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Sample records for transfer pricing principles

  1. Transfer Pricing Principles

    DEFF Research Database (Denmark)

    Jensen, Dennis Ramsdahl

    Konferencebidraget indeholder en kritisk analyse af transfer pricing reglerne på henholdsvis moms og indkomstskatterettens område med henblik på en diskussion af, det er hensigtsmæssigt med en harmonisering af reglerne på tværs af de to retsområder...

  2. Transfer pricing principles in VAT Law

    DEFF Research Database (Denmark)

    Jensen, Dennis Ramsdahl

    2011-01-01

    The main part of the article is devoted to a critical analysis of the optional transfer pricing provisions in the EC VAT Directive in the light of the principle of fiscal neutrality. As an integrated part of this analysis, the VAT transfer pricing regime is considered in the light of the well......-known principles for transfer pricing in the area of income tax law, as set out in Art. 9 of the OECD Model Tax Convention. The last part of the article contains a brief discussion of to which extent it is desirable to harmonize the two tax systems´ transfer pricing rules....

  3. Transfer Pricing Principles VAT/GST v. Direct Taxation

    DEFF Research Database (Denmark)

    Jensen, Dennis Ramsdahl

    2009-01-01

    In this paper the optional transfer pricing provisions in the EC VAT Directive [1] are subject to a more detailed analysis, with a view to considering them in the light of the well-known principles for transfer pricing in the area of income tax law, as set out in Art. 9 of the OECD Model Tax Conv...

  4. Transfer Pricing

    OpenAIRE

    Larsen, Mads Grenaa; Nørgaard, Mads Frid; Hansen, Manjarita

    2013-01-01

    This project seeks to highlight some of the criticisms given towards the OECD Transfer Pricing Guidelines and the challenges Danish companies experience by pricing their goods and the problems this causes for trade. The project is based on a series of interviews that represent the different agents who are operating in Transfer Pricing business. These interviews, combined with the Transfer Pricing Guidelines, gives us the basis to analyse the challenges we want to clarify based on the hypothes...

  5. Transfer Pricing

    DEFF Research Database (Denmark)

    Rohde, Carsten; Rossing, Christian Plesner

    trade internally as the units have to decide what prices should be paid for such inter-unit transfers. One important challenge is to uncover the consequences that different transfer prices have on the willingness in the organizational units to coordinate activities and trade internally. At the same time...... the determination of transfer price will affect the size of the profit or loss in the organizational units and thus have an impact on the evaluation of managers‟ performance. In some instances the determination of transfer prices may lead to a disagreement between coordination of the organizational units...

  6. Transfer Pricing

    DEFF Research Database (Denmark)

    Rohde, Carsten; Rossing, Christian Plesner

    trade internally as the units have to decide what prices should be paid for such inter-unit transfers. One important challenge is to uncover the consequences that different transfer prices have on the willingness in the organizational units to coordinate activities and trade internally. At the same time...

  7. Transfer Pricing

    DEFF Research Database (Denmark)

    Nielsen, Søren Bo

    2014-01-01

    Against a background of rather mixed evidence about transfer pricing practices in multinational enterprises (MNEs) and varying attitudes on the part of tax authorities, this paper explores how multiple aims in transfer pricing can be pursued across four different transfer pricing regimes. A MNE has...... a production subsidiary in one country, from where it sells the produced good locally as well as to a sales subsidiary in a second country. The latter subsidiary is engaged in duopolistic competition with a local competitor. The MNE has two aims in setting the transfer price: strategic delegation and tax...... minimization. We examine the extent to which the four transfer pricing regimes we set up allow the MNE to pursue these aims. While neither strategic delegation nor tax minimization will be eliminated, trade-offs are inevitable, albeit to varying degree....

  8. Transfer Pricing

    DEFF Research Database (Denmark)

    Nielsen, Søren Bo

    2014-01-01

    a production subsidiary in one country, from where it sells the produced good locally as well as to a sales subsidiary in a second country. The latter subsidiary is engaged in duopolistic competition with a local competitor. The MNE has two aims in setting the transfer price: strategic delegation and tax......Against a background of rather mixed evidence about transfer pricing practices in multinational enterprises (MNEs) and varying attitudes on the part of tax authorities, this paper explores how multiple aims in transfer pricing can be pursued across four different transfer pricing regimes. A MNE has...... minimization. We examine the extent to which the four transfer pricing regimes we set up allow the MNE to pursue these aims. While neither strategic delegation nor tax minimization will be eliminated, trade-offs are inevitable, albeit to varying degree....

  9. Transfer Pricing - An Innovative Approach

    Directory of Open Access Journals (Sweden)

    Ramona MAXIM

    2017-06-01

    Full Text Available This paper presents transfer pricing and elements of drafting the transfer pricing file by the big companies. The transfer pricing procedure was founded based upon Order no. 442/2016 and the Fiscal Procedure Code and it represents a method upon which the tax base is transferred from a high tax country to a country with low taxation. This legislation outlines the conditions which companies must observe in order to draft the transfer pricing documentation and the significance thresholds. The purpose to draft a transfer pricing file is to reduce the differences between prices and market value and the actual results of company taxation. Economic double taxation occurs when tax authorities apply price adjustments because the company did not respect the principle of market value. Keeping records of transfer pricing and practicing a price aligned to market requirements contribute to an understanding of business development and the creation of appropriate tax planning. Taking into account all these aspects and the fact that any taxpayer is tempted to pay the lowest possible fees, tax havens become an option. In this context we can speak of a tax haven as a loophole in the use of the market price.

  10. International Transfer Pricing in Multinational Enterprises

    DEFF Research Database (Denmark)

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

    2017-01-01

    , the Appendix provides an overview of the ‘OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations’ (OECD, 2010), hereafter OECD Guidelines, upon which most transfer pricing regulations worldwide are based. It includes an introduction to the arm’s length principle, OECD....... As a result, tax risk management considerations play a key role in the transfer pricing decisions of MNEs today. This case seeks to provide you with examples of the core principles of international transfer pricing, as well as to allow you to discuss international transfer pricing in the context...

  11. Transfer pricing and safe harbours

    Directory of Open Access Journals (Sweden)

    Veronika Solilová

    2013-01-01

    Full Text Available Transfer prices are significant for both taxpayers and tax administrations because they determine in large part taxable profits of associated enterprises in different tax jurisdictions. Moreover, in the context of taxation, transfer prices must be complied with the arm’s length principle. However, Multinational Enterprises have been faced daily by conflicting rules and approaches to applying the arm’s length principle, burdensome documentation requirements, inconsistent audit standards and unpredictable competent authority outcomes. Therefore, the Committee on Fiscal Affairs launched another project on the administrative aspects of transfer pricing in 2010. On 16 May 2013 as a partial solution of this project was approved by the OECD Council the Revised Section E on Safe Harbours in Chapter IV of the Transfer Pricing Guidelines for Multinational Enterprises and Tax Authorities. The paper is focused on significant changes of newly approved chapter IV of the Transfer Pricing Guidelines for Multinational Enterprises and Tax Authorities, further on analysis of practice in this area, on advantages and disadvantages of safe harbours for taxpayers and competent authorities with aim to suggest recommendations on use of safe harbours in the Czech Republic.

  12. Access price regulation facilitates strategic transfer pricing

    OpenAIRE

    Fjell, Kenneth; Foros, Øystein

    2005-01-01

    Access price regulation is used in telecommunications to prevent that a vertically integrated firm, that controls an essential input, raises the rivals` costs. When the authorities remove the access price as a strategic tool, they at the same time make it optimal for the vertically integrated firm to reorganize from centralized pricing to decentralized pricing in order to use the transfer price as an alternative strategic device. To implement access price regulation, authorities use accountin...

  13. Abusive Transfer Pricing and Economic Activity

    DEFF Research Database (Denmark)

    Nielsen, Søren Bo; Schindler, Dirk; Schjelderup, Guttorm

    This paper investigates how concealment costs of transfer pricing and the probability of detection affect transfer pricing and firm behavior. We find that transfer pricing in intermediate production factors does not affect real activity of a multinational firm if the firm’s concealment effort...... as well as the probability of being audited by tax authorities are conditioned on the amount of shifted profits. If tax authorities rely on the standard OECD arm’s-length principle instead by reacting to a deviation of the transfer price from the market price, the multinational will for tax reasons adjust...... its production structure. A policy implication of the paper is that it should be preferable to condition audits on the amount of income shifted rather than on the distortion of the transfer price proper. Another policy finding is that improving the quality of tax law might be superior to higher...

  14. Abusive Transfer Pricing and Economic Activity

    DEFF Research Database (Denmark)

    Nielsen, Søren Bo; Schindler, Dirk; Schjelderup, Guttorm

    as well as the probability of being audited by tax authorities are conditioned on the amount of shifted profits. If tax authorities rely on the standard OECD arm’s-length principle instead by reacting to a deviation of the transfer price from the market price, the multinational will for tax reasons adjust...

  15. Transfer pricing rules in EU member states

    Directory of Open Access Journals (Sweden)

    Veronika Solilová

    2010-01-01

    Full Text Available One of the important area of international taxes is transfer pricing. Transfer price is a price set by a taxpayer when selling to, buying from, or sharing resources with a related (associated person. The tran­sac­tions between these persons should be assessed at their arm’s length price in according the arm’s length principle – international accepted standard – as the price which would have been agreed between unrelated parties in free market conditions. This paper is focused on the tranfer pricing rules used in particular EU Member States so as if EU Member States apply the arm’s length principle, define the related persons, apply recommendations of the OECD Guidelines, use the transfer pricing methods, require TP Documentation, exercise specific transfer pricing audit or impose specific penalties and apply APAs. Transfer pricing rules should prevent taxpayers from shifting income to related person organized in tax havens or in countries where they enjoy some special tax benefit.

  16. Analysis Method of Transfer Pricing Used by Multinational Companies Related to Tax Avoidance and its Consistencies to the Arm's Length Principle

    Directory of Open Access Journals (Sweden)

    Nuraini Sari

    2015-12-01

    Full Text Available The purpose of this study is to evaluate about how Starbucks Corporation uses transfer pricing to minimize the tax bill. In addition, the study also will evaluate how Indonesia’s domestic rules can overcome the case if Starbucks UK case happens in Indonesia. There are three steps conducted in this study. First, using information provided by UK Her Majesty's Revenue and Customs (HMRC and other related articles, find methods used by Starbucks UK to minimize the tax bill. Second, find Organisation for Economic Co-Operation and Development (OECD viewpoint regarding Starbucks Corporation cases. Third, analyze how Indonesia’s transfer pricing rules will work if Starbucks UK’s cases happened in Indonesia. The results showed that there were three inter-company transactions that helped Starbucks UK to minimize the tax bill, such as coffee costs, royalty on intangible property, and interest on inter-company loans. Through a study of OECD’s BEPS action plans, it is recommended to improve the OECD Model Tax Convention including Indonesia’s domestic tax rules in order to produce a fair and transparent judgment on transfer pricing. This study concluded that by using current tax rules, although UK HMRC has been disadvantaged because transfer pricing practices done by most of multinational companies, UK HMRC still cannot prove the transfer pricing practices are not consistent with arm’s length principle. Therefore, current international tax rules need to be improved.

  17. AN APPROACH ON LINKS BETWEEN TRANSFER PRICING AND TAX HAVENS

    Directory of Open Access Journals (Sweden)

    ANDREEA LAVINIA CAZACU (NEAMŢU

    2015-10-01

    Full Text Available Transfer pricing are the prices at which a company transfers physical goods and intangible property or provides services to affiliated companies. Transfer pricing mechanism is the most frequently used instrument for the transfer of the tax base from countries with high tax to low tax countries. In the context of transfer pricing, all transactions should be made only respecting the principle of market value (Arm’s length principle. Under current conditions, we can say that globalization influences the transfer pricing, because it makes possible to transfer profits from one country to another, by removing state barriers. The expression "transfer pricing" is used as shorthand for multinational corporations to store profits in tax havens and to avoid tax evasion in developed countries. These two terms (transfer pricing and tax havens combined, make the benefits of affiliated groups to grow impressively.

  18. Strammere retningslinjer om transfer pricing

    DEFF Research Database (Denmark)

    Rossing, Christian Plesner

    2015-01-01

    Transfer pricing vedrører prisfastsættelsen på transaktioner, der foregår mellem koncernforbundne selskaber og er fortsat et tema, der nyder stort fokus hos både multinationale koncerner og skattemyndigheder. For den multinationale koncern er transfer pricing i høj grad en aktivitet, der består i...

  19. Experimental Evidence on Transfer Pricing

    Directory of Open Access Journals (Sweden)

    Tran Quoc H.

    2016-06-01

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

  20. Transfer Pricing Documentation - A Current Issue

    Directory of Open Access Journals (Sweden)

    Violeta Isai

    2016-07-01

    Full Text Available Rather quick development of the business environment has led to the implementation of legislative measures to meet the requirements and amendments thereto. With the adoption of the Fiscal Procedure Code and Order no. 442/2016 were founded transfer pricing procedures, denoting a means of making taxable transfer of a high tax country to a low tax country. These laws have laid down conditions that must be met and materiality thresholds that must take into account the taxpayer to draft transfer pricing documentation file. The aim of these measures is to reduce the differences between the prices charged by the related parts and the market value and also to actual results of company taxation. The tax authorities are entitled to apply price adjustments when it is not the principle of market value, which entail economic double taxation. Application and dossier preparation of transfer pricing contribute to a collective vision on the market in which the company operates, understanding how business development and, not least, the creation of an appropriate fiscal planning.

  1. Styring af international transfer pricing

    DEFF Research Database (Denmark)

    Reuther, Peter; Rossing, Christian Plesner

    2011-01-01

    Nærværende artikel introducerer international transfer pricing, dels som et skatteretligt fænomen og dels som et værktøj til planlægning og økonomisk styring af koncernforbundne selskaber i en multinational virksomhed (MNV). Med udgangspunkt i en case-analyse af MNV’en gives der et konkret eksempel...... international transfer pricing i betragtning, når økonomiske styringssystemer i en MNV skal anvendes til planlægning og opfølgning....

  2. Short Reflections about the Transfer Pricing File

    Directory of Open Access Journals (Sweden)

    Florin TUDOR

    2012-11-01

    Full Text Available Substantive development of the international trade over the past 20 years, reflecting to some extent the degree of integration of national economies and technological progress, presents tax issues of increased complexity in the determination of income and expenses of a company or of a permanent establishment which is part of a multinational group and which must be approached within a jurisdiction. In principle, the specific the right of taxation of each state depends mostly on the tax system used by it: if it is a tax system based on tax residence, source of income, or both. In applying those principles in taxation of multinational companies, one of the most difficult problems encountered consists in establishing, for tax purposes, the appropriate transfer pricing. Taking into account the phenomenon of internationalization of the economic crimes, this paper aims treat uniform the subject in question, but with references to certain mandatory provisions contained in the OECD Guidelines regarding of the transfer pricing.

  3. Revised OECD Transfer pricing Guidelines and the Czech tax policy

    Directory of Open Access Journals (Sweden)

    Veronika Solilová

    2011-01-01

    Full Text Available In applying the international principles to the taxation of Multinational Enterprises, one of the most difficult issues that have arisen is the establishment for tax purposes of appropriate transfer prices. Transfer prices are significant for both taxpayers and tax administrations because they determine in large part the income and expenses, and therefore taxable profits, of associated enterprises in different tax jurisdictions. The Committee on Fiscal Affairs, which is the main tax policy body of the OECD, has issued a number of reports relating to the transfer pricing issues. The most important are the Transfer pricing Guidelines for multinational enterprises and tax authorities which was published in 1995. These Guidelines focus on the application of the arm’s length principle to evaluate the transfer pricing of associated enterprises, the analysis of the methods for evaluating whether the conditions of commercial and financial relations within Multinational Enterprises satisfy the arm’s length principle and discussion of the practical application of those methods. Simply, these Guidelines focus on the main issues of principle that arise in the transfer pricing area. The Committee on Fiscal Affairs continues its work in this area, on 22 July 2010 approved and released the proposed revisions to Chaps. I through III of these Guidelines and simultaneously published a new Chap. IX related to business restructuring. The revisions are the result of several years of work on comparability and the use of profit-based methods. The revised text will have a significant impact on the application of transfer pricing analysis and transfer pricing methods. The paper is focused on significant changes of newly approved Guidelines with aim to evaluate how the Czech Republic began applying the principles set out in the revised text of these Guidelines.

  4. The analysis of pricing principles at domestic industrial enterprises

    OpenAIRE

    I.M. Rjabchenko; V.V. Bozhkova

    2013-01-01

    The analysis of pricing principles at domestic industrial enterprisesTheoretical and methodological aspects of marketing pricing formation are investigated in the article. The aim of this research is systematization of marketing pricing principles and formation of corresponding offers concerning perfection of a domestic industrial enterprises pricing policy.The results of the analysis. The authors note that pricing principles are important element of pricing methodology which form basic posit...

  5. ASPEK PERPAJAKAN DALAM PRAKTEK TRANSFER PRICING

    Directory of Open Access Journals (Sweden)

    Yenni Mangoting

    2000-01-01

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

  6. ADVANCE PRICING AGREEMENT DAN PROBLEMATIKA TRANSFER PRICING DARI PERSPEKTIF PERPAJAKAN INDONESIA

    Directory of Open Access Journals (Sweden)

    Iman Santoso

    2004-01-01

    Penghasilan Indonesia mengatur tentang Advance Pricing Agreement, yang adalah kesepakatan harga antara Wajib Pajak dengan aparat pajak mengenai harga jual wajar atas produk yang dihasilkannya kepada pihak-pihak yang mempunyai hubungan istimewa. Kata kunci: transfer pricing, advance pricing agreement, special relationship, arms length principle.

  7. Transfer Pricing in the European Union

    Directory of Open Access Journals (Sweden)

    Gheorghe MATEI

    2011-04-01

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

  8. Fundamental principles of heat transfer

    CERN Document Server

    Whitaker, Stephen

    1977-01-01

    Fundamental Principles of Heat Transfer introduces the fundamental concepts of heat transfer: conduction, convection, and radiation. It presents theoretical developments and example and design problems and illustrates the practical applications of fundamental principles. The chapters in this book cover various topics such as one-dimensional and transient heat conduction, energy and turbulent transport, forced convection, thermal radiation, and radiant energy exchange. There are example problems and solutions at the end of every chapter dealing with design problems. This book is a valuable int

  9. Vodafone Transfer Pricing Decision: A Mistake of Judgment

    NARCIS (Netherlands)

    Sanghavi, D.

    2015-01-01

    On 10 October 2014, the Bombay High Court exercised its non-appellate jurisdiction to quash a transfer pricing claim in the case of Vodafone, in which the tax authorities sought to apply the arm’s length principle to equity financing transactions. This interpretation has been accepted by the

  10. Tax Anti-avoidance Through Transfer Pricing

    DEFF Research Database (Denmark)

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

    2016-01-01

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

  11. Transfer pricing and the Czech tax policy

    Directory of Open Access Journals (Sweden)

    Veronika Solilová

    2010-01-01

    Full Text Available The Czech Republic as a small open economy with an extensive network of the international tax treaties for the avoidance of the double taxation prevents from shifting the tax base of the associated enterprises to countries with preferential tax regime through transfer pricing rules. Transfer pricing as one of the important areas of international taxes determines how the profits of the multinational enterprises are split between the jurisdictions in which they operate and which countries get to tax those profits. This situation may affect the global budget of the multinational enterprises and the tax reve­nues of the jurisdictions. This paper is focused on the transfer pricing rules used in the Czech Republic and makes recommendations for the Czech tax policy in this area based on the analysis of the transfer pricing rules in the EU Member States.

  12. Strategic transfer pricing, absorption costing and vertical integration

    OpenAIRE

    Göx, Robert F

    1998-01-01

    This paper analyzes the use of transfer pricing as a strategic device in divisionalized firms facing duopolistic price competition. When transfer prices are observable, both firms' headquarters will exclude their marketing division from the external input market and charge a transfer price above the market price of the intermediate product to induce their marketing managers to behave as softer competitors on the final product market. When transfer prices are not observable, strategic transfer...

  13. Mathematical principles of road congestion pricing

    African Journals Online (AJOL)

    The provision of adequate public transport to divert private vehicle users is a prerequisite to the application of road congestion pricing, otherwise the benefits of a congestion charg- ing scheme would not materialise. A congestion pricing scheme should meet the following requirements [4]:. 1. It should discourage trips that ...

  14. Electricity price forecasting through transfer function models

    International Nuclear Information System (INIS)

    Nogales, F.J.; Conejo, A.J.

    2006-01-01

    Forecasting electricity prices in present day competitive electricity markets is a must for both producers and consumers because both need price estimates to develop their respective market bidding strategies. This paper proposes a transfer function model to predict electricity prices based on both past electricity prices and demands, and discuss the rationale to build it. The importance of electricity demand information is assessed. Appropriate metrics to appraise prediction quality are identified and used. Realistic and extensive simulations based on data from the PJM Interconnection for year 2003 are conducted. The proposed model is compared with naive and other techniques. Journal of the Operational Research Society (2006) 57, 350-356.doi:10.1057/palgrave.jors.2601995; published online 18 May 2005. (author)

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

    African Journals Online (AJOL)

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

  16. Principles of the Proposed Czech Postal Sector Price Control Model

    OpenAIRE

    Libor Švadlenka; Aleksander Chlan

    2009-01-01

    The paper deals with the postal sector control. It resultsfrom the control theory and proves the justifiability of control inthe postal sector. Within the price control it results from E U Directive97!67/EC requirements on this control and states individualtypes of price control focusing on ineffective price controlcurrently used in the Czech postal sector (especially withindomestic services) and proposes a more effective method ofprice control. The paper also discusses the principles of the ...

  17. Basic economic principles of road pricing: From theory to applications

    NARCIS (Netherlands)

    Rouwendal, J.; Verhoef, E.T.

    2006-01-01

    This paper presents, a non-technical introduction to the economic principles relevant for transport pricing design and analysis. We provide the basic rationale behind pricing of externalities, discuss why simple Pigouvian tax rules that equate charges to marginal external costs are not optimal in

  18. Three principles of competitive nonlinear pricing

    OpenAIRE

    Frank H. Page; Paulo Klinger Monteiro

    2002-01-01

    We make three contributions to the theory of contracting under asymmetric information. First , we establish a competitive analog to the revelation principle which we call the implementation principle. This principle provides a complete characterization of all incentive compatible, indirect contracting mechanisms in terms of contract catalogs (or menus), and allows us to conclude that in competitive contracting situations, firms in choosing their contracting strategies can restrict attention, ...

  19. Transfer Pricing And Taxation Implications Disclosure In Segmental Reporting: Malaysian Evidence

    OpenAIRE

    Mohammad Talha; Syed Shah Alam; Abdullah Sallehhuddin

    2011-01-01

    Transfer pricing has emerged as common practice among highly diversified companies. Company goes for either domestic transfer pricing or international transfer pricing for several distinctive reasons. While domestic transfer pricing aims for enhancing divisional autonomy and divisions managers, international transfer pricing expects for less taxes, tariff, duties and excises. Therefore, international transfer pricing has significant taxation implication. With expansion of transfer pricing, fi...

  20. Multinational transfer pricing and international taxation: what, why ...

    African Journals Online (AJOL)

    International transfer pricing issues are the subject of this paper. The huge and growing volume of tangible and intangible goods and the motivation (profit, politics and finance) for manipulations involved in transfer pricing situations makes this an important area of study. Multinational transfer pricing has so much reporting ...

  1. Transfer pricing as tax avoidance under different legislative schemes

    OpenAIRE

    Holzmann, Carolin Maria

    2016-01-01

    This paper investigates transfer pricing as tax avoidance before and after reforms of anti-avoidance legislation. The reforms introduced and tightened obligatory documentation requirements for transfer prices to enforce that multinational enterprises (MNEs) set internal transfer prices at an arm’s-length. Linking data from the Microdatabase Statistics on International Trade in Services that comprehends prices of MNEs’ international service transactions to the Microdatabase Direct Investment, ...

  2. THE USELESS OF THE TRANSFER PRICING FILE

    Directory of Open Access Journals (Sweden)

    DEACONU SORIN-CONSTANTIN

    2017-10-01

    Full Text Available In the context of the globalization and of the strengthening of the relations between the UE economical agents, it appears more and more the idea of groups of entities for the justification of the reciprocal deliveries, buying and loans. The transferring price is a concept that requires maximum attention from the affiliated parts, meaning the entities with reciprocal operations and common managers or associates. The theme of our study is the verification of the hypothesis when the transferring price documentary file is not useful. The research methodology of our study include: dedicated literature, study cases, etc. the conclusion is that all affiliated entities (according to the national legislation are legally imposed to establish such a documentary file and the tax authorities may require explanations and information related to the content of this file. Still, the file does not bring extra information for the tax authorities, because its establishing is partial from the start, because no tax payer will accuse himself in front of the tax authorities. We propose the elimination of this documentary file and its replacement with an electronic format of information to an international level, so the tax authority can perform an analysis of the intra-group operation without going to the premises of the economical operators

  3. Transfer Prices Implication Upon Tax System. The Romanian Experience

    Directory of Open Access Journals (Sweden)

    Dumiter Florin

    2017-06-01

    Full Text Available Transfer prices are a top field in financial and legal scientific research and practical activity. Although this research field is still in the beginning, due to its complexity, as well as it’s inter-, multi- and transdisciplinarity, it can be noted that empirical studies, as well as practical researches in economic and legal matters, have intensified. Moreover, this field of transfer prices is in close connection with the area of international double taxation, which shows its international character. In this article we sought a holistic approach to the transfer price phenomenon, dealing with economic and legal technical aspects that we believed are important to emphasise. Without addressing the issue of transfer prices in an exhaustive manner, in this article we presented both the legal and the economic framework of transfer prices in Romania. The added value of this article lies in the approach to transfer prices, both legally and economically.

  4. TRANSFER PRICING AS A TOOLFOR FINANCIAL ANALYSIS OFENTERPRISES

    Directory of Open Access Journals (Sweden)

    Alexey S. Besfamilnyy

    2015-01-01

    Full Text Available The article outlines the basics of using transfer pricing methods applied to the financial analysis of the enterprise. It focuses on the application of transfer pricing methods not only over prices control between related organizations, but for analysis of the financial performance of companies. It proposes to use comparison of profitability of comparable companies during the reporting period. Shows an approach for the search and selection of comparable companies using information systems SPARKS or Bureau van Dijk. It analysis some examples in which the methodology is applicable transfer pricing as a tool of financial analysis.

  5. Strategic Control of Transfer Pricing in a BEPS Context

    DEFF Research Database (Denmark)

    Rossing, Christian Plesner; Pearson, Thomas C.; Nesimi, Ardit

    2016-01-01

    In the context of the BEPS Final Reports released by the OECD on 5 October 2015, the need to develop and implement strategies for international transfer pricing has been further intensified. Currently, the quality of transfer pricing strategies across multinational enterprises (multinationals...

  6. Full-cost transfer pricing and cost management

    NARCIS (Netherlands)

    Bouwens, Jan; Steens, H.B.A.

    Full-cost transfer pricing has been criticized for providing production units with insufficient incentives to economize. Our empirical study based on data from a large producer of consumer goods shows that charging fullcost transfer prices to downstream sales units can send upstream production units

  7. TRANSFER PRICING - ECONOMIC OUTLOOK FOR BUSSINESSES IN MOLDAVIA

    Directory of Open Access Journals (Sweden)

    Cristina Ion DIACONU

    2016-12-01

    Full Text Available Transfer pricing is a complex , current and original topic for Moldovian enterprises. In terms of decentralization of responsibilities it is not so much a challenge as a necessity to determine a transfer price based on certain, rational, fair and effective fundamentals. From an economic perspective most empirical studies regarding the matters of transfer pricing, converge on delimitation of the methods for determining transfer prices fall into 3 groups: cost-based methods; methods based on market value and methods based on negotiation. But we can say with certainty that there is no perfect method of calculation that would meet all the criteria. Therefore, the main purpose of this article is to present methods for determining transfer prices from an economic point of view, highlighting the advantages and disadvantages of each of them.

  8. Transfer pricing file- a contextualized Approach. Case Study

    Directory of Open Access Journals (Sweden)

    M. Boiţă

    2013-12-01

    Full Text Available The transfer price is basically the price used for transfer of tangible and intangible assets between related parties and it should be determined on the basis of market value without being influenced by the relationship of affiliation. However, if for services or tangible assets, the comparison of the transfer price to the market one is relatively easy to achieve, for the intangible ones, quantifying future benefits waived by the affiliated person compared to the situation in which it would be independent is harder to be established.

  9. OECD Transfer Pricing Guidelines - Implementation by Norwegian Tax Administration

    Energy Technology Data Exchange (ETDEWEB)

    Sollund, Stig

    1998-07-01

    Presentation. The growth of multinational enterprises and integration of world markets across national borders has increased the importance of this issue: How should corporate tax systems at the national level be applied to the profits of companies engaging in the vast number of cross border transactions? The challenges and implications of the issue are tremendous both to the national governments and to the enterprises. The OECD countries have responded to these challenges by declaring that each enterprise within a multinational group of companies shall be treated as a separate entity. In order to apply the separate entity approach to intra group transactions, individual group members must be taxed on the basis that they act at arm's length with each other. The arm's length principle is more easily understood in theory than applied in practice. In some countries, therefore, the authorities have explored other methods than the traditional ones, as described in the 1979 Transfer Pricing Report of the OECD. A confirmed consensus between the governments was reached in the form of the revised 1995 guidelines. The Norwegian Ministry of Finance has given its full support to the efforts of defending the separate entity approach and the arm's length principle in the OECD committees.

  10. Negotiating transfer pricing using the Nash bargaining solution

    Directory of Open Access Journals (Sweden)

    Clempner Julio B.

    2017-12-01

    Full Text Available This paper analyzes and proposes a solution to the transfer pricing problem from the point of view of the Nash bargaining game theory approach. We consider a firm consisting of several divisions with sequential transfers, in which central management provides a transfer price decision that enables maximization of operating profits. Price transferring between divisions is negotiable throughout the bargaining approach. Initially, we consider a disagreement point (status quo between the divisions of the firm, which plays the role of a deterrent. We propose a framework and a method based on the Nash equilibrium approach for computing the disagreement point. Then, we introduce a bargaining solution, which is a single-valued function that selects an outcome from the feasible pay-offs for each bargaining problem that is a result of cooperation of the divisions of the firm involved in the transfer pricing problem. The agreement reached by the divisions in the game is the most preferred alternative within the set of feasible outcomes, which produces a profit-maximizing allocation of the transfer price between divisions. For computing the bargaining solution, we propose an optimization method. An example illustrating the usefulness of the method is presented.

  11. Advance Pricing Agreements and Double Taxation – Key Concepts in the Context of Transfer Pricing

    Directory of Open Access Journals (Sweden)

    Ignat (Neacsu Ioana

    2017-01-01

    Results show that an APA presents more advantages than a transfer pricing file, but its disadvantages (regarding the cost and the period of time needed for the issuance have a big impact on the business of a company and determine most of the taxpayers to choose a transfer pricing documentation file rather than to apply for an APPA. The results of this research also show that countries which have concluded a big number of Double Tax Treaties tends to grant much more APAs compared with the other category of countries where the number of Double Tax Treaties is smaller.

  12. Mathematical principles of road congestion pricing | Pienaar | ORiON

    African Journals Online (AJOL)

    This paper briefly considers the objectives of road congestion pricing and identies prereq-uisites to the successful application of such a pricing scheme. The paper is divided into two sections. In the rst section, a mathematical analysis of the constituents of an optimal road congestion price is oered. The eliminated inefficiency ...

  13. Nye OECD-retningslinjer for transfer pricing dokumentation

    DEFF Research Database (Denmark)

    Rossing, Christian Plesner

    2015-01-01

    Formålet med denne artikel er at give et overblik over det foreløbige resultat vedrørende udvikling af nye retningslinjer for transfer pricing dokumentation, der indgår som en del af OECD's samlede ‘Action Plan on Base Erosion and Profit Shifting’ (BEPS). Disse retningslinjer skal, når de formelt...

  14. Ownership Restrictions, Tax Competition and Transfer Pricing Policy

    NARCIS (Netherlands)

    Diaw, K.

    2004-01-01

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

  15. The Impact of Transfer Pricing on Tourism Entities

    Directory of Open Access Journals (Sweden)

    Păiuşan Luminiţa

    2017-01-01

    Full Text Available The purpose of this document is desired to brought a significant contribution of the controlactivity, and to discuss new methods to ensure transparency and to eliminate constant disputesbetween the public and private sector. Starting with these aspects, we are looking to highlightinternational fraud as accompanying phenomena of transnational structures and economicrelations, to explain its impact on the Romanian economy and to discus the key to finding themetholodgy to eradicate this phenomenon, and also to indicate our recommendations and opinionsto what we believe is necessary to eradicate this phenomenon. Transfer pricing is basically theprice used in the transfer of tangible and intangible assets and / or transfer of services betweenrelated parties, and this price should be based on market price without influence of the relationshipof affiliation. For services or tangible assets, the transfer price comparison with the market isrelatively easy to perform, but in the case of intangible assets, quantification of future benefits thatit gives to an affiliated person, in comparison to a situation where this would be to an independent,is difficult to determine.

  16. Transfer prices assignment with integrated production and marketing optimization models

    Directory of Open Access Journals (Sweden)

    Enrique Parra

    2018-04-01

    Full Text Available Purpose: In decentralized organizations (today a great majority of the large multinational groups, much of the decision-making power is in its individual business units-BUs-. In these cases, the management control system (MCS uses transfer prices to coordinate actions of the BUs and to evaluate their performance with the goal of guaranteeing the whole corporation optimum. The purpose of the investigation is to design transfer prices that suit this goal. Design/methodology/approach: Considering the results of the whole company supply chain optimization models (in the presence of seasonality of demand the question is to design a mechanism that creates optimal incentives for the managers of each business unit to drive the corporation to the optimal performance. Mathematical programming models are used as a start point. Findings: Different transfer prices computation methods are introduced in this paper for decentralised organizations with two divisions (production and marketing. The methods take into account the results of the solution of the whole company supply chain optimization model, if exists, and can be adapted to the type of information available in the company. It is mainly focused on transport costs assignment. Practical implications: Using the methods proposed in this paper a decentralized corporation can implement more accurate transfer prices to drive the whole organization to the global optimum performance. Originality/value: The methods proposed are a new contribution to the literature on transfer prices with special emphasis on the practical and easy implementation in a modern corporation with several business units and with high seasonality of demand. Also, the methods proposed are very flexible and can be tuned depending on the type of information available in the company.

  17. Setting Fair Prices – Fundamental Principle Of Sustainable Marketing

    OpenAIRE

    Cătoiu, Iacob; Vrânceanu, Diana Maria; Filip, Alina

    2010-01-01

    In commercial area, the price has a major importance, being frequently considered among the main criteria used in buying decision process. Price fairness derives from equity theory and it is focused on assuring in a transaction a reasonable report between the customer’s sacrifice and the value offered by the seller. In three marketing experiments we have evaluated customers’ fairness perceptions of differential prices, this tactic being frequently used by sellers. One important finding was th...

  18. 26 CFR 1.925(a)-1T - Temporary regulations; transfer pricing rules for FSCs.

    Science.gov (United States)

    2010-04-01

    ... related party to a FSC to determine the allowable transfer price charged the FSC (or commission paid to... regulations under that section. The transfer price charged the FSC (or the commission paid to the FSC) on a... provides for the creation of receivables if the transfer price, rental payment, commission or payment for...

  19. Transfer Pricing and Intangible Assets in Cross-Border Business Restructurings

    OpenAIRE

    Pätäri, Heidi Maria

    2012-01-01

    Transfer pricing can be described as the internal price setting between multinational group companies. In recent years the issue of jurisdiction’s tax revenue flowing out of the jurisdiction has been closely related with transfer pricing and the tax authorities all over the world have increasingly began to question the arm’s length nature of the intra-group transactions of multinational enterprises. In this thesis the focus is on the transfer pricing issues arising in situations w...

  20. An introduction to heat transfer principles and calculations

    CERN Document Server

    Ede, A J; Ower, E

    1967-01-01

    An Introduction to Heat Transfer Principles and Calculations is an introductory text to the principles and calculations of heat transfer. The theory underlying heat transfer is described, and the principal results and formulae are presented. Available techniques for obtaining rapid, approximate solutions to complicated problems are also considered. This book is comprised of 12 chapters and begins with a brief account of some of the concepts, methods, nomenclature, and other relevant information about heat transfer. The reader is then introduced to radiation, conduction, convection, and boiling

  1. Principles, effects and problems of differential power pricing policy for energy intensive industries in China

    International Nuclear Information System (INIS)

    Lin, Boqiang; Liu, Jianghua

    2011-01-01

    The Chinese government canceled the preferential power pricing policies for energy intensive industries and imposed a reverse differential pricing policy in order to promote energy efficiency and the adjustment and upgrading of the industrial structure. This article analyzes the principles of China's differential power pricing policy, the externalities of energy and the modified Ramsey pricing rule, and also points out the policy implications of China's differential power pricing policy. In our samples, we investigate eight power intensive products in the Henan province with respect to their power consumption per unit (power intensity), electricity cost, total cost, the electricity tariff and profit, in order to test the effects of the differential power pricing policy. The results show that the primary effect of the differential power pricing policy is that enterprises decrease their total costs and improve their productive efficiencies in advance, in anticipating a higher electricity tariff. -- Research highlights: → The article suggests a modified Ramsey pricing model where demand elasticity is replaced by elasticity of energy consumption and polluting elasticity to internalize the negative externality of high energy intensive industry. → The article assesses the effects of differential pricing policy through on-site survey of high energy intensive industries in Henan province and analyzes the reasons behind those effects. → The article presents the lessons and policy implications of implementing differential pricing policy aimed at energy conservation and emission reduction.

  2. Variational principles in terms of entransy for heat transfer

    International Nuclear Information System (INIS)

    Xu, Mingtian

    2012-01-01

    A variational principle for heat conduction is formulated which results in the steady state heat conduction equation established from the Fourier law. Furthermore based on the thermodynamics in terms of entransy a more general functional is defined for incompressible fluids. We show that extremizing this functional gives rise to the state described by the Navier-Stokes-Fourier equations with vanishing substantive derivatives of the temperature and velocity field. In this sense one may conclude that this variational principle is consistent with the Navier-Stokes-Fourier equations. Therefore the variational principle developed in the present work demonstrates a great advantage over the minimum entropy production principle. -- Highlights: ► A variational principle for heat transfer of incompressible fluid is established in terms of entransy. ► For pure heat conduction the variational principle leads to the classical steady state heat conduction equation. ► For heat convection the variational principle is consistent with the Navier-Stokes-Fourier equations.

  3. Principles of heat and mass transfer

    CERN Document Server

    Incropera, Frank P; Bergman, Theodore L; Lavine, Adrienne S

    2013-01-01

    Completely updated, the seventh edition provides engineers with an in-depth look at the key concepts in the field. It incorporates new discussions on emerging areas of heat transfer, discussing technologies that are related to nanotechnology, biomedical engineering and alternative energy. The example problems are also updated to better show how to apply the material. And as engineers follow the rigorous and systematic problem-solving methodology, they'll gain an appreciation for the richness and beauty of the discipline.

  4. On Transfer Pricing: Conceptual Thoughts on the Nature of the Multinational Firm

    OpenAIRE

    Brem Markus; Tucha Thomas

    2005-01-01

    This paper deploys Transaction Cost Economics (TCE) to elaborate on the shortcomings of “mainstream” transfer pricing in multinational firms. Departing from the notion that multinationals increasingly (re-)organize their business along multinational value chains irrespective of jurisdictional borders, the paper discusses the nature of the multinational firm and the problem of choosing the right intra-group (transfer) price. The mainstream transfer pricing approach derived from the Arm´s Lengt...

  5. Transfer prices – a debate amongst multinational companies and tax authorities

    Directory of Open Access Journals (Sweden)

    Gheorghe MATEI

    2017-11-01

    Full Text Available Transfer pricing is a topical subject because it has a strong impact on affiliated companies as well as on the countries in which these companies operate. Transfer pricing is one of the most important aspects of international tax, but a practical approach will help to focus on solutions to these problems, solutions that will help countries emerging to address evaluation issues transfer pricing in which is robust and equitable to all parties involved.

  6. Transfer Pricing – Between Optimization and International Tax Evasion

    Directory of Open Access Journals (Sweden)

    Valentin SAVA

    2017-04-01

    Full Text Available Each enterprise in the private sector aims to increase financial return, which is achieved by obtaining the higher net profit by increasing revenue and reducing expenditure. In this endeavor, compliance with tax obligations occupy a very important role because handling taxes may lead to an increase in revenue and / or a reduction of spending, and this action is called tax optimization. In the case of multinational companies, the main tool that can be used to lower the tax burden and increasing, sometimes in sizeable benefits in net, is the transfer prices or the prices they registered entities in the group transactions between them, along with another instrument with great impact, ie tax havens. Tax evasion, designating evading payment obligations of a company according to the national tax system, may be legal in the sense that tax optimization does not violate the rules, but exploiting loopholes that are in them. But when legal tax rules are violated, we deal with tax fraud, which will be subject to punitive measures by public authorities as it affects the whole population.

  7. Transfer Pricing - between Optimization and International Tax Evasion

    Directory of Open Access Journals (Sweden)

    Valentin SAVA

    2017-06-01

    Full Text Available Each enterprise in the private sector aims to increase financial return, which is achieved by obtaining a the higher net profit by increasing revenue and reducing expenditure. In this endeavor, compliance with tax obligations occupy a very important role because handling taxes may lead to an increase in revenue and / or a reduction of spending, and this action is called tax optimization. In the case of multinational companies, the main tool that can be used to lower the tax burden and increasing, sometimes in sizeable benefits in net, is the transfer prices or the prices they registered entities in the group transactions between them, along with another instrument with great impact, ie tax havens. Tax evasion, designating evading payment obligations of a company according to the national tax system, may be legal in the sense that tax optimization does not violate the rules, but exploiting loopholes that are in them. But when legal tax rules are violated, we deal with tax fraud, which will be subject to punitive measures by public authorities as it affects the whole population.

  8. BUSINESS MODELS FOR TAX AND TRANSFER PRICING PURPOSES

    Directory of Open Access Journals (Sweden)

    Corlaciu Alexandra

    2013-07-01

    Full Text Available In order to remain competitive, the multinational enterprises (MNEs are forced by the globalization phenomenon (which manifestation has became more and more stringent to analyze continuously its effectiveness. In this respect, the structure of the business represents an element which might have an important impact for the enterprise’s overall results. This is why, in the last decades, the MNEs granted special attention to business structures and put significant efforts in business restructurings, where the case, with the scope to keep the efficiency and to remain on the market. Generally, the operational business restructuring process follows one of the business model globally developed, namely manufacturer or sales business models. Thus, according to the functions performed, assets used and risks assumed, the entities within the group are labeled into limited risk units (such as toll manufacturer or commission agent, medium risk (contract manufacturer, commissionaire, stripped distributor or high risk units (fully fledged manufacturer, fully fledged distributor. Notwithstanding the above, there should be emphasized that the operational business restructuring has to be undertaken with maximal care, as it might have important fiscal impact. Having this regard, the purpose of the present investigation is to provide, from a tax and transfer pricing point of view, a systematic and structured analysis of the generally characteristics of business models (manufacturer and sales business models used by multinational enterprises in the process of business reorganization, with the scope to increase their performance and the sustainable competitive advantages. Thus, by using the fundamental (theoretical and qualitative research type, this paper is aiming to present the most important characteristics of each business model (general overview of each model, the principal risk assumed, the usual transfer pricing method used for the remuneration of intra

  9. The Achilles’ heels of growth: factor price distortions and wealth transfer in China

    OpenAIRE

    Zhang, Shuguang; Cheng, Lian

    2010-01-01

    As critical piece of China’s gradualist economic transition, domestic price reform still faces major challenges. In particular, factor price, which is still tightly-controlled and not market-based, is lower than market equilibrium price. Factor price distortion not only reduces market efficiency but also affects wealth distribution. Subsequent wealth transfer has, over the past ten to fifteen years, created a powerful vested interests and spawned social resentment, both of which may constitut...

  10. Multinational Firms' Heterogeneity in Tax Responsiveness: the Role of Transfer Pricing

    OpenAIRE

    Céline Azémar; Paolo Gregory Corcos

    2008-01-01

    In this paper we show that the ability of multinational firms to manipulate transfer prices affects the tax sensitivity of foreign direct investment (FDI). We offer a model of international capital allocation where firms are heterogeneous in their ability to manipulate transfer prices. Perhaps paradoxically, we show that the ability to shift profits can make parent companies' investment more sensitive to host-country tax rates, as long as investors expect fiscal authorities to use price and p...

  11. A comparative analysis of the Brazilian and Norwegian Transfer Pricing System within the areas of thin capitalisation, interest and service regulations: Is there a difference in the approach to the arm s length principle under their domestic legislations that could lead to double taxation issues? If so, could this be solved by the Double Taxation Agreement between both countries?

    OpenAIRE

    Delgado, Fernanda Jose Cuadra

    2013-01-01

    As a whole, the current thesis presents us with a comparative analysis of the Norwegian and Brazilian TP domestic regulations; in the context of the Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and Capital, ratified by both countries in 1981, and the OECD Transfer Pricing Guidelines. This will be achieved in the basis of the following structure: Part 1 will present an overview of the governmental approach for TP for Brazi...

  12. DEVELOPMENT MANAGEMENT TRANSFER PRICING BY APPLICATION OF THE INTERVAL ESTIMATES

    Directory of Open Access Journals (Sweden)

    Elena B. Shuvalova

    2013-01-01

    Full Text Available The article discusses the application of the method of interval estimation of conformity of the transaction price the market price. A comparative analysis of interval and point estimate. Identified the positive and negative effects of using interval estimation.

  13. 26 CFR 1.6662-6 - Transactions between persons described in section 482 and net section 482 transfer price...

    Science.gov (United States)

    2010-04-01

    ... section 482 and net section 482 transfer price adjustments. 1.6662-6 Section 1.6662-6 Internal Revenue... described in section 482 and net section 482 transfer price adjustments. (a) In general—(1) Purpose and... (the transactional penalty) or a net section 482 transfer price adjustment (the net adjustment penalty...

  14. Intangible Property : Defining Intangible Property for Transfer Pricing Purposes and Exploring the Concept of Economic Ownership

    OpenAIRE

    Eriksson, Emma

    2010-01-01

    In this thesis the definition of intangible property contained in the Transfer Pricing Guidelines is analysed with the aim of exploring whether it is satisfactory or not. Furthermore, the need to have a definition of intangible property for transfer pricing purposes at all is explored. To properly allocate income and expenditure relating to intangible property one needs to first establish who is the owner of the property. In the light of this the economic ownership is explored as well. Two co...

  15. Transferring the entatic-state principle to copper photochemistry

    Science.gov (United States)

    Dicke, B.; Hoffmann, A.; Stanek, J.; Rampp, M. S.; Grimm-Lebsanft, B.; Biebl, F.; Rukser, D.; Maerz, B.; Göries, D.; Naumova, M.; Biednov, M.; Neuber, G.; Wetzel, A.; Hofmann, S. M.; Roedig, P.; Meents, A.; Bielecki, J.; Andreasson, J.; Beyerlein, K. R.; Chapman, H. N.; Bressler, C.; Zinth, W.; Rübhausen, M.; Herres-Pawlis, S.

    2018-03-01

    The entatic state denotes a distorted coordination geometry of a complex from its typical arrangement that generates an improvement to its function. The entatic-state principle has been observed to apply to copper electron-transfer proteins and it results in a lowering of the reorganization energy of the electron-transfer process. It is thus crucial for a multitude of biochemical processes, but its importance to photoactive complexes is unexplored. Here we study a copper complex—with a specifically designed constraining ligand geometry—that exhibits metal-to-ligand charge-transfer state lifetimes that are very short. The guanidine-quinoline ligand used here acts on the bis(chelated) copper(I) centre, allowing only small structural changes after photoexcitation that result in very fast structural dynamics. The data were collected using a multimethod approach that featured time-resolved ultraviolet-visible, infrared and X-ray absorption and optical emission spectroscopy. Through supporting density functional calculations, we deliver a detailed picture of the structural dynamics in the picosecond-to-nanosecond time range.

  16. The UNESCO Bioethics Declaration 'social responsibility' principle and cost-effectiveness price evaluations for essential medicines.

    Science.gov (United States)

    Faunce, Thomas Alured

    2005-07-01

    The United Nations Scientific, Education and Cultural Organisation (UNESCO) has commenced drafting a Universal Bioethics Declaration. Some in the relevant UNESCO drafting committee have previously desired to restrict its content to general principles concerning the application (but not necessarily the goals) of science and technology. As potentially a crucial agenda-setting statement of global bioethics, however, it is arguable important the Universal Bioethics Declaration transparently address major bioethical dilemmas in the field of public health, such as universal access to affordable, essential medicines. Article 13 (Social Responsibility) of the Preliminary Draft Universal Bioethics Declaration states: 'Any decision or practice shall ensure that progress in science and technology contributes, wherever possible, to the common good, including the achievement of goals such as: (i) access to quality health care and essential medicines, including for reproductive health and health of children.' Cost effectiveness pricing systems, such as that most notably used in Australia's Pharmaceutical Benefits Scheme (PBS), arguably represent one of the most scientifically effective mechanisms whereby public monies may be utilised to assist in the provision of medicines for the common good. They contain two essential elements: first, a process of scientific evaluation of objectively demonstrated therapeutic significance, and then, a fiscal lever (the government reimbursement price) attached to that evaluation. It is now well established that the US Pharmaceutical Research and Manufacturers Association (Pharma), through the assistance of the US Trade Representative (USTR), saw the Australia United States Free Trade Agreement (AUSFTA) as an opportunity to fulfill a legislative mandate to 'eliminate' the cost-effectiveness pricing system in Australia's PBS. One of the most remarkable features of the arguments raised against the PBS in this context was the fact that they made

  17. Business is not just war. Transferring the principle of double effect ...

    African Journals Online (AJOL)

    In this article the validity of transferring the Principle of Double Effect from the just war tradition to the domain of business is critically reviewed. If a case can be built for sufficient analogies between war and business, the principle of double effect can legitimately be transferred from war to business. If, on the other hand it can ...

  18. Approaches to Foster Transfer of Formal Principles: Which Route to Take?

    Science.gov (United States)

    Schalk, Lennart; Saalbach, Henrik; Stern, Elsbeth

    2016-01-01

    Enabling learners to transfer knowledge about formal principles to new problems is a major aim of science and mathematics education, which, however, is notoriously difficult to reach. Previous research advocates different approaches of how to introduce principles to foster the transfer of knowledge about formal principles. One approach suggests teaching a generic formalism of the principles. Another approach suggests presenting (at least) two concrete cases instantiating the principle. A third approach suggests presenting a generic formalism accompanied by a case. As yet, though, empirical results regarding the transfer potential of these approaches are mixed and difficult to integrate as the three approaches have rarely been tested competitively. Furthermore, the approaches have been evaluated in relation to different control conditions, and they have been assessed using varying transfer measures. In the present experiment, we introduced undergraduates to the formal principles of propositional logic with the aim to systematically compare the transfer potential of the different approaches in relation to each other and to a common control condition by using various learning and transfer tasks. Results indicate that all approaches supported successful learning and transfer of the principles, but also caused systematic differences in the magnitude of transfer. Results indicate that the combination of a generic formalism with a case was surprisingly unsuccessful while learners who compared two cases outperformed the control condition. We discuss how the simultaneous assessment of the different approaches allows to more precisely capture the underlying learning mechanisms and to advance theory on how these mechanisms contribute to transfer performance.

  19. Transfer Pricing In Transnational Operations: A Case- And Literature-Based Analysis

    OpenAIRE

    Virginia A. Taylor; E.J. (Roy) Knaus; William E. Matthews

    2011-01-01

    This paper represents a combined case- and literature-based analysis of transnational pricing and highlights the difference in the issues and perspectives of the business and academic environments. Following an introduction to the issue (noting the growing importance of the transfer of goods from one organizational entity to another within a multinational firm), a short case - The Henderson Company - illustrates how a relatively simple announcement can lead to a lengthy and heated discussion ...

  20. Funds transfer pricing in banking: the cashflow and capital congruent market opportunity in the marktzinsmethode

    NARCIS (Netherlands)

    IJskes, E.

    1995-01-01

    This paper aims at describing the Marktzinsmethode as it developed in German literature.Attention will be paid to the reasons for developing a market-based funds transfer pricingsystem. The opportunity principle will be introduced as a means of assigning interest income.As a result of the use of the

  1. Price

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

    The price terms in wheeling contracts very substantially, reflecting the differing conditions affecting the parties contracting for the service. These terms differ in the manner in which rates are calculated, the formulas used, and the philosophy underlying the accord. For example, and EEI study found that firm wheeling rates ranged from 20 cents to $1.612 per kilowatt per month. Nonfirm rates ranged from .15 mills to 5.25 mills per kilowatt-hour. The focus in this chapter is on cost-based rates, reflecting the fact that the vast majority of existing contracts are based on rate designs reflecting embedded costs. This situation may change in the future, but, for now, this fact can't be ignored

  2. Analysis of transfer prices in the North Atlantic petroleum industry for the period 1979-1984: A disaggregated approach

    International Nuclear Information System (INIS)

    Boucher, N.

    1993-08-01

    An empirical study was conducted to verify the hypothesis that the multinational petroleum companies exporting to North Atlantic markets had abused transfer prices in order to evade taxes from 1979 to 1984. The investigations are based on an essentially econometric approach at a high level of disaggregation. The fixed coefficient model for the resulting panel data allows estimation of the defrayed prices by the affiliates during the multinational's internal exchanges, as well as the prices in the independent market. The empirical tests show that only certain affiliates have spent at prices different to those in the international market, and those were exclusively for the purchase of crude oil originating from certain countries. Even for these significant differences, no evident relationship is demonstrated between the rate of taxes on foreign profits in effect in the host countries and the transfer prices. 53 refs., 71 tabs

  3. Process heat transfer principles, applications and rules of thumb

    CERN Document Server

    Serth, Robert W

    2014-01-01

    Process Heat Transfer is a reference on the design and implementation of industrial heat exchangers. It provides the background needed to understand and master the commercial software packages used by professional engineers in the design and analysis of heat exchangers. This book focuses on types of heat exchangers most widely used by industry: shell-and-tube exchangers (including condensers, reboilers and vaporizers), air-cooled heat exchangers and double-pipe (hairpin) exchangers. It provides a substantial introduction to the design of heat exchanger networks using pinch technology, the mos

  4. Applying the Behavioral Economics Principle of Unit Price to DRO Schedule Thinning

    Science.gov (United States)

    Roane, Henry S.; Falcomata, Terry S.; Fisher, Wayne W.

    2007-01-01

    Within the context of behavioral economics, the ratio of response requirements to reinforcer magnitude is called "unit price." In this investigation, we yoked increases in reinforcer magnitude with increases in intervals of differential reinforcement of other behavior (DRO) to thin DRO intervals to a terminal value. (Contains 1 figure.)

  5. Are pricing and reimbursement decision-making criteria aligned with public preferences regarding allocation principles in the Polish healthcare sector?

    Science.gov (United States)

    Kolasa, Katarzyna

    2014-10-01

    Given growing interest in multicriteria decision making and multiple cost-effectiveness thresholds' approach, it was decided to investigate its usefulness in Poland. The pricing and reimbursement (P&R) regulations were reviewed and a cross-sectional survey was conducted amongst nurses. The study investigated whether P&R rules are aligned with the preferences of healthcare professional towards the concept of equity. The references to aversion to inequalities in health and capacity to benefit were recognized as the most and least important principle respectively by the group of nurses. Different weightings of health gain dependent on disease severity were accepted by half of the study's population. In the review of legal acts, references to capacity to benefit were frequently found. The opposite was registered for other concepts of equity. There is room for further improvement with respect to the alignment between the Polish P&R decision making criteria and public preferences regarding allocation principles.

  6. Transfer pricing-overvejelser i relation til det fælles europæiske momssystem

    DEFF Research Database (Denmark)

    Jensen, Dennis Ramsdahl

    2008-01-01

    kriterier. Transfer pricing-fænomenet har ikke desto mindre levet en noget upåagtet tilværelse i momsretten, hvilket primært skyldes, at fiksering af et afgiftsgrundlag som udgangspunkt har været i strid med fællesskabsretten. I august 2006 blev der imidlertid etableret en fakultativ værnsregel i...... momssystemdirektivets art. 80, som giver medlemsstaterne mulighed for at indføre deciderede transfer pricing-regler. Selv om denne mulighed af forskellige årsager må hilses velkommen, giver reglernes aktuelle udformning desværre anledning til betænkeligheder. I nærværende artikel undergives momssystemdirektivets...... fakultative transfer pricing-bestemmelser en nærmere analyse med henblik på at diskutere dem i lyset af neutralitets- og proportionalitetsprincippet....

  7. Intangible asset valuation, damages, and transfer price analyses in the health care industry.

    Science.gov (United States)

    Reilly, Robert F

    2010-01-01

    Most health care industry participants own and operate intangible assets. These intangible assets can be industry-specific (e.g., patient charts and records, certificates of need, professional and other licenses), or they can be general commercial intangible assets (e.g., trademarks, systems and procedures, an assembled workforce). Many industry participants have valued their intangible assets for financial accounting or other purposes. This article summarizes the intangible assets that are common to health care industry participants. This article describes the different types of intangible asset analyses (including valuation, transfer price, damages estimates, etc.), and explains the many different transaction, accounting, taxation, regulatory, litigation, and other reasons why industry participants may wish to value (or otherwise analyze) health care intangible assets.

  8. Multi-objective shadow prices point at principles of metabolic regulation.

    Science.gov (United States)

    Sajitz-Hermstein, Max; Nikoloski, Zoran

    2016-08-01

    Perturbations in environmental and intracellular conditions often lead to changes across all cellular layers, from transcription to metabolism. Regulatory mechanisms are key to mediating these changes to maintain homeostasis and to ensure viability. Since changes in metabolic reaction rates are partly due to perturbations in metabolite concentrations, it is expected that metabolites with large effect on those reaction rates which govern metabolic functionality are tightly regulated. The extent of metabolic regulation has been quantified by the sensitivity of an individual metabolic function to changes in metabolite concentrations, in particular by shadow prices in the constraint-based modeling framework. However, the system-wide characterization of the extent to which metabolite concentrations are regulated in the more realistic scenario of multiple contending tasks remains elusive. Here we examine multi-objective shadow prices for the central carbon metabolism of Escherichia coli whose reaction rates are shaped by several contending metabolic functions. We determine shadow prices for sampled solutions of the Pareto front, which characterizes the space of multi-objective optima, for three contending metabolic functions that provide the best agreement with (13)C-labeling experiments. By analyzing the parts of the Pareto front closest to the experimentally determined flux phenotypes, we show that E. coli operates in the vicinity of an area of the Pareto front which facilitates robust and efficient regulation. In addition, we find significant associations between features of the transcriptional regulatory network and the sensitivity of E. coli's metabolic functionality to changes in metabolite concentrations. We demonstrate that the structural constraints of the metabolic network together with data on condition-specific flux phenotypes can be effectively used to dissect metabolic regulation on a system-wide level. Copyright © 2016 The Author(s). Published by Elsevier

  9. The way of price regulation implementation in the Slovak Republic is incompatible with the liberalisation principles

    International Nuclear Information System (INIS)

    Salamonova, A.

    2009-01-01

    Even though the electricity market in Slovakia has been fully open since July 2007 and all customers may choose their supplier, last year the Slovak Government and Ministry of Economy adopted measures heading towards repeated market regulation. These measures violate the principles of free competition, such as non-discrimination, transparency and objectivity. (author)

  10. Estimating railway infrastructure project cost from transferring nominal price to real price by considering the working time possessions

    DEFF Research Database (Denmark)

    Li, Rui; Landex, Alex; Salling, Kim Bang

    construction project, the new line to the fixed link across Fehmarn Belt, is introduced where it is shown that the non-material cost is about 19% of the total expenditure. By assuming three sets of track blocking scenarios with the same amount of construction works it is proven that given an optimal track......The purpose of the paper is to estimate railway project construction cost based on the nominal market price. Currently, estimation of project costs within railway infrastructure procurement is particularly challenging due to; 1) construction costs highly depend on possession timeframes and duration...

  11. Applying Toyota Production System principles to a psychiatric hospital: making transfers safer and more timely.

    Science.gov (United States)

    Young, John Q; Wachter, Robert M

    2009-09-01

    Health care organizations have increasingly embraced industrial methods, such as the Toyota Production System (TPS), to improve quality, safety, timeliness, and efficiency. However, the use of such methods in psychiatric hospitals has been limited. A psychiatric hospital applied TPS principles to patient transfers to the outpatient medication management clinics (MMCs) from all other inpatient and outpatient services within the hospital's system. Sources of error and delay were identified, and a new process was designed to improve timely access (measured by elapsed time from request for transfer to scheduling of an appointment and to the actual visit) and patient safety by decreasing communication errors (measured by number of failed transfers). Complexity was substantially reduced, with one streamlined pathway replacing five distinct and more complicated pathways. To assess sustainability, the postintervention period was divided into Period 1 (first 12 months) and Period 2 (next 24 months). Time required to process the transfer and schedule the first appointment was reduced by 74.1% in Period 1 (p < .001) and by an additional 52.7% in Period 2 (p < .0001) for an overall reduction of 87% (p < .0001). Similarly, time to the actual appointment was reduced 31.2% in Period 1 (p < .0001), but was stable in Period 2 (p = .48). The number of transfers per month successfully processed and scheduled increased 95% in the postintervention period compared with the pre-implementation period (p = .015). Finally, data for failed transfers were only available for the postintervention period, and the rate decreased 89% in Period 2 compared with Period 1 (p = .017). The application of TPS principles enhanced access and safety through marked and sustained improvements in the transfer process's timeliness and reliability. Almost all transfer processes have now been standardized.

  12. First principles design of a core bioenergetic transmembrane electron-transfer protein.

    Science.gov (United States)

    Goparaju, Geetha; Fry, Bryan A; Chobot, Sarah E; Wiedman, Gregory; Moser, Christopher C; Leslie Dutton, P; Discher, Bohdana M

    2016-05-01

    Here we describe the design, Escherichia coli expression and characterization of a simplified, adaptable and functionally transparent single chain 4-α-helix transmembrane protein frame that binds multiple heme and light activatable porphyrins. Such man-made cofactor-binding oxidoreductases, designed from first principles with minimal reference to natural protein sequences, are known as maquettes. This design is an adaptable frame aiming to uncover core engineering principles governing bioenergetic transmembrane electron-transfer function and recapitulate protein archetypes proposed to represent the origins of photosynthesis. This article is part of a Special Issue entitled Biodesign for Bioenergetics--the design and engineering of electronic transfer cofactors, proteins and protein networks, edited by Ronald L. Koder and J.L. Ross Anderson. Copyright © 2015 Elsevier B.V. All rights reserved.

  13. First principles design of a core bioenergetic transmembrane electron-transfer protein

    Energy Technology Data Exchange (ETDEWEB)

    Goparaju, Geetha; Fry, Bryan A.; Chobot, Sarah E.; Wiedman, Gregory; Moser, Christopher C.; Leslie Dutton, P.; Discher, Bohdana M.

    2016-05-01

    Here we describe the design, Escherichia coli expression and characterization of a simplified, adaptable and functionally transparent single chain 4-α-helix transmembrane protein frame that binds multiple heme and light activatable porphyrins. Such man-made cofactor-binding oxidoreductases, designed from first principles with minimal reference to natural protein sequences, are known as maquettes. This design is an adaptable frame aiming to uncover core engineering principles governing bioenergetic transmembrane electron-transfer function and recapitulate protein archetypes proposed to represent the origins of photosynthesis. This article is part of a Special Issue entitled Biodesign for Bioenergetics — the design and engineering of electronic transfer cofactors, proteins and protein networks, edited by Ronald L. Koder and J.L. Ross Anderson.

  14. Using Cartoons to Transfer Knowledge Concerning the Principles of Work Disability Prevention Among Stakeholders.

    Science.gov (United States)

    Labrecque, Marie-Elise; Coutu, Marie-France; Durand, Marie-José; Fassier, Jean-Baptiste; Loisel, Patrick

    2016-06-01

    Purpose This study assesses how well two cartoons transfer knowledge of principles of work disability prevention among stakeholders, according to their level of experience. We also document stakeholders' perceptions of the usefulness of the cartoons. Method We performed a descriptive study. Two groups of stakeholders were recruited: (1) experienced (working for more than 2 years in work disability), (2) non-experienced (in training). A self-administered questionnaire with open-ended questions documented stakeholders' understanding of each cartoon box and their perception of the possible usefulness of the cartoons. We transformed qualitative responses into quantitative responses for descriptive purposes. We performed independent t tests to compare the groups' level of understanding, and content analysis for the perception of usefulness. Results Overall, 149 stakeholders (50 experienced and 99 non-experienced) participated and identified 79.4 and 61.4 % of all principles presented in each of the two cartoons respectively. Experienced stakeholders identified more principles compared to non-experienced stakeholders (p = 0.007). Both cartoons were perceived to be useful for knowledge transfer. Conclusions Principles were generally well identified in the cartoons by all participants. Cartoons can be used as an effective tool among stakeholders to achieve a common understanding in order to coordinate their actions.

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

    OpenAIRE

    Panasenko Tetyana

    2015-01-01

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

  16. MARKET ECONOMICS PRICING PARTICULARS

    Directory of Open Access Journals (Sweden)

    V. I. Parshin

    2011-01-01

    Full Text Available The price performs several economic functions: accounting, stimulation, distribution, demand and offer balancing, serving as production site rational choice criterion, information. Most important pricing principles are: price scientific and purpose-aimed substantiation, single pricing and price control process. Pricing process factors are external, internal, basic (independent on money-market, market-determined and controlling. Different pricing methods and models are to be examined, recommendations on practical application of those chosen are to be written.

  17. Another Look at Transfer Prices for Depot-Level Reparables - Marginal Costs: A Revenue Perspective

    National Research Council Canada - National Science Library

    Wallace, John

    1999-01-01

    .... However, a far more compelling reason for such a change would be to lessen the effect on revenue recovery associated with problems in estimating DLR sales, in budgeting customers DLR funding, and in anticipating customers' reaction to new DLR prices.

  18. First-Principles Approach to Heat and Mass Transfer Effects in Model Catalyst Studies

    OpenAIRE

    Matera, Sebastian; Reuter, Karsten

    2009-01-01

    We assess heat and mass transfer limitations in in situ studies of model catalysts with a first-principles based multiscale modeling approach that integrates a detailed description of the surface reaction chemistry and the macro-scale flow structures. Using the CO oxidation at RuO2(110) as a prototypical example we demonstrate that factors like a suppressed heat conduction at the backside of the thin single-crystal, and the build-up of a product boundary layer above the flat-faced surface pla...

  19. Ülkemizde Transfer Fiyatlandırmasının Yol Açtığı Tahmini Kurumlar Vergisi Kaybı(The Estimated Corporate Tax Loss Due To Transfer Pricing In Our Country

    Directory of Open Access Journals (Sweden)

    Serdar PEHLİVAN

    2010-01-01

    Full Text Available States, though in order to grasp taxable income have created legal infrastructure; with the reason of lack of efficient tax audit, they have been exposed to important tax losses due to transfer pricing.The amount of tax losses due to over invoiced imports and under invoiced exports that are determined as estimation; has shown that tax audit had not been efficient in transfer pricing. In order to minimize corporate tax losses that occured due to transfer pricing, it is required to take precautionary measures oriented in increasing efficiency in tax audit

  20. Situated Cognition Principles Increase Students’ Likelihood of Knowledge Transfer in an Online Information Literacy Course

    Directory of Open Access Journals (Sweden)

    Peace Ossom Williamson

    2016-12-01

    Full Text Available A Review of: Catalano, A. (2015. The effect of a situated learning environment in a distance education information literacy course. The Journal of Academic Librarianship, 41(5, 653-659. http://dx.doi:org/10.1016/j.acalib.2015.06.008 Objective – To assess the efficacy of the application of situated cognition principles in education students’ transfer of knowledge to practice in an online information literacy course. “Situation cognition” refers to a theory in which expert behaviour-modeling, authentic activity and apprenticeship, and learning environment are integral in learning. Design – A randomized controlled trial. Setting – A small private university in New York State. Subjects – 85 education college students in 7 sections of a 1-credit online course titled Introduction to Library Research and Technology. Methods – Each course section was randomly assigned via cluster sampling to “situated cognition” treatment (n = 48 or control conditions (n = 37. The treatment sections provided students with expert modeling, scaffolding, authentic activity, and problem-based assessments according to the principles of situated learning and teaching for transfer; while the control sections provided students with traditional instruction of lectures and handouts.

  1. A principle for the noninvasive measurement of steady-state heat transfer parameters in living tissues

    Directory of Open Access Journals (Sweden)

    S. Yu. Makarov

    2014-01-01

    Full Text Available Measuring the parameters of biological tissues (include in vivo is of great importance for medical diagnostics. For example, the value of the blood perfusion parameter is associated with the state of the blood microcirculation system and its functioning affects the state of the tissues of almost all organs. This work describes a previously proposed principle [1] in generalized terms. The principle is intended for noninvasive measuring the parameters of stationary heat transfer in biological tissues. The results of some experiments (natural and numeric are also presented in the research.For noninvasive measurement of thermophysical parameters a number of techniques have been developed using non-stationary thermal process in biological tissue [2][3]. But these techniques require the collecting a lot of data to represent the time-dependent thermal signal. In addition, subsequent processing with specialized algorithms is required for optimal selecting the parameters. The goal of this research is to develop an alternative approach using stationary thermal process for non-invasive measuring the parameters of stationary heat transfer in living tissues.A general principle can be formulated for the measurement methods based on this approach. Namely, the variations (changes of two physical values are measured in the experiment at the transition from one thermal stationary state to another. One of these two physical values unambiguously determines the stationary thermal field into the biological tissue under specified experimental conditions while the other one is unambiguously determined through the thermal field. Then, the parameters can be found from the numerical (or analytical functional dependencies linking the measured variations because the dependencies contain unknown parameters.The dependencies are expressed in terms of the formula:dqi = fi({pj},Ui dUi,Here dqi is a variation of a physical value q which is unambiguously determined from the

  2. Numerical simulation of conjugate heat transfer in electronic cooling and analysis based on field synergy principle

    International Nuclear Information System (INIS)

    Cheng, Y.P.; Lee, T.S.; Low, H.T.

    2008-01-01

    In this paper, the conjugate heat transfer in electronic cooling is numerically simulated with the newly proposed algorithm CLEARER on collocated grid. Because the solid heat source and substrate are isolated from the boundary, special attention is given to deal with the velocity and temperature in the solid region in the full field computation. The influence of openings on the substrate, heat source height and their distribution along the substrate on the maximum temperature and overall Nusselt number is investigated. The numerical results show that the openings on the substrate can enhance the heat transfer as well as increasing the heat source height, meanwhile, by arranging the heat sources coarsely in the front part and densely in the rear part of the substrate, the thermal performance can also be increased. Then the results are analyzed from the viewpoint of field synergy principle, and it is shown that the heat transfer improvement can all be attributed to the better synergy between the velocity field and temperature field, which may offer some guidance in the design of electronic devices

  3. Examining the Effect of World Price Transfer to Domestic Markets for Sensitive and Certain Agricultural Products in Iran

    Directory of Open Access Journals (Sweden)

    M. shabanzadeh

    2016-03-01

    Full Text Available Introduction: Agriculture as one of old sectors of economy has been important role in the supply food for peoples and raw materials. Globalization causes rapid growth of world trade and reduces information and communications costs. Globalization and rapid growth of trade increases the potential benefits of trade for agriculture from various aspects. The potential benefits of trade for agriculture increases from three aspects. Direct increase in the domain of agricultural sector activities for competition in the global market results in the benefits of access to global markets. This is especially true in cases where there is comparative advantage and the indirect effects of increased global trade on non-agricultural sectors that cause the domestic demand for food change from qualitative and quantitative aspects, are the benefits of this event. However, during the process of globalization, how to influence prices in different markets, including the impact of world prices on domestic prices is an important issue in trade policy analysis. During this process domestic prices are directly related to world prices. With this approach, the main objective of this study is to examine the effect of world price transfers to domestic markets for sensitive and certain agricultural products in Iran during 1360-91. Materials and Methods: To achieve this goal in this study, the Armington and the foreign currency elasticity of ten selected agricultural products in Iran including wheat, barley, rice, corn, soybean meal, vegetable oil (soybean and sunflower, sugar, eggs, poultry and beef, have been estimated and examined using Autoregressive Distribution lag Model (ARDL. In order to investigate speed of adjustment or in other words the speed of movement towards equilibrium, typically the error correction model (ECM is used. Existence of cointegration or in other words, long term relationship between a set of economic variables provide the basis for the use of error

  4. Making Benefit Transfers Work: Deriving and Testing Principles for Value Transfers for Similar and Dissimilar Sites Using a Case Study of the Non-Market Benefits of Water Quality Improvements Across Europe

    DEFF Research Database (Denmark)

    Bateman, Ian; Brouwer, Roy; Ferreri, Silvia

    2011-01-01

    We implement a controlled, multi-site experiment to develop and test guidance principles for benefits transfers. These argue that when transferring across relatively similar sites, simple mean value transfers are to be preferred but that when sites are relatively dissimilar then value function...... transfers will yield lower errors. The paper also provides guidance on the appropriate specification of transferable value functions arguing that these should be developed from theoretical rather than ad-hoc statistical approaches. These principles are tested via a common format valuation study of water...... quality improvements across five countries. While this provides an idealised tested, results support the above principles and suggest directions for future transfer studies....

  5. Transferring and practicing the correspondence principle in the old quantum theory: Franck, Hund and the Ramsauer effect

    Energy Technology Data Exchange (ETDEWEB)

    Jaehnert, Martin [MPIWG, Berlin (Germany)

    2013-07-01

    In 1922 Niels Bohr wrote a letter to Arnold Sommerfeld complaining that: ''[i]n the last years my attempts to develop the principles of quantum theory were met with very little understanding.'' Looking for the correspondence idea in publications, one finds that the principle was indeed hardly applied by physicists outside of Copenhagen. Only by 1922 physicists from wider research networks of quantum theory started to transfer the principle into their research fields, often far removed from its initial realm of atomic spectroscopy. How and why did physicists suddenly become interested in the idea that Bohr*s writings had been promoting since 1918? How was the correspondence principle transferred to these fields and how did its transfer affect these fields and likewise the correspondence principle itself? To discuss these questions, my talk focuses on the work of James Franck and Friedrich Hund on the Ramsauer effect in 1922 and follows the interrelation of the developing understanding of a newly found effect and the adaptation of the correspondence idea in a new conceptual and sociological context.

  6. The Ground Rules for Effective OBAs: Principles for Addressing Carbon-Pricing Competitiveness Concerns through the Use of Output-Based Allocations

    Directory of Open Access Journals (Sweden)

    Sarah Dobson

    2017-06-01

    Full Text Available The federal government’s decision to impose a minimum national price on carbon emissions has the potential to make certain businesses in the country less competitive. Specifically, there are emissions-intensive and trade-exposed industries across Canada that compete against producers from other jurisdictions where governments do not put a price on carbon. For these industries, the obligation to pay a carbon price creates a competitive disadvantage. Specifically, these businesses will face higher costs and may encounter a loss of market share to international competitors from jurisdictions that lack the same emission-control measures. That not only hurts Canadian businesses, it could also negate any emissions reductions that carbon pricing in Canada achieves on a global scale. The federal government has opted to protect such emissions-intensive, tradeexposed businesses using subsidies called output-based allocations (OBAs. This is the same system that Alberta is introducing through its forthcoming Carbon Competiveness Regulation. It also shares certain similarities with cap-and-trade programs, such as those in Ontario and Quebec, which provide free allocations of emissions permits to certain firms. OBAs are a desirable complementary policy to a carbon price as they maintain the incentive for producers to invest in production methods and facilities that are less emissions intensive. So while producers are still, nevertheless, subsidized to offset the tax burden of the carbon price, they will, under an OBA system, see greater benefits the more they work to reduce their emissions intensity. Still, to function most effectively and most efficiently, an OBA policy should follow certain key principles. The most critical principle in the design of an OBA policy is ensuring that OBAs are allocated to facilities independent of their individual emission levels, and allocated equally (on a per unit basis to facilities producing the same product. One of the

  7. PRICE AND PRICING STRATEGIES

    OpenAIRE

    SUCIU Titus

    2013-01-01

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

  8. The effectiveness of signaling principle in virtual reality courseware towards achievement of transfer learning among students with different spatial ability

    Science.gov (United States)

    Yahaya, Wan Ahmad Jaafar Wan; Ahmad, Awaatif

    2017-10-01

    Past research revealed that students and society, in general, are relatively under-skilled in performing the practice of Islamic funeral management which is one of the "ibadah fardu kifayah" (a legal obligation that must be discharged by the Muslim community as a whole) in Islam. Participation among youth in managing funerals is relatively low, partly due to the ineffectiveness of the instructional approach. This paper aims to examine the effectiveness of the signaling principle in virtual reality courseware pertaining to the topic of Islamic Funeral Management in the Islamic Education subject to ensure the accomplishment of transfer learning among students with different spatial abilities. The study comprises of two phases namely the courseware development phase and treatment phase. The courseware development employs the Instructional Design Model by Alessi and Trollip. Besides that, the courseware is integrated with components of CLE, principles in Theory of CATLM and signaling principle in multimedia learning. The sample consisted of 130 Form Two students who were selected randomly from four Malaysian secondary schools. They were divided into two experimental groups with 63 students in group one and 67 students in group two. The experimental group one used VR courseware without the signaling principle (VRTI) while experimental group two used the VR courseware with the signaling principle (VRDI). The experiment lasted for three weeks. ANOVA was utilised to analyse the data from this research. The findings showed significant differences between students who used VRDI in the transfer of learning compared to students who used VRTI.

  9. Simulating Price-Taking

    Science.gov (United States)

    Engelhardt, Lucas M.

    2015-01-01

    In this article, the author presents a price-takers' market simulation geared toward principles-level students. This simulation demonstrates that price-taking behavior is a natural result of the conditions that create perfect competition. In trials, there is a significant degree of price convergence in just three or four rounds. Students find this…

  10. Electricity pricing

    International Nuclear Information System (INIS)

    Wijayatunga, P.D.C.

    1994-01-01

    Electricity pricing in most countries, especially in the developing world, has been determined by traditional accounting criteria where it raises revenue requirements to cover the operating costs and a return on past and future capital investments in possible power systems. The use of economic principles to improve the total economic efficiency in the electricity industry is discussed. Basic marginal cost theory, long run marginal costing (LRMC) cost categories and rating periods, marginal capacity costs, marginal energy costs, consumer costs, short run marginal costing (SRMC), marginal cost of fuel, marginal cost of network losses, market clearing price, value of unserved energy and network quality of supply cost are discussed

  11. Pricing public transport services

    OpenAIRE

    Jansson, Jan Owen; Holmgren, Johan; Ljungberg, Anders

    2015-01-01

    This chapter aims at outlining pricing policy for public transport that maximizes the social surplus, that is, the sum of the producer surplus and the consumer surplus, while internalizing possible system-external costs. It starts by presenting the door-to-door transport cost as a key concept in price theory for public transport, and then first principles of optimal pricing valid for all modes of public transport are laid down. These principles are applied to urban (short-distance) public tra...

  12. The Obstacle Version of the Geometric Dynamic Programming Principle: Application to the Pricing of American Options Under Constraints

    International Nuclear Information System (INIS)

    Bouchard, Bruno; Vu, Thanh Nam

    2010-01-01

    We provide an obstacle version of the Geometric Dynamic Programming Principle of Soner and Touzi (J. Eur. Math. Soc. 4:201-236, 2002) for stochastic target problems. This opens the doors to a wide range of applications, particularly in risk control in finance and insurance, in which a controlled stochastic process has to be maintained in a given set on a time interval [0,T]. As an example of application, we show how it can be used to provide a viscosity characterization of the super-hedging cost of American options under portfolio constraints, without appealing to the standard dual formulation from mathematical finance. In particular, we allow for a degenerate volatility, a case which does not seem to have been studied so far in this context.

  13. Optimal transfer, ordering and payment policies for joint supplier-buyer inventory model with price-sensitive trapezoidal demand and net credit

    Science.gov (United States)

    Shah, Nita H.; Shah, Digeshkumar B.; Patel, Dushyantkumar G.

    2015-07-01

    This study aims at formulating an integrated supplier-buyer inventory model when market demand is variable price-sensitive trapezoidal and the supplier offers a choice between discount in unit price and permissible delay period for settling the accounts due against the purchases made. This type of trade credit is termed as 'net credit'. In this policy, if the buyer pays within offered time M1, then the buyer is entitled for a cash discount; otherwise the full account must be settled by the time M2; where M2 > M1 ⩾ 0. The goal is to determine the optimal selling price, procurement quantity, number of transfers from the supplier to the buyer and payment time to maximise the joint profit per unit time. An algorithm is worked out to obtain the optimal solution. A numerical example is given to validate the proposed model. The managerial insights based on sensitivity analysis are deduced.

  14. Normative foundations of technology transfer and transnational benefit principles in the UNESCO Universal Declaration on Bioethics and Human Rights.

    Science.gov (United States)

    Faunce, Thomas Alured; Nasu, Hitoshi

    2009-06-01

    The United Nations Scientific, Education, and Cultural Organization Universal Declaration on Bioethics and Human Rights (UDBHR) expresses in its title and substance a controversial linkage of two normative systems: international human rights law and bioethics. The UDBHR has the status of what is known as a "nonbinding" declaration under public international law. The UDBHR's foundation within bioethics (and association, e.g., with virtue-based or principlist bioethical theories) is more problematic. Nonetheless, the UDBHR contains socially important principles of technology transfer and transnational benefit (articles 14, 15, and 21). This paper is one of the first to explore how the disciplines of bioethics and international human rights law may interact in the UDBHR to advance the policy relevance and health impact of such principles. It investigates their normative ancestry in the UDBHR, as well as relevant conceptual differences between bioethics and public international law in this respect, and how these may be relevant to their conceptual evolution and application.

  15. Taking the Concept of Citizenship in Mental Health across Countries. Reflections on Transferring Principles and Practice to Different Sociocultural Contexts

    Science.gov (United States)

    Eiroa-Orosa, Francisco José; Rowe, Michael

    2017-01-01

    Transferring principles and practices to different sociocultural and professional contexts in the field of mental health can be very complex. Previous research on public health policy points to difficulties in different areas such as the understanding the new concepts, their applicability in different health systems, and suitable approaches to its effective implementation. The purpose of this article is to describe and analyze the process of transferring the concept of Citizenship, from its United States origins in mental health outreach work with persons who are homeless to Catalonia, Spain. We define Citizenship as promoting the rights, responsibilities, roles, resources and relationships of persons with mental illnesses, along with a sense of belonging that is validated by other citizens. The process of this transition involves embedding Citizenship in the mental health “first-person” (internationally known as Consumer/Survivor/Peer) movement in Catalonia. The paper includes a discussion of the concept of transference, including a case example of the adoption of the concept of mental health recovery in different countries. Following this, we describe the United States Citizenship model and key elements of its development. We then turn to Spain and the evolution of its mental health system, and then to Catalonia for a brief case history of transference of the principles and practices of Citizenship to that region. The “take home message” of this work is that concepts being brought from one sociocultural and national context to another, must focus on contextualization in the ‘adoptee’s’ practices, including the balance between personal involvement and professional rigor, the involvement of key actors, and ongoing evaluation of actions taken. PMID:28680412

  16. Taking the Concept of Citizenship in Mental Health across Countries. Reflections on Transferring Principles and Practice to Different Sociocultural Contexts.

    Science.gov (United States)

    Eiroa-Orosa, Francisco José; Rowe, Michael

    2017-01-01

    Transferring principles and practices to different sociocultural and professional contexts in the field of mental health can be very complex. Previous research on public health policy points to difficulties in different areas such as the understanding the new concepts, their applicability in different health systems, and suitable approaches to its effective implementation. The purpose of this article is to describe and analyze the process of transferring the concept of Citizenship, from its United States origins in mental health outreach work with persons who are homeless to Catalonia, Spain. We define Citizenship as promoting the rights, responsibilities, roles, resources and relationships of persons with mental illnesses, along with a sense of belonging that is validated by other citizens. The process of this transition involves embedding Citizenship in the mental health "first-person" (internationally known as Consumer/Survivor/Peer) movement in Catalonia. The paper includes a discussion of the concept of transference, including a case example of the adoption of the concept of mental health recovery in different countries. Following this, we describe the United States Citizenship model and key elements of its development. We then turn to Spain and the evolution of its mental health system, and then to Catalonia for a brief case history of transference of the principles and practices of Citizenship to that region. The "take home message" of this work is that concepts being brought from one sociocultural and national context to another, must focus on contextualization in the 'adoptee's' practices, including the balance between personal involvement and professional rigor, the involvement of key actors, and ongoing evaluation of actions taken.

  17. Taking the Concept of Citizenship in Mental Health across Countries. Reflections on Transferring Principles and Practice to Different Sociocultural Contexts

    Directory of Open Access Journals (Sweden)

    Francisco José Eiroa-Orosa

    2017-06-01

    Full Text Available Transferring principles and practices to different sociocultural and professional contexts in the field of mental health can be very complex. Previous research on public health policy points to difficulties in different areas such as the understanding the new concepts, their applicability in different health systems, and suitable approaches to its effective implementation. The purpose of this article is to describe and analyze the process of transferring the concept of Citizenship, from its United States origins in mental health outreach work with persons who are homeless to Catalonia, Spain. We define Citizenship as promoting the rights, responsibilities, roles, resources and relationships of persons with mental illnesses, along with a sense of belonging that is validated by other citizens. The process of this transition involves embedding Citizenship in the mental health “first-person” (internationally known as Consumer/Survivor/Peer movement in Catalonia. The paper includes a discussion of the concept of transference, including a case example of the adoption of the concept of mental health recovery in different countries. Following this, we describe the United States Citizenship model and key elements of its development. We then turn to Spain and the evolution of its mental health system, and then to Catalonia for a brief case history of transference of the principles and practices of Citizenship to that region. The “take home message” of this work is that concepts being brought from one sociocultural and national context to another, must focus on contextualization in the ‘adoptee’s’ practices, including the balance between personal involvement and professional rigor, the involvement of key actors, and ongoing evaluation of actions taken.

  18. Price, Virtues, Principles: How to Discern What Inspires Best Practices in Water Management? A Case Study about Small Farmers in the Yucatan Peninsula of Mexico

    Directory of Open Access Journals (Sweden)

    Rafael R. Ramírez

    2016-04-01

    Full Text Available Improving water practices among small farmers in a water scarce area like the Yucatan Peninsula in Mexico is a complex task. Despite government attempts to enforce regulations and question the possibility of adjusting prices, the misuse of this scarce resource continues. Most farmers are, at best, motivated to aim for a minimum level of compliance, with very few striving to engage in best practices. This article seeks to make a proposal about the best drivers for inspiring best practices in an effort to improve the use of water management in the area. It proposes that a virtue ethics approach that explicitly focuses on the cultivation of an attitude of respect for water founded on three key principles (participation, hydrosolidarity and proactive engagement is the best solution for Yucatan. This hypothesis is the result of developing a singular methodology based on Partial Least Squares (PLS, according to structural equation modeling (SEM, that could be replicated anywhere to ascertain which measures are best suited in a particular context. Using a small sample size, this research ascertains what is required to achieve best practices with regards to the management of water in that particular area.

  19. The role of Japanese expatriates when Japanese companies transfer kaizen principles to their overseas affiliates

    NARCIS (Netherlands)

    Yokozawa, Kodo; Steenhuis, H.J.; de Bruijn, E.J.

    2011-01-01

    This paper examines the challenges faced by Japanese manufacturers during the process of transferring kaizen to overseas subsidiaries. Case study research was conducted among l5 Japanese manufacturers in the Netherlands. The first-level analysis confirms the conclusions from the literature that the

  20. Charge transfer from first principles: self-consistent GW applied to donor-acceptor systems

    Science.gov (United States)

    Atalla, Viktor; Caruso, Fabio; Rubio, Angel; Scheffler, Matthias; Rinke, Patrick

    2015-03-01

    Charge transfer in donor-acceptor systems (DAS) is determined by the relative alignment between the frontier orbitals of the donor and the acceptor. Semi-local approximations to density functional theory (DFT) may give a qualitatively wrong level alignment in DAS, leading to unphysical fractional electron transfer in weakly bound donor-acceptor pairs. GW calculations based on first-order perturbation theory (G0W0) correct the level alignment, but leave unaffected the electron density. We demonstrate that self-consistent GW (sc GW) provides an ideal framework for the description of charge transfer in DAS. Moreover, sc GW seamlessly accounts for many-body correlations and van der Waals interactions. As in G0W0 , the sc GW level alignment is in agreement with experimental reference data. However in sc GW , also the electron density is treated at the GW level and, therefore, it is consistent with the level alignment between donor and acceptor leading to a qualitatively correct description of charge-transfer properties.

  1. Simulation of the steady-state energy transfer in rigid bodies, with convective-radiative boundary conditions, employing a minimum principle

    International Nuclear Information System (INIS)

    Gama, R.M.S. da.

    1992-08-01

    The energy transfer phenomenon in a rigid and opaque body that exchanges energy, with the environment, by convection and by diffuse thermal radiation is studied. The considered phenomenon is described by a partial differential equation, subjected to (nonlinear) boundary conditions. A minimum principle, suitable for a large class of energy transfer problems is presented. Some particular cases are simulated. (author)

  2. Numerical simulation of turbulent flow and heat transfer in a parallel channel. Verification of the field synergy principle

    International Nuclear Information System (INIS)

    Tian Wenxi; Su, G.H.; Qiu Suizheng; Jia Dounan

    2004-01-01

    The field synergy principle was proposed by Guo(1998) which is based on 2-D boundary laminar flow and it resulted from a second look at the mechanism of convective heat transfer. Numerical verification of this principle's validity for turbulent flow has been carried out by very few researchers, and mostly commercial software such as FLUENT, CFX etc. were used in their study. In this paper, numerical simulation of turbulent flow with recirculation was developed using SIMPLE algorithm with two-equation k-ε model. Extension of computational region method and wall function method were quoted to regulate the whole computational region geometrically. Given the inlet Reynold number keeps constant: 10000, by changing the height of the solid obstacle, simulation was conducted and the result showed that the wall heat flux decreased with the angle between the velocity vector and the temperature gradient. Thus it is validated that the field synergy principle based on 2-D boundary laminar flow can also be applied to complex turbulent flow even with recirculation. (author)

  3. First-principles investigation of isomerization by proton transfer in β-fumaric acid crystal

    Science.gov (United States)

    Dopieralski, P.; Panek, J.; Latajka, Z.

    2009-04-01

    Crystal structure of fumaric acid was investigated by Car-Parrinello molecular dynamics and Path Integral molecular dynamics. We propose a mechanism of isomerization by proton transfer in the solid state. It is shown that the three conformers of fumaric acid observed in cryogenic Ar matrix are also present in the solid. Standard ab initio Car-Parrinello dynamics of the studied solid at 100 K indicates that barrier height for proton transfer is too high to enable thermal jump over the barrier. Path Integral method in this particular case significantly changes proton behavior in the hydrogen bridge, and the proton tunneling process is observed. Vibrational spectra of investigated system HOOC-CH=CH-COOH and its deuterated analog DOOC-CH=CH-COOD were calculated and compared with experimental data.

  4. First-principles investigation of isomerization by proton transfer in beta-fumaric acid crystal.

    Science.gov (United States)

    Dopieralski, P; Panek, J; Latajka, Z

    2009-04-28

    Crystal structure of fumaric acid was investigated by Car-Parrinello molecular dynamics and Path Integral molecular dynamics. We propose a mechanism of isomerization by proton transfer in the solid state. It is shown that the three conformers of fumaric acid observed in cryogenic Ar matrix are also present in the solid. Standard ab initio Car-Parrinello dynamics of the studied solid at 100 K indicates that barrier height for proton transfer is too high to enable thermal jump over the barrier. Path Integral method in this particular case significantly changes proton behavior in the hydrogen bridge, and the proton tunneling process is observed. Vibrational spectra of investigated system HOOC-CH=CH-COOH and its deuterated analog DOOC-CH=CH-COOD were calculated and compared with experimental data.

  5. Transfer of chirality in new supramolecular complexes as design principle for future asymmetric catalysts

    OpenAIRE

    Degenbeck, Helmut

    2011-01-01

    During the course of the thesis libraries of chiral (1,2)-diamines and prochiral 2,2’-biphenol derivatives were synthesised. The transfer of chirality from the diamine to the biphenol moiety mediated either by hydrogen bonding or coordination to a metal centre (ZnII, CuII) was demonstrated by CD (circular dicroism). The behaviour in solution of the hydrogen bonded complexes was investigated by NMR spectroscopy, UV-vis and ITC titrations (determination of association constants. The determinati...

  6. First principles molecular dynamics of molten NaI: Structure, self-diffusion, polarization effects, and charge transfer

    Science.gov (United States)

    Galamba, N.; Costa Cabral, B. J.

    2007-09-01

    The structure and self-diffusion of NaI and NaCl at temperatures close to their melting points are studied by first principles Hellmann-Feynman molecular dynamics (HFMD). The results are compared with classical MD using rigid-ion (RI) and shell-model (ShM) interionic potentials. HFMD for NaCl was reported before at a higher temperature [N. Galamba and B. J. Costa Cabral, J. Chem. Phys. 126, 124502 (2007)]. The main differences between the structures predicted by HFMD and RI MD for NaI concern the cation-cation and the anion-cation pair correlation functions. A ShM which allows only for the polarization of I- reproduces the main features of the HFMD structure of NaI. The inclusion of polarization effects for both ionic species leads to a more structured ionic liquid, although a good agreement with HFMD is also observed. HFMD Green-Kubo self-diffusion coefficients are larger than those obtained from RI and ShM simulations. A qualitative study of charge transfer in molten NaI and NaCl was also carried out with the Hirshfeld charge partitioning method. Charge transfer in molten NaI is comparable to that in NaCl, and results for NaCl at two temperatures support the view that the magnitude of charge transfer is weakly state dependent for ionic systems. Finally, Hirshfeld charge distributions indicate that differences between RI and HFMD results are mainly related to polarization effects, while the influence of charge transfer fluctuations is minimal for these systems.

  7. Two 100 m Invar® Transfer Lines at CERN : Design Principles and Operating Experience for Helium Refrigeration

    CERN Document Server

    Claudet, S; Millet, F; Roussel, E; Sengelin, J P

    2005-01-01

    The distribution of helium for the Large Hadron Collider (LHC), at CERN, will require a large variety of transfer lines. At the time of qualification of possible technologies, Invar® was investigated as potential material for internal tubes. Intensive developments were made in industry to qualify the use of Invar® M93 and its associated welding parameters. Although all tests showed good perspective, the risk associated with the lack of proven reference turned out to be dissuasive with respect to the possible cost savings for the LHC cryogenic system. However, since DN100 transfer lines were necessary for the supply and return of a test facility over a distance of 100 m, an Invar® based solution was considered, as repair or exchange would have been less dramatic than in the LHC accelerator tunnel. After recalling the technical requirements, the required material qualification will be presented as well as the design principles and operating features. This equipment has been first cooled-down to 4.5 K and acc...

  8. Symmetric geometric transfer matrix partial volume correction for PET imaging: principle, validation and robustness

    Science.gov (United States)

    Sattarivand, Mike; Kusano, Maggie; Poon, Ian; Caldwell, Curtis

    2012-11-01

    Limited spatial resolution of positron emission tomography (PET) often requires partial volume correction (PVC) to improve the accuracy of quantitative PET studies. Conventional region-based PVC methods use co-registered high resolution anatomical images (e.g. computed tomography (CT) or magnetic resonance images) to identify regions of interest. Spill-over between regions is accounted for by calculating regional spread functions (RSFs) in a geometric transfer matrix (GTM) framework. This paper describes a new analytically derived symmetric GTM (sGTM) method that relies on spill-over between RSFs rather than between regions. It is shown that the sGTM is mathematically equivalent to Labbe's method; however it is a region-based method rather than a voxel-based method and it avoids handling large matrices. The sGTM method was validated using two three-dimensional (3D) digital phantoms and one physical phantom. A 3D digital sphere phantom with sphere diameters ranging from 5 to 30 mm and a sphere-to-background uptake ratio of 3-to-1 was used. A 3D digital brain phantom was used with four different anatomical regions and a background region with different activities assigned to each region. A physical sphere phantom with the same geometry and uptake as the digital sphere phantom was manufactured and PET-CT images were acquired. Using these three phantoms, the performance of the sGTM method was assessed against that of the GTM method in terms of accuracy, precision, noise propagation and robustness. The robustness was assessed by applying mis-registration errors and errors in estimates of PET point spread function (PSF). In all three phantoms, the results showed that the sGTM method has accuracy similar to that of the GTM method and within 5%. However, the sGTM method showed better precision and noise propagation than the GTM method, especially for spheres smaller than 13 mm. Moreover, the sGTM method was more robust than the GTM method when mis-registration errors or

  9. Symmetric geometric transfer matrix partial volume correction for PET imaging: principle, validation and robustness

    International Nuclear Information System (INIS)

    Sattarivand, Mike; Caldwell, Curtis; Kusano, Maggie; Poon, Ian

    2012-01-01

    Limited spatial resolution of positron emission tomography (PET) often requires partial volume correction (PVC) to improve the accuracy of quantitative PET studies. Conventional region-based PVC methods use co-registered high resolution anatomical images (e.g. computed tomography (CT) or magnetic resonance images) to identify regions of interest. Spill-over between regions is accounted for by calculating regional spread functions (RSFs) in a geometric transfer matrix (GTM) framework. This paper describes a new analytically derived symmetric GTM (sGTM) method that relies on spill-over between RSFs rather than between regions. It is shown that the sGTM is mathematically equivalent to Labbe's method; however it is a region-based method rather than a voxel-based method and it avoids handling large matrices. The sGTM method was validated using two three-dimensional (3D) digital phantoms and one physical phantom. A 3D digital sphere phantom with sphere diameters ranging from 5 to 30 mm and a sphere-to-background uptake ratio of 3-to-1 was used. A 3D digital brain phantom was used with four different anatomical regions and a background region with different activities assigned to each region. A physical sphere phantom with the same geometry and uptake as the digital sphere phantom was manufactured and PET-CT images were acquired. Using these three phantoms, the performance of the sGTM method was assessed against that of the GTM method in terms of accuracy, precision, noise propagation and robustness. The robustness was assessed by applying mis-registration errors and errors in estimates of PET point spread function (PSF). In all three phantoms, the results showed that the sGTM method has accuracy similar to that of the GTM method and within 5%. However, the sGTM method showed better precision and noise propagation than the GTM method, especially for spheres smaller than 13 mm. Moreover, the sGTM method was more robust than the GTM method when mis-registration errors or

  10. First principles study of the magnetic properties and charge transfer of Ni-doped BiFeO3

    Science.gov (United States)

    Sun, Yuan; Sun, Zhenghao; Wei, Ren; Huang, Yuxin; Wang, Lili; Leng, Jing; Xiang, Peng; Lan, Min

    2018-03-01

    We present a first-principles study of electronic structures and magnetic properties in Ni-doped BiFeO3 using the density functional theory + U methods. The BiNixFe1-xO3 (x = 0.125, 0.25, 0.5) multiferroic ceramics represent ferromagnetic properties due to the ferrimagnetic order in Ni-O-Fe, and the magnetic moment rises with increase in Ni doping concentration agreeing well with experimental results. Ni atoms prefer to occupy the diagonal positions in the quasi-plane Ni-O-Fe eight-membered ring. Charge transfer from Bi 6s state to Ni 3d state through O 2p orbital lead to the 2+ oxidation state of Ni, indicating high Néel temperatures of BiNixFe1-xO3, and the electronic state of the system can be described as Bi4+xBi3+1-xNi2+xFe3+1-xO3. The spin polarization of Bi 6s state and O 2p state near the Fermi level contributes to the total magnetic moment. A spin-polarized acceptor level of about 0.4 eV constituted by Bi 6s state and O 2p state is found, which is responsible for the increase in leakage current of Ni-doped BiFeO3.

  11. Comparison of the effects of conditional food and cash transfers of the Ethiopian Productive Safety Net Program on household food security and dietary diversity in the face of rising food prices: ways forward for a more nutrition-sensitive program.

    Science.gov (United States)

    Baye, Kaleab; Retta, Negussie; Abuye, Cherinet

    2014-09-01

    In light of the continuing rise in food prices during and after the 2008 world food crisis, whether food and cash transfers are equally effective in improving food security and diet quality is debatable. To compare the effects of conditional food and cash transfers of the Ethiopian Productive Safety Net Program (PSNP) on household food security and dietary diversity. Data on household dietary diversity, child anthropometry, food security, and preference of transfer modalities (food, cash, or mixed) were generated from a cross-sectional survey of 195 PSNP beneficiary households (67 receiving food and 128 receiving cash) in Hawella Tulla District, Sidama, southern Ethiopia. Most beneficiaries (96%) reported food shortages, and 47% reported food shortages that exceeded 3 months. Households receiving cash had better household dietary diversity scores (p = .02) and higher consumption of oils and fats (p = .003) and vitamin A-rich foods (p = .002). Compared with households receiving food, households receiving cash were more affected by increases in food prices that forced them to reduce their number of daily meals (p < .001) and spend less on nonstaples (p < .001). While most households receiving food (82%) preferred to continue receiving food, households receiving cash (56%) preferred a mix of food and cash. Households receiving cash had better household dietary diversity than households receiving food, a result suggesting that cash transfers may be more effective. However, the continuing rise infood prices may offset these benefits unless cash transfers are index-linked to food price fluctuations.

  12. Dynamic Pricing

    DEFF Research Database (Denmark)

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

    2017-01-01

    Dynamic pricing scheme, also known as real-time pricing (RTP), can be more efficient and technically beneficial than the other price-based schemes (such as flat-rate or time-of-use (TOU) pricing) for enabling demand response (DR) actions. Over the past few years, advantages of RTP-based schemes h...

  13. Price fairness

    OpenAIRE

    Diller, Hermann

    2013-01-01

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

  14. Feed-in Tariff Pricing and Social Burden in Japan: Evaluating International Learning through a Policy Transfer Approach

    Directory of Open Access Journals (Sweden)

    Yugo Tanaka

    2017-10-01

    Full Text Available Feed-in tariff (FiT policy approaches for renewable energy (RE deployment are employed in many nations around the world. Although FiTs are considered effective in boosting RE deployment, the issue of increasing energy bills and social burden is an often-reported negative impact of their use. The FiT has been employed in Japan since 2012, following after many developed countries, and, as was experienced in other nations, led to a social burden imparted on society significantly higher than initial government estimates. Although policy decision making does not necessarily reflect international policy experience, it is still prudent to ask how international policy experiences of social burden increase were considered within the Japanese approach. In this research, we analyzed the transfer process by adapting a conventional model to develop more objective observations than was previously possible, by setting a benchmark for evaluation based on prior international experiences. We identified two streams of policy transfer, each led by different actors; the government and representatives of the National Diet of Japan (Diet. Both actors were exposed to the same experiences, however the interpretation, application to policy development and priority settings employed were vastly different. Although the framework can only assess policy learning processes, we have found that the government undertook a reasonable and rational process toward learning, while, on the other hand, the modified bill developed by the Diet members did not thoroughly derive learnings in the same way, due to cognitive and political reasons, and specifically, the issue of limiting social burden was not addressed.

  15. Application of field synergy principle for optimization fluid flow and convective heat transfer in a tube bundle of a pre-heater

    International Nuclear Information System (INIS)

    Hamid, Mohammed O.A.; Zhang, Bo; Yang, Luopeng

    2014-01-01

    The big problems facing solar-assisted MED (multiple-effect distillation) desalination unit are the low efficiency and bulky heat exchangers, which worsen its systematic economic feasibility. In an attempt to develop heat transfer technologies with high energy efficiency, a mathematical study is established, and optimization analysis using FSP (field synergy principle) is proposed to support meaning of heat transfer enhancement of a pre-heater in a solar-assisted MED desalination unit. Numerical simulations are performed on fluid flow and heat transfer characteristics in a circular and elliptical tube bundle. The numerical results are analyzed using the concept of synergy angle and synergy number as an indication of synergy between velocity vector and temperature gradient fields. Heat transfer in elliptical tube bundle is enhanced significantly with increasing initial velocity of the feed seawater and field synergy number and decreasing of synergy angle. Under the same operating conditions of the two designs, the total average synergy angle is 78.97° and 66.31° in circular and elliptical tube bundle, respectively. Optimization of the pre-heater by FSP shows that in case of elliptical tube bundle design, the average synergy number and heat transfer rate are increased by 22.68% and 35.98% respectively. - Highlights: • FSP (field synergy principle) is used to investigate heat transfer enhancement. • Numerical simulations are performed in circular and elliptical tubes pre-heater. • Numerical results are analyzed using concept of synergy angle and synergy number. • Optimization of elliptical tube bundle by FSP has better performance

  16. Price Discrimination

    OpenAIRE

    Armstrong, M.

    2008-01-01

    This paper surveys recent economic research on price discrimination, both in monopoly and oligopoly markets. Topics include static and dynamic forms of price discrimination, and both final and input markets are considered. Potential antitrust aspects of price discrimination are highlighted throughout the paper. The paper argues that the informational requirements to make accurate policy are very great, and with most forms of price discrimination a laissez-faire policy may be the best availabl...

  17. Gold prices

    OpenAIRE

    Joseph G. Haubrich

    1998-01-01

    The price of gold commands attention because it serves as an indicator of general price stability or inflation. But gold is also a commodity, used in jewelry and by industry, so demand and supply affect its pricing and need to be considered when gold is a factor in monetary policy decisions.

  18. Proposed Principles for Promoting Pre-Service Teacher Transfer of Group-Based Learning to the Classroom: A Discussion Paper

    Science.gov (United States)

    de Jong, Terry; Cullity, Marguerite; Sharp, Sue; Spiers, Sue; Wren, Julia

    2010-01-01

    The effective "transfer" of knowledge and skills from university to the workplace is of global interest, yet this area of inquiry lacks research. Teacher educators, for example, require information on how to advance pre-service teachers' transfer of group-based learning to the primary school classroom (Scott & Baker, 2003). Group-based learning…

  19. Three-dimensional numerical study of heat transfer characteristics of plain plate fin-and-tube heat exchangers from view point of field synergy principle

    International Nuclear Information System (INIS)

    He, Y.L.; Tao, W.Q.; Song, F.Q.; Zhang, W.

    2005-01-01

    In this paper, 3-D numerical simulations were performed for laminar heat transfer and fluid flow characteristics of plate fin-and-tube heat exchanger. The effects of five factors were examined: Re number, fin pitch, tube row number, spanwise and longitudinal tube pitch. The Reynolds number based on the tube diameter varied from 288 to 5000, the non-dimensional fin pitch based on the tube diameter varied from 0.04 to 0.5, the tube row number from 1 to 4, the spanwise tube pitch S 1 /d varies from 1.2 to 3, and the longitudinal tube pitch S 2 /d from 1.0 to 2.4. The numerical results were analyzed from the view point of field synergy principle, which says that the reduction of the intersection angle between velocity and fluid temperature gradient is the basic mechanism to enhance convective heat transfer. It is found that the effects of the five parameters on the heat transfer performance of the finned tube banks can be well described by the field synergy principle, i.e., the enhancement or deterioration of the convective heat transfer across the finned tube banks is inherently related to the variation of the intersection angle between the velocity and the fluid temperature gradient. It is also recommended that to further enhance the convective heat transfer, the enhancement techniques, such as slotting the fin, should be adopted mainly in the rear part of the fin where the synergy between local velocity and temperature gradient become worse

  20. Using dual tasks to test immediate transfer of training between naturalistic movements: A proof-of-principle study

    Science.gov (United States)

    Schaefer, Sydney Y.; Lang, Catherine E.

    2012-01-01

    Theories of motor learning predict that training a movement reduces the amount of attention needed for its performance (i.e. more automatic). If training one movement transfers, then the amount of attention needed for performing a second movement should also be reduced, as measured under dual task conditions. The purpose of this study was to test whether dual task paradigms are feasible for detecting transfer of training between two naturalistic movements. Immediately following motor training, subjects improved performance of a second untrained movement under both single and dual task conditions. Subjects with no training did not. Improved performance in the untrained movement was likely due to transfer, and suggests that dual tasks may be feasible for detecting transfer between naturalistic actions. PMID:22934682

  1. Transmission pricing: paradigms and methodologies

    Energy Technology Data Exchange (ETDEWEB)

    Shirmohammadi, Dariush [Pacific Gas and Electric Co., San Francisco, CA (United States); Vieira Filho, Xisto; Gorenstin, Boris [Centro de Pesquisas de Energia Eletrica (CEPEL), Rio de Janeiro, RJ (Brazil); Pereira, Mario V.P. [Power System Research, Rio de Janeiro, RJ (Brazil)

    1994-12-31

    In this paper we describe the principles of several paradigms and methodologies for pricing transmission services. The paper outlines some of the main characteristics of these paradigms and methodologies such as where they may be used for best results. Due to their popularity, power flow based MW-mile and short run marginal cost pricing methodologies will be covered in some detail. We conclude the paper with examples of the application of these two pricing methodologies for pricing transmission services in Brazil. (author) 25 refs., 2 tabs.

  2. First-principles investigation of A-B intersite charge transfer and correlated electrical and magnetic properties in BiCu3Fe4O12.

    Science.gov (United States)

    Li, Hongping; Lv, Shuhui; Liu, Xiaojuan; Meng, Jian

    2011-05-01

    First-principles calculations using the augmented plane wave plus local orbitals method, as implemented in the WIEN2K code, have been carried out to study the A-B intersite charge transfer and the correlated electrical and magnetic properties of the perovskite BiCu(3)Fe(4)O(12), especially as regards the charge transfer. The results indicate that the charge transfer between A-site Cu and B-site Fe is by way of O 2p orbitals, and during this process orbital hybridization plays an important role. More importantly, the charge transfer is of 3d(9) + 4d(5)L(0.75) →3d(9)L + 4d(5) type (here L denotes an oxygen hole or a ligand hole). During this process, the magnetic interaction experiences a transition from Cu-Fe ferrimagnetic coupling to G-type antiferromagnetic coupling within B-site Fe with paramagnetic Cu(3+). As to electrical property, it undergoes a metal to insulator transition. All our calculated results are consistent with the available experimental results. Copyright © 2010 Wiley Periodicals, Inc.

  3. A Multiperiod Equilibrium Pricing Model

    Directory of Open Access Journals (Sweden)

    Minsuk Kwak

    2014-01-01

    Full Text Available We propose an equilibrium pricing model in a dynamic multiperiod stochastic framework with uncertain income. There are one tradable risky asset (stock/commodity, one nontradable underlying (temperature, and also a contingent claim (weather derivative written on the tradable risky asset and the nontradable underlying in the market. The price of the contingent claim is priced in equilibrium by optimal strategies of representative agent and market clearing condition. The risk preferences are of exponential type with a stochastic coefficient of risk aversion. Both subgame perfect strategy and naive strategy are considered and the corresponding equilibrium prices are derived. From the numerical result we examine how the equilibrium prices vary in response to changes in model parameters and highlight the importance of our equilibrium pricing principle.

  4. Constructal Optimizations for Heat and Mass Transfers Based on the Entransy Dissipation Extremum Principle, Performed at the Naval University of Engineering; a Review

    Directory of Open Access Journals (Sweden)

    Lingen Chen

    2018-01-01

    Full Text Available Combining entransy theory with constructal theory, this mini-review paper summarizes the constructal optimization work of heat conduction, convective heat transfer, and mass transfer problems during the authors’ working time in the Naval University of Engineering. The entransy dissipation extremum principle (EDEP is applied in constructal optimizations, and this paper is divided into three parts. The first part is constructal entransy dissipation rate minimizations of heat conduction and finned cooling problems. It includes constructal optimization for a “volume-to-point” heat-conduction assembly with a tapered element, constructal optimizations for “disc-to-point” heat-conduction assemblies with the premise of an optimized last-order construct and without this premise, and constructal optimizations for four kinds of fin assemblies: T-, Y-, umbrella-, and tree-shaped fins. The second part is constructal entransy dissipation rate minimizations of cooling channel and steam generator problems. It includes constructal optimizations for heat generating volumes with tree-shaped and parallel channels, constructal optimization for heat generating volume cooled by forced convection, and constructal optimization for a steam generator. The third part is constructal entransy dissipation rate minimizations of mass transfer problems. It includes constructal optimizations for “volume-to-point” rectangular assemblies with constant and tapered channels, and constructal optimizations for “disc-to-point” assemblies with the premise of an optimized last-order construct and without this premise. The results of the three parts show that the mean heat transfer temperature differences of the heat conduction assemblies are not always decreased when their internal complexity increases. The average heat transfer rate of the steam generator obtained by entransy dissipation rate maximization is increased by 58.7% compared with that obtained by heat

  5. Optimal dynamic pricing for deteriorating items with reference-price effects

    Science.gov (United States)

    Xue, Musen; Tang, Wansheng; Zhang, Jianxiong

    2016-07-01

    In this paper, a dynamic pricing problem for deteriorating items with the consumers' reference-price effect is studied. An optimal control model is established to maximise the total profit, where the demand not only depends on the current price, but also is sensitive to the historical price. The continuous-time dynamic optimal pricing strategy with reference-price effect is obtained through solving the optimal control model on the basis of Pontryagin's maximum principle. In addition, numerical simulations and sensitivity analysis are carried out. Finally, some managerial suggestions that firm may adopt to formulate its pricing policy are proposed.

  6. Which Mixed-Member Proportional Electoral Formula Fits You Best? Assessing the Proportionality Principle of Positive Vote Transfer Systems

    DEFF Research Database (Denmark)

    Bochsler, Daniel

    2014-01-01

    Mixed-member proportional systems (MMP) are a family of electoral systems which combine district-based elections with a proportional seat allocation. Positive vote transfer systems belong to this family. This article explains why they might be better than their siblings, and examines under which ...

  7. First principle study on interfacial energetic alignment and charge transfer in quantum dots functionalized via metal-organic dye

    Science.gov (United States)

    Cui, Peng

    Quantum dots (QDs) are promising materials for applications in solar energy conversion because of tunable band gap, multi-exciton generation, photon-upconversion, etc. One of the main challenges of increasing solar energy conversion is to extend the lifetime of photoexcited charge-carriers in conduction band, and one of the strategies is to functionalize QD with mediator molecules. Functionalizing QD with metal-organic dye serves as the additional channel of manipulating charge transfer - the key process increasing solar energy conversion. When metal-organic dye is attached to QD, the interfacial charge transfer direction as well as the rates are determined by a balance between the energetic alignment, QD-dye interaction as well as charge-carrier relaxation dynamics. In this dissertation, we explore the effect of dye functionalization on these elements. We change the metal ion, organic ligands as well as binding geometry of dye, size of QD, polarity of solvent, and use density functional theory to study their effects on energetic alignment. Embedding density functional calculation is used to study the dipole interaction between QD and dye providing additional controllability on charge transfer excitation. At last, we apply Tully surface hopping scheme in combining with density functional theory in time domain to study the charge-carrier relaxation dynamics and charge transfer across the heterogeneous interface in QD/dye nanocrystal composite.

  8. Oil price stability and free markets

    International Nuclear Information System (INIS)

    Yamani, A.Z.

    1992-01-01

    The oil industry, like any capital-intensive industry with long supply lead times, is prone to price instability. Free markets in oil reflect this inherent instability, for prices are efficient signallers of imbalances between supply and demand. Free markets are desirable in principle, but entirely free oil markets are unstable. Volatile oil prices are undesirable. This article advocates trading some market freedom for more price stability, since such a trade off will be beneficial to the world as a whole. (author)

  9. Elucidating the design principles of photosynthetic electron-transfer proteins by site-directed spin labeling EPR spectroscopy.

    Science.gov (United States)

    Ishara Silva, K; Jagannathan, Bharat; Golbeck, John H; Lakshmi, K V

    2016-05-01

    Site-directed spin labeling electron paramagnetic resonance (SDSL EPR) spectroscopy is a powerful tool to determine solvent accessibility, side-chain dynamics, and inter-spin distances at specific sites in biological macromolecules. This information provides important insights into the structure and dynamics of both natural and designed proteins and protein complexes. Here, we discuss the application of SDSL EPR spectroscopy in probing the charge-transfer cofactors in photosynthetic reaction centers (RC) such as photosystem I (PSI) and the bacterial reaction center (bRC). Photosynthetic RCs are large multi-subunit proteins (molecular weight≥300 kDa) that perform light-driven charge transfer reactions in photosynthesis. These reactions are carried out by cofactors that are paramagnetic in one of their oxidation states. This renders the RCs unsuitable for conventional nuclear magnetic resonance spectroscopy investigations. However, the presence of native paramagnetic centers and the ability to covalently attach site-directed spin labels in RCs makes them ideally suited for the application of SDSL EPR spectroscopy. The paramagnetic centers serve as probes of conformational changes, dynamics of subunit assembly, and the relative motion of cofactors and peptide subunits. In this review, we describe novel applications of SDSL EPR spectroscopy for elucidating the effects of local structure and dynamics on the electron-transfer cofactors of photosynthetic RCs. Because SDSL EPR Spectroscopy is uniquely suited to provide dynamic information on protein motion, it is a particularly useful method in the engineering and analysis of designed electron transfer proteins and protein networks. This article is part of a Special Issue entitled Biodesign for Bioenergetics--the design and engineering of electronic transfer cofactors, proteins and protein networks, edited by Ronald L. Koder and J.L. Ross Anderson. Copyright © 2016. Published by Elsevier B.V.

  10. Petroleum price

    International Nuclear Information System (INIS)

    Chevallier, B.

    2009-01-01

    The 'AFTP' conference on 'petroleum prices' organized by Total last March, tries to explain the different aspects of the crisis we undergo for July 2007 and its consequential effects on the petroleum markets (supply, demand evolvements, impacts on reserves, prices, refining...). (O.M.)

  11. Energies prices

    International Nuclear Information System (INIS)

    2005-08-01

    This document offers a synthesis of the tariffs and the energies prices in august 2005 in Paris, compared with the years 2003 and 2004. This sectoral presentation (transports, houses, industry) provides thus statistics on the prices of fuels, heating, propane, coal, wood fuels, electric power and gas. (A.L.B.)

  12. 16 CFR 453.2 - Price disclosures.

    Science.gov (United States)

    2010-01-01

    ...) included in that price; (E) Transfer of remains to funeral home; (F) Embalming; (G) Other preparation of... 16 Commercial Practices 1 2010-01-01 2010-01-01 false Price disclosures. 453.2 Section 453.2 Commercial Practices FEDERAL TRADE COMMISSION TRADE REGULATION RULES FUNERAL INDUSTRY PRACTICES § 453.2 Price...

  13. Gas pricing in Europe. Pt. 1. Wholesale markets

    International Nuclear Information System (INIS)

    Donath, R.

    1996-01-01

    The article investigates gas pricing in the European procurement market and the wholesale markets of the most important EU consumer markets. It demonstrates that value-oriented pricing principles override cost-oriented pricing principles. For one thing, and independently of pricing principles, two- or three-part demand price systems or basic price systems are common. For another, the frequently encountered opportunities for the differentiation of prices show that as long as there is merely substitution competition instead of direct competition, gas suppliers have a certain degree of freedom in fixing their prices. By contrast, the introduction of direct competition in Great Britain has reduced suppliers' individual price fixing margins, because short-term supply and demand variations in the now created spot market are decisive for gas pricing. (orig.) [de

  14. A structure-based model of energy transfer reveals the principles of light harvesting in photosystem II supercomplexes.

    Science.gov (United States)

    Bennett, Doran I G; Amarnath, Kapil; Fleming, Graham R

    2013-06-19

    Photosystem II (PSII) initiates photosynthesis in plants through the absorption of light and subsequent conversion of excitation energy to chemical energy via charge separation. The pigment binding proteins associated with PSII assemble in the grana membrane into PSII supercomplexes and surrounding light harvesting complex II trimers. To understand the high efficiency of light harvesting in PSII requires quantitative insight into energy transfer and charge separation in PSII supercomplexes. We have constructed the first structure-based model of energy transfer in PSII supercomplexes. This model shows that the kinetics of light harvesting cannot be simplified to a single rate limiting step. Instead, substantial contributions arise from both excitation diffusion through the antenna pigments and transfer from the antenna to the reaction center (RC), where charge separation occurs. Because of the lack of a rate-limiting step, fitting kinetic models to fluorescence lifetime data cannot be used to derive mechanistic insight on light harvesting in PSII. This model will clarify the interpretation of chlorophyll fluorescence data from PSII supercomplexes, grana membranes, and leaves.

  15. The impact of high oil prices on natural gas

    International Nuclear Information System (INIS)

    Koevoet, H.

    2003-01-01

    The principle of gas-to-oil (oil prices determine the price of natural gas) in the Netherlands and several other developments elsewhere (war in Iraq and a cold winter in the USA) has caused high natural gas prices. The question is whether the liberalization of the energy market can change this principle [nl

  16. Gas prices and price process

    International Nuclear Information System (INIS)

    Groenewegen, G.G.

    1992-01-01

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

  17. Price increase

    CERN Multimedia

    2006-01-01

    Please take note that after five years of stable prices at Restaurant No 1 a price increase will come into force on 1st January 2006. This increase has been agreed after discussions between the CSR (Comité de Surveillance des Restaurants) and the catering company Novae and will reflect the inflation rate of the last few years. In addition, a new children's menu will be introduced, as well as 'Max Havelaar' fair-trade coffee at a price of 1.70 CHF.

  18. Price increase

    CERN Multimedia

    2005-01-01

    Please take note that after five years of stable prices at Restaurant No 1 a price increase will come into force on 1st January 2006. This increase has been agreed after discussions between the CSR (Comité de Surveillance des Restaurants) and the catering company Novae and will reflect the inflation rate of the last few years. In addition, a new children's menu will be introduced as well as 'Max Havelaar' fair-trade coffee at a price of 1.70 CHF.

  19. Analysis of Cryptocurrencies Price Development

    OpenAIRE

    Jan Lansky

    2016-01-01

    Cryptocurrencies are a type of digital currencies based on cryptography principles. Cryptocurrencies are a unique combination of three characteristics: they provide anonymity, they are independent of central authority and they provide protection from double spending attack. The aim of this paper is to capture trends in the area of significant cryptocurrencies price developments and to explain their causes. The current research in this area is exclusively limited to an analysis of the price de...

  20. Freemium Pricing

    DEFF Research Database (Denmark)

    Runge, Julian; Wagner, Stefan; Claussen, Jörg

    Firms commonly run field experiments to improve their freemium pricing schemes. However, they often lack a framework for analysis that goes beyond directly measurable outcomes and focuses on longer term profit. We aim to fill this gap by structuring existing knowledge on freemium pricing...... into a stylized framework. We apply the proposed framework in the analysis of a field experiment that contrasts three variations of a freemium pricing scheme and comprises about 300,000 users of a software application. Our findings indicate that a reduction of free product features increases conversion as well...... as viral activity, but reduces usage – which is in line with the framework’s predictions. Additional back-of-the-envelope profit estimations suggest that managers were overly optimistic about positive externalities from usage and viral activity in their choice of pricing scheme, leading them to give too...

  1. Petroleum price

    International Nuclear Information System (INIS)

    Maurice, J.

    2001-01-01

    The oil market is the most volatile of all markets, with the exception of the Nasdaq. It is also the biggest commodity market in the world. Therefore one cannot avoid forecasting oil prices, nor can one expect to avoid the forecasting errors that have been made in the past. In his report, Joel Maurice draws a distinction between the short term and the medium-long term in analysing the outlook for oil prices. (author)

  2. Marketplace pricing

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

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

  3. PRICES - PREREQUISITE OF MARKET DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    VĂDUVA MARIA

    2017-08-01

    Full Text Available Prices are the key points of transfer and interactions. Balance means knowing the real demand and adapting thier supply at its level and structure. In studying the prices, the knowledge of economic content and the mechanism of their formation in exchange process is a crucial prerequisites to accomplish the transition from theoretical foundations to practical foundations of concrete modalities, of pricing techniques. If demand can assimilate the production of considered enterprises, then the manufacturer is concerned to determine that level of production for which will get maximum profit, profitability threshold, elasticity of supply compared with the price, to choose the best outlet. Price depends on the intersection of demand and supply

  4. The Pricing of natural gas

    International Nuclear Information System (INIS)

    Nese, Gjermund

    2004-11-01

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

  5. Zymography Principles.

    Science.gov (United States)

    Wilkesman, Jeff; Kurz, Liliana

    2017-01-01

    Zymography, the detection, identification, and even quantification of enzyme activity fractionated by gel electrophoresis, has received increasing attention in the last years, as revealed by the number of articles published. A number of enzymes are routinely detected by zymography, especially with clinical interest. This introductory chapter reviews the major principles behind zymography. New advances of this method are basically focused towards two-dimensional zymography and transfer zymography as will be explained in the rest of the chapters. Some general considerations when performing the experiments are outlined as well as the major troubleshooting and safety issues necessary for correct development of the electrophoresis.

  6. Capture market share, raise prices

    Directory of Open Access Journals (Sweden)

    Robbins RA

    2015-08-01

    Full Text Available No abstract available. Article truncated after 150 words. Two principles in medical economics central to the Affordable Care Act (ACA were dealt blows by recently published studies. The first principle is the belief that economies of scale will result in lower prices. The theory is that larger insurers will have lower prices because they are more administratively efficient. The second principle is that provider-owned health plans, usually hospitals, will reduce premiums. The theory is that by controlling doctors over charging health plans in a fee-for-service model will lower prices. The first study published in Technology Science found that the largest insurer in each of the states served by HealthCare.gov raised their prices in 2015 by an average of over 10 per cent compared to smaller competitors in the same market (1. Those steeper price hikes for monthly premiums did not seem warranted by the level of health claims which did not significantly differ as a percentage of premiums ...

  7. Energy prices

    International Nuclear Information System (INIS)

    2002-08-01

    This document gives in a series of tables, a synthesis of the main energy tariffs and prices in use in France and their evolution during the 2000-2002 era both in the residential and in the industry sectors: automotive fuels, domestic fuel oil, steam for district heating, propane, coal, wood, electricity, gas, heavy fuel oil. (J.S.)

  8. Energy prices

    International Nuclear Information System (INIS)

    2002-01-01

    This folder gives a synthesis of the main energy tariffs and prices ruling in France in 2000, 2001 and 2002 for automotive fuels, domestic fuel oil, district heating steam, propane, coal, wood, electricity, natural gas and heavy fuel, both for accommodations and for the industry. (J.S.)

  9. Price dynamics in European petroleum markets

    International Nuclear Information System (INIS)

    Wlazlowski, Szymon; Giulietti, Monica; Binner, Jane; Milas, Costas

    2009-01-01

    This paper analyses horizontal and vertical price dynamics in the EU petroleum markets. The results indicate that the cross-country price differentials have significant impact on the local price adjustments. We investigate the cross-national price spill-overs and find that the extent of the welfare transfer due to asymmetric price transmission, when analysed in a cross-country setting, is less pronounced than claimed in previous contributions in this area. We also find empirical evidence, although indirect, for the politically charged concept of 'fuel tourism', using a pan-European cross-product time series dataset. (author)

  10. House Price, House Quality and Economic Growth

    NARCIS (Netherlands)

    De Vries, P.; Boelhouwer, P.J.

    2010-01-01

    The literature on housing markets suggest that periods of economic growth are characterised by a demand for better housing quality and increasing prices. The basic principles of the theory are that the short-run price fluctuations occur due to market imperfection, while over the long term, causality

  11. Analysis of Cryptocurrencies Price Development

    Directory of Open Access Journals (Sweden)

    Jan Lansky

    2016-12-01

    Full Text Available Cryptocurrencies are a type of digital currencies based on cryptography principles. Cryptocurrencies are a unique combination of three characteristics: they provide anonymity, they are independent of central authority and they provide protection from double spending attack. The aim of this paper is to capture trends in the area of significant cryptocurrencies price developments and to explain their causes. The current research in this area is exclusively limited to an analysis of the price developments of the most important Bitcoin cryptocurrency; our research is the first to focus on other cryptocurrencies too. The economic perspective on cryptocurrencies is based on IT knowledge regarding the principles of their functioning. We have created a database of prices of 1278 cryptocurrencies from 2013 to 2016. This database is publicly available. To analyse the data, SQL query language was used.

  12. Infrared laser induced population transfer and parity selection in {sup 14}NH{sub 3}: A proof of principle experiment towards detecting parity violation in chiral molecules

    Energy Technology Data Exchange (ETDEWEB)

    Dietiker, P.; Miloglyadov, E.; Quack, M., E-mail: Martin@Quack.ch; Schneider, A.; Seyfang, G. [Physical Chemistry, ETH Zürich, CH-8093 Zürich (Switzerland)

    2015-12-28

    We have set up an experiment for the efficient population transfer by a sequential two photon—absorption and stimulated emission—process in a molecular beam to prepare quantum states of well defined parity and their subsequent sensitive detection. This provides a proof of principle for an experiment which would allow for parity selection and measurement of the time evolution of parity in chiral molecules, resulting in a measurement of the parity violating energy difference Δ{sub pv}E between enantiomers of chiral molecules. Here, we present first results on a simple achiral molecule demonstrating efficient population transfer (about 80% on the average for each step) and unperturbed persistence of a selected excited parity level over flight times of about 1.3 ms in the beam. In agreement with model calculations with and without including nuclear hyperfine structure, efficient population transfer can be achieved by a rather simple implementation of the rapid adiabatic passage method of Reuss and coworkers and considering also the stimulated Raman adiabatic passage technique of Bergmann and coworkers as an alternative. The preparation step uses two powerful single mode continuous wave optical parametric oscillators of high frequency stability and accuracy. The detection uses a sensitive resonantly enhanced multiphoton ionization method after free flight lengths of up to 0.8 m in the molecular beam. Using this technique, we were able to also resolve the nuclear hyperfine structure in the rovibrational levels of the ν{sub 1} and ν{sub 3} fundamentals as well as the 2ν{sub 4} overtone of {sup 14}NH{sub 3}, for which no previous data with hyperfine resolution were available. We present our new results on the quadrupole coupling constants for the ν{sub 1}, ν{sub 3}, and 2ν{sub 4} levels in the context of previously known data for ν{sub 2} and its overtone, as well as ν{sub 4}, and the ground state. Thus, now, {sup 14}N quadrupole coupling constants for all

  13. First-principles characterization of the energy landscape and optical spectra of green fluorescent protein along the A→I→B proton transfer route.

    Science.gov (United States)

    Grigorenko, Bella L; Nemukhin, Alexander V; Polyakov, Igor V; Morozov, Dmitry I; Krylov, Anna I

    2013-08-07

    Structures and optical spectra of the green fluorescent protein (GFP) forms along the proton transfer route A→I→B are characterized by first-principles calculations. We show that in the ground electronic state the structure representing the wild-type (wt) GFP with the neutral chromophore (A-form) is lowest in energy, whereas the systems with the anionic chromophore (B- and I-forms) are about 1 kcal/mol higher. In the S65T mutant, the structures with the anionic chromophore are significantly lower in energy than the systems with the neutral chromophore. The role of the nearby amino acid residues in the chromophore-containing pocket is re-examined. Calculations reveal that the structural differences between the I- and B-forms (the former has a slightly red-shifted absorption relative to the latter) are based not on the Thr203 orientation, but on the Glu222 position. In the case of wt-GFP, the hydrogen bond between the chromophore and the His148 residue stabilizes the structures with the deprotonated phenolic ring in the I- and B-forms. In the S65T mutant, concerted contributions from the His148 and Thr203 residues are responsible for a considerable energy gap between the lowest energy structure of the B type with the anionic chromophore from other structures.

  14. TRANSFER PRICING–A PRESENT-DAY ISSUE

    Directory of Open Access Journals (Sweden)

    Elena CHIȚIMUȘ

    2013-06-01

    Full Text Available Within the fiscal inspection procedures and financial control undertaken by the Romanian fiscal authorities, a special place and an everyday more increasing share is occupied by the transactions between Romanian companies with affiliated entities. The principle that should stay at the foundation of these transactions is that every agreement of purchase or sale between affiliates should be made at the market price. This paper aims to present methodological aspects regarding transfer pricing and to underline the evolution and the expectations related to this subject in Romania.

  15. Cosmological principles. II. Physical principles

    International Nuclear Information System (INIS)

    Harrison, E.R.

    1974-01-01

    The discussion of cosmological principle covers the uniformity principle of the laws of physics, the gravitation and cognizability principles, and the Dirac creation, chaos, and bootstrap principles. (U.S.)

  16. Hedonic price theory; Concept and applications

    Energy Technology Data Exchange (ETDEWEB)

    Metz, W.C. [Argonne National Lab., IL (United States); Lowry, J. [USDOE Office of Civilian Radioactive Waste Management, Washington, DC (United States); Morey, M. [Dept. of Economics, Illinois State Univ, Normal, IL (United States)

    1990-10-01

    This paper discusses direct and indirect techniques being used to estimate economic consequences of proximity to existing or proposed public facilities. The hedonic price theory, an indirect technique is described. The use of the hedonic price theory and the issue of transferability to radioactive waste facilities are addressed.

  17. Energy prices, equalization and federalism

    International Nuclear Information System (INIS)

    Courchene, T.J.

    2005-01-01

    A rise in oil prices over the last 30 years has shaped the debate on the equalization formula as well as the nature of fiscal federalism. The oil shocks of 1973 and 1979 contributed to the creation of the National Energy Program (NEP) in 1980 and the Energy Pricing and Taxation Agreement (EPTA) between Ottawa and Alberta in 1981. The current surge in oil prices, to recent highs of $70 a barrel has resulted in a new debate on energy pricing, equalization and fiscal frameworks. This article presented a review of the history of oil and federalism, and proposed a remedy to the horizontal fiscal imbalance by allocating the fixed equalization pool in accordance with fiscal capacity disparities relating to non-resource revenues. An interprovincial revenue-sharing pool was suggested for resource revenues, agreed to and operated by the provinces. It was suggested that after the price spike in 1973 in which the price of oil tripled, a key part of the rationale for imposing export taxes on oil equal to the difference between domestic and world prices was that the federal government could subsidize oil imports into eastern Canada and maintain a uniform domestic price across the country. By continuing to subsidize imports and maintaining a domestic price below the world price, the government has been diverting potential energy revenues from energy-rich provinces and transferring them directly to Canadians in terms of subsidized energy prices. It was noted that energy price surges cannot send equalization payments soaring as they did before because of the 2004 Framework Agreement, in which the overall equalization will be increased to $10.9 billion. A 2-tier approach to equalization was presented, in which it was suggested that the $10.9 billion pool should be allocated with fiscal capacity disparities relating to non-resource revenues. The creation of a revenue sharing pool for resource revenues was recommended. It was suggested that the 2 approaches will result in a strategic

  18. Energy prices and taxes

    International Nuclear Information System (INIS)

    2004-01-01

    Energy Prices and Taxes contains a major international compilation of energy prices at all market levels: import prices, industry prices and consumer prices. The statistics cover main petroleum products, gas, coal and electricity, giving for imported products an average price both for importing country and country of origin. Every issue includes full notes on sources and methods and a description of price mechanisms in each country

  19. 17 CFR 229.1204 - (Item 1204) Oil and gas production, production prices and production costs.

    Science.gov (United States)

    2010-04-01

    ... price (including transfers) per unit of oil, gas and other products produced; and (2) The average... conversion to synthetic oil or gas, the product's production, transfer prices, and production costs should be disclosed separately from all other products. Instruction 4 to Item 1204: The transfer price of oil and gas...

  20. Hedonic price theory: Concept and applications

    International Nuclear Information System (INIS)

    Metz, W.C.; Lowry, J.; Morey, M.

    1990-01-01

    Direct and indirect techniques are being used to estimate economic consequences of proximity to existing or proposed public facilities. The hedonic price theory, an indirect technique, is the most logically suited, especially for capturing the shadow or implicit price of a characteristic such as proximity in the real estate market. While the theory is increasingly being used, there is also a growing tendency to draw inferences from the study of one or more hazards and situations and transfer the conclusions to a very different hazard and situation. The use of the hedonic price theory and the issue of transferability to radioactive waste facilities are addressed in this paper. 12 refs

  1. Hedonic price theory: Concept and applications

    Energy Technology Data Exchange (ETDEWEB)

    Metz, W.C. (Argonne National Lab., IL (USA)); Lowry, J. (USDOE Office of Civilian Radioactive Waste Management, Washington, DC (USA)); Morey, M. (Illinois State Univ., Normal, IL (USA). Dept. of Economics)

    1990-01-01

    Direct and indirect techniques are being used to estimate economic consequences of proximity to existing or proposed public facilities. The hedonic price theory, an indirect technique, is the most logically suited, especially for capturing the shadow or implicit price of a characteristic such as proximity in the real estate market. While the theory is increasingly being used, there is also a growing tendency to draw inferences from the study of one or more hazards and situations and transfer the conclusions to a very different hazard and situation. The use of the hedonic price theory and the issue of transferability to radioactive waste facilities are addressed in this paper. 12 refs.

  2. Preço de transferência e seus impactos contábeis e fiscais dentro de uma empresa de filtros automobilísticos na importação e exportação de mercadorias = Transfer price and its accounting and tax impacts within a automotive filters company in imports and exports of goods

    Directory of Open Access Journals (Sweden)

    Josiane Gattis Correa Giacomelli

    2017-12-01

    Full Text Available A legislação brasileira exige lançamentos contábeis específicos, quando o assunto é Preço de Transferência. Essas regras existentes foram criadas para evitar que as empresas brasileiras com subsidiárias no exterior possam utilizar a estratégia de evasão de divisas, já que sem ordenamento jurídico adequado os preços poderiam ser subavaliados para que não houvesse o devido pagamento dos tributos, na transferência de produtos ao exterior. O objetivo deste estudo consiste em verificar os impactos contábeis e fiscais no uso do preço de transferência na importação e exportação de mercadorias, para uma empresa do ramo automobilístico. Para tanto, utilizou-se a pesquisa aplicada, por meio da coleta de dados documentais e entrevista não estruturada. Considerando as penalidades legais quando a legislação não é aplicada corretamente, apresentou-se o seguinte problema de pesquisa: Quais os impactos contábeis e fiscais, quando aplicados as formas de cálculo adequadas ao preço de transferência? Os resultados obtidos para o cálculo da importação para o produto P603 mostraram que o método PRL Revenda, por obter o menor ajuste comparado ao método PIC no ano de 2014, foi o mais adequado a ser utilizado no cálculo do preço de transferência. No momento da exportação o método CAP foi o mais adequado contábil e fiscalmente, para os produtos F175F13 e R161F042, por ser o único método possível para calcular o preço de transferência para a empresa estudada. Como conclusão da pesquisa, verificou-se que a utilização dos métodos recomendados pela legislação fiscal vigente no Brasil poderiam contribuir para a qualidade da informação contábil e, ao mesmo tempo, resultariam num aumento da base de cálculo dos tributos incidentes sobre a receita. Brazilian law require specific accounting entries, when the subject is Transfer Price. These existing rules were created to prevent Brazilian companies with foreign

  3. Price adjustment clauses : report.

    Science.gov (United States)

    2012-10-01

    Price adjustment mechanisms exist to account for fluctuations in commodity or labor prices and have : been used for highway construction in 47 states. They are useful in stabilizing bid prices in times of : economic uncertainty and preventing default...

  4. Proceedings of the Fourth Forum: Energy Day of Croatia, Prices and Tariff Policy in Energy Supply

    International Nuclear Information System (INIS)

    1995-01-01

    The principle topic of the four Forums ''Croatian Energy Day'' was ''prices and tariff policy in energy supply''. 23 papers were presented, which were subdivided into four groups: 16th World Energy Council Congress, planning and prices in energetics, oil and natural gas prices and tariffs, and electric energy prices and tariffs

  5. Food Price Spikes, Price Insulation, and Poverty

    OpenAIRE

    Anderson, Kym; Ivanic, Maros; Martin, Will

    2013-01-01

    This paper has two purposes. It first considers the impact on world food prices of the changes in restrictions on trade in staple foods during the 2008 world food price crisis. Those changes -- reductions in import protection or increases in export restraints -- were meant to partially insulate domestic markets from the spike in international prices. The authors find that this insulation a...

  6. Pricing and Trust

    DEFF Research Database (Denmark)

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

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

  7. Electrical and electronic principles

    CERN Document Server

    Knight, SA

    1988-01-01

    Electrical and Electronic Principles, 3 focuses on the principles involved in electrical and electronic circuits, including impedance, inductance, capacitance, and resistance.The book first deals with circuit elements and theorems, D.C. transients, and the series circuits of alternating current. Discussions focus on inductance and resistance in series, resistance and capacitance in series, power factor, impedance, circuit magnification, equation of charge, discharge of a capacitor, transfer of power, and decibels and attenuation. The manuscript then examines the parallel circuits of alternatin

  8. Competitive Pricing by a Price Leader

    OpenAIRE

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

    1994-01-01

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

  9. Basic Concepts and Principles of Marketing.

    Science.gov (United States)

    Beder, Hal

    1986-01-01

    Presents an overview of marketing concepts and principles. These include (1) organizational objectives, (2) exchange, (3) value, (4) market segmentation, (5) market position, (6) consumer analysis, (7) product, (8) promotion, (9) place, and (10) price. (CH)

  10. Composition of traders in live cattle futures contracts : behavior and implications to price discovery

    OpenAIRE

    Rowsell, John

    1991-01-01

    The concepts of risk transfer and price discovery are well developed roles for futures markets. The interaction between traders in futures markets in the transferring and acceptance of price risk contributes to the discovery of price. Interaction of traders in the risk transfer and price discovery processes is examined in this dissertation. Data employed were for live cattle futures at the Chicago Mercantile Exchange developed from the confidential daily records of reporting trader positions ...

  11. Heterogeneity and option pricing

    NARCIS (Netherlands)

    Benninga, Simon; Mayshar, Joram

    2000-01-01

    An economy with agents having constant yet heterogeneous degrees of relative risk aversion prices assets as though there were a single decreasing relative risk aversion pricing representative agent. The pricing kernel has fat tails and option prices do not conform to the Black-Scholes formula.

  12. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

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

    On April 1, 2005, Denmark changed the way references prices, a main determinant of reimbursements for pharmaceutical purchases, are calculated. The previous reference prices, which were based on average EU prices, were substituted to minimum domestic prices. Novel to the literature, we estimate t...

  13. Value-based pricing

    OpenAIRE

    Netseva-Porcheva Tatyana

    2010-01-01

    The main aim of the paper is to present the value-based pricing. Therefore, the comparison between two approaches of pricing is made - cost-based pricing and value-based pricing. The 'Price sensitively meter' is presented. The other topic of the paper is the perceived value - meaning of the perceived value, the components of perceived value, the determination of perceived value and the increasing of perceived value. In addition, the best company strategies in matrix 'value-cost' are outlined. .

  14. Pricing geometric Asian rainbow options under fractional Brownian motion

    Science.gov (United States)

    Wang, Lu; Zhang, Rong; Yang, Lin; Su, Yang; Ma, Feng

    2018-03-01

    In this paper, we explore the pricing of the assets of Asian rainbow options under the condition that the assets have self-similar and long-range dependence characteristics. Based on the principle of no arbitrage, stochastic differential equation, and partial differential equation, we obtain the pricing formula for two-asset rainbow options under fractional Brownian motion. Next, our Monte Carlo simulation experiments show that the derived pricing formula is accurate and effective. Finally, our sensitivity analysis of the influence of important parameters, such as the risk-free rate, Hurst exponent, and correlation coefficient, on the prices of Asian rainbow options further illustrate the rationality of our pricing model.

  15. [Development of Patient Transfer Techniques based on Postural-stability Principles for the Care Helpers in Nursing Homes and Evaluation of Effectiveness].

    Science.gov (United States)

    Ma, Ryewon; Jung, Dukyoo

    2016-02-01

    This study was done to develop a postural-stability patient transfer technique for care helpers in nursing homes and to evaluate its effectiveness. Four types of patient transfer techniques (Lifting towards the head board of the bed, turning to the lateral position, sitting upright on the bed, transferring from wheel chair to bed) were practiced in accordance with the following three methods; Care helpers habitually used transfer methods (Method 1), patient transfer methods according to care helper standard textbooks (Method 2), and a method developed by the author ensuring postural-stability (Method 3). The care helpers' muscle activity and four joint angles were measured. The collected data were analyzed using the program SPSS Statistic 21.0. To differentiate the muscle activity and joint angle, the Friedman test was executed and the post-hoc analysis was conducted using the Wilcoxon Signed Rank test. Muscle activity was significantly lower during Method 3 compared to Methods 1 and 2. In addition, the joint angle was significantly lower for the knee and shoulder joint angle while performing Method 3 compared to Methods 1 and 2. Findings indicate that using postural-stability patient transfer techniques can contribute to the prevention of musculoskeletal disease which care helpers suffer from due to physically demanding patient care in nursing homes.

  16. Making benefit transfers work

    DEFF Research Database (Denmark)

    Bateman, I.J.; Brouwer, R.; Ferrini, S.

    We develop and test guidance principles for benefits transfers. These argue that when transferring across relatively similar sites, simple mean value transfers are to be preferred but that when sites are relatively dissimilar then value function transfers will yield lower errors. The paper also p...

  17. Higher Education Prices and Price Indexes. 1978 Supplement.

    Science.gov (United States)

    Halstead, D. Kent; Hickson, Lenel

    The 1978 supplement to the basic study, Higher Education Prices and Price Indexes, presents higher education price index data for fiscal years 1971 through 1978. A price index series measures the effects of price change, and price change only, on a fixed group of items. The indexes reported here measure price changes from 1967, the reference date.…

  18. Exporter Price Premia?

    DEFF Research Database (Denmark)

    Jäkel, Ina Charlotte; Sørensen, Allan

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

  19. Suppression of material transfer at contacting surfaces: the effect of adsorbates on Al/TiN and Cu/diamond interfaces from first-principles calculations

    Science.gov (United States)

    Feldbauer, Gregor; Wolloch, Michael; Bedolla, Pedro O.; Redinger, Josef; Vernes, András; Mohn, Peter

    2018-03-01

    The effect of monolayers of oxygen (O) and hydrogen (H) on the possibility of material transfer at aluminium/titanium nitride (Al/TiN) and copper/diamond (Cu/Cdia) interfaces, respectively, were investigated within the framework of density functional theory (DFT). To this end the approach, contact, and subsequent separation of two atomically flat surfaces consisting of the aforementioned pairs of materials were simulated. These calculations were performed for the clean as well as oxygenated and hydrogenated Al and Cdia surfaces, respectively. Various contact configurations were considered by studying several lateral arrangements of the involved surfaces at the interface. Material transfer is typically possible at interfaces between the investigated clean surfaces; however, the addition of O to the Al and H to the Cdia surfaces was found to hinder material transfer. This passivation occurs because of a significant reduction of the adhesion energy at the examined interfaces, which can be explained by the distinct bonding situations.

  20. 26 CFR 1.597-5 - Taxable Transfers.

    Science.gov (United States)

    2010-04-01

    ... its adjusted issue price immediately before the Taxable Transfer. The fair market value of an asset... § 1.1060-1T(c)(1). The purchase price for assets acquired in a Taxable Transfer described in paragraph... with a Taxable Transfer is not included in the New Entity's or Acquiring's purchase price for the...

  1. 77 FR 50243 - Electronic Fund Transfers (Regulation E)

    Science.gov (United States)

    2012-08-20

    ..., senders should be informed they would not receive actual notice of the price of the transfer or of the... threshold might exclude from the rule's coverage both a person who makes few transfers, but at a high price, and a person who offers many more transfers for free or at a very low price, as a value-added service...

  2. China : Development of National Heat Pricing and Billing Policy

    OpenAIRE

    Meyer, Anke Sofia; Kalkum, Bernd

    2008-01-01

    Market-based reforms in China's urban centralized heating sector are essential to addressing the perpetual inefficiency of a sector built on welfare based principles. The reform of heat pricing and billing is a crucial part of overall heat reform, since it will commodity heat and thus create economic incentives to provide and use heat much more efficiently. Heat pricing and billing reform ...

  3. Cowling–Price Theorem and Characterization of Heat Kernel on ...

    Indian Academy of Sciences (India)

    We extend the uncertainty principle, the Cowling–Price theorem, on non-compact Riemannian symmetric spaces . We establish a characterization of the heat kernel of the Laplace–Beltrami operator on from integral estimates of the Cowling–Price type.

  4. When Are Transport Pricing Policies Fair and Acceptable?

    NARCIS (Netherlands)

    Schuitema, Geertje; Steg, Linda; van Kruining, Monique

    This study examines the relative importance of six policy outcomes related to different fairness principles for the perceived fairness and acceptability of pricing policies aimed at changing transport behaviour. The fairness and acceptability of six different types of transport pricing policies were

  5. Natural gas tariffing principles for non-eligible consumers

    International Nuclear Information System (INIS)

    2005-01-01

    This document explains the main principles and control means of natural gas tariffing in France for non-eligible consumers: marginal cost tariffing and equal terms between consumers, prices control regime and public utility contract between the Government and Gaz de France company for the smoothing of the strong volatility of petroleum products price, successive increase of prices due to import tariffs. The evolution of prices between 1998 and today are summarized in tables and graphs. (J.S.)

  6. Drug Pricing Reforms

    DEFF Research Database (Denmark)

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

    2015-01-01

    Reference price systems for prescription drugs have found widespread use as cost containment tools. Under such regulatory regimes, patients co-pay a fraction of the difference between pharmacy retail price of the drug and a reference price. Reference prices are either externally (based on drug...... prices in other countries) or internally (based on domestic drug prices) determined. In a recent study, we analysed the effects of a change from external to internal reference pricing in Denmark in 2005, finding that the reform led to substantial reductions in prices, producer revenues, and expenditures...... for patients and the health insurance system. We also estimated an increase in consumer welfare but the size effect depends on whether or not perceived quality differences between branded and other drugs are taken into account....

  7. Natural gas pricing

    International Nuclear Information System (INIS)

    Freedenthal, C.

    1993-01-01

    Natural gas pricing is the heart and soul of the gas business. Price specifically affects every phase of the industry. Too low a price will result in short supplies as seen in the mid-1970s when natural gas was scarce and in tight supply. To fully understand the pricing of this energy commodity, it is important to understand the total energy picture. In addition, the effect and impact of world and US economies, and economics in general are crucial to understanding natural gas pricing. The purpose of this presentation will be to show the parameters going into US natural gas pricing including the influence of the many outside industry factors like crude oil and coal pricing, market drivers pushing the gas industry, supply/demand parameters, risk management for buyers and sellers, and other elements involved in pricing analysis

  8. PRICES IN COMPETITIVE SYSTEM

    Directory of Open Access Journals (Sweden)

    VADUVA MARIA

    2017-08-01

    Full Text Available Regularities of competitive market determine rules for determining prices and their dynamics. Orientation prices to competition (competitive pricing is the strategy most frequently used in countries with market economies and especially for exports. Moreover, in an economy dominated by market competition it cannot be ignored without certain risks the prices resulting from competition between products bidders. Companies that use this type of strategy seek to maintain a level of prices linked to that charged by other competitors (or exporting producers generally no longer covering production costs or demand, relying on the assumption that the average market price is a reasonable basis of costs. But the way how practical guidance and reporting to the competition in every price strategy, will be determined by the company's market position, by the available power and enjoyed prestige, objectives and prospects of its market share etc. according to these elements, there may be several versions of pricing strategies oriented to competitors.

  9. Airline Price Discrimination

    OpenAIRE

    Stacey, Brian

    2015-01-01

    Price discrimination enjoys a long history in the airline industry. Borenstein (1989) discusses price discrimination through frequent flyer programs from 1985 as related to the Piedmont-US Air merger, price discrimination strategies have grown in size and scope since then. From Saturday stay over requirements to varying costs based on time of purchase, the airline industry is uniquely situated to enjoy the fruits of price discrimination.

  10. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

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

    2014-01-01

    Reference prices constitute a main determinant of patient health care reimbursement in many countries. We study the effects of a change from an "external" (based on a basket of prices in other countries) to an "internal" (based on comparable domestic products) reference price system. We find...

  11. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

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

    Reference prices constitute a main determinant of patient health care reimbursement in many countries. We study the effects of a change from an "external" (based on a basket of prices in other countries) to an "internal" (based on comparable domestic products) reference price system. We find...

  12. Price control and macromarketing

    Directory of Open Access Journals (Sweden)

    Kancir Rade

    2003-01-01

    Full Text Available Price control at macro level is part of integral macro marketing strategic control system, or more precisely, part of social marketing mix control. Price impact is direct, if it is regarded in the context of needs satisfaction, and indirect, within the context of resource allocation. These two patterns of price impact define control mechanism structuring. Price control in sense of its direct impact at process of need satisfaction should comprise qualitative and quantitative level of needs satisfaction at a given price level and its structure, informational dimension of price and different disputable forms of corporate pricing policies. Control of price allocation function is based at objectives of macro marketing system management in the area of resource allocation and the role of price as allocator in contemporary market economies. Control process is founded, on one hand, at theoretical models of correlation between price and demand in different market structures, and on the other hand, at complex limits that price as allocator has, and which make whole control process even more complex because of reduction of the degree of determinism in functioning of contemporary economic systems. Control of price allocation function must be continuous and dynamic process if it is to provide for convergence with environmental changes and if it is to provide for placing control systems at micro marketing levels in the function of socially valid objectives.

  13. OPTIMIZING HOTEL DYNAMIC PRICES

    Directory of Open Access Journals (Sweden)

    A. M. Bandalouski

    2016-01-01

    Full Text Available An approach to solvе a problem of determining optimal dynamic prices for hotel rooms is suggested. It includes selection of input parameters for the succeeding mathematical analysis, disaggregation of the demand into several categories, demand forecasting, simulation of demand- price relations, and a mathematical programming model for price optimization.

  14. Stem cell bioprocessing: fundamentals and principles.

    Science.gov (United States)

    Placzek, Mark R; Chung, I-Ming; Macedo, Hugo M; Ismail, Siti; Mortera Blanco, Teresa; Lim, Mayasari; Cha, Jae Min; Fauzi, Iliana; Kang, Yunyi; Yeo, David C L; Ma, Chi Yip Joan; Polak, Julia M; Panoskaltsis, Nicki; Mantalaris, Athanasios

    2009-03-06

    In recent years, the potential of stem cell research for tissue engineering-based therapies and regenerative medicine clinical applications has become well established. In 2006, Chung pioneered the first entire organ transplant using adult stem cells and a scaffold for clinical evaluation. With this a new milestone was achieved, with seven patients with myelomeningocele receiving stem cell-derived bladder transplants resulting in substantial improvements in their quality of life. While a bladder is a relatively simple organ, the breakthrough highlights the incredible benefits that can be gained from the cross-disciplinary nature of tissue engineering and regenerative medicine (TERM) that encompasses stem cell research and stem cell bioprocessing. Unquestionably, the development of bioprocess technologies for the transfer of the current laboratory-based practice of stem cell tissue culture to the clinic as therapeutics necessitates the application of engineering principles and practices to achieve control, reproducibility, automation, validation and safety of the process and the product. The successful translation will require contributions from fundamental research (from developmental biology to the 'omics' technologies and advances in immunology) and from existing industrial practice (biologics), especially on automation, quality assurance and regulation. The timely development, integration and execution of various components will be critical-failures of the past (such as in the commercialization of skin equivalents) on marketing, pricing, production and advertising should not be repeated. This review aims to address the principles required for successful stem cell bioprocessing so that they can be applied deftly to clinical applications.

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

    OpenAIRE

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

    2004-01-01

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

  16. Principles Involving Marketing Policies: An Empirical Assessment

    OpenAIRE

    JS Armstrong; Randall L. Schultz

    2005-01-01

    We examined nine marketing textbooks, published since 1927, to see if they contained useful marketing principles. Four doctoral students found 566 normative statements about pricing, product, place, or promotion in these texts. None of these stateinents were supported by empirical evidence. Four raters agreed on only twenty of these 566 statements as providing meaningful principles. Twenty marketing professors rated whether the twenty meaningful principles were correct, supported by empirical...

  17. Internet resource pricing models

    CERN Document Server

    Xu, Ke; He, Huan

    2013-01-01

    This brief guides the reader through three basic Internet resource pricing models using an Internet cost analysis. Addressing the evolution of service types, it presents several corresponding mechanisms which can ensure pricing implementation and resource allocation. The authors discuss utility optimization of network pricing methods in economics and underline two classes of pricing methods including system optimization and entities' strategic optimization. The brief closes with two examples of the newly proposed pricing strategy helping to solve the profit distribution problem brought by P2P

  18. Value-based pricing

    Directory of Open Access Journals (Sweden)

    Netseva-Porcheva Tatyana

    2010-01-01

    Full Text Available The main aim of the paper is to present the value-based pricing. Therefore, the comparison between two approaches of pricing is made - cost-based pricing and value-based pricing. The 'Price sensitively meter' is presented. The other topic of the paper is the perceived value - meaning of the perceived value, the components of perceived value, the determination of perceived value and the increasing of perceived value. In addition, the best company strategies in matrix 'value-cost' are outlined. .

  19. Poverty and price transmission

    DEFF Research Database (Denmark)

    Elleby, Christian

    A key parameter determining the welfare impact from a world market shock is the transmission elasticity which measures the average domestic response to an international price change. Many studies have estimated price transmission elasticities for a large number of countries but the variation...... in these estimates is so far largely unexplored. This paper proposes a model which explains a country's domestic price response to world market shocks in terms of its demand structure. The model delivers two testable predictions; price transmission is increasing in per capita food expenditure and in income...... inequality. The empirical analysis of price changes during the food crises confirms these predictions with a caveat. I find significant inverse U-shaped relationships between domestic food price growth in 2007-8 and 2010-11 and per capita food expenditure. Unequal countries also experienced higher price...

  20. Customer Markets and Price Sensitivity.

    OpenAIRE

    Nishimura, Kiyohiko G

    1989-01-01

    This paper investigates the behavior of prices in customer markets of the Phelps-Winter type under uncertainty. It is shown that the responsiveness of prices to short-run demand and cost changes depends crucially on whether the marginal customer is price risk averse or price risk loving. If he is price risk averse (loving), then the customer market price is less (more) flexible than the monopoly price. Competition makes the customer market price more rigid (flexible) if the marginal customer ...

  1. The economic cost of fuel price subsidies in Ghana

    Science.gov (United States)

    Ofori, Roland Oduro

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

  2. Equilibrium and matching under price controls

    NARCIS (Netherlands)

    Herings, P.J.J.

    2015-01-01

    The paper considers a one-to-one matching with contracts model in the presence of price controls. This set-up contains two important streams in the matching literature, those with and those without monetary transfers, as special cases and allows for intermediate cases with some restrictions on the

  3. THE PRINCIPLE OF NON-RETROACTIVITY OF CIVIL LAW - DEVIATIONS IDENTIFIED IN THE MATTER OF TAX LEGISLATION

    Directory of Open Access Journals (Sweden)

    Cristina-Simona Căpăţînă (Dumitrache

    2016-11-01

    Full Text Available This article aims to examine the effects of the principle of non-retroactivity of law. While the first section deals with the principle of non-retroactivity of the law in terms of Romanian civil law, the next section presents cases of compliance, but also several cases of violation/breach of the principle enunciated, identified in the tax matter. By researching the date when legal acts or deeds are concluded or, as the case may be, committed or produced, in relation to the effects of the new law over them, we are submitting to a non-retroactivity test some texts from tax laws governing the obligation of the taxpayers to pay tax on profit when no longer meet the conditions to be micro -enterprises, obligation of the individuals without revenue to pay social health insurance contributions, the obligations of the persons carrying out transactions with related parties to draw up transfer pricing file. The effect of the facta pendentia situation is presented and analyzed on a specific case of transfer pricing, which may be misinterpreted as a breach of the principle of non-retroactivity of the law. Precisely for this reason the conclusions present utility both for law theorists and practitioners.

  4. Target Price Accuracy

    Directory of Open Access Journals (Sweden)

    Alexander G. Kerl

    2011-04-01

    Full Text Available This study analyzes the accuracy of forecasted target prices within analysts’ reports. We compute a measure for target price forecast accuracy that evaluates the ability of analysts to exactly forecast the ex-ante (unknown 12-month stock price. Furthermore, we determine factors that explain this accuracy. Target price accuracy is negatively related to analyst-specific optimism and stock-specific risk (measured by volatility and price-to-book ratio. However, target price accuracy is positively related to the level of detail of each report, company size and the reputation of the investment bank. The potential conflicts of interests between an analyst and a covered company do not bias forecast accuracy.

  5. Pricing of new vaccines

    OpenAIRE

    Lee, Bruce Y; McGlone, Sarah M

    2010-01-01

    New vaccine pricing is a complicated process that could have substantial long-standing scientific, medical and public health ramifications. Pricing can have a considerable impact on new vaccine adoption and, thereby, either culminate or thwart years of research and development and public health efforts. Typically, pricing strategy consists of the following eleven components: (1) Conduct a target population analysis; (2) Map potential competitors and alternatives; (3) Construct a vaccine targe...

  6. The evolution of electricity prices in an uncertain world. Contracting and managing the price risk

    International Nuclear Information System (INIS)

    Vassilopoulos, Ph.; Rapin, D.

    2004-01-01

    With the liberalization of the electricity market, the large industrial consumers saw their electric bill changing nature. Before, this price reflected a long term negotiation with the monopoly, now it is established in a free way via wholesale markets. This evolution marks a transfer of the management of price risk from the producer towards the consumer. This change is not in itself a problem if the hedging instruments are adapted. We note a contamination of the price of the derivative products by the spot while at the same time the traditional relation between cash and term is not always valid for electricity because of its non storability. When well even the price of the derivative products would be formed in an autonomous way, it poses a second problem: that of their indexing on price references like Platt's whose result is assimilated more to a survey of large producers than a true confrontation of supply and demand. This article proposes to examine this change of nature and behaviour of electricity prices. After having explained the intrinsically volatile characteristic of spot prices, we will recall that the products in the long term are not always optimal solutions to decrease this price risk. Lastly, we will highlight a solution of skirting at the risks mentioned above: contracting between producers and consumers. (authors)

  7. Alternative pricing methodologies

    International Nuclear Information System (INIS)

    Anon.

    1991-01-01

    With the increased interest in competitive market forces and growing recognition of the deficiencies in current practices, FERC and others are exploring alternatives to embedded cost pricing. A number of these alternatives are discussed in this chapter. Marketplace pricing, discussed briefly here, is the subject of the next chapter. Obviously, the pricing formula may combine several of these methodologies. One utility of which the authors are aware is seeking a price equal to the sum of embedded costs, opportunity costs, line losses, value of service, FERC's percentage adder formula and a contract service charge

  8. Modeling Asset Price Dynamics

    Directory of Open Access Journals (Sweden)

    Ranasinghe P. K. C. Malmini

    2008-09-01

    Full Text Available We model the price prediction in Sri Lankan stock market using Ising model and some recent developments in statistical physics techniques. In contrast to usual agent-models, the influence does not flow inward from the surrounding neighbors to the centre, but spreads outward from the center to the neighbors. Monte Carlo simulations were used to study this problem. The analysis was based on All share price index, Milanka price index in Colombo Stock Exchange and Simulated Price Process. The monthly and daily influences of the above indices to the Sri Lankan economy were also investigated. The model thus describes the spread of opinions traders.

  9. Determinants of contractor pricing strategy

    OpenAIRE

    Moses, O. Douglas

    1988-01-01

    This paper investigates pricing strategies used by major defense contractors. Two pricing strategies are identified and discussed: penetration, which calls for a relatively low initial price followed by little reduction in price over time, and skimming, which calls for a relatively high initial price coupled with greater reduction in price over time. It is argued that contractor pricing strategy will depend on features of the defense program under consideration and featur...

  10. Relating price strategies and price-setting practices

    NARCIS (Netherlands)

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

    2013-01-01

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

  11. Intranational Price Convergence and Price Stickiness

    DEFF Research Database (Denmark)

    Bergman, Ulf Michael; Heebøll, Christian; Hansen, Niels Lynggaard

    2017-01-01

    We show that estimates of the half-life of deviations from LOOP are biased when not taking into account the precision when aggregating over types of goods. Using a comprehensive dataset with monthly price data for 124 homogeneous products across regions in Denmark over the period 1997–2010 we find...... a large positive aggregation bias. On average, we find that the half-life is 8.4 months when taking the bias into account compared to 28.7 months when applying the standard method. The heterogeneity in estimated half-life can be explained by price stickiness, distance between regions and whether the good...

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

    DEFF Research Database (Denmark)

    Nørgård, Per Bromand; Isleifsson, Fridrik Rafn

    2013-01-01

    the grid voltage. The algorithms generating the local prices are dynamically adjusted according to the actual realised responses to the dynamic prices. Results are presented from an adapted version of the control principle implemented and tested in DTUs experimental research power system, SYSLAB, including...... electricity prices for indirect control of active power. The local, dynamic electricity prices are realised as dynamic adjustments of the quasi-stationary global power price. The aims of the dynamic price adjustments are to prevent overloading of the grid, to reduce the grid power losses and to regulate...

  13. Variational principles

    CERN Document Server

    Moiseiwitsch, B L

    2004-01-01

    This graduate-level text's primary objective is to demonstrate the expression of the equations of the various branches of mathematical physics in the succinct and elegant form of variational principles (and thereby illuminate their interrelationship). Its related intentions are to show how variational principles may be employed to determine the discrete eigenvalues for stationary state problems and to illustrate how to find the values of quantities (such as the phase shifts) that arise in the theory of scattering. Chapter-by-chapter treatment consists of analytical dynamics; optics, wave mecha

  14. Prices and tariffs in a liberalized electricity market

    International Nuclear Information System (INIS)

    Rijkers, F.; Wals, A.; Battjes, C.; Scheepers, M.

    2000-01-01

    First, it is described how prices and tariffs were determined before the introduction of the liberalization. Next, a brief overview is given of the transfer to the liberalized market and how the situation is on this market at present. Special attention is paid to the pricing of electricity in a free market, which is determined by competition between electricity producers in the Netherlands and abroad. Finally, a comparison is made between the expected prices and tariffs in a liberalized market and the prices before the liberalization

  15. Price learning during grocery shopping

    DEFF Research Database (Denmark)

    Jensen, Birger Boutrup

    Many attempts have been made to measure consumers' price knowledge for groceries. However, the results have varied considerably and conflict with results of reference price research. This is the first study to examine price knowledge before, during, and after store visit, thus enabling a study...... of what consumers learn about prices during grocery shopping. Three measures of price knowledge corresponding to different levels of price information processing were applied. Results indicate that price learning does take place and that episodic price knowledge after store exit is far more widespread...... than expected. Consequently, a new view of how consumer price knowledge evolves during grocery shopping is presented....

  16. Petroleum: Price trends

    International Nuclear Information System (INIS)

    Babusiaux, Denis; Pierru, Axel

    2010-01-01

    The Organization of Petroleum-Exporting Countries (OPEC), some political leaders and financiers have mainly attributed the price spike of oil in 2008 - followed by a just as spectacular drop in prices - to the speculative moves made by financial investors on the futures market instead of to market fundamentals

  17. Assessing Asset Pricing Anomalies

    NARCIS (Netherlands)

    W.A. de Groot (Wilma)

    2017-01-01

    markdownabstractOne of the most important challenges in the field of asset pricing is to understand anomalies: empirical patterns in asset returns that cannot be explained by standard asset pricing models. Currently, there is no consensus in the academic literature on the underlying causes of

  18. Price Discrimination in Academic Journals.

    Science.gov (United States)

    Joyce, Patrick; Merz, Thomas E.

    1985-01-01

    Analysis of price discrimination (charging different prices to different customers for same product) for 89 academic journals in 6 disciplines reveals: incidence of price discrimination rose between 1974 and 1984, increase in mean institutional (library) subscription price exceeded increase in mean individual subscription price. Journal list…

  19. Price Formation by Bargaining and Posted Prices

    NARCIS (Netherlands)

    Kultti, K.K.

    1997-01-01

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

  20. Mach's Principle

    Indian Academy of Sciences (India)

    that allows one to write down the laws of motion and arrive at the concept of inertia is somehow intimately re- lated to the background of distant parts of the universe. This argument is known as `Mach's principle' and we will analyse its implications further. When expressed in the framework of the absolute space,. Newton's ...

  1. Safety Principles

    Directory of Open Access Journals (Sweden)

    V. A. Grinenko

    2011-06-01

    Full Text Available The offered material in the article is picked up so that the reader could have a complete representation about concept “safety”, intrinsic characteristics and formalization possibilities. Principles and possible strategy of safety are considered. A material of the article is destined for the experts who are taking up the problems of safety.

  2. Mach's Principle

    Indian Academy of Sciences (India)

    popularize science. The underlying idea in Mach's principle is that the origin of inertia or mass of a particle is a dynamical quantity determined by the environ- ... Knowing the latitude of the location of the pendulum it is possible to calculate the Earth's spin period. The two methods give the same answer. At first sight this does ...

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

    International Nuclear Information System (INIS)

    Henriques, Irene; Sadorsky, Perry

    2008-01-01

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

  4. Value based pricing: the least valued pricing strategy

    OpenAIRE

    Hoenen, Bob

    2017-01-01

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

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

    International Nuclear Information System (INIS)

    Mazighi, A.E.H.

    2005-01-01

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

  6. Uncertainty Principles on Two Step Nilpotent Lie Groups

    Indian Academy of Sciences (India)

    Abstract. We extend an uncertainty principle due to Cowling and Price to two step nilpotent Lie groups, which generalizes a classical theorem of Hardy. We also prove an analogue of Heisenberg inequality on two step nilpotent Lie groups.

  7. Uncertainty principles on two step nilpotent Lie groups

    Indian Academy of Sciences (India)

    Abstract. We extend an uncertainty principle due to Cowling and Price to two step nilpotent Lie groups, which generalizes a classical theorem of Hardy. We also prove an analogue of Heisenberg inequality on two step nilpotent Lie groups.

  8. Can anything be done about the high electricity prices; Gaar det att goera naagot aat de hoega elpriserna

    Energy Technology Data Exchange (ETDEWEB)

    Andersson, Roland [Royal Institute of Technology, Stockholm (Sweden)

    2007-07-01

    The electricity prices have been increased drastically the last years. The principle of marginal cost pricing has been questioned, and a return to average cost pricing has been proposed - which should reduce prices substantially. This would however lead to a important increase in electricity consumption, and since marginal cost pricing leads to better management of electric power it ought to be kept. Lower prices can be achieved through lower energy taxes. New hydroelectric and nuclear power plants can also lead to lower prices, although perhaps only in a decade. A restart of the closed nuclear power plants at Barsebaeck is a quicker and much cheaper alternative.

  9. Prospects for oil prices

    International Nuclear Information System (INIS)

    Stevens, P.

    1992-01-01

    The basic argument presented is that the oil price is set in an administrated market. The administration is undertaken by the controllers of excess capacity to produce crude oil. The extent to which the administrated price matches the market price is a function, first, of the strength and effectiveness of the market controller and, secondly, of the state of supply and demand and expectations in the market. Currently, the market is operating close to capacity, what limited excess capacity exists is located mainly in Saudi Arabia and the Saudi Arabians appear to be following a low price objective. While the Saudi Arabians pursue volume, the short term project, in the balance of a political upheaval, is that oil prices will remain below the $21 per barrel agreed in July 1990. There is a view that Saudi Arabia would take quick action to reverse a price collapse, but attention is drawn to previous miscalculations with respect to price collapse. Should political circumstances allow the return of Iraq to the oil market, then excess capacity within the Gulf members of OPEC will return and control will be much more difficult. (UK)

  10. Prospects for oil prices

    International Nuclear Information System (INIS)

    Caddy, P.

    1992-01-01

    It is argued that the wave in oil prices which occurred in 1991, although appearing to suggest price instability, in fact shows the opposite. Steady oscillation between a low price level that leads to new customers and a high price that encourages customers to switch to alternatives is a sign of a stable market. This relative stability was achieved against the background of the political upheaval in the USSR and Eastern Europe and its unpredictable consequences. Such political uncertainties to one side, the difficulties of assessing demand trends in the light of the imponderables of the state of the world economy and the weather are stressed. Despite these problems, the view is expressed that correct reading of signals up the supply chain by producers should ensure continued relative price stability. This is not to say that prices will stay exactly the same, just that they will be bound within a trading range set by anticipated consumer and producer responses to the fluctuating prices. (UK)

  11. Pricing of new vaccines.

    Science.gov (United States)

    Lee, Bruce Y; McGlone, Sarah M

    2010-08-01

    New vaccine pricing is a complicated process that could have substantial long-standing scientific, medical, and public health ramifications. Pricing can have a considerable impact on new vaccine adoption and, thereby, either culminate or thwart years of research and development and public health efforts. Typically, pricing strategy consists of the following ten components: 1. Conduct a target population analysis; 2. Map potential competitors and alternatives; 3. Construct a vaccine target product profile (TPP) and compare it to projected or actual TPPs of competing vaccines; 4. Quantify the incremental value of the new vaccine's characteristics; 5. Determine vaccine positioning in the marketplace; 6. Estimate the vaccine price-demand curve; 7. Calculate vaccine costs (including those of manufacturing, distribution, and research and development); 8. Account for various legal, regulatory, third party payer, and competitor factors; 9. Consider the overall product portfolio; 10. Set pricing objectives; 11. Select pricing and pricing structure. While the biomedical literature contains some studies that have addressed these components, there is still considerable room for more extensive evaluation of this important area.

  12. Price Discrimination and Market Power

    OpenAIRE

    Shane Carbonneau; Preston McAfee; Hugo Mialon; Sue Mialon

    2004-01-01

    If there is price discrimination, at least one of the prices is not equal to marginal cost. Therefore, if there is price discrimination, there must be market power. While this logic is sound, it has led many policymakers to believe that price discrimination and market power are positively correlated. We present a model where measured price discrimination can be low while market power is high, and price discrimination can be high while market power is low, thus demonstrating that there is no t...

  13. Rationing-Based Price Discrimination

    OpenAIRE

    Ruhai Wu; Xianjun Geng; Andrew B. Whinston

    2006-01-01

    This paper provides a theory of rationing where rationing functions as an effective mechanism for second degree price discrimination by a monopoly seller. When a seller charges multiple prices on homogenous products to all consumers, supply at the lowest price is limited and rationed among consumers. The supply shortage differentiates products sold at the lowest price and those sold at a higher price. When high-valuation consumers identify themselves at the higher price, the seller may extrac...

  14. Valuation Struggles over Pricing

    DEFF Research Database (Denmark)

    Pallesen, Trine

    2016-01-01

    Public policies such as feed-in tariffs have been widely introduced to stimulate the development of renewable energies, and sustain a decarbonisation of the electricity sector. Proponents argue that these governance instruments safeguard public goods such as the climate – yet they are accused...... of creating political markets, and political prices, here understood as market distortion. This paper studies the ‘politics’ of pricing by following the adoption of the first feed-in tariff in France. Pricing as a way of achieving non-economic ends, such as climate mitigation, brings the values of several...

  15. Pricing of Licenses on CERN Technology

    CERN Document Server

    Eide, V; Gaivoronski, Alexei; Huuse, H; Streit-Bianchi, M; Le Goff, J M

    2006-01-01

    This Master thesis develops a framework for the pricing of licenses on technology, suitable for a Technology Transfer (TT) context that is characterized by a goal of dissemination, early-stage technologies, limited market information, and great variations between technologies. The chosen context is defined by comparing the policy and the specificity of the initial recipient, CERN, to other public research institutions, thereby aiming at the development of a general framework. A conceptual model of the framework is thereafter developed to accommodate considerations of all the indicated characteristics through three main subparts: 1)~the target price, 2)~the walk-away point, and 3)~the royalty structure. For estimation of a suitable target price, valuation methodologies from academic and business literature are reviewed and discussed with regard to their suitability for the chosen TT context, thus selecting six methods of different approaches and varying information dependency. A method for quantifying the appr...

  16. Modelling prices in competitive electricity markets

    International Nuclear Information System (INIS)

    Bunn, D.W.

    2004-04-01

    Electricity markets are structurally different to other commodities, and the real-time dynamic balancing of the electricity network involves many external factors. Because of this, it is not a simple matter to transfer conventional models of financial time series analysis to wholesale electricity prices. The rationale for this compilation of chapters from international authors is, therefore, to provide econometric analysis of wholesale power markets around the world, to give greater understanding of their particular characteristics, and to assess the applicability of various methods of price modelling. Researchers and professionals in this sector will find the book an invaluable guide to the most important state-of-the-art modelling techniques which are converging to define the special approaches necessary for unravelling and forecasting the behaviour of electricity prices. It is a high-quality synthesis of the work of financial engineering, industrial economics and power systems analysis, as they relate to the behaviour of competitive electricity markets. (author)

  17. The Impact of Price, Tax, and Advertising Policies on Alcohol Use in ...

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

    ... relationship between alcohol pricing, taxation, and advertising policies and alcohol use -impact of tobacco prices on alcohol use. The researchers will work with knowledge-transfer platform teams and decision-makers in Argentina, Bolivia, Chile, and Peru to design a tailored knowledge transfer and exchange strategy.

  18. Price of military uranium

    International Nuclear Information System (INIS)

    Klimenko, A.V.

    1998-01-01

    The theoretical results about optimum strategy of use of military uranium confirmed by systems approach accounts are received. The numerical value of the system approach price of the highly enriched military uranium also is given

  19. The price of pollution

    International Nuclear Information System (INIS)

    Bleijenberg, A.N.; Davidson, M.D.; Wit, R.

    1998-06-01

    The market does not create a price for environmental pollution for the simple reason that there is no market for the environment. What can be done is to calculate shadow prices for environmental pollution, which is achieved by calculating the price that would arise if there would be a market for the environment. In applying this method, it generally proves to be necessary to base calculations on government environmental targets. Using available research data, the method is used to calculate shadow prices for a number of key pollutants. The present report is based on the CE studies 'Schaduwprijzen Prioriterings Methodiek (SPM)' (1997), commissioned by ICI Holland BV, and 'De prijs van Milieuvervuiling' (1997), commissioned by KNP BT Packaging

  20. Market News Price Dataset

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Real-time price data collected by the Boston Market News Reporter. The NOAA Fisheries' "Fishery Market News" began operations in New York City on February 14, 1938....

  1. AKRO: Standard Prices

    Data.gov (United States)

    National Oceanic and Atmospheric Administration, Department of Commerce — Standard prices are generated for cost recovery programs in the Individual Fishing Quota (IFQ) halibut and sablefish, BSAI Rationalized crab, and Central Gulf of...

  2. Essays on Derivatives Pricing

    DEFF Research Database (Denmark)

    Kokholm, Thomas

    . With the existence of a liquid market for derivatives with variance as underlying, such as VIX options, VIX futures and a well-developed over-the-counter market for options on variance swaps, it is important to consider models that are able to fit these markets while consistently pricing vanilla options...... financial models, and most importantly, to be aware of their limitations. Following that belief, this thesis consists of three independent and self-contained papers, all dealing with topics in derivatives pricing. The first paper considers the pricing of traffic light options, which are appropriate...... the market for multivariate credit instruments, we take a step back and focus on single-name default modeling and introduce two new model classes for modeling of the default time of a company. Finally, in the third paper we propose a consistent pricing model for index and volatility derivatives...

  3. A STUDY ON THE REASONS WHY ADVANCE PRICE AGREEMENTS ARE NOT WIDELY USED IN TURKEY

    OpenAIRE

    ERTÜRK, Erkan; YALÇINER, Kürşat

    2017-01-01

    Multinationalcompanies (MNCs) have a permanent business relationship between branchesoperating in different countries, and the branches exchange goods, services andtechnology among themselves. The prices that a MNC determines for goods andservices produced by its subsidiaries in various countries are transfer prices.Transfer prices are determined to increase the profitability of the MNC as awhole. Member countries of the OECD have agreed that profit from transactionsbetween related parties sh...

  4. New product pricing

    International Nuclear Information System (INIS)

    Wilkinson, V.K.

    1981-01-01

    One of the most uncertain elements in budget planning is estimating production costs of items that have heretofore only been produced in prototype configurations and quantities. This paper examines the design and development of a mathematical model which computes appropriate prices for new and unique products. The resulting model offers a producer a fair return on his investment and the consumer a fair purchase price

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

    NARCIS (Netherlands)

    R.D. van Oest (Rutger); R. Paap (Richard)

    2004-01-01

    textabstractWe propose a new reference price framework for brand choice. In this framework, we employ a Markov-switching process with an absorbing state to model unobserved price recall of households. Reference prices result from the prices households are able to remember. Our model can be used to

  6. Price Recall, Bertrand Paradox and Price Dispersion With Elastic Demand

    NARCIS (Netherlands)

    Carvalho, M.

    2009-01-01

    This paper studies the consequence of an imprecise recall of the price by the consumers in the Bertrand price competition model for a homogeneous good. It is shown that firms can exploit this weakness and charge prices above the competitive price. This markup increases for rougher recall of the

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

    Science.gov (United States)

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

    1998-01-01

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

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

    NARCIS (Netherlands)

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

    2013-01-01

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

  9. DEMAND AND PRICES

    Directory of Open Access Journals (Sweden)

    VĂDUVA MARIA

    2014-08-01

    Full Text Available Studying the consumer’s behavior by the ordinal approach of utility with the help of indifference curves allows us to deduce the two “movement laws of demand” in this chapter: the demand for a “normal” good is decreasing function of its price and an increasing function of income. We will use the elasticity concept to measure the intensity of the relation that is established between the demand, on the one hand, and prices or income, on the other hand: elasticity – price, direct and crossed, and elasticity – income. We can classify the goods in many categories, depending on the values that this elasticity takes. The demand elasticity can be determined depending on price and income. It reflects the proportion in which the demand for different products changes with the modification of the consumers’ income, the other factors remaining constant. The elasticity compared to the income is a demonstration of legality from the consumer’s sphere, which determines a certain hierarchy of the needs of each population category in a certain level of income. The movement of prices orients both the options and decisions of producers, namely the most useful productions and the most efficient investments, as well as the consumers’ options and decisions on the most advantageous buying of goods and services that they need. The prices appear as a “signal system” coordinating and making coherence the economic agents’ decisions – producers, consumers and population.

  10. Basic principles

    International Nuclear Information System (INIS)

    Wilson, P.D.

    1996-01-01

    Some basic explanations are given of the principles underlying the nuclear fuel cycle, starting with the physics of atomic and nuclear structure and continuing with nuclear energy and reactors, fuel and waste management and finally a discussion of economics and the future. An important aspect of the fuel cycle concerns the possibility of ''closing the back end'' i.e. reprocessing the waste or unused fuel in order to re-use it in reactors of various kinds. The alternative, the ''oncethrough'' cycle, discards the discharged fuel completely. An interim measure involves the prolonged storage of highly radioactive waste fuel. (UK)

  11. Repeat Assessed Values Model for Housing Price Index

    Directory of Open Access Journals (Sweden)

    Carini Manuela

    2017-12-01

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

  12. 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)

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

    International Nuclear Information System (INIS)

    Kynev, K.

    1994-01-01

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

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

    OpenAIRE

    Maria Paz Espinosa

    1992-01-01

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

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

    OpenAIRE

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

    2013-01-01

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

  16. Transparency in natural gas prices in Western Europe

    International Nuclear Information System (INIS)

    Vrieling, E.B.; Munksgaard, J.; Hopper, R.J.

    1989-11-01

    The present situation on price transparency in Western Europe and North america within the context of the European internal gas market is analyzed. In chapter one the ideas and policy proposals put forward by the European Commission are discussed. Special attention is paid to the situation of the large industrial consumers. It is argued that price transparency needs to be extended to more upstream price aspects. This includes information on city-gates prices, transmission and handling charges in addition to wellhead and import prices. In Western Europe (chapter two) two pricing principles can be distinguished at the final consumer level: pricing according to costs and prices according to market value. The first principle is applied in France, Belgium, the United Kingdom and Austria, as some cost elements are included in the tariff calculations in Italy. Countries where a market-evaluation methodology is applied are Denmark, the Netherlands, Germany, Spain and Switzerland. In North America (chapter three) price transparency is extensive and part of the necessary conditions of an open access contract carriage market. In order to integrate the aspect of price transparency in the broader framework of the internal gas market a model of an integrated natural gas market is described in chapter four. The model specifies the preconditions of a truly integrated gas market, i.e. accessible market entry at all levels of the gas sector and for all market players, equal market opportunity and a regulatory oversight system. A brief comparison between the model and the actual market situation in Western Europe showed that hardly any of these preconditions are met. The comparison points out which actions need to be taken to implement an internal gas market in Western Europe. 9 appendices

  17. Press point on the prices

    International Nuclear Information System (INIS)

    Schilansky, J.L.

    2005-11-01

    To analyze the prices situation of the motor fuels, the authors present the mechanisms of the prices formation (markets, crude oils price and margins) and the market context (distribution, taxes, french energy policy). They discuss then the impacts of the round table of the 16 September 2005 at Bercy, facing the increase of the motor fuels prices. (A.L.B.)

  18. Faculty Awareness of Textbook Prices.

    Science.gov (United States)

    Sommer, Robert; And Others

    1988-01-01

    Reports that variation in textbook prices is not correlated with textbook quality as judged by instructors and that university faculty are less price conscious when selecting textbooks than are community college faculty. States that, if faculty had greater access to price information, textbook prices would decrease. Makes recommendations for…

  19. Prices in the two Germanies

    NARCIS (Netherlands)

    Dietzenbacher, E; Wagener, HJ

    Comparative evaluations across economic systems are often hampered by the typical valuation problem, that is, market prices have a different meaning than planned prices. This paper considers prices in the two Germanies and the widely accepted hypothesis that East German prices did not reflect

  20. Transferability and Linguistic Substrates.

    Science.gov (United States)

    Odlin, Terence

    1992-01-01

    The applicability of transferability principles to language contact in the British Isles, especially Ireland, is shown with a detailed discussion of absolute constructions, structures with interesting relations between syntax and discourse, and with susceptibility to cross-linguistic influence. Evidence for transferability of absolutes in…

  1. Price knowledge during grocery shopping

    DEFF Research Database (Denmark)

    Jensen, Birger Boutrup; Grunert, Klaus G

    2014-01-01

    Past research on consumer price knowledge has varied considerably partly due to differences in how and when price knowledge is measured.This paper applies a multi-point, multi-measure approach to reconcile differences in past price knowledge research by examining systematicrelationships between...... time of measurement and type of measures applied. Examination of consumer price knowledge before, during, and afterstore visit sheds light on what is measured at the individual points in time: episodic price knowledge and/or reference prices? With a between-subjects design interviewing 1......,204 respondents, the authors investigate three price knowledge measures (price recall, price recognition, and dealspotting) demonstrating that these are hierarchically related. Results suggest that reference prices dominate before store visit, but also that episodicprice knowledge, surprisingly, is still...

  2. Quantity precommitment and price matching

    DEFF Research Database (Denmark)

    Tumennasan, Norovsambuu

    We revisit the question of whether price matching is anti-competitive in a capacity constrained duopoly setting. We show that the effect of price matching depends on capacity. Specifically, price matching has no effect when capacity is relatively low, but it benefits the firms when capacity...... is relatively high. Interestingly, when capacity is in an intermediate range, price matching benefits only the small firm but does not affect the large firm in any way. Therefore, one has to consider capacity seriously when evaluating if price matching is anti-competitive. If the firms choose their capacities...... simultaneously before pricing decisions, then the effect of price matching is either pro-competitive or ambiguous. We show that if the cost of capacity is high, then price matching can only (weakly) decrease the market price. On the other hand, if the cost of capacity is low, then the effect of price matching...

  3. Gamescape Principles

    DEFF Research Database (Denmark)

    Nobaew, Banphot; Ryberg, Thomas

    2011-01-01

    developed by Buckingham. It supplements and extends this framework by offering a more detailed account of how visual principles and elements in games can be analysed. In developing this visual grammar we draw theoretically on existing approaches within: the arts, history, film study, semiotics, multimodal...... analysis, and game studies. We illustrate the theoretical and analytical framework by analysing samples of screenshots and video clips collected from the online game “World of Warcraft” (WoW) where we have conducted our online research. The research data is supplemented by ethnographic data (observation......This paper proposes a new theoretical framework or visual grammar for analysing visual aspects of digital 3D games, and for understanding more deeply the notion of Visual Digital Game Literacy. The framework focuses on the development of a visual grammar by drawing on the digital literacy framework...

  4. Price smarter on the Net.

    Science.gov (United States)

    Baker, W; Marn, M; Zawada, C

    2001-02-01

    Companies generally have set prices on the Internet in two ways. Many start-ups have offered untenably low prices in a rush to capture first-mover advantage. Many incumbents have simply charged the same prices on-line as they do off-line. Either way, companies are missing a big opportunity. The fundamental value of the Internet lies not in lowering prices or making them consistent but in optimizing them. After all, if it's easy for customers to compare prices on the Internet, it's also easy for companies to track customers' behavior and adjust prices accordingly. The Net lets companies optimize prices in three ways. First, it lets them set and announce prices with greater precision. Different prices can be tested easily, and customers' responses can be collected instantly. Companies can set the most profitable prices, and they can tap into previously hidden customer demand. Second, because it's so easy to change prices on the Internet, companies can adjust prices in response to even small fluctuations in market conditions, customer demand, or competitors' behavior. Third, companies can use the clickstream data and purchase histories that it collects through the Internet to segment customers quickly. Then it can offer segment-specific prices or promotions immediately. By taking full advantage of the unique possibilities afforded by the Internet to set prices with precision, adapt to changing circumstances quickly, and segment customers accurately, companies can get their pricing right. It's one of the ultimate drivers of e-business success.

  5. House Prices and Taxes

    DEFF Research Database (Denmark)

    Gjedsted Nielsen, Mads

    of only 31%. We use 2007 municipal reform in Denmark in which 256 municipalities changed tax rates, as an exogenous shock to taxes. The exogeneity of the shock to taxes and the size of the data set is an improvement over earlier studies. Our findings significantly downward adjust the degree of tax......This paper is the first to consider a large scale natural experiment to estimate the effect of taxes on house prices. We find that a 1 percentage-point increase in income tax rates lead to a drop in house prices of at most 2.2%. This corresponds to a tax capitalization for the average household...... capitalization from earlier studies. Furthermore, we find no effect of property taxes on house prices. We attribute this to the low levels of Danish municipal property tax rates compared to income tax rates....

  6. Paying the price

    International Nuclear Information System (INIS)

    1993-01-01

    In spring 1993 MORI was commissioned to find out whether people think the prices they pay for water, gas, electricity and telephones are reasonable or not. The findings were compared with similar surveys in 1987 and 1990. Overall, more consumers now think prices for these household services are unreasonable compared to three years ago. The biggest shift in opinion is about water bills. One in four customers now feel that water charges are very unreasonable - a rise of nearly nine per cent since 1990. A similar proportion are unhappy with telephone charges, a negative view that has been fairly consistent over six years. There has been little change in people's views about gas and electricity prices since 1990 although satisfaction since 1987 has dropped slightly. (author)

  7. Limits to oil pricing

    International Nuclear Information System (INIS)

    Austvik, O.G.

    1992-01-01

    The bad record of oil price forecasting indicates that conventional oil market models should be critically reassessed. Scenario planning may be one alternative approach. This approach does not contradict other theories of the market. But it claims that no single discipline is able to tell the whole truth about the market. The SP approach stresses and clarifies the role of uncertainty. It argues that without a cross-disciplinary approach, with an adequate choice of parameters, at the right level of in depth discussion, the analysis may either lose essential input or drown in detail. As an example of the methodology, an analysis of the oil market in the 1990s is presented. This shows how upper and lower limits for the price can be constructed, and which actual price development can be expected, in a combination of economic and political reasoning. (author)

  8. Decommissioning Cost Estimating -The ''Price'' Approach

    International Nuclear Information System (INIS)

    Manning, R.; Gilmour, J.

    2002-01-01

    Over the past 9 years UKAEA has developed a formalized approach to decommissioning cost estimating. The estimating methodology and computer-based application are known collectively as the PRICE system. At the heart of the system is a database (the knowledge base) which holds resource demand data on a comprehensive range of decommissioning activities. This data is used in conjunction with project specific information (the quantities of specific components) to produce decommissioning cost estimates. PRICE is a dynamic cost-estimating tool, which can satisfy both strategic planning and project management needs. With a relatively limited analysis a basic PRICE estimate can be produced and used for the purposes of strategic planning. This same estimate can be enhanced and improved, primarily by the improvement of detail, to support sanction expenditure proposals, and also as a tender assessment and project management tool. The paper will: describe the principles of the PRICE estimating system; report on the experiences of applying the system to a wide range of projects from contaminated car parks to nuclear reactors; provide information on the performance of the system in relation to historic estimates, tender bids, and outturn costs

  9. Technology Transfer

    Science.gov (United States)

    Smith, Nanette R.

    1995-01-01

    The objective of this summer's work was to attempt to enhance Technology Application Group (TAG) ability to measure the outcomes of its efforts to transfer NASA technology. By reviewing existing literature, by explaining the economic principles involved in evaluating the economic impact of technology transfer, and by investigating the LaRC processes our William & Mary team has been able to lead this important discussion. In reviewing the existing literature, we identified many of the metrics that are currently being used in the area of technology transfer. Learning about the LaRC technology transfer processes and the metrics currently used to track the transfer process enabled us to compare other R&D facilities to LaRC. We discuss and diagram impacts of technology transfer in the short run and the long run. Significantly, it serves as the basis for analysis and provides guidance in thinking about what the measurement objectives ought to be. By focusing on the SBIR Program, valuable information regarding the strengths and weaknesses of this LaRC program are to be gained. A survey was developed to ask probing questions regarding SBIR contractors' experience with the program. Specifically we are interested in finding out whether the SBIR Program is accomplishing its mission, if the SBIR companies are providing the needed innovations specified by NASA and to what extent those innovations have led to commercial success. We also developed a survey to ask COTR's, who are NASA employees acting as technical advisors to the SBIR contractors, the same type of questions, evaluating the successes and problems with the SBIR Program as they see it. This survey was developed to be implemented interactively on computer. It is our hope that the statistical and econometric studies that can be done on the data collected from all of these sources will provide insight regarding the direction to take in developing systematic evaluations of programs like the SBIR Program so that they can

  10. Wireless network pricing

    CERN Document Server

    Huang, Jianwei

    2013-01-01

    Today's wireless communications and networking practices are tightly coupled with economic considerations, to the extent that it is almost impossible to make a sound technology choice without understanding the corresponding economic implications. This book aims at providing a foundational introduction on how microeconomics, and pricing theory in particular, can help us to understand and build better wireless networks. The book can be used as lecture notes for a course in the field of network economics, or a reference book for wireless engineers and applied economists to understand how pricing

  11. Modelling oil price volatility

    Energy Technology Data Exchange (ETDEWEB)

    Narayan, Paresh Kumar [Deakin University, Melbourne (Australia). Faulty of Business and Law, School of Accounting, Economics and Finance; Narayan, Seema [Royal Melbourne Institute of Technology, Melbourne (Australia). School of Economics, Finance and Marketing

    2007-12-15

    In this paper, we examine the volatility of crude oil price using daily data for the period 1991-2006. Our main innovation is that we examine volatility in various sub-samples in order to judge the robustness of our results. Our main findings can be summarised as follows: (1) across the various sub-samples, there is inconsistent evidence of asymmetry and persistence of shocks; and (2) over the full sample period, evidence suggests that shocks have permanent effects, and asymmetric effects, on volatility. These findings imply that the behaviour of oil prices tends to change over short periods of time. (author)

  12. Support vector machine for day ahead electricity price forecasting

    Science.gov (United States)

    Razak, Intan Azmira binti Wan Abdul; Abidin, Izham bin Zainal; Siah, Yap Keem; Rahman, Titik Khawa binti Abdul; Lada, M. Y.; Ramani, Anis Niza binti; Nasir, M. N. M.; Ahmad, Arfah binti

    2015-05-01

    Electricity price forecasting has become an important part of power system operation and planning. In a pool- based electric energy market, producers submit selling bids consisting in energy blocks and their corresponding minimum selling prices to the market operator. Meanwhile, consumers submit buying bids consisting in energy blocks and their corresponding maximum buying prices to the market operator. Hence, both producers and consumers use day ahead price forecasts to derive their respective bidding strategies to the electricity market yet reduce the cost of electricity. However, forecasting electricity prices is a complex task because price series is a non-stationary and highly volatile series. Many factors cause for price spikes such as volatility in load and fuel price as well as power import to and export from outside the market through long term contract. This paper introduces an approach of machine learning algorithm for day ahead electricity price forecasting with Least Square Support Vector Machine (LS-SVM). Previous day data of Hourly Ontario Electricity Price (HOEP), generation's price and demand from Ontario power market are used as the inputs for training data. The simulation is held using LSSVMlab in Matlab with the training and testing data of 2004. SVM that widely used for classification and regression has great generalization ability with structured risk minimization principle rather than empirical risk minimization. Moreover, same parameter settings in trained SVM give same results that absolutely reduce simulation process compared to other techniques such as neural network and time series. The mean absolute percentage error (MAPE) for the proposed model shows that SVM performs well compared to neural network.

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

    Directory of Open Access Journals (Sweden)

    Andrea Erika NYÁRÁDI

    2007-01-01

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

  14. Energy pricing policy in Iran

    International Nuclear Information System (INIS)

    Davood Manzoor

    1995-01-01

    Low energy prices in Iran do not reflect economic costs. Further distortions exist in the tariff structures of most energy sources and in their relative prices. Price reform is a key policy element for achieving increased energy conservation and economic substitution. Subsidies should be made transparent and explained by the Government, and, when eliminated, they could be compensated by target measures or direct subsidies for low income households. Price reforms are under way, with some caution though, because of possible political and inflationary consequences. In order to better understand the need for price reforms a brief analysis of the current energy pricing policy is provided there. (author)

  15. On Storekeepers' Pricing Behavior.

    NARCIS (Netherlands)

    B. Bode (Ben); J. Koerts (Johan); A.R. Thurik (Roy)

    1986-01-01

    textabstractThis research note deals with a quantitative analysis of differences in percentage gross margin between individual stores in the retail trade. A number of hypotheses on pricing behavior of storekeepers are tested using Dutch survey data from nine different types of retail stores. We

  16. Pricing offshore wind power

    International Nuclear Information System (INIS)

    Levitt, Andrew C.; Kempton, Willett; Smith, Aaron P.; Musial, Walt; Firestone, Jeremy

    2011-01-01

    Offshore wind offers a very large clean power resource, but electricity from the first US offshore wind contracts is costlier than current regional wholesale electricity prices. To better understand the factors that drive these costs, we develop a pro-forma cash flow model to calculate two results: the levelized cost of energy, and the breakeven price required for financial viability. We then determine input values based on our analysis of capital markets and of 35 operating and planned projects in Europe, China, and the United States. The model is run for a range of inputs appropriate to US policies, electricity markets, and capital markets to assess how changes in policy incentives, project inputs, and financial structure affect the breakeven price of offshore wind power. The model and documentation are made publicly available. - Highlights: → We calculate the Breakeven Price (BP) required to deploy offshore wind plants. → We determine values for cost drivers and review incentives structures in the US. → We develop 3 scenarios using today's technology but varying in industry experience. → BP differs widely by Cost Scenario; relative policy effectiveness varies by stage. → The low-range BP is below regional market values in the Northeast United States.

  17. Housing Price Forecastability

    DEFF Research Database (Denmark)

    Bork, Lasse; Møller, Stig Vinther

    2016-01-01

    We examine U.S. housing price forecastability using principal component analysis (PCA), partial least squares (PLS), and sparse PLS (SPLS). We incorporate information from a large panel of 128 economic time series and show that macroeconomic fundamentals have strong predictive power for future mo...

  18. Option Pricing and Momentum

    NARCIS (Netherlands)

    Rodriguez, J.C.

    2007-01-01

    If managers are reluctant to fully adjust dividends to changes in earnings, stock returns and changes in the dividend yield will tend to be negatively correlated. When this is the case, stock returns will exhibit positive autocorrelation, or mo- mentum. This paper studies the pricing of options in

  19. 2050: A Pricing Odyssey

    Energy Technology Data Exchange (ETDEWEB)

    Faruqui, Ahmad

    2006-10-15

    The author uses the Rip Van Winkle approach favored by marketers to gaze, clear-eyed, into the future - say, the year 2050 - to visualize alternative demand-response possibilities. Dare we go California Dreamin' of a distant utopia - or is it inevitable that pricing myopia will keep us from attaining the fulfillment of many of our career goals? (author)

  20. Energy prices. August 2004

    International Nuclear Information System (INIS)

    2004-08-01

    This document makes a synthesis of the main French energy prices and tariffs in August 2004 and for the years 2002 and 2003 (annual average) per sector (transports, residential, industry) and per type of energy source (automotive fuels, domestic fuel, district heating, propane, coal, wood, electricity, natural gas). Data are presented in tables. (J.S.)

  1. Energy prices. January 2005

    International Nuclear Information System (INIS)

    2005-01-01

    This document makes a synthesis of the main French energy prices and tariffs in January 2005 and for the years 2003 and 2004 (annual average) per sector (transports, residential, industry) and per type of energy source (automotive fuels, domestic fuel, district heating, propane, coal, wood, electricity, natural gas). Data are presented in tables. (J.S.)

  2. Pricing methodologies and approaches

    International Nuclear Information System (INIS)

    Petrov, K.

    2002-01-01

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

  3. Road pricing policy implementation

    NARCIS (Netherlands)

    Vonk Noordegraaf, D.M.

    2016-01-01

    Urban areas suffer from the negative externalities of road transport like congested road networks, air pollution and road traffic accidents. A measure to reduce these negative externalities is road pricing, meaning policies that impose direct charges on road use (Jones and Hervik, 1992). Since the

  4. Carbon pricing comes clean

    International Nuclear Information System (INIS)

    De Wit, Elisa

    2011-01-01

    Together with the Clean Energy Bill, the implications of the Australian Federal Government's climate change legislative package are far reaching. Norton Rose gives business a heads-up in this breakdown of the draft legislation underpinning the carbon pricing and clean energy scheme. It is a summary of Norton Rose's full analysis.

  5. 7 CFR 1000.54 - Equivalent price.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 9 2010-01-01 2009-01-01 true Equivalent price. 1000.54 Section 1000.54 Agriculture... Prices § 1000.54 Equivalent price. If for any reason a price or pricing constituent required for computing the prices described in § 1000.50 is not available, the market administrator shall use a price or...

  6. To raise or not to raise? Impact assessment of Russia's incremental gas price reform

    OpenAIRE

    Heyndrickx, Christophe; Alexeeva-Talebi, Victoria; Tourdyeva, Natalia

    2012-01-01

    The growing momentum for gas price liberalization in Russia is increasingly constrained by fears of potentially strong adverse impact that market-based price setting principle will have on the economy. Based on a novel multi-regional, multi-sector and multi-household computable general equilibrium (CGE) model of the Russian Federation, this paper presents a simple yet a flexible framework for evaluating gas price reform. We found that the reform is feasible at low economic cost, without great...

  7. Historical Cost Dan General Price Level Accounting: Analisis Relevansi Indikator Keuangan

    OpenAIRE

    -, Meythi; Teresa, Sheffie

    2012-01-01

    In conventional accounting, financial statements are based on the historical cost principle that assumes that prices (monetary unit) are stable. Conventional accounting recognizes neither changes in the general price level nor changes in the specific price level. Consequently, if there are any changes in purchasing power such as in inflation period, the historical financial statement are not economically relevant and also income is usually overstated, and the fixed assets are usually understa...

  8. Method of moments approach to pricing double barrier contracts in polynomial jump-diffusion models

    NARCIS (Netherlands)

    Eriksson, B.; Pistorius, M.

    2011-01-01

    Abstract: We present a method of moments approach to pricing double barrier contracts when the underlying is modelled by a polynomial jump-diffusion. By general principles the price is linked to certain infinite dimensional linear programming problems. Subsequently approximating these by finite

  9. Pricing of electricity in a time of change - some key issues

    International Nuclear Information System (INIS)

    Mostert, W.

    1995-01-01

    The paper covers four topics: (I) what does full cost coverage mean in the Eastern European power sector, (II) LRMC (Long Run Marginal Cost) pricing in regulated utilities versus free market prices; (III) limits to the internalization of external costs in fuel pricing, (IV) pricing of IPPs (Independent Power Producer). The paper argues that the tariff which allows full cost coverage in the Eastern European power sector should be defined as the minimum tariff which allows 30% self-financing of investments and a rate of return of at least 5% on invested assets. The appropriate level of self-financing relates to the appropriate capital structure of the company; the rate of return to the ability to attract finance in the long run. During the last twenty years there has been general consensus among power economists that the application of the LRMC pricing principle for the setting of tariffs was the best principle to ensure efficiency on both the demand as well as the supply side. In free markets involving TPA (Third Party Access) and spot markets, that principle can no longer be applied. In times of scarcity, prices will be above LMRC; in times of surplus capacity below LRMC. Economists have argued for years that external costs and benefits have to be ''internalized'' in tariffs and prices in order to provide consumers and investors with the right pricing principles

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

    Science.gov (United States)

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

    2018-01-01

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

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

    DEFF Research Database (Denmark)

    Boom, Anette

    Inspired by recent regulations in the New York ICAP market we examine the effect of different price regulations on a multi-unit uniform price auction. We investigate a bid cap and a bid foor. Given suffciently high total capacities general bid caps always ensure that the market price does...

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

    Science.gov (United States)

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

    2014-12-01

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

  13. Oil prices and financial stress: A volatility spillover analysis

    International Nuclear Information System (INIS)

    Nazlioglu, Saban; Soytas, Ugur; Gupta, Rangan

    2015-01-01

    This paper examines whether there is a volatility transmission between oil prices and financial stress by means of the volatility spillover test. We employ WTI crude oil prices and Cleveland financial stress index for the period 1991–2014 and divide the sample into pre-crisis, in-crisis, and post-crisis periods due to the downward trend in oil price in 2008. The volatility model estimations indicate that oil prices and financial stress index are dominated by long-run volatility. The volatility spillover causality test supports evidence on risk transfer from oil prices to financial stress before the crisis and from financial stress to oil prices after the crisis. The impulse response analysis shows that the volatility transmission pattern has similar dynamics before and after the crisis and is characterized by higher and long-lived effects during the crisis. Our results have implications for both policy makers and investors, and for future work. -- Highlights: •Volatility spillover between oil prices and financial stress index is examined. •Analysis is conducted for sub-periods: pre-crisis, in-crisis, and post-crisis •Oil prices spill on financial stress before the crisis, but spillover reversed after the crisis. •Volatility transmission pattern has similar dynamics before and after the crisis. •Implications for investors and policy makers are discussed

  14. Higher fuel and food prices

    DEFF Research Database (Denmark)

    Arndt, Channing; Benfica, Rui; Maximiano, Nelson

    2008-01-01

    of Mozambique indicates that the fuel price shock dominates rising food prices from both macroeconomic and poverty perspectives. Again, negative impacts are larger in urban areas. The importance of agricultural production response in general and export response in particular is highlighted. Policy analysis......Rising world prices for fuel and food represent a negative terms-of-trade shock for Mozambique. The impacts of these price rises are analyzed using various approaches. Detailed price data show that the world price increases are being transmitted to domestic prices. Short-run net benefit ratio...... analysis indicates that urban households and households in the southern region are more vulnerable to food price increases. Rural households, particularly in the North and Center, often benefit from being in a net seller position. Longer-term analysis using a computable general equilibrium (CGE) model...

  15. Technology Transfer and Technology Transfer Intermediaries

    Science.gov (United States)

    Bauer, Stephen M.; Flagg, Jennifer L.

    2010-01-01

    A standard and comprehensive model is needed to evaluate and compare technology transfer systems and the stakeholders within these systems. The principle systems considered include federal laboratories, U.S. universities, the rehabilitation engineering research centers (RERCs), and large small business innovation research programs. An earlier…

  16. Developing a consumer pricing strategy.

    Science.gov (United States)

    Sturm, Arthur; Tiedemann, Frank

    2013-05-01

    Healthcare providers can learn a variety of pricing lessons from the retail market: For providers, wholesale pricing--"the price to play"--alone is not enough. Once a hospital or health system chooses a market position, the provider creates an expectation that must be met-consistently. Consumer loyalty is fluid, and the price of care or service is not always the motivator for choosing one organization over another; intangibles such as location and level of customer service also drive purchasing decisions.

  17. Electric Cars and Oil Prices

    OpenAIRE

    Azar, Jose

    2009-01-01

    This paper studies the joint dynamics of oil prices and interest in electric cars, measured as the volume of Google searches for related phrases. Not surprisingly, I find that oil price shocks predict increases in Google searches for electric cars. Much more surprisingly, I also find that an increase in Google searches predicts declines in oil prices. The high level of public interest in electric cars between April and August of 2008 can explain approximately half of the decline in oil prices...

  18. Home Price Beliefs in Australia

    OpenAIRE

    Callan Windsor; Gianni La Cava; James Hansen

    2014-01-01

    We document some new stylised facts about how Australian homeowners value their homes using household panel data and unit-record data on home sale prices. We find that homeowners' price beliefs are unbiased at the postcode level, on average, although there is considerable dispersion in the difference between beliefs and prices across postcodes. Household characteristics, such as age and tenure, and the regional unemployment rate are correlated with differences between beliefs and prices. We a...

  19. Ethical aspect price decision making

    OpenAIRE

    Grubor Aleksandar

    2007-01-01

    Price decision making in a marketing program framework creatings is a complicated and delicated part of marketing management, especially to keep in sight culminating of mass external factors. In a market economies price policy as a marketing mix instrument rarely is regulated by the law, which opening the ethical aspect questions of price decision making process. The ethics in the price decision making means consideration of the inner law of the individual (marketing managers and/or consumers...

  20. Pricing of Asian temperature risk

    OpenAIRE

    Cabrera, Brenda López

    2009-01-01

    Weather derivatives (WD) are different from most financial derivatives because the underlying weather cannot be traded and therefore cannot be replicated by other financial instruments. The market price of risk (MPR) is an important parameter of the associated equivalent martingale measures used to price and hedge weather futures/options in the market. The majority of papers so far have priced non-tradable assets assuming zero MPR, but this assumption underestimates WD prices. We study the MP...

  1. Pricing objectives in nonprofit hospitals.

    OpenAIRE

    Bauerschmidt, A D; Jacobs, P

    1985-01-01

    This article reports on a survey of 60 financial managers of nonprofit hospitals in the eastern United States relating to the importance of a number of factors which influence their pricing decisions and the pricing objectives which they pursue. Among the results uncovered by the responses: that trustees are the single most important body in the price-setting process (doctors play a relatively unimportant role); that hospital pricing goals are more related to target net revenue than profit ma...

  2. Pricing unit-linked insurance with guaranteed benefit

    Science.gov (United States)

    Iqbal, M.; Novkaniza, F.; Novita, M.

    2017-07-01

    Unit-linked insurance is an investment-linked insurance, that is, the given benefit is the premium investment out-come. Recently, the most widely marketed insurance in the industry is unit-linked insurance with guaranteed benefit. With guaranteed benefit applied, the insurance benefits form is similar to the payoff form of European call option. Thereby, pricing European call option is involved in pricing unit-linked insurance with guaranteed benefit. The dynamics of investment outcome is assumed to follow stochastic interest rate. Hence, change of measure methods is used in pricing unit-linked insurance. The discount factor with stochastic interest rate needs to be modified as well to be zero coupon bond price. Eventually, the insurance premium is calculated by equivalence principle with guaranteed benefit and insurance period explicitly given.

  3. Importance of Electricity Transport Pricing in Liberalised Energy Markets

    International Nuclear Information System (INIS)

    Wohlgemuth, N.

    2001-01-01

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

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

    DEFF Research Database (Denmark)

    Boom, Anette

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

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

    DEFF Research Database (Denmark)

    Boom, Anette

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

  6. Price Discrimination: A Classroom Experiment

    Science.gov (United States)

    Aguiló, Paula; Sard, Maria; Tugores, Maria

    2016-01-01

    In this article, the authors describe a classroom experiment aimed at familiarizing students with different types of price discrimination (first-, second-, and third-degree price discrimination). During the experiment, the students were asked to decide what tariffs to set as monopolists for each of the price discrimination scenarios under…

  7. Pricing Policies for Quantity Discounts

    OpenAIRE

    Maqbool Dada; K. N. Srikanth

    1987-01-01

    In this paper we analyze the seller's decision to offer quantity discounts to the buyer. We build on an existing model as follows. We first characterize the range of order sizes and prices which reduce costs for the buyer and seller, and develop related pricing schemes. The model is then extended to allow inventory carrying costs to be a function of price.

  8. Cost Price Characteristics of Seaport and River Port Services

    Directory of Open Access Journals (Sweden)

    Teodor Perić

    2003-09-01

    Full Text Available The discussion about the various aspects of the cost price ofthe respective services starts from the previous knowledge aboutthe role and significance of the sea and river ports within thetraffic system, and the scope of their services. The previousknowledge includes also the knowledge about the used meansof long-term assets which are in this study classified into followingthree groups: a objects of infrast/Ucture, b objects ofsuprast/Ucture, and c shopfloors and equipment.The st/Ucture and functional purpose of these means confirmsthe high capital intensity of the sea and river port terminals,which leads to the high share of the fixed components ofthe costs in the cost price of these services.Most of the definitions of the cost price start from the factthat it is a part of the value or price of production, i.e. services,which accounts for the price of the used means (raw materialsand ftxed capital and the price of the labour.The procedure of obtaining the cost price is called calculation,and certain 1Ules or principles starting from punctuality,adaptability, updating, comparability, economic efficiency, etc.need to be complied with.Due to very high fragmentation of the sea and river port services,it is difficult to hannonise all the mentioned principles,and in calculating the full cost price various methods for calculatingthe common costs are applied, and the suitable methodsof distributing the common costs, i.e. overheads. In order tocalculate these procedures as precisely as possible, appropriateindicators are used, i.e. indirect indicators, but everythingwould be much simpler if the differentiation were narrower, i.e.if the number of given services were reduced by an adequateprocedure of levelling out.

  9. Uranium price forecasting methods

    International Nuclear Information System (INIS)

    Fuller, D.M.

    1994-01-01

    This article reviews a number of forecasting methods that have been applied to uranium prices and compares their relative strengths and weaknesses. The methods reviewed are: (1) judgemental methods, (2) technical analysis, (3) time-series methods, (4) fundamental analysis, and (5) econometric methods. Historically, none of these methods has performed very well, but a well-thought-out model is still useful as a basis from which to adjust to new circumstances and try again

  10. Record prices [crude oil

    International Nuclear Information System (INIS)

    Anon

    2006-01-01

    Crude oil prices climbed to new record levels on fears of a future loss of supplies from Iran as Washington stepped up its efforts to persuade Tehran to abandon its programme to produce nuclear fuel. IPE's December Brent contract set a new record for the exchange by trading at $75.80/bbl on 21st April. On the same day October WTI reached an all-time high of $77.30/bbl on Nymex. US product prices gained as refiners struggled to produce sufficient middle distillate. Alarmed by the rising retail price of gasoline, the US Senate debated a reduction in the already low US tax rate on motor spirit. The House of Representatives passed a measure to prohibit overcharging for petrol, diesel and heating oil, but Democrats rejected a Republican proposal to speed-up the process for approving new refineries. President George W Bush announced a temporary easing of new gasoline and diesel specifications (see 'Focus', March 2006) to allow more fuel to be produced. He also agreed to delay the repayment of some 2.1 mn bbl of crude oil lent to companies after last year's hurricanes from the Strategic Petroleum Reserve. California announced an inquiry into alleged overcharging for fuel by oil companies operating in the state. (author)

  11. Market price of risk

    Directory of Open Access Journals (Sweden)

    Kožul Nataša

    2017-01-01

    Full Text Available Most people find stochastic calculus intimidating and skip through complex equations. While there is no way of simplifying them, this work is an attempt to relate some of the widely used concepts in pricing financial derivatives to the practical market observations. Recent financial crisis has brought many adverse economic changes, but has also challenged the long-standing beliefs, such as that interest rates will always remain positive. Although the debate on its exact causes is unlikely to be settled, many blame complex derivatives and underlying models. Quantitative analysts that developed them, on the other hand, claim that the math was correct, but the complex products were mis-sold. Regardless of what side one wishes to take, the fact remains that the stochastic differential equations and integrals underlying most derivatives pricing models cannot be easily related to the actual market movements. Here, Markov and Wiener processes - the cornerstones of financial calculus - are explained in relation to return on investment, via market price of risk.

  12. 7 CFR 1000.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

    ... adjusted Class I differential specified in § 1000.52 divided by 100, plus the adjustments to Class I prices specified in §§ 1005.51(b), 1006.51(b) and 1007.51(b) divided by 100, plus the advanced butterfat price..., shall be 0.965 times the Class I skim milk price plus 3.5 times the Class I butterfat price. (b) Class I...

  13. The gauge principle vs. the equivalence principle

    International Nuclear Information System (INIS)

    Gates, S.J. Jr.

    1984-01-01

    Within the context of field theory, it is argued that the role of the equivalence principle may be replaced by the principle of gauge invariance to provide a logical framework for theories of gravitation

  14. Chaotic structure of oil prices

    Science.gov (United States)

    Bildirici, Melike; Sonustun, Fulya Ozaksoy

    2018-01-01

    The fluctuations in oil prices are very complicated and therefore, it is unable to predict its effects on economies. For modelling complex system of oil prices, linear economic models are not sufficient and efficient tools. Thus, in recent years, economists attached great attention to non-linear structure of oil prices. For analyzing this relationship, GARCH types of models were used in some papers. Distinctively from the other papers, in this study, we aimed to analyze chaotic pattern of oil prices. Thus, it was used the Lyapunov Exponents and Hennon Map to determine chaotic behavior of oil prices for the selected time period.

  15. Cost Validation Using PRICE H

    Science.gov (United States)

    Jack, John; Kwan, Eric; Wood, Milana

    2011-01-01

    PRICE H was introduced into the JPL cost estimation tool set circa 2003. It became more available at JPL when IPAO funded the NASA-wide site license for all NASA centers. PRICE H was mainly used as one of the cost tools to validate proposal grassroots cost estimates. Program offices at JPL view PRICE H as an additional crosscheck to Team X (JPL Concurrent Engineering Design Center) estimates. PRICE H became widely accepted ca, 2007 at JPL when the program offices moved away from grassroots cost estimation for Step 1 proposals. PRICE H is now one of the key cost tools used for cost validation, cost trades, and independent cost estimates.

  16. Sequential auctions and price anomalies

    Directory of Open Access Journals (Sweden)

    Trifunović Dejan

    2014-01-01

    Full Text Available In sequential auctions objects are sold one by one in separate auctions. These sequential auctions might be organized as sequential first-price, second-price, or English auctions. We will derive equilibrium bidding strategies for these auctions. Theoretical models suggest that prices in sequential auctions with private values or with randomly assigned heterogeneous objects should have no trend. However, empirical research contradicts this result and prices exhibit a declining or increasing trend, which is called declining and increasing price anomaly. We will present a review of these empirical results, as well as different theoretical explanations for these anomalies.

  17. Reference Prices and Nominal Rigidities

    OpenAIRE

    Eichenbaum, Martin; Jaimovich, Nir; Rebelo, Sérgio

    2008-01-01

    We assess the importance of nominal rigidities using a new weekly scanner data set from a major U.S. retailer, that contains information on prices, quantities, and costs for over 1,000 stores. We find that nominal rigidities are important but do not take the form of sticky prices. Instead, nominal rigidities take the form of inertia in reference prices and costs, defined as the most common prices and costs within a given quarter. Weekly prices and costs fluctuate around reference values which...

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

    International Nuclear Information System (INIS)

    Lim, Seul-Ye; Yoo, Seung-Hoon

    2013-01-01

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

  19. Equivalence principles and electromagnetism

    Science.gov (United States)

    Ni, W.-T.

    1977-01-01

    The implications of the weak equivalence principles are investigated in detail for electromagnetic systems in a general framework. In particular, it is shown that the universality of free-fall trajectories (Galileo weak equivalence principle) does not imply the validity of the Einstein equivalence principle. However, the Galileo principle plus the universality of free-fall rotation states does imply the Einstein principle.

  20. Price floors for emissions trading

    International Nuclear Information System (INIS)

    Wood, Peter John; Jotzo, Frank

    2011-01-01

    Price floors in greenhouse gas emissions trading schemes can guarantee minimum abatement efforts if prices are lower than expected, and they can help manage cost uncertainty, possibly as complements to price ceilings. Provisions for price floors are found in several recent legislative proposals for emissions trading. Implementation however has potential pitfalls. Possible mechanisms are government commitments to buy back permits, a reserve price at auction, or an extra fee or tax on acquittal of emissions permits. Our analysis of these alternatives shows that the fee approach has budgetary advantages and is more compatible with international permit trading than the alternatives. It can also be used to implement more general hybrid approaches to emissions pricing. - Research highlights: → Price floors for emissions trading schemes guarantee a minimum carbon price. → Price floors mean that emissions can be less than specified by the ETS cap. → We examine how price floors can relate to different policy objectives. → We compare different mechanisms for implementing a price floor. → We find that a mechanism where there is an extra tax or fee has advantages.

  1. Trading Network Predicts Stock Price

    Science.gov (United States)

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

    2014-01-01

    Stock price prediction is an important and challenging problem for studying financial markets. Existing studies are mainly based on the time series of stock price or the operation performance of listed company. In this paper, we propose to predict stock price based on investors' trading behavior. For each stock, we characterize the daily trading relationship among its investors using a trading network. We then classify the nodes of trading network into three roles according to their connectivity pattern. Strong Granger causality is found between stock price and trading relationship indices, i.e., the fraction of trading relationship among nodes with different roles. We further predict stock price by incorporating these trading relationship indices into a neural network based on time series of stock price. Experimental results on 51 stocks in two Chinese Stock Exchanges demonstrate the accuracy of stock price prediction is significantly improved by the inclusion of trading relationship indices.

  2. Oil price uncertainty in Canada

    International Nuclear Information System (INIS)

    Elder, John; Serletis, Apostolos

    2009-01-01

    Bernanke [Bernanke, Ben S. Irreversibility, uncertainty, and cyclical investment. Quarterly Journal of Economics 98 (1983), 85-106.] shows how uncertainty about energy prices may induce optimizing firms to postpone investment decisions, thereby leading to a decline in aggregate output. Elder and Serletis [Elder, John and Serletis, Apostolos. Oil price uncertainty.] find empirical evidence that uncertainty about oil prices has tended to depress investment in the United States. In this paper we assess the robustness of these results by investigating the effects of oil price uncertainty in Canada. Our results are remarkably similar to existing results for the United States, providing additional evidence that uncertainty about oil prices may provide another explanation for why the sharp oil price declines of 1985 failed to produce rapid output growth. Impulse-response analysis suggests that uncertainty about oil prices may tend to reinforce the negative response of output to positive oil shocks. (author)

  3. Trading network predicts stock price.

    Science.gov (United States)

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

    2014-01-16

    Stock price prediction is an important and challenging problem for studying financial markets. Existing studies are mainly based on the time series of stock price or the operation performance of listed company. In this paper, we propose to predict stock price based on investors' trading behavior. For each stock, we characterize the daily trading relationship among its investors using a trading network. We then classify the nodes of trading network into three roles according to their connectivity pattern. Strong Granger causality is found between stock price and trading relationship indices, i.e., the fraction of trading relationship among nodes with different roles. We further predict stock price by incorporating these trading relationship indices into a neural network based on time series of stock price. Experimental results on 51 stocks in two Chinese Stock Exchanges demonstrate the accuracy of stock price prediction is significantly improved by the inclusion of trading relationship indices.

  4. Pricing strategy for aesthetic surgery: economic analysis of a resident clinic's change in fees.

    Science.gov (United States)

    Krieger, L M; Shaw, W W

    1999-02-01

    The laws of microeconomics explain how prices affect consumer purchasing decisions and thus overall revenues and profits. These principles can easily be applied to the behavior aesthetic plastic surgery patients. The UCLA Division of Plastic Surgery resident aesthetics clinic recently offered a radical price change for its services. The effects of this change on demand for services and revenue were tracked. Economic analysis was applied to see if this price change resulted in the maximization of total revenues, or if additional price changes could further optimize them. Economic analysis of pricing involves several steps. The first step is to assess demand. The number of procedures performed by a given practice at different price levels can be plotted to create a demand curve. From this curve, price sensitivities of consumers can be calculated (price elasticity of demand). This information can then be used to determine the pricing level that creates demand for the exact number of procedures that yield optimal revenues. In economic parlance, revenues are maximized by pricing services such that elasticity is equal to 1 (the point of unit elasticity). At the UCLA resident clinic, average total fees per procedure were reduced by 40 percent. This resulted in a 250-percent increase in procedures performed for representative 4-month periods before and after the price change. Net revenues increased by 52 percent. Economic analysis showed that the price elasticity of demand before the price change was 6.2. After the price change it was 1. We conclude that the magnitude of the price change resulted in a fee schedule that yielded the highest possible revenues from the resident clinic. These results show that changes in price do affect total revenue and that the nature of these effects can be understood, predicted, and maximized using the tools of microeconomics.

  5. Industrial Pricing: Theory and Managerial Practice

    OpenAIRE

    Peter M. Noble; Thomas S. Gruca

    1999-01-01

    We organize the existing theoretical pricing research into a new two-level framework for industrial goods pricing. The first level consists of four pricing situations: New Product, Competitive, Product Line, and Cost-based. The second level consists of the pricing strategies appropriate for a given situation. For example, within the new product pricing situation, there are three alternative pricing strategies: Skim, Penetration, and Experience Curve pricing. There are a total of ten pricing s...

  6. Impact of External Price Referencing on Medicine Prices – A Price Comparison Among 14 European Countries

    Science.gov (United States)

    Leopold, Christine; Mantel-Teeuwisse, Aukje Katja; Seyfang, Leonhard; Vogler, Sabine; de Joncheere, Kees; Laing, Richard Ogilvie; Leufkens, Hubert

    2012-01-01

    Objectives: This study aims to examine the impact of external price referencing (EPR) on on-patent medicine prices, adjusting for other factors that may affect price levels such as sales volume, exchange rates, gross domestic product (GDP) per capita, total pharmaceutical expenditure (TPE), and size of the pharmaceutical industry. Methods: Price data of 14 on-patent products, in 14 European countries in 2007 and 2008 were obtained from the Pharmaceutical Price Information Service of the Austrian Health Institute. Based on the unit ex-factory prices in EURO, scaled ranks per country and per product were calculated. For the regression analysis the scaled ranks per country and product were weighted; each country had the same sum of weights but within a country the weights were proportional to its sales volume in the year (data obtained from IMS Health). Taking the scaled ranks, several statistical analyses were performed by using the program “R”, including a multiple regression analysis (including variables such as GDP per capita and national industry size). Results: This study showed that on average EPR as a pricing policy leads to lower prices. However, the large variation in price levels among countries using EPR confirmed that the price level is not only driven by EPR. The unadjusted linear regression model confirms that applying EPR in a country is associated with a lower scaled weighted rank (p=0.002). This interaction persisted after inclusion of total pharmaceutical expenditure per capita and GDP per capita in the final model. Conclusions: The study showed that for patented products, prices are in general lower in case the country applied EPR. Nevertheless substantial price differences among countries that apply EPR could be identified. Possible explanations could be found through a correlation between pharmaceutical industry and the scaled price ranks. In conclusion, we found that implementing external reference pricing could lead to lower prices. PMID

  7. Grain price spikes and beggar-thy-neighbor policy responses

    DEFF Research Database (Denmark)

    Jensen, Hans Grinsted; Anderson, Kym

    2017-01-01

    When prices spike in international grain markets, national governments often reduce the extent to which that spike affects their domestic food markets. Those actions exacerbate the price spike and international welfare transfer associated with that terms of trade change. Several recent analyses...... have assessed the extent to which those policies contributed to the 2006–08 international price rises but only by focusing on one commodity or by using a back-of-the envelope (BOTE) method. The present more comprehensive analysis uses a global, economy-wide model that is able to take account...... of the interactions between markets for farm products that are closely related in production and/or consumption and able to estimate the impacts of those insulating policies on grain prices and on the grain trade and economic welfare of the world's various countries. Our results support the conclusion from earlier...

  8. Grain price spikes and beggar-thy-neighbor policy responses

    DEFF Research Database (Denmark)

    Jensen, Hans Grinsted; Anderson, Kym

    When prices spike in international grain markets, national governments often reduce the extent to which that spike affects their domestic food markets. Those actions exacerbate the price spike and international welfare transfer associated with that terms of trade change. Several recent analyses...... have assessed the extent to which those policies contributed to the 2006-08 international price rise, but only by focusing on one commodity or using a back-of-the envelope (BOTE) method. This paper provides a more-comprehensive analysis using a global economy-wide model that is able to take account...... of the interactions between markets for farm products that are closely related in production and/or consumption, and able to estimate the impacts of those insulating policies on grain prices and on the grain trade and economic welfare of the world’s various countries. Our results support the conclusion from earlier...

  9. Enhancing medicine price transparency through price information mechanisms.

    Science.gov (United States)

    Hinsch, Michael; Kaddar, Miloud; Schmitt, Sarah

    2014-05-08

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

  10. Utilizing TOPSIS intensified with adjustment similarity factor to determine price of technology

    Directory of Open Access Journals (Sweden)

    Seyed Mohammad Seyedhosseini

    2012-08-01

    Full Text Available Technology transfer has been a very frequent activity in the industrial world nowadays. Technology valuation, and in particular technology pricing, has played a considerable role in these transactions, in spite of a huge amount of limitations in the pricing methodologies applied. Making a sound, traceable and reliable means for applying the price evaluation procedure, seems as a technological requirement to be traced for. The objective of delivering this paper is to introduce a new numerical technology pricing method to provide the two transacting parties a unique compromised price. A three-dimensional model for technology pricing is proposed and The TOPSPS algorithm has been utilized to select the most similar technologies to the intended one and the constructed scoring system is applied to calculate the final technology price accordingly.

  11. Spikes and memory in (Nord Pool) electricity price spot prices

    DEFF Research Database (Denmark)

    Proietti, Tomasso; Haldrup, Niels; Knapik, Oskar

    from the normal price, where the latter is defined as the expectation arising from a model accounting for long memory at the zero and at the weekly seasonal frequencies, given the knowledge of the past realizations. Hence, a spike is associated to a time series innovation with size larger than......Electricity spot prices are subject to transitory sharp movements commonly referred to as spikes. The paper aims at assessing their effects on model based inferences and predictions, with reference to the Nord Pool power exchange. We identify a spike as a price value which deviates substantially...... a specified threshold. The latter regulates the robustness of the estimates of the underlying price level and it is chosen by a data driven procedure that focuses on the ability to predict future prices. The normal price is computed by a modified Kalman filter, which robustifies the inferences by cleaning...

  12. Meeting competition through negotiated pricing

    International Nuclear Information System (INIS)

    Keith, D.M.; Raper, J.W.

    1990-01-01

    A fundamental premise of negotiated pricing as a demand-side management (DSM) tool is that price determines cost. As the ultimate objective of energy efficiency is to increase electromotive work while conserving resources, negotiated prices can have a significant impact as a DSM tool to force costs down. Three examples are offered of the effect of negotiated pricing as a DSM tool. The examples are a small hydroelectric company and an electric utility authority owned, a utility-to-customer example of negotiated pricing with the Public Service Company of Oklahoma's (PSO) system, and a large paper mill on PSO's system. Some of the major problems associated with negotiated pricing, outside of the human effort of finding and training knowledgeable and skilled negotiators, are: obtaining enough information about the customer or potential customer to be able to determine that in negotiating prices the utility is not giving away more benefits than the utility will gain; developing a pricing plan that fits both the customer's and utility's existing and potential future mode of operation; assuring that other customers who cannot negotiate on their own behalf are not adversely affected by utility revenue shortfalls; making such negotiated prices available to all similarly situated customers, so as not to inadvertently create unfair competitive advantages among them; and defining the shared benefits before and after the fact as a result of having negotiated prices in the first place

  13. Understanding gasoline pricing in Canada

    International Nuclear Information System (INIS)

    2001-04-01

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

  14. Volatility in energy prices

    International Nuclear Information System (INIS)

    Duffie, D.

    1999-01-01

    This chapter with 58 references reviews the modelling and empirical behaviour of volatility in energy prices. Constant volatility and stochastic volatility are discussed. Markovian models of stochastic volatility are described and the different classes of Markovian stochastic volatility model are examined including auto-regressive volatility, option implied and forecasted volatility, Garch volatility, Egarch volatility, multivariate Garch volatility, and stochastic volatility and dynamic hedging policies. Other volatility models and option hedging are considered. The performance of several stochastic volatility models as applied to heating oil, light oil, natural gas, electricity and light crude oil are compared

  15. Price of Prejudice

    DEFF Research Database (Denmark)

    Hedegaard, Morten; Tyran, Jean-Robert Karl

    2018-01-01

    We present a new type of field experiment to investigate ethnic prejudice in the workplace. Our design allows us to study how potential discriminators respond to changes in the cost of discrimination. We find that ethnic discrimination is common but highly responsive to the “price of prejudice”, i.......e. to the opportunity cost of choosing a less productive worker on ethnic grounds. Discriminators are on average willing to forego 8 percent of their earnings to avoid a co-worker of the other ethnic type. The evidence suggests that animus rather than statistical discrimination explains observed behavior....

  16. Prices and species diversity

    DEFF Research Database (Denmark)

    Sauer, Johannes

    . Based on a biologically defined species diver-sity index we incorporate biodiversity either as a desirable output or biodiversity loss as a detrimental input. Beside quantitative shadow price measures the main contribu-tion of the work is the evidence that parametric scores of environmental efficiency...... of biodiversity and the appropriate incorporation in stochastic fron-tier models to achieve more realistic measures of production efficiency. We use the empirical example of tobacco production drawing from as well as affecting species diversity in the surrounding forests. We apply a shadow profit distance...

  17. Priced Timed Automata

    DEFF Research Database (Denmark)

    Behrmann, Gerd; Larsen, Kim Guldstrand; Rasmussen, Jacob Illum

    2004-01-01

    This contribution reports on the considerable effort made recently towards extending and applying well-established timed automata technology to optimal scheduling and planning problems. The effort of the authors in this direction has to a large extent been carried out as part of the European...... projects VHS [22] and AMETIST [17] and are available in the recently released UPPAAL CORA [12], a variant of the real-time verification tool UPPAAL [20,5] specialized for cost-optimal reachability for the extended model of priced timed automata....

  18. Modelling the impact of oil prices on Vietnam's stock prices

    International Nuclear Information System (INIS)

    Narayan, Paresh Kumar; Narayan, Seema

    2010-01-01

    The goal of this paper is to model the impact of oil prices on Vietnam's stock prices. We use daily data for the period 2000-2008 and include the nominal exchange rate as an additional determinant of stock prices. We find that stock prices, oil prices and nominal exchange rates are cointegrated, and oil prices have a positive and statistically significant impact on stock prices. This result is inconsistent with theoretical expectations. The growth of the Vietnamese stock market was accompanied by rising oil prices. However, the boom of the stock market was marked by increasing foreign portfolio investment inflows which are estimated to have doubled from US$0.9 billion in 2005 to US$1.9 billion in 2006. There was also a change in preferences from holding foreign currencies and domestic bank deposits to stocks local market participants, and there was a rise in leveraged investment in stock as well as investments on behalf of relatives living abroad. It seems that the impact of these internal and domestic factors were more dominant than the oil price rise on the Vietnamese stock market. (author)

  19. Pricing and reimbursement of pharmaceuticals in the Czech Republic and Sweden.

    Science.gov (United States)

    Davidova, Jana; Praznovcova, Lenka; Lundborg, Cecilia Stålsby

    2008-01-01

    To describe and compare price regulation and reimbursement in the Czech Republic and Sweden. Legal documents, government reports, statutory information, annual reports and scientific articles were searched using the keywords: pharmaceutical market regulation, drug policy, drug pricing, drug reimbursement and patients' participation in costs concerning both countries. Approaches to regulation and regulatory steps concerning prices were compared between the countries. (i) Institutional responsibilities in pricing and reimbursement of pharmaceuticals; (ii) principles of patients' participation in costs on pharmaceuticals. Substantial differences were found in terms of pricing. In the Czech Republic, the Ministry of Finance sets maximal prices for pharmaceuticals whereas in Sweden there is a process of price regulation combined with reimbursement decisions taken by the Pharmaceutical Benefits Board. Together with a system of state-owned pharmacies, this ensures that drug prices in Sweden are fixed at the same level throughout the country. In the Czech Republic, prices may differ, since only maximal price levels are set. In both countries, decisions about reimbursement are taken at the national or state level whereas insurance funds or county councils are responsible for covering costs. The private share of pharmaceutical expenditures is substantially lower in the Czech Republic, even though there is no maximal level for patient's co-payment, as there is in Sweden. Differences in price setting and some other regulations of the pharmaceutical market were found. Both systems are designed to promote rational use of pharmaceuticals; and are based on social solidarity.

  20. Technology Transfer and its effect on Innovation

    OpenAIRE

    Sen, Neelanjan

    2014-01-01

    This paper analyses technology transfer and innovation activities by the high cost firm in a Cournot duopoly framework, where technology transfer between the firms may occur after the innovation decision. The two effects of innovation are to access the superior technology of the low cost firm if higher cost prohibits technology transfer and to affect the pricing rule of technology transfer via higher bargaining power. The incentive for innovation is more in fixed-fee licensing than in two-par...

  1. 38 CFR 36.4377 - Transfer of insured loans.

    Science.gov (United States)

    2010-07-01

    ... purchase price, whichever is the lesser. (b) Transfers between insurance accounts in a manner or under... 38 Pensions, Bonuses, and Veterans' Relief 2 2010-07-01 2010-07-01 false Transfer of insured loans... Transfer of insured loans. (a) In cases involving the transfer from one insured financial institution to...

  2. TOURISM MARKET: PRICING ISSUES

    Directory of Open Access Journals (Sweden)

    Irina A. Kiseleva

    2016-01-01

    Full Text Available Article retractedThe article is devoted to the actual topic of our time - the development of tourism services. The development of tourism is the leading technology trend dynamics maroon economic caused social restructuring of modern society. Macroeconomic Financial Statistics conrms the minimum amplitude of cyclical uctuations in the service sector, which turns it into countercyclical tool. In the Russian Federation the economic problem of a state policy in the sphere of tourist services is defined - to having turned tourism in competitive, innovative, countercyclical, and highly protable sector of national business. In article pricing factors are dened and are dened key of them, responsible for the cost of a tourist product. This work answers such questions of travel company as: denition of optimum group, formation of a transport tariff, structure of a tourist product on the main and accompanying services and their range, ways of sale. A practical advice by calculation of expenses is given. Correlation and regression and cluster analyses acted as research tools when performing work. In article the conclusion is drawn that the main methods of marketing management of pricing in the market of tourist services are: transition to the unified technology of granting a service on the basis of ISO; intensication and integration of the sphere of production and services

  3. Pricing hazardous substance emissions

    Energy Technology Data Exchange (ETDEWEB)

    Staring, Knut; Vennemo, Haakon

    1997-12-31

    This report discusses pricing of emissions to air of several harmful substances. It combines ranking indices for environmentally harmful substances with economic valuation data to yield price estimates. The ranking methods are discussed and a relative index established. Given the relative ranking of the substances, they all become valued by assigning a value to one of them, the `anchor` substance, for which lead is selected. Valuations are provided for 19 hazardous substances that are often subject to environmental regulations. They include dioxins, TBT, etc. The study concludes with a discussion of other categories of substances as well as uncertainties and possible refinements. When the valuations are related to CO, NOx, SOx and PM 10, the index system undervalues these pollutants as compared to other studies. The scope is limited to the outdoor environment and does not include global warming and eutrophication. The indices are based on toxicity and so do not apply to CO{sub 2} or other substances that are biologically harmless. The index values are not necessarily valid for all countries and should be considered as preliminary. 18 refs., 6 tabs.

  4. Projections of the energy prices

    International Nuclear Information System (INIS)

    Jankauskas, V.

    1996-01-01

    This article deals with the trends of the main fuel prices development in the Western European markets. There are two possible price development scenarios presented in the article. Transportation costs of various internationally traded fuels from various sources (Russia, Western Europe) are estimated and their most feasible values are considered. Fuel prices for the final big consumers are calculated adding the domestic distribution costs. Trends of heat and electricity price development in Lithuania during the period of 1991-1995 are analyzed. Forecasts of the electricity generation and supply costs are calculated according to various scenarios. Electricity prices will be lowest in the case of the further operation of the Ignalina NPP and low fuel prices in international markets. (author). 8 refs., 14 figs., 4 tabs

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

    International Nuclear Information System (INIS)

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

    2017-01-01

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

  6. Cordon Pricing Considering Air Pollutants Emission

    Directory of Open Access Journals (Sweden)

    Shahriar Afandizadeh

    2016-04-01

    Full Text Available This paper considers the issue of air pollutants emission for the optimal and sustainable determination of cordon location, toll level, and price of park and ride (P&R. Although air pollutants emission decreases within the cordon by the implementation of cordon pricing scheme, it may increase outside the cordon and the whole network. Hence, air pollutants emission may only transfer from inside of the cordon to its outside. Therefore, in this paper, a multi-objective bi-level optimization model is developed. A solution algorithm is also presented based on the second version of strength Pareto evolutionary algorithm (SPEA2. The results reveal that this multi-objective model can be a useful tool for the sustainable and optimal design of the cordon and P&R scheme. In addition, cordon pricing is a multi-objective problem. Therefore, it is necessary to consider air pollutants emission. By choosing another non-dominated result in the solution space, air pollutants emission outside the cordon and the whole network can be reduced without a significant reduction in social welfare.

  7. Differentiation of Electricity Prices: Role of Space and Institutions

    Directory of Open Access Journals (Sweden)

    Olga Valeryevna Dyomina

    2016-03-01

    Full Text Available The article discusses the empirical material based features of the functioning of spatially distributed power systems and the relevant markets in the «big» countries: Russia, USA, Canada and China. The following hypothesis are tested: 1 - inter-territorial differentiation of electricity prices is not an exclusive phenomenon of the industrial market failure in Russia, but describes the common pattern of the electricity market in the «big» countries; 2 - the formation of the institute of price discrimination of power consumers is caused by objective reasons (it has an objective character. It is shown that the objective differentiation of geographic conditions of the electrical energy generation, distribution and consumption in the «big» countries determines the presence of markets multiplicity, accompanied by prices levels multiplicity caused by multiple levels of production cost and electricity transmission, which is contrary to the principles of market competitiveness and social equity. The resolution of this contradiction in all countries above breeds preservation and even the strengthening of state electricity price regulation in the form of cross-subsidization. Cross-subsidization leads to price discrimination of consumers, forms of which vary depending on the institutional conditions that determine the specific mechanism and purpose of such discrimination: in Russia and in China - between groups of consumers; in the United States - between customers of different states; in Canada - existence in most provinces of vertically integrated companies which suggests the presence of price discrimination of electricity consumers

  8. Costly Credit and Sticky Prices

    OpenAIRE

    Lucy Qian Liu; Liang Wang; Randall Wright

    2015-01-01

    We construct a model where money and credit are alternative payment instruments, use it to analyze sluggish nominal prices, and confront the data. Equilibria entail price dispersion, where sellers set nominal terms that they may keep fixed when aggregate conditions change. Buyers use cash and credit, with the former (latter) subject to inflation (transaction costs). We provide strong analytic results and exact solutions for money demand. Calibrated versions match price-change data well, with ...

  9. Nonlinear Pricing to Produce Information

    OpenAIRE

    David J. Braden; Shmuel S. Oren

    1994-01-01

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

  10. Essays in Empirical Asset Pricing

    DEFF Research Database (Denmark)

    Rzeznik, Aleksandra

    This thesis consists of three essays investigating financial and real estate markets and identifying a relationship between them. A 2008 financial crises provides a perfect example of sizeable interactions between US housing market and equity prices, where a negative shock to house prices trigger...... a word-wide recession. Therefore, understanding forces driving investors behaviour and preferences, which in turn affect asset prices in both equity and housing market are of great interest....

  11. Dynamic Pricing in Competitive Markets

    OpenAIRE

    Nakhe, Paresh

    2017-01-01

    Dynamic pricing of goods in a competitive environment to maximize revenue is a natural objective and has been a subject of research over the years. In this paper, we focus on a class of markets exhibiting the substitutes property with sellers having divisible and replenishable goods. Depending on the prices chosen, each seller observes a certain demand which is satisfied subject to the supply constraint. The goal of the seller is to price her good dynamically so as to maximize her revenue. Fo...

  12. Has food price volatility risen?

    OpenAIRE

    Christopher Gilbert; Wyn Morgan

    2010-01-01

    The high food prices experienced over recent years have led to the widespread view that food price volatility has increased. However, volatility has generally been lower over the two most recent decades than previously. Variability over the most recent period has been high but, with the important exception of rice, not out of line with historical experience. There is weak evidence that the volatility of grains and vegetable oils prices may be increasing but it is too early to make a definite ...

  13. Life cycle costing of waste management systems: Overview, calculation principles and case studies

    DEFF Research Database (Denmark)

    Martinez Sanchez, Veronica; Kromann, Mikkel A.; Astrup, Thomas Fruergaard

    2015-01-01

    This paper provides a detailed and comprehensive cost model for the economic assessment of solid waste management systems. The model was based on the principles of Life Cycle Costing (LCC) and followed a bottom-up calculation approach providing detailed cost items for all key technologies within...... a specific technology, while scenario costs were the sum of all technologies involved in a scenario. The cost model allows for the completion of three types of LCC: a Conventional LCC, for the assessment of financial costs, an Environmental LCC, for the assessment of financial costs whose results...... regarding the cost assessment of waste management, namely system boundary equivalency, accounting for temporally distributed emissions and impacts, inclusions of transfers, the internalisation of environmental impacts and the coverage of shadow prices, and there was also significant confusion regarding...

  14. Producers give prices a boost

    International Nuclear Information System (INIS)

    Anon.

    1992-01-01

    Uranium producers came alive in August, helping spot prices crack the $8.00 barrier for the first time since March. The upper end of NUKEM's price range actually finished the month at $8.20. Scrambling to fulfill their long-term delivery contracts, producers dominate the market. In the span of three weeks, five producers came out for 2 million lbs U3O8, ultimately buying nearly 1.5 million lbs. One producer accounted for over half this volume. The major factor behind rising prices was that producers required specific origins to meet contract obligations. Buyers willing to accept open origins created the lower end of NUKEM's price range

  15. Price Strategies in Banking Marketing

    Directory of Open Access Journals (Sweden)

    Iuliana Cetina

    2007-01-01

    Full Text Available All organizations must settle a price for the services they offer. The price for services is an important element of the marketing mix, being an important income source for the organization. The settlement of a correct price, both for the market and the competition, is a significant element for the sector of financial - banking services. Another important factor to take into consideration is the fact that the banks do not settle only the prices for individual services, but also coordinate their prices for service packages. As the competition in the financial - banking services has intensified, the settlement of correct prices has become an essential element for the marketing strategy. Nevertheless it is important to remind that the price is not a central element. There are other significant grounds, the price being only one of the elements of the marketing mix. Although in Romania many customers may be sensitive in present to the price, as the competition will increase, the quality of the services will become more important to the customers, and the demand will be complex.

  16. Price setting in turbulent times

    DEFF Research Database (Denmark)

    Ólafsson, Tjörvi; Pétursdóttir, Ásgerdur; Vignisdóttir, Karen Á.

    in the domestic market by their direct exposure to exchange rate movements captured by imported input costs as a share of total p duction costs. More exposed firms are found to be more likely to use state-dependent pricing, to adjust their prices in response to exchange rate changes, and to rely on increasing......-dependent pricing increases as domestic labour costs rise relative to total production costs. The results provide important insight into inflation dynamics due to an interaction between high and asymmetric exchange rate pass-through and price indexation. This interaction causes an exchange rate depreciation...

  17. ISSUES ON THE ROLE OF EFFICIENT WATER PRICING FOR SUSTAINABLE WATER MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Simona FRONE

    2012-06-01

    Full Text Available This paper aims to highlight some of the main issues raised by developing and implementing the most appropriate approach to water pricing, and to induce a sustainable water management. Therefore, we define the concept and utility of water demand management as one objective of efficient water pricing. Next we analyse the basic economics and some important theoretical insights of water pricing. We further with state the main four inter-correlated principles of sustainable water pricing (full-cost recovery, economic efficiency,equity and administrative feasability and the trends and challenges of their actual implementing in the water pricing policy of Romania and other EU countries. We end with a review of opinions, personal conclusions and recommendations on the actual opportunity, effectiveness and role of efficient water pricing in fulfilling the goals of sustainabilty.

  18. The impact of gasoline price fluctuations on lodging demand for US brand hotels

    Energy Technology Data Exchange (ETDEWEB)

    Walsh, Kate; Enz, Cathy A.; Canina, Linda [Cornell Univ., School of Hotel Administration, Ithaca, NY (United States)

    2004-12-01

    Analyzing US brand hotels, over a 13-year period, this study provides empirical evidence of a significant negative relationship between gasoline prices and demand for certain lodging products, controlling for economic factors (i.e. gross domestic product and population density). Applying principles from microeconomic demand theory to the literature on gasoline price elasticities, consumer demographics and lodging demand, a set of hypotheses were devised to test the relationship between gasoline prices and lodging demand for specific hotel locations and price segments. Using fixed effects models, the results reveal that lodging demand decreases as gasoline prices rise in all segments except upper-upscale and all locations except urban areas. Hotels in midscale without food and beverage and economy market segments, in resort, suburban and highway locations, exhibit the greatest association between gasoline price shifts and demand. Implications of these findings are discussed for both hospitality research and practice. (Author)

  19. The impact of gasoline price fluctuations on lodging demand for US brand hotels

    International Nuclear Information System (INIS)

    Walsh, Kate; Enz, Cathy A.; Canina, Linda

    2004-01-01

    Analyzing US brand hotels, over a 13-year period, this study provides empirical evidence of a significant negative relationship between gasoline prices and demand for certain lodging products, controlling for economic factors (i.e. gross domestic product and population density). Applying principles from microeconomic demand theory to the literature on gasoline price elasticities, consumer demographics and lodging demand, a set of hypotheses were devised to test the relationship between gasoline prices and lodging demand for specific hotel locations and price segments. Using fixed effects models, the results reveal that lodging demand decreases as gasoline prices rise in all segments except upper-upscale and all locations except urban areas. Hotels in midscale without food and beverage and economy market segments, in resort, suburban and highway locations, exhibit the greatest association between gasoline price shifts and demand. Implications of these findings are discussed for both hospitality research and practice. (Author)

  20. Exchange rates, petroleum prices and price determination in Sierra ...

    African Journals Online (AJOL)

    The Sierra Leone economy is a net importer with a chronic negative balance of trade and imports as a percentage of GDP averaged 40.75 per cent between 2001 and 2010. This study determined the effects of monetary environment, exchange rate movement and petroleum prices on domestic prices in Sierra Leone by ...

  1. Modeling the Effect of Oil Price on Global Fertilizer Prices

    NARCIS (Netherlands)

    P-Y. Chen (Ping-Yu); C-L. Chang (Chia-Lin); C-C. Chen (Chi-Chung); M.J. McAleer (Michael)

    2010-01-01

    textabstractThe main purpose of this paper is to evaluate the effect of crude oil price on global fertilizer prices in both the mean and volatility. The endogenous structural breakpoint unit root test, the autoregressive distributed lag (ARDL) model, and alternative volatility models, including the

  2. Consumer food choices: the role of price and pricing strategies.

    Science.gov (United States)

    Steenhuis, Ingrid H M; Waterlander, Wilma E; de Mul, Anika

    2011-12-01

    To study differences in the role of price and value in food choice between low-income and higher-income consumers and to study the perception of consumers about pricing strategies that are of relevance during grocery shopping. A cross-sectional study was conducted using structured, written questionnaires. Food choice motives as well as price perceptions and opinion on pricing strategies were measured. The study was carried out in point-of-purchase settings, i.e. supermarkets, fast-food restaurants and sports canteens. Adults (n 159) visiting a point-of-purchase setting were included. Price is an important factor in food choice, especially for low-income consumers. Low-income consumers were significantly more conscious of value and price than higher-income consumers. The most attractive strategies, according to the consumers, were discounting healthy food more often and applying a lower VAT (Value Added Tax) rate on healthy food. Low-income consumers differ in their preferences for pricing strategies. Since price is more important for low-income consumers we recommend mainly focusing on their preferences and needs.

  3. Transfer payments in global climate policy

    Science.gov (United States)

    Landis, Florian; Bernauer, Thomas

    2012-08-01

    Many scientists and policymakers agree that large financial flows from richer to poorer countries will be necessary to reach an agreement on reducing greenhouse-gas emissions enough to keep global warming below 2°C. But the required amounts of transfer payments and justifications for them remain contested. We contribute to this debate by developing an argument for transfer payments that derives from the differences between carbon prices that different countries may set in light of two distinct criteria for appropriate levels of emission reductions. If, for reasons of cost efficiency, a globally uniform carbon price was installed, transfer payments would be required to offset these differences. We combine global climate modelling with regional welfare analysis to estimate regional carbon prices under various climate change, emissions and economic scenarios. The estimated ratios between regional carbon prices are surprisingly robust to different modelling assumptions. To the extent that burden-sharing choices in global climate policy are motivated by regional carbon prices, our analysis allows for a quantification of required transfer payments. Assuming a global carbon price of US$35 per tCO2, for example, our estimates would justify transfer payments of the order of US$15-48 billion per year.

  4. Construction principles of prevention programs for adolescents

    OpenAIRE

    A.A. Bochaver; T.V. Tretyakova

    2014-01-01

    We present the basic principles for the development of effective programs for prevention of substance abuse among young people employed in the United States. They are based on the model of “risk factors and protective factors” and suggest a consistent, systematic, coordinated deployment of preventive interventions for children of different ages and in different social contexts (individually, in family, at school, in community). These principles can be useful for transfer of foreign experience...

  5. Airport Pricing Strategies

    Science.gov (United States)

    Pels, Eric; Verhoef, Erik T.

    2003-01-01

    Conventional economic wisdom suggests that congestion pricing would be an appropriate response to cope with the growing congestion levels currently experienced at many airports. Several characteristics of aviation markets, however, may make naive congestion prices equal to the value of marginal travel delays a non-optimal response. This paper has developed a model of airport pricing that captures a number of these features. The model in particular reflects that airlines typically have market power and are engaged in oligopolistic competition at different sub-markets; that part of external travel delays that aircraft impose are internal to an operator and hence should not be accounted for in congestion tolls. We presented an analytical treatment for a simple bi-nodal symmetric network, which through the use of 'hyper-networks' would be readily applicable to dynamic problems (in discrete time) such as peak - off-peak differences, and some numerical exercises for the same symmetric network, which was only designed to illustrate the possible comparative static impacts of tolling, in addition to marginal equilibrium conditions as could be derived for the general model specification. Some main conclusions are that second-best optimal tolls are typically lower than what would be suggested by congestion costs alone and may even be negative, and that the toll as derived by Brueckner (2002) may not lead to an increase in total welfare. While Brueckner (2002) has made clear that congestion tolls on airports may be smaller than expected when congestion costs among aircraft are internal for a firm, our analysis adds to this that a further downward adjustment may be in order due to market power. The presence of market power (which causes prices to exceed marginal costs) may cause the pure congestion toll to be suboptimal, because the resulting decrease in demand is too high (the pure congestion tall does not take into account the decrease in consumer surplus). The various

  6. The oil barrel price

    International Nuclear Information System (INIS)

    Blondy, J.; Papon, P.

    2009-01-01

    This paper proposes an overview and a prospective glance on the oil barrel price. It indicates the relevant indicators: Brent quotation, euro/dollar parity, economic activity indicators, world oil consumption distribution, crude oil production, refining capacity. It briefly presents the involved stake holders: crude oil producers, oil refiners, refined product dealers, and the OPEC. It discusses the major retrospective trends: evolution in relationship with geopolitical events and energy policies, strong correlation between oil demand and economic growth, prevalence of OPEC, growing importance of national oil companies. An emerging trend is noticed: growing role of emerging countries on the crude market. Some prospective issues are discussed: duration and intensity of economic recession, separation between economic growth and energy consumption, pace and ambition level of policies of struggle against climate change, exploitable resources, and geopolitical hazards. Four evolution hypotheses are discussed

  7. 78 FR 33475 - Core Principles and Other Requirements for Swap Execution Facilities

    Science.gov (United States)

    2013-06-04

    ... Mandatory Clearing 3. Subpart D--Core Principle 3 (Swaps Not Readily Susceptible to Manipulation) 4. Subpart... broader universe of market participants receive pricing and volume information by providing such...

  8. An empirical examination of restructured electricity prices

    International Nuclear Information System (INIS)

    Knittel, C.R.; Roberts, M.R.

    2005-01-01

    We present an empirical analysis of restructured electricity prices. We study the distributional and temporal properties of the price process in a non-parametric framework, after which we parametrically model the price process using several common asset price specifications from the asset-pricing literature, as well as several less conventional models motivated by the peculiarities of electricity prices. The findings reveal several characteristics unique to electricity prices including several deterministic components of the price series at different frequencies. An 'inverse leverage effect' is also found, where positive shocks to the price series result in larger increases in volatility than negative shocks. We find that forecasting performance in dramatically improved when we incorporate features of electricity prices not commonly modelled in other asset prices. Our findings have implications for how empiricists model electricity prices, as well as how theorists specify models of energy pricing. (author)

  9. Option price and market instability

    Science.gov (United States)

    Baaquie, Belal E.; Yu, Miao

    2017-04-01

    An option pricing formula, for which the price of an option depends on both the value of the underlying security as well as the velocity of the security, has been proposed in Baaquie and Yang (2014). The FX (foreign exchange) options price was empirically studied in Baaquie et al., (2014), and it was found that the model in general provides an excellent fit for all strike prices with a fixed model parameters-unlike the Black-Scholes option price Hull and White (1987) that requires the empirically determined implied volatility surface to fit the option data. The option price proposed in Baaquie and Cao Yang (2014) did not fit the data during the crisis of 2007-2008. We make a hypothesis that the failure of the option price to fit data is an indication of the market's large deviation from its near equilibrium behavior due to the market's instability. Furthermore, our indicator of market's instability is shown to be more accurate than the option's observed volatility. The market prices of the FX option for various currencies are studied in the light of our hypothesis.

  10. Housing Price Volatility and Econometrics

    Czech Academy of Sciences Publication Activity Database

    Sunega, Petr; Lux, Martin; Zemčík, Petr

    2014-01-01

    Roč. 1, č. 2 (2014), s. 70-78 ISSN 2336-2839 R&D Projects: GA ČR(CZ) GAP404/12/1446 Institutional support: RVO:68378025 ; RVO:67985998 Keywords : econometrics * housing prices * price bubbles Subject RIV: AO - Sociology, Demography

  11. Understanding international commodity price fluctuations

    NARCIS (Netherlands)

    Arezki, Rabah; Loungani, Prakash; van der Ploeg, Rick; Venables, Anthony J.

    An overview is provided of recent work on commodity prices, focusing on three themes: (i) "financialization" of commodity markets--commodities being considered by financial investors as a distinct asset class, (ii) trends and forecasts of commodity prices, and (iii) fracking-a shorthand for the

  12. The true Price of Chocolate?

    NARCIS (Netherlands)

    Ingram, V.J.; Chocoloney, T.

    2015-01-01

    Chocolate prices generally do not incorporate many of the environmental and social externalities, costs which are incurred as the main ingredients such as cocoa and sugar move from farms, to factories to consumers. Nor do prices reflect the benefits of non-conventional production and alternative

  13. Price Discrimination: Lessons for Consumers.

    Science.gov (United States)

    Maynes, E. Scott

    1990-01-01

    Explains price and product discrimination, showing how intelligent consumers can achieve increased purchasing power of their income and discusses how consumer educators can explain this discrimination. Evaluates the pros and cons of price/product discrimination from the social viewpoint. (Author/JOW)

  14. Reciprocity, World Prices and Welfare

    DEFF Research Database (Denmark)

    Raimondos-Møller, Pascalis; Woodland, Alan D.

    it is possible to find tariff reforms that are consistent with both reciprocity and constant world prices, these reforms do not follow from the reciprocity condition, but rather from the requirement of unchanged world prices. We propose an alternative reciprocity rule that is guaranteed to raise the welfare...

  15. Ethnic diversity deflates price bubbles.

    Science.gov (United States)

    Levine, Sheen S; Apfelbaum, Evan P; Bernard, Mark; Bartelt, Valerie L; Zajac, Edward J; Stark, David

    2014-12-30

    Markets are central to modern society, so their failures can be devastating. Here, we examine a prominent failure: price bubbles. Bubbles emerge when traders err collectively in pricing, causing misfit between market prices and the true values of assets. The causes of such collective errors remain elusive. We propose that bubbles are affected by ethnic homogeneity in the market and can be thwarted by diversity. In homogenous markets, traders place undue confidence in the decisions of others. Less likely to scrutinize others' decisions, traders are more likely to accept prices that deviate from true values. To test this, we constructed experimental markets in Southeast Asia and North America, where participants traded stocks to earn money. We randomly assigned participants to ethnically homogeneous or diverse markets. We find a marked difference: Across markets and locations, market prices fit true values 58% better in diverse markets. The effect is similar across sites, despite sizeable differences in culture and ethnic composition. Specifically, in homogenous markets, overpricing is higher as traders are more likely to accept speculative prices. Their pricing errors are more correlated than in diverse markets. In addition, when bubbles burst, homogenous markets crash more severely. The findings suggest that price bubbles arise not only from individual errors or financial conditions, but also from the social context of decision making. The evidence may inform public discussion on ethnic diversity: it may be beneficial not only for providing variety in perspectives and skills, but also because diversity facilitates friction that enhances deliberation and upends conformity.

  16. Price as indicator for quality?

    DEFF Research Database (Denmark)

    Nielsen, Jørgen Ulff-Møller; Hansen, Jørgen Drud

    This paper examines the relation between price differences and quality differences in an oligopoly model with intra-industry trade, where goods are horizontally as well as vertically differentiated. The analysis demonstrates that the ratio of prices is not linked to the ratio of qualities in any...

  17. Oil price and the dollar

    International Nuclear Information System (INIS)

    Coudert, V.; Mignon, V.; Penot, A.

    2007-01-01

    Oil prices and the United States (US) dollar exchange rate are driving the evolution of the world economy. This paper investigated long-term relationships between oil prices and the US effective exchange rate. An empirical study was performed on oil prices and the dollar real effective exchange rate between 1974 to 2004. The impact of the dollar exchange rate was also explored, and the effects of oil prices on supply and demand were considered. A dynamic partial equilibrium framework study was evaluated in order to compare how other countries used revenues from oil exports in dollars. The study showed that both variables had similar evolutions when price fluctuations were low. Strong increases in the dollar were associated with lower oil prices. However, adjustment speeds of the dollar real effective exchange rate was slow. Co-integration and causality tests showed that oil prices influenced the exchange rate, and that the link between the 2 variables was transmitted through the country's net foreign asset position. It was concluded that higher oil prices improved US net foreign asset position in relation to other countries, and had a positive impact on dollar appreciation. 24 refs., 6 tabs., 1 fig

  18. Regime jumps in electricity prices

    NARCIS (Netherlands)

    R. Huisman (Ronald); R.J. Mahieu (Ronald)

    2003-01-01

    textabstractMany countries are liberalizing their energy markets. Participants in these markets are exposed to market risk due to the characteristics of electricity price dynamics. Electricity prices are known to be mean-reverting very volatile and subject to frequent spikes. Models that describe

  19. Coinsurance effects on dental prices.

    Science.gov (United States)

    Grembowski, D; Conrad, D A

    1986-01-01

    For many Americans the cost of dental services represents a barrier to receiving regular dental care and maintaining proper oral health. The recent growth of the dental insurance industry, however, may partly offset this price barrier among insureds. Our purpose is to examine the relationship between coinsurance and dental prices for 16 dental services among a sample of Pennsylvania Blue Shield (PBS) adult insureds. The dependent price measure is the annual average gross price paid for 16 specific preventive, restorative, periodontic, endodontic, prosthodontic, and surgical dental services. Independent variables in the price model include the insured's age, education, coinsurance rates, time costs, market area, non-wage income, oral health status, area dentist-population ratio and usual source of care. Data sources are 1980 PBS claims and coinsurance rate data and a mail survey of sampled insureds. OLS regression analysis reveals that the model's independent variables explain little dental price variation. No variable is consistently significant across services, but market area, coinsurance rates, and time costs alternately dominate across equations. These results suggest that, among adult insureds, coinsurance and time costs influence dental fees in a minority of dental services. Insurance reduces the patient's sensitivity to money price, and non-price factors correspondingly seem to become more important in patient search.

  20. Pricing strategies for information goods

    Indian Academy of Sciences (India)

    R. Narasimhan (Krishtel eMaging) 1461 1996 Oct 15 13:05:22

    advent of e-commerce has increased the popularity of versioning as a strategic tool: One can pay $29·95 for an online subscription to the Wall Street Journal if one also buys the print edition, or pay a higher price for the online version only. Pricing of different versions of information goods would depend on how and why the.

  1. Price and distribution policies in healthcare marketing in Romania

    Science.gov (United States)

    Coculescu, BI; Coculescu, EC; Purcărea, VL

    2017-01-01

    There is a principle similar to the theory of exchange in the marketing of health services, meaning that what is delivered to the target market (i.e. the beneficiaries) must be equal to or greater than what is to be received (i.e. the price). The price level in the marketing mix is influenced by how the consumer perceives the respective medical service and is quantified in the profit and the turnover of the organization respectively. The cost of the medical act as a whole is the value of all the tangible and intangible variables associated with it, and the planning, distribution and promotion of the product must be taken into account in the price setting. PMID:28616091

  2. Price and distribution policies in healthcare marketing in Romania.

    Science.gov (United States)

    Coculescu, B I; Coculescu, E C; Purcărea, V L

    2017-01-01

    There is a principle similar to the theory of exchange in the marketing of health services, meaning that what is delivered to the target market (i.e. the beneficiaries) must be equal to or greater than what is to be received (i.e. the price). The price level in the marketing mix is influenced by how the consumer perceives the respective medical service and is quantified in the profit and the turnover of the organization respectively. The cost of the medical act as a whole is the value of all the tangible and intangible variables associated with it, and the planning, distribution and promotion of the product must be taken into account in the price setting.

  3. Wind energy and electricity prices. Exploring the 'merit order effect'

    International Nuclear Information System (INIS)

    Morthost, P.E.; Ray, S.; Munksgaard, J.; Sinner, A.F.

    2010-04-01

    This report focuses on the effect of wind energy on the electricity price in the power market. As the report will discuss, adding wind into the power mix has a significant influence on the resulting price of electricity, the so called merit order effect (MOE). The merit order effect has been quantified and discussed in many scientific publications. This report ends the first phase of a study on the MOE, evaluating the impact of EWEA's 2020 scenarios on future European electricity prices. The basic principles of the merit order effect are provided in the first part of the document. The literature review itself contains methods and tools not only to quantify the merit order effect but also in order to forecast its future range and volume.

  4. Heat and mass transfer

    CERN Document Server

    Baehr, Hans Dieter

    2011-01-01

    This comprehensive textbook provides a solid foundation of knowledge on the principles of heat and mass transfer and shows how to solve problems by applying modern methods. The basic theory is developed systematically, exploring in detail the solution methods to all important problems.   The thoroughly revised 3rd edition includes an introduction to the numerical solution of Finite Elements. A new section on heat and mass transfer in porous media has also been added.   The book will be useful not only to upper-level and graduate students, but also to practicing scientists and engineers, offering a firm understanding of the principles of heat and mass transfer, and showing how to solve problems by applying modern methods. Many completed examples and numerous exercises with solutions facilitate learning and understanding, and an appendix includes data on key properties of important substances.

  5. The Preference for Round Number Prices

    OpenAIRE

    Klumpp, Joni M.; Brorsen, B. Wade; Anderson, Kim B.

    2005-01-01

    This study determines if a preference for round prices exists in the wheat market and how wheat sales react to price movements around whole dollar amounts. The results show round prices are slightly more prevalent than non-round prices and that transactions increase when price moves above a whole dollar amount.

  6. Weighted south-wide average pulpwood prices

    Science.gov (United States)

    James E. Granskog; Kevin D. Growther

    1991-01-01

    Weighted average prices provide a more accurate representation of regional pulpwood price trends when production volumes valy widely by state. Unweighted South-wide average delivered prices for pulpwood, as reported by Timber Mart-South, were compared to average annual prices weighted by each state's pulpwood production from 1977 to 1986. Weighted average prices...

  7. Is College Pricing Power Pro-Cyclical?

    Science.gov (United States)

    Altringer, Levi; Summers, Jeffrey

    2015-01-01

    We define pricing power as a college's ability to increase its net tuition revenue by raising its sticker-price for tuition. The greater is the positive effect of sticker-price increases on net tuition revenue, the greater is the pricing power. We gauge variation in the pricing power of private, non-profit baccalaureate colleges by estimating this…

  8. Studi Banding Penyusunan Laporan Keuangan Dengan Metode Historical Cost Accounting Dan General Price Level Accounting Pada Masa Inflasi

    OpenAIRE

    Kodrat, David Sukardi

    2006-01-01

    Generally, Financial Statements are based on Historical Cost Accounting (HCA) that assumes that prices are stable. Actually, there are several methods on accounting for the effect of changing prices, such as Current Cost Accounting (Replacement Cost Accounting) and Constant Dollar Accounting or General Price Level Accounting (GPLA)). GPLA will do restatement the components of financial statement to be a rupiah on a similar level of purchasing power, but without changes in accounting principle...

  9. STUDI BANDING PENYUSUNAN LAPORAN KEUANGAN DENGAN METODE HISTORICAL COST ACCOUNTING DAN GENERAL PRICE LEVEL ACCOUNTING PADA MASA INFLASI

    OpenAIRE

    David Sukardi Kodrat

    2006-01-01

    Generally, Financial Statements are based on Historical Cost Accounting (HCA) that assumes that prices are stable. Actually, there are several methods on accounting for the effect of changing prices, such as Current Cost Accounting (Replacement Cost Accounting) and Constant Dollar Accounting or General Price Level Accounting (GPLA)). GPLA will do restatement the components of financial statement to be a rupiah on a similar level of purchasing power, but without changes in accounting principle...

  10. Poverty, Policy and Price Transmission

    DEFF Research Database (Denmark)

    Elleby, Christian

    This thesis consists of four self-contained chapters in which different aspects of the relationship between international commodity markets and domestic food markets are explored. What motivates the analysis is the recent surge in international commodity prices and the controversy over the poverty...... of the real food price process based on which dynamic forecasts and historical decompositions are calculated. Results indicate that, despite the low degree of pass-through from international to domestic rice prices, food prices in general grew as fast as expected or faster, given the surge...... impact of the 2007-8 ‘food crisis’, in particular. The first paper analyses, in a stylized economic model, how the response of domestic aggregate food prices to an international shock depends on features of the country’s income distribution. The model is based on a dichotomy between traded and purely...

  11. European attitudes to water pricing

    DEFF Research Database (Denmark)

    Jensen, Anne Kejser

    2016-01-01

    as is affordability concern, which may be explained by expectations of inequity measures to come in place in parallel with increasing water prices. Overall these results support the hypothesis that lack of information and affordability concern could lead to resistance towards efficient water pricing among the general......Efficient use of the water resource requires internalization of all costs in the price of water, including environmental and resource costs. However, water resource management tends to be highly political and increasing water prices are a sensitive and complicated policy matter. Hence......, there is a need for increased understanding of the implementation process and the attitudes towards implementation among the general public. This paper explores the spatial heterogeneity in the public attitude towards internalizing environmental and resource costs in the price of water across the EU regions...

  12. Ethical aspect price decision making

    Directory of Open Access Journals (Sweden)

    Grubor Aleksandar

    2007-01-01

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

  13. Trade and Transfer of Tree Seed

    DEFF Research Database (Denmark)

    Schmidt, Lars Holger

    2016-01-01

    When seed producers and seed users are geographically or functionally separated, seeds are transferred from producers to users. In market-oriented systems, transfer includes the pricing of seed, which reflects the procurement cost and seed quality. Physiological quality is documented via the seed...

  14. The Character of Price Transmission Within Milk Commodity Chain in the Czech Republic

    Directory of Open Access Journals (Sweden)

    Barbora Dudová

    2015-01-01

    Full Text Available The article is focused on price transmission within milk commodity chain in the Czech Republic. The article distinct on milk products with low value added – cow milk/paper box milk and products with higher value added – cow milk/butter. Price transmission is measured by the coefficient of elasticity of the price transmission (EPT; price transfer is examined in demand as well as supply direction. Next part of the analysis measures price differences (by coefficient determination – R2 in supply direction. Last step in this analysis is the impact of time delay at the price transmission process (measured by R2. The price transmission is asymmetric in the supply direction on both parts of commodity chain (EPT = 0.29 and 0.62, in the demand direction is more symmetric (EPT = 0.31 and 1.02. The assumption of better transfer of positive price changes was confirmed. At the commodity chain of milk/dairy products the time delay is not so much important. With both tested commodity chains there was found higher power of downstream markets, proving demand driven behaviour of these commodity chains, and there was detected oligopsony market structure as well. The data represent monthly prices on both chosen vertical levels in the period of 1/2000–8/2013.

  15. World oil prices, precious metal prices and macroeconomy in Turkey

    International Nuclear Information System (INIS)

    Soytas, Ugur; Sari, Ramazan; Hammoudeh, Shawkat; Hacihasanoglu, Erk

    2009-01-01

    We examine the long- and short-run transmissions of information between the world oil price, Turkish interest rate, Turkish lira-US dollar exchange rate, and domestic spot gold and silver price. We find that the world oil price has no predictive power of the precious metal prices, the interest rate or the exchange rate market in Turkey. The results also show that the Turkish spot precious metals, exchange rate and bond markets do not also provide information that would help improve the forecasts of world oil prices in the long run. The findings suggest that domestic gold is also considered a safe haven in Turkey during devaluation of the Turkish lira, as it is globally. It is interesting to note that there does not seem to be any significant influence of developments in the world oil markets on Turkish markets in the short run either. However, transitory positive initial impacts of innovations in oil prices on gold and silver markets are observed. The short-run price transmissions between the world oil market and the Turkish precious metal markets have implications for policy makers in emerging markets and both local and global investors in the precious metals market and the oil market.

  16. Technological inductive power transfer systems

    Science.gov (United States)

    Madzharov, Nikolay D.; Nemkov, Valentin S.

    2017-05-01

    Inductive power transfer is a very fast expanding technology with multiple design principles and practical implementations ranging from charging phones and computers to bionic systems, car chargers and continuous power transfer in technological lines. Only a group of devices working in near magnetic field is considered. This article is devoted to overview of different inductive power transfer (IPT) devices. The review of literature in this area showed that industrial IPT are not much discussed and examined. The authors have experience in design and implementation of several types of IPTs belonging to wireless automotive chargers and to industrial application group. Main attention in the article is paid to principles and design of technological IPTs

  17. Option pricing for non-Gaussian price fluctuations

    Science.gov (United States)

    Kleinert, Hagen

    2004-07-01

    From the path integral description of price fluctuations with non-Gaussian distributions we derive a stochastic calculus which replaces Itô's calculus for harmonic fluctuations. We set up a natural martingale for option pricing from the wealth balance of options, stocks, and bonds, and evaluate the resulting formula for truncated Lévy distributions. After this, an alternative formula is derived for a model of multivariant Gaussian price fluctuations which leads to non-Gaussian return distributions fitting Dow Jones data excellently from long to short time scales with a tail behavior e - x/ x3/2.

  18. Prospects for Money Transfer Models

    OpenAIRE

    Yougui Wang; Ning Ding; Ning Xi

    2005-01-01

    Recently, in order to explore the mechanism behind wealth or income distribution, several models have been proposed by applying principles of statistical mechanics. These models share some characteristics, such as consisting of a group of individual agents, a pile of money and a specific trading rule. Whatever the trading rule is, the most noteworthy fact is that money is always transferred from one agent to another in the transferring process. So we call them money transfer models. Besides e...

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

    International Nuclear Information System (INIS)

    Ewing, Bradley T.; Thompson, Mark A.

    2007-01-01

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

  20. Have oil and gas prices got separated?

    International Nuclear Information System (INIS)

    Erdős, Péter

    2012-01-01

    This paper applies vector error correction models that show that oil and natural gas prices decoupled around 2009. Before 2009, US and UK gas prices had a long-term equilibrium with crude prices to which gas prices always reverted after exogenous shocks. Both US and UK gas prices adjusted to the crude oil price individually, and departure from the equilibrium gas price on one continent resulted in a similar departure on the other. After an exogenous shock, the adjustment between US and UK gas prices took approximately 20 weeks on average, and the convergence was mediated mainly by crude oil with a necessary condition that arbitrage across the Atlantic was possible. After 2009, however, the UK gas price has remained integrated with oil price, but the US gas price decoupled from crude oil price and the European gas price, as the Atlantic arbitrage has halted. The oversupply from shale gas production has not been mitigated by North American export, as there has been no liquefying and export capacity. - Highlights: ► VEC models are applied to investigate the relationship between oil and natural gas prices. ► While natural gas prices in Europe and Asia react to oil price, US gas price decoupled from oil in 2009. ► Since 2009, the US gas price has decoupled from the European and Asian gas prices.

  1. The capital-asset-pricing model and arbitrage pricing theory: a unification.

    Science.gov (United States)

    Ali Khan, M; Sun, Y

    1997-04-15

    We present a model of a financial market in which naive diversification, based simply on portfolio size and obtained as a consequence of the law of large numbers, is distinguished from efficient diversification, based on mean-variance analysis. This distinction yields a valuation formula involving only the essential risk embodied in an asset's return, where the overall risk can be decomposed into a systematic and an unsystematic part, as in the arbitrage pricing theory; and the systematic component further decomposed into an essential and an inessential part, as in the capital-asset-pricing model. The two theories are thus unified, and their individual asset-pricing formulas shown to be equivalent to the pervasive economic principle of no arbitrage. The factors in the model are endogenously chosen by a procedure analogous to the Karhunen-Loéve expansion of continuous time stochastic processes; it has an optimality property justifying the use of a relatively small number of them to describe the underlying correlational structures. Our idealized limit model is based on a continuum of assets indexed by a hyperfinite Loeb measure space, and it is asymptotically implementable in a setting with a large but finite number of assets. Because the difficulties in the formulation of the law of large numbers with a standard continuum of random variables are well known, the model uncovers some basic phenomena not amenable to classical methods, and whose approximate counterparts are not already, or even readily, apparent in the asymptotic setting.

  2. The capital-asset-pricing model and arbitrage pricing theory: A unification

    Science.gov (United States)

    Khan, M. Ali; Sun, Yeneng

    1997-01-01

    We present a model of a financial market in which naive diversification, based simply on portfolio size and obtained as a consequence of the law of large numbers, is distinguished from efficient diversification, based on mean-variance analysis. This distinction yields a valuation formula involving only the essential risk embodied in an asset’s return, where the overall risk can be decomposed into a systematic and an unsystematic part, as in the arbitrage pricing theory; and the systematic component further decomposed into an essential and an inessential part, as in the capital-asset-pricing model. The two theories are thus unified, and their individual asset-pricing formulas shown to be equivalent to the pervasive economic principle of no arbitrage. The factors in the model are endogenously chosen by a procedure analogous to the Karhunen–Loéve expansion of continuous time stochastic processes; it has an optimality property justifying the use of a relatively small number of them to describe the underlying correlational structures. Our idealized limit model is based on a continuum of assets indexed by a hyperfinite Loeb measure space, and it is asymptotically implementable in a setting with a large but finite number of assets. Because the difficulties in the formulation of the law of large numbers with a standard continuum of random variables are well known, the model uncovers some basic phenomena not amenable to classical methods, and whose approximate counterparts are not already, or even readily, apparent in the asymptotic setting. PMID:11038614

  3. Defense Contract Audit Agency Reviews of Price Proposals

    National Research Council Canada - National Science Library

    1998-01-01

    .... Auditors perform field pricing reviews of contractor price proposals when procurement office information is insufficient to perform the cost or price analysis needed to negotiate contract prices...

  4. 19 CFR 351.414 - Comparison of normal value with export price (constructed export price).

    Science.gov (United States)

    2010-04-01

    ... Price, Fair Value, and Normal Value § 351.414 Comparison of normal value with export price (constructed... 19 Customs Duties 3 2010-04-01 2010-04-01 false Comparison of normal value with export price... value and, in an investigation, prices used as the basis for export price or constructed export price as...

  5. Price and consumption of tobacco.

    Science.gov (United States)

    Singh, Virendra; Sharma, Bharat Bhushan; Saxena, Puneet; Meena, Hardayal; Mangal, Daya Krishan

    2012-07-01

    It is thought that price increase in tobacco products leads to reduced consumption. Though many studies have substantiated this concept, it has not been well studied in India. Recently, price of tobacco products was increased due to ban on plastic sachets of chewing tobacco and increased tax in Rajasthan. This study was designed to evaluate the effect of price rise on overall consumption of tobacco in Jaipur city, Rajasthan. This study was carried out in Jaipur city. Two-staged stratified sampling was used. In the first phase of study, cost and consumption of various tobacco products in the months of February and April were enquired from 25 retail tobacco shops. In the second phase, tobacco consumption was enquired from 20 consecutive consumers purchasing any tobacco product from all the above retail tobacco shops. The data were statistically analyzed using descriptive statistics and paired "t" test. The comparison of prices of tobacco products between February and April revealed that the price of cigarette, bidi, and chewing tobacco has increased by 19%, 21%, and 68%, respectively. Average decrease in sales of cigarettes, bidi, and chewing tobacco at shops included in the study were 14%, 23%, and 38%, respectively. The consumers purchasing tobacco also reported decreased consumption. Chewing tobacco showed the maximum reduction (21%). Consumption of cigarette and bidi has also reduced by 15% and 13%, respectively. It may be concluded that reduction in consumption is associated with increased price of tobacco products. Reduced consumption is comparative to the magnitude of price increase.

  6. Canadian natural gas price forecast

    International Nuclear Information System (INIS)

    Jones, D.

    1998-01-01

    The basic factors that influenced NYMEX gas prices during the winter of 1997/1998 - warm temperatures, low fuel prices, new production in the Gulf of Mexico, and the fact that forecasters had predicted a mild spring due to El Nino - were reviewed. However, it was noted that for the last 18 months the basic factors had less of an impact on market direction because of an increase in Fund and technical trader participation. Overall, gas prices were strong through most of the year. For the winter of 1998-1999 the prediction was that NYMEX gas prices will remain below $2.00 through to the end of October 1998 because of high U.S. storage levels and moderate temperatures. NYMEX gas prices are expected to peak in January 1999 at $3.25. AECO natural gas prices were predicted to decrease in the short term because of increasing levels of Canadian storage, and because of delays in Northern Border pipeline expansions. It was also predicted that AECO prices will peak in January 1999 and will remain relatively strong through the summer of 1999. tabs., figs

  7. [The French medecine pricing committee].

    Science.gov (United States)

    Giorgi, D

    2017-09-01

    The French medicine pricing committee (CEPS) has to reconcile several major constraints, including optimal patient access to medicines and a good control of expenditures on reimbursable medicines. From 2013 to 2015, drug price decreases and discounts obtained by CEPS contributed more than € 5 billion to the balance of the health insurance accounts. As for price setting, there is a significant drop in the prices of medicines in France once they are registered for reimbursement. France is affected by a limited, but costly, flow of innovative medicines, whose prices are higher than those of previous generations, a reflection of an international gradient to which France is obviously subject, despite prices that remain at the low end of the range in Western Europe. The provision of innovative medicines for all patients who need them has been ensured in France over the last fifteen years at a controlled cost. But with the arrival of new expensive products, a resolute policy of control of expenditures must take over from the fall in prices, and original financing channels will have to be explored. Copyright © 2017 Académie Nationale de Pharmacie. Published by Elsevier Masson SAS. All rights reserved.

  8. Principles of project management

    Science.gov (United States)

    1982-01-01

    The basic principles of project management as practiced by NASA management personnel are presented. These principles are given as ground rules and guidelines to be used in the performance of research, development, construction or operational assignments.

  9. Price Sensitivity of Demand for Prescription Drugs

    DEFF Research Database (Denmark)

    Simonsen, Marianne; Skipper, Lars; Skipper, Niels

    2016-01-01

    We investigate price sensitivity of demand for prescription drugs, using drug purchase records for the entire Danish population. We identify price responsiveness by exploiting variation in prices caused by kinked reimbursement schemes and implement a regression kink design. The results suggest some...... price responsiveness with corresponding price elasticities ranging from −0.2 to −0.7. Individuals with chronic disease and especially individuals above the age of 65 respond less to the price of drugs....

  10. Water Demand Under Alternative Price Structures

    OpenAIRE

    Sheila Olmstead; W. Michael Hanemann; Robert N. Stavins

    2007-01-01

    We estimate the price elasticity of water demand with household-level data, structurally modeling the piecewise-linear budget constraints imposed by increasing-block pricing. We develop a mathematical expression for the unconditional price elasticity of demand under increasing-block prices and compare conditional and unconditional elasticities analytically and empirically. We test the hypothesis that price elasticity may depend on price structure, beyond technical differences in elasticity co...

  11. Dynamic pricing for demand response considering market price uncertainty

    DEFF Research Database (Denmark)

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

    2017-01-01

    Retail energy providers (REPs) can employ different strategies such as offering demand response (DR) programs, participating in bilateral contracts, and employing self-generation distributed generation (DG) units to avoid financial losses in the volatile electricity markets. In this paper......, the problem of setting dynamic retail sales price by a REP is addressed with a robust optimization technique. In the proposed model, the REP offers price-based DR programs while it faces uncertainties in the wholesale market price. The main contribution of this paper is using a robust optimization approach......,679 residential consumers. The deterministic approach and its robust counterpart are used to solve the problem. The results show that, with a slight decrease in the expected payoff, the REP can effectively protect itself against price variations. Offering time-variable retail rates also can increase the expected...

  12. Understanding transmission and distribution pricing options and proposals

    International Nuclear Information System (INIS)

    Shalaby, A.

    1998-01-01

    Issues regarding power transmission and distribution pricing were addressed in view of the importance of pricing to electricity restructuring and policy developments. Specific facts, policy directions, options and challenges peculiar to Ontario were highlighted, and recent Ontario legislation affecting the electricity industry was updated. The importance of transmission tariffs to open markets was reviewed with special reference to Canada because of their role in internal restructuring and in gaining fuller access to U.S. markets. The objectives of transmission and distribution pricing, the principles for network pricing, and the range of available options were considered with specific reference to Ontario. In comparing Ontario to other jurisdictions, it was acknowledged that the same problems that plagued other jurisdictions introducing deregulation, are also prominent in Ontario. As has been observed elsewhere, there has been no progress on transmission and distribution pricing options. There are significant implementation and transition challenges waiting for solutions. Issues beyond Ontario, such as trading with the United States, wider reach of the Independent Market Operator, agreements with other IMOs, etc., are still largely unresolved

  13. Reforming residential electricity tariff in China: Block tariffs pricing approach

    International Nuclear Information System (INIS)

    Sun, Chuanwang; Lin, Boqiang

    2013-01-01

    The Chinese households that make up approximately a quarter of world households are facing a residential power tariff reform in which a rising block tariff structure will be implemented, and this tariff mechanism is widely used around the world. The basic principle of the structure is to assign a higher price for higher income consumers with low price elasticity of power demand. To capture the non-linear effects of price and income on elasticities, we set up a translog demand model. The empirical findings indicate that the higher income consumers are less sensitive than those with lower income to price changes. We further put forward three proposals of Chinese residential electricity tariffs. Compared to a flat tariff, the reasonable block tariff structure generates more efficient allocation of cross-subsidies, better incentives for raising the efficiency of electricity usage and reducing emissions from power generation, which also supports the living standards of low income households. - Highlights: • We design a rising block tariff structure of residential electricity in China. • We set up a translog demand model to find the non-linear effects on elasticities. • The higher income groups are less sensitive to price changes. • Block tariff structure generates more efficient allocation of cross-subsidies. • Block tariff structure supports the living standards of low income households

  14. Book Review: Veld Management – Principles and Practices | du Toit ...

    African Journals Online (AJOL)

    Abstract. Book Title: Veld Management – Principles and Practices. Book Author: Frits van Oudtshoorn. 2015, Briza Publications, PO Box 11050, Queenswood 0121, South Africa. 256 pages, softcover, 380 colour photographs and illustrations. ISBN 978-1-920217-29-7. Price R295.

  15. Rail renaissance based on strategic market segmentation principles

    African Journals Online (AJOL)

    Rail renaissance based on strategic market segmentation principles. 5 mostly variable and significantly exposed to volatile exogenous core cost drivers, for example, the price of fuel. The externality costs associated with road freight transport are also higher than those attributable to rail freight transport (Hesse & Rodrigue.

  16. Discussion: the supply price control

    International Nuclear Information System (INIS)

    Littlechild, S.

    1993-01-01

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

  17. What drives natural gas prices?

    OpenAIRE

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

    2007-01-01

    For many years, fuel switching between natural gas and residual fuel oil kept natural gas prices closely aligned with those for crude oil. More recently, however, the number of U.S. facilities able to switch between natural gas and residual fuel oil has declined, and over the past five years, U.S. natural gas prices have been on an upward trend with crude oil prices but with considerable independent movement. Natural gas market analysts generally emphasize weather and inventories as drivers o...

  18. Oil price, oil price volatility and natural gas

    OpenAIRE

    Erdoğan, Mürşide Rabia

    2017-01-01

    Cataloged from PDF version of article. Thesis (M.S.): Bilkent University, Department of Economics, İhsan Doğramacı Bilkent University, 2017. Includes bibliographical references (leaves 29-31). Natural gas market has been developing and transportation and storage methods have been improving. Due to substitution between natural gas and oil in various sectors such as power generation, oil price and oil price volatility may reflect these changes in natural gas markets. We employ four rat...

  19. Pricing hospital care: Global budgets and marginal pricing strategies.

    Science.gov (United States)

    Sutherland, Jason M

    2015-08-01

    The Canadian province of British Columbia (BC) is adding financial incentives to increase the volume of surgeries provided by hospitals using a marginal pricing approach. The objective of this study is to calculate marginal costs of surgeries based on assumptions regarding hospitals' availability of labor and equipment. This study is based on observational clinical, administrative and financial data generated by hospitals. Hospital inpatient and outpatient discharge summaries from the province are linked with detailed activity-based costing information, stratified by assigned case mix categorizations. To reflect a range of operating constraints governing hospitals' ability to increase their volume of surgeries, a number of scenarios are proposed. Under these scenarios, estimated marginal costs are calculated and compared to prices being offered as incentives to hospitals. Existing data can be used to support alternative strategies for pricing hospital care. Prices for inpatient surgeries do not generate positive margins under a range of operating scenarios. Hip and knee surgeries generate surpluses for hospitals even under the most costly labor conditions and are expected to generate additional volume. In health systems that wish to fine-tune financial incentives, setting prices that create incentives for additional volume should reflect knowledge of hospitals' underlying cost structures. Possible implications of mis-pricing include no response to the incentives or uneven increases in supply. Copyright © 2015 The Authors. Published by Elsevier Ireland Ltd.. All rights reserved.

  20. Auction Mechanism of Micro-Grid Project Transfer

    Directory of Open Access Journals (Sweden)

    Yong Long

    2017-10-01

    Full Text Available Micro-grid project transfer is the primary issue of micro-grid development. The efficiency and quality of the micro-grid project transfer directly affect the quality of micro-grid project construction and development, which is very important for the sustainable development of micro-grid. This paper constructs a multi-attribute auction model of micro-grid project transfer, which reflects the characteristics of micro-grid system and the interests of stakeholders, calculates the optimal bidding strategy and analyzes the influence of relevant factors on auction equilibrium by multi-stage dynamic game with complete information, and makes a numerical simulation analysis. Results indicate that the optimal strategy of auction mechanism is positively related to power quality, energy storage quality, and carbon emissions. Different from the previous lowest price winning mechanism, the auction mechanism formed in this paper emphasizes that the energy suppliers which provide the comprehensive optimization of power quality, energy storage quality, carbon emissions, and price will win the auction, when both the project owners and energy suppliers maximize their benefits under this auction mechanism. The auction mechanism is effective because it is in line with the principle of individual rationality and incentive compatibility. In addition, the number of energy suppliers participating in the auction and the cost of the previous auction are positively related to the auction equilibrium, both of which are adjusting the equilibrium results of the auction. At the same time, the utilization rate of renewable energy and the comprehensive utilization of energy also have a positive impact on the auction equilibrium. In the end, this paper puts forward a series of policy suggestions about micro-grid project auction. The research in this paper is of great significance to improve the auction quality of micro-grid projects and promote the sustainable development of micro-grid.

  1. Basic Economic Principles

    Science.gov (United States)

    Tideman, T. N.

    1972-01-01

    An economic approach to design efficient transportation systems involves maximizing an objective function that reflects both goals and costs. A demand curve can be derived by finding the quantities of a good that solve the maximization problem as one varies the price of that commodity, holding income and the prices of all other goods constant. A supply curve is derived by applying the idea of profit maximization of firms. The production function determines the relationship between input and output.

  2. Dimensional cosmological principles

    International Nuclear Information System (INIS)

    Chi, L.K.

    1985-01-01

    The dimensional cosmological principles proposed by Wesson require that the density, pressure, and mass of cosmological models be functions of the dimensionless variables which are themselves combinations of the gravitational constant, the speed of light, and the spacetime coordinates. The space coordinate is not the comoving coordinate. In this paper, the dimensional cosmological principle and the dimensional perfect cosmological principle are reformulated by using the comoving coordinate. The dimensional perfect cosmological principle is further modified to allow the possibility that mass creation may occur. Self-similar spacetimes are found to be models obeying the new dimensional cosmological principle

  3. Rising Food Prices: Who's Responsible?

    Science.gov (United States)

    Brown, Lester R.

    1973-01-01

    Rise in food prices can be partially attributed to the high food consumption level throughout Europe and North America, coupled with failure to evolve systems for more production of cattle, soybeans, and fisheries at lower cost. (PS)

  4. The price of environmental pollution

    International Nuclear Information System (INIS)

    Bleijenberg, A.N.; Davidson, M.D.

    1996-11-01

    There is no market price for environmental pollution, simply because of the fact that there is not a market for the environment. However, it is possible to calculate so-called shadow prices for environmental pollution. The calculation method can be summarized as follows: determine the price that exist when there would be a market for the environment. In many cases the calculation must be based on environmental targets as determined by the government. Based on that method and on available data and information, shadow prices are estimated for 18 different pollutants: CO2, CO, CH4, SO2, NH3, NOx, volatile organic materials, final wastes, phosphates, nitrates, COD, fine dust, toluene, benzene, benzopyrene (to air and water), zinc (to water), and copper (to water). 7 figs., 5 tabs., 43 refs

  5. Poverty, Policy and Price Transmission

    DEFF Research Database (Denmark)

    Elleby, Christian

    This thesis consists of four self-contained chapters in which different aspects of the relationship between international commodity markets and domestic food markets are explored. What motivates the analysis is the recent surge in international commodity prices and the controversy over the poverty...... domestic goods. Households prefer the traded good which they substitute towards as their incomes increase, thus exposing themselves to world market price swings. Price transmission from international to domestic markets therefore increases with per capita income but also with income inequality. Model...... impact of the 2007-8 ‘food crisis’, in particular. The first paper analyses, in a stylized economic model, how the response of domestic aggregate food prices to an international shock depends on features of the country’s income distribution. The model is based on a dichotomy between traded and purely...

  6. Supply Chain Shipment Pricing Data

    Data.gov (United States)

    US Agency for International Development — This data set provides supply chain health commodity shipment and pricing data. Specifically, the data set identifies Antiretroviral (ARV) and HIV lab shipments to...

  7. Dynamic pricing of a resource

    KAUST Repository

    Al-Dawsari, Monther Abdullah

    2013-06-04

    A method of dynamic pricing of a resource is presented. For example, the method includes determining a set of anticipated demands for one or more users to acquire the resource according to uncertainty of the one or more users in preferring one or more certain time periods of a plurality of time periods for acquiring the resource. Prices for the resource differ between at least two of the plurality of time periods. Each anticipated demand of the set is associated with a different one of the plurality of time periods. The method further includes setting prices for the resource during each of the plurality of time periods according to the determined set of anticipated demands. The determining of the set of anticipated demands and/or the setting of prices are implemented as instruction code executed on a processor device.

  8. Dynamic Price Dispersion of Storable Goods

    DEFF Research Database (Denmark)

    Gao, Cixiu

    2014-01-01

    consists of one-time price reductions and several consecutive periods in which all retailers offer the regular price. The model predicts that competition is the hardest when consumer inventories are zero, and that at high inventory levels the probability of holding a sale is low.......In this paper I provide an analytical model for the rationale behind supermarket pricing patterns characterized by long-term high prices and temporary price reductions. The model is based on the understanding that temporary price reductions serve the role of price discrimination between consumers...... with different search costs and willingness to wait. I demonstrate that the high-price-low-price pattern is rational for storable goods. In a Markov-perfect equilibrium, agents’ actions depend on consumer inventory, and purchase decisions are characterized by a critical price. The equilibrium price series...

  9. Technology transfer quality assurance

    International Nuclear Information System (INIS)

    Hood, F.C.

    1991-03-01

    The results of research conducted at Pacific Northwest Laboratory (PNL) for the DOE are regularly transferred from the laboratory to the private sector. The principal focus of PNL is on environmental research and waste management technology; other programs of emphasis include molecular science research. The technology transfer process is predicated on Quality to achieve its objectives effectively. Total quality management (TQM) concepts and principles readily apply to the development and translation of new scientific concepts into commercial products. The concept of technology transfer epitomizes the TQM tenet of continuous improvement: always striving for a better way to do things and always satisfying the customer. A successful technology transfer process adds value to society by providing new or enhanced processes, products, and services to government and commercial customers, with a guarantee of product pedigree and process validity. 2 refs

  10. Pricing decision-making units

    OpenAIRE

    R F&aauml;re; S Grosskopf; D Margaritis

    2013-01-01

    In this note we extend the standard DEA paradigm to address the question of how one can price DMUs (decision-making units). To do this we use an adjoint transformation to the technology generated by these DMUs which links to traditional linear programming theory of the firm and is similar to pricing portfolios in financial markets. We also provide a numerical example illustrating the practicality of the proposed method.

  11. The Price-Anderson Act

    International Nuclear Information System (INIS)

    Jones, R.

    2000-01-01

    The Price-Anderson Act establishes nuclear liability law in the United States. First passed in 1957, it has influenced other nuclear liability legislation around the world. The insurer response the nuclear accident at Three Mile Island in 1979 demonstrates the application of the Act in a real life situation. The Price-Anderson Act is scheduled to be renewed in 2002, and the future use of commercial nuclear power in tge United States will be influenced by this renewal. (author)

  12. Petroleum price; Prix du petrole

    Energy Technology Data Exchange (ETDEWEB)

    Maurice, J

    2001-07-01

    The oil market is the most volatile of all markets, with the exception of the Nasdaq. It is also the biggest commodity market in the world. Therefore one cannot avoid forecasting oil prices, nor can one expect to avoid the forecasting errors that have been made in the past. In his report, Joel Maurice draws a distinction between the short term and the medium-long term in analysing the outlook for oil prices. (author)

  13. Engineering calculations in radiative heat transfer

    CERN Document Server

    Gray, W A; Hopkins, D W

    1974-01-01

    Engineering Calculations in Radiative Heat Transfer is a six-chapter book that first explains the basic principles of thermal radiation and direct radiative transfer. Total exchange of radiation within an enclosure containing an absorbing or non-absorbing medium is then described. Subsequent chapters detail the radiative heat transfer applications and measurement of radiation and temperature.

  14. Understanding gasoline pricing in Canada

    International Nuclear Information System (INIS)

    Anon.

    2001-01-01

    Pricing policies for gasoline by Canadian oil companies are discussed. An attempt is made to demonstrate that competition between oil companies is extremely keen, and markups are so small that to stay in business, retail outlets have to sell huge volumes and sell non-fuel products, as a means to increase revenues and margins. An explanation is provided for why gasoline prices move in unison, and why what appears to the public as collusion and gouging is, in fact, the result of retail dealers attempting to stay in business. The high prices are attributed mainly to taxes by municipalities, the provinces and the federal government; taxes are said to account for 40 to 50 per cent of the pump price. The cost of crude makes up another 35 to 45 per cent, refining adds 10 to 15 per cent, with the remaining 5 to 10 per cent representing retail costs. (Taxes in the United States average 20 to 30 per cent). Over the longer term, gasoline prices consistently reflect the cost of crude oil, dominated by the OPEC countries which supply about 41 per cent of daily world production. Another factor is the rise of global and regional commodity markets for refined products such as gasoline. Commodity traders buy wholesale gasoline cheaply whenever it is in oversupply, and sell it for a profit into markets where the demand is greater. While this is claimed to ensure competitive prices in all markets, the practice can also trigger abrupt changes in regional markets

  15. OPEC's optimal crude oil price

    International Nuclear Information System (INIS)

    Horn, Manfred

    2004-01-01

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

  16. Distributional impacts of the 2008 global food price spike in Vietnam

    DEFF Research Database (Denmark)

    McKay, Andy; Tarp, Finn

    Agriculture and food cultivation production remains a key sector in the Vietnamese economy in terms of productive activities, income generation, and national export earnings. Higher world market prices should therefore in principle have a beneficial impact on rural farmers. This is based however...... on the assumption that world prices are transmitted and that farmers have the capacity to respond. In addition, many poorer farm households may be net consumers. Using data from the Vietnam Access to Resources Household Survey (VARHS) and the Vietnam Household Living Standard Survey (VHLSS) combined with available...... macro-data, this paper investigates how global price changes appear to have impacted on rural welfare in Vietnam during 2006-12. In this paper we study the case of rice in Vietnam, in the context of the 2008 food price spike. We analyse the responses of domestic producer and consumer prices, and discuss...

  17. Transfer Pricing Profit Split Methods : A Practical Solution?

    OpenAIRE

    Quttineh, Yousef

    2009-01-01

    The purpose of this master’s thesis is to explain and analyze whether today’s existing regulations provide sufficient guidance on how to apply the Profit Split Method (PSM) in practice. Since the enterprises’ profits arising from intra-group transactions increases, the tax base for any government also becomes larger and more important. This issue will likely become even more problematic as the globalization branches out and the majority of the global trade is undertaken between associated ent...

  18. Performance Management in Insurance Firms by Using Transfer Pricing

    NARCIS (Netherlands)

    Doff, René; Bilderbeek, J.; Bruggink, Bert; Emmen, Pieter

    2009-01-01

    In this article, we analyze the asset and liability management and market risk systems of insurance companies. We discuss that the current system is not goal congruent and does not satisfy necessary conditions for effective control. It follows that managers are unable to run their business

  19. Peculiarities of transfer pricing legal regulation in Lithuania

    OpenAIRE

    Savickaitė, Kristina

    2014-01-01

    Disertacijoje nagrinėjami sandorių kainodaros teisinio reguliavimo ypatumai Lietuvoje ypatingą dėmesį kreipiant į tarptautinių organizacijų (Ekonominio bendradarbiavimo ir plėtros organizacijos (EBPO) ir Europos Sąjungos) rekomendacijų įtaką jam. Pirmoje disertacijos dalyje pateikiama sandorių kainodaros samprata, sandorių kainodaros reguliavimo raida Lietuvoje ir EBPO bei Europos Sąjungos lygmeniu, tiriama tarptautinių organizacijų rekomendacijų reikšmė sandorių kainodaros reguliavimui, nagr...

  20. Charge Pricing Optimization Model for Private Charging Piles in Beijing

    Directory of Open Access Journals (Sweden)

    Xingping Zhang

    2017-11-01

    Full Text Available This paper develops a charge pricing model for private charging piles (PCPs by considering the environmental and economic effects of private electric vehicle (PEV charging energy sources and the impact of PCP charging load on the total load. This model simulates users’ responses to different combinations of peak-valley prices based on the charging power of PCPs and user charging transfer rate. According to the regional power structure, it calculates the real-time coal consumption, carbon dioxide emissions reduction, and power generation costs of PEVs on the power generation side. The empirical results demonstrate that the proposed peak-valley time-of-use charging price can not only minimize the peak-valley difference of the total load but also improve the environmental effects of PEVs and the economic income of the power system. The sensitivity analysis shows that the load-shifting effect of PCPs will be more obvious when magnifying the number of PEVs by using the proposed charging price. The case study indicates that the proposed peak, average, and valley price in Beijing should be 1.8, 1, and 0.4 yuan/kWh, which can promote the large-scale adoption of PEVs.

  1. Performance Targets and External Market Prices

    DEFF Research Database (Denmark)

    Hansen, Allan; Friis, Ivar; Vámosi, Tamás S.

    In this paper we explore the processes of ‘bringing the market inside the firm’ to set performance targets and benchmark production workers productivity. We analyze attempts to use external suppliers’ bids in target setting in a Danish manufacturing company. The case study illustrates how...... the implementation of external market information in target setting – well known in transfer pricing, relative performance evaluation, beyond budgeting, target costing, piece rates systems and value based management – relate to challenging motivation and information problem. The analysis and discussion of those...... problems, in particular those related to accounting for the internal performance (that are going to be compared with the external target), calculating the ‘inside’ costs and defining controllability, contributes to the management accounting as well as the piece-rate literature....

  2. Performance Targets and External Market Prices

    DEFF Research Database (Denmark)

    Hansen, Allan; Friis, Ivar; Vámosi, Tamás S.

    2012-01-01

    the implementation of external market information in target setting – well known in transfer pricing, relative performance evaluation, beyond budgeting, target costing, piece rates systems and value based management – relate to challenging motivation and information problem. The analysis and discussion of those......In this paper we explore the processes of ‘bringing the market inside the firm’ to set performance targets and benchmark production workers productivity. We analyze attempts to use external suppliers’ bids in target setting in a Danish manufacturing company. The case study illustrates how...... problems, in particular those related to accounting for the internal performance (that are going to be compared with the external target), calculating the ‘inside’ costs and defining controllability, contributes to the management accounting as well as the piece-rate literature....

  3. Impact of optimal load response to real-time electricity price on power system constraints in Denmark

    DEFF Research Database (Denmark)

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

    2010-01-01

    Since the hourly spot market price is available one day ahead in Denmark, the price could be transferred to the consumers and they may shift their loads from high price periods to the low price periods in order to save their energy costs. The optimal load response to a real-time electricity price...... and may represent the future of electricity markets in some ways, is chosen as the studied power system in this paper. A distribution system where wind power capacity is 126% of maximum loads is chosen as the study case. This paper presents a nonlinear load optimization method to real-time power price...... for demand side management in order to save the energy costs as much as possible. Simulation results show that the optimal load response to a real-time electricity price has some good impacts on power system constraints in a distribution system with high wind power penetrations....

  4. Landgericht Stuttgart condemns power price boycotters to payment

    International Nuclear Information System (INIS)

    Anon.

    1981-01-01

    With its judgment of 18th December 1980 - 10 0 164/80 - the LG Stuttgart has condemned an electricity customer who, being an opponent of nuclear energy, had been keeping back ten per cent of the power price and transfering this amount to a trust account to the payment of the arrears. A public utility company cooperating with a nuclear power plant and supplying its customers with electric power from this npp had submitted its claim. (orig./HP) [de

  5. 41 CFR 51-5.5 - Prices.

    Science.gov (United States)

    2010-07-01

    ... 41 Public Contracts and Property Management 1 2010-07-01 2010-07-01 true Prices. 51-5.5 Section 51.... (a) The prices for items on the Procurement List are fair market prices established by the Committee... revising the fair market prices for services on the Procurement List, upon request from the central...

  6. Dynamic pricing models for electronic business

    Indian Academy of Sciences (India)

    Dynamic pricing is the dynamic adjustment of prices to consumers depending upon the value these customers attribute to a product or service. Today's digital economy is ready for dynamic pricing; however recent research has shown that the prices will have to be adjusted in fairly sophisticated ways, based on sound ...

  7. Academic Library Responses to Journal Price Discrimination.

    Science.gov (United States)

    Haley, Jean Walstrom; Talaga, James

    1992-01-01

    Discusses the nature and extent of discriminatory pricing by journal publishers, and reports on a survey of academic libraries that was conducted to assess the effectiveness of strategies used by libraries to mitigate the effects of high journal prices and price discrimination, i.e., higher prices for both institutions and foreign subscribers.…

  8. Price Discrimination and Resale: A Classroom Experiment

    Science.gov (United States)

    Basuchoudhary, Atin; Metcalf, Christopher; Pommerenke, Kai; Reiley, David; Rojas, Christian; Rostek, Marzena; Stodder, James

    2008-01-01

    The authors present a classroom experiment designed to illustrate key concepts of third-degree price discrimination. By participating as buyers and sellers, students actively learn (1) how group pricing differs from uniform pricing, (2) how resale between buyers limits a seller's ability to price discriminate, and (3) how preventing price…

  9. The Price Elasticity of Residential Energy Use,

    Science.gov (United States)

    household energy- consumption behavior : The difference between the own-price elasticity of total consumption and that of saturation is a measure of the responsiveness of ’conservation’ to price....estimates of the own-price elasticities of total consumption but almost surely will produce erroneous estimates of the cross-price elasticities. As regards

  10. 7 CFR 1032.54 - Equivalent price.

    Science.gov (United States)

    2010-01-01

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

  11. 7 CFR 1124.54 - Equivalent price.

    Science.gov (United States)

    2010-01-01

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

  12. 7 CFR 1006.54 - Equivalent price.

    Science.gov (United States)

    2010-01-01

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

  13. 17 CFR 242.201 - Price test.

    Science.gov (United States)

    2010-04-01

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

  14. 7 CFR 1001.54 - Equivalent price.

    Science.gov (United States)

    2010-01-01

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

  15. 7 CFR 1007.54 - Equivalent price.

    Science.gov (United States)

    2010-01-01

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

  16. 25 CFR 141.16 - Price marking.

    Science.gov (United States)

    2010-04-01

    ... 25 Indians 1 2010-04-01 2010-04-01 false Price marking. 141.16 Section 141.16 Indians BUREAU OF... AND ZUNI RESERVATIONS General Business Practices § 141.16 Price marking. The price of each article... visible to the customer and that affords the customer a reasonable opportunity to learn the price of the...

  17. 7 CFR 1126.54 - Equivalent price.

    Science.gov (United States)

    2010-01-01

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

  18. 7 CFR 1131.54 - Equivalent price.

    Science.gov (United States)

    2010-01-01

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

  19. 7 CFR 1005.54 - Equivalent price.

    Science.gov (United States)

    2010-01-01

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

  20. 7 CFR 1033.54 - Equivalent price.

    Science.gov (United States)

    2010-01-01

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

  1. Price Transmission Asymmetry in Pork and Beef Markets

    OpenAIRE

    Hahn, William F.

    1990-01-01

    Farm, wholesale, and retail prices for beef and pork show significant evidence of asymmetric price interactions. All prices display greater sensitivity to price-increasing shocks than to price-decreasing shocks. The farm beef price, in particular, reacts faster to wholesale price increases than to whole sale price decreases.

  2. Price and consumption of tobacco

    Directory of Open Access Journals (Sweden)

    Virendra Singh

    2012-01-01

    Full Text Available Background: It is thought that price increase in tobacco products leads to reduced consumption. Though many studies have substantiated this concept, it has not been well studied in India. Recently, price of tobacco products was increased due to ban on plastic sachets of chewing tobacco and increased tax in Rajasthan. This study was designed to evaluate the effect of price rise on overall consumption of tobacco in Jaipur city, Rajasthan. Materials and Methods: This study was carried out in Jaipur city. Two-staged stratified sampling was used. In the first phase of study, cost and consumption of various tobacco products in the months of February and April were enquired from 25 retail tobacco shops. In the second phase, tobacco consumption was enquired from 20 consecutive consumers purchasing any tobacco product from all the above retail tobacco shops. The data were statistically analyzed using descriptive statistics and paired "t" test. Results: The comparison of prices of tobacco products between February and April revealed that the price of cigarette, bidi, and chewing tobacco has increased by 19%, 21%, and 68%, respectively. Average decrease in sales of cigarettes, bidi, and chewing tobacco at shops included in the study were 14%, 23%, and 38%, respectively. The consumers purchasing tobacco also reported decreased consumption. Chewing tobacco showed the maximum reduction (21%. Consumption of cigarette and bidi has also reduced by 15% and 13%, respectively. Conclusion: It may be concluded that reduction in consumption is associated with increased price of tobacco products. Reduced consumption is comparative to the magnitude of price increase.

  3. Study on the expectation differences between the both sides of farmland transfer at the level of farmer

    Science.gov (United States)

    Yang, Liyong; Liu, Dejiang; Qiu, Cheng; Wu, Xianhua

    2017-12-01

    The expected consistency between the both sides of farmland transfer is the key to the success or failure of transfer. We use the participatory rural appraisal method, carry out a questionnaire survey of farmers in Yunnan Province, and analysis empirically the expectation differences on the will, price, duration, objects and contract between the both sides of farmland transfer. The research shows that: farmers in the suburban village tend to be willing to transfer out rather than transfer in, while farmers in the outer suburbs village tend to prefer to transfer in rather than transfer out. They are relatively small in the expectation of will, duration, objects and contract between the both sides of farmland transfer, and the transfer price "gap" is the most important factor that impedes the farmland transfer. Measures should be taken to promote the farmland transfer from three aspects, such as the promotion of farmland protection regulations, the establishment and improvement of transfer institutions and the opening of transfer price.

  4. Biomechanics principles and practices

    CERN Document Server

    Peterson, Donald R

    2014-01-01

    Presents Current Principles and ApplicationsBiomedical engineering is considered to be the most expansive of all the engineering sciences. Its function involves the direct combination of core engineering sciences as well as knowledge of nonengineering disciplines such as biology and medicine. Drawing on material from the biomechanics section of The Biomedical Engineering Handbook, Fourth Edition and utilizing the expert knowledge of respected published scientists in the application and research of biomechanics, Biomechanics: Principles and Practices discusses the latest principles and applicat

  5. Fusion research principles

    CERN Document Server

    Dolan, Thomas James

    2013-01-01

    Fusion Research, Volume I: Principles provides a general description of the methods and problems of fusion research. The book contains three main parts: Principles, Experiments, and Technology. The Principles part describes the conditions necessary for a fusion reaction, as well as the fundamentals of plasma confinement, heating, and diagnostics. The Experiments part details about forty plasma confinement schemes and experiments. The last part explores various engineering problems associated with reactor design, vacuum and magnet systems, materials, plasma purity, fueling, blankets, neutronics

  6. Insights: Simple Models for Teaching Equilibrium and Le Chatelier's Principle.

    Science.gov (United States)

    Russell, Joan M.

    1988-01-01

    Presents three models that have been effective for teaching chemical equilibrium and Le Chatelier's principle: (1) the liquid transfer model, (2) the fish model, and (3) the teeter-totter model. Explains each model and its relation to Le Chatelier's principle. (MVL)

  7. Sources of Funding and Academic Performance in Economics Principles Courses

    Science.gov (United States)

    Faulk, Dagney; Srinivasan, Arun K.; Bingham, Jon

    2012-01-01

    The authors examine two factors that may affect student achievement in economics principles courses: working for pay and the primary source of funds (employer tuition reimbursement, loans, scholarships, financial aid, self-financing, parental transfers, other) used to pay for college for a sample of students in economics principles classes at a…

  8. An electricity price model with consideration to load and gas price effects.

    Science.gov (United States)

    Huang, Min-xiang; Tao, Xiao-hu; Han, Zhen-xiang

    2003-01-01

    Some characteristics of the electricity load and prices are studied, and the relationship between electricity prices and gas (fuel) prices is analyzed in this paper. Because electricity prices are strongly dependent on load and gas prices, the authors constructed a model for electricity prices based on the effects of these two factors; and used the Geometric Mean Reversion Brownian Motion (GMRBM) model to describe the electricity load process, and a Geometric Brownian Motion(GBM) model to describe the gas prices; deduced the price stochastic process model based on the above load model and gas price model. This paper also presents methods for parameters estimation, and proposes some methods to solve the model.

  9. Risk assessment of new pricing strategies in the district heating market

    International Nuclear Information System (INIS)

    Bjoerkqvist, Olof; Idefeldt, Jim; Larsson, Aron

    2010-01-01

    The price structure of district heating has been no major scientific issue for the last decades in energy-related research. However, today trends in district heating pricing tend to move towards a more customer-oriented approach with predetermined prices under a longer periods, leading to a more complex price structure. If a district heating supplier offers district heating with predetermined prices in order to compete with similar electricity offers, the financial risk of the new price structure is significantly higher than the risk of an ordinary variable cost offer based on short-run marginal cost. In contrary to an electricity seller, the district heating company cannot transfer all of the risk of predetermined prices to the financial market, instead the company is thrown upon its own ability to handle the risk by, e.g., hedging its own energy purchase. However, all uncertainties cannot be coped with in this manner. Thus, there is a need for a methodology that can be used to estimate the financial risk of different price structures and to value different opportunities to reduce the risk. In this article, we propose a methodology, implemented in prototype software, to evaluate the risk associated with new price structures in district heating.

  10. Database principles programming performance

    CERN Document Server

    O'Neil, Patrick

    2014-01-01

    Database: Principles Programming Performance provides an introduction to the fundamental principles of database systems. This book focuses on database programming and the relationships between principles, programming, and performance.Organized into 10 chapters, this book begins with an overview of database design principles and presents a comprehensive introduction to the concepts used by a DBA. This text then provides grounding in many abstract concepts of the relational model. Other chapters introduce SQL, describing its capabilities and covering the statements and functions of the programmi

  11. Principles of ecotoxicology

    National Research Council Canada - National Science Library

    Walker, C. H

    2012-01-01

    "Now in its fourth edition, this exceptionally accessible text provides students with a multidisciplinary perspective and a grounding in the fundamental principles required for research in toxicology today...

  12. Price trends for electricity and emission rights, as well as for international fuel markets[English language summary of a Swedish report

    Energy Technology Data Exchange (ETDEWEB)

    Sommer, Christian; Filipsson, Erik; Kaerrmarck, Urban; Larsson, Marcus; Lindberg, Carola; Bohnstedt, Sophie

    2005-07-01

    within the EU is of crucial importance for the market price of emission rights since it almost entirely defines the supply on the market. The free allocation to individual existing plants, however, has almost no significance in principle for the price of electricity, since the price-setting marginal producer always has the option of ceasing to generate electricity and thereby profiting from the full value of the emission rights. There is a considerable body of evidence suggesting that the European system of trading in emission rights is achieving its purpose, that of creating incentives for the cost effective reduction in emissions within the EU to meet the EU's joint emission targets. There is no evidence that the present price levels for electricity and emission rights are unjustified on the basis of the fundamental factors governing the prices. It was expected that the trading system would result in higher prices, even though the price levels seen so far have been higher than most experts had predicted. The increase in electricity prices is leading to a transfer of wealth from industries which are electricity-intensive and from households to the energy sector. At the same time, it is creating incentives to improve the efficiency of electricity consumption and to invest in renewable energy. The profitability of electricity generation based on the most carbon dioxide-intensive fuels and the least energy-efficient technologies has deteriorated sharply as a result of the introduction of the trading system. In the long run, a global trading system is necessary to avoid electricity-intensive industry in Europe being put at a competitive disadvantage against countries without equivalent restrictions. In the longer term, the EU's emission rights trading system should be extended so that all operations exposed to competition face the same requirements for emission reductions. If this is not done, the rise in electricity prices will constitute a potential threat to

  13. World coal prices and future energy demand

    International Nuclear Information System (INIS)

    Bennett, J.

    1992-01-01

    The Clean Air Act Amendments will create some important changes in the US domestic steam coal market, including price increases for compliance coal by the year 2000 and price decreases for high-sulfur coal. In the international market, there is likely to be a continuing oversupply which will put a damper on price increases. The paper examines several forecasts for domestic and international coal prices and notes a range of predictions for future oil prices

  14. 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...

  15. Price discrimination and business-cycle risk

    OpenAIRE

    Marco Cornia; Kristopher S. Gerardi; Adam Hale Shapiro

    2011-01-01

    A parsimonious theoretical model of second degree price discrimination suggests that the business cycle will affect the degree to which firms are able to price-discriminate between different consumer types. We analyze price dispersion in the airline industry to assess how price discrimination can expose airlines to aggregate-demand fluctuations. Performing a panel analysis on seventeen years of data covering two business cycles, we find that price dispersion is highly procyclical. Estimates s...

  16. Estimating Hedonic Prices for Stellenbosch wine

    OpenAIRE

    Sanja Lutzeyer

    2008-01-01

    This paper estimates a hedonic price function for Stellenbosch wines to determine the association between market value and different characteristics of these wines. In such a hedonic price function, the price of a bottle of wine is ascribed to the implicit value of its attributes. Besides contributing to both South African and international wine pricing literature, the benefits of developing a hedonic wine pricing model extend to numerous players in the wine industry. Consumers are provided w...

  17. Illustrations of Price Discrimination in Baseball

    OpenAIRE

    Daniel, Rascher; Andrew, Schwarz

    2010-01-01

    Price discrimination of this nature, focused on differing degrees of quality, bundled goods, volume discounts, and other forms of second-degree price discrimination, is commonplace in MLB. Indeed, it is safe to say that every single MLB ticket is sold under some form of price discrimination. As teams grow increasingly sophisticated in their pricing strategies, price discrimination is becoming more precise, more wide-spread, and more profitable, while at the same time providing for more oppo...

  18. Recovering a time-homogeneous stock price process from perpetual option prices

    OpenAIRE

    Ekström, Erik; Hobson, David

    2009-01-01

    It is well known how to determine the price of perpetual American options if the underlying stock price is a time-homogeneous diffusion. In the present paper we consider the inverse problem, that is, given prices of perpetual American options for different strikes, we show how to construct a time-homogeneous stock price model which reproduces the given option prices.

  19. 48 CFR 216.203 - Fixed-price contracts with economic price adjustment.

    Science.gov (United States)

    2010-10-01

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

  20. 48 CFR 3016.203 - Fixed price contracts with economic price adjustments.

    Science.gov (United States)

    2010-10-01

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