WorldWideScience

Sample records for wellhead prices

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

    Energy Technology Data Exchange (ETDEWEB)

    Weijermars, Ruud, E-mail: R.Weijermars@TUDelft.nl [Alboran Energy Strategy Consultants and Department of Geotechnology, Delft University of Technology (Netherlands)

    2011-10-15

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

  2. Wellhead compression

    Energy Technology Data Exchange (ETDEWEB)

    Harrington, Joe [Sertco Industries, Inc., Okemah, OK (United States); Vazquez, Daniel [Hoerbiger Service Latin America Inc., Deerfield Beach, FL (United States); Jacobs, Denis Richard [Hoerbiger do Brasil Industria de Equipamentos, Cajamar, SP (Brazil)

    2012-07-01

    Over time, all wells experience a natural decline in oil and gas production. In gas wells, the major problems are liquid loading and low downhole differential pressures which negatively impact total gas production. As a form of artificial lift, wellhead compressors help reduce the tubing pressure resulting in gas velocities above the critical velocity needed to surface water, oil and condensate regaining lost production and increasing recoverable reserves. Best results come from reservoirs with high porosity, high permeability, high initial flow rates, low decline rates and high total cumulative production. In oil wells, excessive annulus gas pressure tends to inhibit both oil and gas production. Wellhead compression packages can provide a cost effective solution to these problems by reducing the system pressure in the tubing or annulus, allowing for an immediate increase in production rates. Wells furthest from the gathering compressor typically benefit the most from wellhead compression due to system pressure drops. Downstream compressors also benefit from higher suction pressures reducing overall compression horsepower requirements. Special care must be taken in selecting the best equipment for these applications. The successful implementation of wellhead compression from an economical standpoint hinges on the testing, installation and operation of the equipment. Key challenges and suggested equipment features designed to combat those challenges and successful case histories throughout Latin America are discussed below.(author)

  3. Wellhead with non-ferromagnetic materials

    Energy Technology Data Exchange (ETDEWEB)

    Hinson, Richard A [Houston, TX; Vinegar, Harold J [Bellaire, TX

    2009-05-19

    Wellheads for coupling to a heater located in a wellbore in a subsurface formation are described herein. At least one wellhead may include a heater located in a wellbore in a subsurface formation; and a wellhead coupled to the heater. The wellhead may be configured to electrically couple the heater to one or more surface electrical components. The wellhead may include at least one non-ferromagnetic material such that ferromagnetic effects are inhibited in the wellhead. Systems and methods for using such wellheads for treating a subsurface formation are described herein.

  4. GASCAP: Wellhead Gas Productive Capacity Model documentation, June 1993

    Energy Technology Data Exchange (ETDEWEB)

    1993-07-01

    The Wellhead Gas Productive Capacity Model (GASCAP) has been developed by EIA to provide a historical analysis of the monthly productive capacity of natural gas at the wellhead and a projection of monthly capacity for 2 years into the future. The impact of drilling, oil and gas price assumptions, and demand on gas productive capacity are examined. Both gas-well gas and oil-well gas are included. Oil-well gas productive capacity is estimated separately and then combined with the gas-well gas productive capacity. This documentation report provides a general overview of the GASCAP Model, describes the underlying data base, provides technical descriptions of the component models, diagrams the system and subsystem flow, describes the equations, and provides definitions and sources of all variables used in the system. This documentation report is provided to enable users of EIA projections generated by GASCAP to understand the underlying procedures used and to replicate the models and solutions. This report should be of particular interest to those in the Congress, Federal and State agencies, industry, and the academic community, who are concerned with the future availability of natural gas.

  5. 30 CFR 250.617 - Tubing and wellhead equipment.

    Science.gov (United States)

    2010-07-01

    ... wellhead, all annuli (A, B, C, D, etc., annuli). (ii) subsea wells, the tubing head, the production casing... mudline for casing pressure. *Characterized as a well drilled with a subsea wellhead and completed with a... designed, installed, used, maintained, and tested so as to achieve and maintain pressure control. The...

  6. Wellhead anti-frost technology using deep mine geothermal energy

    Institute of Scientific and Technical Information of China (English)

    Guo Pingye; He Manchao; Yang Qin; Chen Chen

    2011-01-01

    The auxiliary shaft is an important location for coal mine heating in the winter,where the main purpose of heating is to prevent icing of the shaft.Wellhead heating requires characteristics of openness,no-noise and big heat loads.The original coal-fired boiler heating mode causes significant waste of energy and environmental pollution due to the low efficiency of the heat exchange.Therefore,to solve these problems,we will use deep mine geothermal energy to heat the wellhead by making full use of its negative pressure field and design a low-temperature water and fan-free heating system.Through numerical calculations we will simulate temperature fields,pressure fields and velocity fields under different air supply temperatures,as well as different air supply outlet locations and varying number of radiators in the wellhead room of a new auxiliary shaft to find the proper layout and number of radiators that meet wellhead anti-frost requirements from our simulation results,in order to provide guidelines for a practical engineering design.Tests on the Zhangshuanglou auxiliary shaft wellhead shows good,look promising and appear to resolve successfully the problem of high energy consumption and high pollution of wellhead heating by a coal-fired boiler.

  7. HGP-A wellhead generator proof-of-feasibility project

    Energy Technology Data Exchange (ETDEWEB)

    1978-11-03

    The HGP-A Wellhead Generator Proof-of-Feasibility Project consists of a nominal 3 Megawatt geothermal steam turbine electric power generating facility, the first geothermal power plant in Hawaii. The plant is being constructed as a research and development project to evaluate geothermal steam as a viable resource to be considered for larger commercial electric power generating stations in Hawaii. The project facilities include a turbine building, with a contiguous service area for plant operations and maintenance, visitor center, and the power plant equipment.

  8. PRICE AND PRICING STRATEGIES

    OpenAIRE

    Titus SUCIU

    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...

  9. PRICE AND PRICING STRATEGIES

    OpenAIRE

    Titus SUCIU

    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...

  10. Prices and Price Setting

    NARCIS (Netherlands)

    R.P. Faber (Riemer)

    2010-01-01

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

  11. 77 FR 71788 - Notice of Change to the Publication of Natural Gas Wellhead Prices

    Science.gov (United States)

    2012-12-04

    ..., marketers, and consumers along the natural gas value chain, as well as to the heterogeneity of natural gas... nonhydrocarbon gases. Natural gas production and revenue data supplied by the states is not sufficiently detailed... about the natural gas value chain leading to the market hub would likely be burdensome, and...

  12. INITIAL CHEMICAL AND RESERVOIR CONDITIONS AT LOS AZUFRES WELLHEAD POWER PLANT STARTUP

    Energy Technology Data Exchange (ETDEWEB)

    Kruger, P.; Semprini, L.; Verma, S.; Barragan, R.; Molinar, R.; Aragon, A.; Ortiz, J.; Miranda, C.

    1985-01-22

    One of the major concerns of electric utilities in installing geothermal power plants is not only the longevity of the steam supply, but also the potential for changes in thermodynamic properties of the resource that might reduce the conversion efficiency of the design plant equipment. Production was initiated at Los Azufres geothermal field with wellhead generators not only to obtain electric energy at a relatively early date, but also to acquire needed information about the resource so that plans for large central power plants could be finalized. Commercial electric energy production started at Los Azufres during the summer of 1982 with five 5-MWe wellhead turbine-generator units. The wells associated with these units had undergone extensive testing and have since been essentially in constant production. The Los Azufres geothermal reservoir is a complex structural and thermodynamic system, intersected by at least 4 major parallel faults and producing geothermal fluids from almost all water to all steam. The five wellhead generators are associated with wells of about 30%, 60%, and 100% steam fraction. A study to compile existing data on the chemical and reservoir conditions during the first two years of operation has been completed. Data have been compiled on mean values of wellhead and separator pressures, steam and liquid flowrates, steam fraction, enthalpy, and pertinent chemical components. The compilation serves both as a database of conditions during the start-up period and as an initial point to observe changes with continued and increased production. Current plans are to add additional wellhead generators in about two years followed by central power plants when the data have been sufficiently evaluated for optimum plant design. During the next two years, the data acquired at the five 5-MWe wellhead generator units can be compared to this database to observe any significant changes in reservoir behavior at constant production.

  13. Marine magnetic studies over a lost wellhead in Palk Bay, Cauvery Basin, India

    Digital Repository Service at National Institute of Oceanography (India)

    Ramana, M.V.; Subrahmanyam, V.; Sarma, K.V.L.N.S.; Seshavataram, B.T.V.

    Close grid marine magnetic surveys in the vicinity of a drill well site PH 9-1 in Palk Bay revealed that the area is characterized by smooth magnetic field except for a local anomaly caused by a lost wellhead. The smooth magnetic field is attributed...

  14. A Lift-Off-Tolerant Magnetic Flux Leakage Testing Method for Drill Pipes at Wellhead

    Science.gov (United States)

    Wu, Jianbo; Fang, Hui; Li, Long; Wang, Jie; Huang, Xiaoming; Kang, Yihua; Sun, Yanhua; Tang, Chaoqing

    2017-01-01

    To meet the great needs for MFL (magnetic flux leakage) inspection of drill pipes at wellheads, a lift-off-tolerant MFL testing method is proposed and investigated in this paper. Firstly, a Helmholtz coil magnetization method and the whole MFL testing scheme are proposed. Then, based on the magnetic field focusing effect of ferrite cores, a lift-off-tolerant MFL sensor is developed and tested. It shows high sensitivity at a lift-off distance of 5.0 mm. Further, the follow-up high repeatability MFL probing system is designed and manufactured, which was embedded with the developed sensors. It can track the swing movement of drill pipes and allow the pipe ends to pass smoothly. Finally, the developed system is employed in a drilling field for drill pipe inspection. Test results show that the proposed method can fulfill the requirements for drill pipe inspection at wellheads, which is of great importance in drill pipe safety. PMID:28117721

  15. A Lift-Off-Tolerant Magnetic Flux Leakage Testing Method for Drill Pipes at Wellhead

    Directory of Open Access Journals (Sweden)

    Jianbo Wu

    2017-01-01

    Full Text Available To meet the great needs for MFL (magnetic flux leakage inspection of drill pipes at wellheads, a lift-off-tolerant MFL testing method is proposed and investigated in this paper. Firstly, a Helmholtz coil magnetization method and the whole MFL testing scheme are proposed. Then, based on the magnetic field focusing effect of ferrite cores, a lift-off-tolerant MFL sensor is developed and tested. It shows high sensitivity at a lift-off distance of 5.0 mm. Further, the follow-up high repeatability MFL probing system is designed and manufactured, which was embedded with the developed sensors. It can track the swing movement of drill pipes and allow the pipe ends to pass smoothly. Finally, the developed system is employed in a drilling field for drill pipe inspection. Test results show that the proposed method can fulfill the requirements for drill pipe inspection at wellheads, which is of great importance in drill pipe safety.

  16. Price Discrimination

    OpenAIRE

    Armstrong, Mark

    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. Transfer Pricing

    DEFF Research Database (Denmark)

    Nielsen, Søren Bo

    2014-01-01

    Against a background of rather mixed evidence about transfer pricing practices in multinational enterprises (MNEs) and varying attitudes on the part of tax authorities, this paper explores how multiple aims in transfer pricing can be pursued across four different transfer pricing regimes. A MNE h...

  18. Metal Sealing Performance of Subsea X-tree Wellhead Connector Sealer

    Institute of Scientific and Technical Information of China (English)

    ZHAO Honglin; CHEN Rui; LUO Xiaolan; DUAN Menglan; LU Yinghui; FU Guowei; TIAN Hongping; YE Daohui

    2015-01-01

    The metal sealing performance of subsea X-tree wellhead connectors is crucial for the safety and reliability of subsea X-trees. In order to establish the theoretical relation between metal sealing ring’s contact stress and its structural parameters and working pressure, a mechanical analysis method for double-cone sealing of high pressure vessels is applied in analyzing the metal sealing ring under the condition of preload and operation. As a result, the formula of the unit sealing load for the metal sealing ring under operation with residual preload is shown in this paper, which ensures that the metal sealing ring has an excellent sealing effect and can prevent the metal sealing ring from yielding. Besides, while analyzing the sealing process of the metal sealing ring, the change rule of contact stress and working pressure is concluded here, putting forward that the structural parameters of the metal sealing ring are the major factors affecting the change rule. Finally, the analytical solution through theoretical analysis is compared with the simulation result through finite element analysis in a force feedback experiment, and both are consistent with each other, which fully verifies for the design and calculation theory on metal sealing ring’s contact stress and its structural parameters and working pressure deduced in this paper. The proposed research will be treated as an applicable theory guiding the design of metal seal for subsea X-tree wellhead connectors.

  19. 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...

  20. Pricing Options.

    Science.gov (United States)

    Tenopir, Carol

    1998-01-01

    Presents results of a recent survey of over 100 public and academic libraries about pricing options from online companies. Most options fall into three categories: pay-as-you-go, fixed-rate, and user-based. Results are discussed separately for public and academic libraries and for consortial discounts. Trends in pricing options preferred by…

  1. Effect of Measured Wellhead Parameters and Well Scaling on the Computed Downhole Conditions in Cerro Prieto Wells

    Energy Technology Data Exchange (ETDEWEB)

    Goyal, K.P.; Miller, C.W.; Lippmann, M.J.

    1980-12-16

    This paper is devoted to the discussion of the wellbore model and its describing equations, comparison between the computed and measured pressures and the effect of measured wellhead parameters on the downhole pressures in the well. Finally a wellbore model with multiple inside diameters is discussed and the effect of well scaling on the bottom hole pressures is studied.

  2. 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.

  3. 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.

  4. Fair pricing, and pricing paradoxes

    Directory of Open Access Journals (Sweden)

    Barbara Swart

    2016-05-01

    Full Text Available The St Petersburg Paradox revolves round the determination of a fair price for playing the St Petersburg Game. According to the original formulation, the price for the game is infinite, and, therefore, paradoxical. Although the St Petersburg Paradox can be seen as concerning merely a game, Paul Samuelson (1977 calls it a “fascinating chapter in the history of ideas”, a chapter that gave rise to a considerable number of papers over more than 200 years involving fields such as probability theory and economics. In a paper in this journal, Vivian (2013 undertook a numerical investigation of the St Petersburg Game. In this paper, the central issue of the paradox is identified as that of fair (risk-neutral pricing, which is fundamental in economics and finance and involves important concepts such as no arbitrage, discounting, and risk-neutral measures. The model for the St Petersburg Game as set out in this paper is new and analytical and resolves the so-called pricing paradox by applying a discounting procedure. In this framework, it is shown that there is in fact no infinite price paradox, and simple formulas for obtaining a finite price for the game are also provided.

  5. Coalbed Methane Procduced Water Treatment Using Gas Hydrate Formation at the Wellhead

    Energy Technology Data Exchange (ETDEWEB)

    BC Technologies

    2009-12-30

    Water associated with coalbed methane (CBM) production is a significant and costly process waste stream, and economic treatment and/or disposal of this water is often the key to successful and profitable CBM development. In the past decade, advances have been made in the treatment of CBM produced water. However, produced water generally must be transported in some fashion to a centralized treatment and/or disposal facility. The cost of transporting this water, whether through the development of a water distribution system or by truck, is often greater than the cost of treatment or disposal. To address this economic issue, BC Technologies (BCT), in collaboration with Oak Ridge National Laboratory (ORNL) and International Petroleum Environmental Consortium (IPEC), proposed developing a mechanical unit that could be used to treat CBM produced water by forming gas hydrates at the wellhead. This process involves creating a gas hydrate, washing it and then disassociating hydrate into water and gas molecules. The application of this technology results in three process streams: purified water, brine, and gas. The purified water can be discharged or reused for a variety of beneficial purposes and the smaller brine can be disposed of using conventional strategies. The overall objectives of this research are to develop a new treatment method for produced water where it could be purified directly at the wellhead, to determine the effectiveness of hydrate formation for the treatment of produced water with proof of concept laboratory experiments, to design a prototype-scale injector and test it in the laboratory under realistic wellhead conditions, and to demonstrate the technology under field conditions. By treating the water on-site, producers could substantially reduce their surface handling costs and economically remove impurities to a quality that would support beneficial use. Batch bench-scale experiments of the hydrate formation process and research conducted at ORNL

  6. Subsea thermoelectric generators. 1- 10-watt peltier effect prototypes - a step towards autonomous electrical control units at subsea wellheads

    Energy Technology Data Exchange (ETDEWEB)

    Weid, J.P. von der; Silva, J.A.P. da; Gama, A.L.; Sant' Anna, A.C.

    1994-05-01

    Offshore oil production activities require the operation of underwater hydraulic or electric equipment. The high cost of acquisition and installation of umbilical cables to supply power is leading to the development of independently powered cableless equipment, connected to the surface by the transmission and reception of control signals through the water. As a first step toward these autonomous wellhead control systems, the authors designed and successfully tested in laboratory conditions a thermoelectric generator able to supply at least 10 watts of electric power, extracting it from the temperature difference between the oil and the surrounding water. Hydraulic pumps and pressure accumulators, control electronics, and valve actuators for wellhead control units are all technically solved problems, even for seafloors as deep as 1,000 meters. However, an autonomous underwater wellhead control unit can only be conceived if an energy source is available at the seafloor. The development of a reliable and compact power source is indeed a fundamental step towards autonomous wet Christmas tree valve actuators.

  7. Evaluation of methods for wellhead protection areas for the State of São Paulo

    Directory of Open Access Journals (Sweden)

    Ana Maciel de Carvalho

    2012-04-01

    Full Text Available The wellhead protection areas play an important role in protecting the groundwater quality exploited by public waterwells. There are some methods that allow to define dimensions and shape of contribution zones, that is, the area wherethe entire surface of the aquifer recharge is captured by well, besides zones based on time traffic, defi ned in time wherea particular contaminant can reach the well. Both zones allow gradual control of land use. This paper has presented acomparative study between three different methods in different aquifers of the State of São Paulo. The methods include:calculated fixed radius, based on cylindrical volumetric flow equation; analytical model, using the equation of uniformflow; and numerical model, using mathematical models to simulate the flow. The results showed that each method generateddifferent areas, both in the shapes and in the dimensions. The two first methods established contribution zones withsimilar sizes, but with different shapes and on average 200% bigger than the results from the numeric method, for thesame hydrogeological conditions. From the results, it appears that the use of the analytical model is feasible as a first approximation,since the data for that are now available for almost all public wells in the state, and its accuracy is superiorto the calculated fixed radius method. In a later stage, where the definition of the contribution zones is more sensitive,the numerical model would be the natural alternative.

  8. International test and demonstration of a 1-MW wellhead generator: Helical screw expander power plant

    Science.gov (United States)

    McKay, R. A.

    1984-06-01

    A 1-MW wellhead generator was tested in 1980, 1981, and 1982 by Mexico, Italy, and New Zealand at Cerro Prieto, Cesano, and Broadlands, respectively. The total flow helical screw expander portable power plant, Model 76-1, had been built for the U.S. Government and field-tested in Utah, USA, in 1978 and 1979. The expander had oversized internal clearances designed for self-cleaning operation on fluids that deposit adherent scale normally detrimental to the utiliation of liquid dominated fields. Conditions with which the expander was tested included inlet pressures of 64 to 220 psia, inlet qualities of 0% to 100%, exhaust pressures of 3.1 to 40 psia, electrial loads of idle and 110 to 933 kW, electrical frequencies of 50 and 60 Hz, male rotor speeds of 2500 to 4000 rpm, and fluid characteristics to 310,000 ppm total dissolved solids and noncondensables to 38 wt % of the vapor. Some testing was done on-grid. Typical expander isentropic efficiency was 40% to 50% with the clearances not closed, and 5 percentage points or more higher with the clearances partly closed. The expander efficiency increased approximately logarithmically with shaft power for most operations, while inlet quality, speed, and pressure ratio across the machine had only small effects. These findings are all in agreement with the Utah test results.

  9. Arsenic-related water quality with depth and water quality of well-head samples from production wells, Oklahoma, 2008

    Science.gov (United States)

    Becker, Carol J.; Smith, S. Jerrod; Greer, James R.; Smith, Kevin A.

    2010-01-01

    The U.S. Geological Survey well profiler was used to describe arsenic-related water quality with well depth and identify zones yielding water with high arsenic concentrations in two production wells in central and western Oklahoma that yield water from the Permian-aged Garber-Wellington and Rush Springs aquifers, respectively. In addition, well-head samples were collected from 12 production wells yielding water with historically large concentrations of arsenic (greater than 10 micrograms per liter) from the Garber-Wellington aquifer, Rush Springs aquifer, and two minor aquifers: the Arbuckle-Timbered Hills aquifer in southern Oklahoma and a Permian-aged undefined aquifer in north-central Oklahoma. Three depth-dependent samples from a production well in the Rush Springs aquifer had similar water-quality characteristics to the well-head sample and did not show any substantial changes with depth. However, slightly larger arsenic concentrations in the two deepest depth-dependent samples indicate the zones yielding noncompliant arsenic concentrations are below the shallowest sampled depth. Five depth-dependent samples from a production well in the Garber-Wellington aquifer showed increases in arsenic concentrations with depth. Well-bore travel-time information and water-quality data from depth-dependent and well-head samples showed that most arsenic contaminated water (about 63 percent) was entering the borehole from perforations adjacent to or below the shroud that overlaid the pump. Arsenic concentrations ranged from 10.4 to 124 micrograms per liter in 11 of the 12 production wells sampled at the well head, exceeding the maximum contaminant level of 10 micrograms per liter for drinking water. pH values of the 12 well-head samples ranged from 6.9 to 9. Seven production wells in the Garber-Wellington aquifer had the largest arsenic concentrations ranging from 18.5 to 124 micrograms per liter. Large arsenic concentrations (10.4-18.5) and near neutral to slightly alkaline

  10. The effects that well depth and wellhead protection have on bacterial contamination of private water wells in the Estes Park Valley, Colorado.

    Science.gov (United States)

    Gonzales, Thomas R

    2008-12-01

    Over the past five years, it is estimated that 10% of residential water wells have tested positive for total coliform and 2% for E.coli bacteria in the Estes Park Valley, Colorado. Many of these water wells are shallow or hand-dug in construction. In this study, samplings of 30 private untreated water wells were tested for total coliform bacteria in the Estes Park Valley. Water wells were classified into three categories for well depth (200 feet [61 m]) and for wellhead protection (poor, fair, and good). Results indicated that 71% of the wells less than 199 feet (60.7 m) tested positive for total coliform (chi2 = 15.559, p wells classified as having poor and fair wellhead protection tested positive for total coliform (chi2 = 13.084, p = .001). This study determined that wellhead protection and well depth does play a role in bacterial contamination of water wells.

  11. The Weird Vegetable Price

    Institute of Scientific and Technical Information of China (English)

    2011-01-01

    The Chinese Government faces the task of stabilizing vegetable prices to avoid steep increases and dips Fluctuations of vegetable prices in China have recently caused near panic in the domestic market.Purchase prices for farm produce are decreasing dramatically

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

    Science.gov (United States)

    2010-01-01

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

  13. 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...

  14. 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...

  15. ACCOUNTING ASPECTS OF PRICING AND TRANSFER PRICING

    Directory of Open Access Journals (Sweden)

    TÜNDE VERES

    2011-01-01

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

  16. Exporter Price Premia?

    DEFF Research Database (Denmark)

    Jäkel, Ina Charlotte; Sørensen, Allan

    -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...

  17. 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...

  18. 井口硫化氢气体扩散及检测方法研究%Wellhead Hydrogen Sulfide Gas Diffusion and Detection

    Institute of Scientific and Technical Information of China (English)

    张兴全; 李相方; 李玉军; 徐大融; 马龙; 任美鹏

    2011-01-01

    针对钻井过程中井口溢出的硫化氢气体在大气中扩散且难于检测的问题,建立井口位置流体力学模型.对无风和有风情况下硫化氢的浓度分布进行模拟,并对井口和方井处硫化氢检测方法进行研究.结果表明:无风情况下硫化氢气体容易在方井处积聚,风速对溢出口上部挡板空间硫化氢浓度分布影响很小,对方井处硫化氢浓度影响非常大.针对以上情况,建议在井口处安装倒置放置的扩散武传感器,方井处安装吸入武传感器.从而能更准确检测硫化氢浓度.%Build wellhead position hydrodynamics model , analog the hydrogen sulfide concentration in a condition of no wind or a wind and do researches about testing method of hydrogen sulfide at wellhead and cellar, aimed at hydrogen sulfide spreading and never being easily detected when it spills over from wellhead during drilling wells. It shows that without wind the hydrogen sulfide gas accumulates at the cellar and the speed of wind influents almost nothing on the distribution of the concentration of hydrogen sulfide at the board located in the wellhead and influents much to the hydrogen sulfide concentration at the cellar. Depending on that, a dispersive sensor upside down at the wellhead and a suction sensor at the cellar to test the hydrogen sulfide concentration accurately are suggested place.

  19. Strategic Transfer Pricing

    OpenAIRE

    Michael Alles; Srikant Datar

    1998-01-01

    Most research into cost systems has focused on their motivational implications. This paper takes a different approach, by developing a model where two oligopolistic firms strategically select their cost-based transfer prices. Duopoly models frequently assume that firms game on their choice of prices. Product prices, however, are ultimately based on the firms' transfer prices that communicate manufacturing costs to marketing departments. It is for this reason that transfer prices will have a s...

  20. The Pricing of Payments

    OpenAIRE

    Krueger, Malte

    2009-01-01

    The pricing of payments has received increasing attention of regulators. In many cases, regulators are concerned that consumers do not face cost based prices. They argue that without cost based prices consumers will make inefficient choices. In this paper, it is argued that both, economics of scale and the particular laws governing pricing in two-sided markets provide a case against cost based pricing.

  1. ACCOUNTING ASPECTS OF PRICING AND TRANSFER PRICING

    OpenAIRE

    TÜNDE VERES

    2011-01-01

    The pricing methods in practice need really complex view of the business situation and depend on the strategy and market position of a company. The structure of a price seems simple: cost plus margin. Both categories are special area in the management accounting. Information about the product costs, the allocation methodologies in cost accounting, the analyzing of revenue and different level of the margin needs information from accounting system. This paper analyzes the pricing methods from m...

  2. Accounting Aspects of Pricing and Transfer Pricing

    OpenAIRE

    TÜNDE VERES

    2011-01-01

    The pricing methods in practice need really complex view of the business situation and depend on the strategy and market position of a company. The structure of a price seems simple: cost plus margin. Both categories are special area in the management accounting. Information about the product costs, the allocation methodologies in cost accounting, the analyzing of revenue and different level of the margin needs information from accounting system. This paper analyzes the pricing methods from m...

  3. 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.

  4. Wellhead application of new heavy residue hydroconversion (HRH) process in heavy crude upgrading

    Energy Technology Data Exchange (ETDEWEB)

    Zarkesh, Jamshid; Samimi, A. Kh. [Research Institute of Petroleum Industry (Russian Federation); Khadzhiev, S.; Kadiev, H. [Russian Academy of science (Russian Federation)

    2011-07-01

    In the oil industry, the decline of light crude oil reserves and the price differential between intermediate and heavy oils have made upgrading processes attractive. A new nano catalytic process, the heavy residue hydroconversion (HRH), which converts heavy residue to light product has been developed. HRH is flexible as to feed type and catalyst is mainly recovered and recycled in the process. This study aimed at examining the feasibility of HRH to produce syncrude from heavy crude oil. Three cases of stand-alone HRH plants were investigated: a 20,000 bbl/d plant producing hydrogen from natural gas, another producing hydrogen from residue and a third with a high capacity of 30,000 bbl/d. Results showed that in all three cases the stand-alone HRH plant was economically feasible. This study demonstrated that stand-alone HRH plants are a good alternative for producing syncrude from heavy crude oils.

  5. 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.

  6. Can Deployment of Renewable Energy and Energy Efficiency PutDownward Pressure on Natural Gas Prices

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, Ryan; Bolinger, Mark

    2005-06-01

    High and volatile natural gas prices have increasingly led to calls for investments in renewable energy and energy efficiency. One line of argument is that deployment of these resources may lead to reductions in the demand for and price of natural gas. Many recent U.S.-based modeling studies have demonstrated that this effect could provide significant consumer savings. In this article we evaluate these studies, and benchmark their findings against economic theory, other modeling results, and a limited empirical literature. We find that many uncertainties remain regarding the absolute magnitude of this effect, and that the reduction in natural gas prices may not represent an increase in aggregate economic wealth. Nonetheless, we conclude that many of the studies of the impact of renewable energy and energy efficiency on natural gas prices appear to have represented this effect within reason, given current knowledge. These studies specifically suggest that a 1% reduction in U.S. natural gas demand could lead to long-term average wellhead price reductions of 0.8% to 2%, and that each megawatt-hour of renewable energy and energy efficiency may benefit natural gas consumers to the tune of at least $7.5 to $20.

  7. 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.

  8. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

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

    the joint eects of this reform on prices and quantities. Prices decreased more than 26 percent due to the reform, which reduced patient and government expenditures by 3.0 percent and 5.6 percent, respectively, and producer revenues by 5.0 percent. The prices of expensive products decreased more than...

  9. Valuation Struggles over Pricing

    DEFF Research Database (Denmark)

    Pallesen, Trine

    2016-01-01

    public goods into play, all the while prompting a translation of these values into a single price. Following the struggles over the pricing of wind power in the early 2000s, the study illustrates that rather than a pollution of the market sphere by that of politics, a politics of pricing can be observed...

  10. Dutch house price fundamentals

    NARCIS (Netherlands)

    Haffner, M.E.A.; de Vries, P.

    2009-01-01

    This paper discusses house price developments in the Netherlands, specifically focussing on the question whether current house prices in the Dutch owner-occupied market are likely to decrease. We analyse three aspects of the question based on a literature review: (1) whether there is a house price b

  11. Dutch house price fundamentals

    NARCIS (Netherlands)

    Haffner, M.E.A.; de Vries, P.

    2009-01-01

    This paper discusses house price developments in the Netherlands, specifically focussing on the question whether current house prices in the Dutch owner-occupied market are likely to decrease. We analyse three aspects of the question based on a literature review: (1) whether there is a house price

  12. Deal with price raise

    Institute of Scientific and Technical Information of China (English)

    2004-01-01

    The price raise in natural resources is inevitable. At present, building ceramic industry is facing the pressure brought by price raise in raw material. Marketing directors still hesitate whether the price of ceramic tiles should be raised. The crisis brought by social environment made the employees care-laden.

  13. 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

  14. 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. .

  15. Dutch house price fundamentals

    OpenAIRE

    Haffner, M.E.A.; De Vries, P.

    2009-01-01

    This paper discusses house price developments in the Netherlands, specifically focussing on the question whether current house prices in the Dutch owner-occupied market are likely to decrease. We analyse three aspects of the question based on a literature review: (1) whether there is a house price bubble ready to burst; (2) whether house prices will decline in response to the credit crisis that started in 2007; and (3) whether it is likely that house prices will decrease as a result of reform...

  16. Calculating proper transfer prices

    Energy Technology Data Exchange (ETDEWEB)

    Dorkey, F.C. (Meliora Research Associates, Rochester, NY (United States)); Jarrell, G.A. (Univ. of Rochester, NY (United States))

    1991-01-01

    This article deals with developing a proper transfer pricing method. Decentralization is as American as baseball. While managers laud the widespread benefits of both decentralization and baseball, they often greet the term transfer price policy with a yawn. Since transfer prices are as critical to the success of decentralized firms as good pitchers are to baseball teams, this is quite a mistake on the part of our managers. A transfer price is the price charged to one division for a product or service that another division produced or provided. In many, perhaps most, decentralized organizations, the transfer pricing policies actually used are grossly inefficient and sacrifice the potential advantages of decentralization. Experience shows that far too many companies have transfer pricing policies that cost them significantly in foregone growth and profits.

  17. Price learning during grocery shopping

    DEFF Research Database (Denmark)

    Jensen, Birger Boutrup

    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....

  18. Transition from monopoly pricing to competitive pricing

    Energy Technology Data Exchange (ETDEWEB)

    Perera, L. [Eastern Energy Ltd., Melbourne, VIC (Australia)

    1995-12-31

    The Victorian Government has embarked on a program to restructure the State electricity supply industry, that will be the precursor to reform throughout the whole of Australia. The Government is depending on competition to drive efficiency improvements to both generation and distribution businesses. Retail pricing will be the key determinant to a future assessment of the success or failure of these reforms. The paper examines electricity pricing before and after the restructuring from the viewpoint of a practitioner at the cutting edge of the reform process. Economic rationale is put forward why the Value Proposition will replace the Cost Recovery basis previously used in electricity pricing. It is concluded that limitations of interstate links will temper intestate competition unless innovative solution can be found. The current method of setting market prices based on a `Pool System` is only efficient if the generators bid their marginal price on a regular basis. In essence the pool replaces the `merit order` previously used to load generators and is basically a scheduling mechanism. Serious consideration needs to be given to the question whether this mechanism should be also setting the price of electricity. (author). 5 tabs.

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

    Directory of Open Access Journals (Sweden)

    Panasenko Tetyana

    2015-11-01

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

  20. 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.

  1. Optimal Asset Pricing

    Directory of Open Access Journals (Sweden)

    Rolf Turner

    2014-07-01

    Full Text Available We describe an R package for determining the optimal price of an asset which is perishable in a certain sense, given the intensity of customer arrivals and a time-varying price sensitivity function which speci?es the probability that a customer will purchase an asset o?ered at a given price at a given time. The package deals with the case of customers arriving in groups, with a probability distribution for the group size being speci?ed. The methodology and software allow for both discrete and continuous pricing. The class of possible models for price sensitivity functions is very wide, and includes piecewise linear models. A mechanism for constructing piecewise linear price sensitivity functions is provided.

  2. Customizing Prices in Online Markets

    OpenAIRE

    Reinartz, Werner

    2002-01-01

    Dynamic pricing is the dynamic adjustment of prices to consumers depending on the value these customers attribute to a good. Underlying the concept of dynamic pricing is what marketers call price customization. Price customization is the charging of different prices to end consumers based on a discriminatory variable. Internet technology will serve as a great enabling tool for making dynamic pricing accessible to many industries.

  3. Stackelberg Network Pricing Games

    CERN Document Server

    Briest, Patrick; Krysta, Piotr

    2008-01-01

    We study a multi-player one-round game termed Stackelberg Network Pricing Game, in which a leader can set prices for a subset of $m$ priceable edges in a graph. The other edges have a fixed cost. Based on the leader's decision one or more followers optimize a polynomial-time solvable combinatorial minimization problem and choose a minimum cost solution satisfying their requirements based on the fixed costs and the leader's prices. The leader receives as revenue the total amount of prices paid by the followers for priceable edges in their solutions, and the problem is to find revenue maximizing prices. Our model extends several known pricing problems, including single-minded and unit-demand pricing, as well as Stackelberg pricing for certain follower problems like shortest path or minimum spanning tree. Our first main result is a tight analysis of a single-price algorithm for the single follower game, which provides a $(1+\\epsilon) \\log m$-approximation for any $\\epsilon >0$. This can be extended to provide a ...

  4. Relating price strategies and price-setting practices

    NARCIS (Netherlands)

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

    2013-01-01

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

  5. Effect of Energy Efficiency Standards on Natural Gas Prices

    Energy Technology Data Exchange (ETDEWEB)

    Carnall, Michael; Dale, Larry; Lekov, Alex

    2011-07-26

    in its price as seen at the wellhead (Wiser 2007). The magnitude of the effect on price relative to the demand reduction, and the mechanism through which it occurs, is less well established. This report attempts to quantify the potential effects of reduced demand for natural gas in the residential sector, in response to the implementation of an energy efficiency standard for water heaters.

  6. Modeling UK Natural Gas Prices when Gas Prices Periodically Decouple from the Oil Price

    OpenAIRE

    2015-01-01

    When natural gas prices are subject to periodic decoupling from oil prices, for instance due to peak-load pricing, conventional linear models of price dynamics such as the Vector Error Correction Model (VECM) can lead to erroneous inferences about cointegration relationships, price adjustments and relative values. We propose the use of regime-switching models to address these issues. Our regime switching model uses price data to infer whether pricing is oil-driven (integrated) or gas-specific...

  7. 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....

  8. 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…

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

    Energy Technology Data Exchange (ETDEWEB)

    Henriques, Irene; Sadorsky, Perry [Schulich School of Business, 4700 Keele Street, Toronto, Ontario (Canada)

    2008-05-15

    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)

  10. House Prices and Taxes

    DEFF Research Database (Denmark)

    Gjedsted Nielsen, Mads

    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 o...

  11. Manufacturer's Suggested Retail Prices

    NARCIS (Netherlands)

    Rosenkranz, S.

    2003-01-01

    Based on arguments of the `reference- dependent' theory of consumer choice we assume that a retailer's discount of a manufacturer's suggested retail price changes consumers' demand. We can show that the producer benefits from suggesting a retail price. If consumers are additionally sufficiently `los

  12. 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 t...

  13. Natural Gas Price Rises

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    @@ As was projected in the third-quarter monetary policy implementation report published by the People's Bank of China on November 15th, 2006, the residents' consumption price index in China would reach 1.5% in 2006. Prices of consumer commodities such as water, power and natural gas would rise and the pressure of inflation would persist in the future.

  14. Cotton Pricing Discussion

    Institute of Scientific and Technical Information of China (English)

    2010-01-01

    @@ Cotton prices have received a lot of attention recently.Cotton Incorporated especically designed this Special Edition of Supply Chain Insights to frame the discussion concerning prices throughout the cotton supply chain in terms of the cyclical events that contributed to recent volatility and how a return to long-term averages over time can be expected.

  15. Essays on asset pricing

    NARCIS (Netherlands)

    Nazliben, Kamil

    2015-01-01

    The dissertation consists of three chapters that represent separate papers in the area of asset pricing. The first chapter studies investors optimal asset allocation problem in which mean reversion in stock prices is captured by explicitly modeling transitory and permanent shocks. The second chapter

  16. 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

  17. ALTERNATE PRICING STRATEGIES IN CONSTRUCTION

    Directory of Open Access Journals (Sweden)

    Krishna Mochtar

    2000-01-01

    Full Text Available Recent research findings on pricing strategies both in general and in construction are reviewed and explored. First%2C pricing strategy in general%2C mostly in the manufacturing industry%2C is reviewed. It includes the concepts of pricing strategy%2C predatory pricing%2C price wars%2C and price policy development. Second%2C pricing strategy in construction is explored. It includes various pricing models for bid price determination%2C such as the Friedman-Gates models%2C expected utility models%2C risk-pricing model%2C and the crew-day%2C multiple regression%2C and fuzzy-set pricing models. In conclusion%2C pricing strategies in construction are still predominantly based on a cost-based approach. More recent models try to close the gap between the models and the real life conditions of a bidder%5C%27s decision-making process. It appears that there are more problems in cost-based pricing as opposed to market-based pricing. Consequently%2C it is highly recommended that%2C alternative pricing approach such as that are closer to the proposed market-based pricing model need to be explored and developed for use in the construction industry. Abstract in Bahasa Indonesia : Pricing+strategy%2C+cost-based+pricing%2C+market-based+pricing.

  18. 7 CFR 1030.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  19. A Framework for Price Statistics

    OpenAIRE

    Kimberly D. Zieschang

    2000-01-01

    This paper describes the primary framework associating the four principal price indices in the system of economic statistics—the Producer Price Index (PPI), the Consumer Price Index (CPI), and the Export and Import Price Indices (XPI and MPI)—with the macroeconomic value aggregates they decompose into price and volume components. The paper begins by defining the basic algebra of price indices. It then discusses the definition of the value aggregates comprising the goods and services component...

  20. Asset Pricing - A Brief Review

    OpenAIRE

    Li, Minqiang

    2010-01-01

    I first introduce the early-stage and modern classical asset pricing and portfolio theories. These include: the capital asset pricing model (CAPM), the arbitrage pricing theory (APT), the consumption capital asset pricing model (CCAPM), the intertemporal capital asset pricing model (ICAPM), and some other important modern concepts and techniques. Finally, I discuss the most recent development during the last decade and the outlook in the field of asset pricing.

  1. Tourism Equilibrium Price Trends

    Directory of Open Access Journals (Sweden)

    Mohammad Mohebi

    2012-01-01

    Full Text Available Problem statement: A review of the tourism history shows that tourism as an industry was virtually unknown in Malaysia until the late 1960s. Since then, it has developed and grown into a major industry, making an important contribution to the country's economy. By allocating substantial funds to the promotion of tourism and the provision of the necessary infrastructure, the government has played an important role in the impressive progress of the Malaysian tourism industry. One of the important factors which can attract tourists to Malaysia is the tourism price. Has the price of tourism decreased? To answer this question, it is necessary to obtain the equilibrium prices as well as the yearly trend for Malaysia during the sample period as it will be useful for analysis of the infrastructure situation of the tourism industry in this country. The purpose of the study is to identify equilibrium tourism price trends in Malaysian tourism market. Approach: We use hotel room as representative of tourism market. Quarterly data from 1995-2009 are used and a dynamic model of simultaneous equation is employed. Results: Based on the result during the period of 1995 until 2000, the growth rate of the equilibrium price was greater than consumer price index and producer price index. Conclusion: In the Malaysian tourism market, new infrastructure during this period had not been developed to keep pace with tourist arrivals.

  2. 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.

  3. Approximate option pricing

    Energy Technology Data Exchange (ETDEWEB)

    Chalasani, P.; Saias, I. [Los Alamos National Lab., NM (United States); Jha, S. [Carnegie Mellon Univ., Pittsburgh, PA (United States)

    1996-04-08

    As increasingly large volumes of sophisticated options (called derivative securities) are traded in world financial markets, determining a fair price for these options has become an important and difficult computational problem. Many valuation codes use the binomial pricing model, in which the stock price is driven by a random walk. In this model, the value of an n-period option on a stock is the expected time-discounted value of the future cash flow on an n-period stock price path. Path-dependent options are particularly difficult to value since the future cash flow depends on the entire stock price path rather than on just the final stock price. Currently such options are approximately priced by Monte carlo methods with error bounds that hold only with high probability and which are reduced by increasing the number of simulation runs. In this paper the authors show that pricing an arbitrary path-dependent option is {number_sign}-P hard. They show that certain types f path-dependent options can be valued exactly in polynomial time. Asian options are path-dependent options that are particularly hard to price, and for these they design deterministic polynomial-time approximate algorithms. They show that the value of a perpetual American put option (which can be computed in constant time) is in many cases a good approximation to the value of an otherwise identical n-period American put option. In contrast to Monte Carlo methods, the algorithms have guaranteed error bounds that are polynormally small (and in some cases exponentially small) in the maturity n. For the error analysis they derive large-deviation results for random walks that may be of independent interest.

  4. Six Sigma pricing.

    Science.gov (United States)

    Sodhi, ManMohan S; Sodhi, Navdeep S

    2005-05-01

    Many companies are now good at managing costs and wringing out manufacturing efficiencies. The TQM movement and the disciplines of Six Sigma have seen to that. But the discipline so often brought to the cost side of the business equation is found far less commonly on the revenue side. The authors describe how a global manufacturer of industrial equipment, which they call Acme Incorporated, recently applied Six Sigma to one major revenue related activity--the price-setting process. It seemed to Acme's executives that pricing closely resembled many manufacturing processes. So, with the help of a Six Sigma black belt from manufacturing, a manager from Acme's pricing division recruited a team to carry out the five Six Sigma steps: Define what constitutes a defect. At Acme, a defect was an item sold at an unauthorized price. Gather data and prepare it for analysis. That involved mapping out the existing pricing-agreement process. Analyze the data. The team identified the ways in which people failed to carry out or assert effective control at each stage. Recommend modifications to the existing process. The team sought to decrease the number of unapproved prices without creating an onerous approval apparatus. Create controls. This step enabled Acme to sustain and extend the improvements in its pricing procedures. As a result of the changes, Acme earned dollar 6 million in additional revenue on one product line alone in the six months following implementation--money that went straight to the bottom line. At the same time, the company removed much of the organizational friction that had long bedeviled its pricing process. Other companies can benefit from Acme's experience as they look for ways to exercise price control without alienating customers.

  5. Probabilistic Risk Analysis and Fault Trees as Tools in Improving the Delineation of Wellhead Protection Areas: An Initial Discussion

    Science.gov (United States)

    Rodak, C. M.; Silliman, S. E.

    2010-12-01

    Delineation of a wellhead protection area (WHPA) is a critical component of managing / protecting the aquifer(s) supplying potable water to a public water-supply well. While a number of previous authors have addressed questions related to uncertainties in advective capture zones, methods for assessing WHPAs in the presence of uncertainty in the chemistry of groundwater contaminants, the relationship between land-use and contaminant sources, and the impact on health risk within the receiving population are more limited. Probabilistic risk analysis (PRA) combined with fault trees (FT) addresses this latter challenge by providing a structure whereby four key WHPA issues may be addressed: (i) uncertainty in land-use practices and chemical release, (ii) uncertainty in groundwater flow, (iii) variability in natural attenuation properties (and/or remediation) of the contaminants, and (iv) estimated health risk from contaminant arrival at a well. The potential utility of PRA-FT in this application is considered through a simplified case study involving management decisions related both to regional land use planning and local land-use zoning regulation. An application-specific fault tree is constructed to visualize and identify the events required for health risk failure at the well and a Monte Carlo approach is used to create multiple realizations of groundwater flow and chemical transport to a well in a model of a simple, unconfined aquifer. Model parameters allowed to vary during this simplified case study include hydraulic conductivity, probability of a chemical spill (related to land use variation in space), and natural attenuation through variation in rate of decay of the contaminant. Numerical results are interpreted in association with multiple land-use management scenarios as well as multiple cancer risk assumptions regarding the contaminant arriving at the well. This case study shows significant variability of health risk at the well, however general trends were

  6. 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 t...... growth but the relationship is less significant. The finding that food prices in middle-income countries increased the most during the food crises is a cause for concern in light of the fact that the majority of the world's poor today live in middle-income countries....

  7. Pemilihan Model Asset Pricing

    OpenAIRE

    Pasaribu, Rowland Bismark Fernando

    2010-01-01

    The Capital Asset Pricing Model (CAPM) has dominated finance theory for over thirty years; it suggests that the market beta alone is sufficient to explain stock returns. However evidence shows that the cross-section of stock returns cannot be described solely by the one-factor CAPM. Therefore, the idea is to add other factors in order to complete the beta in explaining the price movements in the stock exchange. The Arbitrage Pricing Theory (APT) has been proposed as the first multifactor succ...

  8. Edgeworth Price Cycles, Cost-based Pricing and Sticky Pricing in Retail Gasoline Markets

    OpenAIRE

    Noel, Michael

    2004-01-01

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

  9. 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 pric

  10. 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....

  11. 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...

  12. Pricing and Fee Management.

    Science.gov (United States)

    Fischer, Richard B.

    1986-01-01

    Defines key terms and discusses things to consider when setting fees for a continuing education program. These include (1) the organization's philosophy and mission, (2) certain key variables, (3) pricing strategy options, and (4) the test of reasonableness. (CH)

  13. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

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

    drugs, generics, and parallel imports with health care expenditures and producer revenues decreasing and co-payments increasing most for branded drugs. The reform also induced consumers to substitute from branded drugs – for which they have strong preferences – to generics and parallel imports......Reference prices constitute a main determinant of patient health care reimbursement in many countries. We study the effects of a change from an "external" (based on a basket of prices in other countries) to an "internal" (based on comparable domestic products) reference price system. We find...... that while our estimated consumer compensating variation is small, the reform led to substantial reductions in list and reference prices as well as co-payments, and to sizeable decreases in overall producer revenues, health care expenditures, and co-payments. These effects differ markedly between branded...

  14. Regulation of Pharmaceutical Prices

    DEFF Research Database (Denmark)

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

    2014-01-01

    drugs, generics, and parallel imports with health care expenditures and producer revenues decreasing and co-payments increasing most for branded drugs. The reform also induced consumers to substitute from branded drugs – for which they have strong preferences – to generics and parallel imports......Reference prices constitute a main determinant of patient health care reimbursement in many countries. We study the effects of a change from an "external" (based on a basket of prices in other countries) to an "internal" (based on comparable domestic products) reference price system. We find...... that while our estimated consumer compensating variation is small, the reform led to substantial reductions in list and reference prices as well as co-payments, and to sizeable decreases in overall producer revenues, health care expenditures, and co-payments. These effects differ markedly between branded...

  15. Comparison of Deep Drill Braced Monument (DDBM) and Borehole Strainmeter (BSM) Wellhead GPS antenna mounts: a Plate Boundary Observatory (PBO) case study from Dinsmore, CA

    Science.gov (United States)

    Williams, T. B.; Austin, K. E.; Borsa, A. A.; Feaux, K.; Jackson, M. E.; Johnson, W.; Mencin, D.

    2010-12-01

    With the 2009 installation of GPS station P793 in Dinsmore, CA, the Plate Boundary Observatory (PBO) created a unique opportunity to directly compare a traditional deep drill braced GPS monument (DDBM) with a borehole strainmeter (BSM) wellhead GPS monument. PBO installed a GPS antenna to the wellhead of BSM B935 to perform a direct comparison to DDBM P327 in an attempt to determine stability and long-term behavior of both. The two adjacent stations share power and communications and are roughly 20 meters apart. The steel BSM casing is cemented ~520ft in meta-sandstone & shale, while the DDBM is anchored ~30ft deep in alluvial river gravels. Both stations are located inside a rural auto wrecking yard, which has potential sources of fixed noise in the form of multipath reflections off large metal objects. Preliminary analysis indicates consistent measurements in the North-South component, and a ~3.3 mm difference in the East-West component that has been detected between the two stations over a 450-day period (~2.7 mm/yr). The analysis utilizes standard PBO data products and differences time series data from each station in the SNARF 1.0 and IGS 2005 reference frames. We estimate the time dependent seasonal variations observed at each station and compare with available temperature and precipitation data to attempt to identify the cause of differential movement between the monuments.

  16. Region 9 Wellheads (SDWIS)

    Data.gov (United States)

    U.S. Environmental Protection Agency — EPAâ??s Safe Drinking Water Information System (SDWIS) databases store information about drinking water. The federal version (SDWIS/FED) stores the information EPA...

  17. 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.

  18. Are Fuel Price Hikes Justifiable?

    Institute of Scientific and Technical Information of China (English)

    2009-01-01

    China saw its third fuel price hike this year when the National Development and Reform Commission, China’s top price regulator, hiked gasoline and diesel retail prices up by 9 percent, effective on June 30. It is the second rally in a month after the country initiated a new fuel pricing scheme in May.

  19. Relative Prices and Inflation Stabilisation

    OpenAIRE

    Aoki, Kosuke

    2015-01-01

    When price adjustment is sluggish, inflation is costly in terms of welfare because it distorts various kinds of relative prices. Stabilising aggregate price inflation does not necessarily minimise these costs, but stabilising a well-designed core inflation minimises the cost of relative price fluctuations and thus the cost of inflation.

  20. Equilibrium adjustment of disequilibrium prices

    NARCIS (Netherlands)

    Herings, P.J.J.; van der Laan, G.; Talman, A.J.J.; Venniker, R.

    1994-01-01

    We consider an exchange economy in which price rigidities are present. In the short run the non-numeraire commodities have a exible price level with respect to the numeraire commodity but their relative prices are mutually fixed. In the long run prices are assumed to be completely exible. For a give

  1. Higher fuel and food prices

    DEFF Research Database (Denmark)

    Arndt, Channing; Benfica, Rui; Maximiano, Nelson

    2008-01-01

    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...... 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...

  2. High Drug Prices Hurt Everyone

    OpenAIRE

    Halpenny, Genevieve M.

    2016-01-01

    Turing Pharmaceuticals raised the price of Daraprim 5,500%, illustrating how the absence of competition in the sale of low-volume, low-price drugs can lead to price gouging. For patented medicines, society allows supracompetitive pricing to incentivize innovation. However, Gilead���s decision to sell Sovaldi for $84,000 per course of treatment raised the question whether society must accept any price set by the patent holder. Unfortunately, these incidents illustrate a br...

  3. Fuel Price Effects on Readiness

    Science.gov (United States)

    2014-05-01

    31 B. Measuring the Response to Changes in Fuel Prices across Budget Years: Long- term Price Elasticity ...Changes in Fuel Prices across Budget Years: Long-term Price Elasticity In order to determine the responsiveness of inter-year OPTEMPO to inter-year... elasticity of OPTEMPO (our readiness measure) with respect to price . 0 1,000 2,000 3,000 4,000 33 1. Army Analysis In order to avoid overlooking

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

    Science.gov (United States)

    2010-01-01

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

  5. 7 CFR 1032.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

  6. 7 CFR 1033.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

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

    Science.gov (United States)

    2010-01-01

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

  8. 7 CFR 1005.50 - Class prices, component prices, and advanced pricing factors.

    Science.gov (United States)

    2010-01-01

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

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

    Science.gov (United States)

    2010-01-01

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

  10. 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.

  11. Logistics: Price Rises Incurred by High Oil Price

    Institute of Scientific and Technical Information of China (English)

    Lai Zhihui

    2011-01-01

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

  12. Design of Cluster-type Explosion-proof Wellhead Heater%防爆集束式井口加热器设计

    Institute of Scientific and Technical Information of China (English)

    陈龙; 王彦博; 孙林; 赵守刚; 杨双春; 潘一

    2014-01-01

    In order to solve the problem that wellhead heating oil experiment devices had poor performances including uneven heating and low heating efficiency, based on Newton cooling law and Fourier Law, the heater efficiency was researched by considering the effect of temperature and pressure. An experimental device for heating oil at wellhead was designed. Cyclone plates were arranged on the heating pipe to increase the flow distance of crude oil, spoilers and fan blades were installed on the oil inlet to change the state of flow and avoid oil-water separation, and increase the heat transfer coefficient. This experimental device can be used to study the effect of fluid state on heating efficiency, which can provide experimental basis for the design of efficient wellhead heater for crude oil.%为了解决井口加热原油实验仪器的贫乏,加热不均匀及加热效率低等问题,根据牛顿冷却公式和傅里叶定律,并考虑了原油温度和压力的影响,对加热器加热效率进行了研究。在此基础上设计了一种油井井口加热原油的实验装置。该装置在加热管上安装旋流片增大原油流动距离,在进口处安装涡流装置用以改变原油流态,增大传热系数,并起到充分混合油水的作用。该实验装置能够研究流体流态对加热效率的影响,为井口加热原油工艺设计提供实验依据,为高效的井口加热器设计提供实验基础。

  13. Stability Analysis of Subsea Wellhead Oil Control Device%水下井口控油装置稳定性分析∗

    Institute of Scientific and Technical Information of China (English)

    李志刚; 李春生; 尚宪朝; 王立权; 曹曼; 鲁冠博

    2016-01-01

    为了保证水下井口救援控油装置在海底转接作业过程中不发生失稳现象,需确定合理的控油装置入泥深度。鉴于此,根据水下井口控油装置结构的受力特点,构建了水下井口控油装置受力的力学模型。根据控油装置所受的海流力、土压力、侧壁摩擦力、土切力和基底反力计算得出控油装置的安全入泥深度要大于2�24 m;根据构建的控油装置力学模型对其地基稳定性、抗滑移和抗倾覆进行了计算分析。计算结果表明,控油装置结构底部抗滑移安全系数为2�78,可抗海流速度极限为3�17 m/s。研究结果可为实际工程作业提供理论支持。%To ensure the subsea wellhead rescue oil control device do not experience instability during switc⁃hing operation, a reasonable in⁃mud depth of the oil control device need to be determined�In view of this, the me⁃chanical model of the subsea wellhead oil control device has been established according to the mechanical charac⁃teristics of the subsea wellhead oil control device structure�Based on the current force, soil pressure, sidewall fric⁃tion, soil shear and basal counterforce on the oil control device, the calculation result suggested that the safety in⁃mud depth should be greater than 2�24 m�Finally, the foundation stability, anti⁃sliding and anti⁃overturning of the oil control device have been calculated according to the established mechanical model�The calculation results show that the bottom of the oil control device structure has an anti⁃sliding safety factor of 2�78 and an anti⁃current speed limit of 3�17 m/s�The study results could provide theoretical support for the actual project operation.

  14. Stochastic Speculative Price

    Science.gov (United States)

    Samuelson, Paul A.

    1971-01-01

    Because a commodity like wheat can be carried forward from one period to the next, speculative arbitrage serves to link its prices at different points of time. Since, however, the size of the harvest depends on complicated probability processes impossible to forecast with certainty, the minimal model for understanding market behavior must involve stochastic processes. The present study, on the basis of the axiom that it is the expected rather than the known-for-certain prices which enter into all arbitrage relations and carryover decisions, determines the behavior of price as the solution to a stochastic-dynamic-programming problem. The resulting stationary time series possesses an ergodic state and normative properties like those often observed for real-world bourses. PMID:16591903

  15. 水下导管出泥高度对井口稳定性的影响研究%Research on the Effect of the Underwater Conductor Sludge Height on Wellhead Stability

    Institute of Scientific and Technical Information of China (English)

    张伟国; 谢华; 杨进; 吴怡; 张俊斌; 韦红术; 陈彬

    2012-01-01

    In light of specific problems in engineering, the calculation method and model of the interrelationship between permissible conductor height and tilt angle were formulated. An analysis and evaluation of the conductor sludge height in Gasfield 35 - 2 in Panyu was conducted. The dynamic equalization calculation method was adopted to deal with the wellhead analysis. The above-wellhead equipment force on the wellhead was transmitted and equalized. The uniform calculation model was adopted to verify and simulate the wellhead in different operating conditions. The analysis shows that as for underwater wellhead, the most dangerous operating condition is that of well completion. The lateral force of completion operation is greater than that of drilling operation by an order of magnitude, with a relatively great bending moment. The relation between the permissible wellhead conductor sludge height and the wellhead tilt angle is approximate to that of a quadric curve.%针对工程中的具体问题,提出了导管允许高度与井口倾斜角相互关系的计算方法和模型,并对番禺35-2气田进行了导管出泥高度分析评价研究。对于井口的分析采用力学等化计算方法,把位于井口以上的设备对井口的力进行传递等化,在不同作业工况下采用统一的计算模型进行井口的校核模拟。分析结果表明,对于水下井口而言,最危险工况为完井作业工况,完井工况的侧向力比钻井工况大一个数量级,并且完井工况的弯矩也较大;井口允许导管出泥高度和井口倾角之间近似为二次曲线关系。

  16. Surviving the Price Hikes

    Institute of Scientific and Technical Information of China (English)

    JESSY ZHANG

    2006-01-01

    @@ Viessmann Werke, a German-based global manufacturer of heating technology products, settled down in an industrial development zone in Beijing suburb in 2001. In recent years, however, they have witnessed a price increase for land use in their development zone and nearby areas. "There will be more infrastructure construction in this area and a new exhibition center is said to be built here," says Dr. Andreas Tank, executive manager of Viessmann Werke. "We see the demand for land is increasing and newcomers must pay higher prices for land use than we paid. "Viessmann has fixed its expenditure on land use fees by signing a long-term contract with the development zone.

  17. 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

  18. Pricing Volatility Referenced Assets

    Directory of Open Access Journals (Sweden)

    Alan De Genaro Dario

    2006-12-01

    Full Text Available Volatility swaps are contingent claims on future realized volatility. Variance swaps are similar instruments on future realized variance, the square of future realized volatility. Unlike a plain vanilla option, whose volatility exposure is contaminated by its asset price dependence, volatility and variance swaps provide a pure exposure to volatility alone. This article discusses the risk-neutral valuation of volatility and variance swaps based on the framework outlined in the Heston (1993 stochastic volatility model. Additionally, the Heston (1993 model is calibrated for foreign currency options traded at BMF and its parameters are used to price swaps on volatility and variance of the BRL / USD exchange rate.

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

    Directory of Open Access Journals (Sweden)

    Andrea Erika NYÁRÁDI

    2007-01-01

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

  20. ANTESEDEN DAN KONSEKUENSI DARI PRICE SATISFACTION

    OpenAIRE

    Steven Dharma; Asep Hermawan

    2012-01-01

    The purpose of this paper is to explore the antecedents and consequents of price satisfaction. It argues that price satisfaction is composed of several dimensions (price transparency, pricequality ratio, relative price, price confidence, price reliability, and price fairness) and that companies should consider these dimensions when monitoring customer price satisfaction. Based on a theoretical discussion of the price dimensions, a questionnaire is developed that measures customer satisfact...

  1. Do Flexible Durable Goods Prices Undermine Sticky Price Models?

    OpenAIRE

    Robert Barsky; Christopher L. House; Miles Kimball

    2003-01-01

    Multi-sector sticky price models have surprising implications when durable goods have flexible prices. While in actual data the production of virtually all durables exhibits strong negative responses to monetary contractions, in dynamic general equilibrium models a monetary contraction causes the output of flexibly priced durables to expand. Indeed, in the polar case in which only nondurables have sticky prices, the negative comovement of durable and nondurable production exactly offsets and ...

  2. 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 defi

  3. Housing price forecastability

    DEFF Research Database (Denmark)

    Bork, Lasse; Møller, Stig Vinther

    2012-01-01

    We examine US housing price forecastability using a common factor approach based on a large panel of 122 economic time series. We …nd that a simple three-factor model generates an explanatory power of about 50% in one-quarter ahead in-sample forecasting regressions. The predictive power of the mo...

  4. 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...

  5. Pricing Decisions: A Game.

    Science.gov (United States)

    Read, Simon

    1989-01-01

    Describes a game that illustrates the effects of pricing on profit. Students compete against each other in an imaginary industry and become familiar with decision-making processes. Depicts the gameboard, how to make it, and how to use it. (GG)

  6. 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

  7. MARCH 2005 PRICES

    Institute of Scientific and Technical Information of China (English)

    2005-01-01

    Continuous cold RE market has been a headache for producers. Markup of raw materials, energy and transportation expense is a disaster in succession. Entering March, there is a trend of warm-up in the market, and some RE products have got higher prices than last year. Details are listed below.

  8. Road pricing with complications

    DEFF Research Database (Denmark)

    Fosgerau, Mogens; Van Dender, Kurt

    2013-01-01

    , and a highly stylised model of congestion is used. The simple analysis also ignores that real pricing schemes are only rough approximations to ideal systems and that inefficiencies in related markets potentially affect the case for congestion charges. The canonical model tends to understate the marginal...

  9. Sentiment and art prices

    NARCIS (Netherlands)

    Penasse, J.N.G.; Renneboog, L.D.R.; Spaenjers, C.

    2014-01-01

    We hypothesize the existence of a slow-moving fad component in art prices. Using unique panel survey data on art market participants’ confidence levels in the outlook for a set of artists, we find that sentiment indeed predicts short-term returns.

  10. Price of Terbia Soaring

    Institute of Scientific and Technical Information of China (English)

    2005-01-01

    Recently, price of terbia soars to RMB $2600/ nearly changing by day. It is estimated that it will climt RMB$3000/Kg or so. Rising of terbia is mainly driven following factors: 1. Reduced Raw Materials High terbium contained Longnan ore in Ganzhou completely stopped leaching, which will result in the sh

  11. 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)

  12. 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...

  13. Higher fuel and food prices

    DEFF Research Database (Denmark)

    Arndt, Channing; Benfica, Rui; Maximiano, Nelson;

    2008-01-01

    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...... 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...

  14. Oil Prices Take a Hike

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    The National Development and Reform Commission(NDRC),China’s top economic planner,announced at the end of October that the benchmark prices of gasoline,diesel oil and aviation kerosene would be raised by 500 yuan per ton. Recently,international oil prices have been rising continuously.Crude oil futures prices traded in New York surged to$93 per barrel on October 29. However,in China,oil prices are set by the government and not by the market. The recent hike on the price of oil in China is a measure implemented,to narrow the gap between soaring global crude oil prices and domestic fuel prices.NDRC officials answered questions posed by Xinhua News Agency about recent oil price hikes.The questions and answers follow:

  15. 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...... accessible at the store exit. These findings enable the authors to reconcile diverging results from past research,showing how consumer price knowledge evolves and suggesting that the vast majority of consumers learn about prices, whether consciously orunconsciously, during grocery shopping. Thus, when...... applying a multi-point, multi-measure approach, consumers appear to know more aboutprices than suggested by past research. Determinants of price knowledge are also examined and the results indicate that price knowledge buildsup not only because of active search but also due to accidental exposure to prices...

  16. Model Penentuan Harga ( Price ) Dinamis

    OpenAIRE

    Laili, Erna

    2012-01-01

    Information about the demand curve is not available enough practically, those sellers face some constrains to get the optimal revenue. The seller’s revenue is influenced by the dynamic pricing caused by price sensitivity and the uncertainty available marketing share. The thesis aims to create mathematical model for determining the dynamic pricing by learning both properties determination model and dynamic pricing factors. The results of the research shows that for two parameter...

  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. 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.

  19. Brand the Pricing: Critical Critique

    OpenAIRE

    Alam Kazmi, Syed Hasnain

    2015-01-01

    Brand pricing decision models and established theories in the marketing and econometrics focus typically on assuming the symmetric competing businesses. The empirical generalities are key for strategic marketplace planning. The significance of pricing to customer store and brand choices are always regarded as a widely known truth among marketing scholars and explains consumer’s role responding to their psychological representations of price rather than price itself. Scholars have ...

  20. 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...

  1. 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...

  2. Thinking strategically about electricity pricing

    Energy Technology Data Exchange (ETDEWEB)

    Toulson, D. (Barakat and Chamberlin, Inc., Oakland, CA (United States))

    1992-12-01

    This report describes an approach by which utilities can view pricing from a strategic, market-oriented perspective. It begins by reviewing pricing practices found in private industry and develops a framework for utility rate design that incorporates both customer value and cost of service. A market intelligence system for gathering data relevant to pricing decisions is also briefly outlined.

  3. The Pricing of Economics Books.

    Science.gov (United States)

    Laband, David; Hudson, John

    2003-01-01

    Examines the pricing and other characteristics of books. Notes substantial increases in book prices between 2000 and 1985 data. Suggests a major factor is the increasing importance of foreign presses that sell books at higher prices. Indicates that discount on paperbacks appear to have been relatively stable in the two years studied. (JEH)

  4. 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…

  5. RESTAURANT NO. 2: PRICE INCREASES

    CERN Multimedia

    2003-01-01

    'DSR', the concession holder of Restaurant no. 2 (bldg. 504 - Meyrin site), has submitted to the Restaurant Supervisory Committee a request to increase certain prices. After close examination, the Committee has established that the proposed increases are compatible with the relevant price indexing mechanisms and other contractual conditions. The new prices will apply as from Monday, June 30, 2003.

  6. RESTAURANT NO. 3: PRICE INCREASES

    CERN Multimedia

    2003-01-01

    'AVENANCE', the concession holder of Restaurant no. 3 (bldg. 866 - Prévessin site), has submitted to the Restaurant Supervisory Committee a request to increase its prices. After close examination, the Committee has established that the proposed increases are compatible with the relevant price indexing mechanisms and other contractual conditions. The new prices will apply as from Monday, June 2, 2003.

  7. China’s Pricing Prowess

    Institute of Scientific and Technical Information of China (English)

    2009-01-01

    China adheres to a more flexible oil pricing mechanismBy ordering a hefty 9-percent price increase in gasoline and diesel, China is lending credibility to its pledges of a more market-oriented pricing system. The decision, announced by the National Development and Reform Commission

  8. Higher prices in Jamaica.

    Science.gov (United States)

    1982-03-01

    Price increases in the Jamaica CSM program went into effect on August 31, 1981. The program began in 1975. While the need for higher prices has been under discussion for the past 3 years, this is the 1st time the requisite approval from the Jamaica Price Commission has been obtained. The Jamaica National Family Planning Board (JNFPB) reports that the Panther 3-pack (condom) is up US$0.15 to US$0.30. Each Perle package (oral contraceptive) was increased by US$0.20. Single cycle Perle now sells for US$0.50, and 3-pack Perle sells for US$1.10. The 6-year price stagnation experienced by the CSM program resulted in a decreasing operational budget as program costs continued to rise. Marketing costs alone during this period escalated by 100-300%. For example, Panther pop-up display cartons cost the project US 16U each in 1975. By 1979 the same product cost US 49U. Newspaper advertisements have increased from the 1975 cost of US$68.00 to nearly $200.00 per placement. The overall inflation rate in Jamaica during the last 5 years has averaged more than 20% annually. In the face of these rising costs, outlet expansion for Perle has been prevented, wholesaler margins have been unavailable, and new retailer training has been discontinued. It is projected that the new prices will result in an annual increased revenues of US$80,000 which will be used to reinstate these essential marketing activities. The JNFPB is also planning to introduce a Panther 12-pack and Panther strips to the CSM product line. According to Marketing Manager Aston Evans, "We believe the public is now ready for this type of packaging" which is scheduled to be available soon. Panther is presently only available in a 3-pack, but annual sales have been steady. The new 12-pack will be stocked on supermarket shelves to provide higher product visibility and wider distribution. The selling price has been set as US$1.20 and is expected to yield a 25% increase in sales during the 1st year. A complete sales promotion

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

    Science.gov (United States)

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

    2017-06-01

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

  10. Energy Price Reform in China

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

    Market-based reform of energy prices is the most effective approach to enhancing energy efficiency. The policies of energy conservation and enhancing energy efficiency in the 1 lth Five-year Plan period (2006-2010) work directly to set up a series of reform measures related to energy pricing by market mechanism. Energy price reform will deeply influence China's industrial interest pattern, and its development in the next five years and even 10 or 20 years.This paper analyzes the significance, timing, present status and problems related to energy price reform, and discusses the goal, principle and measures of coal, electricity, oil and gas price reform separately.

  11. Industrial Pricing: Theory and Managerial Practice

    OpenAIRE

    Peter M. Noble; Gruca, Thomas S.

    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...

  12. Albania Residential Prices

    Directory of Open Access Journals (Sweden)

    Luciana Koprencka

    2016-04-01

    Full Text Available The real estate market is complex and influenced by too many factors. Real Estate market in Albania has experienced a boom after the 1990. We have inherited from the communist system a very poor market of housing. The number of dwellings in 1990 in Albania was 219 dwellings per 1000 inhabitants and the useful floor space was 5 m² per person, but in Bulgaria number of dwellings per 1,000 people varies 465 and in Romania average useful floor space per person was 37 sq. The data used in this study are derived from the database of the World Bank, the Institute of Statistics, reports of Bank of Albania also from information provided individually on the ground and different sources. In this study is analyzed the relationship that exists between economic growth, remittances and the price of dwellings in Albania. The dependent variable is the average price of housing in major cities of Albania. Independent variables in the model are GDP per capita and the remittances. The Econometric model is a Linear Regress equation and the period are the years from 1998 to 2013. The model used is the statistical program EViews 6.0. Unfortunately the information let the desired, so we do not have an official detailed information on prices of Albanian real estate market. In Albania few researchers have been studying real estate market in Albania.

  13. Price setting in turbulent times

    DEFF Research Database (Denmark)

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

    . A second contribution to the literature is our analysis of the nexus between price setting and exchange rate movements, a topic that has attracted surprisingly limited attention in this survey-based literature. A novel aspect of our approach is to base our analysis on a categorisation of firms...... 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...... prices rather than decreasing costs to restore profit margins after an exchange rate depreciation. They also review their prices more often but nevertheless, surprisingly, have the same price change frequency as the median firm. On the other hand, price review frequency declines and time...

  14. 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.

  15. 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.

  16. Option Pricing when the Regime-Switching Risk is Priced

    Institute of Scientific and Technical Information of China (English)

    Tak Kuen Siu; Hailiang Yang

    2009-01-01

    We study the pricing of an option when the price dynamic of the underlying risky asset is governed by a Markov-modulated geometric Brownian motion. We suppose that the drift and volatility of the underlying risky asset are modulated by an observable continuous-time, finite-state Markov chain. We develop a twostage pricing model which can price both the diffusion risk and the regime-switching risk based on the Esscher transform and the minimization of the maximum entropy between an equivalent martingale measure and the real-world probability measure over different states. Numerical experiments are conducted and their results reveal that the impact of pricing regime-switching risk on the option prices is significant.

  17. Pricing Strategy versus Heterogeneous Shopping Behavior under Market Price Dispersion

    Directory of Open Access Journals (Sweden)

    Francisco Álvarez

    2016-01-01

    Full Text Available We consider the ubiquitous problem of a seller competing in a market of a product with dispersed prices and having limited information about both his competitors’ prices and the shopping behavior of his potential customers. Given the distribution of market prices, the distribution of consumers’ shopping behavior, and the seller’s cost as inputs, we find the computational solution for the pricing strategy that maximizes his expected profits. We analyze the seller’s solution with respect to different exogenous perturbations of parametric and functional inputs. For that purpose, we produce synthetic price data using the family of Generalized Error Distributions that includes normal and quasiuniform distributions as particular cases, and we also generate consumers’ shopping data from different behavioral assumptions. Our analysis shows that, beyond price mean and dispersion, the shape of the price distribution plays a significant role in the seller’s pricing solution. We focus on the seller’s response to an increasing diversity in consumers’ shopping behavior. We show that increasing heterogeneity in the shopping distribution typically lowers seller’s prices and expected profits.

  18. Strategic pricing: hitting the mark with pricing strategies. Part 1.

    Science.gov (United States)

    Porn, L; Manning, M

    1988-01-01

    Efforts by government and business to reduce healthcare expenditures by fostering competition and reducing utilization have combined to redefine the basic economic structure of the healthcare delivery system. Increased competition among providers has prompted an increased awareness of strategic pricing as a means of achieving institutional goals and objectives. In this article, the first in a three-part series on strategic pricing, the authors examine some of the key theoretical considerations related to pricing strategies for healthcare providers. Future articles will examine practical applications as they relate to package pricing, discounting, per diem systems, and capitation arrangements.

  19. Effects of coal prices on merchandise prices in China

    Institute of Scientific and Technical Information of China (English)

    Ding Zhihua; Zhou Meihua; Liu Yan

    2011-01-01

    Coal is the principal form of energy used in China.Hence,coal price variations are expected to have some influence on merchandise prices.Monthly data from January,2002,to October,2010,were used to construct a varying-parameter state space model,and an error correction model,to estimate the influence of coal prices on Chinese merchandise prices.The time lag and the dynamic relationship were determined from the data.A long term equilibrium relationship between coal price and the PPI,and the CPI,can be observed.The long term influence of coal price fluctuations on the PPI is 0.263%.The corresponding value for the CPI is 0.157%.The PPI shows an influence from coal price change in the first period of observation:by eight periods the influence is obvious,after which it diminishes.The effect of coal price change on the CPI is rather weak and has no long term memory.Analysis of variance shows a similar situation.The elasticity coefficient of coal prices on the CPI,or the PPI,fluctuates over the 2002-2004 period.From 2002 to 2007 the influence elasticity on the CPI declined and subsequently levelled off after 2009.

  20. Essays on Derivatives Pricing

    DEFF Research Database (Denmark)

    Kokholm, Thomas

    The field of quantitative finance has been criticized in the mainstream media lately and been accused of being one of the causes of the financial crisis. Convenient as this explanation may be, my belief is that a part of the solution to the crisis is to use more (and not less) sophisticated....... 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...

  1. Prices and species diversity

    DEFF Research Database (Denmark)

    Sauer, Johannes

    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....... 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...

  2. 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...

  3. Endogenous price leadership

    OpenAIRE

    van Damme, E.E.C.; Hurkens, S.

    1998-01-01

    We consider a linear price setting duopoly game with di®erentiated products and determine endogenously which of the players will lead and which will follow. While the follower role is most attractive for each firm, we show that waiting is more risky for the low cost firm so that, consequently, risk dominance considerations, as in Harsanyi and Selten (1988), allow the conclusion that only the high cost firm will choose to wait. Hence, the low cost firm will emerge as the end...

  4. Prices versus Quantities

    DEFF Research Database (Denmark)

    Hansen, Lars Gårn; Jensen, Frank

    Weitzman (2002) studies the regulation of a fishery characterised by constant marginal harvest costs and shows that price regulation performs better than quantity regulation when the regulator is uncertain about the biological reproduction function (ecological uncertainty). Here, we initially...... uncertainty. We find that the gain from eliminating compliance uncertainty may be up to 5% of gross profit while the gain from eliminating ecological uncertainty is minimal. Under landing fee regulation, the entire gain from eliminating both types of uncertainty is captured, even if the regulator’s stock...

  5. 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 proj...... 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....

  6. 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.

  7. Price and consumption of tobacco

    OpenAIRE

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

    2012-01-01

    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 Jai...

  8. Cost minimization and asset pricing

    OpenAIRE

    Robert G. Chambers; John Quiggin

    2005-01-01

    A cost-based approach to asset-pricing equilibrium relationships is developed. A cost function induces a stochastic discount factor (pricing kernel) that is a function of random output, prices, and capital stockt. By eliminating opportunities for arbitrage between financial markets and the production technology, firms minimize the current cost of future consumption. The first-order conditions for this cost minimization problem generate the stochastic discount factor. The cost-based approach i...

  9. 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....

  10. RESTAURANT NO. 3 : PRICE INCREASES

    CERN Multimedia

    Restaurant Supervisory Committee

    2002-01-01

    'AVENANCE', the concession holder of Restaurant no. 3 (bldg. 866 - Prévessin site), has submitted to the Restaurant Supervisory Committee a request to increase its prices. After close examination, the Committee has established that the proposed increases are compatible with the relevant price indexing mechanisms and other contractual conditions. The new prices will apply as from Monday, June 3, 2002. Restaurant Supervisory Committee, tel. 77551

  11. Testing Monotonicity of Pricing Kernels

    OpenAIRE

    Timofeev, Roman

    2007-01-01

    In this master thesis a mechanism to test mononicity of empirical pricing kernels (EPK) is presented. By testing monotonicity of pricing kernel we can determine whether utility function is concave or not. Strictly decreasing pricing kernel corresponds to concave utility function while non-decreasing EPK means that utility function contains some non-concave regions. Risk averse behavior is usually described by concave utility function and considered to be a cornerstone of classical behavioral ...

  12. 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 triggered...... 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....

  13. Corn prices and alcohol production

    Energy Technology Data Exchange (ETDEWEB)

    Wangsness, W.

    1979-09-01

    Corn has attracted the most attention as a feedstock for alcohol production. The economics are computed on the basis of fixed costs for labor, taxes, depreciation, heat, and enzymes. Changes in feedstock prices are shown to determine whether corn is used for energy or protein as cattle feed. Comparisons of gasoline refined from imported oil and gasohol are made for a range of prices per bushel and oil prices per barrel. (DCK)

  14. From tariffs to prices

    Energy Technology Data Exchange (ETDEWEB)

    Baena, D. Eduardo Martin [Endesa, Principe de Vergara 187, Madrid (Spain)

    1998-07-01

    It looks like that all over the World things are changing. Many countries, Spain among them, where electricity regulations were usual, are changing their regulatory mainframe. Since January 1, 1998, electricity production is a deregulated activity in Spain. There has to be open market competition. Prices that are very important for the time coming, have to cover the production cost plus some profits in order to maintain the company profitability. This cultural change applies to all our production facilities, including nuclear power plants. Taking into account this new situation and the nuclear competitiveness, it is important for all of us to understand this issue. As it is well known, nuclear energy is capital intensive, that means it has to compete as base load units due to their low operating costs and their large capital ones. For that reason it is important to reduce as much as possible the operating and maintenance cost as well as the fuel one, which will allow nuclear plants to compete in marginal costs with others units. Nuclear energy, in Spain, is not going to fix the pool price but it has to recover some depreciation through it, the remaining being recovered by the recognition of an important part of the stranded cost. (author)

  15. 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.

  16. TOURISM MARKET: PRICING ISSUES

    Directory of Open Access Journals (Sweden)

    Irina A. Kiseleva

    2016-01-01

    Full Text Available The 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

  17. Reciprocity, World Prices and Welfare

    DEFF Research Database (Denmark)

    Raimondos-Møller, Pascalis; Woodland, Alan D.

    We examine in detail the circumstances under which reciprocity, as defined in Bagwell and Staiger (1999), leads to fixed world prices. We show that a change of tariffs satisfying reciprocity does not necessarily imply constant world prices in a world of many goods and countries. While...... 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...

  18. 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.

  19. Price setting in turbulent times

    DEFF Research Database (Denmark)

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

    -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...... 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...

  20. Price transparency for medical devices.

    Science.gov (United States)

    Pauly, Mark V; Burns, Lawton R

    2008-01-01

    Hospital buyers of medical devices contract with manufacturers with market power that sell differentiated products. The medical staff strongly influences hospitals' choice of devices. Sellers have sought to limit disclosure of transaction prices. Policy-makers have proposed legislation mandating disclosure, in the interest of greater transparency. We discuss why a manufacturer might charge different prices to different hospitals, the role that secrecy plays, and the consequences of secrecy versus disclosure. We argue that hospital-physician relationships are key to understanding what manufacturers gain from price discrimination. Price disclosure can catalyze a restructuring of those relationships, which, in turn, can improve hospital bargaining.

  1. Artificial Shortages and Strategic Pricing

    Directory of Open Access Journals (Sweden)

    Partha Gangopadhyay

    2012-01-01

    Full Text Available Problem statement: We consider a monopolist who manipulates the market by artificially creating shortages that result in an increase in current price that, in turn, boosts demand for the product in subsequent periods. The approach is to develop an intertemporal model of pricing strategy for a monopolist. Approach: The postulated pricing strategy creates an incentive for producers to reduce current supply and raise current prices and sacrifice current profits in order to increase future profits. The main problem is to explain the precise mathematical conditions under which the pricing strategy will be chosen by a monopolist. Results: We derive the optimal pricing strategy to argue that the monopolist has an incentive to adopt simple market manipulation that calls forth a close examination of issues concerning deregulation. Conclusion: The paper examines two possible strategies for a typical monopolist-strategic pricing vis-a-vis a myopic pricing. The intuition is that the monopolist can manipulate the market by artificially creating shortages that result in an increase in current price that, in turn, boosts demand for the product in subsequent periods.

  2. Prices of RE Products Soaring

    Institute of Scientific and Technical Information of China (English)

    2005-01-01

    Prices of light rare earth products in Baotou rose on the full scale in July. Price of lanthana reached RMB 12,000 - 13,000/t, that of ceria RMB 12,000/t, praseodymia RMB 70,000 - 72,000/t, Pr-Nd oxides RMB 52,000/t, neodymia RMB 65,000/t. Despite the high price of Pr-Nd oxides and neodymia, no goods are available at hand. Price rising is attributed to enforcement of environmental protection policy and heightening project suspending of Baogang tailings dam. RE separation enterprises along Yellow River have ...

  3. 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.

  4. Integrated TLWP-FPSO (Tension Leg Wellhead Platform-Floating Production, Storage and Offloading Vessel) solution for deep water field development offshore Brazil

    Energy Technology Data Exchange (ETDEWEB)

    Williams, Neil; Heidari, Homayoun; Large, Sean [SBM Atlantia, Houston, TX (United States)

    2008-07-01

    A development strategy for some deep water fields offshore Brazil consists of a TLWP (Tension-Leg Wellhead Platform) connected by a fluid transfer line to a nearby FPSO. The TLWP provides dry tree riser support, drilling capability, manifolding, test separation, and multiphase pumping, while all other functions including full processing, accommodations, gas compression, power generation, water and chemical injection, storage and offloading, and gas export are provided by the FPSO. In one such scenario, the TLWP and FPSO could be connected using SBM's GAP mid-water fluid transfer line technology, with SBM Atlantia's FourStar{sup TM} hull concept for the TLWP. The FourStar{sup TM} is designed to be quayside- or float over-integrable, thus eliminating the need for a heavy lift installation vessel; while being structurally and hydrodynamically superior to other TLP alternatives. This paper presents a description of the technical development of the FourStar{sup TM} TLP and an overview of the GAP technology, and discusses the characteristics of an integrated TLWP-GAP-FPSO field development solution for a typical application offshore Brazil (author)

  5. 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

  6. 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.

  7. The Value of Renewable Energy as a Hedge Against Fuel Price Risk: Analytic Contributions from Economic and Finance Theory

    Energy Technology Data Exchange (ETDEWEB)

    Bolinger, Mark A; Wiser, Ryan

    2008-09-15

    natural gas in the United States over a relatively brief period. Perhaps of most concern is that this dramatic price increase was largely unforeseen. Figure 2 compares the EIA's natural gas wellhead price forecast from each year's Annual Energy Outlook (AEO) going back to 1985 against the average US wellhead price that actually transpired. As shown, our forecasting abilities have proven rather dismal over time, as over-forecasts made in the late 1980's eventually yielded to under-forecasts that have persisted to this day. This historical experience demonstrates that little weight should be placed on any one forecast of future natural gas prices, and that a broad range of future price conditions ought to be considered in planning and investment decisions. Against this backdrop of high, volatile, and unpredictable natural gas prices, increasing the market penetration of renewable generation such as wind, solar, and geothermal power may provide economic benefits to ratepayers by displacing gas-fired generation. These benefits may manifest themselves in several ways. First, the displacement of natural gas-fired generation by increased renewable generation reduces ratepayer exposure to natural gas price risk--i.e., the risk that future gas prices (and by extension future electricity prices) may end up markedly different than expected. Second, this displacement reduces demand for natural gas among gas-fired generators, which, all else equal, will put downward pressure on natural gas prices. Lower natural gas prices in turn benefit both electric ratepayers and other end-users of natural gas. Using analytic approaches that build upon, yet differ from, the past work of others, including Awerbuch (1993, 1994, 2003), Kahn and Stoft (1993), and Humphreys and McClain (1998), this chapter explores each of these two potential 'hedging' benefits of renewable electricity. Though we do not seek to judge whether these two specific benefits outweigh any incremental

  8. The Value of Renewable Energy as a Hedge Against Fuel Price Risk: Analytic Contributions from Economic and Finance Theory

    Energy Technology Data Exchange (ETDEWEB)

    Bolinger, Mark A; Wiser, Ryan

    2008-09-15

    natural gas in the United States over a relatively brief period. Perhaps of most concern is that this dramatic price increase was largely unforeseen. Figure 2 compares the EIA's natural gas wellhead price forecast from each year's Annual Energy Outlook (AEO) going back to 1985 against the average US wellhead price that actually transpired. As shown, our forecasting abilities have proven rather dismal over time, as over-forecasts made in the late 1980's eventually yielded to under-forecasts that have persisted to this day. This historical experience demonstrates that little weight should be placed on any one forecast of future natural gas prices, and that a broad range of future price conditions ought to be considered in planning and investment decisions. Against this backdrop of high, volatile, and unpredictable natural gas prices, increasing the market penetration of renewable generation such as wind, solar, and geothermal power may provide economic benefits to ratepayers by displacing gas-fired generation. These benefits may manifest themselves in several ways. First, the displacement of natural gas-fired generation by increased renewable generation reduces ratepayer exposure to natural gas price risk--i.e., the risk that future gas prices (and by extension future electricity prices) may end up markedly different than expected. Second, this displacement reduces demand for natural gas among gas-fired generators, which, all else equal, will put downward pressure on natural gas prices. Lower natural gas prices in turn benefit both electric ratepayers and other end-users of natural gas. Using analytic approaches that build upon, yet differ from, the past work of others, including Awerbuch (1993, 1994, 2003), Kahn and Stoft (1993), and Humphreys and McClain (1998), this chapter explores each of these two potential 'hedging' benefits of renewable electricity. Though we do not seek to judge whether these two specific benefits outweigh any incremental

  9. Pricing effects on food choices.

    Science.gov (United States)

    French, Simone A

    2003-03-01

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

  10. Considerations regarding price in oligopolistic structured markets

    Directory of Open Access Journals (Sweden)

    Ciobanu, R.

    2011-01-01

    Full Text Available Economists report price rigidity in markets with oligopolistic structures, while explaining the phenomenon. If an oligopolistic firm raises prices, other prices will remain stable in oligopolistic firms, so we will see a significant decrease in sales volume in the firm which increased prices. To avoid this situation an oligopolistic company will not initiate price increases. If oligopolistic firms lower prices, other oligopolistic firms will reduce prices promptly and the result will be that of lower volume of sales - will sell the same physical volume of goods but at a lower price. To avoid this situation, the company will not initiate oligopolistic price decreases.

  11. 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…

  12. 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

  13. The Nominal Share Price Puzzle

    National Research Council Canada - National Science Library

    William C. Weld; Roni Michaely; Richard H. Thaler; Shlomo Benartzi

    2009-01-01

    ... investigate in this paper is whether vestigial norms and customs affect corporate decision making. Consider the following fact: The average nominal price for a share of stock on the New York Stock exchange has remained roughly constant (about $35) since the Great Depression. The mechanism that has allowed share prices to remain remarkably con...

  14. Asset prices and monetary policy

    National Research Council Canada - National Science Library

    Issing, Otmar

    2009-01-01

    ... the opposite. For central banks the relation between monetary policy and asset prices has gained new interest and the dominant view has come under critique. The Consensus View There is a broad consensus around the world that central banks should maintain price stability--keeping inflation low and stable. This objective is reflected in the mandate given to the ce...

  15. 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)

  16. Price satisfaction and producer loyalty

    DEFF Research Database (Denmark)

    Mutonyi, Sarah; Beukel, Karin; Gyau, Amos

    2016-01-01

    Purpose The purpose of this paper is to investigate which dimensions of price satisfaction influence producers’ trust in buyers and assess the mediating role of such trust in the relationship between price satisfaction and producer loyalty in fresh fruit supply chains. Design/methodology/approach......Purpose The purpose of this paper is to investigate which dimensions of price satisfaction influence producers’ trust in buyers and assess the mediating role of such trust in the relationship between price satisfaction and producer loyalty in fresh fruit supply chains. Design...... reliability, and relative price are dimensions of price satisfaction that affect producers’ trust in the buyer. Moreover, trust between the producer and the buyer is found to be a strong mediator between price satisfaction and producer loyalty. The findings support recent studies about trust and its mediating...... between the multi-dimensional nature of price satisfaction and producer loyalty with trust as a mediating variable in the business-to-business (B2B) context. Although B2B relationships have been shown to be of great importance for smallholders in enhancing business performance with their buyers, little...

  17. Carbon pricing in the EU

    NARCIS (Netherlands)

    Brink, Corjan; Vollebergh, Herman R.J.; Werf, van der Edwin

    2016-01-01

    This paper studies various options to support allowance prices in the EU Emissions Trading System (ETS), such as adjusting the cap, an auction reserve price, and fixed and variable carbon taxes in addition to the EU ETS. We use a dynamic computable general equilibrium model that explicitly allows

  18. 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.

  19. Organic Chemicals Remain High Prices

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    @@ Phenol In early April 2007, China's phenol price remained bullish, and with the restart of phenol/acetone units in Sinopec Beijing Yanhua Petrochemical being ahead of schedule, there were few trading actions in the market, and the price of phenol dropped considerably afterwards.

  20. 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 ...

  1. Energies prices; Prix des energies

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2005-08-15

    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.)

  2. 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 mod

  3. Carbon pricing in the EU

    NARCIS (Netherlands)

    Brink, Corjan; Vollebergh, Herman R.J.; Werf, van der Edwin

    2016-01-01

    This paper studies various options to support allowance prices in the EU Emissions Trading System (ETS), such as adjusting the cap, an auction reserve price, and fixed and variable carbon taxes in addition to the EU ETS. We use a dynamic computable general equilibrium model that explicitly allows

  4. 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...

  5. Pricing Films, Filmstrips and Records.

    Science.gov (United States)

    Epstein, Connie C.

    1984-01-01

    Examines pricing practices of major producers of educational materials: Weston Woods, Listening Library, Random House Educational Media, Live Oak Media, S&S Communications Group, Phoenix/BFA, Benchmark, and Churchill Films. Royalties, production and manufacturing costs, list prices, recoveries to producers, and marketing are noted. (EJS)

  6. Pricing and price strategies on the example of real business project

    OpenAIRE

    Eichlerová, Jana

    2011-01-01

    The thesis aims to define processes and strategies in pricing as the one of the marketing mix tools, to appraise the customer segmentation as inseparable tool for finding profitable price and to prove its meaning and applicability at the real business project. First chapter is dealing with the definition of price and micro-economical perspective on price and price determination. It observes, what influences the price and price perception. It represents the price as a component of marketing to...

  7. 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.

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

    Energy Technology Data Exchange (ETDEWEB)

    Soytas, Ugur; Sari, Ramazan [Middle East Technical University, Department of Business Administration, 06531 Ankara (Turkey); Hammoudeh, Shawkat [Drexel University, LeBow College of Business, Philadelphia, PA 19104 (United States); Hacihasanoglu, Erk [Central Bank of the Republic of Turkey, 06100 Ankara (Turkey)

    2009-12-15

    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. (author)

  9. 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...

  10. Agricultural commodity prices and oil prices: mutual causation

    OpenAIRE

    McFarlane, Ian

    2016-01-01

    The world market price of many commodities including US corn (maize) peaked sharply in 2008. The US Energy Policy Act (2005) led to a rapid rise in demand for corn ethanol as a partial substitute for gasoline in the USA. In this paper we report analysis of weekly prices of corn, wheat, sugar and crude oil, together with monthly series derived from those and other weekly prices, for two consecutive seven year periods: 1999-2005 and 2006-2012. We find strong evidence of cointegration between pr...

  11. Pricing General Insurance in a Competitive Market

    OpenAIRE

    Burcã Ana-Maria; Bãtrînca Ghiorghe

    2012-01-01

    In insurance industry, the lack of a proper pricing policy will generate suboptimal results. The price has to be competitive and actuarially adequate in order to reflect the dimension of risk. In a competitive market, the pricing policy of insurance companies acquires the capacities of a dynamic process. In this pricing war, the insurance company must analyze each component of pricing. Insurance companies use various statistical methods to set prices, taking in consideration the interaction b...

  12. How Do Companies Use the Price Strategies

    Institute of Scientific and Technical Information of China (English)

    赵亚男; 赵翠玲

    2011-01-01

    @@ 1 .Introduction With the development of the globalization, companies face many challenges.Pricing strategy is a part of their marketing efforts.Price is the only element in the marketing mix that produces revenues; all other elements re present cost.So pricing and price competition is the number-one problem facing many marketing executives.To select an initial price, companies should using pricing

  13. Commodity Price Volatility: Causes, Effects and Implications

    OpenAIRE

    Mugera, Harriet Kasidi

    2015-01-01

    Agricultural commodities experienced substantial increases in prices over the most recent decade with major surges in both 2007-08 and again in 2010-11. These price movements coincided with sharp rises in energy prices, in particular crude oil. Sharp increases in agricultural prices were not uncommon, but it is the short period between the recent two price surges that has drawn concerns and raised questions. What were the causes of the increase in world agricultural prices and what are the pr...

  14. 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...

  15. 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...

  16. International Menu Costs and Price Dynamics

    OpenAIRE

    Raphael Schoenle

    2010-01-01

    In this paper, I analyze how the pricing behavior of firms systematically differs across domes- tic and export markets in terms of frequency, timing and size of price changes. First, I contrast domestic and export pricing decisions for the same products showing that (i) domestic producer prices change approximately twice as often as export producer prices, (ii) the probability of syn- chronized price adjustment across markets is 21% for upwards adjustments and 14% for downwards adjustments, (...

  17. Antimicrobial price variation: Conundrum of medical profession!

    Directory of Open Access Journals (Sweden)

    Rataboli P

    2007-01-01

    Full Text Available Pharmacoeconomics plays a pivotal role in clinical practice. High medicine prices can adversely affect a patient′s finances and compliance. The Indian pharmaceutical industry has become a cornucopia of medicines with wide variation in prices for the same medicine marketed under different brand names. Price list of available antimicrobial brands was procured from a commercial drug directory. Average price of widely prescribed oral antimicrobials was found and price variation between different brands was calculated. The variation in medicine prices was found to be from 95% lower to more than 350% higher than the average price. Implications of price variation in clinical practice are discussed and remedial measures suggested.

  18. Delineation of a wellhead protection zone and determination of flowpaths from potential groundwater contaminant source areas at Camp Ripley, Little Falls, Minnesota.

    Energy Technology Data Exchange (ETDEWEB)

    Quinn, J. J.; Environmental Science Division

    2006-12-22

    Groundwater at Camp Ripley, Minnesota, is recharged both on post and off site and discharged to rivers, wetlands, and pumping wells. The subsurface geologic materials have a wide range of permeabilities and are arranged in a complex fashion as a result of the region's multiple glacial advances. Correlation of individual glacial geologic units is difficult, even between nearby boreholes, because of the heterogeneities in the subsurface. This report documents the creation of a numerical model of groundwater flow for Camp Ripley and hydrologically related areas to the west and southwest. The model relies on a hydrogeological conceptual model built on the findings of a University of Minnesota-Duluth drilling and sampling program conducted in 2001. Because of the site's stratigraphic complexity, a geostatistical approach was taken to handle the uncertainty of the subsurface correlation. The U.S. Geological Survey's MODFLOW code was used to create the steady-state model, which includes input data from a variety of sources and is calibrated to water levels in monitoring wells across much of the site. This model was used for several applications. Wellhead protection zones were delineated for on-site production wells H, L, and N. The zones were determined on the basis of a probabilistic assessment of the groundwater captured by these wells; the assessment, in turn, had been based on multiple realizations of the study area's stratigraphy and groundwater flowfield. An additional application of the model was for estimating flowpaths and times of travel for groundwater at Camp Ripley's range areas and waste management facilities.

  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. Dynamic Price Dispersion of Storable Goods

    DEFF Research Database (Denmark)

    Gao, Cixiu

    2015-01-01

    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. 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 construct a dynamic model of oligopoly retailers selling a homogeneous storable good. The model takes into account consumer heterogeneity with respect to search cost, inventory cost, and store loyalty. 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 consists of one-time price reductions and several consecutive periods in which all retailers offer the regular price...

  1. Dynamic Price Dispersion of Storable Goods

    DEFF Research Database (Denmark)

    Gao, Cixiu

    2014-01-01

    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...... 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....

  2. 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...

  3. 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...... using a Bayesian simulation methodology. Three main findings emerge from the analysis. Firstly, it seems that domestic rather than global or regional shocks are the main drivers of domestic food prices in all regions. Secondly, global factors have gained importance since 2005. Food inflation...

  4. European attitudes to water pricing

    DEFF Research Database (Denmark)

    Jensen, Anne Kejser

    2016-01-01

    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....... Within an extensive spatial dataset constructed for the purpose, we estimate the effect of individual information levels and affordability concerns on the attitude towards environmental water pricing. Information about water problems is found to have a significant and positive effect on attitudes...

  5. 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.

  6. Prices of Resins Changed Differently

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    @@ Polyethylene In early August 2007, due to the low operating rate in downstream plants, the demand was slack, and the offer price of LLDPE (linear low density polyethylene) decrease with few trading actions.

  7. 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)

  8. Coordinated Oil Price Readjustment Plan

    Institute of Scientific and Technical Information of China (English)

    2006-01-01

    In March this year, the National Development and Reform Commission issued an oil price readjustment plan, including the establishment of a subsidy system for disadvantaged sections of the community and public service sectors, a price linkage mechanism for related industries, and a fiscal adjustment mechanism for oil enterprises. The recipients of the subsidies mainly include farmers, fishermen and fishing firms, state-owned forestry enterprises and urban public transportation firms.

  9. 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...... simple way. The paper therefore questions the procedure of using unit value differences between exported and imported goods as criteria for disentangling intra-industry trade in a vertical and a horizontal part....

  10. Agricultural Water Pricing: United States

    OpenAIRE

    2010-01-01

    In summary, irrigation costs and prices are rising in most regions of the United States, due to a combination of increasing scarcity, changes in public preferences regarding water allocation among competing uses, increasing budget scrutiny in the national and state legislatures, rising energy prices, and increasing awareness of climate change and the potential implications for rainfall and the availability of surface water resources. These issues likely will continue encouraging public offici...

  11. Studies on Impacts of Diluting Parameters on Wellhead Pressure of Heavy Oil Production Wells Assisted with Light Oil%稠油掺稀井掺稀参数对井口压力的影响研究

    Institute of Scientific and Technical Information of China (English)

    柳文莉; 韩国庆; 吴晓东; 朱明; 罗佳洁; 丁洪坤

    2011-01-01

    According to four diluting parameters affecting heavy oil production assisted with light oil-diluting amount. diluting relative density, diluting temperature and diluting depth, analysis on the impacts of diluting parameters of wellhead pressure using multi-element non-linear regression regression method is presented. The results show that the wellhead pressure increases as the increasement of diluting amount. diluting temperature and diluting depth and decreases as the increasement of the relative diluting density. Diluting amount makes the greatest impact on wellhead pressure, diluting temperature , diluting depth and relative diluting density' s impact is smaller.%针对影响稠油掺稀降黏的四种掺稀参数——掺稀量、掺稀相对密度、掺稀温度及掺稀深度,采用多元二次非线性回归方法研究了它们对稠油掺稀井井口压力的影响规律并进行了分析.结果表明:井口压力随着掺稀量、掺稀相对密度、掺稀温度及掺稀深度呈线性变化趋势,随着掺稀量、掺稀温度及掺稀深度的增加而增加,随着掺稀相对密度的增加而降低.掺稀量对井口压力的影响最大,而对掺稀相对密度、掺稀温度及掺稀深度的影响相对小些.

  12. 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…

  13. 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.…

  14. Sticky continuous processes have consistent price systems

    DEFF Research Database (Denmark)

    Bender, Christian; Pakkanen, Mikko; Sayit, Hasanjan

    Under proportional transaction costs, a price process is said to have a consistent price system, if there is a semimartingale with an equivalent martingale measure that evolves within the bid-ask spread. We show that a continuous, multi-asset price process has a consistent price system, under arb...

  15. 48 CFR 215.402 - Pricing policy.

    Science.gov (United States)

    2010-10-01

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

  16. 48 CFR 15.402 - Pricing policy.

    Science.gov (United States)

    2010-10-01

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

  17. 10 CFR 218.12 - Pricing.

    Science.gov (United States)

    2010-01-01

    ... 10 Energy 3 2010-01-01 2010-01-01 false Pricing. 218.12 Section 218.12 Energy DEPARTMENT OF ENERGY OIL STANDBY MANDATORY INTERNATIONAL OIL ALLOCATION Supply Orders § 218.12 Pricing. The price for oil subject to a supply order issued pursuant to this subpart shall be based on the price...

  18. 48 CFR 1615.402 - Pricing policy.

    Science.gov (United States)

    2010-10-01

    ... 48 Federal Acquisition Regulations System 6 2010-10-01 2010-10-01 true Pricing policy. 1615.402... Contract Pricing 1615.402 Pricing policy. Pricing of FEHB contracts is governed by 5 U.S.C. 8902(i), 5 U.S... for which the FEHB Program premiums for the contract term will be less than the threshold at FAR 15...

  19. Two tier pricing system recommendation and summary

    Energy Technology Data Exchange (ETDEWEB)

    None

    1974-06-01

    In both the U.S. and the world today the most critical price system problem is the spectacular crude price set by the OPEC monopoly. In the U.S. this $10.00 plus price currently sets the price of 60% of our crude petroleum input. Therefore, the most powerful method available to reduce U.S. crude input price inflation is to reduce the OPEC monopoly price by at least $2 or 20%. At this price, it would supposedly approximate the long run cost of such energy. The situation is reviewed and recommendations and a summary are provided.

  20. Dynamic pricing models for electronic business

    Indian Academy of Sciences (India)

    Y Narahari; C V L Raju; K Ravikumar; Sourabh Shah

    2005-04-01

    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 mathematical models, to derive the benefits of dynamic pricing. This article attempts to survey different models that have been used in dynamic pricing. We first motivate dynamic pricing and present underlying concepts, with several examples, and explain conditions under which dynamic pricing is likely to succeed. We then bring out the role of models in computing dynamic prices. The models surveyed include inventory-based models, data-driven models, auctions, and machine learning. We present a detailed example of an e-business market to show the use of reinforcement learning in dynamic pricing.

  1. Analysis on the Comparison of Vegetable Price

    Institute of Scientific and Technical Information of China (English)

    Na; LI; Jianmin; SHI

    2013-01-01

    In 2010,the garlic,bean and ginger became more expensive than ever,which made some people’s life harder.In response to such phenomena,the retail price and wholesale price at the producers’ end,the retail price and wholesale price at distributors’ end,and consumption related data(disposable income,consumption expenditure,fresh vegetables amount from 2004 to 2011 were compared and analyzed in this paper.Results showed that the average price(selling price,wholesale price and retail price) of five kinds of vegetables generally rose.There was certain differences in the price change range.Since 2004,especially in 2009 the vegetable prices had been so high that it had influenced the life of low income families in China.

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

    Institute of Scientific and Technical Information of China (English)

    黄民翔; 陶小虎; 韩祯祥

    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.

  3. Measuring Price Changes: A Study of the Price Indexes. Fourth Edition.

    Science.gov (United States)

    Wallace, William H.; Cullison, William E.

    This three-part monograph examines the major price indexes used to measure the intensity of inflation. The first part discusses the recent behavior of prices as measured by the Consumer Price Index (commodities, goods, and services), the Producer Price Index (wholesale prices of crude materials, intermediate materials, supplies, components, and…

  4. 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.

  5. Export channel pricing management for integrated solutions

    OpenAIRE

    Roine, Henna; Sainio, Liisa-Maija; Saarenketo, Sami

    2012-01-01

    This article studies systems integrators' export channel pricing management for integrated solutions. We find support from our empirical case study for the notion that a systems integrator's export channel pricing strategy is multidimensional and dependent on international pricing environment and partner characteristics and that export partnerships have unique implications on a systems integrator's pricing process. The results show that giving up pricing control in export channel context may ...

  6. Oil price shocks and stock market activity

    Energy Technology Data Exchange (ETDEWEB)

    Sadorsky, P. [Schulich School of Business, York University, Toronto, ON (Canada)

    1999-10-01

    Results from a vector autoregression show that oil prices and oil price volatility both play important roles in affecting real stock returns. There is evidence that oil price dynamics have changed. After 1986, oil price movements explain a larger fraction of the forecast error variance in real stock returns than do interest rates. There is also evidence that oil price volatility shocks have asymmetric effects on the economy. 29 refs.

  7. 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...

  8. Endogenous average cost based access pricing

    OpenAIRE

    Fjell, Kenneth; Foros, Øystein; Pal, Debashis

    2006-01-01

    We consider an industry where a downstream competitor requires access to an upstream facility controlled by a vertically integrated and regulated incumbent. The literature on access pricing assumes the access price to be exogenously fixed ex-ante. We analyze an endogenous average cost based access pricing rule, where both firms realize the interdependence among their quantities and the regulated access price. Endogenous access pricing neutralizes the artificial cost advantag...

  9. Sticky Price Models and Durable Goods

    OpenAIRE

    Robert Barsky; Christopher L. House; Miles Kimball

    2005-01-01

    This paper shows that there are striking implications that stem from including durable goods in otherwise conventional sticky price models. The behavior of these models depends heavily on whether durable goods are present and whether these goods have sticky prices. If long-lived durables have sticky prices, then even small durables sectors can cause the model to behave as though most prices were sticky. Conversely, if durable goods prices are flexible then the model exhibits unwelcome behavio...

  10. Marketing aspects of consumer price perception

    OpenAIRE

    Tsiligiannis, Georgios

    2009-01-01

    This thesis focuses on two theoretical approaches from the marketing literature: first, the degree to which consumers tend to associate a higher product price with a higher quality (price-perceived quality relationship) and second, the assumption that odd prices (prices set just below the nearest round figure) generate higher than expected demand at that level. The thesis concludes that there seems to exist an overall positive weak correlation between product price and perceived quality, whic...

  11. A Reconsideration of Full-Cost Pricing

    OpenAIRE

    Nubbemeyer, Elmar

    2010-01-01

    The wide use of full-cost pricing techniques remains an explanandum in both economics and management accounting theory. This work surveys and develops possible theoretical explanations of this industrial pricing behaviour and analyses some of its implications. By recognition of the widespread use of imperfect cost-plus pricing heuristics, observable pricing behaviour, as well as empirical market-level phenomena, can be explained. Furthermore, methodological aspects of marginalist price the...

  12. Export channel pricing management for integrated solutions

    OpenAIRE

    Roine, Henna; Sainio, Liisa-Maija; Saarenketo, Sami

    2012-01-01

    This article studies systems integrators' export channel pricing management for integrated solutions. We find support from our empirical case study for the notion that a systems integrator's export channel pricing strategy is multidimensional and dependent on international pricing environment and partner characteristics and that export partnerships have unique implications on a systems integrator's pricing process. The results show that giving up pricing control in export channel context may ...

  13. Price Impact and Survival of Irrational Traders

    OpenAIRE

    Leonid Kogan; Stephan Ross; Jiang Wang; Mark Westerfield

    2004-01-01

    Milton Friedman argued that irrational traders will consistently lose money, won’t survive and, therefore, cannot influence long run equilibrium asset prices. Since his work, survival and price impact have been assumed to be the same. In this paper, we demonstrate that survival and price impact are two independent concepts. The price impact of irrational traders does not rely on their long-run survival and they can have a significant impact on asset prices even when their wealth becomes negli...

  14. Hedonic Price Indices for Ground Vehicles

    Science.gov (United States)

    2015-05-01

    portion of price change that is unexplainable by other means. In previous work with aircraft, Harmon et al. (2014) found that cost progress curves...same time, we noticed that year-over-year price growth for most vehicle systems seemed higher than could be accounted for by simple inflation...quality growth terms attribute some of the observed price growth to that, leaving less unexplained price growth to be accounted for by the price index

  15. Price Sensitivity of Demand for Prescription Drugs

    DEFF Research Database (Denmark)

    Skipper, Lars; Simonsen, Marianne; Skipper, Niels

    This paper investigates price sensitivity of demand for prescription drugs using drug purchase records for at 20% random sample of the Danish population. We identify price responsiveness by exploiting exogenous variation in prices caused by kinked reimbursement schemes and implement a regression ...... education and income are, however, more responsive to the price. Also, essential drugs that prevent deterioration in health and prolong life have lower associated average price sensitivity....

  16. A GIS policy approach for assessing the effect of fertilizers on the quality of drinking and irrigation water and wellhead protection zones (Crete, Greece).

    Science.gov (United States)

    Kourgialas, Nektarios N; Karatzas, George P; Koubouris, Georgios C

    2017-03-15

    (wells) are located, this study highlights an analytic method for delineation wellhead protection zones. All these approaches were incorporated in a useful GIS decision support system that aids decision makers in the difficult task of protection groundwater resources. Copyright © 2016 Elsevier Ltd. All rights reserved.

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

    Science.gov (United States)

    Puig-Junoy, Jaume

    2010-01-01

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

  18. 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 ...

  19. Response of the Polish Wheat Prices to the Worlds Crude Oil Prices

    Directory of Open Access Journals (Sweden)

    HAMULCZUK

    2012-07-01

    Full Text Available Agricultural commodities prices play crucial role both in farmers income determination and in price relationship establishment for the whole economy. Among the factors influencing the wheat prices, crude oil prices are considered as one of the most important. The aim of this paper was to assess the character of linkage between world crude oil prices and Polish wheat prices. Results of the research confirm the existence of such linkage although the nature and the strength of this relationship changes over time. However, the long-run relationships between the crude oil and Polish wheat prices were not proven. Moreover, growing impact of crude oil prices on Polish wheat prices over time was not detected. The results suggest that exchange rates may strongly influence wheat prices. This in turn may weaken response of Polish wheat prices in relation to world crude oil prices.

  20. Studying the Effects of Negative and Positive Perceptions of Price on Price Mavenism

    Directory of Open Access Journals (Sweden)

    Hossein Vazifedoost

    2013-04-01

    Full Text Available Despite the importance of price mavens, little empirical research exists on understanding its theoretical and marketing drivers; especially in different cultural contexts Buyers in Iran often communicate positive and negative purchasing experiences through Word-of-Mouth (WOM, which creates special problems and opportunities for marketers. Price mavenism, which is associated with price-information searching and price-sharing behavior, is often considered as negative dimension of price. The purpose of this study, however, is to propose price mavenism as an outcome variable arising from both positive perceptions of price (prestige sensitivity and negative perceptions (price and value consciousness. For this purpose structured questionnaire was developed to collect data and totaling 206 questionnaires of Iranian consumers were analyzed. The conceptual model was tested using structural equation modeling. This study found that prestige sensitivity, price consciousness and value consciousness shaped price mavenism among the Iranians, supporting the idea that price mavenism arises from both positive and negative perceptions of price.

  1. 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...... using a Bayesian simulation methodology. Three main findings emerge from the analysis. Firstly, it seems that domestic rather than global or regional shocks are the main drivers of domestic food prices in all regions. Secondly, global factors have gained importance since 2005. Food inflation...... on the international commodity markets. The fourth paper argues that subsidy programmes can have a destabilizing effect on a country’s inflation in times of surging commodity prices if these lead to chronic public deficits. In the empirical analysis we compare the recent inflation experiences of Egypt, which has...

  2. 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.

  3. Understanding Price Formation in Electricity Markets

    Science.gov (United States)

    Kadoya, Toshihisa; Sasaki, Tetsuo; Yokoyama, Akihiko; Ihara, Satoru

    The electricity price will influence the future growth and mix of generation capacity that will in turn influence the future electricity price, and therefore, it is important to understand how electricity price is formed as well as its short-term and long-term impacts on the economy. This paper describes evaluation of PJM day-ahead market bidding data and comparison of various electricity markets in terms of the market clearing price and volatility. The objective is to find critical factors and mechanisms determining the movements of electricity price. It was found that speculation by a small number of bidders can cause price spikes, that a Nash equilibrium may exist during a delayed response of the electricity price to a decline of the fuel price, and that the hydro generation with storage capability effectively stabilizes the electricity price.

  4. Biofuel and Food-Commodity Prices

    Directory of Open Access Journals (Sweden)

    David Zilberman

    2012-09-01

    Full Text Available The paper summarizes key findings of alternative lines of research on the relationship between food and fuel markets, and identifies gaps between two bodies of literature: one that investigates the relationship between food and fuel prices, and another that investigates the impact of the introduction of biofuels on commodity-food prices. The former body of literature suggests that biofuel prices do not affect food-commodity prices, but the latter suggests it does. We try to explain this gap, and then show that although biofuel was an important contributor to the recent food-price inflation of 2001–2008, its effect on food-commodity prices declined after the recession of 2008/09. We also show that the introduction of cross-price elasticity is important when explaining soybean price, but less so when explaining corn prices.

  5. 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 so...... 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.......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...

  6. Prediction of future asset prices

    Science.gov (United States)

    Seong, Ng Yew; Hin, Pooi Ah; Ching, Soo Huei

    2014-12-01

    This paper attempts to incorporate trading volumes as an additional predictor for predicting asset prices. Denoting r(t) as the vector consisting of the time-t values of the trading volume and price of a given asset, we model the time-(t+1) asset price to be dependent on the present and l-1 past values r(t), r(t-1), ....., r(t-1+1) via a conditional distribution which is derived from a (2l+1)-dimensional power-normal distribution. A prediction interval based on the 100(α/2)% and 100(1-α/2)% points of the conditional distribution is then obtained. By examining the average lengths of the prediction intervals found by using the composite indices of the Malaysia stock market for the period 2008 to 2013, we found that the value 2 appears to be a good choice for l. With the omission of the trading volume in the vector r(t), the corresponding prediction interval exhibits a slightly longer average length, showing that it might be desirable to keep trading volume as a predictor. From the above conditional distribution, the probability that the time-(t+1) asset price will be larger than the time-t asset price is next computed. When the probability differs from 0 (or 1) by less than 0.03, the observed time-(t+1) increase in price tends to be negative (or positive). Thus the above probability has a good potential of being used as a market indicator in technical analysis.

  7. 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....

  8. 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....

  9. Fire Sales and House Prices

    DEFF Research Database (Denmark)

    Andersen, Steffen; Meisner Nielsen, Kasper

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

  10. Smart Pricing: Linking Pricing Decisions with Operational Insights

    NARCIS (Netherlands)

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

    2003-01-01

    textabstractThe past decade has seen a virtual explosion of information about customers and their preferences. This information potentially allows companies to increase their revenues, in particular since modern technology enables price changes to be effected at minimal cost. At the same time, compa

  11. Smart Pricing: Linking Pricing Decisions with Operational Insights

    NARCIS (Netherlands)

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

    2003-01-01

    textabstractThe past decade has seen a virtual explosion of information about customers and their preferences. This information potentially allows companies to increase their revenues, in particular since modern technology enables price changes to be effected at minimal cost. At the same time, compa

  12. Essays on pricing dynamics, price dispersion, and nested logit modelling

    Science.gov (United States)

    Verlinda, Jeremy Alan

    The body of this dissertation comprises three standalone essays, presented in three respective chapters. Chapter One explores the possibility that local market power contributes to the asymmetric relationship observed between wholesale costs and retail prices in gasoline markets. I exploit an original data set of weekly gas station prices in Southern California from September 2002 to May 2003, and take advantage of highly detailed station and local market-level characteristics to determine the extent to which spatial differentiation influences price-response asymmetry. I find that brand identity, proximity to rival stations, bundling and advertising, operation type, and local market features and demographics each influence a station's predicted asymmetric relationship between prices and wholesale costs. Chapter Two extends the existing literature on the effect of market structure on price dispersion in airline fares by modeling the effect at the disaggregate ticket level. Whereas past studies rely on aggregate measures of price dispersion such as the Gini coefficient or the standard deviation of fares, this paper estimates the entire empirical distribution of airline fares and documents how the shape of the distribution is determined by market structure. Specifically, I find that monopoly markets favor a wider distribution of fares with more mass in the tails while duopoly and competitive markets exhibit a tighter fare distribution. These findings indicate that the dispersion of airline fares may result from the efforts of airlines to practice second-degree price discrimination. Chapter Three adopts a Bayesian approach to the problem of tree structure specification in nested logit modelling, which requires a heavy computational burden in calculating marginal likelihoods. I compare two different techniques for estimating marginal likelihoods: (1) the Laplace approximation, and (2) reversible jump MCMC. I apply the techniques to both a simulated and a travel mode

  13. Periodicals Price Survey 2002: Doing the Digital Flip.

    Science.gov (United States)

    Van Orsdel, Lee; Born, Kathleen

    2002-01-01

    Presents the annual periodicals price study. Highlights include average prices; cost histories; cost projections for future budgeting; electronic journal issues; flip pricing, defined as online access at the core of pricing negotiations; various pricing models; purchasing print at deeply discounted prices; and current trends in pricing and in the…

  14. Spatial price dynamics: From complex network perspective

    Science.gov (United States)

    Li, Y. L.; Bi, J. T.; Sun, H. J.

    2008-10-01

    The spatial price problem means that if the supply price plus the transportation cost is less than the demand price, there exists a trade. Thus, after an amount of exchange, the demand price will decrease. This process is continuous until an equilibrium state is obtained. However, how the trade network structure affects this process has received little attention. In this paper, we give a evolving model to describe the levels of spatial price on different complex network structures. The simulation results show that the network with shorter path length is sensitive to the variation of prices.

  15. Application Service Program (ASP Price Elasticities

    Directory of Open Access Journals (Sweden)

    Hong Jaeweon

    2010-06-01

    Full Text Available Although the price elasticities for off-line industry are well documented in academic field, the report of price elasticities for on-line to a given brand or industry in practice have beenrelatively rare. The researcher aims to try to full this gap by applying a price response function to Home Trading System’s on-line transaction data for the first time in Korean securities market. The different price elasticities among seven brands were found from -0.819 to -1.811. These results suggested that marketers should understand the price elasticity of their own HTS, before making a price decision.

  16. Essays on price dynamics and consumer search

    Science.gov (United States)

    Lewis, Matthew Stephen

    It has been documented that retail gasoline prices respond more quickly to increases in wholesale price than to decreases. However, there is very little theoretical or empirical evidence identifying the market characteristics responsible for this behavior. Chapter 2 presents a new theoretical model of asymmetric adjustment that empirically matches observed retail gasoline price behavior better than previously suggested explanations. I develop a "reference price" consumer search model that assumes consumers' expectations of prices are based on prices observed during previous purchases. The model predicts that consumers search less when prices are falling. This reduced search results in higher profit margins and therefore causes a slower price response to cost decreases than to cost increases. Chapter 3 discusses the robustness of some of the important assumptions of the reference price search model, and describes the effects of altering these assumptions. Chapter 4 develops testable implications that distinguish my model from two alternative explanations of asymmetric adjustment. The first is a model in which firms temporarily collude using past prices as a focal price. The second theory suggests that increases in wholesale cost volatility reduce consumer search behavior. Using a panel of gas station prices, I estimate the response pattern of prices to a change in costs. Estimates are consistent with the predictions of the reference price search model and contradict the previously suggested explanations of asymmetric price adjustment. Chapter 5 examines the empirical fact that price response varies depending on the current level of profit margins. This fact is contrasted with the common empirical observation that response differs based on the direction of the change in cost. I go on to document that this relationship between price response and margins is observed in gasoline markets across the country.

  17. International drug price comparisons: quality assessment.

    Science.gov (United States)

    Machado, Márcio; O'Brodovich, Ryan; Krahn, Murray; Einarson, Thomas R

    2011-01-01

    To quantitatively summarize results (i.e., prices and affordability) reported from international drug price comparison studies and assess their methodological quality. A systematic search of the most relevant databases-Medline, Embase, International Pharmaceutical Abstracts (IPA), and Scopus, from their inception to May 2009-was conducted to identify original research comparing international drug prices. International drug price information was extracted and recorded from accepted papers. Affordability was reported as drug prices adjusted for income. Study quality was assessed using six criteria: use of similar countries, use of a representative sample of drugs, selection of specific types of prices, identification of drug packaging, different weights on price indices, and the type of currency conversion used. Of the 1 828 studies identified, 21 were included. Only one study adequately addressed all quality issues. A large variation in study quality was observed due to the many methods used to conduct the drug price comparisons, such as different indices, economic parameters, price types, basket of drugs, and more. Thus, the quality of published studies was considered poor. Results varied across studies, but generally, higher income countries had higher drug prices. However, after adjusting drug prices for affordability, higher income countries had more affordable prices than lower income countries. Differences between drug prices and affordability in different countries were found. Low income countries reported less affordability of drugs, leaving room for potential problems with drug access, and consequently, a negative impact on health. The quality of the literature on this topic needs improvement.

  18. House Prices and Public Debt

    DEFF Research Database (Denmark)

    Gjedsted Nielsen, Mads; Rzeznik, Aleksandra

    By using the 2002 case of fraud in the Danish municipality Farum by then mayor Peter Brixtofte as an exogenous shock to public debt of 1 billion DKK, I estimate the effect of public debt on house prices. I find that the average home ownership lost about 570,000 DKK or as much as 29% of the averag...

  19. Prices and heterogeneous search costs

    NARCIS (Netherlands)

    Luis Moraga-Gonzalez, Jose; Sandor, Zsolt; Wildenbeest, Matthijs R.

    2017-01-01

    We study price formation in a model of consumer search for differentiated products in which consumers have heterogeneous search costs. We provide conditions under which a pure-strategy symmetric Nash equilibrium exists and is unique. Search costs affect two margins-the intensive search margin (or se

  20. Asset prices and priceless assets

    NARCIS (Netherlands)

    Penasse, J.N.G.

    2014-01-01

    The doctoral thesis studies several aspects of asset returns dynamics. The first three chapters focus on returns in the fine art market. The first chapter provides evidence for the existence of a slow-moving fad component in art prices that induces short-term return predictability. The article has b

  1. Optimal pricing of capacitated networks

    NARCIS (Netherlands)

    Grigoriev, Alexander; Loon, van Joyce; Sitters, René; Uetz, Marc

    2009-01-01

    We address the algorithmic complexity of a profit maximization problem in capacitated, undirected networks. We are asked to price a set of $m$ capacitated network links to serve a set of $n$ potential customers. Each customer is interested in purchasing a network connection that is specified by a si

  2. Chinese Autos at Fancy Prices

    Institute of Scientific and Technical Information of China (English)

    LURUCAI

    2003-01-01

    MR. Wang waited two years to buy a car in the expectation that prices would fall on China's entering the WTO. This was not, however, the case. Cars are as costly as ever. Auto trade dealers know all too well the consumer wait-and-see approach to car purchases. One dealer at the

  3. Labor Unions and Asset Prices

    DEFF Research Database (Denmark)

    Busato, Francesco; Addessi, William

    The paper investigates the nexus between labor and financial markets, focusing on the interaction between labor union behavior in setting wages, firms' investment strategy and asset prices. The way unions set wage claims after observing firm's financial performance increases the volatility of firms...

  4. Energies prices; Prix des energies

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2006-01-15

    This document offers a synthesis of the main tariffs and prices of the energy for January 2006 and for 2004 and 2005. It concerns the transportation sector, the residential heating and the industry for different types of energy source. (A.L.B.)

  5. Credit Derivatives and Loan Pricing

    NARCIS (Netherlands)

    Norden, L.; Wagner, W.B.

    2007-01-01

    This paper examines the relationship between the new markets for credit default swaps (CDS) and the pricing of syndicated loans to U.S. corporates. We find that changes in CDS spreads have a significantly positive coefficient and explain about 25% of subsequent monthly changes in aggregate loan spre

  6. Raw materials prices under pressure

    OpenAIRE

    Kolbe, Heinz

    1984-01-01

    Since April 1984 there has been a general fall in world market prices for industrial raw materials following upon increases which, in some cases, had been quite considerable. What are the reasons for this development? What are the prospects for 1985?

  7. Restaurant no 2: Price increases

    CERN Multimedia

    2005-01-01

    Please note that the new price of the menus will be from now: Menu a) 8.20 CHF Menu b) 9.40 CHF Please note the modified opening times of the Restaurant, from 7:00 to 17:30 in winter. In summer, the closure will be at 18:00. Restaurant no2

  8. 井口称重式计量系统在油田的应用%The Application of Wellhead Weighing Metering System in Oilfield

    Institute of Scientific and Technical Information of China (English)

    李艾萤; 李秋莲; 张岳峰; 李秋香

    2016-01-01

    Put forward the "car tank storage transport" converted into pipeline technology, single- well measurement will become a key technology for pipeline transporting. Wellhead weighing metering system is mainly composed of single well entry line, multichannel valve, weighing sensor, left or right position sensor, tanks, oil and gas separator, single well gas export pipeline, hopper, distributor, skip, float controller, single well pipeline, single well flow export pipeline, etc. Metering system is added a full automatic multi-channel valve on the device, can access to ≤30 single-well respectively, through the computer to realize automatic switching of single well, continuous measurement of each single well pro-duced fluid volume, skip position sensor, automatic detection, recording, printing, dis-play operation parameters of each single well production,which can realize continuous auto-matic metering oil. The metering system can well solve the high viscosity of heavy oil and low oil and gas ratio single well oil well measurement problem,also can meet the thin oil and high oil and gas than single well oil well measurement at the same time,and has wide applica-bility.%自提出将“罐储车运”的原油输送方式改造成管道输送的工艺,单井计量就成为实现管输的关键性技术。井口称重式计量系统主要由单井入口管路、多路阀、称重传感器、左位置传感器、右位置传感器、罐体、油气分离器、单井气出口管路、集料斗、分布器、翻斗、浮子调节器、单井出口管路、单井汇流出口管路等组成。计量系统设置了一个全自动多路阀,最多可以接入30口单井,通过计算机实现单井的自动切换,连续测量每个单井的产液量。位置传感器检测翻斗的状态,自动检测、记录、打印、显示各单井的生产运行参数,可实现连续自动量油。该计量系统能较好地解决高黏度稠油和低油气比油井的单井计量

  9. Prices of Inorganic Chemicals Changed Differently

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    @@ Raw salt China's raw salt market price remained relatively stable in July 2007. The average ex-work prices of raw salt in Hebei province and the south of Liaoning province were RMB150/t and RMB165/t respectively.

  10. Internet Resource Pricing Models, Mechanisms, and Methods

    CERN Document Server

    He, Huan; Liu, Ying

    2011-01-01

    With the fast development of video and voice network applications, CDN (Content Distribution Networks) and P2P (Peer-to-Peer) content distribution technologies have gradually matured. How to effectively use Internet resources thus has attracted more and more attentions. For the study of resource pricing, a whole pricing strategy containing pricing models, mechanisms and methods covers all the related topics. We first introduce three basic Internet resource pricing models through an Internet cost analysis. Then, with the evolution of service types, we introduce several corresponding mechanisms which can ensure pricing implementation and resource allocation. On network resource pricing methods, we discuss the utility optimization in economics, and emphasize two classes of pricing methods (including system optimization and entities' strategic optimizations). Finally, we conclude the paper and forecast the research direction on pricing strategy which is applicable to novel service situation in the near future.

  11. Price of Fairness on Networked Auctions

    Directory of Open Access Journals (Sweden)

    Mariusz Kaleta

    2014-01-01

    as follows: no agent can be treated worse than any other in similar circumstances. Ensuring the fairness conditions makes only part of the social welfare available in the auction to be distributed on pure market rules. The rest of welfare must be distributed without market rules and constitutes the so-called price of fairness. We prove that there exists the minimum of price of fairness and that it is achieved when uniform unconstrained market price is used as the base price. The price of fairness takes into account costs of forced offers and compensations for lost profits. The final payments can be different than locational marginal pricing. That means that the widely applied locational marginal pricing mechanism does not in general minimize the price of fairness.

  12. A periodic pricing model considering reference effect

    Directory of Open Access Journals (Sweden)

    Yang Hui

    2016-01-01

    Full Text Available The purpose of this paper is to investigate the optimal pricing strategies with reference effects in revenue management settings. We firstly propose a static pricing model with the properties of stochastic demand, finite horizon and fixed capacity, and prove the existence and uniqueness of the solution. Secondly, we extend the fixed pricing model to a periodic pricing model and incorporate a memory-based reference price in the demand function to investigate how the reference effect impacts on traditional revenue management decisions. We present numerical examples in both low demand situations and high demand situations for different levels of reference effects and different updating frequencies. The results show that the dynamic pricing strategies are superior to a static one even when reference effects are taken into consideration. We also provide some manage-rial insights including pricing directions, pricing dispersion and the optimal updating frequency for both demand situations.

  13. 77 FR 71643 - Standard Mail Pricing

    Science.gov (United States)

    2012-12-03

    ... From the Federal Register Online via the Government Publishing Office POSTAL REGULATORY COMMISSION Standard Mail Pricing AGENCY: Postal Regulatory Commission. ACTION: Notice. SUMMARY: The Commission is noticing a recent Postal Service filing concerning Standard Mail pricing and related matters. This...

  14. 76 FR 17521 - Assessments, Large Bank Pricing

    Science.gov (United States)

    2011-03-30

    ... 327 RIN 3064-AD66 Assessments, Large Bank Pricing AGENCY: Federal Deposit Insurance Corporation (FDIC... Register of February 25, 2011 (76 FR 10672), regarding Assessments, Large Bank Pricing. This...

  15. Cigarette price minimization strategies used by adults

    National Research Council Canada - National Science Library

    Pesko, Michael F; Kruger, Judy; Hyland, Andrew

    2012-01-01

    .... We explored use of cigarette price minimization strategies, such as purchasing cartons of cigarettes, purchasing in states with lower after-tax cigarette prices, and purchasing on the Internet...

  16. New Round of Petroleum Products Price Adjustment

    Institute of Scientific and Technical Information of China (English)

    Hu Wenxiu

    2009-01-01

    @@ Background On December 18,2008,a new petroleum products pricing mechanism was carried out in China.According to the Procedure for the Administration of Oil Price(Trial)issued last month by National Development and Reform Commission,if the moving average price for crude oil in international market changes more than4% in 22 consecutive working days,the prices for gasoline and diesel in domestic market can be adjusted accordingly.

  17. Creative pricing strategies for medical services.

    Science.gov (United States)

    Tellis, G J

    1987-01-01

    This paper discusses the strategic role of the pricing of medical services. Strategic pricing is a creative process that can be a vital means of defining marketing segments, differentiating services, and gaining a competitive advantage. The central issue in strategic pricing is creatively using the principle of cross-subsidies or shared economies over consumer groups, service sets, or competitors. This principle yields a rich set of pricing strategies that can be used in response to various environments.

  18. Immigrant language barriers and house prices

    OpenAIRE

    Andreas M. Fischer

    2011-01-01

    Are language skills important in explaining the nexus between house prices and immigrant inflows? The language barrier hypothesis says immigrants from a non common language country value amenities more than immigrants from common language countries.> ; In turn, immigrants from non common language countries are less price sensitive to house price changes than immigrants from a common language country. Tests of the language barrier hypothesis with Swiss house prices show that an immigration inf...

  19. Pricing strategies in online & offline retailing

    OpenAIRE

    Gruber, Gottfried

    2008-01-01

    The thesis deals with pricing strategies for multichannel retailers, especially traditional stores which additionally manage an online shop. The problem of integrating two sales channels and applying a well-suited pricing strategy is still an emergent question. This work develops a stochastic model to represent consumer behavior on pricing. On the one hand the model contains two probability functions which render consumers' reservation prices for each individual channel. On the other hand the...

  20. Import price elasticities: reconsidering the evidence

    OpenAIRE

    Hélène Erkel-Rousse; Daniel Mirza

    2002-01-01

    Recent economic geography and trade empirical studies based on monopolistic competition suggest high levels of trade price elasticities (between 3 and 11). However, price elasticity estimations in trade equations using unit values as price proxies usually lead to lower values of around unity. We show that those inconclusive results may be due to some misspecification in these equations as well as measurement errors in prices. When suitable instrumental variables are used, within a panel of in...

  1. CO2 Allowance and Electricity Price Interaction

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    With the introduction of CO2 emission constraints on power generators in the European Union, climate policy is starting to have notable effects on energy markets. This paper sheds light on the links between CO2 prices, electricity prices, and electricity costs to industry. It is based on a series of interviews with industrial and electricity stakeholders, as well as a rich literature seeking to estimate the exact effect of CO2 prices on electricity prices.

  2. Surviving in the age of price transparency.

    Science.gov (United States)

    Donovan, Christopher J; Mazoh, Margery; Brown, James P; Moore, Sarah; Skalka, Christi

    2008-10-01

    *Healthcare organizations can develop a value-based pricing strategy that benefits both patients and the organization. *The value-based pricing strategy of the Cleveland Clinic is based on five key components of value-relationship to cost, payment considerations, quality, market tolerance, and consistency. *Seven interrelated work streams can be used to align pricing inputs around the five components of value-based pricing.

  3. The minimum wage and restaurant prices

    OpenAIRE

    Daniel Aaronson; Eric French; MacDonald, James M.

    2004-01-01

    Using both store-level and aggregated price data from the food away from home component of the Consumer Price Index survey, we show that restaurant prices rise in response to an increase in the minimum wage. These results hold up when using several different sources of variation in the data. We interpret these findings within a model of employment determination. The model implies that minimum wage hikes cause employment to fall and prices to rise if labor markets are competitive but potential...

  4. Import price elasticities: reconsidering the evidence

    OpenAIRE

    Hélène Erkel-Rousse; Daniel Mirza

    2002-01-01

    Recent economic geography and trade empirical studies based on monopolistic competition suggest high levels of trade price elasticities (between 3 and 11). However, price elasticity estimations in trade equations using unit values as price proxies usually lead to lower values of around unity. We show that those inconclusive results may be due to some misspecification in these equations as well as measurement errors in prices. When suitable instrumental variables are used, within a panel of in...

  5. Soaring Grain Prices Raise Global Concerns

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    @@ rain prices often dominate all other product prices, and an increase in their price is usually considered as a prelude to inflation. The three fairly serious inflations, in 1985, 1988-1989, and 1993-1995respectively, were all preceded by grain price hikes. Furthermore, the money supply surged in the preceding year or during the same year in which these inflations occurred. This year has witnessed the same symptoms.

  6. Regime-Switching Risk: To Price or Not to Price?

    Directory of Open Access Journals (Sweden)

    Tak Kuen Siu

    2011-01-01

    “normative” issues to be addressed in pricing contingent claims under a Markovian, regime-switching, Black-Scholes-Merton model. We address this issue using a minimal relative entropy approach. Firstly, we apply a martingale representation for a double martingale to characterize the canonical space of equivalent martingale measures which may be viewed as the largest space of equivalent martingale measures to incorporate both the diffusion risk and the regime-switching risk. Then we show that an optimal equivalent martingale measure over the canonical space selected by minimizing the relative entropy between an equivalent martingale measure and the real-world probability measure does not price the regime-switching risk. The optimal measure also justifies the use of the Esscher transform for option valuation in the regime-switching market.

  7. 14 CFR 381.13 - Price increases.

    Science.gov (United States)

    2010-01-01

    ... REGULATIONS SPECIAL EVENT TOURS § 381.13 Price increases. (a) Should the tour operator increase a participant's tour price by more than 10 percent (aggregate of all increases to that participant), that... refund within 14 days after the cancellation. (b) The tour operator shall not increase the tour price...

  8. Oligopolistic Competition in Price and Quality

    NARCIS (Netherlands)

    A. Dubovik (Andrei); M.C.W. Janssen (Maarten)

    2008-01-01

    textabstractWe consider an oligopolistic market where firms compete in price and quality and where consumers are heterogeneous in knowledge: some consumers know both the prices and quality of the products offered, some know only the prices and some know neither. We show that two types of signalling

  9. Food Prices Transmission In Rwanda: Econometric Analysis

    African Journals Online (AJOL)

    ahavugimana

    Results of Error Correction Model (ECM) show that the coefficient of error term is significant in all ... Cross-commodity price transmission happens when the price of a .... Increases of prices are explained by low growth production and high ...

  10. Boosting the accuracy of hedonic pricing models

    NARCIS (Netherlands)

    M.C. van Wezel (Michiel); M. Kagie (Martijn); R. Potharst (Rob)

    2005-01-01

    textabstractHedonic pricing models attempt to model a relationship between object attributes and the object's price. Traditional hedonic pricing models are often parametric models that suffer from misspecification. In this paper we create these models by means of boosted CART models. The method is

  11. Oil price shocks and European industries

    NARCIS (Netherlands)

    Scholtens, Bert; Yurtsever, Cenk

    2012-01-01

    We investigate the impact of oil price shocks at the industry level in the Euro area for the period 1983-2007. We use different oil price specifications and use dynamic VAR models and multivariate regression to investigate how 38 different industries respond to oil price shocks. We pay specific atte

  12. OPTIMAL PRICING OF A PERSONALIZED PRODUCT

    Institute of Scientific and Technical Information of China (English)

    Suresh P.SETHI

    2008-01-01

    This paper deals with optimal pricing of a personalized product such as a personal portrait or photo.A new model of the pricing structure inspired by two real-life cases is introduced to the literature and solved to obtain optimal photo sitting fees and the final product price.A sensitivity analysis with respect to the problem parameters is performed.

  13. A Tool To Assess Journal Price Discrimination.

    Science.gov (United States)

    Meyer, Richard W.

    2001-01-01

    The author designed an experiment to determine whether periodical price inflation might be dampened by electronic scholarship. This article discusses results of an econometric analysis of prices for 859 periodical titles for three consecutive years, and concludes with a description of an analytical tool that may be used to assess journal prices.…

  14. Third-Degree Price Discrimination Revisited

    Science.gov (United States)

    Kwon, Youngsun

    2006-01-01

    The author derives the probability that price discrimination improves social welfare, using a simple model of third-degree price discrimination assuming two independent linear demands. The probability that price discrimination raises social welfare increases as the preferences or incomes of consumer groups become more heterogeneous. He derives the…

  15. Online Price Discrimination and Data Protection Law

    NARCIS (Netherlands)

    Zuiderveen Borgesius, F.J.

    2015-01-01

    Online shops can offer each website customer a different price - a practice called first degree price discrimination, or personalised pricing. An online shop can recognise a customer, for instance through a cookie, and categorise the customer as a rich or a poor person. The shop could, for instance,

  16. Inorganic Chemicals Showed Different Price Change

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    @@ Raw salt The price of raw salt went down in May 2007, with the average price of sea salt in Shandong province dropping by RMB10/t to RMB80/t, compared with that of April 2007. The unduly output growth of raw salt caused the price downturn.

  17. Inventories and upstream gasoline price dynamics

    NARCIS (Netherlands)

    Kuper, Gerard H.

    2012-01-01

    This paper sheds new light on the asymmetric dynamics in upstream U.S. gasoline prices. The model is based on Pindyck's inventory model of commodity price dynamics. We show that asymmetry in gasoline price dynamics is caused by changes in the net marginal convenience yield: higher costs of marketing

  18. Pricing Strategies for CD-ROM Products.

    Science.gov (United States)

    Rowley, J. E.

    1994-01-01

    Pricing strategies for subscriptions and licenses for CD-ROMs are different for single users and networks. The basic components of pricing strategies are charges for subscription, connect line, display/print, telecommunication, session rate, special commands, and special services. Highlights selected supplier pricing strategies for single users…

  19. Oil price shocks and European industries

    NARCIS (Netherlands)

    Scholtens, Bert; Yurtsever, Cenk

    2012-01-01

    We investigate the impact of oil price shocks at the industry level in the Euro area for the period 1983-2007. We use different oil price specifications and use dynamic VAR models and multivariate regression to investigate how 38 different industries respond to oil price shocks. We pay specific atte

  20. Introducing Nonlinear Pricing into Consumer Choice Theory.

    Science.gov (United States)

    DeSalvo, Joseph S.; Huq, Mobinul

    2002-01-01

    Describes and contrasts nonlinear and linear pricing in consumer choice theory. Discusses the types of nonlinear pricing: block-declining tariff, two-part tariff, three-part tariff, and quality discounts or premia. States that understanding nonlinear pricing enhances student comprehension of consumer choice theory. Suggests teaching the concept in…

  1. Improving on daily measures of price discovery

    DEFF Research Database (Denmark)

    Dias, Gustavo Fruet; Fernandes, Marcelo; Scherrer, Cristina

    We formulate a continuous-time price discovery model in which the price discovery measure varies (stochastically) at daily frequency. We estimate daily measures of price discovery using a kernel-based OLS estimator instead of running separate daily VECM regressions as standard in the literature. ...

  2. Oil price shocks and European industries

    NARCIS (Netherlands)

    Scholtens, Bert; Yurtsever, Cenk

    We investigate the impact of oil price shocks at the industry level in the Euro area for the period 1983-2007. We use different oil price specifications and use dynamic VAR models and multivariate regression to investigate how 38 different industries respond to oil price shocks. We pay specific

  3. Power Price Cuts to Drive Economic Growth

    Institute of Scientific and Technical Information of China (English)

    Ma Lei

    2002-01-01

    @@ The economy of South China's Guangdong Province should developed more rapidly thanks to recent cuts in electricity prices, Lin Lin, deputy director of Guangdong Price Bureau, predicted in an interview with news media in early June, adding that the reduction in electricity prices would benefit economic development in Guangdong Province.

  4. Analytic American Option Pricing and Applications

    NARCIS (Netherlands)

    Sbuelz, A.

    2003-01-01

    I use a convenient value breakdown in order to obtain analytic solutions for finitematurity American option prices.Such a barrier-option-based breakdown yields an analytic lower bound for the American option price, which is as price-tight as the Barone-Adesi and Whaley (1987) analytic value proxy fo

  5. Monopoly price discrimination with constant elasticity demand

    OpenAIRE

    Aguirre Pérez, Iñaki; Cowan, Simon George

    2013-01-01

    This paper presents new results on the welfare e¤ects of third-degree price discrimination under constant elasticity demand. We show that when both the share of the strong market under uniform pricing and the elasticity di¤erence between markets are high enough,then price discrimination not only can increase social welfare but also consumer surplus.

  6. Changing Prices in a Weak Housing Market

    Institute of Scientific and Technical Information of China (English)

    Xu Dianqing

    2008-01-01

    @@ First, the adjustment in housing prices are in some cases just a regular marketing strategy. Speculation is restrained by macrocontrol policies, which naturally slows down a price increase.It is also predictable that some unreasonably high prices will need to be readjusted.

  7. 75 FR 34074 - Postal Pricing Methods

    Science.gov (United States)

    2010-06-16

    ... the fact by applying a measure of price sensitivity (elasticity) to volumes actually mailed during the....\\6\\ Elliot's analysis applied price elasticities from the Postal Service's demand model to the...., September 19, 2002. Elasticity is a measure of the volume response to a price change. Roughly...

  8. Monopoly price discrimination with constant elasticity demand

    OpenAIRE

    Aguirre Pérez, Iñaki; Cowan, Simon George

    2013-01-01

    This paper presents new results on the welfare e¤ects of third-degree price discrimination under constant elasticity demand. We show that when both the share of the strong market under uniform pricing and the elasticity di¤erence between markets are high enough,then price discrimination not only can increase social welfare but also consumer surplus.

  9. 78 FR 29785 - Priority Mail Pricing

    Science.gov (United States)

    2013-05-21

    ... Priority Mail Pricing AGENCY: Postal Regulatory Commission. ACTION: Notice. SUMMARY: The Commission is... using Merchandise Return Service, Priority Mail Open and Distribute, or Premium Forwarding Service. Id....452 percent. Id. at 5. The Postal Service indicates that after the price change, the unused pricing...

  10. Oligopolistic Competition in Price and Quality

    NARCIS (Netherlands)

    A. Dubovik (Andrei); M.C.W. Janssen (Maarten)

    2008-01-01

    textabstractWe consider an oligopolistic market where firms compete in price and quality and where consumers are heterogeneous in knowledge: some consumers know both the prices and quality of the products offered, some know only the prices and some know neither. We show that two types of signalling

  11. A model for the effects of psychological pricing in Gabor-Granger price studies

    NARCIS (Netherlands)

    Wedel, M; Leeflang, PSH

    We present a model of consumers' price sensitivity that explicitly deals with the existence of so-called psychological price levels or odd prices, i.e. prices ending in an odd number. The model is formulated in a latent class framework, in which splines are used to model utility as a function of

  12. How Well Does the Price of Unleaded Gasoline Predict the Price of Ethanol?

    OpenAIRE

    Swenson, David A.

    2008-01-01

    This paper looks at the historical relationship of unleaded gasoline prices relative to ethanol prices. It uses several basic measures to determine the usefulness of wholesale unleaded gasoline price as a determinant of ethanol price, and it looks at the stability of that simple model over this decade.

  13. Cost-Sharing and Drug Pricing Strategies : Introducing Tiered Co-Payments in Reference Price Markets

    NARCIS (Netherlands)

    Suppliet, Moritz; Herr, Annika

    2016-01-01

    Health insurances curb price insensitive behavior and moral hazard of insureds through different types of cost-sharing, such as tiered co-payments or reference pricing. This paper evaluates the effect of newly introduced price limits below which drugs are exempt from co-payments on the pricing

  14. Cost-Sharing and Drug Pricing Strategies : Introducing Tiered Co-Payments in Reference Price Markets

    NARCIS (Netherlands)

    Herr, Annika; Suppliet, Moritz

    2016-01-01

    Health insurances curb price insensitive behavior and moral hazard of insureds through different types of cost-sharing, such as tiered co-payments or reference pricing. This paper evaluates the effect of newly introduced price limits below which drugs are exempt from co-payments on the pricing strat

  15. A model for the effects of psychological pricing in Gabor-Granger price studies

    NARCIS (Netherlands)

    Wedel, M; Leeflang, PSH

    1998-01-01

    We present a model of consumers' price sensitivity that explicitly deals with the existence of so-called psychological price levels or odd prices, i.e. prices ending in an odd number. The model is formulated in a latent class framework, in which splines are used to model utility as a function of pri

  16. Determining Price Reasonableness in Federal ESPCs

    Energy Technology Data Exchange (ETDEWEB)

    Shonder, J.A.

    2005-03-08

    This document reports the findings and implementation recommendations of the Price Reasonableness Working Group to the Federal ESPC Steering Committee. The working group was formed to address concerns of agencies and oversight organizations related to pricing and fair and reasonable price determination in federal energy savings performance contracts (ESPCs). This report comprises the working group's recommendations and is the proposed draft of a training curriculum on fair and reasonable price determination for users of federal ESPCs. The report includes: (1) A review of federal regulations applicable to determining price reasonableness of federal ESPCs (section 2), (2) Brief descriptions of the techniques described in Federal Acquisition Regulations (FAR) 15.404-1 and their applicability to ESPCs (section 3), and (3) Recommended strategies and procedures for cost-effectively completing price reasonableness determinations (sections 4). Agencies have struggled with fair and reasonable price determinations in their ESPCs primarily because this alternative financing vehicle is relatively new and relatively rare in the federal sector. The methods of determining price reasonableness most familiar to federal contracting officers (price competition based on the government's design and specifications, in particular) are generally not applicable to ESPCs. The regulatory requirements for determining price reasonableness in federal ESPCs have also been misunderstood, as federal procurement professionals who are inexperienced with ESPCs are further confused by multiple directives, including Executive Order 13123, which stresses life-cycle cost-effectiveness. Uncertainty about applicable regulations and inconsistent practice and documentation among agencies have fueled claims that price reasonableness determinations have not been sufficiently rigorous in federal ESPCs or that the prices paid in ESPCs are generally higher than the prices paid for similar goods and

  17. 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.

  18. [Pharmaceutical reference pricing in Germany: definition of therapeutic groups, price setting through regression procedure and effects].

    Science.gov (United States)

    Stargardt, T; Schreyögg, J; Busse, R

    2005-07-01

    The German reference pricing system defines a reimbursement threshold for groups of pharmaceuticals. Pharmaceuticals are grouped according to certain criteria by the Federal Joint Committee. To make different active ingredients comparable, so called reference values are defined. Subsequently, the federal association of sickness funds sets reference prices using a regression procedure. However, the impact of the reference price system is limited. On the one hand there is a strong incentive for pharmaceutical companies to decrease prices to the reference price. On the other hand there is no incentive for further price reductions. Additionally, only one part of the pharmaceutical market is affected by reference pricing. Therefore the instrument has only managed to lower pharmaceutical expenditure in the short run. For sustainable long-term cost containment the use of other regulatory instruments is necessary. Nevertheless, compared to other instruments of price-regulation, reference pricing seems to be a good alternative to control pharmaceutical prices, since rationing is kept as little as possible.

  19. New empirical generalizations on the determinants of price elasticity

    NARCIS (Netherlands)

    Bijmolt, THA; Van Heerde, HJ; Pieters, RGM

    The importance of pricing decisions for firms has fueled an extensive stream of research on price elasticities. In an influential meta-analytical study, Tellis (1988) summarized price elasticity research findings until 1986. However, empirical generalizations on price elasticity require

  20. Electricity Pricing Policy Should Serve Macro-Economic Control

    Institute of Scientific and Technical Information of China (English)

    Zhao Xiaoping

    2005-01-01

    The National Development and Reform Commission beefed up its efforts to promote the work of electricity price reform in 2004. It took measures in aspects of easing price contradictions, tentatively implementing discriminated price and time-of-use price and issuing a policy on the linkage of coal and electricity prices and price administration. In 2005 the basic thinking of the Commission's electricity price reform is to actively advance the pilot work of price reform,carry out the reform of transmission and distribution price, enlarge the scope of pilot work of large consumer's direct purchase, simplify sales price structure and bring about the linkage of coal and electricity prices.

  1. Semi-analytical MBS Pricing

    DEFF Research Database (Denmark)

    Rom-Poulsen, Niels

    2007-01-01

    interest rate model. However, if the pool size is specified in a way that makes the expectations solvable using transform methods, semi-analytic pricing formulas are achieved. The affine and quadratic pricing frameworks are combined to get flexible and sophisticated prepayment functions. We show...... that the model has no problem of generating negative convexity as the spot rate falls, and still be close to a similar non-callable bond when the spot rate rises.......This paper presents a multi-factor valuation model for fixed-rate callable mortgage backed securities (MBS). The model yields semi-analytic solutions for the value of MBS in the sense that the MBS value is found by solving a system of ordinary differential equations. Instead of modelling...

  2. Pricing strategies for information goods

    Indian Academy of Sciences (India)

    Siva Viswanathan; G Anandalingam

    2005-04-01

    Digital or information goods are becoming the norm across a wide variety of industries including books, music, entertainment, gaming and education. Due to the fact that the marginal cost of producing or reproducing information goods is very low, it is much easier to customise and personalise them for individual users. Furthermore, sellers of these information goods are increasingly using bundling and versioning strategies to appropriate a greater share of the surplus. This paper examines recent research on pricing of information goods with particular focus on customisation, bundling and versioning strategies adopted by information goods providers. The paper highlights both game-theoretic as well as optimisation models that not only provide different perspectives, but also examine issues of information goods pricing at different levels of abstraction and complexity.

  3. Fairness through Transparency: The Influence of Price Transparency on Consumer Perceptions of Price Fairness

    OpenAIRE

    Rothenberger, Sandra

    2015-01-01

    This study proposes that price transparency is a significant factor affecting customer judgments of the fairness of sellers’ prices. Cognitive judgments of fairness require a certain amount of information processing; therefore, the level of transparency and the amount of price information affect fairness judgments. The more clear information consumers possess concerning seller prices, the more positive the judgment will be. Customer price fairness judgment is an effective measurement for the ...

  4. Price-cap Regulation, Uncertainty and the Price Evolution of New Pharmaceuticals.

    Science.gov (United States)

    Shajarizadeh, Ali; Hollis, Aidan

    2015-08-01

    This paper examines the effect of the regulations restricting price increases on the evolution of pharmaceutical prices. A novel theoretical model shows that this policy leads firms to price new drugs with uncertain demand above the expected value initially. Price decreases after drug launch are more likely, the higher the uncertainty. We empirically test the model's predictions using data from the Canadian pharmaceutical market. The level of uncertainty is shown to play a crucial role in drug pricing strategies.

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

    Science.gov (United States)

    Yang, Yanliang; Davis, George C; Muth, Mary K

    2015-07-01

    An ongoing debate in the literature is how to measure the price of food. Most analyses have not considered the value of time in measuring the price of food. Whether or not the value of time is included in measuring the price of a food may have important implications for classifying foods based on their relative cost. The purpose of this article is to compare prices that exclude time (time-exclusive price) with prices that include time (time-inclusive price) for 2 types of home foods: home foods using basic ingredients (home recipes) vs. home foods using more processed ingredients (processed recipes). The time-inclusive and time-exclusive prices are compared to determine whether the time-exclusive prices in isolation may mislead in drawing inferences regarding the relative prices of foods. We calculated the time-exclusive price and time-inclusive price of 100 home recipes and 143 processed recipes and then categorized them into 5 standard food groups: grains, proteins, vegetables, fruit, and dairy. We then examined the relation between the time-exclusive prices and the time-inclusive prices and dietary recommendations. For any food group, the processed food time-inclusive price was always less than the home recipe time-inclusive price, even if the processed food's time-exclusive price was more expensive. Time-inclusive prices for home recipes were especially higher for the more time-intensive food groups, such as grains, vegetables, and fruit, which are generally underconsumed relative to the guidelines. Focusing only on the sticker price of a food and ignoring the time cost may lead to different conclusions about relative prices and policy recommendations than when the time cost is included. © 2015 American Society for Nutrition.

  6. Export Pricing and the Cross-Country Correlation of Stock Prices

    OpenAIRE

    Tervala, Juha

    2009-01-01

    This study analyses cross-country correlations of stock prices (values of firms) using the basic New Open Economy Macroeconomics model. We show that cross-country correlations of stock prices greatly depend on the currency of export pricing in the case of monetary shocks but not notably for temporary technology shocks. In the case of a money supply shock, the producer (local) currency pricing version of the model generates a negative (positive) cross-country correlation of stock prices.

  7. INFLUENCING FACTORS OF PRICE AND ASSOCIATED STRATEGIES

    OpenAIRE

    Liviu NEAMTU; NEAMTU Adina Claudia

    2012-01-01

    The price is an important element in product position; it is a means of sending signals to consumers about the nature and quality of the product. When, for a certain business environment, the demand curve is known in relation to market (competition) costs and prices, the firm can choose a pricing policy simultaneously with business strategy. This study synthesizes the key-factors occurring in choosing a business strategy and the game of price and cost on the market As an approach to pricing p...

  8. Market Entry, Product Quality And Price Competition

    Directory of Open Access Journals (Sweden)

    Mathur Sameer

    2015-08-01

    Full Text Available We study an entrant firm’s product quality choice and the price competition arising between the entrant and the incumbent firm. We show that the entrant firm should introduce a relatively higher (lower quality than the incumbent firm when the consumers’ valuation for quality is sufficiently large (small. We also study how the incumbent firm modifies its price in response to the ensuing price competition. We find that the incumbent firm should decrease its price. We also profile how the incumbent firm’s price non-linearly depends on consumers’ valuation for quality.

  9. Option pricing, Bayes risks and Applications

    OpenAIRE

    Yatracos, Yannis G.

    2013-01-01

    A statistical decision problem is hidden in the core of option pricing. A simple form for the price C of a European call option is obtained via the minimum Bayes risk, R_B, of a 2-parameter estimation problem, thus justifying calling C Bayes (B-)price. The result provides new insight in option pricing, among others obtaining C for some stock-price models using the underlying probability instead of the risk neutral probability and giving R_B an economic interpretation. When logarithmic stock p...

  10. Estimating Hedonic Price Indices for Ground Vehicles

    Science.gov (United States)

    2015-06-01

    organizations use price indices to distinguish sector-specific real price growth from general inflation  OMB uses price indices to estimate the relative...I N S T I T U T E F O R D E F E N S E A N A L Y S E S Estimating Hedonic Price Indices for Ground Vehicles (Presentation) David M. Tate Stanley...currently valid OMB control number. 1. REPORT DATE JUN 2015 2. REPORT TYPE 3. DATES COVERED 4. TITLE AND SUBTITLE Estimating Hedonic Price

  11. Pay-what-you-want pricing schemes

    DEFF Research Database (Denmark)

    Kahsay, Goytom Abraha; Samahita, Margaret

    decisions and optimal prices across individuals. When a good is sold at a fixed price higher than a threshold value, a price that the individual thinks is fair, the adoption of PWYW increases his utility and hence results in a weakly higher purchase rate. When a good is sold at a fixed price lower than...... this threshold, however, PWYW can lead to a lower utility. This may result in a lower purchase rate and higher average price, in line with previously unexplained evidence from field experiments. Moreover, an increase in the threshold value decreases the buyer's utility and may further lower the purchase rate...

  12. Coal exporters win significant price increases

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2001-04-01

    Coal exports won a 3 dollars/t or almost 8% rise in hard coking coal prices to lift the benchmark Goonyella brand to 42.75 dollars/t. This was followed by major price increases for semi-hard coking coal with the prices of some grades increased by 8 dollars/t or by more than 23%. The new prices will come into effect for the year beginning April, 2001 and acre then first price rises in two years. The article reviews the major Asia countries with their coal supply information. 1 tab., 4 photos.

  13. State energy-price system: 1981 update

    Energy Technology Data Exchange (ETDEWEB)

    Fang, J.M.; Imhoff, K.L.; Hood, L.J.

    1983-08-01

    This report updates the State Energy Price Data System (STEPS) to include state-level energy prices by fuel and by end-use sectors for 1981. Both physical unit prices and Btu prices are presented. Basic documentation of the data base remains generally the same as in the original report: State Energy Price System; Volume 1: Overview and Technical Documentation (DOE/NBB-0029 Volume 1 of 2, November 1982). The present report documents only the changes in procedures necessitated by the update to 1981 and the corrections to the basic documentation.

  14. PRICE DISCRIMINATION THROUGH GROUP BUYING

    OpenAIRE

    2016-01-01

    This paper argues that when consumers are heterogeneous in group-buying costs, a monopolist seller may practice price discrimination through inducing certain consumers to participate in group buying. In contrast to the standard model, the optimal quantity/quality level for low valuation consumers without group buying is further distorted downward, whereas the levels for other consumers are socially optimal. Inducing group buying is more favorable when the proportion of high valuation consumer...

  15. Energy prices; Prix des energies

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-01-15

    This folder presents a synthesis of the main energy tariffs and prices in January 2007 and their comparison with the average annual data for 2005 and 2006. Data are presented in tables by sector of activity and by energy source: transports (automotive fuels), residential (fuel oil, district heating, propane, coal, wood-fuel, electricity, natural gas), industry (natural gas, electricity, heavy fuel oil, coal). (J.S.)

  16. Option Pricing using Realized Volatility

    DEFF Research Database (Denmark)

    Stentoft, Lars Peter

    In the present paper we suggest to model Realized Volatility, an estimate of daily volatility based on high frequency data, as an Inverse Gaussian distributed variable with time varying mean, and we examine the joint properties of Realized Volatility and asset returns. We derive the appropriate...... benchmark model estimated on return data alone. Hence the paper provides evidence on the value of using high frequency data for option pricing purposes....

  17. Prices Up and Volumes Stable

    Institute of Scientific and Technical Information of China (English)

    2011-01-01

    2011 First Half China Garment Industry Report Exports Grew at a Slower Pace China Customs reported the garment & accessories export value of $51.286 billion for the first five months of this year, up 23.12% y/y, accounting for 56.28 percent of the total, 5% lower than the previous year’s points.Despite sales prices increase, sales volume remain stable. From Jan. to May

  18. Option Pricing using Realized Volatility

    DEFF Research Database (Denmark)

    Stentoft, Lars Peter

    In the present paper we suggest to model Realized Volatility, an estimate of daily volatility based on high frequency data, as an Inverse Gaussian distributed variable with time varying mean, and we examine the joint properties of Realized Volatility and asset returns. We derive the appropriate d...... benchmark model estimated on return data alone. Hence the paper provides evidence on the value of using high frequency data for option pricing purposes....

  19. DEVELOPMENT OF A MARKET BENCHMARK PRICE FOR AGMAS PERFORMANCE EVALUATIONS

    OpenAIRE

    Good, Darrel L.; Irwin, Scott H.; Jackson, Thomas E.

    1998-01-01

    The purpose of this research report is to identify the appropriate market benchmark price to use to evaluate the pricing performance of market advisory services that are included in the annual AgMAS pricing performance evaluations. Five desirable properties of market benchmark prices are identified. Three potential specifications of the market benchmark price are considered: the average price received by Illinois farmers, the harvest cash price, and the average cash price over a two-year crop...

  20. What Factors Affect the Prices of Low-Priced U.S. Solar PV Systems?

    Energy Technology Data Exchange (ETDEWEB)

    OShaughnessy, Eric J [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Nemet, Greg [University of Wisconsin-Madison; Wiser, Ryan [Lawrence Berkeley National Laboratory; Darghouth, Naim [Lawrence Berkeley National Laboratory; Barbose, Galen [Lawrence Berkeley National Laboratory; Gillingham, Ken [Lawrence Berkeley National Laboratory; Rai, Varun [Lawrence Berkeley National Laboratory

    2017-08-09

    The price of solar PV systems has declined rapidly, yet there are some much lower-priced systems than others. This study explores the factors that determine prices in these low-priced (LP) systems. Using a data set of 42,611 residential-scale PV systems installed in the U.S. in 2013, we use quantile regressions to estimate the importance of factors affecting the installed prices for LP systems (those at the 10th percentile) in comparison to median-priced systems. We find that the value of solar to consumers-a variable that accounts for subsidies, electric rates, and PV generation levels-is associated with lower prices for LP systems but higher prices for median priced systems. Conversely, systems installed in new home construction are associated with lower prices at the median but higher prices for LP. Other variables have larger price-reducing effects on LP than on median priced systems: systems installed in Arizona and Florida, as well as commercial and thin film systems. In contrast, the following have a smaller effect on prices for LP systems than median priced systems: tracking systems, self-installations, systems installed in Massachusetts, the system size, and installer experience. These results highlight the complex factors at play that lead to LP systems and shed light into how such LP systems can come about.

  1. Retrospective Evaluation of Appliance Price Trends

    Energy Technology Data Exchange (ETDEWEB)

    Dale, Larry; Antinori, Camille; McNeil, Michael; McMahon, James E.; Fujita, K. Sydny

    2008-07-20

    Real prices of major appliances (refrigerators, dishwashers, heating and cooling equipment) have been falling since the late 1970s despite increases in appliance efficiency and other quality variables. This paper demonstrates that historic increases in efficiency over time, including those resulting from minimum efficiency standards, incur smaller price increases than were expected by Department of Energy (DOE) forecasts made in conjunction with standards. This effect can be explained by technological innovation, which lowers the cost of efficiency, and by market changes contributing to lower markups and economies of scale in production of higher efficiency units. We reach four principal conclusions about appliance trends and retail price setting: 1. For the past several decades, the retail price of appliances has been steadily falling while efficiency has been increasing. 2. Past retail price predictions made by DOE analyses of efficiency standards, assuming constant prices over time, have tended to overestimate retail prices. 3. The average incremental price to increase appliance efficiency has declined over time. DOE technical support documents have typically overestimated this incremental price and retail prices. 4. Changes in retail markups and economies of scale in production of more efficient appliances may have contributed to declines in prices of efficient appliances.

  2. Price volatility in wind dominant electricity markets

    DEFF Research Database (Denmark)

    Farashbashi-Astaneh, Seyed-Mostafa; Chen, Zhe

    2013-01-01

    High penetration of intermittent renewable energy sources causes price volatility in future electricity markets. This is specially the case in European countries that plan high penetration levels. This highlights the necessity for revising market regulations and mechanisms in accordance to genera......High penetration of intermittent renewable energy sources causes price volatility in future electricity markets. This is specially the case in European countries that plan high penetration levels. This highlights the necessity for revising market regulations and mechanisms in accordance...... electricity markets. High price volatility is unappreciated because it imposes high financial risk levels to both electricity consumers and producers. Additionally high price variations impede tracking price signals by consumers in future smart grid and jeopardize implementation of demand response concepts....... The main contribution of this paper is to quantify volatility patterns of electricity price, as penetration level of wind power increases. Results explain a direct relationship between wind penetration and electricity price volatility in a quantitative manner....

  3. PRICE TRANSMISSION IN SELECTED MALAYSIAN FRUITS MARKETS

    Directory of Open Access Journals (Sweden)

    Fatimah Mohamed Arshad

    2014-01-01

    Full Text Available The market for fresh produce such as fruits in Malaysia is alleged to be inefficient due to poor flow of information between market levels and uncompetitive market particularly at the wholesale and retail levels. Due to these structural problems, pricing efficiency is questionable, in that they are not integrated. This study intends to examine the cointegration and causality relationships between the farm and retail prices in the Malaysian market of fruits. To that end, the bivariate cointegration approach, using Granger causality tests, is applied. The study uses monthly data from January 2000 through December 2010. The results show that there is evidence of long run bidirectional causal relationship between farm and retail prices for banana and watermelon. However, the analysis revealed a long run unidirectional relationship from farm prices to retail prices with no evidence of reverse or feedback causality running from farm price to retail prices for jackfruit and durian.

  4. Application of Pricing Strategy in the Management of Recreational Fishery

    OpenAIRE

    Zhang, Chen; Han, Xingyong

    2009-01-01

    This paper analyzes the feasibility of carrying out various pricing strategies in recreational fishery management. It also introduces the four common pricing means, which are time (season) differential pricing, customer differential pricing, quantity discount and two-part tariff system. The effects of pricing strategy of recreational fishery on social welfare are studied taking time (season) differential pricing as an example.

  5. Identifying of risks in pricing using a regression model of demand on price dependence

    Directory of Open Access Journals (Sweden)

    O.I. Yashkina

    2016-09-01

    Full Text Available The aim of the article. The main purpose of the article is to describe scientific and methodological approaches of determining the price elasticity of demand as a regression model based on the price and risk assessment of price variations on the received model. The results of the analysis. The study is based on the assumption that the index of price elasticity of demand on high-tech innovation is not constant as it is commonly understood in the classical sense. On the stage of commodity market release and subsequent sales growth, the index of price elasticity of demand may vary within certain limits. Index value and thereafter market response are closely related to the current price. Achieving the stated purpose of the article is possible when having factual information about prices and corresponding volumes of sales of new high-tech products for a short period of time, on the basis of which types of demand and prices interrelation are modeled. Risk assessment of pricing and profit optimization by the regression of demand depending on price consists of three stages: a obtaining of a regression model of the demand on the price; b obtaining of function of demand price elasticity and risk assessment of pricing depending on behavior of the function; c determination of the price of company to receive a maximum operating profit based on the specific model of price to demand function. To receive the regression model of dependence of demand on price it is recommended to use specific reference models. The article includes linear, hyperbolic and parabolic models. The regression dependence of price elasticity of demand on price for each of the reference models of demand is obtained on the basis of the function elasticity concept in mathematical analysis. The concept of «function of price elasticity of demand» expresses this dependence. For the received functions of price elasticity of demand, the article provides intervals with the highest and lowest

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

    Institute of Scientific and Technical Information of China (English)

    黄民翔; 陶小虎; 韩祯祥

    2003-01-01

    Some characteristics of the electricity load and prices are studied, and the relationship between electricity prices and gas (fnel) prices is analyzed in this paper. Because electricity prices are strongly depen-dent 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.

  7. Regulation of pharmaceutical prices: evidence from a reference price reform in Denmark.

    Science.gov (United States)

    Kaiser, Ulrich; Mendez, Susan J; Rønde, Thomas; Ullrich, Hannes

    2014-07-01

    Reference price systems for prescription drugs constitute widely adopted cost containment tools. Under these regimes, patients co-pay a fraction of the difference between a drug's pharmacy retail price and a reference price that is set by the government. Reference prices are either externally (based on drug prices in other countries) or internally (based on domestic drug prices) determined. We study the effects of a change from external to internal reference pricing in Denmark in 2005. We find that the reform led to substantial reductions in retail prices, reference prices and patient co-payments as well as to sizable decreases in overall producer revenues and health care expenditures. The reform induced consumers to substitute away from branded drugs for which we estimate strong preferences. The increase in consumer welfare due to the reform therefore depends on whether or not we take perceived quality differences into account in its calculation. Copyright © 2014 Elsevier B.V. All rights reserved.

  8. What Factors Affect the Prices of Low-Priced U.S. Solar PV Systems?

    Energy Technology Data Exchange (ETDEWEB)

    Nemet, Gregory F.; O' Shaughnessy, Eric; Wiser, Ryan; Darghouth, Naïm R.; Barbose, Galen; Gillingham, Ken; Rai, Varun

    2017-09-06

    The price of solar PV systems has declined rapidly, yet there are some much lower-priced systems than others. This study explores the factors leading some systems to be so much lower priced than others. Using a data set of 42,611 residential-scale PV systems installed in the U.S. in 2013, we use quantile regressions to estimate the importance of factors affecting the installed prices for low-priced (LP) systems (those at the 10th percentile) in comparison to median-priced systems. We find that the value of solar to consumers–a variable that accounts for subsidies, electric rates, and PV generation levels–is associated with lower prices for LP systems but higher prices for median priced systems. Conversely, systems installed in new home construction are associated with lower prices at the median but higher prices for LP. Other variables have larger cost-reducing effects on LP than on median priced systems: systems installed in Arizona and Florida, as well as commercial and thin film systems. In contrast, the following have a smaller effect on prices for LP systems than median priced systems: tracking systems, self-installations, systems installed in Massachusetts, the system size, and installer experience. These results highlight the complex factors at play that lead to LP systems and shed light into how such LP systems can come about.

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

    Directory of Open Access Journals (Sweden)

    Ijeoma C. Nwoko

    2016-12-01

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

  10. Three studies of retail gasoline pricing dynamics

    Science.gov (United States)

    Atkinson, Benjamin James

    In many Canadian cities, retail gasoline prices appear to cycle, rising by large amounts in one or two days followed by several days of small consecutive price decreases. While many empirical studies examine such markets, certain questions cannot b e properly answered without high frequency, station-specific price data for an entire market. Thus, the first paper in this thesis uses bi-hourly price data collected for 27 stations in Guelph, Ontario, eight tunes per day for 103 days to examine several basic predictions of the Edgeworth cycle theory. The results are largely consistent with this theory. However, most independent firms do not tend to undercut their rivals' prices, contrary to previous findings. Furthermore, the tuning, sizes and leaders of price increases appear to be very predictable, and a specific pattern of price movements has been detected on days when prices increase. These findings suggest that leading a price increase might not be as risky as one may expect. The second paper uses these same data to examine the implications o f an informal theory of competitive gasoline pricing, as advanced by industry and government. Consistent with this theory, stations do tend to set prices to match (or set a small positive or negative differential with) a small number of other stations, which are not necessarily the closest stations. Also, while retailers frequently respond to price changes within two hours, many take considerably longer to respond than is predicted by the theory. Finally, while price decreases do ripple across the market like falling dominos, increases appear to propagate based more on geographic location and source of price control than proximity to the leaders. The third paper uses both these data and Guelph price data collected every 12 hours during the same 103 days from OntarioGasPrices.com to examine the sample selection biases that might exist in such Internet price data, as well as their implications for empirical research. It is

  11. PRICING STRATEGY IN THE INDONESIAN CONSTRUCTION INDUSTRY

    Directory of Open Access Journals (Sweden)

    Krishna Mochtar

    2002-01-01

    Full Text Available Issues related to pricing strategy in the Indonesian construction industry are covered%2C including problems of current pricing strategy in construction%2C exploration of pricing strategies with a market-based approach%2C and survey findings of the top Indonesian contractors regarding their current pricing practices and the applicability of market-based pricing strategy models developed by Mochtar and Arditi. Comparisons with similar survey findings of the top U.S. contractors are conducted whenever possible. In conclusion%2C the belief that current pricing strategy in construction is predominantly cost-based is confirmed by the survey findings%3B indeed%2C in setting the markup%2C most contractors rely on subjective assessment of the competition. Using simulated bidding scenarios%2C it is discovered that Indonesian contractors tend to be more market-based as they know more about the owner%5C%27s characteristics%2C competitors%5C%27 characteristics%2C and market demand. Consequently%2C the implementation of bidding procedure proposed by Mochtar and Arditi is supported. To maximize the benefits of market-based pricing strategies%2C the bidding procedure change should be explored by all parties involved in the Indonesian construction industry. Abstract in Bahasa Indonesia : Cost-based+pricing%2C+market-based+pricing%2C+pricing+variables%2C+bidding+procedure.

  12. Price Transmission Analysis in Iran Chicken Market

    Directory of Open Access Journals (Sweden)

    Seyed Safdar Hosseini

    2012-12-01

    Full Text Available Over the past three decades vertical price transmissionanalysis has been the subject of considerable attention inapplied agricultural economics. It has been argued that theexistence of asymmetric price transmission generates rents formarketing and processing agents. Retail prices allegedly movefaster upwards than downwards in response to farm level pricemovements. This is an important issue for many agriculturalmarkets, including the Iranian chicken market. Chicken is animportant source of nutrition in Iranian society and many ruralhouseholds depend on this commodity market as a source of income.The purpose of this paper is to analyze the extent, if any,of asymmetric price transmission in Iran chicken market usingthe Houck, Error Correction and Threshold models. The analysisis based on weekly chicken price data at farm and retail levelsover the period October 2002 to March 2006. The results oftests on all three models show that price transmission in Iranianchicken market is long-run symmetric, but short-run asymmetric.Increases in the farm price transmit immediately to the retaillevel, while decreases in farm price transmit relatively moreslowly to the retail level. We conjecture the asymmetric pricetransmission in this market is the result of high inflation ratesthat lead the consumers to expect continual price increases anda different adjustment costs in the upwards direction comparedto the downwards direction for the marketing agents and a noncompetitiveslaughtering industry and that looking for ways tomake this sector of the chicken supply chain more competitivewill foster greater price transmission symmetry and lead towelfare gains for both consumers and agricultural producers.

  13. Oil prices and long-run risk

    Science.gov (United States)

    Ready, Robert Clayton

    I show that relative levels of aggregate consumption and personal oil consumption provide an excellent proxy for oil prices, and that high oil prices predict low future aggregate consumption growth. Motivated by these facts, I add an oil consumption good to the long-run risk model of Bansal and Yaron [2004] to study the asset pricing implications of observed changes in the dynamic interaction of consumption and oil prices. Empirically I observe that, compared to the first half of my 1987--2010 sample, oil consumption growth in the last 10 years is unresponsive to levels of oil prices, creating an decrease in the mean-reversion of oil prices, and an increase in the persistence of oil price shocks. The model implies that the change in the dynamics of oil consumption generates increased systematic risk from oil price shocks due to their increased persistence. However, persistent oil prices also act as a counterweight for shocks to expected consumption growth, with high expected growth creating high expectations of future oil prices which in turn slow down growth. The combined effect is to reduce overall consumption risk and lower the equity premium. The model also predicts that these changes affect the riskiness of of oil futures contracts, and combine to create a hump shaped term structure of oil futures, consistent with recent data.

  14. Drug price regulation under consumer moral hazard. Two-part tariffs, uniform price or third-degree price discrimination?

    Science.gov (United States)

    Felder, Stefan

    2004-12-01

    Drug price differences across national markets as they exist in the EU are often justified by the concept of Ramsey prices: with fixed costs for R&D, the optimal mark-ups on marginal costs are inversely related to the price elasticity in the individual markets. This well-known result prevails if consumer moral hazard is taken into account. Contrary to the situation without moral hazard, the uniform price does not necessarily dominate discriminatory pricing in welfare terms. The two-part tariff is a better alternative as it allows governments to address moral hazard. A uniform price combined with lump-payments reflecting differences in the willingness to pay and the moral hazard in member states appears to be an attractive option for a common EU drug market.

  15. ECONOMICAL PLANS EFFECTS ON CHARCOAL PRICES

    Directory of Open Access Journals (Sweden)

    José Luiz Pereira Rezende

    2007-06-01

    Full Text Available Energy is essential for human needs satisfaction. With the evolution of machinery, man becomes more and more dependent on the energy stocked in fossil fuels, comparatively to the primitive economy. Wood charcoal is a thermal-reducer used in Brazilian pig iron and steel industries, and its price is formed in an oligopsonic market. Over time, the charcoal prices have varied in function of endogenous and exogenous factors, needing, therefore, to be deflated so that they can be compared in two or more points in time. This work analyzed the variations of charcoal real prices, in national currency; compared and analyzed the real charcoal price in nominal and in real US Dollar and; analyzed the real prices of charcoal, comparatively to the real oil prices. The analyses were accomplished in the period from January 1975 to December 2002. The time series of charcoal prices, in domestic currency were deflated using IGP-DI, considering august, 1994=100, and charcoal prices were also converted to American dollar and deflated using CPI, considering the period 1982-84=100. It was compared, then, the real and nominal charcoal prices. It concluded that the real charcoal prices in Brazilian domestic currency, or in American dollar, presented a decreasing tendency along time. The inflationary disarray, in the 80´s and the first half of the 90 ´s, provoked a big price variation in the period; from the beginning the XXI century, charcoal prices were more influenced by the exchange rate; in the energy crisis period, charcoal prices suffered big changes that, however, did not persist along time.

  16. A Study on Renewable Power Pricing Mechanism and Price Incentive Policies in China

    Institute of Scientific and Technical Information of China (English)

    2008-01-01

    The basic framework of price policies for promoting renewable power development in China is introduced.The background,concept and implementation of price policies,focused on wind power,biomass power and solar power,are summarized in the article.The experiences and lessons of implementation of these price policies are analyzed.It is concluded that reasonable price policy is quite effective for promoting renewable power development.According to the requirement of China's renewable power development,the suggestions for improving renewable power pricing mechanism and price incentive policies are proposed.

  17. The normal price. The case of the retail price of diesel fuel

    OpenAIRE

    Kossov, Vladimir; Kossova, Elena

    2013-01-01

    For the large majority of goods, the price dispersion between countries does not exceed 1:10. Diesel fuel stands out, with a dispersion which exceeds 1:100. Given a constant oil price the difference in diesel fuel prices between countries is caused by the different taxes. The average share of taxes in the price determines the normal price. An estimation of the normal price of diesel fuel is made using an econometric model (using 79 countries, 1998-2008 by even years). Of greatest interest to ...

  18. Nonlinear Pricing in Energy and Environmental Markets

    Science.gov (United States)

    Ito, Koichiro

    This dissertation consists of three empirical studies on nonlinear pricing in energy and environmental markets. The first investigates how consumers respond to multi-tier nonlinear price schedules for residential electricity. Chapter 2 asks a similar research question for residential water pricing. Finally, I examine the effect of nonlinear financial rewards for energy conservation by applying a regression discontinuity design to a large-scale electricity rebate program that was implemented in California. Economic theory generally assumes that consumers respond to marginal prices when making economic decisions, but this assumption may not hold for complex price schedules. The chapter "Do Consumers Respond to Marginal or Average Price? Evidence from Nonlinear Electricity Pricing" provides empirical evidence that consumers respond to average price rather than marginal price when faced with nonlinear electricity price schedules. Nonlinear price schedules, such as progressive income tax rates and multi-tier electricity prices, complicate economic decisions by creating multiple marginal prices for the same good. Evidence from laboratory experiments suggests that consumers facing such price schedules may respond to average price as a heuristic. I empirically test this prediction using field data by exploiting price variation across a spatial discontinuity in electric utility service areas. The territory border of two electric utilities lies within several city boundaries in southern California. As a result, nearly identical households experience substantially different nonlinear electricity price schedules. Using monthly household-level panel data from 1999 to 2008, I find strong evidence that consumers respond to average price rather than marginal or expected marginal price. I show that even though this sub-optimizing behavior has a minimal impact on individual welfare, it can critically alter the policy implications of nonlinear pricing. The second chapter " How Do

  19. More than Rising Grain Prices

    Institute of Scientific and Technical Information of China (English)

    Hu Junhua

    2010-01-01

    @@ According to the bulletin of the National Bureau of Statistics,the summer harvest nationwide this year was 246.2billion jin,a decline of 0.3% compared to last year.The cold spell in late spring and high temperatures afterwards are considered as the main causes for this round of rising grain prices.However,"natural disasters"are dwarfed by another worrisome picture: young and strong farming hands flooding out of the rural areas and the elderly,the weak,females and children are made the mainstay of the tilling army.

  20. Labor Unions and Asset Prices

    DEFF Research Database (Denmark)

    Busato, Francesco; Addessi, William

    The paper investigates the nexus between labor and financial markets, focusing on the interaction between labor union behavior in setting wages, firms' investment strategy and asset prices. The way unions set wage claims after observing firm's financial performance increases the volatility of firms......' returns and the riskiness of corporate ownership. To remunerate this higher volatility and stronger risk, firms' equities have to grant high return. This mechanism is able to offer an explanation of for the "equity puzzle", that is it can explain the difference between equity returns and the risk free...

  1. PRICING OF MULTIPLE DEFAULTABLE BOND

    Institute of Scientific and Technical Information of China (English)

    JianZhihong; LiChulin

    2002-01-01

    In this paper a generalized defaultable bond pricing formula is derived by assuming that there exists a defaultable forward rate term structure and that firms in the economy interact when default occurs. Generally,The risk-neutral default intensity χQ is not equal to the empirical or actual default intensity λ,. This paper proves that multiple default intensities are invari-ant under equivalent martingale transformation,given a well-diversified portfolio corresponding to the defaultable bond. Thus one can directly apply default intensities and fractional losses empirically estimated to the evaluation of defaultable bonds or contingent claims.

  2. Saving-Based Asset Pricing

    DEFF Research Database (Denmark)

    Dreyer, Johannes Kabderian; Schneider, Johannes; T. Smith, William

    2013-01-01

    This paper explores the implications of a novel class of preferences for the behavior of asset prices. Following a suggestion by Marshall (1920), we entertain the possibility that people derive utility not only from consumption, but also from the very act of saving. These ‘‘saving......-based’’ preferences are related to models of habit formation and the spirit of capitalism, but incorporate the feature that people have anticipatory habits because they care about the future accumulation of wealth. We derive the Euler equations for these preferences and estimate them with GMM. Our estimates suggest...

  3. Production Increased with Price Rise

    Institute of Scientific and Technical Information of China (English)

    Feng Shiliang

    2007-01-01

    @@ In the first two months of 2007, China'spetroleum and chemical industry re-mained up trend in production. Amongthe 65 types of petrochemical productsthat have been tracked by CPCIA(China Petroleum and Chemical Indus-try Association), the output of 54 typesincreased compared with the same pe-riod of 2006, and the output of 25types, in particular, grew by over 20%.In the first two months of 2007, over60% of 151 types of chemicals beingtracked had a higher price than thesame period of 2006.

  4. Financial instrument pricing using C++

    CERN Document Server

    Duffy, Daniel J

    2004-01-01

    One of the best languages for the development of financial engineering and instrument pricing applications is C++. This book has several features that allow developers to write robust, flexible and extensible software systems. The book is an ANSI/ISO standard, fully object-oriented and interfaces with many third-party applications. It has support for templates and generic programming, massive reusability using templates (?write once?) and support for legacy C applications. In this book, author Daniel J. Duffy brings C++ to the next level by applying it to the design and implementation of class

  5. Value and Pricing of MOOCs

    Directory of Open Access Journals (Sweden)

    Rose M. Baker

    2016-05-01

    Full Text Available Reviewed in this article is the potential for Massive Open Online Courses (MOOCs to transform higher education delivery, accessibility, and costs. Next, five major value propositions for MOOCs are considered (headhunting, certification, face-to-face learning, personalized learning, integration with services external to the MOOC, marketing. Then, four pricing strategies for MOOCs are examined (cross-subsidy, third-party, “freemium”, nonmonetary. Although the MOOC movement has experienced growing pains similar to most innovations, we assert that the unyielding pace of improvements in network technologies combined with the need to tame the costs of higher education will create continuing demand for MOOC offerings.

  6. RICE PRICE VOLATILITY IN EAST JAVA

    Directory of Open Access Journals (Sweden)

    Wati R.Y.E.

    2017-09-01

    Full Text Available The purpose of the research is analyzing the volatility and volatility spillover of monthly price of paddy at the level of farmers and consumers in 2010-2016. ARCH/GARCH used to analyze volatility and GARCH BEKK-model is used to analyze the volatility spillover. The results of the analysis show that price volatility at the farmer level is very high (extremely high volatility, price volatility at the consumer level is low (low volatility, and volatility spillover does not occur between the farmers and the consumers market. The need to guarantee an effective floor price as well as information disclosure related to the market commodity prices so that the pattern of prices transmission among interrelated markets can be symmetrical.

  7. International Transfer Pricing in Multinational Enterprises

    DEFF Research Database (Denmark)

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

    2017-01-01

    Current curricula in management accounting stress the role of transfer pricing as a tool for measuring the performance of responsibility centers and their managers. Recently, however, multinational enterprises (MNEs) have felt increasing pressure to comply with transfer pricing tax regulation....... 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...... of responsibility accounting. Specifically, the case study is a fictional MNE, allowing you to apply the OECD Guidelines in practice to cross-border transfers within an MNE, and to discuss the implications of tax-based transfer pricing for responsibility accounting. As a basis for working on the case study...

  8. PRICE ON THE ORGANIC FOOD MARKET

    Directory of Open Access Journals (Sweden)

    GEORGE ATANASOAIE

    2012-12-01

    Full Text Available The main objective of this paper is to present prices on PAE market (PAE- organic foods market. Prices are analyzed in terms of importance and the main factors that contribute to their establishment (quality of products, distribution channels, certification and eco-labeling system, customer segments and market development stage. This paper is based on the investigation of secondary sources, of specialized literature related to PAE consumers. The paper shows that are used three strategic options of prices: prices with high rigidity located in a low or high level and fluctuating prices, characterized by variations on short periods of time. Price is a very important barrier to market development but this importance can be mitigated through appropriate communication policies with the market, which are essential especially for markets in early stages of development.

  9. THE PRICE ON THE ORGANIC PRODUCT MARKET

    Directory of Open Access Journals (Sweden)

    ATĂNĂSOAIE GEORGE SEBASTIAN

    2013-08-01

    Full Text Available The main objective of this paper is to present prices on PAE market (PAE- organic foods market. Prices areanalyzed in terms of importance and the main factors that contribute to their establishment (quality of products,distribution channels, certification and eco-labeling system, customer segments and market development stage.The paper shows that are used three strategic options of prices: prices with high rigidity located in a low or highlevel and fluctuating prices, characterized by variations on short periods of time. Price is a very importantbarrier to market development but this importance can be mitigated through appropriate communicationpolicies with the market, which are essential especially for markets in early stages of development

  10. 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-kno......-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.......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...

  11. Improving and optimising road pricing in Copenhagen

    DEFF Research Database (Denmark)

    Nielsen, Otto Anker; Larsen, Marie Karen

    2008-01-01

    though quite a number of proposed charging systems have been examined only a few pricing strategies have been investigated. This paper deals with the optimisation of different designs for a road pricing system in the Greater Copenhagen area with respect to temporal and spatial differentiation......The question whether to introduce toll rings or road pricing in Copenhagen has been discussed intensively during the last 10 years. The main results of previous analyses are that none of the systems would make a positive contribution at present, when considered from a socio-economic view. Even...... of the pricing levels. A detailed transport model was used to describe the demand effects. The model was based on data from a real test of road pricing on 500 car drivers. The paper compares the price systems with regard to traffic effects and generalised costs for users and society. It is shown how important...

  12. Appliance Efficiency Standards and Price Discrimination

    Energy Technology Data Exchange (ETDEWEB)

    Spurlock, Cecily Anna [Univ. of California, Berkeley, CA (United States)

    2013-05-08

    I explore the effects of two simultaneous changes in minimum energy efficiency and ENERGY STAR standards for clothes washers. Adapting the Mussa and Rosen (1978) and Ronnen (1991) second-degree price discrimination model, I demonstrate that clothes washer prices and menus adjusted to the new standards in patterns consistent with a market in which firms had been price discriminating. In particular, I show evidence of discontinuous price drops at the time the standards were imposed, driven largely by mid-low efficiency segments of the market. The price discrimination model predicts this result. On the other hand, in a perfectly competition market, prices should increase for these market segments. Additionally, new models proliferated in the highest efficiency market segment following the standard changes. Finally, I show that firms appeared to use different adaptation strategies at the two instances of the standards changing.

  13. Pay-what-you-want pricing schemes

    DEFF Research Database (Denmark)

    Kahsay, Goytom Abraha; Samahita, Margaret

    Pay-What-You-Want (PWYW) pricing schemes are becoming increasingly popular in a wide range of industries. We develop a model incorporating self-image into the buyer's utility function and introduce heterogeneity in consumption utility and image-sensitivity, which generates different purchase...... decisions and optimal prices across individuals. When a good is sold at a fixed price higher than a threshold value, a price that the individual thinks is fair, the adoption of PWYW increases his utility and hence results in a weakly higher purchase rate. When a good is sold at a fixed price lower than...... this threshold, however, PWYW can lead to a lower utility. This may result in a lower purchase rate and higher average price, in line with previously unexplained evidence from field experiments. Moreover, an increase in the threshold value decreases the buyer's utility and may further lower the purchase rate...

  14. State energy price and expenditure report 1994

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-06-01

    The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates individually for the 50 States and the District of Columbia and in aggregate for the United States. The price and expenditure estimates developed in the State Energy Price and Expenditure Data System (SEPEDS) are provided by energy source and economic sector and are published for the years 1970 through 1994. Consumption estimates used to calculate expenditures and the documentation for those estimates are taken from the State Energy Data Report 1994, Consumption Estimates (SEDR), published in October 1996. Expenditures are calculated by multiplying the price estimates by the consumption estimates, which are adjusted to remove process fuel; intermediate petroleum products; and other consumption that has no direct fuel costs, i.e., hydroelectric, geothermal, wind, solar, and photovoltaic energy sources. Documentation is included describing the development of price estimates, data sources, and calculation methods. 316 tabs.

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

    Directory of Open Access Journals (Sweden)

    Ijeoma C. Nwoko

    2016-12-01

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

  16. Strategic pricing in the engineering industry

    OpenAIRE

    Savukoski, Jesse

    2015-01-01

    In today’s challenging market environment, pricing is one of the most crucial elements in a company’s marketing plan. By identifying the best pricing practices in various situations, a firm can succeed and evolve in accordance with its long-term strategy. In this respect, this thesis is a case study with the aim of providing a comprehensive framework for the target company under which it can operate. More specifically, the framework handles strategic aspects of product pricing and busine...

  17. Pricing Mechanism in Power Market Construction

    Institute of Scientific and Technical Information of China (English)

    2005-01-01

    The reform on electricity pricing mechanism is a critical problem in power market construction in China, and is in mutual supplementation and promotion with the latter. In particular, the pricing mechanism for electricity fed into network and that for electricity transmission and distribution as well as the relationship between coal and electricity prices, etc. Have to be studied in depth. This paper presents several solutions and suggestions to these problems.

  18. Location-Price Competition in Airline Networks

    Directory of Open Access Journals (Sweden)

    H. Gao

    2014-01-01

    Full Text Available This paper addresses location-then-price competition in airline market as a two-stage game of n players on the graph. Passenger’s demand distribution is described by multinomial logit model. Equilibrium in price game is computed through best response dynamics. We solve location game using backward induction, knowing that airlines will choose prices from equilibrium for the second-stage game. Some numerical results for airline market under consideration are presented.

  19. Wine Price Markup in California Restaurants

    OpenAIRE

    Amspacher, William

    2011-01-01

    The study quantifies the relationship between retail wine price and restaurant mark-up. Ordinary Least Squares regressions were run to estimate how restaurant mark-up responded to retail price. Separate regressions were run for white wine, red wine, and both red and white combined. Both slope and intercept coefficients for each of these regressions were highly significant and indicated the expected inverse relationship between retail price and mark-up.

  20. State energy price and expenditure report 1993

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1995-12-01

    The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates individually for the 50 states and the District of Columbia and in aggregate for the US. The five economic sectors used in SEPER correspond to those used in SEDR and are residential, commercial, industrial, transportation, and electric utility. Documentation in appendices describe how the price estimates are developed, provide conversion factors for measures used in the energy analysis, and include a glossary. 65 tabs.

  1. Cost of delay and endogenous price leadership

    OpenAIRE

    Pastine, Tuvana

    2004-01-01

    We study the effects of discounting in a standard endogenous price leadership model. We show that there will be occasional changes in the identity of the leader with any cost of delay or discounting, however small. By analyzing the incentives that induce a firm to take up the leader position, we derive positive predictions about which firm will lead most price changes. Firms with shorter reaction times will be more likely to become the price leader, as will firms with lower cost o...

  2. Price pass-through and minimum wages

    OpenAIRE

    Daniel Aaronson

    1997-01-01

    A textbook consequence of competitive markets is that an industry-wide increase in the price of inputs will be passed on to consumers through an increase in prices. This fundamental implication has been explored by researchers interested in who bears the burden of taxation and exchange rate fluctuations. However, little attention has focused on the price implications of minimum wage hikes. From a policy perspective, this is an oversight. Welfare analysis of minimum wage laws should not ignore...

  3. Statistical Theory of Hedonic Price Indices

    OpenAIRE

    Brachinger, Hans Wolfgang

    2002-01-01

    In the economic literature, essentially, hedonic techniques either are applied straightforwardly or the economic foundations of the hedonic hypothesis are discussed. In this paper, the statistical foundations of hedonic price indices are developed. After a short overview on well-known functional forms of hedonic equations, first, precise hedonic notions of a good and its price are specified. These specifications allow a clear-cut definition of true hedonic price indices. Then, the problem of ...

  4. Interpreting Prediction Market Prices as Probabilities

    OpenAIRE

    Wolfers, Justin; Zitzewitz, Eric

    2006-01-01

    While most empirical analysis of prediction markets treats prices of binary options as predictions of the probability of future events, Manski (2004) has recently argued that there is little existing theory supporting this practice. We provide relevant analytic foundations, describing sufficient conditions under which prediction markets prices correspond with mean beliefs. Beyond these specific sufficient conditions, we show that for a broad class of models prediction market prices are usuall...

  5. Pricing products: juxtaposing affordability with quality appeal.

    Science.gov (United States)

    1984-01-01

    Choosing appropriate product prices is 1 of the most crucial steps in creating an effective contraceptive social marketing (CSM) sales campaign. The Social Marketing Forum conducted an informal survey of social marketing project managers, international contractors, and marketing consultants to determine how CSM programs cope with pricing problems and ways to circumvent some obstacles. According to Diana Altman, a family planning consultant, low prices that make products available to needy individuals are more important than the program's self sufficiency, yet if prices are too low, consumers think the products were unusable in the US and thus were dumped on local markets. Other key factors include commercial competition, spiraling inflation rates, and problems with rising prices and retailer/distributor margins. A sampling of per capita gross national products indicates the poverty level of most CSM projects' target market. Consequently, CSM projects must set low pices, regardless of program operating costs. The goal often is to increase the demand and availability for contraceptives. The fact that social marketing products must pass through retail networks to reach consumers complicates the pricing equation. To deal with the problem, India's Nirodh program gives a 25% margin to distributors/wholesalers, compared to 6% offered on most other goods. Retailers also receive a 25% margin, more than double the commercial rate. Once prices are set, increases pose hazards. Local government approval often is a prerequisite and can require lengthy negotiations. Market studies remain a valuable approach to effective pricing, according to PNA's Mallamad and other research consultants. They cite such effective research strategies as test marketing products and asking consumers how prices affect buying habits. Further, CSM projects can jump over some pricing hurdles through creative marketing. An effective pricing strategy alone cannot produce a successful CSM program. Pricing

  6. Import Price-Elastcities: Reconsidering the Evidence

    OpenAIRE

    Helene Erkel-Rousse; Daniel Mirza

    2000-01-01

    Recent geography and trade empirical studies based on monopolistic competition [Hummels, 1998; Hanson, 1999; Head and Ries, 1999] suggest high levels of trade price-elasticities (between 3 and 11). However, direct estimations of price-elasticities in trade equations, using price indexes at the aggregate or industry levels, lead to much lower values than those predicted by the prior studies and the theory (usually around unity). In this article, we show that these inconclusive results may be d...

  7. Universality of Tail Exponents of Price Changes?

    Science.gov (United States)

    Huang, Luwen; Farmer, Doyne

    2007-03-01

    We study the tail exponents of the distribution of logarithmic price changes in financial markets, and investigate the conjecture that they are universal with an exponent near three. Using data from the London Stock Exchange, we construct the empirical distributions of price returns on several different time scales and study their variation as a function of parameters such as trading volume and tick size (the minimal unit of price variation).

  8. Promotion Signal: Proxy for a Price Cut?

    OpenAIRE

    Inman, J Jeffrey; McAlister, Leigh; Hoyer, Wayne D.

    1990-01-01

    Evidence suggests that some consumers react to promotion signals without considering relative price information. We adopt Petty and Cacioppo's Elaboration Likelihood Model (ELM) to explain this behavior in terms of the ELM's peripheral route to pursuasion in which the promotion signal is taken as a cue for a price cut. Experimental results show that low need for cognition individuals react to the simple presence of a promotion signal whether or not the price of the promoted brand is reduced, ...

  9. 2004■2005 Prices Comparison of Neodymia

    Institute of Scientific and Technical Information of China (English)

    2005-01-01

    Global NdFeB magnetic materials industry grows at over20% every year, strongly stimulating the production ofneodymia and Nd metal. In 2005, NdFeB in global market is3,000 - 4,000 tons short of supply. Prices comparison ofneodymia at the same period of this year and last year isshown in Table 1.Table 1 2004 2005 Prices Comparison of Neodymia2004■2005 Prices Comparison of Neodymia

  10. Exporter Price Response to Exchange Rate Changes

    DEFF Research Database (Denmark)

    Fosse, Henrik Barslund

    Firms exporting to foreign markets face a particular challenge: to price their exports in a foreign market when the exchange rate changes. This paper takes on pricing- to-market using a unique data set that covers rm level monthly trade at great detail. As opposed to annual trade ows, monthly trade...... theoretical contributions to the litterature on pricing-to-market and exchange rate pass-through....

  11. Distributions of Nodal Prices in PJM Market

    Science.gov (United States)

    Kunio, Matsumoto; Yoshio, Ichida; Michiko, Makino; Hiroaki, Tanaka

    As the deregulation of electric business proceeds, it is important to analyze the distributions of prices in the power market. In this paper, we analyze the nodal prices of the PJM market, which is representative of power markets in the US. First, we verify Weibull’s property of the distribution of nodal prices. Then we verify Poisson’s property of the interval of loss process.

  12. Import Price-Elastcities: Reconsidering the Evidence

    OpenAIRE

    Helene Erkel-Rousse; Daniel Mirza

    2000-01-01

    Recent geography and trade empirical studies based on monopolistic competition [Hummels, 1998; Hanson, 1999; Head and Ries, 1999] suggest high levels of trade price-elasticities (between 3 and 11). However, direct estimations of price-elasticities in trade equations, using price indexes at the aggregate or industry levels, lead to much lower values than those predicted by the prior studies and the theory (usually around unity). In this article, we show that these inconclusive results may be d...

  13. On Stabilizing or Deregulating Food Prices

    OpenAIRE

    Flåm, Sjur Didrik; Gaasland, Ivar; Vårdal, Erling

    2006-01-01

    This paper studies measurement of welfare e¤ects, transient and permanent, of stabilizing or deregulating prices in Cobweb-like settings. As in Cobweb-models, producers must commit inputs in face of uncertainty. Here, however, we consider producers who are concerned with adaptations of inputs rather than price predictions. This shift of emphasis reflects two things. First, since persistent randomness causes on-going price fluctuations, point predictions are of modest concern. Second, producer...

  14. State energy price and expenditure report 1992

    Energy Technology Data Exchange (ETDEWEB)

    1994-12-01

    The State Energy Price and Expenditure Report (SEPER) presents energy price and expenditure estimates individually for the 50 States and the District of Columbia and in aggregate for the United States. The price and expenditure estimates are provided by energy source and economic sector and are published for the years 1970, 1980, and 1985 through 1992. Data for all years, 1970 through 1992, are available on personal computer diskettes.

  15. Algorithmic Pricing via Virtual Valuations

    CERN Document Server

    Chawla, Shuchi; Kleinberg, Robert

    2008-01-01

    Algorithmic pricing is the computational problem that sellers (e.g., in supermarkets) face when trying to set prices for their items to maximize their profit in the presence of a known demand. Guruswami et al. (2005) propose this problem and give logarithmic approximations (in the number of consumers) when each consumer's values for bundles are known precisely. Subsequently several versions of the problem have been shown to have poly-logarithmic inapproximability. This problem has direct ties to the important open question of better understanding the Bayesian optimal mechanism in multi-parameter settings; however, logarithmic approximations are inadequate for this purpose. It is therefore of vital interest to consider special cases where constant approximations are possible. We consider the unit-demand variant of this problem. Here a consumer has a valuation for each different item and their value for a set of items is simply the maximum value they have for any item in the set. We assume that the preferences ...

  16. The price-perceived quality relationship

    DEFF Research Database (Denmark)

    Völckner, Franziska; Hofmann, Julian

    2009-01-01

    The authors conducted a meta-analysis of study results on the price-perceived quality relationship published from 1989 to 2006. The findings show that the price effect on perceived quality has decreased. Furthermore, the price–quality relationship is stronger in studies that use a within......-subjects design, investigate higher priced products, and use samples from European countries but weaker for services, durable goods, and respondents who are familiar with the product. A striking null result indicates that the number of cues does not affect the price-perceived quality relationship significantly....

  17. Decentralized Pricing in Minimum Cost Spanning Trees

    DEFF Research Database (Denmark)

    Hougaard, Jens Leth; Moulin, Hervé; Østerdal, Lars Peter

    In the minimum cost spanning tree model we consider decentralized pricing rules, i.e. rules that cover at least the ecient cost while the price charged to each user only depends upon his own connection costs. We de ne a canonical pricing rule and provide two axiomatic characterizations. First......, the canonical pricing rule is the smallest among those that improve upon the Stand Alone bound, and are either superadditive or piece-wise linear in connection costs. Our second, direct characterization relies on two simple properties highlighting the special role of the source cost....

  18. Cotton price change and welfare in Togo

    Directory of Open Access Journals (Sweden)

    Anani Nourredine Mensah

    2015-06-01

    Full Text Available This paper uses the evaluation of net benefit ratios applied to survey data on households to appreciate the effects of international price of cotton on the welfare of producers in Togo. It needs first to trace the difference between international prices and those paid to domestic producers. Furthermore, given that households are producers of these goods, we use a revenue function that depends on the remuneration of labor, other earnings and profit that in turn depends on the price paid to producers and land ownership. For estimates, the effect of welfare, which is captured by the compensating variation, is the result of the share of the average cotton income in average total income multiplied by the change in the price of cotton. Our results with QUIBB 2006 and 2011 survey data reveal that the impact of a price change on the compensating variation gives a welfare change relatively higher for poor households. However, this effect remains low, considering whether a change in producer prices or in international price. A simulation of a potential effect of the change in the producer price of 50% of the differential of the two prices, and the positive impact on social welfare that results appears stronger. This positive change in welfare is reversely associated to the wealth of households.

  19. How Likely Is Factor Price Equalization?

    DEFF Research Database (Denmark)

    Hansen, Bodil O.; Keiding, Hans

    The idea of treating factor price equalization as a situation, where the distribution of factors among countries is compatible with an equilibrium in an integrated world economy, has been refined to give the so-called lens condition for factor price equalization. In this paper, we show...... that the lens condition may be used to give estimates for the probability of factor price equalization when factors are distributed randomly among countries and, in addition, the techologies are sampled according to a given probability distribution. The estimates indicate that factor price equalization may...

  20. The International oil price and hydrogen competitiveness

    OpenAIRE

    Hansen, Anders Chr.

    2007-01-01

    Natural gas based hydrogen is expected to provide most of the hydrogen supply in the period prior to and during at least the first years of market introduction of automotive hydrogen and fuel cell technology in large scale. Due to the natural gas price dependency of the international oil price the hydrogen cost level that is required for competitiveness of hydrogen and fuel cell technology depends on the oil price. This gives rise to the question: At which oil price will natural gas based ...

  1. Economics effects of lower oil prices

    Energy Technology Data Exchange (ETDEWEB)

    Powell, S.; Horton, G.; Vernon, K.

    1985-01-01

    The economic effects, both for the world, and for the UK, of lower oil prices are examined, and the impact of a sustained fall in oil prices is considered. The results of some simulations on both the Treasury's World Economic Prospects model and its model of the UK economy are used to give an estimate of the possible effects on the world and UK economies of a sustained fall of 10 per cent in the world oil price. A number of studies of the relationship between oil price changes and exchange rate changes are summarised. (author).

  2. Real-time Pricing in Power Markets

    DEFF Research Database (Denmark)

    Boom, Anette; Schwenen, Sebastian

    We examine welfare eects of real-time pricing in electricity markets. Before stochastic energy demand is known, competitive retailers contract with nal consumers who exogenously do not have real-time meters. After demand is realized, two electricity generators compete in a uniform price auction...... to satisfy demand from retailers acting on behalf of subscribed customers and from consumers with real-time meters. Increasing the number of consumers on real-time pricing does not always increase welfare since risk-averse consumers dislike uncertain and high prices arising through market power...

  3. 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....

  4. Real-time Pricing in Power Markets

    DEFF Research Database (Denmark)

    Boom, Anette; Schwenen, Sebastian

    We examine welfare e ects of real-time pricing in electricity markets. Before stochastic energy demand is known, competitive retailers contract with nal consumers who exogenously do not have real-time meters. After demand is realized, two electricity generators compete in a uniform price auction...... to satisfy demand from retailers acting on behalf of subscribed customers and from consumers with real-time meters. Increasing the number of consumers on real-time pricing does not always increase welfare since risk-averse consumers dislike uncertain and high prices arising through market power...

  5. Pay-what-you-want pricing schemes

    DEFF Research Database (Denmark)

    Kahsay, Goytom Abraha; Samahita, Margaret

    2015-01-01

    Pay-What-You-Want (PWYW) pricing schemes are becoming increasingly popular. We develop a model incorporating self-image into the buyer’s utility function and introduce heterogeneity in consumption utility and image-sensitivity, generating different purchase decisions and optimal prices across...... individuals. When a good’s fixed price is lower than a threshold fair value, PWYW can lead to a lower utility. This may result in a lower purchase rate and higher average price, accounting for previously unexplained field experimental evidence. An increase in the threshold value decreases the buyer’s utility...

  6. Oil-import contracts, prices discussed

    Energy Technology Data Exchange (ETDEWEB)

    Nedeljkovic, D.

    1986-01-01

    The author accuses Yugoslavia of a sluggish response to changing world oil markets that will repeat the situation of 1973, when Yugoslavia's failure to raise oil prices led to increased consumption. Reviewing the composition of imports and their sources, the author suggests that Yugoslavia cannot be buying on the spot market at such low prices. Instead, intergovernmental agreements set prices which are independent of the market, and these contracts remain in effect until new ones are concluded. The high value of the dollar relative to the dinar and the high cost of refining are other components of the current price problem.

  7. The price-perceived quality relationship

    DEFF Research Database (Denmark)

    Völckner, Franziska; Hofmann, Julian

    2009-01-01

    The authors conducted a meta-analysis of study results on the price-perceived quality relationship published from 1989 to 2006. The findings show that the price effect on perceived quality has decreased. Furthermore, the price–quality relationship is stronger in studies that use a within......-subjects design, investigate higher priced products, and use samples from European countries but weaker for services, durable goods, and respondents who are familiar with the product. A striking null result indicates that the number of cues does not affect the price-perceived quality relationship significantly....

  8. Exchange Rate Policy and Endogenous Price Flexibility

    OpenAIRE

    Devereux, Michael B.

    2004-01-01

    A fixed exchange rate limits the ability of the real exchange rate to adjust to shocks, and tends to raise the volatility of real GDP. But adjustment may be enhanced if internal prices are more flexible under a fixed exchange rate. This Paper develops a model in which price setters incur a cost to retain the option of ex-post price flexibility. The benefit of flexibility is increasing in the variance of demand facing price-setters. We ask whether fixing the exchange rate is likely to increase...

  9. Frequent price changes under menu costs

    DEFF Research Database (Denmark)

    Hansen, Per Svejstrup

    1999-01-01

    This paper investigates the effect of uncertainty on a single firm's pricing behaviour in a dynamic menu cost model that results in (S,s)-rules where the price is fixed inside a band. It will be demonstrated that even though the band of inaction widens in response to increased uncertainty......, the price may be changed more frequent in the short run, and in the long run it definitely will. Hence, observing frequent price changes is not necessarily inconsistent with a firm operating under menu costs. This paper relies on an article by Dixit (1991), (Review of Economic studies, 58, 141...

  10. (Q,S,s) Pricing Rules

    OpenAIRE

    Kenneth Burdett; Guido Menzio

    2013-01-01

    We study the effect of menu costs on the pricing behavior of sellers and on the cross-sectional distribution of prices in the search-theoretic model of imperfect competition of Burdett and Judd (1983). We find that, when menu costs are small, the equilibrium is such that sellers follow a (Q, S, s) pricing rule. According to a (Q, S, s) rule, a seller lets inflation erode the real value of its nominal price until it reaches some point s. Then, the seller pays the menu cost and changes its nomi...

  11. The Influence of Price Difference and Equity Sensitivity on Customer Satisfaction in a Dynamic Pricing Environment

    National Research Council Canada - National Science Library

    Susan K Harmon; David A Foote

    2003-01-01

    This study investigates consumer reactions to a dynamic pricing situation. The results show that satisfaction with a transaction is impacted by knowledge of the price others paid for the same product...

  12. The Effect of Monetary Policy on Commodity Prices: Disentangling the Evidence for Individual Prices

    Directory of Open Access Journals (Sweden)

    Carolina Arteaga Cabrales

    2014-01-01

    Full Text Available We study the effect of monetary policy shocks on commodity prices. While most of the literature has found that expansionary shocks have a positive effect on aggregate price indices, we study the effect on individual prices of a sample of four commodities. This set of commodity prices is essential to understand the dynamics of the balance of payments in Colombia. The analysis is based on structural VAR models; we identify monetary policy shocks following Kim (1999, 2003 upon quarterly data for commodity prices and their fundamentals for the period from 1980q1 to 2010q3. Our results show that commodity prices overshoot their long run equilibrium in response to a contractionary shock in the US monetary policy and, in contrast with literature, the response of the individual prices considered is stronger than what has been found in aggregate indices. Additionally, it is found that the monetary policy explains a substantial share of the fluctuations in prices.

  13. Improving the asset pricing ability of the Consumption-Capital Asset Pricing Model?

    DEFF Research Database (Denmark)

    Rasmussen, Anne-Sofie Reng

    This paper compares the asset pricing ability of the traditional consumption-based capital asset pricing model to models from two strands of literature attempting to improve on the poor empirical results of the C-CAPM. One strand is based on the intertemporal asset pricing model of Campbell (1993...... able to price assets conditionally as suggested by Cochrane (1996) and Lettau and Ludvigson (2001b). The unconditional C-CAPM is rewritten as a scaled factor model using the approximate log consumptionwealth ratio cay, developed by Lettau and Ludvigson (2001a), as scaling variable. The models...... are estimated on US data and the resulting pricing errors are compared using average pricing errors and a number of composite pricing error measures. The conditional C-CAPM and the two beta I-CAPM of Campbell and Vuolteenaho (2004) result in pricing errors of approximately the same size, both average...

  14. Do spot prices move towards futures prices? A study on crude oil market

    Directory of Open Access Journals (Sweden)

    Mihaela Nicolau

    2012-10-01

    Full Text Available The importance of studying the futures markets and the relationship between spot and futures prices is given by the possibility that futures contracts offer in order to reduce particular risks. The financial theory presents the relationships between spot and futures prices in the framework of both the non-arbitrage theory and the asset pricing theory, but none of them offer information about the direction of causality between spot and futures prices. This paper attempts to analyse the dynamic relationship between spot and futures prices of the crude oil, a very important commodity. The empirical analysis is focused to examine the causal dynamics between spot and futures prices in crude oil market; the results confirm that the prices of one and two maturity futures predict spot prices. Conversely, this is not true for longer maturity futures contracts.

  15. Oil Prices, Exchange Rate and Prices for Agricultural Commodities: Empirical Evidence from Russia

    Directory of Open Access Journals (Sweden)

    D. Burakov

    2016-06-01

    Full Text Available In this paper, we investigate long and short-term impact of changes in oil prices and the exchange rate on prices of seven groups of agricultural products in Russia (buckwheat, grain crops, potatoes, oat, wheat, rye, barley. In this paper, Granger causality approach is applied to test long-run interlinkages with monthly data from January 1999 to October 2015. For testing the response of agricultural prices to sudden shocks in oil prices and exchange rate in the short run, we use impulse-response techniques. The results of impulse response analysis show that agricultural prices are not particularly sensitive to changes in oil prices and the exchange rate of Russian ruble in the short term, except for imported commodities. In the long run, Granger causal relationship between agricultural prices and oil prices is missing, and with exchange rate is observed only in case of imported agricultural goods.

  16. Has the export pricing behaviour of German enterprises changed? Empirical evidence from German sectoral prices

    OpenAIRE

    Stahn, Kerstin

    2006-01-01

    The question as to whether the globalisation-related increase in competitive pressure may have caused the importance of exchange rate pass-through and pricing-to-market for export pricing in Germany to shift since the 1990s is addressed by testing the long-run export pricing behaviour of German enterprises for changes in the impact of its determinants. As globalisation may have affected competitive pressure in individual product markets differently, export pricing is analysed for 11 product c...

  17. Price setting in the euro area: some stylised facts from individual producer price data

    OpenAIRE

    Vermeulen, Philip; Dias, Daniel; Dossche, Maarten; Gautier, Erwan; Hernando, Ignacio; Sabbatini, Roberto; Stahl, Harald

    2007-01-01

    This paper documents producer price setting in 6 countries of the euro area: Germany, France, Italy, Spain, Belgium and Portugal. It collects evidence from available studies on each of those countries and also provides new evidence. These studies use monthly producer price data. The following five stylised facts emerge consistently across countries. First, producer prices change infrequently: each month around 21% of prices change. Second, there is substantial cross-sector heterogeneity in th...

  18. Gold Price, Stock Price and Exchange rate Nexus: The Case of India

    OpenAIRE

    Srinivasan P

    2014-01-01

    The paper investigates the causal nexus between gold price, stock price and exchange rate in India through the Autoregressive Distributed Lag (ARDL) bounds testing approach and Granger Causality test. Using monthly time series data, the empirical analysis is carried out for the period from June 1990 to April 2014. Our analysis reveals that gold price and stock price tend to have long-run relationship with exchange rate in India. Besides, there is no evidence of stable long-run cointegration r...

  19. EMPIRICAL GENERALIZATIONS ABOUT THE IMPACT OF ADVERTISING ON PRICE SENSITIVITY AND PRICE

    NARCIS (Netherlands)

    KAUL, A; WITTINK, DR

    1995-01-01

    Consumers' sensitivities to price changes are an important input to strategic and tactical decisions. It has been argued that price sensitivities depend on factors such as advertising Prior studies on the effect of advertising on consumer price sensitivity have found seemingly conflicting results. W

  20. 18 CFR 2.17 - Price discrimination and anticompetitive effect (price squeeze issue).

    Science.gov (United States)

    2010-04-01

    ... 18 Conservation of Power and Water Resources 1 2010-04-01 2010-04-01 false Price discrimination... discrimination and anticompetitive effect (price squeeze issue). To implement compliance with the Supreme Court... interested person may file petitions to intervene alleging price discrimination and anticompetitive...

  1. EMPIRICAL GENERALIZATIONS ABOUT THE IMPACT OF ADVERTISING ON PRICE SENSITIVITY AND PRICE

    NARCIS (Netherlands)

    KAUL, A; WITTINK, DR

    1995-01-01

    Consumers' sensitivities to price changes are an important input to strategic and tactical decisions. It has been argued that price sensitivities depend on factors such as advertising Prior studies on the effect of advertising on consumer price sensitivity have found seemingly conflicting results.

  2. When do relative prices matter for measuring income inequality? The case of food prices in Mozambique

    DEFF Research Database (Denmark)

    Arndt, Channing; Jones, Edward Samuel; Salvucci, Vincenzo

    2015-01-01

    Changes in relative prices of commodities consumed in different shares across income groups can be expected to alter real income differentials between these groups. Using Mozambican household budget survey and price data from 2002/03 and 2008/09, we show that once relative price increases are acc...

  3. Best Practices for New Product Pricing: Impact on Market Performance and Price Level under Different Conditions

    NARCIS (Netherlands)

    Ingenbleek, P.T.M.; Frambach, R.T.; Verhallen, Th.M.M.

    2013-01-01

    To date, research on new product pricing has predominantly been approached as a choice between market skimming and penetration pricing. Despite calls for research that addresses other complexities in new product pricing, empirical research responding to these calls remains scarce. This paper examine

  4. Gold Price, Stock Price and Exchange rate Nexus: The Case of India

    Directory of Open Access Journals (Sweden)

    Srinivasan P

    2014-06-01

    Full Text Available The paper investigates the causal nexus between gold price, stock price and exchange rate in India through the Autoregressive Distributed Lag (ARDL bounds testing approach and Granger Causality test. Using monthly time series data, the empirical analysis is carried out for the period from June 1990 to April 2014. Our analysis reveals that gold price and stock price tend to have long-run relationship with exchange rate in India. Besides, there is no evidence of stable long-run cointegration relationship among stock price and gold price in India. Our empirical findings also indicate that there exists no causality runs from gold price to stock price or vice versa in the short-run. It can be concluded that domestic gold price does not contain any significant information to forecast stock prices in India. The study findings are consistent with Kaliyamoorthy and Parithi (2012 where they found no evidence of causality between the gold price and stock price in India.

  5. Reducing electricity consumption peaks with parametrised dynamic pricing strategies given maximal unit prices

    NARCIS (Netherlands)

    Höning, N.F.; La Poutré, J.A.; Lopes, F.; Vale, Z.; Sousa, J.; Coelho, H.

    2013-01-01

    Demand response is a crucial mechanism for flattening of peak loads. For its implementation, we not only require consumers who react to price changes, but also intelligent strategies to select prices. We propose a parametrised meta-strategy for dynamic pricing and identify suitable strategies for gi

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

    Science.gov (United States)

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

    2015-08-01

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

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

    Science.gov (United States)

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

    2015-03-01

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

  8. 48 CFR 52.215-10 - Price Reduction for Defective Certified Cost or Pricing Data.

    Science.gov (United States)

    2010-10-01

    ... complete, accurate, and current as certified in its Certificate of Current Cost or Pricing Data; (2) A... complete, accurate, and current as certified in the Contractor's Certificate of Current Cost or Pricing... been modified even if accurate, complete, and current certified cost or pricing data had been...

  9. When do relative prices matter for measuring income inequality? The case of food prices in Mozambique

    DEFF Research Database (Denmark)

    Arndt, Channing; Jones, Edward Samuel; Salvucci, Vincenzo

    2015-01-01

    Changes in relative prices of commodities consumed in different shares across income groups can be expected to alter real income differentials between these groups. Using Mozambican household budget survey and price data from 2002/03 and 2008/09, we show that once relative price increases are acc...

  10. Best Practices for New Product Pricing: Impact on Market Performance and Price Level under Different Conditions

    NARCIS (Netherlands)

    Ingenbleek, P.T.M.; Frambach, R.T.; Verhallen, Th.M.M.

    2013-01-01

    To date, research on new product pricing has predominantly been approached as a choice between market skimming and penetration pricing. Despite calls for research that addresses other complexities in new product pricing, empirical research responding to these calls remains scarce. This paper

  11. Understanding the Impact of Higher Corn Prices on Consumer Food Prices

    Energy Technology Data Exchange (ETDEWEB)

    none,

    2007-04-18

    In an effort to assess the true effects of higher corn prices, the National Corn Growers Association (NCGA) commissioned an analysis on the impact of increased corn prices on retail food prices. This paper summarizes key results of the study and offers additional analysis based on information from a variety of other sources.

  12. The price facade: Symbolic and behavioral price cues in service environments

    NARCIS (Netherlands)

    Verhoeven, Joost W.M.; Rompay, van Thomas J.L.; Pruyn, Ad Th.H.

    2009-01-01

    Although the role of price expectations in predicting consumer behavior has been widely acknowledged, little is known about the way in which price expectations depend on environmental elements in hospitality settings. We propose that restaurant guests base price expectations on (1) perceptions of cu

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

    Science.gov (United States)

    2010-10-01

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

  14. Assessing Tuition and Student Aid Strategies: Using Price-Response Measures to Simulate Pricing Alternatives.

    Science.gov (United States)

    St. John, Edward P.

    1994-01-01

    A study used price-response measures from recent national studies to assess college and university pricing (tuition and student aid) alternatives in diverse institutional settings. It is concluded that such analyses are feasible. Analysis indicated limits to "Robin Hood" pricing patterns are predominant in private colleges. Consideration…

  15. Housing Price Fluctuations Across China: An Equilibrium Mechanism Perspective

    Institute of Scientific and Technical Information of China (English)

    ZHANG Hong; WENG Shaoqun; ZHOU Xuan

    2007-01-01

    The mechanisms affecting housing prices were studied using the equilibrium housing prices based on classic supply/demand theory. The fluctuations of the actual housing prices were then analyzed relative to the equilibrium prices. The equilibrium prices for each area were calculated from economic statistics and housing prices in 35 China metropolitan areas. The fluctuations of the actual prices are then manifested as functions of the equilibrium price, the mean reversion, and the autocorrelation coefficient. The results show that the equilibrium prices are determined by the basic economic conditions in China and that the equilibrium prices greatly affect the fluctuation of the actual prices, which return to the equilibrium price through self-adjustments. The data also shows that the actual prices in China have the trend of continuing to rise in the future.

  16. Consumers' price knowledge before, during, and after store visit

    DEFF Research Database (Denmark)

    Jensen, Birger Boutrup

    visit, thus enabling a study of what consumers learn about prices during the store visit, and consequently the relationship between reference prices and episodic price knowledge. The project applies three measures of consumers' price knowledge corresponding to different levels of price information......Many attempts have been made to measure consumers' price knowledge for frequently purchased goods. However, the results have varied considerably and conflict with the results of reference price studies. This is the first study to examine consumers' price knowledge before, during, and after store...... processing, which furthermore allows us to examine whether consumers' price memory is one- or multidimensional....

  17. The Basic Economics of CD-ROM Pricing.

    Science.gov (United States)

    Erkkila, John E.

    1991-01-01

    This explanation of how the basic economic model of pricing applies to the CD-ROM industry considers the supply and demand sides of the market and compares three distinct pricing strategies: (1) pricing to maximize profits; (2) average cost pricing; and (3) marginal cost pricing. (EAM)

  18. Reform Trend of China Natural Gas Price Policy

    Institute of Scientific and Technical Information of China (English)

    Du Wei; Liu Xinping

    2012-01-01

    China's natural gas price policy reform lags behind refined oil price reform comparatively, and current natural gas price policy could not adapt to the new situation of large scale import of foreign natural gas. Natural gas price reform could refer to the reform mode of refined oil price.

  19. Trend of Price and Economic Development in 2005

    Institute of Scientific and Technical Information of China (English)

    2005-01-01

    @@ The situation of the four major kinds of price in 2004-residents' con sumption price, price of production means, interest rate, foreign exchange rate-became main concern from the domestic and international personages. By reviewing the market price in 2004, and analyzing the current price variables, we will easily find the prospects of Chinese economy and people's life in 2005.

  20. Price Based Electric Vehicle Charging

    DEFF Research Database (Denmark)

    Mahat, Pukar; Handl, Martin; Kanstrup, Kenneth

    2012-01-01

    It is expected that a lot of the new light vehicles in the future will be electrical vehicles (EV). The storage capacity of these EVs has the potential to complement renewable energy resources and mitigate its intermittency. However, EV charging may have negative impact on the power grid. This pa......It is expected that a lot of the new light vehicles in the future will be electrical vehicles (EV). The storage capacity of these EVs has the potential to complement renewable energy resources and mitigate its intermittency. However, EV charging may have negative impact on the power grid....... This paper investigates the impact on a Danish distribution system when the EV charging aims to reduce the charging cost by charging at the cheapest hours. Results show that the charging based on the price signal only will have adverse effect on the grid. The paper also proposes an alternate EV charging...

  1. Stuck in a Price War?

    DEFF Research Database (Denmark)

    Poulsen, Søren Bolvig; Knutzen, Rikke; Christiansen, Lotte

    2010-01-01

    The objective of this article is to illustrate how a service can develop into an important differentiator as strategic and competitive element for medium-sized companies in B2B relations. Within the building material sector the main competition is on price – the cheaper you can provide a product...... the more competitive you are. This is a natural business factor and the case for many industries. This situation, however, has proven to retain companies marked positions as the larger companies have the advantages of purchasing with remarkable discounts due to the considerable amount of products, which...... sized supplier is through differentiating from its competitors. Service design holds a great potential as a strategic element under such circumstances, however there are two major challenges to confront. Firstly, in the design of the front stage there is the challenge of economy. The cost of the service...

  2. Keynes, population, and equity prices.

    Science.gov (United States)

    Tarascio, V J

    1985-01-01

    Keynes in 1937 examined the phenomenon of the Great Depression from a longrun perspective in contradiction to the "General Theory," where the focus was on the shortrun. "Some Economic Consequences of a Declining Population," Keynes' article, reveals the context in which the "General Theory" was written. In the "General Theory," the focus is on short-term fluctuations, i.e., business cycles, but Keynes fails to provide any theoretical explanation as to why the depression of the 1930s was so severe and intractable. In the 1937 article, the depression is seen as the result of the combined effects of a decline in longrun growth due to population growth decline and a shortrun cyclical decline, together producing severe economic consequences. What is important for the purposes of this discussion is the implication, within the context of the 1937 article, that not only was the stock market crash of 1929 related to population change (with its accompanying collapse in expectations) but that, in general, changes in the rate of growth of population are accompanied by stock price movements in the same direction. The remainder of the discussion is devoted to a simple empirical test of this relationship. The data used are population size (POP), defined as the total residential population in the US from 1870-1979, and the Standard and Poor 500 Stock index (SP) for the corresponding 109-year period. In addition, a 3rd series was constructed, a price deflated Standard and Poor index (RSP) with a base period of 1870, to account for possible inflationary distortion of the index. The empirical results do not invalidate the hypothesis that population growth rates affect equity markets. In fact, there seems to be strong evidence that they are related in a manner suggestive of Keynes' intutition, namely, that the stock market crash of 1929 was due to factors more fundamental than those often perceived from a shortrun perspective. According to Keynes (1937), population is the most

  3. Real estate prices and bank stability

    NARCIS (Netherlands)

    Koetter, Michael; Poghosyan, Tigran

    Real estate prices can deviate from their fundamental value due to rigid supply, heterogeneity in quality, and various market imperfections, which have two contrasting effects on bank stability. Higher prices increase the value of collateral and net wealth of borrowers and thus reduce the likelihood

  4. Real estate prices and bank stability

    NARCIS (Netherlands)

    Koetter, Michael; Poghosyan, Tigran

    2010-01-01

    Real estate prices can deviate from their fundamental value due to rigid supply, heterogeneity in quality, and various market imperfections, which have two contrasting effects on bank stability. Higher prices increase the value of collateral and net wealth of borrowers and thus reduce the likelihood

  5. ON THE INCREMENTS DISTRIBUTION OF STOCK PRICES

    Institute of Scientific and Technical Information of China (English)

    2001-01-01

    In this paper,the models of increment distributions of stock price are constructed with two approaches. The first approach is based on limit theorems of random summation. The second approach is based on the statistical analysis of the increment distribution of the logarithms of stock prices.

  6. Option Strike Price and Managerial Investment Decisions

    Institute of Scientific and Technical Information of China (English)

    刘鸿雁; 张维

    2003-01-01

    The manager′s investment decisions is modeled when the manager is risk-averse and has stock options as compensation. It is found that the strike price of options is crucial to the investment incentives of managers, and that the correct value, or interval of values, of managerial stock option strike price can bring stockholder and manager interests in agreement.

  7. 14 CFR 399.84 - Price advertising.

    Science.gov (United States)

    2010-01-01

    ... 14 Aeronautics and Space 4 2010-01-01 2010-01-01 false Price advertising. 399.84 Section 399.84... STATEMENTS STATEMENTS OF GENERAL POLICY Policies Relating to Enforcement § 399.84 Price advertising. The Board considers any advertising or solicitation by a direct air carrier, indirect air carrier, or...

  8. Uniformity Analysis for Index of Retail Price

    Institute of Scientific and Technical Information of China (English)

    潘竞红; 曾庆洪; 刘梅英

    2002-01-01

    Using the Hodges-Ajne testing method, the uniformity of China retail price index was tested. The result, that population is submitting to uniform dist ribution, was obtained. The uniformity of CRPI indicates that the general price level is stable in the Ninth Five-Year Plan. Finally, the reasons causing the uniformity was analyzed.

  9. Price Discrimination, Economies of Scale, and Profits.

    Science.gov (United States)

    Park, Donghyun

    2000-01-01

    Demonstrates that it is possible for economies of scale to induce a price-discriminating monopolist to sell in an unprofitable market where the average cost always exceeds the price. States that higher profits in the profitable market caused by economies of scale may exceed losses incurred in the unprofitable market. (CMK)

  10. Price of Vitamin B5 Increases Rapidly

    Institute of Scientific and Technical Information of China (English)

    2007-01-01

    @@ The export price of vitamin B5 in China has increased constantly in 2007. According to the analysis made by experts, the demand of vitamin B5 has not grown greatly. The main reason for the price rise is the change of the supply mode.

  11. Innovations in Statistical Observations of Consumer Prices

    Directory of Open Access Journals (Sweden)

    Olga Stepanovna Oleynik

    2016-10-01

    Full Text Available This article analyzes the innovative changes in the methodology of statistical surveys of consumer prices. These changes are reflected in the “Official statistical methodology for the organization of statistical observation of consumer prices for goods and services and the calculation of the consumer price index”, approved by order of the Federal State Statistics Service of December 30, 2014 no. 734. The essence of innovation is the use of mathematical methods in determining the range of studies objects of trade and services, in calculating the sufficient observable price quotes based on price dispersion, the proportion of the observed product (service, a representative of consumer spending, as well as the indicator of the complexity of price registration. The authors analyzed the mathematical calculations of the required number of quotations for observation in the Volgograd region in 2016, the results of calculations are compared with the number of quotes included in the monitoring. The authors believe that the implementation of these mathematical models allowed to substantially reduce the influence of the subjective factor in the organization of monitoring of consumer prices, and therefore to increase the objectivity of the resulting statistics on consumer prices and inflation. At the same time, the proposed methodology needs further improvement in terms of payment for goods, products (services by representatives having a minor share in consumer expenditure.

  12. Pricing Strategy for the Marine Supplies Industry

    DEFF Research Database (Denmark)

    Jiang, Liping; Hansen, Carsten Ørts

    What Is the Issue? Sustaining long-term growth requires marine suppliers to define their pricing strategies in a holistic fashion. However, pricing is an under-managed activity in many companies. Especially when moving towards servitization, services or integrated solutions are frequently...

  13. Energy Efficiency Policy and Carbon Pricing

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2011-07-01

    The main message of this paper is that while carbon pricing is a prerequisite for least-cost carbon mitigation strategies, carbon pricing is not enough to overcome all the barriers to cost-effective energy efficiency actions. Energy efficiency policy should be designed carefully for each sector to ensure optimal outcomes for a combination of economic, social and climate change goals. This paper aims to examine the justification for specific energy efficiency policies in economies with carbon pricing in place. The paper begins with an inventory of existing market failures that attempt to explain the limited uptake of energy efficiency. These market failures are investigated to see which can be overcome by carbon pricing in two subsectors -- electricity use in residential appliances and heating energy use in buildings. This analysis finds that carbon pricing addresses energy efficiency market failures such as externalities and imperfect energy markets. However, several market and behavioural failures in the two subsectors are identified that appear not to be addressed by carbon pricing. These include: imperfect information; principal-agent problems; and behavioural failures. In this analysis, the policies that address these market failures are identified as complementary to carbon pricing and their level of interaction with carbon pricing policies is relatively positive. These policies should be implemented when they can improve energy efficiency effectively and efficiently (and achieve other national goals such as improving socio-economic efficiency).

  14. Energy efficieny policy and carbon pricing

    Energy Technology Data Exchange (ETDEWEB)

    Ryan, Lisa; Moarif, Sara; Levina, Ellina; Baron, Richard

    2011-08-15

    The main message of this paper is that while carbon pricing is a prerequisite for least-cost carbon mitigation strategies, carbon pricing is not enough to overcome all the barriers to cost-effective energy efficiency actions. Energy efficiency policy should be designed carefully for each sector to ensure optimal outcomes for a combination of economic, social and climate change goals. This paper aims to examine the justification for specific energy efficiency policies in economies with carbon pricing in place. The paper begins with an inventory of existing market failures that attempt to explain the limited uptake of energy efficiency. These market failures are investigated to see which can be overcome by carbon pricing in two subsectors -- electricity use in residential appliances and heating energy use in buildings. This analysis finds that carbon pricing addresses energy efficiency market failures such as externalities and imperfect energy markets. However, several market and behavioural failures in the two subsectors are identified that appear not to be addressed by carbon pricing. These include: imperfect information; principal-agent problems; and behavioural failures. In this analysis, the policies that address these market failures are identified as complementary to carbon pricing and their level of interaction with carbon pricing policies is relatively positive. These policies should be implemented when they can improve energy efficiency effectively and efficiently (and achieve other national goals such as improving socio-economic efficiency).

  15. Outpatient Provider Concentration and Commercial Colonoscopy Prices

    Directory of Open Access Journals (Sweden)

    Alexis Pozen PhD

    2015-04-01

    Full Text Available The objective was to evaluate the magnitude of various contributors to outpatient commercial colonoscopy prices, including market- and provider-level factors, especially market share. We used adjudicated fee-for-service facility claims from a large commercial insurer for colonoscopies occurring in hospital outpatient department or ambulatory surgery center from October 2005 to December 2012. Claims were matched to provider- and market-level data. Linear fixed effects regressions of negotiated colonoscopy price were run on provider, system, and market characteristics. Markets were defined as counties. There were 178 433 claims from 169 providers (104 systems. The mean system market share was 76% (SD = 0.34 and the mean real (deflated price was US$1363 (SD = 374, ranging from US$169 to US$2748. For every percentage point increase in a system or individual facility’s bed share, relative price increased by 2 to 4 percentage points; this result was stable across a number of specifications. Market population and price were also consistently positively related, though this relation was small in magnitude. No other factor explained price as strongly as market share. Price variation for colonoscopy was driven primarily by market share, of particular concern as the number of mergers increases in wake of the recession and the Affordable Care Act. Whether variation is justified by better quality care requires further research to determine whether quality is subsumed in prices.

  16. Do Daily Retail Gasoline Prices adjust Asymmetrically?

    NARCIS (Netherlands)

    L.J.H. Bettendorf (Leon); S.A. van der Geest (Stéphanie); G. Kuper

    2005-01-01

    textabstractThis paper analyzes adjustments in the Dutch retail gasoline prices. We estimate an error correction model on changes in the daily retail price for gasoline (taxes excluded) for the period 1996-2004 taking care of volatility clustering by estimating an EGARCH model. It turns out the vola

  17. Price jumps on European stock markets

    Directory of Open Access Journals (Sweden)

    Jan Hanousek

    2014-03-01

    Full Text Available We analyze the dynamics of price jumps and the impact of the European debt crisis using the high-frequency data reported by selected stock exchanges on the European continent during the period January 2008 to June 2012. We employ two methods to identify price jumps: Method 1 minimizes the probability of false jump detection (the Type-II Error-Optimal price jump indicator and Method 2 maximizes the probability of successful jump detection (the Type-I Error-Optimal price jump indicator. We show that individual stock markets exhibited differences in price jump intensity before and during the crisis. We also show that in general the variance of price jump intensity could not be distinguished as different in the pre-crisis period from that during the crisis. Our results indicate that, contrary to common belief, the intensity of price jumps does not uniformly increase during a period of financial distress. However, there do exist differences in price jump dynamics across stock markets and investors have to model emerging and mature markets differently to properly reflect their individual dynamics.

  18. Pricing Liquidity Risk with Heterogeneous Investment Horizons

    NARCIS (Netherlands)

    Beber, A.; Driessen, J.; Tuijp, P.F.A.

    2012-01-01

    We develop a new asset pricing model with stochastic transaction costs and investors with heterogenous horizons. Short-term investors hold only liquid assets in equilibrium. This generates segmentation effects in the pricing of liquid versus illiquid assets. Specifically, the liquidity (risk) premia

  19. Do daily retail gasoline prices adjust asymmetrically?

    NARCIS (Netherlands)

    Bettendorf, L.; van der Geest, S. A.; Kuper, G. H.

    2009-01-01

    This paper analyses adjustments in the Dutch retail gasoline prices. We estimate an error correction model on changes in the daily retail price for gasoline (taxes excluded) for the period 1996-2004, taking care of volatility clustering by estimating an EGARCH model. It turns out that the volatility

  20. Do Daily Retail Gasoline Prices adjust Asymmetrically?

    NARCIS (Netherlands)

    L.J.H. Bettendorf (Leon); S.A. van der Geest (Stéphanie); G. Kuper

    2005-01-01

    textabstractThis paper analyzes adjustments in the Dutch retail gasoline prices. We estimate an error correction model on changes in the daily retail price for gasoline (taxes excluded) for the period 1996-2004 taking care of volatility clustering by estimating an EGARCH model. It turns out the vola

  1. Dynamic Pricing and Learning with Finite Inventories

    NARCIS (Netherlands)

    Zwart, A.P.; Boer, A.V. den

    2015-01-01

    We study a dynamic pricing problem with finite inventory and parametric uncertainty on the demand distribution. Products are sold during selling seasons of finite length, and inventory that is unsold at the end of a selling season perishes. The goal of the seller is to determine a pricing strategy t

  2. Dynamic pricing and learning with finite inventories

    NARCIS (Netherlands)

    Boer, den Arnoud V.; Zwart, Bert

    2015-01-01

    We study a dynamic pricing problem with finite inventory and parametric uncertainty on the demand distribution. Products are sold during selling seasons of finite length, and inventory that is unsold at the end of a selling season perishes. The goal of the seller is to determine a pricing strategy t

  3. Dynamic pricing and learning with finite inventories

    NARCIS (Netherlands)

    Boer, den Arnoud; Zwart, Bert

    2013-01-01

    We study a dynamic pricing problem with finite inventory and parametric uncertainty on the demand distribution. Products are sold during selling seasons of finite length, and inventory that is unsold at the end of a selling season, perishes. The goal of the seller is to determine a pricing strategy

  4. Rising food prices and household food security

    African Journals Online (AJOL)

    of rising food prices and coping strategies of 60 female-headed households ... systematic review.8 The rise in food prices will most likely result in a reduction in ... risk of chronic diseases, which was in contrast to lower diet costs associated with ... approach requires diversification into many sources of food as well as building ...

  5. House Prices, Bubbles and City Size

    NARCIS (Netherlands)

    M.J.P.M. Thissen (Mark); M.J. Burger (Martijn); F.G. van Oort (Frank)

    2010-01-01

    textabstractWe build a theoretical model that relates house price, city size and the expected future growth of demand for housing. Our model combines the Alonso-Mills model on urban economics with insights from financial economics on house prices. Estimating the model for cities in the US, we empiri

  6. Book Discounts and Cost-Plus Pricing

    Science.gov (United States)

    Andresen, David C.

    1974-01-01

    The adoption of cost-plus pricing by a major book jobber may have profound effects on the discounts that libraries receive. The article explains the pricing system and presents a set of graphs for libraries to use to determine its effects. (Author)

  7. Actuarial risk measures for financial derivative pricing

    NARCIS (Netherlands)

    M.J. Goovaerts; R.J.A. Laeven

    2008-01-01

    We present an axiomatic characterization of price measures that are superadditive and comonotonic additive for normally distributed random variables. The price representation derived involves a probability measure transform that is closely related to the Esscher transform, and we call it the Esscher

  8. Politics, economics and the price of oil

    Energy Technology Data Exchange (ETDEWEB)

    Zaki Yamani, S.A.

    1992-10-01

    This paper describes petroleum price instability in connection with politics intrusion into the oil business. The author shows the dominant position of OPEC on petroleum market during the 70s and the 80s, the influence of Iranian revolution, Iran / Iraq war and Kuwait invasion by Iraq on petroleum price evolution. 5 figs.

  9. 48 CFR 15.405 - Price negotiation.

    Science.gov (United States)

    2010-10-01

    ... with a price providing the contractor the greatest incentive for efficient and economical performance... profit or fee negotiated to achieve a total result—a price that is fair and reasonable to both the... affect the profit or fee objective. Because profit or fee is only one of several interrelated...

  10. Privacy Enhanced Fraud Resistant Road Pricing

    NARCIS (Netherlands)

    Hoepman, J.H.; Huitema, G.B.

    2010-01-01

    A naive implementation of a road pricing system will collect an enormous amount of personal location data. In this paper we present a sophisticated system that is privacy friendly, i.e. where the invoices contain aggregated pricing information and where only the driver has insight into all the under

  11. Gasoline Prices and Motor Vehicle Fatalities

    Science.gov (United States)

    Grabowski, David C.; Morrisey, Michael A.

    2004-01-01

    Fatal motor vehicle crashes per capita remained relatively stable over the 1990s, in spite of new traffic safety laws and vehicle innovations. One explanation for this stability is that the price of gasoline declined, which resulted in more vehicle miles traveled and potentially more fatalities. By using 1983-2000 monthly gasoline price and…

  12. Constructing forward price curves in electricity markets

    DEFF Research Database (Denmark)

    Fleten, S.-E.; Lemming, Jørgen Kjærgaard

    2003-01-01

    We present and analyze a method for constructing approximated high-resolution forward price curves in electricity markets. Because a limited number of forward or futures contracts are traded in the market, only a limited picture of the theoretical continuous forward price curve is available...

  13. The Location Model with Reservation Prices

    NARCIS (Netherlands)

    Webers, H.M.

    1996-01-01

    In this paper, we analyze a variant of the standard Hotelling model of spatial competition where firms first choose locations along the line and then, given these locations, compete in prices.Consumers have a finite reservation price and incur a quadratic transportation cost.We show that there exist

  14. Adaptive Strategies for Dynamic Pricing Agents

    NARCIS (Netherlands)

    S. Ramezani (Sara); P.A.N. Bosman (Peter); J.A. La Poutré (Han)

    2011-01-01

    htmlabstractDynamic Pricing (DyP) is a form of Revenue Management in which the price of a (usually) perishable good is changed over time to increase revenue. It is an effective method that has become even more relevant and useful with the emergence of Internet firms and the possibility of readily

  15. Maximal Cartel Pricing and Leniency Programs

    NARCIS (Netherlands)

    Houba, H.E.D.; Motchenkova, E.; Wen, Q.

    2008-01-01

    For a general class of oligopoly models with price competition, we analyze the impact of ex-ante leniency programs in antitrust regulation on the endogenous maximal-sustainable cartel price. This impact depends upon industry characteristics including its cartel culture. Our analysis disentangles the

  16. Intraday Price Discovery in Fragmented Markets

    NARCIS (Netherlands)

    S.R. Ozturk (Sait); M. van der Wel (Michel); D.J.C. van Dijk (Dick)

    2014-01-01

    textabstractFor many assets, trading is fragmented across multiple exchanges. Price discovery measures summarize the informativeness of trading on each venue for discovering the asset’s true underlying value. We explore intraday variation in price discovery using a structural model with

  17. 48 CFR 970.1504 - Contract pricing.

    Science.gov (United States)

    2010-10-01

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

  18. 48 CFR 3.103 - Independent pricing.

    Science.gov (United States)

    2010-10-01

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

  19. 39 CFR 551.6 - Pricing.

    Science.gov (United States)

    2010-07-01

    ... 39 Postal Service 1 2010-07-01 2010-07-01 false Pricing. 551.6 Section 551.6 Postal Service UNITED STATES POSTAL SERVICE POSTAGE PROGRAMS SEMIPOSTAL STAMP PROGRAM § 551.6 Pricing. (a) The Semipostal Authorization Act, as amended by Public Law 107-67, section 652, 115 Stat. 514 (2001), prescribes that the...

  20. 76 FR 417 - 2011 Numismatic Products Pricing

    Science.gov (United States)

    2011-01-04

    ... From the Federal Register Online via the Government Publishing Office DEPARTMENT OF THE TREASURY United States Mint 2011 Numismatic Products Pricing ACTION: Notice. SUMMARY: The United States Mint is announcing the prices of its 2011 numismatic products. Pursuant to the authority that 31 U.S.C....