What's your group worth?

PubMed

Greenberg, M R

1986-01-01

With the advent of acquisitions and mergers of healthcare organizations, it has become necessary for medical group practices to know what they are worth. The traditional balance sheet valuation ignores what is perhaps the most important consideration of all: a group's earning potential. Discussed in this article are the many facets of the complex valuation process, including both tangible and intangible assets, and the author provides a method for adequately determining a range of values for a medical group.

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.

A method of transition conflict resolving in hierarchical control

NASA Astrophysics Data System (ADS)

Łabiak, Grzegorz

2016-09-01

The paper concerns the problem of automatic solving of transition conflicts in hierarchical concurrent state machines (also known as UML state machine). Preparing by the designer a formal specification of a behaviour free from conflicts can be very complex. In this paper, it is proposed a method for solving conflicts through transition predicates modification. Partially specified predicates in the nondeterministic diagram are transformed into a symbolic Boolean space, whose points of the space code all possible valuations of transition predicates. Next, all valuations under partial specifications are logically multiplied by a function which represents all possible orthogonal predicate valuations. The result of this operation contains all possible collections of predicates, which under given partial specification make that the original diagram is conflict free and deterministic.

Fuzzy net present valuation based on risk assessment of Malaysian infrastructure

NASA Astrophysics Data System (ADS)

Shaffie, Siti Salihah; Jaaman, Saiful Hafizah; Mohamad, Daud

2017-04-01

In recent years, built-operate-transfer (BOT) projects have profoundly been accepted under project financing for infrastructure developments in many countries. It requires high financing and involves complex mutual risk. The assessment of the risks is vital to avert huge financial loss. Net present value is widely applied to BOT project where the uncertainties in cash flows are deemed to be deterministic values. This study proposed a fuzzy net present value model taking consideration the assessment of risks from the BOT project. The proposed model is adopted to provide more flexible net present valuation of the project. It is shown and proven that the improved fuzzy cash flow model will provide a valuation that is closed to the real value of the project.

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.

Real Option in Capital Budgeting for SMEs: Insight from Steel Company

NASA Astrophysics Data System (ADS)

Muharam, F. M.; Tarrazon, M. A.

2017-06-01

Complex components of investment projects can only be analysed accurately if flexibility and comprehensive consideration of uncertainty are incorporated into valuation. Discounted cash flow (DCF) analysis has failed to cope with strategic future alternatives that affect the right value of investment projects. Real option valuation (ROV) proves to be the right tool for this purpose since it enables to calculate the enlarged or strategic Net Present Value (ENPV). This study attempts to provide an insight of the usage of ROV in capital budgeting and investment decision-making processes of SMEs. Exploring into the first stage processing of steel industry, analysis of alternatives to cancel, to expand, to defer or to abandon is performed. Completed with multiple options interaction and a sensitivity analysis, our findings prove that the application of ROV is beneficial for complex investment projects independently from the size of the company and particularly suitable in scenarios with scarce resources. The application of Real Option Valuation (ROV) is plausible and beneficial for SMEs to be incorporated in the strategic decision making process.

Thinking About CAS without Thinking about CAS Doctrine: Selected Interactions of Institutional Processes within the Close Air Support Mission

DTIC Science & Technology

2013-12-13

situation; (2) the valuation actors assign to states of the world and to actions; (3) the way actors acquire, process, retain, and use knowledge...situation based on previous experiences or training, or even personal views about the conflict. The valuation actors assign to states of the world and...include one hour on a dedicated air-to-ground training range, such as the Superior Valley range complex near Naval Air Weapons Station China Lake, 42

The valuation of health care intangible assets.

PubMed

Reilly, R F; Rabe, J R

1997-01-01

Health care entities (and especially medical practices) are valued for a number of reasons: sale transaction pricing and structuring, merger formation and dissolution, taxation and regulatory compliance, and litigation support and dispute resolution. The identification and quantification of the entity's intangible assets are often the most important aspects of the valuation. This article illustrates the generally accepted methods for valuing health care-related intangible assets.

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.

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.

Valuation of biodiversity effects from reduced pesticide use.

PubMed

Schou, Jesper S; Hasler, Berit; Nahrstedt, Birgit

2006-04-01

This study deals with the effects on biodiversity of pesticide-free buffer zones along field margins. Using choice modeling, the majority of respondents to a survey on pesticide use in the environment are willing to accept an increase in the price of bread if the survival of partridge chicks and the number of wild plants increase. The study identifies the need for further empirical work with respect to methodological validation, price estimation, and the use of survey results in policy analysis. In particular, the environmental effects of pesticide use are complex and, therefore, present difficult challenges when presenting information to lay people. Forty-one percent of respondents changed their responses regarding willingness to pay more for bread when references to pesticide use were introduced in the questionnaire. This indicates that scenarios depicting changes in pesticide use can be difficult to present to lay people in an economically rational and well-defined context. Thus, in the study of valuation related to changes in pesticide use, much attention should be devoted to the design and definition of the context. Furthermore, the effects of providing different background information, e.g., with or without the mention of pesticides, should be tested.

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.

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.

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

Not-for-profits trek into for-profit accounting: goodwill impairments.

PubMed

2011-03-01

Acquisitions may be integral and strategic drivers for successfully executing the business objectives of an entity or fulfilling its mission. The new guidance creates accounting and valuation challenges for not-for-profit entities that for-profit entities have been dealing with for years. Now that not-for-profit entities apply the same principles, the fair value concepts and accounting complexities are more pervasive. By brining to bear the rights complement of accounting, finance, and valuation resources, not-for-profit entities can successfully navigate these challenges and gain an understanding of the full magnitude of acquisition decisions on financial results.

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.

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

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.

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.

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

Defense Horizons. Number 78, March 2015

DTIC Science & Technology

2015-03-01

and antelope Valley College (aVC) results in increases in number of scientists, engi- neers, and technicians from which to draw employees for the...should address best prac- tices for project valuation , what types of formalized arrangements are acceptable, and legal precedents that allow such

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.

Mathematically gifted adolescents have deficiencies in social valuation and mentalization.

PubMed

Yun, Kyongsik; Chung, Dongil; Jang, Bosun; Kim, Jin Ho; Jeong, Jaeseung

2011-04-04

Many mathematically gifted adolescents are characterized as being indolent, underachieving and unsuccessful despite their high cognitive ability. This is often due to difficulties with social and emotional development. However, research on social and emotional interactions in gifted adolescents has been limited. The purpose of this study was to observe differences in complex social strategic behaviors between gifted and average adolescents of the same age using the repeated Ultimatum Game. Twenty-two gifted adolescents and 24 average adolescents participated in the Ultimatum Game. Two adolescents participate in the game, one as a proposer and the other as a responder. Because of its simplicity, the Ultimatum Game is an apt tool for investigating complex human emotional and cognitive decision-making in an empirical setting. We observed strategic but socially impaired offers from gifted proposers and lower acceptance rates from gifted responders, resulting in lower total earnings in the Ultimatum Game. Thus, our results indicate that mathematically gifted adolescents have deficiencies in social valuation and mentalization.

Transforming the Enterprise of Acquiring Public Sector Complex Systems

DTIC Science & Technology

2006-04-30

analytic equation that determines the value of a compound call option (see Geske , 1979; Cassimon et al., 2004). Another approach that is more...Park, MD: University of Maryland, Center for Public Policy and Private Enterprise. Geske , R. (1979). The valuation of compound options. Journal of

Economic valuation of environmental benefits from wastewater treatment processes: an empirical approach for Spain.

PubMed

Hernández-Sancho, Francesc; Molinos-Senante, María; Sala-Garrido, Ramón

2010-01-15

Economic research into the design and implementation of policies for the efficient management of water resources has been emphasized by the European Water Framework Directive (Directive 2000/60/EC). The efficient implementation of policies to prevent the degradation and depletion of water resources requires determining their value in social and economic terms and incorporating this information into the decision-making process. A process of wastewater treatment has many associated environmental benefits. However, these benefits are often not calculated because they are not set by the market, due to inadequate property rights, the presence of externalities, and the lack of perfect information. Nevertheless, the valuation of these benefits is necessary to justify a suitable investment policy and a limited number of studies exist on the subject of the economic valuation of environmental benefits. In this paper, we propose a methodology based on the estimation of shadow prices for the pollutants removed in a treatment process. This value represents the environmental benefit (avoided cost) associated with undischarged pollution. This is a pioneering approach to the economic valuation of wastewater treatment. The comparison of these benefits with the internal costs of the treatment process will provide a useful indicator for the feasibility of wastewater treatment projects. Copyright 2009 Elsevier B.V. All rights reserved.

Integrative evaluation for sustainable decisions of urban wastewater system management under uncertainty

NASA Astrophysics Data System (ADS)

Hadjimichael, A.; Corominas, L.; Comas, J.

2017-12-01

With sustainable development as their overarching goal, urban wastewater system (UWS) managers need to take into account multiple social, economic, technical and environmental facets related to their decisions. In this complex decision-making environment, uncertainty can be formidable. It is present both in the ways the system is interpreted stochastically, but also in its natural ever-shifting behavior. This inherent uncertainty suggests that wiser decisions would be made under an adaptive and iterative decision-making regime. No decision-support framework has been presented in the literature to effectively addresses all these needs. The objective of this work is to describe such a conceptual framework to evaluate and compare alternative solutions for various UWS challenges within an adaptive management structure. Socio-economic aspects such as externalities are taken into account, along with other traditional criteria as necessary. Robustness, reliability and resilience analyses test the performance of the system against present and future variability. A valuation uncertainty analysis incorporates uncertain valuation assumptions in the decision-making process. The framework is demonstrated with an application to a case study presenting a typical problem often faced by managers: poor river water quality, increasing population, and more stringent water quality legislation. The application of the framework made use of: i) a cost-benefit analysis including monetized environmental benefits and damages; ii) a robustness analysis of system performance against future conditions; iii) reliability and resilience analyses of the system given contextual variability; and iv) a valuation uncertainty analysis of model parameters. The results suggest that the installation of bigger volumes would give rise to increased benefits despite larger capital costs, as well as increased robustness and resilience. Population numbers appear to affect the estimated benefits most, followed by electricity prices and climate change projections. The presented framework is expected to be a valuable tool for the next generation of UWS decision-making and the application demonstrates a novel and valuable integration of metrics and methods for UWS analysis.

Re-visioning local biologies: HIV-2 and the pattern of differential valuation in biomedical research.

PubMed

Gilbert, Hannah

2013-01-01

The discovery of HIV-2, a distinctly West African variant of HIV, is often portrayed as the result of a straightforward, if serendipitous, error. This article reframes the history of how HIV-2 came to be a knowable scientific identity. Relying on narratives from an African laboratory and clinic, it suggests that the rise and fall of HIV-2 as a viable research entity is indicative of a differential visibility and valuation of both human bodies and viruses. Understanding how HIV-2 emerged as a local biology reveals the complex set of relations that contemporary African scientists face in navigating local moral economies and the mercurial politics of the contemporary global health industry.

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

The Role of Earth Observations in "Valuing" Resources and the Environment

NASA Astrophysics Data System (ADS)

MacAuley, M.

2007-12-01

A wide range of decisionmakers and analysts, including government and industry resource managers, financial lenders and insurers, ecologists, conservationists, and economists have long struggled with how to ascribe "value" to environmental resources. Despite other differences among these experts, all agree that accurate measures of the physical status of resources are essential as a basis for valuation. Earth observations from space offer some of these measures and as a result, are becoming an essential component of valuation-oriented resource management. This paper illustrates the use of earth observations in two growing applications: payments for environmental services and index insurance for livestock and agriculture. These applications are taking place both in the United States and in an increasing number of other countries. The paper also highlights issues of concern about these uses of earth observations, including short- and long-term availability of data and quality of data. These concerns call into question the viability of building valuation approaches upon a mere assumption of data supply.

Valuation of Residential Premises for the Purposes of Securing the Receivables of the Creditor in Poland

NASA Astrophysics Data System (ADS)

Hełdak, Maria; Stacherzak, Agnieszka

2017-10-01

The study presents an analysis of the theoretical and practical issues connected with securing the receivables of creditors, in particular the principles connected with the appraisal of real property value used for the purposes of granting loans in Poland. The scope of research included the basic elements of the functioning and organisation of the Polish banking system, legal forms of securing debt receivables and the principles of real property valuation for universal and mortgage banks. Additionally, the authors have conducted an analysis of the number and amount of loans granted in Poland in the years 2009 - 2016

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.

Using transportation networks to inform valuation of water quality changes for saltwater recreation on Cape Cod, MA

EPA Science Inventory

Estimating the non-market value of beaches for saltwater recreation is complex. An individual’s preference for a beach depends on beach characteristics and perception. When choosing one beach over another, an individual balances these personal preferences with any additiona...

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.

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.

DOD Methodology for the Valuation of Excess, Obsolete, and Unserviceable Inventory and Operating Materials and Supplies

DTIC Science & Technology

2010-03-25

PROGRAM ELEMENT NUMBER 6. AUTHOR( S ) 5d. PROJECT NUMBER 5e. TASK NUMBER 5f. WORK UNIT NUMBER 7. PERFORMING ORGANIZATION NAME( S ) AND ADDRESS(ES...AGENCY NAME( S ) AND ADDRESS(ES) 10. SPONSOR/MONITOR’S ACRONYM( S ) 11. SPONSOR/MONITOR’S REPORT NUMBER( S ) 12. DISTRIBUTION/AVAILABILITY STATEMENT...Unserviceable FMR Financial Management Regulation OM& S Operating Materials and Supplies SFFAS Statement of Federal Financial Accounting Standards

A GIS-based hedonic price model for agricultural land

NASA Astrophysics Data System (ADS)

Demetriou, Demetris

2015-06-01

Land consolidation is a very effective land management planning approach that aims towards rural/agricultural sustainable development. Land reallocation which involves land tenure restructuring is the most important, complex and time consuming component of land consolidation. Land reallocation relies on land valuation since its fundamental principle provides that after consolidation, each landowner shall be granted a property of an aggregate value that is approximately the same as the value of the property owned prior to consolidation. Therefore, land value is the crucial factor for the land reallocation process and hence for the success and acceptance of the final land consolidation plan. Land valuation is a process of assigning values to all parcels (and its contents) and it is usually carried out by an ad-hoc committee. However, the process faces some problems such as it is time consuming hence costly, outcomes may present inconsistency since it is carried out manually and empirically without employing systematic analytical tools and in particular spatial analysis tools and techniques such as statistical/mathematical. A solution to these problems can be the employment of mass appraisal land valuation methods using automated valuation models (AVM) based on international standards. In this context, this paper presents a spatial based linear hedonic price model which has been developed and tested in a case study land consolidation area in Cyprus. Results showed that the AVM is capable to produce acceptable in terms of accuracy and reliability land values and to reduce time hence cost required by around 80%.

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...

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.

Are Health State Valuations from the General Public Biased? A Test of Health State Reference Dependency Using Self-assessed Health and an Efficient Discrete Choice Experiment.

PubMed

Jonker, Marcel F; Attema, Arthur E; Donkers, Bas; Stolk, Elly A; Versteegh, Matthijs M

2017-12-01

Health state valuations of patients and non-patients are not the same, whereas health state values obtained from general population samples are a weighted average of both. The latter constitutes an often-overlooked source of bias. This study investigates the resulting bias and tests for the impact of reference dependency on health state valuations using an efficient discrete choice experiment administered to a Dutch nationally representative sample of 788 respondents. A Bayesian discrete choice experiment design consisting of eight sets of 24 (matched pairwise) choice tasks was developed, with each set providing full identification of the included parameters. Mixed logit models were used to estimate health state preferences with respondents' own health included as an additional predictor. Our results indicate that respondents with impaired health worse than or equal to the health state levels under evaluation have approximately 30% smaller health state decrements. This confirms that reference dependency can be observed in general population samples and affirms the relevance of prospect theory in health state valuations. At the same time, the limited number of respondents with severe health impairments does not appear to bias social tariffs as obtained from general population samples. Copyright © 2016 John Wiley & Sons, Ltd. Copyright © 2016 John Wiley & Sons, Ltd.

Valuing the Implementation of Financial Literacy Education

ERIC Educational Resources Information Center

Davis, Kimberlee; Durband, Dorothy Bagwell

2008-01-01

Placing a monetary value on education is a complex task. A more difficult task is to determine at what monetary level individuals will support educational improvements. The contingent valuation method was used to estimate the value of the implementation of financial literacy education in Texas public schools. A Web-based survey was administered to…

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...

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...

78 FR 34352 - Agency Information Collection Activities; Comment Request

Federal Register 2010, 2011, 2012, 2013, 2014

2013-06-07

...: Individuals or households. Estimated Number of Respondents: 1,000 (and an additional 6,000 non-respondents). Estimated Total Annual Burden Hours: 350 hours (including non- response). Abstract: The Bureau seeks... information regarding consumers' perceptions and valuations of the two primary forms of dispute resolution...

Landslides geotechnical analysis. Qualitative assessment by valuation factors

NASA Astrophysics Data System (ADS)

Cuanalo Oscar, Sc D.; Oliva Aldo, Sc D.; Polanco Gabriel, M. E.

2012-04-01

In general, a landslide can cause a disaster when it is combined a number of factors such as an extreme event related to a geological phenomenon, vulnerable elements exposed in a specific geographic area, and the probability of loss and damage evaluated in terms of lives and economic assets, in a certain period of time. This paper presents the qualitative evaluation of slope stability through of Valuation Factors, obtained from the characterization of the determinants and triggers factors that influence the instability; for the first the morphology and topography, geology, soil mechanics, hydrogeology and vegetation to the second, the rain, earthquakes, erosion and scour, human activity, and ultimately dependent factors of the stability analysis, and its influence ranges which greatly facilitate the selection of construction processes best suited to improve the behavior of a slope or hillside. The Valuation Factors are a set of parameters for assessing the influence of conditioning and triggering factors that influence the stability of slopes and hillsides. The characteristics of each factor must be properly categorized to involve its effect on behavior; a way to do this is by assigning a weighted value range indicating its effect on the stability of a slope. It is proposed to use Valuation Factors with weighted values between 0 and 1 (arbitrarily selected but common sense and logic), the first corresponds to no or minimal effect on stability (no effect or very little influence) and the second, the greatest impact on it (has a significant influence). The meddle effects are evaluated with intermediate values.

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

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...

Defense Partnerships: Documenting Trends and Emerging Topics for Action

DTIC Science & Technology

2015-03-01

between the air force research lab and antelope Valley College (aVC) results in increases in number of scientists, engi- neers, and technicians from...guiding document, tool, or resource should address best prac- tices for project valuation , what types of formalized arrangements are acceptable, and

A novel method to value real options in health care: the case of a multicohort human papillomavirus vaccination strategy.

PubMed

Favato, Giampiero; Baio, Gianluca; Capone, Alessandro; Marcellusi, Andrea; Saverio Mennini, Francesco

2013-07-01

A large number of economic evaluations have already confirmed the cost-effectiveness of different human papillomavirus (HPV) vaccination strategies. Standard analyses might not capture the full economic value of novel vaccination programs because the cost-effectiveness paradigm fails to take into account the value of active management. Management decisions can be seen as real options, a term used to refer to the application of option pricing theory to the valuation of investments in nonfinancial assets in which much of the value is attributable to flexibility and learning over time. The aim of this article was to discuss the potential advantages shown by using the payoff method in the valuation of the cost-effectiveness of competing HPV immunization programs. This was the first study, to the best of our knowledge, to use the payoff method to determine the real option values of 4 different HPV vaccination strategies targeting female subjects aged 12, 15, 18, and 25 years. The payoff method derives the real option value from the triangular payoff distribution of the project's net present value, which is treated as a triangular fuzzy number. To inform the real option model, cost-effectiveness data were derived from an empirically calibrated Bayesian model designed to assess the cost-effectiveness of a multicohort HPV vaccination strategy in the context of the current cervical cancer screening program in Italy. A net health benefit approach was used to calculate the expected fuzzy net present value for each of the 4 vaccination strategies evaluated. Costs per quality-adjusted life-year gained seemed to be related to the number of cohorts targeted: a single cohort of girls aged 12 years (€10,955 [95% CI, -1,021 to 28,212]) revealed the lowest cost among the 4 alternative strategies evaluated. The real option valuation challenged the cost-effectiveness dominance of a single cohort of 12-year-old girls. The simultaneous vaccination of 2 cohorts of girls aged 12 and 15 years yielded a real option value (€17,723) equivalent to that attributed to a single cohort of 12-year-old girls (€17,460). The payoff method showed distinctive advantages in the valuation of the cost-effectiveness of competing health care interventions, essentially determined by the replacement of the nonfuzzy numbers that are commonly used in cost-effectiveness analysis models, with fuzzy numbers as an input to inform the real option pricing method. The real option approach to value uncertainty makes policy making in health care an evolutionary process and creates a new "space" for decision-making choices. Copyright © 2013 Elsevier HS Journals, Inc. All rights reserved.

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.

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.

Ideal affect in daily life: implications for affective experience, health, and social behavior.

PubMed

Tsai, Jeanne L

2017-10-01

Over the last decade, researchers have increasingly demonstrated that ideal affect-the affective states that people value and ideally want to feel-shapes different aspects of daily life. Here I briefly review Affect Valuation Theory (AVT), which integrates ideal affect into existing models of affect and emotion by identifying the causes and consequences of variation in ideal affect. I then describe recent research that applies AVT to the valuation of negative states as well as more complex states, examines how ideal affect shapes momentary affective experience, suggests that ideal affect has both direct and indirect effects on health, and illustrates that people's ideal affect shapes how they judge and respond to others. Finally, I discuss the implications of cultural and individual differences in ideal affect for clinical, educational, work, and leisure settings. Copyright © 2017 Elsevier Ltd. All rights reserved.

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

Valuation of crop genetic resources in Kaski, Nepal: farmers' willingness to pay for rice landraces conservation.

PubMed

Poudel, Diwakar; Johnsen, Fred H

2009-01-01

Crop genetic resources constitute an important aspect of biodiversity conservation, both because of their direct value to the farmers and due to their indirect global value. This study uses the contingent valuation method to document the economic value of crop genetic resources based on the farmers' willingness to pay for conservation. A total of 107 households in Kaski, Nepal were surveyed in November 2003. Their mean willingness to pay was USD 4.18 for in situ and USD 2.20 for ex situ conservation per annum. Landholding size, household size, education level, socio-economic status, sex of respondent, number of crop landraces grown, and knowledge on biodiversity influenced the willingness to pay for in situ conservation, whereas only landholding size and household size influenced the willingness to pay for ex situ conservation. The respondents were willing to contribute more for in situ than ex situ conservation because of the additional effect of direct use and direct involvement of the farmers in in situ conservation. This study supports the view that economic valuation of crop genetic resources can assist the policy makers in setting conservation priorities.

Evaluator Training: Content and Topic Valuation in University Evaluation Courses

ERIC Educational Resources Information Center

Davies, Randall; MacKay, Kathryn

2014-01-01

Quality training opportunities for evaluators will always be important to the evaluation profession. While studies have documented the number of university programs providing evaluation training, additional information is needed concerning what content is being taught in current evaluation courses. This article summarizes the findings of a survey…

5 CFR 847.103 - Definitions.

Code of Federal Regulations, 2010 CFR

2010-01-01

... value are those used by the Board of Actuaries of the Civil Service Retirement System for valuation of CSRS and FERS, based on dynamic assumptions. Age means the number of years an individual has been alive... Retirement System or the Federal Employees Retirement System as described in chapters 83 and 84 of title 5...

Valuing Tropical Rainforest Protection Using the Contingent Valuation Method

Treesearch

Randall A. Kramer; D. Evan Mercer; Narendra Sharma

1996-01-01

In the last several decades, the intensity and scale of forest exploitation have increased significantly. A large number of developing countries experiencing increasing deforestation trends are also facing acute shortages of fuelwood, fodder, industrial timber, and other forest products for domestic USC. Besides potential environmental degradation, depletion of...

Environmentally Related Diseases and the Possibility of Valuation of Their Social Costs

PubMed Central

Hajok, Ilona; Marchwińska, Ewa; Dziubanek, Grzegorz; Kuraszewska, Bernadeta; Piekut, Agata

2014-01-01

The risks of the morbidity of the asbestos-related lung cancer was estimated in the general population of Poles as the result of increased exposure to asbestos fibers during the removal of asbestos-cement products and the possibility of the valuation of the social costs related to this risk. The prediction of the new incidences was made using linear regression model. The forecast shows that to the end of 2030 about 3,500 new cases of lung cancer can be expected as a result of occupational exposure to asbestos in the past which makes together with paraoccupational exposure about 14.000 new cases. The forecast shows the increasing number of asbestos-related lung cancer in Poland and indicates the priority areas where preventive action should be implemented. PMID:25374934

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...

Epistemic Evaluation of the Training and Managerial Competence Development Process

ERIC Educational Resources Information Center

Machado, Evelio F.; Zambrano, Marcos T.; Montes de Oca, Nancy

2015-01-01

This article presents the problem of defining the concept of "competence", due to it being an integral and complex term that has been applied in many domains as well as in a more general sense for everyday life. However, no doubt, a competence can only be tested and valuated in the practice, and it is a person who becomes competent in a…

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.

77 FR 42554 - Agency Information Collection (Application for Fee or Personnel Designation) Activity Under OMB...

Federal Register 2010, 2011, 2012, 2013, 2014

2012-07-19

... (Application for Fee or Personnel Designation) Activity Under OMB Review AGENCY: Veterans Benefits...: Application for Fee or Personnel Designation, VA Form 26- 6681. OMB Control Number: 2900-0113. Type of Review... the applicant's experience in the real estate valuation field. An agency may not conduct or sponsor...

Application of Multipurpose Cadastre to Evaluate Energy Security of Land Parcel (Case Study: Gedung A and Gedung B, Institut Teknologi Sumatra)

NASA Astrophysics Data System (ADS)

Alif, S. M.; Nugroho, A. P.; Leksono, B. E.

2018-03-01

Energy security has one of its dimensions: Short-term energy security which focuses on the ability of the energy system to react promptly to sudden changes within the supply-demand balance. Non-energy components (such as land parcel) that comprise an energy system are analysed comprehensively with other component to measure energy security related to energy supply. Multipurpose cadastre which is an integrated land information system containing legal, physical, and cultural is used to evaluate energy (electrical energy) security of land parcel. The fundamental component of multipurpose cadastre used to evaluate energy security is attribute data which is the value of land parcel facilities. Other fundamental components (geographic control data, base map data, cadastral data) are used as position information and provide weight in room (part of land parcel) valuation. High value-room means the room is comfortable and/or used productively by its occupant. The method of valuation is by comparing one facility to other facilities. Facilities included in room valuation are relatively static items (such as chair, desk, and cabinet) except lamps and other electronic devices. The room value and number of electronic devices which consume electrical energy are correlated with each other. Consumption of electrical energy of electronic devices in the room with average value remains constant while consumption in other room needs to be evaluated to save the energy. The result of this research shows that room value correlate weakly with number of electronic device in corresponding room. It shows excess energy consumed in low-value room. Although numbers of electronic devices do not always mean the consumption of electrical energy and there are plenty electronic devices, it is recommended for occupant to be careful in utilizing electronic devices in low-value room to minimize energy consumption.

[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.

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.

Weak completions, bornologies and rigid cohomology

NASA Astrophysics Data System (ADS)

Cortiñas, Guillermo; Cuntz, Joachim; Meyer, Ralf; Tamme, Georg

2018-07-01

Let V be a complete discrete valuation ring with residue field k of positive characteristic and with fraction field K of characteristic 0. We clarify the analysis behind the Monsky-Washnitzer completion of a commutative V-algebra using completions of bornological V-algebras. This leads us to a functorial chain complex for a finitely generated commutative algebra over the residue field k that computes its rigid cohomology in the sense of Berthelot.

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.

Evaluation of Split Version and Feedback Module on the Improvement of Time Trade-Off Data.

PubMed

Wong, Eliza L Y; Shah, Koonal; Cheung, Annie W L; Wong, Amy Y K; Visser, Martijn; Stolk, Elly

2018-06-01

EQ-5D-5L valuation studies previously reported many inconsistent responses in time trade-off (TTO) data. A number of possible elements, including ordering effects of the valuation tasks, mistakes at the sorting question, and interviewers' (learning) effects, may contribute to their inconsistency. This study aimed to evaluate the effect of two modifications on consistency of TTO data in The Netherlands (NL) and Hong Kong (HK): (1) separating the valuation of the Better than Dead (BTD) and Worse than Dead (WTD) states; and (2) Implementation of feedback (FB) module by offering an opportunity to review TTO responses. A crossover design with two study arms was used to test the effect of the modifications. In each jurisdiction, six interviewers were involved where half the interviewers started using the standard version, and the other half started with the split version. Each version was switched after every 25 (NL) or 30 (HK) interviews until 400 interviews were completed. In the NL and HK, 404 and 403 respondents participated, respectively. With the use of the FB module, the proportion of respondents with inconsistent responses was lowered from 17.8% to 10.6% (P < 0.001) in NL and from 31.8% to 22.3% (P = 0.003) in HK. The result of separating the valuation of BTD and WTD states was not straightforward because it reduced the inconsistency rate in NL but not in HK. The results support implementation of the FB module to promote the consistency of the data. The separation of the BTD and WTD task is not supported. Copyright © 2018 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

Consumer willingness to pay for pharmacy services: An updated review of the literature.

PubMed

Painter, Jacob T; Gressler, Laura; Kathe, Niranjan; Slabaugh, S Lane; Blumenschein, Karen

2018-02-02

Quantifying the value of pharmacy services is imperative for the profession as it works to establish an expanded role within evolving health care systems. The literature documents the work that many have contributed toward meeting this goal. To date, however, the preponderance of evidence evaluates the value of pharmacist services to third-party payers; few published studies address the value that consumers place on these services. In 1999, a review of studies that used the contingent valuation method to value pharmacy services was published. The objective of this manuscript is to provide an update of that review. Relevant studies published in the English language were identified searching MEDLINE, ECONLIT and International Pharmaceutical Abstracts databases from January 1999 to November 2017. Only studies that specifically elicited willingness to pay for a community pharmacist provided service from actual or potential consumers were included. Thirty-one studies using the contingent valuation method to value pharmacy services were identified using the search strategy outlined. These studies included surveys in different demographic and geographic populations and valuing various pharmacy services. Improving the quality of studies using contingent valuation to value pharmacy services will aid the profession in marketing pharmacy services to consumers, and may assist practitioners who wish to implement various pharmacy services in their practice settings. A limited number of studies have been conducted, but the quality of contingent valuation studies valuing pharmacist services is improving. Understanding the pharmacy services that consumers value, and understanding the level of their monetary willingness to pay for those services will be crucial as the profession continues to work toward establishing a sustainable and economically viable role within the evolving health care systems. Copyright © 2018. Published by Elsevier Inc.

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.

The application of the Contingent Valuation method towards the assessment of the impacts emerged from the March 2006 floods in the Evros River. An experts-based survey.

NASA Astrophysics Data System (ADS)

Markantonis, V.; Bithas, K.

2009-04-01

In March 2006 Greece was struck by a severe flooding, which caused significant damages in the Prefecture of Evros, on the Eastern border of Greece. 250 million m² of farmland was flooded causing severe damages to agriculture, transport and water supply networks. Total direct damages are estimated at € 372 million. The negative effect on economic activity caused by the floods, considered the worst over the last 50 years, took place in an area that had already been severely affected by floods in 2005. Apart from the direct damages critical were also the indirect impacts on the environmental and the social level. The need for economic analysis concerning the design and implementation of efficient flood management policies is well emphasized in the natural hazards' policies. Within this framework, the present paper is analyzing the application of stated preferences valuation techniques for the assessment of the damages caused in the Prefecture of Evros by the severe floods of March 2006. The objective of this paper is to define the role of economic valuation techniques in assisting the design of efficient and sustainable policies for flood management. More specific, the Contingent Valuation (CV) method is applied in order to valuate the impacts of the March 2006 floods, including the environmental impacts as far as concerns the soil, the biodiversity and the aesthetic environment of the flooded areas. The paper begins with a discussion of the theoretical economic framework, and particularly, the contingent valuation method framework that can be used to evaluate flood impacts. Understanding public preferences for complex environmental policy changes, such as flood impacts, is a preeminent challenge for environmental economists and other social scientists. Information issues are central to the design and application of the survey-based contingent valuation (CV) method for valuing environmental goods. While content is under the control of the analyst, how this information is accessed and used is ultimately up to the respondent. In addition, the future trends of floods in the Evros River Basin are presented, linking the socio-economic framework with the physical conditions of climate change. The forecast of the future precipitation trends in the Evros River has been realized at the Bjerkness Climate Change Center, Norway (May - July 2006). The objective of this forecast is to identify the future extreme precipitation trends in the Evros River Basin applying the global change models and identifying the differences between the present climate and the IPCC scenarios for the future climate. The scenario used for the present climate was the ‘20C3M' and the scenarios used for the future climate was the ‘SRES A2' and the ‘SRES A1B as well. The climate change models used were the following: BCM, ECHAM5_MPI, GFDL and CNRM_CM3. The analysis was based on changes concerning extreme precipitation in periods of three and seven days, which can theoritically lead to flooding events. Eventually, an application of the contingent valuation method is presented using the case study of March 2006 floods in the Evros River. In this context, the valuation scenario, the structure of the questionnaire, the elaboration of the survey and the results of the application are thoroughly illustrated. The good, or policy, being valued is the flooding impacts, focusing more at environmental aspects (soil, biodiversity, aesthetic environment). The survey includes a sample of 53 local experts in floods from various sectors such as local authorities, local public services, agricultural associations, environmental NGO's and universities. The survey is based on peer to peer interviews, which theoretically provide the most coherent results. The valuation question explores the Willingness to Pay (WTP) to Avoid future impacts of flooding formatted as an annual household fee and alternatively as a percentage of the Prefecture's GDP. In both cases the respondents are also asked which percentage of their initially stated value should specifically given for the elimination of the impacts on the soil, the biodiversity and the aesthetic environment. Moreover, the payment vehicle is the payment card method with four pre-defined sets of values. The basic survey template includes three major sections. The first part contains attitudinal, and knowledge questions. The second part, or valuation section, contains the contingent valuation scenario, the actual valuation questions and the follow-up questions. The final section contains the demographic questions. Results indicate well informed local experts who are willing to pay respectable amounts in order to avoid flooding impacts and give a strong gravity on the environmental impacts of the floods. Also, respondents are criticizing the weaknesses of the current flood management status and provide alternative policies, which can potentially affect the policy-making.

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...

The Economic Value of Mangroves: A Meta-Analysis

Treesearch

Marwa Salem; D. Evan Mercer

2012-01-01

This paper presents a synthesis of the mangrove ecosystem valuation literature through a meta-regression analysis. The main contribution of this study is that it is the first meta-analysis focusing solely on mangrove forests, whereas previous studies have included different types of wetlands. The number of studies included in the regression analysis is 44 for a total...

Evaluating Your School's Worth. NHSC Occasional Paper Number 7.

ERIC Educational Resources Information Center

Lambert, Michael P.

Although home study institutions rarely change hands, periodic internal valuations of the financial worth of home study schools can be instructive for school owners. The first step is to determine the school's position in the context of the education field. This can be accomplished by asking 10 questions that a potential buyer of the school might…

Military Retirement: Alternate Final Pay and Cost of Living Indexing

DTIC Science & Technology

2014-06-01

LIST OF TABLES Table 1.  Military Retirement System Multipliers (from DOD Office of the Actuary , 2012...10  Table 2.  Number of Retirees by Rank (from DOD Office of the Actuary , 2012...Expectancy (from DOD Office of the Actuary , 2012) ..23  Table 5.  HI-3 Valuation in Millions of Dollars

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.

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.

Did people "buy" what was "sold"? A qualitative evaluation of a contingent valuation survey information set for gains in life expectancy.

PubMed

Baker, R; Bartczak, A; Chilton, S; Metcalf, H

2014-01-15

A number of stated preferences studies have estimated a monetary value for the gains in life expectancy resulting from pollution control, using a Value of a Life Year (VOLY) approach. However, life expectancy gains are a complex concept and no attempt has been made, to date, to investigate peoples' understanding of what it is they are being asked to value. Past practice has been to focus on the outcome of a policy i.e. a gain to the average person of X months', providing no details on how the individual receives, or experiences this gain, a potentially important attribute to value. This paper sets up and reports the results from a structured debriefing exercise to qualitatively investigate an alternative approach which explicitly emphasises how this gain is delivered (on-going reductions in the risk of death). We find that, for the majority of respondents, the approach is effective in communicating the on-going nature of the gain and reduces or eliminates the use of the (incorrect) heuristic that it is an 'add-on' at the end of life, in poor health. Further refinements are required, however, to communicate the cumulative nature of these risk reductions and the lack of impact on quality of life. The lesson for stated preference studies in general is that structured debriefings can be very useful, highlighting such issues as the persistence of ill-defined attributes and the difficulties that respondents may encounter setting aside their preferences over attributes of the good that should not be included in the valuation. Copyright © 2013 Elsevier Ltd. All rights reserved.

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

National valuation of monarch butterflies indicates an untapped potential for incentive-based conservation

USGS Publications Warehouse

Diffendorfer, Jay E.; Loomis, John B.; Ries, Leslie; Oberhauser, Karen; Semmens, Darius; Semmens, Brice; Butterfield, Bruce; Bagstad, Ken; Goldstein, Josh; Wiederholt, Ruscena; Mattsson, Brady; Thogmartin, Wayne E.

2013-01-01

The annual migration of monarch butterflies (Danaus plexippus) has high cultural value and recent surveys indicate monarch populations are declining. Protecting migratory species is complex because they cross international borders and depend on multiple regions. Understanding how much, and where, humans place value on migratory species can facilitate market-based conservation approaches. We performed a contingent valuation study of monarchs to understand the potential for such approaches to fund monarch conservation. The survey asked U.S. respondents about the money they would spend, or have spent, growing monarch-friendly plants, and the amount they would donate to monarch conservation organizations. Combining planting payments and donations, the survey indicated U.S. households valued monarchs as a total one-time payment of $4.78–$6.64 billion, levels similar to many endangered vertebrate species. The financial contribution of even a small percentage of households through purchases or donations could generate new funding for monarch conservation through market-based approaches.

A simple low-computation-intensity model for approximating the distribution function of a sum of non-identical lognormals for financial applications

NASA Astrophysics Data System (ADS)

Messica, A.

2016-10-01

The probability distribution function of a weighted sum of non-identical lognormal random variables is required in various fields of science and engineering and specifically in finance for portfolio management as well as exotic options valuation. Unfortunately, it has no known closed form and therefore has to be approximated. Most of the approximations presented to date are complex as well as complicated for implementation. This paper presents a simple, and easy to implement, approximation method via modified moments matching and a polynomial asymptotic series expansion correction for a central limit theorem of a finite sum. The method results in an intuitively-appealing and computation-efficient approximation for a finite sum of lognormals of at least ten summands and naturally improves as the number of summands increases. The accuracy of the method is tested against the results of Monte Carlo simulationsand also compared against the standard central limit theorem andthe commonly practiced Markowitz' portfolio equations.

Enlisting Ecosystem Benefits: Quantification and Valuation of Ecosystem Services to Inform Installation Management

DTIC Science & Technology

2015-05-27

human development and conservation of terrestrial, freshwater, and marine ecosystems. The InVEST toolset currently includes 17 distinct InVEST... Plateau to the north and the Coastal Plain to the south, which represent distinct features of topography, geology and soils, and vegetation communities...threatened by a complex of tree diseases and pine beetles that cause declines or mortality in loblolly pine, a dominant tree across the base. When loblolly

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...

29 CFR 4281.16 - Benefit valuation methods-plans closing out.

Code of Federal Regulations, 2010 CFR

2010-07-01

..., as determined under this subpart. (b) Valuation rule. The present value of nonforfeitable benefits... 4281(b) of ERISA, the plan sponsor shall value the plan's benefits in accordance with paragraph (b) of... 29 Labor 9 2010-07-01 2010-07-01 false Benefit valuation methods-plans closing out. 4281.16...

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…

78 FR 45003 - Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing of Proposed Rule Change To List...

Federal Register 2010, 2011, 2012, 2013, 2014

2013-07-25

... securities. Corporate debt securities are fixed-income securities issued by businesses to finance their... fundamental factors such as sales, earnings and cash flow growth; valuation factors such as price/earnings... fundamentals, valuation and technical factors, the security's relative valuation and other qualitative factors...

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...

Multi-unit auctions with budget-constrained bidders

NASA Astrophysics Data System (ADS)

Ghosh, Gagan Pratap

In my dissertation, I investigate the effects of budget-constraints in multi-unit auctions. This is done in three parts. First, I analyze a case where all bidders have a common budget constraint. Precisely, I analyze an auction where two units of an object are sold at two simultaneous, sealed bid, first-price auctions, to bidders who have demand for both units. Bidders differ with respect to their valuations for the units. All bidders have an identical budget constraint which binds their ability to spend in the auction. I show that if valuation distribution is atom-less, then their does not exist any symmetric equilibrium in this auction game. In the second and third parts of my thesis, I analyze the sale of licenses for the right to drill for oil and natural gas in the Outer Continental Shelf (OCS) of the United States. These sales are conducted using simultaneous sealed-bid first-price auctions for multiple licenses, each representing a specific area (called a tract). Using aspects of observed bidding-behavior, I first make a prima facie case that bidders are budget-constrained in these auctions. In order to formalize this argument, I develop a simple extension of the standard model (where bidders differ in their valuations for the objects) by incorporating (random) budgets for the bidders. The auction-game then has a two-dimensional set of types for each player. I study the theoretical properties of this auction, assuming for simplicity that two units are being sold. I show that this game has an equilibrium in pure strategies that is symmetric with respect to the players and with respect to the units. The strategies are essentially pure in the sense that each bidder-type has a unique split (up to a permutation) of his budget between the two auctions. I then characterize the equilibrium in terms of the bid-distribution and iso-bid curves in the value-budget space. I derive various qualitative features of this equilibrium, among which are: (1) under mild assumptions, there always exist bidder-types who submit unequal bids in equilibrium, (2) the equilibrium is monotonic in the sense that bidders with higher valuations prefer more unequal splits of their budgets than bidders with lower valuations and the same budget-level. With a formal theory in place, I carry out a quantitative exercise, using data from the 1970 OCS auction. I show that the model is able to match many aspects of the data. (1) In the data, the number of tracts bidders submit bids on is positively correlated with budgets (an R2 of 0.84), even though this relationship is non-monotonic; my model is able to capture this non-monotonicity, while producing an R2 of 0.89 (2) In the data, the average number of bids per tract is 8.21; for the model, this number is 10.09. (3) Auction revenue in the data was 1.927 billion; the model produced a mean revenue of 1.944 billion.

Natural mineral water of the United States: Section in Fourteenth Annual Report of the United States Geological Survey to the Secretary of the Interior, 1892-1893: Part 2 - Accompanying papers

USGS Publications Warehouse

Peale, A.C.

1894-01-01

Aside from the geological interest attached to the subject of mineral waters the facts that within the limits of the United States there are between 8,000 and 10,000 mineral springs, and that the waters from nearly 300 are annually placed upon the market to the extent of over 21,000,000 gallons, at a valuation of nearly \\$5,000,000, show plainly that the subject is also one of considerable economic importance. That this importance is an increasing one is evident when a comparison of these figures is made with the figures for 1883, the first year they were compiled. The production then was 7,529,423 gallons, with a valuation of \\$1,119,603, and the total number of springs known to be utilized for commercial purposes was only 189.

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

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.

Valuation effects of health cost containment measures.

PubMed

Strange, M L; Ezzell, J R

2000-01-01

This study reports the findings of research into the valuation effects of health cost containment activities by publicly traded corporations. The motivation for this study was employers' increasing cost of providing health care insurance to their employees and employers' efforts to contain those costs. A 1990 survey of corporate health benefits indicated that these costs represented 25 percent of employers' net earnings and this would rise by the year 2000 if no actions were taken to reduce cost. Health cost containment programs that are implemented by firms should be seen by shareholders as a wealth maximizing effort. As such, this should be reflected in share price. This study employed standard event study methodology where the event is a media announcement or report regarding an attempt by a firm to contain the costs of providing health insurance and other health related benefits to employees. It examined abnormal returns on a number of event days and for a number of event intervals. Of the daily and interval returns that are least significant at the 10 percent level, virtually all are negative. Cross-sectional analysis shows that the abnormal returns are related negatively to a unionization variable.

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...

Ecologization of water-land property matters on the territory of the Tom lower course

NASA Astrophysics Data System (ADS)

Popov, V. K.; Kozina, M. V.; Levak, Yu Yu; Shvagrukova, E. V.

2016-03-01

In the present paper the water-land property complex is considered as a strategic resource of the city development. The formulated question is expounded through the example of water-land property complex usage on the territory of the Tom lower course for land-use planning and developing the systems of water recourses management and land tenure. Consequences of liquid radioactive waste (LRW) landfilling are investigated in terms of arable farming. Also, forming a water budget of the soils spread on the area of the Tomsk underground water supply cone of depression and its role in the development of agricultural industry are studied. The main aspect of the analysis is the incorporation of social, economic, and ecological requirements for the system of life-supporting branches of municipal economy and social services. As far as the system of land tax payments plays an important role in land property complex management, the common issues and tendencies are specified in the paper. These problems are concerned with the inadequate incorporation of an ecological constituent in the methods of cadastral valuation of lands, as well as the situation of the narrow area of its results usage in the Russian Federation. Natural factors (hydrological, territorial, geological (geomorphologic) territory conditions) are combined by the authors into a special group. These factors should be reflected in the results of cadastral valuation. Also, in order to protect the interests of water consumers, it is offered to establish the Water Consumers Association based on the international experience of such countries as Spain and Uzbekistan.

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.

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.

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.

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.

Systems resilience for multihazard environments: definition, metrics, and valuation for decision making.

PubMed

Ayyub, Bilal M

2014-02-01

The United Nations Office for Disaster Risk Reduction reported that the 2011 natural disasters, including the earthquake and tsunami that struck Japan, resulted in $366 billion in direct damages and 29,782 fatalities worldwide. Storms and floods accounted for up to 70% of the 302 natural disasters worldwide in 2011, with earthquakes producing the greatest number of fatalities. Average annual losses in the United States amount to about $55 billion. Enhancing community and system resilience could lead to massive savings through risk reduction and expeditious recovery. The rational management of such reduction and recovery is facilitated by an appropriate definition of resilience and associated metrics. In this article, a resilience definition is provided that meets a set of requirements with clear relationships to the metrics of the relevant abstract notions of reliability and risk. Those metrics also meet logically consistent requirements drawn from measure theory, and provide a sound basis for the development of effective decision-making tools for multihazard environments. Improving the resiliency of a system to meet target levels requires the examination of system enhancement alternatives in economic terms, within a decision-making framework. Relevant decision analysis methods would typically require the examination of resilience based on its valuation by society at large. The article provides methods for valuation and benefit-cost analysis based on concepts from risk analysis and management. © 2013 Society for Risk Analysis.

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...

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 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.

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

Irrational decision-making in an amoeboid organism: transitivity and context-dependent preferences.

PubMed

Latty, Tanya; Beekman, Madeleine

2011-01-22

Most models of animal foraging and consumer choice assume that individuals make choices based on the absolute value of items and are therefore 'economically rational'. However, frequent violations of rationality by animals, including humans, suggest that animals use comparative valuation rules. Are comparative valuation strategies a consequence of the way brains process information, or are they an intrinsic feature of biological decision-making? Here, we examine the principles of rationality in an organism with radically different information-processing mechanisms: the brainless, unicellular, slime mould Physarum polycephalum. We offered P. polycephalum amoebas a choice between food options that varied in food quality and light exposure (P. polycephalum is photophobic). The use of an absolute valuation rule will lead to two properties: transitivity and independence of irrelevant alternatives (IIA). Transitivity is satisfied if preferences have a consistent, linear ordering, while IIA states that a decision maker's preference for an item should not change if the choice set is expanded. A violation of either of these principles suggests the use of comparative rather than absolute valuation rules. Physarum polycephalum satisfied transitivity by having linear preference rankings. However, P. polycephalum's preference for a focal alternative increased when a third, inferior quality option was added to the choice set, thus violating IIA and suggesting the use of a comparative valuation process. The discovery of comparative valuation rules in a unicellular organism suggests that comparative valuation rules are ubiquitous, if not universal, among biological decision makers.

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...

26 CFR 20.6324B-1 - Special lien for additional estate tax attributable to farm, etc., valuation.

Code of Federal Regulations, 2010 CFR

2010-04-01

... attributable to farm, etc., valuation. 20.6324B-1 Section 20.6324B-1 Internal Revenue INTERNAL REVENUE SERVICE... attributable to farm, etc., valuation. (a) General rule. In the case of an estate of a decedent dying after December 31, 1976, which includes any interest in qualified real property, if the executor elects to value...

Valuations of Compensation and Benefit Items by New Entrants into the Professional Workforce: Do Men and Women Differ?

ERIC Educational Resources Information Center

Tocher, Neil; Feild, Hubert S.; Giles, William F.

2006-01-01

Women make up nearly half of the workforce in America, and they continue to enter fields such as business and engineering in record numbers. Additionally, more women with children under 3 years of age are remaining in the workforce. Considering these changes, examining whether the compensation and benefit preferences of male and female entrants…

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.

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

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.

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

Code of Federal Regulations, 2010 CFR

2010-04-01

... 26 Internal Revenue 14 2010-04-01 2010-04-01 false Special valuation rules in the case of transfers of interests in trust. 25.2702-1 Section 25.2702-1 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 § 25.2702-1 Special...

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...

Fractionating choice: A study on reward discrimination, preference and relative valuation in the rat (Rattus norvegicus)

PubMed Central

Ricker, Joshua M.; Hatch, Justin D.; Powers, Daniel D.; Cromwell, Howard C.

2016-01-01

Choice behavior combines discrimination between distinctive outcomes, preference for specific outcomes and relative valuation of comparable outcomes. Previous work has focused on one component (i.e., preference) disregarding other influential processes that might provide a more complete understanding. Animal models of choice have been explored primarily utilizing extensive training, limited freedom for multiple decisions and sparse behavioral measures constrained to a single phase of motivated action. The present study used a paradigm that combines different elements of previous methods with the goal to distinguish among components of choice and explore how well components match predictions based on risk-sensitive foraging strategies. In order to analyze discrimination and relative valuation, it was necessary to have an option that shifted and an option that remained constant. Shifting outcomes among weeks included a change in single-option outcome (0 to 1 to 2 pellets) or a change in mixed-option outcome (0 or 5 to 0 or 3 to 0 or 1 pellets). Constant outcomes among weeks were also mixedoption (0 or 3 pellets) or single-option (1 pellet). Shifting single-option outcomes among weeks led to better discrimination, more robust preference and significant incentive contrast effects for the alternative outcome. Shifting multi-options altered choice components and led to dissociations among discrimination, preference, and reduced contrast effects. During extinction, all components were impacted with the greatest deficits during the shifting mixed-option outcome sessions. Results suggest choice behavior can be optimized for one component but suboptimal for others depending upon the complexity of alterations in outcome value between options. PMID:27078079

A Unified Framework for Simulating Markovian Models of Highly Dependable Systems

DTIC Science & Technology

1989-07-01

ependability I’valuiation of Complex lault- lolerant Computing Systems. Ptreedings of the 1-.et-enth Sv~npmiun on Falult- lolerant Comnputing. Portland, Maine...New York. [12] (icis;t, R.M. and ’I’rivedi, K.S. (1983). I!Itra-Il gh Reliability Prediction for Fault-’ lolerant Computer Systems. IEE.-E Trw.%,.cions... 1998 ). Surv’ey of Software Tools for [valuating Reli- ability. A vailability, and Serviceabilitv. ACA1 Computing S urveyjs 20. 4, 227-269). [32] Meyer

Genre scripts and appreciation of negative emotion in the reception of film.

PubMed

Tan, Ed S; Visch, Valentijn T

2017-01-01

The Distancing-Embracing model reserves a role for genre scripts in the hedonic valuation of negative emotion in art. Genre scripts, as defined in the target article, leave higher-level recipient intuitions out of scope. We argue that, in film genre scripts, lower-level stylistic features lend access to more complex conceptual knowledge, including pragmatic principles. The argument implies a consideration of the communicative dimension of aesthetic works, which could strengthen both factors of the Distancing-Embracing model.

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

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

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.

Economic Value of Instream Flow for Non-Commercial Whitewater Boating Using Recreation Demand and Contingent Valuation Methods

NASA Astrophysics Data System (ADS)

Loomis, John; McTernan, James

2014-03-01

Whitewater river kayaking and river rafting require adequate instream flows that are often adversely affected by upstream water diversions. However, there are very few studies in the USA of the economic value of instream flow to inform environmental managers. This study estimates the economic value of instream flow to non-commercial kayakers derived using a Travel Cost Method recreation demand model and Contingent Valuation Method (CVM), a type of Contingent Behavior Method (CBM). Data were obtained from a visitor survey administered along the Poudre River in Colorado. In the dichotomous choice CVM willingness to pay (WTP) question, visitors were asked if they would still visit the river if the cost of their trip was Y higher, and the level of Y was varied across the sample. The CVM yielded an estimate of WTP that was sensitive to flows ranging from 55 per person per day at 300 Cubic Feet per Second (CFS) to a maximum 97 per person per day at flows of 1900 CFS. The recreation demand model estimated a boater's number of trips per season. We found the number of trips taken was also sensitive to flow, ranging from as little as 1.63 trips at 300 CFS to a maximum number of 14 trips over the season at 1900 CFS. Thus, there is consistency between peak benefits per trip and number of trips, respectively. With an average of about 100 non-commercial boaters per day, the maximum marginal values per acre foot averages about 220. This value exceeds irrigation water values in this area of Colorado.

Social equality in the number of choice options is represented in the ventromedial prefrontal cortex.

PubMed

Aoki, Ryuta; Matsumoto, Madoka; Yomogida, Yukihito; Izuma, Keise; Murayama, Kou; Sugiura, Ayaka; Camerer, Colin F; Adolphs, Ralph; Matsumoto, Kenji

2014-04-30

A distinct aspect of the sense of fairness in humans is that we care not only about equality in material rewards but also about equality in nonmaterial values. One such value is the opportunity to choose freely among many options, often regarded as a fundamental right to economic freedom. In modern developed societies, equal opportunities in work, living, and lifestyle are enforced by antidiscrimination laws. Despite the widespread endorsement of equal opportunity, no studies have explored how people assign value to it. We used functional magnetic resonance imaging to identify the neural substrates for subjective valuation of equality in choice opportunity. Participants performed a two-person choice task in which the number of choices available was varied across trials independently of choice outcomes. By using this procedure, we manipulated the degree of equality in choice opportunity between players and dissociated it from the value of reward outcomes and their equality. We found that activation in the ventromedial prefrontal cortex (vmPFC) tracked the degree to which the number of options between the two players was equal. In contrast, activation in the ventral striatum tracked the number of options available to participants themselves but not the equality between players. Our results demonstrate that the vmPFC, a key brain region previously implicated in the processing of social values, is also involved in valuation of equality in choice opportunity between individuals. These findings may provide valuable insight into the human ability to value equal opportunity, a characteristic long emphasized in politics, economics, and philosophy.

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.

Demand for health care in Denmark: results of a national sample survey using contingent valuation.

PubMed

Gyldmark, M; Morrison, G C

2001-10-01

In this paper we use willingness to pay (WTP) to elicit values for private insurance covering treatment for four different health problems. By way of obtaining these values, we test the viability of the contingent valuation method (CVM) and econometric techniques, respectively, as means of eliciting and analysing values from the general public. WTP responses from a Danish national sample survey, which was designed in accordance with existing guidelines, are analysed in terms of consistency and validity checks. Large numbers of zero responses are common in WTP studies, and are found here; therefore, the Heckman selectivity model and log-transformed OLS are employed. The selectivity model is rejected, but test results indicate that the lognormal model yields efficient and unbiased estimates. The results give confidence in the WTP estimates obtained and, more generally, in CVM as a means of valuing publicly provided goods and in econometrics as a tool for analysing WTP results containing many zero responses.

Whale shark economics: a valuation of wildlife tourism in South Ari Atoll, Maldives.

PubMed

Cagua, Edgar Fernando; Collins, Neal; Hancock, James; Rees, Richard

2014-01-01

Whale sharks attract large numbers of tourists, divers and snorkelers each year to South Ari Atoll in the Republic of Maldives. Yet without information regarding the use and economic extent of the attraction, it is difficult to prioritize conservation or implement effective management plans. We used empirical recreational data and generalized mixed statistical models to conduct the first economic valuation (with direct spend as the primary proxy) of whale shark tourism in Maldives. We estimated that direct expenditures for whale shark focused tourism in the South Ari Marine Protected Area for 2012 and 2013 accounted for US$7.6 and $9.4 million respectively. These expenditures are based on an estimate of 72,000-78,000 tourists who are involved in whale shark excursions annually. That substantial amount of income to resort owners and operators, and tourism businesses in a relatively small area highlights the need to implement regulations and management that safeguard the sustainability of the industry through ensuring guest satisfaction and whale shark conservation.

Whale shark economics: a valuation of wildlife tourism in South Ari Atoll, Maldives

PubMed Central

Collins, Neal; Hancock, James; Rees, Richard

2014-01-01

Whale sharks attract large numbers of tourists, divers and snorkelers each year to South Ari Atoll in the Republic of Maldives. Yet without information regarding the use and economic extent of the attraction, it is difficult to prioritize conservation or implement effective management plans. We used empirical recreational data and generalized mixed statistical models to conduct the first economic valuation (with direct spend as the primary proxy) of whale shark tourism in Maldives. We estimated that direct expenditures for whale shark focused tourism in the South Ari Marine Protected Area for 2012 and 2013 accounted for US$7.6 and $9.4 million respectively. These expenditures are based on an estimate of 72,000–78,000 tourists who are involved in whale shark excursions annually. That substantial amount of income to resort owners and operators, and tourism businesses in a relatively small area highlights the need to implement regulations and management that safeguard the sustainability of the industry through ensuring guest satisfaction and whale shark conservation. PMID:25165629

The computational form of craving is a selective multiplication of economic value

PubMed Central

Glimcher, Paul W.

2018-01-01

Craving is thought to be a specific desire state that biases choice toward the desired object, be it chocolate or drugs. A vast majority of people report having experienced craving of some kind. In its pathological form craving contributes to health outcomes in addiction and obesity. Yet despite its ubiquity and clinical relevance we still lack a basic neurocomputational understanding of craving. Here, using an instantaneous measure of subjective valuation and selective cue exposure, we identify a behavioral signature of a food craving-like state and advance a computational framework for understanding how this state might transform valuation to bias choice. We find desire induced by exposure to a specific high-calorie, high-fat/sugar snack good is expressed in subjects’ momentary willingness to pay for this good. This effect is selective but not exclusive to the exposed good; rather, we find it generalizes to nonexposed goods in proportion to their subjective attribute similarity to the exposed ones. A second manipulation of reward size (number of snack units available for purchase) further suggested that a multiplicative gain mechanism supports the transformation of valuation during laboratory craving. These findings help explain how real-world food craving can result in behaviors inconsistent with preferences expressed in the absence of craving and open a path for the computational modeling of craving-like phenomena using a simple and repeatable experimental tool for assessing subjective states in economic terms. PMID:29610355

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).

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.

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

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.

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.

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.

77 FR 50390 - Equal Credit Opportunity Act (Regulation B)

Federal Register 2010, 2011, 2012, 2013, 2014

2012-08-21

... management companies, automated valuation models, and providing copies of appraisals and valuations.\\8\\ Many... the Bureau is considering proposing rules on reasonable information management, early intervention for...

"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).

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

Valuation of Capabilities and System Architectural Options to Meet Affordability Requirement

DTIC Science & Technology

2014-03-18

Prepared for the Naval Postgraduate School, Monterey, CA 93943. Report Documentation Page Form ApprovedOMB No. 0704-0188 Public reporting burden for the...for Information Operations and Reports , 1215 Jefferson Davis Highway, Suite 1204, Arlington VA 22202-4302. Respondents should be aware that...display a currently valid OMB control number. 1. REPORT DATE 18 MAR 2014 2. REPORT TYPE 3. DATES COVERED 00-00-2014 to 00-00-2014 4. TITLE AND

Economic and Environmental Considerations for Incremental Cost Analysis in Mitigation Planning

DTIC Science & Technology

1991-03-01

and the following efficiency concepts any number of economics texts will do. See for example, P.R.G. Layard and A.A. Walters, Microeconomic Theory...contained in most advanced microeconomic theory texts. See for example, Henderson and Quant’s Microeconomic Theory, 3rd ed., McGraw-Hill Book Company, 1980...1986). Economic Valuation Techniques for the Environment. A Cast Study Workbook . Johns Hopkins University Press. Baltimore. 148p. The case studies

Imagining value, imagining users: academic technology transfer for health innovation.

PubMed

Miller, Fiona Alice; Sanders, Carrie B; Lehoux, Pascale

2009-04-01

Governments have invested heavily in the clinical and economic promise of health innovation and express increasing concern with the efficacy and efficiency of the health innovation system. In considering strategies for 'better' health innovation, policy makers and researchers have taken a particular interest in the work of universities and related public research organizations: How do these organizations identify and transfer promising innovations to market, and do these efforts make best use of public sector investments? We conducted an ethnographic study of technology transfer offices (TTOs) in Ontario and British Columbia, Canada, to consider the place of health and health system imperatives in judgments of value in early-stage health innovation. Our analysis suggests that the valuation process is poorly specified as a set of task-specific judgments. Instead, we argue that technology transfer professionals are active participants in the construction of the innovation and assign value by 'imagining' the end product in its 'context of use'. Oriented as they are to the commercialization of health technology, TTOs understand users primarily as market players. The immediate users of TTOs' efforts are commercial partners (i.e., licensees, investors) who are capable of translating current discoveries into future commodities. The ultimate end users - patients, clinicians, health systems - are the future consumers of the products to be sold. Attention to these proximate and more distal users in the valuation process is a complex and constitutive feature of the work of health technology transfer. At the same time, judgements about individual technologies are made in relation to a broader imperative through which TTOs seek to imagine and construct sustainable innovation systems. Judgments of value are rendered sensible in relation to the logic of valuation for systems of innovation that, in turn, configure users of health innovation in systemic ways.

A high-resolution, empirical approach to climate impact assessment for regulatory analysis

NASA Astrophysics Data System (ADS)

Delgado, M.; Simcock, J. G.; Greenstone, M.; Hsiang, S. M.; Kopp, R. E.; Carleton, T.; Hultgren, A.; Jina, A.; Rising, J. A.; Nath, I.; Yuan, J.; Rode, A.; Chong, T.; Dobbels, G.; Hussain, A.; Wang, J.; Song, Y.; Mohan, S.; Larsen, K.; Houser, T.

2017-12-01

Recent breakthroughs in computing, data availability, and methodology have precipitated significant advances in the understanding of the relationship between climate and socioeconomic outcomes [1]. And while the use of estimates of the global marginal costs of greenhouse gas emissions (e.g. the SCC) are a mandatory component of regulatory policy in many jurisdictions, existing SCC-IAMs have lagged advances in impact assessment and valuation [2]. Recent work shows that incorporating high spatial and temporal resolution can significantly affect the observed relationships of economic outcomes to climate and socioeconomic factors [3] and that maintaining this granularity is critical to understanding the sensitivity of aggregate measures of valuation to inequality and risk adjustment methodologies [4]. We propose a novel framework that decomposes uncertainty in the SCC along multiple sources, including aggregate climate response parameters, the translation of global climate into local weather, the effect of weather on physical and economic systems, human and macro-economic responses, and impact valuation methodologies. This work extends Hsiang et al. (2017) [4] to directly estimate local response functions for multiple sectors in each of 24,378 global regions and to estimate impacts at this resolution daily, incorporating endogenous, empirically-estimated adaptation and costs. The goal of this work is to provide insight into the heterogeneity of climate impacts and to work with other modeling teams to enhance the empirical grounding of integrated climate impact assessment in more complex energy-environment-economics models. [1] T. Carleton and S. Hsiang (2016), DOI: 10.1126/science.aad9837. [2] National Academies of Sciences, Engineering, and Medicine (2017), DOI: 10.17226/24651. [3] Burke, M., S. Hsiang, and E. Miguel (2015), DOI: 10.1038/nature15725. [4] S. Hsiang et al. (2017), DOI: 10.1126/science.aal4369.

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...

“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

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

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.

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

Patient preference to use a questionnaire varies according to attributes.

PubMed

Kim, Na Yae; Richardson, Lyndsay; He, Weilin; Jones, Glenn

2011-08-01

Health care professionals may assume questionnaires are burdensome to patients, and this limits their use in clinical settings and promotes simplification. However, patient adherence may improve by optimizing questionnaire attributes and contexts. This cross-sectional survey used Contingent Valuation methods to directly elicit patient preference for conventional monitoring of symptoms, versus adding a tool to monitoring. Under explicit consideration was the 10-question Edmonton Symptom Assessment System (ESAS). In the questionnaire, attributes of ESAS were sequentially altered to try and force preference reversal. A separate group of participants completed both questionnaire and interviews to explore questionnaire reliability, and extend validity. Overall, 24 of 43 participants preferred using ESAS. Most important attributes to preference were frequency, specificity, and complexity. Where preference is initially against ESAS, it may reverse by simplifying the tool and its administrative processes. Interviews in 10 additional participants supported reproducibility and validity of the questionnaire method. Preference for using tools increases when tools are made relevant and used more appropriately. Questionnaires completed by patients as screening tools or aids to communication may be under-utilized. Optimization of ESAS and similar tools may be guided by empirical findings, including those obtained from Contingent Valuation methodologies. Copyright © 2010 Elsevier Ireland Ltd. All rights reserved.

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.

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.

Health care contingent valuation studies: a review and classification of the literature.

PubMed

Diener, A; O'Brien, B; Gafni, A

1998-06-01

The contingent valuation method (CVM) is a survey-based approach for eliciting consumer's monetary valuations for programme benefits for use in cost-benefit analysis (CBA). We used the conceptual framework of O'Brien and Gafni (1996) to classify and critically appraise health care CVM studies. Search of computerized health care and economic citation databases (e.g. MEDLINE, ECONLIT) and manual search for papers published between 1984 1996 reporting primary data valuing health programme benefits in monetary units by CVM using willingness-to-pay (WTP) or accept (WTA). We classified studies using both empirical (i.e. who was surveyed and how) and conceptual criteria (i.e. which measure of consumer utility was measured and why). 48 CVM studies were retrieved; the majority (42) undertook money valuation in the context of cost benefit analysis (CBA), with the remainder being pricing/demand studies. Among the 42 CBA studies, the consumer utility being measured (i.e. compensating (CV) vs. equivalent variation (EV) was explicitly stated in only three (7%) studies). WTP was measured in 95% of studies and WTA in 5%. By cross-tabulation, 42 (91%) studies were designed as WTP/CV, two (4%) were WTP/EV, two (4%) were WTA/CV and no studies used WTA/EV. Most studies were administered by mail (52%) with 38% being in-person interviews. Value elicitation techniques included open-ended questions (38%), payment cards (19%) discrete choice questions (26%) or bidding games (29%). Some form of construct validation tests, particularly associations between WTP and income, were done in 21 studies (50%). (i) The number of health care CVM studies is growing rapidly and the majority are done in the context of CBA; (ii) there is wide variation among health care CVM studies in terms of the types of questions being posed and the elicitation formats being used; (iii) classification and appraisal of the literature is difficult because reporting of methods and their relationship with the conceptual framework of CBA is poor; (iii) the applicability to health care of the CVM guidelines issued by the National Oceanic and Atmospheric Administration (NOAA) panel for environmental economics is unclear.

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.

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.

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.

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.

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.

Coupled hydrological, ecological, decision and economic models for monetary valuation of riparian ecosystem services

NASA Astrophysics Data System (ADS)

Goodrich, D. C.; Brookshire, D.; Broadbent, C.; Dixon, M. D.; Brand, L. A.; Thacher, J.; Benedict, K. K.; Lansey, K. E.; Stromberg, J. C.; Stewart, S.; McIntosh, M.

2011-12-01

Water is a critical component for sustaining both natural and human systems. Yet the value of water for sustaining ecosystem services is not well quantified in monetary terms. Ideally decisions involving water resource management would include an apples-to-apples comparison of the costs and benefits in dollars of both market and non-market goods and services - human and ecosystem. To quantify the value of non-market ecosystem services, scientifically defensible relationships must be developed that link the effect of a decision (e.g. human growth) to the change in ecosystem attributes from current conditions. It is this linkage that requires the "poly-disciplinary" coupling of knowledge and models from the behavioral, physical, and ecological sciences. In our experience another key component of making this successful linkage is development of a strong poly-disciplinary scientific team that can readily communicate complex disciplinary knowledge to non-specialists outside their own discipline. The time to build such a team that communicates well and has a strong sense of trust should not be underestimated. The research described in the presentation incorporated hydrologic, vegetation, avian, economic, and decision models into an integrated framework to determine the value of changes in ecological systems that result from changes in human water use. We developed a hydro-bio-economic framework for the San Pedro River Region in Arizona that considers groundwater, stream flow, and riparian vegetation, as well as abundance, diversity, and distribution of birds. In addition, we developed a similar framework for the Middle Rio Grande of New Mexico. There are six research components for this project: (1) decision support and scenario specification, (2) regional groundwater model, (3) the riparian vegetation model, (4) the avian model, (5) methods for displaying the information gradients in the valuation survey instruments (Choice Modeling and Contingent Valuation), and (6) the economic framework. Our modeling framework began with the identification of factors that influence spatial and temporal changes in riparian vegetation on the two rivers. The linked modeling framework was then employed for making spatial predictions of the changes in presence of surface water, vegetation change, and avian populations in both river systems. An overview of the overall project will be provided, with lessons learned, and initial valuation survey results.

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...

29 CFR 4281.11 - Valuation dates.

Code of Federal Regulations, 2010 CFR

2010-07-01

... 29 Labor 9 2010-07-01 2010-07-01 false Valuation dates. 4281.11 Section 4281.11 Labor Regulations Relating to Labor (Continued) PENSION BENEFIT GUARANTY CORPORATION INSOLVENCY, REORGANIZATION, TERMINATION, AND OTHER RULES APPLICABLE TO MULTIEMPLOYER PLANS DUTIES OF PLAN SPONSOR FOLLOWING MASS WITHDRAWAL...

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...

EXPERIMENTAL TESTS OF PROVISION RULES IN CONJOINT ANALYSIS FOR ENVIRONMENTAL VALUATION

EPA Science Inventory

In recent years there has been increasing use of conjoint analysis for environmental valuation. With conjoint analysis applications, respondents are simply asked to reveal their preferences - no published conjoint applications explicitly or implicitly describe how a good will ...

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.

[Combine fats products: methodic opportunities of it identification].

PubMed

Viktorova, E V; Kulakova, S N; Mikhaĭlov, N A

2006-01-01

At present time very topical problem is falsification of milk fat. The number of methods was considered to detection of milk fat authention and possibilities his difference from combined fat products. The analysis of modern approaches to valuation of milk fat authention has showed that the main method for detection of fat nature is gas chromatography analysis. The computer method of express identification of fat products is proposed for quick getting of information about accessory of examine fat to nature milk or combined fat product.

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)

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

Evolution of cooperative behavior in simulation agents

NASA Astrophysics Data System (ADS)

Stroud, Phillip D.

1998-03-01

A simulated automobile factory paint shop is used as a testbed for exploring the emulation of human decision-making behavior. A discrete-events simulation of the paint shop as a collection of interacting Java actors is described. An evolutionary cognitive architecture is under development for building software actors to emulate humans in simulations of human- dominated complex systems. In this paper, the cognitive architecture is extended by implementing a persistent population of trial behaviors with an incremental fitness valuation update strategy, and by allowing a group of cognitive actors to share information. A proof-of-principle demonstration is presented.

Exploring information technology adoption by family physicians: survey instrument valuation.

PubMed Central

Dixon, D. R.; Stewart, M.

2000-01-01

As the information needs of family physicians become more complex, there will be a greater need to successfully implement the technologies needed to manage that information. The ability to stratify primary care physicians can enable the implementation process to be more efficient. This research tested a new instrument on 101 family physicians, and was able to stratify physicians into high, intermediate, and low information technology (IT) usage groups. It is expected that this stratification would allow managers of IT implementation to target specific adoption strategies for each group. The instrument is available from ddixon@julian.uwo.ca. PMID:11079870

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.

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.

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

Valuation of life in old and very old age: the role of sociodemographic, social, and health resources for positive adaptation.

PubMed

Jopp, Daniela; Rott, Christoph; Oswald, Frank

2008-10-01

Valuation of life (VOL) represents a construct capturing active attachment to life put forward by M. P. Lawton (e.g., 1999). As old and very old individuals may differ in terms of endorsement and with respect to what makes a life worth living, the present study investigated whether mean levels and the explanatory value of sociodemographic, social, and health predictors for VOL differ between young-old and old-old individuals. We presented a sample of 356 community-dwelling individuals aged 65 to 94 years with Lawton's Positive Valuation of Life Scale and established measures to assess predictors of VOL. Mean levels of VOL decreased from the third to the fourth age. Zero-order correlations showed significant relations between sociodemographic (i.e., age, gender, marital status, education), social (i.e., social contacts, phone calls, volunteering, contact with youth), and health (i.e., mobility, vision, hearing, activity restrictions, activity of daily living [ADL], instrumental ADL [IADL]) indicators. Regression analyses for the domain-specific predictors reduced the number of significant predictors to age, education, grandchildren, vision, and IADLs. When combining all sets of predictors, health explained twice as much variance in VOL compared to social indicators; sociodemographic indicators including age made no independent contribution. Separate analysis for young-old and old-old participants revealed age-differential prediction patterns. For the young-old, the role of health factors was especially strong, whereas specific social factors became more important in the old-old group. Age-differential predictive values of the resources seem to indicate positive adaptation to aging. Taking into account such prediction patterns may help to design specific interventions for young-old and old-old individuals.

Does responsibility affect the public's valuation of health care interventions? A relative valuation approach to health care safety.

PubMed

Singh, Jeshika; Lord, Joanne; Longworth, Louise; Orr, Shepley; McGarry, Teresa; Sheldon, Rob; Buxton, Martin

2012-01-01

Health services often spend more on safety interventions than seems cost-effective. This study investigates whether the public value safety-related health care improvements more highly than the same improvements in contexts where the health care system is not responsible. An online survey was conducted to elicit the relative importance placed on preventing harms caused by 1) health care (hospital-acquired infections, drug administration errors, injuries to health care staff), 2) individuals (personal lifestyle choices, sports-related injuries), and 3) nature (genetic disorders). Direct valuations were obtained from members of the public by using a person trade-off or "matching" method. Participants were asked to choose between two preventative interventions of equal cost and equal health benefit per person for the same number of people, but differing in causation. If participants indicated a preference, their strength of preference was measured by using person trade-off. Responses were obtained from 1030 people, reflecting the sociodemographic mix of the UK population. Participants valued interventions preventing hospital-acquired infections (1.31) more highly than genetic disorders (1.0), although drug errors were valued similarly to genetic disorders (1.07), and interventions to prevent injury to health care staff were given less weight than genetic disorders (0.71). Less weight was also given to interventions related to lifestyle (0.65) and sports injuries (0.41). Our results suggest that people do not attach a simple fixed premium to "safety-related" interventions but that preferences depend more subtly on context. The use of the results of such public preference surveys to directly inform policy would therefore be premature. Copyright © 2012 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

Discretely Integrated Condition Event (DICE) Simulation for Pharmacoeconomics.

PubMed

Caro, J Jaime

2016-07-01

Several decision-analytic modeling techniques are in use for pharmacoeconomic analyses. Discretely integrated condition event (DICE) simulation is proposed as a unifying approach that has been deliberately designed to meet the modeling requirements in a straightforward transparent way, without forcing assumptions (e.g., only one transition per cycle) or unnecessary complexity. At the core of DICE are conditions that represent aspects that persist over time. They have levels that can change and many may coexist. Events reflect instantaneous occurrences that may modify some conditions or the timing of other events. The conditions are discretely integrated with events by updating their levels at those times. Profiles of determinant values allow for differences among patients in the predictors of the disease course. Any number of valuations (e.g., utility, cost, willingness-to-pay) of conditions and events can be applied concurrently in a single run. A DICE model is conveniently specified in a series of tables that follow a consistent format and the simulation can be implemented fully in MS Excel, facilitating review and validation. DICE incorporates both state-transition (Markov) models and non-resource-constrained discrete event simulation in a single formulation; it can be executed as a cohort or a microsimulation; and deterministically or stochastically.

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.

29 CFR 4281.17 - Asset valuation methods-in general.

Code of Federal Regulations, 2010 CFR

2010-07-01

... 29 Labor 9 2010-07-01 2010-07-01 false Asset valuation methods-in general. 4281.17 Section 4281.17 Labor Regulations Relating to Labor (Continued) PENSION BENEFIT GUARANTY CORPORATION INSOLVENCY, REORGANIZATION, TERMINATION, AND OTHER RULES APPLICABLE TO MULTIEMPLOYER PLANS DUTIES OF PLAN SPONSOR FOLLOWING...

29 CFR 4281.13 - Benefit valuation methods-in general.

Code of Federal Regulations, 2010 CFR

2010-07-01

... 29 Labor 9 2010-07-01 2010-07-01 false Benefit valuation methods-in general. 4281.13 Section 4281.13 Labor Regulations Relating to Labor (Continued) PENSION BENEFIT GUARANTY CORPORATION INSOLVENCY, REORGANIZATION, TERMINATION, AND OTHER RULES APPLICABLE TO MULTIEMPLOYER PLANS DUTIES OF PLAN SPONSOR FOLLOWING...

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...

[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

Valuing the visual impact of wind farms: A calculus method for synthesizing choice experiments studies.

PubMed

Wen, Cheng; Dallimer, Martin; Carver, Steve; Ziv, Guy

2018-05-06

Despite the great potential of mitigating carbon emission, development of wind farms is often opposed by local communities due to the visual impact on landscape. A growing number of studies have applied nonmarket valuation methods like Choice Experiments (CE) to value the visual impact by eliciting respondents' willingness to pay (WTP) or willingness to accept (WTA) for hypothetical wind farms through survey questions. Several meta-analyses have been found in the literature to synthesize results from different valuation studies, but they have various limitations related to the use of the prevailing multivariate meta-regression analysis. In this paper, we propose a new meta-analysis method to establish general functions for the relationships between the estimated WTP or WTA and three wind farm attributes, namely the distance to residential/coastal areas, the number of turbines and turbine height. This method involves establishing WTA or WTP functions for individual studies, fitting the average derivative functions and deriving the general integral functions of WTP or WTA against wind farm attributes. Results indicate that respondents in different studies consistently showed increasing WTP for moving wind farms to greater distances, which can be fitted by non-linear (natural logarithm) functions. However, divergent preferences for the number of turbines and turbine height were found in different studies. We argue that the new analysis method proposed in this paper is an alternative to the mainstream multivariate meta-regression analysis for synthesizing CE studies and the general integral functions of WTP or WTA against wind farm attributes are useful for future spatial modelling and benefit transfer studies. We also suggest that future multivariate meta-analyses should include non-linear components in the regression functions. Copyright © 2018. Published by Elsevier B.V.

Challenges in Valuing Temporary Health States for Economic Evaluation: A Review of Empirical Applications of the Chained Time Trade-Off Method.

PubMed

Stoniute, Julija; Mott, David John; Shen, Jing

2018-05-01

The time trade-off (TTO) technique is commonly used to elicit health state utilities. Nevertheless, when the health states being valued are temporary, the TTO approach may be unsuitable. A variant of TTO- chained TTO-has been suggested to be used when the health states are temporary, but little research has been done on how chained TTO should be conducted. To systematically review the use of chained TTO in valuing temporary health states. A systematic literature search was conducted using the following major databases: Ovid MEDLINE(R), Embase, EBM Reviews, and PsycINFO. Abstracts (full articles if necessary) were screened by two independent reviewers, with a third reviewer resolving any disagreements. The resulting number of articles for review was low (n = 9). All the reviewed studies used face-to-face interviews, most had small sample sizes (<100), and all studies valued a small number of health states (<7), with time horizons typically ranging from 4 weeks to 1 year. All studies discussed methodological issues of using chained TTO, and some compared the results with those generated using other preference elicitation methods. Chained TTO appears to be feasible, consistent, and responsive and allows the valuation of temporary health states that would improve the efficiency and accuracy of decision making in health and health care. Nevertheless, the evidence is limited due to the low number of relevant studies in the literature. Further research is needed to examine the performance and validity of chained TTO compared with conventional TTO in the valuation of temporary health states. Copyright © 2017 International Society for Pharmacoeconomics and Outcomes Research (ISPOR). Published by Elsevier Inc. All rights reserved.

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...

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...

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 ...

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...

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…

26 CFR 25.7520-4 - Transitional rules.

Code of Federal Regulations, 2010 CFR

2010-04-01

... GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954 General Actuarial Valuations § 25.7520-4 Transitional rules. (a) Reliance. If the valuation date is after April 30, 1989, and before June 10, 1994, a donor... an interest in property by gift after December 31, 1988, and before May 1, 1989, retaining an...

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...

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.

Neurons in the pigeon caudolateral nidopallium differentiate Pavlovian conditioned stimuli but not their associated reward value in a sign-tracking paradigm

PubMed Central

Kasties, Nils; Starosta, Sarah; Güntürkün, Onur; Stüttgen, Maik C.

2016-01-01

Animals exploit visual information to identify objects, form stimulus-reward associations, and prepare appropriate behavioral responses. The nidopallium caudolaterale (NCL), an associative region of the avian endbrain, contains neurons exhibiting prominent response modulation during presentation of reward-predicting visual stimuli, but it is unclear whether neural activity represents valuation signals, stimulus properties, or sensorimotor contingencies. To test the hypothesis that NCL neurons represent stimulus value, we subjected pigeons to a Pavlovian sign-tracking paradigm in which visual cues predicted rewards differing in magnitude (large vs. small) and delay to presentation (short vs. long). Subjects’ strength of conditioned responding to visual cues reliably differentiated between predicted reward types and thus indexed valuation. The majority of NCL neurons discriminated between visual cues, with discriminability peaking shortly after stimulus onset and being maintained at lower levels throughout the stimulus presentation period. However, while some cells’ firing rates correlated with reward value, such neurons were not more frequent than expected by chance. Instead, neurons formed discernible clusters which differed in their preferred visual cue. We propose that this activity pattern constitutes a prerequisite for using visual information in more complex situations e.g. requiring value-based choices. PMID:27762287

PCSK9 inhibitor valuation: A science‐based review of the two recent models

PubMed Central

Cannon, Christopher P.

2018-01-01

Low‐density lipoprotein cholesterol (LDL‐C) has been extensively evaluated. Prospective cohort studies, randomized controlled trials, biology, pathophysiology, genetics, and Mendelian randomization studies, have clearly taught us that LDL‐C causes atherosclerotic cardiovascular disease. The newest class of drugs to lower LDL‐C, the proprotein convertase subtilisin/kexin type 9 (PCSK9) monoclonal antibodies, have been found to safely reduce LDL‐C approximately 60% when added to high‐intensity statin therapy. Because their cost is much greater than that of the currently available agents, their value has been questioned. In late August, 2017, two groups assessed the value of this class of drugs looking at cost‐effectiveness; however, the Institute for Clinical and Economic Review and Fonarow and colleagues found disparate results when assessing PCSK9 valuation. Herein, we review the evolution of LDL‐C from hypothesis to fact, and then attempt to adjudicate the 2 models, shedding light on the complex modeling process. We find that models of cost‐effectiveness are helpful adjuncts to decision making, but that their conclusions depend on many assumptions. Ultimately, clinician judgment regarding their clinical benefit, balanced by some estimation of cost, may be more productive to target the right patients for whom the benefits can be well‐justified. PMID:29512936

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.

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.

Green roof valuation: a probabilistic economic analysis of environmental benefits.

PubMed

Clark, Corrie; Adriaens, Peter; Talbot, F Brian

2008-03-15

Green (vegetated) roofs have gained global acceptance as a technologythat has the potential to help mitigate the multifaceted, complex environmental problems of urban centers. While policies that encourage green roofs exist atthe local and regional level, installation costs remain at a premium and deter investment in this technology. The objective of this paper is to quantitatively integrate the range of stormwater, energy, and air pollution benefits of green roofs into an economic model that captures the building-specific scale. Currently, green roofs are primarily valued on increased roof longevity, reduced stormwater runoff, and decreased building energy consumption. Proper valuation of these benefits can reduce the present value of a green roof if investors look beyond the upfront capital costs. Net present value (NPV) analysis comparing a conventional roof system to an extensive green roof system demonstrates that at the end of the green roof lifetime the NPV for the green roof is between 20.3 and 25.2% less than the NPV for the conventional roof over 40 years. The additional upfront investment is recovered at the time when a conventional roof would be replaced. Increasing evidence suggests that green roofs may play a significant role in urban air quality improvement For example, uptake of N0x is estimated to range from $1683 to $6383 per metric ton of NOx reduction. These benefits were included in this study, and results translate to an annual benefit of $895-3392 for a 2000 square meter vegetated roof. Improved air quality leads to a mean NPV for the green roof that is 24.5-40.2% less than the mean conventional roof NPV. Through innovative policies, the inclusion of air pollution mitigation and the reduction of municipal stormwater infrastructure costs in economic valuation of environmental benefits of green roofs can reduce the cost gap that currently hinders U.S. investment in green roof technology.

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…

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...

26 CFR 1.6662-5T - Substantial and gross valuation misstatements under chapter 1 (temporary).

Code of Federal Regulations, 2010 CFR

2010-04-01

..., DEPARTMENT OF THE TREASURY (CONTINUED) INCOME TAX (CONTINUED) INCOME TAXES Additions to the Tax, Additional... persons). (iii) Property. For purposes of this section, the term property refers to both tangible and... adjustments. For rules relating to the penalty imposed with respect to a substantial or gross valuation...

76 FR 67105 - Cash Balance Plans; Benefit Determinations and Plan Valuations for Statutory Hybrid Plans...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-10-31

... Balance Plans; Benefit Determinations and Plan Valuations for Statutory Hybrid Plans; Pension Protection... rules for determining benefits upon the termination of a statutory hybrid plan, such as a cash balance... cash balance plan presents unique issues for PBGC.\\2\\ In contrast to a traditional defined benefit plan...

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...

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

Code of Federal Regulations, 2014 CFR

2014-04-01

... 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 1.61-21 - Taxation of fringe benefits.

Code of Federal Regulations, 2014 CFR

2014-04-01

... in effect from January 1, 1985, to December 31, 1988. (7) Outline of this section. The following is.... (4) Valuation of personal use only. (5) Consistency rules. § 1.61-21 (f) Commuting valuation rule. (1) In general. (2) Special rules. (3) Commuting value. (4) Definition of vehicle. (5) Control employee...

26 CFR 1.61-21 - Taxation of fringe benefits.

Code of Federal Regulations, 2012 CFR

2012-04-01

... in effect from January 1, 1985, to December 31, 1988. (7) Outline of this section. The following is.... (4) Valuation of personal use only. (5) Consistency rules. § 1.61-21 (f) Commuting valuation rule. (1) In general. (2) Special rules. (3) Commuting value. (4) Definition of vehicle. (5) Control employee...

26 CFR 1.61-21 - Taxation of fringe benefits.

Code of Federal Regulations, 2011 CFR

2011-04-01

... in effect from January 1, 1985, to December 31, 1988. (7) Outline of this section. The following is.... (4) Valuation of personal use only. (5) Consistency rules. § 1.61-21 (f) Commuting valuation rule. (1) In general. (2) Special rules. (3) Commuting value. (4) Definition of vehicle. (5) Control employee...

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...

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...

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.

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.

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

Sequential Auctions with Partially Substitutable Goods

NASA Astrophysics Data System (ADS)

Vetsikas, Ioannis A.; Jennings, Nicholas R.

In this paper, we examine a setting in which a number of partially substitutable goods are sold in sequential single unit auctions. Each bidder needs to buy exactly one of these goods. In previous work, this setting has been simplified by assuming that bidders do not know their valuations for all items a priori, but rather are informed of their true valuation for each item right before the corresponding auction takes place. This assumption simplifies the strategies of bidders, as the expected revenue from future auctions is the same for all bidders due to the complete lack of private information. In our analysis we don't make this assumption. This complicates the computation of the equilibrium strategies significantly. We examine this setting both for first and second-price auction variants, initially when the closing prices are not announced, for which we prove that sequential first and second-price auctions are revenue equivalent. Then we assume that the prices are announced; because of the asymmetry in the announced prices between the two auction variants, revenue equivalence does not hold in this case. We finish the paper, by giving some initial results about the case when free disposal is allowed, and therefore a bidder can purchase more than one item.

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.

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).

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.

[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.

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

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

Bayesian Inversion of Concentration Data for an Unknown Number of Contaminant Sources

DTIC Science & Technology

2007-06-01

répondre aux urgences et celle de leur gestion rétrospective dirigée contre des incidents ter- roristes comprenant la dissémination secrète d’agent CBR...d’intervention d’urgence avancé pour la prédiction et l’évaluation des risques CBRN en mi- lieu urbain). Cette composante a été incorporée dans le...computationally efficient methodology for de - termination of the likelihood function for the problem, based on an adjoint representation of the source–receptor

Behavioral Economics of Self-Control Failure

PubMed Central

Heshmat, Shahram

2015-01-01

The main idea in this article is that addiction is a consequence of falling victim to decision failures that lead to preference for the addictive behaviors. Addiction is viewed as valuation disease, where the nervous system overvalues cues associated with drugs or drug-taking. Thus, addiction can be viewed as a diminished capacity to choose. Addicted individuals assign lower values to delayed rewards than to immediate ones. The preference for immediate gratification leads to self-control problems. This article highlights a number of motivational forces that can generate self-control failure. PMID:26339218

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...

Contingent Valuation of Forest Ecosystem Protection

Treesearch

Randall A. Kramer; Thomas P. Holmes; Michelle Haefele

2003-01-01

In recent decades, concerns have arisen about the proper valuation of the world's forests. While some of these concerns have to do with market distortions for timber products or inadequate data on non-timber forest products, an additional challenge is to uncover the economic worth of non- market services provided by forest ecosystems (Kramer et al. 1997). This has...

25 CFR 162.524 - Will BIA require a valuation for a WEEL?

Code of Federal Regulations, 2014 CFR

2014-04-01

... 25 Indians 1 2014-04-01 2014-04-01 false Will BIA require a valuation for a WEEL? 162.524 Section 162.524 Indians BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR LAND AND WATER LEASES AND PERMITS Wind and Solar Resource Leases Weel Monetary Compensation Requirements § 162.524 Will BIA require a...

25 CFR 162.524 - Will BIA require a valuation for a WEEL?

Code of Federal Regulations, 2013 CFR

2013-04-01

... 25 Indians 1 2013-04-01 2013-04-01 false Will BIA require a valuation for a WEEL? 162.524 Section 162.524 Indians BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR LAND AND WATER LEASES AND PERMITS Wind and Solar Resource Leases Weel Monetary Compensation Requirements § 162.524 Will BIA require a...

Valuation and Presentation Conventions in News Communication: A Formula for Measurement.

ERIC Educational Resources Information Center

Corrigan, Dennis M.

To increase knowledge about the nature of news (particularly its valuation and presentation conventions), to enrich understanding of communication conventions in our society through the study of news communication, and to fashion a tool that can be used to charge and change such conventions, a study examined the content of all news articles…

30 CFR 207.3 - Contracts made pursuant to new form leases.

Code of Federal Regulations, 2010 CFR

2010-07-01

... in any contract or other arrangement made for the sale or disposal of oil, gas, natural gasoline, and..., including, but not limited to, provisions relating to gas waste, taking royalty-in-kind, and the method of computing royalties due as based on a minimum valuation and in accordance with the oil and gas valuation...

Music, Pandas, and Muggers: On the Affective Psychology of Value

ERIC Educational Resources Information Center

Hsee, Christopher K.; Rottenstreich, Yuval

2004-01-01

This research investigated the relationship between the magnitude or scope of a stimulus and its subjective value by contrasting 2 psychological processes that may be used to construct preferences: valuation by feeling and valuation by calculation. The results show that when people rely on feeling, they are sensitive to the presence or absence of…

76 FR 37321 - Fresh Garlic From the People's Republic of China: Final Results and Final Rescission, in Part, of...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-06-27

... members of the FGPA are Christopher Ranch L.L.C., The Garlic Company, Valley Garlic, and Vessey and... submitted rebuttal comments concerning the valuation of factors of production. On February 4, 2011, Xinboda...: Wholesale Price Index Comment 5: Xinboda's Water Valuation Comment 6: Surrogate Financial Ratios Comment 7...

17 CFR 270.2a41-1 - Valuation of standby commitments by registered investment companies.

Code of Federal Regulations, 2010 CFR

2010-04-01

..., and will be considered to be from the party to whom the investment company will look for payment of... standby commitment is not used to affect the company's valuation of the security or securities underlying the standby commitment; and (2) Any consideration paid by the company for the standby commitment...

76 FR 71491 - Gross Estate; Election to Value on Alternate Valuation Date

Federal Register 2010, 2011, 2012, 2013, 2014

2011-11-18

...'s estate may elect to exclude from the gross estate a portion of the fair market value of property includible in the decedent's gross estate by granting a qualified conservation easement on that property... the alternate valuation period, but only to the extent that the reduction in value is due to market...

Do Alcohol Expectancy Outcomes and Valuations Mediate Peer Influences and Lifetime Alcohol Use among Early Adolescents?

ERIC Educational Resources Information Center

Zamboanga, Byron L.; Schwartz, Seth J.; Ham, Lindsay S.; Jarvis, Lorna Hernandez; Olthuis, Janine V.

2009-01-01

Building on the theory of reasoned action (I. Ajzen & M. Fishbein, 1973, 1980; M. Fishbein & I. Ajzen, 1975) and expectancy theory, the authors examined the mediating role of alcohol expectancies in adolescent drinking behaviors by testing whether alcohol expectancy outcomes and valuations (the extent to which these outcomes are perceived…

Prospective Primary Teachers' Prior Experiences, Conceptions, and Pedagogical Valuations of Experimental Activities in Science Education

ERIC Educational Resources Information Center

García-Carmona, Antonio; Criado, Ana M.; Cruz-Guzmán, Marta

2018-01-01

A diagnostic study is presented of the prior experiences, conceptions, and pedagogical valuations of prospective primary teachers (PPTs) about experimental activities (ExA's) in science education. The participants were 121 PPTs who, in small teams, responded to various questions related to ExA. Their responses were analysed interpretively with…

76 FR 67146 - Certain Preserved Mushrooms From the People's Republic of China: Final Results of Antidumping...

Federal Register 2010, 2011, 2012, 2013, 2014

2011-10-31

... surrogate value to use for the input cow manure. We received comments from Hengyong, Hongda, and Monterey... the correct valuation of the input cow manure. Our September 8, 2011, letter included eight exhibits each consisting of a valuation source for cow manure different from the source we used in the...

26 CFR 22.0 - Certain elections under the Economic Recovery Tax Act of 1981.

Code of Federal Regulations, 2010 CFR

2010-04-01

... invalid. (b) Election of special use valuation for qualified real property. This paragraph applies to the election of special use valuation for qualified real property under section 2032A(d)(1) of the Code, as... the Code, (iii) Specifies the property with respect to which the election is made, and (iv) Provides...

Equity for Rural School Districts: The Final Report of the Countryside Council's School Finance Task Force.

ERIC Educational Resources Information Center

Wiener, Steve

Soaring values of agricultural land have created inequities in funding between urban and rural school districts in Minnesota. The state's Foundation Aid to school districts is formulated so that districts of high property valuation receive less Foundation Aid than those districts with low property valuation. In recent years inflation has had…

Industrial and Commercial Property and the Dispersion of Assessed Valuation per Pupil

ERIC Educational Resources Information Center

Boltz, Paul W.

1973-01-01

Examines the dispersion of assessed valuation per pupil in Illinois and evaluates some proposals that might reduce this dispersion. The major proposal considered by the author is removal of industrial and commercial property (I & C) from local rolls. The conclusion is drawn that removing I & C from the property tax base has little or no…

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...

An Investigation into Appraisal Bias: The Role of Decision Support Tools in Debiasing Valuation Judgments

ERIC Educational Resources Information Center

Tidwell, Owen Alan

2011-01-01

Given the nature of the valuation task environment appraisers are often made aware of previous value opinions rendered by appraisers, commonly in the form of an historic appraisal. And, because an appraisal task involves the rendering of market value, a hypothetical, unobservable construct based on probabilities, direct feedback against this…

Hedonic valuation with translating amenities: Mountain Pine Beetles and host trees in the Colorado Front Range

Treesearch

Jed Cohen; Christine E. Blinn; Kevin J. Boyle; Tom Holmes; Klaus Moeltner

2016-01-01

In hedonic valuation studies the policy-relevant environmental quality attribute of interest is often costly to measure, especially under pronounced spatial and temporal variability. However, in many cases this attribute affects home prices and consumer preferences solely through its impact on a readily observable, spatially delineated, and time-invariant feature of...

Valuating Privacy with Option Pricing Theory

NASA Astrophysics Data System (ADS)

Berthold, Stefan; Böhme, Rainer

One of the key challenges in the information society is responsible handling of personal data. An often-cited reason why people fail to make rational decisions regarding their own informational privacy is the high uncertainty about future consequences of information disclosures today. This chapter builds an analogy to financial options and draws on principles of option pricing to account for this uncertainty in the valuation of privacy. For this purpose, the development of a data subject's personal attributes over time and the development of the attribute distribution in the population are modeled as two stochastic processes, which fit into the Binomial Option Pricing Model (BOPM). Possible applications of such valuation methods to guide decision support in future privacy-enhancing technologies (PETs) are sketched.

Factors affecting the valuation of physician practices.

PubMed

Cleverley, W O

1997-12-01

Valuation of physician practices provides physicians with a benchmark of their business success and helps purchasers negotiate a purchase price. The Center for Healthcare Industry Performance Studies (CHIPS) recently conducted a survey of physician practice acquisitions. The survey collected data on salaries and benefits paid to physicians after practice acquisition, historical profitability of the acquired practice, and specific values assigned to both tangible and intangible assets in the practice. Some of the survey's critical conclusions include: hospitals tend to acquire unprofitable practices, value is based on historical revenues rather than historical profits, the importance of valuation methodology and payer mix is underestimated, tangible assets represent a large part of the purchase price, and hospitals tend to pay higher physician compensation than do other purchasers.

Timing effects in health valuations.

PubMed

Leiter, Andrea M; Pruckner, Gerald J

2014-06-01

This paper analyzes the impact of external sources of information, conveyed by the frequency of risky events that vary across time, on the individual willingness to pay (WTP) for a reduction of mortality risk. We collected data from a contingent valuation (CV) exercise conducted in two waves (fall and winter) to examine whether individual WTP varied across periods that differed in the predominance of fatal accidents. Risk valuations were based on fatal snow avalanche accidents, that is, a type of risk with seasonal differences in occurrence. We found slightly lower but statistically significant mean WTP figures in the winter than in the fall sample because of time-varying individual risk attitudes and, therefore, recommend controlling for these factors in risk assessment CV surveys. Copyright © 2013 John Wiley & Sons, Ltd.

Advancing educational diversity: antifragility, standardization, democracy, and a multitude of education options

NASA Astrophysics Data System (ADS)

Fortunato, Michael W. P.

2017-03-01

This essay is a response to a paper by Avery and Hains that raises questions about the often unintended effects of knowledge standardization in an educational setting. While many K-12 schools are implementing common core standards, and many institutions of higher education are implementing their own standardized educational practices, the question is raised about what is lost in this effort to ensure regularity and consistency in educational outcomes. One such casualty may be local knowledge, which in a rural context includes ancestral knowledge about land, society, and cultural meaning. This essay explores whether or not efforts to standardize crowd out such knowledge, and decrease the diversity of knowledge within our society's complex ecosystem—thus making the ecosystem weaker. Using antifragility as a useful idea for examining system complexity, the essay considers the impact of standardization on innovation, democracy, and the valuation of some forms of knowledge (and its bearers) above others.

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.

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

Geoinformatic subsystem for real estate market analysis). (Polish Title: Podsystem geoinformatyczny do analizy rynku nieruchomosci)

NASA Astrophysics Data System (ADS)

Basista, A.

2013-12-01

There are many tools to manage spatial data. They called Geographic Information System (GIS), which apart from data visualization in space, let users make various spatial analysis. Thanks to them, it is possible to obtain more, essential information for real estate market analysis. Many scientific research present GIS exploitation to future mass valuation, because it is necessary to use advanced tools to manage such a huge real estates' data sets gathered for mass valuation needs. In practice, appraisers use rarely these tools for single valuation, because there are not many available GIS tools to support real estate valuation. The paper presents the functionality of geoinformatic subsystem, that is used to support real estate market analysis and real estate valuation. There are showed a detailed description of the process relied to attributes' inputting into the database and the attributes' values calculation based on the proposed definition of attributes' scales. This work presents also the algorithm of similar properties selection that was implemented within the described subsystem. The main stage of this algorithm is the calculation of the price creative indicator for each real estate, using their attributes' values. The set of properties, chosen in this way, are visualized on the map. The geoinformatic subsystem is used for the un-built real estates and living premises. Geographic Information System software was used to worked out this project. The basic functionality of gvSIG software (open source software) was extended and some extra functions were added to support real estate market analysis.

Valuing ecosystem services using benefit transfer: separating credible and incredible approaches: chapter 3

USGS Publications Warehouse

Loomis, John H.; Richardson, Leslie; Kroeger, Timm; Casey, Frank

2014-01-01

Ecosystem goods and services are now widely recognized as the benefits that humans derive from the natural environment around them including abiotic (e.g. atmosphere) and biotic components. The work by Costanza et al. (1997) to value the world’s ecosystem services brought the concept of ecosystem service valuation to the attention of the world press and environmental economists working in the area of non-market valuation. The article’s US$33 trillion estimate of these services, despite world GDP being only US$18 trillion, was definitely headline grabbing. This ambitious effort was undertaken with reliance on transferring existing values per unit from other (often site specific) valuation studies. Benefit transfer (see Boyle and Bergstrom, 1992; Rosenberger and Loomis, 2000, 2001) involves transfers of values per unit from an area that has been valued using primary valuation methods such as contingent valuation, travel cost or hedonic property methods (Champ et al., 2003) to areas for which values are needed. Benefit transfer often provides a reasonable approximation of the benefit of unstudied ecosystem services based on transfer of benefits estimates per unit (per visitor day, per acre) from existing studies. An appropriate benefit transfer should be performed on the same spatial scale of analysis (e.g. reservoir to reservoir, city to city) as the original study. However, the reasonableness of benefit transfer may be strained when applying locally derived per acre values from studies of several thousand acres of a resource such as wetlands to hundreds of millions of acres of wetlands.

Separate valuation subsystems for delay and effort decision costs.

PubMed

Prévost, Charlotte; Pessiglione, Mathias; Météreau, Elise; Cléry-Melin, Marie-Laure; Dreher, Jean-Claude

2010-10-20

Decision making consists of choosing among available options on the basis of a valuation of their potential costs and benefits. Most theoretical models of decision making in behavioral economics, psychology, and computer science propose that the desirability of outcomes expected from alternative options can be quantified by utility functions. These utility functions allow a decision maker to assign subjective values to each option under consideration by weighting the likely benefits and costs resulting from an action and to select the one with the highest subjective value. Here, we used model-based neuroimaging to test whether the human brain uses separate valuation systems for rewards (erotic stimuli) associated with different types of costs, namely, delay and effort. We show that humans devalue rewards associated with physical effort in a strikingly similar fashion to those they devalue that are associated with delays, and that a single computational model derived from economics theory can account for the behavior observed in both delay discounting and effort discounting. However, our neuroimaging data reveal that the human brain uses distinct valuation subsystems for different types of costs, reflecting in opposite fashion delayed reward and future energetic expenses. The ventral striatum and the ventromedial prefrontal cortex represent the increasing subjective value of delayed rewards, whereas a distinct network, composed of the anterior cingulate cortex and the anterior insula, represent the decreasing value of the effortful option, coding the expected expense of energy. Together, these data demonstrate that the valuation processes underlying different types of costs can be fractionated at the cerebral level.

Measuring the difference in mean willingness to pay when dichotomous choice contingent valuation responses are not independent

Treesearch

Gregory L. Poe; Michael P. Welsh; Patricia A. Champ

1997-01-01

Dichotomous choice contingent valuation surveys frequently elicit multiple values in a single questionnaire. If individual responses are correlated across scenarios, the standard approach of estimating willingness to pay (WTP) functions independently for each scenario may result in biased estimates of the significance of the difference in mean WTP values. This paper...

75 FR 17428 - Notice of Proposed New Information Collection for Focus Groups for Non-use Valuation Survey...

Federal Register 2010, 2011, 2012, 2013, 2014

2010-04-06

... a nonuse valuation survey of the U.S. public. A key aspect of the survey design process is to use... use the results of these information collection activities to optimize the design of the survey... information to address several key questions relating to the survey and, in particular, the conjoint design...

Testing the effectiveness of certainty scales, cheap talk, and dissonance-minimization in reducing hypothetical bias in contingent valuation studies

Treesearch

Mark Morrison; Thomas C. Brown

2009-01-01

Stated preference methods such as contingent valuation and choice modeling are subject to various biases that may lead to differences between actual and hypothetical willingness to pay. Cheap talk, follow-up certainty scales, and dissonance minimization are three techniques for reducing this hypothetical bias. Cheap talk and certainty scales have received considerable...

Direct and Indirect Effects of Religiosity on Valuation of Life through Forgiveness and Social Provisions among Older Incarcerated Males

ERIC Educational Resources Information Center

Randall, G. K.; Bishop, Alex J.

2013-01-01

Purpose of the study: Few studies have investigated the influence of religiosity (REL), forgiveness, and social resources on incarcerated individuals' attachment to their lives, or valuation of life (VOL). We tested a model linking REL to VOL through 3 subscales of the Heartland Forgiveness Scale (Self, Others, and Situations) and social…

Explaining the discrepancy between intentions and actions: the case of hypothetical bias in contingent valuation

Treesearch

Icek Ajzen; Thomas C. Brown; Franklin Carvajal

2004-01-01

An experiment was designed to account for intention-behavior discrepancies by applying the theory of planned behavior to contingent valuation. College students (N = 160) voted in hypothetical and real payment referenda to contribute $8 to a scholarship fund. Overestimates of willingness to pay in the hypothetical referendum could not be attributed to moderately...

A comparison of cheap talk and alternative certainty calibration techniques in contingent valuation

Treesearch

Mihail Samnaliev; Thomas Stevens; Thomas More

2003-01-01

A field test of cheap talk and two types of certainty calibration in contingent valuation of public lands indicated that cheap talk does not reduce WTP estimates. Use of a ten point certainty calibration scale reduces WTP estimates by about half. However, adjusting for uncertainty using a 'Not Sure' option does not reduce WTP estimates but increases the...

26 CFR 1.664-4A - Valuation of charitable remainder interests for which the valuation date is before May 1, 2009.

Code of Federal Regulations, 2010 CFR

2010-04-01

... 16 .30229 .27279 .24647 .22296 .20196 17 .30838 .27876 .25228 .22859 .20739 18 .31451 .28477 .25813... .12143 16 .18318 .16638 .15133 .13785 .12576 17 .18840 .17138 .15611 .14241 .13010 18 .19367 .17643... .07808 16 .11491 .10516 .09640 .08852 .08142 17 .11903 .10908 .10012 .09204 .08475 18 .12321 .11304...

26 CFR 1.664-4A - Valuation of charitable remainder interests for which the valuation date is before May 1, 2009.

Code of Federal Regulations, 2011 CFR

2011-04-01

... 15 .29621 .26684 .24067 .21735 .19655 16 .30229 .27279 .24647 .22296 .20196 17 .30838 .27876 .25228... .11712 15 .17798 .16140 .14657 .13331 .12143 16 .18318 .16638 .15133 .13785 .12576 17 .18840 .17138... .07474 15 .11080 .10126 .09269 .08500 .07808 16 .11491 .10516 .09640 .08852 .08142 17 .11903 .10908...

26 CFR 1.664-4A - Valuation of charitable remainder interests for which the valuation date is before May 1, 2009.

Code of Federal Regulations, 2014 CFR

2014-04-01

... 15 .29621 .26684 .24067 .21735 .19655 16 .30229 .27279 .24647 .22296 .20196 17 .30838 .27876 .25228... .11712 15 .17798 .16140 .14657 .13331 .12143 16 .18318 .16638 .15133 .13785 .12576 17 .18840 .17138... .07474 15 .11080 .10126 .09269 .08500 .07808 16 .11491 .10516 .09640 .08852 .08142 17 .11903 .10908...

26 CFR 1.664-4A - Valuation of charitable remainder interests for which the valuation date is before May 1, 2009.

Code of Federal Regulations, 2013 CFR

2013-04-01

... 15 .29621 .26684 .24067 .21735 .19655 16 .30229 .27279 .24647 .22296 .20196 17 .30838 .27876 .25228... .11712 15 .17798 .16140 .14657 .13331 .12143 16 .18318 .16638 .15133 .13785 .12576 17 .18840 .17138... .07474 15 .11080 .10126 .09269 .08500 .07808 16 .11491 .10516 .09640 .08852 .08142 17 .11903 .10908...

26 CFR 1.664-4A - Valuation of charitable remainder interests for which the valuation date is before May 1, 2009.

Code of Federal Regulations, 2012 CFR

2012-04-01

... 15 .29621 .26684 .24067 .21735 .19655 16 .30229 .27279 .24647 .22296 .20196 17 .30838 .27876 .25228... .11712 15 .17798 .16140 .14657 .13331 .12143 16 .18318 .16638 .15133 .13785 .12576 17 .18840 .17138... .07474 15 .11080 .10126 .09269 .08500 .07808 16 .11491 .10516 .09640 .08852 .08142 17 .11903 .10908...

26 CFR 1.6662-5T - Substantial and gross valuation misstatements under chapter 1 (temporary).

Code of Federal Regulations, 2011 CFR

2011-04-01

... under chapter 1 (temporary). 1.6662-5T Section 1.6662-5T Internal Revenue INTERNAL REVENUE SERVICE..., Additional Amounts, and Assessable Penalties § 1.6662-5T Substantial and gross valuation misstatements under chapter 1 (temporary). (a)-(e)(3) [Reserved]. For further information, see § 1.6662-5(a) through (e)(3...

Benefit transfer of outdoor recreation use values: A technical document supporting the Forest Service Strategic Plan (2000 revision)

Treesearch

Randall S. Rosenberger; John B. Loomis

2001-01-01

We present an annotated bibliography that provides information on and reference to the literature on outdoor recreation use valuation studies. This information is presented by study source, benefit measures, recreation activity, valuation methodology, and USDA Forest Service region. Tables are provided that reference the bibliography for each activity, enabling easy...

75 FR 61130 - Fresh Garlic From the People's Republic of China: Final Results of New Shipper Review

Federal Register 2010, 2011, 2012, 2013, 2014

2010-10-04

... Ranch L.L.C., the Garlic Company, Valley Garlic, and Vessey and Company, Inc. (collectively, Petitioners... reconsideration of its valuation of the labor wage rate for this review. The Department gave interested parties... Valuation of Garlic Bulbs Issue 3: Use of India Wholesale Price Index as Inflator for Surrogate Values Issue...

Information bias in contingent valuation: effects of personal relevance, quality of information, and motivational orientation

Treesearch

Icek Ajzen; Thomas C. Brown; Lori H. Rosenthal

1996-01-01

A laboratory experiment examined the potential for information bias in contingent valuation (CV). Consistent with the view that information about a public or private good can function as a persuasive communication, willingness to pay (WTP) was found to increase with the quality of arguments used to describe the good, especially under conditions of high personal...

Teacher Valuation and Use of Posters to Promote Sustainability of Wetlands in Kenya

ERIC Educational Resources Information Center

Ndaruga, Ayub Macharia

2009-01-01

Posters have a long history of use as tools to promote awareness on diverse issues including environmental conservation. A study was done using 39 primary school teachers in Kenya to explore their valuation and use of a wetlands poster during their teaching at school and within the community. The teachers were sampled using a non-purposive,…

26 CFR 20.2031-2 - Valuation of stocks and bonds.

Code of Federal Regulations, 2011 CFR

2011-04-01

..., that is given to the option or contract price in determining the value of the securities for estate tax... AND GIFT TAXES ESTATE TAX; ESTATES OF DECEDENTS DYING AFTER AUGUST 16, 1954 Gross Estate § 20.2031-2 Valuation of stocks and bonds. (a) In general. The value of stocks and bonds is the fair market value per...

26 CFR 20.2031-2 - Valuation of stocks and bonds.

Code of Federal Regulations, 2012 CFR

2012-04-01

..., that is given to the option or contract price in determining the value of the securities for estate tax... AND GIFT TAXES ESTATE TAX; ESTATES OF DECEDENTS DYING AFTER AUGUST 16, 1954 Gross Estate § 20.2031-2 Valuation of stocks and bonds. (a) In general. The value of stocks and bonds is the fair market value per...

26 CFR 20.2031-2 - Valuation of stocks and bonds.

Code of Federal Regulations, 2013 CFR

2013-04-01

..., that is given to the option or contract price in determining the value of the securities for estate tax... AND GIFT TAXES ESTATE TAX; ESTATES OF DECEDENTS DYING AFTER AUGUST 16, 1954 Gross Estate § 20.2031-2 Valuation of stocks and bonds. (a) In general. The value of stocks and bonds is the fair market value per...

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

Code of Federal Regulations, 2012 CFR

2012-04-01

..., the value may be approximated by adding to the interpolated terminal reserve at the date of the... Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) ESTATE AND GIFT TAXES ESTATE TAX... certain life insurance and annuity contracts. (1) The value of a contract for the payment of an annuity...

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

Code of Federal Regulations, 2013 CFR

2013-04-01

..., the value may be approximated by adding to the interpolated terminal reserve at the date of the... Revenue INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY (CONTINUED) ESTATE AND GIFT TAXES ESTATE TAX... certain life insurance and annuity contracts. (1) The value of a contract for the payment of an annuity...

26 CFR 20.2031-2 - Valuation of stocks and bonds.

Code of Federal Regulations, 2014 CFR

2014-04-01

..., that is given to the option or contract price in determining the value of the securities for estate tax... AND GIFT TAXES ESTATE TAX; ESTATES OF DECEDENTS DYING AFTER AUGUST 16, 1954 Gross Estate § 20.2031-2 Valuation of stocks and bonds. (a) In general. The value of stocks and bonds is the fair market value per...

Valuation of Real Options as Competitive Prototyping in System Development

DTIC Science & Technology

2014-07-01

Brealey & Meyers, 2000; Dixit & Pindyck, 1994; Kulatilaka, 1995; Lander, 1997; Lander & Pinches, 1998; McDonald, 2006; Quigg, 1993; Teisberg, 1995...Brennan & Trigeorgis, 2000; Dixit & Pindyck, 1994; Kemna, 1993; Miller & Lessard, 2000; Trigeorgis, 1995). Examples include valuation of options to... Dixit , A. K., & Pindyck, R. S. (1994). Investment under uncertainty. NJ: Princeton University Press. Ford, D. N., & Bhargav, S. (2006, Spring). Project

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...

26 CFR 25.2512-1 - Valuation of property; in general.

Code of Federal Regulations, 2010 CFR

2010-04-01

... AND GIFT TAXES GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954 Transfers § 25.2512-1 Valuation of property; in general. Section 2512 provides that if a gift is made in property, its value at the date of the gift shall be considered the amount of the gift. The value of the property is the price at which...

Valuation of Drug Abuse: A Review of Current Methodologies and Implications for Policy Making

ERIC Educational Resources Information Center

Schori, Maayan

2011-01-01

This article reviews the use of several valuation methods as they relate to drug abuse and places them within the context of U.S. policy. First, cost-of-illness (COI) studies are reviewed and their limitations discussed. Second, three additional economic methods of valuing drug abuse are reviewed, including cost-effectiveness analysis (CEA),…

Assessing the benefits of reducing fire risk in the wildland urban interface: A contingent valuation approach

Treesearch

Jeremy Fried; Greg J. Winter; Keith J. Gilless

1999-01-01

Wildland-urban interface (WUI) residents in Michigan were interviewed using a contingent valuation protocol to assess their-willingness-to-pay (WT) for incremental reductions in the risk of losing their homes to wildfire. WTP was elicited using a probability model which segments the risk of structure loss into "public" and "private" components.

26 CFR 20.2031-2 - Valuation of stocks and bonds.

Code of Federal Regulations, 2010 CFR

2010-04-01

... day before the valuation date. Assume further, that there were sales on Thursday, March 29, 1973, and that the closing selling price on that day was $23. The price of $24.50 is taken as representing the... liquidation rights created after October 8, 1990. [T.D. 6296, 23 FR 4529, June 24, 1958; 25 FR 14021, Dec. 31...

Investigating habitat value to inform contaminant remediation options: case study

Treesearch

Rebecca A. Efroymson; Mark J. Peterson; Neil R. Giffen; Michael G. Ryon; John G. Smith; William W. Hargrove; W. Kelly Roy; Christopher J. Welsh; Daniel L. Druckenbrod; Harry D. Quarles

2008-01-01

Habitat valuation methods were implemented to support remedial decisions for aquatic and terrestrial contaminated sites at the East Tennessee Technology Park (ETTP) on the US Department of Energy (DOE) Oak Ridge Reservation in Oak Ridge, TN, USA. The habitat valuation was undertaken for six contaminated sites: Contractor’s Spoil Area, K-901-N Disposal Area, K-770...

Residential Property Composition of School Districts: Its Effect on Tax Rate and Per Pupil Revenue.

ERIC Educational Resources Information Center

Lundeen, Virginia; And Others

This study related tax rate and per pupil revenue to residential assessed valuation, percent residential of total assessed valuation, and selected socioeconomic independent variables for school districts in Cook, DeKalb, DuPage, Kane, and Lake counties in Illinois. Findings suggest that for homeowners and the students of these counties in 1976,…

Geoenvironments from the vicinity of Arctowski Station, Admiralty Bay, King George Island, Antarctica: vulnerability and valuation assessment

USGS Publications Warehouse

Schaefer, Carlos Ernesto G.R.; Santana, Rogério Mercandelle; Simas, Felipe Nogueira Bello; Francelino, Márcio R.; Filho, Elpídio Inácio Fernandes; Albuquerque, Miriam Abreu; Calijuri, Maria Lúcia

2007-01-01

The use of a geographic information system (GIS) allows the mapping and quantification of biotic and physical features of importance to the environmental planning of Antarctic areas. In this paper we examined the main aspects of the geoenvironments of Arctowski Station vicinity (Admiralty bay, Maritime Antartica), by means of a photointerpretation of an orthomosaic at 1:6000 scale, produced by non-conventional aerial photographs obtained by the Brazilian Cryosols project. We carried out a preliminary environmental valuation and vulnerability assessment of the area. Hence, geoenvironments were classified and ranked according with their biological valuation and vulnerability (fragility), mapping 20 units covering approximately 150 ha. The most fragile geoenvironmental units were former and present penguin rookeries with different vegetation covers, all very prone to degradation by over-trampling and human perturbations. The relationships between each geoenvironment were also explored, emphasizing the ecological aspects and their valuation. In quantitative terms, the most vulnerable and fragile units (classes 4 and 5) occupy nearly 22 % of the total area, being highly concentrated near the coastal areas. There, ornithogenic input is an important factor favoring the vegetation development.

DSS Investment Options with Damage Cost Valuation of Water Pollution at a River Basin Scale

NASA Astrophysics Data System (ADS)

El-Fadel, M.; Maroun, R.; Abou Najm, M. R.; Bou Fakhr Aldeen, R.; Lichaa El-Khoury, D.

2008-12-01

Poor water quality coupled with inadequate water sanitation services and hygiene practices has long been associated with higher water-borne diseases resulting in a serious cost to society in the form of cost of illness and forgone earnings directly related to increased morbidity and premature mortality, as well as cost of protective measures. This paper presents a socio-economic assessment of water quality in the Upper Litani river basin, Lebanon. For this purpose, field surveys were first conducted followed by the application of 1) the human capital and the willingness to pay approaches for mortality valuation, 2) the cost of illness, pain and suffering approach for morbidity valuation, and 3) the market price approach for the valuation of agricultural impacts. Economic benefits of improving water quality and sanitation were examined in the context of a cost- benefit analysis using a Decision Support System to evaluate various investment options in the construction and operation of wastewater treatment plants. The estimated damage costs ranged between 0.22-3.26 percent of the GDP in the study area with an expected return on investment in treatment facilities within 10 to 25 years depending on economic parameters used.

The role of the payment vehicle in non-market valuations of a health care service: willingness-to-pay for an ambulance helicopter service.

PubMed

Gyrd-Hansen, Dorte

2016-01-01

This study analyses the role of the payment vehicle when conducting non-market valuations of health care services using stated preference methods. Based on a contingent valuation study conducted in Denmark encompassing more than 3400 respondents three important conclusions are drawn. Firstly, it is found that the valuation of a publicly financed ambulance helicopter service is higher than for an identical privately financed service. Secondly, the results suggest that the public premium is likely to be partly driven by altruistic preferences, and that some citizens value access to this type of service for all. An important driver is also perceptions of quality of services across the private and public sector. Finally, it is shown that exclusion of protest bidders is problematic and may bias welfare estimates. The take home message is that it is difficult to isolate the value of a good per se, and that analysts should take care in applying the payment vehicle that is likely to be applied in real life when valuing non-market goods. There has been little awareness of the importance of choice of payment vehicle in the literature to date.

Ecosystems, ecological restoration, and economics: does habitat or resource equivalency analysis mean other economic valuation methods are not needed?

PubMed

Shaw, W Douglass; Wlodarz, Marta

2013-09-01

Coastal and other area resources such as tidal wetlands, seagrasses, coral reefs, wetlands, and other ecosystems are often harmed by environmental damage that might be inflicted by human actions, or could occur from natural hazards such as hurricanes. Society may wish to restore resources to offset the harm, or receive compensation if this is not possible, but faces difficult choices among potential compensation projects. The optimal amount of restoration efforts can be determined by non-market valuation methods, service-to-service, or resource-to-resource approaches such as habitat equivalency analysis (HEA). HEA scales injured resources and lost services on a one-to-one trade-off basis. Here, we present the main differences between the HEA approach and other non-market valuation approaches. Particular focus is on the role of the social discount rate, which appears in the HEA equation and underlies calculations of the present value of future damages. We argue that while HEA involves elements of economic analysis, the assumption of a one-to-one trade-off between lost and restored services sometimes does not hold, and then other non-market economic valuation approaches may help in restoration scaling or in damage determination.

The Subjective Well-Being Method of Valuation: An Application to General Health Status.

PubMed

Brown, Timothy T

2015-12-01

To introduce the subjective well-being (SWB) method of valuation and provide an example by valuing health status. The SWB method allows monetary valuations to be performed in the absence of market relationships. Data are from the 1975-2010 General Social Survey. The value of health status is determined via the estimation of an implicit derivative based on a happiness equation. Two-stage least-squares was used to estimate happiness as a function of poor-to-fair health status, annual household income adjusted for household size, age, sex, race, marital status, education, year, and season. Poor-to-fair health status and annual household income are instrumented using a proxy for intelligence, a temporal version of the classic distance instrument, and the average health status of individuals who are demographically similar but geographically separated. Instrument validity is evaluated. Moving from good/excellent health to poor/fair health (1 year of lower health status) is equivalent to the loss of $41,654 of equivalized household income (2010 constant dollars) per annum, which is larger than median equivalized household income. The SWB method may be useful in making monetary valuations where fundamental market relationships are not present. © Health Research and Educational Trust.

Time savings--realized and potential--and fair compensation for community health workers in Kenyan health facilities: a mixed-methods approach.

PubMed

Sander, Laura D; Holtzman, David; Pauly, Mark; Cohn, Jennifer

2015-01-30

Sub-Saharan Africa faces a severe health worker shortage, which community health workers (CHWs) may fill. This study describes tasks shifted from clinicians to CHWs in Kenya, places monetary valuations on CHWs' efforts, and models effects of further task shifting on time demands of clinicians and CHWs. Mixed methods were used for this study. Interviews were conducted with 28 CHWs and 19 clinicians in 17 health facilities throughout Kenya focusing on task shifting involving CHWs, time savings for clinicians as a result of task shifting, barriers and enabling factors to CHWs' work, and appropriate CHW compensation. Twenty CHWs completed task diaries over a 14-day period to examine current CHW tasks and the amount of time spent performing them. A modeling exercise was conducted examining a current task-shifting example and another scenario in which additional task shifting to CHWs has occurred. CHWs worked an average of 5.3 hours per day and spent 36% of their time performing tasks shifted from clinicians. We estimated a monthly valuation of US$ 117 per CHW. The modeling exercise demonstrated that further task shifting would reduce the number of clinicians needed while maintaining clinic productivity by significantly increasing the number of CHWs. CHWs are an important component of healthcare delivery in Kenya. Our monetary estimates of current CHW contributions provide starting points for further discussion, research and planning regarding CHW compensation and programs. Additional task shifting to CHWs may further offload overworked clinicians while maintaining overall productivity.

Preference-based disease-specific health-related quality of life instrument for glaucoma: a mixed methods study protocol

PubMed Central

Muratov, Sergei; Podbielski, Dominik W; Jack, Susan M; Ahmed, Iqbal Ike K; Mitchell, Levine A H; Baltaziak, Monika; Xie, Feng

2016-01-01

Introduction A primary objective of healthcare services is to improve patients' health and health-related quality of life (HRQoL). Glaucoma, which affects a substantial proportion of the world population, has a significant detrimental impact on HRQoL. Although there are a number of glaucoma-specific questionnaires to measure HRQoL, none is preference-based which prevent them from being used in health economic evaluation. The proposed study is aimed to develop a preference-based instrument that is capable of capturing important effects specific to glaucoma and treatments on HRQoL and is scored based on the patients' preferences. Methods A sequential, exploratory mixed methods design will be used to guide the development and evaluation of the HRQoL instrument. The study consists of several stages to be implemented sequentially: item identification, item selection, validation and valuation. The instrument items will be identified and selected through a literature review and the conduct of a qualitative study. Validation will be conducted to establish psychometric properties of the instrument followed by a valuation exercise to derive utility scores for the health states described. Ethics and dissemination This study has been approved by the Trillium Health Partners Research Ethics Board (ID number 753). All personal information will be de-identified with the identification code kept in a secured location including the rest of the study data. Only qualified and study-related personnel will be allowed to access the data. The results of the study will be distributed widely through peer-reviewed journals, conferences and internal meetings. PMID:28186941

Resource management and nonmarket valuation research

USGS Publications Warehouse

Douglas, A.J.; Taylor, J.G.

1999-01-01

Survey based nonmarket valuation research is often regarded as economics research. However, resource economists need to be aware of and acknowledge the manifold information sources that they employ in order to enhance the policy credibility of their studies. Communication between resource economists and practitioners of allied disciplines including chemistry, civil engineering, sociology, and anthropology are often neglected. Recent resource allocation policy debates have given rise to an extensive discussion of methodological issues that narrow the scope of the subject. The present paper provides a format for the presentation of nonmarket valuation research results that emphasizes the manifold links between economics studies that employ different methodologies to estimate nonmarket resource values. A more robust emphasis on the interlocking features of the different approaches for estimating nonmarket benefits should foster appreciation of the transdisciplinary aspects of the subject.