to DOD asking for various information, such as precise price data...

  5. Sales Promotion and Consumer Loyalty: A Study of Nigerian Tecommunication Industry

    Directory of Open Access Journals (Sweden)

    Oyeniyi Omotayo

    2011-12-01

    Full Text Available In today’s competitive business world customers are considered to be kings. Customers have several choices to make among alternative products, and they exercise a high level of influence in the market with respect to product size, quality and price. Hence, it is important for producers to meet the needs of customers in order to stay competitive. One of the marketing communication tools that is used in attracting the attention of the customer and build their loyalty is sales promotion. The aim of this paper therefore is to determine the effect of sales promotion on customer loyalty in the telecommunication industry. In this study, the survey method was used in gathering information from the respondents. Simple random sampling was used to select a sample size of 310, while descriptive and inferential statistical analyses were conducted with the aid of SPSS software. Producers spend a large part of their total marketing communication expenses on sales promotion. Hence, this paper attempts to find the effect of sales promotion on customer loyalty using a sample of customers of mobile telecommunication services. The paper found that, there is positive relationship between sales promotion and customer loyalty. More importantly, it was discovered that non-loyal customers are more prone to switch to competing products as a result of sales promotion than loyal customers.

  6. 41 CFR 102-75.880 - When may Executive agencies conduct negotiated sales?

    Science.gov (United States)

    2010-07-01

    ... estimated fair market value of the property does not exceed $15,000; (b) Bid prices after advertising are...) The character or condition of the property or unusual circumstances make it impractical to advertise.... Negotiated sales to public bodies can only be conducted if a public benefit, which would not be realized from...

  7. 17 CFR 230.415 - Delayed or continuous offering and sale of securities.

    Science.gov (United States)

    2010-04-01

    ... majority-owned subsidiary; or (xi) Shares of common stock which are to be offered and sold on a delayed or... an existing trading market for outstanding shares of the same class at other than a fixed price. (5... and sale of securities. 230.415 Section 230.415 Commodity and Securities Exchanges SECURITIES AND...

  8. Price and Availability of Sugar-Free, Sugar-Reduced and Low Glycemic Index Cereal Products in Northwestern México.

    Science.gov (United States)

    Arámburo-Gálvez, Jesús G; Ontiveros, Noé; Vergara-Jiménez, Marcela J; Magaña-Ordorica, Dalia; Gracia-Valenzuela, Martina H; Cabrera-Chávez, Francisco

    2017-12-18

    Sugar-free (SF), sugar-reduced (SR), or low-glycemic-index (low GI) cereal products could be helpful for the dietary treatment of disorders related to glucose homeostasis. However, access and economic aspects are barriers that could hamper their consumption. Thus, the availability and price of such cereal products were evaluated in Northwestern México. The products were categorized in 10 groups. The data were collected in five cities by store visitation (from November 2015 to April 2016). The availability in specialized stores and supermarkets was expressed as availability rates based on the total number of products. The price of the SF, SR, and low GI products were compared with their conventional counterparts. Availability rates were higher in supermarkets than in specialized stores by product numbers (14.29% versus 3.76%, respectively; p snacks, and tostadas/totopos) had higher prices than their conventional counterparts ( p < 0.05). In conclusion, in Northwestern Mexico, the availability of SF, SR, and low GI cereal-based foods is relatively low, and these foods are more expensive than their conventional counterparts.

  9. Price and consumption of tobacco

    Directory of Open Access Journals (Sweden)

    Virendra Singh

    2012-01-01

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

  10. Economic forces push down selling prices of U.S. refineries

    International Nuclear Information System (INIS)

    Anon.

    1996-01-01

    Recent data on US refinery sales reveal that selling prices have continued to decline in the 1990s. Reasons for this decrease include increased plant investments to meet regulatory requirements, excess refining capacity, increased imports of refined products, and reduced margins. While these expenditures enable a refinery to continue operating, they do not make the refinery more profitable or valuable. Other factors contributing to reduced selling prices of US refineries are: declining local crude production; unstable crude costs; increased energy conservation; growing competition from alternative fuels

  11. Sociological Factors Affecting Agricultural Price Risk Management in Australia

    Science.gov (United States)

    Jackson, Elizabeth; Quaddus, Mohammed; Islam, Nazrul; Stanton, John

    2009-01-01

    The highly volatile auction system in Australia accounts for 85 percent of ex-farm wool sales, with the remainder sold by forward contract, futures, and other hedging methods. In this article, against the background of an extensive literature on price risk strategies, we investigate the behavioral factors associated with producers' adoption of…

  12. Price and inventory dynamics in petroleum product markets

    International Nuclear Information System (INIS)

    Considine, T.J.; Heo, Eunnyeong

    2000-01-01

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

  13. Factors Influencing Pricing Decision: Evidence from Non-Financial Firms in Nigeria

    Directory of Open Access Journals (Sweden)

    Luqman Olawale

    2017-02-01

    Full Text Available This study examines the significant factors influencing pricing decision in Nigeria. The study is based on the appraisal of the factors that influence pricing decision using 100 non-financial companies listed on the Nigeria Stock Exchange (NSE in 2013. The cross sectional data was obtained from annual reports of the sampled firms which were analyzed based on OrdinaryRegression model. The results revealed that cost of sales has an insignificant positive effect on pricing policy, while company’s objective and consumer perception has significant positive relationship on pricing policy. On the external determinants, market demand and availability of close substitute has a significant negative effect on pricing policy while macroeconomic trend and market segment has insignificant negative effect on pricing policy. This study therefore suggests among others that, effort should be made on reducing cost of production in order to maximize profit.

  14. Optimizing Household Chlorination Marketing Strategies: A Randomized Controlled Trial on the Effect of Price and Promotion on Adoption in Haiti.

    Science.gov (United States)

    Ritter, Michael; Camille, Eveline; Velcine, Christophe; Guillaume, Rose-Kerline; Lantagne, Daniele

    2017-07-01

    Household water treatment can reduce diarrheal morbidity and mortality in developing countries, but adoption remains low and supply is often unreliable. To test effects of marketing strategies on consumers and suppliers, we randomized 1,798 households in rural Haiti and collected data on purchases of a household chlorination product for 4 months. Households received randomly selected prices ($0.11-$0.56 per chlorine bottle), and half received monthly visits from sales agents. Each $0.22 drop in price increased purchases by 0.10 bottles per household per month ( P sales agents increased purchases at mid-range prices; however, the additional revenue did not offset visit cost. Choosing the lowest price and conducting visits maximizes chlorine purchase, whereas slightly raising the retail price and not conducting visits maximizes cost recovery. For the equivalent cost, price discounts increase purchases 4.2 times as much as adding visits at the current retail price. In this context, price subsidies may be a more cost-effective use of resources than household visits, though all marketing strategies tested offer cost-effective ways to achieve incremental health impact. Decisions about pricing and promotion for health products in developing countries affect health impact, cost recovery, and cost-effectiveness, and tradeoffs between these goals should be made explicit in program design.

  15. PRICE ELASTICITY OF SUPPLY OF BOTTLED QUALITY WHITE WINE IN THE CZECH REPUBLIC

    Directory of Open Access Journals (Sweden)

    Pavel SYROVÁTKA

    2014-11-01

    Full Text Available This paper is focused on the supply of the Czech producers of bottled quality white wine. Namely, a dependence of their sales of this wine category on the market price of bottled quality white wine was examined. Monthly data from the CZSO and SZIF database, years 2004–2012, were used for the price-supply analysis. Price-supply reactions of the Czech wine producers were investigated through two-stage cointegration method developed by Engle and Granger. Short-term and long-term price elasticity of studied market supply was based on the error correction model designed and statistically verified by the authors.

  16. World oil prices and domestic implications : a Russian perspective

    International Nuclear Information System (INIS)

    Khartukov, E.M.

    2001-01-01

    This paper presented an analysis of the impact of world oil prices on the future developments of Russia's oil sector and provided an international comparison of projected crude oil prices. The main factors that influence the price dynamics of the contemporary world oil market were described with reference to how these dynamics affect Russia's internal markets. World oil prices are determined by a mixture of politics and economics. The author suggested that Russian crude will not reach the desired parity with world oil prices. It was predicted that at the very best, by 2030, domestic crude oil sales will be 80 per cent of world-market proceeds. Russian refineries will enjoy cheaper feedstock. Regardless of future world price levels, the standstill in modernizing Russia's refining sector will further narrow the profit base, causing a massive run of Russian crude to more lucrative, external markets. It was emphasized that the survival of Russia's refining sector can only be guaranteed by radical upgrading of their outdated refineries. 4 refs., 2 tabs., 4 figs

  17. Do the Scandinavian consumers pay a "fair" price for German white wines?

    DEFF Research Database (Denmark)

    Bentzen, Jan Børsen; Smith, Valdemar

    The aim of this paper is to analyse the retail prices of German white wines sold in the Scandinavian countries. German white wines account for approximately 5-6 per cent of the total sale of wines - both red and white wines - in Denmark, Norway and Sweden. However, the market shares of German wines...... in Scandinavia have been declining for a number of years. Diminishing market shares may reflect changes in consumer tastes or simply 'wrong' prices, the latter related to both the level of wine prices (German wines being relatively expensive) and the structure of wine prices. In general, country-specific price...... differences for identical wines are expected to be a sign of differences in taxes, import prices, transportation costs as well as other costs - and also different competitive conditions at the retail level in the respective countries. Differences in wine prices across countries do not always reflect...

  18. 卖空约束下金融市场欧式期权定价研究%Pricing European Options in a Financial Market with Short-sale Constraints

    Institute of Scientific and Technical Information of China (English)

    黎露

    2012-01-01

    摘 要:针对存在卖空约束金融市场上的期权定价问题,总结了3种定价方法,并在讨论超复制方法的基础上计算出无套利区间和唯一平价.重点分析了在超复制方法的模型中考虑参数股息率g(t),得出了无套利区间端点的更加有效的表述形式.%Aiming at the option pricing method in a financial market with short - sale constraints,three most important methods in this area were summarized. And especially based on the super - replicating method, the arbitrage - free interval and the u-nique fair price were figured out. Furthermore,the new parameter - dividend rate g(t) in the model was investigated and a more effective representation was obtained for the endpoints of the arbitrage - free interval.

  19. Bayesian Option Pricing using Mixed Normal Heteroskedasticity Models

    DEFF Research Database (Denmark)

    Rombouts, Jeroen; Stentoft, Lars

    2014-01-01

    Option pricing using mixed normal heteroscedasticity models is considered. It is explained how to perform inference and price options in a Bayesian framework. The approach allows to easily compute risk neutral predictive price densities which take into account parameter uncertainty....... In an application to the S&P 500 index, classical and Bayesian inference is performed on the mixture model using the available return data. Comparing the ML estimates and posterior moments small differences are found. When pricing a rich sample of options on the index, both methods yield similar pricing errors...... measured in dollar and implied standard deviation losses, and it turns out that the impact of parameter uncertainty is minor. Therefore, when it comes to option pricing where large amounts of data are available, the choice of the inference method is unimportant. The results are robust to different...

  20. Does PPP hold for Big Mac price or consumer price index? Evidence from panel cointegration

    OpenAIRE

    Chien-Fu Chen; Chung-Hua Shen; Chien-An Wang

    2007-01-01

    This paper examines the validity of purchasing power parity (PPP) using CPI and Big Mac prices. The benchmark model, i.e., the OLS method, which does not take nonstationarity into account, rejects the hypothesis of PPP regardless of prices used. We next use the panel cointegration method to consider the nonstationary nature of variables. Estimated results for CPI are mixed. The PPP is rejected when the nominal exchange rate is employed as the dependent variable but is not rejected when the pr...

  1. 1 CFR 11.7 - Federal Register Index.

    Science.gov (United States)

    2010-01-01

    ... 1 General Provisions 1 2010-01-01 2010-01-01 false Federal Register Index. 11.7 Section 11.7... REGISTER PUBLICATIONS SUBSCRIPTIONS § 11.7 Federal Register Index. The annual subscription price for the monthly Federal Register Index, purchased separately, in paper form, is $29. The price excludes postage...

  2. Statistical Analysis Of The Share Price Movement Of Stocks ...

    African Journals Online (AJOL)

    This study was aimed at providing the investor with timing evidence in decisions with regards to the purchase of and sale of equities that will lead towards higher annual returns from his stock investment as well as to understand the causes and pattern of shares price movements as it affects investment decisions in the ...

  3. The deregulation effects of Finnish electricity markets on district heating prices

    International Nuclear Information System (INIS)

    Linden, Mikael; Peltola-Ojala, Paeivi

    2010-01-01

    This paper investigates an empirical econometric panel data model in order to test deregulation and regional market structure effects on district heating prices in Finland for period 1996-2002. The data was collected from 76 district heating firms throughout Finland. Special emphasis is placed on the modeling of policy-induced competition, which began in year 1999, regional based fuel selection, local market structures, and distribution network sharing effects. The results imply that the local structures of energy production and sales have an important role to play in the formation of market prices and that the price lowering effects of energy market deregulation are permanent. (author)

  4. Report of the Select Committee on Petroleum Product Pricing

    International Nuclear Information System (INIS)

    Dooks, B.

    2004-01-01

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

  5. 26 CFR 48.4216(a)-2 - Exclusions from sale price.

    Science.gov (United States)

    2010-04-01

    ... item of $10 is billed as tax, $100 is the taxable selling price and $10 is the amount of tax due... convenience, articles from a factory or port of entry to a warehouse or other facility (regardless of the... that the charge or expense properly is not to be included as a manufacturing or selling expense or is...

  6. How to Avoid the Usual Price Rule on the Fuel Market in the Czech Republic

    Directory of Open Access Journals (Sweden)

    Pavel Semerád

    2016-01-01

    Full Text Available The paper deals with value added tax evasions on the fuel market in the Czech Republic. This commodity is used in carousel fraud. In the chains of taxpayers there are missing traders who fail to meet their tax obligations. Their business strategy is based on quick sales at unusually low prices which do not allow honest parties to compete. Tax administrators should focus on unusual prices which constitute a higher probability of tax evasions. This paper aims to verify whether or not there are ways to evade the measure, focusing specifically on applying methods which could help achieve lower sales prices while avoiding the possibility to require unpaid tax from the recipients of taxable supply. The weaknesses thus found are described and demonstrated in more detail in the paper. During a research some ways were found which could be used for avoiding this specific measure. Methods of Cash Back and Free Shipping were identified and described.

  7. The Impact of Macroeconomic Fundamentals on Stock Prices Revisited: Evidence from Indian Data

    Directory of Open Access Journals (Sweden)

    Pramod Kumar NAIK

    2012-11-01

    Full Text Available The study investigates the relationships between the Indian stock market index (BSE Sensex and five macroeconomic variables, namely, industrial production index, wholesale price index, money supply, treasury bills rates and exchange rates over the period 1994:04–2011:06. Johansen’s co-integration and vector error correction model have been applied to explore the long-run equilibrium relationship between stock market index and macroeconomic variables. The analysis reveals that macroeconomic variables and the stock market index are co-integrated and, hence, a long-run equilibrium relationship exists between them. It is observed that the stock prices positively relate to the money supply and industrial production but negatively relate to inflation. The exchange rate and the short-term interest rate are found to be insignificant in determining stock prices. In the Granger causality sense, macroeconomic variable causes the stock prices in the long-run but not in the short-run. There is bidirectional causality exists between industrial production and stock prices whereas, unidirectional causality from money supply to stock price, stock price to inflation and interest rates to stock prices are found.

  8. Merchandising at the point of sale: differential effect of end of aisle and islands

    Directory of Open Access Journals (Sweden)

    Álvaro Garrido-Morgado

    2015-01-01

    Full Text Available Merchandising at point of sale comprises a set of techniques aimed at encouraging the purchase at the point of sale. This paper analyzes the impact on sales of two of these techniques, especially used in the context of non-specialized food stores and rarely distinguished in academic research: (1 the presentation of product in the ends of the aisles or main aisles, leading from the side aisle access and, (2 the presentation of the product in islands within the main aisles. This research combines cross-sectional and longitudinal data and analyzes specific information on sales and commercial stimulus for all references in two large categories of products from a hypermarket over ten weeks. Results show that both the ends of aisle and the islands have a positive effect on sales and their relative importance depends on the nature of the category analyzed. There are also greater synergies between ends of aisle and price promotions. Finally, the results provide some evidence into the impact of the extension or termination of these merchandising stimuli.

  9. Oil sales up, gasoline sales down

    International Nuclear Information System (INIS)

    Tusa, J.

    1999-01-01

    Sales of petroleum products rose by 4.3 % in 1998 compared to 1997, and totalled 9.15 million tonnes. Sales of traffic fuels increased by 1.1 %, and those of heating and fuel oil by 3.7 %. The last time sales of petroleum products were at an equivalent level was back in 1990

  10. The sales and marketing practices of English-language internet alcohol vendors.

    Science.gov (United States)

    Williams, Rebecca S; Schmidt, Allison

    2014-03-01

    This study aimed to fill information gaps about the sales and marketing practices of internet alcohol vendors and their implications for addressing youth access and other legal violations. Further, it aimed to expand the limited scientific literature on internet alcohol sales using systematic survey methods to inform future efforts to regulate this industry and prevent sales to minors. The design was a cross-sectional website content analysis survey. [Not applicable]. A total of 105 internet alcohol vendor websites. Six key content analysis topics were explored: products offered, average prices and proportions of vendors using different promotions, policy statements and methods for age verification, payment and delivery. Websites sell and promote a variety of alcohol products, offered as cheaply as $1.93 for a 750-ml bottle. Vendors rely heavily upon age verification methods that are unlikely to prevent sales to minors. Many vendors advertise shipping of products via methods through which it is illegal or against delivery company policies to transport alcohol, and 99% of vendors accept credit cards. Limiting and enforcing delivery and payment options are types of policy interventions that have been used successfully with internet cigarette vendors that may be applicable to internet alcohol vendors as well. Internet alcohol vendor practices are insufficient to prevent sales to minors, and need further regulation and enforcement of existing policies. Their sales practices are similar to those of internet cigarette vendors prior to regulation, and similar regulatory approaches may be effective in reducing internet alcohol sales to minors. © 2013 Society for the Study of Addiction.

  11. Analyzing the relationship between advertising and sales promotion with brand equity

    Directory of Open Access Journals (Sweden)

    Haim Hilman

    2017-04-01

    Full Text Available In today’s competitive business environment, customers are considered to be the source of brand success. Customers have numerous choices to form among alternative products, and they apply a high level of effect in the market with regard to several aspects such as quality, product size, services, and price. Hence, it is very important for manufacturers to meet customers’ needs in order to stay competitive. Advertising and sales promotion are considered as the main tools of marketing communication which is influential in attracting the attention of the customer and building brand equity. Advertising and sales promotions are highly effective in affecting consumer purchase decisions of a particular brand. The main purpose of this paper is to analyze the link between advertising and sales promotion with brand equity. It reviews the past studies on the above-mentioned variables and provides some clarification to the nature of relationship existing between them.

  12. The 1996 global economic outlook: Skirting the edge

    International Nuclear Information System (INIS)

    Lieberman, C.

    1996-01-01

    The paper consists of data on global economics including charts on output per hour in private nonfarm business sector; labor force growth; payroll employment; civilian employment; hours worked/week in manufacturing; growth in manhours; civilian unemployment rate; inflation versus unemployment; wage inflation; unit labor costs; capacity utilization; durable goods backlogs; change in nonfarm business inventories; inflation-adjusted inventories relative to sales; home sales; housing starts; real disposable income and consumption; savings; household debt; office vacancy rates; nonresidential construction; trade balance; real growth in US versus the rest of the G-7; US export growth; consumer price index; and producer price index

  13. Why Banning Embedded Sales Commissions Is a Public Policy Issue

    OpenAIRE

    Henri-Paul Rousseau

    2017-01-01

    Regulatory authorities have consulted on the option of banning embedded sales commissions for Canadian financial advisors. Such an action would create more problems than it would solve. It would have serious ramifications for Canadians’ access to financial advice and raise issues of choice, industry concentration and price transparency for clients seeking advice on investments and retirement. Financial advisors have much greater knowledge of investments than their clients, who rightly expect ...

  14. The Equilibrium Decisions in a Two-Echelon Supply Chain under Price and Service Competition

    Directory of Open Access Journals (Sweden)

    Xiaonan Han

    2014-07-01

    Full Text Available This article studies a supply chain composed of a manufacturer and two competing retailers. The manufacturer produces two substitutable products and offers respective service levels to customers who buy one of the two products. Each retailer can only order one kind of product from the manufacturer, and then sell them to the market at a certain sale price. The demands for two products are influenced not only by the service levels the manufacturer provides, but also the sales prices of the two products. Furthermore, we investigate the equilibrium behavior of members in the supply chain with the aid of the Stackelberg game, and discover a number of insights concerning some important parameters. Finally, Numerical analysis is presented to validate our theoretical results and compare channel performances.

  15. Sales of diesel fuel up, gasoline sales down

    International Nuclear Information System (INIS)

    Nupponen, J.

    2000-01-01

    The combined sales of petroleum products in Finland during 1999 totalled more than nine million tonnes, which was little changed from the figure for 1998. Sales of traffic fuels increased, while those of fuel oil fell. Diesel fuel sales reached a record level, while sales of gasoline continued their downward trend

  16. 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

  17. Environmental factors influencing fluctuation of share prices on ...

    African Journals Online (AJOL)

    Environmental factors influencing fluctuation of share prices on Nigeria stock exchange market. ... What are these environmental variables that affect the fluctuation of share prices in Nigeria? ... The results show inflation, money supply, total deficits index of industrial production, interest rate and GDP influence stock prices.

  18. 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.

  19. 21 CFR 1314.100 - Sales limits for mail-order sales.

    Science.gov (United States)

    2010-04-01

    ... 21 Food and Drugs 9 2010-04-01 2010-04-01 false Sales limits for mail-order sales. 1314.100 Section 1314.100 Food and Drugs DRUG ENFORCEMENT ADMINISTRATION, DEPARTMENT OF JUSTICE RETAIL SALE OF SCHEDULED LISTED CHEMICAL PRODUCTS Mail-Order Sales § 1314.100 Sales limits for mail-order sales. (a) Each...

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

    Directory of Open Access Journals (Sweden)

    K. Jeyakumar

    2010-03-01

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

  1. An Analysis of the Effects of Photovoltaic Energy Systems on Residential Selling Prices in California.

    Energy Technology Data Exchange (ETDEWEB)

    Cappers, Peter; Wiser, Ryan; Thayer, Mark; Hoen, Ben

    2011-04-12

    An increasing number of homes with existing photovoltaic (PV) energy systems have sold in the U.S., yet relatively little research exists that estimates the marginal impacts of those PV systems on the sales price. A clearer understanding of these effects might influence the decisions of homeowners, home buyers and PV home builders. This research analyzes a large dataset of California homes that sold from 2000 through mid-2009 with PV installed. Across a large number of hedonic and repeat sales model specifications and robustness tests, the analysis finds strong evidence that homes with PV systems sold for a premium over comparable homes without. The effects range, on average, from approximately $3.9 to $6.4 per installed watt (DC), with most models coalescing near $5.5/watt, which corresponds to a premium of approximately $17,000 for a 3,100 watt system. The research also shows that, as PV systems age, the premium enjoyed at the time of home sale decreases. Additionally, existing homes with PV systems are found to have commanded a larger sales price premium than new homes with similarly sized PV systems. Reasons for this discrepancy are suggested, yet further research is warranted in this area as well as a number of other areas that are highlighted.

  2. Incorporating price-responsive customers in day-ahead scheduling of smart distribution networks

    International Nuclear Information System (INIS)

    Mazidi, Mohammadreza; Monsef, Hassan; Siano, Pierluigi

    2016-01-01

    Highlights: • Proposing a model for incorporating price-responsive customers in day-ahead scheduling of smart distribution networks; this model provides a win–win situation. • Introducing a risk management model based on a bi-level information-gap decision theory and recasting it into its equivalent single-level robust optimization problem using Karush–Kuhn–Tucker optimality conditions. • Utilizing mixed-integer linear programing formulation that is efficiently solved by commercial optimization software. - Abstract: Demand response and real-time pricing of electricity are key factors in a smart grid as they can increase economic efficiency and technical performances of power grids. This paper focuses on incorporating price-responsive customers in day-ahead scheduling of smart distribution networks under a dynamic pricing environment. A novel method is proposed and formulated as a tractable mixed integer linear programming optimization problem whose objective is to find hourly sale prices offered to customers, transactions (purchase/sale) with the wholesale market, commitment of distribution generation units, dispatch of battery energy storage systems and planning of interruptible loads in a way that the profit of the distribution network operator is maximized while customers’ benefit is guaranteed. To hedge distribution network operator against financial risk arising from uncertainty of wholesale market prices, a risk management model based on a bi-level information-gap decision theory is proposed. The proposed bi-level problem is solved by recasting it into its equivalent single-level robust optimization problem using Karush–Kuhn–Tucker optimality conditions. Performance of the proposed model is verified by applying it to a modified version of the IEEE 33-bus distribution test network. Numerical results demonstrate the effectiveness and efficiency of the proposed method.

  3. Report on ENGIE's regulated tariffs for gas sale - Audit supply costs and non-supply related costs. Deliberation of the Commission for energy regulation on the 25 May 2016 bearing approval of the audit report on supply costs and non-supply related costs as basis for the calculation of the evolution of ENGIE's regulated tariffs for natural gas sale

    International Nuclear Information System (INIS)

    Ladoucette, Philippe De; Edwige, Catherine; Gassin, Helene; Padova, Yann; Sotura, Jean-Pierre

    2016-05-01

    After a recall of the context and objectives of the analysis performed by the French Commission for Energy Regulation (CRE), and a synthetic presentation of the main conclusions, this report first proposes an assessment for 2015 by discussing the share of consumptions provided under the regulated tariff with respect to those provided on the retail market, the evolution of these tariffs, by noticing that ENGIE costs have been covered by income associated with sales at regulated tariffs. The second part addresses perspectives of evolution for supply costs by outlining the existence of market indexing, the lack of factors which would justify an evolution of gas price indexing level, and a possible reviewing of indices at the moment of revision of the indexing formula. The third part addresses the perspectives of evolution of non-supply related costs. It notices the impact of recent evolution of infrastructure costs, some lack of information regarding provisional trade costs, and a significant decrease of these costs for 2016

  4. Commercial sales: the Common European Sales Law compared to the Vienna Sales Convention

    NARCIS (Netherlands)

    Loos, M.B.M.; Schelhaas, H.

    2013-01-01

    If the Common European Sales Law (CESL) is adopted, commercial parties will have the opportunity to choose between two international legal instruments for the regulation of their international commercial sales contracts. Whereas CESL is available to both consumer and commercial sales contracts, the

  5. Global economic activity and crude oil prices. A cointegration analysis

    International Nuclear Information System (INIS)

    He, Yanan; Wang, Shouyang; Lai, Kin Keung

    2010-01-01

    This paper empirically investigates the cointegrating relationship between crude oil prices and global economic activity. The Kilian economic index is used as an indicator of global economic activity. Based on a supply-demand framework and the cointegration theory, we find that real futures prices of crude oil are cointegrated with the Kilian economic index and a trade weighted US dollar index, and crude oil prices are influenced significantly by fluctuations in the Kilian economic index through both long-run equilibrium conditions and short-run impacts. We also develop an empirically stable, data-coherent and single-equation error-correction model (ECM) which has sensible economic properties. Empirical results based on the ECM show that the adjustment implied by a permanent change in the Kilian economic index is a relatively drawn-out process. (author)

  6. Store-directed price promotions and communications strategies improve healthier food supply and demand: impact results from a randomized controlled, Baltimore City store-intervention trial.

    Science.gov (United States)

    Budd, Nadine; Jeffries, Jayne K; Jones-Smith, Jessica; Kharmats, Anna; McDermott, Ann Yelmokas; Gittelsohn, Joel

    2017-12-01

    Small food store interventions show promise to increase healthy food access in under-resourced areas. However, none have tested the impact of price discounts on healthy food supply and demand. We tested the impact of store-directed price discounts and communications strategies, separately and combined, on the stocking, sales and prices of healthier foods and on storeowner psychosocial factors. Factorial design randomized controlled trial. Twenty-four corner stores in low-income neighbourhoods of Baltimore City, MD, USA. Stores were randomized to pricing intervention, communications intervention, combined pricing and communications intervention, or control. Stores that received the pricing intervention were given a 10-30 % price discount by wholesalers on selected healthier food items during the 6-month trial. Communications stores received visual and interactive materials to promote healthy items, including signage, taste tests and refrigerators. All interventions showed significantly increased stock of promoted foods v. There was a significant treatment effect for daily unit sales of healthy snacks (β=6·4, 95 % CI 0·9, 11·9) and prices of healthy staple foods (β=-0·49, 95 % CI -0·90, -0·03) for the combined group v. control, but not for other intervention groups. There were no significant intervention effects on storeowner psychosocial factors. All interventions led to increased stock of healthier foods. The combined intervention was effective in increasing sales of healthier snacks, even though discounts on snacks were not passed to the consumer. Experimental research in small stores is needed to understand the mechanisms by which store-directed price promotions can increase healthy food supply and demand.

  7. Oil prices and financial stress: A volatility spillover analysis

    International Nuclear Information System (INIS)

    Nazlioglu, Saban; Soytas, Ugur; Gupta, Rangan

    2015-01-01

    This paper examines whether there is a volatility transmission between oil prices and financial stress by means of the volatility spillover test. We employ WTI crude oil prices and Cleveland financial stress index for the period 1991–2014 and divide the sample into pre-crisis, in-crisis, and post-crisis periods due to the downward trend in oil price in 2008. The volatility model estimations indicate that oil prices and financial stress index are dominated by long-run volatility. The volatility spillover causality test supports evidence on risk transfer from oil prices to financial stress before the crisis and from financial stress to oil prices after the crisis. The impulse response analysis shows that the volatility transmission pattern has similar dynamics before and after the crisis and is characterized by higher and long-lived effects during the crisis. Our results have implications for both policy makers and investors, and for future work. -- Highlights: •Volatility spillover between oil prices and financial stress index is examined. •Analysis is conducted for sub-periods: pre-crisis, in-crisis, and post-crisis •Oil prices spill on financial stress before the crisis, but spillover reversed after the crisis. •Volatility transmission pattern has similar dynamics before and after the crisis. •Implications for investors and policy makers are discussed

  8. Sales Education Efficacy: Examining the Relationship between Sales Education and Sales Success

    Science.gov (United States)

    Bolander, William; Bonney, Leff; Satornino, Cinthia

    2014-01-01

    Sales education is on the rise and for good reason. Statistics say that sales jobs will continue to grow at a rapid rate over the next few years. Many universities are preparing their students to start their careers in the professional selling function through the inclusion of sales education in their business curriculum. Yet little research…

  9. Pricing products: juxtaposing affordability with quality appeal.

    Science.gov (United States)

    1984-01-01

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

  10. DOMESTIC AND FORIGN FACTORS FOR STOCK PRICES IN INDONESIA

    Directory of Open Access Journals (Sweden)

    Rahajeng Cahyaning Putri Cipto

    2011-09-01

    Full Text Available Indonesia has been developing various sectors of its economy, and so it needs a huge amount of capital. Therefore, it has been putting a lot of efforts to develop its capital market. This paper analyzes the impacts of domestic and foreign factors on Indonesia stock price. Some considered domestic factors are interest rates, production index, and foreign exchange rates. Various considered foreign factors are Singapore and US stock prices. The paper uses Vector Error Correction Mechanism model to analyze the data. The estimation results suggest that all variables significantly influence Indonesia stock price, with Singapore stock price as the dominant factors.Keywords: Stock price, interest rates, exchange rates, production indexJEL classification numbers: G12, G15

  11. Discounts on fruit and vegetables combined with a space management intervention increased sales in supermarkets

    DEFF Research Database (Denmark)

    Toft, U.; Winkler, L. L.; Mikkelsen, B. E.

    2017-01-01

    were found. CONCLUSIONS: In conclusion, a 20% price reduction on F&V significantly increased sales of F&V. The effect was most pronounced on vegetables and no negative/unhealthy substitution effects were found.European Journal of Clinical Nutrition advance online publication, 1 February 2017; doi:10.1038...

  12. Analisis Pengaruh Economic Value Added, Price Earning Ratio, Debt to Equity Ratio, Price Book Value, Pertumbuhan Penjualan Terhadap Harga Saham dengan Dividend Per Share sebagai Variabel Moderating pada Perusahaan Manufaktur yang Terdaftar di BEI Tahun 2010-2013

    OpenAIRE

    Matondang, Puteri Utami

    2015-01-01

    The purpose of this study was to determine the effect of Economic Value Added (EVA), Price Earning Ratio (PER), Debt to Equity Ratio (DER), Price Book Value (PBV), and Sales Growth to the stock price with Dividend Per Share (DPS) as moderating variable onmanufacturing company listed on Indonesian Stock Exchange from 2010 -2013. The population of this study was 124 manufacturing companies registered in the Indonesian Stock Exchange from 2010-2013 and 20 companies were selected to be the sample...

  13. Pricing strategies for combination pediatric vaccines based on the lowest overall cost formulary.

    Science.gov (United States)

    Behzad, Banafsheh; Jacobson, Sheldon H; Sewell, Edward C

    2012-10-01

    This paper analyzes pricing strategies for US pediatric combination vaccines by comparing the lowest overall cost formularies (i.e., formularies that have the lowest overall cost). Three pharmaceutical companies compete pairwise over the sale of monovalent and combination vaccines. Particular emphasis is placed on examining the price of Sanofi Pasteur's DTaP-IPV/HIb under different conditions. The main contribution of the paper is to provide the lowest overall cost formularies for different prices of DTaP-IPV/HIb and other Sanofi Pasteur vaccines. The resulting analysis shows that DTaP-IPV/HIb could have been more competitively priced compared with the combination vaccine DTaP-HepB-IPV, for federal contract prices in 2009, 2010 and 2011. This study also proposes the lowest overall cost formularies when shortages of monovalent vaccines occur.

  14. Economic analysis of coal price-electricity price adjustment in China based on the CGE model

    International Nuclear Information System (INIS)

    He, Y.X.; Zhang, S.L.; Yang, L.Y.; Wang, Y.J.; Wang, J.

    2010-01-01

    In recent years, coal price has risen rapidly, which has also brought a sharp increase in the expenditures of thermal power plants in China. Meantime, the power production price and power retail price have not been adjusted accordingly and a large number of thermal power plants have incurred losses. The power industry is a key industry in the national economy. As such, a thorough analysis and evaluation of the economic influence of the electricity price should be conducted before electricity price adjustment is carried out. This paper analyses the influence of coal price adjustment on the electric power industry, and the influence of electricity price adjustment on the macroeconomy in China based on computable general equilibrium models. The conclusions are as follows: (1) a coal price increase causes a rise in the cost of the electric power industry, but the influence gradually descends with increase in coal price; and (2) an electricity price increase has an adverse influence on the total output, Gross Domestic Product (GDP), and the Consumer Price Index (CPI). Electricity price increases have a contractionary effect on economic development and, consequently, electricity price policy making must consequently consider all factors to minimize their adverse influence.

  15. Higher price, fewer packs: evaluating a tobacco tax increase with cigarette sales data.

    Science.gov (United States)

    Amato, Michael S; Boyle, Raymond G; Brock, Betsy

    2015-03-01

    In 2013, Minnesota increased cigarette taxes by $1.75, the largest US state increase since 2000. We obtained convenience store data of cigarette sales from January 2012 to December 2013 from the Nielsen Company. Analysis revealed significantly greater year-to-year reductions in numbers of packs purchased during posttax (-12.1%) than pretax (-3.2%; Pstrategy.

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

    International Nuclear Information System (INIS)

    Beck, R.J.; Bell, L.

    1996-01-01

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

  17. Gasoline standard Motor monthly Prices, Projection and Impact, during 1999

    International Nuclear Information System (INIS)

    Unidad de Planeacion Minero Energetica, UPME

    1999-01-01

    The liberation of prices for the standard gasoline and ACPM, that was given starting from January of 1.999, it outlines uncertainties on the possible prices evolution, along the supply chain until the final user, in comparison with the system previous of control and adjustment. This article presents an approach to the possible evolution of the gasoline motor prices during 1.999, in their different components. It makes it from the entrance to the producer until when one sells the public to a maximum price that includes the super tax. Additionally, it makes a preliminary calculation of the impact of the prices prospective month to month on the cost of transport of ECOPETROL revenues and the Nation revenues. The prospective annual percentage variation is presented from the entrance to the producer and of the other components of the price of the standard gasoline motor in different scenarios of the rate variation. In the most probable scenario, a variation is expected from the entrance to the producing of 1,9% and an increment in the sale price to the public, without including the super tax, of 12,6%

  18. SELECTING THE WAY OF MEASURING THE PRICE EVOLUTION USING THE METHOD OF INDICES

    Directory of Open Access Journals (Sweden)

    Mihai GHEORGHE

    2012-09-01

    Full Text Available The price indices have a long history and a large variety of uses, from the adjustment of the wages, pensions and payments included in a long-term contract, the deflation of aggregates in National Accounts, to the elaboration of economic policies.Having identified the purpose of the index, we`ll have to choose the target index and the calculation formula, this operation being carried out based on the observed prices and on the quantity and quality weights.In the statistical practice, the price index is often calculated by aggregating the elementary indices using the weighted arithmetic mean, using annual weights from a period that is previous to the reference period.In this situation, the question about the possible impact of the weights update (by prices on the interpretation of price indices becomes legitimate, also the question about the influence of using this approach on measuring the price change. We can get a possible answer to this question using the Lowe and Young indices introduced by the Consumer Price Index international manual.

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

    Energy Technology Data Exchange (ETDEWEB)

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

    2012-11-01

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

  20. Prices, taxes and automotive fuel cross-border shopping

    International Nuclear Information System (INIS)

    Leal, Andres; Lopez-Laborda, Julio; Rodrigo, Fernando

    2009-01-01

    The aim of the present paper is to determine whether differences in automotive fuel prices among neighboring Autonomous Communities (i.e. Spanish political-administrative regions) affect the decisions taken by individuals regarding the region in which to purchase fuel. In particular, the intention is to discover if price increases in certain Autonomous Communities, as a result of the application of the regional tranche of the Hydrocarbon Retail Sales Tax (HRST) has affected fuel purchases in neighboring Communities. In order to achieve the above-mentioned objectives, the monthly purchases of automotive diesel in Aragon between January 2001 and March 2007 is estimated from the fuel price in Aragon, the relation between prices in each of the bordering Communities and Aragon, weighted by density of traffic, the number of vehicles registered in that Community, and three dummy variables representative of the implementation of the regional tranche of the HRST in Madrid, Catalonia, and Valencia. The paper finds empirical evidence to demonstrate a positive effect of the relative prices in the neighboring Communities and vehicle registrations, and also a negative effect of prices in Aragon, upon the acquisition of diesel in this region. In the case of Catalonia, some evidence suggests that the price effect may have been strengthened following the introduction of the regional tranche of the HRST in August 2004. (author)