WorldWideScience

Sample records for spot markets fiat

  1. Spot market for uranium

    International Nuclear Information System (INIS)

    Colhoun, C.

    1982-01-01

    The spot market is always quoted for the price of uranium because little information is available about long-term contracts. A review of the development of spot market prices shows the same price curve swings that occur with all raw materials. Future long-term contracts will probably be lower to reflect spot market prices, which are currently in the real-value range of $30-$35. An upswing in the price of uranium could come in the next few months as utilities begin making purchases and trading from stockpiles. The US, unlike Europe and Japan, has already reached a supply and demand point where the spot market share is increasing. Forecasters cannot project the market price, they can only predict the presence of an oscillating spot or a secondary market. 5 figures

  2. Oil futures and spot markets

    International Nuclear Information System (INIS)

    Samii, M.V.

    1992-01-01

    In the last decade, the oil futures market has risen to prominence and has become a major factor in influencing oil market psychology and the crude oil market. On a normal day, over 92 thousand contracts, the equivalent of 92 million barrels per day, change hands on the New York Mercantile Exchange, NYMEX. This market has provided a vehicle for hedging against risk. At the same time, it has also created opportunities for speculation. Those who previously were unable to participate in oil market transactions can now become involved through the futures market. The large number of participants in the future market and the availability of information has made this market more efficient and transparent, relative to the crude oil market. While there has been considerable in-depth analysis of other future markets, relatively little theoretical attention has focused on that of oil. This paper looks at the following issues. First, what is the relationship between futures and spot oil prices? And secondly, are futures prices a good predictor of spot crude prices in the future? (author)

  3. 7 CFR 27.93 - Bona fide spot markets.

    Science.gov (United States)

    2010-01-01

    ... REGULATIONS COTTON CLASSIFICATION UNDER COTTON FUTURES LEGISLATION Regulations Spot Markets § 27.93 Bona fide spot markets. The following markets have been determined, after investigation, and are hereby... 7 Agriculture 2 2010-01-01 2010-01-01 false Bona fide spot markets. 27.93 Section 27.93...

  4. A new index for electricity spot markets

    International Nuclear Information System (INIS)

    Falbo, Paolo; Fattore, Marco; Stefani, Silvana

    2010-01-01

    Different indexes are used in electricity markets worldwide to represent the daily behavior of spot prices. However, the peculiarities of these markets require a careful choice of the index, based on mathematical formulation and its statistical properties. Choosing a bad index may influence the financial policies of market players, since derivative pricing and hedging performance can be deeply affected. In this paper with an initial theoretical analysis, we intend to show that the most widely used indexes (simple arithmetic average and weighted average with current volumes) are poor representatives of the spot market. We will then perform an analysis of the hedging strategy on a derivative instrument (an Asian option) written on a reference index. The resulting simulations, applied to OMEL (Spain) and EEX (Germany), are sufficiently clear cut to suggest that the decision to adopt an index to represent properly a market must be taken very carefully. Finally we will propose a new index (FAST index) and, after comparing it with the previous indexes, will show that both theoretically and practically this index can be taken as a good electricity market synthetic indicator. (author)

  5. La Fiat e la AutoVAZ di Togliatti. Alla ricerca del fordismo perduto

    Directory of Open Access Journals (Sweden)

    Valentina Fava

    2013-01-01

    Full Text Available In 1966 Vittorio Valletta, Fiat president, and the representatives of the Soviet Government signed the agreement that led to the building of the VAZ -Volzhsky Avtomobilny Zavod, a gigantic automobile plant. The Fiat-Soviet plant fostered the entrance of the Soviet Union (USSR in the «Automotive Century» and gave place to the first massive East-West transfer of technology and knowledge in the automobile sector of the century. The paper underscores the reasons of Fiat interest in the Soviet market, underlying how the deal had been coordinated with the Italian entrepreneurial elites and partially backed by the American Administration. Furthermore, the paper sheds light on the channels that Fiat used to enter in the Soviet market - focusing especially Fiat's agent, Piero Savoretti.

  6. Feast or famine: 1992 spot market review

    Energy Technology Data Exchange (ETDEWEB)

    1993-01-01

    There was nothing temperate about the uranium spot market in 1992. It was a year of extremes. Demand took off at a brisk pace early in the year as utilities, enticed by low U3O8 prices and interest rates, stepped up their discretionary purchases. With the NUKEM price range sinking to an all-time low of US$6.75-7.70 in November 1991, utilities reckoned that prices had bottomed out and decided to buy and hold material. Indeed, the upper end of NUKEM's range remained below $8.00 per lb for much of the first half of 1992. The main cause of low prices was the flood of imports from the crumbling Soviet Union and its successor, the Commonwealth of Independent States [CIS]. The CIS republics quickly embraced a free-market philosophy to boost their faltering economies, and several hoped to use uranium as a source of badly-needed hard currency. But they were about to get a harsh introduction to capitalism. It came in the form of government intervention, in both the US and Europe. In May, the US Department of Commerce made its preliminary determination that the uranium-producing republics of the CIS were selling material in the US at less than fair market value. The antidumping case was eventually settled in October when the CIS republics [Russia, Ukraine, Uzbekistan, Kazakhstan, Tajikistan and Kyrgyzstan] signed suspension agreements subjecting CIS origin uranium to price and quantity quotas in the US.

  7. Spot market activity remains weak as prices continue to fall

    International Nuclear Information System (INIS)

    Anon.

    1996-01-01

    A summary of financial data for the uranium spot market in November 1996 is provided. Price ranges for the restricted and unrestricted markets, conversion, and separative work are listed, and total market volume and new contracts are noted. Transactions made are briefly described. Deals made and pending in the spot concentrates, medium and long-term, conversion, and markets are listed for U.S. and non-U.S. buyers. Spot market activity increased in November with just over 1.0 million lbs of U3O8 equivalent being transacted compared to October's total of 530,000 lbs of U3O8 equivalent. The restricted uranium spot market price range slipped from $15.50-$15.70/lb U3O8 last month to $14.85/lb - $15.25/lb U3O8 this month. The unrestricted uranium spot market price range also slipped to $14.85/lb - $15.00/lb this month from $15.00/lb - $15.45/lb in October. Spot prices for conversion and separative work units remained at their October levels

  8. Price dynamics among U.S. electricity spot markets

    International Nuclear Information System (INIS)

    Park, Haesun; Mjelde, James W.; Bessler, David A.

    2006-01-01

    Combining recent advances in causal flows with time series analysis, relationships among 11 U.S. spot market electricity prices are examined. Results suggest that the relationships among the markets vary by time frame. In contemporaneous time, the western markets are separated from the eastern markets and the Electricity Reliability Council of Texas. At longer time frames these separations disappear, even though electricity transmission between the regions is limited. It appears the relationships among markets are not only a function of physical assets (such as transmissions lines among markets), but by similar and dissimilar institutional arrangements among the markets. (Author)

  9. 7 CFR 27.96 - Quotations in bona fide spot markets.

    Science.gov (United States)

    2010-01-01

    ... determined by the sale of spot cotton in such spot market. Quotations shall be determined and maintained in each designated spot market by the Cotton Division, Agricultural Marketing Service, USDA, as follows... 7 Agriculture 2 2010-01-01 2010-01-01 false Quotations in bona fide spot markets. 27.96 Section 27...

  10. 7 CFR 27.94 - Spot markets for contract settlement purposes.

    Science.gov (United States)

    2010-01-01

    ... CONTAINER REGULATIONS COTTON CLASSIFICATION UNDER COTTON FUTURES LEGISLATION Regulations Spot Markets § 27.94 Spot markets for contract settlement purposes. The following are designated as spot markets for... 7 Agriculture 2 2010-01-01 2010-01-01 false Spot markets for contract settlement purposes. 27.94...

  11. Measuring competitiveness of the EPEX spot market for electricity

    International Nuclear Information System (INIS)

    Graf, Christoph; Wozabal, David

    2013-01-01

    The issue of market concentration in electricity markets and resulting possible anti-competitive behavior of producers is a much discussed topic in many countries. We investigate the day-ahead market for electricity at the EPEX, the largest central European market for electricity. To analyze whether generating companies use their market power to influence prices, we use a conjectural variations approach as well as a direct approach to construct marginal costs of electricity production. Given the available data, we cannot reject the hypothesis that there was no systematic abuse of market power by the suppliers of electricity on the EPEX day-ahead spot market for the years 2007–2010. These results are essentially robust when restricting the sample to high load hours, which are generally considered to be the most prone to market manipulation. -- Highlights: •We investigate the efficiency of the German spot market for electricity. •We employ a conjectural variations approach and a fundamental market model. •Peak load hours and base load hours are analyzed separately. •We find that the market was competitive from 2007 to 2010 for both base and peak hours. •Policies to promote market transparency in Germany can be regarded as successful

  12. Interactions between the German Electricity Spot Market and the Reserve Energy Market

    International Nuclear Information System (INIS)

    Graeber, Bernhardt

    2005-01-01

    Eight years after market opening, Germany has well established spot and future markets for electricity. Besides OTC and Internet broker platforms the main market place is the European Energy Exchange in Leipzig (EEX) with its spot and future market. Less known is the reserve energy market in Germany. The four German transmission system operators (TSOs) EnBW, EON, RWE and Vattenfall purchase network services on the reserve energy market. Products with specific technical requirements are primary, secondary and tertiary reserve. (Details about the technical requirements and typical means for providing the required services will be presented.) Each TSO organises a separate auction for these products - for primary and secondary reserve half-yearly, for tertiary reserve daily. Due to the technical requirements the liquidity on these markets is limited, but especially on the tertiary reserve market it is recently growing significantly due to new participants marketing several smaller municipal and industrial reserve power plants as combined bids which meet the 30 MW min. capacity requirement. Every power plant or interruptible load could not only be offered as capacity on the reserve market but could also be dispatched for the spot market. Therefore the developments of prices on these markets are not independent and opportunity costs against the spot market can be estimated for different type of plants bidding in the reserve market. Another interaction between reserve and spot market is caused by the balancing price system in Germany. Prices for balancing energy meeting deviations between load, trading balance and production of a market participant are based on quarter-hourly reserve energy costs encountered by the TSO. As unbiased load and production forecasts are not strictly enforced by the TSOs so far, part of the planned demand could be met with balancing energy if EEX spot market prices rise above expected balancing energy prices. This interrelationship has a

  13. Microstructure and Execution Strategies in the Global Spot FX Market

    Science.gov (United States)

    Schmidt, Anatoly B.

    Modern global inter-bank spot foreign exchange is essentially a limit-order market. Execution strategies in such a market may differ from those in markets that permit market orders. Here we describe microstructure and dynamics of the EBS market (EBS being an ICAP company is the leading institutional spot FX electronic brokerage). In order to illustrate specifics of the limit-order market, we discuss two problems. First, we describe our simulations of maker loss in case when the EUR/USD maker order is pegged to the market best price. We show that the expected maker loss is lower than the typical bid/offer spread. Second, we discuss the problem of optimal slicing of large orders for minimizing execution costs. We start with analysis of the expected execution times for the EUR/USD orders submitted at varying market depth. Then we introduce a loss function that accounts for the market volatility risk and the order's P/L in respect to the market best price. This loss function can be optimized for given risk aversion. Finally, we apply this approach to slicing large limit orders.

  14. Effects of series compensation on spot price power markets

    International Nuclear Information System (INIS)

    Shrestha, G.B.; Wang Feng

    2005-01-01

    The operation of a deregulated power market becomes more complex as the generation scheduling is dependent on suppliers' and consumers' bids. With large number of transactions in the power market changing in time, it is more likely for some transmission lines to face congestion. Series compensation, such as TCSC, with its ability to directly control the power flow can be very helpful to improve the operation of transmission networks. The effects of TCSC on the operation of a spot price power market are studied in this paper using the modified IEEE 14-bus system. Optimal Power Flow incorporating TCSC is used to implement the spot price market. Linear bids are used to model suppliers' and consumers' bids. Issues of location and cost of TCSC are discussed. The effects of levels of TCSC compensation on wide range of system quantities are studied. The effects on the total social benefit, the spot prices, transmission congestion, total generation and consumption, benefit to individual supplier and consumer etc. are discussed. It is demonstrated that though use of TCSC makes the system more efficient and augments competition in the market, it is not easy to establish general relationships between the levels of compensation and various market quantities. Simulation studies like these can be used to assess the effects of TCSC in specific systems. (Author)

  15. 78 FR 9330 - Revision of Regulations Defining Bona Fide Cotton Spot Markets

    Science.gov (United States)

    2013-02-08

    ... Defining Bona Fide Cotton Spot Markets AGENCY: Agricultural Marketing Service, USDA. ACTION: Proposed rule... which states compose bona fide cotton spot markets in order to assure consistency with the revised Cotton Research and Promotion Act. Updated bona fide spot market definitions will allow for published...

  16. 7 CFR 27.95 - Spot markets to conform to Act and regulations.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Spot markets to conform to Act and regulations. 27.95... CONTAINER REGULATIONS COTTON CLASSIFICATION UNDER COTTON FUTURES LEGISLATION Regulations Price Quotations and Differences § 27.95 Spot markets to conform to Act and regulations. Every bona fide spot market...

  17. 78 FR 25181 - Revision of Regulations Defining Bona Fide Cotton Spot Markets

    Science.gov (United States)

    2013-04-30

    ... Service 7 CFR Part 27 RIN 0581-AD26 Revision of Regulations Defining Bona Fide Cotton Spot Markets AGENCY... amending the regulation that specifies which states compose bona fide cotton spot markets in order to assure consistency with the revised Cotton Research and Promotion Act. Updated bona fide spot market...

  18. The Empirical Analysis of the Dynamic Prices Relationship between Cotton Spot Market and Futures Market in Xinjiang

    OpenAIRE

    Sun, Liang-bin

    2011-01-01

    The thesis analyzes the causal relationship between the cotton spot, and the tendency and impact of prices of futures markets in Xinjiang by using ADF test, co-integration analysis, Granger causality test and other econometric methods in order to discuss the interacted relationship between futures market prices of cotton and spot market prices since the futures of cotton in Xinjiang go public. The results of empirical analysis show that the spot market prices of cotton and the futures market ...

  19. Market information and price volatility in petroleum derivatives spot and future markets

    International Nuclear Information System (INIS)

    Khalid Nainar, S.M.

    1993-01-01

    This paper examines the relationship between petroleum futures trading, market information and spot prices. It tests the hypothesis that there is increased spot market information with futures trading of various petroleum derivatives for weekly data during the period January 1970 to July 1985 at the new York Mercantile Exchange. Increased market information with futures trading is indicated by the insignificance of coefficients of past prices in spot price regressions in periods with futures trading. However, the estimates of the coefficient of variation indicate that price volatility tends to increase with futures trading. Thus, traders seem better informed with futures trading although the advantages of increased market information might potentially be undermined by increased price volatility as in the case of regular gasoline. (author)

  20. Competition in electricity spot markets. Economic theory and international experience

    Energy Technology Data Exchange (ETDEWEB)

    Fehr, Nils-Henrik von der; Harbord, David

    1998-09-01

    This publication gives a survey of economic theory and international experience connected to electricity spot markets. The main purpose is to consider the attempts that have been made to apply economic theory and empirical methods to the analysis of electricity markets, and to evaluate them in light of theoretical considerations and empirical evidence. The publication describes in simple terms the basic pool pricing mechanism, and experience with pools in a number of countries. It is worth emphasizing that it is not the purpose to treat in extensive detail the structure of electricity pools around the world. Key factors of the markets in England and Wales, Norway and Australia are described in order to allow for a comparison of design issues and evaluation of competitive performance. 80 refs., 14 figs., 15 tabs.

  1. The impact of heat waves on electricity spot markets

    International Nuclear Information System (INIS)

    Pechan, Anna; Eisenack, Klaus

    2014-01-01

    Thermoelectric power plants depend on cooling water drawn from water bodies. Low river run-off and/or high water temperatures limit a plant's production capacity. This problem may intensify with climate change. Our study quantifies the impact of forced capacity reductions on market prices, production costs, consumer and producer surplus, as well as emissions by means of a bottom-up power generation system model. First, we simulate the German electricity spot market during the heat wave of 2006. Then we conduct a sensitivity study that accounts for future climatic and technological conditions. We find an average price increase of 11% during the heat wave 2006, which is even more pronounced during times of peak demand. Production costs accumulate to an additional but moderate 16 m. Due to the price increase, producers gain from the heat wave, whereas consumers disproportionately bear the costs. Carbon emissions in the German electricity sector increase during the heat wave. The price and cost effects are more pronounced and increase significantly if assumptions on heat-sensitive demand, hydropower capacity, net exports, and capacity reductions are tightened. These are potential additional effects of climate change. Hence, if mitigation fails or is postponed globally, the impacts on the current energy system are very likely to rise. Increases in feed-in from renewable resources and demand-side management can counter the effects to a considerable degree. Countries with a shift toward a renewable energy supply can be expected to be much less susceptible to cooling water scarcity than those with a high share of nuclear and coal-fired power plants. - Highlights: • We quantify the impact of thermal capacity reductions on the electricity market. • German heat wave 2006 caused moderate rise in production costs. • Capacity reductions have substantial impact on prices and raise producer surplus. • Impacts on prices, production cost and surplus amplify under climate

  2. Modeling spot markets for electricity and pricing electricity derivatives

    Science.gov (United States)

    Ning, Yumei

    Spot prices for electricity have been very volatile with dramatic price spikes occurring in restructured market. The task of forecasting electricity prices and managing price risk presents a new challenge for market players. The objectives of this dissertation are: (1) to develop a stochastic model of price behavior and predict price spikes; (2) to examine the effect of weather forecasts on forecasted prices; (3) to price electricity options and value generation capacity. The volatile behavior of prices can be represented by a stochastic regime-switching model. In the model, the means of the high-price and low-price regimes and the probabilities of switching from one regime to the other are specified as functions of daily peak load. The probability of switching to the high-price regime is positively related to load, but is still not high enough at the highest loads to predict price spikes accurately. An application of this model shows how the structure of the Pennsylvania-New Jersey-Maryland market changed when market-based offers were allowed, resulting in higher price spikes. An ARIMA model including temperature, seasonal, and weekly effects is estimated to forecast daily peak load. Forecasts of load under different assumptions about weather patterns are used to predict changes of price behavior given the regime-switching model of prices. Results show that the range of temperature forecasts from a normal summer to an extremely warm summer cause relatively small increases in temperature (+1.5%) and load (+3.0%). In contrast, the increases in prices are large (+20%). The conclusion is that the seasonal outlook forecasts provided by NOAA are potentially valuable for predicting prices in electricity markets. The traditional option models, based on Geometric Brownian Motion are not appropriate for electricity prices. An option model using the regime-switching framework is developed to value a European call option. The model includes volatility risk and allows changes

  3. Price signals and investment incentives in wholesale electricity spot markets

    International Nuclear Information System (INIS)

    Vassilopoulos, Philippe

    2007-01-01

    We look at how prices from energy-only power markets can send the right signals and give the correct incentives for investments in production capacity. Through numerical simulations of spot prices over 2003-2005 we compare the investment signal sent by observed electricity prices in France and what would be competitive prices with an optimal mix and with the installed capacity. Observed prices tend to overestimate profitability for the base-load, making the signal too strong and underestimate profitability for the peak load, making the signal too weak. However, as a large share of consumers is still paying regulated tariffs, scarcity rents are capped. We simulate future prices for France for 2010 to 2020 to understand the incentives to invest. When the entry is free, the incentives to invest given by the future prices are consistent with the optimal mix including the interconnections and nuclear build is strong. With political or regulatory barriers to the construction of new power plants for new entrants (i.e. finding new sites), there are no incentives for the incumbent (that owns all existing base-load and peak load capacity) to add more nuclear capacity. In this situation, new entry would have to be coal or gas except if units are bid strategically to maintain profitability and market share. Moreover, it can also be profitable to limit prices and restrain entry in order to receive higher future revenues. When the base-load is less concentrated and instead of a dominant firm the nuclear capacity is divided into five (equal share) firms, the incentives to invest reappear and the threat of entry becomes more credible. (author) [fr

  4. FORECASTING ELECTRICITY PRICES IN DEREGULATED WHOLESALE SPOT ELECTRICITY MARKET - A REVIEW

    Directory of Open Access Journals (Sweden)

    Girish Godekere Panchakshara Murthy,

    2014-01-01

    Full Text Available In the new framework of competitive electricity markets, all power market participants need accurate price forecasting tools. Electricity price forecasts characterize significant information that can help captive power producer, independent power producer, power generation companies, power distribution companies or open access consumers in careful planning of their bidding strategies for maximizing their profits, benefits and utilities from long term, medium term and short term perspective. Short term spot electricity price forecasting techniques are either inspired from electrical engineering literature (i.e. load forecasting or from economics literature (i.e. game theory models and the time-series econometric models. In this study we investigate the emergence of spot electricity markets with particular emphasis on Indian electricity market which has never been done before and review selected finance and econometrics inspired literature and models for forecasting electricity spot prices in deregulated wholesale spot electricity markets.

  5. MASCEM: EPEX SPOT Day-Ahead market integration and simulation

    DEFF Research Database (Denmark)

    Santos, Gabriel; Fernandes, Ricardo; Pinto, Tiago

    2015-01-01

    emerged. Decision support tools that facilitate the study and comprehension of these markets became extremely useful, providing players with competitive advantage. MASCEM (Multi-Agent Simulator of Competitive Electricity Markets) arises in this context, modeling and simulating real electricity markets...

  6. Forward and Spot Prices in Multi-Settlement Wholesale Electricity Markets

    Science.gov (United States)

    Larrieu, Jeremy

    In organized wholesale electricity markets, power is sold competitively in a multi-unit multi-settlement single-price auction comprised of a forward and a spot market. This dissertation attempts to understand the structure of the forward premium in these markets, and to identify the factors that may lead forward and spot prices to converge or diverge. These markets are unique in that the forward demand is price-sensitive, while spot residual demand is perfectly inelastic and must be met in full, a crucial design feature the literature often glosses over. An important contribution of this dissertation is the explicit modeling of each market separately in order to understand how generation and load choose to act in each one, and the consequences of these actions on equilibrium prices and quantities given that firms maximize joint profits over both markets. In the first essay, I construct a two-settlement model of electricity prices in which firms that own asymmetric capacity-constrained units facing convex costs compete to meet demand from consumers, first in quantities, then in prices. I show that the forward premium depends on the costliness of spot production relative to firms' ability to exercise market power by setting quantities in the forward market. In the second essay, I test the model from the first essay with unit-level capacity and marginal cost data from the California Independent System Operator (CAISO). I show that the model closely replicates observed price formation in the CAISO. In the third essay, I estimate a time series model of the CAISO forward premium in order to measure the impact that virtual bidding has had on forward and spot price convergence in California between April 2009 and March 2014. I find virtual bidding to have caused forward and spot prices to diverge due to the large number of market participants looking to hedge against - or speculate on - the occurrence of infrequent but large spot price spikes by placing virtual demand bids.

  7. ANÁLISE ESTRATÉGICA DAS ÁREAS DE MARKETING E FINANÇAS NO PROCESSO DE FORMAÇÃO E MANUTENÇÃO DOS PREÇOS: O CASO DA MONTADORA FIAT AUTOMÓVEIS S.A. [doi: 10.5329/RECADM.20060501006

    Directory of Open Access Journals (Sweden)

    Ulisses Procópio Pascoal Torres

    2006-05-01

    Full Text Available ResumoQuando profissionais de estratégias empresariais definem o preço de um produto, nem sempre levam emconsideração fatores importantes para os consumidores. Diante de tal cenário, é possível pensar nanecessidade de as empresas elaborarem os seus preços baseados em custos, ou na concorrência, ou mesmo,no valor para o cliente. O objetivo desse trabalho é analisar as estratégias utilizadas pelos departamentos deMarketing e Finanças da Fiat Automóveis na formação dos preços de veículos 0 Km. Trata-se de um estudo decaso, onde foram efetuadas entrevistas semi-estruturadas com colaboradores dos departamentos de Marketinge Controle no intuito de relacionar as ferramentas utilizadas para análise e verificar o grau de coerênciaexistente entre as estratégias utilizadas, destacando alguns pontos negativos que contribuem para a destruiçãode valor. O estudo demonstra a visão dos setores envolvidos na formação e manutenção dos preços,apresentando como resultado a importância da sinergia entre esses departamentos..Palavras-chave: estratégia, preço, processo.AbstractWhen professionals of managerial strategies define the price of a product, not always they take in considerationimportant factors for the consumers. In the context, it is possible to think in the need of the companies toelaborate your prices based on costs, or in the competition, or even, in the value for the customer. The objectiveof this work is to analyze the strategies used by the departments of Marketing and Finances of Fiat Automóveisin the formation and maintenance of the prices of vehicles 0 Km. It is a case study, where interviews were madesemi-structured with collaborators of the departments of Marketing and Control in the intention of relating thetools used for analysis and to verify the degree of existent coherence among the used strategies, some negativepoints that contribute to the destruction of value highlighting. The study demonstrates the vision

  8. The relationship between spot and futures prices in the Nord Pool electricity market

    International Nuclear Information System (INIS)

    Botterud, Audun; Kristiansen, Tarjei; Ilic, Marija D.

    2010-01-01

    We analyze 11 years of historical spot- and futures prices from the hydro-dominated Nord Pool electricity market. We find that futures prices tend to be higher than spot prices. The average convenience yield is therefore negative, but varies by season and depends on the storage levels in hydro reservoirs. The average realized return on holding a long position in the futures market is also negative. The negative convenience yield and risk premium contrast empirical findings in most other commodity markets. We argue that differences between the supply and demand sides in terms of risk preferences and the ability to take advantage of short-term price variations can contribute to explain the observed relationship between spot- and futures prices. In addition, our analysis shows that the relationship between spot and futures prices is clearly linked to the physical state of the system, such as hydro inflow, reservoir levels, and demand. (author)

  9. Analyzing and Forecasting Volatility Spillovers and Asymmetries in Major Crude Oil Spot, Forward and Futures Markets

    NARCIS (Netherlands)

    C-L. Chang (Chia-Lin); M.J. McAleer (Michael); R. Tansuchat (Roengchai)

    2010-01-01

    textabstractCrude oil price volatility has been analyzed extensively for organized spot, forward and futures markets for well over a decade, and is crucial for forecasting volatility and Value-at-Risk (VaR). There are four major benchmarks in the international oil market, namely West Texas

  10. Research on spot power market equilibrium model considering the electric power network characteristics

    International Nuclear Information System (INIS)

    Wang, Chengmin; Jiang, Chuanwen; Chen, Qiming

    2007-01-01

    Equilibrium is the optimum operational condition for the power market by economics rule. A realistic spot power market cannot achieve the equilibrium condition due to network losses and congestions. The impact of the network losses and congestion on spot power market is analyzed in this paper in order to establish a new equilibrium model considering the network loss and transmission constraints. The OPF problem formulated according to the new equilibrium model is solved by means of the equal price principle. A case study on the IEEE-30-bus system is provided in order to prove the effectiveness of the proposed approach. (author)

  11. Optimal operation strategies of compressed air energy storage (CAES) on electricity spot markets with fluctuating prices

    DEFF Research Database (Denmark)

    Lund, Henrik; Salgi, Georges; Elmegaard, Brian

    2009-01-01

    on electricity spot markets by storing energy when electricity prices are low and producing electricity when prices are high. In order to make a profit on such markets, CAES plant operators have to identify proper strategies to decide when to sell and when to buy electricity. This paper describes three...... plants will not be able to achieve such optimal operation, since the fluctuations of spot market prices in the coming hours and days are not known. Consequently, two simple practical strategies have been identified and compared to the results of the optimal strategy. This comparison shows that...... independent computer-based methodologies which may be used for identifying the optimal operation strategy for a given CAES plant, on a given spot market and in a given year. The optimal strategy is identified as the one which provides the best business-economic net earnings for the plant. In practice, CAES...

  12. Elspot: Nord Pool Spot Integration in MASCEM Electricity Market Simulator

    DEFF Research Database (Denmark)

    Fernandes, Ricardo; Santos, Gabriel; Praca, Isabel

    2014-01-01

    The energy sector in industrialized countries has been restructured in the last years, with the purpose of decreasing electricity prices through the increase in competition, and facilitating the integration of distributed energy resources. However, the restructuring process increased the complexity...... (Multi-Agent Simulator of Competitive Electricity Markets), a multi-agent based simulator that models real electricity markets. To reinforce MASCEM with the capability of recreating the elect ricity markets reality in the fullest possible extent, it is crucial to make it able to simulate as many market...... models and player types as possible. This paper presents a new negotiation model implemented in MASCEM based on the negotiation model used in day-ahead market (Elspot) of Nord Pool. This is a key module to study competitive electricity markets, as it presents well defined and distinct characteristics...

  13. Evaluating the market splitting determinants: evidence from the Iberian spot electricity prices

    International Nuclear Information System (INIS)

    Figueiredo, Nuno Carvalho; Silva, Patrícia Pereira da; Cerqueira, Pedro A.

    2015-01-01

    This paper aims to assess the main determinants on the market splitting behaviour of the Iberian electricity spot markets. Iberia stands as an ideal case-study, where the high level deployment of wind power is observed, together with the implementation of the market splitting arrangement between the Portuguese and the Spanish spot electricity markets. Logit and non-parametric models are used to express the probability response for market splitting of day-ahead spot electricity prices as a function of the explanatory variables representing the main technologies in the generation mix: wind, hydro, thermal and nuclear power, together with the available transfer capacity and electricity demand. Logit models give preliminary indications about market splitting behaviour, and then, notwithstanding the demanding computational challenge, a non-parametric model is applied in order to overcome the limitations of the former models. Results show an increase of market splitting probability with higher wind power generation or, more generally, with higher availability of low marginal cost electricity such as nuclear power generation. The European interconnection capacity target of 10% of the peak demand of the smallest interconnected market might be insufficient to maintain electricity market integration. Therefore, pro-active coordination policies, governing both interconnections and renewables deployment, should be further developed. -- Highlights: •Assess determinants on market splitting behaviour of Iberian electricity markets. •Logit and non-parametric models to express market splitting probability response. •Explanatory variables: wind, hydro, thermal and nuclear power; ATC and demand. •Results: increase of market splitting probability with higher availability of low marginal cost electricity. •Coordination policies governing both interconnections and renewables deployment

  14. Hedging Performance and Multiscale Relationships in the German Electricity Spot and Futures Markets

    Directory of Open Access Journals (Sweden)

    Mara Madaleno

    2010-12-01

    Full Text Available We explore optimal hedge ratios and hedging effectiveness for the German electricity market. Given the increasing attention that wavelets received in the financial market, we concentrate on the investigation of the relationship, covariance/coherence evolution and hedge ratio analysis, on a time-frequency-scale approach (discrete and continuous, between electricity spot and futures. Simpler approaches are also used for comparison purposes like the naïve, OLS and the dynamic multivariate GARCH model in order to account for risk reduction through hedging. Results allow us to conclude that: dynamic hedging strategies provide higher variance reductions in terms of hedging effectiveness; there is poor correlation among spot and futures, not being homogeneous across scales, which condition the effectiveness of the hedging strategy; the long-horizon hedge ratio does not converge to its long run equilibrium of one. Wavelets poor fit in variance reduction is attributed to low coherence and to statistical relationships between spot and futures electricity series. The instability found in various aspects of market comovements may imply serious limitations to the investor’s ability to exploit potential benefits from hedging with futures contracts in electricity markets. Moreover, much variation in the contemporaneous relationship among spot and futures may highlight inadequacy in assuming (short-term relationships in both markets, which might account for the difficulty in achieving profitable active trading.

  15. Electricity spot price forecasting in free power market

    International Nuclear Information System (INIS)

    Lilleberg, J.; Laitinen, E.K.

    1998-01-01

    Deregulation has brought many changes to the electricity market. Freedom of choice has been granted to both the consumers and the utilities. Consumers may choose the seller of their energy. Utilities have a wider array of sources to acquire their electricity from. Also the types of sales contracts used are changing to fill the needs of this new situation. The consumers' right to choose has introduced a new risk uncertainty of volume, which was not true during the times of monopoly. As sold volume is unsure and the energy is not sold on same terms as it is bought, a price risk has to be dealt with also. The electric utility has to realize this, select a risk level that suits its business strategy and optimize its actions according to the selected risk level. The number of participants will grow as the electricity market integrates into a common market for Scandinavia and even Europe. Big customers are also taking a more active role in the market, further increasing the number of participants. This makes old bilateral arrangements outdated. New tools are needed to control the new business environment. The goal of this project has been to develop a theoretical model to predict the price in the Finnish electricity exchange, El-Ex Oy. An extensive literature review was conducted in order to (1) examine the solutions in deregulation of electricity markets in other countries, esp. in Norway and UK, (2) find similarities and differences in electricity exchange and exchanges generally and (3) find major sources of problems and inefficiency in the market

  16. Electricity spot price forecasting in free power market

    Energy Technology Data Exchange (ETDEWEB)

    Lilleberg, J.; Laitinen, E.K. [Vaasa Univ. (Finland)

    1998-08-01

    Deregulation has brought many changes to the electricity market. Freedom of choice has been granted to both the consumers and the utilities. Consumers may choose the seller of their energy. Utilities have a wider array of sources to acquire their electricity from. Also the types of sales contracts used are changing to fill the needs of this new situation. The consumers` right to choose has introduced a new risk uncertainty of volume, which was not true during the times of monopoly. As sold volume is unsure and the energy is not sold on same terms as it is bought, a price risk has to be dealt with also. The electric utility has to realize this, select a risk level that suits its business strategy and optimize its actions according to the selected risk level. The number of participants will grow as the electricity market integrates into a common market for Scandinavia and even Europe. Big customers are also taking a more active role in the market, further increasing the number of participants. This makes old bilateral arrangements outdated. New tools are needed to control the new business environment. The goal of this project has been to develop a theoretical model to predict the price in the Finnish electricity exchange, El-Ex Oy. An extensive literature review was conducted in order to (1) examine the solutions in deregulation of electricity markets in other countries, esp. in Norway and UK, (2) find similarities and differences in electricity exchange and exchanges generally and (3) find major sources of problems and inefficiency in the market

  17. Modelling and Forecasting the Capsized Market Spot Freight Rate ...

    African Journals Online (AJOL)

    An investor in this volatile market will find it very difficult for him to succeed by making a good decision. Most of the companies are faced with high risk of collapse if the managers are uncertain about the future. The study employed two econometrics models; Error Correction (EC) model and ARMA (Auto Regressive Moving ...

  18. Generation Companies’ Operative Strategies in the Spot Electricity Market

    Directory of Open Access Journals (Sweden)

    Tovar-Hernández J.H.

    2012-07-01

    Full Text Available In traditional regulation the obligation to meet the consumer demand was assumed, this guaranteed to generation companies the full recovery of their costs. However, in order to achieve greater efficiency, reduce the price of electricity, meet the continuously growing electricity consumption, and equalize prices in different regions, a new structure of the electricity industry has been created, where electric energy is traded through a market. Generation company’s future cash flows depend on day to day market participation, in order to satisfy all of their financial and economic requirements. In this paper, future cash flows required to fulfill with economic and financial commitments by a generation company immerse in this new market structure are studied. For this purpose, future cash flows are considered to be dependent on a single asset: electricity. Several scenarios with different fuel prices are generated in order to estimate the generation company’s future cash flows. The response of the competing generation companies is taken into account at each scenario. The fuel price changes are modelled using a concurrent binary tree.

  19. Influence of TCSC on congestion and spot price in electricity market with bilateral contract

    International Nuclear Information System (INIS)

    Acharya, Naresh; Mithulananthan, Nadarajah

    2007-01-01

    This paper presents a quantitative analysis of the effect of TCSC on congestion and spot price in deregulated electricity markets. The paper could also be considered as a comprehensive tutorial on the influence of TCSC in electricity market. A voluntary pool market, where the market participants can trade electricity either via a pool or through bilateral contracts is considered. The electricity market is modeled in an optimal power flow framework with the objective of maximizing the social welfare. In such formulation, the Lagrange operators associated with the equality constraints associated with real power balance give the spot prices of energy at each bus of the system. Studies are carried out with and without TCSC at peak and low loading conditions to capture the influence and to see the effectiveness of TCSC at different loading conditions. The paper further explores the effect of TCSC compensation level on the spot prices and the congestion under varying pool and bilateral loading conditions. A 5-bus test system is used for numerical studies and to showcase the influence of TCSC in an electricity market environment. (author)

  20. Value assessment of hydrogen-based electrical energy storage in view of electricity spot market

    DEFF Research Database (Denmark)

    You, Shi; Hu, Junjie; Zong, Yi

    2016-01-01

    electricity spot market that has high price volatility due to its high share of wind power. An economic dispatch model is developed as a mixed-integer programming (MIP) problem to support the estimation of variable cost of such a system taking into account a good granularity of the technical details. Based...

  1. State of the art in the estimation of energy prices in the spot market

    International Nuclear Information System (INIS)

    Botero B, Sergio; Cano C, Jovan A

    2007-01-01

    Since the start energy markets deregulation in the world, several spot market (short term) price prediction methods have been developed? this article identifies and compares the main methods of prediction used in Colombia and other international markets. With this review it is possible to determine the state of the knowledge in the specific subject and then to look for the development of new forecasting techniques that can contribute to the solution of this problem. The prediction horizon is something that must be taken into account in the review of the several techniques, given that both the magnitude of the final model of estimation, and the time series treatment type, depend on this horizon.

  2. High penetration wind generation impacts on spot prices in the Australian national electricity market

    International Nuclear Information System (INIS)

    Cutler, Nicholas J.; Boerema, Nicholas D.; MacGill, Iain F.; Outhred, Hugh R.

    2011-01-01

    This paper explores wind power integration issues for the South Australian (SA) region of the Australian National Electricity Market (NEM) by assessing the interaction of regional wind generation, electricity demand and spot prices over 2 recent years of market operation. SA's wind energy penetration has recently surpassed 20% and it has only a limited interconnection with other regions of the NEM. As such, it represents an interesting example of high wind penetration in a gross wholesale pool market electricity industry. Our findings suggest that while electricity demand continues to have the greatest influence on spot prices in SA, wind generation levels have become a significant secondary influence, and there is an inverse relationship between wind generation and price. No clear relationship between wind generation and demand has been identified although some periods of extremely high demand may coincide with lower wind generation. Periods of high wind output are associated with generally lower market prices, and also appear to contribute to extreme negative price events. The results highlight the importance of electricity market and renewable policy design in facilitating economically efficient high wind penetrations. - Highlights: → In South Australia (SA) wind generation is having an influence on market prices. → Little or no correlation is found between wind generation and demand. → Wind farms in SA are receiving a lower average price than in other States. → The results highlight the importance of appropriate electricity market design.

  3. Price interactions and discovery among natural gas spot markets in North America

    International Nuclear Information System (INIS)

    Park, Haesun; Mjelde, James W.; Bessler, David A.

    2008-01-01

    Recent advances in modeling causal flows with time series analysis are used to study relationships among eight North American natural gas spot market prices. Results indicate that the Canadian and US natural gas market is a single highly integrated market. Further results indicate that price discovery tends to reflect both regions of excess demand and supply. Across North America, Malin Hub in Oregon, Chicago Hub, Illinois, Waha, Texas, and Henry Hub, Louisiana region, are the most important markets for price discovery. Opal Hub in Wyoming is an information sink in contemporaneous time, receiving price information but passing on no price information. AECO Hub in Alberta, Canada, receives price signals from several markets and passes on information to Opal and the Oklahoma region. (author)

  4. Evaluation of market samples of ′Yashada bhasma′ using ′Namburi Phased Spot Test′

    Directory of Open Access Journals (Sweden)

    Santhosh Bhojashettar

    2011-01-01

    Full Text Available Yashada bhasma (Calx of Yashada i.e. Zinc which has its main indication in Prameha (Diabetes and Netra vikaras (Eye disorders was prepared according to the prescription in the Ayurvedic classics and subjected to various bhasma parikshas, including the Namburi Phased Spot Test (NPST, one of the qualitative tests described for various Ayurvedic preparations. NPST helps differentiate between, and thus identify, various bhasmas. It depends upon the pattern of the spot, which develops after a specific chemical reaction. Three market samples of Yashada bhasma, which were said to be Parada marita (incinerated using Mercury, were also subjected to the above tests and results compared. The various bhasmas exhibited marked differences in colour, and though NPST yielded desired results for all the samples, there were differences in their spot patterns and colour. The bhasma prepared in our department produced the most accurate results.

  5. Time-varying convergence in European electricity spot markets and their association with carbon and fuel prices

    International Nuclear Information System (INIS)

    Menezes, Lilian M. de; Houllier, Melanie A.; Tamvakis, Michael

    2016-01-01

    Long-run dynamics of electricity prices are expected to reflect fuel price developments, since fuels generally account for a large share in the cost of generation. As an integrated European market for electricity develops, wholesale electricity prices should be converging as a result of market coupling and increased interconnectivity. Electricity mixes are also changing, spurred by a drive to significantly increase the share of renewables. Consequently, the electricity wholesale price dynamics are evolving, and the fuel–electricity price nexus that has been described in the literature is likely to reflect this evolution. This study investigates associations between spot prices from the British, French and Nordpool markets with those in connected electricity markets and fuel input prices, from December 2005 to October 2013. In order to assess the time-varying dynamics of electricity spot price series, localized autocorrelation functions are used. Electricity spot prices in the three markets are found to have stationary and non-stationary periods. When a trend in spot prices is observed, it is likely to reflect the trend in fuel prices. Cointegration analysis is then used to assess co-movement between electricity spot prices and fuel inputs to generation. The results show that British electricity spot prices are associated with fuel prices and not with price developments in connected markets, while the opposite is observed in the French and Nordpool day-ahead markets. - Highlights: • Electricity market integration policies may have altered EU spot electricity prices. • LACF is used to assess the changing nature of electricity spot prices. • EU electricity spot prices show both stationary and non-stationary periods. • Carbon and fuel prices have greater impact on British spot prices. • In continental Europe, electricity prices have decoupled from fuel prices.

  6. The effect of ethanol listing on corn prices: Evidence from spot and futures markets

    International Nuclear Information System (INIS)

    Demirer, Rıza; Kutan, Ali M.; Shen, Fanglin

    2012-01-01

    The use of corn for ethanol has been the topic of heated discussions in the media and among policy makers. As part of this debate, some observers have argued that the use of corn in the production of ethanol has had adverse effects on corn prices. This paper contributes to this reviving debate by examining the impact of the listing of ethanol futures in the Chicago Board of Trade on the spot and futures prices for corn. We find a significant listing effect, indicating that the listing of ethanol has had a positive contribution to both price and volatility in the corn market, especially in the spot and the shorter maturity futures contracts, and mostly through its interaction with trading volume in the corn market. We discuss the policy implications of the findings for investors and its relevance for the ongoing debate on US energy policy. We conclude with some suggestions for future research.

  7. Pre-announcements of price increase intentions in liner shipping spot markets

    DEFF Research Database (Denmark)

    Chen, Gang; Rytter, Niels G M; Jiang, Liping

    2017-01-01

    Carriers in liner shipping markets frequently make public announcements of general rate increase (GRI) intentions, based on which EU authorities have concerns as to whether this harms market competition. This paper aims to empirically investigate how well the GRI system works from an industrial...... competition perspective, which will indirectly indicate whether carriers are able to manipulate spot rates following GRI announcements. Taking the Far East–North Europe trade between 2009 and 2013 as an example, the paper first reveals the gradual increase of GRI frequency and size, which reflects carriers...

  8. Artificial neural networks applied to the prediction of spot prices in the market of electric energy

    International Nuclear Information System (INIS)

    Rodrigues, Alcantaro Lemes; Grimoni, Jose Aquiles Baesso

    2010-01-01

    The commercialization of electricity in Brazil as well as in the world has undergone several changes over the past 20 years. In order to achieve an economic balance between supply and demand of the good called electricity, stakeholders in this market follow both rules set by society (government, companies and consumers) and set by the laws of nature (hydrology). To deal with such complex issues, various studies have been conducted in the area of computational heuristics. This work aims to develop a software to forecast spot market prices in using artificial neural networks (ANN). ANNs are widely used in various applications especially in computational heuristics, where non-linear systems have computational challenges difficult to overcome because of the effect named 'curse of dimensionality'. This effect is due to the fact that the current computational power is not enough to handle problems with such a high combination of variables. The challenge of forecasting prices depends on factors such as: (a) foresee the demand evolution (electric load); (b) the forecast of supply (reservoirs, hydrology and climate), capacity factor; and (c) the balance of the economy (pricing, auctions, foreign markets influence, economic policy, government budget and government policy). These factors are considered be used in the forecasting model for spot market prices and the results of its effectiveness are tested and huge presented. (author)

  9. SMART II : the spot market agent research tool version 2.0.

    Energy Technology Data Exchange (ETDEWEB)

    North, M. J. N.

    2000-12-14

    Argonne National Laboratory (ANL) has worked closely with Western Area Power Administration (Western) over many years to develop a variety of electric power marketing and transmission system models that are being used for ongoing system planning and operation as well as analytic studies. Western markets and delivers reliable, cost-based electric power from 56 power plants to millions of consumers in 15 states. The Spot Market Agent Research Tool Version 2.0 (SMART II) is an investigative system that partially implements some important components of several existing ANL linear programming models, including some used by Western. SMART II does not implement a complete model of the Western utility system but it does include several salient features of this network for exploratory purposes. SMART II uses a Swarm agent-based framework. SMART II agents model bulk electric power transaction dynamics with recognition for marginal costs as well as transmission and generation constraints. SMART II uses a sparse graph of nodes and links to model the electric power spot market. The nodes represent power generators and consumers with distinct marginal decision curves and varying investment capital as well individual learning parameters. The links represent transmission lines with individual capacities taken from a range of central distribution, outlying distribution and feeder line types. The application of SMART II to electric power systems studies has produced useful results different from those often found using more traditional techniques. Use of the advanced features offered by the Swarm modeling environment simplified the creation of the SMART II model.

  10. Modelling price and volatility inter-relationships in the Australian wholesale spot electricity markets

    International Nuclear Information System (INIS)

    Higgs, Helen

    2009-01-01

    This paper examines the inter-relationships of wholesale spot electricity prices among the four regional electricity markets in the Australian National Electricity Market (NEM): namely, New South Wales, Queensland, South Australia and Victoria using the constant conditional correlation and Tse and Tsui's (Tse, Y.K., Tsui, A.K.C., 2002. A multivariate generalised autoregressive conditional heteroscedasticity model with time-varying correlations. Journal of Business and Economic Statistics 20 (3), 351-362.) and Engle's (Engle, R., 2002. Dynamic conditional correlation: a sample class of multivariate generalized autoregressive conditional heteroskedasticity models. Journal of Business and Economic Statistics 20 (3), 339-350.) dynamic conditional correlation multivariate GARCH models. Tse and Tsui's (Tse, Y.K., Tsui, A.K.C., 2002. A multivariate generalised autoregressive conditional heteroscedasticity model with time-varying correlations. Journal of Business and Economic Statistics 20 (3), 351-362.) dynamic conditional correlation multivariate GARCH model which takes account of the Student t specification produces the best results. At the univariate GARCH(1,1) level, the mean equations indicate the presence of positive own mean spillovers in all four markets and little evidence of mean spillovers from the other lagged markets. In the dynamic conditional correlation equation, the highest conditional correlations are evident between the well-connected markets indicating the presence of strong interdependence between these markets with weaker interdependence between the not so well-interconnected markets. (author)

  11. Empirical analysis of the spot market implications of price-responsive demand

    International Nuclear Information System (INIS)

    Siddiqui, A.S.

    2006-01-01

    Although electricity is theoretically an inelastic good in the short term, the steep slope of the supply stack implies that even modest response by demand could translate into reduced capacity requirements and significant price decreases. This article examined the effect of price-responsive demand strategies in an actual deregulated electricity industry. Auction data from the New York Independent System Operator (NYISO) day-ahead electricity market were used to form supply stacks for various zones. A simple linear demand function was used to determine the effect of price responsiveness on equilibrium spot market price and consumption. The aim was to quantify the benefits from the pricing protocol and to determine whether modest levels of price elasticity can significantly lower prices and consumption. Market-clearing prices and quantities were estimated using various supply curves in order to quantify the responsiveness necessary to achieve given price reductions. Price response was induced in the demand curve by varying its slope. Estimates were then used to estimate the average level of slope needed to reduce the average market-clearing price during the year by a certain percentage. Results showed that an average slope of -50.04 was necessary for prices to be reduced by 25 per cent. Results also showed that necessary price responses can be ascertained for any desired reduction in the market-clearing price or quantity. Although price responsiveness unambiguously reduces the spot market price and quantity, its effect on the forward price is not yet clear. It was concluded that a separate analysis of peak hours may reveal the effectiveness of enhanced price response. 8 refs., 1 tab., 8 figs

  12. Forecasting electricity spot market prices with a k-factor GIGARCH process

    Energy Technology Data Exchange (ETDEWEB)

    Diongue, Abdou Ka [Universite Gaston Berger de Saint-Louis, UFR SAT, BP 234, Saint-Louis Senegal and Research Fellow at Queensland University of Technology, 2 George Street, GPO Box 2434, Brisbane QLD 4001 (Australia); Guegan, Dominique [Paris School of economics, CES-MSE, Universite Paris1 Pantheon-Sorbonne, 106 boulevard de l' Hopital, 75647 Paris, Cedex 13 (France); Vignal, Bertrand [Ingenieur EDF R and D, 1 avenue du general de Gaulle, 92141 Clamart cedex (France)

    2009-04-15

    In this article, we investigate conditional mean and conditional variance forecasts using a dynamic model following a k-factor GIGARCH process. Particularly, we provide the analytical expression of the conditional variance of the prediction error. We apply this method to the German electricity price market for the period August 15, 2000-December 31, 2002 and we test spot prices forecasts until one-month ahead forecast. The forecasting performance of the model is compared with a SARIMA-GARCH benchmark model using the year 2003 as the out-of-sample. The proposed model outperforms clearly the benchmark model. We conclude that the k-factor GIGARCH process is a suitable tool to forecast spot prices, using the classical RMSE criteria. (author)

  13. The value of millisecond expiry options in spot foreign exchange markets

    Directory of Open Access Journals (Sweden)

    John Stevenson

    2016-12-01

    Full Text Available The spot foreign exchange marketplaces are split into two types by their respective trading rules: markets with conventional resting orders versus markets with resting that orders that include optionality. This optionality is owned by the counterparty who placed the resting order and provides the option to refuse the aggressive order matched against the resting order. This paper describes and contrasts these two types of markets. A valuation method for these very short expiry options on the later marketplace is proposed. Appropriate historical volatility metrics are defined and applied for these uniquely short expiry timescales. These historical volatility and valuation methods are used to describe some historical intraday periods, and are applied to various trading scenarios. Unique behaviors driven by the value of these options are highlighted. The benefits and risks of trading on these markets are described in light of this valuation approach. The effects of various addition constraints on the liquidity providers for these optionality matching marketplaces are introduced. Through judicious timing of order placement and appropriate constraints on the behaviors of the liquidity providers on these markets, the result is shown to be tighter spreads, greater breath and depth of liquidity, and the high fill ratios than the more conventional non-optionality matching markets.

  14. Aggregators’ Optimal Bidding Strategy in Sequential Day-Ahead and Intraday Electricity Spot Markets

    Directory of Open Access Journals (Sweden)

    Xiaolin Ayón

    2017-04-01

    Full Text Available This paper proposes a probabilistic optimization method that produces optimal bidding curves to be submitted by an aggregator to the day-ahead electricity market and the intraday market, considering the flexible demand of his customers (based in time dependent resources such as batteries and shiftable demand and taking into account the possible imbalance costs as well as the uncertainty of forecasts (market prices, demand, and renewable energy sources (RES generation. The optimization strategy aims to minimize the total cost of the traded energy over a whole day, taking into account the intertemporal constraints. The proposed formulation leads to the solution of different linear optimization problems, following the natural temporal sequence of electricity spot markets. Intertemporal constraints regarding time dependent resources are fulfilled through a scheduling process performed after the day-ahead market clearing. Each of the different problems is of moderate dimension and requires short computation times. The benefits of the proposed strategy are assessed comparing the payments done by an aggregator over a sample period of one year following different deterministic and probabilistic strategies. Results show that probabilistic strategy reports better benefits for aggregators participating in power markets.

  15. Spot Markets Indices as Benchmarks of Formation of Future Price Trends in the Power Exchanges of Eastern Europe

    Directory of Open Access Journals (Sweden)

    Polikevych Nataliya I.

    2016-01-01

    Full Text Available The article is concerned with a theoretical generalization of the use of indices for electric power at the European spot exchanges and elaborating proposals on establishment of a similar spot index for the Ukrainian power exchange. 16 indices that are published daily by the power exchanges BSP Regional Energy Exchange, Power Exchange Central Europe, Polish Power Exchange and Opcom have been analyzed. It has been indicated that these indices are used for electricity price forecasting and monitoring the situation in the power market. The article examines the way spot indices are calculated by power exchanges, based on the value of the arithmetic average of market prices «day ahead». Imperfection of such way of calculation for price index values has been substantiated. The key characteristics of the future price index for Ukrainian spot market as benchmarks within the introduction of futures contracts for electricity have been identified.

  16. Electricity storages - optimised operation based on spot market prices; Stromspeicher. Optimierte Fahrweise auf Basis der Spotmarktpreise

    Energy Technology Data Exchange (ETDEWEB)

    Bernhard, Dominik; Roon, Serafin von [FfE Forschungsstelle fuer Energiewirtschaft e.V., Muenchen (Germany)

    2010-06-15

    With its integrated energy and climate package the last federal government set itself ambitious goals for the improvement of energy efficiency and growth of renewable energy production. These goals were confirmed by the new government in its coalition agreement. However, they can only be realised if the supply of electricity from fluctuating renewable sources can be made to coincide with electricity demand. Electricity storages are therefore an indispensable component of the future energy supply system. This article studies the optimised operation of an electricity storage based on spot market prices and the influence of wind power production up to the year 2020.

  17. Spot markets vs. long-term contracts - modelling tools for regional electricity generating utilities

    International Nuclear Information System (INIS)

    Grohnheit, P.E.

    1999-01-01

    A properly organised market for electricity requires that some information will be available for all market participants. Also a range of generally available modelling tools are necessary. This paper describes a set of simple models based on published data for analyses of the long-term revenues of regional utilities with combined heat and power generation (CHP), who will operate a competitive international electricity market and a local heat market. The future revenues from trade on the spot market is analysed using a load curve model, in which marginal costs are calculated on the basis of short-term costs of the available units and chronological hourly variations in the demands for electricity and heat. Assumptions on prices, marginal costs and electricity generation by the different types of generating units are studied for selected types of local electricity generators. The long-term revenue requirements to be met by long-term contracts are analysed using a traditional techno-economic optimisation model focusing on technology choice and competition among technologies over 20.30 years. A possible conclusion from this discussion is that it is important for the economic and environmental efficiency of the electricity market that local or regional generators of CHP, who are able to react on price signals, do not conclude long-term contracts that include fixed time-of-day tariff for sale of electricity. Optimisation results for a CHP region (represented by the structure of the Danish electricity and CHP market in 1995) also indicates that a market for CO 2 tradable permits is unlikely to attract major non-fossil fuel technologies for electricity generation, e.g. wind power. (au)

  18. Marketing trials, marketing tricks - how to spot them and how to stop them.

    Science.gov (United States)

    Matheson, Alastair

    2017-03-08

    Last this year in this journal, Barbour and colleagues reported a study of "marketing trials" in leading medical journals (Trials 2016;17:31). In this commentary I discuss their research, describe new analyses of the study cohort and consider measures to address marketing within academic medical literature. Barbour et al. sought to identify a subgroup of "marketing trials" within leading medical journals, but in reality, nearly all industry-financed trials serve marketing functions, and many exhibit marketing-related features, including biases, in their framing, methodology or reporting. I conducted new analyses of the cohort of Barbour et al., showing that most trials funded exclusively by drug manufacturers had direct involvement of the manufacturer in design, analysis and reporting, and features supportive of product seeding. However, these commercial enterprises were without exception presented to journal readers as academic-led projects, using attributional spin, which should itself be considered an important form of marketing bias. Barbour et al. correctly conclude that commercial bias in industry clinical trials articles often requires expertise to recognize, and in many cases cannot be identified from the published journal report. Several potential remedies are discussed, including independent clinical research, data sharing, improved reporting guidance, improved tools for assessing research quality, reforms to article attribution, submission checklists and new editorial standards. Medicine's journals have a responsibility to uphold rigorous scientific and reporting standards, require ready trials data access and ensure the commercial dimensions of research are brought prominently to their readers' attention. Failure to meet these responsibilities constitutes an enduring threat to the integrity of biomedical literature.

  19. Analysis of M-stationary points to an EPEC modeling oligopolistic competition in an electricity spot market

    Czech Academy of Sciences Publication Activity Database

    Henrion, R.; Outrata, Jiří; Surowiec, T.

    2012-01-01

    Roč. 18, č. 2 (2012), s. 295-317 ISSN 1292-8119 R&D Projects: GA ČR GA201/09/1957 Institutional support: RVO:67985556 Keywords : Equilibrium problems with equilibrium constraints * EPEC * M-stationary solutions * electricity spot market * calmness Subject RIV: BA - General Mathematics Impact factor: 1.282, year: 2012 http://library.utia.cas.cz/separaty/2012/MTR/outrata-analysis of m-stationary points to an epec modeling oligopolistic competition in an electricity spot market.pdf

  20. A study of correlations between crude oil spot and futures markets: A rolling sample test

    Science.gov (United States)

    Liu, Li; Wan, Jieqiu

    2011-10-01

    In this article, we investigate the asymmetries of exceedance correlations and cross-correlations between West Texas Intermediate (WTI) spot and futures markets. First, employing the test statistic proposed by Hong et al. [Asymmetries in stock returns: statistical tests and economic evaluation, Review of Financial Studies 20 (2007) 1547-1581], we find that the exceedance correlations were overall symmetric. However, the results from rolling windows show that some occasional events could induce the significant asymmetries of the exceedance correlations. Second, employing the test statistic proposed by Podobnik et al. [Quantifying cross-correlations using local and global detrending approaches, European Physics Journal B 71 (2009) 243-250], we find that the cross-correlations were significant even for large lagged orders. Using the detrended cross-correlation analysis proposed by Podobnik and Stanley [Detrended cross-correlation analysis: a new method for analyzing two nonstationary time series, Physics Review Letters 100 (2008) 084102], we find that the cross-correlations were weakly persistent and were stronger between spot and futures contract with larger maturity. Our results from rolling sample test also show the apparent effects of the exogenous events. Additionally, we have some relevant discussions on the obtained evidence.

  1. Stochastic price modeling of high volatility, mean-reverting, spike-prone commodities: The Australian wholesale spot electricity market

    International Nuclear Information System (INIS)

    Higgs, Helen; Worthington, Andrew

    2008-01-01

    It is commonly known that wholesale spot electricity markets exhibit high price volatility, strong mean-reversion and frequent extreme price spikes. This paper employs a basic stochastic model, a mean-reverting model and a regime-switching model to capture these features in the Australian national electricity market (NEM), comprising the interconnected markets of New South Wales, Queensland, South Australia and Victoria. Daily spot prices from 1 January 1999 to 31 December 2004 are employed. The results show that the regime-switching model outperforms the basic stochastic and mean-reverting models. Electricity prices are also found to exhibit stronger mean-reversion after a price spike than in the normal period, and price volatility is more than fourteen times higher in spike periods than in normal periods. The probability of a spike on any given day ranges between 5.16% in NSW and 9.44% in Victoria

  2. Multifractal features of spot rates in the Liquid Petroleum Gas shipping market

    International Nuclear Information System (INIS)

    Engelen, Steve; Norouzzadeh, Payam; Dullaert, Wout; Rahmani, Bahareh

    2011-01-01

    We investigate for the first time the spot rate dynamics of Very Large Gas Carriers (VLGCs) by means of multifractal detrended fluctuation analysis (MF-DFA) and rescaled range (R/S) analysis. Both non-parametric methods allow for a rigorous statistical analysis of the freight process by detecting correlation, scaling and fluctuation behavior regardless of nonlinearity issues. By applying different data-frequencies and a temporal framework, the Hurst exponents indicate that freight rates exhibit trend-reinforcement and persistence subject to limited time-dependency and controlled volatility. The found long-range dependence corroborates that a predictive freight model can be built undermining the efficient market hypothesis. Memory effects seem to each time build up until they are interrupted by seasonal transitions, stochastic events or cycles which all spark a sudden loss in correlations or increase in nonlinearities. The surrogate and shuffling data procedures demonstrate that, dependent on the data-frequency used, memory effects and fat-tail distributions should be contained differently in freight rate models.

  3. Water: The Only Factor Influencing the Price of Energy in the Spot Market?

    Directory of Open Access Journals (Sweden)

    Vinicius Mothé Maia

    2016-04-01

    Full Text Available The Brazilian electric energy generation system is based on its hydroelectric power plants, making the country dependent on proper rainfall and, thus, raising the possibility of energy stress situations, such as the energy-rationing scenario observed in the beginning of the century and the latest water crisis (2014. Moments of water scarcity are followed by an increase in energy prices, which affects the economy as whole. Therefore, it is relevant to understand which factors in the Brazilian Electric System affect the energy price and the individual importance of each. This paper aimed to analyze which the key variables influencing the energy price in the spot market are by using official data from the National Electric System Operator. The used data was from the period July/2001 to July/2014, which was employed in a multiple regression methodology along with time series. The results suggest an inverse relationship between the natural flow of rivers (directly related to rainfall and the energy price. Moreover, they also point to an inverse relationship between the potential energy stored in reservoirs as water and the energy price.

  4. Modeling hourly Electricity Spot Market Prices as non stationary functional times series

    OpenAIRE

    Liebl, Dominik

    2010-01-01

    The instantaneous nature of electricity distinguishes its spot prices from spot prices for equities and other commodities. Up to now electricity cannot be stored economically and therefore demand for electricity has an untempered effect on electricity prices. In particular, hourly electricity spot prices show a vast range of dynamics which can change rapidly. In this paper we introduce a robust version of functional principal component analysis for sparse data. The functional perspective inte...

  5. Bilateral contracts and the spot market for electricity: some observations on the British and the NordPool experiences

    International Nuclear Information System (INIS)

    Herguera, Inigo

    2000-01-01

    The performance of the futures and the spot market for electricity in England and Wales (EW) and in the Nordic countries have significant differences in terms of volumes traded and evolution of prices. Even though the institutional arrangements show significant differences and the data collected has important limitations we observe in EW for 1990-199 that as the coverage via bilateral contracts diminished, spot prices tended to increase, there was higher price volatility and an increasing number of plants were declared unavailable. In the NordPool, by contrast, market structure is more distributed, the bilateral contract price has tended to smooth the volatility in the spot price and a very diverse pattern behavior of prices has been observed. We interpret these observations as additional support in favor of the theoretical result by and Vila (Journal of Economic Theory 59 (1993) 1), but hint at the possibility of strategies by the firms that can diminish the welfare enhancing properties of this new bilateral market. (Author)

  6. Convergence of European spot market prices for natural gas. A Real-Time Analysis of market integration using the Kalman filter

    International Nuclear Information System (INIS)

    Siliverstovs, Boriss; Neumann, Anne

    2005-01-01

    This paper provides a textbook example of an econometric analysis of the integration between two commodity markets and the subsequent price convergence or absence thereof. We analyze price relations between spot markets for natural gas in Europe. The European market for natural gas is currently undergoing a liberalization process with the aim of creating a single, unified market. We use time-varying coefficient estimation models, applying the Kalman filter to test whether price convergence between different locations is really taking place. Our results reveal that the construction of a pipeline between the UK and Zeebrugge (Belgium) has lead to almost perfect price convergence between theses locations; on the other hand, liberalization on the European continent does not seem to be working so far. (Author)

  7. Anti-correlation and multifractal features of Spain electricity spot market

    NARCIS (Netherlands)

    Norouzzadeh, Payam; Dullaert, W.; Rahmani, Bahareh

    2007-01-01

    We use multifractal detrended fluctuation analysis (MF-DFA) to numerically investigate correlation, persistence, multifractal properties and scaling behavior of the hourly spot prices for the Spain electricity exchange-Compania O Peradora del Mercado de Electricidad (OMEL). Through multifractal

  8. Depósito elevado para la Fiat

    Directory of Open Access Journals (Sweden)

    Nervi, Pier Luigi

    1965-07-01

    Full Text Available At the Turin Fiat factory an elevated water tank has been built, with a capacity of 2,000 m3 60 m above the ground, and cup shaped. The structure is reinforced concrete, and prefabricated panels are used, which are supported by a concrete disc, a cylindrical crown and radial ribs. The whole rests on piles. The stem is 8 m in diameter, and has been constructed with the aid of U shaped cylindrical panels, 3 cm in thickness, which served as external formwork for the stem walls. These are 60 cm thick at the bottom, and 50 cm at the top. The tank itself is a paraboloid, made with triangular panels which together form conical circular rings. These also served as formwork, and were supported by a tubular scaffolding. An observation post has been built on top of the tank. It is 25 m in diameter, and is covered with a ribbed spherical cupola, supported by hinged columns, which allow radial deformations, which are not transmitted to the top ring of the tank. The latter, being full of water, is kept at a more uniform temperature than the cupular roof, which is fully exposed to the weather.En la factoría Fiat, de Turín (Italia, se ha construido este depósito elevado, en forma de copa, de 2.000 m3 de capacidad y unos 60 m de altura sobre el suelo. Es de hormigón armado y paneles prefabricados, apoyándose sobre un disco de hormigón, una corona cilíndrica y contrafuertes radiales; todo lo cual descansa sobre pilotes. El fuste, de 8 m de diámetro, se ha construido con la ayuda de una serie de paneles, de superficie cilíndrica y sección transversal en forma de U con alas asimétricas, de 3 cm de espesor, que sirvieron de encofrado exterior en el hormigonado de las paredes, cuyo espesor varía de 60 cm en la zona inferior a 50 cm en la superior. La cubeta es un meridiano parabólico de revolución, constituido por paneles triangulares, formando anillos troncocónicos, que se utilizaron también como encofrado, apoyado sobre un entramado tubular en

  9. A time-series analysis of the crude oil spot and futures markets

    International Nuclear Information System (INIS)

    Quan Jing.

    1990-01-01

    First, the existence of the relationship is tested. Second, after the relationship is established, it is tested to determine the direction of causality. Most of previous research on this issue ignored the first step, and the existence of the relationship was taken for granted. Unfortunately, however, this assumption is not justified since it does not necessarily hold. The first relationship investigated in this study is between the crude oil spot and futures prices. It is found that spot price leads futures prices instead of the futures price providing information on the spot price. Two additional relationships studied are those between the OPEC oil supply and the futures prices and that between the same supply and spot prices. In the case of OPEC supply and spot prices, a self-adaptive model with supply interruption dummy variables is introduced to study the price behavior. It is found that prices follow an adaptive process, that is, the previous price information offers powerful influence on the current price

  10. Facilitators and impediments in the adoption and implementation of the HubSpot marketing automation system

    OpenAIRE

    Leinonen, Miira

    2017-01-01

    Marketing automation is growing popularity among companies but it has not yet received great academic interest. Therefore, neither marketing automation systems have been studied thoroughly. Other preceding systems in marketing and sales, such as customer relationship management (CRM) and sales force automation (SFA) have however been explored comprehensively. The goal of this research is to increase the understanding of successful adoption and implementation of a marketing automation syst...

  11. Multifractal features of spot rates in the Liquid Petroleum Gas shipping market

    NARCIS (Netherlands)

    Engelen, Steve; Norouzzadeh, Payam; Dullaert, Wout; Rahmani, Bahareh

    We investigate for the first time the spot rate dynamics of Very Large Gas Carriers (VLGCs) by means of multifractal detrended fluctuation analysis (MF-DFA) and rescaled range (R/S) analysis. Both non-parametric methods allow for a rigorous statistical analysis of the freight process by detecting

  12. Conjectural variation based learning model of strategic bidding in spot market

    International Nuclear Information System (INIS)

    Yiqun Song; Yixin Ni; Fushuan Wen; Wu, F.F.

    2004-01-01

    In actual electricity market, which operates repeatedly on the basis of one hour or half hour, each firm might learn or estimate other competitors' strategic behaviors from available historical market operation data, and rationally aims at its maximum profit in the repeated biddings. A conjectural variation based learning method is proposed in this paper for generation firm to improve its strategic bidding performance. In the method, each firm learns and dynamically regulates its conjecture upon the reactions of its rivals to its bidding according to available information published in the electricity market, and then makes its optimal generation decision based on the updated conjectural variation of its rivals. Through such learning process, the equilibrium reached in the market is proven a Nash equilibrium. Motivation of generation firm to learn in the changing market environment and consequence of learning behavior in the market are also discussed through computer tests. (author)

  13. The exceedance and cross-correlations between the gold spot and futures markets

    Science.gov (United States)

    Ruan, Qingsong; Huang, Ying; Jiang, Wei

    2016-12-01

    This paper investigates the dynamic features of cross-correlations and exceedance correlations between COMEX gold spot and futures returns using the detrended cross-correlation analysis (DCCA) and a test for symmetrical exceedance correlation. First, we examine the cross-correlations both qualitatively and quantitatively by employing the cross-correlations test and the DCCA method. We find that the cross-correlations are significant for all lagged orders and are weakly persistent. Our results from a rolling sample test also show that some exogenous events can apparently affect the cross-correlations between gold spot and futures returns. Second, after employing the test statistic, our empirical results show that the exceedance correlations between spot and futures returns are both positive and symmetric, indicating that the two returns co-move in the same direction and that the correlations between them are symmetrical for the upper and lower of the returns. However, the results from the rolling sample show that occasional events can induce significant asymmetries of exceedance correlations.

  14. Task Balanced Workflow Scheduling Technique considering Task Processing Rate in Spot Market

    Directory of Open Access Journals (Sweden)

    Daeyong Jung

    2014-01-01

    Full Text Available Recently, the cloud computing is a computing paradigm that constitutes an advanced computing environment that evolved from the distributed computing. And the cloud computing provides acquired computing resources in a pay-as-you-go manner. For example, Amazon EC2 offers the Infrastructure-as-a-Service (IaaS instances in three different ways with different price, reliability, and various performances of instances. Our study is based on the environment using spot instances. Spot instances can significantly decrease costs compared to reserved and on-demand instances. However, spot instances give a more unreliable environment than other instances. In this paper, we propose the workflow scheduling scheme that reduces the out-of-bid situation. Consequently, the total task completion time is decreased. The simulation results reveal that, compared to various instance types, our scheme achieves performance improvements in terms of an average combined metric of 12.76% over workflow scheme without considering the processing rate. However, the cost in our scheme is higher than an instance with low performance and is lower than an instance with high performance.

  15. An empirical study on impact of index futures trading on spot market ...

    African Journals Online (AJOL)

    KCA Journal of Business Management ... In this paper, an attempt is made to investigate the effect of futures trading on the volatility and operating efficiency of the underlying Indian stock market by taking a sample of selected individual ... Key Words: Futures, Financial Engineering, NSE Nifty, Event study, Market Efficiency.

  16. Forecasting day ahead electricity spot prices: The impact of the EXAA to other European electricity markets

    OpenAIRE

    Ziel, Florian; Steinert, Rick; Husmann, Sven

    2015-01-01

    In our paper we analyze the relationship between the day-ahead electricity price of the Energy Exchange Austria (EXAA) and other day-ahead electricity prices in Europe. We focus on markets, which settle their prices after the EXAA, which enables traders to include the EXAA price into their calculations. For each market we employ econometric models to incorporate the EXAA price and compare them with their counterparts without the price of the Austrian exchange. By employing a forecasting study...

  17. Volatility spillover from world oil spot markets to aggregate and electricity stock index returns in Turkey

    International Nuclear Information System (INIS)

    Soytas, Ugur; Oran, Adil

    2011-01-01

    This study examines the inter-temporal links between world oil prices, ISE 100 and ISE electricity index returns unadjusted and adjusted for market effects. The traditional approaches could not detect a causal relationship running from oil returns to any of the stock returns. However, when we examine the causality using Cheung-Ng approach we discover that world oil prices Granger cause electricity index and adjusted electricity index returns in variance, but not the aggregate market index returns. Hence, our results show that the Cheung-Ng procedure with the use of disaggregated stock index returns can uncover new information that went unnoticed with the traditional causality tests using aggregated market indices. (author)

  18. The MiSPOT System: Personalized Publicity and Marketing over Interactive Digital TV

    Science.gov (United States)

    López-Nores, Martín; Pazos-Arias, José Juan; Blanco-Fernández, Yolanda; García-Duque, Jorge; Tubío-Pardavila, Ricardo; Rey-López, Marta

    The development of Interactive Digital TV bears a great potential for electronic commerce, which remains heavily underexploited to date. The early initiatives to harness these technologies rely on the advertising techniques traditionally employed by the television industry, which have proven deficiencies related to viewers' comfort, locality and targeting. Furthermore, out of dedicated channels, there are very few attempts to provide interactive commercial functionalities through the TV, for example to sell products or to hire services. This chapter presents an overview of a system called MiSPOT that introduces solutions to these problems in two levels: (i) to advertise items that match the preferences and needs of the viewers, without interfering with their enjoyment of the TV programs; and (ii) to assemble specialized interactive applications that provide them with tailor-made commercial functionalities. These solutions are grounded on techniques from the Semantic Web, and are valid for both domestic TV receivers and mobile ones.

  19. FIAT-i juht : maailma jääb alles vaid kuus suurt autotootjat / Erik Aru

    Index Scriptorium Estoniae

    Aru, Erik

    2008-01-01

    FIAT-i tegevjuhi Sergio Marchionne hinnangul jääb kriisi lõpuks alles üks Ameerika, üks Saksa, üks Prantsuse, üks Hiina ja üks võimalik üleeuroopaline autotootja. Analüütik Jürgen Pieperi hinnangul on kõige haavatavamad FIAT, BMW ja PSA/Peugeot-Citroen, alles jäävad VW, Renault-Nissan ja Daimler

  20. Congestion-Driven Transmission Expansion Planning Considering Wind Power Generation in Spot Markets

    OpenAIRE

    Hamdi, Mohammd

    2017-01-01

    The integration of a massive number of large-scale wind turbines brought about urgent technical challenge to power transmission network operators in terms of secure power supply and energy dispatching optimization. In this paper, an optimal framework is proposed for transmission expansion planning in a deregulated power market environment. The level of congestion in the network is utilized as the driving signal for the need of network expansion. A compromise between the congestion cost and th...

  1. Impacts of subsidized renewable electricity generation on spot market prices in Germany: evidence from a Garch model with panel data

    International Nuclear Information System (INIS)

    Pham, Thao; Lemoine, Killian

    2015-01-01

    Electricity generated by renewable energy sources creates a downward pressure on wholesale prices through - the so-called 'merit order effect'. This effect tends to lower average power prices and average market revenue that renewables producers should have received, making integration costs of renewables very high at large penetration rate. It is therefore crucial to determine the amplitude of this merit order effect particularly in the context of increasing burden of renewable support policies borne by final consumers. Using hourly data for the period 2009-2012 in German electricity wholesale market for GARCH model under panel data framework, we find that wind and solar power generation injected into German electricity network during this period induces a decrease of electricity spot prices and a slight increase of their volatility. The model-based results suggest that the merit-order effect created by renewable production ranges from 3.86 to 8.34 euro/MWh which implies to the annual volume of consumers' surplus from 1.89 to 3.92 billion euros. However this surplus has not been re-distributed equally among different types of electricity consumers. (authors)

  2. SpotADAPT

    DEFF Research Database (Denmark)

    Kaulakiene, Dalia; Thomsen, Christian; Pedersen, Torben Bach

    2015-01-01

    by Amazon Web Services (AWS). The users aiming for the spot market are presented with many instance types placed in multiple datacenters in the world, and thus it is difficult to choose the optimal deployment. In this paper, we propose the framework SpotADAPT (Spot-Aware (re-)Deployment of Analytical...... execution within boundaries). Moreover, during the execution of the workload, SpotADAPT suggests a redeployment if the current spot instance gets terminated by Amazon or a better deployment becomes possible due to fluctuations of the spot prices. The approach is evaluated using the actual execution times...

  3. Buying natural gas in the spot market: risks related to the natural gas industry globalization; Aquisicao de gas natural em bases 'spot': riscos associados a globalizacao da industria do gas natural

    Energy Technology Data Exchange (ETDEWEB)

    Mathias, Melissa Cristina [PETROBRAS S.A., Rio de Janeiro, RJ (Brazil); Szklo, Alexandre Salem [Universidade Federal do Rio de Janeiro (UFRJ), RJ (Brazil). Coordenacao dos Programas de Pos-graduacao de Engenharia (COPPE). Programa de Planejamento Energetico

    2008-07-01

    The growth of the international natural gas trade during the last decade resulted in the expectation that this product would be traded as a commodity. This expectation created a boom in the investments related to the commercialization of natural gas between borders, especially in the distinct segments of the chain of liquefied natural gas (LNG). Different agents launched themselves into liquefaction and regasification enterprises, and the ordering of ships also showed significant growth. Despite that, the natural gas market still cannot be considered global, and international gas transactions are primarily done within regional markets. This article investigates the challenges posed to the constitution of a global natural gas market. These challenges represent risks to the commercialization of this product in spot bases, for the agents that launch themselves into projects to export or import LNG to be commercialized through short term contracts in the international market for this product. (author)

  4. The influence of global benchmark oil prices on the regional oil spot market in multi-period evolution

    International Nuclear Information System (INIS)

    Jiang, Meihui; An, Haizhong; Jia, Xiaoliang; Sun, Xiaoqi

    2017-01-01

    Crude benchmark oil prices play a crucial role in energy policy and investment management. Previous research confined itself to studying the static, uncertain, short- or long-term relationship between global benchmark oil prices, ignoring the time-varying, quantitative, dynamic nature of the relationship during various stages of oil price volatility. This paper proposes a novel approach combining grey relation analysis, optimization wavelet analysis, and Bayesian network modeling to explore the multi-period evolution of the dynamic relationship between global benchmark oil prices and regional oil spot price. We analyze the evolution of the most significant decision-making risk periods, as well as the combined strategy-making reference oil prices and the corresponding periods during various stages of volatility. Furthermore, we determine that the network evolution of the quantitative lead/lag relationship between different influences of global benchmark oil prices shows a multi-period evolution phenomenon. For policy makers and market investors, our combined model can provide decision-making periods with the lowest expected risk and decision-making target reference oil prices and corresponding weights for strategy adjustment and market arbitrage. This study provides further information regarding period weights of target reference oil prices, facilitating efforts to perform multi-agent energy policy and intertemporal market arbitrage. - Highlights: • Multi-period evolution of the influence of different oil prices is discovered. • We combined grey relation analysis, optimization wavelet and Bayesian network. • The intensity of volatility, synchronization, and lead/lag effects are analyzed. • The target reference oil prices and corresponding period weights are determined.

  5. Trouble Spots in Online Direct-to-Consumer Prescription Drug Promotion: Teaching Drug Marketers How to Inform Better or Spin Better?

    Science.gov (United States)

    Doran, Evan

    2016-01-01

    Hyosun Kim’s report "Trouble Spots in Online Direct to Consumer Prescription Drug Promotion: A content Analysis of FDA Warning Letters" aims to teach marketers how to avoid breaching current Food and Drug Administration (FDA) guidelines in their online drug promotion. While Kim hopes to minimise the potential for online promotion to misinform consumers and the study is carefully conducted, teaching drug marketers how to avoid the common mistakes in online drug promotion is more likely to make marketers more adept at spinning information than appropriately balancing it PMID:27239884

  6. Artificial neural networks applied to the prediction of spot prices in the market of electric energy; Redes neurais artificiais aplicadas na previsao de precos spot no mercado de energia eletrica

    Energy Technology Data Exchange (ETDEWEB)

    Rodrigues, Alcantaro Lemes; Grimoni, Jose Aquiles Baesso [Univesidade de Sao Paulo (USP), SP (Brazil). Inst. de Eletrotecnica e Energia], emails: alcantaro@iee.usp.br, aquiles@iee.usp.br

    2010-07-01

    The commercialization of electricity in Brazil as well as in the world has undergone several changes over the past 20 years. In order to achieve an economic balance between supply and demand of the good called electricity, stakeholders in this market follow both rules set by society (government, companies and consumers) and set by the laws of nature (hydrology). To deal with such complex issues, various studies have been conducted in the area of computational heuristics. This work aims to develop a software to forecast spot market prices in using artificial neural networks (ANN). ANNs are widely used in various applications especially in computational heuristics, where non-linear systems have computational challenges difficult to overcome because of the effect named 'curse of dimensionality'. This effect is due to the fact that the current computational power is not enough to handle problems with such a high combination of variables. The challenge of forecasting prices depends on factors such as: (a) foresee the demand evolution (electric load); (b) the forecast of supply (reservoirs, hydrology and climate), capacity factor; and (c) the balance of the economy (pricing, auctions, foreign markets influence, economic policy, government budget and government policy). These factors are considered be used in the forecasting model for spot market prices and the results of its effectiveness are tested and huge presented. (author)

  7. Ergonomics and workplace design: application of Ergo-UAS System in Fiat Group Automobiles.

    Science.gov (United States)

    Vitello, M; Galante, L G; Capoccia, M; Caragnano, G

    2012-01-01

    Since 2008 Fiat Group Automobiles has introduced Ergo-UAS system for the balancing of production lines and to detect ergonomic issues. Ergo-UAS system integrates 2 specific methods: MTM-UAS for time measurement and EAWS as ergonomic method to evaluate biomechanical effort for each workstation. Fiat is using a software system to manage time evaluation and ergo characterization of production cycle (UAS) to perform line balancing and obtain allowance factor in all Italian car manufacturing plant. For new car models, starting from New Panda, FGA is applying Ergo-UAS for workplace design since the earliest phase of product development. This means that workplace design is based on information about new product, new layout, new work organization and is performed by a multidisciplinary team (Work Place Integration Team), focusing on several aspects of product and process: safety, quality and productivity. This allows to find and solve ergonomic threats before the start of production, by means of a strict cooperation between product development, engineering and design, manufacturing. Three examples of workstation design are presented in which application of Ergo-UAS was determinant to find out initial excessive levels of biomechanical load and helped the process designer to improve the workstations and define limits of acceptability. Technical activities (on product or on process), or organizational changes, that have been implemented in order to solve the problems are presented. A comparison between "before" and "new" ergonomic scores necessary to bring workstations in acceptable conditions were made.

  8. Simulation of diesel engine emissions on the example of Fiat Panda in the NEDC test

    Science.gov (United States)

    Botwinska, Katarzyna; Mruk, Remigiusz; Słoma, Jacek; Tucki, Karol; Zaleski, Mateusz

    2017-10-01

    Road transport may be deemed a strategic branch of modern economy. Unfortunately, a rapid increase in the number of on-road motor vehicles entails some negative consequences as well, for instance, excessive concentration of exhausts produced by engines which results in deterioration of air quality. EURO emission standards which define acceptable limits for exhaust emissions of power units is an example of an activity performed in attempt to improve air quality. The EURO standard defines permissible amount of exhausts produced by a vehicle. Presently new units are examined through NEDC test. For the purpose of this thesis, a virtual test stand in a form of a computer simulation of a chassis dynamometer was used to simulate emission of a diesel engine (compression-ignition engine) in the NEDC test. Actual parameters of the 1.3 MultiJet engine of the Fiat Panda passenger car of 2014 were applied in the model. The simulation was carried out in the Matlab Simulink environment. The simulation model of the Fiat Panda passenger car enables the designation of the emission waveform for all test stages which corresponds to the values received during an approval test in real-life conditions.

  9. Simulation of diesel engine emissions on the example of Fiat Panda in the NEDC test

    Directory of Open Access Journals (Sweden)

    Botwinska Katarzyna

    2017-01-01

    Full Text Available Road transport may be deemed a strategic branch of modern economy. Unfortunately, a rapid increase in the number of on-road motor vehicles entails some negative consequences as well, for instance, excessive concentration of exhausts produced by engines which results in deterioration of air quality. EURO emission standards which define acceptable limits for exhaust emissions of power units is an example of an activity performed in attempt to improve air quality. The EURO standard defines permissible amount of exhausts produced by a vehicle. Presently new units are examined through NEDC test. For the purpose of this thesis, a virtual test stand in a form of a computer simulation of a chassis dynamometer was used to simulate emission of a diesel engine (compression-ignition engine in the NEDC test. Actual parameters of the 1.3 MultiJet engine of the Fiat Panda passenger car of 2014 were applied in the model. The simulation was carried out in the Matlab Simulink environment. The simulation model of the Fiat Panda passenger car enables the designation of the emission waveform for all test stages which corresponds to the values received during an approval test in real-life conditions.

  10. Modeling methods for GenCo bidding strategy optimization in the liberalized electricity spot market-A state-of-the-art review

    International Nuclear Information System (INIS)

    Li, Gong; Shi, Jing; Qu, Xiuli

    2011-01-01

    The electricity market has since 1980s been gradually evolving from a monopoly market into a liberalized one for encouraging competition and improving efficiency. This brings the opportunity for generation companies (GenCos) to make more profits while embracing more risks of not being dispatched. Therefore, it has become a core interest for the GenCos to develop optimal bidding strategies to maximize the profits and minimize the risks while participating in such a competitive market. The literature pertaining to this issue has grown rapidly in recent years, and many different modeling approaches, such as mathematical programming, game theory, and agent-based models, have been investigated under the liberalized market environment. Meanwhile, along with the increasing penetration of renewable energy, the electricity market is facing more complexity and stochasticity from both uncertain generation and dynamic demands. The intermittent and unsteady nature of these renewable power sources motivates the GenCos to further optimize their bidding strategy by considering the new constraints. This paper presents a comprehensive literature analysis on the state-of-the-art research of bidding strategy modeling methods. -- Highlights: → Publications on bidding in electricity spot markets are comprehensively reviewed. → Insights on the evolution of solution methodologies of recent 10 years are provided. → The pros and cons of these solution approaches are also discussed. → Future research directions, with renewable energy participations, are pointed out.

  11. 'ISL pattern reserve requirements for today's spot price,' or 'how many in-place pounds are needed for a mining pattern to be profitable in today's market'

    International Nuclear Information System (INIS)

    Anthony, H.L.

    2000-01-01

    Recent uranium spot market values place additional burdens on the geologist and project manager to identify mineralized ore that will yield a profitable return on investment to the mining venture and its investors. The author reviews the various cost components that comprise the total work effort required to produce uranium via ISL methods to arrive at a suitable ore grade that will guarantee profitably. Amortization of costs based on recent expenditures for typical ISL operations are used in conjunction with wellfield development, operating and restoration costs to determine the ore value required to show a positive return on investment. (author)

  12. Fiat versus Representative Money under Debate, or How Right Keynes Was Once (!

    Directory of Open Access Journals (Sweden)

    Liviu C. ANDREI

    2011-05-01

    Full Text Available The applied economics understands the concept of money nearly exclusively through the quantitative theory, which certainly remains one of the greatest theories in this topic area. On the other hand, the history of money – be it old or contemporary -- finds two other “nonquantitative” theories as more relevant in the respect that they are able to “cover” this history – these are representative and fiat money. Then, there comes the interesting point: this history “covered”, meaning a full explaining of facts would be made by the two theories and images of the same money just “together”—which is impossible in basic good sense terms, as money (as anything else cannot be real and fictitious value in the same time.

  13. Bootstrap Score Tests for Fractional Integration in Heteroskedastic ARFIMA Models, with an Application to Price Dynamics in Commodity Spot and Futures Markets

    DEFF Research Database (Denmark)

    Cavaliere, Giuseppe; Nielsen, Morten Ørregaard; Taylor, A.M. Robert

    Empirical evidence from time series methods which assume the usual I(0)/I(1) paradigm suggests that the efficient market hypothesis, stating that spot and futures prices of a commodity should cointegrate with a unit slope on futures prices, does not hold. However, these statistical methods...... fractionally integrated model we are able to find a body of evidence in support of the efficient market hypothesis for a number of commodities. Our new tests are wild bootstrap implementations of score-based tests for the order of integration of a fractionally integrated time series. These tests are designed...... principle do. A Monte Carlo simulation study demonstrates that very significant improvements infinite sample behaviour can be obtained by the bootstrap vis-à-vis the corresponding asymptotic tests in both heteroskedastic and homoskedastic environments....

  14. Econometric study of the spanish electricity spot market and primary energy markets using VAR/VECM methodology: (cointegration and nonstationary time series)

    OpenAIRE

    Pacheco, Ricardo Francisco Firmino Mendes

    2010-01-01

    Mestrado em Finanças/ C32, G12, Q43 The aim of this work is to study the dynamic relationship between prices of wholesale electricity market in Spain and prices of the main fuel references to generate electricity (coal, crude oil, gasoil and natural gas). The dynamic relationship between the various interconnected electrical systems (Spain and Portugal, Spain and France), using as reference prices for wholesale electricity markets formed in each electrical system, is al...

  15. The recent situation of technology exchange in Europe: On-the spot study on movement toward integration of EC market

    Science.gov (United States)

    Kawasaki, Jun'ichi; Hyoki, Yasuyoshi

    The political and economic environment of EC has been changing drastically aiming at the EC market integration in 1992. Economy in EC has been stagnant among free economy world covering U.S., Japan and Europe, which is due to lag in the structural adjustment as well as decline in international competitive ability. EC recognizes that development of science and technology of which core is highly advanced technology is driving force for activating economy within the Community. This is the first motivation for EC to take one step forward toward the market integration. Such EC's determination is reflected in pushing forward conception of European technological community represented by EUREKA Project. Products Exhibitions, Science and Technology Trade Fairs and so on, which are held in EC countries, emphasize "Europe characterized by Technology" being conscious of the market integration three and a half years ahead. EC is also eager to construct database networks both inside and outside the Community to catch up with the progress in technology.

  16. The Merit-order effect. A detailed analysis of the price effect of renewable electricity generation on spot market prices in Germany

    Energy Technology Data Exchange (ETDEWEB)

    Sensfuss, F.; Ragwitz, M.; Genoese, M.

    2007-07-01

    The German feed-in support of electricity generation from renewable energy sources has led to high growth rates of the supported technologies. Critics state that the costs for consumers are too high. An important aspect to be considered in the discussion is the price effect created by renewable electricity generation. This paper seeks to analyse the impact of privileged renewable electricity generation on the electricity market in Germany. The central aspect to be analysed is the impact of renewable electricity generation on spot market prices. The results generated by an agent-based simulation platform indicate that the financial volume of the price reduction is considerable. In the short run, this gives rise to a distributional effect which creates savings for the demand side by reducing generator profits. In the case of the year 2006, the volume of the merit-order effect exceeds the volume of the net support payments for renewable electricity generation which have to be paid by consumers. (orig.)

  17. Evaluation of Corporate Social Responsibility Programme by Application of Balanced Scorecard: A Case Study of Fiat Automobiles’ Cooperárvore Programme

    Directory of Open Access Journals (Sweden)

    Osvaldo Maurício de Oliveira

    2016-05-01

    Full Text Available This article sets out to assess Cooperárvore, FIAT Automobiles’ labour corporative project within its “Árvore da Vida” Corporate Social Responsibility Programme, in the city of Betim, in the State of Minas Gerais. This is a descriptive case study whose overall aim is to measure the scope of the automaker’s social actions promoting the development of Jardim Teresópolis neighbourhood, by way of job and income generation, reduction of social vulnerability and economic and human development. Its specific objective is to present an evaluation and monitoring pattern of a social responsibility project by application of the Balanced Scorecard tool (BSC, in order to allow for improving management and inspire other corporate social initiatives. In the theoretical framework, the importance of corporate social responsibility has been studied in sustainable development, as well as concepts and models of evaluation of social projects. The survey was conducted based on documents related to Árvore da Vida and on interviews involving the programme’s managers and beneficiaries, in a qualitative perspective. From data analysis, positive results with significant advances in the beneficiaries and community development can be noticed. However, at some points it can be seen that the cooperative is not yet able to sustain itself, mainly due to its market limitations, depending on financial contributions and participation of the current sponsor in its management. This requires the management team to adopt some strategic definitions in order to implement short and medium term solutions to broaden the cooperative market to ensure their autonomy and sustainability.

  18. Iniciativa privada na Educação pública: a Fiat e o Programa Moto Perpétuo Private Initiative in Public Education: Fiat and the Moto Perpétuo Program

    OpenAIRE

    Oswaldo Gonçalves Junior

    2008-01-01

    O artigo apresenta os principais resultados de um estudo de caso sobre o Programa Moto Perpétuo da Fiat Automóveis S. A. que, durante cinco anos (1997-2001), voltou-se à doação de kits de materiais paradidáticos para milhares de escolas de diferentes regiões do Brasil. Apesar do amplo alcance do Programa, base na qual seus promotores se apoiaram para afirmar tratar-se da maior parceria da iniciativa privada com o governo federal dentro do Acorda Brasil! Está na hora da Escola do MEC, não havi...

  19. Trouble Spots in Online Direct-to-Consumer Prescription Drug Promotion: Teaching Drug Marketers How to Inform Better or Spin Better? Comment on "Trouble Spots in Online Direct-to-Consumer Prescription Drug Promotion: A Content Analysis of FDA Warning Letters".

    Science.gov (United States)

    Doran, Evan

    2016-02-21

    Hyosun Kim's report "Trouble Spots in Online Direct to Consumer Prescription Drug Promotion: A content Analysis of FDA Warning Letters" aims to teach marketers how to avoid breaching current Food and Drug Administration (FDA) guidelines in their online drug promotion. While Kim hopes to minimise the potential for online promotion to misinform consumers and the study is carefully conducted, teaching drug marketers how to avoid the common mistakes in online drug promotion is more likely to make marketers more adept at spinning information than appropriately balancing it. © 2016 by Kerman University of Medical Sciences.

  20. Trouble Spots in Online Direct-to-Consumer Prescription Drug Promotion: Teaching Drug Marketers How to Inform Better or Spin Better?; Comment on “Trouble Spots in Online Direct-to-Consumer Prescription Drug Promotion: A Content Analysis of FDA Warning Letters”

    Directory of Open Access Journals (Sweden)

    Evan Doran

    2016-05-01

    Full Text Available Hyosun Kim’s report “Trouble Spots in Online Direct to Consumer Prescription Drug Promotion: A content Analysis of FDA Warning Letters”aims to teach marketers how to avoid breaching current Food and Drug Administration (FDA guidelines in their online drug promotion. While Kim hopes to minimise the potential for online promotion to misinform consumers and the study is carefully conducted, teaching drug marketers how to avoid the common mistakes in online drug promotion is more likely to make marketers more adept at spinning information than appropriately balancing it.

  1. Electron energy distribution control by fiat: breaking from the conventional flux ratio scaling rules in etch

    Science.gov (United States)

    Ranjan, Alok; Wang, Mingmei; Sherpa, Sonam; Ventzek, Peter

    2015-03-01

    With shrinking critical dimensions, minimizing each of aspect ratio dependent etching (ARDE), bowing, undercut, selectivity, and within die uniformly across a wafer is met by trading off one requirement against another. The problem of trade-offs is especially critical. At the root of the problem is that roles radical flux, ion flux and ion energy play may be both good and bad. Increasing one parameter helps meeting one requirement but hinders meeting the other. Managing process by managing flux ratios and ion energy alone with conventional sources is not adequate because surface chemistry is uncontrollable. At the root of lack of control is that the electron energy distribution function (eedf) has not been controlled. Fortunately the high density surface wave sources control the eedf by fiat. High density surface wave sources are characterized by distinct plasma regions: an active plasma generation region with high electron temperature (Te) and an ionization free but chemistry rich diffusive region (low Te region). Pressure aids is segregating the regions by proving a means for momentum relaxation between the source and downstream region. "Spatial pulsing" allows access to plasma chemistry with reasonably high ion flux, from the active plasma generation region, just above the wafer. Low plasma potential enables precise passivation of surfaces which is critical for atomic layer etch (ALE) or high precision etch where the roles of plasma species can be limited to their purposed roles. High precision etch need not be at the cost of speed and manufacturability. Large ion flux at precisely controlled ion energy with RLSATM realizes fast desorption steps for ALE without compromising process throughput and precision.

  2. Age Spots

    Science.gov (United States)

    ... for Every Season How to Choose the Best Skin Care Products In This Section Dermatologic Surgery What is dermatologic ... for Every Season How to Choose the Best Skin Care Products Age Spots Treatment Options Learn more about treatment ...

  3. Iniciativa privada na Educação pública: a Fiat e o Programa Moto Perpétuo Private Initiative in Public Education: Fiat and the Moto Perpétuo Program

    Directory of Open Access Journals (Sweden)

    Oswaldo Gonçalves Junior

    2008-04-01

    Full Text Available O artigo apresenta os principais resultados de um estudo de caso sobre o Programa Moto Perpétuo da Fiat Automóveis S. A. que, durante cinco anos (1997-2001, voltou-se à doação de kits de materiais paradidáticos para milhares de escolas de diferentes regiões do Brasil. Apesar do amplo alcance do Programa, base na qual seus promotores se apoiaram para afirmar tratar-se da maior parceria da iniciativa privada com o governo federal dentro do Acorda Brasil! Está na hora da Escola do MEC, não havia, até o momento, nenhum estudo que demonstrasse os efeitos práticos dessa ação, seja na melhoria da Educação, seja nas implicações de um redimensionamento das esferas pública e privada, assunto que acalora muitos debates. Mediante informações obtidas com a realização de entrevistas e pelo levantamento e exame de diversos documentos, pôde-se verificar que as correntes expectativas da eficiência de gestão e transferência de recursos em quantidade e qualidade suficientes não se concretizaram. Não obstante, os números sobre o Programa, comparativamente altos diante de outras iniciativas desse tipo, foram componentes do êxito na construção de uma imagem positiva em diversos setores da opinião pública. Apesar de não se poder afirmar que a iniciativa tenha resultado num avanço privado redefinidor do caráter público dos sistemas estadual e municipal de ensino atingidos, há indícios de que a implementação do Moto Perpétuo esteve condicionada pelas relações público (governo federal - privado (Fiat, representando um inédito capítulo centrado na "Educação", frente a um panorama no qual sobressaem historicamente acordos de ajuda mútua de caráter político-econômico.The article presents the main results of a case study on the Moto Perpétuo [Perpetual Motion] Program by Fiat Automobiles S.A. which for five years (1997-2001 donated kits of auxiliary didactic materials to thousands of schools in various regions of Brazil

  4. SPOT Program

    Science.gov (United States)

    Smith, Jason T.; Welsh, Sam J.; Farinetti, Antonio L.; Wegner, Tim; Blakeslee, James; Deboeck, Toni F.; Dyer, Daniel; Corley, Bryan M.; Ollivierre, Jarmaine; Kramer, Leonard; hide

    2010-01-01

    A Spacecraft Position Optimal Tracking (SPOT) program was developed to process Global Positioning System (GPS) data, sent via telemetry from a spacecraft, to generate accurate navigation estimates of the vehicle position and velocity (state vector) using a Kalman filter. This program uses the GPS onboard receiver measurements to sequentially calculate the vehicle state vectors and provide this information to ground flight controllers. It is the first real-time ground-based shuttle navigation application using onboard sensors. The program is compact, portable, self-contained, and can run on a variety of UNIX or Linux computers. The program has a modular objec-toriented design that supports application-specific plugins such as data corruption remediation pre-processing and remote graphics display. The Kalman filter is extensible to additional sensor types or force models. The Kalman filter design is also strong against data dropouts because it uses physical models from state and covariance propagation in the absence of data. The design of this program separates the functionalities of SPOT into six different executable processes. This allows for the individual processes to be connected in an a la carte manner, making the feature set and executable complexity of SPOT adaptable to the needs of the user. Also, these processes need not be executed on the same workstation. This allows for communications between SPOT processes executing on the same Local Area Network (LAN). Thus, SPOT can be executed in a distributed sense with the capability for a team of flight controllers to efficiently share the same trajectory information currently being computed by the program. SPOT is used in the Mission Control Center (MCC) for Space Shuttle Program (SSP) and International Space Station Program (ISSP) operations, and can also be used as a post -flight analysis tool. It is primarily used for situational awareness, and for contingency situations.

  5. Volume dips; spot price ranges narrow

    International Nuclear Information System (INIS)

    Anon.

    1994-01-01

    This article is the September 1994 uranium market summary. Volume in the spot concentrates market fell below 1 million lbs U3O8. In total, twelve deals took place compared to 28 deals in August. Of the twelve deals, three took place in the spot concentrates market, two took place in the medium and long-term market, three in the conversion market, and four in the enrichment market. Restricted prices weakened, but unrestricted prices firmed slightly. The enrichment price range narrowed a bit

  6. Dark Spots

    Science.gov (United States)

    2006-01-01

    Dark spots (left) and 'fans' appear to scribble dusty hieroglyphics on top of the Martian south polar cap in two high-resolution Mars Global Surveyor, Mars Orbiter Camera images taken in southern spring. Each image is about 3-kilometers wide (2-miles).

  7. Do changes in natural gas futures prices influence changes in natural gas spot prices?

    International Nuclear Information System (INIS)

    Herbert, J.H.

    1993-01-01

    Data on natural gas futures and spot markets are examined to determine if variability in price on futures markets influences variability in price on spot markets. Using econometric techniques, it is found that changes in futures contract prices do not precede changes in spot market prices. (Author)

  8. Gerenciamento de risco cambial na Fiat Automóveis S/A com utilização de hedge sem caixa

    OpenAIRE

    Pereira, Marcus Vinicius Soares

    2003-01-01

    Dissertação (mestrado) - Universidade Federal de Santa Catarina, Centro Tecnológico. Programa de Pós-Graduação em Engenharia de Produção. Este estudo objetivou investigar o processo de gerenciamento de riscos cambial na Fiat Automóveis S/A com utilização de hedge. Tal objetivo evidencia o tipo de pesquisa realizada que caracteriza como sendo exploratório, seguindo o método do estudo de caso. Os dados foram obtidos no Balanço Patrimonial da Fiat Automóveis de 1999, através de fonte primária...

  9. Mongolian spots

    Directory of Open Access Journals (Sweden)

    Divya Gupta

    2013-01-01

    Full Text Available Mongolian spots (MS are birthmarks that are present at birth and their most common location is sacrococcygeal or lumbar area. Lesions may be single or multiple and usually involve < 5% total body surface area. They are macular and round, oval or irregular in shape. The color varies from blue to greenish, gray, black or a combination of any of the above. The size varies from few to more than 20 centimetres. Pigmentation is most intense at the age of one year and gradually fades thereafter. It is rarely seen after the age of 6 years. Aberrant MS over occiput, temple, mandibular area, shoulders and limbs may be confused with other dermal melanocytoses and bruises secondary to child abuse, thus necessitating documentation at birth. Although regarded as benign, recent data suggest that MS may be associated with inborn errors of metabolism and neurocristopathies. Mongolian spots usually resolve by early childhood and hence no treatment is generally needed if they are located in the sacral area. However, sometimes it may be required for extrasacral lesions for cosmesis.

  10. Marketing.

    Science.gov (United States)

    Appel, David L.

    This booklet suggests ways in which institutions--Catholic schools in particular--can move beyond public relations and advertising to engage in the broader arena of marketing with its focus on consumer satisfaction. The first of the book's three chapters reviews the concept of marketing, providing definitions of key terms, clarification of…

  11. Tangible and fungible energy: Hybrid energy market and currency system for total energy management. A Masdar City case study

    International Nuclear Information System (INIS)

    Sgouridis, Sgouris; Kennedy, Scott

    2010-01-01

    We propose the introduction of an energy-based parallel currency as a means to ease the transition to energy-conscious living. Abundant fossil energy resources mask the internal and external energy costs for casual energy consumers. This situation is challenging communities that draw a significant fraction of their primary energy consumption from renewable energy sources. The Masdar Energy Credit (MEC) system is a way of translating the fundamental aspects behind energy generation and usage into a tangible reality for all users with built-in fungibility to incentivize collectively sustainable behavior. The energy credit currency (ergo) corresponds with a chosen unit of energy so that the total amount of ergos issued equals the energy supply of the community. Ergos are distributed to users (residents, commercial entities, employees, and visitors) on a subscription basis and can be surrendered in exchange for the energy content of a service. A spot market pricing mechanism is introduced to relate ergos to 'fiat' currency using a continuously variable exchange rate to prevent depletion of the sustainable energy resource. The MEC system is intended to: (i) meet the sustainable energy balance targets of a community (ii) support peak shaving or load shifting goals, and (iii) raise energy awareness.

  12. Using forward markets to improve electricity market design

    Energy Technology Data Exchange (ETDEWEB)

    Ausubel, Lawrence M.; Cramton, Peter [University of Maryland, College Park, MD 20742 (United States)

    2010-12-15

    Forward markets, both medium term and long term, complement the spot market for wholesale electricity. The forward markets reduce risk, mitigate market power, and coordinate new investment. In the medium term, a forward energy market lets suppliers and demanders lock in energy prices and quantities for one to three years. In the long term, a forward reliability market assures adequate resources are available when they are needed most. The forward markets reduce risk for both sides of the market, since they reduce the quantity of energy that trades at the more volatile spot price. Spot market power is mitigated by putting suppliers and demanders in a more balanced position at the time of the spot market. The markets also reduce transaction costs and improve liquidity and transparency. Recent innovations to the Colombia market illustrate the basic elements of the forward markets and their beneficial role. (author)

  13. Using forward markets to improve electricity market design

    International Nuclear Information System (INIS)

    Ausubel, Lawrence M.; Cramton, Peter

    2010-01-01

    Forward markets, both medium term and long term, complement the spot market for wholesale electricity. The forward markets reduce risk, mitigate market power, and coordinate new investment. In the medium term, a forward energy market lets suppliers and demanders lock in energy prices and quantities for one to three years. In the long term, a forward reliability market assures adequate resources are available when they are needed most. The forward markets reduce risk for both sides of the market, since they reduce the quantity of energy that trades at the more volatile spot price. Spot market power is mitigated by putting suppliers and demanders in a more balanced position at the time of the spot market. The markets also reduce transaction costs and improve liquidity and transparency. Recent innovations to the Colombia market illustrate the basic elements of the forward markets and their beneficial role. (author)

  14. 7 CFR 28.424 - Strict Low Middling Spotted Color.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Strict Low Middling Spotted Color. 28.424 Section 28.424 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards... Spotted Color. Strict Low Middling Spotted Color is color which is within the range represented by a set...

  15. 7 CFR 28.421 - Good Middling Spotted Color.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Good Middling Spotted Color. 28.421 Section 28.421 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards... Color. Good Middling Spotted Color is color which is better than Strict Middling Spotted Color. ...

  16. 7 CFR 28.426 - Strict Good Ordinary Spotted Color.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Strict Good Ordinary Spotted Color. 28.426 Section 28.426 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards... Spotted Color. Strict Good Ordinary Spotted Color is color which is within the range represented by a set...

  17. Markets

    Science.gov (United States)

    David N. Wear; Jeffrey Prestemon; Robert Huggett; Douglas Carter

    2013-01-01

    Key FindingsAlthough timber production in the South more than doubled from the 1960s to the late 1990s, output levels have declined over the last 10 years, signaling structural changes in timber markets.For softwood products, production declines are most clearly related to demand issues. Demand for softwood solid wood products...

  18. Iniciativa privada na Educação pública: a Fiat e o Programa Moto Perpétuo

    OpenAIRE

    Gonçalves Junior,Oswaldo

    2008-01-01

    O artigo apresenta os principais resultados de um estudo de caso sobre o Programa Moto Perpétuo da Fiat Automóveis S. A. que, durante cinco anos (1997-2001), voltou-se à doação de kits de materiais paradidáticos para milhares de escolas de diferentes regiões do Brasil. Apesar do amplo alcance do Programa, base na qual seus promotores se apoiaram para afirmar tratar-se da maior parceria da iniciativa privada com o governo federal dentro do Acorda Brasil! Está na hora da Escola do MEC, não havi...

  19. EVOLUTION OF FIAT AUTOMÓVEIS S.AS STRATEGY VIS-A-VIS COMPETITIVE CHANGES IN THE BRAZILIAN AUTOMOBILE INDUSTRY ENVIRONMENT: A CASE STUDY

    OpenAIRE

    SERGIO MOLINA MICAELO

    2003-01-01

    A Fiat Automóveis S.A. se destacou na indústria automobilística nacional ao atingir, em 2001, a liderança do mercado de automóveis e comerciais leves. A análise desta trajetória avaliou a variação do ambiente competitivo e as estratégias seguidas em dois momentos relevantes determinados por questionário estruturado, que foram 1994 e 2001. A caracterização do ambiente da indústria e das estratégias usaram, respectivamente, o modelo das cinco forças e a tipologia...

  20. Fuel economy and exhaust emissions characteristics of diesel vehicles: Test results of a prototype fiat 131TC 2.4 liter automobile

    Science.gov (United States)

    Quayle, S. S.

    1982-01-01

    The results obtained from fuel economy and emission tests conducted on a prototype Fiat 131 turbocharged diesel vehicle are presented. The vehicle was tested on a chassis dynamometer over selected drive cycles and steady-state conditions. Two fuels were used, a United States number 2 diesel and a European diesel fuel. Particulate emission rates were calculated from dilution tunnel measurements and large volume particulate samples were collected for biological and chemical analysis. It was determined that turbocharging accompanied by complementary modifications results in small but substantial improvements in regulated emissions, fuel economy, and performance. Notably, particulate levels were reduced by 30 percent.

  1. 1996 year-end market review

    International Nuclear Information System (INIS)

    Anon.

    1996-01-01

    A summary of financial data for uranium markets in 1996 is provided. Spot market activity and buyers and sellers of spot uranium are outlined for the restricted and unrestricted market. Data on the concentrates, uranium hexafluoride, enriched uranium product, and term uranium markets are also presented. Market data is also provided for conversion and enrichment services

  2. Reflections on the reporting of the uranium spot price

    International Nuclear Information System (INIS)

    Novak, E.D.

    1984-01-01

    Reporting of the Spot Uranium Price does not represent the uranium market, but actually represents the extremities of a market. The Spot Prices tend to cause instabilities in the market if relied upon too heavily and an excessive use will actually support a questionable transition from a fuel supply industry to a commodities industry. Utility fuel buyers and uranium sellers must be careful how they use the Spot Price, or they will continue to create an unstable supply/demand relationship. But, since we all rely upon statistics for the illusion of independence, we may get the commodities market, assisted along by the information people, whether we want it or not

  3. Market review - Market values summary/August market review/current market data

    International Nuclear Information System (INIS)

    Anon.

    1995-01-01

    This article is the August 1995 uranium market review. During this reporting period, there were three transactions in the long-term concentrates sector, no transactions in the UF6 market, and limited activity in the spot conversion market and the enrichment services market. Active supply rose, as did active demand. Prices were stable to slightly increasing

  4. Market review - Market values summary/July market review/current market data

    International Nuclear Information System (INIS)

    Anon.

    1995-01-01

    This article is the July 1995 uranium market review. Data for current uranium market is presented, and a summary of recent transactions is also given. During this reporting period, there was one concentrate deal, two transactions in the long-term natural uranium market and conversion market, and three spot market transactions in the enrichment market. Active uranium supply fell, as did demand, and prices in all sectors were relatively stable

  5. 28 June 2017 - Italian Agnelli Foundation Vice Chairman, and Fiat Chrysler Automobiles Chairman, J. Elkann signing the guest book with CERN Director-General F. Gianotti

    CERN Multimedia

    Bennett, Sophia Elizabeth

    2017-01-01

    from left to right in 53__MA27642: Scuola di Alta Formazione al Management Project manager R. Movva; Agnelli Foundation Director A. Gavosto; Agnelli Foundation Head of Innovation A. Griva; Scuola di Alta Formazione al Management Director S. Pettochi; Agnelli Foundation Vice Chairman, and Fiat Chrysler Automobiles Chairman J. Elkann; CERN Director-General F. Gianotti; Director for International Relations C. Warakaulle; Management Liaison for the Italian Republic, Engineering Department Head R. Losito; Knowledge Transfer Group Leader G. Anelli. Signature of the Framework agreement between the Scuola di Alta Formazione al Management, represented by Director S. Petocchi and CERN, represented by Director-General F. Gianotti, witnessed by Agnelli Foundation Vice Chairman J. Elkann.

  6. El gigante dormido sale a la calle: construcciones enunciativas de Johnnie Walker y Fiat durante las manifestaciones brasileñas de 2013

    OpenAIRE

    Mandaji, Carolina Fernandes da Silva; Universidade Tecnológica Federal do Paraná

    2014-01-01

    O tema deste trabalho são as manifestações ocorridas nos meses de junho e julho de 2013 em todo o Brasil. Trata-se de uma reflexão sobre as construções enunciativas de discursos midiáticos no cenário nacional e internacional.  Esta investigação se propõe a entender os processos enunciativos, e portanto, discursivos e interacionais no uso da materialidade sincrética e audiovisual de anúncios publicitários das marcas Johnnie Walker e Fiat. Tanto a campanha “Keep walking, Brazil” como  a “Vem pr...

  7. O gigante adormecido vem pra rua: construções enunciativas de Johnnie Walker e Fiat durante as manifestações brasileiras de 2013

    Directory of Open Access Journals (Sweden)

    Carolina Fernandes da Silva Mandaji

    2014-04-01

    Full Text Available O tema deste trabalho são as manifestações ocorridas nos meses de junho e julho de 2013 em todo o Brasil. Trata-se de uma reflexão sobre as construções enunciativas de discursos midiáticos no cenário nacional e internacional.  Esta investigação se propõe a entender os processos enunciativos, e portanto, discursivos e interacionais no uso da materialidade sincrética e audiovisual de anúncios publicitários das marcas Johnnie Walker e Fiat. Tanto a campanha “Keep walking, Brazil” como  a “Vem pra rua” da Fiat foram (re contextualizadas em outros processos enunciativos durante as manifestações brasileiras. Será possível identificar que tipo de interação discursiva ocorre entre marcas e público a partir de tal (re contextualização? Qual relação enunciativa existe entre as marcas e as manifestações e quais são os papeis enunciativos e discursivos propostos por tal relação?  Tais perguntas irão nos levar ao contexto de produção das campanhas, mas também a uma nova apreensão de sentido pautada por processos enunciativos que não os das próprias marcas, mas sim, de novas posições enunciativas. A base metodológica guia-se pelos estudos da Semiótica Discursiva de A. J. Greimas e pelos pressupostos teóricos da Sociossemiótica proposto por Eric Landowski e nas pesquisas de Ana Claudia de Oliveira.

  8. 7 CFR 28.425 - Low Middling Spotted Color.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Low Middling Spotted Color. 28.425 Section 28.425 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards... Color. Low Middling Spotted Color is color which is within the range represented by a set of samples in...

  9. 7 CFR 28.422 - Strict Middling Spotted Color.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Strict Middling Spotted Color. 28.422 Section 28.422 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards... Color. Strict Middling Spotted Color is color which is within the range represented by a set of samples...

  10. Spot volume nearly 5 million lbs; restricted price hits $11.00

    International Nuclear Information System (INIS)

    Anon.

    1995-01-01

    A summary of financial data for the uranium spot market in March 1995 is provided. Price ranges for the restricted and unrestricted markets, conversion, and separative work are listed, and total market volume and new contracts are noted. The 40 transactions made for the month are described separately for each market. Deals made in the spot concentrates, medium and long-term, conversion, and enrichment markets are further detailed for U.S. and non-U.S. buyers

  11. Estimación del precio de oferta de la energía eléctrica en Colombia mediante inteligencia artificial || Estimating the Spot Market Price Bid in Colombian Electricity Market by Using Artificial Intelligence

    Directory of Open Access Journals (Sweden)

    Hurtado Moreno, Laura

    2014-12-01

    Full Text Available Uno de los sectores económicos estratégicos más importantes en cualquier economía es el Mercado de Energía Mayorista, cuya característica fundamental es que se trata de un mercado oligopolístico, provocado por la barrera de entrada que supone tener economías de escala. De esta manera, los agentes pueden presentar comportamientos estratégicos que contribuyen a la maximización de sus utilidades, los cuales se ven reflejados en la oferta diaria del precio y de la cantidad de energía por hora en cada una de sus centrales de generación. En este trabajo se presenta una metodología para la estimación de los precios diarios a los que ofertan la energía que producen los principales recursos hídricos y térmicos en Colombia. Se emplean dos herramientas de Inteligencia Artificial: la Lógica Difusa y las Redes Neuronales. Dichas técnicas resultan ser parcialmente efectivas para seguir las tendencias de dichos precios. También se comparan los resultados con los de modelos autorregresivos, que resultan ser inapropiados para el caso de estudio. || One of the most important economic strategic sectors in any economy is the electricity market. Its main feature is its oligopolistic character favoured by the returns to scale which act as an entry barrier. As a result, the energy generators can use their power market in order to increase their benefits through the daily offered price and quantity of energy for each of their power plants. This paper presents a methodology for estimating the daily offered price of the most important power stations in Colombia (hydraulic and thermal by applying artificial intelligence techniques: Fuzzy Logic and Neural Networks. Such techniques are found to be partially useful particularly for price tendencies. It also compares the results with autoregressive models that turned out inappropriate for the case of study.

  12. Spot Pricing When Lagrange Multipliers Are Not Unique

    DEFF Research Database (Denmark)

    Feng, Donghan; Xu, Zhao; Zhong, Jin

    2012-01-01

    Classical spot pricing theory is based on multipliers of the primal problem of an optimal market dispatch, i.e., the solution of the dual problem. However, the dual problem of market dispatch may yield multiple solutions. In these circumstances, spot pricing or any standard pricing practice based...... on multipliers cannot generate a unique clearing price. Although such situations are rare, they can cause significant uncertainties and complexities in market dispatch. In practice, this situation is solved through simple empirical methods, which may cause additional operations or biased allocation. Based...... the results of the theoretical analysis, and further demonstrate that the method performs effectively in both uniform-pricing and nodalpricing markets....

  13. A method for short term electricity spot price forecasting

    International Nuclear Information System (INIS)

    Koreneff, G.; Seppaelae, A.; Lehtonen, M.; Kekkonen, V.; Laitinen, E.; Haekli, J.; Antila, E.

    1998-01-01

    In Finland, the electricity market was de-regulated in November 1995. For the electricity purchase of power companies this has caused big changes, since the old tariff based contracts of bulk power supply have been replaced by negotiated bilateral short term contracts and by power purchase from the spot market. In the spot market, in turn, there are at the present two strong actors: The electricity exchange of Finland and the Nordic power pool which is run by the Swedish and Norwegian companies. Today, the power companies in Finland have short term trade with both of the electricity exchanges. The aim of this chapter is to present methods for spot price forecasting in the electricity exchange. The main focus is given to the Finnish circumstances. In the beginning of the presentation, the practices of the electricity exchange of Finland are described, and a brief presentation is given on the different contracts, or electricity products, available in the spot market. For comparison, the practices of the Nordic electricity exchange are also outlined. A time series technique for spot price forecasting is presented. The structure of the model is presented, and its validity is tested using real case data obtained from the Finnish power market. The spot price forecasting model is a part of a computer system for distribution energy management (DEM) in a de-regulated power market

  14. A method for short term electricity spot price forecasting

    Energy Technology Data Exchange (ETDEWEB)

    Koreneff, G.; Seppaelae, A.; Lehtonen, M.; Kekkonen, V. [VTT Energy, Espoo (Finland); Laitinen, E.; Haekli, J. [Vaasa Univ. (Finland); Antila, E. [ABB Transmit Oy (Finland)

    1998-08-01

    In Finland, the electricity market was de-regulated in November 1995. For the electricity purchase of power companies this has caused big changes, since the old tariff based contracts of bulk power supply have been replaced by negotiated bilateral short term contracts and by power purchase from the spot market. In the spot market, in turn, there are at the present two strong actors: The electricity exchange of Finland and the Nordic power pool which is run by the Swedish and Norwegian companies. Today, the power companies in Finland have short term trade with both of the electricity exchanges. The aim of this chapter is to present methods for spot price forecasting in the electricity exchange. The main focus is given to the Finnish circumstances. In the beginning of the presentation, the practices of the electricity exchange of Finland are described, and a brief presentation is given on the different contracts, or electricity products, available in the spot market. For comparison, the practices of the Nordic electricity exchange are also outlined. A time series technique for spot price forecasting is presented. The structure of the model is presented, and its validity is tested using real case data obtained from the Finnish power market. The spot price forecasting model is a part of a computer system for distribution energy management (DEM) in a de-regulated power market

  15. Marketing marketing

    NARCIS (Netherlands)

    dr. Karel Jan van Alsem

    2013-01-01

    In deze installatierede betoogt Karel Jan Alsem dat marketing een grotere strategische rol in organisaties zou moeten krijgen. Want marketing is bij uitstek de verbinding tussen klantwensen en het DNA van een organisatie. Doordat merken gemiddeld voor mensen niet heel belangrijk zijn, is goede

  16. Qualificação formal do trabalhador e automação na Fiat automóveis: um estudo comparativo nas plantas industriais de Cassino (Ita) e Betim (Br)

    OpenAIRE

    Vieira, Adriane; Garcia, Fernando Coutinho

    2008-01-01

    A proposta deste trabalho é analisar a mudança na qualificação formal dos trabalhadores no contexto das inovações tecnológicas. Tomou-se como referência o estudo de duas fábricas da Fiat Automóveis, uma localizada na cidade de Cassino/Itália, a mais automatizada do Grupo Fiat, e outra localizada na cidade de Betim/Brasil, que combina baixa automação com alta flexibilização do trabalho. Trata-se de uma pesquisa de campo, do tipo exploratória. Os dados foram coletados por meio de fontes secu...

  17. Effect of surface coating on ripening and early peel spotting in 'Sucrier' banana (Musa acuminata)

    NARCIS (Netherlands)

    Promyou, S.; Ketsa, S.; Doorn, van W.G.

    2007-01-01

    Sucrier¿ bananas (Musa acuminata, AA Group) show peel spotting when the peel is just about as yellow as green, which coincides with optimum eating quality. As consumers might relate the spotting to overripe fruit, early spotting is considered undesirable, especially for export markets. Fruit were

  18. Mononucleosis spot test

    Science.gov (United States)

    Monospot test; Heterophile antibody test; Heterophile agglutination test; Paul-Bunnell test; Forssman antibody test ... The mononucleosis spot test is done when symptoms of mononucleosis are ... Fatigue Fever Large spleen (possibly) Sore throat Tender ...

  19. Forward reliability markets: Less risk, less market power, more efficiency

    International Nuclear Information System (INIS)

    Cramton, Peter; Stoft, Steven

    2008-01-01

    A forward reliability market is presented. The market coordinates new entry through the forward procurement of reliability options - physical capacity bundled with a financial option to supply energy above a strike price. The market assures adequate generating resources and prices capacity from the bids of competitive new entry in an annual auction. Efficient performance incentives are maintained from a load-following obligation to supply energy above the strike price. The capacity payment fully hedges load from high spot prices, and reduces supplier risk as well. Market power is reduced in the spot market, since suppliers enter the spot market with a nearly balanced position in times of scarcity. Market power in the reliability market is addressed by not allowing existing supply to impact the capacity price. The approach, which has been adopted in New England and Colombia, is readily adapted to either a thermal system or a hydro system. (author)

  20. The world enrichment market

    International Nuclear Information System (INIS)

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

    1991-01-01

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

  1. Market efficiency in the European carbon markets

    International Nuclear Information System (INIS)

    Charles, Amélie; Darné, Olivier; Fouilloux, Jessica

    2013-01-01

    In this paper, we study the relationship between futures and spot prices in the European carbon markets from the cost-of-carry hypothesis. The aim is to investigate the extent of efficiency market. The three main European markets (BlueNext, EEX and ECX) are analyzed during Phase II, covering the period from March 13, 2009 to January, 17, 2012. Futures contracts are found to be cointegrated with spot prices and interest rates for several maturities in the three CO 2 markets. Results are similar when structural breaks are taken into account. According to individual and joint tests, the cost-of-carry model is rejected for all maturities and CO 2 markets, implying that neither contract is priced according to the cost-of-carry model. The absence of the cost-of-carry relationship can be interpreted as an indicator of market inefficiency and may bring arbitrage opportunities in the CO 2 market. - Highlights: • We study the cost-of-carry hypothesis in the European carbon markets during Phase 2. • We apply cointegration tests with and without structural breaks on several maturities. • We find that futures contracts are cointegrated with spot prices and interest rates. • The cost-of-carry model is rejected for all maturities and carbon markets

  2. Market values summary/April market review/current market data

    International Nuclear Information System (INIS)

    Anon.

    1995-01-01

    This article is the April 1995 uranium market summary. Overall market activity during this period was low, with five deals in the concentrates market, two deals in the long-term natural uranium market, and three deals in the spot enrichment market. There were no spot trades in the UF6 or conversion market. The restricted and unrestricted exchange values were $11.60 and $7.35 respectively. The restricted and unrestricted UF6 values were $36.00 and $25.50, and the restricted and unrestricted transaction values were $10.30 and $7.25. Active uranium supply rose, and active demand fell

  3. Testing Co-Volatility Spillovers for Natural Gas Spot, Futures and ETF Spot using Dynamic Conditional Covariances

    NARCIS (Netherlands)

    C-L. Chang (Chia-Lin); M.J. McAleer (Michael); Y. Wang (Yanghuiting)

    2016-01-01

    textabstractThere is substantial empirical evidence that energy and financial markets are closely connected. As one of the most widely-used energy resources worldwide, natural gas has a large daily trading volume. In order to hedge the risk of natural gas spot markets, a large number of hedging

  4. Molybdenum market in transition

    International Nuclear Information System (INIS)

    Sutulov, A.

    1980-01-01

    Since the beginning of 1980 - after seven years of constant unbalance between supply and demand of molybdenum, characterized by a demand overhang and after two years of unprecedented spot market prices - clear signals for a consolidation of the molybdenum market can be recognized. (orig.) [de

  5. Cotton-wool spots.

    Science.gov (United States)

    Brown, G C; Brown, M M; Hiller, T; Fischer, D; Benson, W E; Magargal, L E

    1985-01-01

    A series of 24 consecutive patients presenting with a fundus picture characterized by a predominance of cotton-wool spots, or a single cotton-wool spot, is reported. Excluded were patients with known diabetes mellitus. Etiologic conditions found included previously undiagnosed diabetes mellitus in five patients, systemic hypertension in five patients, cardiac valvular disease in two patients, radiation retinopathy in two patients, and severe carotid artery obstruction in two patients. Dermatomyositis, systemic lupus erythematosus, polyarteritis nodosa, leukemia, AIDS, Purtscher's retinopathy, metastatic carcinoma, intravenous drug abuse, partial central retinal artery obstruction, and giant cell arteritis were each found in one patient. In only one patient did a systemic workup fail to reveal an underlying cause. The presence of even one cotton-wool spot in an otherwise normal fundus necessitates an investigation to ascertain systemic etiologic factors.

  6. A model of the world uranium market

    International Nuclear Information System (INIS)

    Trieu, L.H.; Savage, E.; Dwyer, G.

    1994-01-01

    In this paper the structure of the world uranium market is analysed and an econometric model developed. The modelling effort is focused on the spot market because developments in the spot market are increasingly being reflected in contract agreements and it is more transparent than the contract market. Changing surplus supplies of uranium on the spot market have led to wide variations in the spot price and this relationship is a focus of the analysis. The results indicate that stocks will reduce to a point where a gradual rise in spot prices can be expected after 1993 but the recovery will be sensitive to new supply entering from non-traditional market sources. (Author)

  7. Modelling energy spot prices by Lévy semistationary processes

    DEFF Research Database (Denmark)

    Barndorff-Nielsen, Ole; Benth, Fred Espen; Veraart, Almut

    This paper introduces a new modelling framework for energy spot prices based on Lévy semistationary processes. Lévy semistationary processes are special cases of the general class of ambit processes. We provide a detailed analysis of the probabilistic properties of such models and we show how the...... they are able to capture many of the stylised facts observed in energy markets. Furthermore, we derive forward prices based on our spot price model. As it turns out, many of the classical spot models can be embedded into our novel modelling framework....

  8. Space-time modeling of electricity spot prices

    DEFF Research Database (Denmark)

    Abate, Girum Dagnachew; Haldrup, Niels

    In this paper we derive a space-time model for electricity spot prices. A general spatial Durbin model that incorporates the temporal as well as spatial lags of spot prices is presented. Joint modeling of space-time effects is necessarily important when prices and loads are determined in a network...... of power exchange areas. We use data from the Nord Pool electricity power exchange area bidding markets. Different spatial weight matrices are considered to capture the structure of the spatial dependence process across different bidding markets and statistical tests show significant spatial dependence...

  9. Chocolate spot of Eucalyptus

    OpenAIRE

    Cheewangkoon, R.; Groenewald, J.Z.; Hyde, K.D.; To-anun, C.; Crous, P.W.

    2012-01-01

    Chocolate Spot leaf disease of Eucalyptus is associated with several Heteroconium-like species of hyphomycetes that resemble Heteroconium s.str. in morphology. They differ, however, in their ecology, with the former being plant pathogenic, while Heteroconium s.str. is a genus of sooty moulds. Results of molecular analyses, inferred from DNA sequences of the large subunit (LSU) and internal transcribed spacers (ITS) region of nrDNA, delineated four Heteroconium-like species on Eucalyptus, name...

  10. El spot electoral negativo

    Directory of Open Access Journals (Sweden)

    Palma Peña-Jiménez

    2011-01-01

    Full Text Available l spot político tiene durante la campaña un objetivo final inequívoco: la consecución del voto favorable. Se dirige al cuerpo electoral a través de la televisión y de Internet, y presenta, en muchos casos, un planteamiento negativo, albergando mensajes destinados a la crítica frontal contra el adversario, más que a la exposición de propuestas propias. Este artículo se centra en el análisis del spot electoral negativo, en aquellas producciones audiovisuales construidas sin más causa que la reprobación del contrincante. Se trata de vídeos que, lejos de emplearse en difundir las potencialidades de la organización y las virtudes de su candidato –además de su programa electoral–, consumen su tiempo en descalificar al oponente mediante la transmisión de mensajes, muchas veces, ad hominem. Repasamos el planteamiento negativo del spot electoral desde su primera manifestación, que en España data de 1996, año de emisión del conocido como vídeo del dóberman, sin olvidar otros ejemplos que completan el objeto de estudio.

  11. Wholesale electricity markets in Europe

    International Nuclear Information System (INIS)

    Rios, J. L.

    2010-01-01

    Electricity Wholesale Markets provide efficient operation of power stations, facilitate hedging instruments for generators and retailers and deliver price signals for new investments. Despite having a common regulatory framework at European level whose last aim is a single electricity market, Wholesale markets have been unevenly developed in each Member State. The evolution form a spot-based market towards a forward-based market needs a certain level of liquidity, transparency and regulatory stability. Interconnections are the key element to promote the integration of electricity markets. To facilitate this, European Regional Initiatives have pushed regulatory harmonization between countries and market coupling projects. (Author)

  12. The Spotting Distribution of Wildfires

    Directory of Open Access Journals (Sweden)

    Jonathan Martin

    2016-06-01

    Full Text Available In wildfire science, spotting refers to non-local creation of new fires, due to downwind ignition of brands launched from a primary fire. Spotting is often mentioned as being one of the most difficult problems for wildfire management, because of its unpredictable nature. Since spotting is a stochastic process, it makes sense to talk about a probability distribution for spotting, which we call the spotting distribution. Given a location ahead of the fire front, we would like to know how likely is it to observe a spot fire at that location in the next few minutes. The aim of this paper is to introduce a detailed procedure to find the spotting distribution. Most prior modelling has focused on the maximum spotting distance, or on physical subprocesses. We will use mathematical modelling, which is based on detailed physical processes, to derive a spotting distribution. We discuss the use and measurement of this spotting distribution in fire spread, fire management and fire breaching. The appendix of this paper contains a comprehensive review of the relevant underlying physical sub-processes of fire plumes, launching fire brands, wind transport, falling and terminal velocity, combustion during transport, and ignition upon landing.

  13. Market review: Market values summary July market review/current market data

    International Nuclear Information System (INIS)

    Anon.

    1996-01-01

    A summary of financial data for the uranium spot market is provided. Recent transactions are tabulated, including uranium sales, natural uranium loans, conversion sales, and enrichment sales. A market values summary and long-term price indicators are also provided. The July 1996 market review data includes summaries of near-term uranium sales, near-term supply/demand, NUEXCO values, USEC prices, and calculated worth of enriched uranium. Active projects in uranium, conversion, and separative work supply and demand are listed. International market values are tabulated for 22 selected currencies

  14. Judicial fiats and contemporary enclosures

    Directory of Open Access Journals (Sweden)

    Thayyil Naveen

    2009-01-01

    Full Text Available This article examines the problematic processes in a case that has had few parallels in Indian judicial history. The apex court in T. N. Godavarman took upon the responsibility of deciding how forest resources in the country should be accessed and who is (or is not to have such access. Purportedly done to protect the environment, through the ′clarification and fine-tuning′ of national forest-laws, the case has seriously affected the life, livelihood, and habitat of millions of marginal groups. Recent trends demonstrate the wider trend of constitutional courts assuming the roles of adjudication, administration and legislation, all rolled into one, whereby they become problematic sites for creating a hierarchy of conflicting public interests, which claim constitutional validity from different vantage points. Thus, constitutional values of ′protection of environment′ and ′justice - social, political and economic′ ′are pitted against each other′ where unelected courts take it upon themselves to define the legitimate precincts of the theoretical discourse of sustainable use / development; and importantly also implement it into ′everyday′ ′reality, in the way it feels fit′. The article seeks to make sense of this contemporary process of forest governance.

  15. Failing electricity markets: should we shoot the pools?

    International Nuclear Information System (INIS)

    Green, Richard

    2003-01-01

    This paper discusses the electricity reforms in California and in England and Wales. In both cases, a centralised spot market played a major role, and both markets have now been abolished. This paper argues that their disappearance is not evidence that future electricity restructuring should avoid the use of spot markets. Instead, the problems in England and Wales were largely due to market power. In California, problems arising from market power and a tightening demand-supply balance were turned into a disaster because the spot market had not been backed up by hedging contracts. (Author)

  16. Market review: Market values summary/May market review/current market data

    International Nuclear Information System (INIS)

    Anon.

    1996-01-01

    This article is the May 1996 Uranium transactions summary. Data on Uranium supply and demand is included, as is data on conversion services and separative work units supply and demand. The spot market was active during this period, with 3.6 million pounds U3O8 changing hands in nine transactions. This brought a strengthing of prices. There were also five deals in the long-term market and three deals for natural UF6

  17. Demand response in energy markets

    International Nuclear Information System (INIS)

    Skytte, K.; Birk Mortensen, J.

    2004-11-01

    Improving the ability of energy demand to respond to wholesale prices during critical periods of the spot market can reduce the total costs of reliably meeting demand, and the level and volatility of the prices. This fact has lead to a growing interest in the short-run demand response. There has especially been a growing interest in the electricity market where peak-load periods with high spot prices and occasional local blackouts have recently been seen. Market concentration at the supply side can result in even higher peak-load prices. Demand response by shifting demand from peak to base-load periods can counteract the market power in the peak-load. However, demand response has so far been modest since the current short-term price elasticity seems to be small. This is also the case for related markets, for example, green certificates where the demand is determined as a percentage of the power demand, or for heat and natural gas markets. This raises a number of interesting research issues: 1) Demand response in different energy markets, 2) Estimation of price elasticity and flexibility, 3) Stimulation of demand response, 4) Regulation, policy and modelling aspects, 5) Demand response and market power at the supply side, 6) Energy security of supply, 7) Demand response in forward, spot, ancillary service, balance and capacity markets, 8) Demand response in deviated markets, e.g., emission, futures, and green certificate markets, 9) Value of increased demand response, 10) Flexible households. (BA)

  18. Advances in spot curing technology

    International Nuclear Information System (INIS)

    Burga, R.

    1999-01-01

    A brief review of spot curing technology was presented. The process which a spot of energy of a specific wavelength bandwidth and irradiance is used to cause a coating, encapsulant or adhesive to change from a liquid to a solid state

  19. Chromium(VI) release from leather and metals can be detected with a diphenylcarbazide spot test

    DEFF Research Database (Denmark)

    Bregnbak, David; Johansen, Jeanne D.; Jellesen, Morten Stendahl

    2015-01-01

    Along with chromium, nickel and cobalt are the clinically most important metal allergens. However, unlike for nickel and cobalt, there is no validated colorimetric spot test that detects chromium. Such a test could help both clinicians and their patients with chromium dermatitis to identify culprit...... exposures. To evaluate the use of diphenylcarbazide (DPC) as a spot test reagent for the identification of chromium(VI) release. A colorimetric chromium(VI) spot test based on DPC was prepared and used on different items from small market surveys. The DPC spot test was able to identify chromium(VI) release...

  20. Volatility Spillover in Chinese Steel Markets

    Science.gov (United States)

    Fang, Wen

    2018-03-01

    This paper examines volatility spillover in Chinese steel markets by comparing spillover effects before and after steel futures market established and finds some interesting change. Volatility spillover method based on multi-GARCH model are proposed. The results show that there is significant proof for spillover effects from B2B electronic market to spot market, and two-way effects between futures and spot market. Market policy planners and practitioners could make decisions according to the master of spillovers. We also find that B2B e-market and futures market can both provide efficient protection against steel price volatility risk, B2B e-market offer a broad-based platform for trading steel commodities over time and space since e-market role in information flow process is dominant.

  1. Natural gas's hottest spot

    International Nuclear Information System (INIS)

    Peterson, T.

    1993-01-01

    This paper reviews the growing power and economic strength of Enron Corp., a natural gas distributor and exploration company. The paper reviews the policy of the company to exploit deregulation at home and privatization of all sorts of energy companies abroad. Enron is actively building its own power plants in the US and has successfully boosted their profits by 20 percent in what was considered a flat natural gas market. The paper goes on to discuss the company's view of the new energy tax and how it should benefit natural gas companies as a whole. Finally the paper reviews the contracting procedures of the company to secure long-term fixed price contracts in a volatile market which precludes most companies from taking the risk

  2. Portfolio optimization in electricity markets

    International Nuclear Information System (INIS)

    Liu, Min; Wu, Felix F.

    2007-01-01

    In a competitive electricity market, Generation companies (Gencos) face price risk and delivery risk that affect their profitability. Risk management is an important and essential part in the Genco's decision making. In this paper, risk management through diversification is considered. The problem of energy allocation between spot markets and bilateral contracts is formulated as a general portfolio optimization problem with a risk-free asset and n risky assets. Historical data of the PJM electricity market are used to demonstrate the approach. (author)

  3. Spot Welding of Honeycomb Structures

    Science.gov (United States)

    Cohal, V.

    2017-08-01

    Honeycomb structures are used to prepare meals water jet cutting machines for textile. These honeycomb structures are made of stainless steel sheet thickness of 0.1-0.2 mm. Corrugated sheet metal strips are between two gears with special tooth profile. Hexagonal cells for obtaining these strips are welded points between them. Spot welding device is three electrodes in the upper part, which carries three welding points across the width of the strip of corrugated sheet metal. Spot welding device filled with press and advance mechanisms. The paper presents the values of the regime for spot welding.

  4. Belpex and trilateral market coupling

    International Nuclear Information System (INIS)

    2006-01-01

    This document describes the operation of Belpex, the Belgian power transmission spot market, and its linking with the French (Powernext) and Dutch (APX) auction-style day-ahead spot markets. A last part deals with the extension of this trilateral market to other European countries. Content: Belpex day-ahead market (DAM) (Goals of the DAM: Provide consumers with a wider choice of electrical energy sources, Enable the ARP's to optimize their portfolio in terms of imbalance costs, Reduce trade and credit risks for market players compared with the risks involved in concluding bilateral contracts, Provide economic players with a transparent price benchmark, Stimulate the opening of the electricity market); Market model Product (description, Contracts, Collateral calculation, From 12 January to launch date Corporate and Legal Aspects, Next developments); Trilateral Market Coupling (What is market coupling and what are the benefits?, Implementation of trilateral market coupling ('TLC') in France/Belgium/Netherlands, From Trilateral to Multilateral, Implementation of Trilateral Market Coupling (TLC) in France/Belgium/Netherlands, Decentralized market coupling mechanism, influence of import and export on area prices); Decentralized market coupling (2 countries Situations: unconstrained/constrained, Decentralized market coupling: 3 countries, High Level Properties of Market Coupling, Maximize flow until prices across link converge (or ATC limit reached), Power flows from low price area to high price area, Implementing a decentralized technical approach, Market Coupling Daily Process, Impact on Existing Exchange Arrangements, Implementing a decentralized contractual approach, TLC Project Process); From Trilateral to Multilateral (Geographic extensions, Towards an Open and Multilateral Market Coupling, Management of Interconnection Capacities, Interconnection Capacities: current situation, TSO Roles and Responsibilities in the TLC, Other Import/Export products on the

  5. Data driven marketing for dummies

    CERN Document Server

    Semmelroth, David

    2013-01-01

    Embrace data and use it to sell and market your products Data is everywhere and it keeps growing and accumulating. Companies need to embrace big data and make it work harder to help them sell and market their products. Successful data analysis can help marketing professionals spot sales trends, develop smarter marketing campaigns, and accurately predict customer loyalty. Data Driven Marketing For Dummies helps companies use all the data at their disposal to make current customers more satisfied, reach new customers, and sell to their most important customer segments more efficiently. Identifyi

  6. Is there a Sweet Spot in Ethical Trade?

    DEFF Research Database (Denmark)

    Lund-Thomsen, Peter; Lindgreen, Adam

    2018-01-01

    might emerge, reflecting an amended version of Gereffi et al.'s (2005) theory of value chain governance. We conclude that the possibility of identifying a sweet spot in ethical trade improves as we move from market-based transactions toward hierarchical governance in global production networks.......We undertake a critical appraisal of the existence of the so- called 'sweet spot' in ethical trade at which the interests of buyers, suppliers, and workers intersect to enable benefits for commercial buyers and suppliers and improvements in the conditions of workers at the base of global production...... networks. In turn, we take the perspectives of three central actors typically involved in ethical trade: buyers/brands, suppliers in the Global South, and workers at the base of these networks. By applying all three perspectives, we theorize about the circumstances in which the sweet spot in ethical trade...

  7. Market integration of Virtual Power Plants

    DEFF Research Database (Denmark)

    Petersen, Mette Kirschmeyer; Hansen, Lars Henrik; Bendtsen, Jan Dimon

    2013-01-01

    We consider a direct control Virtual Power Plant, which is given the task of maximizing the profit of a portfolio of flexible consumers by trading flexibility in Energy Markets. Spot price optimization has been quite intensively researched in Smart Grid literature lately. In this work, however, we...... develop a three stage market model, which includes Day-Ahead (Spot), Intra-Day and Regulating Power Markets. This allows us to test the hypothesis that the Virtual Power Plant can generate additional profit by trading across several markets. We find that even though profits do increase as more markets...... are penetrated, the size of the profit is strongly dependent on the type of flexibility considered. We also find that penetrating several markets makes profits surprisingly robust to spot price prediction errors....

  8. Information transmission and market interactions across the Atlantic. An empirical study on the natural gas market

    International Nuclear Information System (INIS)

    Kao, Chung-Wei; Wan, Jer-Yuh

    2009-01-01

    This paper studies the international information transmission and market interactions in the U.S. and U.K. natural gas markets. Three well documented approaches are used to measure the relative importance on the process of price discovery under a quadvariate system. After adjusting the effects of nonsynchronous trading prices, robust results indicate our system that includes spot and futures prices within the two countries are driven by one common factor. Information disseminates efficiently among the four markets concerned. The U.S. futures market dominates as the center for price discovery. The U.K. futures market comes as the second. The spot markets in the U.S. and U.K. are less efficient than their corresponding futures market, where the U.K. spot market contributes the least and almost zero to the price discovery process. Asymmetric volatility spillovers are found in three of the four markets. Volatility in the U.S. futures market increases with positive returns which illustrates the inverse leverage effect in most of the commodity market. Volatilities in the spot markets are negatively related to returns, which is analogous to the traditional leverage effect prevailing in most of the equity stock markets. (author)

  9. Market Review: Market values summary; March market review; Current market data

    International Nuclear Information System (INIS)

    Anon.

    1996-01-01

    This article is the March 1996 uranium market summary. In this reporting period, there were two deals in the natural uranium spot market and four deals in the long-term market. The unrestricted value moved upward to $13.50 per pound U3O8, and the long-term price indicator was $16.50. In the UF6 market, there was but a single deal. Both the restricted and the unrestricted values moved upward, to $47.00 and $41.25 respectively. The restricted and the unrestricted transaction values moved upward, to $13.35 and $8.40 respectively. In the enrichment services market, there were no transactions. Both the restricted and the unrestricted SWU values remained constant at $97 and $90 respectively. Active uranium supply rose, while active demand decreased sharply

  10. 9 CFR 149.4 - Spot audit.

    Science.gov (United States)

    2010-01-01

    ... 9 Animals and Animal Products 1 2010-01-01 2010-01-01 false Spot audit. 149.4 Section 149.4... LIVESTOCK IMPROVEMENT VOLUNTARY TRICHINAE CERTIFICATION PROGRAM § 149.4 Spot audit. (a) In addition to regularly scheduled site audits, certified production sites will be subject to spot audits. (1) Random spot...

  11. On the origin of delta spots

    International Nuclear Information System (INIS)

    Tang, F.

    1983-01-01

    Mount Wilson sunspot drawings from 1966 through 1980 were used in conjunction with Hα filtergrams from Big Bear Solar Observatory to examine the origin of delta spots, spots with bipolar umbrae within one penumbra. Of the six cases we studied, five were formed by the union of non-paired spots. They are either shoved into one another by two neighboring growing bipoles or by a new spot born piggy-back style on an existing spot of opposite polarity. Proper motions of the growing spots take on curvilinear paths around one another to avoid a collision. This is the shear motion observed in delta spots (Tanaka, 1979). In the remaining case, the delta spot was formed by spots that emerged as a pair. Our findings indicate no intrinsic differences in the formation or the behavior between delta spots of normal magnetic configuration. (orig.)

  12. TRADING FORWARD IN THE BRAZILIAN ELECTRICITY MARKET

    Directory of Open Access Journals (Sweden)

    Paulo Cesar Coutinho

    2013-01-01

    Full Text Available We study the interaction between forward and spot electricity markets in a scenario where buyers and sellers are price takers in the forward market and trade through marketers, who play a Cournot game. Our model’s main features come from the Brazilian electricity market, where a free contract market coexists with a regulated contract market, and the spot price is the output of a stochastic dynamic algorithm. We are able to show that the price of energy bought (sold forward decreases (increases with the number of marketers, and that, as a result, full hedging is achieved in the limit. We also investigate the effects on prices of changes in the number of market participants and in aggregate consumption and supply, an exercise that yields important policy recommendations for the Brazilian regulator.

  13. A Future Market Reduces Bubbles but Allows Greater Profit for More Sophisticated Traders

    NARCIS (Netherlands)

    Noussair, C.N.; Tucker, S.; Xu, Yilong

    2014-01-01

    We study the effect of the addition of a futures market, in which contracts maturing in the last period of the life of the asset can be traded. Our experiment has two treatments, one in which a spot market operates on its own, and a second treatment in which a spot and futures market are active

  14. E-Marketing Jaya Abadi Computer (JAC

    Directory of Open Access Journals (Sweden)

    Honni Honni

    2011-12-01

    Full Text Available Internet has been widely used by manufacturers and distributors to expand product markets for its advantageous in quick process, practicality and low cost. Jaya Abadi Computer (JAC as a sales distributor and service agent of computer equipment still perform its direct marketing manually on the spot, so that the marketing only reaches a small scope. This article analyzes the market opportunity of JAC; determines the marketing strategy and builds e-marketing website for JAC based on customer experience using The Seven Stage Cycle of Internet Marketing. The results obtained are an e-marketing website to support the marketing activities of JAC. Eventually it can be concluded that by building an e-marketing, JAC can reach as well as expand market opportunities in virtual world, use the right marketing strategy, and meet customer needs through features on the website. 

  15. An efficient method of spot welding Aluminium alloys with induction preheating

    Directory of Open Access Journals (Sweden)

    Jawad Saleem

    2016-12-01

    Full Text Available Steel has been the material of choice for automobile manufacturers. In the recent years material such as aluminium and its alloys are taking over the market because of their light weight. The use of aluminium, in automobile manufacturing can result in overall fuel efficiency. Spot welding aluminium alloys require higher electric power and less welding time as compared to steel. Welding guns that can produce an electric current which is approximately 2 to 3 times higher, as compared to steel are required for spot welding aluminium. An efficient method of spot welding Aluminium alloys with the preheating process has been proposed in this paper. Preheating Aluminium sheet before spot welding reduces the thermal and electrical resistance which brings down the electric current requirement to spot weld Aluminium structures. Both spot welding and induction preheating process have been modelled in this paper. The test results of the preheating process have also been verified with practical heating trials. The preheating is performed on-the-fly in advance to spot welding process. The results show that spot welding Al 6082 after preheating up to 200 oC, the output current requirements to make the spot weld are reduced by 22%.

  16. Oil prices, speculation, and fundamentals. Interpreting causal relations among spot and futures prices

    International Nuclear Information System (INIS)

    Kaufmann, Robert K.; Ullman, Ben

    2009-01-01

    A consensus that the world oil market is unified begs the question, where do innovations in oil prices enter the market? Here we investigate where changes in the price of crude oil originate and how they spread by examining causal relationships among prices for crude oils from North America, Europe, Africa, and the Middle East on both spot and futures markets. Results indicate that innovations first appear in spot prices for Dubai-Fateh and spread to other spot and futures prices while other innovations first appear in the far month contract for West Texas Intermediate and spread to other exchanges and contracts. Links between spot and futures markets are relatively weak and this may have allowed the long-run relationship between spot and future prices to change after September 2004. Together, these results suggest that market fundamentals initiated a long-term increase in oil prices that was exacerbated by speculators, who recognized an increase in the probability that oil prices would rise over time. (author)

  17. Laser based spot weld characterization

    Science.gov (United States)

    Jonietz, Florian; Myrach, Philipp; Rethmeier, Michael; Suwala, Hubert; Ziegler, Mathias

    2016-02-01

    Spot welding is one of the most important joining technologies, especially in the automotive industry. Hitherto, the quality of spot welded joints is tested mainly by random destructive tests. A nondestructive testing technique offers the benefit of cost reduction of the testing procedure and optimization of the fabrication process, because every joint could be examined. This would lead to a reduced number of spot welded joints, as redundancies could be avoided. In the procedure described here, the spot welded joint between two zinc-coated steel sheets (HX340LAD+Z100MB or HC340LA+ZE 50/50) is heated optically on one side. Laser radiation and flash light are used as heat sources. The melted zone, the so called "weld nugget" provides the mechanical stability of the connection, but also constitutes a thermal bridge between the sheets. Due to the better thermal contact, the spot welded joint reveals a thermal behavior different from the surrounding material, where the heat transfer between the two sheets is much lower. The difference in the transient thermal behavior is measured with time resolved thermography. Hence, the size of the thermal contact between the two sheets is determined, which is directly correlated to the size of the weld nugget, indicating the quality of the spot weld. The method performs well in transmission with laser radiation and flash light. With laser radiation, it works even in reflection geometry, thus offering the possibility of testing with just one-sided accessibility. By using heating with collimated laser radiation, not only contact-free, but also remote testing is feasible. A further convenience compared to similar thermographic approaches is the applicability on bare steel sheets without any optical coating for emissivity correction. For this purpose, a proper way of emissivity correction was established.

  18. Integration project of regional markets in Europe (European directive)

    International Nuclear Information System (INIS)

    Gonzalez Fernandez-Castaneda, J. J.

    2010-01-01

    The article presents the current situation of the Day-Ahead electricity markets in the different countries and Regions along West Europe. It describes the different possibilities applied to congestion management in the borders between countries and price areas, and the options employed to couple Day-ahead markets to form regional markets in Europe. Finally, it presents the initiative to Price couple Regional markets (PCR) that is being developed by Nord pool spot, EPEX Spot and OMEL with the objective to advance towards the integration of the markets that they operate in the internal Electricity Market. (Author)

  19. Is this Red Spot the Blue Spot (locus ceruleum)?

    Energy Technology Data Exchange (ETDEWEB)

    Choe, Won Sick; Lee, Yu Kyung; Lee, Min Kyung; Hwang, Kyung Hoon [Gachon University Gil Hospital, Incheon (Korea, Republic of)

    2010-06-15

    The authors report brain images of 18F-FDG-PET in a case of schizophrenia. The images showed strikingly increased bilateral uptake in the locus ceruleum. The locus ceruleum is called the blue spot and known to be a center of the norepinephrinergic system.

  20. The lead-lag relationships between spot and futures prices of natural gas

    Science.gov (United States)

    Zhang, Yahui; Liu, Li

    2018-01-01

    The lead-lag relationships between spot and futures markets are of great interest for academics. Previous studies neglect the possibility of nonlinear behaviors which may be caused by asymmetry or persistence. To fill this gap, this paper uses the MF-DCCA method and the linear and nonlinear causality tests to explore the causal relationships between natural gas spot and futures prices in the New York Mercantile Exchange. We find that spot and futures prices are positive cross-correlated, the natural gas futures can linearly Granger cause spot price, and there are bidirectional nonlinear causality relationships between natural gas spot and futures prices. Further, we explore the sources of nonlinear causality relationships, and find that the volatility spillover can partly explain the nonlinear causality and affect their cross-correlations.

  1. March market review

    International Nuclear Information System (INIS)

    Anon.

    1993-01-01

    The spot market price for uranium in unrestricted markets weakened further during March, and at month end, the NUEXCO Exchange Value had fallen $0.15, to $7.45 per pound U3O8. The Restricted American Market Penalty (RAMP) for concentrates increased $0.15, to $2.55 per pound U3O8. Ample UF6 supplies and limited demand led to a $0.50 decrease in the UF6 Value, to $25.00 per kgU as UF6, while the RAMP for UF6 increased $0.75, to $5.25 per kgU. Nine near-term uranium transactions were reported, totalling almost 3.3 million pounds equivalent U3O8. This is the largest monthly spot market volume since October 1992, and is double the volume reported in January and February. The March 31 Conversion Value was $4.25 per kgU as UF6. Beginning with the March 31 Value, NUEXCO now reports its Conversion Value in US dollars per kilogram of uranium (US$/kgU), reflecting current industry practice. The March loan market was inactive with no transactions reported. The Loan Rate remained unchanged at 3.0 percent per annum. Low demand and increased competition among sellers led to a one-dollar decrease in the SWU Value, to $65 per SWU, and the RAMP for SWU declined one dollar, to $9 per SWU

  2. The uranium market prospects

    International Nuclear Information System (INIS)

    Lloyd, R.

    1981-01-01

    A historical analysis of the uranium market points out the cyclical nature of the market and suggests that the spot price, exploration levels, and mill capacity utilization rate are dependent on economic factors. An examination of the current uranium market suggests that the effects of the forecasted surplus supply, the diminishing returns in exploration and the long lead times and high costs of development may mean that future production levels are uncertain. The general prospects for the uranium industry are also uncertain because of barriers to trade, environmental regulations and public opinion. The paper concludes that by the use of long term contracts, appropriate inventory policy and greater discussion between producers and consumers the prospects for the uranium market can be made more certain and further imbalances in demand and supply can be avoided. (author)

  3. The Victorian gas market: debunking the myths

    International Nuclear Information System (INIS)

    Grimwade, T

    2001-01-01

    The Victorian wholesale gas spot market has operated effectively and trouble-free for over two years. VENCorp's Executive Manager of Energy Markets, reflects on the market experiences to date, and argues that Victoria's physical pipeline system characteristics require its market to be 'different' from those in the other States in Australia. The Victorian gas transmission system in not predominantly comprised of a single point-to-point pipeline; it is rather a 'meshed' network, with multiple point of supply. Gas flow on substantial sections of the transmission pipeline can be bi-directional, depending on market and demand conditions. Consequently, Victoria's wholesale spot market has been designed to address operational and market issues due to the physical characteristics of the Victorian gas pipeline system

  4. Market Power in Power Markets: Evidence from Forward Prices of Electricity

    DEFF Research Database (Denmark)

    Christensen, Bent Jesper; Jensen, Thomas Elgaard; Mølgaard, Rune

    We examine the forward market for electricity for indications of misuse of market power, using a unique data set on OTC price indications posted by Elsam A/S, the dominant producer in Western Denmark, which is one of the price areas under the Nordic power exchange Nord Pool. The Danish Competition...... Council (the regulatory government agency) has ruled that Elsam has used its dominant position to obtain excessive spot prices over a period from July 2003 through December 2006. We show that significant forward premia exist, and that they are related both to spot market volatility and misuse of market...... are consistent across forward premium regressions and structural forward pricing models....

  5. Market based solutions for power pricing

    International Nuclear Information System (INIS)

    Wangensteen, Ivar

    2002-06-01

    The report examines how the price for effect reserves, spot market power and regulated power is formed provided ideal market conditions rule. Primarily the price determining factors in a market for power reserves are examined and how the connection between this market and the energy market (the spot market) is. In a free market there would be a balance between what the actors may obtain by operating in the open market for power reserves/regulated power on the one hand and the market for spot power on the other. Primarily we suppose that the desired amount of power reserve is known. Secondly the problem constellation is extended to comprise the size of the effect reserves i.e. the optimising of the requirement to the power reserves. The optimal amount of power reserves is obtained when there is a balance between the cost and the benefit. This optimal balance is achieved when expected macro economical loss due to outfacing balances against the cost of maintaining larger reserves. By using a simple model it is demonstrated that a system operator regulates the maximal price in the regulated market and this equals the rationing price. The actors will offer sufficient reserves even if the reserve price is zero (provided risk neutrality). If the maximal price for regulated power is lower the price of effect reserves will rise. Based on the same simple model calculations are made for how short and long term market balance will be for increasing demands

  6. Risk premia in energy markets

    DEFF Research Database (Denmark)

    Veraart, Almut E.D.; Veraart, Luitgard A.M.

    -arbitrage arguments as long as the underlying commodities are storable, the situation changes in the case of electricity. Hence, in an empirical study based on electricity spot prices and futures from the European Energy Exchange market, we investigate the empirical behaviour of electricity risk premia from...... forward prices can be formulated and we obtain promising empirical results....

  7. Germany's nuclear power plant closures and the integration of electricity markets in Europe

    International Nuclear Information System (INIS)

    Menezes, Lilian M. de; Houllier, Melanie A.

    2015-01-01

    This paper examines the potential implications of national policies that lead to a sudden increase of wind power in the electricity mix for interconnected European electricity markets. More specifically, it examines market integration before and after the closures of eight nuclear power plants that occurred within a period of a few months in Germany during 2011. The short- and- long run interrelationships of daily electricity spot prices, from November 2009 to October 2012, in: APX-ENDEX, BELPEX, EPEX-DE, EPEX-FR, NORDPOOL, OMEL and SWISSIX; and wind power in the German system are analysed. Two MGARCH (Multivariate Generalized Autoregressive Conditional Heteroscedasticity) models with dynamic correlations are used to assess spot market behaviour in the short run, and a fractional cointegration analysis is conducted to investigate changes in the long-run behaviour of electricity spot prices. Results show: positive time-varying correlations between spot prices in markets with substantial shared interconnector capacity; a negative association between wind power penetration in Germany and electricity spot prices in the German and neighbouring markets; and, for most markets, a decreasing speed in mean reversion. -- Highlights: •Associations between spot prices and wind power are time-varying. •Greater spot price and volatility associations across markets are observed. •In the long run, the German market is less integrated with neighbouring markets. •Policies on a local electricity mix can affect spot prices in connected markets

  8. Dressing percentage in Romanian spotted breed

    Directory of Open Access Journals (Sweden)

    eleonora nistor

    2013-05-01

    Full Text Available The purpose of this research was to determine whether there are significant differences in terms of carcass weight, forequarters, hindquarters and the dressing percentage among Romanian Spotted breed steers and first generation crossbreed obtained between Romanian Spotted and Holstein at slaughter age of 12 and 17 months respectively. Study was done on Romanian Spotted breed steer aged 12 months (36 heads and 17 months (19 heads; Romanian Spotted x Holstein first generation crossbreed of aged 12 months (29 heads and 17 months (20 heads. The Romanian Spotted breed steer, show superiority in terms of carcass weight compared to crossbreed of Romanian Spotted x Holstein, therefore this breed has a better suitability for fattening for meat. Regarding dressing percentage is higher in crossbreed of Romanian Spotted x Holstein compared with Romanian Spotted breed steers, but the difference is insignificant.

  9. Dominant white spotting in the Chinese hamster.

    Science.gov (United States)

    Henwood, C; Henwood, J; Robinson, R

    1987-01-01

    An autosomal dominant white spotting mutant is described for the Chinese hamster. The mutant gene is designated as dominant spot (symbol Ds). The homozygote DsDs is a prenatal lethal while the heterozygote Ds + displays white spotting. The expression of white is variable, ranging from a white forehead spot to extensive white on the body. The venter is invariably white. Growth appears to be normal and the fertility of both sizes shows no impairment.

  10. Laser Pyrometer For Spot Temperature Measurements

    Science.gov (United States)

    Elleman, D. D.; Allen, J. L.; Lee, M. C.

    1988-01-01

    Laser pyrometer makes temperature map by scanning measuring spot across target. Scanning laser pyrometer passively measures radiation emitted by scanned spot on target and calibrated by similar passive measurement on blackbody of known temperature. Laser beam turned on for active measurements of reflectances of target spot and reflectance standard. From measurements, temperature of target spot inferred. Pyrometer useful for non-contact measurement of temperature distributions in processing of materials.

  11. Economic Dispatch of Hydrogen Systems in Energy Spot Markets

    DEFF Research Database (Denmark)

    You, Shi; Nørgård, Per Bromand

    2015-01-01

    Hydrogen system, as a new energy carrier, could deliver clean and efficient energy services in a wide range of applications. This paper presents an economic dispatch-based mathematical model that facilitates investigations on the techno-economic feasibility of hydrogen systems in the context...

  12. A Drosophila wing spot test

    International Nuclear Information System (INIS)

    Ayaki, Toshikazu; Yoshikawa, Isao; Niikawa, Norio; Hoshi, Masaharu.

    1986-01-01

    A Drosophila wing spot test system was used to investigate the effects of low doses of X-rays, gamma rays, and both 2.3 and 14.1 MeV neutrons on somatic chromosome mutation (SCM) induction. The incidence of SCM was significantly increased with any type of radiation, with evident linear dose-response relationship within the range of 3 to 20 cGy. It was estimated that relative biological effectiveness value for SCM induction of 2.3 MeV neutrons to X-rays and gamma rays is much higher than that of 14.1 MeV neutrons to those photons (2.4 vs 8.0). The Drosophila wing spot test system seems to become a promising in vivo experimental method for higher animals in terms of the lack of necessity for a marvelously large number of materials required in conventional test system. (Namekawa, K.)

  13. Analysis and modelling of the fuels european market

    International Nuclear Information System (INIS)

    Simon, V.

    1999-04-01

    The research focus on the European fuel market prices referring to the Rotterdam and Genoa spot markets as well the German, Italian and French domestic markets. The thesis try to explain the impact of the London IPE future market on spot prices too. The mainstream research has demonstrated that co-integration seems to be the best theoretical approach to investigate the long run equilibrium relations. A particular attention will be devoted to the structural change in the econometric modelling on these equilibriums. A deep analysis of the main European petroleum products markets permit a better model specification concerning each of these markets. Further, we will test if any evidence of relations between spot and domestic prices could be confirmed. Finally, alternative scenarios will be depicted to forecast prices in the petroleum products markets. The objective is to observe the model reaction to changes crude oil prices. (author)

  14. Sweet Spots and Door Stops

    Science.gov (United States)

    Thompson, Michael; Tsui, Stella; Leung, Chi Fan

    2011-01-01

    A sweet spot is referred to in sport as the perfect place to strike a ball with a racquet or bat. It is the point of contact between bat and ball where maximum results can be produced with minimal effort from the hand of the player. Similar physics can be applied to the less inspiring examples of door stops; the perfect position of a door stop is…

  15. Demand response in Indian electricity market

    International Nuclear Information System (INIS)

    Siddiqui, Md Zakaria; Maere d'Aertrycke, Gauthier de; Smeers, Yves

    2012-01-01

    This paper outlines a methodology for implementing cost of service regulation in retail market for electricity in India when wholesale market is liberalised and operates through an hourly spot market. As in a developing country context political considerations make tariff levels more important than supply security, satisfying the earmarked level of demand takes a back seat. Retail market regulators are often forced by politicians to keep the retail tariff at suboptimal level. This imposes budget constraint on distribution companies to procure electricity that it requires to meet the earmarked level of demand. This is the way demand response is introduced in the system and has its impact on spot market prices. We model such a situation of not being able to serve the earmarked demand as disutility to the regulator which has to be minimised and we compute associated equilibrium. This results in systematic mechanism for cutting loads. We find that even a small cut in ability of the distribution companies to procure electricity from the spot market has profound impact on the prices in the spot market. - Highlights: ► Modelling the impact of retail tariff in different states on spot prices of electricity in India. ► Retail tariffs are usually fixed below appropriate levels by states due to political reasons. ► Due to revenue constraint distribution utility withdraws demand from spot market in peak hours. ► This adversely affects the scarcity rent of generators and subsequently future investment. ► We show possibility of strategic behaviour among state level regulators in setting retail tariff.

  16. Justifications shape ethical blind spots.

    Science.gov (United States)

    Pittarello, Andrea; Leib, Margarita; Gordon-Hecker, Tom; Shalvi, Shaul

    2015-06-01

    To some extent, unethical behavior results from people's limited attention to ethical considerations, which results in an ethical blind spot. Here, we focus on the role of ambiguity in shaping people's ethical blind spots, which in turn lead to their ethical failures. We suggest that in ambiguous settings, individuals' attention shifts toward tempting information, which determines the magnitude of their lies. Employing a novel ambiguous-dice paradigm, we asked participants to report the outcome of the die roll appearing closest to the location of a previously presented fixation cross on a computer screen; this outcome would determine their pay. We varied the value of the die second closest to the fixation cross to be either higher (i.e., tempting) or lower (i.e., not tempting) than the die closest to the fixation cross. Results of two experiments revealed that in ambiguous settings, people's incorrect responses were self-serving. Tracking participants' eye movements demonstrated that people's ethical blind spots are shaped by increased attention toward tempting information. © The Author(s) 2015.

  17. Asymmetric price responses, market integration and market power: A study of the U.S. natural gas market

    International Nuclear Information System (INIS)

    Murry, Donald; Zhu, Zhen

    2008-01-01

    We studied the market performance at selected, representative natural gas trading hubs in the U.S. and documented different price behaviors among various hubs. With NYMEX prices as the competitive benchmark, we found empirically that the spot price responses at some trading hubs were systematically asymmetric, thus demonstrating a market advantage by either buyers or sellers. We further found that the presence of market power was a very plausible explanation for this price behavior at some hubs. (author)

  18. World uranium markets: an update

    International Nuclear Information System (INIS)

    Connor, M.J.

    1983-01-01

    The current state of the world's uranium market and its effect on US nuclear-fueled utilities is discussed. Major uranium-related issues that will confront US utility nuclear fuel managers in the coming years are presented, emphasizing the perspectives of supply, demand, world market adjustment, and US market restrictions on imports. It is stated that the US market is essential by non-US producers to help equilibrate an otherwise excessive supply which would cause chaos in the market. To avoid another ten-year boom/bust cycle, the US is urged to reexamine its position on long-term contracts - which permit greater price stability in contrast to the spot market and its price fluctuations. 13 figures, 6 tables

  19. Resistance Spot Welding of dissimilar Steels

    Directory of Open Access Journals (Sweden)

    Ladislav Kolařík

    2012-01-01

    Full Text Available This paper presents an analysis of the properties of resistance spot welds between low carbon steel and austenitic CrNi stainless steel. The thickness of the welded dissimilar materials was 2 mm. A DeltaSpot welding gun with a process tape was used for welding the dissimilar steels. Resistance spot welds were produced with various welding parameters (welding currents ranging from 7 to 8 kA. Light microscopy, microhardness measurements across the welded joints, and EDX analysis were used to evaluate the quality of the resistance spot welds. The results confirm the applicability of DeltaSpot welding for this combination of materials.

  20. ESA uncovers Geminga's `hot spot'

    Science.gov (United States)

    2004-07-01

    16 July 2004 Astronomers using ESA’s X-ray observatory XMM-Newton have detected a small, bright ‘hot spot’ on the surface of the neutron star called Geminga, 500 light-years away. The hot spot is the size of a football field and is caused by the same mechanism producing Geminga’s X-ray tails. This discovery identifies the missing link between the X-ray and gamma-ray emission from Geminga. hi-res Size hi-res: 1284 kb Credits: ESA, P. Caraveo (IASF, Milan) Geminga's hot spot This figure shows the effects of charged particles accelerated in the magnetosphere of Geminga. Panel (a) shows an image taken with the EPIC instrument on board the XMM-Newton observatory. The bright tails, made of particles kicked out by Geminga’s strong magnetic field, trail the neutron star as it moves about in space. Panel (b) shows how electrically charged particles interact with Geminga’s magnetic field. For example, if electrons (blue) are kicked out by the star, positrons (in red) hit the star’s magnetic poles like in an ‘own goal’. Panel (c) illustrates the size of Geminga’s magnetic field (blue) compared to that of the star itself at the centre (purple). The magnetic field is tilted with respect to Geminga’s rotation axis (red). Panel (d) shows the magnetic poles of Geminga, where charged particles hit the surface of the star, creating a two-million degrees hot spot, a region much hotter than the surroundings. As the star spins on its rotation axis, the hot spot comes into view and then disappears, causing the periodic colour change seen by XMM-Newton. An animated version of the entire sequence can be found at: Click here for animated GIF [low resolution, animated GIF, 5536 KB] Click here for AVI [high resolution, AVI with DIVX compression, 19128 KB] hi-res Size hi-res: 371 kb Credits: ESA, P. Caraveo (IASF, Milan) Geminga's hot spot, panel (a) Panel (a) shows an image taken with the EPIC instrument on board the XMM-Newton observatory. The bright tails, made of

  1. Three Steps to Engage Volunteers in Membership Marketing

    Science.gov (United States)

    Rossell, Tony

    2011-01-01

    There is a big world out there, and volunteers can make a significant impact in helping one reach out to others and grow his/her PTA membership. In fact, word-of-mouth marketing tied for the top spot as the most effective method of new member recruitment in Marketing General's 2010 Membership Marketing Benchmarking Report. So getting volunteers'…

  2. Marketing; Il marketing

    Energy Technology Data Exchange (ETDEWEB)

    Muscigna, M. [ENEA, Centro Ricerche Casaccia, S. Maria di Galeria, RM (Italy). Dipt. Innovazione

    1999-07-01

    The report discusses marketing strategies oriented to the organizations and analyzes its critical factors, which determine the success of the organization activity. [Italian] Il rapporto analizza i caratteri delle strategie del marketing orientato all'impresa. Vengono infine analizzati i fattori critici che determinano il successo o l'insuccesso delle scelte aziendali.

  3. A review of the deregulated power market since market opening

    International Nuclear Information System (INIS)

    Runge, C.

    2003-01-01

    The Alberta electrical industry structure was discussed along with the market opportunities and historic market data pertaining to Alberta. The Alberta electrical industry is responsible for 20,000 kilometres of transmission lines, connections with British Columbia and Saskatchewan, operates in excess of 90 generating units, with 200 Power Pool participants. The Alberta electricity generation breakdown was provided (coal, gas, hydro), and a look at the projected growth in installed capacity provided. General information concerning the Power Pool of Alberta was presented. In discussing market opportunities, the author began by looking at the evolution of the Alberta market, noting that the Pool commenced operations in 1996. A discussion followed on real time spot market, direct sales, contract for differences (CfD), and other market opportunities. The last part of the presentation dealt with historical market data. The Alberta annual Pool price from 1996 to 2002 was presented, along with daily pool price 1996-2002. The factors affecting Pool price are: other markets, input costs, supply-demand balance, and other market elements. Alberta imports and exports were discussed, followed by a look at forward trading activity. Market evolution was addressed, including considerations in next phase of Alberta market. figs

  4. Uranium market enters slow summer period as enrichment market heats up

    International Nuclear Information System (INIS)

    Anon.

    1993-01-01

    Prices slipped in the restricted and unrestricted uranium markets. Prices in the restricted market remained above the $10-benchmark, with uranium trading in the relatively narrow range of $10.05 to $10.20 per lb U3O8. Meanwhile, NUKEM detected a lowering and widening of the range in the unrestricted market; $7.10 to $7.45 per lb U3O8 was the order of the day there. The other notable feature of recent price movements has been the aggressive competition in the US spot conversion market. Many analysts have noted favorable prices for UF6 relative to components in recent market activity. Summer doldrums appear to be setting in. May and a correspondingly small number of offers are outstanding as of the end of the month. Last month NUKEM inaugurated a spot conversion price range and asked for readers' views. Those expressing an opinion were unanimous; NUKEM will publish both its longstanding estimate of new contract prices as well as the spot range. Some noted the somewhat wide range of last month's spot conversion prices. In explanation, we note that this figure encompasses activity over the full month and in the US as well as the non-US markets. Thus, it resembles the spot SWU range

  5. World nuclear fuel market. Seventeenth annual meeting

    International Nuclear Information System (INIS)

    Anon.

    1990-01-01

    The papers presented at the seventeenth World Nuclear Fuels Market meeting are cataloged individually. This volume includes information on the following areas of interest: historical and current aspects of the uranium and plutonium market with respect to supply and demand, pricing, spot market purchasing, and other market phenomena; impact of reprocessing and recycling uranium, plutonium, and mixed oxide fuels; role of individual countries in the market: Hungary, Germany, the Soviet Union, Czechoslovakia, France, and the US; the impact of public opinion and radioactive waste management on the nuclear industry, and a debate regarding long term versus short term contracting by electric utilities for uranium and enrichment services

  6. Watermarking spot colors in packaging

    Science.gov (United States)

    Reed, Alastair; Filler, TomáÅ.¡; Falkenstern, Kristyn; Bai, Yang

    2015-03-01

    In January 2014, Digimarc announced Digimarc® Barcode for the packaging industry to improve the check-out efficiency and customer experience for retailers. Digimarc Barcode is a machine readable code that carries the same information as a traditional Universal Product Code (UPC) and is introduced by adding a robust digital watermark to the package design. It is imperceptible to the human eye but can be read by a modern barcode scanner at the Point of Sale (POS) station. Compared to a traditional linear barcode, Digimarc Barcode covers the whole package with minimal impact on the graphic design. This significantly improves the Items per Minute (IPM) metric, which retailers use to track the checkout efficiency since it closely relates to their profitability. Increasing IPM by a few percent could lead to potential savings of millions of dollars for retailers, giving them a strong incentive to add the Digimarc Barcode to their packages. Testing performed by Digimarc showed increases in IPM of at least 33% using the Digimarc Barcode, compared to using a traditional barcode. A method of watermarking print ready image data used in the commercial packaging industry is described. A significant proportion of packages are printed using spot colors, therefore spot colors needs to be supported by an embedder for Digimarc Barcode. Digimarc Barcode supports the PANTONE spot color system, which is commonly used in the packaging industry. The Digimarc Barcode embedder allows a user to insert the UPC code in an image while minimizing perceptibility to the Human Visual System (HVS). The Digimarc Barcode is inserted in the printing ink domain, using an Adobe Photoshop plug-in as the last step before printing. Since Photoshop is an industry standard widely used by pre-press shops in the packaging industry, a Digimarc Barcode can be easily inserted and proofed.

  7. Use of derivative instruments to integrate renewable energies into the electricity market

    International Nuclear Information System (INIS)

    Hartmann, Kilian; Nelles, Michael; Candra, Dodiek Ika

    2017-01-01

    The implementation of renewable energies to the electricity market is inefficient and expensive with current measures. Further these measures are prejudicial for the existing energy-only-market. The combination of fluctuating and controllable renewable powers in virtual power plants enables the marketing of this power as a derivate on the future market. Thus would relieve the spot market and stabilize pricing on both markets. Subsequently the renewable energy obligation will reduce and renewable energies could be marketed as secured power.

  8. Analysis of the Relationship between Ethanol Spot and Futures Prices in Brazil

    Directory of Open Access Journals (Sweden)

    Derick D. Quintino

    2017-04-01

    Full Text Available In this work, an investigation and analysis are carried out in order to observe the relationship between ethanol spot and futures prices in Brazil. We adopted the Engle and Granger co-integration approach. Also, we consider the information share method proposed by Hasbrouck in order to examine the market efficiency in price discovery and information transmission. Results show that although the futures market is efficient in price discovery and information transmission, the cash market leads the long-run price discovery process. This suggests that the underlying cause of the dominance of the available market over the futures market can be attributed to the market’s relative concentration in wholesale ethanol distribution due to the formation of marketing pools by the ethanol mills, as well as the small number of distributors that control a significant portion of the market share.

  9. Contributions to the financial mathematics of energy markets

    NARCIS (Netherlands)

    Permana, F.J.

    2008-01-01

    This thesis provides several contributions to quantitative finance for energy markets: electricity price modelling, implying oil price volatilities, pricing and hedging of exotic commodity options. Electricity spot prices are characterized by spikes (jumps) because electricity is non-storable. A

  10. Gold and oil futures markets: Are markets efficient?

    Energy Technology Data Exchange (ETDEWEB)

    Narayan, Paresh Kumar; Zheng, Xinwei [School of Accounting, Economics and Finance, Faculty of Business and Law, Deakin University, 221 Burwood Highway, Burwood, Victoria 3125 (Australia); Narayan, Seema [School of Economics Finance and Marketing, RMIT University, Melbourne (Australia)

    2010-10-15

    In this paper we examine the long-run relationship between gold and oil spot and futures markets. We draw on the conceptual framework that when oil price rises, it creates inflationary pressures, which instigate investments in gold as a hedge against inflation. We test for the long-run relationship between gold and oil futures prices at different maturity and unravel evidence of cointegration. This implies that: (a) investors use the gold market as a hedge against inflation and (b) the oil market can be used to predict the gold market prices and vice versa, thus these two markets are jointly inefficient, at least for the sample period considered in this study. (author)

  11. Gold and oil futures markets: Are markets efficient?

    International Nuclear Information System (INIS)

    Narayan, Paresh Kumar; Zheng, Xinwei; Narayan, Seema

    2010-01-01

    In this paper we examine the long-run relationship between gold and oil spot and futures markets. We draw on the conceptual framework that when oil price rises, it creates inflationary pressures, which instigate investments in gold as a hedge against inflation. We test for the long-run relationship between gold and oil futures prices at different maturity and unravel evidence of cointegration. This implies that: (a) investors use the gold market as a hedge against inflation and (b) the oil market can be used to predict the gold market prices and vice versa, thus these two markets are jointly inefficient, at least for the sample period considered in this study. (author)

  12. Price formation in electricity forward markets and the relevance of systematic forecast errors

    International Nuclear Information System (INIS)

    Redl, Christian; Haas, Reinhard; Huber, Claus; Boehm, Bernhard

    2009-01-01

    Since the liberalisation of the European electricity sector, forward and futures contracts have gained significant interest of market participants due to risk management reasons. For pricing of these contracts an important fact concerns the non-storability of electricity. In this case, according to economic theory, forward prices are related to the expected spot prices which are built on fundamental market expectations. In the following article the crucial impact parameters of forward electricity prices and the relationship between forward and future spot prices will be assessed by an empirical analysis of electricity prices at the European Energy Exchange and the Nord Pool Power Exchange. In fact, price formation in the considered markets is influenced by historic spot market prices yielding a biased forecasting power of long-term contracts. Although market and risk assessment measures of market participants and supply and demand shocks can partly explain the futures-spot bias inefficiencies in the analysed forward markets cannot be ruled out. (author)

  13. Identification of measures for prevention of black spots in organically produced stored carrots

    NARCIS (Netherlands)

    Köhl, J.; Kastelein, P.; Elderson, J.; Blok, W.J.

    2005-01-01

    In the Netherlands winter carrot for the fresh market is a cash crop for many organic growers of field vegetables. In the last few years blackish spots have been observed during storage of carrot roots. An inventory was carried out in 2001/2002 and 2002/2003 including in total 42 carrot lots from 22

  14. Integrating sustainable hunting in biodiversity protection in Central Africa: hot spots, weak spots, and strong spots.

    Directory of Open Access Journals (Sweden)

    John E Fa

    Full Text Available Wild animals are a primary source of protein (bushmeat for people living in or near tropical forests. Ideally, the effect of bushmeat harvests should be monitored closely by making regular estimates of offtake rate and size of stock available for exploitation. However, in practice, this is possible in very few situations because it requires both of these aspects to be readily measurable, and even in the best case, entails very considerable time and effort. As alternative, in this study, we use high-resolution, environmental favorability models for terrestrial mammals (N = 165 in Central Africa to map areas of high species richness (hot spots and hunting susceptibility. Favorability models distinguish localities with environmental conditions that favor the species' existence from those with detrimental characteristics for its presence. We develop an index for assessing Potential Hunting Sustainability (PHS of each species based on their ecological characteristics (population density, habitat breadth, rarity and vulnerability, weighted according to restrictive and permissive assumptions of how species' characteristics are combined. Species are classified into five main hunting sustainability classes using fuzzy logic. Using the accumulated favorability values of all species, and their PHS values, we finally identify weak spots, defined as high diversity regions of especial hunting vulnerability for wildlife, as well as strong spots, defined as high diversity areas of high hunting sustainability potential. Our study uses relatively simple models that employ easily obtainable data of a species' ecological characteristics to assess the impacts of hunting in tropical regions. It provides information for management by charting the geography of where species are more or less likely to be at risk of extinction from hunting.

  15. Mid-year market review

    International Nuclear Information System (INIS)

    Anon.

    1993-01-01

    Spot market activity thus far in 1993-and indeed since the signing of the suspension agreements last fall-has been low by recent historical measures, the result of high levels of discretionary buying earlier in 1992 and continuing uncertainty about the performance of the current higher prices in the US market. The discretionary buying during the first three quarters of 1992 was a function of then-low prices and concerns about the outcome of the antidumping case. Last fall, following the signing of the suspension agreements, buying activity declined substantially, and a definite two-tiered market emerged, with prices in the restricted uranium market rising quickly for buyers requiring delivery in the USA. This article reviews the first 6 months of 1993 uranium market activity

  16. Reassessing the integration of European electricity markets: A fractional cointegration analysis

    International Nuclear Information System (INIS)

    Menezes, Lilian M. de; Houllier, Melanie A.

    2016-01-01

    This study extends existing literature on the assessment of electricity market integration in Europe, by developing and testing hypotheses on the convergence of electricity wholesale prices, and adopting a time-varying fractional cointegration analysis. In addition, the potential impacts of some special events that may affect system capacity (new interconnection, market coupling, increase in share of intermittent generation) on spot and forward markets are considered and evaluated. Daily spot prices from February 2000 to March 2013 of nine European electricity spot markets (APX-UK, APX-NL, Belpex, EPEX-FR, EPEX-DE, IPEX, Nordpool, Omel and OTE) and month-ahead prices in four markets (French, British, German and Dutch) from November 2007 to December 2012 are investigated. Results show that unit root tests, which are generally used in the literature to test market integration, are inadequate for assessing electricity spot market convergence, because spot prices are found to be fractionally integrated and mean-reverting time series. Furthermore, spot price behaviour and their association with different markets change over time, reflecting changes in the EU electrical system. One-month-ahead prices, by contrast, were found to have become more resilient to shocks and to follow more stable trends. - Highlights: • We examine electricity market convergence in the EU. • Common price dynamics are affected by changes in interconnection and capacity. • Forward markets have increased in resilience. • Germany's nuclear plant closures had an adverse effect on most European electricity markets.

  17. Structuring spot, short and long term gas contracts

    International Nuclear Information System (INIS)

    Gretener, N.M.

    1996-01-01

    A review of the core clauses of the modern natural gas purchase and sales contracts, was presented. There exists a wide variety of terms which can be used by a seller and a buyer to customize such a contract to suit particular circumstances. On the basis of length of term, gas contracts may classified as spot contracts having a term of 30 days or less, short term contracts having a term of 30 days to one to two years, and long term contracts having terms greater than two years. The three key elements which are applicable to all gas sales contracts are the contract price, the seller's obligation to deliver, and the buyer's obligation to accept. Other provisions that may be included in any gas sales contract in addition to the basic three were reviewed, including market pricing, load factor incentive pricing, seasonal pricing, pipeline demand charges, market shares, and the seller's right to decontract

  18. Market values summary/September market review/current market data

    International Nuclear Information System (INIS)

    Anon.

    1994-01-01

    This article is the September 1994 uranium market summary. In the concentrates and conversion market, there were four deals. The unrestricted value decreased slightly to $7.00, and the restricted value decreased to $9.05. In the UF6 market, there was a single transaction. Both the restricted and the unrestricted values decreased ($29.00 and $24.25 respectively). The restricted transaction value was unchanged at $9.15, while the unrestricted value decreased to $7.10. In the enrichment services market, long-term contracting picked up and there were two deals in the spot market. Restricted values dropped to $84.00 per SWU, while the unrestricted value remained constant at $67.00 per SWU. Active uranium supply increased, while active uranium demand decreased

  19. Adjustable consumption participating in the electricity markets

    DEFF Research Database (Denmark)

    Biegel, Benjamin; Hansen, Lars Henrik; Stoustrup, Jakob

    2013-01-01

    We consider a player managing a portfolio of flexible demand-side devices and examine the requirements for such a player to become an active player in the Nordic electricity system. In particular, we examine the regulatory requirements that must be satisfied to perform spot price optimization...... are aggregated and utilized for spot price optimization and to participate in the regulating power market. In this case study we examine in detail the implications of the given regulatory requirements for market participation in the Nordic system and compare this with estimates of the revenue that can...

  20. Hot spots of mutualistic networks.

    Science.gov (United States)

    Gilarranz, Luis J; Sabatino, Malena; Aizen, Marcelo A; Bascompte, Jordi

    2015-03-01

    Incorporating interactions into a biogeographical framework may serve to understand how interactions and the services they provide are distributed in space. We begin by simulating the spatiotemporal dynamics of realistic mutualistic networks inhabiting spatial networks of habitat patches. We proceed by comparing the predicted patterns with the empirical results of a set of pollination networks in isolated hills of the Argentinian Pampas. We first find that one needs to sample up to five times as much area to record interactions as would be needed to sample the same proportion of species. Secondly, we find that peripheral patches have fewer interactions and harbour less nested networks - therefore potentially less resilient communities - compared to central patches. Our results highlight the important role played by the structure of dispersal routes on the spatial distribution of community patterns. This may help to understand the formation of biodiversity hot spots. © 2014 The Authors. Journal of Animal Ecology © 2014 British Ecological Society.

  1. Cosmicflows-3: Cold Spot Repeller?

    Energy Technology Data Exchange (ETDEWEB)

    Courtois, Hélène M.; Graziani, Romain; Dupuy, Alexandra [University of Lyon, UCB Lyon 1, CNRS/IN2P3, IPN, Lyon (France); Tully, R. Brent [Institute for Astronomy, University of Hawaii, 2680 Woodlawn Drive, Honolulu, HI 96822 (United States); Hoffman, Yehuda [Racah Institute of Physics, Hebrew University, Jerusalem, 91904 (Israel); Pomarède, Daniel [Institut de Recherche sur les Lois Fondamentales de l’Univers, CEA, Université Paris-Saclay, F-91191 Gif-sur-Yvette (France)

    2017-09-20

    The three-dimensional gravitational velocity field within z ∼ 0.1 has been modeled with the Wiener filter methodology applied to the Cosmicflows-3 compilation of galaxy distances. The dominant features are a basin of attraction and two basins of repulsion. The major basin of attraction is an extension of the Shapley concentration of galaxies. One basin of repulsion, the Dipole Repeller, is located near the anti-apex of the cosmic microwave background dipole. The other basin of repulsion is in the proximate direction toward the “Cold Spot” irregularity in the cosmic microwave background. It has been speculated that a vast void might contribute to the amplitude of the Cold Spot from the integrated Sachs–Wolfe effect.

  2. Comparing the spot prices from Powernext and EEX

    International Nuclear Information System (INIS)

    Galli, A.; Armstrong, M.

    2005-01-01

    Powernext SA is a Multilateral Trading Facility in charge of managing the French power exchange through an optional and anonymous organised exchange. Powernext started operating on 27 November 2001. Although the German exchange, EEX, has been functioning for much longer, the two have many common points. Both use the same system for fixing the day-ahead spot price, the one developed by NordPool. In contrast to Omel in Spain, power producers in France and Germany are not obliged to sell through the exchange. In addition, the cross-border transmission lines that physically link the French and German grids, not only make the electricity supply more reliable they also allow cross-border commercial transactions which should homogenize prices in both countries. So after nearly a year of operation it is interesting to compare the spot prices on the two exchanges in order to have a better understanding of the statistical properties of the prices in the two markets and the relationship between them. This information will be used when modelling the structure of the day-ahead spot prices. The data used to carry out the study consists of the (hourly) spot prices for electricity from Powernext and EEX, for the period from 1 January 2002 to 2 December 2002. Data from the first five weeks of trading were not included because traded volumes were relatively low initially and so these data are not necessarily representative. This report is divided into four sections. The first one presents the basic statistics, starting with the histograms of all the 8064 spot prices in the 336 days, for both exchanges. In time series data, it is usual to find three types of seasonality: daily, weekly and annual. As the available data cover less than one calendar year, it is too early to attempt to study annual trends. So we limit ourselves to studying daily and weekly fluctuations. Plotting the hourly average prices for each day of the week shows some interesting differences between Powernext and

  3. Market, Regulation, Market, Regulation

    DEFF Research Database (Denmark)

    Frankel, Christian; Galland, Jean-Pierre

    2015-01-01

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

  4. A rough multi-factor model of electricity spot prices

    International Nuclear Information System (INIS)

    Bennedsen, Mikkel

    2017-01-01

    We introduce a new continuous-time mathematical model of electricity spot prices which accounts for the most important stylized facts of these time series: seasonality, spikes, stochastic volatility, and mean reversion. Empirical studies have found a possible fifth stylized fact, roughness, and our approach explicitly incorporates this into the model of the prices. Our setup generalizes the popular Ornstein–Uhlenbeck-based multi-factor framework of and allows us to perform statistical tests to distinguish between an Ornstein–Uhlenbeck-based model and a rough model. Further, through the multi-factor approach we account for seasonality and spikes before estimating – and making inference on – the degree of roughness. This is novel in the literature and we present simulation evidence showing that these precautions are crucial for accurate estimation. Lastly, we estimate our model on recent data from six European energy exchanges and find statistical evidence of roughness in five out of six markets. As an application of our model, we show how, in these five markets, a rough component improves short term forecasting of the prices. - Highlights: • Statistical modeling of electricity spot prices • Multi-factor decomposition • Roughness • Electricity price forecasting

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

    International Nuclear Information System (INIS)

    Kolos, Sergey P.; Ronn, Ehud I.

    2008-01-01

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

  6. Spatial dependencies of wind power and interrelations with spot price dynamics

    International Nuclear Information System (INIS)

    Elberg, Christina; Hagspiel, Simeon

    2013-01-01

    Wind power has seen a strong growth over the last decade. Due to its high intermittency, spot prices have become more volatile and exhibit correlated behavior with wind power fed into the system. In this paper, we develop a stochastic simulation model that incorporates the spatial dependencies of wind power and its interrelations with spot prices: We employ a structural supply and demand based model for the electricity spot price that takes into account stochastic production quantities of wind power. Spatial dependencies are modeled with the help of copulas, thus linking the single turbine wind power to the aggregated wind power in a market. The model is applied to the German electricity market where wind power already today makes up a significant share of total power production. Revenue distributions and the market value of different wind power plants are analyzed. We find that the specific location of the considered wind turbine, i.e. its spatial dependency with respect to the aggregated wind power in the system, is of high relevance for its market value. Many of the analyzed locations show an upper tail dependence that adversely impacts the market value. This effect becomes more important for increasing levels of wind power penetration.

  7. Hot Spot Removal System: System description

    International Nuclear Information System (INIS)

    1997-09-01

    Hazardous wastes contaminated with radionuclides, chemicals, and explosives exist across the Department of Energy complex and need to be remediated due to environmental concerns. Currently, an opportunity is being developed to dramatically reduce remediation costs and to assist in the acceleration of schedules associated with these wastes by deploying a Hot Spot Removal System. Removing the hot spot from the waste site will remove risk driver(s) and enable another, more cost effective process/option/remedial alternative (i.e., capping) to be applied to the remainder of the site. The Hot Spot Removal System consists of a suite of technologies that will be utilized to locate and remove source terms. Components of the system can also be used in a variety of other cleanup activities. This Hot Spot Removal System Description document presents technologies that were considered for possible inclusion in the Hot Spot Removal System, technologies made available to the Hot Spot Removal System, industrial interest in the Hot Spot Removal System''s subsystems, the schedule required for the Hot Spot Removal System, the evaluation of the relevant technologies, and the recommendations for equipment and technologies as stated in the Plan section

  8. Inbound marketing

    OpenAIRE

    Popek, Tomáš

    2011-01-01

    In my work I focus on Inbound Marketing, which represents a new perspective on marketing, that has not been given the attention it deserves. It is a combination of existing and proven marketing methods that are used to obtain new customers with minimal marketing costs to the organization. The first section of my work is devoted to defining the concept of Inbound Marketing definitions and explanations. Furthermore, I present a list of instruments used in Inbound Marketing, and showcase the def...

  9. Which way the natural gas price. An attempt to predict the direction of natural gas spot price movements using trader positions

    International Nuclear Information System (INIS)

    Buchanan, W.K.; Hodges, P.; Theis, J.

    2001-01-01

    This research provides a method of predicting direction of spot price movements in the natural gas market for the month succeeding from market participants positions in the futures market. Cumby and Modest (Cumby, R.E., Modest, D.M., 1987. Testing for market timing ability: a framework for forecast evaluation. Journal of Financial Economics 19, 169-189) provide the backdrop for analyzing the futures market positions of large hedgers and speculators to arrive at conclusions of market price movements in the spot market. This methodology is suggested as a means for municipalities entering the natural gas market to improve upon their ordering of quantities of gas for the ensuing months in order to take advantage of possibly foreseeable price trends

  10. 7 CFR 28.415 - Low Middling Light Spotted Color.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Low Middling Light Spotted Color. 28.415 Section 28... Spotted Color. Low Middling Light Spotted Color is color which in spot or color, or both, is between Low Middling Color and Low Middling Spotted Color. ...

  11. 7 CFR 28.411 - Good Middling Light Spotted Color.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Good Middling Light Spotted Color. 28.411 Section 28... Light Spotted Color. Good Middling Light Spotted Color is color which in spot or color, or both, is between Good Middling Color and Good Middling Spotted Color. ...

  12. 7 CFR 28.413 - Middling Light Spotted Color.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Middling Light Spotted Color. 28.413 Section 28.413... Spotted Color. Middling Light Spotted Color is color which in spot or color, or both, is between Middling Color and Middling Spotted Color. ...

  13. 7 CFR 28.412 - Strict Middling Light Spotted Color.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Strict Middling Light Spotted Color. 28.412 Section 28... Light Spotted Color. Strict Middling Light Spotted Color is color which in spot or color, or both, is between Strict Middling Color and Strict Middling Spotted Color. ...

  14. Economic model of the US uranium market

    International Nuclear Information System (INIS)

    Owen, A.D.

    1984-01-01

    An economic model of the US uranium market is developed using annual data for the period 1966-81. The model consists of five stochastic equations explaining uranium consumption, forward commitments, mine production, contract prices, and spot prices. A forecasting exercise is also undertaken. By way of essential background information, however, an analysis of current trends in the international uranium market is given, followed by a summary of historical price movements in the US uranium market. A brief discussion on the current state of the US market precedes the statistical analysis. 19 footnotes and references, 3 tables

  15. A market in transition

    International Nuclear Information System (INIS)

    Carter, N.

    2014-01-01

    In March 2011, the uranium market was hit hard by the Fukushima disaster, which stalled the growth in nuclear reactor requirements and is still having a profound effect today with zero Japanese nuclear reactors in operation. To make matters worse, the evolving shale gas revolution has made it difficult for many U.S. merchant nuclear plants to compete with gas-fired plants, leading some of these plants to shut down early. As Japanese nuclear plants remain offline, uranium inventories have been building, with the market currently sitting on excess supply of about 14 million pounds U3O8 [~5,400 t U] for 2014. Due to the current oversupply situation, uranium prices have moved below where the true equilibrium likely should be, especially given that 50% of current uranium production is at a full cost above the current spot price of $35 per pound [91 USD/kg U]. Although new uranium projects are planned over the next few years, they are not assured of coming online unless market conditions improve. And with more production cutbacks eminent due to the unfavorable economics for some operating and planned uranium mines, the market could find itself in a volatile situation in only a few years with Chinese nuclear generation expected to grow rapidly, and new countries such as the U.A.E. and Saudi Arabia advancing their nuclear power programs. In fact, the pullback in both the spot and long-term uranium prices over the past three years could again create a problem for the market over the next few years since there is currently less impetus to expand uranium production or engage in exploration. With global nuclear reactor requirements still increasing significantly in the medium- to long-term, more requisite new production will have to be brought online, especially with the U.S.-Russia HEU deal having ended last year, which contributed to up to 24 million pounds of U 3 O 8 [~9,200 tU] feed annually. In addition to transitioning from an inventory-driven market to a production

  16. Market power and technological bias in electricity generation markets

    International Nuclear Information System (INIS)

    Twomey, Paul; Neuhoff, Karsten

    2005-01-01

    It is difficult or very costly to avoid all market power in electricity markets. A recurring response is that a limited amount of market power is accepted with the justification that it is necessary to produce revenues to cover some of the fixed costs. It is assumed that all market participants benefit equally from the increased prices. However, this assumption is not satisfied if different production technologies are used. We assess the case of a generation mix of conventional generation and intermittent generation with exogenously varying production levels. If all output is sold in the spot market, then intermittent generation benefits less from market power than conventional generation. If forward contracts or option contracts are signed, then market power might be reduced but the bias against returns to intermittent generators persists. Thus allowing some level of market power as a means of encouraging investment in new generation may result in a bias against intermittent technologies or increase the costs of strategic deployment to achieve renewable quotas. (Author)

  17. Sustainable Marketing

    NARCIS (Netherlands)

    Dam, van Y.K.

    2017-01-01

    In this article, three different conceptions of sustainable marketing are discussed and compared. These different conceptions are referred to as social, green, and critical sustainable marketing. Social sustainable marketing follows the logic of demand-driven marketing management and places the

  18. Gold, fiat money and price stability

    OpenAIRE

    Michael D. Bordo; Robert Dittmar; William T. Gavin

    2006-01-01

    The classical gold standard has long been associated with long-run price stability. But short-run price variability led critics of the gold standard to propose reforms that look much like modern versions of price-path targeting. This paper uses a dynamic stochastic general equilibrium model to examine price dynamics under alternative policy regimes. In the model, an inflation target provides more short-run price stability than does the gold standard and, although it introduces a unit root int...

  19. HUBBLE FINDS NEW DARK SPOT ON NEPTUNE

    Science.gov (United States)

    2002-01-01

    NASA's Hubble Space Telescope has discovered a new great dark spot, located in the northern hemisphere of the planet Neptune. Because the planet's northern hemisphere is now tilted away from Earth, the new feature appears near the limb of the planet. The spot is a near mirror-image to a similar southern hemisphere dark spot that was discovered in 1989 by the Voyager 2 probe. In 1994, Hubble showed that the southern dark spot had disappeared. Like its predecessor, the new spot has high altitude clouds along its edge, caused by gasses that have been pushed to higher altitudes where they cool to form methane ice crystal clouds. The dark spot may be a zone of clear gas that is a window to a cloud deck lower in the atmosphere. Planetary scientists don t know how long lived this new feature might be. Hubble's high resolution will allow astronomers to follow the spot's evolution and other unexpected changes in Neptune's dynamic atmosphere. The image was taken on November 2, 1994 with Hubble's Wide Field Planetary Camera 2, when Neptune was 2.8 billion miles (4.5 billion kilometers) from Earth. Hubble can resolve features as small as 625 miles (1,000 kilometers) across in Neptune's cloud tops. Credit: H. Hammel (Massachusetts Institute of Technology) and NASA

  20. A complementarity model for solving stochastic natural gas market equilibria

    International Nuclear Information System (INIS)

    Zhuang Jifang; Gabriel, Steven A.

    2008-01-01

    This paper presents a stochastic equilibrium model for deregulated natural gas markets. Each market participant (pipeline operators, producers, etc.) solves a stochastic optimization problem whose optimality conditions, when combined with market-clearing conditions give rise to a certain mixed complementarity problem (MiCP). The stochastic aspects are depicted by a recourse problem for each player in which the first-stage decisions relate to long-term contracts and the second-stage decisions relate to spot market activities for three seasons. Besides showing that such a market model is an instance of a MiCP, we provide theoretical results concerning long-term and spot market prices and solve the resulting MiCP for a small yet representative market. We also note an interesting observation for the value of the stochastic solution for non-optimization problems

  1. A complementarity model for solving stochastic natural gas market equilibria

    International Nuclear Information System (INIS)

    Jifang Zhuang; Gabriel, S.A.

    2008-01-01

    This paper presents a stochastic equilibrium model for deregulated natural gas markets. Each market participant (pipeline operators, producers, etc.) solves a stochastic optimization problem whose optimality conditions, when combined with market-clearing conditions give rise to a certain mixed complementarity problem (MiCP). The stochastic aspects are depicted by a recourse problem for each player in which the first-stage decisions relate to long-term contracts and the second-stage decisions relate to spot market activities for three seasons. Besides showing that such a market model is an instance of a MiCP, we provide theoretical results concerning long-term and spot market prices and solve the resulting MiCP for a small yet representative market. We also note an interesting observation for the value of the stochastic solution for non-optimization problems. (author)

  2. Capacity mechanisms and effects on market structure

    International Nuclear Information System (INIS)

    Elberg, Christina; Kranz, Sebastian

    2014-01-01

    Liberalized electricity markets are characterized by fluctuating priceinelastic demand of non-storable electricity, often defined by a substantial market share held by one or few incumbent firms. These characteristics have led to a controversial discussion concerning the need for and the design of capacity mechanisms, which combine some form of capacity payments with price caps in the spot market. The purpose of this study is to understand the effects of capacity mechanisms on the market structure. We consider a model with dominant firms and a competitive fringe and investigate the impact of price caps and capacity payments on investment incentives and market concentration. While lower price caps reduce the potential for the exercise of market power in static models, we find that in the dynamic model with endogenous investments, lower price caps result in an increase in market concentration, the frequency of capacity withholding and the profits of the dominant firms.

  3. Pink Spot - Literature Review and Case Report.

    Science.gov (United States)

    Petel, Roy; Fuks, Anna

    Pink spots in teeth were first described by Mummery in 1920, and were related to resorption. Resorption is a pathologic process that often eludes the clinician with its varied etiologic factors and diverse clinical presentations. Resorption can be generally classified as internal and external resorption. Internal resorption has been described as a rare occurrence as compared to external resorption. This article describes a pink spot that was diagnosed as a progressing resorption process. Early diagnosis enabled a successful management of the lesion. Early diagnosis and treatment of an internal resorption, clinically seen as a pink spot, in a primary central incisor may prevent its fast progress and subsequent loss.

  4. Hospital marketing.

    Science.gov (United States)

    Carter, Tony

    2003-01-01

    This article looks at a prescribed academic framework for various criteria that serve as a checklist for marketing performance that can be applied to hospital marketing organizations. These guidelines are drawn from some of Dr. Noel Capon of Columbia University's book Marketing Management in the 21st Century and applied to actual practices of hospital marketing organizations. In many ways this checklist can act as a "marketing" balanced scorecard to verify performance effectiveness and develop opportunities for innovation.

  5. Internet marketing

    OpenAIRE

    Zelený, Martin

    2009-01-01

    In the bachelor thesis are introduced theoretical concepts of the Internet and marketing, accented the need of marketing mix along with its specifics of the internet environment. Next is interpreted which tools can be used for marketing of firms and which marketing instruments are to be deployed. Final chapter illustrates socio-demographics of Czech internet users along with media market allocation from the perspective of all media as well as in the segment of the Internet.

  6. Lead-lag effects between Brent Crude Futures and its respective spot prices

    Directory of Open Access Journals (Sweden)

    Diego Garcia Angelico

    2017-03-01

    Full Text Available This article aims the analyses of the causality and temporal precedence relationships between the spot and futures prices of Brent oil, those last ones inherent to financial markets. In order to achieve this objective, the main tools used were: Johansen cointegration test; Granger causality/Block Exogeneity Wald test (GCBEW; generalized impulse response function and variance decomposition of forecast errors, those three last ones were estimated based in a Vector Error Correction Model (VEC, adjusted to the analyzed variables. The results indicated that, for the stipulated period, there was a pricing lightweight leadership from the futures contracts to the prices of spot market. However, as a conclusion of the article, the understanding is that this small difference, calculated in several econometric tools, cannot be considered enough to indicate that the Brent oil future market would be distorting its respective spot prices, despite the economic fundamentals of the physical market, such as production, consumption and stockpiling processes. Therefore, management decisions in industries exposed to crude oil prices should be aware of both physical and future markets’ prospections.

  7. HUMANE MARKETING, PEACE MARKETING AND REBRANDING MARKETING

    Directory of Open Access Journals (Sweden)

    Alexandru Mircea NEDELEA

    2016-08-01

    Full Text Available According to humane marketing, the entire population of the Earth must be happy, content and even delighted, not only the clients of certain companies (as considered by the classical marketing. Therefore, from this viewing point, we are dealing with the necessary activity of rebranding the marketing itself. Humane marketing represents and concerns the entire economic system regarded from the point of view of the final result, seen by comparison to the happiness of the entire humanity. Humane marketing represents a new concept, a new vision, a new way of seeing the relationship between the individual and the society he lives in. The essence of the concept (orientation of humane marketing consists in identifying, anticipating and quantifying the needs and desires of humans and their satisfaction. Rebranding marketing will allow passing from a vicious marketing to a beneficial, humane marketing. We think that the society has reached a level of development which allows only one viable solution for evolution, namely to make a qualitative leap in the consciousness of the humanity, which should include, among others, the waiver of aggressive marketing made only in order to obtain profit, to the detriment of attaining human happiness, both individually and of the entire humanity.

  8. The impact of Australian ETS news on wholesale spot electricity prices: An exploratory analysis

    International Nuclear Information System (INIS)

    Chevallier, Julien

    2010-01-01

    This article investigates the impact of news concerning the development of emissions trading in Australia (such as the Carbon Pollution Reduction Scheme (CPRS)) on wholesale electricity spot prices, by using a database of 117 news announcements from December 1, 1998 to July 1, 2009. As power producers constitute the bulk of the participants of the proposed Australian emissions trading scheme, regulatory changes (about allocation, banking, coverage, targets) are indeed likely to affect the five interconnected electricity markets in New South Wales, Queensland, South Australia, Victoria, and Tasmania. We assess these effects with an ARMA(1,1)-GARCH(1,1) model, where daily electricity spot prices are regressed against exogenous variables in the mean and variance equations. This article constitutes the first empirical analysis of Australian ETS news effects on electricity wholesale spot prices. Our results show two asymmetric types of news effects, depending on their information content.

  9. Asparagus Beetle and Spotted Asparagus Beetle

    OpenAIRE

    Hodgson, Erin W.; Drost, Dan

    2007-01-01

    Asparagus beetle, Crioceris asparagi, and spotted asparagus beetle, C. duodecimpunctata are leaf beetles in the family Chrysomelidae. These beetles feed exclusively on asparagus and are native to Europe. Asparagus beetle is the more economically injurious of the two species.

  10. Detecting Blind Spot By Using Ultrasonic Sensor

    Directory of Open Access Journals (Sweden)

    T. S. Ajay

    2015-08-01

    Full Text Available Safety remains a top concern for automobile industries and new-car shoppers. Detection of Blind Spots is a major concern for safety issues. So automobiles have been constantly updating their products with new technologies to detect blind spots so that they can add more safety to the vehicle and also reduce the road accidents. Almost 1.5 million people die in road accidents each year. Blind spot of an automobile is the region of the vehicle which cannot be observed properly while looking either through side or rear mirror view. To meet the above requirements this paper describes detecting blind spot by using ultrasonic sensor and controlling the direction of car by automatic steering. The technology embedded in the system is capable of automatically steer the vehicle away from an obstacle if the system determines that a collision is impending or if the vehicle is in the vicinity of our car.

  11. How Many Spots Does a Cheetah Have?

    Science.gov (United States)

    Reed, Kristine M.

    2000-01-01

    Describes first grade students' mathematical investigation of the number of spots on a cheetah. The exploration of counting and estimation strategies that grew from the investigation gives evidence that mathematicians come in all ages. (ASK)

  12. Plasma spot welding of ferritic stainless steels

    International Nuclear Information System (INIS)

    Lesnjak, A.; Tusek, J.

    2002-01-01

    Plasma spot wedding of ferritic stainless steels studied. The study was focused on welding parameters, plasma and shieldings and the optimum welding equipment. Plasma-spot welded overlap joints on a 0.8 mm thick ferritic stainless steel sheet were subjected to a visual examination and mechanical testing in terms of tension-shear strength. Several macro specimens were prepared Plasma spot welding is suitable to use the same gas as shielding gas and as plasma gas , i. e. a 98% Ar/2% H 2 gas mixture. Tension-shear strength of plasma-spot welded joint was compared to that of resistance sport welded joints. It was found that the resistance welded joints withstand a somewhat stronger load than the plasma welded joints due to a large weld sport diameter of the former. Strength of both types of welded joints is approximately the same. (Author) 32 refs

  13. A telemetry experiment on spotted grunter Pomadasys ...

    African Journals Online (AJOL)

    associated fish in South Africa was investigated by conducting a tracking experiment on spotted grunter Pomadasys commersonnii in the East Kleinemonde Estuary. The telemetry equipment comprised two VEMCO V8 transmitters and a ...

  14. Measuring microfocus focal spots using digital radiography

    Energy Technology Data Exchange (ETDEWEB)

    Fry, David A [Los Alamos National Laboratory

    2009-01-01

    Measurement of microfocus spot size can be important for several reasons: (1) Quality assurance during manufacture of microfocus tubes; (2) Tracking performance and stability of microfocus tubes; (3) Determining magnification (especially important for digital radiography where the native spatial resolution of the digital system is not adequate for the application); (4) Knowledge of unsharpness from the focal spot alone. The European Standard EN 12543-5 is based on a simple geometrical method of calculating focal spot size from unsharpness of high magnification film radiographs. When determining microfocus focal spot dimensions using unsharpness measurements both signal-to-noise (SNR) and magnification can be important. There is a maximum accuracy that is a function of SNR and therefore an optimal magnification. Greater than optimal magnification can be used but it will not increase accuracy.

  15. X-ray spot film device

    International Nuclear Information System (INIS)

    Pury, T.; Tsen, M.L.S.; Gray, F.L.; Stehr, R.E.; Konle, R.L.

    1981-01-01

    Improvements are described in an X-ray spot film device which is used in conjunction with an X-ray table to make a selected number of radiographic exposures on a single film and to perform fluoroscopic examinations. To date, the spot film devices consist of two X-ray field defining masks, one of which is moved manually. The present device is more convenient to use and speeds up the procedure. (U.K.)

  16. Analysis of electricity price in Danish competitive electricity market

    DEFF Research Database (Denmark)

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

    2012-01-01

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

  17. Politisk marketing

    DEFF Research Database (Denmark)

    Disciplinen politisk marketing er udbredt i mange vestlige lande. Imidlertid er kendskabet til politisk marketing i Danmark bemærkelsesværdigt lavt. I det lys er denne bog Politisk Marketing: Personer, Partier & Praksis den første bog i Danmark, som -ud fra marketing- indkredser de sidste mange års...... brudflader i dansk politik. Gennem ti bidrag fra forskere og praktikere udskraber forfatterne et DNA for feltet politisk marketing. Kort sagt kan du i denne bog finde svarene på: Hvad er politisk marketing? Hvordan har det udviklet sig? Og hvilke konsekvenser har dette fænomen for vælgere, partier og...

  18. Marketing fundamentals.

    Science.gov (United States)

    Redmond, W H

    2001-01-01

    This chapter outlines current marketing practice from a managerial perspective. The role of marketing within an organization is discussed in relation to efficiency and adaptation to changing environments. Fundamental terms and concepts are presented in an applied context. The implementation of marketing plans is organized around the four P's of marketing: product (or service), promotion (including advertising), place of delivery, and pricing. These are the tools with which marketers seek to better serve their clients and form the basis for competing with other organizations. Basic concepts of strategic relationship management are outlined. Lastly, alternate viewpoints on the role of advertising in healthcare markets are examined.

  19. Thermal Wave Imaging: Flying SPOT Camera.

    Science.gov (United States)

    Wang, Yiqian

    1993-01-01

    A novel "Flying Spot" infrared camera for nondestructive evaluation (NDE) and nondestructive characterization is presented. The camera scans the focal point of an unmodulated heating laser beam across the sample in a raster. The detector of the camera tracks the heating spot in the same raster, but with a time delay. The detector is thus looking at the "thermal wake" of the heating spot. The time delay between heating and detection is determined by the speed of the laser spot and the distance between it and the detector image. Since this time delay can be made arbitrarily small, the camera is capable of making thermal wave images of phenomena which occur on a very short time scale. In addition, because the heat source is a very small spot, the heat flow is fully three-dimensional. This makes the camera system sensitive to features, like tightly closed vertical cracks, which are invisible to imaging systems which employ full-field heating. A detailed theory which relates the temperature profile around the heating spot to the sample thermal properties is also described. The camera represents a potentially useful tool for measuring thermal diffusivities of materials by means of fitting the recorded temperature profiles to the theoretical curves with the diffusivity as a fitting parameter.

  20. To market, to market

    International Nuclear Information System (INIS)

    Lieberman, J.I.

    1992-01-01

    Senator Lieberman and three fellow members of Congress introduced the CO 2 Offset Policy Efficiency Act (COPE), which incorporates the use of marketable permits to reduce CO 2 emissions. For COPE to be fully effective, however, several key criteria must be met: (1) establishing initial baselines will be critical to ensure that emission reductions are credited properly; (2) accurate plant-by-plant monitoring must be in place to ensure that claimed reductions have actually occurred; (3) the program must include a strong enforcement provision to prevent evasion and to punish violators with substantial automatic fines. COPE imposes a sanction equal to roughly four times the estimated cost of offsets; the sanctions would be paid before enforcement proceedings commence. The urgency and complexity of global warming requires us to break with the past and develop new ways of delaying with pollution, Senator Lieberman feels by giving the market a chance to work on behalf of the environment, the sale of emission allowance will reduce CO 2 emissions in the most-efficient cost-effective way possible

  1. Modeling strategic investment decisions in spatial markets

    International Nuclear Information System (INIS)

    Lorenczik, Stefan; Malischek, Raimund

    2014-01-01

    Markets for natural resources and commodities are often oligopolistic. In these markets, production capacities are key for strategic interaction between the oligopolists. We analyze how different market structures influence oligopolistic capacity investments and thereby affect supply, prices and rents in spatial natural resource markets using mathematical programing models. The models comprise an investment period and a supply period in which players compete in quantities. We compare three models, one perfect competition and two Cournot models, in which the product is either traded through long-term contracts or on spot markets in the supply period. Tractability and practicality of the approach are demonstrated in an application to the international metallurgical coal market. Results may vary substantially between the different models. The metallurgical coal market has recently made progress in moving away from long-term contracts and more towards spot market-based trade. Based on our results, we conclude that this regime switch is likely to raise consumer rents but lower producer rents. The total welfare differs only negligibly.

  2. SPORT MARKETING

    OpenAIRE

    Omer Špirtović; Danilo Aćimović; Ahmet Međedović; Zoran Bogdanović

    2010-01-01

    Word „marketing“ comes from AngloSaxon linguistic domain and implies in a narrow sense the market. Under marketing, we consider certain process, which should create and solve relations of exchange between manufacturers on one side, and consumers on the other. Discussion about sport marketing implies its theoretical definition and generalization, and then its actual definition in sport environment. Sport marketing belongs to business function of sport organization and represents primaly an eco...

  3. Mobile marketing

    OpenAIRE

    KLEČKOVÁ, Zuzana

    2013-01-01

    The main aim of this thesis was to provide a comprehensive overview of the mobile marketing and analyze selected campaigns of Czech mobile marketing in comparison to world successful campaigns. The research contained studying of available literature about the theme to gain general knowledge about the issue. The theoretical part of the thesis contains predominantly various definitions of mobile marketing and its tools, advantages of these tools and some information about Mobile Marketing Assoc...

  4. RELIGIOUS MARKETING

    OpenAIRE

    Ariadna-Ioana JURAVLE (GAVRA); Constantin SASU; Geanina Constanța SPĂTARU (PRAVĂȚ)

    2016-01-01

    The purpose of this paper is to establish the conceptual delimitation of the term religious marketing. The term religious marketing has caused controversy. There are two currents: that of the theologians, on one hand and that of the marketers, on the other hand. The representatives of each current have their own view regarding the implementation of marketing into the religious sphere. The article concludes with the necessity to adapt the churches’ activities and the ways they must be presente...

  5. Rotterdam market prices are better than said to be. [Petroleum

    Energy Technology Data Exchange (ETDEWEB)

    Schiffer, H.W. (Bundesministerium fuer Wirtschaft, Bonn-Duisdorf (Germany, F.R.). Referat 3 C - Mineraloel)

    1980-06-01

    The Rotterdam market in some respects is particularly important for German oil supplies. In 1979, this center of spot trading in Western Europe handled 10 percent of the product supply to the German market. The spot trade also has a supply function, absorbing, for instance, seasonal variations of oil consumption or inaccurate consumption forecasts. The Rotterdam market exercises its balancing function by extreme price movements. In case of major excess capacities in the refinery sector and at times of thight supplies, the price is determined only by aspects of the market. However, the Rotterdam market also shows nervous overreactions to political events. The EEC Council of Ministers recently demanded more transparency of the mechanism of price formation in the Rotterdam market.

  6. The prerequisites for effective competition in restructured wholesale electricity markets

    International Nuclear Information System (INIS)

    Haas, R.; Auer, H.

    2006-01-01

    This paper argues that effective competition in reformed wholesale electricity markets can only be achieved if the following six prerequisites are met: (1) separation of the grid from generation and supply; (2) wholesale price deregulation; (3) sufficient transmission capacity for a competitive market and non-discriminating grid access; (4) excess generation capacity developed by a large number of competing generators; (5) an equilibrium relationship between short-term spot markets and the long-term financial instruments that marketers use to manage spot-market price volatility; (6) an essentially hands-off government policy that encompasses reduced oversight and privatization. The absence of any one of the first five conditions may result in an oligopoly or monopoly market whose economic performance does not meet the efficiency standards of a competently managed regulated electrical utility. (author)

  7. Unit root properties of crude oil spot and futures prices

    International Nuclear Information System (INIS)

    Maslyuk, Svetlana; Smyth, Russell

    2008-01-01

    In this article, we examine whether WTI and Brent crude oil spot and futures prices (at 1, 3 and 6 months to maturity) contain a unit root with one and two structural breaks, employing weekly data over the period 1991-2004. To realise this objective we employ Lagrange multiplier (LM) unit root tests with one and two endogenous structural breaks proposed by Lee and Strazicich [2003. Minimum Lagrange multiplier unit root test with two structural breaks. Review of Economics and Statistics, 85, 1082-1089; 2004. Minimum LM unit root test with one structural break. Working Paper no. 04-17, Department of Economics, Appalachian State University]. We find that each of the oil price series can be characterised as a random walk process and that the endogenous structural breaks are significant and meaningful in terms of events that have impacted on world oil markets. (author)

  8. Microbiological and biochemical changes in pearl spot (Etroplus suratensis Bloch) stored under modified atmospheres.

    Science.gov (United States)

    Lalitha, K V; Sonaji, E R; Manju, S; Jose, L; Gopal, T K S; Ravisankar, C N

    2005-01-01

    This study aimed to determine the effect of packaging [air, modified atmosphere (MA)] on microbial growth, sensory and chemical parameters and also on shelf life of fresh pearl spot (Etroplus suratensis Bloch) and on the selection of microbial association. Fresh pearl spot (whole, gutted) were packaged under both 100% air and MAs (40%CO(2)/60% O(2), 50%CO(2)/50%O(2), 60% CO(2)/40%O(2), 70% CO(2)/30% O(2) and 40% CO(2)/30% O(2)/30% N(2)) and stored at 0 degrees C. Microbial growth (counts of total aerobic bacteria, H(2)S-producing bacteria, Lactic acid bacteria, Brochothrix thermosphacta, yeast and mould), chemical spoilage indicators (pH, total volatile basic nitrogen) and sensory characteristics were monitored. Microbial changes in Pearl spot packed under 100% air and 40% CO(2)/30%O(2)/30% N(2) were similar. The total volatile basic nitrogen values increased, but the values never exceeded the acceptability limit of 25 mg 100 g(-1). MA 60% CO(2) : 40%O(2) was found to be better with a shelf life of 21 days whereas air stored samples had a shelf-life of 12-14 days only. Storage of pearl spot under MAs 60% CO(2) : 40%O(2) is a promising method to extend shelf-life. Longer shelf life expands the market potential of pearl spot and reduces waste during distribution and retail display.

  9. Vertical integration and market power: A model-based analysis of restructuring in the Korean electricity market

    International Nuclear Information System (INIS)

    Bunn, Derek W.; Martoccia, Maria; Ochoa, Patricia; Kim, Haein; Ahn, Nam-Sung; Yoon, Yong-Beom

    2010-01-01

    An agent-based simulation model is developed using computational learning to investigate the impact of vertical integration between electricity generators and retailers on market power in a competitive wholesale market setting. It is observed that if partial vertical integration creates some market foreclosure, whether this leads to an increase or decrease in market power is situation specific. A detailed application to the Korean market structure reveals this to be the case. We find that in various cases, whilst vertical integration generally reduces spot prices, it can increase or decrease the market power of other market generators, depending upon the market share and the technology segment of the market, which is integrated, as well as the market concentrations before and after the integration.

  10. Possible recombinogenic effect of caprolactam in the mammalian spot test.

    Science.gov (United States)

    Fahrig, R

    1989-11-01

    Tests of caprolactam in the mouse spot test showed that treatment with this compound increased the frequency of color spots among animals treated in utero. The nature of these spots suggests that caprolactam may induce spots through the induction of mitotic recombination.

  11. 7 CFR 28.423 - Middling Spotted Color.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 2 2010-01-01 2010-01-01 false Middling Spotted Color. 28.423 Section 28.423... REGULATIONS COTTON CLASSING, TESTING, AND STANDARDS Standards Spotted Cotton § 28.423 Middling Spotted Color. Middling Spotted Color is color which is within the range represented by a set of samples in the custody of...

  12. Border markets

    DEFF Research Database (Denmark)

    Walther, Olivier

    2014-01-01

    The objective of this issue of Articulo – Journal of Urban Research is to examine the characteristics of border markets in a comparative perspective. In this introductory paper, I first discuss what makes African border markets different from other markets, and examine several factors that explain...

  13. Marketing 101.

    Science.gov (United States)

    Henderson, Karla A.

    1997-01-01

    A marketing model for camps includes a mix of services, presentation, and communication elements that promote the virtues of camp, convince potential campers and their families of the benefits of camp, and successfully distinguish the camp from others. Includes resources related to marketing strategies, theme merchandise, and market trends…

  14. Service marketing

    Directory of Open Access Journals (Sweden)

    Babić-Hodović Vesna

    2002-01-01

    Full Text Available Development of postindustrial society and services revolution created numerous changes in size of consumer demand, consumer reaction and priorities. Continuous change on the side of demand and offer must follow changes in marketing orientation. Leader in that change is services marketing which by knowing services range and all the changes builds a new concept called Relationship Marketing.

  15. Intraday Lead-Lag Relationship between Stock Index and Stock Index Futures Markets: Evidence from Turkey

    OpenAIRE

    Ersoy, Ersan; Çıtak, Levent

    2015-01-01

    In perfectly frictionless and rational markets, spot markets and futures markets should simultaneously reflect new information. However, due to market imperfections, one of these markets may reflect information faster than the other and therefore may lead to the other. This study examines the lead-lag relationship between stock index and stock index futures, in terms of both price and volatility, by using 5 minute data over 2007-2010 period. The findings of this study indicate that a stable l...

  16. Some models for electric power price clearing in liberalized market area

    International Nuclear Information System (INIS)

    Chogelja, Goran; Pavlov, Risto

    2001-01-01

    This paper presents some of the basic models for electrical energy price clearing in liberalized market area and competition on level of consumption and level of production. As an example the Amsterdam power exchange APX (spot market) is given and some of another types of markets and methodology for pricing are presented. In detal 'clearing pricing mechanism in day athead market' from the Amsterdam power exchange is presented as well as the methodology for market balancing and financial clearing. (Original)

  17. Interactions of a tradable green certificate market with a tradable permits market

    DEFF Research Database (Denmark)

    Morthorst, Poul Erik

    2001-01-01

    certificate market to promote the development of renewables. If these two instruments are brought into play at the same time, two separate markets with two individual targets will co-exist in a number of countries. With a focus on the green certificate market, this paper discusses how these two markets may...... in combination with a tradable permits bidding scheme. Emphasis is placed on analysing the pricing mechanisms in international trade at the green certificate and tradable permits market in relation to the value of the reductions in GHG-emissions actually achieved. The influence of the permits scheme on the spot...... market price of electricity is shown, and the benefits of trading green certificates compared to a domestic implementation of renewable technologies are discussed. The main conclusion is that only if a green certificate market is combined with a tradable permit scheme based on a bidding procedure...

  18. Twelve years of fireworks market surveillance in France

    OpenAIRE

    Branka , Ruddy

    2012-01-01

    International audience; In the view of market surveillance, more than 4400 fireworks have been taken on the spot by sworn people or bought on the market in France since 1999 for inspection purposes. This paper presents the market surveillance sampling evolution during twelve years, carried out by the PYRO unit of the Accidental Risks Division of INERIS as testing body ; the related measures implemented : additional audits in importer plants, interlaboratory tests for guarantying the reliabili...

  19. The Effects of Currency Futures Trading on Turkish Currency Market

    OpenAIRE

    Arif Oduncu

    2011-01-01

    In this article, the impact of the introduction of currency futures trading on the volatility of the underlying currency market for Turkey is studied. Analyzing the data, following results are obtained. First, the results suggest that the introduction of futures trading has decreased the volatility of Turkish currency market. Second, the results show that futures trading increases the speed at which information is impounded into spot market prices. Third, the asymmetric responses of volatilit...

  20. Strategic Generation Capacity Choice under Demand Uncertainty : Analysis of Nash Equilibria in Electricity Markets

    NARCIS (Netherlands)

    Gürkan, G.; Ozdemir, O.; Smeers, Y.

    2013-01-01

    Abstract: We analyze a two-stage game of strategic firms facing uncertain demand and exerting market power in decentralized electricity markets. These firms choose their generation capacities at the first stage while anticipating a perfectly competitive future electricity spot market outcome at the

  1. Marketization Revisited

    DEFF Research Database (Denmark)

    Hansen, Morten Balle; Lindholst, Andrej Christian

    2016-01-01

    Purpose: The purpose of this introduction article to the IJPSM special issue on marketization is to clarify the conceptual foundations of marketization as a phenomenon within the public sector and to gauge current marketization trends on the basis of the seven articles in the special issue. Design/methodology/approach......: Conceptual clarification and cross-cutting review of seven articles analysing marketization in six countries in three policy areas at the level of local government. Findings: Four ideal-type models are deduced: Quasi-markets, involving both provider competition and free choice for users; Classic contracting...

  2. MARKETING CHANNELS

    Directory of Open Access Journals (Sweden)

    Ljiljana Stošić Mihajlović

    2014-07-01

    Full Text Available Marketing channel is a set of entities and institutions, completion of distribution and marketing activities, attend the efficient and effective networking of producers and consumers. Marketing channels include the total flows of goods, money and information taking place between the institutions in the system of marketing, establishing a connection between them. The functions of the exchange, the physical supply and service activities, inherent in the system of marketing and trade. They represent paths which products and services are moving after the production, which will ultimately end up buying and eating by the user.

  3. Integration project of regional markets in Europe (European directive); Proyecto de integracion de mercados regionales en Europa (Directva europea)

    Energy Technology Data Exchange (ETDEWEB)

    Gonzalez Fernandez-Castaneda, J. J.

    2010-07-01

    The article presents the current situation of the Day-Ahead electricity markets in the different countries and Regions along West Europe. It describes the different possibilities applied to congestion management in the borders between countries and price areas, and the options employed to couple Day-ahead markets to form regional markets in Europe. Finally, it presents the initiative to Price couple Regional markets (PCR) that is being developed by Nord pool spot, EPEX Spot and OMEL with the objective to advance towards the integration of the markets that they operate in the internal Electricity Market. (Author)

  4. Capacity Markets and Market Stability

    International Nuclear Information System (INIS)

    Stauffer, Hoff

    2006-01-01

    The good news is that market stability can be achieved through a combination of longer-term contracts, auctions for far enough in the future to permit new entry, a capacity management system, and a demand curve. The bad news is that if and when stable capacity markets are designed, the markets may seem to be relatively close to where we started - with integrated resource planning. Market ideologues will find this anathema. (author)

  5. World market of marketing research

    Directory of Open Access Journals (Sweden)

    Samuels John

    2002-01-01

    Full Text Available The value of the total world market market research in the year 2001 was US$15,890 million, a 2.8% increase on the previous year. This is the first of several articles to be published in Research World on the results from ESOMAR's latest annual study on the market research sector worldwide

  6. Market formation and market selection

    NARCIS (Netherlands)

    van Raalte, C.L.J.P.

    1996-01-01

    The organization of markets is an important field of inquiry in modern economic theory. This monograph analyzes models which consider the formation and selection of markets. In these models, markets are organized by middlemen and used by traders. In Part I of the monograph, coalitions of middlemen

  7. Market Survey Turkey. Electricity Market

    International Nuclear Information System (INIS)

    2008-12-01

    The present market survey presents the Turkish power market and derives business opportunities and prospects for Dutch trade and industry. This market survey has been carried out for the following four, from time to time overlapping, sectors that have been identified by EVD as potential opportunities for Dutch small and medium-sized enterprises (SME): renewable energy, energy efficiency, electricity generation, electricity distribution

  8. 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.

  9. Market values summary/October market review/current market data

    International Nuclear Information System (INIS)

    Anon.

    1994-01-01

    This article is the October uranium market summary. During this period, volume increased to 2.2 Mlb U3O8 on the spot concentrates market. The unrestricted and restricted exchange values remained steady at $7.00 and $9.05 per pound U3O8 respectively. There were two UF6 deals during this period, and with supply more than adequate to meet the demand, the restricted UF6 price remained unchanged at $29.00 per kgU as UF6. The unrestricted value increased slightly to $24.50. The conversion value was unchanged, and the enrichment services market/prices weakened. Both active supply and demand decreased during this period

  10. Applying mathematical finance tools to the competitive Nordic electricity market

    International Nuclear Information System (INIS)

    Vehvilaeinen, I.

    2004-01-01

    This thesis models competitive electricity markets using the methods of mathematical finance. Fundamental problems of finance are market price modelling, derivative pricing, and optimal portfolio selection. The same questions arise in competitive electricity markets. The thesis presents an electricity spot price model based on the fundamental stochastic factors that affect electricity prices. The resulting price model has sound economic foundations, is able to explain spot market price movements, and offers a computationally efficient way of simulating spot prices. The thesis shows that the connection between spot prices and electricity forward prices is nontrivial because electricity is a commodity that must be consumed immediately. Consequently, forward prices of different times are based on the supply-demand conditions at those times. This thesis introduces a statistical model that captures the main characteristics of observed forward price movements. The thesis presents the pricing problems relating to the common Nordic electricity derivatives, as well as the pricing relations between electricity derivatives. The special characteristics of electricity make spot electricity market incomplete. The thesis assumes the existence of a risk-neutral martingale measure so that formal pricing results can be obtained. Some concepts introduced in financial markets are directly usable in the electricity markets. The risk management application in this thesis uses a static optimal portfolio selection framework where Monte Carlo simulation provides quantitative results. The application of mathematical finance requires careful consideration of the special characteristics of the electricity markets. Economic theory and reasoning have to be taken into account when constructing financial models in competitive electricity markets. (orig.)

  11. Applying mathematical finance tools to the competitive Nordic electricity market

    Energy Technology Data Exchange (ETDEWEB)

    Vehvilaeinen, I.

    2004-07-01

    This thesis models competitive electricity markets using the methods of mathematical finance. Fundamental problems of finance are market price modelling, derivative pricing, and optimal portfolio selection. The same questions arise in competitive electricity markets. The thesis presents an electricity spot price model based on the fundamental stochastic factors that affect electricity prices. The resulting price model has sound economic foundations, is able to explain spot market price movements, and offers a computationally efficient way of simulating spot prices. The thesis shows that the connection between spot prices and electricity forward prices is nontrivial because electricity is a commodity that must be consumed immediately. Consequently, forward prices of different times are based on the supply-demand conditions at those times. This thesis introduces a statistical model that captures the main characteristics of observed forward price movements. The thesis presents the pricing problems relating to the common Nordic electricity derivatives, as well as the pricing relations between electricity derivatives. The special characteristics of electricity make spot electricity market incomplete. The thesis assumes the existence of a risk-neutral martingale measure so that formal pricing results can be obtained. Some concepts introduced in financial markets are directly usable in the electricity markets. The risk management application in this thesis uses a static optimal portfolio selection framework where Monte Carlo simulation provides quantitative results. The application of mathematical finance requires careful consideration of the special characteristics of the electricity markets. Economic theory and reasoning have to be taken into account when constructing financial models in competitive electricity markets. (orig.)

  12. Tests of fixity of the Indo-Atlantic hot spots relative to Pacific hot spots

    Science.gov (United States)

    Koivisto, Emilia A.; Andrews, David L.; Gordon, Richard G.

    2014-01-01

    Rates of inter-hot spot motion have been debated for decades. Herein we present updated predictions for the tracks of the Tristan da Cunha, Réunion, and Iceland hot spots assuming them to be fixed relative to Pacific hot spots. Uncertainties in Pacific hot spot rotations, which include uncertainties in the current locations of hot spots of 100-200 km, are combined with uncertainties in relative plate motions accumulated through the plate circuit to obtain the final uncertainty in the predicted positions (including uncertainties of 150-200 km in the current locations of the Indo-Atlantic hot spots). Improvements to reconstruction methods, to relative plate reconstructions, to age dates along the tracks, and to the geomagnetic reversal timescale lead to significant changes from prior results. When compared with the observed tracks, the predicted tracks indicate nominal rates of motion of only 2-6 mm a-1 of these Indo-Atlantic hot spots relative to Pacific hot spots over the past 48 Ma. Within the uncertainties, the rates range from no motion to rates as high as 8-13 mm a-1. For reconstructions prior to 48 Ma B.P., however, the apparent rates of inter-hot spot motion are much larger, 46-55 ± 20 mm a-1, if the motion occurred entirely between 68 Ma B.P. and 48 Ma B.P. Either hot spots moved rapidly before 48 Ma B.P., and slowed drastically at ≈ 48 Ma B.P., or global plate circuits through Antarctica become less reliable as one goes increasingly further into the past. Most paleomagnetic data favor the latter explanation.

  13. Electricity Market Optimization of Heat Pump Portfolio

    DEFF Research Database (Denmark)

    Biegel, Benjamin; Andersen, Palle; Pedersen, Tom S.

    2013-01-01

    , the aggregator is able to place upward and downward regulating bids in the regulating power market based on the consumption flexibility. A simulation is carried out based on data from a Danish domestic heat pump project, historical spot prices, regulating power prices, and spot price predictions. The simulations......We consider a portfolio of domestic heat pumps controlled by an aggregator. The aggregator is able to adjust the consumption of the heat pumps without affecting the comfort in the houses and uses this ability to shift the main consumption to hours with low electricity prices. Further...

  14. Testing efficiency and unbiasedness in the oil market

    International Nuclear Information System (INIS)

    Moosa, I.A.; Al-Loughani, N.

    1994-03-01

    This paper presents some empirical evidence on speculative efficiency or unbiasedness in the crude oil futures market and some related issues. On the basis of monthly observations on spot and futures prices of the WTI crude oil, several tests are carried out on the relevant hypotheses. The evidence suggests that futures prices are neither unbiased nor efficient forecasters of spot prices. Furthermore, a GARCH-M(1,1) model reveals the existence of a time-varying risk premium. (author)

  15. Spotting Stellar Activity Cycles in Gaia Astrometry

    Science.gov (United States)

    Morris, Brett M.; Agol, Eric; Davenport, James R. A.; Hawley, Suzanne L.

    2018-03-01

    Astrometry from Gaia will measure the positions of stellar photometric centroids to unprecedented precision. We show that the precision of Gaia astrometry is sufficient to detect starspot-induced centroid jitter for nearby stars in the Tycho-Gaia Astrometric Solution (TGAS) sample with magnetic activity similar to the young G-star KIC 7174505 or the active M4 dwarf GJ 1243, but is insufficient to measure centroid jitter for stars with Sun-like spot distributions. We simulate Gaia observations of stars with 10 year activity cycles to search for evidence of activity cycles, and find that Gaia astrometry alone likely can not detect activity cycles for stars in the TGAS sample, even if they have spot distributions like KIC 7174505. We review the activity of the nearby low-mass stars in the TGAS sample for which we anticipate significant detections of spot-induced jitter.

  16. Use of derivative instruments to integrate renewable energies into the electricity market; Einsatz derivativer Instrumente zur Integration erneuerbarer Energien in den Strommarkt

    Energy Technology Data Exchange (ETDEWEB)

    Hartmann, Kilian [Hochschule Aschaffenburg (Germany). Fakultaet fuer Ingenieurwissenschaften; Nelles, Michael [Rostock Univ. (Germany). Agrar- und Umweltwissenschaftliche Fakultaet; Candra, Dodiek Ika

    2017-08-01

    The implementation of renewable energies to the electricity market is inefficient and expensive with current measures. Further these measures are prejudicial for the existing energy-only-market. The combination of fluctuating and controllable renewable powers in virtual power plants enables the marketing of this power as a derivate on the future market. Thus would relieve the spot market and stabilize pricing on both markets. Subsequently the renewable energy obligation will reduce and renewable energies could be marketed as secured power.

  17. Bidding in sequential electricity markets: The Nordic case

    DEFF Research Database (Denmark)

    Boomsma, Trine Krogh; Juul, Nina; Fleten, Stein-Erik

    2014-01-01

    For electricity market participants trading in sequential markets with differences in price levels and risk exposure, coordinated bidding is highly relevant. We consider a Nordic power producer who engages in the day-ahead spot market and the near real-time balancing market. In both markets......, clearing prices and dispatched volumes are unknown at the time of bidding. However, in the balancing market, the agent faces an additional risk of not being dispatched. Taking into account the sequential clearing of these markets and the gradual realization of market prices, we formulate the bidding...... problem as a multi-stage stochastic program. We investigate whether higher risk exposure can explain the hesitation, often observed in practice, to bid into the balancing market, even in cases of higher expected price levels. Furthermore, we quantify the gain from coordinated bidding, and by deriving...

  18. Spanish Power Exchange Market Concepts and Operating Experience

    International Nuclear Information System (INIS)

    Gonzalez, J. J.; Gamito, C.

    2000-01-01

    On January, 1st, 1998, the Spanish Electricity Market started operations. All generators, distributors, commercialization companies, and final consumers negotiate al power exchanges either through the spot market or using bilateral contracts. The Spanish Power Exchange Market Operator (Compania Operadora del Mercado Espanol de electricidad, OMEL) is responsible for the management of the market and for the economic settlement and billing of a transactions on the Power Exchange market, and the technical operational process handled by the System Operator. This paper describes in detail the Spanish market principles and the experience gathered through the design, installation and first two years of market operation. The paper presents also the Spanish market results from January 1998 up to December 1999 indicating each specific market results and aggregate statistics. (Author)

  19. Analysis of the efficiency of the Iberian power futures market

    International Nuclear Information System (INIS)

    Capitan Herraiz, Alvaro; Rodriguez Monroy, Carlos

    2009-01-01

    Market efficiency is analysed for the Iberian Power Futures Market and other European Power Markets, as well as other fuel markets through evaluation of ex-post Forward Risk Premium. The equilibrium price from compulsory call auctions for distribution companies within the framework of the Iberian Power Futures Market is not optimal for remuneration purposes as it seems to be slightly upward biased. In the period considered (August 2006-July 2008), monthly futures contracts behave similarly to quarterly contracts. Average risk premia have been positive in power and natural gas markets but negative in oil and coal markets. Different hypotheses are tested regarding increasing volatility with maturity and regarding Forward Risk Premium variations (decreasing with variance of spot prices during delivery period and increasing with skewness of spot prices during delivery period). Enlarged data sets are recommended for stronger test results. Energy markets tend to show limited levels of market efficiency. Regarding the emerging Iberian Power Futures Market, price efficiency is improved with market development of all the coexistent forward contracting mechanisms and with further integration of European Regional Electricity Markets. (author)

  20. Sweet Spot Supersymmetry and Composite Messengers

    International Nuclear Information System (INIS)

    Ibe, Masahiro; Kitano, Ryuichiro

    2007-01-01

    Sweet spot supersymmetry is a phenomenologically and cosmologically perfect framework to realize a supersymmetric world at short distance. We discuss a class of dynamical models of supersymmetry breaking and its mediation whose low-energy effective description falls into this framework. Hadron fields in the dynamical models play a role of the messengers of the supersymmetry breaking. As is always true in the models of the sweet spot supersymmetry, the messenger scale is predicted to be 10 5 GeV ∼ mess ∼ 10 GeV. Various values of the effective number of messenger fields N mess are possible depending on the choice of the gauge group

  1. Fast Keyword Spotting in Telephone Speech

    Directory of Open Access Journals (Sweden)

    J. Nouza

    2009-12-01

    Full Text Available In the paper, we present a system designed for detecting keywords in telephone speech. We focus not only on achieving high accuracy but also on very short processing time. The keyword spotting system can run in three modes: a an off-line mode requiring less than 0.1xRT, b an on-line mode with minimum (2 s latency, and c a repeated spotting mode, in which pre-computed values allow for additional acceleration. Its performance is evaluated on recordings of Czech spontaneous telephone speech using rather large and complex keyword lists.

  2. SPORT MARKETING

    Directory of Open Access Journals (Sweden)

    Omer Špirtović

    2010-03-01

    Full Text Available Word „marketing“ comes from AngloSaxon linguistic domain and implies in a narrow sense the market. Under marketing, we consider certain process, which should create and solve relations of exchange between manufacturers on one side, and consumers on the other. Discussion about sport marketing implies its theoretical definition and generalization, and then its actual definition in sport environment. Sport marketing belongs to business function of sport organization and represents primaly an economical process of connecting produktion (sport organizations with sportsmen and coaches and consumption (sport and other public. Sport marketing is the reality in sport today, and cannot be observed as fashionabless of capitalistic production. Today is almost impossible for sport organization to make business without its business part called sport marketing if it wants to survive in sport arena.

  3. Marketing automation

    Directory of Open Access Journals (Sweden)

    TODOR Raluca Dania

    2017-01-01

    Full Text Available The automation of the marketing process seems to be nowadays, the only solution to face the major changes brought by the fast evolution of technology and the continuous increase in supply and demand. In order to achieve the desired marketing results, businessis have to employ digital marketing and communication services. These services are efficient and measurable thanks to the marketing technology used to track, score and implement each campaign. Due to the technical progress, the marketing fragmentation, demand for customized products and services on one side and the need to achieve constructive dialogue with the customers, immediate and flexible response and the necessity to measure the investments and the results on the other side, the classical marketing approached had changed continue to improve substantially.

  4. Nordic market report 2009. Development in the Nordic electricity market

    Energy Technology Data Exchange (ETDEWEB)

    2009-07-15

    The Nordic region is characterized by a unique mix of generation sources where the high share of hydropower, representing virtually all of the Norwegian and nearly half of the Swedish generation capacity, has a great influence on the market. The level of precipitation is thus vital when calculating and analysing potential generation levels. In addition, the Nordic region has significantly colder winters than any other European country, influencing the consumption as many households are electrically heated. In 2008 the overall electricity consumption in the Nordic region was slightly higher - 1.6 per cent - than in 2007. During periods of peak consumption the Nordic power system proved sufficient to ensure security of supply without restrictions on consumption. The Nordic region operates almost entirely as one synchronous power system through transmission grid. The continuous reinforcement of the Nordic transmission grid has enabled an increased security of supply as well as a more efficient use of the generation capacity. Increasing cross border power flows strain the transmission lines and increases the demand for transmission capacity. Possible congestions occurring between the Nord Pool bidding areas are handled through market splitting, while internal congestions in general are handled through counter trade or by reducing interconnector capacity at the bidding area borders. The Nordic wholesale power market is a well functioning electricity market. Trade at Nord Pool has increased steadily since it was established in 1993. Although trading at Nord Pool Spot is voluntary, significantly more physical power is now traded on the power exchange than bilaterally - from 42 per cent of total Nordic consumption in 2004 to 76 per cent in 2008. During 2008 average spot prices at Nord Pool were considerably higher (approximately 60 per cent) than prices in 2007. The Nordic retail markets are essentially four separate markets, influenced by national differences, but work on

  5. Nordic market report 2009 : Development in the Nordic electricity market

    Energy Technology Data Exchange (ETDEWEB)

    2009-07-01

    The Nordic region is characterized by a unique mix of generation sources where the high share of hydropower, representing virtually all of the Norwegian and nearly half of the Swedish generation capacity, has a great influence on the market. The level of precipitation is thus vital when calculating and analysing potential generation levels. In addition, the Nordic region has significantly colder winters than any other European country, influencing the consumption as many households are electrically heated. In 2008 the overall electricity consumption in the Nordic region was slightly higher - 1.6 per cent - than in 2007. During periods of peak consumption the Nordic power system proved sufficient to ensure security of supply without restrictions on consumption. The Nordic region operates almost entirely as one synchronous power system through transmission grid. The continuous reinforcement of the Nordic transmission grid has enabled an increased security of supply as well as a more efficient use of the generation capacity. Increasing cross border power flows strain the transmission lines and increases the demand for transmission capacity. Possible congestions occurring between the Nord Pool bidding areas are handled through market splitting, while internal congestions in general are handled through counter trade or by reducing interconnector capacity at the bidding area borders. The Nordic wholesale power market is a well functioning electricity market. Trade at Nord Pool has increased steadily since it was established in 1993. Although trading at Nord Pool Spot is voluntary, significantly more physical power is now traded on the power exchange than bilaterally - from 42 per cent of total Nordic consumption in 2004 to 76 per cent in 2008. During 2008 average spot prices at Nord Pool were considerably higher (approximately 60 per cent) than prices in 2007. The Nordic retail markets are essentially four separate markets, influenced by national differences, but work on

  6. Affiliate marketing

    OpenAIRE

    Ureš, Michal

    2012-01-01

    This bachelor's thesis focuses on the topic of online affiliate marketing from the perspective of an internet entrepreneur. In the first, theoretical part, it characterizes the affiliate marketing, describes different, significant affiliate solutions in the Czech market and opportunities for their implementations. In the second, practical part, it concentrates mainly on an affiliate program of a company called GameLeader, s.r.o. It analyses expectations of the business from the implementation...

  7. Sport Marketing

    OpenAIRE

    Ekmekci, Ridvan; Ekmekçi, Aytul Yeter

    2009-01-01

    Abstract  Marketing which is entered to almost our whole life, now more than goods and services, became an important  concept of ideas, persons, institutions, events, and facilities. As a main activities of business co. marketing has an important place in sports industry. Recently, the development of special sport marketing strategies and the presentation of sport goods and services to consumers are gaining importance. Efforts of increasing income of sport clubs, because of sport organization...

  8. Content Marketing

    OpenAIRE

    Le, Duc

    2013-01-01

    The purpose of this thesis was to introduce the new trend in today’s marketing world: content marketing. It has been employed by many companies and organizations in the world and has been proven success even when it is still a fairly new topic. Five carefully selected theories of content marketing proposed by experts in the field has been collected, compared and displayed as originally and scientifically as possible in this thesis. The chosen theories provide a diversified perspectives of...

  9. Trade marketing

    OpenAIRE

    Khodl, Vojtěch

    2013-01-01

    The main objective of this thesis is to define the term "trade marketing" and evaluate its role within the Coca-Cola Hellenic Bottling Company. With the use of internal resources and relevant literature, I will describe the use of trade marketing from both theoretical and practical point of view. I will also introduce the Coca-Cola HBC and its position on the carbonated soft drinks market in the Czech republic.

  10. TRICARE Marketing

    Science.gov (United States)

    1999-10-21

    at four of the eight MTFs visited indicated that they believed marketing was the contractor’s responsibility. Roles and Responsibilities. With the...the MCSCs to explain what they believed TRICARE marketing meant. There was wide variation in the responses provided at the 28 sites visited. Several...luation ort TRICARE MARKETING Report Number 00-016 October 21, 1999 Office of the Inspector General Department of Defense DISTRIBUTION

  11. Online marketing

    OpenAIRE

    Zrůst, Daniel

    2013-01-01

    The aim of this thesis is to evaluate pay per click marketing as suitable marketing tool for promotion and distribution of a given product. The paper describes basic vocabulary related to PPC advertising, common metrics, tools used by online marketers, and logic of running PPC campaigns. The paper also tries to quantify impact of Internet on economies. The second part applies the theory to analysis of consumers' conversion path while searching online in common search engines where PPC marketi...

  12. Transitional–turbulent spots and turbulent–turbulent spots in boundary layers

    Science.gov (United States)

    Wu, Xiaohua; Moin, Parviz; Wallace, James M.; Skarda, Jinhie; Lozano-Durán, Adrián; Hickey, Jean-Pierre

    2017-01-01

    Two observations drawn from a thoroughly validated direct numerical simulation of the canonical spatially developing, zero-pressure gradient, smooth, flat-plate boundary layer are presented here. The first is that, for bypass transition in the narrow sense defined herein, we found that the transitional–turbulent spot inception mechanism is analogous to the secondary instability of boundary-layer natural transition, namely a spanwise vortex filament becomes a Λ vortex and then, a hairpin packet. Long streak meandering does occur but usually when a streak is infected by a nearby existing transitional–turbulent spot. Streak waviness and breakdown are, therefore, not the mechanisms for the inception of transitional–turbulent spots found here. Rather, they only facilitate the growth and spreading of existing transitional–turbulent spots. The second observation is the discovery, in the inner layer of the developed turbulent boundary layer, of what we call turbulent–turbulent spots. These turbulent–turbulent spots are dense concentrations of small-scale vortices with high swirling strength originating from hairpin packets. Although structurally quite similar to the transitional–turbulent spots, these turbulent–turbulent spots are generated locally in the fully turbulent environment, and they are persistent with a systematic variation of detection threshold level. They exert indentation, segmentation, and termination on the viscous sublayer streaks, and they coincide with local concentrations of high levels of Reynolds shear stress, enstrophy, and temperature fluctuations. The sublayer streaks seem to be passive and are often simply the rims of the indentation pockets arising from the turbulent–turbulent spots. PMID:28630304

  13. Transitional-turbulent spots and turbulent-turbulent spots in boundary layers.

    Science.gov (United States)

    Wu, Xiaohua; Moin, Parviz; Wallace, James M; Skarda, Jinhie; Lozano-Durán, Adrián; Hickey, Jean-Pierre

    2017-07-03

    Two observations drawn from a thoroughly validated direct numerical simulation of the canonical spatially developing, zero-pressure gradient, smooth, flat-plate boundary layer are presented here. The first is that, for bypass transition in the narrow sense defined herein, we found that the transitional-turbulent spot inception mechanism is analogous to the secondary instability of boundary-layer natural transition, namely a spanwise vortex filament becomes a [Formula: see text] vortex and then, a hairpin packet. Long streak meandering does occur but usually when a streak is infected by a nearby existing transitional-turbulent spot. Streak waviness and breakdown are, therefore, not the mechanisms for the inception of transitional-turbulent spots found here. Rather, they only facilitate the growth and spreading of existing transitional-turbulent spots. The second observation is the discovery, in the inner layer of the developed turbulent boundary layer, of what we call turbulent-turbulent spots. These turbulent-turbulent spots are dense concentrations of small-scale vortices with high swirling strength originating from hairpin packets. Although structurally quite similar to the transitional-turbulent spots, these turbulent-turbulent spots are generated locally in the fully turbulent environment, and they are persistent with a systematic variation of detection threshold level. They exert indentation, segmentation, and termination on the viscous sublayer streaks, and they coincide with local concentrations of high levels of Reynolds shear stress, enstrophy, and temperature fluctuations. The sublayer streaks seem to be passive and are often simply the rims of the indentation pockets arising from the turbulent-turbulent spots.

  14. Transitional-turbulent spots and turbulent-turbulent spots in boundary layers

    Science.gov (United States)

    Wu, Xiaohua; Moin, Parviz; Wallace, James M.; Skarda, Jinhie; Lozano-Durán, Adrián; Hickey, Jean-Pierre

    2017-07-01

    Two observations drawn from a thoroughly validated direct numerical simulation of the canonical spatially developing, zero-pressure gradient, smooth, flat-plate boundary layer are presented here. The first is that, for bypass transition in the narrow sense defined herein, we found that the transitional-turbulent spot inception mechanism is analogous to the secondary instability of boundary-layer natural transition, namely a spanwise vortex filament becomes a ΛΛ vortex and then, a hairpin packet. Long streak meandering does occur but usually when a streak is infected by a nearby existing transitional-turbulent spot. Streak waviness and breakdown are, therefore, not the mechanisms for the inception of transitional-turbulent spots found here. Rather, they only facilitate the growth and spreading of existing transitional-turbulent spots. The second observation is the discovery, in the inner layer of the developed turbulent boundary layer, of what we call turbulent-turbulent spots. These turbulent-turbulent spots are dense concentrations of small-scale vortices with high swirling strength originating from hairpin packets. Although structurally quite similar to the transitional-turbulent spots, these turbulent-turbulent spots are generated locally in the fully turbulent environment, and they are persistent with a systematic variation of detection threshold level. They exert indentation, segmentation, and termination on the viscous sublayer streaks, and they coincide with local concentrations of high levels of Reynolds shear stress, enstrophy, and temperature fluctuations. The sublayer streaks seem to be passive and are often simply the rims of the indentation pockets arising from the turbulent-turbulent spots.

  15. The role of price elastic demand in market power in the Nordic electricity markets

    International Nuclear Information System (INIS)

    Ravn, H.F.

    2004-01-01

    The paper discusses the modelling and analysis of market power and price elastic demand in the Nordic electricity spot market, Nordpool. The modelling of market power in the electricity sector must take into account a number of features that are specific to the electricity sector. First, electricity cannot be stored, but must be produced simultaneously with consumption. This aspect is, however, modified by the possibility of using hydro reservoirs as an indirect electricity storage. Second, the electricity transmission network plays an important role by breaking the market into several geographically separate sub-markets with different prices. Moreover, the specific bottlenecks may differ from hour to hour, according to the balance between supply and demand in each sub-market. Third, the demand side is presently characterised by very limited experience with hour to-hour-changes in electricity prices and very limited experience with short time adjustments of electricity consumption in response to changes in the electricity price. In the present paper three basic models for supply side competition on the Nordpool spot market will be presented, viz., perfect competition, Cournot competition and Supply Function Equilibrium. The models represent price and quantity settlement, including determination of price areas (bottle necks), in accordance with the way the Nordpool market functions. The models will incorporate electricity demand which is responsive to the electricity price. The paper describes the role of demand response for the determination of the electricity prices in each of the three supply side competition models. (au)

  16. Automatic demand response referred to electricity spot price. Demo description

    International Nuclear Information System (INIS)

    Grande, Ove S.; Livik, Klaus; Hals, Arne

    2006-05-01

    This report presents background, technical solution and results from a test project (Demo I) developed in the DRR Norway) project. Software and technology from two different vendors, APAS and Powel ASA, are used to demonstrate a scheme for Automatic Demand Response (ADR) referred to spot price level and a system for documentation of demand response and cost savings. Periods with shortage of energy supply and hardly any investments in new production capacity have turned focus towards the need for increased price elasticity on the demand side in the Nordic power market. The new technology for Automatic Meter Reading (AMR) and Remote Load Control (RLC) provides an opportunity to improve the direct market participation from the demand side by introducing automatic schemes that reduce the need for customer attention to hourly market prices. The low prioritized appliances, and not the total load, are in this report defined as the Demand Response Objects, based on the assumption that there is a limit for what the customers are willing to pay for different uses of electricity. Only disconnection of residential water heaters is included in the demo, due to practical limitations. The test was performed for a group of single family houses over a period of 2 months. All the houses were equipped with a radio controlled 'Ebox' unit attached to the water heater socket. The settlement and invoicing were based on hourly metered values (kWh/h), which means that the customer benefit is equivalent to the accumulated changes in the electricity cost per hour. The actual load reduction is documented by comparison between the real meter values for the period and a reference curve. The curves show significant response to the activated control in the morning hours. In the afternoon it is more difficult to register the response, probably due to 'disturbing' activities like cooking etc. Demo I shows that load reduction referred to spot price level can be done in a smooth way. The experiences

  17. Capacity investment and competition in decentralized electricity markets

    Energy Technology Data Exchange (ETDEWEB)

    Fehr, Nils-Henrik von der; Harbord, David Cameron

    1997-11-01

    With particular reference to the recently deregulated and market-based electricity industries in Norway, the UK and elsewhere the report analyses oligopoly entry and capacity investment decisions as a non-cooperative game in a decentralized electricity market. A two-stage game is considered, with multiple capacity types and uncertain demand, in which capacity decisions are made prior to spot-market, or price competition. Equilibrium outcomes for different pricing mechanisms or regulatory regimes are analysed. The following questions are dealt with in particular: Will industry capacity be sufficient to ensure adequate supply security? Does imperfect competition in the spot-market lead to an inefficient mix of base-load and peak-load technologies? How do different regulatory policies affect the market outcomes? 24 refs., 2 figs., 1 tab.

  18. Triggered tremor sweet spots in Alaska

    Science.gov (United States)

    Gomberg, Joan; Prejean, Stephanie

    2013-01-01

    To better understand what controls fault slip along plate boundaries, we have exploited the abundance of seismic and geodetic data available from the richly varied tectonic environments composing Alaska. A search for tremor triggered by 11 large earthquakes throughout all of seismically monitored Alaska reveals two tremor “sweet spots”—regions where large-amplitude seismic waves repeatedly triggered tremor between 2006 and 2012. The two sweet spots locate in very different tectonic environments—one just trenchward and between the Aleutian islands of Unalaska and Akutan and the other in central mainland Alaska. The Unalaska/Akutan spot corroborates previous evidence that the region is ripe for tremor, perhaps because it is located where plate-interface frictional properties transition between stick-slip and stably sliding in both the dip direction and laterally. The mainland sweet spot coincides with a region of complex and uncertain plate interactions, and where no slow slip events or major crustal faults have been noted previously. Analyses showed that larger triggering wave amplitudes, and perhaps lower frequencies (sweet spots also does not occur during slow slip events visually detectable in GPS data, although slow slip below the detection threshold may have facilitated tremor triggering.

  19. Hot-spot tectonics on Io

    Science.gov (United States)

    Mcewen, A. S.

    1985-01-01

    The thesis is that extensional tectonics and low-angle detachment faults probably occur on Io in association with the hot spots. These processes may occur on a much shorter timescale on Ion than on Earth, so that Io could be a natural laboratory for the study of thermotectonics. Furthermore, studies of heat and detachment in crustal extension on Earth and the other terresrial planets (especially Venus and Mars) may provide analogs to processes on Io. The geology of Io is dominated by volcanism and hot spots, most likely the result of tidal heating. Hot spots cover 1 to 2% of Io's surface, radiating at temperatures typically from 200 to 400 K, and occasionally up to 700K. Heat loss from the largest hot spots on Io, such as Loki Patera, is about 300 times the heat loss from Yellowstone, so a tremendous quantity of energy is available for volcanic and tectonic work. Active volcanism on Io results in a resurfacing rate as high as 10 cm per year, yet many structural features are apparent on the surface. Therefore, the tectonics must be highly active.

  20. Dramatic Change in Jupiter's Great Red Spot

    Science.gov (United States)

    Simon, A. A.; Wong, M. H.; Rogers, J. H.; Orton, G. S.; de Pater, I.; Asay-Davis, X.; Carlson, R. W.; Marcus, P. S.

    2015-01-01

    Jupiter's Great Red Spot (GRS) is one of its most distinct and enduring features, having been continuously observed since the 1800's. It currently spans the smallest latitude and longitude size ever recorded. Here we show analyses of 2014 Hubble spectral imaging data to study the color, structure and internal dynamics of this long-live storm.

  1. A green certificate market combined with a liberalised power market

    International Nuclear Information System (INIS)

    Morthorst, P.E.

    2003-01-01

    The development of renewable energy sources is expected to play an important role in the implementation of greenhouse gas (GHG) reduction targets in the EU member states. Among the highly relevant instruments for promoting the renewable development is the establishment of a market for tradable green certificates (TGCs) and markets based on TGCs or equivalent instruments are already established a number of places, among these Australia, Holland, England, Italy and Texas. Other countries are in the preparation phase. Sweden and Belgium (Flanders) are moving fast towards certificate-schemes, while although an early mover the Danish Parliament has postponed the introduction in Denmark until 2004-2005. The initiatives for establishing national TGC-markets are very much in line with the fixed targets for renewable development launched by the EU-commission. Thus, although the different countries have not chosen the same concept for establishing national TGC-markets, nevertheless there seems to be a good starting point for establishing an international one. This paper discusses the separate introduction of an international tradable green certificate market into a liberalised power market, especially in relation to cost-effectiveness and the possible contributions to national GHG-reduction strategies. The combination of a TGC and a liberalised power market encounters a number of problems in relation to achieving national GHG-reduction targets. One of the main results from a three-country case study described in the paper is that those countries most ambitious in renewable target setting by increasing their TGC-quotas will only partly be gaining the CO 2 -reduction benefits themselves. How large a share they gain themselves will depend only on the marginal conditions at the spot market

  2. Hyperspectral analysis of columbia spotted frog habitat

    Science.gov (United States)

    Shive, J.P.; Pilliod, D.S.; Peterson, C.R.

    2010-01-01

    Wildlife managers increasingly are using remotely sensed imagery to improve habitat delineations and sampling strategies. Advances in remote sensing technology, such as hyperspectral imagery, provide more information than previously was available with multispectral sensors. We evaluated accuracy of high-resolution hyperspectral image classifications to identify wetlands and wetland habitat features important for Columbia spotted frogs (Rana luteiventris) and compared the results to multispectral image classification and United States Geological Survey topographic maps. The study area spanned 3 lake basins in the Salmon River Mountains, Idaho, USA. Hyperspectral data were collected with an airborne sensor on 30 June 2002 and on 8 July 2006. A 12-year comprehensive ground survey of the study area for Columbia spotted frog reproduction served as validation for image classifications. Hyperspectral image classification accuracy of wetlands was high, with a producer's accuracy of 96 (44 wetlands) correctly classified with the 2002 data and 89 (41 wetlands) correctly classified with the 2006 data. We applied habitat-based rules to delineate breeding habitat from other wetlands, and successfully predicted 74 (14 wetlands) of known breeding wetlands for the Columbia spotted frog. Emergent sedge microhabitat classification showed promise for directly predicting Columbia spotted frog egg mass locations within a wetland by correctly identifying 72 (23 of 32) of known locations. Our study indicates hyperspectral imagery can be an effective tool for mapping spotted frog breeding habitat in the selected mountain basins. We conclude that this technique has potential for improving site selection for inventory and monitoring programs conducted across similar wetland habitat and can be a useful tool for delineating wildlife habitats. ?? 2010 The Wildlife Society.

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

    International Nuclear Information System (INIS)

    Skytte, K.

    1999-08-01

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

  4. Tourism Marketing.

    Science.gov (United States)

    North Carolina State Dept. of Public Instruction, Raleigh. Div. of Vocational Education.

    This document contains teacher materials for a 6-unit, 1-year distributive education course in marketing tourism offered in grades 11 and 12 in North Carolina. Although in general the material presented concerns marketing tourism anywhere, some of it is specifically related to tourism within North Carolina. A purpose statement explains the…

  5. Direct marketing

    Directory of Open Access Journals (Sweden)

    Čičić Muris

    2002-01-01

    Full Text Available Direct Marketing (DM is usually treated as unworthy activity, with actions at the edge of legality and activities minded cheating. Despite obvious problems regarding ethics and privacy threat, DM with its size, importance and role in a concept of integrated marketing communication deserves respect and sufficient analysis and review

  6. Marketing Management

    DEFF Research Database (Denmark)

    Wilke, Ricky

    2012-01-01

    Book review of: Christian Homburg, Sabine Kuester, Harley Krohmer, Marketing Management – A Contemporary Perspective, McGraw-Hill Higher Education, 2009......Book review of: Christian Homburg, Sabine Kuester, Harley Krohmer, Marketing Management – A Contemporary Perspective, McGraw-Hill Higher Education, 2009...

  7. Agricultural Marketing.

    Science.gov (United States)

    Helt, Lawrence; And Others

    Designed for use in farm business management adult programs, this marketing curriculum includes six teaching lessons and professional staff products. The following topics are covered in the lessons: introduction to marketing; interpretation of price/demand/supply cycles and fundamental outlook trends (carryover/projections/disappearance); farmers'…

  8. Art Markets

    NARCIS (Netherlands)

    P.A. Arora (Payal); F.R.R. Vermeylen (Filip)

    2013-01-01

    textabstractThe advent of digitization has had a profound impact on the art market and its institutions. In this chapter, we focus on the market for visual arts as it finds its expression in (among other) paintings, prints, drawings, photographs, sculpture and the like. These artistic disciplines

  9. Time Series Analysis of JEPX Spot Price with the Box-Jenkins Method

    Science.gov (United States)

    Nishikawa, Hiroshi

    Following the examples of other countries, in April 2005 Japan launched wholesale electric power exchange operations as a primary item of system reform in line with electric liberalization. Only two years have passed since the initiation of these operations. However, in the summer of 2005, the surge in market prices was evident, which suggested that certain measures should be taken to confront potential market risks. Establishing a useful system for forecasting market prices through the modeling of price fluctuations in the wholesale electric market became essential. Currently, various price models are being proposed. Taking both the limited amount of data and the model's purpose into consideration, this study adopted the univariate time series model. We conducted a time series analysis on the open price indexes in the JEPX spot market with the Box-Jenkins method. Since a seven-day cycle can be observed in the data, we adopted the seasonal ARIMA model. In accordance with the procedures of the Box-Jenkins method, we determined the degree of the model's polynomial using the autocorrelation and partial autocorrelation of the data and estimated the parameters of the model with the maximum likelihood method. We conducted a forecast on next day JEPX spot market prices with this time series model and examined its validity and utility as a forecasting tool. Price forecasts made with this model require only a small amount of data and will save substantial analysis work. Consequently, this method is expected to be widely used by market participants as the reference data for their bid pricing.

  10. Developing markets?

    DEFF Research Database (Denmark)

    Figueiredo, Bernardo; Chelekis, Jessica; DeBerry-Spence, Benet

    2015-01-01

    Situated at the intersection of markets and development, this commentary aims to promote a cross-fertilization of macromarketing and transformative consumer research (TCR) that directs attention to the sociocultural context and situational embeddedness of consumer experience and wellbeing, while...... acknowledging complex, systemic interdependencies between markets, marketing, and society. Based on a critical review of the meaning of development and an interrogation of various developmental discourses, the authors develop a conceptual framework that brings together issues of development, wellbeing......, and social inequalities. We suggest that these issues are better understooda nd addressed when examined via grounded investigations of the role of markets in shaping the management of resources, consumer agency, power inequalities and ethics. The use of markets as units of analysis may lead to further cross...

  11. Crossover marketing

    International Nuclear Information System (INIS)

    Heath, D.S.

    1998-01-01

    The impact of a deregulated energy market on customers in Ontario was discussed. In particular, the way in which Sunoco will deal with energy convergence and how Sunoco plans to generate interest among residential consumers in a deregulated and competitive energy market was described. Integrated energy solutions that offer customers value-added heating, ventilating and air conditioning products and services, inclusive of equipment sales, installation, repair, rental, leasing, financing, warranty, insurance and maintenance is the ultimate goal of Sunoco. The major retail issues in the energy market such as licensing of marketers, customer mobility, transfer of utility assets to affiliates, Ontario Hydro's market power in electrical generation, distribution of stranded debt charges, and a timetable for deregulation were also addressed. figs

  12. Analysis and modelling of the fuels european market; Analyse et modelisation des prix des produits petroliers combustibles en europe

    Energy Technology Data Exchange (ETDEWEB)

    Simon, V

    1999-04-01

    The research focus on the European fuel market prices referring to the Rotterdam and Genoa spot markets as well the German, Italian and French domestic markets. The thesis try to explain the impact of the London IPE future market on spot prices too. The mainstream research has demonstrated that co-integration seems to be the best theoretical approach to investigate the long run equilibrium relations. A particular attention will be devoted to the structural change in the econometric modelling on these equilibriums. A deep analysis of the main European petroleum products markets permit a better model specification concerning each of these markets. Further, we will test if any evidence of relations between spot and domestic prices could be confirmed. Finally, alternative scenarios will be depicted to forecast prices in the petroleum products markets. The objective is to observe the model reaction to changes crude oil prices. (author)

  13. Market integration among electricity markets and their major fuel source markets

    International Nuclear Information System (INIS)

    Mjelde, James W.; Bessler, David A.

    2009-01-01

    Dynamic price information flows among U.S. electricity wholesale spot prices and the prices of the major electricity generation fuel sources, natural gas, uranium, coal, and crude oil, are studied. Multivariate time series methods applied to weekly price data show that in contemporaneous time peak electricity prices move natural gas prices, which in turn influence crude oil. In the long run, price is discovered in the fuel sources market (except uranium), as these prices are weakly exogenous in a reduced rank regression representation of these energy prices.

  14. Wholesale electricity markets in Europe; Mercados Mayoristas de Electricidad en Europa

    Energy Technology Data Exchange (ETDEWEB)

    Rios, J. L.

    2010-07-01

    Electricity Wholesale Markets provide efficient operation of power stations, facilitate hedging instruments for generators and retailers and deliver price signals for new investments. Despite having a common regulatory framework at European level whose last aim is a single electricity market, Wholesale markets have been unevenly developed in each Member State. The evolution form a spot-based market towards a forward-based market needs a certain level of liquidity, transparency and regulatory stability. Interconnections are the key element to promote the integration of electricity markets. To facilitate this, European Regional Initiatives have pushed regulatory harmonization between countries and market coupling projects. (Author)

  15. Strategic marketing of innovations in the cosmetic market

    Directory of Open Access Journals (Sweden)

    O. S. Laskina

    2016-01-01

    Full Text Available The article is discusses the scientific and theoretical approaches to marketing of innovations in the cosmetic market in the strategic aspect. It is showing the development of the concept of strategic marketing innovation in the foreign and domestic scientific literature; the key concepts of marketing innovations is clarified; elements of the commercialization of innovative products is identified; the specificity of strategic marketing innovations in the cosmetic market in the Russian conditions is established; actual problems of innovative development and commercialization of innovations is identified; an assessment of the Russian market of innovations. The marketing of innovations – is a systematic methodological approach that combines the strategy and tactics of promotion goods (works, services, technologies, having substantially new properties, at the level of economic entities, it is proved. Under the innovative products offered to understand the implementation of the results of scientific and technological activities in the form of goods, works and services, which have an absolute or relative scientific and technological novelty and (or consumer value, going beyond the existing traditions. Innovative production is subdivided into two main categories: not commercialized and the commercialized production. Process of commercialization of innovative goods is considered as three-level system: the first level is the state innovation policy (macro-level; the second level – regional innovation policy (meso-level; the third level – commodity innovative policy of enterprise (micro-level. It was shown that the weak spots for Russian manufacturers of innovative products has been and remains insufficient elaboration of organizational and methodological approaches to strategic marketing of innovations in industry the as aspect, including in the sector of cosmetic goods. Recommendations for the development of marketing strategy of

  16. Nordic Market report 2010. Development in the Nordic Electricity Market

    Energy Technology Data Exchange (ETDEWEB)

    2010-07-15

    The Nordic region is characterized by a unique mix of generation sources, with a very high share of hydropower. Hydropower accounts for virtually all of the Norwegian and nearly half of the Swedish generation capacity, making the level of precipitation vital when calculating and analysing potential generation levels. Climatic conditions such as, significantly colder winters than any other European country also influence consumption in the Nordic region, as many households are electrically heated. Overall electricity consumption in the Nordic region in 2009 was marked by decreasing consumption in every market - from a decrease of 1,5% in Denmark to a decrease of 5,5% in Finland. The Nordic transmission grid connects almost the entire region into one synchronous power system enabling increased security of supply as well as a more efficient use of the generation capacity, but congestion occurs. Congestions between the Nord Pool bidding areas are handled through market splitting, while internal congestions in general are handled through counter trade or by reducing interconnector capacity at the bidding area borders. The key future challenge for transmission network operations both in the Nordic area, and as well on the European level will be to facilitate the functioning of the pan-European wholesale electricity markets. The Nordic wholesale power market is well functioning. The volume traded at Nord Pool in 2009 was about the same share of total consumption as that of 2008. Although trading at Nord Pool is voluntary, significantly more power is traded on the power exchange than bilaterally. During 2009 average spot prices at Nord Pool were lower than prices in 2008 due to both lower demand and generation costs for thermal power plants for most of 2009. The Nordic retail markets are essentially four separate markets, influenced by national differences, but work on integration has started. Throughout 2009 retail prices in the Nordic region were lower than in 2008

  17. Marketing is Dead! Long Live Marketing!

    OpenAIRE

    Marjanova Jovanov, Tamara

    2016-01-01

    The contents of the lectures included: Why marketing? Citizen, Consumer, Customer (Behavior) Who is the Father of Marketing? Some Antecedents of Marketing When Did Marketing Start? The Contributors of Marketing Where Did Marketing Start? Job Positions in Today’s Marketing Organization The Role of the Chief Marketing Officer Four Different CEO Views of Marketing Reality – Truth – Challenge (Why Can’t We Make It?) The Strong and Steady Progress of Marketi...

  18. Plasma spot welding of ferritic stainless steels

    Directory of Open Access Journals (Sweden)

    Lešnjak, A.

    2002-06-01

    Full Text Available Plasma spot welding of ferritic stainless steels is studied. The study was focused on welding parameters, plasma and shielding gases and the optimum welding equipment. Plasma-spot welded overlap joints on a 0.8 mm thick ferritic stainless steel sheet were subjected to a visual examination and mechanical testing in terms of tension-shear strength. Several macro specimens were prepared. Plasma spot welding is suitable to use the same gas as shielding gas and as plasma gas, i.e., a 98 % Ar/2 % H 2 gas mixture. Tension-shear strength of plasma-spot welded joints was compared to that of resistance-spot welded joints. It was found that the resistance welded joints withstand a somewhat stronger load than the plasma welded joints due to a larger weld spot diameter of the former. Strength of both types of welded joints is approximately the same.

    El artículo describe el proceso de soldeo de aceros inoxidables ferríticos por puntos con plasma. La investigación se centró en el establecimiento de los parámetros óptimos de la soldadura, la definición del gas de plasma y de protección más adecuado, así como del equipo óptimo para la realización de la soldadura. Las uniones de láminas de aceros inoxidables ferríticos de 0,8 mm de espesor, soldadas a solape por puntos con plasma, se inspeccionaron visualmente y se ensayaron mecánicamente mediante el ensayo de cizalladura por tracción. Se realizaron macro pulidos. Los resultados de la investigación demostraron que la solución más adecuada para el soldeo por puntos con plasma es elegir el mismo gas de plasma que de protección. Es decir, una mezcla de 98 % de argón y 2 % de hidrógeno. La resistencia a la cizalladura por tracción de las uniones soldadas por puntos con plasma fue comparada con la resistencia de las uniones soldadas por resistencia por puntos. Se llegó a la conclusión de que las uniones soldadas por resistencia soportan una carga algo mayor que la uniones

  19. Turbulent Region Near Jupiter's Great Red Spot

    Science.gov (United States)

    1997-01-01

    True and false color mosaics of the turbulent region west of Jupiter's Great Red Spot. The Great Red Spot is on the planetary limb on the right hand side of each mosaic. The region west (left) of the Great Red Spot is characterized by large, turbulent structures that rapidly change in appearance. The turbulence results from the collision of a westward jet that is deflected northward by the Great Red Spot into a higher latitude eastward jet. The large eddies nearest to the Great Red Spot are bright, suggesting that convection and cloud formation are active there.The top mosaic combines the violet (410 nanometers) and near infrared continuum (756 nanometers) filter images to create a mosaic similar to how Jupiter would appear to human eyes. Differences in coloration are due to the composition and abundance of trace chemicals in Jupiter's atmosphere. The lower mosaic uses the Galileo imaging camera's three near-infrared (invisible) wavelengths (756 nanometers, 727 nanometers, and 889 nanometers displayed in red, green, and blue) to show variations in cloud height and thickness. Light blue clouds are high and thin, reddish clouds are deep, and white clouds are high and thick. Purple most likely represents a high haze overlying a clear deep atmosphere. Galileo is the first spacecraft to distinguish cloud layers on Jupiter.The mosaic is centered at 16.5 degrees south planetocentric latitude and 85 degrees west longitude. The north-south dimension of the Great Red Spot is approximately 11,000 kilometers. The smallest resolved features are tens of kilometers in size. North is at the top of the picture. The images used were taken on June 26, 1997 at a range of 1.2 million kilometers (1.05 million miles) by the Solid State Imaging (SSI) system on NASA's Galileo spacecraft.The Jet Propulsion Laboratory, Pasadena, CA manages the Galileo mission for NASA's Office of Space Science, Washington, DC. JPL is an operating division of California Institute of Technology (Caltech

  20. SPOT: How good for geology? A comparison with LANDSAT MSS

    Science.gov (United States)

    Sesoeren, A.

    1986-12-01

    Geological interpretation possibilities of SPOT MSS and LANDSAT MSS positive prints enlarged to the same scale were compared, using as a test area part of the Jebel Amour (Algeria). The SPOT imagery offers many advantages, filling the gap between remote sensing from space and aerial photography. The best results by visual interpretation are obtained in combining SPOT for the required details with LANDSAT for the synoptic veiw. Further improvements are expected from the use of SPOT stereo-pairs.

  1. Spotted-Leaf Mutants of Rice (Oryza sativa

    Directory of Open Access Journals (Sweden)

    Qi-na HUANG

    2010-12-01

    Full Text Available Many rice spotted-leaf (spl mutants are ideal sources for understanding the mechanisms involved in blast resistance, bacterial blight resistance and programmed cell death in plants. The genetic controls of 50 spotted-leaf mutants in rice have been characterized and a few spotted-leaf genes have been isolated as well. This article reviews the origin, genetic modes, isolation and characterization of spotted-leaf genes responsible for their phenotypes, and their resistance responses to main rice diseases.

  2. Four essays on market power in energy economics

    Energy Technology Data Exchange (ETDEWEB)

    Hansen, Petter Vegard

    2008-07-01

    Market power in energy markets is discussed intensively in both academic and public arenas. There has been an intense energy debate on market power at least since the Organization of Petroleum Exporting Countries (OPEC) exercised its market power and caused the 'oil crisis' of the 1970s, and again following the deregulation of electricity markets at the beginning of the 1990s. However, this debate is not new. In 1911, for example, the US Supreme Court divided Standard Oil into 34 separate companies using antitrust law. With increasing energy prices and the ongoing process of liberalization of electricity markets throughout the world, the topic is still relevant for future markets. The four essays in this dissertation discuss specific aspects of market power in energy markets. The first essay concerns the crude oil market, and the remaining three essays relate to market power in the Nordic and Norwegian electricity markets. In the first essay, a multi-equation dynamic econometric model tests whether the behaviour of OPEC, as a whole or as different subgroups, is consistent with the behaviour of dominant producers in the world crude oil market. The second essay is a theoretical work that introduces uncertainty in inflow to the discussion of market power in hydropower markets by analysing the effects of uncertainty in inflow on market performance under alternative assumptions about market structure. In the third essay, high-frequency data are used to analyse how price signals from the spot market affect end-user demand in the Norwegian and Swedish electricity markets. Finally, in the fourth essay, retailer and household behaviour in the Norwegian electricity market are analysed using detailed information on prices and other market characteristics. In the following section, I provide highlights from a general discussion of market power in order to set the essays included in this dissertation in context. (Author). refs., figs., tabs

  3. Mobile Marketing

    OpenAIRE

    竹安, 数博; Takeyasu, Kazuhiro

    2005-01-01

    This article deals with one of the modern trends in marketing communication, which is mobile marketing. Towards the end of 2008, several projects which use mobile phones for target marketing communication were launched. Commercial SMS´s are sent on the base of agreement or registration of the consumers on special websites, for example hellomobil.cz. The benefit for the consumers is the bonus which can have more forms - not only sending money to the account, free SMS´s/MMS´s and minutes but al...

  4. Mobile Marketing

    OpenAIRE

    Luengo Cascudo, Alberto

    2010-01-01

    El principal objetivo de este proyecto es explicar y entender la importancia del Mobile Marketing como nueva herramienta de negocio en el Marketing empresarial. Para ello, el primer objetivo es entender los dos factores que para mí son la clave de su importancia: la evolución del entorno tecnológico y el cambio en los hábitos del consumidor. Debido a la novedad de esta nueva forma de Marketing y al hecho de que está en constante definición, es básico exponer de la forma más cla...

  5. Marketing Trujillano

    OpenAIRE

    Zárate Aguilar, Jaime; Zárate Aguilar, Jaime; Zárate Aguilar, Jaime; Zárate Aguilar, Jaime

    2013-01-01

    El libro “Marketing Trujillano”, está compuesto principalmente por catorce casos, vinculados todos con la actividad de marketing en la Provincia de Trujillo, Perú. La variedad de problemáticas abarcadas en los casos, se vincula con diferentes palabras clave de la disciplina, tales como: estrategias de marketing, análisis de fuerzas competitivas, etc. El artículo analiza características funcionales del texto y presenta estrategias generales de solución de los casos, elaboradas para gar...

  6. Do regulatory mechanisms promote competition and mitigate market power? Evidence from Spanish electricity market

    International Nuclear Information System (INIS)

    Moutinho, Victor; Moreira, António C.; Mota, Jorge

    2014-01-01

    This paper estimates the relationships between bidding quantities, marginal cost and market power measures in the Spanish wholesale electricity market for two different regulatory periods: 2002–2005 and 2006–2007. Using panel econometric techniques we find differences in the impacts on bidding strategies for both periods. Hence, the marginal cost and the market power measures affect bid and net quantities. The market power measures also suggest that the coefficient is consistently positive and highly significant for both periods. Moreover, the market power and marginal costs have mixed effects according to the models proposed for both periods. In addition, our results point to the effectiveness of the different effects of mitigating the market power in the Spanish electricity market. For the 2006–2007 period, the proposed causal relationships are partially validated by the cointegration results, which assumes there is a significant causality between the Lerner Index and the marginal cost. - Highlights: • Competition and regulation in the Spanish electricity market. • Net supplier and net demander behavior in the spot market. • Panel cointegration methods used: FMOLS, PMG, MG, DFE and DOLS. • The price cap regulation is effective in mitigating market power. • Market power and marginal cost have positive effects on bidding strategies

  7. Sowing rates for reforestation by the seed-spotting method

    Science.gov (United States)

    Gilbert H. Schubert; Harry A. Fowells

    1964-01-01

    Presents guides to determine the number of seeds to sow per spot and the number of spots required per acre to obtain acceptable stocking. Based on theoretical probabilities, these guides were found to be reasonably close to actual field results When the probability-of-success was at least 55 percent. To compensate for lower actual stocking, increase the number of spots...

  8. White Spot Syndrome Virus infection in Penaeus monodon is ...

    Indian Academy of Sciences (India)

    2013-11-06

    Nov 6, 2013 ... White Spot Syndrome Virus (WSSV) is a major pathogen in shrimp aquaculture, and its rampant spread has resulted in great economic loss. ... has been increasingly hampered by white spot syndrome disease caused by White Spot ..... metabolic proteins have additional roles in immunity and transcriptional ...

  9. Spot-Welding Gun With Pivoting Twin-Collet Assembly

    Science.gov (United States)

    Nguyen, Francis; Simpson, Gareth; Hoult, William S.

    1996-01-01

    Modified spot-welding gun includes pivoting twin-collet assembly that holds two spot-welding electrodes. Designed to weld highly conductive (30 percent gold) brazing-alloy foils to thin nickel alloy workpieces; also suitable for other spot-welding applications compatible with two-electrode configuration.

  10. Great red spot dependence on solar activity

    International Nuclear Information System (INIS)

    Schatten, K.H.

    1979-01-01

    A new inquiry has been made into the question of whether Jupiter's Great Red Spot shows a solar activity dependence. From 1892 to 1947 a clear correlation was present. A dearth of sightings in the seventeenth century, along with the Maunder Minimum, further supports the relation. An anticorrelation, however, from l948 to l967 removed support for such an effect. The old observations have reexamined and recent observations have also been studied. The author reexamines this difficult question and suggests a possible physical mechanism for a Sun-Jovian weather relation. Prinn and Lewis' conversion reaction of Phosphine gas to triclinic red phosphorous crystals is a reaction dependent upon solar radiation. It may explain the dependence found, as well as the striking appearance of the Great Red Spot in the UV

  11. Dynamically variable spot size laser system

    Science.gov (United States)

    Gradl, Paul R. (Inventor); Hurst, John F. (Inventor); Middleton, James R. (Inventor)

    2012-01-01

    A Dynamically Variable Spot Size (DVSS) laser system for bonding metal components includes an elongated housing containing a light entry aperture coupled to a laser beam transmission cable and a light exit aperture. A plurality of lenses contained within the housing focus a laser beam from the light entry aperture through the light exit aperture. The lenses may be dynamically adjusted to vary the spot size of the laser. A plurality of interoperable safety devices, including a manually depressible interlock switch, an internal proximity sensor, a remotely operated potentiometer, a remotely activated toggle and a power supply interlock, prevent activation of the laser and DVSS laser system if each safety device does not provide a closed circuit. The remotely operated potentiometer also provides continuous variability in laser energy output.

  12. Experimental and simulated strength of spot welds

    DEFF Research Database (Denmark)

    Nielsen, Chris Valentin; Bennedbæk, Rune A.K.; Larsen, Morten B.

    2014-01-01

    Weld strength testing of single spots in DP600 steel is presented for the three typical testing procedures, i.e. tensile-shear, cross-tension and peel testing. Spot welds are performed at two sets of welding parameters and strength testing under these conditions is presented by load......-elongation curves revealing the maximum load and the elongation at break. Welding and strength testing is simulated by SORPAS® 3D, which allows the two processes to be prepared in a combined simulation, such that the simulated welding properties are naturally applied to the simulation of strength testing. Besides...... the size and shape of the weld nugget, these properties include the new strength of the material in the weld and the heat affected zone based on the predicted hardness resulting from microstructural phase changes simulated during cooling of the weld before strength testing. Comparisons between overall...

  13. SPS remanent radiation the warm spots

    CERN Document Server

    Billen, R

    1998-01-01

    The remanent radiation in the SPS ring is measured after each operational period. We all know very well the "hot spots" in the dedicated regions for particle injection and extraction. So far, not a lot of attention has been paid to those regions where there are clear traces of radiation, without an obvious reason. From an operational point of view, these regions might be quite important, since they could reveal a specific problem. This paper will look into those "warm spots", their location in the SPS ring and the transverse plane in which the radiation originates. Some classification of typical problem classes is made, as well as hints to the possible origins of the radiation problems.

  14. Modeling and analysis of strategic forward contracting in transmission constrained power markets

    Energy Technology Data Exchange (ETDEWEB)

    Yu, C.W.; Chung, T.S. [Department of Electrical Engineering, The Hong Kong Polytechnic University, Hong Kong (China); Zhang, S.H.; Wang, X. [Department of Automation, Shanghai University, Shanghai 200072 (China)

    2010-03-15

    Taking the effects of transmission network into account, strategic forward contracting induced by the interaction of generation firms' strategies in the spot and forward markets is investigated. A two-stage game model is proposed to describe generation firms' strategic forward contracting and spot market competition. In the spot market, generation firms behave strategically by submitting bids at their nodes in a form of linear supply function (LSF) and there are arbitrageurs who buy and resell power at different nodes where price differences exceed the costs of transmission. The owner of the grid is assumed to ration limited transmission line capacity to maximize the value of the transmission services in the spot market. The Cournot-type competition is assumed for the strategic forward contract market. This two-stage model is formulated as an equilibrium problem with equilibrium constraints (EPEC); in which each firm's optimization problem in the forward market is a mathematical program with equilibrium constraints (MPEC) and parameter-dependent spot market equilibrium as the inner problem. A nonlinear complementarity method is employed to solve this EPEC model. (author)

  15. Modeling and analysis of strategic forward contracting in transmission constrained power markets

    International Nuclear Information System (INIS)

    Yu, C.W.; Chung, T.S.; Zhang, S.H.; Wang, X.

    2010-01-01

    Taking the effects of transmission network into account, strategic forward contracting induced by the interaction of generation firms' strategies in the spot and forward markets is investigated. A two-stage game model is proposed to describe generation firms' strategic forward contracting and spot market competition. In the spot market, generation firms behave strategically by submitting bids at their nodes in a form of linear supply function (LSF) and there are arbitrageurs who buy and resell power at different nodes where price differences exceed the costs of transmission. The owner of the grid is assumed to ration limited transmission line capacity to maximize the value of the transmission services in the spot market. The Cournot-type competition is assumed for the strategic forward contract market. This two-stage model is formulated as an equilibrium problem with equilibrium constraints (EPEC); in which each firm's optimization problem in the forward market is a mathematical program with equilibrium constraints (MPEC) and parameter-dependent spot market equilibrium as the inner problem. A nonlinear complementarity method is employed to solve this EPEC model. (author)

  16. Sustainable control of white spot disease

    DEFF Research Database (Denmark)

    Heinecke, Rasmus Demuth; Buchmann, Kurt

    White spot disease caused by the ciliate Ichthyophthirius multifiliis Fouquet, 1876 is a serious problem in freshwater aquaculture worldwide. This parasitosis is of frequent occurrence in both conventional earth pond fish farms and in fish farms using new high technology re-circulation systems...... all had significant influences on parasite survival. Strategic treatment using the environmentally friendly chemical sodium percarbonate in combination with continuous micro-filtering of the pond water is suggested for control and management of this parasitosis....

  17. Laser induced single spot oxidation of titanium

    Energy Technology Data Exchange (ETDEWEB)

    Jwad, Tahseen, E-mail: taj355@bham.ac.uk; Deng, Sunan; Butt, Haider; Dimov, S.

    2016-11-30

    Highlights: • A new high resolution laser induced oxidation (colouring) method is proposed (single spot oxidation). • The method is applied to control oxide films thicknesses and hence colours on titanium substrates in micro-scale. • The method enable imprinting high resolution coloured image on Ti substrate. • Optical and morphological periodic surface structures are also produced by an array of oxide spots using the proposed method. • Colour coding of two colours into one field is presented. - Abstract: Titanium oxides have a wide range of applications in industry, and they can be formed on pure titanium using different methods. Laser-induced oxidation is one of the most reliable methods due to its controllability and selectivity. Colour marking is one of the main applications of the oxidation process. However, the colourizing process based on laser scanning strategies is limited by the relative large processing area in comparison to the beam size. Single spot oxidation of titanium substrates is proposed in this research in order to increase the resolution of the processed area and also to address the requirements of potential new applications. The method is applied to produce oxide films with different thicknesses and hence colours on titanium substrates. High resolution colour image is imprinted on a sheet of pure titanium by converting its pixels’ colours into laser parameter settings. Optical and morphological periodic surface structures are also produced by an array of oxide spots and then analysed. Two colours have been coded into one field and the dependencies of the reflected colours on incident and azimuthal angles of the light are discussed. The findings are of interest to a range of application areas, as they can be used to imprint optical devices such as diffusers and Fresnel lenses on metallic surfaces as well as for colour marking.

  18. Laser induced single spot oxidation of titanium

    International Nuclear Information System (INIS)

    Jwad, Tahseen; Deng, Sunan; Butt, Haider; Dimov, S.

    2016-01-01

    Highlights: • A new high resolution laser induced oxidation (colouring) method is proposed (single spot oxidation). • The method is applied to control oxide films thicknesses and hence colours on titanium substrates in micro-scale. • The method enable imprinting high resolution coloured image on Ti substrate. • Optical and morphological periodic surface structures are also produced by an array of oxide spots using the proposed method. • Colour coding of two colours into one field is presented. - Abstract: Titanium oxides have a wide range of applications in industry, and they can be formed on pure titanium using different methods. Laser-induced oxidation is one of the most reliable methods due to its controllability and selectivity. Colour marking is one of the main applications of the oxidation process. However, the colourizing process based on laser scanning strategies is limited by the relative large processing area in comparison to the beam size. Single spot oxidation of titanium substrates is proposed in this research in order to increase the resolution of the processed area and also to address the requirements of potential new applications. The method is applied to produce oxide films with different thicknesses and hence colours on titanium substrates. High resolution colour image is imprinted on a sheet of pure titanium by converting its pixels’ colours into laser parameter settings. Optical and morphological periodic surface structures are also produced by an array of oxide spots and then analysed. Two colours have been coded into one field and the dependencies of the reflected colours on incident and azimuthal angles of the light are discussed. The findings are of interest to a range of application areas, as they can be used to imprint optical devices such as diffusers and Fresnel lenses on metallic surfaces as well as for colour marking.

  19. Heap hot spots visualization in Java

    OpenAIRE

    Mahdavi, Babak; Driesen, Karel

    2001-01-01

    Data memory (heap) management is a particularly important feature of the Java programming environment. The visualization of memory location in form of hot spots can help to see how the data cache is used during the execution of a program. The behavior of such executed program can be thus speculated. Through a series of experiments using Load and Store trace files, some pertinent aspect of data memory accessing, can be visualized, including the frequency of how often the Java virtual machine r...

  20. Forecasting European thermal coal spot prices

    Directory of Open Access Journals (Sweden)

    Alicja Krzemień

    2015-01-01

    Finally, in order to analyse the time series model performance a Generalized Regression Neural Network (GRNN was used and its performance compared against the whole AR(2 process. Empirical results obtained confirmed that there is no statistically significant difference between both methods. The GRNN analysis also allowed pointing out the main drivers that move the European Thermal Coal Spot prices: crude oil, USD/CNY change and supply side drivers.

  1. World oil and gas markets in 2005

    International Nuclear Information System (INIS)

    2006-01-01

    In front of insufficient production capacities, the petroleum and gas spot prices have won historical records in 2005. This paper analyzes this situation using the highlights of this exceptional year and concerning the producing countries (political situation), the oil and gas markets (exchange rates, demand, production capacity), the European quotations of petroleum products (automotive and domestic fuels), and the prices of petroleum products in France. (J.S.)

  2. The new natural gas futures market - is it efficient?

    International Nuclear Information System (INIS)

    Herbert, J.H.

    1993-01-01

    Aspects of the natural gas futures market are discussed. In particular, the efficiency of the natural gas futures market is evaluated using a regression equation. It is found that the market has behaved more like an inefficient market than an efficient one. A variety of tests are applied to the estimated equation. These tests suggest that the estimated equation provides a good summary of the relationship between spot and futures prices for the time period. In addition, the equation is found to produce accurate forecasts. (Author)

  3. DNA-nanostructure-assembly by sequential spotting

    Directory of Open Access Journals (Sweden)

    Breitenstein Michael

    2011-11-01

    Full Text Available Abstract Background The ability to create nanostructures with biomolecules is one of the key elements in nanobiotechnology. One of the problems is the expensive and mostly custom made equipment which is needed for their development. We intended to reduce material costs and aimed at miniaturization of the necessary tools that are essential for nanofabrication. Thus we combined the capabilities of molecular ink lithography with DNA-self-assembling capabilities to arrange DNA in an independent array which allows addressing molecules in nanoscale dimensions. Results For the construction of DNA based nanostructures a method is presented that allows an arrangement of DNA strands in such a way that they can form a grid that only depends on the spotted pattern of the anchor molecules. An atomic force microscope (AFM has been used for molecular ink lithography to generate small spots. The sequential spotting process allows the immobilization of several different functional biomolecules with a single AFM-tip. This grid which delivers specific addresses for the prepared DNA-strand serves as a two-dimensional anchor to arrange the sequence according to the pattern. Once the DNA-nanoarray has been formed, it can be functionalized by PNA (peptide nucleic acid to incorporate advanced structures. Conclusions The production of DNA-nanoarrays is a promising task for nanobiotechnology. The described method allows convenient and low cost preparation of nanoarrays. PNA can be used for complex functionalization purposes as well as a structural element.

  4. Mobile marketing

    OpenAIRE

    Gause, Matěj

    2012-01-01

    The goal of bachelor's thesis on the theme "Mobile marketing" is to outline its development and why is this new phenomen so important for all modern companies around the world. The work is not about simple description of mobile marketing media but it vividly informs about the latest trends and news from the world of mobile apps and games. It presents the most successful mobile apps which registered more than billion downloads and from their unique characteristics it unveils great potential of...

  5. Guerilla Marketing

    OpenAIRE

    Nufer, Gerd; Bender, Manuel

    2008-01-01

    Die Rezipienten sind gelangweilt von der heutigen Werbeuniformität. Die Aufmerksamkeit, die für die Absorption kommerziellen Botschaften aufgewendet wird, schwindet. Das Postulat nach neuen, innovativen Marketingformen lässt sich konstatieren. Dieser Forderung möchte das Konzept des Guerilla Marketings gerecht werden. Das Hauptaugenmerk des vorliegenden Beitrags liegt auf der Erarbeitung einer Charakterisierung dieser ungewöhnlichen Marketingstrategie sowie einer Einordnung in einen marketing...

  6. Superluminal Spot Pair Events in Astronomical Settings: Sweeping Beams

    Science.gov (United States)

    Nemiroff, Robert J.

    2015-02-01

    Sweeping beams of light can cast spots moving with superluminal speeds across scattering surfaces. Such faster-than-light speeds are well-known phenomena that do not violate special relativity. It is shown here that under certain circumstances, superluminal spot pair creation and annihilation events can occur that provide unique information to observers. These spot pair events are not particle pair events-they are the sudden creation or annihilation of a pair of relatively illuminated spots on a scattering surface. Real spot pair illumination events occur unambiguously on the scattering surface when spot speeds diverge, while virtual spot pair events are observer dependent and perceived only when real spot radial speeds cross the speed of light. Specifically, a virtual spot pair creation event will be observed when a real spot's speed toward the observer drops below c, while a virtual spot pair annihilation event will be observed when a real spot's radial speed away from the observer rises above c. Superluminal spot pair events might be found angularly, photometrically, or polarimetrically, and might carry useful geometry or distance information. Two example scenarios are briefly considered. The first is a beam swept across a scattering spherical object, exemplified by spots of light moving across Earth's Moon and pulsar companions. The second is a beam swept across a scattering planar wall or linear filament, exemplified by spots of light moving across variable nebulae including Hubble's Variable Nebula. In local cases where the sweeping beam can be controlled and repeated, a three-dimensional map of a target object can be constructed. Used tomographically, this imaging technique is fundamentally different from lens photography, radar, and conventional lidar.

  7. Market scope

    International Nuclear Information System (INIS)

    2002-01-01

    Nova Scotia's Energy Strategy is aimed at opening the electricity market to wholesale competition, allowing eligible wholesale customers (such as municipal distribution utilities) to buy their electricity from competitive sources. The Nova Scotia Electricity Marketplace Governance Committee (EMGC) is concerned that this will not promote long-term competition because these eligible customers form only a very small fraction (1.6 per cent) of the total electricity demand in the province. This report examines the possible extensions of competition beyond the minimum specified in the Energy Strategy. It also identifies approaches that the EMGC may consider, including other potential levels of competition and their associated issues. The report discussed the issue of implementing wholesale competition as it relates to unbundling of the transmission tariff from the cost of energy supply and from the cost of distribution in retail marketing. The stages of expanding the market scope were also described with reference to large industrial customers, medium industrial and large commercial customers, and small commercial and residential customers. The report states that it is unlikely that the transition to an open access transmission market will need to be reversed, as it is likely to be an essential component of any further development. The EMGC feels it could minimize future transition costs and promote future evolution of competition by recommending for an institutional and market structure that is compatible with a broader competitive market

  8. Design and analysis of electricity markets

    Science.gov (United States)

    Sioshansi, Ramteen Mehr

    Restructured competitive electricity markets rely on designing market-based mechanisms which can efficiently coordinate the power system and minimize the exercise of market power. This dissertation is a series of essays which develop and analyze models of restructured electricity markets. Chapter 2 studies the incentive properties of a co-optimized market for energy and reserves that pays reserved generators their implied opportunity cost---which is the difference between their stated energy cost and the market-clearing price for energy. By analyzing the market as a competitive direct revelation mechanism we examine the properties of efficient equilibria and demonstrate that generators have incentives to shade their stated costs below actual costs. We further demonstrate that the expected energy payments of our mechanism is less than that in a disjoint market for energy only. Chapter 3 is an empirical validation of a supply function equilibrium (SFE) model. By comparing theoretically optimal supply functions and actual generation offers into the Texas spot balancing market, we show the SFE to fit the actual behavior of the largest generators in market. This not only serves to validate the model, but also demonstrates the extent to which firms exercise market power. Chapters 4 and 5 examine equity, incentive, and efficiency issues in the design of non-convex commitment auctions. We demonstrate that different near-optimal solutions to a central unit commitment problem which have similar-sized optimality gaps will generally yield vastly different energy prices and payoffs to individual generators. Although solving the mixed integer program to optimality will overcome such issues, we show that this relies on achieving optimality of the commitment---which may not be tractable for large-scale problems within the allotted timeframe. We then simulate and compare a competitive benchmark for a market with centralized and self commitment in order to bound the efficiency

  9. What You Should Know About Carbon Markets

    Directory of Open Access Journals (Sweden)

    Maria Mansanet-Bataller

    2008-12-01

    Full Text Available Since the entry into force of the Kyoto Protocol, carbon trading has been in continuous expansion. In this paper, we review the origins of carbon trading in order to understand how carbon trading works in Europe and, specifically, the functioning of the European Union Emission Trading Scheme (EU ETS and the workings of several spot, futures and options markets where European Union Allowances are traded. As well, the linking of the EU ETS with the other United Nations carbon markets is also studied.

  10. Risk-minimisation in electricity markets

    DEFF Research Database (Denmark)

    Tegner, Martin; Ernstsen, Rune Ramsdal; Skajaa, Anders

    2017-01-01

    This paper analyses risk management of fixed price, unspecified consumption contracts in energy markets. We model the joint dynamics of the spot-price and the consumption of electricity, study expected loss minimisation for different loss measures, and derive optimal static hedge strategies based...... on forward contracts. The strategies are implemented empirically and compared to a benchmark strategy widely used by the industry. On 2012–2014 Nordic market data, the suggested hedges significantly outperform the benchmark: The realised cumulative profit-and-losses are greater for almost every single one.......5% of the fixed price....

  11. Modelling electricity forward markets by ambit fields

    DEFF Research Database (Denmark)

    Barndorff-Nielsen, Ole; Fred Espen Benth, Fred Espen; Veraart, Almut

    This paper proposes a new modelling framework for electricity forward markets, which is based on ambit fields. The new model can capture many of the stylised facts observed in energy markets. One of the main differences to the traditional models lies in the fact that we do not model the dynamics......, but the forward price directly, where we focus on models which are stationary in time. We give a detailed account on the probabilistic properties of the new model and we discuss martingale conditions and change of measure within the new model class. Also, we derive a model for the spot price which is obtained...... from the forward model through a limiting argument....

  12. Superluminal Sweeping Spot Pair Events in Astronomical Settings

    Science.gov (United States)

    Nemiroff, Robert J.

    2015-01-01

    Sweeping beams of light can cast spots that move superluminally across scattering surfaces. Such faster-than-light speeds are well-known phenomena that do not violate special relativity. It is shown that under certain circumstances, superluminal spot pair creation and annihilation events can occur that provide unique information to observers. These spot pair events are not particle pair events -- they are the sudden creation or annihilation of a pair of relatively illuminated spots on a scattering surface. Astronomical settings where superluminal spot pairs might be found include Earth's Moon, passing asteroids, pulsars, and variable nebula. Potentially recoverable information includes three dimensional imaging, relative geometric size factors, and distances.

  13. Traditional marketing vs. Internet marketing. A comparison

    OpenAIRE

    Varfan, Mona; Shima, Alfa

    2008-01-01

    Title: Traditional marketing vs. Internet marketing: A comparison Problem: Marketing is an important strategy for businesses and it contains numerous effective tools. Traditional marketing has been in use for many years and nowadays Internet has brought new ways of doing business for companies and that has affected marketing. What are the main differences between Internet marketing and traditional marketing? Which one of the two approaches contains the most used and effective marketing tools ...

  14. SPECULATIVE EFFICIENCY OF STOCK INDEX FUTURES MARKETS:AN ANALYSIS ON THE ASEAN MARKETS

    Directory of Open Access Journals (Sweden)

    Normas Awang

    2012-07-01

    Full Text Available The capital markets in emerging economies are undergoing rapid transformationdue to the advancement of technologicalinnovations and globalization of themarketplace. Thus, the risk managementmeasures are extremely importantthroughout the financial system. However,the scarcity of derivative instrumentssuch as futures and options in emergingmarkets, in addition to the failure togenerate liquidity, have made the emerging economies to be left behind in therecent development of the world capital markets. Whilethere are a great numberof earlier studies that analyse the efficiency of futures markets in differentcountries, there is a lack ofresearch that take intoaccount of the speculativeefficiency of futures markets which argues that futures prices are an unbiased forecast of the spot pricesas well as a crucial part offorecasting techniques. Thispaper aims to investigate the speculativeefficiency of stock index futures marketsin the ASEAN markets which comprises ofSingapore, Malaysia and Thailand byemploying an econometric time series dataanalysis ranging from January 2000 toDecember 2010.

  15. 7 CFR 28.414 - Strict Low Middling Light Spotted Color.

    Science.gov (United States)

    2010-01-01

    ... CONTAINER REGULATIONS COTTON CLASSING, TESTING, AND STANDARDS Standards Light Spotted Cotton § 28.414 Strict Low Middling Light Spotted Color. Strict Low Middling Light Spotted Color is color which in spot or...

  16. Time Resolved X-Ray Spot Size Diagnostic

    CERN Document Server

    Richardson, Roger; Falabella, Steven; Guethlein, Gary; Raymond, Brett; Weir, John

    2005-01-01

    A diagnostic was developed for the determination of temporal history of an X-ray spot. A pair of thin (0.5 mm) slits image the x-ray spot to a fast scintillator which is coupled to a fast detector, thus sampling a slice of the X-Ray spot. Two other scintillator/detectors are used to determine the position of the spot and total forward dose. The slit signal is normalized to the dose and the resulting signal is analyzed to get the spot size. The position information is used to compensate for small changes due to spot motion and misalignment. The time resolution of the diagnostic is about 1 ns and measures spots from 0.5 mm to over 3 mm. The theory and equations used to calculate spot size and position are presented, as well as data. The calculations assume a symmetric, Gaussian spot. The spot data is generated by the ETA II accelerator, a 2kA, 5.5 MeV, 60ns electron beam focused on a Tantalum target. The spot generated is typically about 1 mm FWHM. Comparisons are made to an X-ray pinhole camera which images th...

  17. Does the market maker stabilize the market?

    NARCIS (Netherlands)

    Zhu, M.; Chiarella, C.; He, X.Z.; Wang, D.

    2009-01-01

    The market maker plays an important role in price formation, but his/her behavior and stabilizing impact on the market are relatively unclear, in particular in speculative markets. This paper develops a financial market model that examines the impact on market stability of the market maker, who acts

  18. Independent power and cogeneration in Ontario's new competitive electricity market

    International Nuclear Information System (INIS)

    Barnstable, A.G.

    1999-01-01

    The factors influencing the initial market pricing in the early years of Ontario's new electricity market were discussed with particular insight on the potential for near term development of independent power and cogeneration. The major factors influencing prices include: (1) no increase in retail prices, (2) financial restructuring of Ontario Hydro, (3) the Market Power Mitigation Agreement, (4) tighter power plant emissions standards, and (5) an electricity supply and demand balance. Generation competition is not expected to influence market pricing in the early years of the new electricity market. Prices will instead reflect the restructuring decisions of the Ontario government. The decision to have Ontario Power Generation Inc. (OPGI) as a single generator for Ontario Hydro's generation assets will ensure that average spot market pricing in the early market years will be close to a 3.8 c/kWh revenue cap

  19. How did China's foreign exchange reform affect the efficiency of foreign exchange market?

    Science.gov (United States)

    Ning, Ye; Wang, Yiming; Su, Chi-wei

    2017-10-01

    This study compares the market efficiency of China's onshore and offshore foreign exchange markets before and after the foreign exchange reform on August 11, 2015. We use the multifractal detrended fluctuation analysis of the onshore and offshore RMB/USD spot exchange rate series as basis. We then find that the onshore foreign exchange market before the reform has the lowest market efficiency, which increased after the reform. The offshore foreign exchange market before the reform has the highest market efficiency, which dropped after the reform. This finding implies the increased efficiency of the onshore foreign exchange market and the loss of efficiency in the offshore foreign exchange market. We also find that the offshore foreign exchange market is more efficient than the onshore market and that the gap shrank after the reform. Changes in intervention of the People's Bank of China since the reform is a possible explanation for the changes in the efficiency of the foreign exchange market.

  20. Improved simulation method of automotive spot weld failure with an account of the mechanical properties of spot welds

    Science.gov (United States)

    Wu, H.; Meng, X. M.; Fang, R.; Huang, Y. F.; Zhan, S.

    2017-12-01

    In this paper, the microstructure and mechanical properties of spot weld were studied, the hardness of nugget and heat affected zone (HAZ) were also tested by metallographic microscope and microhardness tester. The strength of the spot weld with the different parts' area has been characterized. According to the experiments result, CAE model of spot weld with HAZ structure was established, and simulation results of different lap-shear CAE models were analyzed. The results show that the spot weld model which contained the HAZ has good performance and more suitable for engineering application in spot weld simulation.

  1. High-frequency data and the effectiveness of the spot exchange rate EUR/USD

    Directory of Open Access Journals (Sweden)

    Petr Zeman

    2013-01-01

    Full Text Available The boom of information technology in recent years significantly influenced the development of the financial markets. Financial markets have become accessible to the public, and increased demand for financial instruments is inevitably reflected in the advanced menu of securities dealers who currently offer a wide variety of investment in the underlying assets and through financial leverage allows investors to profit from tiny price changes of the underlying asset. Shortening of trading period and increasing the frequency of the trades clearly contributes to the growth of profits of securities dealers. The question remains whether this trading method offers the advantage to the investor himself, and whether the investor is able to take advantage of potential market inefficiencies to achieve above-average profits in the short term period. Therefore, this paper analyzes the behaviour of the spot exchange rate EUR/USD within a day, and through statistical tests examining the validity of the random walk hypothesis for the 5-minute, hourly, 4-hourly and daily changes in the spot exchange rate of the currency pair EUR/USD.

  2. AN INVESTIGATION OF SOME HEDGING STRATEGIES FOR CRUDE OIL MARKET

    Directory of Open Access Journals (Sweden)

    Andre Assis de Salles

    2013-01-01

    Full Text Available This paper examines the performance of bivariate volatility models for the crude oil spot and future returns of the WTI type barrel prices. Besides the volatility of spot and future crude oil barrel returns time series, the hedge ratio strategy is examined through the hedge effectiveness. Thus this study shows hedge strategies built using methodologies applied in the variance modelling of returns of crude oil prices in the spot and future markets, and covariance between these two market returns, which correspond to the inputs of the hedge strategy shown in this work. From the studied models the bivariate GARCH in a Diagonal VECH and BEKK representations was chosen, using three different models for the mean: a bivariate autoregressive, a vector autoregressive and a vector error correction. The methodologies used here take into consideration the denial of assumptions of homoscedasticity and normality for the return distributions making them more realistic.

  3. International Energy Market

    International Nuclear Information System (INIS)

    Doringoni, S.; Pontoni, F.

    2008-01-01

    The paper analyzes recent market trends in the oil and natural gas sector. For the latter, a focus on the European gas market is then presented, whose consumption has grown considerably in these last ten years. As for the oil sector this paper investigates the key elements that have shaped its market in these years. As for oil consumption, we show that in these last 15 years China, India and the Middle East are the main responsible for the increase in World consumption. On the other hand, European OECD Countries have consistently reduced (almost 9%) their oil demand. This is due both to the dematerialization of their economy and their significant improvements in energy efficiency. As for energy intensity, in fact, Europe by far is the most efficient region in the World. On the other hand, OPEC has drastically raised its share of total production: at present the cartel accounts for more than 40% of overall production. OPEC members were the only producers to meet World's needs as oil demand expanded. The difficulties of other producers to keep up with the demand originated in the nineties, when no investment in new production capacity was brought about due to low oil prices. In the end of 2008, anyway, recession has eased the situation: for the first time in fifteen years, demand has not grown, compared to 2007 consumption. Recession has also shrunk prices, which, as soon as the demand started decreasing, have collapsed by almost 70%. As for the gas sector, the paper focuses on the European market where, after ten years from the beginning of the liberalization process, competition is still missing. In particular, the paper discusses whether LNG can bring about the competition so desperately needed. Unlike investments in pipelines, those in the LNG chain present a much lower degree of specificity, since the importer is not physically tied with the producer; moreover, it is getting increasingly common that part of the plant capacity is made available for spot

  4. Competing in a deregulated market : what are we learning from the Alberta experience?

    International Nuclear Information System (INIS)

    Farrell, D.

    2002-01-01

    A history of the deregulation schedule in Alberta was presented. The spot market in the province opened in January 1996. What Albertans wanted from deregulation was a competitive power generation market, a liquid spot market, a liquid forward market, competitive retail market, a clear transmission policy, transparent pricing, and innovation. They got a competitive power generation market and a liquid spot market, but with few buyers and an unclear transmission policy with only medium transparency in prices. Innovation was seen in the form of small power and distributed generation such as wind energy. In 2001, the Alberta government stepped in to subsidize consumers because wholesale prices were trading at record highs. In 2002 wholesale prices collapsed. It was shown that prices have declined in Alberta as supply and demand came into balance. The Keephills Generating Plants 3 and 4 will have a large impact on the market in 2005. It was emphasized that new transmission would unlock additional potential market for Alberta generation. The paper presented viewgraphs showing existing generation capacity and the high Alberta prices following deregulation. It was noted that commodity cycles dominate growth plans in the electric power industry. The four generation markets in Alberta were identified. The lesson learned from past experience is that price signals will attract new generators to the market and that government leadership must be consistent. 4 tabs., 6 figs

  5. Postmodernist marketing

    Directory of Open Access Journals (Sweden)

    Biljana Radenković-Šošić

    2016-02-01

    Full Text Available The traits of postmodernist communication with consumers are based on the transmission of postmodernist concepts in the area of marketing and communication with consumers. The paper offers an overview of the basic semiological points of interpretation of commercial messages, especially the semiotic square pioneered by Jean-Marie Floch, as well as offering an analysis of commercial messages according to the most prominent traits of postmodernist marketing: creating the effect of hyperreality, fragmentary communication, and displacement of reality, bringing opposites together and accepting difference. The results of the analysis confirm the hypothesized high level of congruence of certain postmodernist traits of marketing with messages which emphasize the ludist and utopian values of products.

  6. Market Sociality

    DEFF Research Database (Denmark)

    Borch, Christian; Lange, Ann-Christina

    2017-01-01

    This article presents a critical systematic discussion of Shiller’s writings from the late 1970s to the present, as well as an examination of the social-psychological assumptions on which his work is built. We argue that Shiller’s work displays a tension between mimetic and anti-mimetic tendencies......, i.e. between understanding financial markets as captured by fads and fashions (mimesis), and at the same time understanding such markets on the basis of a notion of homo economicus (an essentially anti-mimetic figure). Identifying that tension not only sheds novel light on Shiller’s work, but also...... allows us to critically discuss Mirowski’s negative appraisal of Shiller’s behavioural finance programme. Further, we argue that the mimetic/anti-mimetic tension in Shiller’s work can equally be identified in a broader range of theories about financial markets, and that attending to it therefore opens up...

  7. MARKETING CULTURAL

    Directory of Open Access Journals (Sweden)

    Claudia Gómez Ramírez

    2013-07-01

    Full Text Available Este artículo analiza la definición de "Marketing" Cultural y la adaptación y beneficios del "marketing" tradicional respecto al conjunto de manifestaciones artísticas de las diversas industrias involucradas en el sector cultural o artístico; asimismo, se desagregan los conceptos básicos que lo componen como factor de éxito en dichas empresas. Se hace uso de la exposición de casos específicos para ilustrar la articulación de estos dos conceptos aparentemente contrapuestos, cultura y "marketing", y registra algunas reflexiones para que el lector se involucre en la construcción del concepto aquí presentado.

  8. A Model to Measure Tourist Preference toward Scenic Spots Based on Social Media Data: A Case of Dapeng in China

    Directory of Open Access Journals (Sweden)

    Yao Sun

    2017-12-01

    Full Text Available Research on tourist preference toward different tourism destinations has been a hot topic for decades in the field of tourism development. Tourist preference is mostly measured with small group opinion-based methods through introducing indicator systems in previous studies. In the digital age, e-tourism makes it possible to collect huge volumes of social data produced by tourists from the internet, to establish a new way of measuring tourist preference toward a close group of tourism destinations. This paper introduces a new model using social media data to quantitatively measure the market trend of a group of scenic spots from the angle of tourists’ demand, using three attributes: tourist sentiment orientation, present tourist market shares, and potential tourist awareness. Through data mining, cleaning, and analyzing with the framework of Machine Learning, the relative tourist preference toward 34 scenic spots closely located in the Dapeng Peninsula is calculated. The results not only provide a reliable “A-rating” system to gauge the popularity of different scenic spots, but also contribute an innovative measuring model to support scenic spots planning and policy making in the regional context.

  9. Industrial robots in Europe - market, applications and developments

    Science.gov (United States)

    Schraft, R. D.

    1975-01-01

    Different companies involving a wide range of products and manufacturing processes were studied to define the requirements for industrial robots. A survey of all such automatic units offered on the world market was made to establish a data base. Principal applications include coating, spot welding, and loading and unloading operations.

  10. Locational marginal prices with SVC in Indian electricity market ...

    African Journals Online (AJOL)

    Spot pricing based on short run marginal cost (SRMC) theory has the potential to provide the economic signals for the power system operation. Reactive power has gained importance as an ancillary service in competitive markets and its impact on nodal price can not be ignored. With the emergence of FACTS technology, ...

  11. Mobil marketing

    OpenAIRE

    Engelová, Kateřina

    2006-01-01

    Mobil marketing - reklama a podpora prodeje prostřednictvím mobilních telefonů. Technologické a kulturní předpoklady vzniku tohoto odvětví. Mobil marketing a marketingový mix, možnosti synergie. Nástroje mobil marketingu - reklamní SMS a MMS, lokační služby, soutěže, ankety a hlasování, věrnostní systémy, mobilní obsah. Subjekty mobil marketingu. M-komerce. Využití pro podnikové aplikace.

  12. Marketing relacional

    OpenAIRE

    Lahuerta Cuartero, Ainara

    2015-01-01

    El Marketing Relacional es una herramienta de marketing a través del cual las empresas tratan de fidelizar a sus clientes mediante determinados programas de fidelización. Se deben tener en cuenta una serie de aspectos a la hora de llevas a cabo esta herramienta como por ejemplo, la imagen de marca, la comunicación o la credibilidad de la empresa. Renfe es una empresa que se preocupa por la satisfacción de los clientes y por ello pone a disposición de estos multitud de ventajas (descuentos, pr...

  13. Prediction Markets

    DEFF Research Database (Denmark)

    Horn, Christian Franz; Ivens, Bjørn Sven; Ohneberg, Michael

    2014-01-01

    In recent years, Prediction Markets gained growing interest as a forecasting tool among researchers as well as practitioners, which resulted in an increasing number of publications. In order to track the latest development of research, comprising the extent and focus of research, this article...... works, articles of theoretical nature, application-oriented studies and articles dealing with the topic of law and policy. The analysis of the research results reveals that more than half of the literature pool deals with the application and actual function tests of Prediction Markets. The results...

  14. EMERGING MARKETS

    Directory of Open Access Journals (Sweden)

    GHEORGHE CARALICEA-MĂRCULESCU

    2012-03-01

    Full Text Available The emerging markets are winning the currency war, because at this very moment its the battle of global financial institutions , as to who is more vulnerable and more exposed to the debt crisis and have their hands in more risky assets. US and Euro with their intertwining the financial stuff of the nation, the banks and the corporations are in a deep mess. One goes down, takes the other ones too. Right now , they all are struggling and getting beaten up , while the emerging markets are quiet and not really expressing their stands on the current situation except are reacting by all only putting their own houses in order.

  15. The process of short- and long-term price integration in the Benin maize market.

    NARCIS (Netherlands)

    Lutz, C.; Tilburg, van A.; Kamp, van der B.J.

    1995-01-01

    This paper reviews the methodology used to study the price integration process in spatially separated spot markets, and applies it to the Benin maize market. An autoregressive distributed lag model is derived to take into account the sluggishness of price adjustments. Hypothesis testing concerns

  16. Laser spot detection based on reaction diffusion

    Czech Academy of Sciences Publication Activity Database

    Vázquez-Otero, Alejandro; Khikhlukha, Danila; Solano-Altamirano, J. M.; Dormido, R.; Duro, N.

    2016-01-01

    Roč. 16, č. 3 (2016), s. 1-11, č. článku 315. ISSN 1424-8220 R&D Projects: GA MŠk EF15_008/0000162 Grant - others:ELI Beamlines(XE) CZ.02.1.01/0.0/0.0/15_008/0000162 Institutional support: RVO:68378271 Keywords : laser spot detection * laser beam detection * reaction diffusion models * Fitzhugh-Nagumo model * reaction diffusion computation * Turing patterns Subject RIV: BL - Plasma and Gas Discharge Physics OBOR OECD: Fluids and plasma physics (including surface physics) Impact factor: 2.677, year: 2016

  17. On cold spots in tumor subvolumes

    International Nuclear Information System (INIS)

    Tome, Wolfgang A.; Fowler, Jack F.

    2002-01-01

    Losses in tumor control are estimated for cold spots of various 'sizes' and degrees of 'cold dose'. This question is important in the context of intensity modulated radiotherapy where differential dose-volume histograms (DVHs) for targets that abut a critical structure often exhibit a cold dose tail. This can be detrimental to tumor control probability (TCP) for fractions of cold volumes even as small as 1%, if the cold dose is lower than the prescribed dose by substantially more than 10%. The Niemierko-Goitein linear-quadratic algorithm with γ 50 slope 1-3 was used to study the effect of cold spots of various degrees (dose deficit below the prescription dose) and size (fractional volume of the cold dose). A two-bin model DVH has been constructed in which the cold dose bin is allowed to vary from a dose deficit of 1%-50% below prescription dose and to have volumes varying from 1% to 90%. In order to study and quantify the effect of a small volume of cold dose on TCP and effective uniform dose (EUD), a four-bin DVH model has been constructed in which the lowest dose bin, which has a fractional volume of 1%, is allowed to vary from 10% to 45% dose deficit below prescription dose. The highest dose bin represents a simultaneous boost. For fixed size of the cold spot the calculated values of TCP decreased rapidly with increasing degrees of cold dose for any size of the cold spot, even as small as 1% fractional volume. For the four-subvolume model, in which the highest dose bin has a fractional volume of 80% and is set at a boost dose of 10% above prescription dose, it is found that the loss in TCP and EUD is moderate as long as the cold 1% subvolume has a deficit less than approximately 20%. However, as the dose deficit in the 1% subvolume bin increases further it drives TCP and EUD rapidly down and can lead to a serious loss in TCP and EUD. Since a dose deficit to a 1% volume of the target that is larger than 20% of the prescription dose may lead to serious loss of

  18. The fractal nature of vacuum arc cathode spots

    International Nuclear Information System (INIS)

    Anders, Andre

    2005-01-01

    Cathode spot phenomena show many features of fractals, for example self-similar patterns in the emitted light and arc erosion traces. Although there have been hints on the fractal nature of cathode spots in the literature, the fractal approach to spot interpretation is underutilized. In this work, a brief review of spot properties is given, touching the differences between spot type 1 (on cathodes surfaces with dielectric layers) and spot type 2 (on metallic, clean surfaces) as well as the known spot fragment or cell structure. The basic properties of self-similarity, power laws, random colored noise, and fractals are introduced. Several points of evidence for the fractal nature of spots are provided. Specifically power laws are identified as signature of fractal properties, such as spectral power of noisy arc parameters (ion current, arc voltage, etc) obtained by fast Fourier transform. It is shown that fractal properties can be observed down to the cutoff by measurement resolution or occurrence of elementary steps in physical processes. Random walk models of cathode spot motion are well established: they go asymptotically to Brownian motion for infinitesimal step width. The power spectrum of the arc voltage noise falls as 1/f 2 , where f is frequency, supporting a fractal spot model associated with Brownian motion

  19. Advanced spot quality analysis in two-colour microarray experiments

    Directory of Open Access Journals (Sweden)

    Vetter Guillaume

    2008-09-01

    Full Text Available Abstract Background Image analysis of microarrays and, in particular, spot quantification and spot quality control, is one of the most important steps in statistical analysis of microarray data. Recent methods of spot quality control are still in early age of development, often leading to underestimation of true positive microarray features and, consequently, to loss of important biological information. Therefore, improving and standardizing the statistical approaches of spot quality control are essential to facilitate the overall analysis of microarray data and subsequent extraction of biological information. Findings We evaluated the performance of two image analysis packages MAIA and GenePix (GP using two complementary experimental approaches with a focus on the statistical analysis of spot quality factors. First, we developed control microarrays with a priori known fluorescence ratios to verify the accuracy and precision of the ratio estimation of signal intensities. Next, we developed advanced semi-automatic protocols of spot quality evaluation in MAIA and GP and compared their performance with available facilities of spot quantitative filtering in GP. We evaluated these algorithms for standardised spot quality analysis in a whole-genome microarray experiment assessing well-characterised transcriptional modifications induced by the transcription regulator SNAI1. Using a set of RT-PCR or qRT-PCR validated microarray data, we found that the semi-automatic protocol of spot quality control we developed with MAIA allowed recovering approximately 13% more spots and 38% more differentially expressed genes (at FDR = 5% than GP with default spot filtering conditions. Conclusion Careful control of spot quality characteristics with advanced spot quality evaluation can significantly increase the amount of confident and accurate data resulting in more meaningful biological conclusions.

  20. CO2-emission trading and green markets for renewable electricity. Wilmar - deliverable 4.1

    DEFF Research Database (Denmark)

    Azuma-Dicke, N.; Morthorst, Poul Erik; Ravn, H.F.

    2004-01-01

    generation may change the situation from earning money to losing money despite the increasing spot price. Heavy restrictions on emissions penalise thefossil-fuelled technologies significantly, and the associated increase in the spot price need not compensate for this. Therefore, a market of TEP’s is expected......Wh obtained at the green certificate market. In the Wilmar model, the TGC market can either be handled exogenously, i.e., the increase in renewable capacity and an average annual TGC price are determined outside the model, or a simple TGCmodule is developed, including the long-term supply functions...

  1. Sports Marketing.

    Science.gov (United States)

    Ohio State Dept. of Education, Columbus. Div. of Career-Technical and Adult Education.

    This document presents the Ohio Integrated Technical and Academic Competency profile for sports marketing. The profile is to serve as the basis for curriculum development in Ohio's secondary, adult, and postsecondary programs. The profile includes a comprehensive listing of 999 specialty key indicators for evaluating mastery of 113 competencies in…

  2. Outperforming markets

    DEFF Research Database (Denmark)

    Nielsen, Christian; Rimmel, Gunnar; Yosano, Tadanori

    2015-01-01

    . Intellectual capital information leads to significantly better long-term performance against a reference portfolio, and is thus important to the capital market. Further, superior disclosure of IC reduces bid-ask spread in the long-term, indicating that such disclosures are important in an IPO setting. Analysts...

  3. Marketing deportivo

    OpenAIRE

    Gutiérrez Montaña, Nelson Eduardo

    2008-01-01

    El marketing deportivo en nuestro país y sus repercusiones en el mundo, es una clara herramienta para el desarrollo del mercadeo, y muestra las tendencias mundiales que ejemplifican de alguna forma el desarrollo de la industria deportiva como también el apoyo a sponsorizacion en los deportes

  4. A fractionally cointegrated VAR analysis of price discovery in commodity futures markets

    DEFF Research Database (Denmark)

    Dolatabadi, Sepideh; Nielsen, Morten Ørregaard; Xu, Ke

    In this paper we apply the recently developed fractionally cointegrated vector autoregressive (FCVAR) model to analyze price discovery in the spot and futures markets for five non-ferrous metals (aluminium, copper, lead, nickel, and zinc). The FCVAR model allows for long memory (fractional...... to the results from the non-fractional model, we find slightly more evidence of price discovery in the spot market. Specifically, using standard likelihood ratio tests, we do not reject the hypothesis that price discovery takes place exclusively in the spot (futures) market for copper, lead, and zinc (aluminium...... straightforward examination of the adjustment coefficients. In our empirical analysis we use the data from Figuerola-Ferretti and Gonzalo (2010), who conduct a similar analysis using the usual (non-fractional) CVAR model. Our first finding is that, for all markets except copper, the fractional integration...

  5. Performance of an app measuring spot quality in dried blood spot sampling

    NARCIS (Netherlands)

    Veenhof, Herman

    2016-01-01

    Introduction: The Dried Blood Spot sampling (DBS) method gives patients and health care workers the opportunity for remote sampling using a drop of blood from a fingerprick on a sampling card which can be send to the laboratory by mail. Laboratory analysts frequently reject DBS samples because of

  6. Cold Spots in Neonatal Incubators Are Hot Spots for Microbial Contamination▿

    Science.gov (United States)

    de Goffau, Marcus C.; Bergman, Klasien A.; de Vries, Hendrik J.; Meessen, Nico E. L.; Degener, John E.; van Dijl, Jan Maarten; Harmsen, Hermie J. M.

    2011-01-01

    Thermal stability is essential for the survival and well-being of preterm neonates. This is achieved in neonatal incubators by raising the ambient temperature and humidity to sufficiently high levels. However, potentially pathogenic microorganisms also can thrive in such warm and humid environments. We therefore investigated whether the level of microbial contamination (i.e., the bacterial load) inside neonatal incubators can be predicted on the basis of their average temperature and relative humidity settings, paying special attention to local temperature differences. Swab samples were taken from the warmest and coldest spots found within Caleo incubators, and these were plated to determine the number of microbial CFU per location. In incubators with high average temperature (≥34°C) and relative humidity (≥60%) values, the level of microbial contamination was significantly higher at cold spots than at hot spots. This relates to the fact that the local equilibrium relative humidity at cold spots is sufficiently high to sustain microbial growth. The abundance of staphylococci, which are the main causative agents of late-onset sepsis in preterm neonates, was found to be elevated significantly in cold areas. These findings can be used to improve basic incubator hygiene. PMID:22003021

  7. Cold spots in neonatal incubators are hot spots for microbial contamination.

    Science.gov (United States)

    de Goffau, Marcus C; Bergman, Klasien A; de Vries, Hendrik J; Meessen, Nico E L; Degener, John E; van Dijl, Jan Maarten; Harmsen, Hermie J M

    2011-12-01

    Thermal stability is essential for the survival and well-being of preterm neonates. This is achieved in neonatal incubators by raising the ambient temperature and humidity to sufficiently high levels. However, potentially pathogenic microorganisms also can thrive in such warm and humid environments. We therefore investigated whether the level of microbial contamination (i.e., the bacterial load) inside neonatal incubators can be predicted on the basis of their average temperature and relative humidity settings, paying special attention to local temperature differences. Swab samples were taken from the warmest and coldest spots found within Caleo incubators, and these were plated to determine the number of microbial CFU per location. In incubators with high average temperature (≥ 34°C) and relative humidity (≥ 60%) values, the level of microbial contamination was significantly higher at cold spots than at hot spots. This relates to the fact that the local equilibrium relative humidity at cold spots is sufficiently high to sustain microbial growth. The abundance of staphylococci, which are the main causative agents of late-onset sepsis in preterm neonates, was found to be elevated significantly in cold areas. These findings can be used to improve basic incubator hygiene.

  8. Evidence for the spotting hypothesis in gymnasts.

    Science.gov (United States)

    Heinen, Thomas

    2011-04-01

    The goal of this study was to investigate the visual spotting hypothesis in 10 experts and 10 apprentices as they perform back aerial somersaults from a standing position with no preparatory jumps (short flight duration condition) and after some preparatory jumps with a flight time of 1s (long flight duration condition). Differences in gaze behavior and kinematics were expected between experts and apprentices and between experimental conditions. Gaze behavior was measured using a portable and wireless eye-tracking system in combination with a movement-analysis system. Experts exhibited a smaller landing deviation from the middle of the trampoline bed than apprentices. Experts showed higher fixation ratios during the take-off and flight phase. Experts exhibited no blinks in any of the somersaults in both conditions, whereas apprentices showed significant blink ratios in both experimental conditions. The findings suggest that gymnasts can use visual spotting during the back aerial somersault, even when the time of flight is delimited. We conclude that knowledge about gaze-movement relationships may help coaches develop specific training programs in the learning process of the back aerial somersault.

  9. Hot spot exercise: 1975 (HSX-75)

    International Nuclear Information System (INIS)

    Trolan, R.T.; Wilson, R.L.; Jessen, F.W.

    1976-01-01

    A special unannounced exercise, called HOT SPOT Exercise--1975 (HSX-75), was prepared to test the general capability of the LLL ALERT Program to activate and deploy the LLL and Sandia Laboratory, Livermore (SLL) component of the ERDA/ARG. The exercise activities were limited to the LLL facilities in Livermore and the Site 300 explosive test facility located approximately 15 miles southeast of Livermore. The exercise simulated an accident at a U.S. Army storage facility (Site 300). The simulated accident involved two LLL designed weapons (W-70). One weapon was dropped during unloading operations and ignited the gas tank of the weapon transporter. The subsequent fire caused a low-order detonation of the high explosive component. The fire caused dispersal of fissile material downwind from the site. A second weapon was damaged in the explosion by fragments from the first weapon. The extent of damage to the second weapon was initially unknown. The exercise was conducted on September 23, 1975. A complete description of the specific nature of the simulated accident is contained in the scenario. Umpires were assigned to evaluate and subsequently report on the effectiveness of the response. All test objectives were accomplished. The following appendices are included: operational safety procedures, photographs and site map, HOT SPOT equipment, atmospheric release advisory capability, personnel list, chronology of events, and critique comments

  10. Senzorové uzly Java Sun SPOT

    OpenAIRE

    Malina, Karel

    2010-01-01

    Tato bakalářská práce se zabývá využitím senzorových uzlů Java Sun Spot pro vícebodové bezdrátové sledování teploty a její regulace pomocí těchto uzlů. V teoretické části je uveden popis, složení a ovládání senzorových uzlů Java Sun Spot. V praktické části jsou uvedeny naprogramované aplikace, ve vývojovém prostředí NetBeans, pro bezdrátové sledování teploty, kapacity baterie a jejich zobrazení na hostitelském počítači ve formě grafu. Ve druhé části praktické části je popsán způsob regulace t...

  11. Resistance to leaf spot disease in peanut

    International Nuclear Information System (INIS)

    Soriano, J.D.

    1988-01-01

    Full text: Leaf spot disease causes defoliation of peanut plants during pod development thereby reducing yield. To induce mutations for resistance to the disease, dormant seeds of peanut were irradiated with 10-40 kR gamma rays with pre- and post-irradiation treatments to minimize radiation damage. Spores of the causal fungi, Cercospora arachidicola Hori and Cercosporidium personatum (B and C) Deigh., were cultured under asceptic conditions in PDA medium with 2-3 drops of 10% table salt solution to enhance development of spores. The first two leaves of M 2 seedlings were hand-inoculated two or three times in the field at one week intervals. Out of a total of 2,453 M 2 seedlings inoculated thrice, 9 plants showed complete resistance based on degree of infection. However, after recurrent selection, only 3 M 5 lines gave complete resistance, the rest exhibiting only intermediate resistance. The disease resistant lines yielded almost twice as much as several commercial varieties due to extensive leaf defoliation in the latter. One of the mutant lines is being crossed with some popular susceptible varieties. Inheritance studies showed that leaf spot resistance is governed by two recessive mutant genes acting complementary. The F 2 ratio was close to 15:1. The mutant lines are presently evaluated through the Bureau of Plant Industry before seeds are distributed to peanut growers. (author)

  12. Effects of new export rules, a spotted owl plan, and recession on timber prices and shipments from the Douglas-fir region.

    Science.gov (United States)

    Donald F. Flora; Wendy J. McGInnls

    1992-01-01

    Several recently emplaced and potential Northwest timber policies are causing considerable market turbulence. Estimated were price and volume changes induced by three supply-side policies (a state-log export embargo, forest replanning, and spotted owl reservations) and the demand slide of 1990-91. Impacts were gauged separately and together by using a four-sector model...

  13. Medical students’ attitudes and perspectives regarding novel computer-based practical spot tests compared to traditional practical spot tests

    Science.gov (United States)

    Wijerathne, Buddhika; Rathnayake, Geetha

    2013-01-01

    Background Most universities currently practice traditional practical spot tests to evaluate students. However, traditional methods have several disadvantages. Computer-based examination techniques are becoming more popular among medical educators worldwide. Therefore incorporating the computer interface in practical spot testing is a novel concept that may minimize the shortcomings of traditional methods. Assessing students’ attitudes and perspectives is vital in understanding how students perceive the novel method. Methods One hundred and sixty medical students were randomly allocated to either a computer-based spot test (n=80) or a traditional spot test (n=80). The students rated their attitudes and perspectives regarding the spot test method soon after the test. The results were described comparatively. Results Students had higher positive attitudes towards the computer-based practical spot test compared to the traditional spot test. Their recommendations to introduce the novel practical spot test method for future exams and to other universities were statistically significantly higher. Conclusions The computer-based practical spot test is viewed as more acceptable to students than the traditional spot test. PMID:26451213

  14. Market Power in Laboratory Emission Permit Markets

    International Nuclear Information System (INIS)

    Godby, R.

    2002-01-01

    Many proposals suggesting the use of markets to control pollution assume markets will be competitive. When markets do not exhibit competitive characteristics, however, should they still be expected to result in efficiency improvement relative to traditional approaches? This paper employs experimental economic methods to examine the effect of market structure on the use of marketable emissions permits. Results indicate that in a market with one dominant firm and a number of fringe firms, strategic manipulation occurs repeatedly in the laboratory as predicted by market power models, undermining the allocative and dynamic efficiency benefits such markets offer. When firms compete in a downstream product market dominated by the same single firm, market efficiency can actually be reduced with the implementation of permit markets. Final market efficiencies reflect initial endowments and are influenced by competitive conditions elsewhere in the economy, indicating that policy-makers should carefully consider whether markets are appropriate in such circumstances

  15. Capacity subscription and its market design impact

    International Nuclear Information System (INIS)

    Doorman, Gerard; Solem, Gerd

    2005-04-01

    Capacity Subscription (CS) implies that consumers buy (subscribe to) a certain amount of capacity. Their demand is limited to this capacity when the total power system is short of capacity and the System Operator activates controllable Load Limiting Devices (LLDs). The objective is to maintain system security by avoiding involuntary load shedding. The report describes a market design with CS. As a case study, an analysis is made of the changes in the market design of the Nordic system that would be necessary to implement CS. First the present Nordic market design is described. Focus is on the various market participants, their roles within various time horizons and their interactions. So it is described how CS works, why it works and what is necessary to make it work. Subsequently the necessary changes in the Nordic market structure are described. The major changes are the installation of the LLDs, the establishment of the necessary infrastructure to control the LLDs and the rules governing their control and the establishment of a capacity market. The major rule is that the System Operator announces LLD activation when a shortage situation is expected. In the capacity market generators offer available capacity during system peak conditions, while consumers bid their need for capacity. Market participants are the same as on the spot market, while small consumers buy through retailer. Generators are obliged to offer the capacity sold on the capacity market on the spot market during LLD activation. Failure to do so results in a penalty payment. The report further discusses issues like the need for verification procedures, import and export, generation pooling, the handling of small consumers, reserves and a possible implementation path of CS. With respect to transmission constraints it is argued that market splitting can be a viable option. It is concluded that CS can be a possible solution to maintain generation adequacy, but there are some serious challenges. The

  16. Hot spot formation on different tokamak wall materials

    International Nuclear Information System (INIS)

    Nedospasov, A.V.; Bezlyudny, I.V.

    1998-01-01

    The thermal contraction phenomenon and generation of 'hot spots' due to thermoemission were described. The paper consider non-linear stages of heat contraction on the graphite, beryllium, tungsten and vanadium wall. It is shown that on the beryllium surface hot spot can't appear due to strong cooling by sublimation. For other materials the conditions of hot spot appearance due to local superheating of the wall have been calculated and their parameters were found: critical surface temperature, size of spots and their temperature profiles, heat fluxes from plasma to the spots. It have been calculated fluxes of sublimating materials from spots to the plasma. It is noticed that nominal temperature of the grafite divertor plate, accepted in ITER's project to being equal 1500 C, is lower then critical temperature of the development heat contraction due to thermoemission. (orig.)

  17. Combining geometric matching with SVM to improve symbol spotting

    Science.gov (United States)

    Nayef, Nibal; Breuel, Thomas M.

    2013-01-01

    Symbol spotting is important for automatic interpretation of technical line drawings. Current spotting methods are not reliable enough for such tasks due to low precision rates. In this paper, we combine a geometric matching-based spotting method with an SVM classifier to improve the precision of the spotting. In symbol spotting, a query symbol is to be located within a line drawing. Candidate matches can be found, however, the found matches may be true or false. To distinguish a false match, an SVM classifier is used. The classifier is trained on true and false matches of a query symbol. The matches are represented as vectors that indicate the qualities of how well the query features are matched, those qualities are obtained via geometric matching. Using the classification, the precision of the spotting improved from an average of 76.6% to an average of 97.2% on a database of technical line drawings.

  18. Spot: A Programming Language for Verified Flight Software

    Science.gov (United States)

    Bocchino, Robert L., Jr.; Gamble, Edward; Gostelow, Kim P.; Some, Raphael R.

    2014-01-01

    The C programming language is widely used for programming space flight software and other safety-critical real time systems. C, however, is far from ideal for this purpose: as is well known, it is both low-level and unsafe. This paper describes Spot, a language derived from C for programming space flight systems. Spot aims to maintain compatibility with existing C code while improving the language and supporting verification with the SPIN model checker. The major features of Spot include actor-based concurrency, distributed state with message passing and transactional updates, and annotations for testing and verification. Spot also supports domain-specific annotations for managing spacecraft state, e.g., communicating telemetry information to the ground. We describe the motivation and design rationale for Spot, give an overview of the design, provide examples of Spot's capabilities, and discuss the current status of the implementation.

  19. From physical marketing to web marketing

    NARCIS (Netherlands)

    Constantinides, Efthymios

    2002-01-01

    Reviews the criticism of the 4P marketing mix framework as the basis of traditional and virtual marketing planning. Argues that the customary marketing management approach, based on the popular marketing mix 4Ps paradigm, is inadequate in the case of virtual marketing. Identifies two main

  20. Utilizing of marketing research for marketing communication

    OpenAIRE

    Bielová, Zuzana

    2008-01-01

    The subject of bachelor's thesis "Utilizing of marketing research for marketing communication" is analyze problematic of marketing communications in sector of educational services. The aims are potential clients of education. I will try to make out import of marketing research for marketing communication of the company.

  1. Entrepreneurship and marketing

    OpenAIRE

    Sidorchuk, Roman

    2009-01-01

    This article analyzes the relationship marketing and entrepreneurship. Marketing considered as an integral part of entrepreneurship. Commit role in relationship marketing and entrepreneurship innovation. The role of marketing in the search for potential market demand of innovation as the scope of latent or unmet needs of customers. Shown the lack of marketing in today's special marketing tools for entrepreneurs.

  2. Marketing Reference Services.

    Science.gov (United States)

    Norman, O. Gene

    1995-01-01

    Relates the marketing concept to library reference services. Highlights include a review of the literature and an overview of marketing, including research, the marketing mix, strategic plan, marketing plan, and marketing audit. Marketing principles are applied to reference services through the marketing mix elements of product, price, place, and…

  3. The behavior of crude oil spot and futures prices around OPEC and SPR announcements. An event study perspective

    International Nuclear Information System (INIS)

    Demirer, Riza; Kutan, Ali M.

    2010-01-01

    This paper examines the informational efficiency of crude oil spot and futures markets with respect to OPEC conference and U.S. Strategic Petroleum Reserve (SPR) announcements. We employ the event study methodology to examine the abnormal returns in crude oil spot and futures markets around OPEC conference and SPR announcement dates between 1983 and 2008. Our findings regarding OPEC announcements indicate an asymmetry in that only OPEC production cut announcements yield a statistically significant impact with the impact diminishing for longer maturities. We also find that the persistence of returns following OPEC production cut announcements creates substantial excess returns to investors who take long positions on the day following the end of OPEC conferences. In the case of SPR announcements, we find that the government's use of this program initiates a short-run market reaction following the announcement date. Furthermore, our tests of cumulative abnormal returns suggest that the market reacts efficiently to SPR announcements providing support for the use of the strategic reserves as a tool to stabilize the oil market. Our findings have significant policy implications for investors and are useful in designing effective energy policy strategies. (author)

  4. Bier’s spots with onset in childhood*

    Science.gov (United States)

    Portocarrero, Larissa Karine Leite; Saraiva, Maria Isabel Ramos; Barbosa, Marcella Amaral Horta; Veronez, Isis Suga; Swiczar, Bethania Cabral Cavalli; Valente, Neusa Yuriko Sakai

    2016-01-01

    Bier spots are small, irregular, hypopigmented macules that are usually found on the arms and legs. The macules disappear when the limb is raised. Bier spots have been reported in association with a number of conditions but there is no consistent association to specific desease. Although they usually affect young adults, we report a case of Bier spots that began in childhood. As an asymptomatic and possibly transitional condition, the disease does not require treatment. PMID:28300906

  5. Dynamic characterization of the CT angiographic 'spot sign'.

    Directory of Open Access Journals (Sweden)

    Santanu Chakraborty

    Full Text Available BACKGROUND AND PURPOSE: Standard (static CT angiography is used to identify the intracerebral hemorrhage (ICH spot sign. We used dynamic CT-angiography to describe spot sign characteristics and measurement parameters over 60-seconds of image acquisition. METHODS: We prospectively identified consecutive patients presenting with acute ICH within 4.5 hours of symptom onset, and collected whole brain dynamic CT-angiography (dCTA. Spot parameters (earliest appearance, duration, maximum Hounsfield unit (HU, time to maximum HU, time to spot diagnostic definition, spot volume and hematoma volumes were measured using volumetric analysis software. RESULT: We enrolled 34 patients: three were excluded due to secondary causes of ICH. Of the remaining 31 patients there were 18 females (58% with median age 70 (range 47-86 and baseline hematoma volume 33 ml (range 0.7-103 ml. Positive dCTA spot sign was present in 13 patients (42% visualized as an expanding 3-dimensional structure temporally evolving its morphology over the scan period. Median time to spot appearance was 21 s (range 15-35 seconds. This method allowed tracking of spots evolution until the end of venous phase (active extravasation with median duration of 39 s (range 25-45 seconds. The average density and time to maximum density was 204HU and 30.8 s (range 23-31 s respectively. Median time to spot diagnosis was 20.8 s using either 100 or 120HU definitions. CONCLUSION: Dynamic CTA allows a 3-dimensional assessment of spot sign formation during acute ICH, and captured higher spot sign prevalence than previously reported. This is the first study to describe and quantify spot sign characteristics using dCTA; these can be used in ongoing and upcoming ICH studies.

  6. Insights from ecological niche modeling on the taxonomic distinction and niche differentiation between the black-spotted and red-spotted tokay geckoes (Gekko gecko)

    OpenAIRE

    Zhang, Yueyun; Chen, Chongtao; Li, Li; Zhao, Chengjian; Chen, Weicai; Huang, Yong

    2014-01-01

    The black-spotted tokay and the red-spotted tokay are morphologically distinct and have largely allopatric distributions. The black-spotted tokay is characterized by a small body size and dark skin with sundry spots, while the red-spotted tokay has a relatively large body size and red spots. Based on morphological, karyotypic, genetic, and distribution differences, recent studies suggested their species status; however, their classifications remain controversial, and additional data such as e...

  7. Market Structure and Market Access

    OpenAIRE

    Joseph Francois; Ian Wooton

    2008-01-01

    The authors examine an issue at the nexus of domestic competition policy and international trade, the interaction between goods trade and market power in domestic trade and distribution sectors. Theory suggests a set of linkages between service-sector competition and goods trade supported by econometrics involving imports of 22 OECD countries compared with 69 exporters. Competition in serv...

  8. Risk management solutions for the new energy market

    International Nuclear Information System (INIS)

    Saba, A.

    2001-01-01

    Ontario Power Generation (OPG) is one of five successor companies of former Ontario Hydro. With a current capacity of more than 30,000 MW, OPG is the fourth largest power generator in North America. Its generation mix includes 50 per cent nuclear with the balance being between fossil fuel and hydro energy. This power point presentation discussed the role of OPG in Ontario's new deregulated market place. The market is immature and new billing schemes are in the process of being introduced. This presentation discussed hourly market clearing price (spot market) and the need for hourly data, or interval meters. Issues regarding increased price volatility, load variability and how consumers can avoid high prices through load control were also discussed. In Ontario's new market place, the purchasing options for electric power include the wholesale market participant, retailers of electricity, retail participants, default supply and self generation. A brief review of each of these procurement options was included with this presentation. tabs., figs

  9. Marketing medicine.

    Science.gov (United States)

    Mellsop, G

    1988-02-10

    Medical etiquette has always discouraged advertising. Indeed, the profession as a whole has tended to view the idea of marketing medicine as at best, a trifle infra dig. Maintenance of this attitude has been helped by an ostrich like approach to the realities of private practice, and to the activities of drug companies, which have contributed significantly to our therapeutic abilities. The moves to corporatise and privatise institutions have raised the level of concern of our New Zealand medical profession. It is not self evident that the marketing concept as currently understood by the business community and by politicians is familiar to the medical profession. There must also be at least a level of suspicion that the business and financial world is insufficiently sensitive to the nuances and complexities of health service delivery. This paper will briefly explore those two viewpoints and consider the feasibility of any attempt to marry them.

  10. International marketing

    OpenAIRE

    T Cannon

    1989-01-01

    The international marketplace has been transformed in recent years by shifts in trading patterns and practices. These changes have been reinforced by new technologies and evolving economic relationships. This paper is an attempt to integrate these developments into the burgeoning literature on international marketing as well as recent research findings. The research emphasis within the subject has evolved alongside changes in the stress given to key aspects of international trade. The preoccu...

  11. Academic Marketing

    Directory of Open Access Journals (Sweden)

    Ecaterina Daniela ZECA

    2017-06-01

    Full Text Available Academic Marketing is an investment in a future dominated by The Forth Industrial Revolution and Globalization and not an expense. This aspect will basically alter our way to teach and to learn. In its dimensions, arguably changes will be like anything we has seen before. We try to assess how will be all unfold but, anyway, academic field response at this challenge should be integrated and comprehensive, involving all stakeholders both public and private sectors, because these changes herald upheaval of whole organizations. The educational service is a special one, delivered today but with effects in the future, the future of the individual, the future of generation, the future of nations. The educational service policy adapted to the requirements of time, brings to the front the opportunity of academic marketing. To analyze demand in a professional way, to measure trends and correlated university programs with the forecast demand for jobs, it is the subject. In the case of academic education, we are talking also about cost, distribution and promotion policies, but being a special service we also discuss about ethic boundaries. This work is an open chapter focusing studies on academic megamarketing, the work keeping up with the pace of change, students enrolment mobility, overtakes job market, and an imposed win-win-win formula, applied for students, local community and academic field.

  12. From physical marketing to web marketing

    OpenAIRE

    Constantinides, Efthymios

    2002-01-01

    Reviews the criticism of the 4P marketing mix framework as the basis of traditional and virtual marketing planning. Argues that the customary marketing management approach, based on the popular marketing mix 4Ps paradigm, is inadequate in the case of virtual marketing. Identifies two main limitations of the marketing mix when applied in online environments namely the role of the Ps in a virtual commercial setting and the lack of any strategic elements in the model. Identifies the critical fac...

  13. Does Online Marketing Truly Replace Traditional Marketing?

    OpenAIRE

    Gunawan, Emilia Margareth

    2013-01-01

    This review explains the way how online marketing has been replacing traditional marketing in terms of marketing mix. This replacement might happen, because online marketing can give advantages, i.e., offering on-time delivery, increasing effectiveness of two way interactions between buyer and seller, and creating online communities (Szmigin, et al, 2005). The transition of atoms to bits format reflects that tangible products in traditional marketing is being digitalized. The marketing strate...

  14. An Agent-Based Computational Model for China’s Stock Market and Stock Index Futures Market

    Directory of Open Access Journals (Sweden)

    Hai-Chuan Xu

    2014-01-01

    Full Text Available This study presents an agent-based computational cross market model for Chinese equity market structure, which includes both stocks and CSI 300 index futures. In this model, we design several stocks and one index future to simulate this structure. This model allows heterogeneous investors to make investment decisions with restrictions including wealth, market trading mechanism, and risk management. Investors’ demands and order submissions are endogenously determined. Our model successfully reproduces several key features of the Chinese financial markets including spot-futures basis distribution, bid-ask spread distribution, volatility clustering, and long memory in absolute returns. Our model can be applied in cross market risk control, market mechanism design, and arbitrage strategies analysis.

  15. Operation of Modern Distribution Power Systems in Competitive Electricity Markets

    DEFF Research Database (Denmark)

    Hu, Weihao

    , DG units, loads and electricity price are studied. Further, the effect of energy storage systems will be considered, and an optimal operation strategy for energy storage devices in a large scale wind power system in the electricity market is proposed. The western Danish power system, which has large...... strategy for trading wind power in the Danish short-term electricity market in order to minimize the imbalance costs for regulation. A load optimization method based on spot price for demand side management in Denmark is proposed in order to save the energy costs for 3 types of typical Danish consumers....../discharging strategies on the spot market price and the interaction between the electricity price and the system demand are presented and discussed....

  16. Qualitative research ethics on the spot

    DEFF Research Database (Denmark)

    Sørensen, Nelli Øvre; Øye, Christine; Glasdam, Stinne

    2015-01-01

    , the article explores and discusses research ethical dilemmas. Objectives and ethical considerations: First, and especially, the article addresses the challenges for gatekeepers who influence the informant’s decisions to participate in research. Second, the article addresses the challenges in following...... research ethical guidelines related to informed consent and doing no harm. Third, the article argues for the importance of having research ethical guidelines and review boards to question and discuss the possible ethical dilemmas that occur in qualitative research. Discussion and conclusion: Research...... ethics must be understood in qualitative research as relational, situational, and emerging. That is, that focus on ethical issues and dilemmas has to be paid attention on the spot and not only at the desktop....

  17. Dispersion of hot spots in steam generators

    International Nuclear Information System (INIS)

    Achenbach, E.J.

    1988-01-01

    The streamwise development of hot spots in a helical type heat exchanger has been treated experimentally and theoretically as well. Velocity profiles across the bundle have been measured varying the Reynolds number, Re, from 10 3 to 1.35 x 10 5 . Pressurized air or helium have been applied as coolant. In an additional series of tests the length scale parameter of the turbulence structure has been determined. It is correlated with the turbulent Peclet number, Pe t , which occurs in the basic equation as an unknown parameter. Its value was found to be independent of Re (Pe t = 8.2). Introducing this value leads to a good agreement of theoretical and experimental results. (author)

  18. Auroral bright spot sequence near 14 MLT

    International Nuclear Information System (INIS)

    Sandholt, P.E.; Lybekk, B.

    1990-08-01

    Optical observations of a dayside auroral brightening sequence, by means of all-sky TV cameras and meridian scanning photometers, have been combined with EISCAT ion drift observations within the same invariant latitude - MLT sector. The reported events, covering a 35 min interval around 14 MLT, are embedded within a longer period of similar auroral activity between 0830 (1200 MLT) and 1300 UT (1600 MLT). These observations are discussed in relation to recent models of boundary layer plasma dynamics and the associated magnetosphere-ionosphere coupling. The ionospheric events may correspond to large-scale wavelike motions of the low-latitude boundary layer. Based on this interpretation the observed spot size, speed and repetition period (∼ 10 min) give a wavelenght ∼ 900 km in the present case. The events can also be explained as ionospheric signatures of newly opened flux tubes associated with reconnection bursts at the magnetopause near 1400 MLT. 46 refs., 11 figs

  19. A microsatellite platform for hot spot detection

    Energy Technology Data Exchange (ETDEWEB)

    Walter, I.; Briess, K.; Baerwald, W.; Lorenz, E.; Skrbek, W.; Schrandt, F. [DLR, Berlin (Germany). Inst. of Space Sensor Technology & Planetary Exploration

    2005-01-01

    The main payload of the BIRD micro-satellite is the newly developed hot spot recognition system. It's a dual-channel instrument for middle and thermal infrared imagery based on cooled MCT line detectors. The miniaturisation by integrated detector/cooler assemblies provides a highly efficient design. Since the launch in October 2001 from SHAR/India the BIRD payload, claiming 30% of the BIRD mass of 92 kg, is fully operational. Among others forest fires (Australia), volcanoes (Etna, Chile) and burning coal mines (China) have been detected and their parameters like size, temperature and energy release could be determined. As the status of the payload system is satisfactorily it has a potential to be applied in new missions with the help of modern detector technology.

  20. Price formation of the salmon aquaculture futures market

    DEFF Research Database (Denmark)

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

    2017-01-01

    , the 3-, 4-, 5-, 9- and 12-months futures contracts provide the expected leadership role in the price discovery function, a case that supports a matured market that can be considered a necessary price risk management tool. The mixed finding is an indication of a maturing or near matured futures market......This study examines price formation of the internationally traded salmon futures exchange. Analyzing data from 2006 to 2015, the study identifies the co-integration relationship between the spot market price and 1–6-, 9- and 12-month futures contract prices. With exception of the 12-month maturity...

  1. Price discovery in dual-class shares across multiple markets

    DEFF Research Database (Denmark)

    Fernandes, Marcelo; Scherrer, Cristina

    2018-01-01

    This paper proposes a new measure of price discovery that uses the spectral decomposition. The methodology is especially important in the context of large price systems, such as interest rate parities with spot and futures contracts or dual-class shares in multiple markets. We employ high frequency...... data to study price discovery in dual-class Brazilian stocks and their ADRs. We find that the foreign market is at least as informative as the home market and that shocks in the dual-class premium entail a permanent effect in normal times, but transitory in periods of financial distress...

  2. The missions of the regulator confronted with the collusive behaviour of the actors in a deregulated electricity market (the case of France)

    International Nuclear Information System (INIS)

    Percebois, J.

    2004-01-01

    Regulatory Commissions play a major role in a competitive electricity market. Some missions are positive: public service objectives, third party access pricing on the transmission and distribution networks, anticipation of necessary production capacities. Other missions are rather defensive: avoiding collusive behaviour on the electricity spot markets, reducing market power position and avoiding 'shadow congestions' on the inter-states networks. (author)

  3. The strategic use of forward contracts: Applications in power markets

    Science.gov (United States)

    Lien, Jeffrey Scott

    This dissertation develops three theoretical models that analyze forward trading by firms with market power. The models are discussed in the context of recently restructured power markets, but the results can be applied more generally. The first model considers the profitability of large firms in markets with limited economies of scale and free entry. When large firms apply their market power, small firms benefit from the high prices without incurring the costs of restricted output. When entry is considered, and profit opportunity is determined by the cost of entry, this asymmetry creates the "curse of market power;" the long-run profits of large firms are reduced because of their market power. I suggest ways that large power producers can cope with the curse of market power, including the sale of long-term forward contracts. Past research has shown that forward contracts can demonstrate commitment to aggressive behavior to a competing duopolist. I add explicitly modeled entry to this literature, and make the potential entrants the audience of the forward sale. The existence of a forward market decreases equilibrium entry, increases the profits of large firms, and enhances economic efficiency. In the second model, a consumer representative, such as a state government or regulated distribution utility, bargains in the forward market on behalf of end-consumers who cannot organize together in the spot market. The ability to organize in forward markets allows consumers to encourage economic efficiency. When multiple producers are considered, I find that the ability to offer contracts also increases consumer surplus by decreasing the producers' profits. In some specifications of the model, consumers are able to capture the full gains from trade. The third model of this dissertation considers the ability of a large producer to take advantage of anonymity by randomly alternating between forward sales and forward purchases. The large producer uses its market power to

  4. Jakarta Interbank Spot Dollar Rate (JISDOR as The Reference Rate: Is It Effective?

    Directory of Open Access Journals (Sweden)

    Marwadi Marwadi

    2016-07-01

    Full Text Available This study analyze the influence of non-deliverable forward (NDF and the spot rate of USD/IDR against Bank Indonesia reference rate, Jakarta Interbank Spot Dollar Rate (JISDOR. NDF which came earlier than JISDOR is used by the market participant as the reference rate. The simple method of NDF determination had a great impact on the volatility of the rupiah currency, pushing the Bank Indonesia to issue its own reference currency. JISDOR is an indication of the rates issued by Bank Indonesia as the reference rate for the foreign exchange market in domestic and overseas. The method of creating the reference rate is by weighting the average rate of real transactions through a monitoring system which is managed by the central bank. However, the question arises: what should be done by the monetary authority when there is a party outside the jurisdiction issued the NDF rate as a benchmark that may affect the domestic exchange rate of rupiah in accordance with the desired agenda of the party. We use OLS and ARCH/GARCH to see if independent variables have an influence on dependent variable. Granger Causality test is also used to observe whether there are any relations among the variables.

  5. Synthetic river flow time series generator for dispatch and spot price forecast

    Energy Technology Data Exchange (ETDEWEB)

    Flores, R.A. [Chalmers Univ. of Technology, Gothenburg (Sweden). Signal Processing Dept.; Szczupak, J. [Pontifical Catholic Univ., Rio de Janeiro (Brazil). Electrical Engineering Dept.; Pinto, L. [Engenho, Rio de Janeiro (Brazil)

    2007-07-01

    Decision-making in electricity markets is complicated by uncertainties in demand growth, power supplies and fuel prices. In Peru, where the electrical power system is highly dependent on water resources at dams and river flows, hydrological uncertainties play a primary role in planning, price and dispatch forecast. This paper proposed a signal processing method for generating new synthetic river flow time series as a support for planning and spot market price forecasting. River flow time series are natural phenomena representing a continuous-time domain process. As an alternative synthetic representation of the original river flow time series, this proposed signal processing method preserves correlations, basic statistics and seasonality. It takes into account deterministic, periodic and non periodic components such as those due to the El Nino Southern Oscillation phenomenon. The new synthetic time series has many correlations with the original river flow time series, rendering it suitable for possible replacement of the classical method of sorting historical river flow time series. As a dispatch and planning approach to spot pricing, the proposed method offers higher accuracy modeling by decomposing the signal into deterministic, periodic, non periodic and stochastic sub signals. 4 refs., 4 tabs., 13 figs.

  6. Synthetic river flow time series generator for dispatch and spot price forecast

    International Nuclear Information System (INIS)

    Flores, R.A.

    2007-01-01

    Decision-making in electricity markets is complicated by uncertainties in demand growth, power supplies and fuel prices. In Peru, where the electrical power system is highly dependent on water resources at dams and river flows, hydrological uncertainties play a primary role in planning, price and dispatch forecast. This paper proposed a signal processing method for generating new synthetic river flow time series as a support for planning and spot market price forecasting. River flow time series are natural phenomena representing a continuous-time domain process. As an alternative synthetic representation of the original river flow time series, this proposed signal processing method preserves correlations, basic statistics and seasonality. It takes into account deterministic, periodic and non periodic components such as those due to the El Nino Southern Oscillation phenomenon. The new synthetic time series has many correlations with the original river flow time series, rendering it suitable for possible replacement of the classical method of sorting historical river flow time series. As a dispatch and planning approach to spot pricing, the proposed method offers higher accuracy modeling by decomposing the signal into deterministic, periodic, non periodic and stochastic sub signals. 4 refs., 4 tabs., 13 figs

  7. The pricing of natural gas in US markets

    International Nuclear Information System (INIS)

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

    1993-01-01

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

  8. [The spotted sterile male--a new mutation of dominant spotting on the mouse chromosome 5].

    Science.gov (United States)

    Blandova, Z K; Vakhrusheva, M P; Malashenko, A M; Osipov, V V

    1986-06-01

    Spotted sterile male - a new mutation in mice is described (tentative symbol Ssm). White spotting on the belly, legs and tail as well as sterility in heterozygous males Ssm/+ of the B10.M strain are caused by autosomal semidominant gene Ssm. The gene is localized on the 5 chromosome: the frequency of recombination between Ssm and go is 13.6 +/- 1.6%; Ssm is closely linked to Wv. The diheterozygotes Ssm+/+Wv are darkeyed white sterile mice. The deficiency of spermatogenic epithelium cells, emptyness of seminiferous tubules as well as interstitial tissue overgrowing occurred in the testis in sterile males Ssm/+ of B10.M. The fertile hybrid males Ssm/+ are obtained in outcrossing of females Ssm/+ of B10.M with males of YT/Y, CBA/CaY, DBA/2JY, A.CA/Y strains.

  9. Does the market maker stabilize the market?

    Science.gov (United States)

    Zhu, Mei; Chiarella, Carl; He, Xue-Zhong; Wang, Duo

    2009-08-01

    The market maker plays an important role in price formation, but his/her behavior and stabilizing impact on the market are relatively unclear, in particular in speculative markets. This paper develops a financial market model that examines the impact on market stability of the market maker, who acts as both a liquidity provider and an active investor in a market consisting of two types of boundedly rational speculative investors-the fundamentalists and trend followers. We show that the market maker does not necessarily stabilize the market when he/she actively manages the inventory to maximize profits, and that rather the market maker’s impact depends on the behavior of the speculators. Numerical simulations show that the model is able to generate outcomes for asset returns and market inventories that are consistent with empirical findings.

  10. Etika Marketing Syariah

    OpenAIRE

    Luqman Nurhisam

    2017-01-01

    Marketing activities (marketing) which is the activity of distributing goods and services ranging from producers to the hands of consumers. In this case there are some fundamental questions that encompass marketing activities (marketing); ranging from what is marketed, who is marketing, to how goods and services are marketed through the activities of marketing functions such as purchase, sales, transportation, and so forth. The problem that arises then is, most of the producers/the company wi...

  11. Marketing reporting system

    Directory of Open Access Journals (Sweden)

    Hanić Hasan M.

    2004-01-01

    Full Text Available The main components of a developed and good organized marketing information system are: internal reporting system, marketing reporting system, market research system and analytical marketing system. Marketing reporting system provides data and information about changes in business and micro marketing environment. This component of MIS ensures that marketing managers are up-to-date with what is going on, and to be informed about changes in company marketing environment.

  12. The dynamics of a nonlinear relationship between crude oil spot and futures prices. A multivariate threshold regression approach

    International Nuclear Information System (INIS)

    Huang, Bwo-Nung; Yang, C.W.; Hwang, M.J.

    2009-01-01

    This paper segments daily data from January of 1986 to April of 2007 into three periods based on certain important events. Both periods I and II indicate that the spot prices in general are higher than futures prices as was well-known in the literature. Only period-III (2001/9/11-2007/4/30) displays a reverse phenomenon: futures prices, in general, exceed spot prices. When the absolute value of a basis (futures-spot) is greater than the threshold value in the arbitrage area (regime 1 and 3), at least one of the error correction coefficients, representing adjustment towards equilibrium, is statistically significant. That is, there exists a tendency in the oil market in which prices move toward equilibrium. With respect to the short-run dynamic interaction between spot price change ((delta)s t ) and futures price change ((delta)f t ), our results indicate that when the spot price is higher than futures price, and the basis is less than certain threshold value (regime 3), there exists at least one causal relationship between (delta)s t and (delta)f t . Conversely, when the futures price is higher than spot price and the basis is higher than certain threshold value (regime 1), there exists at least one causal relationship between (delta)s t and (delta)f t . Finally, we use the method suggested by Diebold and Mariano [Diebold, Francis X., Mariano, Roberto S., 1995. Comparing predictive accuracy. Journal of Business and Economic Statistics 13 (3), 253-263] to compare the predictive power between the linear and nonlinear models. Our empirical results indicate that the in-sample prediction of the nonlinear model is clearly superior to that of the linear model. (author)

  13. The dynamics of a nonlinear relationship between crude oil spot and futures prices. A multivariate threshold regression approach

    Energy Technology Data Exchange (ETDEWEB)

    Huang, Bwo-Nung [Department of Economics and Center for IADF, National Chung Cheng University, Chiayi 621 (China); Department of Economics, West Virginia University, Morgantown, WV 26505-6025 (United States); Yang, C.W. [Department of Economics, Clarion University of Pennsylvania, Clarion, PA 16214-1232 (United States); Hwang, M.J. [Department of Economics, College of Business and Economics, West Virginia University, P. O. Box 6025, Morgantown, WV 26505-6025 (United States)

    2009-01-15

    This paper segments daily data from January of 1986 to April of 2007 into three periods based on certain important events. Both periods I and II indicate that the spot prices in general are higher than futures prices as was well-known in the literature. Only period-III (2001/9/11-2007/4/30) displays a reverse phenomenon: futures prices, in general, exceed spot prices. When the absolute value of a basis (futures-spot) is greater than the threshold value in the arbitrage area (regime 1 and 3), at least one of the error correction coefficients, representing adjustment towards equilibrium, is statistically significant. That is, there exists a tendency in the oil market in which prices move toward equilibrium. With respect to the short-run dynamic interaction between spot price change ({delta}s{sub t}) and futures price change ({delta}f{sub t}), our results indicate that when the spot price is higher than futures price, and the basis is less than certain threshold value (regime 3), there exists at least one causal relationship between {delta}s{sub t} and {delta}f{sub t}. Conversely, when the futures price is higher than spot price and the basis is higher than certain threshold value (regime 1), there exists at least one causal relationship between {delta}s{sub t} and {delta}f{sub t}. Finally, we use the method suggested by Diebold and Mariano [Diebold, Francis X., Mariano, Roberto S., 1995. Comparing predictive accuracy. Journal of Business and Economic Statistics 13 (3), 253-263] to compare the predictive power between the linear and nonlinear models. Our empirical results indicate that the in-sample prediction of the nonlinear model is clearly superior to that of the linear model. (author)

  14. Fatigue crack growth retardation in spot heated mild steel sheet

    Indian Academy of Sciences (India)

    Unknown

    Abstract. A fatigue crack can be effectively retarded by heating a spot near the crack tip under nil remote stress condition. The subcritical spot heating at a proper position modifies the crack growth behaviour in a way, more or less, similar to specimen subjected to overload spike. It is observed that the extent of crack.

  15. Fatigue crack growth retardation in spot heated mild steel sheet

    Indian Academy of Sciences (India)

    Spot heating; overloading; fatigue crack growth retardation; residual stress; delay cycles. ... It is observed that the extent of crack growth retardation increases with increasing level of overload as well as with increasing spot temperature. It is also ... Manuscript received: 29 November 2001; Manuscript revised: 24 June 2002 ...

  16. Inheritance of resistance to angular leaf spot in yellow beans ...

    African Journals Online (AJOL)

    Angular leaf spot (Phaeoisariopsis griseola (Sacc) is an important disease of common bean (Phaseolus vulgaris L.) in most parts of Africa, causing yield losses of 40-80%. This study was carried out to determine the inheritance of resistance to angular leaf spot in yellow beans. Biparental crosses were done between ...

  17. Spatial Analysis of Accident Spots Using Weighted Severity Index ...

    African Journals Online (AJOL)

    Weighted Severity Index (WSI) was created based on these factors/drivers. Also, Density-based Clustering for Traffic Accident Risk (DBCTAR) was carried out to assist in ascertaining the distribution of Black Spots Severity (BSS). Results obtained include: shortestpath analysis, service area analysis, accident spot severity ...

  18. Fatigue crack growth retardation in spot heated mild steel sheet

    Indian Academy of Sciences (India)

    A fatigue crack can be effectively retarded by heating a spot near the crack tip under nil remote stress condition. The subcritical spot heating at a proper position modifies the crack growth behaviour in a way, more or less, similar to specimen subjected to overload spike. It is observed that the extent of crack growth retardation ...

  19. Identification of electricity spot models by using convolution particle filter

    NARCIS (Netherlands)

    Aihara, ShinIchi; Bagchi, Arunabha; Imreizeeq, E.S.N.

    2011-01-01

    We consider a slight perturbation of the Schwartz-Smith model for the electricity futures prices and the resulting modied spot model. Using the martingale property of the modied price under the risk neutral measure, we derive the arbitrage free model for the spot and futures prices. As the futures

  20. Food habits of Mexican Spotted Owls in Arizona

    Science.gov (United States)

    Joseph L. Ganey

    1992-01-01

    The Spotted Owl (Strix occidentalis) is most common in mature and old-growth coniferous forests throughout much of its range (Forsman et al. 1984, Laymon 1988, Ganey and Balda 1989a, Thomas et al. 1990). Proximate factors underlying habitat selection in Spotted Owls are understood poorly. Abundance and availability of food, however, may be a key...

  1. Spotted owl roost and nest site selection in northwestern California

    Science.gov (United States)

    J.A. Blakesley; A.B. Franklin; R.J. Gutierrez

    1992-01-01

    We directly observed roost and nest site selection in a population of northern spotted owls (Strix occidentalis caurina) in northwestern California during 1985-89. Because of potential biases caused by use of radio telemetry in previous studies, we examined habitat use relative to habitat availability at a level not previously reported for spotted...

  2. Different methods of fluoride delivery in prevention of white spot ...

    African Journals Online (AJOL)

    Orthodontic patients on fixed appliances are at an increased risk of developing white spot lesions which can progress to frank cavitations. Fluoride application in different forms has been shown to be effective in the reduction of formation of white spot lesions. The aim of this short communication is to discuss different ...

  3. Nucleus geometry and mechanical properties of resistance spot ...

    Indian Academy of Sciences (India)

    Abstract. In this study, mechanical properties of resistance spot welding of DP450 and DP600, galvanized and ungalvanized automotive sheets have been investigated. The specimens have been joined by resistance spot welding at different weld currents and times. Welded specimens have been examined for their ...

  4. Estimates of age, growth and mortality of spotted catfish, Arius ...

    African Journals Online (AJOL)

    Spotted catfish is a benthic species that can be found abundantly off the coast of Yunlin in southwestern Taiwan. Its biological parameters are little known. In this study, life history parameters of this species were estimated using samples caught by bottom trawling. The spotted catfish was the major bycatch species which ...

  5. Laser Beam Caustic Measurement with Focal Spot Analyser

    DEFF Research Database (Denmark)

    Olsen, Flemming Ove; Gong, Hui; Bagger, Claus

    2005-01-01

    In industrial applications of high power CO2-lasers the caustic characteristics of the laser beam have great effects on the performance of the lasers. A welldefined high intense focused spot is essential for reliable production results. This paper presents a focal spot analyser that is developed...... for measuring the beam profiles of focused high power CO2-lasers....

  6. Treatment of White Spot Lesions with Icon (Resin Infiltration)

    Science.gov (United States)

    2017-03-23

    FROM: 59 MDW/SGVU SUBJECT: Professional Presentation Approval 8 MAR2017 1. Your paper, entitled T reatment of White Spot Lesions with Icon ( Resin ... Resin Infiltration) 6. TITLE OF MATERIAL TO BE PUBLISHED OR PRESENTED: Treatment of White Spot lesions with Icon ( Resin In filtration) 7. FUNDING

  7. Characterizing and identifying black spot resistance genes in polyploid roses

    Science.gov (United States)

    The ornamental quality of outdoor grown roses (Rosa hybrida) is under constant threat from foliar diseases, such as black spot caused by Diplocarpon rosae. Fungicides are primarily used to manage black spot; however, there is a high consumer demand for disease resistant roses which eliminate the nee...

  8. Alternaria leaf spot of sugar beet: factors associated with risk

    Science.gov (United States)

    Recently, increased incidence and severity of Alternaria leaf spot has been observed in Michigan and other growing regions. In the past, Alternaria leaf spot in sugar beet has been a minor foliar disease issue in the United States and management of this disease usually has not been required. If seve...

  9. inheritance of resistance to angular leaf spot in yellow beans ...

    African Journals Online (AJOL)

    Prof. Adipala Ekwamu

    Susceptible. II -indeterminate erect; III -indeterminate semi-prostate; ALS = Angular leaf spot. Isolation of Phaeoisariopsis griseola and plant inoculation. Isolation of angular leaf spot was made from lesions of naturally infected bean leaves showing fungal sporulation. In the case of non-sporulating lesions, the fungus was.

  10. Parameter estimation of electricity spot models from futures prices

    NARCIS (Netherlands)

    Aihara, ShinIchi; Bagchi, Arunabha; Imreizeeq, E.S.N.; Walter, E.

    We consider a slight perturbation of the Schwartz-Smith model for the electricity futures prices and the resulting modified spot model. Using the martingale property of the modified price under the risk neutral measure, we derive the arbitrage free model for the spot and futures prices. We estimate

  11. Firebrands and spotting ignition in large-scale fires

    Science.gov (United States)

    Eunmo Koo; Patrick J. Pagni; David R. Weise; John P. Woycheese

    2010-01-01

    Spotting ignition by lofted firebrands is a significant mechanism of fire spread, as observed in many largescale fires. The role of firebrands in fire propagation and the important parameters involved in spot fire development are studied. Historical large-scale fires, including wind-driven urban and wildland conflagrations and post-earthquake fires are given as...

  12. Current rules and state of readiness of the competitive market

    International Nuclear Information System (INIS)

    Campbell, B.

    2001-01-01

    The focus of this presentation was on the governance, operation and regulation of the Independent Market Operator (IMO) in a competitive electricity market in Ontario. The presentation also included an update on the progress toward market readiness and discussed the principles guiding government decision making, recognizing that it is government that holds the decision on the market opening date. The IMO has been running Ontario's bulk electric system for more than 50 years, overseeing its safe and reliable operation while balancing demand and supply. IMOs are also leading the drive to a competitive, deregulated wholesale electricity marketplace in Ontario. When open, IMOs will run the electricity spot market, collecting offers from suppliers and bids from purchasers to determine a spot market price for electricity which will reflect demand across the province. Rules and processes are being developed to ensure the Ontario marketplace will operate to benefit both consumers and producers. The four principles guiding governments in the opening of electricity markets are to protect consumers and offer more choice, ensure a strong business climate with a reliable supply of electricity, to protect the environment, and to support alternative sources of power

  13. The evolution of hard coal trade in the Pacific market

    International Nuclear Information System (INIS)

    Ekawan, Rudianto; Duchene, Michel; Goetz, Damien

    2006-01-01

    This article analyses the evolution of hard coal trade in the Asia Pacific region, known as the Pacific market, from the 1980s to the present years. It investigates the development of the trade pattern, the nature of contracts, the price setting, the supply demand and the future of trade. Over the last two decades, the international trade in the Pacific market has achieved dramatic increases in coal commerce. This achievement is due to strong demand in Japan and North-east Asian countries and progressive coal export in Australia and Indonesia. It is likely that this market will continue to expand and become a more important market in replacing the Atlantic market. In this market, historically, long-term supply contracts were usual and concluded between producer and consumer. Even recently, there are still annual contracts, but with a small number of deals. In contrast, spot transactions are now becoming more important. Previously, Japan had been influential in price setting by establishing 'a benchmark price' with Australian coal suppliers. Afterward 'a reference price' was becoming a trend. Nowadays, spot price indices, such as the Barlow Jonker, the Barlow Jonker ACR and globalCOAL, have become important to set the price. The Pacific market growth is not without problems. The exporter countries, particularly Australia and Indonesia, have some challenges that if they are not resolved at present, it would implicate the performance of the coal trade

  14. Optimization of resistance spot welding parameters for microalloyed steel sheets

    Science.gov (United States)

    Viňáš, Ján; Kaščák, Ľuboš; Greš, Miroslav

    2016-11-01

    The paper presents the results of resistance spot welding of hot-dip galvanized microalloyed steel sheets used in car body production. The spot welds were made with various welding currents and welding time values, but with a constant pressing force of welding electrodes. The welding current and welding time are the dominant characteristics in spot welding that affect the quality of spot welds, as well as their dimensions and load-bearing capacity. The load-bearing capacity of welded joints was evaluated by tensile test according to STN 05 1122 standard and dimensions and inner defects were evaluated by metallographic analysis by light optical microscope. Thewelding parameters of investigated microalloyed steel sheets were optimized for resistance spot welding on the pneumatic welding machine BPK 20.

  15. Ultrasonic assessment of tension shear strength in resistance spot welding

    Science.gov (United States)

    Moghanizadeh, Abbas

    2015-05-01

    Resistance spot welding is extensively used to join sheet steel in the automotive industry. Ultrasonic non-destructive techniques for evaluation of the mechanical properties of resistance spot welding are presented. The aim of this study is to develop the capability of the ultrasonic techniques as an efficient tool in the assessment of the welding characterization. Previous researches have indicated that the measurements of ultrasonic attenuation are sensitive to grain- size variations in an extensive range of metallic alloys. Other researchers have frequently described grain sizes which are able to have significant effects on the physical characteristics of the material. This research provides a novel method to estimate the tension-shear strengths of the resistance spot welding directly from the ultrasonic attenuation measurements. The effects of spot welding parameters on the ultrasonic waves are further investigated. The results confirm that it is possible to determine the spot welding parameters for individual quality by using ultrasonic test.

  16. Reliability of copper based alloys for electric resistance spot welding

    International Nuclear Information System (INIS)

    Jovanovicj, M.; Mihajlovicj, A.; Sherbedzhija, B.

    1977-01-01

    Durability of copper based alloys (B-5 and B-6) for electric resistance spot-welding was examined. The total amount of Be, Ni and Zr was up to 2 and 1 wt.% respectively. Good durability and satisfactory quality of welded spots were obtained in previous laboratory experiments carried out on the fixed spot-welding machine of an industrial type (only B-5 alloy was examined). Electrodes made of both B-5 and B-6 alloy were tested on spot-welding grips and fixed spot-welding machines in Tvornica automobila Sarajevo (TAS). The obtained results suggest that the durability of electrodes made of B-5 and B-6 alloys is more than twice better than of that used in TAS

  17. Marketing Maps: Illustrating How Marketing Works

    Science.gov (United States)

    Gyure, James F.; Arnold, Susan G.

    2003-01-01

    Today's colleges and universities may tolerate the "idea" of marketing more easily, but marketers must continue to educate campus communities about marketing theories and practice. To promote a useful appreciation of how theories translate into initiatives, we propose incorporating "marketing maps"-user-friendly graphic representations of how…

  18. Meteorology of Jupiter's Equatorial Hot Spots and Plumes from Cassini

    Science.gov (United States)

    Choi, David Sanghun; Showman, Adam P.; Vasavada, Ashwin R.; Simon-Miller, Amy A.

    2013-01-01

    We present an updated analysis of Jupiter's equatorial meteorology from Cassini observations. For two months preceding the spacecraft's closest approach, the Imaging Science Subsystem (ISS) onboard regularly imaged the atmosphere. We created time-lapse movies from this period in order to analyze the dynamics of equatorial hot spots and their interactions with adjacent latitudes. Hot spots are relatively cloud-free regions that emit strongly at 5 lm; improved knowledge of these features is crucial for fully understanding Galileo probe measurements taken during its descent through one. Hot spots are quasistable, rectangular dark areas on visible-wavelength images, with defined eastern edges that sharply contrast with surrounding clouds, but diffuse western edges serving as nebulous boundaries with adjacent equatorial plumes. Hot spots exhibit significant variations in size and shape over timescales of days and weeks. Some of these changes correspond with passing vortex systems from adjacent latitudes interacting with hot spots. Strong anticyclonic gyres present to the south and southeast of the dark areas appear to circulate into hot spots. Impressive, bright white plumes occupy spaces in between hot spots. Compact cirrus-like 'scooter' clouds flow rapidly through the plumes before disappearing within the dark areas. These clouds travel at 150-200 m/s, much faster than the 100 m/s hot spot and plume drift speed. This raises the possibility that the scooter clouds may be more illustrative of the actual jet stream speed at these latitudes. Most previously published zonal wind profiles represent the drift speed of the hot spots at their latitude from pattern matching of the entire longitudinal image strip. If a downward branch of an equatorially-trapped Rossby wave controls the overall appearance of hot spots, however, the westward phase velocity of the wave leads to underestimates of the true jet stream speed.

  19. Pricing Natural Gas. The Outlook for the European Market (Summary)

    International Nuclear Information System (INIS)

    2008-01-01

    Long-term gas supply contracts contain price formulae, in which the gas price is usually linked to the price of another commodity, or to the spot price of gas in a particular market. In continental Europe the gas price in international long-term supply contracts is predominantly linked to oil products. At the same time, spot markets for gas in which gas prices are determined by supply and demand are developing in various EU markets. This paper addresses the question of to what extent the traditional form of oil-based price indexation is sustainable and/or will be sustained by the market players. It discusses the considerations the market players may have in favour of one or the other form of indexation, the external forces that may influence the choice of indexation in the short and longer terms and the consequences of change. It argues that pricing systems are a fundamental part of a market organisation, and that a shift to different pricing structures only happens if and when the main actors are convinced that they understand and accept the consequences of such change. It concludes that there is no strong evidence that the current hybrid situation, in which both forms of gas pricing co-exist, cannot continue. There are also no overriding reasons to intervene in the market practices of price formation. Both systems have their advantages and disadvantages under different market conditions, and to some extent complement each other in the current markets. Different types of risk and the appreciation thereof by the trading parties will determine particular choices of pricing rules and contracting conditions. More importantly, in today's market, in which new supplies are slow to come forward, the choice should be left to the market parties, particularly as sellers and buyers do not seem to be in strong disagreement

  20. Wood ant nests as hot spots of carbon dioxide production and cold spots of methane oxidation in temperate forests

    Czech Academy of Sciences Publication Activity Database

    Jílková, Veronika; Picek, T.; Cajthaml, Tomáš; Frouz, Jan

    2016-01-01

    Roč. 18, April (2016), EGU2016-4634 ISSN 1607-7962. [European Geosciences Union General Assembly 2016. 17.04.2016-22.04.2016, Vienna] Institutional support: RVO:60077344 ; RVO:61388971 Keywords : wood ant nests * hot spots of carbon dioxide production * cold spots of methane oxidation * temperate forests Subject RIV: DF - Soil Science

  1. The internal marketing in enterprise marketing system

    OpenAIRE

    I.L. Reshetnikova

    2015-01-01

    The aim of the article. The aim of the article is to summarize the scientific approaches defining the essence of the concept of «internal marketing» and determining their place in the marketing company. The results of the analysis. The theoretical development of foreign and local scientists concerning about internal marketing nature and its role in the marketing of the company has been analyzed. Applying the principles of a systematic approach for analysis of marketing allowed to select it...

  2. Relationship Marketing in Legal Services Marketing Strategy

    OpenAIRE

    Audronė Androšiūnaitė; Borisas Melnikas

    2013-01-01

    The article defines the concept of professional services and evaluates the extent, to which legal services could be understood as professional services. In addition, literature analysis in the relationship marketing is presented as well as conclusions on the method for the use of relationship marketing in the development of legal services marketing strategy. Strategies of professional services marketing are completely different from other services marketing because of relations with current c...

  3. Energy market and investment - political economy of supply security in the market of energy

    International Nuclear Information System (INIS)

    Leban, R.

    2005-01-01

    A market structure that appears to be adapted to achieving a supply security purpose in the sectors of oil power and gas, is an organisation where upstream energy markets include industrial players of adequate sizes involved downstream and where futures exchanges prevail at prices translating anticipations on 'basics' since spot markets are more of adjustment markets. Policy weighs hugely on those markets. The extra competition lately instilled in the electrical and gas markets in developed countries results in no decrease, as complicated exchange rules need to be thought up and the market power needs to be monitored. Political intervention is also carried out in the name of environmental policies, in a strong interaction with the operation of the said markets and therefore with a not insignificant risk of disruption. The oil market is a highly political one, since the key to exchanges, i.e. access to primary resources, is played between producing countries and huge oil and gas companies close to consuming countries. There is a strong temptation in the electrical sector, to add security policies in order to prevail over the market. Gas, which is oil upstream and electrical downstream, requires, in consuming countries, a delicate balance of policies to support operators as buyers and to control the same operators as players of the gas- gas competition. The prognosis on the market's ability to provide safe supply efficiently to citizens if security policies are implemented is rather good in areas where demand is moderately growing and networks are developed. It is however not as good in areas where there are high needs for production and transport investments, i.e. in countries that are developing now, and will be...in Europe soon. (author)

  4. An Analysis of Colombian Power Market Price Behavior from an Industrial Organization Perspective

    Directory of Open Access Journals (Sweden)

    Ona Duarte Venslauskas

    2015-12-01

    Full Text Available We analyze the behavior of spot prices in the Colombian wholesale power market, using a series of models derived from industrial organization theory.  We first create a Cournot-based model that simulates the strategic behavior of the market-leader power generators, which we use to estimate two industrial organization variables, the Index of Residual Demand and the Herfindahl-Hirschman Index (HHI.  We use these variables to create VAR models that estimate spot prices and power market impulse-response relationships.  The results from these models show that hydroelectric generators can use their water storage capability strategically to affect off-peak prices primarily, while the thermal generators can manage their capacity strategically to affect on-peak prices.  In addition, shocks to the Index of Residual Capacity and to the HHI cause spot price fluctuations, which can be interpreted as the generators´ strategic response to these shocks.

  5. Analysis of blood spots for polyfluoroalkyl chemicals

    Energy Technology Data Exchange (ETDEWEB)

    Kato, Kayoko; Wanigatunga, Amal A.; Needham, Larry L. [Division of Laboratory Sciences, National Center for Environmental Health, Centers for Disease Control and Prevention, Atlanta, GA (United States); Calafat, Antonia M., E-mail: acalafat@cdc.gov [Division of Laboratory Sciences, National Center for Environmental Health, Centers for Disease Control and Prevention, Atlanta, GA (United States)

    2009-12-10

    Polyfluoroalkyl chemicals (PFCs) have been detected in humans, in the environment, and in ecosystems around the world. The potential for developmental and reproductive toxicities of some PFCs is of concern especially to children's health. In the United States, a sample of a baby's blood, called a 'dried blood spot' (DBS), is obtained from a heel stick within 48 h of a child's birth. DBS could be useful for assessing prenatal exposure to PFCs. We developed a method based on online solid phase extraction coupled with high performance liquid chromatography-isotope dilution tandem mass spectrometry for measuring four PFCs in DBS, perfluorooctane sulfonate (PFOS), perfluorohexane sulfonate, perfluorooctanoate (PFOA), and perfluorononanoate. The analytical limits of detection using one whole DBS ({approx}75 {mu}L of blood) were <0.5 ng mL{sup -1}. To validate the method, we analyzed 98 DBS collected in May 2007 in the United States. PFOS and PFOA were detected in all DBS at concentrations in the low ng mL{sup -1} range. These data suggest that DBS may be a suitable matrix for assessing perinatal exposure to PFCs, but additional information related to sampling and specimen storage is needed to demonstrate the utility of these measures for assessing exposure.

  6. Review: magnetically assisted resistance spot welding

    Energy Technology Data Exchange (ETDEWEB)

    Li, Y. B. [Shanghai Jiao Tong Univ., Shanghai (China); Li, D. L. [Shanghai Jiao Tong Univ., Shanghai (China); Lin, Z. Q. [Shanghai Jiao Tong Univ., Shanghai (China); David, Stan A. [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Feng, Zhili [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Tang, Wei [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)

    2016-02-25

    Currently, the use of advanced high strength steels (AHSSs) is the most cost effective means of reducing vehicle body weight and maintaining structural integrity at the same time. However, AHSSs present a big challenge to the traditional resistance spot welding (RSW) widely applied in automotive industries because the rapid heating and cooling procedures during RSW produce hardened weld microstructures, which lower the ductility and fatigue properties of welded joints and raise the probability of interfacial failure under external loads. Changing process parameters or post-weld heat treatment may reduce the weld brittleness, but those traditional quality control methods also increase energy consumption and prolong cycle time. In recent years, a magnetically assisted RSW (MA-RSW) method was proposed, in which an externally applied magnetic field would interact with the conduction current to produce a Lorentz force that would affect weld nugget formation. This paper is a review of an experimental MA-RSW platform, the mode of the external magnetic field and the mechanism that controls nugget shape, weld microstructures and joint performance. In conclusion, the advantages of the MA-RSW method in improving the weldability of AHSSs are given, a recent application of the MA-RSW process to light metals is described and the outlook for the MA-RSW process is presented.

  7. Turbulent Spot Pressure Fluctuation Wave Packet Model

    Energy Technology Data Exchange (ETDEWEB)

    Dechant, Lawrence J. [Sandia National Lab. (SNL-NM), Albuquerque, NM (United States)

    2017-05-01

    Wave packet analysis provides a connection between linear small disturbance theory and subsequent nonlinear turbulent spot flow behavior. The traditional association between linear stability analysis and nonlinear wave form is developed via the method of stationary phase whereby asymptotic (simplified) mean flow solutions are used to estimate dispersion behavior and stationary phase approximation are used to invert the associated Fourier transform. The resulting process typically requires nonlinear algebraic equations inversions that can be best performed numerically, which partially mitigates the value of the approximation as compared to a more complete, e.g. DNS or linear/nonlinear adjoint methods. To obtain a simpler, closed-form analytical result, the complete packet solution is modeled via approximate amplitude (linear convected kinematic wave initial value problem) and local sinusoidal (wave equation) expressions. Significantly, the initial value for the kinematic wave transport expression follows from a separable variable coefficient approximation to the linearized pressure fluctuation Poisson expression. The resulting amplitude solution, while approximate in nature, nonetheless, appears to mimic many of the global features, e.g. transitional flow intermittency and pressure fluctuation magnitude behavior. A low wave number wave packet models also recover meaningful auto-correlation and low frequency spectral behaviors.

  8. Mediterranean spotted fever in southeastern Romania.

    Science.gov (United States)

    Pitigoi, Daniela; Olaru, Ioana D; Badescu, Daniela; Rafila, Alexandru; Arama, Victoria; Hristea, Adriana

    2013-01-01

    Although cases of Mediterranean spotted fever (MSF) have been reported for decades in southeastern Romania, there are few published data. We retrospectively studied 339 patients, diagnosed with MSF at the National Institute of Infectious Diseases "Prof. Dr. Matei Bals" between 2000 and 2011, in order to raise awareness about MSF in certain regions of Romania. According to the Raoult diagnostic criteria 171 (50.4%) had a score >25 points. Mean age was 52.5 years. One hundred and fifty-five (90.6%) patients were from Bucharest and the surrounding region. Almost all patients presented with fever (99.4%) and rash (98.2%), and 57.9% had evidence of a tick bite. There were no recorded deaths. Serologic diagnosis was made by indirect immunofluorescence assay. Of the 171 patients, serology results for R. conorii were available in 147. One hundred and twenty-three (83.7%) of them had a titer IgG ≥1:160 or a fourfold increase in titer in paired samples. MSF is endemic in southeastern Romania and should be considered in patients with fever and rash even in the absence of recognized tick exposure. Since the disease is prevalent in areas highly frequented by tourists, travel-associated MSF should be suspected in patients with characteristic symptoms returning from the endemic area.

  9. Mediterranean Spotted Fever in Southeastern Romania

    Directory of Open Access Journals (Sweden)

    Daniela Pitigoi

    2013-01-01

    Full Text Available Although cases of Mediterranean spotted fever (MSF have been reported for decades in southeastern Romania, there are few published data. We retrospectively studied 339 patients, diagnosed with MSF at the National Institute of Infectious Diseases “Prof. Dr. Matei Bals” between 2000 and 2011, in order to raise awareness about MSF in certain regions of Romania. According to the Raoult diagnostic criteria 171 (50.4% had a score >25 points. Mean age was 52.5 years. One hundred and fifty-five (90.6% patients were from Bucharest and the surrounding region. Almost all patients presented with fever (99.4% and rash (98.2%, and 57.9% had evidence of a tick bite. There were no recorded deaths. Serologic diagnosis was made by indirect immunofluorescence assay. Of the 171 patients, serology results for R. conorii were available in 147. One hundred and twenty-three (83.7% of them had a titer IgG ≥1 : 160 or a fourfold increase in titer in paired samples. MSF is endemic in southeastern Romania and should be considered in patients with fever and rash even in the absence of recognized tick exposure. Since the disease is prevalent in areas highly frequented by tourists, travel-associated MSF should be suspected in patients with characteristic symptoms returning from the endemic area.

  10. Finite Cosmology and a CMB Cold Spot

    Energy Technology Data Exchange (ETDEWEB)

    Adler, R.J.; /Stanford U., HEPL; Bjorken, J.D.; /SLAC; Overduin, J.M.; /Stanford U., HEPL

    2006-03-20

    The standard cosmological model posits a spatially flat universe of infinite extent. However, no observation, even in principle, could verify that the matter extends to infinity. In this work we model the universe as a finite spherical ball of dust and dark energy, and obtain a lower limit estimate of its mass and present size: the mass is at least 5 x 10{sup 23}M{sub {circle_dot}} and the present radius is at least 50 Gly. If we are not too far from the dust-ball edge we might expect to see a cold spot in the cosmic microwave background, and there might be suppression of the low multipoles in the angular power spectrum. Thus the model may be testable, at least in principle. We also obtain and discuss the geometry exterior to the dust ball; it is Schwarzschild-de Sitter with a naked singularity, and provides an interesting picture of cosmogenesis. Finally we briefly sketch how radiation and inflation eras may be incorporated into the model.

  11. Profitable marketing: marketing for non marketing managers. Ceuta Healthcare

    OpenAIRE

    Kilburn, David

    2005-01-01

    This workshop was conducted with 20 Managers from Ceuta Healthcare to raise their awareness of the power of marketing and give them a set of marketing tools to improve the success rate of their business development activities

  12. THE PROCESS OF SHORT-TERM AND LONG-TERM PRICE INTEGRATION IN THE BENIN MAIZE MARKET

    NARCIS (Netherlands)

    LUTZ, C; VANTILBURG, A; VANDERKAMP, BJ

    1995-01-01

    This paper reviews the methodology used to study the price integration process in spatially separated spot markets, and applies if to the Benin maize market. An Autoregressive Distributed Lag Model is derived to take into account the sluggishness of price adjustments. Hypothesis testing concerns

  13. The impact of derivatives on Malaysian stock market

    Science.gov (United States)

    Malim, M. R.; Halim, F. A.; Murad, A.; Maad, H. A.; Annuar, N. F. M.

    2017-09-01

    The essential of derivatives has been discovered by researchers over recent decade. However, the conclusions made regarding the impact of derivatives on stock market volatility remains debatable. The main objective of this study is to examine the impact of derivatives on Malaysian stock market volatility by exploring FTSE Bursa Malaysia Kuala Lumpur Composite Index Futures (BMD FKLI) using FBM KLCI as the underlying asset. Generalized Autoregressive Conditional Heteroskedasticity (GARCH) (1, 1) model was employed to realize the objective. The results have shown that the introduction of futures trading has decreased the volatility of Malaysian stock market. The volatility increased vigorously during the Asian financial crisis compared to the Global financial crisis. However, the role of futures as a risk transfer is agreed as it could improve the market by decreasing the volatility in the spot market.

  14. Adaptive Portfolio Optimization for Multiple Electricity Markets Participation

    DEFF Research Database (Denmark)

    Pinto, Tiago; Morais, Hugo; Sousa, Tiago M.

    2016-01-01

    , in different contexts. The price forecasts are performed using artificial neural networks, providing a specific database with the expected prices in the different market types, at each time. This database is then used as input by an evolutionary particle swarm optimization process, which originates the most...... as the most suitable solution to facilitate the small players' participation in electric power negotiations while improving energy efficiency. The opportunity for players' participation in multiple energy negotiation environments (smart grid negotiation in addition to the already implemented market types......, such as day-ahead spot markets, balancing markets, intraday negotiations, bilateral contracts, forward and futures negotiations, and among other) requires players to take suitable decisions on whether to, and how to participate in each market type. This paper proposes a portfolio optimization methodology...

  15. MARKETING INFORMACIJA

    OpenAIRE

    Mecanović, Ivan

    1991-01-01

    Informacija se sve više pojavljuje kao roba na tržištu. Bez obzira ima li ona status medijske vijesti, ili informacije, koja se dobiva iz informatičkog sistema, informacija se proizvodi; sortira, čuva i lansira, te na taj način postaje proizvod, koji ima svoju cijenu koštanja, kao i svoju prodajnu cijenu, svoje potrošače i svoje tržište. Zbog toga je potrebno stvarati i marketing informacija. No, informacija je specifična roba osobne potrošnje. Korištenjem, ili spoznajnošču informacije od poj...

  16. Marketized philanthropy

    DEFF Research Database (Denmark)

    Bajde, Domen

    2013-01-01

    attention has been devoted to the ways in which the newly emergent philanthropic ideologies and practices are ‘marketed’ to and adopted by the broader audience of philanthropic givers. In response, we explore the ideological elements that make lending through Kiva, an emergent microfinance charity......As the impact of market actors and their doctrines on philanthropy gradually increases, the debate between the proponents and the critics of ‘marketization’ of philanthropy intensifies. Curiously, the debate has largely centred on ‘philanthrocapitalists’ and philanthropic professionals, while less......, meaningful to its creators and supporters. A combination of interpretive methods is used to outline Kiva’s ideology of entrepreneurial philanthropy. This utopian ideology is found to legitimize ‘marketized’ philanthropic practices by invoking alternative conceptions of poverty, social progress...

  17. The Marketing Concept

    OpenAIRE

    G. Nazan Gunay

    2001-01-01

    Since the term "Market Orientation" is recognised as the critical factor in business success there has been an overwhelming increase in research issues linking market orientation with company performance. The term market orientation has been employed by scholars to indicate the implementation of the marketing concept. In order to understand market orientation, one believes that there is a need to recall what the marketing concept is. Therefore, this study reviews the "marketing concept" as a ...

  18. Marketing Auditing Services

    OpenAIRE

    Tuomivirta, Olga

    2009-01-01

    The study is done as a part of a bachelor’s study in Marketing at Laurea University of Applied Sciences. Marketing as a science appeared more than 50 years ago and is still developing. The purpose of the thesis work is to collect knowledge via marketing research, to understand how marketing is implemented by the case company–provider and compare the result to professional services marketing theory. Marketing professional services is difficult because services differ from goods. Marketing ...

  19. Social Guerilla marketing

    OpenAIRE

    Hejkalová, Tereza

    2011-01-01

    The diploma thesis deals with the social guerrilla marketing and its aim is to analyze the social guerrilla campaigns and to evaluate the suitability of the guerilla marketing for the social issues. The theoretical part describes marketing communications, new trends in communication, including guerrilla marketing, and also social marketing and social guerrilla marketing. The practical part includes the market research of guerrilla campaigns. The chosen campaigns are introduced and afterwards ...

  20. Comparison of outcomes between overlapping-spot and single-spot photodynamic therapy for circumscribed choroidal hemangioma

    Directory of Open Access Journals (Sweden)

    Zhao-An Su

    2014-02-01

    Full Text Available AIM:To compare the efficacy and safety of photodynamic therapy (PDT with overlapping multiple spots and single spot for treating circumscribed choroidal hemangioma.METHODS:Twenty-two patients (22 eyes with symptomatic circumscribed choroidal hemangioma received PDT treatment. Fourteen patients received overlapping spots (two to three spots PDT, whereas eight patients received single-spot PDT. Laser was used at 50J/cm2 for 83s in the overlapping-spot group and 50J/cm2 for 166s in the single-spot group. Clinical examination, funduscopy, fluorescein angiography, and ultrasonography were performed at baseline and after treatment.RESULTS:The mean follow-up time was 28.5±8.0 months in the overlapping-spot group and 27.0±5.0 months in the single-spot group. Nine patients (64.2% had their vision improved over two lines on the Snellen chart, and five patients showed stable visual acuity in the overlapping-spot group. The mean thickness of tumor decreased from 2.7±0.8mm to 1.2±0.9mm, and the mean greatest tumor linear dimension decreased from 7.4±1.5mm to 4.5±3.5mm after treatment. In the single-spot group, two patients (25% had their vision improved over two lines on the Snellen chart, and six patients had unchanged stable vision. The mean tumor thickness in this group decreased from 2.5±0.7mm to 1.4±1.0mm, and the mean greatest tumor linear dimension decreased from 7.2±1.3mm to 4.7±3.6mm. No significant differences in visual improvement and tumor regression were found between the two groups.CONCLUSION: Overlapping-spot PDT under appropriate treatment parameters and strategies is as effective and safe as single-spot PDT for treating symptomatic circumscribed choroidal hemangioma. Improved or stabilized visual acuity was achieved as a result of tumor regression.