26 CFR 1.61-2T - Taxation of fringe benefits-1985 through 1988 (temporary).

Code of Federal Regulations, 2011 CFR

2011-04-01

... concerning the application of law in effect prior to January 1, 1985. (b) Valuation of fringe benefits—(1) In... particular fringe benefit. Thus, for example, the effect of any special relationship that may exist between... to employer-provided vehicles. Paragraph (f) provides a commuting valuation rule relating to employer...

26 CFR 1.61-2T - Taxation of fringe benefits-1985 through 1988 (temporary).

Code of Federal Regulations, 2013 CFR

2013-04-01

... concerning the application of law in effect prior to January 1, 1985. (b) Valuation of fringe benefits—(1) In... particular fringe benefit. Thus, for example, the effect of any special relationship that may exist between... to employer-provided vehicles. Paragraph (f) provides a commuting valuation rule relating to employer...

26 CFR 1.61-2T - Taxation of fringe benefits-1985 through 1988 (temporary).

Code of Federal Regulations, 2012 CFR

2012-04-01

... concerning the application of law in effect prior to January 1, 1985. (b) Valuation of fringe benefits—(1) In... particular fringe benefit. Thus, for example, the effect of any special relationship that may exist between... to employer-provided vehicles. Paragraph (f) provides a commuting valuation rule relating to employer...

26 CFR 1.1014-3 - Other basis rules.

Code of Federal Regulations, 2010 CFR

2010-04-01

... inheritance or transmission taxes shall be deemed to be its fair market value and no alternate valuation date... Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Basis Rules of General Application § 1.1014-3 Other basis rules. (a) Fair market value. For...

26 CFR 25.2702-2 - Definitions and valuation rules.

Code of Federal Regulations, 2011 CFR

2011-04-01

... instruments creating and governing the operation of the trust arrangement. (b) Valuation of retained interests... spouse for life. Upon the death of D's spouse, the trust is to terminate and the trust corpus is to be... which the income is to be paid to A for life. Upon termination of the trust, the trust corpus is to be...

77 FR 74722 - Self-Regulatory Organizations; Chicago Mercantile Exchange Inc.; Order Approving Proposed Rule...

Federal Register 2010, 2011, 2012, 2013, 2014

2012-12-17

... to approve a proposed rule change of a self-regulatory organization if it finds that such proposed... SECURITIES AND EXCHANGE COMMISSION [Release No. 34-68401; File No. SR-CME-2012-42] Self-Regulatory Organizations; Chicago Mercantile Exchange Inc.; Order Approving Proposed Rule Change Regarding the Valuation of...

26 CFR 25.2701-2 - Special valuation rules for applicable retained interests.

Code of Federal Regulations, 2010 CFR

2010-04-01

... stock. Assume that at the time of the transfer, the fair market value of X is $1,500,000, and the fair market value of P's annual cumulative dividend right is $1,000,000. Because the preferred stock confers... applying the valuation method of § 25.2701-3, the value of P's preferred stock is its fair market value...

Medicare program; limit on the valuation of a depreciable asset recognized as an allowance for depreciation and interest on capital indebtedness after a change of ownership--HCFA. Final rule with comment period.

PubMed

1998-01-09

This final rule with comment period revises the Medicare provider reimbursement regulations relative to allowable costs and sets a limit on the valuation of a depreciable asset that may be recognized in establishing an appropriate allowance for depreciation and for interest on capital indebtedness after a change of ownership that occurs on or after December 1, 1997. These provisions apply to providers that are reimbursed on the basis of reasonable costs. This change implements the mandate in section 4404 of the Balanced Budget Act of 1997 (Pub. L. 105-33).

26 CFR 1.6662-1 - Overview of the accuracy-related penalty.

Code of Federal Regulations, 2010 CFR

2010-04-01

... one or more of the following: (a) Negligence or disregard of rules or regulations; (b) Any substantial..., i.e., the penalties for negligence or disregard of rules or regulations, substantial understatements...), respectively. The penalties for negligence and for a substantial (or gross) valuation misstatement under...

[Decisions in case of "problematic" cost-effectiveness ratios based on the example of a clinical trial in rehabilitation care].

PubMed

Leidl, R; Jacobi, E; Knab, J; Schweikert, B

2006-04-01

Economic assessment of an additional psychological intervention in the rehabilitation of patients with chronic low-back pain and evaluation of results by decision makers. Piggy-back cost-utility analysis of a randomised clinical trial, including a bootstrap analysis. Costs were measured by using the cost accounting systems of the rehabilitation clinics and by surveying patients. Health-related quality of life was measured using the EQ-5D. Implications of different representations of the decision problem and corresponding decision rules concerning the cost-effectiveness plane are discussed. As compared with the 126 patients of the control arm, the 98 patients in the intervention arm gained 3.5 days in perfect health on average as well as 1219 euro cost saving. However, because of the uncertainty involved, the results of a bootstrap analysis cover all quadrants of the cost-effectiveness plane. Using maximum willingness-to-pay per effect unit gained, decision rules can be defined for parts of the cost-effectiveness plane. These have to be aggregated in a further valuation step. Study results show that decisions on stochastic economic evaluation results may require an additional valuation step aggregating the various parts of the cost-effectiveness plane.

26 CFR 25.2701-7 - Separate interests.

Code of Federal Regulations, 2011 CFR

2011-04-01

... 26 Internal Revenue 14 2011-04-01 2010-04-01 true Separate interests. 25.2701-7 Section 25.2701-7... GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954 Special Valuation Rules § 25.2701-7 Separate interests..., prescribe rules under which an applicable retained interest is treated as two or more separate interests for...

26 CFR 25.2701-7 - Separate interests.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Separate interests. 25.2701-7 Section 25.2701-7... GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954 Special Valuation Rules § 25.2701-7 Separate interests..., prescribe rules under which an applicable retained interest is treated as two or more separate interests for...

26 CFR 25.2702-3 - Qualified interests.

Code of Federal Regulations, 2011 CFR

2011-04-01

... 26 Internal Revenue 14 2011-04-01 2010-04-01 true Qualified interests. 25.2702-3 Section 25.2702-3... GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954 Special Valuation Rules § 25.2702-3 Qualified interests. (a) In general. This section provides rules for determining if an interest is a qualified annuity...

26 CFR 25.2701-1 - Special valuation rules in the case of transfers of certain interests in corporations and...

Code of Federal Regulations, 2010 CFR

2010-04-01

... double taxation when an applicable retained interest is subsequently transferred. (2) Effect of section... individual transfers an equity interest in a corporation or partnership to a member of the individual's... time of the initial transfer, § 25.2701-4 provides a special rule to increase the individual's later...

78 FR 44997 - Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of...

Federal Register 2010, 2011, 2012, 2013, 2014

2013-07-25

... historic Rule 144A transaction data, to amend the definition of Historic TRACE Data to reference the three... dissemination of Rule 144A transactions. Nine commenters supported such dissemination and three commenters were... addition, transparency in this sector may improve the quality of the valuation of securities and derivative...

13 CFR 107.1590 - Special rules for companies licensed on or before March 31, 1993.

Code of Federal Regulations, 2014 CFR

2014-01-01

... 13 Business Credit and Assistance 1 2014-01-01 2014-01-01 false Special rules for companies licensed on or before March 31, 1993. 107.1590 Section 107.1590 Business Credit and Assistance SMALL... valuation reports on the Small Business, prepared as of the end of each of your last three fiscal years. If...

13 CFR 107.1590 - Special rules for companies licensed on or before March 31, 1993.

Code of Federal Regulations, 2013 CFR

2013-01-01

... 13 Business Credit and Assistance 1 2013-01-01 2013-01-01 false Special rules for companies licensed on or before March 31, 1993. 107.1590 Section 107.1590 Business Credit and Assistance SMALL... valuation reports on the Small Business, prepared as of the end of each of your last three fiscal years. If...

13 CFR 107.1590 - Special rules for companies licensed on or before March 31, 1993.

Code of Federal Regulations, 2011 CFR

2011-01-01

... 13 Business Credit and Assistance 1 2011-01-01 2011-01-01 false Special rules for companies licensed on or before March 31, 1993. 107.1590 Section 107.1590 Business Credit and Assistance SMALL... valuation reports on the Small Business, prepared as of the end of each of your last three fiscal years. If...

13 CFR 107.1590 - Special rules for companies licensed on or before March 31, 1993.

Code of Federal Regulations, 2012 CFR

2012-01-01

... 13 Business Credit and Assistance 1 2012-01-01 2012-01-01 false Special rules for companies licensed on or before March 31, 1993. 107.1590 Section 107.1590 Business Credit and Assistance SMALL... valuation reports on the Small Business, prepared as of the end of each of your last three fiscal years. If...

Defining the rift : U.S. economist examines the consequences of the differences in U.S. and Canadian stumpage valuations

Treesearch

Henry Spelter

2005-01-01

If America had Canada’s stumpage system, then there wouldn’t be much of a dispute. But the reality is there are two distinct models of timber valuation, and the core of America’s complaint vis-à-vis Canada is that, as a result, there is an asymmetry in the market where the two sides compete: on the one hand all producers have equal access under the same rules and...

26 CFR 1.742-1 - Basis of transferee partner's interest.

Code of Federal Regulations, 2010 CFR

2010-04-01

... under the general basis rules for property provided by part II (section 1011 and following), subchapter... death or at the alternate valuation date, increased by his estate's or other successor's share of...

77 FR 60695 - Agency Information Collection Activities: Announcement of Board Approval Under Delegated...

Federal Register 2010, 2011, 2012, 2013, 2014

2012-10-04

... (CRM) surcharge data item to the annual schedule, and revise the quarterly schedule to include the... reflect the Market Risk rule's CRM, (6) revising the Credit RWA associated with Credit Valuation...

Cost-benefit analysis involving addictive goods: contingent valuation to estimate willingness-to-pay for smoking cessation.

PubMed

Weimer, David L; Vining, Aidan R; Thomas, Randall K

2009-02-01

The valuation of changes in consumption of addictive goods resulting from policy interventions presents a challenge for cost-benefit analysts. Consumer surplus losses from reduced consumption of addictive goods that are measured relative to market demand schedules overestimate the social cost of cessation interventions. This article seeks to show that consumer surplus losses measured using a non-addicted demand schedule provide a better assessment of social cost. Specifically, (1) it develops an addiction model that permits an estimate of the smoker's compensating variation for the elimination of addiction; (2) it employs a contingent valuation survey of current smokers to estimate their willingness-to-pay (WTP) for a treatment that would eliminate addiction; (3) it uses the estimate of WTP from the survey to calculate the fraction of consumer surplus that should be viewed as consumer value; and (4) it provides an estimate of this fraction. The exercise suggests that, as a tentative first and rough rule-of-thumb, only about 75% of the loss of the conventionally measured consumer surplus should be counted as social cost for policies that reduce the consumption of cigarettes. Additional research to estimate this important rule-of-thumb is desirable to address the various caveats relevant to this study. Copyright (c) 2008 John Wiley & Sons, Ltd.

15 CFR 295.25 - Special rule for the valuation of transfers between separately-owned joint venture members.

Code of Federal Regulations, 2013 CFR

2013-01-01

... goods, including computer software, and services provided by the transferor related to the maintenance... non-Federal share of the total cost of the joint research and development program. (c) Definition. The...

15 CFR 295.25 - Special rule for the valuation of transfers between separately-owned joint venture members.

Code of Federal Regulations, 2010 CFR

2010-01-01

... goods, including computer software, and services provided by the transferor related to the maintenance... non-Federal share of the total cost of the joint research and development program. (c) Definition. The...

15 CFR 295.25 - Special rule for the valuation of transfers between separately-owned joint venture members.

Code of Federal Regulations, 2012 CFR

2012-01-01

... goods, including computer software, and services provided by the transferor related to the maintenance... non-Federal share of the total cost of the joint research and development program. (c) Definition. The...

15 CFR 295.25 - Special rule for the valuation of transfers between separately-owned joint venture members.

Code of Federal Regulations, 2011 CFR

2011-01-01

... goods, including computer software, and services provided by the transferor related to the maintenance... non-Federal share of the total cost of the joint research and development program. (c) Definition. The...

Comparing 15D Valuation Studies in Norway and Finland-Challenges When Combining Information from Several Valuation Tasks.

PubMed

Michel, Yvonne Anne; Augestad, Liv Ariane; Rand, Kim

2018-04-01

The 15D is a generic preference-based health-related quality-of-life instrument developed in Finland. Values for the 15D instrument are estimated by combining responses to three distinct valuation tasks. The impact of how these tasks are combined is relatively unexplored. To compare 15D valuation studies conducted in Norway and Finland in terms of scores assigned in the valuation tasks and resulting value algorithms, and to discuss the contributions of each task and the algorithm estimation procedure to observed differences. Norwegian and Finnish scores from the three valuation tasks were compared using independent samples t tests and Lin concordance correlation coefficients. Covariance between tasks was assessed using Pearson product-moment correlations. Norwegian and Finnish value algorithms were compared using concordance correlation coefficients, total ranges, and ranges for individual dimensions. Observed differences were assessed using minimal important difference. Mean scores in the main valuation task were strikingly similar between the two countries, whereas the final value algorithms were less similar. The largest differences between Norway and Finland were observed for depression, vision, and mental function. 15D algorithms are a product of combining scores from three valuation tasks by use of methods involving multiplication. This procedure used to combine scores from the three tasks by multiplication serves to amplify variance from each task. From relatively similar responses in Norway and Finland, diverging value algorithms are created. We propose to simplify the 15D algorithm estimation procedure by using only one of the valuation tasks. Copyright © 2018 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

Health literacy and logical inconsistencies in valuations of hypothetical health states: results from the Canadian EQ-5D-5L valuation study.

PubMed

Al Sayah, Fatima; Johnson, Jeffrey A; Ohinmaa, Arto; Xie, Feng; Bansback, Nick

2017-06-01

To examine the association of health literacy with logical inconsistencies in time trade-off valuations of hypothetical health states described by the EQ-5D-5L classification system. Data from the EQ-5D-5L Canadian Valuation study were used. Health literacy was assessed using the Brief Health Literacy Screen. A health state valuation was considered logically inconsistent if a respondent gave the same or lower value for a very mild health state compared to the value given to 55555, or gave the same or lower value for a very mild health state compared to value assigned to the majority of the health states that are dominated by the very mild health state. Average age of respondents (N = 1209) was 48 (SD = 17) years, 45% were male, 7% reported inadequate health literacy, and 11% had a logical inconsistency. In adjusted analysis, participants with inadequate health literacy were 2.2 (95%CI: 1.2, 4.0; p = 0.014) times more likely to provide an inconsistent valuation compared to those with adequate health literacy. More specifically, those who had problems in "understanding written information" and "reading health information" were more likely to have a logical inconsistency compared to those who did not. However, lacking "confidence in completing medical forms" was not associated with logical inconsistencies. Health literacy was associated with logical inconsistencies in valuations of hypothetical health states described by the EQ-5D-5L classification system. Valuations studies should consider assessing health literacy, and explore better ways to introduce the valuation tasks or use simpler approaches of health preferences elicitation for individuals with inadequate health literacy.

29 CFR 4231.5 - Valuation requirement.

Code of Federal Regulations, 2010 CFR

2010-07-01

..., TERMINATION, AND OTHER RULES APPLICABLE TO MULTIEMPLOYER PLANS MERGERS AND TRANSFERS BETWEEN MULTIEMPLOYER... plan, or that is a significantly affected plan only because the merger or transfer involves a plan that... years before the date on which the notice of the merger or transfer is filed. (b) Significantly affected...

26 CFR 25.2702-0 - Table of contents.

Code of Federal Regulations, 2010 CFR

2010-04-01

... Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) ESTATE AND GIFT TAXES GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954 Special Valuation Rules § 25.2702-0 Table of contents... section 2702. (c) Exceptions to section 2702. (1) Incomplete gift. (2) Personal residence trust. (3...

26 CFR 20.2031-6 - Valuation of household and personal effects.

Code of Federal Regulations, 2010 CFR

2010-04-01

....g., jewelry, furs, silverware, paintings, etchings, engravings, antiques, books, statuary, vases... effect distribution or sale of any portion of the household or personal effects of the decedent in... one be deemed necessary prior to sale or distribution. (d) Additional rules if an appraisal involved...

26 CFR 20.2031-6 - Valuation of household and personal effects.

Code of Federal Regulations, 2011 CFR

2011-04-01

....g., jewelry, furs, silverware, paintings, etchings, engravings, antiques, books, statuary, vases... effect distribution or sale of any portion of the household or personal effects of the decedent in... one be deemed necessary prior to sale or distribution. (d) Additional rules if an appraisal involved...

26 CFR 20.2031-6 - Valuation of household and personal effects.

Code of Federal Regulations, 2014 CFR

2014-04-01

....g., jewelry, furs, silverware, paintings, etchings, engravings, antiques, books, statuary, vases... effect distribution or sale of any portion of the household or personal effects of the decedent in... one be deemed necessary prior to sale or distribution. (d) Additional rules if an appraisal involved...

26 CFR 20.2031-6 - Valuation of household and personal effects.

Code of Federal Regulations, 2012 CFR

2012-04-01

....g., jewelry, furs, silverware, paintings, etchings, engravings, antiques, books, statuary, vases... effect distribution or sale of any portion of the household or personal effects of the decedent in... one be deemed necessary prior to sale or distribution. (d) Additional rules if an appraisal involved...

26 CFR 20.2031-6 - Valuation of household and personal effects.

Code of Federal Regulations, 2013 CFR

2013-04-01

....g., jewelry, furs, silverware, paintings, etchings, engravings, antiques, books, statuary, vases... effect distribution or sale of any portion of the household or personal effects of the decedent in... one be deemed necessary prior to sale or distribution. (d) Additional rules if an appraisal involved...

Simulation-Based Valuation of Transactive Energy Systems

DOE PAGES

Huang, Qiuhua; McDermott, Tom; Tang, Yingying; ...

2018-05-18

Transactive Energy (TE) has been recognized as a promising technique for integrating responsive loads and distributed energy resources as well as advancing grid modernization. To help the industry better understand the value of TE and compare different TE schemes in a systematic and transparent manner, a comprehensive simulation-based TE valuation method is developed. The method has the following salient features: 1) it formally defines the valuation scenarios, use cases, baseline and valuation metrics; 2) an open-source simulation platform for transactive energy systems has been developed by integrating transmission, distribution and building simulators, and plugin TE and non-TE agents through themore » Framework for Network Co-Simulation (FNCS); 3) transparency and flexibility of the valuation is enhanced through separation of simulation and valuation, base valuation metrics and final valuation metrics. In conclusion, a valuation example based on the Smart Grid Interoperability Panel (SGIP) Use Case 1 is provided to demonstrate the developed TE simulation program and the valuation method.« less

Simulation-Based Valuation of Transactive Energy Systems

DOE Office of Scientific and Technical Information (OSTI.GOV)

Huang, Qiuhua; McDermott, Tom; Tang, Yingying

Transactive Energy (TE) has been recognized as a promising technique for integrating responsive loads and distributed energy resources as well as advancing grid modernization. To help the industry better understand the value of TE and compare different TE schemes in a systematic and transparent manner, a comprehensive simulation-based TE valuation method is developed. The method has the following salient features: 1) it formally defines the valuation scenarios, use cases, baseline and valuation metrics; 2) an open-source simulation platform for transactive energy systems has been developed by integrating transmission, distribution and building simulators, and plugin TE and non-TE agents through themore » Framework for Network Co-Simulation (FNCS); 3) transparency and flexibility of the valuation is enhanced through separation of simulation and valuation, base valuation metrics and final valuation metrics. In conclusion, a valuation example based on the Smart Grid Interoperability Panel (SGIP) Use Case 1 is provided to demonstrate the developed TE simulation program and the valuation method.« less

26 CFR 1.7874-2T - Surrogate foreign corporation (temporary).

Code of Federal Regulations, 2010 CFR

2010-04-01

... 26 Internal Revenue 13 2010-04-01 2010-04-01 false Surrogate foreign corporation (temporary). 1... (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES General Actuarial Valuations § 1.7874-2T Surrogate foreign corporation (temporary). (a) Scope. This section provides rules for determining whether a foreign corporation...

75 FR 62905 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of a Proposed Rule Change...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-10-13

... of high yield debt securities, which include senior and subordinated corporate debt obligations (such... banks, corporations and other entities to finance short- term credit needs. These securities generally..., rather than just traditional credit analysis. Through fundamental and valuation analysis, the Sub-Advisor...

26 CFR 26.2642-2 - Valuation.

Code of Federal Regulations, 2010 CFR

2010-04-01

... of property transferred during life is its fair market value on the effective date of the allocation... chapter 12. (2) Special rule for late allocations during life. If a transferor makes a late allocation of... a life insurance policy or a trust holding a life insurance policy, if the insured individual has...

Intelligent databases assist transparent and sound economic valuation of ecosystem services.

PubMed

Villa, Ferdinando; Ceroni, Marta; Krivov, Sergey

2007-06-01

Assessment and economic valuation of services provided by ecosystems to humans has become a crucial phase in environmental management and policy-making. As primary valuation studies are out of the reach of many institutions, secondary valuation or benefit transfer, where the results of previous studies are transferred to the geographical, environmental, social, and economic context of interest, is becoming increasingly common. This has brought to light the importance of environmental valuation databases, which provide reliable valuation data to inform secondary valuation with enough detail to enable the transfer of values across contexts. This paper describes the role of next-generation, intelligent databases (IDBs) in assisting the activity of valuation. Such databases employ artificial intelligence to inform the transfer of values across contexts, enforcing comparability of values and allowing users to generate custom valuation portfolios that synthesize previous studies and provide aggregated value estimates to use as a base for secondary valuation. After a general introduction, we introduce the Ecosystem Services Database, the first IDB for environmental valuation to be made available to the public, describe its functionalities and the lessons learned from its usage, and outline the remaining needs and expected future developments in the field.

Wyoming's "Education Reform & Cost Study."

ERIC Educational Resources Information Center

Meyer, Joseph B.

A history of education in the state of Wyoming, along with a description of recent legislative initiatives, are presented in this paper. It opens with statewide reorganizations begun in the 1960s that unified school districts and equalized property valuation. A decade later a court order ruled the system inequitable and new laws provided for a…

29 CFR 4044.53 - Mortality assumptions.

Code of Federal Regulations, 2013 CFR

2013-07-01

... assumptions. (a) General rule. Subject to paragraph (b) of this section (regarding certain death benefits...), and (g) of this section to value benefits under § 4044.52. (b) Certain death benefits. If an annuity for one person is in pay status on the valuation date, and if the payment of a death benefit after the...

29 CFR 4044.53 - Mortality assumptions.

Code of Federal Regulations, 2012 CFR

2012-07-01

... assumptions. (a) General rule. Subject to paragraph (b) of this section (regarding certain death benefits...), and (g) of this section to value benefits under § 4044.52. (b) Certain death benefits. If an annuity for one person is in pay status on the valuation date, and if the payment of a death benefit after the...

29 CFR 4044.53 - Mortality assumptions.

Code of Federal Regulations, 2014 CFR

2014-07-01

... assumptions. (a) General rule. Subject to paragraph (b) of this section (regarding certain death benefits...), and (g) of this section to value benefits under § 4044.52. (b) Certain death benefits. If an annuity for one person is in pay status on the valuation date, and if the payment of a death benefit after the...

29 CFR 4044.53 - Mortality assumptions.

Code of Federal Regulations, 2011 CFR

2011-07-01

... assumptions. (a) General rule. Subject to paragraph (b) of this section (regarding certain death benefits...), and (g) of this section to value benefits under § 4044.52. (b) Certain death benefits. If an annuity for one person is in pay status on the valuation date, and if the payment of a death benefit after the...

78 FR 7215 - Disclosure and Delivery Requirements for Copies of Appraisals and Other Written Valuations Under...

Federal Register 2010, 2011, 2012, 2013, 2014

2013-01-31

... described above, the inter-agency group is issuing a final rule under section 129H of TILA (2103 Interagency... Communication Group, Inc. (Kleimann), which specializes in consumer financial disclosures. The Bureau and... Interagency Appraisals Proposal and involved a large bank, a trade group of smaller depository institutions...

26 CFR 25.2702-6 - Reduction in taxable gifts.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Reduction in taxable gifts. 25.2702-6 Section... AND GIFT TAXES GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954 Special Valuation Rules § 25.2702-6 Reduction in taxable gifts. (a) Transfers of retained interests in trust—(1) Inter vivos transfers. If an...

76 FR 23645 - Proposed Collection; Comment Request for Regulation Project

Federal Register 2010, 2011, 2012, 2013, 2014

2011-04-27

... special favorable valuation rules for valuing the gift of a personal residence trust. [[Page 23646... in the regulations, the trust will be treated as complying if a statement is attached to the gift tax return reporting the gift stating that a proceeding has been commenced to reform the instrument to comply...

Passenger Vessel Damage Stability Study for 1990 SOLAS Amendments. Volume 2. Appendix B

DTIC Science & Technology

1994-09-01

0.1 Note: Drafts are measured at A.P. and F.P alang ship’s centertine GE SUMMARY (Bvaluated per IKO (SOLAB󈨞) Rules for Passenger Ships) Available...Drafts are measured at A.P. and F.P alang ship’s centertine 03 SUNMIRY (Nvaluated per liO (8OLA1󈨞) Rules for Passenger Ships) Available Required...156.0 ------------------------------------ i- ------------ Note: Drafts are mesured at A.P. and F.P alang ship’s center ,Irw GZ SUMMARY (2valuateG per

Eliciting willingness to pay: comparing closed-ended with open-ended and payment scale formats.

PubMed

Frew, Emma J; Whynes, David K; Wolstenholme, Jane L

2003-01-01

Willingness to pay (WTP) is increasingly being used as a measure of valuation in health technology assessment. A variety of formats for eliciting values are available, although the relative virtues of each remain the subject of methodological controversy. This article compares valuation results obtained using a WTP survey instrument in a closed-ended format with those obtained from instruments using open-ended and payment scale formats. Samples of subjects were drawn from a general population, and all were asked to value the same intervention--alternative methods of screening for colorectal cancer. It was discovered that, whereas the open-ended and payment scale formats produced broadly similar valuations, the closed-ended format produced significantly higher WTP valuations and different justifications for those valuations. It is hypothesized that anchoring and yea-saying effects explain these differences and that the closed-ended format triggers a different response mode in subjects.

30 CFR 206.100 - What is the purpose of this subpart?

Code of Federal Regulations, 2010 CFR

2010-07-01

... for the lessee's oil by applying the rules in this subpart to your disposition of the lessee's oil. (c... in this subpart to the lessee's disposition of its oil. (d) If the regulations in this subpart are... MANAGEMENT PRODUCT VALUATION Federal Oil § 206.100 What is the purpose of this subpart? (a) This subpart...

76 FR 5317 - Notice of Intent To Establish an Indian Oil Valuation Negotiated Rulemaking Committee

Federal Register 2010, 2011, 2012, 2013, 2014

2011-01-31

... adequate representation of the member's interest. Therefore, ONRR commits to pay the travel and per diem... then click search. Follow the instructions to submit public comments or nominations. The ONRR will post... significantly affected by the rule. Such interests are oil and gas companies who produce oil and pay royalties...

12 CFR 264b.4 - Gifts of minimal value.

Code of Federal Regulations, 2010 CFR

2010-01-01

... RULES REGARDING FOREIGN GIFTS AND DECORATIONS § 264b.4 Gifts of minimal value. (a) Board employees may... occur on the same day. (b) Board employees may determine at the time a gift is offered whether it is of... for valuation. (c) Disagreements over whether a gift is of minimal value will be resolved by an...

26 CFR 25.2702-2 - Definitions and valuation rules.

Code of Federal Regulations, 2010 CFR

2010-04-01

...-year term, the trust is to terminate and the trust corpus is to be paid to A's child. However, if A... term interest because a series of short-term rentals the aggregate duration of which equals the... individual both before and after the transfer in trust. In the case of the creation of a term interest, any...

26 CFR 25.2702-4 - Certain property treated as held in trust.

Code of Federal Regulations, 2010 CFR

2010-04-01

... (CONTINUED) ESTATE AND GIFT TAXES GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954 Special Valuation Rules § 25... and the terms of the lease conform to the value so determined. (c) Joint purchases. Solely for... paragraph (c), the amount of the individual's gift will not exceed the amount of consideration furnished by...

Ecosystem service valuations of mangrove ecosystems to inform decision making and future valuation exercises.

PubMed

Mukherjee, Nibedita; Sutherland, William J; Dicks, Lynn; Hugé, Jean; Koedam, Nico; Dahdouh-Guebas, Farid

2014-01-01

The valuation of ecosystem services is a complex process as it includes several dimensions (ecological, socio-cultural and economic) and not all of these can be quantified in monetary units. The aim of this paper is to conduct an ecosystem services valuation study for mangroves ecosystems, the results of which can be used to inform governance and management of mangroves. We used an expert-based participatory approach (the Delphi technique) to identify, categorize and rank the various ecosystem services provided by mangrove ecosystems at a global scale. Subsequently we looked for evidence in the existing ecosystem services literature for monetary valuations of these ecosystem service categories throughout the biogeographic distribution of mangroves. We then compared the relative ranking of ecosystem service categories between the monetary valuations and the expert based analysis. The experts identified 16 ecosystem service categories, six of which are not adequately represented in the literature. There was no significant correlation between the expert based valuation (the Delphi technique) and the economic valuation, indicating that the scope of valuation of ecosystem services needs to be broadened. Acknowledging this diversity in different valuation approaches, and developing methodological frameworks that foster the pluralism of values in ecosystem services research, are crucial for maintaining the credibility of ecosystem services valuation. To conclude, we use the findings of our dual approach to valuation to make recommendations on how to assess and manage the ecosystem services provided by mangrove ecosystems.

Ecosystem Service Valuations of Mangrove Ecosystems to Inform Decision Making and Future Valuation Exercises

PubMed Central

Mukherjee, Nibedita; Sutherland, William J.; Dicks, Lynn; Hugé, Jean; Koedam, Nico; Dahdouh-Guebas, Farid

2014-01-01

The valuation of ecosystem services is a complex process as it includes several dimensions (ecological, socio-cultural and economic) and not all of these can be quantified in monetary units. The aim of this paper is to conduct an ecosystem services valuation study for mangroves ecosystems, the results of which can be used to inform governance and management of mangroves. We used an expert-based participatory approach (the Delphi technique) to identify, categorize and rank the various ecosystem services provided by mangrove ecosystems at a global scale. Subsequently we looked for evidence in the existing ecosystem services literature for monetary valuations of these ecosystem service categories throughout the biogeographic distribution of mangroves. We then compared the relative ranking of ecosystem service categories between the monetary valuations and the expert based analysis. The experts identified 16 ecosystem service categories, six of which are not adequately represented in the literature. There was no significant correlation between the expert based valuation (the Delphi technique) and the economic valuation, indicating that the scope of valuation of ecosystem services needs to be broadened. Acknowledging this diversity in different valuation approaches, and developing methodological frameworks that foster the pluralism of values in ecosystem services research, are crucial for maintaining the credibility of ecosystem services valuation. To conclude, we use the findings of our dual approach to valuation to make recommendations on how to assess and manage the ecosystem services provided by mangrove ecosystems. PMID:25243852

Congruence or Discrepancy? Comparing Patients' Health Valuations and Physicians' Treatment Goals for Rehabilitation for Patients with Chronic Conditions

ERIC Educational Resources Information Center

Nagl, Michaela; Farin, Erik

2012-01-01

The aim of this study was to test the congruence of patients' health valuations and physicians' treatment goals for the rehabilitation of chronically ill patients. In addition, patient characteristics associated with greater or less congruence were to be determined. In a questionnaire study, patients' health valuations and physicians' goals were…

26 CFR 25.2702-1 - Special valuation rules in the case of transfers of interests in trust.

Code of Federal Regulations, 2011 CFR

2011-04-01

... the retained interest is not a qualified interest (as defined in § 25.2702-3), the retained interest... remainder interest in the trust qualifies for a deduction under section 2522. (4) Pooled income fund. A transfer of property to a pooled income fund (as defined in section 642(c)(5)). (5) Charitable lead trust...

26 CFR 1.1014-9 - Special rule with respect to DISC stock.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 995(c) as a dividend if the decedent had lived and sold such stock at its fair market value on the... DISC stock has a fair market value of $100. The estate does not elect the alternate valuation allowed... such stock from the decedent will take as a basis for such stock its fair market value at A's death...

Satisfaction, valuation, and views toward allocation of Vermont goose hunting opportunities

Treesearch

Ronald J. Glass; Thomas A. More; Thomas A. More

1992-01-01

A survey of goose hunters on a limited access area, Dead Creek Goose Management Area, in Vermont, was conducted during the fall of 1987. Respondents appeared well adapted to the structured hunting environment and agreed with most of the special rules and regulations. The current lottery system was favored over "first-come, first-served" and market pricing as...

Assessing quality of life in a clinical study on heart rehabilitation patients: how well do value sets based on given or experienced health states reflect patients' valuations?

PubMed

Leidl, Reiner; Schweikert, Bernd; Hahmann, Harry; Steinacker, Juergen M; Reitmeir, Peter

2016-03-22

Quality of life as an endpoint in a clinical study may be sensitive to the value set used to derive a single score. Focusing on patients' actual valuations in a clinical study, we compare different value sets for the EQ-5D-3L and assess how well they reproduce patients' reported results. A clinical study comparing inpatient (n = 98) and outpatient (n = 47) rehabilitation of patients after an acute coronary event is re-analyzed. Value sets include: 1. Given health states and time-trade-off valuation (GHS-TTO) rendering economic utilities; 2. Experienced health states and valuation by visual analog scale (EHS-VAS). Valuations are compared with patient-reported VAS rating. Accuracy is assessed by mean absolute error (MAE) and by Pearson's correlation ρ. External validity is tested by correlation with established MacNew global scores. Drivers of differences between value sets and VAS are analyzed using repeated measures regression. EHS-VAS had smaller MAEs and higher ρ in all patients and in the inpatient group, and correlated best with MacNew global score. Quality-adjusted survival was more accurately reflected by EHS-VAS. Younger, better educated patients reported lower VAS at admission than the EHS-based value set. EHS-based estimates were mostly able to reproduce patient-reported valuation. Economic utility measurement is conceptually different, produced results less strongly related to patients' reports, and resulted in about 20 % longer quality-adjusted survival. Decision makers should take into account the impact of choosing value sets on effectiveness results. For transferring the results of heart rehabilitation patients from another country or from another valuation method, the EHS-based value set offers a promising estimation option for those decision makers who prioritize patient-reported valuation. Yet, EHS-based estimates may not fully reflect patient-reported VAS in all situations.

Specific Contributions of Ventromedial, Anterior Cingulate, and Lateral Prefrontal Cortex for Attentional Selection and Stimulus Valuation

PubMed Central

Kaping, Daniel; Vinck, Martin; Hutchison, R. Matthew; Everling, Stefan; Womelsdorf, Thilo

2011-01-01

Attentional control ensures that neuronal processes prioritize the most relevant stimulus in a given environment. Controlling which stimulus is attended thus originates from neurons encoding the relevance of stimuli, i.e. their expected value, in hand with neurons encoding contextual information about stimulus locations, features, and rules that guide the conditional allocation of attention. Here, we examined how these distinct processes are encoded and integrated in macaque prefrontal cortex (PFC) by mapping their functional topographies at the time of attentional stimulus selection. We find confined clusters of neurons in ventromedial PFC (vmPFC) that predominantly convey stimulus valuation information during attention shifts. These valuation signals were topographically largely separated from neurons predicting the stimulus location to which attention covertly shifted, and which were evident across the complete medial-to-lateral extent of the PFC, encompassing anterior cingulate cortex (ACC), and lateral PFC (LPFC). LPFC responses showed particularly early-onset selectivity and primarily facilitated attention shifts to contralateral targets. Spatial selectivity within ACC was delayed and heterogeneous, with similar proportions of facilitated and suppressed responses during contralateral attention shifts. The integration of spatial and valuation signals about attentional target stimuli was observed in a confined cluster of neurons at the intersection of vmPFC, ACC, and LPFC. These results suggest that valuation processes reflecting stimulus-specific outcome predictions are recruited during covert attentional control. Value predictions and the spatial identification of attentional targets were conveyed by largely separate neuronal populations, but were integrated locally at the intersection of three major prefrontal areas, which may constitute a functional hub within the larger attentional control network. PMID:22215982

A Comparison of Japan and U.K. SF-6D Health-State Valuations Using a Non-Parametric Bayesian Method.

PubMed

Kharroubi, Samer A

2015-08-01

There is interest in the extent to which valuations of health may differ between different countries and cultures, but few studies have compared preference values of health states obtained in different countries. We sought to estimate and compare two directly elicited valuations for SF-6D health states between the Japan and U.K. general adult populations using Bayesian methods. We analysed data from two SF-6D valuation studies where, using similar standard gamble protocols, values for 241 and 249 states were elicited from representative samples of the Japan and U.K. general adult populations, respectively. We estimate a function applicable across both countries that explicitly accounts for the differences between them, and is estimated using data from both countries. The results suggest that differences in SF-6D health-state valuations between the Japan and U.K. general populations are potentially important. The magnitude of these country-specific differences in health-state valuation depended, however, in a complex way on the levels of individual dimensions. The new Bayesian non-parametric method is a powerful approach for analysing data from multiple nationalities or ethnic groups, to understand the differences between them and potentially to estimate the underlying utility functions more efficiently.

Comparing EQ-5D valuation studies: a systematic review and methodological reporting checklist.

PubMed

Xie, Feng; Gaebel, Kathryn; Perampaladas, Kuhan; Doble, Brett; Pullenayegum, Eleanor

2014-01-01

There has been a growing interest around the world in developing country-specific scoring algorithms for the EQ-5D. This study systematically reviews all existing EQ-5D valuation studies to highlight their strengths and limitations, explores heterogeneity in observed utilities using meta-regression, and proposes a methodological checklist for reporting EQ-5D valuation studies. . We searched Medline, EMBASE, the National Health Service Economic Evaluation Database (NHS EED) via Wiley's Cochrane Library, and Wiley's Health Economic Evaluation Database from inception through November 2012, as well as bibliographies of key papers and the EuroQol Plenary Meeting Proceedings from 1991 to 2012 for English-language reports of EQ-5D valuation studies. Two reviewers independently screened the titles and abstracts for relevance. Three reviewers performed data extraction and compared the characteristics and scoring algorithms developed in the included valuation studies. . Of the 31 studies included in the review, 19 used the time trade-off (TTO) technique, 10 used the visual analogue scale (VAS) technique, and 2 used both TTO and VAS. Most studies included respondents from the general population selected by random or quota sampling and used face-to-face interviews or postal surveys. Studies valued between 7 and 198 total states, with 1-23 states valued per respondent. Different model specifications have been proposed for scoring. Some sample or demographic factors, including gender, education, percentage urban population, and national health care expenditure, were associated with differences in observed utilities for moderate or severe health states. . EQ-5D valuation studies conducted to date have varied widely in their design and in the resulting scoring algorithms. Therefore, we propose the Checklist for Reporting Valuation Studies of the EQ-5D (CREATE) for those conducting valuation studies.

Social relationships as a major determinant in the valuation of health states.

PubMed

Frick, Ulrich; Irving, Hyacinth; Rehm, Jürgen

2012-03-01

To empirically determine the impact of the capacity to sustain social relationships on valuing health states. 68 clinical experts conducted a health state valuation exercise in five sites using pairwise comparison, ranking, and person trade-off as elicitation methods. 23,840 pairwise comparisons of a total of 379 health states were analyzed by conditional logistic regression. Social relationships had a clear monotonic association with perceived disability: the more limited the capacity to sustain social relationships, the more disabling the resulting health state valuations. The highest level of limitations with respect to social relationships was associated with slightly lower impact on health state valuations compared to the highest level of limitations in physical functioning. Social relationships showed an independent contribution to health state valuations and should be included in health state measures.

Cost approach of health care entity intangible asset valuation.

PubMed

Reilly, Robert F

2012-01-01

In the valuation synthesis and conclusion process, the analyst should consider the following question: Does the selected valuation approach(es) and method(s) accomplish the analyst's assignment? Also, does the selected valuation approach and method actually quantify the desired objective of the intangible asset analysis? The analyst should also consider if the selected valuation approach and method analyzes the appropriate bundle of legal rights. The analyst should consider if there were sufficient empirical data available to perform the selected valuation approach and method. The valuation synthesis should consider if there were sufficient data available to make the analyst comfortable with the value conclusion. The valuation analyst should consider if the selected approach and method will be understandable to the intended audience. In the valuation synthesis and conclusion, the analyst should also consider which approaches and methods deserve the greatest consideration with respect to the intangible asset's RUL. The intangible asset RUL is a consideration of each valuation approach. In the income approach, the RUL may affect the projection period for the intangible asset income subject to either yield capitalization or direct capitalization. In the cost approach, the RUL may affect the total amount of obsolescence, if any, from the estimate cost measure (that is, the intangible reproduction cost new or replacement cost new). In the market approach, the RUL may effect the selection, rejection, and/or adjustment of the comparable or guideline intangible asset sale and license transactional data. The experienced valuation analyst will use professional judgment to weight the various value indications to conclude a final intangible asset value, based on: The analyst's confidence in the quantity and quality of available data; The analyst's level of due diligence performed on that data; The relevance of the valuation method to the intangible asset life cycle stage and degree of marketability; and The degree of variation in the range of value indications. Valuation analysts value health care intangible assets for a number of reasons. In addition to regulatory compliance reasons, these reasons include various transaction, taxation, financing, litigation, accounting, bankruptcy, and planning purposes. The valuation analyst should consider all generally accepted intangible asset valuation approaches, methods, and procedures. Many valuation analysts are more familiar with market approach and income approach valuation methods. However, there are numerous instances when cost approach valuation methods are also applicable to the health care intangible asset valuation. This discussion summarized the analyst's procedures and considerations with regard to the cost approach. The cost approach is often applicable to the valuation of intangible assets in the health care industry. However, the cost approach is only applicable if the valuation analyst (1) appropriately considers all of the cost components and (2) appropriately identifies and quantifies all obsolescence allowances. Regardless of the health care intangible asset or the reason for the valuation, the analyst should be familiar with all generally accepted valuation approaches and methods. And, the valuation analyst should have a clear, convincing, and cogent rationale for (1) accepting each approach and method applied and (2) rejecting each approach and method not applied. That way, the valuation analyst will best achieve the purpose and objective of the health care intangible asset valuation.

[Animal welfare standards in ecological animal husbandry and the possibilities of their regulation].

PubMed

Sundrum, A

1993-02-01

There is an ethic claim to an increasing consideration of animal welfare in agricultural husbandry. To put this in practise requires the consumer's willingness to pay higher prices for food, produced according to animal's needs. A growing number of consumers is willing to do that. For the higher price the consumer expects a product-security, which guarantees processing standards by transparent criteria and inspection. Guidelines in organic agriculture regulate standards of animal welfare and environmental friendly production. Standards of animal welfare are far beyond those in protection of animals legislation. Nevertheless, they don't allow a general judgement about animal welfare in husbandry systems on organic ruled farms. A practicable and conclusive valuation-concept is necessary. It is referred to the animal needs index as a concept for valuation, which is already tested in practice.

Economic Valuation as an Instrument to Determine The Management Strategy of Baros Mangrove Forest, Bantul, Yogyakarta, Indonesia

NASA Astrophysics Data System (ADS)

Waluyo Jati, Irawan; Pribadi, Rudhi

2018-02-01

The Baros mangrove forest in Bantul Regency is now beginning to develop. Many government and private sectors programs are rolled out to support its development. The development of the Baros mangrove forest must be in accordance with the rules of conservation so that it will not damage the mangrove ecosystem. Mangrove forest has high economical and ecological value but is very vulnerable if lack of wisdom in maintaining, preserving and managing them. The involvement of government and other stakeholders are essential in determining management policies. Unawareness of society and the government to the importance of mangrove ecosystem can cause development of it becomes uncontrolled, consequently can destroy it. Mangrove forests are an important natural resource in coastal environments, and have three main functions: physical, biological, and economic functions. To quantify the functions of mangrove forests as the basis to determine the policy is required a research instrument called economic valuation. The approach of this study is the literature review from various studies before to perceive the influence of economic valuation in determining the management strategy of Baros mangrove forest in Bantul Regency, Yogyakarta, Indonesia.

Pricing risk and ambiguity: the effect of perspective taking.

PubMed

Trautmann, Stefan T; Schmidt, Ulrich

2012-01-01

In the valuation of uncertain prospects, a difference is often observed between selling and buying perspectives. This paper distinguishes between risk (known probabilities) and ambiguity (unknown probabilities) in decisions under uncertainty and shows that the valuation disparity increases under ambiguity compared to risk. It is found that both the comparative versus noncomparative evaluation of risky and ambiguous prospects and the uniqueness of the valuation perspective (either seller or buyer) moderate this increase in the disparity under ambiguity. The finding is consistent with recent theoretical accounts of pricing under uncertainty. We discuss implications for market behaviour and for the ambiguity paradigm as a research tool.

Reconsidering the use of rankings in the valuation of health states: a model for estimating cardinal values from ordinal data

PubMed Central

Salomon, Joshua A

2003-01-01

Background In survey studies on health-state valuations, ordinal ranking exercises often are used as precursors to other elicitation methods such as the time trade-off (TTO) or standard gamble, but the ranking data have not been used in deriving cardinal valuations. This study reconsiders the role of ordinal ranks in valuing health and introduces a new approach to estimate interval-scaled valuations based on aggregate ranking data. Methods Analyses were undertaken on data from a previously published general population survey study in the United Kingdom that included rankings and TTO values for hypothetical states described using the EQ-5D classification system. The EQ-5D includes five domains (mobility, self-care, usual activities, pain/discomfort and anxiety/depression) with three possible levels on each. Rank data were analysed using a random utility model, operationalized through conditional logit regression. In the statistical model, probabilities of observed rankings were related to the latent utilities of different health states, modeled as a linear function of EQ-5D domain scores, as in previously reported EQ-5D valuation functions. Predicted valuations based on the conditional logit model were compared to observed TTO values for the 42 states in the study and to predictions based on a model estimated directly from the TTO values. Models were evaluated using the intraclass correlation coefficient (ICC) between predictions and mean observations, and the root mean squared error of predictions at the individual level. Results Agreement between predicted valuations from the rank model and observed TTO values was very high, with an ICC of 0.97, only marginally lower than for predictions based on the model estimated directly from TTO values (ICC = 0.99). Individual-level errors were also comparable in the two models, with root mean squared errors of 0.503 and 0.496 for the rank-based and TTO-based predictions, respectively. Conclusions Modeling health-state valuations based on ordinal ranks can provide results that are similar to those obtained from more widely analyzed valuation techniques such as the TTO. The information content in aggregate ranking data is not currently exploited to full advantage. The possibility of estimating cardinal valuations from ordinal ranks could also simplify future data collection dramatically and facilitate wider empirical study of health-state valuations in diverse settings and population groups. PMID:14687419

Female adolescents with severe substance and conduct problems have substantially less brain gray matter volume.

PubMed

Dalwani, Manish S; McMahon, Mary Agnes; Mikulich-Gilbertson, Susan K; Young, Susan E; Regner, Michael F; Raymond, Kristen M; McWilliams, Shannon K; Banich, Marie T; Tanabe, Jody L; Crowley, Thomas J; Sakai, Joseph T

2015-01-01

Structural neuroimaging studies have demonstrated lower regional gray matter volume in adolescents with severe substance and conduct problems. These research studies, including ours, have generally focused on male-only or mixed-sex samples of adolescents with conduct and/or substance problems. Here we compare gray matter volume between female adolescents with severe substance and conduct problems and female healthy controls of similar ages. Female adolescents with severe substance and conduct problems will show significantly less gray matter volume in frontal regions critical to inhibition (i.e. dorsolateral prefrontal cortex and ventrolateral prefrontal cortex), conflict processing (i.e., anterior cingulate), valuation of expected outcomes (i.e., medial orbitofrontal cortex) and the dopamine reward system (i.e. striatum). We conducted whole-brain voxel-based morphometric comparison of structural MR images of 22 patients (14-18 years) with severe substance and conduct problems and 21 controls of similar age using statistical parametric mapping (SPM) and voxel-based morphometric (VBM8) toolbox. We tested group differences in regional gray matter volume with analyses of covariance, adjusting for age and IQ at p<0.05, corrected for multiple comparisons at whole-brain cluster-level threshold. Female adolescents with severe substance and conduct problems compared to controls showed significantly less gray matter volume in right dorsolateral prefrontal cortex, left ventrolateral prefrontal cortex, medial orbitofrontal cortex, anterior cingulate, bilateral somatosensory cortex, left supramarginal gyrus, and bilateral angular gyrus. Considering the entire brain, patients had 9.5% less overall gray matter volume compared to controls. Female adolescents with severe substance and conduct problems in comparison to similarly aged female healthy controls showed substantially lower gray matter volume in brain regions involved in inhibition, conflict processing, valuation of outcomes, decision-making, reward, risk-taking, and rule-breaking antisocial behavior.

Contextual and social influences on valuation and choice.

PubMed

Engelmann, Jan B; Hein, Grit

2013-01-01

To survive in our complex environment, we have to adapt to changing contexts. Prior research that investigated how contextual changes are processed in the human brain has demonstrated important modulatory influences on multiple cognitive processes underlying decision-making, including perceptual judgments, working memory, as well as cognitive and attentional control. However, in everyday life, the importance of context is even more obvious during economic and social interactions, which often have implicit rule sets that need to be recognized by a decision-maker. Here, we review recent evidence from an increasing number of studies in the fields of Neuroeconomics and Social Neuroscience that investigate the neurobiological basis of contextual effects on valuation and social choice. Contrary to the assumptions of rational choice theory, multiple contextual factors, such as the availability of alternative choice options, shifts in reference point, and social context, have been shown to modulate behavior, as well as signals in task-relevant neural networks. A consistent picture that emerges from neurobiological results is that valuation-related activity in striatum and ventromedial prefrontal cortex is highly context dependent during both social and nonsocial choice. Alternative approaches to model and explain choice behavior, such as comparison-based choice models, as well as implications for future research are discussed. Copyright © 2013 Elsevier B.V. All rights reserved.

Valuation Challenges of Riparian Restoration in a Dynamic Decision Support Context: What Could Possibly Go Wrong?

EPA Science Inventory

A dynamic simulation model is constructed to compare benefit-cost ratios of riparian restoration options for the Middle Rio Grande riparian corridor in Albuquerque, New Mexico, USA. The model is built from original choice experiment valuation data, regional benefit-transfer studi...

Benefit-based tree valuation

Treesearch

E.G. McPherson

2007-01-01

Benefit-based tree valuation provides alternative estimates of the fair and reasonable value of trees while illustrating the relative contribution of different benefit types. This study compared estimates of tree value obtained using cost- and benefit-based approaches. The cost-based approach used the Council of Landscape and Tree Appraisers trunk formula method, and...

Council tax valuation band of patient residence and clinical contacts in a general practice

PubMed Central

Beale, Norman; Taylor, Gordon; Straker-Cook, Dawn; Peart, Carole; Gwynne, Mark

2005-01-01

Background There is a dearth of data relating UK general practice workload to personal and social markers of individual patients. Aim To test whether there is a significant association between general practice patient contact rates and the council tax valuation band of their residential address. Design of study Cross-sectional analyses using data recorded, over 1 year, for over 3300 general practice patients. Setting One medium-sized group practice in an industrialised English market town. Method Face-to-face contacts between the patients and the doctors and nurses in the practice were compared by patient age, sex, registration period, distance from surgery, Underprivileged Area 8 (UPA8) score, and council tax valuation band. Results Patient sex, age, recent registration, distance from surgery, and council tax valuation band were each significantly associated with face-to-face contact rate in univariate analyses. UPA8 score was not significantly associated with contact rates. On multivariate testing, sex, age, recent registration, and council tax valuation band remained significantly associated with contact rates. The last is a new finding. Conclusion Council tax valuation bands predict contact rate in general practice; the lower the band, the higher the contact rate. Council tax valuation band could be a useful marker of workload that is linked to socioeconomic status. This is a pilot study and multipractice research is advocated. PMID:15667763

The Contingent Valuation Method in Public Libraries

ERIC Educational Resources Information Center

Chung, Hye-Kyung

2008-01-01

This study aims to present a new model measuring the economic value of public libraries, combining the dissonance minimizing (DM) and information bias minimizing (IBM) format in the contingent valuation (CV) surveys. The possible biases which are tied to the conventional CV surveys are reviewed. An empirical study is presented to compare the model…

Valuation Diagramming and Accounting of Transactive Energy Systems

DOE Office of Scientific and Technical Information (OSTI.GOV)

Makhmalbaf, Atefe; Hammerstrom, Donald J.; Huang, Qiuhua

Transactive energy (TE) systems support both economic and technical objectives of a power system including efficiency and reliability. TE systems utilize value-driven mechanisms to coordinate and balance responsive supply and demand in the power system. Economic performance of TE systems cannot be assessed without estimating their value. Estimating the potential value of transactive energy systems requires a systematic valuation methodology that can capture value exchanges among different stakeholders (i.e., actors) and ultimately estimate impact of one TE design and compare it against another one. Such a methodology can help decision makers choose the alternative that results in preferred outcomes. Thismore » paper presents a valuation methodology developed to assess value of TE systems. A TE use-case example is discussed, and metrics identified in the valuation process are quantified using a TE simulation program.« less

Valuation of Transactive Systems

DOE Office of Scientific and Technical Information (OSTI.GOV)

Hammerstrom, Donald J.; Corbin, Charles D.; Fernandez, Nicholas

2016-05-12

This is a final report from a project funded by the U.S. Department of Energy to formulate and test a methodology for valuation of systems where transaction-based mechanisms coordinate the exchange of value between the system’s actors. Today, the principal commodity being exchanged is electrical energy, and such mechanisms are called transactive energy systems. The authors strove to lay a foundation for meaningful valuations of transactive systems in general, and transactive energy systems as a special case. The word valuation is used in many different ways. This report proposes a valuation methodology that is inclusive of many types of valuations.more » Many will be familiar with cost-benefit valuations, in which both costs and benefits are assessed to determine whether the assets are worth their cost. Another set of valuation methods attempt to optimize an outcome using available resources, as is the case with integrated resource planning. In the end, this report’s methodology was most influenced by and most resembles the integrated-resource-planning approach. Regardless, we wish to enforce the premise that all valuations are comparative and should clearly specify a baseline scenario. A long, annotated list of prior valuation studies and valuation methodologies that influenced this report has been appended to this report. Much research is being conducted today concerning transactive systems, but only a handful of transactive system mechanisms have been formulated and field tested. They are found to be quite diverse, and the documentation of the various mechanisms is uneven in breadth and quality. It is therefore not adequate to simply assert that a valuation scenario includes a transactive system; certain characteristics and qualities of the chosen transactive system mechanism must be defined and stated. The report lists and discusses most of the known transactive system mechanisms. It offers a set of questions that may be used to help specify important characteristics of the transactive system mechanisms, which should be conveyed along with other valuation results. A valuation methodology is proposed. Some abstraction is necessarily retained so that the methodology may be applied for the many purposes of today’s valuations and across grid, building, societal, and other domains. The report’s methodology advocates separation of operational timescales from long-term growth timescales. Operational models are defined as the models that inform impacts within the relatively short, often yearlong, operational time periods. Growth models define how the scenarios evolve from one operational period to the next (e.g., from year to year). We believe the recommended methodology is a critical step toward collaborative community platforms, where analysts and decision makers alike could contribute and borrow content within their expertise. The report then asks, what is unique about valuations when systems become coordinated by transactive systems? In answer, accurate valuations of transactive systems require careful adherence to the dynamic interaction between a system’s responsive elements and the system’s operational objectives. In every transactive system mechanism, elements respond to incentives that become revealed to them, and certain operational objectives become explicitly incentivized by the transactive system mechanism. The transactive system mechanisms define the important coupling between the responsive elements and the system’s objectives.« less

A comparison of Hong Kong and United Kingdom SF-6D health states valuations using a nonparametric Bayesian method.

PubMed

Kharroubi, Samer A; Brazier, John E; McGhee, Sarah

2014-06-01

There is interest in the extent to which valuations of health may differ between different countries and cultures, but few studies have compared preference values of health states obtained in different countries. The present study applies a nonparametric model to estimate and compare two HK and UK standard gamble values for six-dimensional health state short form (derived from short-form 36 health survey) (SF-6D) health states using Bayesian methods. The data set is the HK and UK SF-6D valuation studies in which two samples of 197 and 249 states defined by the SF-6D were valued by representative samples of the HK and UK general populations, respectively, both using the standard gamble technique. We estimated a function applicable across both countries that explicitly accounts for the differences between them, and is estimated using the data from both countries. The results suggest that differences in SF-6D health state valuations between the UK and HK general populations are potentially important. In particular, the valuations of Hong Kong were meaningfully higher than those of the United Kingdom for most of the selected SF-6D health states. The magnitude of these country-specific differences in health state valuation depended, however, in a complex way on the levels of individual dimensions. The new Bayesian nonparametric method is a powerful approach for analyzing data from multiple nationalities or ethnic groups to understand the differences between them and potentially to estimate the underlying utility functions more efficiently. Copyright © 2014 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

Ecosystem Service Valuation Assessments for Protected Area Management: A Case Study Comparing Methods Using Different Land Cover Classification and Valuation Approaches

PubMed Central

Whitham, Charlotte E. L.

2015-01-01

Accurate and spatially-appropriate ecosystem service valuations are vital for decision-makers and land managers. Many approaches for estimating ecosystem service value (ESV) exist, but their appropriateness under specific conditions or logistical limitations is not uniform. The most accurate techniques are therefore not always adopted. Six different assessment approaches were used to estimate ESV for a National Nature Reserve in southwest China, across different management zones. These approaches incorporated two different land-use land cover (LULC) maps and development of three economic valuation techniques, using globally or locally-derived data. The differences in ESV across management zones for the six approaches were largely influenced by the classifications of forest and farmland and how they corresponded with valuation coefficients. With realistic limits on access to time, data, skills and resources, and using acquired estimates from globally-relevant sources, the Buffer zone was estimated as the most valuable (2.494 million ± 1.371 million CNY yr-1 km-2) and the Non-protected zone as the least valuable (770,000 ± 4,600 CNY yr-1 km-2). However, for both LULC maps, when using the locally-based and more time and skill-intensive valuation approaches, this pattern was generally reversed. This paper provides a detailed practical example of how ESV can differ widely depending on the availability and appropriateness of LULC maps and valuation approaches used, highlighting pitfalls for the managers of protected areas. PMID:26086191

Normalized value coding explains dynamic adaptation in the human valuation process.

PubMed

Khaw, Mel W; Glimcher, Paul W; Louie, Kenway

2017-11-28

The notion of subjective value is central to choice theories in ecology, economics, and psychology, serving as an integrated decision variable by which options are compared. Subjective value is often assumed to be an absolute quantity, determined in a static manner by the properties of an individual option. Recent neurobiological studies, however, have shown that neural value coding dynamically adapts to the statistics of the recent reward environment, introducing an intrinsic temporal context dependence into the neural representation of value. Whether valuation exhibits this kind of dynamic adaptation at the behavioral level is unknown. Here, we show that the valuation process in human subjects adapts to the history of previous values, with current valuations varying inversely with the average value of recently observed items. The dynamics of this adaptive valuation are captured by divisive normalization, linking these temporal context effects to spatial context effects in decision making as well as spatial and temporal context effects in perception. These findings suggest that adaptation is a universal feature of neural information processing and offer a unifying explanation for contextual phenomena in fields ranging from visual psychophysics to economic choice.

Neuroscience and approach/avoidance personality traits: a two stage (valuation-motivation) approach.

PubMed

Corr, Philip J; McNaughton, Neil

2012-11-01

Many personality theories link specific traits to the sensitivities of the neural systems that control approach and avoidance. But there is no consensus on the nature of these systems. Here we combine recent advances in economics and neuroscience to provide a more solid foundation for a neuroscience of approach/avoidance personality. We propose a two-stage integration of valuation (loss/gain) sensitivities with motivational (approach/avoidance/conflict) sensitivities. Our key conclusions are: (1) that valuation of appetitive and aversive events (e.g. gain and loss as studied by behavioural economists) is an independent perceptual input stage--with the economic phenomenon of loss aversion resulting from greater negative valuation sensitivity compared to positive valuation sensitivity; (2) that valuation of an appetitive stimulus then interacts with a contingency of presentation or omission to generate a motivational 'attractor' or 'repulsor', respectively (vice versa for an aversive stimulus); (3) the resultant behavioural tendencies to approach or avoid have distinct sensitivities to those of the valuation systems; (4) while attractors and repulsors can reinforce new responses they also, more usually, elicit innate or previously conditioned responses and so the perception/valuation-motivation/action complex is best characterised as acting as a 'reinforcer' not a 'reinforcement'; and (5) approach-avoidance conflict must be viewed as activating a third motivation system that is distinct from the basic approach and avoidance systems. We provide examples of methods of assessing each of the constructs within approach-avoidance theories and of linking these constructs to personality measures. We sketch a preliminary five-element reinforcer sensitivity theory (RST-5) as a first step in the integration of existing specific approach-avoidance theories into a coherent neuroscience of personality. Copyright © 2012 Elsevier Ltd. All rights reserved.

Mergers and acquisitions: new arrangements in health care. Part 1.

PubMed

Grant, E A

1988-02-01

Mergers and acquisitions are assuming a more important role in the healthcare industry today. These transactions require various issues be considered, such as valuation, capital planning, and so forth. In this article, the first in a five-part series on mergers and acquisitions, the fundamental methods and techniques of valuation are discussed. Some of these valuation methods, including comparative market transactions and free cash flow, are explained and examples are used to help potential purchasers and sellers to determine an organization's true value. Other articles in this series will include legal issues, tax implications, purchase investigations, and capital planning for mergers and acquisitions.

Differences between individual and societal health state valuations: any link with personality?

PubMed

Chapman, Benjamin P; Franks, Peter; Duberstein, Paul R; Jerant, Anthony

2009-08-01

The concept of "adaptation" has been proposed to account for differences between individual and societal valuations of specific health states in patients with chronic diseases. Little is known about psychological indices of adaptational capacity, which may predict differences in individual and societal valuations of health states. We investigated whether such differences were partially explained by personality traits in chronic disease patients. Analysis of baseline data of randomized controlled trial. Three hundred seventy patients with chronic disease. The NEO-five factor inventory measure of personality, EuroQoL-5D (EQ-5D) societal-based, and the EQ visual analogue scale individually-based measures of health valuation. Regression analyses modeled Dev, a measure of difference between the EQ-Visual Analogue Scale and EQ-5D, as a function of personality traits, sociodemographic factors, and chronic diseases. Individual valuations were significantly and clinically higher than societal valuations among patients in the second and third quartile of conscientiousness (Dev = 0.08, P = 0.01); among covariates, only depression (Dev = -0.04, P = 0.046) was also associated with Dev. Compared with societal valuations of a given health state, persons at higher quartiles of conscientiousness report less disutility associated with poor health. The effect is roughly twice that of some estimates of minimally important clinical differences on the EQ-5D and of depression. Although useful at the aggregate level, societal preference measures may systematically undervalue the health states of more conscientious individuals. Future work should examine the impact this has on individual patient outcome evaluation in clinical studies.

Differences Between Individual and Societal Health State Valuations

PubMed Central

Chapman, Benjamin P.; Franks, Peter; Duberstein, Paul R.; Jerant, Anthony

2009-01-01

Objective The concept of “adaptation” has been proposed to account for differences between individual and societal valuations of specific health states in patients with chronic diseases. Little is known about psychological indices of adaptational capacity, which may predict differences in individual and societal valuations of health states. We investigated whether such differences were partially explained by personality traits in chronic disease patients. Research Design Analysis of baseline data of randomized controlled trial. Subjects Three hundred seventy patients with chronic disease. Measures The NEO-five factor inventory measure of personality, EuroQoL-5D (EQ-5D) societal-based, and the EQ visual analogue scale individually-based measures of health valuation. Results Regression analyses modeled Dev, a measure of difference between the EQ-Visual Analogue Scale and EQ-5D, as a function of personality traits, sociodemographic factors, and chronic diseases. Individual valuations were significantly and clinically higher than societal valuations among patients in the second and third quartile of conscientiousness (Dev = 0.08, P = 0.01); among covariates, only depression (Dev = -0.04, P = 0.046) was also associated with Dev. Conclusion Compared with societal valuations of a given health state, persons at higher quartiles of conscientiousness report less disutility associated with poor health. The effect is roughly twice that of some estimates of minimally important clinical differences on the EQ-5D and of depression. Although useful at the aggregate level, societal preference measures may systematically undervalue the health states of more conscientious individuals. Future work should examine the impact this has on individual patient outcome evaluation in clinical studies. PMID:19543121

How can we value an environmental asset that very few have visited or heard of? Lessons learned from applying contingent and inferred valuation in an Australian wetlands case study.

PubMed

Gregg, Daniel; Wheeler, Sarah Ann

2018-08-15

To date, the majority of environmental assets studied in the economic valuation literature clearly have high amenity and recreational use values. However there are many cases where small, but nevertheless unique and important, ecosystems survive as islands amongst large areas of modified, productive, or urban, landscapes. Development encroaches on the landscape and as urban landscapes become more concentrated these types of conservation islands will become increasingly more important. Previous experience with economic valuation suggests that lower total values for smaller contributions to conservation are more liable to be swamped by survey and hypothetical bias measures. Hence there needs to be more understanding of approaches to economic valuation for small and isolated environmental assets, in particular regarding controlling stated preference biases. This study applied the recently developed method of Inferred Valuation (IV) to a small private wetland in South-East Australia, and compared willingness to pay values with estimates from a standard Contingent Valuation (CV) approach. We found that hypothetical bias did seem to be slightly lower with the IV method. However, other methods such as the use of log-normal transformations and median measures, significantly mitigate apparent hypothetical biases and are easier to apply and allow use of the well-tested CV method. Copyright © 2018 Elsevier Ltd. All rights reserved.

Religiousness and Levels of Hazardous Alcohol Use: A Latent Profile Analysis.

PubMed

Jankowski, Peter J; Hardy, Sam A; Zamboanga, Byron L; Ham, Lindsay S; Schwartz, Seth J; Kim, Su Yeong; Forthun, Larry F; Bersamin, Melina M; Donovan, Roxanne A; Whitbourne, Susan Krauss; Hurley, Eric A; Cano, Miguel Ángel

2015-10-01

Prior person-centered research has consistently identified a subgroup of highly religious participants that uses significantly less alcohol when compared to the other subgroups. The construct of religious motivation is absent from existing examinations of the nuanced combinations of religiousness dimensions within persons, and alcohol expectancy valuations have yet to be included as outcome variables. Variable-centered approaches have found religious motivation and alcohol expectancy valuations to play a protective role against individuals' hazardous alcohol use. The current study examined latent religiousness profiles and hazardous alcohol use in a large, multisite sample of ethnically diverse college students. The sample consisted of 7412 college students aged 18-25 (M age = 19.77, SD age = 1.61; 75% female; 61% European American). Three latent profiles were derived from measures of religious involvement, salience, and religious motivations: Quest-Intrinsic Religiousness (highest levels of salience, involvement, and quest and intrinsic motivations; lowest level of extrinsic motivation), Moderate Religiousness (intermediate levels of salience, involvement, and motivations) and Extrinsic Religiousness (lowest levels of salience, involvement, and quest and intrinsic motivations; highest level of extrinsic motivation). The Quest-Intrinsic Religiousness profile scored significantly lower on hazardous alcohol use, positive expectancy outcomes, positive expectancy valuations, and negative expectancy valuations, and significantly higher on negative expectancy outcomes, compared to the other two profiles. The Extrinsic and Moderate Religiousness profiles did not differ significantly on positive expectancy outcomes, negative expectancy outcomes, negative expectancy valuations, or hazardous alcohol use. The results advance existing research by demonstrating that the protective influence of religiousness on college students' hazardous alcohol use may involve high levels on both quest and intrinsic religious motivation.

Serious child and adolescent behaviour disorders; a valuation study by professionals, youth and parents.

PubMed

Vermeulen, Karin M; Jansen, Daniëlle E M C; Buskens, Erik; Knorth, Erik J; Reijneveld, Sijmen A

2017-06-02

In child and youth care, quantitative estimates of the impact of serious behaviour problems have not yet been made. Such input is needed to support decision making on investments in treatment. The aim of this paper was to elicit valuations of social and conduct disorders in children and adolescents from three different perspectives: professionals, youth, and parents. We obtained valuations from 25 youth care professionals, 50 children (age 9-10) without serious behaviour problems and 36 adolescents (age 16-17) with and without serious behaviour disorders, and 46 parents with children in the aforementioned age categories. Valuations were estimated from 18 descriptions of behaviour disorders in youth aged 9 and 15 years. Descriptions included Oppositional Defiant Disorder (ODD), Conduct Disorder (CD), and Disruptive Behaviour Disorder (DBD). Comorbid conditions were Attention Deficit Hyperactivity Disorder and substance abuse. Valuations were obtained with the EuroQol questionnaire (EQ-5D-3 L) and a visual analogue scale (VAS). Valuations were generally severe; problems were by and large reported to worsen quality of life by 50% compared to being fully healthy. Professionals regarded DBD with substance abuse as most severe (VAS values 0.41 for children, and 0.43 for adolescents, i.e. less than half of normal). They rated ODD as least severe (VAS values 0.58 for children, 0.59 for adolescents). Children, adolescents and parents gave lower valuations than professionals, and had a wider range of scores, particularly at the lower end of the scale. Behaviour disorders pose a formidable burden from the perspectives of professionals as well as children, adolescents and parents. These results may support medical decision making to set priorities with regard to prevention and treatment based on perceived severity.

Valuation of financial models with non-linear state spaces

NASA Astrophysics Data System (ADS)

Webber, Nick

2001-02-01

A common assumption in valuation models for derivative securities is that the underlying state variables take values in a linear state space. We discuss numerical implementation issues in an interest rate model with a simple non-linear state space, formulating and comparing Monte Carlo, finite difference and lattice numerical solution methods. We conclude that, at least in low dimensional spaces, non-linear interest rate models may be viable.

One period coupon bond valuation with revised first passage time approach and the application in Indonesian corporate bond

NASA Astrophysics Data System (ADS)

Maruddani, Di Asih I.; Rosadi, Dedi; Gunardic, Abdurakhman

2015-02-01

The value of a corporate bond is conventionally expressed in terms of zero coupon bond. In practice, the most common form of debt instrument is coupon bond and allows early default before maturity as safety covenant for the bondholder. This paper study valuation for one period coupon bond, a coupon bond that only give one time coupon at the bond period. It assumes that the model give bondholder the right to reorganize a firm if its value falls below a given barrier. Revised first passage time approach is applied for default time rule. As a result, formulas of equity, liability, and probability of default is derived for this specified model. Straightforward integration under risk neutral pricing is used for deriving those formulas. For the application, bond of Bank Rakyat Indonesia (BRI) as one of the largest bank in Indonesia is analyzed. R computing show that value of the equity is IDR 453.724.549.000.000, the liability is IDR 2.657.394.000.000, and the probability if default is 5.645305E-47 %.

Monte Carlo methods for multidimensional integration for European option pricing

NASA Astrophysics Data System (ADS)

Todorov, V.; Dimov, I. T.

2016-10-01

In this paper, we illustrate examples of highly accurate Monte Carlo and quasi-Monte Carlo methods for multiple integrals related to the evaluation of European style options. The idea is that the value of the option is formulated in terms of the expectation of some random variable; then the average of independent samples of this random variable is used to estimate the value of the option. First we obtain an integral representation for the value of the option using the risk neutral valuation formula. Then with an appropriations change of the constants we obtain a multidimensional integral over the unit hypercube of the corresponding dimensionality. Then we compare a specific type of lattice rules over one of the best low discrepancy sequence of Sobol for numerical integration. Quasi-Monte Carlo methods are compared with Adaptive and Crude Monte Carlo techniques for solving the problem. The four approaches are completely different thus it is a question of interest to know which one of them outperforms the other for evaluation multidimensional integrals in finance. Some of the advantages and disadvantages of the developed algorithms are discussed.

Congruence or discrepancy? Comparing patients' health valuations and physicians' treatment goals for rehabilitation for patients with chronic conditions.

PubMed

Nagl, Michaela; Farin, Erik

2012-03-01

The aim of this study was to test the congruence of patients' health valuations and physicians' treatment goals for the rehabilitation of chronically ill patients. In addition, patient characteristics associated with greater or less congruence were to be determined. In a questionnaire study, patients' health valuations and physicians' goals were assessed in three chronic conditions [breast cancer (BC), chronic ischemic heart disease (CIHD), and chronic back pain (CBP)] using a ranking method. Sociodemographic variables and health-related quality of life were assessed as patient-related factors that influence congruence. Congruence was determined at the group (Spearman's ρ) and individual levels (percentage of congruence). Patient-related influencing factors were calculated after a simple imputation using multiple logistic regression analysis. At the group level, there were often only low correlations. The mean percentage of congruence was 34.7% (BC), 48.5% (CIHD), and 31.9% (CBP). Patients with BC or CIHD who have a higher level of education showed greater congruence. Our results indicate some high discrepancy rates between physicians' treatment goals and patients' health valuations. It is possible that patients have preferences that do not correspond well with realistic rehabilitation goals or that physicians do not take patients' individual health valuations sufficiently into consideration when setting goals.

The Value of Satellite Early Warning Systems in Kenya and Guatemala: Results and Lessons Learned from Contingent Valuation and Loss Avoidance Approaches

NASA Astrophysics Data System (ADS)

Morrison, I.; Berenter, J. S.

2017-12-01

SERVIR, the joint USAID and NASA initiative, conducted two studies to assess the value of two distinctly different Early Warning Systems (EWS) in Guatemala and Kenya. Each study applied a unique method to asses EWS value. The evaluation team conducted a Contingent Valuation (CV) choice experiment to measure the value of a near-real time VIIRS and MODIS-based hot-spot mapping tool for forest management professionals targeting seasonal forest fires in Northern Guatemala. The team also conducted a survey-based Damage and Loss Avoidance (DaLA) exercise to calculate the monetary benefits of a MODIS-derived frost forecasting system for farmers in the tea-growing highlands of Kenya. This presentation compares and contrasts the use and utility of these two valuation approaches to assess EWS value. Although interest in these methods is growing, few empirical studies have applied them to benefit and value assessment for EWS. Furthermore, the application of CV and DaLA methods is much less common outside of the developed world. Empirical findings from these two studies indicated significant value for two substantially different beneficiary groups: natural resource management specialists and smallholder tea farmers. Additionally, the valuation processes generated secondary information that can help improve the format and delivery of both types of EWS outputs for user and beneficiary communities in Kenya and Guatemala. Based on lessons learned from the two studies, this presentation will also compare and contrast the methodological and logistical advantages, challenges, and limitations in applying the CV and DaLA methods in developing countries. By reviewing these two valuation methods alongside each other, the authors will outline conditions where they can be applied - individually or jointly - to other early warning systems and delivery contexts.

Valuing EQ-5D-5L health states 'in context' using a discrete choice experiment.

PubMed

Cole, Amanda; Shah, Koonal; Mulhern, Brendan; Feng, Yan; Devlin, Nancy

2018-05-01

In health state valuation studies, health states are typically presented as a series of sentences, each describing a health dimension and severity 'level'. Differences in the severity levels can be subtle, and confusion about which is 'worse' can lead to logically inconsistent valuation data. A solution could be to mimic the way patients self-report health, where the ordinal structure of levels is clear. We develop and test the feasibility of presenting EQ-5D-5L health states in the 'context' of the entire EQ-5D-5L descriptive system. An online two-arm discrete choice experiment was conducted in the UK (n = 993). Respondents were randomly allocated to a control (standard presentation) or 'context' arm. Each respondent completed 16 paired comparison tasks and feedback questions about the tasks. Differences across arms were assessed using regression analyses. Presenting health states 'in context' can significantly reduce the selection of logically dominated health states, particularly for labels 'severe' and 'extreme' (χ 2  = 46.02, p < 0.001). Preferences differ significantly between arms (likelihood ratio statistic = 42.00, p < 0.05). Comparing conditional logit modeling results, coefficients are ordered as expected for both arms, but the magnitude of decrements between levels is larger for the context arm. Health state presentation is a key consideration in the design of valuation studies. Presenting health states 'in context' affects valuation data and reduces logical inconsistencies. Our results could have implications for other valuation tasks such as time trade-off, and for the valuation of other preference-based measures.

Valuation of preference-based measures: can existing preference data be used to generate better estimates?

PubMed

Kharroubi, Samer A

2018-06-05

Experimental studies to develop valuations of health state descriptive systems like EQ-5D or SF-6D need to be conducted in different countries, because social and cultural differences are likely to lead to systematically different valuations. There is a scope utilize the evidence in one country to help with the design and the analysis of a study in another, for this to enable the generation of utility estimates of the second country much more precisely than would have been possible when collecting and analyzing the country's data alone. We analyze SF-6D valuation data elicited from representative samples corresponding to the Hong Kong (HK) and United Kingdom (UK) general adult populations through the use of the standard gamble technique to value 197 and 249 health states respectively. We apply a nonparametric Bayesian model to estimate a HK value set using the UK dataset as informative prior to improve its estimation. Estimates are compared to a HK value set estimated using HK values alone using mean predictions and root mean square error. The novel method of modelling utility functions permitted the UK valuations to contribute significant prior information to the Hong Kong analysis. The results suggest that using HK data alongside the existing UK data produces HK utility estimates better than using the HK study data by itself. The promising results suggest that existing preference data could be combined with valuation study in a new country to generate preference weights, making own country value sets more achievable for low and middle income countries. Further research is encouraged.

Social impact analysis: monetary valuation

USGS Publications Warehouse

Wainger, Lisa A.; Johnston, Robert J.; Bagstad, Kenneth J.; Casey, Frank; Vegh, Tibor

2014-01-01

This section provides basic guidance for using and conducting economic valuation, including criteria for judging whether valuation is appropriate for supporting decisions. It provides an introduction to the economic techniques used to measure changes in social welfare and describes which methods may be most appropriate for use in valuing particular ecosystem services. Rather than providing comprehensive valuation instructions,it directs readers to additional resources.More generally, it establishes that the valuation of ecosystem services is grounded in a long history of non-market valuation and discusses how ecosystem services valuation can be conducted within established economic theory and techniques.

Reasons to value the health care intangible asset valuation.

PubMed

Reilly, Robert F

2012-01-01

There are numerous individual reasons to conduct a health care intangible asset valuation. This discussion summarized many of these reasons and considered the common categories of these individual reasons. Understanding the reason for the intangible asset analysis is an important prerequisite to conducting the valuation, both for the analyst and the health care owner/operator. This is because an intangible asset valuation may not be the type of analysis that the owner/operator really needs. Rather, the owner/operator may really need an economic damages measurement, a license royalty rate analysis, an intercompany transfer price study, a commercialization potential evaluation, or some other type of intangible asset analysis. In addition, a clear definition of the reason for the valuation will allow the analyst to understand if (1) any specific analytical guidelines, procedures, or regulations apply and (2) any specific reporting requirement applies. For example, intangible asset valuations prepared for fair value accounting purposes should meet specific ASC 820 fair value accounting guidance. Intangible asset valuations performed for intercompany transfer price tax purposes should comply with the guidance provided in the Section 482 regulations. Likewise, intangible asset valuations prepared for Section 170 charitable contribution purposes should comply with specific reporting requirements. The individual reasons for the health care intangible asset valuation may influence the standard of value applied, the valuation date selected, the valuation approaches and methods applied, the form and format of valuation report prepared, and even the type of professional employed to perform the valuation.

Revealed and stated preference valuation and transfer: A within-sample comparison of water quality improvement values

NASA Astrophysics Data System (ADS)

Ferrini, Silvia; Schaafsma, Marije; Bateman, Ian

2014-06-01

Benefit transfer (BT) methods are becoming increasingly important for environmental policy, but the empirical findings regarding transfer validity are mixed. A novel valuation survey was designed to obtain both stated preference (SP) and revealed preference (RP) data concerning river water quality values from a large sample of households. Both dichotomous choice and payment card contingent valuation (CV) and travel cost (TC) data were collected. Resulting valuations were directly compared and used for BT analyses using both unit value and function transfer approaches. WTP estimates are found to pass the convergence validity test. BT results show that the CV data produce lower transfer errors, below 20% for both unit value and function transfer, than TC data especially when using function transfer. Further, comparison of WTP estimates suggests that in all cases, differences between methods are larger than differences between study areas. Results show that when multiple studies are available, using welfare estimates from the same area but based on a different method consistently results in larger errors than transfers across space keeping the method constant.

Altered subjective reward valuation among drug-deprived heavy marijuana users: Aversion to uncertainty

PubMed Central

Hefner, Kathryn R.; Starr, Mark. J.; Curtin, John. J.

2015-01-01

Marijuana is the most commonly used illicit drug in the United States and its use is rising. Nonetheless, scientific efforts to clarify the risk for addiction and other harm associated with marijuana use have been lacking. Maladaptive decision-making is a cardinal feature of addiction that is likely to emerge in heavy users. In particular, distorted subjective reward valuation related to homeostatic or allostatic processes has been implicated for many drugs of abuse. Selective changes in responses to uncertainty have been observed in response to intoxication and deprivation from various drugs of abuse. To assess for these potential neuroadaptive changes in reward valuation associated with marijuana deprivation, we examined the subjective value of uncertain and certain rewards among deprived and non-deprived heavy marijuana users in a behavioral economics decision-making task. Deprived users displayed reduced valuation of uncertain rewards, particularly when these rewards were more objectively valuable. This uncertainty aversion increased with increasing quantity of marijuana use. These results suggest comparable decision-making vulnerability from marijuana use as other drugs of abuse, and highlights targets for intervention. PMID:26595464

26 CFR 20.2031-0 - Table of contents.

Code of Federal Regulations, 2010 CFR

2010-04-01

... under section 2031. § 20.2031-1Definition of gross estate; valuation of property. § 20.2031-2Valuation... contracts; valuation of shares in an open-end investment company. § 20.2031-9Valuation of other property... term of years, and remainder or reversionary interests for estates of decedents for which the valuation...

26 CFR 20.2031-9 - Valuation of other property.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Valuation of other property. 20.2031-9 Section... Valuation of other property. The valuation of any property not specifically described in §§ 20.2031-2 to 20... future interest in property not subject to valuation in accordance with the actuarial principles set...

Subjective Well-Being Approach to Environmental Valuation: Evidence for Greenhouse Gas Emissions

ERIC Educational Resources Information Center

Beja, Edsel L., Jr.

2012-01-01

The subjective well-being approach to environmental valuation is applied to analyze the valuation of greenhouse gas emissions with a fairness-adjustment in the valuation exercise. Results indicate that industrialized countries have high willingness-to-pay to reduce emissions. Developing countries differ in their valuations. Results indicate that…

26 CFR 1.430(g)-1 - Valuation date and valuation of plan assets.

Code of Federal Regulations, 2011 CFR

2011-04-01

....430(g)-1 Section 1.430(g)-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES (CONTINUED) Certain Stock Options § 1.430(g)-1 Valuation date... plan's valuation date and the valuation of a plan's assets for a plan year under section 430(g...

26 CFR 1.430(g)-1 - Valuation date and valuation of plan assets.

Code of Federal Regulations, 2013 CFR

2013-04-01

....430(g)-1 Section 1.430(g)-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES (CONTINUED) Certain Stock Options § 1.430(g)-1 Valuation date... plan's valuation date and the valuation of a plan's assets for a plan year under section 430(g...

26 CFR 1.430(g)-1 - Valuation date and valuation of plan assets.

Code of Federal Regulations, 2014 CFR

2014-04-01

....430(g)-1 Section 1.430(g)-1 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES (CONTINUED) Certain Stock Options § 1.430(g)-1 Valuation date... plan's valuation date and the valuation of a plan's assets for a plan year under section 430(g...

Heterogeneity and Cooperation: The Role of Capability and Valuation on Public Goods Provision

PubMed Central

Kolle, Felix

2018-01-01

We experimentally investigate the effects of two different sources of heterogeneity - capability and valuation - on the provision public goods when punishment is possible or not. We find that compared to homogeneous groups, asymmetric valuations for the public good have negative effects on cooperation and its enforcement through informal sanctions. Asymmetric capabilities in providing the public good, in contrast, have a positive and stabilizing effect on voluntary contributions. The main reason for these results are the different externalities contributions have on the other group members’ payoffs affecting individuals’ willingness to cooperate. We thus provide evidence that it is not the asymmetric nature of groups per se that facilitates or impedes collective action, but that it is rather the nature of asymmetry that determines the degree of cooperation and the level of public good provision. PMID:29367794

43 CFR 30.264 - When must BIA furnish a valuation of a decedent's interests?

Code of Federal Regulations, 2010 CFR

2010-10-01

... 43 Public Lands: Interior 1 2010-10-01 2010-10-01 false When must BIA furnish a valuation of a... BIA furnish a valuation of a decedent's interests? (a) BIA must furnish a valuation report of the..., BIA must furnish a valuation report in the probate file when it is submitted to OHA. Interested...

A social preference valuations set for EQ-5D health states in Flanders, Belgium.

PubMed

Cleemput, Irina

2010-04-01

This study aimed at deriving a preference valuation set for EQ-5D health states from the general Flemish public in Belgium. A EuroQol valuation instrument with 16 health states to be valued on a visual analogue scale was sent to a random sample of 2,754 adults. The initial response rate was 35%. Eventually, 548 (20%) respondents provided useable valuations for modeling. Valuations for 245 health states were modeled using a random effects model. The selection of the model was based on two criteria: health state valuations must be consistent, and the difference with the directly observed valuations must be small. A model including a value decrement if any health dimension of the EQ-5D is on the worst level was selected to construct the social health state valuation set. A comparison with health state valuations from other countries showed similarities, especially with those from New Zealand. The use of a single preference valuation set across different health economic evaluations within a country is highly preferable to increase their usability for policy makers. This study contributes to the standardization of outcome measurement in economic evaluations in Belgium.

Willingness to pay for compulsory deworming of pets entering Sweden to prevent introduction of Echinoccoccus multilocularis.

PubMed

Höjgård, Sören; Sundström, Kristian; Christensson, Dan; Hallgren, Gunilla; Hjertqvist, Marika; Wallensten, Anders; Vågsholm, Ivar; Wahlström, Helene

2012-09-01

To investigate if the Swedish entry rules for pets to prevent the introduction of Echinococcus multilocularis (EM) are proportional (i.e. that their costs do not exceed the value of their benefits), a dichotomous-choice contingent valuation study was conducted. The study was performed before the first case of EM was detected in Sweden in February 2011. About 5000, randomly selected, Swedish citizens were invited to participate and 2192 of them (44%) accepted to do so. Missing information on whether or not one would accept to pay for keeping the rules for 143 respondents resulted in 2049 observations (41%) available for the estimation of willingness to pay (WTP), and missing information on personal characteristics for another 274 respondents reduced the number of observations available for sensitivity analysis to 1775 (36%). Annual expected WTP for keeping the rules ranged between € 54.3 and € 99.0 depending on assumptions about compensations demanded by respondents not willing to pay. The estimates are conservative since only answers from respondents that were absolutely certain they would pay the suggested bid were regarded as yes-responses. That WTP is positive implies that Swedish citizens perceived the benefits of the rules to be larger than their costs. Copyright © 2012 Elsevier B.V. All rights reserved.

Valuing environmental health for informed policy-making.

PubMed

Máca, Vojtěch; Melichar, Jan; Ščasný, Milan; Kohlová, Markéta Braun

2017-03-01

Monetized environmental health impact assessments help to better evaluate the environmental burden of a wide range of economic activities. Apart from the limitations and uncertainties in physical and biological science used in such assessments, assumptions taken from economic valuation may also substantially influence subsequent policy-making considerations. This study attempts to demonstrate the impact of normative policy assumptions on quantified external costs using a case study of recently discussed variants of future coal mining and use of extracted coal in electricity and heat generation in the Czech Republic. A bottom-up impact-pathway approach is used for quantification of external costs. Several policy perspectives are elaborated for aggregating impacts that differ in geographic coverage and in how valuation of quantified impacts is adjusted in a particular perspective. We find that the fraction of monetized external impacts taken into policy-making considerations may vary according to choice of decision perspective up to a factor of 10. At present there are virtually no hard rules for defining geographical boundaries or adjusting values for a summation of monetized environmental impacts. We, however, stress that any rigorous external cost assessment should, for instance in a separate calculation, take account of impacts occurring beyond country borders.

Methods in Symbolic Computation and p-Adic Valuations of Polynomials

NASA Astrophysics Data System (ADS)

Guan, Xiao

Symbolic computation has widely appear in many mathematical fields such as combinatorics, number theory and stochastic processes. The techniques created in the area of experimental mathematics provide us efficient ways of symbolic computing and verification of complicated relations. Part I consists of three problems. The first one focuses on a unimodal sequence derived from a quartic integral. Many of its properties are explored with the help of hypergeometric representations and automatic proofs. The second problem tackles the generating function of the reciprocal of Catalan number. It springs from the closed form given by Mathematica. Furthermore, three methods in special functions are used to justify this result. The third issue addresses the closed form solutions for the moments of products of generalized elliptic integrals , which combines the experimental mathematics and classical analysis. Part II concentrates on the p-adic valuations of polynomials from the perspective of trees. For a given polynomial f( n) indexed in positive integers, the package developed in Mathematica will create certain tree structure following a couple of rules. The evolution of such trees are studied both rigorously and experimentally from the view of field extension, nonparametric statistics and random matrix.

Ghrelin increases the motivation to eat, but does not alter food palatability

PubMed Central

Overduin, Joost; Figlewicz, Dianne P.; Bennett-Jay, Jennifer; Kittleson, Sepideh

2012-01-01

Homeostatic eating cannot explain overconsumption of food and pathological weight gain. A more likely factor promoting excessive eating is food reward and its representation in the central nervous system (CNS). The anorectic hormones leptin and insulin reduce food reward and inhibit related CNS reward pathways. Conversely, the orexigenic gastrointestinal hormone ghrelin activates both homeostatic and reward-related neurocircuits. The current studies were conducted to identify in rats the effects of intracerebroventricular ghrelin infusions on two distinct aspects of food reward: hedonic valuation (i.e., “liking”) and the motivation to self-administer (i.e., “wanting”) food. To assess hedonic valuation of liquid food, lick motor patterns were recorded using lickometry. Although ghrelin administration increased energy intake, it did not alter the avidity of licking (initial lick rates or lick-cluster size). Several positive-control conditions ruled out lick-rate ceiling effects. Similarly, when the liquid diet was hedonically devalued with quinine supplementation, ghrelin failed to reverse the quinine-associated reduction of energy intake and avidity of licking. The effects of ghrelin on rats' motivation to eat were assessed using lever pressing to self-administer food in a progressive-ratio paradigm. Ghrelin markedly increased motivation to eat, to levels comparable to or greater than those seen following 24 h of food deprivation. Pretreatment with the dopamine D1 receptor antagonist SCH-23390 eliminated ghrelin-induced increases in lever pressing, without compromising generalized licking motor control, indicating a role for D1 signaling in ghrelin's motivational feeding effects. These results indicate that ghrelin increases the motivation to eat via D1 receptor-dependent mechanisms, without affecting perceived food palatability. PMID:22673784

Distinct patterns of outcome valuation and amygdala-prefrontal cortex synaptic remodeling in adolescence and adulthood

PubMed Central

Stolyarova, Alexandra; Izquierdo, Alicia

2015-01-01

Adolescent behavior is typified by increased risk-taking, reward- and novelty-seeking, as well as an augmented need for social and environmental stimulation. This behavioral phenotype may result from alterations in outcome valuation or reward learning. In the present set of experiments, we directly compared adult and adolescent animals on tasks measuring both of these processes. Additionally, we examined developmental differences in dopamine D1-like receptor (D1R), dopamine D2-like receptor (D2R), and polysialylated neural cell adhesion molecule (PSA-NCAM) expression in animals that were trained on an effortful reward valuation task, given that these proteins play an important role in the functional development of the amygdala-prefrontocortical (PFC) circuit and mesocorticolimbic dopamine system. We found that adolescent animals were not different from adults in appetitive associative learning, but exhibited distinct pattern of responses to differences in outcome values, which was paralleled by an enhanced motivation to invest effort to obtain larger rewards. There were no differences in D2 receptor expression, but D1 receptor expression was significantly reduced in the striatum of animals that had experiences with reward learning during adolescence compared to animals that went through the same experiences in adulthood. We observed increased levels of PSA-NCAM expression in both PFC and amygdala of late adolescents compared to adults that were previously trained on an effortful reward valuation task. PSA-NCAM levels in PFC were strongly and positively associated with high effort/reward (HER) choices in adolescents, but not in adult animals. Increased levels of PSA-NCAM expression in adolescents may index increased structural plasticity and represent a neural correlate of a reward sensitive endophenotype. PMID:25999830

26 CFR 20.2031-0 - Table of contents.

Code of Federal Regulations, 2011 CFR

2011-04-01

.... § 20.2031-5Valuation of cash on hand or on deposit. § 20.2031-6Valuation of household and personal... contracts; valuation of shares in an open-end investment company. § 20.2031-9Valuation of other property...

77 FR 2128 - Southwest Pennsylvania Railroad Company-Acquisition Exemption-Laurel Hill Development Corporation

Federal Register 2010, 2011, 2012, 2013, 2014

2012-01-13

... Valuation Station 4+06.3 in Greene Junction and Rail Valuation Station 1148+43.8 in Smithfield, as shown generally on Valuation Maps V.69.1/S-43a, V.69.11/1 to 6, and V.82.1/1 to 6, in Fayette County, Pa.; (b) 3.28 miles of rail line extending between Rail Valuation Station 1+30 in Broadford and Rail Valuation...

Valuing biodiversity and ecosystem services: a useful way to manage and conserve marine resources?

PubMed

Cavanagh, Rachel D; Broszeit, Stefanie; Pilling, Graham M; Grant, Susie M; Murphy, Eugene J; Austen, Melanie C

2016-12-14

Valuation of biodiversity and ecosystem services (ES) is widely recognized as a useful, though often controversial, approach to conservation and management. However, its use in the marine environment, hence evidence of its efficacy, lags behind that in terrestrial ecosystems. This largely reflects key challenges to marine conservation and management such as the practical difficulties in studying the ocean, complex governance issues and the historically-rooted separation of biodiversity conservation and resource management. Given these challenges together with the accelerating loss of marine biodiversity (and threats to the ES that this biodiversity supports), we ask whether valuation efforts for marine ecosystems are appropriate and effective. We compare three contrasting systems: the tropical Pacific, Southern Ocean and UK coastal seas. In doing so, we reveal a diversity in valuation approaches with different rates of progress and success. We also find a tendency to focus on specific ES (often the harvested species) rather than biodiversity. In light of our findings, we present a new conceptual view of valuation that should ideally be considered in decision-making. Accounting for the critical relationships between biodiversity and ES, together with an understanding of ecosystem structure and functioning, will enable the wider implications of marine conservation and management decisions to be evaluated. We recommend embedding valuation within existing management structures, rather than treating it as an alternative or additional mechanism. However, we caution that its uptake and efficacy will be compromised without the ability to develop and share best practice across regions. © 2016 The Authors.

Valuing biodiversity and ecosystem services: a useful way to manage and conserve marine resources?

PubMed Central

Broszeit, Stefanie; Pilling, Graham M.; Grant, Susie M.; Austen, Melanie C.

2016-01-01

Valuation of biodiversity and ecosystem services (ES) is widely recognized as a useful, though often controversial, approach to conservation and management. However, its use in the marine environment, hence evidence of its efficacy, lags behind that in terrestrial ecosystems. This largely reflects key challenges to marine conservation and management such as the practical difficulties in studying the ocean, complex governance issues and the historically-rooted separation of biodiversity conservation and resource management. Given these challenges together with the accelerating loss of marine biodiversity (and threats to the ES that this biodiversity supports), we ask whether valuation efforts for marine ecosystems are appropriate and effective. We compare three contrasting systems: the tropical Pacific, Southern Ocean and UK coastal seas. In doing so, we reveal a diversity in valuation approaches with different rates of progress and success. We also find a tendency to focus on specific ES (often the harvested species) rather than biodiversity. In light of our findings, we present a new conceptual view of valuation that should ideally be considered in decision-making. Accounting for the critical relationships between biodiversity and ES, together with an understanding of ecosystem structure and functioning, will enable the wider implications of marine conservation and management decisions to be evaluated. We recommend embedding valuation within existing management structures, rather than treating it as an alternative or additional mechanism. However, we caution that its uptake and efficacy will be compromised without the ability to develop and share best practice across regions. PMID:27928037

Implementing GIS in real estate price prediction and mass valuation: the case study of Nicosia District

NASA Astrophysics Data System (ADS)

Yiorkas, Charalambos; Dimopoulos, Thomas

2017-09-01

When the European Commission, International Monetary Fund and European Central Bank arrived in Cyprus to assist for a sustainable solution on the crisis on the banking sector, one of the first things they ordered was a New General Valuation (a mass appraisal that would revalue all properties in Cyprus as on 1st of January 2013), that it would be used for taxation purposes. The above indicates the importance of property mass appraising tools. This task was successfully conducted by the Department of Lands and Surveys. Authors aim to move a step further and implement the use of GIS and GWR techniques to improve the results of the New General Valuation. On a sample of comparative evidences for flats in Nicosia District, GIS was used to measure the impact of spatial attributes on real estate prices and to construct a prediction model in terms of spatially estimating apartment values. In addition to the structural property characteristics, some spatial attributes (landmarks) were also analysed to assess their contribution on the prices of the apartments, including the Central Business District (CBD), schools and universities, as well as the major city roads and the restricted zone that divides the country into two parts; the occupied by Turkish area and the Greek area. The values of the spatial attributes, or locational characteristics, were determined by employing GIS, considering an established model of multicriteria analysis. The price prediction model was analysed using the OLS method and calibrated based on the GWR method. The results of the statistic process indicate an accuracy of 81.34%, showing better performance than the mass valuation system applied by the Department of Land and Surveys in Cyprus with accuracy of 66.76%. This approach suggests that GIS systems are fundamentally important in mass valuation procedures in order to identify the spatial pattern of the attributes, provided that the database is comprised by a sufficient number of comparable information and it is continuously updated.

26 CFR 20.2032-1 - Alternate valuation.

Code of Federal Regulations, 2010 CFR

2010-04-01

... alternate valuation method under section 2032, the property included in the decedent's gross estate on the..., the alternate valuation method applies to all property included in the gross estate and cannot be... elects the alternate valuation method under section 2432, all property interests existing at the date of...

Outpatient imaging center valuations: do you need a fair-market value analysis?

PubMed

Koonsman, G S

2001-01-01

Typically, outpatient diagnostic imaging centers are formed as partnerships between radiologists, radiologists and hospitals, and/or radiologists and diagnostic imaging center management companies. As a result of these partnership structures, the question of equity valuation frequently arises. It is not only important to understand when an independent valuation would be required, but also what "type" of valuation needs to be performed. The type of valuation may vary based upon the use of the valuation. In partnerships that involve hospitals and physicians, the federal anti-kickback statutes (fraud and abuse laws) require that all transactions between referring physicians and hospitals be consummated at fair-market value. In addition, tax-exempt hospitals that enter into partnerships with physicians are required to enter into those transactions at fair-market value or risk losing their tax-exempt status. Fair-market value is also typically the standard of value that all partnerships strive to conduct equity transactions with shareholders. Qualifications required by those who perform independent fair-market value opinions include: Proper business valuation training and focus on valuations as a primary business Focus on the healthcare industry and specifically on the valuation of diagnostic imaging centers In order to perform a reasonable business valuation analysis, the appraiser must have access to a significant amount of financial, operational and legal information. The analyst must be able to understand the history of the imaging center as well as the projected future of the center. Ultimately, a valuation is a measurement of the estimated future cash flows of the center--risk adjusted--in order to quantify the present value of those cash flows.

7 CFR 4290.503 - RBIC's adoption of an approved valuation policy.

Code of Federal Regulations, 2010 CFR

2010-01-01

... close of the quarter. (e) Review of valuations by independent public accountant. (1) For valuations performed as of the end of your fiscal year, your independent public accountant must review your valuation... independent public accountant's report on your audited annual financial statements (SBA Form 468) must include...

13 CFR 107.503 - Licensee's adoption of an approved valuation policy.

Code of Federal Regulations, 2010 CFR

2010-01-01

... of the quarter. (e) Review of valuations by independent public accountant. (1) For valuations performed as of the end of your fiscal year, your independent public accountant must review your valuation... independent public accountant's report on your audited annual financial statements (SBA Form 468) must include...

46 CFR 309.3 - Stated valuation.

Code of Federal Regulations, 2011 CFR

2011-10-01

... 46 Shipping 8 2011-10-01 2011-10-01 false Stated valuation. 309.3 Section 309.3 Shipping MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION EMERGENCY OPERATIONS VALUES FOR WAR RISK INSURANCE § 309.3 Stated valuation. A stated valuation represents just compensation for the vessel to which it applies computed by...

46 CFR 309.3 - Stated valuation.

Code of Federal Regulations, 2012 CFR

2012-10-01

... 46 Shipping 8 2012-10-01 2012-10-01 false Stated valuation. 309.3 Section 309.3 Shipping MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION EMERGENCY OPERATIONS VALUES FOR WAR RISK INSURANCE § 309.3 Stated valuation. A stated valuation represents just compensation for the vessel to which it applies computed by...

46 CFR 309.3 - Stated valuation.

Code of Federal Regulations, 2010 CFR

2010-10-01

... 46 Shipping 8 2010-10-01 2010-10-01 false Stated valuation. 309.3 Section 309.3 Shipping MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION EMERGENCY OPERATIONS VALUES FOR WAR RISK INSURANCE § 309.3 Stated valuation. A stated valuation represents just compensation for the vessel to which it applies computed by...

46 CFR 309.3 - Stated valuation.

Code of Federal Regulations, 2014 CFR

2014-10-01

... 46 Shipping 8 2014-10-01 2014-10-01 false Stated valuation. 309.3 Section 309.3 Shipping MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION EMERGENCY OPERATIONS VALUES FOR WAR RISK INSURANCE § 309.3 Stated valuation. A stated valuation represents just compensation for the vessel to which it applies computed by...

46 CFR 309.3 - Stated valuation.

Code of Federal Regulations, 2013 CFR

2013-10-01

... 46 Shipping 8 2013-10-01 2013-10-01 false Stated valuation. 309.3 Section 309.3 Shipping MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION EMERGENCY OPERATIONS VALUES FOR WAR RISK INSURANCE § 309.3 Stated valuation. A stated valuation represents just compensation for the vessel to which it applies computed by...

Valuation of Property.

ERIC Educational Resources Information Center

Bodley, Joanne H.; Goodenough, Linda

This report describes property tax revenues and assessment rates for all 50 States during 1966. The following information is summarized by State and by class of property: (1) The total valuation and the taxable valuation of property subject to local general property taxation and the percent distribution of total valuation by class of property; (2)…

7 CFR 4290.503 - RBIC's adoption of an approved valuation policy.

Code of Federal Regulations, 2011 CFR

2011-01-01

... close of the quarter. (e) Review of valuations by independent public accountant. (1) For valuations performed as of the end of your fiscal year, your independent public accountant must review your valuation... independent public accountant's report on your audited annual financial statements (SBA Form 468) must include...

A comparison of United States and United Kingdom EQ-5D health states valuations using a nonparametric Bayesian method.

PubMed

Kharroubi, Samer A; O'Hagan, Anthony; Brazier, John E

2010-07-10

Cost-effectiveness analysis of alternative medical treatments relies on having a measure of effectiveness, and many regard the quality adjusted life year (QALY) to be the current 'gold standard.' In order to compute QALYs, we require a suitable system for describing a person's health state, and a utility measure to value the quality of life associated with each possible state. There are a number of different health state descriptive systems, and we focus here on one known as the EQ-5D. Data for estimating utilities for different health states have a number of features that mean care is necessary in statistical modelling.There is interest in the extent to which valuations of health may differ between different countries and cultures, but few studies have compared preference values of health states obtained from different countries. This article applies a nonparametric model to estimate and compare EQ-5D health state valuation data obtained from two countries using Bayesian methods. The data set is the US and UK EQ-5D valuation studies where a sample of 42 states defined by the EQ-5D was valued by representative samples of the general population from each country using the time trade-off technique. We estimate a utility function across both countries which explicitly accounts for the differences between them, and is estimated using the data from both countries. The article discusses the implications of these results for future applications of the EQ-5D and for further work in this field. Copyright 2010 John Wiley & Sons, Ltd.

Addressing Risk in the Valuation of Energy Systems

DOE Office of Scientific and Technical Information (OSTI.GOV)

Veeramany, Arun; Hammerstrom, Donald J.; Woodward, James T.

2017-06-26

Valuation is a mechanism by which potential worth of a transaction between two or more parties can be evaluated. Examples include valuation of transactive energy systems such as electric power system and building energy systems. Uncertainties can manifest while exercising a valuation methodology in the form of lack of knowledge or be inherently embedded in the valuation process. Uncertainty could also exist in the temporal dimension while planning for long-term growth. This paper discusses risk considerations associated with valuation studies in support of decision-making in the presence of such uncertainties. It is often important to have foresight of uncertain entitiesmore » that can impact real-world deployments, such as the comparison or ranking of two valuation studies to determine cost-benefit impacts to multiple stakeholders. The research proposes to address this challenge through simulation and sensitivity analyses to support ‘what-if’ analysis of well-defined future scenarios. This paper describes foundational value of diagrammatic representation techniques such as unified modeling language to understand the implications of not addressing some of the risk elements encountered during the valuation process. The paper includes examples from generation resource adequacy assessment studies (e.g. loss of load) to illustrate the principles of risk in valuation.« less

Economic evaluation of the new U.S. arsenic standard for drinking water: A disaggregate approach

NASA Astrophysics Data System (ADS)

Cho, Yongsung; Easter, K. William; Konishi, Yoshifumi

2010-10-01

We evaluate the welfare consequences of the new U.S. arsenic standard for drinking water, using contingent valuation survey and recent cost data for the small rural community water systems in Minnesota that have had arsenic levels above the new standard prior to its implementation. Using variation in actual arsenic levels and an elicitation method that recognizes the dependence of welfare values on both ambient arsenic concentrations and self-protection levels, the welfare values of the new arsenic rule are estimated at 6-23 per household per year for communities with less than 10 μg/L of arsenic currently in their water and 31-78 for communities with more than 10 μg/L of arsenic. Given cost estimates of 230-2,006 and the fact that a substantial portion of the cost needs to be internally financed, the new rule may have substantially negative welfare consequences for a number of small communities.

Collaboration pathway(s) using new tools for optimizing operational climate monitoring from space

NASA Astrophysics Data System (ADS)

Helmuth, Douglas B.; Selva, Daniel; Dwyer, Morgan M.

2014-10-01

Consistently collecting the earth's climate signatures remains a priority for world governments and international scientific organizations. Architecting a solution requires transforming scientific missions into an optimized robust `operational' constellation that addresses the needs of decision makers, scientific investigators and global users for trusted data. The application of new tools offers pathways for global architecture collaboration. Recent (2014) rulebased decision engine modeling runs that targeted optimizing the intended NPOESS architecture, becomes a surrogate for global operational climate monitoring architecture(s). This rule-based systems tools provide valuable insight for Global climate architectures, through the comparison and evaluation of alternatives considered and the exhaustive range of trade space explored. A representative optimization of Global ECV's (essential climate variables) climate monitoring architecture(s) is explored and described in some detail with thoughts on appropriate rule-based valuations. The optimization tools(s) suggest and support global collaboration pathways and hopefully elicit responses from the audience and climate science shareholders.

Time varying default barrier as an agreement rules on bond contract

NASA Astrophysics Data System (ADS)

Maruddani, Di Asih I.; Safitri, Diah; Hoyyi, Abdul

2018-05-01

There are some default time rules on contract agreement of a bond. The classical default time is known as Merton Model. The most important characteristic of Merton’s model is the restriction of default time to the maturity of the debt, not taking into consideration the possibility of an early default. If the firm’s value falls down to minimal level before the maturity of the debt, but it is able to recover and meet the debt’s payment at maturity, the default would be avoided in Merton’ s approach. Merton model has been expanded by Hull & White [6] and Avellaneda & Zhu [1]. They introduced time-varying default barrier for modelling distance to default process. This model use time-varying variable as a barrier. In this paper, we give a valuation of a bond with time-varying default barrier agreement. We use straight forward integration for obtaining equity and liability equation. This theory is applied in Indonesian corporate bond.

Comparing Apples and Oranges: Using Reward-Specific and Reward-General Subjective Value Representation in the Brain

PubMed Central

Glimcher, Paul W.

2011-01-01

The ability of human subjects to choose between disparate kinds of rewards suggests that the neural circuits for valuing different reward types must converge. Economic theory suggests that these convergence points represent the subjective values (SVs) of different reward types on a common scale for comparison. To examine these hypotheses and to map the neural circuits for reward valuation we had food and water-deprived subjects make risky choices for money, food, and water both in and out of a brain scanner. We found that risk preferences across reward types were highly correlated; the level of risk aversion an individual showed when choosing among monetary lotteries predicted their risk aversion toward food and water. We also found that partially distinct neural networks represent the SVs of monetary and food rewards and that these distinct networks showed specific convergence points. The hypothalamic region mainly represented the SV for food, and the posterior cingulate cortex mainly represented the SV for money. In both the ventromedial prefrontal cortex (vmPFC) and striatum there was a common area representing the SV of both reward types, but only the vmPFC significantly represented the SVs of money and food on a common scale appropriate for choice in our data set. A correlation analysis demonstrated interactions across money and food valuation areas and the common areas in the vmPFC and striatum. This may suggest that partially distinct valuation networks for different reward types converge on a unified valuation network, which enables a direct comparison between different reward types and hence guides valuation and choice. PMID:21994386

A study of the user's perception of economic value in nursing visits to primary care by the method of contingent valuation.

PubMed

Martín-Fernández, Jesús; Pérez-Rivas, Francisco Javier; Gómez-Gascón, Tomás; del Cura-González, Isabel; Tello Bernabé, Eugenia; Rodríguez-Martínez, Gemma; Polentinos-Castro, Elena; Domínguez-Bidagor, Julia; Ariza-Cardiel, Gloria; Conde-López, Juan Francisco; Beamud-Lagos, Milagros; Aguado-Arroyo, Oscar; Sanz-Bayona, Teresa; Gil-Lacruz, Ana Isabel

2011-10-03

The identification of the attribution of economic value that users of a health system assign to a health service could be useful in planning these services. The method of contingent valuation can provide information about the user's perception of value in monetary terms, and therefore comparable between services of a very different nature. This study attempts to extract the economic value that the subject, user of primary care nursing services in a public health system, attributes to this service by the method of contingent valuation, based on the perspectives of Willingness to Pay (WTP) and Willingness to Accept [Compensation] (WTA). This is an economic study with a transversal design. The contingent valuation method will be used to estimate the user's willingness to pay (WTP) for the care received from the primary care nurse and the willingness to accept [compensation] (WTA), were this service eliminated. A survey that meets the requisites of the contingent valuation method will be constructed and pilot-tested. Subsequently, 600 interviews will be performed with subjects chosen by systematic randomized sampling from among those who visit nursing at twenty health centers with different socioeconomic characteristics in the Community of Madrid. The characteristics of the subject and of the care received that can explain the variations in WTP, WTA and in the WTP/WTA ratio expressed will be studied. A theoretical validation of contingent valuation will be performed constructing two explanatory multivariate mixed models in which the dependent variable will be WTP, and the WTP/WTA relationship, respectively. The identification of the attribution of economic value to a health service that does not have a direct price at the time of use, such as a visit to primary care nursing, and the definition of a profile of "loss aversion" in reference to the service evaluated, can be relevant elements in planning, enabling incorporating patient preferences to health policy decision-making.

A study of the user's perception of economic value in nursing visits to primary care by the method of contingent valuation

PubMed Central

2011-01-01

Background The identification of the attribution of economic value that users of a health system assign to a health service could be useful in planning these services. The method of contingent valuation can provide information about the user's perception of value in monetary terms, and therefore comparable between services of a very different nature. This study attempts to extract the economic value that the subject, user of primary care nursing services in a public health system, attributes to this service by the method of contingent valuation, based on the perspectives of Willingness to Pay (WTP) and Willingness to Accept [Compensation] (WTA). Methods/Design This is an economic study with a transversal design. The contingent valuation method will be used to estimate the user's willingness to pay (WTP) for the care received from the primary care nurse and the willingness to accept [compensation] (WTA), were this service eliminated. A survey that meets the requisites of the contingent valuation method will be constructed and pilot-tested. Subsequently, 600 interviews will be performed with subjects chosen by systematic randomized sampling from among those who visit nursing at twenty health centers with different socioeconomic characteristics in the Community of Madrid. The characteristics of the subject and of the care received that can explain the variations in WTP, WTA and in the WTP/WTA ratio expressed will be studied. A theoretical validation of contingent valuation will be performed constructing two explanatory multivariate mixed models in which the dependent variable will be WTP, and the WTP/WTA relationship, respectively. Discussion The identification of the attribution of economic value to a health service that does not have a direct price at the time of use, such as a visit to primary care nursing, and the definition of a profile of "loss aversion" in reference to the service evaluated, can be relevant elements in planning, enabling incorporating patient preferences to health policy decision-making. PMID:21967306

30 CFR 1206.59 - May I ask ONRR for valuation guidance?

Code of Federal Regulations, 2014 CFR

2014-07-01

... 30 Mineral Resources 3 2014-07-01 2014-07-01 false May I ask ONRR for valuation guidance? 1206.59 Section 1206.59 Mineral Resources OFFICE OF NATURAL RESOURCES REVENUE, DEPARTMENT OF THE INTERIOR NATURAL RESOURCES REVENUE PRODUCT VALUATION Indian Oil § 1206.59 May I ask ONRR for valuation guidance? You may ask...

30 CFR 1206.59 - May I ask ONRR for valuation guidance?

Code of Federal Regulations, 2012 CFR

2012-07-01

... 30 Mineral Resources 3 2012-07-01 2012-07-01 false May I ask ONRR for valuation guidance? 1206.59 Section 1206.59 Mineral Resources OFFICE OF NATURAL RESOURCES REVENUE, DEPARTMENT OF THE INTERIOR NATURAL RESOURCES REVENUE PRODUCT VALUATION Indian Oil § 1206.59 May I ask ONRR for valuation guidance? You may ask...

30 CFR 1206.59 - May I ask ONRR for valuation guidance?

Code of Federal Regulations, 2013 CFR

2013-07-01

... 30 Mineral Resources 3 2013-07-01 2013-07-01 false May I ask ONRR for valuation guidance? 1206.59 Section 1206.59 Mineral Resources OFFICE OF NATURAL RESOURCES REVENUE, DEPARTMENT OF THE INTERIOR NATURAL RESOURCES REVENUE PRODUCT VALUATION Indian Oil § 1206.59 May I ask ONRR for valuation guidance? You may ask...

43 CFR 30.152 - May the parties to an agreement waive valuation of trust property?

Code of Federal Regulations, 2010 CFR

2010-10-01

... valuation of trust property? 30.152 Section 30.152 Public Lands: Interior Office of the Secretary of the... parties to an agreement waive valuation of trust property? The parties to a settlement agreement or a consolidation agreement may waive valuation of trust property otherwise required by regulation or the Secretary...

Stated Preference Methods for Valuation of Forest Attributes

Treesearch

Thomas P. Holmes; Kevin J. Boyle

2003-01-01

The valuation methods described in this chapter are based on the idea that forest ecosystems produce a wide variety of goods and services that are valued by people. Rather than focusing attention on the holistic value of forest ecosystems as is done in contingent valuation studies, attribute-based valuation methods (ABMs) focus attention on a set of attributes that...

Parasitic egg rejection decisions of chalk-browed mockingbirds Mimus saturninus are independent of clutch composition.

PubMed

de la Colina, M A; Pompilio, L; Hauber, M E; Reboreda, J C; Mahler, B

2018-03-01

Obligate avian brood parasites lay their eggs in nests of other host species, which assume all the costs of parental care for the foreign eggs and chicks. The most common defensive response to parasitism is the rejection of foreign eggs by hosts. Different cognitive mechanisms and decision-making rules may guide both egg recognition and rejection behaviors. Classical optimization models generally assume that decisions are based on the absolute properties of the options (i.e., absolute valuation). Increasing evidence shows instead that hosts' rejection decisions also depend on the context in which options are presented (i.e., context-dependent valuation). Here we study whether the chalk-browed mockingbird's (Mimus saturninus) rejection of parasitic shiny cowbird (Molothrus bonariensis) eggs is a fixed behavior or varies with the context of the clutch. We tested three possible context-dependent mechanisms: (1) range effect, (2) habituation to variation, and (3) sensitization to variation. We found that mockingbird rejection of parasitic eggs does not change according to the characteristics of the other eggs in the nest. Thus, rejection decisions may exclusively depend on the objective characteristics of the eggs, meaning that the threshold of acceptance or rejection of a foreign egg is context-independent in this system.

An Approach for Calculating Land Valuation by Using Inspire Data Models

NASA Astrophysics Data System (ADS)

Aydinoglu, A. C.; Bovkir, R.

2017-11-01

Land valuation is a highly important concept for societies and governments have always emphasis on the process especially for taxation, expropriation, market capitalization and economic activity purposes. To success an interoperable and standardised land valuation, INSPIRE data models can be very practical and effective. If data used in land valuation process produced in compliance with INSPIRE specifications, a reliable and effective land valuation process can be performed. In this study, possibility of the performing land valuation process with using the INSPIRE data models was analysed and with the help of Geographic Information Systems (GIS) a case study in Pendik was implemented. For this purpose, firstly data analysis and gathering was performed. After, different data structures were transformed according to the INSPIRE data model requirements. For each data set necessary ETL (Extract-Transform-Load) tools were produced and all data transformed according to the target data requirements. With the availability and practicability of spatial analysis tools of GIS software, land valuation calculations were performed for study area.

Recreational benefits of urban forests: explaining visitors' willingness to pay in the context of the theory of planned behavior.

PubMed

Bernath, Katrin; Roschewitz, Anna

2008-11-01

The extension of contingent valuation models with an attitude-behavior based framework has been proposed in order to improve the descriptive and predictive ability of the models. This study examines the potential of the theory of planned behavior to explain willingness to pay (WTP) in a contingent valuation survey of the recreational benefits of the Zurich city forests. Two aspects of WTP responses, protest votes and bid levels, were analyzed separately. In both steps, models with and without the psychological predictors proposed by the theory of planned behavior were compared. Whereas the inclusion of the psychological predictors significantly improved explanations of protest votes, their ability to improve the performance of the model explaining bid levels was limited. The results indicate that the interpretation of bid levels as behavioral intention may not be appropriate and that the potential of the theory of planned behavior to improve contingent valuation models depends on which aspect of WTP responses is examined.

Hispanic valuation of the EQ-5D health states: a social value set for Latin Americans.

PubMed

Zarate, Victor; Kind, Paul; Chuang, Ling-Hsiang

2008-12-01

Cost-effectiveness analysis has been recommended by national health agencies worldwide. In the United Kingdom, the National Institute of Health and Clinical Excellence supports the use of generic health-related quality of life instruments such as EuroQol EQ-5D when quality-adjusted life-years are used to measure health benefits. Despite the urgent need for appropriate methodologies to improve the use of scarce resources in Latin American countries, little is known about how health is valued. A national population survey was conducted in the United States in 2002, based on a sample of 1603 non-Hispanic nonblacks and 1115 Hispanics. Participants provided time trade-off utilities for a subset of 42 EQ-5D health states. Hispanic respondents were grouped according to their language preferences (Spanish or English). Mean utilities were compared for each health state. A random-effects model was used to determine whether real population differences exist after adjusting for sociodemographic characteristics. A population value set for all 243 EQ-5D health states was developed using only the data from Spanish-speaking Hispanics. Mean valuations differed slightly between non-Hispanic nonblacks and English-speaking Hispanics. Spanish-speaking Hispanics, however, tended to give higher valuations than non-Hispanic nonblacks (P < 0.05) corresponding to an average of 0.034 point. A regression model was developed for Spanish-speaking Hispanics with a mean absolute error of 0.031. Values estimated using this model show marked differences when compared with corresponding values estimated using the UK (N3) and US (D1) models. The availability of a Hispanic model for EQ-5D valuations represents a significant new option for decision-makers, providing a set of social preference weights for use in Latin American countries that presently lack their own domestic value set.

36 CFR 254.9 - Appraisals.

Code of Federal Regulations, 2013 CFR

2013-07-01

... comparative market analysis and, if more than one method of valuation is used, an analysis and reconciliation... conclusions contained in the appraisal report; and (11) Copies of relevant written reports, studies, or...

36 CFR 254.9 - Appraisals.

Code of Federal Regulations, 2011 CFR

2011-07-01

... comparative market analysis and, if more than one method of valuation is used, an analysis and reconciliation... conclusions contained in the appraisal report; and (11) Copies of relevant written reports, studies, or...

36 CFR 254.9 - Appraisals.

Code of Federal Regulations, 2014 CFR

2014-07-01

... comparative market analysis and, if more than one method of valuation is used, an analysis and reconciliation... conclusions contained in the appraisal report; and (11) Copies of relevant written reports, studies, or...

36 CFR 254.9 - Appraisals.

Code of Federal Regulations, 2012 CFR

2012-07-01

... comparative market analysis and, if more than one method of valuation is used, an analysis and reconciliation... conclusions contained in the appraisal report; and (11) Copies of relevant written reports, studies, or...

36 CFR 254.9 - Appraisals.

Code of Federal Regulations, 2010 CFR

2010-07-01

... comparative market analysis and, if more than one method of valuation is used, an analysis and reconciliation... conclusions contained in the appraisal report; and (11) Copies of relevant written reports, studies, or...

Environmental Justice Challengers for Ecosystem Service Valuation

EPA Science Inventory

In pursuing improved ecosystem services management, there is also an opportunity to work towards environmental justice. The practice of environmental valuation can assist with both goals, but as typically employed obscures distributional analysis. Furthermore, valuation technique...

Economic Valuation of Selected Illnesses in Environmental Public Health Tracking.

PubMed

Zhou, Ying; Nurmagambetov, Tursynbek; McCord, Matthew; Hsu, Wan-Hsiang

In benefit-cost analysis of public health programs, health outcomes need to be assigned monetary values so that different health endpoints can be compared and improvement in health can be compared with cost of the program. There are 2 major approaches for estimating economic value of illnesses: willingness to pay (WTP) and cost of illness (COI). In this study, we compared these 2 approaches and summarized valuation estimates for 3 health endpoints included in the Centers for Disease Control and Prevention's National Environmental Public Health Tracking Network-asthma, carbon monoxide (CO) poisoning, and lead poisoning. First, we compared results of WTP and COI estimates reported in the peer-reviewed literature when these 2 methods were applied to the same study participants. Second, we reviewed the availability and summarized valuations using these 2 approaches for 3 health endpoints. For the same study participants, WTP estimates in the literature were higher than COI estimates for minor and moderate cases. For more severe cases, with substantial portion of the costs paid by the third party, COI could exceed WTP. Annual medical cost of asthma based on COI approach ranged from $800 to $3300 and indirect costs ranged from $90 to $1700. WTP to have no asthma symptoms ranged from $580 to $4200 annually. We found no studies estimating WTP to avoid CO or lead poisoning. Cost of a CO poisoning hospitalization ranged from $14 000 to $17 000. For patients who sustained long-term cognitive sequela, lifetime earnings and quality-of-life losses can significantly exceed hospitalization costs. For lead poisoning, most studies focused on lead exposure and cognitive ability, and its impact on lifetime earnings. For asthma, more WTP studies are needed, particularly studies designed for conditions that involve third-party payers. For CO poisoning and lead poisoning, WTP studies need to be conducted so that more comprehensive economic valuation estimates can be provided. When COI estimates are used alone, it should be clearly stated that COI does not fully capture the nonmarket cost of illness, such as pain and suffering, which highlights the need for WTP estimates.

Valuation of medical resource units collected in health economic studies.

PubMed

Copley-Merriman, C; Lair, T J

1994-01-01

This paper reviews the issues that are critical for the valuation of medical resources in the context of health economic studies. There are several points to consider when undertaking the valuation of medical resources. The perspective of the analysis should be established before determining the valuation process. Future costs should be discounted to present values, and time and effort spent in assigning a monetary value to a medical resource should be proportional to its importance in the analysis. Prices vary considerably based on location of the service and the severity of the illness episode. Because of the wide variability in pricing data, sensitivity analysis is an important component of validation of study results. A variety of data sources have been applied to the valuation of medical resources. Several types of data are reviewed in this paper, including claims data, national survey data, administrative data, and marketing research data. Valuation of medical resources collected in clinical trials is complex because of the lack of standardization of the data sources. A national pricing data source for health economic valuation would greatly facilitate study analysis and make comparisons between results more meaningful.

Enhanced representations of lithium-ion batteries in power systems models and their effect on the valuation of energy arbitrage applications

NASA Astrophysics Data System (ADS)

Sakti, Apurba; Gallagher, Kevin G.; Sepulveda, Nestor; Uckun, Canan; Vergara, Claudio; de Sisternes, Fernando J.; Dees, Dennis W.; Botterud, Audun

2017-02-01

We develop three novel enhanced mixed integer-linear representations of the power limit of the battery and its efficiency as a function of the charge and discharge power and the state of charge of the battery, which can be directly implemented in large-scale power systems models and solved with commercial optimization solvers. Using these battery representations, we conduct a techno-economic analysis of the performance of a 10 MWh lithium-ion battery system testing the effect of a 5-min vs. a 60-min price signal on profits using real time prices from a selected node in the MISO electricity market. Results show that models of lithium-ion batteries where the power limits and efficiency are held constant overestimate profits by 10% compared to those obtained from an enhanced representation that more closely matches the real behavior of the battery. When the battery system is exposed to a 5-min price signal, the energy arbitrage profitability improves by 60% compared to that from hourly price exposure. These results indicate that a more accurate representation of li-ion batteries as well as the market rules that govern the frequency of electricity prices can play a major role on the estimation of the value of battery technologies for power grid applications.

Dissonance-Based Eating Disorder Prevention Program Reduces Reward Region Response to Thin Models; How Actions Shape Valuation

PubMed Central

Stice, Eric; Yokum, Sonja; Waters, Allison

2015-01-01

Research supports the effectiveness of a dissonance-based eating disorder prevention program wherein high-risk young women with body dissatisfaction critique the thin ideal, which reduces pursuit of this ideal, and the theory that dissonance induction contributes to these effects. Based on evidence that dissonance produces attitudinal change by altering neural representation of valuation, we tested whether completing the Body Project would reduce response of brain regions implicated in reward valuation to thin models. Young women with body dissatisfaction were randomized to this intervention or an educational control condition, completing assessments and fMRI scans while viewing images of thin versus average-weight female models at pre and post. Whole brain analyses indicated that, compared to controls, Body Project participants showed greater reductions in caudate response to images of thin versus average-weight models, though participants in the two conditions showed pretest differences in responsivity of other brain regions that might have contributed to this effect. Greater pre-post reductions in caudate and putamen response to thin models correlated with greater reductions in body dissatisfaction. The finding that the Body Project reduces caudate response to thin models provides novel preliminary evidence that this intervention reduces valuation of media images thought to contribute to body dissatisfaction and eating disorders, providing support for the intervention theory by documenting that this intervention alters an objective biological outcome. PMID:26641854

Dissonance-Based Eating Disorder Prevention Program Reduces Reward Region Response to Thin Models; How Actions Shape Valuation.

PubMed

Stice, Eric; Yokum, Sonja; Waters, Allison

2015-01-01

Research supports the effectiveness of a dissonance-based eating disorder prevention program wherein high-risk young women with body dissatisfaction critique the thin ideal, which reduces pursuit of this ideal, and the theory that dissonance induction contributes to these effects. Based on evidence that dissonance produces attitudinal change by altering neural representation of valuation, we tested whether completing the Body Project would reduce response of brain regions implicated in reward valuation to thin models. Young women with body dissatisfaction were randomized to this intervention or an educational control condition, completing assessments and fMRI scans while viewing images of thin versus average-weight female models at pre and post. Whole brain analyses indicated that, compared to controls, Body Project participants showed greater reductions in caudate response to images of thin versus average-weight models, though participants in the two conditions showed pretest differences in responsivity of other brain regions that might have contributed to this effect. Greater pre-post reductions in caudate and putamen response to thin models correlated with greater reductions in body dissatisfaction. The finding that the Body Project reduces caudate response to thin models provides novel preliminary evidence that this intervention reduces valuation of media images thought to contribute to body dissatisfaction and eating disorders, providing support for the intervention theory by documenting that this intervention alters an objective biological outcome.

Partitioning Stakeholders for the Economic Valuation of Ecosystem Services: Examples of a Mangrove System

DOE Office of Scientific and Technical Information (OSTI.GOV)

Micheletti, Tatiane, E-mail: micheletti@forst.tu-dresden.de; Jost, François; Berger, Uta

Although the importance of ecosystem services provided by natural forests, especially mangroves, is well known, the destruction of these environments is still ubiquitous and therefore protection measures are urgently needed. The present study compares the current approach of economic valuation of ecosystem services to a proposed one, using a study case of a mangrove system as an example. We suggest that a cost-benefit analysis for economically valuing environmental services should be performed with three additional modifications consisting of (i) a categorization of local stakeholders as demanders of particular ecosystem services, (ii) acknowledgement of the government as one of these demandermore » groups, and (iii) the inclusion of opportunity costs in the valuation. The application of this approach to the mangrove area in the east portion of Great Abaco Island, the Bahamas, reveals that not only the ecosystem services received differ between demander groups, but the monetary benefits and costs are also specific to each of these groups. We show that the economic valuation of the ecosystem should be differentiated for each category, instead of being calculated as a net ‘societal value’ as it is currently. Applying this categorization of demanders enables a better understanding of the cost and benefit structure of the protection of a natural area. The present paper aims to facilitate discussions regarding benefit and cost sharing related to the protection of natural areas.« less

Economic valuation of ecosystem services from coral reefs in the South Pacific: taking stock of recent experience.

PubMed

Laurans, Yann; Pascal, Nicolas; Binet, Thomas; Brander, Luke; Clua, Eric; David, Gilbert; Rojat, Dominique; Seidl, Andrew

2013-02-15

The economic valuation of coral reefs ecosystem services is currently seen as a promising approach to demonstrate the benefits of sustainable management of coral ecosystems to policymakers and to provide useful information for improved decisions. Most coral reefs economic studies have been conducted in the United States, Southeast Asia and the Caribbean, and only a few have covered the South Pacific region. In this region, coral reefs are essential assets for small island developing states as well as for developed countries. Accordingly, a series of ecosystem services valuations has been carried out recently in the South Pacific, to try and supply decision-makers with new information. Applying ecosystem services valuation to the specific ecological, social, economic and cultural contexts of the South Pacific is however not straightforward. This paper analyses how extant valuations address the various management challenges of coral reef regions in general and more specifically for the South Pacific. Bearing in mind that economic valuation has to match policy-making contexts, we emphasize a series of specific considerations when conducting and applying ecosystem services valuation in South Pacific ecological and social contexts. Finally, the paper examines the decision-making situations in which extant valuations took place. We conclude that, although ecosystem valuations have been effectively used as a means to raise awareness with respect to coral reef conservation, methodologies will have to be further developed, with multidisciplinary inputs, if they are to provide valuable inputs in local and technical decision-making. Copyright © 2012 Elsevier Ltd. All rights reserved.

Valuation of rangeland ecosystem services

USGS Publications Warehouse

Gascoigne, W.R.

2011-01-01

Economic valuation lends itself well to the anthropocentric orientation of ecosystem services. An economic perspective on ecosystems portrays them as natural assets providing a flow of goods and services valuable to individuals and society collectively. A few examples include the purification of drinking water, reduced risk from flooding and other extreme events, pollination of agricultural crops, climate regulation, and recreation opportunities from plant and animal habitat maintenance, among many others. Once these goods and services are identified and quantified, they can be monetized to complete the valuation process. The monetization of ecosystem goods and services (in the form of dollars) provides a common metric that allows for cross-comparison of attributes and evaluation of differing ecological scenarios. Complicating the monetization process is the fact that most of these goods and services are public and non-market in nature; meaning they are non-rival and non-exclusive and are typically not sold in a traditional market setting where monetary values are revealed. Instead, one must employ non-market valuation techniques, with primary valuation methods typically being very time and resource consuming, intimidating to non-economists, and often impractical. For these reasons, benefit transfer methods have gained popularity. This methodology harnesses the primary collection results of existing studies to make inferences about the economic values of non-market goods and services at an alternative policy site (in place and/or in time). For instance, if a primary valuation study on oak reestablishment on rangelands in southern California yielded a value of $30 per-acre associated with water regulation, this result can be transferred, with some adjustments, to say something about the value of an acre of oaks on rangelands in northern portions of the state. The economic valuation of rangeland ecosystem services has many roles. Economic values may be used as input into analyzing the costs and benefits associated with policies being proposed, or possibly already implemented. For example, with monetized values acting as a common metric, one could compare the 'benefits' of converting a rangeland ecosystem for commercial development (perhaps estimated at the market value of the developed land) with the foregone ecosystem service values (in addition to any land income lost) resulting from that land conversion. Similarly, ecosystem service values can be used to determine the level of return on an investment. rhis is a primary objective for private land conservation organizations who typically have very limited resources. Ecosystem service valuation can also have a role in damage assessments from incidents that require compensation such as oil spills. Additionally, valuation can be very informative when investigating regulatory programs that trade ecological assets such as wetland mitigation programs. Typically these programs are based simply on an 'acre for acre' criterion, and do not take into consideration varying welfare values associated with that ecosystem. Lastly, and most fundamental, ecosystem service valuation serves as a recognition tool for people of all backgrounds. Identifying and valuing ecosystem goods and services on rangelands brings to light the value these natural assets have to human welfare that often remain hidden do to their public and non-market attributes. This type of recognition is vital to the preservation of rangeland ecosystems in the future and the many ecological benefits they provide.

Validity and sensitivity of a model for assessment of impacts of river floodplain reconstruction on protected and endangered species

DOE Office of Scientific and Technical Information (OSTI.GOV)

Nooij, R.J.W. de; Lotterman, K.M.; Sande, P.H.J. van de

Environmental Impact Assessment (EIA) must account for legally protected and endangered species. Uncertainties relating to the validity and sensitivity of EIA arise from predictions and valuation of effects on these species. This paper presents a validity and sensitivity analysis of a model (BIO-SAFE) for assessment of impacts of land use changes and physical reconstruction measures on legally protected and endangered river species. The assessment is based on links between species (higher plants, birds, mammals, reptiles and amphibians, butterflies and dragon- and damselflies) and ecotopes (landscape ecological units, e.g., river dune, soft wood alluvial forests), and on value assignment to protectedmore » and endangered species using different valuation criteria (i.e., EU Habitats and Birds directive, Conventions of Bern and Bonn and Red Lists). The validity of BIO-SAFE has been tested by comparing predicted effects of landscape changes on the diversity of protected and endangered species with observed changes in biodiversity in five reconstructed floodplains. The sensitivity of BIO-SAFE to value assignment has been analysed using data of a Strategic Environmental Assessment concerning the Spatial Planning Key Decision for reconstruction of the Dutch floodplains of the river Rhine, aimed at flood defence and ecological rehabilitation. The weights given to the valuation criteria for protected and endangered species were varied and the effects on ranking of alternatives were quantified. A statistically significant correlation (p < 0.01) between predicted and observed values for protected and endangered species was found. The sensitivity of the model to value assignment proved to be low. Comparison of five realistic valuation options showed that different rankings of scenarios predominantly occur when valuation criteria are left out of the assessment. Based on these results we conclude that linking species to ecotopes can be used for adequate impact assessments. Quantification of sensitivity of impact assessment to value assignment shows that a model like BIO-SAFE is relatively insensitive to assignment of values to different policy and legislation based criteria. Arbitrariness of the value assignment therefore has a very limited effect on assessment outcomes. However, the decision to include valuation criteria or not is very important.« less

The roles of valuation and reward processing in cognitive function and psychiatric disorders

PubMed Central

Hélie, Sébastien; Shamloo, Farzin; Novak, Keisha; Foti, Dan

2017-01-01

In neuroeconomics, valuation refers to the process of assigning values to states and actions based on the animal’s current representation of the environment while reward processing corresponds to processing the feedback received from the environment to update the values of states and actions. In this article, we review the brain circuits associated with valuation and reward processing and argue that these are fundamental processes critical in many cognitive functions. Specifically, we focus on the role of valuation and reward processing in attention, memory, decision–making, and learning. Next, the extant neuroimaging literature on a number of psychiatric disorders is reviewed (i.e., addiction, pathological gambling, schizophrenia, and mood disorders), and an argument is made that associated deficits in cognitive functions can be explained in terms of abnormal valuation and reward processing. The review concludes with the impact of this framework in clinical settings and prescriptions for future research, in particular with regards to the conversions of qualitatively different valuation systems into a system of common currency. PMID:28415138

Testing the construct validity of willingness to pay valuations using objective information about risk and health benefit.

PubMed

Philips, Zoë; Whynes, David K; Avis, Mark

2006-02-01

This paper describes an experiment to test the construct validity of contingent valuation, by eliciting women's valuations for the NHS cervical cancer screening programme. It is known that, owing to low levels of knowledge of cancer and screening in the general population, women both over-estimate the risk of disease and the efficacy of screening. The study is constructed as a randomised experiment, in which one group is provided with accurate information about cervical cancer screening, whilst the other is not. The first hypothesis supporting construct validity, that controls who perceive greater benefits from screening will offer higher valuations, is substantiated. Both groups are then provided with objective information on an improvement to the screening programme, and are asked to value the improvement as an increment to their original valuations. The second hypothesis supporting construct validity, that controls who perceive the benefits of the programme to be high already will offer lower incremental valuations, is also substantiated. Copyright 2005 John Wiley & Sons, Ltd.

Coherent activity between brain regions that code for value is linked to the malleability of human behavior

PubMed Central

Cooper, Nicole; Bassett, Danielle S.; Falk, Emily B.

2017-01-01

Brain activity in medial prefrontal cortex (MPFC) during exposure to persuasive messages can predict health behavior change. This brain-behavior relationship has been linked to areas of MPFC previously associated with self-related processing; however, the mechanism underlying this relationship is unclear. We explore two components of self-related processing – self-reflection and subjective valuation – and examine coherent activity between relevant networks of brain regions during exposure to health messages encouraging exercise and discouraging sedentary behaviors. We find that objectively logged reductions in sedentary behavior in the following month are linked to functional connectivity within brain regions associated with positive valuation, but not within regions associated with self-reflection on personality traits. Furthermore, functional connectivity between valuation regions contributes additional information compared to average brain activation within single brain regions. These data support an account in which MPFC integrates the value of messages to the self during persuasive health messaging and speak to broader questions of how humans make decisions about how to behave. PMID:28240271

76 FR 30881 - Federal and Indian Coal Valuation

Federal Register 2010, 2011, 2012, 2013, 2014

2011-05-27

... No. ONRR-2011-0004] RIN 1012-AA00 Federal and Indian Coal Valuation AGENCY: Office of Natural... interested public before proposing changes to the existing regulations governing the valuation of coal produced from Federal and Indian leases, for royalty purposes. The existing Federal and Indian coal...

Attribute-Based Methods

Treesearch

Thomas P. Holmes; Wiktor L. Adamowicz

2003-01-01

Stated preference methods of environmental valuation have been used by economists for decades where behavioral data have limitations. The contingent valuation method (Chapter 5) is the oldest stated preference approach, and hundreds of contingent valuation studies have been conducted. More recently, and especially over the last decade, a class of stated preference...

26 CFR 1.475(a)-4 - Valuation safe harbor.

Code of Federal Regulations, 2010 CFR

2010-04-01

...(a)-4 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Inventories § 1.475(a)-4 Valuation safe harbor. (a) Overview—(1) Purpose. This... portions of the payments have been recognized for tax purposes before the valuation and appropriate...

Actuarial Valuation.

ERIC Educational Resources Information Center

Teachers Retirement System of Louisiana, Baton Rouge.

This report presents the results of the actuarial valuation of assets and liabilities as well as funding requirements for the Teachers Retirement System of Louisiana as of June 30, 1996. Data reported include current funding, actuarial assets and valuation assets. These include the Louisiana State University Agriculture and Extension Service Fund,…

30 CFR 1206.257 - Valuation standards for ad valorem leases.

Code of Federal Regulations, 2012 CFR

2012-07-01

... NATURAL RESOURCES REVENUE PRODUCT VALUATION Federal Coal § 1206.257 Valuation standards for ad valorem leases. (a) This section is applicable to coal leases on Federal lands which provide for the... is inconsistent with the requirements of these regulations. (2) Any Federal lessee will make...

30 CFR 1206.257 - Valuation standards for ad valorem leases.

Code of Federal Regulations, 2014 CFR

2014-07-01

... NATURAL RESOURCES REVENUE PRODUCT VALUATION Federal Coal § 1206.257 Valuation standards for ad valorem leases. (a) This section is applicable to coal leases on Federal lands which provide for the... is inconsistent with the requirements of these regulations. (2) Any Federal lessee will make...

30 CFR 1206.257 - Valuation standards for ad valorem leases.

Code of Federal Regulations, 2013 CFR

2013-07-01

... NATURAL RESOURCES REVENUE PRODUCT VALUATION Federal Coal § 1206.257 Valuation standards for ad valorem leases. (a) This section is applicable to coal leases on Federal lands which provide for the... is inconsistent with the requirements of these regulations. (2) Any Federal lessee will make...

Council tax valuation bands and contacts with a GP out-of-hours service.

PubMed

Beale, Norman; Taylor, Gordon; Gwynne, Mark; Peart, Carole

2006-04-01

UK GPs are no longer responsible for the organisation of out-of-hours care for their patients, but resources remains capitation-based. This cross-sectional study tests whether council tax valuation bands can predict the demand for such services. All out-of-hours contacts made by patients in North Wiltshire over 4 months were classified by council tax band; frequencies compared with official population statistics. Council tax band predicts out-of-hours GP workload irrespective of age and sex: the more modest the home, the higher the GP contact rate. It may prove more difficult to sustain out-of-hours services in deprived parts of the UK.

External Validity of Contingent Valuation: Comparing Hypothetical and Actual Payments.

PubMed

Ryan, Mandy; Mentzakis, Emmanouil; Jareinpituk, Suthi; Cairns, John

2017-11-01

Whilst contingent valuation is increasingly used in economics to value benefits, questions remain concerning its external validity that is do hypothetical responses match actual responses? We present results from the first within sample field test. Whilst Hypothetical No is always an Actual No, Hypothetical Yes exceed Actual Yes responses. A constant rate of response reversals across bids/prices could suggest theoretically consistent option value responses. Certainty calibrations (verbal and numerical response scales) minimise hypothetical-actual discrepancies offering a useful solution. Helping respondents resolve uncertainty may reduce the discrepancy between hypothetical and actual payments and thus lead to more accurate policy recommendations. Copyright © 2016 John Wiley & Sons, Ltd. Copyright © 2016 John Wiley & Sons, Ltd.

Economic Valuation of Air Force Environmental Resources: A Contingent Valuation Case Study.

DTIC Science & Technology

1996-12-01

Empirical Measures of Welfare Change: A Comparison of Non-market Techniques," Land Economics: 156-175 (Vol. 61, No. 2, 1985). Sen , Amartya K...shackles of the traditional [observed] approach" ( Sen , 1977). The flexibility of a properly designed contingent valuation study allows CVM to measure

19 CFR 10.18 - Valuation of assembled articles.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 19 Customs Duties 1 2010-04-01 2010-04-01 false Valuation of assembled articles. 10.18 Section 10... THE TREASURY ARTICLES CONDITIONALLY FREE, SUBJECT TO A REDUCED RATE, ETC. General Provisions Articles Assembled Abroad with United States Components § 10.18 Valuation of assembled articles. As in the case of...

19 CFR 10.18 - Valuation of assembled articles.

Code of Federal Regulations, 2014 CFR

2014-04-01

... 19 Customs Duties 1 2014-04-01 2014-04-01 false Valuation of assembled articles. 10.18 Section 10... THE TREASURY ARTICLES CONDITIONALLY FREE, SUBJECT TO A REDUCED RATE, ETC. General Provisions Articles Assembled Abroad with United States Components § 10.18 Valuation of assembled articles. As in the case of...

19 CFR 10.18 - Valuation of assembled articles.

Code of Federal Regulations, 2013 CFR

2013-04-01

... 19 Customs Duties 1 2013-04-01 2013-04-01 false Valuation of assembled articles. 10.18 Section 10... THE TREASURY ARTICLES CONDITIONALLY FREE, SUBJECT TO A REDUCED RATE, ETC. General Provisions Articles Assembled Abroad with United States Components § 10.18 Valuation of assembled articles. As in the case of...

19 CFR 10.18 - Valuation of assembled articles.

Code of Federal Regulations, 2011 CFR

2011-04-01

... 19 Customs Duties 1 2011-04-01 2011-04-01 false Valuation of assembled articles. 10.18 Section 10... THE TREASURY ARTICLES CONDITIONALLY FREE, SUBJECT TO A REDUCED RATE, ETC. General Provisions Articles Assembled Abroad with United States Components § 10.18 Valuation of assembled articles. As in the case of...

19 CFR 10.18 - Valuation of assembled articles.

Code of Federal Regulations, 2012 CFR

2012-04-01

... 19 Customs Duties 1 2012-04-01 2012-04-01 false Valuation of assembled articles. 10.18 Section 10... THE TREASURY ARTICLES CONDITIONALLY FREE, SUBJECT TO A REDUCED RATE, ETC. General Provisions Articles Assembled Abroad with United States Components § 10.18 Valuation of assembled articles. As in the case of...

78 FR 25008 - Indian Oil Valuation Negotiated Rulemaking Committee; Meeting

Federal Register 2010, 2011, 2012, 2013, 2014

2013-04-29

...; DS63610300 DR2PS0000.CH7000 134D0102R2] 30 CFR Part 1206 Indian Oil Valuation Negotiated Rulemaking Committee... Natural Resources Revenue (ONRR) announces additional meetings for the Indian Oil Valuation Negotiated Rulemaking Committee (Committee). The Committee membership includes representatives from Indian tribes...

48 CFR 31.205-52 - Asset valuations resulting from business combinations.

Code of Federal Regulations, 2014 CFR

2014-10-01

... 48 Federal Acquisition Regulations System 1 2014-10-01 2014-10-01 false Asset valuations resulting from business combinations. 31.205-52 Section 31.205-52 Federal Acquisition Regulations System FEDERAL... Commercial Organizations 31.205-52 Asset valuations resulting from business combinations. (a) For tangible...

48 CFR 31.205-52 - Asset valuations resulting from business combinations.

Code of Federal Regulations, 2011 CFR

2011-10-01

... 48 Federal Acquisition Regulations System 1 2011-10-01 2011-10-01 false Asset valuations resulting from business combinations. 31.205-52 Section 31.205-52 Federal Acquisition Regulations System FEDERAL... Commercial Organizations 31.205-52 Asset valuations resulting from business combinations. (a) For tangible...

48 CFR 31.205-52 - Asset valuations resulting from business combinations.

Code of Federal Regulations, 2012 CFR

2012-10-01

... 48 Federal Acquisition Regulations System 1 2012-10-01 2012-10-01 false Asset valuations resulting from business combinations. 31.205-52 Section 31.205-52 Federal Acquisition Regulations System FEDERAL... Commercial Organizations 31.205-52 Asset valuations resulting from business combinations. (a) For tangible...

48 CFR 31.205-52 - Asset valuations resulting from business combinations.

Code of Federal Regulations, 2013 CFR

2013-10-01

... 48 Federal Acquisition Regulations System 1 2013-10-01 2013-10-01 false Asset valuations resulting from business combinations. 31.205-52 Section 31.205-52 Federal Acquisition Regulations System FEDERAL... Commercial Organizations 31.205-52 Asset valuations resulting from business combinations. (a) For tangible...

48 CFR 31.205-52 - Asset valuations resulting from business combinations.

Code of Federal Regulations, 2010 CFR

2010-10-01

... 48 Federal Acquisition Regulations System 1 2010-10-01 2010-10-01 false Asset valuations resulting from business combinations. 31.205-52 Section 31.205-52 Federal Acquisition Regulations System FEDERAL... Commercial Organizations 31.205-52 Asset valuations resulting from business combinations. (a) For tangible...

12 CFR 226.42 - Valuation independence.

Code of Federal Regulations, 2011 CFR

2011-01-01

... valuation from consideration for future engagement because the person reports a value for the consumer's..., in the property or transaction for which the valuation is or will be performed. (ii) Employees and... violates paragraph (d)(1)(i) of this section based solely on the fact that the person— (A) Is an employee...

Workshop: Improving the Assessment and Valuation of Climate Change Impacts for Policy and Regulatory Analysis: Modeling Climate Change Impacts and Associated Economic Damages (2010 - part 1)

EPA Pesticide Factsheets

The purpose of this workshop Improving the Assessment and Valuation of Climate Change Impacts for Policy and Regulatory Analysis. focused on conceptual and methodological issues - integrated assessment modeling and valuation.

30 CFR 206.153 - Valuation standards-processed gas.

Code of Federal Regulations, 2010 CFR

2010-07-01

..., prices received in spot sales of residue gas or gas plant products, other reliable public sources of... MANAGEMENT PRODUCT VALUATION Federal Gas § 206.153 Valuation standards—processed gas. (a)(1) This section... to this section shall be the combined value of the residue gas and all gas plant products determined...

IMPROVED VALUATION OF ECOLOGICAL BENEFITS ASSOCIATED WITH AQUATIC LIVING RESOURCES: DEVELOPMENT AND TESTING OF INDICATOR-BASED STATED PREFERENCE VALUATION AND TRANSFER

EPA Science Inventory

In addition to development and systematic qualitative/quantitative testing of indicator-based valuation for aquatic living resources, the proposed work will improve interdisciplinary mechanisms to model and communicate aquatic ecosystem change within SP valuation—an area...

36 CFR 254.42 - Valuation of tracts.

Code of Federal Regulations, 2010 CFR

2010-07-01

... 36 Parks, Forests, and Public Property 2 2010-07-01 2010-07-01 false Valuation of tracts. 254.42 Section 254.42 Parks, Forests, and Public Property FOREST SERVICE, DEPARTMENT OF AGRICULTURE LANDOWNERSHIP ADJUSTMENTS Conveyance of Small Tracts § 254.42 Valuation of tracts. (a) Approximately equal value shall be...

18 CFR 4.10 - Valuation data.

Code of Federal Regulations, 2011 CFR

2011-04-01

... 18 Conservation of Power and Water Resources 1 2011-04-01 2011-04-01 false Valuation data. 4.10 Section 4.10 Conservation of Power and Water Resources FEDERAL ENERGY REGULATORY COMMISSION, DEPARTMENT OF... Valuation data. (a) Notification of Commission. In every case arising under section 23(a) of the Federal...

18 CFR 4.10 - Valuation data.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 18 Conservation of Power and Water Resources 1 2010-04-01 2010-04-01 false Valuation data. 4.10 Section 4.10 Conservation of Power and Water Resources FEDERAL ENERGY REGULATORY COMMISSION, DEPARTMENT OF... Valuation data. (a) Notification of Commission. In every case arising under section 23(a) of the Federal...

7 CFR 4290.650 - Requirement to report portfolio valuations to the Secretary

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 15 2010-01-01 2010-01-01 false Requirement to report portfolio valuations to the Secretary 4290.650 Section 4290.650 Agriculture Regulations of the Department of Agriculture (Continued... Reporting Requirements for Rbics § 4290.650 Requirement to report portfolio valuations to the Secretary You...

10 myths of healthcare business valuation.

PubMed

Robeson, J David; Kaplan, Karin Chernoff

2008-10-01

*Acceptance of common myths regarding business valuations can undermine a hospital's efforts to successfully negotiate deals with physicians. *Hospitals need to clearly understand the nature of fair market value (FMV), the use of multiples, the "guideline company technique," whether the FMV can be based on acute care revenue stream, the physician compensation model used in the valuation, and the applicability of the physician's historical production level. *Other matters that warrant careful consideration include whether to tax effect, whether to pay for goodwill, and whether obsolescence can be accounted for in the valuation.

Measuring the value of healthcare business assets.

PubMed

Evans, C J

2000-04-01

Healthcare organizations obtain valuations of business assets for many reasons, including to support decisions regarding potential mergers, sale of business components, or financing; for tax assessments; and for defense against law-suits. If compliance with regulations may be an issue, such as when a not-for-profit organization is involved in a transaction, healthcare organizations should seek an independent appraisal to ensure that applicable legal standards are met. Whether or not regulatory issues are involved, however, an accurate and useful valuation of business assets depends on many factors. Financial managers must understand the purpose and function of the valuation, choice of appropriate valuation techniques, proper assessment of intangible value, use of realistic growth rates, appropriate emphasis on key focus areas of the valuation (e.g., risk and future income streams), and an accounting of physician compensation.

Societal and economic valuation of technology-transfer deals

NASA Astrophysics Data System (ADS)

Holmes, Joseph S., Jr.

2009-09-01

The industrial adoption of concepts such as open innovation brings new legitimacy to activities technology-transfer professionals have conducted for over 20 years. This movement highlights the need for an increased understanding of the valuation of intellectual property (IP) and technology-transfer deals. Valuation, though a centerpiece of corporate finance, is more challenging when applied to the inherent uncertainty surrounding innovation. Technology-transfer professionals are often overwhelmed by the complexity and data requirements of valuation techniques and skeptical of their applicability to and utility for technology transfer. The market longs for an approach which bridges the gap between valuation fundamentals and technology-transfer realities. This paper presents the foundations of a simple, flexible, precise/accurate, and useful framework for considering the valuation of technology-transfer deals. The approach is predicated on a 12-factor model—a 3×4 value matrix predicated on categories of economic, societal, and strategic value. Each of these three categories consists of three core subcategories followed by a fourth "other" category to facilitate inevitable special considerations. This 12-factor value matrix provides a framework for harvesting data during deals and for the application of best-of-breed valuation techniques which can be employed on a per-factor basis. Future work will include framework implementation within a database platform.

Testing the convergent validity of the contingent valuation and travel cost methods in valuing the benefits of health care.

PubMed

Clarke, Philip M

2002-03-01

In this study, the convergent validity of the contingent valuation method (CVM) and travel cost method (TCM) is tested by comparing estimates of the willingness to pay (WTP) for improving access to mammographic screening in rural areas of Australia. It is based on a telephone survey of 458 women in 19 towns, in which they were asked about their recent screening behaviour and their WTP to have a mobile screening unit visit their nearest town. After eliminating missing data and other non-usable responses the contingent valuation experiment and travel cost model were based on information from 372 and 319 women, respectively. Estimates of the maximum WTP for the use of mobile screening units were derived using both methods and compared. The highest mean WTP estimated using the TCM was $83.10 (95% C.I. $99.06-$68.53), which is significantly less than the estimate of $148.09 ($131.13-$166.60) using the CVM. This could be due to the CVM estimates also reflecting non-use values such as altruism, or a range of potential biases that are known to affect both methods. Further tests of validity are required in order to gain a greater understanding of the relationship between these two methods of estimating WTP. Copyright 2001 John Wiley & Sons, Ltd.

International comparison of experience-based health state values at the population level.

PubMed

Heijink, Richard; Reitmeir, Peter; Leidl, Reiner

2017-07-07

Decision makers need to know whether health state values, an important component of summary measures of health, are valid for their target population. A key outcome is the individuals' valuation of their current health. This experience-based perspective is increasingly used to derive health state values. This study is the first to compare such experience-based valuations at the population level across countries. We examined the relationship between respondents' self-rated health as measured by the EQ-VAS, and the different dimensions and levels of the EQ-5D-3 L. The dataset included almost 32,000 survey respondents from 15 countries. We estimated generalized linear models with logit link function, including country-specific models and pooled-data models with country effects. The results showed significant and meaningful differences in the valuation of health states and individual health dimensions between countries, even though similarities were present too. Between countries, coefficients correlated positively for the values of mobility, self-care and usual activities, but not for the values of pain and anxiety, thus underlining structural differences. The findings indicate that, ideally, population-specific experience-based value sets are developed and used for the calculation of health outcomes. Otherwise, sensitivity analyses are needed. Furthermore, transferring the results of foreign studies into the national context should be performed with caution. We recommend future studies to investigate the causes of differences in experience-based health state values through a single international study possibly complemented with qualitative research on the determinants of valuation.

A test of concordance between patient and psychiatrist valuations of multiple treatment goals for schizophrenia

PubMed Central

Bridges, John F. P.; Slawik, Lara; Schmeding, Annette; Reimer, Jens; Naber, Dieter; Kuhnigk, Olaf

2011-01-01

Abstract Background  While much discussion has been placed on the problem of poor compliance in the treatment of schizophrenia, there has been little discussion on the concordance between patients and psychiatrists, an important contributing factor to patient‐centred care. Objective  To estimate the concordance between patients’ and psychiatrists’ (ordinal and cardinal) valuations of multiple goals for schizophrenia treatment and to illustrate the utility of the self‐explicated method in valuing a large number of treatment goals. Design  Twenty treatment goals were identified during focus groups and literature review and were presented to patients and psychiatrists during structured interviews. Respondents were asked to rank the multiple treatment goals and rate them on a 5‐point Likert scale. Three scores were calculated based on the ranking (1–20), rating (Likert scale) (1–5) and a self‐explicated method estimated as the product of rating and ranking score (1–100). Concordance was tested using Spearman’s rho for overall ordinal rankings and via anova and F‐test for the cardinal values assigned to a specific treatment goal. Participants  A total of 105 outpatients diagnosed with schizophrenia and 160 psychiatrists in Germany. Results  Patient and psychiatrist values were concordant when the ordinal properties of their valuations were assessed by rating (ρ = 0.63; P = 0.002), ranking (ρ = 0.51; P = 0.02) and self‐explicated methods (ρ = 0.54; P = 0.01). Significant discordances were found when comparing the cardinal value placed on any given treatment goal using all three approaches, but the self‐explicated method produced a more discerning statistic. Relative to patients, psychiatrists significantly (P < 0.05) overvalued reduced lack of emotion, improved sexual pleasure and improved communication while undervaluing reuptake of activities of daily living, improved satisfaction and recovered capacity for work. Conclusions  While there is an overall concordance between patients’ and psychiatrists’ valuation, significantly different valuations on specific goals can be identified. Here, psychiatrists tend to focus on ‘textbook’ outcomes, while patients are more concerned with functioning and living a normal life. This study also demonstrates the importance of comparing the concordance in treatment goals and the importance of preference‐based methods, such as the self‐explicated method, in the study of concordance. PMID:21668795

Analysis of the uncertainty in the monetary valuation of ecosystem services--A case study at the river basin scale.

PubMed

Boithias, Laurie; Terrado, Marta; Corominas, Lluís; Ziv, Guy; Kumar, Vikas; Marqués, Montse; Schuhmacher, Marta; Acuña, Vicenç

2016-02-01

Ecosystem services provide multiple benefits to human wellbeing and are increasingly considered by policy-makers in environmental management. However, the uncertainty related with the monetary valuation of these benefits is not yet adequately defined or integrated by policy-makers. Given this background, our aim was to quantify different sources of uncertainty when performing monetary valuation of ecosystem services, in order to provide a series of guidelines to reduce them. With an example of 4 ecosystem services (i.e., water provisioning, waste treatment, erosion protection, and habitat for species) provided at the river basin scale, we quantified the uncertainty associated with the following sources: (1) the number of services considered, (2) the number of benefits considered for each service, (3) the valuation metrics (i.e. valuation methods) used to value benefits, and (4) the uncertainty of the parameters included in the valuation metrics. Results indicate that the highest uncertainty was caused by the number of services considered, as well as by the number of benefits considered for each service, whereas the parametric uncertainty was similar to the one related to the selection of valuation metric, thus suggesting that the parametric uncertainty, which is the only uncertainty type commonly considered, was less critical than the structural uncertainty, which is in turn mainly dependent on the decision-making context. Given the uncertainty associated to the valuation structure, special attention should be given to the selection of services, benefits and metrics according to a given context. Copyright © 2015 Elsevier B.V. All rights reserved.

Patient Experience-based Value Sets: Are They Stable?

PubMed

Pickard, A Simon; Hung, Yu-Ting; Lin, Fang-Ju; Lee, Todd A

2017-11-01

Although societal preference weights are desirable to inform resource-allocation decision-making, patient experienced health state-based value sets can be useful for clinical decision-making, but context may matter. To estimate EQ-5D value sets using visual analog scale (VAS) ratings for patients undergoing knee replacement surgery and compare the estimates before and after surgery. We used the Patient Reported Outcome Measures data collected by the UK National Health Service on patients undergoing knee replacement from 2009 to 2012. Generalized least squares regression models were used to derive value sets based on the EQ-5D-3 level using a development sample before and after surgery, and model performance was examined using a validation sample. A total of 90,450 preoperative and postoperative valuations were included. For preoperative valuations, the largest decrement in VAS values was associated with the dimension of anxiety/depression, followed by self-care, mobility, usual activities, and pain/discomfort. However, pain/discomfort had a greater impact on VAS value decrement in postoperative valuations. Compared with preoperative health problems, postsurgical health problems were associated with larger value decrements, with significant differences in several levels and dimensions, including level 2 of mobility, level 2/3 of usual activities, level 3 of pain/discomfort, and level 3 of anxiety/depression. Similar results were observed across subgroups stratified by age and sex. Findings suggest patient experience-based value sets are not stable (ie, context such as timing matters). However, the knowledge that lower values are assigned to health states postsurgery compared with presurgery may be useful for the patient-doctor decision-making process.

Sequential Auctions in Uncertain Information Settings

NASA Astrophysics Data System (ADS)

Fatima, Shaheen; Wooldridge, Michael; Jennings, Nicholas R.

This paper analyzes sequential auctions for private value objects using second-price sealed-bid rules. Now, the equilibrium bids for such auctions depend on the information uncertainty of the bidders. Specifically, there are three key auction parameters that the bidders could be uncertain about: the valuations of the objects for sale, the number of objects for sale, and the number of participating bidders. We analyse the bidding behaviour for each of these three sources of uncertainty. For each setting, we first find the equilibrium bidding strategies for the individual auctions that comprise a series. Then we analyze the effect of these uncertainties on the computational and economic properties of the equilibrium solution. The former analysis is essential if we want to use software agents to bid on our behalf. The latter is essential because both the auctioneer and the bidders want to know how these uncertainties affect their profits. Thus we compare the outcomes for these settings from the perspective of the bidders (i.e., in terms of their profits), from the perspective of the auctioneer (i.e., in terms of his revenue), and from a global perspective (i.e., in terms of auction efficiency).

26 CFR 20.2013-4 - Valuation of property transferred.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Valuation of property transferred. 20.2013-4 Section 20.2013-4 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) ESTATE....2013-4 Valuation of property transferred. (a) For purposes of section 2013 and §§ 20.2013-1 to 20.2013...

26 CFR 20.2013-4 - Valuation of property transferred.

Code of Federal Regulations, 2011 CFR

2011-04-01

... 26 Internal Revenue 14 2011-04-01 2010-04-01 true Valuation of property transferred. 20.2013-4 Section 20.2013-4 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) ESTATE....2013-4 Valuation of property transferred. (a) For purposes of section 2013 and §§ 20.2013-1 to 20.2013...

13 CFR 108.503 - NMVC Company's adoption of an approved valuation policy.

Code of Federal Regulations, 2010 CFR

2010-01-01

... following the close of the quarter. (e) Review of valuations by independent public accountant. (1) For valuations performed as of the end of your fiscal year, your independent public accountant must review your... independent public accountant's report on your audited annual financial statements (SBA Form 468) must include...

Not an Inexhaustible Resource: Valuation and Depreciation of Library Collections in the Queensland Department of Education.

ERIC Educational Resources Information Center

Cram, Jennifer

1997-01-01

Anecdotal evidence suggests that valuation of library collections is not being addressed by library managers, despite the growing popularity of accrual accounting in publicly funded institutions. This article discusses the implications of asset valuation and describes the development and implementation a method for valuing the library collections…

29 CFR 4044.71 - Valuation of annuity benefits.

Code of Federal Regulations, 2010 CFR

2010-07-01

... 29 Labor 9 2010-07-01 2010-07-01 false Valuation of annuity benefits. 4044.71 Section 4044.71... Valuation of annuity benefits. The value of a benefit which is to be paid as an annuity is the cost of purchasing the annuity on the date of distribution from an insurer under the qualifying bid. ...

Modeling Valuations from Experience: A Comment on Ashby and Rakow (2014)

ERIC Educational Resources Information Center

Wulff, Dirk U.; Pachur, Thorsten

2016-01-01

What are the cognitive mechanisms underlying subjective valuations formed on the basis of sequential experiences of an option's possible outcomes? Ashby and Rakow (2014) have proposed a sliding window model (SWIM), according to which people's valuations represent the average of a limited sample of recent experiences (the size of which is estimated…

Bond Valuation for Colleges and Universities.

ERIC Educational Resources Information Center

National Association of College and University Business Officers, Washington, DC.

Bond valuation is examined to provide college administrators a more thorough understanding of the process to help them in developing their market values, or to help them in moving to a market valuation on bond holdings. Two methods presently used to value bonds, a matrix system and a trader quotation method, are described. An overview of bond…

26 CFR 25.2512-4 - Valuation of notes.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Valuation of notes. 25.2512-4 Section 25.2512-4... GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954 Transfers § 25.2512-4 Valuation of notes. The fair market... the property, if any, pledged or mortgaged as security is insufficient to satisfy it. ...

The Valuation of Non-Monetary Consumption in Household Surveys

ERIC Educational Resources Information Center

Muller, Christophe

2005-01-01

Many social indicators are based on household consumption information. The valuation of non-monetary operations is crucial for the analysis of consumption surveys in developing countries because of the importance of own-consumption and transfers in kind. What are the price statistics used in the valuation of consumption indicators? How is the…

17 CFR 270.2a-2 - Effect of eliminations upon valuation of portfolio securities.

Code of Federal Regulations, 2010 CFR

2010-04-01

... valuation of portfolio securities. 270.2a-2 Section 270.2a-2 Commodity and Securities Exchanges SECURITIES... Effect of eliminations upon valuation of portfolio securities. During any fiscal quarter in which elimination of securities from the portfolio of an investment company occur, the securities remaining in the...

13 CFR 107.650 - Requirement to report portfolio valuations to SBA.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Requirement to report portfolio valuations to SBA. 107.650 Section 107.650 Business Credit and Assistance SMALL BUSINESS ADMINISTRATION SMALL... Reporting Requirements for Licensees § 107.650 Requirement to report portfolio valuations to SBA. You must...

Real options and asset valuation in competitive energy markets

NASA Astrophysics Data System (ADS)

Oduntan, Adekunle Richard

The focus of this work is to develop a robust valuation framework for physical power assets operating in competitive markets such as peaking or mid-merit thermal power plants and baseload power plants. The goal is to develop a modeling framework that can be adapted to different energy assets with different types of operating flexibilities and technical constraints and which can be employed for various purposes such as capital budgeting, business planning, risk management and strategic bidding planning among others. The valuation framework must also be able to capture the reality of power market rules and opportunities, as well as technical constraints of different assets. The modeling framework developed conceptualizes operating flexibilities of power assets as "switching options' whereby the asset operator decides at every decision point whether to switch from one operating mode to another mutually exclusive mode, within the limits of the equipment constraints of the asset. As a current decision to switch operating modes may affect future operating flexibilities of the asset and hence cash flows, a dynamic optimization framework is employed. The developed framework accounts for the uncertain nature of key value drivers by representing them with appropriate stochastic processes. Specifically, the framework developed conceptualizes the operation of a power asset as a multi-stage decision making problem where the operator has to make a decision at every stage to alter operating mode given currently available information about key value drivers. The problem is then solved dynamically by decomposing it into a series of two-stage sub-problems according to Bellman's optimality principle. The solution algorithm employed is the Least Squares Monte Carlo (LSM) method. The developed valuation framework was adapted for a gas-fired thermal power plant, a peaking hydroelectric power plant and a baseload power plant. This work built on previously published real options valuation methodologies for gas-fired thermal power plants by factoring in uncertainty from gas supply/consumption imbalance which is usually faced by gas-fired power generators. This source of uncertainty arises because of mismatch between natural gas and electricity wholesale markets. Natural gas markets in North America operate on a day-ahead basis while power plants are dispatched in real time. Inability of a power generator to match its gas supply and consumption in real time, leading to unauthorized gas over-run or under-run, attracts penalty charges from the gas supplier to the extent that the generator can not manage the imbalance through other means. By considering an illustrative power plant operating in Ontario, we show effects of gas-imbalance on dispatch strategies on a daily cycling operation basis and the resulting impact on net revenue. Similarly, we employ the developed valuation framework to value a peaking hydroelectric power plant. This application also builds on previous real options valuation work for peaking hydroelectric power plants by considering their operations in a joint energy and ancillary services market. Specifically, the valuation model is developed to capture the value of a peaking power plant whose owner has the flexibility to participate in a joint operating reserve market and an energy market, which is currently the case in the Ontario wholesale power market. The model factors in water inflow uncertainty into the reservoir forebay of a hydroelectric facility and also considers uncertain energy and operating reserve prices. The switching options considered include (i) a joint energy and operating reserve bid (ii) an energy only bid and (iii) a do nothing (idle) strategy. Being an energy limited power plant, by doing nothing at a decision interval, the power asset operator is able to timeshift scarce water for use at a future period when market situations are expected to be better. Finally, the developed valuation framework was employed to optimize life-cycle management decisions of a baseload power plant, such as a nuclear power plant. Given uncertainty of long-term value drivers, including power prices, equipment performance and the relationship between current life cycle spending and future equipment degradation, optimization is carried out with the objective of minimizing overall life-cycle related costs. These life-cycle costs include (i) lost revenue during planned and unplanned outages, (ii) potential costs of future equipment degradation due to inadequate preventative maintenance, and (iii) the direct costs of implementing the life-cycle projects. The switching options in this context include the option to shutdown the power plant in order to execute a given preventative maintenance and inspection project and the option to keep the option "alive" by choosing to delay a planned life-cycle activity.

Does the Introduction of the Ranking Task in Valuation Studies Improve Data Quality and Reduce Inconsistencies? The Case of the EQ-5D-5L.

PubMed

Ramos-Goñi, Juan M; Rand-Hendriksen, Kim; Pinto-Prades, Jose Luis

2016-06-01

Time trade-off (TTO)-based valuation studies for the three-level version of the EuroQol five-dimensional questionnaire (EQ-5D) typically started off with a ranking task (ordering the health states by preference). This was not included in the protocol for the five-level EQ-5D (EQ-5D-5L) valuation study. To test whether reintroducing a ranking task before the composite TTO (C-TTO) could help to reduce inconsistencies in C-TTO responses and improve the data quality. Respondents were randomly assigned to three study arms. The control arm was the present EQ-5D-5L study protocol, without ranking. The second arm (ranking without sorting) preceded the present protocol by asking respondents to rank the target health states using physical cards. The states were then valued in random order using C-TTO. In the third arm (ranking and sorting), the ranked states remained visible through the C-TTO tasks and the order of valuation was determined by the ranking. The study used only 10 EQ-5D-5L health states. We compared the C-TTO-based inconsistent pairs of health states and ties. The final sample size was 196 in the control arm, 205 in the ranking without sorting arm, and 199 in the ranking and sorting arm. The percentages of ties by respondents were 15.1%, 12.5%, and 12.6% for the control arm, the ranking without sorting arm, and the ranking and sorting arm, respectively. The extra cost for adding the ranking task was about 15%. The benefit does not justify the effort involved in the ranking task. For this reason, the addition of the ranking task to the present EQ-5D-5L valuation protocol is not an attractive option. Copyright © 2016 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

30 CFR 210.154 - What documents or other information must I submit for Federal oil valuation purposes?

Code of Federal Regulations, 2010 CFR

2010-07-01

... and Reports-Oil, Gas, and Geothermal Resources § 210.154 What documents or other information must I submit for Federal oil valuation purposes? (a) General. The MMS may require you to submit documents or... submit for Federal oil valuation purposes? 210.154 Section 210.154 Mineral Resources MINERALS MANAGEMENT...

Moving beyond the exchange value in the nonmarket valuation of ecosystem services

Treesearch

Karen E. Allen; Rebecca Moore

2016-01-01

There has been much discussion across the ecosystem services literature as to the role of economic valuation in identifying ecosystem service values and shaping policy. This article demonstrates a non-typical use of a nonmarket valuation technique known as the stated choice experiment (CE) for understanding a range of public preferences for stream-related...

26 CFR 301.7517-1 - Furnishing on request of statement explaining estate or gift valuation.

Code of Federal Regulations, 2010 CFR

2010-04-01

... estate or gift valuation. 301.7517-1 Section 301.7517-1 Internal Revenue INTERNAL REVENUE SERVICE... estate or gift valuation. (a) In general. Section 7517 requires the Service to furnish to a taxpayer, at the request of that taxpayer, a statement explaining the estate, gift or generation-skipping transfer...

77 FR 30040 - Self-Regulatory Organizations; New York Stock Exchange LLC; Notice of Filing and Immediate...

Federal Register 2010, 2011, 2012, 2013, 2014

2012-05-21

... proposes to amend, the Domestic Earnings Test and the Domestic Valuation/Revenue with Cash Flow Test. In... amend, the International Earnings Test and the International Valuation/Revenue with Cash Flow Test.\\7... Domestic Valuation/Revenue with Cash Flow Test, the applicant must have (1) At least $500 million in global...

Application of Real Options Theory to DoD Software Acquisitions

DTIC Science & Technology

2009-08-01

words.) The traditional real options valuation methodology, when enhanced and properly formulated around a proposed or existing software investment...Std 239-18 - ii - THIS PAGE INTENTIONALLY LEFT BLANK - iii - Abstract The traditional real options valuation ...founder and CEO of Real Options Valuation , Inc., a consulting, training, and software development firm specializing in strategic real options

Application of Real Options Theory to DoD Software Acquisitions

DTIC Science & Technology

2009-02-20

Future Combat Systems Program. Washington, DC. U.S. Government Printing Office. Damodaran , A. (2007). Investment Valuation : The Options To Expand... valuation methodology, when enhanced and properly formulated around a proposed or existing software investment employing the spiral development approach...THIS PAGE INTENTIONALLY LEFT BLANK iii ABSTRACT The traditional real options valuation methodology, when enhanced and properly formulated

26 CFR 1.412(c)(2)-1 - Valuation of plan assets; reasonable actuarial valuation methods.

Code of Federal Regulations, 2014 CFR

2014-04-01

... computed by— (i) Determining the fair market value of plan assets at least annually, (ii) Adding the...) In determining the adjusted value of plan assets for a prior valuation date, there is added to the... market value, amounts are subtracted from this account and added, to the extent necessary, to raise the...

26 CFR 20.2031-4 - Valuation of notes.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Valuation of notes. 20.2031-4 Section 20.2031-4... ESTATE TAX; ESTATES OF DECEDENTS DYING AFTER AUGUST 16, 1954 Gross Estate § 20.2031-4 Valuation of notes... of the party or parties liable, or for other cause), and that any property pledged or mortgaged as...

Oak woodland economics: a contingent valuation of conversion alternatives

Treesearch

Richard P. Thompson; Jay E. Noel; Sarah P. Cross

2002-01-01

Decisions on how much land should be devoted to oak woodland preservation is ultimately determined by society's valuation of its benefits and relative scarcity. Scarcity value can be measured by people's willingness-to-pay (WTP) to prevent oak woodland conversion to higher value land uses. In this study, we used the contingent valuation (CV) method to...

Spring cleaning: rural water impacts, valuation, and property rights institutions.

PubMed

Kremer, Michael; Leino, Jessica; Miguel, Edward; Zwane, Alix Peterson

2011-01-01

Using a randomized evaluation in Kenya, we measure health impacts of spring protection, an investment that improves source water quality. We also estimate households' valuation of spring protection and simulate the welfare impacts of alternatives to the current system of common property rights in water, which limits incentives for private investment. Spring infrastructure investments reduce fecal contamination by 66%, but household water quality improves less, due to recontamination. Child diarrhea falls by one quarter. Travel-cost based revealed preference estimates of households' valuations are much smaller than both stated preference valuations and health planners' valuations, and are consistent with models in which the demand for health is highly income elastic. We estimate that private property norms would generate little additional investment while imposing large static costs due to above-marginal-cost pricing, private property would function better at higher income levels or under water scarcity, and alternative institutions could yield Pareto improvements.

Mere exposure and the endowment effect on consumer decision making.

PubMed

Tom, Gail; Nelson, Carolyn; Srzentic, Tamara; King, Ryan

2007-03-01

Previous researchers (e.g., J. A. Bargh, 1992, 2002) demonstrated the importance of nonconscious processes on consumer choice behavior. Using an advertisement, the authors determined the effect of two nonconscious processes--the mere exposure effect, which increases object preference by increasing consumer exposure to an object, and the endowment effect, which increases object valuation by providing consumer possession of an object--on consumer behavior. Although the mere exposure effect and endowment effect did not produce an interaction, they produced independent effects. The endowment effect increased object valuation but not object preference. The mere exposure effect increased object preference but not object valuation. Thus, at the unconscious level, an increase in object preference does not lead to an increase in object valuation, nor does an increase in object valuation lead to an increase in object preference. The authors discuss the importance of developing measures of unconscious process in advertising effectiveness.

Comparing Value of Urban Green Space Using Contingent Valuation and Travel Cost Methods

NASA Astrophysics Data System (ADS)

Chintantya, Dea; Maryono

2018-02-01

Green urban open space are an important element of the city. They gives multiple benefits for social life, human health, biodiversity, air quality, carbon sequestration, and water management. Travel Cost Method (TCM) and Contingent Valuation Method (CVM) are the most frequently used method in various studies that assess environmental good and services in monetary term for valuing urban green space. Both of those method are determined the value of urban green space through willingness to pay (WTP) for ecosystem benefit and collected data through direct interview and questionnaire. Findings of this study showed the weaknesses and strengths of both methods for valuing urban green space and provided factors influencing the probability of user's willingness to pay in each method.

Estimating residential price elasticity of demand for water: A contingent valuation approach

NASA Astrophysics Data System (ADS)

Thomas, John F.; Syme, Geoffrey J.

1988-11-01

Residential households in Perth, Western Australia have access to privately extracted groundwater as well as a public mains water supply, which has been charged through a two-part block tariff. A contingent valuation approach is developed to estimate price elasticity of demand for public supply. Results are compared with those of a multivariate time series analysis. Validation tests for the contingent approach are proposed, based on a comparison of predicted behaviors following hypothesised price changes with relevant independent data. Properly conducted, the contingent approach appears to be reliable, applicable where the available data do not favor regression analysis, and a fruitful source of information about social, technical, and behavioral responses to change in the price of water.

Dynamic learning and context-dependence in sequential, attribute-based, stated-preference valuation questions

Treesearch

Thomas P. Holmes; Kevin J. Boyle

2005-01-01

A hybrid stated-preference model is presented that combines the referendum contingent valuation response format with an experimentally designed set of attributes. A sequence of valuation questions is asked to a random sample in a mailout mail-back format. Econometric analysis shows greater discrimination between alternatives in the final choice in the sequence, and the...

41 CFR 302-7.201 - Is temporary storage in excess of authorized limits and excess valuation of goods and services...

Code of Federal Regulations, 2010 CFR

2010-07-01

... excess of authorized limits and excess valuation of goods and services payable at Government expense? 302... Government expense? No, charges for excess weight, valuation above the minimum amount, and services obtained... HOUSEHOLD GOODS AND PROFESSIONAL BOOKS, PAPERS, AND EQUIPMENT (PBP&E) Actual Expense Method § 302-7.201 Is...

41 CFR 302-7.201 - Is temporary storage in excess of authorized limits and excess valuation of goods and services...

Code of Federal Regulations, 2011 CFR

2011-07-01

... excess of authorized limits and excess valuation of goods and services payable at Government expense? 302... Government expense? No, charges for excess weight, valuation above the minimum amount, and services obtained... HOUSEHOLD GOODS AND PROFESSIONAL BOOKS, PAPERS, AND EQUIPMENT (PBP&E) Actual Expense Method § 302-7.201 Is...

A pseudo-sequential choice model for valuing multi-attribute environmental policies or programs in contingent valuation applications

Treesearch

Dmitriy Volinskiy; John C Bergstrom; Christopher M Cornwell; Thomas P Holmes

2010-01-01

The assumption of independence of irrelevant alternatives in a sequential contingent valuation format should be questioned. Statistically, most valuation studies treat nonindependence as a consequence of unobserved individual effects. Another approach is to consider an inferential process in which any particular choice is part of a general choosing strategy of a survey...

26 CFR 1.412(c)(2)-1 - Valuation of plan assets; reasonable actuarial valuation methods.

Code of Federal Regulations, 2013 CFR

2013-04-01

... valuation method must take into account fair market value by making use of the— (i) Fair market value... market value (under paragraph (c) of this section). (4) Defined benefit plans. (i) To satisfy the... changes in the fair market value of plan assets. The funding of plan benefits and the charges and credits...

26 CFR 1.412(c)(2)-1 - Valuation of plan assets; reasonable actuarial valuation methods.

Code of Federal Regulations, 2010 CFR

2010-04-01

... market value by making use of the— (i) Fair market value (determined under paragraph (c) of this section... requirements of section 412(c)(2)(A) solely on the basis of their fair market value (under paragraph (c) of... reasonble actuarial valuation methods designed to mitigate short-run changes in the fair market value of...

26 CFR 1.412(c)(2)-1 - Valuation of plan assets; reasonable actuarial valuation methods.

Code of Federal Regulations, 2012 CFR

2012-04-01

... valuation method must take into account fair market value by making use of the— (i) Fair market value... market value (under paragraph (c) of this section). (4) Defined benefit plans. (i) To satisfy the... changes in the fair market value of plan assets. The funding of plan benefits and the charges and credits...

26 CFR 1.412(c)(2)-1 - Valuation of plan assets; reasonable actuarial valuation methods.

Code of Federal Regulations, 2011 CFR

2011-04-01

... valuation method must take into account fair market value by making use of the— (i) Fair market value... market value (under paragraph (c) of this section). (4) Defined benefit plans. (i) To satisfy the... changes in the fair market value of plan assets. The funding of plan benefits and the charges and credits...

What ignited Forest Service interest in nonmarket valuation in fire economics?

Treesearch

John B. Loomis; Armando González-Cabán

2009-01-01

This paper traces the origin and evolution of the application of nonmarket valuation techniques to fire management within the USDA Forest Service. The motivation for contingent valuation (CVM) studies that quantify existence value is traced to the need for monetary benefits of protecting spotted owl old-growth forest habitat from fire in the early 1990s. Two large...

26 CFR 1.430(g)-1 - Valuation date and valuation of plan assets.

Code of Federal Regulations, 2010 CFR

2010-04-01

...) Valuation date—(1) In general. The determination of the funding target, target normal cost, and value of...—(1) In general—(i) General use of fair market value. Except as otherwise provided in this paragraph (c), the value of plan assets for purposes of section 430 is equal to the fair market value of plan...

Survey Response-Related Biases in Contingent Valuation: Concepts, Remedies, and Empirical Application to Valuing Aquatic Plant Management

Treesearch

Mark L. Messonnier; John C. Bergstrom; Chrisopher M. Cornwell; R. Jeff Teasley; H. Ken Cordell

2000-01-01

Simple nonresponse and selection biases that may occur in survey research such as contingent valuation applications are discussed and tested. Correction mechanisms for these types of biases are demonstrated. Results indicate the importance of testing and correcting for unit and item nonresponse bias in contingent valuation survey data. When sample nonresponse and...

Taxation indices of forest stand as the basis for cadastral valuation of forestlands

NASA Astrophysics Data System (ADS)

Kovyazin, V.; Belyaev, V.; Pasko, O.; Romanchikov, A.

2014-08-01

Cadastral valuation of forestlands is one of the problems of the modern economy. Valuation procedures depend either on the profitability of timbering or forest areas are not differentiated according to value. The authors propose the procedure based on taxation indices of strata. The most important factors influencing the valuation are determined. The dependence that allows establishing the relative cost of a certain forest area is defined. Knowing the cadastral value of a model area, it is possible to determine the values of all other sites. The evaluation results correlate with the Faustman procedure with slight difference in the absolute value.

Reward and social valuation deficits following ventromedial prefrontal damage.

PubMed

Moretti, Laura; Dragone, Davide; di Pellegrino, Giuseppe

2009-01-01

Lesion and imaging studies have implicated the ventromedial prefrontal cortex (vmPFC) in economic decisions and social interactions, yet its exact functions remain unclear. Here, we investigated the hypothesis that the vmPFC represents the subjective value or desirability of future outcomes during social decision-making. Both vmPFC-damaged patients and control participants acted as the responder in a single-round ultimatum game. To test outcome valuation, we contrasted concrete, immediately available gains with abstract, future ones. To test social valuation, we contrasted interactions with a human partner and those involving a computer. We found that, compared to controls, vmPFC patients substantially reduced their acceptance rate of unfair offers from a human partner, but only when financial gains were presented as abstract amounts to be received later. When the gains were visible and readily available, the vmPFC patients' acceptance of unfair offers was normal. Furthermore, unlike controls, vmPFC patients did not distinguish between unfair offers from a human agent and those from a computerized opponent. We conclude that the vmPFC encodes the expected value of abstract, future goals in a common neural currency that takes into account both reward and social signals in order to optimize economic decision-making.

Neural correlates of affective influence on choice.

PubMed

Piech, Richard M; Lewis, Jade; Parkinson, Caroline H; Owen, Adrian M; Roberts, Angela C; Downing, Paul E; Parkinson, John A

2010-03-01

Making the right choice depends crucially on the accurate valuation of the available options in the light of current needs and goals of an individual. Thus, the valuation of identical options can vary considerably with motivational context. The present study investigated the neural structures underlying context dependent evaluation. We instructed participants to choose from food menu items based on different criteria: on their anticipated taste or on ease of preparation. The aim of the manipulation was to assess which neural sites were activated during choice guided by incentive value, and which during choice based on a value-irrelevant criterion. To assess the impact of increased motivation, affect-guided choice and cognition-guided choice was compared during the sated and hungry states. During affective choice, we identified increased activity in structures representing primarily valuation and taste (medial prefrontal cortex, insula). During cognitive choice, structures showing increased activity included those implicated in suppression and conflict monitoring (lateral orbitofrontal cortex, anterior cingulate). Hunger influenced choice-related activity in the ventrolateral prefrontal cortex. Our results show that choice is associated with the use of distinct neural structures for the pursuit of different goals. Published by Elsevier Inc.

Modeling SF-6D Hong Kong standard gamble health state preference data using a nonparametric Bayesian method.

PubMed

Kharroubi, Samer A; Brazier, John E; McGhee, Sarah

2013-01-01

This article reports on the findings from applying a recently described approach to modeling health state valuation data and the impact of the respondent characteristics on health state valuations. The approach applies a nonparametric model to estimate a Bayesian six-dimensional health state short form (derived from short-form 36 health survey) health state valuation algorithm. A sample of 197 states defined by the six-dimensional health state short form (derived from short-form 36 health survey)has been valued by a representative sample of the Hong Kong general population by using standard gamble. The article reports the application of the nonparametric model and compares it to the original model estimated by using a conventional parametric random effects model. The two models are compared theoretically and in terms of empirical performance. Advantages of the nonparametric model are that it can be used to predict scores in populations with different distributions of characteristics than observed in the survey sample and that it allows for the impact of respondent characteristics to vary by health state (while ensuring that full health passes through unity). The results suggest an important age effect with sex, having some effect, but the remaining covariates having no discernible effect. The nonparametric Bayesian model is argued to be more theoretically appropriate than previously used parametric models. Furthermore, it is more flexible to take into account the impact of covariates. Copyright © 2013, International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc.

Faculty at Work: Focus on Teaching.

ERIC Educational Resources Information Center

Blackburn, Robert T.; And Others

1991-01-01

A study compared selected personal and environmental motivational variables in college faculty with allocation of work effort to teaching. Faculty represented the disciplines of English, chemistry, and psychology and various institution types. Self-valuation and perception of the environment motivators significantly accounted for the explained…

26 CFR 20.2032A-3 - Material participation requirements for valuation of certain farm and closely-held business real...

Code of Federal Regulations, 2014 CFR

2014-04-01

... valuation of certain farm and closely-held business real property. 20.2032A-3 Section 20.2032A-3 Internal... requirements for valuation of certain farm and closely-held business real property. (a) In general. Under... trade or business. If this election is made, the property will be valued on the basis of its value for...

26 CFR 20.2032A-3 - Material participation requirements for valuation of certain farm and closely-held business real...

Code of Federal Regulations, 2012 CFR

2012-04-01

... valuation of certain farm and closely-held business real property. 20.2032A-3 Section 20.2032A-3 Internal... requirements for valuation of certain farm and closely-held business real property. (a) In general. Under... trade or business. If this election is made, the property will be valued on the basis of its value for...

Using contingent valuation to value a noxious weeds control program: the effects of including an unsure response category

Treesearch

Patricia A. Champ; Anna Alberini; Ignacio Correas

2005-01-01

The National Oceanic and Atmospheric Administration Contingent Valuation panel recommended that a response category be included along with the vote in favor and vote against options associated with a referendum contingent valuation question that allows individuals to express lack of a well defined opinion. However, the recommendation did not include guidance on how to...

26 CFR 25.2512-6 - Valuation of certain life insurance and annuity contracts; valuation of shares in an open-end...

Code of Federal Regulations, 2010 CFR

2010-04-01

... annuity. The value of the gift is the cost of the contract. Example (2). An annuitant purchased from a... Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) ESTATE AND GIFT TAXES GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954 Transfers § 25.2512-6 Valuation of certain life insurance and annuity...

26 CFR 20.2032A-3 - Material participation requirements for valuation of certain farm and closely-held business real...

Code of Federal Regulations, 2010 CFR

2010-04-01

... valuation of certain farm and closely-held business real property. 20.2032A-3 Section 20.2032A-3 Internal... requirements for valuation of certain farm and closely-held business real property. (a) In general. Under... trade or business. If this election is made, the property will be valued on the basis of its value for...

Criterion and content validity of a novel structured haggling contingent valuation question format versus the bidding game and binary with follow-up format.

PubMed

Onwujekwe, Obinna

2004-02-01

Contingent valuation question formats that will be used to elicit willingness to pay for goods and services need to be relevant to the area they will be used in order for responses to be valid. A novel contingent valuation question format called the "structured haggling technique" (SH) that resembles the bargaining system in Nigerian markets was designed and its criterion and content validity compared with those of the bidding game (BG) and binary-with-follow-up (BWFU) technique. This was achieved by determining the willingness to pay (WTP) for insecticide-treated nets (ITNs) in Southeast Nigeria. Content validity was determined through observation of actual trading of untreated nets together with interviews with sellers and consumers. Criterion validity was determined by comparing stated and actual WTP. Stated WTP was determined using a questionnaire administered to 810 household heads and actual WTP was determined by offering the nets for sale to all respondents one month later. The phi (correlation) coefficient was used to compare criterion validity across question formats. The phi coefficients were SH (0.60: 95% C.I. 0.50-0.71), BG (0.42: 95% C.I. 0.29-0.54) and the BWFU (0.32: 95% C.I. 0.20-0.44), implying that the BG and SH had similar levels of criterion-validity while the BWFU was the least criterion-valid. However, the SH was the most content-valid. It is necessary to validate the findings in other areas where haggling is common. Future studies should establish the content validity of question formats in the contexts in which they will be used before administering questionnaires.

Aiding priority setting in health care: is there a role for the contingent valuation method?

PubMed

Olsen, J A

1997-01-01

The paper discusses some methodological and measurement aspects with the contingent valuation (CV) method which appear to create problems when eliciting preferences for the relative social valuation of alternative health care programmes. After pointing to biases which tend to exaggerate the true valuations, emphasis is placed on framing issues when applied to health care. Thereafter the paper discusses the extent to which preferences elicited through one's willingness to pay can be used to infer how the respondent would prioritize between the health care programmes in question. New empirical evidence is presented which suggest discrepancies between a CV ranking and the ranking expressed when making a direct ordinal comparison.

USA/USSR: Two Worlds Apart?

ERIC Educational Resources Information Center

Jahn, Harvey R.

1975-01-01

This paper sought to demonstrate that the framework guiding educational research must be modified to stress the selection of mutual areas of educational concern from a cross-national perspective and the use of valuative premises based on a comparative analysis of Soviet and American education. (Author/RK)

Processing speed enhances model-based over model-free reinforcement learning in the presence of high working memory functioning

PubMed Central

Schad, Daniel J.; Jünger, Elisabeth; Sebold, Miriam; Garbusow, Maria; Bernhardt, Nadine; Javadi, Amir-Homayoun; Zimmermann, Ulrich S.; Smolka, Michael N.; Heinz, Andreas; Rapp, Michael A.; Huys, Quentin J. M.

2014-01-01

Theories of decision-making and its neural substrates have long assumed the existence of two distinct and competing valuation systems, variously described as goal-directed vs. habitual, or, more recently and based on statistical arguments, as model-free vs. model-based reinforcement-learning. Though both have been shown to control choices, the cognitive abilities associated with these systems are under ongoing investigation. Here we examine the link to cognitive abilities, and find that individual differences in processing speed covary with a shift from model-free to model-based choice control in the presence of above-average working memory function. This suggests shared cognitive and neural processes; provides a bridge between literatures on intelligence and valuation; and may guide the development of process models of different valuation components. Furthermore, it provides a rationale for individual differences in the tendency to deploy valuation systems, which may be important for understanding the manifold neuropsychiatric diseases associated with malfunctions of valuation. PMID:25566131

A Formal Valuation Framework for Emotions and Their Control.

PubMed

Huys, Quentin J M; Renz, Daniel

2017-09-15

Computational psychiatry aims to apply mathematical and computational techniques to help improve psychiatric care. To achieve this, the phenomena under scrutiny should be within the scope of formal methods. As emotions play an important role across many psychiatric disorders, such computational methods must encompass emotions. Here, we consider formal valuation accounts of emotions. We focus on the fact that the flexibility of emotional responses and the nature of appraisals suggest the need for a model-based valuation framework for emotions. However, resource limitations make plain model-based valuation impossible and require metareasoning strategies to apportion cognitive resources adaptively. We argue that emotions may implement such metareasoning approximations by restricting the range of behaviors and states considered. We consider the processes that guide the deployment of the approximations, discerning between innate, model-free, heuristic, and model-based controllers. A formal valuation and metareasoning framework may thus provide a principled approach to examining emotions. Copyright © 2017 Society of Biological Psychiatry. Published by Elsevier Inc. All rights reserved.

Japanese consumer preferences for milk certified with the good agricultural practice(GAP) label.

PubMed

Aizaki, Hideo; Nanseki, Teruaki; Zhou, Hui

2013-01-01

This study examined Japanese consumers' valuation of a good agricultural practice (GAP) label on packaged milk and investigated the effect of detailed GAP information on valuation. A total of 624 Japanese consumers were asked to select their most preferred milk through an online survey. The milk was assumed to have three attributes: the GAP label, Hazard Analysis and Critical Control Points certification, and price. The results showed that consumers' valuation of GAP was significantly positive. Although providing additional GAP information to a respondent who was aware of GAP and what it means had a positive effect on the consumers' valuation of GAP, provision of this information had no effect if the respondent knew about GAP either moderately or slightly, and had a negative effect if the respondent did not know about GAP at all. To increase broad consumer awareness and valuation of GAP, it is important to provide GAP information according to the requirements of consumers. © 2012 The Authors. Animal Science Journal © 2012 Japanese Society of Animal Science.

Religiousness and hazardous alcohol use: a conditional indirect effects model.

PubMed

Jankowski, Peter J; Hardy, Sam A; Zamboanga, Byron L; Ham, Lindsay S

2013-08-01

The current study examined a conditional indirect effects model of the association between religiousness and adolescents' hazardous alcohol use. In doing so, we responded to the need to include both mediators and moderators, and the need for theoretically informed models when examining religiousness and adolescents' alcohol use. The sample consisted of 383 adolescents, aged 15-18, who completed an online questionnaire. Results of structural equation modeling supported the proposed model. Religiousness was indirectly associated with hazardous alcohol use through both positive alcohol expectancy outcomes and negative alcohol expectancy valuations. Significant moderating effects for alcohol expectancy valuations on the association between alcohol expectancies and alcohol use were also found. The effects for alcohol expectancy valuations confirm valuations as a distinct construct to that of alcohol expectancy outcomes, and offer support for the protective role of internalized religiousness on adolescents' hazardous alcohol use as a function of expectancy valuations. Copyright © 2013 The Foundation for Professionals in Services for Adolescents. Published by Elsevier Ltd. All rights reserved.

Real options valuation in the design of Future surface combatants

DTIC Science & Technology

2017-06-01

VALUATION IN THE DESIGN OF FUTURE SURFACE COMBATANTS by Lauren B. Majchrzak June 2017 Thesis Advisor: Johnathan Mun Second Reader: Tom...thesis 4. TITLE AND SUBTITLE REAL OPTIONS VALUATION IN THE DESIGN OF FUTURE SURFACE COMBATANTS 5. FUNDING NUMBERS 6. AUTHOR(S) Lauren B. Majchrzak...meeting their service-life expectancy of 40 years. Modular Adaptable Ship (MAS) designs that include flexibility, decoupled payloads from the platform

26 CFR 1.170A-12T - Valuation of a remainder interest in real property for contributions made after July 31, 1969...

Code of Federal Regulations, 2010 CFR

2010-04-01

... depreciation factor. If the valuation of the remainder interest in depreciable property is dependent upon the... 26 Internal Revenue 3 2010-04-01 2010-04-01 false Valuation of a remainder interest in real property for contributions made after July 31, 1969 (temporary). 1.170A-12T Section 1.170A-12T Internal...

Vers une réconciliation des théories et de la pratique de l’évaluation, perspectives d’avenir

PubMed Central

Brousselle, Astrid; Champagne, François; Contandriopoulos, André-Pierre

2013-01-01

L’évaluation est un domaine très prolifique, à plusieurs points de vue. Sur le plan théorique, de nouvelles approches s’ajoutent chaque année. La pratique est également en pleine expansion. Cette demande croissante pour des évaluations dans un domaine où les développements théoriques sont très importants crée, paradoxalement, des difficultés quant à la transposition des nouvelles connaissances dans la pratique de l’évaluation. Nous proposons, premièrement, d’illustrer trois grandes difficultés auxquelles est confronté l’évaluateur dans sa pratique : la définition de l’intervention, la considération du changement et les préoccupations pour l’utilisation de l’évaluation. Dans un deuxième temps, nous présenterons les trois principales réponses théoriques que propose le domaine de l’évaluation. Dans un troisième temps, nous discuterons des enjeux de cette interface et des avenues possibles pour favoriser une réconciliation entre la pratique et la théorie de l’évaluation. Cette discussion permettra d’illustrer la tension qui se dessine actuellement entre les questionnements de la pratique et le foisonnement théorique et de présenter les avancées prochaines sur le plan des développements théoriques, vers un rapprochement des préoccupations pratiques des évaluateurs. PMID:23997420

Giftedness and Underachievement: A Comparison of Student Groups

ERIC Educational Resources Information Center

Davie, Jennifer L.

2012-01-01

This study examined and compared school attitudes, including academic self-perceptions, attitudes toward teachers, attitudes toward school, goal valuation, and motivation/self-regulation, using the School Attitude Assessment Survey-Revised (SAAS-R) in groups of students who varied in their potential for academic achievement and their actual…

The Computational Complexity of Valuation and Motivational Forces in Decision-Making Processes.

PubMed

Redish, A David; Schultheiss, Nathan W; Carter, Evan C

2016-01-01

The concept of value is fundamental to most theories of motivation and decision making. However, value has to be measured experimentally. Different methods of measuring value produce incompatible valuation hierarchies. Taking the agent's perspective (rather than the experimenter's), we interpret the different valuation measurement methods as accessing different decision-making systems and show how these different systems depend on different information processing algorithms. This identifies the translation from these multiple decision-making systems into a single action taken by a given agent as one of the most important open questions in decision making today. We conclude by looking at how these different valuation measures accessing different decision-making systems can be used to understand and treat decision dysfunction such as in addiction.

Is Regret Theory an alternative basis for estimating the value of healthcare interventions?

PubMed

Smith, R D

1996-08-01

This paper presents an argument for the existence of "regret' influencing the valuation of alternative outcomes when making treatment decisions in healthcare. It is argued that valuation techniques as currently formulated rely upon the axioms of Expected Utility Theory (transitivity and independence). This potentially leads to a misrepresentation of the respondents true preferences over treatment alternatives, and thus results in the potential for "irrational' decisions being observed. A modified version of Regret Theory is outlined, and the results of a tentative empirical analysis provided to illustrate the importance of accounting for regret in the valuation of health states. It is concluded that regret is an important element in individual valuation and decision making in health care.

Benefits of economic criteria for water scarcity management under global changes: insights from a large-scale hydroeconomic framework

NASA Astrophysics Data System (ADS)

Neverre, Noémie; Dumas, Patrice; Nassopoulos, Hypatia

2016-04-01

Global changes are expected to exacerbate water scarcity issues in the Mediterranean region in the next decades. In this work, we investigate the impacts of reservoirs operation rules based on an economic criterion. We examine whether can they help reduce the costs of water scarcity, and whether they become more relevant under future climatic and socioeconomic conditions. We develop an original hydroeconomic model able to compare future water supply and demand on a large scale, while representing river basin heterogeneity. On the demand side, we focus on the two main sectors of water use: the irrigation and domestic sectors. Demands are projected in terms of both quantity and economic value. Irrigation requirements are computed for 12 types of crops, at the 0.5° spatial resolution, under future climatic conditions (A1B scenario). The computation of the economic benefits of irrigation water is based on a yield comparison approach between rainfed and irrigated crops. For the domestic sector, we project the combined effects of demographic growth, economic development and water cost evolution on future demands. The economic value of domestic water is defined as the economic surplus. On the supply side, we evaluate the impacts of climate change on water inflows to the reservoirs. Operating rules of the reservoirs are set up using a parameterisation-simulation-optimisation approach. The objective is to maximise water benefits. We introduce prudential parametric rules in order to take into account spatial and temporal trade-offs. The methodology is applied to Algeria at the 2050 horizon. Overall, our results show that the supply-demand imbalance and its costs will increase in most basins under future climatic and socioeconomic conditions. Our results suggest that the benefits of operating rules based on economic criteria are not unequivocally increased with global changes: in some basins the positive impact of economic prioritisation is higher under future conditions, but in other basins it is higher under historical conditions. Global changes may be an incentive to use valuation in operating rules in some basins. In other basins, the benefits of reservoirs management based on economic criteria are less pronounced; in this case, trade-offs could arise between implementing economic based operation policies or not. Given its generic nature and low data requirements, the framework developed could be implemented in other regions concerned with water scarcity and its cost, or extended to a global coverage. Water policies at the country or regional level could be assessed.

Individual responsibility and health-risk behaviour: a contingent valuation study from the ex ante societal perspective.

PubMed

van der Star, Sanne M; van den Berg, Bernard

2011-08-01

This study analyzes peoples' social preferences for individual responsibility to health-risk behaviour in health care using the contingent valuation method adopting a societal perspective. We measure peoples' willingness to pay for inclusion of a treatment in basic health insurance of a hypothetical lifestyle dependent (smoking) and lifestyle independent (chronic) health problem. Our hypothesis is that peoples' willingness to pay for the independent and the dependent health problems are similar. As a methodological challenge, this study also analyzes the extent to which people consider their personal situation when answering contingent valuation questions adopting a societal perspective. 513 Dutch inhabitants responded to the questionnaire. They were asked to state their maximum willingness to pay for inclusion of treatments in basic health insurance package for two health problems. We asked them to assume that one hypothetical health problem was totally independent of behaviour (for simplicity called chronic disease). Alternatively, we asked them to assume that the other hypothetical health problem was totally caused by health-risk behaviour (for simplicity called smoking disease). We applied the payment card method to guide respondents to answer the contingent valuation method questions. Mean willingness to pay was 42.39 Euros (CI=37.24-47.55) for inclusion of treatment for health problem that was unrelated to behaviour, with '5-10' and '10-20 Euros' as most frequently stated answers. In contrast, mean willingness to pay for inclusion treatment for health-risk related problem was 11.29 Euros (CI=8.83-14.55), with '0' and '0-5 Euros' as most frequently provided answers. Difference in mean willingness to pay was substantial (over 30 Euros) and statistically significant (p-value=0.000). Smokers were statistically significantly more (p-value<0.01) willing to pay for the health-risk related (smoking) problem compared with non-smokers, while people with chronic condition were not willing to pay more for the health-risk unrelated (chronic) problem than people without chronic condition. This suggests that sub groups of people might differ in terms of abstracting from their personal situation when answering valuation questions from a societal perspective. Copyright © 2010 Elsevier Ireland Ltd. All rights reserved.

Do Portuguese and UK health state values differ across valuation methods?

PubMed

Ferreira, Lara N; Ferreira, Pedro L; Rowen, Donna; Brazier, John E

2011-05-01

There has been an increasing interest in developing country-specific preference weights for widely used measures of health-related quality of life. The valuation of health states has usually been done using cardinal preference elicitation techniques of standard gamble (SG) or time trade-off (TTO). Yet there is increasing interest in the use of ordinal methods to elicit health state utility values as an alternative to the more conventional cardinal techniques.This raises the issue of firstly whether ordinal and cardinal methods of preference elicitation provide similar results and secondly whether this relationship is robust across different valuation studies and different populations. This study examines SG and rank preference weights for the SF-6D derived from samples of the UK and Portuguese general population. The preference weights for the Portuguese sample (n = 140) using rank data are estimated here with 810 health state valuations. The study further examines whether the use of these different preference weights has an impact when comparing the health of different age and severity groups in the Portuguese working population (n = 2,459). The rank model performed well across the majority of measures of goodness of fit used. The preference weights for the Portuguese sample using rank data are systematically lower than the UK weights for physical functioning and pain. Yet our results suggest higher similarity between preference weights derived using rank data than using standard gamble across the UK and Portuguese samples. Our results further suggest that the SF-6D values for a sample of the Portuguese working-age population and differences across groups are affected by the use of different preference weights. We suggest that the use of a Portuguese SF-6D weighting system is preferred for studies aiming to reflect the health state preferences of the Portuguese population.

Factors affecting patient valuations of caries prevention: Using and validating the willingness to pay method.

PubMed

Vernazza, Christopher R; Wildman, John R; Steele, Jimmy G; Whitworth, John M; Walls, Angus W G; Perry, Ross; Matthews, Roger; Hahn, Petra; Donaldson, Cam

2015-08-01

Determining the value of, or strength of preference for health care interventions is useful for policy makers in planning health care services. Willingness to pay (WTP) is an established economic technique to determine the strength of preferences for interventions by eliciting monetary valuations from individuals in hypothetical situations. The objective of this study was to elicit WTP values for a dental preventive intervention and to analyze the factors affecting these as well as investigating the validity of the WTP method. Patients aged 40 years plus attending dental practices in the UK and Germany were recruited on a consecutive basis over one month. Participants received information about a novel root caries prevention intervention. They then completed a questionnaire including a WTP task. Where the coating was indicated, patients were offered this for a payment and acceptance was recorded. Analysis included econometric modelling and comparison of expected (based on stated WTP) versus actual behaviour. The mean WTP for the coating was £96.41 (standard deviation 60.61). Econometric models showed that no demographic or dental history factors were significant predictors of WTP. 63% of the sample behaved as expected when using stated WTP to predict whether they would buy the coating. The remainder were split almost equally between those expected to pay but who did not and those who were expected to refuse but paid. Values for a caries preventive intervention had a large and unpredictable variance. In comparing hypothetical versus real preferences both under- and over-valuation occurs. Wide and unpredictable variation in valuations for prevention may mean that there are difficult policy questions around what resource should be allocated to dental prevention and how to target this resource. Copyright © 2015 Elsevier Ltd. All rights reserved.

Using a discrete choice experiment to value the QLU-C10D: feasibility and sensitivity to presentation format.

PubMed

Norman, R; Viney, R; Aaronson, N K; Brazier, J E; Cella, D; Costa, D S J; Fayers, P M; Kemmler, G; Peacock, S; Pickard, A S; Rowen, D; Street, D J; Velikova, G; Young, T A; King, M T

2016-03-01

To assess the feasibility of using a discrete choice experiment (DCE) to value health states within the QLU-C10D, a utility instrument derived from the QLQ-C30, and to assess clarity, difficulty, and respondent preference between two presentation formats. We ran a DCE valuation task in an online panel (N = 430). Respondents answered 16 choice pairs; in half of these, differences between dimensions were highlighted, and in the remainder, common dimensions were described in text and differing attributes were tabulated. To simplify the cognitive task, only four of the QLU-C10D's ten dimensions differed per choice set. We assessed difficulty and clarity of the valuation task with Likert-type scales, and respondents were asked which format they preferred. We analysed the DCE data by format with a conditional logit model and used Chi-squared tests to compare other responses by format. Semi-structured telephone interviews (N = 8) explored respondents' cognitive approaches to the valuation task. Four hundred and forty-nine individuals were recruited, 430 completed at least one choice set, and 422/449 (94 %) completed all 16 choice sets. Interviews revealed that respondents found ten domains difficult but manageable, many adopting simplifying heuristics. Results for clarity and difficulty were identical between formats, but the "highlight" format was preferred by 68 % of respondents. Conditional logit parameter estimates were monotonic within domains, suggesting respondents were able to complete the DCE sensibly, yielding valid results. A DCE valuation task in which only four of the QLU-C10D's ten dimensions differed in any choice set is feasible for deriving utility weights for the QLU-C10D.

Determinants of time trade-off valuations for EQ-5D-5L health states: data from the Canadian EQ-5D-5L valuation study.

PubMed

Sayah, Fatima Al; Bansback, Nick; Bryan, Stirling; Ohinmaa, Arto; Poissant, Lise; Pullenayegum, Eleanor; Xie, Feng; Johnson, Jeffrey A

2016-07-01

Previous studies suggest that population subgroups have different perceptions of health, as well as different preferences for hypothetical health states. To identify determinants of health states preferences elicited using time trade-off (TTO) for the 5-level EQ-5D questionnaire (EQ-5D-5L) in Canada. Data were from the Canadian EQ-5D-5L Valuation Study, which took place in Edmonton, Hamilton, Montreal, and Vancouver. Each respondent valued 10 of 86 hypothetical health states during an in-person interview using a computer-based TTO exercise. The TTO scores were the dependent variable and explanatory variables including age, sex, marital status, education, employment, annual household income, ethnicity, country of birth, dwelling, study site, health literacy, number of chronic conditions, previous experience with illness, and self-rated health. Average [standard deviation (SD)] age of respondents (N = 1209) was 48 (17) years, and 45 % were male. In multivariable linear regression models with random effects, adjusted for severity of health states and inconsistencies in valuations, older age [unstandardized regression coefficient (β) = -0.077], male sex (β = 0.042), being married (β = 0.069), and urban dwelling (β = -0.055) were significantly associated with health states scores. Additionally, participants from Edmonton (β = -0.124) and Vancouver (β = -0.156), but not those from Hamilton, had significantly lower TTO scores than those from Montreal. Socio-demographic characteristics were the main determinants of preferences for EQ-5D-5L health states in this study. Interestingly, preferences were significantly lower in western Canadian cities compared to eastern ones, bringing into question whether a single preference algorithm is suitable for use in all parts of Canada.

How dead is dead? Qualitative findings from participants of combined traditional and lead-time time trade-off valuations.

PubMed

Al Sayah, Fatima; Mladenovic, Ana; Gaebel, Kathryn; Xie, Feng; Johnson, Jeffrey A

2016-01-01

The EuroQol Valuation Technology (EQ-VT) uses traditional time trade-off (tTTO) for health states better than dead and lead-time TTO (LT-TTO) for states worse than dead to elicit a value (-1.0 to +1.0) for each health state. In the Canadian EQ-5D-5L Valuation study which used the EQVT platform, we observed an unexpected peak in frequency of "0" values and few negative values, particularly in the range of 0 to -0.5. To better understand this finding, we sought to explore respondents' thought processes while valuing a health state, and their understanding of the tTTO and LT-TTO exercises. Qualitative semi-structured interviews were conducted with EQVT task respondents. Questions focused on valuations of health states as: (a) Same as dead in tTTO, (b) Worse than dead in tTTO but changed to same as dead in LT-TTO, (c) Worse than dead in LT-TTO, and (d) Worse than dead in LT-TTO with trading off all 10 years. Data were analyzed using content and thematic analysis. Mean age of participants (N = 70) was 40 ± 18.1 years, 60% female, and 76% Caucasian. Participants provided similar reasons for valuing a health state same as or worse than dead. Many participants expressed confusion about worse than dead valuations, distinction between same as and worse than dead, and the transition from tTTO to LT-TTO. A few indicated that the addition of 10 years of full health in the LT-TTO influenced their valuations. The transition from tTTO to LT-TTO in the EQVT was confusing to participants, whereby some health state valuations around this transition appeared to be arbitrary.

The topic is the Relevance of wetland economic valuation in Uganda Acase study of Kiyanja-Kaku wetland in Lwengo District-Central Uganda.

NASA Astrophysics Data System (ADS)

Namulema, Mary Jude

2016-04-01

This study examined the relevance of economic valuation of wetlands in Uganda. A case study was done on Kiyanja-Kaku wetland in Lwengo District in Central Uganda using a semi-structured survey. Three objectives were examined i.e.: (i) To identify wetland ecosystem services in Uganda (ii) To identify the economic valuation methods appropriate for wetlands in Uganda (iii) To value clean water obtained from Kiyanja-Kaku wetland. The wetland ecosystem services were identified as provisioning, regulating, habitat, cultural and amenities services. The community had knowledge about 17 out of the 22 services as given by TEEB (2010). The economic valuation methods identified were, market price, efficiency price, travel cost, contingent valuation, hedonic pricing, and production function and benefit transfer methods. These were appropriate for valuation of wetlands in Uganda but only three methods i.e. market price, contingent valuation and productivity methods have been applied by researchers in Uganda so far. The economic value of clean water from Kiyanja-Kaku wetland to the nearby community was established by using the market price of clean water the National water and Sewerage Corporation charges for the water in Uganda to obtain the low value and the market price of water from the survey was used to obtain the high value. The estimated economic value of clean water service for a household ranges from UGX. 612174 to 4054733 (US 168.0-1095.0). The estimated economic value of clean water service from Kiyanja-Kaku wetland to the entire community ranges from UGX. 2,732,133,000.0 to 18,096,274,000.0 (US 775,228.0-4,885,994.0).

The Measurement of Subjective Value and Its Relation to Contingent Valuation and Environmental Public Goods

PubMed Central

Khaw, Mel W.; Grab, Denise A.; Livermore, Michael A.; Vossler, Christian A.; Glimcher, Paul W.

2015-01-01

Environmental public goods—including national parks, clean air/water, and ecosystem services—provide substantial benefits on a global scale. These goods have unique characteristics in that they are typically “nonmarket” goods, with values from both use and passive use that accrue to a large number of individuals both in current and future generations. In this study, we test the hypothesis that neural signals in areas correlated with subjective valuations for essentially all other previously studied categories of goods (ventromedial prefrontal cortex and ventral striatum) also correlate with environmental valuations. We use contingent valuation (CV) as our behavioral tool for measuring valuations of environmental public goods. CV is a standard stated preference approach that presents survey respondents with information on an issue and asks questions that help policymakers determine how much citizens are willing to pay for a public good or policy. We scanned human subjects while they viewed environmental proposals, along with three other classes of goods. The presentation of all four classes of goods yielded robust and similar patterns of temporally synchronized brain activation within attentional networks. The activations associated with the traditional classes of goods replicate previous correlations between neural activity in valuation areas and behavioral preferences. In contrast, CV-elicited values for environmental proposals did not correlate with brain activity at either the individual or population level. For a sub-population of participants, CV-elicited values were correlated with activity within the dorsomedial prefrontal cortex, a region associated with cognitive control and shifting decision strategies. The results show that neural activity associated with the subjective valuation of environmental proposals differs profoundly from the neural activity associated with previously examined goods and preference measures. PMID:26221734

Insensitivity to scope in contingent valuation studies: reason for dismissal of valuations?

PubMed

Søgaard, Rikke; Lindholt, Jes; Gyrd-Hansen, Dorte

2012-11-01

The credibility of contingent valuation studies has been questioned because of the potential occurrence of scope insensitivity, i.e. that respondents do not react to higher quantities or qualities of a good. The aim of this study was to examine the extent of scope insensitivity and to assess the relevance of potential explanations that may help to shed light on how to appropriately handle this problem in contingent valuation studies. We surveyed a sample of 2004 men invited for cardiovascular disease screening. Each respondent had three contingent valuation tasks from which their sensitivity to larger risk reductions (test 1) and to change in travel costs associated with participation (test 2) could be assessed. Participants were surveyed while waiting for their screening session. Non-participants were surveyed by postal questionnaire. The sample was overall found to be sensitive to scope, testing at the conventional sample-mean level. At the individual respondent level, however, more than half of the respondents failed the tests. Potential determinants for failing the tests were examined in alternative regression models but few consistent relationships were identified. One exception was the influence of more detailed information, which was positively associated with willingness to pay and negatively associated with scope sensitivity. Possible explanations for scope insensitivity are discussed; if cognitive limitations, emotional load and mental budgeting explain scope insensitivity there are grounds for rejecting valuations, whereas other factors such as the alternative theoretical framework of regret theory may render insensitivity to scope a result of rational thinking. It is concluded that future contingent valuation studies should focus more on extracting the underlying motives for the stated preferences in order to appropriately deal with responses that are seemingly irrational, and which may lead to imprecise welfare estimates.

Articulating Value: A framework for Evaluating Military Retirement Alternatives

DTIC Science & Technology

2012-11-30

Retirement System (MRS) is expensive. In FY2010, the US Government spent over $50 Billion on military retirement (DoD Office of the Actuary , Valuation...SBP is shared by the retiree and the government, thus it is not self- sustaining (DoD Office of the Actuaries , Valuation, 43-48). 1.3 Methodology...the military retirement fund and the cash paid to retirees during the year exceeded $50 billion (DoD Office of the Actuary , Valuation, 19-20). The

Is economic valuation of ecosystem services useful to decision-makers? Lessons learned from Australian coastal and marine management.

PubMed

Marre, Jean-Baptiste; Thébaud, Olivier; Pascoe, Sean; Jennings, Sarah; Boncoeur, Jean; Coglan, Louisa

2016-08-01

Economic valuation of ecosystem services is widely advocated as being useful to support ecosystem management decision-making. However, the extent to which it is actually used or considered useful in decision-making is poorly documented. This literature blindspot is explored with an application to coastal and marine ecosystems management in Australia. Based on a nation-wide survey of eighty-eight decision-makers representing a diversity of management organizations, the perceived usefulness and level of use of economic valuation of ecosystem services, in support of coastal and marine management, are examined. A large majority of decision-makers are found to be familiar with economic valuation and consider it useful - even necessary - in decision-making, although this varies across groups of decision-makers. However, most decision-makers never or rarely use economic valuation. The perceived level of importance and trust in estimated dollar values differ across ecosystem services, and are especially high for values that relate to commercial activities. A number of factors are also found to influence respondent's use of economic valuation. Such findings concur with conclusions from other studies on the usefulness and use of ESV in environmental management decision-making. They also demonstrate the strength of the survey-based approach developed in this application to examine this issue in a variety of contexts. Copyright © 2016 Elsevier Ltd. All rights reserved.

Willingness To Pay for Information: An Analyst's Guide.

ERIC Educational Resources Information Center

Lee, Kyung Hee; Hatcher, Charles B.

2001-01-01

Compares methods for estimating consumer willingness to pay for information: contingent valuation, experimental auction, conjoint analysis, and hedonic price equations. Shows how, in the case of food dating, measurement of willingness is complicated by the question of whether the information adds to the product's value. (Contains 31 references.)…

Maltreatment, Conscience Functioning and Dopamine Beta Hydroxylase in Emotionally Disturbed Boys.

ERIC Educational Resources Information Center

Galvin, Matthew R.; And Others

1997-01-01

Nineteen hospitalized, emotionally disturbed boys screened for maltreatment either before or after age 3 were compared with a normal control group for enzyme activity and conscience functions in moral valuation. Subjects who experienced early maltreatment had more developmental delays and more interferences with conscience functions than other…

Faculty at Work: Focus on Research, Scholarship, and Service.

ERIC Educational Resources Information Center

Blackburn, Robert T.; And Others

1991-01-01

A study compared selected personal and environmental motivational variables in college faculty with allocation of work effort to research, scholarship, and service. Faculty were from eight liberal arts and sciences departments in a range of institution types. For all institutional types, self-valuation motivators significantly accounted for the…

Application and project portfolio valuation using enterprise architecture and business requirements modelling

NASA Astrophysics Data System (ADS)

Quartel, Dick; Steen, Maarten W. A.; Lankhorst, Marc M.

2012-05-01

This article describes an architecture-based approach to IT valuation. This approach offers organisations an instrument to valuate their application and project portfolios and to make well-balanced decisions about IT investments. The value of a software application is assessed in terms of its contribution to a selection of business goals. Based on such assessments, the value of different applications can be compared, and requirements for innovation, development, maintenance and phasing out can be identified. IT projects are proposed to realise the requirements. The value of each project is assessed in terms of the value it adds to one or more applications. This value can be obtained by relating the 'as-is' application portfolio to the 'to-be' portfolio that is being proposed by the project portfolio. In this way, projects can be ranked according to their added value, given a certain selection of business goals. The approach uses ArchiMate to model the relationship between software applications, business processes, services and products. In addition, two language extensions are used to model the relationship of these elements to business goals and requirements and to projects and project portfolios. The approach is illustrated using the portfolio method of Bedell and has been implemented in BiZZdesign Architect.

Varying the valuating function and the presentable bank in computerized adaptive testing.

PubMed

Barrada, Juan Ramón; Abad, Francisco José; Olea, Julio

2011-05-01

In computerized adaptive testing, the most commonly used valuating function is the Fisher information function. When the goal is to keep item bank security at a maximum, the valuating function that seems most convenient is the matching criterion, valuating the distance between the estimated trait level and the point where the maximum of the information function is located. Recently, it has been proposed not to keep the same valuating function constant for all the items in the test. In this study we expand the idea of combining the matching criterion with the Fisher information function. We also manipulate the number of strata into which the bank is divided. We find that the manipulation of the number of items administered with each function makes it possible to move from the pole of high accuracy and low security to the opposite pole. It is possible to greatly improve item bank security with much fewer losses in accuracy by selecting several items with the matching criterion. In general, it seems more appropriate not to stratify the bank.

Posterior resting state EEG asymmetries are associated with hedonic valuation of food.

PubMed

van Bochove, Marlies E; Ketel, Eva; Wischnewski, Miles; Wegman, Joost; Aarts, Esther; de Jonge, Benjamin; Medendorp, W Pieter; Schutter, Dennis J L G

2016-12-01

Research on the hedonic value of food has been important in understanding the motivational and emotional correlates of normal and abnormal eating behaviour. The aim of the present study was to explore associations between hemispheric asymmetries recorded during resting state electroencephalogram (EEG) and hedonic valuation of food. Healthy adult volunteers were recruited and four minutes of resting state EEG were recorded from the scalp. Hedonic food valuation and reward sensitivity were assessed with the hedonic attitude to food and behavioural activation scale. Results showed that parieto-occipital resting state EEG asymmetries in the alpha (8-12Hz) and beta (13-30Hz) frequency range correlate with the hedonic valuation of food. Our findings suggest that self-reported sensory-related attitude towards food is associated with interhemispheric asymmetries in resting state oscillatory activity. Our findings contribute to understanding the electrophysiological correlates of hedonic valuation, and may provide an opportunity to modulate the cortical imbalance by using non-invasive brain stimulation methods to change food consumption. Copyright © 2016 Elsevier B.V. All rights reserved.

Fundamental Tactical Principles of Soccer: A Comparison of Different Age Groups

PubMed Central

Guilherme, José; Rechenchosky, Leandro; da Costa, Luciane Cristina Arantes; Rinadi, Wilson

2017-01-01

Abstract The fundamental tactical principles of the game of soccer represent a set of action rules that guide behaviours related to the management of game space. The aim of this study was to compare the performance of fundamental offensive and defensive tactical principles among youth soccer players from 12 to 17 years old. The sample consisted of 3689 tactical actions performed by 48 soccer players in three age categories: under 13 (U-13), under 15 (U-15), and under 17 (U-17). Tactical performance was measured using the System of Tactical Assessment in Soccer (FUT-SAT). The Kruskal Wallis, Mann-Whitney U, Friedman, Wilcoxon, and Cohen’s Kappa tests were used in the study analysis. The results showed that the principles of “offensive coverage” (p = 0.01) and “concentration” (p = 0.04) were performed more frequently by the U-17 players than the U-13 players. The tactical principles “width and length” (p < 0.05) and “defensive unit” (p < 0.05) were executed more frequently by younger soccer players. It can be concluded that the frequency with which fundamental tactical principles are performed varies between the gaming categories, which implies that there is valuation of defensive security and a progressive increase in “offensive coverage” caused by increased confidence and security in offensive actions. PMID:28828091

Fundamental Tactical Principles of Soccer: A Comparison of Different Age Groups.

PubMed

Borges, Paulo Henrique; Guilherme, José; Rechenchosky, Leandro; da Costa, Luciane Cristina Arantes; Rinadi, Wilson

2017-09-01

The fundamental tactical principles of the game of soccer represent a set of action rules that guide behaviours related to the management of game space. The aim of this study was to compare the performance of fundamental offensive and defensive tactical principles among youth soccer players from 12 to 17 years old. The sample consisted of 3689 tactical actions performed by 48 soccer players in three age categories: under 13 (U-13), under 15 (U-15), and under 17 (U-17). Tactical performance was measured using the System of Tactical Assessment in Soccer (FUT-SAT). The Kruskal Wallis, Mann-Whitney U, Friedman, Wilcoxon, and Cohen's Kappa tests were used in the study analysis. The results showed that the principles of "offensive coverage" (p = 0.01) and "concentration" (p = 0.04) were performed more frequently by the U-17 players than the U-13 players. The tactical principles "width and length" (p < 0.05) and "defensive unit" (p < 0.05) were executed more frequently by younger soccer players. It can be concluded that the frequency with which fundamental tactical principles are performed varies between the gaming categories, which implies that there is valuation of defensive security and a progressive increase in "offensive coverage" caused by increased confidence and security in offensive actions.

"Tell me I'm sexy…and otherwise valuable:" Body Valuation and Relationship Satisfaction.

PubMed

Meltzer, Andrea L; McNulty, James K

2014-03-01

Although extant research demonstrates that body valuation by strangers has negative implications for women, Studies 1 and 2 demonstrate that body valuation by a committed male partner is positively associated with women's relationship satisfaction when that partner also values them for their non-physical qualities, but negatively associated with women's relationship satisfaction when that partner is not committed or does not value them for their non-physical qualities. Study 3 demonstrates that body valuation by a committed female partner is negatively associated with men's relationship satisfaction when that partner does not also value them for their non-physical qualities but unassociated with men's satisfaction otherwise. These findings join others demonstrating that fully understanding the implications of interpersonal processes requires considering the interpersonal context. (120 words).

The Computational Complexity of Valuation and Motivational Forces in Decision-Making Processes

PubMed Central

Schultheiss, Nathan W.; Carter, Evan C.

2015-01-01

The concept of value is fundamental to most theories of motivation and decision making. However, value has to be measured experimentally. Different methods of measuring value produce incompatible valuation hierarchies. Taking the agent’s perspective (rather than the experimenter’s), we interpret the different valuation measurement methods as accessing different decision-making systems and show how these different systems depend on different information processing algorithms. This identifies the translation from these multiple decision-making systems into a single action taken by a given agent as one of the most important open questions in decision making today. We conclude by looking at how these different valuation measures accessing different decision-making systems can be used to understand and treat decision dysfunction such as in addiction. PMID:25981912

The costs of care in general practice: patients compared by the council tax valuation band of their home address.

PubMed

Beale, Norman; Hollinghurst, Sandra; Taylor, Gordon; Gwynne, Mark; Peart, Carole; Straker-Cook, Dawn

2005-06-01

It is difficult to measure and compare workload in UK general practice. A GP/health economist team recently proposed a means of calculating the unit cost of a GP consulting. It is therefore now possible to extrapolate to the costs of other clinical tasks in a practice and then to compare the workloads of caring for different patients and compare between practices. The study aims were: (i) to estimate the relative costs of daily clinical activities within a practice (implying workload); and (ii) to compare the costs of caring for different types of patients categorized by gender, by age, and by socio-economic status as marked by the Council Tax Valuation Band (CTVB) of home address. The study design was a cross-sectional cost comparison of all clinical activity aggregated, by patient, over one year in an English semi-rural general practice. The subjects were 3339 practice patients, randomly selected. The main outcome measures were costs per clinical domain and overall costs per patient per year; both then compared by gender, age group and by CTVB. CTVB is as significant a predictor of patient care cost (workload) as is patient gender and age (both already known). It is now possible to estimate the cost of care of different patients in such a way that NHS planning and especially resource allocation to practices could be improved.

Application of Real Options Analysis in the Valuation of Investment in Biodiesel Production

DTIC Science & Technology

2011-05-01

biodiesel) at time t, P(t) be assumed to evolve as the stochastic process given by the geometric Brownian motion (GBM). Then PdWPdtdP...Equation (3) Then in any differential time interval, dt, dX follows an arithmetic Brownian motion , which under risk neutral valuation, will be given by...valuation of American put options,” Journal of Finance 32 (May), pp.449-462. 5. Brennan, M. and E. Schwartz, 1978, “Finite difference methods and

Research in Algebraic Manipulation.

DTIC Science & Technology

1980-01-01

that are taken from mathematics are presented in chapter V. Those who are familiar with the results of valuation theory can skip this chapter...be an integer, and assume 3" divides a but 3’ + i does not. We can write a as 3 ’p. The the 3-adic valuation of a is 11aJ13 = 113pllb = 3’. When p = 0...primes. In general these distance measures are called p-adic valuations . In elementary analysis and topology, absolute values are used to define

Review Article "Valuating the intangible effects of natural hazards - review and analysis of the costing methods"

NASA Astrophysics Data System (ADS)

Markantonis, V.; Meyer, V.; Schwarze, R.

2012-05-01

The "intangible" or "non-market" effects are those costs of natural hazards which are not, or at least not easily measurable in monetary terms, as for example, impacts on health, cultural heritage or the environment. The intangible effects are often not included in costs assessments of natural hazards leading to an incomplete and biased cost assessment. However, several methods exist which try to estimate these effects in a non-monetary or monetary form. The objective of the present paper is to review and evaluate methods for estimating the intangible effects of natural hazards, specifically related to health and environmental effects. Existing methods are analyzed and compared using various criteria, research gaps are identified, application recommendations are provided, and valuation issues that should be addressed by the scientific community are highlighted.

A Coupled Human-Natural Systems Approach to Valuing Natural Capital

NASA Astrophysics Data System (ADS)

Fenichel, E. P.; Abbott, J.; Fujitani, M.

2012-12-01

The idea that geological and biological natural resources provide ecosystem services and that the physical geological and biological stocks, referred to as ecological stocks, are forms of capital is not new, but has attracted increased attention since the Millennium Ecosystem Assessment was released in 2005. Yet, the exact meaning of these terms, the connection between natural capital and ecosystem services, and the broader links between biophysical science and economics is often vague. The conceptual connection between ecosystem services and natural capital is that ecosystem services are the flow of goods and services that people receive from natural resources, and these flows are generated by an endowment of ecological stocks. While individuals derive benefits from a flow of services, the extent that people value the underlying natural capital asset depends on institutional arrangements in addition to the ecological properties of the stocks, because the value of capital relates to the future flow of services. A coupled human-natural systems modeling approach can help understand the value of natural capital in addition to helping scientist and policy makers better manage earth's resources. The value of a capital asset is the net present value of the flow of service, often calculated by the NPV rule. The NPV rule almost always assumes perfectly functioning markets for services and capital, but for many important ecosystem services such markets simply do not exist. The NPV rule can be derived by maximizing the net present value of capital. Indeed, the NPV rule comes from the adjoint condition of an optimal control problem where the flow of services from the capital asset are the benefits, and the dynamics of the capital stock are the constraints. Yet, trying to apply the traditional NPV rule to ecosystem services and natural capital can be frustrated by not knowing where pieces of the puzzle fit. We compare the standard NPV rule with a modified NPV rule derived by maximizing the net present value of ecosystem services generated outside a market. To do this, we develop a formal bioeconomic model. Our approach enables us to show explicitly how ecological dynamics and the discount rate matter directly for the value of natural capital, even if they do not directly factor into the ecosystem service value. Our approach also highlights where human behavior and institutions factor into a modified NPV rule applicable to ecosystem services and natural capital. Our analysis clarifies the links between ecosystem services, as a measure of value; ecological dynamics and their link to the discount rate; and how the NPV rule is modified for natural capital. We use recreational fisheries as an example of a coupled human-natural system to explore the implications of our findings. First, our derivation of an NPV rule for natural capital shows how standard non-market valuation techniques can be combined with ecological knowledge about a system to calculate the value of the natural capital. We emphasize that the value of natural capital maybe substantially different from the value of the ecosystem service. Furthermore, the value of increasing holdings in a recovering ecosystem is greater than increasing holdings in pristine ecosystems, all else equal. We also show how different institutional arrangements may strongly influence the social value of natural capital.

76 FR 59657 - Submission for OMB Review; Comment Request

Federal Register 2010, 2011, 2012, 2013, 2014

2011-09-27

... Restoration Ecosystem Service Valuation Pilot. OMB Control Number: None. Form Number(s): NA. Type of Request... Restoration Ecosystem Service Valuation Survey. The planned removal of two hydroelectric dams on the Elwha...

A methodology for highway asset valuation in Indiana.

DOT National Transportation Integrated Search

2012-11-01

The Government Accounting Standards Board (GASB) requires transportation agencies to report the values of their tangible assets. : Numerous valuation methods exist which use different underlying concepts and data items. These traditional methods have...

29 CFR 4231.10 - Actuarial calculations and assumptions.

Code of Federal Regulations, 2014 CFR

2014-07-01

... MULTIEMPLOYER PLANS § 4231.10 Actuarial calculations and assumptions. (a) Most recent valuation. All calculations required by this part must be based on the most recent actuarial valuation as of the date of...

29 CFR 4231.10 - Actuarial calculations and assumptions.

Code of Federal Regulations, 2012 CFR

2012-07-01

... MULTIEMPLOYER PLANS § 4231.10 Actuarial calculations and assumptions. (a) Most recent valuation. All calculations required by this part must be based on the most recent actuarial valuation as of the date of...

29 CFR 4231.10 - Actuarial calculations and assumptions.

Code of Federal Regulations, 2010 CFR

2010-07-01

... MULTIEMPLOYER PLANS § 4231.10 Actuarial calculations and assumptions. (a) Most recent valuation. All calculations required by this part must be based on the most recent actuarial valuation as of the date of...

29 CFR 4231.10 - Actuarial calculations and assumptions.

Code of Federal Regulations, 2013 CFR

2013-07-01

... MULTIEMPLOYER PLANS § 4231.10 Actuarial calculations and assumptions. (a) Most recent valuation. All calculations required by this part must be based on the most recent actuarial valuation as of the date of...

29 CFR 4231.10 - Actuarial calculations and assumptions.

Code of Federal Regulations, 2011 CFR

2011-07-01

... MULTIEMPLOYER PLANS § 4231.10 Actuarial calculations and assumptions. (a) Most recent valuation. All calculations required by this part must be based on the most recent actuarial valuation as of the date of...

Quantifying Users' Interconnectedness in Online Social Networks - An Indispensible Step for Economic Valuation

NASA Astrophysics Data System (ADS)

Gneiser, Martin; Heidemann, Julia; Klier, Mathias; Landherr, Andrea; Probst, Florian

Online social networks have been gaining increasing economic importance in light of the rising number of their users. Numerous recent acquisitions priced at enormous amounts have illustrated this development and revealed the need for adequate business valuation models. The value of an online social network is largely determined by the value of its users, the relationships between these users, and the resulting network effects. Therefore, the interconnectedness of a user within the network has to be considered explicitly to get a reasonable estimate for the economic value. Established standard business valuation models, however, do not sufficiently take these aspects into account. Thus, we propose a measure based on the PageRank-algorithm to quantify users’ interconnectedness in an online social network. This is a first but indispensible step towards an adequate economic valuation of online social networks.

“Tell me I’m sexy…and otherwise valuable:” Body Valuation and Relationship Satisfaction

PubMed Central

Meltzer, Andrea L.; McNulty, James K.

2013-01-01

Although extant research demonstrates that body valuation by strangers has negative implications for women, Studies 1 and 2 demonstrate that body valuation by a committed male partner is positively associated with women’s relationship satisfaction when that partner also values them for their non-physical qualities, but negatively associated with women’s relationship satisfaction when that partner is not committed or does not value them for their non-physical qualities. Study 3 demonstrates that body valuation by a committed female partner is negatively associated with men’s relationship satisfaction when that partner does not also value them for their non-physical qualities but unassociated with men’s satisfaction otherwise. These findings join others demonstrating that fully understanding the implications of interpersonal processes requires considering the interpersonal context. (120 words) PMID:24683309

Unveiling consumer's privacy paradox behaviour in an economic exchange.

PubMed

Motiwalla, Luvai F; Li, Xiao-Bai

2016-01-01

Privacy paradox is of great interest to IS researchers and firms gathering personal information. It has been studied from social, behavioural, and economic perspectives independently. However, prior research has not examined the degrees of influence these perspectives contribute to the privacy paradox problem. We combine both economic and behavioural perspectives in our study of the privacy paradox with a price valuation of personal information through an economic experiment combined with a behavioural study on privacy paradox. Our goal is to reveal more insights on the privacy paradox through economic valuation on personal information. Results indicate that general privacy concerns or individual disclosure concerns do not have a significant influence on the price valuation of personal information. Instead, prior disclosure behaviour in specific scenario, like with healthcare providers or social networks, is a better indicator of consumer price valuations.

Unveiling consumer’s privacy paradox behaviour in an economic exchange

PubMed Central

Li, Xiao-Bai

2015-01-01

Privacy paradox is of great interest to IS researchers and firms gathering personal information. It has been studied from social, behavioural, and economic perspectives independently. However, prior research has not examined the degrees of influence these perspectives contribute to the privacy paradox problem. We combine both economic and behavioural perspectives in our study of the privacy paradox with a price valuation of personal information through an economic experiment combined with a behavioural study on privacy paradox. Our goal is to reveal more insights on the privacy paradox through economic valuation on personal information. Results indicate that general privacy concerns or individual disclosure concerns do not have a significant influence on the price valuation of personal information. Instead, prior disclosure behaviour in specific scenario, like with healthcare providers or social networks, is a better indicator of consumer price valuations. PMID:27708687

Valuing ecosystem services in terms of ecological risks and returns.

PubMed

Abson, David J; Termansen, Mette

2011-04-01

The economic valuation of ecosystem services is a key policy tool in stemming losses of biological diversity. It is proposed that the loss of ecosystem function and the biological resources within ecosystems is due in part to the failure of markets to recognize the benefits humans derive from ecosystems. Placing monetary values on ecosystem services is often suggested as a necessary step in correcting such market failures. We consider the effects of valuing different types of ecosystem services within an economic framework. We argue that provisioning and regulating ecosystem services are generally produced and consumed in ways that make them amenable to economic valuation. The values associated with cultural ecosystem services lie outside the domain of economic valuation, but their worth may be expressed through noneconomic, deliberative forms of valuation. We argue that supporting ecosystem services are not of direct value and that the losses of such services can be expressed in terms of the effects of their loss on the risk to the provision of the directly valued ecosystem services they support. We propose a heuristic framework that considers the relations between ecological risks and returns in the provision of ecosystem services. The proposed ecosystem-service valuation framework, which allows the expression of the value of all types of ecosystem services, calls for a shift from static, purely monetary valuation toward the consideration of trade-offs between the current flow of benefits from ecosystems and the ability of those ecosystems to provide future flows. ©2010 Society for Conservation Biology.

Does Question Format Matter? Valuing an Endangered Species

Treesearch

Dixie Watts Reaves; Randall A. Kramer; Thomas P. Holmes

1999-01-01

A three-way treatment design is used to compare contingent valuation response formats. Respondents are asked to value an endangered species (the red-cockaded woodpecker) and the restoration of its habitat following a natural disaster. For three question formats (open-ended, payment card, and double-bounded dichotomous choice), differences in survey response rates,...

Valuing Informal Care Experience: Does Choice of Measure Matter?

ERIC Educational Resources Information Center

Mentzakis, Emmanouil; McNamee, Paul; Ryan, Mandy; Sutton, Matthew

2012-01-01

Well-being equations are often estimated to generate monetary values for non-marketed activities. In such studies, utility is often approximated by either life satisfaction or General Health Questionnaire scores. We estimate and compare monetary valuations of informal care for the first time in the UK employing both measures, using longitudinal…

A comparison of approaches to mitigate hypothetical bias

Treesearch

Patricia A. Champ; Rebecca Moore; Richard C. Bishop

2009-01-01

We compare two approaches to mitigating hypothetical bias. The study design includes three treatments: an actual payment treatment, a contingent valuation (CV) treatment with a followup certainty question, and a CV treatment with a cheap talk script. Our results suggest that both the follow-up certainty treatment and the cheap talk treatment produce...

Assessing Subjective Preferences for Future Fire Research

Treesearch

James B. Davis

1987-01-01

Methods are described for making comparative valuations of future fire (or any other) research efforts when the benefits that result from some of the efforts cannot be described in dollars. The process helps research managers and scientists set priorities by using the values and beliefs of skilled fire specialists. The objective is to insure coherent decisions...

Using priced and unpriced values to make environmetal decisions

Treesearch

Elwood L. Schaffer; James B. Davis

1988-01-01

A process is described for making comparative valuations of a wide range of environmental management activities when the combined social, economic, managerial, and political benefits of some (but not all) of these activities cannot be adequately described in economic terms, and budgetary constraints do not permit funding all activities under consideration. The...

26 CFR 25.2512-3 - Valuation of interest in businesses.

Code of Federal Regulations, 2010 CFR

2010-04-01

... AND GIFT TAXES GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954 Transfers § 25.2512-3 Valuation of... with the return, including copies of reports of examinations of the business made by accountants...

Children's Health Valuation Handbook (2003)

EPA Pesticide Factsheets

Reference tool for analysts conducting economic analyses of EPA policies when those policies are expected to affect risks to children's health. State of knowledge on valuation of children's health is in it's infancy, so informative and not prescriptive.

Santa Cruz River Options

EPA Science Inventory

This presentation summarizes qualitative research insights gained during development of a nonmarket valuation survey for changes to the Santa Cruz River in Southern Arizona. Qualitative research provides an important avenue for understanding how the public interprets valuation s...

We Took on the Oil Giant: Good Night, Goliath.

ERIC Educational Resources Information Center

Dombrowski, Richard J.

1988-01-01

The small school district of Channahon, Illinois challenged the assessed valuation of a local oil refinery, won the appeal, and negotiated a settlement with the company to stabilize the assessed valuation through 1990. (MLF)

Combining accounting approaches to practice valuation.

PubMed

Schwartzben, D; Finkler, S A

1998-06-01

Healthcare organizations that wish to acquire physician or ambulatory care practices can choose from a variety of practice valuation approaches. Basic accounting methods assess the value of a physician practice on the basis of a historical, balance-sheet description of tangible assets. Yet these methods alone are inadequate to determine the true financial value of a practice. By using a combination of accounting approaches to practice valuation that consider factors such as fair market value, opportunity cost, and discounted cash flow over a defined time period, organizations can more accurately assess a practice's actual value.

Pharmacological and Expectancy Effects of a Low Amount of Alcohol Drinking on Outcome Valuation and Risk Perception in Males and Females

PubMed Central

Tsurugizawa, Tomokazu; Tokuda, Shinsuke; Harada, Tokiko; Takahashi, Taiki; Sadato, Norihiro

2016-01-01

The high-dose, alcohol-induced influences on risk perception and loss aversion depend on sex. On the other hand, low-dose alcohol has less effect on risky behavior. However, the effect of low-dose alcohol on subjective valuation of gain or loss and also the effect of placebo (expectancy of alcohol) on risk perception have not been fully investigated. We investigated the effects of low-dose alcohol (0.02 g/100 ml blood alcohol concentration) and placebo effects on subjective risk perception and subjective valuation of uncertain gain and loss in females and males. Participants in the control group and the placebo group were served alcohol-free, wine-flavored beverage and participants of alcohol group were served wine (14% alcohol). The placebo group was not informed that the drink was not alcohol but the control group was informed. Then paper–pencil tasks for subjective risk perception and valuation of gain or loss were performed 45 min after drinking the beverage. The participants were asked to draw the line on a 180 mm scale for each question. The placebo effects as well as the low-dose alcohol effects were observed in subjective valuations of gain or loss. Except for effect of beverages, a gender difference was also observed for subjective likelihood. The females estimated a low-probability loss as more likely and estimated a high-probability gain as less likely than did the males. From the Stevens’ law fitting analysis, the placebo, not alcohol, significantly induced the psychophysical effect of the subjective valuation of gain or loss. These results indicate that the psychological effects of expectancy of alcohol (placebo) could be a major factor in changing the subjective valuation of gain or loss over the pharmacological effects of a small amount of alcohol (like a glass of wine). Furthermore, these results also indicate that gender differences should be taken into account when investigating pharmacological or psychological effect on decision-making. PMID:27100898

Comprehending the multiple 'values' of green infrastructure - Valuing nature-based solutions for urban water management from multiple perspectives.

PubMed

Wild, T C; Henneberry, J; Gill, L

2017-10-01

The valuation of urban water management practices and associated nature-based solutions (NBS) is highly contested, and is becoming increasingly important to cities seeking to increase their resilience to climate change whilst at the same time facing budgetary pressures. Different conceptions of 'values' exist, each being accompanied by a set of potential measures ranging from calculative practices (closely linked to established market valuation techniques) - through to holistic assessments that seek to address wider concerns of sustainability. Each has the potential to offer important insights that often go well beyond questions of balancing the costs and benefits of the schemes concerned. However, the need to address - and go beyond - economic considerations presents policy-makers, practitioners and researchers with difficult methodological, ethical and practical challenges, especially when considered without the benefit of a broader theoretical framework or in the absence of well-established tools (as might apply within more traditional infrastructural planning contexts, such as the analysis of transport interventions). Drawing on empirical studies undertaken in Sheffield over a period of 10 years, and delivered in partnership with several other European cities and regions, we compare and examine different attempts to evaluate the benefits of urban greening options and future development scenarios. Comparing these different approaches to the valuation of nature-based solutions alongside other, more conventional forms of infrastructure - and indeed integrating both 'green and grey' interventions within a broader framework of infrastructures - throws up some surprising results and conclusions, as well as providing important sign-posts for future research in this rapidly emerging field. Copyright © 2017 Elsevier Inc. All rights reserved.

The real deal: Willingness-to-pay and satiety expectations are greater for real foods versus their images.

PubMed

Romero, Carissa A; Compton, Michael T; Yang, Yueran; Snow, Jacqueline C

2017-11-23

Laboratory studies of human dietary choice have relied on computerized two-dimensional (2D) images as stimuli, whereas in everyday life, consumers make decisions in the context of real foods that have actual caloric content and afford grasping and consumption. Surprisingly, few studies have compared whether real foods are valued more than 2D images of foods, and in the studies that have, differences in the stimuli and testing conditions could have resulted in inflated bids for the real foods. Moreover, although the caloric content of food images has been shown to influence valuation, no studies to date have investigated whether 'real food exposure effects' on valuation reflect greater sensitivity to the caloric content of real foods versus images. Here, we compared willingness-to-pay (WTP) for, and expectations about satiety after consuming, everyday snack foods that were displayed as real foods versus 2D images. Critically, our 2D images were matched closely to the real foods for size, background, illumination, and apparent distance, and trial presentation and stimulus timing were identical across conditions. We used linear mixed effects modeling to determine whether effects of display format were modulated by food preference and the caloric content of the foods. Compared to food images, observers were willing to pay 6.62% more for (Experiment 1) and believed that they would feel more satiated after consuming (Experiment 2), foods displayed as real objects. Moreover, these effects appeared to be consistent across food preference, caloric content, as well as observers' estimates of the caloric content of the foods. Together, our results confirm that consumers' perception and valuation of everyday foods is influenced by the format in which they are displayed. Our findings raise important new insights into the factors that shape dietary choice in real-world contexts and highlight potential avenues for improving public health approaches to diet and obesity. Copyright © 2017 Elsevier Ltd. All rights reserved.

The development of the ventral prefrontal cortex and social flexibility.

PubMed

Nelson, Eric E; Guyer, Amanda E

2011-07-01

Over the last several years a number of studies in both humans and animals have suggested that the orbitofrontal and ventrolateral prefrontal cortices play an important role in generating flexible behavior. We suggest that input from these brain regions contribute to three functions involved in generating flexible behavior within social contexts: valuation, inhibition, and rule use. Recent studies have also demonstrated that the prefrontal cortex undergoes a prolonged course of maturation that extends well after puberty. Here, we review evidence that the prolonged development of these prefrontal regions parallels a slowly emerging ability for flexible social behavior. We also speculate on the possibility that sensitive periods for organizing social behavior may be embedded within this developmental time-fame. Finally, we discuss the role of prefrontal cortex in adolescent mood and anxiety disorders, particularly as orbitofrontal and ventrolateral prefrontal cortices are engaged in a social context.

The Development of the Ventral Prefrontal Cortex and Social Flexibility

PubMed Central

Nelson, Eric E.; Guyer, Amanda E.

2011-01-01

Over the last several years a number of studies in both humans and animals have suggested that the orbitofrontal and ventrolateral prefrontal cortices play an important role in generating flexible behavior. We suggest that input from these brain regions contribute to three functions involved in generating flexible behavior within social contexts: valuation, inhibition, and rule use. Recent studies have also demonstrated that the prefrontal cortex undergoes a prolonged course of maturation that extends well after puberty. Here, we review evidence that the prolonged development of these prefrontal regions parallels a slowly emerging ability for flexible social behavior. We also speculate on the possibility that sensitive periods for organizing social behavior may be embedded within this developmental time-fame. Finally, we discuss the role of prefrontal cortex in adolescent mood and anxiety disorders, particularly as orbitofrontal and ventrolateral prefrontal cortices are engaged in a social context. PMID:21804907

Economic Valuation of Mortality Risk Reduction - Volumes 1 and 2 (2004)

EPA Pesticide Factsheets

Reports prepared on economic valuation of mortality risk reduction using information collected from sstated preference surveys of individuals, as well as using information on revealed behavior from safety expenditures in context of automobile purchases.

Workshop: Benefits Transfer Workshop Proceedings (2005)

EPA Pesticide Factsheets

The objective of the workshop was to provide a forum for informed discussion regarding the practice of benefits transfer, the use of valuation databases for such, and the general relevance of valuation and benefits transfer to environmental decision making

EPA Use of Ecological Nonmarket Valuation

EPA Science Inventory

This essay was motivated by a workshop at which numerous investigators presented advancements in nonmarket valuation . Much of the research, and the workshop itself were US Environmental Protection Agency (EPA) funded, and indeed the typical expected application was environmental...

26 CFR 20.2031-3 - Valuation of interests in businesses.

Code of Federal Regulations, 2012 CFR

2012-04-01

... individual or a corporation, would pay for the interest to a willing seller, neither being under any... § 20.2031-2 relating to the valuation of corporate stock, to the extent applicable. Special attention...

26 CFR 20.2031-3 - Valuation of interests in businesses.

Code of Federal Regulations, 2014 CFR

2014-04-01

... individual or a corporation, would pay for the interest to a willing seller, neither being under any... § 20.2031-2 relating to the valuation of corporate stock, to the extent applicable. Special attention...

26 CFR 20.2031-3 - Valuation of interests in businesses.

Code of Federal Regulations, 2011 CFR

2011-04-01

... individual or a corporation, would pay for the interest to a willing seller, neither being under any... § 20.2031-2 relating to the valuation of corporate stock, to the extent applicable. Special attention...

26 CFR 20.2031-3 - Valuation of interests in businesses.

Code of Federal Regulations, 2013 CFR

2013-04-01

... individual or a corporation, would pay for the interest to a willing seller, neither being under any... § 20.2031-2 relating to the valuation of corporate stock, to the extent applicable. Special attention...

Society's Survival: Equal Educational Opportunities

ERIC Educational Resources Information Center

Buchmiller, Archie

1972-01-01

Discusses the property valuation system which is available for taxation by school districts to finance their educational programs. Contends that a shift in classification from property valuation to income may not solve the regional disparities in district wealth. (RJ)

Public provision of four-wheeled walkers: contingent valuation study of economic benefit.

PubMed

Haines, Terry; Brown, Cassandra; Morrison, Jan

2008-09-01

To quantify the economic value of publicly provided four-wheeled walkers as judged by recipients in Queensland, Australia. Contingent valuation study using willingness-to-pay approach. A sample of 49 Australian older adults who received a publicly funded four-wheeled walker in the past 3 months completed the survey via telephone. A discrete choice bidding response format with a randomly selected starting bid was employed to glean valuations. This approach yielded only one non-response, and one zero dollar response. The mean (standard deviation) valuation provided was $ A 290 ($ A 167), which was $ A 84 in excess of the price paid by the public provider agency to purchase the equipment. Starting bid was significantly associated with values provided. The current public provision program of four-wheeled walkers is likely to generate net societal benefit. These findings coupled with arguments based on equity build a moderate case for the continuation of this program.

Hierarchical competitions subserving multi-attribute choice

PubMed Central

Hunt, Laurence T; Dolan, Raymond J; Behrens, Timothy EJ

2015-01-01

Valuation is a key tenet of decision neuroscience, where it is generally assumed that different attributes of competing options are assimilated into unitary values. Such values are central to current neural models of choice. By contrast, psychological studies emphasize complex interactions between choice and valuation. Principles of neuronal selection also suggest competitive inhibition may occur in early valuation stages, before option selection. Here, we show behavior in multi-attribute choice is best explained by a model involving competition at multiple levels of representation. This hierarchical model also explains neural signals in human brain regions previously linked to valuation, including striatum, parietal and prefrontal cortex, where activity represents competition within-attribute, competition between attributes, and option selection. This multi-layered inhibition framework challenges the assumption that option values are computed before choice. Instead our results indicate a canonical competition mechanism throughout all stages of a processing hierarchy, not simply at a final choice stage. PMID:25306549

To what extent can we explain time trade-off values from other information about respondents?

PubMed

Dolan, Paul; Roberts, Jennifer

2002-03-01

The time trade-off (TTO) is one of the most widely used health state valuation methods and was recently used to develop a set of values for the EQ-5D descriptive system from 3000 members of the UK general population. However, there is currently very little understanding of precisely what determines responses to TTO questions. The data that were used to generate this set of values are ideal for addressing this question since they contain a plethora of information relating to the respondents and their cognition during the TTO exercise. A particularly useful characteristic of this dataset is the existence of visual analogue scale (VAS) valuations on the same states for the same respondents. The results suggest that age, sex and marital status are the most important respondent characteristics determining health state valuations. The VAS valuations were found to add very little to the explanatory power of the models.

Valuation of imaging centers: alternative methods and detailed description of the discounted cash flow approach.

PubMed

Russell, Philip J

2007-01-01

Medical imaging centers are an increasingly integral part of the medical services landscape in America. There are many instances in which owners and potential buyers of these enterprises want to ascertain the value of the businesses. There is an industry of professionals who provide expert valuation services for many types of businesses using various recognized alternative methods, some of which are more appropriate than others when valuing an imaging center. The federal government has prescribed parameters for all valuations if they lead to transactions in which fair market value is mandated, and it also expects transactions to adhere to more generalized laws relating to entities that provide services to Medicare patients. Radiologists who own, or who are contemplating ownership of, imaging center operations need to understand the principles of valuation, specifically the factors that are involved in a discounted cash flow determination of fair market value.

Fair Package Assignment

NASA Astrophysics Data System (ADS)

Lahaie, Sébastien; Parkes, David C.

We consider the problem of fair allocation in the package assignment model, where a set of indivisible items, held by single seller, must be efficiently allocated to agents with quasi-linear utilities. A fair assignment is one that is efficient and envy-free. We consider a model where bidders have superadditive valuations, meaning that items are pure complements. Our central result is that core outcomes are fair and even coalition-fair over this domain, while fair distributions may not even exist for general valuations. Of relevance to auction design, we also establish that the core is equivalent to the set of anonymous-price competitive equilibria, and that superadditive valuations are a maximal domain that guarantees the existence of anonymous-price competitive equilibrium. Our results are analogs of core equivalence results for linear prices in the standard assignment model, and for nonlinear, non-anonymous prices in the package assignment model with general valuations.

Time trade-off and attitudes toward euthanasia: implications of using 'death' as an anchor in health state valuation.

PubMed

Augestad, Liv A; Rand-Hendriksen, Kim; Stavem, Knut; Kristiansen, Ivar Sønbø

2013-05-01

Health state values are by convention anchored to 'perfect health' and 'death.' Attitudes toward death may consequently influence the valuations. We used attitudes toward euthanasia (ATE) as a sub-construct for attitudes toward death. We compared the influence on values elicited with time trade-off (TTO), lead-time TTO (LT-TTO) and visual analogue scale (VAS).Since the 'death' anchor is most explicit in TTO, we hypothesized that TTO values would be most influenced by ATE. Respondents valued eight EQ-5D health states with VAS, then TTO (n = 328) or LT-TTO (n = 484). We measured ATE on a scale from -2 (fully disagree) to 2 (fully agree) and used multiple linear regressions to predict VAS, TTO, and LT-TTO values by ATE, sex, age, and education. A one-point increase on the ATE scale predicted a mean TTO value change of -.113 and LT-TTO change of -.072. Demographic variables, but not ATE, predicted VAS values. TTO appears to measure ATE in addition to preferences for health states. Different ways of incorporating death in the valuation may impact substantially on the resulting values. 'Death' is a metaphysically unknown concept, and implications of attitudes toward death should be investigated further to evaluate the appropriateness of using 'death' as an anchor.

Valuing improvements to threatened and endangered marine species: an application of stated preference choice experiments.

PubMed

Wallmo, Kristy; Lew, Daniel K

2011-07-01

Non-market valuation research has produced value estimates for over forty threatened and endangered (T&E) species, including mammals, fish, birds, and crustaceans. Increasingly, Stated Preference Choice Experiments (SPCE) are utilized for valuation, as the format offers flexibility for policy analysis and may reduce certain types of response biases relative to the more traditional Contingent Valuation method. Additionally, SPCE formats can allow respondents to make trade-offs among multiple species, providing information on the distinctiveness of preferences for different T&E species. In this paper we present results of an SPCE involving three U.S. Endangered Species Act (ESA)-listed species: the Puget Sound Chinook salmon, the Hawaiian monk seal, and the smalltooth sawfish. We estimate willingness-to-pay (WTP) values for improving each species' ESA listing status and statistically compare these values between the three species using a method of convolutions approach. Our results suggest that respondents have distinct preferences for the three species, and that WTP estimates differ depending on the species and the level of improvement to their ESA status. Our results should be of interest to researchers and policy-makers, as we provide value estimates for three species that have limited, if any, estimates available in the economics literature, as well as new information about the way respondents make trade-offs among three taxonomically different species. Copyright © 2011 Elsevier Ltd. All rights reserved.

Intelligently interactive combat simulation

NASA Astrophysics Data System (ADS)

Fogel, Lawrence J.; Porto, Vincent W.; Alexander, Steven M.

2001-09-01

To be fully effective, combat simulation must include an intelligently interactive enemy... one that can be calibrated. But human operated combat simulations are uncalibratable, for we learn during the engagement, there's no average enemy, and we cannot replicate their culture/personality. Rule-based combat simulations (expert systems) are not interactive. They do not take advantage of unexpected mistakes, learn, innovate, and reflect the changing mission/situation. And it is presumed that the enemy does not have a copy of the rules, that the available experts are good enough, that they know why they did what they did, that their combat experience provides a sufficient sample and that we know how to combine the rules offered by differing experts. Indeed, expert systems become increasingly complex, costly to develop, and brittle. They have face validity but may be misleading. In contrast, intelligently interactive combat simulation is purpose- driven. Each player is given a well-defined mission, reference to the available weapons/platforms, their dynamics, and the sensed environment. Optimal tactics are discovered online and in real-time by simulating phenotypic evolution in fast time. The initial behaviors are generated randomly or include hints. The process then learns without instruction. The Valuated State Space Approach provides a convenient way to represent any purpose/mission. Evolutionary programming searches the domain of possible tactics in a highly efficient manner. Coupled together, these provide a basis for cruise missile mission planning, and for driving tank warfare simulation. This approach is now being explored to benefit Air Force simulations by a shell that can enhance the original simulation.

CAN CONTINGENT VALUATION MEASURE PASSIVE USE VALUES

EPA Science Inventory

Contingent valuation (CV) is the only method currently available for practically measuring passive-use values. Because proposed laws may require that environmental regulations pass a benefit-cost test, CV has become central to the policy debate on environmental protection. Crit...

Workshop: Valuation of Ecological Benefits: Improving the Science Behind Policy Decisions (2005)

EPA Pesticide Factsheets

Two-day workshop includes research examining the benefits of improved coastal water quality, the value of improved fresh water quality, advances in the stated preference valuation method, balancing conservation and urban growth, and valuing biodiversity.

HOW PEOPLE RESPOND TO CONTINGENT VALUATION QUESTIONS

EPA Science Inventory

The purpose of the project is to understand better how individuals interpret and respond to contingent valuation (CV) questions. The research will address three issues: the reliability of the referendum questions format, the importance of reminding respondents about subst...

Mise à jour technique sur la physiologie et l'évaluation du liquide amniotique.

PubMed

Lim, Kenneth I; Butt, Kimberly; Naud, Kentia; Smithies, Mila

2017-01-01

RéSULTATS: SOURCES DES DONNéES PROBANTES: Nous avons effectué une recherche sur MEDLINE et Kfinder pour trouver des articles pertinents, puis avons examiné les bibliographies des articles retenus, notamment des revues Cochrane et des articles de revue récents. Les données recueillies ont été analysées par le Comité d'imagerie diagnostique de la Société des obstétriciens et gynécologues du Canada. Les recommandations ont été classées selon les critères établis par le Groupe d'étude canadien sur les soins de santé préventifs (Tableau 1). AVANTAGES, DéSAVANTAGES ET COûTS: En obstétrique moderne, l'évaluation du volume de liquide amniotique par échographie fait partie intégrante de l'évaluation fœtale. Toute anomalie donne lieu à une intervention obstétricale et à des examens approfondis. Au Canada, il n'existe aucune définition normalisée associée à l'estimation du volume de liquide amniotique ni aucune approche d'évaluation uniforme. Plusieurs essais randomisés semblent indiquer que l'évaluation de poche unique, plutôt que de plusieurs poches (indice de liquide amniotique), diminue les interventions obstétricales sans augmenter l'incidence de résultats indésirables. La littérature récente laisse croire que des changements légers, mais détectables du liquide amniotique peuvent survenir une heure ou deux suivant des manœuvres physiologiques normales, ce qui pourrait expliquer la variabilité et le manque de cohérence des résultats d'évaluations répétées en peu de temps et ainsi créer de la confusion et donner lieu à d'autres examens. Le présent article vise à décrire les limites de l'évaluation du volume de liquide amniotique, à promouvoir une méthode d'évaluation normalisée et à proposer un ensemble commun de définitions. DéCLARATIONS SOMMAIRES: RECOMMANDATION. Copyright © 2017. Published by Elsevier Inc.

What Do I Need to Succeed: The Case of Arab Engineering Graduate Students' Self-Perceptions of Writing

ERIC Educational Resources Information Center

Hellmann, Katherine

2013-01-01

Through a sociocultural lens, this study examines five Saudi Arabian engineering graduate students' valuation of English writing, their self-perceptions of writing, what promoted the development of those self-perceptions and how their self-perceptions compare with engineering industry writing standards. The data collected for this qualitative case…

Workshop: Using Contingent Valuation to Measure Non-Market Values (1994)

EPA Pesticide Factsheets

Workshop co-hosted by USEPA and Dept of Energy on using contingent valuation to measure non-market values for improvement in health and the environment. Includes transcripts of presentations and discussion by attendees, later published as a book.

Survey data on factors affecting negotiation of professional fees between Estate Valuers and their clients when the mortgage is financed by bank loan: A case study of mortgage valuations in Ikeja, Lagos State, Nigeria.

PubMed

Iroham, Chukwuemeka O; Okagbue, Hilary I; Ogunkoya, Olalekan A; Owolabi, James D

2017-06-01

In this article, two sets of questionnaires were administered to professionals and clients (commercial banks) on their willingness to negotiate the professional fees charged by the Estate Valuers assuming that the mortgage in valuation was financed by bank loan. A range of fees options were provided. Other factors such as the business environment and mortgage valuation can influence the negotiated fees when the data obtained from the survey data is analyzed.

The improved business valuation model for RFID company based on the community mining method.

PubMed

Li, Shugang; Yu, Zhaoxu

2017-01-01

Nowadays, the appetite for the investment and mergers and acquisitions (M&A) activity in RFID companies is growing rapidly. Although the huge number of papers have addressed the topic of business valuation models based on statistical methods or neural network methods, only a few are dedicated to constructing a general framework for business valuation that improves the performance with network graph (NG) and the corresponding community mining (CM) method. In this study, an NG based business valuation model is proposed, where real options approach (ROA) integrating CM method is designed to predict the company's net profit as well as estimate the company value. Three improvements are made in the proposed valuation model: Firstly, our model figures out the credibility of the node belonging to each community and clusters the network according to the evolutionary Bayesian method. Secondly, the improved bacterial foraging optimization algorithm (IBFOA) is adopted to calculate the optimized Bayesian posterior probability function. Finally, in IBFOA, bi-objective method is used to assess the accuracy of prediction, and these two objectives are combined into one objective function using a new Pareto boundary method. The proposed method returns lower forecasting error than 10 well-known forecasting models on 3 different time interval valuing tasks for the real-life simulation of RFID companies.

Economic valuation of ecosystem services: discussion and application.

PubMed

Lazo, Jeffrey K

2002-11-01

Ecosystems provide a wide range of services that improve human welfare. Changes in ecosystems imply potential changes in the generation of these ecosystem services and thus changes in welfare. In the lingo of economists, these welfare changes are measured as changes in economic values--increases in welfare being benefits and decreases in welfare being costs. For instance, individuals may benefit from, and thus value, reductions in risks to endangered species. Yet values for many changes in ecosystem services are not captured in market transactions, and thus measuring these values requires nonmarket valuation methods. This paper discusses ecosystem services and values from the viewpoint of an economist, explains what is meant by the valuation of ecosystems, and provides an overview of methods for valuation of ecosystem services. An example is presented from a recent natural resource damage assessment--the Green Bay total value equivalency study. Resources in the Lower Fox River and Green Bay in Wisconsin have been injured by polychlorinated biphenyl contamination from numerous paper mills along the river over several decades. The Green Bay study examines individuals' preferences and values for reducing ecosystem risks and improving ecosystem services and how these values are related to individuals' awareness of and use of ecosystem services in the area. The study uses methods from nonmarket valuation to scale potential restoration projects.

An Initial Design of ISO 19152:2012 LADM Based Valuation and Taxation Data Model

NASA Astrophysics Data System (ADS)

Çağdaş, V.; Kara, A.; van Oosterom, P.; Lemmen, C.; Işıkdağ, Ü.; Kathmann, R.; Stubkjær, E.

2016-10-01

A fiscal registry or database is supposed to record geometric, legal, physical, economic, and environmental characteristics in relation to property units, which are subject to immovable property valuation and taxation. Apart from procedural standards, there is no internationally accepted data standard that defines the semantics of fiscal databases. The ISO 19152:2012 Land Administration Domain Model (LADM), as an international land administration standard focuses on legal requirements, but considers out of scope specifications of external information systems including valuation and taxation databases. However, it provides a formalism which allows for an extension that responds to the fiscal requirements. This paper introduces an initial version of a LADM - Fiscal Extension Module for the specification of databases used in immovable property valuation and taxation. The extension module is designed to facilitate all stages of immovable property taxation, namely the identification of properties and taxpayers, assessment of properties through single or mass appraisal procedures, automatic generation of sales statistics, and the management of tax collection, dealing with arrears and appeals. It is expected that the initial version will be refined through further activities held by a possible joint working group under FIG Commission 7 (Cadastre and Land Management) and FIG Commission 9 (Valuation and the Management of Real Estate) in collaboration with other relevant international bodies.

The improved business valuation model for RFID company based on the community mining method

PubMed Central

Li, Shugang; Yu, Zhaoxu

2017-01-01

Nowadays, the appetite for the investment and mergers and acquisitions (M&A) activity in RFID companies is growing rapidly. Although the huge number of papers have addressed the topic of business valuation models based on statistical methods or neural network methods, only a few are dedicated to constructing a general framework for business valuation that improves the performance with network graph (NG) and the corresponding community mining (CM) method. In this study, an NG based business valuation model is proposed, where real options approach (ROA) integrating CM method is designed to predict the company’s net profit as well as estimate the company value. Three improvements are made in the proposed valuation model: Firstly, our model figures out the credibility of the node belonging to each community and clusters the network according to the evolutionary Bayesian method. Secondly, the improved bacterial foraging optimization algorithm (IBFOA) is adopted to calculate the optimized Bayesian posterior probability function. Finally, in IBFOA, bi-objective method is used to assess the accuracy of prediction, and these two objectives are combined into one objective function using a new Pareto boundary method. The proposed method returns lower forecasting error than 10 well-known forecasting models on 3 different time interval valuing tasks for the real-life simulation of RFID companies. PMID:28459815

Pricing and Application of Electric Storage

NASA Astrophysics Data System (ADS)

Zhao, Jialin

Electric storage provides a vehicle to store power for future use. It contributes to the grids in multiple aspects. For instance, electric storage is a more effective approach to provide electricity ancillary services than conventional methods. Additionally, electric storage, especially fast-responding units, allows owners to implement high-frequency power transactions in settings such as the 5-min real-time trading market. Such high-frequency power trades were limited in the past. However, as technology advances, the power markets have evolved. For instance, the California Independent System Operator now supports the 5-min real-time trading and the hourly day-ahead ancillary services bidding. Existing valuation models of electric storage were not designed to accommodate these recent market developments. To fill this gap, I focus on the fast-responding grid-level electric storage that provides both the real-time trading and the day-ahead ancillary services bidding. To evaluate such an asset, I propose a Monte Carlo Simulation-based valuation model. The foundation of my model is simulations of power prices. This study develops a new simulation model of electric prices. It is worth noting that, unlike existing models, my proposed simulation model captures the dependency of the real-time markets on the day-ahead markets. Upon such simulations, this study investigates the pricing and the application of electric storage at a 5-min granularity. Essentially, my model is a Dynamic Programming system with both endogenous variables (i.e., the State-of-Charge of electric storage) and exogenous variables (i.e., power prices). My first numerical example is the valuation of a fictitious 4MWh battery. Similarly, my second example evaluates the application of two units of 2MWh batteries. By comparing these two experiments, I investigate the issues related to battery configurations, such as the impacts of splitting storage capability on the valuation of electric storage.

The episodic random utility model unifies time trade-off and discrete choice approaches in health state valuation

PubMed Central

Craig, Benjamin M; Busschbach, Jan JV

2009-01-01

Background To present an episodic random utility model that unifies time trade-off and discrete choice approaches in health state valuation. Methods First, we introduce two alternative random utility models (RUMs) for health preferences: the episodic RUM and the more common instant RUM. For the interpretation of time trade-off (TTO) responses, we show that the episodic model implies a coefficient estimator, and the instant model implies a mean slope estimator. Secondly, we demonstrate these estimators and the differences between the estimates for 42 health states using TTO responses from the seminal Measurement and Valuation in Health (MVH) study conducted in the United Kingdom. Mean slopes are estimates with and without Dolan's transformation of worse-than-death (WTD) responses. Finally, we demonstrate an exploded probit estimator, an extension of the coefficient estimator for discrete choice data that accommodates both TTO and rank responses. Results By construction, mean slopes are less than or equal to coefficients, because slopes are fractions and, therefore, magnify downward errors in WTD responses. The Dolan transformation of WTD responses causes mean slopes to increase in similarity to coefficient estimates, yet they are not equivalent (i.e., absolute mean difference = 0.179). Unlike mean slopes, coefficient estimates demonstrate strong concordance with rank-based predictions (Lin's rho = 0.91). Combining TTO and rank responses under the exploded probit model improves the identification of health state values, decreasing the average width of confidence intervals from 0.057 to 0.041 compared to TTO only results. Conclusion The episodic RUM expands upon the theoretical framework underlying health state valuation and contributes to health econometrics by motivating the selection of coefficient and exploded probit estimators for the analysis of TTO and rank responses. In future MVH surveys, sample size requirements may be reduced through the incorporation of multiple responses under a single estimator. PMID:19144115

76 FR 15939 - Proposed Information Collection; Comment Request; Annual Wholesale Trade Survey

Federal Register 2010, 2011, 2012, 2013, 2014

2011-03-22

... first classification is asked to provide sales, e-commerce, inventories, method of inventory valuation... asked to provide sales, e-commerce, inventories, method of inventory valuation, inventories held outside... DEPARTMENT OF COMMERCE Census Bureau Proposed Information Collection; Comment Request; Annual...

76 FR 51348 - Submission for OMB Review; Comment Request

Federal Register 2010, 2011, 2012, 2013, 2014

2011-08-18

... asked to provide sales, e-commerce, inventories, method of inventory valuation, inventories held outside... sales, e-commerce, inventories, method of inventory valuation, inventories held outside the United... DEPARTMENT OF COMMERCE Submission for OMB Review; Comment Request The Department of Commerce will...

ECOLOGICAL AND SOCIALECONOMIC BENEFITS OF RESTORING AND-IMPAIRED STREAMS: EMERGY-BASED VALUATION

EPA Science Inventory

Sound environmental decisions require an integrated, systemic method of valuation that accurately accounts for environmental and social, as well as economic, costs and benefits. More inclusive methods are particularly needed for assessing ecological benefits because these are so...

VALUATION OF ECOLOGICAL RESOURCES: INTEGRATION OF ECOLOGY AND SOCIOECONOMICS IN ENVIRONMENTAL DECISION MAKING

EPA Science Inventory

In October 2003, a Pellston Workshop on Valuation of Ecological Resources was organized by SETAC to examine the integration of ecological assessment and socioeconomics to improve environmental decision-making. The workshop brought together a multidisciplinary group of distinguis...

MORTALITY RISK VALUATION AND STATED PREFERENCE METHODS: AN EXPLORATORY STUDY

EPA Science Inventory

The purposes of this project are: (1) to improve understanding of cognitive processes involved in the valuation of mortality risk reductions that occur in an environmental pollution context, and (2) to translate this understanding into survey language appropriate for future stat...

Valuation of buyout options in comprehensive development agreements : final report, December 2009.

DOT National Transportation Integrated Search

2009-12-01

This project investigates the feasibility of and develops an economic valuation model for buyout options in : Comprehensive Development Agreements (CDAs). A CDA is a form of public-private partnership in which : the right to price and collect revenue...

Environmental Economics for Watershed Restoration: Valuation for Non-Economists

EPA Science Inventory

EPA economists completed research projects and summarized related valuation methods and case studies, mostly dealing with acid mine drainage. Their recent book (edited by Thurston, et al.) is intended to make stakeholders more comfortable talking about economic jargon and to info...

46 CFR 309.2 - Definitions.

Code of Federal Regulations, 2013 CFR

2013-10-01

... 46 Shipping 8 2013-10-01 2013-10-01 false Definitions. 309.2 Section 309.2 Shipping MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION EMERGENCY OPERATIONS VALUES FOR WAR RISK INSURANCE § 309.2 Definitions. (a) Ship Valuation Committee means the Ship Valuation Committee referred to in Maritime...

46 CFR 309.2 - Definitions.

Code of Federal Regulations, 2010 CFR

2010-10-01

... 46 Shipping 8 2010-10-01 2010-10-01 false Definitions. 309.2 Section 309.2 Shipping MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION EMERGENCY OPERATIONS VALUES FOR WAR RISK INSURANCE § 309.2 Definitions. (a) Ship Valuation Committee means the Ship Valuation Committee referred to in Maritime...

46 CFR 309.2 - Definitions.

Code of Federal Regulations, 2012 CFR

2012-10-01

... 46 Shipping 8 2012-10-01 2012-10-01 false Definitions. 309.2 Section 309.2 Shipping MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION EMERGENCY OPERATIONS VALUES FOR WAR RISK INSURANCE § 309.2 Definitions. (a) Ship Valuation Committee means the Ship Valuation Committee referred to in Maritime...

46 CFR 309.2 - Definitions.

Code of Federal Regulations, 2011 CFR

2011-10-01

... 46 Shipping 8 2011-10-01 2011-10-01 false Definitions. 309.2 Section 309.2 Shipping MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION EMERGENCY OPERATIONS VALUES FOR WAR RISK INSURANCE § 309.2 Definitions. (a) Ship Valuation Committee means the Ship Valuation Committee referred to in Maritime...

46 CFR 309.2 - Definitions.

Code of Federal Regulations, 2014 CFR

2014-10-01

... 46 Shipping 8 2014-10-01 2014-10-01 false Definitions. 309.2 Section 309.2 Shipping MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION EMERGENCY OPERATIONS VALUES FOR WAR RISK INSURANCE § 309.2 Definitions. (a) Ship Valuation Committee means the Ship Valuation Committee referred to in Maritime...

78 FR 20244 - Product Valuation

Federal Register 2010, 2011, 2012, 2013, 2014

2013-04-04

... DEPARTMENT OF THE INTERIOR Office of Natural Resources Revenue 30 CFR Part 1206 Product Valuation CFR Correction In FR Doc. 2013-07512, appearing on page 19100, in the Federal Register of Friday, March 29, 2013, the subagency heading ``Surface Mining Reclamation and Enforcement'' is corrected to...

Option Price Estimates for Water Quality Improvements: A Contingent Valuation Study for the Monongahela River (1985)

EPA Pesticide Factsheets

This paper presents the findings from a contingent valuation survey designed to estimate the option price bids for the improved recreation resulting from enhanced water quality in the Pennsylvania portion of the Monongahela River.

Improved Approximation Algorithms for Item Pricing with Bounded Degree and Valuation

NASA Astrophysics Data System (ADS)

Hamane, Ryoso; Itoh, Toshiya

When a store sells items to customers, the store wishes to decide the prices of the items to maximize its profit. If the store sells the items with low (resp. high) prices, the customers buy more (resp. less) items, which provides less profit to the store. It would be hard for the store to decide the prices of items. Assume that a store has a set V of n items and there is a set C of m customers who wish to buy those items. The goal of the store is to decide the price of each item to maximize its profit. We refer to this maximization problem as an item pricing problem. We classify the item pricing problems according to how many items the store can sell or how the customers valuate the items. If the store can sell every item i with unlimited (resp. limited) amount, we refer to this as unlimited supply (resp. limited supply). We say that the item pricing problem is single-minded if each customer j∈C wishes to buy a set ej⊆V of items and assigns valuation w(ej)≥0. For the single-minded item pricing problems (in unlimited supply), Balcan and Blum regarded them as weighted k-hypergraphs and gave several approximation algorithms. In this paper, we focus on the (pseudo) degree of k-hypergraphs and the valuation ratio, i. e., the ratio between the smallest and the largest valuations. Then for the single-minded item pricing problems (in unlimited supply), we show improved approximation algorithms (for k-hypergraphs, general graphs, bipartite graphs, etc.) with respect to the maximum (pseudo) degree and the valuation ratio.

Uncertainty of Monetary Valued Ecosystem Services – Value Transfer Functions for Global Mapping

PubMed Central

Schmidt, Stefan; Manceur, Ameur M.; Seppelt, Ralf

2016-01-01

Growing demand of resources increases pressure on ecosystem services (ES) and biodiversity. Monetary valuation of ES is frequently seen as a decision-support tool by providing explicit values for unconsidered, non-market goods and services. Here we present global value transfer functions by using a meta-analytic framework for the synthesis of 194 case studies capturing 839 monetary values of ES. For 12 ES the variance of monetary values could be explained with a subset of 93 study- and site-specific variables by utilizing boosted regression trees. This provides the first global quantification of uncertainties and transferability of monetary valuations. Models explain from 18% (water provision) to 44% (food provision) of variance and provide statistically reliable extrapolations for 70% (water provision) to 91% (food provision) of the terrestrial earth surface. Although the application of different valuation methods is a source of uncertainty, we found evidence that assuming homogeneity of ecosystems is a major error in value transfer function models. Food provision is positively correlated with better life domains and variables indicating positive conditions for human well-being. Water provision and recreation service show that weak ownerships affect valuation of other common goods negatively (e.g. non-privately owned forests). Furthermore, we found support for the shifting baseline hypothesis in valuing climate regulation. Ecological conditions and societal vulnerability determine valuation of extreme event prevention. Valuation of habitat services is negatively correlated with indicators characterizing less favorable areas. Our analysis represents a stepping stone to establish a standardized integration of and reporting on uncertainties for reliable and valid benefit transfer as an important component for decision support. PMID:26938447

30 CFR 281.29 - Royalty valuation.

Code of Federal Regulations, 2010 CFR

2010-07-01

... 30 Mineral Resources 2 2010-07-01 2010-07-01 false Royalty valuation. 281.29 Section 281.29 Mineral Resources MINERALS MANAGEMENT SERVICE, DEPARTMENT OF THE INTERIOR OFFSHORE LEASING OF MINERALS OTHER THAN OIL, GAS, AND SULPHUR IN THE OUTER CONTINENTAL SHELF Financial Considerations § 281.29...

78 FR 68089 - Proposed Information Collection; Visibility Valuation Survey

Federal Register 2010, 2011, 2012, 2013, 2014

2013-11-13

... DEPARTMENT OF INTERIOR National Park Service [NPS-WASO-NRSS-SSD-14447; PPWONRADA0, PPMRSNR1Y.NA0000] Proposed Information Collection; Visibility Valuation Survey AGENCY: National Park Service, Interior. ACTION: Notice; request for comments. SUMMARY: We (National Park Service) will ask the Office of...

Contingent Valuation Assessment of the Economic Damages of Pollution to Marine Recreational Fishing (1989)

EPA Pesticide Factsheets

Paper develops a fully utility-theoretic model for the demand for recreational fishing access days, applied to a sample of Texas Gulf Coast anglers. The model employs contingent valuation and travel cost data jointly to calibrate a utility function.

Crowd-sourcing relative preferences for ecosystem services in the St. Louis River AOC

EPA Science Inventory

Analysis of ecosystem service tradeoffs among project scenarios is more reliable when valuation data are available. Empirical valuation data are expensive and difficult to collect. As a possible alternative or supplement to empirical data, we downloaded and classified images from...

48 CFR 211.274-3 - Policy for valuation.

Code of Federal Regulations, 2014 CFR

2014-10-01

... 48 Federal Acquisition Regulations System 3 2014-10-01 2014-10-01 false Policy for valuation. 211.274-3 Section 211.274-3 Federal Acquisition Regulations System DEFENSE ACQUISITION REGULATIONS SYSTEM...) The Government's unit acquisition cost of subassemblies, components, and parts embedded in delivered...

15 CFR 296.6 - Valuation of transfers.

Code of Federal Regulations, 2012 CFR

2012-01-01

... 15 Commerce and Foreign Trade 1 2012-01-01 2012-01-01 false Valuation of transfers. 296.6 Section 296.6 Commerce and Foreign Trade Regulations Relating to Commerce and Foreign Trade NATIONAL INSTITUTE OF STANDARDS AND TECHNOLOGY, DEPARTMENT OF COMMERCE NIST EXTRAMURAL PROGRAMS TECHNOLOGY INNOVATION...

15 CFR 296.6 - Valuation of transfers.

Code of Federal Regulations, 2013 CFR

2013-01-01

... 15 Commerce and Foreign Trade 1 2013-01-01 2013-01-01 false Valuation of transfers. 296.6 Section 296.6 Commerce and Foreign Trade Regulations Relating to Commerce and Foreign Trade NATIONAL INSTITUTE OF STANDARDS AND TECHNOLOGY, DEPARTMENT OF COMMERCE NIST EXTRAMURAL PROGRAMS TECHNOLOGY INNOVATION...

15 CFR 296.6 - Valuation of transfers.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 15 Commerce and Foreign Trade 1 2010-01-01 2010-01-01 false Valuation of transfers. 296.6 Section 296.6 Commerce and Foreign Trade Regulations Relating to Commerce and Foreign Trade NATIONAL INSTITUTE OF STANDARDS AND TECHNOLOGY, DEPARTMENT OF COMMERCE NIST EXTRAMURAL PROGRAMS TECHNOLOGY INNOVATION...

15 CFR 296.6 - Valuation of transfers.

Code of Federal Regulations, 2014 CFR

2014-01-01

... 15 Commerce and Foreign Trade 1 2014-01-01 2014-01-01 false Valuation of transfers. 296.6 Section 296.6 Commerce and Foreign Trade Regulations Relating to Commerce and Foreign Trade NATIONAL INSTITUTE OF STANDARDS AND TECHNOLOGY, DEPARTMENT OF COMMERCE NIST EXTRAMURAL PROGRAMS TECHNOLOGY INNOVATION...

15 CFR 296.6 - Valuation of transfers.

Code of Federal Regulations, 2011 CFR

2011-01-01

... 15 Commerce and Foreign Trade 1 2011-01-01 2011-01-01 false Valuation of transfers. 296.6 Section 296.6 Commerce and Foreign Trade Regulations Relating to Commerce and Foreign Trade NATIONAL INSTITUTE OF STANDARDS AND TECHNOLOGY, DEPARTMENT OF COMMERCE NIST EXTRAMURAL PROGRAMS TECHNOLOGY INNOVATION...

Response to "Alternative Measures of School District Wealth" by Allan Odden

ERIC Educational Resources Information Center

Johns, Roe L.

1977-01-01

Argues against John's suggestion that state equalization aid to local school districts should be based on measures of per-capita income and assessed property valuation per capita, rather than on measures of local tax revenue and assessed property valuation per pupil. (JG)

Considerations on patent valuation based on patent classification and citation in biotechnological field

NASA Astrophysics Data System (ADS)

Mihara, Kenji

Regarding innovation measurement utilizing patent information, a number of researchers are making great efforts to measure a "patent value (patent quality)." For patent valuation, patent classification and citation are often utilized as patent information. Also, biotechnological field is attracting attention from the viewpoint of application to environmental or medical study, and considerable researches on patent valuation are ongoing in this technical field. However, it is not enough recognized that researchers cannot be too careful when they deal with classification information in the biotech field because patent classification structure in this field is not well-established. And also, it is not known enough that citation patterns of both academic papers and patent documents are so complicated that the patterns cannot be easily generalized. In this article, the issues above were verified from a position based on working experiences of biotech patent examiner at Japan Patent Office, and considerations and implications were given on what patent valuation should be.

A dynamic code for economic object valuation in prefrontal cortex neurons

PubMed Central

Tsutsui, Ken-Ichiro; Grabenhorst, Fabian; Kobayashi, Shunsuke; Schultz, Wolfram

2016-01-01

Neuronal reward valuations provide the physiological basis for economic behaviour. Yet, how such valuations are converted to economic decisions remains unclear. Here we show that the dorsolateral prefrontal cortex (DLPFC) implements a flexible value code based on object-specific valuations by single neurons. As monkeys perform a reward-based foraging task, individual DLPFC neurons signal the value of specific choice objects derived from recent experience. These neuronal object values satisfy principles of competitive choice mechanisms, track performance fluctuations and follow predictions of a classical behavioural model (Herrnstein’s matching law). Individual neurons dynamically encode both, the updating of object values from recently experienced rewards, and their subsequent conversion to object choices during decision-making. Decoding from unselected populations enables a read-out of motivational and decision variables not emphasized by individual neurons. These findings suggest a dynamic single-neuron and population value code in DLPFC that advances from reward experiences to economic object values and future choices. PMID:27618960

Ecological economics of soil erosion: a review of the current state of knowledge.

PubMed

Adhikari, Bhim; Nadella, Karthik

2011-02-01

The economics of land degradation has received relatively little attention until recent years. Although a number of studies have undertaken valuation of ecosystem services ranging from the global to the micro level, and quite a few studies have attempted to quantify the costs of soil erosion, studies that address the full costs of land degradation are still scarce. In this review, we attempt to analyze different land resource modeling and valuation techniques applied in earlier research and the type of data used in these analyses, and to assess their utility for different forms of land resource and management appraisal. We also report on the strengths and weaknesses of different valuation techniques used in studies on the economics of soil erosion, and the relevance of these valuation techniques. We make a case for the need for more appropriate models that can make the analysis more robust in estimating the economic costs of land degradation while recognizing the spatial heterogeneity in biophysical and economic conditions. © 2011 New York Academy of Sciences.

Putting the environment into the NPV calculation -- Quantifying pipeline environmental costs

DOE Office of Scientific and Technical Information (OSTI.GOV)

Dott, D.R.; Wirasinghe, S.C.; Chakma, A.

1996-12-31

Pipeline projects impact the environment through soil and habitat disturbance, noise during construction and compressor operation, river crossing disturbance and the risk of rupture. Assigning monetary value to these negative project consequences enables the environment to be represented in the project cost-benefit analysis. This paper presents the mechanics and implications of two environmental valuation techniques: (1) the contingent valuation method and (2) the stated preference method. The use of environmental value at the project economic-evaluation stage is explained. A summary of research done on relevant environmental attribute valuation is presented and discussed. Recommendations for further research in the field aremore » made.« less

Economic valuation by the method of paired comparison, with emphasis on evaluation of the transitivity axiom

Treesearch

George L. Peterson; Thomas C. Brown

1998-01-01

The paired comparison (PC) method is used to investigate reliability, transitivity, and decision time for binary choices among goods and sums of money. The PC method reveals inconsistent choices and yields individual preference order over the set of items being compared. The data reported support the transitivity assumption and demonstrate high reliability for...

Estimating consumer willingness to pay a price premium for Alaska secondary wood products.

Treesearch

Geoffrey H. Donovan; David L. Nicholls

2003-01-01

Dichotomous choice contingent valuation survey techniques were used to estimate mean willingness to pay (WTP) a price premium for made-in-Alaska secondary wood products. Respondents were asked to compare two superficially identical end tables, one made in China and one made in Alaska. The surveys were administered at home shows in Anchorage, Fairbanks, and Sitka in...

Monetary Valuations of University Course Delivery: The Case for Face-to-Face Learning Activities in Accounting Education

ERIC Educational Resources Information Center

Taplin, Ross; Kerr, Rosy; Brown, Alistair

2017-01-01

Student preferences for delivery options were obtained within a monetary framework by asking students to purchase their ideal course structure. Results show that accounting students prefer to spend more on tutorials but purchase less lecture time; the difference due to the higher cost of tutorials compared to lectures. Face-to-face classes were…

7 CFR 3015.53 - Valuation of donated services.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 15 2010-01-01 2010-01-01 false Valuation of donated services. 3015.53 Section 3015.53 Agriculture Regulations of the Department of Agriculture (Continued) OFFICE OF THE CHIEF FINANCIAL OFFICER, DEPARTMENT OF AGRICULTURE UNIFORM FEDERAL ASSISTANCE REGULATIONS Cost-Sharing or Matching § 3015...

7 CFR 3015.55 - Valuation of donated equipment, buildings, and land.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 15 2010-01-01 2010-01-01 false Valuation of donated equipment, buildings, and land. 3015.55 Section 3015.55 Agriculture Regulations of the Department of Agriculture (Continued) OFFICE OF THE CHIEF FINANCIAL OFFICER, DEPARTMENT OF AGRICULTURE UNIFORM FEDERAL ASSISTANCE REGULATIONS Cost...

Topics in Finance Part IV--Valuation

ERIC Educational Resources Information Center

Laux, Judy

2010-01-01

This article looks at security valuation from the perspective of the financial manager, accenting the relationships to stockholder wealth maximization (SWM), risk and return, and potential agency problems. It also covers some of the pertinent literature related to how investors and creditors price the stocks and bonds of corporations.

Incorporating sociocultural phenomena into ecosystem-service valuation: The importance of critical pluralism

USDA-ARS?s Scientific Manuscript database

Ecosystem services (ES) scholarship has largely focused on monetary valuation and the material contributions of ecosystems to human well-being. Increasingly, research is calling for a deeper understanding of how less tangible, non-material values shape management and stakeholder decisions. Such rese...

The Q theory of investment, the capital asset pricing model, and asset valuation: a synthesis.

PubMed

McDonald, John F

2004-05-01

The paper combines Tobin's Q theory of real investment with the capital asset pricing model to produce a new and relatively simple procedure for the valuation of real assets using the income approach. Applications of the new method are provided.

48 CFR 211.274-3 - Policy for valuation.

Code of Federal Regulations, 2011 CFR

2011-10-01

... 48 Federal Acquisition Regulations System 3 2011-10-01 2011-10-01 false Policy for valuation. 211.274-3 Section 211.274-3 Federal Acquisition Regulations System DEFENSE ACQUISITION REGULATIONS SYSTEM... unit acquisition cost of subassemblies, components, and parts embedded in delivered items need not be...

48 CFR 211.274-3 - Policy for valuation.

Code of Federal Regulations, 2012 CFR

2012-10-01

... 48 Federal Acquisition Regulations System 3 2012-10-01 2012-10-01 false Policy for valuation. 211.274-3 Section 211.274-3 Federal Acquisition Regulations System DEFENSE ACQUISITION REGULATIONS SYSTEM... unit acquisition cost of subassemblies, components, and parts embedded in delivered items need not be...

48 CFR 211.274-3 - Policy for valuation.

Code of Federal Regulations, 2010 CFR

2010-10-01

... 48 Federal Acquisition Regulations System 3 2010-10-01 2010-10-01 false Policy for valuation. 211.274-3 Section 211.274-3 Federal Acquisition Regulations System DEFENSE ACQUISITION REGULATIONS SYSTEM... unit acquisition cost of subassemblies, components, and parts embedded in delivered items need not be...

48 CFR 211.274-3 - Policy for valuation.

Code of Federal Regulations, 2013 CFR

2013-10-01

... 48 Federal Acquisition Regulations System 3 2013-10-01 2013-10-01 false Policy for valuation. 211.274-3 Section 211.274-3 Federal Acquisition Regulations System DEFENSE ACQUISITION REGULATIONS SYSTEM... unit acquisition cost of subassemblies, components, and parts embedded in delivered items need not be...

23 CFR 645.111 - Right-of-way.

Code of Federal Regulations, 2010 CFR

2010-04-01

... existing location beause it holds the fee, an easement, or another real property interest, the damaging or... for highway purposes. (b) The utility shall determine and make a written valuation of the replacement... valuation shall be accomplished prior to negotiation for acquisition. (c) Acquisition of replacement right...

Is Best-Worst Scaling Suitable for Health State Valuation? A Comparison with Discrete Choice Experiments.

PubMed

Krucien, Nicolas; Watson, Verity; Ryan, Mandy

2017-12-01

Health utility indices (HUIs) are widely used in economic evaluation. The best-worst scaling (BWS) method is being used to value dimensions of HUIs. However, little is known about the properties of this method. This paper investigates the validity of the BWS method to develop HUI, comparing it to another ordinal valuation method, the discrete choice experiment (DCE). Using a parametric approach, we find a low level of concordance between the two methods, with evidence of preference reversals. BWS responses are subject to decision biases, with significant effects on individuals' preferences. Non parametric tests indicate that BWS data has lower stability, monotonicity and continuity compared to DCE data, suggesting that the BWS provides lower quality data. As a consequence, for both theoretical and technical reasons, practitioners should be cautious both about using the BWS method to measure health-related preferences, and using HUI based on BWS data. Given existing evidence, it seems that the DCE method is a better method, at least because its limitations (and measurement properties) have been extensively researched. Copyright © 2016 John Wiley & Sons, Ltd. Copyright © 2016 John Wiley & Sons, Ltd.

[Crisis in the valuation, emotional labor and occupational burnout among teachers of religion].

PubMed

Lachowska, Bogusława; Starczewski, Karol

2015-01-01

This article presents an analysis of the relationship between the crisis of values and in the valuation, the strategy of emotional labor, and occupational burnout in the group of lay teachers of religion. In addition, the role of emotional labor as a mediator of the relationship between the crisis of values and burnout was analyzed. Three strategies of emotional labor were considered in the study: surface acting, deep acting, and expression of naturally felt emotions. The study was conducted in a group of 169 lay teachers of religion (males - 24%, females - 76%), using the Questionnaire for Investigating Crisis in Valuation developed by Oleś, the Maslach Burnout Inventory, and the Emotional Labour Scale developed by Diefendorff, Croyle and Gosserand. The crisis of values and in the valuation is an important factor responsible for occupational burnout in the group of lay teachers of religion. Surface acting and expression of naturally felt emotions mediate the relationship between crisis in the valuation and emotional exhaustion, depersonalization and lack of personal accomplishment. Surface acting increases, while the expression of naturally felt emotions decreases occupational burnout. Deep acting is not related with occupational burnout. It is justified to seek factors favoring the expression of naturally felt emotions, and also those reducing surface acting. This work is available in Open Access model and licensed under a CC BY-NC 3.0 PL license.

The dorsomedial prefrontal cortex mediates the interaction between moral and aesthetic valuation: a TMS study on the beauty-is-good stereotype.

PubMed

Ferrari, Chiara; Nadal, Marcos; Schiavi, Susanna; Vecchi, Tomaso; Cela-Conde, Camilo J; Cattaneo, Zaira

2017-05-01

Attractive individuals are perceived as possessing more positive personal traits than unattractive individuals. This reliance on aesthetic features to infer moral character suggests a close link between aesthetic and moral valuation. Here we aimed to investigate the neural underpinnings of the interaction between aesthetic and moral valuation by combining transcranial magnetic stimulation (TMS) with a priming paradigm designed to assess the Beauty-is-Good stereotype. Participants evaluated the trustworthiness of a series of faces (targets), each of which was preceded by an adjective describing desirable, undesirable, or neutral aesthetic qualities (primes). TMS was applied between prime and target to interfere with activity in two regions known to be involved in aesthetic and moral valuation: the dorsomedial prefrontal cortex (dmPFC, a core region in social cognition) and the dorsolateral prefrontal cortex (dlPFC, critical in decision making). Our results showed that when TMS was applied over vertex (control) and over the dlPFC, participants judged faces as more trustworthy when preceded by positive than by negative aesthetic primes (as also shown in two behavioral experiments). However, when TMS was applied over the dmPFC, primes had no effect on trustworthiness judgments. A second Experiment corroborated this finding. Our results suggest that mPFC plays a causal role linking moral and aesthetic valuation. © The Author (2017). Published by Oxford University Press.

The dorsomedial prefrontal cortex mediates the interaction between moral and aesthetic valuation: a TMS study on the beauty-is-good stereotype

PubMed Central

Ferrari, Chiara; Nadal, Marcos; Schiavi, Susanna; Vecchi, Tomaso; Cela-Conde, Camilo J.

2017-01-01

Abstract Attractive individuals are perceived as possessing more positive personal traits than unattractive individuals. This reliance on aesthetic features to infer moral character suggests a close link between aesthetic and moral valuation. Here we aimed to investigate the neural underpinnings of the interaction between aesthetic and moral valuation by combining transcranial magnetic stimulation (TMS) with a priming paradigm designed to assess the Beauty-is-Good stereotype. Participants evaluated the trustworthiness of a series of faces (targets), each of which was preceded by an adjective describing desirable, undesirable, or neutral aesthetic qualities (primes). TMS was applied between prime and target to interfere with activity in two regions known to be involved in aesthetic and moral valuation: the dorsomedial prefrontal cortex (dmPFC, a core region in social cognition) and the dorsolateral prefrontal cortex (dlPFC, critical in decision making). Our results showed that when TMS was applied over vertex (control) and over the dlPFC, participants judged faces as more trustworthy when preceded by positive than by negative aesthetic primes (as also shown in two behavioral experiments). However, when TMS was applied over the dmPFC, primes had no effect on trustworthiness judgments. A second Experiment corroborated this finding. Our results suggest that mPFC plays a causal role linking moral and aesthetic valuation. PMID:28158864

Efficient option valuation of single and double barrier options

NASA Astrophysics Data System (ADS)

Kabaivanov, Stanimir; Milev, Mariyan; Koleva-Petkova, Dessislava; Vladev, Veselin

2017-12-01

In this paper we present an implementation of pricing algorithm for single and double barrier options using Mellin transformation with Maximum Entropy Inversion and its suitability for real-world applications. A detailed analysis of the applied algorithm is accompanied by implementation in C++ that is then compared to existing solutions in terms of efficiency and computational power. We then compare the applied method with existing closed-form solutions and well known methods of pricing barrier options that are based on finite differences.

[Comparison of the legal basis for health prevention and promotion in the school laws of the federal states in Germany].

PubMed

Niehues, C; Höldke, B; Gericke, C A

2006-02-01

Health prevention and promotion in schools are key public health tasks in most countries. This study focuses on the importance given to prevention and promotion of health in law texts through comparatively analysing school laws for the sixteen federal states in Germany. The basis for the analysis are the sixteen federal school laws in Germany. A conceptual framework to analyse the law texts has been developed grouped according to the following categories: aims of literacy and education; development of organization; individual and social health; and security and accident prevention. Examples for second level categories include nutrition, motility, alcohol, violence, and road-traffic accident prevention. Based on a point-system of valuation, a ranking for the federal states was derived in terms of an assessment of the importance of health prevention and promotion in federal states' school laws. Berlin, Brandenburg and Mecklenburg-Vorpommern -- three "new" states (i. e. formerly East-German) are leading the ranking. Bavaria and Baden-Württemberg, two states that had been ruled by conservative governments for a long time, had special difficulties to take over new values in their legislation and occupied rank 14 in our ranking. The last place was taken by a state under social-democratic rule -- Nordrhein-Westfalen. However, this law dated from 1952 and a new law has just been passed in August 2005. The comparison of the school laws of the federal states in Germany demonstrates that there has been a substantial amount of change in recent years. In some school laws, the impulses of the Ottawa Charta regarding health prevention can be clearly recognised. In others prevention and promotion of health are only subordinated subjects. As in many other areas of social importance, reorientation is taking place. In particular, federal states who have placed little emphasis on school health will have to renew their corresponding legislation.

Toward a Hedonic Value Framework in Health Care.

PubMed

Basu, Anirban; Sullivan, Sean D

2017-02-01

In well-functioning markets, a hedonic pricing scheme can reflect the marginal valuation of various attributes of a differentiated product at market equilibrium. It serves as an important tool to inform pricing of a new product with a specific combination of attributes. Because health cannot be bought and sold in a market setting, and health care markets are distorted by insurance or government subsidies, direct valuation of a health intervention as a differentiated good through observed market prices is difficult. In this article, we discuss the rationale of using stated preference methods for developing a hedonic value framework for health insurance products to inform the decision on whether a product should be covered or subsidized by insurance, given its price. This value index will not reflect marginal value at market equilibrium, as in a hedonic pricing scheme, but would capture the distribution of marginal value in the population. We discuss how affordability concerns can be integrated into the development of a hedonic valuation model. We compare this framework with traditional cost-effectiveness analysis and also the existing value frameworks put forth by various organizations. The framework can be adopted to inform other decisions such as pricing. We argue that developing such a comprehensive and decision-theoretic value framework is feasible and, if successful, can serve to inform health care resource allocation in this country for decades to come in a systematic manner. Copyright © 2017 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

Valuing the benefits of genetic testing for retinitis pigmentosa: a pilot application of the contingent valuation method.

PubMed

Eden, Martin; Payne, Katherine; Combs, Ryan M; Hall, Georgina; McAllister, Marion; Black, Graeme C M

2013-08-01

Technological advances present an opportunity for more people with, or at risk of, developing retinitis pigmentosa (RP) to be offered genetic testing. Valuation of these tests using current evaluative frameworks is problematic since benefits may be derived from diagnostic information rather than improvements in health. This pilot study aimed to explore if contingent valuation method (CVM) can be used to value the benefits of genetic testing for RP. CVM was used to elicit willingness-to-pay (WTP) values for (1) genetic counselling and (2) genetic counselling with genetic testing. Telephone and face-to-face interviews with a purposive sample of individuals with (n=25), and without (n=27), prior experience of RP were used to explore the feasibility and validity of CVM in this context. Faced with a hypothetical scenario, the majority of participants stated that they would seek genetic counselling and testing in the context of RP. Between participant groups, respondents offered similar justifications for stated WTP values. Overall stated WTP was higher for genetic counselling plus testing (median=£524.00) compared with counselling alone (median=£224.50). Between-group differences in stated WTP were statistically significant; participants with prior knowledge of the condition were willing to pay more for genetic ophthalmology services. Participants were able to attach a monetary value to the perceived potential benefit that genetic testing offered regardless of prior experience of the condition. This exploratory work represents an important step towards evaluating these services using formal cost-benefit analysis.

Forgetting the Past: Individual Differences in Recency in Subjective Valuations from Experience

ERIC Educational Resources Information Center

Ashby, Nathaniel J. S.; Rakow, Tim

2014-01-01

Recent research investigating decisions from experience suggests that not all information is treated equally in the decision process, with more recently encountered information having a greater impact. We report 2 studies investigating how this differential treatment of sequentially encountered information affects subjective valuations of risky…

Neural Correlates of Affective Influence on Choice

ERIC Educational Resources Information Center

Piech, Richard M.; Lewis, Jade; Parkinson, Caroline H.; Owen, Adrian M.; Roberts, Angela C.; Downing, Paul E.; Parkinson, John A.

2010-01-01

Making the right choice depends crucially on the accurate valuation of the available options in the light of current needs and goals of an individual. Thus, the valuation of identical options can vary considerably with motivational context. The present study investigated the neural structures underlying context dependent evaluation. We instructed…

44 CFR 206.376 - Loan cancellation.

Code of Federal Regulations, 2010 CFR

2010-10-01

... official financial statements of the local government. (2) “Revenue” means any source of income from taxes... procedures. (1) If the tax rates and other revenues or the tax assessment valuation of property which was not... major disaster, the tax rates and other revenues and tax assessment valuation factors applicable to such...

7 CFR 3015.54 - Valuation of donated supplies and loaned equipment or space.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 7 Agriculture 15 2010-01-01 2010-01-01 false Valuation of donated supplies and loaned equipment or space. 3015.54 Section 3015.54 Agriculture Regulations of the Department of Agriculture (Continued) OFFICE OF THE CHIEF FINANCIAL OFFICER, DEPARTMENT OF AGRICULTURE UNIFORM FEDERAL ASSISTANCE REGULATIONS...

31 CFR 223.9 - Valuation of assets and liabilities.

Code of Federal Regulations, 2010 CFR

2010-07-01

... 31 Money and Finance: Treasury 2 2010-07-01 2010-07-01 false Valuation of assets and liabilities. 223.9 Section 223.9 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY FINANCIAL MANAGEMENT SERVICE SURETY COMPANIES DOING BUSINESS...

Non-monetary valuation using Multi-Criteria Decision Analysis: Sensitivity of additive aggregation methods to scaling and compensation assumptions

EPA Science Inventory

Analytical methods for Multi-Criteria Decision Analysis (MCDA) support the non-monetary valuation of ecosystem services for environmental decision making. Many published case studies transform ecosystem service outcomes into a common metric and aggregate the outcomes to set land ...

Voter-Weighted Environmental Preferences

ERIC Educational Resources Information Center

Bell, Jason; Huber, Joel; Viscusi, W. Kip

2009-01-01

This article examines the political economy of preferences with respect to the environment using a new stated preference survey that presents the first benefit values for national water quality levels. The mean valuation greatly exceeds the median value, as the distribution of valuations is highly skewed. The study couples the survey valuations…

31 CFR 223.9 - Valuation of assets and liabilities.

Code of Federal Regulations, 2014 CFR

2014-07-01

... 31 Money and Finance: Treasury 2 2014-07-01 2014-07-01 false Valuation of assets and liabilities. 223.9 Section 223.9 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY BUREAU OF THE FISCAL SERVICE SURETY COMPANIES DOING BUSINESS...

31 CFR 223.9 - Valuation of assets and liabilities.

Code of Federal Regulations, 2013 CFR

2013-07-01

... 31 Money and Finance:Treasury 2 2013-07-01 2013-07-01 false Valuation of assets and liabilities. 223.9 Section 223.9 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY FINANCIAL MANAGEMENT SERVICE SURETY COMPANIES DOING BUSINESS...

31 CFR 223.9 - Valuation of assets and liabilities.

Code of Federal Regulations, 2011 CFR

2011-07-01

... 31 Money and Finance:Treasury 2 2011-07-01 2011-07-01 false Valuation of assets and liabilities. 223.9 Section 223.9 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY FINANCIAL MANAGEMENT SERVICE SURETY COMPANIES DOING BUSINESS...

31 CFR 223.9 - Valuation of assets and liabilities.

Code of Federal Regulations, 2012 CFR

2012-07-01

... 31 Money and Finance:Treasury 2 2012-07-01 2012-07-01 false Valuation of assets and liabilities. 223.9 Section 223.9 Money and Finance: Treasury Regulations Relating to Money and Finance (Continued) FISCAL SERVICE, DEPARTMENT OF THE TREASURY FINANCIAL MANAGEMENT SERVICE SURETY COMPANIES DOING BUSINESS...

30 CFR 1206.152 - Valuation standards-unprocessed gas.

Code of Federal Regulations, 2012 CFR

2012-07-01

... 30 Mineral Resources 3 2012-07-01 2012-07-01 false Valuation standards-unprocessed gas. 1206.152 Section 1206.152 Mineral Resources OFFICE OF NATURAL RESOURCES REVENUE, DEPARTMENT OF THE INTERIOR NATURAL... section. The notification shall be by letter to the ONRR Director for Office of Natural Resources Revenue...

30 CFR 1206.153 - Valuation standards-processed gas.

Code of Federal Regulations, 2012 CFR

2012-07-01

... 30 Mineral Resources 3 2012-07-01 2012-07-01 false Valuation standards-processed gas. 1206.153 Section 1206.153 Mineral Resources OFFICE OF NATURAL RESOURCES REVENUE, DEPARTMENT OF THE INTERIOR NATURAL... notification shall be by letter to the ONRR Director for Office of Natural Resources or his/her designee. The...

30 CFR 1206.152 - Valuation standards-unprocessed gas.

Code of Federal Regulations, 2014 CFR

2014-07-01

... 30 Mineral Resources 3 2014-07-01 2014-07-01 false Valuation standards-unprocessed gas. 1206.152 Section 1206.152 Mineral Resources OFFICE OF NATURAL RESOURCES REVENUE, DEPARTMENT OF THE INTERIOR NATURAL... section. The notification shall be by letter to the ONRR Director for Office of Natural Resources Revenue...

30 CFR 1206.153 - Valuation standards-processed gas.

Code of Federal Regulations, 2014 CFR

2014-07-01

... 30 Mineral Resources 3 2014-07-01 2014-07-01 false Valuation standards-processed gas. 1206.153 Section 1206.153 Mineral Resources OFFICE OF NATURAL RESOURCES REVENUE, DEPARTMENT OF THE INTERIOR NATURAL... notification shall be by letter to the ONRR Director for Office of Natural Resources or his/her designee. The...

30 CFR 1206.152 - Valuation standards-unprocessed gas.

Code of Federal Regulations, 2013 CFR

2013-07-01

... 30 Mineral Resources 3 2013-07-01 2013-07-01 false Valuation standards-unprocessed gas. 1206.152 Section 1206.152 Mineral Resources OFFICE OF NATURAL RESOURCES REVENUE, DEPARTMENT OF THE INTERIOR NATURAL... section. The notification shall be by letter to the ONRR Director for Office of Natural Resources Revenue...

30 CFR 1206.153 - Valuation standards-processed gas.

Code of Federal Regulations, 2013 CFR

2013-07-01

... 30 Mineral Resources 3 2013-07-01 2013-07-01 false Valuation standards-processed gas. 1206.153 Section 1206.153 Mineral Resources OFFICE OF NATURAL RESOURCES REVENUE, DEPARTMENT OF THE INTERIOR NATURAL... notification shall be by letter to the ONRR Director for Office of Natural Resources or his/her designee. The...

26 CFR 1.471-2 - Valuation of inventories.

Code of Federal Regulations, 2010 CFR

2010-04-01

...-2 Internal Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Inventories § 1.471-2 Valuation of inventories. (a) Section 471 provides two tests...-5.) Any goods in an inventory which are unsalable at normal prices or unusable in the normal way...

Using Visual Information to Determine the Subjective Valuation of Public Space for Transportation : Application to Subway Crowding Costs in NYC

DOT National Transportation Integrated Search

2017-11-30

The objective of this project is to explore the role of visual information in determining the users subjective valuation of multidimensional trip attributes that are relevant in decision-making, but are neglected in standard travel demand models. ...

26 CFR 25.2512-6 - Valuation of certain life insurance and annuity contracts; valuation of shares in an open-end...

Code of Federal Regulations, 2011 CFR

2011-04-01

...) The fair market value of a share in an open-end investment company (commonly known as a “mutual fund... is a Saturday, Sunday, or holiday), the fair market value of the mutual fund share is the last public...

26 CFR 20.2031-8 - Valuation of certain life insurance and annuity contracts; valuation of shares in an open-end...

Code of Federal Regulations, 2011 CFR

2011-04-01

...) The fair market value of a share in an open-end investment company (commonly known as a “mutual fund..., or holiday), the fair market value of the mutual fund share is the last public redemption price...

A Method for Analyzing Volunteered Geographic Information to Visualize Community Valuation of Ecosystem Services

EPA Science Inventory

Volunteered geographic information (VGI) can be used to identify public valuation of ecosystem services in a defined geographic area using photos as a representation of lived experiences. This method can help researchers better survey and report on the values and preferences of s...

17 CFR 210.12-09 - Valuation and qualifying accounts.

Code of Federal Regulations, 2010 CFR

2010-04-01

... period Column C—Additions (1)—Charged to costs and expenses (2)—Charged to other accounts—describe Column... qualifying accounts and reserves by descriptive title. Group (a) those valuation and qualifying accounts... accounts. 210.12-09 Section 210.12-09 Commodity and Securities Exchanges SECURITIES AND EXCHANGE COMMISSION...

13 CFR 108.650 - Requirement to report portfolio valuations to SBA.

Code of Federal Regulations, 2010 CFR

2010-01-01

... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false Requirement to report portfolio valuations to SBA. 108.650 Section 108.650 Business Credit and Assistance SMALL BUSINESS ADMINISTRATION NEW MARKETS VENTURE CAPITAL (âNMVCâ) PROGRAM Recordkeeping, Reporting, and Examination Requirements for NMVC...

Valuing Drinking Water Risk Reductions Using the Contingent Valuation Method: A Methodological Study of Risks from THM and Giardia (1986)

EPA Pesticide Factsheets

This study develops contingent valuation methods for measuring the benefits of mortality and morbidity drinking water risk reductions. The major effort was devoted to developing and testing a survey instrument to value low-level risk reductions.

Beyond Level 4: Tying HPT to Valuation of Intangible Assets.

ERIC Educational Resources Information Center

Gayeski, Diane

2001-01-01

Considers how human performance technology (HPT) can achieve greater recognition in the mainstream business world by developing interventions that are framed in terms of enhancing the overall valuation of the organization's intangible assets. Discusses a consulting model that can be used with clients and stakeholders to identify barriers to…

76 FR 30878 - Federal Oil and Gas Valuation

Federal Register 2010, 2011, 2012, 2013, 2014

2011-05-27

... when gas is processed, in lieu of valuing residue gas and extracted liquid products separately... natural gas liquids (NGL) price similar to a ``frac spread'' or a ``processing margin.'' Certain plant... No. ONRR-2011-0005] RIN 1012-AA01 Federal Oil and Gas Valuation AGENCY: Office of Natural Resources...

77 FR 3606 - Product Valuation

Federal Register 2010, 2011, 2012, 2013, 2014

2012-01-25

... DEPARTMENT OF THE INTERIOR Office of Natural Resources Revenue 30 CFR Part 1206 Product Valuation CFR Correction 0 In Title 30 of the Code of Federal Regulations, Part 700 to End, revised as of July 1, 2011, ``ONNR'' is corrected to read ``ONRR'', as set forth in the following table: [[Page 3607

Nitrogen, ecosystem services and environmental justice: How can a spatial valuation approach inform responsible nutrient management?

EPA Science Inventory

Spatially-explicit ecosystem service valuation (ESV) allows for the identification of the location and magnitude of services provided by natural ecosystems along with an economic measure of their value based upon benefit transfer. While this provides an important function in term...

Integrated Assessment of Health-related Economic Impacts of U.S. Air Pollution Policy

NASA Astrophysics Data System (ADS)

Saari, R. K.; Rausch, S.; Selin, N. E.

2012-12-01

We examine the environmental impacts, health-related economic benefits, and distributional effects of new US regulations to reduce smog from power plants, namely: the Cross-State Air Pollution Rule. Using integrated assessment methods, linking atmospheric and economic models, we assess the magnitude of economy-wide effects and distributional consequences that are not captured by traditional regulatory impact assessment methods. We study the Cross-State Air Pollution Rule, a modified allowance trading scheme that caps emissions of nitrogen oxides and sulfur dioxide from power plants in the eastern United States and thus reduces ozone and particulate matter pollution. We use results from the regulatory regional air quality model, CAMx (the Comprehensive Air Quality Model with extensions), and epidemiologic studies in BenMAP (Environmental Benefits Mapping and Analysis Program), to quantify differences in morbidities and mortalities due to this policy. To assess the economy-wide and distributional consequences of these health impacts, we apply a recently developed economic and policy model, the US Regional Energy and Environmental Policy Model (USREP), a multi-region, multi-sector, multi-household, recursive dynamic computable general equilibrium economic model of the US that provides a detailed representation of the energy sector, and the ability to represent energy and environmental policies. We add to USREP a representation of air pollution impacts, including the estimation and valuation of health outcomes and their effects on health services, welfare, and factor markets. We find that the economic welfare benefits of the Rule are underestimated by traditional methods, which omit economy-wide impacts. We also quantify the distribution of benefits, which have varying effects across US regions, income groups, and pollutants, and we identify factors influencing this distribution, including the geographic variation of pollution and population as well as underlying economic conditions.

Egocentric empathy gaps between owners and buyers: misperceptions of the endowment effect.

PubMed

Van Boven, L; Dunning, D; Loewenstein, G

2000-07-01

In 5 studies, the authors examined people's perceptions of the endowment effect, or the tendency to value an object more once one owns it. In the 1st 2 studies, the authors documented egocentric empathy gaps between owners and buyers regarding the endowment effect: Both owners and buyers overestimated the similarity between their own valuation of a commodity and the valuation of people in the other role. The next 2 studies showed that these empathy gaps may lead to reduced earnings in a market setting. The final study showed that egocentric empathy gaps stem partly from people's misprediction of what their own valuation would be if they were in the other role.

Instream flow assessment and economic valuation: a survey of nonmarket benefits research

USGS Publications Warehouse

Douglas, Aaron J.; Johnson, Richard L.

1993-01-01

Instream flow benefits for United States streams and rivers have recently been investigated by a number of resource economists. These valuation efforts differ in scope, method, and quantitative results. An assessment and review of these valuation efforts is presented. The various sources of differences in non‐market values produced by these studies are explored in some detail. The considerable difficulty of producing estimates of instream flow benefits values that consider all of the pertinent policy and technical issues is delineated in various policy contexts. Evidence is presented that indicates that the considerable policy impact of recent research on this topic is justified despite considerable variation in the magnitude of the estimates.

Transactive Systems Simulation and Valuation Platform Trial Analysis

DOE Office of Scientific and Technical Information (OSTI.GOV)

Widergren, Steven E.; Hammerstrom, Donald J.; Huang, Qiuhua

Transactive energy systems use principles of value to coordinate responsive supply and demand in energy systems. Work continues within the Transactive Systems Program, which is funded by the U.S. Department of Energy at Pacific Northwest National Laboratory, to understand the value of, understand the theory behind, and simulate the behaviors of transactive energy systems. This report summarizes recent advances made by this program. The main capability advances include a more comprehensive valuation model, including recommended documentation that should make valuation studies of all sorts more transparent, definition of economic metrics with which transactive mechanisms can be evaluated, and multiple improvementsmore » to the time-simulation environment that is being used to evaluate transactive scenarios.« less

Economic vulnerability of timber resources to forest fires.

PubMed

y Silva, Francisco Rodríguez; Molina, Juan Ramón; González-Cabán, Armando; Machuca, Miguel Ángel Herrera

2012-06-15

The temporal-spatial planning of activities for a territorial fire management program requires knowing the value of forest ecosystems. In this paper we extend to and apply the economic valuation principle to the concept of economic vulnerability and present a methodology for the economic valuation of the forest production ecosystems. The forest vulnerability is analyzed from criteria intrinsically associated to the forest characterization, and to the potential behavior of surface fires. Integrating a mapping process of fire potential and analytical valuation algorithms facilitates the implementation of fire prevention planning. The availability of cartography of economic vulnerability of the forest ecosystems is fundamental for budget optimization, and to help in the decision making process. Published by Elsevier Ltd.

Individualism and the Extended-Self: Cross-Cultural Differences in the Valuation of Authentic Objects

PubMed Central

Gjersoe, Nathalia L.; Newman, George E.; Chituc, Vladimir; Hood, Bruce

2014-01-01

The current studies examine how valuation of authentic items varies as a function of culture. We find that U.S. respondents value authentic items associated with individual persons (a sweater or an artwork) more than Indian respondents, but that both cultures value authentic objects not associated with persons (a dinosaur bone or a moon rock) equally. These differences cannot be attributed to more general cultural differences in the value assigned to authenticity. Rather, the results support the hypothesis that individualistic cultures place a greater value on objects associated with unique persons and in so doing, offer the first evidence for how valuation of certain authentic items may vary cross-culturally. PMID:24658437

Individualism and the extended-self: cross-cultural differences in the valuation of authentic objects.

PubMed

Gjersoe, Nathalia L; Newman, George E; Chituc, Vladimir; Hood, Bruce

2014-01-01

The current studies examine how valuation of authentic items varies as a function of culture. We find that U.S. respondents value authentic items associated with individual persons (a sweater or an artwork) more than Indian respondents, but that both cultures value authentic objects not associated with persons (a dinosaur bone or a moon rock) equally. These differences cannot be attributed to more general cultural differences in the value assigned to authenticity. Rather, the results support the hypothesis that individualistic cultures place a greater value on objects associated with unique persons and in so doing, offer the first evidence for how valuation of certain authentic items may vary cross-culturally.

Testing the limits of temporal stability: Willingness to pay values among Grand Canyon whitewater boaters across decades

USGS Publications Warehouse

Neher, Chris J.; Duffield, John; Bair, Lucas S.; Patterson, David A.; Neher, Katherine

2017-01-01

We directly compare trip willingness to pay (WTP) values between 1985 and 2015 stated preference surveys of private party Grand Canyon boaters using identically designed valuation methods. The temporal gap of 30 years between these two studies is well beyond that of any tests of WTP temporal stability in the literature. Comparisons were made of mean WTP estimates for four hypothetical Colorado River flow level scenarios. WTP values from the 1985 survey were adjusted to 2015 levels using the consumer price index. Mean WTP precision was estimated through simulation. No statistically significant differences were detected between the adjusted Bishop et al. (1987) and the current study mean WTP estimates. Examination of pooled models of the data from the studies suggest that while the estimated WTP values are stable over time, the underlying valuation functions may not be, particularly when the data and models are corrected to account for differing bid structures and possible panel effects.

Testing the Limits of Temporal Stability: Willingness to Pay Values among Grand Canyon Whitewater Boaters Across Decades

NASA Astrophysics Data System (ADS)

Neher, Chris; Duffield, John; Bair, Lucas; Patterson, David; Neher, Katherine

2017-12-01

We directly compare trip willingness to pay (WTP) values between 1985 and 2015 stated preference surveys of private party Grand Canyon boaters using identically designed valuation methods. The temporal gap of 30 years between these two studies is well beyond that of any tests of WTP temporal stability in the literature. Comparisons were made of mean WTP estimates for four hypothetical Colorado River flow level scenarios. WTP values from the 1985 survey were adjusted to 2015 levels using the consumer price index. Mean WTP precision was estimated through simulation. No statistically significant differences were detected between the adjusted Bishop et al. (1987) and the current study mean WTP estimates. Examination of pooled models of the data from the studies suggest that while the estimated WTP values are stable over time, the underlying valuation functions may not be, particularly when the data and models are corrected to account for differing bid structures and possible panel effects.

How prior preferences determine decision-making frames and biases in the human brain

PubMed Central

Lopez-Persem, Alizée; Domenech, Philippe; Pessiglione, Mathias

2016-01-01

Understanding how option values are compared when making a choice is a key objective for decision neuroscience. In natural situations, agents may have a priori on their preferences that create default policies and shape the neural comparison process. We asked participants to make choices between items belonging to different categories (e.g., jazz vs. rock music). Behavioral data confirmed that the items taken from the preferred category were chosen more often and more rapidly, which qualified them as default options. FMRI data showed that baseline activity in classical brain valuation regions, such as the ventromedial Prefrontal Cortex (vmPFC), reflected the strength of prior preferences. In addition, evoked activity in the same regions scaled with the default option value, irrespective of the eventual choice. We therefore suggest that in the brain valuation system, choices are framed as comparisons between default and alternative options, which might save some resource but induce a decision bias. DOI: http://dx.doi.org/10.7554/eLife.20317.001 PMID:27864918

A multiple indicator solution approach to endogeneity in discrete-choice models for environmental valuation.

PubMed

Mariel, Petr; Hoyos, David; Artabe, Alaitz; Guevara, C Angelo

2018-08-15

Endogeneity is an often neglected issue in empirical applications of discrete choice modelling despite its severe consequences in terms of inconsistent parameter estimation and biased welfare measures. This article analyses the performance of the multiple indicator solution method to deal with endogeneity arising from omitted explanatory variables in discrete choice models for environmental valuation. We also propose and illustrate a factor analysis procedure for the selection of the indicators in practice. Additionally, the performance of this method is compared with the recently proposed hybrid choice modelling framework. In an empirical application we find that the multiple indicator solution method and the hybrid model approach provide similar results in terms of welfare estimates, although the multiple indicator solution method is more parsimonious and notably easier to implement. The empirical results open a path to explore the performance of this method when endogeneity is thought to have a different cause or under a different set of indicators. Copyright © 2018 Elsevier B.V. All rights reserved.

EXPERIMENTING WITH MULTI-ATTRIBUTE UTILITY SURVEY METHODS IN A MULTI-DIMENSIONAL VALUATION PROBLEM. (R824699)

EPA Science Inventory

Abstract

The use of willingness-to-pay (WTP) survey techniques based on multi-attribute utility (MAU) approaches has been recommended by some authors as a way to deal simultaneously with two difficulties that increasingly plague environmental valuation. The first of th...

Estimating willingness to accept using paired comparison choice experiments: tests of robustness

Treesearch

David C. Kingsley; Thomas C. Brown

2013-01-01

Paired comparison (PC) choice experiments offer researchers and policy-makers an alternative nonmarket valuation method particularly apt when a ranking of the public's priorities across policy alternatives is paramount. Similar to contingent valuation, PC choice experiments estimate the total value associated with a specific environmental good or service. Similar...

12 CFR 223.22 - What valuation and timing principles apply to asset purchases?

Code of Federal Regulations, 2010 CFR

2010-01-01

... 12 Banks and Banking 3 2010-01-01 2010-01-01 false What valuation and timing principles apply to asset purchases? 223.22 Section 223.22 Banks and Banking FEDERAL RESERVE SYSTEM (CONTINUED) BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM TRANSACTIONS BETWEEN MEMBER BANKS AND THEIR AFFILIATES (REGULATION W...

12 CFR 223.21 - What valuation and timing principles apply to credit transactions?

Code of Federal Regulations, 2010 CFR

2010-01-01

... 12 Banks and Banking 3 2010-01-01 2010-01-01 false What valuation and timing principles apply to credit transactions? 223.21 Section 223.21 Banks and Banking FEDERAL RESERVE SYSTEM (CONTINUED) BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM TRANSACTIONS BETWEEN MEMBER BANKS AND THEIR AFFILIATES (REGULATION W...

Workshop: Improving the Assessment and Valuation of Climate Change Impacts for Policy and Regulatory Analysis: Modeling Climate Change Impacts and Associated Economic Damages (2011 - part 2)

EPA Pesticide Factsheets

The purpose of this workshop Improving the Assessment and Valuation of Climate Change Impacts for Policy and Regulatory Analysis. focused on conceptual and methodological issues - estimating impacts and valuing damages on a sectoral basis.

Economic vulnerability of timber resources to forest fires

Treesearch

Francisco Rodriguez y Silva; Juan Ramon Molina; Armando Gonzalez-Caban; Miguel Angel Herrera Machuca

2012-01-01

The temporal-spatial planning of activities for a territorial fire management program requires knowing the value of forest ecosystems. In this paper we extend to and apply the economic valuation principle to the concept of economic vulnerability and present a methodology for the economic valuation of the forest production ecosystems. The forest vulnerability is...

26 CFR 2.1-9 - Valuation of securities in fund.

Code of Federal Regulations, 2010 CFR

2010-04-01

...” (which shall be the basis for determining value, unless otherwise agreed to by the administration) and... no such sales were made, the “market value” thereof will be determined by the Administration on such... (CONTINUED) MARITIME CONSTRUCTION RESERVE FUND § 2.1-9 Valuation of securities in fund. (a) Equivalent values...

75 FR 16848 - Application Nos. and Proposed Exemptions; D-11533 and D-11534; CUNA Mutual Pension Plan for Non...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-04-02

... Applicant represents that during his career, Mr. Bayston managed a wide range of corporate finance and business valuation assignments for publicly-traded and privately-held corporate clients and ERISA..., shareholder liquidity analyses, private equity and debt placements, and corporate valuation matters. The...

Construction of an Instrument to Measure Social Valuation in an Emerging Market Context

ERIC Educational Resources Information Center

Katono, Isaac Wasswa

2011-01-01

Purpose: This study aims to construct a parsimonious instrument to measure social valuation in a collective setting using Uganda as an example. Design/methodology/approach: A triangulation technique was used in this study. Conversations with students, parents, teaching and non-teaching staff at Uganda Christian University (UCU) main campus were…

Market-based approaches to tree valuation

Treesearch

Geoffrey H. Donovan; David T. Butry

2008-01-01

A recent four-part series in Arborist News outlined different appraisal processes used to value urban trees. The final article in the series described the three generally accepted approaches to tree valuation: the sales comparison approach, the cost approach, and the income capitalization approach. The author, D. Logan Nelson, noted that the sales comparison approach...

An Overview of Intellectual Property and Intangible Asset Valuation Models

ERIC Educational Resources Information Center

Matsuura, Jeffrey H.

2004-01-01

This paper reviews the economic models most commonly applied to estimate the value of intellectual property and other forms of intangible assets. It highlights the key strengths and weaknesses of these models. One of the apparent weaknesses of the most commonly used valuation models is the failure to incorporate legal rights into their…

26 CFR 1.475(a)-4 - Valuation safe harbor.

Code of Federal Regulations, 2014 CFR

2014-04-01

... may or may not be subject to mark-to-market accounting under section 475. (c) Eligible taxpayer. An... standard that arrives at fair value in accordance with U.S. Generally Accepted Accounting Principles (U.S.... (iii) Accounting for costs and risks. Valuations may account for appropriate costs and risks, but no...

Real Options Valuation of e-Learning Projects

ERIC Educational Resources Information Center

Freitas, Angilberto; Brandao, Luiz

2010-01-01

New information and communication technologies have been gaining widespread use in Distance Education (DE) models. At the same time, the uncertainty in the market demand for this form of higher education is such that the valuation of "e-Learning" projects has become increasingly difficult and complex. This is due to the fact that…

The Impact of Property Wealth and Income Wealth on School Bond Elections.

ERIC Educational Resources Information Center

Jacobson, Thomas

1997-01-01

Examines the linkage between facility bond elections and the indicators of wealth (property valuation and income) and the appropriateness of relying on property valuations as the primary indicator of school district wealth. Results from 31 randomly selected schools in Nebraska show an unclear relationship between wealth factors and success in…

75 FR 71733 - Requirements for Measurement Facilities Used for the Royalty Valuation of Processed Natural Gas

Federal Register 2010, 2011, 2012, 2013, 2014

2010-11-24

... measurement of inlet production, residue gas, fuel gas, flare gas, condensate, natural gas liquids, or any... governing gas and liquid hydrocarbon production measurement. We have recently completed the first phase of... Requirements for Measurement Facilities Used for the Royalty Valuation of Processed Natural Gas AGENCY: Bureau...

78 FR 38829 - Product Valuation

Federal Register 2010, 2011, 2012, 2013, 2014

2013-06-28

... DEPARTMENT OF THE INTERIOR Office of Natural Resources Revenue 30 CFR Part 1206 Product Valuation CFR Correction In Title 30 of the Code of Federal Regulations, Part 700 to End, revised as of July 1, 2012, on page 742, in Sec. 1206.57, in paragraph (c)(3), the first sentence is corrected to read as...

78 FR 19100 - Product Valuation

Federal Register 2010, 2011, 2012, 2013, 2014

2013-03-29

... DEPARTMENT OF THE INTERIOR Surface Mining Reclamation and Enforcement 30 CFR Part 1206 Product Valuation CFR Correction In Title 30 of the Code of Federal Regulations, Parts 700 to End, revised as of July 1, 2012, on page 742, in Sec. 1206.57(d)(3) the reference to ``Sec. 1218.54'' is corrected to read...

Investigating habitat value to inform contaminant remediation options: approach

Treesearch

Rebecca A. Efroymson; Mark J. Peterson; Christopher J. Welsh; Daniel L. Druckenbrod; Michael G. Ryon; John G. Smith; William W. Hargrove; Neil R. Giffen; W. Kelly Roy; Harry D. Quarles

2008-01-01

Habitat valuation methods are most often developed and used to prioritize candidate lands for conservation. In this study the intent of habitat valuation was to inform the decision-making process for remediation of chemical contaminants on specific lands or surface water bodies. Methods were developed to summarize dimensions of habitat value for six representative...

An American Dilemma. The Negro problem and Modern Democracy. Volume II.

ERIC Educational Resources Information Center

Myrdal, Gunnar

This study, originally commissioned by the Carnegie Corporation in 1938, makes it clear that the root of the "Negro problem" is the conflict between American moral valuations preserved in the American ideal and the valuations existing on specific planes of individual and group living. There is a jarring discrepancy between the professed…

Introducing Valuation Effects-Based External Balance Analysis into the Undergraduate Macroeconomics Curricula: A Simple Framework with Applications

ERIC Educational Resources Information Center

Brust, Peter; Jayakumar, Vivekanand

2012-01-01

Global imbalances and the sustainability of large U.S. current account deficits have dominated international macroeconomics of late. Pedagogically, a clear disconnect exists between graduate-level open-economy macroeconomics that emphasizes intertemporal current account models and net foreign asset adjustment featuring valuation effects, and,…

17 CFR 270.2a-1 - Valuation of portfolio securities in special cases.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 17 Commodity and Securities Exchanges 3 2010-04-01 2010-04-01 false Valuation of portfolio securities in special cases. 270.2a-1 Section 270.2a-1 Commodity and Securities Exchanges SECURITIES AND... of portfolio securities in special cases. (a) Any investment company whose securities are qualified...

Value for money? A contingent valuation study of the optimal size of the Swedish health care budget.

PubMed

Eckerlund, I; Johannesson, M; Johansson, P O; Tambour, M; Zethraeus, N

1995-11-01

The contingent valuation method has been developed in the environmental field to measure the willingness to pay for environmental changes using survey methods. In this exploratory study the contingent valuation method was used to analyse how much individuals are willing to spend in total in the form of taxes for health care in Sweden, i.e. to analyse the optimal size of the 'health care budget' in Sweden. A binary contingent valuation question was included in a telephone survey of a random sample of 1260 households in Sweden. With a conservative interpretation of the data the result shows that 50% of the respondents would accept an increased tax payment to health care of about SEK 60 per month ($1 = SEK 8). It is concluded that the results indicate that the population overall thinks that the current spending on health care in Sweden is on a reasonable level. There seems to be a willingness to increase the tax payments somewhat, but major increases does not seem acceptable to a majority of the population.

The ecological rationality of state-dependent valuation.

PubMed

McNamara, J M; Trimmer, P C; Houston, A I

2012-01-01

Laboratory studies on a range of animals have identified a bias that seems to violate basic principles of rational behavior: a preference is shown for feeding options that previously provided food when reserves were low, even though another option had been found to give the same reward with less delay. The bias presents a challenge to normative models of decision making (which only take account of expected rewards and the state of the animal at the decision time). To understand the behavior, we take a broad ecological perspective and consider how valuation mechanisms evolve when the best action depends upon the environment being faced. We show that in a changing and uncertain environment, state-dependent valuation can be favored by natural selection: Individuals should allow their hunger to affect learning for future decisions. The valuation mechanism that typically evolves produces the kind of behavior seen in standard laboratory tests. By providing an insight into why learning should be affected by the state of an individual, we provide a basis for understanding psychological principles in terms of an animal's ecology.

Cost and performance tradeoffs between mail and internet survey modes in a nonmarket valuation study

Treesearch

Robert M. Campbell; Tyron Venn; Nathaniel M. Anderson

2018-01-01

Using the results of a choice modeling survey, internet, mail-only and mixed internet and mail survey modes were examined with regards to their cost-effectiveness, representativeness, and willingness to pay (WTP). The topical focus of the study was biomass energy generation preferences of the residents of Montana, Colorado and Arizona, USA. Compared to the mail and...

Comparing WTP values of different types of QALY gain elicited from the general public.

PubMed

Pennington, Mark; Baker, Rachel; Brouwer, Werner; Mason, Helen; Hansen, Dorte Gyrd; Robinson, Angela; Donaldson, Cam

2015-03-01

The appropriate thresholds for decisions on the cost-effectiveness of medical interventions remain controversial, especially in 'end-of-life' situations. Evidence of the values placed on different types of health gain by the general public is limited. Across nine European countries, 17,657 people were presented with different hypothetical health scenarios each involving a gain of one quality adjusted life year (QALY) and asked about their willingness to pay (WTP) for that gain. The questions included quality of life (QoL) enhancing and life extending health gains, and a scenario where respondents faced imminent, premature death. The mean WTP values for a one-QALY gain composed of QoL improvements were modest (PPP$11,000). When comparing QALY gains obtained in the near future, the valuation of life extension exceeded the valuation of QoL enhancing gains (mean WTP PPP$19,000 for a scenario in which a coma is avoided). The mean WTP values were higher still when respondents faced imminent, premature death (PPP$29,000). Evidence from the largest survey on the value of health gains by the general public indicated a higher value for life extending gains compared with QoL enhancing gains. A further modest premium may be indicated for life extension when facing imminent, premature death. Copyright © 2013 John Wiley & Sons, Ltd.

Variability in impact of air pollution on subjective well-being

NASA Astrophysics Data System (ADS)

Du, Guodong; Shin, Kong Joo; Managi, Shunsuke

2018-06-01

This paper examines the impact of variability in impact of air pollution on life satisfaction (LS). Previous studies have shown robust negative impact of air pollution on subjective well-being (SWB). However, empirical studies that consider variability in air pollution effects through comparative city study are limited. This study provides comparative evaluation of two major Chinese cities: Beijing and Shanghai. We apply a geo-statistical spatial interpolation technique on pollution data from monitoring sites to estimate the Sulfur Dioxide (SO2), Nitrogen Dioxide (NO2), coarse particles with a diameter between 2.5 and 10 μm (PM10) and fine particles with a diameter of 2.5 μm or less (PM2.5) pollution exposure of respondents of a survey conducted in 2016. The results show that all pollutants have robust negative impacts on LS for Beijing residents, whereas only SO2 and NO2 have significant negative impacts on LS for Shanghai residents; Per unit impact of SO2 is greater in Shanghai, and that of NO2 is greater in Beijing. Beijing and Shanghai residents have almost same monetary valuation for SO2 reduction but Beijing residents place approximately 1.5 times valuation on NO2 reduction compared to Shanghai residents. Moreover, the LS of Beijing residents is sensitive to temporal changes in the pollution level, whereas Shanghai residents are unaffected by such changes.

Unsustainable Growth, Hyper-Competition, and Worth in Life Science Research: Narrowing Evaluative Repertoires in Doctoral and Postdoctoral Scientists' Work and Lives.

PubMed

Fochler, Maximilian; Felt, Ulrike; Müller, Ruth

There is a crisis of valuation practices in the current academic life sciences, triggered by unsustainable growth and "hyper-competition." Quantitative metrics in evaluating researchers are seen as replacing deeper considerations of the quality and novelty of work, as well as substantive care for the societal implications of research. Junior researchers are frequently mentioned as those most strongly affected by these dynamics. However, their own perceptions of these issues are much less frequently considered. This paper aims at contributing to a better understanding of the interplay between how research is valued and how young researchers learn to live, work and produce knowledge within academia. We thus analyze how PhD students and postdocs in the Austrian life sciences ascribe worth to people, objects and practices as they talk about their own present and future lives in research. We draw on literature from the field of valuation studies and its interest in how actors refer to different forms of valuation to account for their actions. We explore how young researchers are socialized into different valuation practices in different stages of their growing into science. Introducing the concept of "regimes of valuation" we show that PhD students relate to a wider evaluative repertoire while postdocs base their decisions on one dominant regime of valuing research. In conclusion, we discuss the implications of these findings for the epistemic and social development of the life sciences, and for other scientific fields.

Neural valuation of environmental resources.

PubMed

Sawe, Nik; Knutson, Brian

2015-11-15

How do people value environmental resources? To estimate public valuation of natural resources, researchers often conduct surveys that ask people how much they would be willing to pay to preserve or restore threatened natural resources. However, these survey responses often elicit complex affective responses, including negative reactions toward proposed destructive land uses of those resources. To better characterize processes that underlie the valuation of environmental resources, we conducted behavioral and neuroimaging experiments in which subjects chose whether or not to donate money to protect natural park lands (iconic versus non-iconic) from proposed land uses (destructive versus non-destructive). In both studies, land use destructiveness motivated subjects' donations more powerfully than did the iconic qualities of the parks themselves. Consistent with an anticipatory affect account, nucleus accumbens (NAcc) activity increased in response to more iconic parks, while anterior insula activity increased in response to more destructive uses, and the interaction of these considerations altered activity in the medial prefrontal cortex (MPFC). Further, anterior insula activity predicted increased donations to preserve parks threatened by destructive uses, but MPFC activity predicted reduced donations. Finally, individuals with stronger pro-environmental attitudes showed greater anterior insula activity in response to proposed destructive uses. These results imply that negative responses to destructive land uses may play a prominent role in environmental valuation, potentially overshadowing positive responses to the environmental resources themselves. The findings also suggest that neuroimaging methods might eventually complement traditional survey methods by allowing researchers to disentangle distinct affective responses that influence environmental valuation. Copyright © 2015. Published by Elsevier Inc.

Commercial mortgages: An underutilized channel for scaling energy efficiency investments?

DOE Office of Scientific and Technical Information (OSTI.GOV)

Mathew, Paul; Wallace, Nancy; Alschuler, Elena

2016-02-01

Commercial mortgages currently do not fully account for energy factors in underwriting and valuation, particularly as it relates to the impact of energy costs and volatility on an owner’s net operating income. As a consequence, energy efficiency is not properly valued and energy risks are not properly assessed and mitigated. Commercial mortgages are a large lever and could be a significant channel for scaling energy efficiency investments. A pilot analysis of loans with different mortgage contract structures and locations showed that when energy cost volatility was included in mortgage valuation, a 20% reduction in energy use resulted in a 1.3%more » average increase in mortgage value. This suggests that the explicit inclusion of energy use and volatility in mortgage valuation can send a strong price signal that financially rewards and values energy efficiency in commercial properties. This paper presents findings from a scoping study addressing energy factors in commercial mortgages. First, we present a review of current practices as it relates to incorporating energy factors into commercial mortgage underwriting and valuation. Next, we detail the impacts of energy factors on property values, net operating income and mortgage valuation. Building operational practices alone can result in energy use variations from -17% to 87%. Finally, we present a set of proposed interventions to properly address energy factors in commercial mortgages, based on extensive discussions with stakeholders including mortgage originators, underwriters, building owners and regulators.« less

What's it worth? A general manager's guide to valuation.

PubMed

Luehrman, T A

1997-01-01

Behind every major resource-allocation decision a company makes lies some calculation of what that move is worth. So it is not surprising that valuation is the financial analytical skill general managers want to learn more than any other. Managers whose formal training is more than a few years old, however, are likely to have learned approaches that are becoming obsolete. What do generalists need in an updated valuation tool kit? In the 1970s, discounted-cash-flow analysis (DCF) emerged as best practice for valuing corporate assets. And one version of DCF-using the weighted-average cost of capital (WACC)-became the standard. Over the years, WACC has been used by most companies as a one-size-fits-all valuation tool. Today the WACC standard is insufficient. Improvements in computers and new theoretical insights have given rise to tools that outperform WACC in the three basic types of valuation problems managers face. Timothy Luehrman presents an overview of the three tools, explaining how they work and when to use them. For valuing operations, the DCF methodology of adjusted present value allows managers to break a problem into pieces that make managerial sense. For valuing opportunities, option pricing captures the contingent nature of investments in areas such as R&D and marketing. And for valuing ownership claims, the tool of equity cash flows helps managers value their company's stake in a joint venture, a strategic alliance, or an investment that uses project financing.

Neural Mechanisms of the Transformation from Objective Value to Subjective Utility: Converting from Count to Worth.

PubMed

Kurnianingsih, Yoanna A; Mullette-Gillman, O'Dhaniel A

2016-01-01

When deciding, we aim to choose the "best" possible outcome. This is not just selection of the option that is the most numerous or physically largest, as options are translated from objective value (count) to subjective value (worth or utility). We localized the neural instantiation of the value-to-utility transformation to the dorsal anterior midcingulate cortex (daMCC), with independent replication. The daMCC encodes the context-specific information necessary to convert from count to worth. This encoding is not simply a representation of utility or preference, but the interaction of the two. Specifically, the relationship of brain activation to value is dependent on individual preference, with both positive and negative slopes across the population depending on whether each individual's preference results in enhancement or diminishment of the valuation. For a given value, across participants, enhanced daMCC activation corresponds to diminished subjective valuation, deactivation to enhanced subjective valuation, and non-modulated activation with non-modulated subjective valuation. Further, functional connectivity analyses identified brain regions (positive connectivity with the inferior frontal gyrus and negative connectivity with the nucleus accumbens) through which contextual information may be integrated into the daMCC and allow for outputs to modulate valuation signals. All analyses were replicated through an independent within-study replication, with initial testing in the gains domain and replication in the intermixed and mirrored losses trials. We also present and discuss an ancillary finding: we were unable to identify parametric value signals for losses through whole-brain analyses, and ROI analyses of the vmPFC presented non-modulation across loss value levels. These results identify the neural locus of the value-to-utility transformation, and provide a specific computational function for the daMCC in the production of subjective valuation through the integration of value, context, and preferences.

Approximation Algorithms for the Highway Problem under the Coupon Model

NASA Astrophysics Data System (ADS)

Hamane, Ryoso; Itoh, Toshiya; Tomita, Kouhei

When a store sells items to customers, the store wishes to decide the prices of items to maximize its profit. Intuitively, if the store sells the items with low (resp. high) prices, the customers buy more (resp. less) items, which provides less profit to the store. So it would be hard for the store to decide the prices of items. Assume that the store has a set V of n items and there is a set E of m customers who wish to buy the items, and also assume that each item i ∈ V has the production cost di and each customer ej ∈ E has the valuation vj on the bundle ej ⊆ V of items. When the store sells an item i ∈ V at the price ri, the profit for the item i is pi = ri - di. The goal of the store is to decide the price of each item to maximize its total profit. We refer to this maximization problem as the item pricing problem. In most of the previous works, the item pricing problem was considered under the assumption that pi ≥ 0 for each i ∈ V, however, Balcan, et al. [In Proc. of WINE, LNCS 4858, 2007] introduced the notion of “loss-leader, ” and showed that the seller can get more total profit in the case that pi < 0 is allowed than in the case that pi < 0 is not allowed. In this paper, we consider the line highway problem (in which each customer is interested in an interval on the line of the items) and the cycle highway problem (in which each customer is interested in an interval on the cycle of the items), and show approximation algorithms for the line highway problem and the cycle highway problem in which the smallest valuation is s and the largest valuation is l (this is called an [s, l]-valuation setting) or all valuations are identical (this is called a single valuation setting).

[Ecosystem services valuation of Qinghai Lake].

PubMed

Jiang, Bo; Zhang, Lu; Ouyang, Zhi-yun

2015-10-01

Qinghai Lake is the largest inland and salt water lake in China, and provides important ecosystem services to beneficiaries. Economic valuation of wetland ecosystem services from Qinghai Lake can reveal the direct contribution of lake ecosystems to beneficiaries using economic data, which can advance the incorporation of wetland protection of Qinghai Lake into economic tradeoffs and decision analyses. In this paper, we established a final ecosystem services valuation system based on the underlying ecological mechanisms and regional socio-economic conditions. We then evaluated the eco-economic value provided by the wetlands at Qinghai Lake to beneficiaries in 2012 using the market value method, replacement cost method, zonal travel cost method, and contingent valuation method. According to the valuation result, the total economic values of the final ecosystem services provided by the wetlands at Qinghai Lake were estimated to be 6749.08 x 10(8) yuan RMB in 2012, among which the value of water storage service and climate regulation service were 4797.57 x 10(8) and 1929.34 x 10(8) yuan RMB, accounting for 71.1% and 28.6% of the total value, respectively. The economic value of the 8 final ecosystem services was ranked from greatest to lowest as: water storage service > climate regulation service > recreation and tourism service > non-use value > oxygen release service > raw material production service > carbon sequestration service > food production service. The evaluation result of this paper reflects the substantial value that the wetlands of Qinghai Lake provide to beneficiaries using monetary values, which has the potential to help increase wetland protection awareness among the public and decision-makers, and inform managers about ways to create ecological compensation incentives. The final ecosystem service evaluation system presented in this paper will offer guidance on separating intermediate services and final services, and establishing monitoring programs for dynamic ecosystem services valuation with the aim of helping improve management outcomes.

Neural Mechanisms of the Transformation from Objective Value to Subjective Utility: Converting from Count to Worth

PubMed Central

Kurnianingsih, Yoanna A.; Mullette-Gillman, O'Dhaniel A.

2016-01-01

When deciding, we aim to choose the “best” possible outcome. This is not just selection of the option that is the most numerous or physically largest, as options are translated from objective value (count) to subjective value (worth or utility). We localized the neural instantiation of the value-to-utility transformation to the dorsal anterior midcingulate cortex (daMCC), with independent replication. The daMCC encodes the context-specific information necessary to convert from count to worth. This encoding is not simply a representation of utility or preference, but the interaction of the two. Specifically, the relationship of brain activation to value is dependent on individual preference, with both positive and negative slopes across the population depending on whether each individual's preference results in enhancement or diminishment of the valuation. For a given value, across participants, enhanced daMCC activation corresponds to diminished subjective valuation, deactivation to enhanced subjective valuation, and non-modulated activation with non-modulated subjective valuation. Further, functional connectivity analyses identified brain regions (positive connectivity with the inferior frontal gyrus and negative connectivity with the nucleus accumbens) through which contextual information may be integrated into the daMCC and allow for outputs to modulate valuation signals. All analyses were replicated through an independent within-study replication, with initial testing in the gains domain and replication in the intermixed and mirrored losses trials. We also present and discuss an ancillary finding: we were unable to identify parametric value signals for losses through whole-brain analyses, and ROI analyses of the vmPFC presented non-modulation across loss value levels. These results identify the neural locus of the value-to-utility transformation, and provide a specific computational function for the daMCC in the production of subjective valuation through the integration of value, context, and preferences. PMID:27881949

Formulaic expert method to integrate evaluation and valuation of heritage trees in compact city.

PubMed

Jim, C Y

2006-05-01

Urban trees serve important environmental, social and economic functions, but similar to other natural endowments they are not customarily depicted in monetary terms. The needs to augment protection, funding and community support for urban greening call for proper valuation. Heritage trees (HTs), the cream of urban-tree stock, deserve special attention. Existing assessment methods do not give justice to outstanding trees in compact cities deficient in high-caliber greenery, and to their social-cultural-historical importance. They artificially separate evaluation from valuation, which should be a natural progression from the former. Review of tree valuation methods suggested the formula approach to be more suitable than contingent valuation and hedonic pricing, and provided hints on their strengths and weaknesses. This study develops an alternative formulaic expert method (FEM) that integrates evaluation and valuation, maximizes objectivity, broadly encompasses the key tree, tree-environment and tree-human traits, and accords realistic monetary value to HTs. Six primary criteria (dimension, species, tree, condition, location, and outstanding consideration) branched into 45 secondary criteria, each allocated numerical marks. Each primary criterion was standardized to carry equal weight, and a tree's maximum aggregate score is capped at 100. A Monetary Assignment Factor (MAF) to consign dollar value to each score unit was derived from three-year average per m(2) sale price of medium-sized residential flats. The applicability of FEM was tested on selected HTs in compact Hong Kong. The aggregate score of a tree multiplied by MAF yielded monetary value, which was on average 66 times higher than the result from the commonly-adopted Council of Tree and Landscape Appraisers method. The computed tree values could be publicized together with multiple tree benefits to raise understanding and awareness and rally support to protect HTs. The property-linked FEM could be flexibly applied to other cities, especially to assess HTs in compact developing cities.

Valuation of Electric Power System Services and Technologies

DOE Office of Scientific and Technical Information (OSTI.GOV)

Kintner-Meyer, Michael C. W.; Homer, Juliet S.; Balducci, Patrick J.

Accurate valuation of existing and new technologies and grid services has been recognized to be important to stimulate investment in grid modernization. Clear, transparent, and accepted methods for estimating the total value (i.e., total benefits minus cost) of grid technologies and services are necessary for decision makers to make informed decisions. This applies to home owners interested in distributed energy technologies, as well as to service providers offering new demand response services, and utility executives evaluating best investment strategies to meet their service obligation. However, current valuation methods lack consistency, methodological rigor, and often the capabilities to identify and quantifymore » multiple benefits of grid assets or new and innovative services. Distributed grid assets often have multiple benefits that are difficult to quantify because of the locational context in which they operate. The value is temporally, operationally, and spatially specific. It varies widely by distribution systems, transmission network topology, and the composition of the generation mix. The Electric Power Research Institute (EPRI) recently established a benefit-cost framework that proposes a process for estimating multiple benefits of distributed energy resources (DERs) and the associated cost. This document proposes an extension of this endeavor that offers a generalizable framework for valuation that quantifies the broad set of values for a wide range of technologies (including energy efficiency options, distributed resources, transmission, and generation) as well as policy options that affect all aspects of the entire generation and delivery system of the electricity infrastructure. The extension includes a comprehensive valuation framework of monetizable and non-monetizable benefits of new technologies and services beyond the traditional reliability objectives. The benefits are characterized into the following categories: sustainability, affordability, and security, flexibility, and resilience. This document defines the elements of a generic valuation framework and process as well as system properties and metrics by which value streams can be derived. The valuation process can be applied to determine the value on the margin of incremental system changes. This process is typically performed when estimating the value of a particular project (e.g., value of a merchant generator, or a distributed photovoltaic (PV) rooftop installation). Alternatively, the framework can be used when a widespread change in the grid operation, generation mix, or transmission topology is to be valued. In this case a comprehensive system analysis is required.« less

Review of disability weight studies: comparison of methodological choices and values

PubMed Central

2014-01-01

Introduction The disability-adjusted life year (DALY) is widely used to assess the burden of different health problems and risk factors. The disability weight, a value anchored between 0 (perfect health) and 1 (equivalent to death), is necessary to estimate the disability component (years lived with disability, YLDs) of the DALY. After publication of the ground-breaking Global Burden of Disease (GBD) 1996, alternative sets of disability weights have been developed over the past 16 years, each using different approaches with regards to the panel, health state description, and valuation methods. The objective of this study was to review all studies that developed disability weights and to critically assess the methodological design choices (health state and time description, panel composition, and valuation method). Furthermore, disability weights of eight specific conditions were compared. Methods Disability weights studies (1990¿2012) in international peer-reviewed journals and grey literature were identified with main inclusion criteria being that the study assessed DALY disability weights for several conditions or a specific group of illnesses. Studies were collated by design and methods and evaluation of results. Results Twenty-two studies met the inclusion criteria of our review. There is considerable variation in methods used to derive disability weights, although most studies used a disease-specific description of the health state, a panel that consisted of medical experts, and nonpreference-based valuation method to assess the values for the majority of the disability weights. Comparisons of disability weights across 15 specific disease and injury groups showed that the subdivision of a disease into separate health states (stages) differed markedly across studies. Additionally, weights for similar health states differed, particularly in the case of mild diseases, for which the disability weight differed by a factor of two or more. Conclusions In terms of comparability of the resulting YLDs, the global use of the same set of disability weights has advantages, though practical constraints and intercultural differences should be taken into account into such a set. PMID:26019690

Replacement Beef Cow Valuation under Data Availability Constraints

PubMed Central

Hagerman, Amy D.; Thompson, Jada M.; Ham, Charlotte; Johnson, Kamina K.

2017-01-01

Economists are often tasked with estimating the benefits or costs associated with livestock production losses; however, lack of available data or absence of consistent reporting can reduce the accuracy of these valuations. This work looks at three potential estimation techniques for determining the value for replacement beef cows with varying types of market data to proxy constrained data availability and discusses the potential margin of error for each technique. Oklahoma bred replacement cows are valued using hedonic pricing based on Oklahoma bred cow data—a best case scenario—vector error correction modeling (VECM) based on national cow sales data and cost of production (COP) based on just a representative enterprise budget and very limited sales data. Each method was then used to perform a within-sample forecast of 2016 January to December, and forecasts are compared with the 2016 monthly observed market prices in Oklahoma using the mean absolute percent error (MAPE). Hedonic pricing methods tend to overvalue for within-sample forecasting but performed best, as measured by MAPE for high quality cows. The VECM tended to undervalue cows but performed best for younger animals. COP performed well, compared with the more data intensive methods. Examining each method individually across eight representative replacement beef female types, the VECM forecast resulted in a MAPE under 10% for 33% of forecasted months, followed by hedonic pricing at 24% of the forecasted months and COP at 14% of the forecasted months for average quality beef females. For high quality females, the hedonic pricing method worked best producing a MAPE under 10% in 36% of the forecasted months followed by the COP method at 21% of months and the VECM at 14% of the forecasted months. These results suggested that livestock valuation method selection was not one-size-fits-all and may need to vary based not only on the data available but also on the characteristics (e.g., quality or age) of the livestock being valued. PMID:29164141

Assessing the Warm Glow Effect in Contingent Valuations for Public Libraries

ERIC Educational Resources Information Center

Lee, Soon-Jae; Chung, Hye-Kyung; Jung, Eun-Joo

2010-01-01

This article aims to present evidence of the warm glow effect in a public library setting. More specifically, it tests whether individual respondents with different values for the warm glow component report different values for their willingness to pay (WTP). The data come from a contingent valuation survey conducted on randomly selected citizens…

30 CFR 210.153 - What reports must I submit for Indian gas valuation purposes?

Code of Federal Regulations, 2010 CFR

2010-07-01

... INTERIOR MINERALS REVENUE MANAGEMENT FORMS AND REPORTS Special-Purpose Forms and Reports-Oil, Gas, and Geothermal Resources § 210.153 What reports must I submit for Indian gas valuation purposes? (a) General. For... 30 Mineral Resources 2 2010-07-01 2010-07-01 false What reports must I submit for Indian gas...